Publisher: Virtus Interpress (Total: 7 journals)   [Sort by number of followers]

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Corporate Board : Role, Duties and Composition     Open Access  
Corporate Governance and Organizational Behavior Review     Open Access   (Followers: 4)
Corporate Governance and Sustainability Review     Open Access   (Followers: 4)
Corporate Law & Governance Review     Hybrid Journal   (Followers: 2)
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J. of Governance and Regulation     Open Access   (Followers: 1)
Risk Governance and Control : Financial Markets & Institutions     Open Access   (Followers: 1)
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Journal of Governance and Regulation
Number of Followers: 1  

  This is an Open Access Journal Open Access journal
ISSN (Print) 2220-9352 - ISSN (Online) 2306-6784
Published by Virtus Interpress Homepage  [7 journals]
  • Protection of employees in international employment contracts
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      This study investigated the level of labor protection as per the international labor contract. Thus, the way applicable law is applied to international labor relations in Jordan and other Arab countries such as Kuwait and Bahrain, and Rome I Regulation were discussed (Council of the European Union, 2008). This was done to evaluate labor protection in Jordan compared to the other countries. Attempts were made to raise the problem, delineate the ongoing situation in Jordan, and suggest suitable solutions. The analytical method, and the survey of judiciary literature and relevant legal documents showed labor protection in Jordan is not suitable. This is because the Jordanian judiciary is contradictory regarding the interpretation of occurrences related to determining the applicable law, for there are no clear, explicit legal provisions in this regard. It was also suggested that the Jordanian legislator intervenes to protect the labor and provides legal regulations on the application of law. This study has provided the fertile soil for beneficiaries to enhance labor protection to make it conform to international standards, and for future research to aim at this purpose, and deal with labor rights in remote work or work performed in more than one country.

      Keywords: Choice of Law, Conflict of Laws, Contracting Parties, Labor Relations, Lex Voluntatis

      Authors' individual contribution: Conceptualization — Z.K.A.-E.; Methodology — Z.K.A.-E.; Software — W.F.M.; Validation — Z.K.A.-E.; Formal Analysis — Z.K.A.-E.; Investigation — Z.K.A.-E.; Resources — W.F.M.; Writing — Original Draft — Z.K.A.-E.; Writing — Review & Editing — W.F.M.; Visualization — Z.K.A.-E.

      Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

      JEL Classification: J52, J53, J54, J58, J59, J61, J68, K12, K15, K20, K31, K33

      Received: 01.07.2022
      Accepted: 23.01.2023
      Published online: 25.01.2023

      How to cite this paper: Al-Enizi, Z. K., & Mahameed, W. F. (2023). Protection of employees in international employment contracts. Journal of Governance & Regulation, 12(1), 75–81. https://doi.org/10.22495/jgrv12i1art7

      2023-01-25T13:49:28Z
       
  • The bargain purchase option: Should it be more than an option'
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      This study examines the bargain purchase option, which gives the lessee the option to buy the leased asset at the end of the lease period at a price significantly less than its fair market value. The study analyses the approach that the laws of Jordan and the United Arab Emirates (UAE) employ to enable the lessee to practice this option (Al-Azzawi, 2013). To achieve this goal, the main foundations and characteristics of the lessee's option to purchase are studied under both jurisdictions showing that while Jordanian law treats the option to purchase as a contractual choice (Al Khasawana, 2005), the UAE law moved further to protect the option by law. This difference is discussed in terms of its impact on the degree of protection that prospective users of financial leases may enjoy with regard to the bargain purchase option. This article concludes with some results and recommendations for sake of improvement, mainly the need to embrace legal protection of the option to purchase under the Jordanian legal system, and the need to grant the lessee the right to seek compensation in the case of lessor's failure to transfer the leased property within the period set by the law in the UAE.

      Keywords: Financial Lease, Lessor, Lessee, Option to Purchase, Jordan, UAE

      Authors' individual contribution: Conceptualization — T.K., N.A.-H., and M.A.A.; Methodology — N.A.-H.; Resources — T.K., N.A.-H., and M.A.A.; Writing — Original Draft — T.K. and N.A.-H.; Writing — Review & Editing — M.A.A.; Supervision — T.K. and M.A.A.

      Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

      JEL Classification: K12, K20, K25

      Received: 19.06.2022
      Accepted: 20.01.2023
      Published online: 23.01.2023

      How to cite this paper: Kameel, T., Al Hajaya, N., & Alqudah, M. A. (2023). The bargain purchase option: Should it be more than an option? Journal of Governance & Regulation, 12(1), 68–74. https://doi.org/10.22495/jgrv12i1art6

      2023-01-23T10:33:59Z
       
  • The influence of debt-to-equity ratio, capital intensity ratio, and
           profitability on effective tax rate in the tourism sector
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      Masri and Martani (2012) explain agency problems that arise with the existence of influenceive tax rate due to differences in interests between the shareholder and management. Influence tax rate aims to apply tax regulations correctly to achieve the expected profit efficiency. This study examines the influence of debt level, capital intensity ratio (CIR), and company profitability on influenceive tax rates. Effective tax rate is measured in this paper, the debt level is measured using debt-to-equity ratio (DER), profitability is measured using return on assets (ROA) and the CIR shows property fixed assets in the company by compared total assets owned. The population in this study is the tourism sub-sector that has been audited and listed on the Indonesia Stock Exchange (IDX). This research period was conducted for 3 (three) years using a purposive sampling method. In this study, the data analysis techniques used were descriptive statistical analysis, classical assumption test, multiple linear regression analysis, F-test, t-test, and coefficient of determination test using the Statistical Product and Service Solutions (SPSS) program. The results of this study indicate that the level of debt, capital intensity ratio, and company profitability does not influence effective tax rate. This shows that if DER, ROA, and CIR have increased or decreased, the effective tax rate is not affected.

      Keywords: Effective Tax Rate, Debt-to-Equity Ratio, Capital Intensity Ratio, Profitability

      Authors' individual contribution: Conceptualization — M. and A.C.; Investigation — U.S.; Resources — S.R.D., T.G., and S.; Writing — M. and G.S.

      Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

      JEL Classification: D7, M2, M4, Z3

      Received: 03.04.2022
      Accepted: 17.01.2023
      Published online: 20.01.2023

      How to cite this paper: Chang, A., Meiryani, Sumarwan, U., Gunawan, T., Devi, S. R., Samukri, & Salim, G. (2023). The influence of debt-to-equity ratio, capital intensity ratio, and profitability on effective tax rate in the tourism sector. Journal of Governance & Regulation, 12(1), 53–67. https://doi.org/10.22495/jgrv12i1art5

      2023-01-20T14:34:18Z
       
  • Bibliometric review of research on corporate governance and firm value
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      This study aims to provide a bibliometric review (Zupic & Čater, 2015; Hallinger, 2019) of the corporate governance and firm value knowledge base. This paper is guided by PRISMA (Preferred Reporting Items for Systematic Reviews and Meta-Analyses) and based on the Scopus index for determining and extracting data. A total of 1,661 articles from 1983 to 2021 are included. The USA, the UK, and Australia are the leaders in the literature. A significant gap exists for further research from developing and non-Western settings. We identified authors with the highest citations (Danny Miller, Luc Renneboog, and Kose John), the most prominent authors based on the citation for each document (Danny Miller, Luc Renneboog, and Igor Filatotchev), and the most highly cited documents (“Higher market valuation of companies with a small board of directors”, Yermack, 1996; “Disentangling the incentive and entrenchment effects of large shareholdings”, Claessens et al., 2002, and “Boards: Does one size fit all?”, Coles et al., 2008). Besides, the review reveals an intellectual structure of the corporate governance and firm value knowledge base in three schools of thought: agency theory, firm value, and boards of directors. Our findings provide an overview of top-influential research for new scholars and enable us to identify highly cited theoretical foundations quickly.

      Keywords: Bibliometric Review, Agency Theory, Firm Value, Board of Directors, Corporate Finance, Corporate Governance

      Authors' individual contribution: Conceptualization — A.T. and S.Z.; Methodology — A.T. and S.Z.; Software — A.T. and S.Z.; Validation — A.T. and S.Z.; Formal Analysis — A.T. and S.Z.; Writing — Original Draft — A.T. and S.Z.; Writing — Review & Editing — S.Z.; Visualization — A.T. and S.Z.; Supervision — S.Z.; Project Administration — S.Z.

      Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

      JEL Classification: G32, G34, O16

      Received: 08.06.2022
      Accepted: 16.01.2023
      Published online: 18.01.2023

      How to cite this paper: Thamaree, A., & Zaby, S. (2023). Bibliometric review of research on corporate governance and firm value. Journal of Governance & Regulation, 12(1), 42–52. https://doi.org/10.22495/jgrv12i1art4

      2023-01-18T12:29:24Z
       
  • Property right under the Ottoman legal taxation system
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      This paper aims to analyze the Ottoman taxation (timar) system which resembles medieval European feudalism. In this article, a chronological approach and contemporary scientific-methodological techniques have been used, as well as analytical and interpretation methods to clarify the Ottoman legal rules that regulate property rights focused in Kosovo. Based on this research, it has been found that the Ottoman government declared that all rural agricultural land belonged to the state, as well as that the peasant who worked on it had the status of an inherited tenant, and as a reward for his work he had the right to use it but as foreign property. This paper concludes that only a part of villagers representatives was integrated into the ranks of the spahis and the leaders of the Ottoman state, and Albanians had and kept such privileges until the end of foreign rule. This article is important to reflect on the influence that the Ottoman timar system had on the establishment of the Ottoman Empire in the countries which were its vassals, even though it has its own weaknesses (Kurmus & Yapucu, 2020).

      Keywords: Property, Ottoman, Tax Law, Timar System, Spahis, Kosovo, International, Indications, Influence

      Authors' individual contribution: Conceptualization — I.A. and M.L.; Methodology — I.A. and M.L.; Data Curation — I.A.; Writing — Original Draft — I.A. and M.L.; Writing — Review & Editing — I.A. and M.L.

      Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

      JEL Classification: K00, K11, K34, K33, K38, N00

      Received: 04.04.2022
      Accepted: 12.01.2023
      Published online: 16.01.2023

      How to cite this paper: Ahmeti, I., & Lecaj, M. (2023). Property right under the Ottoman legal taxation system. Journal of Governance & Regulation, 12(1), 33–41. https://doi.org/10.22495/jgrv12i1art3

      2023-01-16T14:46:43Z
       
  • Auditing quality between share price and liquidity regarding investor's
           decision
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      Financial statements and the fact that many investors depend on the most critical outputs of the auditing quality. We documented the impact of audit quality as measured by audit firm size, tenure, fees, and firm experience on the stock prices and the liquidity of stock companies listed on the Amman Stock Exchange (ASE). The research adopted the deductive approach considering the least squares dummy variable approach following Pham et al. (2020), Sumiadji et al. (2019), Ugwunta et al. (2018), and Al-Thuneibat et al. (2011) to study the relationship between time-varying predictors and outcomes of 185 shareholding companies listed on ASE from 2016 to 2020. The characteristics of an audit firm vary in their effects on both the stock price and the liquidity. Management of the listed companies should be discussed to address the barriers that limit the impact of audit quality on the reliability of information associated with financial statements aiming to reduce information asymmetry and boost investor confidence, and then the share price should rise, and smaller audit firms should be encouraged to perform more specific audit assignments.

      Keywords: Auditing Quality, Investors' Decisions, Stock Price, Liquidity, Amman Stock Exchange (ASE), Jordan

      Authors' individual contribution: Conceptualization — N.T. and R.H.A.; Methodology — R.H.A.; Formal Analysis — R.H.A.; Investigation — N.T. and R.H.A.; Data Curation — N.T. and R.H.A.; Writing — Original Draft — N.T. and R.H.A.; Writing — Review & Editing — N.T. and R.H.A.; Visualization — N.T. and R.H.A.; Supervision — R.H.A.; Project Administration — N.T. and R.H.A.

      Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

      JEL Classification: C22, G10, G11

      Received: 06.06.2022
      Accepted: 10.01.2023
      Published online: 13.01.2023

      How to cite this paper: Thuneibat, N., & AlHalaseh, R. H. (2023). Auditing quality between share price and liquidity regarding investor's decision. Journal of Governance & Regulation, 12(1), 22–32. https://doi.org/10.22495/jgrv12i1art2

      2023-01-13T14:17:43Z
       
  • The effect of workload and burnout on auditor performance during the
           COVID-19 pandemic
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The COVID-19 pandemic has put an auditor under pressure to help clients with financial reports. The objective of this research is to investigate the effect of workload and burnout on auditor performance during the COVID-19 pandemic of external auditors in Jakarta. This research employs a quantitative method with a convenience sampling approach. The sample of this study was 101 respondents from 34 public accounting firms in the Jakarta Capital Special Region that were active and registered on the website database of the Financial Services Authority (OJK). The results showed that workload had a positive effect on auditor performance while burnout has a negative effect on auditor performance. This shows that the high workload tends to affect the auditor's motivation to improve the auditor's performance and the high burnout tends to affect the auditor's performance decline.

      Keywords: Workload, Burnout, Auditor Performance, External Auditors, COVID-19

      Authors' individual contribution: Conceptualization — G.S. and M.; Investigation — M.; Resources — A.A. and M.; Writing — G.S. and J.S.

      Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

      JEL Classification: M2, M4, G3

      Received: 03.04.2022
      Accepted: 09.01.2023
      Published online: 11.01.2023

      How to cite this paper: Soepriyanto, G., Meiryani, Amelia, A., & Sudrajat, J. (2023). The effect of workload and burnout on auditor performance during the COVID-19 pandemic. Journal of Governance & Regulation, 12(1), 8–21. https://doi.org/10.22495/jgrv12i1art1

      2023-01-11T13:50:43Z
       
  • Editorial: Good governance and regulation for humanity and no one is left
           behind in a turbulent situation
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      This issue of the Journal of Governance and Regulation was published on January 9, 2023.

      By clicking the button "Download This Article" you will gain direct access to the Editorial of the issue.

      How to cite: Ali, M. M. (2022). Editorial: Good governance and regulation for humanity and no one is left behind in a turbulent situation [Special issue]. Journal of Governance and Regulation, 11(4), 198–200. https://doi.org/10.22495/jgrv11i4sieditorial

      2023-01-09T11:48:35Z
       
  • The role of policy actors in determining the direction of disruptive
           innovation policy
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The issue of the presence of online transportation is used as the right momentum to steal the government's attention to discuss it on the policy agenda. The role of policy actors is a critical element in the process of forming innovation policies to disrupt the transportation sector. Multi-policy actors, such as governments, citizens, entrepreneurs, and investors, can jointly influence the development of innovation policies that disrupt the transportation sector (Han, 2022). It will be interesting to analyze the role of policy actors in online transportation problems using the multiple stream analysis approach. This study aims to identify the direction policy actors' play in policy-making by the desired orientation. This research method uses qualitative analysis. Following the multiple streams framework (MSF) flow, we use content analysis to support qualitative analysis. NVivo 12 Plus application support also plays a vital role in collecting data from reputable electronic news media. This study finds that the direction of online transportation policy has not fully fulfilled the interests of online transportation company actors and conventional transportation. The tug of war interests makes policies constantly change. Policies that regulate online transportation are still adjusting to the state of the domestic transportation market. Although this research has answered the research objectives, our paper can still not fully explain the problem of online transportation at the district and city levels. Based on these limitations, we recommend that further research can identify issues at the district and city levels.

      Keywords: Disruptive Innovation, Public Policy, Online Transportation

      Authors' individual contribution: Conceptualization — P.A. and A.N.; Methodology — P.A.; Formal Analysis — P.A.; — Writing — Original Draft — P.A.; Writing — Review & Editing — A.N. and D.M.; Supervision — A.N.; Project Administration — P.A. and A.N.

      Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

      Acknowledgements: The Authors gratefully acknowledge Universitas Muhammadiyah Yogyakarta and Universitas Islam Riau for all their support and resources.

      JEL Classification: O32, O38, R4

      Received: 16.06.2022
      Accepted: 23.12.2022
      Published online: 27.12.2022

      How to cite this paper: Amri, P., Nurmandi, A., & Mutiarin, D. (2022). The role of policy actors in determining the direction of disruptive innovation policy [Special issue]. Journal of Governance & Regulation, 11(4), 374–386. https://doi.org/10.22495/jgrv11i4siart18

      2022-12-27T14:13:09Z
       
  • Does the expertise of the audit committee chairperson moderate the
           association between audit committee attributes and firm performance'
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The current research aims to examine how audit committee (AC) attributes affect firm performance in the finance sector. Its main goal is to determine if the audit committee chairperson's (ACC) experience has a moderating effect on the relationship between AC attributes and the financial firm's performance. The directors who have sufficient experience are valued as intellectual resources by the companies for which they make decisions (Beasley, 1996). In addition, Turley and Zaman (2007) found that the audit committee chairperson's individual power has a substantial effect on firm performance. This study used data from 44 financial sector companies listed on the Saudi Stock Exchange from 2015 to 2019, totalling 195 firm-year observations. The Pearson correlation coefficient and multiple linear regressions were employed. According to the study's results, AC independence has a significant impact on the performance of financial companies. However, the AC chairman's expertise (ACCEXP) had no moderating impact on the association between AC independence and firm performance. On the contrary, the findings indicate that ACCEXP has a significant moderating impact on the association between AC meetings, AC size and firm performance.

      Keywords: Audit Committee, Audit Committee Chairperson's Expertise, Firm Performance, Financial Companies, Saudi Arabia

      Authors' individual contribution: The Author is responsible for all the contributions to the paper according to CRediT (Contributor Roles Taxonomy) standards.

      Declaration of conflicting interests: The Author declares that there is no conflict of interest.

      Acknowledgements: The Author gratefully thanks the Deanship of Scientific Research and Vice Presidency for Graduate Studies and Scientific Research at King Faisal University (Saudi Arabia) for supporting this research as a part of the Ambitious Researcher track (Project No. GRANT998).

      JEL Classification: M480

      Received: 14.08.2022
      Accepted: 16.12.2022
      Published online: 20.12.2022

      How to cite this paper: Al-Matari, Y. A. (2022). Does the expertise of the audit committee chairperson moderate the association between audit committee attributes and firm performance? [Special issue]. Journal of Governance & Regulation, 11(4), 365–373. https://doi.org/10.22495/jgrv11i4siart17

      2022-12-20T15:04:05Z
       
  • Iceland's financial crisis 2008: Not a normal accident
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The failure of 97% of Iceland's financial system in October 2008, was not solely due to the tight coupling and complexity of the financial system but was the result of bankers and their owners, who took actions that violated system rules and regulations so that complete system failure was inevitable. Regulators were silent during such activities. Actions taken by bankers, and others, have been termed agentic behaviour — willful violation of system rules and regulations in a way that brings the entire system down (Perrow, 2010). This paper demonstrates via a case study that agentic behaviour was facilitated by a set of institutions, actors, Icelanders, and underlying context; which we term enablers. The role of enablers extends the concept of agentic behaviour. Such conduct examines bad behaviour, allows systemic analysis, and points to several factors that extend financial crises beyond Iceland. In a brief period, Iceland went from statism to neoliberalism with profound ill effects on its financial system, its public institutions along with its relationships with other nations.

      Keywords: Agentic Behaviour, Enablers, Systemic Failure, Regulation

      Authors' individual contribution: Conceptualization — M.B. and T.O.S.; Methodology — M.B.; Validation — T.O.S.; Formal Analysis — M.B.; Investigation — M.B. and T.O.S.; Resources — T.O.S.; Writing — Original Draft — M.B.; Writing — Review & Editing — M.B. and T.O.S.; Visualization — T.O.S.

      Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

      JEL Classification: M480, H1, M14, G30

      Received: 08.07.2022
      Accepted: 14.12.2022
      Published online: 16.12.2022

      How to cite this paper: Bryant, M., & Sigurjonsson, T. O. (2022). Iceland's financial crisis 2008: Not a normal accident [Special issue]. Journal of Governance & Regulation, 11(4), 354–364. https://doi.org/10.22495/jgrv11i4siart16

      2022-12-16T09:48:40Z
       
  • Competitiveness and financial relations in the Greek bottled water
           manufacturing firms
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The bottled water sector in Greece exhibits particular characteristics. After a downturn caused by the COVID-19 pandemic, investments are being made and strategic partnerships are developing, aiming both to increase their competitiveness and to choose the proper strategy for their development. On the other hand, competitiveness is a concept widely used and for that reason has occupied the literature a lot (Fischer & Schornberg, 2007). As a result, it holds great importance to identify and assess the factors that affect competitiveness, performing as a tool for the choice of the proper strategy (Chikán, Czakó, Kiss-Dobronyi, & Losonci, 2022). Of the two main ways for the competitiveness estimation, one with Michael Porter's diamond and the other one with the use of financial indexes, the second one was selected for this paper. All the Greek bottled water manufacturing firms which published their annual balance sheets for the 2016–2020 period were studied and used for the creation of variables. Several economic parameters are studied to determine competitiveness, where market share and profitability account for the most. According to the results, profits, sales, and loans contribute significantly to competitiveness, playing a major role in the determination of strategies that specific firms may follow.

      Keywords: Competitiveness, Profitability, Market Share, Greece, Bottled Water Manufacturing Companies

      Authors' individual contribution: Conceptualization — C.K.; Methodology — C.K.; Formal Analysis — M.T.; Investigation — S.K. Writing — Original Draft — C.K. and M.T.; Writing — Review & Editing — M.T. and I.K.; Supervision — C.K.

      Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

      JEL Classification: C3, D4, L66

      Received: 10.08.2022
      Accepted: 09.12.2022
      Published online: 13.12.2022

      How to cite this paper: Konstantinidis, C., Tsiouni, M., Kourtesi, S., & Katrakylidis, I. (2022). Competitiveness and financial relations in the Greek bottled water manufacturing firms [Special issue]. Journal of Governance & Regulation, 11(4), 347–353. https://doi.org/10.22495/jgrv11i4siart15

      2022-12-13T10:08:14Z
       
  • Factors affecting stock price: Evidence from commercial banks in the
           developing market
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      This study aims to investigate the impact of microeconomic and macroeconomic factors on the market price per share using panel data from 13 listed Jordanian commercial banks during the period 2010–2021. Based on a microeconomic level the firm-specific variables are earnings per share (EPS), dividend per share (DPS), price-earnings ratio (PE), book value per share (BV), return on assets (ROA), and size (S). Similarly, gross domestic product (GDP), inflation (INF), and money supply (MS) were chosen as independent variables for the macroeconomics whereas the company's dependent variable is market price per share (MPS). Earnings per share are the most internal and external factors affecting the share price (Arshad, Arshaad, Yousaf, & Jamil, 2015). This paper has investigated the influence of bank-specific and macroeconomic factors on the share price of Jordanian commercial banks using multiple regression models. Based on the regression results, the coefficient of EPS is positive at the 1% level of significance. implying that the greater the EPS, the higher the MPS. The same positive impacts for DPS, ROA, and S are considered major predictors of stock prices in Jordan. Volume was discovered to be the most important determining variable impacting stock price among the factors. This indicates that the bigger the company's market capitalization, the higher the stock price. Major variables that impact the stock price include macroeconomic data such as GDP and MS.

