Dimensions Of Governance Research Articles

Does Antitakeover Provision Harm Shareholders? Indexing for Antitakeover Provisions in China

Abstract Does antitakeover harm shareholders? Encumbered by a multitude of theoretical perspectives, the legality of antitakeover remains a shared intellectual inquiry that the A-share market has yet to fully address. This paper constructs a governance index for the A-share market based on a manually collected and hand-coded research dataset (C-index). This dataset, comprising 4251 historical firm-level profiles of Antitakeover Provisions (ATPs), is meticulously sampled from companies listed in China from 2001 to 2017. The study investigates the logical correlation between antitakeover strength, financial performance, and the governance attributes of the company by leveraging the index’s economic utility. Additionally, this paper explores the firm-level factors that prompt corporate directors to integrate ATPs. From an empirical standpoint, it provides evidence that the governance index of firm-level strength of ATPs is positively correlated with share liquidity, institutional shareholding, private ownership, and the company’s commitment to achieving specific financial performance.

Does trade openness improve or worsen public governance in sub-Saharan Africa?

The literature on the effect of trade openness on public governance shows contrasting results. Using a renewed empirical strategy, we contribute to the understanding of this indeterminacy by studying the influence of trade openness on public governance in Sub-Saharan Africa. We also examine how this effect varies with structural characteristics that may be subject to reforms. In this respect, we use an original measure of trade openness. We consider public governance and its three dimensions, namely economic governance, political governance, and institutional governance. Overall, we find that trade openness improves public governance, political governance, and economic governance. On the other hand, it worsens institutional governance. Moreover, these effects of trade openness on the dimensions of public governance depend on the defined levels of technology transfer, foreign direct investment, and natural resources. Our results are robust to different openness and governance indicators, alternative specifications, study periods, endogeneity, and cross-sectional dependence. Above all, they highlight the interest of dissociating public governance to understand the contrast observed in the empirical literature.

Nguyen Model of Caring and Professional Governance in Nursing: A Conceptual Framework

The concepts of caring and professional governance in nursing and their discrete associations with patient outcomes are widely studied. At present, little to no research has been published on the nature of the relationship between the two concepts. Adaptations of two established caring theories and defining attributes of professional governance guide a caring and professional governance conceptual framework. Descriptions of theories and attributes elucidate the overall description of the framework. Understanding the relationship between caring and professional governance in nursing enables exploration of the combined relational impact on practice and outcomes. The conceptual framework provides an evidence-based foundation to this work.

The energy quadrilemma challenges - Insights from the decentralized energy transition in Brazil

The energy trilemma concept provides an important framework for understanding the multidimensional nature of energy policy and planning. It captures three fundamental challenges that highlight the complex interrelationships among energy security, equity, and sustainability. However, effectively addressing these challenges requires a refined understanding of local contexts, regional differences, and governance. This study expands this framework by introducing a context dimension that includes socioeconomic, environmental, and governance factors to complement the Energy Trilemma Index, resulting in the "energy quadrilemma." This framework allows for a more comprehensive examination of regional energy transition challenges in Brazil. The results reveal significant regional disparities, highlighting energy access as a source of socio-spatial inequality in Brazil. The Northeast region excels in energy security, while the Southeast lags in electricity independence. The South, Southeast, and Midwest have outstanding energy equity and environmental sustainability scores. Context indicators exhibit low scores in all regions, particularly in the North and Northeast. In addition, areas with the highest poverty scores have also limited digital access. These findings highlight the need for effective strategies and policies to address the multifaceted challenges of the energy quadrilemma, integrating socioeconomic and governance dimensions to advance energy transitions and planning at the regional level.

The Impact of ESG Participation on Firm Innovation: Empirical Findings from International Data

This paper is to explore the association between environmental, social, and governance (ESG) dimensions and corporate innovative activities. Given that existing literature in the relationship between ESG and firm performance to date offers no clearly consistent empirical results and large-scale sample studies based on global companies remain scarce, this paper aims to offer a fresh and noteworthy insight about relationship between the ESG and innovation in recent times when ESG has been considered as important tenets of management because of the ESG’s enormous significance for corporate solid performance and sound development of capital markets. To test the hypotheses derived from the theoretical reasoning, this paper selected ESG indicators and financial data of global companies from 1999 to 2009 based on the relationship between ESG activities and corporate innovation, and the effects on corporate innovative product development performance are analyzed according to detailed ESG activities by logistic regression analysis. The study found that positive environmental and social activities appear to enhance innovation outputs by firms in various industries. These results indicate that the firms challenged by environmental issues respond with assertive innovative activities and the firms’ efforts to stimulate certain types of social activities are reflected in a higher level of innovation. Supporting the complex relationship between ESG activities and corporate innovation performance, the findings will help firms’ decision-makers, stakeholders, as well as academics, to improve their awareness of the impact of ESG activities on the innovation performance of the firm, both as a comprehensive factor and individually by pillar.

