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Purpose: The purpose of this study is to evaluate whether the implementation of sustainable business models contributes to improving a firm's performance during a global crisis, such as the one caused by COVID-19. Based on the triple bottom line theory, the paper explores the relation between the creation of value through solid corporate social responsibility (CSR) strategies, United Nations (UN) Global Compact's (GC) business model proposals and Global Reporting Initiative's (GRI) reporting scheme. Design/methodology/approach: The present paper studies companies within the European Union, focusing specifically on the long-term impact of using the world's most widely used standards for sustainability reporting – the GRI's standards and/or the UNGC management models, as well as on the firm's performance based on the financial results during COVID-19 crisis. To achieve this goal, the study analyses the share price of firms publicly listed in the FTSEMIB (benchmark index of Italy's largest trading platform) out of those companies that are implementing the UN and GRI's tools. Findings: Findings show how a commitment to sustainable business models and long-term CSR strategies can contribute to firm's ability to overcome periods of economic crisis. Furthermore, implementing GRI standards and UNGC guidelines within the business model seems to have a positive impact in overcoming a hard context such as COVID-19. In addition, it contributes to a better understanding of stakeholders' needs, consumer profiling and value creation. Originality/value: This study evaluates firms' business models, considering the effects of decisions made in the context of COVID-19. The role of UNGC and GRI is evaluated in terms of their contribution to firms' financial performance and corporate reputation during a context of hardship. Consequently, this study contributes to academia and practice, adding value in areas related to strategic planning and business model design. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to identify the changes in the share of large public interest entities (PIEs) in European Union (EU) Member States providing Sustainable Development Goal (SDG) reporting prior to (2017) and after (2019) the implementation of Directive 2014/95/EU and the factors that influence their decisions to provide SDG reporting in 2019. Design/methodology/approach: The authors use the multilevel theory of social change in organizations as the theoretical background. The sample consists of 341 PIEs based in the EU Member States, for which reports published in 2017 and 2019 are available in the global reporting initiative sustainability disclosure database. The authors analyzed the data using the statistical significance test of equal proportions and the logistic regression model. Findings: The study findings allow to identify a significant positive change in the share of companies providing a reference to SDGs in 2019 compared with 2017. The research confirms that companies' engagement in United Nations Global Compact and previous experience in sustainability reporting positively influences the decision to report on SDGs in 2019. Contrary to the expectations, industry, size, SDG implementation score, future orientation of government and corporate governance score do not seem to be relevant factors influencing PIEs' disclosures. Originality/value: The paper adds to the understanding of the differences in SDG reporting within the EU, which is seen as a frontrunner in implementing the 2030 Agenda and the SDGs. [ABSTRACT FROM AUTHOR]

Purpose: Whereas in developed countries, sustainability primarily focuses on environmental topics, in developing countries the issues of poverty, development and equity are equally, if not more, important. The purpose of this paper is to apply measures of social and environmental sustainability to assess sustainable development for the period 2005–2015 across a sample of 94 countries for which relevant data are available. Countries include two groups: developed and developing countries. Design/methodology/approach: Using the index-based approach introduced by the World Economic Forum in its Global Competitiveness Project, a range of indicators are collected for estimating trends in both social and environmental sustainability. For the panel of data identified, a dynamic panel data estimator method is applied to the data set constructed. This paper presents the empirical results identifying key competitiveness factors related to social and environmental sustainability (separately and combining both aspects in a comprehensive sustainability framework). Findings: This study explores how sustainable competitiveness offers a comprehensive assessment of the inter-related dynamics of the social, the environmental and economic building blocks of sustainable development simultaneously. Performance impacts are found to differ substantially across two groups of countries depending on their development level. This highlights the challenges in shaping and achieving sustainable development goals. Originality/value: To the best of the authors' knowledge, this research is novel in examining the intersections between economic competitiveness and environmental and social sustainability addressing an identified research gap. In addition, the paper investigates the most important competitiveness pillars focusing on both strengths and weaknesses in sustainable competitiveness across developed and developing countries. [ABSTRACT FROM AUTHOR]

