The current literature on sustainable practices shows that social missions and economic achievement can be compatible. However, very few studies have offered a quantitative perspective on this relationship. This study presents the first empirical evidence of the effects of the creating shared value (CSV) principle on the performance of companies. Using a sample of Spanish hotels, the results suggest that companies that apply CSV achieve higher financial performance. These findings represent a substantial contribution to the literature and shed light on how to efficiently implement CSV practices to simultaneously achieve economic and social benefits.
Using logistic regression technique and Deep Recurrent Convolutional Neural Network, this study seeks to improve the capacity of existing bankruptcy prediction models for the restaurant industry. In addition, we have verified, in the review of existing literature, the gap in the research of restaurant bankruptcy models with sufficient time in advance and that only companies in the restaurant sector in the same country are considered. Our goal is to build a restaurant bankruptcy prediction model that provides high accuracy, using information distant from the bankruptcy situation. We had a sample of Spanish restaurants corresponding to the 2008–2017 period, composed of 460 solvent and bankrupt companies, for which a total of 28 variables were analyzed, including some of a non-financial nature, such as age of restaurant, quality, and belonging to a chain. The results indicate that the best bankruptcy predictors are financial variables related to profitability and indebtedness and that Deep Recurrent Convolutional Neural Network exceeds logistic regression in predictive capacity.
Featured Application: The superiority of a novel computational technique (deep neural decision trees) for prediction of currency crises over other methodologies and the construction of new crisis prediction models more precise than existing ones.Abstract: Currency crises are major events in the international monetary system. They affect the monetary policy of countries and are associated with risks of vulnerability for open economies. Much research has been carried out on the behavior of these events, and models have been developed to predict falls in the value of currencies. However, the limitations of existing models mean further research is required in this area, since the models are still of limited accuracy and have only been developed for emerging countries. This article presents an innovative global model for predicting currency crises. The analysis is geographically differentiated for regions, considering both emerging and developed countries and can accurately estimate future scenarios for currency crises at the global level. It uses a sample of 162 countries making it possible to account for the regional heterogeneity of the warning indicators. The method used was deep neural decision trees (DNDTs), a technique based on decision trees implemented by deep learning neural networks, which was compared with other methodologies widely applied in prediction. Our model has significant potential for the adaptation of macroeconomic policy to the risks derived from falls in the value of currencies, providing tools that help ensure financial stability at the global level. Appl. Sci. 2019, 9, 5227 2 of 18 effect of contagion on other countries. However, the event was about more than just speculation on the Thai currency and saw the collapse of Asian stock markets. The financial crisis that began with the devaluation of the Thai baht exchange rate resulted in a sharp increase in interest rates and the collapse of many companies, as well as an increase in the cost of credit and a general fall in GDP in the region [1]. This resulted in foreign and national investors pulling out investment. Not only did this crisis affect Asian countries, but it also had a negative impact on other emerging economies, especially in Latin America, showing that currency crises are not limited to a specific economy. Globalization can increase the economic difficulties of societies and affect the structure of national economies after the real economy has suffered a damaging impact [2]. Figure 1 shows the number of currency crises per year at the international level. Appl. Sci. 2019, 8, x FOR PEER REVIEW 2 of 19of contagion on other countries. However, the event was about more than just speculation on the Thai currency and saw the collapse of Asian stock markets. The financial crisis that began with the devaluation of the Thai baht exchange rate resulted in a sharp increase in interest rates and the collapse of many companies, as well as an increase in the cost of credit and a general fall in GDP in the region [1]. This resulted in foreig...
In this study, we investigated the relationships between created shared value (CSV) strategies and online reputation (OR) within the hotel industry. Our results show that CSV strategies improve hotel OR assigned by clients participating in consumer review Websites. Our findings fundamentally indicate that the relationship between CSV and OR in the hotel industry is relevant in two major CSV aspects: reconceiving products and redefining productivity in the value chain. Hotel managers interested in improving their hotel OR should, therefore, implement CSV strategies in their companies.
This paper analyses the “strategic philanthropy” proposal, made by professors Porter and Kramer, according to which, a company’s social responsibility must lead to the agreement between social benefit and economic benefit. The company intentionally identifies the key areas in which the community and shareholders’ interests are related so they can take certain measures that improve each other’s conditions. With that in mind, companies should focus on those philanthropy activities that fortify their competitiveness, that is, those activities that equal a progress in the situation of the productive factors and requirements of demand. Drawing from this approach of creating social and economic value, we carried out a study of the main international corporations in which the public and the company’s interests are the same thus appearing new opportunities of creating shared value.
Esta investigación tiene por objetivo analizar las prácticas responsables desarrolladas por entidades financieras, referidas a la responsabilidad social corporativa (rsc), y determinar si el grado de intensidad en la ejecución de esas políticas responsables está relacionado con el tamaño o la solvencia de estas. Desde un enfoque positivista, a través de los principales estándares de medición de la rsc, se realizó la validación de algunas hipótesis basadas en un análisis previo de carácter empírico. Se utilizó una muestra de entidades financieras, para comprender cuál es el grado de compromiso de las grandes empresas financieras con sus stakeholders, con el medioambiente y con la sociedad en general.
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