Based on the data of A-share listed companies in Shanghai and Shenzhen of China from 2011 to 2018 and the digital inclusive finance index of Peking University (2011-2018), this paper empirically tests the impact of digital finance development on corporate social responsibility in various provinces of China and its impact mechanism. The results show that: (1) the development of digital finance helps to promote the fulfillment of corporate social responsibility; (2) the influence mechanism of the development of digital finance to promote the fulfillment of corporate social responsibility lies in that it reduces the cost of debt financing and leads to the improvement of corporate social responsibility.(3) Further research shows that the positive relationship between digital finance and corporate social responsibility is more significant in private enterprises. At the same time, the impact is more significant in areas with poor market environment. The above research shows that the development of digital finance has a significant positive effect, which will improve the level of corporate social responsibility.

The study examines the relationship between corporate social responsibility (CSR) and the corporate life cycle (CLC) of the Chinese pharmaceutical listed companies for the duration of 2010 to 2018. The firm cash flow pattern is used as a proxy for the CLC. The study results indicate that the relationship between CSR and CLC is positive and linear in all the phases of the CLC including, the introduction, growth and maturity stage. Although the relationship is smaller and more significant at the maturity phase. The research further shows that investors incorporating social responsibilities values play a key role in the firm cash flow performance (CFP) across all the firm stages. Whilst, employees espousing social responsibility tenets can only improve CFP in the decline or shakeout stages. Likewise, embedding CSR into the customers group only improves CFP at the maturity stage. Applying the lag effects lead to the same study results. The finding for the bi-directional causality indicates that although CSR can positively influence CFP, CFP is ultimately more associated with the firm unobservable characteristics rather than performance attributed to CSR. On the whole, our study results point to positive causality between CSR and CFP across all the firm life stages and the CSR has a mediating effect on each life cycle.

Cooperative organizations try to balance economic viability and Corporate Social Responsibility (CSR) management through strategic policies that involve dialogue, participation and engagement with stakeholders. To measure the impact of CSR management, the electricity sector implements monitoring processes and models, such as the Sustainability Reporting Standards of the Global Reporting Initiative (GRI), which measure contributions to the Sustainable Development Goals (SDGs) of the United Nations 2030 Agenda. This research analyses the strategic management of CSR in the 28 electric cooperatives that market electricity in Spain with the aim of determining their level of commitment to CSR and stakeholder participation in their corporate policies. The analysis is based on the descriptive-exploratory study of the whole population of electric cooperatives. The results indicate that the CSR management of most electric cooperatives is still in an emerging stage within the Value Curve. Importantly, there is a significant percentage of cooperatives that have already advanced towards the consolidating and institutionalized stages. However, most of these social-economy organizations are not developing programs that link their CSR strategies with their priority SDGs and sustainability as commitment to their community.

An increasing number of studies have proposed that corporate social responsibility (CSR) performance depends on how companies apply their resources and capabilities to implement CSR. A firm’s ability to integrate, build, and reconfigure internal and external competencies to respond to environmental changes is its dynamic capability. Implementation of CSR at the strategic level will contribute to a firm’s sustainability. However, the research on strategic CSR is incipient. This study explores possible mechanisms to investigate how dynamic capability influences the performance of strategic CSR in China. By analyzing 134 Chinese listed companies in the period 2017–2019, in this study, we found that firms with a high level of dynamic capability were less likely to adopt strategic CSR practices, and had a low strategic CSR adoption performance. The results confirmed the loss aversion channel, indicating that firms with a high dynamic capability level were loss averse and that managers had a decreasing sensibility in decision-making and allocated fewer company resources in CSR projects. These results can help companies to better understand the dynamic capability and how dynamic capability contributes to the adoption of strategic CSR and performance over time. The policy implications of the study are also discussed.

Social Economy institutions seek to provide answers to social problems, given that they naturally have a socially responsible mission. This study aims to answer the research question: how sustainable practices, namely environmental behaviour, have been adopted by Portuguese Private Social Solidarity Institutions (IPSS) with the purpose of contributing to Sustainable Development? To achieve this objective, qualitative research was carried out in 31 IPSS, which was framed within the scope of the TFA project (Theoretical framework for promotion of accountability in the social economy sector: the IPSS case). Semi-structured interviews were conducted, with a script based on the literature review, from May to July 2019, with those responsible for the management of these entities. A content analysis was conducted, using the NVivo12 Version 12.6.0 software, which enables data to be coded and categorised, reducing any researcher bias. The results indicate that most entities carry out activities of an environmental nature, related to the reuse of materials, the recycling of waste, the sale of materials for recycling, and user awareness. Several entities expressed financial limitations to the implementation of Environmental Management Systems and their accomplishment. However, the objections presented are not impossible to overcome, according to studies presented in other countries.

This study focuses on a sample of Chinese listed companies from 2019 to 2020 to explore the relationships among corporate social responsibility, financial constraints, and financial performance. In addition, we discuss five factors affecting financial constraints. We also analyze the types of enterprises that can improve their financial performance by implementing corporate social responsibility keeping in mind the factors that lead to a high degree of financial constraint. The results indicate that: 1. The degree of financial constraints has a negative and significant impact on financial performance; 2. There is a reverse relationship between the degree of financial constraints and the effectiveness of corporate social responsibility measures; 3. Enterprises with high financial constraints (due to lower financial slack and revenue growth rates) can significantly improve their financial performance through the implementation of effective corporate social responsibility programs. 4. Enterprises with high financial constraints, caused by financial slack and revenue growth rate, can significantly improve their financial performance by implementing corporate social responsibility programs.

