查看更多>>摘要：ABSTRACT Sustainability and business success require ongoing analysis of variables that can impact the stability, efficiency, and evolution of family businesses. To this end, a study based on the environmental, social, and governmental (ESG) variables linked to financial performance was conducted on 93 publicly traded family businesses in the global retail and consumer markets sector in 2023, utilizing data from Thomson Reuters Eikon. Control variables, such as company size, number of employees, and indebtedness, were incorporated. The methodology employed involved a partial least squares structural equation modeling (PLS‐SEM) using SmartPLS. This analysis underscores the importance of social initiatives in enhancing financial outcomes for family businesses in the retail and consumer markets sector above the rest of the selected key variables. The originality of this research lies in its distinctive focus on the social dimension as the primary factor influencing the financial outcomes of family businesses. By highlighting the importance of social initiatives, the study provides an empirical basis that enables academics and business leaders to consider key variables in business development. This facilitates the design of strategies centered on these elements, contributing to the advancement of knowledge in the management of family businesses and their long‐term sustainability.
查看更多>>摘要：ABSTRACT This study examines a unique form of public inquiry that we refer to as “privately commissioned public inquiries.” These inquiries focus on events or incidents that indicate broader structural problems of neglect, misjudgment, or injustice. Using qualitative interview methods, we explore such an inquiry in the global mining industry. We ask: what motivated the company to commission an independent public‐facing inquiry? The study finds that threats to organizational identity are vital precursors to commissioning the inquiry. We also find that the unease caused by public scrutiny supports the maintenance of the company's valued identity attributes, rather than disrupting them. Paradoxically, an artifact remains—the public report, a trace that resists the kind of “forgetting” that the company might use to maintain its identity. We conclude that this public “remembering” indirectly supports organizational learning and advances the practice of human rights due diligence.
查看更多>>摘要：ABSTRACT Corporate social responsibility (CSR) reports hold significant importance for firms to communicate with stakeholders. Previous studies have primarily emphasized the implications of verbal characteristics present in CSR reports, yet there exists a limited understanding on the distinct features of visual information in these reports. The paper integrates stakeholder salience theory and elaboration likelihood model to examine whether online information demand of minority investors in the unique online interactive platforms can prompt corporate visual expressions in their CSR reports. Additionally, we contend that the relationship between online information demand and visual expressions in CSR reports is accentuated when minority investors play a prominent role in a firm, yet attenuated when a firm provides more comprehensible and transparent information. Employing a hand‐collected dataset of 1998 observations from publicly listed Chinese firms from 2009 to 2017, our empirical findings strongly support these arguments. Taken together, this research enhances our understandings of how and when firms respond to the increased collective salience of minority investors resulting from their online information demand by disclosing more visually oriented CSR reports.
查看更多>>摘要：ABSTRACT Climate change and its related policies have significant impacts on energy industries, leading to a considerable number of stranded assets and poor financial performance. Using a global sample of 1147 listed oil and gas firms from 2000 to 2021, this paper investigates whether mergers and acquisitions (M&As) mitigate climate policy shocks, focusing on the consequential financial impacts. Taking the Paris Agreement as the major climate policy shock, we first confirm the negative impacts of climate policy on the financial performance of oil and gas firms, after which we demonstrate M&As can alleviate the adverse effects. Mechanism analysis reveals that the financial benefits of M&As are stronger in upstream firms, those with better corporate governance and sufficient cash flows. Firms in countries with high‐level economic development and carbon risk can benefit from M&As. Furthermore, conglomerate M&As increased following the Paris Agreement, indicating that these energy firms responded to climate policy shocks through diversification. These findings can help us understand the global impacts of climate policies and have important implications for how the energy sector should respond to policy shocks.
查看更多>>摘要：ABSTRACT This article explores investor motivations and the contribution to sustainable development goals of social impact bonds (SIBs) in emerging markets. Through qualitative analysis of in‐depth stakeholder interviews, we identified that SIB investors are primarily driven by organisational learning, social impact generation and strategic alignment with core business objectives rather than financial returns. Our findings reveal that SIBs offer a pathway for achieving corporate social responsibility (CSR) and environmental, social and governance (ESG) objectives by blending private investment with public goals. Drawing on signalling theory, we exhibit how SIBs serve as credible signals of institutional commitment to sustainable development. The study contributes to the literature by identifying the role of SIBs in fostering public–private partnerships via signalling and investors' approaches to environmental and social challenges in emerging economies. This research expands our understanding of SIBs' potential within the CSR and ESG framework and proposes practical implications for businesses seeking to enhance their sustainability impact.
