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Corporate Board : Role, Duties and Composition     Open Access  
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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]
  • Impact of fiscal and macroeconomic imbalances on economic growth: A
           context of regulation
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      Promoting sound fiscal policies and sustainable economic growth is a global priority, including in Nepal. This study analyzes the effect of fiscal and macroeconomic imbalances on the Nepalese economy from 2006–2007 to 2020–2021. Utilizing time series data, the study examines the relationship between gross domestic product (GDP), budget deficit, trade deficit, and foreign direct investment (FDI). The augmented Dickey-Fuller (ADF) test confirms variables' stationarity at the first difference, with long-term relationships analyzed through the Johansen cointegration test (JCT) and short-term changes captured by the error correction model (ECM). Short-term economic growth (i.e., GDP) exhibits a negative correlation with the budget deficit and a positive correlation with the trade deficit and FDI, though not statistically significant (p> 0.05). However, these variables are cointegrated in the long run, emphasizing their interconnectedness and potential linear combination. The error correcting term (-0.034) indicates a convergence speed of 3.4 percent towards long-term equilibrium. Additionally, diagnostic tests confirm the stability of coefficients in the employed models. The results align with Ahmad et al. (2013) in Pakistan but contrast with Aung (2017) in Myanmar, suggesting that while a trade deficit may stimulate short-term growth, its prolonged existence could potentially harm the nation's economic growth in the long term.

      Keywords: Trade Deficits, Budget, Foreign Direct Investment (FDI), Gross Domestic Product (GDP), Economic Growth

      Authors' individual contribution: Conceptualization — D.K.; Methodology — D.K., R.K.D., and G.B.; Software — D.K., R.K.D., and B.G.; Validation — R.K.D., G.B., and S.P.J.; Formal Analysis — R.K.D. and B.G.; Investigation — D.K. and R.K.D.; Resources — D.K., B.G., and S.P.J.; Data Curation — G.B., B.G., and S.P.J.; Writing — Original Draft — D.K.; Writing — Review & Editing — D.K., R.K.D., and B.G.; Visualization — D.K., G.B., and S.P.J.; Supervision — R.K.D., G.B., and B.G.; Project Administration — R.K.D.; Funding Acquisition — D.K., R.K.D., G.B., B.G., and S.P.J.

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

      JEL Classification: E12, E14, E62, F62

      Received: 10.10.2023
      Accepted: 12.07.2024
      Published online: 17.07.2024

      How to cite this paper: Karki, D., Dahal, R. K., Bhattarai, G., Ghimire, B., & Joshi, S. P. (2024). Impact of fiscal and macroeconomic imbalances on economic growth: A context of regulation. Journal of Governance & Regulation, 13(3), 84–95. https://doi.org/10.22495/jgrv13i3art7

      2024-07-17T09:14:40Z
       
  • Development of e-government public policy implementation model in online
           tax services
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The online tax (e-tax) program aims to increase compliance monitoring in fulfilling obligations and is expected to increase regional tax revenues from the tax sector. However, in implementing e-tax, there are obstacles in terms of targets, limited users and budgets, supporting tools, and human resource competence. This research aims to discover, describe, and analyze the implementation of e-government policies by the Gorontalo City government through the e-tax program. The research method employs interactive model data analysis with stages of data condensation, data display, and conclusion drawing. The research findings indicate that e-government policies in public services through the Gorontalo City e-tax system run optimally, including presence, interaction, and transaction. Additionally, this research reveals that the determinant factors for policy implementation exist and are very helpful in implementing policies based on the elements of support, capacity, and values. In conclusion, the findings develop the commitment factor theory, which includes the commitment of leadership, organization, and society. The relevance of the findings signifies that no matter how sophisticated the system is, it will only be optimal if the commitment from the leadership, organization, and community is established.

      Keywords: E-Government, Public Policy, E-Tax, Public Service

      Authors' individual contribution: Conceptualization — I.S.; Investigation — I.S., R.L., and W.G.; Resources — M.P.; Writing — Original Draft — I.S.; Writing — Review & Editing— I.S. and I.R.S.; Supervision — I.S. and W.G.

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

      JEL Classification: H83, M38, J48, I28, H26

      Received: 16.06.2023
      Accepted: 10.07.2024
      Published online: 15.07.2024

      How to cite this paper: Sulila, I., Santoso, I. R., Polin, M., Lukum, R., & Gobel, W. (2024). Development of e-government public policy implementation model in online tax services. Journal of Governance & Regulation, 13(3), 70–83. https://doi.org/10.22495/jgrv13i3art6

      2024-07-15T13:05:42Z
       
  • Economic and social factors and the impact of COVID-19 on the success and
           failure of women entrepreneurs: A study of governance context
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The success of Jordanian women entrepreneurs during the COVID-19 pandemic has been affected by a range of non-financial factors. The research aims to understand the impact of economic and social factors on the success and failure of Jordanian women entrepreneurs, with a focus on the effects of the COVID-19 pandemic. On the other hand, this study sheds light on the reasons for the success of the projects of female entrepreneurs in Jordan, so it helps women to know the strengths that help them in the continuity and success of the project, after interviews conducted with 32 female entrepreneurs. The result was that the research confirms that project success goes beyond the financial aspects and involves careful planning and skills acquisition. This holistic perspective means that support programs should include a broader range of training modules, including business planning, project management, and personal skills development. By addressing these multifaceted aspects, women entrepreneurs can build a more resilient foundation for their businesses. In summary, entrepreneurship is not only affected by financial matters, and COVID-19 did not only have a bad effect, but it had a good effect on most women. Therefore, we must take into account that it was a reason for the success of most women in their projects.

      Keywords: Economic Factors, Social Factors, COVID-19, Women Entrepreneurs, Jordan, Sustainable Development Goals (SDG)

      Authors' individual contribution: Conceptualization — R.I.; Methodology — R.I. and L.M.; Investigation — R.I.; Writing — Original Draft — R.I. and L.M.; Writing — Review & Editing — R.I., L.M., and Q.M.T.; Visualization — R.I. and L.M.; Supervision — R.I. and Q.M.T.

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

      JEL Classification: L26, M13, O10

      Received: 02.12.2023
      Accepted: 08.07.2024
      Published online: 11.07.2024

      How to cite this paper: Istaiteyeh, I., Mansour, L., & Talafha, Q. M. (2024). Economic and social factors and the impact of COVID-19 on the success and failure of women entrepreneurs: A study of governance context. Journal of Governance & Regulation, 13(3), 57–69. https://doi.org/10.22495/jgrv13i3art5

      2024-07-11T06:52:48Z
       
  • Effects of capital ratio, quality of receivables, liquidity, and gearing
           ratio on profitability: A study financial institutions' governance
    • "Creative
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      Abstract

      This study aims to examine the effects of capital ratio, quality of receivable, liquidity, and gearing ratio on profitability in financial companies for the 2017–2020 period. This research data was obtained from the websites of companies registered with the Financial Services Authority (Otoritas Jasa Keuangan, OJK) using the purposive sampling method, which uses certain criteria, the number of samples used is 15 financing companies. The analytical method used in this study is multiple regression analysis using STATA 16. The results of this study show that the ratio of capital, the quality of receivables, liquidity, and gearing ratio (GR) simultaneously have a positive and significant effect on profitability. Based on the results of the t-test that has been carried out in this study, it can be concluded that the capital ratio has a negative and significant effect on profitability, the quality of receivables and gearing ratio has a negative and insignificant effect on profitability, and liquidity has a positive and insignificant effect on profitability. This research is consisting three conclusions, firstly, the capital ratio partially has a negative and significant effect on profitability. Secondly, the quality of receivables partially has a negative and insignificant effect on profitability. Thirdly, liquidity partially has a positive and insignificant effect on profitability. Fourthly, the gearing ratio has a negative and insignificant effect on profitability.

      Keywords: Capital Ratio, Quality of Receivable, Liquidity, Gearing Ratio, Financial Institutions

      Authors' individual contribution: Conceptualization — J.E.T. and R.F.K.P.; Formal Analysis — J.J.S. and S.J.C.W.; Validation — S.J.C.W.; Methodology — J.E.T. and R.F.K.P.; Writing — Original Draft — R.F.K.P.; Writing — Review & Editing — J.E.T. and J.J.S.; Supervision — J.E.T. and S.J.C.W.; Software — R.F.K.P.; Resources — J.E.T. and R.F.K.P.; Data Curation — J.E.T. and R.F.K.P.; Funding Acquisition — J.E.T., J.J.S., and S.J.C.W.

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

      JEL Classification: G23, G32

      Received: 01.05.2023
      Accepted: 05.07.2024
      Published online: 09.07.2024

      How to cite this paper: Tulung, J. E., Sondakh, J. J., Wangke, S. J. C., & Posumah, R. F. K. (2024). Effects of capital ratio, quality of receivables, liquidity, and gearing ratio on profitability: A study financial institutions' governance. Journal of Governance & Regulation, 13(3), 46–56. https://doi.org/10.22495/jgrv13i3art4

      2024-07-09T08:58:30Z
       
  • A regulatory appraisal of the Saudi Stock Exchange: A study based on
           secondary data
    • "Creative
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      Abstract

      This paper aims to appraise the Saudi Stock Exchange (Tadawul) with reference to various indicators like performance, structure, market size, share price index, etc. This study is motivated from the reform initiatives the Saudi Stock Exchange passes through in recent years because of the implantation of the nationwide strategy, Vision 2030 (Kumar, 2023). Using a published dataset, this study undertakes an appraisal mindset to highlight the performance of the market over 35 years' time (from 1985 to 2019). The analysis follows various descriptive statistics reflecting market trends over the periods across selected parameters. The findings of the study imply that the market is improving in every dimension supporting the reform initiatives (Alsuhaibani et al., 2023). The incremental contribution of the current study is to inform policymakers about the response of the market towards various policy interventions. However, the study warrants careful attention of market regulators to observe the gradual changes so that it may receive policy attention as necessary.

      Keywords: Saudi Stock Exchange, Tadawul, Vision 2030, Investors, Saudi Arabia

      Authors' individual contribution: Conceptualization — M.A.S.A.-F.; Methodology — M.A.S.A.-F. and N.C.S.; Validation — M.A.S.A.-F. and N.C.S.; Investigation — M.A.S.A.-F. and N.C.S.; Resources — M.A.S.A.-F.; Data Curation — M.A.S.A.-F.; Writing — Original Draft — M.A.S.A.-F. and N.C.S.; Writing — Review & Editing — M.A.S.A.-F. and N.C.S.; Visualization — M.A.S.A.-F. and N.C.S.; Supervision — M.A.S.A.-F.; Project Administration — M.A.S.A.-F.

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

      JEL Classification: G10, O16

      Received: 21.09.2023
      Accepted: 04.07.2024
      Published online: 08.07.2024

      How to cite this paper: Al-Faryan, M. A. S., & Shil, N. C. (2024). A regulatory appraisal of the Saudi Stock Exchange: A study based on secondary data. Journal of Governance & Regulation, 13(3), 27–45. https://doi.org/10.22495/jgrv13i3art3

      2024-07-08T12:32:50Z
       
  • Assessing the benefits of eurozone membership: Sovereign debt
           classification and economic impact in small and developing countries
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      This study is focused on the benefits received by countries that are part of the eurozone. The data from 28 member states of the European Union (EU), as well as Balkan countries, have been used to analyse the benefits of staying in the eurozone for the period of 2001–2021. This study first checked for the stationarity of the variables using the augmented Dickey-Fuller test, the interpretation of R2, and linear regression, as well as fixed and random models, taking into consideration that it deals with macroeconomic and fiscal data. The research hypothesis is substantiated through analysis, revealing that a country's inclusion in the eurozone positively affects its sovereign rating, positioning it 1.19 notches higher than those outside the eurozone. This finding aligns with the observations made by Martinez et al. (2022), who emphasize the positive implications of investor perceptions regarding government debt, providing easier access to financing and contributing to economic stability. Specifically examining the Europrim's impact before the COVID-19 pandemic, the study demonstrates that Balkan countries adopting the euro are positioned 9.22 places higher in sovereign debt classification. Similarly, amid the COVID-19 pandemic, these countries are listed 1.52 places above those not using the euro in sovereign debt ranking. This insight contributes to the ongoing discussion about the advantages of being part of the eurozone, especially in the context of economic and fiscal dynamics.

