Search results

This study aims to examine the factors that influence the relationship between sustainability and financial performance (FP) of the European listed companies.

This study analyzed data from 795 companies in 21 European countries by applying linear mixed-effects multilevel regressions, a two steps system generalized method of moments and quantile regression models to uncover the links between sustainability and FP.

The past four decades have witnessed abundant research to determine the relationship between corporate sustainability and FP. Thus, conducting further research in 2023 could be seen as “reinventing the wheel.” Yet, earlier research considered firms as isolated entities with sustainability and FP being dependent only on that firm’s actions. By contrast, with the help of network governance theory, this study shows that a firm’s sustainability and FP depend on an interplay among interorganizational actors, such as institutional qualities, macroeconomic factors and an embrace of sustainability. Here, large firms play an essential role. Three significant findings are drawn. First, sustainability performance has a significant impact on FP in the European context. Second, the institutional quality (IQ) of the rule of law and control of corruption plays a crucial role in enhancing sustainability and FP, and finally the interaction of IQ and economic growth helps to increase companies’ market value (Tobin’s Q). The consistent and empirically robust findings offer key lessons to policymakers and practitioners on the interplay among multiple actors in corporate sustainability and FP.

A synergetic multifaced relationship between governmental institutions and corporations is inevitable for ensuring sustainable development. The degree of intimacy in the relationship, of course, will be determined by the macroeconomic environment.

In this research, this study theoretically and empirically identified that corporate sustainability and FP are not solely dependent on corporate operation. Rather, it is transformed, modified and shaped through an interaction of multiple actors’ trajectories in the macro business environment.

This paper aims to analyze the economic-financial performance (EFP) and value creation (VC) in the Brazilian construction industry.

Based on the theories of strategy and finance, a quantitative-qualitative, descriptive and explanatory and applied study was carried out, contrasting the performance of the Direcional company and the civil construction industry – both listed on the Brazilian Stock Exchange and the Over-the-Counter Market (B3)

The analysis of the EFP in the Brazilian construction industry shows that EZTEC, Helbor, Trisul and Direcional were the companies with the best EFP in the period. The analysis of the Economic Value Added (EVA®, henceforth EVA), as a VC metric and basis for assessing the relative technical efficiency score by Data Envelopment Analysis (DEA®, henceforth DEA), revealed that the companies Direcional, EZTEC, MRV and CR2 were considered efficient throughout the period covered. The multicriteria methodology for empirical testing of the EFP and VC allowed not only contrasts Direcional's results with the other companies of the construction industry but also offered a complementary tool for comparative analysis of enterprises of different sizes, structures and realities.

Regardless of any contextual limitations, from a theoretical point of view, the research not only helps fill the research gap aforementioned but also expands knowledge on the topic and demonstrates how this multi-criteria methodology (integrating DEA and EVA) can be used to assess EFP and VC in addition to traditional tools. However, this new approach evaluates, at the same time, corporate and sectorial effectiveness by contrasting the efficiency and efficacy (simultaneously) in the generation of performance and value of a company in relation to the industry.

Significant implications for managerial practice could be noted by offering a tool to improve company performance and creating a competitive benchmarking process for analysts, investors, managers, financing agencies, shareholders, policymakers and business owners, as well as organizations and sectors in similar situations – who need to assess the EFP and VC holistically and improve their decision-making processes.

The uniqueness and innovation of this research come from the original multi-criteria methodology developed, applied and validated for analysis of EFP and VC. This methodology was operationalized through DEA applied to the companies' EVA, making it possible to compare corporate results and those of the whole industry in a balanced way – an unexplored issue in the literature, especially in emerging economies, opening several avenues for future research.

Este artículo tiene como objetivo analizar el desempeño económico-financiero (DEF) y la creación de valor (CV) en la industria de la construcción brasileña.

Con base en las teorías de estrategia y finanzas, se realizó un estudio cuanti-cualitativo, descriptivo, explicativo y aplicado, contrastando el desempeño de la empresa Direcional y de la industria de la construcción civil, ambas cotizadas en la Bolsa y Mercado Extrabursátil Brasileña (B3).

