SUSTAINABLE BRANDING

A sustainable brand should integrate environmental, social, and economic issues into its
business operations. Sustainable Branding considers how broader perspectives on sustainability
and corporate social responsibility can be applied to the practicalities of brand management.
By addressing a range of perspectives and their application to branding, the authors go
beyond sustainable branding to question the role brands play in a wider sustainable society.
Structured around three core parts – People, Planet and Prosperity – contributions from
experts in the field consider the human dimensions of environmental change, identity and
reputation, technology and innovation, waste management, public and brand engagement,
environmental ecosystems and the circular economy. Combining theoretical insight and
empirical research with practical application, each chapter includes real-life international
cases and reflective questions to allow discussion, best-practice examples and actionable
suggestions on how to implement sustainable branding activities.
This book is perfect for academics, postgraduate and final-year undergraduate students
in sustainable branding, sustainable business, corporate social responsibility, brand man-
agement and communications. It provides a comprehensive treatment of the nature of rela-
tionships between environmental, economic, social, companies, brands and stakeholders in
different areas and regions of the world.

Pantea Foroudi is Business Manager and Solution Architect at Foroudi Consultancy as

well as member of the Marketing, Branding, and Tourism, Middlesex University, London.

Maria Palazzo is a research fellow at the Department of Political and Communication

Studies, University of Salerno (Italy), an adjunct professor at Universitas Mercatorum (Italy)
and a member of the Sustainability Communication Centre (SCC).
“Sustainable Branding: Ethical, Social, and Environmental Perspectives offers interesting and illu-
minating insights into sustainable brands and communications in the second decade of the
21st century. It is useful for brand managements, communications practitioners and post-
graduate students. Sustainable brands still can be somewhat of an enigma to non-marketers,
consumers love them, and company reputations and images can be built around them. The
book tackles original research questions, and addresses these well, providing plural solutions
using the integrated perspective. Well worth reading.”
—Philip Kitchen, Professor of Marketing at Salford,
University Business School

“Sustainable Branding: Ethical, Social, and Environmental Perspectives does what it states on the
cover. To managers it engages the power of sustainable branding to stimulate new target
markets. To those studying branding it is a highly informative book covering concepts and
applications with a diversity of examples and cases.”
—Len Tiu Wright, Professor and Editor-in-Chief at
Cogent OA Business & Management

“A very significant contribution to a rapidly growing field, valuing its diversity and at the
same time making important inroads into clarifying some key concepts.”
—Jillian Farquhar, Professor in Management, Solent University
SUSTAINABLE BRANDING
Ethical, Social, and Environmental
Cases and Perspectives

Edited by Pantea Foroudi and Maria Palazzo

First published 2021
by Routledge
2 Park Square, Milton Park, Abingdon, Oxon OX14 4RN
and by Routledge
52 Vanderbilt Avenue, New York, NY 10017
Routledge is an imprint of the Taylor & Francis Group, an informa business
© 2021 selection and editorial matter, Pantea Foroudi and Maria Palazzo; individual
chapters, the contributors
The right of Pantea Foroudi and Maria Palazzo to be identified as the authors of the
editorial material, and of the authors for their individual chapters, has been asserted in
accordance with sections 77 and 78 of the Copyright, Designs and Patents Act 1988.
All rights reserved. No part of this book may be reprinted or reproduced or utilised in
any form or by any electronic, mechanical, or other means, now known or hereafter
invented, including photocopying and recording, or in any information storage or
retrieval system, without permission in writing from the publishers.
Trademark notice: Product or corporate names may be trademarks or registered
trademarks, and are used only for identification and explanation without intent to
infringe.

British Library Cataloguing-in-Publication Data

A catalogue record for this book is available from the British Library
Library of Congress Cataloging-in-Publication Data
A catalog record has been requested for this book

ISBN: 978-0-367-42881-5 (hbk)

ISBN: 978-0-367-42882-2 (pbk)
ISBN: 978-0-367-85570-3 (ebk)
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CONTENTS

List of contributors viii

Introduction to contemporary issues in sustainable branding: ethical,
social, and environmental perspectives 1
Pantea Foroudi and Maria Palazzo

PART I
People 9

1 Place heritage and CSR: synergies between cultural tourism and

corporate branding 11
Angela Bargenda

2 Let’s go green – planet, people, product, packaging, pricing, and

promotion (6Ps) 24
Awele Achi, Ogechi Adeola, and Vanessa Burgal

3 Branding for social marketing: keys for success 38

Luis Doña Toledo, Lucia Porcu, Juan Miguel Rey Pino, and Maria Palazzo

4 Sustainable brand management: goodwill as a tool to quantify brand

value from the perspective of stakeholders 55
Ivana Podhorska, Wlodzimierz Sroka, and Jana Majerova

5 Place, branding, and smart growth 78

Oluwayemisi Olomo, Kehinde Mokwenyei, Olutayo Otubanjo,
and Ogechi Adeola
vi Contents

6 Corporate social responsibility and employee volunteerism: a broad

overview of CSR through volunteerism 99
Sudeepta Pradhan, Makhmoor Bashir, Sanjit Roy, and Bang Nguyen

PART II
Planet 113

7 Climate change, environmental auditing, and corporate/brand strategy 115

Maria Teresa Cuomo, Rosa Maria Caprino, Cinzia Genovino,
and Debora Tortora

8 Analyzing the Scientific Evolution of Sustainable Technology

Research in Business and Management Science 128
Morteza Akbari, Rahime Zaman Fashami, and Maryam Khodayari

9 Waste to Wealth (W2W): the need for a social enterprise approach

to turn waste into wealth 158
David Luigi Fuschi, Alireza Nazarian, and Pantea Foroudi

10 Life cycle thinking and the circular economy 216

Octavio Ibarra, Maria Carolina Ovalle, and Maria Palazzo

11 Transition to a low carbon economy: opportunities and challenges 231

S. Asieh H. Tabaghdehi

12 Global political ecology 240

Francisco J. Montoro Ríos

PART III
Prosperity 255

13 Multicultural identity: developing a comprehensive understanding

of multicultural identity, its aspects and influence on business
adaptability and sustainable brands 257
Maria Jerez-Jerez

14 The unexpected players in branding and advertising: advertising

shakeout, traditional folk media, and influencer marketing 274
Nastaran Norouzi Richards-Carpenter and Kelly Tafoya
 Contents  vii

15 Exploring value co-creation concept: a bibliometric analysis of

20 years of research and theory 291
Yousef Alqayed, Pantea Foroudi, Kaouther Kooli, Mohammad Foroudi, and
Maria Antonella Ferri

16 Sustainability and social innovation: in the case of Covid-19 pandemic 310

Sadaf Sartipi, Pantea Foroudi, Maria Palazzo, and
Mahmoud Ahmadpour Daryani

17 Sustainable branding in healthcare within Generation Z in a

developing economy 324
Durga Vellore-Nagarajan, Constantinos-Vasilios Priporas,
and Mark McPherson

18 The market reaction to unexpected earnings via discretionary

accruals and sustainability reporting 344
Javad Izadi Z.D., Maria Palazzo, and Alfonso Siano

Index 363
CONTRIBUTORS

Awele Achi is PhD candidate in the Department of Strategy and Marketing at The Open
University Business School, Milton Keynes, UK. Prior to this, Awele held a scholarly re-
search position at Lagos Business School, Lagos, Nigeria. His research interests lie in the areas
of marketing strategy, brand management, social entrepreneurship, and research methods.

