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American Economic Journal : Macroeconomics     Full-text available via subscription   (Followers: 120)
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Journal of Governance and Regulation
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ISSN (Print) 2220-9352 - ISSN (Online) 2306-6784
Published by Virtus Interpress Homepage  [7 journals]
  • Perceived workplace fairness, ethical leadership, demographics, and
           ethical behaviors
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      This investigation examines the impacts of perceived workplace fairness, ethical leadership, and workers' demographics on ethical behaviors within Nigeria's public service. A sample was taken from ten local government areas of Oyo State, Nigeria. However, this investigation has utilized a survey study approach, where the researcher randomly dispersed questionnaires. Out of 500 questionnaires distributed, 452 were suitable for research and analyzed with the Statistical Packages for Social Sciences (SPSS 27). This paper suggests that female civil servants exhibit more ethical behaviors than their male counterparts (Lu & Lu, 2010). Also, older civil servants with higher educational qualifications, who are also at the highest job level, exhibited more ethical behaviors. This paper further established that perceived workplace fairness and ethical leadership significantly and positively impact ethical behavior within Nigeria's public service sector (De Schrijver Delbeke, Maesschalck, & Pleysier, 2010; Meyer, Sison, & Ferrero, 2019). Therefore, state governments should ensure good and sufficient communication amongst workers and managers in identifying and tackling the unfairness between employees' dedications/contributions and their rewards. They should also always establish an employee-fairness policy that suggests treating employees equitably, inspiring increasing ethical behaviors. In addition, state governments and other public organizations should groom leaders that inspire and exemplify ethical behaviors.

      Keywords: Equity, Learning, Reciprocity, Ethics, Civil Servants, Oyo State, Nigeria

      Authors' individual contribution: Conceptualization — F.P.A.; Methodology — F.P.A.; Software — F.P.A., Validation — F.P.A. and W.I.U.; Formal Analysis — F.P.A.; Investigation — F.P.A.; Resources — F.P.A.; Data Curation — F.P.A.; Writing — Original Draft — F.P.A.; Writing — Review & Editing — F.P.A. and W.I.U.; Visualization — F.P.A.; Supervision — W.I.U.; Project Administration — F.P.A. and W.I.U.; Funding Acquisition — W.I.U.

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

      Acknowledgements: The present Authors recognize the Department of Industrial Psychology and People Management, College of Business and Economics, University of Johannesburg in financing this investigation and its publication.

      JEL Classification: J24, J53, M54

      Received: 30.09.2021
      Accepted: 11.05.2022
      Published online: 13.05.2022

      How to cite this paper: Adekanmbi, F. P., & Ukpere, W. I. (2022). Perceived workplace fairness, ethical leadership, demographics, and ethical behaviors [Special issue]. Journal of Governance & Regulation, 11(2), 244–256. https://doi.org/10.22495/jgrv11i2siart4

      2022-05-13T09:57:01Z
       
  • The impact of tax changes on the liquidity of construction companies in
           the developing market
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      Studies to date show that taxes have a very high impact on company liquidity (Law & Yuen, 2019; Drogalas, Lazos, Koutoupis, & Pazarskis, 2019). The International Monetary Fund (IMF, 2022) shows the need to release tax procedures and their monitoring in the Republic of Kosovo. Kosovo law is such that it disables the timely liquidity of construction companies which has an impact on the reduction of construction companies' projects. The main purpose of this paper is to describe the effects of changing the tax laws, namely the law on corporate income tax, personal income, and value-added tax (VAT) on the liquidity of construction companies in Kosovo. For this paper, we employ survey data collected from accountants and financial managers who through the questionnaire have reflected on the need to change the law on personal income, corporate income, and VAT. The models for measuring latent variables are structural equation models 1 and 2 (SEM1 and SEM2) and the ordinary least squares (OLS) models. The empirical results of the SEM1 and first OLS model (OLS1) reveal that the current law on corporate income tax and the law on personal income tax have negative effects on the liquidity of construction companies in the Republic of Kosovo and the empirical results from the SEM2 and second OLS model (OLS2) show that the current law on value-added tax has significant negative effects on the liquidity of construction companies in the Republic of Kosovo.

      Keywords: Liquidity, Construction Companies, Value-Added Tax (VAT), Corporate Income Tax, Personal Income Tax, Investments

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

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

      JEL Classification: G3, H2, L7

      Received: 13.09.2021
      Accepted: 09.05.2022
      Published online: 11.05.2022

      How to cite this paper: Hashani, M., Bajrami, R., & Ukshini, K. (2022). The impact of tax changes on the liquidity of construction companies in the developing market [Special issue]. Journal of Governance & Regulation, 11(2), 234–243. https://doi.org/10.22495/jgrv11i2siart3

      2022-05-11T12:39:34Z
       
  • An assessment of the policy and regulatory outcome by the telecom services
           users: The emerging economy study
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      Outcome-based policy evaluation is an established practice in the distributive and redistributive public policies. Such practices are not evident for competitive regulatory policies of telecom, especially in India. This study bridges this research gap by carrying out an outcome-based evaluation of telecom policy and highlighting the importance of such evaluation. Using the methodological pluralism model from Schalock (2002), the outcome of India's telecom policies was evaluated. Outcome measures from the vision statement of telecom policy were appraised by telecom users by responding to a structured questionnaire-based survey. Factor analysis confirmed that our survey instrument measured the identified policy outcomes. Regression analysis confirmed that users' appraisal was based on their experiences of telecom services. Against five policy outcome measures, the survey respondents agreed on the achievement of affordability of services: 68.9% of the respondents found telecom services not secure; 74.7% of the survey respondents indicated an issue with quality; 55.6% of the respondents did not agree that the services are available anytime, anywhere. Outcome measures like telephone density (teledensity) as adopted by Telecom Regulatory Authority of India (TRAI) and Department of Telecommunications (DoT) are not the true representative of policy outcome. A multistakeholder policy evaluation will reveal the actual policy outcomes. International Telecommunications Union (ITU) should establish a standardized framework for outcome-based policy evaluation to address such issues.

      Keywords: Policy Evaluation, Telecom Policy, Outcome Evaluation, Availability, Quality, Security, Reliability

      Authors' individual contribution: Conceptualization — P.M.; Methodology —P.M., N.P.S., and A.F.; Resources — N.P.S. and A.F.; Data Curation — P.M. and N.P.S.; Writing — Original Draft — P.M.; Writing — Review & Editing — P.M. and N.P.S.; Supervision — N.P.S. and A.F.

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

      JEL Classification: L38, L96, L98, C38, K23, L52

      Received: 07.11.2021
      Accepted: 05.05.2022
      Published online: 09.05.2022

      How to cite this paper: Mishra, P., Singh, N. P., & Farooq, A. (2022). An assessment of the policy and regulatory outcome by the telecom services users: The emerging economy study [Special issue]. Journal of Governance & Regulation, 11(2), 218–233. https://doi.org/10.22495/jgrv11i2siart2

      2022-05-09T14:13:14Z
       
  • The impact of corporate governance on corporate financial performance:
           Cases from listed firms in Turkey
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      This paper examines the effect of corporate governance on corporate financial performance in Turkish firms from 2008 to 2018. Therefore, the objective of the paper is still highly contentious (Ahmed, Alabdullah, Thottoli, & Maryanti, 2020). The generalised method of moments (GMM) technique is employed. The findings show that the board independence ratio is significantly positively related to all performance measures in both the short-run and long-run periods. Ownership structure depicts a significant positive link between return on assets (ROA) and Tobin's Q (significantly negative to return on equity — ROE) in the short run. In the long run, ownership structure and Chief Executive Officer (CEO) duality significantly foster ROE and ROA, but significantly lower Tobin's Q. CEO duality is significantly negatively related with ROA and Tobin's Q, although insignificant, but significantly positively linked with ROE in the short run. Audit quality develops a significant negative connection with ROA in the short run although significantly positive with both ROE and Tobin's Q. In the long run, audit quality significantly fosters all the financial performance proxies. Corporate governance rating is significantly positively linked with ROA, although just positive with ROE in the short run only, but is significantly negatively related with Tobin's Q in both periods.

      Keywords: Audit Quality, CEO Duality, Board Independence Ratio, Corporate Governance Rating, Ownership Structure, Return on Assets (ROA), Return on Equity (ROE), Tobin's Q

      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: M41, M48, M49

      Received: 25.05.2021
      Accepted: 03.05.2022
      Published online: 05.05.2022

      How to cite this paper: Ganda, F. (2022). The impact of corporate governance on corporate financial performance: Cases from listed firms in Turkey [Special issue]. Journal of Governance & Regulation, 11(2), 204–217. https://doi.org/10.22495/jgrv11i2siart1

      2022-05-05T12:02:25Z
       
  • Editorial: Corporate governance — Trends, implications, and
           opportunities
    • "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 3, 2022.

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

      How to cite: Muharremi, O. (2022). Editorial: Corporate governance — Trends, implications, and opportunities. Journal of Governance and Regulation, 11(2), 4–6. https://doi.org/10.22495/jgrv11i2editorial

      2022-05-03T09:49:39Z
       
  • The impact of the governance code on the management of results of listed
           companies in the emerging market
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      Good governance should contribute to improving the company's performance by providing the board of directors with the opportunity to ensure that it acts in the best interests of the shareholders (Fan, Radhakrishnan, & Zhang, 2021). Governance codes, composed of a set of voluntary recommendations, have been developed throughout the world. To date, the question of their effectiveness remains largely open and debated in the international context, and in Morocco in particular. The objective of this paper is to study the influence of compliance with a governance code on performance management practices in Morocco. In particular, it explores whether there is an impact of the corporate governance code via a compliance score on performance management (sales manipulation, abnormal production costs and discretionary expenditure manipulation). This paper uses a panel of data from 54 listed Moroccan non-financial firms from 2013 to 2020. The results of the study show that listed firms have gradually increased their compliance with the code. It appears that some of the code's recommendations are more effective in managing results Furthermore, code compliance and the evolution of code compliance are negatively associated with accounting management and actual earnings management. The code's provisions on the management board and specialised committees seem to limit the management of results. These results seem to confirm the positive impact of the governance code on the quality of accounting results.

