Development of a Corporate Governance Model with an Entrepreneurial and Social Responsibility Approach (Case Study: Company of Development of Sugarcane and Ancillary Industries)
Subject Areas : Management and Sustanable DevelopmentHossein Drisavi Bahmanshir 1 , Fereydoun Omidi 2 , Foad Makvandi 3 , Mehdi Basirat 4
1 - Department of Business Management, Khorramshahr International Branch, Islamic Azad University, Khorramshahr, Iran.
2 - Department of Business Management, Khorramshahr International Branch, Islamic Azad University, Khorramshahr, Iran.
3 - Department of Management, Shushtar Branch, Islamic Azad University, Shushtar, Iran.
4 - Department of Economics, Ahvaz Branch, Islamic Azad University, Ahvaz, Iran.
Keywords: corporate entrepreneurship, Governance, Social Responsibility, Meta-integration, Sugarcane Development Company and Ancillary Industries,
Abstract :
Corporate entrepreneurship has a key role in the success of companies. The purpose of this research is to develop a corporate governance model with an entrepreneurial and social responsibility approach. The research is practical and exploratory in terms of purpose. The statistical population includes articles and texts related to corporate entrepreneurship, governance and social responsibility, and experts and specialists in the sugar industry of Khuzestan province. The time domain is from 2019 to 2021. In the qualitative phase, the statistical sample for the meta-combination method of articles and related texts and for the fuzzy Delphi technique is 17 experts using a targeted method. In the quantitative stage, the statistical sample for interpretive structural modeling and structural equation modeling is 40 experts. In the qualitative stage, the researcher made a collection of related articles and texts, and in the quantitative stage, the researcher made a questionnaire. The results of the research showed that based on the values of the obtained fit indices, the overall structure of the research model is appropriate. The final model has 4 dimensions, 15 components and 71 indicators. In explaining the findings of this research, governance has a significant impact on corporate entrepreneurship and corporate entrepreneurship, a significant impact on corporate social responsibility, and finally, corporate performance.
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Bambang, A., Kusumawati, A., Nimran, U., & Suharyono, S. (2021). The Effect of Spiritual Marketing and Entrepreneurship Orientation on Determining Sustainable Competitive Advantage. Journal of Asian Finance, Economics and Business, 8(2), 231-241.
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Diamastuti, E., Muafi, M., Fitri, A., & Faizaty, N. E. (2021). The Role of Corporate Governance in the Corporate Social and Environmental Responsibility Disclosure, Journal of Asian Finance. Economics and Business, 8(1), 187-198.
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Hassan, M. K., Abu Abbas, B., & Garas, S. N. (2019). Readability, governance and performance: a test of the obfuscation hypothesis in Qatari listed firms. International Journal of Business in Society, 19(2), 270-298.
Keum, D. D. (2020). Innovation, Short‐termism, and the Cost of Strong Corporate Governance. Strategic Management Journal, 42, 3-29.
Konzelmann, S. (2003). Markets, Corporate Governance and Creative Work Systems: The case of Ferodyn The Journal of Interdisciplinary Economics, 14, 139- 158.
Lai, A., Leoni, G., & Stacchezzini, R. (2019). Accounting and governance in diverse settings-an introduction. Accounting History, 24(3), 325-337.
Ngatno, N., Apriatni, P. E., & Youlianto, A. (2021). Moderating effects of corporate governance mechanism on the relation between capital structure and firm performance. Cogent Business & Management, 8(1), 1-22.
Qiu, S., Jiang, J., Liu, X., Chen, M.-H., & Yuan, X. (2021). Can corporate social responsibility protect firm value during the COVID-19 pandemic? International Journal of Hospitality Management, 93, 1-12.
Rahmani Noorozabad, S., Anvary Rostamy, A., Khalili, K., & Mohamadi, A. (2021). The Impact of External Financing Requirements on Corporate Governance Index and Company Value: Evidence from Tehran Stock Exchange Financial Management Strategy, 9(1), 1-24. https://doi.org/10.22051/jfm.2020.26819.2126 (In Persian)
Rauch, A., Wiklund, J., Lumpkin, G. T., & Frese, M. (2009). Entrepreneurial orientation and business performance: An assessment of past research and suggestion for the future. Entrepreneurship Theory and Practice, 33, 761–781.
