Responsible Business Research Articles

A Study of LYFEN's ESG Disclosure and Its Impact on Corporate Performance

Environmental, social and governance (ESG) is an important criterion for evaluating non-financial indicators of corporate performance, which provides substantial support for promoting corporate’s green transformation. This paper investigates the impact of ESG disclosure on corporate performance by using the social responsibility report issued by Shanghai Laiyifen Co., Ltd and the company’s financial data from 2019 to 2022, as well as data up to the end of September 2023 as the basis for analysis. The results show that there is a high correlation between ESG rating scores and corporate performance. Companies that score higher on ESG indicators tend to perform better financially, indicating that a focus on sustainability and responsible business practices can drive value creation. In addition, detailed and in-depth disclosure of ESG information helps to enhance corporate value. These findings deepen the understanding of how ESG disclosure affects corporate performance and provide theoretical support for companies and investors who seek valuable guidance.

Is national economic growth associated with environmental social and governance performance of firms?

AbstractThis study delves into the effect of environmental, social and governance (ESG) indicators on economic growth trajectory of an emerging economy. A sample of firms listed on the ESG index of the National Stock Exchange (NSE) was examined. The findings reveal a positive and statistically significant relationship between ESG performance indicators and economic growth represented as gross domestic product (GDP) per capita. The sample is further segregated into energy and non‐energy sectors, where the aggregate ESG scores exhibited a statistically significant influence on economic growth in both sectors. However, upon a closer examination of the individual ESG pillars, the governance pillar is observed to exert a negative influence on economic performance in non‐energy firms. In contrast, the environment and social pillars show no significant influence. The analysis then employs a unique approach by applying a Difference‐in‐differences estimator to assess the impact of Business Responsibility and Sustainability Reporting (BRSR) regulations, which confirms a positive impact on economic growth after regulations but exclusively within the non‐energy sector. This study underscores the substantial impact of ESG aggregate and individual scores on GDP per capita, which translates to economic growth.

Теоретичні засади формування корпоративної соціальної відповідальності в агробізнесі

The research paper aims to substantiate the theoretical foundations of corporate social responsibility, determine its place and role in modern economic science, and analyze the features of corporate social responsibility in agribusiness. In the article, we used the abstract-logical method to identify the theoretical foundations of the development of corporate social responsibility in agribusiness. Additionally, we researched the evolution of management practice and various approaches to interpreting the concept of “corporate social responsibility” using a monographic approach. We also used the method of analysis and synthesis to identify the key characteristics of corporate social responsibility and to distinguish the levels of corporate social responsibility in agribusiness. The article explores the development of “corporate social responsibility”. It defines a system of critical concepts, introductory provisions, and approaches that form the framework of corporate social responsibility. The concept of “corporate social responsibility” is theoretically interpreted and is commonly viewed as one of the elements of sustainable development. The article also discusses the specificities of using different approaches to interpret the concept of “corporate social responsibility” in management practice — elements of scientific novelty. A thorough analysis of the main characteristic features of corporate social responsibility was carried out, and the levels of corporate social responsibility in agribusiness were determined. The essential elements of internal and external corporate social responsibility in agrarian business were identified. Research has established that the most acceptable approach is that corporate social responsibility in agribusiness is considered the responsibility of an enterprise in the agrarian sector to its employees and other stakeholders (society, consumers, state authorities, public organizations, etc.), with which the organization interacts in the process own activity. The author has developed a mechanism for implementing the concept of corporate social responsibility in agribusiness. Practical relevance. Implementation of a mechanism for the implementation of social responsibility in agribusiness developed by the author in the activities of enterprises of the agrarian sector of the economy of Ukraine (based on the systematization of internal and external CSR with a division into reactive and strategic), which will contribute to the mitigation of already existing problems and negative consequences of the company’s activities and the successful implementation of the strategy CSR regarding the formation of a positive image of agrarian formations. Keywords: social responsibility, corporate social responsibility, corporation, the concept of implementation of state policy in the sphere of promoting the development of socially responsible business in Ukraine, agribusiness, and the mechanism of implementation of the concept of CSR in agribusiness.

