Corporate Activities Research Articles

Corporate socio-political activism and retail investors: Evidence from the Black Lives Matter campaign

This study investigates retail investor responses to corporate engagement in corporate socio-political activism (CSA). Using manually collected evidence of companies' support for the Black Lives Matter (BLM) campaign, we find that speaking up in support of BLM attracts retail investor attention. However, it influences their investment decisions only if speaking up is backed up by a monetary donation to BLM-related causes on the same day. This effect is observed for companies that have black directors on their board and companies headquartered in Democrat-leaning states. There is no corresponding increase in firm value. Our results suggest that retail investor preferences for companies that engage in CSA are likely guided by moral sentiment.

TAX CRIMINAL ACCOUNTABILITY ON CORPORATE ACTIVITIES

Tax criminal liability to corporate actors is an important issue that needs attention in the business world. Tax is a very important source of state revenue, so its implementation must be done honestly and transparently. This study discusses the criminal liability of taxes on corporate actors. This problem becomes important considering the many cases of tax avoidance committed by companies, so that it becomes a challenge for the state in obtaining income from taxes. The aim of this study is to explore the concept of tax criminal liability to corporate actors and the factors that influence it. This study uses a qualitative approach with a literature study method that refers to data from books, journals, and related regulations. The data obtained were then analyzed using qualitative analysis techniques to produce relevant findings. In this study, it was stated that corporate actors have a responsibility to pay taxes and carry out tax obligations. Tax evasion by corporate actors can be considered as an irresponsible act and violates business ethics. Therefore, efforts are needed to increase awareness and social responsibility for corporate actors in carrying out tax obligations.

FULL DISCLOSURE AND MATERIAL INFORMATION PRINCIPLE FOR BACK DOOR LISTING COMPANIES

This paper provides an analysis of the private company transactions in Indonesia known as BDL that are not listed on the stock exchange. The focus of this paper is on the significance of disclosure and material information for companies engaging in "back door listings." The research methods employ normative legal research with a legal perspective. This research relies on main legal materials, namely Financial Services Authority Regulation 7/POJK.04/2017 on Registration Statement Documents. Meanwhile, secondary legal resources are legal materials that explain main legal materials. The findings proved that Investors should be wary of BDL stock transactions in Indonesia as they are often not overly regulated by comprehensive listing laws and are vulnerable to signs of fraud. Hence, investors are advised to avoid investing in BDL companies. In terms of implementing BDL in Indonesia, corporate action by way of acquisition must have the same standard of Principles of Openness (Full Disclosure) and material information that applies to IPO’s by revising Investment Law and Limited Liability Company Law as well as Financial Services Authority Regulation Number 7/POJK.04/2017 concerning Documents Registration Statement for Public Offering of Equity Securities, Debt Securities, and/or Sukuk by authorizing OJK to conduct a SWOT analysis (strengths, weaknesses, opportunities, and threats).

ВПЛИВ ТРАНСНАЦІОНАЛЬНИХ КОРПОРАЦІЙ НА ЕКОНОМІЧНИЙ СВІТОГЛЯД В УМОВАХ КОНКУРЕНТНОГО ПРОТИСТОЯННЯ

In the conditions of rapid development of globalization processes and competition in the world economic space, TNC has a significant impact on the economic outlook of society. The activities of many transnational corporations not only allow states to develop economically, but also such processes contribute to the solution of a large number of problems at the social level: environmental protection, development of medicine, improvement of education, increase in quality of life. Over time, TNCs change the economic worldview, therefore it is necessary to conduct a timely study of the activities of these companies in the conditions of modern competitive confrontation in order to identify the prospects of their management. The aim of the article is to analyze the state of transnational corporations and research their impact on the economic outlook in the conditions of modern competitive confrontation. Methodological basis of research was logical methods of information processing, statistical analysis, methods of system analysis, comparison. The basic hypothesis of research was the assumption that the efficiency of the national economy, economic outlook, level of integration and international competitiveness depend on the success of TNCs, because they are the largest players in the world economy. Presentation of the main material. The dynamics of TNC development are analyzed. It was determined that the geographical structure of TNCs is gradually changing in today's conditions. It has been studied that financial companies have gained clear advantages over industrial corporations in the competitive struggle, which as a result has a significant impact on the development of the economic outlook. Originality and practical meaningfulness of research. It is advisable to use the conducted research to increase the international competitiveness of the national economy by using the investment activities of TNCs in the conditions of deepening globalization. Conclusions. The state and the corporation are global "institutions" that have developed in various branches of the global economy and in various historical periods of the formation of the economic outlook. Both institutions can serve for the benefit of the population and contribute to its prosperity, or they can take destructive steps, not based on the concepts of morality and law.

