Abstract

Corporate boards are one of the crucial factors for the organization to focus on environmental, social, and governance (ESG) activities of firms. ESG operations provide insight into the social and environmental viability of companies. The impact of board structure on ESG varies per nation based on their economic situation and business policies. In developed nations, corporations implement ESG norms in their business strategies voluntarily, however, in India, these practices are mandated for a subset of companies. This became the motivation for the authors to explore the nexus between existing corporate board structure and ESG practices. The sample has been taken from the listed firms of the Nifty-500 index spanning the period of 10 years from 2012 to 2022. Dynamic panel data estimations are applied through a fixed effect model. The findings revealed that chief executive officer (CEO) duality has a significant negative relationship with ESG performance which goes against the belief of stakeholder theory. Whereas board size, board independence, and board qualification have a significant positive influence on ESG performance. Further findings revealed that board size has no significant effect on governance performance. Policymakers should enact new regulations on the CEO's position in the organization, to make corporate governance responsible for improved sustainable and ESG performance.

Keywords: Corporate Governance, ESG, SDG, Panel Data, India

Authors' individual contribution: Conceptualization — B.A.B., M.K.M., and N.G.; Methodology — B.A.B; Software — B.A.B.; Validation — N.G.; Writing — Original Draft — M.K.M.; Writing — Review & Editing — M.K.M. and N.G.; Supervision — N.G.

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

JEL Classification: C4, G3, G11, M1, M14, Q5

Received: 17.10.2022
Accepted: 18.05.2023
Published online: 26.05.2023

How to cite this paper: Bhat, B. A., Makkar, M. K., & Gupta, N. (2023). Corporate board structure and ESG performance: An empirical study of listed firms in the emerging market. Corporate Governance and Sustainability Review, 7(2), 8–17. https://doi.org/10.22495/cgsrv7i2p1

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

Abstract

This paper investigates the impact of female chief executive officers (CEOs) on women's representation on the board of directors (BoD). As scholars maintain that positive effects exerted by board gender diversity on firms' performance depend on the achievement of a critical mass, we focus on the role of female CEOs as a determinant of the number of appointed women in the context of family businesses, exploring how the persistence of gender stereotypes, along with homosocial reproduction and individual socio-emotional wealth (SEW) objectives affect tokenism phenomena. We test our hypothesis on a sample of 70 listed family firms in the 2014–2021 period. Consistently with our prediction, our findings provide evidence of a negative association between female CEOs and the number of female directors, thus suggesting that family businesses' dominant male coalitions and SEW matters may hinder female inclusiveness to avoid inter-group dysfunctionalities in decision-making.

Keywords: Female CEO, Critical Mass, Tokenism, Socio-Emotional Wealth, Board Gender Diversity, Dominant Coalition

Authors' individual contributions: Conceptualization — I.G. and C.D.; Methodology — I.G.; Formal Analysis — C.D.; Writing — Original Draft — I.G. and C.D.; Writing — Review & Editing — I.G. and C.D.; Visualization — I.G. and C.D..; Funding Acquisition — C.D.

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

JEL Classification: L21, L25, M10

Received: 12.04.2023
Accepted: 25.05.2023
Published online: 26.05.2023

How to cite this paper: Galavotti, I., & D'Este, C. (2023). Female CEO and board composition: A gender rivalry approach to family firms. Corporate Board: Role, Duties and Composition, 19(1), 8–19. https://doi.org/10.22495/cbv19i1art1

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

Abstract

The fast growth of science and technology, particularly in the field of information technology (IT), has been of immense value to many countries (Vargo et al., 2021). Consequently, digital skills are crucial in the digital age. This study attempts to investigate the elements that influence Thai citizens' digital technology proficiency. To analyse the data, a linear regression analysis was undertaken. Age, education level, the average cost of digital devices in use, the primary reason for deciding to purchase a digital device, Internet package influencing digital device usage and access, speed, and availability of Internet network connectivity, stability of the Internet network, and the speed and stability of the Internet network being proportional to the cost of the Internet were found to influence the digital technology skills of Thai citizens. The study suggests, based on its results, that the government and relevant sectors should provide training in digital skills that is appropriate for people of diverse ages, as age is a crucial determinant of digital abilities.

Keywords: Digital Technology, Skill, Thai

Authors' individual contribution: Conceptualization — M.D., T.C., T.K., K.J., and V.C.; Methodology — M.D., T.C., T.K., K.J., and V.C.; Software — M.D., T.K., and K.J.; Formal Analysis — M.D. and T.K.; Investigation — M.D.; Resources — M.D., T.C., T.K., K.J., and V.C.; Writing — Original Draft — M.D., T.C., T.K., K.J., and V.C.; Writing — Review & Editing — M.D., T.C., T.K., K.J., and V.C.; Visualisation — M.D., T.C., T.K., K.J., and V.C.; Supervision — M.D., T.K., and V.C.

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

JEL Classification: I25, I21, O33

Received: 13.08.2022
Accepted: 24.05.2023
Published online: 26.05.2023

How to cite this paper: Doungpitak, M., Chomtohsuwan, T., Kraiwanit, T., Jangjarat, K., & Chutipat, V. (2023). Factors influencing digital technology skills in the developing country [Special issue]. Corporate & Business Strategy Review, 4(2), 251–259. https://doi.org/10.22495/cbsrv4i2siart4

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

Abstract

Given that volatility influences decisions about currency rates, monetary policy, and macroeconomic policy, it is crucial to predict and anticipate volatility in emerging economies. The study employed generalized autoregressive conditional heteroskedasticity (GARCH) asymmetric models to estimate and forecast exchange rate dynamics in developing countries. We found that South Africa model had similar variance and covariance proportion of 0.99356 percent and 0.995901 percent respectively and the exchange rate could rise or fall by 2 to 6 units of rand, in exchange for USD. In Kenya, exchange rates continually exhibited steady rise monthly with extremely low mean absolute percentage error of 0.01568 percent and this demonstrates how strongly the model predicts Kenya's future currency rates while the variance chart supports absence of persistence. In Ghana, exchange rates are projected to increase significantly as 99.5 percent of unsystematic error was un accounted for in the model. Volatility is highly persistent in Nigeria; hence the forecasting model reported a high error rate by taking 1.06 percent of the symmetric error into cognizance. Kenya, Ghana, and Mauritius had asymmetry in currency volatility, revealing turbulence in exchange rates when the bad news hit the market. Hence, local currencies are rendered worthless in the foreign exchange market.

Keywords: Forecasting, Volatility, Currency Rates, Asymmetric Effects, Africa

Authors' individual contribution: Conceptualisation — D.U. and H.O.O.; Methodology — D.U., S.E.E., S.S.U., M.A.U., D.I., E.O., D.I., A.N.T., and H.O.O.; Software — D.U., S.E.E., S.S.U., and M.A.U.; Validation — S.E.E., S.S.U., D.I., E.O., D.I., A.N.T., and H.O.O.; Formal Analysis — D.U., S.E.E., M.A.U., and D.I.; Investigation — D.U., M.A.U., D.I., and D.I.; Data Curation — D.U., M.A.U., D.I., E.O., and A.N.T.; Writing — D.U., S.E.E., S.S.U., M.A.U., D.I., E.O., D.I., A.N.T., and H.O.O.; Supervision — D.U., S.E.E., D.I., and E.O.

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

JEL Classification: F31, E47, C53

Received: 21.09.2022
Accepted: 22.05.2023
Published online: 25.05.2023

How to cite this paper: Umoru, D., Effiong, S. E., Umar, S. S., Ugbaka, M. A., Iyaji, D., Okpara, E., Iyayi, D., Tizhe, A. N., & Omomoh, H. O. (2023). Forecasting exchange rate dynamics in developing countries [Special issue]. Corporate & Business Strategy Review, 4(2), 238–250. https://doi.org/10.22495/cbsrv4i2siart3

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

This issue of the journal Corporate Governance and Organizational Behavior Review was published on May 25, 2023.

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

How to cite: Chidiac El Hajj, M. (2023). Editorial: Unveiling the intersection of governance and behavior: Insights from varied domains [Special issue]. Corporate Governance and Organizational Behavior Review, 7(2), 204–206. https://doi.org/10.22495/cgobrv7i2sieditorial

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

Abstract

Nowadays, we notice an increase in the use of technology, and on the other hand, we can say that it has an impact on the increase in cases of hate speech. As Wilson and Land (2021) have pointed out, crimes and hate speech in recent years have taken a trend of rapid development, where as a consequence the language of hatred, which however is not direct can contribute to violence. The purpose of this paper is to research the behavior and approach of individuals to the forms and causes of hate speech as well as to find the factors that manifest these acts towards the persons who are attacked. In this paper, the analytical method, the true study, and legal positivism are used. First, the role of technology and highlights are analyzed in the increase of hate crimes as well as the forms of performances of these acts. The causes that increase these influences of hatred nowadays are the social categories. With the method of legal positivism, the local and regional jurisdiction and the role of the provisions determined by the Constitution in the country and the laws in force have been reflected. The results of the survey show a high assessment of people who have been attacked by the use of technology and hate crimes.

Keywords: Governance, Human Rights, Hate Crimes, Technology

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: K24, K38, O35

Received: 04.10.2022
Accepted: 19.05.2023
Published online: 24.05.2023

How to cite this paper: Bajraktari, H. (2023). Human rights and good governance to identify hate crimes on social networks. Corporate Law & Governance Review, 5(1), 151–157. https://doi.org/10.22495/clgrv5i1p13

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

Abstract

Employee retention is a process in which the employees are encouraged to remain with the organization for a lifetime or maximum period of time (Aburub, 2020). This research is conducted to examine the effect of bonuses for the Lunar New Year holiday on employee retention in firms in Vietnam. The authors develop the results of previous studies, in which the firms can reward employees for their retention. This study was conducted in Hanoi City in Vietnam through an online and direct questionnaire of 208 people. Based on the data collected, we run Cronbach's alpha, exploratory factor analysis (EFA), Kaiser–Meyer–Olkin (KMO) test, Barlett's test, and regression by using Statistical Package for the Social Sciences (SPSS) software. The results show that employee retention in firms is influenced by the total value of bonuses for the Tet holiday (GT), bonuses for the Tet holiday in kind (HV), and the process and the formula to calculate bonuses for the Tet holiday (QC). Moreover, it recognizes the higher important role of bonuses for the Lunar New Year holiday in the activity of firms. Besides, this paper's findings are critical for firms in effectively designing human resources policies in confronting labor force fluctuations. Based on the findings, some recommendations are proposed relating to employee benefits for enhancing employee retention in firms.

