Search results

1 – 10 of over 98000
Article
Publication date: 29 January 2024

Randy Priem and Andrea Gabellone

This article aims to analyse the relationship between the environmental, social and governance (ESG) score and the cost of capital of 600 large, mid and small capitalization…

Abstract

Purpose

This article aims to analyse the relationship between the environmental, social and governance (ESG) score and the cost of capital of 600 large, mid and small capitalization companies across 17 countries that are component of the EURO STOXX 600 Index. By examining whether ESG has an impact on the cost of capital, this article contributes to the solutions to improve the impact of organizations and societies on sustainable development. The article further examines whether the effect is because of the environmental, social and/or governance components. In addition, the article analyses which WACC component (i.e. the cost of equity, the cost of debt, the beta or the leverage ratio) is affected. Furthermore, this article analyses whether a high ESG score can substitute for a weaker legal environment.

Design/methodology/approach

The results were obtained by using ordinary least squares panel data modelling to analyse the relationship between the ESG score and the cost of capital. The sample consists of companies that are part of the STOXX Europe 600 Index over the period 2018–2021, which is composed of 600 companies, including large, mid and small capitalization firms listed across 17 countries. The sample finally includes 1,960 firm-year observations.

Findings

Companies with a higher ESG score tend to have a lower cost of capital, but this relationship holds only for firms domiciled in countries with a weaker legal environment. In addition, these firms should not only increase their ESG score to create a more sustainable environment but also to reduce their cost of debt. Environmental and social factors have a significantly negative impact on the cost of capital only in countries with a weaker legal environment, while the governance component positively impacts the cost of capital by allowing firms to borrow more.

Research limitations/implications

There is not yet a standardized taxonomy to define ESG, making the study dependent on commercial data providers.

Practical implications

The new insights can be used by companies domiciled in countries with weaker legal environments to reduce their cost of capital. The results also allow us to know on which components of the ESG score to focus. It can also help policymakers, specifically those in countries with a weaker legal environment, to provide incentives to further stimulate ESG investments and disclosure, thereby contributing to a more sustainable society.

Social implications

To achieve the sustainable development goals put forward by the United Nations, it is important for firms to invest in ESG projects. It is nevertheless insightful to know whether these ESG investments, which are currently observed as a cost, also provide benefits to firms and in which countries. If firms clearly see the advantages of investing in ESG projects, they are likely to proactively engage in them.

Originality/value

This article is the first, to the best of the authors’ knowledge, to focus on 17 European countries, thereby capturing divergent legal environments. This setting allows us to answer the main novel research question, namely, whether the ESG score can act as a substitute for the legal environment in which the company is domiciled. The article also goes further than previous articles by examining whether the effect is because of the environmental, social and/or governance component and whether these impact the components of the weighted cost of capital, namely, the cost of equity, the cost of debt, the beta or the leverage ratio of the companies.

Details

Sustainability Accounting, Management and Policy Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2040-8021

Keywords

Article
Publication date: 8 July 2014

Selena Killick, Anne van Weerden and Fransje van Weerden

What is the key to library user satisfaction? Can LibQUAL+® help in the quest for delivering a quality library service? The purpose of this paper is to present international…

Abstract

Purpose

What is the key to library user satisfaction? Can LibQUAL+® help in the quest for delivering a quality library service? The purpose of this paper is to present international research into library customer satisfaction as measured by the LibQUAL+® survey methodology. Commonalities of satisfaction and dissatisfaction have been identified which influence the customers overall view of the library. This knowledge can be used to further increase customer satisfaction through targeting these areas for service improvement.

Design/methodology/approach

The LibQUAL+® results from SCONUL Libraries, Utrecht and Leiden Universities were analysed to explore the differences between customers who were very satisfied, and those who were very dissatisfied, with the service. Results from each of the three dimensions of service quality were reviewed separately. The survey results from respondents who had given a high satisfaction mean score to one of the three dimensions were analysed to assess if they had also given high satisfaction mean scores overall. This process was then repeated for those who had given low satisfaction mean scores.

Findings

Respondents with high satisfaction mean scores in the Information Control dimension were discovered to have the largest positive scores for the overall average perceived scores, indicating they are the most satisfied customers. When reviewing the surveys with low satisfaction mean scores in the Affect of Service dimension it was discovered that these respondents also had the largest negative scores for the overall average perceived scores, indicating they are the most dissatisfied customers. The findings show that both information resources and customer service affects the overall opinion of the library service for all customer groups.

Research limitations/implications

Good information resources has a positive effect on customers’ opinions of the library just as much as poor service from library staff has a detrimental effect. Any conclusions drawn from these findings should recognise that the research is limited to measuring service quality within the confines of the LibQUAL+® survey methodology. The research has not investigated the reasons for the commonality, nor do these averages say anything about the motivation for each individual respondent to give these scores in the survey.

