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The organizational design of subcontracting in the construction industry has received limited attention. This article integrates transaction cost economics and resource-based view to investigate how the governance capabilities of the general contractor impact the organizational arrangement of subcontracting and how the goal orientation of project moderates these relationships. Regression analyses were conducted on information collected by a questionnaire survey administered to a sample of 279 respondents who were employed by Chinese general contractors and who were privy to strategy information in construction projects. The results showes that the general contractor with strong governance capabilities tends to increase the extent of the work to be subcontracted and the dispersion of subcontractors used in projects. Moreover, these relationships change when the goal orientation in projects differs. In projects that display an exploitative goal orientation, the positive impact of governance capabilities on the extent of subcontracting will be weakened while the impact on subcontractor dispersion will be strengthened. In contrast, the relationship between governance capabilities and the extent of subcontracting will be stronger, and the relationship between governance capabilities and the subcontractor dispersion will be weaker in projects that exhibit an explorative goal orientation. The findings contribute to the subcontracting literature by distinguishing between the extent of subcontracting and subcontractor dispersion and by highlighting the importance of the general contractor's governance capabilities and project goal orientation when setting up a subcontracting arrangement.

This paper studies the asset pricing implications of industrial pollution. A long-short portfolio constructed from firms with high versus low toxic emission intensity within a given industry generates an average return of 4.42% per annum, which remains significant after controlling for risk factors. This pollution premium cannot be explained by several explanations, including existing systematic risks, investors' preference, market sentiment, political connections, and corporate governance. We propose and model a new systematic risk related to environmental policy uncertainty. We use the growth of environmental litigation penalties to measure regime change risk, and find that it helps price the cross-section of emission portfolios' returns.

Rural social enterprises are increasingly recognized as organisations that contribute to local development by providing goods and/or services to meet community needs and by fostering inclusive social and governance relations. The purpose of this paper is to explore how rural social enterprises engage in a plurality of socio-economic relations with different dimensions of their ‘place’ when contributing to the development of their localities. Based on three in-depth case studies of social enterprises operating in rural Ireland, our findings illustrate how rural social enterprises engage with locational, institutional, material and identity aspects of their ‘place’, which indicates their ‘placial embeddedness’. Moreover, our findings also demonstrate how these organisations engage in, and combine market, redistribution and reciprocity relations, which indicates their ‘substantive hybridity’. Based on the interrelated nature of these findings, we argue that it is through a process of placial substantive hybridity that rural social enterprises foster social innovation in order to contribute to an integrated development of their localities. They harness and (re)valorise (untapped) local resources while complementing these with other resources from extra-local sources and accommodate and/or respond to structural-exogenous forces based on the needs of their local population in line with neo-endogenous rural development.

The phenomenon of rural marginalisation has intensified across the European Union after the 2008 global economic crisis, since the traditional state forms have been proved unable to promote an all-inclusive governing. Beyond-the-state governance systems are socially innovative, horizontal, networked, and collaborative institutional arrangements that are committed to breaking through this rural marginalisation. Marginalised rural areas provide a favourable context for socially innovative governance, since they contain small cohesive communities, while at the same time poor governing penetrates them. Nevertheless, social innovation in rural governance remains largely unexplored. The novel contribution of this article consists in underlying this research gap and exploring the question of how socially innovative governance is fostered or impeded within marginalised rural regions. Comparative research was conducted in between the marginalised rural regions of Muhlviertel in Austria, Baixo Alentejo in Portugal, and Phthiotis in Greece. The comparative results revealed some of the parameters that foster socially innovative governance; a decentralized government structure, advanced interregional networking, a discourse dissemination among the stakeholders and the civil society, as well as an organizational stability of the involved institutions for social innovation to become embedded. This article points to socially innovative governance that has a more codified and systematized hypostasis by recommendation of unique governance qualities.

This article addresses the challenge of combining ecosystem protection with economic development. The setting is societies living near a national park in a poor and peripheral part of Indonesia. Da...

International audience; Using an approach that embodies an explicit tradeoff between need and governance considerations, we propose an optimal aid allocation formula. We first assume exogenous, then endogenous governance. In the former case, a central concept is need-adjusted aid effectiveness while in the second case the donor has policing instruments under the form of monitoring and sanctioning capacities. We show that external disciplining has two advantages when the donor is sensitive enough to poverty intensity: (1) to cater to poor countries to a greater extent than is possible when local governance cannot be influenced by external forces, and (2) to respond (non-perversely) to improvements in the local governance of a country by raising its aid share. In institutionally weak countries, populations should welcome wisely applied donor's discipline as a way not only to get access to financial support but also to constrain their elites to refrain from abusing their position excessively. Imposing discipline when the release of externally-provided development funds is at stake seems more acceptable than aid directed to the explicit purpose of combatting corruption.