      Keywords: Market Price per Share, Earnings per Share, Divided per Share, Price-Earnings Ratio, Book Value per Share, Return on Assets, Size, Gross Domestic Product, Inflation, Money Supply

      Authors' individual contribution: Conceptualization — M.A.-D. and G.N.A.-E.; Methodology — M.A.-D. and G.N.A.-E.; Software — G.N.A.-E.; Validation — M.A.-D., G.N.A.-E., and W.A.; Formal Analysis — M.A.-D., G.N.A.-E., and W.A.; Investigation — M.A.-D., G.N.A.-E., and W.A.; Resources — M.A.-D. and G.N.A.-E.; Data Curation — M.A.-D. and G.N.A.-E.; Writing — Original Draft — M.A.-D., G.N.A.-E., and W.A.; Writing — Review & Editing — M.A.-D. and W.A.; Visualization — M.A.-D., G.N.A.-E., and W.A.; Supervision — M.A.-D.; Project Administration — M.A.-D.

      Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

      JEL Classification: G1, G2, G100, O16

      Received: 30.06.2022
      Accepted: 05.12.2022
      Published online: 07.12.2022

      How to cite this paper: Al-Dwiry, M., Al-Eitan, G. N., & Amira, W. (2022). Factors affecting stock price: Evidence from commercial banks in the developing market [Special issue]. Journal of Governance & Regulation, 11(4), 339–346. https://doi.org/10.22495/jgrv11i4siart14

      2022-12-07T15:09:55Z
       
  • Innovation management of school cooperative using business incubator model
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      This study aims to formulate an innovative business incubator model by optimizing the school cooperative's role to enhance the entrepreneurial spirit of vocational high school students in Indonesia. The method used in this study was the research and development (R&D) method from Thiagarajan, Semmel, and Semmel (1974), namely the Four-D model (define, design, develop, and disseminate) to determine a business incubator model which is compatible with school cooperatives design. Data were collected by questionnaire and interviews of students and teachers in several vocational high schools located in Central Java, Indonesia. The research resulted in the innovation management of school cooperatives which is integrated into a new business incubator model which has successfully improved the knowledge, practical skills, and entrepreneurial spirit of students in observed schools. The model consists of three stages, including planning, implementation, and evaluation which implies that collaboration among school stakeholders is key in implementing this business incubator model in order to achieve the same goal; strengthening students' entrepreneurial spirit. The model defined in this result could be implemented in other schools to be analyzed further in terms of its effectiveness.

      Keywords: Development Model, School Cooperative, Business Incubator, Entrepreneurial Spirit, Vocational School

      Authors' individual contribution: Conceptualization — R. and I.S.M.; Methodology — R.; Validation — R.; Formal Analysis — R. and I.S.M.; Investigation — R.; Resources — I.S.M.; Writing — Original Draft — R. and I.S.M.; Writing — Review & Editing — I.S.M.; Visualization — I.S.M.; Supervision — R.; Project Administration — R.; Funding Acquisition — R. and I.S.M.

      Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

      Acknowledgements: This study was supported by Universitas Negeri Semarang, Indonesia (Grant Number: DIPA-023.17.2.677507/2020) under the Contract Research Agreement Number: 107.4.5/UN37/PPK 4.7/2020.

      JEL Classification: A20, A21, D02, M21, M53

      Received: 28.04.2022
      Accepted: 28.11.2022
      Published online: 01.12.2022

      How to cite this paper: Rusdarti, & Melati, I. S. (2022). Innovation management of school cooperative using business incubator model [Special issue]. Journal of Governance & Regulation, 11(4), 330–338. https://doi.org/10.22495/jgrv11i4siart13

      2022-12-01T14:42:11Z
       
  • An analysis of the institute of dissolution of the assembly: A case of the
           emerging democracies
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      This topic is about the process of parliamentary democracy. The institute of dissolution of the assembly in the Republic of Kosovo is complicated by a complex procedure. Dissolution of parliament is one of the most serious tools that may be used by the executive power against the parliament, where such power can dissolve the legislative council before the end of the term provided under the Constitution (Al Momani, 2018). This study aims to analyze the institute of dissolution of the assembly in developing countries and emerging democracies. The research model was based on the comparative study and normative method. Furthermore, this study focuses on 1) making a review analysis of the institute of dissolution of the Assembly of the Republic of Kosovo, like a developing country; 2) identifying the differences and similarities between the institute of dissolution of the Assembly of the Republic of Kosovo with that of Albania; 3) the most frequent reasons that leading to the dissolution of the parliament in Kosovo. The main findings of the study show that the most frequent reasons for the dissolution of parliament are weak parliamentary majorities in countries with developing democracies such as Kosovo and economic and political crises in the country as a result of economic and social problems.

      Keywords: Dissolution of the Assembly, Motion of Confidence, Motion of No Confidence, Kosovo, Albania

      Authors' individual contribution: Conceptualization — B.B. and A.F.; Methodology — B.B. and A.F.; Writing — Original Draft — B.B. and A.F.; Writing — Review & Editing — B.B. and A.F.; Supervision — B.B. and A.F.

      Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

      JEL Classification: K1, K10, K30, K39, K40

      Received: 06.05.2022
      Accepted: 25.11.2022
      Published online: 29.11.2022

      How to cite this paper: Belegu, B., & Fejzullahu, A. (2022). An analysis of the institute of dissolution of the assembly: A case of the emerging democracies [Special issue]. Journal of Governance & Regulation, 11(4), 321–329. https://doi.org/10.22495/jgrv11i4siart12

      2022-11-29T13:02:24Z
       
  • The importance of corporate social responsibility for companies: The
           developing market study
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The purpose of this paper is to determine whether and to what extent companies in Kosovo practice the concept of corporate social responsibility (CSR) in their operations and what are their benefits from the application of this concept. This paper uses primary data obtained through a survey of managers of 40 companies in Kosovo. To prove that the practice of the concept of CSR is of great importance for all aspects of the operation of companies, a cross-tabular analysis of certain questions was performed, where the simple linear regression and the coefficient of correlation were calculated. Based on the obtained results it can be concluded that the largest percentage of the analyzed companies in Kosovo (87.50%) practice the concept of CSR in their operations. Managers in Kosovo introduce the concept of CSR for a variety of reasons. However, they agree with the fact that practicing this method leads to better long-term financial performance, greater market share, competitive advantage, better reputation of the company, increase of the working climate in the company, the productivity and motivation of employees, their loyalty, and contributes to retaining high-quality staff.

      Keywords: Corporate Social Responsibility, Importance, Companies, Kosovo

      Authors' individual contribution: Conceptualization — A.N.; Methodology — A.N., V.Z., and D.S.; Formal Analysis — D.S. and V.Z.; Investigation — D.S. and V.Z.; Resources — A.N. and V.Z.; Writing — A.N. and V.Z.; Supervision — A.N. and D.S.; Funding — A.N. and V.Z.

      Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

      JEL Classification: G3, H1, M1

      Received: 24.04.2022
      Accepted: 22.11.2022
      Published online: 24.11.2022

      How to cite this paper: Nimani, A., Zeqiraj, V., & Spahija, D. (2022). The importance of corporate social responsibility for companies: The developing market study [Special issue]. Journal of Governance & Regulation, 11(4), 314–320. https://doi.org/10.22495/jgrv11i4siart11

      2022-11-24T13:43:07Z
       
  • Evidence-based social cohesion interventions in local government
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      Promoting social cohesion is particularly critical in South Africa given the context of widening inequality, growing unemployment, and persistent racial inequalities. Without measurement, potential key contributing factors that may influence social cohesion (inequality, poverty, violence, gender conflicts, mistrust, etc.) will remain elusive, thereby complicating the formulation of effective policies and programmes in the local sphere of government towards improved social cohesion and inclusive development (Palmary, 2015; Rocha, Kunc, & Audretsch, 2020). Following a mixed method design, inclusive of a literature review, desktop survey, case study analyses and semi-structured interviews with three cohorts (n = 32), the purpose of this article was to outline the framework dimensions of an evidence-based measurement instrument (i.e., Municipal Social Cohesion Barometer) to gauge the extent to which municipalities succeed in promoting social cohesion. The findings revealed dimensions and indicators for such an instrument and concluded that without a measurement instrument, potential key determinants that influence social cohesion in local communities remain largely hidden, making it difficult to design initiatives aimed at enhancing social cohesion through a more inclusive approach to local development. The relevance of the findings is centred on the utilisation of an instrument for measuring social cohesion that enables policymakers to target key domains that currently limit national unity.

      Keywords: Social Cohesion, Local Government, Evidence-Based Dimensions, Measurement Indicators, Barometer, Interventions

      Authors' individual contribution: Conceptualization — G.v.d.W.; Methodology — G.v.d.W.; Resources — D.J.F.; Data Curation — G.v.d.W.; Writing — Original Draft — G.v.d.W.; Writing — Review & Editing — D.J.F.; Project Administration — D.J.F.; Funding Acquisition — D.J.F.

      Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

      Acknowledgements: The Authors would like to acknowledge the contributions of Dr. Cornel Malan, an Independent Industry Advisor as well as the South African Local Government Association (SALGA) in providing funding for the research.

      JEL Classification: H11, H75, I24, O35, P25

      Received: 19.04.2022
      Accepted: 18.11.2022
      Published online: 22.11.2022

      How to cite this paper: van der Waldt, G., & Fourie, D. J. (2022). Evidence-based social cohesion interventions in local government [Special issue]. Journal of Governance & Regulation, 11(4), 300–313. https://doi.org/10.22495/jgrv11i4siart10

      2022-11-22T15:00:24Z
       
  • Customary law and regulation: Authenticity and influence
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      In its origins, customary law is a product of tribal order, which lacked a genuine state organization and institutions to create and enforce the law (Pëllumbi, 2006). Albanian customary law (ACL) is one of the oldest and most exceptional bodies of European customary law. It is exceptional that it does not come from a legislator or state parliament, but it was transmitted across generations in its unwritten form since antiquity. ACL has been applied in Albanian territories alongside various state laws implemented by locals or invaders. The purpose of this paper is to bring closer the scientific knowledge regarding the application of customary law from the ancient period to the new time. This knowledge brings scientific data regarding the originality or the influence of the customary rights of foreign people on ACL. This paper, by using the comparative methods, theoretical and meta-analysis methods (Maloku, 2020), will present the views of some foreign and local authors on customary law throughout history, and in particular in the Kanun of Lekë Dukagjini (KLD) as a fundamental source of ACL. The KLD has had the greatest longevity. Japanese anthropologist Kazuhiko Yamamoto considered the KLD to be similar to ancient Japanese customary law and Homeric-era law (Yamamoto, 2015). This paper contributes to the existing scientific literature, especially in the legal field. Moreover, this paper can contribute to the work of criminologists, victimologists, sociologists, and historians of the rule of law who deal with the research on the impact of customary law in Albanian lands.

      Keywords: Customary Law, Regulation, the Origin of Customary Law, Albanian Customary Law, Kanun of Lekë Dukagjini, Contemporary Law

      Authors' individual contribution: Conceptualization — I.Q. and A.M.; Methodology — E.M.; Formal Analysis — I.Q. and A.M.; Investigation — I.Q.; Resources — I.Q., A.M., and E.M.; Writing — Original Draft — I.Q.; Writing — Review & Editing — I.Q. and A.M.; Supervision — I.Q. and A.M.

      Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

      JEL Classification: K40, K41, K42, K49

      Received: 08.04.2022
      Accepted: 15.11.2022
      Published online: 17.11.2022

      How to cite this paper: Qerimi, I., Maloku, A., & Maloku, E. (2022). Customary law and regulation: Authenticity and influence [Special issue]. Journal of Governance & Regulation, 11(4), 289–299. https://doi.org/10.22495/jgrv11i4siart9

      2022-11-17T10:24:23Z
       
  • Theory and determinants of regulatory effectiveness in a formal
           microinsurance context: The insurers' perspectives
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      Using a 60-item questionnaire with an 8-point Likert scale, we conducted a survey (solely amongst insurers) to investigate possible determinants of regulatory effectiveness (RE) in the Nigerian microinsurance sector. This survey was further triangulated with key industry reports, coupled with respondent-provided qualitative validation and real scenario-based instances, to soundly justify the responses/opinions of survey participants. In this paper, RE was measured by the level of achievement on regulatory mandates (RM), as opined/justified by informed respondents. This research was conducted to re-sensitize/guide governments, regulators, researchers and other stakeholders on what fosters/impedes RE and the need to sustainably manage these determinants, in order to promote formal microinsurance development (FMID). Our result revealed that the severity of determinants' impact (in their current/snapshot state) on five aggregated RM was in the following decreasing order: “level of corruption”, “clarity of mandate”, “national culture”, “technology”, “regulatory flexibility/innovation”, “organisational structure”, “participation/consultation”, “organisational culture”, “regulatory autonomy” and lastly, “resources” has the least negative impact. The “socio-political legitimacy” had no impact on the five RM, while “support-from-development-partners” in its current/snapshot state is the only recorded determinant exerting a positive impact on all the five RM (as aggregated). Consequently, the study guides relevant stakeholders to assiduously work towards managing these determinants (especially, the most severe ones such as “level-of-corruption”, “clarity-of-mandate”, etc.) in order to enhance RE and FMID.

      Keywords: Regulatory Effectiveness (RE), Formal Microinsurance Development (FMID), Regulatory Mandates (RM), Determinants, Nigerian Microinsurance Sector, Rural Dwellers and Actors in the Informal Sectors (RDAIS)

      Authors' individual contribution: Conceptualization — E.A.O.; Methodology — E.A.O.; Resources — E.A.O. and J.D.L.; Writing — Original Draft — E.A.O.; Writing — Review & Editing — E.A.O. and J.D.L.; Supervision — J.D.L.; Funding Acquisition — J.D.L.

      Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

      Acknowledgements: The Authors warmly appreciate the financial support from FCT — Foundation for Science and Technology (Portugal), national funding through research grant (UIDB/04521/2020).

      JEL Classification: G280, G220, L510

      Received: 19.05.2022
      Accepted: 11.11.2022
      Published online: 15.11.2022

      How to cite this paper: Osifodunrin, E. A., & Lopes, J. D. (2022). Theory and determinants of regulatory effectiveness in a formal microinsurance context: The insurers' perspectives [Special issue]. Journal of Governance & Regulation, 11(4), 277–288. https://doi.org/10.22495/jgrv11i4siart8

      2022-11-15T15:19:52Z
       
  • The policy of gender mainstreaming in fishing communities for poverty
           reduction
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      This study aims to find out the policy of gender mainstreaming for women in the fishery sector (Guzman & Kacperczyk, 2019). Women are placed at the bottom of the occupational hierarchy despite women having a significant role in this sector (Szymkowiak, 2020). This study uses qualitative analysis with secondary data which are analyzed by content analysis. The results obtained in this study are as follows. National and regional laws on the fishery sector in Indonesia related to gender mainstreaming is still partial because this is only related to the empowerment aspect. Meanwhile, the protection sphere of the fisherwoman has not been included. This restricts woman's access to several facilities namely fishing instrument (fishing boat), fishing cultivation equipment (fishing hatchery), marketing (cool chain), and packaging facility. This condition makes fisherwomen live in poverty and makes the gender gap still exist in this sector. This condition will be a vicious circle if there is no policy change in the Indonesian government. So, it is necessary for the government to review the bias gender policy in fishery regulation.

      Keywords: Gender Mainstreaming, Feminist Legal Analysis, Poverty Reduction, Fisherwomen, State Regulation

      Authors' individual contribution: Conceptualisation — A.P. and K.C.S.W.; Methodology — M.A.M. and A.N.; Formal Analysis — A.P.; Resources — K.C.S.W.; Writing — Original Draft — A.P.; Writing — Review & Editing — M.A.M.; Supervision — A.N.; Project Administration — A.P.

      Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

      Acknowledgements: The Authors give their gratitude to Universitas Diponegoro, Indonesia, for supporting this research.

      JEL Classification: K23, K38, J08, J16, J18, D04

      Received: 27.03.2022
      Accepted: 07.11.2022
      Published online: 10.11.2022

      How to cite this paper: Purwanti, A., Mahfud, M. A., Wibawa, K. C. S., & Natalis, A. (2022). The policy of gender mainstreaming in fishing communities for poverty reduction [Special issue]. Journal of Governance & Regulation, 11(4), 267–276. https://doi.org/10.22495/jgrv11i4siart7

      2022-11-10T13:35:11Z
       
  • Thematic analysis of the responsibilities of the board of directors in
           OECD, BCBS, and IFSB principles
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      At the center of this ongoing debate is the board of directors' responsibilities, nevertheless, there are differences and similarities among the principles and guidelines of corporate governance worldwide when it comes to responsibilities of the board of directors. The interest in corporate governance and, specifically, the focus on bank governance have received increased attention from academics and policymakers after the global financial crisis of 2007–2009 (Pathan & Faff, 2013). Given the gap in the literature investigating these differences and similarities, this theoretical article aims to conduct a thematic analysis of the principles and guidelines of the Organisation for Economic Co-operation and Development (OECD), Basel Committee on Banking Supervision (BCBS), and Islamic Financial Services Board (IFSB), on board of directors' responsibilities. This article provides a reference thematic analysis for policymakers, regulators, and researchers in developing national corporate governance principles and guidelines. The article highlights the shares themes between the principles of OECD, BCBS, and IFSB, and concludes with recommendations for future research in the area of the board of directors' responsibilities.

      Keywords: Regulation, Bank Regulation, Corporate Governance, Principles of Corporate Governance, Board of Directors, Responsibilities

      Authors' individual contribution: Conceptualization — N.Y.A.N.; Investigation — N.Y.A.N.; Writing — Original Draft — N.Y.A.N.; Writing — Review & Editing — N.A.A.R.; Supervision — N.A.A.R.

      Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

      Acknowledgements: The Authors gratefully acknowledge the financial support from Applied Science University (ASU), the Kingdom of Bahrain (Approved by University Council Meeting No. 15, Academic Year 2019/2020 on 11th of June 2020).

      JEL Classification: G28, G34, G38, G39

      Received: 30.10.2021
      Accepted: 04.11.2022
      Published online: 08.11.2022

      How to cite this paper: Naim, N. Y. A., & Rahman, N. A. A. (2022). Thematic analysis of the responsibilities of the board of directors in OECD, BCBS, and IFSB principles [Special issue]. Journal of Governance & Regulation, 11(4), 260–266. https://doi.org/10.22495/jgrv11i4siart6

      2022-11-08T10:09:31Z
       
  • Leadership policy adjustment analysis during the COVID-19 pandemic
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The COVID-19 pandemic has hit all corners of the globe as a world crisis (Sohrabi et al., 2020), widely impacts society, and has forced the government to carry out various new policies to overcome various problems that arise. This study aims to analyze the extent to which policy adjustments are made, the main targets, and indicators of success and examine possible deviations that occur as a result of policy adjustments in the Semarang City Government. The research method used a qualitative approach by using observation and interviews with related informants. The findings indicate that the policy adjustments made during the COVID-19 pandemic condition are budget refocusing. Furthermore, the main target in making policy adjustments made by the leaders were the primary services, and needs of the people affected by COVID-19 and employees. The indicators of success in policy adjustments are the success in reducing the number of COVID-19 transmissions, the success of the community's economic recovery, and the achievement of good public services. The results also show that all policies made are in line with the policies of the leadership, and there are no policies that conflict with the policies of the leadership above.

      Keywords: Adjustment, Leadership, COVID-19 Pandemic, Government, Policy, Semarang City

      Authors' individual contribution: Conceptualization — W.S. and A.; Methodology — W.S. and A.; Formal Analysis — W.S.; Resources — A.; Writing — Original Draft — W.S. and A.; Writing — Review & Editing — W.S. and A.; Supervision — A.; Project Administration — A.

      Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

      JEL Classification: D78, H51, H75, I18, J18

      Received: 23.03.2022
      Accepted: 03.11.2022
      Published online: 07.11.2022

      How to cite this paper: Setiawan, W., & Albert. (2022). Leadership policy adjustment analysis during the COVID-19 pandemic [Special issue]. Journal of Governance & Regulation, 11(4), 246–259. https://doi.org/10.22495/jgrv11i4siart5

      2022-11-07T15:30:22Z
       
  • The impact of the practices of logistic management on operational
           performance: A field study of road transport companies
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The research focuses on the impact of logistic management practices on the performance of their operations using the sector of road transport companies in Jordan. To fulfill the research aims, the descriptive-analytical approach was utilized to collect data, evaluate it, and test hypotheses. Several statistical analyses were also carried out to determine the correlation coefficient, standard deviation regression analysis, arithmetic averages, and variance. A thirty-item questionnaire was employed as the primary data-gathering tool. According to the findings of the research, logistic management practices have a considerable positive impact on its dimension (inventory management, warehousing, order process management, transportation, and packaging) on the operational performance of road transport companies in Jordan. As a result of the findings, it is suggested that Jordanian industrial companies concentrate on all aspects of logistic operations such as purchasing, storage, transportation, distribution, handling, packaging, customer service, and scheduling in the industry sector.

      Keywords: Logistic Management Practices, Operational Performance, Road Transport Companies, Jordan

      Authors' individual contribution: The Author is responsible for all the contributions to the paper according to CRediT (Contributor Roles Taxonomy) standards.

      Declaration of conflicting interests: The Author declares that there is no conflict of interest.

      JEL Classification: M0, M1, M11

      Received: 08.01.2022
      Accepted: 01.11.2022
      Published online: 03.11.2022

      How to cite this paper: Omoush, M. M. (2022). The impact of the practices of logistic management on operational performance: A field study of road transport companies [Special issue]. Journal of Governance & Regulation, 11(4), 237–245. https://doi.org/10.22495/jgrv11i4siart4

      2022-11-03T14:12:38Z
       
  • Anti-corruption mechanisms: A study in the light of international law and
           national regulation
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      Corruption is a constant dilemma that challenges societies and manifests itself differently in every state and civilization. This phenomenon has disastrous consequences on the economy and society. After clarifying the different approaches to corruption, this paper sheds light on the types of corruption and its causes. Sources of corruption can lie in the weakness of the rule of law, judiciary, internal control system, and low wages (Sumpf, Araji, & Crompton, 2016). This paper also examines important anti-corruption instruments such as international and regional organizations, and governmental and non-governmental bodies. It intends to review the state of corruption at the national level and how Jordan and Iraq tackled corruption by analyzing the data of the reports published by the transparency organization and the local authorities: the Jordanian Integrity and Anti-Corruption Commission and the Iraqi Federal Commission of Integrity. The aim is to show what these nations have done on a domestic level to fulfill the international requirement to reduce corruption. This study found that most anti-corruption laws are laws to establish relevant bodies and departments, but they are not special laws to combat corruption crimes. Moreover, although Iraq and Jordan joined international and regional conventions to combat corruption, they have not been fully successful in curbing it. The main recommendations based on these findings are to increase the role of international and local monitoring agencies, enforce written laws, and enhance cooperation between agencies. Arab countries must establish clear public policies and strategies for combating corruption.

