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2023 | Buch

Corporate Sustainability in Times of Virus Crises

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Über dieses Buch

This book analyses the effect of biological risk on business and management by considering case studies from Malaysia, Lebanon, and G20 countries during the COVID-19 pandemic. Covering a wide range of topics, such as effects of virus risk on corporate sustainability, COVID-19 and CSR activities, governance practices and regulations for derivative products in emerging markets, risk management during a pandemic, and AI applications in the health sector, this book assists top management in redesigning business models and organisational management in a post-pandemic world and in becoming better equipped to tackle future biological risks or pandemic events.

Inhaltsverzeichnis

Frontmatter

Introduction

Frontmatter
Chapter 1. Effects of Virus Risk on Corporate Sustainability: Literature Review
Abstract
COVID-19 prompted scientists, experts, and health professionals to join efforts in an attempt to find effective ways to mitigate risks, curb the consequences, and balance the trade-offs in a dynamic business environment characterized by sudden changes in market demand unpredictability, financial crashes, and profound adversities (van Barneveld et al. in Econ Labour Relat Rev 31:133–157, 2020). Inflation rates and energy costs have increased all over the world. While education has evolved into distance education with the COVİD announcement, unfortunately, two years have gone down in history as a loss for students who do not have computers, smart phones and internet facilities. In this study, recent published articles about the effects of COVID-19 on different sectors and economy were examined. It seems that while health and information technologies have profited from the COVID period, the tourism sector has taken a big hit.
Kıymet Tunca Çalıyurt

Covid-19 Cases by Countries

Frontmatter
Chapter 2. Covid-19 CSR Activation by Malaysian Companies: Evidence from Online News
Abstract
The novel Coronavirus (Covid-19) has badly affected individuals and organizations all around the globe. There are many efforts undertaken by organizations to assist governments in combating the pandemic. This include spending funds to curb the Coronavirus which is the corporate social responsibility (CSR) activities. This paper aims to investigate the extent of CSR activation by Malaysian companies in battling the Covid-19 pandemic via content analysis of online news during the implementation of the Movement Control Order by the government using the legitimacy theory and coercive isomorphism under the umbrella of institutional theory. The analysis includes the examination of online news which was captured from a Google search from a period 18 March to 17 May 2020. There were 95 online news captured during the period. The results found out that the types of CSR activation were classified into: monetary, non-monetary and both. It is also found that the CSR activation reported on online news is part of the companies’ legitimation strategies in addition to the on-going business’s marketing strategies. Several implications and limitations are also provided in this paper.
Corina Joseph, Heidi Christy Mingi Michael
Chapter 3. The Impact of COVID-19 and the October 17th Revolution on Employees’ Performances: Case of Lebanese Banks
Abstract
This research aims to identify clients’ perception toward employees’ performances, attitude towards banks’ procedures and to review their consideration of switching banks due to the October 17th revolution, and COVID-19 catastrophic outbreak. In this study, Lebanon was chosen as an ideal background and more specifically Lebanese Banks’ clients. This research opens the opportunity to test their level of approval of employees’ performance, banks’ procedures, and bank switching possibility. Data was collected, by gathering primary and secondary information, through a quantitative approach. Required data were gathered from surveying Lebanese clients dealing with different banks, and coming from diverse backgrounds and regions through an online survey. The main findings revealed that the October Revolution coupled with the outbreak of the Corona Virus had a tragic impact on Lebanese banks. Further results indicated that clients are not satisfied with employees’ performance. Consequently, the majority was considering switching banks in search of more satisfactory job performance by employees.
Walid Dagher, Akl Kayrouz, Pascal Nasrallah, Roland Shahoud, Leonie Nemer, Rebecca Shahoud

