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Management, Corporate Social Responsibility and Reporting Policies in the Era of COVID-19 and Beyond

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A special issue of Sustainability (ISSN 2071-1050). This special issue belongs to the section "Sustainable Management".

Deadline for manuscript submissions: closed (31 May 2021) | Viewed by 84260

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Special Issue Editors

Prof. Dr. Isabel-María García‐Sánchez

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Guest Editor

Department of Business Administration and Economics, Universidad de Salamanca, 37007 Salamanca, Spain
Interests: sustainability; SDG; circular economy; strategic investors; corporate governance; diversity; disclosure; assurance
Special Issues, Collections and Topics in MDPI journals

Prof. Dr. Filippo Vitolla

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Guest Editor

Department of Management, Finance and Technology, LUM University, 70010 Casamassima (BA), Italy
Interests: corporate social responsibility; strategic management; corporate governance; management; accounting; management accounting; stakeholder management; managerial accounting; account management; controlling
Special Issues, Collections and Topics in MDPI journals

Prof. Dr. Nicola Raimo

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Guest Editor

Department of Management, Finance and Technology, LUM University, Casamassima, Italy
Interests: corporate disclosure; integrated reporting; intellectual capital; digitalization; crowdfunding
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

Covid-19 has changed our lives—the way we approach everyday life, and our vision of the future. In addition to the heavy toll of human lives and the impact on everyday life, the pandemic brings with it far-reaching economic damage, the first consequences of which are beginning to be felt. Faced with the challenges and risks that emerge on the horizon, companies are rightly worried about the repercussions for their employees and their business in the immediate future as well as for the impacts in the near future. On the other hand, the pandemic could also represent an opportunity for certain companies. There is no doubt that the pandemic has distorted organizations’ business models and has substantially changed the value creation processes and management activities. Furthermore, it changed and extended the responsibility of companies towards stakeholders (in particular customers, workers and local communities). Finally, the pandemic has changed the information needs of investors and stakeholders in general, pushing companies to rethink disclosure and reporting policies.

Given this background, we are pleased to announce a Special Issue of Sustainability with the general theme of “Management, Corporate Social Responsibility and Reporting Policies in the Era of Covid-19 and Beyond”.

The objective of this Special Issue is to publish high-quality papers that contribute to promoting our understanding of how Covid-19 is changing and will change management, corporate social responsibility and reporting practices. The Special Issue is open to both conceptual studies and empirical analyses based on qualitative and quantitative methodological approaches.

Possible topics for contributions include, but are not limited to, the following:

Strategic innovation and rethinking of business models in the light of Covid-19;
New risk management profiles in the era of Covid-19;
New marketing management models in the era of Covid-19;
Changes in logistics and operations in the light of Covid-19;
Digitalisation as a response to the critical issues arising from Covid-19;
New ways of human resource management in the era of Covid-19;
Corporate social responsibility policies in the era of Covid-19;
Changes in management control systems, performance measurement models and internal reporting in the era of Covid-19;
Changes to the content of financial and non-financial disclosure and integrated reporting in the light of Covid-19.

Prof. Dr. Isabel-María Garcia‐Sanchez
Prof. Filippo Vitolla
Mr. Nicola Raimo
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 submissions that pass pre-check are 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. Sustainability is an international peer-reviewed open access semimonthly 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 2400 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

CSR
disclosure
non-financial information
integrated reporting
management
COVID-19

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Published Papers (12 papers)

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Research

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18 pages, 2379 KiB

Open AccessArticle

Changes in Corporate Responsibility Management during COVID-19 Crisis and Their Effects on Business Resilience: An Empirical Study of Swiss and German Companies

by Fridolin Simon Brand, Richard Blaese, Giulia Weber and Herbert Winistoerfer

Sustainability 2022, 14(7), 4144; https://doi.org/10.3390/su14074144 - 31 Mar 2022

