Financial Bottom Line Research Articles

The Clinical Nurse Specialist: Maximizing Return on Investment.

The United States health care system is facing an unprecedented nursing shortage, increasing complexity of care, and fewer experienced nurse mentors. These factors contribute to a cycle of burnout, turnover, decreased quality and safety, and a worsening financial bottom line. Improving these contributing factors depends on our ability to mitigate the structural causes of burnout and turnover. The clinical nurse specialist role is essential to improving the work environment, advancing evidence-based nursing practice, reducing turnover, and stabilizing the bottom line.

CSR research in the hotel industry: how it relates to promoting the SDGs

PurposeResearch suggests the hotel industry has grown to integrate corporate social responsibility (CSR) programs towards addressing issues relating to the sustainable development goals (SDGs). Nevertheless, how the progression of research has influenced the field of CSR and the SDGs remains unexplored. This paper aims to address the knowledge gap.Design/methodology/approachThe research is based on a review of 230 papers from Scopus Indexed Journals – both mainstream and specialty. A content analysis was conducted to identify the major themes and the evolution of CSR research in the hotel industry.FindingsRecent CSR research has tended to shift towards issues such as CSR communication and reporting from its earlier focus on the perceptions and practices of CSR. The SDGs, in general, and environmental sustainability, in particular, remain on the periphery of hotel industry’s CSR initiatives. This raises concern about the ability of CSR programs to facilitate the SDGs by 2030. This study highlights that both stakeholders (e.g. consumers, employees) and business forces (e.g. financial bottom line) can shape the hotel industry’s CSR strategies in contributing to the SDGs and greater sustainability.Originality/valueThe research advances the CSR and sustainability literature by undertaking a comprehensive review of business research on CSR in the hotel industry focusing on the SDGs, and advancing and facilitating discussion on existing knowledge in this field and how the field can be further developed.

Performance management in the Australian higher education system – A historically informed critique

This article aims to provide a historical perspective of neoliberalism and new public management practices in the Australian higher education system from the early 1980s to contemporary times. Drawing on historical and contemporary data sets and research articles, it evaluates historical changes in control systems and metrics applied to university teaching and research. From an audit culture framework, it examines the emerging rationales driving financially focused university governance. Organisational and individual audits of performance have become standard practice, couched in the conventional language of transparency, performance and accountability. Accounting-based performance measurement, control and audit are found to dominate university operations, fostering mass delivery of education, research outputs and knowledge commercialisation. Neoliberal performance management is shown to have dramatically altered accounting models and changed internal power relations, transforming university identities and roles into a commercialised corporate model pursuing a self-interested financial bottom line aided by a private sector performance control orientation.

La relation entre la performance sociétale et la performance financière des entreprises

In the current era of sustainable development, the integration of economic, social, and environmental dimensions into risk management has become imperative for businesses, particularly in emerging countries. This necessity has spurred the large-scale emergence of Corporate Social Responsibility, encompassing environmental, social, and societal aspects. Alongside this, the concept of Corporate Social Performance has evolved as a quantifiable and measurable indicator derived from CSR practices, reflecting effective stakeholder relationship management. This paper delves into CSP as a metric for social responsibility and its correlation with financial performance, aiming to shed light on the interaction between these two critical dimensions within organizations, especially in the context of emerging economies. Through this exploration, we aim to contribute to the understanding of how CSR initiatives can influence not just the societal impact of a company but also its financial bottom line.

Does the Directive of the European Union on disclosure of non-financial and diversity information improve reporting?

PurposeWhile in the past companies have voluntarily disclosed information beyond the financial bottom line, there is now a trend toward mandatory reporting in many countries. With the adoption of Directive 2014/95/EU, the European Union has taken a decisive step in this direction. However, research on the effects of these obligations is still at an early stage, particularly regarding Directive 2014/95/EU. Therefore, this paper aims to pursue the question of whether the directive has led to an improvement in reporting.Design/methodology/approachThe authors analyzed the reporting of the EURO STOXX 50 companies before and after the directive entered into force. To evaluate the improvement, the authors assigned the individual Global Reporting Initiative indicators to the different information requirements of the directive.FindingsOverall, the authors’ study revealed an improvement in reporting. However, this does not apply to all information categories. A significant improvement can be seen regarding the information on policies and due diligence, principal risk and non-financial key performance indicators. Institutional theory suggests that the observed improvements among these reporting-experienced companies can be understood as the result of coercive pressure triggered by the directive’s requirements.Originality/valueThe authors’ study contributes to the debate on the impact of non-financial reporting obligations by providing empirical insights into the effects of Directive 2014/95/EU. These insights can inform political and managerial decision-making, particularly in view of increasing reporting obligations.

