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This study examines the effects of board members’ compensation on the voluntary establishment of an internal audit function in publicly listed firms. While previous studies have identified some individual determinants related to the voluntary establishment of an internal audit function, the existing evidence on how board members’ compensation affects voluntary use of internal audit is, at best, ambiguous, scarce and incoherent.

Board compensation is a central incentive instrument in the classic principal–agent relationship between the owners and board members. The theme is empirically examined by using data compiled from Finnish publicly listed companies for the period 2015 to 2018. Since the dependent variable of the study is a binary variable, the logistic regression method was chosen as the statistical method of the study.

Our results unequivocally show that generous compensation of the board members increases the likelihood of establishing an internal audit function. Thus, we conclude that good corporate governance can be improved through generous compensation of board members.

Identifying the determinants of internal audit is vital to better understand the mechanisms that facilitate firms' improvement of internal control and risk management in terms of voluntarily adopting an internal audit function, and the implementation of good governance in general. Although numerous determinants of internal audit have been identified in previous studies, this study showed that one of the key determinants has so far been overlooked; namely, the remuneration of board members.

This paper uses test panel data for the biggest companies listed on the boards of directors of the Palestine Stock Exchange from 2016 to 2022 and will focus on the relationship between the corporate governance index, accounting conservatism, and the comprehensive index of corporate governance.

The relationship between corporate governance and accounting conservatism is experimentally investigated for its impact on the likelihood of stock price breakdown and decline among companies listed on the Palestine Stock Exchange between 2016 and 2022, using a mixed utilities approach.

The findings demonstrated the adverse correlation between corporate governance, accounting conservatism, and stock prices. Higher levels of corporate governance can effectively reduce the likelihood of future stock price increases, while conservative accounting policies can effectively prevent stock price collapses in these listed companies. Higher levels of corporate governance can greatly lessen the detrimental effect of accounting conservatism on the likelihood of future stock price breakdowns and declines. Both accounting conservatism and corporate governance have substitution effects in decreasing the danger of stock price collapse.

The limitations of the current research are that higher levels of corporate governance can significantly reduce the harmful effect of accounting conservatism on the probability of stock price breakdown and decline in the future on the study sample used, and these results cannot be generalized to all company stocks that were excluded in this study. The last research limitation is that the sample size of this study is somewhat small, and therefore the effects of the results cannot be used on all unlisted companies, and they cannot be generalized to all of these companies except only to companies listed on the Palestine Stock Exchange.

Our findings have interesting managerial and policy implications. Listed firms should first strengthen external audit oversight, improve the method of disclosing accounting information, and improve the system architecture to raise the level of accounting conservatism. Moreover, it is imperative to enhance and improve the ownership structure of publicly traded firms, construct a robust mechanism for replacing shareholders, fortify the duties of the board of directors, proficiently fulfil the role of independent directors, and develop and refine the internal and external framework for corporate governance.

This study provides insights about reducing the probability of a stock market breakdown and collapse from two sides: enhancing corporate governance, improving accounting conservatism, enhancing the reliability and integrity of disclosure, and growing the number of sustainable disclosures. These suggestions can also be used as a template for Palestine's capital market's gradual and sustainable expansion.

The paper aims at addressing the following research questions: does institutional quality improve countries' environmental efficiency? And which pillars of institutional quality improve countries' environmental efficiency?

By specifying a directional distance function in the context of stochastic frontier method where GHG emissions are considered as the bad output and the GDP is referred as the desirable one, the work computes the environmental efficiency into the appraisal of a production function for the European countries over three decades.

According to the countries' performance, the findings confirm that high and upper middle-income countries have higher environmental efficiency compared to low middle-income countries. In this environmental context, the role of institutional quality turns out to be really important in improving the environmental efficiency for high income countries.

This article attempts to analyze the role of different dimensions of institutional quality in different European countries' performance – in terms of mitigating GHGs (undesirable output) – while trying to raise their economic performance through their GDP (desirable output).

1. The paper aims at addressing the following research question: does institutional quality improve countries' environmental efficiency?

2. We adopt a directional distance function in the context of stochastic frontier method, considering 40 European economies over a 30-year time interval.

3. The findings confirm that high and upper middle-income countries have higher environmental efficiency compared to low middle-income countries.

4. The role of institutional quality turns out to be really important in improving the environmental efficiency for high income countries, while the performance decreases for the low middle-income countries.

The paper aims at addressing the following research question: does institutional quality improve countries' environmental efficiency?

We adopt a directional distance function in the context of stochastic frontier method, considering 40 European economies over a 30-year time interval.

The findings confirm that high and upper middle-income countries have higher environmental efficiency compared to low middle-income countries.

The role of institutional quality turns out to be really important in improving the environmental efficiency for high income countries, while the performance decreases for the low middle-income countries.