Cited by 10 | Viewed by 5494

Abstract

The COVID-19 pandemic has affected the activities and performance of companies worldwide. This article examines in what ways corporate responsibility management and corporate responsibility reporting activities have changed during the COVID-19 crisis in Switzerland and Germany, and how corporate responsibility management is related to aspects of business resilience in terms of maintaining expected financial performance during the COVID-19 crisis in Swiss companies. To answer these questions, we conducted a quantitative and qualitative content analysis of company reports of the top 10 Swiss and German companies in terms of market capitalization, as well as a quantitative survey among Swiss managers. Our results show that during the period under consideration, (i) a majority of the companies analyzed in Switzerland and Germany expanded their sustainability reporting, both overall and in all sustainability dimensions; (ii) there is a tendency for corporate responsibility management to move away from upstream and downstream sustainability topics and focus more on in-house sustainability topics; and (iii) there is a correlation between the two corporate responsibility topics of local recruitment and occupational health and expected financial performance as an aspect of maintained business resilience in times of crisis. Full article

(This article belongs to the Special Issue Management, Corporate Social Responsibility and Reporting Policies in the Era of COVID-19 and Beyond)

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17 pages, 928 KiB

Open AccessArticle

How the Public Shaming of Peers Enhances Corporate Social Performance: Evidence from Blacklisted Firms in Japan

by Ranxin Liao and Jungwon Min

Sustainability 2021, 13(24), 13835; https://doi.org/10.3390/su132413835 - 14 Dec 2021

Viewed by 2687

Abstract

This study aims to show how vicarious public shaming, that is the public disgrace of several peers in the same industry, affects focal firms’ corporate social performance (CSP). Drawing on the legitimacy and category theories, we suggest that since an increased vicarious public disgrace harms the legitimacy of the entire industry, peer companies attempt to negate these potential legitimacy losses by improving their CSP. This tendency is more pronounced in firms that have a poor record of CSP. Using a context of the Japanese blacklisted companies by the government for labor law delinquency between 2016 and 2019, our results confirm that vicarious public disgrace is a significant antecedent to improving CSP. Our findings also imply that the appropriate use of public disgrace can enhance overall the CSP levels. Full article

(This article belongs to the Special Issue Management, Corporate Social Responsibility and Reporting Policies in the Era of COVID-19 and Beyond)

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12 pages, 276 KiB

Open AccessArticle

The Impact of the COVID-19 Pandemic on the Labor Market: An Analysis of Supply and Demand in the Spanish Municipalities

by Nicola Raimo, Pedro-José Martínez-Córdoba, Bernardino Benito and Filippo Vitolla

Sustainability 2021, 13(23), 12996; https://doi.org/10.3390/su132312996 - 24 Nov 2021

Cited by 8 | Viewed by 3710

Abstract

The COVID-19 pandemic represents the largest health and economic crisis in recent history. It has particularly affected the countries of the Mediterranean area, with serious repercussions in terms of not only infections and deaths, but also economic losses. In particular, social distancing measures, severe restrictions, and lockdowns imposed by governments have had serious repercussions on the labor market. The impact of the pandemic on the labor market has prompted numerous researchers to examine and quantify its consequences. However, mainly macroeconomic analyses have been carried out and there is a lack of studies aimed at examining the impact on the labor market in the individual municipalities. This study aims to bridge this gap by examining the consequences of the COVID-19 pandemic on the supply and demand of labor in Spanish municipalities, and the factors that can influence these levels of employment. The results show the relevance of the characteristics of the business fabric in the supply and demand for employment during the first months of the pandemic. In addition, they show that the economic activity of the municipality and the demographic features of the population condition the labor market. Full article

(This article belongs to the Special Issue Management, Corporate Social Responsibility and Reporting Policies in the Era of COVID-19 and Beyond)

16 pages, 512 KiB

Open AccessArticle

Do CSR Perceptions Influence Work Outcomes in the Health Care Sector? The Mediating Role of Organizational Identification and Employee Attachment

by Souad Hassanie, Georgiana Karadas and Okechukwu Lawrence Emeagwali

Sustainability 2021, 13(17), 9840; https://doi.org/10.3390/su13179840 - 1 Sep 2021

