Search results for: Corporate social disclosure
9432 The Invisible Asset Influence on Corporate Performance: A Case Study
Authors: Hassan Medaghri Alaoui
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The accounting and financial reporting system in use today is over 500 years old and has failed to capture the new knowledge and innovation economy in which intangible assets are becoming increasingly valuable. Yet, there has been a growing acknowledgment among the research community as to the relevance of intellectual capital as a major enhancer of an organization’s well-being. Much of the research provides great support for how the IC is instrumental in determining financial and stock performances. As far as we know, this article is one of the earliest exploratory attempts to examine the intellectual capital impact on the corporate performance of the IT sector in Morocco. The purpose of this study is to verify empirically the influence of intellectual capital on firm performance. We have undertaken, over a fifteen-year period, a longitudinal (2005–2019) case study of a prominent payment-solutions company based in a developing economy with global operations.Keywords: intellectual capital, IT sector, measuring intellectual capital, modified value added intellectual capital coefficient, Morocco
Procedia PDF Downloads 1099431 Supply Chain and Performance Measurement: An Alignment With Sustainable Development Goals
Authors: Miriam Corrado, Roberta Ciccola, Maria Serena Chiucchi
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SDGs represent the last edge in the sustainability corporate practices, including the supply chain management. Supply chains are becoming more global and complex, can create more inclusive markets and make contribution to the advance of the sustainable development. In corporate practices, the presence of sustainability criteria in supply chain management could offer an opportunity to increase competitiveness and to meet stakeholders’ expectations in terms of sustainability and corporate accountability. The research aims to understand how focal companies can integrate SDGs in their supply chain and how they can measure and assess their impacts on SDGs. The study adopts a multiple case study methodology based on four case studies referred to companies committed in measuring SDGs’ performance in their supply chains. Preliminary findings demonstrate the willingness and the need of companies to commit under a supply-chain perspective for the achievement of SDGs. Companies recognize their role in impacting the SDGs through their procurement choices by defining and implementing an SDGs scoring system. The contribution of the study is twofold: first, given the lack of research and studies addressing the integration of SDGs in the supply chain and in the performance measurement systems, the research provides a contribution to the current academic literature in relation to these emerging gaps; second, the research provides a practical guidance to implement a sustainable supply chain and advance towards the achievement of SDGs.Keywords: sustainable supply chains, sustainable development goals, performance measurement, performance management
Procedia PDF Downloads 1899430 True Religious Piety and Its Social Implications an Analysis of Calvin’s Thought
Authors: Philip Tachin
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Despite the positive contributions that religion has impacted human society, religious discrimination and violence also have been growing globally with extreme negative effects on human life and social relationships. Believers in religious extremism are motivated by a sense of exhibiting true religious piety in which case they do not only withhold their practical benevolence from those who do not belong to their faith but they even seek the elimination of other adherents from human existence. This phenomenon has a very high magnitude in Nigeria over the years, which deserves more research for the purpose of finding sustainable solutions to the problem. Calvin believed that true religious piety must, among other things, be categorized in personal and corporate positive social actions that esteem human needs irrespective of ethnic, ideological and belief differences. It is therefore appropriate to pose the following questions: Should true religious piety be seen in terms of how the actions of adherents positively impact human society? Could Calvin’s idea on this issue be very significant and helpful in the context of the Nigerian situation? In answering these questions, this research will limit its investigation to Calvin’s Institutes and some of his Commentaries. The goal of this research is to offer an instructive orientation to the readers that will help in building a more tolerable, peaceful, and a free and virtuous society.Keywords: Calvin, human good, religious piety, virtuous society
Procedia PDF Downloads 2709429 The Transnationalization of Anti-Corruption Compliance Programs in Latin America
Authors: Hitalo Silva
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The most famous corruption scandals in the past four years were taken in Latin America, especially in Brazil, but besides the stain that these countries suffered in an international field, there was a huge effort to create or modernize its national anti-corruption laws. Also, the countries are implementing new standards for investigations and corporate compliance programs, in order to combat corruption and prevent the money laundering. But here is the following question: is here an invisible uniformization/transnationalization of the anti-corruption systems in Latin America? This new scenario reflects the impacts of the corruption investigations conducted in Latin America countries, such as Car Wash Operation in Brazil, Pretelt Case in Colombia, Gasoducto Sur Peruano case and the Mr. Alex Kouri’s case both in Peru. Legal and institutional pro-transparency reforms were made recently, the companies are trying to implement new standards of conduct and investing in their compliance department. In this sense, there is a huge homogeneity in Latin America concerning the structuring of corporate compliance programs, a truly transnationalization not only of laws but also corporate standards among these countries. Although legislative initiatives vary among the countries, there is a tendency to impose rigid liability standards for the companies being investigated for corruption, not only the personal punishments of their executives, which demonstrate the power of authorities to strength the investigative tools. Also, instruments such as leniency agreements and plea bargain are essential to put a central role in enforcement activities in Latin America. In other words, in a region where six former Presidents were convicted for acts of corruption, and, companies such as Odebrecht that is accused of offering bribes to politicians from Argentina to México, passing through Ecuador, Colombia, Guatemala and Panama, this demonstrates the necessity to increase strength of their legal framework in a sense that unify transnational goals. All things considered, this paper will show how anti-corruption regulators are cooperating in Latin America jurisdictions in order to unify their laws and how the private sector is dealing with this new scenario of corporate culture change.Keywords: compliance, corruption, investigations, Latin America, transnational
Procedia PDF Downloads 1189428 Determinants of Corporate Social Responsibility Adoption: Evidence from China
Authors: Jing (Claire) LI