Ogechi Adeola (PhD) is Associate Professor of Marketing and academic director of the Sales
and Marketing Academy at the Lagos Business School, Pan-Atlantic University, N ­ igeria.
She holds a doctorate in business administration from Manchester Business School, UK. She
is a 2016 Visiting International Fellow, Open University Business School, UK, and a 2017
Paul R. Lawrence Fellow, USA. She has published academic papers in top peer-reviewed
journals. Her co-authored papers won Best Paper Awards at international conferences in
2016–2019, consecutively. Her research focuses on strategic entrepreneurial marketing in
sub-Saharan Africa.

Morteza Akbari (PhD) is Associate Professor at the Faculty of Entrepreneurship, Univer-

sity of Tehran. He has published several papers on different aspects of entrepreneurship and
technological entrepreneurship & innovation. His research interests are IT/ICT behaviour,
consumer psychology, sustainable technology, open innovation and technological entre-
preneurship. His work has been published in various journals including Journal of Cleaner
Production, Journal of Nursing Scholarship, European Journal of Innovation Management, Journal of
Agricultural Science and Technology, Int. J. Business Innovation and Research, Social Responsibility
Journal, and Iranian Journal of Management Studies.

Angela Bargenda  (PhD) is Associate Professor of Marketing, Communication and

­ anagement at ESCE International Business School/INSEEC U. Research Center in Paris.
M
Her areas of specialty include corporate heritage, cultural heritage, marketing aesthetics,
corporate architecture and art, brand identity, and semiotics. She regularly contributes on
these topics to international conferences and publications.
 Contributors  ix

Makhmoor Bashir Dar  (PhD) is Assistant Professor, College of Business and Economics
(AACSB Accredited), Qassim University, Saudi Arabia. He has earned his PhD and an
MBA in strategic management. His PhD thesis investigated the effect of technological de-
velopments on the business model innovations. His recent research has been published in in-
ternational journals of repute like Management Decision, Studies in Higher Education, Education
& Information technologies, Corporate Reputation Review, and International Journal of Innovation
Science, among others. Dr. Bashir has also presented his work at many international confer-
ences like the Strategic Management Society and North American Marketing Society for
Education in India. He has developed teaching cases on Uber, Airbnb, Xiaomi, Spice Jet,
Connect Broadband, and so forth. Dr. Bashir is also the reviewer for the International Journal
of Hospitality Management and Journal of Modelling in Management. Dr. Bashir has also received
an outstanding reviewer award in 2018 from International Journal of Hospitality Management.
His research interests include business model innovation, competitive advantage, techno-
logical developments, and sports marketing.

Vanessa Burgal  is a member in the marketing department at Lagos Business School,

Pan-Atlantic University, Nigeria. She earned her bachelor’s degree and MBA from ESADE
Business School in Barcelona, Spain. She also has the CEMS Master from HEC Business
School in Paris, France. Prior to her academic career, she worked in consumer packaged
goods brand management, market research, and category management for Heineken Inter-
national, Coca-Cola, and Agrolimen in Europe, Africa, and South-America. She remains
close to practice by serving as a consultant to companies and their executives. Her research
focuses on consumer understanding in sub-Saharan Africa.

Rosa Maria Caprino (PhD) teaches business plan at the University of Salerno. She is also
administrator of a major public works company and was (formerly) member of the board
of a local bank. She has published several articles in national journals on finance and bank.
Since 1997, she has been working as financial consultant for many organisations, especially
in the bank sector.

Maria Teresa Cuomo (PhD) is Associate Professor of Business Economics at the U

­ niversity
of Salerno, where she teaches management and innovation and management. She teaches
also at the Business School of the Bicocca University in Milan. She is a member of several
editorial committees of national and international journals. She has published in top in-
ternational journals, about reputation, consumer behaviour, augment retail, corporate and
investment assessment. She has presented papers and research outcomes at numerous con-
ferences all around the world. She carries out research, consultancy, and training to various
organisations (both public and private) on finance and performance, investment assessment,
market research, and marketing.

Mahmoud Ahmadpour Daryani (PhD) is Professor of Entrepreneurship at Tehran ­University

as well as Manager Director of Mining and Industry Organization of Iran. He was the chair
of entrepreneurship center of Amirkabir University for three years. He earned his PhD in
human resource management from Tarbiat Modarres University of Tehran and completed his
MS in industrial engineering and BS in industrial engineering from ­A mirkabir University of
x Contributors

Tehran. His main research stream is about entrepreneurship and capability development in
different industries and organisations, social entrepreneurship, and business plan.

Rahime Zaman Fashami is a PhD candidate in business management (marketing), Faculty

of Social Sciences and Economics, Alzahra University. Her research interests are digital
marketing, social media, content marketing, branding, brand engagement, neural market-
ing, technology, and innovation.

Maria Antonella Ferri is Full Professor of Management at Universitas Mercatorum, where

she teaches Strategy, Marketing and Management. She got a PhD in Business Management
at The University Ca’ Foscari of Venice; she became researcher at the University of Rome
“La Sapienza” and then Associate Professor at the Parthenope University of Naples. She
is interested in strategic sustainability, social responsibility, business model and marketing
plan. She published several books and articles on these items.

Mohammad Mahdi Foroudi (PhD, BSc (Honour)) is a Co-Founder and Managing ­Director

of Foroudi Consultancy. He is responsible for managing the firm’s worldwide interests and
enhancing its strategic and creative global offering to our clients in the UK, including the
growth and development of their brand, company’s corporate identity and architecture
since 2013. He earned his PhD from Brunel University London. He has published widely
in international academic journals such as Journal of Business Research, European Journal of
Marketing, and so on.

