Herding behavior in environmental orientation: A tail of emission, innovation and resource handling
Issued Date
2024-03-10
Resource Type
ISSN
09596526
Scopus ID
2-s2.0-85185197459
Journal Title
Journal of Cleaner Production
Volume
444
Rights Holder(s)
SCOPUS
Bibliographic Citation
Journal of Cleaner Production Vol.444 (2024)
Suggested Citation
Saeed A., Thanakijsombat T., Rind A.A., Sarang A.A.A. Herding behavior in environmental orientation: A tail of emission, innovation and resource handling. Journal of Cleaner Production Vol.444 (2024). doi:10.1016/j.jclepro.2024.141251 Retrieved from: https://repository.li.mahidol.ac.th/handle/123456789/97363
Title
Herding behavior in environmental orientation: A tail of emission, innovation and resource handling
Author(s)
Corresponding Author(s)
Other Contributor(s)
Abstract
This paper is the inaugural attempt to investigate the herding behavior of firms in the context of environmental orientation to achieve the UN SDGs (Sustainable Development Goals) in the ASEAN region. Insights from the previous literature infer that peer effect is visibly seen in firms across various fields, especially amongst their CSR and ESG performance. Using data from the Thai listed firms, we document strong evidence of peer effects concerning environmental performance and its dimensions (emission reduction, product innovation, and resource reduction). The targeted time frame for the current study is from 2009 to 2019 for which we analyze the firms listed on the Thailand Stock Exchange (SET). Moreover, the results of our study support the fact that mimicking behavior is one of the common behaviors that is followed by the majority of the firms keeping in view their varied purposes which include enhancing their market reputation, increasing profits, attracting shareholders and investors and most importantly raising their sustainability standing. Thus, overall our study highlights the main perspective that peer effects and herding behavior a common practices amongst firms concerning their environmental policies.