El análisis de la DEF en la industria de la construcción brasileña muestra que EZTEC, Helbor, Trisul y la Direcional fueron las empresas con el mejor desempeño en el período. El análisis del Valor Económico Agregado (en adelante EVA), como métrica de CV y base para evaluar el puntaje de eficiencia técnica relativa mediante Análisis Envolvente de Datos (en adelante DEA), reveló que las empresas Direcional, EZTEC, MRV y la CR2 se consideraron eficientes durante todo el período cubierto. La metodología multicriterio para pruebas empíricas de la DEF y CV permitió no sólo contrastar los resultados de la Direcional con los de otras empresas del sector de la construcción, sino que también ofreció una herramienta complementaria para el análisis comparativo de empresas de diferentes tamaños, estructuras y realidades.

La singularidad y la innovación de esta investigación provienen de la metodología original multicriterio desarrollada, aplicada y validada para el análisis de DEF y CV. Esta metodología fue operacionalizada a través de DEA aplicado al EVA de las empresas, permitiendo comparar los resultados corporativos y los de toda la industria de manera equilibrada – un tema inexplorado en la literatura, especialmente en las economías emergentes, abriendo varias vías para futuras investigaciones.

Independientemente de las limitaciones contextuales, desde un punto de vista teórico, la investigación no solo ayuda a llenar el vacío mencionado anteriormente, sino que también amplía el conocimiento sobre el tema y demuestra cómo esta metodología multicriterio (integrando DEA y EVA) puede utilizarse para evaluar el DEF y CV además de las herramientas tradicionales. Sin embargo, este nuevo enfoque evalúa, al mismo tiempo, la efectividad corporativa y sectorial contrastando la eficiencia y eficacia (simultáneamente) en la generación de desempeño y valor de una empresa en relación con la industria.

Se podrían observar implicaciones significativas para la práctica gerencial al ofrecer una herramienta para mejorar el desempeño de la empresa y crear un proceso de evaluación comparativa competitivo para analistas, inversionistas, gerentes, agencias financieras, accionistas, formuladores de políticas y propietarios de negocios, así como organizaciones y sectores en situaciones similares, que necesitan evaluar el DEF y el CV de manera integral y mejorar sus procesos de toma de decisiones.

The purpose of this paper is to determine if there is a link between corporate shareholder value creation and economic growth. The first objective of this paper is to determine which specific shareholder value measurement best explains shareholder value creation for a particular industry. The next objective of the study is to establish, for each of nine different categories of firms examined, a set of value drivers that are unique and significant in expressing shareholder value for that particular category of firms. Lastly, the relationship between shareholder value creation and economic growth is tested.

To quantify and measure value creation, the paper investigates the various value creation measurements that are being applied. The next step is to ascertain whether various industries have different value creation measures that best explain value creation for the respective industries. Then, the value drivers of these specific value creation measures can be determined and their relationship with economic growth tested.

The results of this study indicate that each industry does have a specific shareholder value creation measurement that best explains shareholder value creation for that industry; for example, for five of the nine categories (industries) that were analyzed, market value added was found to be the best shareholder value creation measurement, but for capital-intensive firms and manufacturing firms, the Qratio is the best measure, while for the food and beverage industry, the market to book ratio was found to be a better measure of shareholder value creation than other measures tested. It was further found that an increase in corporate shareholder value creation is to the detriment of economic growth.

The contribution of the present study is its determination of a unique shareholder value creation measurement for particular industries. In addition, a specific set of variables per industry that create shareholder value is identified. Lastly, the important link between shareholder value creation and economic growth is exposed.

This paper explores working mothers’ coping strategies concerning paid and unpaid work in Chile and Argentina during the Covid-19 pandemic. The paper aimed to understand the influence of cultural norms on motherhood and neoliberal workplace practices on mothers’ sensemaking processes and coping strategies. This study focuses on mothers living in Chile and Argentina where governments established mandatory lockdowns between March and September 2020. Drawing on the notion of neoliberal motherhood, women’s demands were analyzed when paid work and mothering duties collide in time and space.

