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The circular economy encompasses a sustainable economic model based on a production, consumption, distribution and maintenance process that reuses as much as possible. In this research, the two-step composite Circular Economy Business Index was created, based on 17 environmental practices that companies have implemented to reduce the generation of waste and emissions and to increase the reuse and efficiency of materials and energy, among other actions. The use of a sample of 26,783 companies from 49 countries and 10 sectors for the period 2014–2019 allowed the aggregation of these initiatives at the country and industry levels. In this sense, our results show less progress in the circular transformation worldwide and can be used in the design of policies aimed at promoting changes in production and consumption systems in specific geographic or industrial contexts.
Isabel-María García-Sánchez; Francisco-Manuel Somohano-Rodríguez; Víctor Amor-Esteban; José-Valeriano Frías-Aceituno. Which region and which sector leads the circular economy? CEBIX, a multivariant index based on business actions. Journal of Environmental Management 2021, 297, 113299 .
AMA StyleIsabel-María García-Sánchez, Francisco-Manuel Somohano-Rodríguez, Víctor Amor-Esteban, José-Valeriano Frías-Aceituno. Which region and which sector leads the circular economy? CEBIX, a multivariant index based on business actions. Journal of Environmental Management. 2021; 297 ():113299.
Chicago/Turabian StyleIsabel-María García-Sánchez; Francisco-Manuel Somohano-Rodríguez; Víctor Amor-Esteban; José-Valeriano Frías-Aceituno. 2021. "Which region and which sector leads the circular economy? CEBIX, a multivariant index based on business actions." Journal of Environmental Management 297, no. : 113299.
Este trabajo realiza una revisión de la literatura sobre verificación y divulgación de información sobre responsabilidad social corporativa basada en 320 artículos en las 36 revistas principales indexadas en el Journal Citation Reports del Thomson Reuters InCities en las categorías de Business, Finance (Accounting), Management, Ethics y otras categorías relacionadas con Environmental Sciences/Planning and Development. El marco propuesto para el análisis se enfoca en los predictores de la verificación y divulgación de información social y medioambiental, categorizados en factores individuales, organizativos e institucionales; así como en los impactos, clasificándolos en externos (reacciones del mercado) o internos (resultado empresarial). Además, determinamos los moderadores y mediadores con el fin de examinar si la relación entre la verificación y la divulgación de información sobre responsabilidad social y sus predictores e impactos cambia. La revisión revela importantes lagunas en el estado actual de la investigación, permitiéndonos plantear sugerencias sobre futuras investigaciones. This research reviews the corporate social responsibility disclosure literature based on 330 articles in the 36 main journals in the Thomson Reuters InCities Journal Citation Reports categories of Business, Finance (Accounting), Management, Ethics and others related to Environmental Sciences/Planning and Development. The framework includes predictors of socially responsible disclosure and assurance related to individual, organizational and institutional factors, as well as impacts that we classify as external (i.e., market reactions) or internal (i.e., firm performance). In addition, we establish the moderator and mediator variables with a view to examining whether the relationship between social responsibility reporting/assurance services and its predictors and impacts change. The review reveals important research gaps that allow us to provide suggestions about future research in terms of empirical perspectives.
Isabel-María García-Sánchez. Corporate social reporting and assurance: The state of the art. Revista de Contabilidad 2021, 24, 241 -269.
AMA StyleIsabel-María García-Sánchez. Corporate social reporting and assurance: The state of the art. Revista de Contabilidad. 2021; 24 (2):241-269.
Chicago/Turabian StyleIsabel-María García-Sánchez. 2021. "Corporate social reporting and assurance: The state of the art." Revista de Contabilidad 24, no. 2: 241-269.
Isabel-María García-Sánchez. Gender Diversity in the Business World. Encyclopedia of Law and Economics 2021, 1 -3.
AMA StyleIsabel-María García-Sánchez. Gender Diversity in the Business World. Encyclopedia of Law and Economics. 2021; ():1-3.
