Template-Type: ReDIF-Article 1.0 Author-Name: Temitope Omotayo Author-X-Name-First: Temitope Author-X-Name-Last: Omotayo Author-Name: Tom R. Brudenell Author-X-Name-First: Tom R. Author-X-Name-Last: Brudenell Author-Name: Ayokunle Olanipekun Author-X-Name-First: Ayokunle Author-X-Name-Last: Olanipekun Author-Name: Temitope Egbelakin Author-X-Name-First: Temitope Author-X-Name-Last: Egbelakin Title: Managing construction delivery during the COVID-19 pandemic in the UK construction industry Abstract: This study focused on maintaining the delivery of construction projects in a crisis scenario such as the COVID-19 pandemic to drawing construction project management lessons for future projects. A qualitative interpretive approach comprising a semi-structured interview was employed to understand the responses and strategies used by six interviewees in construction companies to maintain high productivity levels in their projects during the pandemic. Data obtained were subjected to thematic analysis to establish reoccurring strategies. The results revealed a clear disparity in the level of productivity that was achieved onsite and in the office. The UK construction industry is vulnerable to crisis, and individual organisations must build more resilience. Delays in project delivery were endemic during the peak of COVID-19, and contingency measures must be in place to bolster the efforts of onsite construction workers to meet deadlines. Finally, an extension of time due to the declaration of force majeure is not enough to support productivity. Journal: Int. J. of Business Governance and Ethics Pages: 188-214 Issue: 2 Volume: 18 Year: 2024 Keywords: COVID-19; crisis management; disruption; productivity project delivery; UK. File-URL: http://www.inderscience.com/link.php?id=136988 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:18:y:2024:i:2:p:188-214 Template-Type: ReDIF-Article 1.0 Author-Name: Dorcas Titilayo Moyanga Author-X-Name-First: Dorcas Titilayo Author-X-Name-Last: Moyanga Author-Name: Lekan Damilola Ojo Author-X-Name-First: Lekan Damilola Author-X-Name-Last: Ojo Author-Name: Oluwadamilare Olamide Ilesanmi Author-X-Name-First: Oluwadamilare Olamide Author-X-Name-Last: Ilesanmi Author-Name: Ahmed Elyamany Author-X-Name-First: Ahmed Author-X-Name-Last: Elyamany Title: Characterisation of the effects of coronavirus pandemic on construction projects delivery Abstract: The advent of coronavirus (COVID-19) pandemic has greatly affected the delivery of construction projects globally. Sadly, the variants of COVID-19 present a proposition that the virus may not be easily overcome anytime soon. However, continual delivery of construction projects is indispensable, especially in developing nations for smooth running of the economy. Therefore, it becomes important to understand the effects of the COVID-19 on construction projects delivery and categorise them into manageable size for proffering practical solutions while meeting the needs of clients and ensuring safety of workers simultaneously. Through firm-based survey, 139 copies of questionnaire retrieved were analysed with descriptive and inferential statistics. Based on the results of the factor analysis conducted, the effects of COVID-19 were grouped into workforce-related, cost-related, and project-related. Investing in automated construction equipment and devices was recommended for construction organisations in developing countries. Besides, mindfulness-based intervention programme was advised to combat construction worker's anxiety. Journal: Int. J. of Business Governance and Ethics Pages: 169-187 Issue: 2 Volume: 18 Year: 2024 Keywords: construction project delivery; COVID-19; effects; Nigeria. File-URL: http://www.inderscience.com/link.php?id=136989 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:18:y:2024:i:2:p:169-187 Template-Type: ReDIF-Article 1.0 Author-Name: Olugbenga Timo Oladinrin Author-X-Name-First: Olugbenga Timo Author-X-Name-Last: Oladinrin Author-Name: Lekan Damilola Ojo Author-X-Name-First: Lekan Damilola Author-X-Name-Last: Ojo Author-Name: Onaopepo Adeniyi Author-X-Name-First: Onaopepo Author-X-Name-Last: Adeniyi Author-Name: Funke Dorcas Adedeji Author-X-Name-First: Funke Dorcas Author-X-Name-Last: Adedeji Title: Severity of ethical issues in virtual teams on construction projects Abstract: The outbreak of the coronavirus pandemic has brought a new dynamic into team decision-making on construction projects in which face-to-face meetings largely metamorphosised into virtual. Online decision-making process and virtual environment have been challenged by some ethical issues, especially in developing countries. The severity of these ethical issues confronting virtual construction team decision-making process were purposely investigated via online survey among construction professionals in Lagos State, Nigeria. The data collected were analysed with various descriptive and inferential analyses namely mean score, normality test, Kruskal-Wallis H test, and modified relative severity value (mRSV). Based on the results of mRSV computed on the severity of the ethical issues inhibiting virtual team decision-making, the high ranked factors are <i>technical uncertainties</i>, <i>unpredictable communication</i>, <i>lack of follow-through on ideas</i>, and <i>unequally distributed information</i>, among others. Several recommendations such as collective appraisal of potential technical glitch before proposing a virtual collaboration, amongst others was suggested. Journal: Int. J. of Business Governance and Ethics Pages: 154-168 Issue: 2 Volume: 18 Year: 2024 Keywords: construction; ethical issues; Nigeria; virtual decision-making; severity. File-URL: http://www.inderscience.com/link.php?id=137000 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:18:y:2024:i:2:p:154-168 Template-Type: ReDIF-Article 1.0 Author-Name: Marc Kouzez Author-X-Name-First: Marc Author-X-Name-Last: Kouzez Author-Name: Ji-Yong Lee Author-X-Name-First: Ji-Yong Author-X-Name-Last: Lee Author-Name: Jomana Mahfod-Leroux Author-X-Name-First: Jomana Author-X-Name-Last: Mahfod-Leroux Title: Investment in ESG activities and bank performance: does bank ownership matter? Abstract: In this paper, we investigate the relation between environmental, social and governance (ESG) activities and bank performance in European markets. Different from existing literature, we also explore whether ESG activities differently affect the performance of foreign-owned banks and domestic-owned banks. The results show that higher involvement in ESG activities is associated with better performance only for foreign-owned banks, and suggest that investment in ESG activities is relevant for foreign banks since it helps to obtain legitimacy in foreign markets, and enhance their reputation on international level. Our findings provide a better understanding of whether a bank's ESG activities are in the interest of shareholders, and partially explain the contradictory results in previous studies. Journal: Int. J. of Business