Corporate Governance in Covid Times

Frontmatter
Chapter 4. Executive Compensation and Corporate Governance Post COVID-19: The Nordic Perspective
Abstract
COVID-19 outbreak has re-designed business activities and changed the priorities in our lives. Since the pandemic is a sign of overexploitation of our habitat, it has stressed the importance of sustainable and resilient businesses and ‘stakeholderism’. A recent survey conducted by Willis Towers Watson (WTW) revealed that 74 percent of the American companies proceed with their executive compensation frameworks widely consistent with last year’s; only 12 percent stated that they will make substantive changes in their corporate governance and remuneration structures. Surprisingly, the survey result does not alter too much in the Nordic countries which are egalitarian and stakeholder-oriented. Three-fifth (57 to 61 percent) of the employers in Norway, Sweden, Denmark, and Finland expressed that they are not planning to change the structure of the executive schemes and that one-fourth (24 to 26 percent) are still unsure. Therefore, this book chapter, as a commentary, aims to disclose and interpret the survey results from the Nordic countries perspective and guide the practitioners and academics on how the corporate governance systems and executive compensation schemes should be modified to reach fair, resilient, and sustainable businesses based on the key takeaways from the COVID recession and stakeholder theory.
Mehtap Aldogan Eklund, Olof Svensson
Chapter 5. Governance Practices and Regulations for Derivative Products in Emerging Markets in the Wake of the COVID-19 Pandemic and the Subprime Global Financial Meltdown
Abstract
This chapter discusses some of the key obstacles for the launching of successful derivative products in emerging economies and proposes some policy measures, governance practices and regulations with the objective of setting unambiguous operational platforms, sound regulations and effective oversights within financial markets and institutions. In this regard, key regulatory and operative processes and guidelines, which should be carefully evaluated prior to starting the operational aspects of formal derivatives securities markets, are reviewed and tailored to the particular requirements of emerging markets ecosystem. This chapter will appeal to those concerned in launching of coherent and reliable operational platforms for the trading of derivatives products in emerging markets, primarily in the wake of the outcomes of the 2007–2009 global financial meltdown and the COVID-19 health crisis.
Mazin A. M. Al Janabi

Accounting and Finance in Covid Times

Frontmatter
Chapter 6. The Impact of Covid-19 on the Sustainability of the Accounting Profession: Turkey Case
Abstract
Nowadays, where the relations between business and society change under the influence of various factors, society expects businesses to create social and environmental values ​​as well as economic value. From this point of view, sustainable business success; in addition to following economic policies aimed at increasing shareholder profits in enterprises, it requires the monitoring and measurement of the effects of business activities on the environment and society, and the use of tools and methods to fulfill these transactions. At this point, the duty of accounting is to provide information about economic activities as well as to provide information to its stakeholders about the social and environmental performance of the enterprise. As of 2019, it is important to reconsider the issue of accounting profession and sustainability in the face of the COVID-19 pandemic affecting the world and the changes experienced and to address the responsibilities of the accounting profession in this process. In this period, which is called the epidemic period caused by COVID-19 and affected all countries of the world, social and economic orders, companies and professions faced many positive and negative effects. This period accelerated the digital transformation, brought services to