Search results for: affective governance

Authors: Yuanyi (Richard) Fang

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Under the theory of La Porta, Lopez-de-Silanes, Shleifer, and Vishny, if a country can increase its legal protections for minority shareholders, the country can develop an ideal securities market that only arises under the dispersed ownership corporate governance. However, the path-dependence scholarship, such as Lucian Arye Bebchuk and Mark J. Roe, presented a different view with LLS&V. They pointed out that the initial framework of the ownership structure and traditional culture will prevent the change of the corporate governance structure through legal reform. This paper contends that traditional culture factors as an important aspect when forming the corporate governance structure. However, it is not impossible for the government to change its traditional corporate governance structure and traditional culture because the culture does not remain intact. Culture evolves with time. The occurrence of the important events will affect the people’s psychological process. The psychological process affects the evolution of culture. The new cultural norms can help defeat the force of the traditional culture and the resistance from the initial corporate ownership structure. Using Taiwan as an example, through analyzing the historical background, related corporate rules and the reactions of adoption new rules from the media, this paper try to show that Taiwan’s culture norms do not remain intact and have changed with time. It further provides that the culture is not always the hurdle for the adoption of the dispersed ownership corporate governance structure as the culture can change. A new culture can provide strong support for the adoption of the new corporate governance structure.

Keywords: LLS&V theory, corporate governance, culture, path–dependent theory

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Authors: Torkan Jabbariraad

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This study explores the role of private regulation as a mode of governance that engages non-state actors in establishing and implementing rules or standards for public goods or services. It examines the various forms, functions, and effects of private regulation on the rule of law and human rights and considers the role and duties of public authorities in monitoring and supporting private regulation. It contends that private regulation should be regarded as a beneficial supplement to public regulation rather than a substitute or rival and that public authorities should find a balance between acknowledging the independence and variety of private actors and securing their accountability and legitimacy. It also recommends that applying the principles and values of good governance to private regulation can improve its quality and efficiency. The study relies on various sources and viewpoints from the literature on governance theory, public law, and human rights and suggests further research and discussion on the topic of private regulation and its consequences for society.

Keywords: private regulation, public authority, governance theory, rule of law, human rights

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Authors: Ritika Jain, Rajnish Kumar

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The Department of Public Enterprises had made submissions of Self Evaluation Reports, for the purpose of corporate governance, mandatory for all central government owned enterprises. Despite this, an alarming 40% of the enterprises did not do so. This study examines the impact of external policy tools and internal firm-specific factors on corporate governance of central public sector enterprises (CPSEs). We use a dataset of all manufacturing and non-financial services owned by the central government of India for the year 2010-11. Using probit, ordered logit and Heckman’s sample selection models, the study finds that the probability and quality of corporate governance is positively influenced by the CPSE getting into a Memorandum of Understanding (MoU) with the central government of India, and hence, enjoying more autonomy in terms of day to day operations. Besides these, internal factors, including bigger size and lower debt size contribute significantly to better corporate governance.

Keywords: corporate governance, central public sector enterprises (CPSEs), sample selection, Memorandum of Understanding (MoU), ordered logit, disinvestment

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Authors: Nariman O. Kandil, Ehab K. Abou-Elkheir, Amr M. Kotb

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Effective IT governance guarantees the strategic alignment of IT and business goals, risk mitigation control, and better IT and business performance. This study seeks to examine empirically the extent of IT governance implementation within the firms listed on the Egyptian stock exchange (EGX30) and its determinants. Accordingly, 18 semi-structured interviews face to face, phone, and video-conferencing interviews using various tools (e.g., WebEx, Zoom, and Microsoft Teams) were undertaken at the interviewees’ offices in Egypt between the end of November 2019 and the end of August 2020. Results suggest that there are variances in the extent of IT Governance (ITG) implementation within the firms listed on the Egyptian stock exchange (EGX30), mainly caused by the industry type and internal and external triggers. The results also suggest that the organization size, the type of auditor, the criticality of the industry, the effective processes & KPIs, and the information intensity expertise of the CIO have a significant impact on IT governance implementation within the firms.

