Governance Matters Research Articles

Does governance matter? Country-level determinants of operational risk

Abstract The severity and frequency of operational loss events show high variability across the globe. In this paper, we first examine the extent to which the quality of country-level governance measured by the Worldwide Governance Indicators explains cross-country variation of operational losses. We use the comprehensive database of SAS OpRisk Global for the period of 2008–2019 covering 132 countries and 8,144 loss events with a total loss amount of almost 490 billion USD. Our findings indicate that the governance indicators lost their explanatory power over the past decades, which contradicts the academic consensus and calls for new explanatory variables. To find these variables, we hypothesize that the changes are driven by some important megatrends such as economic development and technological advancement, globalization, and sustainability. Accordingly, we propose an extended model where the number of mobile subscribers, the export to GDP ratio, and the poverty headcount ratio were significant for the frequency. For severity, only GDP is a significant and robust explanatory variable. Investors, regulators, and analysts should, therefore, concentrate on these factors if they wish to model, manage, or mitigate operational risks.

The Anglican Church Affair: A New Window on the Brief Rise and Fall of the Late Ottoman Islamists

The Anglican Church Affair:A New Window on the Brief Rise and Fall of the Late Ottoman Islamists Andrew Hammond (bio) KEYWORDS Occupied Istanbul, Ottoman caliphate, Said Nursi, political Islam, Turkish war of independence On 21 December 1918, several weeks after the Ottoman defeat in the First World War, a letter from a civil servant of the British government's Charity Commission arrived at the office of the Grand Mufti in Istanbul with a special request: an authoritative book explaining Islam to the West, to be authored by a prominent personage, and placed in a special collection of the Anglican Church library. This book should address four questions: what is the religion of the Prophet, what is this religion's contribution to thought and life (fikir ve hayat), what is its solution to the various troubles of our times (zamanımızın mezahimi), and what does it have to say about the political and spiritual forces currently transforming the world for good or bad?1 No copy of the original English letter has been found in the Müftülük archives in Istanbul, in the Church of England archives, or among the private papers of the man who sent the letter, an English public intellectual by the name of Arthur Boutwood (1864–1924). Previously we only knew of Boutwood's name through Ottoman translations published separately in 1919 and 1923 by two members of the Darü'l-Hikmeti'l-İslamiye, the Islamic research academy that then Grand Mufti Haydarizade Ibrahim charged with providing a reply. Boutwood's book request was taken seriously by the Ottoman religious establishment for two reasons: it was misunderstood to have come from the head of the Anglican Church himself, and it came at the onset of the British occupation of Istanbul. After long deliberations over who should author the response, the Mufti chose the devout intellectual İzmirli İsmail Hakkı (1869–1946) [End Page 443] and from Boutwood's private papers held at Corpus Christi College in Cambridge, we now know that sometime in 1920 Boutwood received a first section of Hakkı's planned book.2 However, not all members of the research academy were happy with acceding to the British request. Said Nursi (1877–1960), the religious scholar who was to become a seminal figure of Turkish republican Islam, saw it as an attempt by the occupying power to co-opt Muslim authorities. Though Nursi later stated in his Risale-i Nur compendium that he had refused any involvement from the outset, he provided a retort of sorts in a section of his 1920 pamphlet Rumuz (Signs) titled Bir Papaza Cevap (Response to a Priest). "A man tries to kill you, throwing you to the ground and putting his foot on your throat. Then he asks you contemptuously about your religion. The way to silence him is to go quiet in anger then spit in his face. 1. What is the religion of Muhammad? The Qur'an. 2. What did it give to thought and life? The unicity of God and guidance. 3. What is its cure for the troubles (mezahim)? Prevention of usury and obligatory alms (zekat). 4. What does it say about this turmoil (şu zelzele)? That man will be judged by his efforts, as will those who amass wealth [laysa li-l-insan illa ma saʿa wa-lladhina yaknizun al-dhahab]."3 There is some evidence in Boutwood's papers that appears to justify Nursi's concerns. In separate correspondence with academy member Eşref Efendizade Şevketi (1877–1934) in 1921, Boutwood seemed worried about how Istanbul would react to communist Russia. As working-class consciousness rises in the West, "Lenin has friends in every land" (Lenin'in her memlekette dostları var), he states.4 In letters to acquaintances in Britain, written in January and May 1921, Boutwood also hoped the Islam book would help change the views of Prime Minister Lloyd George, who was strongly pro-Greek in the divided British government during the Greco-Turkish War of 1919–1922. Boutwood wanted him to realize that the caliph was not a pope with authority in matters of faith, and thus Turkey's retention of the caliphate as well...