Pantea Foroudi (PhD, FHEA, MSc (Honours), MA, BA (Honours)) is business manager

and solution architect at Foroudi Consultancy as well as member of the Marketing, Brand-
ing, and Tourism, Middlesex University, London. She earned her PhD from Brunel Uni-
versity, London. Pantea has started her corporate position since 1996. Her research interests
include marketing, branding, communications, visual identity/design, stakeholders, social
media, and e-marketing from a multidisciplinary approach. Pantea is Editor in International
Journal of Hospitality Management (IJHM), Journal of Business Research ( JBR); Qualitative Market
Research: An International Journal (QMRIJ), International Journal of Consumer Studies (IJCS),
Journal of Business to Business ( JBBM); Senior Editor in European Journal of International Man-
agement (EJIM), Cogent Business & Management, Marketing Session (CBM), and Iranian Journal
of Management Studies (IJMS) (e-mail: p.foroudi@mdx.ac.uk)

David Luigi Fuschi  (PhD) is from Reading University, eMBAs from SDA-Bocconi and
IBM-IFDA and a Dr.Ing. degree from the Politecnico di Milano. Engineer by training,
project manager by profession and educator by passion, David is a PMP, PRINCE2, CDPM
CMgr, CEng certified Fellow of the Royal Society for the encouragement of arts, manufac-
tures, and commerce. David has 30+ years professional experience, a track record of over 100
projects (for 300+ million Euro) successful completion, 12 projects rescued (for 30+ million
Euro), acquisition of over 21 projects (for 60+ million Euro) and over 250 projects assessed.

Cinzia Genovino has PhD in management & information technology at the University of

Salerno, where she currently teaches management at the Department of Economics and Sta-
tistics. She has published national and international chapter in books and articles on raw
 Contributors  xi

materials, as well as marketing and corporate finance. Since 1998, she has been working as
financial and marketing consultant for several organisations, especially in the financial sector.

Octavio Ibarra  (PhD) is Dean of the Business School at Universidad del Norte,
­ arranquilla  – Colombia. Has a postgraduate degree in organisational leadership from
B
Said ­Business School-University of Oxford (UK); a PhD in management and Masters in
­Philosophy from the University of Hull (UK) and a Masters in Business Administration
from Universidad del Norte, Barranquilla, Colombia; researcher and lecturer in marketing,
branding and retail management; Ex-President of The Latin American Council of Business
Schools (­CLADEA), Lima, Peru; member of the Colombian Associations of Business School
(­ASCOLFA) ­Bogotá, Colombia. Currently a member of the Latin America Advisory Coun-
cil of Association of MBA´s – AMBA.

Javad Izadi Z.D. (PhD) is Senior Lecturer in accounting and finance at the University of
West London. He has many years of professional experience in academic and industry. He is
an editorial board member of Cogent Business & Management and Management and Business
Academy in the UK. Also, he is a member of European and Iranian Accounting Association.

Maria Jerez-Jerez has PhD in business management from Middlesex University, London,

UK. She has Masters of Arts degree in international hotel and restaurant management from
London Metropolitan University, UK, and a Bachelor of Science degree in hospitality and
tourism, Madrid, Spain. She worked in the hotel and tourism industry in various functional
areas and managerial roles before becoming an educator.

Maryam Khodayari, Master of Science in technology management, Faculty of Manage-

ment and Accounting, Shahid Beheshti University. Her research interests are technology
transfer, technology intelligence, technological innovation, technology life cycle, technol-
ogy evaluation, open innovation, sustainability, and technological entrepreneurship. Her
work has been published in the Journal of Sustainable Energy Technologies and Assessments,
Cogent Business & Management, and Technology Development Management.

Kaouther Kooli (PhD) is principal academic in marketing in the Department of Marketing,

Strategy and Innovation at the Faculty of Management, Bournemouth University. She holds
a PhD in marketing. She has over 18 years of higher education teaching experience acquired
in Tunisia, UK and France. Her research interests are in B2B marketing, consumer be-
haviour and digital marketing. She is the Associate Editor of the Journal of Customer Behaviour
and the chair of the Academy of Marketing B2B Special Interest Group. She has established
an annual conference on B2B marketing where academics, students, and practitioners get
together to debate current issues and challenges facing B2B marketing. She has published
in top journals. Kaouther has been invited to give talks at a number of universities, both in
the UK and abroad.

Jana Majerova (PhD) is Associate Professor at the Department of Economics, Faculty of

Operation and Economics of Transport and Communications, University of Zilina (Slo-
vak Republic), where she teaches marketing, strategic management, and commercial law.
Her professional and research activities are focused mainly on the issue of the marketing
xii Contributors

management and corporate law. She is a national coordinator of EUFin ERASMUS

KA2 Strategic Partnership Project 2018 to 2021, titled ‘Innovative integrated tools for
financial literacy education across Europe’. She has more than 50 records in the data-
bases WoS or SCOPUS with more than 200 citations. Her current h-index value is 11
(IDN-8126-2015). Nowadays, she is a member of scientific or editorial boards of several
scientific conferences. Since 2016, she cooperates with publishing house Taylor & Francis
as a reviewer.

Mark McPherson (PhD) is Associate Professor in marketing at Middlesex University Busi-

ness School, UK. His research specialism includes ethnic small businesses, marketing to
ethnic minority groups, and Islamic marketing. He has published in several international
journals and presented at various marketing and small business conferences at home and
overseas. His teaching interests are within strategic marketing, branding, guerrilla market-
ing, and leadership and followership. In addition to teaching and research, Mark consults for
a number of clients from the ethnic small business communities.

Kehinde Mokwenyei  (PhD) is a research assistant at The Lagos Business School, where
she undertakes academic research in the fields of corporate brand management. She holds
a distinction graded Master of Science degree in marketing from the University of Lagos,
Nigeria, and a Bachelor of Science, second class upper degree also in marketing from Delta
State University, Nigeria. She has recently secured admission and a scholarship opportu-
nity to pursue a PhD with an emphasis on the relationships between wearable technology,
self-efficacy, and consumers’ well-being at the Birmingham Business School. Kehinde has
authored a novel and numerous fiction-related articles on love and life.

Francisco J. Montoro Ríos (PhD) is Lecturer in marketing and consumer behaviour at the

University of Granada. He researches on different aspects of consumer behaviour, but in
particular the relationships between consumption and the natural environment. In recent
years, his main research interest has been to analyse the effect of marketing activities on
consumer decisions from a critical social marketing perspective, and taking into account
both the neurophysiological and cultural bases of the response to marketing stimuli. His
publications can be found in journals such as Journal of Advertising Research, Journal of Con-
sumer Marketing and Computers in Human Behavior.

Alireza Nazarian (PhD) is a Senior Lecturer in international and cross-cultural manage-

ment at University of Roehampton. His research interests include organisational theory,
leadership, national and organisational culture, organisational performance, and organisa-
tional effectiveness. He has published in a number of journals including International Journal
of Hospitality Management, International Journal of Contemporary Hospitality Management, Journal
of Business Research, Qualitative Market Research: An International Journal. He is acting as the
Editor-in-Chief of Organisational Studies and Innovation as well as Senior Editor of European
Journal of International Management.

