Md Aslam Mia, Noor Hazlina Ahmad, Hasliza Abdul Halim
{"title":"The impact of employee turnover on the financial performance of microfinance institutions: A global evidence","authors":"Md Aslam Mia, Noor Hazlina Ahmad, Hasliza Abdul Halim","doi":"10.1111/basr.12291","DOIUrl":"10.1111/basr.12291","url":null,"abstract":"<p>Microfinance is a preferred development tool in many developing countries around the world; however, the industry has been facing many challenges in recent years, including the attainment of financial sustainability. Therefore, this study is aimed at investigating the effect of employee turnover on the financial performance of microfinance institutions (MFIs). The study utilized unbalanced panel data of 1561 unique MFIs from 2010 to 2018. The data were then analyzed by conventional econometric techniques such as the pooled ordinary least squares, random effects model, fixed effects model, Hausman–Taylor, and the two-step system generalized method of moments. Considering the linear relationship, it was discovered that employee turnover has a negative effect on the financial performance of MFIs. However, this relationship is dependent on the proxies of financial performance, legal status, location, profit orientation of the MFIs (for subsample analysis), and the technique(s)/model(s) employed in the analysis. Furthermore, the study did not find empirical evidence to support the quadratic relationship between employee turnover and the financial performance of MFIs. The outcome of this study advances important policy implications for concerned stakeholders.</p>","PeriodicalId":46747,"journal":{"name":"BUSINESS AND SOCIETY REVIEW","volume":"127 4","pages":"863-889"},"PeriodicalIF":1.9,"publicationDate":"2022-12-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49311532","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Jason Skirry, Katherina Pattit, Harry J. Van Buren III
{"title":"The ethical obligations of institutional investors: Managing moral complexity","authors":"Jason Skirry, Katherina Pattit, Harry J. Van Buren III","doi":"10.1111/basr.12289","DOIUrl":"10.1111/basr.12289","url":null,"abstract":"<p>Institutional investors control almost 60% of all assets under management worldwide and encompass a wide variety of organizations. Despite this reach, however, institutional investors have not received the normative scrutiny they merit beyond general discussions around their legally grounded fiduciary obligations to their beneficiaries. This paper offers a discussion of institutional investor ethical obligations in light of their specific attributes. We propose that the different characteristics of institutional investors and the diverse roles they play in the marketplace inform the scope of their activities, and, in turn, the different ways in which their basic ethical obligations can be fulfilled.</p>","PeriodicalId":46747,"journal":{"name":"BUSINESS AND SOCIETY REVIEW","volume":"127 4","pages":"757-778"},"PeriodicalIF":1.9,"publicationDate":"2022-12-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41352025","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"RETRACTED: Oksana Lomakina, Viktoriya Kookueva, Anna Makarenko, Redistribution of economic resources in the digital society. Bus Soc Rev. 2021; 126: 25–35. (https://doi.org/10.1111/basr.12220)","authors":"","doi":"10.1111/basr.12296","DOIUrl":"10.1111/basr.12296","url":null,"abstract":"<p><b>Retraction:</b> The above article, published online on 26 February 2021 in Wiley Online Library (https://onlinelibrary.wiley.com/doi/10.1111/basr.12220) has been retracted by agreement between the journal's Editor-in-Chief and Wiley Periodicals LLC. The retraction has been agreed following concerns regarding manipulation of the peer review and publishing process. Concerns were originally raised by a third party (Abalkina, <span>2022</span>). Further investigation by the publisher has found manipulation of the peer review process. The retraction has been agreed because the peer review of the article was compromised.</p>","PeriodicalId":46747,"journal":{"name":"BUSINESS AND SOCIETY REVIEW","volume":"127 4","pages":"963"},"PeriodicalIF":1.9,"publicationDate":"2022-12-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/basr.12296","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45468305","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Sahil Malik, Meghna Chhabra, Geetika Malik Chandra
{"title":"Understanding the impact of pandemics on society with a special focus on COVID-19","authors":"Sahil Malik, Meghna Chhabra, Geetika Malik Chandra","doi":"10.1111/basr.12288","DOIUrl":"10.1111/basr.12288","url":null,"abstract":"<p>The study aims to ascertain how different levels of society have been influenced by the impact of pandemics over the last many years. The study also determines the societal implications of the COVID-19 pandemic. The integrative literature survey method is adopted to extract the secondary data pertinent to the socio-economic effect of pandemics and COVID-19 on society. Primary data is collected to diagnose the impact of the COVID-19 pandemic and lockdown on employees (<i>N</i> = 210) working in the Indian organized sector. Findings of the study suggest that pandemics have been a cause of economic slowdown measured with a fall in gross domestic product (GDP) at the macro level. The reduced level of economic activity is found to be negatively related to an individual socio-economic status building their psychological distress. The descriptive analysis of the data reveals that although employees have managed their jobs and finances during COVID-19, they have experienced stress in their lives due to the pandemic. The study assimilates the pandemic effect using inductive reasoning to develop a COVID quadrilateral conceptual framework.</p>","PeriodicalId":46747,"journal":{"name":"BUSINESS AND SOCIETY REVIEW","volume":"127 4","pages":"835-861"},"PeriodicalIF":1.9,"publicationDate":"2022-12-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45167452","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Solomon George Zori, Michael H. C. Bakker, Francis Xavier D. Tuokuu, Jeremy Pare
