Search results for: environmental social governance (ESG)

Authors: Helena Susana Afonso Alves, Natália Maria Rafael Canadas, Ana Maria Rodrigues

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We examined the impact of governance rules on information asymmetry, using the turnover ratio and the bid-ask spread as proxies for the information asymmetry. We used a SEM model and analyzed the indirect relations through the voluntary disclosure of information and the organizational performance. We built a voluntary disclosure index based on the information firms provided in their annual reports and divided the governance characteristics in two constructs: directors’ and supervisors’ structures and ownership structure. We concluded that the ownership structure exerts a direct influence on share price and share liquidity, Otherwise, the directors’ and supervisors’ structures exert an indirect influence, through the organizational performance and the voluntary disclosure of information. The results also show that for firms with high levels of disclosure the bid-ask spread is lower. However, in firms with a high ownership concentration investors tend to increase the bid-ask spreads and trade less, which, in this case, reduces the liquidity of the stock. The failure to find the relationship between voluntary disclosure of information and the turnover ratio shows us that the liquidity of shares is more related to the greater or lesser concentration of shareholders, with the performance of their companies than with the access to information. Moreover, it is clear that the role that information disclosure plays is mainly at the level of price formation.

Keywords: corporate governance, information asymmetry, voluntary disclosure, structural equation modelling, SEM

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Authors: Seung Oh, Satoshi Okada

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This study is information-intensive research that provides insight from the factual history, social perception, and robust ideas derived from the social conflict in the most progressively thriving district in the world, Times Square. The case study provides the socio-environmental setup since the Inceptive Point of the development, the Great Depression, the history archives, and evaluation based on the master-level journals as standard. The Great Depression invited macro-sized changes, including financial systems, to raise fluidity by gutting off the debt limit by the gold value, organizing the labor, and social problems in the major cities. The locality of Times Square was implemented by the socio-political changes, overturning ownerships of properties, including theaters, delocalizing tourism, and re-entering the labors with organizations through infrastructure projects and civil activities for minorities and preservations amid the progressive developments over time. Naturally, chasing the media for factual research before and after Inceptive Points. Times Square is understood not just the ‘tower with subway’ progression but also social conflicts raised for adjustment for civil rights, preservations, and progression to deliver the environmental background to trigger the 42nd Street Development (42DP) in the 1990s.

Keywords: development, district, progressive, preservation, social conflict, value chasing

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Authors: Laverne Seales

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When most people think of Panama, they immediately think of the Canal; however, the construction and the people who made it possible are often omitted and seldom acknowledged. The reality is that the construction of this waterway was achieved through forced migration and discriminatory practices toward people of African descent, specifically black people from the Caribbean. From the colonial period to the opening and subsequent operation of the Panama Canal by the United States, this paper goes through the rich layers of Panamanian history to examine the life of Afro-Caribbeans and their descendants in Panama. It also considers the role of the United States in Panama; it explores how the United States in Panama forged a racially complex country that made the integration of Afro-Caribbeans and their descendants difficult. After laying a historical foundation, the exploration of Afro-Caribbean people and Panamanians of Afro-Caribbean descent are analyzed through Afro-Panamanian writer Carlos Guillermo ‘Cubena’ Wilson's novels, short stories, and poetry. This study focuses on how Cubena addresses racism, discrimination, inequality, and social justice issues towards Afro-Caribbeans and their descendants who traveled to Panama to construct the Canal. Content analysis methodology can yield several significant contributions, and analyzing Carlos Guillermo Wilson's literature under this framework allows us to consider social commentary and critique of Panamanian society. It identifies the social issues and concerns of Afro-Caribbeans and people of Afro-Caribbean descent, such as inequality, corruption, racism, political oppression, and cultural identity. Analysis methodology allows us to explore how Cubena's literature engages with questions of cultural identity and belonging in Panamanian society. By examining themes related to race, ethnicity, language, and heritage, this research uncovers the complexities of Panamanian cultural identity, allowing us to interrogate power dynamics and social hierarchies in Panamanian society. Analyzing the portrayal of different social groups, institutions, and power structures helps uncover how power is wielded, contested, and resisted; Cubena's fictional world allows us to see how it functions in Panama. Content analysis methodology also provides for critiquing political systems and governance in Panama. By examining the representation and presentation of political figures, institutions, and events in Cubena's literature, we uncover his commentary on corruption, authoritarianism, governance, and the role of the United States in Panama. Content analysis highlights how Wilson's literature amplifies the voices and experiences of marginalized individuals and communities in Panamanian society. By centering the narratives of Afro-Panamanians and other marginalized groups, this researcher uncovers Cubena's commitment to social justice and inclusion in his writing and helps the reader engage with historical narratives and collective memory in Panama. Overall, analyzing Carlos Guillermo ‘Cubena’ Wilson's literature as a platform for social commentary and critique of Panamanian society using content analysis methodology provides valuable insights into the cultural, social, and political dimensions of Afro-Panamanians during and after the construction of the Panama Canal.

