Hostname: page-component-669899f699-vbsjw Total loading time: 0 Render date: 2025-04-26T22:57:32.329Z Has data issue: false hasContentIssue false

When Do Family Firms Plant Different New Trees? The Role of Family Firms and CSR Committees in Green Innovation

Published online by Cambridge University Press:  21 April 2025

Chia-Ling Lee
Affiliation:
National Chengchi University, Taiwan
Wen-Ting Lin*
Affiliation:
National Cheng Kung University, Taiwan
Ya-Nan Shih
Affiliation:
Tamkang University, Taiwan
*
Corresponding author: Wen-Ting Lin ([email protected])

Abstract

The operating goals of family firms (FFs) typically include building both economic and socioemotional wealth. Innovation is increasingly recognized as a key source for the development and growth of family firms. From the multiple dimensions of socioemotional wealth (SEW), this research has focused on how family influences a particular type of innovation – green innovation – in family firms. Using 5,071 observations from among the listed firms in Taiwan over an eight-year period (2014–2021), we examined the relationships between FFs and green innovation. The results indicate that FFs are more likely to develop green innovation than their nonfamily counterparts. In particular, there are complicated effects within different types of FFs – control deviation family firms (CDFFs).

摘要

摘要

家族企业的运营目标主要有两个:一是创造经济财富,另一个是建立社会情感财富。近年来,创新越来越被认为是家族企业发展壮大的关键因素。基于社会情感财富的多维度视角,本研究特别聚焦于探索家族是如何影响企业的绿色创新的。我们使用了5,071个来自台湾上市企业从2014-2021年的观察数据,来检验家族企业与绿色创新之间的关系。结果表明,与非家族同类企业相比,家族企业有更多的绿色创新。特别有趣的是,不同类型的家族企业 – 控制偏离家族企业,对绿色创新表现出复杂的效果。

Type
Article
Copyright
Copyright © The Author(s), 2025. Published by Cambridge University Press on behalf of International Association for Chinese Management Research

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Article purchase

Temporarily unavailable

References

Adnan, S. M., Hay, D., & van Staden, C. J. 2018. The influence of culture and corporate governance on corporate social responsibility disclosure: A cross country analysis. Journal of Cleaner Production, 198: 820832.CrossRefGoogle Scholar
Afeltra, G., Alerasoul, S. A., & Strozzi, F. 2023. The evolution of sustainable innovation: From the past to the future. European Journal of Innovation Management, 26(2): 386421.CrossRefGoogle Scholar
Ahlstrom, D. 2010. Innovation and growth: How business contributes to society. Academy of Management Perspectives, 24(3): 1124.Google Scholar
Ahlstrom, D., & Ding, Z. 2014. Entrepreneurship in China: An overview. International Small Business Journal, 32(6): 610618.CrossRefGoogle Scholar
Ahlstrom, D., Bruton, G. D., & Yeh, K. S. 2008. Private firms in China: Building legitimacy in an emerging economy. Journal of World Business, 43(4): 385399.CrossRefGoogle Scholar
Ahlstrom, D., Young, M. N., Chan, E. S., & Bruton, G. D. 2004. Facing constraints to growth? Overseas Chinese entrepreneurs and traditional business practices in East Asia. Asia Pacific Journal of Management, 21(3): 263285.CrossRefGoogle Scholar
Aiken, L. S., & West, S. G. 1991. Multiple regression: Testing and interpreting interactions. New York: Sage publications.Google Scholar
Al-Mamun, A., & Seamer, M. 2021. Board of director attributes and CSR engagement in emerging economy firms: Evidence from across Asia. Emerging Markets Review, 46: 100749.CrossRefGoogle Scholar
Anderson, A. R., Jack, S. L., & Dodd, S. D. 2005. The role of family members in entrepreneurial networks: Beyond the boundaries of the family firm. Family Business Review, 18(2): 135154.CrossRefGoogle Scholar
Anderson, R. C., & Reeb, D. M. 2003. Founding-family ownership and firm performance: Evidence from the S&P 500. The Journal of Finance, 58(3): 13011328.CrossRefGoogle Scholar