As organizations increasingly view information as one of their most valuable assets, which supports the creation and distribution of their products and services, information security will be an integral part of the design and operation of organizational business processes. Yet, risks associated with cyber attacks are on the rise. Organizations that are subjected to attacks can suffer significant reputational damage as well as loss of information and knowledge. As a consequence, effective leadership is cited as a critical factor for ensuring corporate level attention for information security. However, there is a lack of empirical understanding as to the roles strategic leaders play in shaping and supporting the cyber security strategy. This study seeks to address this gap in the literature by focusing on how senior leaders support the cyber security strategy. The authors conducted a series of exploratory interviews with leaders in the positions of Chief Information Officer, Chief Security Information Officer, and Chief Technology Officer. The findings revealed that leaders are engaged in both transitional, where the focus is on improving governance and integration, and transformational support, which involves fostering a new cultural mindset for cyber resiliency and the development of an ecosystem approach to security thinking. Managerial relevance statement Our findings provide interesting insights for managers particularly those in the role of Chief Information Officers (CIOs), Chief Security Information Officers (CSIOs), and Chief Technology Officers (CTOs). We propose a Cyber Security Strategy Framework (CSSF) which can be used by these information/technology managers to design an effective organizational strategy to develop cyber resilience in their organization. Our framework suggests that managers should focus on transitional and transformational support. The transitional support focuses on improving governance and integration whereas transformational support focuses on the emphasis of fostering a new cultural mindset for cyber resiliency and the development of an ecosystem approach to security thinking. Our findings provide good evidence showing how leaders can support more effective cyber security initiatives.

Contracts are crucial for curbing opportunism, a common phenomenon in construction projects. This article differentiates among the contractual mechanisms of obligatoriness, monitoring, and coordination, and studies the relationships between the complexity of the above functions and different types of opportunistic behavior. Using data from 262 clients (i.e., the parties issuing contracts) in the Chinese construction industry, this article reveals that contractual obligatoriness has a negative effect on strong-form opportunistic behavior. At the same time, contractual monitoring and coordination have positive and negative effects, respectively, on weak-form opportunistic behavior. Furthermore, we find that goodwill trust mediates contractual coordination's effect on weak-form opportunistic behavior. This article contributes to both the contract management literature and the interorganizational relationship governance literature by providing more nuanced findings that speak to the debate surrounding the relationship between contractual governance and opportunistic behavior, elaborate the mediation mechanism, and provide insights into the contractual function view.

In the post-Bitcoin era, many cryptocurrencies with a variety of goals and purposes have emerged in the digital arena. This article aims to map cryptocurrency protocols across three main defining dimensions, which are governance decentralization, security, and scalability. We theorize about the organizational and technological features that impact these three dimensions. Such features encompass roles permissiveness, validation network size, resource expenditure, and number of transactions per second. We map the different cryptocurrency constellations based on their consensus mechanisms, discussing the organizational and technological features of the various protocols applications and how they experience and play with the tradeoffs among governance decentralization, security, and scalability.

How are extensive internet control, surveillance and restricted online anonymity reconceptualized into virtues of effective state governance, rather than violations of civic rights? The Russian government has instrumentalized ostensibly sound legitimations - countering terrorist and extremist propaganda, combatting child pornography - to bring about a dramatic decline in internet freedom. While these policies have been widely studied, scholarship examining how the Russian government legitimates and cultivates popular support for restricting online freedoms remains scarce. This article therefore studies how restrictions of internet freedom are framed in political and media discourses. It focuses on the case of Telegram, a popular messaging application that was banned in Russia in April 2018 for its refusal to provide the FSB with access to encrypted messages in compliance with anti-terrorism legislation. It finds that media framing of the ban was more diverse than the official governmental line. While national security framing was important, the 'rule of law' frame occurred most frequently, and conspiracy framing was markedly infrequent.

Amaphela, meaning cockroach in isiXhosa, are a form of paratransit that provide township dwellers in Cape Town, South Africa with flexible, inexpensive and relatively comfortable transportation in combination with other formalised and semi-formalised services. While this shared mobility practice has received scant attention through the lens of paratransit and transportation geographies, amaphela have completely evaded analysis through the lens of mobility studies. The flexibility and informality of amaphela services can be understood through both utopian or dystopian lenses: It can be seen as a threat to order, formality, safety and reliability in the modern South African city; or it can be celebrated for the unique and creative ways that they negotiate township space while serving the public through flexible and affordable demand-driven service. This paper concludes that amaphela services in Cape Town thrive in an intermediate zone of adaptive infrastructure and governance to fulfil their mobility role.

