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    Investigating the quality and drivers of sustainability reporting in the electricity industry : a global context : a thesis submitted in partial fulfilment of the requirements for the degree of Doctor of Philosophy in Accounting at Massey University, Albany, New Zealand
    (Massey University, 2024-11-07) Marasigan, Alva
    This research investigates the quality and determinants of sustainability reporting in the electricity industry, in particular the electricity generation sector. Electricity is a major driver of economic development and a major influence on climate change, hence an interesting setting for this study. Understanding the trends and determinants relating to the quality of sustainability reporting (QSR) may contribute to improved QSR and consequential improvements in transparency, accountability, and value creation. Part 1 of this study is qualitative and investigates the QSR of 100 electricity generators included in the S&P Platts Top 250 Global Energy Companies Rankings for 2021. The assessment of QSR is based on the qualitative characteristics of reporting, namely relevance (including materiality) and reliability. Content analysis of sustainability disclosures during 2018-2020 suggests the QSR of sample companies is relatively high and improving over time. Companies in countries with mandatory sustainability reporting regimes generally tend to achieve higher QSR. Part 2 of this study is quantitative and concerns testing selected determinants of QSR through regression analyses. Findings suggest that sustainability performance, use of the Global Reporting Initiative framework, and institutional shareholding have significant positive impacts on all QSR measures, while foreign shareholding has the same effect on relevance and overall QSR (contemporaneous as well as one-year lagged effects). Rule of law and carbon pricing policy have significant negative effects on relevance (contemporaneous as well as one-year lagged effects) while gender diversity shows the same effect on reliability (one-year lagged effect only). Rule of law also has a significant negative influence on overall QSR but only when testing for one-year lagged effects. Robustness and additional tests support these results. This study extends the existing literature on sustainability reporting by providing a holistic longitudinal, global, as well as an environmental, social, and economic perspective on QSR in the electricity industry. It also covers a wider range of QSR determinants than most others and improves on the precision of QSR measurement. This study may be useful to regulators and standard setters in their efforts to harmonise sustainability reporting and provides useful insights to decision makers and practitioners on the need to link sustainability disclosures to sustainability performance, as well as stakeholder activities, assurance considerations, and materiality.
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    Labour market friction effect on corporate performance : evidence in the global market : a dissertation submitted in fulfilment of the requirements for the degree of Doctor of Philosophy in Finance at Massey University, School of Economics and Finance, Massey University
    (Massey University, 2023-08-31) Bai, Hengyu
    This thesis represents the first academic endeavour to investigate the impact of labour market friction on corporate performance in a global context. In traditional neoclassical economic theory and relevant research, human capital was considered merely an input to generate economic value. Unemployed workers were assumed to fill vacant job positions perfectly, similar to interchangeable machine parts. However, as understanding has evolved, economists now recognise the complexities of filling a job vacancy, which needs to take into account the skills, geographic locations, labour preferences, and various objective factors of the labour force. Consequently, a mismatch often occurs between unemployed workers and vacant jobs, resulting in simultaneous unemployment and job vacancies. This phenomenon is termed labour market friction. This thesis comprises three subprojects, each contributing a distinct essay. The first essay examines the effect of labour market friction on expected stock returns in the Chinese stock market. Utilising the portfolio sorting approach and the Fama-MacBeth regression model, the findings indicate that firms with higher labour friction risk are likely to experience higher stock returns in the subsequent month. This suggests that labour friction risk serves as a significant risk factor in asset pricing. Additionally, the study reveals that the positive effect of labour friction on expected stock returns is more pronounced in firms with either high productivity or poor employee welfare. Furthermore, firms in regions with high levels of development are more likely affected by the labour friction risk. The second essay expands the scope from the Chinese stock market to global stock markets, including North America, Asia-Pacific, and Europe. The results reveal regional variations in the impact of labour market friction on expected stock returns. Specifically, labour friction risk has a negative association with expected stock returns in North American markets, whereas it is positively correlated in Asia-Pacific markets. The significant labour market friction effects are pronounced in different industries due to the varieties of labour market structures, where the North American markets contain a large partial of high technology companies, while the Asia-Pacific markets are dominated by numerous industrial companies. There is no significant relationship between labour friction risk and expected stock returns in European markets. The study also finds that the effect of labour friction is particularly pronounced in markets that are non-immigrant or non-English-speaking, providing higher external labour supply and mobility in such markets, which reduces firms’ recruitment pressures. The third essay centres on Corporate Social Responsibility (CSR) behaviours under the influence of labour market friction in a global setting. The results suggest that firms facing higher labour friction risks are more inclined to engage in CSR activities, even when controlling for year, industry, and region effects in the regression model. This CSR engagement is notably more prominent in markets with a higher demand for labour, characterised by a higher number of new businesses and job vacancies. These findings remain consistent across markets that encourage business creation and expansion through strong investor protection and low labour taxation policies. Markets with higher levels of advanced education have a more significant labour market friction effect on CSR decision-making as they have numerous labour-intensive firms which require a large labour force. Additionally, when labour unions have the strong bargaining power to protect the welfare of employees, firms are less inclined to conduct CSR activities due to the less function in controlling the labour market friction risk. In summary, this thesis contributes to the existing literature by providing empirical evidence of the effects of labour market friction on corporate performance and behaviours across different global markets. It demonstrates that the impact of labour market friction varies due to differing labour market policies and structures and is significantly influenced by the dynamics of labour supply and demand. The insights derived from examining labour market friction across diverse markets have critical implications for both corporate managers and policymakers seeking to mitigate the associated risks.
