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Remuneration policies may differ from country to country, and their effect on bank stability could be due to the legal framework. Therefore, this study aims to investigate how the legal system impacts the relationship between CEO compensation and bank stability across countries.

To test the study hypotheses, the authors use panel data of 74 banks operating in ten OECD countries during the period 2009–2016 and apply the generalized moments method regression model to better remediate the endogeneity problem.

The findings confirm that a country’s banking regulations significantly affect its bank stability. Common law countries have less bank stability than civil law countries. This result can be interpreted by the fact that, in common-law countries, banks’ CEO are strongly protected by the law, so they allocate a large part of bank assets to risky loans to improve their variable remuneration.

The research can help policymakers understand bank stability in one country. Any legal reform would require prior knowledge of how risk-taking may arise in executive compensation.

The contribution is to explain the controversial effect of executive compensation on bank stability in the framework of legal theory. The authors argue that regulators should monitor compensation structures and that the country’s legal origin of law shapes the CEO compensation structure and is a determinant of bank stability. To the best of the authors’ knowledge, there are no studies exploring this field. So, this study tries to shed more light on the dark side of CEOs’ behavior when undertaking risky projects to maximize their remuneration.

The purpose of this research is to reveal the impact of public legal protection on the efficiency of internal corporate governance in banks. In addition, this research proposes a new corporate governance index that could be employed by the banking sector to evaluate the performance of their internal corporate governance mechanisms.

Orbis database, annual reports and direct questionnaire are used to collect corporate governance data of 127 banks from 14 countries during 2020. The Mann–Whitney U-test is employed to compare the efficiency of corporate governance mechanisms based on three subsamples of countries having different legal protection levels (weak, middle and strong).

This research suggests a new corporate governance index for banks based on seven constructs and 62 variables. This new non-parametric index could be used by bankers to improve the monitoring process and enhance the overall performance of banking. The results of this research show that the existence of a strong public legal protection environment within a specific country enhances the efficiency of corporate governance mechanisms in the banking sector and thus, leads to improve the protection of shareholders, depositors and other relevant stakeholders. However, in countries that are characterized by weak legal protection level, the efficiency of corporate governance mechanisms is very low and there are possibilities of entrenchment, expropriation and extraction of private benefits. These findings could be interpreted within the prediction of agency, moral hazard, asymmetric information, political and entrenchment theories.

This research paper provides information that bankers and other relevant stakeholders in the banking sector working in MENA (the Middle East and North Africa) and European countries. A strong public legal protection level could improve the efficiency of internal corporate governance mechanisms within banks.

The purpose of this study was to investigate whether indicating victims of sexual attacks actively resisted their attacker or froze during their assault affected perceptions of victim blame, perpetrator blame and seriousness of the crime. We also tested whether victim and perpetrator gender or participants’ rape myth endorsement moderated the outcomes.

This study was a cross-sectional, vignette survey study with a 2 × 2 between-participants experimental design. Participants read a mock police report describing an alleged rape with a female or male victim who either resisted or froze, while perpetrator gender was adjusted heteronormatively.

Freezing and male victims were blamed more than resisting and female victims. Perpetrators were blamed more when the victim resisted, but male and female perpetrators were blamed equally. Seriousness of the crime was higher for male perpetrators and when the victim resisted. Female, but not male, rape myth acceptance moderated the relationship between victim behaviour and outcome variables.

This study highlights the influence of expectations about victim behaviour on perceptions of rape victims and the pervasive influence of rape myths when evaluating female rape victims. The data is drawn from the German border region of the Netherlands, which is an especially valuable population given the evolving legal definitions of rape in both countries.

Driven by the anticipated global stagflation, this straightforward yet novel study examines the cost of inflation as a macroeconomic factor by investigating its influence on stock market growth. Thus, this paper aims to examine the impact of inflation on the probability of initial public offering (IPO) withdrawal decision.

The paper employs a large dataset that covers the period January 1995–December 2019 and comprises 33,536 successful or withdrawn IPOs from 22 nations with various legal and cultural systems. This study applies a probit model utilizing version 15 of Stata statistical software.

