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Corporate Governance and Sustainability Review
Number of Followers: 6  

  This is an Open Access Journal Open Access journal
ISSN (Print) 2519-8971 - ISSN (Online) 2519-898X
Published by Virtus Interpress Homepage  [7 journals]
  • Editorial: Recent debates on corporate governance and sustainability
    • "Creative
      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 October 20, 2021.

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

      How to cite: Alkaraan, F. (2021). Editorial: Recent debates on corporate governance and sustainability. Corporate Governance and Sustainability Review, 5(3), 4–6. https://doi.org/10.22495/cgsrv5i3editorial

      2021-10-20T07:58:42Z
       
  • Corporate social responsibility in the time of COVID-19 pandemic: An
           exploratory study of developing country corporates
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      COVID-19 pandemic has long-lasting consequences on the health, economic and social life of a country (He & Harris, 2020). In a developing country like India, the socio-economic disruption has led to collaborative action between the central government and state government machinery together with the development sector to curb the impact caused by the virus. Academia substantiates the symbiotic relationship existing between the business and the society (McGuire, 1963; Carroll & Shabana, 2010). The corporates are contributing towards alleviating the pandemic situation through their corporate social responsibility (CSR) activities (Mahmud, Ding, & Hasan, 2021). This article provides insights into the CSR strategies adopted by corporates in India during the COVID-19 pandemic through exploratory research. The study is based on semi-structured interviews of 27 CSR managers involved in strategizing and implementation of CSR activities in their respective organizations. The results outline the commitment shown by corporates towards alleviating the consequence of the virus by multiple CSR strategies. Thus, this research furthers the understanding of CSR and forms a base for future research on COVID-19 and CSR.

      Keywords: Corporate Social Responsibility, COVID-19 Pandemic, CSR Strategies, Mandatory CSR

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

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

      JEL Classification: M14

      Received: 19.05.2021
      Accepted: 01.10.2021
      Published online: 06.10.2021

      How to cite this paper: Gokarna, P., & Krishnamoorthy, B. (2021). Corporate social responsibility in the time of COVID-19 pandemic: An exploratory study of developing country corporates. Corporate Governance and Sustainability Review, 5(3), 73–80. https://doi.org/10.22495/cgsrv5i3p6

      2021-10-06T13:00:21Z
       
  • Gender diversity on corporate boards: Review and future research agenda
           through bibliometric mapping
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      With growing regulatory changes with respect to the composition of the board of directors, the regulation for the appointment of women directors on the corporate boards has seen an upsurge in recent times. It is quite evident to believe that with so many countries mandating the appointment of women, the reasons are not just social but also economic in nature. The extant literature provides enough evidence based on various social and psychological theories that support the diversity element for better decision-making. This study is an attempt to analyze the scientific articles to understand the growth of this concept under various dimensions. The search, undertaken over the Scopus database, led to the retrieval of a total of 547 articles published during the period 1989–2021 which, after final filtration, brought the total number of results to 352 articles. VOSviewer software was employed for the purpose of analyzing these articles which helped in the formulation of bibliometric citation, co-citation, and co-word maps. The findings suggest the prominent countries, significant authors, major studies, and top journals in this domain. In addition, the study also identifies the various dimensions such as financial performance, social performance, environmental performance, sustainability disclosures being impacted due to the presence of gender diversity. The study is significant and unique based on the pretext that it uses the Scopus database for the purpose of bibliometric mapping whereas past studies have used the Web of Science database, thus the study's outcome made a strong corroboration in identifying emerging paradigms in the gender diversity literature.

      Keywords: Gender Diversity, Women on Board, Financial Performance, Bibliometric Analysis

      Authors' individual contribution: Conceptualization — S.S.; Methodology — J.S., D.A., and S.S.; Validation — J.S. and D.A.; Formal Analysis — S.S.; Investigation — J.S. and D.A.; Writing — Original Draft — S.S.; Writing — Review & Editing — J.S., D.A., and S.S.

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

      JEL Classification: M14, G30, G34, G38

      Received: 07.06.2021
      Accepted: 24.09.2021
      Published online: 28.09.2021

      How to cite this paper: Singh, J., Singhania, S., & Aggrawal, D. (2021). Gender diversity on corporate boards: Review and future research agenda through bibliometric mapping. Corporate Governance and Sustainability Review, 5(3), 57–72. https://doi.org/10.22495/cgsrv5i3p5

      2021-09-28T12:42:09Z
       
  • Sustainable banking: A roadmap to sustainable development
    • Abstract

      Sustainability is not a mere buzzword in the banking industry now but rather a key concept that will shape the direction of the industry in the years to come (World Finance, 2019). Thus, the study aims to ascertain various sustainable banking practices at a domestic and global levels. It also intends to identify the existing framework developed for assessing the performance of sustainable banking practices. The study makes use of exploratory and descriptive research design and is based on primary (in-depth interviews) and secondary sources of data collection. The dimensions of sustainable banking have been identified as environmental, social and governance (ESG). The research further highlights that sustainability issues focused by banks primarily involve “environmental” and “social” considerations, however, the “governance” aspect has not yet been considered by many. Moreover, the study reveals that there are no guidelines specified by the Reserve Bank of India (RBI) for sustainable banking practices in India to date. The insights gained from the study would enrich the existing literature on sustainable banking. The findings would also help in developing a new framework for assessing the performance of sustainable banking practices.

      Keywords: Sustainable Banking, Sustainable Development, Sustainable Banking Practices, Environmental, Social and Governance (ESG)

      Authors' individual contribution: Conceptualization — D.S., N.D., and R.M.; Methodology — D.S., N.D., and R.M.; Validation — D.S. and N.D.; Formal Analysis — D.S., N.D., and R.M.; Investigation — R.M.; Resources — D.S. and N.D.; Data Curation — D.S., N.D., and R.M.; Writing — Original Draft — R.M.; Visualization — D.S., N.D., and R.M.; Supervision — D.S. and N.D.; Project Administration — D.S., N.D., and R.M.

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

      JEL Classification: G3, Q5, Q56

      Received: 15.08.2020
      Accepted: 10.09.2021
      Published online: 15.09.2021

      How to cite this paper: Saxena, D., Dhall, N., & Malik, R. (2021). Sustainable banking: A roadmap to sustainable development. Corporate Governance and Sustainability Review, 5(3), 42–56. https://doi.org/10.22495/cgsrv5i3p4

      2021-09-15T13:28:38Z
       
  • Estimated impact of COVID-19 on the Jordanian economy
    • Abstract

      This study aims to estimate the negative effects of COVID-19 on the Jordanian economy. These effects are expected to coincide with the results of studies carried out by international institutions. For example, the International Labor Organization (ILO) estimated indicate an increase in the number of unemployed to 5.3 million (the “low” scenario) and 24.7 million (the “high” scenario), from a baseline of 188 million in 2019 (ILO, 2020a). Experts from the World Bank and the International Monetary Fund (IMF) confirmed that the global economic downturn (caused by the coronavirus pandemic) is the largest in the past eight decades, which will lead to an increase in poverty and inequality and harm economic growth in the long term. (News 18, 2020). To measure the impact of COVID-19 on the Jordanian economy, the following indicators were adopted: an economic growth, an unemployment rate, a foreign trade (imports and exports), public revenues, public spending, a public debt, and a budget deficit. The study relied on data contained in reports issued by international institutions and official institutions in Jordan. The results indicate a slowdown in the rate of economic growth, an increase in the unemployment rate, a decrease in exports and imports, an increase in the public debt and the budget deficit.