Keywords: effective IT governance, Egyptian market, information security, risk controls

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Authors: Vincent Chumbu

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This study examines the impact of decentralization on development and government in Malawi. Decentralization has been a key element in Malawi's attempts to alter its political system since the early 1990s. This study uses both qualitative and quantitative methods to look into how well devolution promotes local development, improves service delivery, and supports effective governance. The findings suggest that while devolution has resulted in particular improvements in local government or service provision, significant challenges persist. Limited financial decentralization, inadequate local competency, and governmental meddling in local decision-making processes are some of these difficulties. The paper concludes with recommendations for strengthening Malawi's decentralization initiatives to better promote good governance and sustainable development.

Keywords: governance, development, malawi, local government

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Authors: Samir Srairi

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This paper investigates the impact of the internal corporate governance on bank performance by constructing a corporate governance index (CGI) for 27 Islamic banks operating in five Arab Gulf countries. Using content analysis on the banks’ annual reports for 3 years (2011-2013), the index construction uses information on six important corporate governance mechanisms, namely board structure, risk management, transparency and disclosure, audit committee, Sharia supervisory board and investment account holders. The results demonstrate that Islamic banks adhere to 54% of the attributes addressed in the CGI. The most frequently reported and disclosed elements are Sharia supervisory board followed by board structure and risk management. The findings related to countries revealed that only two countries, the United Arab Emirates and Bahrain, possess a higher level of CGI. Our regression results provide evidence that Islamic banks with higher levels of corporate governance report high operating performance measured by return on assets and net interest margin. Finally, as of the effect of internal and external factors, we identified four variables that were associated with bank performance, namely size, equity, risk and concentration.

Keywords: governance mechanisms, corporate governance index, bank performance, Islamic banks, GCC countries

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Authors: Arjun S.

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This study examines the impact of corporate governance on financial performance of Indian banks during five years (from 2010 to 2015). Based on 218 observations, a quantitative method of data analysis was employed to investigate the relevance of corporate governance mechanisms. The first finding reveals a significant and negative impact of board size on the performance of Indian banks. The research also finds a significant and negative relationship between CEO duality and bank performance. Finally, the correlation results reveal that there is a significant and negative correlation of Bank size and bank performance.

Keywords: Indian banks, financial performance, corporate governance, banksize

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Authors: Ernest Nweke

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The work of Professional Accountants and Corporate governance are synonymous and cannot be divorced from each other. Organizations, profit and non-profit alike cannot implement sound corporate practices without inputs from Professional Accountants. In today’s dynamic corporate world, good corporate governance practice is a sine qua non. More so, following the corporate failures of the past decades like Enron and WorldCom, governments around the world, including Mongolia are becoming more proactive in ensuring sound corporate governance mechanisms. In the past fifteen years, the Mongolian government has taken several measures to establish and strengthen internal corporate governance structures in firms. This paper highlights the role of professional accountants and auditors play in ensuring that good corporate governance mechanisms are entrenched in listed companies in Mongolia. Both primary and secondary data are utilized in this research. In collection of primary data, Delphi method was used, securing responses from only knowledgeable senior employees, top managers, and some CEOs. Using this method, a total of 107 top-level company employees and executives randomly selected from 22 companies were surveyed; maximum of 5 and minimum of 4 from each company. These companies cut across several sectors. It was concluded that Professional Accountants play key roles in setting and maintaining firm governance. They do this by ensuring full compliance with all the requirements of good and sound corporate governance, establishing reporting, monitoring and evaluating standards, assisting in the setting up of proper controls, efficient and effective audit systems, sound fraud risk management and putting in place an overall vision for the enterprise. Companies with effective corporate governance mechanisms are usually strong and fraud-resilient. It was also discovered that companies with big 4 audit firms tend to have better governance structures in Mongolia.

