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1 – 5 of 5Weihua Liu, Zhixuan Chen, Tsan-Ming Choi, Paul Tae-Woo Lee, Hing Kai Chan and Yongzheng Gao
This study aims to explore the impact of carbon neutral announcements on “stock market value” of publicly listed companies in China.
Abstract
Purpose
This study aims to explore the impact of carbon neutral announcements on “stock market value” of publicly listed companies in China.
Design/methodology/approach
The event study approach is adopted. Market, market-adjusted, Carhart four-factor model and a cross-sectional regression model are employed to examine the impacts of carbon neutral announcements on “stock market value” of Chinese companies based on data from 188 carbon neutral announcements.
Findings
Carbon neutral announcements positively impact Chinese shareholder value. Carbon neutral announcements at the strategic level have a more positive and significant impact on Chinese stock market value. Innovative carbon neutral announcements do not significantly cause Chinese stock market reactions. Companies have more positive and significant stock market reactions when the companies make carbon neutral announcements that reflect high supply chain network resilience and heterogeneity and strong supply chain network relationships.
Practical implications
The findings uncover the business value of carbon neutral activities and provide operations managers in developing countries insights into how to improve enterprises' market value by actively implementing carbon neutral activities.
Originality/value
This paper is the first trial to apply an event study to examine the relationship between carbon neutral announcements and Chinese stock market value from the perspective of announcement level and type and supply chain networks. This paper introduces corporate reputation theory and enriches the application of corporate reputation theory in the field of low-carbon environmental protections and supply chains.
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Sanjeev Yadav, Tsan-Ming Choi, Anil Kumar, Sunil Luthra and Farheen Naz
In recent years, sustainable supply chain practices (SSCPs), including corporate social responsibility (CSR), have been recognised as important means of developing firms’…
Abstract
Purpose
In recent years, sustainable supply chain practices (SSCPs), including corporate social responsibility (CSR), have been recognised as important means of developing firms’ sustainability performance (SP). However, empirical findings on the SSCP–SP interaction are inconsistent and even contradictory. This research presents a quantitative meta-analysis that aims to uncover SSCP–SP interactions based on the correlations found in previously published empirical studies.
Design/methodology/approach
Based on the main and moderating variables and selection criteria, 64 sample studies were selected after a systematic literature review and meta-analysis.
Findings
The findings confirm a positive correlation (0.438) between SSCP and SP. The results also reveal various critical moderators identified through meta-regression.
Practical implications
This study provides insights for operations managers and policymakers regarding the significance of control variables (e.g. ISO certification, type of economy, innovation approach, data collection method) on the relationship between SSCP and SP for business operations. This research uncovers the impacts of ISO regulations and proposed hypotheses through the lens of the natural resource-based view (NRBV) and institutional-based view (IBV).
Originality/value
This research is unique in that it provides a systematic view of the SSCP–SP interaction, validates the results through a theoretical lens (NRBV and IBV) and generalises the results by evaluating the moderation effects via checking prior literature.
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Jason X. Wang, Tsan-Ming Choi, Lincoln C. Wood, Karin Olesen and Torsten Reiners
Sustainable supply chain management (SSCM), driven by the downstream buyers' power, transfers sustainability responsibilities to the upstream supplier. In contrast to the…
Abstract
Purpose
Sustainable supply chain management (SSCM), driven by the downstream buyers' power, transfers sustainability responsibilities to the upstream supplier. In contrast to the heavily-focused buyers' perspective in the literature, the authors investigate how this buyer-driven SSCM influences suppliers' performance, using the measure of stock market reaction.
Design/methodology/approach
Grounded by the resource dependence theory (RDT), the authors empirically analyze the power effect on suppliers. Event study methodology and regression analysis are used, based on a sample of 1977 paired supplier observations from 1990 to 2016.
Findings
The result suggests that although a negative stock market reaction for suppliers in SSCM exists, the effect is less negative at a high level of buyer and supplier dependence. For the investigation of the “consolidated SSCM initiative,” where buyers acquire exogenous power by collaboratively managing SSCM with their peers, the authors uncover that the negative impact of this consolidated SSCM initiative can be mitigated by the high interdependence that generates relational norms in the dyads.
Research limitations/implications
The authors focus on dyadic relationships. Future research can use the study's findings to study the SSCM diffusion to lower-tier suppliers.
Practical implications
This paper has good managerial implications for both suppliers and buyers. The authors propose dependence-based strategies for supplier managers to reduce uncertainty in SSCM. Moreover, buyer managers can use the study's findings to strengthen suppliers' commitment.
Originality/value
The novelty of examining the suppliers' perspective contributes to exploring the supply chain impact of SSCM. The authors extend RDT and show that high dependence is not necessarily detrimental to suppliers in this buyer-driven SSCM context. The interesting finding of interdependence in the context of the consolidated SSCM initiative brings new insights that relational norms constrain the leverage of power in the dyads and are beneficial to the power-disadvantageous suppliers.
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Georgiana Ioana Tircovnicu and Camelia-Daniela Hategan
The need for an efficient enterprise risk management (ERM) has never been greater than today when organisations face complex and interconnected risks targeting their business…
Abstract
The need for an efficient enterprise risk management (ERM) has never been greater than today when organisations face complex and interconnected risks targeting their business models. Macroeconomics and geopolitical uncertainties, digital transformations of industries and sectors, cybersecurity, and climate change, among other trends, present significant uncertainties. This article aims to analyse the scientific papers on research specific to ERM and review the links between the researched area and market or corporate governance topics. Risk management is underdeveloped in many organisations; the current standard for risk management is a reactive approach. It is usually treated in isolation rather than as a core competency and a strategic asset. As a result, risk management processes are ineffective and seen as adding value to decision-making and responding to uncertainties. Based on the literature, the scope is to set up the framework for future research on ERM by building a bibliometric analysis and examining articles collected from the Web of Science Core Collection database. The study identified the essential research on this topic based on the citations of the papers and the author’s countries with the highest number of publications and citations. VOSviewer software analysed the ERM system based on keywords, citations, geographical distribution, and authorships. The research proves a strong connection between the ERM and corporate governance topics considering the stage where most countries are regarding this subject.
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Lili Zhang, Jie Ling and Mingwei Lin
The aim of this paper is to present a comprehensive analysis of risk management in East Asia from 1998 to 2021 by using bibliometric methods and tools to explore research trends…
Abstract
Purpose
The aim of this paper is to present a comprehensive analysis of risk management in East Asia from 1998 to 2021 by using bibliometric methods and tools to explore research trends, hotspots, and directions for future research.
Design/methodology/approach
The data source for this paper is the Web of Science Core Collection, and 7,154 publications and related information have been derived. We use recognized bibliometric indicators to evaluate publications and visually analyze them through scientific mapping tools (VOS Viewer and CiteSpace).
Findings
The analysis results show that China is the most productive and influential country/region. East Asia countries have strong cooperation with each other and also have cooperation with other countries. The study shows that risk management has been involved in various fields such as credit, supply chain, health emergency and disaster especially in the background of COVID-19. We also found that machine learning, especially deep learning, has been playing an increasingly important role in risk management due to its excellent performance.
Originality/value
This paper focuses on studying risk management in East Asia, exploring its publication's fundamental information, citation and cooperation networks, hotspots, and research trends. It provides some reference value for scholars who are interested or further research in this field.
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