Outlines the framework of regulation of advertising in Australia; that affecting children has developed as part of the whole picture, which combines federal, state/territory…
Abstract
Outlines the framework of regulation of advertising in Australia; that affecting children has developed as part of the whole picture, which combines federal, state/territory consumer protection legislation with a myriad of industry‐specific codes of practice and guidelines. Begins with consumer protection legislation, which includes the federal Trade Practices Act 1974 and corresponding state Fair Trading Acts; and broadcasting legislation, such as the Australian Broadcasting Authority’s Children’s Television Standards. Moves on codes and guidelines relating to children, including the Australian Association of National Advertisers’ ethics code, commercial radio codes of practice and guidelines, the commercial television code of practice, the Telephone Information Services Standards Council’s code of practice, the Australian Direct Marketing Association’s online marketing guidelines, the internet industry code of practice, alcohol and tobacco, and recent developments.
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Phillip T. Lamoreaux, Lubomir P. Litov and Landon M. Mauler
We document the emergence of the Lead Independent Director (LID) board role in a sample of U.S. firms from 1999–2015. We find that firms that adopt an LID board role are larger…
Abstract
We document the emergence of the Lead Independent Director (LID) board role in a sample of U.S. firms from 1999–2015. We find that firms that adopt an LID board role are larger and have more independent boards, higher institutional investor holdings, and an NYSE listing. Firms with greater anticipated benefits from monitoring also adopt an LID role, e.g., firms with dual CEO-Chairman, with more takeover defense mechanisms, and with higher cash holdings. Using an event study methodology, we find that investors respond positively to the adoption of an LID board role. Lastly, using instrumental variables to address endogeneity in the LID board role, we find that firms with an LID are more likely to terminate poorly performing CEOs. Taken as a whole, these results suggest that the LID board role enhances firm value and improves the quality of corporate governance.
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Dorsaf Chaher and Lassaad Lakhal
This article aims to examine the direct and indirect effect among total quality management (TQM), corporate social responsibility (CSR) and financial and non-financial performance.
Abstract
Purpose
This article aims to examine the direct and indirect effect among total quality management (TQM), corporate social responsibility (CSR) and financial and non-financial performance.
Design/methodology/approach
The empirical data were collected from a survey of 120 Tunisian certified firms using questionnaires. Structural equation path modeling PLS-SEM) was performed to test the research hypotheses.
Findings
The results indicate that TQM has no direct effect on financial performance (FP), while they positively impact non-financial performance (NFP) and CSR. The study also shows that CSR positively and significantly influences FP and NFP. In addition, it reveals the positive impact of FP on NFP. Furthermore, the results reveal an indirect effect of TQM on financial and non-financial performance through CSR.
Originality/value
The empirical study bridges the gap in the literature by analyzing the direct and indirect effect between TQM, CSR and performance in a single model. It also highlights the important role of CSR between TQM and financial and non-financial performance in the context of emerging countries.
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Umaira Danish Dervi, Ashraf Khan, Irum Saba, M. Kabir Hassan and Andrea Paltrinieri
Green finance has shown the importance of being socially responsible and supporting the flow of financial instruments to develop environmentally sustainable and ethical business…
Abstract
Purpose
Green finance has shown the importance of being socially responsible and supporting the flow of financial instruments to develop environmentally sustainable and ethical business models. The growing trends raised the need for a quantitative study to address scientific performance analysis and intellectual development. This paper aims to cater quantitative statistics, through a bibliometric review to understand the vital intellectual and influential constitution of green and socially responsible finance.
Design/methodology/approach
The authors apply trending and cutting-edge quali-quantitative approach of bibliometric citation analysis and review of 280 journal articles from the Web of Science database for the period of 1981–2021.
Findings
The results identify the leading academic authors, journals, institutions and countries with relation to green and socially responsible finance literature. We also discuss three research streams in this field: (1) overview of green finance, perception and investor behavior; (2) analysis of performance models and growth factors of green finance; (3) pricing mechanism of SRI. Finally, we identify the research gaps within existing green finance literature, proposing 30 research questions for the future agenda.
