Search results for: indigenous firms
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 1553

Search results for: indigenous firms

983 Adoption of International Financial Reporting Standards and Earnings Quality in Listed Deposit Money Banks in Nigeria

Authors: Shehu Usman Hassan

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Published accounting information in financial statements are required to provide various users - shareholders, employees, suppliers, creditors, financial analysts, stockbrokers and government agencies – with timely and reliable information useful for making prudent, effective and efficient decisions. The widespread failure in the financial information quality has created the need to improve the financial information quality and to strengthen the control of managers by setting up good firms structures. This paper investigates firm attributes from perspective of structure, monitoring, performance elements of listed deposit money banks in Nigeria. The study adopted correlational research design with balanced panel data of 14 banks as sample of the study using multiple regression as a tool of analysis. The result reveals that firms attributes (leverage, profitability, liquidity, bank size and bank growth) has as significant influence on earnings quality of listed deposit money banks in Nigeria after the adoption of IFRS, while the pre period shows that the selected firm attributes has no significant impact on earnings quality. It is therefore concluded that the adoption of IFRS is right and timely.

Keywords: earnings quality, firm attributes, listed deposit money bank, Nigeria

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982 Corporate Environmentalism: A Case Study in the Czech Republic

Authors: Pavel Adámek

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This study examines perception of environmental approach in small and medium-sized enterprises (SMEs) – the process by which firms integrate environmental concern into business. Based on a review of the literature, the paper synthesizes focus on environmental issues with the reflection in a case study in the Czech Republic. Two themes of corporate environmentalism are discussed – corporate environmental orientation and corporate stances toward environmental concerns. It provides theoretical material on greening organizational culture that is helpful in understanding the response of contemporary business to environmental problems. We integrate theoretical predictions with empirical findings confronted with reality. Scales to measure these themes are tested in a survey of managers in 229 Czech firms. We used the process of in-depth questioning. The research question was derived and answered in the context of the corresponding literature and conducted research. A case study showed us that environmental approach is variety different (depending on the size of the firm) in SMEs sector. The results of the empirical mapping demonstrate Czech company’s approach to environment and define the problem areas and pinpoint the main limitation in the expansion of environmental aspects. We contribute to the debate for recognition of the particular role of environmental issues in business reality.

Keywords: corporate environmentalism, Czech Republic, empirical mapping, environmental performance

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981 Consolidating a Regime of State Terror: A Historical Analysis of Necropolitics and the Evolution of Policing Practices in California as a Former Colony, Frontier, and Late-Modern Settler Society

Authors: Peyton M. Provenzano

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This paper draws primarily upon the framework of necropolitics and presents California as itself a former frontier, colony, and late-modern settler society. The convergence of these successive and overlapping regimes of state terror is actualized and traceable through an analysis of historical and contemporary police practices. At the behest of the Spanish Crown and with the assistance of the Spanish military, the Catholic Church led the original expedition to colonize California. The indigenous populations of California were subjected to brutal practices of confinement and enslavement at the missions. After the annex of California by the United States, the western-most territory became an infamous frontier where new settlers established vigilante militias to enact violence against indigenous populations to protect their newly stolen land. Early mining settlements sought to legitimize and fund vigilante violence by wielding the authority of rudimentary democratic structures. White settlers circulated petitions for funding to establish a volunteer company under California’s Militia Law for ‘protection’ against the local indigenous populations. The expansive carceral practices of Los Angelinos at the turn of the 19th century exemplify the way in which California solidified its regime of exclusion as a white settler society. Drawing on recent scholarship that queers the notion of biopower and names police as street-level sovereigns, the police murder of Kayla Moore is understood as the latest manifestation of a carceral regime of exclusion and genocide. Kayla Moore was an African American transgender woman living with a mental health disability that was murdered by Berkeley police responding to a mental health crisis call in 2013. The intersectionality of Kayla’s identity made her hyper-vulnerable to state-sanctioned violence. Kayla was a victim not only of the explicitly racial biopower of police, nor the regulatory state power of necropolitics but of the ‘asphyxia’ that was intended to invisibilize both her life and her murder.

Keywords: asphyxia, biopower, california, carceral state, genocide, necropolitics, police, police violence

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980 Synergy and Complementarity in Technology-Intensive Manufacturing Networks

Authors: Daidai Shen, Jean Claude Thill, Wenjia Zhang

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This study explores the dynamics of synergy and complementarity within city networks, specifically focusing on the headquarters-subsidiary relations of firms. We begin by defining these two types of networks and establishing their pivotal roles in shaping city network structures. Utilizing the mesoscale analytic approach of weighted stochastic block modeling, we discern relational patterns between city pairs and determine connection strengths through statistical inference. Furthermore, we introduce a community detection approach to uncover the underlying structure of these networks using advanced statistical methods. Our analysis, based on comprehensive network data up to 2017, reveals the coexistence of both complementarity and synergy networks within China’s technology-intensive manufacturing cities. Notably, firms in technology hardware and office & computing machinery predominantly contribute to the complementarity city networks. In contrast, a distinct synergy city network, underpinned by the cities of Suzhou and Dongguan, emerges amidst the expansive complementarity structures in technology hardware and equipment. These findings provide new insights into the relational dynamics and structural configurations of city networks in the context of technology-intensive manufacturing, highlighting the nuanced interplay between synergy and complementarity.

Keywords: city system, complementarity, synergy network, higher-order network

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979 Reassembling a Fragmented Border Landscape at Crossroads: Indigenous Rights, Rural Sustainability, Regional Integration and Post-Colonial Justice in Hong Kong

