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1 – 10 of 13Giuseppe Valenza, Marco Balzano, Mario Tani and Andrea Caputo
This paper aims to contribute to the scientific debate concerning the impact of equity crowdfunding on the performance of crowdfunded firms after campaigning. To this aim, the…
Abstract
Purpose
This paper aims to contribute to the scientific debate concerning the impact of equity crowdfunding on the performance of crowdfunded firms after campaigning. To this aim, the purpose of this paper is to investigate the relationship between the characteristics of the campaign and the subsequent firm innovativeness.
Design/methodology/approach
This study adopts a quantitative research approach to evaluate if the entrepreneurial choices affecting the characteristics of the equity crowdfunding campaigns have an impact on the post-campaign firm innovativeness.
Findings
The results of the models show that the campaign characteristics have a direct impact on the firm innovativeness, both in terms of offering and communication and the campaign performance.
Originality/value
This paper presents one of the first studies to investigate the relationship between the choice of campaign characteristics and the post-campaign firm innovativeness. As such, the study contributes to both the literature concerning start-up innovation and the literature about the impact of equity crowdfunding.
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Alan Bandeira Pinheiro, Graziela Bizin Panza, Nicolas Lazzaretti Berhorst, Ana Maria Machado Toaldo and Andréa Paula Segatto
This study aims to investigate the effect of innovation on environmental, social and governance (ESG) performance and, consequently, its influence on the economic and financial…
Abstract
Purpose
This study aims to investigate the effect of innovation on environmental, social and governance (ESG) performance and, consequently, its influence on the economic and financial performance of companies.
Design/methodology/approach
A quantitative and descriptive research was carried out based on secondary data from the Refinitiv Eikon® database, using the panel data regression technique, considering the constructs: innovation, ESG performance and economic and financial performance.
Findings
The results showed that companies that tend to invest more financial resources in R&D are more likely to have higher ESG performance. In addition, companies that have higher ESG performance tend to have higher economic and financial performance.
Practical implications
Managers may consider investing more resources in R&D to achieve superior ESG performance. They should be aware that ESG is a strategic tool for creating financial and nonfinancial value for the organization. More than the traditional preparation of a financial report, stakeholders demand another type of information: ESG information.
Originality/value
The results confirm the basis of Stakeholder Theory, showing that the companies that meet the needs of all stakeholders tend to have greater economic and financial performance. ESG practices can include keeping employees motivated to work, improved corporate image in the eyes of customers, more satisfied suppliers and community and environment aligned with management. Therefore, these ESG initiatives are instrumental in protecting organizational objectives as well as increasing shareholder value.
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Alan Bandeira Pinheiro, Joina Ijuniclair Arruda Silva dos Santos, Ana Paula Mussi Szabo Cherobim and Andréa Paula Segatto
This study aimed to investigate the role of the country's institutional quality on the environmental, social and governance (ESG) performance of its companies.
Abstract
Purpose
This study aimed to investigate the role of the country's institutional quality on the environmental, social and governance (ESG) performance of its companies.
Design/methodology/approach
Over a four-year period (2016–2019), the study examined the ESG performance of 412 organizations situated in 19 countries. ESG performance was the dependent variable, and the independent variables were rule of law, economic freedom, education index and international trade freedom. These factors described the institutional quality of countries in the authors’ study.
Findings
The findings reveal that institutional quality has a major impact on ESG performance. Companies engage in more ESG practices when they operate in countries with greater economic freedom and international trade freedom. The authors corroborated the core assumption of institutional theory (IT), which argues that organizational behavior is determined by the country's institutional setting.
Research limitations/implications
The findings, like all research, should be interpreted with caution. The authors’ research focused solely on large energy corporations. As a result, the conclusions cannot be applied to small companies or other industries. ESG performance can also be measured using different datasets.
Practical implications
If managers want their companies to perform better in terms of ESG, the authors recommend that they form a CSR committee and sign the Global Compact. This study may be valuable to international policymakers because they can underline that greater economic freedom, better education and greater international trade freedom all promote higher ESG performance.
Originality/value
To the best of the authors' knowledge, nearly all of research explores the relationship between ESG and financial performance. As a result, this study built on past research by investigating how national aspects affect corporate ESG performance.
