Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 8966

Search results for: corporate cultural values

8966 A Comparative Study of Corporate Cultural Values in Mergers and Acquisitions

Authors: Renzhong Peng, Weiping Wu

Abstract:

Based on the framework of Hofstede’s cultural dimension, this study conducted a comparative study on the similarities and differences between national cultures and corporate cultural values, analyzed and interpreted the reasons why Chinese overseas Mergers and Acquisitions (M&A) cultural integration results in the success or failure. The findings of this study indicate that in the process of M&A, the corporate cultural values from Chinese and western corporations are proved to be quite different as a result of their diversities of national cultures, and the strategies for the integration of cultural corporate values are of vital importance and can determine the effects of the M&A, which can be referential to managers who intend to have the idea of M&A and those who have cultural integration in the process of M&A.

Keywords: comparative study, cultural integration, corporate cultural values, Mergers and Acquisitions

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8965 Enhancing Visual Corporate Identity on Festive Money Packets Design with Cultural Symbolisms

Authors: Noranis Ismail, Shamsul H. A. Rahman

Abstract:

The objective of this research is to accentuate the importance of Visual Corporate Identity by utilizing Malay motifs amalgamated with Malay proverbs to enhance the corporate brand of The Design School (TDS) of Taylor’s University. The researchers aim to manipulate festive money packet as a mean to communicate to the audience by using non-verbal visual cues such as colour, languages, and symbols that reflect styles and cultural heritage. The paper concluded that it is possible to utilize Hari Raya packet as a medium for creative expressions by creating high-impact design through the symbolism of selected Malay proverbs and traditional Malay motifs to enhance TDS corporate visual identity. It also provides a vital contribution to other organizations to understand an integral part of corporate visual identity in heightening corporate brand by communicating indirectly to its stakeholders using visual mnemonic and cultural heritage.

Keywords: corporate branding, cultural cues, Malay culture, visual identity

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8964 Values That Should Be Taken into Account in the Arts: The Tension between Economic Influences and Cultural Values

Authors: Mohammad Mehdi Mazaheri, Mohammad Motiee Lahromi

Abstract:

Recently the two matters of how to evaluate art and what the influencing economic effects on cultural values are have attracted many researchers to investigate them. Therefore, in the present article the researcher made an attempt to answer the above questions. However, the fundamental distinction between this article and the other ones is in comparing the economic value (shown by monetary phrases) with cultural values (that reflects the aesthetic values and the importance of the artist). This article shows a different and trivial distinction that has a very clearly pivotal significance in the process of cultural policy making. The economic activities would be influenced when there are cultural values. The increase of commercial activities is measured by impact assessment. In other words, the value of culture is reflected in the satisfaction of the users of cultural activities. This kind of value is measured by “willingness to pay” researches. The researcher believes that these two values are dominant in the cultural policy but they include many aspects and are presented by different kinds of communities.

Keywords: economic influence, cultural values, monetary phrases, aesthetic values

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8963 Zakat and Corporate Social Responsibility Disclosure Analysis in Increasing Its Value

Authors: Afrizon Reskino

Abstract:

The Article explores how the role of Zakat and Corporate Social Responsibility (CSR) can enhance corporate values. This research is a descriptive study which aimed to find out how the impact of Zakat and CSR disclosure towards corporate values. Sample taken in this research is the company has entered into the Jakarta Islamic Index, and it estimated to have implemented CSR and also made statements of sources and uses of Zakat taking PT. INCO, PT. Inducement and PT. Semen Gresik. The reasons for selecting of three companies are known from the data and facts every year they always provide significant CSR funds. CSR and charity both have a role and responsibility for the welfare of the peoples. This study found that in 2008, debt-to-equity ratio of PT. INCO approximately 15%. In 2009, It increased to 23%. While Debt-to-equity ratio of PT Semen Gresik increase of 3% to 4%. PT Inducement is weaken from 10% to 7%, but the average debt-to-equity ratio of the three companies has increased.

