Corporate waste management and investment efficiency: does the CSR committee matter? Evidence from France

Bilel Bzeouich (), Nadia Ben Farhat Toumi () and Khaled Hussainey ()
Additional contact information
Bilel Bzeouich: ESLSCA Business School - École Supérieure Libre des Sciences Commerciales Appliquées
Nadia Ben Farhat Toumi: LITEM - Laboratoire en Innovation, Technologies, Economie et Management (EA 7363) - UEVE - Université d'Évry-Val-d'Essonne - Université Paris-Saclay - IMT-BS - Institut Mines-Télécom Business School - IMT - Institut Mines-Télécom [Paris], UEVE - Université d'Évry-Val-d'Essonne
Khaled Hussainey: Bangor University

Post-Print from HAL

Abstract: This study investigates the relationship between waste management outcomes and corporate investment efficiency, as well as the moderating role of CSR committees, using a panel of 267 non-financial French listed firms over the period 2011–2022. Based on agency theory and the resource-based view, we explore how process-level environmental practices, particularly waste management, are associated with investment efficiency. The results show that a lower waste burden is associated with higher investment efficiency. We also find that the presence of a CSR committee is associated with a weaker negative relationship between waste burden and investment efficiency, consistent with stronger sustainability oversight and better integration of environmental objectives into corporate decision processes. Additional analyses indicate that this negative relationship is weaker in firms with higher ESG performance and stronger in firms with CEO duality. From a strategic management perspective, the findings suggest that operational environmental capabilities may function as strategic assets associated with higher-quality resource allocation. This highlights the importance of considering environmental practices and governance structures jointly when assessing differences in corporate investment efficiency.

Keywords: Waste management; Investment efficiency; ESG performance; CSR committee; CEO duality (search for similar items in EconPapers)
Date: 2026
References: Add references at CitEc
Citations:

Published in Business Strategy and the Environment, In press, ⟨10.1002/bse.70768⟩

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05566797

DOI: 10.1002/bse.70768

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().