This article analyses ‘performance government’ as an emergent form of rule in advanced liberal democracies. It discloses how teachers and school leaders in Australia are being governed by the practices of performance government which centre on the recently established Australian Institute for Teaching and School Leadership (AITSL) and are given direction by two major strategies implicit within the exercise of this form of power: activation and regulation. Through an ‘analytics of government’ of these practices, the (...) article unravels the new configurations of corporatized expert and academic knowledge—and their attendant methods of application—by which the self-governing capacities of teachers and school leaders are being activated and regulated in ways that seek to optimize the performance of these professionals. The article concludes by outlining some of the dangers of performance government for the professional freedom of educators and school leaders. (shrink)

Investors' confidence in the financial market is boosted by good corporate governance (CG). Good governance builds trust and improves an organization's financial performance (FP). However, organizations with bad management lose the trust of their stakeholders because they do not perform well financially. Therefore, the purpose of this study is to examine the influence of CG 89; on FP through mediating the role of humble leadership (HL) and monetary incentive (MI) as a moderator between CG and HL. Data were collected (...) from 300 respondents who were working in various cement manufacturing organizations located in different cities of Pakistan. The analysis was performed using SPSS software version 25 and AMOS version 22 software to work out the study sample size. The result revealed that the framework of CG has a positive impact in terms of FP. Furthermore, HL positively and significantly mediates on CG, and FP is inextricably linked. However, MI acts as a moderator between CG and HL, but despite strengthening, it weakens the impact of CG' on HL. This study contributes toward the literature, specifically toward the expectancy theory literature. Finally, some theoretical and practical implications at the organizational level are offered, describing how CG influences FP within the organization, and research limitations and future directions are presented. (shrink)

This paper explores the conduct of performance appraisals of nurses in a New Zealand hospital, and how fairness is perceived in such appraisals. In the health sector, performance appraisals of medical staff play a key role in implementing clinical governance, which, in turn, is critical to containing health care costs and ensuring quality patient care. Effective appraisals depend on employees perceiving their own appraisals to be fair both in terms of procedure and interaction with their respective appraiser. We (...) examine qualitative data from interviews and focus groups, involving 22 nurses in a single department, to determine whether perceived injustices impact on the effective implementation of the appraisal system. Our results suggest that particular issues had been causing some sense of injustice, and most of these were procedural. Potential solutions focus on greater formalisation of the performance appraisal process, and more training for appraisers and appraisees. (shrink)

Neoliberal precepts of the governance of academic science-deregulation; reification of markets; emphasis on competitive allocation processes have been conflated with those of performance management—if you cannot measure it, you cannot manage it—into a single analytical and consequent single programmatic worldview. As applied to the United States’ system of research universities, this conflation leads to two major divergences from relationships hypothesized in the governance of science literature. (1) The governance and financial structures supporting academic science in the United States’ system (...) of higher education are sufficiently different from those found in many other OECD countries where these policies have been adopted to produce political pressures for an increase rather than a decrease in governmental control over university affairs. (2) The major impact upon academic science of performance measurement systems has come not externally from new government requirements but internally from the independent adoption of these techniques by universities, initially in the name of rational management and increasingly as devices to foster reputational enhancement. The overall thrust of the two trends in the U.S. has been less a shift as experienced elsewhere from bureaucratic to market modes of governance than the displacement of professional-collegial control by internal bureaucratic control. (shrink)

The present study investigates the interrelationship of corporate governance parameters like board independence and corporate board meetings. The other important control variables like age, leverage, firm's liquidity and size of the firm have been employed to analyse the alliance between corporate governance, vertical agency cost and performance of the firm. The study considers data corresponding to a panel of 76 non-financial firms during 2010-2019 listed in the National Stock Exchange, India. The study tries to empirically evaluate the association between (...) corporate governance parameters and performance of the firm. By selecting the static panel data regression, researchers found no significant impact of corporate board meeting and board independence on firm performance. The study also documents a positive and significant relationship between board independence and asset utilisation ratio. Further, corporate board meetings have a negative relationship with vertical agency crisis. (shrink)