Keywords: zakat, charity, corporate social responsibility, corporate values

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8962 Corporate Philanthropy as a Source of Competitive Advantage

Authors: Mateusz Rak

Abstract:

Objective: The paper aims to present various sources of competitive advantage which may occur when an enterprise strategically applies its concept of corporate philanthropy. Methodology: The review of the literature and available reports on the research regarding corporate philanthropy. Results: Strategic philanthropy is a positive phenomenon. Unfortunately, enterprises in Poland do not see all positive sides of such activities yet. Three kinds of corporate philanthropy may be described. They are to fulfil a social duty, improve the company reputation and gain a competitive edge. Practical implications: Showing enterprises the advantages of taking philanthropic actions, in particular, a large role of strategic philanthropy in gaining a competitive edge in the market as well as how to avoid negative consequences of corporate philanthropy. The paper presents corporate philanthropy on a few layers: as a CSR element, actions generating values in products, actions improving a corporate image in the market, altruist actions of employees.

Keywords: corporate philanthropy, corporate social responsibility, corporate foundations, CSR

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8961 A Value-Based Approach to Recognize Authentic Transformational Leaders' Delivering Process of Corporate Social Responsibility Values

Authors: Yi-Jung Chen, Yunshi Liu

Abstract:

To explain how followers can perceive whether or not transformational leaders are authentic on the basis of their leadership behaviors based on value-based leadership theory, this study adopts the dual-focus model of transformational leadership and evaluates leaders’ corporate social responsibility values along with followers’ perceptions of leaders’ values. Using dyadic questionnaires, the final study sample consisted of 252 followers and 43 leaders at a private firm in Taiwan. Results show that followers perceive corporate social responsibility values of transformational leaders through their group-focused leadership behaviors because such group-focused leadership is in line with these values.

Keywords: authentic transformational leadership, corporate social responsibility value, value-based leadership theory, dual-focus leadership

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8960 A Behaviourally Plausible Decision Centred Perspective on the Role of Corporate Governance in Corporate Failures

Authors: Navdeep Kaur

Abstract:

The primary focus of this study is to answer “What is the role of corporate governance in corporate failures? Does poor corporate governance lead to corporate failures? If so, how?”. In doing so, the study examines the literature from multiple fields, including corporate governance, corporate failures and organizational decision making, and presents a research gap to analyze and explore the relationship between corporate governance practices and corporate failures through a behavioral lens. In approaching this, a qualitative research methodology is adopted to analyze the failure of Enron Corporation (United States). The research considered the case study organizations as the primary unit of analysis and the decision-makers as the secondary unit of analysis. Based on this research approach, the study reports the analytical results drawn from extensive and triangulated secondary data. The study then interprets the results in the context of the theoretical synthesis. The study contributes towards filling a gap in the research and presents a behaviourally plausible decision centered model of the role of corporate governance in corporate failures. The model highlights the critical role of the behavioral aspects of corporate governance decision making in corporate failures and focuses attention on the under-explored aspects of corporate governance decision making. The study also suggests a further understanding of ‘A Behavioral Theory of the Firm’ in relation to corporate failures.

Keywords: behavior, corporate failure, corporate governance, decision making, values

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8959 Are Values Reflected in Online Skincare Advertisements from the Philippines and Taiwan the Same?

Authors: Chih-Ping Chen

Abstract:

In recent years, some scholars established the reflection of cultural values in advertisements. However, despite the Internet’s rapid development, few studies have focused on observing cross-cultural differences of values reflected in online advertisements. As mirrors of culture, advertisements are believed to reflect values relevant to consumers. Therefore, this research aims to examine the cultural values reflected on online skincare advertisements between countries with different cultural influences. We argue that culture affects the values presented in the slogans, endorsers, brand prominence, and product prominence of online advertisements; a concept that challenges the standardized manner of communication utilized by most multinational brands. Results highlight that the Philippines and Taiwan are neither located on extreme low-context nor extreme high-context cultures. Moreover, although advertisements reflect culture, it may be affected by potential value shifting caused by globalization, standardized communication, and the advertisers’ marketing priorities.

