Purpose This study aims to investigate the determinants of anti-corruption disclosures by construction firms in Asia-Pacific countries. Design/methodology/approach The sample comprises construction companies from seven Asia-Pacific countries from 2015 to 2019. The authors hand-collected data on anti-corruption disclosures by using content analysis. Findings This study provides empirical evidence that government ownership, country-level accounting competence and high-quality auditors increase companies’ anti-corruption disclosures. Meanwhile, this study finds that uncertainty avoidance does not affect companies’ anti-corruption disclosures. Practical implications This study has a number of implications. First, government and professional accountant organizations need to improve accountants’ knowledge and competence through education, training and continuous professional development. Second, public accounting firms need to ensure the quality of their auditors, particularly in the technical competence in financial and nonfinancial reporting. Finally, universities must improve and update their curriculum regarding nonfinancial reporting issues. Originality/value This study is among the first to examine anti-corruption disclosure practices in the most corrupted settings, i.e. the construction industry in Asia-Pacific countries. It uses the isomorphism perspective to explain the influence of government ownership, country-level accounting competence and high-quality auditors on anti-corruption disclosure transparency. The number of prior studies investigating this association is very limited. Moreover, disclosures of anti-corruption information are complex and sensitive; thus, coercive, normative and mimetic pressures are required to achieve higher transparency and sustainability.
{"title":"The determinants of corporate anti-corruption disclosures: evidence from construction companies in the Asia-Pacific","authors":"Evy Rahman Utami, Zuni Barokah","doi":"10.1108/cg-04-2023-0152","DOIUrl":"https://doi.org/10.1108/cg-04-2023-0152","url":null,"abstract":"\u0000Purpose\u0000This study aims to investigate the determinants of anti-corruption disclosures by construction firms in Asia-Pacific countries.\u0000\u0000\u0000Design/methodology/approach\u0000The sample comprises construction companies from seven Asia-Pacific countries from 2015 to 2019. The authors hand-collected data on anti-corruption disclosures by using content analysis.\u0000\u0000\u0000Findings\u0000This study provides empirical evidence that government ownership, country-level accounting competence and high-quality auditors increase companies’ anti-corruption disclosures. Meanwhile, this study finds that uncertainty avoidance does not affect companies’ anti-corruption disclosures.\u0000\u0000\u0000Practical implications\u0000This study has a number of implications. First, government and professional accountant organizations need to improve accountants’ knowledge and competence through education, training and continuous professional development. Second, public accounting firms need to ensure the quality of their auditors, particularly in the technical competence in financial and nonfinancial reporting. Finally, universities must improve and update their curriculum regarding nonfinancial reporting issues.\u0000\u0000\u0000Originality/value\u0000This study is among the first to examine anti-corruption disclosure practices in the most corrupted settings, i.e. the construction industry in Asia-Pacific countries. It uses the isomorphism perspective to explain the influence of government ownership, country-level accounting competence and high-quality auditors on anti-corruption disclosure transparency. The number of prior studies investigating this association is very limited. Moreover, disclosures of anti-corruption information are complex and sensitive; thus, coercive, normative and mimetic pressures are required to achieve higher transparency and sustainability.\u0000","PeriodicalId":503557,"journal":{"name":"Corporate Governance: The International Journal of Business in Society","volume":"303 11","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-03-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140233225","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Purpose This paper aims to explore the effect of female’s presence in corporate governance structures to reduce agency conflicts, using a quantile regression approach. Design/methodology/approach The research investigates the relationship between company performance and boardroom gender diversity using quantile regression methods. The study uses annual data of 111 companies listed on the Johannesburg Stock Exchange from 2010 to 2020. Findings The study reveals that women on the board impact firm return on assets and enterprise value, varying across performance distribution. This contrasts fixed effect findings but aligns with two-stage least squares. However, quantile regression indicates that female executives and independent non-executive directors have notably negative impacts in high and low-performing companies, highlighting non-uniformity in the board gender diversity effect compared with previous assumptions. Practical implications The empirical findings suggest that companies with no women directors on the board are generally more likely to experience a decrease in performance and enterprise value relative to companies with women directors on the board. As recommended through the King Code of Corporate Governance, it is thus valuable to companies to ensure gender diversity on the board of directors. Originality/value The research confirms through rigorous statistical analyses that corporate governance policies, principles and guidelines should include gender diversity as a requirement for a board of directors.
