Consejos de Administración y Huella Ecológica: La Influencia de la Independencia del Consejo en la Reducción del Impacto Ambiental de la Empresa Ministerio de Ciencia e innovación: PROYECTOS ORIENTADOS A LA TRANSICIÓN ECOLÓGICA Y A LA TRANSICIÓN DIGITAL 2021 TED2021-129829B-I00 Objectives The project focuses on analyzing how the independence of boards of directors and environmental investor activism influence companies’ environmental development. Its general objectives are: (1) to identify the impact of board independence, (2) to assess the influence of environmental investor activism, and (3) to analyze how investor activism affects the relationship between these two factors. The project aligns with European and national research priorities, such as decarbonization, renewable energy, the circular economy, and the climate objectives of the Horizon Europe program and the Spanish Science, Technology, and Innovation Strategy. Scientific/technical impact The project will contribute to the academic literature on corporate environmental management by addressing the role of board independence and investor activism. It will enable a deeper integration of key theories, such as agency theory, institutional theory, and stakeholder theory, strengthening knowledge on the relationship between corporate governance and sustainability. Social impact The project directly impacts the ecological transition, aligning with the UN’s SDG 12 on sustainable production and consumption. It aims to promote sustainable practices in companies, highlighting the influence of investor activism and independent boards. Principal investigators Juan Alberto Aragón Correa Nuria E. Hurtado Torres Research team Javier Delgado Ceballos Jose Aureliano Martín Segura Natalia Ortiz Martínez de Mandojana Inmaculada Martín Tapia Eulogio Cordón Pozo Jose Manuel de la Torre Ruiz Antonio Rueda Manzanares María del Campo Bermúdez Edo Work team María Ruiz Castillo Elena Mellado García Mike Barnett Alfred Marcus Manuel Bueno García Carolina Córcoles Gil Francisco David Castaño Maurin Julián Ignacio Urriza Article/ books/ book chaptersCongresses/WorkshopsVideos/ infographics and other publicationsArticle/ books/ book chapters Aguilera, R. V., & Ruiz Castillo, M. (2025). Toward an updated corporate governance framework: Fundamentals, disruptions, and future research. BRQ Business Research Quarterly, 0(0). https://doi.org/10.1177/23409444251320399 https://digibug.ugr.es/handle/10481/102898 Mellado-Garcia, E., Ortiz-de-Mandojana, N., & Aragon-Correa, J. A. (2024). Avoiding relapses after crises: Exploring the influence of firm investors’ characteristics on organizational resilience. BRQ Business Research Quarterly, 0(0). https://digibug.ugr.es/handle/10481/91853 Ruiz‐Castillo, M., Aragón‐Correa, J. A., & Hurtado‐Torres, N. E. (2024). Independent directors and environmental innovations: How the visibility of public and private shareholders’ environmental activism moderates the influence of board independence. Business Strategy and the Environment, 33(2), 424-440. https://digibug.ugr.es/handle/10481/83057 Ordonez-Borrallo, R., Ortiz-de-Mandojana, N., & Delgado-Ceballos, J. (2024). Green bonds and environmental performance: The effect of management attention. Corporate Social Responsibility and Environmental Management, 1–16. https://doi.org/10.1002/csr.2858 https://digibug.ugr.es/handle/10481/93248 De la Torre-Ruiz, J.M., Cordón-Pozo, E., Vidal Salazar, M.D. and Ortiz-Perez, A. (2024), “Pay information and employees’ perception of organizational support: the mediating role of pay satisfaction”, Employee Relations, Vol. 46 No. 9, pp. 161-177. https://doi.org/10.1108/ER-07-2023-0356 