Chicago/Turabian StyleIsabel-María García-Sánchez. 2021. "Gender Diversity in the Business World." Encyclopedia of Law and Economics , no. : 1-3.
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.
Nicola Raimo; Angela Rella; Filippo Vitolla; María-Inés Sánchez-Vicente; Isabel-María García-Sánchez. Corporate Social Responsibility in the COVID-19 Pandemic Period: A Traditional Way to Address New Social Issues. Sustainability 2021, 13, 6561 .
AMA StyleNicola Raimo, Angela Rella, Filippo Vitolla, María-Inés Sánchez-Vicente, Isabel-María García-Sánchez. Corporate Social Responsibility in the COVID-19 Pandemic Period: A Traditional Way to Address New Social Issues. Sustainability. 2021; 13 (12):6561.
Chicago/Turabian StyleNicola Raimo; Angela Rella; Filippo Vitolla; María-Inés Sánchez-Vicente; Isabel-María García-Sánchez. 2021. "Corporate Social Responsibility in the COVID-19 Pandemic Period: A Traditional Way to Address New Social Issues." Sustainability 13, no. 12: 6561.
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.
Isabel-María García-Sánchez; Víctor Amor-Esteban; Alejandra García-Sánchez. Different Leaders in a COVID-19 Scenario: CEO Altruism and Generous Discourse. Sustainability 2021, 13, 3841 .
AMA StyleIsabel-María García-Sánchez, Víctor Amor-Esteban, Alejandra García-Sánchez. Different Leaders in a COVID-19 Scenario: CEO Altruism and Generous Discourse. Sustainability. 2021; 13 (7):3841.
Chicago/Turabian StyleIsabel-María García-Sánchez; Víctor Amor-Esteban; Alejandra García-Sánchez. 2021. "Different Leaders in a COVID-19 Scenario: CEO Altruism and Generous Discourse." Sustainability 13, no. 7: 3841.
In recent years, the correct representation of environmental performance has become increasingly important. In light of this, in the academic field, numerous researchers have examined the level and quality of environmental disclosure. However, in the context of studies relating to the determinants of environmental disclosure, little attention has been paid to the role of environmental innovation. This study, in the context of voluntary disclosure theory, aims to fill this important gap through the analysis of the impact of environmental innovation on the level of integrated environmental information disclosed by companies and the analysis of environmental performance as a mediating factor in this relationship. The results show a positive relationship between environmental innovation and integrated environmental disclosure. In addition, they show that environmental performance represents a mediating factor in this relationship. However, complementary analyses show that responsible firms adopt silent strategies in their environmental integrated disclosure policies in order to limit the knowledge by external users of the different environmental actions implemented.
Isabel-María García-Sánchez; Nicola Raimo; Filippo Vitolla. Are Environmentally Innovative Companies Inclined towards Integrated Environmental Disclosure Policies? Administrative Sciences 2021, 11, 29 .
AMA StyleIsabel-María García-Sánchez, Nicola Raimo, Filippo Vitolla. Are Environmentally Innovative Companies Inclined towards Integrated Environmental Disclosure Policies? Administrative Sciences. 2021; 11 (1):29.
Chicago/Turabian StyleIsabel-María García-Sánchez; Nicola Raimo; Filippo Vitolla. 2021. "Are Environmentally Innovative Companies Inclined towards Integrated Environmental Disclosure Policies?" Administrative Sciences 11, no. 1: 29.
The commitment of governments to sustainable development was materialised in the Millennium Development Goals (MDGs) and later in the Sustainable Development Goals (SDGs), the latter being a more ambitious project that positions local governments as the main agents for its implementation. With the aim of improving the sustainability of cities, this research analyses the commitment of Spanish local governments to the SDG-11, indicating possible improvements with the aim of complying with Agenda 2030. We use the X-STATIS study technique with graphic representations. The results indicate a positive trend towards achieving SDG-11, in which progressive governments are concerned with issues of inclusive and sustainable urbanisation as a result of increased citizen participation, and conservative governments focus on slum upgrading and safety in inclusive and accessible public spaces. In addition, the ideological coincidence between different administrative levels is an impetus to the fulfilment of SDG-11.