the agenda, and many professions had to adapt to this digital transformation. There are also professional accountants among these professions. Moreover, accounting professionals are the most important stakeholders and indispensable actors of companies, which are the smallest dynamos of economies. In this context, it is aimed to reveal the relationship between sustainability, the role of accounting and the COVID-19 outbreak in this study. In this study, regarding the professional accountants who assume such a big task in social and economic terms; COVID-19—to determine how the professional accountants are affected positively and negatively during the pandemic period. It is aimed to identify how these effects change business lives and office environments, and in this context, to present a roadmap for the future sustainability of the accounting profession. The study consists of three parts; In the first part, literature research, in the second part, the need for the profession, and in the third part, a survey study was conducted for accounting professionals across Turkey, and the positive and negative situations they experienced during the COVID-19 period and the ways they adapted to these situations were investigated. As a result, when such epidemic periods are encountered again, solutions have been suggested for what kind of a road map to follow in terms of the sustainability of the profession.
Seval Selimoğlu, Ali Özdemir, Aytül Ayşe Cengiz
Chapter 7. Sustainability Accounting in Times of the COVID-19 Pandemic
Abstract
COVID-19 pandemic has caused a remarkable change in the corporate accountability process, determining the development of accounting and its role in sustainable decision making. This research contributes to understand the role of sustainability accounting in times of the COVID-19 pandemic. The thesis is that sustainability accounting may strengthen corporate responsibility and accountability during a crisis situation, like a pandemic. In this perspective there are presented crucial sustainability accounting fields, like valuation of sustainable development goals, managerial control and sustainability reporting. The research methodology is based on descriptive and comparative analysis, and the inductive and deductive reasoning helps to reach the presented conclusions. The paper presents scientific achievements in the area of sustainability accounting in times of the COVID-19 pandemic. The research results indicate the directions of sustainability accounting development against business conditions during the pandemic and new expectations of stakeholders. They may be important for sustainability management in uncertain times of the pandemic. Since limited study exists that examine accounting in times of corona virus pandemic, little is known about the role of sustainability accounting during this period. This paper contributes to filling this gap.
Beata Zyznarska-Dworczak
Chapter 8. The Causal Relationship Between Coronavirus (COVID-19) and Stock Indices: A Case Study for G20 Countries
Abstract
Coronavirus (COVID-19 or SARS-CoV-2) spreads rapidly around the world. Coronavirus reached 8,000 cases on Jan 30, 2020. When the cases that lost their lives were examined, the majority of them were found to be elderly patients or patients diagnosed with chronic heart, lung and kidney, Parkinson's, and Diabetes. The number of cases worldwide was 509,164, the number of deaths worldwide was 23,335 while analyzing this study. COVID-19 also affected many economic variables in the world. Some of these variables are stock indices. In this study, it is aimed to discover the causal relationship between stock indices and coronavirus. Daily data were used in the research. Stock indices and total deaths and total cases of coronavirus are matched for each country. Unit root tests, Pairwise Granger Causality Tests, and regression analysis were made. The stationarity and level of significance were calculated. Causality Tests used to test hypotheses regarding the presence and the direction of causality.
Volkan Dayan

