Sustainable corporate governance for environmental innovation: A configurational analysis on board capital, CEO power and ownership structure
研究了CEO权力、董事会资本和所有权结构如何共同影响高污染企业的环境创新，发现存在多种实现高环境创新的路径。
CEOs, boards of directors, and owners are believed to be important actors in affecting environmental innovation. Yet, there is a lack of combined view on the three actors in the literature. This study aims to explore the sources of environmental innovation from the perspective of corporate governance bundles. Considering the interdependent nature of the three, this study proposes a configurational model consisting of CEO (formal and informal) power, board capital (breadth and depth), and ownership (institutional and insider). We undertake a qualitative comparative analysis (QCA) on a sample of 250 dirty firms and discover six sufficient configurations for high environmental innovation. These configurations suggest that there are multiple paths for achieving high environmental innovation. Furthermore, both powerful and weak CEOs can be environmental innovation facilitators if they are accompanied by suitable board archetypes and ownership structure.