      Keywords: Corporate Governance, Management Accounting, Listed Companies, Governance Codes

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

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

      JEL Classification: G3, G30, G32, G34, O16

      Received: 07.12.2021
      Accepted: 22.04.2022
      Published online: 25.04.2022

      How to cite this paper: Daidai, F., & Tamnine, L. (2022). The impact of the governance code on the management of results of listed companies in the emerging market. Journal of Governance & Regulation, 11(2), 181–193. https://doi.org/10.22495/jgrv11i2art16

      2022-04-25T13:50:04Z
       
  • Barriers of implementing the balanced scorecard: Evidence from the banking
           sector in the developing market
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The purpose of this study is to identify and understand the barriers to the balanced scorecard (BSC) implementation in the Sudanese banking sector. To achieve the research objective a qualitative approach is used. The research data were gathered by conducting 12 semi-structured interviews with the managers and senior staff of 10 banks working in Sudan. The findings of this research demonstrated that the major barriers of the BSC implementation in the Sudanese banking sector are as follows: absence of top management motivation and commitment, lack of awareness, lack of training, the high cost of the BSC implementation, the claim of current system sufficiency, difficulties in measuring BSC perspectives, and insufficient IT support. The findings suggest that the top management of the banking sector should be encouraged by the Central Bank of Sudan to consider using the BSC as a priority and include it within their strategic plans, initiate budgets and other resources for better BSC implementation (Gowindasamy & Jantan, 2018). This study contributes to the literature and practice in the field of management accounting by outlining the barriers to implementing the BSC in the banking sector located in a developing African country. The information obtained can enhance our understanding of BSC implantation in emerging economies.

      Keywords: Balanced Scorecard, BSC, Barriers, Banks, Sudan

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

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

      Acknowledgements: We would like to thank our students (Hana, Israa, Nada, Reem, and Roaa) from the School of Management Studies, University of Khartoum, for the appreciated help in the initial work of this study. Our thanks are also extended to the reviewers and participants of the International Conference on Business, Big-Data, and Decision Sciences (ICBBD), Tokyo University of Science, Japan, August 22–24, 2019.

      JEL Classification: M40, M41, M48

      Received: 01.12.2021
      Accepted: 19.04.2022
      Published online: 22.04.2022

      How to cite this paper: Abdalla, Y. A., Ibrahim, A. M., Lasyoud, A. A., & Warsame, M. H. (2022). Barriers of implementing the balanced scorecard: Evidence from the banking sector in the developing market. Journal of Governance & Regulation, 11(2), 173–180. https://doi.org/10.22495/jgrv11i2art15

      2022-04-22T13:23:30Z
       
  • Enhancing firm's performance: The effect of human resources in supply
           chains and job rotation practice
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      Unstructured and random job rotation practice has posed unprecedented challenges for many firms, and impacts on employees worldwide, particularly in Jordan Customs (JC). This paper investigates the current process of the job rotation practice that the Human Resource Supply Chain Management (HRSCM) directorate is applying at JC. Therefore, applying unstructured job rotation practice (i.e., monthly) frequently and regularly will have a significant negative impact on JC performance as a whole. Qualitative methodology was adopted through conducting some semi-structured interviews with managers from mid and top levels, internal employees, external partners, and customers. Forty-six (46) interviewees participated and shared in this study out of 203, representing a 22 percent response rate (Strauss & Corbin, 1998). Additionally, it was reviewed many related previous research studies in the literature in order to collect some other qualitative data from secondary sources (i.e., statistics, annual reports, etc.). The findings of this study show that JC applies the current job rotation practice randomly, unstructured, and not in a perfect and scientific way for achieving its goals and objectives; thus, leads to low revenues and performance (Magova & Kessy, 2020).

      Keywords: Supply Chain, Human Resources, Job Rotation Practice, Performance

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

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

      JEL Classification: J22, J24, J28, J61, J63, L25

      Received: 04.11.2021
      Accepted: 18.04.2022
      Published online: 20.04.2022

      How to cite this paper: Al-Shboul, M. A., Al-Etan, S. M., Albahsh, R., & Al-Dalahmeh, M. (2022). Enhancing firm's performance: The effect of human resources in supply chains and job rotation practice. Journal of Governance & Regulation, 11(2), 159–172. https://doi.org/10.22495/jgrv11i2art14

      2022-04-20T12:01:58Z
       
  • Causality relationship between sustainability factors and water
           management: The emerging market study
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      This paper evaluates the causality relationship between sustainability factors and water management in the South African public sector. The quest to partake in this research is motivated by the need for addressing the prevailing water services delivery challenges (WSDCs) and infrastructure funding deficit challenges (Ruiters, 2013). Given the severity of WSDCs in South Africa, the question which needs redress is whether sustainability factors influence water management and vice versa. Therefore, the main objective of this paper is to explore a unique approach to addressing WSDCs by investigating the bidirectional relationship between sustainability factors and water management. Data spanning 2009–2019 on sustainability factors and water management was collected using quantitative content analysis from web-based sources of purposively selected eight metropolitan municipalities in South Africa. Using Granger non-causality tests, social and environmental management practices have had a bidirectional relationship with water management. Besides, causality analysis involving corporate governance and economic measures failed to produce outright opposite direction connections. The results suggest that stakeholders and policymakers should acknowledge the role of sustainability factors in addressing investment challenges confronting the water sector. Therefore, the study recommends further research into establishing the significance and direction of the relationship between sustainability factors and water management.

      Keywords: Investments, Governance, Water, Sustainability, Environment

      Authors' individual contribution: Conceptualization — S.M. and M.B.F.; Methodology — S.M.; Investigation — S.M.; Resources — S.M. and M.B.F.; Writing — S.M. and M.B.F.; Supervision — M.B.F.; Funding Acquisition — S.M.

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

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

      JEL Classification: D24, O19, Q25, Q56, F64

      Received: 25.09.2021
      Accepted: 14.04.2022
      Published online: 18.04.2022

      How to cite this paper: Mukwarami, S., & Fakoya, M. B. (2022). Causality relationship between sustainability factors and water management: The emerging market study. Journal of Governance & Regulation, 11(2), 144–158. https://doi.org/10.22495/jgrv11i2art13

      2022-04-18T13:51:00Z
       
  • Analysis of community activity restriction policy (PPKM) during the
           COVID-19 pandemic
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The purpose of this study was to determine community activities during the implementation of the activity restriction policy (Indonesian: Pemberlakuan Pembatasan Kegiatan Masyarakat, PPKM) during the COVID-19 pandemic in Medan city. The type of research method is a quantitative descriptive study using a survey design. The instrument used in this research is a questionnaire. The sampling technique was using accidental sampling so that the number of samples obtained was 790 people. The findings of this study are that the characteristics and economic activities of the people of Medan city during the implementation of PPKM are in the essential sector of as many as 423 respondents (53.6%). Quantitatively, this figure is high because it is above 50% when compared to the non-essential sector, which is less than 367 respondents (47.4%). PPKM officers need to ensure that employees who do not work in the office are for non-essential sector companies that run work from home (WFH) to avoid the spread of COVID-19. The selection of appropriate policies and public obedience to government policies related to activity restrictions can break the chain of the spread of COVID-19 in Medan city.

      Keywords: Enforcement, Restriction Policy, Economy, Pandemic

      Authors' individual contribution: Conceptualization — D.H. and N.H.; Methodology — N.H.; Formal Analysis — N.H.; Validation — N.H.; Visualization — D.H. and N.H.; Writing — Review & Editing — D.H. and N.H.; Project Administration — D.H. and N.H.

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

      JEL Classification: G18, G38, H83, J61, J78

      Received: 20.10.2021
      Accepted: 13.04.2022
      Published online: 15.04.2022

      How to cite this paper: Hartanto, D., & Hidayat, N. (2022). Analysis of community activity restriction policy (PPKM) during the COVID-19 pandemic. Journal of Governance & Regulation, 11(2), 134–143. https://doi.org/10.22495/jgrv11i2art12

      2022-04-15T11:40:53Z
       
  • Challenges faced by hospital management boards: A case of central
           hospitals in the emerging market
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      Zimbabwe's health care sector has been on the decline since the attainment of political independence in 1980 with the blame leveled against the hospital's governance system. Responding to the blame, The Ministry of Health and Child Care, responsible for all public hospitals in Zimbabwe, has revamped the hospital governance system by introducing what is referred to as the hospital management board (HMB) tasked with the responsibility to provide the oversite role (Moyo, 2016; Sikipa, Osifo-Dawodu, Kokwaro, & Rice, 2019). The study, therefore, sought to establish the challenges faced by HMBs in the management of public hospitals with a focus on six (6) central hospitals in Zimbabwe. A mixed-method design was employed using the questionnaire and interviews to collect data from 66 censured board members for the quantitative study, and 12 purposively selected board members for the qualitative study. The study revealed that HMBs faced numerous challenges that include an unconducive economic environment responsible for high costs in hospital health care and services, ineffective policies, a weak referral system, and inexperienced board members. The study recommends that HMBs should be appointed based on relevant experience in public hospital leadership. Drawing from the findings, most HMBs must be reconstituted to include members with relevant experience, a focus on policy issues towards improving the ineffective hospital referral system.

      Keywords: Hospital Management Board, Zimbabwe, Hospital Governance, Policy, Central Hospital

      Authors' individual contribution: Conceptualization — W.F. and E.M.; Supervision — B.Y. and E.M.; Funding Acquisition — E.M.

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

      JEL Classification: D73

      Received: 06.10.2021
      Accepted: 11.04.2022
      Published online: 14.04.2022

      How to cite this paper: Funhiro, W., Yalezo, B., & Mutambara, E. (2022). Challenges faced by hospital management boards: A case of central hospitals in the emerging market. Journal of Governance & Regulation, 11(2), 124–133. https://doi.org/10.22495/jgrv11i2art11

      2022-04-14T14:53:16Z
       
  • Governance of financial management and regulation-based fiscal
           accountability
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      This study aims to analyze financial accountability based on the regulation as a moderating effect of fiscal decentralization on fraud rates in local government financial management. Regulatory accountability consists of financial reporting accountability, accountability of the government internal control system, accountability compliance with legislation and accountability follow-up to audit results. This research is an empirical research with a purposive sampling technique in collecting data. The data used in this study is secondary data with a sample of 412 regency and city governments in Indonesia, during 2011–2014. Data processing used WarpPLS statistic software. The results show empirical evidence that fiscal decentralization has a positive effect on fraud rates in regional financial management. Accountability, financial reporting and accountability compliance with legislation are empirically proven as moderating the effects of fiscal decentralization on fraud rates in regional financial management. In addition, the results of this study also show that the low level of accountability of the internal control system and accountability does not continue the results of the examination so it cannot moderate the effect of fiscal decentralization on fraud rates in regional financial management. The results of this study have implications for strengthening agency theory, institutional theory, economic regulation theory and fraud triangle theory. The results of this study also have practical implications for the role of accountability through the formulation of regulations related to sanctions and rewards for local governments to carry out good governance through increasing their financial accountability. In addition, the regional government is expected to pay attention to audit recommendations so that it can reduce fraud rates in regional financial management.

