Kerrigan Unter
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Item type:Publication, Business Response Strategies to Climate Change: An Integrative and Research Frontiers OutlookAs climate change (CC)-related adversity has become more evident, physical CC impacts and the need to respond to it are now a prominent topic in the political agenda in multiple countries. Accordingly, businesses have begun to adopt strategies to seeking to respond to CC. Recently, strategy and general management scholars have produced a growing number of articles examining the factors that increase the adoption of CC strategies, and, in a few cases, the environmental and financial performance implications of these strategies. Our review indicates that: (a) business research tends to dismiss CC-related adversity, with much of the research on drivers of responses highlighting a clear anthropocentric bias; (b) many papers discuss either adaptation or mitigation without much examination of synergies and tradeoffs between strategies; and (c) we know little about what and how physical climate conditions affect firms and their ability to achieve and sustain a competitive advantage.Type:journal articleJournal:Organization & EnvironmentScopus© Citations 34 - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Where do we go from here? Muddling through business adaptation to climate change(2024); Jorge RiveraWe study the interrelations among climate change (CC)-related extreme events, adaptation strategies, and product price performance within the California wine industry. Drawing upon the resource-based view of the firm, we formulate a hypothesis suggesting that the influence of CC-related extreme events on product performance is mediated by the adaptation strategies employed by firms. Adaptation to CC can be a source of differentiation advantage to firms. In this context, firms strategically adapt to the physical environment to secure access to vital natural resources amidst extreme CC disturbances. Subsequently, these adaptive measures translate into enhanced firm value. To assess our hypotheses, we employ a sample comprising 50,156 wine-winery-year observations for 535 wineries, spanning the years 1981 to 2019, matched with wildfire events. Our results indicate that the adoption of CC adaptation strategies can be a source of value for firms, enabling them to produce products that can be sold at a price premium. We also suggest that firm CC adaptation strategies mediate the relationship between CC-related extreme events and product price.Type:conference paper