Simon Kerridge, Jan Andersen, Melinda Fischer, Mark B. M. Hochman, Fernanda Oliveira, Makiko Takahashi, Therina Theron and Virág Zsár
This part of the book has provided overviews of the current situation of research management and administration (RMA) in over 50 countries around the world provided by a total of…
Abstract
This part of the book has provided overviews of the current situation of research management and administration (RMA) in over 50 countries around the world provided by a total of 96 authors. Thirty-eight chapters cover individual countries from six continents, with a chapter bringing together this situation in the three Baltic states, another covering the Western Balkans, one more focused on the Caribbean, and there is a chapter on the Catalonia region of Spain. Here, we attempt to draw out common themes and to highlight differences in RMA and of Research Managers and Administrators in different parts of the world. Further, more holistic, insights can be found in the final chapter of the book (Yang-Yoshihara, Kerridge, et al., 2023, Chapter 6).
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Mohamed Syazwan Ab Talib and Mohd Hafiz Zulfakar
There is limited knowledge of the sustainable halal food supply management in Brunei Darussalam (Brunei), although it is reputable in the halal economy and advocates the United…
Abstract
Purpose
There is limited knowledge of the sustainable halal food supply management in Brunei Darussalam (Brunei), although it is reputable in the halal economy and advocates the United Nations (UN) Sustainable Development Goals (SDGs). Therefore, this paper highlights issues faced in a small, rentier halal market and proposes sustainable supply chain management (SSCM) initiatives for halal-certified food companies in Brunei.
Design/methodology/approach
This paper draws data from published academic research and employs a normative and narrative assessment of SSCM and halal supply chain literature.
Findings
Four normative SSCM initiatives and propositions that could be implemented by Brunei halal-certified food businesses in achieving the SDGs are highlighted: responsible sourcing, environmental purchasing, sustainable packaging and green transportation.
Practical implications
This viewpoint paper provides a basis for achieving the “Brunei Vision 2035” through a sustainable supply chain lens that may increase well-being and develop a productive and sustainable economy. It also lays a foundation for realising the SDGs, specifically Goal 12 of Sustainable Consumption and Production.
Originality/value
The dedicated attention to smaller halal markets, such as Brunei, would enrich the literature, reveal unforeseen issues or address gaps in the domains of SSCM and halal food supply chains.
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Intellectual capital (IC) is believed to be more important resources to add the value of a company rather than physical assets. This gives rise to the increasing practice of…
Abstract
Intellectual capital (IC) is believed to be more important resources to add the value of a company rather than physical assets. This gives rise to the increasing practice of reporting IC information in corporate annual report. Over the past fifteen years, considerable numbers of studies have employed content analysis to examine the extent and nature of IC information in several countries, but they presented different results. These results might partly contribute to different methods in counting information. In fact, the previous studies have been critised for not explicitly clarifying how information was recoded and counted which led to incomparable findings. Therefore, this paper firstly seeks to discuss an illustrative example of ‘sense-making‘ process in identifying, categorizing, and counting of IC information in annual reports of pilot sample company. Secondly, the method refined in the pilot study was applied over the final samples of six large companies in the UK from 1974 to 2008 The contribution of this paper is to primarily refine the previous method in recoding information, to send a message that transparency is crucial in content analysis and to facilitate method replication for future studies. Overall, this study demonstrates a marked increase in IC information disclosure was identified over the 35 years. The relational capital information disclosure was relatively more prominent over time, followed by human capital and structural capital.
Ly Ho, Van Ha Nguyen and Tung Lam Dang
This study revisits the relationship between environmental, social and governance (ESG) activities and firm performance. More importantly, it tests whether this relationship is…
Abstract
Purpose
This study revisits the relationship between environmental, social and governance (ESG) activities and firm performance. More importantly, it tests whether this relationship is moderated by critical yet underexplored factors such as stakeholder engagement, financial constraints, and religiosity.
Design/methodology/approach
A wide range of estimation techniques, including pooled ordinary least squares (OLS), fixed effects, system generalized method of moments (GMM) and propensity score matching-difference-in-differences (PSM-DiD), are employed to investigate such issues in a large sample of firms from 31 countries.
Findings
ESG performance has a positive and significant impact on firm performance. While stakeholder engagement positively moderates this relationship, financial constraints and religiosity negatively moderate it. Interestingly, this positive linkage is driven by environmental and social performance rather than governance performance.
Practical implications
Firms should proactively engage in ESG initiatives and consider the intervening influences of stakeholder engagement, financial constraints and religiosity in making decisions to invest in ESG activities. Furthermore, our findings can help policymakers understand the financial consequences of ESG practices, which can be helpful in designing new policies to further promote corporate engagement in ESG practices.
