{"title":"Moral mentor of the company? Multifaceted influence of sustainable and responsible funds on corporate social responsibility disclosure in China","authors":"Weian Li, Yupei Liu, Lixiang Wang","doi":"10.1007/s10490-023-09900-w","DOIUrl":"10.1007/s10490-023-09900-w","url":null,"abstract":"<div><p>This study investigates whether sustainable and responsible investment (SRI) funds can serve as “social responsibility mentors” of focal firms in a Chinese context. On this basis, we posit that firms’ greenwashing motives may lead to a bias between information disclosure and actual performance in corporate social responsibility (CSR). Using data from China’s publicly listed companies, we find a U-shaped relationship between SRI fund ownership and CSR disclosure quality; intrinsic and extrinsic greenwashing motives can weaken this curvilinear relationship. Furthermore, we examine the influence mechanism and prove that SRI funds use social screening strategies as an indirect channel to affect CSR disclosure. This mechanism is also verified when we consider SRI funds’ number and investment portfolio. We conclude that SRI funds have a multifaceted influence on the CSR disclosure of focal firms, enriching the understanding of SRI funds and corporate sustainability in the capital markets of emerging economies.</p></div>","PeriodicalId":8474,"journal":{"name":"Asia Pacific Journal of Management","volume":"41 4","pages":"2213 - 2249"},"PeriodicalIF":4.9,"publicationDate":"2023-07-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49456796","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A bibliometric analysis and meta-analytic review of the impact of legitimacy on performance","authors":"Lingyu Zhong, Qianru Li, Rongwei Ren","doi":"10.1007/s10490-023-09906-4","DOIUrl":"10.1007/s10490-023-09906-4","url":null,"abstract":"<div><p>Based on institutional and resource-dependence perspectives, this article identified the research trends by using bibliometric analysis and explored whether and how legitimacy affects the enterprises' financial and non-financial performance by adopting a three-level random-effects meta-analytic model. A total of 15,696 observations included in 32 studies spanning 2004–2021 revealed a positive association between legitimacy and performance with a close to medium effect size. We found that enterprises in Asia and Africa were more inclined than those in North America and Europe to utilize legitimacy to direct performance. In addition, innovative industries and industries adopting innovative strategies significantly moderate the association between legitimacy and performance. Regarding different dimensions of legitimacy, the results demonstrated that general, regulatory, and environmental legitimacy play vital roles in moderating the legitimacy-performance relationship. This article is the first review to combine bibliometric analysis and meta-analysis to synthetically prove that legitimacy positively correlates with the performance of enterprises.</p></div>","PeriodicalId":8474,"journal":{"name":"Asia Pacific Journal of Management","volume":"41 4","pages":"2179 - 2212"},"PeriodicalIF":4.9,"publicationDate":"2023-07-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48616098","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Negative feedback change and employee performance: A goal-setting theory perspective","authors":"Feng Wei, Lixing Xu, Xiaoxiao Hu, Shih Cheng Chang, Yin Wu","doi":"10.1007/s10490-023-09908-2","DOIUrl":"10.1007/s10490-023-09908-2","url":null,"abstract":"<div><p>Although negative feedback is a dynamic phenomenon that changes over time, most research has taken a static approach to its analysis. In this study, we address this gap by applying goal-setting theory and taking a dynamic approach to negative feedback. Using a three-wave survey design, we examined whether, why, and when negative feedback change influences employees’ task performance. Our analysis of multi-source and multi-wave data (n = 127) shows that increase of negative feedback over time negatively influences employees’ task performance by reducing their goal commitment. We also find that the indirect negative effect is weakened when employees have a high growth mindset. These findings highlight the dynamic nature of negative feedback and thus open up a new and promising research direction.</p></div>","PeriodicalId":8474,"journal":{"name":"Asia Pacific Journal of Management","volume":"41 4","pages":"2155 - 2178"},"PeriodicalIF":4.9,"publicationDate":"2023-07-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48249669","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Board political connections and financial fraud: The case of business groups in South Korea","authors":"Dong Shin Kim, Seung-Hyun Lee","doi":"10.1007/s10490-023-09902-8","DOIUrl":"10.1007/s10490-023-09902-8","url":null,"abstract":"<div><p>Are business groups more likely to commit financial fraud when they are politically connected? Many past studies and anecdotal evidence have pointed out that business groups may behave more opportunistically when they are politically connected. However, the nature of the business group-government relationship evolves amid governance reform in many countries, making it difficult for business groups to abuse their political connections. In this research, we examine the business group-government relationship through the lens of social exchange and find a deterring effect of political connections on a connected business group’s propensity to commit fraud. Our results indicate that business groups are less likely to commit financial fraud when the extent of their political connection is high. By doing so, politically connected firms can prove themselves as legitimate business partners for the government and can more effectively secure a position to leverage their political connections. We additionally find that such an exchange relationship is weakened under a business group-unfriendly government due to their hostile relationships.