Keywords: Bonuses for the Holiday, Lunar New Year (Tet), Employee Retention, Firms

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

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

JEL Classification: E24, E64, J31, J40, K31

Received: 03.02.2023
Accepted: 22.05.2023
Published online: 24.05.2023

How to cite this paper: Do, T. T., Pham, V. H., & Vu, H. P. (2023). The effect of bonuses for holidays on employee retention in firms. Journal of Governance & Regulation, 12(2), 156–165. https://doi.org/10.22495/jgrv12i2art14

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

Abstract

In this research paper, we focused on the variable that could influence the sustainability of banks. According to Bahrain Economic Vision 2030, sustainability is one of the guiding principles. Ninety-nine (99) managers working in different banks have participated in the survey. The perspectives of the managers are considered in this study. The collected data was tested in SmartPLS 3.0 to have more accuracy in the results. The four hypotheses were decided to be accepted or rejected based on the path analysis, specifically the p-value significance at 0.01, 0.05, and 0.10. Descriptive statistics, factor analysis, correlation, regression, reliability, discriminant validity tests were conducted. From the hypothesis testing, it is relevant that there is no direct relation between organizational learning and sustainability. It is indirectly related to innovation and change. The model verification is based on the samples collected from the managers of each bank. However, the hypothesis requires further verification in different business contexts. There are different factors influencing sustainability, which have not been included in our research such as economic, environmental, and social factors. These could be analyzed in future research.

Keywords: Innovation and Change, Sustainability, Organizational Learning, Banks, Economic Vision, Managers, Path Analysis

Authors' individual contribution: Conceptualization — J.A.J. and D.C.D.; Methodology — J.P.S. and S.H.Y.A.; Formal Analysis — J.A.J. and J.P.S.; Writing — Original Draft — J.A.J., D.C.D., and J.P.S.; Writing — Review & Editing — S.H.Y.A.; Supervision — D.C.D. and S.H.Y.A.; Project Administration — J.A.J. and J.P.S.

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

JEL Classification: O31, O350, O360, M000, M140

Received: 30.12.2022
Accepted: 23.05.2023
Published online: 24.05.2023

How to cite this paper: John, J. A., Diotay, D. C., Sankar, J. P., & Alawi, S. H. Y. (2023). The mediating role of innovation and change in the relationship between organizational learning and the sustainability of banks [Special issue]. Corporate Governance and Organizational Behavior Review, 7(2), 399–408. https://doi.org/10.22495/cgobrv7i2sip18

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

Abstract

The importance of intellectual capital (IC) in the financial sector has become increasingly evident in the Fourth Industrial Revolution (4IR). Tayles et al. (2007) have shown that companies must acknowledge, incentivize, and oversee their IC to achieve sustainable performance excellence. This study investigates the impact of IC on the financial performance of Sharia banking in Indonesia and assesses the role of good corporate governance (GCG) in enhancing the connection between IC and financial performance. Data were collected from 14 Islamic banks throughout Indonesia based on quarterly data over five years, from 2015 to 2019, and involved 266 observations. This study employed the generalized method of moments (GMM) estimator to examine empirical data and observed that intellectual capital has a beneficial impact when GCG is a moderator. The paper adds to the current literature by introducing a new analytical framework that explores the role of GCG in moderating the relationship between intellectual capital and financial performance.

Keywords: Intellectual Capital, Corporate Governance, Financial Performance, Islamic Banking

Authors' individual contribution: Conceptualization — A.F. and T.A.S.; Methodology — H.K., A.F., and W.R.A.; Formal Analysis — T.A.S. and A.F.; Writing — Original Draft — A.F. and T.A.S.; Writing — Review & Editing — H.K., A.F., and W.R.A.; Supervision — W.R.A. and H.K.; Project Administration — T.A.S.

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

JEL Classification: G3, M48, P43

Received: 28.04.2022
Accepted: 19.05.2023
Published online: 23.05.2023

How to cite this paper: Faozan, A., Syah, T. A., Kusuma, H., & Adawiyah, W, R. (2023). Good corporate governance and moderating the influence of intellectual capital on the financial performance: The study of the Islamic banking industry [Special issue]. Corporate & Business Strategy Review, 4(2), 225–237. https://doi.org/10.22495/cbsrv4i2siart2

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

Abstract

In the presence of risky debt, the manager's incentives change from refusing to accept projects with more risk (risk-shifting) and rejecting projects with less risk (risk-avoidance). Managers with all level confidence produce different biases of behavior about risk and uncertainty. The paper aims to analyze the influence of the debt to asset ratio (DAR) and managers' overconfidence level on business risk. After extremely censored data 10 percent above, the type of pooled data collected is 3016 observation units of companies listed on the Indonesia Stock Exchange (IDX) period 2008–2019. Dummy regression was used for analysis with DAR, and level of overconfidence manager (high, upper middle, upper lower, low of overconfidence) is the explanatory variable, and business risk is the dependent variable. The presence of risky debt does not always produce risk-shifting, but in the reverse form is risk avoidance (underinvestment in risky projects). Managers fear losing their jobs and earning a bad reputation, and the results have distorted the managers' all-level confidence role.

Keywords: Leverage, Risk, Overconfidence, Risk-Shifting, Risk-Avoidance

Authors' individual contribution: Conceptualization — S.M. and A.Y.; Methodology — S.M. and A.Y.; Validation — A.P.W.; Formal Analysis — A.Y. and A.P.W.; Investigation — S.M. and A.Y.; Data Curation — A.P.W.; Writing — Original Draft — S.M. and A.Y.; Writing — Review & Editing — S.M., A.Y., and A.P.W.; Supervision — S.M.; Project Administration — A.P.W.

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

JEL Classification: G41, G32

Received: 27.10.2022
Accepted: 22.05.2023
Published online: 23.05.2023

How to cite this paper: Martono, S., Yulianto, A., & Wijaya, A. P. (2023). Overconfidence managers and the presence of leverage risk [Special issue]. Corporate Governance and Organizational Behavior Review, 7(2), 392–398. https://doi.org/10.22495/cgobrv7i2sip17

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

Abstract

During the 1990s and 2000s, the importance of strong corporate governance (CG) was acknowledged more widely due to the occurrence of major corporate failures. As a result, there was a greater focus on corporate responsibility, transparency, disclosure practices, and risk management to enhance accountability. Moreover, following the 2008 financial crisis, CG has become an increasingly important topic in the fields of business and economics in recent years, particularly. Despite this, there has been no comprehensive examination of the subject to date. The current study seeks to address this gap by providing a retrospective analysis of the emergence of CG in business and economics. The bibliometric methodology was used in this research involving four steps: defining the aims and scope of the study; selecting appropriate techniques for the analysis; collecting data; and running the analysis and presenting the findings. Thus, bibliometric analysis was conducted on 3126 scientific research articles, retrieved from the Scopus database, which combined the keywords of CG and economics and business to identify and map the cumulative scientific knowledge in these fields by analyzing large volumes of unstructured data in a rigorous manner and exploring the emerging areas in the fields. Co-citation and bibliometric-coupling analyses were employed to determine the thematic structure of CG research from 2008 to 2022, revealing 7 clusters of research that highlight the focus and directions of the field. VOSviewer and MS Excel software were used to analyze the data and identify the most active scientific contributors in terms of countries, institutions, sources, documents, and authors. Our analysis demonstrated an increasing publication trend in CG research from 2008 onwards, with a particular emphasis on its application in business and economics. Additionally, the top three contributors to the literature were found to be the UK, the USA, and Australia. The study outlines several potential avenues for future research that could deepen the body of knowledge in this field of CG.

Keywords: Corporate Governance, Sustainability, Corporate Social Responsibility (CSR), Shareholders and Board, Executive Compensation, Performance Analysis, Science Mapping

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

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

JEL Classification: G3, L5, M14, N40

Received: 20.03.2023
Accepted: 19.05.2023
Published online: 22.05.2023

How to cite this paper: Albahsh, R., & Al-Anaswah, M. F. (2023). Bibliometric analysis of corporate governance: Past, present, and future research agenda. Corporate Ownership & Control, 20(3), 146–168. https://doi.org/10.22495/cocv20i3art10

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

Abstract

This study uses three dimensions — ability, virtue and integrity, and accounting information quality — to demonstrate trust's impact on small and medium-sized enterprises (SMEs) access to finance in Tanjungpinang. A questionnaire was delivered directly or via Google Form to four Tanjungpinang sub-districts. The questionnaire's Likert scale represents SME business actors' opinions. The accounting information quality and availability to credit variables included ten statements apiece, whereas the trust dimension had five reports. To test the hypotheses, the data were analyzed using the Statistical Package for the Social Sciences (SPSS) software. Ability, compassion, integrity, and financial information all positively and significantly affected credit access, according to hypothesis testing. Validates earlier findings that trust can overcome information imbalance between banks and SMEs when lending or borrowing. Banks use financial data and trust evaluations in SMEs to distribute loans. The bank recommends quality financial report information for small and medium firms to get loans. This study differs from micro-SMEs (MSMEs) research since tiny enterprises are not a critical necessity.

Keywords: SMEs, Trust, Ability, Virtue, Integrity, Quality of Financial Information, Access to Credit

Authors' individual contribution: Conceptualization — R.U. and D.S.; Methodology — R.U. and D.S.; Writing — Original Draft — R.U. and D.S.; Writing — Review & Editing — R.U. and D.S.