Corporate Governance and Credit Rating of Islamic Banks: Moderating Role of Shariah Governance Attributes

Shariah governance is the mechanism to monitor and implicate shariah compliance in Islamic banks. The study’s goal of exploring the Islamic bank’s governance attributes and credit scores or rating relationship in the presence of shariah board attributes as moderators. The study collected time-variant data from 22 Asian banks (286 observations) from 2006 to 2018. Applied descriptive statistics, correlations, Likelihood Ratio (LR) test and the Ordered Logistic Regression model, a suitable technique for the ordinal dependent variable. The study findings provide evidence of shariah governance’s moderating role in the relationship between corporate governance attributes and credit rating. Moreover, shariah board characteristics strengthen the association between the corporate board and credit worthiness nexus. This research recommends that credit score evaluating agencies consider the shariah governance characteristics in evaluating Ib’s credit rating. The shariah governance attributes as part of credit rating can be an appropriate method for investors to measure the shariah compliance level of Ibs. Accordingly, Ibs can gain the confidence of investors or sukuk investors by improving shariah compliance and can access competitive fund sources. The study’s uniqueness is in determining the impact of shariah governance attributes as moderators on the board-rating nexus. This study suggested that credit rating agencies revise or amend their assessment procedures for Ibs. Abundant literature is available from the owner’s point of view. Nonetheless, this research explores governance and shariah governance attributes concerning Sukuk holders.

Analysis of Microfinancing in the Development of MSME Customers

Sharia banks primarily operate in accordance with Islamic law, which is based on concepts of fairness, balance, benefit, and the avoidance of prohibited aspects such as gharor, maisir, and usury. Bank Syariah Indonesia (BSI) is an exemplary sharia-compliant financial organization that offers financing and other services. It operates using sharia-compliant contracts that have been certified by the National Sharia Council. Microfinance has played a vital role in the financial sector since the early 1980s, with the goal of offering financial services to individuals and small and medium-sized enterprises who are economically disadvantaged. The primary focus is on achieving sustainable development by effectively managing and harmonizing the financial, social, environmental, and governance dimensions. The study employs a qualitative methodology to examine the impact of microfinancing on the development of micro, small, and medium enterprises (MSMEs), as well as the various forms of MSME development. The study examines the provision of funding by banks to businesses and self-employed individuals, with a focus on factors such as trust, agreements, duration, and associated risks. Financing has multiple purposes, such as encouraging commerce and economic activities, mitigating unemployment, allowing the movement of products and money, and fostering economic progress. MSMEs have a substantial impact on the Indonesian economy by making considerable contributions to the country's gross domestic product and employment rates.

ESG 경영의 하위활동이 고객의 신뢰와 만족, 충성도에 미치는 영향

This study analyzed the simple and double mediated effects of trust and satisfaction on the relationship between sub-activities of ESG management and customer loyalty, focusing on the core marketing performance of customer loyalty. For this purpose, an online survey was conducted targeting 150 consumers, and the collected data was verified using Process MACRO(Model 6) analysis. The results show that the sub-activities of ESG management do not directly affect customer loyalty but indirectly affect it through trust and satisfaction. In other words, trust and satisfaction play a mediating role in the relationship between environmental, social, and governance sub-activities of ESG management. In particular, among the sub-activities of ESG management, environmental activities affect customer loyalty through trust and satisfaction, while social and governance activities affect customer loyalty through trust rather than satisfaction. These results suggest that companies pursuing ESG management should prioritize efforts to gain customer trust in the social and governance dimensions.

Addressing complexity and diversity in the sustainable transitions of spiny lobster fisheries in Quintana Roo, Mexico

This study articulates five dimensions of territorial governance (social capital, leadership, transparency, accountability, socioenvironmental innovations, and commercialization routes) to construct a tripartite typology that helps explain the diverse sustainable transitions of small-scale fisheries in specific territorial contexts. The types are: 1) participative-inclusive governance expressed in solid institutions dedicated to environmental conservation; 2) exclusive-conflictive governance which generates institutions that are fragile for environmental conservation; and 3) transitional governance toward inclusion and responsible fishing, seen in communities that are implementing social and organizational changes to reduce overexploitation of fishing resources. Intensive fieldwork was conducted in localities devoted to spiny lobster fishing along the coast of Quintana Roo. We also held 106 interviews with key actors in governance. Results show that articulating intra- and extra-territorial networks is vitally important in developing the kinds of socioenvironmental innovations that can help local fishermen respond to the multiple environmental, economic, and political contingencies that affect their territories. We conclude that it is necessary to articulate institutional changes on various territorial scales to propel sustainable transitions that are realistic and feasible for small-scale fishers in marginalized communities in countries of the Global South.