      Keywords: Fiscal Decentralization, Local Governance, Financial Accountability, Regulation, Fraud Triangle, Financial Management

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

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

      JEL Classification: M41, M42, M48

      Received: 28.10.2021
      Accepted: 08.04.2022
      Published online: 12.04.2022

      How to cite this paper: Din, M., Munawarah, M., Ghozali, I., Achmad, T., & Karim, F. (2022). Governance of financial management and regulation-based fiscal accountability. Journal of Governance & Regulation, 11(2), 116–123. https://doi.org/10.22495/jgrv11i2art10

      2022-04-12T14:41:55Z
       
  • Do better-governed firms enhance shareholders' value' A study of
           corporate governance index firms
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      Malaysia has taken various actions to improve the corporate governance (CG) mechanisms and practices for all listed firms. In 2011, the Malaysian Corporate Governance Index (MCGI) was released, and before that, in 2009, the blueprint of MCGI was introduced. As a result, MCGI released annually the top 100 listed Malaysian firms that have been classified and ranked as the well-governed firms from its corporate governance compliance and disclosure. This study examines the efficacy of MCGI on shareholders' value over the 12-year periods from 2008 to 2019 and compares pre- and post-CG Blueprint. A generalized least square (GLS) method is employed as it fits the data characteristics in this study, and robust results are yielded. The results reveal that MCGI, firm size, ROA, and female directors exhibit a significant impact on shareholders' value while leverage and growth yield non-significant effects on shareholders' value. Overall, firms tend to use external financing rather than internal financing as the preferred option. This supports the contention that trade-off theory was adopted in the Malaysian context for the study period. However, this result is unstable over time; therefore, an up-to-date investigation of its relationship is necessary.

      Keywords: Corporate Governance, Shareholders' Value, Malaysian Corporate Governance Index (MCGI), Malaysian Listed-Firms

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

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

      JEL Classification: G30, G32, G34

      Received: 10.11.2021
      Accepted: 07.04.2022
      Published online: 11.04.2022

      How to cite this paper: Basyith, A., Ho, P., & Fauzi, F. (2022). Do better-governed firms enhance shareholders' value? A study of corporate governance index firms. Journal of Governance & Regulation, 11(2), 107–115. https://doi.org/10.22495/jgrv11i2art9

      2022-04-11T14:17:00Z
       
  • The influence of fraud triangle factors on real earnings management
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      This study aims to examine the relationship between factors of pressure, opportunity, and rationalization, and the occurrence of real earnings management among Malaysian public listed companies. The study used a sample of 557 Malaysian public listed companies between 2017 and 2019, comprising a total of 1,671 firm-year observations. Replicating a study by Khanh and Nguyen (2018), but not limited to external governance of audit quality, the study added to the knowledge of real earnings management by taking into account the effect of internal governance such as board independence and multiple directorships. And, following Roychowdhury (2006), real earnings management is measured by abnormal cash flow from operations, abnormal production costs, and abnormal discretionary expenditure. The results from regression analysis show that there is a negative and significant association between financial performance, measured by return on assets, and real earnings management. In addition, the results also show that there is a positive and significant association between audit quality, measured by audit firm size, and real earnings management. The findings of this study provide useful insights for the investors to reassess firm corporate governance, and for the regulators to reconsider the current regulations with regard to the practice of real earnings management.

      Keywords: Earnings Management, Financial Reporting, Corporate Governance, External Audit, Regression Analysis, Malaysia

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

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

      Acknowledgements: The Authors would like to express their gratitude to the Research Management Centre, Universiti Teknologi MARA, for funding the research project through the Strategic Research Partnership Grant (100-RMC 5/3/SRP (080/2021). Our appreciation also goes to the Faculty of Accountancy, Universiti Teknologi MARA, for facilitating this research project.

      JEL Classification: M41

      Received: 27.12.2021
      Accepted: 05.04.2022
      Published online: 08.04.2022

      How to cite this paper: Hasnan, S., Othman, N., Hussain, A. R. M., & Ali, M. M. (2022). The influence of fraud triangle factors on real earnings management. Journal of Governance & Regulation, 11(2), 94–106. https://doi.org/10.22495/jgrv11i2art8

      2022-04-08T14:47:43Z
       
  • Revenue standard and earnings management during the COVID-19 pandemic: A
           comparison between IFRS and GAAP
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      International Financial Reporting Standards 15 — Revenue from Contracts with Customers (IFRS 15) was issued to inhibit the use of revenues for earnings management purposes. During COVID-19, the standard was used to manage earnings (Lopatta, Alexander, Gastone, & Tammen, 2020). This study aims to explain earnings management practices by using a revenue standard. An online questionnaire was distributed by Momentive Inc. (formerly SurveyMonkey Inc.) to accountants working in two different contexts: Jordan as an IFRS country and the USA as a Generally Accepted Accounting Principles (GAAP) country. A convenience sample of 304 questionnaires from both countries was valid for analysis. The findings of ordinary least square (OLS) regression suggest that, during COVID-19, both users used the revenue standard as a tool to manage earnings. In addition, IFRS users were more conservative than GAAP users in terms of existing contracts, while both of them were the same in terms of future contracts. The results should help policymakers and regulators to rethink the flexibility given to managers in dealing with revenue contracts. In addition, they should help managers efficiently manage the revenue contracts.

      Keywords: IFRS 15, IAS 18, ASC 606, Revenue from Contracts with Customers, COVID-19, Earnings Management

      Authors' individual contribution: Conceptualization — M.M.Y.; Methodology — M.M.Y.; Formal Analysis — M.M.Y.; Resources — D.A.-D.A.-S. and K.A.A.D.; Writing — Original Draft — M.M.Y., O.S.S., D.A.-D.A.-S., and K.A.A.D.; Writing — Review & Editing — M.M.Y., O.S.S., D.A.-D.A.-S., and K.A.A.D.; Funding Acquisition — M.M.Y. and O.S.S.

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

      Acknowledgements: This work was supported and funded by Al Zaytoonah University of Jordan [Scientific research project No. 25/11/2020–2021].

      JEL Classification: G34, M41, O57

      Received: 28.11.2021
      Accepted: 04.04.2022
      Published online: 06.04.2022

      How to cite this paper: Yassin, M. M., Shaban, O. S., Al-Sraheen, D.A.-D., & Al Daoud, K. A. (2022). Revenue standard and earnings management during the COVID-19 pandemic: A comparison between IFRS and GAAP. Journal of Governance & Regulation, 11(2), 80–93. https://doi.org/10.22495/jgrv11i2art7

      2022-04-06T15:12:17Z
       
  • Understanding information technology culture in digital-based public
           services
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The increasing enthusiasm of government agencies to implement e-government can be seen as the government's commitment to anticipating the current development of science and technology (Gupta, Singh, & Bhaskar, 2018; Wang, Wang, & Liu, 2016). The present study was designed to investigate the information technology culture of public organizations in the context of public services in the Magelang City Government, Indonesia, and identify the driving and inhibiting factors of e-government based public services in the city. A mixed method with a sequential explanatory design was employed in the study. Data were garnered through questionnaire surveys, documentation, observation, and interviews. A descriptive statistic was used for the quantitative data analysis, while for the qualitative data analysis, a thematic process was conducted. Findings from the study suggest that the information technology culture in the city's governance is mainly influenced by five factors: technocratic utopianism, anarchy, feudalism, dictatorship, and federalism. The findings are crucial as they contribute to the discovery of the root cause of the problem that the implementation of e-government based public services in Indonesia is not yet optimal.

      Keywords: Digitalization, E-Government, Information Culture, Public Service

      Authors' individual contribution: Conceptualization — J.T.N.; Methodology — J.T.N.; Investigation — T.A., H.W., and T.Y.; Resources — J.T.N.; Writing — Original Draft — J.T.N.; Writing — Review & Editing — T.A., H.W., and T.Y.; Funding Acquisition — T.A., H.W., and T.Y.

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

      JEL Classification: H8, M1, M2, O3

      Received: 09.11.2021
      Accepted: 01.04.2022
      Published online: 04.04.2022

      How to cite this paper: Nugraha, J. T., Achmad, T., Warsono, H., & Yuniningsih, T. (2022). Understanding information technology culture in digital-based public services. Journal of Governance & Regulation, 11(2), 62–79. https://doi.org/10.22495/jgrv11i2art6

      2022-04-04T13:43:22Z
       
  • Branding of products as a region and country icon: Governance and
           entrepreneurship in the textile industry
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      This study seeks to describe and give an overview of product branding theory from the phenomenon of entrepreneurial empowerment for original Solo batik (Batik Asli Solo) clothing products. By referring to Trihatmoko (2019b), this study applied a qualitative research method using a phenomenological approach and pragmatism interpretation. The theoretical foundation was structurally depicted in agency theory and channel management from Bergen, Dutta, and Walker (1992). The results of this study identified that product branding includes entrepreneurial creativity and marketing strategies that determine or have an impact on brand performance and the competitive market. Creativity and marketing strategies carried out by batik entrepreneurs depend on government regulations at the regional and central levels, in the context of economic empowerment. Brand performance and market competitions are branding outcomes that create regional and country icons. An icon is built continuously by consumers' perceptions and evaluations of their behavior, namely consumers and businesses by the local, national and international market. So, the theorizing of the research findings describes that batik is an icon of Solo and Indonesia for the international community. This paper contributes to the expansion of marketing management knowledge, namely the marketing mix, entrepreneurial behavior, and consumer and business behavior. In practice, it has implications for the entrepreneurship of clothing products based on local wisdom as well as government regulations in economic empowerment for micro, small, and medium enterprises (MSMEs).

      Keywords: Batik Entrepreneurship, Clothing Product, Government Regulation, Marketing Strategies, Products Branding, Region and Country Icon

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

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

      Acknowledgements: The Authors express their thanks to the Directorate General of Institutional Science, Technology and Higher Education, Ministry of Education and Culture of the Republic of Indonesia, for financial support for this research project (grant No. 017/LL6/PG/SPH2H.1/AMD/Penelitian/2020).

      JEL Classification: M110, M310, M370, M380

      Received: 28.10.2021
      Accepted: 30.03.2022
      Published online: 01.04.2022

      How to cite this paper: Primantari, L., Trihatmoko, R. A., & Handoko, T. (2022). Branding of products as a region and country icon: Governance and entrepreneurship in the textile industry. Journal of Governance & Regulation, 11(2), 50–61. https://doi.org/10.22495/jgrv11i2art5

      2022-04-01T14:35:45Z
       
  • Financial development measurement: Comparison of the high- and low-income
           countries
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The literature that treats financial sector development and its impact on various economic phenomena does not recognise a single indicator of financial development measurement, nor do the various regulators of the financial sector have a single indicator to measure its development. Divergencies in financial development proxies used have prompted the International Monetary Fund (IMF) staff to create an indicator that includes all aspects of financial sector development (Čihák, Demirgüç-Kunt, Feyen, & Levine, 2012). The purpose of this paper is to show the main indicators of the financial development measurement and the gap between high- and low-income countries' financial systems using the financial development index (FD index) developed by the IMF. This paper introduces the financial development indicator and uses it to compare different income group countries. The results show differences in the levels of financial development across countries. We also notice an improvement of the overall financial system in all of the groups of countries, showing an increasing trend in the last 10 years compared to the previous 10 years, but the desperate fact is that low-income countries have a long way to go to reach the level of financial development of high-income countries.

