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The product‐market performance benefits of environmental policy: Why customer awareness and firm innovativeness matter
No full textInternational audienceResearchers have widely studied the nexus between corporate environmental (“green”) policy and its green performance and firm financial performance, but with mixed findings. A potential explanation for these mixed findings is the focus of extant studies on the direct and immediate impact of environmental performance on financial performance to the exclusion of firm-specific boundary conditions. Furthermore, all prior research study the effect of environmental performance on either stock market-based performance measures (i.e., stock return) or accounting-based performance measures (i.e., return on assets). A missing third dimension of firm performance, product–market-based performance (i.e., market share), has so far remained unexplored despite representing a crucial objective when innovating. Using Newsweek's annual green ranking as a novel measure of environmental performance for a panel of U.S. firms from 2010 to 2015, this paper attempts to fill these voids in the literature. The results show a positive relationship between firms' environmental performance and market share as a measure of product–market-based performance. The findings further demonstrate that this relationship is positively moderated by the level of customer awareness and innovativeness of the firm: The higher the level of awareness of a firm's environmental credentials and innovativeness, the stronger the effects of environmental performance on market share. Our results are robust against endogeneity concerns and alternative measures of firm financial and environmental performance
Retailing Competition for Substitutable Products in Greenness- and Price- Dependent Market
No full textInternational audienceWe consider two retailers that offer two substitutable products and compete in greennessand price-sensitive market. One retailer offers a product that is produced abroad and the other one offers a product that is produced locally. The local product is greener (releases less carbon emission) than abroad product. The demand function is decreasing in price and carbon emission’s level of product. Since the products are substitutable, the price and carbon emission level of each product affect the other product’s demand. The first retailer decides its product’s price and stock level. The second retailer decides its product’s greenness level, price and stock level. An analytical approach is used in order to solve the model. By using the Nash equilibrium, we find the best strategy for both retailers. We show how the market’s structures affect the strategy of each retailer
Women on audit committees and the relationship between related party transactions and earnings management
No full textInternational audienceOur results indicate a negative relationship between related‐party transactions (RPT) and earnings management, but a significantly positive relationship between discretionary accruals and the presence of a woman chairing the audit committee. While we observe a positive relationship between RPT volume and earnings quality, we fail to find any relationship between other audit committee characteristics and the latter. One significant result in the article is the positive relation between promoter presence on the audit committee and poor earnings quality. This article documents, for the first time, such a relationship from the perspective of an audit committee, at least in the Indian context
Effects of economic policy uncertainty shocks on the interdependence between Bitcoin and traditional financial markets
No full textInternational audienceThis paper analyses the effects of economic policy uncertainty (hereafter, EPU) on the relationshipbetween Bitcoin and traditional financial markets during the period 27/04/2015 to 25/10/2018, rep-resented by five stock market indices namely the NASDAQ100, S&P500, Euronext100, FTSE100 andNIKKEI225. EPU is measured in terms of economic policy, monetary policy, financial regulation, taxationpolicy, and the news-based policy uncertainty index for the U.S., U.K., Europe and Japan. By apply-ing a variety of statistical techniques (multivariate EWMA models, Spearman’s rho, the Diebold andYilmaz (2012) spill-over index, GAS models with conditional multivariate Student–t distribution andtime–varying scales and correlations, BVAR models with the Litterman/ Minnesota priors and nonlinearimpulse responses with local projections accounting for different regimes in uncertainty) we estimateinterdependence between traditional financial and Bitcoin markets and their reaction to the selectedpolicy shocks. Our findings indicate the investment attractiveness of bitcoin as a hedging tool againstshocks in uncertainty in the USA economic policy.The results are significant and potentially useful to researchers, practitioners, and Bitcoin market par-ticipants to better understand the nature of Bitcoin and facilitate better portfolio and risk-managementdecisions
A green delivery-pickup problem for home hemodialysis machines; sharing economy in distributing scarce resources
No full textInternational audienceIn this paper, we address a green delivery-pickup problem for Home Hemodialysis Machines (HHMs) categorized as scarce commodities. The system supplies the HHMs either from the central depot of the company or from the individual owners. Based on the sharing economy concept, the individuals who own the HHM devices can involve in this home health care system and share them with others through the fleet of the company to make money. After delivery of portable HHM devices to the clients (patients), they will be collected, disinfected and reallocated to fulfill the demands of the other customers. Moreover, respecting the environmental concerns, the vehicles’ fuel consumption and consequently the GHG emissions are realistically assumed as a function of the vehicles’ load, such that the company and especially the individual owners contribute to reducing GHG emissions, in addition to the primary economic motivations. Current research provides a bi-objective mixed-integer linear programming model which seeks minimizing total system cost and total carbon emissions. In order to solve the problem, Torabi and Hassini’s (TH) technique is applied and then a multi-objective meta-heuristic algorithm, self-learning non-dominated sorting genetic algorithm (SNSGA-II), is developed for medium- and large-sized problems. Finally, the application of the problem is investigated by a real case study from the healthcare sector. Numerical analyses indicate that the proposed green sharing-enabled model has a meaningful impact on both operational-level logistics determinations as well as the environmental important attainment indicators. As notable savings are guaranteed in terms of total system cost and emission, the proposed model has a great potential to provide the item sharing activities with a proper sustainable solution
