Government transparency and firm‐level operational efficiency

Hope, Ole‐Kristian; Jiang, Shushu; Vyas, Dushyantkumar

doi:10.1111/jbfa.12563

Cited by 21 publications

(8 citation statements)

References 32 publications

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“…The effect of this correlation varies to a great extent based on foreign investors' own private information and their flexibility in responding swiftly to change. Moreover, a research carried out by Hope et al (2021) points in the same direction, confirming that there is a positive association between government transparency and operational efficiency of firms in emerging markets.…”

Section: Effectiveness and Transparency Of Open Government Datamentioning

confidence: 56%

Using open government data for economic development

Petrović¹,

Milić²,

Prlinčević³

2022

EurJ Appl Econ

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Publishing of open government data brings enormous benefits both to providers and consumers. On the one hand, governments increase their transparency and enable development of smarter and richer solutions, while on the other hand it enables various stakeholders to extract new information and create value from them. In this paper we investigate applicability of open government data for economic development and creation of value from published data. Different aspects of open government data consumption are explored, such as effectiveness, transparency and quality-and how they interrelate. They are of great importance for valorisation of open government data, and we will show that leveraging economic value of OGD must be accompanied by governments' ability to make high quality OGD available.

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Section: Effectiveness and Transparency Of Open Government Datamentioning

confidence: 56%

Using open government data for economic development

Petrović¹,

Milić²,

Prlinčević³

2022

EurJ Appl Econ

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show abstract

“…Developed economies are usually equipped with strong legal, social and economic institutions (e.g. auditing standards, secondary capital markets and information intermediaries such as analysts) that create public trust in firm discloses (Hope et al, 2022). Firms in developed economies are less constrained under the COVID-19 pandemic, as strong institutions protect them from the negative impacts of the COVID-19 pandemic with subsidies, interest-free loans and unemployment benefits.…”

Section: Introductionmentioning

confidence: 99%

“…Society bears the layoff costs in developed economies. By comparison, poorly functioning underdeveloped institutions called "institutional void" are common in emerging economies (Kingsley and Graham, 2017;Hope et al, 2022). Local firms in emerging economies often have no choice but to internalize deficient local institutions and market functions to facilitate business transactions using relation-based governance (Khanna and Palepu, 1997;Manolova et al, 2007).…”

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

“…Society bears the layoff costs in developed economies. By comparison, poorly functioning underdeveloped institutions called “institutional void” are common in emerging economies (Kingsley and Graham, 2017; Hope et al. , 2022).…”

Section: Introductionmentioning

confidence: 99%

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Are sustainable firms more profitable during COVID-19? Recent global evidence of firms in developed and emerging economies

Jing

Khan²

2022

ARA

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PurposeThis paper investigates whether sustainability performance (SP) protects financial performance (FP) for firms in both developed and emerging economies during the COVID-19-induced economic downturn.Design/methodology/approachUsing a recent sample of firms in 34 countries between 2003 and 2021, the authors employ ordinary least squares regressions, moderations and the Heckman two-step method to test the hypotheses.FindingsFirms with strong SP have higher FP in developed and emerging economies in the upcoming year. During the COVID-19 crisis in 2020–2021, the impact of sustainability on FP is pronounced in developed but not in emerging economies. Furthermore, cross-listings expose firms in emerging economies to high-standard institutional mechanisms in developed economies. Thus, sustainable firms in emerging economies cross-listed on European stock exchanges are more profitable.Practical implicationsFor regulators and standard setters, the global-level comparative analysis helps them find solutions that may assist firms in improving SP globally (e.g. mandatory reporting) and enduring crises resiliently. For institutional investors, the study reveals the relatively different impact of sustainability risk for firms in developed and emerging economies. For practitioners and private sector firms, this study contributes to the dialogue on what makes firms more resilient in COVID-19. Although COVID-19 might be temporary, the lessons learned could protect firms from future crises.Originality/valueThe authors contribute to the contingency perspective between sustainability and financial performance by providing recent empirical evidence in a global setting during the COVID-19 pandemic. The authors demonstrate how different external institutional mechanisms (rule-based governance and relation-based governance) and cross-listing affect the SP-FP relationship during a crisis. The authors extend the knowledge in crisis management literature with a comparative study and fill the research gap on how SP affects FP for firms in emerging economies compared to developed economies.

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Do responsible practices lead to higher firm productivity? Evidence from Europe

Piserà,

Gandullia,

Girardone

2024

Int. J Fin Econ

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This study examines the impact of corporate social responsibility (CSR) in its environmental, social and governance (ESG) dimensions on firm productivity. We analyze a data set comprising 448 non‐financial firms operating in 15 European countries during the period 2002–2018 and find compelling evidence indicating that both the overall ESG scores and their individual sub‐pillars, are positively associated with total factor productivity (TFP). To ensure the robustness of our findings, we employ multiple analytical approaches to address potential endogeneity and selection biases. Our evidence demonstrates that the link between ESG and TFP link becomes more pronounced during economic slowdowns, particularly in the aftermath of the financial crisis. Furthermore, our investigation reveals that firms' environmental performance plays a pivotal role in driving this relationship. To validate this outcome, we employ a quasi‐natural experiment, focused on the adoption of the international climate change treaty, the 2015 ‘Paris Agreement’. Overall, our results offer valuable insights for policymakers and regulators and confirm that involvement in sustainability practices within the non‐financial sector not only yields societal benefits but also bolsters firm‐level productivity.

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Government transparency and firm‐level operational efficiency

Cited by 21 publications

References 32 publications

Using open government data for economic development

Using open government data for economic development

Are sustainable firms more profitable during COVID-19? Recent global evidence of firms in developed and emerging economies

Do responsible practices lead to higher firm productivity? Evidence from Europe

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