Impacts of COVID-19 on corporate governance and assurance, international finance and economics, and non-fiction book publishing: some personal reflections

2020 ◽  
Vol 16 (4) ◽  
pp. 629-635
Author(s):  
Stuart Kells
Keyword(s):  
Corporate Governance ◽  
International Finance ◽  
Book Publishing ◽  
Crisis Response ◽  
Public And Private ◽  
Content Type ◽  
For Profit ◽  
Response Planning ◽  
Non Fiction ◽  
Personal Reflections

Purpose The purpose of this paper is to share personal reflections on impacts of the COVID-19 pandemic on corporate governance and assurance, international finance and economics and non-fiction book publishing. The paper is intended both as a time capsule and as input for future governance and assurance reform and crisis response planning and related research. Design/methodology/approach This paper is an informal capturing and distillation of some personal experiences and insights relating to corporate governance and assurance, international finance and economics and non-fiction publishing in the context of the COVID-19 pandemic. Findings A key insight from the essay is that the pandemic has had diverse and wide-ranging impacts, many of which are likely to persist beyond the immediate response and recovery periods. The impacts have been felt across the public and private sectors, the for-profit and not-for-profit sectors and different industries. Originality/value The author, based in Melbourne, Australia, had an unusually diverse and multi-faceted experience of the pandemic. The essay concludes with directions for further research.

Funding higher education through waqf: a lesson from Pakistan

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Muhammad Usman ◽  
Asmak Ab Rahman
Keyword(s):  
Higher Education ◽  
Educational Institutions ◽  
Public And Private ◽  
Content Type ◽  
For Profit ◽  
Not For Profit ◽  
Academic Activities ◽  
Higher Educational ◽  
The Government

Purpose This paper aims to study waqf practice in Pakistan with regard to its utilisation in funding for higher educational institutions (HEIs) and investigates waqf raising, waqf management and waqf income utilisation. Design/methodology/approach The paper is based on the views of 11 participants who are actively involved in the waqf, its raising, management and income utilisation, and is divided into three subcategories: personnel of higher educational waqf institution, personnel of waqf regulatory bodies and Shari’ah and legal experts as well as archival records, documents and library sources. Findings In Pakistan, both public and private awqaf are existing, but the role of private awqaf is greater in higher education funding. However, due to lack of legal supervision private awqaf is considered as a part of the not-for-profit sector and legitimately registered as a society, foundation, trust or a private limited company. Waqf in Pakistan is more focusing on internal financial sources and waqf income. In terms of waqf management, they have firm guidelines for investing in real estate, the Islamic financial sector and various halal businesses. Waqf uses the income for developmental and operational expenditure, and supports academic activities for students and staff. Waqfs are also supporting some other HEIs and research agencies. Thus, it can be revealed that a waqf can cater a sufficient amount for funding higher educational institutions. Research limitations/implications In Pakistan, both public and private awqaf are equally serving society in different sectors, but the role of private awqaf is much greater in funding higher education. Nevertheless, the government treats private awqaf as a part of not-for-profit sector in the absence of a specific legal framework and registers such organisations as society, foundation, trust or private limited company. The waqf in Pakistan mostly relies on internal financial resources and income from waqf assets. As the waqf managers have over the time evolved firm guidelines for investment in real estate, Islamic financial sector and various other halal businesses, and utilisation of waqf income on developmental and operational expenditures, academic activities of students and educational staff, other HEIs and research agencies, it can be proved that the waqf can potentially generate sufficient amount for funding HEIs. Practical implications The study presents the waqf as a social finance institution and the best alternative fiscal instrument for funding works of public good, including higher education, with the help of three selected waqf cases. Hence, the paper’s findings offer some generalisations, both for the ummah at large and Pakistan. Social implications The paper makes several policy recommendations for policymakers, legislators and academicians, especially the government. As an Islamic social finance institution, the waqf can help finance higher education anywhere around the world in view of the fact that most countries grapple with huge fiscal deficits and are hence financially constrained to meet growing needs of HEIs. Originality/value The study confirms that the waqf can be an alternative source for funding higher education institutions whether it is managed by the government or is privately controlled.

