Template-Type: ReDIF-Article 1.0 Author-Name: Khaled Hussainey Author-X-Name-First: Khaled Author-X-Name-Last: Hussainey Author-Name: Fadi Alkaraan Author-X-Name-First: Fadi Author-X-Name-Last: Alkaraan Title: Editorial Abstract: editorial Journal: Int. J. of Business Governance and Ethics Pages: 245-250 Issue: 3/4 Volume: 19 Year: 2025 Keywords: corporate social responsibility; CSR; COVID-19; event study; abnormal returns. File-URL: http://www.inderscience.com/link.php?id=146346 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:19:y:2025:i:3/4:p:245-250 Template-Type: ReDIF-Article 1.0 Author-Name: Rimon Micheal Author-X-Name-First: Rimon Author-X-Name-Last: Micheal Author-Name: K. Sandar Kyaw Author-X-Name-First: K. Sandar Author-X-Name-Last: Kyaw Author-Name: Kwami H. Quao Author-X-Name-First: Kwami H. Author-X-Name-Last: Quao Title: The impact of corporate governance on financial leverage: evidence from Egypt Abstract: This study examines the effect of corporate governance on financial leverage of emerging market firms. This study shows the effects of corporate governance by estimating empirical model in which firms' financial leverage is dependent variable, while board size, blockholder ownership, independent directorship, and duality are independent variables. The study employs the panel dataset of 50 listed non-financial firms in Egypt in the period 2008-2019 and the econometric method for panel data, which is multiple regression model. The study suggests a significant and negative effect of board size and duality on the financial leverage relation. The impact of board independence on the financial leverage inclines to be positive significant, and the effect of blockholder ownership tends to be positive, although it is statistically insignificant. The results are inline with diverse of estimation methods. Overall, the findings are consistent with the view that in a context with weak institutional environment, internal corporate governance mechanisms play a particularly important role in the risk-taking activities of emerging market firms. Journal: Int. J. of Business Governance and Ethics Pages: 1-29 Issue: 1 Volume: 19 Year: 2025 Keywords: corporate governance; financial risk; managerial entrenchment; ownership structure; Egypt. File-URL: http://www.inderscience.com/link.php?id=142898 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:19:y:2025:i:1:p:1-29 Template-Type: ReDIF-Article 1.0 Author-Name: Tsun Se Cheong Author-X-Name-First: Tsun Se Author-X-Name-Last: Cheong Author-Name: Felix Tang Author-X-Name-First: Felix Author-X-Name-Last: Tang Author-Name: Andy Cheng Author-X-Name-First: Andy Author-X-Name-Last: Cheng Author-Name: Michal Wojewodzki Author-X-Name-First: Michal Author-X-Name-Last: Wojewodzki Author-Name: Sunny Chan Author-X-Name-First: Sunny Author-X-Name-Last: Chan Title: Long-term evolution of business ethics in Hong Kong Abstract: This paper applies the distribution dynamics analysis (DDA) technique in business ethics research using proprietary data measuring the general public's perception of business ethics levels in 206 major companies operating in Hong Kong. The data is comprehensive and longitudinal, consisting of 10,773 interviews collected between 2012 and 2016, transformed into a summary score of the perceived business ethics standards of Hong Kong companies, i.e., the relative Confucian business ethics score (RCBES). The study documents a slow long-run convergence process in business ethics levels across the companies operating in Hong Kong towards the RCBES value of 1.02, i.e., slightly above the average RCBES equal to 1. The results also indicate the emergence and migration of two convergence clubs with a smaller and larger group of companies clustering to the RCBES values below (0.87) and slightly above (1.02) the average value. The paper offers several implications and avenues for future research directions. Journal: Int. J. of Business Governance and Ethics Pages: 45-66 Issue: 1 Volume: 19 Year: 2025 Keywords: business ethics; Confucian business ethics score; CBES; distribution dynamics analysis; DDA; convergence club; mobility probability plot; MPP; Junzi virtues; Hong Kong. File-URL: http://www.inderscience.com/link.php?id=142899 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:19:y:2025:i:1:p:45-66 Template-Type: ReDIF-Article 1.0 Author-Name: Mariana Cruz Author-X-Name-First: Mariana Author-X-Name-Last: Cruz Author-Name: Álvaro L. Dias Author-X-Name-First: Álvaro L. Author-X-Name-Last: Dias Author-Name: Leandro F. Pereira Author-X-Name-First: Leandro F. Author-X-Name-Last: Pereira Author-Name: Renato Lopes da Costa Author-X-Name-First: Renato Lopes da Author-X-Name-Last: Costa Author-Name: Rui Gonçalves Author-X-Name-First: Rui Author-X-Name-Last: Gonçalves Title: Factors that contributes the willingness to stay in organisations Abstract: The competitive context of globalisation is arising some complex issues for companies. One of the main problems is high turnover rates, which are negatively affecting organisations' results. The willingness to stay in a company can be affected by numerous variables and, understanding these variables can be crucial for the sustainability of any business. This research aims to address and measure willingness to stay within a company, understand if and how much it is influenced by organisational culture, specifically by commitment, happiness, justice and loyalty. Using survey data from 284 active workers, the results reveal that willingness to stay is positively influenced by organisational commitment, organisational happiness and, organisational loyalty. Although organisational justice does not directly affect willingness to stay, it acts as a mediator in the other three variables, revealing an indirect relationship between organisational justice and willingness to stay established through organisational commitment, organisational happiness and, organisational loyalty. Journal: Int. J. of Business Governance and Ethics Pages: 67-93 Issue: 1 Volume: 19 Year: 2025 Keywords: organisational commitment; organisational happiness; organisational justice; organisational loyalty; willingness to stay. File-URL: http://www.inderscience.com/link.php?id=142900 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:19:y:2025:i:1:p:67-93 Template-Type: ReDIF-Article 1.0 Author-Name: Sibylla Meine Andrean Author-X-Name-First: Sibylla Meine Author-X-Name-Last: Andrean Title: The influence of workplace ethics training on leader decision-making Abstract: This study explored the influence of ethics training on leader decision-making and was guided by two research questions: How do leaders perceive that ethics training influenced their decision-making and how can leaders enhance the effectiveness of ethics training to positively influence decision-making? The focus was on leaders' experiences in large publicly traded companies. The study was conducted using a qualitative approach and narrative inquiry design. To gather data, open-ended interview questions were used. Thematic content analysis was used to analyse data by looking for themes in the data that offered insight into the research questions. Three major themes emerged: ethics training increases ethical awareness, ethics training reinforces existing values, and to make ethics training more effective, the training must be more interactive. Findings revealed workplace ethics training did not have a major influence on the ethical behaviour and