Bang Nguyen (PhD)  is Professor, Center for Innovation and Entrepreneurship. Dr. Bang
Nguyen, PhD, is a former Professor of Marketing at the Department of Entrepreneurship
and Relationship Management, University of Southern Denmark, Kolding, Denmark. He is
 Contributors  xiii

Adjunct Professor at the Department of Management at Shanghai University, Shanghai, China,

and the Editor of The Bottom Line, a journal on the economics of information, and on the edito-
rial board of Journal of Marketing Management. His research interests include customer relationship
management (CRM), branding, marketing, and innovation management. Bang has extensive
knowledge in technology and service organisations and has published widely in journals such
as Industrial Marketing Management, Journal of Business Research, and European Journal of Marketing.

Oluwayemisi Olomo (PhD) is Adjunct Lecturer at Pan-Atlantic University, Nigeria, where

she teaches marketing to undergraduate students. She recently completed her PhD in man-
agement, with specialisation in marketing, at Lagos Business School, Nigeria, and her
research interests include corporate branding, health branding, digital marketing, sustain-
ability marketing as well as marketing and advertising policy.

Olutayo Otubanjo (PhD) is Senior Lecturer at The Lagos Business School, where he teaches
full-time and executive MBA in marketing. He was a visiting research fellow at Warwick
Business School and was in a similar capacity at Spears School of Business, O
­ klahoma State
University, USA. He holds a PhD in marketing with an emphasis on corporate identity.
Otubanjo attended The University of Hull (UK), and Brunel University, London. He has
published in The Academy of Marketing Science Review, Tourist Studies; Management Decisions,
Marketing Review, Journal of Product and Brand Management, Corporate Reputation Review, Cor-
porate Communications: An International Journal, and so forth.

Maria Carolina Ovalle is MBA student at Universidad del Norte, Colombia. She holds an
undergraduate degree in economics. Actually, she is the research assistant in the Business
School at Universidad del Norte, Colombia. Her research interests are consumer behaviour,
marketing, and business analytics.

Maria Palazzo (PhD, AFHEA, FHEA, MSc (Honours), MA, BA (Honours)) is a research

fellow at the Department of Political and Communication Studies, University of Salerno
(Italy), and a member of the Sustainability Communication Centre (SCC) (http://dsc.unisa.
it/scc/). She is also an academic tutor and a lecturer at the Universitas Mercatorum (Rome,
Italy). She was a former lecturer at University of Bedfordshire, School of Business (London,
Luton, UK), a visiting scholar at the University of Granada (Granada, Spain) and a visiting
lecturer at the Universidad del Norte, Escuela de Negocios (Barranquilla, Colombia). She
is the Editor of Cogent Business & Management and International Journal of Sustainable Entre-
preneurship and Corporate Social Responsibility. Her articles have been published in The TQM
Journal, Corporate Social Responsibility & Environmental Management, Current Issues in Tourism,
International Journal of Bank Marketing, Qualitative Market Research: an International Journal,
Land Use Policy, Journal of Business-to-Business Marketing, Journal of Brand Management and in
other academic outlets (e-mail: mpalazzo@unisa.it).

Lucia Porcu (PhD) is Associate Professor of marketing and market research at the Univer-
sity of Granada (Spain). She has previous experiences as a visiting scholar at Brock Uni-
versity (Canada), Northwestern University (USA), University of Bologna, and ­University
of ­Cagliari (Italy). Her research interests are integrated marketing communication (IMC),
cross-cultural marketing, and tourism marketing. She has participated in several international
xiv Contributors

conferences and has published in prestigious journals, such as International Journal of Advertis-
ing, European Journal of Marketing, Journal of Business Research, International Journal of Hospitality
Management, and Computers in Human Behavior.

Sudeepta Pradhan  (PhD) is Associate Professor, Department of Marketing & Strategy,

IBS Hyderabad (AACSB Accredited), IFHE University. Dr. Sudeepta Pradhan has a bach-
elor’s degree in law (LLB); master’s degree in commerce (Utkal University), and Masters
in Business Laws (NLSIU, Bengaluru). She has a PhD from IFHE University in the area of
CSR and financial performance. Her research interest lies in the field of CSR, stakeholder
management, corporate strategy, responsible tourism, higher education, and qualitative re-
search. She has published research papers in journals such as the Social Responsibility Jour-
nal, International Journal of Work Organization and Emotion, The Qualitative Report, Business:
Theory and Practice, Management Research Review, and Journal of Transnational Management.
Dr. ­Pradhan has received best paper awards in a few national and international confer-
ences for her research on CSR and sustainability. She has authored teaching cases on CSR
and ­corporate strategy, and published chapters with reputed publishers such as Springer,
­McMillan Publishers India Ltd., and Abramis (UK). Currently, she is an Associate Professor
at IFHE University, IBS Hyderabad, in the Department of Marketing & Strategy.

Constantinos-Vasilios Priporas (PhD) is a Senior Lecturer in marketing at Middlesex Uni-

versity Business School, UK. His research interests include consumer behaviour and stra-
tegic marketing with main emphasis on tourism, retailing and food. He has published in
several leading international academic journals and conferences. In addition, he co-­authored
a book on technology and innovation for marketing and co-edited a book on market sens-
ing. He is a member of several professional bodies, and he is editorial board member of
the Journal of Customer Behavior. He has acted as a guest editor, reviewer, and track chair in
academic journals and conferences.

Juan Miguel Rey Pino (PhD) is Associate Professor in marketing management and research
at the Universidad de Granada (Spain). He works on social critical marketing, more spe-
cifically on topics of tobacco marketing regulations. He has collaborated with different
NGOs and organisations within the European Union (contracts with the European Union)
and Latin America for cases of implementing regulations that minimise the impact of food
and tobacco industry marketing activities that impact in a negative way in the population,
especially among children and adolescents.

Nastaran Norouzi Richards-Carpenter  (PhD) is Associate Professor of Marketing-­

Programme, Director of MA Luxury Brand Management. Nastaran’s first degree is in com-
puter and electronic engineering. She holds an executive MBA degree from International
Business School, University Technology of Malaysia (UTM), with a concentration in stra-
tegic management. Additionally, Nastaran has more than ten years of management practice
with local and international experience, specifically in computer, telecom, creative and
textile industries, in addition to her academic career in the UK universities. Nastaran’s PhD
from Birkbeck College, University of London, focuses on strategic management of firms in
the textile cluster in the East Midlands, UK. Nastaran is a Full-Time Professor of marketing
and the Programme Director of luxury brand management at Richmond University – the
American University in London.
 Contributors  xv

Sanjit Kumar Roy (PhD) is Associate Professor of Marketing and fellow at Centre for Busi-
ness Data Analytics at UWA Business School, The University of Western Australia. He is a
certified LEGO® SERIOUS PLAY®Facilitator. He is an Associate Editor at ­European Jour-
nal of Marketing and on the editorial boards of Journal of Business Research, Journal of ­Services
Marketing, Journal of Strategic Marketing, and Journal of Service Theory & Practice. His research
interests include marketing of services, impact of new technology on marketing, and trans-
formative service research. He has published in European Journal of Marketing, Journal of Busi-
ness Research, Journal of Marketing Management, Information Systems Frontiers, Journal of Services
Marketing, among others.

