This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

The purpose of this work is to analyze a performing model of process management in a state of emergency in the airport sector. This work reveals the Torino airport model for crisis management realized to ensure the continuation of activities during the beginning of the COVID-19 pandemic. The case study has been analyzed by means of the innumerable measures carried out and included in the operational continuity plan (OCP) of Torino airport (ital. Aeroporto di Torino-Caselle) in Turin, a specific plan aimed to satisfy the exigencies of passengers, the commercial relationship with sub-dealers and commercial partners as well as all the human resources working in the airport during the pandemic spread. The analysis focused on internal documents, reports sent to Airports Council International Europe (ACI EUROPE) to compete in the international competition, and public economic and financial reports as well. The findings help to demonstrate not only the model adopted but also the perfect interaction between all the involved corporate sections of the Torino Airport aimed at a main objective: the continuation of activities as well as the safety and satisfaction of stakeholders. For its theoretical and practical evidence, the paper expresses both scholarly and professional relevance.

Keywords: Governance, Crisis Management, Corporate Social Responsibility, Regulations, Innovation Management, Airport Sector

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: M1, M14, M15

Received: 06.02.2023
Accepted: 20.09.2023
Published online: 22.09.2023

How to cite this paper: Rangone, A. (2023). Best practice in crisis management during COVID-19 emergency: A case study from the airport sector [Special issue]. Journal of Governance & Regulation, 12(3), 345–356. https://doi.org/10.22495/jgrv12i3siart16

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

Fraudulent financial reporting is a big issue not only for investors but also for other stakeholders. This research uses two popular fraud detection models by Beneish (1997, 1999a) and Dechow et al. (2011). The main goal of this paper is to compare the precision of these two models for the prediction of fraud in the financial statements of Iranian companies. Firstly, we try to identify the statistical description related to the first and fourth quartiles of the Beneish and Dechow models. Then, we determine the models' forecasting capabilities using SPSS software by t-test and variance analysis. We use the sample of 197 companies during the 11-years period from 2009 till 2019. The results indicate that the Beneish model has more precision and less error level in fraud detection in the financial statements than the Dechow model. The general precision of the Beneish model, with 83%, compared to the Dechow model, with general precision of 75%, demonstrates the volume of fraud in the company's financial statements. According to the statistical results, the prediction precision of the Beneish model, compared to the Dechow model, is more, and its estimation error is less than the latter. Therefore, according to this hypothesis, the Beneish model enjoys a higher detection power in the probability of committing fraud in the financial statements than the Dechow model. Thus, in companies with a previous record of earnings management, there is the probability of committing fraud in the financial statements. It is possible to detect fraud more easily by the Beneish model. The findings of Beneish (1999b) research, Jones et al. (2008), Dechow et al. (2011), and Perols and Lougee (2011) confirm the result obtained from this hypothesis.

Keywords: Beneish Model, Fraudulent Financial Reporting, Dechow Model, Disclosure of Information

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

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

JEL Classification: G1, M4, M21

Received: 04.02.2023
Accepted: 18.09.2023
Published online: 20.09.2023

How to cite this paper: Kaab Omeir, A., Vasiliauskaite, D., & Soleimanizadeh, E. (2023). Detection of financial statements fraud using Beneish and Dechow models [Special issue]. Journal of Governance & Regulation, 12(3), 334–344. https://doi.org/10.22495/jgrv12i3siart15

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

Sustainability aspects are assuming a key role both in investment decisions and in credit assessment processes. The aim of this research is to investigate the relationship between environmental, social and governance (ESG) variables and credit rating. We conduct an analysis on a sample of 1191 US-listed companies in 2021. We collect S&P credit ratings on Thomson Refinitiv and we regress ESG variables, and the sub-categories of each pillar E/S/G, against credit rating, along with common firm-specific factors affecting credit risk. The result highlights a direct relationship between ESG performance and credit ratings, confirming previous literature (Apergis et al., 2022; Devalle et al., 2017). Companies with good ESG scores achieve better credit ratings of up to three points. Particularly, good social performance is significantly associated with better credit ratings. However, the empirical analysis shows that the current integration of ESG parameters into credit rating assignment processes is only at an early stage because it is still difficult to quantify the impact of these factors by separating them from economic and financial indicators. This study updates previous research with a larger sample and paves the way for improving and strengthening ESG research on environmental, social and governance performance issues. Managers should promote an effective ESG policy and, in particular, social practices to improve a firm's creditworthiness, while regulators should unify the ESG evaluation criteria for credit rating agencies.

Keywords: ESG Performance, Capital Structure, Rating, Cost of Debt

Authors' individual contribution: Conceptualization — A.G. and V.C.; Methodology — A.G. and V.C.; Investigation — L.P.; Writing — A.G. and V.C.; Supervision — O.R.

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

JEL Classification: G11, G12, G32, G34, M14, Q56

Received: 21.07.2023
Accepted: 18.09.2023
Published online: 20.09.2023

How to cite this paper: Cioli, V., Giannozzi, A., Pescatori, L., & Roggi, O. (2023). Are environmental, social and government factors incorporated in the credit ratings? Risk Governance and Control: Financial Markets & Institutions, 13(3), 22–32. https://doi.org/10.22495/rgcv13i3p2

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

This study analyzed the compliance of non-salaried participants, in paying the monthly premium of the National Health Insurance (known as Jaminan Kesehatan Nasional, JKN) in Indonesia. The sustainability of this program is essential to realize universal health coverage (UHC) in the country, and its success heavily relies on the compliance of its participants in paying the premiums. Non-salaried workers constitute a membership category with a lower level of compliance in paying premiums compared to salaried workers and premium contribution beneficiaries. This study used the logit regression method and revealed significant findings. Specifically factors such as age, income stability, payment point, decision maker, and distance to health facilities were found to be associated with the compliance of private participants in paying the monthly premium of the JKN program. The study identified that older age is linked to higher compliance, and having a stable monthly income increases the probability of payment. Respondents who utilize bank auto-debit services for payments exhibit a higher level of compliance compared to those who make payments at modern mini-markets or e-commerce platforms. The joint decision-making by both spouses to participate in the JKN Program leads to higher compliance compared to decisions made solely by one spouse. Furthermore, the study discovered that a greater distance to health facilities corresponds to an increased likelihood of compliance in paying the monthly premium.

Keywords: Premium, Compliance, Non-Salaried Participants, National Health Insurance, Logit Regression

Authors' individual contribution: Conceptualization — N.I.; Methodology — I.Z.; Validation — I.Z.; Formal Analysis — N.I.; Investigation — N.I. and I.Z.; Data Curation — N.I.; Writing — N.I. and I.Z.; Supervision —I.Z.

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

JEL Classification: I13, I18, H51

Received: 07.12.2022
Accepted: 18.09.2023
Published online: 20.09.2023

How to cite this paper: Istiqomah, N., & Mafruhah, I. (2023). Determinants of payment compliance of the national health insurance among non-salaried participants. Corporate & Business Strategy Review, 4(4), 54–61. https://doi.org/10.22495/cbsrv4i4art6

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

Microfinance is an important component of the entrepreneurship ecosystem (Iansiti & Levien, 2004). This research explores prominent microfinance models and introduces leading microfinance institutions, in a certain format, practicing these models across the globe. Using primarily qualitative methods of investigation, it then identifies the use of microfinance by different organizations in Saudi Arabia. The study contributes a model of microfinance in Saudi Arabia upon the contemporary conventions, procedures, and practices (Saudi Arabian microfinance model, SAMFIN). It would assist the microfinance landscape and practices of leading institutions. Eventually, the study would ascertain and pinpoint the challenges and opportunities for the Saudi Arabian entrepreneurship ecosystem stakeholders to introduce the changes and additions required to make the Saudi microfinance landscape more dynamic, and vibrant, and contribute to and satisfy the community needs. Also provided is a brief impact of the Saudi Vision 2030. This work would offer guidance and learning for practitioners, lenders, borrowers, and academics alike both in and outside the country. It can be concluded that the loan limit in Saudi Arabia is substantially high and equals $2666; the microfinance in Saudi Arabia is evolving and the differences identified and discussed above imply that the SAMFIN and global models are quite different in approach and modalities.

Keywords: Entrepreneurship Ecosystem, Microfinancing, Saudi Arabia, Microfinance Institutions, Microfinance Models

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: G21, G38, L26, R51

Received: 21.12.2022
Accepted: 15.09.2023
Published online: 19.09.2023

How to cite this paper: Rahatullah, M. K. (2023). Saudi Arabian entrepreneurship ecosystem and microfinance. Corporate & Business Strategy Review, 4(4), 43–53. https://doi.org/10.22495/cbsrv4i4art5

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

The main objective of this study is to identify and analyze funding for tourism development in Kosovo through grants, legal infrastructure, and tourism staff training. A field survey was done to supplement this work, and the data was examined utilizing comparative and empirical analysis. The study was conducted in 2022, but administrative data in the field of tourism from 2010 to 2020 were also used for this study. According to the conclusions of the study, financial help in the form of grants, training, and tourism-related training was insufficient. The total number of visitors was 40,390, with 37.05 percent being local and 62.95 percent being foreign (Agjencia e Statistikave të Kosovës [ASK], 202a). In terms of gross domestic product (GDP), based on economic activities at current prices, the hotel and tourism sector contributed approximately 163 million euros in 2021, or 2.1 percent of GDP (ASK, 2022b). The problem of tourism development in Kosovo is linked to the country's economic development, with the efficient management of tourism development policies and strategies. The study recommends that tourism policymakers and strategies create more sustainable management of tourism policies to attract a larger number of visitors to Kosovo, etc.