</p></div>","PeriodicalId":8474,"journal":{"name":"Asia Pacific Journal of Management","volume":"41 4","pages":"2119 - 2153"},"PeriodicalIF":4.9,"publicationDate":"2023-07-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138532930","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The double-edged sword effect of government-initiated CSR on organizational profitability: Moderating roles of slack resources and competition intensity","authors":"Ziyu Zhao, Mengyang Wang, Qiyuan Zhang","doi":"10.1007/s10490-023-09905-5","DOIUrl":"10.1007/s10490-023-09905-5","url":null,"abstract":"<div><p>This study aims to shed light on the bright and dark sides of government-initiated corporate social responsibility (CSR) on organizational profitability in emerging markets. Building on insights from agency theory, we investigate how a government-initiated campaign targeting poverty alleviation in China influences current profitability (i.e., financial performance) and potential profitability (i.e., innovation intensity) and further examine the moderating effects of slack resources and competition intensity. Based on a sample of 1,125 listed firms in China from 2016 to 2019, our study finds that government-initiated CSR promotes financial performance while decreasing innovation intensity. Moreover, the positive influence of government-initiated CSR on financial performance is weaker for firms with greater levels of slack resources. In addition, in fiercely competitive environments, the negative relationship between government-initiated CSR and innovation intensity becomes more adverse. By demonstrating the double-edged role of government-initiated CSR, our findings contribute to the CSR literature and provide managerial implications for executives.</p></div>","PeriodicalId":8474,"journal":{"name":"Asia Pacific Journal of Management","volume":"41 4","pages":"2091 - 2118"},"PeriodicalIF":4.9,"publicationDate":"2023-07-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46186501","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
F. Ahmed, M. M. Babu, Md. Nafizur Rahman, M. J. Uddin, B. Dey
{"title":"Strategic orientation, strategic renewal, and the international performance of born global firms","authors":"F. Ahmed, M. M. Babu, Md. Nafizur Rahman, M. J. Uddin, B. Dey","doi":"10.1007/s10490-023-09903-7","DOIUrl":"https://doi.org/10.1007/s10490-023-09903-7","url":null,"abstract":"","PeriodicalId":8474,"journal":{"name":"Asia Pacific Journal of Management","volume":"1 1","pages":""},"PeriodicalIF":5.4,"publicationDate":"2023-07-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41441054","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Do political ties facilitate or inhibit firm innovation in China? An examination of the institutional structure","authors":"Hong Zhang, Chudi Yang, Weiguo Zhong","doi":"10.1007/s10490-023-09901-9","DOIUrl":"10.1007/s10490-023-09901-9","url":null,"abstract":"<div><p>Drawing on political connection literature, we distinguish two types of political ties, horizontal (i.e., <i>block ties with regions</i>) and vertical (i.e., <i>line ties with departments</i>), and examine their effects on firm innovation. Based on a panel of Chinese public-listed private firms, we find that firms whose executives have block ties innovate much less than those without such ties, particularly when they are located in regions with less developed markets. In contrast, line ties increase firm innovation, particularly when the firms are located in regions with more developed markets. However, it also shows that the effect of line ties is attenuated when regional governments place a greater emphasis on innovation. Our research contributes to the literature on the relationship between political ties and firm innovation, the heterogeneity of political ties, and the interplay between political ties and the institutional environment.