Corporate Activities Research Articles

Extraterritorial Human Rights Obligations of Multinational Corporations' Home Countries

As multinational corporations pursue profits as organizations with significant influence, It is unavoidable that during their development process, they will infringe upon the human rights of the host country. To prevent such violations, certain scholars have suggested that multinational corporations should have human rights obligations in their home countries. This article will analyze whether the home country has a certain obligation to constrain the actions of multinational corporations that violate human rights from international treaties and past cases, and draw on some practical experience to propose suggestions for future development.

Tracking, calculating, watching: Governing and delay in the Jakarta Smart City

AbstractJakarta is widely lauded by global consultancies, technology giants and critical scholars as an increasingly important ‘smart’ city. One of the reasons for this is the attempted use by state, corporate and individual actors of smart technologies, discourses and practices to solve the urban challenges of flooding, traffic and waste management in the context of climate change and urbanisation. In this paper, we examine the efforts of the Jakarta Smart City programme and office to govern these challenges. Where smart cities are often described as offering speed and real‐time efficiency, we instead find that the technologies and practices mobilised by the Jakarta Smart City programme govern by projecting, delaying and hypothesising into the future. We describe these governance strategies and outline three of their key forms: keeping track of objects and people, calculating and projecting state savings, and mundane watching but not acting. Rather than facilitating exacting and real‐time policy responses to address these urban problems, these practices instead produce temporal relations of delay that push action further into the future. Building on existing research about futuring and anticipation, and the tempos and rhythms of smart cities, our contribution is to highlight slowness and delay as a key mode of governing.

Corporate Social-Political Activism in Non-Western Context

Corporate Social-Political Activism in Non-Western Context

Vote the Assholes Out: How Value Congruence Work Aligns Stakeholders for Corporate Activism

Vote the Assholes Out: How Value Congruence Work Aligns Stakeholders for Corporate Activism

Analisis Kinerja Keuangan Sebelum dan Sesudah Akuisisi pada Perusahaan Industri Musik Korea Selatan: HYBE Corporation

Business expansion through acquisition has the purpose to increase company performance which is one of corporate action and also the way a company can compete with their competitors healthily. This research aims to get a proof empirical about whether there’s a difference or not on HYBE Corporation’s company performance after acquiring Ithaca Holdings. Object that used on this research is HYBE Corporation’s quarterly consolidation financial reporting. Company performance in this research evaluated by financial ratio. Analysis methods that used in this research are paired sample t-test and wilcoxon signed rank test. Result of this research shows that there’s no difference with HYBE Corporation’s company performance after acquired Ithaca Holdings.

Public sector employment relations: Germany in comparative perspective

The paper asks for the contribution of growth models for the explanation of public sector employment relations in Germany. The paper is subdivided into three parts. The first elaborates on long-term developments as well as forms of employment. The second part analyzes wage setting systems, that is, bilateral collective bargaining for employees and unilateral decision-making for civil servants. The third part compares the empirical outcomes of both sub-systems with the assumptions of growth models and distinguished explicitly various concepts of the state as corporate actor.

Legal Reformulation of Derivative Action Regulations for Protection of Minority Shareholders in Indonesia: Comparative Study of Indonesia and Australia

Arrangements related to legal protection for minority shareholders regulated in Law no. 40 of 2007 concerning Limited Liability Companies (hereinafter referred to as UUPT) still found limitations both in filing rights to sue, objections, and implementation of derivative actions in terms of arrangements regarding the protection of minority shareholders due to a corporate action or certain decisions that take refuge behind the legality of the validity of the General Meeting Shareholders (GMS) whose enactment is heavily influenced by the interests of the majority shareholders. The existing arrangements are felt to be far from justice for minority shareholders. This study will examine whether the Derivative Action arrangements contained in the Company Law as a legal umbrella in providing protection for minority shareholders are adequate and how the legal systems are compared with regard to Derivative Action arrangements in Indonesia and Australia. The purpose of this study is to find out to what extent the Derivative Action regulations contained in the Company Law can protect minority shareholders and to compare the legal systems between the two countries as input and consideration for corrections and improvements to the national legal system. This research uses a type of normative research with a statutory approach and a comparative approach. The results of this legal research found certain aspects of the Australian Corporation Law which can provide a sense of justice and legal certainty as legal benefits for minority shareholders which can be used as legal reformulations in Indonesia.

