Search results for: anti-corruption policy within Georgian defense governance

Authors: Djehich Mohamed Yousri

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In this paper, we explore the extent to which states seek to promote regional foreign policy. More specifically, the analytical feasibility is to find out exactly what countries seek to export, and how they have used their relations and foreign policies to enhance cooperation with other countries. The first part discusses the development of regional interests and theoretical approaches that attempted to explain the push for regionalism in the field of foreign policy. The second part of the paper presents the motives and mechanisms through which states spread the idea of regionalism in making foreign policy. Finally, we assess the implications of regionalism for the nature and practice of foreign policy, particularly with regard to the gains or constraints to which various actors are exposed in their regional endeavors. We conclude with some considerations that indicate that strengthening regionalism has become an additional and real program in the field of foreign policy analysis.

Keywords: foreign policy, collective foreign policy, regionalization and foreign policy, regional foreign policy, foreign affairs

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Authors: Gatot Dwi Hendro, Hayyan ul Haq

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This work aims to explore the strategy in embodying the ecological validity in creating the sustainability of public policy, particularly in strengthening the green economy in Indonesia. This green economy plays an important role in supporting the national development in Indonesia, as it is a part of the national policy that posits the primary priority in Indonesian governance. The green economy refers to the national development covering strategic natural resources, such as mining, gold, oil, coal, forest, water, marine, and the other supporting infrastructure for products and distribution, such as fabrics, roads, bridges, and so forth. Thus, all activities in those national development should consider the sustainability. This sustainability requires the strong commitment of the national and regional government, as well as the local governments to put the ecology as the main requirement for issuing any policy, such as licence in mining production, and developing and building new production and supporting infrastructures for optimising the national resources. For that reason this work will focus on the strategy how to embody the ecological values and norms in the public policy. In detail, this work will offer the method, i.e. legal techniques, in visualising and embodying the norms and public policy that valid ecologically. This ecological validity is required in order to maintain and sustain our collective life.

Keywords: ecological validity, sustainable development, coherence, Indonesian Pancasila values, environment, marine

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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: T. Davitashvili

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At present impact of global climate change on the territory of Georgia is evident at least on the background of the Caucasus glaciers melting which during the last century have decreased to half their size. Glaciers are early indicators of ongoing global and regional climate change. Knowledge of the Caucasus glaciers fluctuation (melting) is an extremely necessary tool for planning hydro-electric stations and water reservoir, for development tourism and agriculture, for provision of population with drinking water and for prediction of water supplies in more arid regions of Georgia. Otherwise, the activity of anthropogenic factors has resulted in decreasing of the mowing, arable, unused lands, water resources, shrubs and forests, owing to increasing the production and building. Transformation of one type structural unit into another one has resulted in local climate change and its directly or indirectly impacts on different components of water resources on the territory of Georgia. In the present paper, some hydrological specifications of Georgian water resources and its potential pollutants on the background of regional climate change are presented. Some results of Georgian’s glaciers pollution and its melting process are given. The possibility of surface and subsurface water pollution owing to accidents at oil pipelines or railway routes are discussed. The specific properties of regional climate warming process in the eastern Georgia are studied by statistical methods. The effect of the eastern Georgian climate change upon water resources is investigated.