The authors examine the problem of integrating urban sensing into engaged planning. The authors ask whether enhanced urban data and analysis can enhance resident engagement in planning and design, rather than hinder it, even when current urban planning and design practices are dysfunctional. The authors assess the outcomes of a planning and design effort in Charlottesville, Virginia, USA. Community-Centered Urban Sensing is a participatory urban sensing initiative developed by urban planners and designers, architects, landscape architects, and technologists at the University of Virginia to address the need for actionable information on the urban environment through community-engaged urban data collection and analysis. These findings address how technological urbanism moves from data to action, as well as its potential for marginalization. Finally, the authors discuss a conceptualization of smart and engaged planning that accounts for urban dysfunction. The smart cities paradigm should encompass modes and methods that function even when local urban systems are dysfunctional.

The analysis of Regional Innovation Systems (RIS) in Latin America has grown from both academic and policy perspectives. However, the dominant structural approach on RIS has limited the scope of analysis, overlooking the functional dynamics that take place in such systems. This paper addresses the question of how to conceive the governance of RIS from a functional perspective, by conducting a case study on the emerging Risaralda RIS (Colombia), which stands out for its innovative performance while still displaying important systemic failures. We specifically inquire into the strengths, weaknesses, integration dynamics and functions of this RIS. Results show a system with institutional and governance failures, which is host to a disperse network of stakeholders and innovation processes that include prioritized and enabling functions. We discuss these results and propose a governance framework that was collectively outlined with the participation of stakeholders in the RIS of Risaralda.

Relations between US and Chinese corporations are increasingly strained. We examine how differences in the key domains of corporate governance, underlying corporate philosophy, innovation, and dispute resolution contribute to this strained relationship. We illustrate these differences by examining the relations between Skyworks Solutions (US) and ZTE (China). We discuss the three broad strategies available to US managers in engaging with Chinese corporations, depending on the extent of their involvement and comfort with discord: playing ball, straddling the middle ground, or decoupling.

China's rapid urbanization process has pushed rural villages into an urban-rural integration movement. Several modes and approaches have been applied to remake space in rural China, which differ greatly in restructuring outcomes. In response, this article builds on the insights of regime theory to develop a conceptual framework to reveal the mechanism behind China's rural spatial restructuring and seeks to explore the underlying reasons that affect the outcomes. It is found that resource adequacy, the quality of resource coalition, and the effectiveness of implementation determine the rural regime's capacity to manage spatial restructuring. Case studies from Hua County, Chaohu City, and Shenzhen are used to illustrate the conceptual framework's application and facilitate a comparative analysis from the perspective of rural regime capacity. The findings provide a critical rethinking of the “sustainable remaking of rural space”, which could therefore shed light on the rural governance of countries in the global south generally.

Discussions of China's hollowed village reconstruction (HVR) program tend to divide initiatives into community-based model (CBM, led by local actors which is also called bottom-up model) and government-led model (GLM, driven by policy makers which is also called top-down model). In this paper, we propose a theoretical framework, which goes beyond these two models. Then, we take three typical villages which experienced different models of HVR in recent years as case studies, exploring the intersection of the process of decision-making, the structure of governance and the performance of projects. Both theoretical analysis and case studies show that a hybrid governance structure (HGS), with limited range of reconstruction in the distribution and functions of rural land, is most in line with China's background for HVR and rural vitalization. The participatory process is very important for these three modes, with villages and communities as the important carriers for participation and interaction. Not only villagers can truly participate in the planning and decision-making process in the HGS's approach, which enables villagers to have more autonomy, but also enhanced the project's performance by integrating villagers' interests and willingness with government proposals, matching the subjective and the objective conditions. This research indicates that we can integrate diverse driving forces of village revitalization, pay more attention to the governance's structure and operating models of reconstructing. More importantly, this study responds to Elinor Ostrom's common-pool resource theory and suggests a way forward in the public governance of rural vitalization in contemporary China.

