Search results for: corporate ethics policy

Authors: Adelakun O. Johnson

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The quest to mitigate the probable adverse effects of geopolitical risk on FDI inflows tends to result in more frequent changes in economic policies and, as a result, heightened policy uncertainty. In this regard, we extend the literature on the dynamics of FDI inflows to include the hypothesis of the possibility of geopolitical risk escalating the adverse effects of economic policy uncertainty on FDI inflows. To test the robustness of this hypothesis, we use the cases of different economic groups characterized by different levels of economic development and varying degrees of FDI confidence. Employing an ARDL-based dynamic panel data model that accounts for both non-stationarity and heterogeneity effects, we show result that suggests GPR and EPU retard the inflows of FDI in both economies but mainly in the short-run situation. In the long run, however, higher EPU not attributed to GPR is likely to boost the inflows of FDI rather than retarding, at least in the case of the G7 economy.

Keywords: FDI inflows, geopolitical risk, economic policy uncertainty, panel ARDL model

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Authors: Lajmi Azhaar, Yab Mdallelah

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This study examines the Tunisian market in which recent events, notably financial scandals, provide an appropriate framework for studying the impact of corporate governance on the audit report lag. Moreover, very little research has been done to examine this relationship in this context. The objective of this work is, therefore, to understand the factors influencing audit report lag, drawing primarily on agency theory (Jensen and Meckling, 1976), which shows that the characteristics of the board of directors have an impact on the report lag (independence, diligence, and size). In addition, the characteristics of the committee also have an impact on the audit report lag (size, independence, diligence, and expertise). Therefore, our research provides empirical evidence on the impact of governance mechanisms attributes on audit report lag. Using a sample of forty-seven (47) Tunisian companies listed on the Tunis Stock Exchange (BVMT) during the period from 2014 to 2019, and basing on the GMM method of the dynamic panel, multivariate analysis shows that most corporate governance attributes have a significant effect on audit report lag. Specifically, the audit committee diligence and the audit committee expertise have a significant and positive effect on audit report lag. But the diligence of the board has a significant and negative effect on audit report lag. However, this study finds no evidence that the audit committee independence, the size, independence, and diligence of the director’s board are associated with the audit report lag. In addition, the results of this study also show that there is a significant effect of some control variables. Finally, we are contributing to this study by using the GMM method of the dynamic panel. We are also using an emerging context that is very poorly developed and exploited by previous studies.

Keywords: governance mechanisms, audit committee, board of directors, audit report lag

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Authors: Morena Paulisic, Marli Gonan Bozac

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Business organization and management in theory are typically presented as gender- neutral. Although in practice female contribution to corporation is not questionable, gender diversity in top management of corporation is and that especially in emerging countries like Croatia. This paper brings insights into obstacles and problems which should be overcome. Furthermore, gives an introspective view on the most important promotion and motivation factors of powerful female CEOs in Croatia. The goal was to clarify perception and performance of female CEOs that contributed to their success and to determine mutual characteristics of women in corporate entrepreneurship regarding the motivation. For our study we used survey instrument that was developed for this research. The research methods used were: table research, field research, generalization method, comparative method, and statistical method (descriptive statistics and Pearson’s Chi-square test). Some result showed us that today even more women in corporations are not likely to accept more engagement at work if it harms their families (2003 – 31.9% in 2013 – 33.8%) although their main motivating factor is still interested job (2003 – 95.8%; in 2013-100%). It is also significant that 78.8 % of Croatian top managers (2013) think that women managers in Croatia are insufficiently spoken and written about, and that the reasons for this are that: (1) the society underestimates their ability (37.9%); (2) women underestimate themselves (22.4%); (3) the society still mainly focuses on male managers (20.7%) and (4) women managers avoid interviews and appearing on front pages (19%). The environment still “blocks” the natural course of advancement of women managers in organisations (entrepreneurship in general) and the main obstacle is that women must always or almost always be more capable than men in order to succeed (96.6%). Based on survey results on longitudinal research conducted in 2003 (return rate 30,8%) and 2013 (return rate 29,2%) in Croatia we expand understanding of determination indicators of corporate female entrepreneurship. Theoretically in practice gender structure at the management level (executive management, management board and supervisory board) throw years (2011- 2014) have positive score but still women remain significantly underrepresented at those positions. Findings from different sources have shown that diversity at the top of corporations’ correlates with better performance. In this paper, we have contributed to research on gender in corporate entrepreneurship by offering experiences from successful female CEOs and explanation why in social responsible society women with their characteristics can support needed changes and construct different way forward for corporations. Based on research result we can conclude that in future underrepresentation of female in corporate entrepreneurship should be overcome.

