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Remuneration policies may differ from country to country, and their effect on bank stability could be due to the legal framework. Therefore, this study aims to investigate how the legal system impacts the relationship between CEO compensation and bank stability across countries.

To test the study hypotheses, the authors use panel data of 74 banks operating in ten OECD countries during the period 2009–2016 and apply the generalized moments method regression model to better remediate the endogeneity problem.

The findings confirm that a country’s banking regulations significantly affect its bank stability. Common law countries have less bank stability than civil law countries. This result can be interpreted by the fact that, in common-law countries, banks’ CEO are strongly protected by the law, so they allocate a large part of bank assets to risky loans to improve their variable remuneration.

The research can help policymakers understand bank stability in one country. Any legal reform would require prior knowledge of how risk-taking may arise in executive compensation.

The contribution is to explain the controversial effect of executive compensation on bank stability in the framework of legal theory. The authors argue that regulators should monitor compensation structures and that the country’s legal origin of law shapes the CEO compensation structure and is a determinant of bank stability. To the best of the authors’ knowledge, there are no studies exploring this field. So, this study tries to shed more light on the dark side of CEOs’ behavior when undertaking risky projects to maximize their remuneration.

While the significance of public cooperation for police effectiveness is widely acknowledged, less is known about factors associated with cooperation in hate crime cases. The current study aims to explore how individuals’ perspectives on police legitimacy, contact experience with police and race/ethnicity shape their willingness to cooperate with police in hate crime incidents.

This study used a sample of 693 college students and was conducted at a public university in the south-central region of the southern United States of America. Ordinary least squares (OLS) regression models were used to examine factors related to willingness to cooperate with police.

Findings show that those who have a high level of positive perceptions of police legitimacy and those who have a low level of negative personal experience with police reported more willingness to cooperate. Asian respondents were less likely to report that they would cooperate with police compared to white respondents.

This study, emphasizing the relationships between perceived police legitimacy and positive personal experiences with a willingness to cooperate in hate crime cases, has practical implications. The identification of racial/ethnic differences in cooperation attitudes, particularly the lower likelihood of cooperation among Asian respondents, contributed to the current literature and underscores the importance of considering diverse perspectives and outreach efforts.

The purpose of this paper is to provide a retrospective analysis of the Russian criminal legislation in the field of protection of economic relations in the transitional period of the economy.

Based on historical, as well as general scientific research, methods (induction, deduction, analysis, synthesis and historical) and private scientific methods for studying criminal law phenomena (formal-logical, statistical and document research method), the author managed to identify a number of patterns in the development of the Russian criminal legislation in the context of the chosen economic model.

In particular, it is noted that during the period of the destruction of the planned economic model and the choice of ways for the development of the economy, as well as at the initial stage of the transition period of the economy in Russia.

The author singles out the following patterns of development of criminal legislation in Russia: a) under the influence of a sharp change in the economic model, risks in the sphere of protection of economic relations; and b) the tasks of criminal law in the field of protection of economic relations are changing significantly: from protecting the state monopoly in most areas of economic activity to protecting market economic relations.

Charitable giving in China has moved from being subjected to government attention and public skepticism to receiving government encouragement and public support. The role played by political connections in philanthropy is indisputable, although very few studies have explored their association from the perspective of the country’s first Charity Law of 2016. This study aims to contribute to the ongoing debate about the 2016 Charity Law and offers an understanding of the future trends in corporate charitable giving.

Using empirical analysis of data collected from listed companies in China, this study analyzes the impact of political connections on corporate charitable giving before and after the 2016 Charity Law. The study adopts three leading theories from previous research into corporate charitable giving and political connections: corporate social responsibility, resource dependence theory and stakeholder theory. A conceptual framework is outlined, and hypotheses are formulated accordingly.

The results show that political connections have a substantial positive impact on corporate charitable giving, both before and after the implementation of the 2016 Charity Law, which has significantly promoted and increased the amount and proportion of charitable giving. Although the 2016 Charity Law attempted to weaken the political connections of enterprises, the influence of political connections on corporate charitable giving has proved difficult to diminish or eliminate, as charity is dominated by the state.

This study explores the association between political connections and corporate charitable giving from the perspective of China’s Charity Law of 2016.

