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This paper aims to examine sites of dissonance or consensus between global investor responses to the draft standards, International Financial Reporting Standards S1 (IFRS) (General Requirements for Disclosure of Sustainability-related Financial Information) and IFRS S2 (Climate-related Disclosures), issued by the International Sustainability Standards Board (ISSB).

A thematic content analysis was used to capture investor views expressed in their comment letters submitted in the consultation period (March to July 2022) in comparison to the ex ante position (issue of draft standards, March 2022) and ex post summary feedback (ISSB staff papers, September 2022) of the ISSB.

There was investor consensus in support of the ISSB and the development of the draft standards. However, there were sites of dissonance between investors and the ISSB, notably regarding the basis and focus of reporting (double or single/financial materiality and enterprise value); definitional clarity; emissions reporting; and assurance. Incrementally, the research further highlights that investors display heterogeneity of opinion.

The ISSB standards will provide a framework for future sustainability reporting. This research highlights the significance of such reporting to investors through their responses to the draft standards. The findings reveal sites of dissonance in the development and alignment of draft standards to user needs. The views of investors, as primary users, should help inform the development of sustainability-related standards by a global standard-setting body apposite to current policy and future reporting requirements, and their usefulness to users in practice.

To the best of the authors’ knowledge, this paper makes an original contribution to the comment letter literature, hitherto focused on financial reporting with a relative lack of investor engagement. Using thematic analysis, sites of dissonance are examined between the views of investors and the ISSB on their development of sustainability reporting standards.

In February 2018, Jerome Powell had taken over as chair of the FOMC. At first glance, the macroeconomic conditions inherited by Powell appeared favorable for continued stability: unemployment and inflation were low, and the economy had been steadily growing for nearly a decade. Yet despite the appearance of stability, the economy faced significant risks that required the Federal Reserve's attention. Was an uptick in inflation imminent, and if so, should Powell raise rates to limit any inflationary pressure? Or was the economy still operating below capacity, and if so, should the Federal Reserve take a more accommodative stance? To gain perspective, Powell needed to look back at the past fifty years of monetary policy in the United States.

Construction sustainability (CS) is a strategic reaction to the sustainability expectations of the construction industry's external stakeholders. The extant literature has viewed the environmental, social and economic dimensions of CS as having independent effects on financial performance. Due to the influence of common stakeholders, however, interactions in these dimensions will be present in their effect on financial performance. Accordingly, this study identifies the mechanisms of the interactions between the three CS dimensions and how they jointly affect financial performance.

Content analysis of GRI reports of 60 large construction organisations, followed by a hierarchical regression analysis was used to identify the interactions between environmental, social and economic CS in their effect on financial performance.

Economic CS was found to indirectly, and not directly, affect financial performance, the effect being mediated by both environmental and social CS. Environmental CS was found to have a strong negative effect on financial performance, whilst social CS was found to have a strongly significant positive effect on financial performance.

The motivation for engaging in CS is that investment in economic CS will have a positive effect on both environmental and social CS outcomes, which, in turn can have a combined effect on financial performance.

This is one of the first studies investigating the effect of interactions between the environmental, social and economic CS dimensions on the financial performance of construction organisations. It is also one of the first studies that applies a sociotechnical framework to this relationship.

This paper aims to examine the performance efficiency of 56 real estate assets within the rental sector in the UAE to evaluate the relative operation efficiency in relation to revenue generation.

The data envelopment analysis (DEA) approach was used to measure the relative operational efficiency of the studied assets in relation to the revenue performance. This method could produce a more informed and balanced approach to performance measurement.

The outcomes show that scores of efficiencies ranging from 7% to 99% in some of the models. The results showed that on average buildings are 75% relatively less efficient in maintenance, in term of revenue generation, than the benchmark set. Likewise, on average, the inefficient buildings are 60% relatively less efficient in insurance. Result also shows that 95% of the building assets in the sample are by and large operating at decreasing returns to scale. This implies that managers need to considerably reduce the operational resources (input) to improve the levels of revenue.

This study recommends that the FM operational variables that were found to inefficiently contribute to the revenue should be re-examined to test the validity of the findings. This is necessary before generalising or interpolating the results that are presented in this study.