Sadaf Sartipi is a PhD student of entrepreneurship. She was Manager at Giti Salamat Safir
and Commercial Manager at Behestan Behdasht Company. She earned her PhD in entre-
preneurship from Tehran University, MS in entrepreneurship in Tehran University and BS
in medical engineering from Amirkabir University.

Alfonso Siano is Professor and Chair of Marketing and of Corporate Communication

and Brand Management at the University of Salerno (Italy) where he is the Founder
of the Doctoral Programme in Marketing Communications. He carries out research in
corporate communication and reputation, marketing communications, brand manage-
ment, CSR communication, sustainable marketing. He has published in a wide range
of international academic journals, including the  Journal of Business Research,  Interna-
tional Journal of Advertising, Corporate Social Responsibility & Environmental Management,
Electronic Commerce Research, International Journal of Tourism Research, Journal of Marketing
Communications, Land Use Policy, Current Issues in Tourism, Corporate Communications: An
International Journal, Journal of Brand Management, Qualitative Market Research: an Interna-
tional Journal.

Wlodzimierz Sroka (PhD) is Associate Professor at the Management Department of WSB

University, Dąbrowa Górnicza (Poland), as well as extraordinary Professor at North-West
University (South Africa). His research interests include strategic management, with par-
ticular emphasis on inter-organisational cooperation, marketing, CSR and business ethics,
entrepreneurship and social entrepreneurship as well as innovations. He is Editor-in-Chief
at Forum Scientiae Oeconomia as well as Deputy Editor-in-Chief at European Journal of
International Management. He is also a member of the editorial boards of numerous scientific
journals. He has had work published in many peer-reviewed journals, such as in Euro-
pean Journal of International Management, Transformations in Business and Economics, Engineering
­Economics, Polish Journal of Management Studies, Entrepreneurial Business and Economic Review,
European Integration Studies, Engineering Management in Production and Services, Central European
Journal of Public Policy, Central European Business Review, Journal of Eastern European and Central
Asian Research and Amfiteatru Economic. He has over 25 years of business experience in steel
and machine industries.

Seyedeh Asieh H. Tabaghdehi (PhD) is a Lecturer in strategy and business economics at

Brunel Business School. Dr Tabaghdehi develops and supports initiatives in the field of eco-
nomics and finance, energy and business strategy to promote research, enterprise and schol-
arship engagement. She has exceptional passion about collaborating academic research to a
xvi Contributors

policy audience and corporate decision-makers. Dr Tabaghdehi is a member of UK Energy

 

Institute, fellow member of the Higher Education Academy, and fellow member of CMI.

Kelly Tafoya specializes in marketing for luxury beauty and jewellery brands in the US and
UK. She has a BA in Public Relations from Drake University in Des Moines, Iowa, and MA
in Luxury Brand Management from Richmond University in London. She currently resides
in Colorado where she is the Marketing Manager at Sarah O. Jewelry.

Luis Doña Toledo (PhD) is Assistant Professor at the University of Granada. He was pre-
viously Lecturer at the University of Almería and at the University of Seville. He has pub-
lished articles in scientific journals such as Sustainability. Studies in Higher Education, Marketing
Magazine for Higher Education, International Journal of Public Profile and Public Marketing and
Spanish Journal of Scientific Documentation. He has published 32 works in national and inter-
national conferences and events. The research topics are university marketing, education
management, social marketing and inclusive education. He has a doctorate in marketing and
communication. He has written a doctoral thesis on marketing in higher education. He has
participated in 24 educational projects at Spanish and European levels.

Debora Tortora (PhD) is currently researcher in business management at the University

Bicocca of Milan (Italy), where she teaches management. Her main subjects of interest con-
cern tourism, augmented reality and marketing, consumer behaviour, retail and experience,
brand and corporate reputation. She has published in several journals, both national and in-
ternational; she has also presented papers and research outcomes at numerous international
conferences. According to ASN (National Scientific Habilitation), she received the habilita-
tion for the Associate Professorship. Actually, she serves as a member of the editorial board
on the Journals Esperienze d’Impresa and Global Journal of commerce & Management Perspective.

Durga Vellore-Nagarajan is a PhD candidate at Middlesex University, UK. She holds a BA

in advertising, PR and media from Middlesex University, Dubai, and an MA in marketing
communications from Middlesex University, UK. Prior to joining her marketing PhD,
she ran a digital marketing consultancy with clients from Dubai, India and the USA. Her
research interests are consumer behaviour and strategic marketing, with an emphasis on the
healthcare sector.
INTRODUCTION TO CONTEMPORARY
ISSUES IN SUSTAINABLE BRANDING
Ethical, social, and environmental perspectives

Pantea Foroudi and Maria Palazzo

How do we make a sustainable global brand?

The concept of brand sustainability is progressively becoming complex as issues in how
companies, customers, and government meet the ever-growing demands and opportunities
on a global scale come to the fore. This approach, considered as an environmental manage-
ment tool during the 1980s, is now appreciated as a crucial and dominant factor in m ­ odern
business discourse. Furthermore, this issue has become an area of study that has been deep-
ened with interconnected theories and approaches, such as business ethics, s­ ocial issues
management, green marketing, cause-related marketing, corporate philanthropy, public
policy, stakeholder management, and corporate accountability. These are only a few aspects
used to illustrate the phenomena associated with sustainable branding, thus making it a very
multifaceted field.
A sustainable brand should integrate environmental, social, and economic issues into its
business operations. A sustainable business should have to raise the collective conscious-
ness and the individual consciousness towards producing products and use of the prod-
ucts. The next generation of human civilisation is reliant on sustainable development goals
(SDGs) and sustainable earth to connect the prosperity of people and the planet. The current
­challenge is “how to think beyond and outside current limitations to understand how to use
and manage planetary resources, not just for the short term but with a view to future need”
(UNDP, SDGs, 2018).
The aim of this book is to understand: (i) the most important elements of sustainable
branding and connections among human development and the environment; (ii) how pro-
tecting the planet and maintaining the resources could support human life and decrease
poverty, hunger, and inequality and improve health and well-being for a global society; and
(iii) how the knowledge of human–environment systems could change practices, policies,
governance, and behaviours.
Human–environment systems focus on integrated approaches, scalable, and solutions
by communicating to stakeholder groups, end-users, local contexts, managers/decision-­
makers, and citizens around the globe.
2  Pantea Foroudi and Maria Palazzo

