Tanveer Ahsan, Sultan Sikandar Mirza, Bakr Al-Gamrh, Chai Bin-Feng and Zia-Ur-Rehman Rao
The purpose of this study is to investigate the moderating impact of corporate governance (CG) on the relationship between economic policy uncertainty (EPU) and the sustainable…
Abstract
Purpose
The purpose of this study is to investigate the moderating impact of corporate governance (CG) on the relationship between economic policy uncertainty (EPU) and the sustainable growth (SG) of Chinese firms.
Design/methodology/approach
The study collects data of 975 Chinese non-financial listed firms for the period from 2010 to 2017. The study measures SG using a comprehensive index based on nine financial indicators and applies industry and year fixed effects regression to investigate the direct and moderating impact of CG on the relationship between EPU and SG of Chinese firms.
Findings
The results of the study explain that EPU negatively affects SG, while concentrated ownership, board independence and board gender diversity (BGD) positively contribute to the SG of the Chinese firms. The results also explain that concentrated ownership and BGD reduce the negative impact of EPU on the SG of the Chinese firms.
Research limitations/implications
The study considers only non-financial firms; therefore, the results of this study cannot be generalized for financial firms. Future research can be carried out while considering financial firms as a unit of analysis.
Practical implications
The investigation of the negative impact of policy uncertainty on SG is essential for the government and policymakers to devise policies to reduce uncertainty. The investigation of the moderating effect of CG enriches the literature on corporates’ response to policy uncertainty. It provides valuable insights for corporates regarding CG mechanisms to attain SG.
Originality/value
To the best of the authors’ knowledge, this is the first study that investigates the moderating impact of CG on the SG of Chinese firms using an index-based measurement of SG.
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Feng Bin and Qihao Miao
Although a large number of Chinese libraries keep some sort of electronic publications, mainly formal publications on CD‐ROM and online, the usage is quite different from one…
Abstract
Purpose
Although a large number of Chinese libraries keep some sort of electronic publications, mainly formal publications on CD‐ROM and online, the usage is quite different from one library to another. While the hardcopy business process is mature, the rules and regularities of electronic publications in libraries are under development; many business models are on a trial basis. This paper plans to investigate what and how many of these electronic materials should be bought and brought to the users, and how they are used, which are still embarrassing questions for librarians.
Design/methodology/approach
The authors made an inquiry into the current status of formal electronic publications, including e‐books and e‐journals at the two major library groups: public and university libraries, as found out from the explanation of the gap by literature analysis and interview.
Findings
Through the survey on a few leading libraries of China, we found the big usage gap of e‐journals in public versus university libraries in China. The factors that cause the usage difference are that public libraries have diversified reader needs, lack of general‐purpose e‐publication, inferior skill in using e‐publications, a charging service model of e‐publications, less negotiating power and pricing.
Originality/value
The authors believe that if the improvements outlined in the paper are introduced, then public libraries can lift their e‐publication service to a higher standard, including extension of the subject scope, building of consortia, upgrading of the reading environment, and enhancing of the user training and service.
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XiaoYan Jin and Sultan Sikandar Mirza
Digitalization is increasingly important for promoting authentic CSR practices. Firms with higher CSR levels motivate their employees to pursue their goals and demonstrate their…
Abstract
Purpose
Digitalization is increasingly important for promoting authentic CSR practices. Firms with higher CSR levels motivate their employees to pursue their goals and demonstrate their social responsibility. However, the literature has not adequately examined how firm-level digitalization influences corporate sustainability from a governance perspective. This study aims to fill this gap by exploring how digitalization affects CSR disclosure, a key aspect of sustainability, at the firm level. Furthermore, this study also aims to investigate how governance factors, such as management power, internal control and minority shareholder pressure, moderate this effect.
Design/methodology/approach
This study employs a fixed effect model with robust standard errors to analyze how digitalization and CSR disclosure are related and how this relationship is moderated by governance heterogeneity among Chinese A-share companies from 2010 to 2020. The sample consists of 2,339 firms, of which 360 are SOEs and 1,979 are non-SOEs. To ensure robustness, this study has excluded the observations in 2020 to avoid the effects of COVID-19 and used an alternative measure of CSR disclosure based on the HEXUN CSR disclosure index. Furthermore, this study also explores the link in various corporate-level CSR settings.
