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Literature review and research opportunities on credibility of corporate social responsibility reporting 企业社会责任报告可信度的文献综述与研究机会
IF 0.8 Q4 BUSINESS Pub Date : 2017-03-27 DOI: 10.1108/AJB-04-2016-0013
John L. Abernathy, Chad M. Stefaniak, Anne M. Wilkins, Jacqueline C. Olson
Purpose - The purpose of this paper is to identify and synthesize the current academic literature on emerging trends to increase CSR reporting credibility. Design/methodology/approach - This paper synthesizes literature on emerging trends to increase CSR reporting credibility from the past ten years, focusing mainly on the most recent five years, by searching ABI/Inform and Business Source Premier for academic papers containing the following keywords: Corporate Social Responsibility (CSR) Reporting, CSR, Sustainability, and Social Responsibility. Findings - This paper identifies four relatively unexplored trends to improve CSR credibility: CSR assurance, integrated reporting, CSR reporting standards, and CSR regulation. Research limitations/implications - This study will be of use to academic researchers to facilitate research and discussion on the credibility of CSR disclosure. Practical implications - Regulatory agencies, boards of directors, customers, suppliers, and investors are increasingly using CSR information for decision making; therefore the credibility of the information is important. Originality/value - Much of the extant research investigating CSR has focused on financial performance metrics. The study synthesizes the recent CSR literature, including some interdisciplinary research focusing on emerging accountability trends in reporting. The authors identify several research opportunities that will enhance the authors’ understanding of CSR reporting.
目的-本文的目的是识别和综合当前关于提高企业社会责任报告可信度的新兴趋势的学术文献。设计/方法/方法-本文通过搜索ABI/Inform和Business Source Premier,综合了过去十年来关于提高企业社会责任报告可信度的新兴趋势的文献,主要关注最近五年的学术论文,其中包含以下关键词:企业社会责任(CSR)报告,CSR,可持续性和社会责任。研究结果-本文确定了提高企业社会责任可信度的四个相对未被探索的趋势:企业社会责任保证、综合报告、企业社会责任报告标准和企业社会责任监管。研究局限/启示-本研究将有助于学术研究人员促进对企业社会责任披露可信度的研究和讨论。实际影响——监管机构、董事会、客户、供应商和投资者越来越多地将企业社会责任信息用于决策;因此,信息的可信度很重要。原创性/价值——现有的许多关于企业社会责任的研究都集中在财务绩效指标上。该研究综合了最近的CSR文献,包括一些跨学科研究,重点关注报告中出现的问责趋势。作者确定了几个研究机会,将加强作者对企业社会责任报告的理解。
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引用次数: 33
The greening of organizational culture: revisited fifteen years later 组织文化的绿色化:15年后重新审视
IF 0.8 Q4 BUSINESS Pub Date : 2016-11-30 DOI: 10.1108/AJB-04-2016-0011
T. Porter, V. C. Gallagher, Diane Lawong
Purpose - Organizations have viewed sustainability as a societal problem and unrelated to business. To recognize sustainability as an organizational issue requires companies to deal with the challenge of transforming into environmentally sustainable enterprises. This requires institutions to align mission statements with values. The purpose of this paper is to replicate previous research in sustainability and the cultural facets which impact the process. Design/methodology/approach - A qualitative case study method was used to analyze 25 organizations within the US Midwest with various contexts to determine how their respective cultures impacted their change initiatives. Specifically, the authors spoke to sustainability change agents with regard to their leadership and culture, and the factors that are conducive to (or barriers to) implementing sustainability initiatives. Findings - The original study demonstrated the presence of seven contextual conditions which are important in the process of imbedding sustainability within the institution. This research found the same dimensions to be present; however, they manifested differently 15 years later. Practical implications - The original research offered a somewhat dark picture of the sustainability change initiatives within organizations. The current study however; offers a much more positive perspective which demonstrates organizations appear to have progressed with regard to sustainability. Originality/value - This is a replication study whereby we discovered similar themes as to the nature of contextual factors that can hinder or advance sustainability initiatives; however, the findings 15 years later show a marked difference in the current state of affairs and the ability to implement sustainability initiatives.