{"title":"Gender diversity in corporate boards of companies listed on the Johannesburg Stock Exchange: a quantile regression approach","authors":"Mpinda F. Mvita, Elda Du Toit","doi":"10.1108/cg-03-2023-0120","DOIUrl":"https://doi.org/10.1108/cg-03-2023-0120","url":null,"abstract":"\u0000Purpose\u0000This paper aims to explore the effect of female’s presence in corporate governance structures to reduce agency conflicts, using a quantile regression approach.\u0000\u0000\u0000Design/methodology/approach\u0000The research investigates the relationship between company performance and boardroom gender diversity using quantile regression methods. The study uses annual data of 111 companies listed on the Johannesburg Stock Exchange from 2010 to 2020.\u0000\u0000\u0000Findings\u0000The study reveals that women on the board impact firm return on assets and enterprise value, varying across performance distribution. This contrasts fixed effect findings but aligns with two-stage least squares. However, quantile regression indicates that female executives and independent non-executive directors have notably negative impacts in high and low-performing companies, highlighting non-uniformity in the board gender diversity effect compared with previous assumptions.\u0000\u0000\u0000Practical implications\u0000The empirical findings suggest that companies with no women directors on the board are generally more likely to experience a decrease in performance and enterprise value relative to companies with women directors on the board. As recommended through the King Code of Corporate Governance, it is thus valuable to companies to ensure gender diversity on the board of directors.\u0000\u0000\u0000Originality/value\u0000The research confirms through rigorous statistical analyses that corporate governance policies, principles and guidelines should include gender diversity as a requirement for a board of directors.\u0000","PeriodicalId":503557,"journal":{"name":"Corporate Governance: The International Journal of Business in Society","volume":"19 10","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-03-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140244941","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Purpose This paper aims to contribute to existing academic work and business practice by presenting original empirical findings and by providing insights into priority setting on Sustainable Development Goals (SDGs) in organizations. From an academic viewpoint, it not only adds to previous work on the topic of SDG materiality (e.g. Van Tulder and Lucht, 2019) but also aims to contribute new insights into the steps that are crucial and influence the adoption of the SDGs in materiality assessments. It may also add to the literature by providing new knowledge on the strategic considerations that organizations may make and institutional dynamics that encourage organizations to implement the SDG materiality method. Design/methodology/approach By executing a national survey research in Belgium through a collaboration between academics of Antwerp Management School, Louvain School of Management (UCLouvain) and the University of Antwerp, and supported by Belgium’s Federal Institute of Sustainable Development, the authors have obtained several insights into the SDG landscape in Belgium for various types of organizations, including companies, governmental and nongovernmental organizations and educational institutions. This research builds further on a first national survey (SDG Barometer Belgium, 2018) on the adoption and implementation of the SDGs. However, an important aim of this research is to shift the emphasis to more prominent new elements, such as whether or not organizations use the SDGs in materiality assessments. While the main part of the data for this research were collected through an online questionnaire, document analyses were conducted based on the sustainability reports of BEL 20 companies, the benchmark stock market index of Euronext Brussels consisting of 20 companies traded at the Brussels Stock Exchange, and seven interviews were held to obtain additional insights. Findings A total of 386 organizations across sectors responded to the question “Does your organization perform a materiality analysis”, of which 210 organizations completed the question “Does your organization align the materiality analysis with the SDGs,”after an “exit route” based on a positive answer to the first question. When diving into the survey results, the authors see that no more than 12% of the 210 organizations performing a materiality analysis align their materiality analysis with the SDGs, while 14% indicate that they do not account for the SDGs at all in their materiality analyses. The results show that 41% of the organizations take into account the SDGs to a certain degree when performing their materiality analysis. Speculating on an explanation for these results, it may be the case that organizations do not yet think about coupling the SDGs to their materiality assessment, experience difficulties in practice or generally lack the knowledge for relating the SDGs to the sustainability topics that are relevant to them. This seems in line with other resear