Arregle, J. L., Chirico, F., Kano, L., Kundu, S. K., Majocchi, A., & Schulze, W. S. 2021. Family firm internationalization: Past research and an agenda for the future. Journal of International Business Studies, 52(6): 11591198.CrossRefGoogle Scholar
Asni, N., & Agustia, D. 2022. Does corporate governance induce green innovation? An emerging market evidence. Corporate Governance: The International Journal of Business in Society, 22(7): 13751389.CrossRefGoogle Scholar
Attig, N., Boubakri, N., El Ghoul, S., & Guedhami, O. 2016. Firm internationalization and corporate social responsibility. Journal of Business Ethics, 134(2): 171197.CrossRefGoogle Scholar
Aycan, Z. 2006. Paternalism: Towards conceptual refinement and operationalization. In K. S. Yang, K. K. Hwang, & U. Kim (Eds.), Indigenous and cultural psychology: Understanding people in context: 445466. Boston, MA: Springer US.CrossRefGoogle Scholar
Bales, R. F., & Parsons, T. 2014. Family: Socialization and interaction process. Routledge: London.CrossRefGoogle Scholar
Bauweraerts, J., Arzubiaga, U., & Diaz-Moriana, V. 2022. Going greener, performing better? The case of private family firms. Research in International Business and Finance, 63: 101784.CrossRefGoogle Scholar
Bauweraerts, J., Rondi, E., Rovelli, P., De Massis, A., & Sciascia, S. 2022. Are family female directors catalysts of innovation in family small and medium enterprises? Strategic Entrepreneurship Journal, 16(2): 314354.CrossRefGoogle Scholar
Berrone, P., Cruz, C., & Gomez-Mejia, L. R. 2012. Socioemotional wealth in family firms: Theoretical dimensions, assessment approaches, and agenda for future research. Family Business Review, 25(3): 258279.CrossRefGoogle Scholar
Berrone, P., Cruz, C., Gomez-Mejia, L. R., & Larraza-Kintana, M. 2010. Socioemotional wealth and corporate responses to institutional pressures: Do family-controlled firms pollute less? Administrative Science Quarterly, 55(1): 82113.CrossRefGoogle Scholar
Botero, I. C., Martínez, A. B., Sanguino, G., & Binhote, J. 2021. The family's effect on knowledge sharing in family firms. Journal of Knowledge Management, 26(2): 459481.CrossRefGoogle Scholar
Boyd, B. 1990. Corporate linkages and organizational environment: A test of the resource dependence model. Strategic Management Journal, 11(6): 419430.CrossRefGoogle Scholar
Bravo, F., & Reguera-Alvarado, N. 2017. The effect of board of directors on R&D intensity: Board tenure and multiple directorships. R&D Management, 47(5): 701714.Google Scholar
Broderick, C. B. 1993. Understanding family process: Basics of family systems theory. New York: Sage.Google Scholar
Burch, P. H. Jr. 1972. The managerial revolution reassessed. Lexington, MA: Heath.Google Scholar
Burke, J. J., Hoitash, R., & Hoitash, U. 2019. The heterogeneity of board-level sustainability committees and corporate social performance. Journal of Business Ethics, 154(4): 11611186.CrossRefGoogle Scholar
Campopiano, G., & Rondi, E. 2019. Hierarchical dyadic congruence in family firms: The interplay of supervisor and supervisee socioemotional wealth importance and familial status. Entrepreneurship Theory and Practice, 43(2): 322329.CrossRefGoogle Scholar
Casey, R. J., & Grenier, J. H. 2015. Understanding and contributing to the enigma of corporate social responsibility (CSR) assurance in the United States. Auditing: A Journal of Practice and Theory, 34(1): 97130.CrossRefGoogle Scholar
Chang, C. H. 2011. The influence of corporate environmental ethics on competitive advantage: The mediation role of green innovation. Journal of Business Ethics, 104(3): 361370.CrossRefGoogle Scholar
