Integrated reporting of environmental,social, and governance and financial data: Does the market value integrated reports?

The concept of reporting nonfinancial information within the annual report, so‐called Integrated Reporting (IR) is a rising topic in reporting practice. Supporters claim that IR provides a better view regarding the value creation of a firm. This study investigates the value relevance of IR and the influence of certain characteristics such as assurance. Thus, this paper contributes to the existing literature by examining the actual advantages for firms when adopting an IR approach. The Ohlson model is applied for the market valuation of 50 companies of the STOXX Europe 50 between the years 2010 and 2016. The results of this study support the cost‐concerned school by showing a negative influence on the market value. Nonetheless, the study suggests that the quality of the reports is relevant for market valuation, as the negative effect is mitigated by the quality of the reports.     

Do environmental,social, and governance activities improve corporate financial performance?

This study investigated the relationship between corporate efficiency and corporate sustainability to determine whether firms concerned about environmental, social, and governance (ESG) issues can also be efficient and profitable. We applied data envelopment analysis to estimate corporate efficiency and investigated the nonlinear relationship between corporate efficiency and ESG disclosure. Evidence shows that corporate transparency regarding ESG information has a positive association with corporate efficiency at the moderate disclosure level, rather than at the high or low disclosure level. Governance information disclosure has the strongest positive linkage with corporate efficiency, followed by social and environmental information disclosure. Moreover, we explored the relationship between particular ESG activities and corporate financial performance (CFP), including corporate efficiency, return on assets, and market value. We found that most of the ESG activities reveal a nonnegative relationship with CFP. These findings may provide evidence about voluntary corporate social responsibility strategy choices for enhancing corporate sustainability.     

Who is more important,parents or children? Economic and environmental factors and health insurance purchase

The existing research indicates that insurance demand is affected by the policyholder’s occupation, family economy, urbanization level, and insurance coverage. Using micro data of insurance purchase at the individual level, this study investigates the influence of economic and environmental factors on the priorities of health insurance purchase decision. The results reveal that the more developed the economy and the more financial knowledge people possess, the more the latter tend to prioritize health insurance for their children. Furthermore, the study investigates the influence of air pollution on the decision to purchase health insurance. If the air pollution level is high, policyholders prioritize obtaining insurance for their children. Our research on the order of insurance purchase indicates that Chinese families have a lack of support from their children, and the function of family pension is gradually weakening. Our research also reveals that families are willing to spend money on the insurance of their children. Therefore, to solve the problem of health and old-age security for the elderly, it is more effective to promote health insurance by considering families as a unit     

Analyzing social media,analyzing the social? A methodological discussion about the demoscopic and predictive potential of social media

Quality & Quantity - The impact of computational technologies and the worldwide use of Internet entails a theoretical and methodological challenge for social scientists, considering the purpose...     

Do board sustainability committees contribute to corporate environmental and social performance? The mediating role of corporate social responsibility strategy

The purpose of this study is to investigate the impact of board sustainability committees on environmental and social performance and to examine the mediating effect of corporate social responsibility (CSR) strategy on the relationship between the presence of board sustainability committees and corporate sustainability performance. Using data of U.K. listed firms for the period of 2009–2016, the study employs panel regression analysis and bootstrapping techniques to test study hypotheses. The results suggest that the presence of a sustainability committee improves the effectiveness of CSR strategies. The results also indicate that firms with effective CSR strategies exhibit better environmental and social performance. Further, the empirical results show that the effectiveness of CSR strategy explains the positive relationship between board sustainability committees and corporate environmental and social performance, thus supporting the theoretical framework of the study. The findings of the study shed new light on this research direction and could be of interest to board members, managers, practitioners, investors, policy makers, and regulators that plan to promote sustainability practices and strategies needed for sustainable development.     

How does stakeholder engagement through environmental,social, and governance affect eco-efficiency and profitability efficiency? Zooming into Apple Inc.'s counterparts

As global ecological degradation intensifies, a trade-off has arisen between environmental protection and production efficiency to achieve sustainable development for the environment, society, and the company itself. However, the potential reverse causality relationship between environmental, social, and governance (ESG) and corporate efficiency may lead to confusion. This study estimates the eco-efficiency of Apple Incorporated's value-chain counterparts in the first stage and creates values and profitability in the second stage of efficiency evaluation. Results obtained from the (i) directional distance function in the two-stage data envelopment analysis (DEA), (ii) additive efficiency decomposition two-stage network DEA model, and (iii) network slacks-based measure model are consistent. That is, Apple counterparts manage more efficient eco-efficiency than profitability efficiency, implying that eco-efficiency is their competitive advantage. We thus also run a regression analysis to examine how the ESG ratings of Apple counterparts explain their eco-efficiency and profitability efficiency. Although the overall ESG rating positively explains the efficiencies, we found that the individual governance rating shows no statistically significant effect. The regression results provide insight for practitioners on the importance of investing in the three aspects of a firm's collective conscientiousness for societal and environmental governance. This paper integrates companies' eco-efficiency and profitability efficiency to resolve the conflict between environmental issues and production efficiency. It also analyzes in depth the effects of ESG and its three individual factors on eco-, profitability, and average efficiencies. The diversity of research methods also provides new ideas for future research related to firm efficiency.     

