Corporate Governance and Sustainability Review

Journal Information
ISSN / EISSN : 2519-8971 / 2519-898X
Published by: Virtus Interpress (10.22495)
Total articles ≅ 87
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Fadi Alkaraan
Corporate Governance and Sustainability Review, Volume 5, pp 4-6; https://doi.org/10.22495/cgsrv5i3editorial

Abstract:
Corporate governance and sustainability issues created dialogues among researchers, practitioners, regulators, and policy-makers. This is not surprising due to the impact of such debates on organisational performance, environmental and social issues relevant to Sustainable Developments Goals (SDGs). The six papers published in this issue add to our knowledge various implications and social applications and offer the opportunity to gain a better understanding of corporate governance and sustainability in different contexts and settings
PoojaA Gokarna,
Corporate Governance and Sustainability Review, Volume 5, pp 73-80; https://doi.org/10.22495/cgsrv5i3p6

Abstract:
COVID-19 pandemic has long-lasting consequences on the health, economic and social life of a country (He & Harris, 2020). In a developing country like India, the socio-economic disruption has led to collaborative action between the central government and state government machinery together with the development sector to curb the impact caused by the virus. Academia substantiates the symbiotic relationship existing between the business and the society (McGuire, 1963; Carroll & Shabana, 2010). The corporates are contributing towards alleviating the pandemic situation through their corporate social responsibility (CSR) activities (Mahmud, Ding, & Hasan, 2021). This article provides insights into the CSR strategies adopted by corporates in India during the COVID-19 pandemic through exploratory research. The study is based on semi-structured interviews of 27 CSR managers involved in strategizing and implementation of CSR activities in their respective organizations. The results outline the commitment shown by corporates towards alleviating the consequence of the virus by multiple CSR strategies. Thus, this research furthers the understanding of CSR and forms a base for future research on COVID-19 and CSR
Jagvinder Singh, Shubham Singhania,
Corporate Governance and Sustainability Review, Volume 5, pp 57-72; https://doi.org/10.22495/cgsrv5i3p5

Abstract:
With growing regulatory changes with respect to the composition of the board of directors, the regulation for the appointment of women directors on the corporate boards has seen an upsurge in recent times. It is quite evident to believe that with so many countries mandating the appointment of women, the reasons are not just social but also economic in nature. The extant literature provides enough evidence based on various social and psychological theories that support the diversity element for better decision-making. This study is an attempt to analyze the scientific articles to understand the growth of this concept under various dimensions. The search, undertaken over the Scopus database, led to the retrieval of a total of 547 articles published during the period 1989–2021 which, after final filtration, brought the total number of results to 352 articles. VOSviewer software was employed for the purpose of analyzing these articles which helped in the formulation of bibliometric citation, co-citation, and co-word maps. The findings suggest the prominent countries, significant authors, major studies, and top journals in this domain. In addition, the study also identifies the various dimensions such as financial performance, social performance, environmental performance, sustainability disclosures being impacted due to the presence of gender diversity. The study is significant and unique based on the pretext that it uses the Scopus database for the purpose of bibliometric mapping whereas past studies have used the Web of Science database, thus the study’s outcome made a strong corroboration in identifying emerging paradigms in the gender diversity literature.
Deepika Saxena, Neelam Dhall, Rashika Malik
Corporate Governance and Sustainability Review, Volume 5, pp 42-56; https://doi.org/10.22495/cgsrv5i3p4

Abstract:
Sustainability is not a mere buzzword in the banking industry now but rather a key concept that will shape the direction of the industry in the years to come (World Finance, 2019). Thus, the study aims to ascertain various sustainable banking practices at a domestic and global levels. It also intends to identify the existing framework developed for assessing the performance of sustainable banking practices. The study makes use of exploratory and descriptive research design and is based on primary (in-depth interviews) and secondary sources of data collection. The dimensions of sustainable banking have been identified as environmental, social and governance (ESG). The research further highlights that sustainability issues focused by banks primarily involve “environmental” and “social” considerations, however, the “governance” aspect has not yet been considered by many. Moreover, the study reveals that there are no guidelines specified by the Reserve Bank of India (RBI) for sustainable banking practices in India to date. The insights gained from the study would enrich the existing literature on sustainable banking. The findings would also help in developing a new framework for assessing the performance of sustainable banking practices.
Jameel Aljaloudi
Corporate Governance and Sustainability Review, Volume 5, pp 34-41; https://doi.org/10.22495/cgsrv5i3p3

