Tax avoidance practices represent a crucial aspect of corporate governance, reflecting management's legal efforts to minimize fiscal obligations. Agency conflicts arise when the interests of management (agents) clash with those of owners (principals), particularly in terms of tax compliance and financial reporting. Based on agency theory, this study examines the empirical influence of independent commissioners, audit committees, executive risk preferences, and profitability on tax avoidance. Using a quantitative approach, secondary data were collected from the annual reports of BEI banks for the period 2021–2023 and analyzed using multiple linear regression after testing classical assumptions. The results indicate that, partially, only profitability has a significant positive effect. Independent commissioners, audit committees, and executive risk preferences do not have individual impacts. However, all four variables simultaneously significantly influence tax avoidance practices, confirming the relevance of oversight mechanisms and managerial characteristics in controlling corporate opportunistic behavior.

The banking sector currently operates under conditions of intense regulatory, technological, and social change, which are significantly redefining the role of financial institutions in the economy. Growing stakeholder expectations and regulatory pressure mean that banks’ responsibility extends beyond traditionally understood financial goals and also encompasses environmental, social, and corporate governance aspects. In this context, sustainability reporting, particularly ESG reporting, has become a key tool for banks’ communication with their stakeholders and an element of their risk management system and strategy. Implementing ESG standards requires financial institutions not only to increase transparency but also to thoroughly analyze the impact of their operations on the environment and integrate non-financial factors into their decision-making processes. As financial intermediaries and entities responsible for capital allocation, banks have a significant influence on shaping the direction of economic development consistent with the principles of sustainable development. Consequently, incorporating ESG criteria into decision-making processes is becoming an essential element of risk assessment, credit policy, and long-term strategic planning. The aim of this study is to identify and analyze the impact of ESG reporting obligations on decision-making processes at the analyzed commercial bank. Particular attention was paid to changes in the management structure, risk assessment methodology, credit policy, and business strategy of the bank. The analysis focused on assessing how ESG reporting requirements impact the institution’s strategic priorities and what management mechanisms are implemented to effectively integrate sustainable development principles into daily operational practices. The study was conducted based on an analysis of the bank’s ESG reports for 2022–2024, which enabled the identification of trends in change and the assessment of the maturity of the implemented solutions.

Abstract The Mumbai Climate Action Plan (MCAP) outlines pathways for the city of Mumbai to address climate vulnerability and reduce greenhouse gas emissions. Developed through participation in the international C40 Cities Climate Leadership Group and written by the Mumbai office of the World Resources Institute India (WRI), the MCAP suggests making ‘climate action’ a routine part of urban planning and governance. Despite political instability, WRI staff worked with municipal officials on governance‐focused implementation, surpassing similar efforts in India and internationally. I consider the factors that contributed to this unlikely progress. Based on two years of ethnographic research, I outline how WRI staff, positioned at the intersection of the global field of urban climate action and the local field of Indian urban governance, acted as brokers between the urban government and C40, translating C40 best practices into locally amenable implementation steps. I argue that by layering novel climate policies derived from global norms atop existing governance structures, WRI staff encouraged the formalization of a climate‐focused agenda within an otherwise intransigent governance setting. While longer‐term outcomes of the MCAP remain uncertain and deeper change is still needed, this case demonstrates the possibility of establishing a foundation that could eventually make climate a routine aspect of urban governance.

ABSTRACT Drawing on the application of spatial analytical tools (based on floating catchment area (FCA) methods), this commentary highlights some of the challenges faced in promoting the use of geographical techniques to address aspects of government policy/delivery. There is an ever‐expanding academic literature concerned with the application of FCA techniques in a range of thematic areas, the majority of which inevitably conclude with claims for some degree of policy relevance. If geographers are to have a meaningful input, there is a need to demonstrate the impact of applying these types of spatial analytical techniques to address real‐world policy challenges. We draw on our experiences in using these tools in applied studies to firstly highlight an ultimately unsuccessful attempt to advocate for an alternative methodology as part of the construction of a domain of indicators in successive versions of an index of multiple deprivation in Wales. Meanwhile, researchers based within Ofsted, by drawing on the application of multi‐modal FCA approaches to measure localised access to childcare in England, have shown that it is possible to work in collaboration with academics and others to address important government policy initiatives using such techniques. We conclude by briefly summarising the lessons learnt from our experiences of applying these tools in policy contexts with varying degrees of impact.

