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Green Marketing, Green Finance and Sustainable Development
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Green Marketing, Green Finance and Sustainable Development

A special issue of Journal of Risk and Financial Management (ISSN 1911-8074). This special issue belongs to the section "Sustainability and Finance".

Deadline for manuscript submissions: closed (31 December 2022) | Viewed by 33176

Special Issue Editors

Dr. Robert Jeyakumar Nathan

E-Mail Website
Guest Editor
Academic Innovation and Product Intelligence, Centre for Lifelong Education and Learning Innovation (LEARN), Multimedia University, 63100 Cyberjaya, Malaysia
Interests: digital business; green marketing; sustainability; innovation; design thinking
Prof. Dr. Zoltán Zéman

E-Mail Website
Guest Editor
Institute of Business Regulation and Information Management, Hungarian University of Agricultural and Life Sciences, H-2100 Gödöllő, Hungary
Interests: business and management
Special Issues, Collections and Topics in MDPI journals
Prof. Dr. Maria Fekete-Farkas

E-Mail Website
Guest Editor
Institute of Economic Sciences, Hungarian University of Agricultural and Life Sciences, H-2100 Gödöllő, Hungary
Interests: sustainable development; natural resource management; productivity; economic and social effects of climate change; consumer behavior; Industry 4.0; social capital; relationship management; market structure; pricing; renewable energy; economic and social
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

This special issue of Green Marketing and Sustainable Development is multidisciplinary and interdisciplinary in content and methodology. We invite contents that investigate contemporary issues in green marketing theory and practice towards organizational sustainable development agenda, contributing towards both financial and non-financial performances. The specific areas of this special issue are as below but not limited to these:

  • The relationship between green finance and belt technologies;
  • The relationship between digital marketing and green finance;
  • The role of digitization (internal information systems) in the relationship between sustainable finance and marketing;
  • Green investment and impact towards sustainable development;
  • Motivations to invest in Green Marketing and finance for the circular economy agenda;
  • Green marketing in relation to the United Nation’s Sustainable Development Goals, particularly Goal 8 (Decent work and economic Growth), Goal 11 (Sustainable cities and communities) and Goal 12 (Responsible consumption and production);
  • Role of Microfinance in empowering vulnerable sectors or small industries, such as women start-ups.
  • Role of ICT and Mobile Technologies for Sustainable Development

Dr. Robert Jeyakumar Nathan
Prof. Dr. Zoltán Zéman
Prof. Dr. Maria Fekete Farkas
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Journal of Risk and Financial Management is an international peer-reviewed open access monthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1400 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • Green Marketing
  • Green Finance
  • Sustainable Development Goals
  • Sustainable Finance
  • Finance and Environment
  • Ethical Finance
  • Finance to address Inequality 
  • Corporate Social Responsibility
  • Behavioural Finance for Sustainability
  • Decent Work and Economic Growth
  • Sustainable Cities and Communities
  • Responsible consumption and production
  • Microfinance
  • Mobile ICT

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Further information on MDPI's Special Issue polices can be found here.

Published Papers (7 papers)

