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|Title:||Fruits From the Tree of Sustainability. Value Creation in Green Strategic Partnerships|
|Abstract:||The importance of the environmental agenda has been rising exponentially in recent years. Firms face mounting pressure from multiple stakeholder groups to respond to environmental concerns. In a quest for ‘greener’ businesses, many companies increasingly rely on inter-firm strategic partnerships. Despite growing popularity among practitioners, green partnerships still remain a poorly understood phenomenon. The questions of how value is created in green partnerships, what factors drive their performance and what short-term and long-term implications of green partnerships are, still wait to be explored. In this dissertation, the topic of value creation in green strategic partnerships is analyzed in a two-step project. Study 1 examines the financial outcomes of inter-firm green strategies by exploring variations in stock market valuation of green strategic partnerships across multiple industries and functional domains. Study 2 focuses on the innovation-related outcomes by examining firm green patenting activities in the context of inter-firm networks in the chemical industry. Three complementary theoretical perspectives are utilized: corporate social responsibility (CSR) literature, organizational capabilities and social networks analysis. Data is collected based on extensive archival search of multiple sources. The major insight from this dissertation is that green strategic partnerships can be instrumental in unlocking value creation potential of a firm, but this phenomenon does not always happen and not for every firm. Financial implications of green partnerships vary depending on the functional domain of a partnership, a history of a firm’s environmental performance and the environmental profile of the industry. Green technology partnerships indeed enhance firm green innovation, as reflected in a greater number of successful green patent applications, but they do so at the level of firm networks, not at the level of the industry network. The properties of knowledge resources such as breadth of knowledge pool, knowledge compatibility, and knowledge specificity (green versus non-green), accumulated in a firm network do affect firm propensity to achieve green innovation. The structural properties of networks influence firm green innovation only at the firm network level. More specifically firm network density is positively related to firm green innovation. At the industry network level, however, none of the explored structural properties such as global network reach, global network clustering, and global network transitivity, have any impact on firm green innovation.|
|Appears in Collections:||Open Access Dissertations and Theses|
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