This study aims to examine the role of cognitive analytics in measuring Environmental, Social, and Governance performance and its influence on investment decisions with corporate governance as a moderating variable. This study uses a qualitative approach in the form of library research with a systematic, analytical, and critical descriptive analysis method of relevant literature. Data were collected from 100 articles indexed in the Scopus database for the period 2022-2025, then analyzed using bibliometric analysis and data visualization through Harzing’s Publish or Perish and VOSviewer software. Governance was the most discussed topic, followed by ESG performance and investment decisions. English was the dominant language in publications, with the main fields of study being Business, Management, and Accounting. Publication trends showed a significant increase from year to year, especially in 2024 and 2025. Factors that shape ESG performance, as well as governance aspects such as board size and diversity. Investment decision-making, behavioral factors such as prospects, heuristics, and herding are the main focus. Corporate governance acts as a moderator that strengthens the relationship between ESG performance and investment decisions. An integrative conceptual model linking these three variables with cognitive analytics as a measurement and analysis tool is proposed to improve sustainable decision-making.

This study discusses the implementation of PSPK 1 and PSPK 2 in sustainability reporting in Indonesia. The Financial Services Authority (OJK) requires public companies in Indonesia to prepare sustainability reports as a form of accountability for environmental, social, and governance (ESG) aspects. PSPK 1 and PSPK 2 serve as the standard basis for assurance services on these reports. However, the quality, consistency, and reliability of ESG data remain major issues. This study examines this phenomenon from the perspective of accounting theory and the accounting challenges in measuring and verifying non-financial information in the transition era to a low-carbon economy. The results of the literature and theoretical studies indicate that sustainability reporting must be regulated in such a way that it is not merely an administrative compliance requirement because it is often considered less relevant to company strategy. Furthermore, there is a need to emphasize the importance of governance structures and sustainability report audit standards (such as PSPK 1 and PSPK 2) to encourage truly accountable reporting that has a real impact on the economy, society, and environment.

This study discusses a good governance system from the perspective of Ibn Taimiyah and its impact on community development. The type of method in this study, the author uses the library research method. This method was chosen because it facilitates the identification of research discussions. The approaches used include conceptual and legislative approaches to the subject. The data used are secondary data, obtained indirectly through library studies. This research was conducted using a qualitative approach by collecting reference sources in the form of reading books in print or online media that are related to the problem being studied. The results of the discussion show that there are several aspects of good governance or Good Governance initiated by Ibn Taimiyah, namely supporting the welfare of society in order to build good and correct governance. Therefore, Ibn Taimiyah stated that the government is an institution that builds important sectors such as politics, social, education, and economy because all of these can have a big influence on people's lives. According to him, social justice is related to human rights, so that violation of justice will cause crime and loss. Therefore, whatever form, name, or sign is used by the government and the state, as long as it helps realize social justice, must be obeyed and fully supported. Ibn Taimiyah also stated that the government as a very important institutional institution and he also stated that there are two things in determining a country and the leadership sector of the country with what it is.

This study employs a panel data analysis to explore the determinants of cocaine and heroin prices within the European Monetary Union (EMU) from 2002 to 2021. Using economic and governance indicators, our approach provides a nuanced understanding of how governance affects drug market dynamics. The main objective of this study is to investigate and provide empirical evidence for the relationship between governance performance and the pricing of illicit drugs. Additionally, the study highlights that different aspects of governance have varying effects on specific types of drugs. The empirical evidence shows that stronger governance structures are associated with higher drug prices, as higher risk leads to higher prices. Moreover, the findings reveal that the rule of law impacts drug prices in general, while corruption specifically affects heroin prices. This research provides a unique contribution by linking governance performance directly to the pricing of illicit drugs within the context of the European Monetary Union. Unlike existing studies that focus predominantly on the medical, psychological, or criminal aspects of drug use, our study emphasizes economic and governance factors influencing drug prices, offering a novel perspective for policymakers and stakeholders in the fight against drug trafficking. To the best of our knowledge, this is the first model for illicit drug pricing.

