scholarly journals Implementation of Sharia Business Governance Principles on Regulation of Investment Manager Governance

2021 ◽  
Vol 2 (2) ◽  
pp. 228
Author(s):  
Aang Anzal Muhammad Gofar ◽  
Gemala Dewi
Keyword(s):  
Mutual Fund ◽  
Good Governance ◽  
Supervisory Board ◽  
Reference Standard ◽  
Governance System ◽  
Mutual Fund Manager ◽  
Investment Manager ◽  
Descriptive Approach ◽  
Governance Arrangements ◽  
Current Governance

 Investment Manager (MI) as a sharia mutual fund manager is done in two ways are the establishment of Sharia MI and Sharia Investment Management Unit (UPIS) for conventional MI. Most of conventional MI is not ready to spin off to become a Sharia MI because it is considered the current governance of MI is still low. OJK issued regulation No. 10/POJK.04/2018 on the Implementation of Investment Manager Governance that applies to both. However, the arrangement is still general and has not led to sharia governance system, while Indonesia has good governance guidelines for Sharia Business Governance (GGBS) that can be used as a reference standard. Based on these issues, the author reviewed the principles of GGBS to the extent of their implementation in the regulation of investment manager governance. This research is normative juridical with an analytical descriptive approach. Based on the results of the study the authors found that the governance arrangements of investment managers have not been sufficiently the basis for the implementation of sharia governance because principle of Independence has not been implemented for the ban on multiple positions for the Sharia Supervisory Board and spin off mechanisms for UPIS.

scholarly journals Pengembangan Exchange Trade Fund Syariah Indonesia: Peluang dan Tantangan

2021 ◽  
Vol 7 (1) ◽  
pp. 55
Author(s):  
Azmiana Risca ◽  
Rifqi Muhammad
Keyword(s):  
Capital Market ◽  
Mutual Fund ◽  
Low Cost ◽  
Supervisory Board ◽  
Muslim Community ◽  
Low Literacy ◽  
Investment Opportunities ◽  
Investment Manager ◽  
Islamic Investment ◽  
The Capital Market

This paper aims to discuss the opportunities and challenges of developing Sharia Exchange Trade Fund (ETF) investment products in Indonesia. ETF is an investment product in the capital market that collaborates stock and mutual fund products that can collectively be traded on the capital market. This will provide attractive new investment opportunities for investors who are concerned about sharia investment. With the consideration that Indonesia's population is predominantly Muslim, then of course Islamic investment products will attract them. ETFs have the following advantages: easy and flexible process of ownership and transfer, low cost and risk, wide coverage because they are like investing in several portfolios at once, and the process is transparent. In particular, Islamic ETFs have the advantage in the aspect of ensuring product halalness because their portfolios are always monitored by the sharia supervisory board in each investment manager as the manager. On the other hand, Islamic ETFs are faced with challenges related to the low literacy of the Muslim community about investing in the capital market that has sharia products.

Does gender diversity in supervisory boards affect gender diversity in management boards in Germany? An empirical analysis

2021 ◽  
pp. 239700222199714
Author(s):  
Dennis Fleischer
Keyword(s):  
Fixed Effects ◽  
Structural Equation ◽  
Gender Diversity ◽  
Supervisory Board ◽  
Board Members ◽  
Governance System ◽  
Management Board ◽  
Supervisory Boards ◽  
Gender Quota ◽  
The Impact

Social aspects like gender diversity in the boardroom are becoming increasingly relevant and are a popular topic of public debate in the context of gender equality in business. However, there is little clarity about the potential spill-over effects of gender diversity. Both theory and empirical results have led to ambiguous conclusions with respect to the effect of gender diversity in the supervisory board on gender diversity in the management board. In addition, it is not clear whether the German gender quota legislation positively affects this relationship. This study analyses whether gender diversity in the supervisory board supports the gender diversity of the management board, and whether this relationship is affected by the gender quota legislation, focusing on the unique case of Germany. To cope with endogeneity concerns, this study employs a cross-lagged panel model with fixed effects using maximum likelihood structural equation modelling. The results of the analysis of the impact of the number of female supervisory board members on the number of female management board members do not support the view of positive spill-over effects of gender diversity in the environment of the German two-tier corporate governance system. Furthermore, this study finds no evidence of an effect of the German gender quota on this relationship. JEL Codes G38, M12, M14, M51

scholarly journals Conceptual framework for increasing legitimacy and trust of sustainability governance

