Alberto Aragon Correa

Professor J. Alberto Aragon-Correa



J. Alberto Aragon-Correa is Honorary Professor of Management and Research Director of the Centre for Environmental Entrepreneurship at the Surrey Business School.  He also collaborates with the Surrey Centre for the Digital Economy. Alberto teaches, does research, and serves as an executive instructor and consultant in the areas of international strategy and environmental management and firms' innovations. Currently, he is also a full Professor of Strategy at University of Granada (Spain)

Alberto is author or co-author of more than 50 refereed articles published in multiple high impact business outlets, including Academy of Management Review, Academy of Management Journal, Academy of Management Perspectives, Academy of Management Learning & Education, California Management Review, Journal of Business Research, Long Range Planning, Journal of Environmental Management, Organization & Environment, Business & Society, and Industrial Marketing Management, among others.

Alberto's publications have received more than 6,000 citations from different academic international publications, and two of them have been selected as “seminal works” in different reviews of the business and environment literature. He has been finalist for the Carolyn Dexter Award twice. Finally, he has been invited to give keynote speeches and seminars in USA, Canada, Russia, Argentina, The Netherlands, Switzerland, Mexico, Ecuador, Denmark, Spain, Poland, Italy, Chile, and others.

Professor Aragon-Correa serves as the Consulting Editor in Chief of Organization & Environment, a leading journal in the field of management and sustainability, and serves or has served as an Editorial Board member for Academy of Management Learning and Education, Journal of Management Studies, International Journal of Contemporary Hospitality Management, Management Research. Additionally, Alberto has been PDW Chair, Program Chair, and Chair in the Academy of Management's Organizations and the Natural Environment Division (ONE/AOM).

Alberto has been a visiting professor in different international leading universities, such as the University of California Los Angeles (UCLA), the ETH-Zurich, and the University of California Berkeley.

Research interests


  • Organizations and Environment
  • Business Strategy
  • Firms and Innovations
  • International Firms and Strategy

Theories and Organizational Paradigms

  • Resource-Based View / Dynamic capabilities / Contingent Theory


  • Tourism industry / Online industries / TIC / Energy


J. Alberto Aragon-Correa is Honorary Professor of Management at the Surrey Business School. Alberto teaches, does research, and serves as an executive instructor in the areas of international strategy, firms' innovations, and environmental management.

Departmental duties

  • Member of the International Business and Sustainable Systems Group.


Alberto is Consulting Editor of Organization & Environment, the leading journal devoted to the relationship between business and sustainability.

He has been the Chair of the Academy of Management's Organizations and the Natural Environment Division (AOM/ONE), the biggest academic organization in the field of management, and one of the founding members and the President of the Group of Research on Organizations and the Natural Environment (GRONEN), one of the biggest independent academic organizations in the field of environmental management. He is also a member of the Strategic Management Society (SMS).

Social Media

Google Scholar (My Publications, Citations, and Academic Impact)


