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This study explores the variance in investor responses to the corporate social responsibility (CSR) performance of firms, as influenced by information sources and investor types.
Abstract
Purpose
This study explores the variance in investor responses to the corporate social responsibility (CSR) performance of firms, as influenced by information sources and investor types.
Design/methodology/approach
This study applies a short-term event study and cross-sectional analysis with unique CSR datasets obtained from newspaper articles and the Dow Jones Sustainability Index.
Findings
Investor reactions are significantly shaped by their sources of information. Individual investors are found to predominantly respond to accessible news announcements, whereas institutional investors show heightened sensitivity to adverse news from both scrutinized sources. Foreign investors, mirroring institutional investors' patterns, uniquely react positively to index additions.
Research limitations/implications
Investors’ assessment of CSR activities varies due to the differing sources of information obtained; further, it is affected by the type of investor.
Practical implications
The findings guide public relation managers in strategizing CSR communication toward diverse investor types. This includes recommending targeted approaches for Japanese individual investors through newspapers and TV, exercising caution in disseminating adverse news to Japanese institutions, and promoting and justifying CSR actions to foreign investors. It underscores the need for a strategic investor relations frameworks that considers accessibility, literacy, and investors' interests.
Originality/value
This study examines the relationship between sources of information for CSR activities and investors’ responses, an area under-represented in the literature. The author uses CSR announcement data, collected from newspapers to make the results more accurate and relevant.
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Keywords
Kari-Pekka Tampio and Harri Haapasalo
The purpose of this paper is to identify the areas and logic of integration of different stakeholders using different methods and to analyse their applicability and challenges in…
Abstract
Purpose
The purpose of this paper is to identify the areas and logic of integration of different stakeholders using different methods and to analyse their applicability and challenges in practical projects. The main aim is to describe how these different methods impact value creation.
Design/methodology/approach
Action design research was carried out in a large hospital construction project where the first author acted as an “involved researcher” and the second author acted as an “outside researcher”. Two workshops were organised to evaluate the direct and indirect challenges and benefits of the applied four methods and to explain how different methods enable value creation.
Findings
All the studied methods provide good results in terms of usability and commitment to the aims of the project, thus delivering the direct benefits expected. Process, people and tools logic works well in this case project when applying the methods properly. Significant evidence was provided on secondary deliverables of the methods, and all analysed methods had a significant impact in the area of leading people, clarifying what “focus on people” means and how it is enabled.
Practical implications
Focus on people can be achieved through different operative methods if applied in the right way. It is necessary to select the most suitable methods based on all the direct and indirect deliverables.
Originality/value
This case project offered a platform to analyse integration methods in a real-life project using the collaborative contract method. The authors were able to participate in the analysis by taking action from the very beginning of the project in terms of training, learning, continuous development and coaching of these methods and evaluating the applicability.
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Keywords
Emmanuel Dele Omopariola, Abimbola Olukemi Windapo, David John Edwards, Clinton Ohis Aigbavboa, Sunday Ukwe-Nya Yakubu and Onimisi Obari
Previous studies have postulated that an advance payment system (APS) positively impacts the contractor's working capital and is paramount to ensuring an efficient and effective…
Abstract
Purpose
Previous studies have postulated that an advance payment system (APS) positively impacts the contractor's working capital and is paramount to ensuring an efficient and effective project cash flow process. However, scant research has been undertaken to empirically establish the cash flow performance and domino effect of APS on project and organisational performance.
Design/methodology/approach
The epistemological design adopted a positivist philosophical stance augmented by deductive reasoning to explore the phenomena under investigation. Primary quantitative data were collected from 504 Construction Industry Development Board (CIDB) registered contractors (within the grade bandings 1–9) in South Africa. A five-point Likert scale was utilised, and subsequent data accrued were analysed using structural equation modelling (SEM).
Findings
Emergent findings reveal that the mandatory use of an APS does not guarantee a positive project cash flow, an improvement in organisational performance or an improvement in project performance.
Practical implications
The ensuing discussion reveals the contributory influence of APS on positive cash flow and organisational performance, although APS implementation alone will not achieve these objectives. Practically, the research accentuates the need for various measures to be concurrently adopted (including APS) towards ensuring a positive project cash flow and improved organisational and project performance.
Originality/value
There is limited empirical research on cash flow performance and the domino effect of APS on project and organisational performance in South Africa, nor indeed, the wider geographical location of Africa as a continent. This study addresses this gap in the prevailing body of knowledge.
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