Corporate Governance and the Environment: What Type of Governance Creates Greener Companies?
基于利益相关者-代理理论视角，研究了董事会、管理层激励、公司控制权市场和法律监管等治理机制对企业环境绩效的影响，发现这些机制能在一定程度上解决利益相关者与管理者在环境活动上的利益分歧。
abstract We build on a stakeholder–agency theoretical perspective to explore the impact of particular corporate governance mechanisms on firm environmental performance. Our empirical evidence shows that several important corporate governance mechanisms such as the board of directors, managerial incentives, the market for corporate control, and the legal and regulatory system determine firms' environmental performance levels. These results suggest that these different governance mechanisms resolve, to some extent, the existing divergence of interests between stakeholders and managers with respect to environmental activities.