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Article
Publication date: 14 June 2021

Muttanachai Suttipun and Thanyaorn Yordudom

This study aims to survey the extent, level and trend of environmental, social and governance (ESG) disclosures of top50 listed companies from Thailand, to test the different…

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Abstract

Purpose

This study aims to survey the extent, level and trend of environmental, social and governance (ESG) disclosures of top50 listed companies from Thailand, to test the different level of ESG disclosures of the companies between high profile industry and low profile industries and to examine the impact of ESG disclosures on the market reaction of top50 listed companies in Thailand.

Design/methodology/approach

Population and sample were top50 listed companies from the Stock Exchange of Thailand. Using corporate annual reports from 2015 to 2019, content analysis by word counting was used to quantify the extent, level and trend of ESG disclosures, while the market reaction was collected by the average stock price. Descriptive analysis, independent sample t-test, correlation matrix and multiple regression were used to analyze the data.

Findings

There was an increased level of ESG disclosures during the period being study. The most common ESG disclosures were social disclosure following by governance and environmental disclosures. Moreover, there were different levels of environmental disclosure of top50 listed companies between high and low profile industries, while no different levels of social and governance disclosures between high and low profile industries were found. Finally, the study found that environmental and social disclosures had a positive impact on market reaction, while there was a negative impact of governance disclosure on market reaction.

Originality/value

Thai investors can use ESG disclosures for their decision-making on investment.

Details

Journal of Financial Reporting and Accounting, vol. 20 no. 3/4
Type: Research Article
ISSN: 1985-2517

Keywords

Book part
Publication date: 27 September 2011

Narjess Boubakri, Olfa Hamza and Maher Kooli

Purpose – Study the firm-level and country-level determinants of US institutional investors' holdings in American Depositary Receipts (ADRs) from emerging…

Abstract

Purpose – Study the firm-level and country-level determinants of US institutional investors' holdings in American Depositary Receipts (ADRs) from emerging markets.

Methodology/approach – We use a sample of 112 firms from emerging markets that listed as ADRs between 1990 and 2005. Rather than adopting the issuer's perspective, we take in this study the point of view of the investor and we focus on the US institutional investors' participation in ADR firms.

Findings – We find that institutional investors hold higher stakes in foreign firms that are listed on more restrictive exchanges, in large, privatized, more liquid, and more transparent firms. Mutual investors and other institutional investors also prefer firms from countries with weaker institutional environments and from civil law legal tradition. Controlling for country-level determinants increases significantly the explanatory power of the model.

Social implications – Our results have important implications for firms from emerging markets seeking to attract foreign institutional investors.

Originality/value of the chapter – We focus on the motivations of investors when they choose to invest in the ADR, rather than on the ADR issuer motivation. In addition, we consider all types of institutional investors that acquire a participation in an ADR firm.

Details

Institutional Investors in Global Capital Markets
Type: Book
ISBN: 978-1-78052-243-2

Keywords

Article
Publication date: 5 March 2024

Sirimon Treepongkaruna and Muttanachai Suttipun

The United Nations' sustainable development goals (SDGs) put together a global framework in an attempt to address environmental, social and governance (ESG) concerns. Measuring a…

Abstract

Purpose

The United Nations' sustainable development goals (SDGs) put together a global framework in an attempt to address environmental, social and governance (ESG) concerns. Measuring a company’s contribution to the SDGs relies heavily on ESG reporting. This paper aims to examine the impact of ESG reporting on the corporate profitability of listed companies in Thailand over the period of 2019–2021.

Design/methodology/approach

Using 147 listed firms in the ESG group, content analysis was used to quantify the ESG reporting (within 11 themes), while corporate profitability was measured by return on asset and return on equity. Descriptive analysis, correlation matrix and panel regression are used to analyze the data of this study.

Findings

Consistent with the legitimacy, stakeholder and signaling theories, the authors found a statistically significant and positive impact of ESG reporting on corporate profitability in Thailand.

Originality/value

The findings highlight the importance of incorporating ESG considerations into companies’ reporting and decision-making processes, as these can enhance firm profitability and performance, attract stakeholders, improve their competitive advantage and step toward sustainability.

Details

Journal of Financial Reporting and Accounting, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1985-2517

Keywords

Article
Publication date: 28 March 2023

Satish Kumar and Geeta Singh

In this paper, the authors examine the relation between cross-listing and the noncompliance with the mandatory corporate social responsibility (CSR) expenditure regulation in…

Abstract

Purpose

In this paper, the authors examine the relation between cross-listing and the noncompliance with the mandatory corporate social responsibility (CSR) expenditure regulation in India, the first country to legally mandate the CSR expenditure.

Design/methodology/approach

The authors apply panel logit and ordinary least square (OLS) regression models to examine the impact of cross-listing on the noncompliance with the mandatory CSR expenditure regulation because panel regression has lesser multicollinearity problems and has the benefit of controlling for individual or time heterogeneity mostly present in cross-section or time series data.