Keywords: Tourism Economics, Management, Tourism and Development, Tourism Finance and Correlation

Authors' individual contribution: Conceptualization — H.B. and B.B.; Methodology — B.B. and M.M.; Formal Analysis — B.B.; Investigation — H.B.; Writing — Original Draft — B.B. and M.M.; Writing — Review & Editing — H.B. and B.B.

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

JEL Classification: Z3, M1, Z320, Z330, C1

Received: 05.01.2023
Accepted: 15.09.2023
Published online: 19.09.2023

How to cite this paper: Bajrami, H., Bellaqa, B., & Mehmeti, M. (2023). Financing and staff training in tourism: A case study in the developing country [Special issue]. Journal of Governance & Regulation, 12(3), 324–333. https://doi.org/10.22495/jgrv12i3siart14

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

The main aim of this empirical paper is to examine the impact of board size and gender diversity on the firm value of 354 non-financial firms listed on the Gulf Cooperation Council (GCC). The vital importance of this paper is to shed light on the presence of female directors on the boards of directors in the GCC. This empirical paper applied several estimation techniques such as ordinary least squares (OLS) and panel regression (fixed & random effect) on a dataset that is extracted from the Refinitiv Eikon platform for the period 2010–2022. This investigation controlled for firm age, firm size, profitability, and leverage in the model developed. The significant result of the Hausman test approved the results of the fixed effect model which reveals that gender diversity, firm size, profitability, leverage, and board size significantly positively impact the firm value, unlike the firm age which appeared to be statistically insignificant. The results imply that the larger the board size and the higher the presence of women on the boards of directors in the GCC region, the better the profitability. This indeed recommends the decision takers include more members especially women in the decision-making process.

Keywords: Firm Value, Fixed Effect, Gender Diversity, Board Size, Firm Size, Profitability, Leverage, Tobin's Q

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

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

JEL Classification: C01, C23, G20, G30, G31, G32, G34, G38

Received: 01.05.2023
Accepted: 13.09.2023
Published online: 15.09.2023

How to cite this paper: Awad, A. B., Khalaf, B. A., & Afzal, A. (2023). The power of board size and gender diversity on the value of companies listed on emerging markets. Corporate Law & Governance Review, 5(2), 128–139. https://doi.org/10.22495/clgrv5i2p14

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

A newly started business entity has various kinds of difficulties, complexities, and risks (Trimi & Berbegal-Mirabent, 2012), the risks faced by startups include markets, products, competitiveness, employees, and finances (Paternoster et al., 2014). The purpose of this study is to analyze what factors contribute to the demise of startups in Banyumas. The participants in this study were resourceful startup actors in Banyumas. Data was collected through focus group discussions and questionnaires. Data were analyzed descriptively and qualitatively using an analytical hierarchy process (AHP), strengths-weaknesses-opportunities-threats (SWOT) analysis, and quantitative strategic planning matrix (QSPM). Based on the results of the AHP analysis, there were four main problems: background, competence, communication infrastructure, and security. Furthermore, it could be seen from SWOT and QSPM analysis that each SO (Strengths-Opportunities) strategy value was 152, WO (Weaknesses-Opportunities) was 100, ST (Strengths-Threats) was 148, and WT (Weaknesses-Threats) was 144. The conclusion was digital startup sustainability problems could be resolved by prioritizing the SO strategy. The implementation of these strategies included optimizing young workers, collaborating with supporting communities, and creating unique products. Apart from practical implications, this paper also develops literature on the factors that cause startup failure, which so far has been limited to discussing only the success factors.

Keywords: Sustainability, AHP, SWOT, QSPM, Startup Problems

Authors' individual contribution: Conceptualization — D.P.J., S., and W.N.; Methodology — D.P.J., S., and W.N.; Formal Analysis — D.R.F.; Writing — Original Draft — D.R.F.; Writing — Review & Editing — D.R.F.; Supervision — D.P.J., S., and W.N.; Project Administration — D.P.J., S., and W.N.

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

JEL Classification: C44, C54, M13, M21, Q01

Received: 02.01.2023
Accepted: 12.09.2023
Published online: 15.09.2023

How to cite this paper: Jati, D. P., Suliyanto, Novandari, W., & Fauzi, D. F. (2023). Startup sustainability issues: An analytical hierarchy process (AHP) method and quantitative strategic planning matrix (QSPM). Corporate & Business Strategy Review, 4(4), 32–42. https://doi.org/10.22495/cbsrv4i4art4

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

Infrastructure acts as a catalyst for human and economic development and is critical to the general functioning of a society. It defines a country's international competitiveness and creates jobs (Chen, 2018). However, in Sub-Saharan Africa (SSA), it is well documented that, in terms of the most common measures of infrastructure development, the region typically lags behind most developing regions (Calderon et al., 2018). Although the region is abundantly rich in natural resources, with discoveries being continuously made, the lack of infrastructure remains one of the significant obstacles to sustaining economic development in the region. Given the constraints on traditional sources of infrastructure finance, resources-for-infrastructure (R4I) deals present one of the most promising financing techniques for bridging the infrastructure gaps in SSA (Halland et al., 2014). Its potential use, however, begs the question of whether R4I deals guarantee remunerative returns by ensuring the mutuality of benefits between host nations and foreign developers. In answering this question, we used a theoretical or doctrinal approach. Although certain aspects of R4I deals as a financing mechanism are flawed, this mechanism can be leveraged to address the huge infrastructure deficit in the region. This paper thus informs policymakers on the aspects of R4I deals that need reform.

Keywords: Resources-For-Infrastructure, Infrastructure, Natural Resources, Financing Techniques, Sub-Saharan Africa

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

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

JEL Classification: K39

Received: 17.11.2022
Accepted: 12.09.2023
Published online: 14.09.2023

How to cite this paper: Oluyeju, M., & Oluyeju, O. (2023). A study of the resources-for-infrastructure agreements in oil-rich markets [Special issue]. Journal of Governance & Regulation, 12(3), 312–323. https://doi.org/10.22495/jgrv12i3siart13

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

Although the relationship among default risk, size, and equity returns is comprehensively investigated in developed stock markets, the analysis is still lacking for Vietnam, an important emerging market in Southeast Asia. The key aim of this research is to examine the relationship among default risk, size, and equity returns in the Vietnamese stock market, and compare the explanatory power of the default-risk factor to the size factor in asset pricing models. We use an option-based model to obtain the proxy of default risk for approximately 360 listed firms in Vietnam. Empirical results show that distance-to-default is negatively related to stock returns. When size is controlled, the default effect exists in different size-ranked portfolios. In asset pricing models, the default-risk factor is more powerful in explaining Vietnamese equity returns compared to the size factor of Fama and French (1993). As a result, default risk is a significant factor in Vietnamese stock returns, consistent with the risk-based point of view.

Keywords: Stock Returns, Default Risk, Distance-to-Default, Financial Markets, Organizational Finance

Authors' individual contribution: Conceptualization — L.Q.D.; Methodology — L.Q.D.; Validation — M.D.T.; Writing — Review & Editing — L.Q.D. and P.D.K.; Visualization — P.D.K..; Supervision — M.D.T.

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

JEL Classification: G12, G32, G33

Received: 10.05.2023
Accepted: 11.09.2023
Published online: 14.09.2023

How to cite this paper: Quy Duong, L., Khanh, P. D., & Tran, M. D. (2023). Default risk, size, and equity returns: Evidence from an emerging stock market [Special issue]. Corporate Governance and Organizational Behavior Review, 7(3), 444–451. https://doi.org/10.22495/cgobrv7i3sip18

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

The House of Representatives (Dewan Perwakilan Rakyat — DPR) and The Regional House of Representatives (Dewan Perwakilan Rakyat Daerah — DPRD) are legislative institutions that represent the majority of the people's votes, and the members of the legislature are accountable to the people. So, to fulfill these responsibilities, members of the legislature have rights, obligations, and functions at work. The purpose of this research is to analyze the function of DPRD in the formulation of regional regulation policies, to analyze what obstacles are faced by DPRD members in the policy formulation of the Regional Regulation Draft (Rancangan Peraturan Daerah — Raperda) into regional regulations (peraturan daerah — Perda), and to make some efforts to overcome those obstacles. This research uses qualitative research with an empirical juridical approach. The data collection process was carried out under natural conditions in the form of observation, in-depth interviews, and documentation studies. This research concludes that the discussion of Raperda formulation in the DKI (Daerah Khusus Ibukota — Special Capital Region) Jakarta Provincial, DPRD adheres to the Prudential Principle or in practice is very careful in carrying out the discussion. The Precautionary Principle carried out by the DPRD can have the same meaning as Dunn (2003) concept of forecasting.

Keywords: The Regional House of Representatives, Local Regulation, Policy Formulation, Regional Government

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

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

JEL Classification: H11, H71, H83

Received: 25.10.2022
Accepted: 11.09.2023
Published online: 13.09.2023

How to cite this paper: Rulandari, N., Kesmawan, A. P., Muksin, I., Sutrisno, E., & Maswi, M. (2023). Regional House of Representatives' functions in the formation of regional regulations draft in the developing market [Special issue]. Journal of Governance & Regulation, 12(3), 302–311. https://doi.org/10.22495/jgrv12i3siart12

This work is licensed under a Creative Commons Attribution 4.0 International License.

This issue of the journal "Corporate Governance and Sustainability Review" was published on September 13, 2023.

