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The role of multinational corporations in global environmental politics.

1. Introduction

Companies are an integral component of the governance of international environmental matters. Corporate behavior in alliances is determined by struggle for legitimacy (Pera, 2013) in the socio-political sector and rivalry for capabilities in the marketplace. Companies may not employ their characteristic capabilities in a socially well-organized manner (Lazaroiu, 2015a, b, c; 2013) while involving in cross-industry alliances. The latter's success requires its governance function. Alliances are intended to supply nonexcludable shared advantages in relation to allowing the moderation of environmental impact. There is a separation between the success of alliances concerning non-excludable shared advantages (Nica and Potcovaru, 2015a, b) and companies' concern in striving for private benefits from taking part in such alliances. (Hahn and Pinkse, 2014)

2. The Environmental Undertakings of Global Economic Entities and Regimes

Society-nature links are factual material connections configured by social mechanisms of production and use and hegemonically characterized by social assessments. Society-nature links are an integral component of all other social connections. The link between the individual, society and nature is one with material and cultural features (Nica, 2015a, b, c), which is hegemonically established by social disagreements. Capitalist output at a material level is significantly conditional on nature and resorts to its particular aspects so as to generate persistent demand to be met via the advancement of products and technologies. (Brand and Wissen, 2013) Brand firms are progressively embracing corporate sustainability aiming to manage the long global chains and attain their business objectives (Popescu, Comanescu, and Sabie, 2016): they attempt to construe and incorporate environmental matters into their main operations (Popescu et al., 2016a), goods and supply chains, eventually associating sustainability with their brand. Corporate sustainability objectives comprise quantifiable targets, are audited by autonomous entities, and are incorporated into the main business via progressively standardized business instruments. Brand firms have attained some assessable additional developments in corporate sustainability (Popescu et al., 2016b) but remain mechanisms of expanded consumerism. Substantial and noticeable sustainability investments have assisted in improving green innovation and make profitable novel technologies in established markets. (Dauvergne and Lister, 2012)

3. The Success of Cross-industry Alliances for the Governance of International Environmental Matters

Competitive efforts are at the center of company conduct and approach in a market economy. Rivalry for legitimacy indicates that companies strive for satisfactory institutional circumstances in the sociopolitical sphere that show partiality towards their undertakings. Cross-industry alliances may function as an outstanding framework for companies to strive for legitimacy and attain satisfactory institutional circumstances (Popescu Ljungholm, 2016) concerning company behavior towards environmental matters. Rivalry for capabilities indicates that companies strive for a characteristic strategic attitude in the marketplace that generates a persistent competitive gain. (Hahn and Pinkse, 2014) The increasing acceptance of corporate environmental sustainability among brand companies indicates more effective leadership (Popescu and Predescu, 2016) and the rising conviction of corporate executives in the importance of sustainability. Brand companies adopt corporate sustainability schemes to enhance basic efficiencies, increase top line returns, access novel markets, and acquire competitive advantage. Greening endeavors have strengthened with recessionary constraints, excessive commodity prices, and the expanded demand to participate in markets (Popescu, 2016) controlled by competitive, high-volume retailers. Brand companies have adopted sustainability to cut down expenses and incorporated it as an essential business scheme to accomplish growth, identifying a chance to leverage sustainability to attain access to emerging markets. Entering the latter, where consumer returns are less relevant (Bondrea and Stefanescu-Mihaila, 2014a, b) but growth is swifter, compels firms to be lean and groundbreaking. (Dauvergne and Lister, 2012) (Figure 1)

[FIGURE 1 OMITTED]

4. Worldwide Economic Structural Tendencies that Have Deep Consequences for the Natural Environment

The handling of society-nature links is thoroughly associated with models of social replication (Mircica, 2014) that are macroeconomic, institutional and seriously encapsulated in subjects. Environmental crisis aspects can assist in the advancement of novel technologies by transferring the power relations (Mihaila, Popescu, and Nica, 2016) between capital fractions and establishing capacities for crisis management without surmounting the basic ecological inconsistency of capitalism. The handling of society-nature links has effect through entities, norms, values, mechanisms of subjectivation, and regularized practices that frequently advance novel schemes of capital valorization. (Brand and Wissen, 2013) Sustainability supplies an outstanding source of supply chain cutting edge. Brand companies have carried out environmental strategies throughout their supply chains to attain more intangible, indirect benefits (Nica and Molnar, 2016), and have turned sustainability into business value, incorporating supply chain sustainability schemes and programs (Popescu and Bitoiu, 2016) to diminish company risks, cut down expenses, establish product quality, and enhance business operation. Via their undertakings and established gains, brand companies have essentially modified the power dynamics concerning who makes the rules in international production and environmental governance. (Dauvergne and Lister, 2012) (Figures 2 and 3)

[FIGURE 2 OMITTED]

[FIGURE 3 OMITTED]

5. Conclusions

Under particular circumstances the competitive drive of companies (Mihaila, 2016) significantly confines the strength and appropriateness of crossindustry alliances (Popescu, 2015a, b, c, d, e) as a private governance process ([section]tefanescu-Mihaila, 2015) for worldwide environmental matters. Well-organized and unquestioning information exchange among entities (Ionescu, 2016) is instrumental in the alliances' success. Influential members' attitude on environmental matters will curb the impact of rivalry for legitimacy (Nica, Manole, and Briscariu, 2016) on the success of information sharing. The latter will be more practical when alliances concentrate on particular issues and solutions. (Hahn and Pinkse, 2014)

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GHEORGHE H. POPESCU

popescu_ucdc@yahoo.com

Center for Applied Macroeconomic Analysis

at AAER, New York;

Dimitrie Cantemir Christian University, Bucharest

DRAGOS HURU

dragos.huru@gmail.com

Bucharest University of Economic Studies

Received 8 February 2016 * Received in revised form 14 April 2016

Accepted 15 April 2015 * Available online 13 May 2016
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Author:Popescu, Gheorghe H.; Huru, Dragos
Publication:Economics, Management, and Financial Markets
Article Type:Report
Geographic Code:1USA
Date:Sep 1, 2016
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