Keywords: Croatia, female entrepreneurship, glass ceiling, motivation

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Authors: Aleksandra Szunke

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Monetary policy is an important pillar of the economy, directly affecting on the condition of banking sector. Depending on the strategy may both support functioning of banking institutions, as well as limit their excessively risky activities. The literature studies indicate a large number of publications, which include characteristics of initiatives, implemented by central banks during the global financial crisis and the potential effects of the use of non-standard monetary policy instruments. However, the empirical evidence about their effects and real consequences for the financial markets are still not final. Even before the escalation of instability, Bernanke, Reinhart, and Sack (2004) analyzed the effectiveness of various unconventional monetary tools in lowering long-term interest rates in the United States and Japan. The obtained results largely confirmed the effectiveness of the zero-interest-rate policy and Quantitative Easing (QE) in achieving the goal of reducing long-term interest rates. Japan, considered as the precursor of QE policy, also conducted research about the consequences of non-standard instruments, implemented to restore financial stability of the country. Although the literature about the effectiveness of Quantitative Easing in Japan is extensive, it does not uniquely specify whether it brought permanent effects. The main aim of the study is to identify the implications of non-standard monetary policy, implemented by selected central banks (the Federal Reserve System, Bank of England and European Central Bank), paying particular attention to the consequences into three areas: the size of money supply, financial markets, and the real economy.

Keywords: consequences of modern monetary policy, quantitative easing policy, banking sector instability, global financial crisis

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Authors: Deepti Kohli, Meeta Keswani Mehra

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The paper develops a theoretical model of electoral competition with purely opportunistic candidates and a uni-dimensional policy using the probability voting approach while focusing on the aspect of lobby formation to analyze the inherent complex interactions between centripetal and centrifugal forces and their effects on equilibrium policy platforms. There exist three types of agents, namely, Left-wing, Moderate and Right-wing who comprise of the total voting population. Also, it is assumed that the Left and Right agents are free to initiate a lobby of their choice. If initiated, these lobbies generate donations which in turn can be contributed to one (or both) electoral candidates in order to influence them to implement the lobby’s preferred policy. Four different lobby formation scenarios have been considered: no lobby formation, only Left, only Right and both Left and Right. The equilibrium policy platforms, amount of individual donations by agents to their respective lobbies and the contributions offered to the electoral candidates have been solved for under each of the above four cases. Since it is assumed that the agents cannot coordinate each other’s actions during the lobby formation stage, there exists a probability with which a lobby would be formed, which is also solved for in the model. The results indicate that the policy platforms of the two electoral candidates converge completely under the cases of no lobby and both (extreme) formations but diverge under the cases of only one (Left or Right) lobby formation. This is because in the case of no lobby being formed, only the centripetal forces (emerging from the election-winning aspect) are present while in the case of both extreme (Left-wing and Right-wing) lobbies being formed, centrifugal forces (emerging from the lobby formation aspect) also arise but cancel each other out, again resulting in a pure policy convergence phenomenon. In contrast, in case of only one lobby being formed, both centripetal and centrifugal forces interact strategically, leading the two electoral candidates to choose completely different policy platforms in equilibrium. Additionally, it is found that in equilibrium, while the donation by a specific agent type increases with the formation of both lobbies in comparison to when only one lobby is formed, the probability of implementation of the policy being advocated by that lobby group falls.

Keywords: electoral competition, equilibrium policy platforms, lobby formation, opportunistic candidates

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Authors: Michael Kho Lim

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This paper examines the status of the film industry as an industry in the Philippines—where or how it is classified in the Philippine industrial classification system and how this positioning gives the film industry an identity (or not) and affects (film) policy development and impacts the larger national economy. It is important to look at how the national government recognises Philippine cinema officially, as this will have a direct and indirect impact on the industry in terms of its representation, conduct of business, international relations, and most especially its implications on policy development and implementation. Therefore, it is imperative that the ‘identity’ of Philippine cinema be clearly established and defined in the overall industrial landscape. Having a clear understanding of Philippine cinema’s industry status provides a better view of the bigger picture and helps us determine cinema’s position in the national agenda in terms of priority setting, future direction and how the state perceives and thereby values the film industry as an industry. This will then serve as a frame of reference that will anchor the succeeding discussion. Once the Philippine film industry status is identified, the paper will then clarify how cultural policy is defined, understood, and applied in the Philippines in relation to Philippine cinema by reviewing and analyzing existing policy documents and pending bills in the Philippine Congress and Senate. Lastly, the paper delves into the roles that (national) cultural institutions and industry organisations play as primary drivers or support mechanisms and how they become platforms (or not) for the upliftment of the independent film sector and towards the sustainability of the film industry. The paper concludes by arguing that the role of the government and how government officials perceive and treats culture is far more important than cultural policy itself, as these policies emanate from them.