Pedro-José Martínez-Córdoba; Víctor Amor-Esteban; Bernardino Benito; Isabel-María García-Sánchez. The Commitment of Spanish Local Governments to Sustainable Development Goal 11 from a Multivariate Perspective. Sustainability 2021, 13, 1222 .
AMA StylePedro-José Martínez-Córdoba, Víctor Amor-Esteban, Bernardino Benito, Isabel-María García-Sánchez. The Commitment of Spanish Local Governments to Sustainable Development Goal 11 from a Multivariate Perspective. Sustainability. 2021; 13 (3):1222.
Chicago/Turabian StylePedro-José Martínez-Córdoba; Víctor Amor-Esteban; Bernardino Benito; Isabel-María García-Sánchez. 2021. "The Commitment of Spanish Local Governments to Sustainable Development Goal 11 from a Multivariate Perspective." Sustainability 13, no. 3: 1222.
Isabel-María García-Sánchez; Jennifer Martínez-Ferrero. Carbon Offsets. Encyclopedia of Sustainable Management 2021, 1 -6.
AMA StyleIsabel-María García-Sánchez, Jennifer Martínez-Ferrero. Carbon Offsets. Encyclopedia of Sustainable Management. 2021; ():1-6.
Chicago/Turabian StyleIsabel-María García-Sánchez; Jennifer Martínez-Ferrero. 2021. "Carbon Offsets." Encyclopedia of Sustainable Management , no. : 1-6.
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.
Isabel-María García-Sánchez; Lázaro Rodríguez-Ariza; María-Del-Carmen Granada-Abarzuza. The Influence of Female Directors and Institutional Pressures on Corporate Social Responsibility in Family Firms in Latin America. Journal of Risk and Financial Management 2021, 14, 28 .
AMA StyleIsabel-María García-Sánchez, Lázaro Rodríguez-Ariza, María-Del-Carmen Granada-Abarzuza. The Influence of Female Directors and Institutional Pressures on Corporate Social Responsibility in Family Firms in Latin America. Journal of Risk and Financial Management. 2021; 14 (1):28.
Chicago/Turabian StyleIsabel-María García-Sánchez; Lázaro Rodríguez-Ariza; María-Del-Carmen Granada-Abarzuza. 2021. "The Influence of Female Directors and Institutional Pressures on Corporate Social Responsibility in Family Firms in Latin America." Journal of Risk and Financial Management 14, no. 1: 28.
Isabel-María García-Sánchez; Jennifer Martínez-Ferrero. Carbon Disclosure Project. Encyclopedia of Sustainable Management 2021, 1 -6.
AMA StyleIsabel-María García-Sánchez, Jennifer Martínez-Ferrero. Carbon Disclosure Project. Encyclopedia of Sustainable Management. 2021; ():1-6.
Chicago/Turabian StyleIsabel-María García-Sánchez; Jennifer Martínez-Ferrero. 2021. "Carbon Disclosure Project." Encyclopedia of Sustainable Management , no. : 1-6.
Companies are fully aware of the importance of including the Sustainable Development Goals (SDGs) in their corporate social responsibility (CSR) strategies, and of the importance of ensuring that the information disclosed allows groups to be identified. The business contribution to the 2030 Agenda is of interest, as it entails an accurate representation of company identity and is congruent with its contribution to the 2030 Agenda. For it, a content analysis of the business communication of 69 Spanish companies with their stakeholders was carried out in order to identify the possible existence of impression management practices. The evidence obtained indicates that although certain companies have adopted strategies to legitimise their contribution through self-promoting information or terms that allow diverting attention from irresponsible behaviour, companies that show a commitment to the 2030 Agenda do not make use of the information disclosed to manage stakeholder perceptions. Theoretically, our research contributes to increasing current knowledge about corporate communication strategies related to non-financial information, and identifying strategies to legitimise and manage impressions in the information related to the SDGs initiatives.
