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This paper examine whether social performance moderates the linkage between financial risk and financial performance in microfinance institutions (MFIs). The study focuses on the financial self-sufficiency and long-term sustainability of MFIs.

The empirical study uses unbalanced panel data of 2,694 worldwide MFIs from 2009 to 2019. In the first step, the study inspects the impact of social performance and risk on financial performance, proxied as return on assets and operational self-sufficiency. In the second stage, moderated hierarchical regression is applied to test whether social performance moderates the relationship between risk and financial performance. Lastly, the study confirms the significant moderation effects with slope tests.

The study detects robust evidence that financial risk is negatively related to financial performance. Though social performance exhibits a weak positive link with financial performance in silos, the evidence of its moderating effects on risk is mixed and significant. Social performance indicators, such as the borrower retention rate and female representation, positively moderate the relationship between financial risk and financial performance. The study documents that social performance impacts financial performance and operational self-sufficiency through risk moderation. Thus, social performance fosters the sustainability of these institutions over the long haul.

The study is relevant to academics and theorists to consider the stakeholder approach in microfinancing. In the context of stakeholder theory, the study advances the specific social responsiveness process, namely stakeholder engagement.

The evidence that socially sensitive operations can curtail the adverse effects of credit risks on financial performance signify the required attention to social performance. For MFI managers and practitioners, the findings justify the business case for social performance. Stakeholder engagement, under the auspices of social responsiveness, acts as a risk-mitigation mechanism to eventually foster financial performance and self-sufficiency.

The study motivates MFIs to do more for their stakeholders and society by highlighting the benefits of social performance.

The study reaffirms that social performance remains at the epicenter of the MFIs' mission and is an essential risk mitigation mechanism. The study adds to the extant literature on stakeholder engagement and its effects on MFIs.

With the increasing use of social media in operation and supply chain management (OSCM), it is of great importance for managers to consider risks in advance and take precautions against the risks that might arise from social media usage among supply chain members. The aim of this research is to identify and evaluate the risks related to the use of social media in OSCM.

An initial research of the literature revealed that there is no detailed risk categorization in this area. Current taxonomies on the business risks of social media usage were examined and integrated with classifications identified in a Delphi study. The authors empirically demonstrate how the determined risks are prioritized and how decision-makers may decide to manage risks effectively based on the analytical hierarchy process (AHP) method.

The findings of the research showed that reputation-associated risks such as criticism, language and loss of confidence should be prioritized over human, content and technical-associated risks.

To date, a comprehensive approach to determine risks arising from using social media in OSCM is missing. With the Delphi and AHP techniques, the authors provide a novel insight for managers to mitigate risks. The outcomes of this study may assist executives in achieving successful management of social media usage in OSCM. Besides, the proposed AHP model may provide guidelines and direction in this regard.

This study aims to explore the relationship between firm risk, capital structure, cost of equity capital and social and environmental sustainability during the COVID-19 pandemic for companies listed on Tehran Stock Exchange.

To this aim, the information about 190 companies in 2014–2020 was retrieved to be analyzed. The total risk and systematic risk were used as the indicators of company risk; the industry-adjusted earnings price ratio (IndEP) and GORDON were used for the cost of equity capital. To measure social sustainability and environmental sustainability, the procedure suggested by Arianpoor and Salehi (2020) was used.

Underleveraged firms have had a lower total risk during the COVID-19 pandemic, while overleveraged firms have not had a higher risk during this time. In overleveraged firms, using systematic risk has a negative impact on social sustainability during the COVID-19 pandemic. In overleveraged firms, using total risk and systematic risk has a significant negative impact on environmental sustainability in the pandemic. Besides, overleveraged firms have a lower cost of equity capital (IndEP) during COVID-19.

To the best of the authors’ knowledge, no similar study has so far examined the joint impact of COVID-19 and corporate risk on social and environmental sustainability and also the joint impact of COVID-19 and capital structure on the cost of equity. This study contributes to the related literature by providing corporations with insightful post-pandemic directions on capital structure decisions and social and environmental activities. Furthermore, this research and the relevant findings can help understand and develop social responsibility in Iran as a developing country.