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

How to cite: Turk, T. A. (2023). Editorial: Sustainability investments — Disclosure, board structure, innovation, efficiency, and employee performance. Corporate Governance and Sustainability Review, 7(2), 4–6. https://doi.org/10.22495/cgsrv7i2editorial

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

The phenomenon of company conversion is on the rise, both in the United Arab Emirates (UAE) and Jordan. This study aims to investigate the concept of conversion and examine the implications it has on the converted company. We explore the continuity of the converted company's legal personality and discuss its significant outcomes, whether affecting the converted company itself or others involved. Specifically, we analyze the impact of the conversion on the company's pre-conversion obligations, liabilities, and contracts. Furthermore, we examine the regulations governing the new form adopted by the converted company, both in its internal operations and relationships with partners, as well as its external interactions with others. Additionally, we provide an explanation for the capital increase when a company converts into a public joint stock company. The problem addressed in this paper is to determine the consequences of conversion for the converted company. To investigate this topic, we employ analytical and comparative methodologies. We conclude that the conversion of a company does not lead to the termination of the transferred company's legal personality and the creation of a new legal entity.

Keywords: Conversion, Public Joint Stock Company, UAE, Jordan

Authors' individual contribution: Conceptualization — R.M. and M.M.; Methodology — R.M. and M.M.; Resources — R.M. and M.M.; Writing — Original Draft — R.M. and M.M.; Writing — Review & Editing — R.M. and M.M.; Supervision — R.M.; Project Administration — R.M.

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

JEL Classification: G3, K20, K22

Received: 03.02.2023
Accepted: 08.09.2023
Published online: 12.09.2023

How to cite this paper: Madi, R., & Masn, M. (2023). The implications of conversion for the converted public joint stock companies. Corporate Law & Governance Review, 5(2), 117–127. https://doi.org/10.22495/clgrv5i2p13

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

The set of rules, laws, and procedures that lead and regulate a firm is known as corporate governance (Alqaraleh et al., 2022). The primary objective of this study was to investigate the effect of the corporate governance index on the cost of equity for businesses listed on the United Arab Emirates (UAE) Stock Exchange. This study gathers data from yearly reports from 2015 to 2021 in order to test hypotheses using multiple linear regression models to analyze the gathered data. The independent variable of the corporate governance index in our research consists of eight distinct corporate governance characteristics. According to the findings of our investigation, there is a negative correlation between corporate governance and equity capital cost. This indicates that the quality of corporate governance may lower the cost of capital. In order to improve the quality of financial reporting, we advocate implementing a robust corporate governance framework and reducing information asymmetry, i.e., increasing transparency and agency conflict, therefore, attracting financial investors and suppliers, enhancing the capital market, and absorbing the organization's required financial resources at a reduced rate. The study results suggest that corporations might minimize the cost of equity by creating excellent corporate governance. In the cost of equality, the result of the study emphasizes the significance and efficacy of corporate governance.

Keywords: Corporate Governance, Index of Corporate Governance, Cost of Equity

Authors' individual contribution: Conceptualization — A.F.H.; Methodology — M.S.O.; Software — B.J.A.A.; Investigation — B.J.A.A.; Resources — T.A.-A.; Writing — T.A.-A.; Supervision — M.F.A.E.H.

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

JEL Classification: D63, G12, G32, G34, Q52

Received: 13.12.2022
Accepted: 08.09.2023
Published online: 12.09.2023

How to cite this paper: Hayek, A. F., Oudat, M. S., Ali, B. J. A., Al-Alkawi, T., & Abu El Haija, M. F. (2023). Corporate governance and cost of equity: An empirical investigation of the United Arab Emirates stock market. Corporate & Business Strategy Review, 4(4), 24–31. https://doi.org/10.22495/cbsrv4i4art3

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

This paper aims to research the impact of COVID-19 on the labor markets in the Western Balkans to close a gap in the literature (Bartlett & Oruc, 2021). This research focuses on available data and analysis with the overall goal of providing a comprehensive picture as well as identifying potential gaps in knowledge. Results of the analysis show that the pandemic has directly affected the labor market in almost all countries of the world. In the Western Balkans, more so than in other developed countries, the restriction of movement has caused a drastic drop in business activities (Bartlett, 2021). To that end, a considerable number of businesses closed down, and a large part of citizens suddenly became unemployed. The results of this analysis reveal that the number of workers in the informal economy has increased. In addition, wage-cutting practices reported during the pandemic are likely to continue even further. Based on these circumstances, the states of the Western Balkans were forced to take the necessary legislative measures, or other measures, to provide or organize in the appropriate scope to overcome the emergency crisis.

Keywords: Pandemic, Labor Market, Unemployment, Overcoming the Pandemic

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

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

JEL Classification: J01, J08, J30

Received: 29.11.2022
Accepted: 08.09.2023
Published online: 11.09.2023

How to cite this paper: Ismajli, S., & Binaku, M. (2023). The impact of the pandemic on the labor market in the Western Balkans [Special issue]. Journal of Governance & Regulation, 12(3), 295–301. https://doi.org/10.22495/jgrv12i3siart11

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

Accounting information systems (AIS) provide appropriate information for managers to make decisions and improve corporate performance. When enterprises use appropriate AIS, enterprises can improve their corporate performance because the AIS can protect data, and assets, and generate useful information, thereby improving the decision-making process to achieve business goals (Akhter, 2022). Today, the need to apply appropriate AIS is increasing due to the influence of AIS on corporate performance (Al-Delawi & Ramo, 2020). This study is conducted to investigate AIS and the impact of AIS on the corporate performance of joint stock commercial banks in Vietnam. We employ both qualitative and quantitative methods for processing data collected from 22 joint stock commercial banks in Vietnam. The study sent 250 questionnaires to managers of joint stock commercial banks in Vietnam. The results reveal that there is a positive relationship between AIS and the corporate performance of joint stock commercial banks in Vietnam. In addition, research has also shown in more detail the relationship between AIS and corporate performance based on the application of agency theory. Based on the findings, some recommendations are proposed relating to AIS for enhancing the corporate performance of joint stock commercial banks in Vietnam.

Keywords: Agency Theory, Corporate Performance, Accounting Information Systems (AIS), Internal Controls, Managers

Authors' individual contribution: Conceptualization — T.T.T.; Methodology — T.T.T.; Resources — A.H.N.; Writing — Original Draft — T.T.T.; Writing — Review & Editing — T.T.T.; Visualization — T.T.T.; Funding Acquisition — T.T.T.

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

JEL Classification: G30, M10, M40, M41, O30

Received: 05.10.2022
Accepted: 06.09.2023
Published online: 08.09.2023

How to cite this paper: Tran Trung, T., & Huu Nguyen, A. (2023). Impact of accounting information systems on corporate performance: An application of agency theory [Special issue]. Corporate Governance and Organizational Behavior Review, 7(3), 429–443. https://doi.org/10.22495/cgobrv7i3sip17

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

The dark side of the underground economy has advanced alongside the bright side of economic progress through improved communications during this digital age (Kraiwanit, 2016). Poverty and inequality are issues that all countries must address (Rachman et al., 2021). This study investigates the level of poverty and gambling along with the relationship between poverty and gambling in the digital economy and explains the law and regulations governing poverty and gambling in the digital economy. A mixed methodology approach was utilised. For the quantitative aspect, closed-ended questionnaires were administered to 400 respondents, and the resulting data were analysed using a logit model. As for the qualitative component, the documentary method was employed, and the qualitative data were analysed using content analysis. The study reveals the significant roles played by poverty, gambling, and legislation in the digital economy. It is essential for the government and relevant agencies to implement control measures to mitigate the risks associated with problem gambling. Establishing laws such as social welfare programmes, employment regulations, and consumer protection measures can alleviate the impact of poverty and gambling. These legal frameworks ensure equitable access to essential resources and opportunities for financial betterment.

Keywords: Poverty, Gambling, Law, Regulation, Digital Economy

Authors' individual contribution: Conceptualization — M.P. and T.C.; Methodology — M.P. and T.C.; Software — M.P. and T.C.; Investigation — M.P.; Validation — M.P. and T.C.; Resources — M.P. and T.C.; Writing — M.P. and T.C.; Supervision — T.C.

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

JEL Classification: I38, K23, K42, L38

Received: 04.04.2023
Accepted: 05.09.2023
Published online: 08.09.2023

How to cite this paper: Prasertsiwaporn, M., & Chomtohsuwan, T. (2023). Poverty, gambling, and law in the digital economy. Corporate Law & Governance Review, 5(2), 109–116. https://doi.org/10.22495/clgrv5i2p12

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

In this paper, we have examined the topic related to staff stimulation, more specifically, what does it include and why is staff stimulation done? How does it affect workers? What are the challenges and achievements of the training? This paper is based on the research of Kabashi et al. (2015), Jusufi and Ramaj (2020). It is known that stimulation is an important tool for staff development, it is of great importance due to the extraordinary rate of change in the internal and external organizational environment. It is important to ensure that the business is complying with competition rules, this can be achieved through ongoing training. We also organized a survey regarding the expectations from the training, and the experience gained and the results provide answers that prove the theses about the impact of stimulation and motivation on the efficiency and authority that will have during the performance of operational works. The managerial staff of businesses has approximate expectations with benefits and results, proving the thesis that in addition to objective stimulation and motivation such as salary, the staff also needs subjective stimulation by training, evaluating, and feeling important within the business where they work.

Keywords: Human Capital, Non-Monetary, Stimulation, Efficiency, Staff

Authors' individual contribution: Conceptualization — M.K. and V.R.; Methodology — M.K. and V.R.; Investigation — M.K. and V.R.; Writing — Original Draft — M.K. and V.R.; Writing — Review & Editing — M.K. and V.R.; Supervision — M.K. and V.R.

