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- Mapping regenerative business: a conceptual framework building upon
systems thinking in Southeast Asia-
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Abstract: Regenerative business has emerged as a transformative paradigm that moves beyond sustainability, focusing on creating net-positive impacts on ecological, social, and economic systems. Grounded in systems thinking, this study conceptualizes regenerative business through the perspectives of Southeast Asian youth. Using a mixed-methods design, the research first engaged 28 business-oriented university students in a structured concept mapping workshop to generate and cluster perceptions of regenerative business. This was followed by a survey of 238 university students, whose responses provided statistical validation through exploratory factor analysis. Systems thinking offers a holistic framework to understand the interconnections between regenerative business practices and broader socio-ecological systems, emphasizing adaptability, resilience, and feedback loops. The final analysis identified four primary clusters: Impact to Environment, Impact to Society, Innovation Practices, and Regenerative Business Models. Key findings highlight how regenerative businesses operate as adaptive systems that co-evolve with their environments, integrating circular economy principles, social equity, and systemic innovation to drive long-term transformation. This research contributes to the empirical literature on regenerative business by advancing a framework that balances stakeholder needs, fosters collaboration, and embeds regenerative principles within self-sustaining, interdependent systems. By applying systems thinking, this study underscores the necessity of dynamic, multi-layered interventions that ensure businesses transition from harm reduction to active ecological and social regeneration. The findings offer valuable insights for educators, policymakers, and businesses seeking to embed regenerative principles into management practices, fostering resilience and innovation in an increasingly complex global landscape.
PubDate: 2025-06-18
- Corruption among small and medium firms in Vietnam: the glass half empty
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Abstract: This study investigates the relationship between corruption, gender diversity in top management teams, and firm performance in Vietnam, drawing on the resource-based view’s mechanism. Analyzing a sample of 5616 firm-year observations measured biannually from 2005 to 2015, we demonstrate that the bribery amount a firm paid is significantly and positively associated with the firm’s gross profit. This contradicts prior empirical evidence and highlights the critical roles of intangible resources devoted to corruption in emerging markets such as business networks and time spent dealing with government bureaucracy. Additionally, we find that gender diversity in top management teams is not a significant predictor of gross profit, nor does it moderate the bribery-performance relationship, as has been alluded to in previous top management team research. Our findings highlight the disconnect between the enactment and enforcement of anti-corruption policies while also providing theoretical, managerial, and policy implications.
PubDate: 2025-06-16
- Special issue of the Asian journal of business ethics on global survey of
business ethics (GSBE) reports 2022–2024 from Asia, Australia, and
Russia—India-
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Abstract: India is a developing economy with the world’s largest population and medium human development. The country is the 5th largest in terms of world’s GDP and is poised to be a developed nation in the year 2047. The rapid expansion of state-of-the-art proves that India is ready for take-off. India is one of the youngest population nations in the world and would be much younger till 2050. The main challenge of Indian government is to prepare the youth with the quality training. Business ethics is a set of moral principles that arise in the conduct of business activity. The training specifically on business ethics is very significant for India in order to achieve higher socio-economic development. The study is an attempt to persuade academicians, business professionals, consultants, and researchers for crucial role of business ethics with regard to teaching, research, and training in the higher education system in India. It has been conducted during 2022–2024 to carry on in-depth exploratory research of ethical perceptions among 80 respondents having minimum education level of post-graduation. It used snowball sampling techniques and covered all regions of India. Throughout the study, the understanding business ethics has evolved in a wide variety of ways. To the academicians, the concept of ethics mostly relates to morality/truthfulness/good consciousness/honesty/transparency/inculcation of value/respect/responsibility/code of conduct/fair practices. Some of the respondents included broader concepts like democracy, inclusiveness, efficiency, environmental concerns, integrity, leadership, loyalty, and law abiding. Business ethics, more specifically, refers to applying appropriate business policies and practices in arguably controversial subjects. Other issues include corporate governance, insider trading, bribery, discrimination, social responsibility, and fiduciary responsibility. While many laws exist to set basic ethical standards within the business community, it is largely dependent upon the leadership within business to develop codes of ethics that go beyond the strict implementation of the law. As for research, respondents emphasize the themes of loyalty, respect, professionalism, secrecy, data privacy, choice, safety, accuracy, and confidentiality as the main ethical considerations in any business research. Experts in training and consultancy emphasize a shift of the popular management philosophy from pure authoritarianism towards more collaboration and working on equal footing. However, all respondents in academia and business agreed that a remaining problem in India is the lack of inculcating ethical values or establishing ethical norms in any type of organization, whether it is an educational institution, a consultancy firm or a business corporation. The serious challenges in the years to come are particularly in the areas of social media ethics, manpower management, corporate governance, environmental, social and governance (ESG) issues, artificial intelligence and automation, stakeholder capitalism and diversity, equity and inclusion, and a dynamic value system.
