Progress Toward Business Sustainability in Asia in the Aftermath of 2015 Hong Kong Stock Exchange Requirements

Zabihollah Rezaee; Kevin Zhen; Michael Ha

doi:doi:10.11648/j.ijsmit.20170304.12

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Progress Toward Business Sustainability in Asia in the Aftermath of 2015 Hong Kong Stock Exchange Requirements

Zabihollah Rezaee, Kevin Zhen, Michael Ha

Published in International Journal of Sustainability Management and Information Technologies (Volume 3, Issue 4)

Received: 20 September 2017 Accepted: 20 October 2017 Published: 10 November 2017

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Abstract

This paper examines the progress toward business sustainability in Asia in recent years. There are five dimensions of sustainability performance: Economic, Governance, Social, Ethical, and Environmental (EGSEE) and they collectively play an important role in the overall long-term success of business organizations. The role of business corporations in our society has evolved from profit maximization to creating shareholder value and in recent years to create shared value to protect interests of all stakeholders including investors, creditors, employees, customers, suppliers, government, the environment, and society. In today’s business environment, global businesses are under close scrutiny and profound pressure from lawmakers, regulators, the investment community, and their various stakeholders to focus on sustainability measures and accept accountability and responsibility for the five EGSEE dimensions of their performance. Corporate performance is measured not only by the economic sustainability performance but also by a set of non-financial sustainability key performance indicators pertaining to environmental, social, governance, and ethical activities. In this paper, we investigate opportunities and challenges in implementing business sustainability in Asia and the progress toward integrated sustainability performance reporting and assurance. We conclude that much progress has been made in promoting business sustainability performance, reporting and assurance in Asia in recent years. However, much more needs to done in integrating business sustainability performance into business culture and corporate models in Asia. Integrated sustainability reporting and assurance also should be standardized in effectively, consistently, accurately, and reliably communicating all five dimensions of sustainability performance to all stakeholders.

Published in	International Journal of Sustainability Management and Information Technologies (Volume 3, Issue 4)
DOI	10.11648/j.ijsmit.20170304.12
Page(s)	40-45
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2017. Published by Science Publishing Group

Keywords

Governance, Environmental, Sustainability, Assurance, Reporting

References

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[6]	Rezaee, Z. 2015. Business sustainability: Performance, Compliance, Accountability and Integrated Reporting. Greenleaf Publishing Limited, October 2015.
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APA Style

Zabihollah Rezaee, Kevin Zhen, Michael Ha. (2017). Progress Toward Business Sustainability in Asia in the Aftermath of 2015 Hong Kong Stock Exchange Requirements. International Journal of Sustainability Management and Information Technologies, 3(4), 40-45. https://doi.org/10.11648/j.ijsmit.20170304.12

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ACS Style

Zabihollah Rezaee; Kevin Zhen; Michael Ha. Progress Toward Business Sustainability in Asia in the Aftermath of 2015 Hong Kong Stock Exchange Requirements. Int. J. Sustain. Manag. Inf. Technol. 2017, 3(4), 40-45. doi: 10.11648/j.ijsmit.20170304.12

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AMA Style

Zabihollah Rezaee, Kevin Zhen, Michael Ha. Progress Toward Business Sustainability in Asia in the Aftermath of 2015 Hong Kong Stock Exchange Requirements. Int J Sustain Manag Inf Technol. 2017;3(4):40-45. doi: 10.11648/j.ijsmit.20170304.12