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

JEL Classification: L2, L25, O15

Received: 30.09.2022
Accepted: 05.09.2023
Published online: 08.09.2023

How to cite this paper: Kadriaj, M., & Ramaj, V. (2023). Non-monetary stimulation of staff: A case study of businesses in the developing market. Corporate & Business Strategy Review, 4(4), 16–23. https://doi.org/10.22495/cbsrv4i4art2

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

For many professionals, blockchain technology is important. However, the adoption of blockchain technology has not been effectively prepared for by auditors. Blockchain can disturb the accounting profession due to inappropriate integration, leading employees to encounter “technostress” (Smith, 2018; Fischer & Riedl, 2017). This study aims to examine how technostress affects auditors' plans to adopt blockchain technology. The technology acceptance model (TAM) and technostress are combined in a proposed model. Accordingly, the study developed hypotheses suggesting that: technostress negatively affects the ease of use and perceived utility of the blockchain; perceived ease of use and perceived usefulness have a positive effect on favorable attitudes towards the use of the blockchain; a favorable attitude towards technology adoption impacts positively on the behavioral intention to adopt blockchain. A group of auditors (142) from Big Four (Big 4) and non-Big 4 audit firms provided information via questionnaires that were already administrated and validated. The findings support the hypotheses that technostress affects the perceived usefulness and ease of use of blockchain technology. Attitude toward adoption decision is significantly predicted by perceived usefulness and ease of use, whereas attitude toward adoption decision significantly predicts the behavioral intention to adopt blockchain technology. Overall, the findings can benefit accountants, auditors, and managers of audit firms.

Keywords: Blockchain Technology, Technostress, Auditors, Technology Acceptance Model, Jordan

Authors' individual contribution: Conceptualization — M.O.A.S., T.O.B-K., H.A., and A.A.S.; Resources — M.O.A.S., T.O.B-K., H.A.-H., and A.A.S.; Writing — Original Draft — M.O.A.S., H.A., H.A.-H., and A.A.S.; Writing — Review & Editing — M.O.A.S. and T.O.B-K.; Supervision — M.O.A.S. and A.A.S.; Project Administration — T.O.B-K.

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

JEL Classification: M41, M42, K16

Received: 05.02.2023
Accepted: 06.09.2023
Published online: 08.09.2023

How to cite this paper: Al Shbail, M. O., Bani-Khalid, T. O., Ananzeh, H., Al-Hazaima, H., & Al Shbail, A. (2023). Technostress impact on the intention to adopt blockchain technology in auditing companies [Special issue]. Journal of Governance & Regulation, 12(3), 285–294. https://doi.org/10.22495/jgrv12i3siart10

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

This study examines the impact of COVID-19 on the export commodity sector in North Kalimantan province, Indonesia. The sector's heavy reliance on hydrocarbon, seafood, and agricultural products, and lack of diversification in the commodity market pose significant risks to its long-term sustainability and growth. Studies critically analysing the trading of this commodity and the pandemic's impacts on this sector remain lacking. Using a content analysis approach on data and information sourced from government reports and statistics, this qualitative-based study provides insight into the impacts of the COVID-19 pandemic and its resultant government intervention measures on North Kalimantan's export commodities. Findings show that export commodities handled by the province's ports decreased by 7 percent from 2019 to 2020, but in 2021, export values almost doubled compared to pre-COVID levels. The province's economic growth has been heavily dependent on hydrocarbon, seafood, and agricultural products before and during the pandemic. To create a more business-friendly environment and reverse the downward trend of export commodities, the study suggests diversifying the commodity market, enhancing human resource capacity, and forging stronger private-public partnerships. The study provides insight into the effects of the pandemic on North Kalimantan's export commodity sector, highlighting the need for long-term sustainability strategies.

Keywords: Cross-Border Trade, International Trade, Economic Growth, Socio-Economics, COVID-19 Pandemic

Authors' individual contribution: Conceptualization — E., J., and M.Z.A.; Methodology — D.I.K.M. and R.I.; Software — M.Z.A. and D.I.K.M.; Validation — E. and R.I.; Formal Analysis — E., J., and R.I.; Writing — Original Draft — E. and R.I.; Writing — Review & Editing — M.Z.A., J., D.I.K.M., and R.D.; Supervision — E., D.I.K.M., and R.I.; Project Administration — E., M.Z.A., and R.I.

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

JEL Classification: B17, F18

Received: 21.01.2023
Accepted: 04.09.2023
Published online: 07.09.2023

How to cite this paper: Elyta, Ahmad, M. Z., Jamaliah, Mujiono, D. I. K., Islam, R., & Daud, R. (2023). Impacts of the COVID-19 pandemic on export commodity trading [Special issue]. Journal of Governance & Regulation, 12(3), 274–284. https://doi.org/10.22495/jgrv12i3siart9

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

This study investigates the effect of woman's representation in the local government head and legislative positions on public service quality in Indonesian local governments. We use secondary data from the Ministry of Internal Affairs, a local government website, and the Indonesia Statistics Bureau from 2016–2019, analyzed with panel data regression analysis. Overall, we find that local government public service quality is at a high level. Meanwhile, women's political representation in Indonesian local government is still considerably low, both in legislative and top executive positions. Empirical findings demonstrate that women's representation in the legislative board provides a positive impact on public service quality while women's local government head has no significant effect. The effect is consistent both in district local governments and city local governments observations. Our study provides recommendations that suggest that women's representation in local politics should be increased to promote gender equality which leads to better public governance.

Keywords: Christian Business Leader, Crisis Leadership, Management, Entrepreneurship, Organisational Culture

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

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

JEL Classification: D810, M140, Z120

Received: 12.12.2022
Accepted: 04.09.2023
Published online: 07.09.2023

How to cite this paper: Kapotwe, J. M., Bamata, N. H., & Phiri, M. A. (2023). The role of crisis leadership in improving organisational culture during the COVID-19 pandemic among Kwazulu-Natal Christian business leaders [Special issue]. Corporate Governance and Organizational Behavior Review, 7(3), 415–428. https://doi.org/10.22495/cgobrv7i3sip16

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

The evolution of technology encourages lazy behaviour or addiction to convenience. Consumers are willing to pay for products and services that help them to live a more comfortable life thanks to changes in their behaviour. They want to save time and energy for something else; even if a job is beneficial to them, they would prefer someone else to do it (Komin, 2019). The lazy economy is an intriguing economic trend in today's world as the market for hyper-convenience is rapidly expanding (Chou, 2019). This study investigated the factors affecting the lazy economy in Thailand. A quantitative approach was employed. An online questionnaire was used to collect data from a convenience sample of 636 participants in Thailand. Binary regression analysis was performed for the data analysis. For online shopping, the lazy economy could be described as being a student, using Facebook, and using Twitter. For catering, the lazy economy could be described by score and education. The development of comprehensive and consistent related laws is required in the next phase to share resources, strengthen community cooperation, create a sense of security and peace of mind, and reduce the gap in the consumption of goods and services in the lazy economy.

Keywords: Technology, Lazy Economy, Thailand

Authors' individual contribution: Conceptualization — W.S. and T.K.; Methodology — W.S. and T.K.; Software — W.S. and Y.S.; Validation — W.S. and T.K.; Investigation — W.S., T.K., and Y.S.; Resources — W.S., T.K., and Y.S.; Writing — W.S., T.K., and Y.S.; Supervision — T.K.

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

JEL Classification: A10, A11, P40

Received: 13.12.2022
Accepted: 04.09.2023
Published online: 06.09.2023

How to cite this paper: Singharat, W., Kraiwanit, T., & Shaengchart, Y. (2023). The lazy economy in a developing country. Corporate & Business Strategy Review, 4(4), 8–15. https://doi.org/10.22495/cbsrv4i4art1

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

This study aims to investigate the impact of competitive positions and corporate governance on firm values. Corporate governance is proxied by the board of commissioner's size, the board of commissioner's independence, institutional ownership, and foreign ownership. The company's competitive position is determined by its market share. Tobin's Q is utilized to determine a firm value. In addition, firm size, leverage, and profitability served as control factors. A total of 100 manufacturing companies in Indonesia for the 2019–2021 period were selected as samples using a random sampling technique. Multiple linear regression is utilized for data analysis. The finding shows competition and foreign ownership have no effect on the firm value. While the board size and independence of the board and institutional ownership can impact the firm's value. The results of this study reveal that during the COVID-19 outbreak, the competitive position cannot aid enterprises in attaining their objective of increasing firm value. This result indicates the anomalous condition affecting the competitive standing during the COVID-19 era. In this period, severe competition poses a challenge to a company's ability to generate a sustainable income, despite the fact that market conditions and competitive strategy might provide a competitive edge and better performance.

Keywords: Competitive Position, Corporate Governance, Firm Value

Authors' individual contribution: Conceptualization — E.S. and W.U.; Methodology — E.S. and W.U.; Investigation — E.S. and A.H.Z.; Resources — E.S., W.U., and A.H.Z.; Data Curation — E.S. and A.H.Z.; Writing — E.S.; Supervision — E.S.

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

JEL Classification: G10, G30, G34, G38

Received: 28.09.2022
Accepted: 31.08.2023
Published online: 05.09.2023

How to cite this paper: Setiany, E., Utami, W., & Zamzami, A. H. (2023). Firm value: Competitive position and corporate governance during the COVID-19 pandemic [Special issue]. Journal of Governance & Regulation, 12(3), 266–273. https://doi.org/10.22495/jgrv12i3siart8

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

Due to opaque and hurried deliberation during the COVID-19 incident, Indonesia's legal system has been low-quality. Matched to Rishan's (2022) and Chandranegara and Cahyawati's (2023) reports, there has been a decline in the quality of the legislative process due to the conflict of interest of the lawmakers. During the COVID-19 pandemic, laws are frequently created with little input and strict respect for procedural rules. This paper intends to answer two research questions, first, how and why the market's power is interested in controlling the legal system, and second, what scenario would minimize and prevent the consequences of the influence. This study uses a normative legal research method with a conceptual approach. The study demonstrates that realizing the fulfilment of economic objectives can be achieved through the legislative process. As a result, the legislative process may lose its purpose. It is possible to hold this hostage starting with corrupt activities like bribery or political donations, which are typically linked to corruption, as well as a model of cognitive bias since lawmakers are subtly connected to corporate interests. As a result, lawmakers must stop business actors from having conflicts of interest.

