The objective of this theoretical–empirical study is to investigate the bidirectional relationship between Corporate Social Responsibility and Financial Performance in Spanish listed companies. A complete theoretical framework – based on agency, stewardship, dependency resources, and stakeholder theories – provides the basis for the conceptual model. An important contribution is the use of a social behavioral index formed by four components: Global Reporting Initiative participation, Dow Jones Sustainability Index firm inclusion, Good Corporate Governance Recommendations compliance, and Global Compact signee.The conclusions drawn from the empirical study performed on the companies registered on the Madrid Stock Exchange demonstrate positive relationships in both directions, namely that the social is profitable and that the profitable is social, thereby originating a positive feedback virtuous circle.The results of this analysis have practical applications in the boardroom; they are proof that all social policies increment financial resources, and vice versa, that increased financial performances lead to greater social benefits. As a consequence, this paper encourages all board members to seriously weigh investing financial resources in developing policies that boost the levels of social behavior components in order to contribute globally to the improvement of society

Purpose: – This paper aims to investigate the relationship between internal governance structure and financial performance of listed Spanish companies. The effectiveness of the board of directors is analyzed through the use of different variables: size, composition, duality, number of annual meetings and busyness of the directors. The financial performance is measured by return on assets (ROA), return on equity (ROE) and Tobin’s Q.Design/methodology/approach: – Our study is addressed through the use of a multi-theoretical approach followed by an empirical analysis. Schematic literature review serves as a basis for setting our hypotheses. We conduct the empirical part of the study by applying these to the listed companies in the Madrid Stock Exchange. An econometric model (multiple regression) is used to test the relation between board structure and financial performance.Findings: – Empirical: We conclude that in the three estimated models, two of the dependent variables, ROE and ROA, have an explanatory value. The relationship between the number of the boards of directors’ meetings and performance has proved to be negative. Theoretical: Ample literature on corporate governance leads to two conclusions: First, corporative–financial relations must be studied by a multi-theoretical approach. Second, future research must be made only on specific studies coincident with the majority of their characteristics (country, type of firm, type of statistical model […]).Research limitations/implications: – Future research will try to cover gaps, expanding this study in both space and time.Practical implications: – The number of Spanish companies’ boards meetings is very high. As shown in our study, holding more than one meeting a month does not guarantee greater financial returns; the board can effectively establish its strategic lines of business by meeting up to 12 times per year.Social implications: – The results show a negative relationship between ROE and the number of meetings, which may be linked to the country’s business culture, which traditionally has a higher number of annual meetings when compared to neighboring countries. Perhaps, this is an indicative symptom of the inefficiency associated with the Spanish system.Originality/value: – Theoretical review is performed with two aims: first, to establish our research hypotheses, and second, to reflect on future research by fine-tuning the abundant previous studies.

The pharmaceutical industry, concerned about the impact of its activity, has integrated responsible principles and practices with a view to improving its sustainable and financial performance. This study analyzes the relationship between environmental, social, governance, and controversy indicators and financial performance, measured through return on equity (ROA), return on assets (ROE), and Tobin’s Q, which are applied to the listed companies in the Nasdaq US Smart Pharmaceuticals Index. This index is composed of 30 international companies with a presence at the global level. All the data have been extracted from the Thomson Reuters database. The analysis was performed using structural equation modeling implemented with partial least squares. The results confirm the positive relationship between the construct composed of environmental, social, and governance (ESG) indicators and the aforementioned financial ratios. Additionally, a positive relationship of the controversy indicator with Tobin’s Q is supported. This suggests that the pharmaceutical multinationals focus their investments in sustainability on ESG and pay attention to controversies to boost the visibility of the company and thus increase its value. These conclusions confirm that investing in ESG is a profitable strategy. It is also relevant for managers as it increases the profits and the market value of multinational pharmaceutical companies.

The digital era has radically changed the context in which the tourist service is delivered and experienced, changing the decision processes of consumer and company business models. It is necessary to contact the tourism services customer with non-intrusive techniques, at the beginning of their purchase process and accompany them until the final transaction. The main objective of this case study is to analyze the methodology of inbound marketing and show how The Costa del Sol Planning & Tourism Board could work on its sustainable customer relationship model under the concept of seducing the tourist by being pioneers in the application of this strategy to attract tourism after the pandemic caused by COVID-19. Conclusions of this study include measures to restore travelers’ confidence which will play an important role in attracting tourists after crisis. An inbound marketing strategy will provide a response as it is based on contact with the future tourist through highly specialized content.

In this paper, we try to build on the problems surrounding the management of human resources in health care organizations worldwide. After the analysis of the reviewed literature, we detected that the scientific community considers several recurring themes that need attention: stress, burnout, and turnover intention. Based on this, we developed a model of organizational commitment that aims to achieve performance and health quality, its main result the establishment of the appropriate management policies in order to avoid the abandonment of the organization through the search for commitment and job satisfaction. Amongst our main conclusions, we highlight the need to implement a human resources model for hospital administrators based on the relationships with “patients” not “clients” through the maintenance of a positive and strong atmosphere of staff participation. It is important to develop innovative practices related to clear job design that eliminate reasons for ambiguity and stress in executing the tasks of the healthcare system. Finally, we urge training programs in transformational leadership to promote the well-being and organizational commitment of employees.

In this paper, the convergence in research of the terms Corporate Governance, Financial Performance and Social Responsibility has been studied. To this end, we have reviewed the literature published between 1998 and 2017 and analyzed a total of 350 articles dealing with these issues, either individually or in combination. Thus, a bibliometric and co‐citation analysis has been carried out. This research has demonstrated the importance of the Stakeholder theory to reach the organization's commitment to achieving good financial results, which is considered the key to maintaining social responsibility policies over time.The emerging trends detected focus on board diversity as well as corporate reputation along with the company's financial performance. Also new topics that are raising interest among researchers are women, China, information disclosure or gender.