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Title: The influence of top managers' personal values on sustainability of SMEs in developing countries
Authors: Ahmic, Azra
Sunje, Aziz
Kurtic, Emir
Keywords: Social responsibility of business
Small business -- Finance
Sustainable development
Small business -- Management
Executives -- Attitudes
Issue Date: 2016
Publisher: Governance Research and Development Centre, Croatia & University of Malta, Faculty of Economics, Management and Accountancy, Department of Insurance
Citation: Ahmic, A., Sunje, A., & Kurtic, E. (2016). The influence of top managers' personal values on sustainability of SMEs in developing countries. Journal of Corporate Governance, Insurance and Risk Management, 3(1), 27-49.
Abstract: The purpose of this paper is to provide a new theoretical insight regarding top managers' personal values in developing countries based on the Schwartz Values Theory (Schwartz, 1992, 1996, 2006; Schwartz and Bilsky, 1990) and to explore the influence of top managers' personal values on sustainability performances of successful businesses. The research describes personal values differences between top managers and their commitment to pro-social and pro-environmental responsibility who were approached through the validated and reliable questionnaire on identifying top managers' personal values (PVQ40) and questionnaire on sustainability indicators observed through the „triple bottom line“ concept which includes three measuring elements: financial, social and environmental performances (Fauzi, Svensson and Rahman, 2010). Given that top managers are very often the owners in SMEs, their values are largely reflected in the organizational values, which means that in small pro-environmentaly oriented firms, the personal values of ownersmanagers seem to play a much stronger part in motivating proenvironmental behaviors than in other SMEs (Lawrence at al., 2006). With regard to business sustainability, it is still insufficiently known, developed and understood in Southeast Europe and in developing countries. Therefore, this research may be used to encourage companies and local governments to include a sustainability issues in their business activities as a pre-condition for business success and competitiveness. The managers in SMEs can use this research as a guideline on introduction of contemporary principles of sustainability into their companies and to improve and direct their personal values towards sustainability.
ISSN: 2757-0983
Appears in Collections:JCGIRM, Volume 3, Issue 1, 2016 (Special issue)

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