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Corporate Social Responsibility and Firm Performance: A Review of Literatures
Barnabas Gogo Pepple,
Boniface Uzoma Emenike,
Kingsley Ala Wilcox
Issue:
Volume 10, Issue 4, August 2021
Pages:
110-116
Received:
16 June 2021
Accepted:
29 June 2021
Published:
13 July 2021
Abstract: The importance of Corporate Social Responsibility cannot be overemphasized, and good Corporate Social Responsibility will constitute good relationship for both the implementing business and its stakeholders- such as customers, community, suppliers, government etc., of such business. The idea behind Corporate Social Responsibility is largely misunderstood by many to deal with only large organizations and multinational. However, even small businesses can in their own little ways be socially responsible. For instance, both large and small businesses do employ workers, operate in a community, impact on the environment on which they operate and are expected to pay taxes to the government of their nation. Consequently, by employing worker, the business is expected to maintain and services such workers in other to retain them and by operating in a community, the business owe such community among other things healthy goods and contributions to societal activities. Therefore, it doesn’t necessarily mean that a business must be large before Corporate Social Responsibility can be implemented. All the aforementioned activities are all inclusive in the Corporate Social Responsibility list. This study considered the meaning of Corporate Social Responsibility from varying authorities, reviewed literatures on previous studies- specifically those with positive relationship, negative relationship, mixed relationship and modest relationship. Following the robust literature review, gaps in studies were identified and consequently, need for further studies. Finally, conclusion was made and recommendations suggested.
Abstract: The importance of Corporate Social Responsibility cannot be overemphasized, and good Corporate Social Responsibility will constitute good relationship for both the implementing business and its stakeholders- such as customers, community, suppliers, government etc., of such business. The idea behind Corporate Social Responsibility is largely misunde...
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Research on the Mechanism of Differences in Capital Structure Promoting Regional Development Differences
Issue:
Volume 10, Issue 4, August 2021
Pages:
117-124
Received:
29 June 2021
Accepted:
12 July 2021
Published:
19 July 2021
Abstract: Capital structure is an important factor in the formation of regional development differences. Based on the background, this paper selects panel data of 31 provinces (municipalities, autonomous regions) in China from 2006 to 2017, and uses a fixed-effect panel model to analyze the relationship between the capital structure and regional development differences. According to the results of empirical research, there is indeed a relationship between the capital structure and the formation of regional differences, that is, capital efficiency of different subjects varies in promoting economic growth in the eastern, central and western regions, while the economic growth of different regions has different attractiveness to different capital subjects, this kind of influence will last for one period after another. It is this kind of cyclic interaction that forms the "Matthew effect" of "the strong get stronger and the weak get weaker" in regional development. Therefore, based on the problems mentioned in this article, regions should implement policies to attract the combined flow of various types of capital in a targeted manner, narrow the gap in China's eastern, central and western regions development as much as possible, thereby optimizing the regional capital structure and better promoting the coordinated development of China's regional economy.
Abstract: Capital structure is an important factor in the formation of regional development differences. Based on the background, this paper selects panel data of 31 provinces (municipalities, autonomous regions) in China from 2006 to 2017, and uses a fixed-effect panel model to analyze the relationship between the capital structure and regional development ...
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Materialism's Influence on Unsustainable Consumption Across Social Networking Sites: A Systematic Review
Alfonso Pellegrino,
Randall Shannon
Issue:
Volume 10, Issue 4, August 2021
Pages:
125-140
Received:
28 June 2021
Accepted:
13 July 2021
Published:
21 July 2021
Abstract: Research have revealed that consumers increasingly rely on information accessed through social networking sites as a guide for planning their future purchases. Furthermore, social networking sites content has been found to induce compulsive, conspicuous and impulse buying behaviors which are associated with overconsumption, economical, social and environmental issues. Social networking sites increase user’s self-esteem which leads to low self-control eventually leading to irrational and unsustainable consumption behaviors. As social networking sites have become ubiquitous and they are having a big impact on people’s lifestyle and overall on the planet, this research attempted to examine the relationship between materialism and unsustainable consumption behaviors over social networking sites users. The researchers looked at the results of the literature on materialism in social networking sites as well as three unsustainable behaviors: compulsive, conspicuous, and impulse-buying behavior. To discuss the problem and draw recommendations for policymakers and academics interested in the drafting of a possible research agenda, the authors conducted a systematic review of the literature. The Preferred Reporting Items for Systematic Reviews and Meta-Analysis (PRISMA) approach led the analysis, which was visualized using bibliometric mapping software (VOSViewer) based on peer reviewed journal articles present in the Scopus database. The findings revealed that there have been few research on materialism and its negative impact on consumption among social networking sites users. The paper concludes with a list of subjects that can be further investigated for future studies.
Abstract: Research have revealed that consumers increasingly rely on information accessed through social networking sites as a guide for planning their future purchases. Furthermore, social networking sites content has been found to induce compulsive, conspicuous and impulse buying behaviors which are associated with overconsumption, economical, social and e...