This paper undertakes a structured literature review to analyse the literature on performance management and measurement (PMM) in universities over the last four decades. Over that time, PMM has emerged as an influential force in universities that impacts their operations and redefines their identity.

A structured literature review approach was used to analyse a sample of articles on PMM research from a broad range of disciplines over four decades. This was undertaken to understand the impacts of PMM practices on universities, highlight changes over time and point to avenues for future research.

The analysis highlights the fact that research on PMM in universities has grown significantly over the 40 years studied. We provide an overview of published articles over four decades regarding content, themes, theories, methods and impacts. We provide an empirical basis for discussing past, present and future university PMM research. The future research avenues offer multiple provocations for scholars and policymakers, for instance, PMM implementation strategies and relationships with various government programs and external evaluation and the role of different actors, particularly academics, in shaping PMM systems.

Unlike a traditional literature review, the structured literature review method can develop insights into how the field has changed over time and highlight possible future research. The sample for this literature review differs from previous reviews in covering a broad range of disciplines, including accounting.

This paper aims to present insights on the governance of sustainability transitions in higher education in Africa. The authors interrogate the research literatures on the governance of socio-technical transitions in water, electricity, transport and waste management, and identify barriers and enabling factors that enhance transformative practices in universities.

The analytical framework proposed in this paper combines the elements of governance network theory (GNT) and transition topology. The framework of this study is grounded in an actor-centric approach using GNT to understand networks conducive to sustainability transitions. Events and governance networks were mapped on a transition topology to visualise organisational and institutional changes over time. The study engaged students, management, academic and administrative staff in building a community of practice towards sustainability. This research is based on qualitative content analysis grounded in interview data, focus group discussions, workshops, webinars and secondary data analysis.

The findings show that the university has consolidated a sustainability vision and targets, but several factors prevent the community from achieving these targets, including hierarchical decision-making processes, a multitude of disjointed committees and fragmentation in the campus community.

This research adds to an emerging body of literature in the field of sustainability in higher education with two contributions. Firstly, the study presents a novel perspective(s) on the governance of sustainability transitions by combining the literatures on governance and sustainability transitions using a new methodological approach of transition topology to show organisational and institutional changes. Secondly, the study presents new empirical evidence for improving the governance of sustainability transitions in a diverse and highly unequal African university community in the process of (de)colonisation of knowledge and governance.

Senior Indigenous leadership positions across the Australian higher education sector has increased over the past decade. Despite this advancement, there is limited understanding in terms of how to best integrate Indigenous leadership into existing governance structures of Australian universities. In 2018 the Walan Mayiny: Indigenous Leadership in Higher Education project commenced, aimed at establishing a model of best practice for the inclusivity of Indigenous leadership in higher education governance structures. This article presents key findings from the project, namely, a model of senior Indigenous leadership within the Australian universities based on the perceptions of a group of Indigenous academics.

Through qualitative semi-structured interviews with Indigenous academic staff, the perceived value, characteristics and challenges of senior Indigenous leadership were examined. The varying opinions held by Indigenous academics in relation to the qualifications and experience required to fulfil a senior Indigenous leadership position were also highlighted. In doing so, a model of senior Indigenous leadership within the Australian higher education system is presented. The model of best practice presented in this article is underpinned by Indigenous Institutional Theory (Coates et al., 2022), a theoretical framework developed from the Walan Mayiny study.

The research findings highlight the diverse opinions of Indigenous academics in relation to the qualifications and experience required to fulfil a senior Indigenous leadership position. The six essential components are built upon the core characteristics, values and behaviours that senior Indigenous leaders need to have according to Indigenous academics, in order to advance Indigenous success within the academy.

Given Australian universities are being called upon to ensure that senior Indigenous leaders are in the best position possible to forge institutional change, senior Indigenous leaders within the academy may find the contextual Indigenous leadership model beneficial. The model allows one to uphold cultural integrity and fulfil the responsibilities and obligations of their higher education institution, while being able to serve their Indigenous colleagues and communities, leading to the advancement of Indigenous higher education outcomes. Importantly, the model can be adapted to suit all First Nations Peoples globally, who also find themselves working within the shackles of Western institutions.

This study aims to investigate the impact of brain drain on government AI readiness in EU member countries, considering the distinctive governance characteristics, macroeconomic conditions and varying levels of ICT specialists.

The research employs a dynamic panel data model using the System Generalized Method of Moments (GMM) to analyze the relationship between brain drain and government AI readiness from 2018 to 2022. The study incorporates various control variables such as GDP per capita growth, government expenditure growth, employed ICT specialists and several governance indicators.

The results indicate that brain drain negatively affects government AI readiness. Additionally, the presence of ICT specialists, robust governance structures and positive macroeconomic indicators such as GDP per capita growth and government expenditure growth positively influence AI readiness.

Major limitations include the focus on a specific region of countries and the relatively short period analyzed. Future research could extend the analysis with more comprehensive datasets and consider additional variables that might influence AI readiness, such as the integration of AI with emerging quantum computing technologies and the impact of governance reforms and international collaborations on AI readiness.

