Template-Type: ReDIF-Article 1.0 Author-Name: Ali Uyar Author-X-Name-First: Ali Author-X-Name-Last: Uyar Author-Name: Hany Elbardan Author-X-Name-First: Hany Author-X-Name-Last: Elbardan Author-Name: Ahmed Yamen Author-X-Name-First: Ahmed Author-X-Name-Last: Yamen Title: Drivers of convergence/divergence of corporate governance codes of MENA countries Abstract: This study aims to fill an existing gap in the regional corporate governance research by investigating the extent of and the drivers behind the convergence/divergence of the corporate governance codes among Middle Eastern and North African (MENA) countries comparing to the globally known Organization for Economic Cooperation and Development (OECD) principles of corporate governance. The results of the study revealed that the convergence level of the codes among the countries and compared to OECD principles significantly varies among countries, ranging from 31% to 73%. The results show that the adopted governance principles in the codes are 'decoupled' from legitimation concerns and focus on efficiency goals. The macroeconomic factors of MENA countries do not consistently reflect the convergence score of the codes with the OECD principles. The institutional quality factors of MENA countries are not aligned with their codes. The study provides several important implications for regulators, firms and other stakeholders. Journal: Int. J. of Business Governance and Ethics Pages: 217-243 Issue: 3 Volume: 13 Year: 2019 Keywords: corporate governance codes; convergence/divergence; institutional theory; MENA countries. File-URL: http://www.inderscience.com/link.php?id=99367 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:13:y:2019:i:3:p:217-243 Template-Type: ReDIF-Article 1.0 Author-Name: Seçil Bal Taştan Author-X-Name-First: Seçil Bal Author-X-Name-Last: Taştan Author-Name: Seyed Mehdi Mousavi Davoudi Author-X-Name-First: Seyed Mehdi Mousavi Author-X-Name-Last: Davoudi Title: The relationship between socially responsible leadership and organisational ethical climate: in search for the role of leader's relational transparency Abstract: This study focused on the interaction between socially responsible leadership, relational transparency and organisational ethical climate. It is assumed that socially responsible leadership has an important role in affecting organisational ethical climate and relational transparency of the leaders also has a role in terms of influencing ethical climate. Thus, it is suggested that perceived relational transparency of the leaders will moderate the relationship between perceived socially responsible leadership and ethical climate. For investigating the hypothesised relationships, a research study was performed on a sample of 246 employees working in Turkish private organisations from different industries including education, banking-finance, tourism and health institutions. A combined questionnaire with five-point Likert scale was used. Results indicated that transparency significantly moderated the relationship between socially responsible leadership and organisational ethical climate. However, the findings of structural equation modelling tests reported that the relation of socially responsible leadership with ethical climate was not significant. Subsequently, further analyses, limitations and future research recommendations are discussed and both academic and practical implications of the study are presented. Journal: Int. J. of Business Governance and Ethics Pages: 275-299 Issue: 3 Volume: 13 Year: 2019 Keywords: socially responsible leadership; SRL; governance; ethical climate; relational transparency; structural equation modelling; SEM. File-URL: http://www.inderscience.com/link.php?id=99368 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:13:y:2019:i:3:p:275-299 Template-Type: ReDIF-Article 1.0 Author-Name: Marina Brogi Author-X-Name-First: Marina Author-X-Name-Last: Brogi Author-Name: Valentina Lagasio Author-X-Name-First: Valentina Author-X-Name-Last: Lagasio Title: Do bank boards matter? A literature review on the characteristics of banks' board of directors Abstract: Corporate governance of banks is important and unique (Levine, 2004). Sound bank corporate governance is a crucial element for promoting a more resilient financial system (FSB, 2013) and sustaining economic growth (BCBS, 2015). A systematic literature review is conducted on the articles published in peer-reviewed academic journals to identify the prevailing results in academic research on bank board characteristics, which is the most investigated topic in bank corporate governance. Based on both theoretical and empirical contributions, findings show that research mainly measures the impact of board characteristics on performance and risks potentially faced by banks, however there is no univocal consensus on the best practices to adopt. Further research is needed to directly investigate other areas of bank corporate governance (such as internal risk management, remuneration and ownership structure). Journal: Int. J. of Business Governance and Ethics Pages: 244-274 Issue: 3 Volume: 13 Year: 2019 Keywords: banks; corporate governance; board of directors; BoD; board independence; review. File-URL: http://www.inderscience.com/link.php?id=99369 