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This study attempts to examine the effect of greenhouse gas (GHG) emissions disclosure and its compounding effect with environmental, social, and governance (ESG) disclosure on firm value in Korea. This study focuses on the unique institutional setting in Korea that implements mandatory GHG emissions disclosure and voluntary ESG disclosure.

Using a dataset comprising 25,968 firm-year observations from publicly listed Korean firms from 2000 to 2021, we applied an ordinary least squares (OLS) regression model to test hypotheses.

The results show that, in a voluntary disclosure regime, ESG disclosure has a positive impact, whereas in a mandatory disclosure regime, GHG emissions disclosure has a negative impact on firm value. The results also indicate that when a firm discloses both its GHG emissions and ESG performance information, the voluntary disclosure of ESG information synergistically mitigates the adverse effects of mandatory disclosure of GHG emissions information. This synergy contributes significantly to enhancing the firm’s overall value. The findings indicate that a firm can enhance its value by proactively disclosing ESG information, especially when it is compulsorily required to report GHG emissions data.

This study investigated the effect of corporate non-financial disclosure on firm value by shedding light on the differential attributes between voluntary and mandatory disclosures and between quantitative and qualitative information.

The study aims to investigate the relationship between certain key attributes of the board of directors as their international experience, tenure, age, independence and size and internationalization strategies of firms in an emerging economy.

The study uses random effects panel Tobit regression on a data set of 418 Indian companies spanning over a time frame of nine years from fiscal year (F.Y.) 2009–2010 to F.Y. 2017–2018.

Board members substantially associate with internationalization choices of emerging economy firms. Specifically, board members with extensive international experience, shorter tenure, higher age, greater independence and larger board size are associated with high level of internationalization in these firms.

The study advocates that Indian companies should focus on recruiting board members with international experience, periodically refreshing their boards, valuing wisdom and experience, adhering to regulatory requirements of independent directors and increase the number of board members to expand internationally. By following this, Indian companies can successfully expand into international markets.

The study’s originality lies in its focus on the role of board members in the internationalization strategy of emerging economy firms, which remains an under-researched area.

This study aims to investigate the impact of stakeholders’ nonfinancial resources (NFRs) on companies’ profitability, filling a significant gap in the literature regarding the role of NFRs in value creation.

Data from 76 organizations from 2017 to 2019 were collected and analyzed. Four primary NFRs and their key value drivers were identified, representing core elements that support different dimensions of a company’s performance. Statistical tests examined the relationship between stakeholders’ NFRs and financial performance measures.

When analyzed collectively and individually, the results reveal a significant positive influence of stakeholders’ NFRs on a firm’s profitability. Higher importance assigned to NFRs correlates with a higher return on sales.

This study contributes to the literature by empirically bridging the gap between stakeholder theory and the resource-based view, addressing the intersection of these perspectives. It also provides novel insights into how stakeholders’ NFRs impact profitability, offering valuable implications for research and managerial practice. It suggests that managers should integrate nonfinancial measures of NFRs within their performance measurement system to manage better and sustain companies’ value-creation process.

The apparent contemporary corporate model is that of a “responsible firm” – a firm that pursues not only profit and shareholder return but also considers the concerns and interests of its social and environmental stakeholders. Research on corporate social responsibility (CSR), investor recognition via environmental, social, and governance (ESG) issues, and long-term sustainability has developed into an established field of study. We attempt to clarify the terminologies and models of this field by conducting a brief review of the existing work and suggesting an integrated conceptual framework for CSR, ESG, and sustainability in a domestic and global context. We suggest that externality and temporality are the drivers of this integrated framework.

This study rigorously examines the complex interplay between entrepreneurial risk-taking and the achievement of sustainable development goals 1 and 2, which focus on eradicating poverty and hunger, respectively. By conducting a comprehensive review of existing literature and empirical data, the research aims to unravel the direct impact of risk-oriented entrepreneurial activities on poverty and hunger alleviation. Moreover, it seeks to investigate the moderating role of democratic governance in shaping these effects within the context of African economies.

By employing a Panel Smooth Transition Regression (PSTR) model and using annual and balanced panel data for 20 African countries over 21 years, we examine a potential regime switching as an original framework in the analysis of the curvilinear relationship between risk-driven entrepreneurial actions and sustainable development goals 1 and 2.

Our empirical results confirm the presence of a specific threshold above which risk-oriented entrepreneurial actions proactively tackle poverty and hunger issues. The results also show that entrepreneurship associated with a good level of democracy is the fair tradeoff toward eradicating extreme poverty and hunger by the 2030th United Nations (UN) deadline.

This study offers novel insights into the role of entrepreneurial risk-taking at the country level in achieving sustainable development goals 1 and 2. It advances research on entrepreneurship and sustainable development by demonstrating how a strong risk culture among entrepreneurs might make regions more developed while building on suitable institutional quality.

