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Article
Publication date: 19 September 2019

Nurlan Orazalin and Monowar Mahmood

The purpose of this paper is to investigate the extent and determinants of sustainability performance disclosures reported by publicly traded companies in Kazakhstan by…

Abstract

Purpose

The purpose of this paper is to investigate the extent and determinants of sustainability performance disclosures reported by publicly traded companies in Kazakhstan by using the Global Reporting Initiative (GRI) framework. Among the different possible determinants, stand-alone sustainability reporting (SR), reporting language, leverage, cash flow capacity, profitability, size, age and auditor type were selected to investigate their impacts on the quality and scope of sustainability information.

Design/methodology/approach

The study analyzes data from publicly traded companies at the Kazakhstani Stock Exchange for the years 2013–2015. To investigate the extent, nature and quality of sustainability reports, the study measures and analyzes economic, environmental and social performance parameters, as suggested in the GRI guidelines.

Findings

The results indicate that determinants such as stand-alone reporting, reporting language, firm profitability, firm size and auditor type substantially influence the extent, nature and quality of sustainability-reporting practices of Kazakhstani companies.

Practical implications

The findings of the study suggest that managers, practitioners, regulators and policy makers in emerging economies should adopt the GRI guidelines to report sustainability performance disclosures and focus on specific factors to improve the quality of sustainability disclosures.

Originality/value

This study is one of the first studies to investigate the extent, nature and possible determinants of corporate SR in central Asian-emerging economies.

Details

Journal of Accounting in Emerging Economies, vol. 10 no. 1
Type: Research Article
ISSN: 2042-1168

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Article
Publication date: 16 May 2019

Nurlan Orazalin

This paper aims to explore the extent and nature of corporate social responsibility (CSR) reporting practices in the banking sector of Kazakhstan and investigates the…

Abstract

Purpose

This paper aims to explore the extent and nature of corporate social responsibility (CSR) reporting practices in the banking sector of Kazakhstan and investigates the effects of board characteristics on CSR disclosures in the given emerging economy.

Design/methodology/approach

Data on CSR disclosures were manually collected from annual reports of all commercial banks listed in the Kazakhstan Stock Exchange (KASE) for the period 2010-2016. Financial data were obtained from audited financial statements available on bank websites and the Web page of the National Bank of Kazakhstan.

Findings

The empirical results reveal that board gender diversity has a positive influence on CSR reposting, while board size and board independence have no impact on the level of CSR disclosures. Furthermore, the results show that bank size and bank age are significant factors in the dissemination of CSR disclosures. Additionally, the findings suggest that banks with a share of foreign ownership disclose more extensive and transparent information on CSR activities than banks owned by local investors and state-owned banks.

Originality/value

The study provides evidence on the relationship between corporate governance and the level of CSR in the context of an emerging economy such as Kazakhstan, representing the Central Asian region. The study contributes to the current literature by focusing on the banking sector of Kazakhstan as a research context due to its substantial representation in the capital market of the given emerging economy.

Details

Corporate Governance: The International Journal of Business in Society, vol. 19 no. 3
Type: Research Article
ISSN: 1472-0701

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Article
Publication date: 10 January 2020

Nurlan Orazalin

The purpose of this study is to examine whether board gender diversity and other board characteristics affect earnings management practices of top public companies in Kazakhstan.

Abstract

Purpose

The purpose of this study is to examine whether board gender diversity and other board characteristics affect earnings management practices of top public companies in Kazakhstan.

Design/methodology/approach

The study analyzes data of top public companies for the period 2010-2016. Data on corporate governance were manually collected from annual reports and investment memorandums, and financial data were collected from audited financial statements.

Findings

The empirical results show that companies with greater board gender diversity are more effective in constraining earnings management. The findings also indicate that companies with larger boards adopt a more restrained approach to earnings management practices, thus supporting the theoretical framework of the study. However, the results provide weak evidence of the association between board independence and earnings quality.

Originality/value

This study is the first to investigate the relationship between gender diversity and earnings management in emerging markets such as Kazakhstan that offers managerial and policy implications.

Details

Gender in Management: An International Journal , vol. 35 no. 1
Type: Research Article
ISSN: 1754-2413

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Article
Publication date: 17 April 2020

Monowar Mahmood, Md. Aftab Uddin, Alexandr Ostrovskiy and Nurlan Orazalin

Based on the tenets of the conservation of resources (COR) theory, this study investigated the influence of different leadership styles on organizational performance in…

Abstract

Purpose

Based on the tenets of the conservation of resources (COR) theory, this study investigated the influence of different leadership styles on organizational performance in the context of a Eurasian country (i.e. Kazakhstan). It further examined the moderating role of corporate culture in the leadership-organizational performance relationship.

Design/methodology/approach

Using the quantitative survey method, the study collected data from 321 managerial employees working in local and multinational corporations in Kazakhstan. The collected data were analysed using SPSS software, and factor analysis, path analysis and hierarchical regression analysis were conducted to validate the hypotheses. Furthermore, structural equation modelling was developed to assess the moderating effects of the variables.

Findings

The findings reveal that among different leadership styles, transformational, transactional and paternal leadership have higher influences on organizational performance. Among different corporate cultures, clan culture appears to have higher moderating effects on the leadership-organizational performance relationship. The moderating role of corporate culture on the leadership influence-organizational performance relationship supports the “resource caravan” effects of the composition model theory.

Research implications

Based on the premises of the COR theory, this study suggests developing multiple leadership competencies among managerial employees to be more effective in any given organizational or country context. As a result of the inclusiveness of multiple competencies, the study further suggests the consideration of an “integrated leadership approach” in the Eurasian context. Consistent with the national cultural syndrome, and as preferred by employees, managers could focus on developing a clan or group culture to strengthen their influencing power on employees.

