Global Companies Research Articles

The advisory body on animal ethics of a global pharmaceutical company: A global organization to address ethical and societal concerns about animal use.

How do you promote ethical principles on a global scale regarding the use of animals for scientific purposes within a global pharmaceutical company like Sanofi? In 2017, the Advisory Body on Animal Ethics (ABAE) was created to harmonize animal ethics across all Sanofi sites. As an advisory body to the Bioethics Committee, the ABAE addresses societal concerns related to the use of animals and develops corporate policies on critical topics. Its composition, objectives and operating processes are described, along with the results achieved. Emphasis is placed on responsibilities, training and the promotion of a culture of care. The existence of an advisory body such as the ABAE can be replicated in other institutions to demonstrate commitment to an ethical approach to the use of animals worldwide.

Impact of Operational and Financial Efficiency on Aviation Stock Prices: A Machine Learning Model with SHAP Interpretability

Using a machine learning approach, this study examines how operational and financial efficiency metrics influence stock prices in the aviation industry. A CatBoost regression model enhanced with SHapley Additive exPlanations (SHAP) was developed using data from 65 global aviation companies collected between 2015 and 2023. The model predicts stock prices based on various operational and financial indicators, including Total Revenue per Available Seat Mile (ASM), Passenger Load Factor, liquidity ratios, and debt-to-assets ratios. The findings suggest that operational efficiency metrics, particularly Total Revenue per ASM and Passenger Load Factor, play a significant role in predicting stock prices within the aviation sector. Financial metrics, such as the Quick Ratio and Debt-to-Assets Ratio, also contribute to the model but appear to have a secondary influence compared to operational factors. SHAP values provided interpretable insights into the model's predictions, allowing for a better understanding of the relative importance of different features. Furthermore, the study's findings offer support for the semi-strong form of the Efficient Market Hypothesis (EMH), demonstrating that operational and financial metrics are reflected in stock prices. These results indicate that aviation companies demonstrating higher operational efficiency may be better positioned for favorable stock market performance, although financial health remains important. This study contributes to the existing literature by integrating operational and financial metrics into a machine learning framework, offering a comprehensive and interpretable model for stock price prediction in the aviation industry.

Gambling advertising regulation in Ghana: what do we know and where to next?

In Ghana and many other sub-Saharan African countries gambling advertising has become pervasive due to weak regulations that allow gambling operators to zealously promote their products as a risk-free way to make money. In this commentary, we provide a public health perspective based on document analysis of the Ghana Gaming Commission's guidelines on advertisements, and recommendations for strengthening Ghana's gambling regulatory environment. With the industry intensifying its focus on new markets to grow and sustain profits, and new global players entering Ghana's market, the competition for market share will most likely intensify with an associated and aggressive increase in gambling advertising. Accordingly, a strengthened gambling advertising regulation underpinned by public health principles is required to restrict advertising across all forms of media and regulate advertising content. The next step for public health action should focus on advocating for new gambling advertising regulations and a review of the Gaming (gambling) Act.

Beyond Ownership: The Role of Institutional Investors in International Corporate Governance

Beyond Ownership: The Role of Institutional Investors in International Corporate Governance

Digital Authoritarianism and the Global Technology Industry: Evidence from Iran

Abstract The purchase of commercial spyware by at least 43 authoritarian states has drawn attention to the links between the international private technology trade and autocrats. This article sits at the intersection of the literatures on the international relations of authoritarian regimes, digital authoritarianism and the political economy of authoritarianism, asking, what impacts, if any, do the foreign technology trade relations of authoritarian regimes have on authoritarian resilience? Building a four-mechanism model to explain the interaction between the private technology trade and digital authoritarianism, the article then tests the model on a case study of Iran. It argues that while global technology companies lack the ideological or geopolitical interests that drive the engagement between authoritarian regimes and foreign states, an intense overlap in interests still exists between profit-hungry private technology companies and technology-hungry regimes. This facilitates the establishment of mutually beneficial relationships that contribute to authoritarian resilience and survival, however inadvertently.