Keywords: accountants, corporate disclosure, corporate failure, corporate governance

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Authors: Ogunwole Cecilia Oluwakemi, Wahid Damilola Olanipekun, Omoyele Olufemi Samuel, Timothy Ayomitunde Aderemi

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The issues relating to corporate governance in both locally and internationally managed firms cannot be overemphasized because the lack of efficient corporate governance could orchestrate serious problems in any organization. Against this backdrop, this study examines the nexus between corporate governance and performance of firms from 2012 to 2020, using the case study of the Nigerian stock exchange. Consequently, data was collected from forty (40) listed firms on the Nigerian Stock Exchange. The study employed a fixed effect technique of estimation to address the objective of the study. It was discovered from the study that the influence of corporate governance components such as gender diversity, board independence and managerial ownership led to a significant positive impact on the performance of the firms under the investigation. In view of the above finding, this study makes the following recommendations for the policymakers in Nigeria that anytime the goal of the policymakers is the improvement of performance of the listed firms in the Nigerian stock exchange, board independence and a balance in the inclusion of male and female among the board of directors should be encouraged in these firms.

Keywords: corporate, governance, firms, performance, Nigeria, stock, exchange

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Authors: Denver E. Severt, Cynthia Mejia

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With a grey wave sweeping across the world and people living longer than ever, more individuals will reside in retirement communities in unprecedented numbers. Enhancing the resident stay within these communities is imperative to reduce past stigmas associated with senior communities. This exploratory quantitative investigation examined interview contents of employees and residents to see if empathy was observed. The results showed the employees across all ranges had a much better grasp of affective empathy, yet with greater experience and age, it was clear that cognitive empathy had to be used with affective empathy in order to gain better trust across the community of residents. Outcomes from the study suggest that future training programs for employees are operationalized to include both affective and cognitive empathy practices. This study is unique in that two scales of empathy were transformed into qualitative questions, and in-depth employee and resident interviews were conducted. The study answers many calls of research to provide more specific studies in senior living communities.

Keywords: senior living community, transformational service research, qualitative research

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Authors: Domagoj Hruska, Drazen Milkovic, Maja Darabos

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This paper empirically investigates the performance of Croatian initial public offerings (IPOs) throughout 20 years period, from 1996 until 2016. By proving the comprehensive evaluation of reasons and consequences of IPO initiatives in Croatia we give analytic evidence on the influence of this corporate action on the development of corporate governance. Furthermore, the paper discusses the relationship between internal and external corporate governance mechanisms in companies that initialize entering the financial markets. The paper will provide a synthesis of evidence of IPO-s in Croatia based on in-depth case studies of 13 cases of IPO-s. The major findings of the paper include identification of reasons for conducting IPO-s and calculation of underpricing effect and change of market capitalization. To the best of the author's knowledge, the results of the paper provide the analytical framework for understanding the impact of IPOs on the corporate governance system in transition countries.

Keywords: corporate governance, Croatia, initial public offering, transition economy

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Authors: Salisu Adamu Abdullahi, Yusuf Abdullahi Manu

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Nigeria returned to a democratically elected government on May 29, 1999. This signaled the beginning of the journey into the Fourth Republic. The return has received popular endorsement by the electorates as the level of enthusiasm was high due to the yearnings and expectations by the electorate that democracy will bring about the much-desired change required by the general mass. As democracy would allow for popular participation through periodic elections and so on. The paper examines democracy, leadership, and challenges of good governance in Nigerias Fourth Republic. It utilizes secondary source of data and content analysis as a methodology. It argues that Nigerias practice of democracy over the years is marred by flagrant abuse of the principles of good governance by the ruling elite. This has posed threats to the survival of democracy due to non-adherence to one of the cardinal principles of democracy which is good governance. The paper recommends among others that the anti-corruption law is amended in such a way that death penalties be issued to those found wanting by the law.

Keywords: democracy, democratic consolidation, challenges, good governance

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Authors: Rurui Liu

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Universities have been one of the most important institutions in society. They shoulder the responsibility to do research and teach further generations. Therefore, the governance of universities has been a heated topic and has been learned for years. Recently, it witnessed great changes, for example, the massification of Higher Education, marketization, and privatization. As a result, more stakeholders are involved in the governance of Higher Education, among which students’ participation in HE becomes more important. However, the research about students’ participation in HE governance in China is not sufficient, and the situation requires improvement. The paper aims to not only fill in the research gap but also put forward practical suggestions to follow the world’s trend of HE governance. The methodology of this paper is literature analysis with comparative studies between China and western countries. The research points out that the current situation of students’ participation in HE governance is unideal due to problems in three fields, values and concepts, mechanisms and systems, as well as student unions. Then, the policy implications are based on these reasons: universities should highlight students’ status, respect their subjectivity and adhere to the service awareness; the government requires to build a sound legal system while universities should establish complete mechanisms and systems; student unions should be encouraged by universities to take part in HE governance affairs with sufficient funds, and autonomy. On the one hand, this paper is a further application of four rationales (consumerism, political-realism, communitarian, democracy, and consequentialism) created by Luescher‐Mamashela for the inevitable trend of students’ participation in HE governance. On the other hand, the suggestions it made benefit the students, universities, and society in practical ways.

