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Book part
Publication date: 16 May 2024

John Holland

How can large international financial firms go green in authentic ways? What enhances ‘Net Zero action’? Changes in global banks, fund managers, and insurance firms are at the…

Abstract

How can large international financial firms go green in authentic ways? What enhances ‘Net Zero action’? Changes in global banks, fund managers, and insurance firms are at the heart of green finance. External change pressures – combined with problematic firm predispositions – exacerbate barriers to change and promote scepticism about authentic Net Zero change. Field research reveals main elements, connections, and interactions of this question by considering financial firms as complex socio-technical systems (Mitleton-Kelly, 2003). An interdisciplinary/holistic narrative approach (De Bakker et al., 2019) is adopted to design a conceptual framework that can support a green ‘behavioural theory of the financial firm’ (green BTFF). The BTFF presents an international version (Peng, 2001) of the resource-based view (RBV) of the firm (Barney, 1991; Hart, 1995; Teece et al., 1997).

The approach of this chapter is aimed at closing knowledge gaps and realign values in financial markets and society. By raising awareness about organised hypocrisy and facades (Brunsson, 1993; Cho et al., 2015; Schoeneborn et al., 2020) in financial firms the chapter aims at overcoming the gap between ‘talking’ and ‘walking’ in the financial sector. The chapter defines testable firm-level hypotheses for ‘Green Finance’ (Poterba, 2021) as well as – by implication – tests for ‘greenwashing’.

Details

Walking the Talk? MNEs Transitioning Towards a Sustainable World
Type: Book
ISBN: 978-1-83549-117-1

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Article
Publication date: 18 January 2024

Stefano Amato, Laura Broccardo and Andrea Tenucci

This study investigates the association between family firm status and the maturity level of management control systems (MCSs) by considering the moderating effect of process…

Abstract

Purpose

This study investigates the association between family firm status and the maturity level of management control systems (MCSs) by considering the moderating effect of process digitalization.

Design/methodology/approach

The authors conducted an empirical analysis on a sample of 106 Italian firms, utilizing both ordinary least squares and ordered logistic regression in this study.

Findings

By resorting to the MCS maturity model proposed by Marx et al. (2012), the empirical findings reveal that family firms do not differ from their nonfamily counterparts regarding MCS maturity. Furthermore, the degree of process digitalization is positively associated with the probability of adopting IT-related technologies in MCSs. Digitalization negatively moderates the relationship between family firm status and MCS maturity, resulting in family firms exhibiting a lower MCS maturity level than their nonfamily counterparts.

Research limitations/implications

Despite similar efforts in the digitalization process, family firms lag behind in the adoption of IT-enabled MCSs, which suggests that reduced agency issues in family firms constrain the MCS maturity level.

Practical implications

This study can assist practitioners in implementing a more mature MCS by considering the interplay between internal digitalization processes and family status of the firm, thereby enhancing the decision-making process.

Originality/value

This study adds novelty to an underexplored area at the intersection of MCSs, family firms and digitalization.

Details

Management Decision, vol. 62 no. 5
Type: Research Article
ISSN: 0025-1747

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