| 1. |
- Svanberg, Jan, et al.
(författare)
-
Prediction of Controversies and Estimation of ESG Performance : An Experimental Investigation Using Machine Learning
- 2023
-
Ingår i: Handbook of Big Data and Analytics in Accounting and Auditing. - Singapore : Springer Publishing Company. - 9789811944598 - 9789811944604 ; , s. 65-87
-
Bokkapitel (refereegranskat)abstract
- We develop a new methodology for computing environmental, social, and governance (ESG) ratings using a mode of artificial intelligence (AI) called machine learning (ML) to make ESG more transparent. The ML algorithms anchor our rating methodology in controversies related to non-compliance with corporate social responsibility (CSR). This methodology is consistent with the information needs of institutional investors and is the first ESG methodology with predictive validity. Our best model predicts what companies are likely to experience controversies. It has a precision of 70–84 per cent and high predictive performance on several measures. It also provides evidence of what indicators contribute the most to the predicted likelihood of experiencing an ESG controversy. Furthermore, while the common approach of rating companies is to aggregate indicators using the arithmetic average, which is a simple explanatory model designed to describe an average company, the proposed rating methodology uses state-of-the-art AI technology to aggregate ESG indicators into holistic ratings for the predictive modelling of individual company performance.Predictive modelling using ML enables our models to aggregate the information contained in ESG indicators with far less information loss than with the predominant aggregation method.
|
|
| 2. |
- Svanberg, Jan, et al.
(författare)
-
Corporate governance performance ratings with machine learning
- 2022
-
Ingår i: International Journal of Intelligent Systems in Accounting, Finance & Management. - : John Wiley & Sons. - 1055-615X .- 1099-1174 .- 1550-1949. ; 29:1, s. 50-68
-
Tidskriftsartikel (refereegranskat)abstract
- We use machine learning with a cross-sectional research design to predict governance controversies and to develop a measure of the governance component of the environmental, social, governance (ESG) metrics. Based on comprehensive governance data from 2,517 companies over a period of 10 years and investigating nine machine-learning algorithms, we find that governance controversies can be predicted with high predictive performance. Our proposed governance rating methodology has two unique advantages compared with traditional ESG ratings: it rates companies' compliance with governance responsibilities and it has predictive validity. Our study demonstrates a solution to what is likely the greatest challenge for the finance industry today: how to assess a company's sustainability with validity and accuracy. Prior to this study, the ESG rating industry and the literature have not provided evidence that widely adopted governance ratings are valid. This study describes the only methodology for developing governance performance ratings based on companies' compliance with governance responsibilities and for which there is evidence of predictive validity.
|
|
| 3. |
- de Kwant, Colin, et al.
(författare)
-
The role of product design in circular business models : an analysis of challenges and opportunities for electric vehicles and white goods
- 2021
-
Ingår i: Sustainable Production and Consumption. - Amsterdam : Elsevier. - 2352-5509. ; 27, s. 1728-1742
-
Tidskriftsartikel (refereegranskat)abstract
- Pursuing sustainability implies setting a multitude of open-ended goals to address environmental and socioeconomic issues today as well as those for future generations. The circular economy (CE) paradigm appears more focused regarding goals and agency to address environmental issues by using the economic system. However, companies and governments aiming to operationalize CE in practice, it has been claimed, will face six key challenges limiting the CE “net sustainability impact” potential. This work focuses on the challenges for manufacturers to adopt and operationalize CE for their business. The two key levers for manufacturers to navigate on their path from the linear (take-make-dispose) to a sustainable CE are innovating and designing of the business model and of their products. To date, however, understanding the role of product design in developing circular business models has received little attention in research. This review article builds upon the CE literature foundation, including definitions, challenges, and business modeling frameworks needed to better understand the role of product design. Building on the work of several highly cited CE-centric literature reviews and voices in research and industry, we selected and merged complementing frameworks: Slowing-Closing-Narrowing, Circular Design, and the Circular Business Model Innovation framework. To understand how to put these frameworks into practice, we analyzed CE's links with electric vehicle and white goods research and industry perspectives respectively and collectively. The review and analysis of CE and selected industries’ research was supported by a co-occurrence keyword analysis of 5,960 most cited papers in CE as well as the two product categories, electric vehicles and white goods. The analysis indicated limited maturity and linkage of circular business models and role of product design toward a CE in the research literature for the product categories. This result corroborated the knowledge gap and guided our focus in searching for further research and industry clues. We structured the clues of interest that were specific to or common across product categories and industries, using the integrated framework to visualize our Design for X conclusion. The merged framework visualizes how paths toward CE by design and logic of value creation, delivery, and capturing may differ. To conclude, the authors’ own experience and literature examples from relevant industry-leading and start-up companies are used to apply the framework and reveal strengths, weaknesses, opportunities, and threats. Future research and industry experiments focused on the circular business models based on product service systems and design for CE strategies identified, will be needed to test and extend the framework to other product categories and industry sectors.