Do Digital City Policies Promote Corporate ESG Performance? Evidence from Research on Textual Analysis of China

ABSTRACT One of the major aims of digital city development is to improve the cities’ natural and social environment friendliness, which aligns with the target of the ESG strategy. However, it is still unclear how to measure the impact of digital city development on ESG performance. This paper examines how digital city policies affect the ESG performance of firms. We propose a methodology to quantify digital city policies based on the textual analysis (BOW method) and measure the level of digital city policy support in each prefecture-level city in China from 2011 to 2022. Further, we introduce instrumental variables (IV), PSM, and other methods to empirically investigate the impact effects and obtain the following main conclusions: First, the digital city policy positively impacts firms’ ESG performance. After controlling for the fixed effects of the different dimensions, a 1% increase in the level of digital city policy support represented by the DCPI raises firms’ ESG scores by about 2%. Second, the facilitating effect of digital city policies on the sub-dimensions of ESG is asymmetric. Digital city policies significantly affect the environmental protection and corporate governance dimensions of firms, while the effect on CSR is not significant. Third, the impact of digital city policies on ESG performance is heterogeneous across different regions of China and cities with different population sizes. This paper will enrich the understanding of digital city policies and the research on institutional factors affecting ESG, which will provide some insights to both business managers and policymakers.

EXPLORING THEORETICAL CONSTRUCTS OF URBAN RESILIENCE THROUGH SMART WATER GRIDS: CASE STUDIES IN AFRICAN AND U.S. CITIES

This review paper explores the theoretical constructs of urban resilience through the lens of smart water grids, focusing on comparative insights between African and U.S. cities. Urban resilience, a critical concern in the face of climate change and urbanization, encompasses the capacity of urban systems to absorb, adapt, and recover from various shocks and stresses. Integrating advanced technologies such as sensors, smart meters, and data analytics, smart water grids emerge as innovative solutions to enhance urban resilience through improved water management. This paper synthesizes the literature on the intersections between urban resilience and smart water grids, highlighting theoretical constructs that emerge from integrating smart water technologies with urban resilience strategies. It discusses the implications of these constructs for urban planning and policy-making, considering socioeconomic, technological, and governance dimensions, and reflects on the importance of contextual factors. The paper identifies gaps in current theoretical and empirical understanding, suggesting areas for future research, including comparative studies and interdisciplinary approaches. By providing a comprehensive overview of how smart water grids contribute to urban resilience, this paper contributes to the broader discourse on sustainable urban development and the role of technology in addressing contemporary urban challenges.
 Keywords: Urban Resilience, Smart Water Grids, Climate Change Adaptation, Sustainable Urban Development.

Threat Posed by Artificial Intelligence to Humanity in Future

Artificial Intelligence (AI) emerges as a transformative force set to reshape industries and societies, yet it also presents significant threats to humanity. This study explores the multifaceted risks associated with AI, analyzing ethical, economic, and governance dimensions. Ethical concerns arise from algorithmic bias, privacy breaches, and the potential misuse of autonomous weapons. Economically, AI-driven automation poses a threat of widespread job displacement, demanding proactive measures to address societal inequality. Additionally, AI’s security vulnerabilities jeopardize cyber security and national safety, necessitating robust protective measures. Moreover, the prospect of AI surpassing human intelligence raises existential questions, prompting the exploration of strategies for its safe development. Tackling these challenges requires coordinated international efforts, including regulatory reforms and ethical frameworks. By examining AI threats comprehensively, this research aims to guide policymakers, technologists, and society toward responsible AI deployment for humanity’s well-being in the AI-driven era.

Legacies of Victors’ Rebel Governance

ABSTRACT Insurgents who achieve state control through military victory or elections after peace settlements can introduce ideas and structures of civilian governance they developed during their rebellions. Some come close to fulfilling their prospective legacies while others abandon them despite commitment to them during civil war. Characteristics of rebel governance and habits of military command enhance or constrain the creation of legacy. Significant factors can be classified in three categories: dimensions of rebel governance, contextual features of civil war and responses after taking state control. The National Resistance Movement’s limited realisation of its wartime rebel governance in Uganda illustrates many of them.