      Keywords: Criminal Law, Corruption, International Transparency, United Nations Convention Against Corruption, Corruption Perceptions Index, Arab Anti-Corruption Convention

      Authors' individual contribution: Conceptualization — J.B., M.A.A., A.H.A.-O., S.A., and W.F.M.; Methodology — J.B. and M.A.A.; Writing — Original Draft — M.A.A., A.H.A.-O., S.A., and W.F.M.; Writing — Review & Editing — J.B.; Project Administration— J.B., M.A.A., A.H.A.-O., and W.F.M.; Supervision — M.A.A. and S.A.

      Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

      JEL Classification: K000, K400, K490, K39

      Received: 04.04.2022
      Accepted: 28.10.2022
      Published online: 01.11.2022

      How to cite this paper: Barafi, J., Alkrisheh, M. A., Al-Obeidi, A. H., Alsaadi, S., & Mahameed, W. F. (2022). Anti-corruption mechanisms: A study in the light of international law and national regulation [Special issue]. Journal of Governance & Regulation, 11(4), 224–236. https://doi.org/10.22495/jgrv11i4siart3

      2022-11-01T14:55:40Z
       
  • The role of a well-established food retail firm in Greek economy in the
           era of economic crisis
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The economic crisis in Greece has provoked a number of financial problems in Greek firms in all sectors. High tax rates, low payments and in sequence low demand for goods and services are a few of the problems confronted by firms and consumers. Within the framework of the Memorandum, a number of different corporate efforts have become a cornerstone of economic recovery. An effective and critical factor for venture success has validated the networking along with entrepreneurial competencies (Kyrgidou Mylonas, Petridou, & Vacharoglou, 2021). The present work makes an effort with the assistance of visual tools and descriptive statistics to unveil the role of a retail market firm in the developing economy of Greece. Using an analytical presentation of financial and innovation initiatives in the retail market store chain of Masoutis and based on our findings we confirm a positive contribution to the country's economic growth in a disproportionate rate to the country's economic performance. The specific effect is attributed to the growth rates in employment, productivity and sales. Our findings are in line with Kyrgidou et al. (2021) since we implicitly confirm that well-organized initiatives concerning networking coupled with good marketing practices provide opportunities to firms for expansion, and efforts of this type may add value to the sector and the total economy opening the way to recovery from the economic crisis.

      Keywords: Financial Crisis, Unemployment, Investments, Disposable Income, Taxes, GDP

      Authors' individual contribution: Conceptualization — N.Z., E.Z.; Methodology — N.Z.; Software — N.Z.; Validation — A.G.; Formal Analysis — I.P. and K.R.; Investigation — N.Z. and K.R.; Resources — N.Z.; Data Curation — N.Z. and I.P.; Writing — Original Draft — N.Z.; Writing — Review & Editing — E.Z.; Visualization — A.G.; Supervision — E.Z.; Project Administration — N.Z., E.Z., and A.G.

      Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

      JEL Classification: E21, E32, E52

      Received: 14.04.2022
      Accepted: 26.10.2022
      Published online: 28.10.2022

      How to cite this paper: Zisoudis, N., Zafeiriou, E., Garefalakis, A., Passas, I., & Ragazou, K. (2022). The role of a well-established food retail firm in Greek economy in the era of economic crisis [Special issue]. Journal of Governance & Regulation, 11(4), 215–223. https://doi.org/10.22495/jgrv11i4siart2

      2022-10-28T14:35:32Z
       
  • The influence of corporate governance practices on public sector
           sustainable development: A developing economy study
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The study examines the relationship between corporate governance practices (CGPs) on the public sector's investment in water management (IWM). The critical question addressed in the paper was how good CGPs can provide a vehicle for increasing IWM in the context of local government. The need for addressing an underinvestment gap in local government is necessitated by the surge in poor CGPs that continue to constrain efforts to attract and manage water sector investments (WSIs) (Jacobs, 2019). The study employed secondary data (2009–2019) concerning a sample of eight South African metropolitan municipalities (SAMMs) collected from the annual reports. The multivariate regression analysis is employed using the pooled ordinary least squares (POLS) and feasible generalised least squares (FGLS) models. The results revealed that gender equity and external audit outcomes had a positive and significant relationship with IWM except for human resources which shows an insignificant effect. The results have important implications for water service authorities (WSAs), the public sector, and policymakers to incorporate good CGPs for improved management of water investments to eliminate water provisioning challenges. The research findings acknowledge the degree of adherence to good CGPs requires endless attention. Future studies should focus on ensuring local municipalities comply with the existing water provisioning governance framework to eliminate shortfalls in IWM.

      Keywords: Investment, Governance, Sustainable Development, Water, Sustainability

      Authors' individual contribution: Conceptualization — S.M., M.B.F., and M.S.T.; Methodology — S.M.; Investigation — S.M.; Resources — S.M. and M.B.F.; Writing — S.M. and M.B.F.; Funding Acquisition — S.M. and M.S.T.; Supervision — M.B.F.

      Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

      Acknowledgements: The Authors wish to express their gratitude to the Africa Centre for Sustainability Accounting and Management (ACSAM) for making the funds available to cover the publication fees.

      JEL Classification: D25, O19, Q01, Q25, Q56

      Received: 02.02.2022
      Accepted: 24.10.2022
      Published online: 26.10.2022

      How to cite this paper: Mukwarami, S., Fakoya, M. B., & Tayob, M. S. (2022). The influence of corporate governance practices on public sector sustainable development: A developing economy study [Special issue]. Journal of Governance & Regulation, 11(4), 202–214. https://doi.org/10.22495/jgrv11i4siart1

      2022-10-26T15:03:18Z
       
  • Editorial: Governance responsibility in Italy to monitor corporate
           performance — Code of Corporate Crisis and Insolvency
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      This issue of the Journal of Governance and Regulation was published on October 21, 2022.

      By clicking the button "Download This Article" you will gain direct access to the Editorial of the issue.

      How to cite: Giovando, G. (2022). Editorial: Governance responsibility in Italy to monitor corporate performance — Code of Corporate Crisis and Insolvency. Journal of Governance and Regulation, 11(4), 4–6. https://doi.org/10.22495/jgrv11i4editorial

      2022-10-21T09:40:11Z
       
  • Co-creating value and its impact on customer satisfaction and customer
           loyalty: A banking sector perspective
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The application of co-creation is important and traditionally proves that banks that offer products and services without taking into account the opinions and recommendations of customers have the opportunity to remain focused on the bank and not be successful (Keshavarz & Jamshidi, 2018). In many organizations, especially those dealing with services, customer satisfaction is considered a challenge. Customer satisfaction influences customer loyalty and a loyal customer is a constant source of revenue, and satisfied customers do not focus on replacement products found on the market. From this, we conclude that customer satisfaction increases loyalty and reduces opposition to the products and services that the company offers (Jaakkola, Helkkula, & Aarikkula-Stenroos, 2015). This study aims to measure the impact of co-creation value through the DART (dialogue, access, risk assessment, and transparency) model on customer satisfaction and customer loyalty. The method used to answer the research questions is the quantitative method, where data were collected through primary research; the population of this study is the customers of all commercial banks in Kosovo, where the sample was 300 customers of randomly selected banks. Based on the research results, referring to Spearman's rho correlation we conclude that co-creation with customer satisfaction and customer loyalty are in direct proportion. According to the ordinary least squares (OLS) model, we conclude that co-creation affects customer satisfaction and customer loyalty. Through this research, banking structures have the opportunity to increase customer satisfaction and create loyalty to customers through the co-creation process, strengthening its components such as dialogue, access, risk assessment, and transparency.

      Keywords: Co-creation, Customer Satisfaction, Customer Loyalty, Banking System

      Authors' individual contribution: The Author is responsible for all the contributions to the paper according to CRediT (Contributor Roles Taxonomy) standards.

      Declaration of conflicting interests: The Author declares that there is no conflict of interest.

      JEL Classification: G24, M31

      Received: 17.03.2022
      Accepted: 07.10.2022
      Published online: 10.10.2022

      How to cite this paper: Pula, F. (2022). Co-creating value and its impact on customer satisfaction and customer loyalty: A banking sector perspective. Journal of Governance & Regulation, 11(4), 179–190. https://doi.org/10.22495/jgrv11i4art17

      2022-10-10T15:00:42Z
       
  • The role of the audit committee and employee well-being in controlling
           employee fraud
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      Fraud is still a problem in the banking industry. Association of Certified Fraud Examiners (ACFE) reported that banks experienced the highest number of fraud cases compared to other types of businesses. This study aimed to demonstrate the effect of the audit committee's size, gender, expertise, independence, and employee well-being on employee fraud. The study on fraud uses questionnaire data to identify employee fraud (Fathi, Ghani, Said, & Puspitasari, 2017; Nawawi & Salin, 2018). We complement the previous study by using the number of cases as an indicator of employee fraud. Using a sample of 14 Islamic banks, we find that audit committee members' accounting expertise and employee well-being can influence employees' willingness to commit fraud. After overcoming the problem of endogeneity and robustness tests, the results of our study were consistent. The number of audit committee members, gender, and independence have not impacted fraud control. The expertise of the audit committee and employee well-being can be an effective internal control system in reducing fraud. This study adds to previous studies that have explained fraud by using employee perceptions and financial ratio indicators to detect director fraud. This study uses the number of employee fraud cases reported by the bank.

      Keywords: Employee Fraud, Employee Well-Being, Audit Committee Gender, Audit Committee Expertise

      Authors' individual contribution: Conceptualization — I.A. and I.J.; Methodology — I.A.; Validation — I.A., I.J., and Z.; Formal Analysis — I.A.; Investigation — I.A.; Resources — I.A.; Data Curation — I.A.; Writing — I.A., I.J., and Z.; Visualization — I.A.; Supervision — I.J. and Z.; Project Administration — I. A.

      Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

      JEL Classification: G34, G32, M480

      Received: 01.04.2022
      Accepted: 05.10.2022
      Published online: 07.10.2022

      How to cite this paper: Anisykurlillah, I., Januarti, I., & Zulaikha. (2022). The role of the audit committee and employee well-being in controlling employee fraud. Journal of Governance & Regulation, 11(4), 168–178. https://doi.org/10.22495/jgrv11i4art16

      2022-10-07T14:02:17Z
       
  • The political economy of budget reforms: Evidence of an emerging market
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The purpose of the paper was to investigate the socio-economic and political processes that influenced Kuwait's budget reforms in the wake of declining oil prices. A qualitative study and a literature review were adopted and informed by political economy theory to generate in-depth insights into similar and different socio-economic and political processes that influenced the adoption and implementation of a range of budget reforms in Kuwait. The study revealed that the budget reforms in Kuwait, as part of the austerity measures, were influenced by the dwindling oil revenues; the entrenched welfare system; the power struggles between the state actors; and the strategic partnerships and coercive role of supranational agencies, especially in creating an enabling environment for global capitalism. The paper demonstrates how the socio-economic and political environment influences and is influenced by the strategic accounting choices and practices adopted and implemented. Budget reforms in Kuwait were proposed to address the socio-economic and political realities of the day, but also, the reforms prepared fertile grounds to support global capitalism. The paper contributes to the debate on the political economy and how it is relevant in understanding the socio-economic and political processes involved in the adoption and implementation of accounting changes, especially in developing countries.

      Keywords: Political Economy, Budget Reforms, Developing Countries, Kuwait

      Authors' individual contribution: The Author is responsible for all the contributions to the paper according to CRediT (Contributor Roles Taxonomy) standards.

      Declaration of conflicting interests: The Author declares that there is no conflict of interest.