A framework for incorporating implementation indicators of corporate governance for municipalities in South Africa

2018 ◽  
Vol 18 (4) ◽  
pp. 581-593
Author(s):  
Peter Masegare ◽  
Mpho Ngoepe
Keyword(s):  
South Africa ◽  
Corporate Governance ◽  
Local Government ◽  
Service Delivery ◽  
Succession Planning ◽  
Social Impact ◽  
Good Governance ◽  
Public And Private ◽  
Content Type ◽  
Government Sector

Purpose This paper aims to develop a framework for incorporating implementation indicators of corporate governance for municipalities in South Africa. In South Africa, there is a corporate governance framework (King III report) that is regarded as a seminal work applicable to both the public and private sectors. Despite its existence, municipalities still struggle to provide services to the citizens due to poor implementation. The poor corporate governance implementation in municipalities led to several issues such as loss of credibility for local government, little interests from investors to invest in municipalities, service delivery protests from communities, maladministration and unexpected change of leadership in municipalities without succession planning in South Africa. Design/methodology/approach The study conducted literature review to demonstrate the need for a framework to implement corporate governance in South Africa. Findings It is evident from the study that the municipal sector could improve its performance and practices of corporate governance, if the underpinning framework is adopted and implemented as a sector framework. The integration of governance elements during the development of the municipal sector integrated development plan (IDP) will facilitate a coherent base for good governance implementation practices. Research limitations/implications This research would go a long way in bringing out the anomalies that paralyse municipalities, the root causes of inefficiency and possible ways to rectify them. Practical implications This study offers a framework that can help the local government sector to improve on service delivery. Implementation of the framework can also assist municipalities in obtaining clean audits from the supreme audit institutions in their respective countries. Social implications The study has a huge social impact as it would help municipal officials take notice of the issues raised and act accordingly thus improving the life of citizenry. Originality/value This study adds value to the existing theoretical and conceptual issues that form the ongoing discourse on the implementation of corporate governance in local government, especially in South Africa, as the country is characteristic by corruption and maladministration.

Corporate governance and records management in private and public hospitals in Ghana

2017 ◽  
Vol 27 (1) ◽  
pp. 42-56
Author(s):  
Kingsley Opoku Appiah ◽  
Kon-Naah Moomin Amos ◽  
Jebuni Bashiru ◽  
Palamin Habib Drammeh ◽  
Sharita Tuffour
Keyword(s):  
Corporate Governance ◽  
Significant Relationship ◽  
The Body ◽  
Public Hospitals ◽  
Least Square ◽  
Records Management ◽  
Public And Private ◽  
Content Type ◽  
Private And Public ◽  
Management Staff

Purpose This paper aims to explore the link between corporate governance and records management in hospitals in Ghana. Design/methodology/approach Questionnaires are used to collect data from 500 management staff from 85 hospitals (public and private). The respondents comprise 134, 211, 100 and 55 from the Eastern, Ashanti, Northern and Upper West Regions in Ghana, respectively. Three-stage least-squares and ordinary least square regressions are used to establish the relationship between corporate governance and records management. Findings Corporate governance exhibits a positive and significant relationship with security and records management. Records management, in turn, displays a positive and significant relationship with security, transparency, corporate governance and region, but not accountability. Research limitations/implications The study is based on 85 hospitals consisting of 20 private and 65 public hospitals across four regions out of ten in Ghana, implying that the findings may not be applicable in the six regions omitted. Practical implications The findings may assist hospital management within the sub-Sahara Africa to design training programs on records management and/or corporate governance. Originality/value This study adds to the body of knowledge about records management and corporate governance from the sub-Sahara perspective. Specifically, the authors widen the scope on corporate governance and records management by emphasising on management, a marked departure from other studies conducted on Ghana.

Effect of bank-specific and governance-specific variables on the productivity and profitability of banks

2016 ◽  
Vol 65 (8) ◽  
pp. 1057-1074 ◽  
Author(s):  
Karam Pal Narwal ◽  
Shweta Pathneja
Keyword(s):  
Corporate Governance ◽  
Private Sector ◽  
Banking Sector ◽  
Malmquist Productivity Index ◽  
Productivity Index ◽  
Public And Private ◽  
Content Type ◽  
Performance Variables ◽  
And Performance ◽  
Public And Private Sector

Purpose The purpose of this paper is to analyze the effect of bank-related variables and corporate governance-related variables on the productivity and profitability of public and private sector banks in India. Design/methodology/approach The Malmquist productivity index is applied to determine the productivity of different banks. Further, return on average assets is used as profitability of banks. The regression analysis is further used to assess the effect of different bank-related and governance-related variables on performance of banks. Findings Nearly all the bank-specific variables explain the productivity and profitability of banks but a weak relationship is observed between individual governance variables and performance variables. Two governance variables, i.e. board meetings and remuneration explicate the profitability of the public sector banks and only duality explains the profitability of the private sector banks. No significance is found between productivity and governance variables. Originality/value The study addresses the embryonic issue of corporate governance in the banking sector. The uniqueness of the paper lies in that no study has evaluated the effect of these variables on productivity and profitability of banks simultaneously.

