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Rahi, A. F., Johansson, J. & Lions, C. (2024). Reinventing the wheel? Factors influencing relationship: links between sustainability and financial performance. European evidence. International Journal of Accounting and Information Management, 32(1), 147-177
Open this publication in new window or tab >>Reinventing the wheel? Factors influencing relationship: links between sustainability and financial performance. European evidence
2024 (English)In: International Journal of Accounting and Information Management, ISSN 1834-7649, E-ISSN 1758-9037, Vol. 32, no 1, p. 147-177Article in journal (Refereed) Published
Abstract [en]

Purpose: This study aims to examine the factors that influence the relationship between sustainability and financial performance (FP) of the European listed companies.Design/methodology/approachThis study analyzed data from 795 companies in 21 European countries by applying linear mixed-effects multilevel regressions, a two steps system generalized method of moments and quantile regression models to uncover the links between sustainability and FP.

Findings: The past four decades have witnessed abundant research to determine the relationship between corporate sustainability and FP. Thus, conducting further research in 2023 could be seen as “reinventing the wheel.” Yet, earlier research considered firms as isolated entities with sustainability and FP being dependent only on that firm’s actions. By contrast, with the help of network governance theory, this study shows that a firm’s sustainability and FP depend on an interplay among interorganizational actors, such as institutional qualities, macroeconomic factors and an embrace of sustainability. Here, large firms play an essential role. Three significant findings are drawn. First, sustainability performance has a significant impact on FP in the European context. Second, the institutional quality (IQ) of the rule of law and control of corruption plays a crucial role in enhancing sustainability and FP, and finally the interaction of IQ and economic growth helps to increase companies’ market value (Tobin’s Q). The consistent and empirically robust findings offer key lessons to policymakers and practitioners on the interplay among multiple actors in corporate sustainability and FP.

Practical implications: A synergetic multifaced relationship between governmental institutions and corporations is inevitable for ensuring sustainable development. The degree of intimacy in the relationship, of course, will be determined by the macroeconomic environment.

Originality/value: In this research, this study theoretically and empirically identified that corporate sustainability and FP are not solely dependent on corporate operation. Rather, it is transformed, modified and shaped through an interaction of multiple actors’ trajectories in the macro business environment. © 2023, ABM Fazle Rahi, Jeaneth Johansson and Catherine Lions.

Place, publisher, year, edition, pages
Bingley: Emerald Group Publishing Limited, 2024
Keywords
Sustainability, Financial performance, Network governance theory, Institutional quality, Corporate responsibility
National Category
Business Administration
Identifiers
urn:nbn:se:hh:diva-52126 (URN)10.1108/ijaim-02-2023-0023 (DOI)001108351700001 ()2-s2.0-85178256297 (Scopus ID)
Available from: 2023-11-27 Created: 2023-11-27 Last updated: 2024-01-17Bibliographically approved
Rahi, A. F., Johansson, J., Blomkvist, M. & Hartwig, F. (2023). Corporate sustainability and financial performance: A hybrid literature review. Corporate Social Responsibility and Environmental Management
Open this publication in new window or tab >>Corporate sustainability and financial performance: A hybrid literature review
2023 (English)In: Corporate Social Responsibility and Environmental Management, ISSN 1535-3958, E-ISSN 1535-3966Article, review/survey (Refereed) Epub ahead of print
Abstract [en]

The discussion of “whether it pays to be green” is ongoing. This review does not intend to solve the debate, rather it soothes it by contributing to the concept of “when it pays to be green.” By focusing on the shortcomings of existing literature reviews on the topic of corporate sustainability and financial performance (CSFP) in this hybrid review, issues were identified that had been overlooked earlier. In general, CSFP holds a positive relationship but in a time lag. Nonconclusive results about the relationship within CSFP are due to self-selection bias, endogeneity issues, and the use of multiple datasets and industry categories. Surprisingly, we also discovered that the impact of sustainability on financial performance is elusive in capitalist countries considered to be economically rational. Institutional and legitimacy requirements are a good starting point for shaping corporate behaviors in the short term; however, they might not be equally appropriate in the long term in cases when corporations shift operations to pollution havens. A multifaceted, synergistic interaction between governmental institutions, corporations, and other stakeholders is required—without imposing authority—to ensure durable sustainable development. © 2023 The Authors. Corporate Social Responsibility and Environmental Management published by ERP Environment and John Wiley & Sons Ltd.