{"title":"A material world: how can materiality assessments be used to define organizational sustainability priorities, while taking into account the United Nations’ SDGs?","authors":"Jan Beyne, Lars Moratis","doi":"10.1108/cg-03-2023-0106","DOIUrl":"https://doi.org/10.1108/cg-03-2023-0106","url":null,"abstract":"\u0000Purpose\u0000This paper aims to contribute to existing academic work and business practice by presenting original empirical findings and by providing insights into priority setting on Sustainable Development Goals (SDGs) in organizations. From an academic viewpoint, it not only adds to previous work on the topic of SDG materiality (e.g. Van Tulder and Lucht, 2019) but also aims to contribute new insights into the steps that are crucial and influence the adoption of the SDGs in materiality assessments. It may also add to the literature by providing new knowledge on the strategic considerations that organizations may make and institutional dynamics that encourage organizations to implement the SDG materiality method.\u0000\u0000\u0000Design/methodology/approach\u0000By executing a national survey research in Belgium through a collaboration between academics of Antwerp Management School, Louvain School of Management (UCLouvain) and the University of Antwerp, and supported by Belgium’s Federal Institute of Sustainable Development, the authors have obtained several insights into the SDG landscape in Belgium for various types of organizations, including companies, governmental and nongovernmental organizations and educational institutions. This research builds further on a first national survey (SDG Barometer Belgium, 2018) on the adoption and implementation of the SDGs. However, an important aim of this research is to shift the emphasis to more prominent new elements, such as whether or not organizations use the SDGs in materiality assessments. While the main part of the data for this research were collected through an online questionnaire, document analyses were conducted based on the sustainability reports of BEL 20 companies, the benchmark stock market index of Euronext Brussels consisting of 20 companies traded at the Brussels Stock Exchange, and seven interviews were held to obtain additional insights.\u0000\u0000\u0000Findings\u0000A total of 386 organizations across sectors responded to the question “Does your organization perform a materiality analysis”, of which 210 organizations completed the question “Does your organization align the materiality analysis with the SDGs,”after an “exit route” based on a positive answer to the first question. When diving into the survey results, the authors see that no more than 12% of the 210 organizations performing a materiality analysis align their materiality analysis with the SDGs, while 14% indicate that they do not account for the SDGs at all in their materiality analyses. The results show that 41% of the organizations take into account the SDGs to a certain degree when performing their materiality analysis. Speculating on an explanation for these results, it may be the case that organizations do not yet think about coupling the SDGs to their materiality assessment, experience difficulties in practice or generally lack the knowledge for relating the SDGs to the sustainability topics that are relevant to them. This seems in line with other resear","PeriodicalId":503557,"journal":{"name":"Corporate Governance: The International Journal of Business in Society","volume":"8 6","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-03-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140263171","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Maryam Javed, Kashif Mehmood, Abdul Ghafoor, Asma Parveen
Purpose The board structure (BS) is pivotal in modern corporate governance (CG). This study aims to investigate BS variables (BSIZE, BIND and chief executive officer [CEO] duality) and their correlation with risk-taking behavior indicators, enriching the understanding of how CG shapes financial institutions’ (FIs) decision-making in Pakistan. Design/methodology/approach By scrutinizing data from 67 financial entities listed on the Stock Exchange of Pakistan spanning from 2011 to 2022 through panel data regression techniques, the research emphasizes that BS holds a substantial influence over the risk tendencies exhibited by these firms. Findings Key findings suggest that board size has a positive influence, aligned with previous CG research. Smaller boards perform better and avoid excessive risk-taking, contrasting some negative relationship claims. More independent directors are recommended to curtail risk and financial disruption. Holding both CEO and chair roles reduces risk exposure, resonating with reputational and employment risk theory. It is essential to recognize that BS’s impact on risk-taking is nuanced and context-dependent. Practical implications Policymakers, scholars, practitioners and investors working in the market for financial companies might greatly benefit from the empirical findings of this study. Imposing mandates on FIs to uphold adequate capital reserves functions as a safeguard against unforeseen losses, thereby diminishing the probability of unwarranted risk-taking. Originality/value Prior studies in this domain predominantly focus on nonfinancial sectors. In addition, existing research often explores the relationship between BS and firm risk-taking solely within the banking sector, overlooking other FIs. This study contributes by using a comprehensive data set encompassing all types of FIs, thus extending the existing literature.
{"title":"Board structure and risk-taking behavior: evidence from the financial sector of Pakistan","authors":"Maryam Javed, Kashif Mehmood, Abdul Ghafoor, Asma Parveen","doi":"10.1108/cg-03-2023-0101","DOIUrl":"https://doi.org/10.1108/cg-03-2023-0101","url":null,"abstract":"\u0000Purpose\u0000The board structure (BS) is pivotal in modern corporate governance (CG). This study aims to investigate BS variables (BSIZE, BIND and chief executive officer [CEO] duality) and their correlation with risk-taking behavior indicators, enriching the understanding of how CG shapes financial institutions’ (FIs) decision-making in Pakistan.\u0000\u0000\u0000Design/methodology/approach\u0000By scrutinizing data from 67 financial entities listed on the Stock Exchange of Pakistan spanning from 2011 to 2022 through panel data regression techniques, the research emphasizes that BS holds a substantial influence over the risk tendencies exhibited by these firms.