https://digibug.ugr.es/handle/10481/94292 De la Torre-Ruiz, J. M., & Ferrón-Vílchez, V. (2024). Determinants of managerial perceptions of the impact of telework: The effect of information communication technology support, trust, and frequency of communication. Technological Forecasting and Social Change, 203, 123365. https://doi.org/10.1016/j.techfore.2024.123365 Bueno-García, M., & Ahmadova, G. (2024). The influence of state ownership on environmental proactivity: An institutional perspective of international firms. Corporate Social Responsibility and Environmental Management, 31(3), 1531–1549. https://doi.org/10.1002/csr.2651 Ellimäki, P., Aguilera, R.V., Hurtado-Torres, N.E. et al. The link between foreign institutional owners and multinational enterprises’ environmental outcomes. Journal of International Business Studies 54, 910–927 (2023). https://doi.org/10.1057/s41267-022-00580-0 Aragón-Correa, J. A., de la Torre-Ruiz, J. M., & Vidal-Salazar, M. D. (2023). Agglomerations around natural resources in the hospitality industry: Balancing growth with the Sustainable Development Goals. BRQ Business Research Quarterly, 26(1), 11-26. https://doi.org/10.1177/23409444221103283 https://digibug.ugr.es/bitstream/handle/10481/76360/23409444221103283.pdf?sequence=1&isAllowed=y Delgado-Ceballos, J., Ortiz-De-Mandojana, N., Antolín-López, R., & Montiel, I. (2023). Connecting the Sustainable Development Goals to firm-level sustainability and ESG factors: The need for double materiality. BRQ Business Research Quarterly, 26(1), 2-10. https://doi.org/10.1177/23409444221140919 Ellimäki, P., Aguilera, R.V., Hurtado-Torres, N.E. et al. Correction: The link between foreign institutional owners and multinational enterprises’ environmental outcomes. J Int Bus Stud 55, 125 (2024). https://doi.org/10.1057/s41267-023-00671-6 Montalvo-Arroyo, S., de la Torre-Ruiz, J.M., Vidal-Salazar, M.D. and Cordón-Pozo, E. (2023), “Effects of information on salary satisfaction during the COVID-19 pandemic: an equity-based mediation model”, Academia Revista Latinoamericana de Administración, Vol. 36 No. 3, pp. 371-387. https://doi.org/10.1108/ARLA-03-2023-0054 Cordón-Pozo, E., Vidal-Salazar, M. D., de la Torre-Ruiz, J. M., & Gómez-Haro, S. (2023). Benefit Communication and Its Effects on Employees’ Benefit Level Satisfaction: The Multiple Mediating Effects of POS and Benefit Comparison. International Journal of Business Communication, 60(1), 331-350. https://doi.org/10.1177/2329488420943667 Ahmadova, G., Bueno García, M., Delgado-Márquez, B., & Pedauga, L. (2023). Firm- and Country-Specific Advantages: Towards a Better Understanding of MNEs’ Environmental Performance in the International Arena. Organization & Environment, 36(3), 468-497. https://doi.org/10.1177/10860266221129699 Congresses/Workshops Nombre del congreso/seminario/conferencia/jornada técnica: XXXIII Congreso Internacional (ACEDE) Tipo de comunicación: Comunicación oral. Unintended consequences of shareholder activism: an examination through the lens of socio-cognitive stakeholder theory Autores/as: Ruiz Castillo, M., Aguilera, R., Aragón-Correa, J. A., & Hurtado Torres, N. E. Año: 2024 Nombre del congreso/seminario/conferencia/jornada técnica: Academy of Management Tipo de comunicación: Comunicación oral. Unintended Consequences Of Shareholder Activism: A Socio-Cognitive Stakeholder Theory View Autores/as: Ruiz Castillo, M., Aguilera, R., Aragón-Correa, J. A., & Hurtado Torres, N. E. Año: 2024 Nombre del congreso/seminario/conferencia/jornada técnica: Sustainability Research and Innovation Congress Tipo de comunicación: Woorkshop. Navigating Real-World Environmental Impact Assessment. Autores/as: Ruiz Castillo, M., Mellado