{"title":"Market reaction to fossil fuel divestment announcements: Evidence from the United States","authors":"Solomon George Zori, Michael H. C. Bakker, Francis Xavier D. Tuokuu, Jeremy Pare","doi":"10.1111/basr.12295","DOIUrl":"10.1111/basr.12295","url":null,"abstract":"<p>Fossil fuel divestment movements have gained momentum since 2011, aimed at ending fossil fuel use and a move toward a cleaner, affordable, and sustainable energy system, for business and society. The present study investigates the direct impact of fossil fuel divestment announcements on stock prices of firms listed on the United States' stock exchanges. Using an event study and guided by the United Nation's sustainable development goals (SDGs), we test the effects of 116 divestments announcements between 2014 and 2019 on 51 publicly traded fossil fuel companies. Our results suggest that there is a negative effect of these announcements on fossil fuel firm stock prices. Also, we find that the type of fossil fuel firm (coal or oil and gas), the type of divestment (partial, coal only, or full), the timing of the announcement, and the size of the divesting investor have some explanatory power in relation to the (cumulative) abnormal returns following the divestment announcements. While the negative impact on stock prices is not surprising, the reaction from the divested firms after such large divestitures is not consistent with what may be expected, given past reactions to divestitures seeking to achieve different social goals. Given the SDGs, it seems clear why investors are divesting themselves from fossil fuel firms, but why has the reaction to the 116 divestments led to very little change in the way these publicly traded fossil fuel firms do business given their direct and growing impacts on society? We conclude the study with some suggestions for future research.</p>","PeriodicalId":46747,"journal":{"name":"BUSINESS AND SOCIETY REVIEW","volume":"127 4","pages":"939-960"},"PeriodicalIF":1.9,"publicationDate":"2022-12-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/basr.12295","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49503490","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Perceptions of corporate communication on debated social issues","authors":"Joshua M. Parcha","doi":"10.1111/basr.12293","DOIUrl":"10.1111/basr.12293","url":null,"abstract":"<p>Corporations are increasingly engaging in corporate social advocacy (CSA) by communicating on social issues that are controversial and contemporary and not necessarily linked to the corporations' business activities. The purpose of this study is to understand the desirability of CSA: Should corporations be communicating on these debated social issues, and to what extent? Using the online sampling platform Qualtrics, participants (<i>N</i> = 699, located in the United States and 18–35 years old) responded to a survey asking them how they perceived corporate communication on debated social issues. Findings indicate that participants view corporate communication on debated social issues as something that corporations should be engaging in, that this communication is helpful in solving these debated social issues, and that corporations should be the leaders in changing how society thinks about these debated social issues. At the same time, individuals do not trust the moral compass of corporations. Findings also show that certain corporate sectors (e.g., Health Care) should communicate more than other sectors (e.g., Chemicals), certain corporate characteristics (e.g., Reputation) matter more than other corporate characteristics (e.g., Size), and certain topics (e.g., Race Relations) should be discussed more than other topics (e.g., Confederate Flag Use). The implications, limitations, and directions for future research are also discussed.</p>","PeriodicalId":46747,"journal":{"name":"BUSINESS AND SOCIETY REVIEW","volume":"127 4","pages":"915-937"},"PeriodicalIF":1.9,"publicationDate":"2022-12-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47078722","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Soft regulation of women on boards: Evidence from Canada","authors":"Erin Oldford","doi":"10.1111/basr.12294","DOIUrl":"10.1111/basr.12294","url":null,"abstract":"<p>In this study, I examine the effectiveness of a national board gender diversity disclosure requirement, which is, arguably, on the “soft” end of the continuum of boardroom interventions. Using a panel dataset of 1847 hand-collected corporate disclosures from 2015 to 2018, I perform a post-event, historical trend analysis of the efficacy of Canada's 2014 intervention. I find evidence of real progress in the 4 years following intervention against several benchmarks. Specifically, improvements in critical mass are documented, with the proportion of boards with three of more women reaching 18.8% in 2018. Tokenism remains an issue with very little change in the number of Canadian boards with only one woman. Further analyses using a sorting methodology and panel regression analysis reveal that progress toward board gender diversity is achieved by those with board gender targets, board seat renewal policies, and written board diversity policies. In addition, I find that larger companies achieve greater progress and that progress is clustered by industry.</p>","PeriodicalId":46747,"journal":{"name":"BUSINESS AND SOCIETY REVIEW","volume":"127 4","pages":"779-808"},"PeriodicalIF":1.9,"publicationDate":"2022-12-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46292359","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Wisdom Wise Kwabla Pomegbe, Courage Simon Kofi Dogbe, Bylon Abeeku Bamfo, Prasad Siba Borah, Jewel Dela Novixoxo