Keywords: climate, droughts, pollution, water resources

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Authors: Blessings Masuku

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Background: Considering that Africa is urbanizing faster than any other region globally, managing cities in the global South has become the centerpiece for the New Urban Agenda (i.e., a shared vision of how we rethink, rebuild, and manage our cities for a better and more sustainable future). This study is centered on governance and planning of urban informality practices with particular reference to the relationship between the state, informal actors (e.g., informal traders and informal dwellers), and other city stakeholders who are public space users (commuters, businesses, and environmental activists), and how informal actors organize themselves to lobby the state and claim for their rights in the city, and how they navigate their everyday livelihood strategies. Aim: The purpose of this study is to examine and interrogate contemporary approaches, policy and regulatory frameworks to urban spatial planning and management of informality in one of South Africa’s busiest and major cities, Johannesburg. Setting: The study uses the metropolitan region of the city of Johannesburg, South Africa to understand how this contemporary industrial city manages urban informality practices, including the use of public space, land zoning and street life, and paying a closer look at what progress has been made and gaps in their inclusive urban policy frameworks. Methods: This study utilized a qualitative approach that includes surveys (open-ended questions), archival research (i., e policy and other key document reviews), and key interviews mainly with city officials, and informality actors. A thematic analysis was used to analyze the data collected. Contribution: This study contributes to large urban informality scholarship in the global South cities by exploring how major cities particularly in Africa regulate and manage informality patterns and practices in their quest to build “utopian” smart cities. This study also brings a different perspective on the hacking ways used by the informal actors to resist harsh regulations and remain invisible in the city, which is something that previous literature has barely delved in-depth.

Keywords: inclusive planning and governance, infrastructure systems, livelihood strategies urban informality, urban space

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Authors: Shikha Masand, Sudesh Kumar Yadav

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Certain protein kinases have been shown to be crucial for plant cell signaling pathways associated with plant immune responses. Here we identified a horsegram [Macrotyloma uniflorum (Lam.) Verdc.] malectin-like leucine rich receptor-like protein kinase (RLK) gene MuRLK. The functional MuRLK protein preferentially binds to mannose and N-acetyl glucosamine residues. MuRLK exists in the cytoplasm and also localizes to the plasma membrane of plant cells via its N-terminus. Over-expression of MuRLK in Arabidopsis enhances the basal resistance to infection with Pseudomonas syringae pv. tomato, Alternaria brassicicola and Hyaloperonospora arabidopsidis, are associated with elevated ROS bursts, MAPK activation, thus ultimately leading to hypersensitive cell death. Moreover, salicylic acid-dependent and jasmonic acid-dependent defense responses are also enhanced in the MuRLK-overexpressed plants that lead to HR-induced cell death. Together, these results suggest that MuRLK plays a key role in the regulation of plant cell death, early and late defense responses after the recognition of microbial pathogens.

Keywords: horsegram, Pseudomonas syringae pv. tomato, MuRLK, ROS burst, cell death, plant defense

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Authors: Shangjun Zou, Zhiyuan Wang, Songhui You

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Introduction In recent years, the Chinese government has issued several policies to promote the institutional reform and innovation of the development of campus football, but many problems have been exposed in the process of policy implementation. Therefore, this paper attempts to conduct an empirical analysis of the campus football policy texts to reveal the dynamic development of the microsystem in the process of policy evolution. Methods The selected policy contents are coded by constructing a two-dimensional analysis framework of campus football policy tool-policy objective. Specifically, the X dimension consists of three oriented policy tools: environment, supply and demand, while the Y dimension is divided into six aspects of policy objectives, including institution, competition, player teaching, coach training, resource guarantee and popularization. And the distribution differences of textual analysis units on X and Y dimensions are tested by using SPSS22.0 so as to evaluate the characteristics and development trend of campus football policy on respective subjects. Results 1) In the policy evolution process of campus football stepping into the 2.0 Era, there were no significant differences in the frequency distribution of policy tools(p=0.582) and policy objectives(p=0.603). The collaborative governance of multiple participants has become the primary trend, and the guiding role of Chinese Football Association has gradually become prominent. 2) There were significant differences in the distribution of policy tools before the evolution at a 95% confidence level(p=0.041). With environmental tools always maintaining the dominant position, the overall synergy of policy tools increased slightly. 3) There were significant differences in the distribution of policy objectives after the evolution at a 90% confidence level(p=0.069). The competition system of policy objective has not received enough attention while the construction of institution and resource guarantee system has been strengthened. Conclusion The upgraded version of campus football should adhere to the education concept of health first, promote the coordinated development of youth cultural learning and football skills, and strive to achieve more solid popularization, more scientific institution, more comprehensive resource guarantee and adequate integration. At the same time, it is necessary to strengthen the collaborative allocation of policy tools and reasonable planning of policy objectives so as to promote the high quality and sustainable development of campus football in the New Era. Endnote The policy texts selected in this paper are “Implementation Opinions on Accelerating the Development of Youth Campus Football” and “Action Plans for the Construction of Eight Systems of National Youth Campus Football”, which were promulgated on August 13, 2015 and September 25, 2020 respectively.

