Search Results (294)

This study investigates the relationship between corporate reporting practices and the value relevance of accounting information by analyzing 100 publicly listed non-financial European firms between 2015 and 2019. Drawing on the Ohlson valuation framework, the analysis combines random effects with Driscoll–Kraay standard errors and System GMM estimations to assess the role of financial and non-financial disclosures. Materiality and stakeholder engagement were scored through content analysis of corporate reports, while ESG performance data were obtained from Refinitiv Eikon. The results show that financial fundamentals remain the most robust determinants of firm value, consistent with Ohlson’s model. Among qualitative disclosures, materiality demonstrates a strong and statistically significant positive association with market value in the random effects specification, while stakeholder engagement and ESG scores do not attain statistical significance. In the dynamic panel model, lagged market value is highly significant, confirming the persistence of valuation, while the effect of materiality and stakeholder engagement diminishes. Interaction models further indicate that materiality strengthens the relevance of earnings but reduces the role of book value, underscoring its selective contribution. Overall, the findings provide partial support for the claim that Integrated Reporting enhances the value relevance of accounting information. It suggests that the usefulness of IR depends less on adoption per se and more on the quality and substance of disclosures, particularly the integration of financial material ESG issues into corporate reporting. This highlights IR’s potential to improve transparency, accountability, and investor decision making, thereby contributing to more effective capital market outcomes. Full article

The sustainable development of society requires the incorporation of environmental, social, and governance (ESG) principles. While ESG assessments are widely used in corporate settings, their application in healthcare settings, such as hospitals, remains underexplored. This study aimed to develop a comprehensive evaluation framework integrating ESG and digital transformation (DX) with traditional hospital efficiency and effectiveness assessments. Using open data, financial reports, and hospital website scraping, we applied a slack-based model (SBM) of data envelopment analysis (DEA) and super-efficiency SBM-DEA to calculate sustainability scores across four dimensions: overall sustainability, efficiency, effectiveness, and ESG/DX performance. Results showed that all three components—efficiency, effectiveness, and ESG/DX—were positively associated with overall sustainability. However, ESG/DX performance negatively impacted profitability in smaller hospitals, and improved effectiveness in rehabilitation hospitals was linked to higher operational costs. These findings suggest that while ESG and DX contribute to long-term sustainability, their short-term financial burden may challenge certain hospital types. The proposed index provides valuable insights for hospital management and policy development, aiming to advance ESG and DX initiatives in healthcare. Full article

This study investigates the influence of drone technology on the quality of Saudi financial reports through the integration of Artificial Intelligence (AI) and big data. The study’s mixed-method approach is based on a bibliometric analysis of previous studies, along with documentary and content analysis. The results show that external auditors benefit from using drones when inspections are integrated with AI and big data technology. Moreover, this integration can reduce costs for audit firms and shorten the duration of audit engagements, resulting in more efficient and effective auditing. Seven clusters were identified, with ‘big data’ being the highest-frequency term. This study does not consider potential cybersecurity threats that could impact data integrity and decrease financial transparency. Furthermore, environmental issues in Saudi Arabia, such as sandstorms, could compromise the effectiveness of drone-based auditing. However, this study contributes to the ESG literature by demonstrating how integrated audit technology transforms traditional sustainability reporting into continuous, AI-enhanced verification processes. These processes improve financial report quality while supporting Saudi Arabia’s Green Initiative and its goal of achieving net-zero carbon emissions by 2060. The adoption of AI and big data technologies in auditing represents a shift toward more automated and intelligent audit practices. These changes provide practical insights for government authorities, such as the Saudi Capital Market Authority (CMA), and may result in higher-quality financial reports and increased investor confidence. Full article

This study investigates the credibility of disclosures and examines the reporting protocols in place, utilizing logistic regression models. While various background factors were analyzed, certain associations emerged. This suggests that the logistic regression analysis, bolstered by diagnostic checks such as (ROC AUC, Brier score, and the Hosmer–Lemeshow test), provides robust evidence and strengthens the empirical foundation of the research. These methodological enhancements contribute to the theoretical integration of signaling and legitimacy perspectives, while also offering practical implications for regulatory frameworks. Overall, this work aims to enhance investor confidence and support credibility in the field. Full article

