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Article
Publication date: 3 October 2019

Pornanong Budsaratragoon and Boonlert Jitmaneeroj

The purpose of this study is to investigate the causal interrelations among the four pillars of corporate sustainability, which indicate a firm’s contribution to…

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Abstract

Purpose

The purpose of this study is to investigate the causal interrelations among the four pillars of corporate sustainability, which indicate a firm’s contribution to environmental, social, governance and economic activities. Moreover, this study identifies the critical drivers of corporate sustainability by focusing on the levels of market developments and geographical regions.

Design/methodology/approach

Based on corporate sustainability data of 2,725 global companies in 2016, this study uses a combination of analytical techniques including cluster analysis, data mining, partial least square path modeling and importance performance map analysis.

Findings

This study finds that companies in European developed markets exhibit the highest-ranking of corporate sustainability. In line with the social impact hypothesis, environmental, social and governance performance positively affects economic performance. Moreover, there is strong evidence of causal relationships and synergistic effects among the four pillars of corporate sustainability. In accordance with the institutional theory, the patterns of causal directions and the critical pillars depend on levels of market developments and geographical regions. Overall, social and environmental pillars are among the most critical drivers of corporate sustainability.

Research limitations/implications

The methodology does not aim to provide a new weighting scheme for calculating the corporate sustainability index.

Practical implications

Corporate managers should consider sustainability practices in all dimensions to benefit from synergistic effects among environmental, social, governance and economic activities. Furthermore, corporate sustainability strategies should not be generalized across countries with different levels of market developments and geographical regions.

Originality/value

This study prioritizes environmental, social, governance and economic pillars of corporate sustainability in emerging and developed markets across geographical regions.

Details

Measuring Business Excellence, vol. 23 no. 3
Type: Research Article
ISSN: 1368-3047

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Book part
Publication date: 11 May 2007

Michael Shalev

The difficulties that MR poses for comparativists were anticipated 40 years ago in Sidney Verba's essay “Some Dilemmas of Comparative Research”, in which he called for a…

Abstract

The difficulties that MR poses for comparativists were anticipated 40 years ago in Sidney Verba's essay “Some Dilemmas of Comparative Research”, in which he called for a “disciplined configurative approach…based on general rules, but on complicated combinations of them” (Verba, 1967, p. 115). Charles Ragin's (1987) book The Comparative Method eloquently spelled out the mismatch between MR and causal explanation in comparative research. At the most basic level, like most other methods of multivariate statistical analysis MR works by rendering the cases invisible, treating them simply as the source of a set of empirical observations on dependent and independent variables. However, even when scholars embrace the analytical purpose of generalizing about relationships between variables, as opposed to dwelling on specific differences between entities with proper names, the cases of interest in comparative political economy are limited in number and occupy a bounded universe.2 They are thus both knowable and manageable. Consequently, retaining named cases in the analysis is an efficient way of conveying information and letting readers evaluate it.3 Moreover, in practice most producers and consumers of comparative political economy are intrinsically interested in specific cases. Why not cater to this interest by keeping our cases visible?

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Capitalisms Compared
Type: Book
ISBN: 978-1-84950-414-0

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Article
Publication date: 6 September 2016

Elisabeth E. Bennett and Rochell R. McWhorter

The purpose of this paper is to explore the role of qualitative research in causality, with particular emphasis on process causality. In one paper, it is not possible to…

Abstract

Purpose

The purpose of this paper is to explore the role of qualitative research in causality, with particular emphasis on process causality. In one paper, it is not possible to discuss all the issues of causality, but the aim is to provide useful ways of thinking about causality and qualitative research. Specifically, a brief overview of the regularity theory of causation is provided, qualitative research characteristics and ontological and epistemological views that serve as a potential conceptual frame to resolve some tensions between quantitative and qualitative work are discussed and causal processes are explored. This paper offers a definition and a model of process causality and then presents findings from an exploratory study that advanced the discussion beyond the conceptual frame.

Design/methodology/approach

This paper first conceptually frames process causality within qualitative research and then discusses results from an exploratory study that involved reviewing literature and interviewing expert researchers. The exploratory study conducted involved analyzing multiple years of literature in two top human resource development (HRD) journals and also exploratory expert interviews. The study was guided by the research question: How might qualitative research inform causal inferences in HRD? This study used a basic qualitative approach that sought insight through inductive analysis within the focus of this study.