      JEL Classification: M4

      Received: 11.02.2022
      Accepted: 03.10.2022
      Published online: 06.10.2022

      How to cite this paper: Alnesafi, A. (2022). The political economy of budget reforms: Evidence of an emerging market. Journal of Governance & Regulation, 11(4), 154–167. https://doi.org/10.22495/jgrv11i4art15

      2022-10-06T13:47:56Z
       
  • Key macroeconomic indicators of economic growth in the case of developing
           countries
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The neoclassical Solow-Swan economic growth theory of 1956, also known as the exogenous growth model, advocates for the accumulation of physical capital as an important driver of economic growth in the short run, while technological advancement is the key determinant of economic growth in the long run (Chirwa & Odhiambo, 2016). The main aim of this study is to measure the impact of some key macroeconomic factors, which influence the economic growth of a developing country, in our case, the Republic of Kosovo. This study uses secondary data from The World Bank Indicators for the time period 2010–2020. In this study, the ordinary least squares (OLS) econometric model is employed, the dependent variable used is the gross domestic product (GDP) growth, and the independent variables used are private consumption, remittances, export, and employment. Growth in an economy is measured by a change in the volume of its output or the real expenditure or income of its residents (The World Bank, n.d.-d). The study comes to the conclusion that the OLS model is important under the study circumstances thus the independent variables such as consumption, employment, exports, and remittances have a positive impact on Kosovo's economic growth measured by GDP. The study comes with further recommendations such as increasing employment, using more effectively the remittances received from the diaspora, and increasing the exports for Kosovo to gain economic growth and sustainability.

      Keywords: GDP, Consumption, Employment, Remittances, OLS Model, Regression

      Authors' individual contribution: Conceptualization — N.I., R.S., and B.Z.; Methodology — N.I., R.S., and B.Z.; Data Curation — N.I., R.S., and B.Z.; Writing — Original Draft — N.I., R.S., and B.Z.; Writing — Review & Editing — N.I., R.S., and B.Z.

      Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

      JEL Classification: E13, O1, O47

      Received: 07.02.2022
      Accepted: 30.09.2022
      Published online: 04.10.2022

      How to cite this paper: Iballi, N., Smajli, R., & Ziberi, B. (2022). Key macroeconomic indicators of economic growth in the case of developing countries. Journal of Governance & Regulation, 11(4), 147–153. https://doi.org/10.22495/jgrv11i4art14

      2022-10-04T13:39:02Z
       
  • The influence of personality on compliance with COVID-19 public health
           protection measures: The role of prosocial behavior
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The COVID-19 pandemic has affected the lives of people worldwide. Governments struggled to persuade citizens to obey ongoing lockdowns and social restrictions to fight the transmission of the virus. The purpose of this paper is to investigate the impact of prosocial behavior during COVID-19 and big-five personality traits on compliance with health-protective behavior against COVID-19. To examine possible predictors an online questionnaire was delivered to undergraduate students at a public university of Athens during the second phase of the pandemic (November 2020). A mediation analysis was performed to test the relationships among variables. The sample consisted of 239 business school students and the results revealed that two of the big-five personality traits of young adults, conscientiousness, and neuroticism, can be linked with a positive attitude to following heath precautions and recommendations while conscientiousness and agreeableness are predictors of young adults' prosociality behavior to cope with the COVID-19 pandemic. Finally, the results indicated that there is not any effect of young adults' personality traits on health recommendation through the mediation of prosociality. The results will contribute to the recent literature (Campos-Mercade, Meier, Schneider, & Wengström, 2021; Miles, Andiappan, Upenieks, & Orfanidis, 2021) on the factors influencing prosocial decision-making regarding the pandemic.

      Keywords: COVID-19 Pandemic, Prosociality, Big Five Personality Traits, Health Behavior, Health Protection Measures, Behavioral Compliance

      Authors' individual contribution: Conceptualization — C.D.P., K.S., V.G., and A.G.S.; Methodology — C.D.P., V.G., A.G.S., and P.A.T.; Investigation — C.D.P., K.S., V.G., A.G.S., and P.A.T.; Resources — C.D.P., K.S., V.G., and A.G.S.; Writing — C.D.P., K.S., V.G., and A.G.S.; Supervision — A.G.S.

      Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

      JEL Classification: D91, H12, I12, I18

      Received: 01.05.2022
      Accepted: 28.09.2022
      Published online: 30.09.2022

      How to cite this paper: Patitsa, C. D., Sotiropoulou, K., Giannakouli, V., Sahinidis, A. G., & Tsaknis, P. A. (2022). The influence of personality on compliance with COVID-19 public health protection measures: The role of prosocial behavior. Journal of Governance & Regulation, 11(4), 136–146. https://doi.org/10.22495/jgrv11i4art13

      2022-09-30T12:21:11Z
       
  • The role of communities in innovative water management: Sustainability
           governance in the emerging country
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      South Africa's municipalities have been called upon to provide potable clean water and to empower local communities to participate in water supply management in view of the Sustainable Development Goals (SDGs) of the United Nations. However, despite such efforts, access to piped water is dwindling and disparities in the distribution of water are growing (Mkize, 2021). This paper aimed to explore the existing policy and institutional frameworks that enhance or inhibit communities' roles as water services intermediaries in the Eastern Cape and Free State provinces of South Africa. This article adopted the qualitative research methodology in presenting the findings and the analysis of data from communities and government and non-governmental organisations (NGOs) officials' narratives on the factors that enhance or inhibit communities' participation in water management. The findings highlight that, despite South Africa's elaborate legal frameworks for water governance, South Africa has not managed to achieve water equity or to engage meaningfully with beneficiary communities as part of water management. Water inequalities are still predominantly characteristic of formerly excluded areas in the villages, townships, and informal settlements, and have grown in tandem with overall social and economic inequalities that are making South Africa the most unequal country in the world.

      Keywords: Good Governance, Water Inequality, Developing Country, Governance, Participation, Empowerment, South Africa

      Authors' individual contribution: Conceptualization — P.B.M.; Methodology — P.B.M., S.Y.C., T.M., and S.N.; Validation — P.B.M., S.Y.C., T.M., and S.N.; Formal Analysis — P.B.M., S.Y.C., T.M., and S.N.; Investigation — P.B.M., S.Y.C., T.M., and S.N.; Writing — Original Draft — P.B.M.; Writing — Review & Editing — P.B.M., S.Y.C., T.M., and S.N.; Supervision — P.B.M.; Project Administration — P.B.M.

      Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

      Acknowledgements: We would like to thank the Water Research Commission (WRC) and the Govani Mbeki Research and Development Centre for funding our research. We would also like to thank Ms. Virginia Molose, Ms. Penny Jaca, and the WRC research task team. We would like to thank our departmental members, the Mbizana and the Ngwathe community members who helped to shape some of our initial thinking on water management.

      JEL Classification: G30, H10, Q56

      Received: 25.09.2021
      Accepted: 26.09.2022
      Published online: 29.09.2022

      How to cite this paper: Monyai, P. B., Chivanga, S. Y., Monyai, T., & Ndlovu, S. (2022). The role of communities in innovative water management: Sustainability governance in the emerging country. Journal of Governance & Regulation, 11(4), 123–135. https://doi.org/10.22495/jgrv11i4art12

      2022-09-29T12:24:16Z
       
  • The effect of incentive principles based on the mato system toward firm
           performance through employee work productivity
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      This study aims to examine the role of employee work productivity as a mediating variable in the relationship of the incentive principles based on the mato system toward firm performance. The principle based on the mato system is a principle in remuneration policy applied by a company to employees based on the concept of profit sharing. Data was collected by means of a survey method through a questionnaire filled out by 77 respondents and analysed using the partial least squares (PLS) approach. The result of the study indicates that there is a positive effect of the incentive principles based on the mato system toward firm performance and the finding shows that employee work productivity has a positive role to mediate the effect of incentive principles based on the mato system toward firm performance. Incentive principles based on the mato system are a new variable in the realm of management accounting. The variable reflects unique business management in a restaurant firm and is evidently able to improve employee work productivity to create value added for the restaurant firm.

      Keywords: Incentive Principles, Mato System, Employee Work Productivity, Firm Performance, Value Added, Profit Sharing

      Authors' individual contribution: Conceptualization — H.; Methodology — H., S.S., M.B.W.I., D.S., and K.P.; Validation — H., S.S., M.B.W.I., D.S., and K.P.; Formal Analysis — H., S.S., M.B.W.I., D.S., and K.P.; Investigation — H., S.S., M.B.W.I., and D.S.; Data Curation — H., S.S., M.B.W.I., D.S., and K.P.; Writing — Original Draft — H., S.S., M.B.W.I., and D.S.; Writing — Review & Editing — H., S.S., M.B.W.I., D.S., and K.P.; Supervision — H.

      Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

      JEL Classification: G3, M12, M14, M540

      Received: 15.03.2022
      Accepted: 23.09.2022
      Published online: 27.09.2022

      How to cite this paper: Hanif, Suhartono, S., Iryanto, M. B. W., Siagian, D., & Pirzada, K. (2022). The effect of incentive principles based on the mato system toward firm performance through employee work productivity. Journal of Governance & Regulation, 11(4), 112–122. https://doi.org/10.22495/jgrv11i4art11

      2022-09-27T09:12:42Z
       
  • Board of directors' attributes and firm financial performance in the
           energy industry: Evidence from the developing country
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      Previous studies have examined the effect of the chief executive officer's (CEO) share-ownership and compensation on firm performance (Elsayed & Elbardan, 2018; Hill, Lopez, & Reitenga, 2016; Vemala, Nguyen, Nguyen, & Kommasani, 2014), however, the interaction effect of board of directors (BOD) share-ownership and compensation on firm performance are still unclear. Further, the incentive of higher financial performance to attract members of the BOD to hold shares in the company is still not adequately investigated by the literature. This study, therefore, aims to fill these gaps. Based on an investigation of 56 company-year observations of the Saudi energy industry for the period 2005–2019, we found that BOD share-ownership has a significant direct and positive effect on BOD compensation as well as on the return on equity (ROE). Moreover, the results indicate that BOD compensation affects the ROE significantly, and partially mediates the relationship between BOD share-ownership and ROE. Finally, the study revealed that the ROE positively and significantly affects BOD share-ownership, indicating that the higher the ROE, the more incentive for BOD members to hold shares in the company. The study provides new insights into the extant literature related to the joint effect of BOD share-ownership and compensation on firm performance, as well as the reverse relationship between BOD share-ownership and firm performance.

      Keywords: BOD Share-Ownership, BOD Compensation, Firm Performance, Energy Industry

      Authors' individual contribution: Conceptualization — H.H.S.-A.; Methodology — A.A.S.A.-D.; Software — H.H.S.-A.; Validation — A.A.S.A.-D.; Formal Analysis — H.H.S.-A.; Investigation — A.A.S.A.-D.; Resources — H.H.S.-A. and A.A.S.A.-D.; Data Curation — H.H.S.-A.; Writing — Original Draft — H.H.S.-A.; Writing — Review & Editing — A.A.S.A.-D.; Visualization — H.H.S.-A.; Supervision — A.A.S.A.-D.; Project Administration — H.H.S.-A.

      Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

      JEL Classification: G32, G38, O16

      Received: 21.03.2022
      Accepted: 20.09.2022
      Published online: 23.09.2022

      How to cite this paper: Sharaf-Addin, H. H., & Al-Dhubaibi, A. A S. (2022). Board of directors' attributes and firm financial performance in the energy industry: Evidence from the developing country. Journal of Governance & Regulation, 11(4), 103–111. https://doi.org/10.22495/jgrv11i4art10

      2022-09-23T14:56:37Z
       
  • Investment dynamics in the emerging market: COVID-19 influence
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The COVID-19 pandemic had a tangible impact on Indonesia's economy to a 4.5% economic growth contraction (Husnulwati & Yanuarsi, 2021). To analyze the dynamics of investment in the emerging market and the effects of COVID-19 associated with the work creation law in Indonesia. This study is research in the field of law with an empirical legal research approach. The Job Creation Law provides simplifications, especially concerning business licensing and investments that can be made starting from the micro, small and medium enterprises (MSME) level. The COVID-19 pandemic can be interpreted as momentum for Indonesia to attract more investors. The world economy has had significant changes, especially in exports and imports, coupled with the trade war between China and the United States (Sumarni, 2020). Still, several things must be paid attention to, namely: the long-term effect of investment after the amendment of investment provisions in the water, electricity, weapons, and defense business sectors; and the formulation of implementing regulations in the Job Creation Law because so far, Indonesia has been known to be slow in formulating laws and regulations.