      Keywords: COVID-19 Economic Impact, Economic Development, Economic Crisis, Economic Growth, Unemployment, International Trade and Public Finance

      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: E6, F14, H2, H6, I18, J6

      Received: 30.09.2020
      Accepted: 27.08.2021
      Published online: 01.09.2021

      How to cite this paper: Aljaloudi, J. (2021). Estimated impact of COVID-19 on the Jordanian economy. Corporate Governance and Sustainability Review, 5(3), 34–41. https://doi.org/10.22495/cgsrv5i3p3

      2021-09-01T12:41:08Z
       
  • Consumer attitudes and marketing strategies: A corporate social
           responsibility perspective
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The focus of this research was to investigate consumer attitudes about CSR (corporate social responsibility) strategies used by organizations, using a non-western perspective. Today every organization intent to go global, raising every organization's concern with acquiring legitimacy by incorporating their stakeholders' expectations into their overall business plan. Globalization running parallel with the lack of corporate self-regulation has challenged global businesses to justify their actions in the name of CSR. Understanding consumer perceptions of various CSR initiatives will aid in aligning business behavior with stakeholder expectations, which is vital to ensure the corporation's long-term survival. The findings of the study indicated that consumers are influenced by CSR platforms, initiatives, and specific marketing strategies. Analysis of the data collected through an online survey provided insight into how businesses may use numerous CSR factors to improve customers' satisfaction, loyalty and assess consumers' inclination towards delivering socially desirable answers. The study is grounded within the framework suggested by Carroll (1991) and subsequent modifications provided by Visser (2005, 2008). The outcomes of the study will assist the practitioners, particularly those belonging to emerging economies, in properly strategizing and planning for their business's future development. A cross-cultural perspective has been provided in the study.

      Keywords: Corporate Social Responsibility, CSR in Emerging Economies, CSR-Based Marketing Strategies, Cross-Cultural Differences

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

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

      JEL Classification: M14, M31, N35

      Received: 14.06.2021
      Accepted: 23.08.2021
      Published online: 25.08.2021

      How to cite this paper: Malla, S. S., & Sharma, S. C. (2021). Consumer attitudes and marketing strategies: A corporate social responsibility perspective. Corporate Governance and Sustainability Review, 5(3), 18–33. https://doi.org/10.22495/cgsrv5i3p2

      2021-08-25T12:33:25Z
       
  • Corporate governance and financial performance of listed companies: A case
           of an emerging market
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      Corporate financial performance (CFP) is a key benefit that comes with the adoption and implementation of a good corporate governance structure in organizations. The objective of this paper is to analyze the effect of the six (6) broad corporate governance structures (board composition, board committees, separation of CEO/chairman, size of board, number of board meetings held, and shareholder concentration) on CFP measured by ROA, ROE, EPS, and Tobin's Q among Ghanaian companies. The target population for the study was the companies that were listed on the Ghana Stock Exchange (GSE) for the period 2015–2020 and purposive sampling methods were deployed in the sample selection. The study found that using ROA as a performance indicator, corporate governance variables affected CFP by 18.95% whilst it influenced ROE by 29.71%. Additionally, corporate governance mechanisms impacted EPS by 52.53% when it was used as a performance indicator and 18.01% when Tobin's Q was the performance index. The paper concludes that companies that implement the corporate governance guidelines on best practices stand a better chance of enhancing CFP especially with performance targets that integrate shareholder value maximization.

      Keywords: Corporate Governance, Corporate Financial Performance, Ghana Stock Exchange, Ghana, Performance Reporting

      Authors' individual contribution: Conceptualization — A.P.; Methodology — E.S.A. and A.P.; Writing — Original Draft — E.S.A. and A.P.; Writing — Review & Editing — E.S.A. and A.P.

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

      JEL Classification: M10, M19

      Received: 20.04.2021
      Accepted: 20.08.2021
      Published online: 23.08.2021

      How to cite this paper: Asamoah, E. S., & Puni, A. (2021). Corporate governance and financial performance of listed companies: A case of an emerging market. Corporate Governance and Sustainability Review, 5(3), 8–17. https://doi.org/10.22495/cgsrv5i3p1

      2021-08-23T12:04:19Z
       
  • Editorial: Recent trends in corporate governance and sustainability
           research
    • "Creative
      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 July 2, 2021.

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

      How to cite: Gerged, A. M. (2021). Editorial: Recent trends in corporate governance and sustainability research. Corporate Governance and Sustainability Review, 5(2), 4-6. https://doi.org/10.22495/cgsrv5i2editorial

      2021-07-02T10:17:09Z
       
  • Book review: “Board of directors: A review of practices and
           empirical research”
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      This review covers the book titled “Board of directors: A review of practices and empirical research”, edited by Stefano Dell'Atti, Montserrat Manzaneque, and Shab Hundal (Virtus Interpress, 2020; ISBN: 978-617-7309-16-0). The focus of this review is particularly on board diversity and sustainability issues that, in the reviewer's opinion, are two challenges that will keep boards of directors busy in the years to come. It also highlights the contribution of this book to the ongoing discussion on key issues relating to board of directors.

      JEL Classification: G34, M12, M14

      Received: 08.03.2021
      Accepted: 25.06.2021
      Published online: 29.06.2021

      How to cite this paper: Braendle, U. C. (2021). Book review: “Board of directors: A review of practices and empirical research”. Corporate Governance and Sustainability Review, 5(2), 102–105. https://doi.org/10.22495/cgsrv5i2p9

      2021-06-29T13:30:57Z
       
  • The European hedge funds industry: An empirical analysis of performance,
           liquidity, and growth
    • Abstract

      While the performance of hedge funds has grabbed much attention from researchers, a few studies have been conducted on the drivers of hedge fund liquidity and performance (Shaub & Schmid, 2013). This study proposes new approaches to investigate the effect of share restrictions on European hedge fund performance and liquidity. We run different regressions of 1) returns, 2) flows, and 3) exposure to market liquidity risk on share restrictions, managerial incentives, and a set of control variables as independent variables. Using a sample of 1423 European hedge funds, our results suggest that restrictions imposed by European hedge funds add economic value to investors. Furthermore, we find that European hedge funds with strong share restrictions take on lower liquidity risk. There is a weak difference in liquidity risk exposure across directional European hedge funds with and without share restrictions. In addition, European hedge funds' experience, large outflows during a crisis, and all share restrictions do not seem to be significantly related to funding flows in the crisis period, as well as in times of non-crisis. Finally, only the groups of young funds are associated with significant funds exposure to market liquidity risk.

