Technological peer pressure and corporate sustainability
研究了美国1536家企业2002-2021年数据，发现技术同行压力会降低企业的环境和社会绩效，尤其在研发密集型、高科技、非面向消费者和绿色行业中更明显。
In this paper, we investigate the relationship between technological peer pressure (TPP) and corporate sustainability performance. By studying 1536 firms in the United States for the period 2002 to 2021, we provide strong and robust evidence that corporates’ environmental and social performance have a negative effect on technological peer pressure. Furthermore, our empirical findings support the view that resource constraints and agency problems can be explained for firms’ sustainability decisions. Additional analyses reveal industry heterogeneity of this relation that the negative impacts are stronger in the firm with high research and development (R&D) intensity, in high-tech industries, non-customer-facing sectors and “green” industries. Taken together, our results highlight the important role of technological competition in the product market in the knowledge-based economy and firms’ sustainability strategies in competitive industries.