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The aim of this research, which uses the theories of social identity and social exchange, is to investigate the relationship between responsible leadership, prosocial behavior and the mediating role of psychological ownership in this relationship. In addition, the moderating role of ethical and social responsibility in the relationship between responsible leadership and psychological ownership is tested in the study.

The sample of the research consists of 246 participants who work full-time at İstanbul Sabiha Gökçen Airport in ground handling services (GHS). The convenience sampling method was used in the research, and the research data were collected by the face-to-face survey method. The hypotheses of the research were tested with the partial least squares structural equation model (PLS-SEM) and SPSS Process Macro.

According to the results, it was determined that responsible leadership affects prosocial behavior positively and significantly, and psychological ownership plays a mediating role in this relationship. In addition, the moderating effect of ethical and social responsibility on the relationship between responsible leadership and psychological ownership was determined. When ethical and social responsibility is perceived as high by the employees, it was revealed that the conditional indirect effect of responsible leadership on prosocial behavior through psychological ownership was strong.

When responsible leadership encourages employees to take psychological ownership, they are more likely to engage in prosocial behavior. This study contributes to the field by evaluating the structures discussed with social identity and social exchange theory. In the management practice of organizations, responsible leadership should be strengthened and training should be given to develop responsible leadership.

In the literature review, it was observed that although there are studies conducted with responsible leadership, the concept was not examined with prosocial behavior, and it was not studied in the aviation sector, which has become indispensable for the world economy. With these features, the study distinguishes itself from others and constitutes a source of motivation for researchers.

To understand the motivations for adopting RI practices for institutional investors and asset managers; to understand the different RI strategies available to institutional investors; to understand the impediments to adoption of RI at an organisational level; to debate how financial institutions can drive the growth and adoption of RI among the investment community; and to illustrate the complexities of organisational change and the strategies that institutional entrepreneurs can use to overcome resistance to change from key stakeholders.

The case is set in October 2017 against the backdrop of the pending unbundling of Old Mutual plc into four new independent businesses, and the subsequent relisting of Old Mutual Ltd on the Johannesburg Stock Exchange in South Africa. The head of responsible investment at Old Mutual Investment Group and the main protagonist of the case, Jon Duncan, is considering what the subsequent relisting will mean for the responsible investing programmes that he has set up over the past six years. The case goes on to describe how responsible investment principles were supported through the implementation of ESG integration and active ownership strategies. It also examines recent developments in ESG product innovations and demonstrates another technique available to responsible investment practitioners in the form of best-in-class ESG screening. The case ends with Duncan contemplating the strategic priorities of the RI team moving forward, and how the managed separation might impact on the RI agenda. It provides prompts for students to discuss and formulate a strategy for advancing the aims of responsible investing.

The case is aimed at postgraduate-level students enrolled in a management-related degree programme such as an MBA, and covers both sustainable and responsible finance and institutional entrepreneurship theory.

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CSS 1: Accounting and Finance

Acting in complex and paradoxical situations cannot be taught through recipes. This article rereads a seminal Biblical text, the Decalogue, and seeks to place it in the actual context for people confronted with difficult decisions and actions. If foundational texts are not actualised, they lose their meaning. This is the base of the Judaic exegetic tradition. Practical wisdom can use the Decalogue to act in a relevant way in uncharted territory.

A method combining the reading of an old text with a dialoguing commentary in a group is how this actualisation has been elaborated. Oral and written traditions jointly are essential in making the seminal texts of practical wisdom relevant for our times. This commentary has been elaborated as a result of a dialogue with three different groups of more than ten members. This is the way the author uses the term “validation”.

In the Judaic language verbs are the most important grammatical components. The First Testament texts have their origin in the wisdom to act in a social context. The Decalogue is the central tenet of this practical wisdom. The author has been introduced to this wisdom through the research of communities to create an art of living away from the mainstream individualistic ideology. Currently in management discourse, the use of the words, social networks, stakeholder focus, community development and the attention to systemic and ecological relationships is increasing and this experience can provide an alternative discourse helping them in their endeavours.

Actualising an ancient tradition, the article makes it relevant for issues with which decision makers are struggling today.

This study aims to examine the relationship of ownership behaviors with both firm financial performance and family assets in the context of family owned businesses.

The research framework allows for a comparison of predictions drawn from social psychological, economic, and management literature. The hypotheses are tested using ordinary least squares hierarchical regression analyses conducted on a nonrandom sample of medium and large family businesses.

The empirical results identify four potential categories of responsible ownership behaviors: professionalism, active governance, owner as resource, and basic duties. Professionalism (i.e. acting in accordance with expectations and agreements among owners and in relation to the firm) is the only behavior positively associated with financial performance. The effect of active governance (i.e. the monitoring of management) on financial performance is moderated by business size – this behavior has a negative effect on the dependent variable for all but the largest firms in the sample.

The limitations of the current research and directions for further research include issues related to sampling, other possible variables to be explored, and alternative validations of the responsible ownership concept.

This study has direct practical implications for owners' actions in relation to one another and with other actors in the firm.

This study contributes to existing research on governance by developing a better understanding of the role of owners and their influence on the firm.

This paper aims to study the corporate governance practices followed by the listed companies in India to find out if industry and business group affiliation of firms influence their corporate governance practices.

The authors have created a corporate governance index for India using 15 of the variables used in past research. Hierarchical regression has been used in the study to control for possible inter-firm correlation in governance scores.