In this paper we explore Lawrence Stenhouse’s (1981) provocation that too much research has been conducted for the world and not enough for the village. This provocation has taken on additional significance in contemporary global policy contexts where neo-liberal systems of governance incorporate discourses of educational effectiveness, measurement, standards, quality and sustainable development. Reform movements draw attention to what forms of professional development are effective in the complex global-national policy agendas, with diverse cultural-historical and socio-political contexts. Furthermore, teachers’ work is changing and intensifying under neo-liberal systems of governance, specifically what they have to do to interpret and not just to implement policies. Drawing on two contrasting case studies of teacher research in England and Kazakhstan, we examine ‘outside in’ and ‘inside out’ approaches to teacher development. We problematize the concepts of teacher autonomy, the interpretational work of teachers in the context of policy intensification, and strategic compliance as a pragmatic and necessary response to policy frameworks and their intended and unintended consequences. We conclude by suggesting a hybrid, dialectical approach to professional development which sustains teacher autonomy and professionalism.

This article examines critical environmental reporting of the Chinese smog crisis, also known as the PM2.5 crisis, which are episodes of heavy particulate air pollution. By focusing on the sequence of media attention on PM2.5 standards and metrics, I show how the narrow focus on smog pollution developed into a broader critique of China's economic development model and of how government makes and carries out policy. I argue that environmental journalists have played a key role in promoting accountability on governments for tackling smog. At different stages of the smog crisis, journalists managed to show or create links between PM2.5 metrics and wider issues of public health, economic development, political power, social injustice, civic involvement and China's place in the world. They were able to employ the smog issue to make broader political and economic critiques, demanding greater government accountability and transparency in smog governance. Journalistic criticisms intensified public pressure on the authorities for reducing pollution and improving air quality.

Conventional political thought and practice continue to be stifled by a dilemma of choosing between the ideal imaginaries of State and/or Market solutions. Widely presupposed as the only valid possibilities in both theory and practice, this stale dilemma covers up a real multitude of actually existing alternative approaches to governance practiced in civil society. State/Market approaches are identical in the way that they construct a ‘spectator’ role for communities, who are left to choose between their preferred set of rules and norms developed elsewhere. The concept of commoning governance offers an opportunity to break free of this stalemate. It creates a new role for citizens and their communities as ‘sparring partners’; who although they operate within the limits of current State/Market institutions, create new norms and rules against and beyond them. In the paper, we first expand on our understanding of commoning governance: re-designing governance arrangements to serve the common good. That is here understood in terms of (radical) democracy, solidarity and sustainable ecological relationships. Second, we illustrate how commoning efforts on the ground contribute to the reclaiming of the democratic imaginary as a political arena by zooming in to a case study of the three cities involved in civic-led network of German Food Policy Councils. Finally, we reflect on the empirical barriers that communities of commoning endure, and call on policymakers, planners and scholars to interrogate their own normative understandings of citizenship and democracy, and begin to recognize theoretical and latent possibilities by enabling commoning with new or re-designed institutions of governance.

We investigate how CEOs’ implicit motives can shape firms’ competitive intensity in response to external threats. We examine this phenomenon in the context of short seller activism, which occurs when an activist short seller publicly denounces a firm to drive down its stock price. Implicit motives are motivational dispositions that operate outside of an individual’s conscious awareness. We find that CEOs’ implicit needs for achievement and power are associated with a decrease in competitive intensity following short seller activism, implying that implicit motives can lead CEOs to avoid behaviors that they fear may result in failure or the exposure of weakness in the wake of an external threat. This study contributes to research on external threats and corporate governance by highlighting the role of CEOs’ implicit motives in shaping firms’ responses to activists. We emphasize the importance of integrating implicit motives into upper echelons research.

The European Union (EU) aspires to be an important global agenda-setter on how to treat and regulate the growing plastics problem. We present an analysis of the plastic policy narratives shaping European plastics governance, in particular through the European Commission’s Plastics Strategy. Our aim is to first uncover the policy narratives at play, and then examine how actors make use of those narratives through strategic construction. Based on interviews with key stakeholders and document analysis, we identify four narratives: fossil feedstock dependency, resource inefficiency, pollution, and toxicity. We find that the resource inefficiency and pollution narratives figure most prominently in European plastics governance, and that the circular economy is being advanced as a policy solution that cuts across the different narratives. However, surface agreement on the need for ‘circularity’ hides deeper-lying ideological divisions over what exactly the circular economy means and the different directions this implies for plastics governance.

