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This study aims to investigate the effect of income and asset diversification on earnings management using discretionary loan loss provisions (LLP) in banks, and the role of risk level in mediating this effect.

A sample of banks operating in Middle East and North Africa countries was used to test the mediation model of Baron and Kenny (1986) with different measures of diversification and risk.

The results show that bank income and asset diversification have unique and combined effects on earnings management. The results also support the idea that a risk-mediating effect contributes to explaining this relationship among banks. Specifically, bank diversification strategies positively affect LLP-based earnings management by increasing bank risk. This result is relevant for conventional banks. However, only a direct and positive effect of diversification strategies on LLP-based earnings management can be observed in Islamic banks, and the indirect effect is not supported.

This study extends previous research by examining the unique and combined effects of income and asset diversification strategies on earnings management in the banking sector. Specifically, it provides new evidence that diversification strategies increase LLP-based earnings management, both directly and indirectly, through bank risk.

This research aims to investigate how emerging destinations cope with digitalization of information, where they are in the process and how digitalization of information takes place in destination marketing organizations (DMOs). As a case for emerging destinations that must deal with the negative consequences of the digital divide, the Vietnamese Mekong Delta (VMD) will be examined. A new framework, solutions in general, and potential innovative approaches will be presented.

A mixed methods approach was used. Firstly, a content analysis comprising 68 criteria to examine 10 destination websites was conducted to evaluate the performance of provincial destination websites of VMD. Secondly, the authors interviewed five managers from VMD DMOs to reveal the strategy, status quo and their challenges with digitalization.

Some digitalization is evident in VMD DMOs, with the digitization of tourist information provision developing from analog formats to digital modes. The content analysis of the websites shows that provincial destination websites of VMD perform well with regard to communication but need improvements for transaction, and especially relationship aspects. Emerging destinations like VMD DMOs are reaching the second or third level in the digitalization process. Yet they face challenges with human and financial resources.

This research provides recommendations concerning destination website performance, the process of digitalization and how to promote digitalization and apply more digital instruments to move to the next stages of destination digitalization. Also, suggestions on how to overcome existing challenges/barriers in similar areas of the world are provided.

A new, extended more granulated version of the digitalization framework by Karpova et al. (2019) has been developed. The new model acknowledges the continued importance of printed information, provides information about the sequence of steps how to implement website dimensions, and which instruments are realistic to implement in different levels of digitalization considering the challenges and barriers developing destinations face.

Drought and salinity intrusion aggravated by climate change threaten agricultural livelihoods in Viet Nan's Mekong Delta. In response, authorities have built water management infrastructure for irrigation and salinity protection. This study assessed the impact of one such project, the Ba Lai dam in Ben Tre province, on the livelihoods of aquaculture farmers.

This study uses the Sustainable Livelihoods Framework to assess the impact of the Ba Lai dam on the livelihood capitals of 18 farming households in four communes, located both upstream and downstream of the dam.

The authors find that, apart from some positive effects, the dam has also brought negative environmental consequences, such as increased water pollution. The authors also find that farmers have responded to the changes by adapting their livelihood practices.

The samples were relatively small, encompassing four communes in Ben Tre province. On the other hand, this case study is instructive to the many ongoing infrastructure projects in the Vietnamese Mekong Delta.

The project have caused an increase in water-related social conflict.

The case of the Ba Lai dam provides a cautionary example for infrastructure-based water management plans, both in Viet Nam and more broadly. The study suggests the need to strengthen community participation and prioritize impacts of farmers' capital assets when constructing water management infrastructure for climate change adaptation.

This chapter analyzes how the macro-environment determines corporate dividend decisions. First, political factors including political uncertainty, economic policy uncertainty, political corruption, and democracy may have two opposite effects on dividend decisions. For example, firms learn democratic practices to improve their corporate governance, but dividend policy may be the outcome of strong corporate governance or the substitute for poor corporate governance. Second, firms in countries of high national income, low inflation, and highly developed stock markets tend to pay more dividends. A monetary restriction (expansion) reduces (increases) dividend payments, as economic shocks like financial crises and the COVID-19 may negatively affect corporate dividend policy through higher external financial constraint, economic uncertainty, and agency costs. On the other hand, they may positively influence corporate dividend policy through agency costs of debt, shareholders' bird-in-hand motive, substitution of weak corporate governance, and signaling motive. Third, social factors including national culture, religion, and language affect dividend decisions since they govern both managers' and shareholders' views and behaviors. Fourth, firms tend to reduce their dividends when they face stronger pressure to reduce pollution, produce environment-friendly products, or follow a green policy. Finally, firms have high levels of dividends when shareholders are strongly protected by laws. However, firms tend to pay more dividends in countries of weak creditor rights since dividend payments are a substitute for poor legal protection of creditors. Furthermore, corporate dividend policy changes when tax laws change the comparative tax rates on dividends and capital gains.