Recognising the complexity and plurality at the heart of the sustainable brand discipline,
this book fills a gap in the market by posing several original research questions on the in-
trinsic nature of sustainable branding, addressing gaps in knowledge in innovative ways,
and generating transformational change. Also, it seeks to offer multiple, often competing,
answers to those questions by reviewing, in a different and integrated perspective, domi-
nant existing themes with the literature and subjecting them to critical scrutiny through a
multifocal perspective.
Our book, Contemporary Issues in Sustainable Branding: Ethical, Social, and Environmental
Perspectives, addresses the following objectives.
This book explores the multiple stakeholder audiences that sustainable branding of all types
must address. Sustainable branding encompasses many facets, which are covered through-
out the book. Such facets of sustainable branding include climate, environmental auditing,
technology and innovation, waste management, and ecosystems management. This book
­provides examples from different kinds of industries and companies (business-to-­business and
business-to-consumer markets) to illustrate the many dimensions of sustainable branding and
theories. Readers are able to understand research studies from different sustainable branding
points of view. In this sense, they are able to compare, contrast, and comprehend whether
“sustainable branding” is delivered similarly or otherwise in different parts of the world.
In this context, readers are able to acquire knowledge and understanding of (i) the key
issues in sustainable branding theories, (ii) the need for a strategic approach to planning and
campaign management, and (iii) new developments in sustainable branding theories. Also,
they are able to (i) analyse the complex web of stakeholder audiences that sustainable brand-
ing must address; (ii) develop and manage sustainable branding strategy and campaigns; and
(iii) adapt to the differing demands of stakeholders such as employees, customers, govern-
ment, the media, and other stakeholder audiences.
Our volume starts from the issues related to the development and changing uses of
­sustainable branding from different perspectives; human dimensions of environmental
change; people, energy, and society; planet, people, product, packaging, pricing, and pro-
motion; place branding and smart growth; place heritage; identity, community, image, and
reputation; public and brand engagement; technology and innovation; life cycle thinking
and the circular economy; waste management; (e)healthcare and well-being; (e)retailing;
ecosystems, and global change; transitions to a low carbon economy; and environmental
law. Moreover, this book, proposing a mixture of theory and practice with practical case
studies, aims at reaching primarily doctoral, postgraduate, graduate, and final-year under-
graduate students in suitability, business, and marketing, but it is also suitable for both man-
agers and decision-makers around the world too.
Research method-driven approach: The most exciting aspect of this book is that readers are
exposed to different methods and approaches applied to sustainable branding research. The
methods could range from qualitative, quantitative, case histories, case vignettes, case stud-
ies, interpretivistic, social narrative, and so forth. The selected authors/contributors work
for different universities and have different backgrounds, providing specific information
about industries and regions. Chapters, examples, and cases are international in coverage,
and their critical background should appeal to the growing number of marketing pro-
grammes in Europe, Asia, and North America.
Target market: Contemporary Issues in Sustainable Branding: Ethical, Social, and Environmental
Perspectives provides doctoral, postgraduate, graduate, and final-year undergraduate students
 Introduction to sustainable branding  3

in business and marketing with a comprehensive treatment of the nature of relationships

between environmental, economic, social, companies, brands, and stakeholders in different
areas and regions of the world. The text serves as an important resource for the sustain-
ability/environmental managers, marketing, and brand practitioners who are concerned
about the environment, with best-practice examples and actionable suggestions on how to
implement sustainable branding activities. It determines current practices and researches in
diverse areas, regions, and commercial and non-commercial sectors across the world. It is
very interesting for the readers to compare and contrast the brand values covering different
research methodology and settings. Readers find it stimulating to compare and contrast
different markets covering important aspects related to companies’ sustainability, brands,
identity, and reputation. The text is well-written and includes a mix of theory, primary
research findings, and practice that engenders confidence in the students, academics, and
practitioners of international sustainability, branding, identity, and marketing alike.
The book aims to reach: Doctoral students in business and management; graduate students
in business and management; postgraduate students in business and management; final-year
undergraduates in business and management; lecturers; and sustainability, branding, and
marketing practitioners.
The text can be used in the following courses: Corporate brand management; brand man-
agement; corporate, social, and environmental responsibility; sustainability; and consumer
behaviour.
These courses are very widely taught. All postgraduate and undergraduate students
­undertaking degrees in business and marketing are required to select at least two of these
courses. Moreover, all postgraduate and undergraduate students in business or management
have the option to take sustainable branding options, and many do. Sustainability is a re-
quired course for MBA programme worldwide and for many MSc programmes in business.
The text has a worldwide appeal.
The organisation of contemporary issues in branding: There are three main parts of the book.
Part I: People. This part explores the literature review, case studies and research, and how
concepts of business ethics, corporate social responsibility (CSR), corporate sustainability,
and inclusion impact branding. These subjects are analysed, paying special attention to people.
Part II: Planet. This part highlights the main advantages of the new approach of sus-
tainable branding and the related limits of the previous concepts in the same field of study.
Finally, Part II recommends areas for further research about the selected topics and proposes
several considerations about the complex subject, focusing on the analysis of the “Planet”.
Part III: Prosperity. This part tries to add insights to a clarification in the field of brand
management. The main aim of part III is to understand the subject in which sustainable
branding, sustainability, and inclusion theories are placed and how they influence the cre-
ation of prosperity.
The overview of all chapters and their contributors are described in the following text.
Introduction introduces the main topics and features of the book Contemporary Issues in
Sustainable Branding: Ethical, Social, and Environmental Perspectives.
Chapter 1, “Place heritage and CSR. Synergies between cultural tourism and corporate
branding” by Angela Bargenda (ESCE International Business School, INSEEC U. Research
Center), explores new corporate social responsibility (CSR) opportunities that arise from
­heritage-rich environments. The objectives of the chapter are to familiarise readers with sus-
tainable business practices that connect brands with cultural, societal, and environmental values.
4  Pantea Foroudi and Maria Palazzo

