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This study aims to examine the role of Australian casinos in facilitating money laundering and Chinese capital flight.

The reports and transcripts of evidence from government inquiries into money laundering in Australian casinos are integrated with analyses of Asian transnational crime.

Money laundering in Australian casinos is linked to transnational crime and Chinese capital flight. A central finding is that junket operators play a key role in facilitating money laundering. The casinos are particularly exposed to criminal influences in the Chinese very important person gambling market, since they have used junket operators and underground banks, many of whom are closely linked to major Chinese criminal groups from Hong Kong and Macau.

Very little information is available on money laundering in Australian casinos and this research has relied on the government inquiries that have been conducted over the past two years on the subject.

The author’s focus on money laundering in Australian casinos in the context of Asia-Pacific transnational crime is important for Federal and state government regulators grappling with the rapidly changing money laundering issues. The government inquiries recognised that the money laundering was related to transnational crime, but did not have the time and resources to explore the topic. The paper provides state government casino regulators and financial crime regulators with a broader international perspective to anticipate future money laundering and crime pressures facing Australia’s casinos.

Money laundering in Australian casinos has had devastating social implications on the community. My research helps to focus attention on the problems of transnational crime and money laundering.

Little research has examined the linkages between casinos and transnational crime. This study has found that Australian casinos were used to launder the proceeds of illegal drug trafficking and to facilitate Chinese capital flight. While casinos have been forced by damming government inquiries to tighten anti-money laundering controls, it is likely that there will be pressure to relax these controls in the future because of competitive pressure from other casinos in the Asia-Pacific region.

This paper builds upon managerial discretion literature to study the relationship between foreign ownership and bribery intensity.

Building on World Bank’s data of 9,386 firms from 125 countries over the period 2006–2018, this paper uses Tobit regression, ordered probit and logit models to empirically test the hypotheses.

This paper finds that firms have higher bribery intensity when executives have a higher level of managerial discretion. Smaller firms with slack financial resources tend to bribe more when they face more government intervention, munificent and uncertain industrial environment.

Extant corruption literature has addressed the effects of external institutional settings and internal corporate governance on bribery offering among multinational enterprises (MNEs). How much, and under what condition do top executives matter in bribery activities are yet to be answered. This paper integrates the concept of managerial discretion with corruption and bribery literature and offers a potential answer to the above question. In addition, prior corruption and bribery literature have primarily studied bribery through either micro- or macro-level analysis. This paper adopts multiple-level of analyses and elucidates the foreign ownership and bribery relationship from the organizational and industrial levels.

The authors analyze the association between the functional background of the compensation committee chair and CEO compensation. The analysis is motivated by the continuing debate about the reasonableness of executive pay patterns and the growing emphasis on the role of compensation committees.

The authors define three expert categories—accounting, finance, and generalist—and collect data on the compensation committee (CC) chairs of the S&P 500 firms from 2008 to 2018. The authors run an ordinary least square model and regress CEO total and cash compensation on the three expert categories.

The authors find that firms in which the CC chair has expertise in accounting, finance, and general business favor performance measures that are more aligned with accounting, finance, and general business, respectively. There is little evidence that CC chairs who are CEOs of other firms endorse more generous pay for the host CEO; the authors find some evidence that CC chairs tenure relative to the host CEO's is negatively associated with the level of the CEO's pay.

This study suggests that firms and regulators should consider the background of the compensation committee chair to understand the variations in top executive.

Companies desiring to link executive compensation to particular areas of strategy must also consider matching the functional background of the compensation committee chair with the target strategy areas. From regulatory standpoint, requiring compensation committees to operate independent of inside directors can reduce attempts by inside directors to skim the process, but a failure to also consider the impact of compensation committees' discretion over the pay-setting process can distort the executives' pay-performance relation.

This is the first study to examine the effects of the functional background of the compensation committee chair on CEO compensation.

The purpose of this paper is to discuss the response of the relevant authorities to evidence that female primary schoolteachers have an elevated suicide risk in the UK. The paper situates the recent tragic death of a primary school head teacher, following an Ofsted inspection at her school, within the wider context of teacher suicide deaths and asks what, if any, action the authorities have taken to prevent avoidable suicide deaths from occurring.

