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1 – 10 of 18Francesco Scarpa, Riccardo Torelli and Simona Fiandrino
This paper aims to understand how companies addressed and revisited their sustainable development goals (SDGs) engagement during COVID-19.
Abstract
Purpose
This paper aims to understand how companies addressed and revisited their sustainable development goals (SDGs) engagement during COVID-19.
Design/methodology/approach
The study conducts semi-structured interviews with the sustainability managers of 16 Italian listed companies acting for the accomplishment of the SDGs. Then, the interviews’ transcripts and the companies’ sustainability reports were thematically analysed to tease out relevant findings.
Findings
The findings show that companies have intensified their SDGs efforts during COVID-19, implementing an approach closer to the “Sustainability for Braving Crisis”. The findings unveil the transformational mechanisms which determined and facilitated this improvement at three levels of the business SDGs engagement: “WHY” (general awareness and motivations), “HOW” (governance mechanisms, organizational structure and stakeholder dialogue) and “WHAT” (SDGs identification and prioritization and actions for the SDGs). These findings uncover the mechanisms through which a global crisis may prompt and catalyse sustainable business practices, acting as i) an inspirational and empowering event, ii) an organisational lever and iii) a reference point.
Practical implications
This research has important implications for practice and policy, as it offers managers and stakeholders guidance to understand how companies have reshaped their sustainability practices during the pandemic and drives future corporate responses in times of crisis.
Social implications
This study shows that a crisis may be a powerful lever to intensify business sustainability practices towards a better contribution to the SDGs.
Originality/value
This study focuses on how companies have revised their SDGs practices when faced with a global crisis such as COVID-19.
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Mousa Alsheyab, Nela Filimon and Francesc Fusté-Forné
From a hospitality and tourism perspective, the purpose of this study is to analyse the case of Jordan by looking at the implementation of corporate social responsibility (CSR…
Abstract
Purpose
From a hospitality and tourism perspective, the purpose of this study is to analyse the case of Jordan by looking at the implementation of corporate social responsibility (CSR) practices in the hospitality industry and their contribution to the management of the pandemic crisis, with a special focus on large hotels.
Design/methodology/approach
The method focuses on a qualitative study based on ten in-depth interviews with senior managers of five-star hotels in Jordan, fully used as quarantine facilities during the COVID-19 pandemic.
Findings
The study reveals how and why the implementation of CSR practices contributes to the crisis management in Jordan, also highlighting the role of the managers and the hotels’ organizational cultures.
Originality/value
Drawing from the unique case of Jordan, to the best of the authors’ knowledge, this is the first study which analyses the close relationships between crisis and hospitality management from a CSR perspective, and the impact of organizational cultures and ethical strategies on local stakeholders.
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Dharen Kumar Pandey, Vineeta Kumari and Brajesh Kumar Tiwari
The authors examine the impacts of corporate announcements on stock returns during the pandemic stress.
Abstract
Purpose
The authors examine the impacts of corporate announcements on stock returns during the pandemic stress.
Design/methodology/approach
The authors employ the event study methodology with the market model on a sample of 90 events (announcement and ex-date).
Findings
The authors find that all the corporate announcements do not impact the stock returns in a similar pattern. While the bonus announcement, ex-bonus and ex-split events led to positive significant abnormal returns on the event date, the rights issue and stock-split announcements failed to influence the stock returns. The findings suggest that before making such announcements, the corporates should wait until the market recovers because even the positively impacting events result in negative market responses during pandemic stress.
Practical implications
This study will guide the policymakers to stimulate share prices during such pandemics with the help of various corporate announcements. The investors will be assisted in understanding the stock market mechanism and making wise decisions before reacting to corporate actions during a pandemic or emergency period. While the policymakers are concerned with influencing the share prices, the investors are concerned with the composition of the risk-return parameters in their portfolio. This study will act as an essential investment tool for both.
Originality/value
To the best of the authors’ knowledge, the authors conduct the first-ever study to examine the impacts of corporate announcements during a pandemic stress period that significantly contributes to the literature. The authors examine the announcement effects in India and accurately anticipate that this study will be a pioneer in this field. This study also paves the way for future researches in this area.
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