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This study aims to provide insights into gender diversity in Pakistani boardrooms, particularly for the dominant family business type, which is strongly guided by (non-financial) family-related objectives when making business decisions, such as the appointment of board members. Pakistani companies operate within the framework of weak legal institutions and a traditionally highly patriarchal environment. This study examines how corporate decisions regarding the appointment of female board members play out in this socio-political and cultural environment.

Board composition and board characteristics were examined using hand-collected data from 213 listed family firms and non-family firms on the Pakistan Stock Exchange from 2003 to 2017. Univariate analyses, probit regressions and robustness tests were performed.

Pakistani family firms have a significantly higher proportion of women on their boards than do non-family firms. They are also significantly more likely to appoint women to top positions, such as CEO or chairs.

Evidently, women are allowed to enter boards through family affiliations. Gender quotas appear an ineffective instrument for breaking through the “glass ceiling” in this socio-cultural environment. Thus, gender parity must entail the comprehensive promotion of women and the enforcement of legal reforms for structural and cultural change.

The analysis focuses on a Muslim-majority emerging Asian market that has been scarcely researched, thus offering new perspectives and insights into board composition and corporate governance that go beyond the well-studied Western countries.

This study provides a systematic review on performance measurement of supply chains from a financial perspective.

This study systematically reviews the financial performance measures of supply chains. More specifically, this research reviews a total of 100 papers published in more than 50 peer-reviewed journals. The reviewed papers are categorized into three major areas of engineering, business and management. Additionally, the papers are investigated based on country, journal frequency, applied methods, publication date and research type (application or developmental).

According to the obtained results, cost, return on assets (ROA), sales, asset turnover, return on investment (ROI), market share, inventory turnover, profit margin, revenue growth, economic value added (EVA) and cash-to-cash cycle are the most common metrics of financial performance measurement. Next, a framework is developed based on different categories of performance measurement and decision levels of the supply chain. Finally, some research directions are suggested to be further investigated by other scholars.

Although available studies on supply chain performance measurement are very vast and comprehensive, the majority of the studies have neglected to highlight the importance of financial measures. In other words, with the advent of nonfinancial measures, however, the majority of supply chain managers still prefer to consider financial issues in their performance assessment process.

The purpose of this paper s to study the financing behavior of family firms (FF), as these differ from their small- and medium-sized enterprise (SME) counterparts in their capital structure decision, mainly due to an increased risk aversion and the desire to maintain control over the firm.

A sample of 470 SMEs from a bank-based environment is examined for the period of 2005-2010. A dynamic panel data model is utilized to assess both the role of several capital structure determinants and the target-adjusting behavior for different subsamples of firms.

The results show that FF, whether controlled by founders or not, are relatively more leveraged. The aim to maintain long-term control and limited financing options and other factors seem crucial to the observed differences in leverage and dominate risk considerations associated with higher debt. Presumed differences in agency costs across generations do not drive capital structure decisions, as overall leverage does not differ between founder- and descendant-controlled family firms (FCFF and DCFF, respectively). Firms with a founder-chief executive officer (CEO), however, adjust faster to deviations from a target debt ratio. The effects of many proposed capital structure determinants differ across firm types, but are highly consistent with predictions from the pecking order theory.

Based on the results of this study, we suggest policy-makers in bank-based economies like Austria to strongly focus on mechanisms that facilitate the access to bank debt to ensure adequate allocation of finances to SMEs. This is especially important to stimulate growth and further innovation for the dominant group of FF, as they rely on debt the most to maintain family control.

This paper makes a novel contribution to the literature, as it combines an analysis of the capital structure of non-listed family firms (NFF) in a bank-based economy, the respective role of founder management, the dynamic adjustment to a presumed debt target and joint tests of capital structure theories.

ARNOLD BENNETT was a man of two worlds. In the terms of Max Beerbohm's cartoon “Old Self” was plump, wealthy, self‐assured, a landmark of the London scene, a familiar of press magnates, the owner of a yacht; “Young Self” was thin, ambitious, far‐sighted, industrious, secretly terribly anxious to justify himself to himself and decidedly provincial.

To develop a more effective, long‐term‐oriented capital asset management process for capital project evaluation

Relying on a cash study format, the weaknesses of the traditional capital budgeting process are examined. The proposed capital asset management process is contrasted with the traditional process with respect to several aspects of long‐term resource management. Flow‐charts and evaluation matrices are presented.

The capital asset management process offers significant improvements over the traditional process. First, it links various functions that trigger capital requirements. Through an actual versus plan measurement, capital plans become more accurate and predictable. Forecasting beyond one year also enhances the planning and management of resources. Second, the process promotes a more accurate evaluation of costs and benefits of capital projects. The suggested evaluation techniques include detailed qualitative analysis, real option and EVA analyses, and applying project/division costs of capital in place of a company cost of capital.