decision-making of leaders, but it did help to increase their ethical awareness. Journal: Int. J. of Business Governance and Ethics Pages: 94-111 Issue: 1 Volume: 19 Year: 2025 Keywords: ethics training; impact of ethics training; ethics training programs; business ethics; ethics evaluation; ethical decision-making. File-URL: http://www.inderscience.com/link.php?id=142901 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:19:y:2025:i:1:p:94-111 Template-Type: ReDIF-Article 1.0 Author-Name: Hien Thi Tran Author-X-Name-First: Hien Thi Author-X-Name-Last: Tran Author-Name: Hanh Song Thi Pham Author-X-Name-First: Hanh Song Thi Author-X-Name-Last: Pham Author-Name: Hung Quang Doan Author-X-Name-First: Hung Quang Author-X-Name-Last: Doan Title: Agency problem - a missing link between corporate social responsibility reporting and firm performance Abstract: This study investigates the mediating impact of agency problem on the effect of CSR reporting to firm performance. Using the OLS regression method to analyse a dataset of 5,831 firm-year observations of 833 large firms from 30 countries across seven years from 2013 to 2019, the study finds that agency problem is a missing link that mediates the influence of CSR reporting on a firm's economic performance. The results hold in the system GMM estimations. The study unpacks the black box of CSR-firm performance relation in which CSR reporting benefits firm performance through diminishing the agency problem. Unlike the existing literature that only emphasises the role of a corporate board to handle agency problem, this study highlights the role of CSR reporting as an alternative mechanism to mitigate agency problem. Our finding confirms that CSR reporting is fruitful to shareholders; CSR reporting can be employed as a measure to improve principle-agent relationship. Journal: Int. J. of Business Governance and Ethics Pages: 112-130 Issue: 1 Volume: 19 Year: 2025 Keywords: agency problem; corporate social responsibility; CSR; CSR reporting; performance. File-URL: http://www.inderscience.com/link.php?id=142914 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:19:y:2025:i:1:p:112-130 Template-Type: ReDIF-Article 1.0 Author-Name: Murray J. Bryant Author-X-Name-First: Murray J. Author-X-Name-Last: Bryant Author-Name: Throstur Olaf Sigurjonsson Author-X-Name-First: Throstur Olaf Author-X-Name-Last: Sigurjonsson Title: A tale of wilful malfeasance 2003-2008 - followed by recovery and resurrection in Iceland Abstract: The collapse of the Icelandic financial system in October 2008, was unprecedented in both scale and scope, 97% of the financial system collapsed, inflation was rampant, the currency disintegrated, and unemployment was both a social and political issue. This paper endeavours to show, using documentary evidence from 2003-2008, whether the system of monitoring of the banks and economy failed - applying evidence of institutional ascription. The contribution of the paper is to document that both institutional ascriptions, along with corruption and greed, were endemic from 2003-2008. The resurrection and recovery followed a transparent process, based upon objectives of wealth equality along with fairness - inclusive capitalism, to address what went wrong, address the overhang of debt and the rebuild of trust in all institutions, including government itself. Journal: Int. J. of Business Governance and Ethics Pages: 30-44 Issue: 1 Volume: 19 Year: 2025 Keywords: institutional ascription; inclusive capitalism; corruption; malfeasance; financial system collapse. File-URL: http://www.inderscience.com/link.php?id=142980 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:19:y:2025:i:1:p:30-44 Template-Type: ReDIF-Article 1.0 Author-Name: Putri Wulanditya Author-X-Name-First: Putri Author-X-Name-Last: Wulanditya Author-Name: Bambang Subroto Author-X-Name-First: Bambang Author-X-Name-Last: Subroto Author-Name: Syaiful Iqbal Author-X-Name-First: Syaiful Author-X-Name-Last: Iqbal Author-Name: Yeney Widya Prihatiningtias Author-X-Name-First: Yeney Widya Author-X-Name-Last: Prihatiningtias Title: The effect of individual-collective decisions and perceived organisational support on accountants' whistle-blowing actions Abstract: According to ethical decision-making theory and organisational support theory, this paper examines the whistle-blowing actions of accountants from the perspective of individual or collective decision making, the presence or absence of organisational support, and the interaction of the two factors. This study uses a 2 × 2 factorial experimental laboratory design. The participants of this study were 109 postgraduate students in accounting programs and the accounting profession who had sufficient knowledge and experience. The Mann-Whitney and Kruskall-Wallis tests were used for hypothesis testing. The results indicate that accountants are more motivated to act collectively than individually, and accountants who have organisational support are more motivated to act as whistleblowers than those who are not. The interaction between individual or collective decision-making and the presence or absence of organisational support has also been shown to influence accountants' whistle-blowing behaviour. This study will provide insights for accountants and organisations regarding whistle-blowing actions. Journal: Int. J. of Business Governance and Ethics Pages: 131-153 Issue: 2 Volume: 19 Year: 2025 Keywords: accountants; whistle-blowing action; decision making; organisational support. File-URL: http://www.inderscience.com/link.php?id=144767 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:19:y:2025:i:2:p:131-153 Template-Type: ReDIF-Article 1.0 Author-Name: Nowrin Dewan Asphia Author-X-Name-First: Nowrin Dewan Author-X-Name-Last: Asphia Author-Name: Mohit Srivastava Author-X-Name-First: Mohit Author-X-Name-Last: Srivastava Title: Effect of manager's ethical behaviour and organisational ethics on performance: a case of banking industry of Bangladesh Abstract: The banking and financial system primarily determine the economic performance of a country. Banking and finance are vital in framing different policies in today's environment. Ethical issues in the financial sector affect everyone in society positively and negatively. This paper investigates how ethical behaviour affects the banking industry and its performance in Bangladesh. This study determines the relationship between the factors that directly or indirectly influence ethical business practice. Data were derived from a questionnaire explicitly focused on the banking sector of Bangladesh. The result shows that the code of conduct does not affect the manager's ethical behaviour or business ethics within the organisation if it is not strongly implied. The result also suggests that the overall bank performance is highly influenced if a practice of business ethics is governed by the code of conduct content. These findings indicate that strong policies, regulations, and laws should force the organisation to follow the code of conduct to ensure ethical behaviour. Journal: Int. J. of Business Governance and Ethics Pages: 154-175 Issue: 2 Volume: 19 Year: 2025 Keywords: ethical banking; practice of business ethics; code of conduct; manager's ethical behaviour; Bangladesh banking sector. File-URL: http://www.inderscience.com/link.php?id=144770 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:19:y:2025:i:2:p:154-175 Template-Type: ReDIF-Article 1.0 Author-Name: Sonia Ammar Author-X-Name-First: Sonia Author-X-Name-Last: Ammar Author-Name: Jet Mboga Author-X-Name-First: Jet Author-X-Name-Last: Mboga Title: Ethical perceptions and attitudes of doing business in the Middle East: an empirical study of Palestine Abstract: The purpose of this study is to address the perception that business dealings with Middle Eastern nations lack ethical conduct. A research data sample of 200 was obtained from managers, employees, and college students from two major cities in the West Bank area, Ramallah and Nablus in Palestine. The results reveal that gender, ethical education, and ethics training at work among Palestinians did not have a significant PBES. Still, there was enough evidence to conclude that the number of years working significantly affected PBES. The findings provide foreign executives, their employees' familiarity, and scholars with national culture within business dealings a competitive advantage. The insights of this study will contribute to upcoming research on ethics and attitudes and foreign managers towards ethics in Palestine and Middle Eastern nations. Journal: Int. J. of Business Governance and Ethics Pages: 176-197 Issue: 2 Volume: 19 Year: 2025 Keywords: Palestine; ethics; Middle East; multinational corporations; MNCs; business culture. File-URL: http://www.inderscience.com/link.php?id=144772 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:19:y:2025:i:2:p:176-197 Template-Type: ReDIF-Article 1.0 Author-Name: Angela Kit-Fong Ma Author-X-Name-First: Angela Kit-Fong Author-X-Name-Last: Ma Author-Name: Yinfei Chen Author-X-Name-First: Yinfei Author-X-Name-Last: Chen Author-Name: Yiming Chen Author-X-Name-First: Yiming Author-X-Name-Last: Chen Title: Sustainability in the technology industry: board attributes, ESG and corporate financial performance in an emerging market Abstract: This study examines the relationship between the board attributes and the corporate social responsibility (CSR) performance of listed Chinese technology firms. It also examines the relationship between firms' CSR performance and financial performance. The sample consists of data on 1,585 listed technology firms from the 2011 to 2021 period. The CSR metrics in the form of environmental, social, and governance (ESG) scores are analysed using ordinary least squares and fixed-effects regression models. We find that board independence is the strongest driver of CSR performance. Board gender composition and board size have a significant negative effect on CSR performance. Furthermore, managerial overconfidence positively mediates the relationship between CSR and corporate financial performance. This study fills a gap in social sustainability research by applying an ESG perspective to the Chinese technology industry. Journal: Int. J. of Business Governance and Ethics Pages: 198-225 Issue: 2 Volume: 19 Year: 2025 Keywords: technology industry; social responsibility; corporate financial performance; CFP; environmental; social; and governance; ESG; corporate social responsibility; CSR; board independence; board gender. File-URL: http://www.inderscience.com/link.php?id=144774 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:19:y:2025:i:2:p:198-225 Template-Type: ReDIF-Article 1.0 Author-Name: Siti Faizah Zainal Author-X-Name-First: Siti Faizah Author-X-Name-Last: Zainal Author-Name: Hafiza Aishah Hashim Author-X-Name-First: Hafiza Aishah Author-X-Name-Last: Hashim Author-Name: Zalailah Salleh Author-X-Name-First: Zalailah Author-X-Name-Last: Salleh Author-Name: Akmalia Mohamad Ariff Author-X-Name-First: Akmalia Mohamad Author-X-Name-Last: Ariff Author-Name: Nor Raihan Mohamad Author-X-Name-First: Nor Raihan Author-X-Name-Last: Mohamad Title: Ethical practices and financial reporting quality in Malaysian SMEs: the perception of financial report preparers Abstract: The study explores the ethical practices and the attributes of financial reporting quality among the Malaysian small and medium-sized enterprises (SMEs). The study employed phenomenological approach and purposive sampling with a face-to-face interview approach. Seven external accountants working for the Malaysian accounting firms have been interviewed. The Malaysian SMEs' financial reporting quality is determined by faithful representation and comparability from the view of the respondents. The ethical issues concerning in SMEs are financial report adjustment, lack of knowledge, and other issues were discovered during the interview. Additionally, ethical practises help SMEs achieve high-quality financial reporting in which it is useful for decision-making and improve their performance. Understanding ethical behaviour and discovering the importance of having high quality financial reporting in SMEs would be the foundation for future research, with the current study served as its fundamental and providing a more thorough grasp of the ethics and financial reporting quality in SMEs literature. Journal: Int. J. of Business Governance and Ethics Pages: 226-244 Issue: 2 Volume: 19 Year: 2025 Keywords: ethical practices; small and medium-sized enterprises; SMEs; external accountants; preparers. File-URL: http://www.inderscience.com/link.php?id=144775 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:19:y:2025:i:2:p:226-244 Template-Type: ReDIF-Article 1.0 Author-Name: Sabri Boubaker Author-X-Name-First: Sabri Author-X-Name-Last: Boubaker Author-Name: Vineeta Kumari Author-X-Name-First: Vineeta Author-X-Name-Last: Kumari Author-Name: Riadh Manita Author-X-Name-First: Riadh Author-X-Name-Last: Manita Author-Name: Dharen Kumar Pandey Author-X-Name-First: Dharen Kumar Author-X-Name-Last: Pandey Title: Are CSR-compliant firms more resilient during health crises? Abstract: The study examines the relationship between corporate social responsibility (CSR) and stock returns during times of crisis, such as pandemics. During these times, companies often experience decreased demand, reduced profits, and increased financial risk, leading to lower stock returns. Studying 869 Indian-listed firms during 2019-2020, we show that the global pandemic negatively affected firms' returns and that CSR-compliant firm tend to perform better than non-compliant firms after the event. The study also shows that CSR expenditure positively impacts stock returns during the pandemic. The findings contribute to the existing literature on the role of CSR in firm resilience and provide evidence of the impact of CSR on stock returns during times of crisis. Journal: Int. J. of Business Governance and Ethics Pages: 275-300 Issue: 3/4 Volume: 19 Year: 2025 Keywords: corporate social responsibility; CSR; COVID-19; event study; abnormal returns. File-URL: http://www.inderscience.com/link.php?id=146330 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:19:y:2025:i:3/4:p:275-300 Template-Type: ReDIF-Article 1.0 Author-Name: Nguyen Vinh Khuong Author-X-Name-First: Nguyen Vinh Author-X-Name-Last: Khuong Author-Name: Le Huu Tuan Anh Author-X-Name-First: Le Huu Tuan Author-X-Name-Last: Anh Author-Name: Luong Ho Quynh Giang Author-X-Name-First: Luong Ho Quynh Author-X-Name-Last: Giang Author-Name: Le Thi Thuan An Author-X-Name-First: Le Thi Thuan Author-X-Name-Last: An Author-Name: Nguyen Le Ngoc Hang Author-X-Name-First: Nguyen Le Ngoc Author-X-Name-Last: Hang Author-Name: Pham Van Nguyen Author-X-Name-First: Pham Van Author-X-Name-Last: Nguyen Author-Name: Huynh Le Hoang Nhi Author-X-Name-First: Huynh Le Hoang Author-X-Name-Last: Nhi Title: Business strategy, enterprise risk management, organisational innovation performance and organisational performance: comparing fsQCA with PLS-SEM Abstract: The purpose of this research is to clarify the relationship between business strategy (BS), enterprise risk management (ERM), organisational innovation performance (OIP), and organisational performance (OP) in Vietnam. We also compare the PLS-SEM findings to a recently developed panel data fuzzy-set qualitative comparative analysis technique (fsQCA). According to the findings, the BS factor has a substantial impact on OP. The ERM factor mediates the relationship between BS and OP along with the relationship between BS and OIP. In the link between BS and OP, as well as the relationship between ERM and OP, the OIP factor serves as an intermediate. This work adds to the scientific literature by providing empirical evidence with a deeper understanding of the level of influence and importance of using a combination of BS and risk management implementation to improve OP in the market. Journal: Int. J. of Business Governance and Ethics Pages: 406-431 Issue: 3/4 Volume: 19 Year: 2025 Keywords: business strategy; organisational innovation performance; OIP; organisational performance; enterprise risk management; ERM. File-URL: http://www.inderscience.com/link.php?id=146331 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:19:y:2025:i:3/4:p:406-431 Template-Type: ReDIF-Article 1.0 Author-Name: Issal Haj-Salem Author-X-Name-First: Issal Author-X-Name-Last: Haj-Salem Author-Name: Salma Damak-Ayadi Author-X-Name-First: Salma Author-X-Name-Last: Damak-Ayadi Author-Name: Fatma Ouertani Author-X-Name-First: Fatma Author-X-Name-Last: Ouertani Title: Board diversity and corporate risk disclosure during the COVID-19 outbreak Abstract: We investigate the impact of board diversity on corporate risk disclosure practices during the COVID-19 health crisis. We used manual content analysis to measure the risk disclosure on the websites of 91 French-listed companies. We found a positive relationship between risk disclosure and, respectively, the COVID-19 health crisis and the diversity of expertise within the board. We also found a negative and significant impact of the presence of women on the board of directors, diversity of nationalities, and the tenures' term, on risk disclosure. To the best of our knowledge, this research is the first study that, firstly, investigated the impact of board diversity on risk disclosure, secondly, to be investigated during the COVID-19 crisis and, thirdly, relied on corporate websites. The empirical findings make both the regulators and managers aware of the board diversity attributes that have to be reinforced to promote risk disclosure, particularly during health crises. Journal: Int. J. of Business Governance and Ethics Pages: 338-362 Issue: 3/4 Volume: 19 Year: 2025 Keywords: risk disclosure; COVID-19; board diversity; content analysis; websites. File-URL: http://www.inderscience.com/link.php?id=146332 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:19:y:2025:i:3/4:p:338-362 Template-Type: ReDIF-Article 1.0 Author-Name: Shamima Ahmed Author-X-Name-First: Shamima Author-X-Name-Last: Ahmed Author-Name: Rima Assaf Author-X-Name-First: Rima Author-X-Name-Last: Assaf Author-Name: Molla Ramizur Rahman Author-X-Name-First: Molla Ramizur Author-X-Name-Last: Rahman Title: How do global financial markets react to the variants of the COVID-19? Abstract: Previous studies have explored the impact of COVID-19 on financial markets. However, it fails to examine the different variants of concerns (VOCs) of COVID-19 on financial markets. As these VOCs have varying severity on public health with heterogeneity in behaviour across stock markets of different geographies, our study analyses the effects of these VOCs such as Alpha, Beta, Gamma, Delta, and Omicron on the global financial markets. The study uses the ten most-affected countries' stock market daily returns to examine the effects of the VOCs on the financial markets. The stock returns of Brazil, France, Germany, India, Italy, Russia, Spain, Turkey, the UK, and the USA are negatively affected by the first wave of the COVID-19 pandemic. However, other variants of concern of the COVID-19 do not affect the global financial markets except for the Delta variant affecting the Brazilian Stock Market negatively. Unlike during the first wave of the pandemic which negatively affected the financial markets, the effects on global financial markets became subdued during the later phases of the pandemic. Journal: Int. J. of Business Governance and Ethics Pages: 320-337 Issue: 3/4 Volume: 19 Year: 2025 Keywords: financial contagion; spillover; variants of concern VOCs; COVID-19; pandemic. File-URL: http://www.inderscience.com/link.php?id=146333 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:19:y:2025:i:3/4:p:320-337 Template-Type: ReDIF-Article 1.0 Author-Name: Jeevesh Sharma Author-X-Name-First: Jeevesh Author-X-Name-Last: Sharma Author-Name: Suvendu Kumar Pratihari Author-X-Name-First: Suvendu Kumar Author-X-Name-Last: Pratihari Author-Name: Suhasini Verma Author-X-Name-First: Suhasini Author-X-Name-Last: Verma Title: Environmental disclosure and financial performance: an analysis of carbonex indexed companies in India Abstract: With the increasing rate of global warming and climate change, firms' approach toward a better environment is a recent topic of research. The present study analyses firm's environmental disclosure by preparing an index of five dimensions followed by examining their causal relationship with firms' financial performance. The study adopts content analysis to measure the environmental performance reporting of firms listed in the Indian Bombay Stock Exchange (BSE) carbonex index. The study contributes to the existing environmental performance and financial performance literature in multi-fold. The results provide the extent to which the specified dimensions are disclosed in the reports and demonstrate that firms' environmental disclosure among identified dimensions is not balanced. The results also indicate a significant association between environmental and financial performance. The findings provide new insights to managers, policymakers, and regulators as a rationale for firms' comprehensive environmental disclosure reporting standards and go beyond the limits of sustainability reporting. Journal: Int. J. of Business Governance and Ethics Pages: 457-494 Issue: 3/4 Volume: 19 Year: 2025 Keywords: environment performance index; carbon disclosure; greenhouse gas emission; GHG; environment disclosure; carbonex index; corporate social responsibility; CSR; India. File-URL: http://www.inderscience.com/link.php?id=146334 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:19:y:2025:i:3/4:p:457-494 Template-Type: ReDIF-Article 1.0 Author-Name: Nawazish Mirza Author-X-Name-First: Nawazish Author-X-Name-Last: Mirza Author-Name: Jasmina Mangafić Author-X-Name-First: Jasmina Author-X-Name-Last: Mangafić Author-Name: Muhammad Umar Author-X-Name-First: Muhammad Author-X-Name-Last: Umar Author-Name: Danijela Martinović Author-X-Name-First: Danijela Author-X-Name-Last: Martinović Title: The impact of governance on equity funds' performance during stable and turbulent market conditions Abstract: There is scant literature that explores the impact of corporate governance on the performance of equity funds. Furthermore, the evidence is