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More than two decades from 2000 to 2020 of economic reforms have brought China unprecedented economic growth. There is an urgent call of research towards corporate social responsibility (CSR) in the context of China because while China continues to develop into a global trading market, it suffers from various serious problems relating to CSR. This study analyses the factors affecting the adoption of CSR practices by Chinese listed companies. The author proposes a new framework of factors of CSR adoption. Following common organisational factors and external factors in the literature (including organisational support, company size, shareholder pressures, and government support), this study introduces two additional factors, dynamic capability and regional culture. A survey questionnaire was conducted on the CSR adoption of Chinese listed companies in Shen Zhen and Shang Hai index from December 2019 to March 2020. The survey was conducted to collect data on the factors that affect the adoption of CSR. After collection of data, this study performed factor analysis to reduce the number of measurement items to several main factors. This procedure is to confirm the proposed framework and ensure the significant factors. Through analysis, this study identifies four grouped factors as determinants of the CSR adoption. The first factor loading includes dynamic capability and organisational support. The study finds that they are positively related to the first factor, so the first factor mainly reflects the capabilities of companies, which is one component in internal factors. In the second factor, measurement items of stakeholder pressures mainly are from regulatory bodies, customer and supplier, employees and community, and shareholders. In sum, they are positively related to the second factor and they reflect stakeholder pressures, which is one component of external factors. The third factor reflects organisational characteristics. Variables include company size and cultural score. Among these variables, company size is negatively related to the third factor. The resulted factor loading of the third factor implies that organisational factor is an important determinant of CSR adoption. Cultural consistency, the variable in the fourth factor, is positively related to the factor. It represents the difference between perception of managers and actual culture of the organisations in terms of cultural dimensions, which is one component in internal factors. It implies that regional culture is an important factor of CSR adoption. Overall, the results are consistent with previous literature. This study is of significance from both theoretical and empirical perspectives. First, from the significance of theoretical perspective, this research combines stakeholder theory, dynamic capability view of a firm, and neo-institutional theory in CSR research. Based on association of these three theories, this study introduces two new factors (dynamic capability and regional culture) to have a better framework for CSR adoption. Second, this study contributes to empirical literature of CSR in the context of China. Extant Chinese companies lack recognition of the importance of CSR practices adoption. This study built a framework and may help companies to design resource allocation strategies and evaluate future CSR and management practices in an early stage.Keywords: China, corporate social responsibility, CSR adoption, dynamic capability, regional culture
Procedia PDF Downloads 1269427 A Study on Abnormal Behavior Detection in BYOD Environment
Authors: Dongwan Kang, Joohyung Oh, Chaetae Im
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Advancement of communication technologies and smart devices in the recent times is leading to changes into the integrated wired and wireless communication environments. Since early days, businesses had started introducing environments for mobile device application to their operations in order to improve productivity (efficiency) and the closed corporate environment gradually shifted to an open structure. Recently, individual user's interest in working environment using mobile devices has increased and a new corporate working environment under the concept of BYOD is drawing attention. BYOD (bring your own device) is a concept where individuals bring in and use their own devices in business activities. Through BYOD, businesses can anticipate improved productivity (efficiency) and also a reduction in the cost of purchasing devices. However, as a result of security threats caused by frequent loss and theft of personal devices and corporate data leaks due to low security, companies are reluctant about adopting BYOD system. In addition, without considerations to diverse devices and connection environments, there are limitations in detecting abnormal behaviors such as information leaks which use the existing network-based security equipment. This study suggests a method to detect abnormal behaviors according to individual behavioral patterns, rather than the existing signature-based malicious behavior detection and discusses applications of this method in BYOD environment.Keywords: BYOD, security, anomaly behavior detection, security equipment, communication technologies
Procedia PDF Downloads 3169426 Development and Validation of the Circular Economy Scale
Authors: Yu Fang Chen, Jeng Fung Hung
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This study aimed to develop a circular economy scale to assess the level of recognition among high-level executives in businesses regarding the circular economy. The circular economy is crucial for global ESG sustainable development and poses a challenge for corporate social responsibility. The aim of promoting the circular economy is to reduce resource consumption, move towards sustainable development, reduce environmental impact, maintain ecological balance, increase economic value, and promote employment. This study developed a 23-item Circular Economy Scale, which includes three subscales: "Understanding of Circular Economy by Enterprises" (8 items), "Attitudes" (9 items), and "Behaviors" (6 items). The Likert 5-point scale was used to measure responses, with higher scores indicating higher levels of agreement among senior executives with regard to the circular economy. The study tested 105 senior executives and used a structural equation model (SEM) as a measurement indicator to determine the extent to which potential variables were measured. The standard factor loading of the measurement indicator needs to be higher than 0.7, and the average variance explained (AVE) represents the index of convergent validity, which should be greater than 0.5 or at least 0.45 to be acceptable. Out of the 23 items, 12 did not meet the standard, so they were removed, leaving 5 items, 3 items, and 3 items for each of the three subscales, respectively, all with a factor loading greater than 0.7. The AVE for all three subscales was greater than 0.45, indicating good construct validity. The Cronbach's α reliability values for the three subscales were 0.887, 0.787, and 0.734, respectively, and the total scale was 0.860, all of which were higher than 0.7, indicating good reliability. The Circular Economy Scale developed in this study measures three conceptual components that align with the theoretical framework of the literature review and demonstrate good reliability and validity. It can serve as a measurement tool for evaluating the degree of acceptance of the circular economy among senior executives in enterprises. In the future, this scale can be used by senior executives in enterprises as an evaluation tool to further explore its impact on sustainable development and to promote circular economy and sustainable development based on the reference provided.Keywords: circular economy, corporate social responsibility, scale development, structural equation model
Procedia PDF Downloads 739425 Managing Type 1 Diabetes in College: A Thematic Analysis of Online Narratives Posted on YouTube
Authors: Ekaterina Malova
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Type 1 diabetes (T1D) is a chronic illness requiring immense lifestyle changes to reduce the chance of life-threatening complications. Moving to a college may be the first time for a young adult with T1D to take responsibility for all the aspects of their diabetes care. In addition, people with T1D constantly face stigmatization and discrimination as a result of their health condition, which puts additional pressure on young adults with T1D. Hence, omissions in diabetes self-care often occur during the time of transition to college when both the social and physical environment of young adults changes drastically and contribute to the fact that emerging young adults remain one of the age groups with the highest hemoglobin levels and poorest diabetes control. However, despite potential severe health risks caused by a lack of proper diabetes self-care, little is known about the experiences of emerging adults embarking on a higher education journey as this population. Thus, young adults with type 1 diabetes are a 'forgotten group,' meaning that their experiences are rarely addressed by researchers. Given that self-disclosure and information-seeking can be challenging for individuals with stigmatized illnesses, online platforms like YouTube have become a popular medium of self-disclosure and information-seeking for people living with T1D. Thus, this study aims to provide an analysis of experiences that college students with T1D choose to share with the general public online and explore the nature of information being communicated by college students with T1D to the online community in personal narratives posted on YouTube. A systematic approach was used to retrieve a video sample by searching YouTube with keywords 'type 1 diabetes' and 'college,' with results ordered by relevance. A total of 18 videos were saved. Video lengths ranged from 2 to 28 minutes. The data were coded using NVivo. Video transcripts were coded and analyzed utilizing the thematic analysis method. Three key themes emerged from thematic analysis: 1) Advice, 2) Personal experience, and 3) Things I wish everyone knew about T1D. In addition, Theme 1 was divided into subtopics to differentiate between the most common types of advice: 1) Overcoming stigma and b) Seeking social support. The identified themes indicate that two groups of the population can potentially benefit from watching students’ video testimonies: 1) lay public and 2) other students with T1D. Given that students in the videos reported a lack of T1D education in the lay public, such video narratives can serve important educational purposes and reduce health stigma, while perceived similarity and identification with students in the videos may facilitate the transition of health information to other individuals with T1D and positively affect their diabetes routine. Thus, online video narratives can potentially serve both educational and persuasive purposes, empowering students with T1D to stay in control of T1D while succeeding academically.Keywords: type 1 diabetes, college students, health communication, transition period