\u0000\u0000\u0000Findings\u0000Key findings suggest that board size has a positive influence, aligned with previous CG research. Smaller boards perform better and avoid excessive risk-taking, contrasting some negative relationship claims. More independent directors are recommended to curtail risk and financial disruption. Holding both CEO and chair roles reduces risk exposure, resonating with reputational and employment risk theory. It is essential to recognize that BS’s impact on risk-taking is nuanced and context-dependent.\u0000\u0000\u0000Practical implications\u0000Policymakers, scholars, practitioners and investors working in the market for financial companies might greatly benefit from the empirical findings of this study. Imposing mandates on FIs to uphold adequate capital reserves functions as a safeguard against unforeseen losses, thereby diminishing the probability of unwarranted risk-taking.\u0000\u0000\u0000Originality/value\u0000Prior studies in this domain predominantly focus on nonfinancial sectors. In addition, existing research often explores the relationship between BS and firm risk-taking solely within the banking sector, overlooking other FIs. This study contributes by using a comprehensive data set encompassing all types of FIs, thus extending the existing literature.\u0000","PeriodicalId":503557,"journal":{"name":"Corporate Governance: The International Journal of Business in Society","volume":"3 10","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140418749","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Purpose This paper aims to unravel the relationship between market-driven impacts of climate change and firms’ deployment of renewable energy (RE) innovation. The purpose is to understand how market-related forces, influenced by uncertainty, shape firms’ behaviour in response to climate change challenges. Design/methodology/approach Drawing on the behavioural theory of the firm (BTOF), the paper develops a conceptual model to decode the relationship between each category of market-driven impacts and the resulting RE innovation within firms. The model takes into account the role of uncertainty and differentiates between multinational enterprises (MNEs) and domestic firms. Findings The analysis reveals five key sources of market-driven impacts: investor sentiment, media coverage, competitors’ adoption of ISO 14001, customer satisfaction and shareholder activism. These forces influence the adoption of RE innovation differently across firms, depending on the level of uncertainty and the discrepancy between environmental performance and aspiration level. Originality/value This paper contributes to the literature in four ways. Firstly, it emphasises the importance of uncertainty associated with market-driven impacts, which stimulates different responses from firms. Secondly, it fills a research gap by focusing on the proactivity of firms in adopting RE innovation, rather than just operational strategies to curb emissions. Thirdly, the paper extends the BTOF by incorporating the concept of uncertainty in explaining firm behaviour. Finally, it provides insights into the green strategies of MNEs in the face of climate change, offering a comprehensive model that differentiates MNEs from domestic firms.
本文旨在揭示气候变化的市场驱动影响与企业部署可再生能源创新之间的关系。本文以企业行为理论（BTOF）为基础，建立了一个概念模型，以解读各类市场驱动的影响与企业内部由此产生的可再生能源创新之间的关系。该模型考虑到了不确定性的作用，并区分了跨国企业和国内企业。研究结果分析揭示了市场驱动影响的五个关键来源：投资者情绪、媒体报道、竞争对手采用 ISO 14001、客户满意度和股东积极性。这些因素对不同企业采用可再生能源创新的影响各不相同，具体取决于不确定性水平以及环境绩效与期望水平之间的差异。首先，它强调了与市场驱动影响相关的不确定性的重要性，这种不确定性会刺激企业做出不同的反应。其次，本文通过关注企业在采用可再生能源创新时的主动性，而不仅仅是遏制排放的运营策略，填补了研究空白。第三，本文扩展了 BTOF，在解释企业行为时纳入了不确定性概念。最后，本文深入探讨了跨国企业在气候变化面前的绿色战略，提供了一个将跨国企业与国内企业区分开来的综合模型。
{"title":"Sustainability-driven market impacts of climate change and firms’ renewable energy innovation: a conceptual analysis","authors":"Hiva Rastegar, Gabriel Eweje, Aymen Sajjad","doi":"10.1108/cg-07-2023-0298","DOIUrl":"https://doi.org/10.1108/cg-07-2023-0298","url":null,"abstract":"\u0000Purpose\u0000This paper aims to unravel the relationship between market-driven impacts of climate change and firms’ deployment of renewable energy (RE) innovation. The purpose is to understand how market-related forces, influenced by uncertainty, shape firms’ behaviour in response to climate change challenges.\u0000\u0000\u0000Design/methodology/approach\u0000Drawing on the behavioural theory of the firm (BTOF), the paper develops a conceptual model to decode the relationship between each category of market-driven impacts and the resulting RE innovation within firms. The model takes into account the role of uncertainty and differentiates between multinational enterprises (MNEs) and domestic firms.\u0000\u0000\u0000Findings\u0000The analysis reveals five key sources of market-driven impacts: investor sentiment, media coverage, competitors’ adoption of ISO 14001, customer satisfaction and shareholder activism. These forces influence the adoption of RE innovation differently across firms, depending on the level of uncertainty and the discrepancy between environmental performance and aspiration level.\u0000\u0000\u0000Originality/value\u0000This paper contributes to the literature in four ways. Firstly, it emphasises the importance of uncertainty associated with market-driven impacts, which stimulates different responses from firms. Secondly, it fills a research gap by focusing on the proactivity of firms in adopting RE innovation, rather than just operational strategies to curb emissions. Thirdly, the paper extends the BTOF by incorporating the concept of uncertainty in explaining firm behaviour. Finally, it provides insights into the green strategies of MNEs in the face of climate change, offering a comprehensive model that differentiates MNEs from domestic firms.\u0000","PeriodicalId":503557,"journal":{"name":"Corporate Governance: The International Journal of Business in Society","volume":"10 3","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140424849","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Fabio De Matteis, E. Borgonovi, Giovanni Notaristefano, F. Striani