      Keywords: Exchange Rate, Balkan Countries, European Union, Monetary Policy, Europrim

      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: E44, F31, F34, G24

      Received: 14.08.2023
      Accepted: 02.07.2024
      Published online: 05.07.2024

      How to cite this paper: Hajdari, V. (2024). Assessing the benefits of eurozone membership: Sovereign debt classification and economic impact in small and developing countries. Journal of Governance & Regulation, 13(3), 17–26. https://doi.org/10.22495/jgrv13i3art2

      2024-07-05T12:58:07Z
       
  • Impact of data cultural aspect to data governance program in higher
           education
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      Higher education is currently facing a data revolution. Universities are flooded with ever-increasing data, but the information tends to be poor. Some universities implement data governance programs (DGPs) by first assessing the level of data governance maturity. From these results, it was concluded that the gap was a problem. The gaps that occur in several frameworks are related to processes, technology, and people. In principle, when improving data governance, the process and technology parts can be improved relatively easily because there are clear indicators that need attention. The problem that still occurs is related to the involvement of users or people or actors in the data governance process. The university also needs a mechanism that can resolve problems in implementing data governance. The reason is the concept of data culture. This paper proposes a measurement mechanism to determine which aspects of data culture will influence the implementation of data governance. The research was conducted using the multiple linear regression (MLR) method to look at the domain of data culture aspects that influence the implementation of the DGP. The research results show that of the three research variables, namely domain importance, planning and context (IPC), domain perception, usability and communication (PUC), and domain people, leadership, and relationship (PLR), the PLR variable is the variable that has the greatest influence on DGP compared to the other two variables. Further research opportunities to assess the maturity of data culture program implementation in universities and other organizations can be made possible by this study.

      Keywords: Data Cultural, Data Governance Program, Higher Education, Multiple Linear Regression, DAMA International, Recommendation

      Authors' individual contribution: Conceptualization — F.A.T.; Validation — F.A.T.; Investigation — F.A.T. and H.N.P.; Resources — F.A.T. and H.N.P.; Data Curation — H.N.P.; Writing — F.A.T. and H.N.P.

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

      JEL Classification: C3, O2, O3

      Received: 22.07.2023
      Accepted: 01.07.2024
      Published online: 04.07.2024

      How to cite this paper: Tridalestari, F. A., & Prasetyo, H. N. (2024). Impact of data cultural aspect to data governance program in higher education. Journal of Governance & Regulation, 13(3), 8–16. https://doi.org/10.22495/jgrv13i3art1

      2024-07-04T10:25:49Z
       
  • Editorial: New horizons and developments in the field of public
           governance, regulatory mechanisms, and fraud detection in the light of
           macroeconomic imperatives
    • "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 July 2, 2024.

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

      How to cite: Hundal, S. (2024). Editorial: New horizons and developments in the field of public governance, regulatory mechanisms, and fraud detection in the light of macroeconomic imperatives [Special issue]. Journal of Governance & Regulation, 13(2), 240–241. https://doi.org/10.22495/jgrv13i2sieditorial

      2024-07-02T10:43:22Z
       
  • Sustainable tourism governance: A study of the impact of culture
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      This study meticulously explores the intricate interplay between sustainable tourism and the preservation of cultural heritage, focusing on how tourism practices can foster the protection and revitalization of cultural and ethnic traditions within diverse communities in Thanh Hoa province, Vietnam (Pan et al., 2018). The research problem centers on understanding how sustainable tourism contributes to cultural preservation and the economic upliftment of ethnic minority groups. The research aims to unveil how sustainable tourism can act as a catalyst for cultural exchange, economic development, and the safeguarding of natural and cultural assets, with a particular emphasis on the involvement and empowerment of ethnic minority communities in the tourism development process (Datta et al., 2015). Employing multivariate linear regression as its primary research method, the study rigorously analyzes case studies to draw correlations between sustainable tourism activities and their impacts on cultural preservation. The main findings reveal that sustainable tourism practices significantly contribute to protecting cultural heritage, enhancing community participation, and fostering responsible tourism policies. These practices not only support the economic sustainability of ethnic minority groups but also ensure the conservation of their unique cultural identities. The implications of this research are profound, offering valuable insights for policymakers and tourism practitioners aiming to harmonize cultural heritage conservation with community well-being. By advocating for the integration of community perspectives into tourism planning and policy formulation, this study underscores the potential of sustainable tourism to serve as a powerful tool for cultural and economic revitalization, highlighting its importance in the broader context of cultural heritage management and sustainable development (Gould, 2018).

      Keywords: Sustainable Tourism, Ethnic, Cultural, Preservation, Ethnic Minority, Vietnam

      Authors' individual contribution: Conceptualization — T.N.N.; Methodology — H.N.T.; Software — T.N.N.; Validation — T.N.T.; Formal Analysis — T.V.T.; Investigation —T.N.D.; Resources —T.N.D.; Data Curation — T.N.N.; Writing — Original Draft — H.N.T.; Writing — Review & Editing — H.N.T.; Visualization —T.N.D.; Project Administration — H.N.T.

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

      JEL Classification: H7, R1

      Received: 20.11.2023
      Accepted: 20.06.2024
      Published online: 25.06.2024

      How to cite this paper: Nguyen Thi, H., Nguyen Thi, T., Vu Trong, T., Nguyen Duc, T., & Nguyen Nghi, T. (2024). Sustainable tourism governance: A study of the impact of culture [Special issue]. Journal of Governance & Regulation, 13(2), 474–485. https://doi.org/10.22495/jgrv13i2siart22

      2024-06-25T12:10:58Z
       
  • The effect of digital financial literacy on financial development and
           governance: Using panel vector autoregressive model
    • "Creative
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      Abstract

      The study examined the impact of digital financial literacy on financial development utilizing a panel vector autoregressive (PVAR) model and panel data encompassing 108 countries from 2017 to 2021. In addition, Panel Granger causality tests were employed. The findings of the estimation indicated that enhancing digital financial literacy leads to an increase in financial development. The panel Granger causality tests strongly support the existence of a causal relationship between the Composite Digital Financial Literacy Index (CDFLI) and the Financial Development Index (FDI). Furthermore, the panel impulse response function demonstrated a significant and time-varying relationship between CDFLI and FDI. The variance decomposition revealed that variations in the FDI can be explained by changes in the CDFLI. Overall, digital financial literacy plays a crucial role in fostering financial. Given the continuous technological advancements in the financial industry, individuals must possess essential skills and knowledge to make well-informed decisions and effectively manage their finances. Policymakers bear the responsibility of promoting financial education and ensuring the accessibility and usability of digital financial services. This study contributes to the existent studies on the effect of digital financial literacy on financial development, building upon the works of Basha (2023) and Muat et al. (2024).

      Keywords: Digital Financial Literacy, Financial Development, Panel Vector Autoregressive

      Authors' individual contribution: Conceptualization — A.A.A.-M., Methodology — A.A.A.-M.; Writing — Original Draft — A.A.A.-M., S.D.A.-O., and A.A.A.-S.; Writing — Review & Editing — A.A.A.-M., S.D.A.-O., A.A.A.-S., and S.R.A.-M.

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

      JEL Classification: G100, G180, G400

      Received: 02.12.2023
      Accepted: 18.06.2024
      Published online: 21.06.2024

      How to cite this paper: Al-Majali, A. A., Al Oshaibat, S. D., Al-Sarayreh, A. A., & Al Manaseer, S. R. (2024). The effect of digital financial literacy on financial development and governance: Using panel vector autoregressive model [Special issue]. Journal of Governance & Regulation, 13(2), 465–473. https://doi.org/10.22495/jgrv13i2siart21

      2024-06-21T09:16:23Z
       
  • Factors affecting the stages of management accounting evolution: The
           developing market research
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      Management accounting is essential in supporting strategic decision-making and organizational competitiveness. However, the majority of Vietnamese businesses have not paid enough attention to management accounting practices (MAPs) (Doan, 2012; Nguyen et al., 2019). This study aims to analyze the factors influencing the evolution of management accounting in Vietnam based on the International Federation of Accountants (IFAC) model. Primary data were collected from 250 enterprises in Vietnam, and SPSS 26 was employed to examine the hierarchical multiple regression model. The findings show that production technology, intensity of competition, business environment stability, business strategy, and age of enterprises influence the evolution of management accounting in Vietnam. However, the research model was unable to verify the anticipated correlation between the characteristics of products, the information demands of managers, the qualifications of accountants, the information technology systems, and the management accounting evolution in Vietnamese companies. A variety of related parties may benefit from this study's results. Corporate managers could identify the determinants influencing management accounting development in their companies. In addition, the research findings provide scholars, and practitioners with empirical evidence about the evolutionary stages of management accounting and the factors influencing its progress in an emerging market. Furthermore, the state authorities may consult these factors to establish a framework guiding the application of strategic management accounting in Vietnam.

      Keywords: Management Accounting, Factors, Evolution, Stages, Vietnam

      Authors' individual contribution: Conceptualization — N.T.P.D. and N.T.H.L.; Methodology — N.T.P.D. and N.T.H.L.; Validation — N.T.P.D. and N.T.H.L.; Formal Analysis — N.T.P.D. and N.T.H.L.; Investigation — N.T.P.D. and N.T.H.L.; Writing — Review & Editing — N.T.P.D. and N.T.H.L.; Visualization — N.T.P.D. and N.T.H.L.; Supervision — N.T.P.D. and N.T.H.L.

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

      JEL Classification: M40, M41

      Received: 16.01.2024
      Accepted: 17.06.2024
      Published online: 20.06.2024

      How to cite this paper: Dung, N. T. P., & Lien, N. T. H. (2024). Factors affecting the stages of management accounting evolution: The developing market research [Special issue]. Journal of Governance & Regulation, 13(2), 452–464. https://doi.org/10.22495/jgrv13i2siart20

      2024-06-20T08:05:24Z
       
  • Unemployment in the Balkan countries and policies for its reduction
    • "Creative
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      Abstract

      This paper examines the problem of unemployment in the Balkan countries, its causes, consequences, and policies. The paper analyzes the comparative aspects of unemployment in the region, highlighting the differences among the countries regarding economic development, labor market institutions, and structural reforms. The study argues that unemployment in the Balkan countries is a legacy of the transition from socialism to the market economy, which resulted in massive job losses, low productivity, skill mismatches, and informality (Cipan, 2019). Also, reviews the active and passive labor market policies implemented in the Balkan countries to address unemployment and evaluates their effectiveness and impact. The paper shows that the policies have been largely insufficient, fragmented, and poorly targeted, failing to address the structural and institutional barriers that hinder job creation and employment. The study concludes that unemployment in the Balkan countries is a complex and persistent challenge that requires a comprehensive and coordinated approach, involving both national and regional actors, as well as the support of the international community. The paper contributes to the literature on unemployment in the Balkan countries by providing a comprehensive and updated overview of the issue, and by suggesting some policy recommendations for its reduction.