Chapter 2, “Let’s go green – planet, people, product, packaging, pricing, and promotion
(6Ps)” by Awele Achi (The Open University, Milton Keynes, UK), Ogechi Adeola (Lagos
Business School, Pan-Atlantic University, Nigeria), and Vanessa Burgal (Lagos Business
School, Pan-Atlantic University, Nigeria), focuses on explicating the notion of environ-
mental sustainability and the key issues embedded in it through the lens of the 6Ps – planet,
people, product, packaging, pricing, and promotion – of green marketing practices and
­putting it in context. Then, implications and recommendations of the chapter for sustain-
able development are highlighted.
Chapter 3, “Branding for social marketing: keys for success” by Luis Doña Toledo
(­University of Granada, Spain), Lucia Porcu (University of Granada, Spain), Juan Miguel
Rey Pino (University of Granada, Spain), and Maria Palazzo (University of Salerno, Italy),
highlights the fact that in recent years, both practitioners and academics have acknowledged
the need to expand the marketing scope, including the well-being of society, among its
main goals. Thus, this chapter aims to examine the role of branding in social marketing and
analyse successful strategies and practices within this field.
Chapter 4, “Sustainable brand management: goodwill as a tool to quantify brand
value from the perspective of stakeholders” by Ivana Podhorska (University of Zilina),
Wlodzimierz Sroka (WSB University & North-West University), and Jana Majerova
(­University of Z
­ ilina), highlights the fact that none of us can buy goodwill; we all have to
earn it. Goodwill, as an economic phenomenon, has attracted the attention of economists
since the 19th century. Both the creation and quantification of goodwill are interdisciplinary
issues affecting accounting, economics, law, marketing, sociology, and human resources. In
both economic theory and practice, goodwill is the difference between the market and the
book value of an enterprise. In this chapter, we will try to propose an econometric model of
quantifying the reputation of businesses based on residual income theory, through multiple
regression analysis.
Chapter 5, “Place, branding and smart growth” by Oluwayemisi Olomo (Lagos Business
School, Nigeria), Kehinde Mokwenyei (Lagos Business School, Nigeria), Olutayo Otubanjo
(Lagos Business School, Nigeria), and Ogechi Adeola (Lagos Business School, Nigeria),
seeks to provide managers with insights into how sustainable brands can be built using the
inter-related concepts of people, profits, and planet. The creating shared value concept is
examined, and a business case is made for building sustainable brands, using place, branding,
and smart growth as objectives.
Chapter 6, “Corporate social responsibility and employee volunteerism: a broad over-
view CSR through volunteerism” by Sudeepta Pradhan (IBS Hyderabad, IFHE Univer-
sity, India), Makhmoor Bashir Dar (Qassim University, Saudi Arabia), Sanjit Roy (UWA
Business School, Australia), and Bang Nguyen (Shanghai University, China), highlights
the fact that companies have been expected to be involved in socially responsible activities
since the last few decades. Corporations satisfy CSR expectations in many different ways.
Recently, companies have started involving their employees in their CSR activities to meet
the increasing demand to be socially responsible, under the guise of employee volunteerism
programmes. These programmes have enhanced effects for the employees and companies
equally. This chapter discusses CSR, employees that volunteer to work for the community,
as a part of employee volunteer programmes, different benefits of such programmes, and the
different types of volunteer programmes.
 Introduction to sustainable branding  5

Chapter 7, “Climate change, environmental auditing, and corporate/brand strategy”

by Maria Teresa Cuomo (University of Salerno, Italy), Rosa Maria Caprino (University
of Salerno, Italy), Cinzia Genovino (University of Salerno, Italy), and Debora Tortora
(­University of Milano – Bicocca, Italy), sets the scene for discussions on the relevance of
climate change and its impact on corporate and brand strategy, especially in terms of envi-
ronmental tools to mitigate climate risks (i.e. environmental auditing). In particular, this
chapter identifies the main challenges and recommendations linked with this framework.
Chapter 8, “Analysing the scientific evolution of sustainable technology research in
Business and Management Science” by Morteza Akbari (University of Tehran, Tehran,
Iran), Rahime Zaman Fashami (Alzahra University, Tehran, Iran), and Maryam Khodayari
(Shahid Beheshti University, Tehran, Iran), reviews the trends and theories in the field of
sustainable technology with the bibliometric method. By presenting statistical and graph-
ical information, five clusters in the co-citation and eight clusters in the co-coupling were
introduced. Finally, it has been shown that adequate studies have not been performed in
the field of sustainable technology demand, especially in consumer behaviour, consumption
trends, and social dynamism.
Chapter 9, “Waste to Wealth (W2W): the need for a social enterprise approach to turn
Waste into Wealth” by David Luigi Fuschi, (KiiT University, Odisha, India), Alireza
Nazarian (University of Roehampton, London), and Pantea Foroudi (Middlesex University
London, United Kingdom), highlights the fact that waste is currently havoc; however, it
could be a source of wealth and work. The problem is to educate people and to make them
learn how to benefit from waste on the one side and how to reduce waste on the other. As
waste management is considered a “dirty job”, social enterprise and education could be the
only way forward to address and solve the problem of waste management.
Chapter 10, “Life cycle thinking and the circular economy” by Octavio Ibarra
(­Universidad Del Norte, Barranquilla-Colombia), Maria Carolina Ovalle (Universidad Del
Norte, Barranquilla-Colombia), and Maria Palazzo (University of Salerno, Italy), highlights
the fact that new trends concerning sustainable good and services have been discussed world-
wide, from distinguished organisations like United Nations to small businesses. As part of
the commitment, the United Nations created the SDGs that seek to transform the world
through actions for people, planet, and prosperity. In order to contribute to humankind
problems, it is indispensable that countries, stakeholders, and collaborative partnership em-
bark on the plan. Throughout this chapter, we will focus our attention in Goal 9 “Industry,
innovation and Infrastructure”, which is about building resilient infrastructure, promoting
inclusive and sustainable industrialisation, and fostering innovation, as well as in the Goal
12 “Responsible Consumption and Production”, which ensures sustainable consumption.
Chapter 11, “Transition to a low carbon economy: opportunities and challenges” by
Seyedeh Asieh H. Tabaghdehi (Brunel University London), highlights the fact that it is
well known that the way we use energy and the process we put in place to supply energy in
every economy play a crucial role in the world’s emissions of carbon dioxide. This chapter
reviews both the economic and social dimensions of efficient transition to a low carbon
economy. There is an increasing body of literature investigating the impact and implications
of a low-carbon economy in high polluting countries and industries. Hence, here we dis-
cuss different dimensions which are important for climate change policy and for an efficient
transition to a low-carbon economy and its implication on brand reputation.
6  Pantea Foroudi and Maria Palazzo

Chapter 12, “Global political ecology” by Francisco J. Montoro Ríos (University of

