_The assessment of institutional quality and its influence on economic performance is highly relevant in Nigeria due to the country's constantly changing governmental institutions, dynamic market circumstances, and diversified socioeconomic atmosphere. Thus, the study aims to investigate the impact of institutional quality on the economic performance of Nigeria. This study employed ex post facto research, while time series data was used, which spans from 1996 to 2021, sourced from the Central Bank of Nigeria (CBN) and the Worldwide Governance (...) Indicators (WGI). The study employed unit root tests, Johansen cointegration, and the Error Correction Model as estimation techniques. However, post estimation tests such as normality, serial correlation, heteroskedasticity and stability tests were carried to ascertain the level of statistical accuracy outcome of the variables used. The findings suggest that there is a sustained nexus between the quality of institutions and characteristics related to economic growth. Also, it was equally found out that political stability has a significant impact in the short run. This suggests that a unit increase in political instability would definitely amount to a decrease in economic performance in Nigeria during the period under investigation. The study suggests enhancing accountability, transparency, administrative efficiency, and law adherence to improve Nigerian institutions. This can be achieved through reform implementation, capacity building, and good governance mechanisms, while reducing political unrest and fostering stability._. (shrink)

National Action Plans on business and human rights are a growing phenomenon. Since 2011, 42 such plans have been adopted or are in-development worldwide. By comparison, only 39 general human rights action plans were published between 1993 and 2021. In parallel, NAPs have attracted growing scholarly interest. While some studies highlight their potential to advance national compliance with international norms, others criticise NAPs as cosmetic devices that states use to deflect attention from persisting abuses and needed regulation. In response (...) to wider critiques of international human rights norms, and their failure to exact universal state compliance, experimentalist governance theory highlights the dynamic, dialogic and iterative character of human rights implementation as well as the role of stakeholders. In this article, we apply experimentalist governance theory to evaluate the role and character of business and human rights NAPs. Rather than attempting to evaluate NAPs’ ultimate consequences for rights-holders, which appears premature, we focus on NAPs processes. Specifically, we analyse NAPs processes in twenty-five states against five experimentalist governance criteria relating to stakeholder participation; agreement on a broad problem definition; local contextualisation; monitoring and peer review and periodic revision and learning. According to our findings, NAPs on business and human rights in most states demonstrate resemblance to the traits of experimentalist governance. In particular, our analysis points to the emergence of relatively sophisticated and demanding institutional governance mechanisms within NAPs — including the institutionalisation of complex deliberative processes. Nevertheless, our paper also identifies some significant shortcomings in NAPs, related to the lack of inclusion of vulnerable groups and the lack of explicit indicators and targets. (shrink)

This note evaluates the claim of Steven Pinker in The Better Angels of Our Nature that the advent of strong states led to a decline in violence. I test this claim in the modern context, measuring the effect of the strength of government in lower-income countries on reductions in homicide rates. The strength of government is measured using Polity IV, Worldwide Governance Indicators, and government consumption as a percentage of GDP. The data do not support Pinker’s hypothesis.

The article reveals the characteristics of entrepreneurship development in the conditions of modern challenges. The aim of the research is to analyze the prospects of entrepreneurship development in both global and national dimensions. A critical analysis of the content of scientific literature of modern scientists, whose works are dedicated to the study of the peculiarities of entrepreneurship development in the conditions of modern challenges, indicates the insufficiency of their study in the period of the Covid-19 pandemic and the escalation of (...) Russia's war against Ukraine. The relevance of the researched topic is determined by the importance of studying the trends in entrepreneurship development and the factors that determine its prospects in both global and national dimensions. The methodological basis of the research is a set of the following methods aimed at solving the respective tasks: analysis and grouping – for the distribution of the countries worldwide based on directions of entrepreneurship development management, according to the level of GDP per capita; survey – for the distribution of countries worldwide based on the opportunities for starting own business in the next 6 months, level of entrepreneurial activity at the early stages of business establishment, consideration of social consequences by entrepreneurs, and familiarity of entrepreneurs with the goals of sustainable development; methods of analysis, tabular and relative differences methods – for determining the state of entrepreneurship in Ukraine; cartographic and graph-analytical – for determining prospective business expectations in Ukraine in 2023; generalization and analytical methods ‒ for summarizing conclusions and recommendations regarding the obtained research data. The scientific novelty of the research results is a scientific-methodical approach. The application of the approach allows obtaining a set of conclusions regarding the prospects of the further development of entrepreneurship in global and national dimensions. These findings can serve as a basis for developing further recommendations to stimulate its development. The obtained research results can be valuable for entrepreneurial structures and government organizations that pursue their own objectives in assessing the prospects of entrepreneurial activities in the conditions of modern challenges. (shrink)

The huge amounts spent on store security and crime prevention worldwide, not only costs international businesses, but also amounts to a hidden tax on those law-binding consumers who bear higher prices. Most previous research has focused on shoplifting and ignored many other ways in which consumers cheat businesses. Using a hybrid of both qualitative research and survey approaches in four countries, an index of 37 activities was developed to examine consumers’ unethical activities across UK, US, France, and Austria. The (...) findings indicate that around three quarters of consumers in all four countries can be classified as heavy offenders for these minor cheats. The paper argues that government agencies, marketers, and retailers should adopt more pro-active preventative approaches, rather than reactive loss limitation measures to combat unethical behavior. (shrink)