2021 ◽  
Vol 11 (1) ◽  
Author(s):  
Inge Stupak ◽  
Maha Mansoor ◽  
C. Tattersall Smith
Keyword(s):  
Good Governance ◽  
Policy Recommendations ◽  
Economic Activities ◽  
Governance System ◽  
Governance Model ◽  
Governance Systems ◽  
Sustainability Governance ◽  
Sustainable Societies ◽  
Key Terms

AbstractWhile the quantity of sustainability governance initiatives and systems has increased dramatically, crises persist over whether specific governance systems can be trusted as legitimate regulators of the sustainability of economic activities. This paper focuses on conceptual tools to improve our understanding of these crises as well as the facilitating factors and barriers for sustainability governance to play a role in transitioning to profoundly more sustainable societies than those that currently exist. Bioenergy is used throughout the paper as an example to aid contextually in understanding the theoretical and abstract arguments. We first define eight premises upon which our argumentation is developed. We then define sustainability, sustainability transition, legitimacy, and trust as a premise for obtaining effectiveness in communication and minimising risks associated with misunderstanding key terms. We proceed to examine the literature on “good governance” in order to reflect upon what defines "good sustainability governance" and what makes governance systems successful in achieving their goals. We propose input, output, and throughput legitimacy as three principles constituting “good” sustainability governance and propose associated open-ended criteria as a basis for developing operational standards for assessing the quality of a sustainability governance system or complex. As sustainability governance systems must develop to remain relevant, we also suggest an adaptive governance model, where continuous re-evaluation of the sustainability governance system design supports the system in remaining “good” in conditions that are complex and dynamic. Finally, we pull from the literature in a broad range of sciences to propose a conceptual “governance research framework” that aims to facilitate an integrated understanding of how the design of sustainability governance systems influences the legitimacy and trust granted to them by relevant actors. The framework is intended to enhance the adaptive features of sustainability governance systems so as to allow the identification of the causes of existing and emerging sustainability governance crises and finding solutions to them. Knowledge generated from its use may form a basis for providing policy recommendations on how to practically solve complex legitimacy and trust crises related to sustainability governance.

scholarly journals Good Governance with Chinese characteristics: A perspective of China's Socialist Model

2015 ◽  
Vol 5 (3) ◽  
pp. 36
Author(s):  
Hans Nibshan Seesaghur
Keyword(s):  
Good Governance ◽  
State Intervention ◽  
Public Affairs ◽  
Governance System ◽  
Public Governance ◽  
Chinese Characteristics ◽  
The World ◽  
New Ideas ◽  
International Standing ◽  
Political Economic

Since the 1990s, scholars around the world have focused on the complexities of governance reforms. The vicissitudes of the 21st century witnessed global waves for public administration reforms. China, a fast developing socialist country, has been building a strong, robust and modern public governance system. The Socialist Governance of China with Chinese characteristics brought considerable changes in the political, economic and social spheres, transforming the lives of people for betterment. By bringing about economic development through state intervention, introducing rule of law upholding the significance of its people, fostering new ideas, and ushering the ideology of nationalism through “China Dream”, President Xi Jinping and his socialist governance policies have created an excellent example in the world, particularly the capitalist society, demonstrating how society can be developed through socialist ways. Yet, the dynamics of Chinese governance has always been part science and part mystery to other governments that have earned legitimacy through elections, while China’s leaders earned its legitimacy through selection of the most able and their performance in delivering sustained improvements in the quality of life of the Chinese citizens and China's international standing. This paper deals with assessing the relevance of China’s Socialist governance evolution into a science of managing public affairs and the pursuit to optimizing its impact on the state’s economic, political and social spheres.