|
|
| 4. |
-
Handbook of Big Data and Analytics in Accounting and Auditing
- 2023
-
Samlingsverk (redaktörskap) (övrigt vetenskapligt/konstnärligt)abstract
- This handbook collects the most up-to-date scholarship, knowledge, and new developments of big data and data analytics by bringing together many strands of contextual and disciplinary research. In recent times, while there has been considerable research in exploring the role of big data, data analytics, and textual analytics in accounting, and auditing, we still lack evidence on what kinds of best practices academics, practitioners, and organizations can implement and use. To achieve this aim, the handbook focuses on both conventional and contemporary issues facing by academics, practitioners, and organizations particularly when technology and business environments are changing faster than ever. All the chapters in this handbook provide both retrospective and contemporary views and commentaries by leading and knowledgeable scholars in the field, who offer unique insights on the changing role of accounting and auditing in today’s data and analytics driven environment. Aimed at academics, practitioners, students, and consultants in the areas of accounting, auditing, and other business disciplines, the handbook provides high-level insight into the design, implementation, and working of big data and data analytics practices for all types of organizations worldwide. The leading scholars in the field provide critical evaluations and guidance on big data and data analytics by illustrating issues related to various sectors such as public, private, not-for-profit, and social enterprises. The handbook’s content will be highly desirable and accessible to accounting and non-accounting audiences across the globe.
|
|
| 5. |
- Semenova, Natalia, Dr, 1978-, et al.
(författare)
-
Private engagement by nordic institutional investors on environmental, social, and governance risks in global companies
- 2019
-
Ingår i: Corporate governance. - : John Wiley & Sons. - 0964-8410 .- 1467-8683. ; 27:2, s. 144-161
-
Tidskriftsartikel (refereegranskat)abstract
- Research question/issueThe paper examines private engagements related to environmental, social, and governance (ESG) incidents as a corporate governance mechanism used by Nordic institutional investors to influence MSCI World companies. The questions addressed are how an agent‐led collaborative engagement is carried out, what are the characteristics of the target companies selected, and if the successful engagements can improve ESG performance compared with pre‐engagement and incomplete cases.Research findings/insightsA unique data set of 355 private engagements of a professional agent on behalf of its Nordic clients is studied on environment, human and labor rights, and corruption risks between 2005 and 2013. An engagement process of the agent is described with focus on sequence and duration of actions of private engagement dialogues before filing a resolution. Successful private engagements, when target companies adopt the proposed ESG changes, are 27.6%. The incident‐driven private engagements target companies rated with high market values and ESG performance. ESG performance and transparency increase for succeeded engagements in the postengagement period and relative to incomplete engagements.Theoretical/academic implicationsThe paper provides empirical support for a social movement‐based influence of private engagements on target companies and adds to the broad‐scale empirical literature on investor activism. In the Nordic governance setting, an agent‐coordinated private engagement is seen as a social movement that supports targeting companies with a potential for change.Practical/policy implicationsInsights are offered to actors in the value chain in financial markets by demonstrating that successful ESG engagements have the potential to change portfolio company ESG practices.
|
|
| 6. |
- Lozano, Rodrigo
(författare)
-
Sustainable business models : providing a more holistic perspective
- 2018
-
Ingår i: Business Strategy and the Environment. - : John Wiley & Sons. - 0964-4733 .- 1099-0836. ; 27:8, s. 1159-1166
-
Tidskriftsartikel (refereegranskat)abstract
- Corporate sustainability has recently been challenging traditional business models that have been based on value proposition, creation and capture. There has been a steady increase in publications using the term “sustainable business models”; however, there have been few that have theoretically defined or characterized the term, and in most cases, they just apply the term. Seven peer‐reviewed papers were selected that aimed to define and explain sustainable business models and that have been widely cited. The papers were analyzed by assessing the elements and activities covered using the corporate sustainability framework, and by comparing them against four approaches to explain organizations. The paper proposes a definition and framework for more sustainable business models aimed at integrating organizational approaches, the company system, stakeholders, change and sustainability dimensions, thus providing a more holistic and systemic approach to discourses on sustainable business models.
|
|
| 7. |
- Fobbe, Lea, et al.