It is widely recognised that the formal institutional context affects firm ownership concentration. However, the impact of the informal institutional context has received less research attention. Drawing from institutional theory, we tested our hypothesis that both the formal and informal (cultural) institutional contexts simultaneously influence firm ownership concentration. Based on a firm-level database of the largest 600 listed companies in 19 European countries for the period 2009–2015, we found that both formal and informal institutional contexts, considered independently from each other, affect the level of firm ownership concentration. However, when these institutional contexts are considered together, the significance of the formal institutional context's effect on ownership concentration disappears while the informal (cultural) institutional context remains significant. Specifically, our findings indicate that high power distance, collectivism, uncertainty avoidance, restraint, and short-term orientation favour firm ownership concentration. Overall, our findings demonstrate that the diversity in European cultures explains firms' different levels of ownership concentration across European firms, signalling that the European Union's efforts towards a common regulatory frame may not necessarily lead to a convergence of European firms' ownership structures and, consequently, of corporate governance practices. SI Ministerio de Economía y Competitividad Ministerio de Economía, Industria y Competitividad Ministerio de Ciencia, Innovación y Universidades

Irrefutable evidence shows that greater openness toward external partners enhances a firm's ability to solve innovation-related problems. To manage open innovation (OI) projects, firms use a variety of governance modes, including market-based contracts, platform intermediaries, and equity and non-equity partnerships. While innovation projects can be very diverse and characterized by various attributes, such as complexity and knowledge hiddenness, only a few conceptual studies have hitherto considered project attributes as drivers of OI governance mode selection. Using a sample of 85 OI projects and a set of illustrative cases, this article explores empirically how project attributes influence OI governance mode selection. This empirical study advances previous conceptual work on OI governance. By accounting for project-level heterogeneity, we explore the microfoundations of OI and provide more stable and fundamental insights into OI governance than previous industry- and firm-level analyses did. In addition, we suggest that effective OI management depends on matching project attributes with the benefits and costs of specific governance modes. Finally, we argue that this study enhances understanding and conceptualization of the relationship between project complexity and decomposability in the context of OI.

Capitalism works when actors are motivated to engage in joint value creation. Stakeholder theorists have long argued that this is most likely when firms “manage for stakeholders,” but have only recently explicitly recognized that stakeholders engaged in joint value creation face collective action problems: situations in which stakeholders may be tempted to pursue their own interest at the expense of maximizing joint value creation. We build on the work of Elinor Ostrom on solving collective action problems to develop theory about how to govern joint value creation when managing for stakeholders. Specifically, we use Ostrom’s design principles to contrast the hub-and-spoke form of governance central to much of the stakeholder literature with two alternative governance forms (lead role governance and shared governance) that we derive from Ostrom’s work, and we discuss the comparative effectiveness of these three governance forms as depending on the nature of the joint value creation activities. Our work contributes to stakeholder theory as an integrative perspective on the role of management and governance in fostering cooperation in modern capitalist systems, where joint value creation increasingly involves stakeholders outside the boundaries of the firm as traditionally understood.

Although network governance has become increasingly popular in both research and practice, its anticipated benefits do not always materialize. Although literature on network governance acknowledges the challenges that result from its introduction, scholars tend to assume these challenges can be managed and rarely analyze how the different participating actors (strategically) react to the tensions surrounding its establishment. As such, the process of how “networking” actors establish, maintain, and negotiate a network remains understudied. In light of these shortcomings, this article zooms in on how actors, in their collaboration efforts with network partners, navigate the tensions between (a) their discretionary space and the parameters set by a central policymaker, and (b) their pursuit of both integration and differentiation. This ethnographic case analysis contributes by, first, revealing how local actors demonstrate agency in maneuvering between these tensions in everyday practice by adopting three strategies—that is, overwhelmed deflection, situational segmentation, and strategic reappropriation—and, second, by revealing how these tensions interact and subsequently affect the implementation of policies in networks.

This paper explores the resilience of the urban informal economy through multi-dimensional conflict. Karachi constituted an ideal case study for the research given the intensity and paradigmatic nature of the multi-dimensional conflict experienced in the city between 2008 and 2013. The paper applies a comparative frame in three sites (Sadar, Orangi and Lyari) to illustrate resilience of the informal economy and its role in supporting the urban poor in Karachi to survive and sometimes thrive, whilst also contributing to peaceful recovery and adaptation, albeit persistent divisions mean violence remains possible. The paper argues for greater recognition of and support for informal economies in urban policy, marking a shift away from the predominant neoliberal forms of governance that diminish the role of the state and burden already vulnerable people with the greatest risks, particularly in fragile, conflict-affected situations where half the world’s poor are predicted to live by 2030.

By tackling shared problems through concerted policies, the European Union (EU) is thought to have a superior output legitimacy. However, EU policies change as they are being ���customised��� during the implementation process. How do such patterns of ���differentiated implementation��� affect EU governance in practice? While some studies highlight the danger of ���watering down��� the objectives of EU law, others emphasise the role of decentralised problem-solving. We analyse how customisation affects states��� practical compliance with EU anti-discrimination, environmental, and justice and home affairs directives in 27 member states (excluding Croatia) between 2007 and 2013. The findings show that customised density (higher number of rules than prescribed by the EU directives) reduces practical compliance. Conversely, customised restrictiveness (stricter requirements than the EU directives) improves practical compliance. In contrast to earlier implementation research, we conclude that literal implementation is not the best form to ensure practical implementation.

