Search results for: governance in crisis

Authors: Muhlisin, Moh. Sofyan Budiarto

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

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

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Authors: Julieth Gudo

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

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

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Authors: Ilyes Athimni, Mouna Bouzazi, Mongi Boulehmi, Ahmed Ferchichi

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The principles of good governance, universal values, and digitization are among the tools to fight corruption and improve the quality of service delivery. In recent years, these tools have become one of the most controversial topics in the field of education and a concern of many international organizations and institutions against the problem of corruption. Corruption in the education sector, particularly in higher education, has negative impacts on the quality of education systems and on the quality of administrative or educational services. Currently, the health crisis due to the spread of the COVID-19 pandemic reveals the difficulties encountered by education systems in most countries of the world. Due to the poor governance of these systems, many educational institutions were unable to continue working remotely. To respond to these problems encountered by most education systems in many countries of the world, our initiative is to propose a methodology to reinvent education systems based on global values and digital technologies. This methodology includes a work strategy for educational institutions, whether in the provision of administrative services or in the teaching method, based on information and communication technologies (ICTs), intelligence artificial, and intelligent agents. In addition, we will propose a supervisory law that will be implemented and monitored by intelligent agents to improve accountability, transparency, and accountability in educational institutions. On the other hand, we will implement and evaluate a field experience by applying the proposed methodology in the operation of an educational institution and comparing it to the traditional methodology through the results of teaching an educational program. With these specifications, we can reinvent quality education systems. We also expect the results of our proposal to play an important role at local, regional, and international levels in motivating governments of countries around the world to change their university governance policies.

Keywords: artificial intelligence, corruption in education, distance learning, education systems, ICTs, intelligent agents, good governance

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Authors: Majda Al Salti

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Tourism industry is considered globally as one of the leading industries due to its noticeable contribution to countries' gross domestic product (GDP) and job creation. However, tourism is vulnerable to crisis and disaster that requires its preparedness. With its limited capabilities, there is a need to improve links and the understanding between the tourism industry and the emergency services, thus facilitating future emergency response to any potential incident. This study aims to develop the concept of an integrated emergency management system for the tourism industry. The study used face-to-face semi-structured interviews to evaluate the level of crisis and disaster preparedness of the tourism industry in Oman. The findings suggested that there is a lack of understanding of crisis and disaster management, and hence preparedness level among Oman Tourism Authorities appears to be under-expectation. Therefore, a clear need for tourism sector inter- and intra-integration and collaboration is important in the pre-disaster stage. The need for such integrations can help the tourism industry in Oman to prepare for future incidents as well as identifying its requirements in time of crisis for effective response.

Keywords: tourism, emergency services, crisis, disaster

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

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

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

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Authors: Joachim Monkelbaan, Marcia Hale

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

Keywords: governance, transitions, global frameworks, infrasystems

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Authors: Faribaebrahimi, Mehdi Ghorbani, Mohsen Mohsenisaravi

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

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

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Authors: Xin Jie Li

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

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

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

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

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

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Authors: Hani Albogami

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

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

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Authors: Trinh Hoang Hong Hue

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

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

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Authors: H. Malachova, A. Oulehlova, D. Rezac

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Crisis preparedness training is the best possible strategy for identifying weak points, understanding vulnerability, and finding possible strategies for mitigation of blackout consequences. Training represents an effective tool for developing abilities and skills to cope with crisis situations. This article builds on the results of the research carried out in the field of preparation, realization, process, and impacts of training on subjects of energy sector critical infrastructure as a part of crisis preparedness. The research has revealed that the subjects of energy sector critical infrastructure have not realized training and therefore are not prepared for the restoration of the energy supply and black start after blackout regardless of the fact that most subjects state blackout and subsequent black start as key dangers. Training, together with mutual communication and processed crisis documentation, represent a basis for successful solutions for dealing with emergency situations. This text presents the suggested model of SIMEX simulator as a tool which supports managing crisis situations, containing training environment. Training models, possibilities of constructive simulation making use of non-aggregated as well as aggregated entities and tools of communication channels of individual simulator nodes have been introduced by the article.

