Global ecological dependence and multinationals' climate innovation: the role of climate risk exposure and institutional conditions

• 成果类型: Article; Early Access
• 署名作者: Genin, Aurora; Bu, Juan
• 署名单位: Indiana University System; Indiana University Bloomington; IU Kelley School of Business
• 刊物名称: JOURNAL OF INTERNATIONAL BUSINESS STUDIES
• ISSN/ISSBN: 0047-2506
• DOI: 10.1057/s41267-025-00793-z
• 发表日期: 2025
• 关键词: Climate risk; Climate innovation; Formal and informal institutions; multinational enterprises; Resource dependence theory; Natural resource-based view; Fixed-effects panel Poisson regression

摘要

Climate change poses significant global challenges to multinational enterprises (MNEs). One crucial solution hinges on the development of new technologies to mitigate climate change or adapt to its adverse effects. However, it remains unclear what factors can effectively motivate MNEs' development of climate innovation. Integrating the resource dependence theory and the natural resource-based view, we argue that MNEs' strategies are shaped by their dependence on the global ecological environment for natural resources-coined here as global ecological dependence. When exposed to elevated climate risks, MNEs tend to engage in climate innovation to assuage the uncertainty associated with their global ecological dependence. This tendency is moderated by climate-related formal and informal institutions that alter the perceived benefits and costs of climate innovation: stringent regulatory demand for climate action weakens this tendency as it increases firm costs and can divert resources, whereas heightened societal demand enhances this tendency as it can increase MNEs' perception of the benefits of climate innovation. We find evidence for our hypotheses in a panel of MNEs listed in the United States from 1995 to 2017. Our study contributes to resource dependence theory and extends our understanding of climate innovation as a viable solution to climate change. Le changement climatique impose aux entreprises multinationales (Multinational Enterprises-MNEs) des d & eacute;fis mondiaux consid & eacute;rables. Une solution cruciale repose sur le d & eacute;veloppement des nouvelles technologies pour att & eacute;nuer le changement climatique ou s'adapter & agrave; ses effets n & eacute;fastes. N & eacute;anmoins, ne sont pas encore clairement d & eacute;finis des facteurs susceptibles de motiver efficacement le d & eacute;veloppement de l'innovation climatique par les MNEs. En int & eacute;grant la th & eacute;orie de la d & eacute;pendance aux ressources et celle fond & eacute;e sur les ressources naturelles, nous argumentons que les strat & eacute;gies des MNEs sont fa & ccedil;onn & eacute;es par leur d & eacute;pendance & agrave; l'& eacute;gard de l'environnement & eacute;cologique mondial pour ce qui est des ressources naturelles-ce que nous appelons ici la d & eacute;pendance & eacute;cologique mondiale. Lorsqu'elles sont expos & eacute;es & agrave; des risques climatiques & eacute;lev & eacute;s, les MNEs ont tendance & agrave; s'engager dans l'innovation climatique afin d'att & eacute;nuer l'incertitude li & eacute;e & agrave; leur d & eacute;pendance & eacute;cologique mondiale. Cette tendance est mod & eacute;r & eacute;e par les institutions formelles et informelles li & eacute;es au climat lesquelles modifient des b & eacute;n & eacute;fices et des co & ucirc;ts per & ccedil;us de l'innovation climatique : une demande r & eacute;glementaire stricte en mati & egrave;re d'action climatique affaiblit cette tendance car elle augmente les co & ucirc;ts de l'entreprise et peut d & eacute;tourner les ressources, tandis qu'une demande soci & eacute;tale accrue renforce cette tendance car elle peut accro & icirc;tre la perception des b & eacute;n & eacute;fices de l'innovation climatique par les MNEs. Nos hypoth & egrave;ses sont corrobor & eacute;es par nos analyses sur un panel de MNEs cot & eacute;es aux & Eacute;tats-Unis entre 1995 et 2017. Notre recherche contribue & agrave; la th & eacute;orie de la d & eacute;pendance aux ressources, et & eacute;largit notre compr & eacute;hension de l'innovation climatique comme solution viable au changement climatique. El cambio clim & aacute;tico impone desaf & iacute;os globales sustanciales a las empresas multinacionales (EMNs). Una soluci & oacute;n crucial depende del desarrollo de nuevas tecnolog & iacute;as para mitigar el cambio clim & aacute;tico o adaptarse a sus efectos adversos. Sin embargo, a & uacute;n no est & aacute; claro qu & eacute; factores pueden motivar efectivamente el desarrollo de innovaci & oacute;n clim & aacute;tica por parte de las empresas multinacionales. Integrando la teor & iacute;a de la dependencia de recursos y la visi & oacute;n basada en recursos naturales, argumentamos