Ethical Correlates of Family Control: Socioemotional Wealth, Environmental Performance, and Financial Returns
研究了22个欧洲国家的家族企业，发现其环境绩效优于非家族企业，且更注重实质性环保行动，同时不会因减排而牺牲财务回报。
Abstract We examine and test the environmental performance of family firms across 22 European countries and find that they exhibit better environmental performance than nonfamily firms. This result confirms prior research conducted in the United States. More specifically, we conclude that family firms engage in more substantive environmental actions than nonfamily firms. Furthermore, we hypothesize and confirm that family firms do not pay a financial price for lower emissions, which should facilitate the voluntary, non-instrumental adoption of pollution control practices. Finally, we also find that the relationship between substantive environmental activities and financial returns is stronger among family firms that have family members on the board and are under the influence of the first generation.