Traditional travel agencies and tour operators are recognized as relevant stakeholders in the tourism distribution chain, even though their role as transforming agents in the achievement of more sustainable tourism is beginning to be accepted. This document collects the main topics and the most recent approaches from the academic literature in its analysis of Corporate Social Responsibility (CSR) practices developed by these intermediaries. The work has been structured around six recurring themes in most of the studies carried out: the new intermediaries that operate on the Internet; the role of travel agencies and tour operators in tourism sustainability; the influence of the size of the company; CSR as a disruptive innovation in this sector; the potential of the sustainable tourism supply chain; and the motivations and attitudes of the managers of these businesses when they engage with responsibility. This last topic is developed in greater detail since it is closely linked to the previous ones and dictates in most cases the meaning and function of the sustainable performance.

We examined how combinations of corporate social responsibility (CSR) activities lead to high performance in Korean companies. This study addressed two related questions to expand our limited knowledge in this area. The first was what combinations of CSR activities achieve high performance. The second was to identify how CSR activities form an interdependent system, depending on different corporate situations. Korean Economic Justice Institute index data, from 2012 to 2018, were used with fuzzy set qualitative comparative analysis, and the results revealed several effective CSR activity factor combinations under given strategies and management environments. Companies with high performance exhibit complementarity between social contribution, environmental management, fairness, and employee satisfaction. By contrast, companies with low corporate performance show no complementarity between relatively unrelated activity factors. For companies whose CSR activities lead to low financial performance, most of the causal pathways focused only on activities at the primary stakeholder level, with weak diversity of CSR activities’ combinations at the primary and secondary stakeholder levels. These results indicate not only the appropriateness of CSR activity factor combinations for companies’ strategy and management environment contexts, but also their effectiveness, and are expected to provide companies with significant implications for CSR activities.

Corporate social responsibility (CSR) has become increasingly important for companies in recent years. On the one hand, regulatory frameworks require the disclosure of measures for sustainable management. On the other hand, for long-term corporate success, stakeholders must be strategically engaged in the dialog on sustainability aspects. Social media, and Twitter in particular, offer the potential to foster a meaningful stakeholder dialogue on CSR topics. Due to Elon Musk's acquisition in the fall of 2022, this strategic disruption provides an opportunity to systematically capture the platform's past activities and strategies to synthesize practical information that can guide Twitter usage decision making and be used for research to serve as the basis for future comparative longitudinal studies of changes in usage. We conducted a literature review including 42 papers to contribute to the body of evidence on CSR communication strategies on Twitter across industries and countries by deriving interdisciplinary suggestions for strategic CSR-related stakeholder management. Results cover relevant CSR topics, prioritized stakeholder groups for CSR communication on Twitter and successful communication strategies for companies to obtain beneficial results, such as generating social media capital. The results contribute to the strategic planning and implementation of CSR stakeholder management on Twitter and offer starting points for future studies on social media mining and CSR communication strategies.

The commitment of the EU to Corporate Social Responsibility (CSR) is projected in the EU law about annual reporting by businesses. Since EU member states further develop this framework by their own domestic laws, annual reporting with CSR information is not unified and just partially mandatory in the EU. Do all European businesses report CSR information and what public declaration to society do they provide with it? The main dual purpose of this paper is identifying the parameters of this annual reporting duty and studying the CSR information provided by the ten largest Czech companies in their annual statements for 2013-2017. Based on legislative research and the teleological interpretation, the current EU legislative framework with Czech particularities is presented and, via a case study exploring 50 annual reports, the data about the type, extent and depth of the CSR is dynamically and comparatively assessed. It appears that, at a minimum, large Czech businesses satisfy their legal duty and e-report on CSR in a similar extent, but in dramatically different quality. Employee matters and adherence to international standards are used as a public declaration to society more than the data on environmental protection, while social matters and R&D are played down.

In 2013, the CMA at the İstanbul Stock Exchange increased the weight assigned to the Board of Directors component of its Corporate Governance Index to 35% from the previous 25%. Interpreting this as a recognition of the increasing vital role of the board, this study seeks to enhance the work of Abdıoğlu and Kılıç (2015) by putting more focus on the role of women in the boards and the effect of the busy chairman as well as the presence of outside directors on the effectivity of the Board. (The general business structure is associated with family owned groups and holdings which results into a network of intertwined board membership and cases of multiple directorship where, one board chairman can hold the same position or any directorship in as many as ten firmshence the busy chairman). I employ a different method of evaluating performance (EVA) together with the accounting measures of ROE and ROA (as opposed to the overused Tobin’s Q), which I regress against the Board Index to be created. The focus is on firms on the BIST 100 index (excluding financial) between 2009 and 2013. The results reveal that the BINDEX has a significant and positive relationship with firm performance as measured by EVA. A second model reveals no relationship between the BINDEX and firm ROA, similar to the results of Kiliç and Abdioğlu (2015). ROA however has a positive relationship with the proportion of female directors in the board, as earlier reported by LückerathRovers (2013). Another model using ROE as the proxy for performance registers a significant negative relationship with the index. The contradiction obtained in the results from these three models underscore the importance choosing the right methods when estimating the performance of a firm.

Although numerous articles have been published to address drivers or barriers of corporate social responsibility (CSR), some parts of the world have received less attention. In this study, I reviewed the literature, from 2010 to 2021, to identify drivers and barriers of CSR in the the Middle East and North Africa (MENA) region and compare them with the findings in western countries. (2) Methods: For this study, I used a structured literature review method. By setting the inclusion and exclusion criteria, only 28 articles remained from selected database; (3) Results: The findings revealed some CSR drivers, such as leadership styles, profitability, reputation, moral commitment, and environmental conservation are common in both regions. There are also some differences between CSR drivers, for example religious beliefs, low concentration of ownership, and company characteristics are some of the drivers in the MENA region. Maintaining social license to operate, avoiding the risks of community opposition, pressure from the government, and consumer demand tend to be more important in western countries. Common barriers in both regions are lack of financial resources, cost, lack of CSR knowledge and awareness, and ownership concentration. This review also highlighted that lack of law enforcement, lack of stakeholder communication, lack of management commitment, lack of interests, corruption, and financial debts are some of the addressed barriers of CSR in the MENA region, while cost/benefit ratio, lack of customer interest, and lack of scientific frameworks are the special barriers in western countries. (4) Conclusions: While researchers in western countries have more focus on energy sector, there is a lack of research about drivers and barriers of CSR in the MENA region in several industries, including oil and gas.