      Keywords: Unemployment, Transition, Balkan Countries, Policies, Integration, Stability

      Authors' individual contribution: Conceptualization — N.O. and P.N.; Methodology — N.O. and A.M.; Validation — P.N. and B.A.; Formal Analysis — N.O. and P.N.; Investigation — P.N. and A.M.; Resources — P.N. and B.A.; Data Curation — N.O. and P.N.; Writing — Original Draft — N.O. and P.N.; Writing — Review & Editing — N.O. and A.M.; Supervision — N.O. and P.N.

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

      JEL Classification: K31, K33, K36

      Received: 20.12.2023
      Accepted: 14.06.2024
      Published online: 18.06.2024

      How to cite this paper: Osmani, N., Nimani, P., Aqifi, B., & Maloku, A. (2024). Unemployment in the Balkan countries and policies for its reduction [Special issue]. Journal of Governance & Regulation, 13(2), 443–451. https://doi.org/10.22495/jgrv13i2siart19

      2024-06-18T08:52:24Z
       
  • Implication of smart economy governance: A perspective of smart cities in
           an emerging country
    • "Creative
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      Abstract

      The smart economy integrates smart technologies across all aspects of life, driving digital economic growth, enhancing security, and fostering competitiveness (Kumar & Dahiya, 2017). In Thailand, the concept of smart cities has been embraced, holding the potential for improved urban living (Thinphanga & Friend, 2023). This research provides a framework to guide Thailand's smart city development, aiming to enhance economic growth and residents' quality of life. Employing qualitative methods, this study engaged eight key informants through purposive sampling to understand the dynamics of Thailand's smart cities and economy. Utilizing content analysis and NVivo software, the research identified essential elements for the success of smart cities in Thailand. Critical is the development of digital infrastructure like high-speed Internet and cloud services for nationwide access. Additionally, adopting technologies such as Big Data Analytics, artificial intelligence (AI), and Internet of Things (IoT) is vital for improving services and enhancing life quality. Effective public-private partnerships (PPPs) and addressing digital gaps, skill shortages, cybersecurity threats, and regulatory challenges are also crucial. The study underscores the importance of digital education and skills for future readiness. Ultimately, Thailand's shift towards smart cities could significantly improve economic and social outcomes, provided these strategic areas are addressed.

      Keywords: Smart Economy, Smart Cities, Impact, Thailand

      Authors' individual contribution: Conceptualization — P.M. and T.K.; Methodology — P.M. and T.K.; Software — P.M. and T.K.; Validation — P.M. and T.K.; Formal Analysis — P.M. and T.K.; Investigation — P.M. and T.K.; Resources — P.M. and T.K.; Writing — Original Draft — P.M. and T.K.; Writing — Review & Editing — P.M. and T.K.; Supervision — T.K.

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

      JEL Classification: O18, O33, O38, R11

      Received: 11.12.2023
      Accepted: 13.06.2024
      Published online: 17.06.2024

      How to cite this paper: Moolngearn, P., & Kraiwanit, T. (2024). Implication of smart economy governance: A perspective of smart cities in an emerging country [Special issue]. Journal of Governance & Regulation, 13(2), 431–442. https://doi.org/10.22495/jgrv13i2siart18

      2024-06-17T09:17:43Z
       
  • Empowering non-governmental organization representatives: Enhancing
           collaborative and participatory governance through training initiatives
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      This research article explores the impact of training programs on non-governmental organization (NGO) representatives, aiming to foster collaborative and participatory governance within the non-governmental sector. NGOs increasingly influence decision-making and the implementation of social programs through training programs designed for NGO workers, contributing to the creation of a sustainable and active civil society. Encouraging partners to actively share their knowledge and expertise is key to maintaining integration, trust, and equality in decision-making. This approach ensures greater integration, trust, and equality in decision-making. Ultimately, joint management and planning will only improve over time (Calò et al., 2024). The study employed a mixed-methods approach, combining a survey conducted among 225 NGOs with secondary data analysis of education programs designed specifically for NGOs. The findings highlight the crucial role of training initiatives in equipping NGO representatives with the necessary skills, knowledge, and mindset to effectively engage in collaborative decision-making processes and promote inclusive governance practices. Through the analysis of survey responses and examination of education program outcomes, key factors contributing to successful capacity-building efforts are identified, including tailored training content, interactive learning methodologies, and ongoing support mechanisms. The research provides insights into the significance of investing in training programs for NGO representatives and offers practical recommendations for designing effective training initiatives that can enable the development of collaborative and participatory governance within the NGO sector.

      Keywords: State Bodies, NGO, Governance, Decision-Making Process, Collaboration, Learning

      Authors' individual contribution: Conceptualization — B.B. and G.U.; Methodology — B.B. and G.U.; Writing — Original Draft — B.B. and G.U.; Writing — Review & Editing — B.B. and G.U.; Investigation —B.B., G.U., and G.B.; Resources — G.U. and U.B.

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

      JEL Classification: J18, G28, G58, L38

      Received: 22.12.2023
      Accepted: 12.06.2024
      Published online: 14.06.2024

      How to cite this paper: Bokayev, B., Utepova, G., Baktiyarova, G., & Baitassova, U. (2024). Empowering non-governmental organization representatives: Enhancing collaborative and participatory governance through training initiatives [Special issue]. Journal of Governance & Regulation, 13(2), 419–430. https://doi.org/10.22495/jgrv13i2siart17

      2024-06-14T12:24:12Z
       
  • The effect of industry level characteristics and cross-country differences
           on earnings management: A European comparative perspective
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The current study examines the direction and intensity of the earnings management phenomenon in the firms of four European countries. More specifically, a multiple regression analysis (panel data) is used to investigate firm-level, industry level, and cross-country differences due to different institutional and legal frameworks with respect to corporate governance. Employing a sample of United Kingdom (UK), German, French, and Italian firms for the period 2010–2019 we estimate the intensity of the earnings management phenomenon using, as a proxy, the magnitude of discretionary accruals. Two models were adopted to analyze the data, namely the modified Jones model (Dechow et al., 1995) and the model of Dechow and Dichev (2002) (DD), as modified by McNichols (2002). Our results indicate that Italian firms exhibit a greater degree of earnings management, followed by German, French, and UK firms. In particular, code law countries manipulate their earnings to a greater extent compared to common law countries (Jiang et al., 2018; Balios et al., 2020). Additionally, our empirical findings suggest that the phenomenon is more intense in competitive industry environments (Datta et al., 2013; Markarian & Santalo, 2014). Sensitivity tests indicate that both firm-specific characteristics and the regulatory framework of each country should be taken into account when assessing the earnings management phenomenon.

      Keywords: Earnings Management, Discretionary Accruals, Code Law, Common Law, Industry, Income Smoothing

      Authors' individual contribution: Conceptualization — D.B. and T.Z.; Methodology — D.B., V.N.K., V.C.N., and T.Z.; Validation — D.B., V.N.K., and T.Z.; Formal Analysis — D.B., V.N.K., V.C.N., and T.Z.; Investigation — D.B., V.C.N., and T.Z.; Writing — Original Draft — V.C.N. and T.Z.; Supervision — D.B.

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

      JEL Classification: M16, M41, M48

      Received: 21.09.2023
      Accepted: 11.06.2024
      Published online: 13.06.2024

      How to cite this paper: Balios, D., Katsikis, V. N., Naoum, V. C., & Zaroulea, T. (2024). The effect of industry level characteristics and cross-country differences on earnings management: A European comparative perspective [Special issue]. Journal of Governance & Regulation, 13(2), 403–418. https://doi.org/10.22495/jgrv13i2siart16

      2024-06-13T11:39:27Z
       
  • Institutional quality and economic growth: Evidence from developing
           countries
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      This research aims to study the role of institutions in promoting employment and economic growth for a sample of eight Balkan countries over the period 2000–2022. Based on the cointegration technique by Pedroni (2004), fully modified ordinary least squares (FMOLS) and the dynamic ordinary least squares (DOLS) method by Kao and Chiang (2001) determined the potential long-run relationship between variables. The results suggest the existence of a positive and significant relationship between institutions and economic growth. We also found that education supported growth, and unemployment has restricted growth. The conclusion is that further improving institutional quality and education is necessary for supporting growth and employment.

      Keywords: Institutional Impact, Economic Development, Labor Institutions

      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: D02, J50, O11

      Received: 22.11.2023
      Accepted: 10.06.2024
      Published online: 12.06.2024

      How to cite this paper: Liko, E. (2024). Institutional quality and economic growth: Evidence from developing countries [Special issue]. Journal of Governance & Regulation, 13(2), 395–402. https://doi.org/10.22495/jgrv13i2siart15

      2024-06-12T09:41:53Z
       
  • Entrepreneurial growth: Bridging experiential learning, ecological systems
           analysis and governance of entrepreneurship center environments
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      This paper delves into the intricate interplay of leadership dynamics, governance, and regulatory concepts within a South African university-based entrepreneurship center (EC). Guided by Kolb's (2014) experiential learning model (Kolb, 2014), the research aims to understand how experiential learning shapes leadership and the “self” within the EC, unraveling the nuanced relationship between leadership, personal mastery, governance, and regulatory compliance. The methodology integrates experiential insights, literature reviews, and systems analysis. Key findings highlight the implicit integration of governance and regulatory concepts, ensuring ethical standards adherence. Senge's (2006) fifth discipline model emphasizes the pivotal role of a learning culture, while concepts of governance structure learning processes and ensure compliance. Personal mastery aligns with governance, emphasizing leaders' responsibility for ethical standards and continuous self-improvement. Short's (1998) insights on learning in relationships and Kaner's (2014) facilitation guide contribute to the governance of participatory decision-making processes within the EC. The methodology contributes to a conceptual framework exploring the reciprocal influence between leadership and the “self”. The study concludes by offering actionable strategies for EC leaders, emphasizing adaptability, collaboration, and a profound understanding of leadership dynamics, governance, and regulatory concepts. Its relevance lies in guiding EC leaders toward sustained growth in the ever-evolving entrepreneurship ecosystem.

      Keywords: Governance, Experiential Learning, Systems Thinking, Entrepreneurship, Leadership

      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: D83, D91, J28, L21, L31

      Received: 30.10.2023
      Accepted: 07.06.2024
      Published online: 11.06.2024

      How to cite this paper: Mpofu, R. T. (2024). Entrepreneurial growth: Bridging experiential learning, ecological systems analysis and governance of entrepreneurship center environments [Special issue]. Journal of Governance & Regulation, 13(2), 382–394. https://doi.org/10.22495/jgrv13i2siart14

      2024-06-11T08:54:07Z
       
  • The traction of moral virtues compared to risk-return fundamentals in
           fossil fuel-related investments
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The fundamental view that investors require compensation aligned to the risk attributes they discern in their investments runs at odds with efforts to curb climate risks. Moral considerations should play an important role in climate-related investments (Hulme, 2014). However, in the case of fossil fuel investments, the moral virtues in decisions are blurred. This article aims to determine the extent of moral virtues in investment decisions involving fossil fuels amidst risk-return principles. Document analysis is used from a population of 60 banks identified as increasing or reducing fossil fuel financing from the Cable News Network website. In addition to a random sampling of banks, market prices, and ten-year government bonds data are obtained from Macrotrends and Yahoo.com websites to compute the cost of equity over a seven-year period using the capital asset pricing model (CAPM). The t-test proves that the required returns for increasing fossil fuel financing remain higher than those for decreasing, while regression reflects that the moral virtue gap remains an existential threat to climate mitigation. These results demonstrate that the curbing of climate risks remains elusive unless investors place moral considerations above monetary returns. In conclusion, the need for adequate monetary compensation for investing in fossil fuels far outweighs the moral obligation.