The theoretical value of this study lies in providing a nuanced understanding of how brain drain impacts government AI readiness, emphasizing the critical roles of skilled human capital, effective governance and macroeconomic factors in enhancing AI capabilities, thereby filling a significant gap in the existing literature.

This research fills a significant gap in the existing literature by providing a comprehensive analysis of the interaction between brain drain and government AI readiness. It uses control variables such as ICT specialists, governance structures and macroeconomic factors within the context of the European Union. It offers novel insights for policymakers to enhance AI readiness through targeted interventions addressing brain drain and fostering a supportive environment for AI innovation.

Critical infrastructure (CI) sectors and their resilience are vital for societies to function. In many countries, vital societal functions (VSFs) and CIs depend on inter-organizational and international supply chains (SCs) which combine public and private actors with often competing interests and unclear responsibilities that create discontents. While collaborative supply chain risk management (SCRM) can increase the robustness and resilience of VSF&CIs, their inherent characteristics complicate SCRM. To understand this, supply chain risk governance (SCRG) has conceptually been introduced, suggesting collaborative mechanisms that facilitate inter-organizational SCRM. The purpose of this study is to elaborate on and substantiate the theoretical and practical relevance of an existing SCRG framework, by empirically exploring governance of collaborative SCRM and suggesting future research.

An abductive case study was performed in a VSF&CI, the Swedish food system, to contextualize top-level governance of collaborative SCRM and elaborate on the conceptual SCRG framework. Archival data supplemented expert interviews with public and private actors representing direct and indirect SC actors.

Current discourse and interventions in the Swedish food system’s SCRM confirmed discontent in governance and the importance of SCRG mechanisms and supported further conceptualization, e.g. of legal mechanisms vs economic incentives, the importance of government inquiries and the understanding of the influence of indirect public SC actors.

Considering the geographical scope of the study, transferability is limited but invites comparisons with both other countries and the SCRG of other VSF&CIs. Proposed research avenues guide future conceptualization and contextualization of SCRG.

The framework can support CI actors to jointly find and reduce discontents related to inter-organizational SCRM and support policymakers to increase public–private collaboration.

The novelty lies in empirically studying SCRG in critical infrastructures by combining SCRM and risk governance lenses.

This paper examines the effect of ESG ratings and its dimensions (environmental, social and governance) on the financial performance of JSE-listed firms included in FTSE/JSE Responsible Investment Index.

The paper employs panel data covering 40 JSE-listed firms included in FTSE/JSE Responsible Investment Index between 2015 and 2019. The paper employs the two-stage least squares (2SLS) instrumental variable regression technique to estimate the effect of ESG ratings and its dimensions (environmental, social and governance) on both accounting- and market-based performance indicators.

The results of the two-stage least squares instrumental estimation analysis reveal that investment in ESG initiatives improves both accounting- and market-based indicators of financial performance. Of the ESG pillars, the paper finds environmental initiatives improves firms' financial bottom line and market performance, while a firm's social and governance practices are observed to have no effect on a firm's accounting and market performance measures.

The insights from this study proffers policy implications for firms' management, investors and regulatory authorities.

As far as the authors are concerned, this paper presents the first empirical analysis on the contribution of ESG ratings on financial performance in South Africa.

This article focuses on regional-level cooperation in higher education by examining the functional, organizational and political approaches (FOPA) framework for higher education regionalization and using supra-national regional universities as established and successful examples of regional-level higher education cooperation among countries.

A conceptual framework is used to provide the structure for analyzing the key approaches to higher education regionalization, followed by an analysis of supra-national regional universities to demonstrate the application of the model.

The FOPA framework for higher education regionalization includes three approaches. The first is the functional approach, which includes both collaborative academic and research activities among higher education institutions as well strategies and policies to help align systems across a region. The second is the organizational approach, which focuses on networks, organizations, institutions and programs, which facilitate partnerships. The third is the political approach, which includes regional-level agreements, declarations and strategic plans to promote higher education collaboration. Key higher education activities for each approach are discussed in generic terms, with examples provided from major regions of the world.

The research was based on desk research only. No interviews were conducted.

A conceptual analysis and a model were provided for the concept of regionalization of higher education and for regional universities, which can help readers locate their interests and research in the regionalization of higher education. Examples of three different types of regional universities were provided to give concrete illustrations of a regional university.

One of the rationales driving regional universities is to address and increase a sense of regional identify and to meet the social, economic and educational needs of the specified region.

Regional universities, such as the University of West Indies, Arab Open University and the Pan-Africa University, are an understudied phenomenon. Using them as innovative and sustainable examples of higher education regional cooperation and the FOPA model, this study illustrates how single-campus, multiple-campus and virtual regional universities are functioning to meet the diversified needs and priorities across a region through cooperation among countries.