Search Results (6)

This study investigates two key aspects of Korean companies. First, we examine the significance of the relationship between corporate social responsibility disclosure and a company’s financial performance. Second, we explore the moderating role of company reputation in the link between corporate social responsibility disclosure and financial performance. We use data from Korean companies included in the Forbes Global 2000 list, employing a quantitative methodology and analyzing data from 66 Korean companies between 2017 and 2021. To estimate the relationship between the independent variable (corporate social responsibility disclosure) and the dependent variable (financial performance), we applied multiple regression models, using market value, sales, and net profit as control variables. Our study provides robust evidence of a positive and significant relationship between corporate social responsibility disclosure and the financial performance of Korean companies. We find that their influence is partially mediated by the company’s reputation, which serves as a signal of the firm’s ethical and social responsibility practices to stakeholders. Our results suggest that firms with a positive reputation for corporate social responsibility activities are more likely to experience enhanced financial performance, possibly due to increased stakeholder trust and loyalty, improved risk management, and enhanced access to capital. Full article

Using the example of the COVID-19 global crisis (2020), we prove the low effectiveness of the existing approach to managing the financial risks of investments based on commercial investments. For this, we performed an applied quantitative study based on the statistics from the World Bank for 2020 and the Forbes Global 2000 ranking in 2021, using as an example 17 developing countries with lower-middle and upper-middle incomes from different regions of the world. As an alternative, we suggest a new approach for managing the financial risks of investments, which is based on corporate social responsibility. It implies the placement of long-term, large-scale investments in social and ecological innovations based on the mechanism of public-private partnership. We substantiated the high effectiveness and advantages of the new approach. The new approach to financial risk management amid a crisis was more effective (in comparison with the existing approach) for businesses (ensures higher return on investments, allows avoiding losses), the government (contributes more to economic growth, the probability of which achievement is higher), and for society (supports SDGs to a larger extent and contributes to sustainable development). This paper contributes to the development of the Theory of Investments (Neo-Keynesianism) and fills a gap in the literature, bridging the gap between the Theory of Investments and the Theory of Sustainable Development—outlining the perspectives of the simultaneous overcoming of economic crises and supporting sustainable development during the management of financial investment risks based on corporate social responsibility. Full article

Goal: To perform monitoring of the modern experience of CSR (corporate social responsibility) manifestation in Russia and to differentiate and quantitatively measure the contribution of the support of SDGs (Sustainable Development Goals) and responsible HRM (human resources management) to managing businesses’ financial risks. For this, a sample of the 11 largest companies of one sphere—the extracting industry—which are included in the ranking of Global 2000 Forbes for 2020 are used. Based on the sample, the authors determine the level of the financial risks of Russian companies in the 2020–2021 period and the impact of CSR (in terms of its distinguished indicators) on it. The authors model and measure the contribution of CSR (in terms of its distinguished directions) to the reduction in the financial risks of Russian companies in 2020 and assess the perspective of the decrease in the financial risks of Russian companies for the 2022–2024 period based on CSR. The novelty of this paper lies in the development of a proprietary classification of the directions of CSR by the criterion of contribution to financial risk management. According to the proprietary classification, the following aspects are distinguished: (1) support of SDGs and (2) responsible HRM. The uniqueness and originality of this paper are due to the fact that for the first time the authors perform quantitative measuring of the contribution of CSR (in terms of the distinguished directions—each in isolation) to managing businesses’ financial risks in developing countries based on the example of Russia. Full article

This article deals with the evolution of leadership in the corporate business environment by presenting the results of comparative empirical studies conducted in 2008 and 2018. Based on an analysis of empirical research on the 2000 largest global corporations, obtained from the Forbes Global 2000, this work presents the changes that took place over a decade in the characteristics and competencies of contemporary leaders. The results allowed us to identify the desired characteristics, competencies, and character traits of contemporary leaders. In fact, the comparative analysis of these data showed the dynamics of change in the approach of global corporate leaders over the decade. The research results have important implications for the energy sector. Some of the companies participating in the study operate in the energy sector, therefore the opinions of these CEOs indicate significant determinants of modern leadership in this type of enterprise. When analysing the research results on the vision and scope of leadership impact in corporate business, we pointed, among other things, to the assessment of leadership traits, the evolution of leadership activities’ delegation, and the assessment of the importance of managers’ individual action areas and leadership factors. Full article

In recent years, some cities have experienced significant growth in terms of command and control functions of cities, and thus have managed to relocate themselves to a much upscale position in the global economy. The main goal of this study is to examine the command-and-control function of cities and the impact of the relocation of corporate headquarters on a city’s command-and-control function. The study examines the changes in the revenues of companies located in selected cities and countries and measure the command-and-control function (“C&C”) of cities that well illustrates the strength of cities and countries in the global economy. To achieve our goals, we employ a composite indicator, the Command and Control Index that integrates such fundamental financial data of companies as revenues, profits, market value, and assets. In the analysis, we consider the companies that are listed by Forbes Global 2000. Our findings reinforce that the command-and-control function of the traditional centers of corporate headquarters has been lessening for a while, whereas cities located in developing countries and China in the first place have been occupying an increasing position in the global command and control. Now, we are experiencing the robust growth of Beijing’s command-and-control function index, and the decline of that index of the former leaders (i.e., New York, London, and Tokyo). We can also draw the conclusion that the migration of headquarters does not significantly impact the change of cities’ command-and-control function. In addition, when relocating the headquarters, most companies have remained within the same country and some of them have not even left the metropolitan area itself. In recent years, the number of those companies that have relocated the corporate headquarters has increased, and they have experienced increase in their revenues as well. To attract more corporate headquarters, cities has to offer an attractive environment for companies which strategy should be supported by such governmental initiatives as the reduction of corporate taxes for relocated companies. Full article

Healthcare organizations are being increasingly requested to publicize their sustainability efforts on digital environments and social media, in part because previously passive patients are now becoming active customers. This paper investigates how leading healthcare organizations are using Facebook to communicate their sustainability, in terms of their focus on different components of the 3Ps (people, profit, planet) and interactive communication strategies used on social media. A content analysis was made of the Facebook posts (n = 6145) of healthcare organizations in the Forbes Global 2000 (2017 annual ranking) from 2015 to mid-2018. Our findings show that the social component of sustainability prevails over environmental and economic issues, although it does not seem to generate increased consumer engagement (in terms of users’ likes, comments, reactions, etc.). A data visualization dashboard was developed to help managers in benchmarking competitors and assessing how they can increase response rates and public engagement on social media, thus encouraging the active participation of users. The study also provides useful insights for communication managers in identifying how to use deliberative tools to develop consumer relationships on social media and aligning companies and consumers regarding shared sustainability themes. Full article