This paper evaluates the effects of encouraging the selection of local politicians in India via community consensus, as opposed to a secret ballot election. Using village-level data on candidates, elected politicians, government budgets, and workfare employment, I show that incentives for consensus elections lead to politicians who are more educated but less likely to be drawn from historically marginalized castes and increase how regressively workfare employment is targeted. These results are supported by qualitative evidence that shows that consensus elections are prone to capture by the local elite, which may reduce the need for clientelistic transfers to the non-elite.

This paper investigates how corporate governance of unlisted firms in an emerging market economy affects financing constraints, measured by the sensitivity of investment to cash flow. In order to evaluate the quality of corporate governance, we develop two corporate governance indices based on a large-scale survey of Russian enterprises – one for shareholder protection and one for transparency. We estimate standard investment regressions where the cash flow variable is interacted with our corporate governance indices and variables capturing the ownership structure. The central result is that better shareholder protection diminishes the cash flow sensitivity of investment, particularly in firms with an outside controlling owner. In contrast, we do not find such an effect for transparency, which can be partially explained by the threat of hostile takeovers. We address the problem of the endogeneity of corporate governance by using fixed-effects regressions and a novel instrumental variable based on particular legal provisions for corporate governance in Russia depending on the number of shareholders.

Executive committees make critical decisions regarding project selection in different ways. In a committee operating under a democratic governance structure, all members have the right to vote, but the majority of voters ultimately decide which projects to undertake. Alternatively, in a committee operating under an elite governance structure, the decision is made only by a restricted number of voters. Therefore, in an elite governance, there are decision makers or “elite” members, and non-decision makers or “common” members. In this article, we study how committee members under either a democratic or elite governance structure interact and communicate information to each other, and ultimately make a decision about a project with uncertain revenues. We find that the efficient committee governance structure, i.e., the one that maximizes the expected surplus of the committee, can be determined by focusing on one specific communication between elite and common committee members. Further, we establish a sufficient condition on the revenues distribution for each governance structure to be efficient. Finally, when this sufficient condition on the revenues distribution does not hold, we find that governance efficiency depends on the probability of the decision makers to learn the true value of the revenues being sufficiently high or the one of the non-decision makers being sufficiently low or both these two conditions.

This paper examines the effects of country-level governance—such as voice and accountability, political stability, government effectiveness, regulatory quality, rule of law, and control of corruption—on the capital structure and investment financing decisions of firms. The full sample consists of 31,749 firms in 65 countries between 1996 and 2017. We find that firms operating in countries with stronger governance decrease their leverage while increasing their debt maturity. Specifically, we show that they decrease their reliance on short-term debt issuance while they increase their reliance on long-term debt and equity issuances in financing capital expenditures. Our findings are robust to endogeneity issues and alternative model specifications.

This 1.5-year ethnographic study of a U.S. medical center shows that avoiding loss of autonomy and work intensification for less powerful actors during digital technology introduction and integration presents a multisited collective action challenge. I found that technology-related participation problems, threshold problems, and free rider problems may arise during digital technology introduction and integration that enable loss of autonomy and work intensification for less powerful actors. However, the emergence of new triangles of power allows for novel coalitions between less powerful actors and newly powerful third-party actors that can help mitigate this problem. I extend the political science perspective of experimentalist governance to examine how a digital technology-focused, iterative collective action process of local experimentation followed by central revision can facilitate mutually beneficial role reconfiguration during digital technology introduction and integration. In experimentalist governance of digital technology, local units are given discretion to adapt digital technologies to their specific contexts. A central unit composed of diverse actors then reviews progress across local units integrating similar digital technology to negotiate a new shared understanding of mutually beneficial technology-related tasks for each group of actors. The central unit modifies both local routines and the technology itself in response to problems and possibilities revealed by the central revision process, and the cycle repeats. Here, accomplishing mutually beneficial role reconfiguration occurs through an experimentalist, collective action process rather than through a labor-management bargaining process or a professional-led tuning process.