Keywords: Quality of Lawmaking, Public Health Emergencies, Legislation, Special Interest

Authors' individual contribution: Conceptualization — I.S.C. and D.P.C; Methodology — I.S.C. and D.P.C.; Data Curation — I.S.C. and D.P.C.; Formal Analysis — I.S.C.; Resources — I.S.C.; Writing — Original Draft — I.S.C. and D.P.C.; Writing — Review & Editing — I.S.C.

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

JEL Classification: K10, K20, K23, K40

Received: 06.12.2022
Accepted: 01.09.2023
Published online: 05.09.2023

How to cite this paper: Chandranegara, I. S., & Cahyawati, D. P. (2023). Quality of legislative process during the time of the pandemic. Corporate Law & Governance Review, 5(2), 100–108. https://doi.org/10.22495/clgrv5i2p11

This work is licensed under a Creative Commons Attribution 4.0 International License.

This issue of Corporate Ownership and Control journal was published on September 5, 2023.

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

How to cite: Veltri, S., Kostyuk, A., & Tenuta, P. (2023). Editorial: Making ESG real in the theoretical and empirical debate [Special issue]. Corporate Ownership and Control, 20(3), 252–254. https://doi.org/10.22495/cocv20i3sieditorial

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

Wealth accumulation aids in the survival and betterment of disadvantaged households. The majority of African households acquire wealth in the form of properties, which form part of their assets. This study aims to investigate the effect of property tax on wealth accumulation. From 1990 through 2019, the study looks at seven African countries: Cameroon, Eswatini, Madagascar, Mauritius, Morocco, South Africa, and Tunisia. The panel vector error correction model (PVECM) was employed as the econometric technique approach. The variables used in the study are property tax, land wealth, political stability, education, and household income. The findings show that property taxes have a positive and significant relationship with wealth accumulation in the long-run in the seven African countries studied. In the short-run, however, the relationship is negative and statistically insignificant. The study recommends a policy review on land ownership to attain easily landed properties and a reduction in property tax.

Keywords: Property Tax, Wealth Accumulation, Panel Vector Error Correction Model, African Households, African Countries

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

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

JEL Classification: D14, D31, H20

Received: 02.02.2023
Accepted: 01.09.2023
Published online: 04.09.2023

How to cite this paper: Giwa, F., & Choga, I. (2023). The effect of property tax on wealth accumulation in developing economies [Special issue]. Corporate Governance and Organizational Behavior Review, 7(3), 405–414. https://doi.org/10.22495/cgobrv7i3sip15

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

This research aims to conduct a thorough examination of the practices related to the disclosure of intellectual capital (IC). In the context of the dynamic knowledge-based economy, it is crucial for organizations to recognize the significance of IC. Intellectual capital comprises three key components: internal capital, external capital, and human capital. These elements play a pivotal role in generating value for organizations and positioning them competitively in the market. The current body of literature is constrained in its empirical investigation of IC disclosures and their congruence with organizational strategies. This research utilizes a combination of textual analysis and machine learning techniques, specifically K-means clustering, to examine the practices of IC disclosure. The integration of machine learning techniques facilitates the identification of patterns and interdependencies among diverse IC attributes. Notably, while the current literature has predominantly focused on IC disclosures within established frameworks, it often falls short of empirically exploring patterns and interconnections between different IC attributes. The results of the study indicate a notable emphasis on the disclosure of human capital and provide valuable insights into the different strategic priorities based on the clustering of IC attributes. The insights provided offer significant value to organizations as they facilitate the improvement of transparency and the effective communication of the strategic importance of IC. Furthermore, this study makes a valuable contribution to the existing theoretical framework on IC by identifying the interconnections that exist between various attributes of IC. The utilization of these findings by policymakers and standard-setting bodies can be instrumental in the development of more extensive guidelines for IC disclosures.

Keywords: Intellectual Capital, Textual Analysis, Machine Learning, K-Means Clustering

Authors' individual contribution: Conceptualization — M.M. and Y.A.; Methodology — M.M.; Formal Analysis — M.M. and Y.A.; Writing — M.M. and Y.A.; Project Administration — M.M. and Y.A.

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

JEL Classification: M00, M10, M21, M40, M49

Received: 06.07.2023
Accepted: 31.08.2023
Published online: 04.09.2023

How to cite this paper: Anwar, Y., & Mulyadi, M. (2023). Beyond traditional analysis: Using machine learning to investigate intellectual capital disclosures [Special issue]. Corporate Ownership & Control, 20(3), 437–446. https://doi.org/10.22495/cocv20i3siart16

This work is licensed under a Creative Commons Attribution 4.0 International License.

This issue of the journal "Corporate & Business Strategy Review" was published on September 4, 2023.

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

How to cite: Stankevičiūtė, Z. (2023). Editorial: Rethinking socially responsible behaviour of organisations in the new normal. Corporate & Business Strategy Review, 4(3), 4–5. https://doi.org/10.22495/cbsrv4i3editorial

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

The aim of the topic is the scientific and analytical treatment of European Union (EU) legal documents and their harmonization in the field of civil rights. This research article explains the cultural diversity in EU countries and the difficulties that court decisions have in dealing with individuals' cases coming from countries outside the EU. As an example, we took the orders of the courts of the EU countries (Pacula, 2020) with special emphasis on Spanish and Moroccan citizens living in Spain (Mehdi, 2008), their problems with the law in force, and with respect to international standards. Our findings show that emigration to EU countries of citizens from countries outside the EU, among other things, also shows the existence of cultural differentiation. Whereas diversity is about the different cultural unification of the individual, it has a reluctance to accept these differentiations. Regarding mass immigration to EU countries, the guarantee and provision of basic rights and freedoms must be done through the harmonization of legal norms that are also related to the needs of multinational corporations for the workforce. The recognition and acceptance of the external judicial decision would also make possible the factual and legal acceptance of the existence of cultural diversity.

Keywords: Civil Rights, Divorce, Cultural Diversity, Comparative Law, International Law, EU, Positive Law, Corporate Charter, By-Laws, Insider Dealing

Authors' individual contribution: Conceptualization — S.K.; Methodology — S.K. and V.Sh.; Investigation — V.Sh. and R.H.; Resources — R.H. and A.P.; Writing — Original Draft — S.K. and A.P.; Writing — Review & Editing — S.K. and V.Sh.; Supervision — S.K.

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

JEL Classification: K4, K38, K41, K49

Received: 18.11.2022
Accepted: 28.08.2023
Published online: 31.08.2023

How to cite this paper: Krasniqi, S., Shala, V., Hoti, R., & Podvorica, A. (2023). Cultural diversity, civil rights, and the status of foreigners in some European Union countries. Corporate Law & Governance Review, 5(2), 92–99. https://doi.org/10.22495/clgrv5i2p10

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

Misconduct in the financial sector, such as earnings management, has garnered significant attention from researchers due to the peculiarities of managers in financial reporting. Effective corporate boards have the potential to limit managerial opportunism in this regard. However, the existing literature yielded inconclusive results. Therefore, the present study aims to examine the influence of corporate board characteristics on earnings management through meta-analysis. The dataset comprises 72 published empirical studies with 3,66,417 firm-year observations. A two-step methodology is adopted following the PRISMA guidelines proposed by Moher et al. (2009) and the meta-analytic technique propounded by Hedges and Olkin (2014). The major findings of the study uncover that active, gender-diverse and larger corporate boards are most influential in controlling earnings management practices. Furthermore, different discretionary accrual measures, corporate governance systems, and the International Financial Reporting Standards (IFRS) adoption moderate the association between earnings management and board composition. The study provides a quantitative generalization to the inconclusive outcomes of published empirical studies from different timeframes and jurisdictions. The findings may help academicians and researchers to develop a holistic understanding of the impact of corporate boards on earnings management. This is one of the first studies to undertake a meta-analytic review of the association of board gender diversity and board activity as board characteristics with earnings management.

Keywords: Earnings Management, Discretionary Accruals, PRISMA, Board of Directors, Corporate Governance, CG, Meta-Analysis

Authors' individual contribution: Conceptualization — A.K., G.C.M., and A.S.; Methodology — A.K.; Software — A.K.; Formal Analysis — A.K.; Writing — Original Draft — A.K.; Writing — Review & Editing — A.K., G.C.M., and A.S.; Supervision — G.C.M. and A.S.

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

JEL Classification: M10, M40, M41, M48

Received: 08.06.2023
Accepted: 29.08.2023
Published online: 31.08.2023

How to cite this paper: Kaur, A., Maheshwari, G. C., & Singh, A. (2023). Unveiling the alliance between corporate board composition and earnings management through meta-analysis [Special issue]. Corporate Ownership & Control, 20(3), 421–436. https://doi.org/10.22495/cocv20i3siart15

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

The study was conducted at the Regional Secretariat of Central Kalimantan. The researchers' observations indicated that employee performance was very low; this was reflected in employees not wanting to help colleagues with work difficulties, teamwork within and between areas remained low, and employees not responding positively to tasks assigned to supervisors. The sampling technique used a simple random sample with a total sample of 150 individuals — a data analysis technique using structural equation modeling (SEM). The results showed that ethical leadership and work culture had positive and significant effects on organizational citizenship behavior (OCB), while public service motivation had no significant effect on OCB. Ethical leadership had no significant effect on performance, whereas work culture and public service motivation had positive effects, especially on performance. OCB has a positive and significant impact on employee performance. OCB conveys the impact of ethical leadership and work culture on employee performance, however, OCB does not assess the impact of public service motivation on employee performance.

