Dealing with systemic environmental risks
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The risk effects of corporate digitalization: exacerbate or mitigate?
This study elaborates on the risk effects of corporate digital transformation (CDT). Using the ratio of added value of digital assets to total intangible assets as a measure of CDT, this study overall reveals an inverse relationship between CDT and revenue volatility, even after employing a range of technical techniques to address potential endogeneity. Heterogeneity analysis highlights that the firms with small size, high capital intensity, and high agency costs benefit more from CDT. It also reveals that advancing information infrastructure, intellectual property protection, and digital taxation enhances the effectiveness of CDT. Mechanism analysis uncovers that CDT not only enhances financial advantages such as bolstering core business and mitigating non-business risks but also fosters non-financial advantages like improving corporate governance and ESG performance. Further inquiries into the side effects of CDT and the dynamics of revenue volatility indicate that CDT might compromise cash flow availability. Excessive digital investments exacerbate operating risks. Importantly, the reduction in operating risk associated with CDT does not sacrifice the potential for enhanced company performance; rather, it appears to augment the value of real options.
Antibiotic ecotoxicity and resistance risks in resource-constrained chicken and pig farming environments
Antimicrobial resistance (AMR) data from agroecosystems in low- and middle-income countries is limited. We surveyed chicken (n = 52) and pig (n = 47) farms in Kenya to understand AMR in animal-environment pathways. Using LC-MS/MS, we validated the methods for analyzing eight common antibiotics and quantified the associated risks. Chicken compost (25.8%, n = 97/376) had the highest antibiotics prevalence, followed by pig manure-fertilized soils (23.1%, n = 83/360). The average antibiotic concentration was 63.4 µg/kg, which is below the environmentally relevant threshold (100 µg/kg), except for trimethoprim (221.4 µg/kg) among antibiotics and pig manure-fertilized soils (129.3 µg/kg) across sample types. Similarly, the average AMR risk quotient (RQ) was low (RQ < 0.1), except for trimethoprim and sulfamethoxazole (RQ ≥ 1). Ecotoxicity and AMR risks increased with flock size and the number of antibiotics used by pigs. Continuous environmental monitoring and large-scale studies on antibiotic contamination are crucial for evidence-based pollution control and the effective mitigation of environmental AMR.
Exploring corporate social responsibility practices in the telecommunications, broadcasting and courier sectors: a comparative industry analysis
This study aims to dissect and understand the Corporate Social Responsibility (CSR) endeavours of organisations within Malaysia’s telecommunications, broadcasting, postal and courier services sectors, particularly those holding licenses from the Malaysian Communications and Multimedia Commission (MCMC). These sectors were chosen for this study due to their crucial role in Malaysia’s economy and society, their notable environmental influence, the regulatory and public attention they receive as well as the distinct challenges and opportunities they face in implementing CSR. Employing a qualitative methodology, the study utilises a semi-structured interview protocol to gather rich, detailed insights from top management across eight listed and non-listed companies. This approach ensures a comprehensive exploration of CSR types, practices and their implementation within the target sectors. Purposive sampling was adopted to select informants with specific expertise, ensuring that the data collected was relevant and insightful. The findings of this study underscore that while telecommunications firms actively participate in Corporate Social Responsibility (CSR) initiatives, their efforts predominantly benefit the broader society, with less emphasis placed on shareholders. Additionally, it was observed that environmental issues receive relatively minimal attention from these organisations. This diversity highlights the necessity for a more equitable CSR approach that caters equally to the needs of all stakeholders, including the environment. Such a strategy is crucial for cultivating a sustainable and ethically sound business environment. The implications of this research are manifold. For companies, it emphasises the critical nature of adopting an all-encompassing CSR strategy that fosters competitive advantage while promoting sustainable development. The study advocates for a paradigm shift towards CSR practices that are not only philanthropic but also prioritise environmental stewardship and value creation.
Bank lending and environmental quality in Gulf Cooperation Council countries
To achieve economies with net-zero carbon emissions, it is essential to develop a robust green financial intermediary channel. This study seeks empirical evidence on how domestic bank lending to sovereign and private sectors in Gulf Cooperation Council (GCC) countries impacts carbon dioxide and greenhouse gas emissions. We employ PMG-ARDL model to panel data comprising six countries in GCC over twenty years for carbon dioxide emissions and nineteen years for greenhouse gas emissions. Our findings reveal a long-term positive impact of both bank lending variables on carbon dioxide and greenhouse gas emissions. In addition, lending to the government shows a negative short-term effect on greenhouse gas emissions. The cross-country results demonstrate the presence of a long-run effect of explanatory variables on both types of emissions, except for greenhouse gas in Saudi Arabia. The sort-term impact of the explanatory variables on carbon dioxide and greenhouse gas emissions is quite diverse. Not only do these effects differ across countries, but some variables have opposing effects on the two types of emissions within a single country. The findings of this study present a new perspective for GCC economies: neglecting total greenhouse gas emissions and concentrating solely on carbon dioxide emissions means missing critical information for devising effective strategies to combat threats of environmental degradation and achieve net-zero goals.
Sustainable supply chain management practices and performance: The moderating effect of stakeholder pressure
Currently, sustainable supply chain management practices have become an important strategy for firms to improve performance and gain competitive advantage. However, there is a current debate over the performance outcomes of sustainable supply chain management practices. Additionally, the role of stakeholder pressure is frequently overlooked. Drawing on Natural Resources-Based View and Stakeholder Theory, this study aims to elucidate the ambiguous connection between sustainable supply management, sustainable process management, stakeholder pressure and performance, and investigate the mediation role of sustainable process management and the moderation effect of stakeholder pressure. Our analysis, based on data collected from 235 Chinese manufacturing firms, reveals significant insights. First, stakeholder pressure positively moderates the relationship between sustainable process management and performance, while negatively moderates the relationship between sustainable supply management and performance. Second, sustainable process management has a complete mediation effect on the relationship between sustainable supply management and performance. The conclusion not only explains the inconsistent relationship between sustainable supply chain management practice and performance, but also reveals clearly the relationship between sustainable supply management and sustainable process management. Besides, it also highlights the difference in performance outcomes of sustainable supply management and sustainable process management under stakeholder pressures, and has valuable guidance to the practice of sustainable supply chain management in Chinese manufacturing firms.
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