Environmental Capabilities and Corporate Strategy: Exploring Acquisitions Among US Manufacturing Firms

Luca Berchicci, G Dowell, AA King

Research output: Contribution to journalArticleAcademicpeer-review

77 Citations (Scopus)

Abstract

In this article, we investigate whether environmental capabilities influence firms' corporate strategies, a topic that has received little attention to date. We hypothesize that firms are more likely to acquire facilities when ownership facilitates the transfer of capabilities either to or from the facility. Using a panel from the U.S. government's Toxics Release Inventory Program, we find firms with superior environmental capabilities are significantly more likely to acquire physically proximate facilities with inferior environmental capabilities and vice versa. Our results extend theories of both corporate and environmental strategy.
Original languageEnglish
Pages (from-to)1053-1071
Number of pages19
JournalStrategic Management Journal
Volume33
Issue number9
DOIs
Publication statusPublished - 2012

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