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    Corporate social responsibility in small and medium enterprises in Vietnam : doing good to do well : a thesis presented in partial fulfilment of the requirement for the degree of Doctor of Philosophy in Management at Massey University, New Zealand
    (Massey University, 2021) Nguyen, Minh
    Corporate social responsibility (CSR) has received growing attention over recent years. However, scant attention has been paid to investigating the implementation of CSR from the perspective of small and medium enterprises (SMEs) in a developing country context. Along with the focus on developed countries, existing research underpinned by the institutional theory has mainly focused on macro-institutional determinants and cross-national variations in CSR practices. Despite the pivotal role of SME owner-managers, there is a lack of understanding on the underlying mechanisms by which institutional structure and owner-managers’ agency interact to influence the construction of CSR in different contexts. This thesis aims to theoretically and empirically understand CSR in SMEs in developing countries. Accordingly, the study seeks to answer the question: “How do Vietnamese SMEs engage in CSR practices?”. Vietnam was selected as a novel context for CSR due to its distinctive history and cultural admixture, the prominent role of the state in the country, and its recent integration into the global economy. In Vietnam, there is not only a mixture of Western and Eastern philosophies and practices but also a blend of capitalist and socialist values in play. The rich and complex social and cultural aspects of Vietnam along with its contemporary transitional economy highlight research opportunities to explore CSR practices in their distinctive and special milieu. Following a qualitative methodology aligned to the interpretive paradigm, this study employed a case study method and undertook 21 interviews drawing on 17 owner-managers from 13 organisations together with four key informants. In addition, supporting data were also collected via observations, field notes, and documents for data triangulation. The collected data was then manually analysed using the thematic analysis method. A conceptual framework using constructs of Bourdieu’s theory of social practice guided the data analysis. This framework allowed multiple levels of analysis, specifically in understanding the interaction between the agency of SME owner-managers and institutional variables that contribute to the development of CSR among SMEs. The thesis contains two empirical findings chapters. The first chapter explores CSR initiatives that SMEs in Vietnam are adopting and identifies the institutional influences that contribute to the development of CSR practices. The second chapter investigates the role that owner-managers play in shaping CSR practices among SMEs. The empirical findings reveal that there is evidence of a significant degree of divergence in terms of CSR practices among SMEs within the same institutional structure. These varied CSR expressions can be explained in light of the ambiguous institutional environment in which SMEs are embedded which is composed of factors, namely tradition, political governance, and modernity. These interconnected and competing institutional structures then provide scope for owner-managers, as primary decision-makers, to exercise their agency in shaping CSR. Through the theoretical lens of Bourdieu’s theory of practice, this study demonstrates the mechanisms by which owner-managers utilise their own agent capability, stemming from individual preference, perceptions, and ways of thinking, in response to the institutional influences of CSR. By acknowledging the interactions between structure and agency, this research contributes to a coherent body of knowledge related to the complex construction of CSR in SMEs in developing countries and adds to the body of recent studies which try to understand how individuals navigate competing institutional demands.