Интегрированная отчетность как инновационная модель корпоративной отчетности

The study aims to investigate the role of modern approaches to the formation of integrated reporting and to specify the mechanisms of its compilation. The essence of this type of innovative form of self-control is de-scribed, as well as its main elements. The main qualitative characteristics of integrated corporate reporting are specified. Generalized classification of approaches to its preparation is elaborated. For example, general (uni-versal) integrated reporting is singled out as the most significant; reporting in the circular economy paradigm; reporting in the paradigm of sustainable development; reporting on social responsibility; reporting on global openness. Analysis of the activity of Russian corporations regarding usage of integrated reporting in their activi-ties is carried out. Particular features of its preparation in the conditions of digital economy are revealed. It dis-tinguishes and describes the model of interrelation between the blocks of corporation's integrated reporting. The algorithm of its compilation is presented. Recommendations for determining key indicators are formed. The procedure for establishing the sphere of corporate responsibility is defined. Major results of the study are of great interest to those involved in the formation of integrated corporate reporting, as well as for specialists in the theoretical analysis of this subject area.

Technology strategies in converging technology systems: Evidence from printed electronics

AbstractNovel technology systems, such as “fiber optics” and “printed electronics,” increasingly emerge at the interface of hitherto unrelated technology areas. As such, new technology systems often arise through technology convergence, characterized by integrating technology components and knowledge from different technology systems, resulting in a novel system architecture. This phenomenon is of utmost societal relevancy but simultaneously poses tremendous challenges for firms' technology strategies. Firms must not only cope with unrelated knowledge rooted in hitherto different technologies but also have to decide deliberately how systemic (i.e., complete technology system) versus focused (i.e., single component of the technology system) their engagement in technology development in the converging technology system ought to be. In addition, firms need to decide strategically to what extent to develop specialized or design knowledge. Extant concepts of technology strategy fall short of capturing this complexity inherent in converging technology systems. Therefore, to address how technology strategies co‐evolve along with the emergence of new technology systems, this study adds a systems perspective to technology strategy by developing the concept of technology system coverage. This novel dimension of technology strategy is formed by the scope (i.e., focused vs. systemic coverage of the technology system) and type of technological knowledge (i.e., specialized or design knowledge). We empirically apply this novel angle of technology strategy to the convergence field of printed electronics. Based on a longitudinal set of 828 patents over 30 years, 74 relevant corporate actors are identified. The underlying taxonomy enables us to reveal four technology strategies and develop five propositions. The results indicate that all firms build design knowledge over time, whereas not all firms build specialized knowledge, no matter what technology strategy is pursued. In sum, this work advances literature by understanding technology strategy in emerging complex technology systems, introducing a systems perspective.

Corporate Restructuring at One of The Energy Companies in Indonesia: Does it Have an Impact?

In 2021, one of Indonesia's state-owned enterprises (SOEs) in the energy sector, which is one of Indonesia's Fortune Global 500 companies, restructured and divided itself into six sub-holdings with distinct business segments. The company's corporate restructuring mechanism is financial and portfolio restructuring. Large corporations in Indonesia rarely engage in these corporate actions. Consequently, it is intriguing that this research examines the impacts of corporate restructuring. This study seeks to investigate the restructuring’s motives and the impacts of corporate reorganization on a company's performance, as well as its effect on the company's external environment. The authors utilized a qualitative approach with an explanatory case study to accomplish the research objectives. Individual depth interviews (IDI) are used to acquire data from multiple informants who represent shareholders, internal holding companies, and sub holding companies. This study provides an alternative assessment of the impacts of corporate reorganization so that both the company and the government can formulate future decision-making strategies. Most of the prior research on corporate restructuring employed an empirical quantitative technique approach, which involved analyzing data from a variety of companies and industries, so the results of the prior study lack comprehensive information.

