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Article
Publication date: 17 November 2023

Durgesh Pandey

This paper aims to analyse the Financial Intelligence Units (FIUs) of Canada, Australia, The Netherlands and India, focussing on key internal and external processes, such as the…

Abstract

Purpose

This paper aims to analyse the Financial Intelligence Units (FIUs) of Canada, Australia, The Netherlands and India, focussing on key internal and external processes, such as the exchange of information, operations and compliance with Financial Action Task Force (FATF) recommendations. The paper relies on secondary sources to compare and assess the practices and strategies employed by FIUs within these jurisdictions.

Design/methodology/approach

The paper relies on secondary sources to compare and assess the practices and strategies used by FIUs within these jurisdictions.

Findings

The ability to combat money laundering and the financing of terrorism (AML/CFT) in countries is influenced by several internal and external factors, including the efficiency of their FIUs’ and compliance with FATF recommendations. The analysis of FIUs across the countries demonstrates a raft of multifaceted challenges and concerns. Yet, when it comes to compliance with FATF’s recommendations, shared concerns emerge, hinting at the complex interplay between country-specific operations and global compliance standards. The paper recommends enhancements to the FIUs’ operational efficiency and overall effectiveness in combating financial crimes.

Research limitations/implications

The paper’s findings are limited to openly available data (such as annual reports and internet sources) for the respective countries. The paper relies on the transparency of FIUs through public media, focusing on comparing and analysing the FIUs of only four specific countries, which limits the generalisations of the findings.

Practical implications

This paper is significant for policymakers and FIU authorities, as they strive to improve the effectiveness of their units and assess their performance in alignment with international standards. The comparative analysis of the FIUs of India, Australia, Canada and The Netherlands provides valuable insights and recommendations that can inform policymakers and operational strategies towards enhancing how FIUs function globally.

Originality/value

This paper offers a unique comparative analysis of the FIUs of India, Australia, Canada and The Netherlands. Its findings have practical implications for policymakers and FIU authorities towards enhancing performance against international AML/CFT standards and promoting global cooperation.

Details

Journal of Money Laundering Control, vol. 27 no. 5
Type: Research Article
ISSN: 1368-5201

Keywords

Open Access
Article
Publication date: 12 June 2024

Janine Burghardt and Klaus Moeller

This study aims to investigate which configurations of organizational-level and group-level management controls support an identity fit for management accountants in the…

Abstract

Purpose

This study aims to investigate which configurations of organizational-level and group-level management controls support an identity fit for management accountants in the management accounting profession. It aims to complement recent qualitative management accounting research. This stream just begun to use role and identity theory to investigate role expectations, conflicts and coping strategies of management accountants when they struggle with their work identity.

Design/methodology/approach

Based on configuration theory, this study uses a fuzzy-set qualitative comparative analysis to indicate all possible configurations of formal and informal management controls that improve management accountants’ sense of their identity in an organization. The analyses are based on the results of a cross-sectional survey of 277 management accountants from Germany, Austria, Switzerland and Liechtenstein.

Findings

The results show that a strong group culture and high psychological safety at the group level are relevant conditions for a high identity fit. Further, the configurations differ regarding the career stages of management accountants.

Originality/value

This study contributes to work identity research of management accountants and to research on formal and informal control configurations as a control package. It is of particular importance for various professions that are affected by role change, as from the findings on management accountants’ identity fit, implications can also be made for other organizational functions that need to engage in identity work.

Details

Journal of Accounting & Organizational Change, vol. 20 no. 6
Type: Research Article
ISSN: 1832-5912

Keywords

Article
Publication date: 17 September 2024

Elisa Menicucci and Guido Paolucci

The purpose of this paper is to investigate the relationship between board gender equality and environmental, social and governance (ESG) performance in the European banking…

Abstract

Purpose

The purpose of this paper is to investigate the relationship between board gender equality and environmental, social and governance (ESG) performance in the European banking sector. The study examines whether and how the presence of women on the board of directors (BoD) influences ESG dimensions.

Design/methodology/approach

The authors analyzed a sample of 72 European Union banks for the period 2015–2021 and developed an econometric model applying unbalanced panel data regression with firm fixed effects and controls per year. To test the research hypotheses, the authors considered gender equality in terms of female participation on the BoD and measured ESG dimensions by using the ESG score provided by Refinitiv.