The paper examines a recent case of suicide by a primary head teacher within the wider context of statistical data on suicides by primary schoolteachers and in relation to previous cases of suicide linked to a school inspection.

The paper suggests that the relevant authorities have failed to act in relation to evidence of high suicide risk amongst female primary schoolteachers and to previous suicide deaths linked to the impact of a school inspection. Without learning from suicide deaths and acting on available evidence, there is a risk that preventable suicide deaths will continue to occur.

The paper draws together case study evidence and statistical data to make the case for regulatory reform to ensure that work-related suicides are investigated, monitored and prevented.

The purpose of this study is to establish the relationship between chief executive officer (CEO) power, audit committee effectiveness and earnings quality in regulated firms in Uganda.

The authors employed cross-sectional and correlational research designs, based on a sample of 136 regulated firms in Uganda. Data were collected using a questionnaire survey from Chief Finance Officers and Chief Audit Executives. Data were analyzed using a Statistical Package for Social Sciences and Partial Least Squares Structural Equation Modeling.

Results indicate that CEO power causes negative variances in earnings quality. The results also reveal that audit committee effectiveness positively relates relatively similarly with earnings quality. In addition, CEO power and audit committee effectiveness are negative and significantly related. The results further indicate that CEO power and earnings quality are mediated by audit committee effectiveness.

CEO power creates an opaque accounting environment which may leave the stakeholders unable to evaluate the true economic reality of the firm. Audit committee effectiveness is an important enabler for reporting high-quality earnings even in the presence of a powerful CEO.

This study contributes toward a methodological stance of using perceptions to understand earnings quality in regulated firms in Uganda. This is probably the first study that has specifically explored earnings quality using only the fundamental qualitative characteristics of accounting information (as proxies) as enshrined in the Conceptual Framework for Financial Reporting 2018 particularly in Uganda since Her adoption of International Financial Reporting Standards in 1998. Second, the indirect effect of audit committee effectiveness and CEO power is tested.

The purpose of the article was to identify the core dimensions of strategic thinking and create a measure that provides a comprehensive operationalization of the construct.

The construct validity of the measure was assessed in two studies using four samples with a total of 985 participants. The measure was created using a multi-step process that included item development and content validation, exploratory and confirmatory factor analysis, convergent and discriminant validity, criterion validity and test-retest validity.

The exploratory factor analysis (EFA) supported the existence of the three dimensions of strategic thinking (visionary, synthetic and creative thinking) as conceptually proposed. The measure was reduced to nine items. The confirmatory factor analysis (CFA) confirmed the three dimensions and revealed acceptable factor loadings and model fit. Convergent, discriminant and criterion validity were established, and the measure demonstrated acceptable test-retest reliability.

An individual's ability to think strategically is vital for making strategic decisions and relevant to upper echelon theory and strategic management. The definition and core dimensions of strategic thinking are unclear in the literature, creating confusion. This study added to the literature by defining the core dimensions of strategic thinking and developing the strategic thinking assessment (STA) to measure the construct.

This paper aims to verify whether the integration of sustainability in executive compensation positively affects firms’ non-financial performance and whether corporate governance characteristics enhance the relationship between sustainability compensation and firms’ non-financial performance and to expand the domain of the impact of sustainability on non-financial performance.

This analysis is based on a sample of companies listed on the Milan Italian Stock Exchange from the Financial Times Milan Stock Exchange Index over the 2016–2020 period. Regression analysis was used by using data retrieved from the Refinitiv Eikon database and the sample firms’ remuneration reports.

The findings of this paper show that embedding sustainability in executive compensation positively affects firms’ non-financial performance. The results of this paper also reveal that specific corporate governance features can improve the impact of sustainability on non-financial performance.

This analysis is limited to Italian firms included in the Financial Times Milan Stock Exchange Index; however, the findings are highly significant.

The findings provide regulators with useful insights for considering the integration of sustainability goals into executive remuneration. Another implication is that policymakers should require – at least – listed firms to fulfil specific corporate governance structural requirements. Finally, the findings can provide investors and financial analysts with a greater awareness of the role played by executive remuneration in the long-term value-creation process.

This paper contributes to addressing the relationship among sustainability, remuneration and non-financial disclosure, drawing on the stakeholder–agency theoretical framework and focusing on Italian firms. This issue has received limited attention with controversial results in the literature.