Procedia PDF Downloads 1439424 Institutional Cooperation to Foster Economic Development: Universities and Social Enterprises
Authors: Khrystyna Pavlyk
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In the OECD countries, percentage of adults with higher education degrees has increased by 10 % during 2000-2010. Continuously increasing demand for higher education gives universities a chance of becoming key players in socio-economic development of a territory (region or city) via knowledge creation, knowledge transfer, and knowledge spillovers. During previous decade, universities have tried to support spin-offs and start-ups, introduced courses on sustainability and corporate social responsibility. While much has been done, new trends are starting to emerge in search of better approaches. Recently a number of universities created centers that conduct research in a field social entrepreneurship, which in turn underpin educational programs run at these universities. The list includes but is not limited to the Centre for Social Economy at University of Liège, Institute for Social Innovation at ESADE, Skoll Centre for Social Entrepreneurship at Oxford, Centre for Social Entrepreneurship at Rosklide, Social Entrepreneurship Initiative at INSEAD. Existing literature already examined social entrepreneurship centers in terms of position in the institutional structure, initial and additional funding, teaching initiatives, research achievements, and outreach activities. At the same time, Universities can become social enterprises themselves. Previous research revealed that universities use both business and social entrepreneurship models. Universities which are mainly driven by a social mission are more likely to transform into social entrepreneurial institutions. At the same time, currently, there is no clear understanding of what social entrepreneurship in higher education is about and thus social entrepreneurship in higher education needs to be studied and promoted at the same time. Main roles which socially oriented university can play in city development include: buyer (implementation of socially focused local procurement programs creates partnerships focused on local sustainable growth.); seller (centers created by universities can sell socially oriented goods and services, e.g. in consultancy.); employer (Universities can employ socially vulnerable groups.); business incubator (which will help current student to start their social enterprises). In the paper, we will analyze these in more detail. We will also examine a number of indicators that can be used to assess the impact, both direct and indirect, that universities can have on city's economy. At the same time, originality of this paper mainly lies not in methodological approaches used, but in countries evaluated. Social entrepreneurship is still treated as a relatively new phenomenon in post-transitional countries where social services were provided only by the state for many decades. Paper will provide data and example’s both from developed countries (the US and EU), and those located in CIS and CEE region.Keywords: social enterprise, university, regional economic development, comparative study
Procedia PDF Downloads 2459423 Anti-Social Media: Implications of Social Media in the Form of Stressors on Our Daily Lives
Authors: Aimen Batool Bint-E-Rashid, Huma Irfan
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This research aims to investigate the role of social media (Snapchat, Facebook, Twitter, etc.) in our daily lives and its implication on our everyday routine in the form of stressors. The study has been validated by a social media survey with 150 social media users belonging to various age groups. The study explores how social media can make an individual anti-social in his or her life offline. To explain the phenomenon, we have proposed and evaluated a model based on social media usage and stressors including burnout and social overload. Results, through correlation and regression tests, have revealed that with increase in social media usage, social overload and burnout also increases. Evidence for the fact that excessive social media usage causes social overload and burnout has been provided in the study.Keywords: burnout, emotional exhaustion, fatigue, stressors, social networking, social media, social overload
Procedia PDF Downloads 1919422 Corporate Digital Responsibility in Construction Engineering-Construction 4.0: Ethical Guidelines for Digitization and Artificial Intelligence
Authors: Weber-Lewerenz Bianca
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Digitization is developing fast and has become a powerful tool for digital planning, construction, and operations. Its transformation bears high potentials for companies, is critical for success, and thus, requires responsible handling. This study provides an assessment of calls made in the sustainable development goals by the United Nations (SDGs), White Papers on AI by international institutions, EU-Commission and German Government requesting for the consideration and protection of values and fundamental rights, the careful demarcation between machine (artificial) and human intelligence and the careful use of such technologies. The study discusses digitization and the impacts of artificial intelligence (AI) in construction engineering from an ethical perspective by generating data via conducting case studies and interviewing experts as part of the qualitative method. This research evaluates critically opportunities and risks revolving around corporate digital responsibility (CDR) in the construction industry. To the author's knowledge, no study has set out to investigate how CDR in construction could be conceptualized, especially in relation to the digitization and AI, to mitigate digital transformation both in large, medium-sized, and small companies. No study addressed the key research question: Where can CDR be allocated, how shall its adequate ethical framework be designed to support digital innovations in order to make full use of the potentials of digitization and AI? Now is the right timing for constructive approaches and apply ethics-by-design in order to develop and implement a safe and efficient AI. This represents the first study in construction engineering applying a holistic, interdisciplinary, inclusive approach to provide guidelines for orientation, examine benefits of AI and define ethical principles as the key driver for success, resources-cost-time efficiency, and sustainability using digital technologies and AI in construction engineering to enhance digital transformation. Innovative corporate organizations starting new business models are more likely to succeed than those dominated by conservative, traditional attitudes.Keywords: construction engineering, digitization, digital transformation, artificial intelligence, ethics, corporate digital responsibility, digital innovation
Procedia PDF Downloads 2319421 Photovoice-Through Photographs to Feelings: Investigation of Experience Reporting in a Randomized Controlled Study
Authors: Selina Studer, Maria Kleinstäuber, Cornelia Weise
