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Article
Publication date: 10 June 2022

Arash Arianpoor and Seyyed Sajjad Naeimi Tajdar

This study aims to explore the relationship between firm risk, capital structure, cost of equity capital and social and environmental sustainability during the COVID-19…

Abstract

Purpose

This study aims to explore the relationship between firm risk, capital structure, cost of equity capital and social and environmental sustainability during the COVID-19 pandemic for companies listed on Tehran Stock Exchange.

Design/methodology/approach

To this aim, the information about 190 companies in 2014–2020 was retrieved to be analyzed. The total risk and systematic risk were used as the indicators of company risk; the industry-adjusted earnings price ratio (IndEP) and GORDON were used for the cost of equity capital. To measure social sustainability and environmental sustainability, the procedure suggested by Arianpoor and Salehi (2020) was used.

Findings

Underleveraged firms have had a lower total risk during the COVID-19 pandemic, while overleveraged firms have not had a higher risk during this time. In overleveraged firms, using systematic risk has a negative impact on social sustainability during the COVID-19 pandemic. In overleveraged firms, using total risk and systematic risk has a significant negative impact on environmental sustainability in the pandemic. Besides, overleveraged firms have a lower cost of equity capital (IndEP) during COVID-19.

Originality/value

To the best of the authors’ knowledge, no similar study has so far examined the joint impact of COVID-19 and corporate risk on social and environmental sustainability and also the joint impact of COVID-19 and capital structure on the cost of equity. This study contributes to the related literature by providing corporations with insightful post-pandemic directions on capital structure decisions and social and environmental activities. Furthermore, this research and the relevant findings can help understand and develop social responsibility in Iran as a developing country.

Details

Journal of Facilities Management , vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1472-5967

Keywords

Article
Publication date: 15 March 2022

Ephraim Zulu, Sambo Lyson Zulu, Mwansa Chabala, Neema Kavishe, Charles Chifunda and Innocent Musonda

While previous studies have highlighted the importance of incorporating environmental sustainability in building designs, there is a paucity of studies that assess the…

Abstract

Purpose

While previous studies have highlighted the importance of incorporating environmental sustainability in building designs, there is a paucity of studies that assess the extent to which design teams in developing countries consider environmental sustainability at the building design stage. Therefore, using Zambia as a case study, this study examined the extent to which infrastructure design teams in a developing country consider environmental sustainability at the design stage.

Design/methodology/approach

The study used a qualitative research approach using structured interviews because there are hardly any studies which have explored the extent to which designers incorporate environmental sustainability in infrastructure designs in developing countries. The data is analysed thematically using the ATLAS.ti software.

Findings

The results show that environmental sustainability is not an important design consideration because it is secondary to functional, technical and aesthetic considerations. Environmental considerations are also made in an ad hoc manner and when it is cost-effective for the project. Regulatory requirements pertaining to environmental protection are adhered to without any cost considerations. It was, therefore, theorised that building design teams in developing countries make technical, functional and aesthetic consideration during the infrastructure design stage ahead of environmental considerations.

Originality/value

There is a paucity of studies that have investigated whether building infrastructure designers consider issues of environmental sustainability at the design stage in developing countries. The findings have practical implications on how developing countries can foster environmental sustainability at the design stage and avoid generating a building infrastructure stock that will require environmental resilience adaptation in the future.

Details

Journal of Engineering, Design and Technology , vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1726-0531

Keywords

Book part
Publication date: 24 January 2022

Oya Korkmaz

Introduction: Looking at the risks faced by enterprises in recent years, we see that the risks have shifted radically from traditional economic and financial risks to…

Abstract

Introduction: Looking at the risks faced by enterprises in recent years, we see that the risks have shifted radically from traditional economic and financial risks to those posed by environmental and social factors. Developments in the field of activity of enterprises (climate change, the increasing relationship between the society and enterprises through shareholders and partners) have led to an increase in the number and diversity of risks faced by enterprises. It is only possible for enterprises to cope with these increasing risks by adopting a proactive and contemporary management approach. One of these contemporary management approaches that businesses should adopt is sustainability. Many researches have shown that the integration of sustainability into risk management has proved successful in risk management.

