• The Journal of Asian Finance, Economics and Business
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• 제7권12호
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• pp.317-328
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• 2020

The board of directors play an important role in corporate climate strategy-making and decisions but might also compromise environmental policies to minimize agency cost. This study critically investigates the relationship between the attributes of the board of directors and the degree of sustainability performance for the energy sector as discussed in the literature. Our study cumulates existing knowledge offering important characteristics for a balanced board structure to increase the board's effectiveness in adopting sustainable initiatives that could reduce the adverse impact of an energy corporation's operation on the environment. Crucial attributes of the board of directors deemed to be positively associated with the commitment to reduce carbon footprint in the environment have been identified. Based on our extensive analysis of the literature we propose a conceptual framework that measures the influence of the board of directors' attributes on corporate environmental and social sustainability performance. The proposed framework will be useful as an initial step for top management and regulators to gain a better understanding of the balanced board structure required to achieve the social and environmental sustainability performance of corporations. Further, this paper contributes to a body of knowledge about how the board of directors could play a crucial role in monitoring social and environmental threats.

• The Journal of Asian Finance, Economics and Business
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• 제7권6호
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• pp.351-363
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• 2020

The objective of this paper is to explore how board gender diversity affects corporate sustainability performance. Therefore, this paper examines the direct association between board gender diversity with corporate sustainability performance and the mediation effect of enterprise risk management (ERM) on this association. The study employed a cross-sectional survey method. Data were collected from annual reports, websites, and through the questionnaires that were distributed to Chief Financial Officers (CFOs) of all the listed companies of Dhaka Stock Exchange, Bangladesh. The partial least square technique of Structural Equation Modelling (SEM) approach was employed for data analysis. The result did not find support for the direct association between board gender diversity and sustainability performance in Bangladesh context. This implies that contextual factors, such as, male-dominant board, appointment of female directors based on family ties, lack of education and expertise etc. may discount gender diversity direct influence on sustainability performance. However, the study finds strong support for the mediating role of ERM use within the corporate structure. Further analysis of indirect effect suggests that ERM use mediates the relationship of board gender diversity and sustainability performance in full. This implies that in the Bangladesh context effective use of ERM is highly recommended.

• 아태비즈니스연구
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• 제12권1호
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• pp.57-69
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• 2021

Purpose - The purpose of this study is to investigate the effect of macroeconomic conditions on the relationship between CSR and firm value. Design/methodology/approach - Employing KEJI index as a proxy for a firm's CSR activities, we investigate whether investors discount the value of CSR activity during the economic recession when a firm's bankruptcy risk is high and thus its future sustainability is suspected. Findings - Our empirical result represents that the value of a firm with high CSR score is undervalued during recession, reflecting investors doubt the sustainability of a firm whose CSR score is high when overall economy is exposed to high downside risk. Research implications or Originality - It implies that investors may not regard the CSR activities as an indicator of corporate sustainability. Also, the result represents that stable macroeconomic condition can be one of the important factors to make the CSR activity increase a firm's value.

• The Journal of Asian Finance, Economics and Business
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• 제7권12호
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• pp.365-376
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• 2020

This study explores whether the implementation of sustainability disclosure can trigger or stimulate the change in the roles of management accountants in adopting organizations in Vietnam as business partners. To do so, it explores the roles of management accountants in integrated reporting (IR) adopting organizations and sustainability reporting (SR) adopting organizations based on the use of the pragmatic constructivism (PC) theoretical framework. In addition, qualitative semi-structured interviews were used to provide an in-depth investigation of management accountants' work in both IR and SR adopting organizations. The empirical findings suggest that the adoption of the IR framework has triggered changes in management accountant roles toward the new business partner roles to support the decision-making process within their organizations. On the other hand, management accountants from SR adopting organizations still work as traditional "bean-counter" roles. Our paper concludes by indicating several propositions based on our empirical findings that can be tested by future researchers from the domain by collecting relevant data. Our study can be seen as a response to the recent call for a more in-depth examination of the practice of sustainability disclosure from the practitioners' perspectives in adopting organizations.

• The Journal of Asian Finance, Economics and Business
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• 제8권2호
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• pp.1091-1099
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• 2021

The purpose of this research is to examine the effect of Servant Leadership and Business Transformation on Corporate Competitiveness and Corporate Sustainability. In this research, Service Innovation is the mediating element. The sample of this study was made up of all ship leaders in all crossings of PT ASDP Indonesia Ferry (Persero), which consisted of 150 Commanders or Chief Commanders (Mualim I). The location of the research is the Vessel PT. ASDP Indonesia Ferry (Persero) is used on all crossings of the company. It is a survey research using questionnaires given to 150 respondents. The validity and reliability were checked using Pearson correlation and Cronbach's Alpha. The analysis used the WarpPLS statistical method and WarpPLS software. The results from this research show that the increased Servant Leadership will improve Service Innovation. Business Transformation developed by PT ASDP has not been able to improve Service Innovation. To our knowledge, there is no study on the concept of comprehensive competitiveness and sustainability involving Servant Leadership, Business Transformation, and Service Innovation in an integrated and simultaneous manner. Therefore, the novelty of this research is the development of concepts or models of Corporate Competitiveness and Corporate Sustainability Theory through Servant Leadership, Business Transformation, and Service Innovation.