Authors: Chiu-Yin Leung

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This research investigates a complex assemblage among indigenous identities, socio-political organization and national apparatus in the border landscape of post-colonial Hong Kong. This former British colony had designated a transient mode of governance in its New Territories and particularly the northernmost borderland in 1951-2012. With a discriminated system of land provisions for the indigenous villagers, the place has been inherited with distinctive village-based culture, historic monuments and agrarian practices until its sovereignty return into the People’s Republic of China. In its latest development imperatives by the national strategic planning, the frontier area of Hong Kong has been identified as a strategy site for regional economic integration in South China, with cross-border projects of innovation and technology zones, mega-transport infrastructure and inter-jurisdictional arrangement. Contemporary literature theorizes borders as the material and discursive production of territoriality, which manifest in state apparatus and the daily lives of its citizens and condense in the contested articulations of power, security and citizenship. Drawing on the concept of assemblage, this paper attempts to tract how the border regime and infrastructure in Hong Kong as a city are deeply ingrained in the everyday lived spaces of the local communities but also the changing urban and regional strategies across different longitudinal moments. Through an intensive ethnographic fieldwork among the borderland villages since 2008 and the extensive analysis of colonial archives, new development plans and spatial planning frameworks, the author navigates the genealogy of the border landscape in Ta Kwu Ling frontier area and its implications as the milieu for new state space, covering heterogeneous fields particularly in indigenous rights, heritage preservation, rural sustainability and regional economy. Empirical evidence suggests an apparent bias towards indigenous power and colonial representation in classifying landscape values and conserving historical monuments. Squatter and farm tenants are often deprived of property rights, statutory participation and livelihood option in the planning process. The postcolonial bureaucracies have great difficulties in mobilizing resources to catch up with the swift, political-first approach of the mainland counterparts. Meanwhile, the cultural heritage, lineage network and memory landscape are not protected altogether with any holistic view or collaborative effort across the border. The enactment of land resumption and compensation scheme is furthermore disturbed by lineage-based customary law, technocratic bureaucracy, intra-community conflicts and multi-scalar political mobilization. As many traces of colonial misfortune and tyranny have been whitewashed without proper management, the author argues that postcolonial justice is yet reconciled in this fragmented border landscape. The assemblage of border in mainstream representation has tended to oversimplify local struggles as a collective mist and setup a wider production of schizophrenia experiences in the discussion of further economic integration among Hong Kong and other mainland cities in the Pearl River Delta Region. The research is expected to shed new light on the theorizing of border regions and postcolonialism beyond Eurocentric perspectives. In reassembling the borderland experiences with other arrays in state governance, village organization and indigenous identities, the author also suggests an alternative epistemology in reconciling socio-spatial differences and opening up imaginaries for positive interventions.

Keywords: heritage conservation, indigenous communities, post-colonial borderland, regional development, rural sustainability

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978 Impact of Tourism on Sustainability on Essaouira Destination in Morocco

Authors: Hadach Mohamed

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Tourism becomes more and more a source of added value for developing countries. In Morocco, the sector contributes at 20% of national GDP, or the effects of this activity become increasingly harmful. The methodology we followed is qualitative, we analyzed the data according to a process-based approach in two longitudinal period from 2001 to 2009 and a period of real time from 2010 to 2014.Through a process-based longitudinal study we analyzed the effects of tourism on the three components of sustainability: economic, environmental and socio-cultural in Essaouira destination in the south west of Morocco. The objective of this paper is to identify among others, harmful effects of mass tourism on fragile destination in terms of load capacity, promotion of youth employment and respect for indigenous traditions. This study also aims to analyze the impact of tourism on the fragile destination, which depends heavily on this activity; it also seeks to test a series of indicators for sustainable development of sensitive areas. Within results, we found that tourism as an activity is very linked to the international situation, tested sustainable development indicators showed us that tourism is environmentally destructive, job creator and changer modes and lives of indigenous. Between the two periods analyzed, the situation becomes more and more vulnerable and the state intervention is becoming more indispensable. We also found that 70% of the population of the destination does not benefit from the income generated by the destination. This raises questions about the fate of the added value of this activity.

Keywords: economic, environmental and socio-cultural, fragile destination, tourism sustainability

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977 Place, Female and Latino Identities in Kali Fajardo-Anstine’s Short Story Collection Sabrina and Corina

Authors: Jaroslav Kusnir

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In her short story collection, Sabrina & Corina, Kali Fajardo-Anstine depicts mostly Latina characters of indigenous background living and travelling in the American West and the Southwest. In all the stories, place and the environment plays an important role in the construction of cultural identity of these characters that is influenced by their indigenous background, a specificity of the American West, its culture and environment, as well as a contemporary (modern) American culture, position of women and gender roles in a Latino community in the USA. This paper will analyze Fajardo-Anstine´s depiction of a specificity of place, especially of the American West and its role in a construction of Latino/a cultural identity in a modern American society as manifested especially in Fajardo-Anstine´s stories Any Further West and Sabrina & Corina. At the same time, the paper will point out Fajardo-Anstine´s construction of cultural identity of female characters and their gender roles in both Latino and a contemporary American societies. The research results show that the formation of Latina cultural identity is closely connected with both place, that is the American West and the Soutwest as well as with Latina and contemporary American cultures.

Keywords: American culture, american west, cultural identity, female identity, latina identity, place

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976 Being Reticent for Healing – Singularity and Non-Verbalization in Indigenous Medical Practices in Sri Lanka

Authors: Ayami Umemura

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The purpose of this paper is to examine the meaning of verbalization in clinical practice using the keywords silence and singularity. A patient's experience of illness and treatment is singular, irreplaceable, and irreproducible and ultimately cannot be compared with that of others. In his book Difference and Repetition, Gilles Deleuze positioned irreplaceable singularity as the opposite concept of particularity as a generalizable and substitutable property and matched the former with universality. He also said that singularity could not be represented because of its irreplaceable nature. Representation or verbalization is a procedure that converts an irreplaceable, idiosyncratic reality into something that can be substituted. Considering the act of verbalizing medical diagnosis based on this, it can be said that diagnosis is the practice of decontextualizing and generalizing the suffering embedded in the patient's irreplaceable life history as a disease. This paper examines the above with the key concept of the practice of "non-verbalization" in traditional medical practices in Sri Lanka. In the practice of Sri Lankan traditional medicine and the inheritance of medical knowledge and care techniques, there is a tendency to avoid verbalizing specific matters or stating them aloud. Specifically, the following should be avoided. The healer informs the patient of the name of the disease, mentions the name of the herb used in front of the patient, explains the patient's condition to the healer, and referring the names of poisonous animals, such as poisonous snakes that have been damaged. And so on. Furthermore, when passing on medical knowledge and skills, it is also possible to avoid verbalizing knowledge of medicinal herbs and medical treatment methods and explaining them verbally. In addition to the local belief that the soul of language in Sri Lanka is deeply involved in this background, Sri Lankan traditional medicine has a unique view of the human body and personality that is rooted in the singularity that appears in the relationship with the movement of celestial bodies and the supernatural realm. It can be pointed out that it is premised on the view. In other words, the “silence” in Sri Lankan indigenous medicine is the reason for emphasizing specificity. Furthermore, we can say that "non-verbalization" is a practice aimed at healing. Based on these discussions, this paper will focus on the unique relationships between practitioners and patients that become invisible due to verbalization, which is overlooked by clinical medicine, where informed consent, ensuring transparency, and audit culture is dominant. We will examine the experience of treatment and aim to relativize clinical medicine, which is based on audit cultures.