ESG ratings and corporate financial performance in South Africa

PurposeThis paper examines the effect of ESG ratings and its dimensions (environmental, social and governance) on the financial performance of JSE-listed firms included in FTSE/JSE Responsible Investment Index.Design/methodology/approachThe paper employs panel data covering 40 JSE-listed firms included in FTSE/JSE Responsible Investment Index between 2015 and 2019. The paper employs the two-stage least squares (2SLS) instrumental variable regression technique to estimate the effect of ESG ratings and its dimensions (environmental, social and governance) on both accounting- and market-based performance indicators.FindingsThe results of the two-stage least squares instrumental estimation analysis reveal that investment in ESG initiatives improves both accounting- and market-based indicators of financial performance. Of the ESG pillars, the paper finds environmental initiatives improves firms' financial bottom line and market performance, while a firm's social and governance practices are observed to have no effect on a firm's accounting and market performance measures.Practical implicationsThe insights from this study proffers policy implications for firms' management, investors and regulatory authorities.Originality/valueAs far as the authors are concerned, this paper presents the first empirical analysis on the contribution of ESG ratings on financial performance in South Africa.

Path dependencies and sustainable facilities management: a study of housing companies in Sweden

ABSTRACT Facilities management (FM) of housing stocks has great potential to contribute to sustainable development, but the transition to sustainable facilities management (SFM) is complex and slow. The purpose of this paper is to investigate the challenges of transitioning to SFM for housing companies in Sweden in relation to practical and technical innovations like digitalization. Using a path dependency framework, and drawing on semi-structured interviews with 23 FM professionals, the findings reveal many technologies and practices that housing companies can adopt to transition towards SFM. However, their institutionalized path-dependent behaviour means they are unwilling to change, tend to avoid uncertainty, and overemphasize the financial bottom line. These new innovative solutions also present challenges, such as a lack of established business models and poor value for money. This study contributes insight into what path dependencies need to be broken, what behaviours need to be changed, what structures must be created, and what skills and knowledge must be developed to increase SFM in the housing sector.

From Waste to Luxury Fashion at Elvis & Kresse: A Business Model for Sustainable and Social Innovation in the Circular Economy

Managing landfill waste is essential to sustainable resource utilization. With a focus on the luxury fashion industry, this paper highlights the role that sustainable and social innovations can play in reducing environmental waste and improving social outcomes. Elvis & Kresse is a purpose-driven case study, because it was founded to eradicate a problem that had thus far received little attention, namely the problem of disposing of end-of-life fire-hoses. From a business model and circular economy perspective, this article explains how the company’s rescue–transform–donate model has helped to build a sustainable and socially oriented yet profitable luxury brand. The analysis of the case suggests that for scholars, the typical business model canvas merits some revision beyond the current business focus on the financial bottom line to account for the social and ethical dimensions. For practitioners, this case demonstrates how the circular economy can be compatible with luxury fashion by turning waste into durable, fashionable products.

Sustainable Palm Oil: What Drives it and Why Aren’t We There Yet?

Manuscript type: Research paper Research aims: This study explores the institutional pressure and motivation that drives Malaysian palm oil companies to embark on sustainability practices, and uncovers the impediments of substantive change in producing truly sustainable palm oil. Design/Methodology/Approach: A case study methodology was employed, gathering primary and secondary data through semistructured interviews with the company’s personnel and external stakeholders, through informal conversations and group discussions with company workers, document analyses, and observations. The neo-institutional and legitimacy theory were used as the primary lens to explain the study findings. Research findings: The results indicate that both external pressures and internal issues have forced the company to engage in sustainability practices – primarily through certification. Unlike the independent stakeholder pressure found in previous studies, a chain reaction of pressures was found from NGOs and competitors to multinational buyers, whom in turn put pressure on the case company, thus jeopardising their financial bottom lines. Regulatory pressures, conforming to the industry norms, wooing host country’s government, investors, and financiers add to the external motivation. Reputational problems and labour shortages, business case for sustainability, and the philanthropic nature of family-owned firms are the internal elements behind the endeavour. The barrier to change towards sustainability was mainly caused by cost concern, technical difficulties, mindset of workers, unsupportive business environment and impracticalities of safety equipment design. Originality/value: The findings shed light on the inner motive and barriers of change towards producing sustainable palm oil, the understanding of which is vital in driving further substantive changes in the palm oil industry towards sustainable development. Research limitation/Implication: The study was restricted to a single case company in the Malaysian palm oil industry and hence, generalisation of the study findings onto another context should be done in a cautious manner. Keywords: Organisational change, Neo-institutional theory, Legitimacy theory, Palm oil, Sustainability reporting and practice JEL Classification: Q56

