Demystifying the use of corporate social responsibility terminology in the investment context

Orientation: Interest in corporate social responsibility (CSR) is escalating in the 21st century. Globally, companies are increasingly attempting to enhance their reporting on sustainability concerns, given that terminology can noticeably affect the attitudes and behaviours of investors and other key stakeholders. Research purpose: A growing number of responsible investors incorporate sustainability considerations when making investment decisions. Therefore, it is important to determine the relevant CSR definitions and dimensions based on the breadth of existing research on CSR in the investment context. Motivation for the study: As investors incorporate companies’ reporting on a range of financial and sustainability performance metrics when making investment decisions, it is necessary to clarify sustainability-related terminology from an investor perspective. Research approach/design and method: A systematic literature review was performed to explore sustainability terminology in the investment context with a particular focus on CSR. Content and thematic analyses were conducted on 94 articles. Main findings: The findings confirm that although concepts such as sustainability and corporate citizenship have been used interchangeably with CSR by previous scholars, referral to CSR has remained relevant in the investment context. Eight key dimensions were identified to describe CSR in an investment context, namely, social concerns, stakeholders, economic factors, environment, action, voluntarism, ethics, and sustainability. Practical/managerial implications: The identification of context-specific CSR dimensions provides a foundation for developing CSR measurement tools for investors and corporate decision makers. Contribution/value-add: Eight core dimensions of CSR were identified and combined in a comprehensive, context-specific definition applicable to the investment context

Outcomes from elective colorectal cancer surgery during the SARS-CoV-2 pandemic

This study aimed to describe the change in surgical practice and the impact of SARS-CoV-2 on mortality after surgical resection of colorectal cancer during the initial phases of the SARS-CoV-2 pandemic

Elective cancer surgery in COVID-19-free surgical pathways during the SARS-CoV-2 pandemic: An international, multicenter, comparative cohort study

PURPOSE As cancer surgery restarts after the first COVID-19 wave, health care providers urgently require data to determine where elective surgery is best performed. This study aimed to determine whether COVID-19–free surgical pathways were associated with lower postoperative pulmonary complication rates compared with hospitals with no defined pathway. PATIENTS AND METHODS This international, multicenter cohort study included patients who underwent elective surgery for 10 solid cancer types without preoperative suspicion of SARS-CoV-2. Participating hospitals included patients from local emergence of SARS-CoV-2 until April 19, 2020. At the time of surgery, hospitals were defined as having a COVID-19–free surgical pathway (complete segregation of the operating theater, critical care, and inpatient ward areas) or no defined pathway (incomplete or no segregation, areas shared with patients with COVID-19). The primary outcome was 30-day postoperative pulmonary complications (pneumonia, acute respiratory distress syndrome, unexpected ventilation). RESULTS Of 9,171 patients from 447 hospitals in 55 countries, 2,481 were operated on in COVID-19–free surgical pathways. Patients who underwent surgery within COVID-19–free surgical pathways were younger with fewer comorbidities than those in hospitals with no defined pathway but with similar proportions of major surgery. After adjustment, pulmonary complication rates were lower with COVID-19–free surgical pathways (2.2% v 4.9%; adjusted odds ratio [aOR], 0.62; 95% CI, 0.44 to 0.86). This was consistent in sensitivity analyses for low-risk patients (American Society of Anesthesiologists grade 1/2), propensity score–matched models, and patients with negative SARS-CoV-2 preoperative tests. The postoperative SARS-CoV-2 infection rate was also lower in COVID-19–free surgical pathways (2.1% v 3.6%; aOR, 0.53; 95% CI, 0.36 to 0.76). CONCLUSION Within available resources, dedicated COVID-19–free surgical pathways should be established to provide safe elective cancer surgery during current and before future SARS-CoV-2 outbreaks

Elective Cancer Surgery in COVID-19-Free Surgical Pathways During the SARS-CoV-2 Pandemic: An International, Multicenter, Comparative Cohort Study.