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

JEL Classification: G21, M10, M40

Received: 15.06.2022
Accepted: 19.05.2023
Published online: 22.05.2023

How to cite this paper: Utami, R., & Setiawan, D. (2023). Banking and trust-based SMEs toward credit access [Special issue]. Corporate Governance and Organizational Behavior Review, 7(2), 385–391. https://doi.org/10.22495/cgobrv7i2sip16

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

Abstract

The purpose of this work is the analysis of consumer behavior, as well as the analysis of economic, social, cultural, and psychological influences on consumers when choosing and purchasing special products. According to Schiffman and Kanuk (2009), consumer behavior is the behavior that consumers manifest during the search, purchase, use, evaluation, and disposal of products and services that they expect to satisfy their needs, and the purchase includes a psychological process according to which consumers who have identified their needs, collect information, and find the way how to fulfill their needs and desires (Kurtz & Boone, 2009). During the research, comparative economic analysis methods and statistical methods will be used. As an instrument, the multifactor leadership questionnaire (MLQ) was used as a psychometric method (Bass & Avolio, 2000), and with the psychographic analysis that measures the lifestyle. The results of the research will be very useful because they will help further research on this issue. As many times as research on this topic are done, we will see that the results are different because consumer behavior is very complex and changing, therefore continuous study is required, which will always include all the changes that are made in the environment.

Keywords: Consumer Behavior, Influential Determinants, Decision-Making, Consumer Satisfaction

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

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

JEL Classification: A1, I0, I12, J1, J2

Received: 30.06.2022
Accepted: 16.05.2023
Published online: 19.05.2023

How to cite this paper: Memeti Karemani, S., & Memeti, E. (2023). Market competition determinants of consumer behavior [Special issue]. Corporate & Business Strategy Review, 4(2), 208–224. https://doi.org/10.22495/cbsrv4i2siart1

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

Abstract

This article examines the role and importance of institutional and non-institutional actors in Kosovo's foreign policy processes. It is based on a review of official documents, non-governmental organization (NGO) research and academic literature, using a research method of material analysis. The paper's findings reveal Kosovo's challenges in its policy-making processes and emphasise the essential role of international factors and NGOs. The article provides a comprehensive understanding of the challenges and importance of Kosovo's foreign policy and the role and influence of institutional actors, such as the ruling party and opposition parties, and non-institutional actors, such as international actors and NGOs. The results emphasise the need for the engagement and support of the international community in Kosovo's foreign policy efforts. In conclusion, the paper contributes to the ongoing discussion on the policy-making processes in Kosovo and its foreign policy. Judah (2012) emphasised that for Kosovo to have a successful foreign policy, it must have a flourishing internal (domestic) policy because one cannot be successful without the other. The article emphasises the importance of considering institutional and non-institutional actors in the policy-making processes in Kosovo.

Keywords: Institutional and Non-Institutional Actors, Policy-Making Processes, Kosovo, International Factor, NGOs

Authors' individual contribution: Conceptualization — N.B.; Methodology — D.A.; Investigation — N.B. and D.A.; Writing — Original Draft — D.A.; Writing — Review & Editing — N.B.

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

JEL Classification: Y70, Y60, Y50

Received: 25.11.2022
Accepted: 16.05.2023
Published online: 18.05.2023

How to cite this paper: Brovina, N., & Arifi, D. (2023). Institutional and non-institutional actors in policy-making processes: A case study. Journal of Governance & Regulation, 12(2), 147–155. https://doi.org/10.22495/jgrv12i2art13

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

Abstract

While a founder's hard work and intelligence are imperative for business success, it also depends on the workforce at every level of the hierarchy. For this reason, academics and organizational managements are increasingly interested in research on organizational performance and human capital. In addition, emphasis is being made on the significance of organizational culture as a catalyst or inhibitor for organizational performance. The petroleum industry is Kuwait's largest industry, making up about fifty percent of the country's gross domestic product (GDP). Thus, it is concluded that the relevance to the following paper's introduction has become appropriate in light of the most recent and recurring papers. This makes it important to analyze the impact of dimensions of human capital, such as skills, attitude, and knowledge, on organizational performance. This study examined a population of Kuwaiti workers employed at private oil and gas companies. Out of 690 questionnaires, 512 responses were returned, and 373 of these were deemed valuable for analysis. The data analysis was done using structural equation modelling (SEM) with the SmartPLS 3.0 software. Probability random sampling was utilized for sample selection in this study. Skills, attitudes, and knowledge significantly affect organizational performance among Kuwait's employees who work in the private gas and oil sector.

Keywords: Human Capital, Skills, Knowledge, Attitude, Power Distance, Organizational Performance, Kuwaiti Private Oil and Gas Industry

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: L20, L21, L23

Received: 16.01.2023
Accepted: 15.05.2023
Published online: 18.05.2023

How to cite this paper: Baroun, A. (2023). Would attitude moderate organizational performance? A case study on the oil and gas industry [Special issue]. Corporate Governance and Organizational Behavior Review, 7(2), 373–384. https://doi.org/10.22495/cgobrv7i2sip15

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

Abstract

The extension of the risk management models to the broad sustainability concept is an open issue in both the academic and financial communities. The current state of the art for the risk measurement models is not satisfactory. There are many weaknesses in the data feasibility and the debate about what the new models should measure is still open. We propose a model that aims to improve the existing market risk models by capturing the sustainability risk sources. The starting point is the incremental risk charge (IRC) model, namely a 1 year 99.9 percent value at risk that covers default and migration risk. We extend the traditional model by defining the environmental incremental risk charge (E-IRC), with two enhancements: 1) by some data analysis and statistical techniques we introduce some new environmental, social, and governance (ESG) risk factors to better explain the portfolio behavior; 2) we adjust the default probabilities provided by the rating agencies by combining the green premium (lower spread) observed in the markets with the available ESG score for each obligor. The new model was tested on a real portfolio by a Montecarlo engine. The model does not affect too much the existing IRC results, so allowing continuity in the reporting process. The main advantage of E-IRC is the availability of a more effective risk decomposition process, where the ESG contributions can be properly highlighted.

Keywords: Risk Management, Financial Regulation, Climate Change, Statistical Regression, Risk Measures, Financial Reporting

Authors' individual contribution: Conceptualization — M.B., A.M., and L.T.; Methodology — M.B. and L.T.; Software — A.M.; Investigation — M.B. and A.M.; Data Curation — A.M.; Validation — M.B. and L.T.; Writing — Original Draft — M.B. and L.T.; Writing — Review & Editing — M.B.

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

JEL Classification: C10, C13, G10, G20, G28

Received: 03.03.2023
Accepted: 15.05.2023
Published online: 18.05.2023

How to cite this paper: Bonollo, M., Menegon, A., & Terzi, L. (2023). Climate and environmental risk factors in the market risk field: An extended model. Risk Governance and Control: Financial Markets & Institutions, 13(2), 17–27. https://doi.org/10.22495/rgcv13i2p2

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 May 18, 2023.

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

How to cite: Modarelli, G. (2023). Editorial: Combining CSR, public-private policies, inclusiveness and complex challenges for integral well-being by reciprocity relations — An agenda for global governance. Corporate & Business Strategy Review, 4(2), 4–6. https://doi.org/10.22495/cbsrv4i2editorial

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Abstract

Although e-commerce in general and platform business models in e-commerce report steadily increasing revenues, establishing e-commerce ecosystems is not a guaranteed success per se. Potential platform owners must carefully plan the ignition of the ecosystem to reach a critical mass of customers. This critical mass is crucial for the platform to benefit from direct and indirect network effects. However, research so far has not provided clear guidance and strategies on how to successfully establish ecosystems in e-commerce. Therefore, we evaluated and demonstrated generic platform ignition strategies in e-commerce. Our evaluation is thereby based upon an established mathematical model for two-sided markets considering utility gains from indirect network effects and costs. The heterogeneity of the individual market sides is reflected in the form of sigmoidal distribution functions. Applying this model, we show that subsidies, seeding, marquee, single side, micro market, piggybacking, opening up, and big bang marketing are potential strategies for reaching a critical mass of participants in e-commerce ecosystems. We provide guidance for practitioners on how to establish successful e-commerce ecosystems. We contribute to the body of knowledge strategies in e-commerce ecosystems by bridging critical mass and network effects.

Keywords: E-Commerce Ecosystem, Platform, Two-Sided Market, Ignition Strategies, Critical Mass, Design Science

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

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

JEL Classification: D51, M30, L14

Received: 04.03.2023
Accepted: 15.05.2023
Published online: 17.05.2023

How to cite this paper: Wulfert, T., & Dennhardt, B. (2023). Establishing successful e-commerce ecosystems: Evaluating strategies for reaching a critical mass of participants. Corporate Ownership & Control, 20(3), 130–145. https://doi.org/10.22495/cocv20i3art9

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 May 17, 2023.

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

How to cite: Alkaraan, F. (2023). Editorial: Corporate governance and sustainability issues. Corporate Governance and Sustainability Review, 7(1), 4–6. https://doi.org/10.22495/cgsrv7i1editorial

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

Abstract

Public services (PS) in modern societies have become increasingly difficult to keep up with, creating a strain on governments with limited budgets. As a result, new ways of delivering public value must be sought. In order to better understand the factors that influence public services of the Thai provincial government agency public services (PGAPS), the authors conducted a stratified random sample survey of 400 individuals in a rural province of Northern Thailand in 2021. The latent variable path analysis used LISREL 9.10, with the results showing that internal competency factors (ICF) were ranked as very strong, external environment factors (EEF) as strong, and internal environment factors (IEF) as weak. All four hypotheses were also supported, with an individual's personal and educational factors having a significant effect on PGAPS. The authors suggest that gender could be used to limit corruption's influence and should be explored in greater detail in further studies. Effective PS delivery requires good governance, community stakeholder involvement, and cross-organizational collective leadership. Good governance should also enhance economic, social, and political development values. Additionally, this study provides valuable insights for municipalities to improve their implementation processes, increase transparency, and ensure fiscal responsibility (OECD & ADB, 2019).

