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Book part
Publication date: 16 December 2016

Shipeng Yan and Fabrizio Ferraro

Socially responsible investing (SRI) funds depart from mainstream finance by incorporating environmental, social, and governance considerations, but their success varies across…

Abstract

Socially responsible investing (SRI) funds depart from mainstream finance by incorporating environmental, social, and governance considerations, but their success varies across regions. By using a historical comparative case design, we identify an empirically puzzling phenomenon in China: despite an initially favorable resource environment and the presence of socially skilled institutional entrepreneurs, SRI wanes over time in Hong Kong but survives in Mainland China where initial resource endowments and actors’ social skills were inferior. By comparing four periods of SRI development, we reveal how state sustainable development policies, a change in the institutional context, led unintentionally to a shared orientation and a public pool of resources, which sustained the SRI niche. Our paper contributes to research on market emergence, institutional change, and cultural entrepreneurship.

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Book part
Publication date: 16 December 2016

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How Institutions Matter!
Type: Book
ISBN: 978-1-78635-431-0

Book part
Publication date: 16 December 2016

Abstract

Details

How Institutions Matter!
Type: Book
ISBN: 978-1-78635-431-0

Book part
Publication date: 15 December 2016

Stefan Jonsson and Michael Lounsbury

Recent empirical and theoretical developments related to the microprocesses of institutional logics have helped to cultivate a powerful theory of agency. We build on these…

Abstract

Recent empirical and theoretical developments related to the microprocesses of institutional logics have helped to cultivate a powerful theory of agency. We build on these developments to show how the institutional logics perspective can shed light on important questions related to frame construction and how institutions matter. In particular, we show how the emergence of an economic democracy frame in post-war Sweden generated different efforts to define that frame with concrete ideas and practices linked to different logics – socialism and neoliberalism. We show how socialists tried to define economic democracy as requiring a radical transformation in the nature of ownership and control embedded in the innovative financial practice of wage earner’s funds. In contradistinction, conservatives drew on neoliberal ideas and extant mutual fund practices to construct alternative meanings and practices related to economic democracy that enrolled citizens in Capitalism without challenging extant Capitalist ownership structures. While mutual funds and wage earner’s funds initially existed in a state of parabiosis – existing side by side without much interrelationship – struggles over the meaning of economic democracy led these practices to become competing solutions in a framing contest. Implications for the study of institutional logics, frames and the social organization of society are discussed.

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How Institutions Matter!
Type: Book
ISBN: 978-1-78635-429-7

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Book part
Publication date: 20 June 2024

Ling Tuo and Shipeng Han

This chapter proposes that tax education, proxied by Master of Science in Taxation (MST) degree, has substantial influence on chief financial officers’ (CFOs) knowledge, skill…

Abstract

This chapter proposes that tax education, proxied by Master of Science in Taxation (MST) degree, has substantial influence on chief financial officers’ (CFOs) knowledge, skill sets, values, and cognitive preferences and further influences their decisions in tax reporting. By empirically examining the relation between CFOs with MST degree and their companies' tax compliance based on US data between 2004 and 2016, we find that CFOs with MST degree are associated with improved tax compliance, suggesting that US MST education, beyond general accounting education, cultivates graduates with higher levels of professionalism and ethics in the field of taxation. Moreover, we find that CFOs' tenure, age, and compensation influence the relation between tax education and tax compliance, suggesting company's compensation and employee policies influence executives' tax decisions. Finally, we find that pressures from financial reporting and CEOs with accounting educational background could alleviate the role of CFOs with accounting educational background in tax reporting, while institutional owners could strengthen the role of CFOs. This chapter provides evidence regarding the social implication of MST program and has important managerial implication to tax compliance, executive recruitment, and corporate governance.

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