Journal of Governance and Regulation

Journal Information
ISSN / EISSN : 2220-9352 / 2306-6784
Published by: Virtus Interpress (10.22495)
Total articles ≅ 639
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SCOPUS
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Latest articles in this journal

Guido Giovando
Published: 21 October 2022
Journal of Governance and Regulation, Volume 11, pp 4-6; https://doi.org/10.22495/jgrv11i4editorial

Abstract:
We are glad to share with you the recent studies from the Journal of Governance and Regulation. The authors of the papers published in this issue of the journal provide a serious contribution to the previous research in the field.
Fellanze Pula
Published: 10 October 2022
Journal of Governance and Regulation, Volume 11, pp 179-190; https://doi.org/10.22495/jgrv11i4art17

Abstract:
The application of co-creation is important and traditionally proves that banks that offer products and services without taking into account the opinions and recommendations of customers have the opportunity to remain focused on the bank and not be successful (Keshavarz & Jamshidi, 2018). In many organizations, especially those dealing with services, customer satisfaction is considered a challenge. Customer satisfaction influences customer loyalty and a loyal customer is a constant source of revenue, and satisfied customers do not focus on replacement products found on the market. From this, we conclude that customer satisfaction increases loyalty and reduces opposition to the products and services that the company offers (Jaakkola, Helkkula, & Aarikkula-Stenroos, 2015). This study aims to measure the impact of co-creation value through the DART (dialogue, access, risk assessment, and transparency) model on customer satisfaction and customer loyalty. The method used to answer the research questions is the quantitative method, where data were collected through primary research; the population of this study is the customers of all commercial banks in Kosovo, where the sample was 300 customers of randomly selected banks. Based on the research results, referring to Spearman’s rho correlation we conclude that co-creation with customer satisfaction and customer loyalty are in direct proportion. According to the ordinary least squares (OLS) model, we conclude that co-creation affects customer satisfaction and customer loyalty. Through this research, banking structures have the opportunity to increase customer satisfaction and create loyalty to customers through the co-creation process, strengthening its components such as dialogue, access, risk assessment, and transparency.
Indah Anisykurlillah, , Zulaikha Zulaikha
Published: 7 October 2022
Journal of Governance and Regulation, Volume 11, pp 168-178; https://doi.org/10.22495/jgrv11i4art16

Abstract:
Fraud is still a problem in the banking industry. Association of Certified Fraud Examiners (ACFE) reported that banks experienced the highest number of fraud cases compared to other types of businesses. This study aimed to demonstrate the effect of the audit committee’s size, gender, expertise, independence, and employee well-being on employee fraud. The study on fraud uses questionnaire data to identify employee fraud (Fathi, Ghani, Said, & Puspitasari, 2017; Nawawi & Salin, 2018). We complement the previous study by using the number of cases as an indicator of employee fraud. Using a sample of 14 Islamic banks, we find that audit committee members’ accounting expertise and employee well-being can influence employees’ willingness to commit fraud. After overcoming the problem of endogeneity and robustness tests, the results of our study were consistent. The number of audit committee members, gender, and independence have not impacted fraud control. The expertise of the audit committee and employee well-being can be an effective internal control system in reducing fraud. This study adds to previous studies that have explained fraud by using employee perceptions and financial ratio indicators to detect director fraud. This study uses the number of employee fraud cases reported by the bank.
Awwad Alnesafi
Published: 6 October 2022
Journal of Governance and Regulation, Volume 11, pp 154-167; https://doi.org/10.22495/jgrv11i4art15