PubDate: 2025-06-13
- Special issue of the Asian Journal of Business Ethics on Global Survey of
Business Ethics (GSBE) reports 2022–2024 from Asia, Australia, and
Russia—Introduction-
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PubDate: 2025-06-13
- The relationship between corporate social responsibility and firm value as
mediated by labor productivity-
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Abstract: Studies on the relationship between corporate social responsibility (CSR) and firm value have reported mixed findings, often due to endogeneity issues and a lack of clarity with respect to the mechanisms linking CSR to firm performance. Using data from Japanese listed companies between 2010 and 2017, this study reexamines this relationship by focusing on the heterogeneous effects of Sanpo-yoshi, a traditional business ethic which has been deeply rooted in Japan’s corporate culture for over three centuries. First, firm-fixed effects regression results show that CSR has a positive impact on both firm value and labor productivity. Mediation analysis confirms that labor productivity partially explains the CSR–firm value link, with supporting evidence from Sobel tests and GMM IV regressions. To address endogeneity, we use the geographic distance from a CEO’s birthplace to Shiga Prefecture—origin of the Sanpo-yoshi business philosophy—as an instrumental variable. Furthermore, we investigate which human resource investments contribute to increased labor productivity and, therefore, firm value. Our findings show that while increasing the representation of Female Directors has no significant impact on firm value, prioritizing the employment of female workers and implementing initiatives to support them can significantly enhance both firm value and productivity. Given the corporate governance reforms that have aimed to promote board diversity and improve firm value since 2014, as well as the enactment of the Act on Promotion of Women’s Participation and Advancement in the Workplace in 2016, these results carry timely and valuable policy implications.
PubDate: 2025-06-12
- Discursive construction of government influence on state-owned enterprise
sustainability: a critical discourse analysis of South Korean SOEs’
sustainability practice-
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Abstract: While research on the government’s influence on state-owned enterprises (SOE) sustainability practices has expanded, most studies have predominantly focused on “what” the government is doing rather than the “how” it exerts its influence. This emphasis has led to neglect of the discursive strategies the government employs to shape SOE sustainability agendas. This study addresses this gap by employing Fairclough’s critical discourse analysis (CDA) across micro-, meso-, and macro-levels to explore how the South Korean government discursively constructs its influence on SOEs’ sustainability reporting. The micro-level analysis examines textual features in 16 sustainability reports published by SOEs during 2017–2018, a critical period marked by the Moon Jae-In administration’s enhanced emphasis on sustainability. At the meso-level, the study employs Dahan et al.’s (2015) stakeholder framework to identify governmental roles as “framework provider,” “business partner,” “interfering actor,” and “advocate.” The macro-level analysis contextualizes these findings within the broader sociopolitical landscape shaped by the 2017 policy aimed at strengthening SOEs’ social value. This study contributes uniquely by revealing how discursive strategies reinforce government influence, exposing underlying ideological and institutional dynamics beyond conventional regulatory perspectives.