Keywords: cultural and creative industries, cultural policy, film industry, Philippine cinema

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Authors: Avadh Bihari

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Corporate social responsibility (CSR) has become a global parameter to define corporates' ethical and responsible behaviour. It was a voluntary practice in India till 2013, driven by various guidelines, which has become a mandate since 2014 under the Companies Act, 2013. This has compelled the corporates to redesign their CSR strategies by bringing in structures, planning, accountability, and transparency in their processes with a mandate to 'comply or explain'. Based on the author's M.Phil. dissertation, this paper presents the changes in organisational practices and institutional mechanisms of third-sector organisations (TSOs) with the theoretical frameworks of institutionalism and co-optation. It became an interesting case as India is the only country to have a law on CSR, which is not only mandating the reporting but the spending too. The space of CSR in India is changing rapidly and affecting multiple institutions, in the context of the changing roles of the state, market, and TSOs. Several factors such as stringent regulation on foreign funding, mandatory CSR pushing corporates to look out for NGOs, and dependency of Indian NGOs on CSR funds have come to the fore almost simultaneously, which made it an important area of study. Further, the paper aims at addressing the gap in the literature on the effects of mandated CSR on the functioning of TSOs through the empirical and theoretical findings of this study. The author had adopted an interpretivist position in this study to explore changes in organisational practices from the participants' experiences. Data were collected through in-depth interviews with five corporate officials, eleven officials from six TSOs, and two academicians, located at Mumbai and Delhi, India. The findings of this study show the legislation has institutionalised CSR, and TSOs get co-opted in the process of implementing mandated CSR. Seventy percent of the corporates implement their CSR projects through TSOs in India; this has affected the organisational practices of TSOs to a large extent. They are compelled to recruit expert workforce, create new departments for monitoring & evaluation, communications, and adopt management practices of project implementation from corporates. These are attempts to institutionalise the TSOs so that they can produce calculated results as demanded by corporates. In this process, TSOs get co-opted in a struggle to secure funds and lose their autonomy. The normative, coercive, and mimetic isomorphisms of institutionalism come into play as corporates are mandated to take up CSR, thereby influencing the organisational practices of TSOs. These results suggest that corporates and TSOs require an understanding of each other's work culture to develop mutual respect and work towards the goal of sustainable development of the communities. Further, TSOs need to retain their autonomy and understanding of ground realities without which they become an extension of the corporate-funder. For a successful CSR project, engagement beyond funding is required from corporate, through their involvement and not interference. CSR-led community development can be structured by management practices to an extent, but cannot overshadow the knowledge and experience of TSOs.

Keywords: corporate social responsibility, institutionalism, organisational practices, third-sector organisations

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Authors: Chia-Chi Cheng

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After the implementation of “the internet plus,” several puzzles emerge as below: why does China impose more regulation and laws on economic development on the Internet? Why does China urge the importance of manufacturing industry? Why does China’s local government passively implement the policy imposed by the central government? What kind of factors can influence China’s local government’s economic preference? In the framework of neo-institutionalism, this research considers China’s local government as changing agents to analyze its preferences and behavior. In general, the interests urged by the local government will decide its preference and behaviors. They will change its counterpart to cooperate if the change will bring more benefits. Thus, they will change its preference and behavior while the external environment alters. While the local government has the same definition on political activity and economic interest, they will prefer to cooperate with the local enterprises in the way of laying symbiont, within the presumption that the institution remains. While the local government has the different positions on political activity and economic interest, they will re-define the existed regulation or create new regulation in the condition of institution vacuum. Sequentially, they will replace the targets, and the policy, which does not fit in the Central government’s policy, will emerge.

Keywords: China, institutional change, government enterprise relationship, e-commercial policy

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Authors: Raymond Ndhlovu, Jen Snowball

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It has long been known that the Cultural and Creative Industries (CCIs) have the potential to aid in physical, social and economic renewal and regeneration of towns and cities, hence their importance when dealing with regional development. The CCIs can act as a catalyst for activity and investment in an area because the ‘consumption’ of cultural activities will lead to the activities and use of other non-cultural activities, for example, hospitality development including restaurants and bars, as well as public transport. ‘Consumption’ of cultural activities also leads to employment creation, and diversification. However, CCIs tend to be clustered, especially around large cities. There is, moreover, a case for development of CCIs around smaller towns and cities, because they do not rely on high technology inputs, and long supply chains, and, their direct link to rural and isolated places makes them vital in regional development. However, there is currently little research on how to craft cultural policy for regions with smaller towns and cities. Using the Sarah Baartman District (SBDM) in South Africa as an example, this paper describes the process of developing cultural policy for a region that has potential, and existing, cultural clusters, but currently no one, coherent policy relating to CCI development. The SBDM was chosen as a case study because it has no large cities, but has some CCI clusters, and has identified them as potential drivers of local economic development. The process of developing cultural policy is discussed in stages: Identification of what resources are present; including human resources, soft and hard infrastructure; Identification of clusters; Analysis of CCI labour markets and ownership patterns; Opportunities and challenges from the point of view of CCIs and other key stakeholders; Alignment of regional policy aims with provincial and national policy objectives; and finally, design and implementation of a regional cultural policy.