{"title":"Social risk, green market orientation, entrepreneurial orientation, and new product performance among European Multinational Enterprises operating in developing economies","authors":"Wisdom Wise Kwabla Pomegbe, Courage Simon Kofi Dogbe, Bylon Abeeku Bamfo, Prasad Siba Borah, Jewel Dela Novixoxo","doi":"10.1111/basr.12292","DOIUrl":"10.1111/basr.12292","url":null,"abstract":"<p>The current study sought to assess the mediating role of green market orientation dimensions in the relationship between social risk and new product performance among European Multinational Enterprises (EMNEs). We also assessed the moderating role of entrepreneurial orientation in the relationship between green market orientation and new product performance. The study was based on primary data gathered from 317 EMNEs in Ghana. After various validity and reliability checks, ordinary least squares (OLS) analysis was performed to estimate the various relationships hypothesized in the study. The study finds that social risk has a negative effect on the success of EMNEs' new products. This negative effect is however nullified by the positive mediating effects of strategic green market orientation, tactical green market orientation and internal green market orientation. Entrepreneurial orientation also played a significant moderating effect in the relationship between green market orientation dimensions and EMNEs' new product performance. Based on this, theoretical and managerial contributions were made.</p>","PeriodicalId":46747,"journal":{"name":"BUSINESS AND SOCIETY REVIEW","volume":"127 4","pages":"891-914"},"PeriodicalIF":1.9,"publicationDate":"2022-12-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47100965","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Women's movements and female board representation","authors":"Michael Neureiter, CB Bhattacharya","doi":"10.1111/basr.12290","DOIUrl":"10.1111/basr.12290","url":null,"abstract":"<p>Scholars know relatively little about the potential impact of women's movements on gender diversity in the corporate world. We aim to fill this gap in the literature by providing the first empirical analysis of the relationship between women's movements and female representation on boards of directors. Drawing on political process theory, we argue that the strength of a women's movement is positively associated with its ability to increase the number of women on corporate boards. Moreover, we posit that the effect of women's movements on female board representation is moderated by corporate opportunity structures, that is, attributes of firms that make them more or less receptive to social movement activities. Three firm characteristics are particularly relevant in the context of boardroom gender diversity: reputation-seeking behavior, commitment to corporate social responsibility, and political orientation. Using firm-fixed effects models to analyze data on more than 2000 companies from 10 countries over a period of 10 years, we find support for three of our four hypotheses. Theoretical and practical implications are discussed.</p>","PeriodicalId":46747,"journal":{"name":"BUSINESS AND SOCIETY REVIEW","volume":"127 4","pages":"809-834"},"PeriodicalIF":1.9,"publicationDate":"2022-11-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/basr.12290","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45537128","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A resource-based view on the role of universities in supportive ecosystems for social entrepreneurs","authors":"Abel Diaz-Gonzalez, Nikolay A. Dentchev","doi":"10.1111/basr.12281","DOIUrl":"10.1111/basr.12281","url":null,"abstract":"<p>This paper investigates the role that universities play in supporting social entrepreneurs (SEs) across their ecosystem. Adopting the resource-based view (RBV) approach, we argue that universities attract, mobilize, and deploy multiple resources that benefit SEs through four main mechanisms (i.e., teaching, research, outreach, and the development of partnerships). We use a qualitative approach of 62 semi-structured interviews and 8 focus groups in Ecuador, Bolivia, and Colombia. Our contribution shows that employing different resources and engaging in supportive activities of universities towards SEs facilitate the development of university capabilities, such as an increased reputation, development of leadership skills for students and staff, and wider access to ecosystem resources that support other university activities related to teaching, research, and community outreach. The role that partnerships play in the development of these capabilities is fundamental, thanks to the different strategic alliances and mobilization of resources between universities and other actors while supporting SEs. This study contributes to our understanding of the role universities can play to intensify the nature of supportive ecosystems for SEs. This contribution is relevant not only to academics but also to practitioners, as this will shed light on the building, development, and scaling of a supportive ecosystem for SEs.</p>","PeriodicalId":46747,"journal":{"name":"BUSINESS AND SOCIETY REVIEW","volume":"127 3","pages":"537-590"},"PeriodicalIF":1.9,"publicationDate":"2022-09-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42001124","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}