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This paper aims to analyze the thematic content of research addressing the relation between board of directors (BoD) and business transformation (BT) to obtain better understanding of status and to derive future areas of study.

This paper reviews literature through a bibliometric analysis based on co-occurrence of articles published in Web of Science Core Collection ™ (WoS) between 1990 and 2022, identifying key concepts, setting network of relations and identifying the strategic importance of clusters of concepts. Findings and implications are discussed, future lines of research are presented and limitations are noted.

Thematic research on boards addressing transformation shifted from the analysis of individuals' traits to an organizational approach with majority of research centered on the role of boards under different theories and the consequences of strategic changes on firm's performance. Further research is around gender diversity, sustainability and the moderating role of ownership structure and business culture.

Some limitations are also noted. This analysis considered articles indexed by WoS for Q1+Q2 publications as source of literature, while including others such as Scopus would increase knowledge base. Also, to identify main streams of research, the authors considered keywords with cumulative occurrence spanning from 30% to 40% while increasing this percentage would add terms that might improve precision to the connections among keywords. Other techniques could have been used such as co-citation or bibliographic coupling, although the authors find these as better suited to investigate the basic structure behind the foundational knowledge of the topic while the authors’ intention was to understand the positioning of study fields regarding the degree of research progress.

This paper presents some practical implications for future researchers. Those who wish to leverage previous evidence to address new research questions might look into principal themes covering BoD dynamics and composition to exert CG, and the relation between strategic decisions and performance measured by different variables. Those who wish to position their research as new findings to shed light on dilemmas, might find opportunities in the fields of climate change-sustainability, R&D for growth and innovation under the perspective of intangible assets.

This paper, is the first to the best of the authors’ knowledge, to identify research clusters for the intersection of boards and transformation and to determine their stage of development.

本文旨在分析探討董事會與業務轉型之間的關係的學術研究的專題內容，以能對有關課題的研究狀況有更深入的了解，並擬從分析中取得未來可供研究的範疇。

本文透過科學計量分析法來進行文獻探討。方法乃基於在1990年至2022年期間在Web of Science Core Collection 刊載的學術論文的共現分析而進行; 透過這個研究方法，研究人員建立了聯繫的網絡，並確認了各個概念群組的策略重要性。在本文中，研究結果和研究結果帶來的啟示會被討論，未來的研究領域和方針也會得到說明，研究的局限也會被認定和記錄下來。

探討董事會而又涉及業務轉型的專題研究，由當初集中探討董事個人的特質、轉移到現在研究整體的組織理念和處事取向，而就後者來說，大部份的研究都集中於在不同的理論框架裡董事會所扮演的角色，以及因策略上的改變而為公司的業績帶來的影響。進一步的學術研究都是圍繞著性別多元化、可持續性、所有權結構所扮演的緩和角色和商業文化的研究。

盡我們所知，本文乃為首篇學術論文，去鑑定關於董事會與業務轉型之間的關聯的研究集群，也是首篇學術論文，去確定這些研究集群的發展階段。

This study investigates the relationship between media and social media sentiment and the likelihood of CEO pay cuts. The purpose is to examine whether and how these pay cuts influence market reactions. The study aims to provide insights into how external sentiment affects corporate decision-making and market perceptions, particularly in the context of CEO compensation.

Using a sample of 6,331 firm-year observations from 2015 to 2021, this paper employs quantitative analysis to assess the association between media and social media sentiment and CEO pay cuts. We utilise company DEF14A SEC filings to identify CEO pay cut dates and capture traditional media and Twitter sentiment 30-days prior to these filing dates.

We find a negative association between media and social media sentiment and CEO pay cuts, indicating that firms facing more negative sentiment are more likely to engage in pay cuts. We find evidence that CEO pay cuts are negatively correlated with market reactions, suggesting markets generally do not seem to favour decisions to cut CEO pay. This relationship, however, is complex and influenced by multiple factors, including the nature of sentiment and the specific components of CEO compensation.

The study faces limitations in identifying the varying degrees of pay cuts and their motivations. Additionally, the content of news articles and Twitter posts used to measure sentiment was not specifically identified, which may affect the accuracy of sentiment measurement.

This research offers valuable insights for managers and corporate decision-makers, highlighting the potential impact of public sentiment on critical executive compensation decisions.

The study underscores the influence of media and social media in shaping public opinion and driving corporate actions, highlighting the growing intersection between social perceptions and corporate governance. This has broader implications for how firms engage with media platforms and manage their public image, particularly in the realm of executive compensation.

We are the first to study the impact of media and social media sentiment on CEO compensation decisions and market reactions. By employing DEF14A filings as event dates for market reaction studies, we offer a novel approach to analysing the impact of executive compensation changes on market behaviour.

This study aims to address gaps and limitations in the literature on corporate governance and stock liquidity. It explores the potential benefits of increasing female representation in corporate leadership, which has been a subject of debate and policy intervention in recent years.