Keywords: Afro-Caribbean, Panama Canal, race, Afro-Panamanian, identity, history

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Authors: Suleiman Ahmed Badayi

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Corporate governance literature is very wide and involves several empirical studies conducted on the relationship between board structure, composition and firm performance. The separation of ownership and control in organizations were aimed at reducing the losses suffered by the investors in the event of financial scandals. This paper reviewed the theoretical and empirical literature on the relationship between board composition and its impact on firm performance. The findings from the studies provide different results while some are of the view that board structure is related to firm performance, many empirical studies indicates no relationship. However, others found a U-shape relationship between firm performance and board structure. Therefore, this study argued that board structure is not much significant to determine the financial performance of a firm.

Keywords: board structure, composition, firm performance, corporate governance

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Authors: Tahar Tayachi, Ahlam Alrehaili

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Purpose: The purpose of this paper is to investigate the relationship between the corporate board characteristics and the dividend policy among firms on the Saudi Stock Exchange. Design/Methodology/Approach: This paper uses a sample of 103 nonfinancial firms over a time period of 4 years from 2015 to 2018. To investigate how corporate governance mechanisms such as board independence, the board size, frequency of meetings, and free cash flow impact dividends, the study uses Logit and Tobit models. Findings: This paper finds that board size, board independence, and frequency of board meetings have no influence on a firm’s decision to pay dividends, while board size has a significantly positive impact on the levels of cash dividends paid to investors. This study also finds that the level of free cash flows has a positively significant influence on both the decision to pay dividends and the magnitude of dividend payouts. Research Limitations/Implications: This paper attempts to study the effectiveness of dividend policy among some firms on the Saudi Stock Exchange. Practical Implications: The findings reveal that board characteristics, which represent one of the crucial mechanisms of corporate governance, were found to be complementary to corporate laws and regulations imposed on the Saudi market in 2015. The findings also imply that capital market authorities should revise their corporate regulations and ensure that protection laws are adequate and strong enough to protect the interests of all shareholders. Originality/Value: This paper is among the few studies focusing on dividend policy in Saudi Arabia. Finally, these findings suggest that the improvements in corporate laws in Saudi Arabia led to such an outcome, and it has become prevalent in dividend policy decisions and behaviors of Saudi firms.

Keywords: agency theory, Tobit, corporate governance, dividend payout, Logit

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Authors: Chen Xi, LIU Xuebin, Kuan Sinman, LI Haofeng, Huang Hongming, Zeng Chengyu, Lao Xuerui

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Stray animals are on the rise in mainland China's cities. There are legal reasons for this, namely the lack of protection for domestic pets in mainland China, where only wildlife protection laws exist. At a social level, the ease with which families adopt pets and the lack of a social view of animal nature have led to the frequent abandonment and loss of stray animals. If left unmanaged, conflicts between humans and stray animals can also increase. This project provides an inexpensive and widely applicable management tool for urban management by collecting videos and pictures of stray animals captured by surveillance or transmitted by humans and using artificial intelligence technology (mainly using Yolov5 recognition technology) and recording and managing them in a database.

Keywords: urban planning, urban governance, artificial intelligence, convolutional neural network, machine vision

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Authors: Nasir Haruna Soba

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In addition to sustaining poverty and inequality, the issue of out-of-school children impedes efforts to accomplish the sustainable development goals (SDGs), especially Goal 4, which is to guarantee inclusive, egalitarian, and high-quality education for everyone. However, a number of social, cultural, and infrastructure barriers mean that millions of children in Nigeria are denied this privilege. This paper presents the findings of a case study conducted in Nigeria. The findings of this study revealed that out of school children in Nigeria are the most common causes of poverty; inadequate school facilities, long distances to schools, and poor road networks make it difficult for children, especially in rural areas, to access education. Social Disparities: Social inequality is sustained by differences in education, especially when it comes to financing, governance, and coordination amongst stakeholders. These differences are especially pronounced along gender and socioeconomic lines. The study recommended that policymakers and stakeholders should consider addressing the root causes, enhancing existing interventions, and implementing targeted policy measures. Nigeria can make significant strides towards ensuring inclusive and quality education for all children, thereby fostering sustainable development and reducing poverty.

Keywords: poverty, inequality, funding, education, development

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Authors: Weena Eiamprapai

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The growth of Thai society in western style in the middle of Rattanakosin period can be defined as modernization /civilization. These terms had an influence on the development of the country in the reign of King Rama V owing to the governance reform, and cultures influenced by the West. Those were passed on until the reign of King Rama VI. The preference was not only for the renovation of architecture and arts based on Thai customs reflecting the prosperity and beauty of handicrafts but also for the acceptance of westernization. The remain of this acceptance includes the concept of such value as gentlemanly behavior like that in Victorian Era of the United Kingdom, and the support of women’s status. Moreover, the wide spread of modernization leads to the movement to change the country’s governance system from absolute monarchy to democracy by a group of people called Rattanakosin Era (R.E.) 130 party.