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Ružica Brečić, Dubravka Sinčić Ćorić, Andrea Lučić, Matthew Gorton and Jelena Filipović
An intention-behavior gap often occurs for socially responsible consumption, where despite positive consumer attitudes, sales remain disappointing. This paper aims to test the…
Abstract
Purpose
An intention-behavior gap often occurs for socially responsible consumption, where despite positive consumer attitudes, sales remain disappointing. This paper aims to test the ability of in-store priming to increase sales of local foods vis-à-vis imported, cheaper equivalents.
Design/methodology/approach
Laboratory and field experiments in three countries (Croatia, Slovenia and Serbia), working with an international grocery retailer, assess the ability of textual and pictorial-based point of sale (PoS) materials to increase the purchase of local foods. Field sales data, for the purchase of local apples and cherries and their imported equivalents, are complemented by an analysis of loyalty card transactions.
Findings
Field data indicate that both pictorial and textual PoS materials, significantly increase the likelihood of purchasing local foods, against cheaper imported equivalents. Pictorial PoS materials appear more effective than textual equivalents. Laboratory study data indicate that PoS materials increase the salience of goal consistent mechanisms in decision-making at the expense of mechanisms to achieve non-primed goals.
Research limitations/implications
The field experiment lasted for only two weeks and focused on seasonal produce.
Practical implications
PoS materials offer a low cost intervention for modifying consumer behavior in stores.
Originality/value
The paper develops a theory regarding how priming works and its application in a supermarket setting. This is investigated and validated in the context of local foods. The study offers encouragement for the usefulness of other in-store primes, such as relating to diet, to improve socially desirable outcomes without economic incentives or coercion and in a cost-effective manner.
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Mariah R. Jenkins, Sara K. McBride, Meredith Morgoch and Hollie Smith
The 2019 Global Assessment Report on Disaster Risk Reduction (GAR) cites earthquakes as the most damaging natural hazard globally, causing billions of dollars of damage and…
Abstract
Purpose
The 2019 Global Assessment Report on Disaster Risk Reduction (GAR) cites earthquakes as the most damaging natural hazard globally, causing billions of dollars of damage and killing thousands of people. Earthquakes have the potential to drastically impact physical, social and economic landscapes; to reduce this risk, earthquake early warning (EEW) systems have been developed. However, these technical EEW systems do not operate in a vacuum; the inequities in social systems, along with the needs of diverse populations, must be considered when developing these systems and their associated communication campaigns.
Design/methodology/approach
This article reviews aspects of social vulnerability as they relate to ShakeAlert, the EEW system for the USA. The authors identified two theories (relationship management theory and mute group theory) to inform self-reflective questions for agencies managing campaigns for EEW systems, which can assist in the development of more inclusive communication practices. Finally, the authors suggest this work contributes to important conversations about diversity, equity and inclusion (DEI) issues within early warning systems and earthquake preparedness campaigns in general.
Findings
To increase inclusivity, Macnamara (2012) argues that self-reflective questioning while analyzing perspective, philosophy and approaches for a campaign can help. Specific to EEW campaigns, developers may find self-reflective questions a useful approach to increase inclusion. These questions are guided by two theories and are explored in the paper.
Research limitations/implications
Several research limitations exist. First, this work explores two theories to develop a combined theoretical model for self-reflective questions. Further research is required to determine if this approach and the combination of these two theories have adequately informed the development of the reflective questions.
Originality/value
The authors could find little peer-reviewed work examining DEI for EEW systems, and ShakeAlert in particular. While articles on early warning systems exist that explore aspects of this, EEW and ShakeAlert, with its very limited time frames for warnings, creates unique challenges.
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This paper analyzes the role that the climate change concern (CCCi) has on the willingness to accept an environmental tax. The author aims to grasp how individual general tax…
Abstract
Purpose
This paper analyzes the role that the climate change concern (CCCi) has on the willingness to accept an environmental tax. The author aims to grasp how individual general tax preferences can differ with respect to the specific (environmental) tax. He focuses attention to the Italian case since it has been argued that the potential acceptability of a carbon tax in Italy is relatively high, and this topic has been scarcely explored so far among Italian citizens (Rotaris and Danielis, 2019).
Design/methodology/approach
The author conducted an online survey among 514 Italian economics students.
Findings
The CCCi positively influences the environmental tax morale (ETMi). The general tax morale (TMi) positively affects the specific (environmental) TMi. The CCCi alters individual tax preferences. The author evidenced that also subjects with low TMi turned out to be willing to pay an environmental tax if aware of the environmental issues.
