We examine a channel through which corporate social responsibly affects firm performance. More specifically, we modeled the mediating role of enterprise risk management between corporate social responsibility and firm performance. We use the weighted average of environmental, social, and governance scores (as a proxy of corporate social responsibility) extracted from DataStream of Thomson Reuters‐ASSET4. Drawing on the stakeholder theory and using a large sample of 1021 Asia Pacific firms throughout 2006–2016, we show that corporate social responsibly is positively associated with firm performance. Our results suggest that corporate social responsibly is linked to enterprise risk management. However, the effect of corporate social responsibly on firm performance is both direct and indirect. We provide evidence that enterprise risk management partially mediates the relationship between corporate social responsibility and firm performance. We account for the issue of endogeneity and use alternative measures of firm performance for a robustness check. The findings offer important implications of socially responsible business processes through leveraging on the significance of enterprise risk management.

Drawing on stakeholder and socioemotional wealth theories, we empirically examine the influence of corporate social responsibility performance on investment efficiency in family-controlled businesses versus non-family-controlled businesses. Our panel dataset consists of 190 Pakistani firms listed on the Pakistan Stock Exchange over the period of 2007-2016. We use feasible generalized least square regression for model estimation. Our results suggest that firms with higher corporate social responsibility performance invest efficiently compared with firms with lower corporate social responsibility performance. Furthermore, the impact of corporate social responsibility performance on investment efficiency is higher in the family firms. The results suggest that family-controlled businesses are more willing to engage in social responsibility activities to achieve their non-economic goals, i.e. family image and trans-generational control. Overall, our results indicate that corporate social responsibility is beneficial for the organization, and its implication is more fruitful in the context of family-controlled businesses.

PurposeDrawing on the knowledge-based view (KBV), the study investigates the impact of entrepreneurial leadership (EL) on knowledge management (KM) processes and further examines the mediating role of KM processes on the linkage between EL and project success (PS).Design/methodology/approachSurvey data were collected from 304 project workers in software projects, and the proposed relationships were assessed through SMART-PLS structural equation modeling tool.FindingsThe study found a significant impact of EL on KM processes and PS. The analysis also revealed that KM processes significantly impact project success while EL impact PS indirectly through KM processes.Originality/valueThe relevancy of the research stems from the scarcity of research on EL, while studies on the role of leadership as a predictor of KM are significantly limited. Additionally, there is a scarcity of research on the impact of KM on project success. This is one of the earliest studies that investigate the inter-relationship among EL, KM processes and project success.

Purpose – The purpose of this paper is to explore how consumers’ socialization influences soft drink consumption behavior in Pakistan. Since consumer socialization has long been considered but it is important to understand whether the extent of consumer socialization in terms of soft drink consumption influences consumer behavior by taking into consideration consumer cohorts. Design/methodology/approach – The quantitative research is based on consumer survey method by using Likert scale questionnaire. Convenience sampling technique with a sample size of 637 is used. Data are analyzed by using cronbach α, ANOVA, correlation and multiple regressions. Findings – Overall, the findings maintain the impact of consumer socialization on soft drink consumption. Such influence of consumer socialization through social media, cultural groups and social groups encourages soft drink socialization behavior. Additionally there is also an evidence of mediating role of consumer generational behavior in soft drink consumption. Research limitations/implications – The results of this paper extend knowledge of how consumer socialization affects soft drink consumption behavior and provide important insights into how consumer cohorts should be targeted. The Chosen research approach is a limitation of the study. Practical implications – The results are of value to academic researchers, soft drink industry practitioners in a way that it will help them to portray marketing and advertising activities by taking into consideration consumer cohorts behavior. Social implications – This paper addresses an untapped issue on how cohorts socialization at different social setting impact on consumer soft drink consumption behavior. Originality/value – This paper fulfills a recognized need to study soft drink socialization in terms of cohort’s behavior.