Keywords: campus football, content analysis, evolution characteristics, policy objective, policy tool

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Authors: Jiaqi Yan, Yani Shi

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

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

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Authors: Nicole Hiltbrand, Simone Quatrini, Eva Lieberherr

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This research delves into the evolution of natural hazard management policy in Switzerland through the lens of policy integration, a crucial concept for addressing complex, cross-cutting issues like natural hazards. Through a descriptive case study approach focussing on the Canton of Grisons, the research explores how policy integration has evolved between 1870 and 2020 alongside with specific contextual conditions characterizing the complex relation between humans and nature in Alpine areas subject to natural hazards with high damage potential, such as landslides, avalanches and floods. The primary objective of the research is to evaluate the changes in policy integration that can be observed across the study period and discern the key drivers behind these transformations. Employing a mixed-method qualitative approach, the research begins with a semi-systematic literature and document review, examining the legislative context in a historical perspective. Subsequently, policy integration is analysed using an established conceptual framework that distinguishes between four crucial dimensions: policy frames, subsystem involvement, policy goals, and policy instruments. Lastly, expert interviews were conducted to validate and enrich the findings from the analysis. The study reveals a discernible increase in policy integration across all dimensions analysed. Among the drivers of such change, the study highlights key factors that can be categorized as follows: (i) socio-political factors, (ii) advancements in technical and scientific knowledge, (iii) federal legislation and guidelines, as well as (iv) natural events. This study – conducted as part of a Master’s programme in the Department of Environmental Systems Science of the Swiss Federal Institute of Technology (ETH) in Zurich – contributes to policy integration research by offering valuable insights into the evolving landscape of policy integration and the pivotal role played by contextual conditions. By casting light on the interconnectedness between policy evolution and contextual factors, this study offers insightful perspectives on how natural hazard management policy can adapt and respond to dynamic socio-political, technical, and environmental challenges.

Keywords: natural hazard management, policy integration, policy coherence, alpine region

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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: Jumana Majdi Qutub

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Rationale: Cloud computing has rapidly developed the past few years. Because of the importance of providing protection for personal data used in cloud computing, the role of data protection in promoting trust and confidence in users’ data has become an important policy priority. This research examines key regulatory challenges rose by the growing use and importance of cloud computing with focusing on protection of individuals personal data. Methodology: Describing and analyzing governance challenges facing policymakers and industry in Saudi Arabia, with an account of anticipated governance responses. The aim of the research is to describe and define the regulatory challenges on cloud computing for policy making in Saudi Arabia and comparing it with potential complied issues rose in respect of transported data to EU member state. In addition, it discusses information privacy issues. Finally, the research proposes policy recommendation that would resolve concerns surrounds the privacy and effectiveness of clouds computing frameworks for data protection. Results: There are still no clear regulation in Saudi Arabia specialized in legalizing cloud computing and specialty regulations in transferring data internationally and locally. Decision makers need to review the applicable law in Saudi Arabia that protect information in cloud computing. This should be from an international and a local view in order to identify all requirements surrounding this area. It is important to educate cloud computing users about their information value and rights before putting it in the cloud to avoid further legal complications, such as making an educational program to prevent giving personal information to a bank employee. Therefore, with many kinds of cloud computing services, it is important to have it covered by the law in all aspects.