How to perform and report an impactful analysis using partial least squares: Guidelines for confirmatory and explanatory IS research
No full textInternational audiencePartial least squares path modeling (PLS-PM) is an estimator that has found widespread application for causal information systems (IS) research. Recently, the method has been subject to many improvements, such as consistent PLS (PLSc) for latent variable models, a bootstrap-based test for overall model fit, and the heterotrait-to-monotrait ratio of correlations for assessing discriminant validity. Scholars who would like to rigorously apply PLS-PM need updated guidelines for its use. This paper explains how to perform and report empirical analyses using PLS-PM including the latest enhancements, and illustrates its application with a fictive example on business value of social media
E-retailers and the engagement of delivery workers in urban last-mile delivery for sustainable logistics value creation: Leveraging legitimate concerns under time-based marketing promise
No full textInternational audienceThis paper's research aims to understand how e-retailers can benefit from independent contractors' (delivery drivers') agile engagement under time-based marketing promise (TBMP) to advance sustainable logistics value creation in the urbanised last-mile-delivery (ULMD) environment. Our analysis of independent drivers' narratives (n = 30) reveals that sustainable logistics value can be apprehended through a process in which independent workers are both agenced by their leveraging of technologisation and task autonomy and concerned by the mobilisation of other ULMD stakeholders. They thus can propose novel, creative solutions for e-retailers and city planners towards sustainable logistics value creation
Examining freight performance of third-party logistics providers within the automotive industry in India: an environmental sustainability perspective
No full textInternational audienceThe purpose of this study is to examine relationships between measures of sustainable freight transport performance (in the context of mid-sized third-party auto components’ logistics players) with the associated externalities and firms’ intrinsic characteristics when information exchange occurs between logistics firms and the auto manufacturer. Employing a survey-based research methodology, appropriate data were collected for a number of third-party logistics players, thus yielding a total of 708 responses from the operational managers of these firms. The research construct was validated through a rigorous procedure involving measurement and structural equation model. From a theoretical perspective, the results of this study provide evidences supporting systemic relationships between internal enablers of the logistics firms and externalities in the backdrop of environmental sustainability. Major findings indicate that transportation planning and distribution network and, commodity considerations backed by top management support can further environmental performance. Further, we also find evidence that effective transport planning and distribution network design used in conjunction with commodity considerations can be a source of sustainable supply chain performance. By bridging the literature pertaining to environmental sustainability, information exchange, and pertinent external/internal nuances of logistics firms, this study reveals novel findings that can help logistics players streamline operations focused at achieving environmental sustainability performance
Corporates' strategic responses to economic policy uncertainty in China
No full textInternational audienceUsing a novel news‐based index of economic policy uncertainty, this paper studies the impact of economic policy uncertainty on corporate strategic positioning and corporate risk in China from 2009 to 2015. The study also investigates the impact of corporate strategic positioning on corporate risk. The results show that corporate strategic positioning and economic policy uncertainty have a significant positive impact on corporate risk. The results also explain that economic policy uncertainty increases the market risk of the firms irrespective of their corporate strategy. However, it increases the business risk of prospector firms and decreases the business risk of defensive firms. The study may help the firms to formulate and improve their strategic positioning while considering economic policy uncertainty. Our results are robust to alternate proxies of economic policy uncertainty and corporate risk
Estimating cannibalizing effects of sales promotions: The impact of price cuts and store type
No full textInternational audienceTo evaluate the financial impact of supermarket sales promotions, managers must estimate how much new demand comes from cannibalizing the base product compared with other sources. However, investigations into cannibalization are scant. Using vector autoregression analytical framework applied to three years of supermarket scanner data, and sales promotions for pound cake, we estimate cannibalization effects for two common price reductions (10% and 15%), across large, medium and small supermarkets. The sales bumps varied across supermarkets for each price cut while cannibalization effects were substantial only in large supermarkets, with moderate effects in medium stores and no effects in small supermarkets