What Shapes Companies Corporate Sustainability? Belgian Pharma Businesses Views On Global Sustainable Development

Abstract

Globalisation and sustainable development are nowadays the buzzwords in socio-economic discussions. However, research on corporate sustainability in an international business context has only recently got off the ground and is still underdeveloped. In this paper, we examine the determinants of Belgium-based pharmaceutical companies views on sustainable development. Particular emphasis is on long run environmental and social sustainability issues. Observations on pharma companies views are gathered through a survey of the industry. We empirically test companies positions using principal components and ordinary least squares. We find that firms positions on sustainable development are determined by internal and external company-specific characteristics. Results also show that government regulation is a significant driver of companies awareness of sustainability issues.