Keywords: cloud computing, cyber crime, data protection, privacy

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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: Ikechukwu Ndu

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This study examines the econometric modeling of the relation between discretionary accrual earnings management, International Financial Reporting Standards (IFRS), and certain corporate governance factors with regard to listed Nigerian non-financial firms. Although discretionary accrual earnings management is a well-known and global problem that has an adverse impact on users of the financial statements, its relationship with IFRS and corporate governance is neither adequately researched nor properly systematically investigated in Nigeria. The dearth of research in the relation between discretionary accrual earnings management, IFRS and corporate governance in Nigeria has made it difficult for academics, practitioners, government setting bodies, regulators and international bodies to achieve a clearer understanding of how discretionary accrual earnings management relates to IFRS and certain corporate governance characteristics. This is the first study to the author’s best knowledge to date that makes interesting research contributions that significantly add to the literature of discretionary accrual earnings management and its relation with corporate governance and IFRS pertaining to the Nigerian context. A comprehensive review is undertaken of the literature of discretionary total accrual earnings management, IFRS, and certain corporate governance characteristics as well as the data, models, methodologies, and different estimators used in the study. Secondary financial statement, IFRS, and corporate governance data are sourced from Bloomberg database and published financial statements of Nigerian non-financial firms for the period 2004 to 2016. The methodology uses both the total and working capital accrual basis. This study has a number of interesting preliminary findings. First, there is a negative relationship between the level of discretionary accrual earnings management and the adoption of IFRS. However, this relationship does not appear to be statistically significant. Second, there is a significant negative relationship between the size of the board of directors and discretionary accrual earnings management. Third, CEO Separation of roles does not constrain earnings management, indicating the need to preserve relationships, personal connections, and maintain bonded friendships between the CEO, Chairman, and executive directors. Fourth, there is a significant negative relationship between discretionary accrual earnings management and the use of a Big Four firm as an auditor. Fifth, including shareholders in the audit committee, leads to a reduction in discretionary accrual earnings management. Sixth, the debt and return on assets (ROA) variables are significant and positively related to discretionary accrual earnings management. Finally, the company size variable indicated by the log of assets is surprisingly not found to be statistically significant and indicates that all Nigerian companies irrespective of size engage in discretionary accrual management. In conclusion, this study provides key insights that enable a better understanding of the relationship between discretionary accrual earnings management, IFRS, and corporate governance in the Nigerian context. It is expected that the results of this study will be of interest to academics, practitioners, regulators, governments, international bodies and other parties involved in policy setting and economic development in areas of financial reporting, securities regulation, accounting harmonization, and corporate governance.

Keywords: discretionary accrual earnings management, earnings manipulation, IFRS, corporate governance

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Authors: Abida Zanib

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Social entrepreneurship is an attention-grabbing area to meet social needs. Stakeholders in the social sector of Pakistan, particularly investors, development activists and policy makers are considering it as an engine to economic growth and powerful tool to address social issues in inventive ways. However, absence of specific policy and legitimacy issues create hurdles in the way of success for emerging start-ups. The review of the literature reveals that research in this emerging phenomenon particularly in the case of Pakistan is inadequate. To fill this gap in the literature, this study aims to scrutinize characteristics of nascent social enterprises. The study collects data from 65-emerging social enterprises using questionnaire. The results of factor analysis highlight optimistic and driving qualities of Pakistani social entrepreneurs, which help them to survive and grow in the business world. Moreover, the study identifies several areas for improvements such as information disclosure, networking, corporate governance, mentorship programs, and trainings. The study notes that despite the absence of specific policy, dynamic entrepreneurial culture is fostering in Pakistan and recommends re-framing the education policy to support the development of social entrepreneurship.

Keywords: emerging, entrepreneurs, Pakistan, social, start-ups

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Authors: Osama Shibani

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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: Afshin Jahangirzadeh, Shatirah Akib, Keyvan Kimiaei, Hossein Basser

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Coastal defense structures were built to protect part of shore from beach erosion and flooding by sea water. Effects of coastal defense structures can be negative or positive. Some of the effects are beneficial in socioeconomic aspect, but environment matters should be given more concerns because it can bring bad consequences to the earth landscape and make the ecosystem be unbalanced. This study concerns on the negative impacts as they are dominant. Coastal structures can extremely impact the shoreline configuration. Artificial structures can influence sediment transport, split the coastal space, etc. This can result in habitats loss and lead to noise and visual disturbance of birds. There are two types of coastal defense structures, hard coastal structure and soft coastal structure. Both coastal structures have their own impacts. The impacts are induced during the construction, maintaining, and operation of the structures.

