This paper aims to emphasize the importance and current deficits of non-financial impact (NFI) assessment of socially responsible investment (SRI) with reference to the action…
Abstract
Purpose
This paper aims to emphasize the importance and current deficits of non-financial impact (NFI) assessment of socially responsible investment (SRI) with reference to the action plan of the European Commission (EC) for a greener and cleaner economy.
Design/methodology/approach
The importance and current deficits of NFI assessment are evaluated theoretically and condensed to an equilibrated socially responsible investment (ESRI) perspective, based on a narrative literature review of highly ranked academic journals.
Findings
Due to a deficient exploration of NFI in theory and practice, the role of SRI funds for sustainability transition has not yet been adequately discussed. This has enabled a situation where a constantly rising market share of SRI has not led to similar sustainability achievements. This strongly contrasts with investors’ expectations, the self-portrayal of the sector and the goals of the EC’s action plan. As a solution, the developed ESRI perspective elevates NFI as a second cornerstone for theory and practice. ESRI, contrary to the EC, sets a primer on the role of SRI fund management for achieving sustainability goals.
Originality/value
This study reveals how SRI theory and practice neglect the importance of NFI. The presented ESRI perspective enables scholars to examine SRI practices more holistically through a new theoretical lens. One special focus is on the role of SRI fund management as a transmission mechanism to push portfolio companies’ business practices toward more sustainable behavior.
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This paper aims to substantiate the premise that the very task of socially responsible investment (SRI) today is to achieve impact. Based on extensive empirical studies on how…
Abstract
Purpose
This paper aims to substantiate the premise that the very task of socially responsible investment (SRI) today is to achieve impact. Based on extensive empirical studies on how different strategies deliver on this impact premise, it recommends changing the current strategy mix from a focus on exclusion to shareholder engagement.
Design/methodology/approach
Based on an extensive review of the SRI literature, various SRI strategies are theoretically evaluated. Subsequently, an example of a bank that applies a sophisticated engagement strategy is presented.
Findings
It is shown that there are indeed severe differences in the effects of exclusion, positive approaches and shareholder engagement. Impact-oriented investment products should use engagement strategies.
Practical implications
By providing an empirically based rationale for shareholder engagement, this article gives those who practice it a moral and economic justification. Instead of having to defend why there are seemingly unethical companies in their portfolio, they can go on the offense and counter that the “pure” role models are actually “impact washers”.
Social implications
By emphasizing the primacy of the impact of investment products, the transmission mechanism of the capital market to create positive change for the environment and society is strengthened. This should lead to improvements in both areas.
Originality/value
While there are some other studies that examine investor impact in some way, they often do so in a context that is unrelated of sustainable investments. This study structures the empirical evidence on the effectiveness of exclusion, positive approaches and shareholder engagement and provides a recommended course of action for investors and policymakers.
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This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.
Abstract
Purpose
This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.
Design/methodology/approach
This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.
Findings
Achieving a positive impact has become the goal of socially responsible investment (SRI) today. Although various approaches are available, investors become better positioned to achieve environmental, social and economic aims through an emphasis on shareholder engagement whereby strategies can be deployed to pressure firms into conducting activities in a more ethical manner.
Originality/value
The briefing saves busy executives, strategists and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.
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Rachael E. Wells and Joel Brockner
Building upon the psychological literature on responses to potentially traumatic events (e.g., Bonanno, 2004; Tugade & Fredrickson, 2004), this chapter explores the potential…
Abstract
Building upon the psychological literature on responses to potentially traumatic events (e.g., Bonanno, 2004; Tugade & Fredrickson, 2004), this chapter explores the potential impact of managers’ affective expressions during tumultuous times at work. We propose that managerial displays of positive emotions that are also socially appropriate and authentically experienced will enhance employee and team change-related outcomes. We also explain why emotional suppression on the part of managers may be detrimental to healthy employee responses to change. Finally, we discuss theoretical and practical implications of this model.
Michael A Gillespie, William K Balzer, Michelle H Brodke, Maya Garza, Erin N Gerbec, Jennifer Z Gillespie, Purnima Gopalkrishnan, Joel S Lengyel, Katherine A Sliter, Michael T Sliter, Scott A Withrow and Jennifer E Yugo
The purpose of this paper is to discuss the importance of norms and inference, while providing national overall and subgroup norms for the updated Job Descriptive Index and Job in…
Abstract
Purpose
The purpose of this paper is to discuss the importance of norms and inference, while providing national overall and subgroup norms for the updated Job Descriptive Index and Job in General measures of job satisfaction.
Design/methodology/approach
A stratified random sample was drawn from an online panel to represent the US working population on key variables. Validity evidence is provided. Determination of subgroup norms was based on practical significance.
Findings
The revised measures fit the theorized model and patterns of results are consistent with the literature. Practical subgroup differences were found for some stratification variables. Subgroup norms are made available; the first US overall norms are provided.
Research limitations/implications
An updated job satisfaction measurement system is made available, complete with nationally representative overall and subgroup norms. A major limitation and direction for future research is the lack of norms for other nations.
Practical implications
The revised measurement system is available for use in practice. National overall norms improve decision-makers’ ability to infer respondents’ relative standing and make comparisons across facets and employees. The JDI is useful for dimensional diagnostics and development efforts; the JIG is useful for evaluating overall job satisfaction levels.
Social implications
By facilitating valid inferences of job satisfaction scores, the revised measurement system serves to enhance the quality of life at work.
Originality/value
The authors provide the only publicly available job satisfaction measurement system that has US national overall norms.
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The purpose of this paper is to investigate the influence of six core behavioural factors on financial risk tolerance (FRT). The study also analyses the role of religiosity in the…
Abstract
Purpose
The purpose of this paper is to investigate the influence of six core behavioural factors on financial risk tolerance (FRT). The study also analyses the role of religiosity in the relationship between behavioural factors and FRT.