Cited by 8 | Viewed by 3586

Abstract

A limited number of studies have emphasized the importance of corporate social responsibility (CSR) implementation in the health care sector. Based on social exchange theory and social identity theory, this paper examines the relationships between employees’ CSR perceptions, employee attachment, organizational identification, corporate reputation, employee organization relationship, and extra-role performance utilizing structural equation modeling. Data were obtained from Lebanese health care workers in private hospitals in two questionnaires. The results indicate that CSR perceptions positively affect employee attachment and organizational identification. Moreover, employees’ CSR perceptions positively affect work outcomes directly and indirectly via employee attachment. On the other hand, although organizational identification has a negative but significant relationship with employee organization relationships, it does not significantly influence corporate reputation and extra-role performance. Examining the two intervening variables that link CSR to work outcomes provides theoretical and practical implications. Contributions to health care management literature, as well as future research recommendations, are also presented. Full article

(This article belongs to the Special Issue Management, Corporate Social Responsibility and Reporting Policies in the Era of COVID-19 and Beyond)

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16 pages, 291 KiB

Open AccessArticle

Corporate Social Responsibility in the COVID-19 Pandemic Period: A Traditional Way to Address New Social Issues

by Nicola Raimo, Angela Rella, Filippo Vitolla, María-Inés Sánchez-Vicente and Isabel-María García-Sánchez

Sustainability 2021, 13(12), 6561; https://doi.org/10.3390/su13126561 - 8 Jun 2021

Cited by 42 | Viewed by 18222

Abstract

The COVID-19 pandemic has had serious health, social and economic consequences. In this difficult context, companies are called upon to implement corporate social responsibility (CSR) activities to support society and the weakest individuals. This study examines how Spanish companies have supported society and vulnerable individuals through partnerships with non-governmental organizations (NGOs). In this regard, a multiple case study analysis based on 14 companies listed on the Madrid Stock Exchange that have created collaborations with different NGOs was conducted. The results show that these partnerships are mainly aimed at providing food, health, social and technological support to society and vulnerable individuals. To the best of our knowledge, this is the first study that examines the support provided by companies to society during the COVID-19 pandemic in the European context. Full article

(This article belongs to the Special Issue Management, Corporate Social Responsibility and Reporting Policies in the Era of COVID-19 and Beyond)

22 pages, 2160 KiB

Open AccessArticle

Risk and Opportunity Assessment Model for CSR Initiatives in the Face of Coronavirus

by Maria Krechowicz and Katarzyna Kiliańska

Sustainability 2021, 13(11), 6177; https://doi.org/10.3390/su13116177 - 31 May 2021

Cited by 6 | Viewed by 4452

Abstract

This paper concerns an important and current problem of taking Corporate Social Responsibility (CSR) initiatives in the specific market conditions of the COVID-19 pandemic. CSR activities, aimed at combating COVID-19, contribute to creating favorable conditions for the sustainable development of enterprises and the entire society. In this work, analysis of the survey results, interviews with the initiatives’ beneficiaries, and brainstorm sessions with CSR specialists and companies’ employees allowed us to identify risk and opportunity categories, factors, and develop scales for their probability and consequences assessment. Survey results revealed that socially responsible actions are important in the fight against the coronavirus pandemic, and social expectations, in this regard, are growing. Two-parametric risk/opportunity matrix was used to calculate risk/opportunity level. The aim of this work is to present a new model of risk and opportunity assessment dedicated to organizations carrying out of CSR ventures in the pandemic era. The proposed risk and opportunity assessment model is an effective tool to identify the CSR initiative advantages and drawbacks, as well as a starting point for managing them, to maximize chances and minimize threats. Three examples of practical applications of the proposed model confirm that it can be successfully used in practice. The developed model is based on universal assumptions and criteria, so that it can be used in any country struggling with the pandemic. Full article

(This article belongs to the Special Issue Management, Corporate Social Responsibility and Reporting Policies in the Era of COVID-19 and Beyond)

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13 pages, 493 KiB

Open AccessArticle

The COVID-19 Scenario in Terms of Gender: A Preliminary Analysis in IBEX-35 Companies

by Irene Campos-García

Sustainability 2021, 13(10), 5750; https://doi.org/10.3390/su13105750 - 20 May 2021