“Not-for-profit” leaders take a different route

2015 ◽  
Vol 31 (2) ◽  
pp. 16-18
Keyword(s):  
Design Methodology ◽  
Reading Time ◽  
Third Sector ◽  
Public And Private ◽  
Content Type ◽  
The Public ◽  
For Profit ◽  
Not For Profit ◽  
Pertinent Information ◽  
Practical Implications

Purpose – This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach – This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings – This paper examines some of the issues facing leaders of not-for-profit organizations, and considers ways in which this “third sector” is both similar to and different from the way that things operate in the public and private arenas. Practical implications – This paper provides strategic insights and practical thinking that have influenced some of the world’s leading organizations. Originality/value – This briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Board restructuring and successful demutualization: the stock exchanges

2018 ◽  
Vol 31 (3) ◽  
pp. 598-618 ◽  
Author(s):  
Laura Padilla-Angulo ◽  
Faten Ben Slimane
Keyword(s):  
Corporate Governance ◽  
Positive Impact ◽  
Stock Exchanges ◽  
Board Composition ◽  
Content Type ◽  
For Profit ◽  
Fine Grained ◽  
The Board Of Directors ◽  
The Impact ◽  
A Company

Purpose The purpose of this paper is to study corporate governance restructuring strategies of companies to adapt to new market conditions following conversion into a for-profit structure. It focuses on the changes in the composition of the board of directors. Design/methodology/approach The paper conducts a field experiment using stock exchanges, which have become more international over time, and many of which have been forced to demutualize and convert to for-profit structures to compete more efficiently. The paper does a fine-grained analysis of restructuring in the composition of the board using the ANOVA technique. The paper also examines the impact of this board composition restructuring on the reputation of the exchanges using a regression technique. Findings The authors find that the stock exchanges restructured board composition and refocused them to create better value. Results suggest that the conversion of a company to a for-profit structure brings efficiencies when accompanied by changes in the governing bodies. The authors also find that converting to for-profit firms had a positive impact on the reputation of the exchanges. The positive impact was even greater when accompanied by changes in board composition. Research limitations/implications A stronger focus on the corporate governance dimension to understand the successful demutualization of stock exchanges is needed. Originality/value The authors analyze the corporate governance dimension during demutualization processes of an under examined sector. The financial performance of the stock exchanges the authors study significantly improved after their conversion to for-profit organizations and provide an example of successful corporate governance restructuring.

Effect of corporate social responsibility on nonfinancial organizational performance: evidence from Yemeni for-profit public and private enterprises

2016 ◽  
Vol 12 (2) ◽  
pp. 247-262 ◽  
Author(s):  
Eyad Al-Samman ◽  
Murad Mohammed Al-Nashmi
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Organizational Performance ◽  
Private Enterprises ◽  
Public And Private ◽  
Content Type ◽  
For Profit ◽  
Nonfinancial Measures ◽  
Significant Difference ◽  
Corporate Social

Purpose This paper aims to explore the relationship between corporate social responsibility (CSR) and nonfinancial organizational performance (NFOP) of for-profit public and private enterprises in Yemen. It also aims to find whether there is a significant difference of the level of adopting CSR as a periodic activity between business-related public enterprises known as state-owned enterprises (SOEs) and private enterprises. Design/methodology/approach Empirical analyses were conducted on a sample comprising 103 for-profit public and private enterprises. Relationship between CSR and NFOP was examined using multiple regression analyses whereas t-test analysis was used to find any significant difference in adopting CSR activities between SOEs and private enterprises operating in Yemen. Findings The four components of CSR (i.e. economic, legal, ethical and philanthropic) have positive significant relationships with NFOP when measured separately in private enterprises and in both SOEs and private enterprises as a whole entity. Conversely, there was insignificant influence of CSR on NFOP when examined separately in only SOEs. Furthermore, there was no statistically significant difference between SOEs and private enterprises concerning the level of adopting periodically CSR activities. Research limitations/implications Having potential personal preferences among respondents was among the major limitations of this study. Moreover, using nonfinancial measures for assessing NFOP forms another key limitation. Practical implications Having potential personal preferences among respondents was among the major limitations of this study. Moreover, using nonfinancial measures for assessing NFOP forms another key limitation. Originality/value This is one of the first papers discussing the influence of CSR on NFOP which has been given less remarkable attention in the literature compared to financial organizational performance. Moreover, the paper investigates CSR effects on NFOP in Yemen which belongs to the Third World countries.