      Keywords: European Hedge Funds, Inflow Restrictions, Outflow Restrictions, Performance, Asset Illiquidity, Fund Flows, Incentives

      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, G12, G15, G18, G19

      Received: 04.08.2020
      Accepted: 22.06.2021
      Published online: 25.06.2021

      How to cite this paper: Ben Khelifa, S. (2021). The European hedge funds industry: An empirical analysis of performance, liquidity, and growth. Corporate Governance and Sustainability Review, 5(2), 89-101. https://doi.org/10.22495/cgsrv5i2p8

      2021-06-25T12:08:48Z
       
  • Stakeholder engagement with emotion sustainability and sustainable
           partnership for productivity
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The aim of this paper is to explore the key elements of emotion sustainability (ES) and sustainable partnership (SP) under post-COVID-19. Qualitative primary data is a major part of data analysis to support the findings from qualitative secondary data analysis on ES. The key findings for wellness influence are 1) self-awareness, 2) spiritual support, and 3) trust with flexibility for productivity with ES and SP with the SERVQUAL model. The learning outcomes on literature and 10 interviews with interviewees from Southeast Asia countries related to ES demonstrate that the principles of SERVQUAL are embedded in measuring wellness. For self-awareness related to new wellness skills, factors such as raisin diet, grapes nutrition awareness, antioxidant, happiness emotion, and adaptiveness are explored. Management with influence via ES and SP under post COVID-19 in 2020 has seldom been studied. With these findings, organizations shall have an idea of designing activities to enhance emotional sustainability for staff members. The paper details the learning outcomes generated from the literature in the past as well as the use of SERVQUAL. This is important for organizational development with wellness training and individual/organizational development.

      Keywords: Stakeholder Engagement, Emotion Sustainability, Sustainable Partners, Productivity, SERVQUAL

      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: M12, M14, O35

      Received: 09.11.2020
      Accepted: 01.06.2021
      Published online: 04.06.2021

      How to cite this paper: Yeung, S. M. C. (2021). Stakeholder engagement with emotion sustainability and sustainable partnership for productivity. Corporate Governance and Sustainability Review, 5(2), 82-88. https://doi.org/10.22495/cgsrv5i2p7

      2021-06-04T14:28:16Z
       
  • Do Egyptian listed companies support SDGs' Evidence from UNCTAD
           guidance on core indicators disclosures
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      This paper provides an exploratory analysis of the extent of Sustainable Development Goals disclosure (SDGD) by the top 30 Egyptian companies. We use the 33 core indicators of the United Nations Conference on Trade and Development (UNCTAD), which span economic, institutional, social, and environmental areas. Overall, the results suggest that SDGD in Egypt is still gaining traction, as indicated by a relatively low average disclosure score of only 25%, which translates to approximately eight indicators. We also document a variation in SDGD among the four areas, where disclosure addressing economic and institutional indicators is higher than that of social and environmental areas. This variation could be attributed to the differential regulatory and legal intensity. Disclosure is most noticeable for taxes, employment, women empowerment, financial transparency, corporate governance, and energy. We argue that Egypt has the legislative infrastructure and clear political will from the state to support sustainable development. However, there is a need for coordinated awareness efforts to establish a culture of sustainable development among various stakeholders, including businesses. Finally, there should be a stronger conviction regarding the importance of information sharing as well as comprehensive reporting standards and enhanced regulatory enforcement. To the best of our knowledge, this is the first paper to address the status of SDGD in Egypt. Accordingly, there is a need for future research that analyzes both the determinants of SDGD and its consequences.

      Keywords: Disclosure, Egypt, Sustainability, Sustainable Development Goals (SDGs), Guidance on Core Indicators (GCI)

      Authors' individual contribution: Conceptualization — A.M.A.-M., K.D., and N.S.; Methodology — K.D. and N.S.; Formal Analysis — A.M.A.-M.; Investigation — N.S.; Writing — A.M.A.-M., K.D., and N.S.; Visualization — A.M.A.-M.; Supervision — K.D.

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

      JEL Classification: M14, M41, O16

      Received: 20.01.2021
      Accepted: 24.05.2021
      Published online: 25.05.2021

      How to cite this paper: Abdel-Meguid, A. M., Dahawy, K., & Shehata, N. (2021). Do Egyptian listed companies support SDGs? Evidence from UNCTAD guidance on core indicators disclosures. Corporate Governance and Sustainability Review, 5(2), 73-81. https://doi.org/10.22495/cgsrv5i2p6

      2021-05-25T12:36:27Z
       
  • Community security is the key to sustainable governance: Methods and
           functions of crime hotspot predictions
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      Forecasting is becoming increasingly important in corporate sustainability governance, as is government governance, and the prediction of police crime hotspots is related to human rights, so transparency is needed. There are many ways to predict hotspots of criminal activity in urban areas. Experts assume that if many crimes occur somewhere, even more, are likely to happen at subsequent times. Such predictions may rely on a state dependency model such as the Poisson distribution algorithm to formulate re-occurrence, its results can provide a visualized hotspot map with Q-GIS maps. Forecasting sets the threshold for re-occurrence and affects the distribution of the forecast. This paper studies the occurrence of criminal activity in urban areas, refers to the metrics set by the NIJ's crime prediction contest and focuses on the presentation of the results by accumulating different historical data. It was determined that when the amount of cumulative data is greater, its prediction measures by the prediction accuracy index (PAI) insures that accuracy is improved, but the prediction efficiency index (PEI) that efficiency level is worse. Because threshold setting directly affects the performance of the forecast, it can be used differently. Here sets four different indicators, hit rate, useful rate, waste rate, and missing rate. It was determined that the hit rate, missing rate, the PAI value, and the PEI value are directly proportional to the threshold value, while the trend of useful rate and waste rate are inversely related. Concerned policymakers can set different thresholds dependent up the number and budgetary constraints of police forces, and they can work towards achieving crime prevention in urban hotspots. Importantly, Poisson's approach can be simply implemented with Excel, be conducive to drive by the office practitioner, and elevate the transparency of crime prediction.

      Keywords: Quantitative Methods, Data Collection, Regional Government, Research and Development Policy, State Dependency Model, Poisson Distribution, Sustainability

      Authors' individual contribution: Conceptualization — T.-C.W. and B.-C.L.; Methodology — T.-C.W. and B.-C.L.; Investigation — T.-C.W. and B.-C.L.; Writing — Original Draft — T.-C.W. and B.-C.L.; Writing — Review & Editing — T.-C.W. and B.-C.L.