non-existent for emerging markets and in this study; we address this void by assessing the impact of corporate governance on funds' performance. Using the Morningstar Stewardship grades, we segregate the equity funds with exposure in emerging markets into high and low-governance funds. The study employs a comprehensive sample between 2012 and 2021 to evaluate the comparative risk adjustment performance and market and volatility timing ability of these funds. Our findings reveal that better-governed funds exhibit higher risk-adjusted returns and demonstrate superior market and volatility timing compared to their counterparts. The results remained robust during the pandemic outbreak highlighting an even more profound role of governance for mutual funds. These findings have actionable implications for the mutual fund industry that can help in optimising fiduciary responsibilities. Journal: Int. J. of Business Governance and Ethics Pages: 301-319 Issue: 3/4 Volume: 19 Year: 2025 Keywords: equity funds; corporate governance; COVID-19; market timing; volatility timing. File-URL: http://www.inderscience.com/link.php?id=146335 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:19:y:2025:i:3/4:p:301-319 Template-Type: ReDIF-Article 1.0 Author-Name: Varun Kumar Rai Author-X-Name-First: Varun Kumar Author-X-Name-Last: Rai Author-Name: Madan Lal Author-X-Name-First: Madan Author-X-Name-Last: Lal Title: International trade and exchange rate during war: a retrospective review Abstract: The main purpose of this review is to find the effect of war on the international trade and exchange rate, based on the analysis of 126 Scopus published documents using VOSviewer before that performance analysis reveals that during 2010-2020 more documents have published while the more citations received by the documents published during 1990-2000. Of these publications only 46.04% publications are in collaboration and 1.59% documents have received at least 100 citations. The article (Klemperer, 1995) is most influential article in this study. The network analysis presents the co-authorship analysis where the USA has highest link strength and co-authored with the UK and Germany. Further, the author keyword co-occurrence analysis and bibliographic coupling reveals the four different thematic clusters. The major limitation of this review is that it considers war in general and includes the data only from Scopus database. Journal: Int. J. of Business Governance and Ethics Pages: 251-274 Issue: 3/4 Volume: 19 Year: 2025 Keywords: VOSviewer; bibliometric; international trade; war; exchange rate. File-URL: http://www.inderscience.com/link.php?id=146336 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:19:y:2025:i:3/4:p:251-274 Template-Type: ReDIF-Article 1.0 Author-Name: Brajaballav Pal Author-X-Name-First: Brajaballav Author-X-Name-Last: Pal Author-Name: Sanjib Das Author-X-Name-First: Sanjib Author-X-Name-Last: Das Author-Name: Poulomi Roy Author-X-Name-First: Poulomi Author-X-Name-Last: Roy Title: Does managerial pay depend on financial performance, organisational characteristics, and governance? Evidence from the Indian manufacturing sector Abstract: The present paper attempts to examine the impact of financial performance, corporate characteristics, and governance mechanisms on managerial compensation as well as the linkage between them in selected 90 Indian companies from the NSE-listed manufacturing sector for the period 2010 to 2020. For the purpose of analysis of the study, we have used descriptive analysis, correlation matrix, and panel regression analysis. The outcome of the study shows that market-based performance, corporate characteristics, and governance mechanisms significantly impact managerial compensation. The findings of the study are robust to the deployment of GMM-based approaches. It is worth mentioning that present compensation has been fixed by the management, taking into consideration the previous managerial compensation, along with the impact of firm size, debt-equity, the board size, and market-based performance. Journal: Int. J. of Business Governance and Ethics Pages: 388-405 Issue: 3/4 Volume: 19 Year: 2025 Keywords: executives pay; corporate performance; governance; dynamic panel data; GMM. File-URL: http://www.inderscience.com/link.php?id=146337 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:19:y:2025:i:3/4:p:388-405 Template-Type: ReDIF-Article 1.0 Author-Name: Omar Ahmad Ali Jarwan Author-X-Name-First: Omar Ahmad Ali Author-X-Name-Last: Jarwan Author-Name: Arifatul Husna Mohd Ariff Author-X-Name-First: Arifatul Husna Mohd Author-X-Name-Last: Ariff Author-Name: Fathiyyah Binti Abu Bakar Author-X-Name-First: Fathiyyah Binti Abu Author-X-Name-Last: Bakar Title: The level of corporate philanthropy disclosure in the context of Jordan Abstract: This paper determines the extent of corporate philanthropy disclosure (CPD) in Jordan. An analytical study was undertaken for the financial years 2015 until 2020 to give us an overview of the disclosure of corporate philanthropy activities in the annual reports of the 101 companies in the financial sector in the companies listed in Amman stock exchange. The data was based on secondary sources. The result emphasised that the company in Jordan is concerned about corporate philanthropy responsibility. The results indicate that the bank sector has the highest disclosure about CPD compared with diversified financial services sector. Besides, the result showed variation in the disclosure of corporate philanthropy in the Jordanian context. This paper provides insight and understanding of CPD areas in Jordanian companies. This paper developed the index of CPD into 26 dimensions which are considered comprehensive. Journal: Int. J. of Business Governance and Ethics Pages: 363-387 Issue: 3/4 Volume: 19 Year: 2025 Keywords: philanthropy; corporate philanthropy disclosure; CPD; Amman stock exchange. File-URL: http://www.inderscience.com/link.php?id=146338 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:19:y:2025:i:3/4:p:363-387 Template-Type: ReDIF-Article 1.0 Author-Name: George Giannopoulos Author-X-Name-First: George Author-X-Name-Last: Giannopoulos Author-Name: Vita Spurgeon Author-X-Name-First: Vita Author-X-Name-Last: Spurgeon Author-Name: Mahmoud Elmarzouky Author-X-Name-First: Mahmoud Author-X-Name-Last: Elmarzouky Title: The impact of mergers and acquisitions on shareholder wealth of acquiring companies in the mining industry Abstract: This study explores the impact of mergers and acquisitions (M&As) on acquirer shareholders' wealth in the global mining industry. Using an event study approach on a sample of 9,806 M&A deals from 1990 to 2014, we find that mining industry acquirers generally experience positive abnormal returns (AR) around the announcement date. Notably, the M&A wealth effect varies significantly based on specific deal characteristics. Cross-border acquisitions, focus-increasing acquisitions, and acquisitions resulting in full ownership of the target yield higher abnormal returns. Conversely, large deals often result in lower returns. These findings highlight the role of strategic decision-making in M&A transactions within the mining industry, with implications for both industry practitioners and policymakers. Journal: Int. J. of Business Governance and Ethics Pages: 432-456 Issue: 3/4 Volume: 19 Year: 2025 Keywords: shareholders' wealth; mining industry; mergers and acquisitions; M&A. File-URL: http://www.inderscience.com/link.php?id=146341 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:19:y:2025:i:3/4:p:432-456 Template-Type: ReDIF-Article 1.0 Author-Name: Muzalifah Muzalifah Author-X-Name-First: Muzalifah Author-X-Name-Last: Muzalifah Author-Name: Kamsi Kamsi Author-X-Name-First: Kamsi Author-X-Name-Last: Kamsi Author-Name: Ali Sodiqin Author-X-Name-First: Ali Author-X-Name-Last: Sodiqin Title: Micro, small and medium enterprises recovery policy after COVID-19 pandemic: case study in developing and developed countries affected by COVID-19 Abstract: This article aims to map and explore the effect of the COVID-19 pandemic on the development and economic recovery policies of post-pandemic micro, small, and medium enterprises in developing and developed countries. This study uses a qualitative method, with literature studies taken from several sources, including print and electronic media, books, research findings, and the authorities' reports on the official website regarding the COVID-19 handling. Data analysis has four stages, which are data collection, condensation, presentation, and conclusion. The results of the study show that the pandemic has attacked all sectors of the MSME economy in several countries, including developed and developing countries. The policies used in the economic recovery of MSMEs in several countries affected by COVID-19 tend to be the same. The difference lies in the priority of the procedures that must be completed, namely: prioritising economic considerations over social or vice versa and economic-social considerations simultaneously. Journal: Int. J. of Business Governance and Ethics Pages: 500-515 Issue: 5 Volume: 19 Year: 2025 Keywords: micro, small and medium enterprises; MSMEs; economic recovery; COVID-19. File-URL: http://www.inderscience.com/link.php?id=148306 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:19:y:2025:i:5:p:500-515 Template-Type: ReDIF-Article 1.0 Author-Name: Vijaya Sinha Author-X-Name-First: Vijaya Author-X-Name-Last: Sinha Author-Name: Shinu Vig Author-X-Name-First: Shinu Author-X-Name-Last: Vig Title: Leveraging CSR to achieve SDGs during COVID-19: a study of selected Indian companies Abstract: COVID-19 posed an enormous socio-economic crisis and decelerated the attainment of sustainable development goals (SDGs). Indian companies, through their corporate social responsibility (CSR) initiatives, helped the country fight against the pandemic. This study examines the relief measures undertaken through CSR during COVID-19 by the Indian corporate sector. This paper elucidates the intrinsic connection that exists among the endeavours of the Indian corporate sector with respect to CSR and their harmonisation with the SDGs. The relief measures undertaken during 2020-2022 were examined through an in-depth content analysis of 100 NSE-listed companies and were mapped with SDGs to assess the potential of CSR in achieving them. Findings revealed that out of 17 goals of SDGs, 11 goals were targeted through CSR activities. The study finds an association between CSR and SDGs and, therefore suggests CSR, as a major assisting tool for the government in the attainment of SDGs. Journal: Int. J. of Business Governance and Ethics Pages: 516-538 Issue: 5 Volume: 19 Year: 2025 Keywords: COVID-19; sustainable development goals; SDG; corporate social responsibility; CSR; NIFTY 100; India. File-URL: http://www.inderscience.com/link.php?id=148309 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:19:y:2025:i:5:p:516-538 Template-Type: ReDIF-Article 1.0 Author-Name: Syed Asim Ali Bukhari Author-X-Name-First: Syed Asim Ali Author-X-Name-Last: Bukhari Author-Name: Syeda Nazish Zahra Bukhari Author-X-Name-First: Syeda Nazish Zahra Author-X-Name-Last: Bukhari Title: Social responsibility through responsible banking strategy Abstract: The purpose of this study is to empirically examine the outcomes of responsible banking strategy. This study is aimed to highlight the various benefits responsible banking to facilitate its adoption in Pakistan. The research framework was based on the natural resource-based view of the firm. The study adopted a quantitative methodology in which data was collected through self-administered questionnaires through the survey method. The unit of analysis was bank branch and branch managers were the respondents of the study. This study conducted a disjoint two-stage analysis for the higher-order dependent variable, i.e., responsible banking. The findings of the study showed a positive relationship between the adoption of responsible banking practices by the bank branches and ecological, operational, social, and financial outcomes. The strongest influence of responsible banking was on the branch's operational outcomes, which highlighted the importance of these benefits in the eyes of the branch manager. Journal: Int. J. of Business Governance and Ethics Pages: 539-562 Issue: 5 Volume: 19 Year: 2025 Keywords: ecological outcomes; financial outcomes; green banking; higher-order construct; operational outcomes; Pakistan banking industry; responsible banking; social outcomes; two-stage analysis. File-URL: http://www.inderscience.com/link.php?id=148311 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:19:y:2025:i:5:p:539-562 Template-Type: ReDIF-Article 1.0 Author-Name: Puja Kaura Author-X-Name-First: Puja Author-X-Name-Last: Kaura Author-Name: Ambuj Gupta Author-X-Name-First: Ambuj Author-X-Name-Last: Gupta Title: Corporate governance mechanisms and integrated reporting: evidence from Indian companies Abstract: Integrated reporting (IR) is a reporting format that companies are adopting to fulfil the need for comprehensive information arising from global competition, regulatory requirements, and stakeholders' expectations. Previous research revealed that corporate governance (CG) variables, including board size, gender diversity, frequency of board meetings, audit committee, and board independence, contribute significantly to IR quality. However, most of these studies concentrated on developed economies, underlining a research gap in developing economies such as India, where IR is still in its voluntary adoption phase. This study examines the relationship between CG variables and the extent of disclosures in integrated reports of 80 Indian companies listed in the BSE S&P 100 Index between 2020 to 2022. Results uncovered that all variables positively and significantly impacted level of disclosure, with board independence having the most significant impact, followed by frequency of board meetings and board size. This highlights the significance of considering CG variables while transitioning to IR for enhancing stakeholder relationships. Journal: Int. J. of Business Governance and Ethics Pages: 563-581 Issue: 5 Volume: 19 Year: 2025 Keywords: integrated reporting; agency theory; regression analysis; corporate governance. File-URL: http://www.inderscience.com/link.php?id=148316 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:19:y:2025:i:5:p:563-581 Template-Type: ReDIF-Article 1.0 Author-Name: Surbhi Jain Author-X-Name-First: Surbhi Author-X-Name-Last: Jain Author-Name: Teena Bagga Author-X-Name-First: Teena Author-X-Name-Last: Bagga Title: Environmental, social and governance performance and firm value: new evidence from Indian firms Abstract: The current empirical research investigates the impact of overall ESG performance and environmental score, social score and governance score individually on