PURPOSE: As cancer surgery restarts after the first COVID-19 wave, health care providers urgently require data to determine where elective surgery is best performed. This study aimed to determine whether COVID-19-free surgical pathways were associated with lower postoperative pulmonary complication rates compared with hospitals with no defined pathway. PATIENTS AND METHODS: This international, multicenter cohort study included patients who underwent elective surgery for 10 solid cancer types without preoperative suspicion of SARS-CoV-2. Participating hospitals included patients from local emergence of SARS-CoV-2 until April 19, 2020. At the time of surgery, hospitals were defined as having a COVID-19-free surgical pathway (complete segregation of the operating theater, critical care, and inpatient ward areas) or no defined pathway (incomplete or no segregation, areas shared with patients with COVID-19). The primary outcome was 30-day postoperative pulmonary complications (pneumonia, acute respiratory distress syndrome, unexpected ventilation). RESULTS: Of 9,171 patients from 447 hospitals in 55 countries, 2,481 were operated on in COVID-19-free surgical pathways. Patients who underwent surgery within COVID-19-free surgical pathways were younger with fewer comorbidities than those in hospitals with no defined pathway but with similar proportions of major surgery. After adjustment, pulmonary complication rates were lower with COVID-19-free surgical pathways (2.2% v 4.9%; adjusted odds ratio [aOR], 0.62; 95% CI, 0.44 to 0.86). This was consistent in sensitivity analyses for low-risk patients (American Society of Anesthesiologists grade 1/2), propensity score-matched models, and patients with negative SARS-CoV-2 preoperative tests. The postoperative SARS-CoV-2 infection rate was also lower in COVID-19-free surgical pathways (2.1% v 3.6%; aOR, 0.53; 95% CI, 0.36 to 0.76). CONCLUSION: Within available resources, dedicated COVID-19-free surgical pathways should be established to provide safe elective cancer surgery during current and before future SARS-CoV-2 outbreaks

Assessing the role that perception of corporate identity and corporate social responsibility practices play in the investment intention of potential individual investors