This article explores the question of the rate of digital progress in the context of the labor market. Specific features of the current situation are indicated: temporality of socio-technological transformations, which is becoming less and less compatible with the harmonious development of man and society; the pace at which machines acquire intelligence; total devaluation of mental labor; unresolved issue of the role of man in the world of intelligent machines; the criticality of the problem of the labor market, due to its global nature, social significance and the rate of socio-technological changes. It is emphasized that these circumstances in the short term threaten the sustainable development of the global society, whose reactions to the transformation of technological and socio-economic infrastructure are significantly lagging behind. It is concluded that there is an urgent need to strengthen social responsibility, determined by the new ethics of relations between humans and machines with AI, supplemented by the primacy of the dignity of the social role of humans. The authors point out the urgent need to revise ideas about work as the main purpose of a person and about realization in the profession as the main factor that determines the self-esteem of an individual and his social status.

Developing prosperous and inclusive societies requires a reformulation of the business-society nexus toward sustainability. This means that all economically motivated behaviors of firms need to also consider their social and environmental impact, and all social and environmental policies need to also consider their impact on the economy. With the Companies Act 2013, the Indian government adopted a legislative approach to reconfigure the business-society nexus. Mandating what has been considered discretionary elicited an extensive academic debate. We employ Content Configuration Analysis on 70 local and international English-language book chapters, research articles, reports, reviews, and expert commentaries published between 2013 and 2019 to develop a typology of the advantages and disadvantages associated with the Companies Act 2013. We find that, among the large set of arguments for and against the Act, specific arguments extolling its advantages concurrently appear as disadvantages in other texts. This paradox is indicative of the difficulties of satisfying stakeholder expectations, as well as the complexities corporate responsibility programs face in India. By systematizing the opportunities and challenges associated with the Companies Act 2013, we reveal how, similar to China, context and culture influence India’s socioeconomic development trajectory beyond the conventional market economy canon.

The rise of Asian and the stagnation of Western middle classes over the last thirty years have resulted in gradual convergence of income of large parts of the world’s population. Recent global crises ‐ the Great Recession and the COVID-19 pandemic ‐ have led to a decline in income and increase in income uncertainty. Rise in consumption of lower quality goods of shorter durability and an overall decline in demand and economic activity resulted as challenges to the global economy. In this paper, we argue that generational responsibility in consumption can be an environmentally sustainable response to crises which enables the economies to overcome the crisis of confidence and reaffirms community ties. As an element of long‐term orientation in consumption, generational responsibility is a cultural phenomenon dependent on solidarity within family and the wider community. It is characterized by consideration of consequences of consumption choices on the environment, and the abundance of savings and the usability of goods to be inherited by future generations. For companies, willing to revisit their traditional business models and incorporate principles of sustainability in their competitive strategies, promotion of generational responsibility can become a new source of competitive advantage and a driver of economic recovery.

The concept of a Social License to Operate (SLO) has become increasingly important in the sustainability literature in recent years. Having its origins in the business discourse of the mining industry with respect to limiting opposition to mining projects, the notion of a social contract above and beyond legal requirements has since become applied across a number of different industries. Despite the concepts adoption confusion exists over the practices and outcomes of SLO, and particularly the nature of engagement. Given this situation it is surprising that not more attention to the role of marketing, and social marketing in particular, in operationalizing the concept. The paper discusses the potential of social marketing to contribute to SLO. Economic, political and social relations are complex in SLO and exchange is intricate in such relational environments. A community-based social marketing orientation is proposed as a means to improve exchange relations and enhance engagement. Seven models of SLO related social marketing models are discussed with community-based social marketing and adaptive co-marketing models being regarded as the most positive for the achievement of an SLO. Potential barriers to adoption of these approaches are noted.

This paper introduces a theory for the evolution of corporates in which the growth and sustainability strategies are developed simultaneously. Since the introduction of corporate sustainability, it has been an extra cost for risk mitigation and making ‘compensating’ positive impact. The world has reached a tipping point of volatility, mainly due to climate change but also by emergence of COVID-19, so that the applicability of existing corporate structures is under question and these poses high risk to the existence of our planet. On the other hand, the technology cost for sustainable investment has reached a parity in comparison with non-sustainable alternatives. Therefore, our proposed Organic Grow Theory introduces a step-by-step approach so that corporates can grow and be profitable without compromising the ability of future generations to meet their needs. It is concluded that, a new structure for corporate, called Founcorp, would be needed to direct corporates to evolve being a responsible legal entity.

To determine the adequacy of management practices in Social Health Organization (SHO) in face of compliance guidelines established by Brazilian organizations. This was qualitative research. Data were gathered through interviews and documentary analysis and were analyzed through the interpretation of significances and content analysis. The entity structures the compliance function based on three axes: a) normative - institutionalization of the integrity program, ethical conduct, internal controls and risk management; b) commercial - institutionalization of mechanisms aimed at transparency and accountability of the funds raised. However, the Covid-19 pandemic generated unforeseen contingencies such as accountability for funds from private donations; c) organizational - adherence by top management in maintaining a structure for inspection and control of the institution’s processes and behaviors in the market in which it operates. Based on the analysis of documents there is 76% adequacy of adherence of management practices to the compliance guidelines. It is concluded that organizations that depend on resources and understand that the subsidies they receive, whether government, whether public or private donations, will make the necessary efforts to ensure high levels of compliance, their choices and conduct preserve their image and the achievement of greater credibility and legitimacy.

