Search results for: project governance

Authors: Yan Wang, Yuan George Shan

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This study examines whether earnings management reduces firm performance and how other comprehensive income (OCI) disclosure and strong corporate governance restrain earnings management. Using a data set comprising 6,260 firm-year observations from listed companies on the Shanghai and Shenzhen Stock Exchanges during 2009–2015, the results indicate that OCI disclosure generally improves firm performance, but earnings management lowers firm performance. The study also finds that OCI disclosure and corporate governance are complementary in restraining earnings manipulation and promote firm performance. The implications of the findings are relevant policy-makers and regulators in assisting them evaluate the consequences of convergence of Chinese Accounting Standards with the International Financial Reporting Standards.

Keywords: other comprehensive income, corporate governance, earnings management, firm performance, China

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Authors: Philemon Rakoto

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Most executive compensation packages consist of four major components: base fixed salary, annual and long-term non-equity incentive plans, share-based and option-based awards and pension value. According to agency theory, the relative composition of executive compensation packages is one of the mechanisms that firms use to align the interests of executives and shareholders in order to mitigate agency costs. This paper tests the effect of the relative composition of executive compensation packages on financial reporting quality. Financial reporting quality is measured by the value relevance of accounting earnings. Corporate governance is a moderating variable in the model. Using data from Canadian firms composing S&P/TSX index of the year 2013 and governance scores based on Board Games, the analysis shows that, only for firms with good governance, there is an optimal level of the proportion of executive equity-based compensation in relation to total compensation that enhances the quality of financial reporting.

Keywords: Canada, corporate governance, executive compensation packages, financial reporting quality

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Authors: Wanlapha Phraibueng, Patrick Sentis, Geraldine Riviere-Giordano

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Corporate Social Responsibility (CSR) initiatives have been widely discussed especially in investor-oriented firms. In contrast, cooperatives pay less attention to CSR because their activities have integrated the responsibility and the solidity of social, economic and environment. On the other hand, by adopting ownership theory and agency theory – cooperatives ignore CSR investment due to unclarified decision control in the governance and the limitation to acquire the capital financed. The unique governance and financial structures in cooperatives lead to the conflict among the stakeholders and long-term investment which have an impact on firm financial performance. As an illustration of cooperatives dilemmas, we address the question of Whether or not cooperatives in term of governance and financial structures are the constraints on implementing CSR policies. We find that the governance and financial structures in large cooperatives are the influence factors which predispose cooperatives to invest on CSR. In contrast, in the startup or small cooperatives, its governance and financial structures are the constraints on implementing CSR policies. We propose the alternative financial structure based on the trade-off between debt and equity which aims to relax the restrictions in cooperatives’ governance and allow cooperatives to acquire the capital financed either from its members or non-members. We suggest that engaging equity as a financial structure induces cooperatives to invest on CSR policies. Alternative financial structure eliminates not only cooperative ownership control problem but also the constraints in capital acquisition. By implementing CSR activities consistent with the alternative financial choice, cooperatives can increase firm’s value and reduce the conflict among their stakeholders.

Keywords: cooperatives, corporate social responsibility, financial, governance

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Authors: Tchapo Tchaga Sophia, Cai Chun

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This study measures the efficiency level of corporate governance to improve the quality level of value relevance in the resolution of market value efficiency increase issues, transparency problems, risk frauds, agency problems, investors' confidence, and decision-making issues using IFRS and Corporate Governance Acts (CGA). The final sample of this study contains 3660 firms from ten countries' stock markets from 2010 to 2020. Based on the efficiency market theory and the positive accounting theory, this paper uses multiple econometrical methods (DID method, multivariate and univariate regression methods) and models (Ohlson model and compliance index model) regression to see the incidence results of corporate governance mechanisms on the value relevance level under the influence of IFRS and corporate governance regulations act framework in Africa's stock exchanges for non-financial firms. The results on value relevance show that the corporate governance system, strengthened by the adoption of IFRS and enforcement of new corporate governance regulations, produces better financial statement information when its compliance level is high. And that is both value-relevant and comparable to results in more developed markets. Similar positive and significant results were obtained when predicting future book value per share and earnings per share through the determination of stock price and stock return. The findings of this study have important implications for regulators, academics, investors, and other users regarding the effects of IFRS and the Corporate Governance Act (CGA) on the relationship between corporate governance and accounting information relevance in the African stock market. The contributions of this paper are also based on the uniqueness of the data used in this study. The unique data is from Africa, and not all existing findings provide evidence for Africa and of the DID method used to examine the relationship between corporate governance and value relevance on African stock exchanges.