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Background: Finding words to report what you have been through may be challenging, especially when dealing with stressful or highly emotional experiences. Photovoice (PV) represents a possible way of facilitating experience reporting. In this approach, people take photos about a particular topic (in our study: worries about the future) and talk about the topic based on the photos. So far, the benefits of Photovoice have been quantitatively insufficiently tested. There is a lack of randomized controlled trials investigating PV in comparison to other methods. This study aimed to fill this research gap. Methods: 65 participants took part in the study and were randomly assigned to the PV group, the writing group (WG), or the control group (CG). The PV group received the task to take photos of worries regarding the future for one week and send max. 5 of them to the interviewer before the interview. The WG had to write down the worries about the future and send max. 5 of them to the interviewer before the interview. The control group did not receive a specific assignment. The semi-structured interview consisted of six open-ended questions and was applied to all future worries. The questions included the content of the future worries, the meaning, and how the worry expressed itself emotionally and physically. The interview was recorded and later transcribed. After the interview, online questionnaires were filled out. They covered a range of variables such as access to emotional content, ability to describe feelings, the extent of self-disclosure, and relationship quality. Results: Contrary to our hypotheses, one-way ANOVA revealed no differences between the three conditions concerning all variables (access to emotional content, ability to describe feelings, the extent of self-disclosure, and so on), all p's > 0.14, BF₀₁ = 1.78-7.66. In a subsequent step, the words in the transcribed interviews were analyzed. The LIWC program counted how many emotional words occurred in the text and assigned them to predefined categories. Planned contrasts revealed that the PV reported more negative emotional words compared to the two groups t(62) = 2.62, p = .011, and also compared to the WG only, t(62) = 2.36, p = .022, BF₀₁ = 0.62. Conclusions and implications: The applied self-report instruments did not reveal any differences between the groups. However, the PV group used more negative emotional words than the other two groups. The discrepancy between self-report and observation variables regarding emotionality is noticeable. It is suggested that the highly educated and above-average female sample may not have needed PV to access emotional content. It is possible that the approach would yield clearer results in a clinical sample. This and other approaches are currently being investigated in a follow-up study.Keywords: photovoice, controlled randomized study, online intervention, emotional awareness, self-disclosure, data triangulation, interviews
Procedia PDF Downloads 669420 Corporate Cash Holdings and the Effect of Chaebol Affiliated on the Implied Cost of Equity Capital: Evidence from Korea
Authors: Hongmin Chun
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This paper examines corporate cash holdings and their effect on the cost of equity capital. In addition, this study examines the potentially different effects when the firm belongs to chaebol and non-chaebol groups. Chaebol is a South Korean form of business conglomerate. Chaebol is typically global multinationals and owns numerous international enterprises, controlled by a chairman with power over all the operations. The overall empirical result suggests that higher cash holdings are a risk increasing factor which holds for the chaebol group of firms. This result is valid in a battery of robustness tests and 2SLS regressions. In Korea, higher cash holdings represent a risk premium factor that is closely related to the overinvestment and agency problems between managers and shareholders.Keywords: cash holdings, implied cost of equity capital, chaebol, agency problem
Procedia PDF Downloads 1659419 Measuring Corporate Brand Loyalties in Business Markets: A Case for Caution
Authors: Niklas Bondesson
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Purpose: This paper attempts to examine how different facets of attitudinal brand loyalty are determined by different brand image elements in business markets. Design/Methodology/Approach: Statistical analysis is employed to data from a web survey, covering 226 professional packaging buyers in eight countries. Findings: The results reveal that different brand loyalty facets have different antecedents. Affective brand loyalties (or loyalty 'feelings') are mainly driven by customer associations to service relationships, whereas customers’ loyalty intentions (to purchase and recommend a brand) are triggered by associations to the general reputation of the company. The findings also indicate that willingness to pay a price premium is a distinct form of loyalty, with unique determinants. Research implications: Theoretically, the paper suggests that corporate B2B brand loyalty needs to be conceptualised with more refinement than has been done in extant B2B branding work. Methodologically, the paper highlights that single-item approaches can be fruitful when measuring B2B brand loyalty, and that multi-item scales can conceal important nuances in terms of understanding why customers are loyal. Practical implications: The idea of a loyalty 'silver metric' is an attractive idea, but this study indicates that firms who rely too much on one single type of brand loyalty risk to miss important building blocks. Originality/Value/Contribution: The major contribution is a more multi-faceted conceptualisation, and measurement, of corporate B2B brand loyalty and its brand image determinants than extant work has provided.Keywords: brand equity, business-to-business branding, industrial marketing, buying behaviour
Procedia PDF Downloads 4059418 Development of Energy Benchmarks Using Mandatory Energy and Emissions Reporting Data: Ontario Post-Secondary Residences
Authors: C. Xavier Mendieta, J. J McArthur
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Governments are playing an increasingly active role in reducing carbon emissions, and a key strategy has been the introduction of mandatory energy disclosure policies. These policies have resulted in a significant amount of publicly available data, providing researchers with a unique opportunity to develop location-specific energy and carbon emission benchmarks from this data set, which can then be used to develop building archetypes and used to inform urban energy models. This study presents the development of such a benchmark using the public reporting data. The data from Ontario’s Ministry of Energy for Post-Secondary Educational Institutions are being used to develop a series of building archetype dynamic building loads and energy benchmarks to fill a gap in the currently available building database. This paper presents the development of a benchmark for college and university residences within ASHRAE climate zone 6 areas in Ontario using the mandatory disclosure energy and greenhouse gas emissions data. The methodology presented includes data cleaning, statistical analysis, and benchmark development, and lessons learned from this investigation are presented and discussed to inform the development of future energy benchmarks from this larger data set. The key findings from this initial benchmarking study are: (1) the importance of careful data screening and outlier identification to develop a valid dataset; (2) the key features used to develop a model of the data are building age, size, and occupancy schedules and these can be used to estimate energy consumption; and (3) policy changes affecting the primary energy generation significantly affected greenhouse gas emissions, and consideration of these factors was critical to evaluate the validity of the reported data.Keywords: building archetypes, data analysis, energy benchmarks, GHG emissions
Procedia PDF Downloads 2949417 Corporate Social Responsibility and Financial Performance Complementarity in Multinational Enterprises of the EU and India: A Socio-Political Approach
Authors: Moses Pinto, Ana Paula Monte