Keywords: Ethical Leadership, Work Culture, Public Service, OCB, Work Performance

Authors' individual contribution: Conceptualization — I. and S.R.; Methodology — I. and U.; Validation — I. and S.R.; Formal Analysis — I. and S.R.; Resources — I. and S.R.; Data Curation — U. and S.R.; Writing — Original Draft — I.; Writing — Review & Editing — U. and S.R.; Supervision — U. and S.R.; Project Administration — I.

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

JEL Classification: D23, D73, H11, H83, M11

Received: 28.11.2022
Accepted: 29.08.2023
Published online: 31.08.2023

How to cite this paper: Iswanti, Ujianto, & Riyadi, S. (2023). Ethical leadership, culture, and public service motivation on organizational citizenship behavior: A case study of civil servants [Special issue]. Corporate Governance and Organizational Behavior Review, 7(3), 395–404. https://doi.org/10.22495/cgobrv7i3sip14

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

This article explores the relationship between board quality and firm performance. The authors investigate any association between corporate governance and firm performance using a sample of listed firms on the Athens Stock Exchange (ATHEX) from 2008 to 2016 and two distinct performance models. This article expands on a previous study by Kalantonis et al. (2021) by including financial performance as assessed by both return on assets (ROA) and Tobin's Q. This investigation provides a global and comprehensive view of how specific aspects of corporate governance (CG) have influenced Greek listed companies during the period 2008–2016. Extending analysis also allows to capture the dynamics of the Greek financial crisis as well as the recent legal institutional framework concerning CG. The authors found that firms with more independent board members performed poorly in terms of ROA, while board size (BS) is positively related to performance in terms of Tobin's Q. Furthermore, a positive relationship was found between CEO duality (CEOD) and firm performance both in terms of ROA and Tobin's Q, and no relationship was found between board gender diversification and firm performance. Finally, it was concluded that the investigated GC aspects affect more the firms' performance than the firms' earnings management.

Keywords: Corporate Governance, Performance, Greek Listed Firms

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

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

JEL Classification: C30, G3, G32

Received: 23.01.2023
Accepted: 30.08.2023
Published online: 31.08.2023

How to cite this paper: Kalantonis, P., Schoina, S., & Kallandranis, C. (2023). The impact of the corporate governance on firm performance: Evidence from the Greek listed firms [Special issue]. Journal of Governance & Regulation, 12(3), 255–265. https://doi.org/10.22495/jgrv12i3siart7

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

Auditing quality is the level of customer satisfaction with the objectivity and reliability of the audit service (Ministry of Finance, 2012). This study explores the relationship between service quality and the loyalty of customers in Vietnamese domestic independent auditing firms. This study was conducted in Hanoi, Vietnam, based on a sample of 250 general accountants and chief accountants who are working for customer firms with transactions at Vietnamese domestic independent auditing firms in Hanoi city. Based on the collected data, we run Cronbach's alpha, exploratory factor analysis (EFA), Kaiser-Meyer-Olkin (KMO) test, Barlett's test, and regression using SPSS software. The results show that service quality positively affects the loyalty of customers (LOY), including reliability (REL), responsiveness (RES), assurance (ATT), empathy (EMP), and tangibility (TAN). Moreover, it recognizes the higher weight of customer loyalty in firms. The research determined that service quality can promote customer loyalty. Besides, the services of domestic independent auditing firms have many different characteristics compared to other industries. Therefore, there is a need for more studies on the relationship between service quality and customer loyalty in the audit field. From there, it contributes to perfecting the theoretical framework on customer loyalty and is a useful reference for domestic independent auditing firms, auditors, and audit researchers.

Keywords: Customer Loyalty, Service Quality, Auditing, Accounting, Domestic Independent Auditing Firms

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

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

JEL Classification: M20, A10, M40, M41, M42

Received: 18.03.2023
Accepted: 29.08.2023
Published online: 30.08.2023

How to cite this paper: Nguyen, H., Hoang, D. H., Do, D. T., Tran, T. N., Dao, T. T., & Vu, H. P. (2023). A study on customer loyalty to service quality in independent auditing firms [Special issue]. Journal of Governance & Regulation, 12(3), 243–254. https://doi.org/10.22495/jgrv12i3siart6

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

Corporate social responsibility (CSR) improves business performance in a significant way (Manzoni & Islam, 2015). This study examines how travel and tourism firms handled their CSR during the COVID-19 pandemic and how it affected employee satisfaction (EST) with corporate responses on employee psychological capital (PsyCap) that was measured through self-efficacy (SEC), hope (HOP), resilience (RES) and optimism (OPT). This study also examines PsyCap's impact on employee work performance (WPM). An online questionnaire was used to obtain data from Indian travel industry personnel to support the study's conceptual model. A total of 301 valid and usable responses were obtained for the final analysis, which was analyzed using Statistical Package for the Social Sciences (SPSS) 20 and Analysis of Moment Structures (AMOS) 22 software. The model underwent validation through confirmatory factor analysis (CFA) and structural equations modeling (SEM). CSR strongly affects EST, which positively impacts all four variables of employee PsyCap. A positive association of SEC, HOP, and OPT with WPM has also been found, while the association between RES and WPM is insignificant. These variables explained about 53% (R2 = 53.2) of the variance in work performance. This study offers academia and industry practitioners valuable insights into CSR during natural disasters and health hazards.

Keywords: Corporate Social Responsibility, CSR, Psychological Capital, Employee Satisfaction, Work Performance, COVID-19

Authors' individual contribution: Conceptualization — W.Y.; Methodology — M.A.; Software — M.A.; Investigation — M.A.; Resources — L.S., W.Y., and M.J.A.; Writing — Original Draft — M.A., W.Y., M.J.A., and A.A.; Writing — Review & Editing — L.S., M.J.A., and A.A.

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

JEL Classification: G34, M14, M12, Z30, Z39

Received: 29.04.2023
Accepted: 25.08.2023
Published online: 30.08.2023

How to cite this paper: Sami, L., Azhar, M., Yazdani, W., Akhtar, M. J., & Aslam, A. (2023). Understanding corporate social responsibility, employee psychological capital and work performance: The perspective of tourism in the emerging economy. Corporate Governance and Sustainability Review, 7(2), 47–59. https://doi.org/10.22495/cgsrv7i2p5

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

The aim of this paper is to critically explore information technology governance (ITG) context, its consequences, its various aspects, its determinants, disclosure, maturity, and challenges. There are some motivations that urge the researchers to carry out this study. First, the review of prior relevant literature reveals a limited number of studies addressing the IT governance context, its consequences, its various aspects, its determinants, and challenges. Second, very little is known about the potential implications of IT governance within the business and how it is significant to the decision-makers (e.g., shareholders, board of directors, executives, etc.). Finally, little research employs the structured literature review (SLR) approach to critically discuss and analyze the IT governance context with its various aspects. The systematic and structured literature review has been employed for a critical analysis of the previous studies on IT governance. It is found that effective ITG has a positive impact on the firm performance in consistent with Altemimi and Zakaria (2017), Hulme (2012). Additionally, it is concluded that there is a positive association between ITG, the trustworthiness and the level of financial disclosure agreeing with (Raghupathi, 2007; Ali & Green, 2007). It is also concluded that the level of ITG disclosure is higher within firms in Europe (67%) than in the US (49%) complementing with Joshi et al. (2013). The adoption of the SLR methodology enables this paper to derive unbiased empirical insights and critique into the current ITG research and to identify possible directions for future ITG research, which may possibly be of interest to the academics, regulators, and professional bodies (e.g., shareholders, board of directors, executives, etc.).

Keywords: Governance, IT, Disclosure, Board of Directors, Shareholders

Authors' individual contribution: Conceptualization — N.O.K.; Methodology — N.O.K.; Investigation — E.K.A.-E.; Resources — E.K.A.-E.; Writing — A.M.K.; Supervision — A.M.K.

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

JEL Classification: G3, M41, M42

Received: 08.05.2023
Accepted: 28.08.2023
Published online: 30.08.2023

How to cite this paper: Kandil, N. O., Abou-Elkheir, E. K., & Kotb, A. M. (2023). IT governance matter: A structured literature review [Special issue]. Corporate Ownership & Control, 20(3), 408–420. https://doi.org/10.22495/cocv20i3siart14

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

Banks are one of the essential pillars of the financial sector (Alzuod & Alqhaiwi, 2022), however, banking is a high-risk industry (de Andres & Vallelado, 2008). The aim of this paper is to investigate the impact of the board's structure and ownership structure on the financial risks of Jordanian commercial banks. Data was gathered manually from the financial reports. Notably, the study addressed two types of financial risks: liquidity risk and credit risk. The study sample included commercial banks listed on the Amman Stock Exchange (ASE) to cover the period 2014–2019. To achieve the study's objectives, multiple regression analysis was run to test the hypotheses. The results reveal a negative, statistically significant impact of the board size, institutional ownership, and bank size on liquidity risk. The results also demonstrated a negative effect of board independence, ownership concentration, bank size, and CEO duality on credit risk. In sum, the results support previous studies that found a statistically significant role of corporate governance mechanisms in reducing financial risks. The study recommended the need to enhance foreign investment and institutional ownership.