Purpose Based on the theoretical background of stakeholder capitalism, the purpose of this paper is to contribute to the scientific debate on the topic of public–private partnerships (PPPs), considering in particular how this governance structure relates to the pursuit of sustainable development. Specifically, this objective will be pursued with a focus on stakeholder relations and governance aspects, to highlight enablers and barriers in change for sustainability. Design/methodology/approach The systematic literature review is applied starting with the use of keywords in Web of Science, which leads to the extrapolation of 629 articles on the topic of “PPP and sustainability”. Subsequently, through various skimming steps, 75 papers are sampled. A mixed (quantitative-qualitative) approach is then followed: a co-word semantic network to identify the pattern of discourse and a more in-depth and explanatory analysis of the papers. These quantitative and qualitative tools synergistically work together to evidence the main aspects related to the aim of the paper. Findings With reference to the governance structure and stakeholders of PPPs, the analyses highlight the shift towards a triadic type of relational governance that considers stakeholders (especially the community) in addition to public–private partners. This can improve the partnership's performance (particularly in sustainable development) and social legitimacy. With reference to the role of PPPs in the implementation of sustainable development, they have positive potential in terms of implementing sustainability and raising stakeholder awareness of it. Nevertheless, PPPs may entail risks to the implementation of sustainability. The findings lead to some concluding remarks on future research opportunities. Research limitations/implications The research leads to some managerial implications, such as the need to follow a competitive collaboration approach among stakeholders, to develop relational governance skills and related managerial tools and to incorporate sustainability aspects starting from the design of PPPs. Originality/value The originality aspect of this research is the consideration of a PPP by relating it to the pursuit of sustainability. Such an inter-organizational structure could be suitable to deal with the complexity inherent in the implementation of sustainability and is peculiar in terms of governance and stakeholder relations, considering that it is characterised by the presence of several partners of different nature (public and private).
目的基于利益相关者资本主义的理论背景，本文旨在为有关公私合作伙伴关系（PPP）主题的科学辩论做出贡献，尤其是考虑这种治理结构与追求可持续发展之间的关系。设计/方法/途径：本文采用了系统的文献综述方法，首先使用了 Web of Science 中的关键词，从而推断出 629 篇关于 "公私伙伴关系与可持续性 "主题的文章。随后，通过各种略读步骤，抽取了 75 篇论文。然后采用一种混合（定量-定性）方法：通过共词语义网络确定论文的论述模式，并对论文进行更深入的解释性分析。这些定量和定性工具协同工作，证明了与本文目的相关的主要方面。研究结果关于公私伙伴关系的治理结构和利益相关者，分析强调了向三元关系治理类型的转变，即除了考虑公私合作伙伴外，还考虑利益相关者（尤其是社区）。这可以提高伙伴关系的绩效（特别是在可持续发展方面）和社会合法性。关于公私伙伴关系在实施可持续发展方面的作用，它们在实施可持续性和提高利益相关者对可持续性的认识方面具有积极的潜力。然而，公私伙伴关系可能会给可持续发展的实施带来风险。研究的局限性/影响研究得出了一些管理方面的影响，如需要在利益相关者之间采用竞争合作的方法，发展关系治理技能和相关管理工具，以及从公私伙伴关系的设计开始就纳入可持续性方面的内容。考虑到公私伙伴关系的特点是存在多个不同性质的合作伙伴（公共和私人），这种组织间结构适合处理实施可持续性过程中固有的复杂性，在治理和利益相关者关系方面也很特殊。
{"title":"The contribution of public-private partnership (PPP) to sustainability: governance and managerial implications from a literature review","authors":"Fabio De Matteis, E. Borgonovi, Giovanni Notaristefano, F. Striani","doi":"10.1108/cg-03-2023-0103","DOIUrl":"https://doi.org/10.1108/cg-03-2023-0103","url":null,"abstract":"\u0000Purpose\u0000Based on the theoretical background of stakeholder capitalism, the purpose of this paper is to contribute to the scientific debate on the topic of public–private partnerships (PPPs), considering in particular how this governance structure relates to the pursuit of sustainable development. Specifically, this objective will be pursued with a focus on stakeholder relations and governance aspects, to highlight enablers and barriers in change for sustainability.\u0000\u0000\u0000Design/methodology/approach\u0000The systematic literature review is applied starting with the use of keywords in Web of Science, which leads to the extrapolation of 629 articles on the topic of “PPP and sustainability”. Subsequently, through various skimming steps, 75 papers are sampled. A mixed (quantitative-qualitative) approach is then followed: a co-word semantic network to identify the pattern of discourse and a more in-depth and explanatory analysis of the papers. These quantitative and qualitative tools synergistically work together to evidence the main aspects related to the aim of the paper.\u0000\u0000\u0000Findings\u0000With reference to the governance structure and stakeholders of PPPs, the analyses highlight the shift towards a triadic type of relational governance that considers stakeholders (especially the community) in addition to public–private partners. This can improve the partnership's performance (particularly in sustainable development) and social legitimacy. With reference to the role of PPPs in the implementation of sustainable development, they have positive potential in terms of implementing sustainability and raising stakeholder awareness of it. Nevertheless, PPPs may entail risks to the implementation of sustainability. The findings lead to some concluding remarks on future research opportunities.\u0000\u0000\u0000Research limitations/implications\u0000The research leads to some managerial implications, such as the need to follow a competitive collaboration approach among stakeholders, to develop relational governance skills and related managerial tools and to incorporate sustainability aspects starting from the design of PPPs.\u0000\u0000\u0000Originality/value\u0000The originality aspect of this research is the consideration of a PPP by relating it to the pursuit of sustainability. Such an inter-organizational structure could be suitable to deal with the complexity inherent in the implementation of sustainability and is peculiar in terms of governance and stakeholder relations, considering that it is characterised by the presence of several partners of different nature (public and private).\u0000","PeriodicalId":503557,"journal":{"name":"Corporate Governance: The International Journal of Business in Society","volume":"46 2","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140424398","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Taha Almarayeh, Beatriz Aibar‐Guzmán, Oscar Suárez-Fernández
