The Impact of Sustainable Development Strategies on Corporate Performance

Enterprises must develop and implement effective strategic measures to achieve sustainable development.This entails evaluating corporate performance,understanding the impact of sustainable development strategies on corporate performance,and implementing such strategies.The article proposes eight critical countermeasures to foster harmony and sustainable development among humanity,nature,the economy,and society:innovation-driven initiatives,green development practices,social responsibility initiatives,talent cultivation programs,collaborative cooperation efforts,sound financial management,brand-building endeavors,and effective information management.

The Capital Iron and Steel Corporation's Fast Development of Exposer Trade

The Capital Iron and Steel Corporation (Shou Gang) is one of the eight major iron and steel companies in China and one of the first state-owned enterprises to be selected as a testing ground for the reform programme, since it was authorized to manage its own foreign trade in 1981, the Corporation’s export trade has expanded steadily. Especially since 1992, its development in foreign trade has skyrocketed because China Shou Gang International Trade Construction Company was approved to be set up. In 1993, it exported 239,700 tons of steel. Its foreign exchange income reached US$630 million, of which the Shou Gang’s self-managed exports took up US$96.98 million. During the

Keep One Step Ahead and Face the Future——Chen Jie,Vice President of ZTE Corporation,Talks About ZTE's NGN Development Strategy

Editor’s Note:In the recent two yearssince ZTE’s NGN prod-uct series were put intomarket,ZTE has maderemarkable achieve-ments in the industry. Al-though a leading vendorin China, ZTE has beencontinuously doing busi- ness in a prudent and practical way,which has been recognized by govern-ment authorities, carriers and customers.In order to learn more about ZTE’s NGNdevelopment strategy,we interviewedChen Jie, ZTE’s vice president and gen-eral manager of Network Division, aboutZTE’s NGN development strategy, R&Dadvantages and progress.

Counteraction to China?Impact of the U.S.International Development Finance Corporation on China’s Development Finance

The United States passed the Better Utilization of Investment Leading to Development(BUILD Act),as a counterweight to China’s overseas development activities.Under the Act,the US established a new federal agency,the U.S.International Development Finance Corporation(DFC),to enhance U.S.development financing capabilities.To better understand the impact of the DFC on China’s development finance,this article analyzes the DFC’s purpose,functions,structure,and funding.Then it focuses on the purpose of establishing the DFC,providing a preliminary analysis of the potential motivation for its establishment.It also compares the China Development Bank(CDB)and the DFC based on their focused sectors.Finally,through an in-depth analysis of financial frictions in China-U.S.relations,this article argues that the DFC competes with China’s overseas development financing activities in the context of broader strategic competition between China and the U.S.

An Analysis of Corporate Headquarters Leadership Promotion Strategies from the Perspective of Organizational Structure

The optimization of organizational structure can promote the scientific development of enterprises and improve the efficiency of the leadership of corporate headquarters.Therefore,in the process of enterprise development,it should constantly play an important role in the organizational structure according to its own actual situation,and strengthen the effectiveness and practicality of strategic deployment in the process of enhancing the leadership of the headquarters,and play a good role in the communication of ideas,information transmission and spiritual implementation of the corporate headquarters.It can be seen that in the process of improving the leadership of corporate headquarters,the idea of corporate headquarters should be optimized and the organizational structure model should be adjusted based on the perspective of organizational structure.Based on the organizational structure,this paper explores the leadership promotion strategy of corporate headquarters,aiming to provide reference for the research of relevant personnel.

Implementation of Corporate Social Responsibility in the Ready-Made Garment Industry of Bangladesh in Order to Achieve Sustainable Development Goals: A Study on Bangladeshi Garment Manufacturers

The Ready-Made Garment (RMG) sector has played the most momentous role for the economic development of Bangladesh. To achieve the culmination, this labor-intensive industry needs to go through sustainable practices with the adoption of Corporate Social Responsibility (CSR) in its garment manufacturing chain. CSR, being a fast-developing phenomenon in industrial arena, is drawing the attention of world-renowned apparel buyers working with Bangladesh. After a few tragic occurrences, for instance, Rana Plaza collapse & Tazreen Fashion fire, the reputation of the RMG sector of Bangladesh has been somewhat blemished. Presently, this scenario is being changed since a considerable number of Bangladeshi garment producers have adopted CSR practices spending a huge sum of money. This study shows the current status of sustainable development through the implementation of CSR practices in the RMG industry of Bangladesh.