Analysis on the Responsibility of Transnational Corporations to Protect Human Rights

With the acceleration of the process of world economic integration, the overall strength of multinational corporations is becoming stronger and stronger, and profoundly affects the world's politics and economy, and gradually forms a new pattern of powerful countries. Multinational corporations have played an active role in promoting global economic development and improving international people's livelihood. However, the actions of some multinational corporations have had a positive impact on their actions at the expense of human rights. More and more multinational companies have caused serious harm to human health due to violations of labor standards and environmental pollution. On this issue, the international community generally attaches great importance to the relationship between transnational corporations and human rights. Therefore, in recent years, the issue of human rights responsibilities of transnational corporations has become a common concern in the world. In this context, this study analyzes the human rights violations of transnational corporations, and from the perspective of the current international predicament, puts forward suggestions to improve international legislation and establish responsibility mechanisms of companies, home countries and host countries.

India digitalized: surveillance, platformization, and digital labour in India

ABSTRACT This article critically engages with the rationale of Digital India, a flagship programme of the Government of India, launched in 2015. It argues that this programme has been instrumental for the state and the corporate sector in order to steadily create a system of surveillance capitalism which collects the users’ behavioural data. The article analyses these problems by looking at the rise of platform economy throughout the second decade of twenty-first century, the demonetization of 2016 and the subsequent rise of power of digitality in the everyday life in India. The article problematizes our relationship with technology and demonstrates that India's digitalization is a project by the state and the corporate sector aimed at controlling the population by using the behavioural data, which is extracted when a person engages with any platform as a digital labourer. Moreover, the article emphasizes a complex relationship between the human and non-human agencies that emerges out of the digitalization of everyday life, and how this relationship, through the control mechanisms put into place by the state and corporate actors, enslaves the population and deprives it of liberty and independent selfhood.

A practical framework to guide collaborative environmental decision making among Indigenous Peoples, corporate, and public sectors

Resource extraction activities in Indigenous traditional territories require decision making that provides equitable and effective engagement with Indigenous communities, as rights holders rather than stakeholders. Through a knowledge co-production process in Canada involving corporate actors, settler government agencies, and Indigenous nations, we developed an empirically-grounded framework that articulates values, principles, and good practices to guide collaborative environmental decision-making. The framework rests on a core value calling for a recognition and honouring of Indigeneity and Indigenous self-determination and contains four central non-hierarchical and interrelated principles: mutual respect and commitment, effective communication, social and economic inclusion, and reciprocal relationships. Each principle supports specific practices. We also identified systemic and technical barriers to effective engagement and examined how the framework can address these barriers. Our framework illustrates an approach to and the value of knowledge co-production by providing a concrete, accessible, and practical tool that can promote engagement of and reconciliation with Indigenous Peoples. The principles, while developed in a particular context, may spur positive transformation in relationships by encouraging cross-cultural understanding, building ethical relations between resource developers and Indigenous Peoples, supporting economic and social capacity for all parties, and strengthening Indigenous political authority through respectful recognition.

Communicative Perfectionist Strategy in the Representation of Industrial Companies Performance

The article considers verbal elements of perfectionism as a communicative strategy of promotional discourse in annual reports of large industrial companies for the representation of outstanding company performance aimed at developing a positive public image. A sampling of 2882 contextual occurrences of keywords with the perfectionist semantics served as the material for the research (best, maximum, high, improvement, increase, increase, growth). The keywords characterized inherent corporate activities. Research methods – statistical sampling and content analysis. According to the obtained results, perfectionism penetrates through the key company activities – production of high quality products, socially responsible corporate governance, improvement of financial management, implementation of best practices for the use of energy resources, increase in personnel involvement by means of effective monetary compensation and nonmonetary benefits, ensuring a high level of social protection for employees. Less numerous data were obtained in business process management, health, safety and environmental protection, digital technologies. Perfectionism in annual reports accentuates needs and interests of the target audience – high quality products, social well-being, including customers, investors, stakeholders, employees, and citizens of presence regions.

Assessment of the activities of the agricultural credit corporations as a development institution

In the article, based on the public reporting materials of JSC «Agrarian Credit Corporation» for the period from 2017 to 2021, its activities as a development institution that finances agricultural entities are analyzed. A sufficiently detailed assessment of the financial condition of the Corporation itself was carried out. Financial and operational indicators are studied in dynamics, changes in the assets, liabilities and capital of the corporation, as well as the final financial results of the Corporation’s activities are shown. The changes in income and expenses of the corporation were studied and assessed, which made it possible to substantiate the level of efficiency of its activities. As a result, the indicators of the effectiveness of the use of assets ROA and the indicator of the efficiency of the use of equity ROE were calculated, which are characterized by high values. It was noted that in order to expand the coverage of agribusiness entities with credit funds, the Agrarian Credit Corporation uses various financial instruments: direct lending and funding of financial institutions. The volumes of borrowings are considered in dynamics and their importance in increasing the amount of financing of agricultural producers in the industry is shown. Such borrowing made it possible to identify the main creditor of the Corporation, which annually provides loans for lending to spring field and harvesting work through the Ministry of Finance of the Republic of Kazakhstan and loans from other financial institutions for subsequent lending to agribusiness entities. This indicates that this corporation will continue to act as the main financial institution for the development of agriculture.