Renewable energy and foreign direct investment: does the governance matter for CO2 emissions? Application of CS-ARDL

Renewable energy and foreign direct investment: does the governance matter for CO2 emissions? Application of CS-ARDL

Role of governance on SME exports and performance

PurposeThis paper aims to investigate the effect of governance – a proxy for network effects on small and medium enterprises (SME) growth through access to new markets. Specifically, investigate how export intensity (EI) and performance are affected. This study also tests related theories, given the growth in the post-liberalization setting of a developing economy. Specifically, this study tests Uppsala and born global (BG) perspectives for internationalization and resource-based view for performance.Design/methodology/approachThe authors collect secondary data for each SME over a 20 year period from a growth-oriented developing economy – India. This period is after the liberalization of the Indian economy. Thus, the authors test the hypotheses in this context. The authors expect that exports would surge for SMEs given the governance structures considered. The authors consider several governance modes and two types of product classifications, namely, products and services.FindingsThe authors find conditional support for the two models – indicating that governance structures do not consistently support finding new markets. Further, given the governance structure, EI is not consistently a means to improved performance. This is contrary to the expectations. However, at the same time, the authors do find evidence that governance matters and affects products and services differently.Research limitations/implicationsWhile the authors conduct research in India which has a variety of cultures and state policies, the authors still believe comparative study with multi-country data from developing countries might bring further insights. Further, primary data would also help to understand governance and motivational effects (the authors did not consider the later). Implications: The authors believe the research will have implications for policy since the authors find effects of governance. Hence, specific policies that improve the performance of a governance type could be adopted.Practical implicationsAlthough SMEs are affected by many factors, the authors find significant effects for important variables. Hence, the authors believe the government could use the study to design proper policies so that new markets could be discovered through different governance forms, through strategic investment and capacity building.Social implicationsSMEs are a key part of the social fabric of a society/country. The work deals with how SMEs could be helped. Hence, the authors believe the work has important implications for society. Further, as the work deals with large firm-SME interfaces, the authors also inform how these different governance structures are performing and where attention is needed.Originality/valueThe authors find that certain governance-type and SME-type work well together. Further, networks through the governance structures help find new markets – depending on SME-type. The authors find partial support for the Uppsala model and also for the BG model, again depending on the SME-type.

Common-pool resources and governance in sustainability transitions

Common-pool resources (CPRs) are critical in sustainability transitions. They are often important means for environmental and societal innovation, and object of unsustainable extraction and governance practices. We argue why CPRs and their governance matter in transitions and point to issues for further research: (i) conceptualization of sustainability and transitions in light of common-pool resources and governance; (ii) the roles, potentials, and challenges of commoning practices, beyond the market–state dichotomy; (iii) interactions between CPRs and commons with markets/firms and the state/governments in processes of sustainability transitions. These overarching issues bring fresh perspectives to transitions literature: (i) CPRs/commons help advance the integration between ecological and socio-technical systems (ii) non-excludable resources affect entrepreneurial activity and innovation processes in the dynamics of socio-technical system; (iii) CPRs/commons add new viewpoints to the question of directionality of transitions. We conclude by advocating for building bridges with new institutional and environmental economics, and social practice theory.

Covid-19 and performance disclosure: does governance matter?

PurposeThis paper aims to investigate whether Covid-19 related information is associated with a higher level of performance disclosure in the annual reports. Furthermore, it examines the moderating effect of corporate governance on the relationship between Covid-19 and the performance disclosure by using three governance mechanisms: board size, board independence and gender diversity.Design/methodology/approachThe authors use quantitative content analysis. The authors applied an automated textual analysis technique to measure the level of Covid-19 information and performance disclosure for the UK Financial Times Stock Exchange all-share non-financial firms.FindingsThe authors found a significant positive relationship between the Covid-19 disclosure and the firm performance disclosure in the annual reports. The authors also find that both board independence and gender diversity moderate the relationship between the Covid-19 related information and the level of performance disclosure in the annual reports. The authors further run a robustness analysis, which confirms the main results.Practical implicationsThe finding is beneficial for the regulatory setters to better understand whether firms provide generic or meaningful Covid-19 information linked to the firm’s performance. The unique findings of this paper are relevant to regulators, governments, management, shareholders and academics.Originality/valueThe authors contribute to the literature in a unique and core research area not researched previously. The paper links the Covid-19 disclosure with the firm performance from the corporate narrative perspective. The paper underlines governance factors as a moderating role in this relationship by considering three main mechanisms: board size, board independence and gender diversity.