Keywords: Governance Systems, Ownership Structure, Agency Theory, Board Attributes, Credit Risk, Liquidity Risk

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: 10.01.2023
Accepted: 28.08.2023
Published online: 29.08.2023

How to cite this paper: Altawalbeh, M. A. (2023). Corporate governance systems and financial risks: A developing country evidence [Special issue]. Journal of Governance & Regulation, 12(3), 232–242. https://doi.org/10.22495/jgrv12i3siart5

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

This study aims to analyze the influence of organizational culture and work motivation on the performance of civil servants in Indonesia. This research is a quantitative study, using survey methods and distributing questionnaires to 31 respondents from the Regional Development Planning Agency (RDPA), Central Maluku Regency, through a census. The statistical method uses multiple regression analysis with IBM SPSS Statistics software version 20.0. The results of the study explain that motivation has no effect on employee performance. This condition implies that motivation needs to be encouraged and driven by the leadership so that employees want to work optimally. On the other hand, factors of communication, coordination, environment, achievement recognition, and mutual respect are needed to create comfortable working conditions for all parties. Meanwhile, organizational culture factors have a very positive effect on employee performance. These results prove that a strong organizational culture is the result of spreading trust and values that develop within an organization and directing employee behavior in the desired direction thereby increasing a sense of comfort and loyalty to the organization.

Keywords: Survey, Motivation, Organizational Culture, Civil Servant Performance, Indonesia

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: L22, L23, L25

Received: 23.09.2022
Accepted: 24.08.2023
Published online: 28.08.2023

How to cite this paper: Karepesina, M. T. (2023). Performance of civil servants: The role of motivation and organizational culture [Special issue]. Corporate Governance and Organizational Behavior Review, 7(3), 385–394. https://doi.org/10.22495/cgobrv7i3sip13

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

The purpose of this paper is to examine the role of cryptocurrency in facilitating money laundering and identify different methods and services that send funds through numerous addresses or businesses to obscure their origins using cryptocurrency. The methodology for conducting this research is qualitative. A literature review that involves a systematic and rigorous approach to identifying, analyzing, and synthesizing existing research on the use of cryptocurrency as a money laundering instrument has been taken into consideration. We identified in the first selection more than 150 research papers published between 2002 and 2021. Our results show that cryptocurrency is used in money laundering schemes, including the purchase of cryptocurrencies by criminal networks using illicit proceeds and the use of cryptocurrencies to transfer funds. The biggest issue facing virtual currency currently is that the same attributes that attract legitimate users, such as anonymity, as well as speed and global reach, also attract criminals. Money laundering has had devastating social implications for societies. Our research helps to focus attention on the problems of using cryptocurrency in money laundering practices and possible interventions by the authorities in the form of regulation.

Keywords: Blockchain Technology, Cryptocurrency, Financial Crimes, Governance Challenges, Virtual Currency

Authors' individual contribution: Conceptualization — L.P. and K.P.; Methodology — K.P.; Formal Analysis — L.P. and K.P.; Investigation — L.P., D.B., and K.P.; Resources — L.P.; Writing — Original Draft — L.P.; Writing — Review & Editing — L.P., D.B., and K.P.

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

JEL Classification: G3, G28, K24, M4

Received: 17.02.2023
Accepted: 25.08.2023
Published online: 28.08.2023

How to cite this paper: Prendi, L., Borakaj, D., & Prendi, K. (2023). The new money laundering machine through cryptocurrency: Current and future public governance challenges. Corporate Law & Governance Review, 5(2), 84–91. https://doi.org/10.22495/clgrv5i2p9

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

This study was purposed to determine whether online learning influences e-service quality at the university administration during the pandemic and its impact on intention to enrol, because all high school students have been learning from home for two years, so the interaction behavior has pushed the administration of the university to become more digital than before. The second problem is that before this research, most marketing approaches only focused on positive emotions to make a decision to enroll, and this research has proven that the negative emotion can be used by marketing to influence the student to enrol in the university. The methodology in this research is a quantitative methodology the partial least squares structural equation modeling (PLS-SEM) analysis method using the SmartPLS was applied. A multi-equation model, namely the outer model and inner model, was used. In the outer model, the sample consists of 242 students of tenth to twelfth grade in high school in Jakarta, Banten, Lampung, and Yogyakarta. The main finding and contribution from this research are that the online experience of students in higher education will influence the e-service quality at the university administration, so the student experience in online learning influence e-service quality to intention to enroll. It was found that negative emotion positively influences and is significant to the intention to enrol and this can be used for one of the marketing strategies. The limitation of this research is that the negative emotions in this research cover only nervousness, so further research can test other negative emotions that can affect the intention to enroll.

Keywords: Online Learning Education, Multiple Equation Modeling, Marketing, Higher Education

Authors' individual contribution: Conceptualization — H.A.; Methodology — H.A.; Investigation — R.P.; Resources — R.P.; Writing — Original Draft — H.A.; Supervision — H.A.

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

JEL Classification: I2, C3, D4

Received: 15.08.2022
Accepted: 25.08.2023
Published online: 28.08.2023

How to cite this paper: Achmadi, H., & Pramono, R. (2023). Innovation marketing management by using negative emotional value and impact of online learning on intention to enrol [Special issue]. Journal of Governance & Regulation, 12(3), 223–231. https://doi.org/10.22495/jgrv12i3siart4

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

This study aims to determine items with Islamic elements to develop an Islamic social enterprise management index (ISEMI). An Islamic social enterprise (ISE) works by managing operations within the principles of shari'ah to redistribute wealth and reduce poverty which is supported by a similar study by Indah and Hakim (2023). The design and method for this study involved three phases of analysis which are 1) general descriptive analysis, 2) validity and reliability analysis, and 3) data analysis phase of the study. In all, 40 items with Islamic traits were identified and analyzed. Three identifiable themes emerged, which were then labeled as: 1) God; 2) humanity, and 3) nature. Because of the limited sample size, the data offers results that are likely suggestive rather than conclusive. The study offers a practical single-figure-summary indicator to measure and evaluate ISEs and has the potential as a guideline for Muslim entrepreneurs to build favorable relationships with ISE management. The novelty of the ISEMI is in its unique construction of items embedded with Islamic factors. It could thus assist in the management of ISE to ensure they fulfill the principles of the shari'ah (Islamic law) and stakeholders' expectations.

Keywords: Islamic Social Enterprise, Management Index, Reporting Social Enterprise, Stakeholders Expectations, Shari'ah Principles

Authors' individual contribution: Conceptualization — S.Z. and K.Y.S.; Methodology — S.Z. and N.E.J.; Investigation — R.M.Y. and M.I.H.K.; Resources — R.M. and N.H.M.Y.; Writing — Original Draft — S.Z. and K.Y.S.; Writing — Review & Editing — S.Z. and K.Y.S.; Visualisation — R.M. and K.Y.S.; Supervision — S.Z. and R.M.Y.; Funding Acquisition — N.E.J. and M.I.H.K.

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

JEL Classification: E16, L31, L32, L35, M14, O35

Received: 05.12.2022
Accepted: 25.08.2023
Published online: 28.08.2023

How to cite this paper: Zainon, S., Mokhtar, R., Soo, K. Y, Yunos, R. M., Japelus, N. E., Yatim, N. H. M., & Kamaruddin, M. I. H. (2023). The development of the Islamic social enterprise management index (ISEMI). Corporate & Business Strategy Review, 4(3), 167–180. https://doi.org/10.22495/cbsrv4i3art17

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

The purpose of the paper is articulated well, targeting an essential aspect of modern business management: the impact of organizational culture (OC) and shared leadership (SL) on digital transformation (DT), and its subsequent effect on firm performance (FP). The use of structural equation modeling (SEM) in data analysis provides a strong basis for determining relationships between the variables involved, as this method can handle complex relationships effectively. The sample size of 245 managers and information technology (IT) staff across 49 commercial enterprises appears suitable, but the selection only from enterprises in the Mekong Delta region of Vietnam may introduce geographical biases into the study. The paper confirms and builds upon established research, indicating a positive correlation between organizational cultural values, shared leadership, digital transformation, and firm performance. Such a connection is crucial in today's digital age. The paper has rightfully pointed out the limitations of the study, mainly that the generalizability of results may be affected due to the convenience sampling method. Additionally, the geographical limitation (Mekong Delta region) could potentially impact the application of these results to other regions or countries. The authors' exploration of organizational culture values and shared leadership as drivers of digital transformation in the context of Vietnam offers a fresh perspective, considering that studies in this specific context seem to be limited.

Keywords: Organizational Culture, Shared Leadership, Digital Transformation, Firm Performance

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

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

JEL Classification: C2, L2, M1

Received: 18.02.2023
Accepted: 23.08.2023
Published online: 25.08.2023

How to cite this paper: Ho Dai, D., & Huynh Tan, K. (2023). The influence of organizational culture and shared leadership on digital transformation and firm performance [Special issue]. Journal of Governance & Regulation, 12(3), 214–222. https://doi.org/10.22495/jgrv12i3siart3

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

Early childhood is essential for cognitive, social, emotional, and physical development (United Nations International Children's Emergency Fund [UNICEF], 2022). This study aims to explain government policy, law, and regulation, as well as social community participation, for early childhood development in Asia. The qualitative approach was adopted. In-depth interviews were conducted with 10 key informants, employing purposive sampling. Content analysis was performed on the data. The findings revealed that governments have put policies in place to help families with children and to increase access to childcare services. Childcare policies differ by country and are influenced by cultural, economic, and political factors. The government policies law and rules in China, Japan, South Korea, and Thailand aid families with children and provide access to childcare services. However, the level of government support, the availability of childcare facilities, and the extent to which employers are encouraged to provide support for working parents vary. Furthermore, social community participation in childcare services is important and can take various forms, including volunteer work, advocacy, financial support, use of services, and community engagement. By participating in these ways, communities can help to ensure that all children have access to the high-quality care that they need to thrive.

