Applying the reduce, reuse, and recycle principle in the hospitality sector: Its antecedents and performance implications. (25th May 2021)

• Record Type: Journal Article
• Authors: Ioannidis, Alexis; Chalvatzis, Konstantinos J.; Leonidou, Leonidas C.; Feng, Zhiteng
• Is Part Of: Business strategy and the environment. Volume 30:Number 7(2021)
• Page Start: 3394
• Page End: 3410
• Publication Date: 2021-05-25
• Subjects: 3Rs -- environmental strategy -- performance -- RBV -- sustainable development; Industrial management -- Environmental aspects -- Periodicals; Industries -- Environmental aspects -- Periodicals; 658.4083
• DOI: 10.1002/bse.2809
• Languages: English
• ISSNs: 0964-4733

Abstract

Abstract: Although the literature on eco‐friendly strategies followed by firms is abundant, the focus on the reduce, reuse, and recycle (3Rs) policies as the cornerstone of environmental sustainability is scarce. This study examines the 3Rs environmental strategy among 143 large organizations in the hospitality industry. We use the resource‐based view (RBV) of the firm theory to test the strategy's determinants and its impact on business performance on a suggested conceptualization level. As hypothesized, green corporate governance and environmental management systems, along with slack financial resources, were found to positively influence the adoption of a 3Rs environmental strategy. In turn, the implementation of the latter leads to superior business performance, measured in terms of operating profits and Tobin's Q . The study has several implications on a theoretical, managerial, and public policy level where intriguing directions for future research are provided.