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Considering the greenwashing risk of symbolic environmental management, this study aims to distinguish the motivation for environmental investment growth (EIG) from the corporate cost stickiness and anti-stickiness perspectives.

This study analyzes the impact of substantive and symbolic environmental management on cost stickiness. Subsequently, competing hypotheses are proposed. Finally, empirical tests are conducted on Chinese A-share listed companies from 2010 to 2019.

EIG significantly improves enterprises’ cost stickiness. The cost of high EIG enterprises does not decrease significantly with a decline in income compared to other enterprises, which is consistent with the motivation for substantive environmental management. Enterprises with high asset specificity and optimistic management expectations show more obvious substantive environmental management. Government and public environmental concerns cause more pronounced substantive environmental management.

An evaluation of corporate environmental responsibility should take into account both what the company has disclosed and what it has actually done.

Governments and the public should have a comprehensive understanding of corporate environmental management. They need to strengthen their ability to recognize symbolic environmental management and support substantive environmental management.

Fundamental to the evaluation of corporate environmental responsibility, this study distinguishes the motivations for corporate EIG disclosures from the cost stickiness perspective to avoid the risk of greenwashing. Hypotheses on the impact of substantive and symbolic environmental management on cost stickiness are presented. This study verifies the substantive environmental management characteristics of listed Chinese companies.

The purpose of this paper is to identify the relationship between organizational capital and the subsets of organizational capital (intellectual capital (IC)) cost and cost stickiness.

This study is causal correlational research. The data related to the company’s financial statements were collected using the Rahavard Novin Software and www.rdis.ir. In this study, panel data were run with the use of Eviews 8, in order to test the hypotheses. The ordinary least-squares method is used in this study to estimate the parameters of the model.

The results obtained from the study show that there is a significant relationship between organizational capital and cost stickiness. However, there is no significant difference between high and low rank in terms of organizational capital and cost stickiness. In addition, there is a significant difference between IC and cost stickiness. Moreover, there is no significant difference between the components of IC and cost stickiness. Also, IC has an effect on the intensity of the relationship between organizational capital and cost stickiness.

This study explores the relationship between organizational capital and the subsets of IC and cost stickiness. Independent variables used in this study include organizational capital, IC and its components in the Pulic model, i.e. the efficiency of capital employed, the efficiency of human capital and the efficiency of structural capital.

The purpose of this paper is to investigate the relationship between financial reporting and cost stickiness in companies listed on the Tehran Stock Exchange.

Data of all Iranian manufacturing listed companies gathered for testing hypotheses during 2010–2016 and R statistical software are employed in order to analyzing data.

The results of this study indicate that there is a significant relationship between administrative, sale, material, labor and overhead costs and the financial reporting qualities of the companies under study.

The study focuses on relationship between financial reporting and cost stickiness in companies listed on the Tehran Stock Exchange, which is the first study of its type in Iran.

Relying on a unique proprietary Polish office market space database, the paper attempts to quantify the impact of buildings' age on the financial performance of real estate assets.

Panel econometric modeling was utilized to disentangle the impact of buildings' functional obsolescence and technical deterioration on their long-term financial performance.

In line with casual empiricism, our findings show a negative associative link between properties' age and potential lease revenue. The concomitant stickiness of service charges presages a possible long-term deterioration of financial outcomes of real estate investments. While older buildings generally have higher occupancy rates, the absorption rates are found to be negatively affected by the properties' age. On the bright side, the elasticity of vacancy rate with respect to rental rates is found to decrease as buildings get older. Further, the rent differential is confirmed to be more pronounced in higher age properties hinting at an existing potential for price discrimination, which may at least partially compensate for stagnant rents.

Our empirical results confirm the properties' age to be a statistically significant factor in shaping the long-term performance of real estate assets, which should be better accounted for in financial projections for real estate developments.

A great number of German companies are suffering an acute financial crisis. Financial optimisation of the substantial property holdings owned by German companies offers an opportunity to reduce costs and to free up capital. However, the demands on property for operational purposes create difficulties when optimisation is carried out exclusively for financial objectives. In this paper it will be shown, by means of an empirical investigation of real estate directors and financial managers of the leading German undertakings, that companies are failing to take the decisive step towards optimisation. The reason for this lies in inadequate internal preparations, manifested in the lack of a linkage between real estate strategy and corporate strategy. Property rights‐oriented analyses of real estate assets create new scope to refinance existing holdings, without sacrificing the important requirements of the units occupying them. This paper discusses the essential steps to a solution and explains the potentials that can be enhanced by a structured financial optimisation of property holdings.

The existing literature, generally based on US data, provides little evidence that supports whether managerial ability directly links to corporate risk-taking. Hence, this study aims to expand the limited extent by investigating the impact of managerial ability on risk-taking across Saudi firms.

