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1 – 5 of 5This paper explores the experience of “Shari’a” as non-state law in the English courts through a historical analysis of past Islamic finance dispute resolutions (IFDRs). This…
Abstract
Purpose
This paper explores the experience of “Shari’a” as non-state law in the English courts through a historical analysis of past Islamic finance dispute resolutions (IFDRs). This paper aims to propose a conceivable scenario relating to the law applicable in international commercial contracts in the English courts with the emergence of the Hague Principles 2015.
Design/methodology/approach
This paper addresses several issues that have been raised in English case law: doubts about the legal nature of “Shari’a” as non-state law; the limits placed on freedom of choice of “Shari’a” law by the application of a single legal system; and the distinction between application of law and incorporation by reference of “Shari’a” in IFDRs. The paper then analyses the conformity of “Shari’a” with the provisions now used to resolve Islamic finance disputes (trade and investment) in the English courts, using an empirical analysis of The Accounting and Auditing Organization for Islamic Financial Institutions standards.
Findings
The paper provides that, in theory, “Shari’a” standards could play a significant role in IFDRs after Brexit, even though a gap persists in practice because the Hague Principles 2015 have not yet been adopted by the English legal system.
Research limitations/implications
The study focuses on the English courts and shows how the IFDRs could be resolved with the emergence of Hague Principles 2015 in the post-Brexit era.
Originality/value
To the best of the author’s knowledge, this paper appears to be the first paper to provide a conceivable scenario relating to the future of the IFDRs in the English courts.
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Mohammad Alta’any, Ven Tauringana, Alaa Zalata and Laura Obwona Achiro
This paper aims to document international evidence of the impact of a board-level governance bundle [size, independence, CEO duality, gender diversity and sustainability committee…
Abstract
Purpose
This paper aims to document international evidence of the impact of a board-level governance bundle [size, independence, CEO duality, gender diversity and sustainability committee (SC)] on sustainability reporting (SR) and, separately, on its three dimensions (economic, environmental and social).
Design/methodology/approach
The sample includes 370 listed firms from 50 countries. A GRI standards-based disclosure index was constructed to quantify SR across various reporting media.
Findings
The baseline findings show that SC positively affects SR and its three dimensions. Board size also has a significant and positive impact on SR and two of its dimensions (economic and social). Similarly, board independence and CEO duality have a significant but negative association with SR and the same two dimensions. Finally, board gender diversity has no significant impact on SR and all its three dimensions.
Practical implications
The findings that only SC significantly influences SR, and its three dimensions, have important implications for corporate governance reforms internationally to improve SR in countries where such committees are not yet part of the board of directors’ sub-committees.
Originality/value
Overall, this study contributes to board characteristics–SR literature and holds significant theoretical and practical implications.
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Acheampong Owusu, Tauringana Venancio and Nicholas Asare
The purpose of this study is to examine the effect of manager attributes and psychological factors on the adoption of sustainability reporting (SR) among small and medium-sized…
Abstract
Purpose
The purpose of this study is to examine the effect of manager attributes and psychological factors on the adoption of sustainability reporting (SR) among small and medium-sized enterprises (SMEs) in Ghana.
Design/methodology/approach
The study is based on a cross-sectional data gathered using questionnaires administered to managers of SMEs in Ghana. The data is analyzed using structural equation modeling.
Findings
The results reveal that SME managers with requisite educational qualifications and knowledge about sustainability accounting adopt SR. The attitudes, subjective norms and perceived behavioral control of managers of SMEs on issues of sustainability also affect the adoption of SR. However, SMEs with old and long-serving managers do not adopt SR. SMEs with manager attributes such as professional education, gender and religious affiliation do not appear to adopt SR.
Practical implications
There is the need for regulators and other stakeholders to sensitize, persuade and provide awareness, training and educational certification to support managers of SMEs to enable them to adopt SR.
Originality/value
This study contributes to the literature on SR by offering a clear understanding of how manager attributes and psychological factors influence the adoption of SR by SMEs in developing countries.
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R.N.K. Soysa, Asankha Pallegedara, A.S. Kumara, D.M. Jayasena and M.K.S.M. Samaranayake
Although publicly listed firms in Sri Lanka have been increasingly adapting sustainability reporting into their annual reporting practices, a limited number of firms prepare…
Abstract
Purpose
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.
Design/methodology/approach
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
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.
Research limitations/implications
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.
Originality/value
To the best of our knowledge, this is the first study that constructs a sustainability reporting score index integrating SDGs.
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The purpose of this study is to investigate the moderating effect of board gender diversity on the relationship between sustainability reporting (SR) and earnings management (EM…
Abstract
Purpose
The purpose of this study is to investigate the moderating effect of board gender diversity on the relationship between sustainability reporting (SR) and earnings management (EM) in the East Africa Community (EAC).
Design/methodology/approach
The study analyzed a sample of 71 publicly traded companies from 2011 to 2021.
Findings
The study finds that both SR and board gender diversity have a negative and significant effect on EM and that board gender diversity moderates the relationship between SR and EM.
Practical implications
The findings suggest that boards should support the adoption of SR and increase female representation as a practical way to reduce EM. Policymakers should also implement appropriate measures, such as imposing mandatory SR and gender quotas on corporate boards, to address EM.
Originality/value
This research adds to the limited knowledge of SR and EM in the EAC and also fills a gap in the existing literature by investigating the influence of board gender diversity on the link between SR and EM.
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