The study empirically investigates the relationship between corporate governance and the triple bottom line sustainability performance through the lens of agency theory and stakeholder theory. We claim, in fact, that no single theory fully accounts for all the hypothesised relationships. We measure sustainability performance through manual content analysis on sustainability reports of the US-based companies. The study extends the existing literature by investigating the impact of selected corporate governance mechanisms on each dimension of sustainability performance, as defined (...) by the GRI framework. Our approach allows to identify which governance mechanisms foster triple bottom line performance, also revealing that some mechanisms fit only specific dimension of sustainability. The fact-based findings provide support for a new beginning in the theorising process in which the theories must try not only to provide rationale for the impact of corporate governance on sustainability, but also to explain which dimension of sustainability might be more affected. The most important implication for practitioners is the support for sustainability practices, which may be gained through implementation of particular corporate governance mechanisms. The findings contribute also to the improvement of the ongoing standard setting process, in particular as it concerns the in-depth revision of the economic dimension of sustainability carried out under the new GRI framework. (shrink)

In light of the World Anti Doping Agency’s 2013 Code Revision process, we critically explore the applicability of two of three criteria used to determine whether a method or substance should be considered for their Prohibited List, namely its (potential) performance enhancing effects and its (potential) risk to the health of the athlete. To do so, we compare two communities of human guinea pigs: (i) individuals who make a living out of serial participation in Phase 1 pharmacology trials; and (...) (ii) elite athletes who engage in what is effectively ‘unregulated clinical research’ by using untested prohibited or non-prohibited performance enhancing substances and methods, alone or in combination. Our comparison sheds light on norms of research ethics that these practices exacerbate with respect to the concepts of multiplicity, visibility, and consistency. We argue for the need to establish a proper governance framework to increase the accountability of these unregulated research practices in order to protect the human guinea pigs in elite sports contexts, and to establish reasonable grounds for the performance enhancing effects, and the risks to the health of the athlete, of the methods and substances that might justify their inclusion on the Prohibited List. (shrink)

Data is essential to governing those emerging matters of concern that confront the agrifood every day. But data is no neutral intermediary. It disrupts, exposes, and creates new social, economic, political, and environmental possibilities, whilst simultaneously hiding, excluding, and foreclosing others. Scholars have become attuned to both the constitutive role of data in creating everyday worlds, and the need to develop critical accounts of the materialities, spatialities and multiplicities of data relationships. Whereas this emerging work develops insight to the capacity (...) for data topologies to reterritorialise the spatial performances of everyday life, it has largely reduced the associated temporal dimensions to matters of fact. The effect of these performances has been to naturalize the temporal quality of speed and elide the multiple temporalities required to enact contemporary data worlds. Applying the lenses of infrastructuring, performativity and ferality, this paper explores temporality and data in the everyday worlds produced through the New Zealand kiwifruit industry’s focus on dry matter. The paper argues that temporalities are deeply embedded in the kiwifruit industry’s data relations. We show that while temporal data relations are critical to the industry, we also highlight ways in which those relations introduce new, potentially destabilizing performances into kiwifruit relations. (shrink)

This study examines the impact of corporate governance on the financial performance of Asia Pacific stocks in three Asian countries: Malaysia, Thailand and Singapore. By including a sample of 159 firms listed on three Asian stock markets from 2013 to 2017, this study found that the effects of corporate governance mechanisms vary significantly among the three Asian markets. Specifically, this study shows that board size has positively influenced listed firms' financial performance in the Singapore Exchange. However, our findings (...) show that board size has negatively affected listed firms' financial performance in Thailand's Stock Exchange. In addition, our results reveal that board independence has negatively influenced listed firms' financial performance in Bursa Malaysia. Finally, this study provides implications for regulatory authorities in the Asian stock markets to separate between chairman and CEO roles since most Asian firms are owned and directed by business families. (shrink)