Purpose: This study aims to look at how financial technology (FinTech) companies adhere to sustainable standards in contrast to their counterparts. Following the validation of its new sustainability index, this study looks into the impact of sustainability on the stock performance of FinTech companies. Design/methodology/approach: To efficiently test the hypotheses, sample has been collected from the Bloomberg of all FinTech and non-FinTech companies from the USA. The final sample comprises 1,712 company-year observations over the investigation period 2010–2019. The methodology entails ordinary least squares regressions and generalized panel methods of moments (GMM). Findings: The results suggest that the developed sustainability index is a valid proxy for sustainability measures and directly relates to stock performance. Besides, the evidence indicates that non-FinTech companies display superior sustainability and stock performance compared to FinTech companies. The present results corroborate with stakeholder theory, which implies that quality sustainability performance will alleviate the agency issue and safeguard the shareholders' interest. Research limitations/implications: Despite the fact that it presents the limitation of not considering other dimensions of financial performance, this research is important as it highlights the sustainability practices by the FinTech and non-FinTech companies, offering insights to researchers, policymakers, regulators, financial reports users, investors, environmental union, employees, clients and society. Originality/value: This paper is novel because it is unique in evaluating the sustainability practices in FinTech and non-FinTech firms. [ABSTRACT FROM AUTHOR]

Purpose: Adding to competitive dynamics and sustainability literature, this paper aims to examine the implementation of environmental protection and sustainability initiatives within the European fast-fashion clothing industry from the perspectives of Generation X and Y consumers. The study primarily investigates whether consumers' level of environmental consciousness impacts their purchase decisions and consumption behaviour and the consequent strategic competitiveness effects on businesses. Design/methodology/approach: The methodological approach relied on multiple data collection methods. In the first stage of the study, the researchers analysed the content of the official websites of two of Europe's leading fashion firms. In the second stage, a quantitative research approach was aimed at revealing the perceptions, attitudes and purchase behaviour of Generation X and Y consumers towards the two fashion houses and their brands. Findings: Although European fashion manufacturers invest in sustainability and engage in environmental protection, their marketing efforts need to be more effectively managed and targeted towards their target consumer markets. The level of engagement and sensitivity of each generational group towards sustainability issues varies. Each group's environmental consciousness, motivation and response is shaped by distinct characteristics, which, in turn, create implications for the effectiveness of sustainability efforts towards differentiation and competitiveness. Overall, consumers engage in environmental initiatives but ignore the corporate initiatives pursued by the two fashion firms and did not view them as sustainable brands. Originality/value: The study explores the effectiveness of sustainability and environmental protection orientation as business competitive strategies in the light of environmental turbulence and social changes impacting the fast-fashion clothing industry and its relationships with its consumer markets. [ABSTRACT FROM AUTHOR]

Purpose The paper aims to incorporate the relationship of reverse logistics into the economic, environmental, and social sustainability, known as triple bottom line and developed a framework for reverse logistics performance evaluation.Design/methodology/approach The performance measures, based on triple bottom line approach, were selected, and fuzzy analytical hierarchy process and extent analysis approach was applied for estimating the weights, global weights of performance measures and hence, the reverse logistics performance index. Reverse logistics performance of three electronic companies were evaluated and compared for the demonstration of the methodology.Findings The results show that economic performance has highest performance index followed by environmental performance and social performance. “Recapturing value” and “return on investment” from economic, “minimum energy consumption” and “optimum use of raw material” from environmental and “community complaints” and “customer health and safety” from social perspective have higher performance indexes. Over all, “reduced packaging”, “use of recycled material” and “employee benefits” show very poor performance indexes.Research Limitations/implications The study will provide useful guidance to the academicians and practitioners for evaluating, improving and benchmarking the reverse logistics performance.Originality/value The analysis adds to the very few studies on triple bottom line aspects of reverse logistics and its performance evaluation. Also, fuzzy analytical hierarchy process and extent analysis is used first time being an efficient tool to tackle the fuzziness of the data involved in performance evaluation. [ABSTRACT FROM AUTHOR]

Purpose This paper aims to discuss some of the findings of an ongoing “Green & Smart Furniture” (GSF) research project. It actually focuses on third-age consumers’ behavior and interest in purchasing smart and eco-friendly wooden furniture, providing some critical implications for the successful design and production of GSF products in the framework of innovation and differentiation.Design/methodology/approach The methodology is based on empirical data gathered from consumer research across Greece. The target group for “smart and eco furniture”, under the context of the present research, has to do with the third age, following the claims of many researchers that market orientation is essential for innovation success.Findings The present research promotes the development of innovation for furniture manufacturing industries, opening a new pathway in confronting the difficulties and strong competition. Firms should redesign their strategy, focusing on differentiation by including innovative products in their portfolio with high added value.Originality/value The present research is a prototype for the Greek and European furniture market, one designed to answer certain relevant questions regarding the drivers of innovation for the specific sector and the specific target group. [ABSTRACT FROM AUTHOR]

