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This paper aims to examine whether reconciling profit maximization and social welfare as two possible aspirations of company is feasible.

The possible corporate goals are presented by drawing an arc from purely profit-maximizing organizations via a combination of profit and social objectives to organizations clearly serving social utility. In addition to this sorting principle, the order of the different positions presented also takes into account the number of goals and goal-setters.

The primary finding of the study is that none of the business concepts discussed here met the initial expectations as for economic and social objectives. The study points to the need to redefine the purpose of business within a broader social science framework.

For a critical perspective, this paper considers only those standpoints that emphasize a certain form of social utility beyond profitability resulting from business activity directly or indirectly.

In addition to revealing the relationship between the two aspirations, the novelty of the paper lies in the attempt to explore through normative critique and empirical evidence the validity of the expectations regarding the goals.

To cope successfully with the pressures imposed by a devastating pandemic and other challenges, companies and policymakers need to look at how they conceptualize, define, measure and operationalize “value”. This paper aims to support this conversation.

This study presents a historical review of how the value construct has been conceptualized over time, demonstrating that its history is one of tension and debate with conceptualizations swinging between objective (i.e. the value of something exists independent of the observers) and subjective (i.e. the value of something depends on the personal response of the observer to what is being considered) views over time.

This paper outlines the implications to researchers of value’s low construct clarity, offering suggestions designed to exploit rather than ignore the duality of the value construct. Instead of thinking of the value construct as being subjective or objective, this study recommends that scholars consider value’s objectivity and subjectivity as being interrelated and complementary. The paper recommends that researchers use both quantitative and qualitative methodologies in studying this construct.

A major limitation of this paper is the word count limitation restricting the extent to which this paper could explore a more comprehensive list of the conceptualizations of value throughout history.

This paper presents practitioners with a nuanced understanding of value that should assist those interested in examining the worth of investments with observable expenses but less quantifiable outputs.

The authors have not found a similar analysis of the various conceptualizations of value.

The extensive brand associations research lacks organisation when it comes to the used information cues. This paper aims to systematically map and categorise the brand knowledge associations’ components and develop a typology applicable to any brand.

Using the restaurant and hotel industries in four different European cultural clusters as contexts, this work uses well-established systematic qualitative analysis approaches to categorise, code and model pictorial content in two studies. A four-stage sampling process identified Instagram brand-posted signals (photos), 243 from 26 restaurants in Madrid, Paris and Rome for study one and 390 from 29 hotels in Moscow, Berlin and Stockholm for study two. Adhering to relevant guidelines, the manual coding procedures progressed from 246 for restaurants and 231 for hotels initially generated free information coding inductive codes to a theory-informed categorisation. Quantitative analysis complemented the qualitative analysis, revealing the information cues relative utilisation.

For both studies, the analysis produced a typology consisting of two high-level and five lower-level brand knowledge association categories, namely: (a) brand characteristics consisting of the brand as a symbol, the brand as a product and the brand as a person, and (b) brand imagery consisting of user imagery and experience imagery. The five lower-level categories comprise of sub-categories and dimensions, providing a more comprehensive understanding of the brand associations conceptual structure relevant to brands operating in any industry.

Researchers can use this typology to holistically encapsulate brand associations or design projects aiming to deepen brand knowledge association aspects/dimensions understanding.

Managers can use this typology to portray brands. Some of the identified lower-level categories and/or sub-categories and dimensions are likely to need customisation to fit specific contexts.

The suggested categorisation offers a solid, comprehensive framework for effectively categorising and coding brand knowledge associations and proposes a new theory in the form of a typology.

Drawing on signalling and impression management theories, this study aims to examine a bidirectional association between managerial tone in earnings conference calls and financial performance.

The sample includes non-financial firms listed in the FTSE 350 index during the period 2010–2015. Managerial tone was measured using positive and negative keywords based on the Loughran-McDonald Sentiment Word Lists, while return on assets was used as a proxy for firms’ financial performance.