The capital asset management process provides guidelines to justify and manage capital expenditures in a systematic manner for divisions and product lines within a company. For an effective application, the process should be established across all corporate levels so that top management and project managers have a clear understanding of the process and its importance with respect to a capital proposal's linkage to long‐term strategic goals.

This study provides a comprehensive overview of the traditional capital budgeting process based on an actual company case and presents key drives and evaluation techniques in the capital asset management process to effectively manage firms' long‐term capital assets.

The purpose of this article is to synthesize the topics, conceptualizations and measurements of value-based management (VBM) and to suggest a research agenda covering its next evolution as sustainable governance.

The authors conducted a systematic literature review of 80 seminal studies published between 1979 and 2022. The authors synthesized the studies by their conceptualizations of VBM in an inductively developed framework.

The authors find that scholars explore diverse topics related to VBM with a prevailing focus on shareholder primacy. There is a paucity of studies that focus on the integration of shareholder maximization and stakeholder management practices. The authors explain which studies will form a promising foundation for advanced research on sustainable governance that will reach beyond current VBM research.

The authors' research agenda addresses new future topics on conflicting goals within and between shareholder groups, offers specific suggestions for using new research methods and untapped data sources for VBM and paves the way to substantially extend the boundaries of the firm in VBM research to include stakeholders, strategic alignment and new sustainability measures.

This paper attempts to examine the nature of the relationship between employee stock ownership (ESO) and value creation in the context of shareholder governance.

The research sample includes 129 French CAC All-Tradable index companies observed from 2015 to 2019. The system generalised moment (GMM) estimator (Blundell and Bond, 1998) is used in the dynamic panel.

The results estimated from the system GMM model show a threshold effect in the ESO–value creation relationship. For an employee shareholding ratio less than 3%, ESO has a positive impact on value creation; above this level, the impact becomes negative. Furthermore, the nature of the relationship largely depends on the form of employee shareholding.

These results are with strong economic implications. The risk of CEO entrenchment increases with the rise in share parts owned by employees. Companies with high shareholder value creation are companies with low employee ownership.

The main contribution in this study is that the form of ESO was considered in our analysis, which was not done in previous research. Another contribution is the use of recent data (2015–2019), which takes into account the large-scale development of French ESO practices, especially the absence of crises that may bias the results.

This paper attempts to examine the impact of merger on the stock returns and economic value added (EVA) of acquiring firms to know if the mergers are successful corporate restructuring strategies for the firms.

In total, 108 Indian firms are studied using paired sample t-test and Wilcoxon signed rank test for comparing the EVA of acquiring firms in short, medium and long term after merger. The effect of merger announcements on stock returns is analyzed by way of event study. An event window of −20 to +20 is taken and an estimation window of 256 (-276 -20) days is used in the study.

The authors find that mergers lead to significant improvement in the EVA of acquiring firms. However, the increase in financial performance and EVA is witnessed only in long term. The authors did not find any significant impact of merger announcement on the stock returns of acquiring firms.

The study is a first of study's kind, which evaluates both short-term (using event study methodology) and long-term (using EVA) impact of value addition to an acquirer after Merger & Acquisition (M&A). The study contributes to existing literature on the signaling theory of announcement of M&As and synergy gain theory of completed M&As by providing evidence from the context of an emerging market like India.

An exploratory, qualitative multiple case study approach was used to investigate perceptions of leadership through the voice of young (ages 18-24) citizens of St. Lucia, West Indies.Specifically, investigators were interested in better understanding the young peoples’ leadership beliefs, experiences, and people of influence. Participants perceived leadership to be about helping other people, communication, teamwork, and morality.The most valuable leader development experiences were experiences that the young people perceived were connected to leadership.Participants viewed familiar adults, rather than famous foreigners or youth peers asthemostimportantpeopletoaidinyouthleaderdevelopment.

Over several years, there have been intensive discussions about the importance of knowledge management (KM) within the business community. Effectively implementing a sound KM strategy and becoming a knowledge‐based company is seen as a mandatory condition of success for organizations as they enter the era of the knowledge economy. However, standardized metrics are needed to quantify knowledge and to fully convince management and stakeholders as to the value of KM initiatives. Development of KM metrics has begun in recent years and these metrics are being applied by some organizations, but more research is needed to better define these measures and to make them universal. The purpose of this research is to survey and report the current measures of knowledge assets or intellectual capital, as well as the methods that are popularly being followed by organizations to measure the performance of KM strategies. The research findings should: assist organizations in identifying the measures that are appropriate and suitable for them, for improving the quality of metrics they use for measuring KM effectiveness; and assist researchers in identifying future research needs toward the standardization of KM measurement metrics.