Governance and Ethics Pages: 357-374 Issue: 4/5 Volume: 18 Year: 2024 Keywords: bank performance; ESG; foreign banks. File-URL: http://www.inderscience.com/link.php?id=139628 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:18:y:2024:i:4/5:p:357-374 Template-Type: ReDIF-Article 1.0 Author-Name: Taher Hamza Author-X-Name-First: Taher Author-X-Name-Last: Hamza Author-Name: Rym Mhadhbi Author-X-Name-First: Rym Author-X-Name-Last: Mhadhbi Author-Name: Zeineb Barka Author-X-Name-First: Zeineb Author-X-Name-Last: Barka Title: CSR investment and operating and financial leverage under competitive pressure Abstract: We investigate the cost of socially behaving firms and its impact on firms' operating and financial leverage. In addition, this relationship is likely to be subject to a potential moderating effect of industry competitive pressure. Using a sample of French-listed companies over 2002-2016, our empirical findings show that: 1) CSR affects positively and significantly, via social performance, the firm operating leverage (OPLEV). Environmental performance however, has no significant impact; 2) industry competition has a significant and negative impact on the association between CSR and OPLEV. In less competitive industries, CSR policy creates a competitive advantage that reduces firm's operating risk; 3) a negative effect of CSR on the financial leverage (FINLEV). Overall, our findings continue to hold after controlling for endogeneity and conducting alternative econometric specifications and have important policy implications. Journal: Int. J. of Business Governance and Ethics Pages: 375-394 Issue: 4/5 Volume: 18 Year: 2024 Keywords: corporate social responsibility; CSR; social performance; environment performance; operating leverage; OPLEV; financial leverage; competitive pressure. File-URL: http://www.inderscience.com/link.php?id=139629 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:18:y:2024:i:4/5:p:375-394 Template-Type: ReDIF-Article 1.0 Author-Name: Wajih Abbassi Author-X-Name-First: Wajih Author-X-Name-Last: Abbassi Author-Name: Sabri Boubaker Author-X-Name-First: Sabri Author-X-Name-Last: Boubaker Author-Name: Kaouther Chebbi Author-X-Name-First: Kaouther Author-X-Name-Last: Chebbi Author-Name: Riadh Manita Author-X-Name-First: Riadh Author-X-Name-Last: Manita Title: Do CEO debt-like compensations promote investment efficiency? Abstract: This paper investigates how incentives from CEO debt-like compensations affect labour investment efficiency. Using a sample of 9,644 US firms-year observations from 2006 to 2018, we provide empirical evidence that labour investment inefficiencies, proxied by the absolute difference between the actual net hiring level and the optimal one predicted by economic fundamentals, decrease with CEO inside debt. These results are robust to using alternative proxies of CEO inside debt and the control for endogeneity. We further examine under-investment (under-hiring and over-firing) and over-investment (over-hiring and under-firing) problems and provide evidence that each form of distortion decreases as CEO inside debt increases. We also show that the positive impact of CEO inside debt on labour investment efficiency is more pronounced in firms facing lower financial constraints. Overall, our findings highlight the importance of CEO debt-like compensations in shaping firm-level employment decisions. Journal: Int. J. of Business Governance and Ethics Pages: 395-429 Issue: 4/5 Volume: 18 Year: 2024 Keywords: inside debt; pension; deferred compensation; investment efficiency; labour investment. File-URL: http://www.inderscience.com/link.php?id=139631 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:18:y:2024:i:4/5:p:395-429 Template-Type: ReDIF-Article 1.0 Author-Name: Abdelmajid Ibenrissoul Author-X-Name-First: Abdelmajid Author-X-Name-Last: Ibenrissoul Author-Name: Souhaila Kammoun Author-X-Name-First: Souhaila Author-X-Name-Last: Kammoun Author-Name: Amine Lahiani Author-X-Name-First: Amine Author-X-Name-Last: Lahiani Title: Cost-benefit analysis economic evaluation of CSR projects: evidence from Morocco Abstract: In this paper, we perform a cost-benefit analysis (CBA) on a Moroccan corporate socially responsible company to evaluate not only the economic profitability of corporate social responsibility (CSR) engagement for the firm but also the environmental and societal benefits for Morocco. Our approach also offers the possibility to measure the value created by the anti-pollution system project of Casablanca area for all stakeholders and for the community. It has the advantage of evaluating, in monetary terms, a project that does not generate financial resources, which allows calculating the economic value of the CSR project. The obtained results show that the project is viable regardless of the considered benefits and costs subcategories. Important policy implications can be drawn from our analysis. Journal: Int. J. of Business Governance and Ethics Pages: 456-471 Issue: 4/5 Volume: 18 Year: 2024 Keywords: corporate social responsibility; CSR; cost-benefit analysis; CBA; anti-pollution system; APS; economic evaluation; Morocco. File-URL: http://www.inderscience.com/link.php?id=139632 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:18:y:2024:i:4/5:p:456-471 Template-Type: ReDIF-Article 1.0 Author-Name: Sana Akbar Khan Author-X-Name-First: Sana Akbar Author-X-Name-Last: Khan Author-Name: René P. Orij Author-X-Name-First: René P. Author-X-Name-Last: Orij Author-Name: Nhung Vu Author-X-Name-First: Nhung Author-X-Name-Last: Vu Title: Financial expert CEOs and corporate social responsibility decoupling Abstract: We study CEOs with a financial background in relation to firms' corporate social responsibility (CSR) decoupling, referred to the gap between the actual and reported CSR performance. Using a sample of 2,513 firms operating in 29 countries from 2006 to 2017, we examine whether financial expert CEOs facilitate firms to tackle the institutional pressure and mitigate CSR decoupling. The result shows that financial expert CEOs reduce the CSR gap. We provide evidence suggesting that financial expert CEOs only affect the environmental dimension since this dimension is at the most concern of stakeholders. Moreover, board independence strengthens the relationship between financial expert CEOs and CSR decoupling, especially in the environmental dimension. Overall, the results suggest that CEOs with financial background matter to improve the CSR reporting quality and reduce the information asymmetry between firms and their stakeholders, contributing to the upper echelons theory. Journal: Int. J. of Business Governance and Ethics Pages: 430-455 Issue: 4/5 Volume: 18 Year: 2024 Keywords: financial expert CEOs; CSR decoupling; upper echelons theory; corporate governance. File-URL: http://www.inderscience.com/link.php?id=139635 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:18:y:2024:i:4/5:p:430-455 Template-Type: ReDIF-Article 1.0 Author-Name: Islem Arous Author-X-Name-First: Islem