Purpose: Looking at previous literature, this study sets forth what financial (economic), environmental and social risks businesses may face today, explains with a few examples what measures companies can implement to eliminate these risks, and a future perspective is presented to companies. In addition, this study makes recommendations on how to successfully manage the risks that companies may face and emphasizes what the positive results of sustainable risk management can be (increasing the business value, ensuring sustainability and increasing the shareholder value). Mention was made about the fact that the ability of enterprises to successfully manage sustainability risks depends on their ability to prevent, identify, mitigate and manage risks, and it was emphasized that the environmental, social and governance risks must, to a large extent, be taken into account by many circles (regulators and customers), mainly investors. In addition, this study aims to identify and evaluate the current and possible future risks and to serve as a guide for actions to be taken to minimize risks or keep them at an optimum level.

Methodology: In this section, a compilation study on sustainability risk management (SRM) was done in the light of information obtained from various reports, scientific articles and books. In other words, in this section, information from various scientific sources on SRM was systematically collected, analyzed, interpreted and evaluated, and effort was made to present an up-to-date, extensive conceptual framework related to SRM. In addition, the scientific literature – especially in the historical development process of the last decade – on the debate of SRM was examined in this study, and the highest point reached in this debate today is revealed. Thus, the positioning of different views on the sustainability issue and the latest developments in the literature were also evaluated properly.

Findings: As a result of the examination of the scientific literature on SRM in the last decade, it has been determined that SRM has led to many other favorable outcomes, from the sustainability of the enterprise to gaining competitive advantage, increasing its goodwill, reputation and efficiency.

Details

Insurance and Risk Management for Disruptions in Social, Economic and Environmental Systems: Decision and Control Allocations within New Domains of Risk
Type: Book
ISBN: 978-1-80117-140-3

Keywords

Abstract

Details

Sustainability Assessment
Type: Book
ISBN: 978-1-78743-481-3

Book part
Publication date: 13 April 2015

Dinorah Frutos-Bencze

The chapter examines and describes the impact of the Central American Free Trade Agreement (CAFTA-DR) environmental provisions and the UN Global Compact initiatives on…

Abstract

Purpose

The chapter examines and describes the impact of the Central American Free Trade Agreement (CAFTA-DR) environmental provisions and the UN Global Compact initiatives on environmental sustainability of member countries at a national level and at a firm level.

Methodology/approach

Composite indexes (Human Development Index, Ecological Footprint Index, and Biocapacity) are used to determine CAFTA-DR country level sustainability. Firm level sustainability is based on a qualitative survey of companies using the Global Reporting Initiative framework and UN Global Compact participation.

Findings

Based on the methodology used CAFTA-DR member countries cannot be considered environmentally sustainable. Despite the lack of integration between initiatives proposed by different institutions, firm level sustainability trends are positive and encouraging.

Research limitations

Free access to Ecological Footprint and Biocapacity scores is limited. The research focused on surveying CAFTA-DR and UN Global Compact sustainability initiatives. However, there are many other entities and institutions not included in this research that also encourage sustainability.

Practical implications

The need of a concerted effort to align different organizations and institutions regarding sustainability initiatives in the CAFTA-DR region is apparent.

Originality/value

CAFTA-DR includes environmental provisions that are complementary to the UN Global Compact environmental principle. The synergies between these initiatives should be actively explored.

Book part
Publication date: 28 October 2021

Nuraddeen Abubakar Nuhu, Kevin Baird and Sophia Su

This study examines the impact of environmental activity management (EAM) on triple bottom line (TBL) performance and the role that sustainability strategies play in…

Abstract

This study examines the impact of environmental activity management (EAM) on triple bottom line (TBL) performance and the role that sustainability strategies play in mediating these relationships. Data were collected using a survey of Australian managers and analysed using structural equation modelling (SEM). The findings indicate that each of the three levels of EAM – Environmental Activity Analysis, Environmental Activity Cost Analysis, and Environmental Activity Based Costing – influence-specific aspects of performance, either directly and/or indirectly through environmental and social sustainability strategies. The findings suggest that managers could enhance their use of EAM practices through the use of sustainability strategies in order to enhance performance. This study provides empirical insight into the impact that EAM practices and environmental and social sustainability strategies have on all three aspects of TBL performance.