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:13:y:2019:i:3:p:244-274 Template-Type: ReDIF-Article 1.0 Author-Name: Kemi Yekini Author-X-Name-First: Kemi Author-X-Name-Last: Yekini Author-Name: Han Li Author-X-Name-First: Han Author-X-Name-Last: Li Author-Name: Paschal Ohalehi Author-X-Name-First: Paschal Author-X-Name-Last: Ohalehi Author-Name: Aruoriwo M. Chijoke-Mgbame Author-X-Name-First: Aruoriwo M. Author-X-Name-Last: Chijoke-Mgbame Title: CSR disclosure and corporate sustainability: evidence from the Shenzhen Stock Exchange Abstract: In this paper we examined the relationship between CSR and corporate sustainability of Chinese companies listed on the Shenzhen Stock Exchange. This is necessitated by the high demand and increase in CSR activities and disclosures around the globe. Using a sample of 317 companies, we drew insights from the triple bottom line (TBL) and stakeholder theory to investigate the relationship between CSR and corporate sustainability. Data was analysed using structural equation modelling (SEM). A major contribution of this paper is the construction of a comprehensive CSR information disclosure index capable of guiding researchers and managers in measuring their CSR activities and reporting. The study's findings revealed that most Chinese companies stayed at the intermediate level of CSR information disclosure. Although CSR disclosure in economic and social dimension has a significant positive effect on corporate sustainability, our result shows a negative relationship with CSR in environmental dimension. Journal: Int. J. of Business Governance and Ethics Pages: 300-322 Issue: 3 Volume: 13 Year: 2019 Keywords: corporate social responsibility disclosure; corporate sustainability; sustainability reporting; triple bottom line; TBL; stakeholder theory. File-URL: http://www.inderscience.com/link.php?id=99370 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:13:y:2019:i:3:p:300-322 Template-Type: ReDIF-Article 1.0 Author-Name: Dipasha Sharma Author-X-Name-First: Dipasha Author-X-Name-Last: Sharma Author-Name: Sonali Bhattacharya Author-X-Name-First: Sonali Author-X-Name-Last: Bhattacharya Author-Name: Shagun Thukral Author-X-Name-First: Shagun Author-X-Name-Last: Thukral Title: Resource-based view on corporate sustainable financial reporting and firm performance: evidences from emerging Indian economy Abstract: The purpose of the study is to find the impact of environmental, social and governance (ESG) disclosure on financial performance of firms in an emerging economy, India, using resource-based view. The financial performance of the firms was taken as the predicted variable. ESG disclosure scores showed negative association with the measures of firm performance, with relationship being moderately significant with return on assets. Environmental disclosure score was found to have significant inverse relationship with measures of both accounting performance (ROA) and marketing performance (Tobin's Q). Social performance disclosure has significant positive impact on firms' financial performance. Size of the firm has moderating role to play in determining the impact of social disclosure score on financial performance. Larger firms were found to be displaying higher capability to convert their social performance into competitive advantage. Firms in the sectors of healthcare and energy sectors have significant competitive advantage with higher environmental performance. Journal: Int. J. of Business Governance and Ethics Pages: 323-344 Issue: 4 Volume: 13 Year: 2019 Keywords: financial performance; resource-based view; environmental; social; governance disclosure. File-URL: http://www.inderscience.com/link.php?id=99565 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:13:y:2019:i:4:p:323-344 Template-Type: ReDIF-Article 1.0 Author-Name: Fabio La Rosa Author-X-Name-First: Fabio La Author-X-Name-Last: Rosa Author-Name: Sergio Paternostro Author-X-Name-First: Sergio Author-X-Name-Last: Paternostro Title: Measuring and reporting confiscated firms' (social) business value Abstract: This study highlights the peculiar aspects of the business valuation process involving firms confiscated from the Mafia organisation, by pointing out some criteria to guide the selection of the appropriate valuation method. We identify some preliminary operational proposals for drawing up an effective valuation report taking social and ethical factors into account. Based on an empirical analysis carried out on a sample of Italian firm valuation reports publicly available, we find that the main business valuation choices are not explained in an in-depth manner and that there are many differences between the valuation reports and the prescriptive content proposed. Theoretical implications may stem from the inclusion of the stakeholder perspective in the business valuation studies. The paper has many practical implications for appraisers because it suggests some operational solutions for the valuation methods and reports of confiscated firms in a stakeholder perspective. Journal: Int. J. of Business Governance and Ethics Pages: 345-360 Issue: 4 Volume: 13 Year: 2019 Keywords: valuation methods; valuation report; confiscated firms; stakeholder analysis; business valuation. File-URL: http://www.inderscience.com/link.php?id=99566 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:13:y:2019:i:4:p:345-360 Template-Type: ReDIF-Article 1.0 Author-Name: Victoria Fernández-de-Tejada Author-X-Name-First: Victoria Author-X-Name-Last: Fernández-de-Tejada Author-Name: Francisco Javier Palencia-González Author-X-Name-First: Francisco Javier Author-X-Name-Last: Palencia-González Author-Name: Irene Saavedra Author-X-Name-First: Irene Author-X-Name-Last: Saavedra Author-Name: Marta Solórzano-García Author-X-Name-First: Marta Author-X-Name-Last: Solórzano-García Title: Is ethical management of human resources inherent to social enterprises? European tradition model versus Anglo-Saxon model Abstract: Social entrepreneurship has become an economic reality with great potential to provide a response to the existing social challenges. In this paper we identify two models of social enterprise, and we provide, for the first time, evidence from the human resource management of social enterprises in Spain. This allows us to analyse whether these social enterprises manage their human resources in an ethical way, and whether a different ethical human resource management exists in the two models. We have designed a questionnaire using the ethical practices of the ethical human resource management model as a basis. The results reveal that social enterprises in Spain manage their human resources ethically and a difference does not exist between the two models identified. We conclude by outlining the implications for a better understanding of ethical practices in human resource management in social enterprises. Journal: Int. J. of Business Governance and Ethics Pages: 385-407 Issue: 4 Volume: 13 Year: 2019 Keywords: social entrepreneurship; social enterprise models; ethical management; human resources management; ethics. File-URL: http://www.inderscience.com/link.php?id=99567 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:13:y:2019:i:4:p:385-407 Template-Type: ReDIF-Article 1.0 Author-Name: Gurcharan Singh Author-X-Name-First: Gurcharan Author-X-Name-Last: Singh Author-Name: Anwar Halari Author-X-Name-First: Anwar Author-X-Name-Last: Halari Author-Name: William Satoh Author-X-Name-First: William Author-X-Name-Last: Satoh Title: Corporate governance mechanisms and risk-taking in South Africa Abstract: This study examines the relationship between the quality of corporate governance score and the risk-taking behaviour of firms using data from 120 companies listed on the Johannesburg Stock Exchange (JSE) from 2010 to 2016. More specifically, this study analyses the way in which: 1) compliance to corporate governance; 2) percentage of non-executive directors on the board; 3) total number of board members; 4) percentage of debt; 5) firm size affect risk-taking behaviour in South African firms. Using a dynamic panel data regression model, the research found that corporate governance score and leverage are significant and negatively related with risk. This contradicts prior studies in other markets. Furthermore, the percentage of NEDS, board size and firm size, though positively related, were found to be insignificant risk factors. This can have useful implications for managers in assessing risk behaviour of South African firms. Journal: Int. J. of Business Governance and Ethics Pages: 361-384 Issue: 4 Volume: 13 Year: 2019 Keywords: risk-taking; non-financial companies; corporate governance score; board size; corporate governance; percentage of NEDs; leverage; South Africa; firm size. File-URL: http://www.inderscience.com/link.php?id=99568 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:13:y:2019:i:4:p:361-384 Template-Type: ReDIF-Article 1.0 Author-Name: Sasiwimon Warunsiri Paweenawat Author-X-Name-First: Sasiwimon Warunsiri Author-X-Name-Last: Paweenawat Title: Women on boards and corporate governance: evidence from listed companies in Thailand Abstract: Despite high female participation in the Thai labour market, female representation on Thai boards of directors is low. This study investigates the effect of female representation on boards of directors on the level of corporate governance in Thailand. The ordered logit regression is applied to a dataset of companies listed on the Stock Exchange of Thailand (SET). The main results show that an improvement in corporate governance is associated with a higher ratio of women appointed as board directors. Furthermore, female leadership in the form of chairpersons on executive and audit committees, two important subcommittees, strongly and positively affects corporate governance levels. Finally, the presence of women on a board has a similar effect on corporate governance as that of the presence of independent directors does. The findings offer an insightful introduction to policy makers for promoting female leadership roles on boards to enhance corporate governance. Journal: Int. J. of Business Governance and Ethics Pages: 408-425 Issue: 4 Volume: 13 Year: 2019 Keywords: corporate governance; women; female leadership; gender diversity; gender equality; boards of directors; listed companies; Stock Exchange of Thailand; SET; Thailand. File-URL: http://www.inderscience.com/link.php?id=99569 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:13:y:2019:i:4:p:408-425