Using principal component analysis, the authors derive five factors for the corporate governance index – board composition, shareholder responsibility, ownership, responsible board behavior and fair executive compensation. Using the random intercept mixed-effects model, the authors find that corporate governance behaviors of firms affiliated to business groups are more similar within business groups than within industries.

Regulatory authorities generally target individual firms to enforce good corporate governance practices. As companies affiliated with the same business group exhibit similar governance practices, regulators can also set norms for business groups in addition to individual firms.

Scant research has studied the corporate governance behavior of firms affiliated with business groups. By making business groups (and industries) the unit of analysis, the authors have studied the corporate governance behavior of firms as a cluster in the context of an emerging country, India.

This study aims to see the importance of the father's role and the responsibility of ownership in three family companies in Indonesia. The family company's success cannot be separated from the father's role, responsible as the family company's owner. The study used a qualitative approach method. This study is based on interviews with three different family companies. Our findings present that those fathers who have prepared early and involve the second generation in the family business are more adaptable to business. An interesting finding is that it depends, however, on the interests of the next generation. For example, if the next generation prefers operations, this is not easy to reconcile with their father's desire to focus on marketing. In the twenty-first century, especially during the COVID-19 pandemic, entrepreneurship has changed. The family businessman's role is increasingly important amid market dynamics so that it affects globally.

Purpose – The financial crisis has exposed a behavioral paradox: although asset managers are putting significant effort into meeting institutional pressures to demonstrate transparency and responsible behavior, their actual investment behaviors seem to remain inconsistent with responsible ownership. We seek to understand asset managers’ motivations to use externally defined environment, social, and governance (ESG) information to engage in sustainable investment.

Methodology/approach – We draw on insights from the sensemaking literature, as well as institutional, behavioral, and cognitive theories to shed new light on asset managers’ motivations to demonstrate conformance with ESG criteria.

Findings – The more asset managers demonstrate conformance, the less likely they are to make an effort to integrate sustainability and long-term, return-making concerns in their investment behaviors. As a result of the organization’s decoupling strategy, asset managers who are obliged to justify responsible behavior tend to have a limited sense of responsibility for encouraging long-term changes in corporate behavior.

Practical implications – We argue that calls for greater transparency in investment decisions under the guise of demonstrating conformance to ESG information requirements will not lead to more sustainable investment behavior.

Originality/value – This chapter challenges the assumption in the sustainable investment literature that the common use of ESG criteria enables investors to pressure and empower companies in the long term.

This study aims to provide a precise understanding of how corporate sustainability information is used in socially responsible investing (SRI). The study is motivated by the lack of a recognised body of knowledge on this issue. This study, therefore, collates and reviews relevant studies (67 studies) to provide guidance to investors interested in SRI and identify a research agenda for academics desiring to contribute to this area.

This study conducts a systemic literature review employing recognised key words and searching the Web of Science. HistCite is utilised to ensure important cited studies are not missed from the collection. The review was conducted from two perspectives: (1) sources of sustainability information and (2) how the information is used in SRI.

The review identifies five major sources of sustainability information, including corporate reports, ESG ratings, industry affiliation, news and private communication with firms. These sources of information play different roles in the cross section of SRI strategies (i.e. negative and positive screening, active ownership and integration). This study provides guidance on how to use this information in SRI and provides recommendations for future research on how analysts interact with the information, how different informational characteristics impact implementation, ways to improve data quality, improvements to analysis methods and where data use needs to be extended into new strategies.

This review contributes to the SRI literature by inventorying studies of an important, yet omitted aspect, namely, sustainability information. This work also enriches the literature on corporate sustainability information by investigating how this information can be used for a specific purpose, namely, SRI. Given the increasing interest in SRI, this review will provide much-needed guidance for a range of practitioners, including investors and regulators.

Concentrated ownership implies greater alignment between ownership and control, mitigating the agency problem. However, it may also engender governance challenges such as funds appropriation through related party transactions and the oppression of minority shareholders, especially in the context of weak legal systems. We draw from legal theory (the tradeoff controlling shareholder model and private benefits of control) and from organization theory (socioemotional wealth), to suggest that concentrated ownership can be beneficial in both robust and weak legal systems for different reasons. We advance theory on the effects of controlling shareholders and suggest that the longer-term outlook associated with engaged concentrated ownership can aid the shift of the corporation toward Berle and Means' (1932, p. 355) “third possibility” of corporations serving the interests of not just the stockholders or management but also of society.

How do families-in-business deal with intergenerational female succession in their company’s corporate governance structures, i.e., the board of directors? How is female boardroom capital built up? This chapter explores the boardroom immersion processes and mentorship programs followed by 44 Mexican and Spanish next-gen women owners of 2nd, 3rd, and 4th generation, privately-owned, national and international firms, who were appointed for the first time to their family business’ board of directors between 2005 and 2020.

Our outcomes show that intergenerational female corporate governance succession is driven more by particular families-in-business matters, like the inheritance of ownership rights, than by corporate governance codes or soft legislation. We discovered that next-generation women owners are more likely to be appointed for the first time to their family business boardroom when they’re between ages of 38 and 47. Ninety percent (90%) of them will be appointed at or before 57. Our findings also reveal that 4th generation female owners are immersed in the boardroom at a younger age.

When analyzing the immersion processes, we noticed too that due to limited business socialization during their upbringing, some of these well-­educated, professionally qualified females had to cope with holding legal ownership (potestas) in the family firm but missing business decision-making legitimacy (auctoritas) in the governance structure. Based on our results, we developed a families-in-business female boardroom capital development framework to help them achieve both: potestas and auctoritas, as well as to facilitate next-generation women owners’ boardroom incorporation in family enterprises.