Abstract

Details

Sustainability Assessment
Type: Book
ISBN: 978-1-78743-481-3

Book part
Publication date: 24 January 2022

Özlem Tuna

In recent years, growing concerns about the environment and climate change, poverty problems, growing inequality among societies, and tensions brought about by social…

Abstract

In recent years, growing concerns about the environment and climate change, poverty problems, growing inequality among societies, and tensions brought about by social injustice have increased the popularity of sustainability, which is considered a multidimensional concept, among scientists, decision-makers, academics, and companies. The perception of these different groups of sustainability issues and the tools they suggest/use for corporate sustainability implementations differ from each other. It can be difficult to look for and understand sustainability tools that are handled with different perspectives in many sources. In this chapter, the tools used in sustainability implementation are discussed with certain classifications – environmental management tools, sustainability reporting, and corporate social performance – and their relations with each other. In short, this study aims to present a holistic perspective to the sustainability (or of corporate sustainability) implementations carried out by companies trying to survive in a dynamic and complex economic environment. Accordingly, the literature was reviewed, and the concept of sustainability was explained, the reasons that push companies to sustainability implementations were evaluated, and sustainability implementations were detailed under environmental management tools, sustainability reporting, and corporate social performance.

Details

Insurance and Risk Management for Disruptions in Social, Economic and Environmental Systems: Decision and Control Allocations within New Domains of Risk
Type: Book
ISBN: 978-1-80117-140-3

Keywords

Article
Publication date: 17 December 2021

Koorosh Gharehbaghi, Kerry McManus, Maged Georgy, Ken Farnes, Francesca Pagliara and Matt Myers

Through the significance matrix, this paper aims to investigate and explore the main sustainability factors of mega transportation infrastructure projects. Sydney’s Metro…

Abstract

Purpose

Through the significance matrix, this paper aims to investigate and explore the main sustainability factors of mega transportation infrastructure projects. Sydney’s Metro mega transportation infrastructure is used as a case study. Sydney’s Metro was selected because of its sustainability challenges faced because of the areas’ diverse ecological zones. Sydney’s Metro is thus examined as the basis of best practice for the determination of the sustainability factors of transportation infrastructures.

Design/methodology/approach

Using the significance matrix as a methodology, this research evaluates the environmental impact assessment and environmental assessment processes, to alleviate the problems of the mega transportation infrastructure.

Findings

This research found that a more comprehensive determination is needed to further analyse the sustainability factors of mega transportation infrastructures, use of a significance matrix would further assess the environmental complexities of mega transportation infrastructures and the sustainability factors of mega transportation infrastructures should include a nonlinear and asymmetrical scheme highlighting its components and carefully outlining its integration and consolidation.

Originality/value

Although there is concurrent research into sustainability factors of mega transportation, this paper undertakes a new methodology for such infrastructure. While the significance matrix is not a new concept, it has never been used specifically for mega transportation infrastructure. Subsequently, using the significance matrix as a methodology, this research undertakes such environmental analysis and assessment and thus produces a qualitative risk analysis matrix. The findings from this research will ultimately assist the key stakeholders of mega transportation infrastructures to better plan, monitor and support similar projects.

Details

Journal of Engineering, Design and Technology , vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1726-0531

Keywords

Article
Publication date: 20 September 2021

Anitha Moosa and Feng He

This paper aims to explore how environmental management practices impact different dimensions of corporate sustainability. It also explores the mediating impact of…

Abstract

Purpose

This paper aims to explore how environmental management practices impact different dimensions of corporate sustainability. It also explores the mediating impact of environmental regulation and reports on the relationship between environmental management practice and corporate sustainability.

Design/methodology/approach

A brief focus group discussion and a preliminary test were conducted through a focused group meeting with industry experts before data were collected from senior management of 116 registered operations in the hospitality and tourism industry in the Maldives. To analyse the data, a mediation model is proposed and tested using partial least squares structural equation modelling.

Findings

Results showed that environmental management practices have a direct and positive effect on corporate sustainability. Furthermore, environmental regulation and reporting positively mediate the effect of environmental management practices on corporate sustainability. Among the sustainability dimensions, it is important to note that the social sustainability aspect has the highest impact, followed by the economic and environmental aspects of corporate sustainability.

Practical implications

Findings provide empirical evidence in understanding achieving corporate sustainability through environmental management practices. The study is practical for stakeholders and policymakers to follow through with the environmental regulations and be transparent on environmental reporting measures that impact overall sustainability.

Originality/value

This study serves as noteworthy research for stakeholders to evaluate against regulatory and reporting requirements for businesses they invest in the future. It adds value to the literature and attempts to advance environmental management and sustainability research in the context of small island developing states.

Details

International Journal of Emerging Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-8809

Keywords

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