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The aim of this paper is to study the effects of commercially available antioxidants on the oxidation stability of white mineral oils (paraffin oil).

Twelve commercially available antioxidants (Chimassorb 81, Tinuvin 326, Tinuvin 765, Tinuvin 571, Irganox L57, Irganox L109, Irganox L101, Irganox L115, Irganox L06, Irgafos 168, Naugard 445, BHT) were added to pharmaceutical and technical grade white mineral oils at 0.1%, 0.2%, 0.3%, 0.6% and 0.8% (w/w) concentrations. Light, heat and oxygen were applied to induce and accelerate oxidation. Total acid number, viscosity and 2,2-diphenyl-1-picrylhydrazyl radical scavenging activity of the oils were measured to evaluate the performance of the antioxidant additives.

Results showed that combined heat and oxygen treatment was the most effective of the three conditions tested to cause oxidation. Based on the data, the best antioxidant additives to be used in white oils are decided to be Irganox L06 and Irganox L101. It was also found that the grade of oils (technical or pharma) did not create a significant difference in the results obtained.

To the best of the authors’ knowledge, this is the first study that reports effects of antioxidant addition on the oxidative properties of white mineral oils. This study advances knowledge of the behavior of white mineral oils under real atmosphere and provides comprehensive data on how the antioxidants affect the light, thermal, oxidative degradation of white mineral oils. The data presented also provide an insight to extend life expectancy of white mineral oils.

Introduction – The banking sector is one of the most important building blocks of the financial system. A failure in the banking sector can cause serious problems in a country’s economy. In order for countries to achieve economic growth and development goals, the banking sector, which affects all sectors significantly, needs to be strong. Countries with a robust and reliable banking system have a high credit rating. As a result of this high credit rating, the interest of foreign capital in the country increases. Thus, the credit volume of banks expands and loans are provided at a more appropriate rate for investments. In this respect, the performance and profitability of banks are important. The CAMELS performance model is a valuation system used to determine the general status of banks. The CAMELS model consists of six components. According to this, C represents capital adequacy; A, asset quality; M, management adequacy; E, earnings; L, liquidity; and S, sensitivity to market risks.

Purpose – The purpose of this study is to demonstrate the effect of the CAMLS variables on the variable E.

Methodology – In the implementation part of the study, the data of 11 banks in the BIST Bank Index between 2004 and 2018 were used. In the analysis part of the study, a panel data analysis method was used.

Findings – The capital adequacy (C), management adequacy (M) and liquidity (L) variables were effective on profitability. This study revealed the importance of the capital, management and liquidity variables, which are internal factors, in increasing the profitability of banks.

This research aims to find out whether intrinsic and extrinsic religiosity affect product attitude functions (value-expressive, social-adjustive).

The population of the research consists of Muslim consumers in Turkey and Christian consumers in Portugal. Using the convenience sampling method, the data was obtained from 800 questionnaire forms which consist of 400 forms filled by Muslim consumers in Turkey and 400 forms filled by Christian consumers in Portugal. Smart PLS 3 (Partial Least Squares) statistical program was used to test hypotheses.

Results of the analyses show that the intrinsic religiosity of Muslim Consumers living in Turkey and Christian consumers living in Portugal negatively affects the value-expressive and social adjustive attitude. Extrinsic religiosity, on the other hand, has been found to have a positive effect on the functions of value-expressive and social-adjustive attitudes within the consumers of both countries.

There are studies on religiosity and consumer attitudes in the Turkish literature (Kurtoglu and Çiçek, 2013; Uyar et al., 2020; Demirag et al., 2020). Religiosity dimensions (intrinsic/extrinsic religiosity); however, have been neglected in the Turkish literature. This study provides a detailed evaluation of the effect of these dimensions on the dependent variable. Additionally, this study emphasizes the relational aspect of attitude dependent variable and religiosity dimensions by approaching it through the context of value-expressive and social-adjustive attitude. Thus, it is aimed to help practitioners and the literature gain a different perspective by referring to the attitude functions whose foundations were laid in the studies of Smith et al. (1956), Katz (1960) and strengthened in studies like Wilcox et al. (2009). By comparing two different religions, the study results are analyzed in the context of different regions and cultures. This comparison can be beneficial both for local and international investors as religious and cultural factors play an important role in local and cultural investment decisions. The results of this study are thought to contribute to the consumer behavior literature and to public authorities in terms of evaluating the level of religiosity. In addition, this study can have practical results for the practitioners in both Portugal and Turkey.

This study aims to analyse whether Sharia-compliant companies have better sustainability performance, especially in the midst of the COVID-19 pandemic. The pandemic context is worth investigating as there is a concern that companies will reduce their sustainability activities to focus more on economic recovery, thereby leading to lower sustainability performance.

This study uses data from companies listed on Indonesian and Malaysian stock exchanges. These two countries have experienced rapid developments in Islamic finance and possess similar criteria in assigning the Sharia compliance label to a company. The data on sustainability performance and its three dimensions (environmental, social and governance) were gathered from Refinitiv (Thomson Reuters) and analysed using panel data regression.

The results show that Sharia-compliant companies had a higher sustainability performance in all research periods, but not during the COVID-19 pandemic. This implies that the pandemic has not triggered a need for Sharia-compliant companies to improve their sustainability performance. The results can be interpreted that sustainability performance is not only at stake during the COVID-19 pandemic but it can also indicate a “business-as-usual” approach applied by companies regardless of the Sharia-compliant label.

Sustainability performance has been intensively investigated in prior research, but how it is related to the current health crisis and Sharia compliance has been scantily studied and becomes the originality of this research.