THE ROLE OF DIGITALIZATION IN THE AIRLINE INDUSTRY PERFORMANCE AMID COVID-19: EVIDENCE FROM EMIRATE AIRLINE BALANCED SCORECARD PERFORMANC

A number of studies in the digitalization-organizational performance literature have evaluated airline performance from the traditional performance theory; yet, fewer studies have evaluated the role of digitalization to optimize organizational bottom line performance. In view of the importance of digitalization-organization bottom line performance, this study empirically evaluates the role of digitalization in the airline performance before and during COVID-19 using the balanced scorecard performance model in the sample study, Emirate airline between 2015 and 2020. Importantly, multiple Pearson Product Moment correlation and descriptive statistics methods were used to estimate the relationship among the balanced scorecards performance. Also, the differential impact was used to show the differential impact and recovery period between before-COVID and during COVID-19 on the balanced scorecards performance. The empirical results showed that the role of digitalization practices is more effective in non-financial bottom lines than financial bottom line at both before and during COVID-19 in this study. Further, the study concluded that digitalization practices before COVID-19 enhances non-financial bottom lines than financial bottom lines whereas the role of digitalization practices during COVID-19 enhances neither financial nor non-financial bottom lines in Emirate airline. Therefore, this study recommends the need for Emirate airline management to further intensify and integrate digitalization practices across all the balanced scorecard bottom lines, especially the financial bottom lines such as revenue, operating cost and net debts to remain immune from current and future external shocks as well as become financial and non-financial sustainable.

Creating a Rural Plastic Surgery Practice: Social and Financial Impacts.

Summary:In the United States, 25 million people are without reasonable access to a plastic surgeon. Previous studies have demonstrated that rural populations have limitations to healthcare, and these limitations result in poor quality of life and poor outcomes. New research points to the importance of rural plastic surgery, but still lacks clarity of what the creation and development of a rural plastic surgery practice may entail. Our aim with this study was to discover both the surgical compilation and financial impact of a single rural plastic surgeon’s practice. We reviewed the first 1.5 years of a single surgeon’s plastic surgery practice from its beginnings in a rural community at a critical access hospital with no previous plastic surgery presence. During the study period, the surgeon completed 2062 clinic visits and 305 surgeries. The practice involved approximately 70% hand surgery and the remaining general plastic surgery. The practice generated approximately $8 million in charges and $3.5 million in collections. Collections were broken down by $2.6 million in surgical procedures, $560,000 from clinical practice, and $330,000 from downstream revenue. A rural plastic surgeon’s practice may have noted positive impacts on medical care and financial bottom lines in rural communities.

A Dynamic Analysis of Supply Chain Risk Management and Extended Payment Terms

In this study, we employ system dynamics to study the combined effect of extended payment terms and a buyer's supply risk management practices on two outcomes: the supplier's bankruptcy risk and the buyer's financial bottom line. In conjunction with payment terms, we model the impact of two commonly recommended supply chain risk management (SCRM) practices: quick response to supply disruptions and use of a secondary (backup) source. Among other results, we uncover a feedback mechanism that contributes to the negative effect of extended payment terms on a supplier's finances and show that longer payment terms can worsen buyer outcomes, especially when the supplier faces a higher risk of disruptions. We also show that, when considered alongside extended payment terms, common SCRM practices may not always be beneficial for buyer firms. Our research suggests decisions related to SCRM and extended payment terms should not be made independently.

How Do You Measure a Year?

How Do You Measure a Year?