This study aims to examine how chief executive officer's (CEO) personality traits influence the corporate sustainability performance (CSP) of firms. The paper also examines the moderating effect of board power on this relationship.

Using a linguistic tool (IBM's Watson Personality Insight Service), the authors measured the personality traits of 229 CEOs from 176 firms from 2009 to 2018. Firm-level CSP are obtained from the Sustainalytics database. The hypotheses are tested using multiple regression analysis. The robustness of the results of the study is confirmed by addressing endogeneity concerns and by validating the measurement of CEO personality traits using Personality Recognizer, an alternative linguistic tool.

The results show that CEO personality traits of extraversion and neuroticism are significant predictors of CSP. The paper also identifies board power as a contingent factor that influences the suggested relationships.

Using upper echelon theory and cybernetic big five theory, this paper identifies CEO personality traits as important antecedents of corporate sustainability performance and adds to the micro-foundations of corporate sustainability literature. To the authors’ understanding, this is the first study that examines the influence of CEO personality on CSP using a comprehensive trait framework. The paper also demonstrates the usefulness of text-analytic tools to measure CEO personality traits, thereby contributing to the progress of upper echelon theory.

Research on the organizational ramifications of chief executive officer (CEO) greed remains scarce. This study intends to fill this gap by examining the impact of CEO greed on an important yet risky corporate strategy, corporate tax avoidance (CTA). Drawing on upper echelons theory, the authors argue that greedier CEOs tend to engage in more CTA. The relationship is weaker when CEOs experienced economic recessions in their early career and stronger when CEOs are endowed with equity ownership of their respective firms.

The authors test the hypotheses with data from US public firms from 1997 to 2008 and employ the ordinary least square regression analysis to analyze the hypothesized relationships. The authors also test the robustness of the results by performing the two-stage least square regression and propensity score matching analyses.

The findings lend broad support to all the hypotheses. The authors find that greedier CEOs tend to engage in more CTA by paying lower corporate taxes. The impact of greed on CTA is attenuated when CEOs are recession CEOs and is exacerbated when CEOs own large numbers of firm shares.

This paper contributes to the upper echelons research by investigating a novel executive personal characteristic, greed, and its negative impact on an important organizational outcome. This paper also contributes to the growing tax research that recognizes the important role executives play in shaping corporate tax strategies.

From an agency perspective, the authors investigate whether family ownership and control configurations are systematically associated with a firm's choice of auditor and audit fees. Agency theory is an economic theory that purposes the existence of a contract between two parties, principals and agents. Auditor choice and audit fees by family firms provide interesting insights given the unique nature of the agency problems faced by such firms.

The authors employ Big-4 auditors (PWC, KPMG, E&Y and Deloitte) as a proxy for high quality auditor (Big N) for the auditor choice model. For the audit fee model, the dependent variable is the natural logarithm of audit fees (LnAF). The authors use two measures for family firm as explanatory variables: (1) a dummy variable (FAM_Control), which equals one if the firm is classified as a family firm and (2) FAM_Ownership, which is an indicator variable with a value of one if a firm has family members who hold CEO position, occupy board seats, or hold at least 10% of the firm's equity. Data of Chinese listed firms from 2011 to 2021 are used. The authors adopt the Heckman (1979) two-stage model to mitigate the potential endogeneity issue involved in the selection of Big-N auditors.

The findings suggest that compared with non-family firms, Chinese family firms have a less tendency to employ Big-4 auditors due to less severe agency problems between owners and managers. Additionally, Chinese family firms sustain higher audit fees than non-family firms. Similar to the prior literature, however, Chinese family firms audited by Big-4 auditors incur lower audit fees than family firms audited by non-Big-4 auditors in this study. In contrast to young-family firms, old-family firms are less likely to pick top-tier auditors and sustain lower audit fees. Consistent and robust results are found from endogeneity tests and sensitivity analyses.

The empirical evidence provides a unique insight, for accounting practitioners, policymakers, family owners and other capital market participants concerning the diverse effects of various family ownership and control features on selecting high-quality auditors and audit fees. This study advances the understanding, showing that a lower demand for audit quality occurs in Chinese family firms as they encounter less severe Type I agency problems. However, the more severe Type II agency problems in Chinese family firms sustain higher audit fees due to higher audit risk and greater audit effort.