Keywords: art, culture, development period, modernization, King Rama VI

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Authors: Noor Abdelhamid

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Almost half of Cairo’s growing population is housed in self-built, self-governed informal settlements serving as an alternative in the absence of government-provided public housing. These settlements emerged as the spatial expression of informal practices or activities operating outside regulated, formal frameworks. A comprehensive narrative of political events, administrative decisions, and urban policies set the stage for the growth of informal expression in Egypt. The purpose of this qualitative inquiry is to portray informal self-governance practiced by residents in the Cairo region. This research argues that informal spatial practices offer an alternative urban framework for bottom-up development in the absence of government provisions. In the context of this study, informal self-governance is defined as the residents’ autonomous control and use of public urban space in informal settlements. The case study for this research is Ard al-Liwa, a semi-formal settlement representing the majority of informal settlement typologies in Egypt, which consist of the formal occupation of land through an uncontrolled land subdivision, zoning, and construction. An inductive methodological approach is adopted to first study informal practices as singular activities and then as components of a larger environment. The collected set of empirical data consists of audiovisual material and observations obtained during regular site visits and interviews with residents native to the settlement. Methods of analysis are synthesized to identify themes in the data: the static and dynamic use of sidewalks, the urban traces of informal building allocation and construction, the de facto right to urban space, and the resultant spatial patterns. The paper concludes by positioning the research in the context of the current architectural practice, questioning the role, and responsibility, of designers in these self-governed urban regions.

Keywords: Egypt, informal settlements, self-governance, urban framework

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Authors: Jiaqi Yan, Yani Shi

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With the growing popularity of bitcoin transactions, criminals have exploited the bitcoin like cryptocurrencies, and cybercriminals such as money laundering have thrived. Unlike traditional currencies, the Internet-based virtual currencies can be used anonymously via the blockchain technology underpinning. In this paper, we analyze the double-edged sword features of blockchain technology in the context of money laundering. In particular, the traceability feature of blockchain-based system facilitates a level of governance, while the decentralization feature of blockchain-based system may bring governing difficulties. Based on the analysis, we propose guidelines for policy makers in governing blockchain-based cryptocurrency systems.

Keywords: cryptocurrency, money laundering, blockchain, decentralization, traceability

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Authors: M. Soubadra Devy, Savitha Swamy, Chethana V. Casiker

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Sustainable smart cities are emerging as an important concept in response to the exponential rise in the world’s urbanizing population. While earlier, only technical, economic and governance based solutions were considered, more and more layers are being added in recent times. With the prefix of 'sustainability', solutions which help in judicious use of resources without negatively impacting the environment have become critical. We present a case study of Bangalore city which has transformed from being a garden city and pensioners' paradise to being an IT city with a huge, young population from different regions and diverse cultural backgrounds. This has had a big impact on the green spaces in the city and the biodiversity that they support, as well as on farming/gardening practices. Edible landscapes comprising farms lands, home gardens and neighbourhood parks (NPs henceforth) were examined. The land prices of areas having NPs were higher than those that did not indicate an appreciation of their aesthetic value. NPs were part of old and new residential areas largely managed by the municipality. They comprised manicured gardens which were similar in vegetation structure and composition. Results showed that NPs that occurred in higher density supported reasonable levels of biodiversity. In situations where NPs occurred in lower density, the presence of a larger green space such as a heritage park or botanical garden enhanced the biodiversity of these parks. In contrast, farm lands and home gardens which were common within the city are being lost at an unprecedented scale to developmental projects. However, there is also the emergence of a 'neo-culture' of home-gardening that promotes 'locovory' or consumption of locally grown food as a means to a sustainable living and reduced carbon footprint. This movement overcomes the space constraint by using vertical and terrace gardening techniques. Food that is grown within cities comprises of vegetables and fruits which are largely pollinator dependent. This goes hand in hand with our landscape-level study that has shown that cities support pollinator diversity. Maintaining and improving these man-made ecosystems requires analysing the functioning and characteristics of the existing structures of governance. Social network analysis tool was applied to NPs to examine relationships, between actors and ties. The management structures around NPs, gaps, and means to strengthen the networks from the current state to a near-ideal state were identified for enhanced services. Learnings from NPs were used to build a hypothetical governance structure and functioning of integrated governance of NPs and edible landscapes to enhance ecosystem services such as biodiversity support, food production, and aesthetic value. They also contribute to the sustainability axis of smart cities.

Keywords: biodiversity support, ecosystem services, edible green spaces, neighbourhood parks, sustainable smart city

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Authors: Bi-Huei Tsai

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Previous studies on financial distress prediction choose the conventional failing and non-failing dichotomy; however, the distressed extent differs substantially among different financial distress events. To solve the problem, “non-distressed”, “slightly-distressed” and “reorganization and bankruptcy” are used in our article to approximate the continuum of corporate financial health. This paper explains different financial distress events using the two-stage method. First, this investigation adopts firm-specific financial ratios, corporate governance and market factors to measure the probability of various financial distress events based on multinomial logit models. Specifically, the bootstrapping simulation is performed to examine the difference of estimated misclassifying cost (EMC). Second, this work further applies macroeconomic factors to establish the credit cycle index and determines the distressed cut-off indicator of the two-stage models using such index. Two different models, one-stage and two-stage prediction models, are developed to forecast financial distress, and the results acquired from different models are compared with each other, and with the collected data. The findings show that the two-stage model incorporating financial ratios, corporate governance and market factors has the lowest misclassification error rate. The two-stage model is more accurate than the one-stage model as its distressed cut-off indicators are adjusted according to the macroeconomic-based credit cycle index.