Chen, C.-N. 2017. Organizational familism, managerial professionalism, and corporate sustainability. Journal of Management and Business Research, 34(3): 379400 (in Chinese).Google Scholar
Chen, E. T., Gray, S., & Nowland, J. 2013. Family representatives in family firms. Corporate Governance: An International Review, 21(3): 242263.CrossRefGoogle Scholar
Chen, J., Cheng, J., & Dai, S. 2017. Regional eco-innovation in China: An analysis of eco-innovation levels and influencing factors. Journal of Cleaner Production, 153: 114.CrossRefGoogle Scholar
Chen, W., Zhou, A. J., Zhou, S. S., Hofman, P. S., & Yang, X. 2022. Deconstructing socioemotional wealth: Social wealth and emotional wealth as core properties of family firms. Management and Organization Review, 18(2): 223250.CrossRefGoogle Scholar
Chen, X., Pan, X., & Sinha, P. 2022. What to green: Family involvement and different types of eco-innovation. Business Strategy and the Environment, 31(5): 25882602.CrossRefGoogle Scholar
Chirico, F., & Kellermanns, F. W. 2022. When does time enhance family firm performance? Examining family generation in control and family control dispersion through a mixed-gamble logic. Long Range Planning, 57: 102272.CrossRefGoogle Scholar
Chrisman, J. J., Fang, H. C., Vismara, S., & Wu, Z. 2024. New insights on economic theories of the family firm. Small Business Economics, 63: 697711.CrossRefGoogle Scholar
Claessens, S., Djankov, S., & Lang, L. 2000. The separation of ownership and control in east Asian corporations. Journal of Financial Economics, 58(1-2): 81112.CrossRefGoogle Scholar
Claessens, S., Djankov, S., Fan, J. P. H., & Lang, L. H. P. 2002. Disentangling the incentive and entrenchment effects of large shareholdings. Journal of Finance, 57(6): 27412771.CrossRefGoogle Scholar
de Azevedo Rezende, L., Bansi, A. C., Alves, M. F. R., & Galina, S. V. R. 2019. Take your time: Examining when green innovation affects financial performance in multinationals. Journal of Cleaner Production, 233: 9931003.CrossRefGoogle Scholar
Dechow, P., Sloan, R., & Sweeney, A. 1996. Causes and consequences of earnings manipulations: An analysis of firms subject to enforcement actions by the SEC. Contemporary Accounting Research, 13(1): 136.CrossRefGoogle Scholar
Delmas, M. A. 2002. The diffusion of environmental management standards in Europe and in the United States: An institutional perspective. Policy Sciences, 35(1): 91119.CrossRefGoogle Scholar
Derchi, G. B., Zoni, L., & Dossi, A. 2021. Corporate social responsibility performance, incentives, and learning effects. Journal of Business Ethics, 173(3): 617641.CrossRefGoogle Scholar
Drempetic, S., Klein, C., & Zwergel, B. 2020. The influence of firm size on the ESG score: Corporate sustainability ratings under review. Journal of Business Ethics, 167(2): 333360.CrossRefGoogle Scholar
Ducassy, I., & Prevot, F. 2010. The effects of family dynamics on diversification strategy: Empirical evidence from French companies. Journal of Family Business Strategy, 1(4): 224235.CrossRefGoogle Scholar
Dunbar, R. L. M., & Ahlstrom, D. 1995. Seeking the institutional balance of power: Avoiding the power of a balanced view. Academy of Management Review, 20(1): 171192.CrossRefGoogle Scholar
Dyer, W. G. Jr., & Whetten, D. A. 2006. Family firms and social responsibility: Preliminary evidence from the S&P 500. Entrepreneurship Theory and Practice, 30(6): 785802.CrossRefGoogle Scholar
Esty, D. C., & Winston, A. 2009. Green to gold: How smart companies use environmental strategy to innovate, create value, and build competitive advantage. New York: John Wiley & Sons.Google Scholar
Fang, H. C., Kellermanns, F. W., & Eddleston, K. A. 2019. Empirical modeling in testing for family firm heterogeneity. In Memili, E. & Dibrell, C. (Eds.), The Palgrave handbook of heterogeneity among family firms: 6985. Cham, Switzerland: Palgrave Macmillan.CrossRefGoogle Scholar