A Spatio-Temporal Odyssey Around the Concepts of Sustainable Development and Corporate Social Responsibility： Boundaries to Be Determined？

The aim of this research is to analyze the emergence of the concepts of sustainable development （SD） and corporate social responsibility （CSR） in companies in time and space. A spatio-temporal reading will indicate the most important socio-political and environmental events that have emerged with these two concepts. In order to complete the odyssey, a spatio-temporal analysis has retraced the epistemological evolution of these latter, whilst at the same time remarking the appropriation that has been made by the different institutional and organizational actors. The historical and epistemological reviews tell us that these two concepts, which came into existence almost 80 years, have indefinite outlines; one can be substituted for the other. However, thanks to this odyssey, we have reduced the boundaries even further between sustainable development and social responsibility and shown their theoretic and historical association. The perspective adopted shows that the concept of corporate social responsibility is closely connected to that of sustainable development. This connection means that researchers in management science are faced with more new problem issues reaching further than the simple lack of conceptual consensuses.

Corporate Social Responsibility Projects by Transnational Oil Corporations in Nigerian Niger Delta Region： The Experiences of Selected Oil Producing Communities

A well-known fact about the Nigerian Niger Delta region is incessant conflicts between the oil transnational corporations （Oil TNCs） and the oil producing communities. This could be attributed to the fact that the activities of Oil TNCs have continued to unleash untold devastation on the environment of the oil producing communities and its consequences on the local economy and by extension the total obliteration of the livelihood of the inhabitants of the area. Therefore, the Oil TNCs are increasingly becoming conscious of their devastating impact on the ecology of the area and their blatant disregard for the socio-economic development of the host communities. Consequently, the Oil TNCs have come to embrace the idea of executing Corporate Social Responsibility （CSR） projects as a vehicle to intervene meaningfully in order to mitigate the adverse effect of their operations in host communities. This paper attempts a review and analysis of CSR practices of the two major Oil TNCs in Bayelsa State： Shell and Agip in six host communities： Olugboboro, Olugbobiri, Ikebiri 1, Oporoma, Angiama, and Peremabiri in Southern ljaw local government area. The key question explored in this study is： Has the practice of CSR in the Nigerian Niger Delta region by Oil TNCs brought about socio-economic development and drastic reduction in conflict between the host communities and the Oil TNCs？ The paper argues that CSR projects of transnational oil corporations in Nigeria are driven by short-term expediency rather than the long term development needs of host communities through the provision of poor quality social amenities to these communities in order to secure social license to operate. For transnational oil corporations to make positive impact in the Nigerian Niger Delta Region, their CSR projects should be long tern in nature, taking into consideration the sustainable development needs of the local communities. The CSR projects should be in the form of high quality social amenities and environmental rehabilitation and protection, which could serve the needs of the present and future generations.

Impact of taxes on the 2030 Agenda for Sustainable Development:Evidence from Organization for Economic Cooperation and Development(OECD)countries

Multiple ecological and socioeconomic problems have occurred worldwide,raising the awareness of sustainability.This study aims to examine the impact of taxes on Sustainable Development Goals(SDGs)in the context of Organization for Economic Co-operation and Development(OECD)countries.This research used effective average tax(EAT),tax on personal income(TPI),tax on corporate profits(TCP),and tax on goods and services(TGS)as the variables of taxes,and employed secondary data from 38 OECD countries covering 2000–2021.The study also used Breusch-Pagan Lagrange Multiplier(LM),Pesaran Scaled LM,Bias-Corrected Scaled LM,and Pesaran Cross-sectional dependence(CSD)tests to analyze the existence of crosssectional dependency.Then,we established the stationarity of variables through second-generation panel unit root tests(Cross-sectional Augmented Dickey-Fuller(CADF)and Cross-sectional Im,Pesaran,and Shin(CIPS)),and confirmed the long-run cointegration of the variables by using secondgeneration panel cointegration test(Westerlund cointegration test).The results showed that EAT,TPI,TCP,and TGS are positively associated with SDGs.However,the change in TPI has a smaller effect on SDGs than the change in EAT or TCP or TGS.The result of panel causality indicated that EAT,TPI,and TGS have a unidirectional causal relationship with SDGs.The study also found that TCP has a bi-directional causal relationship with SDGs.Moreover,the finding indicated that the OECD countries need to focus on tax policies to achieve the 2030 Agenda for Sustainable Development.This study is based on the theory of optimal taxation(TOT),which suggests that tax systems should be designed to maximize social welfare.Finally,we suggests the importance of taking a comprehensive approach for the managers and policy-makers when analyzing the impact of taxes on SDGs.