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Research

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19 pages, 825 KiB  
Article
Consumer Segmentation of Green Financial Products Based on Sociodemographic Characteristics
by Sándor Gáspár, László Pataki, Ákos Barta, Gergő Thalmeiner and Zoltán Zéman
J. Risk Financial Manag. 2023, 16(2), 98; https://doi.org/10.3390/jrfm16020098 - 6 Feb 2023
Cited by 4 | Viewed by 2867
Abstract
Many green financial products currently have a low financial return level; even so, these products are spreading dynamically. In our study, we explored Hungarian green financial investment preferences and separated consumers of green financial products into homogeneous groups, which were characterized on the [...] Read more.
Many green financial products currently have a low financial return level; even so, these products are spreading dynamically. In our study, we explored Hungarian green financial investment preferences and separated consumers of green financial products into homogeneous groups, which were characterized on the basis of sociodemographic characteristics. In the case of investments with a similar risk, using the sample we examined we proved that there is a homogenous group (C2) in Hungary which prefers green aspects to higher financial returns in the course of its investment decisions. We separated a group (C3) which can be considered influenceable, and we concluded that, with the application of appropriate marketing activities, this group could be a potential target consumers for national banks and traders of green financial products in the future. Young females are the main target consumers for green financial products in Hungary, and they are the largest majority of the C2 group, for whom financial rationality takes a backseat to green aspects. Based on the results of our study, national banks and traders of financial products can create a more accurate and effective marketing strategy for their products on the Hungarian market. Full article
(This article belongs to the Special Issue Green Marketing, Green Finance and Sustainable Development)
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19 pages, 626 KiB  
Article
The Impact of Organizational Culture on the Effectiveness of Corporate Governance to Control Earnings Management
by José Ignacio Jarne-Jarne, Susana Callao-Gastón, Miguel Marco-Fondevila and Fernando Llena-Macarulla
J. Risk Financial Manag. 2022, 15(9), 379; https://doi.org/10.3390/jrfm15090379 - 25 Aug 2022
Cited by 4 | Viewed by 3757
Abstract
The relationship between culture, earnings management and corporate governance has been studied in different ways, but the influence that culture has over the actual effectiveness of corporate governance to control earnings management has not, even though it should be a determinant factor to [...] Read more.
The relationship between culture, earnings management and corporate governance has been studied in different ways, but the influence that culture has over the actual effectiveness of corporate governance to control earnings management has not, even though it should be a determinant factor to define successful governance schemes. Using Hofstede four organizational models as a framework, in this paper, we analyze a sample of companies listed in 16 different stock markets in terms of organizational culture, assessing their governance standards and performance in relation to earnings management, and measuring their actual effectiveness. The results confirm that earnings management is conditioned by organizational culture and that corporate governance acts as a brake on earnings management, regardless of the cultural field in which it is analyzed. However, its effectiveness depends on organizational culture, mostly on the uncertainty avoidance and the power distance. Therefore, modelling a country based on its organizational culture does limit the success of corporate governance policies and standards. This study brings in a new perspective for policy makers and practitioners to design and enforce their corporate governance policies targeting earnings management, according to the prevailing culture. The previous literature on the subject is complemented and enriched by this significant contribution, through which limitations in terms of the number of countries studied could be overcome by further studies addressing specific regions or sectors. Full article
(This article belongs to the Special Issue Green Marketing, Green Finance and Sustainable Development)
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18 pages, 468 KiB  
Article
Developing an Impact-Focused Typology of Socially Responsible Fund Providers
by Joel Diener and André Habisch
J. Risk Financial Manag. 2022, 15(7), 298; https://doi.org/10.3390/jrfm15070298 - 5 Jul 2022
Cited by 4 | Viewed by 2399
Abstract
The concept of investor impact of socially responsible investments is relatively new. Our article expands knowledge in this field by analyzing how investor impact is implemented in the ethical investment policies of 45 providers of publicly traded, socially responsible funds. Based on a [...] Read more.
The concept of investor impact of socially responsible investments is relatively new. Our article expands knowledge in this field by analyzing how investor impact is implemented in the ethical investment policies of 45 providers of publicly traded, socially responsible funds. Based on a typological content analysis, we first develop an impact-focused category system, which in the second step is used to distinguish three types of fund providers: ESG hermits, ESG ambassadors and ESG evangelists. Our results suggest that socially responsible fund providers with a stronger impact orientation, such as ESG evangelists, also employ strategies that are more likely to achieve investor impact. In contrast, fund providers with a weaker impact orientation, such as ESG hermits, focus more on purity aspects and therefore tend to utilize strategies that defend the purity claim but also show a weaker investor impact. Full article
(This article belongs to the Special Issue Green Marketing, Green Finance and Sustainable Development)
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23 pages, 1730 KiB  
Article
Firm Sustainable Development Goals and Firm Financial Performance through the Lens of Green Innovation Practices and Reporting: A Proactive Approach
by Parvez Alam Khan, Satirenjit Kaur Johl and Shakeb Akhtar
J. Risk Financial Manag. 2021, 14(12), 605; https://doi.org/10.3390/jrfm14120605 - 15 Dec 2021
Cited by 48 | Viewed by 9128
Abstract
The current global economy demands synergy between ecological responsiveness and proactive business models. To analyze these dynamics, the objective of this study is to simultaneously investigate the effects of green innovation practices concerning the sustainable development goals (SDG) and financial performance of firms. [...] Read more.