Keywords: Multinomial logit model, corporate governance, company failure, reorganization, bankruptcy

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Authors: Aline F. Marcon, Eduardo F. da Silva, Marina Bouzon

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The impact of lean management on environmental sustainability is the research line that receives the most attention from academicians. Therefore, the social dimension of sustainable development has so far received less attention. This paper aims to evaluate the impact of intra-plant lean manufacturing practices on social sustainability indicators extracted from the Global Reporting Initiative (GRI) parameters. The method is two-phased, including MCDM approach to uncover the most relevant practices regarding social performance and Interpretive Structural Modeling (ISM) method to reveal the structural relationship among lean practices. Professionals from the academic and industrial fields answered the questionnaires. From the results of this paper, it is possible to verify that practices such as “Safety Improvement Programs”, “Total Quality Management” and “Cross-functional Workforce” are the ones which have the most positive influence on the set of GRI social indicators.

Keywords: indicators, ISM, lean, social, sustainability

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Authors: Mojtaba Javdan, Kamran Jafarpour Ghalehteimouri, Moslem Ghasemi, Arezu Riazi

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Tourism has a huge multiplier effect on other socioeconomic sectors, resulting in better infrastructure and public services. However, its environmental impact is still a source of concern. As a result, a greater emphasis has been placed on improving the sustainability of tourist destinations. Despite the global significance of sustainability assessment, only a few widely accepted methods for measuring sustainability exist. As a result, the life cycle concept is used to evaluate environmental, economic, and social consequences. The Social Life Cycle Assessment (S-LCA) is a crucial life cycle tool. Due to the tourism-specific service specifications, tourism-related activities are well-suited for the elaboration of data related to social sustainability. Therefore, the possibility of how the S-LCA is involved in ensuring cultural tourism destinations' long-term viability can be the main question. To answer this question, this article examines the theoretical evolution of both the S-LCA and cultural tourism. Potential application gaps are investigated, and an S-LCA framework for sustainable cultural tourism destinations is proposed and discussed. Thus, by bringing all stakeholders' interests together, the proposed S-LCA conceptual framework can play an effective role in achieving the principles and objectives of sustainable tourism destination management.

Keywords: social life cycle assessment, sustainable cultural tourism destinations, sustainable tourism destination management, S-LCA framework

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Authors: Belakhdar Salah Brahim

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The Urban management is a major element of social control of public space and thus the functioning of society. As such, it is a key element of a social conception of sustainable development. Also, it is a cross-cutting sector that relies on land management, infrastructure management, habitat management, management of social services, the management of economic development, etc. This study aims to study how urban management focusing on the study of problems related to urban waste management in developing countries. It appears from the study that the city management is to improve infrastructure and urban services in order to increase the city's development and improve living conditions in cities. It covers various aspects including management of urban space, economic management, administrative management, asset management or infrastructure and finally waste management. Environmental management is important because it solves the pollution problems of life and preserve resources for future generations. Changing perceptions of waste has led to the definition of new policies for integrated waste management requirements appropriate to the urban site.

Keywords: urbanization, urban management, environmental management, waste management

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Authors: Radhika Ralhan

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With the formalization of 2030, Global Agenda for Sustainable Development nations have instantaneously geared up their efforts towards the implementation of a comprehensive list of global goals. The criticality of Sustainable Development Goals (SDGs) is imperative, as it will define the course and pace of development for the next 15 years. This development will entail transformational shifts towards a green and inclusive growth. Leadership, investments and technology will constitute as key ingredients of this transformational shift and governance will emerge as a one of the most significant driver of the global 2030 agenda. Corporate Governance is viewed as one of the key force to accelerate the momentum of SDGs and initiate these transformational shifts. Many senior level leaders have reinstated their conviction that adopting a triple bottom line approach will play an imperative role in transforming the entire industrial sector. In the Indian context, the above occurrence bears an intriguing facet, as the framing of SDGs in the global scenario coincided with the emergence of mandatory Corporate Social Responsibility (CSR) Rules in India at national level. As one of the leading democracies in the world, India is among few countries to formally mandate companies to spend 2% from their CSR funds under Section 135 of The New Companies Act 2013. The overarching framework of SDGs correlates to the areas of CSR interventions as mentioned in the Schedule VII of Section 135. As one of the legitimate stakeholders, business leaders have expressed their commitments to their respective governments, to reorient the entire fabric of their companies to scale up global priorities. This is explicitly seen in the case of India where leading business entities have converged national government priorities of Clean India, Make in India and Skill India by actively participating in the campaigns and incorporating these programmes within the ambit of their CSR policies. However, the CSR Act has received mixed responses with associated concerns such as the onus of doing what the government has to do, mandatory reporting mechanisms, policy disclosures, personnel handling CSR portfolios etc. The overall objective of the paper, therefore, rests in analyzing the discourse of CSR and the perspectives of Indian Inc. in imbibing the principles of SDGs within their business polices and operations. Through primary and secondary research analysis, the paper attempts to outline the diverse challenges that are being faced by Indian businesses while establishing the business case of sustainable responsibility. Some of the principal questions that paper addresses are: What are the SDG priorities for India Inc. as per their respective industry sectors? How can corporate policies imbibe the SDGs principles? How can the global concerns in form of SDGs align with the national CSR mandate and development issues? What initiatives have been undertaken by the companies to integrate their long term business strategy and sustainability? The paper will also reinstate an approach or a way forward that will enable businesses to proceed beyond compliance and accentuate the principles of responsibility and transparency within their operational framework.