Place, publisher, year, edition, pages
Oxford: John Wiley & Sons, 2023
Keywords
bibliometric analysis, corporate performance, corporate responsibility, CSR, ESG, financial performance, literature review, stakeholder engagement, sustainability, sustainable development
National Category
Business Administration
Identifiers
urn:nbn:se:hh:diva-51638 (URN)10.1002/csr.2600 (DOI)001060666600001 ()2-s2.0-85169055193 (Scopus ID)
Available from: 2023-09-14 Created: 2023-09-14 Last updated: 2024-02-06Bibliographically approved
Dahlstrand, U., Gustafsson, P., Näsvall, P., Johansson, J., Gunnarsson, U. & Lindforss, U. (2023). Costs Related to Diverting Ileostomy After Rectal Cancer Surgery: A Population-Based Healthcare Cost Analysis Based on Nationwide Registers. Inquiry, 60, Article ID 00469580231212126.
Open this publication in new window or tab >>Costs Related to Diverting Ileostomy After Rectal Cancer Surgery: A Population-Based Healthcare Cost Analysis Based on Nationwide Registers
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2023 (English)In: Inquiry, ISSN 0046-9580, E-ISSN 1945-7243, Vol. 60, article id 00469580231212126Article in journal (Refereed) Published
Abstract [en]

Low anterior resection for rectal cancer often includes a diverting loop-ileostomy to avoid the severe consequences of anastomotic leakage. Reversal of the stoma is often delayed, which can incur health-care costs on different levels. The aim is to, on population basis, determine stoma-related costs, and to investigate habitual and socioeconomic factors associated to the level of cost. Multi-register design with data from the Swedish Rectal Cancer Registry, the National Prescribed Drug Register, Statistics Sweden and cost-administrative data from the National Board of Health and Welfare. Data was gathered for 3564 patients with rectal cancer surgery 2007 to 2013, for 3 years following the surgery. Factors influencing the cost of inpatient care and stoma-related consumables were assessed with linear regression analyses. All monthly costs were higher for females (consumables P <.001 and in-patient care P =.031). Post-secondary education (P =.003) and younger age (P =.020) was associated with a higher cost for consumables while suffering a surgical complication was associated with increased cost for inpatient care (P <.001). Patients who had their stoma longer had lower monthly costs (consumables P <.001 and in-patient care P <.001). Female gender, longer duration of stoma, young age, and higher education are associated with higher costs for the care of a diverting stoma after rectal cancer surgery. This study does not allow for analyses of causality but the results together with deepened analyses of underlying reasons form a proper basis for decisions in health care planning and allocation of resources. These findings may have implications on the debate of equal care for all. © The Author(s) 2023.

Place, publisher, year, edition, pages
Thousand Oaks, CA: Sage Publications, 2023
Keywords
cost analysis, defunctioning stoma, healthcare costs, ileostomy, inpatients, low anterior resection, rectal neoplasms, resource allocation, socioeconomic factors, stoma reversal
National Category
Health Care Service and Management, Health Policy and Services and Health Economy
Identifiers
urn:nbn:se:hh:diva-52361 (URN)10.1177/00469580231212126 (DOI)001130096200001 ()38105185 (PubMedID)2-s2.0-85180186050 (Scopus ID)
Funder
Swedish Research Council, 2021-00972Region Västerbotten, 979794Region Västerbotten, 978927Visare Norr, 930645Swedish Society of Medicine
Note

This work was supported by The Swedish Society of Medicine; Region Vaesterbotten [RV-979794 and RV-978927]; Vetenskapsradet/The Swedish Research Council [VR-2021-00972]; VISARE NORR Fund, Northern country councils Regional federation [930645].

Available from: 2024-01-10 Created: 2024-01-10 Last updated: 2024-01-10Bibliographically approved
Adams, K., Attah-Boakye, R., Yu, H., Johansson, J. & Njoya, E. T. (2023). Female board representation and coupled open innovation: Evidence from emerging market multinational enterprises. Technovation, 124, Article ID 102749.
Open this publication in new window or tab >>Female board representation and coupled open innovation: Evidence from emerging market multinational enterprises
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2023 (English)In: Technovation, ISSN 0166-4972, E-ISSN 1879-2383, Vol. 124, article id 102749Article in journal (Refereed) Published
Abstract [en]