Originality/value
First, our research findings help reconcile the long-standing debate about the value impact of ESG. Second, our paper investigates relatively new aspects of the ESG-firm performance relationship. Third, our study offers more insight into the ESG literature by showing that not all ESG dimensions equally impact firm performance.
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Federica Doni, Antonio Corvino and Silvio Bianchi Martini
Lately, sustainability issues are increasingly affecting all sectors, even if oil and gas industry is highly required to improve its social performance because of the societal…
Abstract
Purpose
Lately, sustainability issues are increasingly affecting all sectors, even if oil and gas industry is highly required to improve its social performance because of the societal pressure to environmental protection and social welfare. Sustainability concerns and corporate governance features and practices are more and more connected because sustainability has been perceived as a crucial topic by owners and managers. In this perspective, the empirical analysis aims to explore whether and to what extent, sustainability-oriented corporate governance model is linked with social performance.
Design/methodology/approach
By adopting a multi-theoretical framework that includes the legitimacy theory, the stakeholder theory and the resource-based view theory, this analysis used a sample of 42 large European-listed companies belonging to the oil and gas industry. The authors run fixed effects regression models by using a dependent variable, i.e. the social score, available in ASSET4 Thomson Reuters, and some independent variables focused on sustainable corporate governance models, stakeholder engagement, firm profitability, market value and corporate risk level.
Findings
Drawing upon the investigation of a moderating effect, findings display that stakeholder engagement is positively associated with corporate social performance and it can be considered an important internal driver able to shape a corporate culture and most likely to address corporate social responsibility issues.
Research limitations/implications
This study confirms the need to develop an organizational and holistic approach to corporate governance practices by analyzing internal and external governance mechanisms. From the managerial perspective, managers should opt for a sustainable corporate governance model, as it is positively correlated with corporate social performance.
Originality/value
There is an urgent need to investigate sustainability issues and their potential association with firm internal mechanisms, particularly in the oil and gas industry. This paper can extend the current body of knowledge by pointing out a positive relationship between stakeholder engagement and firm social performance.
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Ismail Fasanya and Oluwatomisin Oyewole
As financial markets for environmentally friendly investment grow in both scope and size, analyzing the relationship between green financial markets and African stocks becomes an…
Abstract
Purpose
As financial markets for environmentally friendly investment grow in both scope and size, analyzing the relationship between green financial markets and African stocks becomes an important issue. Therefore, this paper examines the role of infectious disease-based uncertainty on the dynamic spillovers between African stock markets and clean energy stocks.
Design/methodology/approach
The authors employ the dynamic spillover in time and frequency domains and the nonparametric causality-in-quantiles approach over the period of November 30, 2010, to August 18, 2021.
Findings
These findings are discernible in this study's analysis. First, the authors find evidence of strong connectedness between the African stock markets and the clean energy market, and long-lived but weak in the short and medium investment horizons. Second, the BDS test shows that nonlinearity is crucial when examining the role of infectious disease-based equity market volatility in affecting the interactions between clean energy stocks and African stock markets. Third, the causal analysis provides evidence in support of a nonlinear causal relationship between uncertainties due to infectious diseases and the connection between both markets, mostly at lower and median quantiles.
Originality/value
Considering the global and recent use of clean energy equities and the stock markets for hedging and speculative purposes, one may argue that rising uncertainties may significantly influence risk transmissions across these markets. This study, therefore, is the first to examine the role of pandemic uncertainty on the connection between clean stocks and the African stock markets.
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Hasan Tekin and Ali Yavuz Polat
This study assesses the impact of environmental, social and governance (ESG) certification on capital structure decisions considering the COVID-19 pandemic.
Abstract
Purpose
This study assesses the impact of environmental, social and governance (ESG) certification on capital structure decisions considering the COVID-19 pandemic.
Design/methodology/approach
The study utilizes the annual Asset-4 and Datastream data of Thomson Reuters Eikon for non-financial firms in member states of the Organization of Islamic Cooperation (OIC). Firm-fixed effects are used to avoid unobserved heterogeneity.
Findings
Firms with higher corporate sustainability have a higher leverage ratio. The positive impact of ESG scores on book leverage became more significant during the COVID-19 pandemic. These findings imply that ESG activities might serve as a signalling tool, especially considering the pandemic: ESG activities mitigate financial constraints when they are most pronounced and impactful.
Practical implications
Firms should invest in ESG activities to alleviate financial constraints. Researchers and practitioners are encouraged to explore how ESG and macro-specific factors jointly affect debt financing. Policymakers should incentivize ESG investment to reduce agency conflicts. Regulators in OIC countries should support firms that are encountering obstacles in obtaining ESG certification.
Originality/value
To date, the role of ESG investing in capital structure policy by considering the recent pandemic has not been assessed in OIC countries.