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BUSINESS MODELS AND FIRM PERFORMANCE
Following the European Commission’s recent adoption of the CSR Directive for corporate reporting and the European Sustainability Reporting Standards, in which the disclosure of business model information is crucial, our research studies the potential links between business models, CSR reporting and Corporate Governance mechanisms. In particular, it focuses on elements of strategic control and board leadership characteristics. Prior literature indicates that the ability to align strategic controls with the business model being applied (Montemari et al., 2019) and having a strategically oriented board leadership profile increases the probability of having a well-executed business model and hence also, higher firm performance (Nielsen et al., 2020). Our data confirms that business models are a mediating factor between corporate governance choices and firm performance, meaning that the choice of business model is a key variable for assessing sustainability impacts and risks.