The opioid industry document archive: New directions in research on corporate political strategy.

The opioid crisis in the United States has resulted in more than 500,000 deaths since 1999, and recent estimates suggest that attributable deaths could reach 842,000 by 2032. While heroin and synthetic products such as fentanyl now account for the majority of opioid overdoses, the prescription opioid crisis that emerged in the mid-1990s was the primary antecedent to the current situation. Recent settlements in litigation against opioid producers, suppliers and retailers has resulted in the release of almost 2.5 million previously confidential internal documents that have been made publicly accessible via the online Opioid Industry Documents Archive, a collaboration between the University of California, San Francisco and Johns Hopkins University. These corporate records provide critical insights into the operations and strategies of manufacturers and other actors in the opioid supply chain. This article describes the provenance of the opioid documents and their potential value as a research resource. It then outlines methodological approaches to their analysis, drawing on comparisons in conducting research using the Truth Tobacco Industry Documents. The Opioid Industry Documents Archive is a new and important addition to existing industry document collections that enable scrutiny and analysis of the role of corporate actors in determining health outcomes. Beyond their immediate application to researching the corporate and regulatory foundations of the current opioid crisis, the opioid document collections will contribute to a greater understanding of the commercial determinants of public health by providing means to better locate the causes of public health crises, identify politically acceptable solutions to their resolution, and inform strategies for preventing future corporate-driven epidemics.

Animal Resistance in the Global Capitalist Era

Animal Resistance in the Global Capitalist Era

Optimal Policies on Education Training for Employees Using Maintenance Modeling Aspects

Employee training is essential for corporate activities to improve their production efficiency and product quality. The most representative two types of employee training are known, i.e., on-the-job training and off-the-job training. Off-the-job training can be classified into two types, i.e., compulsory training and non-compulsory training. Safety training and compliance are known as compulsory training, and they are needed to ensure that daily work continues without serious problems. Compulsory education is undertaken in a classroom every year by all employees of a department or section. Daily e-learning is effective for complementing and enhancing mandatory education and it helps employees to remember what they have learned during their annual education. In this paper, we discuss optimal employee safety education models that are complemented and enhanced by e-learning. The expected cost rate of education is expressed using the imperfect maintenance model, and the optimal policies that minimize it are discussed.

The corporate effect: Making capitalist space and peasant dispossession in the Peruvian Andes

This article interrogates the apparently self-evident existence of a road called the Corredor Minero del Sur (Southern Mining Corridor) that connects multiple mega-mining projects in the Andean highlands with export markets elsewhere. It builds on Neil Smith’s theorization of “space as a means of production” to illuminate the discursive practices and legal measures that reimagine “unruly” peasant territories as an “orderly” mineral transport corridor, thereby drawing rural space into a global copper production chain. Through a contemporary history of social conflicts surrounding the Corredor, I demonstrate how corporate and State actors work together to make corporations appear as if they were independent from the social contexts in which they operate and therefore free from responsibility for the harms they cause. Following Timothy Mitchell, I call this the “corporate effect.” This effect, I argue, is essential for conjuring capitalist space like the Corredor because it conceals how peasants are dispossessed of both their lands and a political language for claim-making. To illustrate this, I highlight three processes driving the corporate effect: dissimulation, recategorization, and abstraction. Together, these practices produce extractivist arrangements of law, property, and jurisdiction to create new spaces for governance and capital circulation in the margins of the Peruvian state.

Stock Return of Companies on the Indonesia Stock Exchange: A Comparative Study Before and After a Stock Split

A stock split is one of the corporate actions that the company can take to reduce the nominal value of the share price. A stock split is done by increasing the number of outstanding shares to encourage more share trading. This study aims to test whether there is a significant change in the performance of stock returns before and after the stock split operation. This study will use a quantitative research methodology, and the sampling strategy will be purposive sampling. These two things will go hand in hand. The data type used is secondary data, which is the daily closing price of shares. These prices are then processed so that the stock returns can be calculated. The length of time for the study was 20 days, starting ten days before the stock split activity and ending ten days after the stock split activity. This is done according to the stock split date. Because the normality test results showed that the returns obtained before and after the stock split are not normally distributed, the Wilcoxon marked rating test applied in SPSS version 25 will be used to test the hypothesis regarding the distribution of returns before and after the stock split. Hypothesis testing resulted in the conclusion that there is a substantial difference between return and stock split. This conclusion was reached based on the test findings.

