Do environment, social and governance performance impact credit ratings: a study from India

Bhattacharya, Sonali; Sharma, Dipasha

doi:10.1108/ijoes-09-2018-0130

Cited by 70 publications

(70 citation statements)

References 71 publications

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“…Similarly, Cairney et al (2012) stated that in the sports sector when an individual has a good competence level for some particular task they think that they are good enough to perform and complete that task. An individual with a high level of perceived relatedness for the organization has shown a positive and responsive attitude towards the organization (Bhattacharya and Sharma, 2019;Goswami et al, 2021;Ruzek et al, 2016). When managers take care of the feelings of their subordinates they create an atmosphere of relatedness in them (Deci and Ryan, 2012).…”

Section: Literature Review 21 Self-determination Theorymentioning

confidence: 99%

Does employee readiness to change impact organization change implementation? Empirical evidence from emerging economy

Rahi

Alghizzawi

Ahmad

et al. 2021

IJOES

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Purpose This study aims to gain insight into factors that impact employee readiness to change and organizational change management. Therefore, an integrative research model is developed with the combination of perceived competence, perceived relatedness, perceived autonomy, codification strategy and personalization strategy to investigate employee readiness to change. The research model tests the mediating role of employee readiness to change between factors underpinned self-determination theory, knowledge management strategy and organizational change management. In addition to the moderating role of self-efficacy is examined between the relationship of employee readiness to change and organizational change implementation. Design/methodology/approach This research is conducted under a positive paradigm, and therefore, a quantitative research approach is incorporated to design a research strategy. The research model is empirically tested with a sample size of 361 employees working in commercial banks of Pakistan. For data analysis, the structural equation modelling approach is applied. Findings Empirical findings indicate that altogether perceived competence, perceived autonomy, perceived relatedness, codification and personalization strategies had explained 76.8% variance in employee readiness to change. The effect size analysis shows that codification strategy has the largest impact in determining employee readiness to change. Therefore, the relatedness of employee tasks stands at the second stage in determining employee readiness to change. The predictive relevance of the research model is computed through blindfolding procedure and revealed substantial predictive relevance in measuring employee readiness to change. The findings of the research confirmed that the relationship between employee readiness to change and organizational change implementation will be stronger when self-efficacy is higher. Practical implications The current research has several contributions to theory and practice. Theoretically, this research extends the self-determination theory with knowledge management strategy and enriches literature in employee readiness to change and organizational change management context. Practically, this research suggests that policymakers should focus on factors underpinned by self-determination theory and knowledge management model to develop a positive attitude among employees towards readiness to change. Similarly, self-efficacy is another important factor that moderates the relationship between readiness to change and change implementation and should be considered for managerial implication. Originality/value This research is significant as it integrates two unique models, namely, the self-determination framework and the knowledge management model to investigate employee readiness to change. In addition to that, the research model is extended with the moderating effect of self-efficacy between the relationship of employee readiness to change and organizational change implementation.

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Section: Literature Review 21 Self-determination Theorymentioning

confidence: 99%

Does employee readiness to change impact organization change implementation? Empirical evidence from emerging economy

Rahi

Alghizzawi

Ahmad

et al. 2021

IJOES

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“…Based on stakeholder theory, the company will engage with its stakeholders and implement a sustainability strategy to meet stakeholders’ interests. Snider et al (2003), Nielsen and Thomsen (2007), Elijido-Ten et al (2010) and Bhattacharya and Sharma (2019) also stated that consideration of key stakeholders is the basis for companies to carry out CSR reporting. Consistent with this view, Fitriana and Wardhani (2020) also stated that companies often face sustainability risks if they cannot fulfill stakeholders’ demands.…”

Section: Theory and Literature Reviewmentioning

confidence: 99%

“…The strength and expectations of stakeholders are the basis for the company to shift from being concerned with shareholders’ welfare (shareholder view) to being concerned about stakeholders’ needs (stakeholder view). Snider et al (2003), Nielsen and Thomsen (2007), Elijido-Ten et al (2010) and Bhattacharya and Sharma (2019) stated that the basis of the companies in implementing a CSR program in consideration of the key stakeholders. Additionally, the company’s strategic perspective in determining a sustainability strategy will be grounded in sound governance and strong leadership.…”