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

      JEL Classification: A10, C54, Q56

      Received: 22.12.2020
      Accepted: 21.05.2021
      Published online: 24.05.2021

      How to cite this paper: Wang, T.-C., & Lee, B.-C. (2021). Community security is the key to sustainable governance: Methods and functions of crime hotspot predictions. Corporate Governance and Sustainability Review, 5(2), 57-72. https://doi.org/10.22495/cgsrv5i2p5

      2021-05-24T13:32:52Z
       
  • The impact of board of directors' characteristics on dividend policy:
           Evidence from a developing country
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The “dividend puzzle” has been an unresolved problem since the 1950s. The purpose of this paper is to investigate the nature and a level of the relationship between board characteristics and dividend policy. The study used a positivistic approach and Spearman correlation metric, descriptive statistics, and binary regression models have been deployed as analytical tools. It is found that food and beverages sector had the highest percentage for dividend payout from 2015 to 2019. The highest percentage for women on boards was 13% in the land and property sector. The average board size for the selected companies was 8. The likelihood to pay dividends, women on boards, the board size, and CEO duality indicated a significant positive relationship. Panel regression results indicate that there is no significant relationship between board characteristics and the level of dividend payment for the selected sample. But in a sectorial analysis audit committee size has a significant negative relationship with the level of dividend payment in the manufacturing sector whereas board gender diversity has a significant positive relationship with the same in the food and beverage sector. In summary, dividend decision has been affected by several board characteristics, but such factors had no significant impact on the level of dividends declared in the market. The sectorial analysis revealed that several characteristics affected the level of dividends in two sectors.

      Keywords: Corporate Governance, Board Characteristics, Dividend Policy, Spearman Correlation, Binary Logistic Regression, Panel Regression

      Authors' individual contribution: Conceptualization — D.M.K.T.D.; Methodology — D.M.K.T.D.; Validation — D.B.P.H.D.; Formal Analysis — D.M.K.T.D.; Investigation — D.M.K.T.D.; Resources — D.M.K.T.D.; Data Curation — D.M.K.T.D.; Writing — Original Draft — D.M.K.T.D.; Writing — Review & Editing — D.M.K.T.D.; Supervision — D.B.P.H.D.

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

      JEL Classification: G34, G35, C33, L20, Y1

      Received: 31.10.2020
      Accepted: 19.05.2021
      Published online: 21.05.2021

      How to cite this paper: Dissanayake, D. M. K. T., & Dissabandara, D. B. P. H. (2021). The impact of board of directors' characteristics on dividend policy: Evidence from a developing country. Corporate Governance and Sustainability Review, 5(2), 44-56. https://doi.org/10.22495/cgsrv5i2p4

      2021-05-21T11:46:18Z
       
  • The introduction of legal audit within French universities: The impact on
           the managerial latitude of managers
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The adoption of the Law relative to the Liberties and Responsibilities of Universities (LRU) in 2007 has sought to “modernize” the governance system of French universities. Article 18 of this Law stipulated “the accounts of the university are subject to an annual audit by a legal auditor” (Law no. 2007–1199 of 10 August 2007). This paper explores management teams' perceptions of the role of legal audit in the governance system of French universities and its impact on the managerial latitude of university managers. Based on twenty-five interviews carried out with members of the management teams in three universities, the results of this study are threefold. Firstly, legal audit plays a disciplinary role by reducing the information asymmetry and cognitive conflicts between university managers and the stakeholders involved in governance particularly the financial supervisory authorities and the accounting agency. Secondly, the audit report is used by university managers to reinforce the legitimacy and the objectivity of their decisions, in the face of internal and external political pressure coming mainly from the university council, faculties, and the supervisory authorities. Thirdly, legal audit plays a complementary role to the governance system in place, including the controls of the accounting agency, the Council, and the Rectorate. Therefore, the results of this research are part of an integrated governance approach (Wirtz, 2006) which is characterized by the complementarity between the disciplinary and cognitive dimensions (Williamson, 1991; Charreaux, 1997).

      Keywords: Legal Audit, Governance, University, Managerial Latitude

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

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

      Acknowledgements: The authors would like to express their thanks to the attendees at the Annual Conference of the European Group of Public Administration (EGPA) who provided valuable comments for this material.

      JEL Classification: M40, M42

      Received: 04.09.2020
      Accepted: 12.05.2021
      Published online: 14.05.2021

      How to cite this paper: El Kaddouri, H., & Ajeeb, M. (2021). The introduction of legal audit within French universities: The impact on the managerial latitude of managers. Corporate Governance and Sustainability Review, 5(2), 35-43. https://doi.org/10.22495/cgsrv5i2p3

      2021-05-14T13:46:39Z
       
  • The evolution of corporate reporting on GHG emissions: A Canadian portrait
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      This paper examines the evolution of the extent to which firms with a high greenhouse gases (GHG) emission impact complied with Chartered Professional Accountants (CPA) Canada guidelines on climate change disclosures, as well as the factors that influenced these disclosures. The sample is comprised of Canadian firms in the mining, energy, and chemical sectors. The study measures the influence of the firms' political exposure and media visibility, their audit firm, the presence of an environment committee, their ownership structure, and their financial performance on their GHG emissions disclosures. Our findings show that these disclosures considerably evolved over the 10 year period from 2007 to 2017 and that this evolution was in the form of a leap rather than a slow and steady learning curve. We also confirmed the significant influence of the environment committee, political exposure, and media visibility on this evolution. Our empirical results corroborate the work of DiMaggio and Powell (1983), outlining the important role normative pressures play in voluntary GHG emissions disclosure firms make in order to secure the legitimacy conferred by society (Suchman, 1995).

      Keywords: Corporate Social Responsibility, Corporate Governance, Corporate Reporting, Voluntary Disclosure, Legitimacy Theory, GHG Emissions

      Authors' individual contribution: Conceptualization — V.G. and S.B.; Methodology — V.G.; Formal Analysis — V.G.; Resources — V.G.; Writing — Original Draft — V.G. and S.B.; Writing — Review & Editing — V.G. and S.B.; Supervision — V.G.

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

      Acknowledgements: The authors would like to thank Francis Hinse-Laniel for his participation in collecting the data.

      JEL Classification: G34, M14, M48

      Received: 10.02.2021
      Accepted: 06.05.2021
      Published online: 07.05.2021

      How to cite this paper: Gagné, V., & Berthelot, S. (2021). The evolution of corporate reporting on GHG emissions: A Canadian portrait. Corporate Governance and Sustainability Review, 5(2), 22-34. https://doi.org/10.22495/cgsrv5i2p2

      2021-05-07T12:30:23Z
       
  • Corporate governance and voluntary sustainability practices in Islamic
           bank: A study in the MENA region
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The purpose of this paper is to investigate the effect of selected governance characteristics on the level of environmental disclosure in Islamic banks within the MENA zone. This study used a sample of 40 Islamic banks as part of a new data set, namely the data collected from the annual reports. Environmental disclosure is developed to measure the level of environmental information. We measure the environmental disclosure by both the energy disclosure items and the natural environment disclosure item provided by the annual reports. Multiple linear regression analyzes were used to verify the effect of a bank's governance characteristics on the level of environmental disclosure. This study may contribute to the existing literature by providing insights from countries with an emerging economy and providing updated documentary and empirical evidence concerning the association between the characteristics of governance and the level of environmental disclosure of Islamic banks within the MENA zone.

      Keywords: Governance Mechanism, Board of Directors, Islamic Bank, Environmental Disclosure

      Authors' individual contribution: Conceptualization — J.C.; Writing — Original Draft — J.C., Y.C., and N.C.; Writing — Review & Editing — J.C., Y.C., and N.C.; Project Administration — Y.C. and N.C.; Funding Acquisition — N.C.