Keywords: cultural and creative industries, economic impact, intrinsic value, regional development

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Authors: Nur Inayah Ismaniar, Sukri Palutturi, Ansariadi, Atjo Wahyu

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Background: In various countries in the world, the problem of smoking is now considered something serious because of the effects of smoking which can not only lead to addiction but also have the potential to harm health. Public health authorities have concluded that one solution that can be done to protect the public from active smokers is to issue a policy that requires public facilities to be completely smoke-free. The hospital is one of the public facilities that has been designated as a smoke-free area. However, the implementation and maintenance of a successful program based on a smoke-free hospital are still considered an ongoing challenge worldwide due to the very low level of adherence. The low level of compliance with this smoke-free policy is also seen in other public facilities. The purpose of the literature review is to review the level of compliance with the application of the Non-Smoking Area policy, how this policy has succeeded in reducing smoking activity in hospitals, and what factors lead to such compliance in each country in the world. Methods: A literature review of articles was carried out on all types of research methods, both qualitative and quantitative. The sample is all subjects who are in the research location, which includes patients, staff and hospital visitors. Results: Various variations in the level of compliance were found in various kinds of literature. The literature with the highest level of compliance is 88.4%. Furthermore, several determinants that are known to affect the compliance of the Non-Smoking Area policies in hospitals include communication, information, knowledge, perceptions, interventions, attitudes and support. Obstacles to its enforcement are the absence of sanctions against violators of the Non-Smoking Area policy, the ineffectiveness of the function of policymakers in hospitals, and negative perceptions of smoking related to mental health. Conclusion: Violations of the Non-Smoking Area policy are often committed by the hospital staff themselves, which makes it difficult for this policy to be fully enforced at various points in the hospital.

Keywords: health policy, non-smoking area, hospital, implementation

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Authors: A. H. A. Hamid, N. A. Zainuddin, M. Y. M. Nor

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Millions of child refugees leave their countries in the hope of better and safer lives particularly in the aspect of education. However, the education access for the child refugees is strongly depending on the policies made by the federal and local governments. Malaysia, in particular, is a country which does not have a specific educational policy that is inclusive of child refugees. Hence, this study explores the feasibility of possible educational policy that specifically caters the needs of child refugees in Malaysia. These are preliminary findings of a case study which involved thirty-five postgraduate students in a local university who undertook Educational Policy coursework and five teachers in a refugee community centre in Kuala Lumpur, Malaysia. Interviews were recorded, transcribed and thematically analysed in relation to issues highlighted in the refugee education literature. The findings showed that most of the informants felt there is an urgent need of a systematic intervention put in place by the local government to cater to the needs of equal education access to the child refugees. A further large scale study is needed in the near future by integrating different perspectives of relevant stakeholders for an effective, efficient and sustainable policy formulation and implementation related to child refugees in Malaysia. The findings may be of interests to the educators, the ministry of education, state education office, district education office, teachers, parents and surrounding communities for their awareness about the needs of refugee education and the feasibility of educational policy for child refugees in the country.

Keywords: child refugees, educational policy, inclusive education, Malaysia

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Authors: R. Henry, H. Andriamboavonjy, J. B. Paulin, S. Drahy, R. Gourichon

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During past decade, Chinese monetary policy has been to maintain stability of exchange rate CNY/USD by creating parity between the two currencies. This policy, against market equilibrium, impacts the exchange rate in having low Yuan currency, and keeping attractiveness of Chinese industries. Using macroeconomic and statistic approach, the impact of such policy onto CNY/USD exchange rate is quantitatively determined. It is also pointed out how Chinese banks respect Basel III ratios, in particular the foreign exchange ratio. The main analysis is focusing on how Chinese banks will respect these ratios in the future.

Keywords: macroeconomics models, yuan floating exchange rate, basel iii, china banking system

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Authors: Momen Yaseen M. Amin

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Despite widespread coverage of language policy in the literature, there has been scant research probing into English language education policy at tertiary levels in general and in the case of higher education context of Iraqi Kurdistan in particular. The present qualitative study investigated the results of a questionnaire on attitudes toward English language education policy in terms of attitudes toward the English language in general, the current English education policy, and the purposes for learning English among Kurdish EFL university students. Moreover, this study aimed to investigate this topic in light of the participants’ gender and major. To this end, an adapted version of Yang’s (2012) questionnaire was administered to university EFL students majoring in soft and hard sciences (N=300, male 34%, female 67%, four and two disciplines, respectively) at two-state and private universities in Iraqi Kurdistan. The findings revealed positive attitudes toward English as an international language in both soft and hard sciences. While strongly subscribing to the idea that all Iraqi Kurdish students should learn the English language and the courses to be offered in English as well as Kurdish, the majority of the participants expressed their readiness and enthusiasm to excel in English and considered such competency a significant academic accomplishment. However, a good number felt dissatisfied with the status quo of English education at their institutions. This paper provides some implications and recommendations for English education policies makers, administrators, and English language instructors at tertiary levels.