SOCIALLY RESPONSIBLE CONSUMPTION IN THE CONDITIONS OF SHARPENING OF CONTRADICTION BETWEEN ARTIFICIAL AND NATURAL

Анотація. The article is devoted to the analysis of socially responsible consumption as a type of social responsibility, caused by the rapid growth of the technosphere, i.e. the integration of technology into society and culture. The concept of "technosphere" reflects the property of technology remaining in the form of local controlled objects creating an integrated environment. The current state of technogenic civilization can be called a crisis due to the displacement of the natural by the artificial. A technized society, as a quasinatural formation, perceives the standards of technical activity as a natural horizon for the development of events. A socially responsible consumption policy, opposed to the actions of commercial corporations pursuing financial and economic goals at the expense of public welfare, in particular in matters of environmental protection, and social stratification, declares itself as a form of civil and political action.

Investment Activity un the Conditions of Global World Crisis, Features, and Prospects

In the context of global competition and technological progress, an increasing number of factors influence the economies of the world. With the outbreak of the war in Ukraine, there have been dramatic changes in global investment trends. The war has repercussions far beyond its immediate surroundings, causing a cost-of-living crisis that affects billions of people around the world while rising energy and food prices depress real incomes and exacerbate debt tensions. Investor uncertainty and risk aversion could put significant pressure on FDI flow this year. The impact on investment flows to developing countries in 2022 and beyond is difficult to predict. The research aims to establish the regularity of the state of investment activity in the context of the global world crisis and to determine the features and prospects of investment activity development. This can be done by conducting a regression analysis to reflect the dependence of the impact of factors on the level of investment activity in 25 economies of the world according to the Global Outsourcing Attractiveness Index between the results of legal adaptability and corporate performance. To check the level of investment activity it is necessary to analyze the state of FDI flows by regions, economies, and countries. Research methods: method of information synthesis; regression analysis; systematization, generalization, comparative analysis. Results. It has been established that as a result of regression analysis, the value of the coefficient of determination indicates that the regression model explains 78% of the dependence of the level of investment activity in 25 economies of the world between the results of legal adaptability and corporate activity. This indicates that there are still a small number of other factors influencing the level of investment activity that is not included in the regression model. It has been determined that global FDI flows recovered to USD 972 billion in the first half of 2022. However, most of the increase was in the first quarter, while global FDI flows decreased by 22% in the second quarter of 2022 compared to the previous quarter. This was caused by rising inflation and interest rates, and rising energy prices, due to Russia’s full-scale invasion of Ukraine. The study found that FDI flows recovered significantly in all regions of the world. It was found that FDI increased sharply in some European countries after the negative inflows recorded in the second half of 2022, the latter was also driven by significant growth in Australia, Germany, Mexico, Spain, and Sweden, whose FDI inflows increased by more than USD 15 billion. It has been revealed that the United States was the leading recipient and investor of FDI worldwide in 2021.

Adopting a social purpose in for-profit firms: the role of the board of directors

AbstractThe debate on the purpose of corporations has intensified over the past decade, compelling businesses to reassess their societal roles. To effectively integrate sustainability into corporate strategies, for-profit firms are increasingly encouraged to adopt a pro-social purpose (SP).However, adopting and integrating an SP is a substantial shift that necessitates an internal push from corporate actors. In particular, due to its function of strategic decision-making, the board of directors represents a pivotal player in promoting the adoption of an SP.This research delves into the impact of board characteristics on the likelihood of adopting an SP in for-profit firms. We examined 580 European firms employing propensity score matching and logistic regression methodologies. Our findings offer initial insights on the effect of the board composition on adopting an SP. In particular, we found that cultivating the directors’ network with employees, fostering gender and age diversity, and welcoming highly qualified directors on board are key factors in facilitating the adoption and implementation of an SP in EU for-profit firms.Our study represents the first attempt to quantitatively examine the relationship between the board and SP. By doing so, we contribute to the theoretical advancement of the complementarity of corporate governance and corporate purpose. Moreover, we encourage practitioners to accrue awareness of the board characteristics that facilitate the adoption of an SP within their firms.