Recommended Management Styles during the Covid-19

Frontmatter
Chapter 9. The Perception of Epidemic Situation Amongst Coaching and Mentoring Professionals: An Emotional Analysis Approach
Abstract
In this paper, the perception of COVID-19 situation amongst coaching, mentoring, and supervision practitioners is analyzed based on the survey conducted by European Mentoring Coaching Council (EMCC Global) with the participation of (476) people from various countries. Based on the data obtained, ‘word cluster analysis-emotional text mining’ and ‘correlation analysis’ are performed. The major empirical findings are summarized as follows: firstly, correlations are calculated among the most repetitive words in the statements of participants by using the Euclidian distance approach. In this respect, participants describe COVID-19 related feelings with the most frequent words they use as coaching, work, anxiety, clients, working, fear, time, business, home, and stress respectively. This indicates that COVID-19 epidemic related issues leads participants to think about their clients. They have the most common feelings of anxiety, stress, and fear at work, business and home. They are sensitive about the time as well. Secondly, cluster dendrogram is applied and this indicates that there are five major categories defined with strong correlation between them such that: coaching, work, anxiety, change, issues, crisis, will, managing, new, people, management, client, working, fear, uncertainty, future, time, stress, business, home. In conclusion, policy recommendations are made regarding the pandemic period all over the world in order to contribute relevant literature based on the empirical findings of EMCC Global’s survey.
Sezer Bozkus Kahyaoglu, Riza Kadilar
Chapter 10. Changes in Working Conditions in the Light of a Primary Research During the Pandemic in Hungary
Abstract
Working conditions around the world have been transformed by the pandemic. Businesses were able to determine whether an employee was able to work from home without hindrance, or whether the nature of the activity did not allow for working from home, based on the activities they carried out. A new aspect has been introduced to differentiate work, namely, whether or not it can be teleworked and, if so, under what arrangements and conditions. For the businesses which could allow for working from home after overcoming initial difficulties, there was no significant loss of turnover, but unfortunately, there were sectors worldwide which had to practically suspend their activities, e.g. tourism, catering, travel organisation, travel. Within the framework of primary research the objective of our analysis was to explore how employers have reacted to these changing circumstances and how they have or have not passed them on to their employees.
Zsuzsanna Széles, József Csernák, Aranka Baranyi
Chapter 11. AI Applications in Health Sector: Use of Artificial Intelligence in Covid-19 Crisis and Impacts of Medical Robots on Global Economy
Abstract
Opinions stating that artificial intelligence (AI) and robotic technologies are digital technologies which would have important impacts on the development of humanity in the near future were actually recognized in the world, however, some basic problems about what can be done with such systems, what the systems are required to be perform by themselves and which risks they bear or how these system would be controlled, were being heavily discussed. These discussions generally contained some biases regarding that the era of human control would end with the use of such means. With the emergence of the Covid-19 pandemic in our present day, it was faced with the problem where the artificial intelligence and robotic technologies have become compulsory due to the fact that the utilization requirements particularly in logistic or health sector have increased. In conclusion, the attention was drawn to the importance of the solutions proposed by the artificial intelligence and robotic technologies pertaining to reduce the risks onto covering the human life and basic needs of people. The aim of this research is to determine the future predictions with findings obtained from the analyses based on the requirement increase for using the robotic Technologies experienced pre and post Covid-19 since an effective pandemic process enough to lead to the ignorance of the problems likely to occur due to the utilization of AI systems is experienced. A comparative historical method is utilization as research method in the study. The utilization of artificial intelligence and robotic technology means in the world between 2009 and 2019, their utilization pre and post Covid-19 and analyses created with estimations for their utilization in the future years are included. Depending on the findings, while the need for the utilization of such Technologies with the impact of Covid-19 is evaluated, it is aimed to determine the impacts in new normal process. According to the results we obtained, it is attempted to determine the requirement of which models among the artificial intelligence and robotic technologies should be utilization in which areas. While societies many countries having different economic powers in the world have been primarily struggling for survival against a too severe epidemic due to Coronavirus epidemic which has started as from the early months of 2020 and spread to many countries, they are facing with slackening and globalizing economic crises due to restrictions. The epidemic was perceived as a problem only experienced in China in the early months since it was actually announced that it started in Wuhan City of China in the late months of 2019. For this reason, some solutions were initiated by other countries and companies for minimizing the risks to be cauterization by recession experienced in China depending on the fact that China is a highly effective country in the global markets. Once a few months later it was understood that a pandemic which affects many countries in the world is experienced, the Covid-19 pandemic has globalized in a very short time with the impact of the inadequacy problem created on health systems of the countries and lack of drug and