Think Global, Invest Responsible: Why the Private Equity Industry Goes Green

The growth of socially responsible investment (SRI) on public financial markets has drawn considerable academic attention over the last decade. Discarding from the previous literature, this article sets up to analyze the Private Equity channel, which is shown to have the potentiality to foster sustainable practices in unlisted companies. The fast integration of the environmental, social and governance issues by mainstream Private Equity investors is unveiled and appears to have benefited from the maturation of SRI on public financial markets and the impetus of large conventional actors. Hypotheses on the characteristics and drivers of this movement are proposed and tested on a unique database covering the French Private Equity industry in 2011. Empirical findings support that Private Equity socially responsible investing is characterized by investor engagement and strategically driven by a need for new value creation sources, increased risk management and differentiation. In particular, results show that independent funds, which need to attract investors, are more likely than captive funds to develop socially responsible practices. Evolution of the movement and future research paths are proposed.     

The development of a stakeholder-based scale for measuring corporate social responsibility in the banking industry

Research on corporate social responsibility (CSR) has notably increased in recent years and many scales for measuring CSR image have been developed in academic literature. Due to the contextual character recognized in the implementation of CSR strategies, in this paper a new scale based on stakeholder theory is developed to evaluate customers’ perception regarding the CSR performance of their banking service providers. The proposal of reliable measurement tools for evaluating customers’ perception is especially relevant for companies because of their significant role in influencing the design and implementation of corporate strategies. Results demonstrate the reliability and validity of this new scale in two different samples. In the banking industry, CSR includes corporate responsibilities toward customers, shareholders, employees, society, and all legal and ethical requirements of banking institutions. Nevertheless, different kinds of banking institutions have specific CSR images, which reveal different strategic approaches to CSR.     

External organizational commitment among organizational implants: The case of logistics service providers

Using the concept of external organizational commitment (EOC), survey data from 312 logistics service provider (LSP) implants are used to test a model of the determinants of implant level of commitment to their host firm and the consequences of such commitment to the LSP. The results show that both inter-organizational outcome and task interdependence affect implant perceptions of the degree to which they are supported by their host organization. Perceived organizational support by the host organization, in turn, was found to be positively related to implant commitment to their host organization, which was positively related to LSP operation-level performance.     

Research Methods in the Leading Small Business–Entrepreneurship Journals: A Critical Review with Recommendations for Future Research*

Small business and entrepreneurship scholars have made significant progress toward advancing the field and gaining recognition as an important domain of scientific inquiry. However, the authors suggest that a strong methodological foundation built on state‐of‐the‐art research technologies is necessary to support further paradigmatic growth and maturation. Using Chandler and Lyon's study as a benchmark for research methods through the 1990s, the study critiques research methodologies used by small business and entrepreneurship researchers over the ensuing years. The analysis includes all 665 papers published between 2001 and February of 2008 in the Journal of Small Business Management, Journal of Business Venturing, and Entrepreneurship Theory and Practice. The research outlines key methodological issues, assesses recent methodological practice, identifies current trends, and offers recommendations for researchers in adopting existing and emerging research technologies.     

Workplace Spirituality and Business Ethics: Insights from an Eastern Spiritual Tradition

The author extends theory on the relationship between workplace spirituality and business ethics by integrating the “yamas” from yoga, a venerable Eastern spiritual tradition, with existing literature. The yamas are five practices for harmonizing and deepening social connections that can be applied in the workplace. A theoretical framework is developed and two sets of propositions are forwarded. One set emanates from the yamas and another one conjectures relationships between spirituality and business ethics surfaced by the application of these spiritual practices from yoga.     

Guide to the Ethics of Ex Parte Communications

Ex parte communications can become an administrative quagmire for anyone trying to deal with tribunals that regulate business matters. These communications involve contact between a decision maker and one party outside the presence of another, interested party. At a time when codes of ethics are enacted to make corporate financial officers and boards of directors more accountable to their stockholders, and thus, to restore the confidence of the investing public, it appears most important that administrative judges and hearing officers adhere strictly to their own Codes of Conduct. This article defines and explains ex parte contacts and consequent problems that might arise during administrative appeals. It is not the author’s intent to present the law of any specific jurisdiction, but to present a general overview of typical state law in the United States, a market of interest to many entrepreneurs and exporters worldwide.     

Social marketing theory development goals: an agenda to drive change

ABSTRACT

Environmental, health, and social change is complex and frequently is framed as a problem(s) to be solved. This framing focuses effort on delivery of solutions designed to change systemic environmental, health, and social problems. Theory, an organising framework for effort, remains under-utilised in behavioural and social sciences. An individual psychological lens dominates and emphasis is placed on explaining and predicting individual behaviour and not behavioural change. It is time to break free and deliver frameworks that extend focus beyond individuals to all citizens, and apply new evaluation approaches that assess individual and structural changes. Ten Social Marketing Theory Development Goals (goals) categorised in three groups: (i) research design; (ii) building social marketing theory; and (iii) methodological innovation are outlined to assist social marketers to develop new ways of thinking that will deliver the theory and evidence base needed to outline what practitioners and policy makers should do to effect change.     

The Sensitivity of Tests of Asset Pricing Models to the IID-Normal Assumption: Contemporaneous Evidence from the US and UK Stock Markets

Standard tests of asset pricing models are based on the iid -normal assumption. We compare standard test results with those obtained from procedures that do not require iid -normality. Analysing unconditional and conditional asset pricing models, we find that the use of tests that consider departures from the iid -normal assumption affect probability values, sometimes by a considerable amount but that test outcomes are not affected. The results also suggest that issues surrounding the testing of joint hypothesis influence probability values and that the use of appropriate tests may be more important when analysing US data than when analysing UK data.