Keywords: communication, energetic critical infrastructure, training, simulation

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Authors: Sahara Piang Brahim

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

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

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Authors: Aylin Mohammadalipour Tofighi

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

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

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Authors: Maharani Yulisti, Amin Mugera, James Fogarty

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

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

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Authors: Ruchi Agarwal

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

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

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Authors: Farzaneh Sasanpour, Saeed Amini Varaki

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Resilience is an important goal for cities as urban areas face an increasing range of challenges in the 21st century; therefore, according to the characteristics of risks, adopting an approach that responds to sensitive conditions in the risk management process is the resilience of cities. In the meantime, most of the resilience assessments have dealt with natural hazards and less attention has been paid to pandemics.In the covid-19 pandemic, the country of Iran and especially the metropolis of Tehran, was not immune from the crisis caused by its effects and consequences and faced many challenges. One of the methods that can increase the resilience of Tehran's metropolis against possible crises in the future is future studies. This research is practical in terms of type. The general pattern of the research will be descriptive-analytical and from the point of view that it is trying to communicate between the components and provide urban resilience indicators with pandemic crises and explain the scenarios, its future studies method is exploratory. In order to extract and determine the key factors and driving forces effective on the resilience of Tehran's urban areas against pandemic crises (Covid-19), the method of structural analysis of mutual effects and Micmac software was used. Therefore, the primary factors and variables affecting the resilience of Tehran's urban areas were set in 5 main factors, including physical-infrastructural (transportation, spatial and physical organization, streets and roads, multi-purpose development) with 39 variables based on mutual effects analysis. Finally, key factors and variables in five main areas, including managerial-institutional with five variables; Technology (intelligence) with 3 variables; economic with 2 variables; socio-cultural with 3 variables; and physical infrastructure, were categorized with 7 variables. These factors and variables have been used as key factors and effective driving forces on the resilience of Tehran's urban areas against pandemic crises (Covid-19), in explaining and developing scenarios. In order to develop the scenarios for the resilience of Tehran's urban areas against pandemic crises (Covid-19), intuitive logic, scenario planning as one of the future research methods and the Global Business Network (GBN) model were used. Finally, four scenarios have been drawn and selected with a creative method using the metaphor of weather conditions, which is indicative of the general outline of the conditions of the metropolis of Tehran in that situation. Therefore, the scenarios of Tehran metropolis were obtained in the form of four scenarios: 1- solar scenario (optimal governance and management leading in smart technology) 2- cloud scenario (optimal governance and management following in intelligent technology) 3- dark scenario (optimal governance and management Unfavorable leader in intelligence technology) 4- Storm scenario (unfavorable governance and management of follower in intelligence technology). The solar scenario shows the best situation and the stormy scenario shows the worst situation for the Tehran metropolis. According to the findings obtained in this research, city managers can, in order to achieve a better tomorrow for the metropolis of Tehran, in all the factors and components of urban resilience against pandemic crises by using future research methods, a coherent picture with the long-term horizon of 2050, from the path Provide urban resilience movement and platforms for upgrading and increasing the capacity to deal with the crisis. To create the necessary platforms for the realization, development and evolution of the urban areas of Tehran in a way that guarantees long-term balance and stability in all dimensions and levels.

Keywords: future research, resilience, crisis, pandemic, covid-19, Tehran

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Authors: Y. Yılmaz, C. Ünal, A. Dursun

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Distribution channels play significant role for hotels. Direct and indirect selling options of hotel rooms have been increased especially with the help of new technologies, i.e. hotel’s own web sites and online booking sites. Although these options emerged as tools for diversifying the distribution channels, vast number of hotels -mostly resort hotels- is still heavily dependent upon international tour operators when selling their products. On the other hand, hotel sector is so vulnerable against crises. Economic, political or any other crisis can affect hotels very badly and so it is critical to have the right balance of distribution channel to avoid the adverse impacts of a crisis. In this study, it is aimed to search the impacts of a general crisis on the selling prices of hotels which have different weights of distribution channels. The study was done in Turkey where various crises occurred in 2015 and 2016 which had great negative impacts on Turkish tourism and led enormous occupancy rate and selling price reductions. 112 upscale resort hotel in Antalya, which is the most popular tourism destination of Turkey, joined to the research. According to the results, hotels with high dependency to international tour operators are more forced to reduce their room prices in crisis time compared to the ones which use their own web sites more. It was also found that the decline in room prices is limited for hotels which are working with national tour operators and travel agencies in crisis time.