Do Environmental, Social and Governance (ESG) Disclosures Affect Islamic Banks Financial

Currently, businesses are very vulnerable and exposed to the uncertainty that may cause damage to the company. With the ongoing pandemic issue, companies are more concerned about their performance and survival. Companies like banks play a crucial role in the economy since its growth depends on its financial sector's stability regardless of the country. Thus, companies have many approaches and strategies to maintain their business and stay relevant in the corporate world; hence, ESG disclosure comes in handy. According to the Bursa Malaysia Sustainability Reporting Guide (2018), ESG which stands for "Environmental, Social, and Governance" is a term used extensively, specifically by the investment community, portraying the environmental, social, and governance matters considered by investors in the corporate behaviour context. Experts have actively discussed ESG disclosure to address such reporting to enhance the company's performance portfolio. Furthermore, the ESG factor becomes one of the primary considerations for the investors' decision. ESG factor influences and strengthens the investors' confidence towards the company's performance. Bukhari, Hashim and Amran (2020) suggested that companies providing ESG disclosure show improvement in their financial performance. Experts found a significant impact of sustainability practices on the Islamic banks' financial performance (Jan, Marimuthu & Isa, 2019). Companies' ESG disclosure performance has established a reputation for playing a significant role in financial transparency and how it varies by economic and stakeholder's perspective (Oncioiu, Popescu, Aviana, Serban, Rotaru, Petrescu & Pantelescu, 2020). Jan et al. (2019) found that there is still a low adoption level of sustainability practices and reporting in the Islamic banking industry. An empirical study conducted by Nobanee and Ellili (2016) also stated that sustainability disclosure has an insignificant effect on Islamic banks than the high degree of such disclosure on conventional banks. Moreover, from a study conducted in seven Muslim countries, the sustainability practices and reporting were not of serious concern to those countries' Islamic banks (Hassan and Syafri Harahap, 2010). Keywords: Environment, Social, Governance (ESG) Disclosure, Islamic Banks, and Financial Performance.

ВНЕШНЕТОРГОВАЯ ДЕЯТЕЛЬНОСТЬ КАК ИНСТРУМЕНТ ВЛИЯНИЯ НА СОЦИАЛЬНО-ЭКОНОМИЧЕСКОЕ ПОЛОЖЕНИЕ ГОСУДАРСТВА: РЕГИОНАЛЬНЫЙ АСПЕКТ

The theoretical prerequisites for the formation and development of the region's foreign trade activity are analyzed, its importance in ensuring socio-economic stability is noted. The authors agree that the sanctions regimes implemented by a number of foreign states, primarily the United States, by the countries of the European Union, have negative consequences, both in relation to Russia and for themselves. The impact of restrictive measures has been noted as part of the coronavirus restrictions. Thus, the authors note the emergence of possible imbalances in export-import operations, and also come to the conclusion about the imperfection of the applied models of foreign trade activity, expressed in the ongoing trade in raw materials and goods with low added value. The region under study was the Stavropol Territory, which has the most pronounced export specialization among the subjects of the North Caucasus Federal District. The analysis of trade operations in the region highlighted the existing contradiction, which consists in the growth of prices in the domestic market for groups of goods, whose export volumes tend to grow. This circumstance should act as a signal for regional authorities in matters of regulating the balance of ensuring food security.

Features of the modern mechanism of advinistrative and legal regulation in thr security sector of Ukraine

