EVALUATING THE EFFECT OF WISDOM ON CORPORATE MANAGERS’ INTENTIONS TO CONTRIBUTE TO NON-STATE SOCIAL PROTECTION IN THE FUTURE

Authors

Keywords:

Decision-making, Non-state social protection, Health crisis, Social responsibility, Wisdom, Intentions

Abstract

Topicality: Management literature largely frames business contributions to a society based on concepts of ‘responsibility’ and ‘business case’. Even though the ‘responsibility’ discourse is considered less effective, experiments on the ‘business case’ did not result in a strong positive intention of corporate managers towards society. The underpinnings of these two concepts are called into question in periods of crisis and uncertainty, where wisdom is especially required for decision-making.

The research aim: This study aims to assess the effects of wisdom on corporate managers’ intentions to contribute to non-state social protection in the future.

Methodology: The authors conducted a survey and mediation analysis of a serial multiple mediation model using Andrew Hayes’s PROCESS Macro as an add-in SPSS.

Findings: The research finds a strong relationship between wisdom and corporate managers’ good intentions and concludes that wise corporate managers have good intentions to contribute to non-state social protection in the future. Wise corporate managers have good intentions towards society.

Novelty: This research pushes the boundaries of SPW theory by empirically showing that wisdom also leads to good intentions. In addition, the study contributes to the scant literature on wise management decision-making and on non-state social protection.

JEL Code: M140

Paper classification: Research paper.

Author Biographies

Richmond Baah, RISEBA University of Applied Sciences, Latvia; United Nations Industrial Development Organization, Austria

Ph.D. Candidate at Joint Doctoral Programme of RISEBA University of Applied Sciences, Riga, Latvia. 

Tatjana Volkova, BA School of Business and Finance, Latvia

Tatjana Volkova Ph.D. is a Professor of Strategic Management and Innovation Management at BA School of Business and Finance, Riga, Latvia. 

Iveta Ludviga, RISEBA University of Applied Sciences, Latvia

Iveta Ludviga Ph.D. is a Professor, Doctoral and Postgraduate Study Programme Director at RISEBA University of Applied Sciences, Riga, Latvia. 

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Published

11.12.2023