Keywords: ecosystem, environmental impact, hard coastal structures, soft coastal structures

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Authors: Paulino V. Tavares, Ana L. Romao

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Public governance, in general, is essential to qualify and educate, pedagogically, the decision-making process of the government in relation to the management of resources and the provision of public services, with transparency and active participation of individuals and citizens for the development of a more democratic environment, besides stimulating control and social empowerment, aiming at the development of the collectivity. In this context, the participation of society in the elaboration, execution, and control of public policies is prominent to strengthen public governance itself. With this, using a multidimensional approach with the application of two questionnaires to a universe of twenty Counselors of the Courts of Auditors (Brazil), twenty professionals of public administration (Brazil), twenty Government/Provincial Counselors (South Africa), and twenty South African professionals of public administration, the preliminary results indicate that the participation of civil society, for both countries, is very low in the elaboration, execution, and control of public policies. At the same time, about 70% of the answers obtained indicate, on average, three possible paths to increase the participation of civil society. With this, it is delineated that developing new horizons to strengthen both public policies how social participation is necessary, but, for both, it is important that governments and civil society, in their respective countries, have an awareness of the effective importance of this interaction.

Keywords: Brazil, civil society, participation, South Africa

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Authors: Raif Parlakkaya, Umran Kahraman, Huseyin Cetin

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Internet financial reporting and corporate governance issues are in the focus of academic and professional studies due to their attributed importance by stakeholders of corporations. Major aim of this study is to reveal the relationship between internet financial reporting which is held as dependent variable and some indicators of corporate governance such as the ratio of managerial ownership, blockholder ownership, number of independent members in the board of directors, frequency of meetings by audit committee and education level of audit committee members which are held as independent variables. Main purpose is to reveal the effect of corporate governance on the voluntary efforts of Internet Financial reporting. The scope of the research is limited to the Turkish Corporations listed in Borsa Istanbul (Istanbul Stock Exchange) and findings which are generated by means of SPSS software are revealed in results section and interpreted in conclusions.

Keywords: audit committee, corporate governance, internet financial reporting, managerial ownership

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Authors: Dina Maratovna Aikenova

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Child care policy must be a priority area of public authorities in any country. This study investigates child care policy in Kazakhstan in accordance with the current position of children and laws. The results show that Kazakhstan policy in this sphere needs more systematic model including state economic and social measures, parental involvement and role of non-government organizations.

Keywords: children, Kazakhstan, policy, vulnerability

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Authors: Thiru Vandeyar

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This study sets out to explore how teachers’ beliefs and attitudes about ICT policy influence a consensus approach to the formulation of a school ICT policy. This case study proposes Q- methodology as an innovative method to facilitate a school’s capacity to develop policy reflecting teacher beliefs and attitudes. Q-methodology is used as a constructivist approach to the formulation of an ICT policy. Data capture was a mix of Q-methodology and qualitative principles. Data was analyzed by means of document, content and cluster analysis methods. Findings were threefold: First, teachers’ beliefs and attitudes about ICT policy influenced a consensus approach by including teachers as policy decision-makers. Second, given the opportunity, teachers have the inherent ability to deconstruct and critically engage with policy statements according to their own professional beliefs and attitudes. And third, an inclusive approach to policy formulation may inform the practice of school leaders and policymakers alike on how schools may develop their own policy.