Keywords: cross-culture, cultural values, online advertising, prominence, beauty

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8958 Corporate Social Responsibility vs Corporate Social Reactivity: An Exploration of Corporate Social Responsibility Planning in a Multinational Oil and Gas in Indonesia

Authors: Endang Ghani Ashfiya

Abstract:

This study explores corporate social responsibility (CSR) planning in a downstream business of multinational oil and gas company in Indonesia from managerial perspectives. The institutional logic is employed in this research to gain a comprehensive understanding of the way the MNC manages the socio-cultural aspects in the host countries, especially in the process of translation and adaptation of the company’s CSR global guidelines. The interviews are conducted with fifteen managers in that company, both at the top managerial level and operational level. In the beginning, this research explains the Indonesian society’s conception of CSR from the managerial standpoints. The society’s understanding of the CSR concept becomes the fundamental foundations of the company in developing CSR programs. This study found the company’s approach to its CSR in two ways. First, proactive CSR which reflects the global CSR guidelines. Second, reactive CSR which do not show any explicit relations to the global guidelines, but conform with society’s demands. The findings stimulate discussions regarding the power of an MNC vis-à-vis the socio-cultural implication in society’s demand for CSR.

Keywords: corporate social responsibility planning, Indonesia, institutional logic, multinational company, oil and gas company, socio-cultural aspects

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8957 The Effect of the Cultural Constraint on the Reform of Corporate Governance: The Observation of Taiwan's Efforts to Transform Its Corporate Governance

Authors: Yuanyi (Richard) Fang

Abstract:

Under the theory of La Porta, Lopez-de-Silanes, Shleifer, and Vishny, if a country can increase its legal protections for minority shareholders, the country can develop an ideal securities market that only arises under the dispersed ownership corporate governance. However, the path-dependence scholarship, such as Lucian Arye Bebchuk and Mark J. Roe, presented a different view with LLS&V. They pointed out that the initial framework of the ownership structure and traditional culture will prevent the change of the corporate governance structure through legal reform. This paper contends that traditional culture factors as an important aspect when forming the corporate governance structure. However, it is not impossible for the government to change its traditional corporate governance structure and traditional culture because the culture does not remain intact. Culture evolves with time. The occurrence of the important events will affect the people’s psychological process. The psychological process affects the evolution of culture. The new cultural norms can help defeat the force of the traditional culture and the resistance from the initial corporate ownership structure. Using Taiwan as an example, through analyzing the historical background, related corporate rules and the reactions of adoption new rules from the media, this paper try to show that Taiwan’s culture norms do not remain intact and have changed with time. It further provides that the culture is not always the hurdle for the adoption of the dispersed ownership corporate governance structure as the culture can change. A new culture can provide strong support for the adoption of the new corporate governance structure.

Keywords: LLS&V theory, corporate governance, culture, path–dependent theory

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8956 The Impact of Corporate Governance Regulation in the Nigerian Banking Sector

Authors: Simisola I. Akintoye, Sunday K. Iyaniwura

Abstract:

Recent global corporate failures have called for increase in the need to regulate corporate governance across the world. In Nigeria, the impact of corporate governance regulation in the banking sector has reached epidemic levels contributing to the country’s economic depression. This study critically evaluates Nigeria’s corporate governance regime and explores how weak regulation has impacted on the banking sector. By adopting a socio legal methodology, the study analyses both theoretical and empirical works from a socio-scientific point of view to examine the role of Nigeria’s legal, cultural and social arrangements in corporate governance regulation. The study reveals that Nigeria’s institutional arrangement has contributed to its weak system of corporate governance regulation with adverse effects on the banking sector. The research mainly impacts on current global corporate governance literature in sub-Saharan Africa by contributing to knowledge of the peculiarities of corporate governance regulation in different institutional jurisdictions. The particular focus on emerging economies such as Nigeria expands on the need for countries to develop a bespoke system of corporate governance regulation that takes into consideration the peculiarities of individual countries devoid of external influence.

Keywords: banks, corporate governance, emerging economies, Nigeria

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8955 Corporate Socially Responsible and Financial Performance in the Tourism-Related Industries

Authors: Yu Shan Wang

Abstract:

Different from other industries, the structure of the tourism industry depends to a large degree the environmental and cultural resources. The industry has to undertake social responsibilities for its commercial behaviour. This paper refers to the seven dimensions of the KLD STATS in 1991-2011 as the indicator to CSR practices. The purpose is to investigate what CSR activities create significant impacts on accounting-based financials and firm values by delving into different CSR dimensions. Meanwhile, this paper takes into consideration S&P 500 and control variables (firm sizes and financial leverage). In fact, the commercial behavior of the tourism-related industry may result in negative impacts on the economy and the society. Therefore, this paper classifies a positive set of CSR elements and a negative set of CSR elements for the tourism-related industry in order to examine their respective effects on short-term profitability and long-term firm values. This can shed light on which CSR dimensions exhibit significant impacts on CFP better than holistic CSR indicators, and hence provide more useful information to investors and corporates. This paper uses quantile regressions to avoid the impact of outliers in the data set. This helps to offer specific information so that companies can make informed decisions.

