A pinboard by
Anna Firsova

After completing my PhD, I work on how to make the growth of emerging economies more sustainable.


Sustainability is different for business in the developed and developing countries

Is Sustainability which is presented through environmental, social and economic performance similar for business companies in developed and developing and emerging market countries?

While some sustainability models and tools such as importance of strong CEO leadership seem to universally work for all companies, in many instances there are significant differences in understanding and application of corporate sustainability in the developed and developing world.

So, what is the main discrepancy?

To assess corporate sustainability, academic and business researchers often address sustainability reports submitted to the Global Reporting Initiative database.

Today many Western companies in sustainability reports seem to devote less attention than before to their local stakeholders (interested parties), and sometimes it is not even disclosed how the stakeholders are included in shaping the report content.

At the same time, reporting business in emerging and developing countries on the contrary pays a lot of attention to their neighbour stakeholders, in particular, to their employees and local communities. Important themes there are local volunteering and philanthropy.

Even multinational corporations modify and adapt their sustainability policies for local conditions, for example, while at global level, corporate policies and reporting are highly focused on greenhouse gas abatement and climate change, at local level they are discussing energy efficiency.

It seems that business in developed countries is more concerned with global issues, and in developing and emerging markets business goes local to solve everyday problems.

Is it done altruistically? Well, Corporate Social Responsibility (CSR), social and environmental policies are nowadays integral parts of management strategy of any successful company. It is generally included for sake of company’s reputation and, ultimately, for profit. At the same time, responsible business has a positive impact on, first of all, local communities, and potentially can also positively affect social and environmental change in developing and emerging market countries.

by Anna Firsova


Corporate Social Responsibility Reporting and Varieties of Capitalism: an International Analysis of State-Led and Liberal Market Economies

Abstract: Different studies carried out to date in the corporate social responsibility (CSR) field have focused on analysing certain explanatory factors of CSR reporting in different countries or individual factors, such as firm size, activity sector, good corporate governance, economic and financial profitability, and the cost of equity capital, among others. In contrast, other aspects of national cultures and institutions that make up the macroeconomic, legal, and political context of a country have been addressed to a lesser extent. This paper analyses how aspects of national institutions affect CSR reporting on an international level using the varieties of the capitalism approach. This approach is concerned with companies and the ways in which they interact strategically to solve the coordination problems that arise from their activities. The study uses data from the Thomson Reuters Eikon database and the Global Reporting Initiative (G3.1) for a sample of firms from countries classified as state-led market economies (France, Portugal, and Spain) and countries considered liberal market economies (the USA and the UK). The results obtained by linear regression show those companies in state-led market economies disclose more concerning CSR than companies in liberal market economies. Moreover, firms in state-led market economies disclose more on stakeholder aspects such as social, environmental and business behaviour than companies in liberal market economies. This may be due to coercive pressure, that is, the existence of a significant and well-developed legal system that seeks to protect stakeholders and is not exclusively oriented towards shareholder interests. Copyright © 2017 John Wiley & Sons, Ltd and ERP Environment

Pub.: 06 Mar '17, Pinned: 12 May '17

Internationalization and performance of Indian born globals

Abstract: International Journal of Emerging Markets, Volume 12, Issue 1, Page 108-124, January 2017. Purpose The purpose of this paper is threefold: first, to study internationalization-performance relationship of Indian born global (IBG) firms from multi-theoretical lens and establish the nature of this relationship; second, to highlight the role of foreign equity in moderating this relationship; and third, to establish the relevance of export intensity (EI) in determining these firms’ financial performance. Design/methodology/approach In total, 411 IBG firms were identified based on born global (BG) definition and post-entry internationalization age requirement of this study. A balanced panel comprising of three years from 2010 to 2012 was analyzed using pooled panel and moderated multiple regression techniques. Findings The authors empirically prove that though EI and financial performance are positively related at overall level, this relationship is curvilinear in nature. In presence of foreign equity this positive curvilinear relationship is moderated to inverted-U shape. Research limitations/implications The data sample is restricted to 411 private limited IBGs between the years 2009 and 2012. Implications of the findings are for policy makers and managers to sharpen their strategic foresight for exporting firms in its post-entry period. Also, investors can take level of internationalization into cognizance when investing in BG firms. Practical implications The authors believe the results have practical implications for numerous parties, such as shareholders, institutional investors, scholars, policymakers and managers. It emboldens modern day managers to make further foray into internationalization due to its positive benefits on both productivity as well as profitability. Also, firms that look for foreign equity participation have to balance their strategies for greater scale and scope into international markets. Originality/value This is the first study that brings out the vital relationship aspect of EI with financial performance of IBG firms in their post-entry internationalization period, adding to international business literature in area of BG firms in their post-entry internationalization period.

Pub.: 13 Jan '17, Pinned: 08 May '17

Development of a Global Energy Management System for non-energy intensive multi-site industrial organisations: A methodology

Abstract: For multi-site organisations, informed decision making on capital investment aimed at improving energy performance and cutting carbon emissions, across a global site base, is a complex problem. This work presents the systematic development and implementation of a novel energy management methodology for multi-site organisations to reach optimal efficiency across their network. The methodology, a Global Energy Management System, is based on the following strategic pillars: (1) Site Characterisation; (2) Performance Evaluation; (3) Energy Strategy; and (4) Shared learnings and dissemination. These pillars are underpinned by essential foundations: (a) Global energy team and communication forum; (b) Knowledge base at site and global level; and (c) Corporate Energy Policy. The methodology incorporates both quantitative performance evaluation using novel key performance indicators and benchmarking, as well as qualitative characterisation using energy management maturity models. The methodology culminates with a systematic, repeatable and scalable decision support framework, underpinned by a multi-criteria decision-making methodology. A detailed case study is presented for a multi-national corporation in the life sciences industry, which resulted in increased awareness of energy and carbon emissions, as well as related impacts on business continuity, corporate sustainability and social responsibility. This triggered increased investment in energy efficiency measures, thus promoting the conditions for continuous improvement towards optimal network performance.

Pub.: 25 Jan '17, Pinned: 08 May '17

A generic planning approach for sustainable supply chain management - How to integrate concepts and methods to address the issues of sustainability?

Abstract: Forced by competitive, legislative and customers' pressures, corporate executives are supposed to consider sustainability aspects of value creation which induces a new set of challenges within decision-making. Unfortunately, guidelines supporting comprehensive analysis, especially concerning the evaluation of environmental and social performance of decision alternatives, are missing. This hinders the advancements in corporate sustainability. Questions arise on how to measure and balance respective indicators with traditional economic objectives. To fill this void, this research sets out to develop an intuitive and holistic planning framework for advancing sustainability along supply chains. In a first step, we identify sustainability issues and indicators as well as decision-support methods by scrutinizing literature on sustainable supply chain management. Based on this, we develop a planning framework that supports executives in evaluating and deciding upon corporate sustainability initiatives. The framework comprises three consecutive phases of planning: ‘Problem definition’, ‘Assessment of alternatives’, and ‘Decision analysis’. For each phase we propose appropriate tools distinguishing concepts of sustainable supply chain management (e.g. Sustainable Logistics and Sustainable Manufacturing), methods for measuring the ecological and social efficiency of decision alternatives, and quantitative decision-support techniques able to balance trade-offs between the three dimensions of the triple bottom line. As a result, this article presents a framework for guiding corporate decision-processes. From the academic angle, the article contributes to the research field by providing a structured integration of concepts and methods utilizable in the pursuit of ecological and social improvements along the value chain.

Pub.: 22 Mar '17, Pinned: 08 May '17