Keywords: students’ participation, higher education governance, Chinese higher education, university power

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Authors: Somayeh Bahrami, Seyed Jalal Dehghani Firoozabadi

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Environmental governance is an interdisciplinary concept in political ecology and environmental policy focusing on the necessity of embedding the environmental issues in all levels of decision-making and act of states. Similar to sustainable development the concept of environmental governance believes that economic and political life of societies and countries need to be considered as a subset of the environment. This concept has been accepted by North Countries, those that have done the most irreparable environmental damage since the Industrial Revolution. Although North Countries are more responsible for damage to the environment, considering the global fluidity logic of environmental challenges, such an impression doesn’t cause developing countries to disavow responsibility for regional and international cooperation to protect the environment. Establishing an environmental governance at all levels of local, national, regional and global is one of the most significant ways to improve sustainable development. Given to the various political and economic difficulties developing countries including the Middle East face, building environmental governance in these countries is difficult but feasible, as these difficulties have not impeded their mutual partnership for confronting joint environmental issues. However, the environmental issues wouldn’t be solved only by mutual partnership but by establishing environmental governance, establishing regional environmental institutions (an introduction to building Regional Environmental Governance) and delegation of some environmental authorities to the mentioned institutions. The research is aimed at examining necessities, opportunities, and barriers to establishing Regional Environmental Governance in the Middle East. Therefore, this research seeks to answer the question of whether establishing Regional Environmental Governance is possible in the Middle East and if so then why. This study used descriptive-analytical methods and the inferential methodology has been used to reach the goals. Data has been collected by using library and internet sources as well as news sources on the basis of objective-historical data.

Keywords: environmental democracy (ED), environmental governance (EG), middle east (ME), regional environmental governance (REG)

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Authors: Martin S. Mulyadi

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This research investigates the corporate governance disclosure behavior of Indonesian corporations with type II agency problems. The primary cause of the 1990s Asian financial crisis has been attributed to poor corporate governance practices in Indonesia. Most importantly, these poor practices were commonly found in family-owned and government-owned corporations. There are a lot of publicly listed family-owned and government-owned corporations in Indonesia. Agency theory refers to these corporations as corporations with type II agency problems. This research employs agency theory to analyzes corporate governance practice and disclosures in such settings and found that government-owned corporations perform better than family-owned corporations.

Keywords: corporate governance, corporate disclosures, agency theory, type II agency problems

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Authors: Parisa Toloue Hayat Azar

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Businesses have been playing an important role in the economic growth and social welfare of cities; however, they generally have negative reputations regarding their impact on environmental issues regarding sustainability. However, some believe that by incorporating strategic Corporate Social Responsibility (CSR) activities, businesses will be able to solve problems in society, including environmental ones. Besides economic, social and environmental aspects, governance is another essential pillar for creating sustainable communities and cities. Governance plays a key role in the success of sustainable projects or creating long lasting legacies; an example of this can be creating circular supply chain with collaboration between different businesses, which in the end results in positive economic, social and environmental outcomes for everyone. Governance is a very important parameter in creating the legacy of low carbon and environmentally friendly city due to the fact that, besides building energy efficient buildings and infrastructure, citizens who are also part of the success of this system should know about how to behave and collaborate with others to make the system work. By deploying the philosophy of cultural historical activity theory, this paper explains how influential businesses have been and can be still used as a mediating tool for governance purposes, and succeed in creating shared value and lasting legacy within society.