Keywords: corporate governance value, market efficiency value, value relevance, African stock market, stock return-stock price

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Authors: Albert Maake, Ifunanya Isama

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International remittances to developing countries reached US$ 485 billion in 2018. By 2015, the East African region had surpassed US$3.5 mark. Considering this, there is no argument as to the contribution of Diaspora remittances as an alternative source of funds in the development process of the developing countries. Nevertheless, this paper seeks to argue that good governance in areas such as policy design, implementation and monitoring play a critical role in the sustainable development process of a nation as opposed to Diaspora remittances in general. Therefore this study intends at analyzing the contribution of Governance as opposed to that of Diaspora remittances for nation development. Employing documentary analysis technique, the secondary data with respect to the countries under study on Diaspora remittances will be collected. Selected indicators for Governance-HDI, Debt-to-GDP Ratio and Corruption Index, will be sourced from the World Bank Data for the purpose of consistency and where applicable the Central Statistical Agencies of the Nations under study. By means of descriptive statistics and content analysis the data will be comparatively analyzed to highlight the unique experiences in Rwanda and Kenya. The findings and interpretations from the study will affirm and promote capacity building for best practices in good governance for the countries under study.

Keywords: diaspora remittance, governance, Kenya, Rwanda, sustainable development

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Authors: Zoran Barac, Maja Martinovic

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Higher Education Institutions (HEIs) are a special kind of organization, with its unique purpose and combination of actors. From the societal point of view, they are central institutions in the society that are involved in the activities of education, research, and innovation. At the same time, their societal function derives complex relationships between involved actors, ranging from students, faculty and administration, business community and corporate partners, government agencies, to the general public. HEIs are also particularly interesting as objects of governance research because of their unique public purpose and combination of stakeholders. Furthermore, they are the special type of institutions from an organizational viewpoint. HEIs are often described as “loosely coupled systems” or “organized anarchies“ that implies the challenging nature of their governance models. Governance models of HEIs describe roles, constellations, and modes of interaction of the involved actors in the process of strategic direction and holistic control of institutions, taking into account each particular context. Many governance models of the HEIs are primarily based on the balance of power among the involved actors. Besides the actors’ power and influence, leadership style and environmental contingency could impact the governance model of an HEI. Analyzing them through the frameworks of institutional and contingency theories, HEI governance models originate as outcomes of their institutional and contingency adaptation. HEIs tend to fit to institutional context comprised of formal and informal institutional rules. By fitting to institutional context, HEIs are converging to each other in terms of their structures, policies, and practices. On the other hand, contingency framework implies that there is no governance model that is suitable for all situations. Consequently, the contingency approach begins with identifying contingency variables that might impact a particular governance model. In order to be effective, the governance model should fit to contingency variables. While the institutional context creates converging forces on HEI governance actors and approaches, contingency variables are the causes of divergence of actors’ behavior and governance models. Finally, an HEI governance model is a balanced adaptation of the HEIs to the institutional context and contingency variables. It also encompasses roles, constellations, and modes of interaction of involved actors influenced by institutional and contingency pressures. Actors’ adaptation to the institutional context brings benefits of legitimacy and resources. On the other hand, the adaptation of the actors’ to the contingency variables brings high performance and effectiveness. HEI governance models outlined and analyzed in this paper are collegial, bureaucratic, entrepreneurial, network, professional, political, anarchical, cybernetic, trustee, stakeholder, and amalgam models.

Keywords: governance, governance models, higher education institutions, institutional context, situational context

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Authors: Muhlisin, Moh. Sofyan Budiarto

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Corporate social responsibility (CSR) initiatives based on charity and philanthropy have not alleviated many sustainable environmental issues, particularly in industrial towns. The collaborative governance strategy is seen to be an option for resolving difficulties of coordination and communication between businesses, the government, and the community so that the goals of urban environmental management can be met via collaborative efforts. The purpose of this research is to identify the different forms of environmental CSR implementation by corporate entities and to create a CSR collaborative governance model in environmental management. This qualitative investigation was carried out in 2020 in Cilegon City, one of Indonesia’s industrial cities. To investigate their support, a total of 20 informants from three stakeholder groups, namely the government, corporate entities, and the community, were questioned. According to the study’s findings, cleaner production, eco-office, energy and natural resource conservation, waste management, renewable energy, climate change adaptation, and environmental education are all examples of CSR application in the environmental sector. The environmental potential of CSR implementation is to create collaborative governance. The role of business entities in providing the beginning circumstances is critical, while the government offers facilitative leadership and the CSR forum launches institutional design. These three factors are crucial to the efficiency of collaborative governance in industrial cities' environmental management.

