- List of Figures
- List of Tables
- List of Abbreviations
- List of Contributors
- Retrospective, Perspective, and Prospective: Introduction to the Oxford Handbook on Business and the Natural Environment
- Competitive Strategy and the Environment: A Field of Inquiry Emerges
- International Business and the Environment
- Environmental Entrepreneurship
- The Value of Managing Stakeholders
- Industry Self-Regulation and Environmental Protection
- Environmental Governance
- Business and Environmental Law
- Cognitive Barriers to Environmental Action: Problems and Solutions
- Intergenerational Beneficence and the Success of Environmental Sustainability Initiatives in Organizational Contexts
- Organizational Culture and Environmental Action
- Institutional Approaches to Organizations and the Natural Environment
- Institutional Pressures and Organizational Characteristics: Implications for Environmental Strategy
- Social Movements, Business, and the Environment
- Greener Supply Chain Management
- Closed-Loop Supply Chains
- Industrial Ecology: Business Management in a Material World
- Information Systems, Business, and the Natural Environment: Can Digital Business Transform Environmental Sustainability?
- From Green Marketing to Marketing for Environmental Sustainability
- Why not Choose Green? Consumer Decision Making for Environmentally Friendly Products
- Using Market Segmentation Approaches to Understand the Green Consumer
- Sustainability and Social Responsibility Reporting and the Emergence of the External Social Audits: The Struggle for Accountability?
- Environmental Management, Measurement, and Accounting: Information for Decision and Control?
- Corporate Environmental Financial Reporting and Financial Markets
- Values-Driven and Profit-Seeking Dimensions of Environmentally Responsible Investing
- Environmental Risks and Financial Markets: A Two-Way Street
- Corporate Decision-Making, Net Present Value, and the Environment
- The Relevance of the Natural Environment for Corporate Social Responsibility Research
- Business, Society, and the Environment
- The New Corporate Environmentalism and the Symbolic Management of Organizational Culture
- Critical Perspectives on Business and the Natural Environment
- Approaching Business and the Environment with Complexity Theory
- Beyond the Brave New World: Business for Sustainability
- Looking Back, Thinking Forward: Distinguishing Between Weak and Strong Sustainability
- Enterprise Sustainability 2.0: Aesthetics of Sustainability
- Tomorrow's C-Suite Agenda
- The Third-Generation Corporation
- Capitalism Critique: Systemic Limits on Business Harmony with Nature
Abstract and Keywords
This article explores some of the ways that corporations coordinate to set the rules of business competition. Such coordination is often called “industry self-regulation” (ISR). ISR is sometimes created by actors that are not “industrial”. Its enforcement may not be “self” regulated, but rely instead on the sanctions of outsiders. It first describes the difficulties and promises of self-regulation as a mechanism to address environmental problems. Research has demonstrated that the effectiveness of the initiatives is subject to the credible enforcement of their rules and their interactions with other institutions. Stakeholders must infer the credibility of the certification by gauging the interests of the certifier. Informed customers and intermediaries support the functioning of self-regulatory institutions. Self-regulatory programs created by business enterprises take forms that appear to be designed to solve exchange problems. Firms can create misleading programs that substitute good feeling for good action.
Andrew King is a Professor at Tuck School of Business, Dartmouth College.
Andrea M. Prado is Assistant Professor at INCAE Business School.
Jorge Rivera is Associate Professor of Strategic Management and Public Policy, School of Business, George Washington University.
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