Online Capstone Projects Leveraging Technology for Low Budget Community Establishments

Two leading paradigm shifts are taking place in teaching-learning today that are expected to have major and long-lasting impacts. The first one is the current environment and restrictions due to COVID-19 has driven academia to evaluate alternatives to traditional education. The leading option being deliberated and studied is a robust and effective online platform with virtual classrooms using modern and powerful Learning Management Systems. The second paradigm shift is due to the rapid advances in technology and related services that are redefining the way business operates. This is instrumental in the effort to understand how these technical developments are reprioritizing functions that are affecting the company financial bottom line. These changes, in turn, are requiring academia to adjust and update their curriculums to meet the new market needs. In academic institutions, a capstone project is a powerful concluding exercise as the last course(s) of the program that effectively strengthens the student proficiencies to apply the knowledge they have learnt in the program to a real-world situation. Every academic program arranges and builds the requirements of its capstone project with its own program specific targets. This research evaluates online capstone projects in the programs and focusses on ways to benefit the community low-budget organizations with these projects using modern stateof-the-art technologies and available online resources. These projects are undertaken with minimal or no budget and with an aggressive schedule – exactly what these establishments need. This study begins with an examination of the traditional practices followed for a capstone project and establishes ways it strengthens the goals of the curriculum identified by the learning outcomes of a program. The analysis further recommends measures and methods to arrange the customer project to try and guarantee meaningful and market relevant learning experience for the leaners. This is expected to be beneficial in their professional careers later. Current conventional practices are assessed and those that yield the target results in a time-restricted format are noted. The results suggest that approaching and creating projects using these best-practices guidelines is a practical way of helping students gain significant hands-on experience with emerging technologies and, at the same time, implementing a valuable project for the benefit of the lowbudget establishments in the community.

Teaching multiple approaches to management to facilitate prosocial and environmental well-being.

Friedman’s maxim “The social responsibility of business is to increase its profits” (p. 32) has shaped what managers consider effective management. This Financial Bottom Line approach to management has been challenged by both Positive Organizational Scholarship (POS) and Critical Management Studies (CMS). POS highlights how enhancing prosocial and other nonfinancial considerations can increase profits, consistent with the current dominant Triple Bottom Line approach. In contrast, CMS tends to critique any approach that seeks to maximize profits by creating dysfunctional power symmetries and marginalization. This study introduces a third option, the Social and Ecological Thought approach, which promotes maximizing social and ecological well-being while remaining financially viable. A longitudinal pre-post intervention in a sample of undergraduate management students showed that teaching multiple approaches to management—Financial Bottom Line, Triple Bottom Line, and Social and Ecological Thought—resulted in learners becoming less likely to espouse profit-related goals (e.g. to maximize efficiency, productivity, profitability) and more likely to identify nonfinancial ones (e.g. extra-organizational prosociality and reduction of marginalization) when characterizing effective management. However, the results did not support predictions regarding intra-organizational prosociality and marginalization, or power asymmetries. We discuss implications for pedagogy and the future development of POS and CMS.

The impact of a teaching staff availability on educational process and OR efficiency in academic hospital

Background: The hospital's survival is dependent upon its ability to generate revenue. Operating room (OR) plays a vital role in a hospital's financial health by producing over 40% of its revenue. However, OR efficiency and productivity with their potential to increase returns can vary significantly between academic and private practice settings. The academic OR often lacks the managerial flexibility of private practices, limiting opportunity and maneuverability for initiatives. When the relative rigidity of academic practice is combined with the inherent time requirements and delays associated with the graduate medical education process, the task of improving OR efficiency and productivity in academic institutions becomes challenging.The aim of the study is to evaluate a teaching staff routine of intraoperative availability as a factor of influence on OR efficiency and productivity.Methods: In this prospective observational study, the authors analyzed a breakdown of the perioperative timeline of 100 general surgical cases performed at a tertiary academic medical center in Bronx, New York looking for critical factors affecting both educational contact time and OR efficiency.Results: The analysis revealed that the presence of the attending surgeon and anesthesiologist in the OR prior to the induction of anesthesia and at the time of wound closure increases educational contact time for the respective trainees and decreases non-operative time by approximately 20%. The immediate availability of teaching faculty at these two critical timepoints effectively decreases the overall case duration while increasing teaching contact time but shown to have minimal efficacy to prevent delays or improve conventional turn-over time.Conclusion: The reduced duration of the surgical procedure directly improves OR efficiency and through the potential reduction in overtime costs, it could also be a way to enhance a healthcare institution's financial bottom line.

