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To the best of the author’s knowledge, the author conducts the first detailed review on the impact of ownership variables on corporate tax avoidance, based on 69 archival studies over the two last decades.

Referring to an agency-theoretical framework, the author differentiates between six categories of ownership (institutional, state, family, foreign, managerial and cross-ownership/ownership concentration). The author also includes research on ownership proxies as moderators of other determinants of tax avoidance.

The review indicates that most research refers to institutional, state and family ownership. Moreover, except for state ownership, no clear tendencies on the impact of included ownership types can be found in line with the author’s agency-theoretical framework.

Regarding research recommendations, among others, the author stresses the urgent need for recognizing heterogeneity within and interactions between ownership proxies. Researchers should also properly address endogeneity concerns by advanced econometric models (e.g. by the difference-in-difference approach).

As international standard setters have implemented massive reform initiatives on both tax avoidance and corporate governance, this literature review underlines the huge interaction between those topics. Firms should carefully analyze their ownership structure and change their tax planning due to owners' individual tax preferences.

This analysis makes useful contributions to prior research by focusing on six categories of ownership and their impact on tax avoidance in (multinational) firms and moderating effects. The author provides a detailed overview about current archival research and likes to guide researchers to focus on ownership heterogeneity and endogeneity concerns.

This study aims to investigate the implementation of lean human resource management (HRM) practices in manufacturing small- and medium-sized enterprises (SMEs) and explore how various factors interact to influence their successful adoption. By exploring the interplay among these factors, the research seeks to identify key drivers affecting the adoption of lean HRM in manufacturing SMEs. Ultimately, the research intends to provide insights that can guide organisations, practitioners and policymakers in effectively implementing lean HRM practices to enhance operational efficiency, workforce engagement and competitiveness within the manufacturing SME sector.

The study combined total interpretive structural modelling (TISM) and Matrice d'Impacts Croisés Multiplication Appliquée à un Classement (MICMAC) analysis. TISM helped in understanding the hierarchical relationship among different factors influencing lean HRM implementation, whereas MICMAC analysis provided insights into the level of influence and dependence of each factor on others.

The research revealed that “top management support” emerged as the most independent factor, indicating that strong support from top management is crucial for initiating and sustaining lean HRM practices in manufacturing SMEs. On the other hand, “employee involvement and empowerment” was identified as the most dependent factor, suggesting that fostering a culture of employee engagement and empowerment greatly relies on the successful implementation of lean HRM practices.

While the study provided valuable insights, it has certain limitations. The research was conducted within the specific context of manufacturing SMEs, which might limit the generalizability of the findings to other industries. Expert opinions introduce subjectivity in data collection. Additionally, the study may not cover all critical factors, allowing room for further exploration in future research.

The findings have practical implications for manufacturing SMEs aiming to implement lean HRM practices. Recognising the pivotal role of top management support, organisations should invest in cultivating a strong leadership commitment to lean HRM initiatives. Furthermore, enhancing employee involvement and empowerment can lead to better adoption of lean HRM practices, resulting in improved operational efficiency and overall competitiveness.

This research contributes to the field by offering a comprehensive exploration of the interplay among factors influencing lean HRM implementation. The use of TISM and MICMAC analysis provides a unique perspective on the relationship dynamics between these factors, allowing for a nuanced understanding of their roles in the adoption of lean HRM practices in manufacturing SMEs. The identification of “top management support” as the most independent and “employee involvement and empowerment” as the most dependent factors adds original insights to the existing literature.

This study examines the effect of stable institutional investors on firms' product quality failures. Furthermore, the authors investigate the channels through which institutional ownership stability enhances product quality management.

This study uses probit, ordered probit and negative binomial regression frameworks to investigate the research questions. In addition, the authors utilize the three-stage least-squares to address the endogeneity issues.

Using a sample of product recall incidents from 2012 to 2021, the authors find that firms with more stable institutional ownership have a lower probability, frequency and severity of recall incidents and adopt a proactive product recall strategy. Institutional investors with significant and persistent holdings improve quality management by reducing overinvestment and the use of option-linked and relative performance executive compensations. Furthermore, the influence of stable institutional owners on product quality failures is more pronounced in firms with low managerial ability and specialist CEOs. Lastly, the empirical evidence demonstrates that stable holdings by active investors have a more substantial impact on reducing product recalls than passive and other stable institutional holdings.