目的-组织将可持续发展视为一个社会问题,与业务无关。要认识到可持续发展是一个组织问题,就需要公司应对转变为环境可持续企业的挑战。这就要求机构将使命宣言与价值观结合起来。本文的目的是复制以前在可持续性和影响这一过程的文化方面的研究。设计/方法论/方法-采用定性案例研究方法分析了美国中西部地区25家具有不同背景的组织,以确定其各自的文化如何影响其变革计划。具体来说,作者谈到了可持续发展变革的推动者,涉及他们的领导和文化,以及有利于(或阻碍)实施可持续发展倡议的因素。研究结果-最初的研究证明了七个背景条件的存在,这些条件在机构内嵌入可持续性的过程中很重要。这项研究发现了同样的维度;然而,15年后,它们的表现有所不同。实际意义-最初的研究提供了一个有点黑暗的可持续发展变化倡议的组织。然而,目前的研究;提供了一个更积极的观点,表明组织似乎在可持续性方面取得了进展。原创性/价值-这是一项重复性研究,我们在其中发现了类似的主题,即可能阻碍或促进可持续发展举措的背景因素的性质;然而,15年后的调查结果显示,目前的情况和执行可持续发展倡议的能力有明显的不同。
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引用次数: 23
Spatial relativism in multinationality and performance research 多国性与绩效研究中的空间相对主义
IF 0.8 Q4 BUSINESS Pub Date : 2016-11-30 DOI: 10.1108/AJB-02-2016-0003
K. Kelley
Purpose The purpose of this paper is to explore the largely marginalized role of distance or “space” in multinationality and performance (MP) research. It argues that scholars should adopt a more fine-grained, or relativistic approach when studying the link between MP and that conceptualizing multinationality as space may facilitate this. Design/methodology/approach By treating space as though it is liability forming, the paper examines frequently contentious research issues in domain of MP research such as: how is multinationality measured; what are the moderating variables; and what is the performance metric appropriate, as a framework to help illustrate the relativistic nature of MP studies. Findings The paper illustrates that the choice of distance dimensions, along which the “space” is formed, alters the relationship between MP. Furthermore, this relationship is relative to moderating variables that include among others: when the space is measured (time), point of reference and perspective, the firm’s resources (e.g. human and technological capabilities), and the performance measure considered. Originality/value This paper suggests new avenues and approaches toward exploring the effects of multinationality to improve methodological rigor. It identifies several important methodological shortcomings of current and previous research and suggests areas in which current research gaps must be filled to advance this body of knowledge. It introduces the notion of spatial relativism as a concept that will facilitate more fine-grained and contextualized studies.
本文的目的是探讨距离或“空间”在多国性与绩效(MP)研究中被边缘化的作用。它认为,学者们在研究MP与将多国性概念化为空间之间的联系时,应该采用一种更细致的或相对的方法。通过将空间视为责任形成,本文探讨了MP研究领域中经常有争议的研究问题,例如:如何测量多国性;什么是调节变量?以及什么是合适的绩效指标,作为一个框架来帮助说明MP研究的相对论性。研究结果表明,“空间”形成的距离维度的选择改变了MP之间的关系。此外,这种关系与调节变量有关,这些变量包括:测量空间(时间)的时间、参考点和视角、公司的资源(例如人力和技术能力)以及所考虑的绩效指标。本文提出了探索多国性影响的新途径和方法,以提高方法的严谨性。它指出了当前和以前研究的几个重要的方法缺陷,并提出了必须填补当前研究空白以推进这一知识体系的领域。它引入了空间相对主义的概念,作为一个概念,将促进更细粒度和情境化的研究。
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引用次数: 0
Benchmarking mutual fund alpha 基准共同基金alpha
IF 0.8 Q4 BUSINESS Pub Date : 2016-11-30 DOI: 10.1108/AJB-01-2016-0001
Qiang Bu
Purpose - The standard market models assume that all investors are rational with the same level of risk aversion, whereas investors in the real world are neither rational nor homogeneous. This contrast makes these models inappropriate for evaluating manager skill. The purpose of this paper is to attempt to bridge the gap between model assumption and fund investment practice. Design/methodology/approach - This study proposes a series of modified models using the excess return of peer funds to estimate fund alpha. In these models, the market excess return in the standard market models is replaced with the average excess return of bootstrapped funds. In addition, the author examines the reasons for the difference between the modified models and the standard models. Findings - The modified models better explain the variation of fund returns, and they exhibit that a considerably higher percentage of funds can earn positive alpha, thus the skill of fund managers is underestimated based on the standard market models. Originality/value - The proposed models provide a more reliable method for investors to identify skilled fund managers, and they can also serve as an objective benchmark in evaluating fund performance and in designing manager compensation packages.