We examined the causality between growth opportunities and earnings quality of the emerging economies. We develop an argument that growth opportunities should lead to high-quality earnings of the developing economies against the prior studies from developed economies which posit that growth opportunities result in a lower quality of earnings. The findings revealed that Growth Opportunities had a positive significant effect on Earnings Quality (EQ). Thus, the study concluded that growth opportunities are useful in determining the earnings quality of firms. The study recommends that managers should take advantage of their firms' growth opportunities to provide quality accounting information which will directly provide expanded opportunities for business growth. Though literature confirms that generally, earnings management might not be necessarily bad in business operational practice, managers are advised to avoid extreme aggressiveness in managing earnings as this may culminate in the negative manipulation of accounting information.

This research contributes to the development of theories regarding the relationship between Corporate Social Responsibility (CSR) and investment decisions. Acquisition of stock returns that exceed normal predictions depends on the successful implementation of Good Corporate Governance (GCG). This study aims to examine investors' reactions to information on CSR disclosure in several countries that are members of the Association of Southeast Asian Nations (ASEAN). Furthermore, this study also examines the role of implementing GCG in strengthening the impact of CSR disclosure on investor relations as measured by abnormal stock returns. The sampling technique used was purposive Sampling. The research was conducted on Manufacturing Companies in countries that are members of ASEAN during 2017-2019. The estimation model used to analyze data is a multiple regression model. The results showed that CSR information was able to increase investors' positive reactions. Meanwhile, GCG practice is proven to strengthen the impact of CSR information on investment decisions. Other variables involved in this study, namely audit quality, company size, debt level, and sales growth, are not proven to influence abnormal stock returns.

In relation to organizational performance measurement, there is a growing concern about the creation of value for people, society and the environment. The traditional corporate reporting does not adequately satisfy the information needs of stakeholders for assessing an organization’s past and future potential performance. Practitioners and scholars have developed new non-financial reporting frameworks from a social and environmental perspective, giving birth to the field of Integrated Reporting (IR). The Economy for the Common Good (ECG) model and its tools to facilitate sustainability management and reporting can provide a framework to do it. The present study is the first one that empirically validates such metrics on a sample of 206 European firms. Consequently, it allows knowledge to advance as it checks their statistical validity and reliability.

As the demand for a more sustainable society increases, adopting a sustainable banking approach serves as a competitive advantage for banks that are focused on attaining bank loyalty. This study revolves around understanding the role of sustainable banking practices on bank loyalty, while exploring the mediating effect of corporate image in the relationship between sustainable banking practices and bank loyalty. 511 data derived from customers of the banking sector was adopted for this study. Result from the structural equation modeling shows that sustainable banking practices positively and directly affects bank loyalty and corporate image, corporate image directly and positively affect bank loyalty, and also mediates in the relationship between sustainable banking practices and bank loyalty.

Digital transformation of companies is often referred to as a future track and a strategic path towards ensuring the survival and sustainability of companies. In this paper, we aim to outline this transformation process in Tunisian companies and identify its driving factors and finally explain its key success factors. To this end, we examine a sample of 70 companies operating in all economic sectors. The results indicate that such a digital strategy has a significant and a positive effect on the success of digital transformation of companies. Leadership has an effect at a low level of digital maturity. On the other hand, corporate culture does not have a significant effect on digital transformation. These results contribute to explaining this emerging phenomenon by focusing on the driving factors as well as the factors that contribute to its success.

In this paper we analyze the relationship between bankruptcy risk and the corporate life cycle in Pakistan from 2005 to 2014. For this purpose, we run a Hierarchical Linear Mixed Model (HLM) for a sample of 301 non-financial listed firms in 12 different sectors. The empirical outcomes reveal that firms during introduction, growth and, decline stages (mature stage) of life-cycle experience higher (lower) bankruptcy risk. Moreover, in juxtaposition with growth stage, bankruptcy risk is higher at the introduction stage of life-cycle. These findings suggest that financial managers should be cautious about the financial fragility of the firm at each stage of corporate life-cycle. The results also entail that Pakistani firms do not follow a sequential pattern in their life-cycle rather they have the tendency to revert to a previous stage or jump to the next stage of life-cycle. This is the first study that empirically examines the association between firm life-cycle stage and corresponding bankruptcy risk and asserts that managers must incorporate the life-cycle effects into their financial planning and decision making for sustainable working of an enterprise.

This paper discusses corporate taxes and Foreign Direct Investment (FDI) in Nigeria. It is a review of literature that attempts to explore and give a reality on the response of FDI to corporate taxes. This paper shows in its introductory phase a prior discussion of the terms corporate tax and FDI and also elements of both terms and classifications. It follows with issues such as the effects of corporate taxes on FDI. This paper discusses the rhetoric whether reduced corporate taxes and other tax incentives has an effect on the inflow of FDI in Nigeria. To answer this question, the paper utilised information gathered from secondary sources including books, newspapers publications, working papers and research findings from studies. This paper shows that from surveyed empirical studies corporate taxes may have an important role in attracting FDI and have a rising effect on the development of the country, and as such recommends that tax incentives should be employed as a means to attracting FDI, a cost benefit analysis should be employed on the types of corporate taxes to determine the benefit from the perceived FDI inflow, in addition a review of the current tax policies should be carried out as they seem not to respond to the current economic situation.

This document aims to adapt the dimension of the Socially Responsible Brand Personality (SRBP), proposed by Mayorga (2017), in the midst of the Covid-19 pandemic. The interest of this work is to contribute with the management of the CSR, contributing from a communicational perspective with a tool that optimizes the construction of a socially responsible image by the different stakeholders. The results allow us to conclude that there is a structural modification of the brand personality, which can be presumed to be generated by the current environment and can be established as a pillar of CSR management in the new normality.