Keywords: attitudes, language policy, English language education, Iraqi Kurdistan

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Authors: Athena Pedro, Carushca de Beer, Erin Cupido, Tarryn Johnson, Tawana Keneilwe, Crystal Stoffels, Carinne Annfred Lorraine Petersen, Kuan Michael Truskey

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The early experiences of children during their first 1000 days of life are the main determining factor of their development. Therefore, the aim of this study was to explore mothers' understanding of an attachment bond and the role that it plays in early childhood. A qualitative exploratory research design guided this study. Ethics approval was granted by appropriate ethics committees. Data were gathered through the use of semi-structured interviews with 15 participants within the Cape Town area, South Africa. Participants completed informed consents and were informed of confidentiality, anonymity, their rights, and voluntary participation. Thematically analysed data revealed that many participants were unaware of the term ‘the first 1000 days of a child’s life’; however, they were aware of the methods to be used for forming an attachment bond with their children. There is a need for more awareness on the subject matter within South Africa.

Keywords: awareness, children, first 1000 days, milestones, South Africa, understanding

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Authors: Mahdi Azizzadeh, Ali Nabizadeh

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This paper investigates whether ownership structure has significant effects on dividend policy and the percentage of cash dividend payout ratio in Iranian companies listed on the Tehran Stock Exchange. We use a sample of 300 firm-years for 2010-2014. Results indicate that there is no significant relationship between family ownership and/or institutional ownership and dividend policy. Furthermore, there is no significant relationship between dividend policies in family-owned firms with high or low institutional ownership. However, our empirical test shows that family firms with a low level of institutional investors distribute more cash dividends on average than family firms with a high level of institutional ownership.

Keywords: family ownership, institutional ownership, dividend policy, dividend payout ratio

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Authors: Pallavi Mane, Nikita Mankar, Shraddha Mazire, Rasika Pashankar

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Content sharing sites are very useful in sharing information and images. However, with the increasing demand of content sharing sites privacy and security concern have also increased. There is need to develop a tool for controlling user access to their shared content. Therefore, we are developing an Adaptive Privacy Policy Prediction (A3P) system which is helpful for users to create privacy settings for their images. We propose the two-level framework which assigns the best available privacy policy for the users images according to users available histories on the site.

Keywords: online information services, prediction, security and protection, web based services

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Authors: Agustin Baidez, Yolanda Ramirez

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There is currently a growing interest in the improvement of university governance and the disclosure of information on governance processes as an essential part of the transparency and accountability of universities. This paper aims to examine the extent and quality of voluntary corporate governance disclosure by public Spanish universities on their websites in relation to information need of stakeholders. The results of this study show that Spanish university stakeholders attach great importance to the disclosure of specific information on aspects of corporate governance. However, the quality of disclosed information on university governance in public Spanish universities websites is in the middle level. In order to satisfy the information needs of university stakeholders, Spanish universities can be recommended to focus on reporting higher quality information on university autonomy in financing, autonomy in management, autonomy regarding student selection and assessment, degree of consanguinity of executive directors, report on assigned public funding based on results, and management reports.

Keywords: university, governance, transparency, stakeholders

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Authors: Fayiz Saifurahman

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Afghanistan's geopolitically and geo-strategically location has remained the attention of Indian policy. On 11 September 2001, the terrorist attacks in the United States and the announcement of the United States, fight for international war against the Taliban in November 2001 provided India a chance to pursue its foreign policy goals of achieving a good position in the region and emerging as an international power. Therefore, post-9/11, India strengthened its efforts to re-establish its power in Afghanistan. The objectives of this study are to study the India-Afghanistan relation in the post 9/11 and to discuss the initial role of India in Afghanistan. The research method was conducted on a qualitative method based on descriptive. The research findings propose that; Indian foreign policy should be analyzed and increase its soft power. Afghanistan has definitely provided a significant occasion for India to increase its power in Afghanistan. In this linkage, Indian determinations have been to intrude all parts in Afghanistan to make them reliant on Indian cooperation.

Keywords: Afghanistan, war, power, policy.

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Authors: Jaballah Jamil

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KLD (Peter Kinder, Steve Lydenberg and Amy Domini) research & analytics is an independent intermediary of social performance information that adopts an investor-pay model. KLD rating agency does not have an explicit monitoring on the rated firm which suggests that KLD ratings may not include private informations. Moreover, the incapacity of KLD to predict accurately the extra-financial rating of Enron casts doubt on the reliability of KLD ratings. Therefore, we first investigate whether KLD ratings affect investors' perception by studying the effect of KLD rating changes on firms' financial performances. Second, we study the impact of the Enron scandal on investors' perception of KLD rating changes by comparing the effect of KLD rating changes on firms' financial performances before and after the failure of Enron. We propose an empirical study that relates a number of equally-weighted portfolios returns, excess stock returns and book-to-market ratio to different dimensions of KLD social responsibility ratings. We first find that over the last two decades KLD rating changes influence significantly and negatively stock returns and book-to-market ratio of rated firms. This finding suggests that a raise in corporate social responsibility rating lowers the firm's risk. Second, to assess the Enron scandal's effect on the perception of KLD ratings, we compare the effect of KLD rating changes before and after the Enron scandal. We find that after the Enron scandal this significant effect disappears. This finding supports the view that the Enron scandal annihilates the KLD's effect on Socially Responsible Investors. Therefore, our findings may question results of recent studies that use KLD ratings as a proxy for Corporate Social Responsibility behavior.

