determinants of environmental management and implications for firms' economic performance

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1、JournalofEnvironmentalPlanningandManagementVol.54,No.8,October2011,1077–1106Determinantsofenvironmentalmanagementandimplicationsforfirms’economicperformanceYaizaArmas-Cruz*DepartmentofEconomicsandBusinessManagement,UniversityofLaLaguna,SanCristo´baldeLaLaguna,Spain(Received22Oct

2、ober2009;finalversionreceived15December2010)Thereisconsiderabledebateintheliteratureabouttheeconomicimplicationsoffirms’environmentalmanagement.Thecurrentstudyidentifiesthedeterminantsandimplicationsofenvironmentalmanagementandperformance,usinganempiricalanalysisof187hotelsintheth

3、irdmostvisitedregionofSpain–itselfthesecondmostimportanttouristdestinationintheworld(2008).Thestudyconfirmsthepositiveinfluenceofenvironmentalmanagementandperformanceonanorganisation’seconomicperformance.Consequently,thestudycontributestothenaturalresource-basedviewofthefirm.Forth

4、ispurpose,startingfromanexhaustiveandcriticalreviewoftheliteraturethestudydefinesavalidandreliablemodel,adaptedtothesocio-economiccontextoftheanalysis,withwhichtoevaluatefirms’environmentalprotectionactionsandtheiroutcomes.Keywords:environmentalmanagement;economicperformance;natu

5、ralresource-basedview;structuralequationmodelling1.IntroductionInthecurrentcompetitivecontext,theenvironmentvariableisincreasinglyhavingthepotentialtoalterthecompetitivepositionoffirmsinaparticulareconomicsector,dependingoneachorganisation’sresponsetothenewopportunitiesandthreat

6、swithrespecttothisfactor.Thusthegeneralisationofenvironmentalquestionsthroughoutallareasofthefirmiscurrentlyoneofthemostinterestingaspectsinresearchonstrategy.Complyingwiththelegislation,aswellastransmittinganimageofenvironmentalcommitmentandsatisfyingthemostdemandingcustomersin

7、thisarea,isturningtheenvironmentintoastrategicvariable,throughwhichfirmscantaketheinitiativeinpursuitofasustainablecompetitiveadvantage(Macauley1999).Thusthemostvisionaryleadersareexaminingenvironmentalperformancefromthreedifferentperspectivessimulta-neously:reducingthelegalrespo

8、nsibility;reducingtheEHS(environmental,healthandsafety