Journal of Governance and Regulation

Journal Information
ISSN / EISSN : 22209352 / 23066784
Current Publisher: Virtus Interpress (10.22495)
Total articles ≅ 412
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Journal of Governance and Regulation; doi:10.22495/jgr

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Marco Vulpiani, Elena Croci, Marco Caiffa
Journal of Governance and Regulation, Volume 9, pp 112-122; doi:10.22495/jgrv9i2art9

Salman Saleem
Journal of Governance and Regulation, Volume 9, pp 103-111; doi:10.22495/jgrv9i2art8

The study has contributed to the current debate on the significance of cultural referenced practices over self-reported values in the identification of culture (e.g., Fischer & Schwartz, 2011; Kirkman, Lowe, & Gibson, 2017). The study has examined whether there is a difference in the self-reported values versus cultural-referenced practices concerning masculinity and power distance. Also, which facet of masculinity and power distance, i.e., self-referenced and/or cultural referenced ratings predict the manifestation of such values in the advertising. The study has used a survey method and ask 200 respondents to report masculinity and power distance in their individual behavioural preference, in their social context and the manifestation of masculinity and power distance in advertising. The results show that self-reported and cultural-referenced rating of masculinity and power distance differ significantly. Moreover, the regression analysis shows that the culture-referenced masculinity and power distance predicts the reflection of respective values in advertising, but no such effect of self-reported values are found. Obtained results strengthen the argument that self-reported values did not identify the culture, instead, the normative values did identify the culture. Future international business and cross-cultural corporate governance research should consider the cultural practices of masculinity and power in their cross-cultural investigation.
Malsha K. P. P. H. G. N., A Anton Arulrajah, Samithamby Senthilnathan
Journal of Governance and Regulation, Volume 9, pp 92-102; doi:10.22495/jgrv9i2art7

Badar Mohammed Almeajel Alanazi
Journal of Governance and Regulation, Volume 9, pp 83-91; doi:10.22495/jgrv9i2art6

Vjollca Istrefi
Journal of Governance and Regulation, Volume 9, pp 75-82; doi:10.22495/jgrv9i2art5

The most recent and severe financial crisis followed by the failure of the most important financial players in the world economy has raised doubts about the way the government system works. This has been crucial to understanding the significance of good corporate governance practices, able to sustain the current blockage in the most vital financial negotiations. Therefore, interest in corporate governance has grown and attracted considerable attention in both developed and less-developed countries (Mallin, 2004; Solomon & Solomon, 2004; Sternberg, 2004). Hence, the study is based on a theoretical approach, and confronts the traditional and Islamic corporate governance, analyzing the essential differences that have highlighted the necessity of finding an alternative model to the traditional one. Comparing the two models of corporate governance, in their authentic form, it easily gives rise to discrepancies. The most important divergence between the two models derived from the fact that in the Islamic model the corporate governance practice is based on the religious principles and God and Islam are the main participants in it. This is in contrast to the conventional philosophy that focuses on the material aspects and the main objective is to create and increase shareholders’ value throughout the time.
Hugh Grove, Mac Clouse, Tracy Xu
Journal of Governance and Regulation, Volume 9, pp 64-74; doi:10.22495/jgrv9i2art4

Artificial intelligence (AI) has moved from theory into the global marketplace. The United Nations World Intellectual Property Organization released the first report of its Technology Trends series on January 31, 2019. It considered more than 340,000 AI-related patent applications over the last 70 years. 50 percent of all AI patents have been published in just the last five years. The challenges, potential risks, and opportunities for business and corporate governance from emerging technologies, especially artificial intelligence, have been summarized as whereby machines and software can analyze, optimize, prophesize, customize, digitize and automate just about any job in every industry. Boards of directors and executives need to recognize and understand the new risks associated with these emerging technologies and related reputational risks. The major research question of this paper is how boards of directors and executives can deal with both risk challenges and opportunities to strengthen corporate governance. Accordingly, the following sections of this paper discuss key risk management issues: deep shift risks, global risks, digital risks and opportunities, AI initiatives risks, business risks from millennials, business reputational risks, and conclusions.
Amrie Firmansyah, Wiwik Utami, Haryono Umar, Susi Dwi Mulyani
Journal of Governance and Regulation, Volume 9, pp 45-63; doi:10.22495/jgrv9i2art3

This study aims to investigate the effect of net income volatility, other comprehensive income volatility, and comprehensive income volatility on idiosyncratic volatility. Also, this study includes derivative transactions as moderation variable in testing the equation model. The hypothesis test employed multiple linear regression. The sample in this study is all non-financial companies listed on the Indonesia Stock Exchange from 2012 to 2017. Data used in this study are panel data sourced from and The sample selection in this study used a purposive sampling method with a total sample of 246 observations. The results of this study indicate that comprehensive income volatility, net income volatility, and other comprehensive income volatility are not associated with idiosyncratic volatility. Based on the test results suggest that the interaction between derivative transactions and comprehensive income volatility, net income volatility, as well as other comprehensive income volatility, have a positive effect on idiosyncratic volatility.
Karen M. Hogan
Journal of Governance and Regulation, Volume 9, pp 34-44; doi:10.22495/jgrv9i2art2

The growing threat of cyber breach has become one of the most feared risks corporations around the world are currently dealing with. This paper uses a methodology similar to Hogan, Olson, and Angelina (2020) to analyze global shareholder value effects of cyber breaches from 1990 to 2019 for five major non-US countries. Cumulative Average Returns (CARs) are calculated using the first notice date to periods of up to 90 days post-announcement to compare short-term and long-term effects of cyber breaches on the stock price. Results for this data set show significant negative returns for US corporations in all windows. Unlike its US counterparts, short-term results for non-US countries show no significant changes to price as a result of cyber breach announcements. Long-term results for the aggregate non-US sample show significance only at the (0,30) window. Individual country long-term analysis shows some significance depending on the event windows, but no common patterns are seen among countries. These results point to differences in how news of a cyber breach, by country, is perceived in the market. The results help explain some of the patterns insurance companies have seen in the reticent buying habits of global companies with respect to cyber insurance.
Isabel Cristina Panziera Marques, Zélia Maria Da Silva Serrasqueiro Teixeira, Fernanda Maria Duarte Nogueira
Journal of Governance and Regulation, Volume 9, pp 8-33; doi:10.22495/jgrv9i2art1

This study aims to explore the different forms of corporate governance in the health sector, how they interact, and analyze the emerging research trend through a systematic literature review (SLR) in the period 2015-2019. The Scopus and ISI Web of Science databases were used to select the 167 articles analyzed. The coverage of corporate governance research was centred on adapting the PRISMA analysis, highlighting the environment which corporate governance belongs to and analysis of the co-occurrence of the keywords used in the studies. Through Grounded theory, a conceptual model was developed, emphasizing the main attributes that influence governance at the macro-, meso- and micro-levels, in the health area, and raising a future agenda for future research in this area: (1) quality of health care, (2) corporate social responsibility in health, (3) health risk management and (4) global health governance. The results of this research aim to guide governments towards emerging regulatory trends, warning about the risks of the impact of corporate governance on health, or the lack of it, on the quality of services. Analysis of the quality of health care is intrinsically related to the environment, although this aspect has received little attention from researchers.
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