A managerial perspective on the determinants and outcome of digital transformation in multinational corporations in Malaysia

The primary objective of this study was to examine the antecedents of digital transformation (DT) within multinational corporations (MNCs) in Malaysia, from the perspectives of corporate managers. Amidst limited research on DT within the MNC context, this paper examines the key drivers of DT in Malaysian MNCs. A quantitative method using non-probability sampling was used to gather the required data via the distribution of questionnaires among the MNCs’ managers. To evaluate the underlying theoretical model based on the collected data, we chose SmartPLS as the preferred method. Findings revealed that business value, digital leadership, inter-functional coordination and decision-making quality were significant drivers of DT, while DT exerted a positive influence on business performance. However, collaborative innovation did not have a significant relationship with digital transformation adoption in MNCs. The findings offer novel insights for both academics and international corporate managers, enhancing their understanding of the drivers behind DT adoption from the perspective of managers within MNCs in Malaysia.

Navigating Uncertainty: The Impact of Economic Policy on Corporate Data Asset Allocation

In the digital economy era, the role of data assets in creating new value for companies has become increasingly prominent, while economic policy uncertainty is also a key factor influencing corporate decision-making. This study examines whether economic policy uncertainty affects the allocation of corporate data assets. It finds that increased economic policy uncertainty raises operational risks for high-tech companies, leading to increased data asset allocation, while for low-tech companies, increased operational costs and risks reduce data asset allocation, though higher operational risks may compel them to increase data asset allocation. Additionally, internal corporate factors also influence data asset allocation to some extent; companies in good financial standing with ample technological reserves are more inclined to increase their data asset allocation. This paper reveals the internal mechanism by which economic policy uncertainty affects corporate data asset allocation, providing a basis for low-tech companies to transition from traditional business models to digital enterprises and for strategic planning by high-tech companies.

A quantitative analysis of ESG disclosure and financial performance in renewable energy companies: a two-step approach using unsupervised machine learning

Purpose In the era of Industry 5.0, understanding the balance between environmental, social, and governance (ESG) and firm performance is crucial for mitigating climate change and enhancing financial outcomes. This paper aims to analyze the effect of ESG disclosure on the financial performance (FP) of renewable and clean energy (RCE) companies, focusing on the combined ESG disclosure and individual E, S, and G disclosure scores. Design/methodology/approach The study analyzed a panel data sample from 2015–2021, covering 41 RCE companies. By applying the K-means++ clustering technique, the research also explored how firm-specific features influence the relationship between ESG disclosure and FP. The Bloomberg database and audited financial reports were used to gather the data for the study. Findings The findings indicate that increased ESG disclosure positively influences FP. Further, a significant positive relationship exists between FP and a company’s E and S disclosure. However, firm-specific characteristics significantly influence this relationship. Findings suggest that a company’s commitment to comprehensive ESG efforts enhances financial efficiency rather than increasing costs. Originality/value This study adds to the ESG-FP literature by emphasizing global RCE companies, a key player in sustainability. Further, to the best of the author’s knowledge, the study’s uniqueness is attributed to its application of a two-step approach, combining ESG-FP analysis with K-means++ clustering to account for firm-specific characteristics. It also uniquely examines the individual impact of E, S, and G disclosure on the FP of global RCE companies. The findings offer valuable insights for businesses and policymakers in developing strategies that improve profitability while addressing climate change risks.

Waste Management Strategies to Achieve Circular Economy in Korean Pharmaceutical & Biotechnology Industry: Implications and Development Plans from Global Cases

