Corporate accountability towards species extinction protection: insights from ecologically forward-thinking companies

Roberts, Lee, Nandy, Monomita ORCID: https://orcid.org/0000-0001-8191-2412, Hassan, Abeer, Lodh, Suman ORCID: https://orcid.org/0000-0002-4513-1480 and Elamer, Ahmed A. (2021) Corporate accountability towards species extinction protection: insights from ecologically forward-thinking companies. Journal of Business Ethics . pp. 1-25. ISSN 0167-4544 [Article] (Published online first) (doi:10.1007/s10551-021-04800-9)

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Abstract

This paper contributes to biodiversity and species extinction literature by examining the relationship between corporate accountability in terms of species protection and factors affecting such accountability from forward-thinking companies. We use triangulation of theories, namely deep ecology, legitimacy, and we introduce a new perspective to the stakeholder theory that considers species as a ‘stakeholder’. Using Poisson pseudo-maximum likelihood (PPML) regression, we examine a sample of 200 Fortune Global companies over three years. Our results indicate significant positive relations between ecologically conscious companies that are accountable for the protection of biodiversity and species extinction and external assurance, environmental performance, partnerships with socially responsible organizations and awards for sustainable activities. Our empirical results appear to be robust in controlling for possible endogeneities. Our findings contribute to the discussion on the concern of species loss and habitat destruction in the context of corporate accountability, especially in responding to the sixth mass extinction event and COVID-19 crisis. Our results can also guide the policymakers and stakeholders of the financial market in better decision making.

Item Type: Article
Research Areas: A. > Business School > Accounting and Finance
Item ID: 32772
Notes on copyright: © The Author(s) 2021
Open Access This article is licensed under a Creative Commons Attribution 4.0 International License, which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons licence, and indicate if changes were made. The images or other third party material in this article are included in the article's Creative Commons licence, unless indicated otherwise in a credit line to the material. If material is not included in the article's Creative Commons licence and your intended use is not permitted by statutory regulation or exceeds the permitted use, you will need to obtain permission directly from the copyright holder. To view a copy of this licence, visit http://creativecommons.org/licenses/by/4.0/.
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Depositing User: Suman Lodh
Date Deposited: 12 Apr 2021 10:39
Last Modified: 24 Sep 2021 18:01
URI: https://eprints.mdx.ac.uk/id/eprint/32772

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