Findings

Using a sample of 1,027 listed Indian firms, the authors show that the cross-listed firms are more likely to comply with the mandatory CSR expenditure than non-cross-listed firms. The authors further show that this relation holds only for those firms which are exposed to higher agency problems, for firms affiliated to business groups and for firms operating in high litigation risk industries. Finally, the authors show that cross-listed firms complying with the mandatory CSR expenditure command more valuation premiums.

Practical implications

This study’s results suggest that the noncompliance of the Indian firms with the mandatory CSR expenditure regulation comes down once they cross-list their shares in the US or the UK since such firms have to bond to the stronger corporate governance standards of the listed country. Hence, the authors recommend that merely making the investment in CSR activities mandatory may not serve the purpose and the convergence in corporate governance as well as compliance with the CSR expenditure can be achieved through cross-listing in US and UK markets.

Originality/value

One, the authors analyze the effect of cross-listing on the likelihood and magnitude of noncompliance with the CSR mandate. Two, this study is based in India where CSR expenditure has been made mandatory under the Companies Act, 2013. Using CSR mandate as a natural experiment, the authors have access to a richer data set on CSR in terms of the actual expenditure made by the company on CSR activities and the mandatory amount to be spent in a particular year.

Details

International Journal of Managerial Finance, vol. 20 no. 1
Type: Research Article
ISSN: 1743-9132

Keywords

Article
Publication date: 5 March 2018

Celia de Anca and Salvador Aragón

The purpose of this paper is to explore inhibitors preventing Spanish women from attaining positions of leadership.

Abstract

Purpose

The purpose of this paper is to explore inhibitors preventing Spanish women from attaining positions of leadership.

Design/methodology/approach

Using a qualitative approach based on focus groups and structured personal interviews on 42 Spanish male and female executives, the study tests the main gender normative expectations applicable to specific work and personal roles.

Findings

The findings suggest that there is a significant consensus about the existence of traditional and emerging models. Research also suggests there are still clear gaps between traditional and emerging roles that are easily identified and recognized. Contrary to expectations, the research suggests there is no a clear model of emerging gender roles, and instead considerable diversity in the construction of individual aspirational models.

Research limitations

This is a first exploratory research limited to a reduced sample in the Spanish context. To confirm the findings, the research will benefit from a quantitative approach based on larger samples. Moreover, additional surveys in different cultural contexts will provide a broader understanding of the proposed research questions.

Practical implications

The gender gap framework can enable policy makers to correctly diagnose the barriers women face in their professional lives and to come up with efficient instruments to correct existing inequalities.

Originality/value

The principal contribution of this paper is that it provides important insights into traditional and aspirational gender gaps that constitute one important internal barrier for women’s development.

Objetivo

El objetivo de este artículo es explorar los inhibidores que impiden a la mujer profesional española alcanzar puestos de liderazgo.

Diseño/ Metodología/ Enfoque

El artículo utiliza un enfoque cualitativo, basado en grupos enfocados y entrevistas personales estructuradas a 42 ejecutivos españoles, hombres y mujeres, con el propósito de examinar las principales expectativas normativas de género correspondientes a funciones y comportamientos específicos en el trabajo y en la vida personal.

Resultados

Los resultados apuntan a un significativo consenso sobre la existencia de modelos tradicionales y emergentes. La investigación asimismo comprueba la clara existencia de brechas de roles de género tradicionales y emergentes que pueden fácilmente reconocerse e identificarse. Contrariamente a lo esperado, los resultados de la investigación indican que no existe un modelo claro de roles de género emergente, sino que existe una considerable diversidad en la construcción de modelos individuales aspiracionales.

Limitaciones

El presente artículo es una primera investigación exploratoria limitada a una muestra reducida en el contexto español. Ayudaría a confirmar los resultados, un enfoque cuantitativo basado en muestras más amplias. Por otra parte, encuestas adicionales en otros contextos culturales proporcionaría una mejor y más amplia comprensión de las cuestiones objeto de la investigación.

Implicaciones prácticas

El marco de brecha de género, que introduce esta investigación, puede ayudar a los responsables políticos, a diagnosticar correctamente algunas de las barreras que enfrenta la mujer en su trayectoria profesional, y poder así elaborar instrumentos eficientes para corregir las desigualdades existentes en la actualidad.

Originalidad/ Valor

La contribución principal de este artículo es la de proporcionar nuevos conocimientos claves para entender brechas de género tradicionales y aspiracionales que hoy por hoy representan una importante barrera interna para el desarrollo de la mujer

Book part
Publication date: 12 December 2011

Natsuko Higa

This chapter focuses on donating to the church on the part of Wesleyan Methodists in the Kingdom of Tonga. It illuminates the dynamism and tension emerging between religious faith…

Abstract

This chapter focuses on donating to the church on the part of Wesleyan Methodists in the Kingdom of Tonga. It illuminates the dynamism and tension emerging between religious faith and economic practice. Quantitative analysis of income and expenditures are combined with qualitative observations of villagers' actions and discourse in this microanalysis of donating events, which seeks to comprehend the situation from point of view of the local adherents. It concludes that what might appear in Tonga on the surface to be a purely competitive practice is actually a complex blend of competition and cooperation, with the latter probably having a larger role than the former in these transactions.