Keywords: collaborative governance, CSR forum, environmental CSR, industrial city

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Authors: Julieth Gudo

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The prevalence of corruption in African countries and persisting unsatisfactory distribution by governments of state resources among the citizens are clear indicators of a festering problem. Civil society organisations (CSOs) in Southern African countries, as citizen representatives, have been involved in challenging the ongoing corruption and poor governance in the public sector that have caused tensions between citizens and their governments. In doing so, civil society organisations demand accountability, transparency, and citizen participation in public governance. The problem is that CSOs’ role in challenging governments is not clearly defined in both law and literature. This uncertainty has resulted in an unsatisfying operating and legal environment for CSOs and a strained relationship between themselves and the governments. This paper examines civil society organisations' role in advancing good public governance in South Africa and Zimbabwe. The study will be conducted by means of a literature review and case studies. The state of public governance in Southern Africa will be discussed. The historical role of CSOs in the region of Southern Africa will be explored, followed by their role in public governance in contemporary South Africa and Zimbabwe. The relationship between state and civil society organisations will be examined. Furthermore, the legal frameworks that regulate and authoriseCSOs in their part in challenging poor governance in the public sector will be identified and discussed. Loopholes in such provisions will be identified, and measures that CSOs use to hold those responsible for poor governance accountable for their actions will be discussed, consequently closing the existing gap on the undefined role of CSOs in public governance in Southern Africa. The research demonstrates the need for an enabling operating environment through better cooperation, communication, and the relationship between governments and CSOs, the speedy and effective amendment of existing laws, and the introduction of legal provisions that give express authority to CSOs to challenge poor governance on the part of Southern African governments. Also critical is the enforcement of laws so that those responsible for poor governance and corruption in government are held accountable.

Keywords: civil society organisations, public governance, southern Africa, South Africa, zimbabwe

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Authors: Mario Spremic

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Despite the financial crisis and ongoing need for cost cutting, companies all around the world heavily invest in information systems (IS) and underlying information technology (IT). Information systems (IS) play very important role in modern business organizations supporting its organizational efficiency or, under certain circumstances, fostering business model innovation and change. IS can influence organization competitiveness in two ways: supporting operational efficiency (IS as a main infrastructure for the current business), or differentiating business through business model innovation and business process change. In either way, IS becomes very important to the business and needs to be aligned with strategic objectives in order to justify massive investments. A number of studies showed that investments in IS and underlying IT resulted in added business value if they are truly connected with strategic business objectives. In that sense proliferation of governance of enterprise IT helps companies manage, or rather, governs IS as a primary business function with executive management involved in making a decision about IS and IT. The quality of IT governance is rising with the large number of decisions about IS made by executive management, not IT departments. The more executive management is engaged in making a decision about IS and IT, the IT governance is of better quality. In this paper, the practice of governing the enterprise IT will be investigated on a sample of the largest 100 Croatian companies. Research questions posed here will reveal if there are some formal IT governance mechanisms, are there any differences in perceived role of IS and IT between CIOs (Chief Information Officers) and CEOs (Chief Executive Officers) of the sampled companies and what are the mechanisms to govern massive investment in enterprise IT.

Keywords: IT governance, governance of enterprise IT, information system auditing, operational efficiency

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Authors: Jolai R. Garca, Sergio Mahinay Jr., Fathma Dubpaleg, Rhea Jaberina, Jovanne Mabit II

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The COVID-19 pandemic has still been going on for almost two years now, but because of the health and safety practices of the citizens, together with the action of the Local Government Unit, it has slowly dissipated. This study investigated the relationship between the health and safety protocols as well as the status of governance of the Local Government Unit of Midsayap using the evidence-based key indicators of Good Governance aggregated from the Organisation for Economic Co-operation and Development (OECD). A quantitative research design was employed to determine the relationship of the variables under study. Findings showed that the residents of Midsayap often practice the necessary health and safety measures against COVID-19 and that the Local Government Unit of Midsayap is effective in responding to the pandemic.

Keywords: governance, health and safety practices, covid-19, local government unit

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Authors: Joachim Monkelbaan, Marcia Hale

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Now that global frameworks for sustainability governance (e.g. the Sustainable Development Goals, Paris Climate Agreement and Sendai Framework for Disaster Risk Reduction) are in place, the question is how these aspirations that represent major transitions can be put into practice. Water ‘infrasystems’ can play an especially significant role in strengthening regional sustainability. Infrasystems include both hard and soft infrastructure, such as pipes and technology for delivering water, as well as the institutions and governance models that direct its delivery. As such, an integrated infrasystems view is crucial for Integrative Water Management (IWM). Due to frequently contested ownership of and responsibility for water resources, these infrasystems can also play an important role in facilitating conflict and catalysing community empowerment, especially through participatory approaches to governance. In this paper, we analyze the water infrasystem of the Los Angeles region through the lens of global frameworks for sustainability governance. By complementing a solid overview of governance theories with empirical data from interviews with water actors in the LA metropolitan region (including NGOs, water managers, scientists and elected officials), this paper elucidates ways for this infrasystem to be better aligned with global sustainability frameworks. In addition, it opens up the opportunity to scrutinize the appropriateness of global frameworks when it comes to fostering sustainability action at the local level.