Thesis (MCom)--Stellenbosch University, 2020.ENGLISH ABSTRACT: Worldwide, an increasing number of companies are using corporate social responsibility (CSR) activities as a business tool to promote financial returns, cultivate a favourable reputation, and enhance workforce productivity. Given the growing importance of sound CSR practices and considerable corporate investment in CSR activities, it is essential to understand how these activities impact on decisions made by different stakeholders. Previous researchers mainly focused on the effects of CSR on customers’ intent to purchase. Very limited research has been conducted to understand the effect of CSR on other key stakeholders, including investors. While traditional finance theories are based on the assumption that rational investors evaluate investment decisions purely on risk-return considerations, behavioural finance theory proposes that investors’ attitudes towards a particular firm could influence their decision to invest in the firm. This study was undertaken to address the identified knowledge gap by assessing the role that perception of corporate identity and CSR practices play in the investment intention of potential individual investors, by adapting a dual-process model that was developed based on consumer behavioural constructs. The first part of the model accounted for the bond between an investor and the selected company (Nedbank) in terms of corporate identity. The second part of the model incorporated investors’ perceptions of the specific CSR practices of Nedbank. The model was assessed by an electronic questionnaire distributed to all students registered at Stellenbosch University during the second semester of 2019. In response to this invitation, 1 649 usable questionnaires were received. The descriptive statistics revealed that the respondents had a positive perception of Nedbank’s corporate identity. They perceived Nedbank to perform better on the corporate expertise than the corporate values dimension. Although the respondents had a very favourable attitude towards CSR initiatives in general, they were concerned that Nedbank performed poorly regarding some of their CSR practices. The results furthermore indicated that the respondents were not really familiar with Nedbank’s CSR practices. The partial least square structural equation modelling inferential analysis indicated that discretionary and relational CSR practices had more predictive relevance towards corporate values than corporate expertise, while moral CSR practices strongly predicted the perception of both dimensions. In turn, the perception of both corporate values and corporate expertise strongly predicted investment intention. Although corporate expertise and corporate values acted as mediators between all the types of CSR practices and investment intention, the significance was weak. The effect of CSR familiarity on investment intention was neither mediated by corporate values nor corporate expertise. The results revealed that CSR familiarity had a strong positive direct effect on investment intention. Based on the results, the researcher recommends that CSR programmes should effectively be communicated and promoted to investors as it plays a significant role in their investment decision-making. Furthermore, companies are encouraged to commence their CSR journey by addressing moral CSR practices as it was shown to be the most beneficial in enhancing potential investors’ perceptions of corporate identity and, therefore, their investment intention. Companies should continuously focus on their CSR behaviour to attract potential investors.AFRIKAANSE OPSOMMING: Wêreldwyd gebruik ondernemings toenemend korporatiewe sosiale verantwoordelikheid (KSV) aktiwiteite as ʼn besigheidsinstrument om finansiële opbrengste te bevorder, ʼn gunstige reputasie te bou en die produktiwiteit van werknemers te verhoog. Gegewe die toenemende belang en aansienlike korporatiewe belegging in KSV-aktiwiteite, is dit noodsaaklik om te verstaan hoe hierdie aktiwiteite die besluite van verskillende belanghebbendes beïnvloed. Vorige navorsers het meestal die invloed van KSV-aktiwiteite op verbruikersbesluitneming ondersoek. Beperkte navorsing is egter gedoen om die effek van KSV aktiwiteite op ander belanghebbendes, insluitend beleggers, te verstaan. Alhoewel tradisionele finansiesteorieë op die aanname dat rasionele beleggers beleggingsbesluite op risiko-opbrengs-oorwegings neem gebaseer is, stel gedragsfinansies voor dat die houding van beleggers teenoor 'n spesifieke onderneming hul besluit om in die onderneming te belê, kan beïnvloed. Die hoofdoel van hierdie studie was om die geïdentifiseerde navorsingsgaping aan te spreek deur die rol wat die persepsie van korporatiewe identiteit en KSV-praktyke in die beleggingsintensie van potensiële individuele beleggers speel te bestudeer deur 'n tweeledige model, wat op grond van verbruikersgedragskonstrukte ontwikkel is, aan te pas. Die eerste deel van die model bestudeer die verband tussen 'n belegger en die geselekteerde maatskappy (Nedbank) ten opsigte van korporatiewe identiteit. Die tweede deel van die model bestudeer beleggers se persepsie van die spesifieke KSV-praktyke van Nedbank. Die model is beoordeel aan die hand van ʼn elektroniese vraelys wat aan alle studente wat gedurende die tweede semester van 2019 by die Universiteit Stellenbosch geregistreer was, versprei is. Vir die studie is 1 649 bruikbare vraelyste ontvang. Die beskrywende statistiek het aangedui dat die respondente 'n positiewe persepsie van Nedbank se korporatiewe identiteit het. Hulle het gevoel dat Nedbank beter presteer in die korporatiewe kundigheid dimensie as die dimensie van korporatiewe waardes. Alhoewel die respondente 'n baie gunstige houding teenoor KSV-inisiatiewe in die algemeen gehad het, het hulle gevoel dat Nedbank swak presteer ten opsigte van sommige van hul KSV-praktyke. Die resultate het aangedui dat die respondente nie regtig vertroud was met Nedbank se KSV-praktyke nie. Die “partial least squares structural equation modelling” analise het aangedui dat diskresionêre en relasionele KSV-praktyke die korporatiewe waardes dimensie van korporatiewe identiteit voorspel, terwyl morele KSV-praktyke beide dimensies van korporatiewe identiteit sterk voorspel het. Die persepsie van korporatiewe waardes en kundigheid het beleggingsintensie sterk voorspel. Alhoewel korporatiewe kundigheid en waardes as bemiddelaars opgetree het tussen alle soorte KSV-praktyke en beleggingsintensie, was die beduidendheid swak. Die invloed van KSV-kennis op beleggingsintensie is nie bemiddel deur korporatiewe waardes of kundigheid nie. Die resultate het aan die lig gebring dat bekendheid met KSV-aktiwiteite ʼn sterk direkte invloed op beleggingsintensie het. Op grond van die resultate beveel die navorser aan dat KSV-programme effektief aan beleggers gekommunikeer en bevorder moet word, aangesien dit 'n beduidende rol in hul beleggingsbesluitneming speel. Verder word ondernemings aangemoedig om hul KSV-reis te begin deur morele KSV-praktyke aan te spreek, aangesien dit die voordeligste is om potensiële beleggers se persepsie van korporatiewe identiteit te bevorder, en sodoende hul beleggingsintensie te bevorder. Maatskappye moet voortdurend op hul KSV-gedrag fokus om potensiële beleggers te lok.Master

Outcomes from elective colorectal cancer surgery during the SARS-CoV-2 pandemic

Aim: This study aimed to describe the change in surgical practice and the impact of SARS-CoV-2 on mortality after surgical resection of colorectal cancer during the initial phases of the SARS-CoV-2 pandemic. Method: This was an international cohort study of patients undergoing elective resection of colon or rectal cancer without preoperative suspicion of SARS-CoV-2. Centres entered data from their first recorded case of COVID-19 until 19 April 2020. The primary outcome was 30-day mortality. Secondary outcomes included anastomotic leak, postoperative SARS-CoV-2 and a comparison with prepandemic European Society of Coloproctology cohort data. Results: From 2073 patients in 40 countries, 1.3% (27/2073) had a defunctioning stoma and 3.0% (63/2073) had an end stoma instead of an anastomosis only. Thirty-day mortality was 1.8% (38/2073), the incidence of postoperative SARS-CoV-2 was 3.8% (78/2073) and the anastomotic leak rate was 4.9% (86/1738). Mortality was lowest in patients without a leak or SARS-CoV-2 (14/1601, 0.9%) and highest in patients with both a leak and SARS-CoV-2 (5/13, 38.5%). Mortality was independently associated with anastomotic leak (adjusted odds ratio 6.01, 95% confidence interval 2.58–14.06), postoperative SARS-CoV-2 (16.90, 7.86–36.38), male sex (2.46, 1.01–5.93), age >70 years (2.87, 1.32–6.20) and advanced cancer stage (3.43, 1.16–10.21). Compared with prepandemic data, there were fewer anastomotic leaks (4.9% versus 7.7%) and an overall shorter length of stay (6 versus 7 days) but higher mortality (1.7% versus 1.1%). Conclusion: Surgeons need to further mitigate against both SARS-CoV-2 and anastomotic leak when offering surgery during current and future COVID-19 waves based on patient, operative and organizational risks