Research limitations/implications
Although the author used a common methodology in this strand of research, he is aware that in an online survey individuals can be influenced by the self-reporting and hypothetical choice bias (see Swamy et al., 2001), that in turn can characterize their reported preferences. Moreover, even if economics university students are commonly used as a subject pool in experimental economics settings, and although several studies showed that the behavioral responses of students are largely the same as those of nonstudents in identical experiments (for a discussion see Alm, 2012; Choo et al., 2016), there is awareness that in this case, they are not taxpayers yet (Barabas and Jerit, 2010).
Practical implications
The author’s results remark the importance of increasing climate change awareness among people to let them be more willing to pay the environmental tax, for instance through investments in sensibilization campaigns on the importance of energy source usage and climate-related topic. Then, an increase in the general TMi leads to an increase in the specific (environmental) TMi. The author’s evidence showed that people with high tax morale logically recognize the positive impact of paying an environmental tax when the CCCi increases, since the more the theme becomes important, the larger the willingness to pay the specific tax. For this reason, policymakers should carry on campaigns to increase the general level of TMi to increase the overall tax compliance level and the relative tax revenues, following the guidelines given by the Organisation for Economic Co-operation and Development (2019) to support taxpayer education programs, such as including TMi research and analysis into education programs, improving the ease of paying taxes or strengthening revenue–expenditure links to build the social contract.
Social implications
It should be paramount to increase awareness about environmental topics among people in general and among those who are relatively tax immoral. The author’s results remark on the importance of targeting energy and environmental tax policies to groups rather than to individuals. According to this evidence, we support the use of nonmonetary tools to nudge people in the environmental transition by changing their behavior in energy use, for instance through the taxation on fuel and other nonrenewable energy resources.
Originality/value
It is the first empirical study that analyzes the impact of CCCi on the environmental TMi in Italy, in particular controlling for the role of the general willingness to pay taxes (TMi). To obtain individual attitudes toward tax payment, most of the empirical studies in behavioral economics employ international surveys. For studies across citizens living in European countries, the European Social Survey (ESS) and European Values Study (EVS) represent the most used ones (see, for instance, Martinez-Vazquez and Torgler (2009) in Spain; Torgler and Werner (2005) in Germany; Nemore and Morone (2019) in Italy). However, these surveys do not allow to study the relationship between the environmental and general TMi across the same subject pool. In fact, despite the ESS (2016) provides individual responses about the willingness to pay an environmental tax, it does not provide information about the general individual attitude toward tax payment (this information is contained only in the ESS wave of 2004, hence referring to a different subject pool). On the contrary, each wave of the EVS (i.e. 2008, 2017) provides information about the general individual attitude toward tax payment, but this survey does not provide a question regarding the willingness to pay an environmental tax. Therefore, to obtain information about the willingness to pay both general and environmental taxes, across the same subject pool, it is needed to carry out a survey.
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Omar Hassan Ali Nada and Zsuzsanna Győri
The aim of this study is to evaluate the adoption and quality of integrated reports in the European Union (EU).
Abstract
Purpose
The aim of this study is to evaluate the adoption and quality of integrated reports in the European Union (EU).
Design/methodology/approach
The sample consists of 147 listed firms from the 18 EU countries during 2013–2020. This study creates a disclosure index – based on the balanced scorecard (BSC) that reflects the information content of integrated reports. The content analysis method is used to measure the integrated reporting quality (IRQ).
Findings
The findings demonstrate that the IRQ increased across the study’s time frame, going from 49.3% in 2013 to 77% in 2020. Furthermore, financial disclosures still get the most attention in the integrated reporting (IR), followed by learning and growth perspective disclosures. In addition, businesses in the financial and industrial sectors rely more on integrated reports. However, the utility sector has the highest IRQ score. By country, Spain has the highest rate of IR adoption, followed by France. Other countries, such as Austria and Hungary, have only implemented IR by one company each.
Research limitations/implications
This study adds to the IR literature a new approach to measure IRQ by linking BSC with the IR framework. Empirically, businesses of any size can use this method to assess the degree of balance between the revealed financial and nonfinancial information in their reports.
Practical implications
Empirically, this study helps IR practitioners in determining how widely IR is used in Europe and in updating the database on the IR website. It helps them update and improve the IR framework by identifying the elements that have the least transparency and quality, investigating the causes and enhancing them.
Originality/value
To the best of the authors’ knowledge, this study is the first to examine the IRQ in EU countries by linking the BSC with IR elements. This is to split the elements into their own pillars, making it easier to track disclosure and evaluate the corporations’ interest in revealing these perspectives, on their own and collectively.
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