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

      JEL Classification: G2, M41, M140

      Received: 02.01.2021
      Accepted: 20.04.2021
      Published online: 21.04.2021

      How to cite this paper: Chouaibi, J., Chouaibi, Y., & Chaabane, N. (2021). Corporate governance and voluntary sustainability practices in Islamic bank: A study in the MENA region. Corporate Governance and Sustainability Review, 5(2), 8-21. https://doi.org/10.22495/cgsrv5i2p1

      2021-04-21T11:46:38Z
       
  • Editorial: COVID-19, corporate governance, sustainability, and the
           post-neoliberal world
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      This special issue of the journal "Corporate Governance and Sustainability Review" was published on April 20, 2021.

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

      How to cite: dela Rama, M., & Crews, J. (2021). Editorial: COVID-19, corporate governance, sustainability, and the post-neoliberal world [Special issue]. Corporate Governance and Sustainability Review, 5(1), 90-92. https://doi.org/10.22495/cgsrv5i1sieditorial

      2021-04-20T09:00:13Z
       
  • COVID-19 governance, legitimacy, and sustainability: Lessons from the
           Australian experience
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      During 2020, Australia managed the global and systemic COVID-19 crisis successfully as measured by health and economic indicators. It marshalled the government's delivery capacity to control the health crisis and put in place measures to offset the induced economic and social costs. At the same time, the crisis revealed long-standing structural weaknesses in a small, democratic, wealthy, and economically successful country that raised questions about post COVID resilience and sustainability. This paper examines that experience by applying a “co-production” governance model that sees success in “crisis management” as the striking of a balance between government capacity and its legitimacy in the eyes of its people. Lessons are drawn in terms of Australia's ability to tackle the ongoing transition out of COVID and future crises, by building systemic resilience and sustainability.

      Keywords: COVID-19, Australia, Corporate Governance, Governance, Neoliberalism, Legitimacy, Sustainability

      Authors' individual contribution: Conceptualization — M.L.; Writing — Original Draft — M.L. and M.d.R.; Writing — Review & Editing — M.L., M.d.R., and J.C.

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

      JEL Classification: O1, O2, P1, H1, H5, H7

      Received: 01.03.2021
      Accepted: 16.04.2021
      Published online: 20.04.2021

      How to cite this paper: Lester, M., dela Rama, M., & Crews, J. (2021). COVID-19 governance, legitimacy, and sustainability: Lessons from the Australian experience [Special issue]. Corporate Governance and Sustainability Review, 5(1), 143-153. https://doi.org/10.22495/cgsrv5i1sip5

      2021-04-20T08:32:30Z
       
  • The cyber classroom: Academic governance and sustainability in the 2020
           pandemic context
    • Abstract

      From February to December 2020, the Government of Macau Special Administrative Region (MSAR) of the People's Republic of China (PRC) implemented strict health measures to control the pandemic caused by the coronavirus (COVID-19). Among several other developments, universities in the territory turned to online teaching, which lasted for the entire 2020 spring semester. This paper aims to identify the empirical lessons learned from that period, from both pedagogic and governance points of view, keeping in mind the impact of technological, human-related, and governance challenges. The sustainability of online teaching for a limited period of time was directly related to the effectiveness (and speed) of external coordination (involving the relevant governmental departments) and internal commitment within the university. Despite the relative academic success and the technological transformation, one of the key lessons learned is that online teaching cannot effectively contribute to the processes of secondary and anticipatory socialization in the same way as in-person learning. Therefore, online teaching is not sustainable as a stand-alone tool in higher education. It fails to deliver secondary and anticipatory socialization particularly with regard to the sense of connection and togetherness. Clearly, the current model of academic governance has not been designed to face this type of challenge.

      Keywords: Pandemics 2019 (COVID-19), Higher Education, Governance, Sustainability, Lessons Learned, Socialization, Macau (China)

      Authors' individual contribution: Conceptualization — F.J.L. and E.C.L.; Methodology — F.J.L. and E.C.L.; Resources — F.J.L. and E.C.L.; Writing — Original Draft — F.J.L.; Writing — Review & Editing — F.J.L. and E.C.L.; Visualization — F.J.L.

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

      Disclaimer: The views, thoughts, and opinions expressed in this paper belong solely to the authors in their personal capacity, and do not necessarily reflect the official policy or position of any organization, to which they may be associated with.

      JEL Classification: I230

      Received: 17.10.2020
      Accepted: 15.04.2021
      Published online: 16.04.2021

      How to cite this paper: Leandro, F. J., & Leou, E. C. (2021). The cyber classroom: Academic governance and sustainability in the 2020 pandemic context [Special issue]. Corporate Governance and Sustainability Review, 5(1), 131-142. https://doi.org/10.22495/cgsrv5i1sip4

      2021-04-16T11:10:20Z
       
  • Reaffirming trust in social enterprise in the COVID-19 era: Ways forward
    • Abstract

      COVID-19 has overwhelmed and stretched existing healthcare infrastructure in both developed and developing economies and pushed governmental response mechanisms to the brink. Globally, governments elicited the call for corporate support, asking social entrepreneurs and social business ventures to organise efforts to build voluntary support for the large-scale response needed during the sudden lockdown disruptions. By April 2020, 26.5 million jobs were lost in the US alone (Lambert, 2020), global stocks plummeted at least 25% and gross domestic product (GDP) contracted significantly for all countries. With reduced domestic demand for non-food goods, reduced foreign demand for US goods exports, supply-chain disruptions, and plant closures, the manufacturing sector saw a huge decline (Reinicke, 2020). Governments all over the world announced massive stimulus packages. The US has approved $2 trillion financial support to combat the economic downturn so far (Emma & Scholtes, 2020) and EU finance ministers have recently approved €500 billion in stimulus measures (Riley, 2020). It is estimated that the global economy will grow at -3 percent in 2020. This article sheds light on the role of social enterprises in addressing the societal problems caused by COVID-19. The authors highlight the efforts of virtual and collaborative associations who seek to swiftly recognise issues and develop solutions, which create social value and alleviate the plights of suffering communities. This article sheds light on the role of social enterprises in addressing the societal problems caused by COVID-19. The authors highlight the efforts of virtual and collaborative associations who seek to swiftly recognise issues and develop solutions, which create social value and alleviate the plights of suffering communities. The authors place emphasis upon the role of the social entrepreneur in developing a way forward in these challenging times and present a contemporary conceptualisation of the social entrepreneur in the form of an “avatar” and the impact that this may have on social enterprise.

      Keywords: COVID-19, Crisis, Trust, Values, Uncertainty, Social Enterprise

      Authors' individual contribution: Conceptualization – M.S., R.O., and J.P.H.; Resources – M.S., R.O., and J.P.H.; Writing – Original Draft – M.S., R.O., and J.P.H.; Writing – Review & Editing – M.S., R.O., and J.P.H.; Visualization – M.S.