Transitional entrepreneurship in distressed economies is a fairly new concept with respect to new ventures in such challenging economic environments. Formal institutional voids are sometimes held up as a reason for the difficulties present in distressed economies, along with exogenous shocks and other upheavals. In this research, the authors seek to contribute empirically and theoretically as to ways in which formal institutions voids can be filled by a culture developed by transitional entrepreneurs. Indeed, in transition economies, formal institutions need to be enhanced by informal institutions to control corruption and other misbehavior by authorities. Iranian economists emphasize these essential reforms to be able to manage current difficulties, yet top down policies cannot help transitional entrepreneurs benefit from the country’s value-adding cultural heritage to informally address this. To study this, qualitative research methods were used to interpret transitional entrepreneurs’ ideology and ethical routines as the ingredients of a commercial culture that can establish soft law that substitutes for formal institutions. This helps to reduce the disfunctionality of formal institutions in distressed economies.

A thematic analysis interviewing key Iranian entrepreneurs and economists is conducted. Also based on an interpretive paradigm, a hermeneutic cycle has been carried out on selected texts. Results have been verified throughout related literature as to come up with a solid synthesized interpreted outcome.

This paper contributes to theory from a new perspective by discussing transitional entrepreneurship and navigating a distressed economy; in which, ideology and ethics as the ingredients of soft law (Newman and Posner, 2018) are discussed as the base to further develop a commercial culture that fills voids of formal institutions. The formal–informal institutional cycle in distressed economies as the major difficulty entrepreneurs face (Peng and Luo, 2000) is important, because they try to increasingly enhance their move toward a market orientation (Bruton et al., 2008). The authors contribute as to how transitional entrepreneurs can complete this process of adaptation and also the fact that those informal institutions do actually respond to those adaptations. The other contribution is to enrich theories about institutions from the point of view of culture. Knowing these facts helps transitional entrepreneurs, because in distressed communities, formal institutions’ function has an important effect on economic performance (Amorós, 2009). This research’s contributions shed light to help government leaders understand the pros and cons of their actions forced on the industry. As it has been characterized in this research, it can turn in to new formal set of legitimacies (Ahlstrom et al., 2008) to root out corruption and help set the economy on a path to innovation and new venture creation.

Transitional entrepreneurs can depend on the less formal cultural-cognitive aspect of ethics and ideology. These entrepreneurs can be working on the burgeoning private sector, who want to connect with the outside effectively to overcome an economy in distress. Transitional entrepreneurs may face governmental institutional intermediaries as a barrier. Formal intermediaries tend to benefit from inefficiencies caused by hierarchal orders and will improve informality in order to overcome difficulties. In this research, institutional theory from the third pillar of the cultural-cognitive sheds light on transitional entrepreneurship in distressed economies, where inquiry is to fill voids of formal institutions as a process of possible linking between new generated soft law derived by beliefs, ideology and professional morality in order to influence (old) legitimacies. The research’s focus evolves on values transitional entrepreneurs utilize to build informal institutions and then impact further on formal institutions to handle distressed communities. This theoretical background expands on subsections to define conceptual building blocks for the study, essential aspects such as individuals as transitional entrepreneurs, the values they utilize to generate soft law, informal institutions and soft law, to manage voids in formal institutions and legitimacy building aspects in policy agenda setting for transitional entrepreneurship in distressed economies.

The aim of this study is to analyze which socioeconomic factors (economic, demographic, and political) most commonly affect the social expenditure of the European Union (EU) and Organization for Economic Co-operation and Development (OECD) countries.

A panel data fixed-effects model is employed for 34 OECD and 23 EU countries between 2000 and 2020.

Results indicate that, in all country groups, economic factors have the most significant influence on social expenditures, with income being the primary determinant, particularly in EU countries. The negative impacts of unemployment and inflation underscore the importance of counter-cyclical measures adopted by countries to maintain stability in their social expenditures. The most influential demographic factor is found as the old-age-dependency ratio. While the rule of law affects social expenditure positively, government effectiveness and female labor force participation affect it negatively. The positive effect of Konjunkturforschungsstelle (KOF) indexes shows the globalization effect, which can be attributable to the compensation hypothesis.

Governments enforce inclusive and sustainable policies to boost economic activities and GDP, thus combating inflation and unemployment and regulating the labor market and socioeconomic problems about aging populations and women’s economic participation to control social expenditures. The rule of law and institutional quality will also boost economic growth.

This study focuses on the effects of social expenditures in a broader view within the framework of the three main factors (economic, demographic, political) and attempts to determine the key factors that account for the differences in social expenditure between the OECD and EU countries.