      Keywords: Banking Groups, Climate Risks, Green Financing, Investment Returns, Moral Virtue

      Authors' individual contribution: Conceptualization — C.N.; Methodology — C.N.; Software — C.N.; Validation — H.M.v.d.P.; Formal Analysis — C.N.; Investigation — C.N.; Resources — C.N. and H.M.v.d.P.; Data Curation — C.N.; Writing — Original Draft — C.N.; Writing — Review & Editing – H.M.v.d.P.; Visualization — C.N.; Supervision — H.M.v.d.P.; Project Administration — C.N.

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

      JEL Classification: G11, G18, G21, G31

      Received: 25.10.2023
      Accepted: 06.06.2024
      Published online: 10.06.2024

      How to cite this paper: Nkwaira, C., & van der Poll, H. M. (2024). The traction of moral virtues compared to risk-return fundamentals in fossil fuel-related investments [Special issue]. Journal of Governance & Regulation, 13(2), 374–381. https://doi.org/10.22495/jgrv13i2siart13

      2024-06-10T09:30:47Z
       
  • Online and hybrid annual general meetings: Embracing the evolution
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      Annual general meetings (AGMs) are evolving rapidly due to, among other things, multiple new digital solutions (Randøy et al., 2022), the COVID-19 pandemic, and legislative/regulatory changes (Nili & Shaner, 2022; Härmand, 2021). This paper aims to analyze stakeholders' experience with AGMs in 2021 and 2022, the challenges and opportunities of online and hybrid AGMs, and stakeholders' expectations for the future format of AGMs. The research employs two questionnaire-based surveys of Icelandic-listed companies' shareholders, board members, chief executive officers (CEOs), and compliance and investor relations officers. All stakeholder groups consider hybrid and online AGMs efficient and environmentally friendly. Technical difficulties with voting processes are of no significant concern. Hybrid and online AGMs are considered to lead to broader attendance by a diverse group of shareholders, but not necessarily of small shareholders. Concerns exist regarding the adequate discussion of contentious proposals, management oversight, and fulsome interaction between attendees. The originality of the research stems from analyzing the views of four stakeholder groups, i.e., shareholders, board members, CEOs, and compliance and investor relations officers, regarding online and hybrid AGMs. This approach allows for a comprehensive understanding of the challenges and opportunities of these AGM formats.

      Keywords: Annual General Meetings, Corporate Governance, Digital Transformation, Online AGMs, Hybrid AGMs

      Authors' individual contribution: Conceptualization — T.O.S., A.A.A., and S.W.; Methodology — A.A.A.; Formal Analysis — A.A.A.; Investigation — T.O.S.; Resources — T.O.S. and S.W.; Writing — A.A.A. and S.W.; Visualization — S.W.; Project Administration — T.O.S., A.A.A., and S.W.

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

      JEL Classification: G3, K4, M140, O3

      Received: 09.11.2023
      Accepted: 05.06.2024
      Published online: 07.06.2024

      How to cite this paper: Sigurjonsson, T. O., Arnardottir, A. A., & Wendt, S. (2024). Online and hybrid annual general meetings: Embracing the evolution [Special issue]. Journal of Governance & Regulation, 13(2), 366–373. https://doi.org/10.22495/jgrv13i2siart12

      2024-06-07T07:13:49Z
       
  • Interactive model of government websites based on decision tree analysis
           and web quality 4.0
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      Government websites are important for providing citizens access to vital public information. However, many government websites are not well-designed, difficult to navigate, even out-of-date, and insufficient in providing information and interactive channels. Based on previous studies, website development often fails because it is oriented toward implementing a mandate without evaluating the website traffic and visitors. The evaluation process of e-government websites is essential for developing the performance and quality of the websites (Lee-Geiller & Lee, 2019). This study aims to evaluate the quality of Indonesian local governments. This study used a quantitative approach with a web quality 4.0 (WebQual 4.0) instrument for assessing the quality of websites. WebQual 4.0 consists of three components: usability design, information quality, and interaction services. Data were analyzed using decision tree techniques. The main finding of the study is that not all WebQual 4.0 components affect the number of visitors. The interaction service component is the most influential factor. The results suggest a website paradigm that focuses on visitors' interaction. Visitors should feel they are well-served and engaged when using a website. This approach of interactive websites can employ popular social media platforms to offer real-time visitor interaction.

      Keywords: Decision Tree, E-Government, Government Websites, Human-Computer Interaction, Interactive Model, Interactive Website, Web Quality 4.0

      Authors' individual contribution: Conceptualization — A.R. and S.R.; Methodology — A.R., P.C., and S.R.; Formal Analysis — A.R.; Writing — Original Draft — A.R. and S.R.; Writing — Review & Editing — A.R., P.C., and S.R.

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

      JEL Classification: H11, H41, H70, L82, L86

      Received: 03.08.2023
      Accepted: 04.06.2024
      Published online: 06.06.2024

      How to cite this paper: Rokhman, A., Çömez, P., & Rosyadi, S. (2024). Interactive model of government websites based on decision tree analysis and web quality 4.0 [Special issue]. Journal of Governance & Regulation, 13(2), 354–365. https://doi.org/10.22495/jgrv13i2siart11

      2024-06-06T07:02:59Z
       
  • Organizational adaptation for inclusive education in universities amidst
           war
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      In the evolving landscape of Ukrainian higher education, implementing inclusive education is both a challenge and an opportunity, intensified by the backdrop of war and post-war recovery. This study, centered on the experiences of the Berdyansk State Pedagogical University, a displaced and borderless institution, seeks to understand the unique hurdles and prospects in this journey. Engaging with 36 management representatives across four hierarchical levels, the research sheds light on effective strategies to ensure equal access for individuals with special educational needs. Key findings highlight the pivotal role of digitalization (Shuayb, 2020), the importance of adhering to European standards of inclusive education (Veidemane et al., 2021), and the transformative potential of a “university without walls” concept. These insights offer a deep understanding of the present scenario and chart a path forward, emphasizing collaborative, adaptive, and globally informed approaches. The outcomes are crucial for policymakers, educators, and the global academic community, providing a nuanced understanding of inclusive education in conflict-affected settings and underscoring the potential challenges.

      Keywords: War, Ukraine, Inclusive Education, University, Institutional Policy, Institutional Strategy

      Authors' individual contribution: Conceptualization — N.T., H.L., and Y.S.; Methodology — N.T.; Formal Analysis — A.P.; Investigation — A.P.; Data Curation — A.P. and Y.L.; Writing — Original Draft — H.M., H.L., and Y.S.; Writing — Review & Editing — A.P. and Y.S.; Visualization — Y.S.; Supervision — O.H.; Project Administration — O.H.

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

      JEL Classification: M12, M14, I23, M54, O15

      Received: 04.10.2023
      Accepted: 03.06.2024
      Published online: 05.06.2024

      How to cite this paper: Hurenko, O., Tsybuliak, N., Mytsyk, H., Popova, A., Lyndina, Y., Lopatina, H., & Suchikova, Y. (2024). Organizational adaptation for inclusive education in universities amidst war [Special issue]. Journal of Governance & Regulation, 13(2), 339–353. https://doi.org/10.22495/jgrv13i2siart10

      2024-06-05T08:46:40Z
       
  • Integrating corporate governance and forensic accounting: A sustainable
           corporate strategy against fraud
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      In the realm of financial oversight and corporate management, forensic accounting (FA) holds a critical position, serving as a central control mechanism and being widely recognized as an essential component of corporate governance. FA plays a crucial role as a central control mechanism and is acknowledged as a pivotal element of corporate governance. Consequently, it needs to continuously adapt in response to shifts in corporate governance practices, while the role of internal auditors transforms to actively support corporate sustainability. The aim of this research is to assess the effectiveness of FA and explore its relationship with corporate governance, based on the relevant literature. Thus, the main objectives of the present study are to identify the internal control attributes that influence the quality of its performance and to evaluate how corporate governance contributes to enhancing the quality of FA. To achieve the aim and the objectives of the paper, a literature analysis was carried out. The main contribution of the present paper is to refresh the existing body of knowledge on contemporary FA and its interplay with corporate governance.

      Keywords: Forensic Accounting, Corporate Governance, Internal Control, Corporate Sustainability, Quality Assessment, Internal Auditors, Literature Update

      Authors' individual contribution: Conceptualization — A.X., M.S., P.K., and P.A.; Methodology — A.X. and P.K.; Resources — A.X. and P.A.; Writing — Original Draft — A.X. and M.S.; Writing — Review & Editing — A.X., M.S., P.K., and P.A.; Visualization — A.X. and M.S.; Supervision — P.K.; Project Administration — P.K. and P.A.

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

      JEL Classification: G30, G34, M41, M42

      Received: 31.07.2023
      Accepted: 31.05.2024
      Published online: 04.06.2024

      How to cite this paper: Xanthopoulou, A., Skordoulis, M., Kalantonis, P., & Arsenos, P. (2024). Integrating corporate governance and forensic accounting: A sustainable corporate strategy against fraud [Special issue]. Journal of Governance & Regulation, 13(2), 327–338. https://doi.org/10.22495/jgrv13i2siart9

      2024-06-04T08:38:58Z
       
  • Public policy and internal security sector governance challenges: A
           situational study of some economic development indicators
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      Lately, public policy as a major political instrument has failed terribly in ensuring desirable internal security sector administration in Nigeria. This paper investigates the Nigerian public policy and internal security governance challenges using poverty, unemployment, gross domestic product (GDP), and foreign direct investment (FDI) as the baseline. The incident of poverty in Nigeria in 2020 reveals that the six geopolitical zones in Nigeria experience a severe rate of poverty, owing largely to an unprecedented rate of internal security problems (Olurounbi, 2021). The paper explores secondary research methods, secondary sources of data, and secondary data analysis (SDA) techniques. The paper reveals that Nigeria's crucial economic metrics, such as poverty, unemployment, GDP, and FDI, have been significantly aggravated by the country's poor internal security situation. As a result, residents are now experiencing significant economic hardship, negatively impacting Nigeria's current internal security governance situation. The paper concludes that Nigeria's internal security sector governance, particularly in the last ten years of democratic administration, has failed reasonably to meet Nigerians' expectations. Following the findings, the paper advocates, among others, for a genuine electoral process capable of bringing in skilled people to public policy decision-making and program execution in Nigeria.

      Keywords: Public Policy, Internal Security Sector, Governance, Economic Development

      Authors' individual contribution: Conceptualization — C.I.N., C.C.E., J.A.A., and V.J.E.; Methodology — N.S.N., C.O., and A.U.A.; Investigation — J.C.E., A.U.A., and V.J.E.; Resources — U.I.A., U.S.B., and S.-O.E.; Writing — Original Draft — C.I.N., C.C.E., and U.I.A.; Writing — Review & Editing — C.I.N., C.C.E., C.O., and J.A.A.; Visualization — N.S.N., N.N.O., and O.A.O.; Supervision — J.C.E., U.S.B., S.O.E., and O.A.O.

