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Article
Publication date: 11 October 2022

Fabian Maximilian Johannes Teichmann and Chiara Wittmann

This paper aims to examine the fundamental conditions which are necessary for the construction of a regulation which will affect a genuine advancement in the context of…

Abstract

Purpose

This paper aims to examine the fundamental conditions which are necessary for the construction of a regulation which will affect a genuine advancement in the context of environmental protection.

Design/methodology/approach

The component parts of an adequately built regulation are broken down to concretise the notion of efficacy – and its proposed universality – in a regulatory context. This paper takes a comparative approach of regulations and extends to include a consideration of the monitoring and enforcement of regulation as a necessary tenant of an effective regulation.

Findings

Sustainability regulations have seen a significant development in the 20th century. Notable remain the national discrepancies to so universal problem, as well as an inconsistent acknowledgement of the purpose of sustainability regulations beyond a tick-box compliance commitment.

Originality/value

The importance of sustainability has been amplified without a due consideration of what its translation into regulation must look like. This paper argues that no meaningful change can be lobbied without understanding how its practical implementation is performed.

Details

Journal of Financial Crime, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1359-0790

Keywords

Open Access
Article
Publication date: 20 September 2022

Liangyin Chen, Jun Huang, Danqi Hu and Xinyuan Chen

This paper aims to examine the effect of dividend regulation on cost stickiness (i.e. the asymmetric change in firm expense between sales increase and sales decrease) and…

Abstract

Purpose

This paper aims to examine the effect of dividend regulation on cost stickiness (i.e. the asymmetric change in firm expense between sales increase and sales decrease) and explore the underlying mechanism.

Design/methodology/approach

Based on the quasi-natural experiment of the Guideline for Dividend Policy of Listed Companies issued by the Shanghai Stock Exchange (SSE) in 2013, the authors employ a difference-in-difference model to investigate the impact of dividend regulation on cost stickiness.

Findings

The authors find that the cost stickiness of treatment group firms has decreased significantly when compared with control group firms after the dividend regulation. Moreover, this effect is more pronounced among firms in lower marketization regions, in lower competition industries and those with less analyst coverage and lower cash flow levels. Further analyses show that dividend regulation reduces the cost stickiness of firms by mitigating agency problems. Finally, the conclusion holds after several robust tests, including controlling for firm fixed effect, propensity score matching (PSM), placebo test and reconstruction of expense variable.

Originality/value

This paper confirms that dividend regulation serves an important role in corporate governance, which reduces firms' agency costs and thereby decreases cost stickiness. The conclusions shed light on the dividend policies of listed companies and capital market regulation in the future.

Details

China Accounting and Finance Review, vol. 24 no. 4
Type: Research Article
ISSN: 1029-807X

Keywords

Article
Publication date: 14 September 2022

Dongfang Wang, Arthur Tarasov and Huarong Zhang

The purpose of this paper is to test the relationship between environmental regulations and green total factor productivity (GTFP) of China's logistics industry. The…

Abstract

Purpose

The purpose of this paper is to test the relationship between environmental regulations and green total factor productivity (GTFP) of China's logistics industry. The high-factor input, high-energy consumption, and high-pollution emissions model of the logistics industry developed within China faces challenges from severe resource and environmental constraints. It is generally believed that environmental regulations effectively restrain pollution emissions and help protect the environment.

Design/methodology/approach

The authors employ the undesirable slack-based Malmquist Luenberger model to calculate the GTFP across the provincial logistics industry and use the mediation effect model and threshold effect model to explore the effects and mechanics of environmental transmission regulations on the GTFP.

Findings

The main results show significant regional differences in the GTFP of logistics industry across China. In the transmission path of the impact of environmental regulations on the GTFP, regional innovation capabilities have mediation effects. Regional innovation capacities have a masking effect on the transmission path of environmental regulations on accumulated technical efficiency changes (AEC) and accumulated technical changes (ATC). The threshold effect test results show a dual-threshold effect between environmental regulations and the GTFP, with environmental regulations as threshold variable. Furthermore, the impact of regional innovation capability on the GTFP has a dual-threshold effect, with environmental regulation as threshold variable.

Practical implications

First, it is advisable to plan the environmental regulation policy system thoroughly and add supporting measures to ensure the efficiency and smooth implementation of the nation's environmental policies. Second, it is important to further understand the critical role of innovation capability in improving the GTFP. Third, there is an urgent need to standardize the operating behavior and market order of the leading players in the logistics market and to improve the operational efficiency of logistics enterprises.

Originality/value

So far, a systematical study researched on effect of environmental regulation on the GTFP in logistics industry was not published. This study can provide experience for the high-quality development of the logistics industry.

Details

Kybernetes, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0368-492X

Keywords

Article
Publication date: 1 January 1971

The Secretary of State for Social Services, in conjunction with the Treasury and with the concurrence of the Commissioners of Inland Revenue, in exercise of powers under…

Abstract

The Secretary of State for Social Services, in conjunction with the Treasury and with the concurrence of the Commissioners of Inland Revenue, in exercise of powers under sections 11(3), 14(1), 15, 59(8), 74(2) and 95(12) of the National Insurance Act 1965, and of all other powers enabling him in that behalf, after considering the report of the National Insurance Advisory Committee on the preliminary draft submitted to them in accordance with section 108 of that Act and for the purpose of consolidating the regulations hereby revoked, hereby makes the following regulations:—