The current global economy demands synergy between ecological responsiveness and proactive business models. To analyze these dynamics, the objective of this study is to simultaneously investigate the effects of green innovation practices concerning the sustainable development goals (SDG) and financial performance of firms. This study also advocates for the injection of green innovation reporting into sustainable reporting for greater disclosure. Data from sixty-seven companies from five continents and the top five blue chip firms for each country are collected through content analysis, with the generalized least squares (GLS) approach used to test a causal relationship hypothesis. The results indicate mixed findings, with green product innovation showing positive relationships with returns on equity (ROE) and returns on investments (ROI). At the same time, green process innovation shows negative relationships with returns on assets (ROA) but shows a positive impact on returns on investments (ROI) and firm SDGs. In contrast, green service innovation shows an insignificant relationship with financial performance and SDGs. On the other hand, non-operational green innovation variables and green marketing positively affect returns on assets and investment, showing significant negative impacts on returns on equity. However, green organizational innovation shows an insignificant relationship with firm financial performance and SDGs. In addition, this study also shows that the Australia/New Zealand region is the leader in green innovation reporting, followed by Europe, Asia, Africa, and lastly, North America. Full article
(This article belongs to the Special Issue Green Marketing, Green Finance and Sustainable Development)
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15 pages, 771 KiB  
Article
Impact of Improved Corporate Governance and Regulations on Earnings Management Practices—Analysis of 7 Industries from the Indian National Stock Exchange
by Jose Joy Thoppan, Robert Jeyakumar Nathan and Vijay Victor
J. Risk Financial Manag. 2021, 14(10), 454; https://doi.org/10.3390/jrfm14100454 - 22 Sep 2021
Cited by 2 | Viewed by 3143
Abstract
This study investigates discretionary earnings management practices, tracing the changes over the years in selected top performing and highly liquid listed Indian firms. It empirically measures the impact of corporate governance, financial legislation and global reporting standards on the firms’ earnings management practices. [...] Read more.
This study investigates discretionary earnings management practices, tracing the changes over the years in selected top performing and highly liquid listed Indian firms. It empirically measures the impact of corporate governance, financial legislation and global reporting standards on the firms’ earnings management practices. The study analyses a sample of 712 firm-year data comprising 89 listed Indian companies across 7 different sectoral indices of the National Stock Exchange of India (NSE) over 8 years (2011–2018). The Modified Jones model was used to compute Discretionary Accruals to measure Earnings Management based on data obtained using Bloomberg terminals. Statistical results and plots generated in Stata offer evidence that instances of earnings management have significantly reduced after the enactment of the Companies Act 2013 and the adoption of Indian Accounting standards which are converged with the IFRS. Findings suggest that services firms are engaging in relatively higher levels of earnings management compared to manufacturing firms. This study reveals the positive impact of improved corporate governance, regulation, and enforcement by significantly reducing the levels of earnings management among listed firms in India. Full article
(This article belongs to the Special Issue Green Marketing, Green Finance and Sustainable Development)
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14 pages, 789 KiB  
Article
The Development of a Small and Medium-Sized Business Risk Management Intervention Tool
by Niël Almero Krüger and Natanya Meyer
J. Risk Financial Manag. 2021, 14(7), 310; https://doi.org/10.3390/jrfm14070310 - 7 Jul 2021
Cited by 10 | Viewed by 7146
Abstract
Risk is inevitable in business. For large companies, risk management is formalised and structured through compliance with industry standards. However, small and medium-sized businesses (SMEs) rarely have adequate resources to develop their own standards or conform to pre-established criteria. This results in an [...] Read more.
Risk is inevitable in business. For large companies, risk management is formalised and structured through compliance with industry standards. However, small and medium-sized businesses (SMEs) rarely have adequate resources to develop their own standards or conform to pre-established criteria. This results in an increased vulnerability to risk, which tends to undermine SMEs’ sustainability. The primary reasons for the low adoption rate of risk management are related to the tremendous initial difficulty in orientating the business concerning risk and the significant investment of the workforce in developing and implementing a structured managerial process. The objective of this paper is to produce a guided process tool for small and medium-sized businesses with which they can identify, evaluate, and appropriately address risks from an SME perspective. Moreover, this intervention would offer enhancements at no cost beyond the time of its implementation. In order to identify what constitutes holistic risk management, document analysis was applied, which utilised risk management standards, academic articles, books, and regulatory policy and strategy documentation. The identified elements were integrated with a tool that improves business owners’ capacity to position themselves in context with their daily risk management challenges. Full article
(This article belongs to the Special Issue Green Marketing, Green Finance and Sustainable Development)
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17 pages, 2734 KiB  
Review
Developing Novel Technique for Investigating Guidelines and Frameworks: A Text Mining Comparison between International and Japanese Green Bonds
by Kentaka Aruga, Md. Monirul Islam, Yoshihiro Zenno and Arifa Jannat
J. Risk Financial Manag. 2022, 15(9), 382; https://doi.org/10.3390/jrfm15090382 - 26 Aug 2022
Cited by 3 | Viewed by 2360
Abstract
In most cases, the official documents related to guidelines and frameworks are complicated, long, and hard to understand for general readers, regardless of whether the government and financial companies follow international standards or not. In this context, the current study examines how the [...] Read more.
In most cases, the official documents related to guidelines and frameworks are complicated, long, and hard to understand for general readers, regardless of whether the government and financial companies follow international standards or not. In this context, the current study examines how the green bond (GB) guidelines created by the Japanese government are aligned with the Green Bond Principles (GBP) and Climate Bonds Standard (CBS) through a text mining technique. It also investigates whether the GB frameworks for the Japanese public and private companies follow the GB guidelines of the Japanese government. While the CBS is the guideline that focuses on climate bonds, the GBP specializes in GB whose scope is broader. The word frequency and word cloud analyses identify that the documents created by the Japanese government and companies have more similarities with the GBP, indicating that the Japanese GB guidelines and frameworks are more aligned with the GBP than the CBS. A pairwise word network matrix analysis also reveals that the Japanese GB guidelines and frameworks are more focused on broader environmental issues and sustainability than the CBS, which had more similarities with the GBP than the CBS. Full article
(This article belongs to the Special Issue Green Marketing, Green Finance and Sustainable Development)
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