Keywords: audit cultures, indigenous medicine, singularity, verbalization

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975 In Patribus Fidelium Leftist Discourses on Political Violence in Lebanon and Algeria: A Critical Discourse Analysis

Authors: Mehdi Heydari Sanglaji

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The dramatic events of the 11 September, and their tragic repercussions, catapulted issues of the political violence in and from the ‘Muslim world’ onto the political discourse, be it in patriotic speeches of campaigning politicians or the TV and news punditry. Depending on what end of the political spectrum the politician/pundit pledges fealty to, the overall analyses of political violence in the West Asia and North Africa (WANA) tends towards two overarching categories: on the Right, the diagnosis has unanimously been, ‘they must hate our freedom.’ On the Left, however, there is the contention that the West has to be counted as the primary cause of such rage, for the years of plundering of lives and resources, through colonialism, the Cold War, coups, etc. All these analyses are premised on at least two presuppositions: the violence in and from the WANA region a) is always reactionary, in the sense that it happens only in response to something the West is or does; and b) must always already be condemned, as it is essentially immoral and wrong. It is the aim of this paper to challenge such viewpoints. Through a rigorous study of the historical discourses on political violence in the Leftist organizations active in Algeria and Lebanon, we claim there is a myriad of diverse reasons and justifications presented for advocating political violence in these countries that defy facile categorization. Inspecting such rhetoric for inciting political violence in Leftist discourses, and how some of these reasonings have percolated into other movements in the region (e.g., Islamist ones), will reveal a wealth of indigenous discourses on the subject that has been largely neglected by the Western Media punditry and even by the academia. The indigenous discourses on political violence, much of which overlaps with emancipatory projects in the region, partly follow grammar and logic, which may be different from those developed in the West, even by its more critical theories. Understanding so different epistemology of violence, and the diverse contexts in which political violence might be justifiable in the mind of ‘the other,’ necessitates a historical, materialist, and genealogical study of the discourse already in practice in the WANA region. In that regard, both critical terrorism studies and critical discourse analysis provide exemplary tools of analysis. Capitalizing on such tools, this project will focus on unearthing a history of thought that renders moot the reduction of all instances of violence in the region to an Islamic culture or imperialism/colonialism. The main argument in our research is that by studying the indigenous discourses on political violence, we will be far more equipped in understanding the reasons and the possible solutions for acts of terrorism in and from the region.

Keywords: political violence, terrorism, leftist organizations, West Asia/North Africa

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974 Determinants of Successful Accounting Information System Outsourcing for the Egyptian Small and Medium Enterprises: An Empirical Study

Authors: Maram Elkady

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Purpose: The purpose behind this study is to determine the impact of some factors on achieving successful accounting information systems (AIS) outsourcing in Egypt, taking into account two factors: the selection of an effective accounting service provider and the quality relationships between the client firm and the accounting service provider. The researcher measured outsourcing success through the perceived benefits, including (strategic, technological, and economic benefits). Design/Methodology/Approach: A survey was carried out by means of questionnaires answered by 152 small and medium Egyptian firms outsourcing their accounting activities. The researcher targeted the personnel in the client firms who were in direct contact with the accounting outsourcer. The hypotheses were tested through multiple regression analysis using SPSS 24 and AMOS 22. Findings: Building a quality relationship with the provider is found to have more impact than the effective selection of the AIS provider on the success of the AIS outsourcing process. Originality/Value: The researcher found that some proxies of each success determinant can be more influential than others based on type of benefits perceived from AIS outsourcing (strategic, technological, and economic).

Keywords: accounting information system, AIS, outsourcing, successful outsourcing, AIS service provider selection, relationship with the accounting service provider

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973 The Abundance and Distribution of Locally Important Species Along Different Altitude: The Case of Mountain Damota, Wolaita South Ethiopia

Authors: Tamirat Solomon, Tadesse Faltamo, Belete Limani

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This study was conducted on the mountain Damota of Wolaita to assess the abundance and spatial distribution of two locally important indigenous medicinal plants on the mountain landscape. A total of 130 plots measuring 20x20m were established along eight systematically laid transect lines. In each plot, the abundance and distribution of Hagenia abyssinica (tree) and Pentas schiperiana Vatke (shrub) were evaluated. The abundance and distribution of H. abyssinica were evaluated by measuring height and DBH for mature trees and counting seedlings and saplings, whereas the P. schiperiana Vatke was assessed for its abundance and distribution by counting in each plot. In the entire study plots, a total of 485 H. abyssinica and 760 P. schiperiana vatake were recorded. It was observed that the distribution of the species increased while the altitude increased and the highest abundance of the species was recorded at an altitude range between 2332 and 2661m.a.s.l. However, at the altitudes below 2320 m.a.s.l., the species distributions and abundance was decreased, indicating either the ecological preference of the species or the extraction of the local community surrounding the mountain influenced the species. On average, only 28 seedlings/ha of H. abyssinica and 146/ha of P. schiperiana vatke were recorded in the study areas showing the tendency of decline in the abundance and distribution of both species. Finally, we recommend management intervention for the socially important species which are under threat on the mountain landscape.

Keywords: indigenous medicinal plants, H.abyssinic, P. schiperiana, distribution, abundance, socio-economic importance

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972 Adopting Data Science and Citizen Science to Explore the Development of African Indigenous Agricultural Knowledge Platform

