PMID- 33670749
OWN - NLM
STAT- PubMed-not-MEDLINE
DCOM- 20210426
LR  - 20210426
IS  - 1660-4601 (Electronic)
IS  - 1661-7827 (Print)
IS  - 1660-4601 (Linking)
VI  - 18
IP  - 4
DP  - 2021 Feb 18
TI  - The Interactions of Absorptive Capacity, Buffer Inventory, and Toxic Emissions on 
      Firm Value.
LID - 10.3390/ijerph18041979 [doi]
LID - 1979
AB  - A significant amount of research has been conducted on the impacts of emissions 
      reduction, absorptive capacity, and buffer inventory on firm performance. 
      According to the resource-based view (RBV), absorptive capacity and buffer 
      inventory are organizational capabilities and resources to create sustainable 
      competitive advantages. Yet, the resource orchestration perspective (ROP) of the 
      RBV emphasizes that firms need to develop a new capability to orchestrate and 
      deploy their existing capabilities and resources. From an organizational learning 
      perspective, firms with the low-level release of toxic chemicals have established 
      a structured system and systematic organizational routines, strengthening their 
      learning capabilities to share and use internal and external information across 
      functional areas for continuous improvements. This study explores and seeks to 
      understand toxic emissions through systematic operational routines as an 
      organizational mechanism. These routines orchestrate and deploy the firm-specific 
      absorptive capacity and buffer inventory to generate a sustainable competitive 
      advantage. We examine the impacts of the absorptive capacity and buffer inventory 
      on firm value in terms of Tobin's Q, respectively. We also explore how such 
      impacts are moderated by toxic emissions. Our results show that the absorptive 
      capacity significantly enhances the market value of firms. However, the 
      relationship between the buffer inventory and firm value is insignificant. Our 
      additional analyses indicate that the impacts of the absorptive capacity and 
      buffer inventory on the firm value are both significantly positive when firms 
      release low toxic chemicals. Our results further suggest that firms can maximize 
      their market value with a high absorptive capacity, high buffer inventory, and 
      low toxic emissions.
FAU - Yiu, Lik Man Daphne
AU  - Yiu LMD
AD  - School of Business, Macau University of Science and Technology, Macau S.A.R, 
      China.
FAU - Wu, Ka Yui Karl
AU  - Wu KYK
AD  - School of Business, Singapore University of Social Sciences, Singapore 599494, 
      Singapore.
LA  - eng
PT  - Journal Article
DEP - 20210218
PL  - Switzerland
TA  - Int J Environ Res Public Health
JT  - International journal of environmental research and public health
JID - 101238455
SB  - IM
PMC - PMC7922200
OTO - NOTNLM
OT  - absorptive capacity
OT  - buffer inventory
OT  - firm value
OT  - toxic emissions
COIS- The authors declare no conflict of interest.
EDAT- 2021/03/07 06:00
MHDA- 2021/03/07 06:01
PMCR- 2021/02/01
CRDT- 2021/03/06 01:08
PHST- 2021/01/30 00:00 [received]
PHST- 2021/02/12 00:00 [revised]
PHST- 2021/02/15 00:00 [accepted]
PHST- 2021/03/06 01:08 [entrez]
PHST- 2021/03/07 06:00 [pubmed]
PHST- 2021/03/07 06:01 [medline]
PHST- 2021/02/01 00:00 [pmc-release]
AID - ijerph18041979 [pii]
AID - ijerph-18-01979 [pii]
AID - 10.3390/ijerph18041979 [doi]
PST - epublish
SO  - Int J Environ Res Public Health. 2021 Feb 18;18(4):1979. doi: 
      10.3390/ijerph18041979.