Keywords: governance, transitions, global frameworks, infrasystems

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Authors: Faribaebrahimi, Mehdi Ghorbani, Mohsen Mohsenisaravi

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Ecosystem management is complex because of natural and human issues. To cope with this complexity water governance is recommended since it involves all stakeholders including people, governmental and non-governmental organization who related to environmental systems. Water governance emphasizes on water co-management through consideration of all the stakeholders in the form of social and organizational network. In this research, to illustrate indicators of water governance in Dorood watershed, in Shemiranat region of Iran, social network analysis had been applied. The results revealed that social cohesion among pastoralists in Dorood is medium because of trust links, while link sustainability is weak to medium. According to the results, some pastoralists have high social power and therefore are key actors in the utilization network, regarding to centrality index and trust links. The results also demonstrated that Agricultural Development Office and (Shemshak-Darbandsar Islamic) Council are key actors in rangeland co-management, based on centrality index in rangeland institutional network at regional scale in Shemiranat district.

Keywords: social network analysis, water governance, organizational network, water co-management

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Authors: Xin Jie Li

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Due to population agglomeration, huge scale, and complex activities, megacities have become risk centers. To resist the risks brought by development uncertainty, the construction of resilient cities has become a common strategic choice for megacities. As a key link in promoting the modernization of the national governance system and governance capacity, optimizing the layout of national land space that focuses on ecology, production, and life and improving the rationality of spatial resource allocation are conducive to fundamentally promoting the resilience construction of megacities. Therefore, based on the perspective of territorial space governance, this article explores the potential risks faced by the territorial space of megacities and proposes possible paths for the resilience construction of megacities from four aspects: promoting the construction of a resilience system throughout the entire life cycle, constructing a disaster prevention and control system with ecological resilience, creating an industrial spatial pattern with production resilience, and enhancing community resilience to anchor the front line of risk response in megacities.

Keywords: mega cities, potential risks, resilient city construction, territorial and spatial governance

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Authors: Pius Babuna, Xiaohua Yang, Roberto Xavier Supe Tulcan, Bian Dehui, Mohammed Takase, Bismarck Yelfogle Guba, Chuanliang Han, Doris Abra Awudi, Meishui Lia

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Water inequality, water security, and water governance are fundamental parameters that affect the sustainable use of water resources. Through policy formulation and decision-making, water governance determines both water security and water inequality. Largely, where water inequality exists, water security is undermined through unsustainable water use practices that lead to pollution of water resources, conflicts, hoarding of water, and poor sanitation. Incidentally, the interconnectedness of water governance, water inequality, and water security has not been investigated previously. This study modified the Gini coefficient and used a Logistics Growth of Water Resources (LGWR) Model to access water inequality and water security mathematically, and discussed the connected role of water governance. We tested the validity of both models by calculating the actual water inequality and water security of Ghana. We also discussed the implications of water inequality on water security and the overarching role of water governance. The results show that regional water inequality is widespread in some parts. The Volta region showed the highest water inequality (Gini index of 0.58), while the central region showed the lowest (Gini index of 0.15). Water security is moderately sustainable. The use of water resources is currently stress-free. It was estimated to maintain such status until 2132 ± 18, when Ghana will consume half of the current total water resources of 53.2 billion cubic meters. Effectively, water inequality is a threat to water security, results in poverty, under-development heightens tensions in water use, and causes instability. With proper water governance, water inequality can be eliminated through formulating and implementing approaches that engender equal allocation and sustainable use of water resources.

Keywords: water inequality, water security, water governance, Gini coefficient, moran index, water resources management

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Authors: A. A. Omonori, K. T. Alade, A. F. Lawal

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This research was conducted to identify the causes of project abandonment in Nigeria and the effect it has on the host community. The aim of the research was to identify the causes and effects of project failure and abandonment. Project abandonment is a major course of concern in the country as different projects fail and are abandoned at various levels. These projects do not fulfill the purpose for which they were initiated. This is the absolute definition of failure and hence the selection of the Ajaokuta Steel Project as an interesting case study and a typical example of project failure and abandonment. This has been done by conducting field study through the administration of questionnaires. This study was carried out on the Ajaokuta Steel Project to investigate the causes of the abandonment of the project and the effects it has had on the people of Ajaokuta community. Qualitative method of data analysis was used to analyze the findings through frequency tables and ranking. This study brought to light the major factors that led to the abandonment of the Ajaokuta Steel Project. The effects the abandonment of the project has had on the immediate community were identified and recommendations made to prevent the menace of Project abandonment.

