49 research outputs found
Gender inequality and disabled inclusivity in accounting higher education and profession during financial crisis
In this paper, we find that during financial crises, the wage gap between female and male accounting professionals reduces and affects gender inequality in higher education. In addition, less support and lower wages for disabled accounting professionals demotivate disabled students in accounting higher education. Because of budget cuts during financial crisis, universities limit their support to women and the disabled. We consider 104 universities from the UK Higher Education Statistic Agency (HESA) database for 2005â 2011. The theoretical and empirical findings of this paper establish the positive growth in female students and the negative growth in disabled accounting students during the recent financial crisis. The established link between higher education and the accounting profession enriches the existing accounting literature and assists policymakers in identifying a better strategy to enhance equality and inclusion of disabled students in accounting higher education to address inequality and non-inclusivity in the accounting profession, especially during financial crisis
Technological breadth and depth of knowledge in innovation: the role of mergers and acquisitions in biotech
We analyze the diffusion and integration of external knowledge by distinguishing between the depth and breadth of technological knowledge in combination with the type of partner and channel of exchange. Using a latent variable structural equation model with a sample of 202 US biotechnology firms between 1990 and 2009, we investigate the extent to which the mergers and acquisitions with different partners contribute to the depth and breadth of the focal firm's knowledge base. Our analysis also addresses potential endogeneity issues and shows that acquisitions of related firms mainly increase the depth of knowledge, while acquisitions of unrelated firms develop the breadth of knowledge
Corporate accountability towards species extinction protection:insights from ecologically forward-thinking companies
This paper contributes to biodiversity and species extinction literature by examining the relationship between corporate accountability in terms of species protection and factors affecting such accountability from forward-thinking companies. We use triangulation of theories, namely deep ecology, legitimacy, and we introduce a new perspective to the stakeholder theory that considers species as a âstakeholderâ. Using Poisson pseudo-maximum likelihood (PPML) regression, we examine a sample of 200 Fortune Global companies over three years. Our results indicate significant positive relations between ecologically conscious companies that are accountable for the protection of biodiversity and species extinction and external assurance, environmental performance, partnerships with socially responsible organizations and awards for sustainable activities. Our empirical results appear to be robust in controlling for possible endogeneities. Our findings contribute to the discussion on the concern of species loss and habitat destruction in the context of corporate accountability, especially in responding to the sixth mass extinction event and COVID-19 crisis. Our results can also guide the policymakers and stakeholders of the financial market in better decision making
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Exploration of small and medium entities' actions on sustainability practices and their implications for a greener economy
Purpose
We explore the behaviour and perspectives of SMEsâ owners towards a greener economy and its
implications for the net zero carbon emissions target.
Design/methodology/approach
We draw on the mirroring concept and 26 semi-structured interviews with SMEsâ owners and
managers to provide insights and explore the misalignment between SMEsâ actions and perceptions,
and the technical architecture (and requirements) of achieving net zero carbon emissions in the UK.
Findings
We find that SMEs lack trust and are sceptical about the governmentâs net zero emissions agenda. We
also find that lack of understanding and perceived benefits, and supply chain complexities (end-to-end
emissions) are the key factors hindering SMEs interests in engaging with better carbon emissions
management and environmental management system (EMS). Moreover, the pressure from external
stakeholders, particularly banks and customers are identified as a strong driver to draw SMEs more
effectively with sustainability and environmental impact disclosure.
Research limitations/implications
The sample is limited to 26 SMEsâ owners operating in seven industries. Future research could
explore the result in other industries. Further research could also investigate how the sustainability
reports produced by SMEs are useful for different user groupsâ decision-making. This study
reinforces the social constructionist approach to advance our understanding of SMEsâ actions towards
carbon emission management and EMS.
Practical implications
This study shows how government policies and SMEsâ interests can be aligned for the benefit of
achieving the net zero carbon emissions target.
Original/value
This is the first study to examine the perceptions and behaviour of SMEs towards the ongoing pursuit
of a greener economy in the UK, including the key factors driving their actions and reasoning
B Corps in India : a sustainable business model
Copyright © The Author(s) 2023. After countries recognized the profound significance of assessing social and environmental performance as a prerequisite for sustainable business existence, various nongovernmental organizations as well as regulatory bodies developed measurement scales to gauge this performance. In this paper, we refer to one such assessment tool, B Impact Assessment (BIA), proposed by B Corps to benchmark the reporting framework of Indian companies for their social and environmental performance. The listed Indian companies were required to publish business responsibility reporting (BRR) which lacks generalization with other international standards.