The European Union’s legislative process in the area of environmental protection in the context of the European environmental policy

Motives: This research paper analyzes the legislative process and the implementation of the European Union’s (EU) environmental law as one of the principal tools for achieving and maintaining global ecological safety.Aim: The study was undertaken to determine how the priorities of the EU’s foreign and internal policy are reflected in the legislative process in the area of environmental protection. The problems associated with law enforcement and the implementation of EU legislative acts in national legislation were also examined, and the current state and prospects for policy-making in the area of environmental protection were assessed. The paper considers environmental policy issues and legal regulations in Azerbaijan in the context of EU experiences. The research covers political and legal relations.Results: An analysis of the historical transformation of the EU’s environmental law from an institutional and constitutional perspective was combined with an analysis of the principal aspects and the main trends in the EU’s environmental governance and lawmaking. The EU’s contribution to the development of environmental legislation highlights its approach to the multi-layered dimension of environmental governance internally, in terms of the dynamic relationship between the EU and the Member States, as well as internationally. The EU’s policy and legal regulations in the area of environmental protection can serve as a reliable example for countries in which the environmental agenda has not yet received due attention. The above applies to both strategic planning, regulatory issues, and law enforcement practices.

Emerging attributes of adaptive governance in the global south

Adaptive governance is widely considered an effective approach to address the complexities and uncertainties of socio-ecological systems. The application of adaptive governance to sustainable environmental governance in the global south has not been sufficiently explored. There is a gap in the literature in the global south, especially given its conceptual roots in the global north. A number of reviews identified some key conceptual and practical gaps related to adaptive governance principles and the challenges to implementing them. To address this gap, this paper presents a systematic literature review of adaptive governance scholarship focused on the global south published between 2003 and 2022. The review discusses adaptive governance’s key principles and framings, as well as the challenges of implementing it in the global south. This paper examines the factors that influence the emergence of adaptive governance and how this framing has been used to understand effective environmental governance within the global south’s diverse socio-political and institutional settings. The review specifically focuses on Africa and South Asia, which are densely populated with limited financial and institutional capacity. Sustainable environmental governance is crucial in these regions not only for the wellbeing of the population, but also for the health of the planet. A review of adaptive governance scholarship identified emerging attributes that improve government structures and processes, as well as proposed attributes that would minimize challenges and improve adaptive capacity. The key emerging attributes are formal and informal networks, social learning, community engagement and proposed attributes are flexible, integrated and participatory institutional governance, inclusive decision making, context-specific strategies, accountability, and capacity development. These attributes provide a framework for adaptive governance scholarship for examining different governance structures and processes in different socio-ecological systems. This paper concludes with a framework for future research that can facilitate adaptive governance in the context of sustainable environmental management in the global south.

Impact of corporate social responsibility on bank performance in emerging markets

PurposeThis study investigates the relationship between corporate social responsibility (CSR) and financial performance of the banking sector from the prospective of emerging countries.Design/methodology/approachThis study obtained balance sheet and income statement data for 173 banks in 20 emerging countries from the Bankscope database from 2005–2018. The CSR-related data were taken from the Thomson Reuters ASSET4 database. Moreover, macroeconomic controls such as GDP per capita, inflation, and financial development are attained from the GFDD. The series of institutional quality indices (Political Stability, Rule of Law, Control of Corruption, Government Effectiveness, and Regulatory Quality) is obtained from the WGI. At the same time, national culture and bank regulation are attained from Hofstede Insights and Barth et al. (2013). We used the panel fixed-effects model in our baseline estimations, while 2SLS and GMM were applied to control for endogeneity.FindingsThe finding shows that CSR activities significantly improve bank performance, but the effect varies across the bank. Only environmentally friendly activities have shown a significant positive relationship with banking performance for CSR dimensions. However, the social and government dimensions did not significantly affect bank performance. Moreover, a sound institutional and regulatory environment and national norms play an important role in the nexus of CSR activities and bank performance.Originality/valueThis study provides empirical evidence that sheds light on CSR and bank performance in an emerging market context.

