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Construction projects, and particularly highway infrastructures, are known to be major contributors to the socio-economic growth of developing countries. However, these types of projects are infamous for being highly risky due to the interplay of numerous risk factors. This study aims to explore the key risk factors impacting on the performance of highway infrastructure projects in Nigeria from the contextual viewpoint of key industry stakeholders.

Qualitative data was collected using semi-structured interviews. Specifically, 17 in-depth expert interviews were conducted with experienced stakeholders in the highway sector of the Nigerian construction industry. The collected data was transcribed and analysed using an established coding framework (grounded on case study approach, principles of thematic analysis and saliency analysis).

Overall, 17 key risks were identified from the data analysis process, and 6 risks were recognised as the most significant, based on the combination of prevalence of occurrence and significance of the coded information. The six top risks were: change in government, corruption, cost of construction materials, inflation, project funding issues and construction project delay. However, the first two of these risks (change in government and corruption) are politically related, which is specific and unique to the setting of Nigeria and thus might be seen as discouraging indicators that could have an impact on attracting foreign investors/contractors to Nigeria.

The study addressed the gap related with identifying context-specific risk factors impeding the performance of highway projects in Nigeria from the viewpoints of industry experts. It is expected that the findings will provide a better insight into the various risk factors and thus aid relevant policymakers to provide context-specific mitigating strategies.

The present paper aims at the identification of the critical variables of risk-based auditing (RBA). The variables under examination are the internal audit (IA), the audit committee (AC) and the cooperation between the RBA and the stakeholders (audit committee, external auditors, internal auditors, board of directors, fraud investigators, chief risk manager) (COOP).

A questionnaire survey was conducted among 176 Greek companies. The questionnaires were addressed to accountants, internal auditors, managers, chief risk managers and the board of directors. A total of 96 questionnaires have been collected and analyzed. PLS-SEM modeling was used as a tool to test hypotheses and analyze the findings.

The results show that three variables, i.e. the internal audit, the audit committee and the RBA cooperation with stakeholders have a statistically significant and positive effect on risk-based auditing (RBA). Additionally, the existence of partial-complementary mediation of the internal audit in the audit committee-RBA interaction is confirmed.

This study is an original research that identifies the essential variables of risk-based auditing in Greek companies. It attempts to analyze the perceptions of all stakeholders in risk-based auditing, including the internal audit, the audit committee, etc. and is not restricted only on internal auditors. Furthermore, the analysis is conducted with PLS-SEM Modeling, which is an innovative tool of testing hypotheses and analyzing results.

This research paper aims to investigate the effects of internal audit’s (IA) use of data analytics and the performance of consulting activities on perceived IA quality.

The authors conduct a 2 × 2 between-subjects experiment among upper and middle managers where the use of data analytics and the performance of consulting activities by internal auditors are manipulated.

Results highlight the importance of internal auditor use of data analytics and performance of consulting activities to improve perceived IA quality. First, managers perceive internal auditors as more competent when the auditors use data analytics. Second, managers perceive internal auditors’ recommendations as more relevant when the auditors perform consulting activities. Finally, managers perceive an improvement in the quality of relationships with internal auditors when auditors perform consulting activities, which is strengthened when internal auditors combine the use of data analytics and the performance of consulting activities.

From a theoretical perspective, this research builds on the IA quality framework by considering digitalization as a contextual factor. This research focused on the perceptions of one major stakeholder of the IA function: senior management. Future research should investigate the perceptions of other stakeholders and other contextual factors.

This research suggests that internal auditors should prioritize the development of the consulting role in their function and develop their digital expertise, especially expertise in data analytics, to improve perceived IA quality.

This research tests the impacts of the use of data analytics and the performance of consulting activities on perceived IA quality holistically, by testing Trotman and Duncan’s (2018) framework using an experiment.