Controversies surrounding social media platforms have provided opportunities for institutional reflexivity amongst users and regulators on how to understand and govern platforms. Amidst contestation, platform companies have continued to enact projects that draw upon existing modes of privatized governance. We investigate how social media companies have attempted to achieve closure by continuing to set the terms around platform governance. We investigate two projects implemented by Facebook (Meta)—authenticity regulation and privacy controls—in response to the Russian Interference and Cambridge Analytica controversies surrounding (...) the 2016 U.S. Presidential Election. Drawing on Goffman’s metaphor of stage management, we analyze the techniques deployed by Facebook to reinforce a division between what is visible and invisible to the user experience. These platform governance projects propose to act upon _front-stage data relations:_ information that users can see from other users—whether that is content that users can see from “bad actors”, or information that other users can see about oneself. At the same time, these projects relegate _back-stage data relations_—information flows between users constituted by recommendation and targeted advertising systems—to invisibility and inaction. As such, Facebook renders the user experience actionable for governance, while foreclosing governance of back-stage data relations central to the economic value of the platform. As social media companies continue to perform platform governance projects following controversies, our paper invites reflection on the politics of these projects. By destabilizing the boundaries drawn by platform companies, we open space for continuous reflexivity on how platforms should be understood and governed. (shrink)

This study investigates the relationship between corporate governance and corporate sustainability performance in the emerging Asian markets where the central role of sustainable development was perceived after the 2008 global financial crisis. We base our study on the triple bottom line approach that incorporates three dimensions of sustainability: economic, environmental, and social performance. A governance index comprising ten firm-specific provisions is proposed to summarise internal corporate governance. Consistent with agency theory, we confirm that firms with better corporate governance (...) have better corporate sustainability performance. We also determine which main factors drive the governance-sustainability relation. The findings have practical implications for firms, shareholders, and policy makers by emphasising the role of corporate governance in assessing and enhancing corporate sustainability performance. (shrink)

Since Ackerman in Corporate social responsiveness, the modern dilemma (1973), pleaded for the institutionalisation of corporate social performance (CSP) in business processes, researchers have focused on the role of strategy in CSP. This article demonstrates that CSP is institutionalised within the governance structure. We will attempt to make this clear by means of a description of the Dutch system of corporate governance. Under certain circumstances Dutch companies are already bound to CSP due to prevailing legislation. A governance perspective shows (...) that CSP is institutionalised within a company’s governance structure. “Processes of responsiveness”, since long regarded as a starting point of CSP-analysis, appear to be decision-making processes. Within these processes the expectations of the stakeholders can be institutionalised, trust can be built and interests can be incorporated. This makes CSP context-dependent. However, it is possible to analyse companies by comparing the companies’ individual governance structures. The article concludes that CSP-analysis can fruitfully extend into analysing in the role of the stakeholders in the influence-pathways that are incorporated within the governance structure. (shrink)

Identifying corporate governance mechanisms to improve firm performance has been at the forefront of policy discussion and research in recent years. Existing research in this area focuses on large-capitalisation firms, and has not provided much insight on smaller firms. This paper tests for the optimality of deployment of governance mechanisms for Canadian small-cap firms by estimating a simultaneous equation system that links four control mechanisms to firm performance, using recent data. The results confirm simultaneity between several governance mechanisms (...) and Canadian small-cap firm performance. CEO ownership and shareholder rights are shown to determine board independence. CEO ownership in turn is shown to depend on the extent of shareholder rights and whether the CEO is also Chairperson of the board. Canadian small-cap firms appear to overutilise debt as a control mechanism. There is somewhat weaker evidence that board independence and CEO ownership are beyond the optimum. The latter, given the relatively high degree of CEO ownership in Canadian small-cap firms, is consistent with management entrenchment. We also do not find any significant discount to performance for Quebec-based firms, or for firms with dual or multiple voting class shares structures. (shrink)

This paper prepares an investigation into the roles and effectiveness of different types of corporate governance and environmental governance mechanisms in driving improvements in environmental performance. More specifically, the authors provide background theory regarding the way in which different types of traditional corporate governance and new concepts of environmental governance might have an impact on reducing firms’ levels of greenhouse gas emissions intensities. The paper also suggests a method of how this could be empirically tested.