Practical implications

Statistical analyses confirm that these findings hold for every user group. Therefore, for the library manager seeking to deliver a quality library service it will be important to take both of these factors into account and deliver information not only in a professional, but also in a helpful manner.

Originality/value

Although based on previous research, the extension of the analysis from an institutional level to an international consortia level strengthens the initial research conclusions. The findings, implications, and conclusions are valuable to library managers seeking to improve the customer perceptions of their library service, providing evidence of factors that influence customers’ opinions.

Details

Performance Measurement and Metrics, vol. 15 no. 1/2
Type: Research Article
ISSN: 1467-8047

Keywords

Article
Publication date: 23 March 2010

Mahi Al Tehewy, Mostafa El Houssinie, Nahla Abou El Ezz, Mohamed Abdelkhalik and Samia El Damaty

Intensive care unit performance evaluation is usually affected by variations in the severity of inpatients' health status. This paper aims, therefore, to standardize two…

Abstract

Purpose

Intensive care unit performance evaluation is usually affected by variations in the severity of inpatients' health status. This paper aims, therefore, to standardize two performance measures: intensive care unit survival and length of stay using the Acute Physiology and Chronic Health Evaluation II (APACHE II) severity of illness score.

Design/methodology/approach

A records study in three Ain Shams University Hospital intensive care units, from January 1‐December 31, 2003 was carried out to examine illness severity effect using APACHE II, length of stay and survival. Retrospective data were used to model length of stay in days and the survival using the APACHE II score as a predictor. This was followed by a prospective study to monitor the standardized measures in two intensive care units for one year.

Findings

APACHE II scores predicted length of stay of those who were discharged and control charts for severity‐adjusted length of stay were drawn up. The APACHE II score predicted survival for those with APACHE II score >16. The model is significant with a specificity of 89.9 percent while sensitivity was 25 percent. Control charts for severity‐adjusted mortality were drawn up to monitor mortality.

Research limitations/implications

Only 60 percent of the files examined in the retrospective part of the study had enough data to calculate APACHE II scores.

Practical implications

Standardized APACHE II severity of illness score can monitor intensive care unit length of stay and mortality.

Originality/value

The paper underlines the need to implement a standardized measurement system to evaluate intensive care patient outcomes.

Details

International Journal of Health Care Quality Assurance, vol. 23 no. 3
Type: Research Article
ISSN: 0952-6862

Keywords

Book part
Publication date: 1 August 2004

Crystal B Howard and H.Lee Swanson

This chapter reviews some of our most recent research as to whether the cognitive performance of reading disabled and poor readers can be separated under dynamic assessment…

Abstract

This chapter reviews some of our most recent research as to whether the cognitive performance of reading disabled and poor readers can be separated under dynamic assessment procedures. We describe results related to junior high school students (mean chronological age of 12 years) with reading disabilities, poor readers, and skilled readers. Students were administered intelligence, reading and math tests, and working memory (WM) measures (presented under static and dynamic testing conditions). The results thus far show that: (1) dynamic assessment measures (maintenance scores) contributed unique variance to predicting reading; and (2) poor readers and skilled readers were more likely to change and maintain gains under the dynamic testing conditions than students with reading disabilities. Some discussion was given to developing a valid classification of reading disabilities.

Details

Research in Secondary Schools
Type: Book
ISBN: 978-0-76231-107-1

Book part
Publication date: 4 April 2016

Eric B. Schneider

This paper is the first to use the individual level, longitudinal catch-up growth of boys and girls in a historical population to measure their relative deprivation. The data is…

Abstract

This paper is the first to use the individual level, longitudinal catch-up growth of boys and girls in a historical population to measure their relative deprivation. The data is drawn from two government schools, the Marcella Street Home (MSH) in Boston, MA (1889–1898), and the Ashford School of the West London School District (1908–1917). The paper provides an extensive discussion of the two schools including the characteristics of the children, their representativeness, selection bias and the conditions in each school. It also provides a methodological introduction to measuring children’s longitudinal catch-up growth. After analysing the catch-up growth of boys and girls in the schools, it finds that there were no substantial differences between the catch-up growth by gender. Thus, these data suggest that there were not major health disparities between boys and girls in late-nineteenth-century America and early-twentieth-century Britain.

Details

Research in Economic History
Type: Book
ISBN: 978-1-78635-276-7

Keywords

Book part
Publication date: 24 October 2019

Shreyas S. Limaye and Christina M. Mastrangelo

Healthcare-associated infections (HAIs) are a major cause of concern because of the high levels of associated morbidity, mortality, and cost. In addition, children and intensive…

Abstract

Healthcare-associated infections (HAIs) are a major cause of concern because of the high levels of associated morbidity, mortality, and cost. In addition, children and intensive care unit (ICU) patients are more vulnerable to these infections due to low levels of immunity. Various medical interventions and statistical process control techniques have been suggested to counter the spread of these infections and aid early detection of an infection outbreak. Methods such as hand hygiene help in the prevention of HAIs and are well-documented in the literature. This chapter demonstrates the utilization of a systems methodology to model and validate factors that contribute to the risk of HAIs in a pediatric ICU. It proposes an approach that has three unique aspects: it studies the problem of HAIs as a whole by focusing on several HAIs instead of a single type, it projects the effects of interventions onto the general patient population using the system-level model, and it studies both medical and behavioral interventions and compares their effectiveness. This methodology uses a systems modeling framework that includes simulation, risk analysis, and statistical techniques for studying interventions to reduce the transmission likelihood of HAIs.