查看更多>>摘要：ABSTRACT This paper tends to examine the role of board cultural diversity (BCD) in affecting corporate social performance within G20 countries, centralizing on the interaction of BCD with global initiatives to curb corruption such as OECD convention, Global Compact and Global Reporting Initiative (GRI) standards. Using data extracted from Eikon for the period 2005–2022, this study focuses on different governance systems in both developed and non‐developed G20 countries. Employing ordinary least squares (OLS), fixed‐effects, and random‐effects models, along with bootstrap standard errors and generalized method of moments, we analyze a comprehensive dataset to assess the impact of governance factors on social performance. The results reveal that BCD, OECD, the presence of anti‐bribery and corruption policies, and United Nations Global Compact (UNGC) are significantly positively related to corporate social performance in OLS 1 and OLS2 models, with significantly different fixed‐effects specifications. The outcomes assert that where BCD is related to corporate social performance, it is significantly context‐dependent and influenced by the presence of effective anti‐corruption strategies and commitment to international initiatives. The study highlights the complexity of governance influences on corporate social responsibility, emphasizing that diverse boards are most effective when embedded within effective governance framework that includes anti‐corruption and sustainability commitments.
Catarina CepêdaAlbertina Paula MonteiroBeatriz Aibar‐Guzmán
2988-3007页
查看更多>>摘要：ABSTRACT Decoupling in sustainability reporting raises concerns about the credibility of sustainability disclosures. This study conducts a bibliometric review of 74 articles from 44 journals indexed in the Web of Science up to 2023, tracking key trends. The findings reveal two phases in research: an erratic growth from 2012 to 2017, followed by a surge from 2018 to 2023, with almost half of the publications in the last two years. Regulatory frameworks, particularly Directive 2014/95/EU, have notably influenced decoupling practises. Researchers use different proxies to measure decoupling, diverse theoretical lenses and empirical approaches, with China emerging as the most studied country. This study identifies five main research streams: characterisation, drivers, mitigating factors, impacts, and alternative views. Complementary analysis of recent publications confirms this trend, with the largest number of articles being published in 2024. The study contributes to the debate on the implications of decoupling for corporate transparency and accountability.
查看更多>>摘要：ABSTRACT Sustainable public procurement (SPP) has been incorporating sustainability issues into commercial relationships between governments and businesses. SPP implementation can be undertaken with the support of organisational changes. Research has highlighted the role of stakeholders' collaboration in driving changes for SPP. However, there is limited understanding of the forces fostering and blocking the implementation of collaboration. This paper analyses drivers for and barriers to implementing collaboration in SPP, based on semi‐structured interviews with SPP practitioners from different world regions (Brazil and Sweden). This paper provides a catalogue of forces influencing organisational changes towards collaboration in SPP (categorised into internal, connecting‐protagonist, connecting‐supporting and external), including 23 drivers, 40 barriers and 24 strategies to overcome such barriers. This paper also proposes an understanding of how organisational changes for collaboration are interconnected with changes for implementing SPP. Organisational changes for SPP must be understood as multiple and composite instead of single and monolithic.
查看更多>>摘要：ABSTRACT This study analyzes how the social aspects of corporate social responsibility (CSR) influence firms' labor investment decisions. We provide new evidence using an international sample of 612 companies in 30 countries from 2012 to 2019; we use the generalized method of moments for our estimations. Our empirical analysis shows that increasing social CSR leads to labor overinvestment but reduces labor underinvestment. Our results also demonstrate that employment protection legislation limits the effects of social CSR on labor underinvestment. In conclusion, this study disentangles the relationship between social CSR and labor investment decisions. Finally, we discuss some relevant practical implications for managers and shareholders as we reveal the effect of social CSR on labor investment decisions and suggest a substitution effect between social CSR efforts and employment protection legislation.
查看更多>>摘要：ABSTRACT The climate transition is increasingly acknowledged as a major risk driver for companies, financial institutions, and investors. At the same time, there is widespread confusion about how to best measure climate transition risk, since different measurements lead to significantly different risk profiles. I show empirically that, to date, the two most common proxies for climate transition risk are CO2 and E(SG) score data. I further contribute to the transition risk literature by proposing a comprehensive 10‐category framework, specifically tailored toward assessing climate transition risk proxies. I apply the framework by executing the first category‐led literature review on the quality of both CO2 data and E‐scores as proxies for climate transition risk. I find that both data types are dynamic and strong in terms of granularity as well as usability; but have shortcomings across a multitude of categories: bias, availability, comparability, the backward‐looking nature of the metrics, and transition risk specificity being the most severe issues. I urge scholars to reflect on these shortcomings as they could significantly distort results. As a minimum, scholars should test for the robustness of their results when relying solely on ESG or CO2 data to classify transition risk. Therefore, I propose both within and between transition risk metric robustness tests, which are not yet commonly used in the literature. I close by introducing and discussing alternative proxies for climate transition risk, such as EU taxonomy alignment, sector/technology classifications, or innovative combinations of risk metrics. I argue that scholars should consider these alternatives since they are potentially less biased, more specific to transition risk, comparable, and available. I thereby contribute to a better measurement of companies' transition risk, which is a key prerequisite for accurately managing and correctly pricing climate transition risk.
NETL
NSTL
Wiley