Findings

The exploratory study found that triangulation, context, thick description and process research questions are important elements of qualitative studies that can improve research that involves causal relationships. Specifically, qualitative studies provide both depth of data collection and descriptive write-up that provide clues to cause-and-effect relationships that support or refute theory.

Research limitations/implications

A major conclusion of this study is that qualitative research plays a critical role in causal inference, albeit an understated one, when one takes an enlarged philosophical view of causality. Equating causality solely with variance theory associated with quantitative research leaves causal processes locked in a metaphoric black box between cause and effect, whereas qualitative research opens up the processes and mechanisms contained within the box.

Originality/value

This paper reframed the discussion about causality to include both the logic of quantitative studies and qualitative studies to demonstrate a more holistic view of causality and to demonstrate the value of qualitative research for causal inference. Process causality in qualitative research is added to the mix of techniques and theories found in the larger discussion of causality in HRD.

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European Journal of Training and Development, vol. 40 no. 8/9
Type: Research Article
ISSN: 2046-9012

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Article
Publication date: 1 January 1993

Yoram Neumann and Edith F. Neumann

Examines the relationships between five components of students′quality of learning experience (resources, content, learningflexibility, student‐faculty contact, and…

Abstract

Examines the relationships between five components of students′ quality of learning experience (resources, content, learning flexibility, student‐faculty contact, and involvement) and four criteria of college outcomes (students′ satisfaction with their college experience, perceived performance in college, commitment to their college and students′ grades). The major findings of this study indicate that students′ involvement and learning flexibility are the dominant predictors of all four students′ college outcomes, whereas resources and content are the weakest predictors. In addition, quality of learning experience indicators are effective predictors of students′ satisfaction with their college experience (R⊃2 = 0.27) and grades (R⊃2 = 0.20). Discusses the implications of these findings.

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International Journal of Educational Management, vol. 7 no. 1
Type: Research Article
ISSN: 0951-354X

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Article
Publication date: 28 October 2021

Kim Hiang Liow and Jeongseop Song

With growing interdependence between financial markets, the goal of this paper is to examine the dynamic interdependence between corporate equity and public real estate…

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Abstract

Purpose

With growing interdependence between financial markets, the goal of this paper is to examine the dynamic interdependence between corporate equity and public real estate markets for the USA and a select group of seven European developed economies under a cross-country framework in crisis and boom market conditions. Dynamic interdependence is related to four measures of market linkages of “correlation, spillover, connectedness and causality”.

Design/methodology/approach

This study adopts a four-step investigation. The authors first estimate “time-varying variance–covariance spillovers and implied correlations” modeled with the bivariate BEKK-MGARCH methods. Second, the methods of Diebold and Yilmaz (2012, 2014) measure the conditional volatility spillover-connectedness effects across the corporate equity and public real estate markets based on a decomposition of the forecast error variance. Third, the authors implement nonlinear bivariate and multivariate causality tests to understand the lead-lag dynamics of the two asset markets' returns, volatilities and net directional volatility connectedness across different sample periods. Finally, the authors conclude the study by providing a portfolio hedging analysis.

Findings

The authors find that corporate equity and public real estate are moderately interdependent to the extent that their diversification benefits increases in the longer term. Moreover, the authors find increased corporate equity-public real estate causal dependence of the market groups of the European and international portfolios during the GFC and INTERCRISIS periods. The nonlinear causality test findings indicate that the joint information of asset markets can be a useful source of prediction for future innovation of market risks. Additionally, policy makers may also be able to employ conditional volatility and volatility connectedness as two other measures to manage market stability in the cross-asset market dependence during highly volatile periods.

Research limitations/implications

One major take away from this academic research is since international portfolio investors are not only concerned the long-term price relationship but also the correlation structure and volatility spillover-connectedness, the conditional BEKK modeling, generalized risk connectedness analysis and nonlinear causal dependence explorations from this multi-country study can shed fresh light on the nature of market interdependence and magnitude of volatility connectedness effects in a multi-portfolio framework.

Practical implications

The hedging performance analysis for portfolio diversification and risk management indicates that industrial stocks (“pure” equities) are valuable assets that can improve the hedging performance of a well-diversified corporate equity-public real estate portfolio during crisis periods. For policymakers, the findings provide important information about the nature of causal links and predictability during the crisis and asset-market boom periods. They can then equip with this information to manage and coordinate market stability in cross corporate equity-real estate relationships effectively.

