| 1. |
- de Kwant, Colin, et al.
(författare)
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The role of product design in circular business models : an analysis of challenges and opportunities for electric vehicles and white goods
- 2021
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Ingår i: Sustainable Production and Consumption. - Amsterdam : Elsevier. - 2352-5509. ; 27, s. 1728-1742
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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.
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| 2. |
- Rahi, ABM Fazle, 1989-, et al.
(författare)
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Corporate sustainability and financial performance: A hybrid literature review
- 2023
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Ingår i: Corporate Social Responsibility and Environmental Management. - Oxford : John Wiley & Sons. - 1535-3958 .- 1535-3966. ; 31:2, s. 801-815
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Forskningsöversikt (refereegranskat)abstract
- The discussion of “whether it pays to be green” is ongoing. This review does not intend to solve the debate, rather it soothes it by contributing to the concept of “when it pays to be green.” By focusing on the shortcomings of existing literature reviews on the topic of corporate sustainability and financial performance (CSFP) in this hybrid review, issues were identified that had been overlooked earlier. In general, CSFP holds a positive relationship but in a time lag. Nonconclusive results about the relationship within CSFP are due to self-selection bias, endogeneity issues, and the use of multiple datasets and industry categories. Surprisingly, we also discovered that the impact of sustainability on financial performance is elusive in capitalist countries considered to be economically rational. Institutional and legitimacy requirements are a good starting point for shaping corporate behaviors in the short term; however, they might not be equally appropriate in the long term in cases when corporations shift operations to pollution havens. A multifaceted, synergistic interaction between governmental institutions, corporations, and other stakeholders is required—without imposing authority—to ensure durable sustainable development.
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| 3. |
- Rahi, ABM Fazle, 1989-, et al.
(författare)
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Do sustainability practices influence financial performance? Evidence from the Nordic financial industry
- 2022
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Ingår i: Accounting Research Journal. - Bingley : Emerald Group Publishing Limited. - 1030-9616 .- 1839-5465. ; 35:2, s. 292-314
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Tidskriftsartikel (refereegranskat)abstract
- Purpose - The purpose of this study is to explore the impact of sustainability (environmental, social and governance or ESG) practices on the financial performance (FP) of the Nordic financial industry.Design/methodology/approach - The study covers a sample selection of observations for a total of 152 firm-years for 39 financial companies within the Nordic region (Sweden, Denmark, Finland and Norway) for the business years including 2015–2019. Data regarding ESG and FP indicators were extracted from the Thomson Reuters Eikon database in July 2020. This is a quantitative study using regression and a generalized method of moments.Findings - Using static and dynamic estimators, the authors found both positive and negative impacts of sustainability practice on FP. The authors identified a negative relationship between ESG practices and FP (return on invested capital, return on equity and earnings per share). The authors identified a positive relationship between governance and return on assets.Originality/value - A key contribution to the accounting literature is the finding that there is a risk for financial firms in adopting sustainability practices, as they follow a logic that contradicts the purely economic rationale. On the other hand, the positive relationship between governance and FP helps not only companies but also regulators and researchers to understand the positive impact of a good governance structure.
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| 4. |
- Rahi, ABM Fazle, 1989-
(författare)
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Nexus between corporate sustainability and financial performance
- 2023
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Doktorsavhandling (övrigt vetenskapligt/konstnärligt)abstract
- To save the planet from previous devastating corporate actions, corporations have enormous responsibilities toward the environment, economy and society. Implementing corporate sustainability practices through establishing effective governance mechanisms can be considered a transformative initiative with potential implications for social and green innovation. Social and green innovation thus shifts companies’ focus from for-profit objectives to the creation of mutual benefit and shared values.Over the past four decades, extensive academic research has been conducted on the topic of corporate sustainability and financial performance. Therefore, conducting research on a similar topic might appear to the reader to be carrying coal to Newcastle. However, the aim of this thesis is not to reproduce previous studies but rather to address the following research question: What is the nexus between corporate sustainability and financial performance? This thesis identifies that previous literature has produced blended results when explaining the nexus between corporate sustainability and financial performance; they have asserted that firms are solely responsible for sustainability activities and thus financial performance. In this regard, previous literature has argued for institutional pressure and legitimacy requirements to shape corporate behavior. However, I contradict the views of previous scholars and argue that power distance and hierarchy always hamper the relationship. I further posit that corporations are not solely responsible for sustainability activities and thus financial performance. Rather, the nexus between corporate sustainability and financial performance is transformed, modified, and shaped through an interaction of the trajectories of multiple actors, an interaction that I was able to capture through the multi-theoretical approach. In this regard, I propose a comprehensive framework, that is effective under a macro business ecosystem. With this framework, companies that prioritize sustainability strategies would eventually ensure financial performance but after a time lag. In contrast, companies that engage in greenwashing and selfies will always achieve misleading outcomes.The appended articles further examine the nexus between corporate sustainability and financial performance empirically using data from European countries by applying several static and dynamic econometric models under different time spans. The overall empirical result suggests that corporate sustainability practices have a positive impact on financial performance but with a time lag. However, in order to ensure durable long-term corporate sustainability practices, the macro and micro business environments – a network governance relationship – play a crucial role. The consistent and empirically robust results reveal the multiple trajectories of the nexus between corporate sustainability and financial performance. Therefore, the thesis disseminates key messages to policymakers and practitioners about the importance of an effective network governance mechanism.