Research limitations/implications
The study confines on the Web of Science database, English published articles in known journals and reviews only. It relies on a reputable source and top scientific productions with the most direct link to green finance.
Originality/value
To the best of the authors knowledge, this paper is the first to discuss research streams in the literature of Green finance from a bibliometric aspect along with vast coverage of articles from reputed journals and databases till date. The results of this research along with future research questions will guide the researchers and academicians to further explore and stand on solid quantitative basis regarding the scientific development of Green finance.
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Posits that trade in agriculture constitutes the main element of the ongoing multilateral trade negotiations, with the World Trade Organisation, which has a conclusion date of 1…
Abstract
Posits that trade in agriculture constitutes the main element of the ongoing multilateral trade negotiations, with the World Trade Organisation, which has a conclusion date of 1 January 2005. Acknowledges that liberalization of trade in this sector was the prime reason why developing countries joined the WTO. Reckons that developed countries resist mounting pressure of decisive moves towards agricultural improvement, during the trade negotiations, by trying to protect their own agricultural sectors from foreign competition.
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Erin I-Ping Castellas, Jarrod Ormiston and Suzanne Findlay
This paper aims to explore the emergence and nature of impact investment in Australia and how it is shaping the development of the social enterprise sector.
Abstract
Purpose
This paper aims to explore the emergence and nature of impact investment in Australia and how it is shaping the development of the social enterprise sector.
Design/methodology/approach
Impact investment is an emerging approach to financing social enterprises that aims to achieve blended value by delivering both impact and financial returns. In seeking to deliver blended value, impact investment combines potentially conflicted logics from investment, philanthropy and government spending. This paper utilizes institutional theory as a lens to understand the nature of these competing logics in impact investment. The paper adopts a sequential exploratory mixed methods approach to study the emergence of impact investment in Australia. The mixed methods include 18 qualitative interviews with impact investors in the Australian market and a subsequent online questionnaire on characteristics of impact investment products, activity and performance.
Findings
The findings provide empirical evidence of the rapid growth in impact investment in Australia. The analysis reveals the nature of institutional complexity in impact investment and highlights the risk that the impact logic may become overshadowed by the investment logic if the difference in rigor around financial performance measurement and impact performance measurement is maintained. The paper discusses the implications of these findings for the development of the Australian social enterprise sector.
Originality/value
This paper provides empirical evidence on the emergence of impact investment in Australia and contributes to a growing global body of evidence about the nature, size and characteristics of impact investment.
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Nicolas Postel and Richard Sobel
This study aims to focus on the understanding corporate social responsibility (CSR), this “novel” form of corporate engagement, and evaluating its capacity to regulate capitalism…
Abstract
Purpose
This study aims to focus on the understanding corporate social responsibility (CSR), this “novel” form of corporate engagement, and evaluating its capacity to regulate capitalism. The authors advance the following thesis: CSR constitutes a new variety of regulation of capitalism which, to work efficiently, must be built on collective institutions (through both collective agreements and forms of coercion), instead of strictly contractual forms (based on inter-individual relations and voluntary commitments).
Design/methodology/approach
To support this thesis, the authors use Karl Polanyi’s theory, in particular his concept of “fictitious commodities”. Like Polanyi, we contend that CSR is a necessary reaction to the new “great transformation” brought about by the financialisation of our economy which is currently in crisis. Polanyi agrees that this kind of regulation can yield results only when based on collective institutions. In the last section of the study, the authors attempt to determine how a “conventionalist analysis” of CSR could help us to precisely describe this phenomenon and how it could be institutionalised by actors (both inside and outside companies).
Findings
This paper theoretically demonstrates the role of institutions in CSR processes and the need to weigh them theoretically. In this sense, the paper demonstrates the aporia of a strictly contractualist framework, not only for the understanding of the phenomenon, but for its deployment.
Research limitations/implications
This study proposes a theoretical framework, which is yet to be consolidated by empirical research.
Practical implications
The paper proposes salient elements of a public policy of responsibility.
Social implications
The paper proposes a methodological framework to go beyond a bilateral representation of the institutional framework and to produce a collective representation of the negotiation.
Originality/value
This is an original paper in its theoretical positioning and the implications it suggests for economic policy.