Pelatihan Corporate Intelligence pada Badan Pengelola Keuangan Haji di Jakarta

Corporate Intelligence is focused on the collection and analysis of facts and other information that responds to the needs of key decision makers in the face of: major corporate action decisions that are high risk and complex and contain extraordinary risks or other important considerations required from Information collected from a variety of sources, including online information, subscriptions to highly specialized databases, hard-to-find public records, and knowledgeable and experienced individuals. Analysts risk extracting key facts from the public and their subject domains to a rigorous analytical framework. This process connects various pieces of information, forming illustrations and procedures. The results support sustainable business practices by offering informed and trusted decisions in all commercial contexts. Conversely, the costs associated with violations – from regulatory and legal fines to the reputation and good name of the company can be significant. The implementation of this community service activity collaborates with university lecturers Prof. Dr. Moestopo and Yogyakarta University of Technology who are also involved in the National Love Lovers Tourism Movement (GENPPARI). This training was given to personnel of the Risk Management Committee of the Hajj Financial Management Agency (BPKH) Jakarta and the results of this training were carried out to provide an understanding of the application of intelligence science in the implementation of organizational objectives as mandated by law. Starting from planning, implementing and supervising the receipt, development and expenditure of Hajj funds in order to provide the maximum benefit to Hajj pilgrims. The participants of this training were very enthusiastic because the discussion and question and answer sessions made the training atmosphere lively with various kinds of questions so that participants could ask questions related to the material presented.

Climate obstruction in the Global South: Future research trajectories

“Climate Obstruction” broadly refers to campaigns and other policy actions led by well-organized and financed networks of corporate and other actors who have actively sought to prevent global and/or national action on climate change over the past four decades. In turn, these campaigns often shape public debates, which can affect political support and collective mobilization to mitigate climate change. However, to date, most of the research on climate obstruction has focused on countries in the Global North, especially the United States. Given considerable gaps in research and knowledge, this opinion paper presents a future research agenda needs to shine greater light on if and in what form climate obstruction in the Global South appears.

Firms’ characteristics, corporate governance, and the adoption of sustainability reporting: evidence from Gulf Cooperation Council countries

PurposeThe purpose of the study is to investigate the factors that influence the adoption of new sustainability reporting (SDG) and external assurance (EXTA) practices. This study also examines the relationship between sustainability reporting activity and corporate economic performance for a sample of 99 companies in Gulf Cooperation Council (GCC) countries that addressed SDGs in their sustainability reports published in 2019.Design/methodology/approachUsing a two-stage analysis, this study examines how firms’ characteristics and corporate governance variables affect SDG and economic performance, as well as the firm’s decision to adopt EXTA statements for a sample of companies in that addressed SDGs in their sustainability reports published in 2019. The authors collected data from the Global Reporting Initiative’s (GRI) Sustainability Disclosure database and the Bureau van Dijk for Orbis database.FindingsThe results show that the variables firm size, profitability, big 4 auditors and government ownership significantly affect SDG and economic performance. The results also reveal that firms operating in the manufacturing sector are positively correlated with SDG and the firm’s decision to adopt EXTA statements. Furthermore, the results indicate that board independence positively affects SDGs and EXTA.Research limitations/implicationsThe results can be particularly relevant and timely in helping large GCC companies promote their engagement to sustainable development practices by adopting more sustainable long-term strategies and policies. The findings could also guide managers in the strategic direction to identify firms’ characteristics and corporate governance features essential to promote sustainability reporting, an increasingly important performance indicator for investors and to enhance their confidence in the capital market. The results may also have practical implications to policymakers and other regulators in GCC countries to define effective frameworks that promote sustainable development reports and the use of EXTA.Originality/valueThe results make significant contributions by providing new insights to the existing literature on sustainability reporting in emerging markets by examining a unique perspective on the influence of firms’ characteristics and corporate governance features on the adoption of new sustainability reporting practices. The authors further add to the previous literature on the relationship between a firm’s economic performance and sustainable reporting by providing evidence from large companies in GCC countries, which might benefit from the adoption of multiple conceptual lenses, in this case, legitimacy and stakeholder theories. Lastly, through the empirical findings, this study provides economic validity to the 2018 joint initiative of the GRI and the United Nations Global Compact to strengthen corporate actions to achieve the United Nations SDGs.

