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1 – 2 of 2Nasir Sultan, Norazida Mohamed, Mervyn Martin and Hafizah Mohd Latif
This study aims to examine the Financial Action Task Force’s recommendations on virtual currencies (VCs) and how Pakistan has responded to them.
Abstract
Purpose
This study aims to examine the Financial Action Task Force’s recommendations on virtual currencies (VCs) and how Pakistan has responded to them.
Design/methodology/approach
Qualitative document and jurisprudence analysis techniques were used to achieve the study’s goal.
Findings
According to this study, VCs are modern FinTech that no jurisdiction can ignore. However, Pakistan has not adopted regulations to govern VCs but comprehensively prohibits their use. It is primarily due to the apathy of various regimes and regulators. Furthermore, the geographical location, undocumented economy and rampant corruption could facilitate the abuse of VCs for money laundering.
Originality/value
This study has provided a significant overview for developing regulations for VCs in Pakistan and other developing jurisdictions with the same characteristics.
Details
Keywords
Giacomo Pigatto, Lino Cinquini, John Dumay and Andrea Tenucci
This study aims to provide a critical assessment of developments in the field of voluntary corporate non-financial and sustainability reporting and disclosure (VRD). The…
Abstract
Purpose
This study aims to provide a critical assessment of developments in the field of voluntary corporate non-financial and sustainability reporting and disclosure (VRD). The assessment is grounded in the empirical material of a three-year research project on integrated reporting (IR).
Design/methodology/approach
Alvesson and Deetz’s (2021) critical management framework structures the arguments in this paper. By investigating local phenomena and the extant literature, the authors glean insights that they later critique, drawing on the empirical evidence collected during the research project. Transformative redefinitions are then proposed that point to future opportunities for research on voluntary organisational disclosures.
Findings
The authors argue that the mainstream approaches to VRD, namely, incremental information and legitimacy theories, present shortcomings in addressing why and how organisations voluntarily disclose information. First, the authors find that companies adopting the International IR Council’s (IIRC, 2021) IR framework tend to comply with the framework only in an informal, rather than a substantial way. Second, the authors find that, at times, organisations serendipitously chance upon VRD practices such as IR instead of rationally recognising the potential ability of such practices to provide useful information for decision-making by investors. Also, powerful groups in organisations may use VRD practices to establish, maintain or restore power balances in their favour.
Research limitations/implications
The paper’s limitations stem directly from its aim to be a critical reflection. Even when grounded on empirics, a reflection is mainly a subjective effort. Therefore, different researchers could come to different conclusions and offer different lessons from the two case studies.
Practical implications
The different rationales the authors found for VRD should make a case for reporting institutions to tone down any investor-centric rhetoric in favour of more substantial disclosures. The findings imply that reporting organisations should approach the different frameworks with a critical eye and read between the lines of these frameworks to determine whether the purported normative arguments are achievable practice.
Originality/value
The authors reflect on timely and relevant issues linked to recent developments in the VRD landscape. Further, the authors offer possible ways forward for critical research that may rely on different methodological choices, such as interventionist and post-structuralist research.
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