Isabel-María García-Sánchez; Víctor Amor-Esteban; David Galindo-Álvarez. Communication Strategies for the 2030 Agenda Commitments: A Multivariate Approach. Sustainability 2020, 12, 10554 .
AMA StyleIsabel-María García-Sánchez, Víctor Amor-Esteban, David Galindo-Álvarez. Communication Strategies for the 2030 Agenda Commitments: A Multivariate Approach. Sustainability. 2020; 12 (24):10554.
Chicago/Turabian StyleIsabel-María García-Sánchez; Víctor Amor-Esteban; David Galindo-Álvarez. 2020. "Communication Strategies for the 2030 Agenda Commitments: A Multivariate Approach." Sustainability 12, no. 24: 10554.
A bibliometric and bibliographic review was carried out to determine the effect that gender diversity in a board of directors has on the level of business commitment to sustainable development and stakeholder engagement through the dissemination of social and environmental information. The review included 89 articles published in the 66 most prestigious journals on business, management, ethics and environmental sciences according to the journal citation reports on the ISI Web of Knowledge. There has been spectacular growth in this line of research since 2016, led by Spanish and American researchers. There is currently a paradigm shift in the theoretical frameworks that support these investigations in examining the organisational and institutional environments that favour the advantages associated with the presence of women in bodies responsible for business strategy. However, the latest papers are based on the use of the Critical mass theory and moderating factors in order to explaining the divergence of results.
María‐Florencia Amorelli; Isabel‐María García‐Sánchez. Trends in the dynamic evolution of board gender diversity and corporate social responsibility. Corporate Social Responsibility and Environmental Management 2020, 28, 537 -554.
AMA StyleMaría‐Florencia Amorelli, Isabel‐María García‐Sánchez. Trends in the dynamic evolution of board gender diversity and corporate social responsibility. Corporate Social Responsibility and Environmental Management. 2020; 28 (2):537-554.
Chicago/Turabian StyleMaría‐Florencia Amorelli; Isabel‐María García‐Sánchez. 2020. "Trends in the dynamic evolution of board gender diversity and corporate social responsibility." Corporate Social Responsibility and Environmental Management 28, no. 2: 537-554.
Eco‐innovation and eco‐design strategies are associated with firms' innovation capabilities. Moreover, they may impact on access to public subsidies and on financial performance. In this respect, the agri‐food industry is especially vulnerable, because in general, this sector has less experience of technological innovation, and managers are more likely to be averse to such projects. On the other hand, the board may promote a proactive environmental approach to defend the interests of investors and other stakeholders, taking the view that these strategies reduce the environmental impact of the firm's products and its production processes and are therefore beneficial. Our study aim is to identify the profile of directors who may be favourable to eco‐design and eco‐innovation strategies, focusing on the traits of independence, gender diversity and environmental specialisation. The results obtained, from a dependence model based on panel data supplied by 321 agri‐food companies for the period 2002–2017 (unbalanced panel data with 4878 observations), show that independent directors play a crucial role in implementing eco‐innovation and eco‐design projects. However, neither the diversity nor the specialisation of directors is a significant factor in this regard.
Isabel‐María García‐Sánchez; Isabel Gallego‐Álvarez; José‐Luis Zafra‐Gómez. Do independent, female and specialist directors promote eco‐innovation and eco‐design in agri‐food firms? Business Strategy and the Environment 2020, 30, 1136 -1152.
AMA StyleIsabel‐María García‐Sánchez, Isabel Gallego‐Álvarez, José‐Luis Zafra‐Gómez. Do independent, female and specialist directors promote eco‐innovation and eco‐design in agri‐food firms? Business Strategy and the Environment. 2020; 30 (2):1136-1152.
