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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 paper is to examine the importance of channel partners’ government relations within channel performance and explore how institutional factors interact to influence channel performance. A theoretical framework, inclusive of hypotheses, is proposed to demonstrate the interaction of government relations and institutional environments on firm performance. Drawing on an institutional perspective, this paper suggests that the effect of partner’s government relations on firm performance is moderated by institutional environment factors, such as government interference, legal protection, and the importance of guanxi.

This study conducted a questionnaire survey and collected data from 393 Chinese manufacturer managers in China.

Partner’s government relations increase focal firm’s performance and this effect is moderated by different levels of legal protection. Partner’s government relations increase firm performance only in the context of high-legal protection; whereas, when legal protection is low, partner’s government relations decrease focal firm performance. As for the interaction of institutional factors, legal protection and importance of guanxi, all three moderate the negative effect of government interference on firm performance.

This paper provides insights on how channel partner’s government relations, representing a key institutional capital, interact with institutional environment factors to influence channel performance.

The purpose of this paper is to study the capital structure of firms when controlling shareholders decide on the level of debt financing in an environment with poor legal protection.

Theoretically this paper uses a dynamic model to analyze how the controlling shareholder expropriates the firm's benefit through debt financing. Empirically this paper uses a sample of Chinese publicly listed firms from 2004 to 2007, through the method of OLS and panel data, to verify the theoretical predictions.

Theoretically this paper finds that firms with controlling shareholders will take excess debt financing in an environment of controlled interest rate and poor legal protection to minority shareholders. Government intervention exacerbates while controlling shareholder's cash flow rights constrains excess debt financing. The empirical results conclude that the improvement of the legal environment, limiting government intervention, and raising controlling shareholder's cash flow rights will effectively reduce excess debt level, as well as long‐term debt ratio.

First, this paper provides a theoretical model to explain the mechanism of how the ownership structure, legal environment and government intervention interact to impact debt financing. This result also provides a theory to explain the “paradox” in a transitional economy that better legal protection lowers debt level and long‐term debt ratio. Second, this paper provides further evidence on controlling shareholder's expropriation to minority shareholder through debt financing.

The purpose of this paper is to examine the impact of legal protection of bank minority shareholders (noncontrolling shareholders) and bank creditors (e.g. depositors or debt-holders) on bank dividend payout policies using a panel data set of 5,918 banks from 52 countries over the period 1998-2007, after controlling for country-level deposit insurance coverage and bank- and country-level regulatory pressures.

Tobit panel regression models are used to examine the impact of legal protection of shareholders and creditors on bank dividend payout amounts. And, logit panel regression models are used to examine the impact of legal protection of shareholders and creditors on banks’ likelihood to pay dividends.

The authors support the outcome hypothesis by finding that banks pay higher amount of dividends and, are more likely to pay dividends in strong minority shareholder protection countries. However, the authors reject the substitute hypothesis by finding that banks pay higher dividends and are more likely to pay dividends in weak creditor rights countries, and banks do not substitute weak creditor rights with lower dividend payout amounts. Contrary, the authors support the literature which argues the importance of creditor rights for capital market development because one possible reason for low dividend payouts in strong creditor rights countries could be that the banks retain more profits for extending more loans.

By finding that creditor rights index has a negative relation with bank dividend policies in contrast to its positive relation with nonfinancial firms’ dividend policies, the authors support the literature which argues that managers of banks give less importance to factors such as current degree of financial leverage, the contractual constraints such as dividend restrictions in debt contracts, and the financing considerations such as the cost of raising external funds, while deciding about the dividend payments. The authors also suggest to keep financial and nonfinancial firms separate, to better understand the dividend puzzle.

Extant literature recognizes that legal institutions such as shareholder protection and creditor rights affect corporate firms’ dividend policies significantly but largely excludes banking sector. This paper, by examining the relations between legal protection of shareholders and creditors and bank dividend policies, fills this research gap.

The purpose of this paper is to analyze the effectiveness of legal protection mechanisms to sustain competitive advantage and appropriate technological intellectual capital, taking into account its degree of complexity.