The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-05-2023-0384

This study aims to systematise the methodology used in comparative urban planning law and propose primary contexts for comparison in planning law.

This study undertook a review of comparative law methodology discourse and sought to establish connections between the discourse and the field of planning law.

This study argues for establishment of a realistic goal for comparative planning law by focusing on the planning law's modifiability. The goal of comparison in planning law should not be to find universally desirable principles or better solutions. Rather, the goal should be to identify a motive for devising a solution. This is because it is not only difficult to establish legal values that are universally applicable to planning law but also inappropriate to determine superiority of planning laws that have been developed over time by each jurisdiction’s sovereignty and policies on land use. When determining comparable systems for analysis among legal systems that are functionally equivalent, it is important to consider the context of land use relations alongside the comparative analysis to be done. To set realistic goals, the context should not be extended indefinitely but be systematised. Based on the foundational relationship underlying planning law, including the tension between planning authorities and property owners, this study presents five specific contexts for comparative analysis: “Strength of Property Rights,” “Level of Judicial Intervention,” “Plan- or Development-led System,” “Allocation of Planning Power” and “Level of Participation.” Examination of these contexts will allow better understanding of the similarities and differences among different systems and practical application of the results of comparative studies.

This study presents a novel approach to systematising the methodology and framework of comparative planning law.

Legal systems govern social behaviour. They attempt to regulate order, collective peace and harmonious developments in society. The external social behaviour that law deals with is also a part of internal human behaviour. This external and internal nature of human behaviour, needs to be consciously studied and interlinked when legal systems desire elements of justice, equality, liberty, fraternity, dignity, integrity and unity for social collectivity. These elements, that legal systems guarantee come from an integration of individual and collective life on matters of social, political, economic etc., of various levels. The individuality and collectivity on these matters and levels are deeply psychological and spirited in sense as human behaviour operates through stimulus from inside to leave external effects outside or vice-versa through a function of thought-emotion-sensation-body complex. Thus, we see, our behaviour gets shaped by a two-way process of inner motivation and outer circumstance, individual and collective dimensions on a given matter and level. At this juncture, a critical study on this two-way relation in human behaviour and a set of unifying values to be identified for progressive intersections seem to be the future of legal systems for achieving greater goals of humanity. Additionally, legal systems that deal with justice are now becoming more than social, economic and political justice as new knowledge is revealing interrelations of spirit-mind-body or thought-emotion-sensation-body complex leaving us to think of new dimensions in justice. Thus, spirituality, as an exercise of human experiment and experience, provides a new scope for legal systems to deal with human and social behaviour to achieve order, peace and development. At this juncture, one even finds another unknown dimension gaining grounds and sinking to integrate or bring holistic responses to human problems and social challenges of the collective is the actual linking of spirituality through or with psychology or vice versa. Law and legalities of the thoughts and norms are interspersed in between these two disciplines. This is indeed a welcome trend as the psychological human and the social collective have become the axis on which every wheel of knowledge is tested and allowed to represent as spokes for inclusive, sustainable and harmonious inter-relational movement of things. One might see, know, feel or even ought to bear this interconnection that very often come in the actual spiritual practices where psychological dimensions emerge leading to wholesome experience of the state of our own individual and socio-collective nature. Among many kinds of spiritual experiences and experiments, two of them stand out for our legal consideration. One, an experience of timeless, space-less and boundless consciousness-awareness beyond life and world with which we witness, observe and understand the movement of things inside life and world, without our participation into them. Two, an experience of consciousness-awareness as power and force operating and animating through thought-emotion-sensation-body complex with our active participation in the movement of life and world. The former experience prepares the ground to remain free from all fetters of self-aggrandizing individualization before wider collectivity and, the latter experience prepares us to re-enter into wider collectivity to contribute with a freed sense of individualization, not imprisoned by its ego-aggrandizement that cuts the individual from the collective. These two spiritual experiences, one of the consciousness-awareness of freedom and, another of the consciousness-awareness with all potentials, when allowed to animate inside the human, it gives crucial understanding of the challenges of life and, pro-activation of solutions for those challenges that are extremely crucial for law and legal systems. A power of understanding the knowledge using spiritual experience of these two states of consciousness-awareness along with rationality, reason and logic, a strength operating through concentration of the energies in body aiding movement of knowledge, a harmony releasing itself through motivating-empathy and mutual-collaboration using knowledge and strength and, finally a near-perfect action operating through strategies, stages and steps in organizing daily life, human capital and all kinds of the systems of the world using knowledge, strength and harmony become our positive tools of empowerment. The combination of these two spiritual experiences of consciousness-awareness is useful to legal systems that look for solutions to human crises using interactive nature of individuality and collectivity on all issues of life, world and society. The chapter attempts to demonstrate that this kind of spirituality and its applied processes thus provide us the clue and strategy to achieve what the human nature and social existences of all kinds all over the world seek and aspire in the form of individual as well as collective peace, joy and compassion. It is also argued that this peace, joy and compassion that is spiritual in nature are in fact the origin and source of inspiration and stimulation for social, political and economic equality, liberty and fraternity in law, and the harmony and perfection of these elements seen as the justice that balances everything. The chapter demonstrates how applied spirituality can be used in law in the sense of law-making, judicial-interpretation, executive-governance, legal profession and finally a grand introduction of spirituality and its values into legal academics and research that are waiting to be liberated from the clutches of mere analytical knowledge of life and world moving towards new enriching powers of radiant collective life and wonderful harmonious world.