目的——标准市场模型假设所有投资者都是理性的,风险厌恶程度相同,而现实世界中的投资者既不理性也不同质。这种对比使得这些模型不适合用于评估管理者的技能。本文的目的是试图弥合模型假设与基金投资实践之间的差距。设计/方法/方法-本研究提出了一系列修正模型,使用同行基金的超额回报来估计基金alpha。在这些模型中,将标准市场模型中的市场超额收益替换为自举基金的平均超额收益。此外,本文还分析了修正模型与标准模型存在差异的原因。修正后的模型更好地解释了基金收益的变化,它们表明相当高比例的基金可以获得正alpha,因此基金经理的技能被低估了基于标准市场模型。原创性/价值-提出的模型为投资者识别熟练的基金经理提供了更可靠的方法,也可以作为评估基金业绩和设计基金经理薪酬方案的客观基准。
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引用次数: 0
Supplier selection in small- and medium-sized firms: The case of the US textile and apparel industry 中小企业的供应商选择:以美国纺织服装业为例
IF 0.8 Q4 BUSINESS Pub Date : 2016-11-30 DOI: 10.1108/AJB-12-2015-0037
Jin Su, Vidyaranya B. Gargeya
Purpose - The purpose of this paper is to empirically examine supplier selection among small- and medium-sized firms in the US textile and apparel industry. For small- and medium-sized firms, one powerful method of improving the firm’s competitiveness in the dynamic business environment is through strategic approach of supplier selection, which emphasizes supplier’s contributions to the total product and to overall customer satisfaction. Design/methodology/approach - Empirical survey-based research methodology was implemented and data were collected from small and medium firms in textile and apparel business in North Carolina, South Carolina, Georgia, California, and New York which are the major areas of the US textile and apparel industry. Findings - This study demonstrates the supplier selection practices of the small- and medium-sized firms in the US textile and apparel industry and their perceptions of supply market and supplier evaluation systems. Results indicate that supplier selection criteria impact firm performance in different ways. Small- and medium-sized firms carry out supplier selection based on product quality, supplier responsiveness, and strategic consideration which positively impact overall customer service level and overall customer satisfaction. Originality/value - This paper focuses on supply chain management practices, specifically the supplier selection issue in small- and medium-sized firms in the textile and apparel industry.
目的-本文的目的是实证研究供应商选择在美国纺织和服装行业的中小型企业。对于中小型企业来说,在动态的商业环境中提高企业竞争力的一个有效方法是通过供应商选择的战略方法,它强调供应商对总产品和整体客户满意度的贡献。设计/方法/方法-采用基于实证调查的研究方法,并从美国纺织和服装业的主要地区北卡罗莱纳州,南卡罗来纳州,佐治亚州,加利福尼亚州和纽约州的纺织和服装业中小型公司收集数据。本研究展示了美国纺织和服装行业中小企业的供应商选择实践,以及他们对供应市场和供应商评估系统的看法。结果表明,供应商选择标准以不同的方式影响企业绩效。中小企业根据产品质量、供应商响应能力和战略考虑进行供应商选择,这对整体客户服务水平和整体客户满意度产生积极影响。原创性/价值-本文关注供应链管理实践,特别是纺织服装行业中小企业的供应商选择问题。
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引用次数: 20
Liabilities of regionalization and the emerging market firm 区域化负债与新兴市场企业
IF 0.8 Q4 BUSINESS Pub Date : 2016-11-18 DOI: 10.1108/AJB-11-2015-0031
K. Kelley
Purpose The purpose of this paper is to revisit the causal relationships of the liabilities of inter-regional foreignness to show that the process of regionalization itself has affected firms’ strategic capabilities and focus. The constraints of these regions, a consequence of regionalization that limits the strategic options of multinational enterprises, are known as the liabilities of regionalization (LOR). Design/methodology/approach This study reviews previous literature and uses a mixture of theory and inference to make propositions regarding the existence of liabilities attributable to the regionalization process. The propositions discuss macro-level, and industry and firm-level strategic impact on firms of Triad and non-Triad regions. Findings It is argued specific emerging market attributes, in relation to the developed Triad regions, will influence strategic focus of those emerging market firms. This in turn will also influence global strategic behavior and capabilities in the future, creating additional LOR in some cases and reducing them in others. Originality/value Previous scholars have focused on the liabilities of inter-regional and regional foreignness and its effect on international diversification strategy both upstream and downstream. This study attempts to explain the formation of regions that shape the FSAs that limit global strategic diversification, which are characterized as the LOR. More importantly, it discusses them from perspective of emerging market firms, which on the outside of the Triad regions, may form their own regions and FSAs.