Keywords: KLD social rating agency, investors' perception, investment decision, financial performance

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Authors: Mehrab Karimian

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The present research aimed to investigate the problems of teaching and learning English in middle schools in Esfahan, Iran. These problems are associated with the learner, teacher, textbook, syllabus, and language policy. The instrument used was a self-constructed likert scale questionnaire. All the variables had a hand in the problems among which textbook, syllabus and language policy had the most effect. Twenty five problems were distinguished among which some are as follows: students do not consider pair work important; most of the time, most teachers do not speak in English in the classroom; the textbook does not include CDs or cassettes, does not consists of all the English Skills; the syllabus does not include one or two projects for students apart from the midterm or final test, Language Policy being not completely familiar with the steps of EFL teaching, does not selecting the most qualified and proficient teachers in EFL teaching. It can be concluded that the language policy should take a practical step in reducing the problems by changing the textbooks and providing more teaching aids for the teachers.

Keywords: teaching and learning english, problems of teaching and learning english, middle school, Iran

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Authors: Huizi Zeng

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This paper delineates the historical retrospective and current status of school choice in China. Focusing on analyzing the similarities and differences in origin, evolution, public dispute, policy dynamics between China and the United States, the article depicts a panorama and explores possible causes. Both China and the United States continue to learn from historical legacy and invent new programs to perfect school choice policy but the outcomes are so different. On the one hand, the percentage of public schools in China remains high all along, while there is a considerably significant reduction in the United States. On the other hand, there is more governmental intervention in the United States with continuous and constant policy updates and adjustment. Finally, this article adopts public-private partnerships (PPP) to seek to provide insights into differences between the two countries and argue that school choice is not only the production of education marketization and corporation but also driven by political mechanism.

Keywords: China, United States, school choice, comparative analysis, policy, public private partnerships

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Authors: Thi Phuong Lan Nguyen

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The English Language Teacher Education (ELTE) in Vietnam is rapidly changing to address the new requirements of the globalization and socialization era. Although there has been a range of investments and innovation in policy and curriculum, tertiary educators and learners do not engage in the enactment. It is vital to understand the practices at the tertiary education level. The study is to understand the higher education curriculum development policy, both in theory and in practice across four representatives of ELTE institutions in the North of Vietnam. The lecturers’ perceptions about the extent to which the enacted curriculum is aligned with national standards will be explored. Nineteen policy documents, seventy surveys, and twelve interviews with lecturers and instructional leaders across these four Vietnamese Northern ELTE institutions have been analyzed to investigate how the policy shape the practice. The two most significant findings are (i) a low level of alignment between curriculum and soft-skills standards of the graduates required by the Vietnamese Ministry of Education and Training (MOET) and (ii) incoherence between current national policy and these institutions’ implementation. In order to address these gaps, it is strongly recommended that curriculum needs to be further developed, focusing more on the institutional outcomes, MOET’s standards, and the social demands in times of globalization. More importantly, professional development in ELTE is vital for a range of curriculum and educational policy stakeholders. The study helps to develop the English teaching profession in Vietnam in a systematic way, from policymakers to implementers, and from instructors to learners. Its significance lies in its relevance to English teaching careers, particularly within the researcher’s specific context, yet also remains relevant to ELTE in other parts of Vietnam and in other EFL (English as a Foreign Language) countries.

Keywords: curriculum, English language teaching education, policy implementation, standard, teaching practice

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Authors: O. Colot, M. Croquet, L. Cultrera, Y. Fandja Collince

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The objective of our research is to evaluate the impact of the allowance for corporate equity (ACE) on the financial structure of Belgian SME in order to highlight the potential existence of a fiscal leverage. To limit the biases linked to the rationing of the capital further to the financial crisis, we compare first the dynamic evolution of the financial structure of the Belgian firms over the period 2006-2015 by focusing on three sub-periods: 2006-2008, 2009-2012 and 2013-2015. We give then an international size to this comparison by including SMEs from countries adjoining Belgium (France, Germany, Netherlands and the United Kingdom) and within which there is no ACE. This comparison allows better understanding the fiscal advantage linked to the ACE of firms evolving in a relatively unstable economic environment further to the financial crisis of 2008. This research is relevant given the economic and political context in which Belgium operates and the very uncertain future of the Belgian ACE. The originality of this research is twofold: the long study period and the consideration of the effects of the financial and economic crisis on the financing structure of Belgian SMEs. The results of this research, even though they confirm the existence of a positive fiscal leverage for the tax deduction for venture capital on the financing structure of Belgian SMEs, do not allow the extent of this leverage to be clearly quantified. The comparative evolution of financing structures over the period 2006-2015 of Belgian, French, German, Dutch and English SMEs shows a strong similarity in the overall evolution of their financing.