The Role of the Business Sector in Global Health Politics

2018 ◽  
pp. 385-408
Author(s):  
Kelley Lee ◽  
Julia Smith
Keyword(s):  
Collective Action ◽  
Global Health ◽  
Business Sector ◽  
Policy Debate ◽  
Public And Private ◽  
Health Politics ◽  
For Profit ◽  
Goods And Services ◽  
Private Interests ◽  
Health Related

The influence of for-profit businesses in collective action across countries to protect and promote population health dates from the first International Sanitary Conferences of the nineteenth century. The restructuring of the world economy since the late twentieth century and the growth of large transnational corporations have led the business sector to become a key feature of global health politics. The business sector has subsequently moved from being a commercial producer of health-related goods and services, contractor, and charitable donor, to being a major shaper of, and even participant in, global health policymaking bodies. This chapter discusses three sites where this has occurred: collective action to regulate health-harming industries, activities to provide for public interest needs, and participation in decision-making within global health institutions. These changing forms of engagement by the business sector have elicited scholarly and policy debate regarding the appropriate relationship between public and private interests in global health.

Understanding decoupling in response to corporate governance reform pressures

2015 ◽  
Vol 23 (4) ◽  
pp. 369-382 ◽  
Author(s):  
Mario Krenn
Keyword(s):  
Corporate Governance ◽  
Design Methodology ◽  
Good Governance ◽  
Regulatory Change ◽  
Compliance Monitoring ◽  
Governance Reform ◽  
Firm Level ◽  
Content Type ◽  
Good Corporate Governance ◽  
Actual Use

Purpose – The purpose of this article is to explain under what circumstances firm-level adoption of codes of good corporate governance will more likely be superficial rather than substantive in nature. The article contains lessons for any agency or country that attempts to implement deep and lasting changes in corporate governance via codes of good corporate governance. Design/methodology/approach – The article reviews the literature on compliance with codes of good corporate governance and develops a conceptual model to explain why some firms that have formally adopted a code of good governance decouple this policy from its actual use. Findings – Decoupling in response to the issuance of codes of good corporate governance will be more attractive to firms and also more sustainable under the following conditions: firms’ compliance costs are relatively high firms’ costs of outright and visible non-compliance are relatively high and outsiders’ compliance monitoring costs are relatively high. Originality/value – The article contributes to the debate on compliance and convergence and provides policymakers with a conceptual framework for assessing the likelihood of successful regulatory change in corporate governance.

Relationship between CSR motivations and corporate social performance: a study in the power industry in India

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Moumita Acharyya ◽  
Tanuja Agarwala
Keyword(s):  
Public Sector ◽  
Private Sector ◽  
Corporate Social Performance ◽  
Social Performance ◽  
Power Sector ◽  
Public And Private ◽  
Content Type ◽  
The Public ◽  
Self Interest ◽  
Public And Private Sector

PurposeThe paper aims to understand the different motivations / reasons for engaging in CSR initiatives by the organizations. In addition, the study also examines the relationship between CSR motivations and corporate social performance (CSP).Design/methodology/approachThe data were collected from two power sector organizations: one was a private sector firm and the other was a public sector firm. A comparative analysis of the variables with respect to private and public sector organizations was conducted. A questionnaire survey was administered among 370 employees working in the power sector, with 199 executives from public sector and 171 from private sector.Findings“Philanthropic” motivation emerged as the most dominant CSR motivation among both the public and private sector firms. The private sector firm was found to be significantly higher with respect to “philanthropic”, “enlightened self-interest” and “normative” CSR motivations when compared with the public sector firms. Findings suggest that public and private sector firms differed significantly on four CSR motivations, namely, “philanthropic”, “enlightened self-interest”, “normative” and “coercive”. The CSP score was significantly different among the two power sector firms of public and private sectors. The private sector firm had a higher CSP level than the public sector undertaking.Research limitations/implicationsFurther studies in the domain need to address differences in CSR motivations and CSP across other sectors to understand the role of industry characteristics in influencing social development targets of organizations. Research also needs to focus on demonstrating the relationship between CSP and financial performance of the firms. Further, the HR outcomes of CSR initiatives and measurement of CSP indicators, such as attracting and retaining talent, employee commitment and organizational climate factors, need to be assessed.Originality/valueThe social issues are now directly linked with the business model to ensure consistency and community development. The results reveal a need for “enlightened self-interest” which is the second dominant CSR motivation among the organizations. The study makes a novel contribution by determining that competitive and coercive motivations are not functional as part of organizational CSR strategy. CSR can never be forced as the very idea is to do social good. Eventually, the CSR approach demands a commitment from within. The organizations need to emphasize more voluntary engagement of employees and go beyond statutory requirements for realizing the true CSR benefits.

Sign in / Sign up

Export Citation Format

Share Document