Aragon-Correa J, Matías-Reche F, Senise-Barrio ME (2004) Managerial Discretion and Corporate Commitment to the Natural Environment, Journal of Business Research57(9)pp. 964-975 Elsevier Science
Aguilera-Caracuel J, Hurtado-Torres NE, Aragon-Correa J (2012) Does International Experience Help Firms to be Green? A Knowledge-Based View of How International Experience and Organisational Learning Influence Proactive Environmental Strategies, International Business Review21(5)pp. 847-861 Elsevier Science
Aragon-Correa J, Martin-Tapia I, de la Torre-Ruiz J (2015) Sustainability issues and hospitality and tourism firms? strategies: Analytical review and future directions, International Journal of Contemporary Hospitality Management27(3)pp. 498-522
Etzion D, Aragon-Correa J (2016) Big data, management, and sustainability: Strategic opportunities ahead,Organization and Environment: international journal of ecosocial research29(2)pp. 147-155 Sage
We contend that big data and management for sustainability are very good bedfellows, in that many of the affordances big data provides are naturally aligned with sustainability concerns (e.g. multidimensional nature, collective actions, smart allocation of resources). Notwithstanding this promising stepping off point, and the enticing analytical opportunities that an abundance of data will generate, we provide some reflections on big data and the most promising avenues of research it might inspire in the field of management and sustainability. In the first part of our essay we explore what managers can do with big data to reinforce organizational sustainability and how different operational, strategic, and corporate activities are affected in this process. In the second part we focus on what big data allows researchers to explore and examine, ranging from sustainability job descriptions through environmental metrics to industry transformation. We conclude by advocating for strong theoretical orientation in research on and with big data.
Aragon-Correa J, Hurtado-Torres NE, Sharma S, García-Morales VJ (2008) Environmental Strategy and Performance in Small Firms: A Resource-Based Perspective, Journal of Environmental Management86(1)pp. 88-103 Elsevier Science
Sharma S, Correa JAA (2005) Corporate Environmental Strategy And Competitive Advantage, Edward Elgar Publishing
"The first book to gather cutting-edge research on this complex relationship, Corporate Environmental Strategy and Competitive Advantage presents conceptual ideas and empirical findings, as well as a valuable review of extant literature and ...
Martín-Rodríguez M, Aragon-Correa J, Melchor-Ferrer E, Rodríguez-Ferrero N, Sáez-Fernández FJ (2002) Evaluation of Irrigation Projects and Water Resource Management: A Methodological Proposal, Sustainable Development10(2)pp. 90-102 John Wiley and Sons
Aragon-Correa J, Llorens-Montes FJ (1997) Ecological Concern and Environmental Behavious Towards Sustainable Development: A Model Applied to Potential Change in the Recycling Systems, Sustainable Development5(1)pp. 43-49 John Wiley and Sons
Bermúdez-Edo M, Hurtado-Torres NE, Aragon-Correa J (2010) The Importance of Trusting Beliefs Linked to the Corporate Website for Diffusion of Recruiting-Related Online Innovations, Information Technology and Management11(4)pp. 177-189 Springer
Bueno-Campos E, Aragon-Correa J, García-Morales VJ, Salmador-Sánchez MP (2010) Tangible Slack Versus Intangible Resources. The Influence of Technology Slack and Tacit Knowledge in the Capability of Organizational Learning to Generate Innovation and Performance, International Journal of Technology Management49(4)pp. 314-337 Inderscience Publishers
Martín-Rodríguez M, Sáez-Fernández FJ, Aragón-Correa JA (2000) Valoración del Impacto Socioeconomico de la Puesta en Regadío de la Cuenca del Guadalquivir (Irrigation Projects and Evaluation of their Socioeconomic Impacts in the River Guadalquivir), Civitas
de Mandojana NO, Aragon-Correa J (2013) Boards and Sustainability: the Contingent Influence of Director Interlocks on Corporate Environmental Performance, Business Strategy and the Environment24(6)pp. 499-517 Wiley
This paper highlights the importance of a firm?s board with respect to sustainability issues by analysing the relationship between director interlocks, i.e. directors who simultaneously belong to the boards of directors of several companies, and a firm?s environmental performance. The previous literature has focused on the influence of firm-level resources on corporate environmental performance. This study utilizes insights from a resourcebased view and research on social capital to demonstrate that the environmental performance of a firm is also influenced by the difficult-to-imitate capabilities that are embedded in the network relationships of its directors. Our results support a contingency perspective of the social capital theory that finds that director interlocks are positively connected with the environmental performance of a firm in two specific situations: (1) when the firm is linked to a larger parent company and (2) in cases of low and high levels of interlock diversity.