Keywords: allowance for corporate equity, Belgium, financial structure, small and medium sized firms

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Authors: Ahmad Haidar

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This research paper investigates the concept of modern management, concentrating on the development of managerial practices and the adoption of innovative strategies in response to the fast-changing business landscape caused by Artificial Intelligence (AI). The study begins by examining the historical context of management theories, tracing the progression from classical to contemporary models, and identifying key drivers of change. Through a comprehensive review of existing literature and case studies, this paper provides valuable insights into the principles and practices of modern management, offering a roadmap for organizations aiming to navigate the complexities of the contemporary business world. The paper examines the growing role of digital technology in modern management, focusing on incorporating AI, machine learning, and data analytics to streamline operations and facilitate informed decision-making. Moreover, the research highlights the emergence of new principles, such as adaptability, flexibility, public participation, trust, transparency, and digital mindset, as crucial components of modern management. Also, the role of business leaders is investigated by studying contemporary leadership styles, such as transformational, situational, and servant leadership, emphasizing the significance of emotional intelligence, empathy, and collaboration in fostering a healthy organizational culture. Furthermore, the research delves into the crucial role of environmental sustainability, corporate social responsibility (CSR), and corporate digital responsibility (CDR). Organizations strive to balance economic growth with ethical considerations and long-term viability. The primary research question for this study is: "What are the key principles, practices, and innovations that define modern management, and how can organizations effectively implement these strategies to thrive in the rapidly changing business landscape?." The research contributes to a comprehensive understanding of modern management by examining its historical context, the impact of digital technologies, the importance of contemporary leadership styles, and the role of CSR and CDR in today's business landscape.

Keywords: modern management, digital technology, leadership styles, adaptability, innovation, corporate social responsibility, organizational success, corporate digital responsibility

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Authors: Mergen Dyussenov

Abstract:

Food security has become a prominent issue on the global policy agenda. Yet, one particular region that remains understudied is a cohort of Central Asian countries. To shed light onto the issue, the paper looks into a review of existing literature related to food security policies in Central Asia. In so doing, it seeks to systematize the context analyzed, key findings, and recommendations. Furthermore, it analyzes the role of key actors in promoting the food security policies across Central Asian nations. Finally, the paper attempts to set the agenda for further research.

Keywords: food security, central Asia, the role of actors, policy analysis

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Authors: Kristine Demilou Santiago

Abstract:

In a context of a developing nation, how important is the role of Corporate Social Responsibility health programs? Is there a possibility that this will render a large impact in a society where health benefits are insufficient? The Philippine government has been in an unceasing battle to provide its citizens competitive health benefits through launching various health programs. As the efforts are being claimed by the government, the numbers just show that all the health benefits being offered such as PhilHealth health cards, medical missions and other subsidized government health benefits are not effective and sufficient at the minimum level. This is a major characteristic of a developing nation which the Philippine government is focusing on addressing as it becomes a national concern under the effects of poverty. Industrial companies, through Corporate Social Responsibility, are playing an important role in the aspiration to resolve this problem on health programs as supposed to be basic services to citizens of the Philippine government. The rise of commitment by these industrial companies to render health programs to communities as part of their corporate citizenship has covered a large portion of the basic health services that the Filipino citizens are supposed to be receiving. This is the most salient subject that a developing nation should focus on determining the important contribution of industrial companies present in their country as part of the citizens’ access to basic health services. The use of survey forms containing quantitative and qualitative questions which aim to give numerical figures and support answers as to the role of CSR Health programs in helping the communities receive the basic health services they need was the methodological procedure followed in this research. A sample population in a community where the largest industrial company in a province of the Philippines was taken through simple random sampling. The assumption is that this sample population which represents the whole of the community has the highest opportunities to access both the government health services and the CSR health program services of the industrial company located in their community. Results of the research have shown a significant level of participation by industrial companies through their CSR health programs in the attainment of basic health services that should be rendered by the Philippine government to its citizens as part of the state’s health benefits. In a context of a developing nation such as the Philippines, the role of Corporate Social Responsibility is beyond the expectation of initiating to resolve environmental and social issues. It is moving deeper in the concept of the corporate industries being a pillar of the government in catering the support needed by the individuals in the community for its development. As such, the concept of the presence of an industrial company in a community is said to be a parallel progress: by which when an industrial company expands because it is becoming more profitable, so is the community gaining the same step of progress in terms of socioeconomic development.