Authors: Steven Sam, Ximena Schmidt, Hugh Dickinson, Jens Jensen

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The goal of this study is to explore the potential of data science and citizen science approaches to develop an interactive, digital, open infrastructure that pulls together African indigenous agriculture and food systems data from multiple sources, making it accessible and reusable for policy, research and practice in modern food production efforts. The World Bank has recognised that African Indigenous Knowledge (AIK) is innovative and unique among local and subsistent smallholder farmers, and it is central to sustainable food production and enhancing biodiversity and natural resources in many poor, rural societies. AIK refers to tacit knowledge held in different languages, cultures and skills passed down from generation to generation by word of mouth. AIK is a key driver of food production, preservation, and consumption for more than 80% of citizens in Africa, and can therefore assist modern efforts of reducing food insecurity and hunger. However, the documentation and dissemination of AIK remain a big challenge confronting librarians and other information professionals in Africa, and there is a risk of losing AIK owing to urban migration, modernisation, land grabbing, and the emergence of relatively small-scale commercial farming businesses. There is also a clear disconnect between the AIK and scientific knowledge and modern efforts for sustainable food production. The study combines data science and citizen science approaches through active community participation to generate and share AIK for facilitating learning and promoting knowledge that is relevant for policy intervention and sustainable food production through a curated digital platform based on FAIR principles. The study adopts key informant interviews along with participatory photo and video elicitation approach, where farmers are given digital devices (mobile phones) to record and document their every practice involving agriculture, food production, processing, and consumption by traditional means. Data collected are analysed using the UK Science and Technology Facilities Council’s proven methodology of citizen science (Zooniverse) and data science. Outcomes are presented in participatory stakeholder workshops, where the researchers outline plans for creating the platform and developing the knowledge sharing standard framework and copyrights agreement. Overall, the study shows that learning from AIK, by investigating what local communities know and have, can improve understanding of food production and consumption, in particular in times of stress or shocks affecting the food systems and communities. Thus, the platform can be useful for local populations, research, and policy-makers, and it could lead to transformative innovation in the food system, creating a fundamental shift in the way the North supports sustainable, modern food production efforts in Africa.

Keywords: Africa indigenous agriculture knowledge, citizen science, data science, sustainable food production, traditional food system

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971 Green Supply Chain Management: A Revolutionary and Robust Innovation in the Field of Efficient Environmental Development and Regulation

Authors: Jinesh Kumar Jain, Faishal Pathan

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The concept of sustainable development and effective environmental regulation has led to the emergence of a new field of study and practise that is the Green Supply Chain Management. GSCM has become a subject of great importance for both the developed and developing countries to achieve the desired and much-awaited goals of the firm within the environmental and sustainable framework. Its merits are comprised of good financial pay off and competitiveness to the firms in a long lasting and sustainable manner. The purpose of the paper is to briefly review the recent literature of the GSCM and also determines the new direction area of this emerging field. A detailed study has helped to enlighten the minute details and develop the research direction of the study. The GSCM has gained popularity with both academic and practitioners. The items for the study were developed based on the extent literature. Here we found that the state of adoption of GSCM practices by Indian Firms was still in its infancy, the awareness of environmental sustainability was quite low among consumers and the regulatory frameworks were also lacking in terms promoting environmental sustainability. The present paper is an attempt to emphasize much attention on the above-mentioned issues and present a conclusive summary to make its use widespread and for reaching.

Keywords: environmental management, environmental performance, financial performance, green supply chain management

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970 Experimental Investigation to Produce an Optimum Mix Ratio of Micro-Concrete

Authors: Shofiq Ahmed, Rakibul Hassan, Raquib Ahsan

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Concrete is one of the basic elements of RCC structure and also the most crucial one. In recent years, a lot of researches have been conducted to develop special types of concrete for special purposes. Micro-concrete is one of them which has high compressive strength and is mainly used for retrofitting. Micro-concrete is a cementitious based composition formulated for use in repairs of areas where the concrete is damaged & the area is confined in movement making the placement of conventional concrete difficult. According to recent statistics, a large number of structures in the major cities of Bangladesh are vulnerable to collapse. Retrofitting may thus be required for a sustainable solution, and for this purpose, the utilization of micro-concrete can be considered as the most effective solution. For that reason, the aim of this study was to produce micro-concrete using indigenous materials in low cost. Following this aim, the experimental data were observed for five mix ratios with varied amount of cement, fine aggregate, coarse aggregate, water, and admixture. The investigation criteria were a compressive strength, tensile strength, slump and the cost of different mix ratios. Finally, for a mix ratio of 1:1:1.5, the compressive strength was achieved as 7820 psi indicating highest strength among all the samples with the reasonable tensile strength of 1215 psi. The slump of 6.9 inches was also found for this specimen indicating it’s high flowability and making it’s convenient to use as micro-concrete. Moreover, comparing with the cost of foreign products of micro-concrete, it was observed that foreign products were almost four to five times costlier than this local product.

Keywords: indigenous, micro-concrete, retrofitting, vulnerable

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969 Reconceptualizing Bioeconomy: From the Hegemonic Vision to Diverse Economies and Economies-others for Life – Advocating for a Resilient and Just Future in Colombia

Authors: Alexander Rincón Ruiz

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This article is based on an exhaustive review and interdisciplinary effort spanning three years. It involved interviews, dialogues, discussion panels, and collective work on various visions of bio-economy in Colombia. The dialogue included government institutions, universities, local communities, activist groups, research institutes, the productive sector, and politicians, integrating perspectives such as Latin American environmental thought, complexity theory, modern visions, local worldviews (Afro-Colombian, indigenous, peasant), decoloniality, political ecology, ecological economics, and environmental economies. This work highlighted the need to redefine the traditional bio-economy concept, typically focused on markets and biotechnology, and to revisit the original idea of a bio-economy as an ‘economy for life’. In a country as diverse as Colombia—both biophysically and in its varied relationships with the territory—this redefinition is crucial. It emphasizes alternative logics of well-being related to resilience, care, and cooperation, reflecting Indigenous, Afro-Colombian, and peasant worldviews. This article is significant for proposing, for the first time, a viable approach to diverse and alternative economies for life tailored to the Colombian context. It represents not only academic work but also a political commitment to inclusion and plurality, aligning with the Colombian context and potentially extendable to other regions.

Keywords: ecological economics, decoloniality, complexity, Biodiversity

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968 Linkages between Innovation Policies and SMEs' Innovation Activities: Empirical Evidence from 15 Transition Countries