Ortiz-de-Mandojana N, Aragon-Correa J, Delgado-Ceballos J, Ferrón-Vílchez V (2012) The Effect of Director Interlocks on Firms' Adoption of Proactive Environmental Strategies, Corporate Governance: An International Review20(2)pp. 164-178 John Wiley and Sons
Aragon-Correa J, De la Torre-Ruiz JM (2012) Performance of Newcomers in Highly Interdependent Teams, European Sport Management Quarterly12(3)pp. 205-226 Taylor and Francis Group
Aguilera-Caracuel J, Hurtado-Torres NE, Aragon-Correa J, Rugman AM (2013) Differentiated Effects of Formal and Informal Institutional Distance Between Countries on the Environmental Performance of Multinational Enterprises, Journal of Business Research
Sharma S, Aragon-Correa J (2005) Corporate Environmental Strategy and Competitive Advantage: A Review From the Past to the Future, In: Sharma S, Correa JAA (eds.), Corporate Environmental Strategy And Competitive Advantagepp. 1-26 Edward Elgar Publishing
"The first book to gather cutting-edge research on this complex relationship, Corporate Environmental Strategy and Competitive Advantage presents conceptual ideas and empirical findings, as well as a valuable review of extant literature and ...
Delgado-Ceballos J, Aragon-Correa J, Ortiz-de-Mandojana N, Rueda-Manzanares A (2012) The Effect of Internal Barriers on the Connection Between Stakeholder Integration and Proactive Environmental Strategies, Journal of Business Ethics107(3)pp. 281-293 Springer
Marcus A, Aragon-Correa J, Pinkse J (2011) Firms, Regulatory Uncertainty, and the Natural Environment, California Management Review54(1)pp. 5-16 University of California Press
Rueda-Manzanares A, Aragon-Correa J, Sharma S (2008) The Influence of Stakeholders on the Environmental Strategy of Service Firms: The Moderating Effects of Complexity, Uncertainty and Munificence, British Journal of Management19(2)pp. 185-203 John Wiley and Sons
Aragon-Correa J, Cordón-Pozo E (2005) The Influence of Strategic Dimensions and the Environment on the Introduction of Internet as Innovation into Small and Medium-Sized Enterprises, Technology Analysis and Strategic Management17(2)pp. 205-218 Taylor and Francis Group
Aragon-Correa J, Senise-Barrios ME, Martín-Tapia I, Matías-Reche F, Molina-Fernández LM, Rubio-López E (2006) Evalución Externa del Proyecto ACERCA III: Delimitación y análisis de los principalles "Outputs", resultados e impactos (External Evaluation of the ACERCA Project), Diputación de Granada
Delgado-Márquez BL, Aragón-Correa JA, Hurtado-Torres NE, Aguilera-Caracuel J, Aragon-Correa J (2015) Does knowledge explain trust behaviors and outcomes? The different influences of initial knowledge and experiential knowledge on personal trust interactions., The International Journal of Human Resource Management26(11)pp. 1498-1513
Aragon-Correa J (1998) Strategic Proactivity and Firm Approach to the Natural Environment, Academy of Management Journal41(5)pp. 556-567 Academy of Management
Aragon-Correa J, García-Morales, VJ, Cordón-Pozo E (2007) Leadership and organizational Learning's Role on innovation and Performance: Lessons From Spain, Industrial Marketing Management36(3)pp. 349-359 Elsevier Science
Martín-Tapia I, Aragon-Correa J, Senise-Barrio ME (2008) Being Green and Export Intensity of SMEs: The Moderating Influence of Perceived Uncertainty, Ecological Economics68(1-2)pp. 56-67 Elsevier Science
Martin-Tapia I, Aragon-Correa J, Llamas-Sanchez R (2008) The Relationship Between High Performance Work Systems and Proactive Environmental Management, In: Wüstenhagen R (eds.), Sustainable Innovation and Entrepreneurshippp. 197-224 Edward Elgar Publishing
The first five chapters discuss various aspects of sustainable entrepreneurship. This is followed by two chapters that look at innovation within existing firms.
Correa JAA (1998) Empresa y medio ambiente: Gestión Estratégica de las Oportunidades Medioambientales (Natural Environment and Firms: Strategic Management of Environmental Opportunities), Comares
Previous academic and popular literature has raised important debates concerning the contradictory incentives for international firms to reduce their environmental impacts and offer transparent environmental information about their operations. As an exhaustive review of this literature revealed mixed and partial evidence, we compared the individual corporate environmental performance and disclosure of the 100 most international nonfinancial firms in the world to those of 16,023 firms in their industries and a group of selected firms similar to those in the group of the 100 most international in our sample. Our results show that although the top international firms have a much better record of environmental disclosure than the firms within their industries and the matched pairs, the top international firms actually show worse environmental performance than their peers. The results suggest that the top international firms seek legitimation for their environmental activities by means of voluntary disclosure.
Cordón-Pozo E, Aragon-Correa J, García-Morales VJ (2006) Interdepartmental Collaboration and New product Development Success: A Study on the collaboration Between Marketing and R&D in Spanish High-Technology Firms, International Journal of Technology Management34(14)pp. 52-79 Inderscience Publishers
