Governance Mechanism, Intell ectual Capita l Disclosure, a nd Firm Value

This study entitled the influence of corporate governance mechanism on firm value with intellectual capital disclosure as an intervening variable. This study aims to examine the direct and indirect effect of board size, gender diversity, educational background, block holder ownership, and foreign ownership both simultaneously and partially on intellectual capital disclosure and firm value. This study examines the mediating effect of intellectual capital disclosure in the relationship between corporate governance mechanism and firm value. This study used the companies included in intellectual capital intensive industries in Indonesia Stock Exchange as the sample for 2017-2019. The sampling technique used in this study was purposive sampling, with 243 data from 81 companies. Analysis techniques used in this study were statistic descriptive, multiple regression, and path analysis used SPSS 23 for windows. The hypothesis testing results show that corporate governance mechanisms simultaneously influence intellectual capital disclosure (ICD) and firm value. Partially, only board size influences both ICD and substantial value, and educational background only influences strong value. The Sobel test shows that ICD doesn't mediate the effect of all variables related to corporate governance mechanism on firm value.

The Development and Issues of Energy-ICT: A Review of Literature with Economic and Managerial Viewpoints

This paper reviews the economic and managerial literature on the relationship between energy-ICT and the development of the green energy economy. It is summarized that there are four lines of existing literature on energy-ICT: cost and benefit analysis, fair competition issues, cybersecurity issues, and promotion policy issues. Even though ICT is energy-consuming, most of the existing empirical studies support the idea that energy-ICT has net positive effects on energy savings, energy efficiency improvement, emission reduction, and economic growth at both enterprise and economy-wide levels. Energy-ICT equips the platform operator with higher bargaining power, such that a governance mechanism to assure the fair access right of each entitled participant is required. A smarter energy-ICT network also becomes riskier, and hence the cybersecurity protection is more important than before. Future research and development opportunities remain on these issues of the fair competition, cybersecurity, and promotion policy of energy-ICT.

The Role of the Digital Economy in Rebuilding and Maintaining Social Governance Mechanisms

The digital transformation has impacted society at different levels, mainly on the economic and governance levels. This paper investigates the impact of the digital economy on social governance mechanisms. Additionally, it captures the indirect effects or mediating forces such as social reforms and a sustainable digital economy. The study followed a positivism philosophy, and it is survey research influencing cross-sectional study. The unit of analysis in the current paper was employees from four different professions as economists, financial analysts, managers, and teachers. The random sampling technique was used as a sampling type, and a questionnaire was used for data collection. Structural equation modeling (SEM) was carried out as a data analysis technique. The research findings revealed that the digital economy has a favorable impact on the social governance mechanism. Likewise, the digital economy positively affects social reforms and a sustainable digital economy. Social reforms also proved to link with a sustainable digital economy positively. The output of the indirect effects and structural model confirmed that social reform played a partial mediation role between the digital economy and sustainable digital economy. Moreover, a sustainable digital economy confirmed a partial mediation between the digital economy and the social governance mechanism. Finally, analysis confirmed a serial mediation among digital economy, social reforms, sustainable digital economy, and social governance mechanism. Therefore, policymakers and government agents should improve the digital economy to have a strong social governance mechanism.

Supply Chain Governance of Agricultural Products under Big Data Platform Based on Blockchain Technology

The present work serves to improve the stable cooperation relationship among subjects of supply chain such as enterprises, farmers, intermediary organizations, and retailers and enhance the governance and optimization of agricultural product supply chain, thus strengthening the competitiveness of China’s agricultural industry. The supply chain governance of agricultural products is taken as the research object. Initially, the stabilities of two supply chain organization modes, “company and farmer” and “company, intermediary organization and farmer,” are analyzed by static game analysis. Then, based on the above analysis and the characteristics of blockchain institutional technology, a detailed analyzation is made on the mechanism of supply chain of agricultural products governance based on blockchain technology. Finally, the functional framework of agricultural supply chain governance is designed based on the basic framework of blockchain technology, and analyzation is made on the trust mechanism and contract mechanism of agricultural supply chain governance based on blockchain technology. The research results show that problems such as information and cognitive constraints in agricultural supply chain governance cannot be completely solved only through the evolution of blockchain organizational structure and the supply of governance mechanism, and speculative behavior will still appear. Optimizing the governance of supply chain of agricultural products based on blockchain technology can realize the transformation of its governance scenario. Meanwhile, the blockchain technologies such as deintermediation, demistrust, and intelligent contract play an important role in the process of agricultural supply chain governance, which can make it change in many aspects such as organization mode, application operation, and governance mechanism. The rapid development of new generation information technologies such as blockchain, the Internet of Things, and computer technology makes it possible to comprehensively digitize economic activities such as production and transaction in the supply chain of agricultural products. The present work combines the technical logic of blockchain digital governance with the institutional logic of agricultural product supply chain governance and tries to solve the instability problems caused by imperfect organization, lack of trust, and incomplete contract in agricultural product supply chain governance with the characteristics of blockchain such as deintermediation, demistrust, and intelligent contract.