This paper draws attention to the role of the IAEA in shaping radiation dosimetry practices, instrumentation, and standards in the late 1950s and 1960s. It traces the beginnings of the IAEA’s radiation dose intercomparison program which targeted all member states and involved the WHO so as to standardize dosimetry on a global level. To standardize dosimetric measurement methods, techniques, and instruments, however, one had to devise a method of comparing absorbed dose measurements in one laboratory with those performed in others (...) with a high degree of accuracy. In 1964 the IAEA thus started to build up what I call the “global experiment,” an intercomparison of radiation doses with participating laboratories from many of its member states. To carry out the process of worldwide standardization in radiation dosimetry, I argue, an organization with the diplomatic power and global reach of the IAEA was absolutely necessary. Thus, “global experiment” indicates a novel understanding of the experimental process. What counts as an experiment became governed by a process that was designed and strictly regulated by an international organization; it took place simultaneously in several laboratories across the globe, while experimental data became centrally owned and alienated from those that produced it. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Religion, the Globalization of War, and Restorative JusticeNathan TierneyAs the pace of globalization increases, the world's religions find themselves in a perilous dilemma that they have yet to resolve in either practical or conceptual terms. On the one hand, the globalization of markets exerts a powerful pressure toward consumerist and materialist values, which undermine and undercut religious perspectives and sensibilities. On the other hand, the globalization of war heightens (...) the intensity of these religious perspectives and sensibilities, and distorts them in the direction of violence and religious extremism. This dilemma plays itself out in different ways in the developed and developing world, but, as the term "globalization" indicates, it is a problem for all of us. Governments, in developing countries especially, often find themselves forced to choose between one horn of the dilemma or the other, with often disastrous results as they take one or the other side in a "West versus the rest" scenario. In the long run, the only viable solution is one that addresses both horns of the dilemma at the same time, and this is possible only if, in turn, religions themselves become truly global. This will require a large-scale and focused cooperative effort in which the religions of the world actively and jointly engage with both problems, working with governments, NGOs, religious communities, and interfaith groups to harmonize religious life with economics and to promote a culture of peace and justice.Because "globalization" is a familiar term in relation to markets, I'll begin by clarifying what I mean by the globalization of war. There are two main aspects to this phenomenon. First, the term refers to a specific transformation in the nature, purposes, and conditions of warfare brought about by the forces of globalization. By globalization I mean the growing trend of the world's cultural, economic, and political forces to bypass national borders and operate on a world scale. This process creates new possibilities for both integration and conflict. When that conflict passes beyond the possibility of diplomatic negotiation, we have the conditions for globalized war. Globalized war is not necessarily world war. It can be relatively local in its sphere of combat; for example, the U.S. invasion of Afghanistan was a collective response to a worldwide threat of terrorism. What makes it a globalized war, as distinct from international war, is the global nature of the forces that produced it and [End Page 79] are affected by it. Globalized war in this sense has come only lately onto the scene, but its scale and impact is likely to grow in the coming century.The second aspect of the globalization of war is the tendency of conflict to mutate beyond the interests and concerns of nation-states and be taken up by broader civilizational units, even if they were not originally a response to global pressures. The most likely trajectory for this mutation has been well described by Samuel P. Huntington in his influential article "The Clash of Civilizations" (1993) and his book-length treatment of the same subject (1997). Huntington argues that the fault lines of conflict will not be primarily ideological or economic but cultural, where "cultural" is to be understood at its broadest level—the level of civilizations. He divides the world into seven or eight competing civilizations: Western, Sinic, Japanese, Hindu, Islamic, Orthodox, Latin American, and possibly African. Societies sharing cultural affinities will cooperate with one another, and the attempt by the West to universalize its dominant version of consumer capitalism and liberal democracy will be resisted in an increasingly determined way—eventually to the point of outright war: "the next world war, if there is one, will be a war between civilizations."1In Huntington's analysis, then, the globalization of war refers to a coming clash of civilizations. He believes that religion will play a central role in this clash as the focal point of civilizations: "Civilizations are differentiated from each other by history, language, culture tradition and, most important, religion."2 While Western civilization has experienced several decades of decline and decay, in both its cultural unity and its sense of identity, other civilizations have grown both in economic terms and... (shrink)

From a simple idea to unite asset owners in their quest for responsible investment at its launch in April 2006, the United Nations supported Principles for Responsible Investment have grown in just one decade into an initiative with more than 1500 fee-paying signatories. Jointly, the PRI’s signatories hold assets worth more than $80 trillion, making it one of the more prevalent not-for-profit organizations worldwide. Furthermore, the PRI’s ambitious mission to transform the financial system at large into a more sustainable (...) one makes it a worthwhile subject of inquiry from an institutional perspective. We undertake an empirical investigation of the adoption of the PRI by asset owners during five crucial years of the association’s emergence: 2007–2011. Following a tripartite view of institutional theory proposed by Scott, we explore if regulative, normative, and cultural–cognitive factors influence an asset owner’s decision to subscribe to the PRI. Applying both parametric and non-parametric survival analysis, we find that asset owners are indeed significantly affected by normative, cultural–cognitive, and regulative aspects. In particular, public service employee and labor union pension funds from social backgrounds more culturally aligned with values represented by the RI movement with historically more voluntary legislation on environmental, social, and governance issues are most likely to sign the PRI. In contrast, institutional environments with a higher number of pre-existing mandatory ESG regulation decrease the likelihood of signing the PRI. Our results indicate that normative and cultural–cognitive factors were crucial contributors to the PRI’s growth. With respect to the regulative environments, our results imply that some asset owners may use the PRI as a collective industry initiative to substitute for mandatory legislation. Conversely, a high level of historical mandatory legislation may constrain organizational resources that could otherwise be dedicated to voluntary initiatives such as PRI. Our findings are robust to relevant controls and econometric concerns. (shrink)

In 1999 the UN instituted the Program of Action on a Culture of Peace, leading to the Declaration of the International Decade for the Promotion of a Culture of Peace and Non-Violence for the Children of the World 2001-2010. This represented a paradigm shift away from the prevailing conceptualization of peace as ‘the absence of war’ to one of ‘creating cultures of peace’, and indicated a significant opening for peace educators and the expansion of their mission and field in peace (...) research and scholarship. This book seeks to address several questions about the emergence, present state, and future of the field of peace education, and to ground the definition of the discipline in its origins – origins deeply set in informal grassroots movements of concerned citizens, faith-based communities, and professional organizations who work for peace, as well as those working in formal institutions. These origins are vital in imparting identity, and in nurturing the current growing collective consciousness that combines the academic discipline and the worldwide peace movement – a collective that can unify, fuel, and inspire dialogue among scholars, researchers, activists, educators, government leaders, and the myriad of individuals committed to creating cultures of peace throughout the world. This book was originally published as a special issue of the _Journal of Peace Education. _. (shrink)