Aragon-Correa J, Martín-Tapia I, Hurtado-Torres N (2013) Proactive Environmental Strategies and Employee Inclusion: The Positive Effects of Information Sharing and Promoting Collaboration and the Influence of Uncertainty, Organization & Environment26(2)pp. 139-161 Sage Publications
Aragon-Correa J, Sharma S (2003) A Contingent Resource-Based View of Proactive Corporate Environmental Strategy, Academy of Management Review28(1)pp. 71-88 Academy of Management
Martín-Tapia I, Aragon-Correa J (2010) Environmental Strategy and Exports in Medium, Small and Micro-Enterprises, Journal of World Business45(3)pp. 266-275 Elsevier Science
Aguilera-Caracuel J, Aragon-Correa J, Hurtado-Torres NE, Rugman AM (2012) The Effects of Institutional Distance and Headquarters' Financial Performance on the Generation of Environmental Standards in Multinational Companies, African Journal of Business Ethics105(4)pp. 461-474 Springer
Aragon-Correa J, Rubio-López E (2007) Proactive Corporate Environmental Strategies: Myths and Misunderstands, Long Range Planning4(3)pp. 357-381 Elsevier Science
Delgado-Márquez BL, Hurtado-Torres N, Aragon-Correa J (2013) On the measurement of Interpersonal Trust Transfer: Proposal of Indexes, Social Indicators Research113(1)pp. 433-449 Springer
Aragon-Correa J, Matías-Reche F (2005) Small Firms and Natural Environment: A Resource-Based View of the Importance, Antecedents, Implications, and Future Challenges of the Relationship, In: Sharma S, Correa JAA (eds.), Corporate Environmental Strategy And Competitive Advantagepp. 96-114 Edward Elgar Publishing
"The first book to gather cutting-edge research on this complex relationship, Corporate Environmental Strategy and Competitive Advantage presents conceptual ideas and empirical findings, as well as a valuable review of extant literature and ...
Ferron-Vilchez V, Aragon-Correa J (2012) A European Approach of the Environmental Costs: A Case Study in the Spanish Road Freight Transport Industry, In: Madu CN, Kuei C-H (eds.), Handbook of Sustainability Managementpp. 625-640 World Scientific
This handbook explores the role of sustainability in achieving social development, environmental protection, and economic development. These three areas constitute what is referred to as the triple bottom line (TBL).
Delgado-Marquez B, Aragon-Correa J, Cordón-Pozo E (2013) The Profitability of Environmental Proactivity in Business Education Institutions: An Investigation of University Administrators, Journal of Environmental Science and Management16(1)
Over the last decades, the implementation of an environmentally-proactive behavior has taken on a new priority as part of the environmental planning strategies at higher education institutions. Nonetheless, this trend has exerted a heterogeneous impact on business education centres. Moreover, prior studies have found that administrators? efforts play a crucial role to foster a school climate supportive of environmental proactivity. This paper contributes to investigate how and why universities, i.e., organizations not guided primarily by financial profits, decide to undertake an environmentally-proactive behavior. Specifically, we analyse deans? perceptions in relation to the economic advantages that may be derived out of different levels of environmental proactivity of the centres. To that aim, we draw on a sample of 74 deans. Contrary to our original expectations, results reveal that there are no significant differences in deans? perceptions of the economic advantages from their centres? environmental proactivity.
Sharma S, Aragon-Correa J, Rueda-Manzanares A (2007) The Contingent Influence of Organizational Capabilities on Proactive Environmental Strategy in the Service Sector: An Analysis of north American and European Ski Resorts, Canadian Journal of Administrative Sciences24(4)pp. 268-283
Correa JAA, Barrio MES (2001) Polígonos Empresariales y sus Repercusiones: Análisis de las Características e Impactos de los Polígonos Industriales en la Provinca de Granada (Industrial Parks and Implications), Fundación Caja de Granada/Confederación Granadina de Empresarios
Delgado-Márquez BL, Hurtado-Torres NE, Aragon-Correa J (2012) The Dynamic Nature of Trust Transfer: Measurement and the Influence of Reciprocity, Decision Support Systems54(1)pp. 226-234 Elsevier Science
Sharma S, Aragon-Correa J (2004) Corporate Environmental Strategy and Competitive Advantage,Competition and Change8(4)pp. 339-356 Taylor and Francis Group
Correa JAA, Barrio MES, Reche FM (2006) Evaluación de la colaboración entre socios (parteneriado)del proyecto Acerca III, Deputacíon de Granada
Martín-Tapia I, Aragon-Correa J, Guthrie J (2009) High Performance Work Systems and Export Performance, International Journal of Human Resource Management20(3)pp. 633-653 Taylor and Francis Group
Gomez-Haro S, Aragon-Correa J, Cordón-Pozo E (2011) Differentiating the Effects of the Institutional Environment on Corporate Entrepreneurship,Management Decision49(10)pp. 1677-1693 Emerald Group Publishing Limited

