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How does a corporation’s dependence on its shareholders affect the sustainability of its commitment to environmental performance? Although the literature has investigated how the financial markets respond to environmental and green initiatives, it has yet to examine the relationship between a firm’s commitment to the environment and its dependence on the equity markets. In this research, we explore the relationship between equity dependence and environmental performance and find equity dependence is significantly related to corporations’ environmental concerns but not their environmental strengths.

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This is an author-produced, peer-reviewed version of this article. The final, definitive version of this document can be found online at Journal of Leadership, Accountability & Ethics, published by North American Business Press, Inc. Copyright restrictions may apply.

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