Have we studied,should we study,and can we study the development of commitment? Methodological issues and the developmental study of work-related commitment

The study of developmental trajectories involves examining how and why a measure or index of behavior changes over time. Within the huge body of work devoted to different forms of work commitment, very little has directly and explicitly addressed developmental issues. Theory suggests that some forms of work commitment develop prior to actual experience of the focus of the commitment (e.g., normative commitment and work ethic). For affective and continuance commitment, however, it has been hypothesized that experience is essential. In most instances, this experience is gained after entry into the work force and, specifically, into an organization. Therefore, understanding how these types of commitment develop and highlighting the factors related to tenure that cause changes in commitment will not only fill a gap in the empirical work and strengthen commitment theory, but will help managers to optimize the commitment of their employees. This paper outlines the current understanding of changes in commitment with time and describes a research method, taken from the developmental psychology literature, that overcomes some of the problems inherent to the approaches most frequently used to imply developmental change in organizational psychology. It concludes with suggestions for future research incorporating this method.     

What factors influence the organizational commitment of public sector employees in China? The role of extrinsic,intrinsic and social rewards

This study investigates the relationship between extrinsic, intrinsic and social rewards, and the organizational commitment of 239 Chinese public sector employees. Hierarchical regression analysis revealed that although variables included to measure extrinsic and social rewards were strongly related to organizational commitment, variables included to measure intrinsic rewards had limited influence. These findings suggest that the antecedents of organizational commitment in the Chinese public sector are significantly different from those in the Chinese private sector and public sector organizations in the West.     

A model of task demands,social structure,and leader–member exchange and their relationship to job satisfaction

In the present study, we examine task demands, leader–member exchange, and social structure in their relationship to job satisfaction. Based on the reflections of Seers and Graen in their dual attachment model, in the present study we combined task demands, leader–member exchange, and social structure in a model of antecedents of job satisfaction. The resulting model was tested using structural equation modelling. While task demands and leader–member exchange are related to their respective equivalents in job satisfaction, social structure is positively related to a latent factor job satisfaction, indicating that the social structure of a job has an impact on different facets of job satisfaction. The results are discussed with respect to sample characteristics.     

Circular economy,the transition of an incumbent focal firm: How to successfully reconcile environmental and economic sustainability?

Circular economy (CE) has garnered increasing attention in political circles and practitioner literature thanks to its potential to overcome the harmful consequences of linear patterns of growth. Nonetheless, the adoption of sustainable practices entails a holistic approach requiring businesses to make significant changes to their production, technologies and stakeholder management. These challenges resulted in limited progress in terms of the practical implementation of CE. This paper addresses the need for more literature focused on the pragmatic aspects of applying this paradigm to incumbent firms. The author presents the journey that Lucart S.p.A., a major European tissue paper manufacturer, has undertaken between 2014 and 2020 to apply CE principles to its practices. Insights from the transformation process, reconstructed through interviews with the firm's management and environmental impact data, suggest that to succeed it takes innovating (plants, products and marketing strategies) and setting up supply chains that reconcile environmental and economic sustainability.     

Why doesn’t downsizing deliver? A multi-level model integrating downsizing,social capital,dynamic capabilities,and firm performance

Firms downsize to improve their bottom line results often in reactive response to negative external shocks, such as economic downturns, but even in proactive efforts to enhance organizational performance when they are financially ‘healthy’, such as restructuring. Research reveals, however, that not only does downsizing generally fail to improve a firm’s financial performance, but that it may even lead to reduced financial performance. To investigate this puzzling outcome, we build on previous research and integrate the concepts of downsizing, social capital, dynamic capabilities and performance in a multi-level model as well as discuss how social capital mediates the relationship between downsizing and dynamic capabilities. Thereafter, we develop (a) four propositions to elucidate how changes to the structural dimension of social capital due to downsizing, i.e. the removal of three key social network positions and changes to the firm’s network structure, negatively mediate the relationship between downsizing and a firm’s dynamic capabilities, and (b) two propositions incorporating internal (knowledge intensity) and external (institutional pressures) contextual variables in our model. We conclude by discussing how our research contributes to the downsizing and SHRM literature as well as the resource-based view and social capital literature before providing suggestions for future research and practitioners.     