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@article{10.11648/j.ijsmit.20170304.12,
  author = {Zabihollah Rezaee and Kevin Zhen and Michael Ha},
  title = {Progress Toward Business Sustainability in Asia in the Aftermath of 2015 Hong Kong Stock Exchange Requirements},
  journal = {International Journal of Sustainability Management and Information Technologies},
  volume = {3},
  number = {4},
  pages = {40-45},
  doi = {10.11648/j.ijsmit.20170304.12},
  url = {https://doi.org/10.11648/j.ijsmit.20170304.12},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijsmit.20170304.12},
  abstract = {This paper examines the progress toward business sustainability in Asia in recent years. There are five dimensions of sustainability performance: Economic, Governance, Social, Ethical, and Environmental (EGSEE) and they collectively play an important role in the overall long-term success of business organizations. The role of business corporations in our society has evolved from profit maximization to creating shareholder value and in recent years to create shared value to protect interests of all stakeholders including investors, creditors, employees, customers, suppliers, government, the environment, and society. In today’s business environment, global businesses are under close scrutiny and profound pressure from lawmakers, regulators, the investment community, and their various stakeholders to focus on sustainability measures and accept accountability and responsibility for the five EGSEE dimensions of their performance. Corporate performance is measured not only by the economic sustainability performance but also by a set of non-financial sustainability key performance indicators pertaining to environmental, social, governance, and ethical activities. In this paper, we investigate opportunities and challenges in implementing business sustainability in Asia and the progress toward integrated sustainability performance reporting and assurance. We conclude that much progress has been made in promoting business sustainability performance, reporting and assurance in Asia in recent years. However, much more needs to done in integrating business sustainability performance into business culture and corporate models in Asia. Integrated sustainability reporting and assurance also should be standardized in effectively, consistently, accurately, and reliably communicating all five dimensions of sustainability performance to all stakeholders.},
 year = {2017}
}

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TY  - JOUR
T1  - Progress Toward Business Sustainability in Asia in the Aftermath of 2015 Hong Kong Stock Exchange Requirements
AU  - Zabihollah Rezaee
AU  - Kevin Zhen
AU  - Michael Ha
Y1  - 2017/11/10
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DO  - 10.11648/j.ijsmit.20170304.12
T2  - International Journal of Sustainability Management and Information Technologies
JF  - International Journal of Sustainability Management and Information Technologies
JO  - International Journal of Sustainability Management and Information Technologies
SP  - 40
EP  - 45
PB  - Science Publishing Group
SN  - 2575-5110
UR  - https://doi.org/10.11648/j.ijsmit.20170304.12
AB  - This paper examines the progress toward business sustainability in Asia in recent years. There are five dimensions of sustainability performance: Economic, Governance, Social, Ethical, and Environmental (EGSEE) and they collectively play an important role in the overall long-term success of business organizations. The role of business corporations in our society has evolved from profit maximization to creating shareholder value and in recent years to create shared value to protect interests of all stakeholders including investors, creditors, employees, customers, suppliers, government, the environment, and society. In today’s business environment, global businesses are under close scrutiny and profound pressure from lawmakers, regulators, the investment community, and their various stakeholders to focus on sustainability measures and accept accountability and responsibility for the five EGSEE dimensions of their performance. Corporate performance is measured not only by the economic sustainability performance but also by a set of non-financial sustainability key performance indicators pertaining to environmental, social, governance, and ethical activities. In this paper, we investigate opportunities and challenges in implementing business sustainability in Asia and the progress toward integrated sustainability performance reporting and assurance. We conclude that much progress has been made in promoting business sustainability performance, reporting and assurance in Asia in recent years. However, much more needs to done in integrating business sustainability performance into business culture and corporate models in Asia. Integrated sustainability reporting and assurance also should be standardized in effectively, consistently, accurately, and reliably communicating all five dimensions of sustainability performance to all stakeholders.
VL  - 3
IS  - 4
ER  -

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Author Information

Zabihollah Rezaee

School of Accountancy, Fogelman College of Business and Economics, The University of Memphis, TN, USA
Kevin Zhen

Sino-US College, Beijing Institute of Technology, Zhuhai, China
Michael Ha

Department of Computer Science & Technology, Sino-US College, Beijing Institute of Technology, Zhuhai, China

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Plain Text BibTeX RIS

APA Style

Zabihollah Rezaee, Kevin Zhen, Michael Ha. (2017). Progress Toward Business Sustainability in Asia in the Aftermath of 2015 Hong Kong Stock Exchange Requirements. International Journal of Sustainability Management and Information Technologies, 3(4), 40-45. https://doi.org/10.11648/j.ijsmit.20170304.12

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ACS Style

Zabihollah Rezaee; Kevin Zhen; Michael Ha. Progress Toward Business Sustainability in Asia in the Aftermath of 2015 Hong Kong Stock Exchange Requirements. Int. J. Sustain. Manag. Inf. Technol. 2017, 3(4), 40-45. doi: 10.11648/j.ijsmit.20170304.12