Objectives : As the importance of ESG in industry increases, global pharmaceutical & biotechnology companies are actively adopting circular economy principles in alignment with ESG reporting standards. With stricter environmental regulations emerging in Europe and the U.S., it is necessary for Korean companies focusing on the CDMO (Contract Development and Manufacturing Organization) to adapt to the changes. This research aims to provide suggestions for Korean companies to secure global competitiveness by improving their waste management strategy based on the circular economy through the case of global companies.Methods : The waste management and circular economy strategies of the global top 10 companies, waste management leaders, and Korean pharmaceutical and biotech companies (Yuhan, Hanmi Pharm, Celltrion, SK Bioscience) were analyzed in three stages: plastic waste reduction, value chain management, and take-back policies.Results and Discussion : Global companies were disclosing quantitative achievements in their plastic reduction strategies, introducing solutions in the transportation process that included supply chains, and establishing extended producer responsibility legislation (EPR) policies for pharmaceuticals and medical devices. In contrast, Korean companies lack detailed goals and measurable outcomes in these areas, with limited participation in global initiatives and insufficient EPR strategies due to a lack of government regulation.Conclusion : Korean pharmaceutical & biotech companies should establish strategies, such as upgrading plastic waste management systems, converting packaging materials, joining initiatives, and introducing take-back programs, with transparently disclosing their performance to achieve circular economic goals and strengthen their competitiveness in the global market.

The new multipolar world order and the south Caucasus

The article will analyze the obvious phenomenon of changing global architecture of world power and domination in the 21st century, which implies the transition from the unipolar dominance of the United States of America to a multipolar world order. In addition, the impact of the mentioned global changes on the South Caucasus region will be discussed. This article aims to analyze the changes from unipolar to multipolar world order in terms of economics, military balance, security, political conditions, and subsequent challenges for the South Caucasus. The South Caucasus region is already facing complex problems caused by the recent changes in global great power politics. The article analyzes in detail the interests of global players in relation to the countries of the South Caucasus region, their actions in the past, present and actions expected from them. The presented article is also important from the point of view that only a few articles and works have been published about the South Caucasus region in the context of the transition from a unipolar system to a multipolar system, but given the current processes in the region, readers' interest in the topic is great.

Abuse of patent rights for pharmaceuticals in wartime conditions

The article addresses the issue of patent rights abuse in relation to pharmaceuticals during wartime conditions. The aim of the study is to summarize the problems of patent rights abuse in the national legislation, identify ways to resolve them, and formulate conclusions to reduce such abuses. The study employs general scientific and specialized methods of scientific cognition, including dialectical, formal-logical, system-structural, comparative-legal methods, as well as modeling, analysis, and synthesis. Together, these methods facilitated the organization, planning, and execution of the research. The information search covered the period from 2001 to 2024. The study is based on scientific publications from databases and search engines (PubMed, JAMA, Scopus, Springer, BMC, Oxford Academic, Cairn.info), international and domestic legal acts, statistical studies of international organizations (Precedence Research, Statista, Proxima Research), patents on inventions related to pharmaceuticals, court rulings, and the recommendations of international and domestic experts. The inclusion criteria for materials were scientific articles, legal acts, court rulings, and analytical reviews related to pharmaceutical patent rights, patent monopoly abuses, "evergreening" patents, and unfair competition in the pharmaceutical industry. The following search queries were used: "abuse of patent rights on pharmaceuticals," "patent monopoly in the pharmaceutical industry," "evergreening patents," "unfair competition in the pharmaceutical market," and "intellectual property in wartime conditions." Exclusion criteria included sources unrelated to the legal regulation of pharmaceutical patents, materials not directly connected with patent rights, and publications that did not meet scientific standards and credibility. It has been determined that patent monopolies can lead to higher drug prices, the prevention of generic drug production, import dependency, reduced competitiveness, and other consequences. Additionally, the creation of "evergreening" patents affects competitive relations, representing a form of unfair competition. Examples of patent monopolies in pharmaceuticals owned by major global pharmaceutical companies (Gilead, Merck Sharp & Dohme Corp., etc.) were examined. Attention is drawn to the problematic aspects of legislative implementation to strengthen the protection of individuals’ interests in the field of intellectual property during martial law, which leads to misinterpretation and implementation of relevant provisions and requires updating. Court cases of pharmaceutical companies regarding the artificial maintenance of patent monopolies and the blocking of generic drugs entering the Ukrainian market were analyzed. The need for updating and improving the legislative mechanism for regulating the validity of invention patents has been emphasized.

