СОЦИАЛЬНАЯ ОТВЕТСТВЕННОСТЬ КОМПАНИЙ И ИХ ФИНАНСОВАЯ РЕЗУЛЬТАТИВНОСТЬ: СРАВНЕНИЕ РОССИЙСКИХ И ГОЛЛАНДСКИХ КОМПАНИЙ
Frontiers of Entrepreneurship Research is a compilation of the conference proceedings and the top papers presented each year at the Babson College Entrepreneurship Research Conference (BCERC). BCERC is widely considered the premier research conference on entrepreneurship and the work truly exemplifies new frontiers in the discipline of entrepreneurship. Full text papers are peer reviewed; summaries, poster sessions and interactive papers are not.
The first volume involves the Russian Federation as a common denominator with either Norway (oldest multilateral region in the Arctic) or the United States (sharing with Russia the longest maritime boundary in the world) to interpret changes with connected biophysical and socio-economic systems that underscore decisions across a “continuum of urgencies” from security to sustainability time scales. The second and third volumes will emerge from presentations during the annual Arctic Frontiers Conferences in Tromsø, Norway, starting in January 2020. Volume 2 will consider circumstances associated with areas beyond sovereign jurisdictions from Arctic and non-Arctic perspectives, recognizing the international community has unambiguous rights and responsibilities in the Arctic High Seas under the law of the sea. Volume 3 is intended to synthesize insights on a pan-Arctic scale, analogous to the world ocean across all sea zones, involving decisions to achieve ongoing progress with sustainability, coupling governance mechanisms and built infrastructure. Throughout this book series, which we expect to expand beyond the Arctic, science diplomacy will be applied as an international, interdisciplinary, and inclusive (holistic) process, facilitating informed decisionmaking to balance national interests and common interests for the benefit of all on Earth across generations. With holistic integration, this book series will reveal skills, methods, and theory of informed decisionmaking that will continue to evolve, contributing to balance, resilience, and stability that underlie progress with sustainability across our home planet.
A sustainability perspective is a practical today's goal for collaboration of state, business and society. The special role within this triad belongs to business companies, which integrate the sustainability principles into their strategies to improve organizational processes and long-term growth. Quality management system (QMS) is an important tool to ensure sustainability through business performance. According to the International standard organization survey of QMS, more than 1 million certifications issued in 178 countries by 2010. The position according to which corporate management of sustainability by the help of QMS, which corresponds to international standard ISO 9000 is presented in the paper. The aim of the paper is to examine the factors, which affect organizational decision of the companies in the emerging countries to implement QMS ISO 9000. The impact of internal and external factors which influence managerial decision of QMS implementation is analyzed in the paper. Specifically, the similarities and differences between the motivations of companies from the Commonwealth of Independent States (CIS), new members of the EU countries and countries of the Southern Europe (which aren’t the members of the EU) within the implementation of the QMS ISO 9000, are discussed. The empirical cross-country analysis is based on 2002–2009 data from the Business Environment and Enterprise Performance Survey (BEEPS), conducted by the World Bank and the European Bank for Reconstruction and Development (EBRD). Binary logistic regression was used to analyze the data. The study identifies the role of economic development and institutional environment in the QMS ISO 9000 implementation. There are highlighted three “portraits” of companies, which implemented QMS: (a) from the Commonwealth of Independent States (CIS) countries; (b) from the new EU members countries; (c) from the Southern Europe countries, which aren’t the members of the EU. The results show that QMS ISO 9000 implementation leads to increase of competitive ability and investment attractiveness of the company, to improvement of product quality and stakeholders communications, to human resources development. These business processes improvements, as a QMS implementation result, can potentially activate the company’s sustainable effects and then - national and global sustainability transformations.
Сorporate social responsibility (CSR) and sustainable business is one of the global trends. Abundance of corporate social responsibility ratings allows us to trace the relationship of this parameter with the financial and organizational results of the company. Current studies in this area are based on qualitative methods and small sample of firms that did not allow to give a clear answer about the presence or absence of the correlation. Correlation analysis of a large number of companies allowed us to reveal the relationship between the financial and organizational results of the company and its social responsibility level. One of the most significant results is the identification of a positive correlation between CSR level of revenue and long-term organization.
The chapter discusses the possibilities and limitations of different policy measures aimed at promoting behavior change at a large-group scale.
Peculiarities of making of managerial decisions in modern business systems, predetermined by observation of the basic principles, are shown: constant monitoring of external environment for determining new possibilities and actual problems and determining the need for managerial decisions; founding on materials of marketing research, conduct of marketing communications for informing and supporting loyalty of interested parties in the process of implementation of decisions; and striving for increasing or at least preserving the uniqueness and effectiveness of business system during decision making (criterion of optimality of decisions).
The article presents analysis of the impact of human resource management systems (HRM) on the financial performance of banks operating in the Russian market. The sample includes 67 banks with different organizational characteristics (nationality of capital, ownership, lo-cation of the head office, number of years of operation in the Russian market). The research is based both on qualitative (a survey of heads of HR services of banks) and quantitative (analysis of financial statements of banks). Data were collected in the period from 2011 to 2015. Initially, the main indicators characterizing the effectiveness of the HRM system (labor productivity and return on investment in human capital), as well as indicators of the financial performance of banks (return on assets and return on capital), were calculated. Further, with the help of the system of econometric equations, the impact of performance indicators of HRM systems on financial results of banks was determined. The study revealed that, on one hand, implementation of the functions of the HRM system does not have a positive impact on financial performance of the bank. At the same time, the impact of effects of some particular variables characterizing the HRM system itself (orientation on the strategic goals of the bank, the composition of the functions performed, the automation of functions, the flexibility and innovation of the HRM system, the amount of personnel costs) on performance of banks was revealed. So, the positive effect of the HRM system arises from its orientation towards the strategic goals of the bank, as well as with the use of electronic systems that automate the functions of HRM and thus improving the timing and quality of their implementation. Together, these variables, characterizing the HRM system, increase the return on investment in human capital. If the bank also achieves the flexibility and innovation of the HRM system, then labor productivity also increases. This, in turn, has a positive impact on the financial performance of banks.