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Due to their particular nature, virtual assets (VA) are vulnerable to financial crimes such as money laundering and if the appropriate legal mechanisms are not established, this may result in the financial collapse of various economies. To this effect, best practices and standards have been published by some international organisations such as the Financial Action Task Force and IMF which are now domesticated in the national laws of several countries. Therefore, the purpose of this study is to analyse the anti-money laundering (AML) legislative framework in the context of VA in three countries, namely, Mauritius, Japan and South Africa.

To achieve the research objective, the Mauritian AML laws in the context of VA were compared with the corresponding laws of some other countries, namely, Japan and South Africa. As such, a qualitative research method was adopted. In particular, the black letter approach was used to examine the relevant laws of these countries. A comparative analysis was conducted concerning the relevance of AML laws for each country when dealing with VA with the view of suggesting recommendations for Mauritian stakeholders to adopt to enhance the existing AML legal and regulatory framework.

The comparative study conducted has revealed that there are both similarities and divergences among the AML framework of the three countries further to which this research recommends that the Mauritian laws must be amended concerning the duration of information storage on VA, the definition of VA, advertisement by VA service providers and the electronic submission of annual reports. The Mauritian regulatory bodies also need to play a more active role in their joint collaboration to monitor suspicious VA transactions to combat money laundering.

At present, this study will be among the first academic writings on the efficiency of AML laws in the context of VA in Mauritius and also, because existing literature is quite scarce on assessing the adequacy of AML legislation in developing countries, this research aims at filling in the gap in literature. This study is carried out with the aim of combining a large amount of empirical, theoretical and factual information that can be of use to various stakeholders and not only to academics.

Financial institutions, including banks, have their responsibilities to contribute towards the preservation of the environment. Green banking is an emerging concept that involves eco-friendly initiatives by banks and although Mauritius lacks a comprehensive regulatory framework for green banking, there exists a few green regulations and guidelines. Accordingly, the purpose of this study is to critically analyse the existing legal and regulatory framework on green banking in Mauritius. It is expected that this study will showcase the need for some more robust and proper green banking legal and regulatory framework in Mauritius.

To achieve the research objective, a black-letter analysis is used to analyse the existing regulatory framework in Mauritius. Moreover, a comparative analysis of the current legal frameworks on green banking in countries like Bangladesh, Indonesia, Pakistan and the UK is carried out.

This study recommends the establishment of a guideline or legal framework for green banking, a Sustainable Finance Policy, a legal binding framework for issuance of bonds, adoption of a Task Force on Climate-related Financial Disclosure guideline, compulsory environmental reporting and disclosures and a green standard rating.

To the best of the authors’ knowledge, this research is among the first literature on green banking laws, especially in the context of a developing country being Mauritius, and it is anticipated that the findings are of use not only to academics but also to the wider community in general.

Mauritius’s residential real estate sector has undergone an increase in foreign investment over the past decades. This study aims to establish if the increasing level of foreign real estate investments (FREI) has increased land demand and land prices. The study also aims to depict whether the relation between FREI and land prices prevails at an aggregate and/ or a regional level.

Data from 26 regions, classified as urban, rural and coastal is collected on an annual basis over the period 2000 to 2019, and a dynamic panel regression framework, namely, an autoregressive distributed lag model, is used to take into account the dynamic nature of land price modeling.

The findings show that, at the aggregate level, in the long-term, FREI does not have a significant influence on land prices, while in the short term, a positive significant relationship is noted between the two variables. A regional breakdown of the data into urban, rural and coastal was done. In the long term, only in coastal regions, a positive significant link was observed, whereas in urban and rural regions FREI did not influence land prices. In the short term, the positive link subsists in the coastal regions, and in rural regions also land prices are positively affected by FREI.

Unlike other studies which have used quite general measures of FREI, the present research has focused on FREI mainly undertaken in the residential real estate market and how these have affected residential land prices. This study also contributes to research on the determinants of land prices which is relatively scarce compared to research on housing prices.

This study aims to assess the evolution of the value relevance of book value, earnings and its components in Mauritius, an African developing country, focusing on value relevance changes after International Financial Reporting Standards (IFRS) adoption and subsequent local reforms.

The study relies on a data set of 567 firm-year observations (2001–2018) and the Ohlson valuation model to investigate value relevance after IFRS adoption, the implementation of institutional reforms and enforcement reforms.