firm value. Our large dataset covering varied industries enabled us to comprehend and evaluate implication of ESG score on various aspects of firm value. The research provides important empirical evidence regarding positive and significant relationship between overall ESG score and firm value. This highlights the importance of considering ESG factors in evaluating a firm's performance. Additionally, the study revealed that environmental score, social score and governance score individually are positively and significantly related to firm value. Hence, it is important for firms to prioritise and improve their ESG performance across all dimensions to enhance their overall success and profitability. Journal: Int. J. of Business Governance and Ethics Pages: 582-596 Issue: 5 Volume: 19 Year: 2025 Keywords: ESG performance; firm value; Tobin's Q; corporate governance; multiple regression analysis. File-URL: http://www.inderscience.com/link.php?id=148332 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:19:y:2025:i:5:p:582-596 Template-Type: ReDIF-Article 1.0 Author-Name: Naima Lassoued Author-X-Name-First: Naima Author-X-Name-Last: Lassoued Author-Name: Imen Khanchel Author-X-Name-First: Imen Author-X-Name-Last: Khanchel Title: Making anti-takeover provisions a bulwark of financial stability for hospitality firms during the COVID-19 crisis Abstract: This study examines the impact of anti-takeover provisions (ATPs) on mitigating default risk among firms within the hospitality industry during the pandemic. The sample includes 253 firms from the hospitality sector and closely related industries. The results show that the adoption of ATPs is associated with a reduced default risk during the pandemic, suggesting that hospitality firms implementing ATPs exhibit increased resilience to the health crisis and have effectively navigated the adverse impacts of the pandemic. These findings remain robust and consistent through a series of rigorous robustness checks. Journal: Int. J. of Business Governance and Ethics Pages: 597-615 Issue: 5 Volume: 19 Year: 2025 Keywords: hospitality industry; ATPs; COVID-19; Z-score. File-URL: http://www.inderscience.com/link.php?id=148333 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:19:y:2025:i:5:p:597-615 Template-Type: ReDIF-Article 1.0 Author-Name: Kari Huhtala Author-X-Name-First: Kari Author-X-Name-Last: Huhtala Author-Name: Terhi Saarijärvi Author-X-Name-First: Terhi Author-X-Name-Last: Saarijärvi Title: To conform or to perform - the dilemma of director's attributes in agricultural cooperatives Abstract: Research related to cooperative boards has highlighted dilemmas and tensions related to board characteristics and director's simultaneous role as representatives of membership groups and as board experts. Cooperative scholars' views have differed on the roles of directors emerging from the membership and elected from outside the cooperative. This study focused on 16 Finnish agricultural cooperatives, and the data was based on interviews with 32 chairpersons. The study utilises a stepwise qualitative analysis in bringing out three dilemmas related to director's attributes, which are coupled to board's conformance and performance roles. The dilemmas are linked to representativeness and the need for competence, selecting a candidate from internal governance or from membership and gender quota opposition and gender as a resource. The results indicate that regional representativeness and the director's experience from internal governance are important. The right type of person with wide perspective is a significant attribute whereas external board experts are approached with cautiousness. Despite the cooperatives' desire to improve gender balance, they have a negative attitude towards gender quotas. The results disclose specific differences across diverse types of cooperatives. Journal: Int. J. of Business Governance and Ethics Pages: 1-23 Issue: 7 Volume: 19 Year: 2025 Keywords: agricultural; cooperative governance; board; attributes; director. File-URL: http://www.inderscience.com/link.php?id=149014 File-Format: text/html File-Restriction: Open Access Handle: RePEc:ids:ijbget:v:19:y:2025:i:7:p:1-23 Template-Type: ReDIF-Article 1.0 Author-Name: Abdelrahman J.K. Alfar Author-X-Name-First: Abdelrahman J.K. Author-X-Name-Last: Alfar Author-Name: Raad Al-Tal Author-X-Name-First: Raad Author-X-Name-Last: Al-Tal Author-Name: Mohamed Elheddad Author-X-Name-First: Mohamed Author-X-Name-Last: Elheddad Title: The relationship between Arab Spring and income: does governance matter? Evidence from Egypt and Tunisia Abstract: The Arab Spring was a series of anti-government protests, uprisings and armed rebellions that spread across much of the Arab world in the early 2010s. It began in Tunisia in response to corruption and economic stagnation. This study aims to examine the causal inference of the Arab Spring in Tunisia and Egypt on economic growth using the difference-in-differences (DiD) approach. Besides, it explains a mechanism of how similar conflicts can have different effects among economies. Empirical evidence shows that the Arab Spring had a positive impact on economic growth in both countries. However, when the Arab Spring interacted with the governance indicator the results varied. In Egypt, governance effectiveness has a positive impact on economic growth. For Tunisia, voice accountability promotes economic growth. These results challenge the conventional empirical results about the negative effects of the Arab Spring on economic growth. This line of research could help policymakers develop better tools to alleviate the negative impacts of revolutions. Journal: Int. J. of Business Governance and Ethics Pages: 617-633 Issue: 6 Volume: 19 Year: 2025 Keywords: Arab Spring; economic growth; difference-in-differences; DiD; governance; Egypt; Tunisia. File-URL: http://www.inderscience.com/link.php?id=149820 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:19:y:2025:i:6:p:617-633 Template-Type: ReDIF-Article 1.0 Author-Name: Anastasia Nassauer Author-X-Name-First: Anastasia Author-X-Name-Last: Nassauer Title: Challenges of combining non-profit and commercial organisational forms: evidence from ethical banks Abstract: This paper examines internal and external challenges experienced by ethical banks, which combine multiple organisational forms in their simultaneous pursuit of economic profitability and social profitability. It features the global alliance for banking on values (GABV) and adopts a qualitative methodology based on interviews, participant observations and broad sources of secondary data. The research contributes to the existing literature on multiple form organisations and ethical banks by providing a detailed account of challenges brought up by their attempts to include social objectives alongside economic benefits. Evidence from this study suggests that democratic governance structures, models of ethical assessment of investments, accountability strategies and community relations techniques experience the greatest pressures in ethical banks. Journal: Int. J. of Business Governance and Ethics Pages: 634-648 Issue: 6 Volume: 19 Year: 2025 Keywords: ethical banks; responsible investment; non-profit organisations; commercial organisations. File-URL: http://www.inderscience.com/link.php?id=149821 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:19:y:2025:i:6:p:634-648 Template-Type: ReDIF-Article 1.0 Author-Name: Ali Uyar