When ESG talks: ESG tone of 10-K reports and its significance to stock markets

Since the ESG topic consistently gains on importance in the investment universe, companies provide investors with information regarding recent and future ESG activities through different reporting channels. The most recent research finds relevance of ESG-related corporate activities for formation of investors' opinion regarding companies' valuations and growth prospects. Based on a sample of more than seventeen thousand unique 10-K reports of US companies filed with SEC in period 2013 to 2019 and the word-power methodology proposed by Jegadeesh and Wu (2013), this study also shows evidence for significant relation of ESG textual tone of 10-K reports to stock market returns of filing companies around the report filing dates. Using the ESG linguistic dictionary recently proposed by Baier, Berninger, and Kiesel (2020), this study shows evidence for significant relation of social and governance-related topics disclosure to stock returns, while environmental narratives being ignored by the markets. When looking at individual words from the ESG lexicon, such words as “community”, “health”, “control” imply positive reaction of markets, while “discrimination”, “embezzlement”, and “crime” are related to negative returns. The robustness analysis based on the inverse document frequency word weightings and actual ESG performance scores confirms the significance of ESG information disclosure of 10-K reports for investors. Thus, this study sheds light on the mechanics of ESG information perception and its influence on capital markets.

A Corpus-Based Study on the Identity Discourse of Chinese and American New Energy Vehicle Companies

This paper uses the 2020-2021 social responsibility reports and influence reports of BYD and Tesla respectively, two leading companies in the world’s electric vehicle production field, which rank among the world’s top 500 companies, as data. Starting from the identity of social constructivism, combined with the discourse-historical approach, and with the help of the corpus tool Wmatrix, the corporate responsibility reports and impacts of Chinese and American new energy vehicle companies are compared from the three dimensions of macro themes, meso communication strategies and micro language characteristics. Individuality and commonality in the construction of identity discourse in power reports. The study found that Chinese companies highlight themes such as industry rankings, development history, fairness and justice; they focus on corporate capability communication strategies, use quantitative markers and advanced adjectives to highlight the company’s strong strength, and actively construct industry leaders; while American companies emphasize employee care, global vision and sustainable development concepts, tend to communicate corporate social responsibility strategies, and use active verbs to present specific corporate activities and construct the identity of social contributors. This study has reference value for improving the ability of Chinese enterprises to construct international discourse.

Hyper-Collection: A Possible New Paradigm in Modern Surveillance

Corporations and governments have been in the business of collecting personal information for decades. However, recent trends demonstrate a prevalence for “hyper-collection”—the collection, analysis, and use of more information than is needed for truly legitimate commercial or legal purposes and in covert or passive ways. This prevalence by corporate actors to hyper-collect personal information of citizens as consumers is merely the latest iteration of function creep, but it has significant implications that have not, to date, been explored in the literature. This article seeks to identify some of the implications of hyper-collection, its root causes, and mechanisms that countries might adopt to avoid such outcomes.

Corporate sustainability reporting: double materiality, impacts, and legal risk

ABSTRACT Following the enactment of the Corporate Sustainability Reporting Directive and the creation of the European Sustainability Reporting Standards (ESRS rules), the European Union has set a new regime of mandatory corporate sustainability reporting in motion. However, most of the ESRS rules will be mandatory depending on, or subject to, the assessment of double materiality. This article sheds light on the double materiality requirement. More particularly, the analysis focusses on the materiality assessment of the impacts of corporate actions, the challenges involved in such determination, and the associated legal risks. Challenges examined include the legal risk in the company-stakeholders engagement process, the accuracy and completeness of reporting, and the uncertainty about the legal criteria for determining impact materiality. This article recommends (1) that a sound legal strategy guide the company-stakeholders interaction regarding external impacts, (2) that enforcement strategies be designed to accommodate unintentional greenwashing, and (3) that assurance practices for sustainability reporting be expeditiously implemented.