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Content available
Book part
Publication date: 9 November 2023

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Macroeconomic Risk and Growth in the Southeast Asian Countries: Insight from Indonesia
Type: Book
ISBN: 978-1-83797-043-8

Content available
Book part
Publication date: 9 November 2023

Abstract

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Macroeconomic Risk and Growth in the Southeast Asian Countries: Insight from SEA
Type: Book
ISBN: 978-1-83797-285-2

Content available
Book part
Publication date: 9 November 2023

Abstract

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Modeling Economic Growth in Contemporary Poland
Type: Book
ISBN: 978-1-83753-655-9

Article
Publication date: 4 April 2024

Fabian Maximilian Johannes Teichmann, Chiara Wittmann, Sonia Ruxandra Boticiu and Bruno Sergio S Sergi

The purpose of this paper is to examine the influence that the occurrence of greenwashing has on the consumer perception of corporate social responsibility (CSR).

Abstract

Purpose

The purpose of this paper is to examine the influence that the occurrence of greenwashing has on the consumer perception of corporate social responsibility (CSR).

Design/methodology/approach

This paper observed the market indication that a consistent undermining of authentic commitment to CSR taints consumer perception. Investigating how the motivations behind greenwashing contribute to the presentation of CSR was the first means of examining the market forces. Consumer orientation was used as a guiding principle to consider the short- and long-term perspective of a greenwasher.

Findings

Individual instances of greenwashing contribute to a collective deterioration of marketplace trust in the promises of CSR. The negative influence on CSR is not isolated to the greenwashing perpetrator but casts a wider effect. The consequences of greenwashing are not isolated but widely dispersed.

Originality/value

Whilst much of the literature focuses on the stigmatisation of individual firms, it is crucial to note how marketplace trust is eroded. In addition, the perception of CSR-related regulations is for example influenced but rarely recognised as a consequence of greenwashing behaviour.

Details

Journal of Financial Crime, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1359-0790

Keywords

Article
Publication date: 22 May 2023

Fabian Maximilian Johannes Teichmann, Sonia Ruxandra Boticiu and Bruno S. Sergi

This study aims to review the current EU approach to regulating crypto assets. It highlights the key points, opportunities and risks of the MiCA regulation, which is designed to…

Abstract

Purpose

This study aims to review the current EU approach to regulating crypto assets. It highlights the key points, opportunities and risks of the MiCA regulation, which is designed to provide a comprehensive regulatory framework for digital assets in the EU.

Design/methodology/approach

To do so, the authors extensively reviewed the literature and reports from several advisory and watchdog bodies and international organizations.

Findings

Although MiCA is an ambitious piece of legislation, there are still many unresolved issues and questions that the new regulation raises. Controversially several items have also been excluded from the MiCA regulations, including decentralized finance, non-fungible tokens unless they qualify under the existing cryptocurrency categories, as well as central bank digital currencies.

Originality/value

This study also addresses the Liechtenstein Token Act Regulation, which is considered to have served as a model for the EU MiCA Directive and the regulation of cryptocurrencies at the European level.

Details

Journal of Money Laundering Control, vol. 27 no. 2
Type: Research Article
ISSN: 1368-5201

Keywords

Article
Publication date: 27 July 2022

Fabian Teichmann, Sonia Ruxandra Boticiu and Bruno S. Sergi

This study aims to illustrate how bribery and fake news in Eastern European countries can affect businesses across Europe. Countries such as Romania, Bulgaria, Slovenia and…

Abstract

Purpose

This study aims to illustrate how bribery and fake news in Eastern European countries can affect businesses across Europe. Countries such as Romania, Bulgaria, Slovenia and Hungary represent sizeable and potential markets. Thanks to their European Union membership and low labor costs, these markets could offer many investment opportunities to international managers. Consequently, this study focuses on the challenge of corruption encountered by international managers and the necessary precautions before committing financial resources to these countries.

Design/methodology/approach

For this study, 10 informal interviews with presumed providers of illegal services were used to investigate the previously unexplored innovative research question. Informal interviews were conducted with individuals who can be assumed to have experience or knowledge in the field of corruption in multinational corporations.

Findings

The results show the potential impact of corruption on international managers in Eastern Europe.

Originality/value

This study contributes to the literature by examining two forms of corruption: bribing journalists to publish fake news to harm commercial rivals and bribing public officials to manufacture legal proceedings against business competitors. The following will also highlight how a corrupt judicial system can have implications abroad and what problems this may raise for mutual legal assistance.