vaccination to treat the disease. Within the scope of quarantine restrictions applied in the pandemic process, it was seen that the need felt for the utilization of artificial intelligence and robotic Technologies in the health sectors for covering the basic needs of people, notably health services or executing the economically necessary shopping, has increased. Thus, Covid-19 pandemic has facilitated the process of using robotic Technologies and Industrial Revolution 4.0 which has actually started long time ago. Today, it is observed that the artificial intelligence and digitalization have further entered into the life of people in any field ranging from health to education and they are found in the foundation of the process called as new normal. Researches related with this study validate that the utilization of medical robotic technology has significantly increased the safety and quality of health management systems in the Covid-19 process compared with manual systems due to the digitalization of health services. Also, the utilization of robotic technologies provides important conveniences in the health sector. In the first part of this study, introductory information are given about artificial intelligence and robotic Technologies in a descriptive method. In the second part, analyses are performed for the change in utilization levels of robotic Technologies with the impact of Covid-19 by including indicators related with the subject. After the findings obtained from the research and illustrations in the literature are explained, finally the impacts of Covid-19 pandemic are determined. In the digitalization process facilitated with the globalization of pandemic, it is attempted to obtain the most correct provisions and predictions for the future depending on the importance of the utilization of artificial intelligence and robotic technology. According to these classifications, the utilization field ad functions of the medical robots are as follows (Momont 2020). Surgical robots provide surgical service with precision and accuracy compared with human surgeons. Many tele-operators have been designed for remote operations (Grespan et al. 2019). Radiologist robots are utilization in radiology, angio and 3D imaging due to high radiation level and safety problems for human operators (Twin 2020). Rehabilitation robots support the relieving of nerves by alleviating the muscular disorders in treatment of elderly people, disabled and patients under disturbing conditions and in rehabilitation of patients who underwent accident or stroke (Zhao et al. 2020). Tele-medicine robots are helpful in epidemics in distant regions where a remote medical doctor is provided by all information and diagnoses diseases, healthcare personnel is not available (Koceska et al. 2019). Receptionist robots are utilization in hospital reception for guiding the patients. Ambulance robots are helpful in providing urgent treatment to any remote patient as soon as possible. Nurse robots are intended for assistance to medical doctors just as human nurses and commonly utilization particularly in Japanese hospitals. Hospital service robots are utilization in duties such as displacement of heavy materials in hospitals or for distributing foods to patients (Mettler et al. 2017). Cleaning robots are utilization in hospital cleaning Works such as mopping or disinfecting in the hospitals (Prassler et al. 2000). Disinfection robots are utilization for drugs whose contact with human is dangerous in spraying of antiseptic mixtures to wide outdoor areas or wide settlement centers. Food robots are robot chief utilization in hospital kitchen for offering high-quality foods by the hygienic standards (Iqbal et al. 2017). Delivery robots are robots and drones utilization in transport of drugs and blood samples, operating on the ground or air and saving life by making urgent deliveries.
Findings;
  • The importance of opportunities provided by the artificial intelligence is increasing depending on the increase of online shopping preferences under the quarantine conditions in Covid-19 process.
  • While demand for these technologies has existed since the previous years since some heavy works for human were performed by robots in the logistic sector all over the world, the increases of these utilizations were accepted as natural due to the necessity of using within the scope of contact-free trade in the Covid-19 process.
  • As a result of robots are able to fulfill the necessary duties such as lifting heavy and providing consistency while providing cognitive skills of a capable individual, people and robots work on the same duty together.
  • While the utilization of robots was started in the previous years in the healthcare sector, Covid-19 has accelerated this process. An increase trend was initiated in the utilization of artificial intelligence and robotic technologies used in diagnosis and treatment stages of Coronavirus contamination.
  • During the outbreak, telemedicine even helped provide mental health support. The vision of rolling out systematic, accessible, and comprehensive mental health support for healthcare workers and general public was made possible by many popular online platforms. The 2020s may turn out to be the decade when digital technology reshapes the health system. COVID-19 has certainly driven many developments in the first three months of 2020, as the digital health community continues to navigate how best to bolster classic public health measures (WHO 2021).
  • Telemedicine is being adopted for triage and treatment of outpatient, enabling protection for patients and medical practitioners to reduce exposure risk from unnecessary exposure. Telemedicine and virtual care can be integrated into the healthcare system as an approach to maximize the efficiency of healthcare delivery. It promotes social distancing measure and help medical centers in managing prolonged waiting times and risk of disease progression. By minimizing in-person visits and reducing face-to-face contact among physicians and patients, the use of virtual care solutions can help lessen the transmission of the virus and protect medical practitioners from infection (Bokolo 2020).
