Owners' Time Horizons and Firms' Environmental and Social Orientations: Evidence From Italian Private Manufacturing Firms

Kevin Pirazzi Maffiola, Daniela Bragoli and Giovanni Marseguerra

Corporate Social Responsibility and Environmental Management, 2025, vol. 32, issue 6, 7411-7430

Abstract: This study examines the relationship between ownership structure and sustainability practices in privately owned Italian manufacturing firms. Using a dataset of 231 firms, we analyze how private equity and female ownership influence corporate environmental, internal social, and external social orientations. Our findings reveal that private equity ownership correlates positively with environmental orientation, as these investors prioritize practices that improve corporate value and mitigate risk. However, they tend to underinvest in external social initiatives, perceiving their benefits as long‐term. In contrast, female ownership is linked to a stronger commitment to internal social responsibility. These results underscore the importance of corporate ownership in the shaping of sustainable corporate strategies and provide insights for both theory and practice.

Date: 2025
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https://doi.org/10.1002/csr.70091

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Persistent link: https://EconPapers.repec.org/RePEc:wly:corsem:v:32:y:2025:i:6:p:7411-7430

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