This paper examines the effect of corporate social responsibility on firm performance by accounting for the role of Intellectual capital efficiency as a mechanism underlying Corporate Social Responsibility (CSR)– firm performance association. In this study, we consider 2132 US companies and develop a structural model for CSR, Intellectual Capital (IC), and firm performance while contemplating endogeneity issues in analyses over the period of 2009–2018. The value-added intellectual capital co-efficient is employed as a proxy measure for IC performance, taking into consideration corporate performance and governance measures. The findings suggest that CSR has a significant effect on firm performance. In particular, the findings reveal that CSR has a link with IC, indirectly affecting a firm performance, and the association between CSR and firm performance is partially mediated by Intellectual capital efficiency.

This study takes the three dimensions of CSR, namely, economic (G), social (S), and environmental(E) dimensions, and the three indicators of corporate governance performance, stakeholders and environmental information disclosure, to explore the relationship between family business of CSR and brand value and determine whether the CSR performance of companies in electronic and non-electronic industries has significantly positive effect on brand value. According to the empirical results, regardless of industry, a better CSR performance by a family business has stronger effect on brand value than that of non-family business. Regardless of industry, a better CSR in both electronics and non-electronics companies exerts a significantly positive effect on brand value. A strong tie between family business in an non-electronic industry and the stakeholder contributes to a higher brand value of an enterprise; a higher degree of environmental information disclosure of an electronics family business exerts greater influence on brand value than does a non-electronics family business.

This study empirically investigates the effect of an Islamic label on environmental, social, and governance (ESG) performance. Islamic firms in Indonesia and Malaysia that are characterized by lower debt and lower non-sharia compliant income and have a higher ethical standard are expected to make a better contribution to the environment and society. Testing firms in Indonesia and Malaysia, two emerging countries in ASEAN (Association of Southeast Asian Nations), reveals a significant difference in overall environmental and social performance, but not in governance quality. Also, the study documents the significant effect on performance of using Islamic criteria for leverage, accounts receivable, and cash. Overall, after controlling for some variables and splitting the sample into different time horizons and firm sizes, the study consistently reveals that firms labeled as Islamic have better environmental and social performance, but not governance performance. The relevant policies should be adjusted. Jel classifications G21, G29.

This paper investigates the association of corporate reporting and executive network centrality, which measures an executive’s relative position in a massive network consisting of outside corporate leaders. I find that high-centrality chief executive officers (CEOs) and chief financial officers (CFOs) are generally more likely to engage in financial misreporting than low-centrality CEOs and CFOs. I also find that the influence of CFO network centrality is greater than that of CEOs in financial misreporting. Further analyses show that the monitoring effect of internal governance mechanisms on high-centrality executives is very limited and that the discipline of the managerial labor market is weaker for high-centrality CFOs as well. My results hold for a subsample subject to exogenous shocks to CFO connectedness and are robust to a series of alternative specifications including using CFO fixed effects. Taken together, my findings suggest that corporate reporting can be influenced by executives’ social network position, with high-centrality CFOs using their social power to make adverse corporate reporting decisions to gain personal benefits. This paper was accepted by Brian Bushee, accounting.

This paper shows that hedge fund activism is associated with a decrease in mergers and acquisitions (M&A) and offer premiums and an increase in stock and operating performance. Activist hedge funds improve target firms’ M&A performance by reducing poor M&A, diversifying M&A, and the M&A of firms with multiple business segments. Activist hedge funds improve target firms’ M&A decisions by influencing their governance practices. We show that our results are unlikely driven by selection bias. Overall, activist hedge funds play an important role in the market for corporate control by increasing the efficiency of target firms’ M&A activities through interventions. This paper was accepted by Gustavo Manso, finance.

This paper considers the cases of urban redevelopment at waterfront and brownfield sites in Copenhagen (Denmark) and Hamburg (Germany) to explore how two municipal governments have pursued divergent kinds of entrepreneurial governance, even as they have aimed to create similar kinds of new-build neighbourhoods. Copenhagen and Hamburg have both engaged in large-scale speculative development projects, simultaneously raising urban land values and adding urban public good. The cities follow a long tradition of using land value capture to raise funds for municipal activities, yet their scopes of action and tools for achieving progress have been shaped by local economic and political conditions. Although both cities began redevelopment at similar kinds of sites in the 1990s, Copenhagen’s municipal government was relatively impoverished, while Hamburg’s municipal government was relatively wealthy. As a result, even though both cities deployed state-owned enterprises (SOEs) and revolving funds models to reinvest revenues in future development, they possessed different potential strategies for increasing intercity competitiveness: Copenhagen’s immediate aim in redeveloping its Ørestad and harbour districts was to fund a citywide mass transit system and thereby enhance competitiveness through infrastructure development, while Hamburg sought to use its HafenCity waterfront redevelopment to boost competitiveness through port modernisation, increased in urban quality and commercial expansion in the city centre. By comparing these two cases, we can better understand the contingent nature of entrepreneurial governance and urban redevelopment processes.