      Keywords: Financial Development, Financial Indicators, High- and Low-Income Countries

      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: G1, G2, P24

      Received: 18.10.2021
      Accepted: 29.03.2022
      Published online: 31.03.2022

      How to cite this paper: Dallsohi, P. (2022). Financial development measurement: Comparison of the high- and low-income countries. Journal of Governance & Regulation, 11(2), 41–49. https://doi.org/10.22495/jgrv11i2art4

      2022-03-31T12:43:08Z
       
  • Role of code of ethics in building a fraud-resilient organization: The
           case of the developing economy
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      Due to the prevalence of fraud and corruption in Malaysia's economic and governmental sectors, this article examines the importance of ethical standards and their application in constructing a fraud-resistant organization. Public confidence in officials' honesty and commitment to the common good has been eroded by their unethical behavior (Salin, Ismail, Smith, & Nawawi, 2019). Without a doubt, adhering to a code of ethics enhances an organization's reputation, which can assist in keeping and attracting new consumers and investors, as well as in developing the organization's brand image in private and public organizations (Yallop, 2012). However, conformity with the code of ethics is acknowledged as insufficient due to a variety of constraints. As such, this study aims to provide light on the role of codes of ethics in fostering the development of fraud-resistant organizations and the impediments to code of ethics adoption in Malaysia. Numerous databases, including Scopus, Web of Science, Science Direct, and Google Scholar, were reviewed to assemble literature on the issue from 2010 to 2021. This article helps to public awareness and understanding of Malaysia's commercial and government sectors' code of ethics, as well as its present state of application. Additionally, the article discusses limitations and future studies.

      Keywords: Code of Ethics, Public and Private Organizations, Ethical Values, Fraud-Resilient

      Authors' individual contribution: Conceptualization — R.J.J.; Methodology — I.B.M.H.; Resources — I.R. and N.A.T.; Formal Analysis — R.J.J.; Writing — Original Draft — I.B.M.H. and I.R.; Writing — Review & Editing — R.J.J. and N.A.T.; Supervision — R.J.J. and I.R.; Project Administration — I.B.M.H. and N.A.T.

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

      Acknowledgements: The Authors gratefully acknowledge Faculty of Accountancy, Universiti Teknologi Mara, Shah Alam, Malaysia and Universitas Swadaya Gunung Jati, Cirebon, Indonesia, for all supports and resources.

      JEL Classification: M1, M4

      Received: 04.10.2021
      Accepted: 28.03.2022
      Published online: 30.03.2022

      How to cite this paper: Johari, R. J., Rosnidah, I., Talib, N. A., & Helmi, I. M. (2022). Role of code of ethics in building a fraud-resilient organization: The case of the developing economy. Journal of Governance & Regulation, 11(2), 32–40. https://doi.org/10.22495/jgrv11i2art3

      2022-03-30T14:34:57Z
       
  • Risk governance and risk taking behavior of banks in emerging markets
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The study examines how risk governance mechanisms affect the risk activities of banks in emerging markets, Africa in particular. The sample comprised of forty-one banks in twelve African economies. Consistent with Akbar, Kharabsheh, Poletti-Hughes, and Shah (2017), Battaglia and Gallo (2017), and Sila, Gonzalez, and Hagendorff (2016), system GMM which controls for reverse causality and endogeneity was used for analysis. Surprisingly, the study found that the presence of a standalone risk committee, training in risk management and/or related courses, and the appointment of the chief risk officer (CRO) to the board increases instead of decreasing bank risk. Qualifications and experience in risk management or finance and the establishment of a CRO position were found to have an insignificant impact on risk outcomes. Intuitively, the study found that the appointment of females on bank boards results in risk-averse decisions and thus supports current calls for female representation on boards. A key takeaway from this paper is that establishing effective risk governance systems in emerging markets creates incentives for banks to take more risk, possibly, due to the fact that governance mechanisms that align the interests of managers and shareholders lead to higher bank risk (Felício, Rodrigues, Grove, & Greiner, 2018). This counterintuitive behavior calls for the design of appropriate governance and regulatory mechanisms that curtail bank risk in the African context.

      Keywords: Risk Governance, Risk-Taking Behavior, Banks, Africa, System GMM

      Authors' individual contribution: Conceptualization — T.M.; Methodology — T.M.; Software — T.M.; Validation — S.G.; Formal Analysis — T.M.; Investigation — T.M. and S.G.; Resources — S.G.; Data Curation — T.M.; Writing — Original Draft — T.M.; Writing — Review & Editing — S.G.; Visualization — S.G.; Supervision — S.G.; Project Administration — T.M.; Funding Acquisition — S.G.

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

      JEL Classification: G1, G21, G30, G32, M14

      Received: 22.09.2021
      Accepted: 25.03.2022
      Published online: 28.03.2022

      How to cite this paper: Mashamba, T., & Gani, S. (2022). Risk governance and risk taking behavior of banks in emerging markets. Journal of Governance & Regulation, 11(2), 15–31. https://doi.org/10.22495/jgrv11i2art2

      2022-03-28T13:08:06Z
       
  • The impact of thin capitalization rules on capital structure and tax
           avoidance
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      This study aims to examine the effect of the thin capitalization rules on capital structure (leverage) and tax avoidance. This is quantitative research using the difference-in-difference (DID) method, with multiple linear regression models. The sample used in this research is companies listed on the Indonesia Stock Exchange (IDX). The type of data used in this study is secondary data in the form of financial statements from 2013 up to 2018. The sample selection using the purposive sampling method with the number of samples amounted to 804 observations (firm-year). The regression method employs panel data with a period of six years (2013 to 2018). The results show that the thin capitalization rules reduced the leverage of companies with high and low debt-to-equity ratio (DER). Companies with high DER experience a decrease in leverage 2.3 times greater than companies with low DER. The results also show that the thin capitalization rules do not affect tax avoidance for companies with high and low DER. This research contributes to providing improvement in tax provisions. In practice, it provides recommendations to the Indonesian Tax Authority (ITA) to revise PMK-169/PMK.010/2015 and that ITA should consider using the best practice suggested by the Organization for Economic Co-operation and Development (OECD) in conducting interest limitation (i.e., the fixed ratio rule).

      Keywords: Capital Structure, Tax Avoidance, Thin Capitalization, Thin Capitalization Rule

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

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

      Acknowledgements: The Authors thank the Ministry of Finance of the Republic of Indonesia for facilitating the research. We also thank Polytechnic of State Finance STAN for giving us motivation and a good opportunity to improve our research skills, especially in accounting and taxation.

      JEL Classification: G32, H26, K34, K34

      Received: 01.10.2021
      Accepted: 23.03.2022
      Published online: 25.03.2022

      How to cite this paper: Anindita, R. I., Irawan, F., Firmansyah, A., Wijaya, S., Qadri, R. A., Sumantri, J., Andriani, A. F., & Mahrus, M. L. (2022). The impact of thin capitalization rules on capital structure and tax avoidance. Journal of Governance & Regulation, 11(2), 8–14. https://doi.org/10.22495/jgrv11i2art1

      2022-03-25T09:11:11Z
       
  • Editorial: Implications of different corporate governance models in
           emerging and developing economies
    • "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 March 22, 2022.

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

      How to cite: Owusu, A. (2022). Editorial: Implications of different corporate governance models in emerging and developing economies [Special issue]. Journal of Governance and Regulation, 11(1), 196–198. https://doi.org/10.22495/jgrv11i1sieditorial

      2022-03-22T11:37:44Z
       
  • Ownership, control, group affiliations, and wealth concentration: The case
           of a developing market
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The aim of this paper is to assess ownership and control of Jordanian listed firms by identifying group affiliations, control-enhancing mechanisms, and the wealth of controlling owners. Hand-collected data for 237 firms listed on the Amman Stock Exchange (ASE) is used to identify ultimate owners, construct affiliated groups, and compute the separation between cash flow rights and control rights created by pyramid structures and cross-holdings. The findings indicate that more than one-third of listed firms are group-affiliated, the majority of listed firms are controlled by families then by foreigners and a small number of firms are controlled by the state. They also indicate that family and foreign investors use pyramids to enhance their control of business groups creating a wedge between cash flow and control rights with pronounced use of pyramids among foreign firms. In addition, the top family and foreign owners control at least 22% of corporate assets with half of this control being exercised by foreign investors originating from the Gulf region. The latter finding has important implications regarding the ongoing impact of the Arab Gulf on capital formation in the Middle East and North Africa (MENA) region.

      Keywords: Ownership Structure, Cash Flow Rights, Voting Rights, Group Affiliation, Business Groups, Developing Markets

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

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

      Acknowledgements: The Author kindly acknowledges the financial support received from the Deanship of Scientific Research (DSR), The University of Jordan under Grant No. 22/2017–2018. The DSR, The University of Jordan had no involvement in the conduct of this research or the preparation of this article. Also, the Author would like to thank participants in the conference on “The Political Economy of State Business Relations” organized by the Economic Research Forum (ERF) and École normale supérieure for providing useful comments on an earlier version of this paper circulated under the title “The Division of Ownership and Control in Listed Jordanian Firms”. All remaining errors are the Author's.

      JEL Classification: G32, L22

      Received: 08.11.2021
      Accepted: 14.03.2022
      Published online: 15.03.2022

      How to cite this paper: Tayem, G. (2022). Ownership, control, group affiliations, and wealth concentration: The case of a developing market [Special issue]. Journal of Governance & Regulation, 11(1), 376–388. https://doi.org/10.22495/jgrv11i1siart16

      2022-03-15T09:32:24Z
       
  • Critical success factors of cloud enterprise resource planning systems and
           financial performance: Evidence from emerging markets
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      Cloud ERP (C-ERP) systems help firms to reach greater levels of sustainable performance (Gupta, Qian, Bhushan, & Luo, 2019). Ali (2016) demonstrate that the enterprise resource planning (ERP) system implementation influences financial performance indicators. Huang, Rahim, Foster, and Anwar (2021) had investigated and identified the critical success factors (CSFs) which may affect the successful implementation of C-ERP systems. However, no empirical evidence was found on the relationship between C-ERP critical success factors and financial performance. This study examined the effect of key CSFs of the C-ERP systems on financial performance in the post-implementation stage. An online questionnaire was developed to collect data about CSFs in C-ERP firms. The financial ratios were collected from the Amman Stock Exchange (ASE) filings. OLS analysis suggests that financial performance is affected by technological competence, management support, organizational culture, and system characteristics. The study provides empirical evidence on the cause-effect relationship which emphasizes the difference made in long-term financial success by the various managerial techniques. The results provide practical implications to management and service providers that help in installing and maintaining C-ERP systems.

      Keywords: Cloud Computing, Cloud Enterprise Resource Planning Systems, Cloud ERP, Financial Performance, Critical Success Factors

      Authors' individual contribution: Conceptualization — M.J.H. and M.M.Y.; Methodology — M.M.Y.; Formal Analysis — S.M.O.; Writing — M.J.H. and M.M.Y.