Open-ended interviews were conducted with 17 women in Chile and Argentina. All interviewees had at least 1 child below the age of 6 and were working from home during the lockdown.

Neoliberal workplace demands, and disadvantageous government policies greatly heightened the dual burdens of working mothers. Women were expected to fulfill the discourses of the neoliberal worker and the good mother, while also adopting additional strategies in the wake of the lockdown. The data highlights mothers’ strategies to cope with care and work duties by adjusting to new routines involving their partners, relatives and the wider community.

The generalizability of the results is limited by the small sample of 17 interviewees, all from middle to middle-upper class. The changing scenario due to Covid-19 makes the collected data not sufficient to grasp the impact of the pandemic, as during the interviews (December 2020 and January 2021) the process was still ongoing.

Organizations should assess their role in the management of paid and unpaid work for both genders, as the neoliberal discourse views the worker as masculine, full-time, always available and productive, ignoring women’s additional care duties outside of the workplace.

The Covid-19 pandemic provides a unique opportunity to reflect on care work and gender, collective versus individual responses to care and work demands and the idea of organizing.

This study aimed to develop an in-depth understanding of the outcomes of servant leadership at the team and organizational levels. It reviews the relationship between servant leadership and its team- and organizational-level outcomes, and examines the mediation and moderation effect of the relationship. It further identifies the mechanism by which servant leadership is beneficial to the organization.

A systematic literature review is conducted, focused on 52 articles published between 2012 and 2022. Content analysis and descriptive analysis were used to respond to the research questions.

A new conceptual model was developed to better understand the outcomes, mediators and moderators of servant leadership at team and organization level.

Future research should further explore outcomes of servant leadership at team and organizational levels and test how mediators affect the relationship between servant leadership and associated outcomes.

This study provides a framework for leaders on how servant leadership contributes to teams and organizations, and how a leader applies servant leadership.

This systematic review presents a new model that builds on existing research into servant leadership and its impact on team and organizational levels completed in the past decade. To date, there have been no reviews of servant leadership that focus only on outcomes at the team and organizational levels using a widely recognized database.

The purpose is to use co-citation analysis of servant leadership (SL) research to investigate the evolution of the field, its subfields, gaps and opportunities for future research in a systematic manner.

A document co-citation technique and three clustering algorithms (latent semantic index (LSI), the log-likelihood ratio (LLR) and the mutual information (MI) index) were employed to analyse 24,030 references from 549 articles spanning a period of 50 years.

Cluster analyses reveal that SL research consists of eight distinct subfields: (1) conceptualisation and measurement of SL; (2) SL and related theories; (3) methodological foundations and empirical expansion of SL research; (4) individual-level cognitive effects of SL and related theories; (5) “Warmth effects” of leadership behaviour; (6) antecedents of effective leadership; (7) SL, marketing, sales management and ethics and (8) SL, job design and work engagement. Important gaps and opportunities for future research are identified.

The analyses do not show a complete picture of research on SL. Interesting works used by subgroups of SL researchers may not have enough citations to be included in the results. Moreover, bibliometric analyses do not explain the impact of books, journals and articles on the practice of SL. The authors welcome future analyses of the most influential sources of SL practice. The authors expect that managerial and practice-oriented books and journals, such as the International Journal of Servant Leadership and the Servant Leadership Theory and Practice, would play a central role in such analyses.

The discussions of the nature of SL, its effects and antecedents are useful to leaders who want to develop a SL style or assist others in developing it. For researchers and doctoral students, the cluster analyses of co-citations give an overview of the subfields of SL research and reveal important knowledge gaps in the literature.

SL has several favourable effects on the motivation and psychological well-being of followers. Also, followers tend to adopt a willingness to serve.

Previous research has categorised SL research into three broad categories or phases. The cluster analyses of the co-citations reported here reveal a meaningful structure of eight distinct subfields. Knowledge gaps within the subfields represent novel opportunities for future research on SL. The authors also suggest a new subfield of SL research: pedagogical approaches to the motivation and development of SL skills.