García, E., & Ellimäki, P. Año: 2024 Nombre del congreso/seminario/conferencia/jornada técnica: GRONEN Conference 2024 Tipo de comunicación: Comunicación oral. Navigating Unanticipated Outcomes: Understanding Firms’ Responses to ESG Shareholder Activism through a Socio-Cognitive Stakeholder Lens. Autores/as: Ruiz Castillo, M.; Aguilera, R.; Aragón-Correa, J. A.; Hurtado-Torres, N. Año: 2024 Nombre del congreso/seminario/conferencia/jornada técnica: GRONEN Conference 2024 Tipo de comunicación: Comunicación oral. Structural Design Among Hierarchical Systems: A Path Towards Higher-Level. Autores/as: Mellado-Garcia, E.; Ortiz-de-Mandojana, N.; Bansal, P. Año: 2024 Nombre del congreso/seminario/conferencia/jornada técnica: JMS Conference Tipo de comunicación: Comunicación oral. Structural design among hierarchical systems: A path towards higher-level resiliency. Autores/as: Mellado García, E.; Ortiz-de-Mandojana, N.; Bansal, P. Año: 2024 Nombre del congreso/seminario/conferencia/jornada técnica: ICEME Tipo de comunicación: Comunicación oral. The Effects of IT-Enabled Capabilities on a Firm’s Environmental Impacts: A Firm’s Absorptive Capacity of Big Data for Environmental Governance Autores/as: Aragón-Correa, J. A., & Bermudez-Edo, M. Año: 2024 Nombre del evento: EURAM Conference 2023. Tipo de comunicación: Internal company conditions to improve environmental performance after corporate green bonds issuance. Autores/as: Ordoñez Borrallo,R., Delgado Ceballos, J. y Ortiz de Mandojana, N. Año: 2023 Nombre del evento: EGOS 2023 Colloquium Tipo de comunicación: Comunicación oral. The role of corporate green bonds in driving environmental attention and performance: An empirical study. Autores/as: Ordoñez-Borrallo, R.; Ortiz de Mandojana, N.; Delgado-Ceballos, J. Año: 2023 Nombre del evento: GRONEN Conference 2024 Tipo de comunicación: Organización (Co-Chair). Sustainable Business Horizons: Educating and Inspiring Managers for Positive Impact. Autores/as: Delgado-Ceballos, J. Año: 2024 Nombre del evento: GRONEN Conference 2023 Tipo de comunicación: Organización (Co-Chair). Revitalize your Teaching on Sustainability – Best Practices and Novel Approaches. Autores/as: Delgado-Ceballos, J. Año: 2023 Nombre del evento: GRONEN Conference 2024 Tipo de comunicación: Organización. Sustainable Business Horizons: Educating and Inspiring Managers for Positive Impact. Autores/as: Co-Chair: Ordoñez-Borrallo, R.; Ortiz de Mandojana, N.; Delgado-Ceballos, J. Año: 2024 Nombre del congreso/seminario/conferencia/jornada técnica: Journal Studies Special Issue Tipo de comunicación: Workshop Autores/as: Alberto Aragón Correa. Año: 2024 Nombre del congreso/seminario/conferencia/jornada técnica: ITISE Conference Tipo de comunicación: Comunicación Oral (online). The Impact of Greenhouse Gas Emissions on Global Economic Activity and Health . Online Conference. Autores/as: Martin Segura, J.A & Pérez López, C. Año: 2024 Nombre del congreso/seminario/conferencia/jornada técnica: EURAM Conference Tipo de comunicación: Comunicación Oral. Impression Management: Cost of debt and resilience. Autores/as: Valbuena-Hernandez, J., Martin-Tapia, I., y Ortiz-de-Mandojana, N. Año: 2023 Nombre del congreso/seminario/conferencia/jornada técnica: AIB Conference Tipo de comunicación: Comunicación Oral. Impression Management: Cost of debt and resilience. Autores/as: Valbuena-Hernandez, J., Martin-Tapia, I., y Ortiz-de-Mandojana, N. Año: 2023 Nombre del congreso/seminario/conferencia/jornada técnica: XXXII Congreso Internacional (ACEDE) Tipo de comunicación: Comunicación Oral. Does reinforcing sustainable performance help in times of corporate financial crisis? The mediating effect of investors’ commitment. Autores/as: Mellado García, E., Ortiz de Mandojana, N., y Aragón Correa, J.A. Año: 2023 Nombre del congreso/seminario/conferencia/jornada técnica: XXXII Congreso Internacional (ACEDE) Tipo de comunicación: Comunicación Oral. The role of corporate green bonds in driving environmental attention and performance: An empirical study. Autores/as: Ordoñez Borrallo, R., Ortiz de Mandojana, N., y Delgado Ceballos, J. Año: 2023 Nombre del congreso/seminario/conferencia/jornada técnica: XXXII Congreso Internacional (ACEDE) Tipo de comunicación: Comunicación Oral. Signaling environmental performance and risk. Is hypocrisy a threat for the firm?. Autores/as: Valbuena-Hernandez, J., Martin-Tapia, I., y Ortiz-de-Mandojana, N. Año: 2023 Nombre del congreso/seminario/conferencia/jornada técnica: II International Conference on Sustainable Finance (ICSF23) Tipo de comunicación: Comunicación Oral. Signaling environmental performance and risk. Is hypocrisy a threat for the firm?. Autores/as: Valbuena-Hernandez, J., Martin-Tapia, I., y Ortiz-de-Mandojana, N. Año: 2023 Nombre del congreso/seminario/conferencia/jornada técnica: XXXII Congreso Internacional (ACEDE) Tipo de comunicación: Conferencia Invitada en Plenaria. Measuring and disclosing corporate sustainability information. Autores/as: Ortiz de Mandojana, N. Año: 2023 Nombre del congreso/seminario/conferencia/jornada técnica: XXXIII Congreso Internacional (ACEDE) Tipo de comunicación: Comunicación Oral. La influencia del entorno institucional en el comportamiento medioambiental de las instalaciones industriales de los países europeos. Autores/as: Rueda Manzanares, A., Martín Segura, J.A., y Pérez López, C. Año: 2024 Videos/ infographics and other publications López Aristizábal P. & Bermúdez Edo M.: (2023). Estudio de la digitalización de las empresas de alimentos y bebidas en la Comunidad Autónoma de Andalucía. In Hurtado-Torres, N.E., Bermudez-Edo, M.C., Ortiz-de-Mandojana, N., & Aragón-Correa, J.A.: Challenges of the European Firms: Digitalization, Sustainability, and Internationalization, Editorial Kit-Book, Granada: Spain. Challenges of the European Firms Collection. https://digibug.ugr.es/handle/10481/89990 Martin Tapia, I., Rueda Manzanares, A., Ortiz Martínez de Mandojana, N., Mellado García, E., Ruiz Castillo, M., Aragón Correa, J. A., Hurtado Torres, N. E., Aguilera Caracuel, J., Delgado Ceballos, J., & Bueno García, M. (2024). Data processing at the European level in the TERAIN database: A smart dashboard prototype for corporate environmental performance assessment. Granada, Spain. https://digibug.ugr.es/handle/10481/92963 Aragón Correa, J.A.; Hurtado Torres, N.E.; Emilova Racheva, M.; Córcoles Gil, C. (2023).Understanding our Environmental Impact Scores. Toxic Environmental Risks Analytical Intelligence, Granada, Spain. https://digibug.ugr.es/handle/10481/92969 Ortiz- Martinez de Mandojana, N.; Aragón Correa, J.A.; Hurtado Torres, N.E.; Emilova Racheva, M.; Córcoles Gil, C. (2023).Understanding our Environmental Risk Indexes. Toxic Environmental Risks Analytical Intelligence, Granada, Spain. Ortiz-de-Mandojana, N., Antolín-López, R., How do companies measure and report corporate sustainability? A comparison among the most innovative European companies, Publications Office of the European Union, Luxembourg, 2023, doi:10.2760/935191, JRC132579 Antolín-López, R. and Ortiz-De-Mandojana, N., Measuring and disclosing Environmental, Social and Governance (ESG) information and performance, EUR 31372 EN, Publications Office of the European Union, Luxembourg, 2023, ISBN 978-92-76-61587-3, doi:10.2760/864272, JRC131932. Proyecto TED2021-129829B-I00 financiado por: Foto de Benjamin Child en Unsplash