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Article
Publication date: 12 January 2024

Lipeng Pan, Yongqing Li, Xiao Fu and Chyi Lin Lee

This paper aims to explore the pathways of carbon transfer in 200 US corporations along with the motivations that drive such transfers. The particular focus is on each firm’s…

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Abstract

Purpose

This paper aims to explore the pathways of carbon transfer in 200 US corporations along with the motivations that drive such transfers. The particular focus is on each firm’s embeddedness in the global value chain (GVC) and the influence of environmental law, operational costs and corporate social responsibility (CSR). The insights gleaned bridge a gap in the literature surrounding GVCs and corporate carbon transfer.

Design/methodology/approach

The methodology comprised a two-step research approach. First, the authors used a two-sided fixed regression to analyse the relationship between each firm’s embeddedness in the GVC and its carbon transfers. The sample consisted of 217 US firms. Next, the authors examined the influence of environmental law, operational costs and CSR on carbon transfers using a quantitative comparison analysis. These results were interpreted through the theoretical frameworks of the GVC and legitimacy theory.

Findings

The empirical results indicate positive relationships between carbon transfers and GVC embeddedness in terms of both a firm’s position and its degree. From the quantitative comparison, the authors find that the pressure of environmental law and operational costs motivate these transfers through the value chain. Furthermore, CSR does not help to mitigate transfers.

Practical implications

The findings offer insights for policymakers, industry and academia to understand that, with globalised production and greater value creation, transferring carbon to different parts of the GVC – largely to developing countries – will only become more common. The underdeveloped nature of environmental technology in these countries means that global emissions will likely rise instead of fall, further exacerbating global warming. Transferring carbon is not conducive to a sustainable global economy. Hence, firms should be closely regulated and given economic incentives to reduce emissions, not simply shunt them off to the developing world.

Social implications

Carbon transfer is a major obstacle to effectively reducing carbon emissions. The responsibilities of carbon transfer via GVCs are difficult to define despite firms being a major consideration in such transfers. Understanding how and why corporations engage in carbon transfers can facilitate global cooperation among communities. This knowledge could pave the way to establishing a global carbon transfer monitoring network aimed at preventing corporate carbon transfer and, instead, encouraging emissions reduction.

Originality/value

This study extends the literature by investigating carbon transfers and the GVC at the firm level. The authors used two-step research approach including panel data and quantitative comparison analysis to address this important question. The authors are the primary study to explore the motivation and pathways by which firms transfer carbon through the GVC.

Details

Sustainability Accounting, Management and Policy Journal, vol. 15 no. 2
Type: Research Article
ISSN: 2040-8021

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Book part
Publication date: 22 October 2019

David Mutua Mathuva, Mumbi Maria Wachira and Geoffrey Ikavulu Injeni

In this chapter, we examine whether corporate environmental reporting (CER) by listed companies in Kenya improves stock liquidity. The investigation is motivated by the growing…

Abstract

Purpose

In this chapter, we examine whether corporate environmental reporting (CER) by listed companies in Kenya improves stock liquidity. The investigation is motivated by the growing interest by corporations, investors, and regulators toward embracing ecological protection with a view to creating sustainable societies for the future.

Design/Methodology/Approach

Using a panel dataset comprising of 244 firm-year observations from 50 listed firms in Kenya over a five-year period (2011 to 2015), we perform fixed-effects regressions to discern whether CER is associated with stock liquidity. To examine this, we utilize bid-ask (as well as quoted) spreads measured over month −9 to month +3 relative to a firm’s year end.

Findings

Despite the seemingly low levels of CER across firms in the sample (average: 32.6%), the results depict that CER is positively associated with stock liquidity. The results are robust even when we consider changes in bid-ask spreads and CER together with the other variables. The same results emerge when we study the association between bid-ask spreads and each CER item at a time over the period 2011–2015.

Practical Implications

The results imply that listed companies in Kenya that engage in higher CER seem to be more attractive to investors. The higher CER seems to improve the information environment, hence reducing information asymmetry and therefore attracting investors. The results provide some evidence of positive economic consequences of engaging in additional disclosure over and above the traditional corporate financial reporting.

Originality/Value

The study adds onto the dearth of literature on the economic consequences of embracing additional disclosure frameworks in developing countries where the adoption of alternative reporting frameworks is at infancy.