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    An examination of CSR decoupling in Pakistan : a research journey through tight and loosely coupled environments : a thesis presented in partial fulfilment of the requirements for the degree of Doctor of Philosophy, School of Management, Massey University, Manawatu, New Zealand
    (Massey University, 2020) Khan, Majid
    The literature on CSR has been debated among organisational scholars not only for its benefit to society and the environment but also its positive influence on business and organisations. Research suggests that strong government, markets and civil society are also necessary conditions for businesses to behave in a socially responsible way. However, due to its focus on developed economies limited contextual knowledge has emerged, especially that from developing countries. Within this latter context there is a lack of understanding of how businesses use reporting to create an impression of social responsibility while masking their actual performance, suspected to be the result of a weak institutional environment. By drawing on (neo)-institutional theory this research addresses this theoretical gap, demonstrating that CSR policies and practices are shaped by their embeddedness in the prevailing institutional environment. More specifically, this research explores questions related to CSR reporting, practice, and the decoupling between CSR rhetoric and actual performance in Pakistan. The research design comprised a multi-methodological approach using data quadrangulation. First, quantitative content analysis of 29 listed companies was conducted, drawing longitudinal data from publicly listed annual reports (2001, 2006, 2011 & 2017 – five-yearly intervals) to understand the extent of CSR reporting in Pakistan. Second, in-depth semi-structured interviews were conducted with 23 respondents comprising of CSR/sustainability managers, national regulators, and members of CSR promoting institutions in the country. Third, the originality of reports was examined using TurnitinTM and TinEyeTM. Finally, a discourse analysis of text and related images in reports was conducted to describe, interpret and explain contextualised meanings of language used. The results show that CSR, as perceived by many stakeholders actually has limited understanding and currently few benefits in Pakistan. The drivers identified for CSR policies and practices were found to be significantly different from that studied in the developed world. Additionally, unique instances of widespread decoupling are highlighted in the form of the lack of originality in texts, and the use of digitally manipulated images in CSR reports, thereby, suggesting that such behaviour is deliberate. The research makes important theoretical and methodological contributions to the nexus of business and society in a developing country, especially one suffering from a weak institutional environment.
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    The development of environmental management systems and corporate responsibility reporting in NZ, UK and USA : a thesis presented in partial fulfilment of the requirements for the degree of Master of Environmental Management at Massey University, New Zealand
    (Massey University, 2017) Martinez, Lucy
    L. C. Martinez. The Development of Environmental Management Systems and Corporate Responsibility Reporting in NZ, UK and USA, 121 pages, 2 figures, 2017. The study reviews the initiation and development of environmental management systems (EMSs) and how EMS and corporate responsibility (CR) reporting developed over time in New Zealand, the United Kingdom (UK) and the United States of America (USA). Comparing the three countries provides New Zealand with a global perspective to identify if northern hemisphere countries have better systems. The study has two aims: 1. To compare and contrast the initiation and development of EMSs and CR reporting in New Zealand, the UK and the USA; and 2. To suggest strategies New Zealand’s government and businesses could use to improve EMS and CR reporting systems, and thereby strengthen the country’s business environmental performance. The scope of the thesis is the urban corporate and manufacturing sectors; the timeframe is from the mid-twentieth century to the present. Scholarly journal and media articles, industry publications and reference books used for the research were accessed via the ProQuest database, Massey University online library, the New York Public Library and Google. Results show that there has not been a clear and consistent pattern of EMS development in each study country, but each country has been a leader and innovator at different stages. An initial scan suggested that New Zealand has lower ISO 14001 certification numbers and CR reporting rates than the UK and USA. When examined more closely, results show that New Zealand’s ISO 14001 certification intensity (rather than raw numbers) is actually higher than the USA, although New Zealand and the USA both lag behind the UK. Results also show that CR reporting is now completely mainstream business practice worldwide. Despite this, New Zealand’s CR reporting is limited; unlike the other two study countries, this form of reporting is not legislated. Conclusions were that economic instruments in the UK and USA are shown to be an effective way to incentivise clean business practices and increase EMS uptake. Multinational companies increasingly scrutinize suppliers’ environmental credentials, which will impact New Zealand’s SMEs more into the future. ISO 14001 is a necessary universal tool to remain relevant in today’s global economy, which may incentivise higher uptake among New Zealand’s export businesses. It was recommended that New Zealand’s government form a legislative requirement for CR reporting, and firms should be encouraged to look to organizations such as the NZ Sustainable Business Council, the Global Reporting Initiative and the International Integrated Reporting Council for guidance on CR reporting.