The success of public–private partnership (PPP) projects is highly correlated to the successful management of risks encountered during the operation phase. PPP projects are especially exposed to risk due to the long operation period over which revenues need to be generated to recoup substantial initial investment and operational running costs. Despite the critical impact of risk exposure, limited research has been specifically undertaken on the matter of operational risk management. This study seeks to address this oversight by identifying and evaluating operational risk management strategies for PPPs.

Vulnerability theory is the theoretical lens used, with context drawn from Chinese PPP projects. Based on the data collected from expert interviews and questionnaires, 28 operational risk management strategies are identified. A fuzzy synthetic method is employed to analyze the effectiveness of the 28 strategies.

The findings reveal that providing an exit mechanism clause into the contract, establishing a comprehensive performance evaluation mechanism and developing a clear compensation mechanism are the top three effective strategies. This study also reveals that risk mitigation approaches that reduce vulnerability prove more effective than attempts to reduce external threats. Specifically, strategies aimed at managing contract, political, technical and financial risk are the most effective.

The findings of this study extend current knowledge regarding the risk management of PPP projects. They also offer a reference by which practitioners may select effective operational risk management pathways and thereby, galvanize the sustainable development of PPPs.

The purpose of this study is to investigate the influence that technological, environmental and organizational factors have on the rate of Internet of Things (IoT) adoption within the logistics industry. In addition, the moderating effect that the risk factor has on the technological, environmental and organizational factors regarding the implementation of IoT in logistics.

For the purpose of testing the models and hypotheses, a survey was carried out in order to collect the responses from currently employed individuals at various companies working in the field of logistics or IoT. For the purpose of analysis, the authors made use of the partial least squares structure equation model (PLS-SEM) technique.

Findings of this study concluded that technology- and environmental-related factors significantly affect the adoption of IoT in logistics, while risk acts as a moderator for the technological-related factor only in the adoption of IoT in logistics.

The relevance of the authors' study lies in the growing importance of IoT in logistics and the need for logistics companies to understand the factors that impact the adoption of IoT in their operations. By identifying and analyzing the factors that influence IoT adoption in logistics, the authors' study provides valuable insights that can help logistics companies make informed decisions about whether and how to adopt IoT.

The research will help organizations make strategies for the successful adoption of IoT and ease the lives of all the stakeholders.

In this research, the authors attempted to find the factors that influence the adoption of IoT in logistics management. The influence of the technological, environmental, organizational and risk-related factors on the adoption of IoT in logistics management was studied. The moderating effect of risk over these factors on the adoption of IoT in logistics was also analyzed. This is original work and has never been done earlier.

This paper aims to investigate the impact of family involvement in ownership and governance on the quality of internal auditing.

Leveraging a hand-collected data set of listed family firms from 2014 to 2020, this study uses regression analyses to investigate the impact of family ownership, family involvement on the board, family CEO and the generational stage of the family business on the quality of internal auditing.

The results provide evidence that family ownership is positively associated with the quality of internal auditing, while later generational stages of family businesses have the opposite effect. Additional analyses reveal that the presence of a sustainability board sub-committee moderates the relationship between generational stages of family businesses and the quality of internal auditing function.

This paper does not consider country-institutional factors and other potentially family-related antecedents or governance factors that may affect the quality of internal auditing.

The results are informative for investors and non-family stakeholders interested in understanding under which conditions family-related factors influence the quality of internal auditing functions.

This study offers fresh evidence regarding the relationship between family-related factors and the quality of internal auditing and board sub-committees that moderate such a relationship in family businesses.

Amid public acknowledgment of recurring ethical violations in the volatile financial service industry, internal auditing (IA) professionals do not seem to have done enough to perform their professional responsibility as a line of defense for their employing organizations. This chapter explores whether changes in an IA approach can effectively enable IA as a practice to fulfill its governance role in managing “conduct risk,” i.e., any behavior in a firm that could cause problems to consumer protection, market integrity or competition. We examine the ethical implications of the existing compliance-based IA approach and explain its ineffectiveness in auditing conduct risk within a turbulent environment. Using action research, we explain the germane changes necessary to define a new conduct-focused IA approach capable of predicting and preventing ethical wrongdoing. A conduct-focused approach launches auditors into unfamiliar but strategically critical areas to not only identify material risks but also add value to their organizations. The authors further examine how a change in the auditor’s mindset and other factors promote the effectiveness of the new IA approach in a sustainable way. This chapter contributes to the literature by investigating how internal auditors can better fulfill their professional responsibility when adopting a conduct-focused approach.