PubDate: 2025-05-30
- The power of focus, emphasis, and intent: the impact of CSR strategic
orientation on market performance the impact of CSR strategic orientation
on market performance-
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Abstract: This study explores the strategic orientations of corporate social responsibility (CSR) and their impact on market and financial performance among firms in China. Using data collected from 602 firms, the study employs content and regression analyses to assess the influence of CSR dimensions—stakeholder focus, area of emphasis, and strategic intent. The findings highlight the critical, yet often overlooked, economic aspects of CSR, advocating for a multidimensional view that integrates stakeholder perspectives with the triple bottom line of sustainability. By demonstrating how strategically oriented CSR practices enhance market performance, brand equity, and customer loyalty, particularly in the dynamic Chinese market, this research provides valuable insights for global brands seeking to develop ethical and responsible supply chains in Asia. The study’s innovative methodology and empirical findings significantly contribute to the understanding of CSR’s role in business ethics and offer a robust framework for leveraging CSR to achieve competitive advantages and ethical brand value.
PubDate: 2025-05-14
- Local corruption and corporate risk-taking: new evidence from an emerging
market-
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Abstract: While prior research shows that corruption sands the wheel of firms’ risk-taking, this paper argues that the institutional environment in Vietnam may make local corruption grease the wheel of corporate risk-taking. Using a dataset of 7341 observations from 555 firms listed during the period 2008–2022, we document that firms headquartered in higher corruption provinces have higher incentives to take risks. Moreover, the association between local corruption and corporate risk-taking is weaker in state-owned and financially unconstrained firms.
PubDate: 2025-05-06
- Responsible leadership in creating socially responsible business through
impacting micro employee outcomes-
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Abstract: Drawing from the social learning and self-determination theory, we investigated the employee outcomes resulting from the perceived responsible behaviour of their leaders in the organisations through affective and normative commitment as a mediator. The proposed hypotheses were tested using structural equation modeling and followed two steps. The researchers administered the survey to collect data targeting 370 Indian middle-level managers working full-time. The study revealed that perceived responsible leadership considerably influences employee satisfaction and productivity. Furthermore, along with the direct significant relationship among perceived responsible leadership, employee satisfaction, and productivity, the results also indicated the presence of an indirect effect. This research guides new-age leaders on inducing employee productivity and satisfaction by leading responsibly and enhancing their affective and normative commitment. This study uniquely contributes to responsible leadership literature by linking it with self-determination theory. This study uniquely extends the limited understanding of responsible leadership and its relationship with employee satisfaction and productivity.
PubDate: 2025-05-04
- Reinvigorating the nexus between spiritual leadership and employee
happiness: evidence from the indian hospitality context-
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Abstract: The Indian hospitality industry has experienced significant growth following the pandemic. Hospitality means providing services to the guests, and the burden of providing such exceptional services is on the frontline employees (FLE). As a result, while keeping their guests happy, FLE have ignored to be happy themselves. Although being hospitable is ingrained in Indian culture, the challenging work situations, stress, and poor earnings have negatively impacted FLE’s quality of life. It is imperative that hoteliers and policy makers look at ways to cherish and engage their human capital. Therefore, this study proposes a framework for revitalising the Indian hospitality industry by investigating the direct and indirect ways to promote FLE happiness through spiritual leadership (SL), meaningful work and sense of community, based on the conservation of resources (COR) and cognitive appraisal theories. Survey data was gathered from 362 FLE across India, and data was analysed using SEM and PROCESS macro V4.1. Results indicate that SL contributed greatly to improving the beneficial effects of meaningful work and sense of community on FLE happiness through serial mediation paths. Additionally, however, the findings also revealed a curvilinear relationship between SL and FLE happiness, indicating that too much of SL was not always beneficial, and suggesting new lines of inquiry. This study shed light on theoretical and managerial implications from a service industry context, thus reinvigorating research in the hospitality industry.