Analyses on Research Status of CSR in the World

Based on the web of Science database, such as the countries, research institutes, core authors, key journals and the distribution of research fields, the number of corporate social responsibility（CSR）, articles published during 20 years （1994 to 2013 ） in the world were analyzed by bibliometric method. The total of 1,544 articles and their top 20 countries, research institutes, core authors, key journals and research fields for the literature types, the number of annual articles was retrieved globally. Analyses of status and trends of CSR researches in the world based on bibliometrics were performed for providing information to CSR researchers and decision makers.

Alternative measure of financial development and investment-cash flow sensitivity:evidence from an emerging economy

This study examines the impact of financial development on corporate investment in terms of their influence on financing constraints.This study also tries to find the effect of financial development on the investment-cash flow sensitivity across the size,degree of financial constraints and group affiliation of the firm.This study employs dynamic panel data model or more specifically system generalized method of moments(GMM)estimation technique.The estimation results reveal that cash flow affects the investment decision of the company positively,which implies that Indian firms are financially constrained.Also,we observe that financial development reduces the investment-cash flow sensitivity and the effect of financial development is more prominent for small size and standalone firms.The results are robust across the period and,for both financially constrained and unconstrained firms.This study contributes to the existing literature by analyzing the impact of financial development on the role of cash flow in determining investments undertaken by the Indian firms,which is an unexplored issue from an emerging market perspective.

The Impact of Corporate Governance and Ethics on Microfinance Institutions (MFIs)—The Case for Microfinance Institutions (MFIs) in Masvingo, Zimbabwe, 2009-2019

The paper presents and examines the impact of corporate governance and ethics in particular on sustainable development of the Zimbabwean microfinance sector in the period 2009-2019.The critical microfinance institutions(MFIs)crisis experienced in Masvingo,Zimbabwe recently was not the first one in the world in terms of its severity.The main aim of MFIs in any economy is to serve the poor and vulnerable people of a society through providing them with soft or concessional loans,insurance coverage,and facilities for savings.The study used the descriptive qualitative design to draw research data from MFIs dotted in and around Masvingo Province for presentation,analysis,and interpretation.One of the major findings of the study was that corporate governance and ethics played an indispensable role in the growth and development of MFIs’products and services.The study also realized that good corporate governance and ethical behaviours in business practices were essential for the success of any organization and vice versa and MFIs were no exception.The study therefore concluded that poor capital formation,corporate governance and ethics,human recruitment and selection procedures and fraudulent activities or misappropriation of funds were responsible for the majority of threats faced by MFIs in Masvingo in their growth and development endeavours.Therefore the study recommended that directors of MFIs should craft policies and strategies that are corporate governance and ethics oriented in their desire to grow their business towards sustainable development in the foreseeable future.

A Case Study of Business Borderless Development in Internet Age

A firm may expand in two ways： by tangible expansion through an increase in the scale of the physical company, or by intangible expansion, an optimization process drawing on both the firm＇s physical entity as well as virtual resources, producing borderless growth. We take a case study approach to explore borderless development at business, managerial, and operational levels and to study four facilitators of borderless development： information technology, the virtual world, virtual operations, and concentration on core business. We conclude that firms may achieve global dominance in their area of core competency through borderless development.

The Spiritual Principles of Restorative Justice and the Efficiency Principles of Modern Capitalism:A Path Towards Reconciliation?

Restorative justice represents a paradigm shift away from a retributive approach to justice to one of restoration as a way of healing the harms to individuals and communities that have been affected by crime.It works from a recognition and acceptance of the interrelationships and interdependencies of individuals within a community.Sustainable development operates from the same point of view,recognizing that to heal and sustain the physical environment,interrelationships and interdependencies must be recognized.In the restorative process,in order for a healing to take place the victim’s voice is made prominent and the offender must take responsibility and be accountable for the harm that has occurred.In the context of more and more acceptance by corporations of the importance of sustainability,and by inference the acceptance of the paradigm shift that sustainability relies on,will corporations become ready to participate in restorative processes?