Corporate governance is developing rapidly in many countries across the world. In this article, the existing state of corporate governance in Jordan is examined. Jordan does not have a corporate governance code per se. The article reveals that overall Jordan has in place some of the features of corporate governance best practice, but that there remains further progress to be made in areas such as independence of directors, compensation, and correlation between shareholding and entitlement to seats on the board. The article recommends legal reforms in order to enhance corporate governance in Jordan.

This paper aims to show that sustainable behavior by firms may be impaired by regulatory restrictions. We challenge the assumption that regulation aimed at curbing greenhouse gas emissions (GHG) on the form of a target to meet the Country’s GHG emissions commitments will promote sustainable corporations. We argue that, in fact, such regulation may impair sustainability practices because it creates unintended consequences. This paper tackles the efficiency of the institutional framework chosen through the lenses of the analytical themes of fit, scale and interplay, then we use a systems dynamic approach to represent how regulation in the arenas of energy efficiency and GHG emissions reduction may withhold competitive business outcomes and corporate sustainability schemes. We exemplify and simulate a single regulation scheme and found that as a result of the institutional scheme chosen, the system is dominated by negative feedback processes resulting in lesser outcomes that would be better tackled by firms not being subject to the restrictions imposed by the regulation.

The paper aims to investigate on the determinants of the capital structure of the Italian SMEs and it is based on a large panel of Italian manufacturing SMEs observed in the years 2001-2013. The analysis achieves a comparative investigation between the capital structure of the firms belonging in the Southern region, the so-called Italian Mezzogiorno that is the slow growing area of the country, and the firms of the Center-northern region of Italy, that is the more developed area of the country. Fixed effect panel techniques applied to the several standard leverage models allows to reaffirm some distinctive features showing differences of the financial behavior of regional firms.

We propose a novel credit risk measurement model for Corporate Default Swap spreads, that combines vector autoregressive regression with correlation networks. We focus on the sovereign CDS spreads of a collection of countries, that can be regarded as idiosyncratic measures of credit risk. We model them by means of a vector autoregressive regression model, composed by a time dependent country specific component, and by a contemporaneous component that describes contagion effects among countries. To disentangle the two components, we employ correlation networks, derived from the correlation matrix between the reduced form residuals. The proposed model is applied to ten countries that are representative of the recent financial crisis: top borrowing/lending countries, and peripheral European countries. The empirical findings show that the proposed model is a good predictor of CDS spreads movements, and that the contemporaneous component decreases prediction errors with respect to a simpler autoregressive model. From an applied viewpoint, core countries appear to import risk, as contagion increases their CDS spread, whereas peripheral countries appear as exporters of risk. Greece is an unfortunate exception, as its spreads seem to increase for both idiosyncratic factors and contagion effects.

This paper explores how the sustainable investment impacts financial returns and economic development in of Asia Pacific and North America, utilizing real data empirically. In academia and industrial field, it is polemical that indeed, the sustainable behavior has economic returns. In order to clarify that, we tested hypotheses with an analysis of seven stock markets, accounting of rates such as ROI, ROIC, and ROA in eleven companies, and GDP/GNI per capita. The results indicate that both financial return and economic development are positively germane to the sustainable investment. Besides, the variance of sustainability to economic development exists, depending on GDP per capita between two regions. We conclude, concerning the sustainability, by corroborating micro perspective for corporate level and macro perspective of economic development in the private and public sector. This research consequence will be interested in both practitioners and researchers in the measurement of sustainability performance

There is a strong need and demand from the United Nations, public institutions, and private sector for classifying government publications, policy briefs, academic literature, and corporate social responsibility reports according to their relevance to the Sustainable Development Goals (SDGs). It is well understood that the SDGs play a major role in the strategic objectives of various entities. However, linking projects and activities to the SDGs has not always been straightforward or possible with existing methodologies. Natural language processing (NLP) techniques offer a new avenue to identify linkages for SDGs from text data. This research examines various machine learning approaches optimized for NLP-based text classification tasks for their success in classifying reports according to their relevance to the SDGs. Extensive experiments have been performed with the recently released Open Source SDG (OSDG) Community Dataset, which contains texts with their related SDG label as validated by the community volunteers. Results demonstrate that especially RoBERTa achieves very high performance in the attempted task, which is promising for automated processing of large collections of sustainability reports for detection of relevance to SDGs.

Corporate Sustainability (CS) literature has gone through a period of intense development. The moment is favorable to gathering these contributions to consistently advance the state of the art in CS and, also, discuss them to apply in real contexts. The main objective of the paper is to systematize, through a systematic literature review using content analysis of the 30 most cited articles from 2007 to 2017, the guiding pillars of CS management. The systematic search for papers was carried out in Scopus and Web of Science and the initial screening of the papers was assisted by the coding software MAXQDA 2018, through which the authors structured and analyzed their main insights, contributions and conclusions. After getting acquainted with the sample, an in-depth reading of the texts was conducted and 60 CS elements were identified. The elements cited in the relevant literature were grouped into 6 pillars related to Corporate sustainability strategy; Corporate governance; Human resources management; Knowledge and innovation management; Measurement, disclosure and independent assurance; and Management systems and Integrated management systems. The discussion of CS management pillars presented in this study provides understanding to researchers and managers on the main aspects that make up the integration of this construct in the companies, especially from a management point of view.

There is a growing recognition of the need to incorporate sustainability considerations early-on in the product development (PD) process (PDP). As part of a case study at an engineering consultancy firm, this paper identifies considerations that influence the integration of sustainable design practices into real-world PD practices. This is informed by the first author getting embedded in the firm as an intern, and closely observing the PD workflow across various projects, conducting interviews and group discussions with a wide range of practitioners, and iteratively designing and testing various potential interventions. From literature and observation, we find that designers and engineers often struggle to identify and apply the right sustainable design methods and tools (SDMTs) to tackle the environmental impacts associated with their products. Through a human-centered design process, we co-created a reusable, modular framework of practices that aids the selection of relevant strategies, based on the environmental hotspots, stage of the PD process, and the client’s sustainability priorities. The paper further presents insights related to the framework’s real-world application and impacts in the firm, based on results of longitudinal engagement with the firm.

