Sustainable financing practices through green bonds : What affects the funding size?
- Authors: Barua, Suborna , Chiesa, Micol
- Date: 2019
- Type: Text , Journal article
- Relation: Business Strategy and the Environment Vol. 28, no. 6 (2019), p. 1131-1147
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- Description: Financing through the supply-driven green bonds market has significantly surged in recent years. In this paper, we examine the factors influencing the size of financing though green bond supply, using cross-section OLS regressions on a global dataset for 8 years (2010–2017) sourced from Bloomberg. We consider a set of tridimensional factors: bond characteristics, issuer characteristics, and market characteristics and examine their effects on issue size. Alongside whole sample estimation, we produce year-wise estimations to realize the evolution and persistence of the effects over time. We then produce estimates across rating grades of the bonds. Finally, we carry Blinder–Oaxaca decomposition to see if average issue size has significantly changed over time and whether the factors considered can explain the difference. We find a large number of factors affecting issue size asymmetrically; however, many of the effects do not persist over time and are heterogeneous across rating grades. In contrast to the aggregate market trend, we find no evidence of increases in average issue size in the recent year. Furthermore, the average financing size is found significantly lower for high-grade bonds. The paper provides a basis for encouraging green bond supply, particularly considering the rating of the bonds and the issuers.
Institutional isomorphism and whistle-blowing intentions in public sector institutions
- Authors: Pillay, Soma , Reddy, P. , Morgan, Damian
- Date: 2017
- Type: Text , Journal article
- Relation: Public Management Review Vol. 19, no. 4 (2017), p. 423-442
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- Description: Over the years the new institutionalism in public sector analysis has contributed significantly to our understanding of the dynamics of public sector institutions. While it has moved research away from behavioural explanations to recognizing political and cultural contexts, the focus on public sector institutions has been minimal. This research examines, by self-report questionnaire from employees in two government organizations, how institutional mechanisms shape whistle-blowing intentions within the context of a developing country. Despite the country context, findings from this study are encouraging in that participants’ intentions to blow the whistle were found, generally, to be strong. © 2016 Informa UK Limited, trading as Taylor & Francis Group.
Corporate social disclosures in the knowledge-based sector in an emerging economy
- Authors: Joshi, Mahesh , Sidhu, Jasvinder , Kansal, Monika
- Date: 2013
- Type: Text , Journal article
- Relation: Corporate Ownership and Control Vol. 10, no. 3 CONT2 (2013), p. 237-249
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- Description: The purpose of this paper is to examine corporate social responsibility (CSR) reporting by the BSE TECk Sector in the developing economy of India. Using content analysis, this study analyses the disclosures of corporate social responsibility elements by the BSE TECk Sector in the annual reports. CSR disclosures are analysed in context of sources, nature and the item of information.The findings of the study advice that all the companies in the BSE TECk index disclose social issues in their annual reports. Human resources related issues have found greater attention in annual report of the sample companies and less attention has been provided to ethical issues. The study highlights that it is important for the corporate sector to disclose CSR related matters as part of their overall corporate and business performance reporting model. The paper also provides some practical implications about reporting of socially responsible activities for knowledge based companies.
Exploring predictors of job satisfaction in call centres - The case of Australia
- Authors: Annakis, John , Lobo, Antonio , Pillay, Soma
- Date: 2011
- Type: Text , Journal article
- Relation: Corporate Ownership and Control Vol. 8, no. 3 D (2011), p. 376-395
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- Description: In this paper we examine predictors of job satisfaction within the call centre industry. Using a qualitative methodology, we investigate the nature and extent of job satisfaction of customer service representatives in two large Australian call centres. The findings from the study confirm that monitoring, personal privacy and flexibility correlate to workers' wellbeing and job satisfaction.
Institutionalising a value enacted dominant organisational culture : An impetus for whistleblowing
- Authors: Dorasamy, Nirmala , Pillay, Soma
- Date: 2011
- Type: Text , Journal article
- Relation: Corporate Ownership and Control Vol. 8, no. 3 C (2011), p. 297-304
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- Description: Whistle blowing on organisational wrongdoing is becoming increasingly prevalent. However, a renewal of existing literature reveals that every potential whistle blower is not always inclined to blow the whistle, despite protection being accorded to whistleblowers through legislation. The cost of blowing the whistle can be a deterrent to potential whistle blowers. It is quite plausible that an organisational culture which institutionalizes a dominant value based system can decrease whistle blowers expectations of retaliation. The purpose of this article is to provide a conceptual framework for a dominant value enacted organisational culture which can serve as an impetus for whistle blowing in the public sector. It is important that organisations make their value systems "lived" practices to motivate potential whistleblowers to report on wrongdoing. It can be argued that the institutionalisation of enacted values can lead to low perceptions of retaliation, which is often a deterrent in blowing the whistle.
Whistleblowing : Impediments to effective implementation within the South African public sector
- Authors: Dorasamy, Nirmala , Pillay, Soma
- Date: 2011
- Type: Text , Journal article
- Relation: Corporate Ownership and Control Vol. 8, no. 3 B (2011), p. 196-208
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- Description: This purpose of this article is to explore impediments to effective whistleblowing as a strategy for promoting anti-corruption practices within the South African public sector. Corruption, which violates the public service code of conduct; deters foreign investment, increases the cost of public service delivery, undermines the fight against poverty and unnecessarily burdens the criminal justice system. The article addresses the question on whether legislation on whistleblowing is adequate to encourage whistleblowing in the public sector.A review of literature determines that the effective implementation of whistleblowing legislation is largely dependent on addressing the challenges identified in the article. The quantitaive research method was employed in the study to ascertain the views of employees in the public sector on whistleblowing. Empirical findings confirm the hypothesis that the protection of whistleblowers through legislation is inadequate to encourage whistleblowing. The article provides a conceptual framework for the effective achievement of the intended outcomes of whistleblowing in the public sector.
Understanding financial information used to assess small firm performance : An Australian qualitative study
- Authors: Halabi, Abdel , Barrett, Rowena , Dyt, Robyn
- Date: 2010
- Type: Text , Journal article
- Relation: Qualitative Research in Accounting and Management Vol. 7, no. 2 (2010), p. 163-179
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- Description: Purpose – The purpose of this paper is to investigate the reality of financial and management accounting in a small group of small firms. Specifically, from the owner's perspective, an exploration is undertaken to see what financial information is collected, how it is used (or not) to make business decisions and evaluate the firm's performance, and the role played by the accountant in that process. Design/methodology/approach – A phenomenological paradigm underpins this exploratory study. Semi-structured interviews were undertaken with the owners of ten small firms, where the focus was on understanding what happens in an organisational setting, as opposed to theory and textbook practice. Findings – The qualitative data supported prior research in other countries. The in-depth analysis revealed a very basic understanding of accounting information and problems with the financial literacy amongst these small firm owners. Accounting reports were not widely produced or used, so an informal assessment, such as how much cash was in the bank, was the primary means of assessing business performance. Accountants were used for taxation services, although some owners sought more general business advice. Originality/value – An understanding is developed of why there might be a gap between textbook rhetoric and reality of accounting practice in small firms. The conclusion is that accounting textbooks need to include more information about the reality of financial management in small firms.