Based on prior empirical studies and by integrating the insights of different theories, this study links gender diversity to stock liquidity and uses a multivariate panel regression approach.

The results show that gender diversity, both on the board and in executive positions, positively and consistently affects stock liquidity across different business cycles. The findings reinforce the notion that diverse executive leadership is crucial and influential irrespective of the prevailing economic conditions.

This study has practical implications for investors, managers and policymakers who are interested in the benefits of gender diversity in corporate leadership. It suggests that increasing the percentage of female executives and board members can improve stock market liquidity, which is a key indicator of market efficiency and firm value.

This study advocates for gender equality and diversity in corporate leadership, which can benefit society. It demonstrates that the presence of women directors can enhance financial stability and thus benefit the stakeholders and the community.

This study contributes to the academic literature by examining the impact of gender diversity on board and executive levels on stock liquidity in the US market. Previous research on this topic has mainly relied on French or Australian data. Moreover, this study extends previous work through examining the case of executives’ gender diversity. To the best of the authors’ knowledge, this study is the first to analyze the relationship between gender diversity and stock liquidity across different business cycles, providing a nuanced understanding of how economic contexts affect this relationship.

Research and development (R&D) is a vital strategy for firms to sustain their competitive locus and profitability in the global marketplace. Therefore, the existing research is engrossed in the correlation between firm performance (FP) and R&D intensity (RDI) meta-analysis. It also examined the ‘Type of Firm’ as a moderator in this relationship.

This study is motivated by its potential to address existing knowledge gaps, guide decision-making, influence policy and contribute to advancing theoretical and practical insights in the domain of business, economics and innovation.

This study is based on the secondary data. The researcher uses ‘Meta- Essentials 1.5’ for meta-analysis covering the studies of developed and emerging economies from 1985 to 2022.

The outcome conveys a small effect of magnitude between RDI and FP. It also indicates the positively significant linkage between them, directing that investing in R&D projects leads to improvement in the performance of companies. It also points out that private firms engaging in R&D activities have a negative while public firms have a positive correlation with their performance.

Understanding this linkage is imperative as it aids managers in making strategic decisions, the government in funding research-related schemes and investors in choosing R&D projects for investment.

This paper aims to investigate the association between negative tone in annual report narratives and future performance in the UK context. Under the principle-based approach in the UK, managers tend to bias the tone of narrative reports upward, as the reporting regime is more flexible than the rule-based approach in the USA. Consequently, any negative disclosure not mandated by regulators conveys credible information about a firm’s prospects.

This paper uses a sample of UK FTSE all-share non-financial companies from 2010 to 2019. The authors use the textual-analysis approach based on Loughran and McDonald (2011)’s wordlist (LM) to measure the negative tone in UK annual reports.

The results show a significant negative association between negative tone and future performance. Moreover, our further analyses suggest that only the negativity in the executive section of the annual disclosures correlates significantly with future performance. In summary, this study suggests that negativity does matter under the principle-based approach and can be used as an indicator of future performance.

In contrast to the literature arguing that only positivity has the power to affect a firm’s outcomes under the principle-based approach, the authors provide new empirical evidence suggesting that negativity also matters within the UK context and can be used as an indicator for future performance. Also, to the best of the authors’ knowledge, this is the first study to identify which section of the annual report is more informative about a firm’s future performance.

This study aims to investigate whether there is a relationship between the religiosity levels of chairpersons’ hometowns and the financial reporting quality of companies.

Using a unique hand-collected data set obtained from various sources, the authors use ordinary least squares and logistic regressions to test the hypotheses and further implement various methods to address potential issues such as omitted variables, reverse causality and selection bias problems. In addition, the authors control for the religiosity level of chief executive officers’ (CEOs) hometowns. Finally, the authors divide the sample into two subsamples – companies with strong corporate governance and companies with weak corporate governance – to investigate the effect of chairpersons’ hometown religiosity on financial reporting quality under strong or weak corporate governance.

The findings demonstrate that companies with chairpersons from religious hometowns produce high-quality financial reports. Additional tests, such as the Heckman selection model and instrument variable regression, confirm the robustness of the main results. Controlling for the religiosity level of the CEO’s hometown yields consistent findings with the main results. Finally, additional results indicate that the religiosity levels of chairpersons’ hometowns play a significant role in enhancing financial reporting quality in companies with weak corporate governance.

Companies should consider appointing board members or chairpersons from more religious hometowns, as the empirical results of this study support the positive effects of chairpersons’ hometown religiosity on financial reporting quality.

To the best of the authors’ knowledge, the current study is among the first to demonstrate the relationship between the religiosity level of the chairpersons’ hometown and the financial reporting quality of companies. The study introduces unique hometown religiosity proxies and controls for various variables related to corporate governance, chairperson attributes, company characteristics, and audit firm characteristics.

We review and synthesize the existing research on directors' and officers’ (D&O) liability insurance. Our objectives are (1) to examine the institutional forces and regulatory requirements that have influenced the development of D&O liability insurance; (2) to identify the factors that influence firms to purchase D&O liability insurance and explore the consequences associated with its usage and (3) to identify gaps in the current literature and provide recommendations for future research on D&O liability insurance.