The information obtained about operational performance can help FM managers to understand which improvements in the productivity of inefficient FM resources are required, providing insight into how to reduce operating costs and increase revenue.

This paper adds value in using new FM operational parameters to evaluate the efficiency of the performance of built assets.

The authors investigate the impact of the stringency of environmental policy on the financial performance of European automobile manufacturers. This paper contributes to the debate about the impact of environmental policy on a firm's competitive performance.

The authors use cross-country sector-level panel data for 71 firms from 18 European countries from 2010 to 2019. The authors apply a fixed-effect model and then, to address the endogeneity issues, the authors use the generalized method of moments (GMM) model. To further examine the validity of the results, the authors use a data-mining modeling approach as a robustness test.

By considering the dynamic impact of environmental policy and overcoming the endogeneity issues, the results show that the impact of the stringency of environmental policy on a firm's financial performance depends on the time horizon: the stringency of environmental policy has a short-term negative impact but a long-term positive impact on a firm's financial performance.

The authors limited the study to the auto industry in Europe. In addition, future research could consider the impact of environmental policy on other financial performance indicators such as Return on Sales or Return on Equity. Also, it would be interesting to conduct a similar study in the United States or China using a firm-level data set to examine the robustness of the results.

Stringency of environmental policy improves a firm's financial performance in the long term. It is essential for firms and managers to consider the dynamic impacts of environmental policy on their financial performance and adopt a long-term perspective when evaluating the costs and benefits of complying with environmental regulations. The findings help management develop a long-term vision for investment and budget allocation. The results support management's view for strategic decision-making against the common budget argument and challenges for stockholders when it comes to adopting new technologies and planning long-term investment.

It is crucial for firms to recognize the broader societal benefits that come with environmental policy. Firms must not only focus on their financial performance but also on their social responsibility to protect the environment and contribute to the greater good. Therefore, firms must take a long-term perspective and recognize the broader societal benefits of environmental policy in order to make informed decisions that support both their financial success and their social responsibility.

This paper contributes to the literature by helping to explain the inconsistent results of studies about the impact of environmental policy on a firm's competitiveness. Using a firm's financial performance as one of the main metrics for competitiveness, this study takes into account both endogeneity and contemporaneity in evaluating the impact of the stringency of environmental policy on a firm's financial performance.

While extant literature explores the influence of institutions on the national innovation system (NIS), most research has either focused on specific institutional aspects or treated institutions as a unified entity. This study aims to examine the effect of various institutional factors on a country’s NIS.

The conceptual model was empirically validated using regression analysis. The study sample comprised a total of 84 countries.

This study identifies and empirically validates a comprehensive set of institutional factors. It also highlights the significant institutional factors (including political stability, government effectiveness, ease of resolving insolvency and the rule of law) that can help improve a country’s NIS.

The research provides practical implications for organizations and policymakers seeking to understand and foster an innovative culture within the NIS. Policymakers are encouraged to develop a nurturing environment within the NIS by focusing on significant institutional factors. Organizations are encouraged to closely monitor developments in the NIS of a country to make informed strategic decisions at the business, corporate and international levels.

The purpose of this study is to extend Bippus and Young’s (2005) study and examine the effectiveness of the “I-you,” “I,” “You,” “We,” “But” and Question-based “Why” statements from Winer’s (2021) verbal coding program of conflict management using Bandura’s (1977) social learning theory (SLT).

Mixed methods were used using 175 university students from Texas and New York. A cross-sectional convenience sampling approach was conducted. Survey data was collected using Qualtrics.

Descriptive results demonstrated that the “We” statement was the most passive, the “I-you” statement was the most assertive and the “But,” “I,” “You” and Question statements were perceived to be aggressive. In addition, assertive “I-You” statements were perceived to be more effective in resolving the conflict and maintaining a relationship, whereas aggressive statements were less likely to resolve the conflict and maintain the relationship. Qualitative themes also support the “I-You” statement as the most assertive, while the “But,” “You” and “I” statements were found to be the most aggressive statements.

Implications and applications are discussed to stimulate future research among researchers and practitioners when addressing conflict. Being aware of the verbal statements that de-escalate conflict may be helpful in solving conflict in interpersonal, family and professional relationships. Future trainings can adopt effective verbal statements to resolve conflict when experiencing anger issues. Future research can continue to investigate verbal communication statements using SLT to help practitioners and managers address conflict in interpersonal relationships.

