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Environmental, social and governance (ESG) greenwashing is a form of social responsibility response that appears compliant but is substantively oppositional. As an abnormal social behavior, existing research has rarely focused on the deep-seated strategic logic behind ESG greenwashing. Business strategy emerges as the linchpin for companies undertaking a series of decision-making actions. Consequently, this research seeks to provide new insights into the strategic drivers behind corporate greenwashing and the role of institutional investors in mitigating these practices.

The research utilizes empirical analysis based on data from Chinese A-share listed companies on the Shanghai and Shenzhen stock exchanges from 2010 to 2022. ESG performance data is sourced from the Bloomberg ESG Disclosure Ratings and Thomson Reuters’ Asset4 database. Business strategy is assessed using six key indicators. The study employs institutional theory as the analytical framework, examining the impact of business strategy on ESG greenwashing and investigating the internal mechanisms driving these behaviors.

The study finds that compared with defender strategies, prospector strategies are more likely to lead to ESG greenwashing behavior. Specifically, aggressive business strategies tend to facilitate corporate ESG greenwashing. Mechanism analysis indicates that, compared to defenders, prospectors induce ESG greenwashing by increasing information asymmetry (reputation effect) and being constrained by financing limitations (profit-seeking effect). From an external governance perspective, this study finds that institutional investor ownership can mitigate the impact of business strategy on ESG greenwashing. Furthermore, additional research confirms that in heavily polluting industries, the positive effect of business strategy on ESG greenwashing is more pronounced, whereas implementing the Environmental Protection Tax Law curtails the impact of business strategy on ESG greenwashing.

This study analyzes the role of business strategy in ESG greenwashing, particularly in the context of emerging economies such as China, contributing uniquely to the literature on corporate decision-making and green management. The research extends the application of institutional theory to the field of corporate environmental strategy and introduces the concepts of reputation and profit-seeking effects, offering fresh perspectives on understanding ESG greenwashing behavior. It also provides empirical evidence of the governance role of institutional investors in addressing managerial opportunism related to ESG greenwashing, enriching the existing theoretical framework. Finally, the study highlights the need to establish stronger institutional and managerial mechanisms to effectively tackle corporate greenwashing, offering valuable insights for future research and practice.

Child friendly space (CFS) has been introduced worldwide as an effective Child Protection response to the affected children in emergency to restore their life through psychosocial support programs. An effective physical environment is crucial to accommodate the psychosocial activities of a CFS. Several guidelines have stated minimum standards regarding design and implementation of a CFS. However, different case studies show that the physical set-up of CFS varies in different contexts. Therefore, there is a scope to analyze the physical environment of CFSs in the context of Rohingya camps based on those standards.

Very few guidelines have solely discussed the criteria of physical design and implementation of a CFS. First, the study develops an assessment tool by sorting out those standards from available sources. Secondly, the study follows multiple case study research approach to assess physical environment of four CFSs in Rohingya camps, Cox’s Bazar based on those standards using direct observation, photographic analysis and key informant interview as survey tools.

Major findings reveal that local factors such as topography, availability of land and density have great impact on physical environment on CFSs in Cox’s Bazar beyond the minimum standards, which indicates the importance of considering local factors while designing a CFS for a given context.

Solely demonstrates the need of considering the benchmarks as well as local factors, which will contribute to the knowledge of policymakers and implementers during designing and implementing a CFS for a specific context.

Although existing literature has highlighted the benefits of sustainability practices for business, few studies explore their potential downside. To address this gap, this study aims to examine the relationship between public sustainability mindset and financial misconduct in local firms.

Based on survey results from International City/County Management Association, the author aggregates data on public sustainability mindset at the metropolitan statistical area (MSA) level in the USA. The author uses linear regression analysis to investigate the hypotheses. Robustness tests are also performed using approaches such as propensity score matching, two-stage least squares, falsification test and alternative measure of sustainability mindset.

This study finds that in MSAs with a stronger public sustainability mindset, local firms are more likely to engage in financial misconduct. Moreover, this association is mitigated by the availability of employment opportunities in the area, indicating that job security concerns have a moderating effect. Additional test suggests that firms with more integrity culture are less likely to engage in financial misconduct, even in areas where residents have a strong sustainability mindset.

This paper could be of interest to both policymakers and managers as it illustrates an unexpected impact of public sustainability awareness on financial compliance issues. It also provides cautions when prompting sustainability mindset among the public and suggests potential solutions to address the problem.

This study reviews and discusses the accounting literature that analyzes the role of auditors and enforcers in the context of fraud.

This literature review includes both qualitative and quantitative studies, based on the idea that the findings from different research paradigms can shed light on the complex interactions between different financial reporting controls. The authors use a mixed-methods research synthesis and select 64 accounting journal articles to analyze the main proxies for fraud, the stages of the fraud process under investigation and the roles played by auditors and enforcers.

The study highlights heterogeneity with respect to the terms and concepts used to capture the fraud phenomenon, a fragmentation in terms of the measures used in quantitative studies and a low level of detail in the fraud analysis. The review also shows a limited number of case studies and a lack of focus on the interaction and interplay between enforcers and auditors.

This study outlines directions for future accounting research on fraud.

The analysis underscores the need for the academic community, policymakers and practitioners to work together to prevent the destructive economic and social consequences of fraud in an increasingly complex and interconnected environment.

