@misc{10481/83057,
year = {2023},
url = {https://hdl.handle.net/10481/83057},
abstract = {While independent directors focus on preserving the shareholders' interests, their
individual preferences may differ with regard to how environmental innovations have
to be considered. A growing importance of shareholders' environmental activism has
sought to influence firms' environmental practices through public proposals and private
negotiations with executives. Using a sample of 7111 firms listed in the S&P
1500 index between 2006 and 2019, we examine how the visibility of shareholders'
environmental proposals moderates the relationship between board independence
and environmental innovations. Our findings show that public and private shareholder
activism related to community issues and external reporting reinforces the
positive influence of independent directors on firms' environmental innovations.
However, private dialogues between executives and environmental activists focused
on emissions from company operations diminish the influence of independent directors.
Our study sheds light on how the external visibility of the topics involved in the
activists' environmental proposals reinforces the interest of independent directors in
advancing environmental innovations.},
organization = {Spanish Research Agency (Ministry of Science and Innovation), Grant/Award Numbers: PID2019-106725GB-I00, PDC2021-120953-I00, TED2021-129829B- 100},
organization = {Unit of Excellence Advanced Research in Economics and Business at the University of Granada, Grant/Award Number: ExcelEB2023},
publisher = {Wiley},
keywords = {Board of directors},
keywords = {Environmental innovations},
keywords = {Independent directors},
keywords = {Shareholders' environmental activism},
title = {Independent directors and environmental innovations: How the visibility of public and private shareholders' environmental activism moderates the influence of board independence},
doi = {10.1002/bse.3498},
author = {Ruiz-Castillo, Maria and Aragón Correa, Juan Alberto and Hurtado Torres, Nuria Esther},
}