Keywords: business, governance, CSR, sustainability

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Authors: Sonny Nyeko, Moses Niwe

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Purpose: This research paper examined the mediation effect of organization culture in the relationship between information technology (IT) competence and IT governance effectiveness in Ugandan public universities. The purpose of the research paper is to examine the role of organizational culture in the relationship between IT competence and IT governance effectiveness. Design/methodology/approach: The paper adopted the MedGraph program, Sobel tests and Kenny and Baron Approach for testing the mediation effects. Findings: It is impeccable that IT competence and organization culture are true drivers of IT governance effectiveness in Ugandan public universities. However, organizational culture reveals partial mediation in the IT competence and IT governance effectiveness relationship. Research limitations/implications: The empirical investigation in this research depends profoundly on public universities. Future research in Ugandan private universities could be undertaken to compare results. Practical implications: To effectively achieve IT governance effectiveness, it means senior management requires IT knowledge which is a vital ingredient of IT competence. Moreover, organizations today ought to adopt cultures that are intended to have them competitive in their businesses, with IT operations not in isolation. Originality/value: Spending thousands of dollars on IT resources in advanced institutes of learning necessitates IT control. Preliminary studies in Ugandan public universities have revealed the ineffective utilization of IT resources. Besides, IT governance issues with IT competence and organization culture remain outstanding. Thus, it’s a new study testing the mediating outcome of organization culture in the association between IT competence and IT governance effectiveness in the Ugandan universities.

Keywords: organization culture, IT competence, IT governance, effectiveness, mediating effect, universities, Uganda

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Authors: Talha Sareshwala

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The purpose of this research paper is to help entrepreneurs build an environment of trust, transparency and accountability necessary for fostering long term investment, financial stability and business integrity and to guide future Entrepreneurs into a promising future. The study presents a broader review on Corporate Governance, starting from its definition and antecedents. This is the most important aspect of ethical business. In fact, the 3 main pillars of corporate governance are: Transparency; Accountability; Security. The combination of these 3 pillars in running a company successfully and forming solid professional relationships among its stakeholders, which includes key managerial employees and, most important, the shareholders This paper is sharing an experience how an entrepreneur can act as a catalyst while ensuring them that ethics and transparency do pay in business when followed in true spirit and action.

Keywords: business, entrepreneur, ethics, governance, transparency.

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Authors: Frederick M. Dumisani Xaba, Nokuthula G. Khanyile

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There is a growing demand for greater accountability, transparency and ethical conduct based on sound governance principles in the developing world. Funders, donors and sponsors are increasingly demanding more transparency, better value for money and adherence to good governance standards. The drive towards improved governance measures is largely influenced by the need to ‘plug the leaks’, deal with malfeasance, engender greater levels of accountability and good governance and to ultimately attract further funding or investment. This is the case with the Non-Profit Organizations (NPOs) in South Africa in general, and in the province of KwaZulu-Natal in particular. The paper draws from the good governance theory, stakeholder theory and systems thinking to critically examine the requirements for good governance for the NPO sector from a theoretical and legislative point and to systematically looks at the contours of governance currently among the NPOs. The paper did this through the rigorous examination of the vignettes of cases of governance among selected NPOs based in KwaZulu-Natal. The study used qualitative and quantitative research methodologies through document analysis, literature review, semi-structured interviews, focus groups and statistical analysis from the various primary and secondary sources. It found some good cases of good governance but also found frightening levels of poor governance. There was an exponential growth of NPOs registered during the period under review, equally so there was an increase in cases of non-compliance to good governance practices. NPOs operate in an increasingly complex environment. There is contestation for influence and access to resources. Stakeholder management is poorly conceptualized and executed. Recognizing that the NPO sector operates in an environment characterized by complexity, constant changes, unpredictability, contestation, diversity and divergent views of different stakeholders, there is a need to apply legislative and systems thinking approaches to strengthen governance to withstand this turbulence through a capacity development model that recognizes these contextual and environmental challenges.