Westphal, J. D., & Zajac, E. J. (2013). A behavioral theory of corporate governance: explicating the mechanisms of socially situated and socially constituted agency Academy of Management Annals, 7(1), 605-659.
Wiklund, J., & Shepherd, D. (2005). Entrepreneurial orientation and small business performance: A configurational approach. Journal of Business Venturing, 20, 71-91.
Yang, B., Watkins, K. E., & Marsick, V. J. (2004). The construct of the learning organization: Dimensions, Measurement, and validation. Human Resources Development Quarterly, 15, 30-31.
Zhou, M., Li, K., & Chen, Z. (2021). Corporate governance quality and financial leverage: Evidence from China. International Review of Financial Analysis, 73, 1-13.
_||_Amini, C., & Dal Bianco, S. (2017). Corporate social responsibility and Latin American firm performance. International Journal of Business in Society, 17(3), 403-445.
Bambang, A., Kusumawati, A., Nimran, U., & Suharyono, S. (2021). The Effect of Spiritual Marketing and Entrepreneurship Orientation on Determining Sustainable Competitive Advantage. Journal of Asian Finance, Economics and Business, 8(2), 231-241.
Chkir, I., Hassan, B. E. H., Rjiba, H., & Saadi, S. (2021). Does corporate social responsibility influence corporate innovation? International evidence. Emerging Markets Review, 46, 1-54.
Diamastuti, E., Muafi, M., Fitri, A., & Faizaty, N. E. (2021). The Role of Corporate Governance in the Corporate Social and Environmental Responsibility Disclosure, Journal of Asian Finance. Economics and Business, 8(1), 187-198.
Gerged, A. M. (2021). Factors affecting corporate environmental disclosure in emerging markets: The role of corporate governance structures. Bus Strat Env, 1-21.
Hassan, M. K., Abu Abbas, B., & Garas, S. N. (2019). Readability, governance and performance: a test of the obfuscation hypothesis in Qatari listed firms. International Journal of Business in Society, 19(2), 270-298.
Keum, D. D. (2020). Innovation, Short‐termism, and the Cost of Strong Corporate Governance. Strategic Management Journal, 42, 3-29.
Konzelmann, S. (2003). Markets, Corporate Governance and Creative Work Systems: The case of Ferodyn The Journal of Interdisciplinary Economics, 14, 139- 158.
Lai, A., Leoni, G., & Stacchezzini, R. (2019). Accounting and governance in diverse settings-an introduction. Accounting History, 24(3), 325-337.
Ngatno, N., Apriatni, P. E., & Youlianto, A. (2021). Moderating effects of corporate governance mechanism on the relation between capital structure and firm performance. Cogent Business & Management, 8(1), 1-22.
Qiu, S., Jiang, J., Liu, X., Chen, M.-H., & Yuan, X. (2021). Can corporate social responsibility protect firm value during the COVID-19 pandemic? International Journal of Hospitality Management, 93, 1-12.
Rahmani Noorozabad, S., Anvary Rostamy, A., Khalili, K., & Mohamadi, A. (2021). The Impact of External Financing Requirements on Corporate Governance Index and Company Value: Evidence from Tehran Stock Exchange Financial Management Strategy, 9(1), 1-24. https://doi.org/10.22051/jfm.2020.26819.2126 (In Persian)
Rauch, A., Wiklund, J., Lumpkin, G. T., & Frese, M. (2009). Entrepreneurial orientation and business performance: An assessment of past research and suggestion for the future. Entrepreneurship Theory and Practice, 33, 761–781.
Westphal, J. D., & Zajac, E. J. (2013). A behavioral theory of corporate governance: explicating the mechanisms of socially situated and socially constituted agency Academy of Management Annals, 7(1), 605-659.
Wiklund, J., & Shepherd, D. (2005). Entrepreneurial orientation and small business performance: A configurational approach. Journal of Business Venturing, 20, 71-91.
Yang, B., Watkins, K. E., & Marsick, V. J. (2004). The construct of the learning organization: Dimensions, Measurement, and validation. Human Resources Development Quarterly, 15, 30-31.
Zhou, M., Li, K., & Chen, Z. (2021). Corporate governance quality and financial leverage: Evidence from China. International Review of Financial Analysis, 73, 1-13.