GLOBAL ASPECTS OF MICRO- AND MACRO-DEGREE MANAGEMENT INSTALLATION

This paper aims to explore the global aspects of micro- and macro-degree management installation in response to the increasing complexity of modern organizations and the necessity for effective decision-making at different levels. The study investigates various factors, challenges, and strategies related to implementing degree management practices in different organizational contexts. Case studies from diverse industries and global companies are examined to provide a comprehensive understanding of global degree management installation. The findings emphasize the significance of aligning micro and macro aspects of degree management to achieve organizational success in an evolving global environment. By delving into the nuances of degree management installation globally, this manuscript contributes to a deeper understanding of how organizations can effectively manage degrees at both microscopic and macroscopic levels, thereby enhancing decisionmaking and overall organizational performance.

Концептуализация экологической политики: анализ российского и зарубежного законодательства в контексте обеспечения экологической безопасности в Арктике

The Arctic has become an area of heightened interest for many nations, with environmental issues in the region remaining a critical subject of discussion. Countries such as China, the EU, and the USA have expressed their interest in shaping the environmental agenda in the Arctic. To prevent environmental conflicts and find mutually acceptable solutions, it is essential to study the distinctive features of the environmental policies adopted by these major global players. This article presents the results of a study aimed at identifying differences in the environmental security policies embedded in the current legislation of Russia, China, the USA, and the European Union. These entities declare their fundamental interests in the Arctic and position themselves as key players in the region, making it necessary for Russia to engage with them in various capacities. The study employs a comparative analysis of the environmental policies of the selected nations. A hierarchical framework was used for comparison, analyzing the content of environmental legislation in terms of concepts, objectives, policy directions, and implementation mechanisms. The novelty of the approach lies in its consideration of the socio-cultural factors underpinning the environmental concepts that shape each nation’s environmental policy. The study uncovered significant differences in the regulatory frameworks for environmental policy across Russia, China, the USA, and the EU, largely stemming from differences in worldviews and values. However, it also revealed substantial alignment in policy directions influenced by the global environmental agenda. A key feature of Russia’s environmental policy is its emphasis on placing the individual at the center of environmental considerations, coupled with strict, scientifically grounded regulation of emissions and pollutant discharges. The findings of this study can inform the development of a negotiation framework for the Russian Federation, incorporating environmental imperatives that reflect the unique characteristics of the Arctic. This framework can support Russia’s efforts in fostering international cooperation in the region.

Strategi Implementasi Perubahan Organisasi di Era Digital untuk Meningkatkan Efisiensi dan Daya Saing pada PT. Barito Renewables Energy Tbk

PT Barito Renewables Energy, Tbk (BREN) has emerged as one of the leaders in the renewable energy sector in Indonesia with a focus on diversifying energy sources, including solar and wind power development. The company utilizes advanced technologies such as Internet of Things (IoT) and Big Data to improve operational efficiency and reliability of energy supply. Through strategic partnerships with global companies and collaboration with the government, BREN contributes to Indonesia's clean energy transition. Funding through an Initial Public Offering (IPO) in 2023 successfully raised IDR 3.13 trillion in capital to support expansion and innovation. Commitment to sustainability is reflected in environmentally friendly projects and corporate social responsibility (CSR) programs that empower local communities. By continuously increasing production capacity and exploring new projects, BREN demonstrates real steps in change management that support business sustainability and competitiveness in the digital era. BREN's success serves as a model for other energy companies in facing global challenges and contributing to Indonesia's green energy transition.