Keywords: corporate social responsibility, CSR, India Inc., section 135, new companies act 2013, sustainable development goals, SDGs, sustainability, corporate governance

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Authors: Esmaeil Khodadad

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The environment is one of the hotbeds of global politics. It is only necessary to emphasize the human being on this word, and to take it as a serious political-social debate, so as to prevent the collapse of the harmony of the system of nature governing the earth, the landlord and its creatures. Earth, water and humans are three interconnected arms that should be kept in balance and harmony. The collapse of one of these arms disrupts the entire framework of the philosophy of life on earth. Environmental issues were found worldwide in the late 20th century and were given serious attention by experts. At the same time, international environmental issues have brought to the forefront the challenges of international relations. These ideas have introduced environmental issues and some of the main features of the causes and consequences of global environmental change, as well as ways to deal with this change Has been discussed. The objectives of this study are environmental issues in the world and in Iran, and it shows what factors contribute to the formation of spatial systems and its supporting systems, and finally what the goals should be about the ideal state of the future of the global environment and its issues. The information required for this research is a combination of documentary, descriptive-analytical and library methods.

Keywords: environment, environmental issues, flower, oeacen

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Authors: Oluwagbemiga Paul Agboola, Cornelius Olatunji Omojola, Dayo Martins Oyeshomo

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The role of a recreational park in human and environmental development has attracted much interest in the recent time. Recreation parks' development could act as an effective planning strategy to enhance environmental sustainability, social cohesiveness, and users' quality of life. Similarly, parks enhance neighbourhood's aesthetics, refresh the air and enhance humans' contact with nature. In this connection, recreation parks create natural surroundings of rural areas for leisure, relaxation, recreation, psychological and physical comfort of the people. The purpose of this paper is to investigate the effectiveness of the two recreational parks' development as a strategy for neighbourhood's environmental improvement, sustainability and the recreationists' cohesiveness. A total number of 158 survey questionnaires were distributed to the tourists at Ikogosi cold and warm spring in Ekiti state as well as Olumirin waterfalls, Erin-Ijesa, Osun State, in South-West, Nigeria. The quantitative results of the analyzed data with Relative Importance Index (RII) revealed that recreation parks provide optimum opportunities for users' social cohesiveness and well-being while parks' sustainable environment could be enhanced base on the provision of essential facilities, services, and future developmental plans. It is recommended that for recreation parks to realize their full potential in environmental sustainability, adequate maintenance and provision of essential facilities becomes imperative.

Keywords: environmental sustainability, neighbourhood development, recreational park, Nigeria

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Authors: Fatemeh Norouzi

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Today, financial performance has become one of the important issues in accounting and auditing that companies and their managers have paid attention to this issue and for this reason to the variables that are influential in this field. One of the things that can affect financial performance is corporate governance, which is examined in this research, although some things such as issues related to auditing can also moderate this relationship; Therefore, this research has been conducted with the aim of investigating the relationship between corporate governance and financial performance with regard to the moderating role of feedback and internal control weakness. The research is practical in terms of purpose, and in terms of method, it has been done in a post-event descriptive manner, in which the data has been analyzed using stock market data. Data collection has been done by using stock exchange data which has been extracted from the website of the Iraqi Stock Exchange, the statistical population of this research is all the companies admitted to the Iraqi Stock Exchange. . The statistical sample in this research is considered from 2014 to 2021, which includes 34 companies. Four different models have been considered for the research hypotheses, which are eight hypotheses, in this research, the analysis has been done using EXCEL and STATA15 software. In this article, collinearity test, integration test ,determination of fixed effects and correlation matrix results, have been used. The research results showed that the first four hypotheses were rejected and the second four hypotheses were confirmed.

Keywords: size of the board of directors, duality of the CEO, financial performance, internal control weakness

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Authors: Xabier Barandiaran, Igone Guerra

