An Exploratory Study Based on a Questionnaire Concerning Green and Sustainable Finance, Corporate Social Responsibility, and Performance: Evidence from the Romanian Business Environment

Popescu, Cristina; Popescu, Gheorghe H.

doi:10.3390/jrfm12040162

Cited by 123 publications

(65 citation statements)

References 66 publications

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“…This community behavior results in price distortion under existing information asymmetry [12]. Although many organizations and individuals operate at the level of social responsibility, recognizing the importance and advantages of social responsibility and of sustaining market efficiency in increasing profits, productivity, and performance [13], these tend to be sustainable by maintaining financial security or minimizing negative environmental impacts [14].…”

Section: Introductionmentioning

confidence: 99%

Can Stock Investor Sentiment Be Contagious in China?

Cai

Ran

2020

Sustainability

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This paper explores the impact of investor sentiment on financial markets in China by taking the quantile causality test. We find that government bond markets, gold markets, and foreign exchange markets are affected by stock investor sentiment, except for in the corporate bond market. In extreme situations, such as excessively optimistic or pessimistic sentiment, these markets will become more vulnerable to suffering from drastic fluctuations. On the contrary, the market return in government bonds, corporate bonds, and foreign exchange also has an influence on stock investor sentiment. Moreover, these links show various asymmetry due to the heterogeneity of different financial markets. Our results are consistent with the noise trader model, which shows the impact of investor sentiment on market returns. Hence, the authorities can sustain the stabilization of financial markets by reducing information asymmetry, guiding the rational sentiment of investors, and increasing effective regulations.Especially in certain extreme pessimistic situations, sentiment in the stock market can lead to drastic fluctuations in other financial markets [15,16], and the authorities cannot maintain market stability and continuity of development. In turn, the performance of these markets is also a remarkable barometer that leads stock investor sentiment to change [17]. Through information in different market environments, external shocks, not only make asset price fluctuate, but also result in stock investors overreacting, and this affects their investment expectations [18]. This bidirectional transmission is regarded as an important factor for the linkage among major financial markets [19]. Hence, investor sentiment plays an important role in the formation of financial market effectiveness. If investor sentiment cannot be reasonably guided, it will be difficult to suppress irrational trading and speculative bubbles and improve market efficiency.Compared with stock markets in developed countries, individual investors account for a large proportion of Chinese stock investors, which makes the whole market more emotional [20]. With a lack of social responsibility and an awareness of sustaining market efficiency, the individual Chinese investor has an underdeveloped investment education and, thus, they often show irrational investment behavior [21]. Hence, market fluctuation frequently happens, and it is difficult for investor sentiment to be properly guided. Not only do investors make irrational trades in the stock market, but they are also more likely to carry their emotions to other markets [22]. If investor sentiment in the stock market spreads to other markets and causes unexpected fluctuations in China, the pricing and operating efficiency of many financial markets will be damaged. As well as the stock market, the gold, bond, and foreign exchange markets are all financial markets with a large scale in China. If such emotional contagion exists in China, investors who excessively ignore the fundamentals will find it difficult to form th...

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Section: Introductionmentioning

confidence: 99%

Can Stock Investor Sentiment Be Contagious in China?

Cai

Ran

2020

Sustainability

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“…For Van Marrewijk and Were [37], corporate sustainability is seen as an approach of corporate social responsibility and refers to the interaction between people and organisations. Popescu and Popescu [38] argue that corporate social responsibility helps organisations to be sustainable, gives them financial security and, at the same time, reduces negative environmental impacts. This relationship between both constructs directly affects the ability of businesses to subsist and create long-term profits [5].…”

Section: Literature Reviewmentioning

confidence: 99%

“…In turn, the social dimension addresses the management of a business in relation to the reduction of social inequality, tending to improve the quality of life of all its stakeholders [38]. It also has to be taken into account which social issues can be included in the commercial strategy of the organisation, which translates to a positive image towards the community [51,52].…”

Section: Literature Reviewmentioning

confidence: 99%

“…Finally, the environmental dimension includes the initiatives of a business for managing operations in such a way that they reduce the environmental impacts derived from their production process [10]. To encourage this dimension, it is fundamental for corporations to work with green marketing strategies; this way it is guaranteed that their prices, products and processes will contribute to generate natural capital [38].…”

Section: Literature Reviewmentioning

confidence: 99%

“…Not only are modifications required in the processes and products, but also in corporate culture and the attitudes of workers and officers so that results are orientated towards the long term [9]. With this vision, [14] emphasizes the need to propose a renewed economic growth model of organisations which considers social and environmental responsibility in their strategic management. All this should encourage their intellectual capital, further strengthen the relationship with clients and, especially, improve the level of organisational commitment as well as giving a sense of belonging to their human resources.…”

Section: Introductionmentioning

confidence: 99%

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Study of Corporate Sustainability Dimensions in the Cooperatives of Ecuador

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This research has the aim of analysing corporate sustainability dimensions in the cooperativism of a developing country such as Ecuador by means of a valid and reliable measuring scale. These institutions, as part of the social economy, should be focused on a balance among the economic, social and environmental aspects, which are the central axis of corporate sustainability. The literature review and analysis led to the development of a research questionnaire that was applied to 2042 people, among them managers, employees and members of the Ecuadorian cooperatives. In order to validate the dimensional structure and consistency of the scale, an exploratory factorial analysis was performed, followed by a confirmatory analysis using structural equations. The results show a consistent measuring scale based on the traditional dimensions of corporate sustainability (economic, social and environmental) and also presenting a new dimension of corporate identity.

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Sustainable tourism development and competitiveness: The systematic literature review

Štreimikienė

Švagždienė

Jasinskas

et al. 2020

Sustainable Development

422

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Tourism is one of most perspective and dynamic businesses in the world. It is of great significance to plan and develop tourism purposefully and sustainably though the search for compromises between environmental, economic and social aims of society. The sustainable tourism development management has to retain high satisfaction degree of tourists' needs, assure significant experience for consumers, increasing their consciousness under issues of sustainability, and propagating practices of sustainable tourism among them. The significance of sustainable tourism sector development ambition is analysed in this paper through the lens of strengthening its competitiveness. The paper analyses scientific literature and seeks to discover the main forms and factors for the strengthening of the tourism competitiveness by implementing economic, social and environmental targets of tourism destination territories development. The broad systematic literature review provided for some interesting findings: The business participants are interested in the implementation of new technologies in tourism services having positive impact on environment and local communities; however, a lot of challenges exist how to change environment, increase of consumers' motivations for sustainable tourism services and to change their behaviour towards more sustainable one. The current Covid 19 outbreak and high risks of future pandemics have risen new challenges for sustainable tourism development. In this paper the main sustainable tourist development challenges are addressed and new insights for the strengthening of competitiveness of sustainable tourism destination are provided. The future research guidelines are set based on analysis performed. Highlights The systematic review of literature on sustainable tourism The trade‐off between sustainability and competitiveness The main challenges of sustainable tourist development New insights for the strengthening of competitiveness of sustainable tourism The future research guidelines are set based on analysis performed

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An Exploratory Study Based on a Questionnaire Concerning Green and Sustainable Finance, Corporate Social Responsibility, and Performance: Evidence from the Romanian Business Environment

Cited by 123 publications

References 66 publications

Can Stock Investor Sentiment Be Contagious in China?

Can Stock Investor Sentiment Be Contagious in China?

Study of Corporate Sustainability Dimensions in the Cooperatives of Ecuador

Sustainable tourism development and competitiveness: The systematic literature review

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