Keywords: corporate social responsibility, CSR, firm value, tourism, corporate financial performance, CFP

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8954 A Systematic Review on the Effect of Gender Diverse Board on Corporate Social Responsibility

Authors: Rofayda A. Hout

Abstract:

This study aims to investigate the relationship between women on board and corporate social responsibility (CSR) in addition to the role of corporate governance in introducing and implementing CSR practices. Analysis has been conducted on 30 prior studies published between 2007 and 2017 to investigate the common areas and differences across the studies with varying conclusions. The study also handles the differences between developing and developed countries when it comes to gender diverse board and corporate social responsibility. The review conducted reveals that there is a positive relationship between women on board and corporate social responsibility. Comparison between developed and developing countries with respect to CSR implementation highlighted differences due to possible reasons relating to socio-political, cultural, socio-economic, and institutional factors. In addition, developing countries perceive CSR as philanthropy rather than part of their business mission. Given that, CSR needs to be integrated into the corporate strategic planning and be considered as fundamental part of the operations to improve the region’s needs. Developing countries were late in adopting CSR in comparison to developed countries, thus to have a fair comparison between developed and developing countries, corporate governance in developing countries should take serious steps in developing a framework for CSR implementation and integrating it within corporate operations.

Keywords: corporate governance, corporate performance, corporate social responsibility, developed countries, developing countries, gender diverse board, systematic review

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8953 Exploring the Impact of Cultural Values on the Performance of Women Bureaucrats in Pakistan

Authors: Fariya Tahreen

Abstract:

Women are an important part of the society comprising more than 50% population of the world. Participation of women in public services is increasing in the present era while cultural values embedded with gender differences still influencing the performance of working women. Many researches have been carried out on cultural impact on working women like managers, doctors, and lawyers and other public servants. But very rare efforts were made to study the impact of cultural values on the performance of women bureaucrats. The present study aimed to find out the relationship of cultural values (i.e., collective identity, gender segregation, and gender asymmetrical relations) with the performance of women bureaucrats. Sample of the present study comprised of 130 women bureaucrats from the Office Management Group, Inland Revenue, District Management Group, and Pakistan Police Services which is selected by convenient sampling technique. The locale of the study was Islamabad, Rawalpindi and Lahore city. The current research study was conducted by using a quantitative approach in research method and data were collected through survey method. The measures used in the study included: personal information, three main cultural values, and performance of women bureaucrats. Uni-variate and bi-variate analyses were implied by using correlation and multiple linear regression test. The current study shows a negative significant relationship between cultural values and performance of women bureaucrats (R²= 0.790, p-value 0.000). It shows that cultural values (collective identity, gender segregation and gender asymmetrical relations) significantly influence the performance of women bureaucrats. Due to the influence and pressure of these cultural values, women bureaucrats give less time to the office and avail more leaves. They also avoid contacting with male colleagues, public dealings, field visits and playing leadership role. Further, they attend fewer meetings of policy formulation due to given less importance for it. In a nutshell, the study concluded that cultural values significantly influence the performance of women bureaucrats in Pakistan.

Keywords: cultural values, performance, Pakistan, women bureaucrats

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8952 Corporate Social Responsibility and Its Impact on Corporate Governance: Comparative Study between Listed Companies on Bucharest and Bombay Stock Exchange

Authors: L. Feleagă, M. Dumitrașcu, N. Feleagă

Abstract:

This article is a research on corporate governance. The aim of the study is to focus a special attention on the importance of corporate social responsibility and corporate governance, which are relevant, indeed necessary, for organizations. In this regard, we analyzed the corporate social responsibility in the context of corporate governance for companies listed on Bucharest and Bombay Stock Exchange. Therefore, we bring into the spotlight some differences between India and Romania linked with the importance ascribed to corporate social responsibility of a company. We presented the results of the demarche and we concluded suggestions regarding further research in this area. The study increases the awareness, identifies and articulates desirable behaviors, which are not intended to be exhaustive.