Background:When the contagious COVID-19 spread worldwide, the frontline staff faced unprecedented excessive work pressure and expectations of all of the society.Objective:The aim was to explore healthcare workers’ stress and influencing factors when caring for COVID-19 patients from an altruistic perspective.Methods:A cross-sectional, descriptive study was conducted in a tertiary hospital during the outbreak of COVID-19 between February and March 2020 in Wuhan, the capital city of Hubei province in China. Data were collected from 1208 healthcare workers. Descriptive statistics and multiple (...) linear regression were used to analyze the data.Ethical considerations:Research ethics approval (with the code of TJ-IRB20200379) was obtained from Tongji Hospital, Tongji Medical College of Huazhong University of Science and Technology. Written informed consent was also received from participants.Results:Less than 60% of participants chose moderate or severe stress on all stressors, indicating a low stress level among healthcare workers. The main source of stress among frontline healthcare workers caring for COVID-19 patients came from the fear of being infected, the fear of family members being infected, and the discomfort caused by protective equipment. Frontline staff who were nurses, were married, and had worked more than 20 days suffered higher stress, whereas rescue staff showed lower stress.Conclusion:The healthcare workers caring for patients with COVID-19 had low stress level, although they still had the fear of being infected or uncomfortable feeling caused by personal protective equipment. A low stress level among healthcare workers indicated their professional devotion and altruism during COVID-19 epidemic. Medical institutions and the government should continue to strengthen infection prevention measures and provide more comprehensive care involving families of frontline healthcare workers, especially nurses and married staff. It will be a lesson to other countries that awaking healthcare workers’ inside motivation and providing necessary support from government and society were significant. (shrink)

As global warming becomes increasingly prominent, countries worldwide advocate for a low-carbon economy to cope with the pressure to reduce greenhouse gas emissions. The Chinese government has proposed a “dual carbon” goal of peaking carbon emissions by 2030 and becoming carbon neutral by 2060. The disclosure of carbon information by Chinese enterprises has attracted widespread attention from society. This study selects the constituents of the Social Responsibility Index of China Shanghai Stock Exchange from 2016 to 2020 as samples to (...) empirically analyze the relationship between the level of carbon information disclosure and corporate value, and the moderating effect of greenwashing behavior. Results indicated that the quality of carbon disclosure is positively correlated with the enterprise value. Greenwashing behavior promotes the positive impact of carbon disclosure quality on enterprise value in the short run, but this promoting effect fades in the long run. We further found that the carbon information disclosure of non-heavy-pollution enterprises has a more obvious positive impact on enterprise value than that of heavily polluting enterprises. Additionally, the positive impact of carbon information disclosure on enterprise value is more visible among enterprises in a good legal environment than those in a poor legal environment. This study enriches the relevant literature on carbon information disclosure and enterprise “greenwashing” behavior and has practical significance for promoting China’s low-carbon development in the context of ecological civilization and improving the enthusiasm for the quality of enterprise carbon information disclosure. (shrink)

The Covid-19 pandemic has affected not only health systems worldwide, but also global civil society, it has posed a global threat to humanity with significant implications and indicated weak points of postmodern civil society such as the lack of global solidarity and global cooperation, the lack of global health equity, the increase in poverty, social insecurity and deep inequality, the lack of support for the liberal international order, the lack of coordination mechanism for responding to the pandemic. Three main (...) crises of postmodern society are identified and analysed: relations of cooperation between nations and states, protests in different countries, the inadequacy of scientific and technological achievements of civilization. The analysis of these crises led to the conclusion that, along with the negative impact of the Covid-19 pandemic for humanity, it should be seen as a crucial moment for human civilization that identified gaps and directions for the development of global civil society. The transformation of society today must take place in terms of rethinking the consequences and results of globalization, and taking into account the processes of socio-political and socio-cultural transformation. Today, humanity needs to transform global society by reconsidering the role of WHO as a leading intergovernmental organization in the global health system, strengthening the role of global governance, creating a new paradigm of global health, developing global cooperation, solidarity and coordination towards global health equity. (shrink)

Emergency online education has been adopted worldwide due to coronavirus disease 2019 pandemic. Prior research regarding online learning predominantly focused on the perception of parents, teachers, and students in tertiary education, while younger children’s perspectives have rarely been examined. This study investigated how family, school, and individual factors would be associated with primary school students’ satisfaction, perceived effectiveness, and preference in online learning during COVID-19. A convenient sample of 781 Hong Kong students completed an anonymous online survey from June (...) to October 2020. Logistic regression was conducted for 13 potential factors. Results indicated that only 57% of students were satisfied with their schools’ online learning arrangement and 49.6% regarded the online learning as an effective learning mode. Only 12.8% of students preferred online learning, while 67.2% of students preferred in-person schooling. Multiple analyses suggested that teacher–student interaction during online classes was positively associated with students’ satisfaction, perceived effectiveness, and preferences in online learning. Compared to grades 1–2 students, grades 3–6 students perceived more effectiveness and would prefer online learning. Happier schools were more likely to deliver satisfying and effective online education. Students who reported less happiness at school would prefer online learning, and students who reported less happiness at home would be less satisfied with online learning and reflected lower effectiveness. Teachers are encouraged to deliver more meaningful interactions to students and offer extra support to younger children during online classes. Primary schools and parents are encouraged to create a healthy and pleasant learning environment for children. The government may consider building up happy schools in the long run. The study findings are instrumental for policymakers, institutions, educators, and researchers in designing online education mechanisms. (shrink)