Little research has been done on female board representation in emerging market multinational enterprises (EMNEs). Our paper considers the role of female board representation and its impact on open innovation (OI) in the unique context of emerging markets. We draw on upper echelons and institutional theories to understand how female board representation and cross-country institutional contexts influence coupled OI. Combining a 10-year (2009–2019) dataset with a rich in-depth content analysis of 183 (EMNEs) engaged in OI, our results reveal a significant positive association between female board representation and a firm's commitment to coupled OI initiatives. We also find that country-level institutional factors affect and positively moderate the relationship between female board representation and coupled OI. In emerging market environments where managerial perception and cultural beliefs sometimes hinder the promotion of females into top positions, our work has implications for EMNEs regarding how they harness diversity. We contribute to the OI literature by showing that female board representation enhances corporate OI investment within EMNEs. © 2023 The Authors

Place, publisher, year, edition, pages
Oxford: Elsevier, 2023
Keywords
Coupled open innovation (OI), Female board representation, Emerging market multinational enterprises (EMNEs), Institutional context
National Category
Business Administration
Identifiers
urn:nbn:se:hh:diva-51475 (URN)10.1016/j.technovation.2023.102749 (DOI)000974560600001 ()2-s2.0-85151273489 (Scopus ID)
Available from: 2023-08-21 Created: 2023-08-21 Last updated: 2023-11-17Bibliographically approved
Żukowicka-Surma, A., Holmén, M., Johansson, J. & Andersson, S. (2023). Healthcare ecosystems and business models reconfiguration: Decoupling and resilience in the context of data-driven technologies: A Systematic Literature Review (1ed.). In: Svetla T. Marinova; Marin A. Marinov (Ed.), Reconfiguration of Business Models and Ecosystems: Decoupling and Resilience (pp. 204-235). New York: Routledge
Open this publication in new window or tab >>Healthcare ecosystems and business models reconfiguration: Decoupling and resilience in the context of data-driven technologies: A Systematic Literature Review
2023 (English)In: Reconfiguration of Business Models and Ecosystems: Decoupling and Resilience / [ed] Svetla T. Marinova; Marin A. Marinov, New York: Routledge, 2023, 1, p. 204-235Chapter in book (Refereed)
Abstract [en]

This chapter researches the reconfiguration of business models and ecosystems in relation to decoupling and resilience in the context of data-driven technologies via conducting a systematic literature review (SLR). New data-driven technologies have been largely introduced to different sectors. Digitalisation may lead to disruptive changes in any industry, including creating or entering new business models, lowering or changing entry barriers into markets and enabling the breakup of sectorial silos. Although the COVID-19 pandemic accelerated significantly the digitalisation of the healthcare sector, innovation adoption in the sector proceeds slower than in most other industries. This chapter reviews systematically the existing literature on this area and develops a research agenda aiming at answering the pre-set research question: To address the research question, an SLR methodology has been applied to provide insights, critical reflections, managerial implications and research road maps for future research. The chapter identifies the potential benefits of the use of data-driven technology in healthcare at organisational, institutional, ethical and macro-level dimensions. It discusses the adoption of digitalisation and healthcare management practices to enhance data-driven outcomes. Based on the conducted literature review and the bibliometric analysis of articles included in the chapter, an integrative conceptual framework for digital healthcare is suggested. © 2023 selection and editorial matter, Svetla T. Marinova and Marin A. Marinov; individual chapters, the contributors

Place, publisher, year, edition, pages
New York: Routledge, 2023 Edition: 1
National Category
Production Engineering, Human Work Science and Ergonomics
Identifiers
urn:nbn:se:hh:diva-50020 (URN)2-s2.0-85147936678 (Scopus ID)978-1-032-35402-6 (ISBN)978-1-003-32673-1 (ISBN)
Available from: 2023-02-24 Created: 2023-02-24 Last updated: 2023-02-24Bibliographically approved
Hidefjäll, P., Laurell, H., Johansson, J. & Barlow, J. (2023). Institutional logics and the adoption and implementation of remote patient monitoring. Innovation: Management, Policy & Practice
Open this publication in new window or tab >>Institutional logics and the adoption and implementation of remote patient monitoring
2023 (English)In: Innovation: Management, Policy & Practice, ISSN 1447-9338, E-ISSN 2204-0226Article in journal (Refereed) Epub ahead of print
Abstract [en]

Remote patient monitoring (RPM) of chronic diseases represents a care modality with great potential to substantially improve outcomes and reduce hospital admission and costs to society. Empirical research has examined the processes of RPM adoption and implementation; however, implementation of RPM–a complex technological and health service innovation–remains challenging. Various analytical frameworks have tried to understand the conditions for successful adoption and implementation of RPM and other complex healthcare innovations. This conceptual study argues that incorporation of lessons from literature on institutional logics could enrich these frameworks. Healthcare is a domain influenced by multiple competing, collaborating or co-existing institutional logics such as professional, state, market, corporate and increasingly a community logic, expressed in patient-centred care principles. We outline the concept of patient-centred care as an emerging institutional logic and explore how to incorporate it into two widely used analytical frameworks, NASSS (‘non-adoption, abandonment, scale-up, spread, and sustainability’) and normalisation process theory (NPT). The main benefit of adding an institutional logics approach to the NPT framework is primarily to increase awareness of how institutional logics at meso-and macro-levels may affect the scope of implementation at a micro-level. In the case of the NASSS framework institutional logics provides a rationale for achieving cross-level alignment between domains. © 2023 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group.