Granada, Spain), focuses on the different philosophical bases of the political stances regard-
ing the deterioration of the environment. In this framework, the ideology of ecologism is
defined as a vision of the world through the prism of ecology. Environmental awareness
has been shaped by a series of events taking place in the past 50 years. Moreover, recent
global social movements have propelled ecologism into newspaper headlines and to the top
of political agendas (e.g. Fridays for Future, Greta Thunberg, Green New Deal). However,
the positions on political ecology today are, for the most part, founded on technological
development rather than on the reduction of consumption of natural resources. The current
political stance, therefore, hardly contributes to attaining the objective of sustainable de-
velopment in a timeframe to avoid catastrophe. The objective of this chapter is to identify
the different political stances as to environmental deterioration and their influence in the
coming years on marketing management and branding.
Chapter 13, “Multicultural identity. Developing a comprehensive understanding of
­multicultural identity, its aspects and influence on business adaptability and sustainable brand”
by Maria Jerez-Jerez, aims to develop a comprehensive understanding of m ­ ulticultural iden-
tity, its aspects (communication barriers, norms and role, beliefs and values, stereotyping,
ethnocentrism, and globalisation), and its influence on business adaptability (cross-cultural
communication and cultural intelligence) and sustainable brand. Practitioners and research-
ers have recognised the significance of multiculturalism, and noticed its connections to
intergroup relations, mental health, and academic and occupational success.
Chapter 14, “The unexpected players in branding and advertising. Advertising shake-
out, traditional folk media and influencer marketing” by Kelly Tafoya, Nastaran Norouzi
­R ichards-Carpenter, focuses on the branding through fashion bloggers and influencers and
the way they revolutionised the concepts and theories of traditional advertising and then
branding. For this purpose, the specific fashion bloggers that will be used in the case study to
showcase how influencers in the fashion space in particular affected the advertising industry
in its closures of traditional folk media titles such as fashion magazines and other print types,
due to their increased effectiveness in advertising and their increase in advertising rates.
Chapter 15, “Exploring value co-creation concept: a bibliometric analysis of 20 years of
research and theory” by Yousef Alqayed (Middlesex University London, UK), Kaouther
Kooli (Bournemouth University, UK), Pantea Foroudi (Middlesex University London,
UK), Mohammad Foroudi (Foroudi Consultancy), and Maria Antonella Ferri (Universitas
Mercatorum, Italy), highlights the fact that since 2004, value co-creation has been a focus
of considerable attention. Hence, understanding the intellectual structure of this construct
is becoming increasingly important. This study investigates value co-creation citations and
analyses its knowledge structure by applying a bibliometric analysis using 506 articles. A
multidimensional scaling (MDS) method is used to identify the intellectual structure under-
lying the value co-creation (VCC). The citation analysis revealed value co-creation knowl-
edge structure. This is the first comprehensive article about value co-creation which offers
a general overview of the leading trends.
Chapter 16, “Sustainability and social innovation: in the case of Covid-19 pandemic”
by Sadaf Sartipi (Tehran University, Iran), Pantea Foroudi (Middlesex University, L ­ ondon),
Maria Palazzo (University of Salerno, Italy), and Mahmoud Ahmadpour Daryani (­Tehran
University, Iran), focuses on the delivery of sustainability through social innovation in the
post-COVID-19 pandemic. Today, entrepreneurs and companies lean onto social innovation
 Introduction to sustainable branding  7

movements to reduce multiple problems related to social contexts. One of the most im-
portant problems of the world today is Covid-19 pandemic that augments the ­necessity
of social innovations to protect people, decrease its negative effects, and to move through
sustainability.
Chapter 17, “Sustainable branding in healthcare within Generation Z in a developing
economy” by Durga Vellore-Nagarajan (Middlesex University, UK), Constantinos-­Vasilios
Priporas (Middlesex University, UK), and Mark McPherson (Middlesex University), consid-
ers the fact that sustainable branding occurs when companies create and maintain identities
in the long term. Furthermore, brands are deemed sustainable provided they clearly indicate
value added to consumers continuously over time. The chapter will begin by explaining the
evolution of the concept of sustainable branding by citing contemporary literature. It will
then examine information processing in the digital age, the effects of Generation Z con-
sumers, and a literature review of the effects on sustainable branding; the shifting dynamics
in the healthcare sector via recent reports will be addressed. The chapter will also illustrate
the case of a developing economy and the effects on sustainable branding. The chapter will
conclude by highlighting the implications of sustainable branding within healthcare for
developing economies as well as for the healthcare sector.
Chapter 18, “The market reaction to unexpected earnings via discretionary accruals
and sustainability reporting” by Javad Izadi Z.D. (University of West London, UK), ­Maria
­Palazzo (University of Salerno, Italy), and Alfonso Siano (University of Salerno, Italy)
­examines the impact of earnings management practices on the sustainability reporting and
branding position among the listed companies in the UK. We pay particular attention to
the roles of discretionary accruals and find that they are negatively related to future stock
returns.

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Further reading
Ashworth, G. J., & Tunbridge, J. E. (2000). A geography of heritage: Power, culture and economy. London:
Arnold.
Balmer, J. M. T., & Stotvig, S. (1997). Corporate identity and private banking: A review and case
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371–386.
Notes
1 Note: Lecturer in Accounting, London School of Economics and Political Science.
2 Title of the study: Oxford English Dictionary – Wills and Inventories of the Northern Counties
of England (publication of the Surtees Society, 1835) 352, “I gyue to John Stephen… my whole
interest and good will of my Quarell”.
3 Title of the study: Reproduced in The Accountant, 1891, pp. 1828 et seq.
4 Title of the study: Reproduced in The Accountant, 1914, pp. 91 et seq.
5 Note: Sharpe, W. F. (1964). Capital Asset Prices: A Theory of Market Equilibrium under Condi-
tions of Risk. Journal of Finance. 19(3), 425–442. Markowitz, H.M. (1999). The Early History of
Portfolio Theory: 1600–1960. Financial Analysts Journal. 55(4).
1 http://pwc.hello.thesocialcollective.co/support/solutions/articles/14000066111-what-is-skills-
based-volunteering-.
2 www.pwc.com.
3 www.pwc.com.
1 https://www.un.org/en/land-natural-resources-conflict/.
2 www.waste-management-world.com.
3 Data about glass.
4 The percentage of a metal in discards that is actually recycled.
5 The share of old scrap in the total scrap flow.
6 Aluminium, cobalt, chromium, copper, gold, iron, lead, manganese, niobium, nickel, palladium,
platinum, rhenium, rhodium, silver, tin, titanium and zinc.
1 SR may also be computed directly from the Return index of Datastream, but with less accuracy.
2 Even though CA is referred to Current Accrual, it is in fact effectively a net amount comprising
expense accruals, revenue accruals, expense deferrals and revenue deferrals.
3 Note that a positive accrual is income-increasing and a negative accrual is income-decreasing.
4 DCA_H is defined as high discretionary accruals and shows the positive accruals. DAC_L pres-
ents low discretionary accruals and it is negative.
5 Gujarati (2003) shows that the assumptions of the pooled sample that the slope coefficients and the
intercept are constant across firms and time.