Keywords: corporate governance, corporate social responsibility, disclosure, listed companies

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8951 Place and Role of Corporate Governance in Japan

Authors: Feddaoui Amina

Abstract:

In a broad sense, corporate governance covers the organization of the control and management. The term is also used in a narrower sense, to refer to the relationship between shareholders, and the company’s board. There are a lot of discussions devoted to the understanding of the corporate governance role and its principles. In this paper, we are going to describe the definition of corporate governance as a control system and its principles, and find the role of corporate governance and its pillars. Finally, we are going to drop the theoretical study on the case of Japan.

Keywords: corporate governance, place, role, Japan

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8950 Migration and Identity Erosion: An Exploratory Study of First Generation Nigerian-Americans

Authors: Lolade Siyonbola

Abstract:

Nigerians are often celebrated as being the most educated cultural group in America. The cultural values and history that have led to this reality are particular to a generation that came of age post colonialism. Many of these cultural values have been passed down from post-colonial parent to millennial child, but most have not. This study, based on interviews and surveys of Nigerian millennials and their parents in the United States, explores the degree to which identity has been eroded in the millennial generation due to a lack of imparted cultural values and knowledge from the previous generation. Most of the subjects do not speak their native language or identify with their cultural heritage sufficiently to build ties with their native land. Most are experiencing some degree of identity crisis, and therefore limited self-actualization, with little to no support; as there are few successful tools available to this population. If governmental programs to reverse these trends are not implemented within this generation, the implications to the individual, family and home nation (Nigeria), will be felt for generations to come.

Keywords: identity, culture, self-actualization, social identity theory, migration, transnationalism, value systems

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8949 Branding Good Corporate Governance: A Pathway to Strengthen Investors’ Perception and Brand Equity

Authors: Azaz Zaman, Imtiaz Uddin Chowdhury, Mohammad Shariful Islam

Abstract:

Corporate governance has become a crucial issue in both the business and academic world as a result of world-wide financial scandals and lack of trust in corporate practices. There is no doubt that in order to thrive and attain growth in the market, a company must earn the trust of its stakeholders by consistently delivering on its commitments. Directors of the companies thus comprehend the importance of upfront communication with relevant stakeholders to increase their confidence. The authors of this article argue that practicing good corporate governance is not enough in this highly competitive market place; corporate leaders need to market their good corporate governance practices in order to make the company more attractive to investors. This article also contends that the strength of corporate governance relies wholly upon the extent to which it is communicated simply, effectively and unceasingly to its stakeholders. The main objective of this study, therefore, is to explore the importance of branding good corporate governance in order to increase corporate brand equity, attract investors, and capture market share. A structured questionnaire comprising three sections and a total of 34 questions was prepared and surveyed by the authors among respondents residing in Bangladesh and who also have an academic and corporate background, to investigate the potential impact of branding good corporate governance in the market place. High mean values for individual questions and overall section depict that communicating and branding good corporate governance to the stakeholders will not only boost the investors’ confidence but also increase the corporate brand equity, yielding both profitable and sustainable business environment.

Keywords: brand equity, investors’ preference, good corporate governance, sustainable business environment

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8948 Examining the Role of Corporate Culture in Driving Firm Performance

Authors: Lovorka Galetić, Ivana Načinović Braje, Nevenka Čavlek

Abstract:

The purpose of this paper is to analyze the relationship between corporate culture and firm performance. Extensive theoretical and empirical evidence on this issue is provided. A quantitative methodology was used to explore relationship between corporate culture and performance among large Croatian companies. Corporate culture was explored by using Denison framework. The research revealed a positive, statistically significant relationship between mission and performance. Other dimensions of corporate culture (involvement, consistency and adaptability) show only partial relationship with performance.

Keywords: corporate culture, Croatia, Denison culture model, performance

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8947 Impact of Corporate Social Responsibility on the Organisational Performance

Authors: Jagbir Singh Kadyan, C. A. Suman Kadyan

Abstract:

The researchers attempts to establish whether a relationship exists between the social activities undertaken & the funds that has been spent by the selected corporate organisations. Corporate listed on the (NSE) National Stock Exchange of India, under different categories shall be selected as a sample for the purpose of this study. The researches shall also study the dynamics of corporate social responsibility funding, financing & management of corporate social responsibility funds by the above selected organisations in the Indian context. The rationale behind selecting & undertaking specific corporate social responsibility activities shall be analysed & interpreted to discover the real drivers of corporate social responsibility. Besides above, an attempt shall further make an effort to understand & analyse the nature of impact on the selected corporate organisations on its overall performances due to the activities undertaken under their specific corporate social responsibility programs.