Problem setting. The global instability that currently exists in the world is forcing us to look for new models aimed at improving the economic and political situation within countries. The security sector, in turn, is the main component that ensures the stability and development of the state, and in the global crisis, this industry is becoming significantly more important. Therefore, having the appropriate amount of control, supervisory and organizational and legal powers, public authorities are the primary entities entrusted with ensuring this area of public policy. The purpose of the research is to analyze the managerial influence of public administration bodies on the formation and provision of the security sector of Ukraine. Analysis of resent researches and publications. Despite the significant contribution to the study of regulatory and legal support of the security sector of Ukraine by such scientists as Bodruk O., Duchyminska L., Ezheev M., Kolb O., Ponomarev S. and others, and given the political aggravation both within the country and in the international arena, the frequent violation by countries of their treaty obligations to the international community and other similar problems, further in-depth study of administrative and legal support of Ukraine's security sector and areas for improvement is extremely necessary. Article`s main body. The Law of Ukraine «On National Security of Ukraine» (21.06.2018), the Criminal Procedure Code of Ukraine, the Law of Ukraine «On Operational and Investigative Activities», the Decree of the President of Ukraine «On the decision of the National Security and Defense Council of Ukraine of September 14, 2020» On the National Security Strategy of Ukraine», the Civil Protection Code of Ukraine. A specific source aimed at the development and improvement of national security was the Concept of National Security of Ukraine, but from 19.06.2003 the latter expired because its provisions were reflected in the Law of Ukraine «On National Security of Ukraine». Nevertheless, the issue of the security sector's ability to ensure the country's real security in the relevant scenarios remains quite relevant, emphasizing the lack of a single document that would coordinate the actions and measures of public authorities on the criteria of implementation, type, priorities, goals and objectives, technical component etc. The analysis of the normative base allows to outline the main powers of local governments in matters of security of the territorial community, in turn, the author made a classification of these powers by functional orientation. Conclusions. The study confirms the overall regulatory and legal support of the security sector of Ukraine. This is manifested directly in the presence of a number of regulations, including bylaws, which define the mechanisms, principles, functions and procedures for protection of the population from emergencies, delimit the competence between the subjects in the field of security and defense. The legislator does not pay attention to the models of interaction of public institutions, which need some improvement. The creation of situational centers remains extremely justified.

Arab-German Trade and Institutions: The Effect of Good Governance on Arab Exports to Germany

Does good governance matter for exporting to the highly competitive markets of developed countries, especially those committed to a developmental mission centered on promoting good governance? This paper is investigating this research question. The focus of the analysis is the case study of Arab exports to the German economy, where a comparatively poor performance in comparison to that of other regions of the world is witnessed, despite geographical proximity and preferential trade agreements. Using statistical data and the literature on the subject, the paper engages in a discussion on German trade flows from Arab countries and whether governance indicators provide a good explanatory framework. The research question is then investigated empirically by running several regressions using the two-stage least-squares and Poisson pseudo maximum likelihood models. Different indicators of German exports are used as dependent variables while the independent variables are various governance indicators together with the control variables suggested by the gravity model. The obtained empirical results suggest that good governance generally boosts Arab exports to Germany and relatively more than it does for non-Arab exporters to Germany. This is especially true for governance indicators that directly affect exporting activities, such as regulatory quality and government effectiveness. For some indicators that indirectly affect exporting, however, the results are mixed for both Arab and non-Arab countries, especially for the textile industry. This sheds doubts on Germany’s developmental commitment to fostering good governance principles.

When food governance matters to consumer food choice: Consumer perception of and preference for food quality certifications

Food quality certifications have been widely promoted for sustainable goals and addressing consumers' increasing concern for food safety. However, these mechanisms have achieved varied success in practice. Prior research notes the importance of certification and certifying agencies in making tangible an invisible process to build consumer trust in certified food. What we have yet to understand is if and how perceived trustworthiness of food actors, such as growers and retailers in that process, influences consumers' trust in food certification and their food choices. To extend the literature on food certification in a complex network environment, we examined consumer trust in three food certification schemes which represent two types (community-based versus third-party), two certification origins (international versus domestic), and two certification standards (organic versus Good Agricultural Practice or GAP). Data were collected via in-depth interviews with 27 participants in Vietnam. These participants have similar awareness of, access to and capability to afford organic food but differ in their food choice. This is the first study exploring consumers' perceptions of community-based certification in comparison with other third-party certifications in the same market. Our study shows that the variation in consumer trust in certifications depends on their perceived trustworthiness of the food system and its actors to deliver certified food. Findings reveal that the higher the level of trust in the certification, the lower the need for trust in food actors. Conversely, the lower the level of trust in the system, the higher the need for trust in food actors. Importantly, food chain governance, the mechanisms linking growers to retailers, increase consumers’ trust in certified food. The study proposes two food governance frameworks to improve consumer trust in certification schemes in developing countries.

Foreign direct investment, foreign aid, and CO2 emissions in Asian economies: does governance matter?