The empirical analysis was conducted on a sample of Spanish biotechnology firms, devoted to human and animal health, having a specific department for carrying on R&D activities from 2001 to 2003. The hypotheses were tested by non‐parametric techniques after collecting data by sending a questionnaire as the primary source of information.

The results show that the higher the complexity of technological knowledge, the greater the protection of intellectual capital against imitation. In addition, it is proven that legal protection is an effective means of protection against imitation only when technological knowledge has a low degree of complexity.

Within the resource‐based view context, our results provide new empirical evidence about the great impact of the complexity of technological intellectual capital on evaluating the effectiveness of legal protection mechanisms and sustaining competitive advantage.

This research is of great value for strategic technological decision‐making. Although several studies present the theoretical conditions that explain how firms can create imitation “barriers”, the empirical evidence found is very scarce and controversial, especially for the Spanish biotechnology industry. The results obtained here offer new empirical evidence on the resource‐based view.

The purpose of this paper is to analyze the relationship between ownership structure and firm performance, including judicial system efficiency as a moderator to investigate the joint effects of both explanatory variables. Although prior studies have considered judicial system efficiency by examining de jure investor protection, this study identifies another useful proxy and explores de facto legal protection.

Ordinary least square multiple regression models were used to examine the influence of judicial efficiency, which was measured using the disposition time (DT) and legal origin, as a moderator of the relationship between ownership concentration and firm performance for a sample of 565 non-financial companies listed in Italy, France, Germany and Spain in 2013.

This paper shows that de facto investor protection ensured by an efficient judicial system is relevant to the relationship between firm performance and ownership structure. As a moderator variable, DT strengthens the intensity of this relationship in countries with low judicial efficiency, showing that ownership concentration leads to a better enhancement of firm performance and is, therefore, a more efficient governance mechanism in countries in which investor protection is weak.

The evidence presented expands the understanding of the link between firm performance and ownership structure. The institutional deficiencies suggest that internal governance mechanisms may substitute for external mechanisms in facilitating efficient governance. This study corroborates policymakers’ concerns regarding the efficiency of judicial systems and their role in protecting the rights of minority shareholders. The results suggest a need for more efficient external mechanisms of investor protection to facilitate investment in equity capital. Moreover, this study shows that DT is a more accurate measure of investor protection than the traditional measure of de jure legal protection.

To examine the impact of corporate governance on Cost of Capital (COC) and financial distress in the ASEAN countries.

We compiled a list of the 50 largest publicly listed firms by market capitalization in each of the following five East Asian countries, namely Malaysia, Singapore, Thailand, the Philippines, and Indonesia. Furthermore, we then divided the five countries into two distinctive categories – (i) Malaysia and Singapore (Common Law/strong legal protection countries) and (ii) Thailand, the Philippines, and Indonesia (Civil Law/weak legal protection countries). The annual data is collected for the time period ranging from 2006 to 2015, allowing a total observation of 1,317 firm years.

Overall, the paper supports the findings of many researchers that Board independence, promulgating good corporate governance, leads to better access to capital at lower cost, thus providing growth opportunities for ASEAN region. Taking lead from Simpson and Gleason (1999) and similar, we emphasize that during financial distress CEO duality will strengthen control systems and reduce internal discord in ASEAN firms.

The paper is one of the niche studies that has incorporated the difference between civil and common law rule in the study of corporate governance and its impact on financial measures of firms' in the ASEAN countries.

The purpose of this paper is to investigate the impact of corporate internationalization, governance structures, and legal protections on the foreign earnings response coefficient (FERC). The FERC is a measure of the value‐relevance of foreign earnings.

Data were collected on 3,653 Taiwanese firms which had overseas investments. The authors examined the impact of the site of their overseas investments and the nature of the legal code of the investee country on the investor perceptions of firms' reported foreign and domestically‐generated earnings. Also examined was the impact of corporate governance arrangements (e.g. the difference between the owners' cash flow and voting rights) on the same components of the firms' earnings.

