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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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Daniel Werner Lima Souza de Almeida, Tabajara Pimenta Júnior, Luiz Eduardo Gaio and Fabiano Guasti Lima
This study aims to evaluate the presence of abnormal returns due to stock splits or reverse stock splits in the Brazilian capital market context.
Abstract
Purpose
This study aims to evaluate the presence of abnormal returns due to stock splits or reverse stock splits in the Brazilian capital market context.
Design/methodology/approach
The event study technique was used on data from 518 events that occurred in a 30-year period (1987–2016), comprising 167 stock splits and 351 reverse stock splits.
Findings
The results revealed the occurrence of abnormal returns around the time the shares began trading stock splits or reverse stock splits at a statistical significance level of 5%. The main conclusion is that stock split and reverse stock split operations represent opportunities for extraordinary gains and may serve as a reference for investment strategies in the Brazilian stock market.
Originality/value
This study innovates by including reverse stock splits, as the existing literature focuses on stock splits, and by testing two distinct “zero” dates that of the ordinary general meeting that approved the share alteration and the “ex” date of the alteration, when the shares were effectively traded, reverse split or split.
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Marjolein C.J. Caniëls and Petru Curseu
Leaders are role models and through social influence processes, they shape the behaviour of their followers. We build on social learning, social identity and person-environment…
Abstract
Purpose
Leaders are role models and through social influence processes, they shape the behaviour of their followers. We build on social learning, social identity and person-environment (P-E) fit theories of leadership to explore the association between leaders’ and followers’ resilient behaviours.
Design/methodology/approach
In a three-wave, multisource study amongst 269 Dutch leaders and their followers, we investigate the mediating role of coaching in the relationship between leaders’ resilient behaviour and followers’ resilient behaviour and the moderating role of regulatory focus in this mediation path.
Findings
Our results show that coaching is a key relational vehicle through which leaders’ resilient behaviours shape employees’ resilient behaviours, and this indirect association is stronger for employees scoring low on promotion focus. In addition, our results show that resilient employees attract more coaching from their leaders, which further strengthens their resilient behaviours.
Originality/value
Existing studies have shown the occurrence of trickle-down effects of various leader behaviours, moods and work states on those of their followers. However, it remained obscure whether leaders’ resilient behaviour could trickle down to followers’ as well. Our study shows that such a link indeed exists and that coaching is a relational vehicle that embodies two key mechanisms to (1) foster social learning through behavioural entrainment and contagion and (2) facilitate support provision through which leaders promote resilient behaviour in their followers.
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Halina Waniak-Michalak and Jan Michalak
The study aims to determine whether a relationship exists between the potential significance of corporate controversies for stakeholders and how organisations respond to them in…
Abstract
Purpose
The study aims to determine whether a relationship exists between the potential significance of corporate controversies for stakeholders and how organisations respond to them in their annual and sustainability reports.
Design/methodology/approach
This paper employs content analysis on annual and sustainability reports of 48 listed companies from the Refinitiv database. The logit regression was used to estimate the model.
Findings
The study revealed that the main factors increasing the probability of a controversial issue being addressed in a corporate report are the controversy’s potential significance, companies’ financial performance and lawsuits.
Research limitations/implications
Our study has three major limitations. These are a relatively small sample of companies and reports, focusing on disclosures made in corporate reports and omitting other channels of communication, for example, social media, and a certain amount of subjectivity in the process of coding information.
Social implications
Former studies show that corporations face a serious risk of their hypocritical strategies becoming too evident for stakeholder groups. Our findings suggest that the risk is already materialising and may undermine the idea of CSR and sustainability reporting.
Originality/value
Our research focuses on high-profile adverse incidents widely reported in the media, the omission of which from corporate reports seems to constitute a particular case of organised hypocrite. It also demonstrates that companies use an impression management strategy to defuse adverse publicity and that major controversies cause minor ones to be omitted from their reports.
