000109390 001__ 109390 000109390 005__ 20230519145446.0 000109390 0247_ $$2doi$$a10.1007/s11846-021-00475-8 000109390 0248_ $$2sideral$$a125187 000109390 037__ $$aART-2021-125187 000109390 041__ $$aeng 000109390 100__ $$0(orcid)0000-0003-4045-5918$$aGarcés-Ayerbe, Concepción$$uUniversidad de Zaragoza 000109390 245__ $$aDoes it pay more to be green in family firms than in non-family firms? 000109390 260__ $$c2021 000109390 5060_ $$aAccess copy available to the general public$$fUnrestricted 000109390 5203_ $$aThe contradictory empirical evidence about whether the effect of companies' environmental investments on financial results is positive, negative or not significant has been explained by the different conditions and contexts that facilitate or hinder the ability to generate a win–win situation. This explanation has gradually led the academic debate to consider the factors and conditions that moderate such a relationship. In this document, we analyse the relevant but scarcely studied moderating effect of the condition of being a family firm, by integrating the socioemotional wealth (SEW) perspective into the natural-resource-based view (NRBV). Based on the analysis of panel data from 2936 Spanish manufacturing firms, covering the period 2009–2016, we offer empirical evidence showing that the financial benefits derived from environmental investment are positive and significant in family firms, while this is not so in non-family firms. Furthermore, our results show that intrinsic characteristics such as the sector, size or age of the company also condition the financial results of environmental investments. 000109390 540__ $$9info:eu-repo/semantics/openAccess$$aby$$uhttp://creativecommons.org/licenses/by/3.0/es/ 000109390 590__ $$a5.435$$b2021 000109390 592__ $$a1.435$$b2021 000109390 594__ $$a8.0$$b2021 000109390 591__ $$aMANAGEMENT$$b93 / 228 = 0.408$$c2021$$dQ2$$eT2 000109390 593__ $$aBusiness, Management and Accounting (miscellaneous)$$c2021$$dQ1 000109390 655_4 $$ainfo:eu-repo/semantics/article$$vinfo:eu-repo/semantics/publishedVersion 000109390 700__ $$0(orcid)0000-0001-9319-5895$$aRivera-Torres, Pilar$$uUniversidad de Zaragoza 000109390 700__ $$0(orcid)0000-0002-6865-9915$$aMurillo-Luna, Josefina L.$$uUniversidad de Zaragoza 000109390 700__ $$aSuárez-Gálvez, Cristina 000109390 7102_ $$14012$$2650$$aUniversidad de Zaragoza$$bDpto. Direcc.Organiza.Empresas$$cÁrea Organización de Empresas 000109390 7102_ $$14011$$2095$$aUniversidad de Zaragoza$$bDpto. Direc.Mark.Inves.Mercad.$$cÁrea Comerci.Investig.Mercados 000109390 773__ $$g16 (2021), 1365–1386$$pREVIEW OF MANAGERIAL SCIENCE$$tREVIEW OF MANAGERIAL SCIENCE$$x1863-6683 000109390 8564_ $$s679569$$uhttps://zaguan.unizar.es/record/109390/files/texto_completo.pdf$$yVersión publicada 000109390 8564_ $$s1203831$$uhttps://zaguan.unizar.es/record/109390/files/texto_completo.jpg?subformat=icon$$xicon$$yVersión publicada 000109390 909CO $$ooai:zaguan.unizar.es:109390$$particulos$$pdriver 000109390 951__ $$a2023-05-18-14:38:31 000109390 980__ $$aARTICLE