Keywords: Co-Production, Ethics, Governance, Municipalities, Public Services, Thailand

Authors' individual contribution: Conceptualization — W.T., W.S., S.S., and R.S.; Methodology — W.T., W.S., S.S., and R.S.; Software — W.T. and W.S.; Validation — W.T., W.S., R.S., and S.B.; Formal Analysis — W.T., R.S., and S.B.; Investigation — S.S., R.S., and S.B.; Resources — W.T., R.S., and S.B.; Data Curation — W.T. and R.S.; Writing — Original Draft — W.T. and R.S.; Writing — Review & Editing — W.T., W.S., and R.S.; Visualization — W.T. and W.S.; Supervision — W.S., S.S., and R.S.; Project Administration — W.T., W.S., S.S., and R.S.

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

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

Received: 30.10.2022
Accepted: 12.05.2023
Published online: 16.05.2023

How to cite this paper: Thanapaet, W., Sutthisai, W., Soonthorn, S., Saiyaros, R., & Boonruan, S. (2023). Provincial government agency public services: An analysis of their internal competency, internal and external environment factors. Journal of Governance & Regulation, 12(2), 136–146. https://doi.org/10.22495/jgrv12i2art12

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Abstract

The paper proposes to intend the firm as a “nexus of stakeholders”, each bearing return-to-risk expectations about the sharing of the corporate performance. All the stakeholders must achieve their own satisfaction through the bargaining of contracts that must be sustainable, i.e., keep both the firm and its stakeholders-network alive in the long term. Governance is intended as the mechanism that gives a solution to the above puzzle. When both market and contracts are complete, an optimal solution can be easily found. But when incompleteness emerges, governance solutions can misallocate the firm performance among the stakeholders. This is the case when incomplete governance emerges. In fact, in incomplete contests, the stakeholders will negotiate the visible-only arguments of their contracts, this way binding also the invisible ones, i.e., those impacting anyway on their ex-post performance. This being the case, a governance risk premium (GRP) emerges in the medium-long run, impacting equity investors' return-to-risk performance, thus incentivizing a governance repackage. Such a GRP depends both on the actual grade of market completeness and the one of contracts as per the risk allocation made through time. The proposed methodology to detect GRP is then applied to the Italian case to test its strength. Results show that GRP inflates 39bp the cost of equity capital with the following break-down: 123bp as basic-GRP from operations which is increased +98bp for the GRP-informative component and reduced -191bp by GRP-managerial component; a GRP-behavioural component +90bp would lead GRP from operations up-to 120bp while sharing 81bp with debt capital leads the final figure down to 39bp (i.e., 123 + 98 – 191 + 90 – 81).

Keywords: Corporate Governance, Corporate Risk, Incomplete Markets, Incomplete Contracts

Authors' individual contribution: Conceptualisation — G.B. and G.M.M.; Methodology — G.M.M.; Validation — G.B.; Formal Analysis — G.B. and G.M.M.; Investigation — G.B. and G.M.M.; Resources — G.M.M.; Data Curation — G.M.M.; Writing — Originality Draft — G.M.M.; Writing — Review & Editing — G.B.; Visualization — G.B. and G.M.M.; Supervision — G.B.; Project Administration — G.B. and G.M.M.

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

JEL Classification: G34, G35, M10, M21, M51

Received: 05.10.2022
Accepted: 12.05.2023
Published online: 16.05.2023

How to cite this paper: Bertinetti, G., & Mantovani, G. M. (2023). In search of the corporate governance risk premium embedded into the cost of capital. Corporate Ownership & Control, 20(3), 112–129. https://doi.org/10.22495/cocv20i3art8

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Abstract

Globalisation, competitiveness, and digitalisation pronounce the need for quantitative analysts, who already represent a scarce skill. Add to this the increased debut of Millennials in the workforce with their own combination of needs and expectations and the need for effective talent management in itself becomes an urgency and a challenge. This paper aims to understand the talent management challenges faced by organisations in dire need of quantitative analysts. A sample of 196 quantitative analysts was drawn from a population of 361 using the simple random sampling technique. Data was collected using questionnaires and interviews. Factor analysis and Cronbach's alpha coefficient were respectively used to assess the validity and reliability of the questionnaire. Descriptive statistics were used to assess quantitative data whilst qualitative data was analysed using thematic analyses. The findings exhibit that pivotal to managing talent in the bank are the human resources practices of attraction, recruitment, and employee engagement. Furthermore, for talent management to be effective, there has to be a commitment to the process from all levels of the organisational structure. Also, Millennials value upskilling or development, knowledge management (Naim & Lenka, 2018; Wetprasit, 2016), and work-life balance more than monetary recognition. Recommendations are presented to provide organisations with guidelines on effective talent management models (Younas & Bari, 2020) and how to overcome talent management challenges and enhance the retention of their scarce resources.

Keywords: Quantitative Analysts, Scarce Skills, Fourth Industrial Revolution (4IR), Talent Management Challenges, Employee Retention

Authors' individual contribution: Conceptualization — L.X. and S.B.P.; Methodology — L.X. and S.B.P.; Validation — L.X.; Formal Analysis — L.X. and S.B.P.; Investigation — L.X.; Resources — S.B.P. and L.X.; Data Curation — L.X.; Writing — Original Draft — S.B.P.; Writing — Review & Editing — S.B.P.; Visualization — S.B.P.; Supervision — S.B.P.; Project Administration — S.B.P.; Funding Acquisition — L.X. and S.B.P.

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

JEL Classification: J24, O15, O33

Received: 08.06.2022
Accepted: 12.05.2023
Published online: 15.05.2023

How to cite this paper: Xulu, L., & Brijball Parumasur, S. (2023). Understanding talent management challenges in changing times and workforces [Special issue]. Corporate Governance and Organizational Behavior Review, 7(2), 360–372. https://doi.org/10.22495/cgobrv7i2sip14

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Abstract

The adoption of corporate social responsibility (CSR) practices has been recognized as a significant contributor to the success of companies. Companies that engage in CSR initiatives can achieve positive outcomes that align with economic, social, and environmental goals while maintaining a long-term perspective (Nimani et al., 2022). CSR has become an increasingly important issue for businesses in Vietnam, and several factors have been identified as significant predictors of CSR adoption by Vietnamese-listed enterprises. This study examines the impact of the size of the enterprise, corporate governance, owner structure, board gender diversity, business industry, innovation, and knowledge of environmental, social, and governance (ESG) issues on CSR adoption. The study finds that the size of the enterprise is positively related to CSR adoption. Additionally, corporate governance structures that prioritize stakeholder interests tend to promote greater CSR adoption, while a diverse ownership structure and a higher representation of women on corporate boards also positively influence. Companies in certain industries tend to adopt CSR more readily. Moreover, the study highlights the positive impact of innovation and knowledge of ESG issues on CSR practices. These findings provide valuable insights into the factors that contribute to CSR adoption and suggest that targeted interventions may be necessary to encourage more widespread adoption of CSR practices. Further research is needed to explore these factors in greater depth and to develop effective strategies for promoting CSR adoption in Vietnam.

Keywords: Corporate Social Responsibility (CSR), Impact Factors, Adoption, Emerging Market, Vietnamese-Listed Enterprises

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: G38, G18, M41, M43, M44

Received: 24.03.2023
Accepted: 10.05.2023
Published online: 12.05.2023

How to cite this paper: Tran, N. H. (2023). Impact factors on the adoption of corporate social responsibility: Empirical evidence from an emerging market [Special issue]. Corporate Governance and Organizational Behavior Review, 7(2), 350–359. https://doi.org/10.22495/cgobrv7i2sip13

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

Abstract

This paper aims to determine the impact of the coronavirus disease (COVID-19) on small and medium enterprises in Fiji, which are at risk of crisis. The COVID-19 pandemic exaggerated almost all nations and made small and medium-scale enterprises (SMEs) very vulnerable (Higgins-Desbiolles, 2020). This study recommends policies to stakeholders by reviewing the situation of SMEs in Fiji after the surge of the COVID-19 pandemic. Replies from SME owners were collected and analyzed using descriptive analysis and appropriate graphs. According to the findings, SMEs in Fiji have experienced negative consequences of COVID-19 in the way of shortages of supplies, carriage disruptions, decreased demand for products and services, decreased earnings and sales, inadequate operations, and lockup and staff layoffs. The impact of COVID-19 on SMEs is still being studied, which helps with proactive preparation for the fourth wave of the outbreak (Ashford et al., 2020). The use of samples and quality data set collected using the instrument adds value to the study's findings and their uniformity. The current body of knowledge in Fiji's SME sector strengthened the analysis of the sector's crisis consequences, which has previously gone unnoticed.

Keywords: COVID-19, SMEs, Demand, Fiji

Authors' individual contribution: Conceptualisation — V.H.P.; Methodology — V.H.P.; Investigation — V.H.P., N.D., and V.S.; Resources — V.H.P.; Writing — Original Draft — V.H.P., N.D., and V.S.; Writing — Review & Editing — V.H.P., N.D., and V.S.

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

JEL Classification: I2, G4, M2, M4

Received: 23.08.2022
Accepted: 08.05.2023
Published online: 11.05.2023

How to cite this paper: Prasad, V. H., Datt, N., & Sharma, V. (2023). An analysis of COVID-19 implications for SMEs in the emerging market. Corporate Ownership & Control, 20(3), 100–111. https://doi.org/10.22495/cocv20i3art7

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

Abstract

Efficiency is essential for an institution because it can measure how well resources are used to achieve its specific goals (Wahab & Rahman, 2011). Zakat institutions must be managed efficiently, so they are maximized in promoting socio-economic goals, especially poverty alleviation (Wahab & Rahman, 2013). This study aims to analyze the efficiency level of Baitul Mal districts/cities of Aceh Province in Indonesia. Efficiency measurement uses a nonparametric data envelopment analysis (DEA) approach during 2018–2020. DEA analyzes the interaction between input variables consisting of socialization costs, number of amil, and operational costs, with output variables comprising the total collection and distribution of zakat, infaq, and sadaqah (ZIS). The results show that 11 Baitul Mal out of 69 decision-making unit (DMU) (15.94%) are efficient overall, technical, and scale. As for technical efficiency, there are 16 Baitul Mal (23.19%) that are efficient, the remaining 26 Baitul Mal (40.58%) have a score below 60, and 27 Baitul Mal (36.23%) have a score above 60. Regency Baitul Mal Aceh Besar became the only Baitul Mal that achieved efficiency throughout the research period. The source of Baitul Mal's inefficiency comes from all variables. Baitul Mal must optimize socialization costs by 60.68%, operational costs by 33.60%, and the role of amil by 3.20%. Furthermore, Baitul Mal must increase the amount of ZIS collection by 46.29% and the distribution of ZIS by 52.84% to achieve efficiency.