Cited by 9 | Viewed by 2691

Abstract

The COVID-19 pandemic has had serious consequences on employment and recent reports have warned that the impacts of the crisis are never gender-neutral. The objective of this research is to analyse the variations that have existed in terms of female representation in the Spanish listed companies during the COVID-19 scenario. The integrated annual reports and the non-financial information reports of each company have been examined to identify the changes that have occurred in their governance structures, leadership positions, and total workforce. A descriptive and correlational analysis was carried out in 2019 and 2020. The findings reveal that: (1) there has been a slight increase in the figures of female representation in different hierarchical positions; (2) the proportion of women on the boards of directors does not depend on the number of women in lower positions; and (3) there is a positive relationship between female representation in leadership positions and the number of women in the total workforce. These results have important implications for business sustainability in the medium and long term. Full article

(This article belongs to the Special Issue Management, Corporate Social Responsibility and Reporting Policies in the Era of COVID-19 and Beyond)

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21 pages, 461 KiB

Open AccessArticle

Rhetoric, Accounting and Accountability: COVID-19 and the Case of Italy

by Lorenzo Gelmini, Valentina Minutiello, Patrizia Tettamanzi and Maurizio Comoli

Sustainability 2021, 13(8), 4100; https://doi.org/10.3390/su13084100 - 7 Apr 2021

Cited by 9 | Viewed by 4947

Abstract

The current dramatic context of COVID-19 has urged academics and practitioners to tackle the topic of the pandemic not only regarding its medical side but from the perspective of social sciences, accounting and accountability as well. In this sense, our paper moves from the pivotal work of Higgins and Walker (2012) and Merkl-Davies and Brennan (2017) and tries to trace the use and the extent of accounting communication by companies during the peculiar context of the pandemic. Considering the nature of the elements to be evaluated, we applied a manual content analysis, a more suitable technique than software to capture subjective and emotional elements. Among the main preliminary results of the paper, the volume and the importance of emotional content come to the surface, such as self-assessment and emotional tone. The paper confirms the important role of rhetorical analysis in understanding the quality and the meaning of the information provided by companies and contributes to the stream of Critical Discourse Analysis (CDA) studies on corporate reporting. Full article

(This article belongs to the Special Issue Management, Corporate Social Responsibility and Reporting Policies in the Era of COVID-19 and Beyond)

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19 pages, 3893 KiB

Open AccessArticle

Different Leaders in a COVID-19 Scenario: CEO Altruism and Generous Discourse

by Isabel-María García-Sánchez, Víctor Amor-Esteban and Alejandra García-Sánchez

Sustainability 2021, 13(7), 3841; https://doi.org/10.3390/su13073841 - 31 Mar 2021

Cited by 13 | Viewed by 3715

Abstract

Academic literature has begun to be interested in the informational gaps between what companies say and do in relation to their financial performance and their commitment to society and the environment, identifying the use of self-protection and self-enhancement strategies before their interest groups. In this research, based on a statistical analysis of textual data and a correspondence analysis, the sentiment of the discourse that Spanish CEOs have held with their stakeholders regarding the operational and strategic decisions they made in the face of COVID-19 is analysed. The evidence shows that managers who promptly reported negative news regarding divestments, cutting expenses and destroying jobs, used the epidemic as justification. The leaders who combined these decisions with responsible actions—focused on the ethical and commercial sustainable dimensions—adopted an approach with a different degree of self-enhancement to value their responsible decisions. In contrast, optimistic CEOs, altruistically committed to society, opted for more personal, emotional, dynamic and constant channels and procedures, avoiding selfish attributions for their actions. Full article

(This article belongs to the Special Issue Management, Corporate Social Responsibility and Reporting Policies in the Era of COVID-19 and Beyond)

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28 pages, 1188 KiB

Open AccessArticle

COVID-19 in Management Studies: A Systematic Literature Review

by Michela Piccarozzi, Cecilia Silvestri and Patrizio Morganti

Sustainability 2021, 13(7), 3791; https://doi.org/10.3390/su13073791 - 29 Mar 2021