Measuring Project Governance of Mega Infrastructure in China: A Scale Development Study

This study builds a measurement framework of project governance for mega-infrastructure considering the institutional situation of mega-infrastructure projects in China, including contractual governance, relational governance, and governmental governance. The factors of governmental governance are identified by the method of grounded theory with six cases of megaprojects, and the measures of project governance for mega-infrastructure are refined by expert interviews. The 235 questionnaires are collected, and exploratory factor analysis is used to identify six factors of the governance mechanism for mega-infrastructure projects. The scales are developed, and reliability and validity tests are conducted. Results indicate that (1) the governmental governance mechanism includes government decision, government supervision, and government coordination. (2) The three-dimensional framework of project governance is established as “contractual–relational–governmental” in the field of mega-infrastructure. (3) The measurement scales of project governance are developed and validated for mega-infrastructure, including government regulation, government coordination, risk sharing, revenue distribution, relationship maintenance, and cultural development. This research contributes to (a) the state of the knowledge by gaining a holistic and comprehensive understanding of project governance in mega-infrastructure in China, and (b) the state of the practice by providing a tool for measuring project governance in mega-infrastructure.

The Role of Independend Commisioners in Moderating the Effect of Profitability, Company Size and Company Risk on Tax Avoidance

The purpose of this study was to determine and analyze the the role of Independent Commissioners in moderating the effect of profitability, company size, and company risk on tax avoidance in manufacturing companies on the Indonesia Stock Exchange period 2016-2018 with a total of 77 companies. The sampling technique in this study used a purposive sampling technique with a total observation are of 231 firm-years. With multiple regression analysis, this research showed that the Company’s Profitability and Risk had a significant positive effect on Tax Avoidance, while Company Size did not have a significant effect on Tax Avoidance. The Independent Commissioners succeeded in weakening the positive influence of profitability and company risk on tax avoidance.This research succeeds in proving that as a component of the corporate governance mechanism, the Independent Commissioner has a role in supervising managerial decisions, including tax decision.

Research on micro governance path of high-level professional group construction

Under the background of “double high plan”, higher vocational colleges combine the industrial background, strengthen the connection between industrial chain and professional chain. Therefore, colleges and universities delegate power to secondary colleges. Secondary colleges independently improve the grass-roots governance mechanism according to the logic of professional groups, which will help to optimize the power allocation mode, and strengthen the construction of professional organizations. The functions of professional resource allocation, power distribution and operation mechanism, so as to provide management guarantee for the construction of high-level professional groups.

A supply chain resilience model for business continuity: The way forward for highly regulated industries

The COVID-19 outbreak is a black swan event that has uncovered the delicateness of global supply chains and business architecture. Underpinned by the agency theory and institutional theory, a proposition for business continuity in the highly regulated pharma industry is presented in this paper. A cross-sectional quantitative study was carried out on a sample of 102 pharma supply chain executives in Malaysia. The primary data were gathered by administering a self-administered questionnaire and analyzed using the partial least squares structural equation modelling (PLS-SEM). The result reveals that supply chain orientation directly influences supply chain resilience. Also, introducing collaborative regulation as a mediator in this relationship shows partial mediation. The notion of collaborative regulation as a behavioral governance mechanism is relatively new, thus, presenting interesting opportunities for further exploration of the subject matter.

The Role of Islamic Law in Convergence to Western Corporate Governance Features in Pakistan

This article examines the role of Islamic Law in convergence to western corporate governance features in Pakistan. The recent financial crisis in the world highlighted the importance of good corporate governance features. This phenomenon highlighted the possibility of adopting an alternative to conventional financial system in Pakistan. Islamic finance has shown its presence in the wake of financial crisis in the world. Therefore, this articles analyses, in comparative perspective, the Islamic financial system viz a viz conventional financial system. It further analyses the possibility of convergence of corporate governance mechanism, which is key for good governance in any financial system, in Pakistan. It concludes that Islamic Financial System may be adopted as alternative financial system as well as corporate governance mechanism may be converged to western corporate governance features in Pakistan. However, while doing so Islamic norms may act as a litmus test which may not be as problematic as it appears at first sight.