</p></div>","PeriodicalId":8474,"journal":{"name":"Asia Pacific Journal of Management","volume":"41 4","pages":"2059 - 2089"},"PeriodicalIF":4.9,"publicationDate":"2023-07-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42773235","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Unveiling the role of corporate social responsibility on the efficiency of capital investments and their speed of adjustment: Insights from India","authors":"Monika Dahiya, Shveta Singh, Neeru Chaudhry","doi":"10.1007/s10490-023-09897-2","DOIUrl":"10.1007/s10490-023-09897-2","url":null,"abstract":"<p>Driven by the dynamic corporate social responsibility (CSR) environment, which is encouraging movement from self-regulation to co-regulation, this study empirically investigates the impact of CSR on the efficiency of capital investments of firms in India, given its remarkable legislation that mandates firms surpassing a threshold to invest 2 per cent of their profits in CSR activities. The study is based on firms listed on NSE 500 from the year 2008 to 2019, and the results suggest that CSR significantly improves investment efficiency in the post-mandate regime. There exists an optimal CSR level that instigates an inverse U-shaped relationship. We also investigate the impact of CSR on the speed of adjustment of capital investments towards the target in case of deviations. High-CSR firms are found to adjust swiftly to their targets since such firms tend to deviate less and incur low adjustment costs. Only the governance dimension of CSR seems to affect the firms’ speed of adjustment in the current context. The positive association between CSR and adjustment speed is pronounced only in the post-mandate period. Also, CSR seems to affect the speed of adjustment only when firms are operating above the target.</p>","PeriodicalId":8474,"journal":{"name":"Asia Pacific Journal of Management","volume":"41 4","pages":"1963 - 1988"},"PeriodicalIF":4.9,"publicationDate":"2023-07-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45656292","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The contingent effect of private entrepreneur foreign-study experience on firm innovation in China","authors":"Kaixian Mao, Yaping Gong","doi":"10.1007/s10490-023-09904-6","DOIUrl":"10.1007/s10490-023-09904-6","url":null,"abstract":"<div><p>Research has found that entrepreneur foreign-study experience can have either positive significant effects on firm innovation, or nonsignificant effects. The question, then, is when such experience benefits firm innovation, and when it does not. Adopting a resource-substitution perspective, we posit that the difference occurs because certain local resources can play a significant moderating role. Specifically, a private entrepreneur’s foreign-study-enabled human capital becomes less influential in driving firm innovation when the foreign-educated entrepreneurs participate strongly in the political system, or when the firm has a high level of guanxi––each of which enables the firm to achieve a local resource advantage over other firms, without the need for enhanced innovation. In contrast, foreign-study-enabled human capital becomes significantly influential in the context of high local marketization. We used the data from a series of nationwide surveys of privately owned firms in China to test these ideas. Regression results based on negative binomial regression models showed that returnee entrepreneurs’ participation in the political system, and firms’ guanxi, each substituted for the role of the returnee entrepreneurs’ foreign study experience in fostering firm innovation, thus rendering such experience no longer significant for firm innovation in the presence of strong political participation or guanxi. In contrast, entrepreneur foreign-study experience led to advantageous firm innovation in the context of higher local marketization.</p></div>","PeriodicalId":8474,"journal":{"name":"Asia Pacific Journal of Management","volume":"41 4","pages":"2021 - 2057"},"PeriodicalIF":4.9,"publicationDate":"2023-07-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46126208","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Muhammad Shehryar Shahid, Mokter Hossain, Masoud Karami, Tehreem Anwar
{"title":"Frugal entrepreneurship: A way to seize business opportunities for low-income customers","authors":"Muhammad Shehryar Shahid, Mokter Hossain, Masoud Karami, Tehreem Anwar","doi":"10.1007/s10490-023-09899-0","DOIUrl":"10.1007/s10490-023-09899-0","url":null,"abstract":"<div><p>Frugal innovation (FI) is a recently emerged phenomenon that is increasingly gaining importance to serve a set of customers in developing countries. Frugal entrepreneurship (FE) based on frugal innovations is emerging from different regions. FI mainly emerging from resource-constrained environments with institutional voids shows how to serve low-income customers with affordable solutions. Yet, we know little about this phenomenon. The objective of this study is to explore how frugal entrepreneurs embrace institutional voids in a developing country to identify and execute business opportunities targeting low-income customers. Using six start-up cases from Pakistan, this qualitative study contributes to the existing literature on FI and FE in several ways. We reveal certain underlying mechanisms that entrepreneurs utilize in their attempt to undertake FI. We find that the entrepreneurs’ strong aspirations to tackle societal needs trigger them to develop FIs and pursue FE. Constructive cobbling and leveraging appropriate technologies in a frugal manner, in particular, are two key enablers for FE, which results in novel outcomes. Based on the findings, we provide implications and future research avenues.</p></div>","PeriodicalId":8474,"journal":{"name":"Asia Pacific Journal of Management","volume":"41 4","pages":"1989 - 2019"},"PeriodicalIF":4.9,"publicationDate":"2023-07-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44306326","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}