Special Issue "Sustainable Development and CSR – Perfect Match?"

A special issue of Journal of Risk and Financial Management (ISSN 1911-8074). This special issue belongs to the section "Sustainability and Finance".

Deadline for manuscript submissions: 30 September 2021.

Special Issue Editors

Dr. Maria Palazzo
E-Mail Website
Guest Editor
Department of Political and Communication Sciences, University of Salerno, 84084 Fisciano SA, Italy
Interests: corporate communication; marketing; branding; management; arts and heritage marketing; CSR sustainable development
Special Issues and Collections in MDPI journals
Prof. Dr. Mirela Panait
E-Mail Website
Guest Editor
1. Department of Cybernetics, Economic Informatics, Finance and Accounting, Petroleum-Gas University of Ploiesti, 100680 Ploiesti, Romania;
2. Institute of National Economy, 010374 Bucharest, Romania
Interests: foreign direct investment; capital market; corporate social responsibility and sustainable development
Special Issues and Collections in MDPI journals
Prof. Dr. Alfonso Siano
E-Mail Website
Guest Editor
Department of Political and Communication Sciences, University of Salerno, Fisciano (SA), Italy
Interests: corporate communication, marketing, branding, management, arts and heritage marketing, CSR, sustainable development
Dr. Eglantina Hysa
E-Mail Website
Guest Editor
Department of Economics, Epoka University, Tirana 1032, Albania
Interests: development economics; economic growth; wellbeing; sustainable development; quality in higher education
Special Issues and Collections in MDPI journals
Dr. Marian Catalin Voica
E-Mail Website
Guest Editor
Faculty of Economic Sciences, Petroleum - Gas University of Ploiesti – Romania, Blvd, Bucuresti No 39, Ploiesti, Romania
Interests: foreign direct investment; capital markets; sustainable development; corporate social responsibility

Special Issue Information

Dear Colleagues,

The challenges posed by climate change and the international financial crisis have demonstrated the importance of rethinking companies' behavior. More and more companies have integrated corporate social responsibility into their business strategy, which is no longer seen as an accessory but as a recognition of the role that economic agents have in promoting sustainable development (Moon, 2007, İyigün, 2015). The launch of the Sustainable Development Goals United Nations is helping to reshape the role that companies play in the global economy. Sustainable development is not just a desire, but a way of doing business that can even generate opportunities for the emergence or development of businesses such as waste recycling or renewable energy production (ElAlfy et al., 2020). Socially responsible companies are more attractive both to investors and to customers or other categories of stakeholders, which contributes to improving their financial performance. Substantial contributions to achieving sustainable development goals can have both companies as producers of goods and services and portfolio investors who more recently base their decisions on the financial market based on environmental, social and governance (ESG) issues. Securities are bought or sold depending on the social involvement of the issuing companies. Financial institutions are also involved in these efforts to promote sustainable development, not only by developing principles but also by launching specific financial products such as green bonds (Aureli et al., 2016, Siminica et al., 2019, Izzo et al., 2020).

The aim of this Special Issue is to present the latest theoretical and empirical advances in research on sustainable development and CSR  and to stimulate and foster discussions on these topics.

References

Aureli, S., Medei, R., Supino, E., & Travaglini, C. (2016). Sustainability disclosure after a crisis: a text mining approach. International Journal of Social Ecology and Sustainable Development (IJSESD)7(1), 35-49.

ElAlfy, A., Palaschuk, N., El-Bassiouny, D., Wilson, J., & Weber, O. (2020). Scoping the Evolution of Corporate Social Responsibility (CSR) Research in the Sustainable Development Goals (SDGs) Era. Sustainability12(14), 5544.

İyigün, N. Ö. (2015). Corporate social responsibility and ethics in management in light of sustainable development. In Handbook of research on developing sustainable value in economics, finance, and marketing (pp. 239-258). IGI Global.