Роль держави та громадських організацій у підтримці соціально відповідального бізнесу

The article examines the importance of social responsibility and clarifies the role of the state and public organizations in supporting socially responsible businesses. Today, many Ukrainian enterprises and organizations realize the importance of socially responsible business and increasingly create and implement socially responsible business projects. Such social projects may be related to charity, creating new jobs for IDPs or people with certain special needs, introducing new ecological technologies in energy or food, and other social initiatives. Modernity has faced a whole chain of quite complex problems, for example, the rapid growth of social inequality, global environmental crises, and protracted armed conflicts. The article focuses on the fact that overcoming the mentioned problems requires significant general efforts not only of power structures but also of business and scientific circles and the public. The author analyzes publications devoted to the formation and improvement of socially oriented behavior of business entities and analyzes the experience of using public-private practices and approaches to creating and implementing projects regarding the social responsibility of representatives of state authorities, business structures, public organizations, and other stakeholders. The social responsibility of the state is one of the main levers of ensuring the quality and effectiveness of state administration. The author emphasizes that the state has an essential task in shaping the socially responsible behavior of citizens. Legislative influence, educational policy, support for socially responsible businesses, and public campaigns are all tools the state can use to support and develop socially responsible behavior that contributes to creating an ethical and sustainable society. Public organizations also play an essential role in implementing these principles and forming an ethical business environment. The most crucial function of NGOs is to change people. In our fragmented society, non-governmental organizations promote social inclusion and integration. Public organizations are active initiators of social projects and social initiatives aimed at creating comfortable living conditions for communities, improving the quality of education, etc. The author emphasizes that the state is vital in regulating and stimulating socially responsible business behavior. Legislation, financial incentives, and other instruments of government intervention can contribute to the formation of an effective system of social responsibility. It was also found that public organizations monitor and promote the principles of social responsibility. They can influence business by demanding compliance with high standards of ethics and integrity. Keywords: social responsibility of business, state, public organizations, social state, social projects.

Role of Sustainable Practices on Hotel Brand Loyalty in the United States

Purpose: The aim of the study was to assess the role of sustainable practices on hotel brand loyalty in the United States. Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries. Findings: The study indicated that eco-friendly initiatives and responsible business practices not only appeal to environmentally conscious travelers but also enhance the overall reputation of hotels. By implementing sustainable practices such as energy conservation, waste reduction, and sourcing local, organic products, hotels can differentiate themselves in a competitive market. Guests are increasingly prioritizing sustainability in their travel choices, and hotels that demonstrate a genuine commitment to environmental stewardship are more likely to build stronger, long-term relationships with their customers. Additionally, sustainable practices contribute to a positive guest experience, further reinforcing brand loyalty. The perception of a hotel as a responsible and ethical entity can lead to repeat business and positive word-of-mouth recommendations, as customers are more likely to support brands that align with their values. Ultimately, sustainable practices not only benefit the environment but also serve as a strategic advantage for hotels aiming to cultivate loyal and satisfied guests. Implications to Theory, Practice and Policy: Theory of planned behavior (TPB), stakeholder theory and corporate social responsibility (CSR) theory may be used to anchor future studies on the role of sustainable practices on hotel brand loyalty in the United States. Hotels should actively implement and promote sustainable practices as core components of their operational strategies. Policymakers should encourage the hospitality industry to adopt sustainable practices through incentives and guidelines.

Emerging Partnerships of SDGs and HRM Practices During the Pandemic: A Study of the Indian IT Industry

Post-pandemic, the world of work has changed, and the pandemic has accelerated the responsible business agenda, representing a huge opportunity for the human-centric approach to HRM to transform the world of work. The drive towards responsible and sustainable business demands a new way of thinking, and the old conventional thinking approach addressing piece-meal solutions is an approach of the past. The human resource management (HRM) practices of multinational corporation (MNC) subsidiaries in India in the IT sector are studied within an institutional theory framework to look at how MNCs operating in India are incorporating the Sustainable Development Goals (SDGs). Applying the tenets of DiMaggio and Powell’s (1983) work, we understand that an MNC subsidiary located in India will be influenced by both potentially contradictory pulls from institutional factors in the local environment and international isomorphic processes. With a qualitative approach and primary data collected via in-depth interviews with 52 HR professionals (including host and subsidiaries) from 8 MNCs, our findings indicate that the subsidiaries based in India are mostly adopting the pattern exhibited by larger organizations in their environment that are viewed as successful (mimetic isomorphism) in implementing the SDGs. There is still a huge scope for improvement in these subsidiaries in terms of investing in people’s capabilities for future sustainable work. The research contributes to the bourgeoning literature on HRM practices and how MNC subsidiaries operate in different contexts and cultural settings in the IT sector.

