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Corruption was a serious problem in Singapore during the British colonial period and especially after the Japanese Occupation (February 1942–August 1945) mainly because of the lack of political will to curb it by the incumbent governments. In contrast, the People’s Action Party (PAP) government, which assumed office in June 1959 after winning the May 1959 general election, demonstrated its political will with the enactment of the Prevention of Corruption Act (POCA) in June 1960, which strengthened the capacity of the Corrupt Practices Investigation Bureau (CPIB) to combat corruption effectively. Indeed, Singapore’s success in curbing corruption is reflected in its consistently high scores on Transparency International’s Corruption Perceptions Index (CPI) from 1995 to 2012 as the least corrupt country in Asia. Singapore was ranked first with Denmark and New Zealand in the 2010 CPI with a score of 9.30. Similarly, Singapore has been ranked first in the Political and Economic Risk Consultancy (PERC) annual surveys on corruption from 1995 to 2013. Why has Singapore succeeded in minimizing the problem of corruption when many other Asian countries have failed to do so? What lessons can these countries learn from Singapore’s experience in combating corruption? This chapter addresses these two questions by first describing Singapore’s favorable policy context, followed by an identification of the major causes of corruption during the British colonial period and Japanese Occupation, and an evaluation of the PAP government’s anti-corruption strategy.

In response to stakeholder concerns for social responsibility in global supply chains, companies have implemented codes of conduct in outsourcing activities. The purpose of this paper is to examine empirically how a multinational buying office implements its social responsibility and the codes in purchasing activities in the Hong Kong and Pearl River Delta (HK/PRD) region.

This paper reports a case study that reviews the experience from three sourcing projects of a multinational buying office in the HK/PRD region. This company has successfully adopted purchasing social responsibility (PSR) practices for years.

The results show that the environment, ethics, health and safety, and human rights are more important than diversity, community, and financial responsibility in PSR practices in the HK/PRD region. The benefits of adopting PSR include reduced operating costs, enhanced brand image and reputation, increased sales and customer loyalty, increased productivity and quality, increased ability to attract and retain employees, and risk management. The challenges include the cost of compliance, communication with uneducated workers, conflicts among different codes of conduct and sub‐contracting.

The paper reflects the recent PSR situation in the HK/PRD region, primarily giving new insights for future research.

The paper provides empirical evidence on PSR implementation in the HK/PRD region, proposing seven core/non‐core dimensions of PSR and identifying the benefits and obstacles to its implementation. The paper provides academic and managerial guidelines for implementing PSR practices in the HK/PRD region.

This study is the first to investigate whether fintech credit influences bank performance, considering the moderating impact of bank regulations.

This study uses an aggregate dataset of 73 countries from 2013 to 2018 to examine the nexus between fintech credit, bank regulations and bank performance. For robustness tests, the authors introduce different proxies of fintech credit, perform sub-sample analysis and substitute control variables, as well as conduct their empirical strategy to tackle potential endogeneity issue.

The authors document some significant findings. First, the authors’ evidence implies that fintech credit tends to reduce bank profitability, while improving bank risk-related performance. This suggests that as fintech grows, it competes with banks and takes some share of profits, but it also benefits banks in terms of stability. Second, stricter regulations contribute positively to bank stability. Third, the authors argue that the impact of fintech credit on bank performance may depend on the degree of banking regulation, and find that fintech credit would impose a more positive influence on bank stability as more stringent banking regulation is present.

This study is the first to investigate whether fintech credit influences bank performance, considering the moderating impact of bank regulations. The findings imply that fintech credit tends to be more beneficial when bank regulations become stricter. Therefore, they bring relevant implications to the regulators, as well as bank and fintech managers with regard to the potential cooperation.

This paper aims to examine how different types of corporate political connections (PCs) affect auditor choice decisions (and, therefore, audit quality) and audit opinions following the 2013 Egyptian uprising.

This paper utilizes a unique hand-collected dataset on the type of PCs of Egyptian listed companies from 2014 to 2019. Several analyses are employed to test the hypotheses, including logit regression, probit regression and generalized linear mixed models (GLMM). A number of additional analyses are conducted to ensure the robustness of the results, including the instrumental variables (IVs) probit models and propensity score matching (PSM).