Izzo, M. F., Ciaburri, M., & Tiscini, R. (2020). The Challenge of Sustainable Development Goal Reporting: The First Evidence from Italian Listed Companies. Sustainability12(8), 3494.

Moon, J. (2007). The contribution of corporate social responsibility to sustainable development. Sustainable development15(5), 296-306.

Siminica, M., Cristea, M., Sichigea, M., Noja, G. G., & Anghel, I. (2019). Well-Governed Sustainability and Financial Performance: A New Integrative Approach. Sustainability11(17), 4562.

Dr. Maria Palazzo
Dr. Mirela Panait
Prof. Dr. Alfonso Siano
Assoc. Prof. Dr. Eglantina Hysa
Dr. Marian Catalin Voica
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All papers will be peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Journal of Risk and Financial Management is an international peer-reviewed open access monthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1200 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • corporate social responsibility
  • sustainable development
  • climate change
  • international financial crisis
  • environmental, social and governance (ESG) issues
  • value creation
  • technological innovation
  • sustainable finance

Published Papers (2 papers)

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Research

Article
The Influence of Female Directors and Institutional Pressures on Corporate Social Responsibility in Family Firms in Latin America
J. Risk Financial Manag. 2021, 14(1), 28; https://doi.org/10.3390/jrfm14010028 - 08 Jan 2021
Cited by 2 | Viewed by 725
Abstract
This paper has two main aims. Firstly, we examine whether, given a critical mass of female board members, their presence has a different effect on the firm’s CSR practices according to its family or non-family nature. We then consider whether the moderating role [...] Read more.
This paper has two main aims. Firstly, we examine whether, given a critical mass of female board members, their presence has a different effect on the firm’s CSR practices according to its family or non-family nature. We then consider whether the moderating role of the institutional environment in Latin America enhances the role of female directors in influencing the board’s attitude towards CSR strategies. The results obtained—from a sample of 22,958 observations, corresponding to an unbalanced data panel of 5124 companies for the period 2010–2016—confirm our hypothesis and also highlight the existence of type I (organisational) and type II (institutional) compensation effects, which reduce or eliminate differences between family and non-family firms, whether or not they are located in Latin American countries. Full article
(This article belongs to the Special Issue Sustainable Development and CSR – Perfect Match?)
Article
When Does Earnings Management Matter? Evidence across the Corporate Life Cycle for Non-Financial Chinese Listed Companies
J. Risk Financial Manag. 2020, 13(12), 313; https://doi.org/10.3390/jrfm13120313 - 08 Dec 2020
Cited by 3 | Viewed by 919
Abstract
Information availability, firm performance, idiosyncratic volatility and bankruptcy-risk vary across the Corporate Life Cycle (CLC) stages. The purpose of this paper is to examine whether CLC stages explain firm’s propensity to engage in both accrual base and real earning management practices in the [...] Read more.
Information availability, firm performance, idiosyncratic volatility and bankruptcy-risk vary across the Corporate Life Cycle (CLC) stages. The purpose of this paper is to examine whether CLC stages explain firm’s propensity to engage in both accrual base and real earning management practices in the context of China. Panel data of 3250 non-financial Chinese listed firms spanning from 2009 to 2018 is used to investigate the proposed relationship. CLC stages were captured through Dickinson’s model, while earnings management is measured by employing both techniques, i.e., accruals-base earnings management and real earnings management. The data were analyzed through Panel data fixed-effects and random-effects techniques. Results reveal that, when compared to shakeout phase, managers’ response to use both earnings management practices is significantly higher during introduction and decline phases, and lower during growth and mature stages of CLC. It suggests that introductory and later-staged firms distort their factual financial information from creditors to obtain loans without strict debt covenants. Our results are robust to alternate measures and specifications. The core contribution of this research is to add a fresh perspective to the CLC research by uncovering its imperative role in influencing the earning management behavior of corporate managers. Full article
(This article belongs to the Special Issue Sustainable Development and CSR – Perfect Match?)
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