Cited by 37 | Viewed by 8976

Abstract

In 2020, the whole world had to face a pandemic with inevitable profound changes in all aspects of life, from the social to the economic sphere. The profound economic crisis that followed the rise of the pandemic has pushed firms and researchers to question the necessary changes and new challenges for the survival of businesses. In this scenario, the aim of the paper is to analyze and classify the main contributions published on the topic of COVID-19 in managerial literature, seeking to discover the perspective and the gaps and outline future avenues of research. A systematic review of the literature has been performed. The results highlight the orientation of studies in this field and the various links between different aspects that emerged. Limitations and implications complete the research. Full article

(This article belongs to the Special Issue Management, Corporate Social Responsibility and Reporting Policies in the Era of COVID-19 and Beyond)

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12 pages, 553 KiB

Open AccessArticle

Investigating Web-Based Sustainability Reporting in Italian Public Universities in the Era of Covid-19

by Giuseppe Nicolò, Natalia Aversano, Giuseppe Sannino and Paolo Tartaglia Polcini

Sustainability 2021, 13(6), 3468; https://doi.org/10.3390/su13063468 - 21 Mar 2021

Cited by 38 | Viewed by 3462

Abstract

Universities are increasingly called to demonstrate to stakeholders their active commitment to responding to social and environmental issues through comprehensive reporting practices. Such expectations were further enhanced by the recent pandemic outbreak unleashed by coronavirus disease 2019 (COVID-19), which has bolstered social pressures on universities to demonstrate their active engagement in supporting health systems in fighting against the virus as well as in ensuring adequate e-learning paths for students. Therefore, this study aims to investigate to what extent Italian public universities disclose sustainability information on their websites. The study is based on a well-established framework adapted from the literature. The category “Sustainability and COVID-19” has been added to also examine the extent to which universities disclose information regarding policies and strategies adopted to cope with the ongoing pandemic crisis. Results evidence that most of the sampled universities devote a specific section of their websites to disclose information on sustainability issues. Results also highlight a strong commitment to the disclosure of social issues. Particular attention is devoted to disclosing information about “Social Performance”; “Sustainability and COVID-19” and “Society Issues”. The results may be beneficial to both policymakers and university governors in gaining awareness about the potential of websites in engendering insights into the social issues that involve a university and a wider range of stakeholders. Full article

(This article belongs to the Special Issue Management, Corporate Social Responsibility and Reporting Policies in the Era of COVID-19 and Beyond)

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15 pages, 355 KiB

Open AccessReview

The Drivers and Barriers of Corporate Social Responsibility: A Comparison of the MENA Region and Western Countries

by Amin Alizadeh

Sustainability 2022, 14(2), 909; https://doi.org/10.3390/su14020909 - 14 Jan 2022

Cited by 27 | Viewed by 19651

Abstract

(1) Although numerous articles have been published to address the drivers or barriers of corporate social responsibility (CSR), some parts of the world have received less attention. In this study, I reviewed the literature from 2010 to 2021 to identify drivers and barriers of CSR in the Middle East and North Africa (MENA) region and compare them with the findings in Western countries. (2) Methods: For this study, I used a structured literature review method. By setting the inclusion and exclusion criteria, only 28 articles remained from the selected database. (3) Results: The findings revealed that some CSR drivers, such as leadership styles, profitability, reputation, moral commitment, and environmental conservation, are common in both regions. There are also some differences between CSR drivers, for example, religious beliefs, low concentration of ownership, and company characteristics are some of the drivers in the MENA region. Maintaining social license to operate, and avoiding the risks of community opposition, pressure from the government, and consumer demand tend to be more important in Western countries. Common barriers in both regions are lack of financial resources, cost, lack of CSR knowledge and awareness, and ownership concentration. This review also highlighted that lack of law enforcement, lack of stakeholder communication, lack of management commitment, lack of interests, corruption, and financial debts are some of the barriers of CSR addressed in the MENA region, whereas cost/benefit ratio, lack of customer interest, and lack of scientific frameworks are special barriers in Western countries. (4) Conclusions: Although researchers in Western countries have more focus on the energy sector, there is a lack of research about the drivers and barriers of CSR in the MENA region in several industries, including oil and gas. Full article

(This article belongs to the Special Issue Management, Corporate Social Responsibility and Reporting Policies in the Era of COVID-19 and Beyond)

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