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Ana Junça Silva, Patrícia Neves and António Caetano
This study draws on the affective events theory (AET) to understand how telework may influence workers' well-being. Hence this study aimed to (1) analyze the indirect relationship…
Abstract
Purpose
This study draws on the affective events theory (AET) to understand how telework may influence workers' well-being. Hence this study aimed to (1) analyze the indirect relationship between telework and well-being via daily micro-events (DME), and (2) test whether procrastination would moderate this indirect effect.
Design/methodology/approach
To test the goals, data were gathered from a sample of teleworkers in the IT sector (N = 232). To analyze the data, a moderated mediation analysis was performed in SPSS with PROCESS macro.
Findings
The results showed that micro-daily events mediated the positive relationship between telework and well-being; however, this relation was conditional upon the levels of workers' levels of procrastination, that is, this link became weaker for those who were procrastinators.
Practical implications
By highlighting the importance of telework, DME and procrastination, this study offers managers distinct strategies for enhancing their employees' well-being.
Originality/value
Despite the existing research investigating the effect of telework on well-being, studies investigating the intervening mechanisms between these two constructs are scarce. Moreover, there is a lack of research investigating the moderating effect of procrastination in these relations. Hence, this study fills these gaps and advances knowledge on the process that explains how (via DME) and when (when procrastination is low) teleworking influences workers' well-being.
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This paper analyses the impact of the COVID-19 pandemic on Myanmar’s tourism industry, identifying challenges and innovations, and predicting future trends to foster a resilient…
Abstract
Purpose
This paper analyses the impact of the COVID-19 pandemic on Myanmar’s tourism industry, identifying challenges and innovations, and predicting future trends to foster a resilient and sustainable sector.
Design/methodology/approach
The study uses a comprehensive analysis of tourism trends, government and private sector responses and changes in tourist behaviour, employing data, case studies and policy reviews.
Findings
The pandemic significantly disrupted Myanmar’s tourism, causing economic losses and shifts towards sustainable, outdoor and cultural experiences. Effective strategies by the government and private sector are aiding recovery and suggesting a more diverse and resilient future.
Research limitations/implications
The research is limited by the availability of data during the pandemic, highlighting the need for ongoing strategy adaptation.
Practical implications
The study recommends digitalization, health protocols, domestic tourism focus and sustainable practices for a robust post-pandemic industry.
Social implications
The study emphasizes the pandemic’s social impact on tourism-dependent communities and the need for inclusive, sustainable tourism practices.
Originality/value
Itprovides unique insights into COVID-19’s multifaceted impact on Myanmar’s tourism, offering valuable information for future sector strategies.
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Suné Maré and Ashley Teedzwi Mutezo
This paper aimed to determine the self- and co-regulation influences on the community of inquiry (CoI) for collaborative online learning.
Abstract
Purpose
This paper aimed to determine the self- and co-regulation influences on the community of inquiry (CoI) for collaborative online learning.
Design/methodology/approach
A quantitative survey was used on a sample of (N = 626) enrolled postgraduate students in a South African Open Distance and e-Learning (ODeL) university. The measuring instruments were the CoI and the shared metacognitive surveys. Correlation and multiple regression analyses were used to determine the association and influence of self- and co-regulation on the CoI.
Findings
The results indicated that self- and co-regulation related to the CoI (teaching, cognitive and social) presences. In addition, the results revealed that self- and co-regulation influence the CoI presences. Self-regulation had the highest influence on teaching and cognitive presence, while co-regulation influenced social presence.
Research limitations/implications
The study’s convenience sampling method from a single university limited the applicability of the findings to other online learning environments.
Practical implications
Higher educational teachers who encourage student self- and co-regulation may enhance their online teaching, cognitive and social presence when studying online. The research’s findings may be valuable to teachers to enable them to provide a more collaborative and interactive online learning environment and promote productive online communities.
Originality/value
This study contributes to the body of knowledge about the relationship between teaching, social and cognitive presence and self- and co-regulation within the CoI framework. Furthermore, there has also been limited research focussing on the dynamics of shared metacognition within the CoI framework in an ODeL context.