Keywords: abandonment, case-study, Nigeria, project

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Authors: Ossama Matrane

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Information System has become a strategic lever for enterprises. It contributes effectively to align business processes on strategies of enterprises. It is regarded as an increase in productivity and effectiveness. So, many organizations are currently involved in implementing sustainable Information System. And, a large number of studies have been conducted the last decade in order to define the success factors of information system. Thus, many studies on maturity model have been carried out. Some of this study is referred to the maturity model of Information System. In this article, we report on development of maturity models specifically designed for information system. This model is built based on three components derived from Maturity Model for Information Security Management, OPM3 for Project Management Maturity Model and processes of COBIT for IT governance. Thus, our proposed model defines three maturity stages for corporate a strong Information System to support objectives of organizations. It provides a very practical structure with which to assess and improve Information System Implementation.

Keywords: information system, maturity models, information security management, OPM3, IT governance

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Authors: Marcel Randermann, Roland Jochem

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Research activities are mostly conducted in form of projects. In fact, research projects take the highest share of all project forms combined. However, project management is very rarely applied purposefully by researchers and scientists. More specifically no project management frameworks, methods or tools are not being used to plan, execute or control research project to ensure research success or improve project quality. In this qualitative study, several interviews were conducted with scientists and research managers from German institutions to gain insights into project management activities, to determine challenges and barriers, and to evaluate premises for successful project management. The analyses show that conventional project management is not easily applicable in scientific environments and researchers’ mindsets prevent a reasonable application.

Keywords: academics, project management methods, research and science projects, scientist's mindset

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Authors: Hani Albogami

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The internal audit function is considered as one of the internal corporate governance mechanisms that may have an impact on improving earnings quality by constraining earnings management. The internal audit function is also a unique corporate governance mechanism because internal auditors have more involvement with the day-to-day operations comparing to the audit committee, and also internal auditors audit their companies the whole year compared to the external auditor who audits only a certain time of the year. The relationships between internal audit function and earnings management can be understood by some theories. Therefore, this paper provides a theoretical background of the influence of the quality of internal audit function on earnings management. In particular, the agency theory, institutional theory, singling theory, and resource dependency theory are adapted by this paper to provide some understanding and analyses that can be a basis for future research to contribute to the corporate governance academic studies.

Keywords: internal audit, corporate governance, earnings management, accounting

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Authors: Trinh Hoang Hong Hue

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Citizen Participation has been largely considered as an important objective of improving democracy and government decision-making in Vietnam recently. The Public Administration Performance Index Survey data (PAPI) indicated that citizens in provinces that have a higher proportion of male often less participate in local governance than those in provinces that have lower proportion of male. That means Vietnamese women more actively participate at the local governance rather than men. Thus this study will explore factors involving gender differences that impact on citizen participation at the local level. Applying qualitative approach, mainly in-depth interview, this study explores four diverse perspectives on enhancing citizen participation for both women and men at the local governance including civic knowledge; the trust of citizens; suitable policies of local government; and the role of NGOs. Furthermore, this study also points out two crucial reasons that are leading to the gender differences of citizen participation at the local level. Firstly, because Vietnamese women play the main role in family financial management; then they are willing to highly contribute to ‘voluntary contributions’; one of the four sub-dimensions of the concept ‘citizen participation’ of PAPI. Secondly, in Vietnam, women are deeply prone to be interested in the small issues at the local governance; whereas men are much keen on the bigger issues at national and international governance.

Keywords: citizen participation, gender, women, local governance, PAPI, Vietnam

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Authors: Sahara Piang Brahim

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This paper looks at the current state of water governance in the Philippines. It is mainly descriptive and relies on an analysis of secondary data gathered during the author’s fieldwork as well as those found in available scholarly literature, legal and government policy documents, reports and publicly available information on the official websites of government agencies and departments. This paper finds that despite the Philippines having relatively abundant water resources due to its topographical characteristics, it is facing a number of water-related problems, including the availability of water supply in light of growing water demand, increasing population and urbanization as well as climate change. Another key finding is that the sheer number of agencies, which have overlapping legal mandates and functions in relation to water governance and management, make coordination, planning and data collection difficult especially since they are neither vertically nor horizontally integrated. These findings have obvious implications for water policy and governance in the country. This study also finds that 'predict and control' characterizes the government’s approach to water resources management and allocation. This paper argues that taking such an approach and the existing institutional context into account is quite relevant not only in terms of making sense of how decision-making and policymaking take place but also when contemplating the kinds of alternative governance arrangements that could address water-related issues and challenges and that might work 'best' in the Philippines.