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The present research analyses the interactions between various categories of corporate social responsibility (CSR) that mediate the relationship between CSR and financial performance in Multinational Enterprises (MNE) in light of the present socio-political factors prevalent in the countries under observation. In the research it has been hypothesized that the absence of consensus in the empirical literature on the CSR–financial performance relationship may be explained by the existence of synergies (Complementarities) between the different CSR components. Upon investigation about whether such relationships exist, a final unbalanced panel sample of 1000 observations taken from 100 Multinational Enterprises per year functioning in the Schengen countries and one south east Asian country namely: India, over the span of 10 years i.e. from the year 2008 to 2018 has been analyzed. The empirical analysis used in the research methodology employs dynamic Panel Data in time series specifically, the system Generalized Method of Moments (GMM) which had been used to detect the varying degrees of relationships between the CSR and financial performance parameters in the background of the socio-political factors prevailing in the countries at the time and also taking into account the bilateral treaty obligations between the countries under observation. The econometric model has employed the financial ratio namely the Return on Assets (ROA) as an indicator of financial performance in order to gauge the internal performance and valuation of a firm as opposed to the Tobin’s Q that provides for the external evaluation of a firm’s financial performance which may not always be accurate. The various CSR dimensions have demonstrated significant correlations to the ‘ROA’ which include some negatively associated correlations and one positively associated correlation that is highly significant throughout the analysis of the observations, namely the correlation between the ‘ROA’ and the CSR dimension: ‘Environment’. The results provide a deeper insight in the synergistic CSR activities that managers could adapt into their Firm’s CSR strategy in order to enhance the ‘ROA’ and also to understand which interactions between the CSR dimensions can be adapted together due to their positively correlated association with each other and the ROA. The future lines of research would be inclined to investigate the effects of socio-political factors on the ROA of the MNEs through better designed econometric models.Keywords: CSR, financial performance, complementarity, sociopolitical factors
Procedia PDF Downloads 1139416 Sustainable Mining Fulfilling Constitutional Responsibilities: A Case Study of NMDC Limited Bacheli in India
Authors: Bagam Venkateswarlu
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NMDC Limited, Indian multinational mining company operates under administrative control of Ministry of Steel, Government of India. This study is undertaken to evaluate how sustainable mining practiced by the company fulfils the provisions of Indian Constitution to secure to its citizen – justice, equality of status and opportunity, promoting social, economic, political, and religious wellbeing. The Constitution of India lays down a road map as to how the goal of being a “Welfare State” shall be achieved. The vision of sustainable mining being practiced is oriented along the constitutional responsibilities on Indian Citizens and the Corporate World. This qualitative study shall be backed by quantitative studies of National Mineral Development Corporation performances in various domains of sustainable mining and ESG, that is, environment, social and governance parameters. For example, Five Star Rating of mine is a comprehensive evaluation system introduced by Ministry of Mines, Govt. of India is one of the methodologies. Corporate Social Responsibilities is one of the thrust areas for securing social well-being. Green energy initiatives in and around the mines has given the title of “Eco-Friendly Miner” to NMDC Limited. While operating fully mechanized large scale iron ore mine (18.8 million tonne per annum capacity) in Bacheli, Chhattisgarh, M/s NMDC Limited caters to the needs of mineral security of State of Chhattisgarh and Indian Union. It preserves forest, wild-life, and environment heritage of richly endowed State of Chhattisgarh. In the remote and far-flung interiors of Chhattisgarh, NMDC empowers the local population by providing world class educational & medical facilities, transportation network, drinking water facilities, irrigational agricultural supports, employment opportunities, establishing religious harmony. All this ultimately results in empowered, educated, and improved awareness in population. Thus, the basic tenets of constitution of India- secularism, democracy, welfare for all, socialism, humanism, decentralization, liberalism, mixed economy, and non-violence is fulfilled. Constitution declares India as a welfare state – for the people, of the people and by the people. The sustainable mining practices by NMDC are in line with the objective. Thus, the purpose of study is fully met with. The potential benefit of the study includes replicating this model in existing or new establishments in various parts of country – especially in the under-privileged interiors and far-flung areas which are yet to see the lights of development.Keywords: ESG values, Indian constitution, NMDC limited, sustainable mining, CSR, green energy
Procedia PDF Downloads 679415 Effect of Long Term Orientation and Indulgence on Earnings Management: The Moderating Role of Legal Tradition
Authors: I. Martinez-Conesa, E. Garcia-Meca, M. Barradas-Quiroz
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The objective of this study is to assess the impact on earnings management of latest two Hofstede cultural dimensions: long-term orientation and indulgence. Long-term orientation represents the alignment of a society towards the future and indulgence expresses the extent to which a society exhibits willingness, or restrain, to realise their impulses. Additionally, this paper tests if there are relevant differences by testing the moderating role of the legal tradition, Continental versus Anglo-Saxon. Our sample comprises 15 countries: Belgium, Canada, Germany, Spain, France, Great Britain, Hong Kong, India, Japan, Korea, Netherlands, Philippines, Portugal, Sweden, and Thailand, with a total of 12,936 observations from 2003 to 2013. Our results show that managers in countries with high levels of long-term orientation reduce their levels of discretionary accruals. The findings do not confirm the effect of indulgence on earnings management. In addition, our results confirm previous literature regarding the effect of individualism, noting that firms in countries with high levels of collectivism might be more inclined to use earnings discretion to protect the welfare of the collective group of firm stakeholders. Uncertainty avoidance results in downwards earnings management as well as high disclosure, suggesting that less manipulation takes place when transparency is higher. Indulgence is the cultural dimension that confronts wellbeing versus survival; dimension is formulated including happiness, the perception of live control and the importance of leisure. Indulgence shows a weak negative correlation with power distance indicating a slight tendency for more hierarchical societies to be less indulgent. Anglo-Saxon countries are a positive effect of individualism and a negative effect of masculinity, uncertainty avoidance, and disclosure. With respect to continental countries, we can see a significant and positive effect of individualism and a significant and negative effect of masculinity, long-term orientation, and indulgence. Therefore, we observe the negative effect on earnings management provoked by higher disclosure and uncertainty avoidance only happens in Anglo-Saxon countries. Meanwhile, the improvement in reporting quality motivated by higher long-term orientation and higher indulgence is dominant in Continental countries. Our results confirm that there is a moderating effect of the legal system in the association between culture and earnings management. This effect is especially relevant in the dimensions related to uncertainty avoidance, long term orientation, indulgence, and disclosure. The negative effect of long-term orientation on earnings management only happens in those countries set in continental legal systems because of the Anglo-Saxon legal systems is supported by the decisions of the courts and the traditions, so it already has long-term orientation. That does not occur in continental systems, depending mainly of contend of the law. Sensitivity analysis used with Jones modified CP model, Jones Standard model and Jones Standard CP model confirm the robustness of these results. This paper collaborates towards a better understanding on how earnings management, culture and legal systems relate to each other, and contribute to previous literature by examining the influence of the two latest Hofstede’s dimensions not previously studied in papers.Keywords: Hofstede, long-term-orientation, earnings management, indulgence
Procedia PDF Downloads 2259414 Financial Capacity, Governance, and Corporate Engagement in Environmental Protection
Authors: Lubica Hikkerova, Jean-Michel Sahut
