Corporate social responsibility strategy hinges largely on the CEO characteristics in the context of an emerging market. Based on a sample of 16,144 firm-year observations obtained from 1,370 unique Chinese-listed firms, which whether voluntarily issue CSR reports over the period 2008–2019, this paper empirically examined the impact of CEO characteristics on the likelihood of issuing CSR reports. We find that CEO age, MBA education, international experience and political ideology consciousness are positively associated with the possibility of issuing CSR reports, while (...) a newly appointed CEO will decrease the likelihood of issuing CSR reports. Moreover, we consider a contingent factor, namely CEO power over the board, can significantly enhance the relationship between CEO age, political ideology consciousness, and the likelihood of issuing CSR reports. Furthermore, there’s no significant evidence indicating that CEO power can moderate the relationship between MBA education, international experience, and the likelihood of issuing CSR reports. Nonetheless, CEO power moderates the negative relationship between a newly appointed CEO and CSR reporting initiatives. This study attaches understandings to the extant literature that how top management characteristics can shape firm CSR strategies. (shrink)

The study is based on validating and exploring the effects of a mega project plan on infrastructure development and Sustainable Project Management. The CPEC has great importance to infrastructure development and economy-boosting. The current study's primary aim is to deal with environmental protection, economic boost up, international relations influencing to the Project's success. The paper also addressed project management as a moderator between environmental protection, economic boost up, international relations, and the CPEC project's success. The primary data has been gathered (...) by using questionnaires, and PLS-SEM has been employed for the analysis. The results revealed that environmental protection, economy boost up, and international relations have a positive association with the success of CPEC. The outcomes also exposed that project management moderating among the nexus of economy boosts up the international relations and success of CPEC. The present study results guided how Pakistan and China make the CPEC project stronger with the efficient implementation of practices required for protecting the environment, with the economic growth and boost up, and good strong relations with foreign countries. This study was an attempt to validate the different factors to check their association with each other in a new environment, resulting in a leading edge for the success of mega projects that influence project management. (shrink)

This study examines two stock market anomalies and provides strong evidence of the day-of-the-week effect in the Chinese A-share market during the COVID-19 pandemic. Specifically, we examined the Quality minus Junk strategy return on Monday and FridayQuality stocks mean portfolio deciles that earn higher excess returns. As historical evidences suggest that less distressed/safe stocks earn higher excess returns.. The QMJ factor is similar to the division of speculative and non-speculative stocks described by Birru. Our findings provide evidence that the QMJ (...) strategy gains negative returns on Fridays for both anomalies because the junk side is sensitive to an elevated mood and, thus, performs better than the quality side of portfolios on Friday. Our findings are also consistent with the theory of investor sentiment which asserts that investors are more optimistic when their mood is elevated, and generally individual mood is better on Friday than on other days of the week. Therefore, the speculative stocks earned higher sustainable stock returns during higher volatility in Chinese market due to COVID-19. Intrinsically, new evidence emerges on an inclined strategy to invest in speculative stocks on Fridays during the COVID-19 pandemic to gain sustainable excess returns in the Chinese A-share market. (shrink)

Industrial investment funds are a new financing innovation mode that can build an effective financing channel for enterprises.Based on the panel data of Chinese Listed Companies in 2008–2017, this manuscript constructed a static panel model between industrial investment funds, government R&D subsidies, and technological innovation to empirically analyze the effects of industrial investment fund involvement and government R&D subsidies on companies’ technological innovation. The research shows that industrial investment fund involvement can increase the company’s R&D investment by providing financial funds (...) for the company, which can effectively solve the company’s lack of funds in the process of technological innovation and guarantee the smooth running of the company’s innovation activities. Secondly, government R&D subsidies can alleviate the pressure of R&D investment to a certain extent, which is conducive to promote a higher level of technological innovation in the company. Thirdly, for companies with industrial investment fund involvement, government R&D subsidies are conducive to promote technological innovation. In contrast, for companies without industrial investment fund involvement, government R&D subsidies have no significant impact on technological innovation to a certain extent or even have a “crowding out effect.”. (shrink)

A highly transmittable and pathogenic viral infection, COVID-19, has dramatically changed the world with a tragically large number of human lives being lost. The epidemic has created psychological resilience and unbearable psychological pressure among patients and health professionals. The objective of this study is to analyze investor psychology and stock market behavior during COVID-19. The psychological behavior of investors, whether positive or negative, toward the stock market can change the picture of the economy. This research explores Shanghai, Nikkei 225, and (...) Dow Jones stock markets from January 20, 2020, to April 27, 2020, by employing principal component analysis. The results showed that investor psychology was negatively related to three selected stock markets under psychological resilience and pandemic pressure. The negative emotions and pessimism urge investors to cease financial investment in the stock market, and consequently, the stock market returns decreased. In a deadly pandemic, the masses were more concerned about their lives and livelihood and less about wealth and leisure. This research contributes to the literature gap of investors’ psychological behavior during a pandemic outbreak. The study suggests that policy-makers should design a plan to fight against COVID-19. The government should manage the health sector’s budget to overcome future crises. (shrink)

