In this paper, we propose a binomial approach to modeling sequential R&D investments. More specifically, we present a compound real options approach, simplifying the existing valuation methodology. Based upon the same set of assumptions as prior models, we show that the number of computational...

What drives Corporate Social Responsibility (CSR) engagement of firms? Most empirical literature on firms' CSR engagement focuses on benefits resulting from CSR engagement which are granted by the public. Other studies argue that firms are driven by fear of negative public reactions. This...

Sustainability issues became ever more important for firms' business strategies. Not living up to public and stakeholders' expectations results in controversies damaging the firm's reputation. Firms integrate sustainability aspects – environmental, social, and governance (ESG) issues – in...

Civil Society Organizations (CSOs) play an active and noteworthy role in governance, both at the national and international level. Three questions arise: First, how do CSOs exercise their advocacy, what repertoires, strategies and resources do they use? Second, to what degree are they...

Corporate scandals led to an increased interest in improving managers' compliance. To this end, companies implement compliance programs including codes of conduct, compliance training, and whistle-blowing as core elements. Previous research has focused on the impact of the mere existence of one...

Relations between society and business are increasingly characterized by the societal demand for compliance with ethical standards. Companies are held responsible for behavior of their employees, which increases the demand for effective internal governance. To assure compliance, many companies...

Health system efficiency is a major target of health policy but its conceptualization and measurement are still a problem in health economics. Because health status is influenced by many factors outside the health system, I argue that measurements of health system efficiency should focus on the...

Social enterprises, located between non‐profit organisations and for‐profit firms, often struggle to acquire external funding. An increasing amount of research on the external financing of social enterprises stems from a fragmented body of the literature anchored in a variety of subject...

Impact investing (II) aims to achieve intentional social impact in addition to financial return. Our systematic literature review of 104 articles finds that the growing academic literature on II is scattered across a variety of disciplines and topics, with inconsistencies in terminology and...