Keywords: Efficiency, Zakat, Baitul Mal, Data Envelopment Analysis, Indonesia

Authors' individual contribution: Conceptualization — T.M.G. and E.E.; Methodology — M.H.Z. and E.E.; Investigation — T.M.G. and M.H.Z.; Resources — M.H.Z. and E.E.; Data Curation — M.H.Z. and E.E.; Writing — Original Draft — T.M.G. and E.E.; Writing — Review & Editing — M.H.Z. and E.E.; Supervision — T.M.G. and E.E.; Project Administration — M.H.Z. and E.E.; Funding Acquisition — T.M.G., M.H.Z., and E.E.

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

JEL Classification: L31, 035, P46

Received: 27.08.2022
Accepted: 09.05.2023
Published online: 11.05.2023

How to cite this paper: Ghufran, T. M., Zaenal, M. H., & Endri, E. (2023). Efficiency of zakat institutions: Evidence from an emerging economy [Special issue]. Corporate Governance and Organizational Behavior Review, 7(2), 338–349. https://doi.org/10.22495/cgobrv7i2sip12

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

Abstract

It has been observed that government hoards certain information that journalists should access and publish for the development of Cameroon. This study examines the extent to which government news sources in Cameroon hoard information, and how this affects journalism practice. Agenda setting (McCombs & Shaw, 1972) and gatekeeping (Lewin, 1947) are used. A total of 170 journalists were surveyed in Buea, Limbe, Douala, Yaounde, Bamenda, and Garoua. The journalists were selected based on their experiences in working with news sources. Findings suggest that 16.5 percent often get information from the Presidency, while 50.6 percent rarely do. Also, 27.1 percent often access information from the Prime Ministry, while 41.7 percent rarely do. Not even 50 percent of journalists have regular access to government ministers and ministries. Meanwhile, 44.1 percent often access communication units of government structures. Access to governors and regional delegates is relatively higher. Of the 17 sources examined in government regarding journalists' accessibility to information, mayors are the most accessible (57.6 percent). Generally, a significant relationship (p = 0.000) exists between access to government news sources and journalism practice. Lack of information access promotes unprofessionalism in practice (biased reporting, sensationalism, armchair journalism, fake news). To enhance professionalism, it is recommended that government news sources be more accessible to journalists.

Keywords: Information Hoarding, Government News Sources, Journalism Practice, Cameroon

Authors' individual contribution: Conceptualization — N.B.B., K.L.N., L. C.B.A., and S.N.N.; Methodology — N.B.B., K.L.N., L.-C.B.A., and S.N.N.; Formal Analysis — N.B.B., K.L.N., L.-C.B.A., and S.N.N.; Writing — Original Draft — N.B.B., K.L.N., L.-C.B.A., and S.N.N.; Writing — Review & Editing — N.B.B., K.L.N., L.-C.B.A., and S.N.N.

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

JEL Classification: D83, D91, N40, N47

Received: 27.09.2022
Accepted: 05.05.2023
Published online: 10.05.2023

How to cite this paper: Bakata, N. B., Ngange, K. L., Assala, L.-C. B., & Ndode, S. N. (2023). Governmental information hoarding and its effects on journalism practice. Corporate Law & Governance Review, 5(1), 129–150. https://doi.org/10.22495/clgrv5i1p12

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Abstract

This article evaluates the linkage between social factors and water services delivery in the biggest municipalities in South Africa for improved service delivery. The study is conducted against the failure of several studies to focus on social practices' impacts on service delivery. Social practices have huge impacts on service delivery and tend to have financial implications on municipalities (Morudu, 2017). Therefore, this article sought to introduce another dimension of addressing water service delivery challenges (WSDCs) by examining the relationship between social practices and service delivery. A multivariate regression analysis using the panel data (2013–2021) collected from the 20 largest municipalities in South Africa. While ordinary least squares (OLS) and feasible generalized least squares (FGLS) results show that job opportunities created have had a positive impact on service delivery performance (SDP), service delivery protests adversely influenced SDP. On the same note, expenditure on housing, population, and educational level produced a neutral effect on SDP. The results provide deep insights to policymakers and city managers to consider aligning social practices with a regulatory framework that governs the provisioning of water services. Although the paper provides vital information, further studies focus on reviewing and reconfiguring laws and regulations that govern social practices to further reduce the negative impacts of social practices on water provision efforts.

Keywords: Investments, Water, Local Government, Municipalities, Service Delivery

Authors' individual contribution: Conceptualization — S.M. and H.M.v.d.P.; Methodology — S.M.; Investigation — S.M.; Resources — S.M. and H.M.v.d.P.; Writing — S.M. and H.M.v.d.P.; Supervision — H.M.v.d.P.; Funding Acquisition — S.M. and H.M.v.d.P.

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

JEL Classification: P33, L95, H75

Received: 18.10.2022
Accepted: 08.05.2023
Published online: 10.05.2023

How to cite this paper: Mukwarami, S., & van der Poll, H. M. (2023). Analysis of the relationship between social factors and water services delivery in the public sector: A case of an emerging economy. Journal of Governance & Regulation, 12(2), 120–135. https://doi.org/10.22495/jgrv12i2art11

Abstract

This research paper aims to investigate the impact of COVID-19 on corporate social responsibility (CSR) reporting of listed entities in the South Pacific Stock Exchange (SPX) through a content analysis of annual reports of selected companies listed on the SPX over two years, using a mixed approach of qualitative and quantitative methods, including a case study methodology with archival data and word count analysis. The study found that the pandemic has significantly affected CSR reporting, with companies focusing on societal needs related to the crisis rather than traditional CSR activities. It highlights the need for companies to be more transparent in their CSR reporting, especially during a crisis such as COVID-19, to build trust and confidence with stakeholders. The research contributes to the growing body of knowledge on the impact of the pandemic on businesses globally, informed by legitimacy theory consistent with Suchman's (1995) findings.

Keywords: Corporate Social Responsibility (CSR), COVID-19, Legitimacy Theory, South Pacific Stock Exchange (SPX)

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

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

JEL Classification: G32, M14, O16

Received: 28.07.2022
Accepted: 05.05.2023
Published online: 09.05.2023

How to cite this paper: Tanzil, S. A. (2023). The impact of COVID-19 on the corporate social responsibility reporting of listed corporations: A case of South Pacific Stock Exchange. Corporate Governance and Sustainability Review, 7(1), 70–81. https://doi.org/10.22495/cgsrv7i1p5

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

Abstract

The study evaluates the channel of volatilities and returns between global oil prices and exchange rates of 21 developing countries. The structural vector autoregression (SVAR) findings are that oil-producing and exporting countries would have their exchange rates fluctuate slightly due to changing oil prices. For Markov-regime switching estimations, whereas, exchange rate volatility does not significantly influence volatility in oil prices at both regimes of flexible and fixed exchange rates, there is the presence of significant volatility spill-over from oil prices to exchange rates. Oil price movements do significantly induce appreciation or depreciation of exchange rates. In effect, volatilities in exchange rates do not trigger volatilities in oil prices but positively and considerably influenced crude oil returns in the fixed regime by 0.59%. Notwithstanding the 0.092 low transition probability, all other probabilities that the influence of volatility in the exchange rate on oil market volatility would persist are high for both flexible and fixed regimes of exchange rates. The significant positive coefficients of exchange rates together with high transition probabilities reported are indicative of rising exchange rates, implying devaluation and hence, a negative influence on oil returns and prices. Market agents can therefore diversify risks by investing in oil markets and forex markets independently.

Keywords: Exchange Rate Volatilities, Oil Price Volatilities, Returns, Persistence, Markov-Regime Switching Regression, Transition Probabilities

Authors' individual contribution: Conceptualization — D.U., S.E.E., C.U.N., M.A.O., A.N.T., and K.E.; Methodology — D.U., E.O., D.I., A.N.T., and K.E.; Software — D.U., S.E.E., D.I., C.U.N., and M.A.O..; Validation — D.U., E.O., A.N.T., and K.E.; Formal Analysis — D.U., E.O., R.I.E., D.I., M.A.O., and A.N.T.; Investigation — D.U., S.E.E., R.I.E., and C.U.N.; Data Curation — D.U. and A.N.T.; Writing — Review & Editing — D.U., R.I.E., D.I., and K.E.; Supervision — D.U., S.E.E., and K.E.

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

JEL Classification: C20, C59, E26

Received: 24.09.2022
Accepted: 08.05.2023
Published online: 09.05.2023

How to cite this paper: Umoru, D., Effiong, S. E., Okpara, E., Eke, R. I., Iyayi, D., Nwonu, C. U., Obomeghie, M. A., Tizhe, A. N., Eshemogie, K. (2023). Oil-exchange rate volatilities and returns nexus [Special issue]. Corporate Governance and Organizational Behavior Review, 7(2), 325–337. https://doi.org/10.22495/cgobrv7i2sip11

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

Abstract

Science holds the key to the progress and development of any country. The full-scale war of the Russian Federation against Ukraine makes some adjustments to the possibilities of scientific activity. To some extent, it depends on the regional context, since the territory of Ukraine is conditionally divided into three zones: 1) territories that had/have active hostilities; 2) regions that do not have the direct escalation of hostilities; 3) temporarily occupied territories. Our research highlights the impact of the Russian-Ukrainian war on the research activity at the university that has been under temporary occupation. Quantitative and qualitative analysis of the results of the scientists' survey and included observation allows one to determine the main problems and challenges faced by scientists in occupation conditions. It was determined that in the conditions of occupation, scientists not only lack access to the necessary equipment but are also subject to moral and psychological pressure. However, understanding the meaning and value of one's scientific achievements for the victory and post-war recovery of Ukraine, the support of the world scientific community inspires creation even in the moment of hardships.