Findings
The regression findings reveal that: First, Chinese A-share firms with higher digitalization levels disclose less CSR information. This finding holds for both SOEs and non-SOEs. Second, stronger management power has a negative moderating effect that weakens the link between digitalization and CSR disclosure, and this effect is mainly driven by SOEs. Third, internal control attenuates the negative association between firm digitalization and CSR disclosure, which is more pronounced in SOEs. Finally, minority shareholders exacerbate the negative relationship between digitalization and CSR disclosure, and this effect is more evident in non-SOEs. These results are robust to excluding the potential COVID effect and using an alternative HEXUN CSR disclosure index measure.
Originality/value
Digitalization and sustainability have been widely discussed at a macro level, but their relationship at a micro level has been largely overlooked. Moreover, there is hardly any evidence on how governance heterogeneity affects this relationship in emerging economies, especially China. This paper addresses these issues by providing empirical evidence on how digital transformation influences CSR disclosure in China, a context where digitalization and CSR are both rapidly evolving. The paper also offers implications for both practitioners and policymakers to design appropriate digital strategies for firm development from diverse business perspectives.
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Wen-Jung Chang, Da-Chian Hu and Panay Keliw
Therefore, this study aims to explore the relationships among OC, KS, OCB and OI “Organization” is often seen as a company and few studies pay much attention to tribes and other…
Abstract
Purpose
Therefore, this study aims to explore the relationships among OC, KS, OCB and OI “Organization” is often seen as a company and few studies pay much attention to tribes and other related organizations and communities of Indigenous peoples. However, Indigenous peoples production organizations (IPPOs) would be certainly influenced by factors from the internal/external, including organizational culture (OC), organizational citizenship behavior (OCB), knowledge sharing (KS) and organizational innovation (OI). Therefore, this study aims to explore the relationships among OC, KS, OCB and OI.
Design/methodology/approach
Based on valid 139 Indigenous workers in IPPOs, this study used structural equation modeling to validate the relationships among OC, OCB, KS and OI.
Findings
The empirical findings indicate that OC would significantly influence OCB and OI, whereas KS would not have significant impact on OI. In addition, OC would not influence KS as usual, whereas OCB would do. Finally, OCB would impact KS.
Practical implications
As OCB acts as a complete mediator in OC–KS relationship, it means that these IPPOs already have OCB to motivate their staffs to do KS, but not enough to achieve more excellent performance on innovation.
Originality/value
Compared to past studies, this study aims to investigate the theory of organizational behavior and whether it is suitable between general businesses and IPPOs.
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Shikuan Zhao, Ahmed Imran Hunjra, David Roubaud and Fuxian Zhu
In the context of macroeconomic fluctuations and uncertainty in policy changes, it is essential to understand how companies adapt their environmental strategies and marketing…
Abstract
Purpose
In the context of macroeconomic fluctuations and uncertainty in policy changes, it is essential to understand how companies adapt their environmental strategies and marketing tactics to ensure survival and growth. This study, therefore, examines the impact of perceived economic policy uncertainty on corporate greenwashing.
Design/methodology/approach
Based on panel data from listed companies on the Chinese A-share market between 2013 and 2022, this paper employs a high-dimensional fixed effects model to explore the impact of perceived economic policy uncertainty (PEPU) on corporate greenwashing behavior.
Findings
The results show that higher PEPU increases greenwashing, with agency costs and investor sentiment mediating the relationship. Corporate credit availability and managerial short-sightedness positively moderate this effect. Heterogeneity analysis reveals that non-state-owned enterprises in central and western regions, particularly those with weak environmental regulation and high pollution, are most impacted by PEPU.
Practical implications
This paper provides practical guidance for how to avoid the phenomenon of green reshuffle in economic and environmental policies and encourages enterprises to take more real and effective environmental protection measures.