There is an increasing pressure by community and customers forcing companies to insert environmental concerns in their practices. To help companies initiatives, the green bonds market was incepted. Our research question is how to select bonds in a growing billion-dollar market. This paper presents a multi-criteria decision analysis (MCDA) model to enable investors identify opportunities based not only in opinions, but grounded on objective facts. Analytic Hierarchy Process (AHP) and Complex Proportional Assessment (COPRAS) are two MCDA methods applied in this paper. Top-fifteen green bonds ranked by specialized media were assessed with the proposed MCDA model. Criteria included the Environmental Performance Index (EPI) proposed by Yale University, and common financial indicators as assets, risks (β), and dividends. The new AHP–COPRAS rank is compared with another published by specialized media.

This research aims to determine the influence of the independent commissioners, audit committee, institutional ownership, firm size and leverage against the integrity of the financial reporting information. This research is quantitative research with the causal approach. This study uses secondary data and panel data regression analysis method. The research results prove that audit committee, institutional ownership and leverage effect on the integrity of the financial reporting information. But it does not prove that the independent commissioner and firm size effect on the integrity of the financial reporting information.

It is well recognised that the mining industry in South Africa is highly rated for its substantial contribution to the country’s economic growth, including employment and infrastructural development. It is also known that mining and ore processing activities potentially pose a severe threat to public health and environmental well-being, in the way operations are carried out, mine wastes are disposed of (in dumps), local communities are relocated, mine management and the mining community in general, perceive established environmental standards and etiquette. This paper examines ethical practices and norms in the South African mining industry, with particular reference to the management of tailings dams. We analyse the modes of articulation of the country’s regulatory instruments for tailings management, and review the corporate social responsibility (CSR) approach of leading mining companies. Despite decades of research and resulting recommendations on tailings management, it is concluded that current legislations are largely ineffective, level of adherence by mine management and the mining community, low, and mechanisms for compliance monitoring, weak. New perspectives on legislative issues for unsolved problems in tailings handling are put forward, and directions for future research, indicated.

Corporate sustainability reporting, also known as Triple-bottom-line reporting, involves reporting nonfinancial and financial information to a broader set of stakeholders than just shareholders and seek to fortify an organization’s ability to manage key risks. The current case is that, the quality, rigor, and utility of sustainability reporting remains contentious with concerns about the suitability of the criteria or standards used to prepare the reports. Despite the rapid increase in the number of companies around the world adopting Global Reporting Initiative standards, little is known about the extent of practice of corporate sustainability reporting in public universities in Kenya. The study selected five universities that had their 2017-18 audited financial reports available online for the readers, which served as the main source of secondary data. The guidelines on corporate sustainability reporting was derived from literature review, which provided key indicators upon which the data from each university was evaluated. It was observed that almost all the institutions recognize the critical role of both internal and external independent audit of financial statements. In conclusion, financial reporting sustainability is guided by strict compliance to the factors of sustainability.

Corporate governance is widely suggested by economists and regulators as a solution to reduce agency problems and improve firm performance. However previous studies have failed to generate consistent results. Using a dynamic panel system GMM estimator to alleviate endogeneity concerns we determine the effect of corporate board structure on the performance of a panel of 1265 Chinese firms listed on the Shanghai and Shenzhen stock exchanges from 2010 to 2016. We compare the dynamic system GMM estimator to some commonly used estimators; ordinary least squares (OLS), fixed effects (FE) and the dynamic OLS, and show that these estimates are biased due to endogeneity. The dynamic system GMM estimator incorporates the dynamic nature of internal governance choices to provide valid and powerful instruments that address unobserved heterogeneity and simultaneity. Our results show support for the board model corporate governance mechanism. We find that board size is positive and significantly related to both return on assets and total net profit margin. In addition board independence is positive and significantly related to return on assets but insignificantly related to total net profit margin. Duality was found to have a negative but statistically insignificant relation with firm performance.

This article analyzes the emergence of partnerships between corporations and nongovernmental organizations (NGOs) through voluntary product labeling schemes. The economics, management, and business literatures are reviewed to highlight cross-checking, consistencies, and complementarities among these disciplines. The objective is to identify and analyze the motives, risks, and joint benefits of partnering via voluntary product labeling, using examples from the agri-food sector. This study is an attempt to offer a framework of corporate-NGO partnerships by showing that the drivers and risks of each partner merge because each takes a step into the sphere of the other. The main risks – namely, a loss of profitability, credibility and legitimacy – are related to the financial and existential dependency and the asymmetric information between the partners in favor of corporations, inducing an ``NGO-capture'' risk.

Abstract: The aim of this study was to compare the influence of corporate board characteristics on the extent of environmental disclosure quantity of listed firms in two leading emerging economies in Africa, South Africa (integrated reporting framework) and Nigeria (traditional reporting framework). Methods: The sample was comprised of 303 firms including environmentally sensitive companies purposively selected for content analysis study in South Africa (213) and Nigeria (90). We used both descriptive, multivariate and regression models to comparatively analyze the differences about corporate board characteristics as determinants of the extent of their environmental disclosure quantity. Results: The results reveal a more significant positive association between board characteristics and environmental disclosure in South Africa and less relevant association in Nigeria. Also, the results support that board independence arrangement may serve as bonding mechanisms in weak reporting environments, suggesting a substitutive relationship between board independence and the regulatory framework. Quiet revealing a board with environmental committee show a higher tendency to be ecologic transparent in both countries. However, in a traditional reporting framework, the environmental committee is not enough; its effect was insignificant and highly significant in the integrated reporting framework. Further revealed is the significant positive effect of industry membership influence on environmental disclosure. In all estimated models of South Africa sample show that 45% of environmentally sensitive industries significantly influence environmental disclosure, while 51% is environmentally polluting industries in Nigeria show less concern on environmental disclosure. Interestingly, Audit firm size (Big4) positively and statistically significantly associated with overall environmental reporting in both countries. The results are consistent with stakeholder theory, agency theory, institutional and legitimacy theory suggesting that a strong board size, independent members of the board with auditing experience, the active environmental committee in conjunction with solid audit reputation may reduce information asymmetry. Our findings will be helpful for policymakers and other regulators who are interested in environmental impact reporting.