The findings indicate that current financial performance positively affects the managerial tone in earnings conference calls. Likewise, the results also show that there is a positive relationship between managerial tone in earnings conference calls and firms’ future financial performance.

The results have important implications for top management to use more virtual communication media (i.e. earnings conference calls) to continue managing their relationships with financial stakeholders and helping them better understand financial performance, especially in countries where holding such calls is not yet part of firms’ policy.

To the best of the authors’ knowledge, this is one of the first studies that explore the relationship between managerial tone in earnings conference calls and financial performance. Overall, this study contributes to managerial tone literature and holds significant theoretical and practical implications.

This study investigates the rise of online female entrepreneurship in emerging economies from institutional perspectives and the resource-based view (RBV). The research also explores how choosing online entrepreneurship affects the performance of female entrepreneurs.

Data were collected through surveys, and quantitative data analysis was used to test the hypotheses.

The results indicate that women entrepreneurs perceive online platforms as rare, valuable, imperfectly imitable and non-substitutable resources. Furthermore, the impact of informal institutions on choosing online platforms is supported, but the influence of formal institutions remains unclear. Additionally, the study finds that opting for online platforms helps entrepreneurs achieve financial and stakeholder relationship goals but does not significantly contribute to strategic and learning goals.

Our research highlights how transitioning from a physical to an online business platform can become a valuable resource for marginalized, deprived and struggling entrepreneurs, particularly women, operating within challenging institutional contexts, often prevalent in emerging economies.

This study aims to examine the role of intersubjectivity portrayed in employees’ mundane activities in achieving goal congruence between individual and organizational goals within the performance measurement process.

Semi-structured in-depth interviews were conducted with five employees as key informants of each department. Observations were carried out unstructured to collect information about key performance indicator (KPI) and their achievements. Combining the interpretative phenomenological analysis (IPA) and Schutz’s phenomenology, the data analysis stage includes coding (interpretation, condensation and categorization of themes) and thematic analysis.

The findings show employees’ different feelings and actions in achieving their KPIs. Therefore, the anticipations of obstacles in achieving KPI were based on the intersubjective influence of personal goals, company goals, peers, bosses/departments and customers. Thus, in achieving KPI, employees strive to simultaneously achieve personal goals as well as company goals.

Previous literature on management accounting mainly focuses on organizational perspective and less on individual-centred phenomenological perspective. This study tries to fill this gap by exploring how intersubjectivity plays a role in employees’ mundane experiences.

In designing and applying KPI, the company should consider employees’ happiness as it could reflect job satisfaction, leading to high performance.

This study contributes to the literature on goal congruence, performance measurement and management control by extending prior research by Cugueró-Escofet and Rosanas (2013) and Cugueró-Escofet et al. (2019) in empirically portraying how employees perceive goal congruence in the performance measurement process with IPA.

The purpose of this research is to systematically scrutinize the influence of macroeconomic determinants on trade openness, through the lens of various trade theories, with a particular focus on the economies of the GIPSI countries – Greece, Ireland, Portugal, Spain and Italy.

This study investigates the macroeconomic factors influencing trade openness in the GIPSI economies from 1995 to 2020. Methods include stepwise regression (SR) for model selection, Pedroni panel cointegration test and panel regression results. The analysis uses advanced panel regressions, including FMOLS, Panel OLS and FEM. The long-term dynamics were tested using Pedroni cointegration, while Granger causality testing was used to examine the causal direction between the trade openness ratio and trade determinant.

The results show both long-term and short-term relationships between trade openness and (1) foreign direct investment, (2) labor force participation rate, (3) trade reserves and (4) trade balance. The researchers also detected unidirectional and bidirectional causality relationships between trade openness and these four factors. The study also revealed that trade reserves (TR) emerge as the most influential determinant of trade openness, and per capita income does not exhibit economic significance concerning the trade openness of GIPSI economies.