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

      JEL Classification: M40, M41, M15

      Received: 14.11.2021
      Accepted: 09.03.2022
      Published online: 11.03.2022

      How to cite this paper: Hamad, M. J., Yassin, M. M., & Okour, S. M. (2022). Critical success factors of cloud enterprise resource planning systems and financial performance: Evidence from emerging markets [Special issue]. Journal of Governance & Regulation, 11(1), 361–375. https://doi.org/10.22495/jgrv11i1siart15

      2022-03-11T15:23:05Z
       
  • Factors affecting female online purchase decision
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      This study enhances the existing literature on female online buying decisions by evaluating the factors shaping women's clothing purchase decision-making. Hence, it investigates the influence of social media interactive marketing activities, i.e., electronic advertising (e-Ads), electronic word of mouth (e-WOM), interaction (Int.), and content credibility (CC), on female purchase decisions. The study adopted the logic of quantitative approach using an e questionnaire as a main data collection tool targeting online female consumers. Data were collected from 388 female social media users, and regression analysis was applied. The results of the study confirmed the association between a firm's use of interactive marketing applications and activities and female purchase decisions. In addition, the results pointed out the electronic interactive activities of social media platforms such as e-Ads, CC, and e-WOM as powerful tools that support firm's marketing strategies via their positive influence on female purchase decisions. The result is consistent with previous research (Park, Hyun, & Thavisay, 2021; Tran, 2017). The study provides several implications and recommendations for practice: focusing on content credibility, enriching the interactive content of brand name page, providing more details about offerings, and the continuous development of advertising, contents, and techniques. And for future research, as this study derived its findings from an evaluation carried out in the Jordanian clothing market, it is recommended to extend this evaluation to be conducted in other contexts and to consider other demographical and economic variables.

      Keywords: Social Media Platforms, Interactive Marketing Activities, Female Purchase Decision

      Authors' individual contribution: Conceptualization — M.S.A. and M.L.A.; Methodology — M.S.A. and A.N.A.W.; Formal Analysis — M.L.A., N.N.A., and A.N.A.W.; Resources — M.L.A., N.N.A., and A.N.A.W. Writing — Original Draft — M.S.A. and M.L.A.; Writing — Review & Editing — M.S.A., M.L.A., and A.N.A.W.

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

      JEL Classification: M3, M31, M39

      Received: 18.10.2021
      Accepted: 08.03.2022
      Published online: 10.03.2022

      How to cite this paper: Allan, M. S., Ashour, M. L., Ali, N. N., & Al Warasneh, A. N. (2022). Factors affecting female online purchase decision [Special issue]. Journal of Governance & Regulation, 11(1), 351–360. https://doi.org/10.22495/jgrv11i1siart14

      2022-03-10T16:28:28Z
       
  • Mediating role of employee commitment in the relationship between
           transactional leadership and employee performance
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      For any organization to accomplish its key goals and survive in the aggressive market, employees' job performance plays a fundamental role (Falola, Osibanjo, & Ojo, 2014). The type of leadership style affects the level of employees' commitment. Besides, employee commitment is extremely important for leaders to keep their workers driven and satisfied (Riaz et al., 2017). This study intends to examine the significance of employee commitment as a mediator in the relationship between transactional leadership style and employee performance among Malaysian construction sector employees. Using the simple random sampling technique, this target population completed a self-administered questionnaire which was assessed using structural equation modelling (SEM) through IBM-SPSS-AMOS 24.0. Resultantly, transactional leadership style proved insignificant in forecasting employee performance while employee commitment substantially affected employee performance. Meanwhile, transactional leadership significantly impacted employee commitment while employee commitment fully mediated the relationship between transactional leadership and employee performance. The research's implications are furthermore reviewed.

      Keywords: Transactional Leadership, Employee Commitment, Employee Performance, Malaysia, Construction Firms

      Authors' individual contribution: Conceptualization — S.M.; Methodology — A.S.B. and N.A.; Formal Analysis — S.M.; Investigation — M.S.A.H.; Writing — S.M., M.S.A.H., A.S.B., and N.A.; Supervision — S.M.; Funding — M.S.A.H., A.S.B., and N.A.

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

      JEL Classification: M1, M12, M540, O530, M210, L740

      Received: 09.10.2021
      Accepted: 07.03.2022
      Published online: 09.03.2022

      How to cite this paper: Mahfouz, S., Halim, M. S. A., Bahkia, A. S., & Alias, N. (2022). Mediating role of employee commitment in the relationship between transactional leadership and employee performance [Special issue]. Journal of Governance & Regulation, 11(1), 337–350. https://doi.org/10.22495/jgrv11i1siart13

      2022-03-09T14:33:01Z
       
  • Formal Sector Social Health Insurance Programme (FSSHIP) regulatory
           reforms: Critical factors
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The paper aims to establish the challenges facing the implementation of the Formal Sector Social Health Insurance Programme (FSSHIP) in South-East Nigeria as well as determine the level of awareness of FSSHIP among the federal workers in South-East Nigeria. The study relied on a survey approach. A sample size of 513 federal workers was determined using Cochran's (1963) formula for sample determination. The sample size for each ministry selected was determined using Bowley's proportional allocation statistical technique. In selecting the sample from each ministry, a simple random sampling technique by way of the lottery was employed. A questionnaire was used to collect data. A five-point Likert scale questionnaire was used to obtain the data. Principal component analysis (PCA) was applied to test the formulated hypotheses measuring the critical factors and challenges of the Formal Sector Social Health Insurance Scheme in South-East Nigeria. Although the PCA helped to reduce overfitting and eliminate noise, it required data standardization. The result indicated a very strong positive relation between the two test-retest exercises. The findings also showed that a low level of awareness, cultural and religious practices, poor public perception, corruption, and inadequate financing were critical factors that affected the scheme. These identified challenges, if unaddressed, will grossly affect the successful implementation of the scheme. Government should therefore develop strategies that would make the operations of the scheme more efficient and seamless. The successful implementation of FSSHIP indicates to the international community that Nigeria is efficient in the provision of affordable healthcare to its people and thus would attract international aid.

      Keywords: Formal Sector Health Insurance Programme, Regulatory Reforms, Awareness, Challenges

      Authors' individual contribution: Conceptualization — A.A.I.; Methodology — A.A.I. and I.E.; Investigation — A.A.I. and W.I.U.; Resources — W.I.U.; Writing — Original Draft — A.A.I., I.E., and W.I.U.; Writing — Review & Editing — A.A.I., I.E., and W.I.U.; Supervision — A.A.I. and W.I.U.; Funding Acquisition — A.A.I.

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

      JEL Classification: I380, K200, O170

      Received: 30.09.2021
      Accepted: 02.03.2022
      Published online: 04.03.2022

      How to cite this paper: Igwe, A. A., Ejike, I., & Ukpere, W. I. (2022). Formal Sector Social Health Insurance Programme (FSSHIP) regulatory reforms: Critical factors [Special issue]. Journal of Governance & Regulation, 11(1), 327–336. https://doi.org/10.22495/jgrv11i1siart12

      2022-03-04T12:18:35Z
       
  • Towards a normative framework for local authorities in facilitating
           foreign direct investment
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      Using two local authorities (LAs) (Windhoek and Walvis Bay) in Namibia, this study problematises their negative and neutral developmental experiences with facilitating foreign direct investment (FDI) as concerning (Jauch, 2020). The absence of a normative framework for LA FDI facilitation in Namibia's multi-level government (MLG) system creates a developmental quagmire for LAs. This study develops a normative framework for LA FDI facilitation to avert the negative and neutral developmental experiences of LAs with facilitating FDI. Using the qualitative method, this study interviewed 13 key respondents that were sampled through the purposive/judgemental technique. Data were interpreted and presented through thematic analysis. The key findings point to the development of a normative framework for LA FDI facilitation that ascends the need for 1) sufficient decentralised functions of FDI facilitation in an MLG system; 2) policy and legislative harmonisation to avert challenges of coordination and implementation in an MLG system; 3) institutional structures for an efficient MLG system at the LA level; and 4) broader legal and policy framework for efficient governance at the sub-national government (SNG) level in an MLG system. This study recommends the application of this normative framework in MLG systems to ascend LAs' developmental role in facilitating FDI for development.

      Keywords: Normative Framework, Local Authority, Foreign Direct Investment, Facilitation, Namibia

      Authors' individual contribution: Conceptualization — R.V.M.; Methodology — R.V.M.; Validation — R.V.M.; Formal Analysis — R.V.M.; Investigation — R.V.M.; Resources — R.V.M.; Writing — Original Draft — R.V.M.; Writing — Review & Editing — R.V.M., L.B., and O.K.-M.; Visualization — R.V.M.; Project Administration — R.V.M.; Supervision —L.B. and O.K.-M.

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

      JEL Classification: G38, H11, H79, H83

      Received: 05.10.2021
      Accepted: 28.02.2022
      Published online: 02.03.2022

      How to cite this paper: Marenga, R. V., Blaauw, L., & Kakujaha-Matundu, O. (2022). Towards a normative framework for local authorities in facilitating foreign direct investment [Special issue]. Journal of Governance & Regulation, 11(1), 312–326. https://doi.org/10.22495/jgrv11i1siart11

      2022-03-02T14:31:04Z
       
  • Fraud risk judgment measurement scale development
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      Recently, many financial scandals and frauds have been published in mass media. It has resulted in ruining the public trust in the internal auditor profession as the third line of defense since the public perceived frauds detection and prevention as the internal auditors' responsibility (DeZoort & Harrison, 2018). The internal auditors' fraud risk judgment performance has been questioned. There are many scales to measure fraud risk judgment; however, they are mostly related to financial-statement-related frauds with external auditors as the targeted respondents and still lack those to measure fraud risk judgment of internal auditors. This paper aims to propose the scale for measuring the performance of internal auditors' fraud risk judgment. Since there are many internal auditors without accounting background, the fraud case should be developed to be more general, instead of financial-statement-related frauds. The study followed the best practice step by step in developing a scale proposed by Boateng, Neilands, Frongillo, Melgar-Quiñonez, and Young (2018). It involved 5 experts in developing and validating the items, 106 respondents in the exploratory factor analysis (EFA) and 202 respondents in the confirmatory factor analysis (CFA). All the required indicators in the steps were acceptable; therefore, we can conclude that the scale is valid and reliable. The scale was developed based on the fraud triangle theory; hopefully, it can contribute to providing alternative fraud risk judgment measurement for internal auditors.

      Keywords: Internal Auditing, Fraud Risk Judgment, Scale Development, Fraud Triangle, Exploratory Factor Analysis, Confirmatory Factor Analysis

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

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

      Acknowledgements: The Authors are grateful to Ministry of Higher Education for HICoE research funding, Accounting Research Institute and Faculty of Accountancy, Universiti Teknologi Mara Shah Alam, Malaysia and Faculty of Economics and Business, Universitas Indonesia, Indonesia, for all supports and resources.

