Governança Corporativa e Inovação Verde: Aspectos teóricos, análise configuracional brasileira e regionalidade

Abstract

Background: The growing global environmental management and the imperative of a sustainable development paradigm have stimulated greater engagement in green innovation (GI), which is influenced by three main factors: a) regional dimensions, based on institutional theory, which consider the contextual structures in which companies operate; b) organizational attributes, supported by the resource-based perspective, which denote internal capabilities for implementing environmental strategies; and c) internal determining factors, based on upper echelons and agency theories, which highlight the influence of corporate governance (CG) actors in strategic decision-making processes. Objective: To analyze Corporate Governance as a factor that enhances Green Innovation, considering the aspects of the main decision-making agents, their interdependent actions and the regional context. For a robust analysis, three essays were developed with the following objectives: i) To present a literature map that portrays different aspects of the key CG actors that favor GI; ii) To present different CG configurations that favor high performance in GI in Brazil; iii) To examine the influence of regional sustainability factors and CEO regional ties on the adoption of RI strategies. Method: The following approaches were adopted for a comprehensive analysis: i) a systematic literature review using the Proknow-C method, covering six databases from 1987 to 2024; ii) a qualitative empirical study using the Qualitative Comparative Analysis (QCA) method on a sample of 138 publicly traded Brazilian companies for the cross-sectional period of 2023; iii) a quantitative empirical study using the Panel Data Regression method, on a sample of 138 Brazilian companies, in the period between 2015-2023. Results: In the initial investigation, a literature map is proposed, which provides an overview of thematic interconnections, and the prevailing theories that explain thematic correlations, in addition to research gaps. The second study reveals that CEOs with high levels of expertise and prestige are associated with more effective green innovation strategies. In addition, boards with greater breadth, in terms of diversity, and greater depth, with expertise and social capital, also play an important role. In addition, balanced shareholding policies drive sustainable practices. The analysis outlined six distinct corporate governance configurations that promote high green innovation, indicating that both powerful CEOs and those with less influence can promote green innovation, as long as they are integrated into balanced governance arrangements. The results of the third study demonstrate that regions with a high Sustainable Development Index (SDI) significantly influence the adoption of general green innovation strategies by companies. In addition, the international experience of the CEO in countries with greater sustainable development shows positive results with green process and organizational innovation. However, the regional ties of the CEO may represent a domestic view and be a barrier to the RI. Adherence of the research to the area of concentration of the PPGAdm (Regionality and Management) and to the line of research: By focusing on the regionality and management of organizations, this research sought to elucidate, through institutional theory, the environmental influences on companies' sustainable strategies. Furthermore, based on theories of upper echelons, the study sought to clarify the roles of corporate governance actors and regional situations acculturated by the CEO in the adoption of Green Innovation strategies. The analysis confirms the regional influence, decreasing that the regional IDS and the international experiences of the CEO strengthen green innovation. This research reinforces the critical role of corporate governance and the regional context in promoting green innovation practices, strengthening a perspective of sustainable development, which is intrinsically linked to organizational management and regionality. Impact and innovative character in intellectual production: In the theoretical field, this thesis presents a robust and innovative approach, proposing a literature map on corporate governance and green innovation (CG-IV), identifying gaps and suggesting directions for future research. The empirical studies introduce an original approach in the Brazilian context, using a configurational analysis that considers the interdependence of the main key players in CG, overcoming the limitations of individual approaches. In addition, the research explores how regionality and regional acculturation of the CEO impact the adoption of green innovation practices, providing new perspectives on the influence of regional factors. And, by adopting a multi-theoretical approach, the thesis offers a broader and more in-depth view of the CG-IV relationship, expanding debates on sustainable development. Economic, social and regional impact: The results have practical relevance by providing subsidies for business leaders, environmentalists, policymakers, legislators, regulators, civil society organizations, markets and communities by proposing strategic paths to align corporate governance and green innovation, which strengthens the legitimacy of organizations and contributes to sustainable development. Professionals and managers can benefit from these findings by understanding the factors that favor the adoption of green innovation, optimizing executive recruitment, selection, and training processes in favor of sustainable development. Banks, lenders, and investors who aim to manage their risks and direct loans and investments linked to sustainability can also benefit from this debate. By stimulating RI, the research contributes to a highly relevant debate for improving the general quality of life, since engagement in green innovations promotes social, economic, and environmental benefits. This discussion reinforces the role of organizations as agents of social transformation. Regional implications: Based on the results obtained, organizations that operate in the regional area of influence of this postgraduate program can reflect on corporate governance strategies that strengthen green innovation practices. Furthermore, we have shown that green innovation can be influenced by the regional environment, through the Sustainable Development Index (SDI), which is based on the 17 Sustainable Development Goals, reinforcing the role of regional development agents, such as public policy makers, public agents, business schools, and various organizations, in discussing the topic in favor of sustainable development. Sustainable Development Goals addressed in the research: The discussions presented contribute to the debate on topics aligned with the Sustainable Development Goals (SDGs), since green innovation can involve areas that include renewable energy (SDG 7), sustainable infrastructure and industrial innovation (SDG 9), sustainable cities (SDG 11), responsible consumption and production practices (SDG 12), and actions against climate change that include green innovations in resource management (SDG 13). In addition, the regional SDI, which is based on the 17 SDGs, is considered in the analysis.