This chapter presents both main arguments of dividend policy theories and their empirical evidence. According to Miller and Modigliani (1961), dividend decisions are not relevant to firm value in a perfect capital market. Nevertheless, there are several market frictions in the real world (e.g., information asymmetry, agency problems, transaction costs, firm maturity, catering incentives and taxes). Therefore, academics use them to develop theories which help them explain corporate dividend decisions. Particularly, signaling theory considers dividend payments as a signal about firms' future prospects since outside investors face information disadvantage. “Bird-in-hand” theory argues that investors prefer dividends to capital gains since the former have lower risk than the latter. Agency theory is developed from the conflict of interest between corporate managers and shareholders. Corporate managers have high incentives to restrict dividend payments. Furthermore, transaction cost theory and pecking order theory posit that firms prefer internal to external funds. This drives firms to hold more cash and pay less dividends. Life cycle theory explains dividend policy by firm maturity. Mature firms have fewer investment opportunities, and thus, they tend to pay more dividends. Catering theory states that dividend decisions are based on investors' demand. Firms pay more dividends since investors prefer dividends and assign higher value to dividend payers. Tax clientele theory argues that firms that have corporate dividend policy rely on the comparative income tax rates for dividends and capital gains. Under the tax discriminations against dividends, firms tend to restrict their dividends in order to increase their stock prices.

This chapter analyzes how the internal environment determines corporate dividend decisions. First, dividend policy is influenced by strategic and financial issues. Corporate strategies are developed by top managers to achieve firms' missions, visions, and long-term goals while business strategies are designed by middle managers to maintain firms' competitive advantages. These strategies affect corporate dividend decisions through corporate performance and business operations. In addition, many financial characteristics are important determinants of dividend policy. Financial characteristics are classified into three groups, namely performance-related issues (e.g., firm profitability, free cash flow, and stock liquidity), leverage-related issues (e.g., debt ratio, asset tangibility, business risk, and firm size), and investment-related issues (e.g., investment opportunities and firm maturity). Firms with high profitability, free cash flow tends to pay more dividends. Stock liquidity may have a positive effect on dividend payments through lowering costs of equity; however, it may also have a negative effect through weakening the signaling motive. Moreover, firms with high debt ratio, low asset tangibility, high business risk, and small size face higher costs of external financing. Therefore, they have low incentives to pay dividends. When firms have more investment opportunities, they are more likely to restrict dividends and save cash for their investment projects and vice versa. Second, internal stakeholders may influence corporate dividend policy since their benefits are closely related to dividend decisions. Shareholders, directors, the chief executive officer, and employees have different characteristics, positions, and hold various proportions of shares. Therefore, they create pressures on dividend decisions to protect their wealth.

The COVID-19 pandemic created not only a public health crisis but also the largest disruption to the global economies. The purpose of the paper is to investigate the adverse impacts of the pandemic on self-employment including job loss, income reduction and cut back in work hours and how these impacts were related to the well-being the self-employed. The authors also examine how self-employers responded to adversity in different cultural settings.

The main sample was obtained the Gallup World Poll that covers more than 39,000 individuals across 55 countries over the period from October 2020 to June 2021. The ordinary least square was the main choice of methodology. The paper employs the Oaxaca-Blinder decomposition technique to quantify the gap in financial loss between self-employed and employed individuals. Finally, the moderated mediation analysis allows the authors to examine how financial loss mediates the reduction in well-being of self-employers.

The paper finds that self-employers were 29% more likely to lose their businesses than paid individuals to lose their jobs and perhaps as a result, they were 50% more likely to experience lower work hours and less income. The findings suggest that the impact of the COVID-19 pandemic varied across countries. The financial gap between self-employment and full-time employment was narrower in countries with individualism, low uncertainty avoidance and propensity for long-term future. Finally, the paper shows that although financial loss associated with the coronavirus situation mediated the relationship between self-employment and reduced wellbeing, the positive relationship between self-employment and life satisfaction (wellbeing) held amid the pandemic. Despite all the pecuniary setbacks relative to full-time employment, self-employers report higher subjective wellbeing than regular wage earners during difficult times.

The earnings gap between self-employers and employees persists (and increase) during adverse conditions may cast into doubt the efficiency of the economic system that ensures no one is left behind. In addition, contextual factors such as cultural values should also be taken into consideration in reducing the earning gap between self-employment and regular employment. It is also implied that the self-employed choose to engage in self-employment due to psychological and emotion benefits rather than material achievements.

This study has quantified the income gap between self-employment and employed individuals in the context of adverse economic conditions. This study also highlights the fact that despite all the financial setbacks, self-employers are happier than employed individuals and they engage in self-employment as an important way to pursue happiness. This highlights well-being as the critical non-pecuniary benefits of the career choice of and transition into self-employment that have been confirmed in extant entrepreneurship literature.

Of critical concern to the world is the need to reduce consumption and waste of natural resources. This study provides a multi-level exploration of the ways situational and transformational links between levels and challenges are related to the adoption and utilization of material flow cost accounting in Vietnam, to encourage green productivity.

Based on triangulation of public documents at different institutional levels and a set of semi-structured interviews, situational and transformational links and challenges for material flow cost accounting in Vietnam are examined using purposive and snowball sampling of key actors.

Using a multi-level framework the research identifies six situational and transformational barriers to implementation of material flow cost accounting and suggests opportunities to overcome these. The weakest links identified involve macro-to meso-situational and micro-to macro-transformational links. The paper highlights the dominance of meso-level institutions and lack of focus on micro transformation to cut waste and enable improvements in green productivity.

The paper identifies ways for companies in Vietnam to reduce unsustainability and enable transformation towards sustainable management and waste reduction.

The paper is the first to develop and use a multi-level/multi-time period framework to examine the take-up of material flow cost accounting to encourage transformation towards green productivity. Consideration of the Vietnamese case builds understanding of the challenges for achieving United Nations Sustainable Development Goal number 12, to help enable sustainable production and consumption patterns.