Due to emanating global warming, all countries of the world are focusing on policy development regarding mitigation of environmental pollution. However, there exist multiple factors that interrupt such environmental protection actions both positively and negatively. Following this, this study aims to explore the dynamical impact of governance on the relationship between foreign direct investment, foreign aid, and CO2 emissions. We use the recent data covering the period of 2001-2019 of Asian economies and apply estimated generalized least square, two-stage least squares, system generalized method of moments, and fully modified ordinary least square models to estimate the regression. The implication of such models helps to quantify the unbiased regression by treating multiple econometric problems. The statistical outcomes of these models suggest that inflow of foreign direct investment (FDI) enhances the CO2 emissions due to more industrial proliferation. Conversely, foreign aid and governance mitigate the CO2 emissions as foreign aid promotes development of industrial technology which causes low CO2 emissions. Similarly, the better governance practices restrict the industrial sector from emitting of excessive CO2. However, receipts of foreign aid deteriorate the governance situations which further channelize the deprivation of government control on industrial sector regarding CO2 emissions. Conversely, FDI strengthens the governance situation which further permeates negative CO2 emissions. The findings of the study suggest that a country can impede the CO2 emissions caused by inflow of FDI via proper governance application. This study adds new thoughts regarding governance role to manage the externalities of FDI and foreign aid.

Historical and cultural standard and teacher’s professional training within the course of the civil identity formation (formulation of the problem)

The paper is devoted to the role of the state educational policy within the course of the Russian civil identity formation. The focus of the study is on the evolution of the aims of the authorities in matters of the historical education and historical memory, their norm-legal regulation and institutional support, as well as real educational practices. The introduction of the historical and cultural standard for teaching the school course of the history is considered as a collective attempt by the authorities and society to lead historical and educational policies to a common denominator in terms of the content and value. A special accent in the paper concerns the problems of the teacher professional training for the implementation of the state historical and educational policy of the Russian Federation within given framework, considering the specifics of the contemporary informational space. It attracts attention to the close ties between information wars and historical policy, in the context of the attempts to reconsider the results of the Second World War especially, keeping in mind its effects for the transformation of the civil identity and the changes of position the Russian Federation held on the international arena. Both methodological and organizational restrictions were identified in secondary and higher schools, which have a significant impact on the formation of civil identity through historical education, both at the stage of training pedagogical personnel and in the process of studying the school course of the history.

Incentivizing Good Governance Beyond Regulatory Minimums: The Civil Nuclear Sector

The consequences from a blended cyber‐physical terrorist attack on a nuclear power plant are potentially catastrophic. Sabotage of the plant or theft and subsequent use of radiological materials can potentially lead to blackouts, deaths, and injuries and even a release of radiological materials. This threat continues to evolve in sophistication and complexity and is outpacing the ability and resources of governments to anticipate risks and to protect their critical infrastructure and the public from harm. Policymakers are working to keep up with the rapid onset of these threats to reinforce the resilience of critical infrastructure. Cyber vulnerabilities including insider threats are also evolving, with cyberattacks on nuclear facilities the tip of the iceberg as more sophisticated advanced persistent threats develop. This paper suggests governments look beyond regulations and policy directives to harness the power and energy of the market to incentivize operators to voluntarily adopt security measures beyond regulatory requirements.Good organizational governance is important and necessary to secure critical infrastructure including nuclear facilities and increasingly can be rewarded by the market. The definition of what is good organizational governance matters to investors, lenders, insurers, regulators, and the public. Is the organization going to be able to function effectively as an enterprise and provide a return to investors, pay back its loans, protect its workers and community, including the environment? In the nuclear field, the stakes can be high—with stakeholders depending on a stable baseload electric supply without safety or security incidents, especially of a radiological nature.This article documents findings from a multi‐year project to identify incentives for nuclear security beyond regulatory minimums, with a focus on nuclear power plants. We assessed the importance of standards and developed a “Good Governance Template” to support owners/managers in obtaining benefits and reducing potential liabilities. We found that market incentives are developing in areas such as insurance, credit, and other rating systems to support the development of good governance, including incentives for companies to demonstrate due care in the management of risks, especially cyber risks. Building a business case for nuclear security based on these incentives is an important step forward in securing our nuclear future, especially in terms of cyber risks.

Does country-level governance matter for national development? An analysis on the founding states of Turkic council

ABSTRACT This study aims to examine if there is a long-term relationship between the participation of ‘country-level governance’ and ‘national development’ through the data of founding countries of the Cooperation Council of Turkish Speaking States (Turkic Council)? The hypothesis of there is a significant long-term relationship between country-level governance and national development was tested via the panel data analysis of four Turkic countries: Azerbaijan, Kirgizstan, Kazakhstan, and Turkey. The compounds of the ‘Worldwide Governance Indicators’ were used as the independent variable, and ‘Human Development Index’ as the dependent variable. A Panel Causation Test was conducted to investigate if there are long-term co-integration and causation between country-level governance and national development. Our results found that there is significant causation between the country-level governance indicators of ‘Voice and Accountability’ and ‘Government Effectiveness’ with the ‘national development’ process. Thus, our findings will contribute to both academics who study the effects of governance on development and to policymakers who utilize these sources for improved political and social development with the aim to prevent poverty and improve access to basic human needs.