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

      JEL Classification: O35

      Received: 02.11.2020
      Accepted: 13.04.2021
      Published online: 15.04.2021

      How to cite this paper: Snowden, M., Oberoi, R., & Halsall, J. P. (2021). Reaffirming trust in social enterprise in the COVID-19 era: Ways forward [Special issue]. Corporate Governance and Sustainability Review, 5(1), 120-130. https://doi.org/10.22495/cgsrv5i1sip3

      2021-04-15T12:40:33Z
       
  • How COVID-19 reshapes businesses and executive pay for sustainability
    • Abstract

      The purpose of this paper is to answer the research question of how to design a fair and resilient compensation scheme according to stakeholder theory and the sustainability concept. The first finding of this paper is the framework for the sustainable, fair, resilient, scientific, simple, and practical compensation schemes — pay for sustainability (P4S). P4S has been developed after reviewing the literature and obtaining insights from the compensation consultants in Switzerland. It is also a useful tool in COVID-19 and will be for future crises. As a second finding, this theory-adaptation-based conceptual and commentary paper criticizes the conventional executive compensation structure and introduces the business lessons learned from the COVID-19 crisis. As a contribution to both the literature and practice, this research advances the novel knowledge in the field by conceptualizing a reliable and scientific framework and explaining the advantages and disadvantages of the four methods of the P4S framework. During COVID-19, environmental, social, and governance (ESG) based performances and compensation schemes have gained more importance. Finally, these proposed methods contribute to the adaptation of ESG-based compensation schemes while considering the local and individual differences of organizations.

      Keywords: COVID-19 (Coronavirus Disease 2019), Pay for Sustainability, Stakeholder Theory, ESG-Based Executive Compensation

      Authors' individual contribution: Conceptualization – H.J.S.; Methodology – M.A.E. and H.J.S.; Resources – M.A.E.; Writing – Original Draft – M.A.E. and H.J.S.; Writing – Review & Editing – M.A.E.; Visualization – M.A.E. and H.J.S.; Funding Acquisition – H.J.S.

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

      Acknowledgements: The University of Wisconsin-La Crosse (UWL) has provided Mehtap A. Eklund with summer research support to compensate for her research time dedicated to this project. The authors are also thankful to Chris Engert for language editing and proofreading the manuscript.

      JEL Classification: M14, G34, M12, Q56

      Received: 31.07.2020
      Accepted: 09.04.2021
      Published online: 12.04.2021

      How to cite this paper: Eklund, M. A., & Stern, H. J. (2021). How COVID-19 reshapes businesses and executive pay for sustainability [Special issue]. Corporate Governance and Sustainability Review, 5(1), 107-119. https://doi.org/10.22495/cgsrv5i1sip2

      2021-04-12T13:32:26Z
       
  • COVID reflections on corporate governance
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The COVID-19 global pandemic has created unique and far-reaching impacts on corporations. Given the essential oversight role of boards of directors, it becomes critical for them to develop strategies as their companies respond to the challenges and risks under these unprecedented circumstances. This paper applies corporate governance principles and action plans for boards to help their companies survive this crisis and build sound business prospects both in the short run and long run. For immediate company survival, this paper encourages boards of directors to focus on short-term liquidity and employ five principles for COVID cash management as proposed in Gifford (2020), including detailed forecasting, setting spending priorities, initiating early communication, shortening reporting cycles, and planning for low cashpoints. Since liquidity does not equate to solvency for company survival, boards of directors also need to focus on long-term solvency by monitoring the new normal of business strategies, including the high likelihood of insolvency among small businesses and mixed solvency situations among large corporation. In addition, this paper identifies the key opportunities for the boards of directors to exploit and strengthen corporate governance during this pandemic period, including advocating a COVID disaster recovery plan with best practices, developing an emergency response checklist, establishing efficient disaster responses, and bolstering monitoring mechanisms for employees, operations, finances, customers, and supply chains (Butcher, 2020). The major sections of this paper are current COVID reflections, a case study of the Hertz Corporation, future COVID reflections, business strategies for the new normal, COVID cash management principles, COVID threats to corporate governance, COVID opportunities for corporate governance, and conclusions.

      Keywords: COVID Pandemic, Business Strategies, Corporate Governance

      Authors' individual contribution: Conceptualization – H.G.; Methodology – H.G.; Resources – M.C.; Writing – Original Draft – H.G.; Writing – Review & Editing – M.C. and T.X.; Visualization – T.X.; Funding Acquisition – M.C.

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

      JEL Classification: C3, G30

      Received: 01.06.2020
      Accepted: 05.04.2021
      Published online: 07.04.2021

      How to cite this paper: Grove, H., Clouse, M., & Xu, T. (2021). COVID reflections on corporate governance [Special issue]. Corporate Governance and Sustainability Review, 5(1), 94-106. https://doi.org/10.22495/cgsrv5i1sip1

      2021-04-07T11:59:43Z
       
  • Editorial: The recent trends in corporate governance research
    • "Creative
      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 March 30, 2021.

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

      How to cite: Allini, A. (2021). Editorial: The recent trends in corporate governance research. Corporate Governance and Sustainability Review, 5(1), 4-6. https://doi.org/10.22495/cgsrv5i1editorial

      2021-03-30T07:51:51Z
       
  • US-China trade war: Impact on chemical exporting firms from India to US
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      With the onset of the US-China trade war in July 2018, the trade patterns between China, the US, and India have undergone a tremendous change. The number of products in which China had a competitive advantage in terms of exports to the US has declined in the last 9 months. A number of developing countries may be benefitted from the ongoing tariff war between the US and China, like Vietnam, Brazil, India, and Korea. In the present study, an attempt has been made to analyse the impact of the US-China trade war on exports of India to the US. The sector which has been selected is the chemical sector comprising of organic and inorganic chemicals as chemicals are one of the top-exported products from India to the US. To analyse the impact, the difference-in-differences technique of regression has been applied. The results indicate that after July 2018, i.e., the commencement of the US-China trade war, the impact on firms exporting chemicals from India to the US has been significant and firms in India may be a potential source for chemicals for the US provided the right policy measures are exercised in India. The results indicate that the trade war between the US and China has had a positive impact on the chemical exports from India to the US. The chemical exports from India to the US have increased post-July 2018, though not at a steep rate. This indicates that India has the potential to export chemicals to the US.

      Keywords: Trade Policy, Exports, Trade War, Chemical

      Authors' individual contribution: Conceptualization – A.A.S.; Methodology – A.A.S.; Software – A.A.S.; Validation – A.A.S.; Formal Analysis – A.A.S.; Investigation – A.A.S.; Resources – P.S.; Data Curation – P.S.; Writing – Original Draft – P.S.; Writing – Review & Editing – P.S.