Author-X-Name-First: Ali Author-X-Name-Last: Uyar Author-Name: Cemil Kuzey Author-X-Name-First: Cemil Author-X-Name-Last: Kuzey Author-Name: Mondher Bouattour Author-X-Name-First: Mondher Author-X-Name-Last: Bouattour Title: The moderating effect of public governance on the relationship between corporate governance and stock market development Abstract: This study tests the moderating effect of public governance on the association between corporate governance and stock market development. The sample size was 540 country-year records (54 countries × 10 years), and GMM and Threshold regression analysis were run. The findings confirm that corporate governance is a significant predictor of stock market development in terms of both size and liquidity. Stock markets develop with strong auditing and reporting standards, strong shareholder protection, and efficient corporate boards. Moderation effect analyses indicate that corporate governance and public governance are sometimes substitutes and sometimes complement each other depending on the type of stock market development proxy. The complementary effect implies that corporate governance and public governance should co-exist, whereas substitutive effect suggests that corporate governance is influential and sufficient in case of weak public regulatory quality. Policymakers can configure regulatory framework, corporate governance codes and market-related regulations to stimulate investment in stock markets. Journal: Int. J. of Business Governance and Ethics Pages: 671-703 Issue: 6 Volume: 19 Year: 2025 Keywords: public governance; regulatory quality; corporate governance; stock market development; complementary effect; substitutive effect. File-URL: http://www.inderscience.com/link.php?id=149822 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:19:y:2025:i:6:p:671-703 Template-Type: ReDIF-Article 1.0 Author-Name: Fahad Khalid Author-X-Name-First: Fahad Author-X-Name-Last: Khalid Author-Name: Mohit Srivastava Author-X-Name-First: Mohit Author-X-Name-Last: Srivastava Author-Name: Khwaja Naveed Author-X-Name-First: Khwaja Author-X-Name-Last: Naveed Author-Name: Xinhui Sun Author-X-Name-First: Xinhui Author-X-Name-Last: Sun Title: Role of eco-management practices in determining corporate sustainable development in China: a resource-based perspective Abstract: This study examines the impact of eco-management practices (EMPs) on corporate sustainable development (Wbcsd) within the Chinese A-share-listed companies from 2010 to 2019, based on a dataset comprising 7,948 firm-year observations. The findings reveal compelling insights regarding three specific EMPs: environmental innovation (EI), eco-management certification (EMC), and eco-management training (EMT). Notably, EI demonstrates a significant positive influence on CSD within environmentally sensitive industries while negatively impacting non-sensitive sectors. In contrast, EMC consistently positively and significantly affects CSD, regardless of sectoral environmental sensitivity. Intriguingly, EMT shows a pronounced influence on CSD in non-sensitive sector firms. These results emphasise the integral role of EMPs in driving CSD and highlight the importance of environmental sensitivity in determining the effectiveness of EMPs. Consequently, firms with a greater environmental focus benefit significantly from implementing EMPs, particularly EI, while EMC emerges as a universal driver of CSD across sectors. These findings underscore the significance of proactive EMPs, such as EI, EMC, and EMT, in fostering corporate sustainability and suggest avenues for further research to explore additional strategies that enhance sustainable business practices. Journal: Int. J. of Business Governance and Ethics Pages: 704-732 Issue: 6 Volume: 19 Year: 2025 Keywords: eco-management; environmental innovation; EI; eco-management certification; EMC; eco-management training; EMT; corporate sustainable development; Wbcsd; resources. File-URL: http://www.inderscience.com/link.php?id=149823 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:19:y:2025:i:6:p:704-732 Template-Type: ReDIF-Article 1.0 Author-Name: Ozigi Omoyi Obeitoh Author-X-Name-First: Ozigi Omoyi Author-X-Name-Last: Obeitoh Author-Name: Ismaila Yusuf Author-X-Name-First: Ismaila Author-X-Name-Last: Yusuf Author-Name: Mamdouh Abdulaziz Saleh Al-Faryan Author-X-Name-First: Mamdouh Abdulaziz Saleh Author-X-Name-Last: Al-Faryan Title: Effects of board and audit committee characteristics on audit delay in the Nigerian oil and gas sector Abstract: This study investigates the relationship between the effects of board and audit committee characteristics on audit delay in the Nigerian oil and gas sector. The study adopts Driscoll and Kraay statistical regression model with ten-year panel data for seven oil and gas firms in Nigeria. Our findings reveal the effects of board and audit committee characteristics on audit delay. Specifically, our study reveals that board independence, audit committee independence, audit committee meeting and the financial expertise of women on audit committees reduce audit delay, which promotes financial reporting timeliness while board size and board meeting have no significant association with audit delay. The findings of this study confirm agency and resource dependence theories. The findings of this study emphasise the importance of board and audit committee characteristics in mitigating audit delay. Journal: Int. J. of Business Governance and Ethics Pages: 733-753 Issue: 6 Volume: 19 Year: 2025 Keywords: audit delay; board size; board independence; board meeting; audit committee independence. File-URL: http://www.inderscience.com/link.php?id=149824 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:19:y:2025:i:6:p:733-753 Template-Type: ReDIF-Article 1.0 Author-Name: Erin Leitheiser Author-X-Name-First: Erin Author-X-Name-Last: Leitheiser Title: Shared goals, different logics: comparison of multi-stakeholder and business-led initiatives as private governance models Abstract: Multi-stakeholder initiatives (MSIs) and business-led initiatives (BLIs) constitute the predominant models of private governance through which corporations engage to manage sustainability challenges, especially in their supply chains. Yet, little is known about the differences between the models or the implications thereof. This study compares MSIs and BLIs through an institutional logics lens to understand their differences and theorise about their potential to address sustainability challenges. Is it better to give a hungry person a fish or a fishing rod, and when? Using the case of the Bangladesh garment industry, this study compares a MSI and BLI which arose simultaneously and shared the same broad goals but conducted their work in very different ways. It develops a framework of differing logics of private governance, finding that MSIs embody a collective logic, well suited for addressing systemic issues and process rights, while BLIs exemplify a benevolent logic, befitting for narrowly-defined problems and measurable outcomes. Journal: Int. J. of Business Governance and Ethics Pages: 649-670 Issue: 6 Volume: 19 Year: 2025 Keywords: Bangladesh; business-led initiatives; BLIs; corporate social responsibility; institutional logics; multi-stakeholder initiatives; MSIs; private governance. File-URL: http://www.inderscience.com/link.php?id=149871 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbget:v:19:y:2025:i:6:p:649-670