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The purpose of this study is to explore Generation Z (Gen Z) consumers’ sustainable consumption behaviors at a university campus by examining various antecedent and moderating influencers of their sustainable consumption behaviors.

A quantitative research methodology is used in this study. A structured questionnaire was administered (n = 279) to young college students (Gen Z consumers in the context of this study) enrolled at a large state university in the USA. The structural equation model was used to test the hypothesized relationships in the conceptualized model.

Study findings show that social responsibility (feelings, engagement and expectations) and external incentives (material and social) positively influence Gen Z consumers’ sustainability interests, which in turn influences their sustainable consumption behaviors (actions). Collectivist cultural values did not appear to have any statistically significant effect on Gen Z consumers’ sustainable consumption interests. Moreover, learned helplessness, perceived barriers and the awareness of the consequences of sustainability consumption actions did not have any significant moderating effect on Gen Z consumers’ sustainable consumption behavior.

The questionnaire was only sent to students majoring in business degrees, which may limit the generalizability of this study to broader Gen Z consumer populations. Expanding this study to include non-business students may be valuable as a next step. Replicating this study in different cultural environments of international countries could enhance the relationships identified in this study.

Consumer social responsibility education along with material and social incentives will encourage Gen Z consumers’ participation in sustainable behaviors at college campuses.

This research provides valuable insights into understanding the importance of consumer social responsibility and external incentives in influencing Gen Z consumers’ sustainable consumption intentions and behaviors. Accordingly, consumer social responsibility education and incentive programs need to be developed to encourage the participation of Gen Z consumers in sustainable consumption.

The purpose of this paper is to focus on the removal of copper(II) ions from aqueous model salt solution by using chitosan-coated magnetite nanoparticles.

The chitosan-coated magnetite nanoparticles were characterized using X-ray diffraction, scanning electron microscopy, Fourier transform infrared spectroscopy and thermogravimetric differential thermal analysis. The adsorption of Cu(II) by using magnetite nanoparticles as an adsorbent was investigated under different adsorption conditions. The parameters studied were contact time, adsorbent dose and initial concentrations.

The sorption capacities of prepared samples were studied for the removal of Cu²⁺ ions from aqueous model solutions with varying experimental conditions of the initial metal concentration, contact time and dosage. It is found that the removal percent of Cu²⁺ ions increases with an increase in initial metal concentration, contact time and amount of dosage.

Based on the obtained results, this study recommends that chitosan-coated magnetite nanoparticles can also be applied for removal of some heavy metal ions and/or organic compounds in aqueous solution. It is recommended that this study be shared with the polymer-based nanomaterial researchers, especially material science.

The purpose of this paper is to investigate whether corporate social responsibility (CSR) really adds value to corporate financial performance (CFP) in the pharmaceutical industry. Most pharmaceutical companies currently practice CSR by taking a “triple bottom line” approach of environmental, social, and economic strategies to manage their businesses and produce an overall positive impact.

A survey was developed based on professional experience, Carroll’s construct, the study’s hypotheses, and industry studies. The survey, composed of 45 questions using a seven-point Likert scale, was conducted among pharmaceutical professionals to evaluate whether CSR affects performance. Responses totaling 140, including 20 companies, were coded, taking into account the respondent’s corporate position and firm size.

Survey respondents strongly agreed that CSR adds value to CFP and should be viewed as a long-term investment. CSR programs should be implemented regardless of company size. CSR is effective because it invests in stakeholder management, such as with customers, government, investors, and activists, creating positive relationships which improve reputation and profitability.

This perception study shows the need for further quantitative analysis of CSR and CFP metrics specific to the pharmaceutical industry.

CSR programs should be implemented regardless of company size, and sheer size does not dictate whether CSR programs can be successful. This paper also sheds light on potential managerial implications that originate from these findings that may help pharmaceutical companies manage their scarce resources more effectively.

In today’s competitive economic environment, where increasingly stakeholders including investors scrutinize pharmaceutical firms’ environmental and social performance, CSR is a crucial strategy. The findings can help corporate managers make strategic CSR decisions to optimize benefits for their organization.

While numerous studies have addressed the link between CSR and corporate performance across industries, definitive studies have not examined the pharmaceutical industry.

This paper aims to examine the consistencies and discrepancies in corporate social responsibility (CSR) reporting by analyzing the CSR reports of pharmaceutical companies. Despite the major role pharmaceutical companies play in the CSR field, our knowledge of the extent to which their disclosures provide comprehensive, material, credible and accurate information on their actual performances is limited because of a lack of sufficient literature on the CSR reporting practices of pharmaceutical companies.