Purpose In light of the key role attributed to the board of directors as a monitoring tool to constrain earnings management practices, this study aims to examine the effect of some board attributes on accrual-based earnings management and real earnings management in the Middle Eastern and North African (MENA) context, whose institutional, economic and legal environment is markedly different from that of most organization for economic cooperation and development countries. Design/methodology/approach The authors selected a sample of 161 nonfinancial companies from nine MENA countries between 2014 and 2021 (corresponding to an unbalanced data panel of 486 observations). The authors used the generalized least squares regression test to examine the relationship between board attributes and earnings management. Findings The authors found that three board attributes (size, independence and gender diversity) have no effect on both types of earnings management practices, while CEO duality has no effect on accrual-based earnings management but has a significant and negative effect on real earnings management. Overall, the results suggest that most board attributes do not play a crucial role in reducing earnings management. Research limitations/implications The results provide valuable insights into the universal role of corporate governance mechanisms and raise questions about the role of the board of directors in improving reporting quality in the MENA context. Practical implications Regulators should adapt corporate governance mechanisms to the characteristics of the institutional context in which they are inserted. Originality/value To the best of the authors’ knowledge, this study is the first to examine the effect of various board characteristics on both types of earnings management practices in the MENA context. It also provides the first empirical evidence of the relationship between board gender diversity and earnings management in the MENA region.
{"title":"Does the board of directors play a role in mitigating real and accrual-based earnings management in the MENA context?","authors":"Taha Almarayeh, Beatriz Aibar‐Guzmán, Oscar Suárez-Fernández","doi":"10.1108/cg-04-2022-0192","DOIUrl":"https://doi.org/10.1108/cg-04-2022-0192","url":null,"abstract":"\u0000Purpose\u0000In light of the key role attributed to the board of directors as a monitoring tool to constrain earnings management practices, this study aims to examine the effect of some board attributes on accrual-based earnings management and real earnings management in the Middle Eastern and North African (MENA) context, whose institutional, economic and legal environment is markedly different from that of most organization for economic cooperation and development countries.\u0000\u0000\u0000Design/methodology/approach\u0000The authors selected a sample of 161 nonfinancial companies from nine MENA countries between 2014 and 2021 (corresponding to an unbalanced data panel of 486 observations). The authors used the generalized least squares regression test to examine the relationship between board attributes and earnings management.\u0000\u0000\u0000Findings\u0000The authors found that three board attributes (size, independence and gender diversity) have no effect on both types of earnings management practices, while CEO duality has no effect on accrual-based earnings management but has a significant and negative effect on real earnings management. Overall, the results suggest that most board attributes do not play a crucial role in reducing earnings management.\u0000\u0000\u0000Research limitations/implications\u0000The results provide valuable insights into the universal role of corporate governance mechanisms and raise questions about the role of the board of directors in improving reporting quality in the MENA context.\u0000\u0000\u0000Practical implications\u0000Regulators should adapt corporate governance mechanisms to the characteristics of the institutional context in which they are inserted.\u0000\u0000\u0000Originality/value\u0000To the best of the authors’ knowledge, this study is the first to examine the effect of various board characteristics on both types of earnings management practices in the MENA context. It also provides the first empirical evidence of the relationship between board gender diversity and earnings management in the MENA region.