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This chapter aims to explore the Shari’ah governance rules applied in the Malaysian Islamic banking arena and the effect of Islamic Financial Services Act 2013 on it.
Abstract
Purpose
This chapter aims to explore the Shari’ah governance rules applied in the Malaysian Islamic banking arena and the effect of Islamic Financial Services Act 2013 on it.
Design/Methodology/Approach
This is a legal exploratory study primarily focused on library research.
Findings
Shari’ah governance is a concept that has been developed and applied gradually in Malaysia and the new Islamic Financial Services Act 2013 has taken it to the next level. However, this does not mean that it has resolved the problems in Shari’ah governance that existed before the enactment of the act.
Originality/Value
Islamic Financial Services Act 2013 is a new statute that repealed Islamic Banking Act 1983. As such, not many have reviewed this new piece of legislation. This chapter will give insight into the evolution of Shari’ah governance as part of corporate governance of Islamic banks in Malaysia and will help explain the most recent developments in this arena along with the challenges.
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The governance of family businesses has attracted considerable scrutiny among scholars and practitioners. This paper explores influences that have defined corporate governance…
Abstract
Purpose
The governance of family businesses has attracted considerable scrutiny among scholars and practitioners. This paper explores influences that have defined corporate governance practices in family firms in the last century and reflects on the possible direction of research and practice in the next century.
Design/methodology/approach
This manuscript undertakes a literature review of past and recent literature investigating corporate governance practices within family businesses.
Findings
The evolution of corporate governance in the family business literature is underpinned by centralised decision-making structures, the need to overcome fundamental corporate governance challenges, the increasing relevance of family governance models and the recognition and adoption of contemporary trends in the corporate governance space. The review also suggests that corporate governance and family business research in the next century will be dominated by technology-based governance, sustainable governance, globalisation and the validation for multi-board structures, greater attention to succession planning and diversity, and channelling significant resources to innovation.
Originality/value
The paper synthesises developments in the corporate governance–family business literature and proposes a future perspective.
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Mathew Tsamenyi and Shahzad Uddin
Purpose of paper – This paper sets out to introduce the special issue on corporate governance in less developed and emerging economies. It summarises and reflects on themes and…
Abstract
Purpose of paper – This paper sets out to introduce the special issue on corporate governance in less developed and emerging economies. It summarises and reflects on themes and findings raised in the papers in the volume.
Design/methodology/approach – The findings reported in the paper are based on desk research and review of the papers contained in the volume.
Findings – The paper finds that the adoption of appropriate corporate governance systems is becoming a central issue in less developed and emerging economies. Factors such as the 1997 Asian financial crisis, the adoption of international donor led reforms, and the globalisation of capital markets are among the factors that are driving corporate governance reforms in less developed and emerging economies.
Research limitations/implications – The pressure from international donors has compelled some less developed and emerging economies to adopt corporate governance models developed in the West with no modification. The paper argues that while it is imperative for less developed and emerging economies to reform their corporate governance systems, it is important that these systems are adapted to suite the specific needs of individual countries.
Originality/value of paper – The paper is a summary of studies exploring various corporate governance issues in less developed and emerging economies. The issues addressed in these studies are important to understand corporate governance issues in both the private and public sectors in less developed and emerging economies.
The aim of this article is to describe and analyze the legal issues of enforcement for corporate governance in Vietnam, focusing primarily on constraints that are faced by…
Abstract
The aim of this article is to describe and analyze the legal issues of enforcement for corporate governance in Vietnam, focusing primarily on constraints that are faced by companies. And subsequent recommendations to Vietnam's policy makers are raised. In support of working out a legal framework on enforcement of corporate governance, the article has initially focused on assessment of the enforcement for corporate governance in Vietnam. The theoretical framework is that of OECD Principles of Corporate Governance (April 1999, Paris). Furthermore, this article briefly raises some relevant impacts by corporate governance enforcement on compliance with best standards of corporate governance. The article also addresses current impediments on enforcement of corporate governance. It is concluded that enforcement of corporate governance requires making the legal framework perfect to assist inspectors with enforcement of corporate governance; and improvements on the legal framework to enhance the capacity of implementing officials is a need.