Purpose: A multispecialty hospital possesses sustainable competitive advantage if it continuously improves performance, repeatedly delivers quality service and unique value to the patients and the sources of competitive advantage are valuable, rare, inimitable, non-substitutable or causally ambiguous. The term sustainable competitive advantage is vague and ambiguous and the environment in which hospitals operate is dynamic, turbulent and disruptive. Therefore, sources of competitive advantage must change and evolve with time. This paper aims to explore the themes of competitive advantage in a dynamic environment for multispecialty hospitals in India by studying data from secondary sources for five hospitals. Design/methodology/approach: The findings of the case study were based on the analysis of secondary data that are extracted from the official websites of the hospitals, with the grounded theory approach. Findings: Five identified themes are as follows: changing and adapting; clinical excellence; creating unique value; managing unpredictable circumstances and patient-centric approach. All the themes supported hospital performance, service and value delivered to patients and therefore may help in building a competitive advantage of the hospital. However, sustainability factors were inconsistent across the themes. Practical implications: The CXOs and CMOs of hospitals can review the themes periodically and re-align the business strategies to build a sustainable competitive advantage. Originality/value: The findings of the study uncovered the criticality of re-alignment of resources deployed in the unpredictable and ever-changing environment in which hospitals thrive to build sustainable competitive advantage. [ABSTRACT FROM AUTHOR]

Purpose: This study has incorporated competitiveness by considering it a significant factor behind determining as well as moderating industrial value added in the environmental Kuznets curve (EKC) framework. This study aims to explore the moderating role of competitiveness policy in EKC with an aim to promote business led sustainability at national level. Design/methodology/approach: Considering the environmental deterioration aspect of industrialization, this study tests the existence of EKC for SAARC countries using the data from 1996 to 2021 using second-generation static panel data model. Findings: Estimated results have validated that moderating effect is responsible for improving environmental sustainability in SAARC countries. Furthermore, population density is responsible for increasing while trade openness is responsible for decreasing carbon emissions. Originality/value: Higher industrial activities are a symbol of upward-moving economic growth. But its other impact is in the form of environmental deterioration. However, the relationship between industrialization and environmental quality can be identified through EKC. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this study is to investigate the adoption of cloud computing as a digital technology by small and medium enterprises (SMEs) and assess its impact on sustainability of such enterprises. Design/methodology/approach: A model was developed that featured factors influencing SMEs sustainability. Primary quantitative data was gathered using a survey as an instrument. Total set of n = 387 responses were gathered using a convenience sampling method. Findings: Findings reveal that cost reduction, ease of use, reliability and sharing and collaboration factors have significant statistical impacts on SMEs sustainability, whereas privacy and security factor has no significant statistical on SMEs sustainability. Practical implications: The study poses significant implications on managers and SME development authority to create an inductive environment for technological support for SMEs' sustainability. Originality/value: The study enhances SMEs' performance and sustainability by upgrading their existing information and communications technology as a digital infrastructure and benefiting from novel IT-based cloud revolution. Several studies have provided an understanding of the use of cloud computing services in SMEs but lack enough information about the challenges and impact on SMEs sustainability. [ABSTRACT FROM AUTHOR]