This study is the first to examine the impact of institutional ownership stability on firms' product recalls. The authors contribute to the literature on the benefits of stable institutional ownership on firm outcomes and the determinants of product quality failures.

This study provides new insights into the relationship between the heterogeneity of institutional investors (IIs) and corporate tax avoidance (CTA). It also investigates whether family ownership moderates this relationship.

Based on a sample of 200 French-listed firms from 2008 to 2017, we use the generalized method of moment (GMM) estimator proposed by Arellano and Bover (1995) and developed by Blundell and Bond (1998) to address endogeneity and omitted variable concerns.

The results show that passive IIs are associated with an increase in the level of tax avoidance. However, active ones significantly decrease the levels of tax avoidance practices. Moreover, we show that institutional activism is not sufficient to control managerial actions, particularly in the context of controlled family businesses. The results suggest that families may expropriate the rights of minority shareholders through a controlling coalition with passive IIs.

This study has several practical implications. First, the results are useful for policymakers who should constrain passive IIs to provide only one service (asset management). Second, this study may sensitize family owners to the need to cooperate with active IIs that are effective in monitoring the firm. In particular, families should be willing to sacrifice some of their socioemotional wealth to promote a balanced ownership structure, which is important for responsible and effective corporate governance.

This paper extends previous research by investigating the heterogeneity of IIs in terms of horizon, ownership and control. In addition, this paper sheds a new light on how family firms behave regarding tax avoidance practices in the presence of active and passive IIs.

The dissemination of misleading and false information through media can jeopardize a company’s reputation, thus posing a threat to its stock and performance. Institutional investors are known to influence capital markets. Therefore, this paper investigates whether institutional investors engage in shaping the media sentiment stock nexus, stabilize company stocks and enhance performance.

We first investigate the effect of media sentiment on market reactions by using panel regression models. To examine the role of institutional investors, we design a quasi-experiment by exploiting the Financial Crisis of 2008 and go further by examining the heterogeneity across levels of institutional ownership. Due to risk-averse, investors may respond asymmetrically to pessimistic and positive sentiment. Accordingly, we split the sample into two sub-types, good news and bad news, based on keywords representing positive or negative content.

We find supportive evidence that institutional investors have impacts on how the markets react to media news, and the impacts are heterogeneous in the face of bad and good news. We conjecture that institutional investors act as a stabilizer of stock prices through media sentiment management.

This paper confirms the distinctive effects of institutional investors on capital markets, and uncovers the behind-the-scenes intervention and possible causal link running from institutional investors to media sentiment management. It contributes to the broad field of institutional investors' behavior, media news involvement in capital markets and market efficiency.

The proliferation of non-fungible token (NFT)-based crypto-art platforms has transformed how creators manage, own and earn money through the creation, assets and identity of their digital works. Despite this, no studies have examined the drivers of continuous content contribution behavior (CCCB) toward NFTs. Hence, this study draws on the theory of relational bonds to examine how various relational bonds affect feelings of psychological ownership, which, in turn, affects CCCB on metaverse platforms.

Using structural equation modeling and importance-performance matrix analysis, an online survey of 434 content creators from prominent NFT platforms empirically validated the research hypotheses.

Financial, structural, and social bonds positively affect psychological ownership, which in turn encourages CCCBs. The results of the importance-performance matrix analysis reveal that male content creators prioritized virtual reputation and social enhancement, whereas female content creators prioritized personalization and monetary gains.

We examine Web 3.0 and the NFT creators’ network that characterizes the governance practices of the metaverse. Consequently, the findings facilitate a better understanding of creator economy and meta-verse commerce.

Common institutional ownership is a phenomenon that has extended throughout the capital markets in recent years and has a significant impact on business strategy decisions. The study intends to investigate the effect of common institutional ownership on corporate over-financialization and potential functioning mechanisms.

Using panel data from Chinese-listed companies over the period of 2003–2021, the authors conduct regression models which controlled year-, industry- and regional fixed effects to explore the impact of common institutional ownership on corporate over-financialization.