The financial applications of data technology have enabled the rise of Chinese fintech industries. As part of people's everyday lives, fintech apps have helped companies collect vast amounts of user data for business profit and social good. This paper takes an open-systems approach to study the constructs of this emerging idea of data governance, particularly its operational logic, involved stakeholders, and socio-cultural consequences in the context of fintech industries in China. It asserts that data governance at the company level has (...) been realized through three types of tasks: standardization, configuration, and monetization of big data. These tasks are oriented by the imperative of business innovation which is considered pivotal for the company to survive the competition. An ensemble of internal and external actors joined the governing process, but internal actors hold the stake. The goal of innovation drives the companies to speedily collect data from a wider variety of sources, thus having to establish more sophisticated systems to manage and utilize those data. These complicated systems, however, have urged the government to strengthen regulatory controls alongside the general support of business innovation. This study unveils the performative aspects of big-data-based innovation at fintech firms. It also helps to understand the pathology of the innovation-governance paradox shared in the data economy in the global context. (shrink)

We investigate the impact of corporate governance (CG) on environmental, social, and governance (ESG) performance in the textile industry in developing countries, taking into account the moderating role of technological innovation (TI). Based on institutional theory, we investigated the connection between CG, TI, and ESG performance. The study used secondary data from 197 textile firms in West Africa from 2010 to 2022. Our findings revealed a positive relationship between gender diversity and ESG performance. Similarly, a positive relationship (...) was found between board independence and ESG performance. Contrarily, an inverse connection was found between board size and ESG performance, as well as CEO duality and ESG performance. The study adds to the academic literature on CG and ESG performance by emphasizing the necessity of balancing economic development with social responsibility and environmental preservation. In addition, the study highlights the need to stimulate technological innovation and create an effective governance structure conducive to implementing firms' ecological responsibilities. Lastly, policymakers can adopt the integrated ESG index in measuring firms' sustainability performance across all sectors and regions. (shrink)

The purpose of this paper is to examine the effect of corporate governance practices of small cap companies have had on their financial performances. Previous studies have mainly examined governance practices of larger corporations. This analysis focuses on the governance variables that have been highlighted by the New Zealand Securities Commission governance principles and guidelines and also on the governance variables that are supported in the literature as providing an appropriate structure for the firm in the environment in which it (...) operates. The data for 71 small cap companies listed in New Zealand over a five-year period from 2001 to 2005 was analysed. Pooled data, OLS and 2SLS regression techniques were used and Tobin's Q, ROA and OPINC were used as the dependent variables. The evidence does support the hypothesis that the existence of board independence and audit committee has enhanced firm financial performance, as measured by Tobin's Q. (shrink)

Corporate governance is increasingly becoming an issue of global concern, not least because we are more and more living in a corporate world that transcends international boundaries. The main purpose and motivation of this study is to determine how the international community should motivate businesses in fostering exemplary corporate governance, therefore eliminating obstacles to ethically exemplary behavior. The empirical approach utilized here has been applied to 161 businesses, both listed and over-the-counter (OTC) companies, with the results indicating that ethical considerations, (...) corporate governance and organizational performance are inextricably linked and, to an extent, demonstrably proportional. This study also indicates a major finding that family management is a significant mediating variable of the ethical considerations of corporate governance and organizational performance. Finally, this study has developed an operational model of ethical considerations of corporate governance as a consultancy aid for businesses that wish to implement and/or boost their performance in respect to corporate governance. (shrink)

This paper examines whether a firm’s financial performance is associated with superior environmental, social and governance scores in emerging markets of multinationals in Latin America. The study addresses the current research gap on this issue; it develops hypotheses and tests them by applying linear regressions with a data panel drawn from the Thomson Reuters Eikon™ database to analyse data on 104 multinationals from Brazil, Chile, Colombia, Mexico and Peru between 2011 and 2015. The results suggest that the relationship between (...) the ESG score and FP is significantly statistically negative. Furthermore, in examining environmental, social and governance separately to accurately determine each variable’s relationship to multilatinas’ FP, the results reveal a negative relationship. Finally, the empirical analysis provides evidence for a moderating effect of financial slack and geographic international diversification on the relationship between ESG dimensions and firms’ FP. This study furthers understanding of the relationship between ESG dimensions and FP for the Latin American business context. (shrink)