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AMA Style

Zabihollah Rezaee, Kevin Zhen, Michael Ha. Progress Toward Business Sustainability in Asia in the Aftermath of 2015 Hong Kong Stock Exchange Requirements. Int J Sustain Manag Inf Technol. 2017;3(4):40-45. doi: 10.11648/j.ijsmit.20170304.12

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@article{10.11648/j.ijsmit.20170304.12,
  author = {Zabihollah Rezaee and Kevin Zhen and Michael Ha},
  title = {Progress Toward Business Sustainability in Asia in the Aftermath of 2015 Hong Kong Stock Exchange Requirements},
  journal = {International Journal of Sustainability Management and Information Technologies},
  volume = {3},
  number = {4},
  pages = {40-45},
  doi = {10.11648/j.ijsmit.20170304.12},
  url = {https://doi.org/10.11648/j.ijsmit.20170304.12},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijsmit.20170304.12},
  abstract = {This paper examines the progress toward business sustainability in Asia in recent years. There are five dimensions of sustainability performance: Economic, Governance, Social, Ethical, and Environmental (EGSEE) and they collectively play an important role in the overall long-term success of business organizations. The role of business corporations in our society has evolved from profit maximization to creating shareholder value and in recent years to create shared value to protect interests of all stakeholders including investors, creditors, employees, customers, suppliers, government, the environment, and society. In today’s business environment, global businesses are under close scrutiny and profound pressure from lawmakers, regulators, the investment community, and their various stakeholders to focus on sustainability measures and accept accountability and responsibility for the five EGSEE dimensions of their performance. Corporate performance is measured not only by the economic sustainability performance but also by a set of non-financial sustainability key performance indicators pertaining to environmental, social, governance, and ethical activities. In this paper, we investigate opportunities and challenges in implementing business sustainability in Asia and the progress toward integrated sustainability performance reporting and assurance. We conclude that much progress has been made in promoting business sustainability performance, reporting and assurance in Asia in recent years. However, much more needs to done in integrating business sustainability performance into business culture and corporate models in Asia. Integrated sustainability reporting and assurance also should be standardized in effectively, consistently, accurately, and reliably communicating all five dimensions of sustainability performance to all stakeholders.},
 year = {2017}
}

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TY  - JOUR
T1  - Progress Toward Business Sustainability in Asia in the Aftermath of 2015 Hong Kong Stock Exchange Requirements
AU  - Zabihollah Rezaee
AU  - Kevin Zhen
AU  - Michael Ha
Y1  - 2017/11/10
PY  - 2017
N1  - https://doi.org/10.11648/j.ijsmit.20170304.12
DO  - 10.11648/j.ijsmit.20170304.12
T2  - International Journal of Sustainability Management and Information Technologies
JF  - International Journal of Sustainability Management and Information Technologies
JO  - International Journal of Sustainability Management and Information Technologies
SP  - 40
EP  - 45
PB  - Science Publishing Group
SN  - 2575-5110
UR  - https://doi.org/10.11648/j.ijsmit.20170304.12
AB  - This paper examines the progress toward business sustainability in Asia in recent years. There are five dimensions of sustainability performance: Economic, Governance, Social, Ethical, and Environmental (EGSEE) and they collectively play an important role in the overall long-term success of business organizations. The role of business corporations in our society has evolved from profit maximization to creating shareholder value and in recent years to create shared value to protect interests of all stakeholders including investors, creditors, employees, customers, suppliers, government, the environment, and society. In today’s business environment, global businesses are under close scrutiny and profound pressure from lawmakers, regulators, the investment community, and their various stakeholders to focus on sustainability measures and accept accountability and responsibility for the five EGSEE dimensions of their performance. Corporate performance is measured not only by the economic sustainability performance but also by a set of non-financial sustainability key performance indicators pertaining to environmental, social, governance, and ethical activities. In this paper, we investigate opportunities and challenges in implementing business sustainability in Asia and the progress toward integrated sustainability performance reporting and assurance. We conclude that much progress has been made in promoting business sustainability performance, reporting and assurance in Asia in recent years. However, much more needs to done in integrating business sustainability performance into business culture and corporate models in Asia. Integrated sustainability reporting and assurance also should be standardized in effectively, consistently, accurately, and reliably communicating all five dimensions of sustainability performance to all stakeholders.
VL  - 3
IS  - 4
ER  -

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