Exploring the differential impact of environmental sustainability, operational efficiency, and corporate reputation on market valuation in high-tech-oriented firms

Kwon, He Boong; Lee, Jooh

doi:10.1016/j.ijpe.2019.01.034

Cited by 44 publications

(49 citation statements)

References 99 publications

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“…Operational efficiency, commonly conceived as the managerial capability of the firm to transform various inputs into outputs, can be interpreted as a repeatable pattern of good practices that enhance a firm’s value through better utilization of committed resources during value delivery processes (Kwon and Lee, 2019). Operational efficiency includes cost-based efficiency and time-based efficiency.…”

Section: Hypothesis Developmentmentioning

confidence: 99%

Operational efficiency effects of blockchain technology implementation in firms

Hasan

Deng

Islam

et al. 2020

RIBS

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Purpose The purpose of this study is to evaluate the effect of blockchain technology on firms’ operational efficiency in the context of China. Design/methodology/approach The authors use panel data for blockchain-based companies listed on stock exchanges in China (Shanghai, Shenzhen and Hong Kong) between 2014 and 2018. The operational efficiency of firms that deploy blockchain technology is evaluated using ordinary least squares and system generalized method of moments estimation. Findings Results suggest that companies’ current year performance exceeds the previous year performance because of blockchain deployment in firms’ operations. Firms with higher financial leverage and return on assets reap more benefits from blockchain. Larger and older firms benefit less from blockchain implementation. Stochastic frontier estimation suggests that, on average, firms attain a 57.76 per cent technical efficiency level, or, put differently, they operate 42.24 per cent below their maximum level of potential output. Originality/value Blockchain can benefit firms in terms of consensus, security and trust, spurring the evolution of a new form of organizational dynamics. This study explores the theory of transactional cost analysis under blockchain technology. In addition, this study hypothesizes and empirically demonstrates the significant impacts of blockchain technology on corporations’ operational efficiency, using audited, externally reported financial data. Industry professionals can reap benefits from this research by noticing the magnitude of changes in firms’ financial parameters attributable to blockchain adoption.

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Section: Hypothesis Developmentmentioning

confidence: 99%

Operational efficiency effects of blockchain technology implementation in firms

Hasan

Deng

Islam

et al. 2020

RIBS

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“…CE practices are one approach to achieving this global agenda (Prieto-Sandoval, Ormazabal, Jaca, & Viles, 2018). CE practices may drive industries to develop strategies for sustainable manufacturing practices (van Loon et al, 2018;Kwon & Lee, 2019;Centobelli, Cerchione, Chiaroni, Del Vecchio, & Urbinati, 2020). They can help minimize waste and build a resilient supply chain (SC) framework.…”

mentioning

confidence: 99%

Critical success factors for a circular economy: Implications for business strategy and the environment

et al. 2020

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Eco-efficiency and resource optimization for business strategy and the environment can be achieved by the circular economy (CE) practices in supply chains (SCs). The leather industry is a significant industrial contributor to the economic growth of some countries, but at the same time, it leads to tremendous environmental pollution. This research focuses on the identification and evaluation of critical success factors (CSFs) needed in the business strategy development of CE practices as well as to minimize environmental pollution in leather industry SCs. The CSFs are identified via a comprehensive literature review and are validated by experts' opinions. The validated CSFs are further analyzed using the best-worst method (BWM) and the decisionmaking trial and evaluation laboratory (DEMATEL). The BWM is used to identify the weights of the CSFs, and DEMATEL is used to determine the cause-effect relationship between the CSFs. The findings show that "leadership and top management commitment" is the most important CSF. Six CSFs are classified as causal towards CE practices: "leadership and top management commitment," "strong legislation towards CE practices," "ecological scarcity of resources," "knowledge of CE practices," "funding support for R&D from the government," and "competitor pressure on CE practices." The findings of this study can help managers in the leather industry implement CE practices in their existing SCs to minimize waste.

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“…In this set, aspects linked to the management of positive reputations and the use of sustainability discourse in the formulation of marketing strategies have been incorporated, corresponding to a growing portion of the current sustainability discussion (e.g. Kwon and Lee, 2019;Tollin and Christensen, 2019). Particularly relevant on that direction is the potential of negative events (including the disclosure of news about companies) to disseminate, possibly damaging the intangible capital of firms not directly responsible for an issue.…”

Section: Cross-insurance Mechanismmentioning

confidence: 99%

Can we have it all? Sustainability trade-offs and cross-insurance mechanisms in supply chains

Nunes

Park

Paiva

2020

IJOPM

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PurposeThe study investigates the interaction of sustainability dimensions in supply chains. Along with the analysis of sustainability trade-offs (i.e. prioritizing one dimension to the sacrifice of others), we develop and test the concept of cross-insurance mechanism (i.e. meeting of one sustainability goal possibly attenuating the effects of poor performance in another).Design/methodology/approachThrough the analysis of a 20-variation vignette-based experiment, we evaluate the effects of these issues on the corporate credibility (expertise and trustworthiness) of four tiers of a typical food supply chain: pesticide producers, farmers, companies from the food industry and retail chains.FindingsResults suggest that both sustainability trade-offs and cross-insurance mechanisms have different impacts across the chain. While pesticide producers (first tier) and retail chains (fourth tier) seem to respond better to a social trade-off, the social cross-insurance mechanism has shown to be particularly beneficial to companies from the food industry (third tier). Farmers (second tier), in turn, seem to be more sensitive to the economic cross-insurance mechanism.Originality/valueAlong with adding to the study of sustainability trade-offs in supply chain contexts, results suggest that the efficiency of the insurance mechanism is not conditional on the alignment among sustainability dimensions (i.e. social responsibility attenuating social irresponsibility). In this sense, empirical evidences support the development of the cross-insurance mechanism as an original concept.

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Exploring the differential impact of environmental sustainability, operational efficiency, and corporate reputation on market valuation in high-tech-oriented firms

Cited by 44 publications

References 99 publications

Operational efficiency effects of blockchain technology implementation in firms

Operational efficiency effects of blockchain technology implementation in firms

Critical success factors for a circular economy: Implications for business strategy and the environment

Can we have it all? Sustainability trade-offs and cross-insurance mechanisms in supply chains

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