• The Journal of Asian Finance, Economics and Business
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• 제7권8호
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• pp.361-369
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• 2020

This study investigates the influence of community involvement on the destination sustainability for community destinations and spiritual destinations in Vietnam. Community involvement is measured by two constructs, which are community attachment and residents' support. A structural questionnaire consisting of 41 observation variables measured on a 5-point Likert scale was used to survey households who live in a spiritual destination in An Giang province and three community destinations in Lang Son province with the help of local tour guides and Youth Union. 168 out of 200 responses collected were valid for multivariate data analysis. The results of confirmatory factor analysis (CFA) and structural equation modeling (SEM) reveal three main findings. Firstly, community attachment has a direct effect on both perceived benefits and destination sustainability. Secondly, while residents' support has a direct effect on perceived benefits, it indirectly affects destination sustainability. Finally, community destinations have a higher level of sustainability than the spiritual destination. Based on those findings, this study proposed three suggestions for local authorities, policymakers, and residents to improve the sustainable development of their local tourism destinations, including (1) diversifying local tourism products, (2) encouraging the community participation in tourism development programs, and (3) increasing in the expected benefits in local tourism development policies.

• The Journal of Asian Finance, Economics and Business
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• 제8권2호
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• pp.41-55
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• 2021

We examine the effects of the sustainability report (SURE) and investment decision on share price (SPRC). Explore whether the sustainability report changes the value-relevance of financial accounting variables indirectly. It is evident that the number of banks is only 12, which are all banks in Saudi Arabia, and we have included all of them in the final sample. Moreover, the same number of banks applied for the analysis concerning the accounting variables. This article utilizes a panel dataset from a sample of Saudis registered banks from the first quarter of 2014 to the last quarter of 2018. We utilize a balanced sample that contains all banks listed in Tadawul, 240 observations. Run GLM regression to tests the relationships. Findings exhibit that investors value the complementary disclosure of accounting information provided in SURE, and this disclosure produces a positive effect on SPRC. The SURE figure is robustly significant, suggesting that the market assigns a positive-significant correlation to the further information in the SURE. The indirect effects show that BPS×SURE is a positive-significant effect on SPRC, whereas EPS×SURE is positively-insignificant. The analysis shows that SURE's value relevance conforms through Saudis Banks, consistent with the hypothesis that diverse institutional perspectives probably influence the value-relevance of SURE.

• 유통과학연구
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• 제19권11호
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• pp.37-48
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• 2021

Purpose: The importance of sustainability in the supply chain has steadily risen in recent decades as a result of the growing awareness on the social issues. The purpose of this research is to examine the relationship between social sustainability practices and performance outcomes, as well as explore the mediating role of supply chain integration on that relationship. Research design, data and methodology: PLS-SEM model is developed to identify the impacts of sustainability on performance outcomes and the mediating role of supply chain integration. We received 285 responses from medium and large companies located in Vietnam, and after filtering, 206 responses were used for further analysis. Results: Our findings showed that sustainability impacts significantly on integration and performance in the supply chain. Moreover, the result indicates that supplier integration and internal integration mediate the relationship between social sustainability practices and supply chain performance, while customer integration mediation role was not found significant at all. Conclusions: Our results prove that social sustainability practices can link all the stakeholders and enhance collaboration. To maintain sustainable development, firms should embrace values of sustainability to improve the well-being, working condition, and healthcare of their employees as well as the advancement of local society.

• 패션비즈니스
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• 제27권2호
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• pp.88-107
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• 2023

This study aimed to understand the current status of practice for sustainability in luxury fashion brands. A total of five luxury brands (Louis Vuitton, Hermès, Gucci, Burberry, and Prada) were selected. Each company's official website, sustainability reports, and articles on sustainability practices were compiled. In addition, analysis was performed based on criteria of sustainability such as environmental, social, economical, and cultural dimensions. As a result, the biggest commonality of the five brands was that they promoted the most active change in the environment. These brands tried to reduce energy consumption in materials and production processes. Among them, Burberry, Gucci, and Louis Vuitton had their own departments for sustainability. However, there were differences in strategies of activities between brands for social, economical, and cultural sustainability. Among the five companies, Burberry and Gucci pursued sustainability strategies the most aggressively. They separated their sustainability strategies in terms of environmental, social, economical, and cultural aspects and shared them with consumers. A set of outcomes for the plan were provided as objective data. The sustainable management strategy has become a key strategy for long-term growth of the luxury brand market. To survive in the market, luxury brands should elaborate sustainable management strategies and actively share them with consumers.

• The Journal of Asian Finance, Economics and Business
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• 제7권9호
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• pp.687-695
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• 2020

The study attempts to assess the level of environmental sustainability awareness in the Kingdom of Saudi Arabia. In the process, the study tries to assess the impact of extracurricular activities in increasing awareness of environmental sustainability. A survey questionnaire was administered to the students of Prince Sattam University and other universities of Saudi Arabia. The questionnaire comprises statements on simple environmental conservation activities, which we come across on a daily basis. Hypothesis testing is used to identify significant differences across different categories of respondents. Further, the method of binary logistic regression is used to analyze the data. Though all the respondents agree that conserving the environment is important still there are significant differences across categories when it comes to believing in and practicing environmentally-responsible behavior. The results show that environmental awareness can be increased using awareness activities on sustainability issues in a University setting. The study concludes that increasing the number of extracurricular activities on environmental topics as only 38% of the respondents reported any activity related to the environment in the past year. The findings of this study suggest that increased awareness of environmental issues can boost the sustainability awareness, which will ultimately lead to a sustainable environment.