Keywords: basic health services, CSR health program, health services in a developing nation, Philippines health benefits

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Authors: Xiwu Feng

Abstract:

The paper is to analyze research ethics in social and behavioral sciences from a cross-cultural perspective. A multi-phase study investigated implementations of ethical standards and guidelines in higher institutions in China. Institutional policies and procedures on human subject research and perceptions of human subject protection were assessed in the Chinese research universities from different regions. The findings of the study indicate that the implementations of ethical standards and guidelines vary from institution to institution and from region to region. Education and cultural backgrounds of the participants influence their perceptions of the welfare and privacy of human subjects. The results of the study reveal great differences and complexities in ethical standards for the protection of human subjects of research in contrast to the Western world. The Chinese collectivistic values and the cooperative-harmonious democracy play a significant role in perceiving and implementing ethical guidelines. Chinese researchers find themselves a long way to go before seeing implementations of regulations and guidelines on human subject research in social and behavioral sciences.

Keywords: ethical standards, human subjects, research ethics, social and behavioral research

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Authors: Nora Yusma Bte Mohamed Yusoff, Hussain Ali Bekhet

Abstract:

The rationalization of a gradual subsidies reforms plan has been set out by the Malaysian government to achieve the high-income nation target. This paper attempts to analyze the impacts of energy subsidy reform policy on fiscal deficit and macroeconomics variables in Malaysia. The Computable General Equilibrium (CGE) Model is employed. Three simulations based on different groups of scenarios have been developed. Importantly, the overall results indicate that removal of fuel subsidy has significantly improved the real GDP and reduced the government fiscal deficit. On the other hand, the removal of the fuel subsidy has increased most of the local commodity prices, especially energy commodities. The findings of the study could provide some imperative inputs for policy makers, especially to identify the right policy mechanism. This is especially ensures the subsidy savings from subsidy removal could be transferred back into the domestic economy in the form of infrastructure development, compensation and increases in others sector output contributions towards a sustainable economic growth.

Keywords: CGE, deficit, energy, reform, subsidy

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Authors: Terada Pinyo

Abstract:

This study is a survey research designed to evaluate the quality of graduate students and factors influencing their quality. The sample group consists of 240 students. The data are collected from stratified sampling and are analyzed and calculated by instant computer program. Statistics used are percentage, mean, standard deviation, Pearson correlation coefficient, Cramer’s V and logistic regression analysis. It is found that the graduate students’ opinions regarding their characteristics according to the Thai Qualifications Framework for Higher Education (TQF) are at high score range both overall and specific category. The top categories that received the top score are interpersonal skills and responsibility, ethics and morals, knowledge, cognitive skills, numerical analysis with communication and information technology skills, respectively. On the other hand, factors affecting the quality of graduate students are cognitive skills, numerical analysis with communication and information technology, knowledge, interpersonal skills and responsibility, ethics and morals, and career regarding sales/business, respectively.

Keywords: student quality evaluation, Thai qualifications framework for higher education, graduate school, cognitive skills

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Authors: Byomakesh Debata, Jitendra Mahakud

Abstract:

The recent financial crisis has been characterized by massive monetary policy interventions by the Central bank, and it has amplified the importance of liquidity for the stability of the stock market. This paper empirically elucidates the actual impact of monetary policy interventions on stock market liquidity covering all National Stock Exchange (NSE) Stocks, which have been traded continuously from 2002 to 2015. The present study employs a multivariate VAR model along with VAR-granger causality test, impulse response functions, block exogeneity test, and variance decomposition to analyze the direction as well as the magnitude of the relationship between monetary policy and market liquidity. Our analysis posits a unidirectional relationship between monetary policy (call money rate, base money growth rate) and aggregate market liquidity (traded value, turnover ratio, Amihud illiquidity ratio, turnover price impact, high-low spread). The impulse response function analysis clearly depicts the influence of monetary policy on stock liquidity for every unit innovation in monetary policy variables. Our results suggest that an expansionary monetary policy increases aggregate stock market liquidity and the reverse is documented during the tightening of monetary policy. To ascertain whether our findings are consistent across all periods, we divided the period of study as pre-crisis (2002 to 2007) and post-crisis period (2007-2015) and ran the same set of models. Interestingly, all liquidity variables are highly significant in the post-crisis period. However, the pre-crisis period has witnessed a moderate predictability of monetary policy. To check the robustness of our results we ran the same set of VAR models with different monetary policy variables and found the similar results. Unlike previous studies, we found most of the liquidity variables are significant throughout the sample period. This reveals the predictability of monetary policy on aggregate market liquidity. This study contributes to the existing body of literature by documenting a strong predictability of monetary policy on stock liquidity in an emerging economy with an order driven market making system like India. Most of the previous studies have been carried out in developing economies with quote driven or hybrid market making system and their results are ambiguous across different periods. From an eclectic sense, this study may be considered as a baseline study to further find out the macroeconomic determinants of liquidity of stocks at individual as well as aggregate level.

Keywords: market liquidity, monetary policy, order driven market, VAR, vector autoregressive model

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