Suchergebnisse

AbstractUsing a sequential experiment, this study examines whether integration of material environmental, social, and governance (ESG) priorities into corporate strategy impacts investors' short‐ and long‐term stock price assessments and investment allocation. In our examination, we consider the potential moderating effect of financial performance. We find that integration of ESG priorities into strategy does not have a significant effect on investors' price assessments or investment allocation. This is true regardless of the trend in the company's financial performance. Our results hold across various demographics and the levels of investment knowledge and investment experience. Investors' perception of relevance and reliability of material ESG information, however, has a mediating effect on their long‐term price assessment and investment allocation. Overall, our findings suggest that any future requirements on disclosure of ESG information by regulators and standard setters should aim to improve investors' perception of the relevance and reliability of that information.

Although the body of literature on female entrepreneurs is relatively small when compared to that of men; the majority of articles that have focused on female entrepreneurs and issues surrounding them center on women in developed countries. Few studies place emphasis on female entrepreneurs in developing countries. Guided by the resource-based view of human and social capital, the article explores the relationship among individual and entrepreneurial factors, institutional factors and women's venture success in developing countries. Hypotheses are tested with a sample of 350 female entrepreneurs using individual and country level data from the Global Entrepreneurship Monitor (GEM) database and the Heritage Foundation's Index of Economic Freedom. Female entrepreneurs were chosen from six developing countries: Argentina, Brazil, Hungary, India, Mexico and South Africa. Results indicate certain factors (i.e. household income, knowing an entrepreneur, and country of origin) play a role in venture success for female entrepreneurs in developing countries. Secondary analyses demonstrated that the developing country's economic freedom, cultural norms, financial support and government supportiveness may also impact women's venture success.