PubDate: 2025-04-28
- How far does membership in the Chinese government and the party contribute
to wealth accumulation and protection: an empirical investigation-
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Abstract: How significant is membership in the Chinese government and party organizations, such as the National People’s Congress (NPC) and the Chinese People’s Political Consultative Conference (CPPCC), in shaping the wealth of private sector elites' Analyzing China Rich List data (1999–2015) with Ordinary Least Squares regression, Propensity Score Matching, and the Cox Hazard model, this study finds that NPC and CPPCC affiliation significantly boosts initial wealth accumulation, while Chinese Communist Party membership alone has minimal impact. However, political connections alone do not ensure long-term financial security, as industry positioning and inherited wealth play growing roles. Entrepreneurs in state-backed strategic industries gain wealth quickly but face volatility, while traditional sectors provide stability. Second-generation elites benefit from inherited wealth but experience higher early exit risks. A generational shift indicates a move toward market-driven success, though political influence remains crucial. The study underscores the ethical concerns of crony capitalism, where political ties distort competition and corporate accountability, offering insights into China’s evolving state-business relations.
PubDate: 2025-04-21
- Sustainable development practices as a mediator: linking entrepreneurial
orientation to SME business performance-
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Abstract: Although sustainable development is increasingly prioritised, many entrepreneurs remain skeptical about the appropriateness of sustainable practices for small and medium enterprises (SMEs), questioning the value of adopting green initiatives. Grounded in the resource-based view, this study investigates the mediating role of sustainable development practices in linking entrepreneurial and international orientations and business performance in SMEs. Data were gathered from 105 SME owners and senior managers across multiple sectors using the drop-off and pick-up method and analysed using partial least squares (PLS) path modelling. The findings reveal that sustainable practices play a critical mediating role in enhancing business performance. Specifically, entrepreneurial orientation positively influences business performance indirectly through engagement in sustainable development practices, while international orientation does not produce a similar effect. This highlights the importance of aligning entrepreneurial traits, such as innovation, proactiveness, and risk-taking, with sustainability-oriented strategies. Additionally, the model’s predictive capability was assessed, and the study provides both theoretical insights into the mediating mechanisms of sustainability and practical recommendations for SMEs aiming to adopt sustainable business practices.
PubDate: 2025-02-21
- Perceptions of moral capital by marketers: a grounded theory study in Yazd
traditional market-
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Abstract: Ethics is integral to the social fabric, serving as a spiritual cornerstone for the continuity and progress of society. However, business ethics appears to have shifted in recent years, with ongoing debates around the nature of ethical and unethical practices in various markets. This study investigates the dynamics of market ethics in the traditional bazaar of Yazd, Iran, against the backdrop of a perceived decline in ethical standards and fairness. Using a qualitative-interpretive approach and grounded theory methodology, we conducted in-depth interviews with 21 seasoned marketers (aged 34 to 79) from the Zargari, Khan, and Shahzad Fazel markets, each with over 15 years of market experience. The analysis identified several main categories, including the erosion of trust, material preferences, the negative effect of virtual space, reducing the influence of religion, economic problems and inflation, the formation of competitive market, and lack of proper supervision. The core category, “erosion of moral capital in the marketplace,” emerged from these categories, encapsulating the broader shift. Findings indicate a notable decline in market ethics, driven by intersecting social, individual, and environmental factors. This study offers insights into the complex factors influencing ethical degradation in traditional markets and underscores the need for renewed attention to ethical standards in commercial environments.