Keywords: ICT, policy, teacher beliefs, consensus

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Authors: Debby Rizqie Amelia Gustin, Purnomo Yusgiantoro

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Hydrocarbon energy is still pivotal to today’s economy, but its existence is continually declining. Thus, preserving future energy supply has become the national interest of many countries, which they cater in various way, from importing to expansion and occupation. Underwater of Natuna islands in Indonesia deposits great amount of natural gas reserved, numbered to 46 TCF (trillion cubic feet), which is highly potential to meet Indonesia future energy demand. On the other hand, there could be a possibility that others also seek this natural resources. Natuna is located in the borderline of Indonesia, directly adjacent to the South China Sea, an area which is prolonged to conflict. It is a challenge for Indonesia government to preserve their energy deposit in Natuna islands and to response accordingly if the tension in South China Sea rises. This paper examines that nowadays defense and border security is not only a matter of guarding a country from foreign invasion, but also securing its resources accumulated on the borderline. Countries with great amount of energy deposits on their borderline need to build up their defense capacity continually, to ensure their territory along with their energy deposits is free from any interferences.

Keywords: border security, defense, energy, national interest, threat

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Authors: Cesar Julio Recalde

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Background: The role of intangible assets in today´s society is undeniable and continuously growing. More than 80% of corporate market is related to intellectual capital(IC). However, corporate governance principles and practices seem strongly based and oriented towards tangible assets. The impact of intangible assets on corporate governance might require prevention and adaptative actions. Adherence to voluntary mechanisms of intellectual capital reporting (ICR) seems to be a gateway towards adapting corporate governance to intangible assets influence and a conceptual cornerstone. The impact of adherence to intellectual capital reporting on corporate governance and performance needs to be evaluated. Purposes: This work has a sequential two folded purpose: (1) exploring the influences exerted by IC on corporate governance theory and practice, and within that context (2) analyzing the impact of adherence to voluntary mechanisms of ICR on corporate governance. Design and summary: This work employs the theory of the firm and agency theory in order to conceptually explore the effects of each dimension of IC on key corporate governance issues, namely property rights and control by shareholders and residual claims by stakeholders, fiduciary duties of management and the board, opportunistic behavior and transparency. A comprehensive IC taxonomy and map is presented. Within the resulting context, internal and external impact of ICR on corporate governance and performance is conceptually analyzed. IRC constraint and barriers are identified. Intellectual liabilities are presented within the context of IRC. Finally, IRC regulatory framework is surveyed. Findings: Relevant conclusions were rendered on the influence of intellectual capital on corporate governance. Sufficient evidence of a positive impact of IRC on corporate governance and performance was found. Additionally, it was found that IRC exerts a leveraging effect on IC itself. Intellectual liabilities are insufficiently researched and seem to have a relevant importance on IC measuring. IRC regulatory framework was found to be insufficiently developed to capture the essence of intangible assets and to meet corporate governance challenges facing IC. Originality: This work develops a progressive approach to conceptually analyze the mutual influences between IC and corporate governance. An epistemic ideogram represents the intersection of analyzed theories. An IC map is presented. The relatively new topic of intellectual liabilities is conceptually analyzed in the context of IRC. Social liabilities and client liabilities are presented.

Keywords: corporate governance, intellectual capital, intellectual capital reporting, intellectual assets, intellectual liabilities, voluntary mechanisms, regulatory framework

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Authors: Md. Abdul Kader, Md. Akiz Uddin

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The Islamic banking system is based on the Islamic shariah principles. Islamic banking is set up to avoid riba (interest)--which is prohibited in Islam-- and to prevent unscrupulous practices and participate actively in achieving the welfare-oriented Islamic economy. In the process of offering Islamic banking services, practitioners have been facing several challenges. Out of many challenges, this paper particularly highlights the need for a centralized legal framework for Islamic banks that should be compliant with the shariah law. The researchers employed a qualitative method to collect case studies from high-profile Islamic Bankers and analyzed respective legal documents and policy papers to conduct the study. This study investigates the Shariah Governance Framework (SGF), amended Banking Companies Act, 1991 (Act No. 14 of 1991), and the Shariah Supervisory Board (SSB) of Islamic banks in Bangladesh to evaluate how legal framework supervise and/or monitor Islamic banking system under the jurisdiction of shariah law. The study reveals that the Shariah governance system in Bangladesh is mainly voluntary rather than regulatory, and there is an absence of full-fledged SGF. Though there is no complete Islamic Banking Act for controlling, guiding, and supervising the Islamic banks in Bangladesh, some Islamic banking provisions have already been incorporated in the amended Banking Companies Act, 1991 (Act No. 14 of 1991). Bangladesh Bank did not set up any separate Department at its Head Office to control, guide and supervise the operation of the Islamic banks. So, ensuring the implementation of Shariah principles concurrent with the legal framework of banking policies is recommended in this study. This study also prescribes that the government should enact a law or policy for the operations of Islamic banks in order to improve the Islamic Banking system of Bangladesh. In addition, the central bank can set up a Central Shariah Supervisory Board (CSSB) or authorize the existing Central Shariah Board for Islamic Banks of Bangladesh (CSBIB) to supervise and monitor overall activities of Islamic banks and resolve the disputes among the stakeholders concerning the Shariah issues of Islamic banks.