Keywords: War, Occupation, Science, University

Authors' individual contribution: Conceptualization — Y.S. and N.T.; Methodology — H.L. and O.H.; Data Curation — Y.S. and A.P.; Writing — Original Draft — Y.S., N.T., and L.H.; Writing — Review & Editing — Y.S. and I.B.; Visualization — S.K.

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

JEL Classification: D22, L32, J61

Received: 25.01.2023
Accepted: 05.05.2023
Published online: 08.05.2023

How to cite this paper: Suchikova, Y., Tsybuliak, N., Lopatina, H., Popova, A., Kovachov, S., Hurenko, O., & Bogdanov, I. (2023). Is science possible under occupation? Reflection and coping strategy [Special issue]. Corporate Governance and Organizational Behavior Review, 7(2), 314–324. https://doi.org/10.22495/cgobrv7i2sip10

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

Abstract

In this research, we investigate how cash holdings are affected by the environmental, social, and governance (ESG) disclosure practices of corporations. This research provides valuable insights into the ongoing discussion all across the world on ESG disclosure, and mainly 5 countries from the Organisation for Economic Co-operation and Development (OECD), which are the United States of America, Canada, the United Kingdom, Japan, and Australia, over the period 2012–2021. We used Refinitiv Eikon database to measure the variables. The results show there is a significantly negative relation between ESG disclosure and cash holdings in the introduction, growth, and shake-out/decline stages. Lower cash holdings are associated with higher firm performance and a positive value of cash. In spite of using different econometric parameters, other measurements, extra control variables, propensity score matching, and an instrumental variable approach, our results remained unchanged (Arayssi et al., 2020). This paper has recommendations for policymakers, investors, and business organizations. Importantly, our study reveals how higher levels of ESG disclosure lead to better cash-holding practices (Buallay, 2022).

Keywords: ESG, Cash Holdings, OECD, Liquidity, Sustainability, Financial Constraint

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

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

JEL Classification: G32, G34, G38, G30, M41, M48, M40, D81

Received: 09.10.2022
Accepted: 01.05.2023
Published online: 02.05.2023

How to cite this paper: AlHares, A., AlEmadi, N., Abu-Asi, T., & Al Abed, R. (2023). Environmental, social, and governance disclosure impact on cash holdings in OECD countries. Journal of Governance & Regulation, 12(2), 104–119. https://doi.org/10.22495/jgrv12i2art10

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

Abstract

The problem of the paper focused on the role of the integration of strategic planning for tourism development and air transport connectivity is integral to advancing Indonesia's tourist destinations with world-class marine park attractions spread across several eastern provinces that have not been visited by tourists optimally. They were relying on opening flight paths connected to the main entrances to Jakarta and Bali airports. This research aims to uncover and analyze the strategic planning of tourism development in Sulawesi Utara Province. A mixed method was used in research that adopted the model of Golkar (2005) with 96 questionnaires to officials of the tourism office, airport authorities, and airlines. An analysis using a four-dimensional SWOT (strengths, weaknesses, opportunities, and threats) analysis (Mercer, 1991). The findings show that the accessibility of air transportation for tourist visits is limited and is not integrated with the flight paths of tourists. Tourism development planning in Sulawesi Utara Province tends to be partial and not consider critical variables. Such as the development of air transport infrastructure to open access to tourist destinations that are difficult to reach by land and sea transportation. Contribution to the theory and managerial implications are discussed, and suggestions for further research are given.

Keywords: Strategic Planning, Air Connectivity, Tourist Destination, Indonesia

Authors' individual contribution: Conceptualization — N.S.; Methodology — N.S.; Validation — A.H.; Formal Analysis — N.S. and A.; Investigation — A.D.E. and M.A.S.; Writing — Original Draft — N.S.; Writing — Review & Editing — A.D.E. and A.H.; Visualization — M.A.S.

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

JEL Classification: O2, O21, D04, E61, L93

Received: 13.10.2022
Accepted: 28.04.2023
Published online: 02.05.2023

How to cite this paper: Suparman, N., Abdal, Hidayat, A., Effendi, A. D., & Septiadi, M. A. (2023). Integration of strategic planning and air connectivity in tourism development. Corporate & Business Strategy Review, 4(2), 184–196. https://doi.org/10.22495/cbsrv4i2art17

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

Abstract

Education in the 21st century is focused on knowledge based on collaboration, interaction, and creativity. We need knowledge, skills, competencies, and characteristics of individuals who will create knowledge with the assistance of university academics. So the objective of our paper was to determine the relationship between self-esteem and job satisfaction among 150 full-time academic employees, employed at three state universities in the Republic of Kosovo and the Republic of North Macedonia. We used the following measuring instruments: job satisfaction survey (JSS) and Rosenberg self-esteem scale (RSE). Results show that 86 (57.33%) subjects have high self-esteem, 38 (25.33%) have a medium level of self-esteem and 26 (17.34%) have low self-esteem. We found that the low self-esteem of the subjects does not depend on job satisfaction, while there is a significant correlation between the medium level of self-esteem and job satisfaction and the high level of self-esteem and job satisfaction. In addition, the self-esteem of the academic staff depends on the total job satisfaction, coworkers, and nature of work, communication, salary. The obtained results show that job satisfaction and job success are moderators of self-esteem in academic staff (Marcionneti & Castelli, 2022).

Keywords: Self-Esteem, Job Satisfaction, University Academics, Management Strategy

Authors' individual contribution: Formal Analysis — A.A.; Investigation — A.A. and G.S.; Data Curation — A.A. and G.S.; Writing — Original Draft — A.A. and G.S.; Writing — Review & Editing — A.A. and G.S.

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

JEL Classification: C12, C13, I23

Received: 02.01.2023
Accepted: 01.05.2023
Published online: 02.05.2023

How to cite this paper: Ahmeti, A., & Stankovska, G. (2023). Self-esteem and job satisfaction among the academic staff in higher education [Special issue]. Corporate Governance and Organizational Behavior Review, 7(2), 306–313. https://doi.org/10.22495/cgobrv7i2sip9

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

Abstract

This research explores how increased gender diversity on corporate boards in Iceland, driven by applying a “hard” public policy, i.e., board gender quota legislation, has affected post-quota board directors' perceptions of board functioning. This study falls into the growing literature on board diversity (Boshanna, 2021; Li et al., 2020). Directors' opinions towards board decision-making and monitoring activities are researched, as well as their effect on corporate governance practices. A survey was answered by 244 board directors in Iceland. Results show that the initial attitude towards gender quotas was more negative among male directors than female directors but became more similar and positive over time. Strong support is found for increased female board participation leading to different viewpoints being discussed at the board table in addition to better decision-making. A similar picture emerges regarding the behavior of holding chief executive officers (CEOs) accountable and being more focused on corporate governance practices. These results were significantly the view of female directors and directors chairing the assessed board. Male directors are more negative than their female counterparts about the short term effect of increased female participation is having on board dynamics. This research indicates that a gender quota has led to increased female board participation in addition to impacting decision-making corporate norms, according to directors, as policymakers intended.

Keywords: Gender Quota, Board Diversity, Monitoring, Corporate Governance

Authors' individual contribution: Conceptualization — A.A.A., T.O.S., and P.G.; Methodology — A.A.A. and P.G.; Validation — T.O.S.; Formal Analysis — A.A.A.; Investigation — A.A.A., T.O.S., and P.G.; Resources — T.O.S.; Writing — Original Draft — A.A.A. and P.G.; Writing — Review & Editing — A.A.A., T.O.S., and P.G.; Visualization — T.O.S.; Supervision — P.G.

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

JEL Classification: M140, M12, G300

Received: 15.10.2022
Accepted: 28.04.2023
Published online: 01.05.2023

How to cite this paper: Arnardottir, A. A., Sigurjonsson, T. O., & Gabaldon, P. (2023). Gender diversity on corporate boards: Directors' perceptions of board functioning and gender quotas. Journal of Governance & Regulation, 12(2), 92–103. https://doi.org/10.22495/jgrv12i2art9

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

Abstract

One of the key drivers of the Indonesian economy is small and medium-sized enterprises (SMEs). Especially in overcoming the crisis caused by COVID-19. However, SMEs also need a competitive advantage to be able to compete with larger companies. One of the competitive advantages can be obtained through innovation in eco-design (Vihma & Moora, 2020). This study examines the factors which influence SMEs' intention to adopt eco-design. The quadruple bottom line (QBL) method forms the foundation for these elements (Simons et al., 2017). It is the evolution of the triple bottom line (TBL) with the additional factor of purpose, besides three existing factors: people, planet, and profit. In addition, using the theoretical framework of planned behavior and social cognitive theory, we also investigate the variables that affect purpose. In this work, structural equation modeling partial least squares is used as a quantitative method. A questionnaire is used to gather the primary data, SMART PLS 3 software is used for data processing, and SME entrepreneurs are selected as respondents. According to the findings, attitude, and self-efficacy significantly influenced purpose. People, planet, and purpose influence SMEs' intention to adopt eco-design.

Keywords: Quadruple Bottom Line, SME, Intention, Eco-Design, Sustainability, Purpose

Authors' individual contribution: Conceptualization — A.S.L.L.; Methodology — B.L.H.; Investigation — M.H.; Resources — A.M.; Data Curation — A.M.; Writing — Original Draft — B.L.H.; Writing — Review & Editing — A.S.L.L.; Supervision — A.S.L.L.; Project Administration — M.H.; Funding Acquisition — A.M.