      JEL Classification: M42, M14, M48

      Received: 28.10.2021
      Accepted: 25.02.2022
      Published online: 28.02.2022

      How to cite this paper: Julian, L., Johari, R. J., Said, J., & Wondabio, L. S. (2022). Fraud risk judgment measurement scale development [Special issue]. Journal of Governance & Regulation, 11(1), 303–311. https://doi.org/10.22495/jgrv11i1siart10

      2022-02-28T14:26:22Z
       
  • Moral licensing and corporate social responsibility: A systematic
           literature review and a research agenda
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      Moral licensing describes people's sense of ethical entitlement to morally questionable behavior after they have previously exhibited socially desired behavior. The objective of this review is to examine the concept of moral licensing in the corporate social responsibility (CSR) literature. To this end, we conducted a systematic literature review (SLR) covering the period from 2012 to 2021. First, our research explains why moral licensing is defined differently across CSR contexts. Second, we illustrate how CSR practices precede moral licensing and misconduct among top executives and employees (List & Momeni, 2021; Ormiston & Wong, 2013). Third, findings suggest that currently underexplored variables moderate the relationship between CSR and moral licensing, including the moral identity symbolization of CEOs and the style of CSR communication. Fourth, we suggest that very few studies have addressed these potentially negative effects of CSR. In conclusion, this review offers an initial overview on moral licensing, examines implications for practice, proposes extensions to existing theory, and sets an agenda for future research.

      Keywords: Moral Licensing, CSR, CSIR, Misconduct, SLR

      Authors' individual contribution: Conceptualization — J.F., J.H., N.V.J.H., L.M.K., Y.D.B., and R.L.; Methodology — J.F., J.H., N.V.J.H., L.M.K., Y.D.B., and R.L.; Formal Analysis — J.F., J.H., N.V.J.H., L.M.K., Y.D.B., and R.L.; Investigation — J.F., J.H., N.V.J.H., L.M.K., Y.D.B., and R.L.; Writing — Original Draft — J.F., J.H., N.V.J.H., and L.M.K.; Writing — Review & Editing — J.F., J.H., N.V.J.H., L.M.K., Y.D.B., and R.L.

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

      JEL Classification: M14, M50

      Received: 07.12.2021
      Accepted: 23.02.2022
      Published online: 25.02.2022

      How to cite this paper: Feldmann, J., Halfina, J., Heyn, N. V. J., Körber L. M., Bouzzine, Y. D., & Lueg, R. (2022). Moral licensing and corporate social responsibility: A systematic literature review and a research agenda [Special issue]. Journal of Governance & Regulation, 11(1), 296–302. https://doi.org/10.22495/jgrv11i1siart9

      2022-02-25T18:27:58Z
       
  • Sudden loss, corporate governance structure, and big bath behavior:
           Evidence from Egypt
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      This study investigates the effect of sudden loss on corporate governance structure (CGS), and its implications on earnings management technique “big bath” in the Egyptian context. A matched sample of 208 firm-year observations in the Egyptian Stock Exchange (EGX) has been examined. Using the same methodology as in Mulcahy and Donnelly (2015) and Cheng, Park, Pierce, and Zhang (2019), the difference-in-differences (DID) approach is applied to measure the response of CGS to sudden loss versus profit incident, while binary logistic regression is used to investigate big bath following. Results indicate a significant association of sudden loss on changes in the loss firms' CGS following the loss, although these changes do not significantly differ from those made by profit firms. This indicates that sudden loss may trigger changes in corporate governance (CG), but other conditions also play a role in evoking such changes. Results also show a significant positive association of sudden loss on increasing the likelihood of engaging in a big bath behavior. The findings of this study are expected to help Egyptian firms' managers to improve firms' performance and governance structure that lead to high-quality earnings and provide financial reports that rationalize investors' decisions. This study is the first to test the influence of sudden loss on CGS and link it to big bath in Egyptian setting.

      Keywords: Sudden Loss, Corporate Governance, Big Bath, DID Approach, Board of Director's Composition, Ownership Structure, Egypt

      Authors' individual contribution: Conceptualization — R.E.; Methodology — S.M.; Investigation — R.E.; Resources — S.M.; Writing — Original Draft — S.M. and R.E.; Writing — Review & Editing — S.M. and R.E.; Supervision — R.E.; Funding — S.M. and R.E.

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

      Acknowledgements: The authors would also extend their gratitude and appreciation to Prof. Abd-Elfattah Khalil, Prof. Amr Abd-Elbar, and Prof. Mohamed Hassan for their valuable comments who have helped carry out this research paper.

      JEL Classification: M410, G32, G34, L25

      Received: 14.10.2021
      Accepted: 22.02.2022
      Published online: 24.02.2022

      How to cite this paper: Mohamed, S., & Elbolok, R. (2022). Sudden loss, corporate governance structure, and big bath behavior: Evidence from Egypt [Special issue]. Journal of Governance & Regulation, 11(1), 284–295. https://doi.org/10.22495/jgrv11i1siart8

      2022-02-24T16:07:08Z
       
  • Signaling effect of fiscal reforms during political uncertainty: A game
           theory approach
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      This paper examines how rules and institutions and monetary-fiscal coordination setup impact welfare outcomes during political instability. Our theoretical model extends the analysis of Alesina and Tabellini (1987), Alesina and Gatti (1995), and Ferre and Manzano (2014) to examine the signaling content of the fiscal authority's decision to engage in a fiscal reform when the policymaker's preferences are private information. In a two-stage signaling game featuring a central banker, a government, and private agents, we examine the fiscal authority's decision to engage in a fiscal reform under a Nash game, a cooperative setup, and a model of Stackelberg leadership. Three main results: 1) rules and commitments contribute to decreasing time inconsistency; 2) the more control the fiscal authority has over monetary policy, the more undesirable welfare outcomes, especially during political instability; 3) central bank independence signals fiscal discipline and produces relatively more desired outcomes during times of political uncertainty. Nevertheless, even with low degrees of central bank independence, proper fiscal “rules” produce close outcomes of an independent central bank even under the dominance of a centralized political authority and can secure close welfare gains in terms of inflation and fiscal outcomes. We propose these theoretical findings for empirical examination in emerging countries with prevailing schemes of fiscal dominance and more dependence on discretionary interventions to secure growth rates and financing gaps. Such setups are argued to contribute to lowering welfare outcomes that could be reduced if proper fiscal rules were used as a substitute for low monetary independence.

      Keywords: Monetary-Fiscal Games, Political Uncertainty, Signaling, Fiscal Reforms, Central Bank Independence

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

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

      JEL Classification: C72, D60, D72, E58, E59, E63, H30, P41

      Received: 09.10.2021
      Accepted: 18.02.2022
      Published online: 22.02.2022

      How to cite this paper: El-Khishin, S., & Kassab, D. (2022). Signaling effect of fiscal reforms during political uncertainty: A game theory approach [Special issue]. Journal of Governance & Regulation, 11(1), 262–283. https://doi.org/10.22495/jgrv11i1siart7

      2022-02-22T14:04:53Z
       
  • Social economic outcomes of remittances from the diaspora and their role
           in managing the COVID-19 pandemic in the emerging economy
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      Migration and remittances in Kosovo are promoters of local economic development and have an important role in the economic well-being of citizens, as well as other aspects in financing and developing the economy through stimulation. This article will evaluate and assess using subjective research methodologies the impact of diaspora during the pandemic period time. Anytime was crucial for many citizens that depend on the remittances, according to this statement, we mention that diaspora has a major role also in economic development in general. So, the purpose of this paper is to define and deeply explain the socio-economic outcomes of diaspora during the pandemic of COVID-19. In this way, we have used two types of data, primary and secondary for further analysis where we have used different techniques such as descriptive, crosstab, and Chi-square, which we have analyzed and shown by using SPSS software. Also, our paper is based on Hamdi Hoti and Hoxha's (2018) and Jusufi and Ukaj's (2020) findings and suggests that remittances have always been one of the most important and stable sources of external financing for the country. This is very important for states such as the Republic of Kosovo.

      Keywords: Socio-Economic, Remittances Diaspora, SPSS, Chi-Square, COVID-19, Republic of Kosovo

      Authors' individual contribution: Conceptualization — H.H.; Methodology — H.H.; Investigation — H.H.; Resources — H.H. and E.K.; Writing — Original Draft — E.K.; Writing — Review & Editing — E.K.; Funding Acquisition — H.H.; Supervision — H.H.

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

      JEL Classification: F15, F18, M48, M52

      Received: 29.09.2021
      Accepted: 17.02.2022
      Published online: 21.02.2022

      How to cite this paper: Hoti, H., & Kurhasku, E. (2022). Social economic outcomes of remittances from the diaspora and their role in managing the COVID-19 pandemic in the emerging economy [Special issue]. Journal of Governance & Regulation, 11(1), 252–261. https://doi.org/10.22495/jgrv11i1siart6

      2022-02-21T13:26:46Z
       
  • Effects of a state subsidy programme in the small business sector: The
           case of the emerging market
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      This paper examines the effects of the state subsidy programme on the beneficiary's firm operating status in the small business sector. The state subsidy is a matching grant-funded programme to black small businesses in South Africa to improve their competitiveness within the mainstream economy. A cross-sectional time-series secondary dataset of 945 beneficiary firms from 2012 to 2016 was utilised in the study. Data were analysed using a descriptive, multiple comparison Scheffé test and binary logistic regression technique estimated at 95% confidence intervals level of significance. The findings revealed that the state subsidy programme is a pivotal contributor to the black firm's operating status; firms in the services and construction sectors show significant improvement in their operating status and had about twice the odds of being in operation compared to firms in the manufacturing and agricultural sectors. This study will assist state programme administrators and policymakers to realise the importance of the services sector, which emerged as a major driver of innovation in the growth of local economies (Kazekami, 2017). Neglecting the sector might be counterproductive in case of a similar programme in the future. This study is limited by scope as only one state subsidy programme in South Africa was studied which may not be enough to make an inference.

      Keywords: State Subsidy, Operating Status, Performance, Small Business, Services Sector

      Authors' individual contribution: Conceptualization — T.O.A.; Methodology — T.O.A.; Formal Analysis — T.O.A.; Investigation — T.O.A.; Writing — Review & Editing — T.O.A.; Supervision — N.B.; Funding Acquisition — N.B.