Author-X-Name-Last: Arous Author-Name: Nidhaleddine Ben Cheikh Author-X-Name-First: Nidhaleddine Ben Author-X-Name-Last: Cheikh Author-Name: Salah Ben Hamed Author-X-Name-First: Salah Ben Author-X-Name-Last: Hamed Title: The effect of corporate social responsibility on European bank credit ratings Abstract: The possible influences of corporate social responsibility (CSR) on corporate credit ratings have been the subject of several studies in recent years, but no work has yet analysed this relationship among banks. As a result, this research aims to identify the effect of CSR on bank credit ratings in a sample of 27 European banks over the annual period 2007-2016. We suggest implementing a panel quantile regression analysis, where the impact of CSR is provided for low, medium, and high credit ratings, respectively. The empirical results show that the importance of CSR differs according to the credit rating level of each bank. Our findings point out that poorly rated banks need to develop and improve their environmental, social, and governance performance. In addition, we highlight that the environmental score has the strongest effect on European banks' credit ratings in comparison to the social and governance scores. Journal: Int. J. of Business Governance and Ethics Pages: 472-491 Issue: 4/5 Volume: 18 Year: 2024 Keywords: corporate social responsibility; CSR; credit ratings; quantile regression; European banks. File-URL: http://www.inderscience.com/link.php?id=139636 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:18:y:2024:i:4/5:p:472-491 Template-Type: ReDIF-Article 1.0 Author-Name: Haithem Awijen Author-X-Name-First: Haithem Author-X-Name-Last: Awijen Author-Name: Hachmi Ben Ameur Author-X-Name-First: Hachmi Ben Author-X-Name-Last: Ameur Author-Name: Nidhaleddine Ben Cheikh Author-X-Name-First: Nidhaleddine Ben Author-X-Name-Last: Cheikh Author-Name: Younes Ben Zaied Author-X-Name-First: Younes Ben Author-X-Name-Last: Zaied Title: Politically connected CEOs and risk-taking behaviour: comparative evidence from private and foreign-owned banks in China Abstract: This study investigates the effect of CEOs' political connections on the risk-taking behaviour of banks in China over the period 2003-2017. Using both credit and insolvency risk measures, we show that political connections have a positive effect on banks' risk-taking behaviour. Bank ownership structure also positively moderates the relationship between political connections and risk-taking. Our empirical results have important policy implications for investors and the government. We highlight the importance of CEOs' political connections, which potentially play a role in determining a bank's risk-taking behaviour. Finally, our results are robust to alternative bank risk and ownership variables. Journal: Int. J. of Business Governance and Ethics Pages: 522-553 Issue: 4/5 Volume: 18 Year: 2024 Keywords: political connections; bank risk-taking; ownership structure; ownership concentration; China. File-URL: http://www.inderscience.com/link.php?id=139638 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:18:y:2024:i:4/5:p:522-553 Template-Type: ReDIF-Article 1.0 Author-Name: Douglas Aghimien Author-X-Name-First: Douglas Author-X-Name-Last: Aghimien Author-Name: Lerato Aghimien Author-X-Name-First: Lerato Author-X-Name-Last: Aghimien Author-Name: Clinton Aigbavboa Author-X-Name-First: Clinton Author-X-Name-Last: Aigbavboa Author-Name: Siphiwe Dhladhla Author-X-Name-First: Siphiwe Author-X-Name-Last: Dhladhla Title: Too far apart! - An evaluation of the challenges impeding virtual teams' success Abstract: In today's business world, technological advancement, globalisation and the recent global pandemic have contributed to the increased use of virtual teams (VTs). However, the use of VTs in the construction industry in South Africa and the challenges facing this type of team are yet to be explored. Therefore, this study assessed the challenges facing VTs in the South African construction industry using a questionnaire as the data collection instrument. The data were analysed using percentage, mean item score, Kruskal-Wallis H-test, and fuzzy synthetic evaluation. The study found five groups of challenges impeding the success of VTs. Based on the findings, the study concludes that top management and owners of construction organisations seeking to improve their project success through VTs must put measures in place to address issues relating to: 1) trust and cohesion; 2) diversity; 3) leadership; 4) communications; 5) task specifications. Practically, should the identified challenges be considered, construction organisations would be able to use their VTs to deliver construction projects effectively. Theoretically, the study contributes to the existing discourse on VTs by showing these challenges from the South African construction industry perspective, where such a study does not exist. Journal: Int. J. of Business Governance and Ethics Pages: 136-153 Issue: 2 Volume: 18 Year: 2024 Keywords: construction industry; fuzzy synthetic evaluation; FSE; remote work; project team; virtual team. File-URL: http://www.inderscience.com/link.php?id=137081 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:18:y:2024:i:2:p:136-153 Template-Type: ReDIF-Article 1.0 Author-Name: Asif Saeed Author-X-Name-First: Asif Author-X-Name-Last: Saeed Author-Name: Noor Zahid Author-X-Name-First: Noor Author-X-Name-Last: Zahid Author-Name: Rizwan Mushtaq Author-X-Name-First: Rizwan Author-X-Name-Last: Mushtaq Author-Name: Ammar Ali Gull Author-X-Name-First: Ammar Ali Author-X-Name-Last: Gull Title: Moving towards sustainable waste management: a critical analysis of corporate governance Abstract: An increase in the level of greenhouse gases concentration has drawn global attention towards the preservation of the natural ecosystem. In response to stakeholders' pressure, firms are adopting sustainable business practices for reducing their impact on the environment. Among these, firms monitor their waste management practices to reduce the ecological rucksack in their production cycles. We therefore explore the relationship between corporate governance and waste management practices. Based on a panel data set of listed firms from 33 countries during 2002-2017, the results indicate that high corporate governance quality is positively associated with effective waste management practices. Our results remain robust to alternate proxies of waste management and endogeneity concerns. Moreover, the relationship between corporate governance and waste management is eminent in firms with institutional investors, BIG4 auditors, highly intense R&D structure and during the non-crisis period. We interpret our results using stakeholder theory and triple bottom line theory and provide necessary implications. Journal: Int. J. of Business Governance and Ethics Pages: 554-581 Issue: 4/5 Volume: 18 Year: 2024 Keywords: corporate governance; waste management; waste recycled; greenhouse gases; GHG; waste reduction