The relationship between firm financial performance and sustainability reporting (SR) has been extensively researched previously, but with inconsistent results. By incorporating the coercive isomorphism of the institutional theory, this study examines if the relationship is moderated by the ownership of institutional investors. Using data from a sample of 270 Malaysian public listed firms, the study tested two ordinary least square (OLS) regression models. The results show that firm performance and institutional ownership have a positive link to SR. Further examination however (...) discloses a negative moderation of institutional ownership on the relationship between firm performance and SR, thus fail to support the indication that institutional investors coerce the investee firms to utilise their firm performance for sustainability activities. This study adds to SR-related literature by providing reliable and objective findings and directions for future studies in this context. (shrink)

This article seeks to contribute to the literature on corporate governance with particular focus on state-owned enterprises (SOEs). We put our analysis into the context of Russian SOEs operating in an economy with a high level of the state presence, and investigate the relationship between board characteristics and the dividend policy of SOEs. Specifically, we add to the studies on corporate governance in emerging markets by consideration of professional attorneys, a special category of mandated directors and a unique feature of (...) boards of Russian SOEs. We analysed a panel of 1,226 firm-year observations for 2009-2012, the specific period of incremental innovations in SOEs' governance. Generally, our results support the agency theory and demonstrate that an increase in the proportion of independent directors and professional attorneys and an increase in the dividend payouts occur simultaneously, while the proportion of executives on the board is negatively related to the payout ratio. (shrink)

Perhaps one of the most pervasive behaviours in organisations is individual silence. Although individual silence may be triggered by various motives, prior research has predominantly discussed individual silence from the dark side. Thus, individual silence has been viewed as a dysfunctional and antisocial workplace behaviour. In this article, we take a bright perspective by incorporating virtues into the discussion of individual silence. Specifically, we propose the concept of virtuous silence to capture individuals' inclination to remain silent in order to feel, (...) think, and act in ways that contribute to the common good within the organisation. Additionally, virtuous silence contains the following key characteristics: 1) it is driven by an individual's natural propensity for righteousness and collective prosperity; 2) it is a dyadic behaviour; 3) it is a communicative behaviour that focuses on engaging oneself and others in deeper thinking and reasoning. Theoretical contributions and managerial implications are discussed. (shrink)

This study examines the impact of corporate governance on the financial performance of Asia Pacific stocks in three Asian countries: Malaysia, Thailand and Singapore. By including a sample of 159 firms listed on three Asian stock markets from 2013 to 2017, this study found that the effects of corporate governance mechanisms vary significantly among the three Asian markets. Specifically, this study shows that board size has positively influenced listed firms' financial performance in the Singapore Exchange. However, our findings show that (...) board size has negatively affected listed firms' financial performance in Thailand's Stock Exchange. In addition, our results reveal that board independence has negatively influenced listed firms' financial performance in Bursa Malaysia. Finally, this study provides implications for regulatory authorities in the Asian stock markets to separate between chairman and CEO roles since most Asian firms are owned and directed by business families. (shrink)

This paper builds on previous literature on corporate governance and sustainability by studying the relation between the adoption of multiple voting shares (MVS) and environmental, social and governance (ESG) performance. More specifically, it hypothesises that controlled companies with MVS have lower sustainability performance than controlled companies without MVS because of different shareholders incentives. We rely on a proprietary dataset that includes 1,940 firm-year observations from 11 European countries, between 2016 and 2018 and we conduct multivariate analyses. To account for endogeneity (...) and to further strengthen the results, we performed a difference-in-differences (diff-in-diff) analysis. We find that companies controlled by a dominant shareholder through MVS have lower sustainability performance compared to controlled companies without MVS. (shrink)

To Shh, or not to Shh: that is the question. Paraphrasing Hamlet, one of the main ethical dilemmas for workers and organisations can be represented: to blow the whistle or to remain silent when facing a wrongdoing. Whistleblowing is analysed from psychological, normative and organisational points of view, but the implementation in the company is less represented. And it should not be like that, since internal whistleblowing mechanisms allow organisational wrongdoing staying inside the organisation, where it can be remedied and (...) its reputational effects, alleviated. With a content analysis methodology, this paper analyses disclosed information about the implementation of whistleblowing mechanisms in Spanish listed companies (Ibex35), a country where corruption scandals have once again brought to the fore the problem of reporting wrongdoing. The implementation of whistleblowing mechanisms is heterogeneous in terms of denominations, channels and procedures, identifying weak points in the reporting of irregularities in CSR and sustainability reports. (shrink)

Unethical behaviour, such as corruption and fraud, is a massive problem in today's business world. Research in the fields of business ethics and moral psychology has presented compelling evidence of a series of behavioural concepts that might influence an individual's propensity to engage in unethical conduct. Yet, it is still unknown how these concepts apply to more ecologically valid contexts such as real-world scandals on unethical behaviour. Motivated by this, we use empirical qualitative evidence from one of Denmark's largest corruption (...) scandals to explore how well renowned concepts within business ethics and moral psychology hold up in the real world, when looking into both what causes unethical behaviour and how it could be minimised. We find evidence that catalysts of immoral conduct in the case company are well supported by some of the most well researched concepts in the research area, and our research indicates a possible real-world interaction between concepts. (shrink)

CSR in India is mandated through Section 135 of the Companies Act (2013), covering the practice and reporting of social responsibility projects. This paper examines India's CSR framework and reports findings on governance, planning, and implementation from a survey of and non-governmental organisations (NGOs). Overall findings reveal several positive aspects and inform us of the challenges that companies and NGOs consider essential. First, an overwhelming majority of companies focused on three investment areas: health, education, and the environment. Second, 88% of (...) companies undertook long-term continuing projects, a positive signal from a social development perspective. Third, 68% reported that their CSR strategy was aligned with their core business strategy. Fourth, a significant majority of the companies have established the required structure for policy development, planning, and periodic monitoring from a governance perspective. Finally, findings on NGOs indicate several elements of preparedness; however, the retention of talented employees is a continual challenge. (shrink)

This study aims to examine the role of hostile climate in initiating abusive supervision and the mediating role of abusive supervision between the relationship of perceived hostile climate and workplace deviance. A cross-sectional study design was employed to collect the data from the 358 respondents in manufacturing SMEs in Pakistan. Results of the study revealed that perceived hostile climate is significantly related to abusive supervision and workplace deviance. Abusive supervision is significantly related to workplace deviance and it mediates the relationship (...) between perceived hostile climate and workplace deviance. The findings of the current study give insight to the academicians and managers on the prevalence of abuse in the workplace. Further, limitations and future recommendations are given in this study. To the best of our knowledge, this study is one of its own kinds no such study has been conducted before. (shrink)

This study focuses on the cross-cultural differences in attitudes towards business ethics. It contains a systematic review of published studies that have used the attitudes towards business ethics questionnaire (ATBEQ) for measuring students' attitudes. Since business students represent future business leaders, they are an important focus of study in terms of ethical attitudes. Moreover, this subject is worth exploring cross-culturally, because of the growing interconnectedness of the business world. The study compares attitudes across ten samples from different countries and highlights (...) the similarities and major differences. The study also draws attention to the recurring shortcomings of past research into ethical attitudes. (shrink)