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| 5. |
- Rahi, ABM Fazle, 1989-
(författare)
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Nexus between institutional quality and corporate sustainable performance. European evidence.
- 2022
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Konferensbidrag (övrigt vetenskapligt/konstnärligt)abstract
- By analysing approximately 800 companies’ data from 21 European countries, this research uncovered the nexus between institutional quality (IQ) and corporate sustainable performance (CSP). The findings show that IQ plays a positive and significant role in safeguarding CSP, and large firms play an essential preamble in this regard. To come to a conclusion, this research applied random effect and two steps system GMM econometric models, and the findings are consistent and empirically robust; hence, it disseminates key messages to policymakers and practitioners about the role of IQ on CSP.
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| 6. |
- Rahi, ABM Fazle, 1989-, et al.
(författare)
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Nexus between institutional quality and corporate sustainable performance: European evidence
- 2023
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Ingår i: Journal of Cleaner Production. - Amsterdam : Elsevier. - 0959-6526 .- 1879-1786. ; 382
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Tidskriftsartikel (refereegranskat)abstract
- By analysing 796 companies' data from 21 European countries, this research uncovered the nexus between institutional quality (IQ) and corporate sustainable performance (CSP). The relationship was theoretically examined with the lens of institutional theory and then empirically tested. The findings show that IQ has a positive and significant impact in safeguarding CSP, and firms’ characteristics play an essential preamble in this regard. We additionally found the heterogeneous impact of IQ on CSP. To come to a conclusion, we have applied random effect, two-step system GMM and quantile regression models. Our findings are consistent and empirically robust; therefore, the study disseminates key messages to policymakers and practitioners about the role of IQ in safeguarding CSP.
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| 7. |
- Rahi, ABM Fazle, 1989-, et al.
(författare)
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Reinventing the wheel? Factors influencing relationship : links between sustainability and financial performance. European evidence
- 2024
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Ingår i: International Journal of Accounting and Information Management. - Bingley : Emerald Group Publishing Limited. - 1834-7649 .- 1758-9037. ; 32:1, s. 147-177
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Tidskriftsartikel (refereegranskat)abstract
- Purpose: This study aims to examine the factors that influence the relationship between sustainability and financial performance (FP) of the European listed companies.Design/methodology/approach: This study analyzed data from 795 companies in 21 European countries by applying linear mixed-effects multilevel regressions, a two steps system generalized method of moments and quantile regression models to uncover the links between sustainability and FP.Findings: The past four decades have witnessed abundant research to determine the relationship between corporate sustainability and FP. Thus, conducting further research in 2023 could be seen as “reinventing the wheel.” Yet, earlier research considered firms as isolated entities with sustainability and FP being dependent only on that firm’s actions. By contrast, with the help of network governance theory, this study shows that a firm’s sustainability and FP depend on an interplay among interorganizational actors, such as institutional qualities, macroeconomic factors and an embrace of sustainability. Here, large firms play an essential role. Three significant findings are drawn. First, sustainability performance has a significant impact on FP in the European context. Second, the institutional quality (IQ) of the rule of law and control of corruption plays a crucial role in enhancing sustainability and FP, and finally the interaction of IQ and economic growth helps to increase companies’ market value (Tobin’s Q). The consistent and empirically robust findings offer key lessons to policymakers and practitioners on the interplay among multiple actors in corporate sustainability and FP.Practical implications: A synergetic multifaced relationship between governmental institutions and corporations is inevitable for ensuring sustainable development. The degree of intimacy in the relationship, of course, will be determined by the macroeconomic environment.Originality/value: In this research, this study theoretically and empirically identified that corporate sustainability and FP are not solely dependent on corporate operation. Rather, it is transformed, modified and shaped through an interaction of multiple actors’ trajectories in the macro business environment.