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

      JEL Classification: F13, F14, F43, F62, F63

      Received: 20.01.2021
      Accepted: 12.03.2021
      Published online: 16.03.2021

      How to cite this paper: Siddiqui, A. A., & Singh, P. (2021). US-China trade war: Impact on chemical exporting firms from India to US. Corporate Governance and Sustainability Review, 5(1), 75-84. https://doi.org/10.22495/cgsrv5i1p8

      2021-03-16T14:58:10Z
       
  • Towards the improvement of the sustainability in sustainable HRM: The role
           of system strength
    • Abstract

      With the growing interest in sustainability, its incorporation in business management, and its inevitable intersection with the management of human resources, some scholars and practitioners have highlighted the potential benefits of successful implementation of sustainable human resource management as a source of competitive advantage. While this may denote a corporation's capacity to respond to a wider range of needs and requirements beyond economic targets, researchers draw on different theories to point out the possible adverse consequences of adopting such multiple bottom-line approaches for employees. This study builds on ideas from previous research, particularly the works of Bush (2018), Bowen and Ostroff (2004) to 1) examine if the perceived degree of emphasis on a triple-bottom-line (TBL) approach is related to role ambiguity and role conflict; 2) investigate if the elements of human resource management system strength are related to role conflict and role ambiguity and, if these elements can moderate the relationship between the perceived degree of emphasis on TBL approach, role ambiguity, and role conflict. While the findings support the link between taking a TBL approach and role ambiguity and role conflict, it offers evidence that a strong human resource management system may reduce the role ambiguity and role conflict resulting from taking such approaches. Managerial implications and future research directions conclude this research.

      Keywords: Sustainable HRM, Human Resource Management, Triple-Bottom-Line, Role Ambiguity, Role Conflict, HRM System Strength

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

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

      Acknowledgements: The help of the anonymous private company that helped greatly with conduction of this research by allowing access to their database is highly appreciated.

      JEL Classification: M140, M500, Q560

      Received: 13.07.2020
      Accepted: 10.03.2021
      Published online: 12.03.2021

      How to cite this paper: Mashhady, A. (2021). Towards the improvement of the sustainability in sustainable HRM: The role of system strength. Corporate Governance and Sustainability Review, 5(1), 65-74. https://doi.org/10.22495/cgsrv5i1p7

      2021-03-12T13:26:46Z
       
  • Effect of corporate governance practices on bank performance: The
           perspective of board members
    • Abstract

      The lingering poor financial performance by banks and bank failure in the past three decades, despite various regulatory actions, has led to a debate on the efficacy of the various regulatory actions and the effectiveness of the practices of corporate governance in Nigerian banks (CBN, 2014; Berger, Imbierowicz, & Rauch, 2016). The study seeks to understand how corporate governance practices influence banks' performance. The qualitative approach purposively selected three banks and three board interview respondents. Using thematic analysis, the results show that, large board size is not sufficient to improve performance but the broader expertise and other resources the directors bring are the critical elements. The study finds consensus that, outsider directors were desirable, as they provide additional expertise, and assist in making strategic input to improve management decisions. Enhanced monitoring and oversight responsibilities and access to information of board committees improve board effectiveness with favourable effects on bank performance. While the moderating effect of female representation with other governance characteristics on bank performance is subject to the female complementary expertise and their proportion of the board, that of foreign directors appear to be negligible. Bank boards are recommended to be of the right caliber and quantity with adequate resources to offer enhanced monitoring and oversight responsibilities.

      Keywords: Corporate Governance Practice, Bank Performance, Board Member, Foreign Representation, Female Representation, Board Member Perspective

      Authors' individual contribution: Conceptualization – V.O.D.; Methodology – V.O.D. and J.K.T.; Formal Analysis – V.O.D.; Investigation – V.O.D.; Writing – Original Draft – V.O.D.; Writing – Review & Editing – V.O.D. and J.K.T.; Supervision – J.K.T.; Project Administration – J.K.T.

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

      JEL Classification: E50, G30, G38, L25

      Received: 02.07.2020
      Accepted: 15.02.2021
      Published online: 18.02.2021

      How to cite this paper: Dike, V. O., & Tuffour, J. K. (2021). Effect of corporate governance practices on bank performance: The perspective of board members. Corporate Governance and Sustainability Review, 5(1), 54-64. https://doi.org/10.22495/cgsrv5i1p6

      2021-02-18T14:24:21Z
       
  • Sustainability reporting and strategic legitimacy: The influence of
           operating in emerging economies on the level of GRI reporting in Canada's
           largest companies
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      Corporate sustainability reporting is a contributor to strategic legitimacy (Chelli, Durocher, & Fortin, 2018) and certain traditional corporate characteristics (size, industry vulnerability) can influence the level of sustainability reporting (Drempetic, Klein, & Zwergel, 2020). However, limited literature exists in regards to sustainability reporting by Canadian companies operating in emerging countries. Content analysis of sustainability reports examined the current use of the Global Reporting Initiative (GRI) framework. Principal component analysis (PCA) provided a sustainability reporting index (SRI) measure for each firm using factor scores. Correlations and independent-samples t-testing tested the association of the level of reporting to a firm's size, industry, level of internationalization, and level of activity in emerging economies. A review of 234 large Canadian-based, publicly-traded companies found a total of 86 companies employed the GRI framework, and data from these companies was used in this study. Asset size and vulnerable industries had no significant association with the level of sustainability reporting contrary to prior studies. Operating in emerging economies resulted in greater levels of sustainability reporting when compared to firms that do not. This finding is consistent with the external legitimacy strategy and contributes to the limited literature in this area.

      Keywords: Sustainability Reporting, GRI, Strategic Legitimacy, Emerging Economies, Canada, ESG

      Authors' individual contribution: Conceptualization – P.R.W. and R.S.; Methodology – P.R.W.; Investigation – M.M.; Resources – R.S.; Writing – Original Draft – P.R.W. and R.S.; Writing – Review & Editing – P.R.W. and R.S.; Supervision – P.R.W.

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

      Acknowledgements: We wish to acknowledge the contributions of Ola Ajibade, Ryerson University, for assisting with the original data acquisition as part of an internal funding grant from the Ted Rogers School of Management, Ryerson University.

      JEL Classification: C1, F6, K2, L1, L2

      Received: 09.12.2020
      Accepted: 05.02.2021
      Published online: 09.02.2021

      How to cite this paper: Walsh, P. R., Singh, R., & Malinsky, M. (2021). Sustainability reporting and strategic legitimacy: The influence of operating in emerging economies on the level of GRI reporting in Canada's largest companies. Corporate Governance and Sustainability Review, 5(1), 39-53. https://doi.org/10.22495/cgsrv5i1p5

      2021-02-09T14:05:51Z
       
  • Endemic corporate responsibility dimensions in the developing economy: An
           exploratory study
    • Abstract

      The current understanding of corporate social responsibility (CSR) and its associated dimensions have majorly been developed by western researchers (Xu & Yang, 2010). An exhaustive study of CSR as a concept based in the specific socio-cultural settings of India is imminent (Mohan, 2001). Hence, this research is predominantly intended to identify the endemic CSR dimensions as well as the actions that constitute these dimensions for organisations based in India. The official company website is the common communication medium for publishing information about CSR. Therefore, inductive research was conducted for twenty-seven corporate websites of companies in India using qualitative content analysis. Nine dimensions of CSR along with the actions that constitute these dimensions were identified. The dimensions are economic dimension, environment protection, ethical consideration, employee, consumerism, community development, legal, stakeholder expectation and philanthropy. Thus, this study helps develop knowledge and understanding about CSR within a specific context, i.e., India. This research will lend a holistic perspective for creating a CSR strategy for an organisation.