Originality/value

Although traditional research has in general reported at least a moderate degree of relationship between the two asset markets, investors' knowledge of stock-public real estate market linkage is somewhat inadequate and confine mostly to broad stocks (i.e. stocks that are exposed to public real estate influence) in a single-country context. In this paper, the authors examine the interdependence dynamics in a multi-country (multi-portfolio) context. A clear understanding their changing market relationships in a multi-country context is of crucial importance for portfolio investors, financial institutions and policy makers. Moreover, since the authors use an orthogonal stock market index, the authors allow global investors to understand the potential diversification benefits from stock markets that are beyond the public real estate market under different market conditions.

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Journal of European Real Estate Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1753-9269

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Book part
Publication date: 14 July 2014

Roberto M. Fernandez and Roman V. Galperin

Recent labor market research has called into question whether social capital effects are causal, or are spuriously due to the influence of social homophily. This essay…

Abstract

Recent labor market research has called into question whether social capital effects are causal, or are spuriously due to the influence of social homophily. This essay adopts the demand-side perspective of organizations to examine the causal status of social capital. In contrast with supply-side approaches, we argue that homophily is a key mechanism by which organizations derive social capital. We develop an approach to bolster inferences about the causal status of social capital, and illustrate these ideas using data from a retail bank.

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Contemporary Perspectives on Organizational Social Networks
Type: Book
ISBN: 978-1-78350-751-1

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Article
Publication date: 12 December 2017

Jiaojiao Fan, Xin Li, Qinghua Shi and Chi-Wei Su

The purpose of this paper is to examine the causal relationship between Chinese housing and stock markets. The authors discuss the three transmission mechanisms between…

Abstract

Purpose

The purpose of this paper is to examine the causal relationship between Chinese housing and stock markets. The authors discuss the three transmission mechanisms between the two markets: wealth effect, modern portfolio theory and credit-price effect. Moreover, the authors focus on the effects of inflation on the relationship between the two markets.

Design/methodology/approach

This paper uses wavelet analysis to test the housing and stock markets relationship both in the frequency domain and time domain.

Findings

The empirical results indicate that housing prices have a positive effect on stock prices, and these have the same effect on housing prices. Moreover, this positive effect means that stock prices have a wealth effect on housing prices and these have a credit-price effect on stock prices.

Research limitations/implications

These results provide information to financial institutions and individual investors in China to assist them in constructing investment portfolios within these two asset markets.

Originality/value

The authors first use wavelet analysis to analyze Chinese housing and stock markets and to provide information both on the frequency domain and time domain. Moreover, the authors take the inflation factor as a control variable in the causal relationship between the housing and stock markets.

Details

China Finance Review International, vol. 8 no. 1
Type: Research Article
ISSN: 2044-1398

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Article
Publication date: 22 September 2020

Christine Lai-Bennejean and Lauren Beitelspacher

This study aims to investigate an under-researched area, the impact of causal attributions (i.e. causal stability and company-related/-unrelated attributions) on…

Abstract

Purpose

This study aims to investigate an under-researched area, the impact of causal attributions (i.e. causal stability and company-related/-unrelated attributions) on salespeople’s job satisfaction following their performance appraisal.

Design/methodology/approach

A pre-test and a between-subjects experimental study test the effect of accurate or biased perceptions of causal attributions on salespeople’s job satisfaction. Data collected from 209 salespeople provide evidence that they make perceptual attribution errors in their appraisals of the performance outcome they achieve or do not achieve.

Findings

When salespeople correctly attribute their performance, causal stability affects their job satisfaction. However, company-related attributions affect their satisfaction only in the case of a poor performance outcome. As expected, salespeople who make biased attributions experience misattributed or “unwarranted” satisfaction or dissatisfaction, a higher or lower satisfaction level than they would have experienced had they made proper causal attributions.

Research limitations/implications

Using Weiner’s theory of emotion and motivation as a theoretical framework, this study confirms that cognitive appraisals of event outcomes (in this case performance reviews) impacts salespeople’s emotional experience. Furthermore, causal ascriptions following the salesperson’s performance appraisal affect job satisfaction.

Practical implications

This study discusses how managers can ensure the continued satisfaction of their salespeople, which constitutes a stable source of motivation, by understanding their performance attributions.

Originality/value

This study introduces a new concept of misattributed job satisfaction or dissatisfaction. While anecdotally some scholars have investigated when salespeople play “the blame game”, this study shows how salespeople correctly or incorrectly ascribe blame for the outcomes and the impact on job satisfaction.

