The Influence of the Enterprise Life Cycle on the Efficiency of Investment

Koval, Viktor; Prymush, Yuliia; Popova, Viktoriia

doi:10.2139/ssrn.3184673

Cited by 2 publications

(3 citation statements)

References 5 publications

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“…We find that the impact of CSR disclosure quality on investment efficiency remains positive and significant. Next, we control for the life cycle stage (LCS) the company is passing through in Model 2 as it is expected to significantly affect the investment behavior of firms (Koval et al, 2017). The results show that CSR disclosure quality continues to have a significant impact on firms' investment behavior after controlling for LCS.…”

Section: Robustness Testsmentioning

confidence: 96%

When Does Corporate Social Responsibility Disclosure Affect Investment Efficiency? A New Answer to an Old Question

Anwar

Malik

2020

SAGE Open

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Prior evidence that firm’s investment behavior is positively affected by its corporate social responsibility (CSR) disclosure, as one of the key CSR areas of the company, leaves unaddressed whether all kinds of disclosure have the same effect. Drawing on stakeholder theory, this study analyzes the issue in a more exhaustive way. A cross-sectional logistic regression model is used to test the hypothesized association, and the results imply that firms’ high (low)-quality disclosure regarding their engagement in CSR activities increases their chances of being from the investment-efficient (inefficient) group. The obtained results conclude that CSR reporting activity is not beneficial for companies unless a meaningful disclosure of sustainability information is made. Our results are robust to using alternative proxies for CSR disclosure quality. This study contributes to the scarce evidence on CSR reporting in Pakistan and provides a useful method for assessing quality of CSR reports.

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Section: Robustness Testsmentioning

confidence: 96%

When Does Corporate Social Responsibility Disclosure Affect Investment Efficiency? A New Answer to an Old Question

Anwar

Malik

2020

SAGE Open

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“…Using efficiency to describe life cycle stages has a theoretical basis and research foundation. Not even a single study has shown a direct relationship between the efficiency, decline or rejuvenation of tourist destinations such as tourism and hospitality [53], business management [54], construction [55], energy [56] linked life cycles to efficiency. For instance, Yin et al (2015) proposed a hotel life cycle model measured by the average efficiency change rate (AECR) and average efficiency (AE) [53].…”

Section: The Relationship Between Efficiency and Decline Or Rejuvenationmentioning

confidence: 99%

“…AECR < 0 meant the recession and regeneration phase; when AE ≥ AE's average value of all DMU, it represented the recession stage; otherwise, it was the rejuvenation stage. Additionally, Koval et al (2017) analyzed the possibilities of determining the impact of life cycle stages on the efficiency of investing in an enterprise [54]. Lozano, Iribarren, Moreira, and Feijoo (2009) used a joint application of Life Cycle Assessment (LCA) and DEA to establish a direct link between operational efficiency and environmental impacts [57].…”

Section: The Relationship Between Efficiency and Decline Or Rejuvenationmentioning

confidence: 99%

Decline or Rejuvenation? Efficiency Development of China’s National Scenic Areas

Zhou

2022

Forests

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The decline is one of the essential issues for developing tourism destinations. The rapid adoption of appropriate policies will enable them to reverse the decline and enter the rejuvenation stage in time. This study advocated establishing an operational evaluation model of tourism efficiency with DEA and the super-SBM model to estimate when China’s mass tourism destinations are in decline and rejuvenation based on the tourism area life cycle (TALC) theory regarding China’s national scenic areas (NSAs) samples. The results show that the development of China’s mass tourism destinations can be divided into three phases, in which there is a clear process of persistent decline and rejuvenation. Different types of NSAs vary in terms of efficiency level and change trends. Human landscape, caves, and wetland and lakes all have distinct phases of persistent decline, but humanistic landscapes show a significant rejuvenation trend. These findings provide an innovative re-interpretation of the TALC model.

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The Influence of the Enterprise Life Cycle on the Efficiency of Investment

Cited by 2 publications

References 5 publications

When Does Corporate Social Responsibility Disclosure Affect Investment Efficiency? A New Answer to an Old Question

When Does Corporate Social Responsibility Disclosure Affect Investment Efficiency? A New Answer to an Old Question

Decline or Rejuvenation? Efficiency Development of China’s National Scenic Areas

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