Corporate governance involves balancing the interests of the many stakeholders in a corporation—from shareholders and management to customers and the larger society. Corporate governance also offers the framework for attaining a company’s vision and mission, providing guidance and oversight on a broad spectrum—action plans and internal controls to performance measurement and corporate disclosure. Companies’ Act 2013 has been introduced in India with the primary objective of improving corporate governance practices in Indian corporations. In this paper, we investigate the moderating (...) role of corporate governance practices in large Indian corporations on firm performance, post introduction of Companies’ Act 2013. Specifically, we study the influence of board’s involvement in company’s affairs, board’s diversity, CEO duality, board compensation, and promoters’ involvement in the board. We find sufficient evidence that board involvement and board diversity positively influence firm performance, while CEO duality, board compensation, and promoters’ presence do not have an influence on firm performance. (shrink)

We investigate the implications of using different indicators to assess the sustainability performance of investment funds. In particular, we look into the environmental performance of Dutch government bond funds. We find that it does matter a lot which particular indicator is used. This suggests that funds should be very transparent and straightforward about their non-financial performance. We argue that basically they have three options. First, the industry comes up with a benchmark against which the responsibility of (...) their investments is measured and reported by all funds. Second, the funds make very clear and transparent which particular aspects of sustainability they specifically target and how they keep score. Third, the dashboard approach where the funds report their performance on a well-defined set of indicators. (shrink)

The study investigates the effect of board characteristics and firm performance on disclosure tones by considering DICTION five master variables namely activity, optimism, certainty, realism and commonality tones using a sample of 779 annual reports of GCC listed firms (2012 to 2018). Disclosure tones of the sampled GCC firms were measured through corporate narrative disclosures by DICTION 7.0 software. Then, the ordinary least square regression analysis was conducted. The main findings of the study show that firm performance has (...) a significant effect on disclosure tones in terms of activity, optimism, certainty, and realism tones except for commonality reported tone. Board characteristics have different effects on the five disclosure tones. The study offers a unique contribution to accounting literature as it is one of the first studies in the Gulf region that seeks to examine the relationship between disclosure tones and firm performance as well as board governance. (shrink)

Recent scholarship provides the opportunity for an assessment of the underexplored but promising marriage between science and technology studies and Internet governance research. This article seeks to provide such an assessment by reviewing and discussing, in particular, three volumes: Laura DeNardis’s The Global War for Internet Governance, The Power of Networks: Organizing the Global Politics of the Internet by Mikkel Flyverbom, and Governance, Regulations and Powers on the Internet edited by Eric Brousseau, Meryem Marzouki, and Cécile Méadel. Approaching IG through (...) an STS lens, these authors bring to the fore a number of related issues that political and legal sciences have addressed only incompletely so far, but are crucial to understand today’s governance of the Internet as a complex sociotechnical system of systems. In their research, STS scholars of IG highlight the day-to-day, mundane practices that constitute IG; the plurality and “networkedness” of hybrid devices and arrangements that populate, shape, and define IG processes; the performative function of these arrangements vis-à-vis the virtual, yet very material, worlds they seek to regulate; the invisibility, pervasiveness, and agency of infrastructure. (shrink)

This article empirically examines how the performance of Indian manufacturing corporations is affected by corporate governance practices. The study has used panel data comprising of 76 manufacturing companies listed in BSE, for a consecutive six-year period, from 2015-2016 to 2020-2021. The study has applied panel data regression model to enquire the impact of ownership structure variables; and also board composition variables on firm performance using Tobin's Q and ROA. The findings reveal that ownership structure variables, board size and (...) multiplicity of the board positively affect both ROA and Tobin's Q. While independent board and women director show positive effect on Tobin's Q, the CEO-duality is negatively associated with Tobin's Q. The study suggests policymakers to enhance the multiplicity of directors and gender diversity, to maintain the right proportion of board independency, and to increase the size of board. Policymakers may also restrict the CEO to play dual role.Keywordsboard composition, ownership structure, CEO-duality, Tobin's Q. (shrink)

