This study addresses endogenous factors related to the strategic planning of corporate social responsibility (CSR). Our findings help explain the paradox: If better CSR always leads to better firm performance, why do so many companies either choose not to engage in CSR or act irresponsibly? Managers may make decisions regarding CSR based on the environment. Some companies may be better served through a proactive CSR strategy; however, others may be unable to achieve better performance through this strategy for a variety of endogenous causes. Our sample included 594 U.S. publicly traded companies with 2,019 firm-year observations. We empirically simulated scenarios where companies selected inappropriate CSR strategies and found that the companies were unable to achieve better firm performance if they did not select appropriate CSR strategies based on their internal and external environment. Practical and theoretical implications are discussed.

This paper studies the relationship between slack and research and development (R&D) investment by addressing the role of the founder as the ‘microfoundation’ among Chinese newly listed firms. We propose a contingent approach to understanding the slack-R&D investment relationship by examining the influence of the founder’s human capital and social ties, which is distinguished into political and managerial ties. Our results show that the founder’s human capital, measured by its educational level, strengthens the relationship between absorbed and unabsorbed slack resources and R&D investment. We also find that the founder’s managerial ties strengthen the relationship between resource slack and R&D intensity, whereas political ties weaken that link. Our results demonstrate the founder’s crucial role in underpinning resource utilization in newly listed firms and emphasise the importance of social ties in driving firms’ R&D activities in emerging economies.

A ubiquitous manufacturing (UM) system is used in manufacturing for obtaining the Internet of things solutions and provides location-based manufacturing services. Human-induced uncertainty and early termination are two complications that hamper the effectiveness of an UM system based on three-dimensional (3D) printing. To resolve these complications, several solutions were considered in this study. First, fuzzy-valued parameters were defined to determine uncertainty. Subsequently, slack was derived to determine whether to restart an early terminated 3D printing process in the same 3D printing facility. Consequently, two optimization models – a fuzzy mixed-integer linear programming model and a fuzzy mixed-integer quadratic programming model – were developed in this study. Based on the two optimization models, a fuzzy 3D printing-based UM system that considers uncertainty and early termination was developed. The effectiveness of the proposed methodology was tested by conducting a regional experiment. The experimental results revealed that the proposed methodology could shorten the average cycle time by 9% and could enable 3D printing facilities to make real-time, online reprinting decisions.

This study investigates how CEO behavior and incentives change during the CEO's final years in office, known as the horizon problem. We examine how the horizon problem alters managerial slack, a measure of operational inefficiency and managerial value diversion. Using data on Chinese publicly traded firms between 2003 and 2011, we find that managerial slack increases in the last two years of CEO tenure compared to earlier years. We also show that the increase in managerial slack in CEO final years in office is smaller in privately controlled firms than in state-owned enterprises, smaller in firms with CEO equity ownership and more independent boards compared to those without. We conclude that higher quality corporate governance mechanisms ameliorate the perverse incentives associated with the CEO horizon problem, and reduce CEOs’ tendency to increase managerial slack during their final years in office.

This paper represents the final publication of excavations by Brian Hartley in the northern annexe of the Roman fort at Slack, West Yorkshire, carried out half a century ago, but still providing rare evidence for activity within an annexe and the nature of its defences. Hartley concluded that the annexe enclosed a civilian vicus of Trajanic–Hadrianic date, although its defensive enclosure was provided only in the Hadrianic period. This report upholds that conclusion. In the light of recent claims of later Roman occupation at Slack, Hartley's conclusion that the site was abandoned by c.a.d. 140 is examined and upheld. It is proposed that a second annexe at Slack enclosed the fort baths (and possibly a mansio) and by examining the Slack annexes in the context of other fort/annexe plans an attempt is made to distinguish between annexes enclosing fort vici and those enclosing official or military activities.