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    Optimising community development through corporate social responsibility : an examination of the tourism industry in Livingstone, Zambia : a thesis presented in fulfilment of the requirements for the degree of Doctor of Philosophy in International Development Studies at Massey University, Manawatu, New Zealand
    (Massey University, 2016) Chilufya, Andrew K
    This thesis explores the potential for corporate social responsibility (CSR) practices of hotel and lodge companies to contribute to community development. A critical review of relevant literature is followed by focused discussions of the CSR practices of these companies, their community engagement approaches for seeking community voices in CSR, and policy frameworks for promoting CSR and managing stakeholder relationships. The empirical domain is the practices of hotel and lodge companies on Mukuni community land in Livingstone, Zambia. The discussion in each of the main empirical chapters is based on the analysis of perspectives and experiences of participants. Primary data was collected by conducting document and website reviews, and interviews with senior government officials, hotel and lodge managers, the local tourism association, leaders of relevant local and international NGOs, and leaders from Mukuni communities. Data was also collected through group interviews, network mapping, and pairwise ranking and comparison analyses with community farmers and crafts traders. Site observation of some CSR projects in communities was also undertaken. Thematic analysis was applied to code and analyse data. A theoretical framework focusing on “ensuring equity in CSR through multi-stakeholder measures” was developed and applied to understand the findings. Study findings suggest that power relations are a critical issue in CSR when initiatives are carried out in poor communities. It is shown that dominant corporate power and traditional power and cultural influences of community leaders, coupled with weak policy frameworks for promoting CSR and managing stakeholder interactions, are the main factors that determine the effectiveness of CSR as a vehicle for community development. These findings show that although criticisms are justifiably targeted mainly at corporations, communities and government also fall short in a number of ways as parties in promoting CSR. In view of these findings, key stakeholders, including government, hotels and lodges and communities, are challenged to adapt their respective policies, structures, mentalities and practices to ensure equity in CSR. The study has shown that multi-stakeholder involvement in CSR can encourage equity and might be helpful in shifting CSR from reflecting company interests alone to interests and needs of communities. This argument is based on evidence that in some cases, measures that seek to encourage multi-stakeholder involvement in CSR have proved to contribute to promoting equity and to widely spreading opportunities and benefits. It has also been shown that the role of government and other stakeholders is important for improving the overall effectiveness of CSR as a vehicle for community development.
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    The environmental ethics of the corporatization of agriculture and crop genetic engineering : a thesis presented in partial fulfilment of the requirements for the degree of Master of Environmental Management at Massey University, Palmerston North, New Zealand
    (Massey University, 2017) Walker, Anna
    The corporatization of agriculture has resulted in significant implications for the environment and consequently environmental management. In particular, corporate application of genetic engineering (GE) has resulted in increased and unnecessary environmental risks through inappropriate applications of GE and increased pesticide use. GE technology has in turn allowed for the agriculture industry to become further corporatized. Current environmental management procedures with regard to risk assessment and the regulatory processes of GE crops have proven inadequate in light of such corporate involvement. The research aim of this thesis was to establish whether the corporatization of agriculture, and the consequent corporate application of GE crops, results in breaches of environmental ethics, as defined by the worldviews of biocentrism and ecocentrism. This aim was achieved through the application of a structured literature review, using an interpretive approach within the paradigm of hermeneutics. The literature analysis was carried out on peer-reviewed journal articles from the last 10 year period, within which selected articles were asked a series of interview questions in order to fulfil the research objectives, and consequently the aim. The extracted information was critically considered within the framework of environmental ethics and the contrasting worldviews of anthropocentrism, technocentrism, biocentrism and ecocentrism. The key issue identified was the lack of consideration of biocentric and ecocentric values in the arguments made by corporations and proponents of GE crops as a result of a dominance of anthropocentric and technocentric worldviews. The lack of such values on the part of corporations ensures that both sides of the debate are arguing from different perspectives and as such it seems unlikely that they will ever be able to reach a resolution. This thesis concludes that for progress to be made in the debate on GE agriculture and corporatization, and for appropriate precaution to be employed with regard to risk assessment, the worldview held by agrochemical corporations and proponents of GE needs to shift towards a biocentric and ecocentric understanding of the environment. However, as a complete shift of worldviews on the part of corporations is unlikely, this thesis recommends that attention be shifted away from the polarized controversy in favour of a discussion on coexistence.