Coronavirus disease cases and COVID-19-related deaths have been increasing worldwide since the outbreak in 2019. Before the mass vaccination campaign for COVID-19, the main methods for COVID-19 control in China were mass testing and quarantine. Based on the transmission mechanism of COVID-19, we constructed a dynamic model for COVID-19 transmission in two typical regions: Beijing and Xinjiang. We calculated the basic reproduction number R 0, proved the global stability of COVID-19 transmission via the Lyapunov function technique, and introduced the (...) final size. We assessed the effectiveness of mass testing and quarantine. Sensitivity analysis indicated that the more the people were tested per day, the larger is the quarantine proportionality coefficient, the earlier the source location was determined, and the better is the controlling effect. In addition, it was more effective to increase the coefficient of quarantine if the population density in the region was low. To eliminate the pandemic, the government has to expand testing and quarantine, requiring a large amount of continuous manpower, material, and financial resources. Therefore, new control measures should be developed. (shrink)

Background Consent policies for post-mortem organ procurement (OP) vary throughout Europe, and yet no studies have empirically evaluated the ethical implications of contrasting consent models. To fill this gap, we introduce a novel indicator of governance quality based on the ideal of informed support, and examine national differences on this measure through a quantitative survey of OP policy informedness and preferences in seven European countries. -/- Methods Between 2017–2019, we conducted a convenience sample survey of students (n = 2006) (...) in Austria (AT), Belgium (BE), Denmark (DK), Germany (DE), Greece (GR), Slovenia (SI) and Spain (ES), asking participants about their donation preferences, as well as their beliefs and views about the policy in place. From these measures, we computed indices of informedness, policy support, and fulfilment of unexpressed preferences, which we compared across countries and consent systems. -/- Results Our study introduces a tool for analyzing policy governance in the context of OP. Wide variation in policy awareness was observed: Most respondents in DK, DE, AT and BE correctly identified the policy in place, while those in SI, GR and ES did not. Respondents in opt-out countries (AT, BE, ES and GR) tended to support the policy in place (with one exception, i.e., SI), whereas those in opt-in countries (DE and DK) overwhelmingly opposed it. These results reveal stark differences in governance quality across countries and consent policies: We found a preponderance of informed opposition in opt-in countries and a general tendency towards support–either informed or uninformed–in opt-out countries. We also found informed divergence in opt-in countries and a tendency for convergence–either informed or uninformed–among opt-out countries. -/- Conclusion Our study offers a novel tool for analyzing governance quality and illustrates, in the context of OP, how the strengths and weaknesses of different policy implementations can be estimated and compared using quantitative survey data. (shrink)

The United States, which committed itself to alleviating the severe post-World War II global famine, failed to meet its relief commitments. Relief efforts failed largely because voluntary attempts at reducing consumption proved too difficult, and the U. S. government refused to return to mandatory rationing of food despite evidence indicating the majority of Americans, especially American women, would have welcomed such a move. Contributing to officials' opposition to mandatory post-war rationing were the revived ideology of government non-interference; a strong government/agriculture (...) alliance; the focus on private, as opposed to public, interests and obligations; and increasing Cold War tensions precluding any worldwide efforts at famine relief. It seemed only the fear of Communist takeover could provoke Congress in partnership with business interests into sufficiently alleviating famine conditions, but only for those countries willing to abide by U. S. terms. (shrink)

This article examines the risk and return profiles of stock indices composed of companies meeting environmental, social and governance screening criteria [such as the Dow Jones Sustainability Indices ] and conventional composite indices of eight Asian countries from 2002 to 2014. The results indicate that there are no significant differences in the returns or risk-adjusted returns between the ESG indices and the composite indices within countries. The results do reveal that the market volatility of the ESG indices is higher (...) than the market volatility of the conventional indices. Market betas of DJSI and ESG equity indices are significantly lower than betas of the composite equity indices. The overall results indicate that the performance of ESG equity indices of many Asian countries is similar to the performance of conventional indices, suggesting that investors can pursue socially responsible investing objectives without a material difference in portfolio performance from conventional investing. (shrink)

Biobanks are proliferating rapidly worldwide because they are powerful tools and organisational structures for undertaking medical research. By linking samples to data on the health of individuals, it is anticipated that biobanks will be used to explore the relationship between genes, environment and lifestyle for many diseases, as well as the potential of individually-tailored drug treatments based on genetic predisposition. However, they also raise considerable challenges for existing legal frameworks and research governance structures. This book critically examines the (...) current governance structures in place for biobanks in England and Wales. It shows that the technologies, techniques and practices involved in biobanking do not always conform neatly to existing legal principles and frameworks that apply to other areas of medical research. Using a socio-legal approach, including interview data gathered from the scientific community, this book provides unique insights and makes recommendations about appropriate governance mechanisms for biobanking in the future. It also explores the issues around the secondary use of information, such as consent and how to protect privacy, when biobanks are accessed by a number of different third parties. These issues have relevance both within England and Wales and to a wide international audience, as well as for other areas where large datasets are used.--Back cover. (shrink)

A social responsibility (SR) theory of the press has emerged in various democratic societies worldwide since World War II. The Hutchins Commission in the United States is the source of this paradigm in some cases, but a similar emphasis on serving society rather than commerce or government has also arisen in parallel fashion without any connection to Hutchins. Professionalism and codes of professional ethics are too narrow to serve as the framework for a global SR paradigm of the 21st (...) century. Instead, universal ethical principles are the most appropriate framework, and the cross-cultural axis around which these principles revolve is the sacredness of human life. Embedded in the protonorm of human sacredness are such ethical principles as human dignity, truthtelling, and nonmaleficence. These principles are citizen ethics rather than professional ethics; they are set in the social domain where SR gets its rationale. They provide a frame of reference internationally for assessing local news media practices and formulating codes of ethics. (shrink)

The international pharmaceutical industry has made significant efforts towards ensuring compliant and ethical communication and interaction with physicians and patients. This article presents the current status of the worldwide governance of communication practices by pharmaceutical companies, concentrating on prescription-only medicines. It analyzes legislative, regulatory, and code-based compliance control mechanisms and highlights significant developments, including the 2006 and 2012 revisions of the International Federation of Pharmaceutical Manufacturers and Associations (IFPMA) Code of Practice.

