Russian corporate recovery varies by company profile

Significance Recovery in the corporate sector is unevenly divided between large and smaller companies. More robust global demand and rising commodity prices boosted the profitability of large exporters, whereas the recovery of small and medium-sized enterprises (SMEs) was delayed by pandemic restrictions and falling real disposable incomes. Impacts High metals prices will constrain investment in infrastructure. Rising interest rates will limit capital market borrowing by medium-sized companies. Government price controls threaten to undermine private investment in agriculture, metallurgy and chemical production. A deterioration in banks' corporate portfolio will be adequately offset by high earnings and previous provisioning.

From a Financial to an Entity Model of ESG

ESG investing evolved over time from the earlier concept of CSR. The process of evolution moved the focus from the external impact of corporate activities to the risk and return implications for financial investors of failing to address ESG issues in their portfolio selection and corporate engagement. The bridge between the two approaches was the framing of sustainability in the early part of the millennium as an overarching concept that could be mapped onto the supply of capital and the techniques employed by institutional investors. The financial model of ESG investing is now the standard approach around the world and is reflected in ESG ratings, codes, guidance and regulatory rules. It focuses on the role of capital and investors in driving change in sustainability practices and pays much less attention to the role of board decision-making and directors’ fiduciary duties. In this research, we trace the origins and trajectory of this change in emphasis from CSR to ESG and attempt to explain why it occurred. We identify shortcomings in the financial model of ESG investing and propose an alternative ‘entity’ model, which we argue would more effectively promote sustainability in the corporate sector around the world.

Corporate Social Responsibility: Is the CSR Law Serving the Purpose it Should Be?

Corporate Social Responsibility (hereinafter “CSR”) had emerged as a means to hold companies and organisations accountable for the impact of their actions and operations on society. The idea behind CSR is that Business Organisations generate profits by utilising the community and environmental resources by way of labour and raw material, and so must return at least some part to society by way of quality products, employment generation, and so on. CSR has come a long way from being merely a concept of philanthropy to a mandatory law in India. The paper is an analysis of whether the CSR law has been able to serve the purpose for which it was enacted. It seeks to look into whether or not CSR should have been made mandatory at all. This paper questions the need for a CSR law in India or if it instead works as a mechanism agenda for the government to shift its responsibilities (towards the community) to the corporate sector.

A Study of the Spatial Effects of Financial Support and Economic Growth under Optimal Control of Nonlinear Generalized Complex Systems

This paper provides an in-depth analysis and study of the spatial effects of financial support and economic growth with the help of nonlinear generalized complex systems. Taking the industrial sector as the research object and combining the relevant contents of neoclassical investment theory, information economics, and institutional economics, this paper clearly defines and argues that the main feature of current financial policy is financial constraint rather than financial inhibition based on an in-depth understanding of the theoretical connotation and policy rationality of financial constraint and, as a premise, further analyzes the financial constraint policy causing excessive investment and capital mismatch in the corporate sector. It further analyzes the mechanism of the role of financial constraint policies in causing overinvestment and capital mismatch in the corporate sector and conducts empirical tests from three research perspectives of measuring investment efficiency, output efficiency of investment, allocation efficiency of industry capital, and investment behavior of microenterprises, and finally puts forward relevant policy recommendations in conjunction with the evaluation of the efficiency of financial constraint policies. This paper selects three dimensions of the financial system, namely, financial structure, financial efficiency, and financial scale, and studies the adaptability between these three dimensions and the development of the real economy, respectively, and then uses different empirical methods to analyze the dynamic adaptability effects between the development of the real economy and these three dimensions of the financial system and finally explores the way of adaptability between the financial system and the development of the real economy. This paper provides a medium and micro theoretical basis and new empirical evidence for understanding the importance of financial system reform on economic growth and also opens up a space for exploring the exit path of financial constraints and using interest rate marketization as a general grip to reasonably guide financial resources to achieve economic transformation and upgrading and sustainable and healthy development through supporting high-quality investment, using more interprovincial level data in the analysis, so it is more comprehensive and detailed than previous scholars’ studies. The examination is more comprehensive and detailed than previous scholars’ studies.