Book part
Publication date: 29 January 2018

Huat Bin (Andy) Ang and Arch G. Woodside

This study applies asymmetric rather than conventional symmetric analysis to advance theory in occupational psychology. The study applies systematic case-based analyses to model…

Abstract

This study applies asymmetric rather than conventional symmetric analysis to advance theory in occupational psychology. The study applies systematic case-based analyses to model complex relations among conditions (i.e., configurations of high and low scores for variables) in terms of set memberships of managers. The study uses Boolean algebra to identify configurations (i.e., recipes) reflecting complex conditions sufficient for the occurrence of outcomes of interest (e.g., high versus low financial job stress, job strain, and job satisfaction). The study applies complexity theory tenets to offer a nuanced perspective concerning the occurrence of contrarian cases – for example, in identifying different cases (e.g., managers) with high membership scores in a variable (e.g., core self-evaluation) who have low job satisfaction scores and when different cases with low membership scores in the same variable have high job satisfaction. In a large-scale empirical study of managers (n = 928) in four (contextual) segments of the farm industry in New Zealand, this study tests the fit and predictive validities of set membership configurations for simple and complex antecedent conditions that indicate high/low core self-evaluations, job stress, and high/low job satisfaction. The findings support the conclusion that complexity theory in combination with configural analysis offers useful insights for explaining nuances in the causes and outcomes to high stress as well as low stress among farm managers. Some findings support and some are contrary to symmetric relationship findings (i.e., highly significant correlations that support main effect hypotheses).

Details

Improving the Marriage of Modeling and Theory for Accurate Forecasts of Outcomes
Type: Book
ISBN: 978-1-78635-122-7

Keywords

Abstract

Details

The Emerald Review of Industrial and Organizational Psychology
Type: Book
ISBN: 978-1-78743-786-9

Book part
Publication date: 8 August 2017

Terri Summey

To explore the feasibility of utilizing the Bar-On mixed model of emotional–social intelligence as a framework for the competencies and traits needed for reference and information…

Abstract

To explore the feasibility of utilizing the Bar-On mixed model of emotional–social intelligence as a framework for the competencies and traits needed for reference and information services librarians. Through a survey of the literature, the author created a baseline list of competencies, which was compared and contrasted with the abilities, traits, and competencies that comprise the Bar-On model of emotional–social intelligence. The author conducted a pilot study with a small group (n = 10) of reference and user services librarians who took the EQ-i 2.0. The competencies and traits of reference and user services librarians identified in the literature compare favorably with those measured by the EQ-i 2.0. Overall, a majority of the participants (70%) obtained a total score on the EQ-i 2.0 in the mid or high range. Composite scales with the highest overall mean scores were decision-making and self-perception. Subscales with the highest scores included the following: impulse control, self-actualization, social responsibility, problem solving, and reality testing. As a pilot study, it was conducted using a small population of academic reference and user services librarians. Further research should be conducted utilizing a larger population of reference and user services librarians or librarians who have been recognized as exemplary in reference librarianship. The findings of this study could assist pre-service and in-service reference and user services librarians in further developing their emotional–social intelligence competencies and abilities by identifying areas where improvements could occur.

Book part
Publication date: 25 August 2006

Randall W. Eberts and Kevin M. Hollenbeck

This paper examines the effect of charter schools on student achievement in Michigan using a matched student dataset. Proponents of charter schools argue that by applying market…

Abstract

This paper examines the effect of charter schools on student achievement in Michigan using a matched student dataset. Proponents of charter schools argue that by applying market pressure to traditional public schools, having the freedom and incentives to apply innovative curricular and instructional ideas, and offering students a choice in the schools they attend, charter schools can raise student achievement. Studies of the effect of charter schools on student achievement have been mixed, however. Methodologies vary widely depending upon the availability of data. Some studies track the same students as they transfer between charter schools and traditional schools; others rely on cross-sectional student or building-level data. We construct a dataset that matches the scores of the same student taking tests in two consecutive years. Estimating a value-added education production function, we find that charter schools are at a disadvantage to traditional public schools by an average of 0.2 standard deviations. These findings depend upon proper matching of students across school types, which in this case is accomplished by using prior test scores as a control variable and as a way to segment the sample. We also find that charter schools run by for-profit companies have an advantage over those run by not-for-profits and that charter schools improve the longer they are in operation.

Details

Improving School Accountability
Type: Book
ISBN: 978-1-84950-446-1

1 – 10 of over 98000