This study differs from previous literature reviews that focus on a single monitoring mechanism or deal with fraud in a broadly manner by discussing how the accounting literature addresses the roles and the complex interplay between enforcers and auditors in the context of accounting fraud.

The purpose of this study is to explore brand customer erosion at both the category and brand levels while considering consumer socio-demographic characteristics and weight of purchase factors.

Data from 3,563 buyers encompassing 20,601 purchases were collected from a prominent household data panel.

Brand customer erosion varies depending on socio-demographic factors (householder age, family size, life cycle and social class) and weight of purchase; variations are evident depending on the specific brand.

The paper makes a substantial contribution to the established fields of marketing and consumer behavior literature by opening a new line of research. It does so by demonstrating, the impact of socio-demographic factors on customer erosion. Simultaneously, it presents results that contradict the limited existing research on the influence of weight of purchase on brand customer erosion.

This study aims to explore the relationship between social capital and real earnings management (REM).

Using the social capital index from 1990 to 2014, this study investigates whether managers are less likely to carry out real earnings management when firms headquartered in a county with greater social capital and whether this impact will differ according to firm characteristics and the external environment.

Social capital is negatively linked to a firm’s REM, as a manager’s mindset toward misconduct might be more constrained by a better social environment and a lower tendency to undertake real earnings manipulation. Furthermore, we find that the effect of social capital on real earnings management is stronger for firms with geographically concentrated structures, weaker external monitoring, Sarbanes-Oxley Act adoption and greater pressure to meet earnings targets.

This study sheds light on the relation between social capital and accounting decisions by exploring whether social capital can influence real earnings management and provides evidence that social capital has a beneficial impact on reducing certain misbehaviors in financial reporting and that the effect is stronger when a firm has a geographically concentrated structure, weaker external monitoring, SOX adoption and less pressure to meet earnings targets.

Surprisingly little is known of the various methods of security analysis used by financial analysts with industry-specific knowledge. Financial analysts’ industry knowledge is a favored and appreciated attribute by fund managers and institutional investors. Understanding analysts’ use of industry-specific valuation models, which are the main value drivers within different industries, will enhance our understanding of important aspects of value creation in these industries. This paper contributes to the broader understanding of how financial analysts in various industries approach valuation, offering insights that can be beneficial to a wide range of stakeholders in the financial market.

This paper systematically reviews existing research to consolidate the current understanding of analysts’ use of valuation models and factors. It aims to demystify what can often be seen as a “black box”, shedding light on the valuation tools employed by financial analysts across diverse industries.

The use of industry-specific valuation models and factors by analysts is a subject of considerable interest to both academics and investors. The predominant model in several industries is P/E, with some exceptions. Notably, EV/EBITDA is favored in the telecom, energy and materials sectors, while the capital goods industry primarily relies on P/CF. In the REITs sector, P/AFFO is the most commonly employed model. In specific sectors like pharmaceuticals, energy and telecom, DCF is utilized. However, theoretical models like RIM and AEG find limited use among analysts.

This is the first paper systematically reviewing the research on analyst’s use of industry-specific stock valuation methods. It serves as a foundation for future research in this field and is likely to be of interest to academics, analysts, fund managers and investors.

This research aims to investigate the impact of artificial intelligence (AI) adoption on the innovation dynamics of Chinese manufacturing enterprises, with a specific focus on the intricate interplay with the labor structure.

Leveraging panel data of listed companies from 2010 to 2022, this study employs the two-way fixed effects (TWFE) model to examine the influence of AI adoption on Chinese manufacturing companies' innovativeness. Firm-level AI adoption is measured by constructing a three-dimensional attention, application and absorption index.

The results indicate that (1) AI adoption has a positive impact on both internal innovation capability and external innovation interaction, (2) AI adoption has dual effects on the education and skill structure of labor in manufacturing enterprises and (3) enterprises with a highly educated and skilled workforce exhibit a stronger influence of AI adoption on innovativeness.

This research contributes to the academic and practical discourse by unveiling the underlying mechanisms of AI affecting innovation and introducing a new measurement of the AI adoption index. The findings emphasize the need for a highly educated and skilled workforce to navigate the complexities of AI-driven innovation, offering valuable theoretical and practical implications for policymakers and enterprises.

Religious ethics, namely, zakat, could influence organizational ethics, particularly accounting and auditing processes and decision-making. Therefore, this study aims to examine the effect of zakat and the financial and nonfinancial expertise of the audit committee (AC) chair on audit quality.

A panel data set of 302 companies listed on the Pakistan Stock Exchange is used to analyze the effect of zakat and the AC chair’s expertise on audit quality, supporting agency theory.

A firm’s propensity to pay zakat is more likely to improve audit quality and discourage rent-seeking. Zakat improves audit quality and mitigates fraud by reinforcing organizational ethics. Zakat also supports AC chairs’ financial and nonfinancial expertise in improving audit quality. However, the financial expertise of the AC chair has a more significant impact on audit quality. In that context, this research offers novel evidence for policymakers’ and management practitioners’ interest in organizational ethics. Also, it helps shareholders and investors understand the management’s intentions.

This paper investigates the impact of zakat, a religious ethics, on auditing from an organizational ethics perspective and presents evidence of zakat’s impact on audit quality.