Keywords: Philippines, water governance, water issues, water policy

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Authors: Rahma Al Balushi

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Oman Electricity Transmission Company's (OETC) vision is to be a renowned world-class transmission grid by 2025, and one of the indications of achieving the vision is obtaining Asset Management ISO55001 certification, which required setting out a documented Standard Operating Procedures (SOP). Hence, documented SOP for the Geographical information system data process has been established. Also, to effectively manage and improve OETC power transmission, asset data and information need to be governed as such by Asset Information & GIS dept. This paper will describe in detail the GIS data submission process and the journey to develop the current process. The methodology used to develop the process is based on three main pillars, which are system and end-user requirements, Risk evaluation, data availability, and accuracy. The output of this paper shows the dramatic change in the used process, which results subsequently in more efficient, accurate, updated data. Furthermore, due to this process, GIS has been and is ready to be integrated with other systems as well as the source of data for all OETC users. Some decisions related to issuing No objection certificates (NOC) and scheduling asset maintenance plans in Computerized Maintenance Management System (CMMS) have been made consequently upon GIS data availability. On the Other hand, defining agreed and documented procedures for data collection, data systems update, data release/reporting, and data alterations salso aided to reduce the missing attributes of GIS transmission data. A considerable difference in Geodatabase (GDB) completeness percentage was observed between the year 2017 and the year 2021. Overall, concluding that by governance, asset information & GIS department can control GIS data process; collect, properly record, and manage asset data and information within OETC network. This control extends to other applications and systems integrated with/related to GIS systems.

Keywords: asset management ISO55001, standard procedures process, governance, geodatabase, NOC, CMMS

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Authors: Aylin Mohammadalipour Tofighi

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Marine-based geoengineering methods, proposed to mitigate climate change, operate primarily through two mechanisms: reducing atmospheric carbon dioxide levels and diminishing solar absorption by the oceans. While these approaches promise beneficial outcomes, they are fraught with environmental, legal, ethical, and political challenges, necessitating robust international governance. This paper underscores the critical role of international cooperation within the governance framework, offering a focused analysis of existing international environmental mechanisms applicable to marine-based geoengineering governance. It evaluates the efficacy and limitations of current international legal structures, including treaties and organizations, in managing marine-based geoengineering, noting significant gaps such as the absence of specific regulations, dedicated international entities, and explicit governance mechanisms such as monitoring. To rectify these problems, the paper advocates for concrete steps to bolster international cooperation. These include the formulation of dedicated marine-based geoengineering guidelines within international agreements, the establishment of specialized supervisory entities, and the promotion of transparent, global consensus-building. These recommendations aim to foster governance that is environmentally sustainable, ethically sound, and politically feasible, thereby enhancing knowledge exchange, spurring innovation, and advancing the development of marine-based geoengineering approaches. This study emphasizes the importance of collaborative approaches in managing the complexities of marine-based geoengineering, contributing significantly to the discourse on international environmental governance in the face of rapid climate and technological changes.

Keywords: climate change, environmental law, international cooperation, international governance, international law, marine-based geoengineering, marine law, regulatory frameworks

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Authors: Maharani Yulisti, Amin Mugera, James Fogarty

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Food safety standards have received significant attention in the fisheries global market due to health issues, free trade agreements, and increasing aquaculture production. Vertical coordination throughout the supply chain of fish producing and exporting countries is needed to meet food safety demands imposed by importing countries. However, the complexities of the supply chain governance structures and difficulties in standard implementation can generate safety uncertainty and high transaction costs. Using a Transaction Cost Economics framework, this paper examines the alignment between food safety standards and the governance structures in the shrimp supply chain in Indonesia. We find the supply chain is organized closer to the hierarchy-like governance structure where private standard (organic standard) are implemented and more towards a market-like governance structure where public standard (IndoGAP certification) are more prevalent. To verify the statements, two cases are examined from Sidoarjo district as a centre of shrimp production in Indonesia. The results show that public baseline FSS (Food Safety Standards) need additional mechanism to achieve a coordinated chain-wide response because uncertainty, asset specificity, and performance measurement problems are high in this chain. Organic standard as private chain-wide FSS is more efficient because it has been achieved by hierarchical-like type of governance structure.