scholarly journals Islamic Corporate Governance and Internal Control Influance on Fraud in Sharia Commercial Banks

2020 ◽  
Vol 1 (1) ◽  
pp. 28
Author(s):  
Mariyam Chairunisa
Keyword(s):  
Corporate Governance ◽  
Internal Control ◽  
Financial Services ◽  
Commercial Banks ◽  
Audit Committee ◽  
Supervisory Board ◽  
Negative Effect ◽  
Descriptive Approach ◽  
Quantitative Descriptive ◽  
Positive Effect

This study aims to examine impact of Islamic Corporate Governance and Internal Control on Fraud on sharia Commercial Bank in Indonesia. The unit analysis of this research is Sharia Commercial Banks in Indonesia which have been registered in the Financial Services Authority (OJK) period 2012 to 2017. This research was done to 11 Islamic commercial banks by using quantitative-descriptive approach. The results of this research showed that Sharia Supervisory Board and Internal Control have negative effect and unsignificant  on Fraud. However, Audit Committee has a positive effect and significant on fraud .

scholarly journals FINANCIAL REPORT PREPARATION TRAINING FOR RT (NEIGBOHOOD UNIT) DEVICES IN RW (HAMLET UNIT) ENVIRONMENT 16 BAROS CITY CIMAHI VILLAGE

Competitive ◽  
2018 ◽  
Vol 13 (1) ◽  
pp. 87
Author(s):  
Kharaningrum Mulyanti ◽  
Riani Tanjung ◽  
Yohanes Casmadi
Keyword(s):  
Community Service ◽  
Central Government ◽  
Good Governance ◽  
Financial Statements ◽  
Social Institution ◽  
Governance System ◽  
Financial Reports ◽  
Financial Report ◽  
Neighborhood Association ◽  
Government Accounting

A good governance system is not only a responsibility that must be carried out by the central government, Neighborhood association as the smallest social institution even responsible for implementing the good governance. One form of implementation can be implemented in the form of financial statements in the area. The implementation of good governance has not been fully realized in all RT neighborhoods in Cimahi City, one of them in RW 16, Baros Village. The Community Service activities are expected to increase the awareness of the neighborhood administrators to prepare financial reports in accordance with the rules of simple government accounting standards. The methods used in this activity include lectures, tutorials, and discussions. This PKM activity went well and got good enthusiasm from the RT administrators, and it was hoped that this activity would be the beginning of the implementation of a good governance system.   Sistem pemerintahan yang baik bukan hanya tanggung jawab yang harus diemban oleh pemerintah pusat, Rukun tetangga sebagai Lembaga kemasyarakatan terkecil sekalipun bertanggung jawab dalam pelaksanaan good governance tersebut. Salah satu bentuk dari pelaksanaannya dapat diimplementasikan dalam bentuk pelaporan keuangan yang ada di area-nya. Pelaksanaan good governance belum sepenuhnya terwujud di seluruh lingkungan RT di Kota Cimahi, salah satunya di RW 16 Kelurahan Baros. Kegiatan Pengabdian Kepada Masyarakat ini diharapkan dapat meningkatkan kesadaran para pengurus RT untuk menyusun laporan keuangan sesuai dengan kaidah standar akuntansi pemerintahan yang sederhana. Metode yang digunakan dalam kegiatan ini meliputi ceramah, tutorial, dan diskusi. Kegiatan PKM ini berjalan lancar dan mendapatkan antusias yang baik dari para pengurus RT, dan diharapkan kegiatan ini menjadi awal dari terlaksananya sistem pemerintahan yang baik

Using Web Sites to Improve Fiscal Transparency

2012 ◽  
pp. 232-260
Author(s):  
Tolga Demirbas
Keyword(s):  
Web Sites ◽  
Public Management ◽  
New Public Management ◽  
Good Governance ◽  
Essential Element ◽  
Public Administrators ◽  
Governance System ◽  
The Public ◽  
Fiscal Transparency ◽  
New Public