Amid growing stakeholder needs, this study aims to assess the effect of boardroom characteristics on the disclosure of forward-looking information by listed firms on the Ghana stock exchange (GSE). Further, it investigates the mediating role of firm size in the relationship between boardroom characteristics and forward-looking information disclosure (FLID).

Using data from the annual reports of a sample of firms on the GSE in 2019 and multiple regression analysis, the effect of boardroom characteristics on the disclosure of forward-looking information is ascertained.

The results depict that board gender diversity, i.e. female representation on the board, is positive and significantly related to firms’ disclosure levels on the GSE. Similarly, board independence and auditor type have a positive and significant relationship with FLID, whereas profitability and financial leverage do not affect disclosure levels. The further analysis depicts that the relationship between board size and FLID is mediated by firm size.

This study’s findings would aid management, market regulators and investors in Ghana and other developing contexts assess mechanisms that would increase FLID among firms to satisfy stakeholders.

This paper focuses on the extent of FLID after the setbacks and subsequent rejuvenation of Ghana’s financial and nonfinancial system. Specifically, this paper adds to the few studies on the African continent that examined the influence of boardroom characteristics on FLID.

Corporate leadership and environmental, social and governance (ESG) performance are closely intertwined, as effective corporate leadership can facilitate the achievement of strong ESG performance. Thus, the purpose of the study is to investigate the impact of corporate board leadership on the ESG performance of listed firms.

The sample has been taken from the listed firms of the Nifty 500 index spanning the period of 10 years from 2012 to 2022. Dynamic panel data estimations are applied through a fixed effect model.

The findings of this study revealed that board size, board independence and board qualification have a significant positive influence on ESG performance. It is evident that good corporate governance practices can positively influence ESG performance by fostering accountability, transparency and ethical behavior, as well as better integrating ESG considerations into their decision-making processes and ensuring that ESG issues are prioritized at the highest levels of management. Further findings also revealed that chief executive officer (CEO) duality has a significant negative relationship with ESG performance, which goes against the belief of stakeholder theory.

It has practical implications for policymakers, as they can enact new regulations pertaining to the CEO’s position in the organizations to make corporate governance responsible for improved sustainability and ESG performance.

There are very few studies analyzing the impact of corporate board structure on ESG performance related to emerging markets. Thus, this study contributes to that literature by using the methodology GMM panel data for the first time as per our knowledge

This paper aims to analyze the determinants of Portuguese energy companies' performance.

To achieve our objective, we have used data from 457 Portuguese energy companies, in the period between 2011 and 2018. Three dependent variables were tested using panel data, through the generalized method of moments (GMM) estimation method.

The results point out that the determinants of companies' performance change according to how different stakeholders appreciate corporate performance. In general, shareholders are concerned with maintaining their levels of profitability over time as well as with the company's market image. Managers are centered on maintaining solid margins on EBITDA through good management of cash flow, leverage and current assets. For the rest of the stakeholders, including global society, debt and investments in tangible fixed assets reduce profitability while investments in immaterial assets help to create value and performance for energy companies.

As far as the authors are aware, this is the first time that a study has been carried out in the Portuguese energy sector using the GMM-system model for three different stakeholders' views of corporate performance determinants.

The purpose of this study is to investigate the effect of accounting information quality (AIQ) and firm risk on the corporate sustainability performance (CSP) of Turkish listed firms.

This study used data of 70 firms listed on Istanbul Stock Exchange during the period 2014–2019. Binary and ordinal logistic regression models are used to examine the factors affecting CSP as proxied by the membership to BIST Sustainability Index.

The results of this research indicate that AIQ is negatively related to CSP in firms with severe agency problem. The results also show a significant negative relationship between accounting earnings volatility and CSP. However, the effect of stock return volatility on CSP is not significant. Furthermore, the findings reveal that the possibility of being a member of Turkish sustainability index is higher for larger firms, firms that are included in BIST Corporate Governance Index and firms with high leverage, more research and development (R&D) intensity and high brand value.

The results of this study provide implications for policymakers, investors and firms about the role of firm characteristics in determining CSP.

To the author's knowledge, this study is the first to explore the effect of AIQ and firm risk on CSP in the Turkish context.

The purpose of this study is to empirically examine the impact of ownership structure variables on the level of sustainability reporting (SR) of listed BRICS energy firms as well as the moderating role of the board sustainability committee on this relationship.

This study used a sample of 1,260 firm-year observations from BRICS for the period 2010–2019. This study uses the Bloomberg database, companies’ annual reports and companies’ websites for data collection and the ordinary least squares (OLS) and instrutemental variables (IV) two-stage least squares (2SLS) regressions for data analysis.

This study provides empirical evidence that foreign ownership, managerial ownership and blockholder ownership have a positive and statistically significant impact on the level of SR. However, the results indicate institutional ownership impacts SR negatively. The findings remain qualitatively the same after addressing endogeneity concerns using the IV 2SLS regression method.

This paper has some limitations. This study focuses on listed companies in BRICS. Therefore, future studies should look at non-listed small and medium enterprises. Similarly, because this study focuses on emerging economies, future studies should consider comparative studies between developed and developing economies.

This study makes significant empirical, theoretical and regulatory contributions to policymakers, investors and management on the ownership type that positively influence the level of SR.

This study contributes to the corporate governance and sustainability literature and extends existing empirical literature on the role of ownership structure on the level of SR in the context of emerging economies. This study provides important theoretical and empirical evidence for regulators and policymakers.