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Full-Text Articles in Business
Purpose In The For-Profit Firm: A Review And Framework For Management Research, Gerard George, Martine R. Haas, Anita M. Mcgahan, Simon J.D. Schillebeeckx, Paul Tracey
Purpose In The For-Profit Firm: A Review And Framework For Management Research, Gerard George, Martine R. Haas, Anita M. Mcgahan, Simon J.D. Schillebeeckx, Paul Tracey
Research Collection Lee Kong Chian School Of Business
Purpose is a concept often used in managerial communities to signal and define a firm’s benevolent and pluralistic approach to its stakeholders beyond its focus on shareholders. While some evidence has linked purpose to positive organizational outcomes such as growth, employee satisfaction, innovation, and superior stock market performance, the definition and application of purpose in management research has been varied and frequently ambiguous. We review literature streams that invoke purpose in the for-profit firm and propose a unifying definition. Next, we develop a framework to study purpose that decouples its framing and formalization within firms from its realization, thus helping …
Social Performance Feedback And Firm Communication Strategy, Heli Wang, Ming Jia, Yi Xiang, Yang Lan
Social Performance Feedback And Firm Communication Strategy, Heli Wang, Ming Jia, Yi Xiang, Yang Lan
Research Collection Lee Kong Chian School Of Business
Although corporate social performance has become an important measure of firm performance, there is little understanding about how firms respond to social performance feedback and how impression management may function as an important firm response to the feedback. Building upon and extending the literature on the behavioral theory of the firm and the strategic use of language, we examine how discrepancies between firms’ social performance and their aspiration levels affect how firms use visual expressions in their CSR reports. In addition, we argue that the relationship between social performance discrepancies and the use of visual expressions in CSR reports is …
Foreign Subsidiary Csr As A Buffer Against Parent Firm Reputation Risk, Nan Zhou, Heli Wang
Foreign Subsidiary Csr As A Buffer Against Parent Firm Reputation Risk, Nan Zhou, Heli Wang
Research Collection Lee Kong Chian School Of Business
This study examines the influence of parent firm reputation risk on the level of corporate social responsibility activities of foreign subsidiaries. We first argue that a strong reputation risk spillover occurs from parent firms to their foreign subsidiaries due to the high visibility of multinationals, the control of parent firms over their subsidiaries, and the liability of foreignness associated with foreign firms in host countries. Then, we argue that subsidiaries may resort to CSR in their host country to reduce the spillover effect. Thus, we hypothesize a positive relationship between parent firm reputation risk and foreign subsidiary CSR activities. Moreover, …
Dare To Be Different? Conformity Versus Differentiation In Corporate Social Activities Of Chinese Firms And Market Responses, Yanlong Zhang, Heli Wang, Xiaoyu Zhou
Dare To Be Different? Conformity Versus Differentiation In Corporate Social Activities Of Chinese Firms And Market Responses, Yanlong Zhang, Heli Wang, Xiaoyu Zhou
Research Collection Lee Kong Chian School Of Business
Building on the literature on optimal distinctiveness, this study explores the effects of conformity and differentiation in corporate social responsibility (CSR) practices on the evaluations by security analysts and the responses of the financial market in general. We develop the argument that while conformity in CSR scope enhances analyst coverage, differentiation in CSR emphasis leads to more-favorable analyst recommendations and higher market value. This suggests that firms may be able to simultaneously conform in CSR scope and differentiate in CSR emphasis to achieve optimal distinctiveness. To further enhance our understanding of the variation in the relationship between conformity/differentiation and the …
Future-Time Framing: The Effect Of Language On Corporate Future Orientation, Hao Liang, Christopher Marquis, Luc Renneboog, Sunny Li Sun
Future-Time Framing: The Effect Of Language On Corporate Future Orientation, Hao Liang, Christopher Marquis, Luc Renneboog, Sunny Li Sun
Research Collection Lee Kong Chian School Of Business
We examine how international variation in corporate future-oriented behavior, such as corporate social responsibility and research and development investment, could partially stem from characteristics of the languages spoken at firms. We develop a future-time framing perspective rooted in the literatures on organizational categorization and framing. Our theory and hypotheses focus on how companies with working languages that obligatorily separate the future tense and the present tense engage less in future-oriented behaviors, and this effect is attenuated by exposure to multilingual environments. The results based on a large global sample of firms from 39 countries support our theory, highlighting the importance …
Firm Litigation Risk And The Insurance Value Of Corporate Social Performance, Ping-Sheng Koh, Cuili Qian, Heli Wang
Firm Litigation Risk And The Insurance Value Of Corporate Social Performance, Ping-Sheng Koh, Cuili Qian, Heli Wang
Research Collection Lee Kong Chian School Of Business
This paper advances the risk management perspective that superior social performance enhances firm value by serving as an ex ante valuable insurance mechanism. We posit that good social performance is more valuable as an insurance mechanism for firms with higher litigation risks. Moreover, value generation of corporate social performance (CSP) depends on whether a firm has gained pragmatic legitimacy (i.e., a firm's financial health) and moral legitimacy (i.e., whether or not a firm operates in a socially contested industry) among its stakeholders. We find that the value of CSP as insurance against litigation risk is practically significant, adding 2 to …