Design/methodology/approach
Empirical data were collected using a survey questionnaire. A total of 1,679 questionnaires were distributed to six public universities in the Klang Valley. However, only 1,204 questionnaires were completed and used for analysis. This study employs structural equation modelling to validate and assess proposed research model.
Findings
The results of the analysis demonstrated some new findings. The findings indicate that propensity for regret, propensity for trust, happiness in life, propensity to attribute success to luck and propensity for overconfidence have a significant influence on FRT while propensity for social interaction does not. The results also provide support for the moderating effects of religiosity in the proposed research model.
Originality/value
The findings highlight the important role of behavioural determinants to assess individuals’ FRT. Understanding FRT is a complex process that goes beyond the exclusive use of behavioural factors. Thus, more research is clearly needed to resolve which additional factors can be used by financial advisors to increase the explained variance in FRT differences.
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Gerardo Joel Anaya, Li Miao, Anna S. Mattila and Barbara Almanza
This paper aims to explore consumer envy in the context of service encounters. Envy-elicited cognitive appraisals, emotions, interpersonal and organizational consequences were…
Abstract
Purpose
This paper aims to explore consumer envy in the context of service encounters. Envy-elicited cognitive appraisals, emotions, interpersonal and organizational consequences were examined.
Design/methodology/approach
An online survey was used to collect 311 actual episodes of consumer envy. Both qualitative and quantitative analyses were used to answer the research questions.
Findings
This research identified five different triggers of consumer envy during service encounters, each associated with distinct cognitive appraisal patterns. Moreover, envious customers might experience three qualitatively different shades of envy labeled as “blue envy”, “red envy” and “green envy”. Actions taken by service providers are found to be a major cause of consumer envy, and they elicit emotions associated with complaining, negative word of mouth, lower encounter satisfaction and lower repurchase intention.
Research limitations/implications
While significant contributions are made, this study relied on self-reported data. Given that envy is considered a private and sensitive emotion, participants may have withheld from sharing some of the more socially undesirable details of their envy episodes.
Practical implications
The results stress the importance for service providers to avoid a perception of unfair preferential treatment. This perception of service unfairness is associated with hostility directed at service employees and negative organizational consequences.
Originality/value
This study is among the first to examine consumer envy in the context of service encounters.
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Thurid Hustedt and Heidi Houlberg Salomonsen
Neutrality has traditionally been considered a key trait of the civil service in Western democracies. The conception of the neutral bureaucracy is closely linked to the notion of…
Abstract
Neutrality has traditionally been considered a key trait of the civil service in Western democracies. The conception of the neutral bureaucracy is closely linked to the notion of the prominent politics–administration dichotomy of the two spheres of politics and administration, as advocated by Max Weber (1980) and Woodrow Wilson (1887). According to conventional wisdom, the firm and encompassing implementation of the merit principle realises the idea of a neutral bureaucracy. In that respect, neutrality and merit-based recruitments are often considered the opposite of politicisation. Conventionally, a neutral bureaucracy is considered to assure competence and immunity against opportunistic ideas brought in by volatile, sometimes erratic political leadership. Because elected politicians come and go with elections, they cannot ensure that political decisions are carried out based on the ‘best’ available knowledge. In that sense, bureaucrats are conceived as neutral, obedient servants that subordinate their behaviour to the will of political masters, to the law and the common good. However, there is no strict politics–administration dichotomy in contemporary politico-administrative systems. Empirical findings from the late 1970s onwards demonstrated that bureaucrats are by no means as neutral and ‘apolitical’ as assumed, but rather remarkably involved in political processes. This chapter discusses the literature on neutral competence and presents an empirical analysis of Danish and British civil servants’ accounts of neutrality. This chapter concludes by suggesting the concept of competent neutrality and discussing implications for our understanding of bureaucratic neutrality.
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Norita Ahmad and Arief M. Zulkifli
This study aims to provide a systematic review about the Internet of Things (IoT) and its impacts on happiness. It intends to serve as a platform for further research as it is…
Abstract
Purpose
This study aims to provide a systematic review about the Internet of Things (IoT) and its impacts on happiness. It intends to serve as a platform for further research as it is sparse in in-depth analysis.
Design/methodology/approach
This systematic review initially observed 2,501 literary articles through the ScienceDirect and WorldCat search engines before narrowing it down to 72 articles based on subject matter relevance in the abstract and keywords. Accounting for duplicates between search engines, the count was reduced to 66 articles. To finally narrow down all the literature used in this systematic review, 66 articles were given a critical readthrough. The count was finally reduced to 53 total articles used in this systematic review.
Findings
This paper necessitates the claim that IoT will likely impact many aspects of our everyday lives. Through the literature observed, it was found that IoT will have some significant and positive impacts on people's welfare and lives. The unprecedented nature of IoTs impacts on society should warrant further research moving forward.
Research limitations/implications
While the literature presented in this systematic review shows that IoT can positively impact the perceived or explicit happiness of people, the amount of literature found to supplement this argument is still on the lower end. They also necessitate the need for both greater depth and variety in this field of research.
Practical implications
Since technology is already a pervasive element of most people’s contemporary lives, it stands to reason that the most important factors to consider will be in how we might benefit from IoT or, more notably, how IoT can enhance our levels of happiness. A significant implication is its ability to reduce the gap in happiness levels between urban and rural areas.
Originality/value
Currently, the literature directly tackling the quantification of IoTs perceived influence on happiness has yet to be truly discussed broadly. This systematic review serves as a starting point for further discussion in the subject matter. In addition, this paper may lead to a better understanding of the IoT technology and how we can best advance and adapt it to the benefits of the society.