Purpose The purpose of this study is to examine the effects of digital transformation on the ESG performance of banks in emerging countries, highlighting the contrasting impacts on environmental, social and governance dimensions and how these dynamics evolved before, during and after the COVID-19 pandemic. Design/methodology/approach To examine the influence of digital transformation on banks’ ESG performance in emerging markets, this research utilizes a two-step Generalized Method of Moments (GMM) approach, which effectively addresses potential endogeneity issues in panel data analysis. The sample includes 250 banks from 25 emerging countries over the period 2012–2024. To ensure robustness, the study decomposes digitalization into two components: technological foundation and technological application. Moreover, this study analyzed the data across three distinct periods: pre-COVID (2012–2019), during COVID (2020–2021) and post-COVID (2022–2024). This approach allowed us to examine the unique impacts of the pandemic on digital transformation trends and its influence on ESG performance. Findings The adoption of digital technologies enhances the social dimension of banks’ performance, notably by promoting greater financial inclusion. On the other hand, it exerts adverse effects on environmental and governance aspects, primarily because of the heightened energy demands of digital systems and the complexities associated with managing advanced technologies. The analysis reveals that the COVID-19 period had a distinct impact on these dynamics, particularly accelerating the adoption of digital technologies but also leading to heightened governance and environmental challenges. Post-COVID, banks showed a more balanced approach to digitalization, attempting to mitigate negative effects while enhancing social performance. Research limitations/implications The limitations of this study include the absence of ESG disclosure analysis and the assumption of a linear relationship between digitalization and ESG performance. Future research could explore nonlinear relationships or compare dynamics between conventional and Islamic banks. In addition, while this study conducted separate analyses for the pre-COVID, during-COVID and post-COVID periods, future studies could further explore the long-term effects of the pandemic on digital transformation and ESG performance in greater depth. Practical implications The findings underscore the need for emerging banks to adopt integrated strategies to maximize the benefits of digitalization while mitigating its negative effects on the environment and governance. Policymakers and regulators can use these insights to develop tailored regulatory frameworks that support digital transformation while promoting sustainable practices, particularly in the aftermath of the pandemic. These frameworks should help banks navigate the increased challenges of digitalization, including cybersecurity and energy consumption, while ensuring that ESG objectives are not compromised. Social implications Digitalization promotes financial inclusion and access to banking services for underbanked populations, thereby helping to reduce social inequalities. However, it may also exacerbate environmental and governance challenges, requiring corrective measures such as green technologies and enhanced data governance frameworks. The post-COVID period shows an opportunity for banks to refine their strategies, using lessons learned from the pandemic to address these challenges more effectively. Originality/value This study makes an original contribution by examining the effects of digitalization on ESG performance in emerging markets, with a focus on three distinct periods: pre-COVID, during COVID and post-COVID. This approach, which is often overlooked in existing literature, provides a more nuanced understanding of how digitalization impacts ESG performance across different economic and regulatory contexts, particularly in the face of a global crisis like the COVID-19 pandemic. The study also provides robust empirical evidence and practical recommendations for aligning digital transformation with sustainable development goals in emerging economies.

The development of digital businesses in Indonesia is driving an increase in personal data-based transactions that require a strong and integrated protection system. This study aims to identify personal data protection strategies through literature analysis that includes aspects of regulation, organizational governance, technology, and digital literacy. Using a literature review approach to 20 articles from the Scopus, Google Scholar, DOAJ, and SINTA databases, this study analyzes four main stages: identification, selection, thematic analysis, and theoretical synthesis. The results of the analysis show five main themes in personal data protection, namely regulation and legal compliance, the implementation of Privacy by Design and Security by Design, organizational governance and risk management, digital literacy and human factors, as well as implementation challenges and best practices. The effectiveness of data protection is highly dependent on regulatory compliance, the implementation of Privacy by Design, public privacy awareness, and adaptive organizational governance. Regulations such as GDPR, CCPA, and the Indonesian PDP Law provide a comprehensive legal framework, but their effectiveness is determined by the ability of institutions and businesses to translate legal norms into sustainable operational practices. This study recommends strengthening synergy between public policies, industry, and society in building a sustainable data protection culture.

Although urban tourism policies have embraced sustainability, most frameworks often overlook the political-economic arrangements that determine the governance of sustainability and its implementations. This is most pronounced in Asian cities, given the highly diversified institutional pathways and state–market relationships. To address this gap, this study explored how the implementation of sustainable urban tourism in Jakarta and Seoul is affected by specific configurations of capitalism. Utilizing the concepts of variegated capitalism and developmental environmentalism, the study explained how the two megacities with contrasting political economies of sustainable tourism address the environmental, social, and governance aspects of sustainable tourism. Based on qualitative interviews, policy documents, and national statistics, the study finds that Jakarta is predominantly a hybrid neoliberal setting with fragmented regulation, CSR-oriented environmentalism, and donor–recipient community partnerships. Conversely, Seoul adheres to a developmental state model that incorporates sustainability into the core of culture and smart urbanism policies as a part of its long-term planning. The differences in the implementation of the four pillars of sustainable tourism emphasize the limited applicability of universal or prescriptive governance models. The study positions sustainable tourism within the institutional pluralism of capitalism and, in doing so, advances the political economy of urban sustainability for metropolitan policymakers to balance economic growth, social equity, and ecological sustainability.