Findings

The findings suggest a significant positive relationship between the number of women on BoD and the ESG performance of European banks only up to a certain threshold of female directors (at least three women). The study also explores how the proportion of women on BoD influences the individual ESG pillars. The results show that the percentage of female directors has a positive and statistically significant impact on the social dimension of the ESG framework.

Research limitations/implications

The investigation is highly relevant to investors considering ESG issues in their decision-making process. The overall findings support policymakers and regulators on how to improve ESG performance through the design and the application of corporate governance (CG) mechanisms. From a managerial perspective, the study suggests that managers and CEOs should focus their efforts on establishing the right gender combination of directors on bank BoDs.

Originality/value

This paper offers an in-depth examination of the CG practices of banks, and it attempts to bridge the gap in prior literature on the determinants of ESG issues in the European banking industry. To the best of the authors’ knowledge, this study is the first that investigates the relationship between the representation of women on BoDs and the ESG dimensions measured by the Refinitiv Eikon score. The use of critical mass theory adds a fresh perspective to the literature on ESG in Europe since the influence of board gender diversity on ESG performance of the European banks is still unaccounted for. This study addresses this pressing research issue drawing on resource dependence, agency and legitimacy theories.

Details

Corporate Governance: The International Journal of Business in Society, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1472-0701

Keywords

Book part
Publication date: 12 September 2024

Rubee Singh, Akash Gupta, Arushi Bajpai and Vinay Kandpal

This chapter critically discusses the literature on the subject of circular economy. It defines the circular economy at the outset and advocates its adoption in smart cities. It…

Abstract

This chapter critically discusses the literature on the subject of circular economy. It defines the circular economy at the outset and advocates its adoption in smart cities. It briefly explains the multiple phases of industrial revolution and the slow and gradual shift from a linear economy which is based on make-use-dispose model to a circular economy which relies on reusing and recycling the products produced in the production cycle. It then critically examines the legal challenges that can be associated with such a system. It draws on the lessons learnt from cities such as Amsterdam which has successfully implemented the system of circular economy. This chapter also delves into the Columbian waste management system to understand the market functioning in the waste management sector which is handled by private enterprises in the country. Moreover, the public–private partnership model in the Chinese city Suzhou is explored, and exciting methods of using this model were found.

Details

Smart Cities and Circular Economy
Type: Book
ISBN: 978-1-83797-958-5

Keywords

Article
Publication date: 18 September 2024

Marcos Antonio de Araujo Ventura and Dimária Silva e Meirelles

This study examines the use of a dynamic value-based approach to analyze the business model structuration of smart service providers in Brazil, mapping their value creation…

Abstract

Purpose

This study examines the use of a dynamic value-based approach to analyze the business model structuration of smart service providers in Brazil, mapping their value creation, configuration and appropriation strategies, and determining how well-defined their current business models are.

Design/methodology/approach

This is a qualitative study based on semi-structured interviews with entrepreneurs (or CEOs and directors of technology) of seven business ventures in three different phases of business model structuration: (1) academic: companies or innovation and research centers linked to universities; (2) startups: technology-based companies originating from the technological needs of clients, be they new branches of the traditional business of incumbents or new entrants and (3) autonomous service providers whose offerings are related to master’s or doctoral projects.

Findings

We propose a typology of business model structuration with four stages. At first (individual or initial business model), albeit with high skilling of owners, only manual or adaptation services are offered. In the second stage (platform business model), although services offered are oriented toward the entire process automatization of the client (Factory integrated), technologies are restricted to the client company (or even one department) and these clients' needs are mainly data processing and connectivity. In the third stage (scaling digital business model), although the services offered are oriented toward greater digitalization through an entire array of field devices connected to the internet (IoT) and organized in a more formalized structure, the business model is still being constructed, companies in this stage are mainly startups. In the fourth stage (innovation ecosystem business model), the entire manufacturing process is digitized, with integration and network connectivity, both between service providers and the extended supply chain of their clients, and new technologies are customized and developed through the interaction of a whole innovation ecosystem.

Research limitations/implications

Mapping value-based strategies aids in understanding business model structuration in Industry 4.0. Future research should focus on parameterizing the dimensions founded of each value strategy.