Keywords: corporate social responsibility, organisational performance, national stock exchange, sustainability, society, health, education, sanitation, environment

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8946 Corporate Governance and Accountability: Nigeria Perspective

Authors: Obazee Osariere

Abstract:

Corporate governance has been an emerging subject of worldwide interest in the 21st century following the failure of going concerns that were hitherto thought to be financially stable before their collapse. Nigeria has had its fair share of corporate collapse, which has made it embrace and develop its corporate governance regime. This paper seeks to undertake an overview of corporate governance and accountability: Nigeria's perspective. This paper examines the various ways the concept has been viewed, its various dimensions, and its basic principles as a major instrument of ensuring corporate governance and accountability and confidence in the operations of organisations. The paper, which adopts a qualitative research method, however, provides an essential theoretical framework within which better practice of corporate governance and accountability can be evolved for appreciable corporate results in the Nigerian business environment. Thus, a historical perspective is adopted to understudy the evolution of corporate governance and accountability from its little beginning to the present time. The adoption of these strategies, it is argued, will engender participation by various principles, engender mutual understanding, build social support and ensure accountability and openness. Such strategies would also help in attitude and behavioural change required to instill in the operators of corporate organisations the best practice enshrined in corporate governance and accountability.

Keywords: corporate governance, accountability, organisations, Nigeria, perspective

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8945 Corporate Governance Attributes and Financial Performance in Malaysian Listed Companies

Authors: Idris Adamu Alhaji, Wan Fauziahbt Wan Yusoff

Abstract:

This study was conducted to identify the relationship between Corporate Governance attributes and Firm Performance, various studies, had been carried out mostly in developed countries, in order to identify the relationship between corporate governance attributes and firm performance. Since, the value creation of corporate governance can be measured through the firm performance, corporate governance act as a mechanism to align management's goals with the stakeholders especially to increase firm performance. Despite extensive study of corporate governance there is still an inconsistence relationship between corporate governance attributes and firm performance. Therefore, the aim of this paper is to identify the relationship between corporate governance attributes and firm performance. Five corporate governance element were used as independent variables which include: Independent director, board size, audit committee, leadership structure and board meeting. Meanwhile, the dependent variables are two firm performance measurements; return on equity (ROE) and earning per share (EPS). This study uses quantitative approaches whereby data were gathered from secondary source data were collected from Annual Reports of the companies, online journals etc. This study revealed that, there is a significant relationship between corporate governance attributes and firm performance. Therefore, the results show that good corporate governance practice influence firm performance. Finally, it's hoped that this study provides current corporate governance scenario in Malaysia that can be used to enhance the development of corporate governance of the country.

Keywords: corporate governance, return on equity, earning per share, financial performance

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8944 Simultaneous Relationship among Strategic Corporate Social Responsibility, Corporate Governance, and Firm Performance: Evidence from Indonesia

Authors: Ayu Diar Sari, Sidharta Utama

Abstract:

The main objective of this study is to examine the empirical association among strategic corporate social responsibility (Strategic CSR), corporate governance (CG), and firm performance by investigating their causal effects. In order to get the comprehensive result, this study uses CSR variables which consist of Strategic CSR, Non-Strategic CSR and CSR as a whole. Exerting the two stage least square (2SLS) method, the result showed that CG mechanism positively influences CSR, Non-Strategic CSR, and firm performance (both ROA and PBV). CSR and Non-Strategic CSR positively influence ROA. Meanwhile CSR, Strategic and Non-Strategic CSR positively influence PBV. Firm’s Strategic CSR engagement plays a significantly positive role in enhancing PBV. The results supported the social impact hypothesis, agency theory, and conflict resolution theory.

