Search results

With the increasing understanding of stakeholders on sustainability aspects for the business, companies are nowadays paying more attention to environmental and social issues. This study aims to examine the relationship between Environmental, Social, Governance (ESG) Index and firms’ value. Moreover, this study also examines how the controversy score influences the company’s value. The authors employ a dataset of 1.356 companies from 22 countries in Asia which representing the Asian market from 2014 to 2018. This study shows that ESG index score and controversy score are statistically significant, affecting the firms’ value, measured by Tobin’s Q. From the individual tests, the findings of this study indicate that ESG-environmental, ESG-social, and ESG-governance, individually affect the firms’ value. This study suggests that providing disclosure on ESG aspects is essential, not only to increase company value but also to show the company resilience and sustainability. On the other hand, ESG controversy score surprisingly indicates a positive relationship with the company value. The result implies that controversies provide a positive signal to the investor because controversies could provide a signal to the public of companies’ willingness to have transparency and accountability.

Despite all the attempts developed so far to measure corporate social performance in the last decades, a standard metric for it is still missing. In this work, the author tries to understand why is this the case. To do so, the author has reviewed 69 relevant metrics developed in the literature since the 1970s until today, covering approaches based on social, reputational, and environmental ratings, as well as several others constructed ad hoc by reputated scholars. The author analyzes each of them through a double optics, checking if they meet the minimum requirements to be considered standard and truly social. The research reveals that the main factor that prevents such a standard is the lack of truly social orientation of the existing metrics.

In the context of the coronavirus disease 2019 (COVID-19) crisis, this article aims to analyze the resilience of family businesses in a developing country like Cameroon. As such, this study seeks to fill two gaps in the literature: first, by comparing the financial and social performance of family companies with those of non-family companies not listed on the stock exchange, and second, by comparing performance across family-run companies, according to the companies' mode of leadership in Cameroon, a developing country affected by COVID-19 like the rest of the world.

Based on the literature review, the authors developed empirical models to identify the variables which influence the financial and social dimensions of business performance. These models were tested with multilinear regressions, using data collected from questionnaires distributed to 466 firms, of which 212 were family firms and 254 non-family firms. The authors completed our analyses with mean comparison tests to demonstrate whether our results are significantly different between family and non-family firms.

The authors' multiple regressions and tests produced two main results – the financial and social performance of all Cameroonian firms declined sharply during the crisis, and with the firms' financial performance hit hardest, family firms have been more resilient to the crisis in terms of financial and social performance than non-family firms. The weak governance and social protection system, as well as an inefficient legal system, do not seem to negatively affect the performance of these Cameroonian firms – the effects of the COVID-19 pandemic on the performance of family firms were better managed in firms where family members are actively involved in management or control through family members' strong representation on the board of directors (BD).

The two main limitations of this study concern the governance of these companies included and the failure to take the characteristics of the manager into account. Investigating other governance variables, such as the composition of the BD or the participation of employees in the capital, would enable us to refine the authors' interpretations of the companies' financial and social performance. Another limitation is the fact that the characteristics of the manager were not considered, especially when the manager is a family member. Exploring this variable would make studying the generational aspect of family businesses possible.

Family companies are more resilient to crisis because of the companies' long-term focus, which also encourages the companies to maintain the companies' social policy and to avoid redundancies as far as possible. Weak systems of governance and social protection, as well as an ineffective legal system, do not negatively affect the performance of Cameroonian family companies. The results also suggest that family shareholders should become more involved in the management and control of family's firms to make the firms financially and socially resilient and in so doing drastically reduce the impact of crises.

This study shows, in particular, how family firms are more socially resilient than other firms in times of crisis (by resorting less often to redundancies). Family firms should, therefore, arguably benefit the most from public support during crises.

The authors' research makes two main contributions to the literature on family businesses. The results first of all show that Cameroonian family firms have thus far performed better financially and socially during the COVID-19 period than non-family firms. Second, this research focuses on differences in performance based on family business management types during this specific crisis period. The results suggest that the most resilient family firms, in terms of performance, are those in which the family is involved in the management or control of the BD.

This study aims to investigate the impact of corporate social performance (CSP) on financial performance of manufacturing companies listed on the Tehran Stock Exchange and thus contributes to understanding the significance of socially responsible investments for companies.

The CSP was measured by a questionnaire composed of 53 items related to customers’ social performance of the firm, workers and environmental and community dimensions. Besides, corporate financial performance was measured by two measures, return on equity (ROE) and return on assets (ROA). In this study, 74 observations were investigated from 2006 to 2012. The data were analyzed using the multiple regression method.

The results of the study revealed that customers’ social performance of the firm has a negative impact on ROA of the firm. Besides, social performance of the workers dimension of the firm has a positive impact on ROA. The results, also, showed that none of the CSP dimensions affected the ROE of the firms.

The present study is useful for managers to develop future social performance policies that may lead to better financial performance in the long-term. The paper, also, contributes to the corporate social responsibility literature, as it presents empirical evidence of the effects of CSP on the financial performance in the manufacturing sector of developing countries.

The purpose of this paper is to investigate the relationship between the ISO 26000 (global corporate social responsibility standard) adoption and financial performance. The current study aims to explore whether ISO 26000 social responsibility standard adoption has an impact on financial performance.

The study is based on a sample consisting of French companies listed on the CAC-All-Tradable index for the period 2010-2017. This study is motivated by using panel data estimated feasible generalized least squares method.

The results show that that good corporate governance can improve the financial performance. This positive impact is also noticed in the case of labor relations and conditions, environment and community involvement. However, it does not apply to human rights, fair operating practices and consumer issues, as there is no significant relationship between these dimensions and the financial performance.