Farooq, O., Rupp, D. E., & Farooq, M. 2017. The multiple pathways through which internal and external corporate social responsibility influence organizational identification and multifoci outcomes: The moderating role of cultural and social orientations. Academy of Management Journal, 60(3): 954985.CrossRefGoogle Scholar
Fernández, Z., & Nieto, M. J. 2006. Impact of ownership on the international involvement of SMEs. Journal of International Business Studies, 37: 340351.CrossRefGoogle Scholar
Filatotchev, I., & Piesse, J. 2009. R&D, internationalization and growth of newly listed firms: European evidence. Journal of International Business Studies, 40(8): 12601276.CrossRefGoogle Scholar
Filatotchev, I., Lien, Y., & Piesse, J. 2005. Corporate governance and performance in publicly listed, family-controlled firms: Evidence from Taiwan. Asia Pacific Journal of Management, 22(3): 257283.CrossRefGoogle Scholar
Flammer, C., Hong, B., & Minor, D. 2019. Corporate governance and the rise of integrating corporate social responsibility criteria in executive compensation: Effectiveness and implications for firm outcomes. Strategic Management Journal, 40(7): 10971122.CrossRefGoogle Scholar
Garcia-Blandon, J., Castillo-Merino, D., Argilés-Bosch, J. M., & Ravenda, D. 2020. Board-level ethics committees in large European firms. Business Ethics: A European Review, 29(4): 824841.CrossRefGoogle Scholar
Gennari, F., & Salvioni, D. M. 2019. CSR committees on boards: The impact of the external country level factors. Journal of Management and Governance, 23(3): 759785.CrossRefGoogle Scholar
Gomez-Mejia, L. R., Welbourne, T. M., & Wiseman, R. M. 2000. The role of risk sharing and risk taking under gainsharing. Academy of Management Review, 25(3): 492507.CrossRefGoogle Scholar
Grazzi, M., Sasso, S., & Kemp, R. 2019. A conceptual framework to measure green innovation in Latin America and the Caribbean. Washington District of Columbia. New York: Inter-American Development Bank.Google Scholar
Gu, Q., Lu, J. W., & Chung, C. N. 2019. Incentive or disincentive? A socioemotional wealth explanation of new industry entry in family business groups. Journal of Management, 45(2): 645672.CrossRefGoogle Scholar
Guan, X., Ahlstrom, D., & Liu, J. 2024. Infrastructure collaboration along China's Belt and Road Initiative: Implications for corporate social responsibility and political activity. Journal of Infrastructure Policy and Development, 8(8): 4705.CrossRefGoogle Scholar
Guo, R., Lv, S., Liao, T., Xi, F., Zhang, J., Zuo, X., Cao, X., Feng, Z., & Zhang, Y. 2020. Classifying green technologies for sustainable innovation and investment. Resources, Conservation, and Recycling, 153(3): 104580.CrossRefGoogle Scholar
Haddoud, M. Y., Onjewu, A. K. E., & Nowiński, W. 2021. Environmental commitment and innovation as catalysts for export performance in family firms. Technological Forecasting and Social Change, 173: 121085.CrossRefGoogle Scholar
Hair, J. F., Anderson, R. E. Jr., Tatham, R. L., & Black, W. C. 1998. Multivariate data analysis (5th ed.). New Jersey: Prentice Hall.Google Scholar
Hao, Y., Fan, C., Long, Y., & Pan, J. 2019. The role of returnee executives in improving green innovation performance of Chinese manufacturing enterprises: Implications for sustainable development strategy. Business Strategy and the Environment, 28(5): 804818.CrossRefGoogle Scholar
Harjoto, M., Laksmana, I., & Lee, R. 2015. Board diversity and corporate social responsibility. Journal of Business Ethics, 132: 641660.CrossRefGoogle Scholar