PubDate: 2025-01-30
- Truthfulness in business managers: views on perception of integrity,
ethical challenges, and strategic responses-
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Abstract: The study objective is to understand the perception of truthfulness among business managers as practiced in organizations, the critical situations that test their truthfulness, and their responses to such situations. A qualitative approach involving conventional content analysis was adopted to address the research objectives. The results indicate that managers carry a conventional and altered view of truthfulness. While the conventional view encourages them to expect perfection and righteousness in the workplace, the altered view convinces them that small compromises resulting in a gain, lies to avoid interference, and dishonesty in response to non-transparency in management, are acceptable and judicious. Target pressure, coercion to conceal the fact, taking leave, or working from home tested the truthfulness of managers apart from incentives and promotion aspirations. To respond, business managers choose to fight, succumb, or cope by being diplomatic. The study provides meaningful implications for new employee orientation and management education.
PubDate: 2025-01-24
- Effects of Confucian values and national culture on business ethics in
China: an empirical examination-
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Abstract: Abstract China’s business sector has been described as facing serious ethical challenges, including corruption and bribery, distributive injustice, environmental pollution, and misspending of public funds. Unethical decision-making in business represents a potentially destabilizing force for government, business, and society. Recent calls for research that is detailed, nuanced, contemporary, and context-specific on the effects of Asian national business systems on ethical business practices, according to Pereira et al. (2017), are particularly relevant for countries including China that possess the entanglement of a “multiplexity”-multiple business systems co-existing within the same economy reliant on ethics and institutional trust for effective functioning, as discussed by Witt and Redding (2013). To this end, we conduct exploratory research investigating the relationship among Confucian values, Hofstede’s national culture, and ethical decision-making within a business context in China. Using data collected from 550 Chinese MBA students and business executives, results indicate that although both Confucian values and Hofstede’s national culture dimensions are associated with the use of egoism and justice in ethical decision-making scenarios, differential patterns emerged in these relationships. Confucian values were more predictive of outcomes. Of particular interest were the relationships between Confucian values and ethical criteria of yi and justice as well as li and zhi with egoism. Results suggest if the goal is enhancing institutional trust through an increased use of more principled justice-oriented ethics in business in China, an emphasis should be placed on yi (righteousness), coupled with a deemphasis on hierarchy and tradition in the form of li (ritual propriety) and zhi (wisdom). Including love of learning (haoxue), trust (xin), a long-term orientation, and individualistic messages oriented towards family and self-sufficiency may also strengthen overall ethical decision-making for SMEs, MNCs, and SOEs in navigating a multiplexity environment.
PubDate: 2024-12-16
- Corporate ethics under scrutiny: shareholder and manager trading in
financially distressed firms-
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Abstract: This study explores the ethical implications of information asymmetry in corporate governance, focusing on insider trading by firm managers and the largest shareholders. We empirically analyze trading behaviors around distress events and their subsequent recoveries in the context of the Chinese Stock Exchange. The findings reveal that both managers and the largest shareholders exploit their privileged access to information for personal gain, significantly impacting other investors. However, this behavior is less prevalent among state-owned enterprises (SOEs), where the largest shareholders do not engage in opportunistic trading. In contrast, family-owned firms exhibit a heightened use of insider information, with the largest shareholders strategically trading to maximize personal benefits. Our analysis extends to unobservable insider information, demonstrating that the largest shareholders’ trades are strongly associated with negative performance events, reinforcing the presence of information asymmetry. These results underscore the need for stronger regulatory frameworks to safeguard investor interests and address ethical concerns in financial markets.
PubDate: 2024-12-11
- Do political connections and foreign investments matter for ESG disclosure
in emerging countries' Evidence from Vietnam-
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Abstract: This study aims to determine whether political connections and foreign investments influence the level of Environmental, Social, and Governance (ESG) disclosure among listed firms. To empirically explore these relationships, we utilized a novel dataset of 111 listed manufacturing firms on the HOSE stock exchange in Vietnam, covering the period from 2015 to 2022. Content analysis was conducted to assess the levels of ESG disclosure, while ordered logit and random effect estimators, along with several robustness checks, were applied to quantify the impacts of political connections and foreign investments. Our findings reveal that foreign connections are positively correlated with higher levels of ESG disclosure, whereas politically connected firms are associated with negative impacts and lower levels of ESG disclosure compared to those with foreign connections. These results address the research questions effectively and contribute to the literature by offering an updated view of current ESG practices in Vietnam, an emerging economy with evolving ESG norms. The findings provide both theoretical and practical contributions to the understanding of ESG disclosure, with important implications for policy-makers and business leaders.