SOCIAL RESPONSIBILITY OF BUSINESS UNDER THE WAR CONDITIONS

The article examines the social responsibility of business under the conditions of a full-scale war in Ukraine, its main trends and new directions that arise depending on the needs of society. 2 stages of the development of social responsibility of business during the war time were defined, where the first stage was more aimed at evacuating personnel or residents of the area where hostilities were taking place, providing shelter to the population, helping with food or basic necessities, and the second stage already has more areas of application. It was determined that social responsibility becomes the key to the development of a socio-economically inclusive environment through the implementation of hiring practices for veterans, people with disabilities, IDPs and other groups, financing grants for starting a business or providing other forms of assistance. The role of agricultural enterprises in ensuring food security of the state, including through socially responsible practices, is indicated.

Examining the relationship between CEO power and modern slavery disclosures: The moderating role of board gender diversity in UK companies

AbstractDrawing on agency and gender socialisation theories, this study examines the effect of Chief Executive Officer (CEO) power on corporate modern slavery disclosures (MSD) and investigates whether board gender diversity might influence this relationship. Based on a sample comprising the Financial Times Stock Exchange (FTSE) 100 companies from 2016 to 2020, the findings indicate that, although there has been progress in corporate transparency concerning modern slavery, a significant gap persists in the reporting on the measurement and monitoring of the effectiveness of their policies. This may stem from powerful CEOs' desires to maintain a positive corporate image, leading to minimal disclosure of potentially damaging information. The fixed effects panel regression analysis reveals a negative relationship between CEO power (CEOP) and the extent of modern slavery disclosures (MSD), with a significant moderating effect observed when female board representation is substantial. This evidence suggests that female board members may challenge groupthink and introduce diverse perspectives that can alter the board's dynamics, potentially mitigating the negative impact of CEOP on issues like modern slavery disclosure by encouraging more ethical and collective decision‐making. This research underscores the need for greater transparency and accountability in addressing modern slavery and promoting more responsible business practices.

Rooting firm responsibility in social-ecological systems through ancient Nahua thought: rethinking the logic model in the global reporting initiative

Purpose The logic models at the center of leading environmental, social and governance (ESG) reporting programs, such as the global reporting initiative, impose a dualistic relationship between organizations and social-ecological systems. Coupled with the lack of a real-world alternative, their dualistic approach results in widespread systems thinking-based reducibility errors in business responsibility. To help develop a nondualistic alternative, this study aims to present the idea of neltilistli or “rootedness,” as developed by the ancient Nahua indigenous peoples of Central Mexico. From the perspective of the Nahua, rootedness involves a holistic relationship with one’s body, community and the creative force called “teotl.” Design/methodology/approach The authors draw on the past to speculatively theorize an imagined future using the method of prospective theorizing to draw on a historical social context that is largely missing from current management scholarship. In doing so, the authors engage in a process of imagining a radically different future reality. Findings Integrating a rootedness approach into ESG reporting, particularly in terms of stakeholder relations, enriches it both spatially and temporally. This approach allows researchers and practitioners to replace dualistic thinking with a more holistic approach. Originality/value This paper complements the dualistic assumptions behind ESG reporting programs with a holistic approach based on the rootedness concept of ancient Nahua thought.

COMPENSAÇÃO DE CRÉDITOS TRIBUTÁRIOS E RESPONSABILIDADE SOCIAL CORPORATIVA

This article explores the intersection between tax credit compensation and corporate social responsibility (CSR) in the United States. Tax credit compensation is a financial strategy that allows companies to optimize their tax liabilities, while CSR focuses on sustainable and socially responsible business practices. This study examines how integrating these two approaches can benefit both companies and society. We analyze cases of companies that have successfully implemented these strategies and discuss the legal and ethical implications involved. Furthermore, we highlight the role of public policies in facilitating responsible tax practices that promote sustainable development and social welfare.

Ways to stimulate business towards socially responsible behavior and respect for human rights in the economic sphere

The article focuses on the growing role and importance of socially responsible business behavior. This is associated with a number of factors, such as the increasing ethical consciousness of society, the growing impact of business on the environment and people’s lives, and intensified competition in the market. It is noted that socially responsible business behavior involves respect for human rights, environmental protection, investment in human capital, and the fight against corruption. The purpose of the article is to explore and substantiate the ways to stimulate business towards socially responsible and respect human rights in the economic sphere. This goal is realized in the article by solving the following research tasks: the author analyzes the concept and essence of socially responsible business behavior and respect for human rights in international legal documents; defines the basic principles of socially responsible business behavior; studies the factors influencing the incentives for business towards socially responsible behavior; and develops and substantiates a complex of measures to stimulate business towards socially responsible behavior and respect for human rights. The author explores the role of business in society and the need to take into account social and ethical aspects in its activities. The author analyzes the impact of socially responsible behavior of business entities on economic development and positive impact on society as a whole. The expected results of the proposed measures are determined. The general conclusion of the article is that socially responsible business behavior and respect for human rights in the economic sphere are important components of sustainable development in modern society. Specific recommendations are proposed for enterprises to engage in these processes and maximize their social impact. The results of this study can be used to develop and implement state policy in the field of stimulating socially responsible business behavior, as well as for self-improvement of business entities.

