This paper explores the role of the seven constructs—Digitalization, Entrepreneurial Orientation, Funding, Governance, Managerial Capabilities, Market Configuration, and Performance—towards SME sophistication and managerial performance in Brazil. Based on a survey conducted among Brazilian SME managers, focusing on seven key constructs—Digitalization, Entrepreneurial Orientation, Funding, Governance, Managerial Capabilities, Market Configuration, and Performance, a novel entropy maximization approach based on neutrosophy, fuzzy logic, and gray relational analysis was designed to retrieve information on perceptual Likert scales so as distinct construct indexes could be built. Subsequently, a robust MCDM approach was implemented on the sophistication scales of each construct to identify the key drivers within and between superior SME construct indexes towards improved managerial performance. The study found that funding, governance, entrepreneurial orientation, and digitalization are major factors contributing to SME sophistication in Brazil. Additionally, managerial capabilities and market configuration were identified as critical for supporting and enhancing managerial performance and competitiveness. This suggests that a combination of strong internal management practices, strategic governance, and access to funding and digital resources plays a central role in SME growth and performance. These insights underscore the importance of comprehensive resource management and organizational adaptability for Brazilian SMEs aiming to enhance their operational effectiveness and market positioning.
Climate change is reshaping global hydrological cycles, intensifying scarcity and heightening health risks in vulnerable regions. This study examines the health impacts of climate-driven water scarcity across the Middle East, South Asia, and Sub-Saharan Africa using data on water availability, climate variability, and health outcomes. The study uses a multi-regional mixed methods approach that brings together climate, hydrology, governance, and health data to explore how climate-driven water scarcity affects public health in South Asia, Sub-Saharan Africa, and the MENA region. It combines quantitative climate and health indicators with qualitative evaluations of water system vulnerability to compare exposure pathways and health outcomes across regions. Findings show that rising temperatures, altered rainfall, declining groundwater, and recurrent droughts undermine water security, leading to increased disease burdens through four pathways: (1) waterborne illnesses from unsafe or insufficient supplies; (2) reduced hygiene due to limited access; (3) food insecurity from crop failures; and (4) mental health stress, conflict, and displacement from water competition. Women, children, and low-income households face disproportionate impacts. Current adaptation measures are fragmented, highlighting the need for integrated water governance to build climate resilience. Recommended strategies include community-based water safety planning, digital water monitoring, and embedding health metrics in climate-water policies. This cross-regional analysis supports equitable, climate-resilient health systems and informs interventions to mitigate water scarcity under accelerating climate change. This study directly supports global policy agendas by providing evidence that advances the objectives of the Sustainable Development Goals and international frameworks on climate resilience, water security, and food and health protection.
PurposeDrawing on legitimacy theory, this study examines whether UK NGOs have improved the quality and quantity of their environmental disclosures over a decade, in line with societal expectations for transparency and accountability.Design/methodology/approachWe conducted a manual content analysis of annual reports from 35 leading UK NGOs, comparing environmental disclosures from 2013 to 2023. Drawing on established literature, we identified relevant keywords to assess disclosure quality. Consistent with prior studies, disclosure quality was coded into four categories: narrative (NAR), numerical (NUM), policy/targets (P/T) and operational activities (OA). Each disclosure was further classified as internally or externally oriented. To evaluate changes over time, we applied t-tests to examine the statistical significance of variations in disclosure patterns. The analysis compared hand-collected data from 2013 with matched data from 2023. This approach enabled a robust assessment of periodic shifts in environmental reporting practices within the UK NGO sector.FindingsResults show a significant increase in both the volume and quality of environmental disclosures over time. Numerical and operational disclosures, deemed to be of higher quality, rose more than narrative and policy disclosures. Internal-facing disclosures also grew to a higher degree, compared to external-facing, highlighting NGOs' commitment to organisational environmental accountability.Originality/valueThis study provides the first evidence that over the passage of time, NGOs, like publicly listed firms, are adopting high-quality environmental reporting practices. It advances legitimacy theory and contributes to the understanding of NGO accountability.
Research on biodiversity has centred on multinational enterprises (MNEs) from Triad economies. Although African MNEs command a small share of global output, they operate in biodiversity-rich sectors. This study examines how internal governance and national institutions influence biodiversity commitment in African MNEs. Using the Upper Echelons and Institutional theories, the study sought to understand the extent to which board independence and board gender diversity influenced firm-level biodiversity commitment, and whether the presence of a sustainability committee and institutional quality enhanced that commitment. We analysed a panel dataset of 247 listed MNEs from Nigeria, Egypt, South Africa, Kenya and Ghana between 2010 and 2023. Biodiversity commitment is measured with four indicators covering commitment, due diligence, impact assessment and risk assessment. We find that board independence is positively associated with firms' biodiversity commitments, and greater female representation on boards shows a similar pattern across both the composite index and its component indicators. In contrast, the presence of sustainability or governance committees exhibits a weaker negative association with biodiversity commitment; however, this relationship turns positive where regulatory quality is stronger. We identify specific governance attributes that shape biodiversity outcomes and highlight the institutional conditions under which committees operate as substantive rather than symbolic controls. Our findings show that board composition, regulatory quality, and investor attention to substance beyond disclosure carry important implications for future research.
This study examines whether acquiring firms incur lower premiums in mergers and acquisitions (M A) deals involving target firms reporting conservatively over the years preceding the deal. Using a sample of M A deals between U.S. publicly listed firms over the period 1985–2022, we find that the target’s conservative accounting is negatively associated with the takeover premium. We also find that the negative association between the target’s conservative accounting and the takeover premium holds only when the target’s ex ante information asymmetry is high. These findings suggest that the target’s conservative accounting protects acquirers from an overpayment by mitigating the adverse consequences of uncertainty about the target’s value arising from the target’s high ex ante information asymmetry. In further analysis, we show that the target’s conservative accounting is also associated with the shareholder wealth of target firms, as reflected by the stock market reaction to the announcement of M A deals. This study has important implications for accounting standard-setters regarding the informational role of accounting conservatism in the efficient allocation of economic resources in the M A market.