Keywords: good governance, non-profit organizations, stakeholder theory, systems theory

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Authors: Gladie Lui

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The global credit crisis of 2008 aroused renewed interest in the effectiveness of corporate governance mechanisms to safeguard investor interests. In this paper, we measure the effect of the crisis from 2008 to 2009 on the stock performance of 976 Hong Kong-listed companies and examine its link to corporate governance mechanisms. It is evident that the crisis and the economic downturn affected different industries. Empirical results show that firms with an independent board and a high concentration of ownership and management ownership had lower abnormal stock returns, but a lower price volatility during the global financial crisis. These results highlight that no single corporate governance mechanism is fit for all types of financial crises and time frames. To strengthen investors’ confidence in the ability of companies to deal with such swift financial catastrophes, companies should enhance the dynamism and responsiveness of their governance mechanisms in times of turbulence.

Keywords: board of directors, capital market, corporate governance, financial crisis

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Authors: Luciana Brandao Ferreira, Janaina de Moura Engracia Giraldi, Fabiana Gondim Mariutti, Marina Toledo de Arruda Lourencao

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Developing countries, such as BRICS (Brazil, Russia, India, China and South Africa) are hosting sports mega-events to promote socio-economic development and image enhancement. Thus, this paper aims to verify the image of Rio de Janeiro, in Brazil, as the host city of 2016 Olympic Games, considering the main cognitive and affective image dimensions. The research design uses exploratory factorial analysis to find the most important factors highlighted in the city image dimensions. The data were collected by structured questionnaires with an international respondents sample (n=274) with high international travel experience. The results show that Rio’s image as a sport mega-event host city has two main factors in each dimension: Cognitive ('General Infrastructure'; 'Services and Attractions') and Affective ('Positive Feelings'; 'Negative Feelings'). The most important factor related to cognitive dimension was 'Services and Attractions' which is more related to tourism activities. In the affective dimension 'Positive Feelings' was the most important factor, which means a good result considering that is a city in an emerging country with many unmet social demands.

Keywords: Rio de Janeiro, 2016 olympic games, host city image, cognitive image dimension, affective image dimension

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Authors: Gyoomi Kim, Jiyoung Bae

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The purpose of this study was to propose a framework that verifies the structural relationships among students’ use of digital English learning strategy (DELS), affective domains, and their individual variables. The study developed a hypothetical model based on previous studies on language learning strategy use as well as digital language learning. The participants were 720 Korean high school students and 430 university students. The instrument was a self-response questionnaire that contained 70 question items based on Oxford’s SILL (Strategy Inventory for Language Learning) as well as the previous studies on language learning strategies in digital learning environment in order to measure DELS and affective domains. The collected data were analyzed through structural equation modeling (SEM). This study used quantitative data analysis procedures: Explanatory factor analysis (EFA) and confirmatory factor analysis (CFA). Firstly, the EFA was conducted in order to verify the hypothetical model; the factor analysis was conducted preferentially to identify the underlying relationships between measured variables of DELS and the affective domain in the EFA process. The hypothetical model was established with six indicators of learning strategies (memory, cognitive, compensation, metacognitive, affective, and social strategies) under the latent variable of the use of DELS. In addition, the model included four indicators (self-confidence, interests, self-regulation, and attitude toward digital learning) under the latent variable of learners’ affective domain. Secondly, the CFA was used to determine the suitability of data and research models, so all data from the present study was used to assess model fits. Lastly, the model also included individual learner factors as covariates and five constructs selected were learners’ gender, the level of English proficiency, the duration of English learning, the period of using digital devices, and previous experience of digital English learning. The results verified from SEM analysis proposed a theoretical model that showed the structural relationships between Korean students’ use of DELS and their affective domains. Therefore, the results of this study help ESL/EFL teachers understand how learners use and develop appropriate learning strategies in digital learning contexts. The pedagogical implication and suggestions for the further study will be also presented.

Keywords: Digital English Learning Strategy, DELS, individual variables, learners' affective domains, Structural Equation Modeling, SEM

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Authors: Tran Van Long

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Beyond trade facilitation, transparency in the WTO legal context is, implicitly and explicitly, aimed at addressing problems in domestic administrative law. Through the lens of global governance, this paper attempts to shed more light on the power of transparency norms enshrined in multilateral trading agreements under the aegis of the WTO. In this global ruled-base system, transparency has become sufficiently powerful to be a multifunctional instrument for promoting rule of law, good governance, and democracy.