Place, publisher, year, edition, pages
Melbourne: Routledge, 2023
Keywords
Adoption, implementation, innovation, institutional logics, NASSS, normalisation process theory, patient-centred care, remote patient monitoring
National Category
Health Care Service and Management, Health Policy and Services and Health Economy
Identifiers
urn:nbn:se:hh:diva-50060 (URN)10.1080/14479338.2022.2162907 (DOI)000906686400001 ()2-s2.0-85145501124 (Scopus ID)
Available from: 2023-03-06 Created: 2023-03-06 Last updated: 2023-03-06Bibliographically approved
Rahi, A. F., Chowdhury, M. A., Johansson, J. & Blomkvist, M. (2023). Nexus between institutional quality and corporate sustainable performance: European evidence. Journal of Cleaner Production, 382, Article ID 135188.
Open this publication in new window or tab >>Nexus between institutional quality and corporate sustainable performance: European evidence
2023 (English)In: Journal of Cleaner Production, ISSN 0959-6526, E-ISSN 1879-1786, Vol. 382, article id 135188Article in journal (Refereed) Published
Abstract [en]

By analysing 796 companies' data from 21 European countries, this research uncovered the nexus between institutional quality (IQ) and corporate sustainable performance (CSP). The relationship was theoretically examined with the lens of institutional theory and then empirically tested. The findings show that IQ has a positive and significant impact in safeguarding CSP, and firms’ characteristics play an essential preamble in this regard. We additionally found the heterogeneous impact of IQ on CSP. To come to a conclusion, we have applied random effect, two-step system GMM and quantile regression models. Our findings are consistent and empirically robust; therefore, the study disseminates key messages to policymakers and practitioners about the role of IQ in safeguarding CSP. © 2022 The Authors

Place, publisher, year, edition, pages
Amsterdam: Elsevier, 2023
Keywords
Sustainability, Institutional quality, ESG, Corporate sustainability, Performance, Europe
National Category
Economics and Business
Identifiers
urn:nbn:se:hh:diva-48755 (URN)10.1016/j.jclepro.2022.135188 (DOI)000997977200001 ()2-s2.0-85143531510 (Scopus ID)
Funder
The Jan Wallander and Tom Hedelius Foundation
Available from: 2022-12-05 Created: 2022-12-05 Last updated: 2023-08-21Bibliographically approved
Attah-Boakye, R., Adams, K., Hernandez-Perdomo, E., Yu, H. & Johansson, J. (2023). Resource re-orchestration and firm survival in crisis periods: The role of business models of technology MNEs during COVID-19. Technovation, 125, Article ID 102769.
Open this publication in new window or tab >>Resource re-orchestration and firm survival in crisis periods: The role of business models of technology MNEs during COVID-19
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2023 (English)In: Technovation, ISSN 0166-4972, E-ISSN 1879-2383, Vol. 125, article id 102769Article in journal (Refereed) Published
Abstract [en]

Using data from world-leading digital-driven/technology multinational enterprises (DTMNEs), we draw from the resource orchestration theory to investigate the associations between business model (BM) drivers and firm performance during crisis periods. Drawing on data from the COVID-19 pandemic period, we deploy diverse analytical approaches including multivariate linear regressions and aggregated composite index statistical methods in examining how the BMs of our sampled DTMNEs drive firm performance. Our study highlights six methodological approaches that can be utilised by decision-makers in examining which variables in their BM drive better firm performance. Our findings revealed that the principal component analysis and multicriteria decision analysis (PROMETHEE methods) that espouse the use of aggregate composite index can provide significant and consistent predictive results in comparison to the traditional linear methods when examining the association between BM and firm performance during crisis periods. The paper provides policy and managerial implications on how firms and decision-makers can bolster business continuity, resilience, and plasticity by using analytical lenses that identify optimum resource orchestration during crises. © 2023 The Authors

