The purpose of this paper is to investigate the viability as compared with other financial assets of cryptocurrencies as a currency or as an asset investment. This paper also aims to see which macro variable relates more to the price of cryptocurrencies, especially Bitcoin. Since the whole concept of cryptocurrencies is quite novel, an attempt has been made to briefly explain the underlying blockchain technology that forms the bedrock of cryptocurrencies. In this study, we use secondary data, i.e., the price history of Bitcoin from September 2014 to September 2021 for the last seven years, captured from trading exchanges. We predicted monthly returns of Bitcoin with that of Standard & Poor’s 500 Index (S&P 500), gold, and Treasury Bonds. Our findings show that Bitcoin has very high volatility compared to S&P 500, Gold and Treasury Bonds. Also, our findings show that there is a positive correlation between Bitcoin’s price volatility and the other three financial assets before and during COVID-19. Hence, Bitcoin is acting more as a speculative asset rather than a steady store of value. This can be drawn from the comparison with the debt market i.e., a Treasury Bond that invests in long-dated (30 years) US treasuries with which Bitcoin shows no relationship. The findings of this study could help with understanding the future of Bitcoin. This has important implications for Bitcoin investors. The current study contributes to the extant literature by providing empirical evidence on long-term social sustainability vis-à-vis supply chain traceability.

This paper examines the relationship between board gender diversity and Environmental, Social, and Governance (ESG) disclosure in developed economies. Using a sample of forty-five firms across developed countries between 2012 and 2023, the analysis employs Bloomberg’s ESG disclosure score as a proxy. In terms of methodology, both pooled ordinary least squares (OLS) and fixed effects regression models are employed. However, to mitigate potential endogeneity concerns, the study employs an instrumental variable approach and dynamic panel regression techniques to provide robust causal inference. The findings offer two significant insights. In accordance with critical mass theory, firms with a minimum of three female directors demonstrate a significant positive relationship between board gender diversity and ESG disclosure. This indicates that achieving a critical level of female representation is essential for fostering meaningful improvements in ESG disclosure scores. Second, firms with merely one or two female directors, often considered token representation, exhibit a negative significant impact on ESG disclosure. Additionally, within the UK context, board gender diversity is positively associated with ESG disclosure, suggesting that institutional frameworks and regulatory environment shape this relationship.

Purpose – This paper seeks to explore the role that boards can play in the contribution of organizational performance and to empirically examine the relationship between the chairman, key board composition variables and firm performance. Design/methodology/approach – The data presented are drawn from a sample of 27 chairmen of Greek corporations listed in the Athens Stock Exchange (ASE). The authors examine hypothesized links between the demographic characteristics of the chairmen of the board, board composition variables, and organizational performance. Findings – The authors found a positive relationship between age and competitive positioning which indicates that, the older the chairperson, the better the competitive positioning. Amazingly, the relationship between age and overall firm performance was found to be negative, indicating that even if the chairperson is older and more experienced the possibly efficient performance of the firm does not depend on that. Research limitations/implications – The authors managed to collect data from 27 questionnaires; given the small size of the sample, the authors cannot generalize the findings. Practical implications – The research indicates that understanding the variables that influence top management team and firm performance enhances value creation to investors and shareholders. Originality/value – The choice of the sample was based on a fundamental principle of corporate governance board leadership structure: the chairman of the board is a different entity from the chief executive officer (CEO). This is one of very few studies concerning corporate governance in Greece focusing on the perception of Greek chairpersons.

This article investigates the novel interorganizational format named social franchising that has emerged as a possible solution to tackle the issues of growth and financial sustainability that social enterprises face, to enhance the alleviation of poverty and of other pressuring social issues, and to address the need of many governments to reduce fiscal deficits. We explore the issue of social franchising through case study analyses of four social franchises active in the United Kingdom from a social network theory perspective and through the argument of embeddedness. The influence of relational embeddedness and its eight core variables were found to play the preeminent role in the formation, partner selection, and performance and were examined. In addition, the study showed that the biggest challenges that social franchisors face are the creation of a straightforward clear model, the training of the partners to a different operationally wise and commercially wise culture, and their ability to focus on supporting the whole network.