(författare)
-
The role of stakeholder interaction in sustainable business models. A systematic literature review
- 2021
-
Ingår i: Journal of Cleaner Production. - : Elsevier. - 0959-6526 .- 1879-1786. ; 327
-
Tidskriftsartikel (refereegranskat)abstract
- Stakeholder interaction is increasingly recognised as an essential component of sustainable business models (SBMs), playing an important role for sustainable value propositions, creation and capture. However, research on the role and potential contribution of stakeholder interaction has been fragmented and not comprehensively examined. In response, a systematic literature review was conducted to provide an understanding on the topic. Forty-seven articles were systematically selected and thematically analysed according to SBM elements. Key findings demonstrate that (i) organisations need to consider five preconditions that can influence the role of stakeholder interaction in SBMs; (ii) stakeholder interaction plays different roles depending on if an organisation develops an SBM or innovates an existing BM towards sustainability; (iii) stakeholder interaction plays a multifaceted and reciprocal role in regard to sustainable value propositions, creation and capture; (iv) while the importance of interacting with a broad range of stakeholders is recognised, it is still often treated as add-on with a focus on customers and suppliers. Research gaps and managerial implications are highlighted that can support both academia and practitioners in updating the current knowledge on the role of stakeholder interaction in SBMs.
|
|
| 8. |
- Hassel, Lars G., 1950-, et al.
(författare)
-
Engagement dialogue as a Nordic sustianable and responsible investment (SRI) strategy
- 2019
-
Ingår i: Challenges in managing sustainable business. - Basingstoke : Palgrave Macmillan. - 9783319932651 - 9783319932668 ; , s. 179-204
-
Bokkapitel (refereegranskat)abstract
- This chapter explores engagement dialogue as a sustainable and responsible investment (SRI) strategy from a Nordic investor perspective. The Nordic model of engagement dialogue is grounded in the Nordic model of corporate governance and stakeholder capitalism. Based on a proprietary database from a professional SRI agent, this chapter conducts an in-depth analysis of engagement dialogue between Nordic institutional investors and MSCI World companies regarding environmental, social, and corruption risks. The main characteristics of the Nordic model of engagement dialogue are an incident-based approach, norm-based compliance, a small number of engagement cases, and long-term emphasis on risk reduction as opposed to short-term financial gains. The chapter notes that successful forms of engagement dialogue target global companies with higher levels of pre-engagement environmental, social and governance (ESG) performance, ESG transparency, and operating performance than a matched sample. Their performance remains superior to the matched sample in the post-engagement period. The chapter consequently extends previous literature on SRI strategies in the Anglo-Saxon model of activism based on shareholder resolutions, whereby companies are targeted owing to corporate governance risks and low financial performance.
|
|
| 9. |
- Skyrman, Viktor, et al.
(författare)
-
Financialized accumulation, neoliberal hegemony, and the transformation of the Swedish Welfare Model, 1980–2020
- 2022
-
Ingår i: Capital and Class. - : SAGE Publications. - 0309-8168 .- 2041-0980.
-
Tidskriftsartikel (refereegranskat)abstract
- Drawing on a Gramscian Regulation Approach and Harvey’s accumulation by dispossession thesis, this article discusses the structural and hegemonic mechanisms of the neoliberal transformation of Sweden’s welfare sectors. Providing new longitudinal data on welfare retrenchment, corporate governance, wealth shares, and private economic power, the article further analyzes how the transformation of the Swedish post-war universal welfare model is related to class struggle and accumulation regime change in the Swedish economy. Following a decade-long countermobilization of Swedish capital and a severe economic crisis in the early 1990s, neoliberal economic common sense was cemented among social democratic policy elites that manifested itself in an institutionalized austerity polity, leading to a slow but steady dismantling of the Swedish welfare project. Roughly a fifth of employees in the three largest welfare sectors work in private welfare companies that generate tax-financed profits on politically created welfare markets. Welfare profits are in turn defended by a welfare–industrial complex and undergirded by a hegemonic bloc consisting of capital elites and sympathetic policymakers. In the virtual absence of vocal antihegemonic forces, many social democratic leaders have limited criticism against welfare profits throughout the last decades. On the contrary, austerity measures practiced by Swedish social democrats have thereto led to deteriorating social cohesion and spawned distrust among core social democratic voters.
|
|
| 10. |
|
|