Originality/value

This study advances the comprehension of the business model in |Industry 4.0 by providing a value-based strategy perspective of business model structuration. Practically, by focusing on smart service providers, it contributes to a greater understanding of smart service providers in Brazil and their strategic challenges.

Details

Journal of Manufacturing Technology Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1741-038X

Keywords

Article
Publication date: 12 September 2024

Nopadol Rompho, Sukrit Vinayavekhin, Chonlada Sajjanit and Kimitaka Asatani

This study aims to identify key research clusters (or sub-fields) in the field of performance measurement research, analyse its historical development and propose future research…

Abstract

Purpose

This study aims to identify key research clusters (or sub-fields) in the field of performance measurement research, analyse its historical development and propose future research avenues.

Design/methodology/approach

Several bibliometric analysis methods, including co-citation analysis and text mining techniques, were used to review papers published on performance measurement research.

Findings

This study reveals eight main clusters of research in this field, ranging from theoretical-focused clusters (e.g. strategic performance measurement) to practical-focused clusters (e.g. design of performance measurement). These clusters are further categorised into four groups based on the size and degree of connectedness. Regarding the analysis of historical development, the established clusters, such as supply chain management, remain important, while newer clusters, such as hospitality and humanitarianism, have recently gained increasing interest.

Originality/value

This study applies citation-based clustering, a type of bibliometric literature review method that has been underused in the field of performance measurement. Moreover, the results obtained from this study are also distinct from those of previous studies, offering valuable insights especially for researchers. With a comprehensive understanding of the field, researchers can use it to understand the key literature, observe ongoing developments within their specialisation and inform their future research directions.

Details

Measuring Business Excellence, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1368-3047

Keywords

Article
Publication date: 3 September 2024

Geoff Ryan, Robert J. Emmerling, Lee Fergusson and Shayne Baker

This research investigates the types of critical business situations worked on by multinational corporations' senior managers and the competencies they employ to achieve desired…

Abstract

Purpose

This research investigates the types of critical business situations worked on by multinational corporations' senior managers and the competencies they employ to achieve desired outcomes.

Design/methodology/approach

The research is based on a database of N = 440 critical success incidents obtained from semi-structured interviews with a sample of 143 senior managers during competency-based consulting projects over a 25-year period from 1995 to 2019. Content analysis was used to categorise critical success incidents, by similarity of business intent, into groups labelled as critical business situations. Behavioural coding was used to identify competencies.

Findings

Nine critical business situations were found, and 10 competencies identified, accounting for 79% of behaviours displayed by the senior managers. Five competencies were found to be used more universally and five were more dependent on the specific critical business situation.

Research limitations/implications

This research provides an overview of the initial stage of this topic. Further empirical validation including applicability in contemporary business contexts, testing of competency relationships with critical business situation criterion-referenced outcomes, and temporal and geographic usage will be presented in an accompanying study.

Practical implications

Knowledge of the specific competencies and their relative frequencies when displayed in different critical business situations provide the potential to give more targeted development suggestions to senior managers facing similar situations.

Originality/value

This study examines concurrently, both the business situations and associated competencies of senior managers, a group for whom extant research is significantly limited.

Details

Journal of Management Development, vol. 43 no. 5
Type: Research Article
ISSN: 0262-1711

Keywords

Article
Publication date: 28 November 2023

Tomasz Michał Matras

The implementation of the Directive 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of…

Abstract

Purpose

The implementation of the Directive 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing resulted in the enactment by the Polish Parliament of the Act of March 1, 2018, on the prevention of money laundering and terrorist financing. One of the most important issues identified in the Act was the establishment of the Central Register of Beneficial Owners. The purpose of this paper is to critically analyze the functioning of the Register in Poland from the perspective of three years since its establishment. The text presents the most important problems faced by reporting institutions and obliged entities due to discrepancies in the interpretation of the Act’s provisions – especially in terms of the definition of a beneficial owner.

Design/methodology/approach

The basic research approach was a comparative content analysis method. The objects of analysis included Polish Laws, Directive of the European Parliament and the Council (EU) 2015/849 and the judgment of the Court of Justice of the European Union. The theoretical legislative assumptions contained in the Acts were compared with reports, studies and communications prepared by public and private institutions. This made it possible to draw conclusions regarding the causes of problems with the functioning of the Register in Poland.