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Environmental protection remains a global challenge but, since 2012, there has been a progressive decline in corporate engagement in environmental protection issues. This study seeks to investigate the role of financial capacity and governance in improving the level of environmental engagement of companies. The regression technique is applied to data on 351 large European companies from the ASSET4-ESG database for the 2007-2015 period. Firstly, the results show that the companies in the sample are fairly engaged in environmental protection, with a strong dispersion representing nearly four times the average. This means that the companies in the sample do not share the same level of engagement in matters of environmental protection, some being more committed than others. Secondly, the results reveal that the financial capacity of the company, as assessed through its indicators, has a significant effect on its level of environmental protection engagement in the present sample. This effect is more positive the higher the profits the company makes, and more negative the more heavily indebted or, the higher the rates of dividends it pays per share. Lastly, the results also show that a better quality of governance plays an important role in the decision to undertake actions leading to environmental protection. More specifically, the degree of management implication in the running of the business, the respect of the rights of the shareholders, the effectiveness of the control exerted by the board of directors, and, to a lesser extent, the independence of the audit committee, are variables which have a positive and significant influence on the level of environmental engagement of companies.Keywords: financial capacity, corporate governance, environmental engagement, stakeholder theory, theory of organizational legitimacy, theory of resources and capabilities
Procedia PDF Downloads 1809413 The Teacher’s Role in Generating and Maintaining the Motivation of Adult Learners of English: A Mixed Methods Study in Hungarian Corporate Contexts
Authors: Csaba Kalman
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In spite of the existence of numerous second language (L2) motivation theories, the teacher’s role in motivating learners has remained an under-researched niche to this day. If we narrow down our focus on the teacher’s role on motivating adult learners of English in an English as a Foreign Language (EFL) context in corporate environments, empirical research is practically non-existent. This study fills the above research niche by exploring the most motivating aspects of the teacher’s personality, behaviour, and teaching practices that affect adult learners’ L2 motivation in corporate contexts in Hungary. The study was conducted in a wide range of industries in 18 organisations that employ over 250 people in Hungary. In order to triangulate the research, 21 human resources managers, 18 language teachers, and 466 adult learners of English were involved in the investigation by participating in interview studies, and quantitative questionnaire studies that measured ten scales related to the teacher’s role, as well as two criterion measure scales of intrinsic and extrinsic motivation. The qualitative data were analysed using a template organising style, while descriptive, inferential statistics, as well as multivariate statistical techniques, such as correlation and regression analyses, were used for analysing the quantitative data. The results showed that certain aspects of the teacher’s personality (thoroughness, enthusiasm, credibility, and flexibility), as well as preparedness, incorporating English for Specific Purposes (ESP) in the syllabus, and focusing on the present, proved to be the most salient aspects of the teacher’s motivating influence. The regression analyses conducted with the criterion measure scales revealed that 22% of the variance in learners’ intrinsic motivation could be explained by the teacher’s preparedness and appearance, and 23% of the variance in learners’ extrinsic motivation could be attributed to the teacher’s personal branding and incorporating ESP in the syllabus. The findings confirm the pivotal role teachers play in motivating L2 learners independent of the context they teach in; and, at the same time, call for further research so that we can better conceptualise the motivating influence of L2 teachers.Keywords: adult learners, corporate contexts, motivation, teacher’s role
Procedia PDF Downloads 939412 The Relationships between Human Resource Management and Entrepreneurship: Case Study SME in Thailand
Authors: Bella Llego
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This study aims to investigate the relationships between human resource management and entrepreneurship in the view of owner-managers and employees, and among employees with in the SME in Thailand. The research method used a qualitative method to confirm the phenomenology interest with top management position which women are regarding their career path by using purposive sampling method. The results showed that human resources management has positive relate with the corporate entrepreneurship are including the recruitment process, training worker, professional career development and reward system impact to entrepreneur’s knowledge and innovation of corporate entrepreneurship in respectively to bring a very reliable way. Then, the key informant suggested that women’s career experiences predisposed them to find an alternative route for entrepreneurship, despite having achieved top management. The understanding factors that successfully contribute to the development of women entrepreneurs from career development perspective are critical endeavours for any type of organization as well.Keywords: entrepreneurship, firm performance, human resource management, work efficiency
Procedia PDF Downloads 2629411 Mining in Peru and Local Governance: Assessing the Contribution of CRS Projects
Authors: Sandra Carrillo Hoyos
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Mining activities in South America have significantly grown during the last decades, given the abundance of natural resources, the implemented governmental policies to incentivize foreign investment as well as the boom in international prices for metals and oil between 2002 and 2008. While this context allowed the region to occupy a leading position between the top producers of minerals around the world, it has also meant an increase in socio-environmental conflicts which have generated costs and negative impacts not only for the companies but especially for the governments and local communities.During the latest decade, the mining sector in Peru has faced with the social resistance of a large number of communities, which began organizing actions against the implementation of high investing projects. The dissatisfaction has derived in the prevalence of socio-environmental conflicts associated with mining activities, some of them never solved into an agreement. In order to prevent those socio-environmental conflicts and obtain the social license from local communities, most of the mining companies have developed diverse initiatives within the framework of policies and practices of corporate social responsibility (CSR). This paper has assessed the mining sector’s contribution toward the local development management along the last decade, as part of CSR strategies as well as the policies promoted by the Peruvian State. This assessment found that, in the beginning, these initiatives have been based on a philanthropic approach and were reacting to pressures from local stakeholders to maintain the consent to operate from the surrounding communities as well as to create, as a result, a harmonious atmosphere for operations. Due to the weak State presence, such practices have increased the expectations of communities related to the participation of mining companies in solving structural development problems, especially those related to primary needs, infrastructure, education, health, among others. In other words, this paper was focused on analyze in what extent these initiatives have promoted local empowerment for development planning and integrated management of natural resources from a territorial approach. From this perspective, the analysis demonstrates that, while the design and planning of social investment initiatives have improved due to the sector´s sustainability approach, many companies have developed actions beyond their competence during this process. In some cases, the referenced actions have generated dependency with communities, even though this relationship has not exempted the companies of conflict situations with unfortunate consequences. Furthermore, the social programs developed have not necessarily generated a significant impact in improving the quality of life of affected populations. In fact, it is possible to identify that those regions with high mining resources and investment are facing with a situation of poverty and high dependency on mining production. In spite of the revenues derived from mining industry, local governments have not been able to translate the royalties into sustainable development opportunities. For this reason, the proposed paper suggests some challenges for the mining sector contribution to local development based on the best practices and lessons learnt from a benchmarking for the leading mining companies.Keywords: corporate social responsibility, local development, mining, socio-environmental conflict