Originality/value

The study adopts the COR theory by considering leadership competencies as unique resources of individual managers, which suggests the development of an “integrated leadership approach” for better management development and improved organizational performance. Furthermore, the study contributes by validating the applicability of the “conservation of resources” and the “composition model” theories in leadership studies.

Details

Journal of Management Development, vol. 39 no. 6
Type: Research Article
ISSN: 0262-1711

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Article
Publication date: 24 September 2018

Nurlan Orazalin and Monowar Mahmood

This paper aims to investigate the effects of different sets of corporate governance (CG) practices on bank performance before, during and after the financial crisis. The…

Abstract

Purpose

This paper aims to investigate the effects of different sets of corporate governance (CG) practices on bank performance before, during and after the financial crisis. The study proposes some policy measures for improved CG practices to protect banks from the detrimental effects of future financial crises and economic meltdowns in the context of emerging markets such as Kazakhstan.

Design/methodology/approach

The study analyses data from all commercial banks listed in Kazakhstan Stock Exchange for the pre-economic crisis, during the crisis and after the economic crisis periods. The study uses the panel regression model to control unobserved time-constant heterogeneity.

Findings

The study found that better CG practices led to better operating performance of the banks after the financial crisis periods. The changes in CG codes, board structures, disclosure requirements and board members’ competencies over time had a significant influence on CG practices and subsequently improved operating performance of the banks.

Originality/value

This is one of the first studies to examine the effects of CG practices on bank performance in central Asian transition economies, which are still heavily influenced by Soviet heritage and legacy.

Details

Corporate Governance: The International Journal of Business in Society, vol. 19 no. 1
Type: Research Article
ISSN: 1472-0701

Keywords

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Article
Publication date: 14 May 2019

Nurlan Orazalin and Rassul Akhmetzhanov

This study aims to examine the effects of earnings management and audit quality on cost of debt of listed companies in Kazakhstan. The study also investigates the effects…

Abstract

Purpose

This study aims to examine the effects of earnings management and audit quality on cost of debt of listed companies in Kazakhstan. The study also investigates the effects of audit quality on earnings management and whether the relationship between earnings management and cost of debt is affected by audit quality in the context of a given emerging economy.

Design/methodology/approach

The study sample consists of public companies listed in the Kazakhstan Stock Exchange (KASE) from 2011 to 2016, and all data were obtained from audited financial statements and annual reports downloaded from the webpage of KASE. The study uses the cross-sectional ordinary least squares technique to test the impact of audit quality and earnings management on cost of debt.

Findings

The collected empirical evidence shows that earnings management is negatively related to cost of debt. The findings also indicate that higher audit quality leads to a lower cost of debt. However, the results suggest that audit quality has no impact on earnings management and that the effect of earnings management on cost of debt is not different for the companies audited by the Big Four and for the companies audited by other audit firms.

Practical implications

The findings of the study can be of interest to policy-makers, regulators, investors and practitioners in emerging markets with an institutional environment similar to that of Kazakhstan.

Originality/value

The study throws more light on the impact of earnings management and audit quality on cost of debt in Kazakhstan, representing the Central Asian region. This study also extends the current literature by providing empirical evidence that the relationship between earnings management and cost of debt is not affected by audit quality.

Details

Managerial Auditing Journal, vol. 34 no. 6
Type: Research Article
ISSN: 0268-6902

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Article
Publication date: 3 October 2016

Nurlan Orazalin, Monowar Mahmood and Keun Jung Lee

The purpose of this paper is to investigate the impact of different dimensions of corporate governance practices such as board characteristics, ownership structure…

Abstract

Purpose

The purpose of this paper is to investigate the impact of different dimensions of corporate governance practices such as board characteristics, ownership structure, corporate disclosure and CEO education on the operating performance of Russian banks before, during and after financial crises. Based on the findings, it proposes some policy measures for improved governance practices to protect banks from future financial crisis or economic downturns.

Design/methodology/approach

The study comprises data from the largest publicly traded Russian banks listed on the Russian Stock Exchange RST for the period. Operating performance data were collected from financial statements, while corporate governance mechanisms were collected from annual reports available on the banks’ websites. Because panel data were used, the panel regression model was used to control unobserved time-constant heterogeneity.

Findings

The findings revealed a positive impact of corporate governance on bank performance before and after the financial crisis. The financial crisis enforced Russian banks to improve their corporate governance practices, resulting in better operating performance after the crisis. Surprisingly, the results for the during-crisis period show that better governance did not yield higher operating performance in Russian banks.

Originality/value

This is one of the first studies to provide empirical results regarding the relationship between corporate governance practices and bank performance in Russia across different financial crisis periods. The findings revealed the uniqueness of corporate governance scenarios of Russia which could provide important guidelines for other transition economies and emerging markets.

Details

Corporate Governance: The International Journal of Business in Society, vol. 16 no. 5
Type: Research Article
ISSN: 1472-0701

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Article
Publication date: 8 June 2020

This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.

Abstract

Purpose

This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.

Design/methodology/approach

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

Findings

This research paper concentrates on how the presence of women on board of directors in listed companies in Kazakhstan may impact on the quality and trustworthiness of financial reporting. Based on the analysis, women were found to play a key role in mitigating earnings management (EM) and other information failures within these organizations. Furthermore, Board diversity was found to be a particularly strong deterrent to EM in high litigious industries within emerging markets. The results also convey that EM practices are less common in firms that have a higher number of directors, and in profitable companies.

Originality/value

The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Details

Human Resource Management International Digest , vol. 28 no. 5
Type: Research Article
ISSN: 0967-0734

Keywords

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