This study finds that inflation is substantially and positively correlated with the likelihood of IPO withdrawal. Results of this study show that the IPO withdrawal decision increases up to 90% when the inflation rate climbs by 10%. Multiple robustness tests provide consistent findings.

This study's implications are important for researchers, investment banks, underwriters, issuers, regulators and stock exchanges. When processing IPO proposals, investment banks, underwriters and issuers must consider inflation projections to avoid negative effects, as demonstrated by the findings. In addition, regulators and stock exchanges must be aware of the detrimental impact of inflation on competitiveness in attracting new listings.

To the best of the authors’ knowledge, this study is the first to present convincing evidence of a major relationship between IPO withdrawal decision and inflation.

This study aims to analyze the effect the liberalization of industrial relations in Germany has had on trade unions’ influence on companies’ decisions. Particular attention is given to European measures of flexibilizing company law and how they affect industrial relations in Germany.

After presenting a theoretical basis regarding industrial relations and corporate governance, the paper then demonstrates, via a case study, the effects of the flexible European company law. It examines the strategic avoidance of trade union activity at SAP, a case that ended up before the European Court of Justice.

The flexibility of European company law allows companies to limit the influence of trade unions on company decisions. Limiting trade unions' internal participation weakens their position overall. Precautionary measures to protect employees’ rights help to reduce the dangers of this process.

The influence of European law brings a new perspective to the transformation of the German industrial relations model. The analysis of the strategy of using the legal type of the European company (Societas Europaea) to limit the internal activity of trade unions demonstrates the connection between institutional settings and corporate governance.

This study aims to provide the main contents of the revision of the 2023 OECD Guidelines for Multinational Enterprises and suggest implications for the Korean government and multinational enterprises.

Following the brief history of the revision of OECD Guidelines for Multinational Enterprises, this study reviews and evaluates major substantive and procedural revisions of the 2023 OECD Guidelines, and then suggests countermeasures for Korean government and businesses.

The most significant substantive change of the 2023 revision is that expectations for environmental due diligence and disclosure obligations, including climate change and biodiversity, for multinational enterprises have been expanded and strengthened. Regarding procedural changes, the biggest change is the introduction of a basis rule for the National Contact Points for Responsible Business Conduct (NCPs for RBC) to judge each issue and a rule that the final statement must include follow-up details and deadlines, which is expected to strengthen the effectiveness of the NCP dispute resolution mechanism.

This study is the first academic paper to introduce major substantive and procedural revisions to the 2023 OECD Guidelines for Multinational Enterprises in Korea. This study also provides implications for the Korean government and companies following the 2023 revised OECD Guidelines for Multinational Enterprises as follows. First, the Korean government must establish a public–private partnership to closely communicate to prevent Korean companies from being harmed by failing to meet strengthening international Environment, Social and Governance (ESG) standards. In addition, Korean government should actively participate in ESG-related international forums, including the OECD, and strive to reflect the needs and interests of Korean companies. Second, the Korean NCP should strengthen its activities to prevent potential damage by expanding education and promotions for Korean businesses on related overseas legislative trends and NCP dispute case studies so that Korean companies can effectively deal with the strengthened ESG standards. Third, Korean multinational enterprises should preemptively establish an advanced ESG management system to seize new opportunities in the global supply chain previously concentrated in China and India in the process of reorganizing global supply chains according to the trend of strengthening ESG standards and the US value alliance strategy.

The purpose of this paper is to illustrate how the Wirecard scandal has highlighted the need for further reforms in Germany and Europe, exposing institutional and market oversight weaknesses, particularly in terms of market integrity and investor protection.

To provide a comprehensive picture of the situation, this paper is based only on relevant studies, which focus on the topic of interest, namely, the context of the Wirecard collapse in June 2020. It also examines how internal and external governance and monitoring mechanisms failed to uncover major fraud within the German payments group earlier.

This study shows that this is by no means an isolated or unpredictable incident, and the allegations of accounting fraud had been known for several years, thanks to warnings from the Financial Times. In addition, the paper reviews the serious shortcomings revealed in the Wambach report. The report provided private details of the Wirecard audit and documents on the relationship between Wirecard management and the auditor. All of this can serve as a reference point for institutional and market oversight architecture in Germany and Europe and pave the way for future research.