Details

Environmental Reporting and Management in Africa
Type: Book
ISBN: 978-1-78973-373-0

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Book part
Publication date: 6 May 2024

Ines Bouaziz Daoud and Amani Bouabdellah

This study aims to investigate the association between Corporate Social Responsibility (CSR) and tax avoidance, as well as the effect of earnings performance on this link. We…

Abstract

This study aims to investigate the association between Corporate Social Responsibility (CSR) and tax avoidance, as well as the effect of earnings performance on this link. We suggest a negative association between CSR and tax avoidance based on the Stakeholder Theory. We also suggest that earnings performance moderates this relationship. Based on a sample of 25 Tunisian firms during the years 2012–2017, data were gathered via annual reports of the companies, and a survey-questionnaire was used to gather CSR information. The research design uses ordinary least squares (OLS) regression to investigate the association between CSR and tax. In addition, the analysis is performed using panel data to account for heterogeneity at the individual level and over time. Using this research design, the study provides a comprehensive examination of the effect of CSR on tax avoidance among Tunisian companies over a 6-year period. According to our findings, companies that participate in CSR initiatives show less tax avoidance than those that do not. Moreover, in line with the Slack Resource Theory, for businesses with higher earnings, the negative link between CSR and tax avoidance is stronger. Our research demonstrates that businesses may utilize CSR to improve their standing in the community and lower the likelihood of tax avoidance. These results suggest that profitable firms may have more funds available to spend on CSR initiatives and, as a result, are more motivated to maintain a positive reputation by refraining from tax avoidance strategies.

Details

The Emerald Handbook of Ethical Finance and Corporate Social Responsibility
Type: Book
ISBN: 978-1-80455-406-7

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Book part
Publication date: 28 September 2020

Joanna Golden, Mark Kohlbeck and Zabihollah Rezaee

Purpose – The purpose of this study is to investigate whether a firm’s cost structure (specifically, its cost stickiness) is associated with environmental, social, and governance…

Abstract

Purpose – The purpose of this study is to investigate whether a firm’s cost structure (specifically, its cost stickiness) is associated with environmental, social, and governance (ESG) sustainability factors of performance and disclosure.

Methodology/approach – This study uses MCSI Research KLD Stats (KLD) and Bloomberg databases for the 13-year period from 2003 to 2015 in constructing ESG performance and disclosure variables, respectively. The authors adopt the general cost stickiness models from Anderson, Banker, and Janakiraman (2003) and Banker, Basu, Byzalov, and Chen (2016) to perform the analysis.

Findings – The authors find that a firm’s level of cost stickiness is positively associated with certain sticky corporate social responsibility (CSR)/ESG activities (both overall and when separately classified as strengths or concerns) but not with other nonsticky CSR activities. The authors also show that the association between cost stickiness and ESG disclosure is incrementally stronger for firms with CSR activities classified as sticky. Furthermore, the authors provide evidence that ESG disclosure is greater when both cost stickiness and the degree of sticky CSR activities increase. The authors show that when cost stickiness is high and CSR activities are sticky, management has incentives to increase CSR/ESG sustainability disclosure to decrease information asymmetry.

Originality/value – The findings present new evidence to understand how management integrates cost management strategies with various dimensions of sustainability performance decisions and show that not all ESG activities are equally effective when it comes to cost stickiness. The authors also demonstrate that increased sustainability disclosure helps reduce information asymmetry incrementally more when both costs are sticky and CSR activities are sticky.

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Article
Publication date: 19 February 2019

Lijun (Gillian) Lei, Yutao Li and Yan Luo

The emergence of social media as a corporate disclosure channel has caused significant changes in the production and dissemination of corporate information. This review identifies…

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Abstract

The emergence of social media as a corporate disclosure channel has caused significant changes in the production and dissemination of corporate information. This review identifies important themes in recent research on the impact of social media on the corporate information environment and provides suggestions for further explorations of this new but fast-growing area of research. Specifically, we first review the evolution of Internet-based corporate disclosure and related regulations, and then focus on three recent streams of research: 1) companies’ use of social media; 2) information produced by non-corporate users and its impact on capital markets; and 3) the credibility of corporate information on social media platforms.

Details

Journal of Accounting Literature, vol. 42 no. 1
Type: Research Article
ISSN: 0737-4607

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Article
Publication date: 8 May 2018

Seokyoun Hwang and Bharat Sarath

The purpose of this paper is to examine whether the expected rate of return (ERR) management is related to disclosure of pension asset allocation. FAS 132R(1), which requires…

336

Abstract

Purpose

The purpose of this paper is to examine whether the expected rate of return (ERR) management is related to disclosure of pension asset allocation. FAS 132R(1), which requires firms to disaggregate the detailed categories of pension asset allocation, provides a natural experiment setting for investigating the effect of enhanced transparency on firm behavior.

Design/methodology/approach

The authors focus on the variation of voluntary disclosure and its effect on ERR management under the two different reporting regimes. The authors measure the variation of voluntary disclosure of the pension asset allocations in the pre-period of FAS 132R(1), by using the self-constructed disclosure score.

Findings

First, firms create flexibility in their choice of ERR through opaque disclosure of pension asset allocation. Next, firms with poor disclosures are more likely to adjust ERR downward when accounting standards require greater transparency, implying that, for firms with poor disclosures, mandated transparency in pension asset allocation plays a vital role in reducing the ERR management.

Research limitations/implications

The authors directly illustrate the impact of FAS 132R(1) on ERR management. The authors find that the impact of mandated transparency is not uniform across firms. Next, this study highlights the importance of disclosure in restricting managers’ earnings management motivation.