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The economic and financial crisis that hit European countries in 2008 revealed the inability of governments to respond unilaterally to the so-called “wicked” problems that affect our societies. Closely linked to this, the increasing disaffection of citizens towards politics has resulted in growing distrust of the citizenry not only in the institutions in general but also in the political system, in particular. Precisely, these two factors provoked the action of the local government of Gipuzkoa (Basque Country) to move from old ways of “doing politics” to a new way of “thinking politics” based on a collaborative approach, in which innovative modes of public decision making are prominent. In this context, in 2015, the initiative Etorkizuna Eraikiz (Building the Future), a contemporary form of networked governance, was launched by the Provincial Government. The paper focuses on the Etorkizuna Eraikiz initiative, a sound commitment from a local government to build jointly with the citizens the future of the territory. This paper will present preliminary results obtained from three different experiences of co-creation developed within Etorkizuna Eraikiz in which the formulation of networked governance is a mandatory pre-requisite. These experiences show how the network building approach among the different agents of the territory as well as the co-creation of public policies is the cornerstone of this challenging mission. Through the analysis of the information and documentation gathered during the four years of Etorkizuna-Eraikiz, and, specifically by delving into the strategy promoted by the initiative, some emerging analytical conclusions resulting from the promotion of this collaborative culture will be presented. For example, some preliminary results have shown a significant positive relationship between shared leadership and the formulation of the public good. In the period 2016-2018, a total of 73 projects were launched and funding by the Provincial Government of Gipuzkoa within the Etorkizuna Eraikiz initiative, that indicates greater engagement of the citizenry in the process of policy-making and therefore improving, somehow, the quality of the public policies. These statements have been supported by the last survey about the perspectives of the citizens toward politics and policies. Some of the more prominent results show us that there is still a high level of distrust in Politics (78,9% of respondents) but a greater trust in institutions such the Political Government of Gipuzkoa (40,8% of respondents declared as “good” the performance of this provincial institution). Regarding the Etorkizuna Eraikiz Initiative, it is being more readily recognized by citizens over this period of time (25,4% of the respondents in June 2018 agreed to know about the initiative giving it a mark of 5,89 ) and thus build trust and a sense of ownership. Although, there is a clear requirement for further research on the linkages between collaborative governance and level of trust, the paper, based on these findings, will provide some managerial and theoretical implications for collaborative governance in the territory.

Keywords: network governance, collaborative governance, public sector innovation, citizen participation, trust

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Authors: Taimaz Larimian

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During recent years, sustainable development has increasingly influenced urban policy, housing and planning in cities all over the world. Debates about sustainability no longer consider it solely as an environmental concern, but also incorporate social and economic dimensions. However, while a social dimension of sustainability is extensively accepted, the exact definition of the concept is still vague and unclear. This study is addressing this lack of specificity through a detailed exploration of social sustainability as the least studied pillar of sustainable development and sheds light on the debate over the definition of social sustainability through developing a measurement model of the constitutive dimensions of the concept. With this aim, a conceptual framework is developed based on the existing literature, determining seven main dimensions of the social sustainability concept namely: social interaction, safety and security, social equity, social participation, neighborhood satisfaction, housing satisfaction and sense of place. The validity and reliability of the model is then tested using exploratory and confirmatory factor analysis. In order to do so, five case study neighborhoods from Dunedin city with a range of urban forms and characters are investigated, to define social sustainability concept and its consisting dimensions from people’s perspective. The findings of this study present a clear definition of social sustainability at neighborhood scale and highlight all different dimensions of the concept in the context of New Zealand cities. According to the results, among the investigated dimensions, neighborhood satisfaction and safety and security had the most influence on people’s feeling of social sustainability in their neighborhood.

Keywords: social sustainability, factor analysis, neighborhood level, New Zealand cities

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Authors: Taimaz Larimian, Negin Sadeghi

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Very little is known about the impacts of urban security on the level of social sustainability within the cities of developing countries. Urban security is still struggling to find its position in the social sustainability agenda, despite the significant role of safety and security on different aspects of peoples’ lives. This paper argues that urban safety and security should be better integrated within the social sustainability framework. With this aim, this study investigates the hypothesized relationship between social sustainability and Crime Prevention through Environmental Design (CPTED) approach at the neighborhood scale. This study proposes a model of key influential dimensions of CPTED analyzed into localized factors and sub-factors. These factors are then prioritized using pairwise comparison logic and fuzzy group Analytic Hierarchy Process (AHP) method in order to determine the relative importance of each factor on achieving social sustainability. The proposed model then investigates social sustainability in six case study neighborhoods of Isfahan city based on residents’ perceptions of safety within their neighborhood. Mixed method of data collection is used by using a self-administered questionnaire to explore the residents’ perceptions of social sustainability in their area of residency followed by an on-site observation to measure the CPTED construct. In all, 150 respondents from selected neighborhoods were involved in this research. The model indicates that CPTED approach has a significant direct influence on increasing social sustainability in neighborhood scale. According to the findings, among different dimensions of CPTED, ‘activity support’ and ‘image/ management’ have the most influence on people’s feeling of safety within studied areas. This model represents a useful designing tool in achieving urban safety and security during the development of more socially sustainable and user-friendly urban areas.