Hart, S. L., & Dowell, G. 2011. Invited editorial: A natural-resource-based view of the firm: Fifteen years after. Journal of Management, 37(5): 14641479.CrossRefGoogle Scholar
He, X., & Jiang, S. 2019. Does gender diversity matter for green innovation? Business Strategy and the Environment, 28(7): 13411356.CrossRefGoogle Scholar
Heckman, J. J. 1979. Sample selection bias as a specification error. Econometrica: Journal of the Econometric Society, 47(1): 153161.CrossRefGoogle Scholar
Heider, A., Hülsbeck, M., & von Schlenk-Barnsdorf, L. 2022. The role of family firm specific resources in innovation: An integrative literature review and framework. Management Review Quarterly, 72(2): 483530.CrossRefGoogle Scholar
Hiller, N. J., Sin, H. P., Ponnapalli, A. R., & Ozgen, S. 2019. Benevolence and authority as WEIRDly unfamiliar: A multi-language meta-analysis of paternalistic leadership behaviors from 152 studies. The Leadership Quarterly, 30(1): 165184.CrossRefGoogle Scholar
Homroy, S., & Slechten, A. 2019. Do board expertise and networked boards affect environmental performance? Journal of Business Ethics, 158(1): 269292.CrossRefGoogle Scholar
Huang, Y.-C., Ding, H.-B., & Kao, M.-R. 2009. Salient stakeholder voices: Family business and green innovation adoption. Journal of Management & Organization, 15(3): 309326.CrossRefGoogle Scholar
James, H. S. 1999. Owner as manager, extended horizons and the family firm. International Journal of the Economics of Business, 6(1): 4155.CrossRefGoogle Scholar
Johnstone, N., & Labonne, J. 2009. Why do manufacturing facilities introduce environmental management systems? Improving and/or signaling performance. Ecological Economics, 68(3): 719730.CrossRefGoogle Scholar
Keats, B. W., & Hitt, M. A. 1988. A causal model of linkages among environmental dimensions, macro organizational characteristics, and performance. Academy of Management Journal, 31(3): 570598.CrossRefGoogle Scholar
Kellogg, K. C. 2014. Brokerage professions and implementing reform in an age of experts. American Sociological Review, 79(5): 912941.CrossRefGoogle Scholar
Kong, T., Sun, R., Sun, G., & Song, Y. 2022. Effects of digital finance on green innovation considering information asymmetry: An empirical study based on Chinese listed firms. Emerging Markets Finance and Trade, 58(15): 43994411.CrossRefGoogle Scholar
Kuokkanen, H., & Sun, W. 2020. Companies, meet ethical consumers: Strategic CSR management to impact consumer choice. Journal of Business Ethics, 166: 403423.CrossRefGoogle Scholar
Kusnadi, Y., Leong, K. S., Suwardy, T., & Wang, J. 2016. Audit committees and financial reporting quality in Singapore. Journal of Business Ethics, 139(1): 197214.CrossRefGoogle Scholar
La Porta, R., Lopez-de-Silanes, F., Shleifer, A., & Vishny, R. 2002. Investor protection and corporate valuation. The Journal of Finance, 57(3): 11471170.CrossRefGoogle Scholar
Lee, S. Y. 2008. Drivers for the participation of small and medium-sized suppliers in green supply chain initiatives. Supply Chain Management: An International Journal, 13(3): 185198.CrossRefGoogle Scholar
Li, Y., Guo, H., Yi, Y., & Liu, Y. 2010. Ownership concentration and product innovation in Chinese firms: The mediating role of learning orientation. Management and Organization Review, 6(1): 77100.CrossRefGoogle Scholar
Liao, L., Luo, L., & Tang, Q. 2015. Gender diversity, board independence, environmental committee and greenhouse gas disclosure. The British Accounting Review, 47(4): 409424.CrossRefGoogle Scholar
Lin, H., Zeng, S. X., Ma, H. Y., Qi, G. Y., & Tam, V. W. 2014. Can political capital drive corporate green innovation? Lessons from China. Journal of Cleaner Production, 64: 6372.CrossRefGoogle Scholar
