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The purpose of this paper is to investigate whether a firm’s undertaking of a bond IPO influences the monitoring of the private loans granted to the firm by private lenders. If it does, in which direction the monitoring changes?

The author uses both univariate and multivariate analyses to test the hypothesis. For the purposes of this research, the author’s primary data sources are LPC Dealscan, which provides data on private loans; Mergent FISD, which provides data on public bond issues; and the Compustat Industrial Annual Database, which provides the required financial data for the sample firms. The author’s sample covers non-financial US firms for the period of 1991-2010. The author’s final sample consists of nearly 23,000 private loans granted to about 5,500 non-financial US firms.

The major finding of this research is that private lenders increase their degree of monitoring of loans that they extend to a firm after it issues a bond IPO. The results of the two-stage bond IPO anticipation model further strengthen the findings. The evidence suggests that as the firm issues public debt for the first time, private lenders get concerned about the potential increase of agency problems and leverage, and consequently, find it valuable to increase the degree of monitoring of loans. Also, the magnitude of change in monitoring is strongly influenced by the degree of information asymmetry, leverage, profitability, and potential to waste free cash flow.

This paper enhances one’s understanding of the contracting dynamics between private lenders and the firm as it issues in the public debt market. The findings can aid firms anticipate the borrowing conditions they will face if they undertake a bond IPO. Further, the cross-sectional analysis on covenant changes from pre- to post-bond IPO period identifies specific firm characteristics that impact the magnitude of change of covenant intensity and comprehensiveness. As a result, uncertainty regarding post-bond IPO outcomes is reduced for borrowing firms.

The purpose of this paper is to explore the biodiversity and threatened species reporting of the top 150 Fortune Global companies. The paper has two main objectives: to explore the extent to which the top 150 Fortune Global companies disclose information about their biodiversity and species conservation practices, and to explore the effects of biodiversity partners and industry on companies’ biodiversity and threatened species reporting.

The study’s sample is the top 150 Fortune Global companies. Each company’s fiscal year ending 2014 annual report, its 2014 sustainability report, and its company website were content analyzed for evidence of biodiversity and threatened species reporting. This content analysis is supplemented by a detailed analysis that focusses on the sample’s top five reporters, including a phone interview with a senior sustainability manager working at one of these companies. Finally, a regression analysis was conducted to examine the associations between companies’ biodiversity and threatened species reporting and the presence/absence of biodiversity partners and a company’s industry F&C Asset Management industry category.

The reporting on biodiversity and threatened species by the top 150 Fortune Global companies is quite limited. Few companies (less than 15) are providing any substantial reporting. It was further observed that even among the high scoring companies there is a lack of consistent reporting across all index items. A subsequent empirical examination of these companies’ disclosures on biodiversity and threatened species showed a statistically positive association between the amount of reporting and companies’ holding of biodiversity partnerships. It was also observed that firms categorized as red- and green-zone companies made more disclosures on biodiversity and threatened species than amber-zone companies.

This is the first study to systematically analyze corporate disclosures related to threatened species and habitats. While some prior studies have included the concept of biodiversity when analyzing organizations’ environmental disclosures, they have done so by examining it as one general category out of many further categories for investigating organizations’ environmental reporting. In the present study, the focus is on the specific contents of biodiversity disclosures. As such, this study has the twin research objectives of seeking to illuminate the current state of biodiversity and threatened species reporting by the world’s largest multinationals and provide an appreciation for how certain organizational and industry variables serve to influence these reporting practices. These multiple insights offer companies, and potentially regulators, understanding about how to include (or extend) disclosures on biodiversity loss and species under threat of extinction.

The purpose of this paper is to explore the biodiversity reporting practices and trends of the top 50 Australian mining companies before and after the United Nations (UN) declared the period 2011-2020 as the “Decade on Biodiversity”.

Using content analysis and interviews, this study compares the extent and type of biodiversity disclosures made by the Australian Stock Exchange’s top 50 metals and mining companies both before and after the UN’s “Decade on Biodiversity” declaration in 2010.

