Corporate Governance and Sustainability Review

Journal Information
ISSN / EISSN : 2519-8971 / 2519-898X
Published by: Virtus Interpress (10.22495)
Total articles ≅ 102
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Latest articles in this journal

Rajeshwari Krishnamurthy, Rammyaa Muralidharan, Pavithra Maddipetlolu Rajendran
Corporate Governance and Sustainability Review, Volume 6, pp 18-28; https://doi.org/10.22495/cgsrv6i2p2

Abstract:
Sustainability is an important aspect of business purposes in organizations. It has been emphasized by a number of corporations and firms as a key component of their long-term success (Grove & Clouse, 2018). Using electric vehicles (EVs) as a context for sustainable products, our empirical study attempts to understand the factors that influence the purchase of EVs in India. The snowball sampling technique has been used to collect data from 156 respondents who own a car or were considering buying one. The research uses a rational choice theory as a framework for analysis. The key findings of the study include a new conceptual model, the responsible innovation sustainable eco-friendly (RISE) adoption model, and a set of new additional factors such as financial incentives, environmental concerns, and cost constraints, in addition to the existing behavioral factors, charging infrastructure, and external influences that are present in the literature. Given the current focus on sustainability and EVs across the world, this study is highly relevant for automobile companies to formulate their EVs strategies and also give pointers for policymaking in this area. There are several theoretical and managerial implications for various stakeholders outlined
Nagendrakumar Nagalingam, Chathurini Kumarapperuma, Chathura Malinga, Kalpani Gayanthika, Nethmi Amanda, Ashini Perera
Corporate Governance and Sustainability Review, Volume 6, pp 8-17; https://doi.org/10.22495/cgsrv6i2p1

Abstract:
Though the corporate governance has been studied from the viewpoint of first, accounting and financial performance (Khatib & Nour, 2021; Goel, 2018; Mohamed, Basuony, & Badawi, 2013), next, marketing performance (El Fawal & Mawlawi, 2018), and finally, logistic and supply chain performance (Hernawati & Surya, 2019) in isolation, moreover, literature on the first is comparatively higher than on the other two, it is further argued that it has not been studied from the viewpoint of firm integrated performance. The purpose of this study, therefore, is to conceptualize the relationship between corporate governance and firm integrated performance. The study adopted a rigorous literature review in forming critical arguments for the theme studied. Accordingly, the study embraced rigorous a priori knowledge in building the arguments for hypotheses development. The study proposes a conceptual framework for the relationship between corporate governance and firm integrated performance which has the potential of facilitating efficient decision-making on corporate governance and firm integrated performance. The study concludes with a foundation for the theoretical basis of the relationship between corporate governance and firm integrated performance
Luis Eugenio De Gárate Pérez
Corporate Governance and Sustainability Review, Volume 6, pp 4-6; https://doi.org/10.22495/cgsrv6i1editorial

Abstract:
In recent years the world has undergone major changes resulting from events that had not been seen in our civilization for a long time. The climate change situation was joined by the pandemic caused by COVID 19, which changed our way of life and work. In the year 2021, there was an inflationary rise that had not been seen in decades and which was mainly caused by the deterioration of supply chains as well as by energy prices and the shortage of microprocessors. Now, in the year 2022, we are observing the painful humanitarian crisis derived from the war situation that Ukraine is experiencing and which sets off the alarms of a possible international escalation affecting the global economy. Given these events, the study of sustainability and its impact on organizations becomes important.
Corporate Governance and Sustainability Review, Volume 6, pp 46-59; https://doi.org/10.22495/cgsrv6i1p5

Abstract:
The purpose of this paper is to provide an up-to-date look at the reality of the theories used in disclosure literature, including stakeholder theory, legitimacy theory, agency theory, signaling theory, institutional theory. This study relies on both deductive and inductive approaches to reviewing a group of disclosure literature worldwide and highlighting the theoretical frameworks used. The results showed that the most comprehensive theory is the stakeholder theory, as researchers have adopted it in more than one field of disclosure. The legitimacy theory followed them. Both theories, however, have failed to be consistently supported in the prior studies as it is not expected that companies only want to satisfy stakeholders through disclosure (Al Amosh & Khtaib, 2021b), and legitimizing activities (Pistoni, Songini, & Bavagnoli, 2018) but due to the information asymmetry, firms’ preferences to disclose more information would be different based on their characteristics. Therefore, the theoretical lens of the disclosure literature should be expanded to include multiple theoretical grounds that may lead to a better understanding of the phenomenon of corporate disclosure. This paper contributes to shedding light on the reality of researchers’ interpretation of the detection motives and defining the theoretical perspectives used in preliminary theoretical analysis. Based on the relevant literature on corporate information disclosure, this paper constructs a theoretical framework to integrate the disclosure theory and gives a comprehensive theoretical explanation
, Lata Chakravarthy
Corporate Governance and Sustainability Review, Volume 6, pp 32-45; https://doi.org/10.22495/cgsrv6i1p4