Keywords: marketing channels, crisis, hotel, international tour operators, online travel agencies

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Authors: Dian Andari

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

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

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Authors: Francisca Anene

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

Keywords: corruption, gender equality, good governance, Nigeria

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Authors: Kamlesh Shashikant Dave

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The global financial crisis is rooted in the sub-prime crisis in U.S.A. During the boom years, mortgage brokers attracted by the big commission, encouraged buyers with poor credit to accept housing mortgages with little or no down payment and without credit check. A combination of low interest rates and large inflow of foreign funds during the booming years helped the banks to create easy credit conditions for many years. Banks lent money on the assumptions that housing price would continue to rise. Also the real estate bubble encouraged the demand for houses as financial assets .Banks and financial institutions later repackaged these debts with other high risk debts and sold them to worldwide investors creating financial instruments called collateral debt obligations (CDOs). With the rise in interest rate, mortgage payments rose and defaults among the subprime category of borrowers increased accordingly. Through the securitization of mortgage payments, a recession developed in the housing sector and consequently it was transmitted to the entire US economy and rest of the world. The financial credit crisis has moved the US and the global economy into recession. Indian economy has also affected by the spill over effects of the global financial crisis. Great saving habit among people, strong fundamentals, strong conservative and regulatory regime have saved Indian economy from going out of gear, though significant parts of the economy have slowed down. Industrial activity, particularly in the manufacturing and infrastructure sectors decelerated. The service sector too, slow in construction, transport, trade, communication, hotels and restaurants sub sectors. The financial crisis has some adverse impact on the IT sector. Exports had declined in absolute terms in October. Higher inputs costs and dampened demand have dented corporate margins while the uncertainty surrounding the crisis has affected business confidence. To summarize, reckless subprime lending, loose monetary policy of US, expansion of financial derivatives beyond acceptable norms and greed of Wall Street has led to this exceptional global financial and economic crisis. Thus, the global credit crisis of 2008 highlights the need to redesign both the global and domestic financial regulatory systems not only to properly address systematic risk but also to support its proper functioning (i.e financial stability).Such design requires: 1) Well managed financial institutions with effective corporate governance and risk management system 2) Disclosure requirements sufficient to support market discipline. 3)Proper mechanisms for resolving problem institution and 4) Mechanisms to protect financial services consumers in the event of financial institutions failure.

Keywords: FIIs, BSE, sensex, global impact

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Authors: Busari Moshood Olanyi

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

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

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Authors: Mohammad Q. M. Momani

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The objective of this study is to examine whether the value relevance of ownership structure changed as the Amman Stock Exchange market conditions changed. Using data from 2005 to 2014, the study finds that the performance of portfolios that contain firms with concentrated ownership structure declines significantly during the post-crisis period. These portfolios exhibit poor performance relative to portfolios that contain firms with dispersed ownership structure during the post-crisis period. The results argue that uninspired performance of the Amman Stock Exchange during the post-crisis period, increased the incentives for controlling shareholders to expropriate. Investors recognized these incentives and discounted firms that were more likely to expropriate.

Keywords: value relevance, ownership structure, portfolio performance, Jordan, ASE

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

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

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

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Authors: Lorena F. Axinte

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Territorial rescaling is a universal practice in the UK, following a logic of agglomeration and competition as the only chance for cities to thrive. Cardiff Capital Region is one of the latest examples, and its governance structures and developmental narratives are currently being shaped. Its evolution must be compatible with the Wellbeing of Future Generations Act, a Welsh legislation that requires public bodies to put sustainability at the core of all actions. Departing from this case study, the project follows the evolution of Cardiff Capital Region and assesses it based on a new a conceptual framework that connects the notions of regenerative development, collaborative governance, and progressive regionalism. The hypothetical synergies between these different theoretical perspectives are demonstrated, inferring that if regenerative development is aimed at, it must necessarily start with collaborative modes of governance. The objective is to explore (a) whether expanding the network of active stakeholders who get to intervene in the governance structure can contribute to a more progressive definition and development of the city region and (b) whether this can be considered a pathway towards regenerative development. The exploratory fieldwork conducted during the initial phase of the project used qualitative methods, which will be complemented next by different participatory research approaches, as well as a quantitative analysis. Despite being in its early days, the study is showing that a wider range of voices can indeed change priorities, reconcile and balance between the economic drivers and the wider social, economic, cultural and environmental aspects.