Purpose The purpose of this paper is to study whether the presence of women directors on the corporate board influences financial performance (FP). To examine the underlying causal mechanism, the authors modeled firm-level intellectual capital efficiency (ICE) in the relationshipbetween board gender diversity (BGD) and FP. Design/methodology/approach Using a sample of 5,879 US firms, a structural model of BGD, IC and FP is conceptualized by accounting for the endogeneity issues and alternative measures of the key variables in the empirical framework. In the model, the percentage of women directors is taken as BGD measures and value-added intellectual coefficient as an IC performance measure, considering governance and corporate performance measures. Findings The authors find a significant impact of BGD on FP. In particular, the results suggest: BGD is linked to IC; the influence of board gender diversity on the FP is indirect; and ICE fully mediates the relationship between BGD and FP. Originality/value To the best of the author’s knowledge, no study has empirically investigated whether the firm-level IC performance explains the influence of BGD on FP. Drawing on the resource-based view and organizational learning theory of the firm, the authors empirically modeled the relationship between BGD and FP through a mediation mechanism of firm-level ICE to fill the void in the literature.

Purpose This study aims to empirically investigate the effect of financial reporting quality (FRQ) and audit quality (AQ) on the investment efficiency (IE) for the firms listed on the Pakistan Stock Exchange during the period 2007-2014. Design/methodology The authors use pooled ordinary least squares (OLS) regression which cluster at the firm and year level to test the hypotheses. For sensitivity check, the authors also account for reverse causality and cross-sectional dependence by using the GMM and FGLS regression methods. Furthermore, the authors built their theoretical arguments based on alignment hypothesis of the agency theory and resource-based view of the firm. Findings The findings suggest that higher FRQ and AQ are associated with higher IE. The results for these particular estimates are robust when tested using alternative estimation techniques. Overall, the outcomes of this study are in line with the arguments presented by the alignment hypothesis of the agency theory and resource-based view of the firm. Practical implications This study is fruitful for policymakers’ and investors. This study finds that the audit done by the Big 4 also reduces the information gap and, thus, reduces the moral hazard and adverse selection problems, thereby enhancing the IE. Originality The authors extend the debate on determinates of IE and highlight two monitoring mechanisms: FRQ and AQ. The authors further extend the literature on the economic consequences of AQ in terms of IE, as proposed by Francis (2011). For the first time, this study investigates the impact of AQ on IE in a setting where minority shareholder risk of exploitation is high relative to other markets in Asia.

The Internet of Things (IoT) revitalizes the world with tremendous capabilities and potential to be utilized in vehicular networks. The Smart Transport Infrastructure (STI) era depends mainly on the IoT. Advanced machine learning (ML) techniques are being used to strengthen the STI smartness further. However, some decisions are very challenging due to the vast number of STI components and big data generated from STIs. Computation cost, communication overheads, and privacy issues are significant concerns for wide-scale ML adoption within STI. These issues can be addressed using Federated Learning (FL) and blockchain. FL can be used to address the issues of privacy preservation and handling big data generated in STI management and control. Blockchain is a distributed ledger that can store data while providing trust and integrity assurance. Blockchain can be a solution to data integrity and can add more security to the STI. This survey initially explores the vehicular network and STI in detail and sheds light on the blockchain and FL with real-world implementations. Then, FL and blockchain applications in the Vehicular Ad Hoc Network (VANET) environment from security and privacy perspectives are discussed in detail. In the end, the paper focuses on the current research challenges and future research directions related to integrating FL and blockchain for vehicular networks.

Purpose The purpose of this paper is to empirically investigate the impact of two monitoring mechanisms: family ownership (FO) and financial reporting quality (FRQ) on investment efficiency (IE) over the period of 2007–2014 for listed firms on the Pakistan Stock Exchange. Design/methodology/approach The authors employ two-dimensional pooled OLS cluster at the firm and year level, two-stage least square regression and feasible generalized lease square regression regression methods. Findings The findings suggest that higher FRQ and FO are associated with higher IE. Further, the authors report that higher FRQ and FO mitigate over- and under-investment. The impact of FRQ on IE is stronger (weaker) for family-controlled businesses. The results for these particular estimates are robust for alternative estimation techniques and measures of FRQ and FO. Originality/value The study draws on both agency and behavioral agency theories and therefore contributes to the literature in the following ways. First, the authors examine a relationship between FRQ and IE. Second, the authors test the impact of FO on IE. Third, the authors test the moderating impact of FO on the relationship between FRQ and the IE of family and non-family firms in relatively less regulated emerging market.