This study concludes that corporate over-financialization may be prevented via common institutional ownership. The mechanism test suggests that common institutional ownership inhibits corporate over-financialization by improving internal control quality and enhancing financial flexibility. Besides, heterogeneity analysis shows that the inhibiting effect of common institutional ownership on corporate over-financialization is more pronounced in stability-oriented institutional investors and high financing constraints firms.

This paper makes a valuable contribution to the current studies on effective strategies to prevent enterprises from becoming overly financialized by recognizing common institutional ownership. Furthermore, this paper adds to the research on common institutional ownership’s economic consequences. Finally, this study provides management implications for how to optimize corporate governance structures, curb the financialization of entities in practice and promote the development of the real economy.

The purpose of this study is to examine the impact of board characteristics (board size, board independence and duality) on the performance of takaful insurance providers with distinguishable muamalah contracts (wakalah and hybrid) moderated by ownership concentration.

The sample consists of 30 takaful insurances. The authors divided it into two subsamples: 18 insurance companies using wakalah contracts provided by Southeast Asia and 12 insurance companies using hybrid contracts provided by the Gulf Cooperation Council over the period 2010–2020. For data analysis, the authors used the partial least squares path modeling method.

The results show that the larger the board of directors and the higher the number of independent directors, the greater the takaful performance in both the wakalah and hybrid subsamples. Nondual functions improve the takaful performance in both the wakalah and hybrid subsamples. The results also reveal that a highly concentrated ownership structure positively (negatively) moderates the relationship between board size and takaful performance in the wakalah (hybrid) subsamples. Moreover, highly concentrated ownership insignificantly (negatively) moderates the relationship between independent directors and takaful’s performance in the hybrid (wakalah) subsample. Furthermore, a highly concentrated ownership structure insignificantly (negatively) moderates the relationship between the nondual structure and takaful performance in the wakalah (hybrid) subsample.

This study contributes to the understanding of the moderating role of a highly concentrated ownership structure between the characteristics of the board of directors and the performance of takaful insurance, which applies wakalah and hybrid contracts. In addition, this study contributes to takaful insurance by determining the appropriate board characteristics that must be adopted to achieve oversight and improve performance. Regulators should appreciate this contribution to the formulation of suitable approaches for efficiently supervising takaful insurance activities.

This study examines the impact of institutional ownership (IO) on firm performance. It also investigates whether powerful CEOs using a “CEO score index” moderate IO and firm performance nexus by drawing on insights from the agency and resource dependency theories.

Data were obtained from annual reports of companies listed on the Palestine Security Exchange from 2009 to 2019. Panel data regressions were conducted based on 528 observations. In addition, this study repeated the analysis using a one-step generalized method of moments (GMM) and two-stage least squares analysis to deal with the endogeneity issue.

Results show that IO and CEO power is positively associated with firm performance. Besides, it has been established that CEO power strengthens the relationship between IO and performance. Thus, this can be summarized that IO improves firm performance; however, with the powerful CEO intervention, the performance will improve even more.

Studying IO is timely given since the type of ownership is paramount to identify which form of a high degree of ownership affects the performance negatively, especially, in the Palestine environment which is dominated by institutional investors. This is of great importance to the investors as it will enable them to identify the type of firms to which they can commit their funds, and which firm excels through the CEO power. Besides, the inconsistency results in previous literature on IO, and firm performance indicates that there is an indirect effect that needs alternative explanations.

Applying universal ownership theory and drawing on a multiplecase study design, this study aims to analyze what drives institutional investors to engage with government entities and what challenges they find in the process.

The authors relied on document analysis and conducted 12 semi-structured interviews with representatives from asset owners, asset managers, investor associations and academia.

The authors identify a trend where investors conduct policy engagement to fulfill their fiduciary duty, improve investment risk management and create an enabling environment for sustainable investments. As for engagement challenges, investors report the longer-term horizon, a perceived limited influence toward governments, the need for capacity building for investors and governments, as well as the difficulty in accessing government representatives.

This research contributes to filling a gap in the literature on this new form of investor activism, as a growing number of investors engage with sovereign entities on environmental, social and governance issues.