The main purpose of this paper is to contribute to a better understanding of how different dimensions of the institutional environment of a region may influence the level of corporate entrepreneurship of firms.


The paper develops the relationship between the institutional environment, differentiated in regulatory, cognitive and normative dimensions, and entrepreneurship in existing firms, corporate entrepreneurship, via a questionnaire study covering 150 firms in Spain.


The relation between institutional environment and corporate entrepreneurship can be distinct. The results show that both the normative and cognitive dimension of the institutional environment influence an organisation's entrepreneurial orientation. They also show that regulatory dimension influences what type of corporate entrepreneurial activity is carried out.


Literature about institutional theory and entrepreneurship has been both descriptive and fragmented. This paper complements the increasing interest in the analysis of the influence of institutional frameworks on corporate entrepreneurship and answers recent calls in the literature to complete previous analyses in an empirical way that supports previous works.

Aragon-Correa J, Marcus A, Rivera J, Kenworthy A (2017) Sustainability Management Teaching Resources and the Challenge of Balancing Planet, People, and Profits,Academy of Management Learning & Education16(3)pp. 469-483 Academy of Management
Over the past decade, there has been a notable increase in discussions surrounding the integration of global sustainability issues and responsible management practices into the business school curriculum. What we have yet to see, however, and what we would like to begin with this introduction, is a meaningful discussion regarding the overarching goals of sustainable and responsible management education as they relate to the available teaching and learning resources in this domain. To achieve this, we first identify the tensions between teaching sustainability to change the world for the better and those aimed at making companies better off. We propose that there should be a balance between these two aspirations. We then turn to the thoughts of academic practitioners in the field with a survey of 169 management and sustainability instructors. Results indicate that respondents use papers, cases, and videos to teach courses in this field, while textbooks and electronic resources (i.e. databases, simulations, and apps) are only marginally utilized. The respondents are only moderately satisfied with most of the available teaching resources as well as the integration of existing resources within general curricula. The results show some interesting differences between postgraduate and undergraduate courses and also between junior and senior instructors. In this introduction, we argue that the moral enthusiasm for teaching in the sustainability domain must not take away from precise analysis of problems, solutions, their implementability, and their interconnected complexity. As such, we propose a set of five recommendations for the design and selection of sustainability management teaching resources that will effectively address issues related to planet, people, and profits.
De la Torre Ruiz J, Aragon-Correa J (2013) Interdependence Between Best Team Members and Their Team Mates,International Journal of Manpower34(5)pp. 552-567 Emerald Group Publishing Limited

The purpose of this paper is to examine how, within a team, the value of their best member depends critically on the performance of the rest. Analysis of the interdependent team members complements the traditional focus of resource?based?view analyses of isolated resources.


The authors used data from 584 National Basketball Association teams (30 teams collected over 21 seasons).


The authors find a positive relationship between best member performance and team performance that increases as the rest of the team members? performance improves.

Practical implications

Having team members with a high individual performance does not imply that the team will have a competitive advantage over the rest. To gain this advantage, it is also necessary that the rest of the team members also show a high individual performance.


These results contribute to the team literature increasing our knowledge about the effect of complementary resources on gaining competitive advantage. Additionally, sports teams offer the possibility of using objective data to assess team members? individual value within a team.

Aguilera-Caracuel J, Aragon-Correa J, Hurtado-Torres N (2011) Extending the Literature on the Environmental Strategy of MNEs,Multinational Business Review19(4)pp. 299-310 Emerald Group Publishing Limited

The purpose of this paper is to explain the different international environmental strategies that multinational enterprises (MNEs) can adopt.


This study updates the traditional country?specific advantages/firm?specific advantages (FSA/CSA) framework. In order to do so, the concepts of environmental institutional distance between countries and MNEs' availability of slack resources are used.


First, a low environmental institutional distance between headquarters' and subsidiaries' countries contributes to creating environmental standards within the company. Second, MNEs with high availability of slack resources are willing to standardize their environmental practices. However, those MNEs that have a high availability of slack resources but have units based in high?distance countries prefer to generate valuable and advanced environmental management practices only in specific countries. Finally, those MNEs with a low level of slack resources and with units based in low?distance countries only comply with national environmental institutional requirements, becoming isomorphic with other local firms.