We perform a systematic literature review (SLR) using the Preferred Reporting Items for a Systematic Review of Meta-Analysis (PRISMA) guidelines to examine archival studies that investigate the determinants and consequences of D&O liability insurance. Using a Boolean search strategy on the “Web of Science” (WoS) and PRISMA selection criteria, we review 64 published archival research articles and three working papers from 1987 to October 2023.

Our review reveals that disclosing detailed information regarding D&O liability insurance, such as total insurance premiums and coverage limit, is predominantly voluntary, except in Taiwan. Our findings suggest that the decision to purchase D&O liability insurance is influenced by litigation risk, which is determined by factors such as firm size, complexity and corporate governance variables. We also find that D&O liability insurance has implications for financial reporting, audit outcomes, investment behavior and capital market performance.

In the post-COVID era, where firms face pressure due to financial constraints, our research emphasizes the practical importance of carefully considering and understanding the impact of D&O liability insurance, particularly as it concerns the demand for such insurance.

To the best of our knowledge, this study represents the first systematic review of previous research on D&O liability insurance. Our review highlights some research gaps, particularly in relation to the implications for financial reporting practices, auditing outcomes, firm investment behavior and capital market consequences.

This paper aims to investigate the impact of corporate governance mechanisms and the environmental, social and governance (ESG) disclosure score on bank performance and financial stability. Further, this paper analyses how this relationship varies over the different ownership structures.

The paper uses a sample of 41 Indian banks (including both public sector and private sector banks) over the period ranging from 2008 to 2020. The data is analyzed in both static and dynamic frameworks using panel regression and system generalized methods of moments.

The results indicate that the frequency of board meetings has a negative influence on the performance of the banks. Gender diversity reveals both linear and non-linear relationships with bank performance. In the sample of public sector banks, the board size and promoters’ ownership have a significant negative effect on the bank's performance. In private sector banks, CEO duality adversely affects performance. Further, the results indicate that ESG disclosure score is positively linked with the profitability of banks.

This paper provides a comprehensive analysis of the impact of corporate governance mechanisms and ESG disclosure scores on bank performance and stability in the context of the Indian economy. To the best of the authors’ knowledge, there has been no empirical investigation or study that has been conducted in this respect.

This study aims to examine the prevalence of transfer pricing and earnings management activities, and how they are impacted by corporate governance mechanisms.

Using the political cost theory, the study provides insights into how opportunistic managerial behaviours which have a strong link to profit shifting and tax evasion are driven by corporate governance using data from 16 listed firms for the period 2008–2020.

The results reveal that the transaction-based transfer pricing model is better than the index-based model and the accrual-based earnings management model suits the political cost theory more than the real earnings management metric. Board size and female CEO increase transfer pricing aggressiveness but board independence, CEO tenure, CEO nationality and female Board Chairwomanship reduce transfer pricing aggressiveness. The findings also reveal the role of multinational enterprise status, private ownership, industry type, firm size, financial leverage, asset tangibility and firm age. For accrual-based earnings management, board independence, CEO tenure, and female Board Chairwomanship significantly decrease earnings management. Other factors include private ownership, firm size, and firm age.

The findings of the study are relevant for shaping industry-level policies on earning management, transfer pricing and related-party transactions. Since these opportunistic managerial behaviours are the foremost drivers of tax avoidance and profit shifting, the findings of this study provide relevant insights for practitioners, tax and other regulatory authorities, policymakers and the academic community alike.

This is among the premier studies on the transfer pricing and earnings management nexus with corporate governance factors using the political cost theory, especially in the developing country context. It also reveals the significant impact of gender and suggests the need for gender diversity in corporate management.

This study systematically reviews the existing literature on the application of gamification in logistics and supply chain management (LSCM). This study aims to categorise the literature in various logistics and supply chain domains, to conceptualise the gamification framework pertinent in the context of LSCM and to provide a research agenda for scholars in the area.

The study’s methodology adopts the Preferred Reporting Items for Systematic Review and Meta-Analysis framework to conduct a systematic literature review. Forty relevant papers published from 2012 to 2023 are included in the analysis.

Augmented reality, blockchain, education, sustainability and warehousing have been identified as the key focus areas in which gamification is applied. Furthermore, the paper highlights different research approaches used to study these domains, maps the literature with gamification constructs (affordances, psychological outcomes and behavioural outcomes) and provides potential research avenues for future scholars.

This review offers evidence of the impact of gamification on workforce dynamics, employee motivation, job satisfaction, trust, employee engagement and productivity. The study significantly contributes to the academic community by offering a conceptual framework and meaningful avenues for future researchers.

This research work contributes to the gamification, logistics and supply chain literature by providing a more comprehensive and methodical knowledge of the field. This study adds to the body of knowledge by offering a reference framework for future scholars based on a synthesis of the studies published so far in the area.