initiatives; WRI. File-URL: http://www.inderscience.com/link.php?id=139641 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:18:y:2024:i:4/5:p:554-581 Template-Type: ReDIF-Article 1.0 Author-Name: Sonia Boukattaya Author-X-Name-First: Sonia Author-X-Name-Last: Boukattaya Author-Name: Abdelwahed Omri Author-X-Name-First: Abdelwahed Author-X-Name-Last: Omri Title: Corporate social responsibility and debt maturity: the moderating role of CSR reporting quality Abstract: The present paper aimed to examine the moderating effect of CSR reporting quality on the relationship between corporate social responsibility (CSR) and debt maturity. Here, we relied on a sample of French listed firms on the SBF120 index from 2013 to 2019. The collected data were analysed using the system GMM estimation to eliminate endogeneity problems when testing the research hypotheses. Based on the agency and signalling theories, our findings provide evidence that CSR performance has a negative effect on corporate debt maturity. High CSR firms use short-term debt financing to signal their high quality to the market and control the CSR overinvestment problems. Furthermore, we show that the negative effect of CSR on debt maturity is more pronounced in high CSR reporting quality firms. Our results are robust to alternative debt maturity measures. Journal: Int. J. of Business Governance and Ethics Pages: 609-626 Issue: 4/5 Volume: 18 Year: 2024 Keywords: capital structure; debt maturity; corporate social responsibility; CSR; global reporting initiative; GRI; CSR disclosure. File-URL: http://www.inderscience.com/link.php?id=139654 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:18:y:2024:i:4/5:p:609-626 Template-Type: ReDIF-Article 1.0 Author-Name: Najlae Bendou Author-X-Name-First: Najlae Author-X-Name-Last: Bendou Author-Name: Jean-Jacques Lilti Author-X-Name-First: Jean-Jacques Author-X-Name-Last: Lilti Author-Name: Khalid El Badraoui Author-X-Name-First: Khalid El Author-X-Name-Last: Badraoui Title: Stock market integration in emerging markets in the spectre of the global financial crisis Abstract: The article examines stock market integration of emerging markets around the global financial crisis of 2007-2008. The rationale of our study is to evaluate whether the level of integration of emerging markets can provide incentives for investors in order to diversify their portfolio to hedge against unsystematic risk. We measure integration in 46 emerging countries between 2000 and 2018 using the mean adjusted R-square methodology. We find that the integration of emerging countries increases at the commencement of the crisis. It reaches a maximum point in the middle of the crisis and then tends to revert to its pre-crisis level. This result provides clear evidence of the benefits of international portfolio diversification in emerging markets which allows to hedge against unsystematic risk during periods of global crises. Journal: Int. J. of Business Governance and Ethics Pages: 582-608 Issue: 4/5 Volume: 18 Year: 2024 Keywords: determinants of integration; diversification; emerging markets; financial crisis; markets co-movement. File-URL: http://www.inderscience.com/link.php?id=139673 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:18:y:2024:i:4/5:p:582-608 Template-Type: ReDIF-Article 1.0 Author-Name: Michail Pazarskis Author-X-Name-First: Michail Author-X-Name-Last: Pazarskis Author-Name: Stergios Galanis Author-X-Name-First: Stergios Author-X-Name-Last: Galanis Author-Name: Andreas G. Koutoupis Author-X-Name-First: Andreas G. Author-X-Name-Last: Koutoupis Author-Name: Athina Stavrou Author-X-Name-First: Athina Author-X-Name-Last: Stavrou Title: Corporate governance in real estate investment trusts: a systematic literature review and ideas for future research Abstract: Although much has been written globally about the key issues of corporate governance in REITs, there are not enough studies inspired by the systematic literature review method. This study reviews the literature on corporate governance in real estate investment trusts (REITs) published after 2004 and addresses three interrelated research questions. We examined 77 peer-reviewed journal articles using a systematic literature review approach. We found that there has been a rise in studies since 2010, with a brief decrease in 2015 and 2017 before increasing again in 2016. Moreover, the vast majority of the studies were published in the areas of economics/econometrics/finance and business/management/accounting. In addition, most of the papers are single-country studies, and the minority are multi-country. The majority of the papers are focused on the USA and Asia. Similarly, the majority of these analyses concentrate on developed countries and ignore emerging and frontier markets. Journal: Int. J. of Business Governance and Ethics Pages: 1-26 Issue: 1 Volume: 18 Year: 2024 Keywords: corporate governance; real estate investment trusts; REITs; systematic literature review; SLR. File-URL: http://www.inderscience.com/link.php?id=135074 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:18:y:2024:i:1:p:1-26 Template-Type: ReDIF-Article 1.0 Author-Name: Tamer Elsheikh Author-X-Name-First: Tamer Author-X-Name-Last: Elsheikh Author-Name: Hafiza Aishah Hashim Author-X-Name-First: Hafiza Aishah Author-X-Name-Last: Hashim Author-Name: Nor Raihan Mohamad Author-X-Name-First: Nor Raihan Author-X-Name-Last: Mohamad Author-Name: Khaled Hussainey Author-X-Name-First: Khaled Author-X-Name-Last: Hussainey Author-Name: Faozi A. Almaqtari Author-X-Name-First: Faozi A. Author-X-Name-Last: Almaqtari Title: The moderating role of CEO race on the relationship between CEO masculinity and company financial performance Abstract: The paper investigates the moderating effect of CEO race on the relationship between CEO masculinity and company performance. The sample includes 260 companies listed on the Bursa Malaysia for the period from 2009 to 2019. Data extracted for 405 unique CEOs from different races (Malay, Chinese, Indian, and others). The paper uses two indicators of CEO masculinity, facial width-to-height ratio (fWHR) and testosterone level (Tsh). The fWHR of CEOs is measured using artificial intelligence (Python code/c). In addition, a contemporary model is applied to estimate Tsh based on face measures and CEO age. The results indicate that CEO race moderates the relationship between masculinity and company performance. The findings reveal that high masculinity is positively associated with company performance only among the non-Bumiputera group, however, there is no significant evidence among the Bumiputera group. This study uniquely links CEO characteristics and financial performance with neuro finance and biological aspects. Therefore, this study offers novel contributions to literature and implications for investors, board members, policymakers, and academicians. Journal: Int. J. of Business Governance and Ethics Pages: 104-129 Issue: 1 Volume: 18 Year: 2024 Keywords: masculinity; testosterone; financial