During the past four decades the governance of environmental problems – the definition of issues and their political and practical resolution – has evolved to include a wider range of stakeholders in more extensive open discussions. In the introduction to this issue of Environmental Values on ‘Environment, Policy and Participation’, we outline some features of these recent developments in participatory environmental governance, indicate some key questions that arise, and give an overview of the collection of papers in this (...) special issue. (shrink)

Our planet contains 194 independent states and much more nations. They share membership of the United Nations and in consequence they subscribed the Universal Declaration of Rights. These are rooted in the modern universal conception of states and human rights formulated by philosophers of the Enlighten Age like Locke, Kant., Montesquieu, Voltaire and Rousseau. Concepts like democracy are mirrored to the organization of the political life as it was developed in North America and Europe at the end of the 18th (...) and the 19th century. Universality was deeply rooted in the Western intellectual, moral and religious tradition of that part of the world. Even globalization of the economic and social life is governed by the same Western standards and worldwide consumed basic goods like prime matter,. food and energy is expressed in terms of Western currency like dollar, pound sterling or euro. Despite this economic globalization there were two contradictory political evolution to discern: At the one hand more than 70 new states where created and on the other hand 28 European states started to integrate to a political European Union. The latter trend was based on a deep economic integration and since the creation of the euro also a financial integration. Basic idea was the creation of a free economic market as bases for a political unified Europe. Euro criticism is not only identified with conservatism, nationalism, narrow mind and even racism, euro criticism is deprived from any intellectual significance. However other trends put some shadow on the European project. First the Soviet experience around Marxism, Leninism and Stalinism unified more different nations than the European Union but ended in a complete political and economic chaos. Secondly the financial euro crisis involves only the tacit undermining of the national political independence of the member states, but does not make room for a deep analysis what the fundamentals are of this crisis such as lack of confidence of the citizen in the created unified political and financial market and its main instruments like banks that we consider as the fundamental boundary conditions of the worldwide globalization of goods, power and all aspects of human life. Furthermore we claim that this market in al its aspects is the worst answer to the inconvenient yet unavoidable truth that Western way of life of consumption includes a ecological footprint that exceeds since many years the sustainability of our planet. -/- . (shrink)

Corporate governance guidelines are a mechanism that a firm can enact which should reduce agency costs and better align the interests of boards and the suppliers of capital. This study examines stock price reactions primarily attributable to institutional investors occurring when corporations announce the enactment of corporate governance guidelines. A final sample of 77 firms was derived from the first announcement of corporate governance guidelines exclusive to the SEC-EDGAR database. The results indicate that good governance does (...) matter. Firms that announced the enactment of corporate governance guidelines experienced increased stock prices following the announcements. There was an immediate (days 1–4) reaction for firms that provided all or part of the guidelines’ substance; a delayed (days 8–10) reaction occurred for those firms that only referenced the guidelines’ enactment. Additionally, firms with either a potentially greater following or that had a previous history of acrimonious relations with stakeholders were rewarded by the announcement of the enactment of guidelines. (shrink)

In recent years India has been moving further in the direction of adopting an Anglo-American model of corporate governance. This decision, the result more of international economic and political pressures than public debate, in effect represents a new development strategy for the world's most populous democracy. In light of this situation, it is important to ask two basic questions: 1) why has the Anglo-American model of corporate governance been adopted? and; 2) can it be justified? This paper addresses (...) the first of these questions by distinguish and examining three historical models of governance in India: 1) the managing agency model in the colonial period; 2) the business house model that emerged after independence, and; 3) the Anglo-American model which has recently been adopted (and is still emerging). The second question is approached through an examination of the "development impact" of the new model, as indicated by such measures as growth, employment and respect for shareholder rights. (shrink)

Some argue that managers over-invest in corporate social responsibility (CSR) activities to build their personal reputations as good global citizens. Others claim that CEOs strategically choose CSR activities to reduce the probability of CEO turnover in a future period through indirect support from activists. Still others assert that firms use CSR activities to signal their product quality. We find that firms use governance mechanisms, along with CSR engagement, to reduce conflicts of interest between managers and non-investing stakeholders. Employing a (...) large and extensive sample of firms within Russell 2000, S& 500 and Domini 400 indices during the 1993-2004 period, we find that consistent with the conflict-resolution hypothesis, the CSR choice is positively associated with governance characteristics, including board independence, institutional ownership, and analyst following. In addition, after correcting for endogeneity of CSR engagement, our results show that CSR engagement positively influences operating performance and firm value, supporting the conflict-resolution hypothesis as opposed to the over-investment and strategic-choice arguments. We find only a weak support of the product-signaling hypothesis as a major motive of CSR engagement. (shrink)

During the past four decades the governance of environmental problems – the definition of issues and their political and practical resolution – has evolved to include a wider range of stakeholders in more extensive open discussions. In the introduction to this issue of Environmental Values on ‘Environment, Policy and Participation’, we outline some features of these recent developments in participatory environmental governance, indicate some key questions that arise, and give an overview of the collection of papers in this (...) special issue. (shrink)