This study mainly uses a panel fixed-effects model, including firm-year and firm-industry, to analyse a sample of Saudi non-financial firms from the period 2008 – 2018. In the empirical analysis, the managerial ability is lagged by one year to mitigate endogeneity concerns that may arise from reverse causality. To avoid omitted variables bias, this study includes several firm-level control variables.

The empirical results show that the relationships between managerial ability and firm risk-taking measures are negative and statistically significant with the standard deviation of return on assets (sROA) and leverage; positive and statistically significant with the Z-score. These results indicate that firms managed by high-ability executives have the propensities to take less risk. The main results remain robust to additional sensitivity analyses including an alternative measure for managerial ability, an alternative proxy for risk-taking using logistic regression analysis, using financial crises as dummy variables, and using a cross-lagged panel model with fixed effects for endogeneity concerns.

When evaluating firms, all market and society participants including researchers, regulators, supervisors, policymakers, and boards ought to pay close attention to managerial ability as one of the main factors affecting risk-taking.

Previously, closely related studies, focussing on the US market, mainly find that managers with high ability are receptive to risk-taking. This paper offers further international insight into the relevant literature by providing evidence that capable managers are inclined to take low risks.

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

The authors take a historical perspective and compare office market performance metrics and CMBS loan delinquency rates over the past two years with previous downturns.

What will happen to the office sector in the post-pandemic era? we examine this question from three perspectives. First, the authors discuss the (short-term) risk of commercial real estate investment with high inflation and rising interest rates. If investors want to use CRE as an inflationary hedge, the cash flow must increase enough to counteract growing cap rates given rising interest rates.

As it turns out, the COVID-19 recession has been notably innocuous. Third, the authors focus on medical office space – an emerging investment option for the office sector.

The authors remain somewhat positive (or at least less downbeat) about the future of the office market based on the data they reviewed.

The office market is experiencing an odyssey rather than an exodus, at least in the short run. However, the authors remain cautious and they are monitoring key signs, prepared for the possibility of (r)evolutionary change in the office sector.

The purpose of this paper is to explore how culture affects economic development on Native American reservations by examining how culture directs the attention of entrepreneurs and interacts with formal governance institutions.

This paper combines theoretical insights from economic sociology, market process economics and institutional economics as a basis to evaluate entrepreneurship and economic development on Native American reservations. Culture, as a web of social meanings, shapes what opportunities entrepreneurs are alert to, influences how they perceive transaction costs and determines whether institutions achieve their intended ends. Historical and contemporary case studies are used to build analytical narratives to corroborate the theoretical approach.

The federal government has imposed many formal institutions on reservations, which have disrupted traditional governance and property rights structures. If formal institutions do not comport with the underlying culture, those institutions do not facilitate positive entrepreneurship and economic growth. Despite the barriers, entrepreneurs across several reservations have leveraged their cultural and social ties to create robust informal economies. In some cases, imposed institutions have fostered rent-seeking and have given rise to a culture of rent-seeking.

This paper looks at Native American entrepreneurship and institutions in the broadest sense. However, there is a large amount of diversity within the cultural and governance structures of Native American communities. Future research could examine specific tribes or reservations in more detail.

This paper elucidates cultural and institutional barriers to productive entrepreneurship on Native American lands. Policymakers must understand these root causes if they are to facilitate economic growth.

This paper’s combination of theoretical perspectives helps explain the widespread economic development issues on Native American lands.

Few will complain that 1974 has not been an eventful year; in a number of significant respects, it has made history. Local Government and National Health Services reorganizations are such events. This is indeed the day of the extra‐large authority, massive monoliths for central administration, metropolitan conurbations for regional control, district councils corresponding to the large authorities of other days; and in a sense, it is not local government any more. As in other fields, the “big batallions” acquire greater collective power than the total sum of the smaller units, can wield it more effectively, even ruthlessly, but rarely appearing to take into account the masses of little people, the quiet people, who cannot make themselves heard. As expected, new names of authorities are replacing the old; new titles for departments and officers, ambitious and high‐sounding; a little grandiose for the tongues of ordinary folk. Another history‐making event of 1974, in the nature of a departmental transfer but highly significant for the course of future events as far as work in the field is concerned, was handing over of the personal health services—health of expectant mothers, babies, children, domiciliary midwifery, the school health services and their mainly medical and nursing personnel—from local health authorities to the newly created area health authorities. The public health departments over fifty years and more had created them, built them up into the highly efficient services they are. If anything can be learned from the past, new authorities are always more expensive than those they replace; they spend freely and are lavish with their accommodation and furnishings. In their first few months of existence, the new bodies have proved they are no exception. News of their meetings and activities in many areas is now scanty; even local newspapers which usually thrive on Council news—or quarrels—seem to have been caught on the wrong foot, especially in the small towns now merged into larger units. The public are relatively uninformed, but this doubtless will soon be rectified.