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Hedaia-t-Allah Nabil Abd Al Ghaffar
The purpose of this paper is to try to reach the main factors that could put national security at risk as a result of government cloud computing programs.
Abstract
Purpose
The purpose of this paper is to try to reach the main factors that could put national security at risk as a result of government cloud computing programs.
Design/methodology/approach
The paper adopts the analytical approach to first lay foundations of the relation between national security, cybersecurity and cloud computing, then it moves to analyze the main vulnerabilities that could affect national security in cases of government cloud computing usage.
Findings
The paper reached several findings such as the relation between cybersecurity and national security as well as a group of factors that may affect national security when governments shift to cloud computing mainly pertaining to storing data over the internet, the involvement of a third party, the lack of clear regulatory frameworks inside and between countries.
Practical implications
Governments are continuously working on developing their digital capacities to meet citizens’ demands. One of the most trending technologies adopted by governments is “cloud computing”, because of the tremendous advantages that the technology provides; such as huge cost-cutting, huge storage and computing capabilities. However, shifting to cloud computing raises a lot of security concerns.
Originality/value
The value of the paper resides in the novelty of the topic, which is a new contribution to the theoretical literature on relations between new technologies and national security. It is empirically important as well to help governments stay safe while enjoying the advantages of cloud computing.
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This study explores the motivations underlying the European Super League (SL) breakaway attempt. While institutional settings bind football to tradition, investors conceive…
Abstract
Purpose
This study explores the motivations underlying the European Super League (SL) breakaway attempt. While institutional settings bind football to tradition, investors conceive football companies as an opportunity to diversify their investments in a fast-growing technological industry. The study investigates the market structure and identifies the reasons behind the European football crisis, proposing to modify the role of Union of European Football Associations (UEFA) in the European football market.
Design/methodology/approach
After summarizing the unusual features of the European football market, the article displays the agents involved and their interrelations. Modeling the market facilitates picturing the misalignment of targets of regulatory bodies and football clubs. It also helps visualize the potential consequences of the SL coup on the market.
Findings
The market does not allow football companies to monetize their business and compete with other entertainment sectors. Only a radical change in the balance of power between clubs and self-interested institutional settings can settle this situation. Indeed, this relation leads to market inefficiency because the two most critical clubs' financial problems (the high dependence on broadcasting revenues and the uncontrolled expenditures on players' salaries) are linked to the same issue: the governing bodies strongly influence the profit equation by holding control of media rights and incentivizing clubs to overspend to win both on-field and off-field.
Originality/value
This study is the first to assess the football business market using an evolutionary approach to address its problems. It offers a visualizing tool to understand the market and proposes an alternative solution for solving the football market crisis.
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Matheus Eurico Soares de Noronha, Diandra Maynne Ferraro, Leonardo Reis Longo and Scarlet Simonato Melvin
The aim of this article is to present a model for the orchestration of dynamic capabilities (ODCs) in cleantech companies that aim to obtain competitive advantage in the market.
Abstract
Purpose
The aim of this article is to present a model for the orchestration of dynamic capabilities (ODCs) in cleantech companies that aim to obtain competitive advantage in the market.
Design/methodology/approach
The authors present herein descriptive research guided by a qualitative multiple case study approach carried out with 12 cleantech companies.
Findings
The results have showed that the ODC model is present in the product/process cycle, thus providing new capabilities and generating sustainable competitive advantage through the research categories presented.
Research limitations/implications
This study contributes to the literature on the ODCs through microfoundations based on evidence of companies inserted in technological and intensively dynamic contexts.
Practical implications
This article demonstrates, through the ODC model, the main capabilities and characteristics of the assets of cleantech companies and how the process of renewing competencies to obtain competitive advantage occurs.
Originality/value
The ODC model utilizes technological resources in the product/process cycle. Asset specificity and the capacity for innovation allow cleantech companies to explore regulatory loopholes, making their sustainable model innovative and obtaining competitive advantage through the renewal of entrepreneurial capabilities and competencies.
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