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

JEL Classification: J16, M41, G34

Received: 30.06.2022
Accepted: 28.04.2023
Published online: 01.05.2023

How to cite this paper: Masrukhin, A., Lindawati, A. S. L., Handoko, B. L., & Heykal, M. (2023). Application of quadruple bottom approach on the adoption of eco-design [Special issue]. Corporate Governance and Organizational Behavior Review, 7(2), 293–305. https://doi.org/10.22495/cgobrv7i2sip8

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

Abstract

Green and sustainable development is a common trend in the world, in which firms are not only interested in socio-economic development, but also environmental protection and environmental indicators in the production process. Green accounting, an important tool to assess the environmental impact on the economy, is considered a transition towards green and sustainable economic development (Gray, 1992). This study is conducted to assess the impact of all factors on the application of green accounting in Vietnamese construction firms, of which data is collected from 243 survey questionnaires of managers and accountants of Vietnamese construction firms. By using Cronbach's alpha test, exploratory factor analysis (EFA) test, and multiple regression analysis to check and forecast information, there are five determinants affecting the application of green accounting in Vietnamese construction firms as staff levels and resources, legal and regulatory systems, customer demands, legal and educational systems, stakeholder, managers' perceptions, internal resources. Based on the findings, some suggestions are proposed to management businesses and agencies to compensate for the shortcomings in the process of applying green accounting, contributing to making green accounting one of the most effective tools. It is important to appraise the environmental impact on the economy and is acknowledged as a transition towards sustainable development and green economic development.

Keywords: Construction Firms, Green Accounting, Environmental Accounting, Sustainable Development

Authors' individual contribution: Conceptualization — T.M.P.N.; Methodology — M.D.T.; Validation — T.M.P.N.; Writing — Review & Editing — T.M.P.N., H.H.H., and M.D.T.; Visualization — T.M.P.N.; Supervision — M.D.T.

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

JEL Classification: M41, Q56

Received: 03.01.2023
Accepted: 26.04.2023
Published online: 28.04.2023

How to cite this paper: Nguyen, T. M. P., Ha, H. H., & Tran, M. D. (2023). Determinants influencing the application of green accounting: The case of Vietnamese constructions firms [Special issue]. Corporate Governance and Organizational Behavior Review, 7(2), 282–292. https://doi.org/10.22495/cgobrv7i2sip7

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

Abstract

One of the elements in a legal state is the separation or division of power (machtenscheiding), in the sense that each state institution is formed with separate functions and powers or is divided independently and does not interfere with each other (van der Burg et al., 1985). One of the characteristics of the concept of the welfare state is the government's obligation to seek the general welfare, or bestuurszorg (Utrecht, 1985). Along with the government's obligation to strive for the welfare of the community, the goal is that the government not only implements the legal provisions that have been made by the legislature but is also attached with authority to make laws and regulations, especially in the form of implementing regulations, policy regulations, and various decisions. The method used in this research is to use a descriptive-analytical approach, which is used to examine the provisions of the relevant legislation and literature. In accordance with the doctrine of Administrative Law, administrative efforts are part of the government's task. The importance of administrative efforts, among others, lies in their complete examination, which includes policy and legal aspects and can immediately change, correct, or even revoke disputed decisions.

Keywords: Judges, Administrative Efforts, Administrative Justice System, 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: K2, K4, K24, R5

Received: 12.07.2022
Accepted: 26.04.2023
Published online: 28.04.2023

How to cite this paper: Ridwan, R. (2023). The existence and urgency of administrative efforts in the administrative justice and regulation. Journal of Governance & Regulation, 12(2), 84–91. https://doi.org/10.22495/jgrv12i2art8

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

Abstract

The purpose of this paper is to investigate the effects of the COVID-19 pandemic on unemployment in Greece. The outbreak of the pandemic at the beginning of 2020 was an unprecedented phenomenon for the governments of all states, which, with the increase in cases, were called to take measures to limit the spread of the virus, which necessarily limited freedoms but also caused changes in lifestyle and the activities of people but also in the operation of businesses resulting in the disruption of labor relations (Francis-Devine et al., 2022). A large percentage of businesses were forced to suspend their operations and, in many countries, total lockdowns of short or longer duration were imposed. Some countries, of course, have chosen to act differently by imposing smaller local lockdowns or even none. In this paper, we will deal with the case of Greece, which acted completely differently, especially during the first period of the outbreak of the pandemic, with the first imposing a total lockdown from the appearance of the very first cases of the pandemic (Goniewicz et al., 2020). Using panel data, we will assess the interaction and correlation of the unemployment rate with a range of variables, such as the number of cases, inflation, gross domestic product (GDP) and consumer price index, to assess whether and to what extent the spread of the virus ultimately affected the rate of unemployment in these two countries.

Keywords: Unemployment, COVID-19, Greece, Inflation, Panel Data, Regression, Model

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

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

JEL Classification: H0, J1, J6

Received: 02.01.2023
Accepted: 25.04.2023
Published online: 28.04.2023

How to cite this paper: Toumpalidou, S. A., & Chatzikonstantinidou, S. (2023). The social impact and risks of the COVID-19 pandemic crisis in Greece. Risk Governance and Control: Financial Markets & Institutions, 13(2), 8–16. https://doi.org/10.22495/rgcv13i2p1

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

Abstract

The rule of law is a necessary issue for the economic development of a country, while its absence hinders economic development (Krever, 2011). The main aim of this study is to analyze the way of governing and supervising public enterprises in the case of Kosovo. This study shed light on the importance they have in the development and balance of the legal system of a state and a functioning democracy which together enable the preservation, increase of responsibility, and reduction of undue political influence. Good corporate governance following the provisions of domestic law and the lack of political influence of the Government in these bodies is a good signal and indicator for foreign investors and lenders that investing and lending to such companies is safe as the lack of governance enables market disruption while on the other hand deprives citizens of quality public services. Based on ownership, publicly owned enterprises (POEs) are organized into central POEs owned by the Government of Kosovo and local POEs owned by one or more municipalities. The Government and the municipalities exercise their rights in these enterprises through the election of the board of directors (Ministry of Economic Development, 2018). Lack of good governance discourages foreign investors and thus slows down the further evolution of ownership and stagnation in the development of the country's economy.

Keywords: Governance, Oversight, Public Enterprises, Boards of Public Enterprises, Ownership of Public Enterprises

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

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

JEL Classification: K10, K20, K22

Received: 21.03.2022
Accepted: 24.04.2023
Published online: 27.04.2023

How to cite this paper: Ibraimi, X., Ziberi, B., & Brestovci, A. (2023). The importance of the regulation of public enterprises. Corporate Law & Governance Review, 5(1), 122–128. https://doi.org/10.22495/clgrv5i1p11

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

Abstract

Project portfolio management is a strategic weapon. Despite, the abundant amount of literature on research and development (R&D) project evaluation and selection, earlier research does not exploit the potential of learning even if it may generate significant opportunities. The aim of this paper is to deepen the knowledge on how a learning process could favor the selection and management of projects to include in the portfolio, considering the relevance of strategic orientation. Grounded on learning the concept of pragmatic constructivism (PC), this paper presents a qualitative and interpretative approach conducted in a single case study. The selected company is a multinational, operating in the semiconductor industry. Data were collected by combining different sources such as semi-structured interviews, direct observation, meeting participation and use of archival sources. The results show that the role played by previous learning can provide very useful information for division managers in the company to pick up the best project to include in the portfolio, which meet business strategic priorities. The results provide some practical implications in supporting the decision-making process of division managers on how to choose the best project portfolio, meaning to pick up the right projects to increase the performance of the project portfolio as well as company performance.

Keywords: Innovation, Portfolio Management, Learning, Pragmatic Constructivism

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: M49, M1

Received: 10.02.2023
Accepted: 25.04.2023
Published online: 27.04.2023

How to cite this paper: Messina, M. (2023). New product development (NPD) project portfolio management: What is the role of learning? Corporate Ownership & Control, 20(3), 85–99. https://doi.org/10.22495/cocv20i3art6

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

Abstract

As a consequence of COVID-19 funeral industry employees risk developing severe mental health issues such as depression and anxiety as they are overexposed to death, stressful working situations, and fear of being infected with the virus (World Health Organization [WHO], 2020). The research investigated possible physical and mental health risks to funeral industry employees exposed to death and funerals exacerbated in times of pandemics. There is limited research available that indicates the extent of COVID-19's impact on funeral parlours and employee well-being. This paper aims to address the identified limitation by contributing to the understanding of COVID-19's impact on funeral parlour employees. A quantitative research approach was employed. A sample of 62 respondents from two funeral parlours (funeral parlours A and B) operating in the eThekwini area was selected. Statistical Package for the Social Sciences (SPSS) was used to analyse quantitative data. Thematic analysis was used to analyse interview data. Findings revealed that working during the COVID-19 pandemic had a negative impact on the physical well-being of funeral parlour employees as they exhibited symptoms of stress, exhaustion, and general sickness. The study recommends that management should work on strengthening wellness programmes to ensure that the adverse effects of the coronavirus on employee well-being are minimised.

Keywords: COVID-19, Funeral Parlour, Employee Well-being, Physical Well-being, Mental Well-being

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

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

JEL Classification: I31, J24, J28

Received: 29.07.2022
Accepted: 25.04.2023
Published online: 27.04.2023

How to cite this paper: Ndelu, L., & Mtembu, V. (2023). The impact of COVID-19 on the well-being of funeral parlour employees [Special issue]. Corporate Governance and Organizational Behavior Review, 7(2), 272–281. https://doi.org/10.22495/cgobrv7i2sip6

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

Abstract

Investments of insurance companies relate to assets that guarantee the insured the payment of benefits (liabilities assumed), so they are conditioned by the duration of contracts, the amount of the sums insured, and the level of technical reserves required. An entity shall preserve the value of the investment in time for benefits obligations to policyholders and maintain the solvency margin and capital to protect shareholder or participant/beneficiary. Some insurance investment policies are based on the consideration of risk and return on assets and have incorporated the outcome measures of investment expenses and cost of capital. This article provides an overview of the evolving investment strategies of insurers and identifies the opportunities and constraints they may face with respect to long-term investment activity. This research employs a qualitative method with a convenience sampling approach. The sample of this study was the portfolios of several insurance companies in the European Union (EU). The results showed that two types of general criteria when selecting investment assets are observed, at least theoretically: the ownership structure of the entities and the types of products that are managed (life and non-life). According to the results of this study, most of the investments correspond to the life insurance segment, where contractual obligations are long-term and the insured risk is less volatile, which are invested mainly in fixed income. In contrast, non-life entities have a greater preference to invest in equity and real income when compared to the previous. The relevance of this study is based on the repercussions in the financial markets, as insurers as the main institutional investor.