Keywords: WTO, transparency, good governance, rule of law, global administrative law.

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Authors: Kepeng Li

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This paper examines the phenomenon of recidivism in the Chinese stock market, emphasizing the significance of mitigating repeat offences within the corporate domain. Using a contingency model and data from Chinese publicly listed companies (1999-2018), the study investigates the impact of underperformance, governance factors, and managerial traits on unethical conduct. The research suggests that persistently unmet economic objectives can foster problem-focused exploration, potentially leading to misconduct. Furthermore, the study considers the unique cultural context of China, where “guanxi” and corruption may influence corporate behavior. It concludes that governance mechanisms play a pivotal role in regulating corporate behavior, underscoring the necessity for enhanced oversight and enforcement of corporate governance standards.

Keywords: recidivism, corporate misbehavior, BTOF, aspiration level, corporate governance, individual characteristics

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Authors: Vephkhvia Grigalashvili

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This paper provides an overview of criteria for good governance in Georgian defense sector and scientific outcomes of comparative research. A respect for good governance and its realization into Georgian national defense sector represents a fundamental institutional necessity as well as country`s politico-legal obligation within the framework of the existing collaboration mechanisms with NATO (especially Building Integrity (BI) Programme) and the Association Agreement between the EU and Georgia. Furthermore good governance is considered as a democracy measuring criterion in country`s Euro-Atlantic integration process. Accordingly, integration and further development of the contemporary approaches of good governance into Georgian defense management model represents a burning issue of the country. The assessment of an existing model of the country, identification of defects and determination of course of institutional reforms in a mutual comparison format of good governance mechanisms of NATO or/and the EU member Eastern European or Baltic countries positively assessed by the international organizations is considered as a precondition for its effective realization. Scientific aims of this study are: (a) to conduct comparative analysis of Georgian national principles and generalized standards of NATO or/and the EU member Eastern European and Baltic countries in following segments of good governance: open governance; anticorruption policy; conflict of interests; integrity; internal and external control bodies; (b) to formulate theoretical and practical recommendations on reforms to be implemented in the country`s national defence sector. As research reveals, although, institutional / legal pillars of good governance in Georgian defense sector generally are in compliance with international principles, the quality of implementation of good government norms still remains as an area that needs further development by raising awareness of public servants and community.

Keywords: anti-corruption policy within Georgian defense governance, conflict of interests within Georgian defense governance, good governance in Georgian defense sector, principles of integrity in Georgian defense management

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Authors: Roohollah Jamshidpour, Elaheh Ahmadi, Farhad Shah Veisi

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Present research seeks to answer this question: Is there any relationship between corporate governance mechanisms and decision on corporate investments? Percentages of institutional, board of director’s, and stockholder’s ownership are among internal mechanisms of corporate governance relationship of which with investment-based decisions are studied by this research. Information on 103 companies during 1388 (2009)- 1393 (2014). Initially, research variables are identified; next, Rah Avard-e Novin software is used to gather Information. SPSS software is employed to test hypotheses with respect to descriptive and inferential statistics like correlation analysis. Research results show that percentage of institutional stockholders’ ownership has a significant direct relationship with investment decisions. For other cases, no significant relationship is observed between corporate governance mechanisms and investment decisions.

Keywords: corporate governance, company size, free floating stock, institutional investors, major shareholders

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Authors: Tiantian Gu, Dezhi Li, Mian Zhang, Ying Jiang

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Considering the characteristics of residents’ participation in the governance of old community renewal (OCR), a theoretical model of the determinant of residents’ intention to participate in the governance of OCR has been built based on the theory of planned behavior. Seven old communities in Nanjing have been chosen as cases to conduct empirical analysis. The result indicates that participation attitude, subjective norm and perceived behavioral control have significant positive effects on residents’ intention to participate in the governance of the OCR. Recognition of the community, cognition of the OCR and perceived behavioral control have indirect positive effects on residents’ intention to participate in the OCR. In addition, the education level and the length of residence have positive effects on their participation intention, while the gender, age, and monthly income have little effect on it. The research result provides suggestions for the improvement of residents’ participation in the OCR.