A significant increase in the amount of biodiversity reporting is observed between the 2010 fiscal year preceding the UN’s declaration and the 2012 and 2013 fiscal years following the declaration. The findings reveal, however, that the extent of biodiversity reporting is quite variable, with some companies showing substantial increases in their biodiversity reporting and others showing modest or no increases. In particular, the larger companies in the sample showed a statistically significant increase in their disclosures on biodiversity in 2013 compared with 2010, while the increase in biodiversity disclosures by smaller companies was not significant. While interviewees spoke about their companies being more open and transparent, the biodiversity information that is being reported would not enable external parties to assess the company’s biodiversity performance.

To minimise an organisation’s use of biodiversity reporting as an impression management tool, it is suggested that biodiversity reporting should be more impact based and organisations should provide a report of their activities and their direct and tangible impacts on short-term and long-term biodiversity in and around their operating sites. A possible limitation of the present study pertains to its focus on companies’ voluntary disclosures made in their annual reports and sustainability reports, as opposed to other possible formal or even informal disclosure mediums.

Australia is one of 17 mega-diverse wildlife countries in the world. Finding ways to support the country’s biodiversity framework and strategy are crucial to this continued status. Due to the mining industry’s significant impact on Australia’s biodiversity, a strong need exists for biodiversity reporting by this industry. Furthermore, this reporting should be provided on a site-by-site basis. At present, the reporting aggregation typically conducted by mining companies produces obscure information that is neither useful for stakeholders who are impacted by the mining companies’ activities nor for policymakers who are vested with responsibility for protecting and sustaining the world’s biodiversity.

This study examines the biodiversity reporting and discourse practices of mining companies in Australia and develops a 50-item biodiversity reporting index to measure the biodiversity reporting practices.

This paper provides a thematic analysis of an IUCN Red-Listed bird, the houbara bustard, which Pakistan uses as a fungible resource to appease its wealthy Arab benefactors.

Thematic analysis of relevant media reports and government ministry and NGO websites comprise the study's data. Media reports were located using Dow Jones' Factiva database.

Pakistan's Ministry of Foreign Affairs issues wealthy Arabs special permits for hunting the houbara bustard as a “soft” foreign diplomacy strategy aimed at propping up the country's fragile economy. Although illegal under international and Pakistan's own wildlife laws, resource dependence theory helps explain how various country-specific issues (e.g. dysfunctional political and judicial systems) enable Pakistan's unlawful exchange of hunting permits for Arab oil and short-term financing. Surrogate accountability and agencement are examined as two means for arresting the bird's trajectory toward extinction.

Media reports comprise the primary data. Pakistani government officials were approached for interviews, but failed to reply. Although unfortunate, the pervasive corruption and mistrust that characterise Pakistan's culture would have likely tainted the responses. For this reason, media reports were always the primary data sought.

The present study extends prior literature by exploring how country context can subvert the transferability of social and political approaches used in developed countries to address environmental accounting issues and challenges. As this study shows, a developing country's economic vulnerability, combined with its dysfunctional political systems, impotent judiciary and feckless regulatory mechanisms, can undermine legislation meant to protect the country's natural environment, in general, and a threatened bird's existence, in particular.

The purpose of this study is to examine the impacts of board gender composition, board independence and the existence of a board sustainability committee on the corporate social and environmental performance of Australian firms.

The dataset comprises 2,188 Australian Securities Exchange listed firm-year observations (407 individual firms) from 2004 to 2015. The ASSET4 environmental, social and governance database is used to measure corporate social and environmental performance and their sub-dimensions.

Our results show that firms with higher board gender composition, greater board independence and sustainability committees tend to have better social and environmental performance. This paper also provides empirical evidence of the positive association of these variables on the sub-dimensions of social and environmental performance. The results are robust after controlling for self-selection and various forms of endogeneity.

This is the first study that examines the relationship between sustainability committees and corporate social and environmental performance in the context of Australia. This study also overcomes the relatively small sample size and shorter study period issues of similar studies in Australia that provide inconclusive evidence on the relationship between each of board gender composition, board independence and corporate social and environmental performance.

This study aims to explore the weightage rendered to corporate social responsibility (CSR) keywords in mission and vision (M&V) statements of public sector enterprises (PSEs) in India.

Analysing the contents of M&V statements of 230 PSEs, this study has the twin research objectives of seeking to illuminate the current use of CSR-related keywords in PSEs’ M&V statements that reflect organisational strategy and provide an understanding for how firm age, industry and firm size variables serve to influence CSR keyword reporting in these statements.

