Boards and Sustainability: the Contingent Influence of Director Interlocks on Corporate Environmental Performance

Natalia Ortiz‐ de‐Mandojana and Juan Alberto Aragon‐Correa
Authors registered in the RePEc Author Service: Natalia Ortiz-de-Mandojana

Business Strategy and the Environment, 2015, vol. 24, issue 6, 499-517

Abstract: This paper highlights the importance of a firm's board with respect to sustainability issues by analysing the relationship between director interlocks, i.e. directors who simultaneously belong to the boards of directors of several companies, and a firm's environmental performance. The previous literature has focused on the influence of firm‐level resources on corporate environmental performance. This study utilizes insights from a resource‐based view and research on social capital to demonstrate that the environmental performance of a firm is also influenced by the difficult‐to‐imitate capabilities that are embedded in the network relationships of its directors. Our results support a contingency perspective of the social capital theory that finds that director interlocks are positively connected with the environmental performance of a firm in two specific situations: (1) when the firm is linked to a larger parent company and (2) in cases of low and high levels of interlock diversity. Copyright © 2013 John Wiley & Sons, Ltd and ERP Environment.

Date: 2015
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Citations: View citations in EconPapers (19)

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