This paper aims to adopt a comparative method using case law, statutes and secondary literature across both jurisdictions. This paper also draws on various theories of property ownership.

This paper conceptualises the legal relations embedded within condominium housing and the various theories of property ownership to ascertain how children’s interest fit within this framework. The laws of two jurisdictions, New South Wales and Singapore, are examined to determine how their strata law responds when children’s safety is at stake.

Drawing on pluralist moral theories of property law, the thesis advanced is that children’s issues within condominiums should not be subject to majoritarian rule especially when their safety is at stake. The paramount guiding value should be ensuring their safety within multi-owned housing communities. Using the law of two jurisdictions, New South Wales and Singapore, the central argument of this paper is that the law in these jurisdictions has rightfully adopted a protective approach towards children in multi-owned properties where their safety is at stake.

The literature on the law of multi-owned housing has largely focused on governance issues such as mediating between the majority owners’ interest with that of the minority owners’ interest. Children in multi-owned developments remain an under investigated area as children’s interests do not fit within the paradigm of majority versus minority interests. The paper advances the argument that children’s interest should be viewed through either a rights-based theory or pluralists’ theories of property law. Lessons from the New South Wales and Singapore experience are also drawn which might prove useful to other jurisdictions.

This study aims to learn how a three-way interaction moderation model is used to analyse the role of country-specific characteristics, in the form of the implementation of Sharia law and legal origin in a particular country, in the choice of sukuk type.

The firm profitability and firm leverages of sukuk issuer are used as the firm characteristics that can influence the choice of sukuk type between Mudharaba sukuk, Ijara sukuk and Murabaha sukuk. The research sample of 545 global sukuk issuances, obtained from the IIFS database, includes the issuance of Mudharaba sukuk, Ijara sukuk and Murabaha sukuk from ten sukuk issuer countries all over the world.

The research results show that the probability of choosing Mudharaba and Ijara sukuk is found in issuers sukuk with a high firm leverage, while the probability of choosing Murabaha sukuk is found in issuers sukuk with a high firm profitability. A three-way interaction moderation model is used in this research to explain that sukuk issuers in countries that implement Sharia law and adopt a legal origin common law system will have a higher choice of Mudharabah and Ijarah sukuk types if the firm’s leverage is high. If the firms’ profitability is high, then the sukuk issuer prefers Murabaha sukuk.

The use of firm’s characteristic variables is based solely on trade-off theory and pecking order theory. Also, limitations on the implementation of Sharia law in countries that do not provide opportunities for countries that apply a mixed law system.

The role of Sharia law and common law legal origin is proven, through a three-way interaction model, to strengthen the interaction of the firm leverage and choice of Mudharaba sukuk.

Legal certainty for Islamic financial institutions is created in the context of ease of investing in sukuk. Flexibility in the structure is also one of the factors that encourage the development of market acceptance of sukuk. The right structure of the sukuk can be used for specific target markets.

There has been no study carried out on a three-way interaction moderation model used to analyse the role of country-specific characteristics. The role of Sharia law and common law legal origin is proven, through a three-way interaction model, to strengthen the interaction of the firm leverage and choice of Mudharaba sukuk.