Place, publisher, year, edition, pages
Oxford: Elsevier, 2023
Keywords
Agility, Artificial intelligence, Business models, Digitalisation, Machine learning, Resource orchestrations
National Category
Information Systems
Identifiers
urn:nbn:se:hh:diva-51451 (URN)10.1016/j.technovation.2023.102769 (DOI)001015371900001 ()2-s2.0-85161056670 (Scopus ID)
Available from: 2023-08-17 Created: 2023-08-17 Last updated: 2023-08-17Bibliographically approved
Johansson, J., Johansson, K., Jonasson- Tolv, J., From, M. & Kaluza, J. (2022). Coronastöd till företag: Integration i silos ett hinder för grön omställning och jämställdhet. In: Konferens FALF 2022: 13–15 juni Kiruna: Framtidens arbete – arbetets framtid: Book of abstracts. Paper presented at Forum för arbetslivsforskning (FALF), Kiruna, Sverige, 13–15 juni, 2022 (pp. 54-56).
Open this publication in new window or tab >>Coronastöd till företag: Integration i silos ett hinder för grön omställning och jämställdhet
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2022 (Swedish)In: Konferens FALF 2022: 13–15 juni Kiruna: Framtidens arbete – arbetets framtid: Book of abstracts, 2022, p. 54-56Conference paper, Oral presentation with published abstract (Refereed)
Keywords
Coronastöd, Arbetsliv, Finansiering
National Category
Business Administration
Identifiers
urn:nbn:se:hh:diva-51477 (URN)
Conference
Forum för arbetslivsforskning (FALF), Kiruna, Sverige, 13–15 juni, 2022
Funder
Swedish Research Council Formas
Available from: 2023-08-21 Created: 2023-08-21 Last updated: 2023-12-12Bibliographically approved
Rahi, A. F., Akter, R. & Johansson, J. (2022). Do sustainability practices influence financial performance? Evidence from the Nordic financial industry. Accounting Research Journal, 35(2), 292-314
Open this publication in new window or tab >>Do sustainability practices influence financial performance? Evidence from the Nordic financial industry
2022 (English)In: Accounting Research Journal, ISSN 1030-9616, E-ISSN 1839-5465, Vol. 35, no 2, p. 292-314Article in journal (Refereed) Published
Abstract [en]

Purpose: The purpose of this study is to explore the impact of sustainability (environmental, social and governance or ESG) practices on the financial performance (FP) of the Nordic financial industry. Design/methodology/approach: The study covers a sample selection of observations for a total of 152 firm-years for 39 financial companies within the Nordic region (Sweden, Denmark, Finland and Norway) for the business years including 2015–2019. Data regarding ESG and FP indicators were extracted from the Thomson Reuters Eikon database in July 2020. This is a quantitative study using regression and a generalized method of moments. Findings: Using static and dynamic estimators, the authors found both positive and negative impacts of sustainability practice on FP. The authors identified a negative relationship between ESG practices and FP (return on invested capital, return on equity and earnings per share). The authors identified a positive relationship between governance and return on assets. Originality/value: A key contribution to the accounting literature is the finding that there is a risk for financial firms in adopting sustainability practices, as they follow a logic that contradicts the purely economic rationale. On the other hand, the positive relationship between governance and FP helps not only companies but also regulators and researchers to understand the positive impact of a good governance structure. © 2021, ABM Fazle Rahi, Ruzlin Akter and Jeaneth Johansson.

Place, publisher, year, edition, pages
Bingley: Emerald Group Publishing Limited, 2022
Keywords
Corporate social responsibility, ESG, Financial industry, Nordic financial companies, Performance, Profitability
National Category
Business Administration
Identifiers
urn:nbn:se:hh:diva-46007 (URN)10.1108/ARJ-12-2020-0373 (DOI)000685829000001 ()2-s2.0-85113316869 (Scopus ID)
Projects
Hållbart värdeskapande genom cirkulära affärsmodeller
Funder
Swedish Agency for Economic and Regional Growth
Available from: 2021-12-02 Created: 2021-12-02 Last updated: 2024-02-06Bibliographically approved
Projects
MeTARoaD - Accelerating the roadmap for commercializing and adopting medical technology innovations – the role of different actors’ logics in a health innovation ecosystem; Halmstad UniversityIndustrial symbiosis in the wake of the energy crisis – new ways of working to promote increased biogas production through collaboration [P2022-01103]
Organisations
Identifiers
ORCID iD: ORCID iD iconorcid.org/0000-0002-3377-6177

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