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

      JEL Classification: G3, O2, H42, J18

      Received: 18.09.2021
      Accepted: 15.02.2022
      Published online: 18.02.2022

      How to cite this paper: Aluko, T. O., & Booyse, N. (2022). Effects of a state subsidy programme in the small business sector: The case of the emerging market [Special issue]. Journal of Governance & Regulation, 11(1), 244–251. https://doi.org/10.22495/jgrv11i1siart5

      2022-02-18T10:38:47Z
       
  • The impact on bank profitability: Testing for capital adequacy ratio,
           cost-income ratio and non-performing loans in emerging markets
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      Following the methodology applied by Nguyen (2020), this paper tests for the potential impact of capital adequacy ratios on bank profitability in a Jordanian context by using static panel data for a sample of 24 banks covering the period 2008–2018. Furthermore, the study examines the viability of various potential determinants of profitability led by primary bank-specific variables: cost-income ratio, bank size, debt ratio, and non-performing loans. The main objective is to assess if and how capital adequacy ratios have had any measurable effects along with other bank-specific variables on bank profitability that is determined by the return on assets (ROA) and return on equity (ROE). The study's main takeaway is that ROA is negatively correlated with the four capital adequacy ratios. However, mixed results are observed when ROE is used as a proxy for bank profitability. ROE is positively affected by both core capital to risk-weighted assets ratio and total capital to risk-weighted assets ratio. On the contrary, ROE is negatively affected by the core capital to total assets ratio and total equity capital to total assets ratio. It can be argued that the most significant finding in this paper is that the impact on bank profitability differs according to the proxy used for capital adequacy. Furthermore, the cost-income ratio is inversely related to both bank profitability measures and both bank profitability measures are inversely affected by the non-performing loan ratio.

      Keywords: Bank Capital Adequacy, Bank Profitability, Basel II

      Authors' individual contribution: Conceptualization — A.A.A.-S.; Methodology — A.A.A.-S.; Investigation — A.A.A.-S.; Resources — A.A.A.-S. and T.A.A.-S.; Writing — Review & Editing — A.A.A.-S. and T.A.A.-S.; Supervision — A.A.A.-S.

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

      JEL Classification: G2, G21, G28, E51

      Received: 13.09.2021
      Accepted: 14.02.2022
      Published online: 17.02.2022

      How to cite this paper: Al-Sharkas, A. A., & Al-Sharkas, T. A. (2022). The impact on bank profitability: Testing for capital adequacy ratio, cost-income ratio and non-performing loans in emerging markets [Special issue]. Journal of Governance & Regulation, 11(1), 231–243. https://doi.org/10.22495/jgrv11i1siart4

      2022-02-17T15:16:44Z
       
  • The legal governance of online learning and the higher education
           institutions approach in the developing country
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The purpose of the study is to examine the legal framework governing online learning in higher education in Kosovo and harmonization with accreditation standards, professional licensing bodies, and copyrights laws (Frydenberg, 2002; Davis, Dowd, Poulin, & Silverman, 2020) and evaluate the transformation process from in-campus classes to online classes from the technical perspective within five higher education institutions (HEI) in Kosovo such as faculty support, redesign of learning outcomes, and assessment strategies (Martin, Polly, Jokiaho, & May, 2017; Coates & Lennon, 2014; Johnson, Veletsianos, & Seaman, 2020). The present study uses qualitative research methodology. The qualitative research method analyzes laws, standards, and other by-laws in Kosovo to examine the legal clauses governing the delivery of online teaching in Kosovo. The study analyzes the Kosovo Law on Higher Education, Accreditation Directive, accreditation manual and standards, and strategic documents of the Ministry of Education, Science and Technology of Kosovo. Further, the present study uses discussions and interviews with the homogenous purposive sample of stakeholders within five HEIs in Kosovo. The present study finds that the actual legal framework in Kosovo lacks clarity and standardization and offers liberty for self-governance and independence to universities to decide on online education. Also, results show that Kosovo universities are at the outset of transformative processes towards online education such as faculty support, the adaption of didactics, course redesign, and the adaptation of assessment policy. So, the present study paves the way for better regulation of online learning within the Law on Higher Education and various administrative directives governing the accreditation of HEI and their study programs and modes of delivery. The present paper represents the first qualitative study of legal and institutional governance of online learning in Kosovo.

      Keywords: Online Education, Higher Education, Legal Framework, Standardization, Kosovo

      Authors' individual contribution: Conceptualization — J.X.; Methodology — V.H.; Formal Analysis — J.X.; Investigation — J.X. and Q.B.; Writing — Original Draft — J.X. and Q.B; Writing — Review & Editing — J.X., V.H., and Q.B.

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

      Acknowledgements: This research is supported and granted by the Ministry of Education, Science and Technology in Kosovo and the Program for Support of Scientists in Short-Terms Projects.

      JEL Classification: K39

      Received: 08.09.2021
      Accepted: 11.02.2022
      Published online: 15.02.2022

      How to cite this paper: Xhafaj, J., Hoxha, V., & Beka, Q. (2022). The legal governance of online learning and the higher education institutions approach in the developing country [Special issue]. Journal of Governance & Regulation, 11(1), 223–230. https://doi.org/10.22495/jgrv11i1siart3

      2022-02-15T13:02:53Z
       
  • The impact of trade liberalisation on mining sector total factor
           productivity: Evidence from developing countries
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      While the paradox of plenty is given much weight on raging debates on resource endowment and growth path of the Southern Africa Development Community (SADC) countries. The study seeks to establish the effect of trade liberalisation on mining total factor productivity. The study employed panel data of selected seven countries from the SADC for the period 1990–2017. The countries in the sample include Botswana, South Africa, Tanzania, Namibia, Zimbabwe, the Democratic Republic of the Congo (DRC), and Zambia, and were chosen based on data availability. Hicks-Moorsteen productivity index was applied to generate the total factor productivity change. A panel auto regressive distributed lag model (PARDL) and pooled mean group (PMG) are the estimation techniques used. The inquiry is crucial to SADC because mining production is a source of foreign exchange that directly contributes to economic growth. However, with open economies of SADC study expects the easy flow and diffusion of technology to aid productivity in the mining sector (Griffith, Redding, & Van Reenen, 2014). Results indicate a positive and statistically significant long-run relationship between trade openness and total factor productivity change in the mining sector. The study recommends progressive trade openness in the mining sector, human capital development, research and development to augment technology transfer.

      Keywords: Panel Auto-Regressive Distributed Lag, Pooled Mean Group, Trade Liberalisation, Total Factor Productivity Change, Hicks-Moorsteen Index

      Authors' individual contribution: Conceptualization — S.M.M.; Methodology — S.M.M.; Writing — S.M.M.; Investigation — S.M.M.; Funding Acquisition — I.C.; Resources — I.C.; Supervision — I.C.

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

      JEL Classification: C33, L71, Q32, Q37, Q38

      Received: 21.09.2021
      Accepted: 10.02.2022
      Published online: 14.02.2022

      How to cite this paper: Choga, I., & Mufandaedza, S. M. (2022). The impact of trade liberalisation on mining sector total factor productivity: Evidence from developing countries [Special issue]. Journal of Governance & Regulation, 11(1), 211–222. https://doi.org/10.22495/jgrv11i1siart2

      2022-02-14T15:01:57Z
       
  • Corporate governance mechanisms and earnings quality: Is firm size a
           moderation variable'
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The main objective of this research is to analyze the influence of independent commissioner, audit committee, managerial ownership, and institutional ownership on earnings quality. This study also observes the role of a firm's size as a moderating variable. Using specific considerations, the number of the sample is reduced to 20 out of 144 companies from manufacturing companies listed in the Indonesian Stock Exchange during 2013–2016. The data analysis in this research used moderating regression. The results show that managerial ownership affects positively toward quality of the earnings. The firm's size has proven to be able to strengthen the influence of managerial ownership and institutional ownership on earnings quality. Overall, this study reveals that the implementation of good corporate governance has been obliged by the government, but the supervisory function has not been executed optimally so it is not fully able to affect earnings quality. The results of this study contribute to both investors and potential investors in investment decisions. This paper suggests considering managerial and institutional ownership and company size since the variable is proven to be able to improve earnings quality.

      Keywords: Earning Quality, Cash Flow, Firm Size, Audit Committee, Independent Commissioner, Institutional Ownership, Managerial Ownership, Corporate Governance

      Authors' individual contribution: Conceptualization — B.S.; Methodology — A.W.; Software — N.N.I. and A.H.; Validation — B.S. and M.A.S.A.-F.; Formal Analysis — B.S. and A.W.; Investigation — B.S.; Resources — M.A.S.A.-F., N.N.I., and A.H.; Data Curation — N.N.I. and A.H.; Writing — Review & Editing — M.A.S.A.-F.; Visualization — C.-M.S.; Supervision — C.-M.S.

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

      JEL Classification: G32, G38, M41, M48

      Received: 22.07.2021
      Accepted: 09.02.2022
      Published online: 11.02.2022

      How to cite this paper: Solikhah, B., Wahyudin, A., Al-Faryan, M. A. S., Iranda, N. N., Hajawiyah, A., & Sun, C.-M. (2022). Corporate governance mechanisms and earnings quality: Is firm size a moderation variable? [Special issue]. Journal of Governance & Regulation, 11(1), 200–210. https://doi.org/10.22495/jgrv11i1siart1

      2022-02-11T11:51:58Z
       
  • Editorial: Corporate governance trends in emerging and developing
           countries
    • "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 February 9, 2022.

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

      How to cite: Magli, F. (2022). Editorial: Corporate governance trends in emerging and developing countries. Journal of Governance and Regulation, 11(1), 4–6. https://doi.org/10.22495/jgrv11i1editorial

      2022-02-09T08:29:25Z
       
  • The drivers of the project of finance interest rate in the ASEAN-4
           countries
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      This paper highlights the significant aspects of the project finance theme in terms of the prospective return of the infrastructure project, the risk mitigation feature of project finance in addressing various risks, and future stability requirements in achieving the future country growth target through infrastructure investment. This paper attempts to investigate the determinants of the total interest rate charged on project finance. We found that the critical risk factor does not affect the interest rate, because the critical risk factor with the proxy of political stability and government effectiveness does not affect the interest of project financing loans due to the characteristics of ASEAN-4 countries.

      Keywords: Interest Rate, IPP, LIBOR, Loan Margin, Private Sector Participation, Project Finance

      Authors' individual contribution: Conceptualization — E.N., S., G.S.S.U., and E.H.; Methodology — E.N., S., G.S.S.U., and E.H.; Validation — S., G.S.S.U., and E.H.; Formal Analysis — S., G.S.S.U., and E.N.; Investigation — S., G.S.S.U., and E.N.; Writing — Original Draft — E.N.; Writing — Review & Editing — E.N.; Visualization — E.N.; Project Administration — S., G.S.S.U., and E.H.; Supervision — S., G.S.S.U., and E.H.

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

      JEL Classification: H54, E43, O22

      Received: 20.03.2021
      Accepted: 02.02.2022
      Published online: 04.02.2022

      How to cite this paper: Nasution, E., Sugiarto, Ugut, G. S. S., & Hulu, E. (2022). The drivers of the project of finance interest rate in the ASEAN-4 countries. Journal of Governance & Regulation, 11(1), 176–189. https://doi.org/10.22495/jgrv11i1art16

      2022-02-04T15:50:45Z
       
  • Managerial ownership and executive compensations: Interaction and impact
           on earnings management practices in an emerging economy
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The study aimed to examine the relationship between executive compensations and earnings management. Also, it investigates whether managerial ownership influences that relation for the non-financial firms listed in Amman Stock Exchange (ASE) during the period 2010–2019. The study provides evidence that firms with a higher level of executive compensations are associated with a low level of earnings management practices. Results also show that the mitigating role of executive compensations is moderated in firms with managerial ownership, and executive compensations level in firms with managerial ownership is unlikely to be effective. In an attempt to maximize the personal interest, managers with sufficient ownership managed earnings in an opportunistic way to exploit the minority interest through taking advantage of the compensations contracts loopholes.