The purpose of this study is to investigate the moderating role of honesty-humility of financial managers on aggressive financial reporting behavior.

To test the research hypotheses, a scenario-based questionnaire taken from Brink et al. (2018) was used. Using a cross-sectional survey design, the authors collected primary data of 160 financial managers of firms in Iran using structured questionnaires. The research sample selected was based on Cohen et al.’s (2000) table. To test the research hypotheses, analysis of variance was used.

The results showed that increasing honesty-humility of financial managers decreases the impact of social pressure and risk appetite interaction on aggressive financial reporting. In addition, the results of further analysis showed that reducing the honesty-humility of financial managers increases the impact of risk appetite on aggressive financial reporting. Moreover, the results indicate that reducing the honesty-humility of financial managers increases the impact of social pressure on aggressive financial reporting.

This finding provides significant evidence for auditor, managers and policymakers in Iran. Policymakers, auditor and company managers can emphasize compliance with the code of ethics, internal control and corporate governance to increase ethics and reduce negative economic consequences.

To the best of the authors’ knowledge, this is the first case in an emerging economy to survey the moderating role of honesty-humility of financial managers on aggressive financial reporting behavior. Also, this study contributes to understanding how factors at the individual, social and organizational level combine to influence financial managers’ aggressive financial reporting behavior.

This study aims to use geographical information on social media for public opinion risk identification during a crisis.

This study constructs a double-layer network that associates the online public opinion with geographical information. In the double-layer network, Gaussian process regression is used to train the prediction model for geographical locations. Second, cross-space information flow is described using local government data availability and regional internet development indicators. Finally, the structural characteristics and information flow of the double-layer network are explored to capture public opinion risks in a fine-grained manner. This study used the early stages of the COVID-19 outbreak for validation analyses, and it collected more than 90,000 pieces of public opinion data from microblogs.

In the early stages of the COVID-19 outbreak, the double-layer network exhibited a radiating state, and the information dissemination was more dependent on the nodes with higher in-degree. Moreover, the double-layer network structure showed geographical differences. The risk contagion was more significant in areas where information flow was prominent, but the influence of nodes was reduced.

Public opinion risk identification that incorporates geographical scenarios contributes to enhanced situational awareness. This study not only effectively extends geographical information on social media, but also provides valuable insights for accurately responding to public opinion.

The purpose of this paper is to explore two financial inclusion measures adopted within the local welfare context of the city of Milan, Italy, examining their functioning and underpinning representations. The aim is also to understand how such representations take concrete shape in the practices of local actors, and their implications for the opportunities and constraints regarding individuals' effective inclusion. To this end, this paper takes a wide-ranging look at the interplay between the rise of financial inclusion and the individualisation and responsibilisation models informing welfare policies, within the broader context of financialisation processes overall.

This paper draws on the sociology of public action approach and provides a qualitative analysis of two case studies, a social microcredit service and a financial education programme, based on direct observation and semi-structured interviews conducted with key policy actors.

This paper sheds light on the rationale behind two financial inclusion services and illustrates how the instruments involved incorporate and tend to reproduce, individualising logics that reduce the problem of financial exclusion, and the social and economic vulnerability which underlies it, to a matter of personal responsibility, thus fuelling depoliticising tendencies in public action. It also discusses the contradictions underlying financial inclusion instruments, showing how local actors negotiate views and strategies on the problems to be addressed.

The paper makes an original contribution to the field of sociology and social policy by focusing on two under-researched instruments of financial inclusion and improving understanding of the finance-welfare state nexus and of the contradictions underpinning attempts at financial inclusion of the most vulnerable.

Recycling is associated with positive social and environmental impact, but previous studies have overlooked the cost of recycling operations. Based on the dynamic capability view, the purpose of this study was to identify and evaluate risk factors and resilience strategies within the recycling industry, prioritize these factors and identify the optimal combination of resilience strategies and risk factors to improve market performance.

The research questions were addressed in three subsequent studies. In Study 1, qualitative interviews were conducted to identify risk factors and strategies to mitigate those risks. In Study 2, quality function deployment methodologies were implemented via case studies derived from three different companies. Based on the results of Studies 1 and 2, in addition to the use of fuzzy set qualitative comparative analysis, Study 3 aimed to determine the optimal combination of risk factors and strategies impacting market performance.