Originality/value
These findings highlight the importance of considering corporate responses to policy uncertainty when formulating economic and environmental policies. They provide valuable insights for emerging economies in fostering genuine corporate environmental behavior and promoting sustainable development.
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Ibrahim Bakry, Osama Moselhi and Tarek Zayed
Construction projects are complex projects taking place in dynamic environments, which necessitates accounting for different uncertainties during the planning stage. There is a…
Abstract
Purpose
Construction projects are complex projects taking place in dynamic environments, which necessitates accounting for different uncertainties during the planning stage. There is a significant lack of management tools for repetitive projects accounting for uncertainties in the construction environment. The purpose of this paper is to present an algorithm for the optimized scheduling of repetitive construction projects under uncertainty.
Design/methodology/approach
Fuzzy set theory is utilized to model uncertainties associated with various input parameters. The developed algorithm has two main components: optimization component and buffering component. The optimization component presents a dynamic programming approach that processes fuzzy numbers. The buffering component converts the optimized fuzzy schedule into a deterministic schedule and inserts time buffers to protect the schedule against anticipated delays. Agreement Index (AI) is used to capture the user’s desired level of confidence in the produced schedule while sizing buffers. The algorithm is capable of optimizing for cost or time objectives. An example project drawn from literature is analysed to demonstrate the capabilities of the developed algorithm and to allow comparison of results to those previously generated.
Findings
Testing the algorithm revealed several findings. Fuzzy numbers can be utilized to capture uncertainty in various inputs without the need for historical data. The modified algorithm is capable of optimizing schedules, for different objectives, under uncertainty. Finally AI can be used to capture users’ desired confidence in the final schedule.
Originality/value
Project planners can utilize this algorithm to optimize repetitive projects schedules, while modelling uncertainty in different input parameters, without the need for relevant historical data.
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Bilu Cheng and Siyu Hou
The purpose of this study is to investigate the influence of brand equity on corporate financial performance across various institutional factors in China, encompassing macro…
Abstract
Purpose
The purpose of this study is to investigate the influence of brand equity on corporate financial performance across various institutional factors in China, encompassing macro (regional economic development and product market development), meso (industry uncertainty), and micro (CEO overseas experience) levels.
Design/methodology/approach
Using archival data related to Chinese listed companies, this study employs standard error combined with fixed effect regression for model estimation to empirically evaluate the impact of brand equity on financial performance (Tobin’s q) and its boundary effects.
Findings
This study reveals that in China, the influence of brand equity on Tobin’s q isn’t significant. However, when considering institutional factors across various levels, its impact becomes significant. Specifically, the positive effect of brand equity on Tobin’s q in China is more pronounced in regions with higher economic or product market development, industries with high uncertainty, or when the CEO has overseas experience.
Research limitations/implications
This study enriches the brand-related marketing literature in China and highlights the potential underperformance of brand equity within this context. Furthermore, this study advances the integration of resource-based view with institutional theory by combining brand equity with institutional factors at the macro-, meso-, and micro-level in China.
Originality/value
This study focuses on brand performance in China, the largest emerging market, emphasizing the importance of integrating brand equity with diverse institutional factors to amplify its beneficial influence on financial performance.
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Yong Qin, Xinxin Wang, Zeshui Xu and Marinko Skare
The debate over differences in the behaviors of firms facing globalization is ongoing. This study examines whether globalization impacts the behavior of family firms and if this…
Abstract
Purpose
The debate over differences in the behaviors of firms facing globalization is ongoing. This study examines whether globalization impacts the behavior of family firms and if this influence differs between family and non-family firms.
Design/methodology/approach
Drawing on panel data from the Amadeus database on 62 family firms and 98 non-family firms in Europe, the authors employ panel vector autoregression estimation and the Wald test of Granger causality to verify our conjecture. Additional impulse response functions and the forecast error variance decomposition technique were applied to illustrate complementary shock dynamics. Additionally, the KOF globalization index is used as a proxy for globalization.
Findings
The results show that globalization visibly impacts family and non-family firms, but the polarity and extent of the effect are different. The authors demonstrate that family firms are in a more favorable position regarding globalization and are less vulnerable to the adverse effects of the globalization process. In contrast, non-family firms fare worse, generating adverse effects. Non-family firms take a more open stance toward globalization than family firms' more conservative behaviors.