Chicago/Turabian StyleIsabel‐María García‐Sánchez; Isabel Gallego‐Álvarez; José‐Luis Zafra‐Gómez. 2020. "Do independent, female and specialist directors promote eco‐innovation and eco‐design in agri‐food firms?" Business Strategy and the Environment 30, no. 2: 1136-1152.
The health, economic, and social consequences of the SARS-CoV-2 virus have highlighted the need for collaboration among all agents to face a scenario that we have not before seen. The aims of this paper are to analyze the involvement that large Spanish companies have shown during the toughest moments of the epidemic and to determine the objectives these companies have pursued with them. The results show that several firms have shown a great commitment with society, developing actions that alleviate the consequences of the COVID-19 like others have developed several strategies with different objectives. More concretely, three clusters of responsibility have been identified: (i) protecting only the interests of shareholders and investors; (ii) favoring the wellbeing of the Spanish society in general and vulnerable groups in particular; and (iii) combining the previous altruistic actions with commercial interests.
Isabel-María García‐Sánchez; Alejandra García-Sánchez. Corporate Social Responsibility during COVID-19 Pandemic. Journal of Open Innovation: Technology, Market, and Complexity 2020, 6, 126 .
AMA StyleIsabel-María García‐Sánchez, Alejandra García-Sánchez. Corporate Social Responsibility during COVID-19 Pandemic. Journal of Open Innovation: Technology, Market, and Complexity. 2020; 6 (4):126.
Chicago/Turabian StyleIsabel-María García‐Sánchez; Alejandra García-Sánchez. 2020. "Corporate Social Responsibility during COVID-19 Pandemic." Journal of Open Innovation: Technology, Market, and Complexity 6, no. 4: 126.
The crisis connected to the spread of the COVID-19 pandemic represents an epochal event destined to generate strong economic and social consequences. The impact of the pandemic on business activities and business models also entails rethinking reporting practices. The pandemic has, in fact, created an enormous need for investors and stakeholders in general for future-oriented information relating to the impacts of this event on organizations. Integrated reporting is an ideal tool to provide information related to the effects of the pandemic and provide a holistic view of the future prospects of organizations. This study, using legitimacy theory and based on a two-step methodology, highlighted a series of information that companies will need to have to include in integrated reports to maintain and defend legitimacy. The results provide a double perspective: the first based on content elements and the second based on capitals. The results represent an important guideline for companies for the preparation of future integrated reports.
Isabel-María García-Sánchez; Nicola Raimo; Arcangelo Marrone; Filippo Vitolla. How Does Integrated Reporting Change in Light of COVID-19? A Revisiting of the Content of the Integrated Reports. Sustainability 2020, 12, 7605 .
AMA StyleIsabel-María García-Sánchez, Nicola Raimo, Arcangelo Marrone, Filippo Vitolla. How Does Integrated Reporting Change in Light of COVID-19? A Revisiting of the Content of the Integrated Reports. Sustainability. 2020; 12 (18):7605.
Chicago/Turabian StyleIsabel-María García-Sánchez; Nicola Raimo; Arcangelo Marrone; Filippo Vitolla. 2020. "How Does Integrated Reporting Change in Light of COVID-19? A Revisiting of the Content of the Integrated Reports." Sustainability 12, no. 18: 7605.
We analyze the association between managerial ability in banks and three different typologies of investments that demand significant resources: capital, research and development (R&D), and acquisition expenditures. We also analyze whether managerial ability is related to increased (reduced) investment in banks prone to underinvestment (overinvestment). The sample for analysis is composed of 877 observations of banks in nine countries over the period 2004–2010. We find evidence that more able bank managers select and implement investment projects more efficiently and confirm the upper echelon theory and resource-based view, which suggests that managers’ characteristics affect financial decisions. The findings are robust to alternative measures of investment efficiency. The evidence confirms that, after controlling for bank and country-specific institutional factors, managers’ abilities influence investment efficiency in banks in a significant way. This paper is a response to the calls for a further exploration of the roles that individual managers play in financial decisions and is the first empirical study to investigate this association in the international financial industry.