Abstract:
The purpose of the paper was to investigate the socio-economic and political processes that influenced Kuwait’s budget reforms in the wake of declining oil prices. A qualitative study and a literature review were adopted and informed by political economy theory to generate in-depth insights into similar and different socio-economic and political processes that influenced the adoption and implementation of a range of budget reforms in Kuwait. The study revealed that the budget reforms in Kuwait, as part of the austerity measures, were influenced by the dwindling oil revenues; the entrenched welfare system; the power struggles between the state actors; and the strategic partnerships and coercive role of supranational agencies, especially in creating an enabling environment for global capitalism. The paper demonstrates how the socio-economic and political environment influences and is influenced by the strategic accounting choices and practices adopted and implemented. Budget reforms in Kuwait were proposed to address the socio-economic and political realities of the day, but also, the reforms prepared fertile grounds to support global capitalism. The paper contributes to the debate on the political economy and how it is relevant in understanding the socio-economic and political processes involved in the adoption and implementation of accounting changes, especially in developing countries.
Nazmi Iballi, Remzi Smajli,
Published: 4 October 2022
Journal of Governance and Regulation, Volume 11, pp 147-153; https://doi.org/10.22495/jgrv11i4art14

Abstract:
The neoclassical Solow-Swan economic growth theory of 1956, also known as the exogenous growth model, advocates for the accumulation of physical capital as an important driver of economic growth in the short run, while technological advancement is the key determinant of economic growth in the long run (Chirwa & Odhiambo, 2016). The main aim of this study is to measure the impact of some key macroeconomic factors, which influence the economic growth of a developing country, in our case, the Republic of Kosovo. This study uses secondary data from The World Bank Indicators for the time period 2010–2020. In this study, the ordinary least squares (OLS) econometric model is employed, the dependent variable used is the gross domestic product (GDP) growth, and the independent variables used are private consumption, remittances, export, and employment. Growth in an economy is measured by a change in the volume of its output or the real expenditure or income of its residents (The World Bank, n.d.-d). The study comes to the conclusion that the OLS model is important under the study circumstances thus the independent variables such as consumption, employment, exports, and remittances have a positive impact on Kosovo’s economic growth measured by GDP. The study comes with further recommendations such as increasing employment, using more effectively the remittances received from the diaspora, and increasing the exports for Kosovo to gain economic growth and sustainability.
Christina D. Patitsa, Kyriaki Sotiropoulou, Venetia Giannakouli, Alexandros G. Sahinidis, Panagiotis A. Tsaknis
Published: 30 September 2022
Journal of Governance and Regulation, Volume 11, pp 136-146; https://doi.org/10.22495/jgrv11i4art13

Abstract:
The COVID-19 pandemic has affected the lives of people worldwide. Governments struggled to persuade citizens to obey ongoing lockdowns and social restrictions to fight the transmission of the virus. The purpose of this paper is to investigate the impact of prosocial behavior during COVID-19 and big-five personality traits on compliance with health-protective behavior against COVID-19. To examine possible predictors an online questionnaire was delivered to undergraduate students at a public university of Athens during the second phase of the pandemic (November 2020). A mediation analysis was performed to test the relationships among variables. The sample consisted of 239 business school students and the results revealed that two of the big-five personality traits of young adults, conscientiousness, and neuroticism, can be linked with a positive attitude to following heath precautions and recommendations while conscientiousness and agreeableness are predictors of young adults’ prosociality behavior to cope with the COVID-19 pandemic. Finally, the results indicated that there is not any effect of young adults’ personality traits on health recommendation through the mediation of prosociality. The results will contribute to the recent literature (Campos-Mercade, Meier, Schneider, & Wengström, 2021; Miles, Andiappan, Upenieks, & Orfanidis, 2021) on the factors influencing prosocial decision-making regarding the pandemic.
Priscilla Baatseba Monyai, Shylet Yvonne Chivanga, Thapelo Monyai, Sikhanyiso Ndlovu
Published: 29 September 2022
Journal of Governance and Regulation, Volume 11, pp 123-135; https://doi.org/10.22495/jgrv11i4art12

