Lyudmyla Khromushyna
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Does external assurance on CSR reporting contribute to its higher quality? Empirical evidence from China
Oleh Pasko , Li Zhang , Kostiantyn Bezverkhyi , Dmytro Nikytenko , Lyudmyla Khromushyna doi: http://dx.doi.org/10.21511/imfi.18(4).2021.26Investment Management and Financial Innovations Volume 18, 2021 Issue #4 pp. 309-325
Views: 954 Downloads: 564 TO CITE АНОТАЦІЯThis paper examines the difference that the assurance brings to the quality of CSR reports in the Chinese institutional setting, in particular, the difference in quality (proxy – RKS ranking) of assured and unassured CSR reports, as well as whether the high ownership concentration and corresponding to it “entrenchment effect” obstruct the positive impact the assurance exerts on the quality of CSR reports. The paper examines CSR reports on 2,292 firm-year observations of large Chinese companies over three years (2015–2018). The hypothesis development process predicates on the signaling and stakeholder theories, whilst this study applies regression analysis to test the hypotheses.
Consistent with the predictions of signaling and stakeholder theories, the paper finds that assurance contributes to the higher quality of CSR reports. Moreover, the study finds that assured CSR reports have higher sub-scores in all four aspects of RKS ranking. However, as ownership concentration exceeds 50 per cent and reaches the majority, it thwarts the advancement in the quality of CSR reports through its assurance.
The paper provides an initial empirical account of the role of assurance in the emerging CSR reporting practice in China. The paper contributes to the modest body of empirical research on the function of external assurance in the CSR area by explicating the role played both by the accounting (external assurance) and corporate governance (ownership concentration) infrastructure to ensure high quality of CSR reporting. The paper briefs local, international regulatory authorities and the business community about the importance of external assurance for the CSR reporting quality. -
Formation of strategic management of hemp cultivation in a developing country: A case of Ukraine
Liubov Mykhailova , Andrii Mykhailov , Liudmyla Korenivska , Lyudmyla Khromushyna , Marharyta Chuprina doi: http://dx.doi.org/10.21511/ppm.19(2).2021.01Problems and Perspectives in Management Volume 19, 2021 Issue #2 pp. 1-13
Views: 1118 Downloads: 827 TO CITE АНОТАЦІЯAfter a long period of decline and persecution, there is a revival and rapid development of the cannabis industry around the world: the use of this unique crop is expanding rapidly, and finally, it was transferred from a narcotic to an agricultural one (except for Ukraine). Nowadays, the Ukrainian hemp industry has practically gone unnoticed by the state, scientists, practitioners and society. At the same time, it has development prospects and can play a significant role for rural areas and the national economy. The paperis aimed at exploring the possibilities of growing hemp (Cannabis sativa L.) and justifying the need for strategic management of the development of the cannabis industry in Ukraine. Based on the analysis of hemp production, it is established that during the years of Ukraine’s independence, the area of hemp crops has decreased almost 8 times; the number of producers is limited; hemp processing plants do not function; the yield of technical hemp seeds has a slight tendency to increase andapproximates 6-7 kg/ha. The prospects for cannabis cultivation require building strategic management of the cannabis industry to address key issues and mitigate threats. The key elements of the production development strategy are identified as improving institutional and financial support at the state level. The main guidelines of strategic management of hemp cultivation are: simplification of regulation for producers; intensification of agribusiness entities; increasing production volumes; and improving the competitive environment in the hemp market. It is proved that the strategic development of the hemp industry requires developing hemp processing enterprises; disseminating knowledge among the population about the usefulness and benefits of this multi-purpose culture. To substantiate the effectiveness of strategic decisions, the algorithm was proposed for assessing the effectiveness of growing different types of hemp products by different technologies, which is carried out using economic and mathematical modeling.
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