Authors: Anita Richter

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Innovation is one of the key foundations of competitive advantage, generating growth and welfare worldwide. Consequently, all firms should innovate to bring new ideas to the market. Innovation is a vital growth driver, particularly for transition countries to move towards knowledge-based, high-income economies. However, numerous barriers, such as financial, regulatory or infrastructural constraints prevent, in particular, new and small firms in transition countries from innovating. Thus SMEs’ innovation output may benefit substantially from government support. This research paper aims to assess the effect of government interventions on innovation activities in SMEs in emerging countries. Until now academic research related to the innovation policies focused either on single country and/or high-income countries assessments and less on cross-country and/or low and middle-income countries. Therefore the paper seeks to close the research gap by providing empirical evidence from 8,500 firms in 15 transition countries (Eastern Europe, South Caucasus, South East Europe, Middle East and North Africa). Using firm-level data from the Business Environment and Enterprise Performance Survey of the World Bank and EBRD and policy data from the SME Policy Index of the OECD, the paper investigates how government interventions affect SME’s likelihood of investing in any technological and non-technological innovation. Using the Standard Linear Regression, the impact of government interventions on SMEs’ innovation output and R&D activities is measured. The empirical analysis suggests that a firm’s decision to invest into innovative activities is sensitive to government interventions. A firm’s likelihood to invest into innovative activities increases by 3% to 8%, if the innovation eco-system noticeably improves (measured by an increase of 1 level in the SME Policy Index). At the same time, a better eco-system encourages SMEs to invest more in R&D. Government reforms in establishing a dedicated policy framework (IP legislation), institutional infrastructure (science and technology parks, incubators) and financial support (public R&D grants, innovation vouchers) are particularly relevant to stimulate innovation performance in SMEs. Particular segments of the SME population, namely micro and manufacturing firms, are more likely to benefit from an increased innovation framework conditions. The marginal effects are particularly strong on product innovation, process innovation, and marketing innovation, but less on management innovation. In conclusion, government interventions supporting innovation will likely lead to higher innovation performance of SMEs. They increase productivity at both firm and country level, which is a vital step in transitioning towards knowledge-based market economies.

Keywords: innovation, research and development, government interventions, economic development, small and medium-sized enterprises, transition countries

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967 Managing Inter-Organizational Innovation Project: Systematic Review of Literature

Authors: Lamin B Ceesay, Cecilia Rossignoli

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Inter-organizational collaboration is a growing phenomenon in both research and practice. The partnership between organizations enables firms to leverage external resources, experiences, and technology that lie with other firms. This collaborative practice is a source of improved business model performance, technological advancement, and increased competitive advantage for firms. However, the competitive intents, and even diverse institutional logics of firms, make inter-firm innovation-based partnership even more complex, and its governance more challenging. The purpose of this paper is to present a systematic review of research linking the inter-organizational relationship of firms with their innovation practice and specify the different project management issues and gaps addressed in previous research. To do this, we employed a systematic review of the literature on inter-organizational innovation using two complementary scholarly databases - ScienceDirect and Web of Science (WoS). Article scoping relies on the combination of keywords based on similar terms used in the literature:(1) inter-organizational relationship, (2) business network, (3) inter-firm project, and (4) innovation network. These searches were conducted in the title, abstract, and keywords of conceptual and empirical research papers done in English. Our search covers between 2010 to 2019. We applied several exclusion criteria including Papers published outside the years under the review, papers in a language other than English, papers neither listed in WoS nor ScienceDirect and papers that are not sharply related to the inter-organizational innovation-based partnership were removed. After all relevant search criteria were applied, a final list of 84 papers constitutes the data for this review. Our review revealed an increasing evolution of inter-organizational relationship research during the period under the review. The descriptive analysis of papers according to Journal outlets finds that International Journal of Project Management (IJPM), Journal of Industrial Marketing, Journal of Business Research (JBR), etc. are the leading journal outlets for research in the inter-organizational innovation project. The review also finds that Qualitative methods and quantitative approaches respectively are the leading research methods adopted by scholars in the field. However, literature review and conceptual papers constitute the least in the field. During the content analysis of the selected papers, we read the content of each paper and found that the selected papers try to address one of the three phenomena in inter-organizational innovation research: (1) project antecedents; (2) project management and (3) project performance outcomes. We found that these categories are not mutually exclusive, but rather interdependent. This categorization also helped us to organize the fragmented literature in the field. While a significant percentage of the literature discussed project management issues, we found fewer extant literature on project antecedents and performance. As a result of this, we organized the future research agenda addressed in several papers by linking them with the under-researched themes in the field, thus providing great potential to advance future research agenda especially, in the under-researched themes in the field. Finally, our paper reveals that research on inter-organizational innovation project is generally fragmented which hinders a better understanding of the field. Thus, this paper contributes to the understanding of the field by organizing and discussing the extant literature to advance the theory and application of inter-organizational relationship.

Keywords: inter-organizational relationship, inter-firm collaboration, innovation projects, project management, systematic review

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966 The Role of Robotization in Reshoring: An Overview of the Implications on International Trade

Authors: Thinh Huu Nguyen, Shahab Sharfaei, Jindřich Soukup

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In the pursuit of reducing production costs, offshoring has been a major trend throughout global value chains for many decades. However, with the rise of advanced technologies, new opportunities to automate their production are changing the motivation of multinational firms to go offshore. Instead, many firms are working to relocate their offshored activities from developing economies back to their home countries. This phenomenon, known as reshoring, has recently garnered much attention as it becomes clear that automation in advanced countries might have major implications not only on their own economies but also through international trade on the economy of low-income countries, including their labor market outcomes and their comparative advantages. Thus, while using robots to substitute human labor may lower the relative costs of producing at home, it has the potential to decrease employment and demand for exports from developing economies through reshoring. In this paper, we investigate the recent literature to provide a further understanding of the relationships between robotization and the reshoring of production. Moreover, we analyze the impact of robot adoption on international trade in both developed and emerging markets. Finally, we identify the research gaps and provide avenues for future research in international economics. This study is a part of the project funded by the Internal Grant Agency (IGA) of the Faculty of Business Administration, Prague University of Economics and Business.

Keywords: automation, robotization, reshoring, international trade

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965 The Impact of Corruption on Exports and Innovation in Small and Medium-Sized Enterprises: The Case of Tunisia

Authors: Moujib Bahri, Rahim Kallel, Ouafa Sakka

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Corruption is a phenomenon that increases uncertainty and risk of SMEs as it undermines the quality of the business environment and the easy access to public services. Our research builds on existing research on corruption's effects on economic growth at the firm level. Several papers have analyzed the effect of firms’ payments of bribes on their performance; however, only limited research has investigated the link between corruption, innovation, and exports. Drawing on principal-agent theory, we explore how corruption weakens the institutional context and makes the business environment unsound and not conducive to innovation and exports. This study employs data from The Enterprise Surveys conducted in Tunisia between March 2013 and July 2014 by the World Bank, the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB). The main objective of this survey was to gain a better understanding of Tunisian firms’ perception of the environment in which they operate. Since 2011, the country's political situation has become fragile and unstable, and public services are perceived as inefficient and corrupt. We test our hypotheses on a sample of 537 Tunisian manufacturing SMEs using structural equation modeling and path analysis. We find that political instability leads to higher level of corruption, and that excessive business licensing regulations create a fertile ground for bribery. Our findings do not support the greasing hypothesis suggesting that corruption can reduce the negative effect of bureaucratic delays and the hard access of companies to public services related to innovation and exports. Instead, our results support the sanding hypothesis according to which corruption hinders innovation activities and exports. Furthermore, corruption is found to, negatively and significantly, impact firms’ ownership of quality certificates. Our results suggest that, in an environment with a high level of corruption, governments and policymakers interested in assisting SMEs with their innovation and export activities should have a better control on corruption to allow them developing those activities without being forced to bribe government officers.