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| 8. |
- Rahi, ABM Fazle, et al.
(författare)
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Reinventing the wheel? Factors influencing relationship: links between sustainability and financial performance. European evidence
- 2024
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Ingår i: International Journal of Accounting and Information Management. - : Emerald Publishing. - 1834-7649 .- 1758-9037. ; 32:1, s. 147-177
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Tidskriftsartikel (refereegranskat)abstract
- Purpose: This study aims to examine the factors that influence the relationship between sustainability and financial performance (FP) of the European listed companies.Design/methodology/approach: This study analyzed data from 795 companies in 21 European countries by applying linear mixed-effects multilevel regressions, a two steps system generalized method of moments and quantile regression models to uncover the links between sustainability and FP.Findings: The past four decades have witnessed abundant research to determine the relationship between corporate sustainability and FP. Thus, conducting further research in 2023 could be seen as “reinventing the wheel.” Yet, earlier research considered firms as isolated entities with sustainability and FP being dependent only on that firm’s actions. By contrast, with the help of network governance theory, this study shows that a firm’s sustainability and FP depend on an interplay among interorganizational actors, such as institutional qualities, macroeconomic factors and an embrace of sustainability. Here, large firms play an essential role. Three significant findings are drawn. First, sustainability performance has a significant impact on FP in the European context. Second, the institutional quality (IQ) of the rule of law and control of corruption plays a crucial role in enhancing sustainability and FP, and finally the interaction of IQ and economic growth helps to increase companies’ market value (Tobin’s Q). The consistent and empirically robust findings offer key lessons to policymakers and practitioners on the interplay among multiple actors in corporate sustainability and FP.Practical implications: A synergetic multifaced relationship between governmental institutions and corporations is inevitable for ensuring sustainable development. The degree of intimacy in the relationship, of course, will be determined by the macroeconomic environment.Originality/value: In this research, this study theoretically and empirically identified that corporate sustainability and FP are not solely dependent on corporate operation. Rather, it is transformed, modified and shaped through an interaction of multiple actors’ trajectories in the macro business environment.
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| 9. |
- Rahi, ABM Fazle, 1989-, et al.
(författare)
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Sustainability Reporting and Management Control System: A Structured Literature Review
- 2022
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Ingår i: Journal of Risk and Financial Management. - Basel : MDPI. - 1911-8074 .- 1911-8066. ; 15:12
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Forskningsöversikt (refereegranskat)abstract
- The purpose of this paper is to contribute to the management accounting literature by reviewing how previous studies conceptualised the relationship between sustainability reporting and management control systems, analysing the main themes and discussing potential future developments of the sustainability reporting and management control systems (SRMCS) research agenda. This study builds on the structured literature review method by categorising and synthesising 15 years of research into the topic “sustainability reporting and management control”. Approximately 500 relevant articles were identified in the first round of searching Google Scholar and Scopus with the selected keywords, but after filtering and manual assessment, 45 articles were selected for the full review. Coding reliability was maintained with the K-alpha test. Our findings divulge that the researcher looks at the management control and the sustainability reporting agenda with just one eye. They either focus on management control or sustainability reporting. Very little research focuses on relationships. In addition, from the methodological point of view, we found that qualitative case studies and interviews dominate the field, together with commentary papers. We proposed a framework showing a complex and multifaceted relationship (a spider diagram) to conceptualise the synthesis of the literature. This framework is intended as a blueprint for the relationship between sustainability reporting and management control in order to design and redesign a company’s internal strategies on management control systems (MCS).
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| 10. |
- Rahi, ABM Fazle, 1989-
(författare)
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Unpacking women’s power on boards. Gender reward in board composition
- 2022
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Konferensbidrag (övrigt vetenskapligt/konstnärligt)abstract
- Participation of women on boards has long been a topic of debate in academia and practice. Yet, the threshold of women's participation in a board to obtain a synergetic impact on sustainable performance remains to be examined. Data from 21 European countries having 4661 firm-years of observation, this study revealed that women on boards positively affect sustainable performance in the European context, with approximately 30% participation by women on boards ensuring synergetic impact. To reach a conclusion, this study employs both static and dynamic models; thus, the finding is consistent and empirically robust.
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