Procedia PDF Downloads 3929410 Comparative Evaluation of Equity Indicators in the Matikiw Community-Based Forest Management Project in Pakil, Laguna and the Minayutan and Bacong Sigsigan Community-Based Forest Management Project in Famy, Laguna
Authors: Katherine Arquio
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Community-based Forest Management (CBFM) is one of the integrative programs that slowly turned the course of forest management from traditional corporate to community-based practice resulting to people empowerment. As such, one of its goals is to promote socio-economic welfare among the people in the community in which social equity is included. This study aims to look at the equity aspect of the program, particularly if there are equity differences between two CBFM sites- Matikiw in Pakil, Laguna and Minayutan and Bacong Sigsigan in Famy, Laguna. Equity indicators were identified first, since these will be the basis of the questions that will be asked on the survey, after this, the survey proper was conducted, and finally, the analysis. Two tailed t-test was used as statistical tool since the difference between the two sites is the focus of the study. Statistical analysis was done through the use of STATA program, a statistical software. There were 32 indicators identified and results showed that, out of these indicators, only 13 were found significantly different between the two. The 13 indicators were significantly observed only in Matikiw; the other 19 indicators were commonly observed in both areas and are conducive as equity indicators for the CBFM program.Keywords: social equity, CBFM, social forestry, equity indicators
Procedia PDF Downloads 3659409 Leadership Styles and Adoption of Risk Governance in Insurance and Energy Industry: A Comparative Case Study
Authors: Ruchi Agarwal
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In today’s world, companies are operating in dynamic, uncertain and ambiguous business environments. Globally, more companies are failing due to Environmental, Social and Governance (ESG) factors than ever. Corporate governance and risk management are intertwined in nature. For decades, corporate governance and risk management have been influenced by internal and external factors. Three schools of thought have influenced risk governance for decades: Agency theory, Contingency theory, and Institutional theory. Agency theory argues that agents have interests conflicting with principal interests and the information problem. Contingency theory suggests that risk management adoption is influenced by internal and external factors, while Institutional theory suggests that organizations legitimize risk management with regulators, competitors, and professional bodies. The conflicting objectives of theories have created problems for executives in organizations in the adoption of Risk Governance. So far, there are many studies that discussed risk culture and the role of actors in risk governance, but there are rare studies discussing the role of risk culture in the adoption of risk governance from a leadership style perspective. This study explores the adoption of risk governance in two contrasting industries, such as the Insurance and energy business, to understand whether risk governance is influenced by internal/external factors or whether risk culture is influenced by leaders. We draw empirical evidence by comparing the cases of an Indian insurance company and a renewable energy-based firm in India. We interviewed more than 20 senior executives of companies and collected annual reports, risk management policies, and more than 10 PPTs and other reports from 2017 to 2024. We visited the company for follow-up questions several times. The findings of my research revealed that both companies have used risk governance for strategic renewal of the company. Insurance companies use a transactional leadership style based on performance and reward for improving risk, while energy companies use rather symbolic management to make debt restructuring meaningful for stakeholders. Overall, both companies turned from loss-making to profitable ones in a few years. This comparative study highlights the role of different leadership styles in the adoption of risk governance. The study is also distinct as previous research rarely studied risk governance in two contrasting industries in reference to leadership styles.Keywords: leadership style, corporate governance, risk management, risk culture, strategic renewal
Procedia PDF Downloads 369408 Corporate Governance and Audit Report Lag: The Case of Tunisian Listed Companies
Authors: Lajmi Azhaar, Yab Mdallelah
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This study examines the Tunisian market in which recent events, notably financial scandals, provide an appropriate framework for studying the impact of corporate governance on the audit report lag. Moreover, very little research has been done to examine this relationship in this context. The objective of this work is, therefore, to understand the factors influencing audit report lag, drawing primarily on agency theory (Jensen and Meckling, 1976), which shows that the characteristics of the board of directors have an impact on the report lag (independence, diligence, and size). In addition, the characteristics of the committee also have an impact on the audit report lag (size, independence, diligence, and expertise). Therefore, our research provides empirical evidence on the impact of governance mechanisms attributes on audit report lag. Using a sample of forty-seven (47) Tunisian companies listed on the Tunis Stock Exchange (BVMT) during the period from 2014 to 2019, and basing on the GMM method of the dynamic panel, multivariate analysis shows that most corporate governance attributes have a significant effect on audit report lag. Specifically, the audit committee diligence and the audit committee expertise have a significant and positive effect on audit report lag. But the diligence of the board has a significant and negative effect on audit report lag. However, this study finds no evidence that the audit committee independence, the size, independence, and diligence of the director’s board are associated with the audit report lag. In addition, the results of this study also show that there is a significant effect of some control variables. Finally, we are contributing to this study by using the GMM method of the dynamic panel. We are also using an emerging context that is very poorly developed and exploited by previous studies.Keywords: governance mechanisms, audit committee, board of directors, audit report lag
Procedia PDF Downloads 1599407 Board Gender Diversity and Firm Sustainable Investment: An Empirical Evidence
Authors: Muhammad Atif, M. Samsul Alam
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The purpose of this study is to investigate the effects of board room gender diversity on firm sustainable investment. We test the extent to which sustainable investment is affected by the presence of female directors on U.S. corporate boards. Using data of S&P 1500 indexed firms collected from Bloomberg covering the period 2004-2016, we estimate the baseline model to investigate the effects of board room gender diversity on firm sustainable investment. We find a positive relationship between board gender diversity and sustainable investment. We also find that boards with two or more women have a pronounced impact on sustainable investment, consistent with the critical mass theory. Female independent directors have a stronger impact on sustainable investment than female executive directors. Our findings are robust to different identification and estimation techniques. The study offers another perspective of the ongoing debate in the social responsibility literature about the accountability relationships between business and society.Keywords: sustainable investment, gender diversity, environmental proctection, social responsibility
Procedia PDF Downloads 1489406 The Promotion of a Risk Culture: a Descriptive Study of Ghanaian Banks
Authors: Gerhard Grebe, Johan Marx