本文的目的是重新审视区域间涉外责任的因果关系,以表明区域化过程本身已经影响了企业的战略能力和重点。这些地区的约束是区域化限制跨国企业战略选择的结果,被称为区域化的负债。设计/方法/方法本研究回顾了以往的文献,并使用理论和推理的混合来提出关于区域化过程中存在责任的命题。这些命题讨论了宏观层面、行业和企业层面的战略影响对黑社会和非黑社会地区企业的影响。研究结果认为,与发达的三位一体地区相关的特定新兴市场属性将影响这些新兴市场公司的战略重点。这反过来也将影响未来的全球战略行为和能力,在某些情况下产生额外的LOR,在其他情况下减少它们。原创性/价值以往的学者主要关注区域间和区域异质的负债及其对上下游国际多元化战略的影响。本研究试图解释区域的形成,这些区域塑造了限制全球战略多样化的金融服务体系,其特征为LOR。更重要的是,它从新兴市场公司的角度来讨论这些问题,这些新兴市场公司在三角区域之外,可能会形成自己的区域和金融服务机构。
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引用次数: 0
Does managerial myopia explain Bowman's Paradox? 管理短视能解释鲍曼悖论吗?
IF 0.8 Q4 BUSINESS Pub Date : 2016-11-18 DOI: 10.1108/AJB-04-2015-0008
Anthony Holder, A. Petkevich, G. S. Moore
Purpose - This paper investigates if Bowman’s Paradox (negative association between risk and return) is caused by managerial myopia. It also attempts to disentangle whether results are more consistent with one or more potential explanations. Design/methodology/approach - The paper uses univariate statistics and OLS regressions. Empirically examines the relationship between four risk and return proxies, across a wide ranging time period and utilizing a number of model specifications. Results hold after using three-way clustered errors and using a more robust rolling five year, fixed regression methodology measure. Findings - Confirms the existence of the Paradox. Also documents that the association between risk and return is positive in “winner” firms and negative in “loser” firms. Upon further analysis, the earlier negative risk-return relationship is found to entirely be due to the volatility of the (short term) income statement component of the performance terms. Results imply that executives of winner (loser) firms are less (more) likely to manage earnings or engage in other value destroying activities. Research limitations/implications - The study is confined by the typical archival study limitations; including potential endogeneity, selection biases and generalizability of the results. Practical implications - Anecdotal evidence indicates that the business community makes extensive use of these performance measures. These performance measures are also pervasive in academic research. Given the importance of controlling for both managerial and firm performance, a good performance proxy is quintessential. Originality/value - Although over 30 years have passed since Bowman (1980) first observed the negative correlation, to date, no consensus explanation exists. Findings suggest that Bowman’s Paradox, is potentially a manifestation of managerial myopia. Thus, this result contributes to several existing research streams.
目的:研究鲍曼悖论(风险与回报负相关)是否由管理短视引起。它还试图理清结果是否与一个或多个潜在的解释更一致。设计/方法/方法-本文使用单变量统计和OLS回归。经验性地考察了四种风险和回报代理之间的关系,跨越了广泛的时间段,并利用了许多模型规范。在使用三向聚类误差和使用更稳健的滚动五年固定回归方法测量后,结果保持不变。发现-证实了悖论的存在。也证明了风险和回报之间的关联在“赢家”公司中是正的,在“输家”公司中是负的。经过进一步分析,发现早期的负风险-收益关系完全是由于业绩条款的(短期)损益表组成部分的波动性。结果表明,赢家(输家)公司的高管更不可能管理收益或从事其他破坏价值的活动。研究局限/启示-本研究受到典型档案研究局限的限制;包括潜在的内生性,选择偏差和结果的普遍性。实际影响-轶事证据表明,企业界广泛使用这些绩效指标。这些绩效指标在学术研究中也很普遍。考虑到控制管理和公司绩效的重要性,一个好的绩效代理是必不可少的。原创性/价值——虽然自Bowman(1980)首次观察到负相关已经过去了30多年,但到目前为止,还没有一致的解释。研究结果表明,鲍曼悖论可能是管理短视的一种表现。因此,这一结果有助于几个现有的研究流。
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引用次数: 12
Changes in information environment and merger announcements 信息环境的变化与并购公告
IF 0.8 Q4 BUSINESS Pub Date : 2016-11-18 DOI: 10.1108/AJB-11-2015-0035
Bhanu Balasubramnian, Kathleen P. Fuller, Tanja Steigner
Purpose The purpose of this paper is to examine the impact of regulatory changes by the US Securities and Exchange Commission in 2000 on private information leakage prior to merger announcements. Design/methodology/approach Using a sample of 5,045 merger announcements between 1990 and 2008, the authors examine differences in information leakage between the pre- and post-regulation period merger announcements for acquirers using regression analysis. Findings The results suggest that regulatory changes have been effective in preventing private information leakage in merger announcements for large- and medium-sized firms, for high-tech firms, and for stock deals. The authors find that abnormal trading volume due to differences in information quality is reduced post-regulation for stock deals, high-tech firms, large- and medium-sized bidders, indicating less leakage of information after the new regulations. The authors find higher announcement returns post-regulation for the entire sample and for all subsamples except stock deals, small firms, and public targets. Higher announcement returns indicate that merger announcements are a greater surprise to the market due to a reduction in leaked private information after the regulatory changes. Practical implications The results have implications on future rule changes, on refinements of insider trading rules, regulation fair disclosure, and regulation M-A. The authors leave for future research why certain types of firms or deals are not impacted by regulatory changes. Originality/value Examine the effect of changes in information environment on merger announcements for acquirers because the impact likely has greater significance on acquirers than that on targets. Past studies have examined only targets.
