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Long-term value creation is expected not only to be concerned with maximizing shareholder value but also includes the impact on other stakeholders and the environment. Environmental, social, and governance (ESG) issues are therefore gaining increasing importance, in line with the growing demand for corporate sustainability. ESG ratings foster the comparison of companies with respect to their sustainable practices. This study aims to investigate how ESG ratings impact financial performance in the European food industry. Ordinary least squares regression is applied to analyze the relation between ESG ratings and financial performance over a 4-year period from 2017 to 2020. The profitability measures Return on Assets (ROA) and Return on Equity (ROE) are employed as financial performance measures, while ESG ratings are obtained from the database CSRHub. Results show that higher ESG ratings are associated with better financial performance. Although the effect is modest in the present study, the findings support previous results that ESG ratings are positively related to financial performance. Nonetheless, they also highlight that ESG ratings strongly converge to the mean, which depicts the need to reassess whether ESG ratings are able to measure actual ESG behavior.
Long-term value creation is expected not only to be concerned with maximizing shareholder value but also includes the impact on other stakeholders and the environment. Environmental, social, and governance (ESG) issues are therefore gaining increasing importance, in line with the growing demand for corporate sustainability. ESG ratings foster the comparison of companies with respect to their sustainable practices. This study aims to investigate how ESG ratings impact financial performance in the European food industry. Ordinary least squares regression is applied to analyze the relation between ESG ratings and financial performance over a 4-year period from 2017 to 2020. The profitability measures Return on Assets (ROA) and Return on Equity (ROE) are employed as financial performance measures, while ESG ratings are obtained from the database CSRHub. Results show that higher ESG ratings are associated with better financial performance. Although the effect is modest in the present study, the findings support previous results that ESG ratings are positively related to financial performance. Nonetheless, they also highlight that ESG ratings strongly converge to the mean, which depicts the need to reassess whether ESG ratings are able to measure actual ESG behavior.
Advances in Web 2.0 technologies have led to the widespread assimilation of electronic commerce platforms as an innovative shopping method and an alternative to traditional shopping. However, due to pro-technology bias, scholars focus more on adopting technology, and slightly less attention has been given to the impact of electronic word of mouth (eWOM) on customers’ intention to use social commerce. This study addresses the gap by examining the intention through exploring the effect of eWOM on males’ and females’ intentions and identifying the mediation of perceived crowding. To this end, we adopted a dual-stage multi-group structural equation modeling and artificial neural network (SEM-ANN) approach. We successfully extended the eWOM concept by integrating negative and positive factors and perceived crowding. The results reveal the causal and non-compensatory relationships between the constructs. The variables supported by the SEM analysis are adopted as the ANN model’s input neurons. According to the natural significance obtained from the ANN approach, males’ intentions to accept social commerce are related mainly to helping the company, followed by core functionalities. In contrast, females are highly influenced by technical aspects and mishandling. The ANN model predicts customers’ intentions to use social commerce with an accuracy of 97%. We discuss the theoretical and practical implications of increasing customers’ intention toward social commerce channels among consumers based on our findings.
Regardless of the prevalence and value of change initiatives in contemporary organizations, these often face resistance by employees. This resistance is the outcome of change recipients’ cognitive and behavioral reactions towards change. To better understand the causes and effects of reactions to change, a holistic view of prior research is needed. Accordingly, we provide a systematic literature review on this topic. We categorize extant research into four major and several subcategories: micro and macro reactions. We analyze the essential characteristics of the emerging field of change reactions along research issues and challenges, benefits of (even negative) reactions, managerial implications, and propose future research opportunities.