There is a distinct lack of research into the relationship between corporate governance and corporate social responsibility (CSR) in the banking sector. This paper fills the gap in the literature by examining the impact of corporate governance, with particular reference to the role of board of directors, on the quality of CSR disclosure in US listed banks’ annual reports after the US sub-prime mortgage crisis. Using a sample of large US commercial banks for the period 2009–2011 and controlling (...) for audit committee characteristics, board meeting frequency, and banks’ profitability, size and risk, we find evidence that board independence and board size, the two board characteristics usually associated with the protection of shareholder interests, are positively related to CSR disclosure. This indicates that, with regard to CSR disclosure, more independent boards of directors and larger boards are the internal corporate governance mechanisms which promote both shareholders’ and other stakeholders’ interests. Contrary to our expectations, CEO duality also impacts positively on CSR disclosure. From an agency-theoretical viewpoint, this suggests that powerful CEOs may promote transparency about banks’ CSR activities for their private benefits. While this could indicate that powerful CEOs are under particular pressure to appease stakeholders’ concerns that they might abuse their power by providing a high degree of CSR disclosure, it could also be a sign of managerial risk aversion or managers’ private reputational concerns. (shrink)

Corporate governance has come to be recognised as a cornerstone of economic reforms seeking to promote stability and growth in developing countries. The Asian crisis of the 1997 was viewed as having roots in poor governance and hence national governments as well as international organisations have sought to promote a strengthening of governance mechanisms. This article investigates governance reforms in India over the last decade. The paper reviews changes in Indian governance codes that indicate a (...) preference of adoption of Anglo-American governance models. A survey of ownership structures of Indian listed companies reveals a mixture of governance mechanisms and a persistence of the "business house model" of governance. The paper concludes that despite external pressures towards an "Anglo-Americanisation" of governance practice, the outcomes thus far reveal the emergence of a diversity of governance mechanisms arising in a path-dependent fashion. (shrink)

Government communication has been playing an important role in mass vaccination to conduct the largest vaccination campaign of the world for COVID-19 and to counter vaccine hesitancy. This study employs the health belief model to examine the association between government communication and the COVID-19 vaccination intention. A survey of Chinese adults was conducted in March 2021, and partial least squares structural equation modeling was employed to estimate the multi-construct relationships. The findings indicate that government communication has both direct positive association (...) with vaccination intention and indirect association with vaccination intention through the mediation of perceived severity, benefits, and barriers. Multi-group comparisons suggest that individuals from private sectors are more easily mobilized to receive COVID-19 vaccination by government communication than those from public sectors. Similarly, the correlation between government communication and the vaccination intention of individuals with a good health status was stronger than that of those with a poor health status. The theoretical and practical implications of these findings are further discussed. (shrink)

Aristotle indicates that although a monarchy is the best form of government in theory, in practice, a polity (“mixed regime”) is best. IDOM Engineering Consultancy is presented as an example of a “corporate polity.” In this case study, stories and rationales behind the institutionalization of worker participation in ownership and management are discussed. Arguments in favor of the corporate common good as the firm’s overarching concern are proffered. Legal challenges as well as those arising from the company’s growth and overseas (...) expansion are studied. (shrink)

This study provides evidence on the governance of CSR policies and activities by Indian central government-owned companies [i.e. Central Public Sector Enterprises ] within a unique mandatory regulatory setting. We utilise the multi-level ‘Logic of governance’ conceptual framework and draw upon interview data collected from 25 senior managers in 21 CPSEs to assess the dynamics of CSR implementation within CPSEs. Our findings indicate most managers believe that a mandatory policy has enhanced the accountability and commitment of governing boards (...) and senior management to CSR. However, CSR policy implementation within Indian CPSEs is still nascent, fraught with bureaucratic hurdles, insufficient human and knowledge resources, limited stakeholder analysis and over-emphasis on CSR budget utilisation as an outcome. Several key areas for improvements include the need for better translation of national CSR policy goals to firm-level strategies, more formal assessment of stakeholder needs, clearer communication lines with external service providers, such as NGOs and local government agencies, and the better evaluation of CSR outcomes. The findings of this study have implications for both theory and policy development. (shrink)

We propose a qualitatively new kind of governance for the emerging need to efficiently guide the densely interconnected, ever more complex world development, which is based on explicit and openly presented problem solutions and their interactive implementation practice within the versatile, but unified professional analysis of complex real-world dynamics, involving both the powerful central units and the attached creative worldwide network of professional representatives. We provide fundamental and rigorous scientific arguments in favour of introduction of just that kind (...) of governance at the modern development stage, after the complexity threshold in the real world dynamics evolution (sometimes intuitively designated as "globalisation"), where the traditional spontaneous-empirical kind of development and related administrative governance lose dramatically and inevitably their efficiency and the necessity of explicit consistent understanding and guidance of complex real-world dynamics becomes evident. (shrink)

Collaborative governance (CG) is becoming the common currency of decision‐making, able to surmount existing institutional constraints to effectively address challenges related to sustainability and social and environmental corporate behavior. CG approaches may however result in institutional complexity. As an illustration of CG in the domain of corporate social responsibility (CSR), the ISO 26000 standard is a legitimate point of reference for organizations worldwide. The standard represents a pluralistic institutional logic that resonates several tensions arising from the domain it (...) tries to standardize, the nature of its development process, its interpretation of CSR and the type of standard it represents. This article aims to identify and examine strategic responses to ISO 26000 by various standards‐related organizations (including national standardization institutes, certification organizations, and service providers) and to contribute to the understanding of strategic responses of organizations to pluralistic institutional logics that result from CG. (shrink)

Media companies are increasingly becoming aware of the importance of their reputation. In order to legitimate themselves, they are starting to present themselves as ‘good corporate citizens’ by engaging in media governance and corporate social responsibility (CSR) activities. The communication of those activities is crucial for the building of reputation. However, to date, no comprehensive studies have been conducted to evaluate the communication of media governance and CSR activities of media organizations. This study aims to fill this gap (...) and examined websites and reports of selected media organizations in Germany, Italy, France, Austria, and Switzerland. Results indicate that public service media organizations communicate proportionally more on media governance than private media organizations, which may be due to the fact that public service media organizations feel more accountable to the public as they have a public service obligation. Concerning the communication of their CSR activities, media organizations focus on society-oriented measures. (shrink)