This research is conducted within the context of the GIPSI nations (Greece, Ireland, Portugal, Spain and Italy). As such, the outcomes may not be universally applicable to other economic systems due to the distinct institutional settings and governance structures across different economic groups. Future investigations may explore the relationship between trade openness and its determinants by incorporating different variables.

To the best of the authors' knowledge, this is the first study investigating the theory that suggested trade drivers drive the trade openness of GIPSI countries context. By focusing on GIPSI countries, the study offers a unique perspective on the dynamics of trade openness in economies that have experienced financial crises and stringent austerity measures.

Project management scholars and practitioners have long debated how best to harness social interactions to optimise knowledge exchange and enhance stakeholder alignment and value. This study aims to assist project managers to understand and manage fuzziness and create enduring front-end value. It views the project life cycle as a potential source of co-created value. The paper uses a social capital lens to provide a deeper understanding of the project front-end; it uses a three-dimensional view (structural, relational, cognitive) to explore how stakeholder social capital can overcome front-end fuzziness to enhance decision-making and, thus, value creation.

Semi-structured interviews were conducted with senior managers from teleconnections companies, which, when combined with secondary data, established the impact, nature and dimensions of social capital within a project management setting.

The research found that social capital can help to reduce complexity, uncertainty and equivocality in the early stages of projects, making them more clearly defined and thus helping to create greater stakeholder value in the later stages of the project. A surprising finding was that some project team members engaged in intentional equivocality to try to promote their own benefits rather than those of the organisation.

This paper reconceptualises the impact of social capital on stakeholder value creation in the front-end of projects. The paper contributes to a more holistic view of the front-end of project management, focusing social capital to reduce the sources of front-end fuzziness.

This study investigates the relationship between CEO leadership, gender homophily and corporate environmental, social and governance (ESG) performance. We also investigate whether it is essential to have a critical mass of women directors on the board to create a significant power of gender diversity in leadership positions.

Our study is based on firms listed on the London Stock Exchange (FTSE-All-Share) from 2011 to 2019. CEO characteristics and other board variables were collected from BoardEx, and ESG data, and other related variables were collected from Eikon database.

We find a critical mass of female directors contributes to ESG performance suggesting that token representation of female directors on boards limits their effectiveness. We do not find support for the gender homophily perspective, our findings suggest that the effectiveness of female CEOs does not depend on the existence of a critical mass of female directors. Female directors and female CEOs are less likely to be associated with ESG activities when firms experience poor financial performance. We also find that younger female CEOs have a positive impact on ESG performance. Furthermore, we find female CEOs with shorter tenure are more likely to improve ESG performance. Overall, our findings suggest a substitutional effect between having female CEOs and gender diverse boards.

This study contributes to the debate on gender homophily in the boardroom and how that may affect ESG practices. It also complements existing academic research on female leadership and ESG performance and has important implications for senior management and policymakers.

This paper aims to delve into the nuanced relationship between corporate governance dynamics, human capital disclosure and their impact on the competitive positioning of Japanese listed companies. The study primarily examines how these factors influence employee engagement, a critical determinant of overall business competitiveness.

Panel data for Japanese listed companies for FY 2019 to FY 2021 were analysed using multiple regression analyses with two models.

The results indicate that the presence of independent and female board members has a positive impact on human capital disclosure. Surprisingly, employee engagement was found to be negatively related with human capital disclosure, signifying a potential trade-off between transparency and engagement.

Amidst the escalating emphasis on non-financial information and corporate social responsibility, this paper unveils a previously underexplored aspect of Japanese corporate competitiveness. Specifically, this study offers a fresh empirical perspective on the relationship between corporate governance, human capital disclosure and employee engagement in Japanese listed companies, a topic with limited academic research and no legal regulations in Japan. The findings have significant implications for companies seeking to enhance their human capital disclosure and employee engagement practices, especially in light of the growing focus on non-financial information and social responsibility.