Research limitations/implications

Although previous findings suggest that MNEs are increasingly standardizing their environmental practices, this generalization can be applied to those MNEs with units based in low?distance countries that have a high availability of slack resources, which lead them to create valuable non?location?bound, green, firm?specific advantages (FSAs).


This paper sheds light on the way in which MNEs' activities affect the natural environment. Since MNEs are key actors in terms of economic and environmental development, they can promote social and environmental values in society, and at the same time encourage other organizations and institutions to adopt a socially responsible attitude.

Delgado-Marquez B, Aragon-Correa J, Hurtado-Torres N (2011) Fostering Integrity in Business Education: An Analysis of Academic Administrators' Perceptions at Spanish Business Schools,In: Wankel C, Stachowicz-Stanusch A (eds.), Management Education for Integrity: ethically Educationg Tomorrow's Business Leaderspp. 59-76 Emerald Group Publishing
This topical book forms an important part of the debate on the development of ethical business leaders and provides empirically grounded, theoretical insights for rethinking business curricula requisite for understanding and meaningfully ...
De la Torre-Ruiz J, Aragon-Correa J, Ferrón-Vílchez V (2011) Job-related Skill Heterogeneity and Action Team Performance,Management Decision49(7)pp. 1061-1079 Emerald Group Publishing Limited

The purpose of this paper is to focus on job?related skill heterogeneity and action team performance by considering that team members may differ in the levels of their job?related skill, as well as in the way their job?related skill is spread over the different dimensions of the task.


Data were used from 30 National Basketball Association (NBA) teams collected over 21 seasons (1986/1987 through 2006/2007). The total number of team?seasons analyzed was 584.


A positive relationship was found between job?skill level heterogeneity and action team performance that declines as average job?skill level in the team grows. Furthermore, action teams showed poorer performance when their members with a low job?related skill level have a high specialization.

Practical implications

From the practical perspective, it is of special interest to an action team manager to know that job?related skill heterogeneity has a positive influence on team performance ? mainly when the average job?related skill level in the team is low ? and that highly specialized members may have a negative influence on action team performance.


The results contribute to the team literature by focusing on action teams. This kind of team has not received attention despite their increasing importance within organizations. Additionally, using sports teams as a sample offers the possibility of gathering a large amount of objective job?related skill data as well as the possibility of testing hypotheses in a relatively controlled environment, but with real actions instead of experimental actions.

Hurtado-Torres Nuria E., Aragon-Correa Juan Alberto, Ortiz-de-Mandojana Natalia (2017) How does R&D internationalization in multinational firms affect their innovative performance? The moderating role of international collaboration in the energy industry,International Business Review27(3)pp. 514-527 Elsevier
This paper examines the effects of the degree and geographic diversification of a firm?s R&D internationalization on its innovative performance. We use an unbalanced panel dataset of 401 observations from 110 multinational firms operating in the energy industry over a period of six years to support the argument that both the degree and the geographic diversification of a firm?s R&D internationalization have an inverted U-shaped relationship with a firm?s innovative performance. Our results also show that collaboration among R&D units located in different countries moderates this relationship by reducing both the positive effects and the challenges of the degree of R&D internationalization. This paper extends the emerging innovation focus in the headquarters?subsidiary literature by contributing to our understanding of the implications of the international R&D activities of firms and supports the utilization of social exchange theory in order to identify the moderating influence of the collaboration among a firm?s R&D units located in different countries.
Ortiz-de-Mandojana Natalia, Bansal Pratima, Aragon-Correa Juan Alberto (2018) Older and Wiser: How CEO?s Time Perspective Influences Long-Term Investments in Environmentally Responsible Technologies,British Journal of Management30(1)pp. 134-150 Wiley
Most theories of corporate governance argue that Chief Executive Officers (CEOs) take less risk as they near the end of their career, and therefore are less likely to make major investments. This prediction is based on decisions related to firm-specific benefits; however, it may not be generalizable to decisions that involve broad societal goals. In terms of societal investments, CEOs with a longer time perspective may be more likely, rather than less likely, to invest. In this paper, we argue that a CEO?s future time perspective is fostered by shorter career horizons, longer tenures, higher organizational ownership, and less short-term compensation. We test these hypotheses on 150 observations from the U.S. investor-owned electric power generation sector over a three-year unbalanced sample (64.3% of the population). We applied random-effects generalized least squares (GLS) estimations to test our hypotheses, and found support for three out of four hypothesized relationships.