Keywords: corruption, innovation, exports, SMEs

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964 Impact of Homestay Tourism on the Traditional Lifestyle and Culture of the Indigenous Tharu People: A Case Study of Nepal

Authors: Durga Prasad Neupane

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This study investigates the impacts of homestay tourism on the traditional lifestyle and culture of the indigenous Tharu people in Nepal. It explores how this form of tourism has influenced the lives of Tharu individuals and their community as a whole. The study delves into the effects of tourism on various aspects, including language, socio-economic development, and cultural promotion and revival. Employing a qualitative approach and a case study design, the study gathers in-depth and comprehensive data on the impacts of homestay tourism on the Amaltari Tharu community. Building rapport with respondents, including homestay management committees, Tharu homestay owners, and non-Tharu residents, is achieved through various channels like personal interactions, phone conversations, and repeated visits. The research further combines document analysis with in-depth interviews to glean diverse perspectives and insights. The study's findings reveal that while homestay tourism presents challenges, it also holds significant potential for promoting and revitalizing the Tharu culture. Tourism has not only fostered the flourishing of Tharu traditions but has also contributed to improved educational opportunities within the community. However, the study recognizes the influence of globalization in driving changes to Tharu customs and rituals, potentially leading to a new form of cultural colonization. In this context, homestay tourism emerges as a crucial tool for preserving and revitalizing the unique ethnic identity and traditions of the Amaltari Tharu community.

Keywords: homestay, tourism, Tharu culture, cultural revival, linguistic variations

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963 Population Structure Analysis of Pakistani Indigenous Cattle Population by Using High Density SNP Array

Authors: Hamid Mustafa, Huson J. Heather, Kim Eiusoo, McClure Matt, Khalid Javed, Talat Nasser Pasha, Afzal Ali1, Adeela Ajmal, Tad Sonstegard

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Genetic differences associated with speciation, breed formation or local adaptation can help to preserve and effective utilization of animals in selection programs. Analyses of population structure and breed diversity have provided insight into the origin and evolution of cattle. In this study, we used a high-density panel of SNP markers to examine population structure and diversity among ten Pakistani indigenous cattle breeds. In total, 25 individuals from three cattle populations, including Achi (n=08), Bhagnari (n=04) and Cholistani (n=13) were genotyped for 777, 962 single nucleotide polymorphism (SNP) markers. Population structure was examined using the linkage model in the program STRUCTURE. After characterizing SNP polymorphism in the different populations, we performed a detailed analysis of genetic structure at both the individual and population levels. The whole-genome SNP panel identified several levels of population substructure in the set of examined cattle breeds. We further searched for spatial patterns of genetic diversity among these breeds under the recently developed spatial principal component analysis framework. Overall, such high throughput genotyping data confirmed a clear partitioning of the cattle genetic diversity into distinct breeds. The resulting complex historical origins associated with both natural and artificial selection have led to the differentiation of numerous different cattle breeds displaying a broad phenotypic variety over a short period of time.

Keywords: Pakistan, cattle, genetic diversity, population structure

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962 Agricultural Knowledge Management System Design, Use, and Consequence for Knowledge Sharing and Integration

Authors: Dejen Alemu, Murray E. Jennex, Temtim Assefa

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This paper is investigated to understand the design, the use, and the consequence of Knowledge Management System (KMS) for knowledge systems sharing and integration. A KMS for knowledge systems sharing and integration is designed to meet the challenges raised by knowledge management researchers and practitioners: the technical, the human, and social factors. Agricultural KMS involves various members coming from different Communities of Practice (CoPs) who possess their own knowledge of multiple practices which need to be combined in the system development. However, the current development of the technology ignored the indigenous knowledge of the local communities, which is the key success factor for agriculture. This research employed the multi-methodological approach to KMS research in action research perspective which consists of four strategies: theory building, experimentation, observation, and system development. Using the KMS development practice of Ethiopian agricultural transformation agency as a case study, this research employed an interpretive analysis using primary qualitative data acquired through in-depth semi-structured interviews and participant observations. The Orlikowski's structuration model of technology has been used to understand the design, the use, and the consequence of the KMS. As a result, the research identified three basic components for the architecture of the shared KMS, namely, the people, the resources, and the implementation subsystems. The KMS were developed using web 2.0 tools to promote knowledge sharing and integration among diverse groups of users in a distributed environment. The use of a shared KMS allows users to access diverse knowledge from a number of users in different groups of participants, enhances the exchange of different forms of knowledge and experience, and creates high interaction and collaboration among participants. The consequences of a shared KMS on the social system includes, the elimination of hierarchical structure, enhance participation, collaboration, and negotiation among users from different CoPs having common interest, knowledge and skill development, integration of diverse knowledge resources, and the requirement of policy and guideline. The research contributes methodologically for the application of system development action research for understanding a conceptual framework for KMS development and use. The research have also theoretical contribution in extending structuration model of technology for the incorporation of variety of knowledge and practical implications to provide management understanding in developing strategies for the potential of web 2.0 tools for sharing and integration of indigenous knowledge.

Keywords: communities of practice, indigenous knowledge, participation, structuration model of technology, Web 2.0 tools

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961 An Exploratory Study on Business Leadership, Workplace Assessment, and Change Management in the Middle East and North Africa

Authors: C. Akhras

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Change is the life blood of business. Dynamic factors inspire change yet may act as barriers, influencing the company’s position in the market and challenging its organizational mission and culture. Today, the business context has globalized with business enterprises in the North and South joint in mergers and the East forges a strategic alliance with the West. Moreover, given that very little remains stable in certain industries, national business goals in the millennial marketplaces might be rapid, accelerated, and differentiated growth while distinctive competitive advantage might mark new qualitative excellence in others. In a new age culture marked by change, organizations, leaders, and followers are impacted; indigenous business leaders seem to have a very important role to play in change management. This case study was carried out on 178 business employees employed in local industry to evaluate perceptions of indigenous business leadership, workplace assessment, and organizational change management in the Middle East and North Africa. Three research questions were posed: (1) In your work context, do you think business leaders are essentially changing agents? (2) In your work context, is workplace change more effective in business leaders perceived as a hierarchical change agent rather than those perceived as an empowering change agent? (3) In your work context, is workplace change more efficient in business leaders perceived as a hierarchical change agent rather than those perceived as an empowering change agent? The results of the study and its limitations imposed by time and space indicate that more comprehensive research is required in this area.