Purpose – The purpose of this article is to provide techniques for distinguishing and analyzing privileges. With privileges revealed and categorized, the article provides an analysis of the impact different kinds of privileges have on free markets, equality-under-the-law, and environmental sustainability. From this analysis arise recommendations for public policy aimed at improving efficiency and equality-of-opportunity in markets while encouraging more environmentally sustainable corporate behavior. Design/methodology/approach – The article calls upon a technique from sociology ("unpacking a knapsack") to begin this exploration of privilege. It then uses the Harris-Twomey typology to categorize various kinds of privilege and analyze their impact on free markets, equality-under-the-law, and sustainability. The article uses examples to illustrate the importance of understanding the impact of privileges in developing effective public policy. Findings – It is difficult to distinguish otherwise "invisible" privileges; having methods for identifying and categorizing privileges make them more visible. Second, the illustrative examples and accompanying analysis suggest that reducing the number of privileges granted by the state, especially those that are economically inefficient, will improve performance and equity across an economy. Where privileges are necessary for efficient resource use or market development, the state would improve efficiency and equality by charging fees equal to the opportunity costs borne by others or the cost imposed on others by the privilege-holder. Practical implications – Using the techniques of analysis and following guidelines for public policies consistent with the principles explored here would be likely to improve access to and efficiency of free markets (making them more "free"), create a more level playing field (greater equality under the law) and diminish the negative environmental impacts of corporate activity by changing the incentive systems that currently encourage monopolistic tendencies in markets, concentration of power, and transference of environmental costs from corporations to the public. Originality/value – This paper combines analytic techniques from Sociology, Economics, and Management to gain a fresh perspective on the existence and impact of privileges on markets, society, and the environment. This fresh perspective reconciles tensions between equality and efficiency and provides guidelines for effective public policies. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this study is twofold. The first is to examine the impact of environmental disclosure on banks' performance, while the second is to investigate the moderating role of a country's economic activities and institutional quality on the relationship between environmental activities disclosure and banks' operational, financial and market performance. Design/methodology/approach: The sample includes 246 banks from emerging markets from 2008 to 2020, comprising 1,899 bank-year observations. The independent regressors are environmental disclosure, two moderators and two sets of control (bank and country) variables. The dependent variables are return on assets, return on equity and Tobin's Q. This study adopts ordinary least squares, panel fixed effect and instrumental variables generalized method of moments to estimate the parameters of the models. Findings: This study reveals a negative relationship between environmental disclosure and bank performance, lending credence to the agency and neoclassical theories. The moderator regressors show positive influence on banks performance. The results indicate that it is difficult to make a business case for environmental commitment. Practical implications: There is a need for effective monitoring by shareholders to ensure that funds allocated for environmental activities are spent wisely. Originality/value: This study provides new evidence on the ways in which economic and institutional quality influence the environmental practices of banks in emerging and frontier markets. [ABSTRACT FROM AUTHOR]

Purpose: Adopting sustainable practices is highly required in hotels. This study aims to assess consumer behaviour towards adopting sustainable practices in hotels. In addition, mediating role of consumer attitude (CAtt) is assessed between consumer awareness (CA) and willingness to pay. Design/methodology/approach: An empirical study was carried out to analyse the integrative research model of CA, CAtt and willingness to pay premium price (WTPPP) for sustainable practices adoption in five-star hotels in emerging economies. Responses from 447 respondents were collected and analysed. Structural equation modelling was performed using SPSS 21.0. Findings: The research outcomes indicate the partial mediation of CAtt between CA and WTPPP. Furthermore, consumer satisfaction has been found to have a moderating effect on the relationship between CAtt and willingness to pay a premium price. Originality/value: The research results add to the literature by analysing prominent factors affecting willingness to pay premium for adopting sustainable practices in five-star hotels. [ABSTRACT FROM AUTHOR]

Purpose – There is a global convergence on issues pertaining to sustainability, such as water sharing, energy security and waste management. Symbiosis focus the need to secure an enduring relationship satisfying the quality of life need for novelty aspirations of the customers and stakeholders. This is addressed as sustainable differentiation. This study aims: to understand the need to develop the symbiosis of sustainable development and sustainable differentiation, to analyze the research framework of sustainability symbiosis though the underlying attributes of: need to develop, need to innovate and need to differentiate. Design/methodology/approach – The research design conceptualizes sustainable development as a process or evolution where firms may be symbiotically configured on the attributes of sustainability, development and differentiation. The logit analysis methodology addresses competitiveness coupled with environmentally benign technology to sustain the customers' preference for products and services that satisfy their quality of life needs. The approach is to estimate the symbiotic index of a local, regional or globally scalable habitat. The competitiveness coupled with environmentally benign technology can be sustained when the customers' preference for products and services satisfies their quality of life needs. Findings – The output indicates the significance (0.037 at 95 percent confidence level) of the constant term representing “quality of life need for novelty” justifying symbiotic linkage of sustainability, development and differentiation. There is goodness of fit (α 0.5617, Wald statistic 0.093) to establish the significance of the three variables of GDP (representing intensity of eco-efficient technology), population (standing for intensity of competitiveness) and sustaining empathy (in response to climate change). Their statistical significance indicates the propensity to differentiation given sustainable development would substantively improve the overall construct. Research limitations/implications – There is need for further research with primary data. The assumption that sustainable differentiation may become an indicator variable that may assume binary form needs thorough justification. The key implication is that differentiation creates grassroots distinctiveness to development that transforms sustainability into opportunity. This cost to benefit gap is bridged through the symbiotic chain of sustainability, development and differentiation. Originality/value – This sustainable differentiation metric harnesses a dormant, yet fundamental key to the success of sustainable development, the emotive linkage. This explanatory variable adds robustness to sustainable development models by way of etching a long-term memory trace for the sustainability practices of the organization as well as innovation efforts to differentiate long term providing an essence of competitiveness. [ABSTRACT FROM AUTHOR]