Fiscal transparency today is considered as an essential element of both good governance and e-governance. Therefore, in the new public management and budgeting reforms made by governments, it is clearly observed that fiscal transparency is one of the key elements. E-government technologies, and especially the internet, are supportive to the efforts on the part of governments offering unprecedented opportunities to public administrations enabling the dissemination of fiscal information and improving the e-governance system. In Turkey, where there is the tradition of Continental Europe, the reforms made through new laws in early 2000 contain various legal and institutional regulations to improve fiscal transparency and encourage the public administrators to use websites in an attempt to enhance fiscal transparency. This chapter, within the context of evaluating the endeavors in question, examines the websites of municipalities in Turkey in terms of fiscal transparency and eventually presents some suggestions for the improvement of the e-governance system.

A Model for Global Governance of Platforms

2021 ◽  
pp. 255-279
Author(s):  
Robert Fay
Keyword(s):  
Public Health ◽  
Big Data ◽  
Global Governance ◽  
Social Contact ◽  
Economic Prosperity ◽  
Digital Platforms ◽  
Work Shop ◽  
Multi Stakeholder ◽  
Governance Arrangements ◽  
Current Governance

Digital platforms such as Google, Facebook, Twitter, Amazon, and a more recent entrant, Zoom, have provided core societal functions that have enabled us to work, shop, educate ourselves and our children, run businesses, maintain social contact, and receive and disseminate information. At the same time, the uses of these technologies have led to elevated concerns in areas such as surveillance, cyber risks, democracy, public health, competition and monopoly power, and economic prosperity. Current governance arrangements are incoherent and fragmented nationally and internationally—where they even exist. At the same time, they typically reflect vested state and corporate interests that can be very difficult to challenge. The way forward is to create a new institution for the digital realm: a Digital Stability Board (DSB) that would be a multi-stakeholder forum with a remit to create global governance for big data, AI, and the digital platforms, while allowing national variation to reflect different values and cultures while avoiding a race to the bottom in governance. Taking concerted and coordinated action on global governance under a structure such as a DSB will help to ensure that the benefits of the platforms are magnified, and the risks minimized individually and globally.

African Indigenous Leadership Philosophy and Democratic Governance System: Gada’s Intersectionality with Ubuntu

2020 ◽  
Vol 51 (7) ◽  
pp. 727-759
Author(s):  
Abdurahman Abdulahi Aliye
Keyword(s):  
Good Governance ◽  
Leadership Effectiveness ◽  
Team Leadership ◽  
Democratic Governance ◽  
Governance System ◽  
Indigenous Leadership ◽  
Public And Private ◽  
African Leadership ◽  
Organization Leadership ◽  
Public And Private Sector

This paper aims to add to the recent scholarly search for African leadership philosophy to improve leadership effectiveness in Africa. It examines the Oromo Gada system’s democratic governance and leadership principles and argues its relevance to the current and future leadership effectiveness in Oromia, Ethiopia, and Africa. It analyses the literature on the history, culture, and current practices of the Gada system to identify its leadership philosophies. It discusses these principles by comparing with Ubuntu and other indigenous African leadership philosophies on the one hand with UN principles of good governance on the other. Evidences show that in spite of the expansion of modern education and leadership training; there are little or no evidence of leadership effectiveness in Africa. Corruption, poverty, injustice, and lack of legitimacy and accountability have continued to be the images of Africa and its leadership. These leadership failures are attributed to lack of leadership that connects with the societal values and cultures. The adoption of Gada leadership principles of liberty, equality, morality, rule of law, participation and engagement of citizens, decision making by consensus, separation of power and check and balance, decentralized governance, fixed terms office and peaceful transfer of power, accountability, transparency and impeachment of elected leaders, honesty, team leadership and conflict transformation in political, public and private sector organization leadership are discussed. The development and adoption of Gada, Ubuntu, and other indigenous leadership philosophies is recommended as a remedy to Africa’s leadership problems.

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