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    Collaborating to develop : a perspective on current Chinese social partnership development : a thesis presented in partial fulfilment of the requirements for the degree of Doctor of Philosophy in Marketing at Massey University, Albany, New Zealand
    (Massey University, 2016) Dong, Hua
    In recent years there has been a significant increase in the number of social partnership practices among businesses that are designed to carry out corporate social responsibility. As one of the fastest growing economic regions, domestic Chinese business practitioners have begun to adapt their approach, in order to handle increased concerns about their business conduct from relevant stakeholders. Under the influence of a globalised trading environment, Chinese practitioners have started to experiment with different approaches to deliver highly regarded corporate social responsibility and consequently social partnerships have begun to gain popularity among local firms due to their mutually beneficial features. This research studies the increasingly popular social partnership (SP) between businesses (focal firms) and non-profit organisations (NPO) in a Chinese context. The study examines the selected social partnerships from mainland China and analyses them under the lenses of corporate social responsibility (CSR) theories in conjunction with cross-sector partnership research. The objective of this study was to explore and identify the performance attributes that impact social partnership conduct in the Chinese business practice context, and therefore, progress CSR theory development in Chinese context. It is essential to have an extensive understanding of the extent of collaboration in general in order to conduct effective social partnerships, and based on the findings from six selected focal firms and their associated SPs, the following points have been deduced. Specifically, both the focal firm and NPO need to share similar values prior to the formation of the partnership. Then, organisations need to have fair expectations about the achievements throughout the conduct, which could be improved by setting up realistic partnership objectives in a mutually agreed fashion. For the focal firm, strategic integration of SP facilitates improvements with interactions with the NPO partner, but would also enhance the productivity of the SP accordingly, due to a greater level of engagement during the value creation process. The three themes which emerge from this study provide the framework for further studies. These themes focus on the satisfaction of partnership, co-creation of value, and sustainability of partnership.
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    Impact management and social performance in the petrochemical industry in Taranaki : a thesis presented in partial fulfilment of the requirements for the degree of Master of Philosophy in Development Studies at Massey University
    (Massey University, 2000) Whyte, Mandy
    This thesis addresses the practices of the petrochemical industry, in particular exploration and production companies (E& P), in interacting with operations-affected community stakeholders. It does so by reviewing the range of methodologies common to the industry, and by surveying companies active in the Taranaki region of New Zealand. It seeks to answer the question: how can exploration companies minimise their social impacts and conflict with operations-affected communities, and the associated costs, in a mutually acceptable and sustainable way? The thesis challenges the practice of addressing community concerns with, what the author has identified as, a public relations approach, the primary and underlying purpose of which is, it is argued, to further the economic interests of business. It maintains that practices arising from a public relations approach are both socially inappropriate and commercially ineffective when applied to communities who are negatively affected by companies with which they are obliged to share the same social and physical environment. Instead the thesis supports a community development approach to interactions between the petrochemical industry and community stakeholders. This approach emanates from a philosophical framework that espouses human rights and the integration of social, environmental and economic development as an enduring function of commercial enterprise. It is posited that effective management of the dynamics of opposing interests will not be achieved through companies deploying 'nice people' to negotiate with disaffected, disparate and disempowered groups, but through the use of qualified social practitioners and the community development tools of social assessment, participation and empowerment to create mutuality beneficial outcomes.
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    A business taking the social initiative : the Carter Holt Harvey Tasman case : a thesis submitted in partial fulfilment of the requirements for the degree of Master of Management, Massey University
    (Massey University, 2005) Ashby, Mary
    This thesis explores the workplace of a sustainable award-winning company in a small New Zealand town. Its special focus is on investigating how employees perceive the firm's exercising of social responsibility in relation to its various communities and, in particular, its support of social initiatives. Qualitative methods were used and multiple sources of evidence drawn on, in order to allow a broad range of historical, attitudinal and behavioural issues to be analysed in this single case study. The results demonstrated that employees tended not to view their employer's social initiatives in isolation, but to adopt a much broader focus that took into account other aspects of organisational life. Consequently, some employees were critical of the extent of support given the external community, while others (particularly those involved in social initiatives) saw room for expansion of the firm's support. Key factors found to be influencing the way in which employees' perceived the firm's support of social initiatives were the employer's workplace performance, the strong family-oriented workplace culture, and individuals' concerns for the local community. Business outcomes perceived to arise from employees' involvement in the firm's environmental and community initiatives included more satisfied and professionally-skilled employees with a higher personal profile, and a significantly enhanced reputation for the firm. The employer was thought to be mostly concerned with the latter outcome, and to be largely unaware of the potential for human resource benefits to simultaneously be accrued as employees engaged in social initiatives. Areas identified for future research include how the skills and attributes acquired during the participation experience may impact on individual performance and affect team productivity; how employee forums established to promote management-employee collaboration on social initiatives may contribute towards the simultaneous development of more trusting and fruitful relationships, and improved interpersonal skills; and how both the separation and sharing of social and cultural values may influence the evolution of business-community relationships, and the nature of social initiatives supported by firms as they interact with their local communities.