The findings of this study provide evidence that half of the Indian PSEs reported at least one CSR-related keyword in their M&V statements. These public enterprises predominantly use 38 different categories of CSR keywords in their M&V statements. Furthermore, the authors find that environment-related keywords were predominantly used by PSEs in their M&V statements. The results indicate that PSEs’ size and industries are significantly associated with the use of CSR-related keywords in M&V statements, suggesting that bigger PSEs and PSEs in extractive industries (e.g. mining, coal and petroleum) tend to report more CSR-related keywords in their M&V statements.

Findings imply that small public enterprises (those having a low annual turnover) lack CSR focus in their M&V statements. The authors argue that, irrespective of the size of the enterprise, CSR should be an integral part of these PSEs in framing their M&V statements.

This study systematically analyses CSR-related keywords in the M&V statements of all PSEs in India.

The purpose of the chapter is to study peculiarities of formation of “green economy” in Russia and to substantiate the perspectives of its development by technological parks. The “green economy” is just appearing in Russia, as its volume is 4% of GDP as of now, with a downward trend for the recent 10 years. Favorable conditions for the formation of “green economy” are created in technological parks due to the attraction of the necessary volume of investments and increased state regulation. Technological park ‘Sinarsky’, West-Siberian innovational center (Tyumen technological park), and technological park of high-tech of Khanty-Mansi Autonomous Okrug show “green” initiatives. However, their share in the total structure of technological parks of Russia is only 2%. The volume of “green” investments in technological parks of Russia constitutes RUB 0.58 billion, and the volume of “green” production – RUB 9.153 billion, with 3,980 “green” jobs. The developed authors’ concept and the offered practical recommendations allow for the deeper study of the potential of technological parks in the context of the “green economy” in Russia. According to the forecast, their implementation will allow ensuring achievement of the share of “green” technological parks in their structure at the level of 30%, thus increasing the volume of “green” investments in Russia’s technological parks to RUB 7.888 billion: the volume of “green” production to RUB 124.48 billion, and the number of “green” jobs to 54,128. “Green” development of technological parks will allow increasing the volume of “green” economy in Russia by 3.2% until 2025.

The Covid-19 virus badly affected working patterns in almost every sector. The purpose of this paper is to analytically substantiate how work and life integration impacts the exhaustion and work–life balance among employees of academic institutions and IT companies.

Current study is empirical in nature based on the survey of 500 respondents taken from academic (250) and IT companies (250) from Ahmedabad and Gandhinagar, Gujarat. Structural equation modelling (SEM) was used to test the hypothesis with the application of the software Smart-PLS. Two surveys were conducted to collect the data separately for academic institutions and IT organizations.

Findings revealed the facts that during Covid-19, the employee’s work and life integration affected the work–life balance and exhaustion in academic institutions highly. The relationship was positively significant. But, for IT employees, it was identified as non-significant.

The current study highlighted the issues which employees faced during Covid-19 severe spread while managing work and family; how it varied due to the nature of work performed by the employees, for example, academics being more exposed to transformation from offline to complete online mode posed more challenges to teaching staff. This study also disclosed the scenario created and how it was handled in the deadly phase.

This study presents the social contribution in understanding the importance of work and life balance and problems related to it, especially when everyone everywhere is scared of going out. The study provides insight into how it became difficult for employees to maintain their payroll successfully.

The current study contributes to the existing body of knowledge by testing statistically that the integration between work and life is important for work–life balance and prohibiting emotional exhaustion. The current paper extends the theoretical contribution by offering suggestions to companies on why to synchronize positive balance between work and life while keeping boundaries relatively strict between family and work to gain employee well-being and competitive advantages.

Drawing from work-family enrichment (WFE) model and path-goal theory of motivation, this paper proposes and tests work engagement (WE) as a mediator between informal learning and WFE.

Questionnaires measuring informal learning, WE and WFE were filled out by 290 hotel employees in India. The abovementioned linkages were tested via structural equation modeling.

The findings suggest that hotel employees' informal learning fosters their WE and WFE. The findings also reveal that WE partly mediates the impact of informal learning on WFE.

Most of employees' learning efforts in the workplace emerge from informal learning. However, there is still limited information whether employees' informal learning activates their WE, which is a timely and significant topic. Importantly, there is a paucity of evidence appertaining to the effect of informal learning on WFE, which is underrepresented in the current literature. Evidence about the mechanism linking informal learning to WFE is also sparse.