performance; ethnicity; Bumiputera; non-Bumiputera; Bursa Malaysia. File-URL: http://www.inderscience.com/link.php?id=135075 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:18:y:2024:i:1:p:104-129 Template-Type: ReDIF-Article 1.0 Author-Name: Edward T. Vieira Jr. Author-X-Name-First: Edward T. Vieira Author-X-Name-Last: Jr. Author-Name: Susan Grantham Author-X-Name-First: Susan Author-X-Name-Last: Grantham Author-Name: Susan D. Sampson Author-X-Name-First: Susan D. Author-X-Name-Last: Sampson Title: Credit reporting agency stakeholder and CSR reporting linkages Abstract: This Experian Corporate Social Responsibility (CSR) report case study was informed by the 3Ps of sustainability along with legal, ethical, economic, and philanthropic CSR practices. Text network analysis yielded keywords, an overall theme, and 15 sub-themes. In its CSR report, Experian described and emphasised how its services can help consumers develop and protect their financial identity, which lead to greater choices, opportunities, and a sustainable quality life. At the same time, some of Experian's business practices suggest a misalignment with stated strategic goals and practices. This research is unique in that it examines CSR reporting of an organisation in which its key stakeholders are both customers and the product at the same time, making them vital to the company's existence. Results suggest how legitimacy theory and lack of disclosing negative events are deployed to maintain credibility between the organisation and these essential stakeholders. Journal: Int. J. of Business Governance and Ethics Pages: 64-83 Issue: 1 Volume: 18 Year: 2024 Keywords: corporate social responsibility; CSR reporting; CSR disclosure; Experian; business ethics. File-URL: http://www.inderscience.com/link.php?id=135076 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:18:y:2024:i:1:p:64-83 Template-Type: ReDIF-Article 1.0 Author-Name: Zied Ftiti Author-X-Name-First: Zied Author-X-Name-Last: Ftiti Author-Name: Maher Jeriji Author-X-Name-First: Maher Author-X-Name-Last: Jeriji Author-Name: Waël Louhichi Author-X-Name-First: Waël Author-X-Name-Last: Louhichi Author-Name: Yasmine Mensi Author-X-Name-First: Yasmine Author-X-Name-Last: Mensi Author-Name: Amel Zenaidi Author-X-Name-First: Amel Author-X-Name-Last: Zenaidi Title: ESG dimensions, firm performance and corporate governance systems Abstract: This study aims to investigate the ambiguous relationship between corporate sustainable practices [in the environmental, social and governance (ESG) dimensions] and their financial performance in four countries (the USA, Germany, Italy, and Japan) with different national corporate governance systems (Anglo-Saxon, Germanic, Latin, and Japanese) over the period 2010-2018. We analyse the impact of the global ESG score and disaggregated ESG scores on firm performance with both accounting and market measures. Using a panel generalised method of moments system model, we show the existence of a positive relationship between ESG performance and corporate financial performance only for countries representing the Germanic and Latin governance systems, and this is mainly explained by the significant effect of the governance pillar. Journal: Int. J. of Business Governance and Ethics Pages: 492-521 Issue: 4/5 Volume: 18 Year: 2024 Keywords: environmental; social and governance; ESG performance; corporate financial performance; CFP; market value; national governance systems. File-URL: http://www.inderscience.com/link.php?id=139684 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:18:y:2024:i:4/5:p:492-521 Template-Type: ReDIF-Article 1.0 Author-Name: Won-Yong Oh Author-X-Name-First: Won-Yong Author-X-Name-Last: Oh Author-Name: Rami Jung Author-X-Name-First: Rami Author-X-Name-Last: Jung Author-Name: Young Kyun Chang Author-X-Name-First: Young Kyun Author-X-Name-Last: Chang Title: Social ties, group dynamics, and executive compensation: an integrative two-stage framework Abstract: While the effect of top executives' social networks on their compensations has received substantial scholarly attention, little effort has been made to integrate segmented views to offer more complete understanding of this effect. In this paper, we propose an integrative two-stage model by taking both economic and socio-political views into account. We theorise that some characteristics of top executive's outside social ties are positively related to firm performance, and those relationships are conditioned by external and internal strategic contexts, such as environmental uncertainty, strategic relevance, and tie strength. We also theorise that firm performance leads to executives' compensations, but this linkage is moderated by the socio-political dynamics among executives (within-group dynamics) as well as between executives and a board of directors (between-group dynamics) inside the firm. Based on our integrative framework, this paper provides the comprehensive understanding of how executives' compensations are determined and highlights the importance of executive's social ties and their implications. Journal: Int. J. of Business Governance and Ethics Pages: 45-63 Issue: 1 Volume: 18 Year: 2024 Keywords: social ties; executive compensation; strategic contexts; economic view; socio-political view. File-URL: http://www.inderscience.com/link.php?id=135077 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:18:y:2024:i:1:p:45-63 Template-Type: ReDIF-Article 1.0 Author-Name: P.C. Gita Author-X-Name-First: P.C. Author-X-Name-Last: Gita Author-Name: Sheeja Krishnakumar Author-X-Name-First: Sheeja Author-X-Name-Last: Krishnakumar Title: The ripple effect of organisational inclusiveness on perception of ethical climate - an empirical investigation Abstract: Business ethics is considered a key performance indicator for multiple stakeholders such as consumers, suppliers, shareholders, management and society. The adherence to business ethics has changed the way organisations function. The study argues that inclusiveness in an organisation drives several positive outcomes, including the perception of ethical climate. The study also tries to break the loop that suggests inclusiveness is practiced to enable the company to confirm legal requirements instead of a proactive approach. A conclusive research method was adopted in which primary data from 540 respondents was analysed. Findings indicate that inclusiveness at the workplace is a precursor to creating a positive perception of an ethical climate. Increasing inclusiveness and ensuring reduction in discrimination create a stable and positive work culture that enables the employee to positively perceive the environment and climate. The paper will add a new perspective of support for organisations to take a proactive approach toward inclusiveness. Journal: Int. J. of Business Governance and Ethics Pages: 84-103 Issue: 1 Volume: 18 Year: 2024 Keywords: organisational inclusiveness; ethical climate; ripple effect of inclusiveness; diversity and inclusion; corporate governance; impact