Lin, W. L., Ho, J. A., Sambasivan, M., Yip, N., & Mohamed, A. B. 2021. Influence of green innovation strategy on brand value: The role of marketing capability and R&D intensity. Technological Forecasting and Social Change, 171: 120946.CrossRefGoogle Scholar
Lin, W. Y., & Hsu, C. Y. 2008. A research on ownership structure and corporate governance performance indicators of Taiwanese business groups. Chiao Da Management Review, 28(1): 269312 (in Chinese).Google Scholar
Lisi, W., Zhu, R., & Yuan, C. 2020. Embracing green innovation via green supply chain learning: The moderating role of green technology turbulence. Sustainable Development, 28(1): 155168.CrossRefGoogle Scholar
Liu, B., Qian, G., & Au, K. Y. 2023. Family influence and environmental proactiveness of family firms in China: A mixed gamble perspective. Management and Organization Review, 19(2): 348371.CrossRefGoogle Scholar
Lodh, S., Nandy, M., & Chen, J. 2014. Innovation and family ownership: Empirical evidence from India. Corporate governance: An international review, 22(1): 423.CrossRefGoogle Scholar
Lu, J. W., & Beamish, P. W. 2004. International diversification and firm performance: The S-curve hypothesis. Academy of Management Journal, 47(4): 598609.CrossRefGoogle Scholar
Luo, X., & Bhattacharya, C. B. 2009. The debate over doing good: Corporate social performance, strategic marketing levers, and firm-idiosyncratic risk. Journal of Marketing, 73(6): 198213.CrossRefGoogle Scholar
Martin, G., & Gómez-Mejía, L. R. 2016. The relationship between socioemotional and financial wealth: Re-visiting family firm decision making. Management Research, 14(3): 215233.Google Scholar
Melander, L., & Arvidsson, A. 2022. Green innovation networks: A research agenda. Journal of Cleaner Production, 357: 131926.CrossRefGoogle Scholar
Miller, D., & Le Breton–Miller, I. 2014. Deconstructing socioemotional wealth. Entrepreneurship Theory and Practice, 38(4): 713720.CrossRefGoogle Scholar
Mun, E., & Jung, J. 2018. Change above the glass ceiling: Corporate social responsibility and gender diversity in Japanese firms. Administrative Science Quarterly, 63(2): 409440.CrossRefGoogle Scholar
Muñoz-Bullón, F., & Sanchez-Bueno, M. J. 2011. The impact of family involvement on the R&D intensity of publicly traded firms. Family Business Review, 24(1): 6270.CrossRefGoogle Scholar
Mussolino, D., & Calabrò, A. 2014. Paternalistic leadership in family firms: Types and implications for intergenerational succession. Journal of Family Business Strategy, 5(2): 197210.CrossRefGoogle Scholar
Ng, P. Y., Dayan, M., & Di Benedetto, A. 2019. Performance in family firm: Influences of socioemotional wealth and managerial capabilities. Journal of Business Research, 102: 178190.CrossRefGoogle Scholar
Orazalin, N. 2020. Do board sustainability committees contribute to corporate environmental and social performance? The mediating role of corporate social responsibility strategy. Business Strategy and the Environment, 29(1): 140153.CrossRefGoogle Scholar
Pearson, A. W., Carr, J. C., & Shaw, J. C. 2008. Toward a theory of familiness: A social capital perspective. Entrepreneurship Theory and Practice, 32(6): 949969.CrossRefGoogle Scholar
Peters, G. F., Romi, A. M., & Sanchez, J. M. 2019. The influence of corporate sustainability officers on performance. Journal of Business Ethics, 159: 10651087.CrossRefGoogle Scholar
Przychodzen, W., Leyva-de la Hiz, D. I., & Przychodzen, J. 2020. First-mover advantages in green innovation – Opportunities and threats for financial performance: A longitudinal analysis. Corporate Social Responsibility and Environmental Management, 27(1): 339357.CrossRefGoogle Scholar