The paper contributes to the literature by highlighting the implications of the Wirecard scandal and the lessons that can be learned from what was one of Germany’s biggest corporate scandals especially at a time when many are already affected by the impact of COVID-19 on the entire financial services industry.

This study aims to analyze the development of digital market characteristics particularly focusing on how the strategic choices of platforms are not fully reflected in pricing. In addition, the implications for the development of theories of harm are investigated to explore the necessity of a relevant market definition in assessing infringement and evaluating the adequacy of Indonesian competition law.

This study is a legal analysis that uses statutory approaches, cases, comparative law and the development of theories of harm in digital mergers. The case approach is conducted by analyzing three cases decided by the Indonesia Business Competition Supervisory Commission. This approach provides insight into the response of Komisi Pengawas Persaingan Usaha concerning the merger and acquisition cases in the digital era as well as the provision of different analyses in conventional markets. However, competition can be potentially damaged in digital markets and a comparative law approach is taken by analyzing digital merger cases decided by authorities in other countries.

Results reveal that the digital market has created a “relevant market” that is challenging and blurred due to multi-sided network effects and consumer data usage characteristics. Platform-based enterprises’ prices fluctuate due to the digital market’s network effect and consumer data statistics. Smartphone prices depend on the number of apps and consumer data. Neoclassical theory focusing on product markets and location applied in Indonesia must be revised to establish a relevant digital economy market. To evaluate digital mergers, new harm theories are needed. The merger should also protect consumer data. Law Number 27 of 2022 on Personal Data Protection and Government Regulation on the Implementation of Electronic Systems and Transactions protects online consumers, a basic step in due diligence for digital mergers. The Indonesian Government should promptly strengthen the notion of “relevant markets” in the digital economy, which could lead to fair business competition violations like big data control. Notify partners or digital merger participants of the accessibility of sensitive data like transaction history and user location.

The development of digital market characteristics has implications for developing theories of harm in digital markets. Indonesian competition law needs to develop such theories of harm to analyze the potential for anticompetitive digital mergers in the digital economy era.

Starting from the status quo, the paper outlines perspectives and challenges for the connection and interlinking of digitised and digital archival data. The following topics are addressed: Where are fields of action and what are the means of archives? Which functional and technical requirements are to be considered, and what is the role of portal infrastructures linking together various different institutions?

Considering needs of users and general framework conditions, the paper examines new approaches emerging in Germany. It outlines recent projects and considerations aiming to improve services and visibility of archives within the national data infrastructure in Germany.

Cross-connections are no new phenomenon, but change their appearance significantly in a digital context. In this respect, both smaller and bigger archives profit from participation in larger digital networks. Furthermore, archives need to keep in mind to reflect the quality of their digital (meta)data regularly and to offer or join systems that functionally and technically support cross-connection and interlinking of data.

The paper endeavours to show the importance of digital cross-connections and the role of portal infrastructures for visibility, online-distribution and use of digital archival metadata and data.

This paper aims to examine the effect of contractual factors and noncontractual factors on tax avoidance (TA).

The sample comprises 400 firm-year observations of 67 companies listed on the HDAX during the period 2008–2017. The generalized least square panel regression is applied.

The study results confirm a significant effect of long-term chief executive officer (CEO) compensation incentives and CEO attributes on TA. Findings exhibit a significant impact of foreign CEO on TA, whereas an insider CEO mitigates TA. The results hold for several robustness tests, with lag effective tax rate as dependent variable and with splitting foreign CEO into European and non-European origin.

First, the sample is limited to 400 firm-year observations and to the German context. For shareholders, the study provides first evidence on relationships between the geographical and internal versus external labor market for CEOs and TA. For researchers, the findings underline the importance of integrating behavioral approaches like place attachment theory and the rooting theory in the theory of TA.

To the best of the authors’ knowledge, this is the first study to examine the impact of both contractual determinants and behavioral determinants on TA in the German context as an emerged economy with a dualistic corporate governance. This study contributes to the existing literature regarding the scientific debates about the impact of CEOs and CEO attributes on TA. It also analyses the balance between the place attachment theory and the rooting theory in the face of the compensation outcomes of agency theory.