The aim of this article is to analyse the internal mechanisms of corporate governance (board of directors and ownership structure), which influence voluntary disclosure of intangibles. The results appear to corroborate the view that an increase in institutional investor shareholding has a negative effect on voluntary disclosure, supporting the hypothesis of entrenchment, whereas an excessive ownership by institutional investors may have adverse effects on strategic disclosure decisions. The results also indicate that an increase in the number of members of (...) the board to up to 15 has a beneficial effect on the disclosure of intangibles. However, as this number increases, the effect inverts and becomes adverse to improving the capacity for supervision and control in the decision-making process regarding the voluntary disclosure of intangibles. The findings endorse the recommendation of the most of the Corporate Governance Codes regarding an advisable maximum of 15 members on a board to ensure its effectiveness and internal cohesion. (shrink)

As per the teachings of Islam, social trust involves placing others as the pillars of the Islamic countries, which needs to be maintained. Therefore, any promise or action that undermines the social trust of the people as a social capital is one of the most important anti-social factors that must be dealt with. In view of that, Islam is struggling against hypocrisy as an antisocial trend, because it damages social trust when a hypocrite preaches one thing and does another; in (...) other words, the deeds do not confirm the words. That is why citizens cannot believe and trust in their promises, because such individuals do not fulfil them at any time. In this context, officials are suggested to respect the principle of transparency in the governance of Islamic societies in order to improve citizens’ social trust. Therefore, the present study aimed to investigate the role of transparent governance based on the teachings of Nahj al-Balagha in creating social trust among 428 Iranian Muslim citizens in 2022. In sum, the results indicated that transparent governance has a significant positive effect on citizens’ social trust in the officials of Islamic societies, as calculated by structural equation modelling in Linear Structural Relations (LISREL) (path coefficient = 0.58; t -value = 5.54). Contribution: This study provided a new insight into the role of transparent governance in creating and strengthening social trust among the officials and citizens of Islamic societies, which deserves further attention by governments and researchers. (shrink)

This paper offers a conceptually novel contribution to the understanding of the distinctive governance challenges arising from the increasing reliance on formalized knowledge in the governance of research activities. It uses the current Australian research governance system as an example – a system which exhibits a comparatively strong degree of formalization as to its knowledge mechanisms. Combining theoretical reflections on the political-administrative and epistemic dimensions of processes of formalization with analyses of interview data gathered at Australian universities, (...) it is suggested that such a strong reliance on formalized knowledge has rather ambivalent governance ramifications. On the one hand, it allows for a seemingly rational and efficient form of the control and coordination of research activities. Yet on the other hand, it also increases the risk that knowledge is used in governance contexts in superficial, unconsidered and ultimately unreasonable ways. It is further suggested that there are a range of indications that precisely such use elicits and reinforces a range of dysfunctional behaviors on part of relevant individual and organizational actors in the public science system. (shrink)

This article examines whether and how the participation of women in the firm’s board of directors and senior management enhances financial performance. We use the Fama and French (1992, 1993) valuation framework to take the level of risk into consideration, when comparing firm performances, whereas previous studies used either raw stock returns or accounting ratios. Our results indicate that firms operating in complex environments do generate positive and significant abnormal returns when they have a high proportion of women officers. Although (...) the participation of women as directors does not seem to make a difference in this regard, firms with a high proportion of women in both their management and governance systems generate enough value to keep up with normal stock-market returns. These findings tend to support the policies currently being discussed or implemented in some countries and organizations to foster the advancement of women in business. (shrink)

Shortcomings in the target article preclude adequate tests of developmental/attachment and strategic pluralism theories. Methodological problems include comparing college student attitudes with societal level indicators that may not reflect life conditions of college students. We show, through two principal components analyses, that multiple tests of the theories reduce to only two findings that cannot be interpreted as solid support for evolutionary hypotheses.

In this essay I analyze some conceptual difficulties associated with the demand that global institutions be made more democratically accountable. In the absence of a world state, it may seem inconsistent to insist that global institutions be accountable to all those subject to their decisions while also insisting that the members of these institutions, as representatives of states, simultaneously remain accountable to the citizens of their own countries for the special responsibilities they have towards them. This difficulty seems insurmountable in (...) light of the widespread acceptance of a state-centric conception of human rights, according to which states and only states bear primary responsibility for the protection of their citizens' rights. Against this conception, I argue that in light of the current structures of global governance the monistic ascription of human rights obligations to states is no longer plausible. Under current conditions, states are bound to fail in their ability to protect the human rights of their citizens whenever potential violations either stem from transnational regulations or are perpetrated by non-state actors. In order to show the plausibility of an alternative, pluralist conception of human rights obligations I turn to the current debate among scholars of international law regarding the human rights obligations of non-state actors. I document the various ways in which these obligations could be legally entrenched in global financial institutions such as the WTO, the IMF and the World Bank. These examples indicate feasible methods for strengthening the democratic accountability of these institutions while also respecting the accountability that participating member states owe to their own citizens. I conclude that, once the distinctions between the obligations to respect, protect and fulfill human rights are taken into account, no conceptual difficulty remains in holding states and non-state actors accountable for their respective human rights obligations. (shrink)

This article seeks to make some general points about the changing nature of constitutionalism by looking critically at the constitutional architecture of the Northern Ireland Act 1998. It argues that despite their sophistication the structures of settlement in Northern Ireland do not address fully the fundamental issues of the changing nature of power and the ethical character of constitutional transformation. The argument draws upon the governmentality approach associated with work developing the later writings of Michel Foucault to consider the nature (...) of government and of multi‐level and multi‐form governance. In particular, the account reviews briefly the settlement structures and suggests that the role of government may have changed since last there was devolution in Northern Ireland. Next the history of involvement of the voluntary sector in governance in the Northern Ireland context is outlined to indicate its particular potential for development. Finally, the positive advantages of opening up a new democratic space through developing the role of civil society in the processes of governance are reviewed and the value of a constitutional renewal project is considered. (shrink)