“Colonial Question” in European Collective Memory: Review of Recent Studies

Introduction. The “critical turn” in modern humanities and social sciences has led researchers to rethink the contemporary global processes in terms of the inclusion/exclusion of actors in accepted narratives. The “women’s question” and “the voice of the subalterns” represent only a small part of hotly debated topics in academia and in the public sphere. Research on the memory of the traumatic past in European countries is also highly topical due to the fact that when faced with modern challenges, the European Union is trying to “re-assemble” its identity and declare itself as a global player, an actor with unity and certain “common values,” among which is shared memory of the past. Methods and materials. Through comprehensive analysis of recent research on the memory of colonialism in European countries, four countries are compared: France, Great Britain, Belgium, and the Netherlands. Analysis. A group of factors is identified that influence the perception of the past and its representation in urban places, in public discussions, on television, in mass culture, etc. Such factors include, in particular, the presence of a large and organized diaspora from the former colonies, the spread of modern technologies, the activities of veterans’ and former settlers’ associations, the interest of the younger generation in their past, etc. Results. As the study shows, the memory of the past continues to be a complex and contradictory phenomenon in the cultural and political life of European countries. Official discourses of memory are constantly challenged by actors who disagree with the interpretation of past events. The process of accepting the tragic past is not always accompanied by concrete measures, such as the payment of reparations, ceremonies to commemorate the victims of atrocities, memorial days, etc., and among the population there is still nostalgia for the colonial past.

Unleashing green innovation: navigating the path with green inclusive leadership, green knowledge management and internal CSR communication

Purpose Drawing upon the natural resource-based view (NRBV), organizational learning (OL) and contingency theories, this paper aims to develop and test a theoretical framework that examines the impact of green inclusive leadership on green innovation in business-to-business (B2B) context. This framework further examines the simple and serial mediation of green knowledge acquisition and sharing and the moderation of internal corporate social responsibility(CSR) communication. Design/methodology/approach Using survey questionnaires, authors collected multiwave data from 215 middle managers from different manufacturing and production organizations operating in Pakistan. The hypotheses were inspected using the PROCESS macro. Findings According to the findings, green inclusive leadership and green innovation are positively associated, and green knowledge acquisition and green knowledge sharing are efficient serial mediators of this relationship. Furthermore, the results suggest that internal CSR communication moderates the serial mediation such that the indirect relationship between green inclusive leadership and green innovation was stronger at high levels of internal CSR communication rather than at lower levels. Practical implications This research offers implications for manufacturing industry leaders and policymakers. Green inclusive leadership nurtures green knowledge dynamics, making it vital for achieving United Nations’ Sustainable Development Goals and promoting ecological stewardship. Investing in green knowledge processes and transparent internal CSR communication can enhance sustainable innovation and align with broader sustainability goals in organizations predominantly operating under the B2B model. Originality/value By merging NRBV, OL and contingency theories and drawing links across different genres of literature, this study provides unique insight into leadership, knowledge management, corporate communication, sustainability and CSR and innovation in the B2B sector.

Generative Artificial Intelligence and Regulations: Can We Plan a Resilient Journey Toward the Safe Application of Generative Artificial Intelligence?

The rapid advancements of Generative Artificial Intelligence (GenAI) technologies, such as the well-known OpenAI ChatGPT and Microsoft Copilot, have sparked significant societal, economic, and regulatory challenges. Indeed, while the latter technologies promise unprecedented productivity gains, they also raise several concerns, such as job loss and displacement, deepfakes, and intellectual property violations. The present article aims to explore the present regulatory landscape of GenAI across the major global players, highlighting the divergent approaches adopted by the United States, United Kingdom, China, and the European Union. By drawing parallels with other complex global issues such as climate change and nuclear proliferation, this paper argues that the available traditional regulatory frameworks may be insufficient to address the unique challenges posed by GenAI. As a result, this article introduces a resilience-focused regulatory approach that emphasizes aspects such as adaptability, swift incident response, and recovery mechanisms to mitigate potential harm. By analyzing the existing regulations and suggesting potential future directions, the present article aims to contribute to the ongoing discourse on how to effectively govern GenAI technologies in a rapidly evolving regulatory landscape.