Systematic Investigation of the Influence of Religion on Business Management: A Bibliometric Approach

Abstract In the dynamic context of modern business, the role of religion in business management is increasingly attracting the attention of researchers and practitioners. Religion, seen as a set of spiritual beliefs and practices, deeply shapes people’s values, behaviors, and decisions, thus impacting the way organizations are managed. Using bibliometric analysis allowed us to identify research trends, the links between the keywords underlying the selected studies, and the impact of the publications on the business environment. The study revealed that religious values can shape ethical behavior, leadership styles, and corporate social responsibility in business. Most studies focus on the influences of Islamic, Catholic, and Protestant religions, leaving a significant gap in understanding how orthodox values and practices influence organizational behavior and business ethics, even though this is the dominant religion in many Eastern and South-Eastern European countries. For a more comprehensive perspective, future research should include case studies and surveys in these geographical and cultural regions, combining qualitative and quantitative methods of data analysis. This study provides a robust basis for future research, stimulating reflection on how religious values can shape the business landscape in the 21st century.

Business Responsibility in Low-Carbon Transition: A Conceptual Model to Address Structural Injustice

Business Responsibility in Low-Carbon Transition: A Conceptual Model to Address Structural Injustice

Planning the customer service process of a logistics company based on implementing green technologies

The peculiarities of planning environmentally oriented customer service for a logistics company based on implementing "green" technologies are discussed in the article. It has been researched that planning is an integral part of the successful management of any company, especially in the logistics sector, where customer satisfaction and operational efficiency are key factors. Under modern conditions, to respond to customer requests, logistics companies must take into account the impact of their activities on the environment and implement appropriate methods to minimize the negative impact on the environment, and accordingly, the process of planning customer service in a logistics company should include an environmental component. Given this, the importance of integrating environmental factors and business processes at each stage of planning to ensure sustainable development of a logistics company based on forming a cyclic approach to planning environmentally oriented customer service is substantiated. The method of iterative planning that allows a logistics company not only to improve the quality of customer service but also to integrate environmental practices into its activities, which meets the modern requirements of sustainable development and social responsibility of business has been established. The developed model of environmentally-oriented planning of customer service combines business processes of logistics service and "green" technologies, transforms the operational efficiency of a logistics company in the context of sustainable development, substantiates the integration of environmentally sustainable solutions at all stages of the logistics chain - from initial planning to the final delivery of goods to consumers. To support the proposed model, the implementation of Power-to-X technology is recommended, which allows the conversion of excess renewable energy into energy specifically for logistics and transportation purposes. The implementation of this measure enables the logistics company to reduce emissions and increase energy efficiency, to form a comprehensive approach to the development and integration of environmentally friendly technologies in the company's logistics operations to increase efficiency and competitiveness. It is emphasized that the proposed model demonstrates a comprehensive approach to building a highly efficient and at the same time environmentally sustainable logistics system of the company by integrating innovative "green" technologies.

The EU Corporate Sustainability Due Diligence Directive: Real Change or More of the Same?

The implementation of mandatory corporate due diligence has been a growing trend in recent years. Viewed as having the potential to prevent corporate abuse, mandatory due diligence can be presented as the mechanism to substantially improve responsible corporate behaviour in practice. In 2022, the European Commission proposed a Corporate Sustainability Due Diligence Directive (CSDDD). The proposal presents obligations for companies regarding any actual or potential adverse human rights and environmental impacts, as well as liability for violation of such obligations. It aims to streamline due diligence obligations across Member States and create a level playing field. Since then, the Council of the EU and the European Parliament have agreed their negotiating positions. This paper explores the proposed CSDDD, including amendments, and analyses the challenges and prospects for mandatory due diligence. It explores whether the CSDDD could result in a genuine transformation of corporate practices to prevent corporate harms, or whether developments are similar to the incremental changes already seen over the years. It is argued that while the CSDDD could be another step in the right direction, significantly more needs to be done to prioritise rights holders above corporations and demonstrate a real change in responsible business practices.