The role of governments in business and society research remains underexplored. The generally accepted principle of voluntarism, which frames responsible business conduct as an unregulated subject under managerial discretion, accounts for this gap. Paradoxically, there are sufficient acknowledgments in academia and practice on different roles of governments. The present article identifies three broad topics for research, addressing the paradox between the principle of voluntarism and the role of governments in B&S, the boundaries of governments and business in their contribution to (...) B&S issues, and the mechanisms of government intervention that affect corporate social performance. The authors approach the first topic with a literature review of 703 articles marked with the term “government” from five journals in the field between 1982 and 2011. This study indicates that the principle of voluntarism remains, despite the broad variety of research related to the role of government in B&S. In addition, the identified content provides deeper insight into the mechanisms of government intervention and on the boundaries of governments in the B&S discourse. This article then provides a summary of the other three research articles included in this special research forum, with a contribution oriented toward the latter two research avenues posited. (shrink)

During the past four decades the governance of environmental problems – the definition of issues and their political and practical resolution – has evolved to include a wider range of stakeholders in more extensive open discussions. In the introduction to this issue of Environmental Values on 'Environment, Policy and Participation' , we outline some features of these recent developments in participatory environmental governance, indicate some key questions that arise, and give an overview of the collection of papers in (...) this special issue. (shrink)

Recent policy changes in the European Union have introduced the requirement for publicly funded research to be published in open access. This can be seen as part of a mode of democratic accountability that not only promotes transparency but also, Naomi Hodgson argues, is constituted by visibility and openness. By drawing attention to the way in which the researcher is asked to understand herself in this policy context, Hodgson illustrates how particular technologies of performance measurement and management, and of publication, (...) enter the researcher into this economy of visibility. The understanding of openness as a corrective to the traditional closed access system of publishing and the marketization of academia is challenged, then, in this article, which indicates how these technologies of reading and writing constitute the researcher as a particular figure in the emergent mode of governance. (shrink)

The emergence of environmental governance practices raises a fundamental question as to whether they are substantive or symbolic. Toward that end, we analyze the relationship between a firm’s environmental governance and its environmental management as reflected in its ultimate outcome, environmental performance. We posit that substantive practices would bring changes in organizations, most notably in terms of improved environmental performance, whereas symbolic practices would portray organizations as environmentally committed without making meaningful changes to their operations. Focusing on a (...) sample of environmentally sensitive firms, results are consistent with environmental governance mechanisms being predominantly part of a symbolic approach to manage stakeholder perceptions on environmental management, having little substantial impact on organizations. Statistical analyses show mostly that there is no relation between environmental governance mechanisms and environmental performance, measured in terms of regulatory compliance, pollution prevention, and environmental capital expenditures. However, there is some indication that environmental incentives are associated with pollution prevention. Interviews with corporate directors shed further light on these results by underlining that environmental governance mechanisms are employed at the board level to protect the organization from reputational and/or regulatory harm, but are not necessarily intended to proactively improve environmental performance. (shrink)

There are various indications that corporations and their leaders are currently not perceived as trustworthy. This decline in trust is one of the factors that has contributed to the rise of interest in corporate governance. There is an explicit expectation that an adherence to the principles and practice of good corporate governance will bolster the trust of stakeholders in business. It is exactly this expectation that provides the focus for this article. The expectation that good corporate governance (...) will result in higher levels of trust will be critically examined. This will be done by first making some crucial distinctions regarding corporate governance in order to clarify what kind of corporate governance is at stake in the examination that is to follow. Also, with regard to the concept of 'trust', a number of important distinctions will be made to clarify what is meant by trust within the context of this paper. Against the backdrop of these distinctions regarding corporate governance and trust, the question will then be refined as to whether, specifically, internal corporate governance can bolster the perceptions of trustworthiness that stakeholders have of business. Principles and practices of internal corporate governance will then be critically examined to determine their potential for enhancing stakeholders' perceptions of the trustworthiness of corporations and their leaders. (shrink)

This article investigates whether increased female representation on a board improves firm performance in terms of electric vehicle (EV) sales in China when government subsidies are available. The increase in EV sales in China is a direct result of the sustainability efforts spearheaded by the various levels of local and state governments. This area is of importance due to the rising Chinese footprint in global EV sales, the increasing role of subsidies, and a transformation from State-Owned Enterprises (SOEs) to market-driven (...) firms that are more likely to pay attention to corporate governance issues such as board diversity. Using the instrumental variable (IV) approach, we estimate a two-stage least squares (2SLS) regression to control for more women representation on EV boards using firm-level data. The results indicate that board gender diversity (BGD) positively impacts firm performance in terms of EV sales. Furthermore, the effect amplifies in the presence of government subsidies. The insights provide valuable contributions to bridge the critical literature gap on how board diversity impacts firm performance in the presence of subsidies and offer valuable insights into corporate governance and policymaking. (shrink)

Taking advantage of the China’s recent anti-corruption campaign, we attempt to examine the effect of public governance on a firm’s incentive to commit fraud. Using enforcement actions data from the Chinese Securities Regulatory Commission (CSRC) from 2004 to 2014, we find that, due to enhanced public governance, firms are less likely to commit fraud in the post-campaign period than in the pre-campaign period. We further show that the effect of public governance is more evident in privately held (...) listed firms, in firms with weak legal environment, and in firms in areas with poor local economies. In addition, we find that older CEOs respond less actively to the public governance caused by anti-corruption regulations. This paper offers clear policy implications for business ethics by indicating that public governance provides external monitoring of corporate decisions. (shrink)