Should we worry about the decline of the public corporation? A brief survey of the economics and external effects of the stock market

In recent years, the number of listed companies has been declining in many countries across the world. This paper provides a selective survey of the literature on the real economic effects of the stock market to assess the potential effects of this decline and determine whether it is likely to continue. The leading economic role of the stock market’s primary market, in which firms raise capital by issuing new shares, is to help growing firms secure financing. We discuss providing and certifying information, coordinating investors, and easing the redeployment of capital as the means through which capital allocation can be efficiently achieved. The main economic roles of the stock market’s secondary market, the trade in existing shares, is to provide liquidity to shareholders, to aid in price discovery and to provide diversification opportunities. Positive external effects from an active stock market may arise for consumers, labor and private firms due to increased corporate investment, more socially responsible business strategies and a more positive business climate. Negative external effects on capital allocation and productivity can arise from short-termism, market mispricing, and increased cross-ownership. Local stock markets can spur innovation and foreign direct investment (FDI) and reduce the risk of early cross-border acquisitions. Given the myriad of useful economic functions the stock market performs, a future entirely absent of public companies is difficult to imagine and the decline is therefore likely at some point to come to an end. Whether we need to worry about the decline depends on the relative importance of the positive and negative external effects, a topic we feel warrants more research.     

Can the theory of planned behaviour explain walking to and from school among Australian children? A social marketing formative research study

Evidence indicates that lower levels of obesity among school‐age children can be achieved through active travel to school. This research aimed to investigate the explanatory potential of constructs in the theory of planned behaviour for carers' decisions about their children's walking to and from school. The data from two online surveys of 1,076 carers in 2 Australian states showed that the theory of planned behaviour explained 35.7% of the variance in walking to and from school. The results indicate that higher perceived behavioural control, social norms, and intentions among carers are associated with higher incidence of walking to and from school by children in Australia. Limitations of the current study and future research directions are outlined.     

Is the doctor in? A relational approach to job design and the coordination of work

When designing jobs, the degree of specialization is a key consideration. Though functional specialization allows workers to develop deep areas of expertise, it also increases the challenge of coordinating their work. In this article, we propose the concepts of stage‐ and site‐based specialization and posit that together they can counteract the divisive effects of functional specialization. Taking advantage of a natural experiment in physician job design at a Massachusetts hospital, we explore the impact of stage‐ and site‐based specialization on coordination and performance outcomes. Building on recent interest in relational approaches to job design, this study is the first to link relational job design to relational outcomes such as coordination. Our findings have practical implications for job design in professional service settings such as education, consulting, and health care. © 2008 Wiley Periodicals, Inc.     

How are social origin,destination and mobility linked to physical,mental, and self-rated health? Evidence from the United States

Quality & Quantity - For decades, scholars have been exploring persistent inequalities in health by studying the roles of origin and destination socioeconomic positions (SEP), and the...     

Is what you see what you get? Investigating the relationship between social media content and counterproductive work behaviors,alcohol consumption,and episodic heavy drinking

Abstract

Employers are increasingly using social networking website (SNW) content to screen applicants for employment despite the absence of much empirical support for this practice. The purpose of this study was to examine the validity of using SNW content to predict employee behavior. Specifically, we investigated the relationship between SNW content and counterproductive work behaviors (CWB), occurrence of workplace accidents, alcohol consumption, and episodic heavy drinking. Participants (N = 146 MBA and upper level undergraduate business students) self-reported demographic information and information about workplace counterproductive behavior. Participants also provided access to their SNW profile, which the researchers subsequently accessed in order to assess potentially compromising content. Results indicate SNW profiles are not associated with CWB or involvement in workplace accidents, while SNW profiles containing alcohol and drug content are associated with alcohol consumption and episodic heavy drinking. Our study is among the first to examine the relationship between SNW profile information and CWBs of interest to HRM personnel and provides evidence that practitioners should exercise caution in drawing inferences about workplace behaviors based on SNW profile information.     

Are employees more committed and willing to accept critical assignments during a crisis? A study of organizational commitment,professional commitment and willingness to care during the SARS outbreak in Taiwan

Few researches were involved in investigating the factors of commitment affecting employees' willingness to take critical assignment during a crisis. The severe acute respiratory syndrome (SARS) event provided as a good arena for crisis research. The study focused on the impact of crisis on the employees' willingness to accept critical assignments and the influencing factors of their willingness. This empirical study of willingness is captured by comparing the nurses' willingness to take care of SARS patients during and after 2 years of SARS outbreak and investigating organizational commitment (OC) and professional commitment (PC) as the determinants of their willingness to care under SARS outbreak. Registered nurses were surveyed during (2003) and after (2005) the SARS outbreak. The results showed that crisis does not affect a change on employees' willingness to accept critical assigned jobs. However, the nurses had higher level of desire to stay at the job and lower level of professional identification during the SARS crisis. The determinants of the nurses' willingness to care for SARS patients with pooling data were organizational identification, and particularly willingness to work in extra efforts. To enhance employees' willingness to accept critical assignments during a crisis, improving their level of OC and PC is a direction for the management to work on.