      Keywords: Investment Policy, Economic Growth, COVID-19, Job Creation, Indonesia

      Authors' individual contribution: Conceptualization — S.U.A. and Y.J.U.; Methodology — T.A. and S.U.A.; Formal Analysis — S.U.A.; Resources — Y.J.U.; Writing — Original Draft — S.U.A.; Writing — Review & Editing — T.A.; Supervision — Y.J.U.; Project Administration — S.U.A.

      Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

      Acknowledgements: The Authors give their gratitude to Universitas Diponegoro for supporting this research.

      JEL Classification: K00, K1, K2, K31, I18, N4

      Received: 22.03.2022
      Accepted: 16.09.2022
      Published online: 20.09.2022

      How to cite this paper: Asmara, T., Arimuladi, S. U., & Utama, Y. J. (2022). Investment dynamics in the emerging market: COVID-19 influence. Journal of Governance & Regulation, 11(4), 90–102. https://doi.org/10.22495/jgrv11i4art9

      2022-09-20T13:05:27Z
       
  • Intergroup communication, conflict handling style and the quality
           relationship of multinational firms with oil producing communities
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The research sought to understand how cross-border oil companies dealt with violence in the Niger Delta utilizing intergroup community strategy. The main goal was to present the best practices used by international oil companies in resolving conflicts with local residents (Odularu, 2008). The survey research design was used to collect data from 115 respondents. It includes senior and junior public relations workers. Because the sample was small, the total population was utilised, although 102 questionnaires were obtained from the 13 foreign oil companies actively seeking oil in the host regions. The data were analysed using mean, standard deviation, ANOVA, and regression using SPSS version 22. The study indicated that foreign oil companies often use compromise to resolve disagreements with host communities in the Niger Delta. The essential connection that international oil companies have with oil-producing communities in the region is unfavourable, as is the use of compromise tactics to resolve disputes. The study showed no statistically significant differences between compromise methods and host locations in addressing conflict. This report also proposed that international oil companies should stop dominating and start integrating and cooperating with the region's oil-producing communities.

      Keywords: Group Communication, Conflict, Firms, Relationship, Niger Delta, Nigeria

      Authors' individual contribution: Conceptualization — W.O.O. and P.E.E.; Methodology — W.O.O. and P.E.E.; Investigation — W.O.O., P.E.E., and N.M.A.; Resources — W.O.O., S.O.A., P.E.E., W.O.O., N.M.A., and D.C.O.; Writing — Original Draft — W.O.O., S.O.A., and P.E.E.; Writing — Review & Editing — W.O.O., S.O.A., and P.E.E.; Supervision — W.O.O.

      Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

      JEL Classification: L260, M13, M48

      Received: 15.03.2022
      Accepted: 14.09.2022
      Published online: 16.09.2022

      How to cite this paper: Odiwo, W. O., Akhor, S. O., Egielewa, P. E., Olley, W. O., Agol, N. M., & Ozuomode, D. C. (2022). Intergroup communication, conflict handling style and the quality relationship of multinational firms with oil producing communities. Journal of Governance & Regulation, 11(4), 78–89. https://doi.org/10.22495/jgrv11i4art8

      2022-09-16T13:49:20Z
       
  • Is unconventional monetary policy mediated by banks' liquidity and
           solvency ratios' Evidence from the European banking sector
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      We try to answer the following research question: Is unconventional monetary policy (UMP) mediated by European banks' liquidity and solvency ratios? Starting from micro-prudential tools (unconventional monetary policy), this paper focuses on the micro-prudential perspective and contributes in different ways to the existing literature. First, using supervisory reporting data from European banks (European Central Bank (ECB), Statistical Data Warehouse), provides insights into the UMP (in terms of long term refinancing operation (LTRO)) during the first phase of the COVID 19 pandemic. Second, it empirically investigates the impacts of the LTRO on the liquidity and solvency of European banks, during the Q32016‒Q22021 period. We argue that the impacts of UMP (in terms of LTRO) are strictly related to banks' solvency and liquidity, thus favouring the stability of the banking system. These results suggest that authorities may want to monitor the bank's capital ratio and the liquidity position of financial institutions, also to better understand the effects of unconventional monetary tools on lending volume. The topic of our paper is scarcely explored by similar studies; therefore, we believe that our work may fill this gap and significantly contribute to enriching the related empirical literature.

      Keywords: Unconventional Monetary Policy, Liquidity, Solvency, European Banking System, COVID-19 Pandemic

      Authors' individual contribution: Conceptualization — P.A., P.C., and P.P.; Methodology — P.A., P.C., and P.P.; Formal Analysis — P.A., P.C., and P.P.; Investigation — P.A., P.C., and P.P.; Resources — P.A., P.C., and P.P.; Writing — Original Draft — P.A., P.C., and P.P.; Writing — Review & Editing — P.A., P.C., and P.P.; Visualization — P.A., P.C., and P.P.; Supervision — P.A., P.C., and P.P.

      Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

      JEL Classification: E52, E58, G21

      Received: 28.04.2022
      Accepted: 12.09.2022
      Published online: 14.09.2022

      How to cite this paper: Agnese, P., Capuano, P., & Porretta, P. (2022). Is unconventional monetary policy mediated by banks' liquidity and solvency ratios? Evidence from the European banking sector. Journal of Governance & Regulation, 11(4), 68–77. https://doi.org/10.22495/jgrv11i4art7

      2022-09-14T10:58:51Z
       
  • Balkan financial development and its impact on economic growth: Granger
           causality
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      This paper examines the relationship between financial development and economic growth for the six countries of the Western Balkan (Albania, Montenegro, North Macedonia, Kosovo, Bosnia and Herzegovina, and Serbia) for the period 2005–2019. To determine the direction of the causality between economic growth and financial development, we employed the vector autoregression VAR approach. Findings indicate evidence for the supply leading theory (Hurlin & Venet, 2008; McKinnon, 1973; Patrick, 1966; Shaw, 1973): financial development causes economic growth overall, especially when private credit was used as the proxy for it. Yet, we observed bi-directional links when financial development was proxied by broad money. Furthermore, interest spread affected economic growth. The findings also indicate a positive relationship between broad money and private credit taken together to GDP growth, but only in the first lag; in the second lag, the inverse effect of broad money and private credit on GDP growth became evident. On a comparative scale, private credit was found to have a bigger impact on GDP than broad money. We also observe that the banking system intermediaries have a significant role in spurring economic growth in the region.

      Keywords: Panel Data Models, Financial Sector, Economic Growth, Finance, Balkans

      Authors' individual contribution: Conceptualization — R.V.; Methodology — R.V.; Data Collection — R.V.; Formal Analysis — R.V.; Writing — Original Draft — R.V.; Writing — Review & Editing — B.G.; Supervision — B.G.; Project Administration — R.V.

      Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

      JEL Classification: G2, O5, P2

      Received: 15.03.2022
      Accepted: 09.09.2022
      Published online: 13.09.2022

      How to cite this paper: Vangjel, R., & George, B. (2022). Balkan financial development and its impact on economic growth: Granger causality. Journal of Governance & Regulation, 11(4), 59–67. https://doi.org/10.22495/jgrv11i4art6

      2022-09-13T14:35:16Z
       
  • Stakeholder engagement strategies assessment in expanded public works
           programme
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      South Africa has evolved and defeated a blemished past of apartheid before 1994. Even after 27 years of democracy, South Africa has been struggling to stabilise economic markets with continued control by the white minority that marginalised the black community. The unemployment rate in the Province of the Eastern Cape in South Africa has grown from 28.5% in 1993 to 45.8% in quarter 3 of 2020 (ECSECC, 2020). Set targets have not been met since 2018, with programmes implemented not attractive nor conducive for the targeted youth and persons with disabilities. The study critically evaluated the existence and the extent of stakeholder management strategies in the Expanded Public Works Programme (EPWP) within the Eastern Cape Department of Transport and the effects of not meeting the set youth and persons with disabilities targets over the years. To gain lived experiences of beneficiaries, a case study of the household Contractor Programme was used in three districts through group semi-structured interviews with non-probability purposive sampling used to select respondents using a primary data collection instrument. Data received was analysed with themes using a descriptive analysis approach to narrate the lived experiences of participants within EPWP. Results revealed a need for improved stakeholder diversity and inclusion, communication with stakeholders, management oversight, policy guidance, monitoring and evaluation within EPWP projects.

      Keywords: Public Policy, Transportation, Road Maintenance, Stakeholder Engagement, Expanded Public Works Programme, Eastern Cape, South Africa

      Authors' individual contribution: Conceptualization — A.B.; Methodology — A.B.; Writing — Original Draft — A.B.; Writing — Review & Editing — B.Y.; Visualization — A.B.; Project Administration — A.B; Funding Acquisition — B.Y.

      Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

      Acknowledgements: This work was supported by the National Treasury of South Africa, which funded this study. The Eastern Cape Department of Transport supported the studies and facilitated the interview with EPWP participants for data collection. The authors declare that no financial or personal relationships could have improperly affected them while writing this article.

      JEL Classification: Z180, R410, R420

      Received: 10.01.2022
      Accepted: 05.09.2022
      Published online: 08.09.2022

      How to cite this paper: Best, A., & Yalezo, B. (2022). Stakeholder engagement strategies assessment in expanded public works programme. Journal of Governance & Regulation, 11(4), 46–58. https://doi.org/10.22495/jgrv11i4art5

      2022-09-08T13:41:12Z
       
  • Implementation of the principles of financial governance in service
           companies
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The principles of financial governance that can be used to guide the design of service organizations are accountability, efficiency, transparency, legitimacy, and inclusiveness (Lockwood, Davidson, Curtis, Stratford, & Griffith, 2010). Financial governance mechanisms are also important for institutions for business continuity (Gennaro & Nietlispach, 2021). This study aims to analyze the principles of financial governance of companies traveling for Hajj and Umrah services. The research uses a qualitative approach with a phenomenological method that describes and gives meaning to the data. Data were obtained through interviews with the president's director, director of operations, and finance department. Based on the results of data analysis, it shows that the five principles of financial management that become one unit can be implemented in the form of 1) binding and saving independently, guaranteeing the commitment of both parties; 2) determining packages and costs to facilitate Hajj pilgrims with various requests for facilities; 3) pay for departure, meaning that the company only receives payment after confirmation and schedule of departure; 4) bookkeeping is carried out on every financial transaction that has an impact on account changes; and 5) Infaq and empowerment as a form of redistribution of income and community welfare. The implementation of the five principles of financial governance from this study can be adopted for Hajj and Umrah travel agencies, especially in Muslim-majority countries.

      Keywords: Financial Governance, Qualitative Approach, Organizing Services, Implementation

      Authors' individual contribution: Conceptualization — N.F.; Methodology — N.F. and E.E.; Investigation — E.E.; Resources — N.F.; Data Curation — N.F. and E.E.; Writing — Original Draft — N.F.; Writing — Review & Editing — E.E.; Supervision — N.F. and E.E.; Project Administration — E.E. and N.F.; Funding — N.F.

      Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

      JEL Classification: G32, G34, G41, D73

      Received: 07.01.2022
      Accepted: 02.09.2022
      Published online: 06.09.2022

      How to cite this paper: Fatmawatie, N., & Endri, E. (2022). Implementation of the principles of financial governance in service companies. Journal of Governance & Regulation, 11(4), 33–45. https://doi.org/10.22495/jgrv11i4art4

      2022-09-06T14:21:27Z
       
  • Asymmetrical sequential decentralization: Resetting the paradigm of
           regional autonomy
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      This paper explores the issues related to the future regional autonomy regulation in Indonesia as an evaluation material and efforts to find and reformulate the ideal form of decentralization as the basis for working relations between the central and the regional government. The “zigzag” pattern that has been applied in autonomy policy in Indonesia, between centralization or decentralization and between symmetrical or asymmetrical decentralization, does not indicate any grand design in the implementation of regional autonomy. Therefore, a new blueprint that is able to become a paradigm and guideline for the implementation of regional autonomy in Indonesia is needed in order to achieve regional fiscal independence. This research is normative legal research based on deductive logic to build positive law by using secondary data sources and legal materials (Marzuki, 2010). This research indicated that the meaning of decentralization as a process (Falleti, 2005) and the educational mechanism are significantly related to achieving regional independence. In essence, the transfer of knowledge concerning the government's capability in management should be more prioritized and must be given first before handing over the autonomy authority.

      Keywords: Regional Autonomy, Decentralization, Asymmetrical Sequential Decentralization, Fiscal Independence, Indonesia

      Authors' individual contribution: Conceptualization — R.I.A. and I.; Methodology — R.I.A. and I.; Formal Analysis — R.I.A. and I.; Investigation — R.I.A, and I.; Writing — Original Draft — R.I.A. and I.; Writing — Review & Editing — R.I.A. and I.; Supervision — I.

      Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

      JEL Classification: H71, K19, K29

      Received: 01.03.2022
      Accepted: 29.08.2022
      Published online: 31.08.2022

      How to cite this paper: Amin, R. I., & Isharyanto. (2022). Asymmetrical sequential decentralization: Resetting the paradigm of regional autonomy. Journal of Governance & Regulation, 11(4), 24–32. https://doi.org/10.22495/jgrv11i4art3

      2022-08-31T13:27:27Z
       
  • Organisational citizenship behaviour's antecedents as predictors of job
           satisfaction: Empirical evidence from banks in emerging economies
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      It was imperative to determine the impact of antecedents of organisational citizenship behaviour of altruism and conscientiousness on job satisfaction in the banking sector since this strategic sector has been experiencing employee job dissatisfaction-related challenges as evidenced by high staff turnover. The reviewed literature focused on the effect of Organ's (1998) organizational citizenship behavior (OCB) dimensions of altruism and conscientiousness and employee job satisfaction. The article adopted a positivist philosophy and the explanatory research design since it sought to establish cause and effect relationships between the two constructs. The target population was 150 and a sample of 109 participants was used. A simple random sampling technique was used to select study participants. A Likert scale questionnaire was employed to collect data electronically due to the COVID-19 pandemic movement restrictions. The study findings were that both altruism and conscientiousness have a positive and significant impact on job satisfaction in the banking sector. Thus, it was recommended that the banking sector should create workplace environments that foster OCB to enhance employee job satisfaction. This study was critical since banks are a strategic sector (Bonga, Chirenje, & Mugayi, 2019), particularly in emerging economies as providers of start-up and working capital to both public and private organisations.

      Keywords: Organisational Citizenship Behaviour, Antecedents, Altruism, Conscientiousness, Predictor of Job Satisfaction, Banking Sector and Emerging Economies

      Authors' individual contribution: Conceptualization — G.M.; Methodology — C.M.; Investigation — G.M.; Writing — Review & Editing — E.M.; Visualization — G.M.; Funding Acquisition — E.M.

      Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

      Acknowledgements: The publication fees for this article are funded by the University of KwaZulu-Natal, South Africa.

      JEL Classification: M1, M120, L10

      Received: 01.12.2021
      Accepted: 26.08.2022
      Published online: 30.08.2022

      How to cite this paper: Maibvisira, G., Mutambara, E., & Mashia, C. (2022). Organisational citizenship behaviour's antecedents as predictors of job satisfaction: Empirical evidence from banks in emerging economies. Journal of Governance & Regulation, 11(4), 16–23. https://doi.org/10.22495/jgrv11i4art2

      2022-08-30T13:58:41Z
       
  • Detecting and preventing fraud with big data analytics: Auditing
           perspective
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      Fraud exposes a business to a variety of significant financial risks that can threaten both its profitability and public image. All firms are almost certain to be victimized by some form of economic crime or fraud. As a result, the business world's revolution in big data and data analytics plays a critical role in the establishment of competitive companies, as big data is already being used in a wide variety of industries (Rezaee & Wang, 2019) and is referred to as the next frontier in terms of productivity, innovation, and competition (Al-Marzooqi, 2021). This paper aims to explore how auditors use big data analytics to detect and prevent fraud in their audit work, the benefits, and barriers of incorporating big data analytics into audit practice. Methodologically, this study conducted a library search and evaluated prior literature reviews on the subject of big data analytics and the auditing profession. The resources span a range of items, from online and print sources to articles in journals and chapters in books. Numerous databases, including Scopus, Web of Science, Science Direct, and Google Scholar, were searched between 2011 and 2022 to compile literature on the subject. This paper makes recommendations on how to improve data analytics approaches for detecting and preventing fraud as well as discusses limitations and future studies.

      Keywords: Big Data, Data Analytics, Fraud Prevention, Fraud Detection, Auditing

      Authors' individual contribution: Conceptualization — I.R. and R.J.J.; Methodology — N.A.M.H.; Resources — N.A.M.H., S.A.H.S.H., and A.M.M.; Formal Analysis — R.J.J. and N.A.M.H.; Writing — Original Draft — I.R. and N.A.M.H.; Writing — Review & Editing — I.R. and R.J.J.; Supervision — I.R.; Project Administration — N.A.M.H., S.A.H.S.H., and A.M.M.

      Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

      Acknowledgements: The Authors gratefully acknowledge Universitas Swadaya Gunung Jati (Indonesia), Universiti Teknologi MARA (Malaysia), Esco Micro (M) Sdn Bhd (Malaysia), National Audit Department of Malaysia, and Universitas Negeri Jakarta (Indonesia) for all supports and resources.

      JEL Classification: M4

      Received: 06.01.2022
      Accepted: 25.08.2022
      Published online: 26.08.2022

      How to cite this paper: Rosnidah, I., Johari, R. J., Mohd Hairudin, N. A., Hussin, S. A. H. S., & Musyaffi, A. M. (2022). Detecting and preventing fraud with big data analytics: Auditing perspective. Journal of Governance & Regulation, 11(4), 8–15. https://doi.org/10.22495/jgrv11i4art1

      2022-08-26T13:04:03Z
       
  • Editorial: Towards a comprehensive review of corporate governance
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      This issue of the Journal of Governance and Regulation was published on August 24, 2022.

      By clicking the button "Download This Article" you will gain direct access to the Editorial of the issue.

      How to cite: Shahrour, M. H. (2022). Editorial: Towards a comprehensive review of corporate governance. Journal of Governance and Regulation, 11(3), 4–6. https://doi.org/10.22495/jgrv11i3editorial

      2022-08-24T10:17:47Z
       
  • Auditor's skepticism, forensic accounting, investigation audit and fraud
           disclosure of corruption cases
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      This study aims to develop a fraud disclosure model for corruption cases in the local government environment in Sulawesi through forensic accounting and investigative audits with internal auditor skepticism as moderating. Forensic accounting and investigative auditing are a series of relationships in the examination of fraud. Fraud becomes the main object that is fought in forensic accounting and is proven in investigative audits. This research was conducted by distributing questionnaires to all auditors at Finance and Development Supervisory Agency or Badan Pengawasan Keuangan dan Pembangunan (BPKP), Audit Board of the Republic of Indonesia or Badan Pemeriksa Keuangan (BPK), and internal auditors at Social Security Agency or Badan Penyelenggara Jaminan Sosial Kesehatan (BPJS Kesehatan) throughout Indonesia. The number of respondents whose opinions can be used for this study amounted to 118 questionnaires. The results showed that forensic accounting can reduce the level of disclosure of fraud. The results of other research studies also show that good investigative audit practices by auditors can reduce the level of fraud disclosure. Auditor skepticism in auditing practices can strengthen the forensic accounting relationship which results in a reduced level of fraud disclosure and investigative audit relationships which results in a reduced level of fraud disclosure.

      Keywords: Forensic Accounting, Investigation Audit, Fraud, Corruption, Auditor Skepticism

      Authors' individual contribution: Conceptualization — S.L. and F.Z.; Methodology — S.L., M.I.A., and A.K.; Data Curation — F.M.S. and N.A.S.; Formal Analysis — F.Z. and A.K.; Investigation — F.M.S. and N.A.S.; Writing — Original Draft — S.L., F.Z., and M.I.A.; Writing — Review & Editing — S.L. and F.Z.

      Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

      JEL Classification: H79, H83, M40

      Received: 09.03.2022
      Accepted: 08.08.2022
      Published online: 10.08.2022

      How to cite this paper: Laupe, S., Abdullah, M. I., Kahar, A., Saleh, F. M., Zahra, F., & Syamsuddin, N. A. (2022). Auditor's skepticism, forensic accounting, investigation audit and fraud disclosure of corruption cases. Journal of Governance & Regulation, 11(3), 189–196. https://doi.org/10.22495/jgrv11i3art16

      2022-08-10T13:49:44Z
       
  • Challenges of consumer protection in the life insurance industry: A
           qualitative study
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      In the financial sector, trust is essential. The economic crisis of 1998 was one of the financial scandals affecting Indonesia. This phenomenon prompted the regulator to ensure that Indonesians received adequate consumer protection, directly impacting the Indonesian financial sector, especially the life insurance sector, where penetration has remained low over the past decade. Due to its long-term nature and significant economic contribution (OJK [Otoritas Jasa Keuangan], 2017), life insurance is at the forefront of the right to adequate consumer protection, which includes the disclosure of accurate and reliable information when purchasing or selling insurance. This study examined the current state of consumer protection experiences in Indonesia's life insurance industry based on empirical research. This study investigated how these requirements are viewed regarding the benefits and difficulties associated with their implementation. A qualitative study employing the case study research methodology was conducted to examine the life insurer experiences of the sampled life insurance companies. Despite the numerous benefits and risks, the study found that consumer protection is still being implemented in the workplace, albeit inconsistently and not optimally. The study demonstrates the significance of enhancing need-based selling, consistent consumer protection, and trust-building efforts by life insurers. This study provides regulators with valuable feedback on the need to enhance their oversight, financial literacy, and regulatory challenges. Finally, this study identified opportunities for further research into the optimal customer engagement strategy to address industry issues.

      Keywords: Consumer Protection, Life Insurance, Regulation, Customer Experiences, Qualitative Research

      Authors' individual contribution: Conceptualization — A.N.T. and J.T.P; Methodology — A.N.T. and R.P.; Software — A.N.T.; Validation — A.N.T.; Formal Analysis — A.N.T.; Investigation — A.N.T.; Resources — A.N.T.; Data Curation — A.N.T.; Writing — Original Draft — A.N.T.; Writing — Review & Editing — R.P. and E.H.; Visualization — A.N.T.; Supervision — J.T.P.; Project Administration — A.N.T. and J.T.P.; Funding Acquisition — A.N.T.

      Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

      JEL Classification: K2, L80, O31

      Received: 08.03.2022
      Accepted: 05.08.2022
      Published online: 08.08.2022

      How to cite this paper: Tobing, A. N., Purba, J. T., Parani, R., & Hariandja, E. (2022). Challenges of consumer protection in the life insurance industry: A qualitative study. Journal of Governance & Regulation, 11(3), 179–188. https://doi.org/10.22495/jgrv11i3art15

      2022-08-08T13:57:03Z
       
 
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