This study examines the relationship between government policies and social welfare in Nigeria, with a focus on how state intervention has addressed the welfare needs of the citizenry. Social welfare remains a critical aspect of governance, encompassing areas such as health care, education, poverty alleviation, housing, and social protection. Despite numerous policies and programs introduced by successive Nigerian governments, citizens continue to face widespread poverty, inequality, and inadequate access to basic services. This research explores the extent to which government policies have improved welfare outcomes. Identify the challenges of effective implementation and highlight the gap between policy formulation and practical results. Relying on the qualitative method, the study evaluates the effectiveness of selected welfare initiative and their impact on the citizens' quality of life. Findings are expected to provide insight into the strengths and weaknesses of Nigeria's welfare policy framework and recommendations for more inclusive and sustainable welfare delivery.

This article explores how technology-innovation can enhance the ethics of Islamic banking (IB) and help to promote sustainable business. Incorporating both theoretical and analytical reasoning, this study combines the literature on IB ethics, fintech innovation, and sustainability frames. By drawing from existing empirical studies, this paper demonstrates how technology innovations like AI, blockchain and digital banking can enhance the Shariah governance aspect and ethical financial practices when taken holistically. The findings indicate that digitization provides strong potential to close the practical gap between Islamic banking and its ethical ideals. Blockchain technology enables monitoring and can mitigate information asymmetry, enhance transparency in profit-and-loss sharing which help to uphold Shariah compliance. digital could support sharia boards, islamic banks and regulators to enhance sustainability reporting, operational efficiency and compliance. This paper provides a new line of sight, which highlights digitization as an enabler for ethical and sustainable Islamic finance by relating the Islamic ethics to digital transformation and environmental commitment.

ABSTRACT Digital Government Development (DGD), a key aspect of modern governance, uses digital technologies and data to promote high-quality economic growth. Based on China’s 2018 big data management reform as a quasi-natural experiment, this study applies a difference-in-differences approach to investigate how DGD affects corporate digital innovation through data network effects. Results indicate that the reform increases the expected number of digital invention patents for a median firm in pilot cities from about 4 to approximately 4.46. DGD, as an external platform node, appears to drive innovation by mandating data network access, reducing R&D manipulation, mitigating information asymmetry, and accelerating digital transformation, aligning with a potential mediation pathway. The effect is stronger in state-owned enterprises, high-tech firms, growing firms, and regions with stricter data privacy protections. Further analysis shows that DGD-driven innovation boosts total factor productivity. By adopting a data network perspective, this study contributes theoretically and practically to understanding governmental transformation in the digital economy.

Transparency in environmental, social, and governance (ESG) aspects within Indonesia's energy sector remains varied despite high environmental risks. This study aims to analyze the effect of board remuneration, multiple large shareholders, and insider CEOs on ESG disclosure. This study employs a quantitative approach using unbalanced panel data from 44 energy sector companies listed on the Indonesia Stock Exchange from 2022 to 2024. Data analysis was conducted using panel data regression with the Random Effect Model. The results indicate that board remuneration and the presence of multiple large shareholders have a significant positive effect on ESG disclosure. Conversely, the insider CEO status was not proven to significantly affect the level of sustainability disclosure. Additionally, profitability was found to be a crucial prerequisite for transparency, whereas capital structure had no meaningful impact. The study concludes that structural governance mechanisms through financial incentives and shareholder monitoring are more dominant in driving sustainability accountability compared to executive background characteristics

ABSTRACT The hospitality industry’s growing focus on Environmental, Social, and Governance (ESG) principles requires hospitality educators to equip students with essential knowledge and skills. This study examines students’ perceptions, familiarity, and learning experiences with ESG education, applying Self-Determination Theory (SDT) as a framework to understand their motivation toward ESG learning. Semi-structured interviews with 39 students from three U.S. hospitality programs highlight key gaps, including fragmented ESG instruction and limited focus on social and governance aspects compared to environmental sustainability. Students acknowledge ESG’s importance for the industry and their career choice. Many students advocate for more structured, hands-on ESG education. This study offers actionable recommendations for developing ESG curricula, ensuring that hospitality graduates are well-equipped for an ESG-conscious industry.