“DELIVER AFRICA FROM DEBTS”: Good Governance Alone is not Enough to Save the Continent From Debt Onslaught

The present article analyzes the debt–economic growth nexus in African countries while controlling for the impact of good governance indicators. In contrast to a long tradition of scholarship that has consistently suggested that government debt has a detrimental impact on economic growth in sub‐Saharan Africa, recent studies have actually shown that government debt, when coupled with improvements in the quality of government, is actually a driver of economic growth. By analyzing an original dataset that covers the 2002–15 period and additional debt–economic growth data going up to the year 2020, we are able to suggest three conclusions. First, in the absence of debt, good governance matters in improving economic growth. Second, some dimensions of governance are better predictors of economic performance than others—as the “good enough governance” literature has in recent years suggested. Third, under no circumstances is debt government growth beneficial for the economic performance of African countries. Building on this evidence, we suggest that the COVID‐19 pandemic—which has already slowed down African economies and increased their debt exposure—may prevent African countries from making greater progress along the developmental path.

Specific investments, cognitive resources, and specialized nature of research production in academic institutions: why shared governance matters for performance

AbstractNew institutional economics (NIE) studies institutions and how they emerge, operate, and evolve. They also include organizational arrangements, intended as modes of governing economic transactions. Universities offer an exciting ground for testing the role of different institutional arrangements (governance forms) in coordinating (academic) transactions. In a context of contractual incompleteness where production is characterized by a highly specialized nature and requires the cooperation among co-essential figures, we argue that shared governance models (versus models with more concentrated authority) foster idiosyncratic investments in human capital and promotes performance. From the evolutionary viewpoint, we explain why institutions based on shared governance have developed within universities. The normative question of how universities should be governed is a debated issue in the literature. Since the 1980s, the new public management paradigm provides a theoretical framework that suggests analyzing university like firms. It is based on the firm's archetypical conception as top-down hierarchical organizations and as a descending sequence of principal–agent problems. We advance a different interpretation of the university–firm analogy leveraging on the NIE and its developments. To empirically analyze our hypothesis, we collected original data from Italian universities in 2015. We find that more shared decision-making processes are correlated with better research performance.

Governance matters: Regulating ride hailing platforms in Canada's largest city‐regions

While scholars acknowledge the important role played by regulators in managing ride hailing and its impacts on cities, few studies have explored the implications for developing ride hailing regulations at different levels of governance. This paper examines regulatory approaches to ride hailing in Canada's three largest metropolitan regions: Toronto, Montreal, and Vancouver. Though united by a national border, these three regions are subject to unique governance approaches, histories, and trajectories. Although ground transportation in Canada usually falls within local or municipal authority, only Toronto, amongst these three city‐regions, treats the regulation of ground transportation as a local responsibility. In both Montreal and Vancouver, which are subject to different regulatory and governance structures, ride hailing is primarily regulated at the provincial level. As a more detailed examination reveals, we can further distinguish the three metropolitan areas based on the extent of intraregional coordination and regional mobility. By introducing these two concepts, the paper explores both the intended and unintended regional impacts of ride hailing regulations. These findings are relevant not only to ride hailing, but also to broader questions about governing both regional mobility and the platform economy.

The downside risk of mutual funds: Does the quality of corporate governance matter? Empirical evidence from Pakistan

The downside risk of mutual funds: Does the quality of corporate governance matter? Empirical evidence from Pakistan

Threat or Corrective? Assessing the Impact of Populist Parties in Government on the Qualities of Democracy: A 19-Country Comparison

AbstractScholars have long debated whether populism harms or improves the quality of democracy. This article contributes to this debate by focusing on the impact of populist parties in government. In particular, it inquires: (1) whether populists in government are more likely than non-populists to negatively affect the quality of democracies; (2) whether the role of populists in government matters; and (3) which type of populism is expected to negatively affect the quality of liberal-democratic regimes. The results find strong evidence that the role of populists in government affects several qualities of democracy. While robust, the findings related to (2) are less clear-cut than those pertaining to (1). Finally, regardless of their role in government, different types of populism have different impacts on the qualities of democracy. The results show that exclusionary populist parties in government tend to have more of a negative impact than other forms of populism.