In this study, we consider BRR and propose a revised Business Responsibility and Sustainability Report (BRSR) framework to make it comparable and compatible with BIA, which is acceptable worldwide. Also, we introduce measurement scores of the BRR at a granular levelâtaking 109 items of the existing scale and 13 items identified after benchmarking with BIA, together aggregating to maximum score of 200. In addition, to support the Indian Institute of Corporate Affairs (IICA) to analyze the completeness, accuracy, and clarity of BRR, we apply scoring mechanism to develop sections A and B of the BRSR. The universal applicability of scale and benchmarking with internationally acceptable BIA will encourage more Indian companies to adopt social responsibilities and will make the assurance of annual report simple. Moreover, the proposed scale can also be used to identify companies that are eligible for the proposed Social Security Exchange in India. We expect that the findings will contribute to the literature on social responsibility and corporate sustainability and in practice accelerate the âCSR movementâ in India
Can CSR mechanisms spur GRI adoption and restore its lost value relevance?
Purpose
This paper focuses exclusively on the drivers and consequences of Global Reporting Initiative (GRI) adoption in sustainability reports with a particular focus on corporate social responsibility (CSR) mechanisms.
Design/methodology/approach
The sample includes 63 countries with 4,625 unique firms in these countries and 29,054 firm-year observations between 2002 and 2019. The empirical methodology is logistic and linear regression analyses with country and year fixed effects.
Findings
The findings show that CSR committees and executive CSR compensation stimulate firms' GRI adoption. Furthermore, while GRI adoption enhanced firm value in the earlier period of 2002â2010, it weakened firm value in the later period between 2011 and 2019 implying a loss of value relevance. However, the moderating effect of CSR committees and executive CSR compensation on GRI adoption has led to higher firm value in recent times. A more in-depth investigation of polluting versus non-polluting sectors and weak and strong institutional environments reveals both convergence and divergence respectively among these sub-samples. The results are robust to alternative samplings, alternative methodology and endogeneity concerns.
Research limitations/implications
The main limitations of the study are the binary nature of key variables, such as CSR committee, executive CSR compensation and GRI adoption, due to the availability of binary data but not continuous data.
Practical implications
Firms allocate substantial funds for SR and following GRI guidelines; hence, the findings guide them on how to ensure the return on this investment.
Social implications
Shareholders who particularly pursue socially responsible investment can shape their investment portfolios in firms that engage with sustainability reporting (SR) and GRI adoption practices.
Originality/value
It is not clear in the literature if CSR committees will adopt the GRI for SR because of any incentive. Thus, we examine if the CSR committee and executive CSR compensation can play a direct role in GRI adoption and play a moderating role between GRI adoption and firm value. Moreover, whether GRI adoption and its value relevance might change across periods, sectors (polluting versus non-polluting) and varying institutional environments (investor protection) are addressed in this study
Editorial : Entrepreneurial finance for green innovative SMEs
The route to net zero requires green finance for small and medium-sized enterprises (SMEs) to be at the top of the agenda for governments globally! This view was defended by Owen et al. [31] in response to the Conference of the Parties of the United Nations Framework Convention on Climate Change (COP21) Paris 2015 call for a net zero carbon and greenhouse gas emissions approach to tackling climate change. Subsequently, Dasgupta's [11] towering report that centers all business activity within an environmental context has helped to broaden the debate to include a nature positive approach to business finance to help manage the Earth's biosphere. This is proposed by the Taskforce for Nature-related Financial Disclosures and many of the World's Central Bankers (Network of Central Bankers and Supervisors for Greening the Financial System [28] in response to the United Nations [46] call for the protection of 30% of land and water by 2030 (the so-called â30 by 30â goal)
Accrual-based and real earnings management and political connections
This study examines whether the trade-off between real and accrual-based management strategies differs between firms with and without political connections. We argue that politically connected firms are more likely to substitute real earnings management for accrual-based earnings management than non-connected firms. Although real earnings management is more costly, we expect that politically connected firms prefer this strategy because of its higher secrecy and potential to mask political favors. Using a unique panel data set of 5493 publicly traded firms in 30 countries, our results show that politically connected firms are more likely to substitute real earnings management strategies for accrual-based earnings management strategies than non-connected firms. We also find that when public monitoring and, therefore, the risk of detection increases, politically connected firms are more likely to resort to less detectable real earnings management strategies. Our finding that political connections play a significant role in the choice between accrual-based and real earnings management strategies suggests that focusing only on accrual-based measurements underestimates the total earnings management activities of politically connected firms
THE PERFORMANCE OF BANKS IN THE MENA REGION DURING THE GLOBAL FINANCIAL CRISIS
This paper examines the impact of the global financial crisis on the banking sector in the Middle East and North Africa (MENA) region, as well as the main determinants of the profitability of both domestic and foreign banks. The empirical findings suggest that during the crisis the former outperformed the latter in that region. As for the determinants of profitability, size does not appear to play a role, whilst the liquidity ratio and net interest revenues seem to have a negative and positive effect respectively; GDP has a positive effect in the case of domestic banks