This paper explores how smart governance can reduce financial risks in the Iraqi banking industry by focusing on the adoption of the use of artificial intelligence (AI) technologies to increase financial stability and operational efficiency. The study uses a combination of quantitative indicators of the dimensions of smart governance (standards, policies, practices, information, technologies, and skills) and financial risk dimensions (market, credit, operational, and investment portfolio risks) based on the secondary data provided by the Central Bank of Iraq covering the years 2023 and 2024. The results reveal a strong progression in all aspects of smart governance during the study time in the form of the rising number of licensed electronic payment providers, the rise of the percentage of current deposits, and the further use of bank accounts and electronic wallets. Also, the human resources in the banking industry have been enhanced with expertise in professional development initiatives. In the financial risk sector, the outcomes are a decline in non-performing loans, an upward trend in the ratio of credit to deposits and an increase in total deposits and total credit facilities, hence, an indication of an improvement in the ability to handle risk. The testing of hypothesis confirms that a strong governing process, including standards, policies, practices, information management, technology adoption and development of human skills, has a positive influence on financial risk management in the AI environment. The research suggests enhancing regulatory systems, increasing digital transformation programs, investing in human-capital growth, and introducing AI-based analytical solutions to guarantee long run sustainability and stability of the financial sector.

The paper investigates the role of audit committee characteristics in a firm's financial performance. During the ongoing economic recession and the world financial crisis, the corporate governance systems are quite notorious. The audit committee represents one of the most important aspects of efficient corporate governance in companies. In Pakistan, little evidence exists on the effects of audit committees and their attributes on firm performance in the Pakistani literature. Four key characteristics of the audit committee were defined to examine their influence on the company's financial performance: independence, activity, size, and quality of the external audit. The researchers used Tobin's Q to quantify the market and ROA to quantify the accounting business. The panel data analysis showed that the size of the audit committee and the quality of the external audit positively and statistically significantly affect Return on Assets (ROA) and Tobin's Q. Two more variables, including audit committee independence and AC activity, also do not lead to any significant effect, and this can also be seen through the results of the jurisdiction studies that have been conducted in different countries. Essentially, the study has provided valuable information to regulators, policymakers, and stakeholders in Pakistan regarding the adoption of specific audit committee qualities. Incorporating these qualities can improve firms' financial performance. To determine whether the corporation's performance has improved, the audit committee's skills can be used to gather information at the company's administrative level.

As time-series data from the Internet of Medical Things (IoMT) increasingly permeates various aspects of medical research, public governance, and clinical treatment, its sensitivity raises significant privacy concerns, hindering the potential of deep learning applications for cross-institutional data integration. Previous practices focused on deep learning methods based on centralized data storage and processing, which are often unsuitable for decentralized and privacy-sensitive IoMT data scenarios. Most existing methods rely on mechanisms such as trusted coordinators, which face challenges in addressing potential passive data leakage and side-channel attacks, failing to effectively protect the privacy of sensitive data during collaborative training. To address these issues, we propose a privacy-preserving collaborative training model, Secure Long Sequence Time-Series Forecasting (SecLSTF), for IoMT time-series data and design a mapping strategy between model components and Multi-Party Computation (MPC) protocols. Building on this foundation, we propose a novel secret sharing protocol, Pleione, which focuses on optimizing the computational efficiency of the low-level secret-sharing protocol. The protocol centers on a hyper-invertible matrix and adopts a paired double random expansion mechanism, significantly reducing the communication rounds required for random number generation. This optimization enhances the overall training speed of SecLSTF. Subsequently, we replace the original computational support protocol with Pleione. Experimental results show that SecLSTF-Pleione significantly reduces computational time while maintaining computational accuracy, outperforming other protocols in component efficiency. This study offers a potential pathway for cross-institutional IoMT data sharing.

Social entrepreneurship, a fast-developing sector in Malaysia, has the capacity to contribute to the social development and economic growth of the nation. Whilst social enterprises in Malaysia have made considerable impacts in terms of enhancing community welfare, driving sustainable development, and fostering inclusive growth, there are still challenges and obstacles that impede their continued development. This article argues that one of the obstacles to the advancement and growth of the social enterprise sector is the government policy on the accreditation of social enterprises in Malaysia. Since its introduction in 2017, the Malaysian government’s policy on the accreditation of social enterprises has been revised four times. This article aims to conduct a critical evaluation of the accreditation policy relating to social enterprises by exploring its development and evolution, followed by highlighting its shortcomings and areas for improvement. This article employs a doctrinal legal study using the exploratory research design and interpretive qualitative content analysis to analyse policy documents related to the accreditation of social enterprises in Malaysia. After examining the effectiveness of the current accreditation policy for social enterprises in Malaysia, this study finds that it is hindered by frequent changes, subjective and ambiguous criteria, and a lack of legislative support, thus raising concerns about issues related to transparency, accountability, and unclear justifications for the introduction of various categories of social enterprises. These findings make a case for legislative intervention to provide greater clarity, certainty, transparency, and accountability on the crucial aspects of social enterprise governance.