This paper aims at explore the intervening role of servant leadership in tourism businesses' outcomes, in the context of travel agencies. Drawing on servant leadership theory, the authors develop a multimediation model exploring the relationships between servant leadership and person–job fit, work–life balance, work engagement, innovative work behavior and job crafting.

Using SmartPLS3, data collected from 942 travel agencies operating in Egypt, a questionnaire was used to obtain data on how travel agency employees envisage their organization’s adoption of servant leadership, person–job fit, job crafting, work–life balance, work engagement and innovative work behavior.

The authors show that servant leadership correlates positively with person–job fit, work–life balance, work engagement, innovative work behavior and job crafting, while job crafting correlates positively with work–life balance, work engagement and innovative work behaviors. The partial mediating roles of both job crafting and person–job fit in the link between servant leadership and work–life balance, and the partial mediating role of work engagement in the link between servant leadership and innovative work behaviors.

Up to date, research on the effects of servant leadership on person–job fit, job crafting, work–life balance, work engagement and innovative work behavior has been inadequate. In terms of contextual applicability, an empirical investigation of the relationship between these factors in travel agencies is not available. By empirically examining these relationships in the context of Egyptian travel agencies, the current study has bridged a gap in the tourism and hospitality literature, human resources management and organizational behavior literature.

本文旨在探讨仆人式领导在旅行社背景下对旅游企业成果的干预作用。借鉴仆人式领导理论, 我们开发了一个多重中介模型, 探索仆人式领导与人-工作契合度、工作-生活平衡、工作投入、创新工作行为和工作重塑之间的关系。

使用 SmartPLS3, 从在埃及运营的 942 家旅行社收集的数据, 使用问卷调查获取有关旅行社员工如何设想他们的组织采用仆人式领导、人-工作匹配、工作重塑、工作与生活平衡、工作参与和和 创新工作行为。

我们表明, 仆人式领导与人-工作契合度、工作-生活平衡、工作投入、创新工作行为和工作重塑呈正相关, 而工作重塑与工作-生活平衡、工作投入和创新工作行为呈正相关。工作重塑和个人-工作在仆人式领导与工作-生活平衡之间的联系中起部分中介作用, 工作投入在仆人式领导与创新工作行为之间的联系中起部分中介作用。

该研究进行了一些开创性的检查。迄今为止, 关于仆人式领导对人-工作契合度、工作重塑、工作-生活平衡、工作投入和创新工作行为的影响的研究还不够充分。就情境适用性而言, 尚无对旅行社中这些因素之间关系的实证研究。通过在埃及旅行社的背景下对这些关系进行实证检验, 当前的研究弥合了旅游和酒店文献、人力资源管理和组织行为文献中的空白。

El objetivo de este artículo es explorar el papel que desempeña el liderazgo de servicio en los resultados de las empresas turísticas, en el contexto de las agencias de viajes. Basándonos en la teoría del liderazgo de servicio, desarrollamos un modelo de mediación múltiple que explora las relaciones entre el liderazgo de servicio y la adecuación de la persona al trabajo, el equilibrio entre el trabajo y la vida personal, el compromiso laboral, el comportamiento laboral innovador y el diseño proactivo del puesto de trabajo.

Con SmartPLS3 se analizaron datos recopilados de 942 agencias de viajes que operan en Egipto mediante un cuestionario con el que se obtuvo información sobre cómo los empleados de agencias de viajes prevén que su organización adopte el liderazgo de servicio, el ajuste persona-trabajo, el diseño proactivo del puesto de trabajo, el equilibrio entre el trabajo y la vida personal, el compromiso laboral y el comportamiento laboral innovador.

