Purpose: Institutional theory is a reasonable explanation for the motives of corporate social responsibility (CSR) behaviours (e.g. corporate green innovation). The existing literature defines institutional pressure as threats for legitimacy when firms operate within a country or a region; one...

The present paper provides theoretical insights regarding the determinants of firms' incentives to invest in a Circular Economy. The analysis relies on a Cournot model disaggregating the disposal cost in the production function. In a non-simultaneous sequential game, two risk-neutral firms are...