We provide an empirical investigation of leadership characteristics and social justice issues in the context of financial literacy service-learning. Using a unique dataset of student self-ratings, we find that students experience statistically significant increases in 8 of the 10 leadership dimensions and 7 of the 7 social justice issues examined in this study. Leadership dimensions include: persuasion, building community, “commitment to the growth of people,” stewardship, empathy, awareness, foresight, and listening. Interest in social justice issues include: dignity of the human (...) person, community and the common good, rights and responsibilities, option for the poor, dignity of work, solidarity, and care for God’s creation. The statistically significant increases in these dimensions following the completion of the service-learning suggest positive effects on students’ self-perception of leadership qualities and interests in social justice issues: business school students sense improvement in nurturing growth of employees and colleagues, commitment to serving the need of others, understanding and empathizing with others, ethics, ability to foresee the likely outcome of a situation, and listening intently to others. As a consequence of the financial literacy service-learning, we believe that business students become more prepared toward becoming ethical leaders and citizens with compassion to serve the world for the well-being of all people, rich and poor alike. (shrink)

In this article, we investigate the relationship between religion, spirituality, and sustainability ethics. We focus on the sustainability efforts and channels that a Catholic Jesuit university employs in defining sustainability for business education and the global community through a consideration of the themes of social justice and the value of life. Specifically, we examine the model embraced by Loyola University Chicago , which promotes sustainability ethics and initiatives through their campus infrastructure, academic curriculum, and institutional culture. We examine emerging student-run (...) businesses and their impact on the environment from a social justice perspective. Sustainability initiatives include on-campus biodiesel production, bottled water bans, sustainable farming, water conservation, and the creation of a sustainability dashboard. (shrink)

This study investigates the development of service-learning models for business school students in Azerbaijan. Drawing on the United Nations Sustainable Development Goals, this study identifies field projects and financial literacy immersions that benefit society while also promoting partnerships between Azerbaijan’s business schools, Central Bank, and international non-profit organizations. Based on the conceptual framework of Brower (Academy of Management Learning & Education 10:58-76, 2011) and theoretical underpinnings of Kolb (2015), this article develops two service-learning models for business schools in Azerbaijan and (...) presents new corollaries between issues of sustainable community development, service-learning, and experiential learning theory. In one service-learning model, business school students complete a service-oriented consulting project based on real-world assignments from the United Nations Food and Agriculture Organization. In a separate service-learning model, business school students partner with the Central Bank of Azerbaijan and Junior Achievement in exerting servant leadership by serving as mentors for Azerbaijan’s schoolchildren in the area of financial literacy. The service-learning models in this study are distinctive and innovative in the context of Azerbaijan, both in terms of management education development and the potential to infuse and teach the United Nations Sustainable Development Goals into the business curricula. (shrink)

This study examines the volatility risk for firms that are rated high on environmental, social, and governance (ESG) dimensions in emerging markets and developed markets outside the United States and Canada. Employing the Morgan Stanley Capital International (MSCI) ESG Leader indices, this study investigates the impact of good news and bad news on the volatility risk for the highest ESG-rated firms through multivariate DCC-EGARCH modeling. This study finds that the impact of a negative news shock of size 2 standard deviations (...) is approximately 45% higher than that of a positive news shock of the same size for the case of the developed markets under interest. With respect to emerging markets, this study reports that the impact of a negative news shock of size 2 standard deviations is 41% higher than that of a positive news shock of the same size. The results provide empirical evidence in support of the hypothesis that the volatility impact of news for high ESG-rated firms in developed markets and emerging markets is larger for bad news compared to good news, and the results are robust across time. The empirical findings underline the importance of reporting-related disclosures of ESG initiatives, and provide seminal evidence of a slow response to news by high ESG-rated firms in emerging markets. (shrink)

In this study, we investigate the impact of frequent service learning on the emotional, personal development, and leadership characteristics of business students at a Catholic university in the United States. We examine the aforementioned impact of frequent service learning through a novel panel data set provided by the University’s Institute for Leadership and Service, ranging from the years 2008 through 2015. Specifically, we conduct an empirical analysis across the emotional, personal development, and leadership dimensions, and examine the too-much-of-a-good-thing effect of (...) Pierce and Aguinis in relation to service learning. Our results suggest that business students experience statistically significant increases in several emotional, personal development, and leadership dimensions as the number of service learning experiences increases. We provide mixed evidence of the TMGT effect when aggregating the emotion and personal development dimensions against the number of service-learning experiences via examination of cross-dimensional averages. Our study yields implications for the optimal number of service learning projects for business schools. (shrink)