Determinants of digitalization: Evidence from Asia and the Pacific countries

PurposeDigitalization is one of the major factors that fosters economic growth across the world. However, the level of digitalization varies significantly between developed and developing countries, with the latter often lagging behind. To bridge this gap, it is crucial to pinpoint the drivers of digitalization, specifically from the macroeconomic and country-level governance dimensions. Therefore, this study aims to investigate the determinants of digitalization, particularly for countries in Asia and the Pacific region.Design/methodology/approachOur study utilizes unbalanced panel data from 46 Asian and Pacific countries for the period of 2001–2021. Initially, we analyzed the data using conventional econometric methods, such as pooled ordinary least squares (POLS), random-effects model (REM) and fixed-effects model (FEM). Moreover, we employed endogeneity-corrected techniques and alternative proxies to enhance the robustness and reliability of our findings.FindingsOur findings reveal that economic development progress, government expenditure relative to country size and political stability are key drivers of digitalization. In contrast, corruption at the country level emerges as a significant impediment. Notably, our results remain robust to endogeneity-corrected techniques and alternative proxies of digitalization. Overall, these insights can inform policymakers, helping them to understand the macroeconomic and governance factors shaping digitalization and guide their decision-making toward effective policy interventions.Originality/valueThis study’s empirical findings add significant value to the existing literature by quantifying the impact of macroeconomic and governance factors on digitalization in selected countries. This offers valuable insights for policymakers, particularly in nations with lower levels of digitalization.

CAN SUSTAINABILITY REPORTING MAKE A DIFFERENCE?: A QUALITATIVE ANALYSIS ON SUSTAINABILITY REPORTS OF BIST LISTED AGRI-FOOD COMPANIES IN TURKEY

Agri-business is a huge industry including all operations from farm level production to storage, manufacture and distribution of agricultural commodities. This fact together with worsening social and environmental conditions and pandemic crises have added to change in perception of agriculture in economic construction. The following decades will most probably witness a resurgence of agriculture-based development recipes having been informed by social, environmental and governance dimensions of sustainability. This article searches for the sustainability reports of agriculture-related firms listed in BIST in Turkey. Sampling includes 11 out of 64 listed agri-business firms having recent sustainability reports, which are examined by qualitative data analysis techniques with MAXQDA software. The first argument our findings support is that agri-food sector is lagging behind to catch up sustainability reporting compared to other sectors. Second, companies are more ready to comply with issues that are legally regulated. Third, environmental problems are more addressed than social and economic sustainability standards. This study also shows the relative unimportance of topics such as child labor, pesticides use, supply chain traceability, women entrepreneurship and geographical indication, which can have positive impacts for Turkish agricultural space if a backward push of big companies through integrating these topics more into their sustainability reporting process. This article contributes to the literature on sustainability in general and reporting in agri-food sector in particular.

ESG Performance in Emerging Economies

Business sustainability has been assessed by combining the financial (governance) and non-financial (environmental and social) performance of companies. This assessment must consider the institutional characteristics of the countries. Brazil, Russia, India, China, and South Africa (BRICS) are emerging economies, i.e., in economic and social transition. The aim of this study is to identify the factors that affect ESG performance and each of its pillars of companies located in these emerging markets. This objective was developed by means of panel data regression with fixed effects controlled by year and economic sector, over the period 2016 to 2022, obtaining 6,278 observations of companies located in the BRICS. The main results show that a country’s higher level of transparency (absence of corruption) increases performance in the environmental and social dimensions; while the Index of Economic Freedom is associated with the governance dimension; in the characteristics at the company level, voluntary adherence to the Global Compact stands out, and large companies show better ESG performance compared to medium and small companies. These results have empirical implications at the country level (policies and legislation) and at the company level (headquarters country and size differences). The main contribution indicates that different factors affect the ESG performance of BRICS countries and of companies located in these countries. This contribution fills a gap in the literature and empirical evidence on ESG in companies from emerging markets.

Geographic Information System for Spatial Planning in Indonesia and Its Support for Smart City Development

GISTARU (Geographic Information System for Spatial Planning) is a web-based and GIS-based information system in Indonesia that makes it easy for the public to access spatial information. In GISTARU, there are an Online Spatial Plan (RTR Online) and an Interactive Detailed Spatial Plan (RDTR) application. This research aims to; Identify and analyze the use of the Online Spatial Plan (RTR Online) website and Interactive Detailed Spatial Planning (RDTR Interactive) application in GISTARU and as well as identify the requirements for developing the website and application. In addition, the research outcomes are analyzed in terms of their contribution to the development of smart cities. Data was collected through in-depth interviews and website searches related to GISTARU, RTR Online, and RDTR Interactive at the national, provincial, and district or city levels. In-depth interview analysis is carried out through selected cases. The results showed that most regions in Indonesia have an integrated spatial pattern with GISTARU. However, there were inconsistencies in the RTR Online and RDTR Interactive data entry in GISTARU. In the meantime, relatively few spatial structure data are integrated with RTR Online. The Interactive Detailed Spatial Plan application is now operational in the majority of Indonesian provinces. The only province in which all regions have implemented interactive RDTR is DKI Jakarta. This Geographic Information System for Spatial Planning is very useful for achieving the goal of smart cities, particularly related to public services in the smart governance dimension