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Articles 1 - 11 of 11
Full-Text Articles in Business
Understanding And Tackling Societal Grand Challenges Through Management Research, Gerard George, Jennifer Howard-Grenville, Aparna Joshi, Laszlo Tihanyi
Understanding And Tackling Societal Grand Challenges Through Management Research, Gerard George, Jennifer Howard-Grenville, Aparna Joshi, Laszlo Tihanyi
Research Collection Lee Kong Chian School Of Business
“Grand challenges” are formulations of global problems that can be plausibly addressed through coordinated and collaborative effort. In this Special Research Forum, we showcase management research that examines societal problems that individuals, organizations, communities, and nations face around the world. We develop a framework to guide future research to provide systematic empirical evidence on the formulation, articulation, and implementation of grand challenges. We highlight several factors that likely enhance or suppress the attainment of collective goals, and identify representative research questions for future empirical work. In so doing, we aspire to encourage management scholars to engage in tackling broader societal …
Socially Responsible Firms, Allen Ferrell, Hao Liang, Luc Renneboog
Socially Responsible Firms, Allen Ferrell, Hao Liang, Luc Renneboog
Research Collection Lee Kong Chian School Of Business
In the corporate finance tradition, starting with Berle and Means (1932), corporations should generally be run to maximize shareholder value. The agency view of corporate social responsibility (CSR) considers CSR an agency problem and a waste of corporate resources. Given our identification strategy by means of an instrumental variable approach, we find that well-governed firms that suffer less from agency concerns (less cash abundance, positive pay-for-performance, small control wedge, strong minority protection) engage more in CSR. We also find that a positive relation exists between CSR and value and that CSR attenuates the negative relation between managerial entrenchment and value.
Word Power: The Impact Of Negative Media Coverage On Disciplining Corporate Pollution, Ming Jia, Li Tong,, P. V. Viswanath, Zhe Zhang
Word Power: The Impact Of Negative Media Coverage On Disciplining Corporate Pollution, Ming Jia, Li Tong,, P. V. Viswanath, Zhe Zhang
Research Collection Lee Kong Chian School Of Business
Sequences of individual words make up media reports. And sequences of media reports constitute the power of the news media to influence corporate practices. In this paper, we focus on the micro-foundations of news reports to elaborate how an atmosphere of negative news reports following an initial exposure of corporate pollution activity can help stop such activity through their impact on corporate managers. We extend our understanding of the corporate governance effect of news media by considering two new aspects of reports—one, the proportion of words in negative reports relative to the total number of words in all reports; and …
Governance And Post-Repurchase Performance, Gary Caton, Jeremy Goh, Yen Teik Lee, Scott Linn
Governance And Post-Repurchase Performance, Gary Caton, Jeremy Goh, Yen Teik Lee, Scott Linn
Research Collection Lee Kong Chian School Of Business
Payout policies based on share repurchase programs provide greater flexibility than do those based on cash dividends. We develop and test an empirical model in which strongly governed companies outperform weakly governed companies after announcing share repurchase programs. Our findings include positive associations between strong governance and both post-announcement adjusted operating performance and abnormal stock returns. The results are robust to sample selection bias, different sample criteria, governance measurement, and various control variables. In addition, governance strength is associated with larger post-announcement changes in CEO incentive compensation and merger and acquisition activity, both of which we argue are consistent with …
Socially Responsible Firms, Allen Ferrell, Hao Liang, Luc Renneboog
Socially Responsible Firms, Allen Ferrell, Hao Liang, Luc Renneboog
Research Collection Lee Kong Chian School Of Business
In the corporate finance tradition starting with Berle & Means (1923), corporations should generally be run so as to maximize shareholder value. The agency view of corporate social responsibility (CSR) considers CSR as an agency problem and a waste of corporate resources. Given our identification strategy by means of an IV approach, we find that well-governed firms who suffer less from agency concerns (less cash abundance, positive pay-for-performance, small control wedge, strong minority protection) engage more in CSR. We also find a positive relation between CSR and value and that CSR attenuates the negative relation between managerial entrenchment and value.
Governance Matter: Morningstar Stewardship Grades And Mutual Fund Performance, Jerry X. Cao, Aurobindo Ghosh, Jeremy Goh, Wee Seng Ng
Governance Matter: Morningstar Stewardship Grades And Mutual Fund Performance, Jerry X. Cao, Aurobindo Ghosh, Jeremy Goh, Wee Seng Ng
Research Collection Lee Kong Chian School Of Business
Mutual fund investors have the arduous task of disentangling luck from ability of mutual fund managers’ performance. In this paper we investigate the role of mutual fund corporate governance (measured by Morningstar Stewardship grade) in mutual fund performance. We propose an objective data-driven corporate governance score based on principal components of Morningstar Stewardship Grades. Furthermore, we establish corporate governance scores have Granger Causality on long-term risk-adjusted returns. The findings suggest that corporate governance grades of mutual funds carry information content beyond the usual star rating measures for predicting long-term mutual fund performance and provide an effective tool for selecting funds.
