School of Management (SoM)
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Browsing School of Management (SoM) by Subject "3502 Banking, Finance and Investment"
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Item Open Access ‘E’ of ESG and firm performance: evidence from China(Elsevier, 2024-11) Qian, Binsheng; Poshakwale, Sunil; Tan, YusenFollowing the ESG rating divergence reported in the previous research studies, we develop a novel firm-level Green Commitment (GC) index by incorporating new dimensions of environmental management and governance. We construct GC scores for all A-share listed companies in China from 2015 to 2021 and analyze whether firms with greater environmental commitment exhibit improvements in their future performance. Our results show that firms with high GC scores achieve higher stock returns without incurring extra risk. Additionally, a strong environmental commitment can enhance operating performance by mitigating financial constraints. The evidence supports the view that environmental investing contributes to the creation of positive shareholder value. Our GC index can be applied more widely to resolve the mixed evidence on the value implications of corporate environmental commitments.Item Embargo Supply Chain Disruptions and Stock Prices: Chapter 6 - Conclusions(Springer , 2024) Schelp, Priscilla; Skipworth, Heather; Aktas, Emel; Vieth, BeateThis chapter concludes the book, summarising key takeaways for both practitioners and academics on managing Hurricane-Related Risks based on our research findings. The summary encapsulates the critical outcomes of our research, shedding light on the intricate relationship between hurricanes, supply chain disruptions, and firm performance. Our study draws from a diverse range of academic sources, offering profound insights into the imperative of proactive management and transparent communication during hurricane-induced supply chain disruptions.Item Open Access The roles of directors from related industries on enterprise innovation(MDPI, 2024-08-14) Liang, Wen; Song, Simiao; Xie, Ying; Liu, SanhongTo remain agile in response to market dynamics, foster innovation, and effectively manage potential risks, companies draw upon information from both their upstream and downstream sup-ply chain collaborators to enhance their core competitiveness. This research, conducted on A-share listed companies in Shanghai and Shenzhen from 2010 to 2021, empirically investigates the influence of directors from upstream or downstream supply chain collaborators, referred to as Directors from Related Industries (DRIs), on corporate innovation activities. This study reveals that DRIs significantly boost the innovation activities of enterprises, irrespective of their position within the operational structure. When there is considerable information asymmetry in the related industries of the industry chain, the impact of DRIs on enterprise innovation is evident in both input and output aspects. Conversely, when management has serious concerns about their career, the impact is primarily on the input side. This underscores the role of DRIs in providing relevant information about upstream and downstream industries and alleviating management’s career anxieties, enhancing their effectiveness in consulting and supervising innovation. By examining the economic consequence, corporate innovation emerges as a potential mechanism through which industry chain directors can enhance corporate value. This research delves into the effects of DRIs on enterprise innovation, offering valuable theoretical and practical insights for advancing innovation within the context of value chain integration.