Section: Theory and Literature Reviewmentioning

confidence: 99%

Sustainability strategy of Indonesian and Malaysian palm oil industry: a qualitative analysis

Wardhani

Rahadian

2021

SAMPJ

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Purpose Global palm oil production is growing rapidly, especially in Southeast Asia, with Indonesia and Malaysia as the biggest producers. Despite significant contributions to these countries’ economies, environmental and social aspects continue to be debated within this industry. The sustainability strategy is very important for the palm oil industry. This study aims to explore the sustainability strategy using six elements, namely, stakeholder engagement, governance and leadership, sustainability view and the economic, environmental and social strategies of Indonesian and Malaysian palm oil companies. Design/methodology/approach This study observes 21 Indonesian palm oil companies and 44 Malaysian palm oil companies from 2014 to 2018 with a total observation of 280 firm years. The methodology used in this study is a qualitative content analysis of six themes based on the sustainability strategy elements, which was further developed into 40 indicators. Content analysis is carried out on information published in annual reports and sustainability reports. Findings The study results indicate that stakeholder engagement, governance and leadership and strategic view of the palm oil companies in Indonesia and Malaysia are still likely to be weak. Palm oil companies have not demonstrated their focus on implementing economic, environmental and social strategies. Although the results indicate that there is a greater emphasis on environmental and social strategies than on economic issues, attention to both issues is still very low. Practical implications Palm oil companies need to integrate sustainability strategies in their business models and communicate them well to stakeholders to increase their competitive advantage in the palm oil industry. The government also needs to issue stricter rules and incentives to encourage companies to implement sustainability strategies. Social implications The study results provide implications for the communities around palm oil plantations to provide better social control so that companies can implement sustainability strategies in their business processes. Originality/value This study highlights the importance of sustainability practices integrated into palm oil companies’ business models, which have not been well implemented in the palm oil industry in the world’s largest producing countries.

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“…According to the work of Jang et al (2020), focusing on the case of South Korea and using ESG data from Korea Corporate Governance Service (KCGS), ESG ratings are complementary to credit ratings as they encompass essential non-financial information and can lower the cost of debt financing, especially for small firms. Bhattacharya and Sharma (2019) attempt a similar type of analysis for the Indian market, using ESG data from Bloomberg, and observe that ESG e↵orts present a positive e↵ect on credit ratings only for small and middle-level companies. As for the previous literature strands, it is di cult to draw a robust conclusion on the ESG role on credit ratings.…”

Section: The Current Esg State Of the Artmentioning

confidence: 99%

Inside the ESG Ratings: (Dis)agreement and Performance

et al. 2020

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We analyze the ESG rating criteria used by prominent agencies and show that there is a lack of a commonality in the definition of ESG (i) characteristics, (ii) attributes and (iii) standards in defining E, S and G components. We provide evidence that heterogeneity in rating criteria can lead agencies to have opposite opinions on the same evaluated companies and that agreement across those providers is substantially low. Those alternative definitions of ESG also a↵ect sustainable investments leading to the identification of di↵erent investment universes and consequently to the creation of di↵erent benchmarks. This implies that in the asset management industry it is extremely di cult to measure the ability of a fund manager if financial performances are strongly conditioned by the chosen ESG benchmark. Finally, we find that the disagreement in the scores provided by the rating agencies disperses the e↵ect of preferences of ESG investors on asset prices, to the point that even when there is agreement, it has no impact on financial performances.

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Do environment, social and governance performance impact credit ratings: a study from India

Cited by 70 publications

References 71 publications

Does employee readiness to change impact organization change implementation? Empirical evidence from emerging economy

Does employee readiness to change impact organization change implementation? Empirical evidence from emerging economy

Sustainability strategy of Indonesian and Malaysian palm oil industry: a qualitative analysis

Inside the ESG Ratings: (Dis)agreement and Performance

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