Keywords: governance structure, shrimp value chain, food safety standards, transaction costs economics

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Authors: Ruchi Agarwal

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In today’s world, companies are operating in dynamic, uncertain and ambiguous business environments. Globally, more companies are failing due to Environmental, Social and Governance (ESG) factors than ever. Corporate governance and risk management are intertwined in nature. For decades, corporate governance and risk management have been influenced by internal and external factors. Three schools of thought have influenced risk governance for decades: Agency theory, Contingency theory, and Institutional theory. Agency theory argues that agents have interests conflicting with principal interests and the information problem. Contingency theory suggests that risk management adoption is influenced by internal and external factors, while Institutional theory suggests that organizations legitimize risk management with regulators, competitors, and professional bodies. The conflicting objectives of theories have created problems for executives in organizations in the adoption of Risk Governance. So far, there are many studies that discussed risk culture and the role of actors in risk governance, but there are rare studies discussing the role of risk culture in the adoption of risk governance from a leadership style perspective. This study explores the adoption of risk governance in two contrasting industries, such as the Insurance and energy business, to understand whether risk governance is influenced by internal/external factors or whether risk culture is influenced by leaders. We draw empirical evidence by comparing the cases of an Indian insurance company and a renewable energy-based firm in India. We interviewed more than 20 senior executives of companies and collected annual reports, risk management policies, and more than 10 PPTs and other reports from 2017 to 2024. We visited the company for follow-up questions several times. The findings of my research revealed that both companies have used risk governance for strategic renewal of the company. Insurance companies use a transactional leadership style based on performance and reward for improving risk, while energy companies use rather symbolic management to make debt restructuring meaningful for stakeholders. Overall, both companies turned from loss-making to profitable ones in a few years. This comparative study highlights the role of different leadership styles in the adoption of risk governance. The study is also distinct as previous research rarely studied risk governance in two contrasting industries in reference to leadership styles.

Keywords: leadership style, corporate governance, risk management, risk culture, strategic renewal

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Authors: Dian Andari

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In several decades, Islamic Banks (IBs) has proliferated internationally. To ensure IBs’ accountability to all stakeholders, a governance system is established. Similar to conventional banks (CBs), IBs create corporate governance system. In addition, IBs have Shari’ah Supervisory Board (SSB) as part of Shari’ah governance formed purposively to ensure IBs innovative operations comply to the Shari’ah. Thus, all boards in IBs must actively participate in good corporate as well as Shari’ah governance. The research will analyze SSB’s performance and quality of disclosure by observing 10 IBs annual report from 2011 to 2015 in Gulf countries. The content analysis will be done to see the relationship between SSB’s performance and quality of disclosure in the annual report. The analysis found that event all aspects of disclosure have been meet, financial disclosure still dominates the annual report. This can indicate that the SSB’s focus is on the interest of capital providers.

Keywords: Islamic banks, Shari'ah supervisory board, accountability, quality of disclosure

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Authors: Francisca Anene

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Studies indicate that gender equality and corruption are negatively correlated. This has been attributed to two opposing arguments - 'fairer-sex' and 'fairer-system'. Though there is no agreement on the reason for the correlation, it has been suggested that gender equality can be actively pursued as a means of combating corruption and instituting good governance in countries perceived to be more corrupt. This paper explores the relationship between gender, corruption and good governance in Nigeria. With the aid of secondary empirical data from various sources including Transparency International Corruption Perceptions Index, World Values Survey, World Bank Enterprise Survey and Afrobarometer, a correlation is established between gender and corruption and the causative factors are explored in the Nigerian context. On the basis of the above, the paper demonstrates that though a numerical increase of women in leadership/influence may result in the achievement of gender equality in Nigeria, true equality must go beyond numbers if it is to be used as a means for instituting good governance.

Keywords: corruption, gender equality, good governance, Nigeria

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Authors: Rahma Saleh Hussein Al Balushi

Abstract:

Oman Electricity Transmission Company's (OETC) vision is to be a renowned world-class transmission grid by 2025, and one of the indications of achieving the vision is obtaining Asset Management ISO55001 certification, which required setting out a documented Standard Operating Procedures (SOP). Hence, documented SOP for the Geographical information system data process has been established. Also, to effectively manage and improve OETC power transmission, asset data and information need to be governed as such by Asset Information & GIS department. This paper will describe in detail the current GIS data submission process and the journey for developing it. The methodology used to develop the process is based on three main pillars, which are system and end-user requirements, Risk evaluation, data availability, and accuracy. The output of this paper shows the dramatic change in the used process, which results subsequently in more efficient, accurate, and updated data. Furthermore, due to this process, GIS has been and is ready to be integrated with other systems as well as the source of data for all OETC users. Some decisions related to issuing No objection certificates (NOC) for excavation permits and scheduling asset maintenance plans in Computerized Maintenance Management System (CMMS) have been made consequently upon GIS data availability. On the Other hand, defining agreed and documented procedures for data collection, data systems update, data release/reporting and data alterations has also contributed to reducing the missing attributes and enhance data quality index of GIS transmission data. A considerable difference in Geodatabase (GDB) completeness percentage was observed between the years 2017 and year 2022. Overall, concluding that by governance, asset information & GIS department can control the GIS data process; collect, properly record, and manage asset data and information within the OETC network. This control extends to other applications and systems integrated with/related to GIS systems.