This study investigates the impact of working capital management (WCM) on profitability in the Indian cement industry, an energy-intensive sector central to the country’s infrastructure growth. Using a balanced panel of listed firms over 2010–2024, we employ pooled OLS, two-way fixed effects, quantile regressions, and dynamic system GMM to address heterogeneity and endogeneity concerns. The results demonstrate that reductions in the cash conversion cycle (CCC), accelerated receivables collection, leaner inventories, and prudent use of payables significantly improve profitability. Quantile regressions reveal that highly profitable firms capture larger absolute gains from CCC reductions, while size-split analysis indicates that smaller and liquidity-constrained firms achieve proportionally greater marginal relief. These findings represent complementary perspectives rather than unified statistical relationship, a limitation we acknowledge. Dynamic estimates confirm the robustness of results after accounting for persistence and reverse causality. Beyond firm-level outcomes, the study contributes conceptually by linking WCM efficiency to sustainability financing: liquidity released from shorter operating cycles can be redeployed into green and energy-efficient investments, offering a potential channel for ESG alignment in carbon-intensive industries. Policy implications highlight the role of digital reforms such as TReDS and e-invoicing in strengthening liquidity efficiency, particularly for mid-sized firms. The findings extend the international WCM profitability literature, provide sector-specific evidence for India, and suggest new avenues for integrating financial and sustainability strategies. Full article

Artificial intelligence is transforming industrial marketing by reshaping processes, decision-making, and inter-firm relationships. However, research remains fragmented, with limited evidence on how adoption drivers create new capabilities and sustainability outcomes. This study develops and empirically validates an integrated framework that combines technology, organization, environment, user acceptance, resource-based perspectives, dynamic capabilities, and explainability. A convergent mixed-methods design was applied, combining survey data from industrial firms with thematic analysis of practitioner insights. The findings show that technological readiness, organizational commitment, environmental pressures, and user perceptions jointly determine adoption breadth and depth, which in turn foster marketing capabilities linked to measurable improvements. These include shorter quotation cycles, reduced energy consumption, improved forecasting accuracy, and the introduction of carbon-based pricing mechanisms. Qualitative evidence further indicates that explainability and human–machine collaboration are decisive for trust and practical use, while sustainability-oriented investments act as catalysts for long-term transformation. The study provides the first empirical integration of adoption drivers, capability building, and sustainability outcomes in industrial marketing. By demonstrating that artificial intelligence advances competitiveness and sustainability simultaneously, it positions marketing as a strategic lever in the transition toward digitally enabled and environmentally responsible industrial economies. We also provide a simplified mapping of theoretical lenses, detail B2B-specific scale adaptations, and discuss environmental trade-offs of AI use. Given the convenience/snowball design, estimates should be read as upper-bound effects for mixed-maturity populations; robustness checks (stratification and simple reweighting) confirm sign and significance. Full article

Environmental, Social, and Governance (ESG) performance has become a vital instrument for corporations to integrate sustainable development principles into business operations. Against the dual backdrop of disruptions in the international order and economic instability, investigating the impact of corporate ESG performance on total factor productivity (TFP) under environmental uncertainty is of significant importance. Utilizing data from Chinese A-share listed companies spanning the period 2011 to 2022, this study employs a baseline regression model, a mediation effect model, a moderation effect model, and a moderated mediation model to examine the impact of corporate ESG performance on TFP under conditions of environmental uncertainty. The results indicate that (1) corporate ESG performance exerts a positive influence on TFP, particularly in tertiary industry firms, state-owned enterprises (SOEs), and enterprises with lower environmental risks; (2) improving ESG performance helps alleviate financing constraints, enhance human capital, and boost innovation capability, thereby strengthening TFP; and (3) environmental uncertainty moderates the pathway through which ESG performance affects TFP, amplifying its positive effect. Based on these findings, it is recommended that countries collaborate to establish a global, cross-industry platform for sharing ESG practices, develop a stable ESG policy framework and incentive mechanisms, and encourage enterprises to enhance their ESG management and resilient governance capabilities to promote sustainable economic development. Full article

