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This study investigates the convergence-of-interest and entrenchment effects on the relationship between managerial ownership and financial distress using evidence from the Chinese stock market. It also analyzes whether the relationship is mediated by research and development (R&D) investment.

Using a dataset consisting of 19,059 firm-year observations of Chinese listed companies in the Shanghai and Shenzhen Stock Exchanges between 2010 and 2020, this study employs both piecewise and curvilinear models.

The results indicate that managerial ownership has a negative association with firm financial distress in both the low (below 12%) and high (above 18%) convergence-of-interest regions of managerial ownership, suggesting that managerial ownership in this region may contribute to improve firm financial status. Meanwhile, managerial ownership has a positive association with firm financial distress in the entrenchment region (12–18%), implying that managerial ownership in the entrenchment region may contribute to impair firm financial status. Furthermore, the results show that R&D investment mediates the association between managerial ownership and financial distress.

This study is the first to provide evidence of a nonlinear relationship between managerial ownership and financial distress, and identify the entrenchment region in the Chinese setting.

It is critical for those who are engaged in the work of resisting the movement of academically restrictive policy to understand that it is a deliberate act on the part of conservatives to outlaw critical race theory (CRT) specifically, because it is a theoretical mechanism for discrediting the rhetorical foundations of their policy movement. The knee-jerk institutional courses of action to now defund initiatives and curriculum related equity, diversity and inclusion (EDI) represent what has always been a deeply rooted investment in white supremacy on the part of the institutions (Baldwin, 2021; Patel, 2021; Squire, 2021).

The author explores and defines the CRT tenets of interest convergence (Bell, 1980) and whiteness as property (Harris, 1993) in relation to EI (Fricker, 2007; Dotson, 2011) as frameworks for examining three EGOs in the region where these policies have become most dominant. All three are critical tools of analysis for understanding the stake the White conservative political elite have in EGOs, and the magnitude of EI these policies represent, and stand endorse in their rhetoric. Definitions of EI often rely on the work of Amanda Fricker’s (2013) text on the subject, but this paper is invested in the expansions of this theorization for speaking to the nature of the injustice that EGOs represent as a matter of historical trend, with grave implications for futures marked by continued oppression. Whiteness as property and interest convergence are points for explicating the dialectic and material aspects of issues of race and equity in this country; namely, how knowledge processes inherent to higher education sound even more alarms as EGOs become commonplace for college campuses.

To support the arguments laid out, the author provides a historical review of the settler-colonial foundations of higher education as an american institution. This is meant to provide contour to the image of postsecondary education that exists today. In accordance with this paper’s allegiance to CRT, many of the texts would be considered revisionist history (Delgado and Stefancic, 2023), which stray from dominant narratives of american comfort and speak more accurately to the experiences of minoritized populations. The author then applies the same analysis to the sociopolitical contexts of EGOs, and to policy language itself. Each section is closed with an explanation of its connection to tenets of CRT and EI so as to provide a thread to follow into the subsequent discussion section.

In the first presentation of the early writings of this work, the author was lucky enough to be in community with Barbara Applebaum at the annual meeting for the American Educational Studies Association and engage in discourse surrounding EI and CRT applications to EGOs. In conversations surrounding the will in the willful ignorance that is exemplified in the movement of EGOs, the author had shared with Dr Applebaum the early thinking on how that will was the same force that brought together converging interests, which have continually forecasted interest divergence. This is commonly referred to as “political backlash.” The author had said something along the lines of: “if we follow the interest convergence, we can get in front of the subsequent political moves to turn the clocks on what was once celebrates progress.” This conversation planted the seed for what is the thesis of this paper. Interest convergence and divergence happen at the will of white populations because of the american truth of whiteness as property. In the context of higher education, this means that because educational pursuit has largely been white property, it has served as an arena for white populations to converge and diverge their interests with those of the minoritized. For example, the policies that drained federal funding for higher education in the 1970s were passed on the tails of a Civil Rights Movement that shook the very foundation of this country and expanded access to postsecondary education for racially minoritized groups (Berret, 2015).

Ensuring that this social construction is a matter of status quo has largely been the work of postsecondary institutions, and EGOs represent the most recent attempt at epistemically imposed inferiority. Explicit attention to the fact of higher education’s complicity and overall investment in the socialization of oppression is necessary to engage in transformative practice that resists anachronism. If higher education researchers and practitioners do not recognize the stake in both the presence and resistance to EGOs, there would likely be acts of resistance that will belie an act of interest convergence – and later divergence – on the part of the state.

The aim of this chapter is to examine the nominal and real convergence of Czechia. The importance of the convergence of Czechia with the euro area is linked to the future intention of joining the Economic and Monetary Union after the Maastricht criteria are met. This chapter covers the period from 2004 to 2021. We argue that nominal convergence is relative to the Maastricht criteria, when real convergence focuses on different areas: the Maastricht criteria, gross domestic product (GDP) per capita in purchasing power standards and real GDP growth rate, labour market (minimum labour costs and unemployment rates. Findings suggest that Czechia has reported the strongest real convergence in the area of relative economic level, moderate convergence of labour costs and divergence of unemployment. The nominal convergence analysis suggests that Czechia will not meet the Maastricht benchmarks in the near future and is not ready to join the euro area given its high inflation rate and the state of public finances.

Research on the effect of executive equity incentives is equivocal. Based on agency theory, some scholars take the convergence of interest logic to highlight the benefits of executive equity incentives. In contrast, others adopt the entrenchment logic to emphasize the increased agency costs. This study attempts to reconcile the debate on executive equity incentives and integrates the opposing views to unveil how executive equity incentives impact corporate social responsibility (CSR) performance.