Keywords: Investment, Insurance, Capital, 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: G11, G15, G22

Received: 15.09.2022
Accepted: 24.04.2023
Published online: 26.04.2023

How to cite this paper: López Domínguez, I. (2023). Insurance companies in the European Union: General criteria affecting investment policies. Journal of Governance & Regulation, 12(2), 77–83. https://doi.org/10.22495/jgrv12i2art7

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

Abstract

The literature highlights the need to develop and utilise a balanced, dynamic, and multi-perspective performance measurement system (PMS) for managing organisations. The system should report the key performance indicators (KPIs) to support decision-making processes. Although the useful approaches for the development of this system are described in the literature, they are not sufficiently applied to public organisations. Hence, this paper aims to identify and apply a useful approach for PMS design in a local government according to national legislation. A qualitative case study method is adopted in this research. It is recognised as the most effective method for obtaining an in-depth understanding of complex environments. To define the steps for developing a PMS, the context and regulation of an Italian municipality are investigated in this research. The result highlights the steps of PMS development suggested by national legislation. It illustrates a local government context, highlighting the considerable complexity of the organisational perspective and numerous controls to carry out to be compliant with the legislation background. The contribution of this study is twofold. First, the study contributes to the performance measurement literature through the approach definition of PMS development in local governments. Second, it contributes to practice by providing a useful case study of PMS development of local governments according to a national legislation background. The research describes a useful approach for designing a PMS in a complex and bureaucratic environment. Moreover, it highlights the main steps to develop a performance measurement system in a local government.

Keywords: Performance Measurement System, Performance Management, Key Performance Indicators (KPIs), Public Sector, Local Government, Municipality

Authors' individual contribution: Conceptualisation — E.S.; Methodology — E.S.; Investigation — E.S.; Resources — E.S.; Writing — Original Draft — E.S.; Writing — Review & Editing — E.S.; Visualization — E.S.; Supervision — P.P.B., G.G., and A.S.; Project Administration — P.P.B., G.G., and A.S.

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

JEL Classification: H11

Received: 24.02.2023
Accepted: 24.04.2023
Published online: 26.04.2023

How to cite this paper: Sorano, E., Biancone, P. P., Giovando, G., & Sardi, A. (2023). Performance measurement system in local governments: A critical analysis and advancements. Corporate Ownership & Control, 20(3), 75–84. https://doi.org/10.22495/cocv20i3art5

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

Abstract

Most companies have been severely affected by various business risks due to the COVID-19 outbreak. Their limited resources during this adverse period have forced them to be more concerned with their companies' survival than making sustainability initiatives that incur extra costs. Consequently, companies have faced a challenge in reporting imposed-sustainability statements. According to Wenzel et al. (2020) and Zharfpeykan and Ng (2021), companies can innovatively improvise the regular sustainability reporting to become a strategic tool to portray to stakeholders how companies respond to and address sustainable matters during a crisis period. Thus, this paper presents the concept of sustainability reporting as a strategic crisis response mechanism and proposes a model and matrix that maps the stakeholder engagement disclosure strategy with quality disclosure. Moreover, the paper discusses how this reporting can be influenced by internal governance mechanisms. The paper further suggests the moderating role of enterprise risk management (ERM) in this relationship. This concept can potentially guide managerial decisions on ideal sustainability practices that may not impair companies' capacity to survive during future crises. It may act as an effective instrument in meeting stakeholders' expectations of companies to perform their roles as good corporate citizens during a crisis.

Keywords: Sustainability Reporting, Strategic Crisis Response, Strategic Sustainability Reporting, Internal Governance Mechanisms, Enterprise Risk Management (ERM)

Authors' individual contribution: Conceptualization — Z.M.Z.; Writing — Original Draft — Z.M.Z.; Writing — Review & Editing — H.Y. and R.F.I.; Visualization — Z.M.Z.; Supervision — H.Y. and R.F.I.; Project Administration — Z.M.Z., H.Y., and R.F.I.; Funding Acquisition — Z.M.Z., H.Y., R.F.I., and H.F.

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

JEL Classification: D70, H80, G34, D80, Q50, M49

Received: 04.08.2022
Accepted: 24.04.2023
Published online: 26.04.2023

How to cite this paper: Mohd Zam, Z., Yusoff, H., Ismail, R. F., & Fauzi, H. (2023). Sustainability reporting as strategic crisis response mechanism: An innovative approach [Special issue]. Corporate Governance and Organizational Behavior Review, 7(2), 259–271. https://doi.org/10.22495/cgobrv7i2sip5

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

Abstract

In this study, it is evaluated how different types of organizations influence the connection between accounting quality and trade credit in Iraqi public companies. Trade credit, defined as accounts payable as a percentage of total assets, is the dependent variable of this study. Accounting quality is the independent variable, and it is measured in three ways: the ability to sustain profits, the ability to predict profits, and the ability to manage real earnings (Arora & Singh, 2021). The sample size is 35 different companies from the years 2011–2016. When we look at this time frame, we see a financial crisis between 2011 and 2013 (when ISIS invaded Iraq) and a period after the crisis, from 2014 to 2016, where things began to stabilize again. To test our assumptions, we employ panel data in Stata 14. According to the findings, firm type has no bearing on the connection between firm sustainability and trade credit, but it does moderate the connection between profit predictability and trade credit. Finally, firm type has a positive and statistically significant bearing on the connection between real earnings management and trade credit.

Keywords: Accounting Quality, Trade Credit, Profit Sustainability, Profit Predictability, Earnings Management, Firm Type

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

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

JEL Classification: M1, M2, G4

Received: 08.06.2022
Accepted: 24.04.2023
Published online: 26.04.2023

How to cite this paper: Mouhmmd, L. T., Rahima, M. A., Mohammed, A. M., Hasan, H. F., Alwan, A. S., & Sharaf, H. K. (2023). The effect of firm type on the relationship between accounting quality and trade credit in listed firms. Corporate & Business Strategy Review, 4(2), 175–183. https://doi.org/10.22495/cbsrv4i2art16

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

Abstract

This research is motivated by the increasing competitiveness potential of private Islamic elementary schools in Indonesia. Competition in the education sector is characterized by the relevance of community needs, oriented to modernity with the principle of mutual justice, and substance oriented in harmony with global cooperation and competition. Educational competitiveness requires leadership support in improving and developing the quality of education (Waruwu et al., 2022). However, little is known about the support of visionary leadership and improving the quality of school competitiveness. This study aims to explore the support of visionary leadership and the quality of education on the competitiveness of schools. This study uses descriptive quantitative research methods to determine the average of each variable and continues with the correlational method. The instrument was a closed questionnaire distributed to 59 Islamic elementary schools in East Jakarta. The respondents are teachers and parents who are members of the school committee management team. A total of 481 respondents consisted of 222 teachers and 259 representatives of parents. The results showed that visionary leadership support, quality improvement, and school competitiveness were in the high category at private Islamic elementary schools in East Jakarta, Indonesia. All variables partially have a significant effect on school competitiveness. This study recommends that principals and stakeholders are committed to continuously improving schools' quality to match global competitiveness. Therefore, visionary leadership skills are needed so that school principals are able to think far ahead and are global so that challenges can be faced and competition can be conquered.

Keywords: School Quality Improvement, School Principal, School Competitiveness, Visionary Leadership

Authors' individual contribution: Conceptualization — S. and I.S.; Methodology — A.T. and D.A.K.; Investigation — N.H. and S.H.S.; Writing — A.K.; Resources — M. and B.; Supervision — F.S.R.; Funding Acquisition — S. and A.Q.M.

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

JEL Classification: I2, I24, I28

Received: 03.06.2022
Accepted: 21.04.2023
Published online: 25.04.2023

How to cite this paper: Subaidi, Komariah, A., Tantowi, A., Munasir, Sabban, I., Hartini, N., Suryadi, Muslim, A. Q., Kurniady, D. A., Rahman, F. S., Salsabil, S. H., & Barowi. (2023). Visionary leadership in improving the quality and competitiveness of private Islamic primary schools. Journal of Governance & Regulation, 12(2), 66–76. https://doi.org/10.22495/jgrv12i2art6

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

Abstract

This study aims to investigate the effect of macroprudential regulation on banks' profitability during financial crises, to find out whether the instruments of the Central Bank of Jordan (CBJ) enhance the performance of the Jordanian banking sector in terms of increasing banks' profitability and reducing banking sector exposure to financial crisis vulnerability. The sample of the study consists of twelve listed banks in Jordan over the period 2000–2018. The bank's return on assets (ROA) was regressed on instruments by using the fully modified ordinary least square (FMOLS) method. The results had shown a slightly weak significant effect of stress testing (ST) on the banks' ROA. Capital adequacy ratio (CAR) had no significant effect, leverage ratio had the deepest effect, and banks are highly leveraged with more debt-to-equity ratio. In addition to that, a good number of the banks maintain CAR, loan-to-value (LTV), and leverage ratios higher than the minimum limit required by the CBJ and Basel requirements, suggesting that the Basel standards did not take into consideration the particularity of some countries. The results also revealed that CBJ prudential regulation instruments are succeed in keeping the stability of the banking sector profitability during previous financial crises, but still need to enhance the level of gearing for banks against future shocks.

Keywords: Macroprudential Regulation, Macroeconomic Policy, Banks, Stabilization, Policy-making, Financial Sector Development, Financial Crises, ROA

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

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

JEL Classification: E61, E58, G21

Received: 21.11.2022
Accepted: 21.04.2023
Published online: 24.04.2023

How to cite this paper: Bani Atta, A. A., Ali Mustafa, J., Al-Qudah, S. S., Massad, E., & Ahmad, A. B. (2023). The effect of macroprudential regulation on banks' profitability during financial crises [Special issue]. Corporate Governance and Organizational Behavior Review, 7(2), 245–258. https://doi.org/10.22495/cgobrv7i2sip4