The results show that firms' choice of auditor and audit opinion is heavily influenced by firms' PCs. Companies with PCs through boards of directors and major shareholders hire Big 4 audit firms to enhance corporate legitimacy; however, government-linked companies usually retain non-Big 4 audit firms to avoid increased transparency and to conceal improper activities, including tunneling and rent-seeking. Further, the results indicate that companies with PCs through boards of directors or major shareholders are more likely to receive favorable audit opinions, whereas government-owned businesses are less likely to receive such opinions.

This study provides additional evidence to policymakers that binding regulations and guidelines are necessary to oversee politically connected firms (PCFs) and to enhance governance and investor protection.

This study provides the first empirical evidence on how corporate PCs influence the choice of auditors and the opinions of audit firms in Egypt. This paper also sheds light on the impact of different types of corporate PCs on the choice of auditors and audit opinions.

This study investigates the relationship between bank capital and liquidity creation and further examines the effect that institutional quality has on this relationship in Sub-Saharan Africa (SSA).

The data comprise 41 universal banks in nine SSA countries from 2010 to 2022. The study employs the two-step system generalized methods of moments and further uses alternative estimators such as the fixed-effect and two-stage least squares methods.

The empirical results show that bank capital has a direct positive and significant effect on liquidity creation. In addition, the positive effect of bank capital on liquidity creation is enhanced, particularly in a strong institutional environment. The results imply that nonconstraining capital regulatory policies bolster bank solvency, improve risk-absorption capacity and increase liquidity creation.

This study has several policy implications. First, it provides empirical evidence on the position of banks in SSA on the financial fragility and risk-absorption hypothesis of bank capital and liquidity creation debates. This study shows that the effect of bank capital on liquidity creation in SSA countries is positive and supports the risk-absorption hypothesis. Second, this study highlights that a country's quality institutions can complement bank capital to increase liquidity creation. In addition, this study highlights that nonconstraining capital regulatory policies will bolster bank solvency, improve risk-absorption capacity and increase liquidity creation.

The novelty of this study is that it introduces the country's quality institutional environment into bank capital and liquidity creation links for the first time in SSA.

The paper aims to examine the reality of, and, conditions for economic growth for former Soviet and Soviet Block economies with special attention to Ukraine and the Russian Federation. Many of these economies' transition from “Communism” remain plagued by problems of institutional design and outcomes characterized by high levels of corruption and low levels of accountability and transparency. The purpose of this paper is to analyze aspects of these socio‐economic realities in the context of contemporary economic theory and ongoing revisions to it.

The type of economic theory used to assess issues of transition has significant implications for public policy. Conventional economic theory has traditionally focused on secure private property rights, competitive markets, inclusive of “flexible” labor markets, as the necessary if not the sufficient conditions to successfully and quickly transition from command style to market economies. Little attention is paid to the details of institutional design. The paper applies a behavioral‐institutional analytical framework to analyze important aspects of failures and successes in transition economies using both economic and governance data sets.

The paper finds that traditional measures of economic freedom are far from sufficient to generate economic growth. Accountability and transparency in governance structures is also required. Economic failure and success are closely connected with overall performance in socio‐economic governance. Also an unnecessary emphasis on low wages, highly constrained social safety nets and labor market policy impedes successful growth and development.

Transition economies' economic performance can be significantly enhanced through improvements in institutional design that facilitates the evolution of high‐wage market economies. The market in and of itself does not suffice to generate successful transitions from command to vibrant market economies.

This paper provides an original exposé and analysis of transition economies from a behavioral‐institutionalist perspective, with important public policy implications.

The paper aims to show, through the case of Jordan, how e‐government is difficult to implement, given the characteristics of the local administration, the socio‐economic context and the dynamics of the technological infrastructure. It also aims to ascertain more generally whether the marketisation of the state, embedded in e‐government, makes sense as the paramount approach to improve democracy and foster development.

Describes how the Kingdom of Jordan, as a case study of an innovative and extensive application of e‐government ideas and models, provides a paradigmatic example of how ICTs are being introduced in economically less developed countries and identifies the risks of failure in implementation. Based on the empirical evidence provided by the case, examines the more general implications of e‐government and new public management in the transformation of the relationship between the state and citizen.

The transformation of citizens into customers is problematic, and the correlation between good governance and minimal state with development can hardly be demonstrated historically.

The paper puts forward a new interpretation centred on the newly established link between aid and security. In this light, e‐government appears to be one of the new tools for the rich metropolitan states to govern “at a distance” (through sophisticated methodologies and technologies) the potentially dangerous, weak, borderland states.