The results across the three studies revealed a number of risk factors as well as which risk factors and resilience strategies have the greatest impact on market performance. Specifically, it was found that higher levels of readiness, response and recovery strategies lead to greater market performance, whereas weak readiness, response and recovery strategies, along with low societal, environmental and health and safety risk factors, significantly inhibit performance.

This research extends current understandings of market performance in relation to recycling industry management and offers insight for decision-makers toward combating significant risk factors in business-to-business settings.

The substantial expansion of technology and the efficacy of digital platforms in reaching young audiences have led to enhanced targeting and customization of promotional communications. Notwithstanding the expansion and efficacy of contemporary advertising platforms, scholarly attention has not kept pace with this domain of inquiry. This study aims to assess the antecedents of Google Shopping Ads (GSA) on intention to purchase behavior among the Generation Y and Z cohorts.

The current study used a quantitative approach and snowball sampling technique to gather primary data via a questionnaire and Google Forms, which resulted in the collection of 5,808 questionnaires among the cohort members. A principal component analysis and multigroup confirmatory multigroup structural equation modeling (between Generation Y and Z) were used to assess the research data and model.

The results show positive trust and perceived value associations with intention to purchase, particularly among Generation Y and Z consumers. The findings also show negative irritation, product risk and time risk associations with intention to purchase, especially among the Generation Y cohort, which indicates that young consumers generally do not observe perceived risk due to the usage of GSA.

GSA will continue to grow and become an increasingly important integrated marketing communications tool as the digital landscape develops. It can be concluded that young consumers show a high degree of perceived value and low levels of perceived risk due to the use of GSA. This study, therefore, promotes improved understanding among academics, marketers and businesses of search engine advertising among young cohorts of consumers (Generation Y and Z) in a developing country context.

The study focuses on drug safety regulation capture, reveals the inner mechanism and evolutionary characteristics of drug safety regulation capture and provides suggestions for effective regulation by pharmacovigilance.

The article introduces prospect theory into the game strategy analysis of drug safety events, constructs a benefit perception matrix based on psychological perception and analyzes the risk selection strategies and constraints on stable outcomes for both drug companies and drug regulatory authorities. Moreover, simulation was used to analyze the choice of results of different parameters on the game strategy.

The results found that the system does not have a stable equilibrium strategy under the role of cognitive psychology. The risk transfer coefficient, penalty cost, risk loss, regulatory benefit, regulatory success probability and risk discount coefficient directly acted in the direction of system evolution toward the system stable strategy. There is a critical effect on the behavioral strategies of drug manufacturers and drug supervisors, which exceeds a certain intensity before the behavioral strategies in repeated games tend to stabilize.

In this article, the authors constructed the perceived benefit matrix through the prospect value function to analyze the behavioral evolution game strategies of drug companies and FDA in the regulatory process, and to evaluate the evolution law of each factor.

Corporate Social Responsibility (CSR) reporting has been widely accepted as a vital tool for communicating with stakeholders on a range of social, environmental, and governance issues, but how companies define, interpret, apply, integrate, and communicate their CSR efforts and impacts in corporate reporting is anything but a straightforward task. The purpose of this chapter is to explore the concept of materiality in CSR reporting and demonstrate practical examples of good CSR and Sustainable Development Goals (SDGs) reporting practices. We chose the aviation industry because of its economic relevance, constant growth, and future expected changes in the aftermath of COVID-19. In addition, airlines affect many of the SDGs directly and indirectly with contending results. This chapter is timely because of the growing willingness by companies to integrate CSR and environmental, social, and governance (ESG) thinking into the corporate strategy and business operations using materiality assessment and enhancing their competitive advantage and ability to maintain long-term value and because ESG and ethical investing have become part of the mainstream investing. Thus, this chapter contributes to an understanding of the wide range of existing and new reporting frameworks and regulations and reinforces the importance of discussing how this diversity of approaches can affect the work toward worldwide comparability of CSR and sustainability reporting.