Do Bilateral Investment Treaties Attract Foreign Direct Investment to Developing Countries？ A Review of the Empirical Literature

States have signed over 3,000 bilateral investment treaties （BITs）. BITs stipulate the terms and conditions by which foreign investors from one country must be treated in another. A series of empirical studies have asked the question, do BITs increase foreign direct investment to less developed countries？ This paper reviews the literature. While the studies come to conflicting results, most studies suffer from the same methodological misstep--they fail to account for variation in treaties. The paper concludes that the most productive path forward for future research efforts includes using dyadic research designs that account for variation in BITs.

Corporate Social Responsibility——From the Perspective of Polish Enterprises

Corporate social responsibility （CSR） is becoming more and more frequently emphasized part of management in the structure of Polish enterprises. These results from the fact that growing awareness of consumers, destructive impact of industry on the natural environment, economic scandals, unethical behavior among entrepreneurs, bring about redefining the principles of a business activity on the market by entrepreneurs. As a result of the above, such values as honesty, trust, or responsibility take on greater importance. Additionally, more and more often, Polish entrepreneurs pay attention to the influence of the company on the environment, the way the stakeholders are treated, while striving to maximize profit. The present paper looks into the subject of social responsibility from the point of view of Polish enterprises. To verify this objective, there was the analysis of the due literature performed, and also carried out the survey among 174 entrepreneurs running their business activity in the area of Southern Poland. The research tool used in the research was the questionnaire （PAPI and CAWI）. In the conducted research, there were factors analyzed referring to knowledge of social responsibility among the people holding both managerial and lower-level positions, in particular opinion, is it important for enterprises to be driven by ethical standards？ How to implement CSR in their structures？ How to understood concept of CSR？ What are the reasons for the implementation of CSR in the strategy of the company？ The considerations （both the theoretical and practical ones） confirmed that the Polish enterprises feel the increased need to implement the activities in the field of social responsibility, which, in the present conditions, constitutes an important part of running a business activity.

Deepening China's Investment System Reform——The State Development Investment Corporation

The Chinese government set up the State Development Bank against the background of the Chinese economic system being transformed from planned to market. In May 1995, the State Development Investment Corporation was established. Does this mean that China’s investment system reform is advancing at a much

Modelling of Corporate Exposure at Default(EAD)in Emerging Financial Markets:The Case for Counters Listed on the Zimbabwe Stock Exchange(ZSE)in the Dollarization Era

This study explores the Exposure at Default(EAD)emanating from credit events undertaken by listed banking corporations trading on emerging markets,such as Zimbabwe’s Stock Exchange(ZSE)or market in the dollarization era,namely period 2010-2012.The dollarization of the Zimbabwean economy in 2009 coincided with the recovery of the global financial economy from the worst worldwide economic recession ever experienced in this world.The study used audited and published data drawn from financial statements of two banking corporations for the period 2010 to 2012 that were accessible on ZSE website.These data were presented and analyzed using Eviews7.The study revealed that there were a lot of non-performing loans drawn from EADs of banking corporations trading on the ZSE in the period under review.The study further noted that credit exposures issued by commercial banks in the period 2010-2012 were also exposed to risk from the nature of the borrowers,banks’internal and external market variables.The variables that impacted on banks’credit exposures include political,social,industrial,unemployment,technological challenges,state of financial markets,their capitalization and liquidity statuses.We therefore conclude that banks in emerging markets need to efficiently and effectively manage their credit portfolios in their desire to grow towards sustainable development.The study also concludes that banks in emerging markets that are into lending activities should adopt and implement financial econometric(EAD)models that are easy to apply,practical,pragmatic,and adjusted for market friction.The study recommends that listed banking corporations in emerging markets need to adhere to the requirements of the Basel Ⅱ and Ⅲ Capital Accords if they are to make meaningful business out of their credit exposure operations.It also recommends that banks should come up with capitalization and investment strategies that suit their economic conditions if they are to grow and develop sizeable market shares and wealth from their lending businesses.Finally the study recommends that banks in emerging economies should adapt to international business standards,strategies,ethics,and corporate governance parameters if they are to grow towards greater similarity with those in developed nations in their service delivery to the stakeholders and contribution to nation building and sustainable development.

Building the Three Gorges Project for the Chinese Nation—An Interview with General Manager Lu Youmei, China Yangtze River Three Gorges Project Development Corporation

The Yangtze River has nurtured the fertile land on both its banks and hundreds of millions of Chinese people. but its raging waters have also wreaked havoc on the people living in its reaches. Since the founding of New China, large-scale surveys, planning, scientific research and feasibility studies have been carried out in an effort to harness the