This paper investigates if Corporate Social Responsibility (CSR) reports published by a selected group of Nordic companies are aligned with the Global Reporting Initiative (GRI) standards. To achieve this goal, several natural language processing, and text mining techniques were implemented and tested. We extracted strings, corpus, and hybrid semantic similarities from the reports and evaluated the models through the intrinsic assessment methodology. A quantitative ranking score based on index matching was developed to complement the semantic valuation. The final results show that Latent Semantic Analysis (LSA) and Global Vectors for Word Representation (GloVE) are the best methods for our study. Our findings will open the door to the automatic evaluation of sustainability reports which could have a strong impact on the environment.

The past several decades have seen a shift in patient care towards digitalisation, which has ushered in a new era of health care delivery and improved sustainability and resilience of health systems, with positive impacts on both internal and external stakeholders. This study’s aim was to understand the role of digital virtual consultations in improving internal and external stakeholders’ health, as well as wellbeing among hospital doctors. A qualitative research approach was used with semi-structured online interviews administered to hospital doctors. The interviews showed that the doctors viewed digital virtual consultations as supplementary to in-person consultations, and as tools to reduce obstacles related to distance and time. If the necessary infrastructure and technology were in place, doctors would be willing to use these options. Implementing these technologies would improve the medical profession’s flexibility on the one hand; but it might affect doctors’ work–life balance if consultations extended beyond standard working hours.

The Coronavirus (COVID-19) pandemic has created big challenges and opportunities in Higher Education (HE). In this situation, several universities worldwide have responded with digital methods and hybrid classes in a short period of time. The aim of this paper is to show how the universities have adapted teaching methods to digital platforms in the academic year 2020–21. This case study is based on the experience of 37 postgraduate communication students in the course Business and Communication from a Communication Programme. The objective of this course was to promote the 17 sustainable development goals (SDGs) in business and following the Principles for Responsible Management Education (PRME) of the United Nations. To do this, the students provided different solutions related to the SDGs and developed a communication strategy to inform and engage the stakeholders in the companies analyzed in a hybrid class. The results show that using this methodology and working in digital platforms, students have learned the importance of SDGs through implementing specific solutions linked to the corporate social responsibility (CSR) strategy. Based on this analysis, they also developed a communication strategy showing how companies can improve society with specific actions through the lens of the SDG perspective.

The Directive 2014/95, in force in 2017, is the first European step that requires mandatory non-financial information to undertakings (all “public interest entities” with more than 500 employees). The regulation is concerning sustainability information as environmental, social and employee, human rights and anti-corruption and bribery matters and disclosure of diversity policy for board members. The study, in the strand of the regulation of accounting, part of the broader field of research into accounting regulation, contributes to the debate on the quality of regulation, in this specific case referred to sustainability disclosure. The regulation of sustainability matters is studied in literature broadly in a post-implementation phase and at national level. This research, instead, aims to analyse, through the causal chain of regulatory policy, in the ex-ante stage, the quality of the regulation and, at least, the usefulness of the normative pressure. The Oil & Gas sector is chosen as sample of the study, because it is one of the most advanced sectors in sustainability disclosure. The examination of the law, in terms of content requirements (what) and location of information (where), is the basis to apply the disclosure-scoring system, a partial form of content analysis, to the reports of the sample. The findings reveal a good level of completeness of non-financial information, however, there are some areas that have to be improved to reach the requests of the Directive. Results show also the presence of overlap between financial reports and sustainability ones. In conclusion, the regulation is useful to prompt undertakings to reflect on their reporting and so doing improve their sustainability approach.

Corporate identity has played a vital role in the Halal industry to create a strong foundation for its reputation in the long run. This paper used two modeling analyses for two different data. The first analysis aims to predict the relationship between Corporate Identity Management between Internal Brand and Employee Brand Support (consequence) mediated by CIM using partial-least squares-structural equation modeling (PLS-SEM). A total of 206 employees from Malaysia’s Halal food SMEs took part in the survey. The second analysis to identify topic proportions patterns using the topic modeling approach on Halal brand identity Machine learning approach of knowledge mining was applied for this analysis. Metadata of 1,091 articles were mined from the Scopus database on Halal studies across all social sciences fields. The result revealed that there was a partial relationship between Internal Brand (antecedent) and Employee Brand Support (consequence) mediated by CIM. This finding was supported by the identified topic proportions patterns from the topic modeling approach that pointed out a weak topic proportion on the Halal brand identity discussion globally, interestingly the result also found that the Halal brand identity discussion involving the Halal food industry is almost non-existed in Malaysia’s Halal food SMEs. The contributions of this paper were apparent in three major areas which are methodology, theoretical and future suggestions. The utilization of two different model analyses was able to confirm the consistency of the major findings with the literature review which opens up more possibilities for future researchers.