of inclusiveness; workplace inclusiveness. File-URL: http://www.inderscience.com/link.php?id=135078 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:18:y:2024:i:1:p:84-103 Template-Type: ReDIF-Article 1.0 Author-Name: Khalil Nimer Author-X-Name-First: Khalil Author-X-Name-Last: Nimer Author-Name: Muath Abdel Qader Author-X-Name-First: Muath Abdel Author-X-Name-Last: Qader Author-Name: Tamer K. Darwish Author-X-Name-First: Tamer K. Author-X-Name-Last: Darwish Title: Firm characteristics and the level of IFRS compliance and disclosure in GCC countries Abstract: This study aimed to measure the level of adoption of the disclosure requirements of International Financial Reporting Standards (IFRS) for non-financial listed companies in Gulf Cooperation Council (GCC) markets. We employed a self-constructed disclosure index comprising 379 IFRS mandatory disclosure requirements. A cross-sectional analysis was implemented to test the proposed research hypotheses. We found that the level of compliance varies among GCC countries, with companies operating in the UAE having the highest level of compliance. We also found that leverage and the quality of the external auditor had a significant impact on the level of compliance with IFRS by the targeted companies. Further, our findings demonstrated that companies audited by one of the Big Four audit companies have a high level of IFRS adoption. However, the results did not support the firm size, industry type, profitability and liquidity hypothesis. In this work, the theoretical and practical implications of our results are discussed. Journal: Int. J. of Business Governance and Ethics Pages: 215-240 Issue: 2 Volume: 18 Year: 2024 Keywords: IFRS; compliance; firm characteristics; emerging markets; Gulf Cooperation Council; GCC. File-URL: http://www.inderscience.com/link.php?id=137129 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:18:y:2024:i:2:p:215-240 Template-Type: ReDIF-Article 1.0 Author-Name: Cyrine Ben-Hafaïedh Author-X-Name-First: Cyrine Author-X-Name-Last: Ben-Hafaïedh Author-Name: Pierpaolo Pattitoni Author-X-Name-First: Pierpaolo Author-X-Name-Last: Pattitoni Author-Name: Barbara Petracci Author-X-Name-First: Barbara Author-X-Name-Last: Petracci Title: Egregious separation payments? The role of internal and external corporate governance Abstract: Egregious, unfair, unethical, and immoral are all adjectives that the public and shareholder activists use to describe separation payments, which are payments made to executives who leave firms for various reasons. Such complaints often cite corporate governance issues as well, noting the potentially problematic relationships between executives' and board members' compensation levels. However, some studies of separation pay agreements suggest a lack of any significant relationship between the quality of corporate governance and separation payments. Using a unique, hand-collected dataset pertaining to actual payouts received by the top executives who left their posts between 2002 and 2013 in Italy, this study reveals instead that better quality corporate governance, in both internal and external dimensions, helps regulate the level of separation payments. In turn, it can offset stakeholders' perceptions of unfairness and the resulting negative consequences for the firm; such governance also can help minimise the prevalence of pay-for-failure cases. Journal: Int. J. of Business Governance and Ethics Pages: 241-267 Issue: 3 Volume: 18 Year: 2024 Keywords: boards; corporate governance; ethics; executive compensation; separation payments. File-URL: http://www.inderscience.com/link.php?id=138173 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:18:y:2024:i:3:p:241-267 Template-Type: ReDIF-Article 1.0 Author-Name: Stergios Galanis Author-X-Name-First: Stergios Author-X-Name-Last: Galanis Author-Name: Michail Pazarskis Author-X-Name-First: Michail Author-X-Name-Last: Pazarskis Author-Name: Maria Kyriakou Author-X-Name-First: Maria Author-X-Name-Last: Kyriakou Title: Governance and internal control in LGOs: a systematic literature review Abstract: This research examines the literature on governance and especially internal control in local government organisations (LGOs) and responds to three interconnected research questions (RQ): How is research on governance and internal control in local government organisations being evolved? What are the important aspects and criticisms of the literature on governance and internal control in local government organisations? What does the future of governance and internal control in local government organisations look like? Using a systematic literature review technique, we examine 90 peer-reviewed journal publications between 1986 and 2021. Following 2014, we witness an increase in publications, most in a single country, in developed and emerging markets. Studies on governance and internal control in local government organisations emphasise survey/questionnaire/other empirical methods, while the majority employ agency theory as a methodology. Furthermore, we discovered that governance and operational effectiveness are highly valued by academics. Journal: Int. J. of Business Governance and Ethics Pages: 268-296 Issue: 3 Volume: 18 Year: 2024 Keywords: local governance; internal control; local government organisations; LGOs; municipalities; systematic literature review. File-URL: http://www.inderscience.com/link.php?id=138174 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:18:y:2024:i:3:p:268-296 Template-Type: ReDIF-Article 1.0 Author-Name: Ioannis Gkliatis Author-X-Name-First: Ioannis Author-X-Name-Last: Gkliatis Author-Name: Dimitrios N. Koufopoulos Author-X-Name-First: Dimitrios N. Author-X-Name-Last: Koufopoulos Title: Shifting attention from 'board anatomy' to 'board physiology' to understand the roles of directors: evidence from UK companies Abstract: The study seeks to delineate the roles of board directors under agency and resource dependence perspectives. The literature review conducted suggests further research in clarifying the directors' roles. The results of the principal component analysis from 115 surveyed board directors in the UK suggest that while the dominant roles used in the literature are still supported, they do not capture the whole picture of directors' roles. The study advocates that future research on directors' roles should consider additional tasks and also that researchers should account these roles as a continuum, rather than independent to each other. A new set of six roles is offered, highlighting some undervalued roles. Policymakers may benefit from this study by paying further attention to the important functional aspects of the board, as current focus is mainly on the structural elements. Also, strong recommendation is made to shift attention from board characteristics (anatomy) to board functions (physiology). Journal: Int. J. of Business Governance and Ethics Pages: 313-332 Issue: 3 Volume: 18 Year: 2024 Keywords: corporate governance; board roles; agency