Keywords: corporate financial performance, corporate governance, corporate social responsibility, strategic corporate social responsibility

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8943 Developing a Performance Measurement System for Arts-Based Initiatives: Action Research on Italian Corporate Museums

Authors: Eleonora Carloni, Michela Arnaboldi

Abstract:

In academia, the investigation of the relationship between cultural heritage and corporations is ubiquitous in several fields of studies. In practice corporations are more and more integrating arts and cultural heritage in their strategies for disparate benefits, such as: to foster customer’s purchase intention with authentic and aesthetic experiences, to improve their reputation towards local communities, and to motivate employees with creative thinking. There are diverse forms under which corporations set these artistic interventions, from sponsorships to arts-based training centers for employees, but scholars agree that the maximum expression of this cultural trend are corporate museums, growing in number and relevance. Corporate museums are museum-like settings, hosting artworks of corporations’ history and interests. In academia they have been ascribed as strategic asset and they have been associated with diverse uses for corporations’ benefits, from place for preservation of cultural heritage, to tools for public relations and cultural flagship stores. Previous studies have thus extensively but fragmentally studied the diverse benefits of corporate museum opening to corporations, with a lack of comprehensive approach and a digression on how to evaluate and report corporate museum’s performances. Stepping forward, the present study aims to investigate: 1) what are the key performance measures corporate museums need to report to the associated corporations; 2) how are the key performance measures reported to the concerned corporations. This direction of study is not only suggested as future direction in academia but it has solid basis in practice, aiming to answer to the need of corporate museums’ directors to account for corporate museum’s activities to the concerned corporation. Coherently, at an empirical level the study relies on action research method, whose distinctive feature is to develop practical knowledge through a participatory process. This paper indeed relies on the experience of a collaborative project between the researchers and a set of corporate museums in Italy, aimed at co-developing a performance measurement system. The project involved two steps: a first step, in which researchers derived the potential performance measures from literature along with exploratory interviews; a second step, in which researchers supported the pool of corporate museums’ directors in co-developing a set of key performance indicators for reporting. Preliminary empirical findings show that while scholars insist on corporate museums’ capability to develop networking relations, directors insist on the role of museums as internal supplier of knowledge for innovation goals. Moreover, directors stress museums’ cultural mission and outcomes as potential benefits for corporation, by remarking to include both cultural and business measures in the final tool. In addition, they give relevant attention to the wording used in humanistic terms while struggling to express all measures in economic terms. The paper aims to contribute to corporate museums’ and more broadly to arts-based initiatives’ literature in two directions. Firstly, it elaborates key performance measures with related indicators to report on cultural initiatives for corporations. Secondly, it provides evidence of challenges and practices to handle reporting on these initiatives, because of tensions arising from the co-existence of diverse perspectives, namely arts and business worlds.

Keywords: arts-based initiative, corporate museum, hybrid organization, performance measurement

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8942 Linking Corporate Entrepreneurship with Human Resources Management Practices

Authors: R. Maalej, I. Amami, S. Saadaoui

Abstract:

Within the growing body of literature on corporate entrepreneurship, there is a need to understand the relationship between human resource management and corporate entrepreneurship. This paper outlines the linkage between human resource management practices with corporate entrepreneurship. In response, we propose a review of the literature that is based on a conceptual reading of corporate entrepreneurship, human resource management practices and the relationship between them.

Keywords: human resource management, human resources management practices, corporate entrepreneurship, entrepreneur

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8941 Cause-Related Marketing: A Review of the Literature

Authors: Chang Hung Chen

Abstract:

Typically the Cause-Related Marketing (CRM) is effective for promoting products, and is also accepted as a role of communication tool for creating a positive image of the corporate. Today, companies are taking Corporate Social Responsibility (CSR) as core activities to build a goal of sustainable development. CRM is not a synonym of CSR. Actually, CRM is a part of CSR, or a type of marketing strategy in CSR framework. This article focuses on the relationship between CSR and CRM, and how the CRM improves the CSR performance of the corporate. The research was conducted through review of literature on the subject area.