City marathons have evolved and grown exponentially in type and popularity, managerial complexity, for their financial impact on their host cities and for the attraction of corporate sponsors. Much research has focused on evaluating the broad economic, urban, tourist, social, sporting, and symbolic effects of city marathons on host cities. Research have not examined the importance of the contribution of sponsors to the financial stability and its implications to the overall management and further success of marathons. This article focuses on the cases of the Bank of America Chicago Marathon and the Marathon Valencia Trinidad Alfonso and examines how effective has been the contribution of their sponsors to the financial stability and its implications for the management and success of both races over time. Results show that the international success of both events –in terms of sporting participation, performance and economic impact– is closely related to the design and management of the event; the synergies between the political, business and sporting spheres that the organizational leadership of the event has made it possible to implement and, as a consequence, the support received from sponsors, which has not only provided both races with financial stability, but also has contributed to improve the management of the race.

Currently, companies and SMEs (small and medium enterprises) are looking to be more competitive. In order to achieve this, they are adopting new business models and strategies that allow them to move towards sustainability. Strategies such as CSR (Corporate social responsibility) and supply chain management have become essential for ensuring a company’s permanence and financial consolidation. The literature has stated that the theories of Stakeholders and Sustainability are fundamental pillars for the development and sustained growth of business. The purpose of this article is to examine the effects of CSR and the SC (supply chain) on innovation, image and reputation, and in turn, their influences on profitability in SMEs. This research is based on a sample of 143 companies in the city of Guaymas Sonora, in Mexico. For the analysis and validation of the results, we used the SEM (Structural Equation Modeling) statistical technique based on the variance, through PLS (Partial Least Squares) (using SmartPLS version 3.2.6 Professional). The findings show that SMEs that develop social and sustainable practices increase their level of innovation, and improve their image, their reputation, and their financial profitability. This work contributes mainly to the development of Stakeholders and Sustainability.

Purpose: The goal of the present study was to investigate chief executives’ intention and potential to create a family-supportive culture in the Brazilian context, further assessing the role of their aspirations in their employees’ perceptions. Methodology: Two researchers conducted 60 minutes of online semi-structured interviews with CEOs of seven companies of different sizes (measured by the number of employees), economic sectors, and capital structure. To complement the data gathered from CEOs, we also conducted private and individual 30-minute online interviews with three employees from each company. Findings: A total of four categories and 11 sub-categories emerged from the analysis of CEO interviews, and four categories and six sub-categories emerged from the analysis of employee interviews. Originality: The results suggest that family-supportive culture is promoted through behaviors that are consistent with the organization’s core values, as well as through commitment of the agenda and resources of the company’s leadership team.

Background (1) In the time of the 4th Industrial Revolution or Industry 4.0, a conglomerate of technical and social inventions, political contexts, socio-cultural circumstances, environmental policies, business models, and economic policies has emerged. Sustainability policy in theory and practice aims to deal with the effects of all these factors and to try to make decisions that ensure both social and economic development sustainably. The question is how to familiarize oneself with the current knowledge about the relationship between Industry 4.0 and sustainability?; (2) Methods: This research utilizes an automated content analysis method to analyses scientific journals, newspapers and magazines. The comparison of results of both research group shows that the scientific literature focuses more on changes in business models, production processes and technologies that enable sustainable development; (3) We found that the scientific literature focuses more on changes in business models, production processes and technologies that enable sustainable development. Newspapers and magazines articles write more about sustainable or green investment, sustainable standards and sustainable reporting. Newspapers and magazines articles write more about sustainable or green investment, sustainable standards and sustainable reporting. Newspapers, as well as some latest research journals, include articles of the COVID-19 outbreak and its effect on the economy and the environment. Indeed, the outbreak of the virus brings a new thought to the reorganization of the complex relationships between consumers, businesses and the state; (4) Conclusions: According to the comparison of the analyses of the results, it can is that the analyses of both types of literature, both scientific and professional, shows that there are common topics they write about, which are related to the field of clean production, emissions, renewable energy, climate change, sustainable investments and corporate sustainability. An urgent global issue that extends all over the world is the promotion of energy-saving technologies and reduction of carbon dioxide emissions.

While the importance of corporate governance has been broadly acknowledged in global financial markets and academic research, how to devise a practical evaluation system is relatively unexplored. This paper attempts to refine the Corporate Governance Evaluation System (CGES), constructed by the Taiwan Stock Exchange (TWSE) since 2014. The current CGES has several debatable issues in its complicated design (e.g., it comprises over 80 indicators in different types). To resolve those issues, this study invited ten senior domain experts (including several CEOs of financial holding companies) to retrieve 13 essential criteria from the CGES in four dimensions. And this study integrates several multiple criteria decision-making (MCDM) methods (i.e., Decision-making trial and evaluation laboratory (DEMATEL), modified VIKOR, DEMATEL-based analytical network process (DANP)) and the fuzzy evaluation technique to rank the exemplary companies. The obtained ranking is consistent with the one released from the CGES in 2017. This study conducted additional experiments to ensure the robustness of the findings. The newly devised model not only supports the ranking decisions but also provides a managerial guidance for companies to pursue systematic improvements. These findings enrich the understanding of corporate governance and contribute to gaining business sustainability for financial holding companies.

In 2015, the Self-Action Leadership Theory—a qualitative, nomological expansion of self-leadership theory rooted in atmospheric and astronomical metaphor aimed at expanding the personal freedom of individuals, organizations, and nations by bolstering the existential growth of individuals through a series of Maslow-esque stages of holistic, personal development. This article introduces an accompanying, practitioner-based Model of Self-Action Leadership (SAL) aimed at the implicit enhancement of a holistic range of administrative processes through explicit training, mentoring, and coaching in the model’s general and universally-applicable principles and practices. The SAL model produces an original construct of personal leadership practice that builds upon the extant self-leadership academic canon, which dates back to 1983 (Manz, 1983). It also provides an analogue to four of the five core processes of Project Management by positioning a self-action leader (an individual) as the ongoing “project” at hand. The SAL Model is rooted in action research and was developed through a variety of self-oriented, action research projects in conjunction with a comprehensive, qualitative, analytical autoethnographic study of a scholar’s life experiences.