Firm-Level Drivers of Environmental Sustainability Strategy of Indian Family Firms.

Working Papers
Bhatnagar, Navneet.,Mantravadi, Bharagavi., Ramachandran, Kavil. "Firm-Level Drivers of Environmental Sustainability Strategy of Indian Family Firms.", Sage Publishers, India
Abstract:
Climate change has emerged as the most urgent problem of our times. Repeated calls have been made to businesses to adopt environmental sustainability strategy. However, businesses continue to struggle. Pressure from regulators and external stakeholders have forced developed market firms to adopt sustainability strategy. However, emerging markets have weak regulations and institutional voids. Therefore, emerging market firms are likely to lack effective environmental sustainability strategy. Family controlled firms dominate economies across the world. Due to their community embeddedness family firms may emerge as central players in confronting environmental challenges. Examining 10 large Indian family firms included in the Dow Jones Sustainability Index, this study identifies firm-level, internal motivations for adopting environmental sustainability strategy and green practices by family firms. The proposal also discusses practical implications.