Intentions are central to entrepreneurial thinking and thus entrepreneurial action yet we have not explored the different pathways of how intent evolves. How does an easily assessed measure of cognitive style influence how entrepreneurs develop their intentions?

We examine how cognitive style interacts with entrepreneurial intentions testing the model separately with subjects scoring as Intuitives or Analytics on cognitive style, plus nationality and gender as covariates with entrepreneurial intensity as a prospective moderator, using 528 university students from Norway, Russia and Finland.

Cognitive style does moderate the intentions model. For intuitives, country influenced social norms and entrepreneurial intensity proved a moderator. For analytics, neither perceived desirability, country, nor entrepreneurial intensity were significant.

We will replicate these findings in different samples, especially non-WEIRD settings. It will also be useful to test alternate measures of cognitive style and other likely moderators.

We offer diagnostics for educators and ecosystem actors given that our findings suggest intriguing differences in the entrepreneurial mindset.

Understanding multiple pathways exist to entrepreneurial intent and thus action helps policymakers and entrepreneurial champions better able to help nurture entrepreneurs and thus entrepreneurship in their communities.

Cognitive style has dramatic effects on the specification of the formal intentions model arguing for multiple pathways to entrepreneurial intent. For example, two entrepreneurs might arrive at the same intention but through very different processes because they differ in cognitive style.

Rural development programs are widely used policy instruments mitigating rural-urban economic disparities. Yet, little research has examined their effect on rural labor. This study fills this knowledge gap by quantifying the causal impact of such programs on the labor allocation of farm households in Taiwan.

A theoretical framework based on the agricultural household model is constructed to guide the empirical specification. A unique dataset compiles administrative data on the program’s subsidies with farm household surveys across seven years. To cope with endogeneity bias, an instrumental variables model is applied. The eligibility rule for a township to participate in the program is used as the instrument.

We find that the program increases the labor supply of farm household members. These effects are more pronounced for off-farm work, particularly non-heads of farm households. The program’s subsidies supporting culture and promotion-related activities have larger effects. Finally, females benefited more from the program.

We focus on farm households since this group is the target of place-based rural development programs. In addition, we identify the causal impact of place-based development programs on rural labor. Finally, this study is relevant to the literature on intra-household models by demonstrating that place-based rural development programs can affect the labor supply of farm household members.

This study analyzes the performance implications of adopting blockchain to support supply chain business processes. The technology holds as many promises as implementation challenges, so interest in its impact on operational performance has grown steadily over the last few years.

Drawing on transaction cost economics and the contingency theory, we built a set of hypotheses. These were tested through a long-term event study and an ordinary least squares regression involving 130 adopters listed in North America.

Compared with the control sample, adopters displayed significant abnormal performance in terms of labor productivity, operating cycle and profitability, whereas sales appeared unaffected. Firms in regulated settings and closer to the end customer showed more positive effects. Neither industry-level competition nor the early involvement of a project partner emerged as relevant contextual factors.

This research presents the first extensive analysis of operational performance based on objective measures. In contrast to previous studies and theoretical predictions, the results indicate that blockchain adoption is not associated with sales improvement. This can be explained considering that secure data storage and sharing do not guarantee the factual credibility of recorded data, which needs to be proved to customers in alternative ways. Conversely, improvements in other operational performance dimensions confirm that blockchain can support inter-organizational transactions more efficiently. The results are relevant in times when, following hype, there are signs of disengagement with the technology.

The study examines the impact of corporate social responsibility (CSR) non-compliance on firm value. It also investigates the moderating roles of ownership concentration and research and development (R&D) intensity in this relationship.

For hypothesis testing, the authors utilized panel data regression models on a dataset comprising 13,760 firm-years listed on the Bombay Stock Exchange, covering a period of nine years following the legislation (from March 2015 to March 2023).

Our findings reveal a detrimental effect of mandatory CSR spending on the value of non-compliance firms, consistent with the notion of deterrence theory. Further, we find that the negative impact is more pronounced among widely-held firms compared to closely-held firms, aligning with shareholder activism and information asymmetry theory. Our subsequent tests indicate that R&D intensity mitigates the negative impact, indicating a substitution relationship between CSR and R&D expenditure. Consistent with this finding, we find a lesser negative impact of CSR non-compliance on firm value of widely-held R&D intensified firms. Our findings are robust to the problem of endogeneity and self-selection bias.

Our findings highlight practical implications for managers regarding performance management. Managers should recognize that mandatory CSR spending can negatively impact performance, especially in widely-held firms, leading to shareholder dissatisfaction. To mitigate these effects, increasing R&D investment is likely to buffer against the adverse impacts of CSR mandates. Firm managers should align R&D efforts with CSR obligations to counterbalance costs and manage shareholder expectations, thereby maintaining performance and enhancing the perception of innovation among stakeholders.

It is the first study to consider the degree of compliance within firms while examining the impact of mandatory CSR spending on firm value. Also, the study is among pioneer attempts to investigate the moderating role of ownership structure and R&D intensity on the relationship.