The social value generation perspective of corporate performance measurement

Zhang, Ruopiao; Noronha, Carlos; Guan, Jieqi

doi:10.1108/srj-09-2019-0304

Cited by 7 publications

(9 citation statements)

References 79 publications

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“…Financial analysts also use earnings per share (EPS) to evaluate the performance of the company and the information is easy to access. In addition, EPS is also a commonly used measurement of financial performance in a number of CSR studies (Noronha et al , 2018; Zhang et al , 2020). Therefore, in this model, EPS is used as a proxy for financial performance.…”

Section: Resultsmentioning

confidence: 99%

“…Third, Jensen (2001) stated that the ST aims to maximize the value of a company, and the benefits of all the stakeholders must be considered when the company makes decisions. Apart from financial claimants, the ST also includes government, customers, employees and the society (Zhang et al , 2020). ST and LT are very closely inter-related.…”

Section: Literature Reviewmentioning

confidence: 99%

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Regretful or pressured? CSR reactions and disclosures of casinos in the aftermath of a natural disaster

Guan

Noronha

Sio

et al. 2022

SRJ

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Purpose Typhoon Hato attacked Macau in August 2017 and had caused fatalities and extensive damages. This study aims to analyze the reactions of the city’s six casinos after the natural disaster from the perspective of corporate social responsibility (CSR), with particular emphasis on finding out which stakeholders had they directed their support mostly. Design/methodology/approach Qualitative content analyses of press releases, social media, company reports and websites of the casinos in relation to the disaster and their CSR activities were conducted and examined in depth. Furthermore, triangulation of the qualitative data was achieved with quantitative data through a regression analysis. Findings It was found that most of the casinos’ activities were delivered in the forms of donations, rebuilding the community, supporting staffs and calling for volunteer work, thus largely targeting on the community and employees. Practical implications The study serves as a practical lesson for the casino operators to better plan and implement risk and reputational management and to better proliferate their socially responsible side of the gaming business to the public. It also helps casinos to ponder upon better crisis management methods so as to attain sustainability of the industry itself. Social implications The study explains the CSR activities of casinos, which are in a controversial industry, and attempts to explore why do they engage in CSR. It can be seen that the wrestle between social pressure and voluntarism will eventually institutionalize casinos and other controversial businesses in promoting more CSR in various aspects. Originality/value Combining some established institutional and socio-psychological theories, including the theory of planned behavior and the theory of regret regulation, the current work serves as an exploratory study to look into how and why Macau’s leading industry reacts in response to a natural disaster through CSR.

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Section: Resultsmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

Regretful or pressured? CSR reactions and disclosures of casinos in the aftermath of a natural disaster

Guan

Noronha

Sio

et al. 2022

SRJ

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“…A growing number of logistics studies have examined various topics in environmental sustainability and green supply chains management (Winter and Knemeyer, 2013), such as environmental management standards (Dellana et al, 2020;Zimon et al, 2022), waste management (Beza et al, 2014;Safdar et al, 2020) and green packaging (Centobelli et al, 2017). Meanwhile, other logistics studies have focused on carbon auditing of supply chains (McKinnon, 2009;Edwards et al, 2010Edwards et al, , 2011, decarbonisation of logistics (McKinnon, 2017) and carbon emission (Zhang et al, 2021a(Zhang et al, , 2021b. The extant research scope on environmental sustainability tends to be narrow in specific logistics sectors, such as climate impact on the port, carbon footprint in the transportation sector and environmentally sustainable freight transportation (Lirn et al, 2013;Evangelista et al, 2018;Centobelli et al, 2020a).…”

Section: Roles Of Logistics Service Providers In the Sustainability C...mentioning

confidence: 99%

Exploring environmental sustainability and green management practices: evidence from logistics service providers