Firstly, the authors find support for a rise in the combined value relevance of earnings and book value, albeit that book value significantly contributes to changes over time. The findings highlight the combined importance of IFRS adoption with institutional and enforcement reforms to improve value relevance. Secondly, the authors do not find evidence of a shift in value relevance between earnings and book value. Third, the cash flow model reveals a higher level of significance relative to the earnings model.

The authors extend the value relevance literature in the context of African developing countries. The present findings underpin the need for a reinforcing of relevant institutional and enforcement frameworks to ensure the benefits of IFRS adoption materialise. The findings also offer a contribution of how developing countries’ experience IFRS post-adoption while adding to the dearth of studies analysing IFRS enforcement practices.

This study sheds light on the impact of coronavirus disease 2019 (COVID-19) on self-employed women in Mauritius and delves into their coping strategies amid unprecedented circumstances.

The study employs a comprehensive methodology encompassing both qualitative and quantitative approaches. Qualitative analysis is conducted via interviews with self-employed women in Mauritius, capturing their experience with COVID-19. Quantitative analysis uses survey data from 732 firms to investigate factors affecting online sales, a major survival strategy adopted by businesses.

The study finds a notable trend wherein many interviewed women have transitioned their businesses online – a pivot that stands out as a common response within the sample. The quantitative analysis indicates the significance of a strong online presence, particularly on social media and web-based platforms designed for the sale of goods and services. These factors correlate with higher online sales, potentially enhancing resilience during pandemic-induced lockdown periods.

This study stands out for its originality, representing the first study investigating how women entrepreneurs in Mauritius have navigated the challenges posed by the COVID-19 crisis.

This study examines the bi-directional relationship between corporate social responsibility disclosure (CSRD) and ownership structure through a dynamic empirical framework in an emerging economy context.

Data over 10 years are used to investigate the response of disclosure to ownership structure variables and vice versa. Dynamic bi-directional relationships are hypothesised and empirically investigated using a panel vector autoregressive (PVAR) model. The ownership structure variables used are government ownership, block ownership and director ownership, while CSRD is constructed as a score through content analysis.

A bi-directional negative relationship between CSRD and government ownership is found, revealing a preference for the state to invest in companies with opaque disclosure. CSRD is found to respond negatively to block ownership, albeit weakly. Results also show that directors prefer to own shares in the company they manage when there are low levels of CSRD.

The current empirical set-up of using a small emerging economy may not carry to the context of larger emerging economies where the institutional context may differ. Thus, future research could use this dynamic empirical approach to re-examine the questions raised in this paper using data from other emerging economies. The use of a longer time series makes it feasible to explore further analysis what was not possible in this study, such as an impulse response analysis examining the reaction of the variables of interest, CSRD and ownership variables for a specific time horizon to particular changes or shocks associated with one of the endogenous variables in the PVAR.

A major implication is that expecting disclosure practices to improve due to government and director initiatives would be less likely in emerging economies. State and director shareholders prefer to invest in opaque companies because they may purposely choose to keep the minimum disclosure levels. The paper calls for a transparent process and ethical guidelines to guide government investment in firms.

The study investigates the bi-directional relationship between ownership structure and CSRD in contrast to the existing literature's presupposed one-way relationship between these variables by demonstrating that bi-directionality does matter. This paper also contributes to the CSRD literature in the emerging economy context. The bi-directional negative relationship between CSRD and government ownership calls for a transparent selection process of board members as representatives of the state in those companies where the government has an ownership stake. It also calls for a transparent process and ethical guidelines to guide government investment in firms.

The paper provides a step-by-step guide in the guise of a roadmap for service improvement initiatives using importance performance map analysis (IPMA).

To empirically illustrate how IPMA can be applied to any service industry, three sectors are considered; sports and fitness (study A), hospitality (study B) and higher education (study C). Following the proper selection of measuring instruments and their evaluation using structural equation modeling-partial least squares (Smart-PLS), IPMA is applied to identify those attributes having strong total effects (high importance) over the targeted construct (satisfaction) but which also have low average latent variable scores (low performance).

For sports and fitness (study A), the physical aspects and programme quality require managerial attention. For the hospitability sector (study B), it is service commitment, interaction quality and internal sense of happiness. Whereas for higher education (study C), it is administrative quality as well as the element of transformative quality, namely the university’s role in adding to its students’ emotional stability, which needs the attention of the top management.