The findings may be of interest to the academic researchers, investors and regulators. For academic researchers, it is interested in discovering how the adoption of ISO 26000 can improve financial performance. For investors, the results show that it is appropriate for different countries to adopt the ISO 26000 guidelines and introduce societal practices in their activities.

This paper extends the existing literature by examining the effect of the ISO 26000 standard for financial performance in the French context. The study of corporate social responsibility through its seven societal dimensions has enabled us to understand the guidelines relating to the ISO 26000 standard.

The notion of social performance of the company (SPC) is a fundamental concept of the research on ethics of business and work on company-society relationships. The study raises several debates concerning SPC’s determinants. The purpose of this paper is to provide a framework of SPC along with its social and technological determinants. After identification of the determinants, the authors have searched through a managerial perspective to recognize the effects of these determinants on SPC.

Content analysis of 18 semi-structured interviews with the HR managers, and statistical analysis of data collected from Managers/HR Managers (n=250) working in private and public sector banks of Tunisia was undertaken. Structural equation modeling (SEM), has been used to test the hypotheses and statistically validate the proposed relationships. Data for the study were collected online.

Results indicate a strong interrelationship between SPC and its determinants. Such an interrelation aims to enrich the framework of analysis of the SPC by considering the action of social responsibility of the company, organizational commitment and managers’ characteristics on one hand, and human resources information system, the practices of knowledge management, and facilitating conditions for the use of the information and communication technologies on the other.

The study reconciles various perspectives in the SPC literature and presents a comprehensive model of SPC by identifying its determinants – social and technological, which could stimulate the SPC in Tunisian context.

This paper aims to present a deep understanding of how social media affects organisations’ sustainability performance, using environmental, social and governance (ESG) factors. Particularly, this paper assumes the existence of a causal relationship between organisations’ sustainability performance and the use of their social media profile (i.e. Twitter).

The authors used a multivariate regression with an explorative approach. Using Thomson Reuters Eikon, the authors composed a sample of 115 public EU companies with a headquarter in Europe operating in the “energy” and “utilities” sectors. The authors collected ESG-related, financial and Twitter-related data covering the period 2016–2019.

The study findings emphasise the existence of a statistically significant and positive relationship between social media profiles (i.e. Twitter) and companies’ sustainability performance. Findings show that ESG-oriented companies use their Twitter profile more as a tool for achieving a higher level of legitimation rather than for managing their sustainability strategy and related performance. Therefore, social media contribute more to the construction of companies’ CSR identity than the management of analytic aspects of sustainability performance. The longevity of companies’ profiles is the variable mostly showing a causal relationship not only with the general measure of companies’ sustainability performance but also with its pillars and sub-pillars.

This research is original in showing academics, practitioners and policymakers results on the impact of different modalities of interaction (retweets, replies, likes and quotes) between organisations and stakeholders by using social media on sustainability performance.

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

The purpose of this study is to investigate whether the descriptive, instrumental, and strategic approaches to corporate social responsibility (CSR) are related to corporate performance (CP) and to determine the nature of this relationship, if any.

Using data collected by KLD Research Analytics and Global Reporting Initiative (GRI), the study examines the association between companies' choice of approaches to the CSR and CSR‐CP relationship.

Results of this study indicate that each of the three approaches to CSR – descriptive, instrumental, and strategic – are associated with CP, but in different ways. While the instrumental approach to CSR has a positive association with short‐term measures of CP, the strategic approach is associated with short‐term and medium‐term measures of CP, and the descriptive approach has no definite association with CP at all.

This study integrates the prevailing justifications for CSR with the taxonomy of approaches to CSR – instrumental, descriptive and strategic – suggested in the literature. It has been argued that these frameworks influence managers' conception of what constitutes effective stakeholder management and make a difference in how decision makers in an organization think and act in crafting the company's social initiatives and in deciding what the company aims to achieve through these initiatives. By examining the association between companies' approaches to CSR and stakeholder management of the CSR‐CP relationship, the study offers another perspective of the ongoing debate in the social accounting literature about the accountability relationships between business and society.

This study aims to examine the impact of environmental sustainability, social sustainability and corporate reputation on the business performance of energy companies operating in an emerging market.

A self-administered questionnaire was distributed to 400 managers in top and middle-level positions in energy companies located in Kuala Lumpur, Malaysia were collected through an online survey. These managers had a strong understanding of the operational aspects of the companies and possessed good knowledge of the company’s performance. The collected data were analyzed using multiple regression analysis to assess the hypothesized relationships.

The findings reveal significant influences of corporate reputation, environmental sustainability and social sustainability on the business performance of energy companies operating in an emerging market. Notably, corporate reputation emerges as the primary predictor, underscoring the significance of emphasizing the fundamental aspects of companies such as superior products or services, effective management practices and investment quality. A strong reputation is essential for attracting investors, customers and other stakeholders by meeting their expectations for high-quality products or services. It serves as a crucial factor in establishing trust and credibility, which are vital for sustained success in the market.

Energy companies should proactively integrate corporate reputation into their operational strategies to enhance business performance. Furthermore, they should develop and execute comprehensive environmental and social sustainability initiatives within their organizations. By doing so, they can effectively enhance both financial and non-financial performance while fostering a culture of employee engagement aimed at further enhancing productivity.

This study stands out as a unique and significant contribution to theory by using the triple bottom line framework as the underlying theory and integrating corporate reputation into the proposed framework. It represents a novel approach, particularly within the context of energy companies operating in an emerging market. This research serves as a valuable complement to prior studies primarily conducted in developed (Western) economies, expanding the knowledge base in this field.