Keywords: cause-related marketing, corporate social responsibility, corporate image, consumer behavior

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8940 Effects of Financial and Non-Financial Accounting Information Reports on Corporate Credibility and Image of the Listed-Firms in Thailand

Authors: Anocha Rojanapanich

Abstract:

This research investigates the effect of financial accounting information and non-financial accounting reports on corporate credibility via strength of board of directors and market environment volatility as moderating effect. Data in this research is collected by questionnaire form non-financial companies listed on the Stock Exchange of Thailand. Multiple regression statistic technique is used for analyzing the data. Results find that firms with greater financial accounting information reports and non-financial accounting information reports will gain greater corporate credibility. Therefore, the corporate reporting has the value for the firms. Moreover, the strength of board of directors will positively moderate the financial and non-financial accounting information reports and corporate credibility relationship. And market environment volatility will negatively moderate the financial and nonfinancial accounting information reports and corporate credibility relationship and the contribution of accounting information reports on corporate credibility is generated to the corporate image. That is the corporate image has affected by corporate credibility.

Keywords: corporate credibility, financial and non-financial reports, firms performance, corporate image

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8939 Economic Integration vs. Conflicts in Northeast Asia

Authors: Heeho Kim, Byeong-Hae Sohn

Abstract:

This study has examined the culture commonality of Northeast Asian countries based on Confucian values, and their relations to institutional economic integration. This study demonstrates that Confucian values inherent in the Northeast Asian countries have served as the cultural ethos for the rapid economic growth of this region since the 1960s and will be able to form the foundation of Northeast Asian values in the future. This paper re-appreciates these cultural values as a necessary condition for regional integration to catalyze the stagnated discussions about economic integration and extends its inter-weaving connection role for intra-regional transaction among China, Japan and Korea.

Keywords: Confucianism, Northeast Asia, economic integration, economic growth, regional conflicts

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8938 How Cultural Tourists Perceive Authenticity in World Heritage Historic Centers: An Empirical Research

Authors: Odete Paiva, Cláudia Seabra, José Luís Abrantes, Fernanda Cravidão

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There is a clear ‘cult of authenticity’, at least in modern Western society. So, there is a need to analyze the tourist perception of authenticity, bearing in mind the destination, its attractions, motivations, cultural distance, and contact with other tourists. Our study seeks to investigate the relationship among cultural values, image, sense of place, perception of authenticity and behavior intentions at World Heritage Historic Centers. From a theoretical perspective, few researches focus on the impact of cultural values, image and sense of place on authenticity and intentions behavior in tourists. The intention of this study is to help close this gap. A survey was applied to collect data from tourists visiting two World Heritage Historic Centers – Guimarães in Portugal and Cordoba in Spain. Data was analyzed in order to establish a structural equation model (SEM). Discussion centers on the implications of model to theory and managerial development of tourism strategies. Recommendations for destinations managers and promoters and tourist organizations administrators are addressed.

Keywords: authenticity perception, behavior intentions, cultural tourism, cultural values, world heritage historic centers

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8937 Factors That Influence Willingness to Pay for Theatre Performances: The Case of Lithuanian National Drama Theatre

Authors: Rusne Kregzdaite

Abstract:

The value of the cultural sector stems from the symbolic exploration that differentiates cultural organisations from other product or service organisations. As a result, the cultural sector has a dual impact on the socio-economic system: the economic value (expressed in terms of market relations) created influences the dynamics of the country's financial indicators, while the cultural (non-market) value indirectly contributes to the welfare of the state through changes in societal values, creativity transformations and cultural needs of the country. Measurement of indirect (cultural value) impacts is difficult, but in the case of the cultural sector (especially when it comes to economically inefficient state-funded culture), it helps to reveal the essential characteristics of the sector. The study aims to analyze the value of cultural organisations that are invisible in market processes and to base it on quantified calculations. This was be done by analyzing the usefulness of the consumer, incorporating not only the price paid but also the social and cultural decision-making factors that determine the spectator's choice (time dedicated for a visit, additional costs, content, previous experiences, corporate image). This may reflect the consumer's real choice to consume (all the costs he incurs may be considered the financial equivalent of his experience with the cultural establishment). The research methodology was tested by analyzing the performing arts sector and applying methods to the Lithuanian national drama theatre case. The empirical research consisted of a survey (more than 800 participants) of Lithuanian national drama theatre visitors to different performances. The willingness to pay and travel costs methods were used. Analysis of different performances lets identifies the factor that increases willingness to pay for the performance and affects theatre attendance. The research stresses the importance of cultural value and social perspective of the cultural sector and relates it to the discussions of public funding of culture.

Keywords: cultural economics, performing arts, willingness to pay, travel cost analysis, performing arts management

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