Keywords: islamic banking, shariah law, banking policies, shariah governance framework (SGF)

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Authors: Ernest Nweke, Enkhtuya Bavuudorj

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The harsh realities of the scandalous failure of several notable corporations in the past two decades have inextricably resulted in a surge in corporate governance studies. Nevertheless, little or no attention has been paid to corporate governance studies in Mongolian firms and much less to the comprehension of the correlation among ownership structure, corporate governance mechanisms and trend of innovative activities. Innovation is the bed rock of enterprise success. However, the funding and support for innovative activities in many firms are to a great extent determined by the incentives provided by the firm’s internal and external governance mechanisms. Mongolia is an East Asian country currently undergoing a fast-paced transition from socialist to democratic system and it is a widely held view that private ownership as against public ownership fosters innovation. Hence, following the privatization policy of Mongolian Government which has led to the transfer of the ownership of hitherto state controlled and state directed firms to private individuals and organizations, expectations are high that sufficient motivation would be provided for firm managers to engage in innovative activities. This research focuses on the relationship between ownership structure, corporate governance on one hand and the level of innovation on the hand. The paper is empirical in nature and derives data from both reliable secondary and primary sources. Secondary data for the study was in respect of ownership structure of Mongolian listed firms and innovation trend in Mongolia generally. These were analyzed using tables, charts, bars and percentages. Personal interviews and surveys were held to collect primary data. Primary data was in respect of corporate governance practices in Mongolian firms and were collected using structured questionnaire. Out of a population of three hundred and twenty (320) companies listed on the Mongolian Stock Exchange (MSE), a sample size of thirty (30) randomly selected companies was utilized for the study. Five (5) management level employees were surveyed in each selected firm giving a total of one hundred and fifty (150) respondents. Data collected were analyzed and research hypotheses tested using Chi-Square test statistic. Research results showed that corporate governance mechanisms were better and have significantly improved overtime in privately held as opposed to publicly owned firms. Consequently, the levels of innovation in privately held firms were considerably higher. It was concluded that a significant and positive relationship exists between private ownership and good corporate governance on one hand and the level of funding provided for innovative activities in Mongolian firms on the other hand.

Keywords: corporate governance, innovation, ownership structure, stock exchange

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Authors: Beatrice Adeoye

Abstract:

Background: One of the health challenges developing countries face is air pollution from indoor and outdoor activities. Smoke as a result of cooking, burning wastes and power generators litter the air space on a continual basis due to poverty and governance challenges. The short and long term implications of these actions are enormous and studies have attributed smoke as one of the leading preventable risk factors contributing to global burden of respiratory infections. Design/Methods: The issue at hand therefore includes an exploration of the existing policy frameworks regarding smoke, adherence to international conventions and practices, and more importantly the activities of the government in addressing these issues. Aside this, an understanding of the implications of smoke on peoples’ health and well-being also become crucial. Consequently, this article seeks to interrogate the effect of smoke on the health and well-being of Nigerians and the activities of the policy makers in addressing these challenges. Results (Main Argument): This study reviewed both primary and secondary data on poverty, smoke emission and attendant health risks coupled with existing policies on smoke and air pollution in the country. For instance, over 69% of Nigerians are poor, ranking third in the world; 2.9 billion people live in homes using wood, coal or dung as their primary cooking fuel; equally, 50.6% of Nigerians has no access to regular electricity supply. Further, sustainable policy regarding smoke emission is lacking in the country. This work further submitted that continued low standard of living as a result of governance challenges coupled with a lack of sustainable policy have aggravated the health risks related to smoke in the country. Conclusions: The implication on the health of the children, mothers and vulnerable groups for the future of the country is enormous and may continue if not addressed. Urgent attention therefore needs to be focused on this area considering what this portends for the nation now and in the future.

