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Unlike other types of corporate disclosure, corporate political disclosure (CPD), which is the disclosure of corporate political contributions and the related governing policies and oversight mechanisms, does not provide completely new information to stakeholders. Some of the information disclosed in CPD is available from other public records (e.g. the Federal Election Committee website or OpenSecrets website). Given this unique feature of CPD, it is interesting to investigate the cost and benefit tradeoff for firms of altering their CPD practice in response to policy and political uncertainty.

This study employs recently developed indexes of aggregate economic policy uncertainty (EPU) and a novel dataset of CPD transparency to examine the impact of EPU on CPD transparency and how the proprietary cost of corporate political activities moderates this association. The sample consists of S&P 500 companies from the 2012 to 2019 period.

The authors document that firms mitigate the heightened information asymmetry associated with higher aggregate EPU by increasing CPD transparency. The positive association between EPU and CPD is less pronounced for firms that are more sensitive to EPU, for firms that more actively manage EPU through corporate political contributions or lobbying activities and for firms that are followed by more analysts. The authors also find that more transparent CPD helps to mitigate the information asymmetry caused by heightened EPU. This study’s results hold when the authors control for other types of voluntary corporate disclosure.

This study contributes to the emerging literature on the determinants of CPD transparency by identifying EPU's positive impact on CPD transparency. This study also provides empirical evidence that the proprietary costs arising from the controversial nature of corporate political activities dampen firms' incentives to provide transparent CPD in response to heightened EPU, and that information on corporate political activities gathered and processed by financial analysts seems to lower the marginal benefit to companies of publicizing CPD on their own website.

Pre-construction of a project comprises stages that are pivotal for the procurement performance. It is defined as the duration from the project's initiation to construction. However, Private Public Partnerships (PPPs) have been subjected to a long pre-construction, thereby leading to an inefficient development process. Therefore, the purpose of this paper is to pay attention to the influencing factors elongating the pre-construction duration.

Based on data of 5,677 PPP projects between 2009 and 2021 in China, the authors adopt the Accelerated Failure Time (AFT) model in duration analysis to empirically analyze the following underlying dynamics determining the duration of PPP pre-construction stages: (1) policy uncertainty; (2) corruption; and (3) procurement method selection. To observe the influencing paths more specifically, the authors divided the pre-construction duration into the pre-tendering period and tendering period and regressed them separately.

The results indicate that the pre-construction duration is significantly prolonged with increased policy uncertainty and corruption degree as well as the use of tendering methods. Meanwhile, the above factors have a greater impact on the pre-tendering period than the tendering period.

The contribution of this study is twofold: (1) theoretically, this paper provides new evidence on the impact of PPP policy uncertainty, corruption and procurement method selection on the pre-construction duration. It complements empirical studies on the factors elongating the time efficiency of PPPs projects. (2) In practice, it provides a specific path for the government to improve the time efficiency of PPPs.

This study aims to explore the effects of long-term orientation (LTO) and strategy formation mode on corporate social responsibility. While many researchers have investigated how large businesses address corporate social responsibility (CSR), there is little empirical evidence on how small- and medium-sized businesses implement CSR or what individual drivers shape this process.

The paper surveyed 282 small and medium-sized managers from the United Kingdom. The respondents were recruited using platform Prolific Academic.

The findings reveal that LTO is a prerequisite for developing CSR and shapes strategy formation mode. The findings also suggested that deliberate strategies are positively related to CSR. The results are consistent across different components of LTO (futurity, continuity and perseverance) and CSR types (internal and external).

The results show that all aspects of LTO are relevant for CSR in SMEs. Besides LTO, deliberate strategy formation model is an important factor contributing to CSR. The paper presents as first an empirical contribution to the strategy literature by examining positive relationship between LTO and deliberate strategy formation mode.

The migration of physicians is a global interest, causing imbalances between developed and developing countries. Romania is one of Europe's major providers of physicians, not because there is a surplus, but because physicians are drawn to places with better living and working conditions. Medicine in Romania is increasingly highly advanced, and Romanian physicians are well appreciated all over the world. Despite being one of the countries with the most medical graduates in the world, Romania is suffering a doctor exodus. After joining the EU, the problem of physician migration became widespread, resulting in a deficient and inefficient healthcare system. Therefore, the purpose of this study is to estimate the losses registered by Romania because of physicians' decision to migrate.

These losses were calculated in two ways: utilizing the statistical life value and the amount of money invested in training a medical graduate.

According to the findings, the losses in 2018 were 104.16 million euros, approximately 0.12% of GDP.

The originality of this paper consists in data, being provided by the College of Physicians from Romania and the method used, this study being the only one that estimates the cost of Romanian physicians' migration. The paper adds to existing knowledge an empirical results regarding quantifying the value reflecting the departure of physicians, using value of statistical life and the amount of money invested in preparing a medical graduate.