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

      JEL Classification: O1, O2, O4, L4, Z00

      Received: 17.07.2023
      Accepted: 30.05.2024
      Published online: 03.06.2024

      How to cite this paper: Nwagboso, C. I., Ezikeudu, C. C., Nwagboso, N. S., Agbor, U. I., Ebegbulem, J. C., Okorie, C., Adams, J. A., Akah, A. U., Bassey, U. S., Obi, N. N., Ekpo, S.-O., Onyema, O. A., & Egba, V. J. (2024). Public policy and internal security sector governance challenges: A situational study of some economic development indicators [Special issue]. Journal of Governance & Regulation, 13(2), 317–326. https://doi.org/10.22495/jgrv13i2siart8

      2024-06-03T10:58:58Z
       
  • Local development in the emerging market: Does integrated government
           internal control matter'
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      Following the significant local development issues in Indonesia (Pukuh & Widyasthika, 2017; Siburian, 2020), the study aims at examining the effect of an integrated government internal control system (GICS) on various local development measures. We employ secondary data from the government regulating bodies. The study discovers that there are still indeed significant issues in development achievement between West Indonesian and East Indonesian regions. Further empirical analysis finds that integrated GICS maturity and corruption control effectiveness support local development by improving human development, inclusive economic development and reducing poverty. Risk management, however, has not contributed significantly to local development as the effect on the development measures is not significant. The study provides practical implications to the related government bodies for the sake of improving the integrated GICS in Indonesian local government to support the local development agenda. The local governments should commit to the integrated GICS implementation to safeguard public interests specifically in local development outcomes. The role of the Financial and Development Supervisory Agency (BPKP) is also essential to improve the implementation of integrated GICS in which adequate monitoring and regulation support are required.

      Keywords: Indonesia, Local Government, Local Development, Integrated Government Internal Control System

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

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

      JEL Classification: H11, H70, H83, M40, M41

      Received: 23.07.2023
      Accepted: 29.05.2024
      Published online: 31.05.2024

      How to cite this paper: Muhtar, M., Winarna, J., & Sutaryo, S. (2024). Local development in the emerging market: Does integrated government internal control matter? [Special issue]. Journal of Governance & Regulation, 13(2), 307–316. https://doi.org/10.22495/jgrv13i2siart7

      2024-05-31T13:08:23Z
       
  • Trends of reforming the administration towards the development of modern
           administrative procedures
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      This article deals with the development of new trends in administrative procedure in the context of administrative legislation with a specific view of the Republic of Kosovo. This article analyses the status of the development of administrative procedures in a general aspect with a specific view in the Republic of Kosovo toward the further need for new trends and simplification of procedures in light of social changes and in harmony with European standards that intend the protection of the public interest and protection of rights of natural and legal persons. Data study presumes on factual approach, an examination of the current legal framework ruling the administrative system, different government, and non-government reports on the effective functioning of the administrative procedures, empirical studies of the researched issue, managed cases, and other relevant issued papers. This research article presents an important implication seeking to promote the new models of an administrative system towards an administration that advances the rights of the party in the procedure by simplifying the procedures and providing more efficient and inexpensive services for citizens. For several decades, a dynamic development of the European Administrative Space (EAS) has been recognized, which can be best characterized as the growth of administration at the European Union (EU) level, with the consequent gaining of new powers (Siuciński, 2020). This study assumes that legal provisions from the administrative field should be more dynamic, adapting to the recent changes and transformation of social relations, especially the development of information technology (IT), enabling more modern, efficient and non-bureaucratic procedures.

      Keywords: Administrative Procedure, Transparency, Principles, Efficiency, Digitalization

      Authors' individual contribution: Conceptualization — I.P. and M.B.; Methodology — I.P. and M.B.; Writing — Original Draft — I.P. and M.B.; Writing — Review & Editing — I.P. and M.B.; Supervision — I.P. and M.B.

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

      JEL Classification: H1, H7, K1, K3, K4

      Received: 27.10.2023
      Accepted: 28.05.2024
      Published online: 30.05.2024

      How to cite this paper: Pepaj, I., & Batalli, M. (2024). Trends of reforming the administration towards the development of modern administrative procedures [Special issue]. Journal of Governance & Regulation, 13(2), 297–306. https://doi.org/10.22495/jgrv13i2siart6

      2024-05-30T13:43:39Z
       
  • Animal spirits, hubris, narcissism: Behavioural determinants of merger and
           acquisition outcomes
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      This paper draws upon the animal spirit, hubris, and narcissism theories to conduct an empirical study investigating the behavioural determinants influencing mergers and acquisitions (M&A). While M&A transactions have shown a trend of value destruction for acquiring firm shareholders, they have simultaneously demonstrated value enhancement for shareholders of the acquired firms. The repercussions of this value erosion extend beyond shareholders, impacting pension funds, employees, customers, suppliers, government tax revenues, and banks within the economy. Utilising a long-event window methodology, the research examines cumulative abnormal returns (CARs) for acquirers' shareholders over a three-year post-completion period, focusing on Australian acquisitions from 1990 to 2006. The findings highlight animal spirit, hubris, and narcissism as significant behavioural determinants shaping M&A outcomes, thereby contributing to the ongoing discourse on hubris and hubris syndrome in M&A, with a suggestion that narcissism may be more prevalent than hubris. Additionally, the study identifies the joint tenure period of the Chairman and Chief Executive Officer (CEO) in the acquiring firm as a statistically significant factor contributing to acquiring firm shareholder value in M&A activities. Notably, a significantly negative correlation between CEO remuneration change and M&A outcomes is found. The paper recommends enhanced transparency for remuneration and nominations committees to address corporate governance issues raised by the study.

      Keywords: Mergers and Acquisitions, Top Management Leadership, Leadership Behaviour, Animal Spirit, Hubris, Narcissism, Organisation Performance

      Authors' individual contribution: Conceptualization — N.G.; Resources — N.G. and I.F.A.; Writing — N.G. and I.F.A.; Supervision — N.G. and I.F.A.; Funding Acquisition — N.G.

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

      JEL Classification: G1, G3, G4, L2, M1

      Received: 07.09.2023
      Accepted: 27.05.2024
      Published online: 29.05.2024

      How to cite this paper: Garrow, N., & Awolowo, I. F. (2024). Animal spirits, hubris, narcissism: Behavioural determinants of merger and acquisition outcomes [Special issue]. Journal of Governance & Regulation, 13(2), 287–296. https://doi.org/10.22495/jgrv13i2siart5

      2024-05-29T12:08:36Z
       
  • Securing the Kingdom's e-commerce frontier: Evaluation of Saudi Arabia's
           cybersecurity legal frameworks
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The rapid growth of e-commerce in Saudi Arabia has underscored significant cybersecurity challenges, undermined the integrity of online transactions, and diminished consumer trust. This study conducts a comprehensive analysis of Saudi Arabia's cybersecurity legal frameworks to assess their effectiveness in countering emerging threats to the digital commerce sector. Through a qualitative research approach, it thoroughly examines statutes, regulations, and judicial rulings to evaluate the current cybersecurity governance's scope, effectiveness, and shortcomings. The findings reveal considerable advancements in formulating cybersecurity laws in Saudi, yet underscore substantial gaps in enforcement, technological adaptability, and international cooperation. The research underlines the need for flexible legal frameworks that align with the dynamic nature of the digital marketplace, calling for enhanced regulatory mechanisms and greater international legal alignment to protect the e-commerce environment. By offering a contemporary, evidence-based review of Saudi Arabia's cybersecurity legislation, this study contributes valuable insights to the academic dialogue, with significant implications for policymakers and the global cyber law and e-commerce discourse.

      Keywords: E-commerce, Cybersecurity, Regulatory Frameworks, Intellectual Property, Vision 2030

      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: K42, L86, O38

      Received: 30.12.2023
      Accepted: 24.05.2024
      Published online: 28.05.2024

      How to cite this paper: Alhejaili, M. O. M. (2024). Securing the Kingdom's e-commerce frontier: Evaluation of Saudi Arabia's cybersecurity legal frameworks [Special issue]. Journal of Governance & Regulation, 13(2), 275–286. https://doi.org/10.22495/jgrv13i2siart4

      2024-05-28T08:35:21Z
       
  • The connection between robust legal instruments and the exceptional
           performance of the Islamic banking industry
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      This study investigates the pivotal role of robust legal instruments in driving the outstanding performance of Malaysia's Islamic banking industry. Our primary objective is to discern the correlation between the regulatory framework's legal strength and the industry's achievements. To achieve this, we embark on a comprehensive exploration of the historical progression of Islamic banking in Malaysia. We scrutinize the dynamics and milestones that have shaped the industry, with particular emphasis on its impressive growth. We then delve into the development of the regulatory frameworks, analyzing how the availability of strong legal instruments has contributed to the sector's triumph. This study finding the presence of robust legal instruments has been a catalyst for the ascension of Malaysia's Islamic banking industry. Coupled with accommodating regulations and responsive regulatory institutions, these legal foundations have underpinned the sector's remarkable success. This study underscores the critical importance of having sufficient legal instruments to nurture the Islamic banking industry. We recommend that governments aspiring to bolster Islamic banking's performance consider the provision of such legal frameworks. Consequently, this research carries significant implications for policymakers and industry stakeholders alike, offering insights into the essential ingredients for fostering a thriving Islamic banking sector.

      Keywords: Regulatory Frameworks, Islamic Banking, Legal Instruments, Exceptional Performance, Malaysia

      Authors' individual contribution: Conceptualization — A.T. and R.H.; Methodology — A.T. and R.H.; Investigation — A.T. and R.H.; Resources — A.T. and R.H.; Writing — Original Draft — A.T. and R.H.; Writing — Review & Editing — A.T. and R.H.; Supervision — A.T. and R.H.

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

      JEL Classification: K1, K2, K3

      Received: 27.06.2023
      Accepted: 22.05.2024
      Published online: 27.05.2024

      How to cite this paper: Triyanta, A., & Hassan, R. (2024). The connection between robust legal instruments and the exceptional performance of the Islamic banking industry [Special issue]. Journal of Governance & Regulation, 13(2), 267–274. https://doi.org/10.22495/jgrv13i2siart3

      2024-05-27T11:42:25Z
       
  • Corruption and foreign direct investment: Bayesian analysis approach
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The paper is aimed to analyze the impact of corruption control on foreign direct investment (FDI). The dataset is collected from ten Association of Southeast Asian Nations (ASEAN) countries (including Brunei Darussalam, Indonesia, Cambodia, Lao PDR, Myanmar, Malaysia, Philippines, Singapore, Thailand, and Vietnam) during the period 2002–2021. The paper utilizes the Bayesian method for estimation in the research model, highlighting its superiority in estimating regression results as a probability distribution and enhancing the stability of estimation outcomes (McNeish, 2016). Moreover, to test the robustness of the estimation results, the paper also conducts the estimation using traditional methods, including the generalized method of moments (GMM) proposed by Arellano and Bond (1991). By employing various estimation methods, the research results ensure robustness, increase reliability, and offer a more detailed explanation of the findings. Both the Bayesian and other traditional estimation methods reveal a positive impact of corruption control on FDI in the ASEAN countries. Particularly, the Bayesian estimation results show a 93.7 percent probability of this impact, which is an interesting finding compared to previous studies. Additionally, FDI is positively influenced by economic growth and trade openness while negatively affected by unemployment. The findings are significant for these countries, especially in enhancing their abilities to attract FDI.

