Proactive environmental strategy and firm performance: The moderating role of corporate venturing

This article investigates how two types of proactive environmental strategies (PESs) – proactive green management and green political influence – affect firm performance directly and under varying conditions characterising corporate venturing activities (domestic versus international). The results obtained by analysing a multi-informant dataset reveal that proactive green management has a stronger positive impact on firm performance than green political influence does. Moreover, international venturing has a greater positive moderating effect than domestic venturing on the link between proactive green management and firm performance, whereas, domestic venturing has a stronger positive moderating effect than international venturing on the relationship between green political influence and firm performance. This article contributes by differentiating between two important forms of corporate venturing, by distinguishing two important types of PESs and by offering a more granular framework for aligning corporate venturing activities with PESs.