Keywords: catalyst, change management, business enterprise, workplace assessment

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960 The Conditionality of Financial Risk: A Comparative Analysis of High-Tech and Utility Companies Listed on the Shenzhen Stock Exchange (SSE)

Authors: Joseph Paul Chunga

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The investment universe is awash with a myriad of financial choices that investors have to opt for, which principally culminates into a duality between aggressive or conservative approaches. Howbeit, it is pertinent to emphasize that the investment vehicles with an aggressive approach tend to take on more risk than the latter group in an effort to generate higher future returns for their respective investors. This study examines the conditionality effect that such partiality in financing has on the High-Tech and Public Utility companies listed on the Shenzhen Stock Exchange (SSE). Specifically, it examines the significance of the relationship between capitalization ratios of Total Debt Ratio (TDR), Degree of Financial Leverage (DFL) and profitability ratios of Earnings per Share (EPS) and Returns on Equity (ROE) on the Financial Risk of the two industries. We employ a modified version of the Panel Regression Model used by Rahman (2017) to estimate the relationship. The study finds that there is a significant positive relationship between the capitalization ratios on the financial risk of Public Utility companies more than High-Tech companies and a substantial negative relationship between the profitability ratios and the financial risk of the former than the latter companies. This then spells an important insight for prospective investors with regards to the volatility of earnings of such companies.

Keywords: financial leverage, debt financing, conservative firms, aggressive firms

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959 State Forest Management Practices by Indigenous Peoples in Dharmasraya District, West Sumatra Province, Indonesia

Authors: Abdul Mutolib, Yonariza Mahdi, Hanung Ismono

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The existence of forests is essential to human lives on earth, but its existence is threatened by forest deforestations and degradations. Forest deforestations and degradations in Indonesia is not only caused by the illegal activity by the company or the like, even today many cases in Indonesia forest damage caused by human activities, one of which cut down forests for agriculture and plantations. In West Sumatra, community forest management are the result supported the enactment of customary land tenure, including ownership of land within the forest. Indigenous forest management have a positive benefit, which gives the community an opportunity to get livelihood and income, but if forest management practices by indigenous peoples is not done wisely, then there is the destruction of forests and cause adverse effects on the environment. Based on intensive field works in Dhamasraya District employing some data collection techniques such as key informant interviews, household surveys, secondary data analysis, and satellite image interpretation. This paper answers the following questions; how the impact of forest management by local communities on forest conditions (foccus in Forest Production and Limited Production Forest) and knowledge of the local community on the benefits of forests. The site is a Nagari Bonjol, Dharmasraya District, because most of the forest in Dharmasraya located and owned by Nagari Bonjol community. The result shows that there is damage to forests in Dharmasraya because of forest management activities by local communities. Damage to the forest area of 33,500 ha in Dharmasraya because forests are converted into oil palm and rubber plantations with monocultures. As a result of the destruction of forests, water resources are also diminishing, and the community has experienced a drought in the dry season due to forest cut down and replaced by oil palm plantations. Knowledge of the local community on the benefits of low forest, the people considered that the forest does not have better benefits and cut down and converted into oil palm or rubber plantations. Local people do not understand the benefits of ecological and environmental services that forests. From the phenomena in Dharmasraya on land ownership, need to educate the local community about the importance of protecting the forest, and need a strategy to integrate forests management to keep the ecological functions that resemble the woods and counts the economic benefits for the welfare of local communities. One alternative that can be taken is to use forest management models agroforestry smallholders in accordance with the characteristics of the local community who still consider the economic, social and environmental.

Keywords: community, customary land, farmer plantations, and forests

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958 The Effect of Book-Tax Conformity on Audit Quality: Evidence from Canada

Authors: Yosra Makni Fourati, Sana Masmoudi Mardassi

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This paper investigates the effect of Book-tax conformity on audit quality regarding the proxies of audit fees, auditors’ industry specialization and audit report lag. Using a sample of Canadian firms listed on the Toronto Stock Exchange spanning the years 2006- 2016, we applied an Ordinary Least Squares (OLS) regression to test hypotheses of this research. The authors find that higher Book-tax conformity leads to lower audit fees. They also provide evidence that there is a negative association between Book-tax conformity and auditors’ industry specialization, whereas there is a positive association between Book-tax conformity and audit report lag. Overall, the findings are prominent to better understanding the effect of Book-tax conformity on audit quality and are relevant for academic researchers, practitioners, and regulators. As the paper investigates the relationship of Book-tax conformity and audit quality using a sample of Canadian firms, it brings original insights regarding the importance of audit fees and Book-tax conformity. In addition, it considers the role of auditor’s industry specialization in the relation between audit quality and Book-tax conformity by considering a sample listed on the Toronto Stock Exchange. This paper contributes to the existing literature by highlighting the Canadian setting, to our best knowledge. In addition, our results are prominent to the auditing literature as they introduce a different determinant of auditors’ industry specialization and audit report lag.

Keywords: audit fees, auditors' industry specialization, audit report lag, book-tax conformity

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957 Eco-Innovation: Perspectives from a Theoretical Approach and Policy Analysis

Authors: Natasha Hazarika, Xiaoling Zhang

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Eco- innovations, unlike regular innovations, are not self-enforcing and are associated with the double externality problem. Therefore, it is emphasized that eco-innovations need government. intervention in the form of supportive policies on priority. Off late, factors like consumer demand, technological advancement as well as the competitiveness of the firms have been considered as equally important. However, the interaction among these driving forces has not been fully traced out. Also, the theory on eco-innovation is found to be at a nascent stage which does not resonate with its dynamics as it is traditionally studied under the neo- classical economics theory. Therefore, to begin with, insights for this research have been derived from the merits of ‘neo- classical economics’, ‘evolutionary approach’, and the ‘resource based view’ which revealed the issues pertaining to technological system lock- ins and firm- based capacities which usually remained undefined by the neo classical approach; it would be followed by determining how the policies (in the national level) and their instruments are designed in order to motivate firms to eco-innovate, by analyzing the innovation ‘friendliness’ of the policy style and the policy instruments as per the indicators provided in innovation literature by means of document review (content analysis) of the relevant policies introduced by the Chinese government. The significance of theoretical analysis lies in its ability to show why certain practices become dominant irrespective of gains or losses, and that of the policy analysis lies in its ability to demonstrate the credibility of govt.’s sticks, carrots and sermons for eco-innovation.