theory; resource dependence theory; RDT; UK. File-URL: http://www.inderscience.com/link.php?id=138182 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:18:y:2024:i:3:p:313-332 Template-Type: ReDIF-Article 1.0 Author-Name: Subhas Mondal Author-X-Name-First: Subhas Author-X-Name-Last: Mondal Author-Name: Tarak Nath Sahu Author-X-Name-First: Tarak Nath Author-X-Name-Last: Sahu Title: Is corporate governance relevant to firm performance? Evidence from Indian manufacturing companies Abstract: This article empirically examines how the performance of Indian manufacturing corporations is affected by corporate governance practices. The study has used panel data comprising of 76 manufacturing companies listed in BSE, for a consecutive six-year period, from 2015-2016 to 2020-2021. The study has applied panel data regression model to enquire the impact of ownership structure variables; and also board composition variables on firm performance using Tobin's Q and ROA. The findings reveal that ownership structure variables, board size and multiplicity of the board positively affect both ROA and Tobin's Q. While independent board and women director show positive effect on Tobin's Q, the CEO-duality is negatively associated with Tobin's Q. The study suggests policymakers to enhance the multiplicity of directors and gender diversity, to maintain the right proportion of board independency, and to increase the size of board. Policymakers may also restrict the CEO to play dual role. Journal: Int. J. of Business Governance and Ethics Pages: 27-44 Issue: 1 Volume: 18 Year: 2024 Keywords: board composition; ownership structure; CEO-duality; Tobin's Q. File-URL: http://www.inderscience.com/link.php?id=135112 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:18:y:2024:i:1:p:27-44 Template-Type: ReDIF-Article 1.0 Author-Name: Lara Al-Haddad Author-X-Name-First: Lara Author-X-Name-Last: Al-Haddad Author-Name: Abdullah Al-Ahmad Author-X-Name-First: Abdullah Author-X-Name-Last: Al-Ahmad Title: Does foreign ownership affect corporate cash holdings? Evidence from Amman Stock Exchange Abstract: This study investigates the impact of foreign ownership on corporate cash holdings of Jordanian companies listed on the Amman Stock Exchange. Using a sample of 83 Jordanian companies during the 2010 to 2019 period, our results reveal that there is a statistically significant negative relationship between foreign ownership and corporate cash holdings, suggesting favourable effects of foreign investors on the financing structure of Jordanian companies. That is, when Jordanian companies reduce their cash holdings levels, more financial resources became available to be assigned to other activities, (e.g., investments) that can contribute positively to the growth of these companies. Further, lower cash balances might restrict the managers' ability to overinvest in value-decreasing projects. Hence, foreign investors appeared to enhance the corporate governance quality by reducing the information asymmetry and agency costs associated with excessive cash balances. Our findings have significant policy implications for policymakers, regulators, academics, current and future investors. Journal: Int. J. of Business Governance and Ethics Pages: 297-312 Issue: 3 Volume: 18 Year: 2024 Keywords: Amman Stock Exchange; ASE; cash holdings; foreign ownership; Jordan. File-URL: http://www.inderscience.com/link.php?id=138185 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:18:y:2024:i:3:p:297-312 Template-Type: ReDIF-Article 1.0 Author-Name: Maria Cristina Zaccone Author-X-Name-First: Maria Cristina Author-X-Name-Last: Zaccone Title: Board characteristics and firm success: does the institutional context always matter? Abstract: Relying on the core premise that the board of directors is a collective decision-making group, this study aims at expanding the literature on the influence of internal corporate governance on firm success assuming a comparative approach. Based on a sample of publicly traded companies nested in liberal market economies and coordinated market economies, the results indicate that the relationship between board eldership and firm success holds regardless of the institutional setting where the firm is nested. Similarly, I provide evidence board tenure negatively influences firm success regardless of the institutional setting where the firm is nested. In addition, the results show that directors' attendance to board meetings positively influence firm success regardless of the institutional setting where the firm is nested. Overall, the empirical findings contribute to and extend the existing literature on internal corporate governance and comparative corporate governance. Journal: Int. J. of Business Governance and Ethics Pages: 333-354 Issue: 3 Volume: 18 Year: 2024 Keywords: board of directors; firm success; liberal market economies; LMEs; coordinated market economies; CMEs. File-URL: http://www.inderscience.com/link.php?id=138187 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:18:y:2024:i:3:p:333-354 Template-Type: ReDIF-Article 1.0 Author-Name: Suresh Kalagnanam Author-X-Name-First: Suresh Author-X-Name-Last: Kalagnanam Author-Name: Abhilash Nair Author-X-Name-First: Abhilash Author-X-Name-Last: Nair Title: Corporate social responsibility, allegation of corruption, and media sentiment Abstract: This study examines the two possible effects of CSR on reputation - the insurance like effect and the boomerang effect - within the context of a uniform integrity-questioning negative event through the eyes of the media. Accordingly, we tested whether prior CSR engagement prompts media to give the firm the benefit of doubt when it is accused of 'grand corruption'. We estimated media sentiment using textual analysis on 45,000 media reports covering firms allegedly involved in 'grand corruption'. The study's findings provide no evidence of CSR providing insurance like effect, particularly in the context of integrity-based negative events. In contrast, our results appear to support the idea of the boomerang effect or a punishment for irresponsible behaviour. Journal: Int. J. of Business Governance and Ethics Pages: 627-650 Issue: 6 Volume: 18 Year: 2024 Keywords: corporate social responsibility; CSR; insurance-like effect; media sentiment; grand corruption; boomerang effect; textual analysis. File-URL: http://www.inderscience.com/link.php?id=141802 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:18:y:2024:i:6:p:627-650 Template-Type: ReDIF-Article 1.0 Author-Name: Islam Abdeljawad Author-X-Name-First: Islam Author-X-Name-Last: Abdeljawad Author-Name: Mamunur Rashid Author-X-Name-First: Mamunur Author-X-Name-Last: Rashid Author-Name: Nour Abdul-Rahman Arafat Author-X-Name-First: Nour Abdul-Rahman Author-X-Name-Last: Arafat Author-Name: Hadeel Naifeh Author-X-Name-First: Hadeel Author-X-Name-Last: Naifeh Author-Name: Nadeen Ghanem Author-X-Name-First: Nadeen Author-X-Name-Last: Ghanem Title: CSR and firm performance nexus in a highly unstable political context: institutional influence and community cohesion Abstract: We provide evidence of the relationship between corporate social responsibility (CSR) and corporate financial performance (CFP) in Palestine, a highly unstable political context. Annual reports of all firms listed on the Palestine Exchange (PEX) for the period 2016-2019 were manually content analysed. A checklist of reported CSR items is summarised into four areas: environmental information, human resources, community involvement, and product and customer service quality. Results indicate a robust positive connection between each of the four dimensions and the composite CSR index with three performance indicators: ROA, ROE, and Tobin's Q. Results also find better performing companies with a higher degree of community involvement being greatly appealing, while the environmental dimension was the least resilient. We discuss the significance of community engagement for an unstable context like Palestine from a 'community cohesion' standpoint. Journal: Int. J. of Business Governance and Ethics Pages: 678-701 Issue: 6 Volume: 18 Year: 2024 Keywords: corporate social responsibility; CSR; corporate financial performance; CFP; unstable economies; small economies; Palestine. File-URL: http://www.inderscience.com/link.php?id=141803 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:18:y:2024:i:6:p:678-701 Template-Type: ReDIF-Article 1.0 Author-Name: Um-E-Roman Fayyaz Author-X-Name-First: Um-E-Roman Author-X-Name-Last: Fayyaz Author-Name: Gianluca Antonucci Author-X-Name-First: Gianluca Author-X-Name-Last: Antonucci Author-Name: Raja Nabeel-Ud-Din Jalal Author-X-Name-First: Raja Nabeel-Ud-Din Author-X-Name-Last: Jalal Author-Name: Michelina Venditti Author-X-Name-First: Michelina Author-X-Name-Last: Venditti Title: Role of technology director in boosting internationalisation and performance: an evidence from EU sustainable firms Abstract: The present study investigates the relationship between technology director, internationalisation, and firm performance, assuming the beneficial effect of digital-sustainable corporate governance reforms. We implied the presence of a technology director on the board and empirically examined its impact on firm performance. In addition, we also test business internationalisation as a mediator between the technology director on the board and firm performance. The empirical findings rely on the data retrieved from the S%P Dow Jones Sustainability Index 2019 for 115 top sustainable EU firms and the Thomson Reuters Refinitiv Eikon database. The results reveal a significant positive relationship between the technology director's presence on the board and firm performance. We also find business internationalisation mediates the relationship between the technology director's presence on the board and firm performance. Overall, we try to lay a foundation for a digitally aware board and its impact on important firm decisions. Journal: Int. J. of Business Governance and Ethics Pages: 733-749 Issue: 6 Volume: 18 Year: 2024 Keywords: digitalisation; sustainability; firm internationalisation; technology director; CEO; chief digital officer. File-URL: http://www.inderscience.com/link.php?id=141806 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:18:y:2024:i:6:p:733-749 Template-Type: ReDIF-Article 1.0 Author-Name: Emna Brahem Author-X-Name-First: Emna Author-X-Name-Last: Brahem Author-Name: Florence Depoers Author-X-Name-First: Florence Author-X-Name-Last: Depoers Author-Name: Faten Lakhal Author-X-Name-First: Faten Author-X-Name-Last: Lakhal Author-Name: Assil Guizani Author-X-Name-First: Assil Author-X-Name-Last: Guizani Title: Corporate social responsibility and stock price crash risk: the mediating effect of accounting conservatism Abstract: The purpose of this paper is to investigate the effect of corporate social responsibility (CSR) on the firm-specific stock price crash risk. It also examines how this effect is driven through accounting conservatism. Based on a sample of French-listed firms from the period 2007 to 2016, the authors use GLS regression models on panel data estimated with robust standard errors, clustered at the firm level. The results show that firms' CSR performance is negatively associated with stock price crash risk. These findings suggest that socially responsible firms are less likely to hide bad news and poor performance to comply with stakeholders' ethical expectations, which reduces the stock price crash risk. Furthermore, we find that CSR indirectly decreases the stock price crash risk by enhancing accounting conservatism. This result suggests that accounting conservatism is a channel through which CSR decreases stock price crash risk. Our results provide practical implications for policymakers about the necessity to increase CSR activities as a good corporate governance device. Journal: Int. J. of Business Governance and Ethics Pages: 651-677 Issue: 6 Volume: 18 Year: 2024 Keywords: corporate social responsibility; CSR; stock price crash risk; accounting conservatism; mediating role. File-URL: http://www.inderscience.com/link.php?id=141809 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:18:y:2024:i:6:p:651-677 Template-Type: ReDIF-Article 1.0 Author-Name: Rekha Rao-Nicholson Author-X-Name-First: Rekha Author-X-Name-Last: Rao-Nicholson Author-Name: Liudmyla Svystunova Author-X-Name-First: Liudmyla Author-X-Name-Last: Svystunova Title: Mind the gap: impact of formal institutional distance and human rights differences between the host and home countries on emerging market multinationals' choice of ownership strategy Abstract: Recent decades have witnessed a rapid expansion of emerging-market multinational enterprises' (EMNEs). These newly internationalising firms are faced with challenges as they go abroad. One of the sources of this challenge is the gap between codified formal institutions and the extent to which they are upheld in practice. Drawing on recent critiques, we explore the links between EMNEs' ownership strategy, the difference in the host-home countries in terms of the formal institutions and mediating role of human rights. Our analysis draws on the data for EMNEs from five emerging markets, Brazil, Russia, India, China and South Africa, between 1998-2011. The results suggest a partial mediation effect of human rights difference on the formal institutional distance and EMNEs' ownership stakes, namely, when EMNEs acquired targets in the developed countries. Thus, our study contributes to the literature by evidencing the effect of formal institutions being transmitted via human rights differences between home and host countries. Journal: Int. J. of Business Governance and Ethics Pages: 702-732 Issue: 6 Volume: 18 Year: 2024 Keywords: emerging market multinationals; ownership strategy; human rights; host country institutions; formal institutional distance; cross-border acquisitions. File-URL: http://www.inderscience.com/link.php?id=141810 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:18:y:2024:i:6:p:702-732