本文的目的是考察2000年美国证券交易委员会的监管变化对合并公告前私人信息泄露的影响。以1990年至2008年间的5045份并购公告为样本,作者使用回归分析方法检验了监管前和监管后并购方并购公告之间信息泄露的差异。研究结果表明,在大中型企业、高科技企业和股票交易的合并公告中,监管变化对防止私人信息泄露是有效的。研究发现,股票交易、高新技术企业、大中型竞标者因信息质量差异导致的异常交易量在新规实施后有所减少,表明新规实施后信息泄露有所减少。作者发现,除了股票交易、小公司和公共目标之外,整个样本和所有子样本在监管后的公告回报率都更高。较高的公告回报率表明,由于监管变化后泄露的私人信息减少,合并公告对市场的影响更大。研究结果对未来的规则变化、内幕交易规则的完善、公平披露监管和并购监管具有启示意义。为什么某些类型的公司或交易不受监管变化的影响,作者留给未来的研究。考察信息环境变化对收购方并购公告的影响,因为信息环境变化对收购方的影响可能比对目标方的影响更大。过去的研究只检查了目标。
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引用次数: 3
Have changes in business practices and reporting standards changed the taxonomy of financial ratios 商业惯例和报告标准的变化是否改变了财务比率的分类
IF 0.8 Q4 BUSINESS Pub Date : 2016-08-08 DOI: 10.1108/AJB-10-2015-0030
T. Zeller, John Kostolansky, Michail Bozoudis
Purpose – Prior research established a seven dimensional taxonomy of financial ratios. The purpose of this paper is to identify the extent to which the previously identified relationships have changed, and if appropriate, to establish an entirely new taxonomy of manufacturing industry financial ratios. Design/methodology/approach – The authors used principle component analysis (PCA) to identify factor patterns for 58 financial ratios over the ten-year period 2004-2013. The validity of employing PCA was confirmed using the Kaiser-Meyer-Olkin measure of sampling adequacy and Bartlett’s test of sphericity. Findings – This study identified four additional financial analysis factors beyond the seven established by prior research. Notably, a separate cash flow factor did not surface as was the case in earlier work but an entirely new factor (current position) was identified. Research limitations/implications – This paper leaves to future research to establish the precise causes for the changes to the taxonomy o...
目的-先前的研究建立了财务比率的七个维度分类。本文的目的是确定之前确定的关系已经改变的程度,如果合适的话,建立一个全新的制造业财务比率分类法。设计/方法/方法-作者使用主成分分析(PCA)来识别2004-2013年十年间58个财务比率的因素模式。使用Kaiser-Meyer-Olkin抽样充分性测量和Bartlett球形检验来证实主成分分析的有效性。研究结果-本研究确定了四个额外的财务分析因素,超出了先前研究确定的七个因素。值得注意的是,没有像早期工作那样出现单独的现金流量因素,而是确定了一个全新的因素(当前位置)。研究的局限性/启示-本文留给未来的研究,以建立准确的原因变化的分类…
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引用次数: 7
The China Triangle: Latin America ' s China Boom and the Fate of the Washington Consensus 中国三角:拉丁美洲的中国繁荣和华盛顿共识的命运
IF 0.8 Q4 BUSINESS Pub Date : 2016-08-08 DOI: 10.1108/AJB-06-2016-0019
M. Pisani
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引用次数: 9
期刊
American Journal of Business
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