Last of all; In this study, it is attempted to determine the changing utilization preferences due to Covid-19 pandemic about the impacts of the artificial intelligence and robotic technologies. For this purpose, the artificial intelligence and robotic technologies were defined and short historical development, types, classifications and utilization areas were described. Then, the analyses of the developments intended for transition of only industrial robots and medical robots into the daily life were performed since types of smart and moving robots but different from people, that is, these devices designed for living and cooperating with people are numerous. At this point, it was targeted to determine the risk or challenges to be created by their utilization in the process of Covid-19 pandemic prevailing effectively in our present day. After all, robots are being used in any field that comes to our mind, for example, they take inventory in businesses or clean floors in stores. They rack up the goods to be sold or bring for being sent to warehouses. They cut vegetables, fruits and even they pick fruits. On the other hand, they assist in the care of autistic children or help paralyzed people to re-use their limb. They serve as patrol at national boundaries or attack to targets they see as enemies in case of war. On one hand, they organize flowers or support people in their personal services. In short, their utilization has started in any field of life with their features of helping from different point of views, however, the issue asking that which fields they can be more helpful in such a fatal pandemic process exercising control over the whole world, has really gained great importance. The meaning of the artificial intelligence and robot support has altered in such an environment where boundaries among all countries in the world were closed, people have to maintain their daily life under quarantine conditions, there is no therapeutic drug apart from mask, disinfectant and mask solutions, it is fighting against Coronavirus diseases for which there is no vaccination. For this purpose, indicators where utilization and sales of industrial robots in the pre-Covid-19 process were examined or utilization of logistic robots and medical robots in the pre and post Covid-19 process was examined, are included. A comparison between the impacts of Covid-19 and utilization of artificial intelligence and robotic technology was performed, findings obtained were explained and also, opinions obtained from the analyses performed in the related literature were included. As a result of analyses based on definitions made by descriptive method, their utilizations by years and impacts of Covid-19; it is understood that “The utilization of artificial intelligence and robotic technologies has been already preferred, but, this preference demand has showed increase compulsorily with the impact of Covid-19”. Since any work is acknowledged as dangerous for people, the demand for mechanical changes has quickly increased. In conclusion, this pandemic has been useful mostly for workers; industrial and medical robots. However, a problem stating that medical robots will substitute the healthcare professions or healthcare professional army will be required to be diminished in professional sense, is never observed. On contrary, it is clearly understood that the utilization of artificial intelligence and robotic technologies will be the most important support factor in terms of both those working in health profession and those being under the risk of contamination in such an important subject for the human life like pandemic.
Özlem Arzu Azer, İbrahim Bora Oran
Chapter 12. Evaluation of Vaccine Supply Chain Performance Activities of Health Systems in the COVID 19 Pandemic Period with DEA: European Countries
Abstract
In this paper, the linkage of two different concepts; sustainable competitive advantage (SCA) and Supply Management (SM) are analyzed. SCA has been gaining attention in last decades. Companies have been trying to obtain SCA in order to be successful and keep their position in the future. As competition intensifies among enterprises, each enterprise seeks to research how to reduce costs and/or achieve excellence compared to competitors in the market. One of the areas that the enterprise can exploit to achieve a sustainable competitive advantage is the supply chain. Supply chain management (SCM) philosophy is based on collaboration of suppliers, manufacturers and distributers. SM is a vital part of SCM and SM has been gaining importance in the last decades according to several factors. Sustainable SM activities may provide supply chain SCA from many aspects. It is argued that Supply Management (SM) is linked with performance and effects on SCA directly or indirectly. In this chapter, the health systems vaccine supply chain performance activities were evaluated with DEA during the COVID 19 pandemic period, using the health indicators of European countries for January 2022 in Trading Economics and WHO databases.
Özlem Aladağ Bayrak, Kadir Kaan Göncü

Sustainability in Education during the Covid-19

Frontmatter
Chapter 13. Sustainable Teaching: Teacher Readiness for Online Teaching Working from Home
Abstract
The COVID-19 pandemic has prompted a shift to online education, and work from home is becoming the new normal for teachers. Key areas of interest in this context are teacher readiness, online teaching, and working from home. Through a rigorous literature survey, this paper identifies gaps, looks for possibilities, and identifies factors affecting teacher readiness, online teaching, and working from home for online teachers. Five main areas for intervention are identified: keeping online audience attention, technology and preliminary infrastructure, social and emotional factors of online teachers, learner readiness, and effective management. The future course of research is also discussed.
Christo Joseph
Backmatter
Metadaten
Titel
Corporate Sustainability in Times of Virus Crises
herausgegeben von
Kıymet Tunca Çalıyurt
Copyright-Jahr
2023
Verlag
Springer Nature Singapore
Electronic ISBN
978-981-19-9079-3
Print ISBN
978-981-19-9078-6
DOI
https://doi.org/10.1007/978-981-19-9079-3