The Effects of Managerial Competency and Local Religiosity on Corporate Environmental Responsibility

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This study investigates the influence of local religious beliefs to evaluate managerial motives towards corporate environmental engagement, considering the growing attention of the role of external factors in shaping corporate behavior. Using Newsweek's green rankings of the largest publicly traded US firms by market capitalization from 2014-2016, we find that competent managers show a higher strategic preference for corporate environmental practices in firms located in low-Protestant or high-Catholic areas exhibiting higher risk and uncertainty, which tend to mitigate the negative effects of risky environments. We find that corporate environmental practices positively influence the sales of firms in high risk-taking states. This study provides significant contributions to the literature documenting the consequences of local religious risk-taking behavior and elaborates on the perceptions of competent managers on environmental management. The results provide valuable insights for practitioners and policymakers looking to incorporate environmental practices.
Publisher
MDPI
Issue Date
2021-06
Language
English
Article Type
Article
Citation

SUSTAINABILITY, v.13, no.11

ISSN
2071-1050
DOI
10.3390/su13115857
URI
http://hdl.handle.net/10203/286306
Appears in Collection
MG-Journal Papers(저널논문)
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