Case study on the effects of a disability inclusive mindset in a large biotechnology company

PurposeEmployers increasingly seek a competitive advantage through inclusive hiring practices and recruitment of persons with disabilities. Early research indicates when employers consider individuals for their strengths rather than solely for their needs, the organization prospers. However, details about how companies pursue a disability inclusive workplace and the effect of those efforts are poorly understood.Design/methodology/approachAn inductive qualitative case study approach was utilized to understand one biotechnology corporation and their approach to recruiting, hiring, and retaining employees with disabilities. Individual and focus group interviews were conducted.FindingsResults suggest that when the company lives its mission around wellness and inclusivity, they benefit from working with and learning from a range of perspectives, furthering their growth. Placing equal emphasis on hiring a diverse workforce and prioritizing supports and wellness practices lead to greater productivity and innovation.Practical implicationsThis study illustrates how one company successfully recruits and hires persons with disabilities, resulting in benefits to their financial bottom line and to the organizational culture.Originality/valueThis paper offers insights for other companies intentionally hiring persons with disabilities, providing accommodations in the workplace, and creating an organizational culture where all employees feel valued and supported. These steps have a direct impact on employee engagement, productivity, and retention.

Higher Degree Students (HDR) during COVID-19

The wellbeing of higher degree research (HDR) students, or postgraduate students during the COVID-19 pandemic has been of concern. In Australia, international students have queued for food parcels, while headlines report stark drops in international enrolments and the financial bottom line of universities. We undertook a pilot study using ethnographic interview methods to understand the lived experiences of current international and domestic HDR students at an Australian university in Melbourne, from June to August 2020 (n=26). In this paper, we discuss domestic and international students’ experiences during the pandemic. International HDR students faced similar challenges to domestic students, but experienced further stressors as temporary migrants. We discuss their experiences in relation to resilience, understood as a relational and collective quality. We suggest that institutions develop policies and programmes to address resilience and build students’ sense of belonging and connection, informed by how students cope with challenges such as COVID-19.

Decisions by Key Office Building Stakeholders to Build or Retrofit Green in Toronto’s Urban Core

The environmental impact of greenhouse gas emissions from buildings—especially in global cities such as Toronto—is well documented. Green mitigation of new and existing buildings has also been researched. Few studies, however, have focused on the decision to build or retrofit green. Are key stakeholders in Toronto’s office building sector aligning their decisions to achieve sustainable environmental goals? Do they support LEED certification regardless of the impact on market valuation? Are tenants willing to pay higher rents in LEED office buildings? The study first obtained data on 16 LEED and 52 conventional buildings to determine if LEED certification has a significant impact on net asking rent. Pearson correlation and linear regression analysis did not find LEED certification to be statistically significant in explaining the variance in net asking rent (market value). The second stage included interviews with senior executives engaged in Toronto’s office building sector. The expert informtabants were asked to assess if financial drivers are the deciding factor in decisions to pursue LEED certification. They concurred that LEED certification is not the primary driver. It is a combination of numerous factors that overall have an impact on a firm’s financial bottom line.

Measuring the Impact of Shared Value. A Business Case

Shared Value is a concept that since its inception in 2011 has attracted the interest of academics, governments, businessmen and decision-makers in all areas. It is through this first exploratory study that is illustrated as a sample of three Central American companies create this value and how important this creation is for companies and society when is measured. Traditionally, the creation of value in the three dimensions of sustainability has not been quantified at the enterprise level, although it is mentioned in the reports of those that use the GRI but without trying to estimate a measure of this intrinsic value in the concept of sustainability. The liberal use of concepts of Sustainable Development, Sustainability and Corporate Social Responsibility, sometimes confusing, does not propose its measurement with the exception of the Corporate Sustainability model that only records the total financial bottom line without intending to separate it into its three dimensions. The study is exploratory and descriptive with a focus on measuring the phenomenon under study using a meta-matrix created based on the theory of Shared Value. The results of the research are represented in the matrix, which allows to open the pattern of continuing to measure more cases, has been raised in the Harvard Business School in Global Impact Council in December 2019 from this three cases from three different Central American countries: El Salvador, Honduras and Nicaragua. Finally, this research offers a discussion and proposal to study about Measuring Shared Value and the Ratio Social Value - Private Value