May 11th, the 25th event of Academic series of Hujiang Economy & Management symposium of Business School was hosted at VOOV meeting (ID: 300-922-928), YU BYUNGJUN (俞炳俊), Ph.D in Business administration and Lecturer of Department of Business Administration, presented “Different control pattern of family firms and its environmental performance, Zhou Yiwe, Lecturer of Department of Information Management and Information System, served as appraiser.
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This presentation reported how internal corporate governance arrangements engage in corporate environmental performance in family firms. Family executives can inject controlling families’values and cultures into family firms. Family executives also have strong motivation to pursue environmental friendly policies to meet their affective needs, such as corporate reputation, families’ image, and private benefits of control. According to an agency theory, in corporate environmental practices, family executives monitor closely whether outside executives implement environmental strategies on the behalf of their interests, but they adversely expropriate outside stakeholders to achieve their interests.
Outside executives provide professional knowledge and skills for environmental management to family business, but they often pursue their own interests instead of operating businesses efficiently. Establishing effective internal corporate governance arrangements play a critical role in promoting effectively corporate greening by mitigating agency costs and efficiently allocating human capital in family firms. Based on these, this presentation discussed and presented the relationship between different pattern of family control and its environmental performance.
After presentation, Zhou Yiwei summarized theoretical contributions and practical implications of this study, and he also suggested further research direction and insightful comments.
