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In this chapter, we investigate whether the first-time issuance of a standalone corporate sustainability report led to changes in reputation as measured by Fortune Most…
In this chapter, we investigate whether the first-time issuance of a standalone corporate sustainability report led to changes in reputation as measured by Fortune Most Admired scores. Based on a sample of 59 U.S. companies issuing their first standalone sustainability report over the period from 2001 to 2007, and controlling for the financial “halo effect” reported by Brown and Perry (1994), we find, on average no significant changes in reputational scores. However, cross sectional analysis shows that issuing companies from socially exposed industries experienced decreases in scores. Further, report quality, at least at the extremes appears to be positively related to changes in perceived reputation. These results are consistent with Godfrey's (2005) arguments with respect to corporate reputation.
The paper attempts to determine whether market participants see value in the corporate choice to begin publishing a standalone sustainability report. It also seeks to…
The paper attempts to determine whether market participants see value in the corporate choice to begin publishing a standalone sustainability report. It also seeks to investigate whether differences in market reactions are associated with the quality of the sustainability report.
The paper uses standard market model methods to isolate the unexpected change in market returns in the period surrounding the announcement of the release of a first‐time sustainability report.
The paper finds, on average, no significant market reaction to the announcement of the release of the sustainability reports. However, in cross‐sectional analyses, it is found that companies with the highest quality reports exhibited significantly more positive market reactions than companies issuing lower quality reports. These results hold when we control for firm size and membership in socially exposed industries.
The paper examines only the US firms and the measure of quality is based on an assessment of the extent to which reports provide disclosures recommended by the Global Reporting Initiative. The sample is also relatively small. Finally, the analysis examines perceived value for only one potential stakeholder group – shareholders. Future research could address any of these shortcomings.
The evidence suggests that companies seeking value from their sustainability reporting need to carefully consider the quality of their presentations.
The finding that quality of sustainability reporting is important to investors provides valuable evidence to support improvements in the implementation of sustainability accounting and reporting.
The perceived prestige of the doctoral degree granting institution traditionally has had a major effect on job opportunities available to a new accounting Ph.D. However…
The perceived prestige of the doctoral degree granting institution traditionally has had a major effect on job opportunities available to a new accounting Ph.D. However, given recent shortages of accounting academics, the role of program prestige may have changed. It is possible that individual factors also may now play a role in the initial placement decision. This study examines the effects of both doctoral program prestige and individual factors on the initial placement decision.
While our results indicate that doctoral program prestige still largely dictates the initial placement decision, several other factors are found to be important. New graduates initially placed at higher level institutions report faculty involvement during the application process as well as significant research support by the hiring institution. New faculty placing lower than expected report the mix of teaching and research as well as the quality of life as being significant factors in their employment decision.
Sustainability is a word that is included often in the current lexicon. In the academic world, the American Accounting Association devoted a plenary session to sustainability accounting in its 2009 annual meeting and the theme of the 2009 Academy of Management meeting was also on green management and sustainability. Many MBA programs have developed a special track focusing on sustainability, which suggests that there is some demand for the graduates of programs specializing in environmental issues. Is this all a fad and just rhetoric or will this emphasis on sustainability lead to discussions, plans, and programs that will be helpful in saving the planet?
In recent years, public administration has been targeted by multiple reform efforts. In multiple instances, such initiatives have been ideologically couched in…
In recent years, public administration has been targeted by multiple reform efforts. In multiple instances, such initiatives have been ideologically couched in public-choice perspectives and entrenched beliefs that government is the problem. One unavoidable consequence of this continued bout of criticism is the fact that government currently has a noticeably decreased capacity of boosting creation of public value. Within this context, there certainly is an important need for approaches that would counterbalance the loss of public value induced by market fundamentalism. This article suggests that leadership, as a concept of theory and practice, due to its partial immunity to the private-public dichotomy, can provide a pragmatic avenue for nurturing public interest and public value within the devolution of governance, a declining trust in government and a diminished governmental capacity to propagate the creation of public value. While this article critically examines and assesses the capacity of different leadership perspectives in terms of creating and maximizing public value, its primary scope is not the provision of definite answers but rather the instigation of a much necessary discussion.