Environmental capabilities and corporate strategy: exploring acquisitions among US manufacturing firms
研究了环境能力如何影响美国制造业企业的收购决策，发现拥有较强环境能力的企业更可能收购附近环境能力较弱的设施，反之亦然。
Abstract In this article, we investigate whether environmental capabilities influence firms' corporate strategies, a topic that has received little attention to date. We hypothesize that firms are more likely to acquire facilities when ownership facilitates the transfer of capabilities either to or from the facility. Using a panel from the U.S. government's Toxics Release Inventory Program, we find firms with superior environmental capabilities are significantly more likely to acquire physically proximate facilities with inferior environmental capabilities and vice versa. Our results extend theories of both corporate and environmental strategy. Copyright © 2012 John Wiley & Sons, Ltd.