Findings

The results of the research showed that the ambiguity of the definition of the beneficial owner leads to a number of problems on the part of reporting institutions, such as companies, foundations and associations. On the other hand, a large part of the data entered in the Register is questioned by obliged entities. The lack of personal data protection is also a problem. Consequently, this reduces the value of the Register as a tool that effectively mitigates the risk of money laundering.

Research limitations/implications

The research focused only on the functioning of the Central Register of Beneficial Owners in Poland. The subject of the analysis addressed problems with the definition of beneficial owner, issues of data quality and openness and the process of verifying the Register’s data. The technical aspects of the Register operation and the financial penalties imposed by public oversight institutions were not reviewed. Also, no comparison was made with other European Union (EU) member states that have implemented Directive of the European Parliament and of the Council (EU) 2015/849.

Originality/value

This study discusses the important issue of regulatory requirements introduced under EU regulations for private companies. Familiarization of companies, NGOs and obliged entities with the conclusions of the study can positively influence the consolidation of the correct interpretative path. In addition, to the best of the author’s knowledge, this is the first scientific text that identifies and systematizes the most important problems of the Register’s functioning in Poland.

Open Access
Article
Publication date: 17 July 2024

Yee Peng Chow

The purpose of this paper is to examine whether and how chair-chief executive officer (CEO) generational difference is related to debt financing.

Abstract

Purpose

The purpose of this paper is to examine whether and how chair-chief executive officer (CEO) generational difference is related to debt financing.

Design/methodology/approach

This paper adopts the pooled ordinary least squares and system generalized method of moments estimation procedures to analyze listed firms in Malaysia from 2013 to 2017.

Findings

The results reveal that chair-CEO generational difference is negatively associated with leverage. The evidence suggests that substantial age gaps between the chair and CEO precipitate cognitive conflicts, which lead to better monitoring and control. This results in better governance and less information asymmetry, causing firms to depend less on debt as a board monitoring mechanism. The findings provide support to the theory posited in this paper on the substitutability of chair-CEO generational difference and debt financing.

Originality/value

This is the first attempt to investigate the substitutability of chair-CEO generational difference and debt financing.

Details

Asian Journal of Accounting Research, vol. 9 no. 4
Type: Research Article
ISSN: 2459-9700

Keywords

Article
Publication date: 20 October 2023

Mustafa Faza', Nemer Badwan and Montaser Hamdan

This study aims to conduct a review and analysis of the literature on Shariah audit compliance by examining the difference between internal and external auditors, the scope of…

Abstract

Purpose

This study aims to conduct a review and analysis of the literature on Shariah audit compliance by examining the difference between internal and external auditors, the scope of internal Shariah audits and the qualification of Shariah auditors.

Design/methodology/approach

The current study used content analysis and the descriptive approach to achieve the main objective of the study. To ensure that Islamic Financial Institutions’ (IFIs) practices preserve Shariah principles and values when providing Shariah-compliant products and services, this audit will be used to supervise and monitor the operations of IFIs. The main goal of Shariah compliance auditing is to protect the interests of IFIs stakeholders, including account holders, shareholders, creditors, management and employees, as well as the general public while ensuring that the mechanisms of checks and balances in place are appropriate and tailored to the goals and missions of its establishment following the Maqasid Al-Shariah.

Findings

The findings of this study attempt to contribute to the body of knowledge surrounding Shariah audit compliance by advising IFIs on the value of Shariah compliance auditing in addressing the needs of its stakeholders. As a result, the benefits of Shariah compliance audits will be maximized, and future legislative changes will be implemented to reduce or completely remove the risk of Shariah’s failure to comply.

Practical implications

This research advises IFIs on the usefulness of Shariah compliance auditing in addressing the demands of its stakeholders to add to the body of knowledge on Shariah audit compliance. Moreover, all parties involved to take action to reduce the gap that will significantly affect stakeholders’ confidence, particularly concerning the Shariah compliance of the IFIs’ products and services on their operations and activities.

Originality/value

The advantages of Shariah compliance audits will thus be maximized, and future regulatory improvements will be made to lessen or eliminate the danger of Shariah noncompliance.

Details

Journal of Money Laundering Control, vol. 27 no. 5
Type: Research Article
ISSN: 1368-5201

Keywords

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