Assuming that knowledge management is a pivotal issue in business to improve and maintain competitive advantages, this paper aims to investigate how knowledge management is useful to face challenges about the integration of environment, social and governance (ESG) factors, filling the gap in the literature regarding knowledge management and ESG in the banking world by considering a real case.

Starting from the analysis of the more relevant literature on the topic, this paper describes an illustrative real case through interviews with the credit department of an Italian bank that has adopted a specific sustainability approach. This paper discusses this case in the context of the outlined theoretical background to explore the trends and challenges of ESG integration. The case study allows us to evaluate and expand our theoretical framework, leading to a greater understanding of the complex phenomenon under investigation.

Based on the analysis of the literature combined with the insights that emerged from the experience of the real case, this study shows that there are three primary factors to consider: data issues, competencies and workflow. This study outlines an enhanced knowledge management framework displaying the complexity emerging from the integration of ESG into a bank’s credit department and identify the best practices to pursue.

Given the increasing pressure toward the incorporation of ESG factors into the banking sector, the practical implications of the study are relevant as they provide guidelines for action. Specifically, the practical problems highlighted by the real case, like the priority on themes such as questionnaires, the need for ad hoc commissions and workflow, drive the attention of decision-makers on key aspects to effectively adopt an advanced knowledge management approach aimed at improving the ESG integration. Considering the effect of the banking system on the economy, the best practices this study has identified can also have a positive impact on society as a whole.

The proposed enhanced knowledge management framework offers a guideline to orchestrate ESG integration into banks’ credit departments, considering the increasing need to frame a sustainability-oriented strategic approach that emerges from academic and practical enquiries. This research represents an initial attempt to investigate the integration of ESG factors in the banking system through the lens of knowledge management. The strategic nature of the ESG approach clearly appears in a dynamic environment where stakeholder pressures and regulatory evolutions are strong.

Drawing insights from institutional theory, this paper aims to examine whether and to what extent banks have reconfigured their management control systems (MCSs) in response to growing institutional pressures towards sustainability, understood as environmental, social and governance (ESG) issues.

The authors conducted an exploratory study at the three largest Italian banking groups to shed light on changes made in MCSs to account for ESG issues. The analysis is based on 12 semi-structured interviews with managers from the sustainability and controls areas, as well as from other relevant operational areas particularly concerned with the integration process of ESG issues. Additionally, secondary data sources were used. The Malmi and Brown (2008) MCS framework, consisting of a package of five types of formal and informal control mechanisms, was used to structure and analyse the empirical data.

The examined banks widely implemented numerous changes to their MCSs as a response to the heightened sustainability pressures from regulatory bodies and stakeholders. In particular, with the exception of action planning, the results show an extensive integration of ESG issues into the five control mechanisms of Malmi and Brown’s framework, namely, long-term planning, cybernetic, reward/compensation, administrative and cultural controls.

By identifying the approaches banks followed in reconfiguring traditional MCSs, this research sheds light on how adequate MCSs can promote banks’ “sustainable behaviours”. The results can, thus, contribute to defining best practices on how MCSs can be redesigned to support the integration of ESG issues into the banks’ way of doing business.

Overall, the findings support the theoretical assertion that institutional pressures influence the design of banks’ MCSs, and that both formal and informal controls are necessary to ensure a real engagement towards sustainability. More specifically, this study reveals that MCSs, by encompassing both formal and informal controls, are central to enabling banks to appropriately understand, plan and control the transition towards business models fully oriented to the integration of ESG issues. Thereby, this allows banks to effectively respond to the increased stakeholder demands around ESG concerns.