This study examines verbal statements in relation to communication styles and conflict management.

The key learning objectives are as follows: analyze Mamaearth’s growth trajectory in the Indian market, illustrate the meaning of a direct-to-consumer (D2C) brand, analyze the importance of social media in building a D2C brand, analyze the challenges and advantages associated with a D2C brand, analyze growth and expansion options available with Mamaearth and evaluate the strategies for Indian start-ups in the beauty and personal care space.

In 2016, what began as a quest to find safe baby care products for the first-time parents Varun and Ghazal, turned into an entrepreneurial opportunity. The couple started Honasa Consumer Private Limited at Gurugram, which owned the brand Mamaearth. Conceived as a D2C brand for mothers opposed to harsh baby care products, it debuted with just six baby care products with exclusive online availability. For the brand to grow, it recreated the marketing mix to be perceived as a brand for all ages. The step successfully garnered a customer base of over 1.5 million consumers in 500 cities and a valuation of INR 1bn within four years of operations. In February 2021, Mamaearth became a brand with INR 5bn annualized revenue run rate and aspired to double it to INR 10bn by 2023. Though Mamaearth debuted as a D2C brand, after tapping around 10,000 retail stores, the Alaghs realized that many consumers still preferred transacting in the offline space. Alaghs decided to expand by acquiring a robust offline space in 100 smart cities in India. Would it be wise for Mamaearth to take forward their offline expansion plans? Alternatively, would an aggressive product innovation coupled with a more substantial online presence be a more sustainable proposition?

The case study is appropriate for Post Graduate Diploma in Management/Master of Business Administration level courses of second year in strategic brand management, digital marketing, integrated marketing communication and marketing strategy. The case stuudy may also be useful for prospective entrepreneurs planning to embark upon a D2C venture. The case study elaborates on the emergence, marketing and branding of Mamaearth. The case study helps students understand the meaning of a D2C brand and the growth options available in the Indian market for a D2C brand from the perspective of Mamaearth.

Teaching notes are available for educators only.

CSS 3: Entrepreneurship.

The United Nations Convention on the Rights of Persons with Disabilities (2006) recognizes the right of disabled people to access work. Against this legislative backdrop, this study explores the strengths and weaknesses of the Italian system of targeted placement for disabled people, based on Law 68/1999, which delegates to regional authorities the management of the labor market. The examination centers on the perspective of companies, the primary stakeholders in the inclusion of persons with disabilities within organizational structures.

The article discusses the results of focus groups conducted with 28 managers of large, medium and small enterprises in Lombardy (Italy). Qualitative analysis was employed, and the results were structured using a simplified strengths, weaknesses, opportunities and threats (SWOT) analysis, incorporating practical recommendations.

The analysis leads to practical suggestions to improve the entire targeted placement process at the regional level, from selection and accompaniment to evaluation, such as improving the networking of local stakeholders who deal with the inclusion of disabled people, homogeneity of the procedures in different regions, making all employees aware of diversity management, etc. The territorial network and the welfare environment are particularly important in achieving a successful targeted placement and to promote an inclusive corporate culture.

This study is not representative of Italy as a whole, as it remains a qualitative investigation focused on a single region.

This contribution accomplishes an in-depth study of the law of labor inclusion of people with disabilities observed from the point of view of companies, which are still usually reluctant to integrate people with disabilities into their organizations or encounter difficulties in doing so.

Alexandre Tombini, the governor of the Central Bank of Brazil, faced a difficult situation in July 2015. Inflation was in the double digits, well above the target rate of 4.5%, and unemployment had increased from around 4.5% a year prior to nearly 8%. Any actions Tombini took to control inflation would most likely exacerbate unemployment, at least in the short run. To further complicate matters, Tombini's office was not independent of the executive branch of Brazil's government, and Tombini faced the possibility that any of his actions that were not aligned with the priorities of the current administration could cost him his job.

This case follows classes on fiscal and monetary policy in normal times and is the first class in a sequence on macroeconomic challenges–in this case, stagflation–high inflation and high unemployment. Students are pushed to consider why macroeconomic stabilization involves such acute and unpleasant tradeoffs during episodes of high inflation and unemployment. Students use the IS/LM AD/AS model as a reference.