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The Welfare Loss from Monopoly Re-visited: Rent Seeking and Protectionism
Issue:
Volume 10, Issue 4, August 2021
Pages:
141-146
Received:
15 July 2021
Accepted:
27 July 2021
Published:
6 August 2021
Abstract: In a 1954 paper, A. C. Harberger claimed that the welfare loss from monopoly in United States manufacturing was less than one tenth of one percent of national income over 1924-1928. This led to additional claims of low monopoly welfare loss and eventually to a counter-argument in favor of adding a rent-seeking cost equal to part or all of the economic profit to this loss. These arguments assumed a passive role for government. In this paper, by contrast, governments are active and seek to maximize their political support. The political support maximum then depends on the nature of the political system and, in particular, on how inclusive this system is. The same is true of the monopoly welfare loss, which becomes largely the social cost of rent seeking plus the social cost of protectionism—or of protecting existing profits by restricting investment that would increase competition in markets where these profits are earned. Protectionist measures lower innovation and the growth of total factor productivity, but can still be a good source of political support in a political system where inclusiveness is moderate to low. This can explain not only the existence of inefficiency and of large monopoly welfare loss, but also their persistence and the persistence of large differences in total factor productivity between nations.
Abstract: In a 1954 paper, A. C. Harberger claimed that the welfare loss from monopoly in United States manufacturing was less than one tenth of one percent of national income over 1924-1928. This led to additional claims of low monopoly welfare loss and eventually to a counter-argument in favor of adding a rent-seeking cost equal to part or all of the econo...
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Corporate Governance at European Level: Romania – Study Case, Romanian Public Enterprises
Issue:
Volume 10, Issue 4, August 2021
Pages:
147-154
Received:
15 July 2021
Accepted:
6 August 2021
Published:
13 August 2021
Abstract: The background: This paper present how the implementation of Corporate Governance in Romania’s Public Enterprises is applied. The paper examines how the Key Performance Indicators are used to monitories the performance of the Public Enterprises, of the Board’s performance and overall the Corporate Governance efficiency. Objective: Although the primary target of this paper is the improving of the Key Performance Indicators by introducing the sustainability indicator. The establishment of the sustainability indicator reflecting the competencies and clarifications of Board members from each public enterprises under the auspices of the Public Authority. Preliminary Studies: The Corporate Governance Codes, along with the Principles and Recommendations in this area, bring a reform in Europe. The research is based on the definition of Corporate Governance from the perspective of established scholars of the field, in which it is understood a concept of “corporate governance”. Method: The methodology used in data collection, in consultation with the Annual Reports prepared by the Board of a public company, has led me to obtain key quantitative information that bases on the indicators used in the annual reporting and allows me to study new indicators for the future recruitment process. In order to obtain the necessary data for the formulation of the hypotheses, I approached the non-participatory observation in the conduct of investigations at the Romanian state companies. This matrix must also include a sustainability indicator, in addition to those that reflect the candidate's experience and training. Results: Depending on the current decisions, the recruitment process is lacking in adaptation of future trends in a developing society. This implies the adjustment of the present recruitment matrix, bringing to a form closer to the market demands and taking into account the transformations that takes place in the society. Implications: I am one of the specialist in the field of the implementation process of Corporate Government in Romania, so through self-questioning I will disseminate the information necessary for the study. Conclusion: A sustainable Corporate Governance is about efficiency, and must have a complex approach in the process of selecting candidates for the vacancies spots in the Board. By adopting a new selection criterion in addition to the existing ones, Corporate Governance conforms to the new trends of the society, such as sustainability trend. Sustainability in decision-making process becomes a strong point of “good Corporate Governance”.
Abstract: The background: This paper present how the implementation of Corporate Governance in Romania’s Public Enterprises is applied. The paper examines how the Key Performance Indicators are used to monitories the performance of the Public Enterprises, of the Board’s performance and overall the Corporate Governance efficiency. Objective: Although the prim...
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Dynamic of the States of Three Different Stock Markets from Correlation and Partial Correlation Changes
Shafiqul Alam,
Nahid Akter,
Mohammad Rubel Miah,
Mohammed Javed Hossain,
Ashadun Nobi
Issue:
Volume 10, Issue 4, August 2021
Pages:
155-161
Received:
7 July 2021
Accepted:
21 July 2021
Published:
18 August 2021
Abstract: The core focus of the study is to examine financial states using index effect on stock to stock correlations of developed, developing and emerging market. The three markets such as S&P 500, KOSPI 200 and DSE are declared as developed, developing and emerging market respectively. To study the similarity between stock price changes, we calculate the time series of the daily log return. Closing stock prices of the targeted markets have been used to measure the daily return of the stocks. To analyze the market mobility, Pearson correlation coefficient, partial correlation, and index effect on stock to stock correlation techniques have been applied. The study found that the companies of developed and emerging market are more strongly correlated than those of developing market during big crash. On the other hand, developing market shows less index effect on stock correlations during crisis. Moreover, insignificant index effect has been found in emerging market during calm state. No significant effect of DSE index on stock to stock correlations in the period of global financial crisis has been observed, implying that global financial crisis did not hit to the DSE in this period. Before the market crash, the interactions between stocks became low enough which corresponds to lower value of average correlation for all types of market. Finally, the change of correlation and partial correlation can be a good indicator to identify and predict the financial states of all the markets which will further helps the stakeholders to make proper economic decisions.
Abstract: The core focus of the study is to examine financial states using index effect on stock to stock correlations of developed, developing and emerging market. The three markets such as S&P 500, KOSPI 200 and DSE are declared as developed, developing and emerging market respectively. To study the similarity between stock price changes, we calculate the ...
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