que las estrategias de las empresas multinacionales est & aacute;n moldeadas por su dependencia del entorno ecol & oacute;gico global para obtener recursos naturales, acu & ntilde;ado aqu & iacute; como dependencia ecol & oacute;gica global. Cuando est & aacute;n expuestas a riesgos clim & aacute;ticos elevados, las empresas multinacionales tienden a involucrarse en innovaci & oacute;n clim & aacute;tica para mitigar la incertidumbre asociada con su dependencia ecol & oacute;gica global. Esta tendencia es moderada por instituciones formales e informales relacionadas con el clima que alteran los beneficios y costos percibidos de la innovaci & oacute;n clim & aacute;tica: la demanda regulatoria estricta de acci & oacute;n clim & aacute;tica debilita esta tendencia ya que aumenta los costos empresariales y puede desviar recursos, mientras que una mayor demanda social refuerza esta tendencia ya que puede aumentar la percepci & oacute;n de las empresas multinacionales sobre los beneficios de la innovaci & oacute;n clim & aacute;tica. Encontramos evidencia para nuestras hip & oacute;tesis en un panel de empresas multinacionales cotizadas en Estados Unidos desde 1995 hasta 2017. Nuestro estudio contribuye a la teor & iacute;a de la dependencia de recursos y ampl & iacute;a nuestra comprensi & oacute;n de la innovaci & oacute;n clim & aacute;tica como una soluci & oacute;n viable al cambio clim & aacute;tico. Mudan & ccedil;as clim & aacute;ticas imp & otilde;em desafios globais significativos a empresas multinacionais (MNEs). Uma solu & ccedil;& atilde;o crucial depende do desenvolvimento de novas tecnologias para mitigar mudan & ccedil;as clim & aacute;ticas ou se adaptar a seus efeitos adversos. No entanto, ainda n & atilde;o est & aacute; claro quais fatores podem motivar efetivamente o desenvolvimento de inova & ccedil;& otilde;es clim & aacute;ticas por MNEs. Integrando a teoria da depend & ecirc;ncia de recursos e a vis & atilde;o baseada em recursos naturais, argumentamos que as estrat & eacute;gias de MNEs s & atilde;o moldadas por sua depend & ecirc;ncia do ambiente ecol & oacute;gico global para obten & ccedil;& atilde;o de recursos naturais-denominada aqui como depend & ecirc;ncia ecol & oacute;gica global. Quando expostas a riscos clim & aacute;ticos elevados, MNEs tendem a investir em inova & ccedil;& otilde;es clim & aacute;ticas para atenuar a incerteza associada & agrave; sua depend & ecirc;ncia ecol & oacute;gica global. Essa tend & ecirc;ncia & eacute; moderada por institui & ccedil;& otilde;es formais e informais relacionadas ao clima que alteram os percebidos benef & iacute;cios e custos da inova & ccedil;& atilde;o clim & aacute;tica: exig & ecirc;ncias regulat & oacute;rias rigorosas por a & ccedil;& otilde;es clim & aacute;ticas enfraquecem essa tend & ecirc;ncia ao aumentar custos de empresas e desviar recursos, enquanto uma maior demanda social refor & ccedil;a essa tend & ecirc;ncia ao elevar a percep & ccedil;& atilde;o de MNEs sobre os benef & iacute;cios da inova & ccedil;& atilde;o clim & aacute;tica. Encontramos evid & ecirc;ncias para nossas hip & oacute;teses em um painel de MNEs listadas nos Estados Unidos entre 1995 e 2017. Nosso estudo contribui para a teoria da depend & ecirc;ncia de recursos e amplia nossa compreens & atilde;o da inova & ccedil;& atilde;o clim & aacute;tica como uma solu & ccedil;& atilde;o vi & aacute;vel para mudan & ccedil;as clim & aacute;ticas. (sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic) (MNE) (sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic).(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic), (sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic).(sic)(sic), (sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)MNE(sic)(sic)(sic)(sic)(sic)(sic)(sic).(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic), (sic)(sic)MNE(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)--(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic).(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic), MNE(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic), (sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic).(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic), (sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic): (sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic), (sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic), (sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic), (sic)(sic)(sic)(sic)(sic)(sic)(sic)MNE(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic).(sic)(sic)(sic)1995(sic)2017(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)MNE(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic).(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic), (sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic)(sic).