Abstract
This research aims to explore motivation for listed companies to engage in businesses with varying potential for environmental sensitivity and the types of measures they take towards managing environmental concerns in Sri Lanka. This study applies a mixed method research (MMR) approach, focusing on its one paradigm: QUAL + quan. Using a multi-stage purposeful sampling method, 34 companies were selected from 4 industry sectors. Data were collected mainly through in-depth interviews and discussion with environmental officers of companies and government authorities (Central Environment Authority [CEA] and Sri Lanka Standard Institution [SLSI]) together with a questionnaire survey. Thematic analysis and content analysis were used for qualitative data and frequency tables for quantitative data.
Findings reveal that all responding companies typically take measures for environmental protection to comply with environmental legislation, the National Environmental Act, and with SLS ISO Environmental Management Systems standards. Compared to planning and pre-implementation stages of a business, the mainstream environmental management (EM) measures relate to the implementation stage. Listed companies strongly believe that these efforts also influence a positive company image and firm survival. Differences are identified between companies/sectors showing a greater potential for EM measures in environmentally highly sensitive sectors/businesses, i.e. Chemical and pharmaceuticals sector, poultry. This suggests that businesses must improve awareness among all personnel on legal compliance and standards observance.
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01 September 2021
Owing to an oversight, in the affiliation of the author G. Wickremasinghe M. Naidoo, “Victoria University” is missing after “Victoria University Business School”. The corrected affiliation should read as below:
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Withanawasam, I.M., Wickremasinghe, G., Naidoo, M. (2021). Exploring Motivation for Listed Companies and Measures Taken Towards Managing Environmental Collision: Evidence from Sri Lanka. In: Dhiman, S., Samaratunge, R. (eds) New Horizons in Management, Leadership and Sustainability. Future of Business and Finance. Springer, Cham. https://doi.org/10.1007/978-3-030-62171-1_10
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