Using the panel dataset of Chinese A-share listed firms from 2006 to 2022, this study integrates the convergence of interest and entrenchment logic to examine how executive equity incentives affect CSR performance.

We find that the relationship between executive equity incentives and CSR performance follows an inverted U-shaped form. According to the convergence of interest logic, executive equity incentives reduce agency costs when allocating resources to engage in CSR activities and enable firms to increase their CSR investments, ultimately realizing increased CSR performance. After a threshold, however, the accumulation of extensive equity incentives causes the entrenchment effect, resulting in declined CSR performance. Our empirical results also shed new light on its contingent perspective – the inverted U-shaped relationship is attenuated when firms’ stock liquidity is high.

This study attempts to reconcile the debate on executive equity incentives and integrates the opposing views to unveil the inverted U-shaped relationship between executive equity incentives and CSR performance. Our study opens promising avenues for further research on corporate governance and CSR strategies.

Legislators continue to label Critical Race Theory (CRT) and other race-based concepts as divisive. Nevertheless, CRT, at its core, is committed to radical transformation and addressing issues of race and racism to understand how People of Color are oppressed. Through rhetoric and legislative bans, this current anti-CRT movement uses race-neutral policies and practices to limit and eliminate CRT scholars, especially faculty members, from teaching and researching critical pedagogies and other race-based topics.

Through semi-structured interviews using Critical Race Methodology (CRM), the authors sought to understand how 40 faculty members challenged the dominant narratives presented by administrators through their responses to CRT bans. Additionally, this work aimed to examine how administrators’ responses complicate how faculty make sense of CRT bans.

Findings describe three major themes: (1) how administrators failed to respond to CRT bans, which to faculty indicated their desire to present a neutral stance as the middle ground between faculty and legislators; (2) the type of rhetoric administrators engaged in exemplified authoritarian approaches that upheld status quo narratives about diversity, exposing their inability to stand against oppressive dominant narratives; and (3) institutional leaders’ refusal to address the true threats that faculty members faced reinforced the racialized harm that individuals engaging in CRT work must navigate individually.

This study is one of the few that provide empirical data on this current anti-CRT movement, including problematizing the CRT bans, and how it affects campus constituents such as faculty members.

This study explores a hegemonic alliance and the role of relational forms of accounting and accountablity in the making of contemporary capitalism.

We use the WikiLeaks “Cablegate” documents to provide an account of the detailed machinations between interest groups (corporations and the state) that are constitutive of hegemonic activity.

Our analysis of the “Cablegate” documents shows that the US and Chevron were crafting a central role for Turkmenistan and its president on the global political stage as early as 2007, despite offical reporting beginning only in 2009. The documents exemplify how “accountability gaps” occlude the understanding of interdependence between capital and the state.

The study contributes to a growing idea that official accounts offer a fictionalized narrative of corporations as existing independently, and thus expands the boundaries associated with studying multinational corporate activities to include their interdependencies with the modern state.

The study traces how global capitalism extends into new territories through diplomatic channels, as a strategic initiative between powerful state and capital interests, arguing that the outcome is the empowerment of authoritarian states at the cost of democracy.

The study argues that previous accounting and accountability research has overlooked the larger picture of how capital and the state work together to secure a mutual hegemonic interest. We advocate for a more complete account of these activities that circumvents official, often restricted, views of global capitalism.

This study aims to examine the influence of ownership structure and board characteristics on the performance of Indonesian Islamic rural banks (IRB) using the system generalized method of moment model.

This research uses Indonesian IRB unbalanced annual panel data from 2016 to 2022. IRB performance is measured by return on assets (ROA), return on equity (ROE) and nonperforming financing (NPF). The ownership structure is represented by controlling shareholders, ownership of the board of directors (BD) and ownership of the board of commissioners (BC). Meanwhile, board characteristics are represented by the size of the BC, the proportion of female board directors and female president directors.

The results show that the ownership structure and board characteristics play an important role in improving the IRB’s performance. Technically, the results show that the size of the BC and the ownership of the BD increase all IRB performance measures. Female president directors and controlling shareholders improve IRB’s performance as measured by ROA and ROE. Women’s boards of directors improve IRB performance as measured by NPF. Meanwhile, the ownership of the BC does not show its effect on all IRB performance measures.

This study fills a literature gap on the influence of ownership structure and board characteristics on IRB Indonesia’s performance. In addition, it adds understanding and insight for Islamic bank regulators, management and IRB depositors in Indonesia.

To the best of the authors’ knowledge, this study is one of the first to provide an empirical survey on the influence of controlling shareholders and board characteristics on IRB performance, particularly in Indonesia.

This research focuses on the Metaverse's evolving trend and the potential application of blockchain technology in the accounting of virtual assets in this digital domain. The Metaverse introduces a new economy in which users may earn real-world revenue through virtual activities, necessitating the need for efficient and dependable virtual asset accounting. Blockchain technology, with its decentralized and immutable record, appears to be a viable answer to these problems. This chapter discusses the present status of blockchain technology for accounting for virtual assets in the Metaverse as well as its potential role for businesses and the economy. It also determines the technology's issues and limits and makes recommendations for further development. The findings indicate that blockchain technology has the potential to transform virtual asset accounting in the Metaverse by improving security, transparency, and consistency. However, scalability and legal/regulatory issues must be overcome before it can completely achieve its promise. Accounting experts, developers, and stakeholders interested in the convergence of blockchain technology and the Metaverse economy will find this chapter useful.