PubDate: 2024-12-02
- A qualitative study on the elements of ethical culture among the managers
of small and medium-sized enterprises (SMEs) in Malaysia-
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Abstract: Small and medium-sized enterprises (SMEs) play a crucial role in national economic growth and contribute significantly to GDP, acting as the backbone of economies in competitive markets. However, ethical issues in SMEs are often overlooked compared to those in large organisations due to limited public financial exposure and minimal media coverage. Research on ethical culture is still limited, particularly in SMEs, as past studies have predominantly focused on large organisations. To gain deeper insights into the ethical culture of SMEs, more qualitative research is needed to uncover the complexities of ethical conduct and organisational dynamics in SMEs. Therefore, this study employs a qualitative approach to explore the elements of ethical culture implemented in Malaysian SMEs. The data, gathered through in-depth interviews with eleven SME managers in Malaysia, revealed that ethical culture is reflected through formal systems, informal systems, leadership, and the newly highlighted element of religiosity. These four elements were explained with three goals for each element: communication, training, and management. The ethical issues faced by SMEs (favouritisms, selling company inventories, and disrespect towards female-led managers) were also highlighted. Accelerators (family influence, customer retention) and barriers (financial constraints) in implementing ethical culture were identified. Interestingly, this study highlights the significant role of religiosity in the ethical culture of SMEs, contributing to the literature and serving as a framework for future research. It aims to provide valuable insights for policymakers, business leaders, and stakeholders seeking to promote a robust ethical culture within the context of Malaysian SMEs.
PubDate: 2024-11-29
- Authority and responsibilities of an alliance manager: sustainability
alliance case studies between corporate and heterogeneous sectors-
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Abstract: In a world undergoing rapid change, the effective use of strategic alliances is important for a company to gain a competitive advantage. While previous research has mentioned the importance of understanding the authority and responsibilities of a successful alliance manager, few studies have investigated this topic using systematically gathered real-world data. This study aims to determine the kind of authority and responsibilities an alliance manager has in successful sustainability alliance projects. These generally require cooperation with players in heterogeneous sectors. An analytical framework was developed to examine sustainability alliance cases. Findings reveal that alliance managers at companies with excellent sustainability performance operate in an environment in which psychological safety is ensured. This enables them to autonomously develop emergent activities inside and outside the organization and have greater influence over alliance projects than the authority granted to them. This study suggests that it is essential for an organization to have a management philosophy based on sustainability as a standard for making value judgments. The communication of this philosophy contributes to the psychological safety of staff and thus their initiative taking in boundary spanning.
PubDate: 2024-11-18
- Special issue of the Asian journal of business ethics on global survey of
business ethics (GSBE) reports 2022–2024 from Asia, Australia, and
Russia—China: Hong Kong-
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Abstract: Hong Kong has been the Asian financial hub and trading center for years. With its close proximity to mainland China, Hong Kong has successfully attracted numerous foreign direct investments that seek to acquire a share in the China market via operations in Hong Kong and develop connections with countries in the Asia-Pacific region. However, Hong Kong has been facing economic and political challenges in recent years. Restoring investors’ confidence appears to be a solution to these challenges. The authors believe that moral development and ethical business behavior are the keys to restore investors’ confidence. The Junzi model was adopted to review the current practice pertaining to the business ethics of senior executives of different industries in Hong Kong. This country report features their opinions on making a virtuous business decision.
PubDate: 2024-11-12
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