Private Standards of Non-Governmental Organizations in the Field of Sanitary and Phytosanitary Measures Application

The relevance of the article is as follows: on the one hand, the importance of sanitary and phytosanitary measures as an integrating category, a category that stands at the crossroads of agrarian, environmental, social and international policies is not yet fully realised and therefore significantly underestimated; on the other hand, at the present stage, it is impossible to ignore the objective growth of the role and importance of non-governmental organisations in regulating the relations in the field of sanitary and phytosanitary measures. The purpose of the article is to identify and highlight the range of issues related to the relations between the State and non-governmental organisations which approve their own standards in the field of sanitary and phytosanitary measures, between the World Trade Organization (WTO) and the same non-governmental organisations, and also between the WTO and the State under whose jurisdiction a non-governmental organisation approves its own standards in the field of sanitary and phytosanitary measures. The leading methods of scientific cognition were: the dialectical method, which served as the methodological basis for scientific cognition, reflecting the relationship between theory and practice, as well as the conceptual provisions of legal science; formal logical method was used to analyse the content of current national and European legislation on the legal regulation of the application of private standards in the field of sanitary and phytosanitary measures; the comparative legal method was used to analyse and study the EU requirements, in particular the provisions of the Agreement on the Application of Sanitary and Phytosanitary Measures and practical mechanisms that can be implemented in national legislation and put into practice; the conclusions and proposals contained in the article are formulated using the method of dogmatic (logical) analysis. The article covers a range of issues related to the relations between the State and non-governmental organisations that approve their own standards in the field of sanitary and phytosanitary measures and notes that internal corporate standards and policies play a significant role in the activities of most international companies, which ensure that company employees comply with the requirements of both international and national legislation. The study revealed the following results: 1) the issue of risks of private standards has been updated, namely, they are not always based on scientific data, as required by the Agreement on the Application of Sanitary and Phytosanitary Measures; differ from international standards; such standards are stricter than official sanitary and phytosanitary requirements; require additional costs for small suppliers; private standards are set without transparency, consultation and appeal systems; private standards are diverse and not harmonised; the rule of Further research on the purpose of increasing the influence of private standards in international trade; development and justification of the procedure for introducing standards; determination of the role of the state and its responsibility; analysis of the prospects for the introduction of stricter requirements by non-governmental organisations; development of methodological foundations for the extension of certain international legal obligations to private individuals are considered promising.

Dynamics of Dividend Payout in Korean Corporations: A Comprehensive Panel Analysis Across Economic Cycles

This research conducts a meticulous examination of the determinants influencing dividend payout dynamics among firms listed on the Korean Stock Exchange (KSE) from 1995 to 2021, a period characterized by profound economic fluctuations. By leveraging a dynamic panel data model and the Generalized Method of Moments (GMM) for estimation, the study addresses endogeneity concerns while exploring the effects of firm-specific and macroeconomic variables on dividend yields. The investigation delineates three distinct economic phases: normal conditions, financial crises, and the aggregate study period, facilitating a granular understanding of firms’ dividend payout adaptability under varying economic landscapes. Empirical findings underscore the persistence of dividend payments, revealing a variable adjustment speed toward target dividend yields contingent upon the economic context, with an expedited adjustment observed during crises. Crucially, firm profitability emerges as a consistent determinant of dividend yields across all examined periods, whereas the influence of macroeconomic variables is notably more pronounced during periods of economic normalcy. This research elucidates the complex interplay between internal corporate strategies and external economic pressures in shaping dividend policies, thereby enriching the discourse on dividend payout behavior in the context of Korea’s economic evolution from an emerging to a developed market.

Underestimation of Chrysotile Health Risk due to Under-ascertainment of Mesothelioma: Evidence from a Century of Connecticut's Experience with the "Magic Mineral".

Over a century ago, Connecticut industry began using chrysotile asbestos. Chrysotile found a home in several factories that used it exclusively or predominantly. The occurrence of mesothelioma in 4 of those factories is the subject of this paper-2 have been reported previously and are updated here with new information; one was the subject of a prior internal corporate study that was never published; one is reported here for the first time. Twenty-four cases of mesothelioma have been identified among these workers, including several who had no known amphibole exposure. It is likely that additional cases of mesothelioma have been missed. The full scale of the hazard may never be completely known, but reports such as the present one add to the weight of evidence that chrysotile causes mesothelioma in humans and that the full extent of the epidemic is probably wider than retrospective studies have revealed. Continued vigilance is required.