      Keywords: Earnings Management, Discretionary Accruals, Executive Compensations, Managerial Ownership, Amman Stock Exchange

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

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

      JEL Classification: G3, G32, M41, J33, M12

      Received: 28.09.2021
      Accepted: 31.01.2022
      Published online: 03.02.2022

      How to cite this paper: Abu-Serdaneh, J., & Ghazalat, A. (2022). Managerial ownership and executive compensations: Interaction and impact on earnings management practices in an emerging economy. Journal of Governance & Regulation, 11(1), 163–175. https://doi.org/10.22495/jgrv11i1art15

      2022-02-03T15:49:02Z
       
  • The impact of experience and age of board members on profitability and
           efficiency: Evidence from state enterprises and parastatals in emerging
           markets
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      Chiri (2017) described Zimbabwe's state enterprises and parastatals (SEPs) as a burden to the fiscus. The article seeks to determine the effect of board member experience and age on profitability and efficiency of SEPs, respectively, as there has been little research, particularly in emerging markets. A positivist paradigm was adopted using a cross-sectional survey. The target population of the study consisted of all SEPs totalling 107 from which a sample of 20 SEPs was selected from the clusters using the simple random sampling technique. The Likert scale questionnaire was administered to respondents from the line ministry and targeted SEPs. The categorical principal component analysis was used as the main data analysis method. The value from Kaiser–Meyer–Olkin (KMO) and Bartlett's test of sphericity and Cronbach's alpha proved that the data obtained from the sample was adequate and reliable. A simple ANOVA conducted obtained a significance value of 0.000 leading to acceptance of both hypotheses because of p-value (0.000) < 0.001. The article concludes that board experience is a critical determinant of profitability and a positive relationship between the age of board members and SEPs efficiency exists. A policy framework on diversity in experience and age of board members should be enforced. The study is critical since SEPs occupy strategic sectors of the economy yet their contribution to gross domestic product continued to drop (World Bank, 2017).

      Keywords: Emerging Markets, Experience of Board Members, Age of Board Members, Profitability, Efficiency, Performance of State Enterprises and Parastatals

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

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

      JEL Classification: M19, D73, G34

      Received: 28.09.2021
      Accepted: 25.01.2022
      Published online: 28.01.2022

      How to cite this paper: Maibvisira, G., Muregwi, H. N., & Mutambara, E. (2022). The impact of experience and age of board members on profitability and efficiency: Evidence from state enterprises and parastatals in emerging markets. Journal of Governance & Regulation, 11(1), 152–162. https://doi.org/10.22495/jgrv11i1art14

      2022-01-28T11:29:06Z
       
  • The influence of data mining on accounting information system performance:
           A mediating role of information technology infrastructure
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The current study aimed at examining the influence of data mining (information and communication technologies (ICTs), knowledge management (KM), data warehousing (DW), and data mining (DM) on performance and outcomes of accounting information system (AIS) application through a mediating role of information technology (IT) infrastructure. Through adopting a quantitative approach, a questionnaire was distributed on 143 individuals working within food manufacturing organizations in Jordan; primary data were screened and analyzed depending on SPSS version 27. Results of the study matched what came along with Zhang (2021) and indicated that there is a positive relationship between data mining and AIS performance in terms of the fact that data mining along with its strategies (prediction, classification, collecting, and distributing) had the ability to ease the process of managing huge amount of data and transfer it to AIS application for better processing in accounting means. However, this relationship, as according to Kim (2020), was attributed to a well-built IT infrastructure that appeared to be the main and most important aspect that played a role in determining the level of performance of both data mining and AIS applications. In conclusion, the current study summed up that adopting technology means generating more data, the more data an organization gets the more it needs to improve its data organization, storage, classification, and analysis. This can only come from organizational vigilance and total awareness of technology and how it can improve organizational ability to generate well-built information that helps in decision-making.

      Keywords: Data Mining, AIS, Accounting Performance, Classification, IT Infrastructure, Prediction

      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, G3, M4

      Received: 08.10.2021
      Accepted: 21.01.2022
      Published online: 26.01.2022

      How to cite this paper: Qatawneh, A. (2022). The influence of data mining on accounting information system performance: A mediating role of information technology infrastructure. Journal of Governance & Regulation, 11(1), 141–151. https://doi.org/10.22495/jgrv11i1art13

      2022-01-26T13:43:14Z
       
  • Optimizing access to external finance by small and medium-sized enterprise
           start-ups: Towards the development of a conceptual framework
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      This study aims to experimentally analyse how start-up awareness, management skills, and financial providers' requirements relate to the key drivers of business success. A framework has been developed to increase start-ups' capacity to obtain external financing (Bamata, 2019). Data were collected by a simple random sample from a survey of 253 SMEs in Pietermaritzburg, South Africa. Data analyses from the questionnaire using the statistical program SmartPLS were carried out utilizing descriptive and inferential analyses and structural equation modelling. It was shown that start-up awareness and management skills positively affect SMEs' access to government, corporate, and personal/social sources of financing. Seven hypothetical connections were evaluated, and the results were obtained. The suggested framework maps the entrepreneurial awareness and management abilities of a start-up entrepreneur with funding provider needs and gives an idea of the type and optimum funding choices to be applied for the company (Bamata, Govender, & Fields, 2019). By utilising this framework, SME owner-managers would become aware of their financing needs and be ready to choose the most suitable source of external finance.

      Keywords: Entrepreneur, Entrepreneurship, New Enterprise, New Firm Growth, Start-Up, Start-Up Financing, Management Skills, Start-Up Awareness

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

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

      JEL Classification: M130, M530, M210

      Received: 26.07.2021
      Accepted: 20.01.2022
      Published online: 25.01.2022

      How to cite this paper: Bamata, N. H., & Phiri, M. A. (2022). Optimizing access to external finance by small and medium-sized enterprise start-ups: Towards the development of a conceptual framework. Journal of Governance & Regulation, 11(1), 125–140. https://doi.org/10.22495/jgrv11i1art12

      2022-01-25T13:56:37Z
       
  • Privatization in post-war Kosovo: Legal review
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The main purpose of this paper is to analyze privatization in Kosovo as a complex legal process of redistribution of social wealth to private individuals or certain enterprises. The privatization process in Kosovo cannot be compared with the privatizations of countries in the region due to its economic and political specifics, as a country with economies in transition and high levels of corruption (Borošak, 2018). To study this phenomenon, we will analyze the data published by the complaints received from the Kosovo Trust Agency (KTA) the decisions of the Special Chamber as well as the judgments of the Special Chamber for human rights. Data analysis concludes on descriptive statistics, analysis of domestic laws, and regulations of the United Nations Interim Administration Mission in Kosovo (UNMIK), reports from the World Bank, processed cases, and Special Chamber court decisions on privatizations. The study concludes that the process of privatization of socially owned property has caused conflicts between the descendants as property owners before their confiscation, privatization has further destroyed the country's economic development rather than improving the well-being and lives of its citizens. This paper is of great importance for policy makers, officials, scholars as the processing, publication of data, and sanctioning will enable this phenomenon that has become a new way of enrichment to be stopped and the state to be built for society and to belong to society.

      Keywords: Privatization, Socially Owned Enterprises, Kosovo Privatization Agency, Special Chamber, Legislation, Regulations, UNMIK

      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: K10, K20, K30

      Received: 13.09.2021
      Accepted: 18.01.2022
      Published online: 21.01.2022

      How to cite this paper: Ibraimi, X. (2022). Privatization in post-war Kosovo: Legal review. Journal of Governance & Regulation, 11(1), 112–124. https://doi.org/10.22495/jgrv11i1art11

      2022-01-21T13:20:09Z
       
  • A discourse analysis of career experiences of women in the developing
           country
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The efforts to reduce the widened effects of structural inequality for women in South Africa have resulted in varied experiences (Burns, Tomita, & Lund, 2017). The study problematised the unresearched and not well articulated social construct within the career experiences of women working in a telecommunication company in South Africa. This article argues that the meaning ascribed to the socio context and equity policy can better describe the dimension of the broader issue of gender inequality in post-apartheid South Africa. The study contributes to discourse analysis methods where discourse analysis was used to explain the experiences of three women who are senior managers with at least ten years of experience. The discourse-based understanding of the experiences of women in this study was reframed into and within the interactions of equity policy deliberation, societal factors and the organisational context model. These interactions allowed interpretation of the career choice for women and what it means for personal development. The model of career experience depicts strong alternative views on a career path for women. The results of this study provide unique findings for justice regulation in the workplace for women in South Africa.

      Keywords: Discourse Analysis, Career, Women, Experience, Workplace, South Africa

      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: J16, 124, 125

      Received: 08.09.2021
      Accepted: 17.01.2022
      Published online: 20.01.2022

      How to cite this paper: Dosunmu, A. G. (2022). A discourse analysis of career experiences of women in the developing country. Journal of Governance & Regulation, 11(1), 100–111. https://doi.org/10.22495/jgrv11i1art10

      2022-01-20T14:36:14Z
       
  • Bibliometric analysis of foreign exchange risk
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      In this study, we have focused our attention on foreign exchange risk as it has gained the attention of many researchers all around the globe. In addition, the increased foreign exchange in the process of globalization significantly impacts the profitability and operations of enterprises (Nor, Masron & Alabdullah, 2020) making it essential to understand the topic in greater depth. Thus, the main purpose of the paper is to understand the contribution that was made regarding this topic. This study thus employed the bibliometric analysis to evaluate the literature on foreign exchange risk. Bibliometric analysis is a statistical approach used to represent developments in a research topic and identify future research directions (Chen & Yang, 2021). The bibliometric analysis was based on 487 documents spanning from 1969 to 2020. The visualization and content analysis results showed that the literature on foreign exchange risk has been growing, and a great deal of it has shown that foreign exchange risk significantly affects the overall performance of both local and multinational corporations. Many papers also concluded that an understanding of foreign exchange risk by investors and businesses can greatly affect their holdings. Based on this study's exploration of current research streams in the field, directions for future research are proposed.

      Keywords: Foreign Exchange Risk, Forex, Bibliometrics, Visualization, Performance

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

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

      JEL Classification: G10, G15, G19, G32

      Received: 17.08.2021
      Accepted: 14.01.2022
      Published online: 18.01.2022

      How to cite this paper: Nobanee, H., Shanti, H. Z., Dilshad, M. N., Alzaabi, F., Alkindi, S., Alhammadi, J., & Alnaqbi, M. (2022). Bibliometric analysis of foreign exchange risk. Journal of Governance & Regulation, 11(1), 86–99. https://doi.org/10.22495/jgrv11i1art9

      2022-01-18T14:06:05Z
       
 
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