Abstract:
Value relevance (VR) of earnings and book value of equity is studied in a setting where the International Financial Reporting Standards (IFRS) have been adopted through a convergence and customization route. Quantile regression methodology is applied to level and return models. We find no significant increase in VR of earnings or book equity. Smaller firms show some sensitivity to the change in the regime as compared to the largest set of firms, though accounting metrics overall, help explain the value of larger firms better. We conclude that the convergence route leads to continuous, incremental benefits over the pre-adoption period which pre-empts any significant increase in VR upon IFRS adoption. Gradual convergence with IFRS supported by positive, investor-friendly changes (Roca, 2021) to existing institutional and regulatory frameworks over time, results in better adoption and early, continuous capture of value, though the process itself is long drawn out. More research is needed to test the relevance of alternate metrics in the current technology and intangibles-driven economies (Barth, Li, & McClure, 2021). India’s unique approach to IFRS adoption may hold lessons for all IFRS adopters across the world while responding to new/revised standards in the future. This is the first comprehensive study on the value relevance and information content of the Indian Accounting Standards (Ind AS)
Mousumi Bhattacharya,
Corporate Governance and Sustainability Review, Volume 6, pp 22-31; https://doi.org/10.22495/cgsrv6i1p3

Abstract:
This article examines the role of macroeconomic factors in influencing Indian stock market movements across different market conditions. The study is important for market participants and policymakers as macroeconomic factors may be the source of systematic risk that influences the stock market. We employ factor analysis as a solution to the multicollinearity issues associated with multiple macroeconomic factors. Using three statistical factors built from macroeconomic factors, we show how they impact the stock market, particularly during up and down market conditions. While the influence of foreign exchange rate, broad money supply, economic growth, wholesale inflation, global equity markets, and export is positive and stable across market conditions, an inverse relationship between contemporaneous bond yield and equity market movements is evidenced. Gold and foreign institutional investment inflows seem to exert an increasingly negative influence on market movements at extreme up-market conditions. These findings call for active intervention by policymakers to stabilise the market during extreme market conditions
Mehadi Mamun
Corporate Governance and Sustainability Review, Volume 6, pp 15-21; https://doi.org/10.22495/cgsrv6i1p2

Abstract:
This study, based on the stakeholder theory, explores the relationship between Australia’s electricity companies’ sustainability reporting practices and their financial performance. This paper uses the GRI G4 sector-specific guidelines to examine Australia’s electricity companies’ disclosure level on sustainability, return on assets to assess the companies’ performance, and descriptive statistics and multiple regression to test hypotheses. Relying on the secondary data collected from companies’ annual reports, websites, corporate social responsibility (CSR) reports, or standalone sustainability reports, the regression results show that the sustainability reports have a connection with the companies’ performance. Additional analysis also reveals that only economic and social performance disclosures of sustainability reporting significantly influence the companies’ performance. Though earlier studies on the relationship between sustainability reporting and financial performance have mostly been based on international data, this paper inspects the connection between the adoption of sustainability reporting and the financial performance of electricity companies within Australia that provide essential services to society and have a significant influence on sustainable development. Moreover, this research arbitrates prior inconsistent findings (Garg & Gupta, 2020; Bhattacharyya & Rahman, 2019; Sila & Cek, 2017) and adds to the sustainability reporting and firms’ performance literature
Eleftherios M. Colocassides
Corporate Governance and Sustainability Review, Volume 6, pp 8-14; https://doi.org/10.22495/cgsrv6i1p1

Abstract:
The decision of an organization to be active in the field of hospitality and tourism should include correct perceptions and attitudes that are related to the diversity of people both individually and through the examination of the social culture in which they live. The consequences of a positive social change include the ability to identify benefits for both the organization and its employees (Nwankpa, Ijomah, Gachagan, & Marshall, 2018). The understanding and respecting of cultural differences have significant effects in achieving the goals of an organization that is operating in the hospitality and tourism industry. As tourism is the main source of intercultural contacts, any cultural differences can effect on staff dealing with current and future challenges of tourism in the country (Miličević, Mihalič, & Sever, 2017). The purpose of this article is to present the design and methodology that has been used to examine this topic, and describe the findings and implications of the results in order to support the organizations and their staff employed in the hospitality and tourism industry, and therefore, regarding the perceptions and attitudes towards cultural differences and the effects they have on tourists as human beings. The article presents a real empirical study of research related to the local industry in the Republic of Cyprus
Corporate Governance and Sustainability Review, Volume 5, pp 4-6; https://doi.org/10.22495/cgsrv5i4editorial

Abstract:
The articles published in this issue address interesting corporate governance and sustainability-related topics, by focusing on key themes that are currently at the centre of the scientific, managerial, and political debate. The contributions included in this issue outline a stimulating picture in terms of theoretical constructs and empirical research approaches adopted by the authors, and share a common file rouge since they are grounded on the relationship between non-financial disclosure and firm performance and the role of the governance in fostering transparency and sustainability-oriented strategies in a complex and adverse scenario.
Sarika Kumar,
Corporate Governance and Sustainability Review, Volume 5, pp 45-55; https://doi.org/10.22495/cgsrv5i4p4

Abstract:
This paper is an attempt to overview the academic literature on the mergers and acquisitions (M&A) market and further focuses on the relationship between corporate governance (CG) and firm performance in M&A participating firms by systematizing the existing knowledge and further deriving specific implications for the future work scope. M&A market experiences trillions of USD dollar deals on yearly basis. Therefore, M&A becomes the highly studied area by the researchers for analysis of different combinations between CG, firm performance, takeovers, mergers, acquisitions, etc. In this paper, the research has been carried out as a structural assessment of the past fourteen years of research on different CG variables and firm performance. Further, it has been observed that the majority of research has been conducted to identify the impact of specific bid characteristics of CG on firm performance however; there is a dearth of study to analyze the relation between CG and firm performance for the firms actively participating in M&A market as an acquirer or as a target. In lieu of this, the paper has extracted the prospective area of the study and provided a path towards future research. This review will be useful for academicians and researchers working in the area of CG and M&A, and firm performance
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