Quan, X., Ke, Y., Qian, Y., & Zhang, Y. 2023. CEO Foreign experience and green innovation: Evidence from China. Journal of Business Ethics, 182: 535557.CrossRefGoogle Scholar
Radu, C., & Smaili, N. 2022. Alignment versus monitoring: An examination of the effect of the CSR committee and CSR-linked executive compensation on CSR performance. Journal of Business Ethics, 180: 145163.CrossRefGoogle Scholar
Rondi, E., Überbacher, R., von Schlenk-Barnsdorf, L., De Massis, A., & Hülsbeck, M. 2022. One for all, all for one: A mutual gains perspective on HRM and innovation management practices in family firms. Journal of Family Business Strategy, 13(2): 100394.CrossRefGoogle Scholar
Sanchez-Famoso, V., Pittino, D., Chirico, F., Maseda, A., & Iturralde, T. 2019. Social capital and innovation in family firms: The moderating roles of family control and generational involvement. Scandinavian Journal of Management, 35(3): 113.CrossRefGoogle Scholar
Sciascia, S., Mazzola, P., & Kellermanns, F. W. 2014. Family management and profitability in private family-owned firms: Introducing generational stage and the socioemotional wealth perspective. Journal of Family Business Strategy, 5(2): 131137.CrossRefGoogle Scholar
Sharma, P., & Irving, P. G. 2005. Four bases of family business successor commitment: Antecedents and consequences. Entrepreneurship Theory and Practice, 29(1): 1333.CrossRefGoogle Scholar
Shaukat, A., Qiu, Y., & Trojanowski, G. 2016. Board attributes, corporate social responsibility strategy and corporate environmental and social performance. Journal of Business Ethics, 135(3): 569585.CrossRefGoogle Scholar
Shu, C., Zhao, J., Yao, Q., & Zhou, K. Z. 2024. Green innovation and export performance in emerging market firms: A legitimacy-based view. Management and Organization Review, 20(1): 85110.CrossRefGoogle Scholar
Simnett, R., Vanstraelen, A., & Chua, W. F. 2009. Assurance on sustainability reports: An international comparison. The Accounting Review, 84(3): 937967.CrossRefGoogle Scholar
Smith, A., & Kaminishi, M. 2020. Confucian entrepreneurship: Towards a genealogy of a conceptual tool. Journal of Management Studies, 57(1): 2556.CrossRefGoogle Scholar
Sun, J., & Cahan, S. F. 2009. The effect of compensation committee quality on the association between CEO cash compensation and accounting performance. Corporate Governance: An International Review, 17(2): 193207.CrossRefGoogle Scholar
Swab, R. G., Sherlock, C., Markin, E., & Dibrell, C. 2020. “SEW” what do we know and where do we go? A review of socioemotional wealth and a way forward. Family Business Review, 33(4): 424445.CrossRefGoogle Scholar
The Economist. 2018. Taiwanese bosses are the Chinese-speaking world's oldest: 59–60. Available from URL: https://www.economist.com/business/2018/01/11/taiwanese-bosses-are-the-chinese-speaking-worlds-oldestGoogle Scholar
Thomsen, S., & Pedersen, T. 2000. Ownership structure and economic performance in the largest European companies. Strategic Management Journal, 21(6): 689705.3.0.CO;2-Y>CrossRefGoogle Scholar
Tversky, A., & Kahneman, D. 1978. Judgment under uncertainty: Heuristics and biases: Biases in judgments reveal some heuristics of thinking under uncertainty. In P. Diamond, & M. Rothschild (Eds.), Uncertainty in economics: 1734. Massachusetts: Academic Press.CrossRefGoogle Scholar
Uysal, N. 2014. The expanded role of investor relations: Socially responsible investing, shareholder activism, and organizational legitimacy. International Journal of Strategic Communication, 8(3): 215230.CrossRefGoogle Scholar
Velte, P., & Stawinoga, M. 2020. Do chief sustainability officers and CSR committees influence CSR-related outcomes? A structured literature review based on empirical-quantitative research findings. Journal of Management Control, 31(4): 333377.CrossRefGoogle Scholar