Keywords: Cardiff Capital Region, collaborative governance, progressive regionalism, regenerative development

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Authors: Xiujuan Qiao

Abstract:

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

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

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Authors: Saad Bin Nasir

Abstract:

This research will examine the impact of corporate governance on firm performance in family and non-family owned firms in Pakistan. For the purpose of this research, corporate governance mechanisms which included are board size, board composition, leadership structure, board meetings are taken as independent variable and firm performance taken as dependent variable and it will be measured with return on asset and return on equity. Firm size and firm’s age will be taken as control variables. Secondary data will collect from audited annul reports of companies and panel data regression model will applied, to check the impact of corporate governance on firm performance.

Keywords: board size, board composition, Leadership Structure, board meetings, firm performance, family and non-family owned firms

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Authors: Adamu Buba

Abstract:

As West Africa gradually recovers from the cost of more than a decade of civil conflicts in Liberia, Sierra Leone and Côte d’Ivoire, ECOWAS has continued to place prominence on peace consolidation and the prevention of conflict in the West African Sub-Region. Of particular interest is the recent political uprising in Mali and in this regard, ECOWAS has been repositioning their existing machineries to manage this dispensation more effectively by improving their early warning and mediation capabilities. This paper firstly seeks among other things to provide a conceptual understanding of what security sector governance is, and also highlight the overview of ECOWAS and to closely examine the benchmark for assessing progress in the promotion of democracy and political governance within the sub-region as well as conflict prevention techniques. The views and analysis expressed in this paper is based on secondary method of data collection alone and do not in any way represent the views of the institutions or their representatives involved in this assignment in one way or the other.

Keywords: challenges, security, governance, ecowas, response

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Authors: Artsiom Zinchanka

Abstract:

The world faces now one of the largest migration crisis and the European Union meets challenges in accepting the flow of migrants that could not be handled finally at this step. This crisis is complicated with many factors, such as military conflict in the Middle East; absence of the appropriate conditions in the refugees’ camps; but also with the complicity of the migration flow consisting of the Sub-Saharan migrants. This type of migrants leave their homelands for many reasons including poverty, not appropriate level of social and economic conditions, absence of infrastructure and access to the education and medical care. In practice, when the restrictive approach directed to limit the flow of illicit migration and to send illicit migrants back to their homelands is not always working, the approach directed to the root causes of the migration crisis can be more effective in settling the crisis. The Cotonou Agreement and the following treaties concluded between the European Union, and Sub-Saharan states show that the European Union considers the development of human rights and appropriate social and economic conditions in the Sub-Saharan states as one of the most important factors addressing the migration crisis. The preventive approach as the efforts of the European Union to develop appropriate social and economic conditions in Sub-Saharan states is considered in this article, as well as its evolution and current condition. This article also considers pros and cons of this approach and the obstacles that this approach faces. The research methods include review of literature and documents, analytical and descriptive methods.

Keywords: migration crisis, preventive approach, Sub-Saharan States, the European Union

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Authors: Mustafa K. Yilmaz, Ahmet Kaplan, Murat Guven, Vildan Kesici

Abstract:

Aviation industry influences the social and economic growth across the countries. Further, airline companies are highly affected by social, political, and financial crises and show a high degree of cyclicity in operational performance. Hence, this paper investigates the effects of available seat kilometers (ASK), revenue per kilometer (RPK), passenger load factor (PLF) as well as socio-political crisis on the number of passengers carried (PC) by Turkish Airlines company over the period of 2010M1-2018M12. To conduct the analysis, we employ fully modified ordinary least squares (FMOLS), dynamic ordinary least squares (DOLS), and canonical cointegration regression (CCR) techniques using monthly data. We use ASK, RPK, PLF as independent variables to identify the determinants of the PC, as a dependent variable. We also test the effect of the socio-political crisis. The results reveal that there is a significant and negative relationship between ASK and PC, while the relationship between RPK and PC is positive and significant. We also find that there is an insignificant relationship between PLF and PC. Further, we also find a negative effect of the crisis on the PC. These findings show although the crisis had an immediate effect on the operational performance of Turkish Airlines, the company recovered from the crisis and cope with the situation very promptly. Thus, this proves the resilience and agile management ability of the company.

Keywords: airline industry, operational performance, air traffic, socio-political crisis

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