Leung¹,

Guan²,

Lau³

2023

SAMPJ

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Purpose This study aims to examine management attitude and awareness towards green logistics, explores the external conditions that drive and restrict its positive behaviour, investigates the level of its adoption amongst logistics service providers (LSPs) and determines the major barriers affecting its application in the industry. Design/methodology/approach This research investigates the key decision-making process on green logistics attitude and behaviour through in-depth interviews and thematic analysis. Findings This study explores both institutional and individual-level attitudes/awareness. Then, the driving and restraining forces and the challenges that influence the industry’s adoption of green initiatives are determined. Finally, this study constructs a framework following a behavioural driving route with interactions among green “attitude”, sustainable “subjective norms”, “behavioural control” and “external context” factors. Practical implications Findings can enlighten the practitioners who are struggling to adopt the green or low-carbon practice and provide valuable insights and constructive advice to LSPs and their stakeholders. Social implications Findings can draw the government and policy-makers’ attention to provide necessary financial or non-financial support for the practitioners to improve their green operations. Originality/value To the best of the authors’ knowledge, this study is one of the first attempts to adopt the hybrid theoretical lens on the green behaviour of the logistics industry. New insights are added to existing environmental management literature with a wider understanding and deeper investigation of the decision-making on green logistics in the industry. The theoretical framework in this study can offer future applications to a relevant large-scale study.

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“…As a result, it is difficult for other firms to modify and allocate their resources to the most essential stakeholders, as well as to operate in a more sustainable manner (Grigoris, 2016). Furthermore, the CSP assessment process does not have any standardized rules and no disclosure of auditing method exists to validate environmental, social, and governance (ESG) assessment processes (Zhang et al , 2020). Moreover, there are inherent biases in terms of market capitalization size for those MCSPs mentioned above as many small and medium sized enterprises (SMEs) in China and other emerging economies do not issue standalone CSR reports to get through the CSP evaluation process [1] (Voinea and Fratostiteanu, 2018).…”

Section: Introductionmentioning

confidence: 99%

“…The latter is a deduction item because social costs reduce contributions to society . We argue that SCVPS has the attractiveness of innovativeness, standardization and practicability (Zhang et al ., 2020). Compared with other MCSPs, SCVPS simply employs data from financial statements and it condenses a lot of important information into a single number.…”

Section: Introductionmentioning

confidence: 99%

Corporate value creation, stock price synchronicity and firm value in China: implications for beyond

Zhang

Chu

Noronha

et al. 2021

JAEE

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PurposeThis study introduces Social Contribution Value per Share (SCVPS), an indicator devised by the Shanghai Stock Exchange (SSE), as an easy-to-interpret Measurement of Corporate Social Performance (MCSP) to the international research arena. The authors first explore the informativeness role of voluntary disclosure of SCVPS in the stock market. The authors then go one step further to demonstrate the relationship between corporate value creation quantified by SCVPS and firm value.Design/methodology/approachThe study takes a new perspective – a quasi-natural experiment of SCVPS disclosure in 2008 and uses a Propensity Score Matched Difference in Difference model (PSM-DiD) to investigate the impact of SCVPS disclosure policy on stock price synchronization and firm value. Through manually recalculating all the values of SCVPS and its components, this study enables us to further investigate the relationship between corporate value creation for various stakeholders and firm value.FindingsThis study reveals that voluntary disclosure of SCVPS can signal firm-specific information to the market and reduce noise in returns, thus affecting stock price synchronization. The findings further demonstrate that such firm-specific information has value relevance to firm performance. Moreover, the authors demonstrate that corporate value creation for different stakeholders measured by SCVPS can significantly affect firm value. The moderating effects of ownership structures and industry types are also investigated, and an endogeneity test confirms the robustness of the findings.Practical implicationsThis study argues that SCVPS offers an economically viable way for firms, including small-and-medium-sized enterprises, in emerging economies to disclose corporate value creation and provide the public with a direct understanding and appreciation of the values created by corporations for stakeholders.Originality/valueThe result makes contributions to the MCSP literature and explores the informativeness of SCVPS disclosure. Besides, this paper demonstrates that SCVPS offers a good setting to explore the effect of corporate value creation on firm performance in an emerging market.

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The social value generation perspective of corporate performance measurement

Cited by 7 publications

References 79 publications

Regretful or pressured? CSR reactions and disclosures of casinos in the aftermath of a natural disaster

Regretful or pressured? CSR reactions and disclosures of casinos in the aftermath of a natural disaster

Exploring environmental sustainability and green management practices: evidence from logistics service providers

Corporate value creation, stock price synchronicity and firm value in China: implications for beyond

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