Outcomes from elective colorectal cancer surgery during the SARS‐CoV‐2 pandemic

Aim This study aimed to describe the change in surgical practice and the impact of SARS-CoV-2 on mortality after surgical resection of colorectal cancer during the initial phases of the SARS-CoV-2 pandemic. Method This was an international cohort study of patients undergoing elective resection of colon or rectal cancer without preoperative suspicion of SARS-CoV-2. Centres entered data from their first recorded case of COVID-19 until 19 April 2020. The primary outcome was 30-day mortality. Secondary outcomes included anastomotic leak, postoperative SARS-CoV-2 and a comparison with prepandemic European Society of Coloproctology cohort data. Results From 2073 patients in 40 countries, 1.3% (27/2073) had a defunctioning stoma and 3.0% (63/2073) had an end stoma instead of an anastomosis only. Thirty-day mortality was 1.8% (38/2073), the incidence of postoperative SARS-CoV-2 was 3.8% (78/2073) and the anastomotic leak rate was 4.9% (86/1738). Mortality was lowest in patients without a leak or SARS-CoV-2 (14/1601, 0.9%) and highest in patients with both a leak and SARS-CoV-2 (5/13, 38.5%). Mortality was independently associated with anastomotic leak (adjusted odds ratio 6.01, 95% confidence interval 2.58–14.06), postoperative SARS-CoV-2 (16.90, 7.86–36.38), male sex (2.46, 1.01–5.93), age >70 years (2.87, 1.32–6.20) and advanced cancer stage (3.43, 1.16–10.21). Compared with prepandemic data, there were fewer anastomotic leaks (4.9% versus 7.7%) and an overall shorter length of stay (6 versus 7 days) but higher mortality (1.7% versus 1.1%). Conclusion Surgeons need to further mitigate against both SARS-CoV-2 and anastomotic leak when offering surgery during current and future COVID-19 waves based on patient, operative and organizational risks

The impact of surgical delay on resectability of colorectal cancer: An international prospective cohort study

AimThe SARS-CoV-2 pandemic has provided a unique opportunity to explore the impact of surgical delays on cancer resectability. This study aimed to compare resectability for colorectal cancer patients undergoing delayed versus non-delayed surgery.MethodsThis was an international prospective cohort study of consecutive colorectal cancer patients with a decision for curative surgery (January-April 2020). Surgical delay was defined as an operation taking place more than 4 weeks after treatment decision, in a patient who did not receive neoadjuvant therapy. A subgroup analysis explored the effects of delay in elective patients only. The impact of longer delays was explored in a sensitivity analysis. The primary outcome was complete resection, defined as curative resection with an R0 margin.ResultsOverall, 5453 patients from 304 hospitals in 47 countries were included, of whom 6.6% (358/5453) did not receive their planned operation. Of the 4304 operated patients without neoadjuvant therapy, 40.5% (1744/4304) were delayed beyond 4 weeks. Delayed patients were more likely to be older, men, more comorbid, have higher body mass index and have rectal cancer and early stage disease. Delayed patients had higher unadjusted rates of complete resection (93.7% vs. 91.9%, P = 0.032) and lower rates of emergency surgery (4.5% vs. 22.5%, P ConclusionOne in 15 colorectal cancer patients did not receive their planned operation during the first wave of COVID-19. Surgical delay did not appear to compromise resectability, raising the hypothesis that any reduction in long-term survival attributable to delays is likely to be due to micro-metastatic disease

The impact of surgical delay on resectability of colorectal cancer: An international prospective cohort study

The SARS-CoV-2 pandemic has provided a unique opportunity to explore the impact of surgical delays on cancer resectability. This study aimed to compare resectability for colorectal cancer patients undergoing delayed versus non-delayed surgery