Bridge Or Buffer: Two Ideas Of Effective Corporate Governance And Public Engagement, Soojin Kim, Jeong-Nam Kim
Bridge Or Buffer: Two Ideas Of Effective Corporate Governance And Public Engagement, Soojin Kim, Jeong-Nam Kim
Research Collection Lee Kong Chian School Of Business
This study identifies organizational factors that influence corporate governance and formulation of public relations strategies for public engagement. This study explores intertwined relationships between public relations strategies and organizational factors. A total of 22 qualitative interviews were conducted with a diverse pool of communication consultants. Results show that the two public relations strategies, bridging and buffering, are frequently observed and linked with key factors such as size, organizational culture, environment specificity, and strategic orientation. Implications for future public relations and corporate governance research are discussed.
Corporate Social Responsibility: An Overview And New Research Directions: Thematic Issue On Corporate Social Responsibility [From The Editors], Heli Wang, Li Tong, Rikki Takeuchi, Gerard George
Corporate Social Responsibility: An Overview And New Research Directions: Thematic Issue On Corporate Social Responsibility [From The Editors], Heli Wang, Li Tong, Rikki Takeuchi, Gerard George
Research Collection Lee Kong Chian School Of Business
The idea of corporate social responsibility (CSR)—that is, businesses bearing a responsibility to society and a broader set of stakeholders beyond its shareholders—gained currency in the 1960s. Since then, attention on CSR has been growing in both academic and practitioner communities around the world. While there have been criticisms and debates on whether it was appropriate for corporations to expand their remit beyond shareholder value, an increasing majority of corporations have proactively committed to addressing larger societal challenges. With a variety of options for corporate engagement in mainstream society and local communities, corporations have created dedicated organizational units to effectively …
The Effect Of Bad Reputation: The Occurrence Of Crisis, Corporate Social Responsibility, And Perceptions Of Hypocrisy And Attitudes Toward A Company, Kyujin Shim, Sung-Un Yang
The Effect Of Bad Reputation: The Occurrence Of Crisis, Corporate Social Responsibility, And Perceptions Of Hypocrisy And Attitudes Toward A Company, Kyujin Shim, Sung-Un Yang
Research Collection Lee Kong Chian School Of Business
Based on attribution theory, this study examines how corporate social responsibility (CSR) and media coverage of corporate reputation, crisis, and CSR history affect the attribution of corporate hypocrisy and subsequently shape attitudes toward a company. The study found that perceptions of corporate hypocrisy mediated corporate reputation and attitudes toward a company during a crisis. The study suggested that CSR might be utilized best when a company has a good reputation with no crisis, whereas corporate hypocrisy is perceived most when a bad reputation and/or a company crisis lead the public to infer ulterior motives in CSR. Theoretical and practical implications …
Think Socially But Act Publicly: Refocusing Csr As Corporate Public Responsibility, Soojin Kim, Jeong-Nam Kim, Laishan Tam
Think Socially But Act Publicly: Refocusing Csr As Corporate Public Responsibility, Soojin Kim, Jeong-Nam Kim, Laishan Tam
Research Collection Lee Kong Chian School Of Business
Current literature has identified many different definitions for the concept of corporate social responsibility (CSR). As a result, many organizations fail to implement and measure CSR strategically. This study reviews the different theories and concepts within CSR and suggests that the current scope of CSR activities is too large that organizations are unable to find a tangible link between CSR and their bottom line. Using two case examples, this study proposes refocusing the concept of CSR as corporate public responsibility (CPR) based on which organizations utilize the concept of publics to prioritize the groups to which they must fulfill their …
Sincerity In Corporate Philanthropy, Stakeholder Perceptions And Firm Value, Ilya R. P. Cuypers, Ping-Sheng Koh, Heli Wang
Sincerity In Corporate Philanthropy, Stakeholder Perceptions And Firm Value, Ilya R. P. Cuypers, Ping-Sheng Koh, Heli Wang
Research Collection Lee Kong Chian School Of Business
This study extends the literature on symbolic management by incorporating the role of stakeholder perceptions into the context of corporate philanthropy. In particular, we differentiate between the quantitative (generous giving) and qualitative (innovative giving) aspects of giving. We argue that although stakeholders may perceive both types of giving as being substantive rather than symbolic, innovative giving is likely to be perceived as more substantive than generous giving is and, thus, has a greater impact on firm value. Furthermore, stakeholder perceptions of corporate philanthropy as being more symbolic or substantive are influenced by firm characteristics—the type of products or services that …