Engaging stakeholders to develop eco-efficient practices in European Small and Medium Enterprises

Concepción Garcés‐ayerbe, Pilar Rivera-Torres and Aurore Darmandieu ()
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Concepción Garcés‐ayerbe: Universidad de Zaragoza = University of Zaragoza [Saragossa University] = Université de Saragosse
Pilar Rivera-Torres: Universidad de Zaragoza = University of Zaragoza [Saragossa University] = Université de Saragosse
Aurore Darmandieu: LIREM - Laboratoire de Recherche en Management (LIREM) - UPPA - Université de Pau et des Pays de l'Adour, UPPA - Université de Pau et des Pays de l'Adour

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Abstract: Past literature has evidenced the impact of stakeholder engagement on firm strategic decisions and environmental outcomes. Yet, European Small and Medium Enterprises (SME) do not seem to be ready to develop the transformational practices required to foster the transition towards a circular economy. Nevertheless, developing eco-efficient practices could be the first step towards this transition. Thus, the purpose of this paper is to analyze the impact of stakeholder engagement in sustainability on European SME's own development of eco-efficient practices. In particular, we apply Sulkowski et al.'s (2018) revised stakeholder theory approach that suggests that firms can initiate systemic changes within their ecosystem by "shaking" their stakeholders. We performed structural equation modeling based on data from 14,726 European SME and their relationships with five different stakeholders. Our results confirm that shaking stakeholders and fostering their engagement in sustainable practices does facilitate in return firms' own development of eco-efficient practices.

Keywords: Sustainability; Eco-efficiency; Stakeholder theory; Stakeholder engagement; Small and medium enterprises; Ecosystems (search for similar items in EconPapers)
Date: 2024-06-25
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Published in European Academy of Management 2024, EURAM, Jun 2024, Bath (UK), United Kingdom

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04841170

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