      Keywords: ASEAN, Bayesian, Corruption, Foreign Direct Investment

      Authors' individual contribution: Conceptualization — N.T.B. and
      T.-T.T.D.; Methodology — L.T.D. and N.T.B.; Software — N.T.B.; Formal Analysis — L.T.D., N.T.B., and T.-T.T.D.; Investigation — N.T.B. and T.-T.T.D.; Data Curation — N.T.B. and T.-T.T.D.; Writing — Original Draft — L.T.D., N.T.B., and T.-T.T.D.; Writing — Review & Editing — L.T.D., N.T.B., and T.-T.T.D.

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

      JEL Classification: F36, G15, G18, G28

      Received: 25.10.2023
      Accepted: 21.05.2024
      Published online: 23.05.2024

      How to cite this paper: Dao, L. T., Bui, N. T., & Doan, T.-T. T. (2024). Corruption and foreign direct investment: Bayesian analysis approach [Special issue]. Journal of Governance & Regulation, 13(2), 255–266. https://doi.org/10.22495/jgrv13i2siart2

      2024-05-23T09:14:14Z
       
  • Public governance in the era of pandemic: The developing market research
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      Indonesia's COVID-19 Resilient Village (Kampung Tangguh) initiative has significantly impacted crucial institutions and highlighted the vulnerability of village-level social systems during the pandemic. This study focuses on the program's institutional dynamics, particularly in Malang, East Java, to understand its role in empowering social capital and resources. Unlike previous works that mainly explore government responses, this qualitative research relies on participatory social science methods and purposively selected informants. The findings reveal that the Kampung Tangguh program transformed local leaders into key actors, shifting from apathy to proactive engagement in pandemic control. This community-driven resilience system led by neighborhood heads and villagers marks a crucial turning point. It establishes a proactive model adaptable to various crises as a foundation for researchers and policymakers, fostering innovation and driving social system transformation. This study underscores village-level democratization and knowledge dissemination's pivotal role in effective governance and institutional evolution.

      Keywords: Village Communities, Pandemic, COVID-19, Kampung Tangguh Program

      Authors' individual contribution: Conceptualization — A.Z.F.R.; Investigation — M.B.P.; Resources — A.Z.F.R. and A.R.S.; Writing — A.Z.F.R., M.B.P., and A.R.S.

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

      JEL Classification: O20, O21, R52, R58

      Received: 10.05.2023
      Accepted: 20.05.2024
      Published online: 22.05.2024

      How to cite this paper: Rohman, A. Z. F., Prantama, M. B., & Sopyan, A. R. (2024). Public governance in the era of pandemic: The developing market research [Special issue]. Journal of Governance & Regulation, 13(2), 244–254. https://doi.org/10.22495/jgrv13i2siart1

      2024-05-22T12:54:49Z
       
  • Editorial: Participatory corporate governance for sustainability and
           accountability
    • "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 May 21, 2024.

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

      How to cite: Alsaid, L. A. (2024). Editorial: Participatory corporate governance for sustainability and accountability. Journal of Governance & Regulation, 13(2), 4–5. https://doi.org/10.22495/jgrv13i2editorial

      2024-05-21T08:57:44Z
       
  • The impact of social capital on the public general education governance
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      Scientists from a variety of disciplines have recognized social capital as a valuable resource in Vietnam since the early 2000s; nevertheless, this kind of capital can only exist when it is observable and the benefits of social capital can be quantified (Uphoff & Wijayaratna, 2000). As seen by the poor engagement in social activities and social media networks, social capital is actually very restricted in Vietnam's state general education schools. This makes it difficult to raise the standard of instruction and learning objectives. This study aims to investigate the influence of social capital on the advancement of public general education. By analyzing the structural equation model (SEM), the study's survey method uses a questionnaire with a scale of 488 teachers and employees in public general education. As shown in the result, social capital impacts not only directly and positively but also indirectly on the development of public general education through intermediary factors such as in-school knowledge transfer, school brand, and training service quality. The study makes several recommendations to increase social capital in order to set the groundwork for the growth of public general education in Vietnamese schools, based on these findings.

      Keywords: Social Capital, Knowledge Transfer, School Brand, Training Service Quality, Public General Education, Development

      Authors' individual contribution: Conceptualization — H.L.N., T.D.D., and T.H.N.; Methodology — H.L.N. and T.M.P.N.; Resources — T.H.N. and V.H.B.; Writing — Original Draft — T.D.D. and T.M.P.N.; Writing — Review & Editing — H.L.N., T.D.D., and T.M.P.N.; Visualization — V.H.B. and B.T.N.; Funding Acquisition — V.H.B. and B.T.N.

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

      JEL Classification: M00, M10, L26, A10, F63

      Received: 21.08.2023
      Accepted: 16.05.2024
      Published online: 20.05.2024

      How to cite this paper: Nguyen, H. L., Duong, T. D., Nguyen, T. M. P., Nguyen, T. H., Bui, V. H., & Nguyen, B. T. (2024). The impact of social capital on the public general education governance. Journal of Governance & Regulation, 13(2), 223–232. https://doi.org/10.22495/jgrv13i2art22

      2024-05-20T09:42:21Z
       
  • Examining work stress and burnout in public administration: The case of
           local government employees
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      Work stress and burnout are critical factors affecting employees' well-being and performance (Meeusen et al., 2023). This qualitative study delves into the pervasive issue of work stress and burnout among municipal employees within the Municipality of Xanthi, Greece. By conducting structured interviews with 42 employees, the study aims to comprehend their experiences, perceptions, and responses to work-related stressors. Key findings highlight significant concerns among public employees regarding administrative decisions, staffing limitations, and ensuing work pressures, leading to heightened stress levels and, in some instances, burnout symptoms. Notably, 19 percent of employees with limited tenure expressed contentment with their work conditions. Moreover, the unprecedented challenges posed by the COVID-19 pandemic amplified work stress through increased workloads and novel professional demands (Montazer et al., 2024). Employee-generated recommendations primarily revolve around augmenting staff recruitment and continuous training initiatives. Additionally, the presence of counsellors or psychologists emerged as a pivotal support system for the workforce. These findings underscore the urgent need for proactive measures and support interventions within the Greek public administration, particularly in primary local government organizations like municipal bodies. This study's insights serve as a valuable resource for cultivating healthier work environments and fostering employee well-being.

      Keywords: Public Administration, Work Stress, Burnout, Qualitative Study, Local Government, Municipality of Xanthi

      Authors' individual contribution: Conceptualization — V.T. and P.I.X.; Methodology — V.T., P.I.X., and A.G.S.; Software — V.T. and P.I.X.; Validation — C.D.P., M.C., and S.K.; Formal Analysis — V.T.; Investigation — V.T.; Resources — P.I.X. and A.G.S.; Data Curation — V.T. and C.D.P.; Writing — Original Draft — V.T. and P.I.X.; Writing — Review & Editing — P.I.X. and A.G.S.; Visualization — M.C. and S.K.; Supervision — P.I.X.; Project Administration — P.I.X.

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

      JEL Classification: H83, J28, J63, J81

      Received: 01.01.2024
      Accepted: 03.05.2024
      Published online: 08.05.2024

      How to cite this paper: Tsipouri, V., Xanthopoulou, P. I., Sahinidis, A. G., Patitsa, C. D., Chalaris, M., & Kalogiannidis, S. (2024). Examining work stress and burnout in public administration: The case of local government employees. Journal of Governance & Regulation, 13(2), 210–222. https://doi.org/10.22495/jgrv13i2art21

      2024-05-08T12:41:39Z
       
  • Actuarial accounting and insurance industries performance: The context of
           the emerging market
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The purpose of this research is to provide an accounting perspective on the value of actuarial science in the insurance industry, investigate how it contributes as an actuarial accountant to the Jordanian insurance industry, and what kind of value it may bring to the table, in particular. The regional economy is plagued by erratic swings in the economy, which put a pall on financial security and its impact on productivity (Vyas, 2019). Despite the small number of actuaries working in the insurance industry in Jordan. In order to achieve the aim of the study, the author used a questionnaire surveying a cross-section of professionals from the fields of insurance practice, academia, actuarial science, financial analysis, and auditing. The sample of this study is 291. The study found that these professionals are vital to the industry, as the risks associated with economic volatility and financial crises necessitate the use of actuarial accounting techniques, and as such, they play a crucial role in bolstering the quality of financial reporting. According to the findings, actuarial accountants and actuarial science play a crucial role in the banking industry by helping institutions weather economic storms and financial crises through the use of actuarial methodologies.

      Keywords: Insurance Sector, Financial Reports, Actuarial Accounting, Actuarial Science, 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: G2, M2, M4

      Received: 14.10.2023
      Accepted: 30.04.2024
      Published online: 02.05.2024

      How to cite this paper: Shahwan, Y. (2024). Actuarial accounting and insurance industries performance: The context of the emerging market. Journal of Governance & Regulation, 13(2), 202–209. https://doi.org/10.22495/jgrv13i2art20

      2024-05-02T09:04:17Z
       
  • A tool for measuring integrated reporting quality: The case of listed
           companies in the emerging market
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      This study aims to develop an innovative weighted alternative polychotomous accountability index (PAI) tailored to assess both the extent and quality of information disclosure within integrated annual reports (IARs) of South African listed companies. The study utilised a qualitative approach based on the Delphi technique. The study culminates in a weighted PAI comprising eight comprehensive categories housing 44 distinct constructs. The resulting PAI achieves a cumulative weight capacity of 100% and a total scoring potential of 152 points. The developed PAI addresses limitations in current measurement tools, providing an advanced means to evaluate IAR disclosure quality and extent. The study contributes to the literature by constructing a valid, contextually relevant PAI that aligns with integrated reporting (IR) requisites and the socio-political context of a specific country. This study's findings hold the potential to significantly impact integrated reporting practices and enhance corporate transparency within the context of emerging markets and beyond.

      Keywords: Dichotomous Accountability Index, Delphi Technique, Integrated Reporting, Integrated Annual Reports, Polychotomous Accountability Index

      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: M10, M41, M48, M49, M55, M410

      Received: 17.09.2023
      Accepted: 29.04.2024
      Published online: 01.05.2024

      How to cite this paper: Chikutuma, C. N. (2024). A tool for measuring integrated reporting quality: The case of listed companies in the emerging market. Journal of Governance & Regulation, 13(2), 192–201. https://doi.org/10.22495/jgrv13i2art19

      2024-05-01T12:19:32Z
       
  • Gender diversity on the board and investment effectiveness in the emerging
           market
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The implementation of new gender diversity requirements has sparked significant research interest in assessing how such a commitment influences value-creation indicators (Chebri & Bahoussa, 2020). This study aims to examine the impact of gender diversity in the board of directors on the investment efficiency of listed firms in Morocco, using panel data from a sample of 36 non-financial firms listed on the Casablanca Stock Exchange for the period 2014 to 2019. To accurately identify the board dimensions that determine firms' investment efficiency, we conduct a fixed-effects regression analysis, in which a firm's investment efficiency variables are regressed, directly and indirectly (i.e., the moderating effect of board diversity), on board attributes. This study draws on the complementary propositions of agency theory and social feminist theory. The empirical results of this study indicate that diversity not only has a positive and significant direct impact on the level of investment effectiveness but also moderates the relationship between board characteristics and investment effectiveness. This study provides empirical evidence of the moderating role of gender diversity on the effect of board structure and investment effectiveness.