This paper examines the relationship between performance persistence and corporate governance. We document systematic differences in performance persistence across listed companies in China during 2001–2011, and empirically demonstrate that firms with better corporate governance show higher performance persistence. The results are robust over both the short and long terms. We also find that performance persistence is an important factor in refinancing, and it can lower companies’ costs of borrowing. Overall, our findings offer important implications for business (...) ethics, as we demonstrate how corporate governance can lower companies’ costs of debt. (shrink)

Central banks have accumulated unparalleled power over the conduct of macroeconomic policy. Key for this development was the articulation and differentiation of monetary policy as a distinct policy domain. While political economists emphasize the foundational institutional changes that enabled this development, recent performativity-studies focus on central bankers’ invention of expectation management techniques. In line with a few other works, this article aims to bring these two aspects together. The key argument is that, over the last few decades, central banks have (...) identified different strategies to assume authority over “expectational politics” and reinforced dominant institutional forces within them. I introduce a comparative scheme to distinguish two different expectational governance regimes. My own empirical investigation focuses on a monetarist regime that emerged from corporatist contexts, where central banks enjoyed “embedded autonomy” and where commercial banks maintained conservative reserve management routines. I further argue that innovations towards inflation targeting took place in countries with non-existent or disintegrating corporatist structures and where central banks turned to finance to establish a different version of expectation coordination. A widespread adoption of this “financialized” expectational governance has been made possible by broader processes of institutional convergence that were supported by central bankers themselves. (shrink)

Social capital can serve as informal governance in weak investor-protection regimes. Using hand-collected data on entrepreneurs’ political connections and firm ownership, we construct several original measures of social capital and examine their effect on the performance of entrepreneurial firms in China after their initial public offerings. Political connections or a high percentage of external investors tend to enhance firm performance, but intragroup related-party transactions commonly lead to performance decline. These forms of social capital have a strong influence (...) on the performance of Chinese firms, whereas formal governance variables such as board size or board independence have little effect. Although social capital may serve as an informal governance mechanism and effectively substitute for formal governance mechanisms in an emerging market, this role of social capital raises several ethical concerns, notably the development of rent-seeking and crony capitalism. (shrink)

In this paper, we present and test a theory of how political connectedness affects corporate governance and productive efficiency of firms. Our model predicts that underdeveloped democratic institutions that do not punish political corruption result in political connectedness of firms that in turn has a negative effect on performance. We test this prediction on an almost complete population of Slovenian joint-stock companies with 100 or more employees. Using the data on supervisory board structure, together with balance sheet and income (...) statement data for 2000–2010, we show that a higher share of politically connected supervisory board members leads to lower productivity. (shrink)

Assessment of the quality of governance has so far relied on socioeconomic statistics and expert opinions, while largely neglecting citizens satisfaction with their government in six Asian-Pacific countries: America, Australia, China, India, Japan, and Russia. I found citizen satisfaction with the public services they receive, such as education, healthcare, and public safety, matters most in their assessment of government performance. Individual satisfaction with income, job, and housing also matters. The respondent will disapprove government performance if (...) he or she thinks corruption is serious in government, or elected officials stop caring about citizens once voting is finished. In terms of macro variables, economic condition of a country seems to matters significantly. Especially, if a country's economy is growing fast, citizens are much more likely to be satisfied with government performance. Large within-country variations exist in countries such as China and India, where citizens of different cities or regions may give rather different assessments of government, suggesting many contextual variables not captured by this study. Lastly, citizens evaluation of governance quality, such as the World Bank Governance Index. This raises both methodological and normative issues regarding the proper approaches to measuring good governance. (shrink)

Recent perspectives on community investments suggest that they are opportunities for firms to create value for shareholders and other stakeholders. However, many corporate managers are still influenced by a widely held belief that such investments erode profits and are therefore unjustifiable from an agency perspective. In this paper, we refine and test theory regarding countervailing forces that influence community-based firm performance. We hypothesize that high levels of available slack will be associated with higher community-based performance, but that this (...) relationship will be moderated by three important governance variables: board independence, investment fund ownership, and CEO ownership. We find support for our hypotheses in longitudinal study of a large sample of U.S. corporations. (shrink)