The authors present a literature review that serves as the basis to develop the two key research questions: Do pharmaceutical companies publish comprehensive CSR reports? Are company reports that cover more material issues more comprehensive? Using the information on material CSR topics provided by the Sustainability Accounting Standards Board (SASB) and CSR reporting quality scores by the CSR-Sustainability Monitor®, the authors analyzed the CSR reports of the world’s 15 leading pharmaceutical companies. A total of 11 material topics from SASB were mapped onto the corresponding contextual elements in the CSR-Sustainability Monitor. The Monitor evaluates CSR reports published by the world’s largest companies in terms of the degree of transparency and external verification of reporting.

The analyses revealed that while the pharmaceutical industry outperforms other industries in terms of the overall comprehensiveness of reporting, certain discrepancies exist among these companies in the content of their disclosures. Specifically, pharmaceutical companies beat the averages on multiple key CSR topics. However, while disclosures on mature areas such as environment and labor relations show some level of standardization, those focusing particularly on sensitive areas such as human rights and supply chain are far from being standardized. The authors also find that CSR reports that do not include all of SASB’s material topics are just as comprehensive as those that do. A detailed analysis of US and non-US companies separately further revealed that this result is valid for both groups of companies.

Considering the voluntary nature of CSR reporting, pharmaceutical companies still resort to selective disclosure techniques to highlight their achievements in areas where they feel more confident while leaving out others that can have potential negative consequences on the company. These results underscore the evolving nature of CSR reporting in the pharmaceutical industry and call for more attention and further investigation from managers and researchers alike.

The originality and value of the research show that despite its rapid growth and wide recognition by different segments of society and business as an effective and promising concept, CSR reporting has not yet reached a point where its expected benefits are realized. Focusing on the disclosure side of the story, this paper tries to identify the extent to which the pharmaceutical industry appropriately addresses increasing societal demand for enhanced transparency on its sustainable business policies and practices.

The purpose of this paper is to investigate the impact of social capital of non-resident family members on small business debt financing. Recent literature in entrepreneurship suggests that small businesses can borrow social capital to improve their access to debt financing.

Micro-entrepreneurs from India were interviewed regarding their ability to raise capital from family members as well as their relationship with banks and politicians.

The survey indicates that small business entrepreneurs are able to borrow social capital from non-resident Indians. Results also suggest that these small businesses are more likely to be connected to banks and politicians facilitated by their non-resident family members, which not only improves micro-entrepreneurs’ access to debt financing but also reduces their cost of borrowing.

This is a co-relational study that investigates the association between social capital of non-resident family members and small business debt financing. There is not necessarily a causal relationship between the two. The findings of this study may only be generalized to firms similar to those that were included in this research.

This study contributes to the literature on the factors that improve the access to small business debt financing. The findings may be useful for financial managers, investors, financial management consultants, entrepreneurs, and other stakeholders.

The purpose of this paper is to determine whether corporate investment in real fixed assets in hot issue markets leads to higher income to shareholders than that in other equity market conditions.

The authors address the research question in two steps: first, the authors identify how security issuances in hot and cold issue markets influence corporate investment decisions. Second, the authors examine how debt- and equity-financed investments in two different market conditions affect future holding period returns. The sample includes an unbalanced panel data set consisting of all non-financial and non-utility US companies from 1973 to 2006. The authors apply both firm- and industry-level fixed effect methods to estimate the coefficients of two separate empirical models.

The authors find that equity issuances increase firms' capital investments in hot issue markets. These equity-financed investments in hot equity markets result in higher returns to shareholders compared to those in other market conditions. Therefore, there exists a window of opportunity for firms to issue new equities and make investments, which in turn improve shareholders' wealth.

The findings convey a critical message to corporate managers about the right timing of equity-financed capital investments.

While earlier research focuses on determining a specific equity market condition that favours new issuances, this paper determines a particular equity market condition when firms typically choose value-enhancing equity-backed projects for investment.

The Gulf Cooperation Council (GCC) member countries have recently given tremendous emphasis to corporate entrepreneurship. The purpose of this paper is to investigate whether the lack of entrepreneurship in publicly listed GCC firms affects their ability to acquire debt financing.

Using stochastic frontier approach, the paper estimates an optimal revenue function given labor costs, operating expenses, and existing physical infrastructure of an organization. The paper estimates the difference between the optimal and actual level of firm revenues from a revenue frontier function, which can be partially resulted from managerial inefficiency due to the lack of corporate entrepreneurship. The paper uses fixed-effect panel regression and simultaneous equations system to determine the effect of such inefficiency on firms’ debt financing.