Mostramos que el liderazgo de servicio se correlaciona positivamente con el ajuste persona-trabajo, el equilibrio entre el trabajo y la vida personal, el compromiso laboral, el comportamiento laboral innovador y el diseño proactivo del puesto de trabajo, mientras que el diseño del puesto de trabajo se correlaciona positivamente con el equilibrio entre la vida laboral y personal, el compromiso laboral y los comportamientos laborales innovadores. Mostramos también el papel mediador parcial del diseño proactivo del puesto de trabajo y del ajuste persona-trabajo, en el vínculo entre el liderazgo de servicio y el equilibrio entre el trabajo y la vida personal, asi como el papel mediador parcial del compromiso laboral en el vínculo entre el liderazgo de servicio y los comportamientos laborales innovadores.

Hasta la fecha, la investigación sobre los efectos del liderazgo de servicio en la adecuación de la persona al trabajo, el diseño proactivo del puesto de trabajo, el equilibrio entre el trabajo y la vida personal, el compromiso laboral y el comportamiento laboral innovador ha sido insuficiente. En términos de aplicabilidad contextual, no se disponía de una investigación empírica de la relación entre estos factores en las agencias de viajes. Al examinar empíricamente estas relaciones en el contexto de las agencias de viajes egipcias, el presente estudio cubre un vacío en la literatura sobre turismo y hostelería, gestión de recursos humanos y comportamiento organizacional.

The purpose of this paper is to examine the relationship between servant leadership, employee innovative behavior and knowledge employee performance in knowledge-based firms.

A quantitative approach was used to conduct the present study. The respondents were sampled from knowledge-based firms in Iran. Overall, 726 knowledge employees in 121 firms were selected using convenience sampling. A confirmatory factor analysis was conducted to ascertain the validity and reliability of the observed items, and a structural equation model was employed for testing the hypotheses.

In the studied firms, servant leadership has a significant effect on employee innovative behavior. Moreover, the findings of this study show that firms that enhance their employees’ innovative behavior have higher knowledge employee performance.

The study was conducted in knowledge-based firms in Iran. Therefore, our conclusions may not be applicable to other countries. Future studies should be carried out with samples from other contexts.

We found that servant leadership is conducive to employee innovative behaviors, and this effect leads to high knowledge employee performance. Accordingly, knowledge-based firms’ leaders should encourage employees’ innovative behavior through stimulating employee thriving at work, supporting employees’ development and empowering them with decision-making discretion.

This study contributes to advance research on servant leadership literature by linking servant leadership to knowledge employee performance in knowledge-based firms through employee innovative behavior as a mediator.

This study aims to characterize the properties of natural cellulose fiber from the pseudo-stems of the curcuma zedoaria plant.

The fiber was extracted using the biological retting process (cold-water retting). The intrinsic fiber properties obtained were used to evaluate the possibility of using fiber for textile applications.

The average length of a curcuma zedoaria fiber was 34.77 cm with a fineness value of 6.72 Tex. A bundle of curcuma zedoaria fibers was comprised of many elementary fibers. Curcuma zedoaria had an irregular cross-section, with the lumen having a varied oval shape. Curcuma zedoaria fibers had tenacity and elongation value of 3.32 gf/denier and 6.95%, respectively. Curcuma zedoaria fibers had a coefficient of friction value of 0.46. Curcuma zedoaria fibers belong to a hygroscopic fiber type with a moisture regain value of 10.29%.

Extraction and Characterization of Curcuma zedoaria Pseudo-stems Fibers for Textile Application.

This study aims to investigate the social and affective impacts of inviting residents of a socially divided, post-war city to “play tourist” for a day, exploring their own backyards with a new intentionality and perspective.

This qualitative research within a transformative worldview uses a creative, place-based approach of role-playing based upon principles of participatory action research.

While each tour was unique, participants’ insights reflected three common themes: shifts in observations and perceptions of place arising from the intentionality of the “tourist” lens, a sense of freedom created by the touristic research opportunity, and the varying abilities of tourism experiences to help build empathy or awareness in a post-conflict setting.

The inventive research approach allows for a unique examination of local tourism-styled explorations, a subject of growing interest that has largely been overlooked in literature, while paying special attention to ways in which a history of conflict may manifest in contemporary urban tourism experiences.