BackgroundData processing of health research databases often requires a Data Protection Impact Assessment to evaluate the severity of the risk and the appropriateness of measures taken to comply with the European Union General Data Protection Regulation. We aimed to define and apply a comprehensive method for the evaluation of privacy, data governance and ethics among research networks involved in the EU Project Bridge Health.MethodsComputerised survey among associated partners of main EU Consortia, using a targeted instrument designed by the principal investigator (...) and progressively refined in collaboration with an international advisory panel. Descriptive measures using the percentage of adoption of privacy, data governance and ethical principles as main endpoints were used for the analysis and interpretation of the results.ResultsA total of 15 centres provided relevant information on the processing of sensitive data from 10 European countries. Major areas of concern were noted for: data linkage, access and accuracy of personal data and anonymisation procedures. A high variability was noted in the application of privacy principles.ConclusionsA comprehensive methodology of Privacy and Ethics Impact and Performance Assessment was successfully applied at international level. The method can help implementing the GDPR and expanding the scope of Data Protection Impact Assessment, so that the public benefit of the secondary use of health data could be well balanced with the respect of personal privacy. (shrink)

We investigate whether the distinct nature of multinational firms (MNC) differently influence the governance-performance relationship compared to the local firms in Pakistan. We used a dynamic system GMM estimator that produces consistent and efficient estimation after controlling for dynamic endogeneity and simultaneity. Our results demonstrate that corporate governance (CG) has a significant positive impact on firm financial performance whilst CG practice of MNC firms is more effective than local firms in Pakistan. We observed two distinct financing behaviours, i.e., (...) ‘pro-active investment behaviour’ of MNC firms and ‘conservative investment behaviour’ of local firms. We conclude that a well-established corporate culture, significant financial worth and firms’ higher growth rate are key determinants of better CG practice. (shrink)

This study intended to examine the effect of information technology (IT) investment and corporate governance mechanism on the performance of the Saudi telecommunication sector with mediating role of corporate social responsibility (CSR). A survey method was used to collect data from the targeted Saudi telecom firm. Results show that corporate governance practices, i.e., internal audit, internal audit committee, and internal board size, have a significant and positive relationship with firm performance. Furthermore, IT investment positively affects the performance (...) of Saudi telecommunication firms. Moreover, CSR mediates the relationship among internal audit, internal audit committee, internal board size, IT investment, and firm performance. This study contributes to the body of knowledge regarding IT investment, corporate governance mechanism, corporate social responsibilities, and firm performance of telecommunication firms in emerging markets. Furthermore, this study will help the top management of the telecom firms to improve corporate governance and IT investment, which will be beneficial to enhance firm performance. (shrink)

This study attempts to examine the relationship between environment, social, and governance management and financial performance and the role of socially responsible investment in the National Pension Fund, Korea’s largest institutional investor. This study tries to provide evidence for the slack resource hypothesis by verifying whether companies with higher financial performance make more efforts to improve ESG performance. In addition, we tried to validate whether NPF is expanding its investments in corporations with high economic performance and (...) high ESG performance. Based on our analysis, Korean companies with good financial performance actively participate in ESG. When we compared the performance between 2019 and 2020, companies with high ESG performance increased regardless of financial performance level, whereas companies with high financial performance and low ESG performance decreased. This represents that the perception and attitude of Korean companies toward ESG management are evolving. NPF has a high investment ratio for firms having a high ratio in both financial and ESG performance. NPF further invested in companies with high ESG performance, even if the financial performance is not decent. This study provides evidence that Korean companies’ interest in ESG management as well as the behavior of socially responsible investment of NPF are rising. (shrink)

This paper demonstrates the role of the governance system and the governance structure in corporate social performance (CSP). By building on a longitudinal study in Dutch finance, it extends the CSP-model of Wood. The extension enables us to study the impact of the institutional environment and the characteristics of a governance structure on CSP. Furthermore, the study confirms Wood’s assumption that anticipating managers are critical in CSP. However, if stakeholders desire structural influence, the governance structure and the governance system (...) offer important opportunities. (shrink)