Isabel-María García-Sánchez; Emma García-Meca. Do Able Bank Managers Exhibit Specific Attributes? An Empirical Analysis of Their Investment Efficiency. Administrative Sciences 2020, 10, 44 .
AMA StyleIsabel-María García-Sánchez, Emma García-Meca. Do Able Bank Managers Exhibit Specific Attributes? An Empirical Analysis of Their Investment Efficiency. Administrative Sciences. 2020; 10 (3):44.
Chicago/Turabian StyleIsabel-María García-Sánchez; Emma García-Meca. 2020. "Do Able Bank Managers Exhibit Specific Attributes? An Empirical Analysis of Their Investment Efficiency." Administrative Sciences 10, no. 3: 44.
The objective of this paper is to determine the effect that certain internal and external factors have on the CSR report assurance quality. Among the different internal factors, firm's incentives and the effectiveness of the CEO and the board of directors will be considered. The external factors analyzed are relating to the institutional pressures at the country and sector levels, and the intrinsic characteristics of the assurer. Using a sample of the 678 largest companies in the world in the 2011–2017 period, the application of the two‐stage model confirms the supremacy of firms' incentives and the characteristics of the service provider as aspects with greater predictive capacity in the assurance quality. Results that would give the CEO, the board and institutional pressures a secondary role in corporate transparency because their effect only occurs in the absence of the two previous drivers.
Isabel‐María García‐Sánchez. Drivers of the CSR report assurance quality: Credibility and consistency for stakeholder engagement. Corporate Social Responsibility and Environmental Management 2020, 27, 2530 -2547.
AMA StyleIsabel‐María García‐Sánchez. Drivers of the CSR report assurance quality: Credibility and consistency for stakeholder engagement. Corporate Social Responsibility and Environmental Management. 2020; 27 (6):2530-2547.
Chicago/Turabian StyleIsabel‐María García‐Sánchez. 2020. "Drivers of the CSR report assurance quality: Credibility and consistency for stakeholder engagement." Corporate Social Responsibility and Environmental Management 27, no. 6: 2530-2547.
This paper aims to determine the role that the different institutional investors play in promoting eco-innovation, focusing on the analysis of the corrective or enhancing effect that can be derived from ownership dispersion related to the participation in a company's stock capital of institutional investors with different time horizons. The results obtained for a sample of 6,454 companies for the period 2002–2017 show the convergence of the short-term institutional investors’ interests with the long-term institutional investors’ demands, which has a positive effect on the implementation of proactive environmental strategies, such as eco-innovation. Additionally, this positive effect is enhanced by disperse ownership structures associated with the participation in a company's stock capital of both types of institutional investors, thereby increasing the firm's commitment to environmental sustainability. Although financial institutions and pension funds diverge from this long-term orientation, seeking an immediate economic return, ownership dispersion allows for correcting their individual negative effect on eco-innovation.
Isabel-María García-Sánchez; Cristina Aibar-Guzmán; Beatriz Aibar-Guzmán. The effect of institutional ownership and ownership dispersion on eco-innovation. Technological Forecasting and Social Change 2020, 158, 120173 .
AMA StyleIsabel-María García-Sánchez, Cristina Aibar-Guzmán, Beatriz Aibar-Guzmán. The effect of institutional ownership and ownership dispersion on eco-innovation. Technological Forecasting and Social Change. 2020; 158 ():120173.
Chicago/Turabian StyleIsabel-María García-Sánchez; Cristina Aibar-Guzmán; Beatriz Aibar-Guzmán. 2020. "The effect of institutional ownership and ownership dispersion on eco-innovation." Technological Forecasting and Social Change 158, no. : 120173.