The main finding is that as entrepreneurial activities increase, firms’ ability to borrow from banks also increases. Results also indicate that increased borrowing improves internal governance practices and indirectly compel the management to become more efficient.

Results exhibit how improving entrepreneurship affects firms’ access to external financing when the financial markets are underdeveloped and are plagued with information asymmetry and agency problems.

The paper provides insights for policy makers in the GCC and other emerging countries where entrepreneurial activities are becoming a priority.

The paper develops a new proxy measure of entrepreneurship in public firms and advances our knowledge about the importance of entrepreneurship in finance.

The purpose of this paper is to examine the signaling and free cash flow hypotheses of dividends in the context of an emerging financial market.

The authors use fundamental financial information of Chinese companies listed in the Shenzhen and Shanghai stock exchanges. They examine the impact of cash dividend payments on future profitability of individual firms with and without controlling for non-linearity in their earnings to test the signaling hypothesis. They also determine the characteristics of dividend paying firms to examine the free cash flow hypothesis.

It was found that while dividend increases by publicly listed Chinese firms are followed by increases in earnings in two subsequent years, such relationship does not exist in the case of dividend decreases. However, under the assumption of non-linearity of earnings, it was found that neither dividend increases nor dividend decreases convey any valuable information about future changes in earnings of Chinese firms. Further, it was found that firms with high cash holdings, large profitability and high managerial efficiency are likely to pay dividends. The authors therefore conclude that announcements of cash dividend payments do not signal future performance but indicate good governance practices of publicly traded firms in China.

This evidence is critical for potential foreign investors in their portfolio investment decisions and for regulators in determining an efficient measure of corporate disclosure in China.

This study investigated how the Covid-19 pandemic impacted cross-border acquisitions. Though literature suggests that cross-border investments decreased during the pandemic, there is little conclusive evidence on specific characteristics in the execution of particular acquisitions during such times. We applied the case study format to conduct our investigation by (1) providing a classification of influences on cross-border procedures and (2) highlighting critical characteristics during three phases of acquisitions, namely, search, negotiation and integration periods.

The grounded theory approach was applied to three in-depth case studies of German companies that acquired Japanese targets during the Covid-19 pandemic. Data were supplemented by information received through additional case studies of German subsidiaries in Japan and interviews with consultants.

Firms had already intended to acquire their respective targets, with their decisions having been made prior to the Covid-19 pandemic. Thus, the pandemic had no impact on target selection in the case firms. Owing to travel restrictions, information exchange was limited which inevitably led to higher usage of digitalization. While several barriers led to delays in negotiations, prevailing mutual trust and assistance from consultants helped to reduce difficulties. During the integration period, we found delays in synergy creation and increases in remote communication. Nevertheless, the digital workflow improved the efficiency.

Our study provides novel insights into the execution of cross-border acquisitions impacted by the Covid-19 pandemic. We discuss new implications for mergers and acquisitions (M&A) research and practice for the post-pandemic era, focusing on German firms acquiring Japanese targets.

The purpose of this study is to examine whether financial markets value a firm’s specific corporate environmental performance (CEP), i.e. its energy efficiency. This study also investigates the mechanism through which energy efficiency is associated with firm value.

For the empirical study, a sample of 324 US-listed non-financial firms during the period 2006–2019 was accessed from Thomson Reuters Refinitiv. Using baseline ordinary least squares regression models, this study first estimates the association between energy efficiency and firm value. It then tests the role of analyst coverage (the number of sell-side financial analysts following the firm) in ascertaining the value relevance of energy efficiency. To ensure the robustness of the results, alternative estimations including endogeneity and sample bias correctness tests were performed.

The study shows that energy efficiency is associated with firm value, and the role of analyst coverage as an external corporate governance mechanism is positive and significant on the value relevance of energy efficiency. Furthermore, this study documents that the relationship is shaped by sustainability-related internal and external risks, indicating that financial analysts’ role becomes more imperative when firms are subject to high scrutiny.

This study contributes to the literature by examining the intersections of energy efficiency, analyst coverage and firm value. It attempts to demonstrate how and why CEP and financial performance are linked. In the context of growing environmental concerns, the pressure of climate change and achievement of net-zero carbon emissions, this study provides valuable insights into the financial market wherein firms’ environmentally responsible behaviours are value-enhancing, and governance mechanisms are impactful. This study suggests that financial analysts can serve as an effective external corporate governance mechanism.