The rapid development of new infrastructure has profoundly influenced the development pattern of enterprises. Also, it provides new opportunities for manufacturing enterprises to achieve greater sustainable development performance (SDP). Based on data on manufacturing enterprises from 2012 to 2022, this study combines financial performance and ESG performance to measure the SDP of enterprises and discusses the mechanism through which new infrastructure construction (NIC) affects SDP. The results indicate that NIC significantly promotes the financial performance and ESG performance of enterprises, thereby promoting their SDP. This conclusion remains robust after rigorous testing for endogeneity and other robustness checks. Mechanism analysis reveals that appropriate environmental regulation and market competition can strengthen this positive effect of NIC on the SDP of enterprises, while media attention weakens it. Heterogeneity analysis shows that integration infrastructure in NIC most significantly promotes the SDP of enterprises at the infrastructure level. At the regional level, NIC significantly promotes the SDP of enterprises in eastern and central areas. At the enterprise level, NIC more effectively promotes SDP in state-owned enterprises and in growth periods of enterprises. This study provides a theoretical reference and empirical evidence for enhancing global micro-level sustainable development. Full article

This study investigates the influence of Environmental, Social, and Governance (ESG) factors on the financial performance of publicly traded U.S. companies between 2013 and 2023. Using a balanced panel dataset of 386 S&P 500 firms and 4246 firm-year observations, the analysis applies panel data regression models with fixed effects to evaluate the association between ESG scores and two financial indicators: Return on Assets (ROA) and Tobin’s Q. The results reveal a modest association with ROA, but a significantly stronger link with Tobin’s Q, suggesting that while ESG practices may not substantially boost short-term profitability, they are positively perceived by investors and contribute to long-term market value. These findings are consistent with stakeholder and signalling theories, indicating that strong ESG performance reflects effective management and lower investment risk. The limited impact on ROA may stem from the initial costs of implementing ESG initiatives. This study highlights practical implications for corporate leaders and policy-makers, advocating for ESG integration as a long-term value driver. Future research should explore alternative ESG rating systems and consider sectoral dynamics and broader market influences. Full article

This study is based on data from 15,436 firm-year observations of Chinese A-share listed companies during the period 2009–2022 and examines the impact of ESG on firm value and the mediating role of corporate innovation capability. Firm value is proxied by Tobin’s Q, ESG is measured using Huazheng ESG scores, and innovation capability is represented by a weighted patent index. Using fixed-effects models and robustness text, we find that ESG has a significant positive impact on firm value, and this effect is transmitted through firms’ innovation capability. Further analysis reveals that the positive impact of ESG on firm value is more pronounced in non-SOE, firms in the maturity stage, and firms operating in highly competitive markets. Robustness tests confirm that the results are consistent and reliable. The findings suggest that ESG should be regarded as a strategic resource rather than a burden, as it creates firm value by enhancing innovation capability. The conclusions of this study not only extend the literature on the ESG–firm value nexus in the context of emerging markets but also provide practical implications for managers and policymakers seeking to integrate ESG into corporate strategy. Full article

This study introduces the SESG (Security, Environmental, Social, Governance) framework as a necessary evolution of traditional ESG, aimed at enhancing societal and corporate resilience in the face of hybrid threats, war, and climate crises. By integrating a security dimension, SESG responds to the growing inadequacy of classical ESG models in high-risk environments, particularly for countries like Ukraine. The research combines theoretical analysis with empirical data, including a nationwide survey of Ukrainian professionals across business, government, and civil society sectors. The findings reveal overwhelming support—over 90%—for incorporating security into ESG, especially in sectors such as IT, energy, and logistics. The article proposes a matrix of qualitative and quantitative indicators to assess SESG performance and highlights business-led contributions to national defense. The results demonstrate that security is not just a governmental concern but a key factor in corporate responsibility, investor trust, and sustainable development. The study concludes that SESG offers both a scientific reframing of resilience and a practical tool for policy and strategy, particularly under conditions of geopolitical and environmental instability. It urges cross-sector collaboration, standardization, and awareness building to embed SESG as a core principle in global sustainability agendas. Full article