Keywords: crime prevention through environmental design (CPTED), developing countries, fuzzy analytic hierarchy process (FAHP), social sustainability

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Authors: My Linh Hoang, Van Dung Hoang

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Environmental, Social, and Governance (ESG) factors have become a focus for companies globally, as businesses are now focusing on long-term sustainable goals rather than only operating for the goals of profit maximization. According to recent research, in several countries, companies have shown positive results in their financial performance by improving their ESG performance. The construction industry is one of the most crucial components of social and economic development; as a result, considerations for ESG factors are becoming more and more essential for companies in this sector. In Vietnam, the construction industry has been growing rapidly in recent years; however, it has yet to be discussed and studied extensively in Vietnam how ESG factors create impacts on corporate financial performance in general and construction corporations’ financial performance in particular. This research aims to examine the relationship between ESG factors and financial indicators in construction companies from 2011 to 2021 through panel data analysis of 75 listed construction companies in Vietnam and to provide insights into how these companies can better integrate ESG considerations into their operations to enhance their financial performance. The data was analyzed through 3 main methods: descriptive statistics, correlation coefficient analysis applied to all dependent, explanatory and control variables, and panel data analysis method. In panel data analysis, the study uses the fixed effects model (FEM) and random effects model (REM). The Hausman test will be used to select which model is suitable to be used. The findings indicate that maintaining a strong commitment to ESG principles can have a positive impact on financial performance. Finally, FGLS estimation will be performed when the problem of autocorrelation and variable variance appears in the model. This is significant for all parties involved, including investors, company managers, decision-makers, and industry regulators.

Keywords: ESG, financial performance, construction company, Vietnam

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Authors: Egboja Simon Oga

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One of the most important keys to the success of a nation is to ensure steady development and national economic self-sufficiency and independence. It is therefore in this regard that this paper is designed to identify food security to be crucial to all nations’ effort toward sustainable national development. Nigeria as a case study employed various effort by the successive government towards food security. Emphasis were placed on the extent to which government has boosted food security situation on the basis of the identified limitations, conclusion was drawn, recommendation/suggestions proffered, that subsidization of the process of farm inputs like fertilizer, improved seeds and agrochemical, education of farmers on modern methods of farming through extension services, improvisation of village-based food storage mechanism and provision of infrastructural facilities in rural areas to facilitate the preservation and easy evacuation of farm produces are necessary.

Keywords: food, governance, development, security

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Authors: Maria Jose Granero Paris, Ana Isabel Jimenez Zarco, Agustin Pablo Alvarez Herranz

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In the industrial sector collaboration with suppliers is key to the development of innovations in the field of processes. Access to resources and expertise that are not available in the business, obtaining a cost advantage, or the reduction of the time needed to carry out innovation are some of the benefits associated with the process. However, the success of this collaborative process is compromised, when from the beginning not clearly rules have been established that govern the relationship. Abundant studies developed in the field of innovation emphasize the strategic importance of the concept of “Goverance”. Despite this, there have been few papers that have analyzed how the governance process of the relationship must be designed and managed to ensure the success of the cooperation process. The lack of literature in this area responds to the wide diversity of contexts where collaborative processes to innovate take place. Thus, in sectors such as the car industry there is a strong collaborative tradition between manufacturers and suppliers being part of the value chain. In this case, it is common to establish mechanisms and procedures that fix formal and clear objectives to regulate the relationship, and establishes the rights and obligations of each of the parties involved. By contrast, in other sectors, collaborative relationships to innovate are not a common way of working, particularly when their aim is the development of process improvements. It is in this case, it is when the lack of mechanisms to establish and regulate the behavior of those involved, can give rise to conflicts, and the failure of the cooperative relationship. Because of this the present paper analyzes the similarities and differences in the processes of governance in collaboration with service providers in engineering R & D in the European aerospace industry. With these ideas in mind, we present research is twofold: - Understand the importance of governance as a key element of the success of the cooperation in the development of process innovations, - Establish the mechanisms and procedures to ensure the proper management of the processes of cooperation. Following the methodology of the case study, we analyze the way in which manufacturers and suppliers cooperate in the development of new processes in two industries with different levels of technological intensity and collaborative tradition: the automotive and aerospace. The identification of those elements playing a key role to establish a successful governance and relationship management and the compression of the mechanisms of regulation and control in place at the automotive sector can be use to propose solutions to some of the conflicts that currently arise in aerospace industry. The paper concludes by analyzing the strategic implications for the aerospace industry entails the adoption of some of the practices traditionally used in other industrial sectors. Finally, it is important to highlight that in this paper are presented the first results of a research project currently in progress describing a model of governance that explains the way to manage outsourced engineering services to suppliers in the European aerospace industry, through the analysis of companies in the sector located in Germany, France and Spain.

Keywords: innovation management, innovation governance, managing collaborative innovation, process innovation

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Authors: Francis Kwesi Bondinuba, Seidu Abdullah, Nelly Bondinuba

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Purpose: The study proposes a theoretical framework for integrating sustainable project management in the construction sector, addressing the need for sustainable development practices. Methodology: The study adopts a theoretical approach by reviewing existing literature on sustainable development and project management in the construction industry. It analyses various concepts, theories, and frameworks to develop a comprehensive theoretical framework for integrating sustainable project management. Findings: The study emphasizes the importance of incorporating sustainable development practices into construction project management, focusing on collaboration, stakeholder engagement, and continuous improvement to achieve environmental conservation, social responsibility, and economic viability. Conclusion: Sustainable Project Management (SPM) in Ghana's construction industry is challenging due to lack of awareness, regulatory frameworks, financial constraints, and skill shortages, despite its benefits in promoting social inclusivity, job creation, and environmental resilience. Recommendation: The construction industry in Ghana should adopt a comprehensive approach involving local communities, government bodies, and environmental organizations. It should utilize green materials and technologies and effectively manage waste. Originality: This study presents a theoretical framework for sustainable project management in construction. It emphasizes collaboration and stakeholder engagement for long-term sustainable outcomes and considers environmental, social, and economic aspects.