Keywords: asset management ISO55001, standard procedures process, governance, CMMS

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Authors: Busari Moshood Olanyi

Abstract:

Good governance remains the expectation of every political party in power, especially in this democratic dispensation of the Nigerian Nation. The need to ensure that the citizenry enjoys the dividends of democracy as often promised during various electioneering campaigns is envisioned to be the motif for different agendas and political slogans by different administrations. Unfortunately, different political agendas towards the security of lives and properties, halting the pillage of the economy by corrupt public officials and creation of employment opportunities for the youths, have a record of setback in the history of political leadership and governance in Nigeria. Therefore, the paper examined the principles of Islamic theocracy in its advocacy for a paradigm shift in the Nigerian political system, with a view to engendering good governance. Islamic political terms such as Shūrā (mutual consultation), ‘Adālah (equality and justice), Khilāfah (succession and stewardship) Majlis ash-Shūrā (consultative forum) and Muḥāsabah (accountability) were espoused as sacrosanct to implementing Islamic theocracy as an alternative system of government in Nigeria. The paper concluded by being flexible on the nomenclature of the suggested political system, considering the multi-religious nature of the country as a political entity. Among other recommendations, infusion of politics into our moral/religious system and not the other way round was considered a good step in the direction of a political paradigm shift for ensuring good governance and guaranteeing its sustainability in Nigeria.

Keywords: Nigerian nation, democracy, good governance, Islamic theocracy, paradigm shift

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Authors: Endalew Jibat, Feyera Senbeta, Tesfaye Zeleke, Fitsum Hagos

Abstract:

Water governance considers multi-sector participation beyond the state; and for sustainable use of water resources, appropriate laws, policies, regulations, and institutions needs to be developed and put in place. Water policy, a critical and integral instrument of water governance, guided water use schemes and ensures equitable water distribution among users. The Ethiopian Central Rift Valley (CRV) is wealthy of water resources, but these water resources are currently under severe strain owing to an imbalance in human-water interactions. The main aim of the study was to examine the state of water resources governance in the CRV of Ethiopia, and the impact of the Ethiopian Water Resources Management Policy on water governance. Key informant interviews (KII), focused group discussions, and document reviews were used to gather data for the study. The NVivo 11 program was used to organize, code, and analyze the data. The results revealed that water resources governance practices such as water allocation and apportionment, comprehensive and integrated water management plans, water resources protection, and conservation activities were rarely implemented. Water resources management policy mechanisms were not fully put in place. Lack of coherence in water policy implementation, absence of clear roles and responsibilities of stakeholders, absence of transparency and accountability in irrigation water service delivery, and lack of meaningful participation of key actors in water governance decision-making were the primary shortcomings observed. Factors such as over-abstraction, deterioration of buffer zone, and chemical erosion from surrounding farming have contributed to the reduction in water volume and quality in the CRV. These challenges have influenced aquatic ecosystem services and threaten the livelihoods of the surrounding communities. Hence, reforms relating to policy coherence and enforcement, stakeholder involvement, water distribution strategies, and the application of water governance principles must be given more emphasis.

Keywords: water resources, irrigation, governance, water allocation, governance principles, stakeholders engagement, central rift valley

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Authors: Xiujuan Qiao

Abstract:

Cities worldwide are increasingly adopting sustainable stormwater solutions such as using green infrastructure to mitigate challenges related to stormwater, e.g., pluvial flooding, and stormwater pollution. Barriers caused by governance factors have been identified as the main reason for the slow pace of sustainable stormwater management implementation. In this study, we examined governance factors influencing local implementation in four case cities: Lund and Malmö, Sweden, and Xi’xian New Area and Zhenjiang, China. Based on systems thinking of interrelations between previously identified influencing governance factors in sustainable stormwater management (SSM), we developed a causal loop diagram (SSM-CLD) and used it to analyze 23 semi-structured interviews with local government officers in the four case cities. Based on the results, we created one SSM-CLD for each country and analyzed the main differences between these four SSM-CLDs. The results revealed that differences in governance structures can lead to differences in the influencing governance factors. In top-down political systems, e.g., China, the role of national policy in setting local leaders’ priorities is significant for SSM implementation. In political systems with more power devolved to local governments, e.g., Sweden, public awareness and local government politicians’ priorities are important for SSM implementation. Acquiring funding for long-term maintenance was identified as a challenge in all four cities studied. These results are relevant for policymakers, local government departments, consultancy companies, and researchers seeking a better understanding of how governance factors influence sustainable stormwater management.

Keywords: sustainable stormwater management, causal loop diagram, governance structures, local government priorities, public awareness, maintenance

Procedia PDF Downloads 244