Villalonga, B., & Amit, R. 2006. How do family ownership, control and management affect firm value? Journal of Financial Economics, 80(2): 385417.CrossRefGoogle Scholar
Wang, L. C., Ahlstrom, D., Nair, A., & Hang, R. Z. 2008. Creating globally competitive and innovative products: China's next Olympic challenge. SAM Advanced Management Journal, 73(3): 416.Google Scholar
Wang, Y., Stuart, T., & Li, J. 2021. Fraud and innovation. Administrative Science Quarterly, 66(2): 267297.CrossRefGoogle Scholar
Windrum, P., & Birchenhall, C. 2005. Structural change in the presence of network externalities: A co-evolutionary model of technological successions. Journal of Evolutionary Economics, 15: 123148.CrossRefGoogle Scholar
Wiseman, R. M., & Gomez-Mejia, L. R. 1998. A behavioral agency model of managerial risk taking. Academy of Management Review, 23(1): 133153.CrossRefGoogle Scholar
Xiang, X., Liu, C., & Yang, M. 2022. Who is financing corporate green innovation? International Review of Economics & Finance, 78: 321337.CrossRefGoogle Scholar
Xie, X., Huo, J., & Zou, H. 2019. Green process innovation, green product innovation, and corporate financial performance: A content analysis method. Journal of Business Research, 101: 697706.CrossRefGoogle Scholar
Yang, M. 2010. The impact of controlling families and family CEOs on earnings management. Family Business Review, 23(3): 266279.CrossRefGoogle Scholar
Yang, X., Shang, H., Li, W., & Lan, H. 2024. How does family ownership and management influence green innovation of family firms: Evidence from China. European Journal of Innovation Management, 27(1): 170192.CrossRefGoogle Scholar
Yang, Y. C., & Ge, Y. E. 2020. Adaptation strategies for port infrastructure and facilities under climate change at the Kaohsiung port. Transport Policy, 97: 232244.CrossRefGoogle Scholar
Yeh, Y. H., & Woidtke, T. 2005. Commitment or entrenchment?: Controlling shareholders and board composition. Journal of Banking & Finance, 29(7): 18571885.CrossRefGoogle Scholar
Yeh, Y. H., Lee, T. S., & Woidtke, T. 2001. Family control and corporate governance: Evidence from Taiwan. International Review of Finance, 2(1-2): 21-48.CrossRefGoogle Scholar
Young, M. N., Peng, M. W., Ahlstrom, D., Bruton, G. D., & Jiang, Y. 2008. Corporate governance in emerging economies: A review of the principal–principal perspective. Journal of Management Studies, 45(1): 196220.CrossRefGoogle Scholar
Yousaf, U. B., Ullah, I., Jiang, J., & Wang, M. 2022. The role of board capital in driving green innovation: Evidence from China. Journal of Behavioral and Experimental Finance, 35: 100714.CrossRefGoogle Scholar
Yu, E. P. Y., Van Luu, B., & Chen, C. H. 2020. Greenwashing in environmental, social and governance disclosures. Research in International Business and Finance, 52: 101192.CrossRefGoogle Scholar
Zameer, H., Wang, Y., & Yasmeen, H. 2020. Reinforcing green competitive advantage through green production, creativity and green brand image: Implications for cleaner production in China. Journal of Cleaner Production, 247: 119119.CrossRefGoogle Scholar
Zhang, D. 2022. Are firms motivated to greenwash by financial constraints? Evidence from global firms’ data. Journal of International Financial Management & Accounting, 33(3): 459479.CrossRefGoogle Scholar
Zhang, X., Wei, J. T., & Wu, H. H. 2017. Family firm and analyst forecasts in an emerging economy. Management Decision, 55(9): 20182037.CrossRefGoogle Scholar
Zhu, Z., & Kang, Y. 2022. A far-reaching parental love? Co-governance of intergenerational succession and innovation activities in Chinese family firms. Management and Organization Review, 18(2): 358394.CrossRefGoogle Scholar