The Promise of Business and Human Rights for Conceptualizing Business Responsibility

The Promise of Business and Human Rights for Conceptualizing Business Responsibility

Legal Analysis of the Consumer Protection Law in the Promotion of Alcohol with Ethnic and Religious Elements by Holywings on Instagram

Promotional efforts are crucial to a company's marketing strategy. However, Holywings' promotion offering free alcoholic beverages to individuals named Muhammad and Maria violates Law Number 1 of 2024 on electronic information and transactions, specifically Article 28, paragraph 2. This article prohibits spreading information that incites hatred or enmity based on ethnicity, religion, race, and inter-group distinctions (SARA). This research analyzes promotion regulations under this law and the responsibilities of businesses concerning promotions involving ethnic and religious elements, as outlined in Law Number 8 of 1999 on Consumer Protection. Using a normative juridical approach, this study examines literature, secondary data, and statutes to address the legal issues. The research employs qualitative analysis to systematically gather and analyze data, aiming to compile relevant theories, concepts, legal principles, and regulations. The result indicate that legal protection for consumers regarding promotions with ethnic and religious elements is upheld by Article 4, letter g of the Consumer Protection Law, ensuring fair, honest, and non-discriminatory treatment. Additionally, Article 17, Paragraph 1, Letter f prohibits business actors from engaging in such advertising, while Articles 19 and 20 outline their accountability.

Equipped for responsibility? Discursive resources in business education for sustainability – an analytical tool

To transform society in a more sustainable direction we not only need specific knowledge, skills and attitudes, but also discursive resources that enable the seeing of alternative ways of living. This paper analyses such discursive resources as used in educational practice, and presents an analytical tool to facilitate further environment and sustainability education research. The identification of discursive resources is facilitated by the concept ‘companion-meanings’ referring to implicit meanings that ‘accompany’ or ‘follow’ teaching and learning in a particular subject. Results from four studies (based on discourse analysis of textbooks, teacher interviews and teacher-student interactions in classroom practice of business education) about the expectations of a ‘responsible business person’ are analysed resulting in three categories of companion-meanings relating to expectations of a business person: ‘adapting to’, ‘adding’ and ‘creating’ ethical values. In a second step, these categories of companion meanings are analysed using a typology of responsibility. The results illuminate the diverging and often contradictory companion-meanings of a ‘good’ business professional in educational practice and discuss the implications for how business students are equipped to address sustainability issues. Lastly, an analytical tool for identifying these companion-meanings in educational practice is presented.

The Impact of Responsible Financial Business on the Profitability Performance of Public Listed Companies in Asia

The Impact of Responsible Financial Business on the Profitability Performance of Public Listed Companies in Asia

Critically Examining the Role of CSR Initiatives by Corporations in the Economic Independence of Women in Rural Areas

The study aims to critically examine the role of Corporate Social Responsibility (CSR) initiatives in fostering the economic independence of women in rural areas. The research assesses the impact, effectiveness, and challenges associated with these initiatives through an extensive review of existing literature and an analysis of CSR practices adopted by five Indian corporations. Exploratory methodology is employed based on secondary data collected from various reputable sources such as online journals, articles, and official websites. Focusing on the societal responsibilities of businesses, the study delves into the specific CSR measures undertaken by corporations to empower women economically in rural India. Detailed case studies of initiatives by Hindustan Unilever Limited, ITC, Godrej and Boyce, Tata Motors, and HDFC Bank provide insights into the programs implemented, their reach, and their impact. These initiatives encompass diverse strategies such as skill development, self-help groups, mentorship, employment opportunities, micro-credit facilitation, and technological literacy to enhance women’s economic empowerment. This research also identifies and discusses various challenges hindering their effective implementation besides acknowledging the positive impact of these CSR initiatives. Traditional gender norms, lack of cultural understanding, inadequate engagement, and inefficient evaluation mechanisms are among the identified barriers that impede the success of these initiatives. The findings underscore the importance of comprehensive strategies tailored to local contexts and suggest closer collaboration between corporations, NGOs, government agencies, and the community to ensure the success of CSR programs. The study concludes by emphasizing the significance of CSR in advancing women’s economic independence, breaking gender stereotypes, and fostering a sustainable future. The study put forth aims to address the identified challenges and enhance the efficacy of CSR initiatives targeting rural women, contributing to their empowerment and socio-economic development.