Keywords: old community renewal, residents’ participation in governance, intention, theory of planned behavior

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Authors: Meseret Teshome

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This study has the objective of assessing the effect of kaizen (5S, Muda elimination and Quality Control Circle (QCC) on employees’ affective attitude (job satisfaction, commitment and job stress) in Kombolcha Textile Share Company. A conceptual model was developed to describe the relationship between Kaizen and Employees’ Affective Attitude (EAA) factors. The three factors of Employee Affective Attitude were measured using questionnaire derived from other validated questionnaire. In the data collection to conduct this study; questionnaire, unstructured interview, written documents and direct observations are used. To analyze the data, SPSS and Microsoft Excel were used. In addition, the internal consistency of similar items in the questionnaire instrument was measured for their equivalence by using the cronbach’s alpha test. In this study, the effect of 5S, Muda elimination and QCC on job satisfaction, commitment and job stress in Kombolcha Textile Share Company is assessed and factors that reduce employees’ job satisfaction with respect to kaizen implementation are identified. The total averages of means from the questionnaire are 3.1 for job satisfaction, 4.31 for job commitment and 4.2 for job stress. And results from interview and secondary data show that kaizen implementation have effect on EAA. In general, based on the thesis results it was concluded that kaizen (5S, muda elimination and QCC) have positive effect for improving EAA factors at KTSC. Finally, recommendations for improvement are given based on the results.

Keywords: kaizen, job satisfaction, job commitment, job stress

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Authors: Osama Shibani

Abstract:

Corporate governance effective is critical to the proper functioning of the banking sector and the economy as a whole, the Basel Committee have issued principles of corporate governance inspired from Organisation for Economic Co-operation and Development (OECD), but there is no single model of corporate governance that can work well in every country; each country, or even each organization should develop its own model that can cater for its specific needs and objectives, the corporate governance in Islamic Institutions is unique and offers a particular structure and guided by a control body which is Shariah supervisory Board (SSB), for this reason Islamic Financial Services Board in Malaysia (IFSB) has amended BCBS corporate governance principles commensurate with Islamic financial Institutions to suit the nature of the work of Islamic institutions, this paper highlight these amended by using comparative analysis method in context of the differences of corporate governance structure of Islamic banks and conventional banks. We find few different between principles (Principle 1: The Board's overall responsibilities, Principles 3: Board’s own structure and practices, Principles 9: Compliance, Principle 10: Internal audit, Principle 12: Disclosure and transparency) and there are similarities between principles (Principle 2: Board qualifications and composition, Principles 4: Senior Management (composition and tasks), Principle 6: Risk Management and Principle 8: Risk communication). Finally, we found that corporate governance principles issued by Islamic Financial Services Board (IFSB) are complemented to CG principles of Basel Committee on Banking Supervision (BCBS) with some modifications to suit the composition of Islamic banks, there are deficiencies in the interest of the Basel Committee to Islamic banks.

Keywords: basel committee (BCBS), corporate governance principles, Islamic financial services board (IFSB), agency theory

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Authors: Giga Phartenadze

Abstract:

In the legal framework of regulation of electronic governance, those norms are considered which include measures for improvement of functions of public institutions and a complex of actions for raising their standard such as websites of public institutions, online services, some forms of internet interactions and higher level of internet services. An important legal basis for electronic governance in Georgia is Georgian Law about Electronic Communications which defines legal and economic basis for utilizing electronic communication systems in Georgia. As for single electronic basis for e-governance regulation, it can be said that it does not exist at all. The official websites of public institutions do not have standards for proactive spreading of information. At the same time, there is no common legal norm which would make all public institutions have an official website for public relations, accountability, publicity, and raising information quality. Electronic governance in Georgia needs comprehensive legal regulation. Public administration in electronic form is on the initial stage of development. Currently existing legal basis has a low quality for public institutions and officials as well as citizens and business. Services of e-involvement and e-consultation have also low quality. So far there is no established legal framework for e-governance. Therefore, a single legislative system of e-governance should be created which will help develop effective, comprehensive and multi component electronic systems in the country (central, regional, local levels). Such comprehensive legal framework will provide relevant technological, institutional, and informational conditions.

Keywords: law, e-government, public administration, Georgia

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