Abstract:
South Africa’s municipalities have been called upon to provide potable clean water and to empower local communities to participate in water supply management in view of the Sustainable Development Goals (SDGs) of the United Nations. However, despite such efforts, access to piped water is dwindling and disparities in the distribution of water are growing (Mkize, 2021). This paper aimed to explore the existing policy and institutional frameworks that enhance or inhibit communities’ roles as water services intermediaries in the Eastern Cape and Free State provinces of South Africa. This article adopted the qualitative research methodology in presenting the findings and the analysis of data from communities and government and non-governmental organisations (NGOs) officials’ narratives on the factors that enhance or inhibit communities’ participation in water management. The findings highlight that, despite South Africa’s elaborate legal frameworks for water governance, South Africa has not managed to achieve water equity or to engage meaningfully with beneficiary communities as part of water management. Water inequalities are still predominantly characteristic of formerly excluded areas in the villages, townships, and informal settlements, and have grown in tandem with overall social and economic inequalities that are making South Africa the most unequal country in the world.
, Sugi Suhartono, Mas Budi Widiyo Iryanto, Dergibson Siagian,
Published: 27 September 2022
Journal of Governance and Regulation, Volume 11, pp 112-122; https://doi.org/10.22495/jgrv11i4art11

Abstract:
This study aims to examine the role of employee work productivity as a mediating variable in the relationship of the incentive principles based on the mato system toward firm performance. The principle based on the mato system is a principle in remuneration policy applied by a company to employees based on the concept of profit sharing. Data was collected by means of a survey method through a questionnaire filled out by 77 respondents and analysed using the partial least squares (PLS) approach. The result of the study indicates that there is a positive effect of the incentive principles based on the mato system toward firm performance and the finding shows that employee work productivity has a positive role to mediate the effect of incentive principles based on the mato system toward firm performance. Incentive principles based on the mato system are a new variable in the realm of management accounting. The variable reflects unique business management in a restaurant firm and is evidently able to improve employee work productivity to create value added for the restaurant firm.
Hussein H. Sharaf-Addin,
Published: 23 September 2022
Journal of Governance and Regulation, Volume 11, pp 103-111; https://doi.org/10.22495/jgrv11i4art10

Abstract:
Previous studies have examined the effect of the chief executive officer’s (CEO) share-ownership and compensation on firm performance (Elsayed & Elbardan, 2018; Hill, Lopez, & Reitenga, 2016; Vemala, Nguyen, Nguyen, & Kommasani, 2014), however, the interaction effect of board of directors (BOD) share-ownership and compensation on firm performance are still unclear. Further, the incentive of higher financial performance to attract members of the BOD to hold shares in the company is still not adequately investigated by the literature. This study, therefore, aims to fill these gaps. Based on an investigation of 56 company-year observations of the Saudi energy industry for the period 2005–2019, we found that BOD share-ownership has a significant direct and positive effect on BOD compensation as well as on the return on equity (ROE). Moreover, the results indicate that BOD compensation affects the ROE significantly, and partially mediates the relationship between BOD share-ownership and ROE. Finally, the study revealed that the ROE positively and significantly affects BOD share-ownership, indicating that the higher the ROE, the more incentive for BOD members to hold shares in the company. The study provides new insights into the extant literature related to the joint effect of BOD share-ownership and compensation on firm performance, as well as the reverse relationship between BOD share-ownership and firm performance.
Teddy Asmara, Setia Untung Arimuladi, Yos Johan Utama
Published: 20 September 2022
Journal of Governance and Regulation, Volume 11, pp 90-102; https://doi.org/10.22495/jgrv11i4art9

Abstract:
The COVID-19 pandemic had a tangible impact on Indonesia’s economy to a 4.5% economic growth contraction (Husnulwati & Yanuarsi, 2021). To analyze the dynamics of investment in the emerging market and the effects of COVID-19 associated with the work creation law in Indonesia. This study is research in the field of law with an empirical legal research approach. The Job Creation Law provides simplifications, especially concerning business licensing and investments that can be made starting from the micro, small and medium enterprises (MSME) level. The COVID-19 pandemic can be interpreted as momentum for Indonesia to attract more investors. The world economy has had significant changes, especially in exports and imports, coupled with the trade war between China and the United States (Sumarni, 2020). Still, several things must be paid attention to, namely: the long-term effect of investment after the amendment of investment provisions in the water, electricity, weapons, and defense business sectors; and the formulation of implementing regulations in the Job Creation Law because so far, Indonesia has been known to be slow in formulating laws and regulations.
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