This study provides researchers and practitioners with a roadmap for applying PLS-SEM and IPMA for continuous service quality improvement. The roadmap extends upon Ringle and Sarstedt’s (2016) work. It highlights critical decisions that need to be considered in the pre-analytical stages of the IPMA application, i.e. at the research design phase in selecting the most appropriate service quality measurement model specifications. It not only contributes to the existing body of knowledge by providing empirical evidence to advance theory development in the quality management field but also has implications for the practitioners in any service sector on where to focus their attention for an effective service improvement.

This paper addresses the issue of the underrepresentation of women in leadership positions within the information and communication technology (ICT) and engineering fields. The study examines the complex issue of vertical segregation and gender equality by exploring the barriers that women encounter and the potential coping strategies they adopt to advance in their careers.

The study employs a qualitative approach, conducting semi-structured interviews with 17 women at middle and upper management levels in the ICT and engineering sectors. This approach aims to better understand women's workplace experiences and gain deeper insights into the nature of the barriers they face.

The study identifies four main factors hindering women's progression toward senior management positions, namely working hours, work-family conflict, social role stereotypes and second-generation bias. The results also offer useful insights into the coping strategies adopted by women to overcome these barriers.

The study highlights the persisting underrepresentation of women in senior positions, indicating a societal and organizational lag in terms of inclusion and equity. It underscores the importance of developing effective policies to address the challenges faced by employees striving to balance their work and family commitments. Training is recognized as an important tool for raising awareness about gender stereotypes among employees and reducing second-generation bias.

This study provides valuable lessons derived from its findings, including potential strategies that organizations can implement to help women navigate and overcome workplace barriers in the ICT and engineering fields.

Although publicly listed firms in Sri Lanka have been increasingly adapting sustainability reporting into their annual reporting practices, a limited number of firms prepare sustainability reports by integrating sustainable development goals (SDGs) into reporting mechanisms. This study attempts to develop an index to monitor firms' sustainability reporting practices based on Global Reporting Institute (GRI) guidelines integrating SDGs.

This paper develops a sustainability score index using the 17 SDGs utilising the results of content analysis of corporate annual reports of a selected sample of 100 firms listed on the Colombo Stock Exchange (CSE). Principal component analysis was employed to examine the reliability of data in the developed index.

Findings show that the developed scoring index is efficient for evaluating the contents of the sustainability reports of Sri Lankan firms. Sustainability reporting practises with regard to the SDGs were observed to have a turbulent period from 2015 to 2019 and the SDGs 12 and 15 were identified to be mostly reported in Sri Lankan corporate sustainability reports.

The results of the study add to knowledge on the monitoring of sustainability reporting practises with reference to SDGs. The study outcomes are useful for the investors, stakeholders, and statutory bodies to measure the sustainable performance of business firms and assess the firm’s commitment towards the global sustainability agenda.

To the best of our knowledge, this is the first study that constructs a sustainability reporting score index integrating SDGs.

This paper aims to explore the current trends in corruption and investigate the characteristics of corporate gift policies and their role in preventing bribery.

This is a descriptive study based on primary data from a recent sample of Canadian companies’ codes of conduct and secondary data from recent corruption surveys published by non-governmental organisations.

This study shows that 25% of all private and public corruption cases generate financial damages of more than US$1m per case and that 50% of all investigated fraud cases are corruption cases (ACFE, 2022). Furthermore, the Western Europe and EU region is perceived as least corrupt, whereas Sub-Saharan Africa is perceived as the most corrupt region (Transparency International, 2022). However, bribery is fairly common in nine EU countries where 10% or more of public service users bribed public officials to influence their decisions (Transparency International, 2021). Results from primary data show that 9.3% of firms put a total ban on gifts given to governmental officials, whereas 35.2% require a superior’s approval and only 5.5% state a dollar limit for the gift. Results also show that not a single firm prohibits the giving of gifts to non-governmental stakeholders or the receiving of gifts from any type of stakeholder. This paper argues that gifts can bias the recipient’s judgement and improperly influence future business decisions based on the gift’s subjective value, nature and context.

This paper extends previous research by examining the characteristics of corporate gift policies. It also helps organisations improve their gift policies in an effort to reduce corruption.

It is the first paper to investigate the characteristics of corporate gift policies and their role in preventing corruption.