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The aim of the study is to assess the state of operational risk management and the adoption of an appropriate risk culture in Ghanaian banks. The Bank of Ghana (BoG) joined the Basel Consultative Group (BCG) of the Basel Committee on Bank Supervision (BCBS) in 2021 and is proceeding with the implementation of the Basel III international regulatory framework for banks. The BoG’s Directive about risk management encourages, inter alia, the creation of an appropriate risk culture by Ghanaian banks. However, it is not evident how the risk management staff of Ghanaian banks experience the risk culture and the implementation of operational risk management in the banks where they are employed. Ghana is a developing economy, and it is addressing challenges with its organisational culture. According to Transparency International, successive Ghanaian governments claim to be fighting corruption, but little success has been achieved so far. This points to a possible lack of accountability, transparency, and integrity in the environment in which Ghanaian banks operate and which could influence their risk culture negatively. Purposive sampling was used for the survey, and the questionnaire was completed byGhanaian bank personnel who specializesin operational risk management, risk governance, and compliance, bank supervision, risk analyses, as well as the implementation of the operational risk management requirements of the Basel regulatory frameworks. The respondents indicated that they are fostering a risk culture and implementing monitoring and reporting procedures; the three lines of defence (3LOD); compliance; internal auditing; disclosure of operational risk information; and receiving guidance from the bank supervisor in an attempt to improve their operational risk management practices. However, the respondents reported the following challenges with staff members who are not inside the risk management departments(in order of priority), namelydemonstrating a risk culture, training and development; communication; reporting and disclosure; roles and responsibilities; performance appraisal; and technological and environmental barriers. Recommendations to address these challenges are providedKeywords: ghana, operational risk, risk culture, risk management
Procedia PDF Downloads 1119405 Exploring Legal Liabilities of Mining Companies for Human Rights Abuses: Case Study of Mongolian Mine
Authors: Azzaya Enkhjargal
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Context: The mining industry has a long history of human rights abuses, including forced labor, environmental pollution, and displacement of communities. In recent years, there has been growing international pressure to hold mining companies accountable for these abuses. Research Aim: This study explores the legal liabilities of mining companies for human rights abuses. The study specifically examines the case of Erdenet Mining Corporation (EMC), a large mining company in Mongolia that has been accused of human rights abuses. Methodology: The study used a mixed-methods approach, which included a review of legal literature, interviews with community members and NGOs, and a case study of EMC. Findings: The study found that mining companies can be held liable for human rights abuses under a variety of regulatory frameworks, including soft law and self-regulatory instruments in the mining industry, international law, national law, and corporate law. The study also found that there are a number of challenges to holding mining companies accountable for human rights abuses, including the lack of effective enforcement mechanisms and the difficulty of proving causation. Theoretical Importance: The study contributes to the growing body of literature on the legal liabilities of mining companies for human rights abuses. The study also provides insights into the challenges of holding mining companies accountable for human rights abuses. Data Collection: The data for the study was collected through a variety of methods, including a review of legal literature, interviews with community members and NGOs, and a case study of EMC. Analysis Procedures: The data was analyzed using a variety of methods, including content analysis, thematic analysis, and case study analysis. Conclusion: The study concludes that mining companies can be held liable for human rights abuses under a variety of legal and regulatory frameworks. There are positive developments in ensuring greater accountability and protection of affected communities and the environment in countries with a strong economy. Regrettably, access to avenues of redress is reasonably low in less developed countries, where the governments have not implemented a robust mechanism to enforce liability requirements in the mining industry. The study recommends that governments and mining companies take more ambitious steps to enhance corporate accountability.Keywords: human rights, human rights abuses, ESG, litigation, Erdenet Mining Corporation, corporate social responsibility, soft law, self-regulation, mining industry, parent company liability, sustainability, environment, UN
Procedia PDF Downloads 739404 Development of Risk Index and Corporate Governance Index: An Application on Indian PSUs
Authors: M. V. Shivaani, P. K. Jain, Surendra S. Yadav
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Public Sector Undertakings (PSUs), being government-owned organizations have commitments for the economic and social wellbeing of the society; this commitment needs to be reflected in their risk-taking, decision-making and governance structures. Therefore, the primary objective of the study is to suggest measures that may lead to improvement in performance of PSUs. To achieve this objective two normative frameworks (one relating to risk levels and other relating to governance structure) are being put forth. The risk index is based on nine risks, such as, solvency risk, liquidity risk, accounting risk, etc. and each of the risks have been scored on a scale of 1 to 5. The governance index is based on eleven variables, such as, board independence, diversity, risk management committee, etc. Each of them are scored on a scale of 1 to five. The sample consists of 39 PSUs that featured in Nifty 500 index and, the study covers a 10 year period from April 1, 2005 to March, 31, 2015. Return on assets (ROA) and return on equity (ROE) have been used as proxies of firm performance. The control variables used in the model include, age of firm, growth rate of firm and size of firm. A dummy variable has also been used to factor in the effects of recession. Given the panel nature of data and possibility of endogeneity, dynamic panel data- generalized method of moments (Diff-GMM) regression has been used. It is worth noting that the corporate governance index is positively related to both ROA and ROE, indicating that with the improvement in governance structure, PSUs tend to perform better. Considering the components of CGI, it may be suggested that (i). PSUs ensure adequate representation of women on Board, (ii). appoint a Chief Risk Officer, and (iii). constitute a risk management committee. The results also indicate that there is a negative association between risk index and returns. These results not only validate the framework used to develop the risk index but also provide a yardstick to PSUs benchmark their risk-taking if they want to maximize their ROA and ROE. While constructing the CGI, certain non-compliances were observed, even in terms of mandatory requirements, such as, proportion of independent directors. Such infringements call for stringent penal provisions and better monitoring of PSUs. Further, if the Securities and Exchange Board of India (SEBI) and Ministry of Corporate Affairs (MCA) bring about such reforms in the PSUs and make mandatory the adherence to the normative frameworks put forth in the study, PSUs may have more effective and efficient decision-making, lower risks and hassle free management; all these ultimately leading to better ROA and ROE.Keywords: PSU, risk governance, diff-GMM, firm performance, the risk index
Procedia PDF Downloads 1519403 Orientation towards Social Entrepreneurship-Prioritary: Givens for Overcoming Social Inequality
Authors: Revaz Gvelesiani
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Nowadays, social inequality increasingly strengthens the trend from business entrepreneurship to social entrepreneurship. It can be said that business entrepreneurs, according to their interests, move towards social entrepreneurship. Effectively operating markets create mechanisms, which lead to 'good' behavior. This is the most important feature of the rationally functioning society. As for the prospects of social entrepreneurship, expansion of entrepreneurship concept at the social arena may lead to such an outcome, when people who are skeptical about business, become more open towards entrepreneurship as a type of activity. This is the way which by means of increased participation in entrepreneurship promotes fair distribution of wealth. Today 'entrepreneurship for all' is still a dream, although the one, which may come true.Keywords: social entrepreneurship, business entrepreneurship, functions of entrepreneurship, social inequality, social interests, interest groups, interest conflicts
Procedia PDF Downloads 354