Riskiness of value-creating corporate activities and their influence on strategic management of engineering companies

Riskiness of value-creating corporate activities and their influence on strategic management of engineering companies

Corporate Actions, Earning Volatility, And Exchange Rate Influence On Stock Price Stability

The purpose of this study is to examine the factors that influence stock price stability as proxied by stock price volatility in the era of the Covid-19 pandemic. This study investigates empirically by utilizing the independent variable of corporate action, which is represented by dividend policy, earnings volatility, and exchange rate. Meanwhile, in this study, the dependent variable is stock price stability as measured by stock price volatility. The instance.The consumer goods industry sector companies listed on the Indonesia Stock Exchange (IDX) were used in this study with the purposive sampling method from January to September 2022. A population of 163 companies and a sample of 53 companies were used. Secondary data is used in the analysis, and descriptive statistics, classic assumption tests, multiple regression analysis, and hypothesis testing are performed using SPSS 26.0 software. According to the findings of this study, variable earnings volatility and exchange rates have no effect on stock price stability as proxied by stock price volatility, while corporate action as proxied by dividend policy has an effect on stock price stability as proxied by stock price volatility.

The Determinants of Corporate Innovation: Evidence from Chinese Listed Companies

This paper focuses on corporate innovation determinants among listed firms in China, where economic growth and development are largely driven by corporate activities. Despite this, it remains unclear how firms can most effectively develop through innovation. Thus, we investigate the determinants of corporate innovation by examining firm-level characteristics and propose potential solutions to improving innovation. Our unique dataset from multiple sources provides valuable insights for policy-making and investors, highlighting the need for government guidelines to further promote innovative firms in China. This study substantially advances our understanding of corporate innovation in China and provides practical recommendations for policymakers and investors alike.

Financial Security of Economic Entities: Macroeconomic Aspects

Throughout the post-reform period, the Russian economy was influenced by crisis processes, which significantly caused threats to the economic security of economic entities and its financial component. At the same time, financial difficulties of commercial organizations can be associated not only with the effects of periodic crises and systematic risks, but also with the effectiveness of business process management. This article examines the trends in changing the financial parameters of the activities of organizations in the non-financial sector of the economy, identifies the causes and consequences of negative changes in their financial condition that threaten economic security. The author considers the problem of the imbalance arising in the relations between banks and commercial organizations - potential and existing borrowers. The control of banking structures by the Central Bank has led to a reduction in commercial banks that implement high-risk operations. Inefficient activities of enterprises and organizations are virtually uncontrolled and regulated only by the institution of bankruptcy. A new trend in the activities of large corporations has been identified, which consists in diverting non-current assets into long-term financial investments, while allowing strategic miscalculations related to the possibility of innovative development.

Why the COVID-19 Crisis Is an Ethical Issue for Business: Evidence from the Australian JobKeeper Initiative

The COVID-19 virus was unveiled to the world as a health crisis and later also as an economic crisis. For some organisations, it has become an ethical crisis. This is certainly the case for large organisations in Australia, where the way many enterprises handled a government wage subsidy called JobKeeper led to a public backlash, media pressure, and a variety of responses ranging from ‘We acted legally’ to the full return of the subsidy. Some organisations later reported profits, and the public response indicated concern about this behaviour, many considering it immoral despite it being legally compliant. It is, we contend, a question to which stakeholder theory can be applied, examining how organisations view and respond to the public. We use content analysis of mainstream media to provide information about public reactions and information from official sources to confirm corporate action. We show that there is a significant ethical component in the public response to the behaviour of organisations as they respond to the crisis. COVID has been an ethical, health, and financial crisis for these organisations. Public pressure, exerted in and through the media, made the general public a definite stakeholder.

The Side Effect of Political Standing: Corporate Activism and Its Impact on Stock Returns

Taking sides on controversial political issues such as gun control, abortion, immigration, or diversity is increasingly common among large companies. What remains unclear, however, is whether this type of strategy—known as “corporate activism”—has positive or negative effects on these companies. The use of the concept of corporate activism on different variables affecting the companies is relatively recent. This article analyses the effect of corporate activism on the stock market performance of US companies through the analysis of the sample collected. Although there are some recent articles published on this topic, none of them measures the risk associated with the use of this type of strategy. For the development of the research, the well-known Fama–French modelling framework is applied to estimate the differences between companies that participate in corporate activism initiatives versus those that remain outside this strategy. The findings complement previous research showing that companies that use corporate activism have lower market risk than companies that do not engage in this type of strategy. These results can be useful in identifying the advantages and disadvantages of corporate activism initiatives and, in addition, they can also help companies to evaluate the use of corporate activism as a strategic tool and as a driver of social change.