Details

Managerial Law, vol. 9 no. 4
Type: Research Article
ISSN: 0309-0558

Article
Publication date: 1 January 1971

The Secretary of State for the Environment, after consulting with the Advisory Committee established under the Radioactive Substances Act 1948, makes these regulations in…

Abstract

The Secretary of State for the Environment, after consulting with the Advisory Committee established under the Radioactive Substances Act 1948, makes these regulations in exercise of his powers under Section 5(2) and (3) of that Act, and under the Radioactive Substances Act 1948 Appropriate Minister Designation (No. 2) Order 1964, and of all other enabling powers:—

Details

Managerial Law, vol. 9 no. 4
Type: Research Article
ISSN: 0309-0558

Article
Publication date: 1 December 1967

The Minister of Social Security, in exercise of the powers conferred by sections 38(3), 39, 40(4), 41, 42, 50 and 54 of the National Insurance (Industrial Injuries) Act…

Abstract

The Minister of Social Security, in exercise of the powers conferred by sections 38(3), 39, 40(4), 41, 42, 50 and 54 of the National Insurance (Industrial Injuries) Act 1965, and section 75(2) of the National Insurance Act 1965, as amended by sections 8 and 9 of the National Insurance Act 1966, and of all other powers enabling her in that behalf and for the purpose only of consolidating the regulations hereby revoked, after consultation with the Council on Tribunals, hereby makes the following regulations:—

Details

Managerial Law, vol. 3 no. 3
Type: Research Article
ISSN: 0309-0558

Article
Publication date: 31 July 2014

Paul Gillis, Richard Petty and Roy Suddaby

The authors expect major shifts in thinking about the transnational regulation of accounting and how it will develop. This is a time for ideas as well as action. The…

2406

Abstract

Purpose

The authors expect major shifts in thinking about the transnational regulation of accounting and how it will develop. This is a time for ideas as well as action. The global accounting profession must take a leading role in developing and presenting the case for the transnational regulation of accounting, in identifying new regulations, new ways of regulating, and new compacts between regulators and other stakeholders, and in framing the debate on the transnational regulation of accounting into the future. The academic community must bring intellectual rigor to thinking on the issues. The purpose of this paper is to put the case that there is a new research agenda to be formed by taking a view that combines existing work on the transnational regulation of accounting with a contemporaneous understanding of the forces for regulatory and professional change, and insight into the roles that various actors have assumed historically and will likely play going forward, so as to develop workable and sustainable models for the transnational regulation of accounting into the future.

Design/methodology/approach

This paper presents a view on why the transnational regulation of accounting is increasingly becoming more important and more relevant. The paper identifies several possible work streams and research questions, and also comments on the papers appearing in this AAAJ special issue.

Findings

The authors find that the transnational regulation of accounting is becoming more important and relevant and identify drivers of this. The authors also suggest that self-regulation comes from professionalization, that systems of professional self-regulation (or co-regulation) at the national level have been transformed into the systems of global self-regulation. Also there is a growing level of scholarly engagement with transnational regimes of accounting regulation and the emerging portrayal of such regimes as arenas characterized by multiple actors, agendas, and strategies of influence.

Originality/value

Promotes a greater awareness and understanding of the importance of the transnational regulation of accounting, showcases recent work that demonstrates the breadth and depth of what is being done and of what needs to be done in the transnational regulation of accounting, identifies some of the key issues and imperatives for the transnational regulation of accounting.

Details

Accounting, Auditing & Accountability Journal, vol. 27 no. 6
Type: Research Article
ISSN: 0951-3574

Keywords

Article
Publication date: 1 April 1998

David T Llewellyn

The FSA will become the most powerful financial regulator in the world as a single agency responsible for the regulation and supervision of the full range of financial…

Abstract

The FSA will become the most powerful financial regulator in the world as a single agency responsible for the regulation and supervision of the full range of financial services. While questions of institutional structure raise important issues, they are of second‐order importance compared with the general approach, style and intensity of regulation and supervision that regulators apply. The objective of the paper is to outline some general principles to guide the regulation and supervision of banks so as to maximise the probability of objectives being achieved, while at the same time minimising the potential costs.

Details

Journal of Financial Regulation and Compliance, vol. 6 no. 4
Type: Research Article
ISSN: 1358-1988

Article
Publication date: 1 October 1967

The National Insurance Joint Authority in exercise of powers conferred by sections 45, 50 and 99 of the National Insurance Act 1965, and the Minister of Social Security…

Abstract

The National Insurance Joint Authority in exercise of powers conferred by sections 45, 50 and 99 of the National Insurance Act 1965, and the Minister of Social Security, in exercise of powers conferred by sections 10, 49 and 102 and Schedule 11 paragraphs 17 and 18 of that Act and the National Insurance Act 1967 Schedule 7, in each case in consequence of the last‐mentioned Act and in conjunction with the Treasury so far as relates to matters with regard to which the Treasury have so directed, and in exercise of all other powers enabling them in that behalf, hereby make the following regulations:—

Details

Managerial Law, vol. 3 no. 1
Type: Research Article
ISSN: 0309-0558

Article
Publication date: 1 March 1967

Whereas in pursuance of Part I of Schedule 2 to the Mines and Quarries Act 1954 the Minister of Power has published notice of his intention to make the following…

Abstract

Whereas in pursuance of Part I of Schedule 2 to the Mines and Quarries Act 1954 the Minister of Power has published notice of his intention to make the following regulations and has not received any objection to the draft thereof in respect to which he is required to refer the draft regulations for inquiry and report:

Details

Managerial Law, vol. 1 no. 6
Type: Research Article
ISSN: 0309-0558

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