      Keywords: Corporate Social Responsibility, Endemic CSR Dimensions, CSR Activities, Inductive Research, Social Responsibility, CSR Communication, Content Analysis

      Authors' individual contribution: Conceptualization – P.G. and B.K.; Methodology – P.G.; Software – P.G.; Validation – P.G.; Formal Analysis – P.G.; Investigation – P.G.; Resources – B.K.; Data Curation – P.G.; Writing – Original Draft – P.G.; Writing – Review & Editing – B.K.; Visualization – P.G.; Supervision – B.K.; Project Administration – P.G. and B.K.

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

      JEL Classification: M10, M14, M19

      Received: 25.05.2020
      Accepted: 22.01.2021
      Published online: 26.01.2021

      How to cite this paper: Gokarna, P., & Krishnamoorthy, B. (2021). Endemic corporate responsibility dimensions in the developing economy: An exploratory study. Corporate Governance and Sustainability Review, 5(1), 31-38. https://doi.org/10.22495/cgsrv5i1p4

      2021-01-26T13:42:30Z
       
  • Sustainable long-term value creation: New finance focus for boards of
           directors
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The major research question of this paper is how boards of directors' practices and performance can facilitate the new finance focus on sustainable, long-term value creation. This new finance focus presents opportunities to strengthen corporate performance which enhances the gatekeeper role of boards of directors in helping both shareholders and stakeholders. The following topics are discussed and analyzed in this paper: potential examples, strategic analysis, sustainability analysis, and the circular economy. We discovered several guiding principles based on previous literature, regulatory proposals, and industry practices. Effective boards of directors need to be engaged in sustainable strategy formation and make sure long-term sustainable value creation continues to develop and does not erode. They need to have relevant industry knowledge, diverse expertise, and a proclivity for thinking independently in both good times and bad times, such as the coronavirus pandemic. They also need to develop a clear understanding of sustainable business strategies and how long-term value is created and driven through innovation and the deployment of resources. In addition, we find that boards can assess and monitor ways to measure and manage long-term value creators and drivers and encourage their companies to become involved in the circular economy with its $4.5 trillion investment opportunities. Future research could use case studies and board interviews to investigate boards of directors' practices and performance, concerning how boards have helped develop strategies and procedures to facilitate this new finance focus on long-term sustainable value creation.

      Keywords: New Finance, Circular Economy, Sustainability, Board Practices, Corporate Governance

      Authors' individual contribution: Conceptualization – H.G.; Methodology – H.G. and T.X.; Resources – M.C.; Writing – Original Draft – H.G.; Writing – Review & Editing – M.C. and T.X.; Visualization – T.X.; Funding Acquisition – M.C.

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

      JEL Classification: C3, G30

      Received: 23.10.2020
      Accepted: 18.01.2021
      Published online: 20.01.2021

      How to cite this paper: Grove, H., Clouse, M., & Xu, T. (2021). Sustainable long-term value creation: New finance focus for boards of directors. Corporate Governance and Sustainability Review, 5(1), 22-30. https://doi.org/10.22495/cgsrv5i1p3

      2021-01-20T12:26:45Z
       
  • Association between rewards and employee performance: An empirical
           research on Omani banks
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      The current paper aims to explore the association between rewards and employee performance in the Oman banking sector. This study evaluates data of 500 bank employees across 18 listed banks in the Sultanate of Oman. A theoretical framework is discussed to assess the effects of rewards on employee performance. According to this literature review, it is proven that rewards influence employee performance. Güngör's (2011) study shows that organizations develop reward strategies to motivate and increase employee performance. Salah (2016) proves that rewards have a strong influence on employee performance, and he further states that incentives encourage employees to work with purpose and increase organizational performance. The outcomes are examined using factor analysis, structural equation modeling, and multivariate analysis of variance. The results of this study provide critical insights into how companies can adopt effective reward management to sustain and compete in the dynamic business landscape and modulate performance management in Omani banks. Overall, a statistically significant association between the rewards system and employee performance in Oman's listed banks is established in this study. The study further underscores the need to design and evolve employee-centric policies to get optimum performance. It also offers guideposts for managers and policy planners working in the Middle East countries' banking sector to develop holistic policies to succeed in stiff, cut-throat competition and ensure participatory management for best performance. Herein, extrinsic and intrinsic rewards are studied concerning their impact on the performance matrix. A proper insightful reward management system may lead to optimum performance, better outcomes, and a robust financial plan.

      Keywords: Extrinsic Rewards, Intrinsic Rewards, Employee Performance, Rewards Management, Omani Banks, Middle East, Banking Sector

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

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

      Acknowledgements: This research has received financial support from the College of Banking and Financial Studies (Grant Number: 4001/2018-2019). The author wants to thank Dr. Anand for guiding in developing the internal research grant proposal. Special thanks go to Mr. Madhu, R-programming trainer, and Ms. Sujatha Nair for proofreading the work.

      JEL Classification: M10, M12, M50, M52

      Received: 09.11.2020
      Accepted: 15.01.2021
      Published online: 18.01.2021

      How to cite this paper: Kolluru, M. (2021). Association between rewards and employee performance: An empirical research on Omani banks. Corporate Governance and Sustainability Review, 5(1), 15-21. https://doi.org/10.22495/cgsrv5i1p2

      2021-01-18T14:20:34Z
       
  • Study of corporate governance in government hospitals: A case study of the
           emerging market
    • "Creative
      This work is licensed under a Creative Commons Attribution 4.0 International License.

      Abstract

      Governance in a government hospital setup is complicated due to its economic and financial dimensions but also incorporates societal responsibility. The current study focuses on the processes and procedures as the key factor of corporate governance. This paper presents evidence of a comprehensive range of procedures related to governing healthcare quality undertaken at the corporate governance level. The study explores the viewpoint of the stakeholders including patients, doctors, and the management. The aim of the study is to identify indicators of effective governance in an emerging country like India where the state regulates the health system. For this purpose, three major hospitals of Delhi – AIIMS, Safdarjung, and Ram Manohar Lohia hospitals – were studied. The response of 582 respondents was analyzed using logit regression. The study documents the comfort level of patients with the doctor, the ability of the doctors to address the concern of patience, registration time in the hospital, and easy availability of the medicine improves the corporate governance of the hospital. The main contribution of the research is analyzing the health care system in an emerging market like India which is characterized by the complexity of interaction between the environment and policies related to health care.

      Keywords: Corporate Governance, Clinical Governance, Government Hospital, Government Expenditure, Public Health

      Authors' individual contribution: Conceptualization – A.A.; Methodology – A.A. and S.A.; Validation – A.A.; Formal Analysis – S.A.; Investigation – A.A.; Writing –Original Draft – A.A. and S.A.; Writing – Review & Editing –A.A. and S.A.

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

      JEL Classification: G34, H11, H51, I18

      Received: 08.10.2020
      Accepted: 12.01.2021
      Published online: 14.01.2021

      How to cite this paper: Agnihotri, A., & Arora, S. (2021). Study of corporate governance in government hospitals: A case study of the emerging market. Corporate Governance and Sustainability Review, 5(1), 8-14. https://doi.org/10.22495/cgsrv5i1p1

      2021-01-14T12:59:18Z
       
 
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