Details

The Economics of Religion: Anthropological Approaches
Type: Book
ISBN: 978-1-78052-228-9

Article
Publication date: 30 August 2011

Matti Karvonen and Tuomo Kässi

Fusion of new technologies and convergence has led to the emergence of new industries. This paper aims to present experiences of the concept of convergence from a patent citation

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Abstract

Purpose

Fusion of new technologies and convergence has led to the emergence of new industries. This paper aims to present experiences of the concept of convergence from a patent citation analysis viewpoint. The main objective of the paper is to develop a tool for anticipating the emerging new industry segments.

Design/methodology/approach

The patent analysis methods have been used to get an idea of the stage of new industry segment in the intersection of the paper and electronics industries. The authors distinguish self‐citations from external citations, and further divide citations into two groups: within the industry and beyond the industry. Backward citations are used to evaluate the spill‐overs between industries and forward citations are used to evaluate the significance of technology‐based industry transformation.

Findings

The recognized trends of the trajectory changes and growing overlaps of technological fields show indications for possible convergence between industries. Differentiating between external and self‐citations within and beyond industry citations helps to provide more comprehensive prospects of a future technology competitive environment.

Research limitations/implications

This study evaluated technology development in converging environments. It would be a scientifically significant contribution if the novel patent analysis methods could be used effectively for creating understanding in advance about the technology development and industry convergences.

Originality/value

The presented patent citation methodology provides new insights into the analysis of industry evolution, technological innovations and business development related to converging industries and technologies.

Article
Publication date: 24 June 2020

Yilu Zhou and Yuan Xue

Strategic alliances among organizations are some of the central drivers of innovation and economic growth. However, the discovery of alliances has relied on pure manual search and…

234

Abstract

Purpose

Strategic alliances among organizations are some of the central drivers of innovation and economic growth. However, the discovery of alliances has relied on pure manual search and has limited scope. This paper proposes a text-mining framework, ACRank, that automatically extracts alliances from news articles. ACRank aims to provide human analysts with a higher coverage of strategic alliances compared to existing databases, yet maintain a reasonable extraction precision. It has the potential to discover alliances involving less well-known companies, a situation often neglected by commercial databases.

Design/methodology/approach

The proposed framework is a systematic process of alliance extraction and validation using natural language processing techniques and alliance domain knowledge. The process integrates news article search, entity extraction, and syntactic and semantic linguistic parsing techniques. In particular, Alliance Discovery Template (ADT) identifies a number of linguistic templates expanded from expert domain knowledge and extract potential alliances at sentence-level. Alliance Confidence Ranking (ACRank)further validates each unique alliance based on multiple features at document-level. The framework is designed to deal with extremely skewed, noisy data from news articles.

Findings

In evaluating the performance of ACRank on a gold standard data set of IBM alliances (2006–2008) showed that: Sentence-level ADT-based extraction achieved 78.1% recall and 44.7% precision and eliminated over 99% of the noise in news articles. ACRank further improved precision to 97% with the top20% of extracted alliance instances. Further comparison with Thomson Reuters SDC database showed that SDC covered less than 20% of total alliances, while ACRank covered 67%. When applying ACRank to Dow 30 company news articles, ACRank is estimated to achieve a recall between 0.48 and 0.95, and only 15% of the alliances appeared in SDC.

Originality/value

The research framework proposed in this paper indicates a promising direction of building a comprehensive alliance database using automatic approaches. It adds value to academic studies and business analyses that require in-depth knowledge of strategic alliances. It also encourages other innovative studies that use text mining and data analytics to study business relations.

Details

Information Technology & People, vol. 33 no. 5
Type: Research Article
ISSN: 0959-3845

Keywords

Article
Publication date: 28 September 2010

Shao Min and Yang Yi

The paper aims to provide an overview of the e‐resources and services in Tsinghua University Library, Beijing, and describe five campus‐wide user surveys. It states how these user…

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Abstract

Purpose

The paper aims to provide an overview of the e‐resources and services in Tsinghua University Library, Beijing, and describe five campus‐wide user surveys. It states how these user surveys play an important role in service quality enhancement.

Design/methodology/approach

Following a brief history of Tsinghua University Library, a summary of the collections and services developed in recent years is given. The library has made a great effort to learn about users' needs and to improve service delivery through a series of user surveys. The paper describes these surveys, including the conclusions and the improvement measures adopted.

Findings

Feedback gathered from user surveys provides vital information for improving library services. Through these user surveys, the library received a large amount of data to be analysed and a lot of valuable information, it promoted communication with our users, and the librarian's service literacy has also improved.

Practical implications

An overview of user surveys, including methodology, content, organisation, and implementation process, as well as data analysis, might offer reference and practical experience for other university libraries.

Originality/value

User surveys play an important role in the library's service quality enhancement. The paper provides a useful overview and practical experience of the topic.

Details

Program, vol. 44 no. 4
Type: Research Article
ISSN: 0033-0337

Keywords

Abstract

Details

Learning and Teaching in Higher Education: Gulf Perspectives, vol. 11 no. 2
Type: Research Article
ISSN: 2077-5504

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