Suchergebnisse

AbstractThe incorporation of sustainable compensation policies reflects the willingness of companies to manage the behavior of directors towards long‐term goals, responding to a large number of stakeholders with different demands. Analysis of compensation policies is biased to financial performance, so that the effectiveness of sustainable policies remains unexplored. This paper investigates whether having a sustainable compensation policy has a positive influence on environmental, social, and governance (ESG) and economic scores. These relationships are tested by estimating a fixed‐effects model for listed companies from Spain, France, Germany, and the United Kingdom in the period 2005–2015. According to the results, sustainable compensation policies affect ESG scores, but especially when firms have a corporate social responsibility committee acting as control mechanism and supporting the achievement of those objectives, triggering better nonfinancial performance. This paper contributes to literature by exploring the effect of sustainable incentives and expands the range and richness of results by including four different scores.

Purpose– The purpose of this study is to provide more knowledge about the model to generate reputation and its relationship in the long term with companies' strategy of social responsibility. Particularly, research is done to test whether there is a positive effect of firms' social behaviour (corporate social responsibility [CSR]), analysing differences of intensity and consistency, on their corporate reputation (CR) and whether the current financial crisis is a factor that has changed the relationship between both variables (moderator factor).Design/methodology/approach– This study uses a sample of 26 Spanish large firms of the Ibex35 index and covers an eight-year period from 2004 to 2011. To test the hypotheses of this research, a fixed-effects model was estimated using moderating regression analysis.Findings– The results obtained show that, for the Spanish Ibex35 companies, CSR practices according to their consistency have a significant positive effect on CR and in turbulent environments, as in the current financial crisis, it has had a significant positive influence on the CSR-CR relationship.Originality/value– Although a substantial number of empirical studies have examined the relationship between firms' strategy and their performance, only a few of them have analysed the impact of the external environment on this relationship, whereby there is a need for longitudinal studies with different economic scenarios to achieve better knowledge of the CSR–CR relationship.

ABSTRACT. The overall objective of this study is to analyse the situation of the seabream and seabass market, in order to provide relevant information for designing sustainable development strategies. It is divided into two parts: the first is an aggregated study about the factors affecting consumption in the Mediterranean countries of the European Union, which concentrated 79.5% of the consumption of these species in 2005. The second part is more specific and studies the influence that awareness and attitude towards aquaculture has on consumption patterns and valuation of the species, factors that are to be taken into account when designing specific strategies for each market. This latter part is confined to the Spanish market, and therefore results cannot be extrapolated to others, but they may serve as reference given that Spain accounts for 18.6% of total seabream and seabass consumption in the European Union. ; RÉSUMÉ. L' objectif global de cette étude est d' analyser la situation du marché du bar et de la daurade, afin de fournir une information utile pour la mise au point de stratégies de développement durable. Elle est divisée en deux parties : la première est constituée par une étude agrégée sur les facteurs qui influencent la consommation dans les pays méditerranéens de l Union Européenne, qui ont concentré 79,5% de la consommation de ces espèces en 2005. La seconde partie est plus spécifique et examine l' influence que la sensibilisation et l' attitude vis-à-vis de l 'aquaculture présentent sur les tendances de connsommation et d 'appréciation de ces espèces, facteurs qui entrent en ligne de compte pour la conception de stratégies spécifiques à chaque marché. Cette dernière partie se limite au marché espagnol, et par conséquent les résultats ne peuvent pas être extrapolés à d 'autres marchés, mais ils peuvent toutefois servir de référence étant donné que l' Espagne représente 18,6% de la consommation totale de bar et de daurade au sein de l' Union Européenne.

Production of gilthead seabream (Sparus aurata) and European seabass (Dicentrarchus labrax) is the second most important aquaculture industry in the European Union in value terms. During the last 10 years, the industry has experienced a process of industry concentration with the aim to overcome efficiency and profitability issues. However, the economic performance of the companies is still in general rather poor. The present work analyzes the economic performance of EU seabream and seabass companies in the period 2008?2016. The work is the first study to analyze companies? profitability in the EU as a whole, by country and company size, using economic and financial data extracted from companies? annual accounts. Based on the results, the study discusses the improvement of production and business profitability in recent years and the different factors that may have caused it, as well as the challenges and threats that seabream and seabass companies will have to face in order to achieve economic sustainability. ; This research was undertaken under the MedAID project, which has received funding from the European Union's Horizon 2020 Research and Innovation Programme under grant agreement no 727315 (http://www.medaid-h2020.eu/).