The empirical findings suggest that an aggressive internationalization strategy (foreign direct investment) has positive effects on the value relevance of foreign earnings, but that this strategy is impacted by the firm's own corporate governance arrangements and the target of its overseas investment efforts. While foreign investments bring about growth and profits, they expose the investors to the risk of expropriation by investee countries and corporate insiders.

The importance of the findings is that they should help regulatory agencies – and firms themselves – to better understand factors that can promote the global expansion of domestic enterprises.

Human trafficking (HT) is a local, national and international problem with a range of human rights, public health and policy implications. Victims of HT face atrocious abuses that negatively impact their health outcomes. When a state lacks protective laws, such as Safe Harbor laws, victims of HT tend to be seen as criminals. This paper aims to highlight the legal present gaps within Missouri’s anti-trafficking legislation and delineates recommendations for the legal protection of victims of HT and betterment of services needed for their reintegration and healing.

This case-study is based on a policy analysis of current Missouri’s HT laws. This analysis was conducted through examining current rankings systems created by nationally and internationally recognized non-governmental organizations as well as governmental reports. Additionally, other state’s best practice and law passage of Safe Harbor legislations were examined. The recommendations were based on human rights and public health frameworks.

Missouri is a state that has yet to upgrade its laws lately to reflect Safe Harbor laws. Constant upgrades and evaluations of current efforts are necessary to protect and address HT at the state and local levels. Public health and human rights principles can assist in the upgrading of current laws as well as other states’ best-practice and integration of protective legislation and diversion programs to both youth and adult victims of HT.

Laws are continually being updated at the state level; therefore, there might be some upgrades that have taken place after the analysis of this case study was conducted. Also, the findings and recommendations of this case study are limited to countries that are similar to the USA in terms of the state-level autonomy to pass laws independently from federal law.

If Safe Harbor laws are well designed, they have greater potential to protect, support and assist victims of HT in their process from victimization into survivorship as well as to paving the way for societal reintegration. The creation and enforcement of Safe Harbor laws is a way to ensure the decriminalization process. Additionally, this legal protection also ensures that the universal human rights of victims are protected. Consequently, these legal processes and updates could assist in creating healthier communities in the long run in the USA and around the world.

From a public health and human rights perspectives, communities in the USA and around the world cannot provide complete protection to victims of HT until their anti-trafficking laws reflect Safe Harbor laws.

This case study, to the best of the authors’ knowledge, is a unique analysis that dismantles the discrepancies of Missouri’s current HT laws. This work is valuable to those who create policies at the state level and advocate for the protection of victims and anti-trafficking efforts.

This paper explores the reasons why Indonesia must have legal regulations to provide protection and guarantees for health workers in carrying out the profession in overcoming corona virus disease (COVID-19). This paper also explains the legal regulations as the foundation for today’s medical workers’ protection. This paper also aims at providing an ideal legal construction that safeguards the rights and obligations of health workers in overcoming COVID-19.

In this paper, the author used qualitative research methods with a socio-legal approach. The data were obtained through literature study and analysis of laws and regulations through the socio-legal method.

Various challenges and professional risks taken by health workers in dealing with COVID-19 derive from several factors, such as shortage of personal protective equipment, ineffective implementation of informed consent from the patients and the negative stigma spreading in the community. Moreover, the current legal regulation has not particularly modulated the protection of health workers, relying only on available articles that are actually irrelevant to be applied in the COVID-19 pandemic.

This research is focused on problems faced by health workers in combating COVID-19 and law concessions to ensure their protection.

The final results of this research will be useful for The House of Representatives (DPR), the Ministry of Health of the Republic of Indonesia (Kemenkes RI) and the Indonesian Medical Association (IDI) in establishing legal and regulatory construction for the protection of health workers in tackling COVID-19.

This research aims at strengthening legal protections for the health workers so that their rights and obligations are well guaranteed.

This paper proposes an ideal legal construction for the protection of health workers during the COVID-19 pandemic, which is currently still not specifically and rigidly regulated, to realize a guaranteed and sustainable life for health workers.