Originality/value

The authors hand collect the asset allocations under pre-FAS 132R(1) period from the 10-K pension footnotes for all S&P 500 firms, which allows the authors to identify the disclosure variation amongst the firms. Based on the variation of disclosure, the authors construct the ordinal measure of disclosure scores on which the testing indicator variables are built.

Details

Asian Review of Accounting, vol. 26 no. 2
Type: Research Article
ISSN: 1321-7348

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Book part
Publication date: 12 December 2003

Stewart W Herman

The past few years have seen a swelling of interest in explicitly Christian approaches to business ethics. The time is ripe, it would seem, to map the diversity of approaches…

Abstract

The past few years have seen a swelling of interest in explicitly Christian approaches to business ethics. The time is ripe, it would seem, to map the diversity of approaches within what I term “Christian business ethics.”1 Here I will frame the diversity of approaches as answers to the distinctive kind of question which religiously minded ethicists have brought to the terrain of business. I will not use theological or religious terms or categories, since such language is not likely to be of interest to philosophers and social scientists. Drawing up this map has been rendered easier by the fact that Christian business ethicists themselves have used a language which is readily accessible to listeners outside their traditions.

Details

Spiritual Intelligence at Work: Meaning, Metaphor, and Morals
Type: Book
ISBN: 978-0-76231-067-8

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Article
Publication date: 1 March 1984

J.P. Naughton

A case study using behaviour modification in a health care setting was conducted in a patient care unit at Massachusetts General Hospital, USA. The work productivity of the two…

360

Abstract

A case study using behaviour modification in a health care setting was conducted in a patient care unit at Massachusetts General Hospital, USA. The work productivity of the two unit assistants was examined to determine how well a programme of positive reinforcement would be accepted in that particular environment, and to evaluate the incorporation of a programme of positive reinforcement on the productivity of the workers.

Details

Education + Training, vol. 26 no. 3
Type: Research Article
ISSN: 0040-0912

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Article
Publication date: 15 November 2022

Michael McCann and Michael Hewitt

There is strong evidence that year-long work placements make students more employable and produces better academic performance. Despite this, UK participation rates remain…

426

Abstract

Purpose

There is strong evidence that year-long work placements make students more employable and produces better academic performance. Despite this, UK participation rates remain stubbornly low. The authors examine the influence of academic performance on students' willingness and ability to complete work placements.

Design/methodology/approach

This study’s novel conceptual framework distinguishes students by their intentions regarding work placements indicated at enrolment as well as whether they completed a work placement. The authors use a sample of 226 business and economics students, employing propensity score weighted multiple regression to analyse the influence of academic performance.

Findings

The results indicate that academic performance has a significant influence on the decision to include a work placement option at enrolment. For those students who do pursue work placements, first-year academic performance had a significantly positive impact on their ability to secure a placement job. Finally, completion of a work placement was beneficial to final year academic performance.

Practical implications

Work placements are beneficial. Since low academic performance deters students from pursuing such opportunities, universities may need to communicate the benefits better to encourage greater interest. Further, universities need to realistically manage the expectations of students with low academic performance who want to do work placements and provide targeted support during the application process. Furthermore, alternatives to work placements should be provided.

Originality/value

This research adds to the literature investigating the influence of academic performance through academic self-concept on students' investment decisions to include a work placement in their degree study and in students' ability to secure a work placement.

Details

Higher Education, Skills and Work-Based Learning, vol. 13 no. 1
Type: Research Article
ISSN: 2042-3896

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Article
Publication date: 12 February 2024

Trevor England

This study aims to examine whether and how the experience of specialized external governance mechanisms mandated by the Employee Retirement Income Security Act of 1974 – the…

144

Abstract

Purpose

This study aims to examine whether and how the experience of specialized external governance mechanisms mandated by the Employee Retirement Income Security Act of 1974 – the actuary and auditor – affect pension plan funding.

Design/methodology/approach

This study uses data from annual pension plan regulatory reports (Form 5500), Form 10-K filings, Form DEF 14A filings (company proxy statements) and publicly available data sources. The hand-collected data include information related to the pension plan’s actuary and auditor and various pension plan data disclosed in the company’s financial statement footnotes.

Findings

The author finds that more experienced actuaries and auditors are associated with better funded pension plans, especially when the company has higher financial risk or lower board independence. Additional analyses indicate that companies with more experienced actuaries and pension plan auditors are more likely to make higher annual pension plan contributions and hold fewer Level 3 fair value assets.

Originality/value

The dearth of pension plan governance research generally focuses on whether and how internal governance mechanisms affect pension plan funding. To the best of the author’s knowledge, this is the first empirical study of the relationship between external pension plan governance mechanisms and pension plan funding.

Details

Managerial Auditing Journal, vol. 39 no. 3
Type: Research Article
ISSN: 0268-6902

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