\u0000","PeriodicalId":503557,"journal":{"name":"Corporate Governance: The International Journal of Business in Society","volume":"41 11","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140425412","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Purpose This paper aims to examine how the diversity of educational levels within bank boards influences the efficiency and stability of banks operating in the Middle East and North Africa (MENA) region. Unlike previous studies, this analysis also investigates the role of board gender diversity in moderating the relationship between board educational level diversity and bank efficiency and financial stability in MENA. Design/methodology/approach In this study, a sample of 77 banks in the MENA region spanning the years 2011 to 2018 is used. The relationship between the presence of highly educated directors on the board, bank efficiency and stability is assessed using the ordinary least squares method. Additionally, the authors use the Generalized Method of Moments technique to correct endogeneity problem. Findings This study establishes a positive association between the presence of directors with advanced educational backgrounds on bank boards and bank efficiency and stability. Furthermore, the inclusion of women on the board strengthens this relationship. Practical implications These findings have important implications for policymakers and regulators in the MENA region, suggesting that promoting diversity policies that encourage the participation of highly educated directors on bank boards can contribute to enhanced efficiency and financial stability. Policymakers may also consider implementing quotas or guidelines to improve gender diversity in board appointments, thereby fostering bank performance in the region. Originality/value This study stands out for its innovation and distinctiveness, as it delves into the connection between board educational level diversity and bank efficiency in the MENA region. Notably, it surpasses previous research by investigating the moderating role of board gender diversity, thus offering valuable insights into the complex interplay between these two facets of board diversity. This contribution enriches the existing literature by providing novel perspectives on board composition dynamics and its influence on bank efficiency and stability.
{"title":"A path to success: educational board diversity and its influence on MENA banks’ efficiency and stability","authors":"Ayman Issa, Ahmad Sahyouni, Miroslav Mateev","doi":"10.1108/cg-08-2023-0339","DOIUrl":"https://doi.org/10.1108/cg-08-2023-0339","url":null,"abstract":"\u0000Purpose\u0000This paper aims to examine how the diversity of educational levels within bank boards influences the efficiency and stability of banks operating in the Middle East and North Africa (MENA) region. Unlike previous studies, this analysis also investigates the role of board gender diversity in moderating the relationship between board educational level diversity and bank efficiency and financial stability in MENA.\u0000\u0000\u0000Design/methodology/approach\u0000In this study, a sample of 77 banks in the MENA region spanning the years 2011 to 2018 is used. The relationship between the presence of highly educated directors on the board, bank efficiency and stability is assessed using the ordinary least squares method. Additionally, the authors use the Generalized Method of Moments technique to correct endogeneity problem.\u0000\u0000\u0000Findings\u0000This study establishes a positive association between the presence of directors with advanced educational backgrounds on bank boards and bank efficiency and stability. Furthermore, the inclusion of women on the board strengthens this relationship.\u0000\u0000\u0000Practical implications\u0000These findings have important implications for policymakers and regulators in the MENA region, suggesting that promoting diversity policies that encourage the participation of highly educated directors on bank boards can contribute to enhanced efficiency and financial stability. Policymakers may also consider implementing quotas or guidelines to improve gender diversity in board appointments, thereby fostering bank performance in the region.\u0000\u0000\u0000Originality/value\u0000This study stands out for its innovation and distinctiveness, as it delves into the connection between board educational level diversity and bank efficiency in the MENA region. Notably, it surpasses previous research by investigating the moderating role of board gender diversity, thus offering valuable insights into the complex interplay between these two facets of board diversity. This contribution enriches the existing literature by providing novel perspectives on board composition dynamics and its influence on bank efficiency and stability.\u0000","PeriodicalId":503557,"journal":{"name":"Corporate Governance: The International Journal of Business in Society","volume":"52 22","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140431171","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Umar Habibu Umar, Jamilu Sani Shawai, Anthony Kolade Adesugba, A. I. Jibril
Purpose This study aims to evaluate how audit committee (AC) characteristics affect the performance of banks in Africa. Design/methodology/approach The authors manually generated unbalanced panel data from 78 commercial banks operating in twelve (12) countries whose annual reports were published on the website of African Financials between 2010 and 2020. Findings The results indicate that AC size has an insignificant positive association with bank performance (return on equity and Tobin’s Q). AC independence has a significant positive association with bank performance. However, AC gender diversity has a significant negative association with bank performance. Besides, AC financial expertise has a significant positive and negative association with return on equity and Tobin’s Q, respectively. Research limitations/implications The study considered only 78 banks that operate in twelve (12) African countries. Besides, the authors consider only four (4) AC attributes. Practical implications The findings suggest the need to maintain a smaller AC, appoint more independent members to AC, reduce the number of women appointed to AC and ensure most AC members have financial expertise. These measures could improve bank performance in Africa. Originality/value Unlike previous African studies that are mostly restricted to a country level, the study examined how AC attributes influence the performance of banks that operate in Africa.