Improving methods for evaluating the results of digitizing public corporations

The list, nature, and directions in changing the business processes of public corporations due to digital transformation have been determined. The main digital technologies that are used by public corporations operating in the basic sectors of the national economy were grouped. It has been proven that one of the most important criteria for digital transformation is the level of information transparency. A morphological matrix of digital transformation of public corporations has been built and the positions of the latter in the process under study have been determined. Based on the results of the matrix assessment, it was concluded that the most attention is attracted by the digitalization processes in corporations-outsiders. This is because this position is characterized by a high level of digital maturity but a low level of transparency. To ensure a high level of transparency, it seems appropriate for these companies to introduce new digital technologies. This paper analyzes those endogenous and exogenous factors that promote or block the process of introducing digital technologies in public corporations. It was found that at the level of public corporations, there are significant resource constraints, which are manifested in the lack of funds for the introduction of digital technologies. Another significant obstacle is the psychological barriers associated with the unwillingness to use digital technologies in the work process. The generalization of the efficiency indicators of business processes and criteria for factor conditions of digital transformation has made it possible to identify the main components of the system model of digitalization of public corporations. Considering the above, an authentic system model of digitalization of the public corporate sector is proposed. It seems appropriate to use the model to determine the effect of the introduction of digital technologies in the public corporate sector.

Effects of International Exposure on Corporate Social Responsibility of the Chinese Corporate Sector: The Moderating Role of CEO Duality

<p>International exposure of a firm into new environments is one of the most important paths to firm growth. It provides growth opportunities and learning, and poses challenges of managing uncertainties of the new institutional environment, and demands of diverse domestic and international stakeholders. Despite the abundance of research on the effects of international exposure of a firm on its performance, the effects on corporate social responsibility (CSR) are not well understood. In addition to examining the direct effects of the international exposure of a firm on CSR activities in the home country, this study also examines the moderating role of Chief Executive Officer (CEO) duality in the association between international exposure of a firm and CSR activities in the home country. Drawing from institutional theory and agency theory, this study argues that international exposure of a firm leads to a decrease in CSR activities in the home country. It further posits that CEO duality also negatively affects CSR activities in the home country. Further, the proposed moderation hypotheses argue that the negative effects of international exposure of a firm on CSR activities in the home country are stronger for firms with CEO duality as compared to non-duality. The proposed hypotheses are tested with data from 240 publicly listed Chinese firms between 2008 and 2016, consisting of 1920 firm-years. The panel data is analysed using Linear Mixed Modelling (LMM) with the SPSS software. The findings support all the proposed hypotheses. This study makes three key contributions. Firstly, the study uses the institutional theory and agency theory to provide evidence for the negative effects of international exposure of a firm and CEO duality on CSR activities in the home country. Secondly, it enhances the understanding of how CEO duality acts as a boundary condition between international exposure of a firm and CSR relationships. Thirdly, it contributes to the emerging economy multinational enterprises literature by enhancing understanding of the proposed relationships in the context of the Chinese corporate sector.</p>

Effects of International Exposure on Corporate Social Responsibility of the Chinese Corporate Sector: The Moderating Role of CEO Duality

<p>International exposure of a firm into new environments is one of the most important paths to firm growth. It provides growth opportunities and learning, and poses challenges of managing uncertainties of the new institutional environment, and demands of diverse domestic and international stakeholders. Despite the abundance of research on the effects of international exposure of a firm on its performance, the effects on corporate social responsibility (CSR) are not well understood. In addition to examining the direct effects of the international exposure of a firm on CSR activities in the home country, this study also examines the moderating role of Chief Executive Officer (CEO) duality in the association between international exposure of a firm and CSR activities in the home country. Drawing from institutional theory and agency theory, this study argues that international exposure of a firm leads to a decrease in CSR activities in the home country. It further posits that CEO duality also negatively affects CSR activities in the home country. Further, the proposed moderation hypotheses argue that the negative effects of international exposure of a firm on CSR activities in the home country are stronger for firms with CEO duality as compared to non-duality. The proposed hypotheses are tested with data from 240 publicly listed Chinese firms between 2008 and 2016, consisting of 1920 firm-years. The panel data is analysed using Linear Mixed Modelling (LMM) with the SPSS software. The findings support all the proposed hypotheses. This study makes three key contributions. Firstly, the study uses the institutional theory and agency theory to provide evidence for the negative effects of international exposure of a firm and CEO duality on CSR activities in the home country. Secondly, it enhances the understanding of how CEO duality acts as a boundary condition between international exposure of a firm and CSR relationships. Thirdly, it contributes to the emerging economy multinational enterprises literature by enhancing understanding of the proposed relationships in the context of the Chinese corporate sector.</p>

Increasing Awareness for Cyber Security in the Corporate Sector

The age of computer advancement has caused a revolutionary change in the corporate sector. From on-campus working hours to remote work from home scenarios, from meetings in a conference room to meeting online in a virtual environment, things are changing continuously in the corporate environment. This paper tries to educate and generate awareness about cyber security in the non-technical human resource and try to make them understand the potential risks to their organization which can be caused because of not giving much attention to smaller details. This paper concentrates on those attacks which can be mitigated by any non-technical employee and which are easy to understand and give preventive measures for the same.