In January 1959, famous radio DJ Peter Tripp stayed awake for 200 hours in a glass booth on Times Square, exposing his weakening body and distracted sleepless mind to the public. Tripp's playing with the borderlines of consciousness was a media attraction, but the DJ also served as a guinea pig for scientific research. From the late 19th century on, several experts had tried to explore the world of wakefulness by observing stay-awake-men. With their help, researchers tested methods of measuring (...) alertness, validated and modified theories about sleep, and tried to answer the question of how long and under what circumstances human beings, above all workers and soldiers, were able to stay awake and remain efficient and accountable. By reconstructing the history of the stay-awake-men, this article shows how the perception of “being awake” changed over time and thereby points to the historicity of our very basic notions for describing the states of the human mind. (shrink)

Both corruption and subjective wellbeing are of concern to academics and governments. Although some evidence suggests that corruption deteriorates subjective wellbeing, the relationship between perception of official corruption and subjective wellbeing is still unknown. This study aims to examine the link between perceived official corruption and subjective wellbeing in the context of China and whether satisfaction with government performance has a mediating effect in the process. Based on data from China General Social Survey, a structural equation model was (...) used to test the hypotheses. The results of 3,033 Chinese respondents suggest that perception of official corruption is negatively related to subjective wellbeing, and satisfaction with government performance plays a mediating role in the relationship between perception of official corruption and subjective wellbeing. (shrink)

This article draws on the sociology of expectations to examine the construction of expectations of ‘ethical AI’ and considers the implications of these expectations for communication governance. We first analyse a range of public documents to identify the key actors, mechanisms and issues which structure societal expectations around artificial intelligence and an emerging discourse on ethics. We then explore expectations of AI and ethics through a survey of members of the public. Finally, we discuss the implications of our findings for (...) the role of AI in communication governance. We find that, despite societal expectations that we can design ethical AI, and public expectations that developers and governments should share responsibility for the outcomes of AI use, there is a significant divergence between these expectations and the ways in which AI technologies are currently used and governed in large scale communication systems. We conclude that discourses of ‘ethical AI’ are generically performative, but to become more effective we need to acknowledge the limitations of contemporary AI and the requirement for extensive human labour to meet the challenges of communication governance. An effective ethics of AI requires domain appropriate AI tools, updated professional practices, dignified places of work and robust regulatory and accountability frameworks. (shrink)

This paper mainly explores the effect of naive independent directors on firm performance. Using hand-collected data on Chinese listed companies, this study finds that the proportion of naive independent directors is positively associated with firm performance, and an increased proportion of naive independent directors reduce the probability of tunneling of controlling shareholders and financial distress. The findings are robust after using alternative explanatory variables and retro-causality tests. Furthermore, the relation between naive independent directors and firm performance mainly (...) existed in firms with lower shareholdings of the largest shareholder and firms with lower financial leverage. Moreover, this paper finds that firm size, corporate ownership type, and equity balance degree are important factors affecting the appointment of naive independent directors. This paper offers further empirical evidence to the existing research related to naive independent directors and provides an effective way to improve corporate board governance. (shrink)

This study analyzed the sensitivity between fund flow and fund performance with Korean funds, whether there would be a difference in the sensitivity between environmental, social and governance funds and non-ESG funds, and whether there was a difference in sensitivity according to the type of past fund performance. The main results of the analysis are as follows. First, the analysis of the fund flow–performance correlation of Korean funds revealed that they had a negative correlation and the ESG (...) did not affect fund flow. Analysis of the difference in sensitivity between fund flow and performance volatility revealed that there was a negative correlation regardless of the performance measuring method and ESG. Finally, the comparison of fund flow and performance sensitivity according to the type of past fund performance revealed that despite consistent asymmetry, there was little difference in sensitivity asymmetry between ESG funds and non-ESG funds. The results reveal that, unlike the expectation that investors in Korean ESG funds would focus more on non-financial properties like the purpose of investment than on profit, they attach the same importance to fund performance. (shrink)