Research limitations/implications
Of course, there are some limitations to the work presented in this paper. On the one hand, the authors’ data span only ten years due to data limitations. This causes the generalizability of the results to be hindered. Therefore, the authors encourage scholars to collect more time series data to increase confidence in the empirical results in future studies. On the other hand, the selection of proxy indicators concerning family firm behavior is mainly focused on financial and employment facets. A multidimensional selection of indicators could make the findings of this study more convincing. Despite its limitations, the study certainly adds to the authors’ understanding of its behavior and globalization activities.
Practical implications
The authors’ findings have twofold theoretical and practical implications, as they highlight the necessity of developing specific policies aimed at reducing the gap between family and non-family facing globalization and promoting sustainable operations of non-family firms. Although family firms tend to be more frugal and conservative in their overall decision-making, it should be acknowledged that stockholder and stakeholder interest-oriented corporate management policies have made them more capable of steadily improving corporate performance in the sweep of globalization.
Social implications
To this end, this study deepens the authors’ understanding of the theory of global governance of family firms. It also provides possible paths and directions for future theoretical research on family firms. Globalization affects both family and non-family firms, but our results suggest that family firms are better able to withstand the adverse effects of globalization shocks and adopt efficient governance paths and strategic thinking to gain a competitive advantage. In this regard, the authors encourage non-family firms to actively learn from family firms' operational practices and systems to achieve better adaptability.
Originality/value
This study provides strong empirical evidence on the effectiveness of family firms' governance patterns and business behavior under globalization. Additionally, this study also reveals that managers can learn from the practical experience of family firms to help them confront business crises and gain a sustainable competitive advantage.
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Terrorism, an important component of Political risk as a possible determinant of ADRs (American Depository Receipts) returns have received little attention in academic literature…
Abstract
Terrorism, an important component of Political risk as a possible determinant of ADRs (American Depository Receipts) returns have received little attention in academic literature. To address this issue and examine whether political risk is a major determinant of ADR returns of emerging market countries, this paper empirically examines market valuation of Indian ADRs around acts of terrorism. Using a sample of 52 such events in the sample period Jan 2003‐Dec 2003 we empirically analyze returns of Indian ADRs. The results from our study indicate a marginally negative significant effect, failing to indicate that event of terrorist attacks severely affect the Indian ADRs listed on the US stock market. This may be explained by a combined effect of; (a) the optimism of US investors towards emerging markets, and (b) market participants becoming more resilient and making informed choices around the “general” events of terrorism.
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Chengwei Zhang, Sultan Sikandar Mirza, Tanveer Ahsan and Sardar Muhammad Usman
This study aims to investigate the impact of managerial power distance on the corporate sustainability performance of Chinese firms and to explore the regulatory role of corporate…
Abstract
Purpose
This study aims to investigate the impact of managerial power distance on the corporate sustainability performance of Chinese firms and to explore the regulatory role of corporate digitalization in the Chinese capital market.
Design/methodology/approach
The study collects data from 2,632 A-share Chinese non-financial firms listed on Shanghai and Shenzhen stock exchanges during the period from 2010 to 2020. The authors apply different panel data regression techniques (fixed effects, GMM-System) to investigate the impact of managerial power distance on corporate sustainability performance and to explore the regulatory role of corporate digitalization in the Chinese capital market.
Findings
The results of the study show a positive relationship between high managerial power distance and the sustainability performance of Chinese non-financial firms. This positive relationship is particularly pronounced in Chinese state-owned enterprises (SOEs). The results also show that corporate digitalization increases the sustainability performance of Chinese firms. Further, corporate digitalization weakens the positive relationship between high-power distance and the sustainability performance of Chinese firms. These results are robust to alternate sustainability performance measures and various regression techniques.
Originality/value
To the best of the authors' knowledge, this is the first study that investigates the regulating impact of corporate digitalization on the relationship between managerial power distance and corporate sustainability performance in China.