Abstract:
This study aims to estimate the negative effects of COVID-19 on the Jordanian economy. These effects are expected to coincide with the results of studies carried out by international institutions. For example, the International Labor Organization (ILO) estimated indicate an increase in the number of unemployed to 5.3 million (the “low” scenario) and 24.7 million (the “high” scenario), from a baseline of 188 million in 2019 (ILO, 2020a). Experts from the World Bank and the International Monetary Fund (IMF) confirmed that the global economic downturn (caused by the coronavirus pandemic) is the largest in the past eight decades, which will lead to an increase in poverty and inequality and harm economic growth in the long term. (News 18, 2020). To measure the impact of COVID-19 on the Jordanian economy, the following indicators were adopted: an economic growth, an unemployment rate, a foreign trade (imports and exports), public revenues, public spending, a public debt, and a budget deficit. The study relied on data contained in reports issued by international institutions and official institutions in Jordan. The results indicate a slowdown in the rate of economic growth, an increase in the unemployment rate, a decrease in exports and imports, an increase in the public debt and the budget deficit
Sweta Srivastava Malla, Sharad Chandra Sharma
Corporate Governance and Sustainability Review, Volume 5, pp 18-33; https://doi.org/10.22495/cgsrv5i3p2

Abstract:
The focus of this research was to investigate consumer attitudes about CSR (corporate social responsibility) strategies used by organizations, using a non-western perspective. Today every organization intent to go global, raising every organization’s concern with acquiring legitimacy by incorporating their stakeholders’ expectations into their overall business plan. Globalization running parallel with the lack of corporate self-regulation has challenged global businesses to justify their actions in the name of CSR. Understanding consumer perceptions of various CSR initiatives will aid in aligning business behavior with stakeholder expectations, which is vital to ensure the corporation’s long-term survival. The findings of the study indicated that consumers are influenced by CSR platforms, initiatives, and specific marketing strategies. Analysis of the data collected through an online survey provided insight into how businesses may use numerous CSR factors to improve customers’ satisfaction, loyalty and assess consumers’ inclination towards delivering socially desirable answers. The study is grounded within the framework suggested by Carroll (1991) and subsequent modifications provided by Visser (2005, 2008). The outcomes of the study will assist the practitioners, particularly those belonging to emerging economies, in properly strategizing and planning for their business’s future development. A cross-cultural perspective has been provided in the study.
Emmanuel Selase Asamoah, Albert Puni
Corporate Governance and Sustainability Review, Volume 5, pp 8-17; https://doi.org/10.22495/cgsrv5i3p1

Abstract:
Corporate financial performance (CFP) is a key benefit that comes with the adoption and implementation of a good corporate governance structure in organizations. The objective of this paper is to analyze the effect of the six (6) broad corporate governance structures (board composition, board committees, separation of CEO/chairman, size of board, number of board meetings held, and shareholder concentration) on CFP measured by ROA, ROE, EPS, and Tobin’s Q among Ghanaian companies. The target population for the study was the companies that were listed on the Ghana Stock Exchange (GSE) for the period 2015–2020 and purposive sampling methods were deployed in the sample selection. The study found that using ROA as a performance indicator, corporate governance variables affected CFP by 18.95% whilst it influenced ROE by 29.71%. Additionally, corporate governance mechanisms impacted EPS by 52.53% when it was used as a performance indicator and 18.01% when Tobin’s Q was the performance index. The paper concludes that companies that implement the corporate governance guidelines on best practices stand a better chance of enhancing CFP especially with performance targets that integrate shareholder value maximization.
Corporate Governance and Sustainability Review, Volume 5, pp 102-105; https://doi.org/10.22495/cgsrv5i2p9

Abstract:
This review covers the book titled “Board of directors: A review of practices and empirical research”, edited by Stefano Dell’Atti, Montserrat Manzaneque, and Shab Hundal (Virtus Interpress, 2020; ISBN: 978-617-7309-16-0). The focus of this review is particularly on board diversity and sustainability issues that, in the reviewer’s opinion, are two challenges that will keep boards of directors busy in the years to come. It also highlights the contribution of this book to the ongoing discussion on key issues relating to board of directors
Soumaya Ben Khelifa
Corporate Governance and Sustainability Review, Volume 5, pp 89-101; https://doi.org/10.22495/cgsrv5i2p8

Abstract:
While the performance of hedge funds has grabbed much attention from researchers, a few studies have been conducted on the drivers of hedge fund liquidity and performance (Shaub & Schmid, 2013). This study proposes new approaches to investigate the effect of share restrictions on European hedge fund performance and liquidity. We run different regressions of 1) returns, 2) flows, and 3) exposure to market liquidity risk on share restrictions, managerial incentives, and a set of control variables as independent variables. Using a sample of 1423 European hedge funds, our results suggest that restrictions imposed by European hedge funds add economic value to investors. Furthermore, we find that European hedge funds with strong share restrictions take on lower liquidity risk. There is a weak difference in liquidity risk exposure across directional European hedge funds with and without share restrictions. In addition, European hedge funds’ experience, large outflows during a crisis, and all share restrictions do not seem to be significantly related to funding flows in the crisis period, as well as in times of non-crisis. Finally, only the groups of young funds are associated with significant funds exposure to market liquidity risk
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