Keywords: construction industry, theoretical framework, integration, project management, sustainable development

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Authors: Jenny Ngo, Harry De Boer, Jurgen Enders

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Indonesian higher education has experienced significant changes over the last decade. In 1999, the government published an overall strategy for decentralization and enhancement of local autonomy in many sectors, including (higher) education. Indonesian higher education reforms have forced universities to restructure their internal university governance to become more entrepreneurial. These new types of internal university governance are likely to affect the institutions’ leadership and management. This paper discusses the approach and findings of a study on the managerial leadership styles of deans in Indonesian universities. The study aims to get a better understanding of styles exhibited by deans manifested in their behaviors. Using the theories of reasoned action and planned behavior, in combination with the competing values framework, a large-scale survey was conducted to gather information on the deans’ behaviors, attitudes, subjective norms, and perceived behavioral control. Based on the responses of a sample of 218 deans, the study identifies a number of leadership styles: the Master, the Competitive Consultant, the Consensual Goal-Setter, the Focused Team Captain, and the Informed Trust-Builder style. The study demonstrates that attitudes are the primary determinant of the styles that were found. Perceived behavioral control is a factor that explains some managerial leadership styles. By understanding the attitudes of deans in Indonesian universities, and their leadership styles, universities can strengthen their management and governance, and thus improve their effectiveness.

Keywords: deans, Indonesian higher education, leadership and management styles, decentralization

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Authors: Panida Jongsuksomsakul

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This study of the ‘happiness’ and ‘sustainability’ in the community of Donkeaw, Amphoe Mae Rim, Chiang Mai Province during the non-election period in Thailand, noted that their happiness levels are in the middle-average range. This was found using a mixed approach of qualitative and quantitative methods (N = 386, α = 0.05). The study explores indicators for six aspects of well-being and happiness, including, good local governance, administrative support for the health system that maintains people’s mental and physical health, environment and weather, job security and a regular income aids them in managing a sustainable lifestyle. The impact of economic security and community relationships on social and cultural capital, and the way these aspects impact on the life style of the community, affects the sustainable well-being of people. Moreover, living with transparency and participatory communication led to diverse rewards in many areas.

Keywords: communication, happiness, well-being, Donkeaw community, social and cultural capital

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Authors: Ketevan Kokrashvili, Rusudan Kutateladze, Nino Pailodze

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Importance of management of legal entities under private law of which especially corporate management, as well as looking for ways of its improvement and perfection has become especially relevant in the twenty-first century, which was greatly contributed to by the global economic crisis. Some states have adopted Corporate Governance Codes; the European Union has set to work on a series of directives the main purpose of which is an improvement of corporate governance, provision of greater transparency and implementation of an effective control mechanism. This process is not yet completed, and various problematic issues associated with management of legal persons are still being debated among practitioner experts and scholars. Georgia is not an exception in this regard. The article discusses the legislative gaps, and in some cases, discrepancies having arisen in legal relationships under private law and having caused many practical problems. This especially applies to the management of capital companies.

Keywords: business entities, corporate management, capital public management, existing problems, legal discrepancies

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Authors: Po-Ching Wang

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Public art may be regarded as a social agenda. It is assumed that public art acts as an intermediate form that contributes significantly to community resurgence. That is, public art may be regarded as a verb/process or social intervention. It functions as a vanguard form, attacking boundaries and providing a sensibility for social strategy. Public art in tradition is generally expected to bring aesthetic pleasure to public. Contemporary public art, however, not only focuses on art installation, but it also often offers a process that aims to comment on, question, and challenge the socio-cultural status quo. During the last few decades, accelerated changes in the values and expectations brought to bear on varied urban issues, together with the destruction of the hegemony of traditional art and of museum authorities, has begun to contribute to freer and more democratic representations of public art. It is said that part of a public artwork’s role is to ruffle sacred feathers. In many cases, public art is created to address the dynamic social contradictions and mutability of public life; and artists and community participants approach public art from a variety of social critical perspectives and methodologies. Urban issues, such as social and environmental justice, health problems, violence, and political statements, provide plentiful source materials that fuel the performance of public art in many different settings. Further, public artworks have been extensively adopted to express social identity, make political statements, and/or to remedy social and environmental crises. Many murals on urban walls, for instance, reflect social conflicts and address civic rights, and these projects are usually the work of artists who though denied access to traditional gallery and museum channels are supported by community engagement and involvement. Public art as a social practice challenges the traditional western view of artistic practice. Art in the public realm creates a new media that provides a platform for a dialogical exchange between diverse social groups. It seems that public art has evolved as an arena for activism that addresses wide-ranging and highly controversial social issues and civilian concerns. The findings of this study indicate that public artworks are capable of playing a role of activist in facilitating community evolution via social progress.

Keywords: aesthetics, community regeneration, city development, publicness, public participation, social progress

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