As cities confront intensifying environmental challenges and increasing expectations for sustainable governance, extending Environmental, Social, and Governance (ESG) evaluation frameworks to the urban scale has become a pressing need. However, existing ESG systems are typically designed for corporate contexts, lacking city-specific indicators, integrated data representations, and reliable ESG information with high spatial and temporal resolution for informed decision-making. This study proposes a comprehensive ESG evaluation framework tailored to green cities, which consists of three core components: (1) The construction of a green-oriented ESG indicator system with an expert-informed weighting system; (2) the design of a GIS-BIM-IoT integrated ontology that semantically aligns spatial, infrastructure, and observational data with ESG dimensions; and (3) the implementation of a web-based data integration and visualization platform that dynamically aggregates and visualizes ESG insights. A case study involving a primary school and an air quality monitoring station in Hong Kong demonstrates the system’s capability to infer material recycling rates and pollution concentration scores using ontology-driven reasoning and RDF-based knowledge graphs. The results are rendered in an interactive 3D urban interface, supporting real-time, multi-scale ESG evaluation. This framework transforms ESG assessment from a static reporting tool into a strategic asset for transparent, adaptive, and evidence-based urban sustainability governance. Full article

Quality assurance (QA) in higher education has become increasingly vital in response to global competition, digital transformation, and evolving sustainability demands. This study examines the leading QA frameworks—namely the European Standards and Guidelines (ESG), the EFQM Excellence Model, and ISO 9001—while integrating advanced analytical methodologies, including Data Envelopment Analysis (DEA), the Analytic Hierarchy Process (AHP), and Bayesian modeling, to propose a comprehensive framework for assessing university performance. Through empirical analysis and comparative case studies of internationally ranked universities, this study demonstrates that combining objective indicators with quantitative methods significantly improves institutional efficiency, transparency, and competitiveness. Additionally, the role of digital education, ESG-driven sustainability strategies, and AI-based student feedback systems emerge as being crucial to the effectiveness of QA practices. The results suggest that hybrid evaluation models—blending traditional QA principles with data-driven analytics—promote continuous improvement, optimize resource management, and enhance educational outcomes. This research ultimately highlights the growing relevance of advanced quantitative frameworks in modernizing QA systems and supporting universities in addressing dynamic global challenges. Full article

Despite growing global concern, the gender pay gap (GPG) within China’s financial sector remains underexplored through systematic, data-driven approaches. This study presents one of the few, if not the only, systematic literature review (SLR) and bibliometric analyses focused on the GPG in this context, aiming to map the intellectual landscape, thematic evolution, and policy relevance of the field. Peer-reviewed English-language articles published between 1975 and 2025 were retrieved from the Web of Science Core Collection, enabling international benchmarking and citation mapping. A three-tiered screening protocol narrowed 209 initial records to 64 eligible studies. Bibliometric tools, including VOSviewer and R Bibliometrix, were applied to visualize co-authorship and co-citation networks. The analysis revealed three dominant research clusters—salary transparency, organizational barriers, and leadership gaps—while identifying emerging intersections with FinTech, ESG, and intersectionality frameworks. Despite these trends, the findings indicate limited citation influence, thematic fragmentation, and weak scholarly integration. While the exclusion of Chinese-language literature is a limitation, it is justified for comparative consistency. Overall, this study demonstrates how combining bibliometrics with policy analysis uncovers underexplored “invisible metrics” that sustain gender disparities. It provides a foundational evidence base for future academic inquiry and actionable reforms aligned with SDG 5 and ESG mandates. Full article

The transition to a circular economy has increased the significance of reusable plastic container (RPC) pooling systems in green logistics. These systems are third-party reliant; selecting an appropriate service provider becomes crucial, particularly when measured against Environmental, Social, and Governance (ESG) principles. This study proposes a novel decision-making paradigm that incorporates ESG considerations into the evaluation process of RPC pooling service providers through an SF-RANCOM-ARLON (Spherical Fuzzy Sets-Ranking Comparison-Alternative Ranking Using Two-Step Logarithmic Normalization) hybrid method. A real-world case study involving multiple RPC service providers is presented to ensure that the proposed framework is appropriate. It determined 13 sub-criteria under 4 essential headings in the direction of assessing. Not only does this approach provide decision-makers with a methodical and unbiased approach for selecting the leading RPC pooling service provider within an uncertain environment, but it also helps in determining the necessary criteria for RPC pooling service provider selection. Based on rankings, the most critical criteria for service provider selection are delivery reliability, service flexibility, and customer relationship management, while less emphasis is placed on information disclosure. This research contributes to the emerging discourse on ESG-integrated supplier selection and offers a decision-support tool adaptable for sustainability-oriented supply chain networks. Full article