      Keywords: Investment, Gender Diversity, Governance, Board of Directors, Duality

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

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

      JEL Classification: G1, G18, G3, M1, M14

      Received: 03.10.2023
      Accepted: 26.04.2024
      Published online: 30.04.2024

      How to cite this paper: Daidai, F., & Alami, S. (2024). Gender diversity on the board and investment effectiveness in the emerging market. Journal of Governance & Regulation, 13(2), 181–191. https://doi.org/10.22495/jgrv13i2art18

      2024-04-30T13:27:13Z
       
  • Privatization of public enterprises in the emerging market: Problems and
           prospects
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      State-owned enterprises (SOEs) are known to provide service delivery to people because of their lack of profit motives. However, politicians (elected officials) who engage in corrupt practices often use SOEs as cash cows. Simultaneously, SOEs' success drives national economic development and aid in the fight against poverty. The aim of this study was to investigate whether privatization of SOEs can turn around the losses they make and lead to viability. This study employed a desktop approach in which reports, financial statements, and various documents on numerous SOEs were reviewed. The time span used for the reviewed documents was 20 years (2002–2022). The findings of this study indicate that many SOEs in South Africa have incurred insurmountable losses due to corruption and poor fiscal management. Thus, privatization of such entities may look noble, yet it is a short-term fix to the problem.

      Keywords: Crowding Out, Efficiency, Nationalisation, Privatisation, State Owned Enterprises

      Authors' individual contribution: Conceptualisation — P.C. and E.S.S.; Methodology — P.C. and E.S.S.; Formal Analysis — P.C.; Investigation — E.S.S.; Writing — Original Draft — P.C. and E.S.S.; Writing — Review & Editing — P.C., E.S.S., and I.U.; Supervision — I.U.; Project Administration — I.U.

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

      JEL Classification: H73, H83, H82, J45, O12

      Received: 17.03.2023
      Accepted: 25.04.2024
      Published online: 29.04.2024

      How to cite this paper: Cheteni, P., Shindika, E. S., & Umejesi, I. (2024). Privatization of public enterprises in the emerging market: Problems and prospects. Journal of Governance & Regulation, 13(2), 172–180. https://doi.org/10.22495/jgrv13i2art17

      2024-04-29T08:07:55Z
       
  • Competitive capabilities and firm performance: A study among small rural
           firms
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      Manufacturing micro, small, and medium enterprises (MSMEs) in a developing country plays a distinctive and decisive role in its economic development. Despite its importance, various challenges confront these units, dragging them to the point of closure. Consequent to such sudden shocks to the economy, and resource deficiencies, these units become unable to develop competencies crucial to their sustenance. The present research purports to study whether MSMEs in the manufacturing sector employ capabilities of innovation, human resource practices (HRP), information and communication technology (ICT), and intellectual property rights (IPR) that are vital to improving their performance. The study employs the theory of resource-based view (RBV) to identify the specific capabilities that make manufacturing MSMEs competitive, as reflected through better firm performance. A regression analysis is performed among 90 manufacturing MSMEs to determine the relationship between capabilities and firm performance (combined and individual). The capabilities that significantly and positively contribute to firm performance are found to be competitive, and vice versa. The findings unambiguously reveal that MSMEs in rural areas are at a stage of developing competencies; albeit the pace being relatively slow.

      Keywords: Resource-Based View, Manufacturing MSMEs, Capabilities, Competitive

      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: L21, L25, L26

      Received: 09.08.2023
      Accepted: 24.04.2024
      Published online: 26.04.2024

      How to cite this paper: Vinayachandran, V. (2024). Competitive capabilities and firm performance: A study among small rural firms. Journal of Governance & Regulation, 13(2), 162–171. https://doi.org/10.22495/jgrv13i2art16

      2024-04-26T08:05:31Z
       
  • Russia's invasion of Ukraine and its impact on the economic performance of
           G20 countries
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      This paper aims to examine the impact of the Russia-Ukraine war on the performance of the Group of Twenty (G20) countries by analyzing the economic performance of these countries before and after the war, analyzing and measuring empirically from 2000 to 2022. The Russian invasion of Ukraine has prompted many researchers to study the impact of the conflict on the economic performance of the world's most prosperous countries. Furthermore, the influence of global commerce has demonstrated that the Russia-Ukraine war has impacted the global trade imbalance, harming the economic performance of the 27 European Union (EU) nations (Misini & Tosuni, 2023b). The methodology is based on a comparison of each of the G20 country's economic performance indexes (EPIs) to the countries of the EU. These countries' performance will be evaluated using the most essential macroeconomic indicators: unemployment, inflation, fiscal deficit, and yearly economic growth. In addition, this paper will examine the influence of the Russia-Ukraine war on the economic performance of these countries (G20). The analysis employed dot plot analysis, descriptive statistical analysis, and regression to conduct a more scientific investigation. The findings reveal that nations with high inflation as a result of the Russia-Ukraine war had lower economic performance, while those with low inflation had higher economic performance. Countries with lower inflation have produced greater economic results. Turkey and Argentina have experienced significant swings in economic performance. Economic growth and the budget deficit have had a favorable impact on the G20 countries' economic performance.

      Keywords: Economic Performance Index, Inflation, Unemployment, Public Debt, Economic Growth

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

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

      JEL Classification: E24, E29, E31, H60, P47

      Received: 13.12.2023
      Accepted: 23.04.2024
      Published online: 25.04.2024

      How to cite this paper: Shabani, L., Misini, S., Mustafa, A., Ismajli, A., & Ismajli, A. (2024). Russia's invasion of Ukraine and its impact on the economic performance of G20 countries. Journal of Governance & Regulation, 13(2), 154–161. https://doi.org/10.22495/jgrv13i2art15

      2024-04-25T08:35:03Z
       
  • Factors influencing implementation of the integrated financial management
           information system for managing public finances
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      With increasing technological advancement in contemporary society, various systems have been developed to improve public fund management. Several public entities have adopted the well-liked integrated financial management information system (IFMIS) for managing their finances. The current study aimed to identify factors influencing the implementation of the IFMIS. This case study on the County Government of Migori involved 255 employees. Principal component analysis (PCA) was used to identify the most significant factors that influence the implementation of IFMIS. The factors were categorized into technological, organisational, environmental, cultural, and ethical. From the analysis, training and dependency on experts were significant technological factors. For the organizational factors, the three key influencers were observed to be creating an organizational culture that dictates how the county operates, developing an organizational culture that supports technology and use in various departments, and having the ability to use it in record management, such as classification and storage. For environmental factors, the most crucial influencer was the efficiency of IFMIS systems. On cultural and ethical factors, this study revealed that importance is the ability to distinguish motivation from corruption, support openness and accountability in implementation, and put in place a formal organizational evaluation of culture. By understanding the importance of these factors, policymakers and administrators in the Migori County Government can prioritize resources and efforts towards addressing these key areas.

      Keywords: IFMIS Implementation, Principal Component Analysis, Public Funds

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

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

      JEL Classification: G3, G28

      Received: 05.06.2023
      Accepted: 22.04.2024
      Published online: 24.04.2024

      How to cite this paper: Tefera, O., & Otieno, J. O. (2024). Factors influencing implementation of the integrated financial management information system for managing public finances. Journal of Governance & Regulation, 13(2), 145–153. https://doi.org/10.22495/jgrv13i2art14

      2024-04-24T07:16:10Z
       
  • The financial stability of the banking sector: An empirical investigation
           using the CAMEL rating approach
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The study compares the CAMEL ratings of five central Indian commercial banks over 12 years (2011–2022). The findings indicate that most banks received a rating of 1, with an average capital adequacy ratio (CAR) of 15.18 percent. Maintaining low non-performing loan (NPL) rates is a priority for Indian banks, as reflected in the average of 1.98 percent with a grade of 2. The research concludes that these banks are well-managed, showcasing an average operational efficiency/income ratio of 40 percent (rated 3), signifying good managerial efficiency. This suggests banks can meet short-term customer commitments and withdrawals adequately. Notably, State Bank of India (SBI) and Punjab National Bank (PNB) received a grade of 2, while Axis Bank, Industrial Credit and Investment Corporation of India (ICICI) Bank, and Housing Development Finance Corporation (HDFC) Bank scored a rating of 1. The study indicates that private sector banks outperform their public sector counterparts across all CAMEL model parameters, showcasing more robust performance metrics. The paper advises Indian banks to invest in the long run, watch their risks, and aim for steady growth and profit. The study emphasises the importance of capital, assets, and management for a healthy banking system, suggesting improvements in earnings and liquidity management for overall stability and growth.

      Keywords: Capital Adequacy, Asset Quality, Return on Assets, Liquidity, Composite CAMEL Rating

      Authors' individual contribution: Conceptualisation — F.A.; Methodology — F.A.; Resources — B.I.; Writing — Original Draft — F.A.; Writing — Review & Editing — F.A.; Supervision — M.S.A.; Funding Acquisition — L.S.

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

      JEL Classification: G21, G24, G28

      Received: 01.09.2023
      Accepted: 19.04.2024
      Published online: 23.04.2024

      How to cite this paper: Sami, L., Anjum, F., Ansari, M. S., & Iffat, B. (2024). The financial stability of the banking sector: An empirical investigation using the CAMEL rating approach. Journal of Governance & Regulation, 13(2), 135–144. https://doi.org/10.22495/jgrv13i2art13

      2024-04-23T09:16:46Z
       
  • The role and importance of civil initiatives in local governance
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      Local governance is closely related to democracy and provides a central position to the participation of citizens in decision-making, where the perspectives of different authors such as political scientist Robert Dahl emphasized that democracy must offer equal and proper opportunities for citizens' participation in decision-making (Forrester & Sunar, 2011). The purpose of this paper is to create a fair overview of the real condition of citizens' involvement in local government decision-making processes, by highlighting the necessity to adapt local government to the real needs of citizens, which facilitates their lives within the municipalities. The review of literature and development of qualitative research was the methodology applied within this study. During the development of this study, surveys were also conducted with citizens and other institutional stakeholders with a key role in local governance. The findings of this paper indicated that municipal bodies have made minimal efforts to inform citizens about their opportunities and raise awareness regarding the importance of activism in decision-making, as substantiated by the questionnaire outcomes. On this occasion, it was also observed that there is a low level of citizens' inclination to participate in public gatherings aimed at influencing municipal governance activities.

      Keywords: Public Consultation, Citizens, Municipalities, Governance, Decision Making, Democracy

      Authors' individual contribution: Conceptualization — I.B.; Methodology — I.B. and T.B.; Validation — I.B.; Formal Analysis — I.B. and T.B.; Writing — Original Draft — I.B.; Writing — Review & Editing — I.B.; Visualization — I.B. and T.B.

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

      JEL Classification: K1, K4, K10, K40

      Received: 12.09.2023
      Accepted: 18.04.2024
      Published online: 22.04.2024

      How to cite this paper: Bajrami, I., & Bajrami, T. (2024). The role and importance of civil initiatives in local governance. Journal of Governance & Regulation, 13(2), 126–134. https://doi.org/10.22495/jgrv13i2art12

      2024-04-22T11:35:07Z
       
  • Human resource management practices and its impact on organizational
           performance in development banks: The emerging market case
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The study examined the influence of human resource management (HRM) practices on the performance of development banks (DBs) in Nepal. It applied a descriptive and causal-comparative approach to establish a relationship between independent and dependent variables. It covered ten out of Nepal's 17 ‘B' class banks, examining 390 individuals from February to June 2023. Using regression analysis, the results highlighted that performance appraisal (PA) had the greatest impact (β = 0.347, p = 0.50), followed by compensation practices (CPs) (β = 0.279, p = 0.50), recruitment and selection (RS) (β = 0.145, p = 0.50), and training and development (TD) (β = 0.131, p = 0.50) on the organizational performance (OP) of DBs in Nepal. The study reinforces the findings of Osemeke (2012) which emphasized the positive correlation between RS methods and OP and advocates the crucial role of TD in shaping various dimensions of organizational success. The study contributes to social exchange theory (SET) and confirms Shore et al. (1995) results that HRM practices as investments affect employee self-perception in organizations. The study's findings offer practical suggestions for banks aiming to improve performance by proactively adapting HRM practices to meet changing challenges and opportunities.