Keywords: air pollution, indoor, outdoor, respiratory infections

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Authors: Azaz Zaman, Imtiaz Uddin Chowdhury, Mohammad Shariful Islam

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Corporate governance has become a crucial issue in both the business and academic world as a result of world-wide financial scandals and lack of trust in corporate practices. There is no doubt that in order to thrive and attain growth in the market, a company must earn the trust of its stakeholders by consistently delivering on its commitments. Directors of the companies thus comprehend the importance of upfront communication with relevant stakeholders to increase their confidence. The authors of this article argue that practicing good corporate governance is not enough in this highly competitive market place; corporate leaders need to market their good corporate governance practices in order to make the company more attractive to investors. This article also contends that the strength of corporate governance relies wholly upon the extent to which it is communicated simply, effectively and unceasingly to its stakeholders. The main objective of this study, therefore, is to explore the importance of branding good corporate governance in order to increase corporate brand equity, attract investors, and capture market share. A structured questionnaire comprising three sections and a total of 34 questions was prepared and surveyed by the authors among respondents residing in Bangladesh and who also have an academic and corporate background, to investigate the potential impact of branding good corporate governance in the market place. High mean values for individual questions and overall section depict that communicating and branding good corporate governance to the stakeholders will not only boost the investors’ confidence but also increase the corporate brand equity, yielding both profitable and sustainable business environment.

Keywords: brand equity, investors’ preference, good corporate governance, sustainable business environment

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Authors: Nino Grigolaia

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Introduction: The article discusses the experience of the EU in the social field, analyzes the peculiarities of the functioning of the social system in Georgia, and reveals the priority and importance of social policy. Methodology: Different research methods are applied in the presented paper. There are used induction, deduction, analysis, synthesis, analogy, correlation, and statistical observation methodologies in the work. Main Findings: Based on the analysis of social security reforms in Georgia, the main systematic problems are detected, the recommendations on social security system components, integration of the social security field in the unified insurance system, the formation of the national social system, perfection of the legislative, regulatory framework of social protection, adoption of foreign experience are developed in the article. Conclusion: The article concludes that the social protection system in Georgia is at an early stage of development, with the significant impact of factors such as high level of unemployment, low pensions, a large number of families living under the poverty line, and other ones. Accordingly, it is well-established that the study of the social security problem in Georgia is still actual. Based on the analysis, appropriate suggestions in the field of social security are made, and relevant recommendations are proposed.

Keywords: social security, social system, social policy, social security models

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Authors: K. Y. Chen, Y. N. Jia, H. Chua, C. W. Kan

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In United States (US), the environmental policy went through two stages that are government control period and market mechanism period. In the government control period in the 1970s, environmental problems in U.S. are treated by mandatory direct control method, including promulgation of laws, formulation of emission standards and mandatory installation of pollution treatment equipment. After the 1980s, the environmental policy in U.S. went into the second stage, in which the government strengthened the incentives and coordination effects of market. Since then, environmental governance had been partially replaced by means of economic regulation of the market. Green Tax Policy and Marketable Pollution Permits are good examples of government's economic interventions. U.S. Federal Government regards environmental industry as high-tech industry which is promoted in this period. Therefore, in the paper, we aim to analyse the effect of environmental investment on the sustainable development in the US. Acknowledgment: Authors would like to thank the financial support from the Hong Kong Polytechnic University for this work.

Keywords: United States, public environmental investment, analysis, sustainable development

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