Details

Journal of Financial Crime, vol. 30 no. 6
Type: Research Article
ISSN: 1359-0790

Keywords

Open Access
Article
Publication date: 6 October 2023

Ijaz Ur Rehman, Faisal Shahzad, Muhammad Abdullah Hanif, Ameena Arshad and Bruno S. Sergi

This study aims to empirically examine the influence of financial constraints on firm carbon emissions. In addition to the role of financial constraints in firm-level carbon…

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Abstract

Purpose

This study aims to empirically examine the influence of financial constraints on firm carbon emissions. In addition to the role of financial constraints in firm-level carbon emissions, this study also examines this influence in the presence of governance, environmental orientation and firm-level attributes.

Design/methodology/approach

Using pooled ordinary least square, this study examines the impact of financial constraints on firm-level carbon emissions using a panel of 1,536 US firm-year observations from 2008 to 2019. This study also used two-step generalized method of moment–based dynamic panel data and two-stage least square approaches to address potential endogeneity. The results are robust to endogeneity and collinearity issues.

Findings

The results suggest that financial constraints enhance the carbon emissions of the firms. The economic significance of financial constraints on carbon emissions is more pronounced for the firms that do not report environment-related expenditure investment and those that are highly leveraged. The authors further document that firms with a nondiverse gender board signify a statistically significant impact of financial constraints on carbon emissions. These results are also economically significant, as one standard deviation increase in financial constraints is associated with a 3.340% increase in carbon emissions at the firm level.

Research limitations/implications

Some implicit and explicit factors like corporate emissions policy and culture may condition the relationship of financial constraints with carbon emissions. Therefore, it would be worthwhile to consider these factors for future research. In addition, it is beneficial to identify the thresholds and/or quantiles at which financial constraints may significantly make a difference in enhancing carbon emissions.

Practical implications

The findings offer policy implications for investment in stakeholder engagement for capital acquisitions, thereby effectively enforcing environmental innovation and leading to a reduction in carbon emissions.

Originality/value

This study integrated governance and environment-oriented variables in the model to empirically examine the role of financial constraints on the carbon emissions of the firms in the USA over and above what has already been documented in the earlier literature.

Details

Social Responsibility Journal, vol. 20 no. 4
Type: Research Article
ISSN: 1747-1117

Keywords

Content available
Book part
Publication date: 8 April 2024

Abstract

Details

Modeling Economic Growth in Contemporary Czechia
Type: Book
ISBN: 978-1-83753-841-6

Book part
Publication date: 9 November 2023

Alyta Shabrina Zusryn, Muhammad Rofi and Rizqi Umar Al Hashfi

Environmental, social, and governance (ESG) issues have recently received much attention. This research investigates the daily performance of socially responsible investment…

Abstract

Environmental, social, and governance (ESG) issues have recently received much attention. This research investigates the daily performance of socially responsible investment (SRI). To do that, the authors construct portfolios consisting of the SRI, non-SRI, and matched non-SRI. The portfolios can be compared with the market benchmark based on α adjusted asset pricing models. Due to using high-frequency data, the authors use ARCH/GARCH to deal with time-varying volatility. Moreover, the authors also utilized Fama–MacBeth pooled regression to confront the SRI stocks and the non-SRI counterpart. In sum, the findings of this study confirm the superior performance of the value-weighted (VW) SRI portfolio against the market. On a head-to-head basis, the SRI yields a higher return than the non-SRI. The results are robust in the quarterly analysis. It is essential for investors that put their money in socially responsible (SR) portfolios to either promote sustainable development or chase a return on it.

Details

Macroeconomic Risk and Growth in the Southeast Asian Countries: Insight from Indonesia
Type: Book
ISBN: 978-1-83797-043-8

Keywords

Book part
Publication date: 9 November 2023

St. Ibrah Mustafa Kamal and Eduardus Tandelilin

The first alternative is to enrich shareholding by management. The basic theory of this research is the agency theory. This study aims to examine the institutional ownership…

Abstract

The first alternative is to enrich shareholding by management. The basic theory of this research is the agency theory. This study aims to examine the institutional ownership, dividend policy, debt policy, and risk that are interconnected directly or indirectly. The research sample was a non-financial company from 2010 to 2014. Four variables will be tested using Two-stage Least Square (2SLS) in the SPSS application. The result of this study represents the overall interdependency relationship among institutional ownership, dividend policy, debt policy, and risk. The research outcome signifies an interdependency relation for endogenous variables, even if some exogenous variables have no significant relation. In addition, the effects of substitution between institutional ownership and dividend policy, debt policy and dividend policy, and institutional ownership and risk. Meanwhile, institutional ownership and dividend policy, risk and dividend policy, and risk and debt policy have no substitution effect.

Details

Macroeconomic Risk and Growth in the Southeast Asian Countries: Insight from SEA
Type: Book
ISBN: 978-1-83797-285-2

Keywords

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