Keywords: firm competency, eco-innovation, policy, theory

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956 A research of Dhuta Characteristic Poems Associated with Traditional Serpent Medicine (From Galkalla and Ratmalavetia Vedaparampara)

Authors: M. S. M. Anjalee Umesha Bandara

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Hela Veda Shastra is a science that is an endowment from generation to generation. There is also an individualistic science and indigenous practice of traditional herbs. There are many effective cures for snakes, fractures, head cancer, cuts, lunatics, reflexology, etc. Hela physicians who rescued them from infections caused by snakes have recognized poems to remember the medicines they used to cure the patients. Due to the harmony of the Hela Osu and Hela Knowledge poetry collection, it has become easy for the juniors of the Hela Veda generation to gain medical knowledge. It is a research problem whether it is possible to arrive at a correct conclusion about the patient form of the snake information thread through the existing Dhuta characteristics of Hela Serpa Vedakam. This research was done with the assumption that snake venom can be successfully treated according to its characteristics. In this research, two generations related to the Ratmalavatiya Vedaparamparava and the Vannihatpattu of the Kalla Veda generation have been identified as Veda Paramparas who treat and created Dutha Kavya, including the form of the Serpent Dasthana. They have collected ancient books, documents and interviews related to qualitative research on snake disease treatment. In addition, collecting data by referring to books related to Hela medicine. The ancient indigenous lineage methods that are superior to modern Western science's snake therapy should save the Hela's amazing wealth of wisdom for the future, leaving aside the selfishness of keeping the teaching to themselves.

Keywords: snake venom medicine, vedic genealogy, Dhuta characteristic, snake

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955 Into the Dreamweaver’s World of the Mandaya and the Tboli: From Folklore to the Woven Fabric

Authors: Genevieve Jorolan Quintero

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In Mindanao, the southern island of the Philippines, two provinces, Davao Oriental and Tboli of South Cotabato, respectively, are homes to indigenous communities known for their dream weavers. Davao Oriental is home to the Mandaya, while Lake Sebu is home to the Tboli. The dream weavers are mostly women who have continued the tradition of weaving, a spiritual practice of handicraft embodying the beliefs of the community. It is believed that a weaver is guided by the Tagamaling, or the nature spirit in Mandaya mythology, and Fu Dalu, or the spirit of the abaca among the Tboli. In the dream, the Tagamaling or Fu Dalu reveals to the weaver the design or the pattern of the dagmay as the abaca woven cloth is called among the Mandaya and the tnalak among the Tboli. The weaver then undertakes the production of this nature-spirit-inspired fabric based on her memory of the dream. This interaction between the spirit world and the human world inspired the theme of the short story with the title Loom of Dreams, published in 2015 by Kritika Kultura, an international peer-reviewed journal of language and literary/cultural studies of the Ateneo de Manila University in the Philippines. In Lake Sebu, a collection of the legendary tnalak with various designs is preserved by the cultural advocate and tnalak collector Reden S. Ulo. About a hundred tnalak designs are housed in a mini museum. The paper discusses how the dagmay and the tnalak of the two Philippine indigenous communities, the Mandaya and the Tboli, embody their folklore and cultural heritage. The specific objectives are: 1. To describe the role of the dreamweavers among the Mandaya and Tboli communities in the Philippines; 2. To analyse how folklore influences the designs on the woven fabric, the dagmay, and the tnalak, and 3. To discuss how dream-weaving helps preserve culture legacy. Ethnography was used in the conduct of this research. Specifically, the following data collection methods were done: 1. a series of visits to the Mandaya and Tboli communities; 2. face-to-face interviews with the respondents from the communities, and 3. the recording of the interviews with the knowledge-bearers and material culture keepers from both communities, the narratives of which were used as a basis for the data analysis. The influence of folklore in the culture and the arts of the indigenous communities is significantly evident in the designs of the dagmay and the tnalak. As the dream weavers continue to weave the dagmay and the tnalak, this cultural legacy will continue to prosper and be preserved for posterity.

Keywords: dreamweaver's, Mandaya, mindanao, Philippine folklore, Tboli

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954 Gender Quotas in Italy: Effects on Corporate Performance

Authors: G. Bruno, A. Ciavarella, N. Linciano

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The proportion of women in boardroom has traditionally been low around the world. Over the last decades, several jurisdictions opted for active intervention, which triggered a tangible progress in female representation. In Europe, many countries have implemented boardroom diversity policies in the form of legal quotas (Norway, Italy, France, Germany) or governance code amendments (United Kingdom, Finland). Policy actions rest, among other things, on the assumption that gender balanced boards result in improved corporate governance and performance. The investigation of the relationship between female boardroom representation and firm value is therefore key on policy grounds. The evidence gathered so far, however, has not produced conclusive results also because empirical studies on the impact of voluntary female board representation had to tackle with endogeneity, due to either differences in unobservable characteristics across firms that may affect their gender policies and governance choices, or potential reverse causality. In this paper, we study the relationship between the presence of female directors and corporate performance in Italy, where the Law 120/2011 envisaging mandatory quotas has introduced an exogenous shock in board composition which may enable to overcome reverse causality. Our sample comprises Italian firms listed on the Italian Stock Exchange and the members of their board of directors over the period 2008-2016. The study relies on two different databases, both drawn from CONSOB, referring respectively to directors and companies’ characteristics. On methodological grounds, information on directors is treated at the individual level, by matching each company with its directors every year. This allows identifying all time-invariant, possibly correlated, elements of latent heterogeneity that vary across firms and board members, such as the firm immaterial assets and the directors’ skills and commitment. Moreover, we estimate dynamic panel data specifications, so accommodating non-instantaneous adjustments of firm performance and gender diversity to institutional and economic changes. In all cases, robust inference is carried out taking into account the bidimensional clustering of observations over companies and over directors. The study shows the existence of a U-shaped impact of the percentage of women in the boardroom on profitability, as measured by Return On Equity (ROE) and Return On Assets. Female representation yields a positive impact when it exceeds a certain threshold, ranging between about 18% and 21% of the board members, depending on the specification. Given the average board size, i.e., around ten members over the time period considered, this would imply that a significant effect of gender diversity on corporate performance starts to emerge when at least two women hold a seat. This evidence supports the idea underpinning the critical mass theory, i.e., the hypothesis that women may influence.

Keywords: gender diversity, quotas, firms performance, corporate governance

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