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Article
Publication date: 27 September 2019

Ping Wang, Kathryn Marley, John Joseph Vogt and Joan Mileski

The purpose of this paper is to investigate the contingency effects that contextual factors of a networked service environment have on the phased Lean Six Sigma (LSS…

Abstract

Purpose

The purpose of this paper is to investigate the contingency effects that contextual factors of a networked service environment have on the phased Lean Six Sigma (LSS) implementation frameworks.

Design/methodology/approach

This paper employs the critical realism (CR) case study research methodology to examine the contingent and causal relationships between contextual configurations of business networks, the DMAIC or PDCA phases in an LSS implementation agenda, and business management functions. The authors conducted a single case study on the basis of challenges they met in kicking off lean transportation in the Port of Houston.

Findings

The key finding from the study is a mid-range theory regarding the contingency effects of contextual factors of service business networks on the phased LSS implementation frameworks. The authors found that when there are complexity and dynamics of contextual factors at the field layer, management should focus more on tasks in early LSS phases to emphasize influencing. When there is no centralized authority in the network and the value-system is loosely coupled, management needs to execute more tasks as described in the define, measure and analyze phases with the purpose of both influencing and orchestrating. When individual actors have goals not aligned well with the goal of the business network and have unmatched operations capabilities, these factors should be considered as early as possible in these LSS phases. When a business network has complicated business processes with high unpredictability and uncertainty and individual actors’ value-creation systems are not well embedded in the entire value-creation system, PDCA will be the preferred core structure of an LSS implementation agenda.

Research limitations/implications

This study contributes to the LSS research stream by introducing a causal/contingency model that prescribes the contingency effects of three contextual configurations on LSS implementation. It also contributes to the emerging discipline, business network management, regarding how to use LSS frameworks in strategic planning. It also contributes to the CR school of problem-driven case study by using a strategic initiative framework as a platform and each phase in the framework as a unit. This conceptualization of the entity of interest helps explore the interactions among three theoretical constructs: contextual configurations, phased LSS implementation agenda and management functions.

Practical implications

Managerial implications of this study are twofold. One is the procedure of analyzing the impacts of contextual factors on the causal relationships between LSS implementation phases and network management functions. The entire procedure represents the agenda-setting process of LSS implementation, the most daunting and challenging managerial task in LSS projects. Another one is the guideline on how to determine whether DMAIC or PDCA is appropriate for the LSS agenda when used in a networked environment.

Originality/value

This paper would serve as an excellent resource for both academicians and LSS practitioners in initiating, orchestrating and managing an LSS project in a networked service environment. This study represents the first effort to explore the impact of contextual factors of business networks on lean transformation.

Details

International Journal of Quality & Reliability Management, vol. 37 no. 5
Type: Research Article
ISSN: 0265-671X

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Book part
Publication date: 15 December 2015

Dan Weltmann, Joseph R. Blasi and Douglas L. Kruse

Past research has found employee ownership to be linked to better attitudes and behaviors. We investigate three possible mechanisms: (a) a selection effect – employees who…

Abstract

Past research has found employee ownership to be linked to better attitudes and behaviors. We investigate three possible mechanisms: (a) a selection effect – employees who buy stock in their own company may have better attitudes to begin with; (b) a status effect – employees who have any amount of employee ownership may have better attitudes; and (c) a size of stake effect – employee attitudes and behaviors may be influenced by the size of their employee ownership stake. We used a rich database of over 40,000 employee surveys from one large multinational company and 13 other companies. We find some support for all three mechanisms. Selection effects are indicated by several positive relationships between attitudes and stock that is bought by the employees rather than being granted by the employer. Status and size of stake effects are indicated by several positive relationships between attitudes and stock that is granted by the employer, particularly when the employee ownership is accompanied by high-performance work policies. While dividing employee ownership into bought or granted stock sheds light on the selection issue, the data are cross-sectional so selection and causality cannot be firmly established. There is need for further research on selection versus causality in examining the effects of employee ownership. The results indicate that companies may improve employee attitudes and behaviors of people by granting them stock and by having opportunities for employees to purchase stock. Even the results pointing to selection effects, however, can be important for companies, since offering stock ownership opportunities to employees may be an effective way to identify which employees are most committed to the firm and are likely to become good corporate citizens.

Details

Advances in the Economic Analysis of Participatory & Labor-Managed Firms
Type: Book
ISBN: 978-1-78560-379-2

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