      Keywords: Compensation Practices, Performance Appraisal, Recruitment and Selection, Training and Development

      Authors' individual contribution: Conceptualization — B.G. and S.B.M.; Methodology — R.K.D. and R.G.; Software — R.K.D. and S.B.M.; Validation — B.G., R.K.D., and S.B.M.; Formal Analysis — B.G. and S.B.M.; Investigation — R.K.D. and S.B.M.; Resources — S.B.M. and R.G.; Data Curation — R.K.D. and S.B.M.; Writing — Original Draft — B.G., S.B.M., and R.G.; Writing — Review & Editing — R.K.D. and R.G.; Visualization — B.G., R.K.D., and S.B.M.; Supervision — B.G., R.K.D., and S.B.M.; Project Administration — B.G. and R.K.D.

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

      JEL Classification: L25, M12, O15

      Received: 29.09.2023
      Accepted: 17.04.2024
      Published online: 19.04.2024

      How to cite this paper: Ghimire, B., Dahal, R. K., Budathoki Magar, S., & Gurung, R. (2024). Human resource management practices and its impact on organizational performance in development banks: The emerging market case. Journal of Governance & Regulation, 13(2), 116–125. https://doi.org/10.22495/jgrv13i2art11

      2024-04-19T13:11:54Z
       
  • Firm life cycle, profitability and the impact of financial crisis:
           Evidence from developing market
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      This study investigates the effect of the 2007–2009 financial crisis on the profitability of companies in selected companies in Jordan using a cash flow-based, firm life cycle approach which Dickinson (2008) developed. The study includes five stages of a company including introduction, growth, maturity, shake-out, and decline stages. Annual data is used for Jordanian firms for the time period 2000–2018. Following the Dickinson (2008) model, panel data regression has been used as the anchor technique for analysis. The results of the study indicate that the return on net worth significantly explains the profitability of firms and that the fixed effects in panel regressions are more appropriate for such a study. The maximum impact of the financial crisis on the profitability of firms was found for the firms in the introduction stage. The estimated model for growth stage firms can be used to forecast the profitability of firms during a financial crisis and hence will help companies in financial planning and performance management.

      Keywords: Firm Life Cycle, Panel Data, Ratios, Firm Performance, Profitability, Financial Crisis

      Authors' individual contribution: Conceptualisation — S.J.M.; Methodology — N.A.A.; Investigation — S.J.M.; Resources — A.A.A.; Data Curation — N.A.A.J.; Writing — Original Draft — S.J.M. and N.A.A.; Writing — Review & Editing — S.J.M. and N.A.A.; Supervision — S.J.M.

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

      JEL Classification: G0, G2, G3

      Received: 19.08.2023
      Accepted: 16.04.2024
      Published online: 18.04.2024

      How to cite this paper: Mohammad, S. J., Aldaas, A. A., Al Jundi, N. A., & Alkhateeb, N. A. (2024). Firm life cycle, profitability and the impact of financial crisis: Evidence from developing market. Journal of Governance & Regulation, 13(2), 108–115. https://doi.org/10.22495/jgrv13i2art10

      2024-04-18T08:43:36Z
       
  • Creative accounting in times of turbulence: Empirical evidence in Greek
           SMEs governance
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      This paper's objective is to critically assess issues related to creative accounting in times of turbulence, presenting the findings of an empirical study carried out in Greek small and medium-sized enterprises (SMEs). Greece was chosen because the financial crisis that the country has been facing since 2010 has created a highly prolonged uncertainty in its businesses and according to Goel (2017), this leads to an extension of the application of creative accounting. As this is Greece's first empirical study published surveying professional corporate accountants and auditors, its findings are particularly noteworthy for regulation and corporate governance policy implications. As in Mindak et al. (2016), earnings manipulation is considered the most popular method of creative accounting in Greece after the Memorandums. The majority of this study's findings are in line with those of Bhasin (2016) and Karim et al. (2016). Almost half of the respondents considered creative accounting to be legitimate, as Bhasin (2016), leading to the conclusion that strengthening the institutional/corporate governance framework is a key method of limiting the use of creative accounting.

      Keywords: Creative Accounting, SMEs, Financial Reporting, Earnings Management, Corporate Governance, Greece

      Authors' individual contribution: Conceptualization — K.T., P.B., and M.-G.P.; Methodology — K.T., P.B., and M.-G.P.; Data Curation — M. G.P.; Writing — Original Draft — K.T., P.B., and M.-G.P.; Writing — Review & Editing — K.T., P.B., and M.-G.P.; Visualization — K.T., P.B., and M.-G.P..; Supervision — K.T. and P.B.

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

      JEL Classification: M41, G38, G32

      Received: 04.05.2023
      Accepted: 15.04.2024
      Published online: 17.04.2024

      How to cite this paper: Toudas, K., Boufounou, P., & Parenaki, M.-G. (2024). Creative accounting in times of turbulence: Empirical evidence in Greek SMEs governance. Journal of Governance & Regulation, 13(2), 96–107. https://doi.org/10.22495/jgrv13i2art9

      2024-04-17T10:25:38Z
       
  • The sufficiency of household incomes: Estimation and economic
           interpretation for their financial stability
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The household financial activities prove that their incomes determine the levels of livelihood (Skrynkovsky & Leskiv, 2015; Israr et al., 2014) and stability (Mohr & Wagner, 2013). In this paper, we will take the view that the financial stability of households is the ability to ensure an appropriate level of livelihood by the available level of income in the face of influence factors. As a result, the study on the sufficiency of household incomes is relevant when estimating their financial stability. The purpose of the research is to develop indicators for estimating the sufficiency of household incomes and economic interpretation obtained results for their financial stability. According to the purpose, indicators for estimating the sufficiency of household incomes are proposed and made economic interpretations ones. In the work process analysis is used as a general scientific method of theoretical knowledge, and comparison and measurement are used as data research methods. The analysis was conducted to conclude the different trends of income sufficiency by Ukrainian households at the macroeconomic and microeconomic levels in 2001–2020. Moreover, future research needs to use the elements of correlation regression analysis to rank the studied factors by the power of influence.

      Keywords: Finances, Stability, Household, Incomes, Macroeconomic, Microeconomic, Sufficiency, Indicators

      Authors' individual contribution: Conceptualization — O.K. and A.S.; Methodology — O.K. and A.S.; Software — A.S.; Validation — O.K., S.K., I.S., and A.S.; Formal Analysis — A.S.; Investigation — S.K. and I.S.; Data Curation — S.K. and I.S.; Writing — Original Draft — O.K. and A.S.; Writing — Review & Editing — O.K., S.K., I.S., and A.S.; Visualization — S.K., I.S., and A.S.; Supervision — O.K. and A.S.; Project Administration — A.S.

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

      JEL Classification: D14, D19, G51, G53

      Received: 03.09.2023
      Accepted: 12.04.2024
      Published online: 16.04.2024

      How to cite this paper: Kyrylenko, O., Koval, S., Sydor, I., & Sydorchuk, A. (2024). The sufficiency of household incomes: Estimation and economic interpretation for their financial stability. Journal of Governance & Regulation, 13(2), 86–95. https://doi.org/10.22495/jgrv13i2art8

      2024-04-16T07:26:22Z
       
  • Driving sustainable financial management: An investigation of factors
           influencing the use of digitals technologies by MSMEs
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      Following the rapid growth of technology, accounting information systems are also expanding. It is now possible to digitally generate financial reports or records that are part of an accounting information system using specific software. A financial accounting application can fully, rapidly, accurately, and comprehensively automate bookkeeping (Putri, Amrulloh, et al., 2023; Mahardhika, 2019). This study examines the impact of usefulness, ease of use, and compliance on the actual use of financial apps using a methodology based on the Technology Acceptance Model (TAM). Google Forms were utilized to conduct an online survey for data collection. The research sample consisted of 123 participants. The respondents are Indonesian micro, small, and medium-sized companies (MSMEs). This investigation employs a structural equation model (SEM). The study's findings indicate that ease of use and compliance have a favourable and significant impact on the actual use of financial applications. In the meantime, usefulness benefits finances but is irrelevant to the application's real use. Thus, it is possible to conclude that these findings help elevate the significance of MSME perspectives about using financial reports apps. In terms of applying financial reports applications, the research concludes with findings that can significantly influence and pave the path to a sustainable future.

      Keywords: Actual Usage, Financial Report, Micro, Small, and Medium-Sized Companies (MSMEs), Technology Acceptance Model (TAM)

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

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

      JEL Classification: M1, M13, M15

      Received: 25.05.2023
      Accepted: 11.04.2024
      Published online: 15.04.2024

      How to cite this paper: Ramayanti, R., Rachmawati, N. A., Setiawan, R., & Azhar, Z. (2024). Driving sustainable financial management: An investigation of factors influencing the use of digitals technologies by MSMEs. Journal of Governance & Regulation, 13(2), 76–85. https://doi.org/10.22495/jgrv13i2art7

      2024-04-15T11:36:38Z
       
  • Self-sufficiency communities for economic development: Urban perspectives
           in an emerging country
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      In the context of rapid urbanization and economic growth in emerging countries, the concept of self-sufficiency communities has gained prominence as an innovative approach to urban economic development (Bolay, 2006; Losch et al., 2012; Kong et al., 2022). This study focuses on self-sufficiency communities in Thailand, exploring their potential, challenges, and impact on economic development. Using qualitative research techniques, document analysis, and interviews with stakeholders, including academics and experts, the study revealed that self-sufficiency communities play a multifaceted role as job creators, income generators, and economic catalysts. Technology adoption and community empowerment were identified as critical drivers of success. Despite challenges such as limited land access and regulatory hurdles, there is a commitment to exploring collaborative opportunities and policy support to promote urban self-sufficiency as a sustainable and economically viable model. These findings have significant implications for policymakers and researchers, offering insights into the potential and challenges of self-sufficiency communities within the context of urban economic development. This research contributes to the broader discourse on sustainable urbanization and inclusive growth in emerging economies.

      Keywords: Self-sufficiency Communities, Urbanization, Economic Development, Community Empowerment, Sustainability

      Authors' individual contribution: Conceptualization — S.L. and R.S.; Methodology — S.L. and R.S.; Software — S.L. and R.S.; Validation — S.L. and R.S.; Formal Analysis — S.L. and R.S.; Investigation — S.L. and R.S.; Resources — S.L. and R.S.; Writing — Original Draft — S.L. and R.S.; Writing — Review & Editing — S.L. and R.S.; Supervision — S.L. and R.S.

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

      JEL Classification: O12, O18, Q01, R23

      Received: 03.10.2023
      Accepted: 09.04.2024
      Published online: 11.04.2024

      How to cite this paper: Lertthanakulvat, S., & Sonsuphap, R. (2024). Self-sufficiency communities for economic development: Urban perspectives in an emerging country. Journal of Governance & Regulation, 13(2), 68–75. https://doi.org/10.22495/jgrv13i2art6

      2024-04-11T11:59:05Z
       
 
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Edinburgh, EH14 4AS, UK
Email: journaltocs@hw.ac.uk
Tel: +00 44 (0)131 4513762
 


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