This study aims to (1) validate the efficacy of contractual and relational governance in enhancing operational performance and (2) explore the influence of product complexity on…
Abstract
Purpose
This study aims to (1) validate the efficacy of contractual and relational governance in enhancing operational performance and (2) explore the influence of product complexity on the effectiveness of these governance mechanisms, thereby determining the optimal approach for varying levels of product complexity.
Design/methodology/approach
By utilizing a comprehensive theoretical framework encompassing transaction cost economics, social exchange theory and contingency theory, this research explores the intricate interplay between governance mechanisms, product complexity and operational performance, drawing insights from a dataset comprising 246 responses within Mainland China’s manufacturing sector. To rigorously test the proposed hypotheses, this study employed a hierarchical regression analysis.
Findings
The findings of this study are summarized as follows: (1) while both contractual governance and relational governance have a significant impact on operational performance, relational governance is found to be more effective than contractual governance in enhancing operational performance; and (2) the moderation effect of product complexity is evident, as it weakens the impact of contractual governance while simultaneously enhancing the positive influence of relational governance on operational performance.
Originality/value
The study uncovers a moderation effect of product complexity on the relationship between governance mechanisms and operational performance. This finding adds an original contribution to the literature by highlighting how product complexity can interact with governance strategies, providing practical insights for industries dealing with varying levels of product complexity.
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Ankita Bedi and Balwinder Singh
This study aims to determine the influence of corporate governance characteristics on carbon emission disclosure in an emerging economy.
Abstract
Purpose
This study aims to determine the influence of corporate governance characteristics on carbon emission disclosure in an emerging economy.
Design/methodology/approach
The study is based on S&P BSE 500 Indian firms for the period of 6 years from 2016–2017 to 2021–2022. The panel data regression models are used to gauge the association between corporate governance and carbon emission disclosure.
Findings
The empirical findings of the study support the positive and significant association between board activity intensity, environment committee and carbon emission disclosure. This evinced that the board activity intensity and presence of the environment committee have a critical role in carbon emission disclosure. On the contrary, findings reveal a significant and negative relationship between board size and carbon emission disclosure.
Practical implications
The present study provides treasured insights to regulators, policymakers, investors and corporate managers, as the study corroborates that various corporate governance characteristics exert significant influence on carbon emission disclosure.
Originality/value
The current research work provides novel insights into corporate governance and climate change literature that good corporate governance significantly boosts the carbon emission disclosure of firms. Previous studies examining the impact of corporate governance on carbon emission disclosure ignored emerging economies. Thus, the current work explores the role of governance mechanisms on carbon emission disclosure in an emerging context. Further, to the best of the author’s knowledge, the current study is the first of its kind to investigate the role of corporate governance on carbon emission disclosure in the Indian context.
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The growing importance of environmental, social and governance (ESG) issues, as well as related performance planning, measuring and reporting, has spurred interest in linking…
Abstract
Purpose
The growing importance of environmental, social and governance (ESG) issues, as well as related performance planning, measuring and reporting, has spurred interest in linking corporate sustainability and performance management systems (PMSs). In this context, the aim of this paper is to provide companies with a framework for implementing the requirements of the corporate sustainability reporting directive (CSRD) through a sustainability balanced scorecard (SBSC). The framework will further the integration of sustainability with corporate governance.
Design/methodology/approach
The framework was grounded in the relevant literature and the CSRD requirements.
Findings
This paper provides companies with a novel framework for implementing the requirements of the CSRD through a SBSC. The framework specifies four key steps (i.e. identifying material themes, initial assessment, strategic formulation and action, and sustainability reporting) to integrate sustainability with corporate governance.
Practical implications
The framework supports managers’ decision-making processes in linking sustainability with strategy and providing a basis for integrating sustainability with corporate governance in organizations. The paper provides a way to practically address the CSRD requirements.
Originality/value
This is the first study integrating the emerging CSRD requirements with corporate governance. The paper advances discussion and debate by management scholars on how a SBSC can be practically implemented, providing details on how this may be achieved.
