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Articles 1 - 7 of 7
Full-Text Articles in Business Law, Public Responsibility, and Ethics
Too Little Or Too Much? Reexamining The Relationship Between Corporate Charitable Giving And Corporate Financial Performance, Heli Wang, Jaepil Choi, Jiatao Li
Too Little Or Too Much? Reexamining The Relationship Between Corporate Charitable Giving And Corporate Financial Performance, Heli Wang, Jaepil Choi, Jiatao Li
Research Collection Lee Kong Chian School Of Business
How do corporate charitable contributions affect corporate financial performance? Instrumental stakeholder theory posits that corporate giving can lead to high levels of corporate financial performance through improved stakeholder relations. In contrast, agency theory suggests that corporate giving diverts valuable corporate resources and inhibits corporate financial performance. Extant empirical studies that have examined the relationship found inconclusive results. We depart from and extend the existing literature in two main aspects. First, building upon the instrumental stakeholder argument and agency perspective, we develop the argument that there is an inverse U-shaped relationship between corporate charitable giving and corporate financial performance. Second, we …
The Impact Of Ownership Structure On Wage Intensity In Japanese Corporations, Toru Yoshikawa, Phillip H. Phan, Parthiban David
The Impact Of Ownership Structure On Wage Intensity In Japanese Corporations, Toru Yoshikawa, Phillip H. Phan, Parthiban David
Research Collection Lee Kong Chian School Of Business
The authors studied the effect of ownership structure on human capital investments as indicated by wage intensity, defined as the ratio of expenditure on employee wages to sales, in a sample of 996 Japanese manufacturing firms during their economic recession of 1998-2002. They found that domestic shareholders, with interests beyond financial considerations, enhance wage intensity, especially when performance is low, and thereby safeguard human capital investments. Foreign shareholders with sole interest in financial returns have an opposite effect; they reduce wage intensity when firm performance is low.
The Effects Of Ownership And Capital Structure On Board Composition And Strategic Diversification In Japanese Corporations, Toru Yoshikawa, Phillip H. Phan
The Effects Of Ownership And Capital Structure On Board Composition And Strategic Diversification In Japanese Corporations, Toru Yoshikawa, Phillip H. Phan
Research Collection Lee Kong Chian School Of Business
The board of directors plays an important role in solving the agency problem between shareholders and management. This paper investigates the relationships between ownership and board structure with the diversification strategy of large Japanese firms. The results show that corporate nominee directors are associated with lower levels of product diversification of their investee firms. This suggests that nominee directors in large Japanese corporations see themselves representing specific interests and therefore investors should pay attention to board composition in order to assess the level of protection they can expect to receive. Even without any apparent agency problem with management, there remains …
Ownership Structure, Investment Behaviour And Firm Performance In Japanese Manufacturing Industries, Eric Gedajlovic, Toru Yoshikawa, Motomi Hashimoto
Ownership Structure, Investment Behaviour And Firm Performance In Japanese Manufacturing Industries, Eric Gedajlovic, Toru Yoshikawa, Motomi Hashimoto
Research Collection Lee Kong Chian School Of Business
Using data spanning the 1996-98 fiscal years of 247 of Japan's largest manufacturers, we empirically evaluate the extent to which a firm's investment behaviour and financial performance are influenced by its ownership structure. To do so, we examine six distinct categories of Japanese shareholders: foreign investors, investment funds, pension funds, banks and insurance companies, affiliated companies and insiders. Our findings strongly indicate that the relationship between the equity stakes of a particular category of investor and a firm' s financial performance and investment behaviour is considerably more complex than is depicted in simple principal-agent representations. Such a result emphasizes the …
Nonprofits At The Crossroad: Embrace Change, Learn To Compete, Art Stewart
Nonprofits At The Crossroad: Embrace Change, Learn To Compete, Art Stewart
Art Stewart
The tide of continuous change brought on by the impact of a global marketplace is impacting the fundamental way we conduct our relationships, commerce, and civic engagement as well as the formation and implementation of our public policy, and the manner in which we define and exercise our belief systems. Competition is now essential to acquiring what we need on both a personal and communal basis. We compete in the way we relate to each other - vying for attention and engagement, loyalty and trust, and physical needs. We compete in our civic engagement - striving for numbers of supporters, …
"Myth & Mystique: Growth Brands Are All About Marketplace Behavior", Art Stewart
"Myth & Mystique: Growth Brands Are All About Marketplace Behavior", Art Stewart
Art Stewart
No abstract provided.
Re-Claiming Authentic Leadership For Nonprofit Sustainability, Art Stewart
Re-Claiming Authentic Leadership For Nonprofit Sustainability, Art Stewart
Art Stewart
In the past few years, we have witnessed stunning examples of great - and greatly flawed - leadership that has contributed to a new norm of regulation and accountability, breached stakeholder trust, and dubious public confidence. No consensus is needed to acknowledge that the nonprofit sector has suffered from a lack of leadership, whether it is social service agencies, advocacy organizations, charities and foundations, philanthropic institutions or associations. Many top executives of nonprofit organizations have displayed consistent shortcomings in vision, courage, responsibility, and commitment. Still too, many others have exercised impressive perseverance in the name of service, education, and social …