The main objective of this research is to propose the best aggregate index of corporate social responsibility practice at the organisational level. To achieve this, we analyse the consistency of the different aggregated measures that researchers use in their analyses through a robust statistical technique, the CUR matrix, framed in the big data environment for selecting individuals. Accordingly, we use an international sample of 2,675 large listed companies. The results show that the CUR leverage identifies greater consistency of the different aggregate measures of CSR, confirming its coherence with a correlation analysis. In this sense, it is possible to affirm that the composite indexes used in academia do not introduce any bias into the analysis of CSR practices. In addition, we demonstrate the utility of this technique to identify the most powerful companies, analysing their CSR commitment at the country and industry levels, namely, Norsk Hydro in the metal and mining industry in Norway, Stora Enso in forestry and paper in Finland, Akzo Nobel in chemical products in the Netherlands, BMW in automobiles and parts in Germany, Generali in finance in Italy, Novartis in pharmaceuticals in Switzerland, the BT Group in telecommunications in the United Kingdom and Inditex in textiles in Spain. Moreover, the results of the CUR study confirm that companies adapt to the demands or pressures from the stakeholders in different areas of interest, which are specific to each country and industry. The availability of these data allows the identification of the structural drivers of their growth and the establishment of priorities that allow the design of more effective sustainable development momentum policies.
Víctor Amor‐Esteban; María Purificación Galindo‐Villardón; Isabel‐María García‐Sánchez. Bias in composite indexes of CSR practice: An analysis of CUR matrix decomposition. Corporate Social Responsibility and Environmental Management 2020, 27, 1914 -1936.
AMA StyleVíctor Amor‐Esteban, María Purificación Galindo‐Villardón, Isabel‐María García‐Sánchez. Bias in composite indexes of CSR practice: An analysis of CUR matrix decomposition. Corporate Social Responsibility and Environmental Management. 2020; 27 (4):1914-1936.
Chicago/Turabian StyleVíctor Amor‐Esteban; María Purificación Galindo‐Villardón; Isabel‐María García‐Sánchez. 2020. "Bias in composite indexes of CSR practice: An analysis of CUR matrix decomposition." Corporate Social Responsibility and Environmental Management 27, no. 4: 1914-1936.
Many studies have examined the direct relationship between the two corporate practices: corporate social responsibility (CSR) and earnings management (EM); however, the results remain heterogeneous. To achieve the consensus, this study builds upon the classical agency theory and examines the role of managerial entrenchment in creating organizational facades related to CSR and EM. More specifically, it examines the relationship between CSR performance and EM in the presence of managerial entrenchment and the direct effect of managerial entrenchment on CSR decoupling. In doing so, this article provides evidence of a previously underappreciated yet fundamentally important aspect, that is, managerial entrenchment, that may significantly affect the quality of earnings as well as the level of alignment between CSR disclosure and performance. Our analyses of longitudinal data of an international sample for the period of 2007–2016 supports that managerial entrenchment significantly moderates the relationship between CSR performance and EM. Furthermore, our study reveals that entrenched managers decouple CSR disclosure and performance.
Isabel‐Maria García‐Sánchez; Nazim Hussain; Sana Akbar Khan; Jennifer Martínez‐Ferrero. M anagerial entrenchment, corporate social responsibility, and earnings management. Corporate Social Responsibility and Environmental Management 2020, 27, 1818 -1833.
AMA StyleIsabel‐Maria García‐Sánchez, Nazim Hussain, Sana Akbar Khan, Jennifer Martínez‐Ferrero. M anagerial entrenchment, corporate social responsibility, and earnings management. Corporate Social Responsibility and Environmental Management. 2020; 27 (4):1818-1833.
Chicago/Turabian StyleIsabel‐Maria García‐Sánchez; Nazim Hussain; Sana Akbar Khan; Jennifer Martínez‐Ferrero. 2020. "M anagerial entrenchment, corporate social responsibility, and earnings management." Corporate Social Responsibility and Environmental Management 27, no. 4: 1818-1833.