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Yuri Gomes Paiva Azevedo, Mariana Câmara Gomes e Silva and Silvio Hiroshi Nakao
The purpose of this study is to examine the moderating effect of an exogenous corporate governance shock that curbs Chief Executive Officers’ (CEOs) power on the relationship…
Abstract
Purpose
The purpose of this study is to examine the moderating effect of an exogenous corporate governance shock that curbs Chief Executive Officers’ (CEOs) power on the relationship between CEO narcissism and earnings management practices.
Design/methodology/approach
The authors performed a quasi-experiment using a differences-in-differences approach to examine Brazil’s duality split regulatory change on 101 Brazilian public firms during the period 2010–2022.
Findings
The main findings indicate that the introduction of duality split curtails the positive influence of CEO narcissism on earnings management, suggesting that this corporate governance regulation may act as a complementary corporate governance mechanism in mitigating the negative consequences of powerful narcissistic CEOs. Further robustness checks indicate that the results remain consistent after using entropy balancing and alternative measures of CEO narcissism.
Practical implications
In emerging markets, where governance systems are frequently perceived as less than optimal, policymakers and regulatory authorities can draw insights from this enforcement to shape governance systems, reducing CEO power and, consequently, improving the quality of financial reporting.
Originality/value
To the best of the authors’ knowledge, this is the first study to examine whether a duality split mitigates the influence of CEO narcissism on earnings management. Thus, this study contributes to the corporate governance literature that calls for research on the effectiveness of external corporate governance mechanisms in emerging markets as well as the CEO narcissism literature that calls for research on moderating factors that could curtail negative consequences of narcissistic CEO behavior.
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This study aims to explore the relationship between risk governance characteristics (chief risk officer [CRO], chief financial officer [CFO] and senior directors [SENIOR]) and…
Abstract
Purpose
This study aims to explore the relationship between risk governance characteristics (chief risk officer [CRO], chief financial officer [CFO] and senior directors [SENIOR]) and regulatory adjustments (RAs) in Organization for Economic Cooperation and Development public commercial banks.
Design/methodology/approach
Using principal component analysis (PCA) and regression models, the research analyzes a representative data set of these banks.
Findings
A significant negative correlation between risk governance characteristics and RAs is found. Sensitivity analysis on the regulatory Tier 1 capital ratio and the total capital ratio indicates mixed outcomes, suggesting a complex relationship that warrants further exploration.
Research limitations/implications
The study’s limited sample size calls for further research to confirm findings and explore risk governance’s impact on banks’ capital structures.
Practical implications
Enhanced risk governance could reduce RAs, influencing banking policy.
Social implications
The study advocates for improved banking regulatory practices, potentially increasing sector stability and public trust.
Originality/value
This study contributes to understanding risk governance’s role in regulatory compliance, offering insights for policymaking in banking.
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By providing an overview of the existing knowledge on public governance in the context of Construction 4.0, this review serves as a valuable resource for researchers, policymakers…
Abstract
Purpose
By providing an overview of the existing knowledge on public governance in the context of Construction 4.0, this review serves as a valuable resource for researchers, policymakers and practitioners interested in understanding the current state of public governance in the context of Construction 4.0 and identifying avenues for future research and practical implementation.
Design/methodology/approach
This article presents a systematic and comprehensive review of the academic literature on public governance in the context of Construction 4.0. To ensure a systematic and rigorous selection of source material, the study adopts the Preferred Reporting Items for Systematic Reviews and Meta-Analyses guidelines.
Findings
By examining a wide range of scholarly works, the review identifies and discusses eight recurring themes that are crucial for understanding the role of public governance in Construction 4.0. These themes include policy and regulation, infrastructure and investment, skill development and education, digital inclusion and access, collaboration and partnerships, data governance and privacy, interactions with environmental and societal goals and the impact of Construction 4.0 on public governance itself. The review highlights a significant disparity between the normative debates on the importance of public governance in Construction 4.0 and the empirical knowledge available regarding its practical implementation. While the literature emphasizes the need for effective governance mechanisms to address the challenges and opportunities presented by Construction 4.0, there is a notable lack of empirical research examining the actual implementation and outcomes of public governance strategies.
Originality/value
This is the first systematic review of academic literature on public governance in the context of Construction 4.0.
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