Increasing evidence suggests that corporate sustainability is paradoxical in nature, as corporates and managers have to achieve economic, social, and environmental goals, simultaneously. While a paradox perspective has been broadly incorporated into sustainability research for more than a decade, it has resulted in limited improvement in our understanding of corporate sustainability paradox management. In this study, the authors conduct a systematic review of the literature of corporate sustainability paradox management by adopting the Smith–Lewis three-stage model of dynamic equilibrium. The results (...) reveal the following: Both environmental and cognitive factors manifest tensions arising from the sustainability paradox. While both proactive and defensive strategies are adopted to manage the tensions embedded in the corporate sustainability, the proactive strategy is more extensively studied in the current literature. Management strategies of corporate sustainability paradox are characterized as multi-level, multi-stage, and dealing with multiple paradoxes. Proactive strategies enable organizations to enjoy short-term and long-term sustainability benefits. The authors call for further research explicitly addressing the following areas: the paradoxical nature of corporate sustainability management; corporate sustainability paradox management of for-profit organizations; the micro-foundations of corporate sustainability paradox management; defensive strategies and new proactive strategies; and a unified standard of sustainability outcomes. The practical implications of this review are then elaborated. In practice, the results imply that organizations would best manage the corporate sustainability paradox by understanding the paradox and its equilibrium stages. This review and proposed research agenda are expected to deepen interdisciplinary knowledge and set the stage for interested scholars to undertake in their future inquiries. (shrink)

This study, based on Bem’s gender schema theory, investigates gender differences in and the relationship between gender role characteristics and entrepreneurial self-efficacy of 261 female and 265 male entrepreneurs in China. The results show that male and female entrepreneurs did not differ significantly in ESE or in masculine gender role characteristics, but differed significantly in feminine gender role characteristics. Examining four different stages in the entrepreneurial life cycle, we find that for female entrepreneurs, feminine characteristics had a positive influence on (...) ESE in the searching and planning stages of entrepreneurship, and masculine characteristics had a positive influence on ESE in the searching stage. For male entrepreneurs, feminine characteristics had a positive influence on ESE in the searching and planning stages, and masculine characteristics had a positive influence on ESE in the marshaling and implementing stages. In addition, one feminine characteristic, “Friendly,” showed a positive association with male entrepreneurs’ ESE in the marshaling stage. Overall, the feminine gender role factor of “Friendly” and the masculine gender role factor of “Compete” played a greater role on ESE than other characteristics. Implications of the findings are discussed. This study contributes a new perspective to extant research on entrepreneurial self-efficacy and female entrepreneurship. (shrink)

This study uncovers a new finding on the impact of CEO tenure on corporate social and environmental performance (CS&EP) in coastal and non-coastal areas of China using fixed-effect panel data regression models. The Two-Stage Least Squares instrumental panel regression is used to validate the veracity of the empirical results. To this end, we extract data from all non-financial Chinese listed firms for the period of 2009 to 2015. By applying the multivariant framework, the findings of the study exhibit a negative (...) and significant effect of CEO tenure on CS&EP. Moreover, this study shows that firms with head offices in coastal areas of China tend to weaken the negative impact of CEO tenure on CS&EP, indicating that CS&EP is more focused in coastal areas of China than non-coastal ones. The findings suggest that the increase in CEOs’ CS&EP in the early years of their service tenure tends to increase their compensation packages. This study is useful for policymakers to link CS&EP with firm economic practices to attain sustainable development objectives. (shrink)

This research focuses on students' online purchase intentions in Pakistan toward different products available for sale on numerous e-business websites. This study's main objective is to determine which methodology is better to enhance customer online purchase intention. It also aims to discover how to improve perceived benefits and lower perceived risks associated with any available online product and entrepreneurship. AMOS 24 has been used to deal with the mediation in study design with bootstrap methodology. The study was conducted on 250 (...) students from different educational institutes in Pakistan using a simple random sampling technique. A finding of this study suggests that both methods positively impact online purchase intention of consumers and sustainable digital economy. But social media advertisement is more effective through enhancing the perceived benefits of products. In contrast, product content factors are more effective at lowering the perceived risks associated with available online products. (shrink)