{"title":"Audit committee attributes and bank performance in Africa","authors":"Umar Habibu Umar, Jamilu Sani Shawai, Anthony Kolade Adesugba, A. I. Jibril","doi":"10.1108/cg-03-2023-0098","DOIUrl":"https://doi.org/10.1108/cg-03-2023-0098","url":null,"abstract":"\u0000Purpose\u0000This study aims to evaluate how audit committee (AC) characteristics affect the performance of banks in Africa.\u0000\u0000\u0000Design/methodology/approach\u0000The authors manually generated unbalanced panel data from 78 commercial banks operating in twelve (12) countries whose annual reports were published on the website of African Financials between 2010 and 2020.\u0000\u0000\u0000Findings\u0000The results indicate that AC size has an insignificant positive association with bank performance (return on equity and Tobin’s Q). AC independence has a significant positive association with bank performance. However, AC gender diversity has a significant negative association with bank performance. Besides, AC financial expertise has a significant positive and negative association with return on equity and Tobin’s Q, respectively.\u0000\u0000\u0000Research limitations/implications\u0000The study considered only 78 banks that operate in twelve (12) African countries. Besides, the authors consider only four (4) AC attributes.\u0000\u0000\u0000Practical implications\u0000The findings suggest the need to maintain a smaller AC, appoint more independent members to AC, reduce the number of women appointed to AC and ensure most AC members have financial expertise. These measures could improve bank performance in Africa.\u0000\u0000\u0000Originality/value\u0000Unlike previous African studies that are mostly restricted to a country level, the study examined how AC attributes influence the performance of banks that operate in Africa.\u0000","PeriodicalId":503557,"journal":{"name":"Corporate Governance: The International Journal of Business in Society","volume":"11 12","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139773908","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Umar Habibu Umar, Jamilu Sani Shawai, Anthony Kolade Adesugba, A. I. Jibril
Purpose This study aims to evaluate how audit committee (AC) characteristics affect the performance of banks in Africa. Design/methodology/approach The authors manually generated unbalanced panel data from 78 commercial banks operating in twelve (12) countries whose annual reports were published on the website of African Financials between 2010 and 2020. Findings The results indicate that AC size has an insignificant positive association with bank performance (return on equity and Tobin’s Q). AC independence has a significant positive association with bank performance. However, AC gender diversity has a significant negative association with bank performance. Besides, AC financial expertise has a significant positive and negative association with return on equity and Tobin’s Q, respectively. Research limitations/implications The study considered only 78 banks that operate in twelve (12) African countries. Besides, the authors consider only four (4) AC attributes. Practical implications The findings suggest the need to maintain a smaller AC, appoint more independent members to AC, reduce the number of women appointed to AC and ensure most AC members have financial expertise. These measures could improve bank performance in Africa. Originality/value Unlike previous African studies that are mostly restricted to a country level, the study examined how AC attributes influence the performance of banks that operate in Africa.
{"title":"Audit committee attributes and bank performance in Africa","authors":"Umar Habibu Umar, Jamilu Sani Shawai, Anthony Kolade Adesugba, A. I. Jibril","doi":"10.1108/cg-03-2023-0098","DOIUrl":"https://doi.org/10.1108/cg-03-2023-0098","url":null,"abstract":"\u0000Purpose\u0000This study aims to evaluate how audit committee (AC) characteristics affect the performance of banks in Africa.\u0000\u0000\u0000Design/methodology/approach\u0000The authors manually generated unbalanced panel data from 78 commercial banks operating in twelve (12) countries whose annual reports were published on the website of African Financials between 2010 and 2020.\u0000\u0000\u0000Findings\u0000The results indicate that AC size has an insignificant positive association with bank performance (return on equity and Tobin’s Q). AC independence has a significant positive association with bank performance. However, AC gender diversity has a significant negative association with bank performance. Besides, AC financial expertise has a significant positive and negative association with return on equity and Tobin’s Q, respectively.\u0000\u0000\u0000Research limitations/implications\u0000The study considered only 78 banks that operate in twelve (12) African countries. Besides, the authors consider only four (4) AC attributes.\u0000\u0000\u0000Practical implications\u0000The findings suggest the need to maintain a smaller AC, appoint more independent members to AC, reduce the number of women appointed to AC and ensure most AC members have financial expertise. These measures could improve bank performance in Africa.\u0000\u0000\u0000Originality/value\u0000Unlike previous African studies that are mostly restricted to a country level, the study examined how AC attributes influence the performance of banks that operate in Africa.\u0000","PeriodicalId":503557,"journal":{"name":"Corporate Governance: The International Journal of Business in Society","volume":"323 6","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139833418","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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