giving employment to weaker section, encouraging women workers etc. Practicing sustainability in sourcing of raw material also has positive impact on shareholder value. The results have concluded that society and pre- operation activities has positive impact on shareholder value irrespective of the size and profitability of the company. Higher the sustainability practice in society and pre-operation related activities more is the shareholder value of the firm. Another interesting finding is that while determining the financial performance, life cycle sustainability is influenced by size and profitability of the firm. The results of interaction effect conclude that companies having higher profitability and practicing sustainability in operations and post-operations enjoy higher shareholder value. Whereas companies having larger size and practicing sustainability in operations and post-operations enjoy lesser shareholder value. The results of the study offer implications for the companies. First, managers of the all companies should focus on society related sustainability activities in order to enjoy shareholder value because sustainability in society increases shareholder value irrespective of size and profitability of the company. Second, companies must source material from suppliers that are certified to be complaint with environment standards so as to increase their company’s shareholder value. Third, companies with higher Return on Assets must focus on operation activities and post-operation activities in order to enjoy better financial performance. The study also adds the value to the existing literature by studying the sustainability of supply chain activities. In fact it is one of the initial studies that have focused on the sustainability of supply chain and studied the interaction effects of supply chain activities with the other variables on shareholder value. The study assists managers in creating shareholder value for the firm in the developing economy like India by focusing on the particular activities. References Albino, V., Balice, A., & Dangelico, R. M. (2009). Environmental strategies and green product develop- ment: An overview on sustainability-driven compa- nies. Business Strategy and the Environment , 18 (2), 83–96. Chang, D. S., & Kuo, L. C. R. (2008). The effects of sustain- able development on firms’ financial performance: An empirical approach. Sustainable Development , 16 (6), 365–380. Dickinson, S. J., Gill, D. L., Purushothaman, M., & Scharl, A. (2008). A web analysis of sustainability re- porting: An oil and gas perspective. Journal of Website Promotion , 3 (3–4), 161–182. Dowell, G., Hart, S., & Yeung, B. (1999). Do corporate global environmental standards in emerging mar- kets create or destroy market value. Ann Arbor , 1001 , 48109. Dowell, G., Hart, S., & Yeung, B. (2000). Do corporate global environmental standards create or destroy mar- ket value? Management Science , 46 (8), 1059–1074. Field, A. (2013). Discovering statistics using IBM SPSS statistics . London: Sage. Gill, D. L., Dickinson, S. J., & Scharl, A. (2008). Communicating sustainability: A web content analysis of North American, Asian and European firms. Journal of Communication Management , 12 (3), 243–262. Guthrie, J., & Abeysekera, I. (2006). Content analysis of social, environmental reporting: What is new? Journal of Human Resource Costing & Accounting , 10 (2), 114–126. Guthrie, J., Cuganesan, S., & Ward, L. (2008, March).
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