Keywords: Government, Policy, Law, Regulation, Social Community Participation, Early Childhood Development

Authors' individual contribution: Conceptualisation — C.M. and E.C.; Methodology — C.M. and E.C.; Investigation — C.M. and E.C.; Validation — C.M. and E.C.; Writing — C.M. and E.C.; Resources — C.M. and E.C.; Supervision — C.M.

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

JEL Classification: K23, O15, O38

Received: 03.03.2023
Accepted: 23.08.2023
Published online: 25.08.2023

How to cite this paper: Muangwichian, C., & Congkrarian, E. (2023). Government policy, law, and regulation: A perspective on early childhood development in Asia. Corporate Law & Governance Review, 5(2), 76–83. https://doi.org/10.22495/clgrv5i2p8

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

The research investigates the effect of various macroeconomic factors on health care spending using time series data for Albania for the period from 2000 to 2020. Health care expenditure is measured as a percentage of gross domestic product (GDP), out-of-pocket expenses, domestic private health expenditure, and external health expenditure per capita. Understanding what influences health spending is the main goal of the following study. In the study, explanatory variables are divided into two groups: demographic and socioeconomic determinants. These determinants include factors, such as GDP per capita, deposit interest rate, remittances, life expectancy, population rate growth, number of physicians, etc. Findings indicate that health expenditure expressed as a percentage of GDP is negatively affected by deposit interest rate and positively influenced by population aged 65 years old and over, life expectancy, mortality rate, and number of physicians for 1,000 people. On the other hand, remittances positively affect household out-of-pocket expenditure and external health expenditure. Remittance flows are significant in driving health care expenditures when compared to income such as GDP per capita. These income flows from abroad may contribute to stabilization in the use of health care services by poorer households or those households lacking health care coverage. This paper certainly contributes to the larger discussion about the relationship between socioeconomic factors and the welfare state.

Keywords: Health Care Expenditure, Out-of-Pocket Expenses, Remittances

Authors' individual contribution: Conceptualization — E.H.K. and K.K.; Methodology — E.H.K.; Formal Analysis — E.H.K.; Investigation — E.H.K. and K.K.; Data Curation — E.H.K.; Writing — Original Draft — E.H.K. and K.K.; Writing — Review & Editing — E.H.K. and K.K.; Visualization — E.H.K. and K.K.; Supervision — E.H.K.; Project Administration — E.H.K. and K.K.

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

JEL Classification: I11, I15, F24

Received: 06.12.2022
Accepted: 22.08.2023
Published online: 24.08.2023

How to cite this paper: Kalaj, E. H., & Kalaj, K. (2023). Evaluation of socioeconomic aspects triggering health care spending [Special issue]. Journal of Governance & Regulation, 12(3), 206–213. https://doi.org/10.22495/jgrv12i3siart2

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

This research aims to test the relationship between dimensions of paternalistic leadership and dimensions of organizational commitment in the information technology (IT) sector of Istanbul. Two separate questionnaires were adapted for measuring dimensions of paternalistic leadership (Erben & Güneşer, 2008) and organizational commitment (Allen & Meyer, 1990). Data were collected at two different points in time from such employees of the IT sector of Istanbul who have been working with the same manager for at least six months. In all, 350 pairs of questionnaires were distributed and only 248 pairs of questionnaires were received. Three separate multiple regression analyses were used as the statistical technique. Results indicated that two of the dimensions of paternalistic leadership, namely benevolent leadership and moral leadership, have a significant relationship with the three dimensions of organizational commitment, namely affective, normative, and continuance commitment. However, authoritarian leadership is found to be negatively associated with affective commitment, whereas, it does not have any significant association with normative and continuance commitment. Therefore, it is concluded that benevolent leadership and moral leadership can be instrumental in enhancing the level of organizational commitment among the employees, whereas, authoritarianism can be counterproductive in nature. Hence, the study provides the framework to the managers in the IT sector of Istanbul for enhancing the organizational commitment among the employees.

Keywords: Paternalistic Leadership, Organizational Commitment, Affective Commitment, Normative Commitment, Continuance Commitment

Authors' individual contribution: Conceptualization — M.M.G. and M.M.S.K.; Methodology — M.M.G., S.E.A., and A.G.; Investigation — E.P.S., S.E.A., and A.G.; Resources — M.M.G., E.P.S., S.E.A., and A.G.; Writing — Original Draft — M.M.G., M.M.S.K., E.P.S., S.E.A., and A.G.; Writing — Review & Editing — M.M.G., M.M.S.K., E.P.S., S.E.A., and A.G.; Supervision — M.M.S.K.

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

JEL Classification: M10, M12, M15

Received: 08.11.2022
Accepted: 22.08.2023
Published online: 24.08.2023

How to cite this paper: Ghayas, M. M., Khan, M. M. S., Singh, E. P., Alajlani, S. E., & Ghafar, A. (2023). Paternalistic leadership and organizational commitment: Evidence from the information technology sector. Corporate & Business Strategy Review, 4(3), 159–166. https://doi.org/10.22495/cbsrv4i3art16

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

Public service quality has been a significant issue in Indonesia (Lanin & Hermanto, 2019) along with woman's representation in politics (Aspinall et al., 2021). This study investigates the effect of woman's representation in the local government head and legislative positions on public service quality in Indonesian local governments. We use secondary data from the Ministry of Internal Affairs, a local government website, and the Indonesia Statistics Bureau from 2016–2019, analyzed with panel data regression analysis. Overall, we find that local government public service quality is at a high level. Meanwhile, women's political representation in Indonesian local government is still considerably low, both in legislative and top executive positions. Empirical findings demonstrate that women's representation in the legislative board provides a positive impact on public service quality while women's local government head has no significant effect. The effect is consistent both in district local governments and city local governments observations. Our study provides recommendations that suggest that women's representation in local politics should be increased to promote gender equality which leads to better public governance.

Keywords: Indonesia, Local Government, Public Service Quality, Women Legislators, Woman Local Head

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

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

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

Received: 08.11.2022
Accepted: 21.08.2023
Published online: 24.08.2023

How to cite this paper: Aryani, Y. A., Gantyowati, E., Nurrahmawati, A., Arifin, T., & Sutaryo, S. (2023). Women's political representation in local government: Its impact on public service quality [Special issue]. Corporate Governance and Organizational Behavior Review, 7(3), 375–384. https://doi.org/10.22495/cgobrv7i3sip12

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

The success or development of an agency is determined by its human resources. Organizations or agencies need employee development programs because employee development activities are very important for employee progress because it involves activities and activities carried out by employees, this shows that organizations or agencies care about their employees and expect employees to develop. This study aims to examine the effect of management work tools on work productivity, either directly or through productivity and accountability. To examine the effect of operational work tools on work productivity, either directly or through productivity and accountability. The data collection technique used is a questionnaire. Analysis of the data used is path analysis using the SmartPLS application. Of the 6 hypotheses proposed, only 2 hypotheses were accepted, namely operational work tools and a significant positive effect on employee performance. Operational work tools have a positive and significant effect on employee performance through productivity. This gives an indication that the availability of operational work tools helps employees improve performance. Thus, the role of the leadership is expected to provide the maximum possible facilities.

Keywords: Management Work Tools, Operational Work Tools, Productivity, Accountability, Employee Performance

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

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

JEL Classification: J24, J53, H83

Received: 03.09.2022
Accepted: 21.08.2023
Published online: 23.08.2023

How to cite this paper: Taliang, A., Rijal, S., Niswaty, R., Herman, & Arhas, S. H. (2023). Employee performance: The role of operational work tools toward productivity [Special issue]. Journal of Governance & Regulation, 12(3), 198–205. https://doi.org/10.22495/jgrv12i3siart1

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Abstract

Sustainability in the banking sector is considered as a metaphor for a well-built economy. Taking into account its several aspects, efficiency and financial performance always make a strong connection with the resilience and stability of this sector. In light of this notion, this paper finds out the core drivers of financial sustainability in a mixed-method framework. Employing both qualitative and quantitative methods, this paper reveals the key factors of efficiency and financial performance that reinforce the financial sustainability of banks. Rethinking the drivers of efficiency and performance that create a bridge with sustainability always provides an incentive to the regulatory authorities and policymakers to reconsider the paradigm of economic sustainability of the banking sector. This paper also contributes to the existing literature by illuminating the concept of financial sustainability and exploring how banks secure it through some strategic policies that ensure proper maneuvering of the factors responsible for efficiency and financial performance.

Keywords: Banking Sector, Financial Sustainability, Banking Efficiency, Sustainable Financial Performance, Sustainable Banking Practice, Sustainability

Authors' individual contribution: Conceptualization — A.-U.-Z. and M.T.A.; Methodology — A.-U.-Z., M.S.H., and M.T.A.; Software — M.S.H. and M.T.A.; Validation — A.-U.-Z., M.S.H., and M.T.A.; Formal Analysis — M.S.H., and M.T.A.; Investigation — A.-U.-Z.; Resources — A.-U.-Z., M.S.H., and M.T.A.; Data Curation — A.-U.-Z. and M.T.A.; Writing — Original Draft — A.-U.-Z.; Writing — Review & Editing — A.-U.-Z. and M.T.A.; Visualization — A.-U.-Z. and M.T.A.; Supervision — M.S.H. and M.T.A.; Funding Acquisition — A.-U.-Z.

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

JEL Classification: C33, G21, G32, L25, M21

Received: 11.05.2023
Accepted: 21.08.2023
Published online: 23.08.2023

How to cite this paper: Ashik-Uz-Zaman, Hossain, M. S., & Abedin, M. T. (2023). Route to financial sustainability: Implications in a mixed method framework [Special issue]. Corporate Ownership & Control, 20(3), 386–407. https://doi.org/10.22495/cocv20i3siart13