This article discusses how cross-sector partnerships (CSPs) for sustainability manage the paradoxical tension between stakeholder inclusiveness and administrative efficiency. Drawing on qualitative data from a case study of a CSP focused on urban sustainability, we show how the inclusiveness–efficiency paradox unfolded throughout the studied collaboration. We discuss how the paradox reemerged in a different guise within each phase of the partnership and how three practices of paradox management helped actors to cope with the tension: “customized inviting” (during the formation phase), “sequential including” (during the preparation phase), and “tailored instructing” (during the implementation phase). On the basis of these findings, we argue that (a) the paradox reoccurred throughout the phases of the CSP because the three paradox management practices accentuated boundaries, thereby helping to resolve the paradox temporarily while at the same time creating grounds for the paradox to resurface, and (b) that the three paradox management practices can be theorized as a special type of boundary work that “plays up” relevant differences between actor groups and thereby ensures collaboration.

Central for governance, official statistics are far from natural artefacts. The purpose, meaning and interpretation of statistical conventions evolve across time and space, in relation to social an...

Managing transboundary river basins proves a challenge for China when encountering disagreements with its neighbors that experience different political and social conditions. This paper analyzes what happens when China characterizes water as a security issue, examining China’s fluid securitization practices, where changes can be identified indicating that the Chinese government values the various water security concerns differently. Two cases are adopted for comparison. In the case of China sharing the Mekong River, the Chinese government has shown a willingness to incorporate more issues found both inside and outside of the water sector. In contrast, in the case of the sharing of the Ganges-Brahmaputra-Meghna, China’s security agenda has been limited to the consideration of water availability and has led to military security concerns. The findings indicate that China’s water security agenda is not only driven by a concern for water management over specific rivers, but also judgments that incorporate strategic military consideration with regard to countries that they are involved with. The case of China thus suggests that water security is a complex domain that demonstrates competing values and concerns in (de)politicizing water. Therefore, water-related security issues cannot be understood solely from an environmental policy perspective.

Contains fulltext : 247658.pdf (Publisher’s version ) (Closed access) Third-sector organizations (TSOs) in Europe have been confronted with profound changes to their regulatory and societal environments. By applying the concepts of “organizational paradoxes” and “governance,” we analyze how TSOs have adjusted their governance as a response to these environmental challenges. Based on organizational case studies in France, Germany, and the Netherlands, we argue that TSOs have found multiple ways to address tensions at the organizational level, for example, by mobilizing and combining resources, re-arranging their organizational governance and by adopting new legal forms. These changes have resulted in hybridization and increased organizational complexity that might translate into the emergence of new paradoxes at the organizational level. Therefore, dealing with paradoxes constitutes an ongoing process for TSOs that goes beyond incremental adjustments. 07 april 2021 23 p.

How we define our problems determines the solutions; yet problem framing within coastal management is rarely critiqued. Consequently, opportunities for comprehensive policy response, vital in addressing the complex challenges impacting the coast, are missed. To address this gap, we develop and apply coastal sustainability paradigms to critique 48 institutional instruments contributing to coastal management in Australia. In doing so, we uncover similarities and differences in the framing of coastal sustainability within Australian coastal management. An anthropocentric framing dominates, particularly at the local scale, prioritising humans over the environment. However, differences exist between and within jurisdictions based on sector and recency of policy reform. We also find evidence of problem-solution coupling, with some States prioritising hazard management over coastal management, through legislative backing of select instruments and sectors. The findings provide those involved in the complex system of coastal governance with the information needed to consider how the chosen framing supports or impedes public engagement and cross-scale and cross-sector coordination.

Until the recent outbreak of the COVID-19 pandemic, the growth of tourism had confronted many destinations with policy decisions that had impacted regional ecosystems and the quality of life of their resident population. To counter the threats driven by dominant tourism growth models, a number of tourism scholars have called for revisiting the philosophical foundation upon which tourism activities are developed. Informed by debates in philosophy and the wider social sciences, including tourism scholarship, this conceptual paper, therefore, suggests an alternative governance paradigm for tourism destinations, which is articulated in four propositions that reflect a new materialist perspective. These propositions are a monist post-anthropocentric ontology, a participatory epistemology, resilient forms of tourism and participation as methodologies, and social eudaimonia as societal value. The core argument presented in this paper is that the Anthropocene requires tourism destinations to espouse alternative governance approaches drawing from ideas emerging from new materialist scholarship. © 2021 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group.

This article explains why some indigenous communities in Mexico have been able to resist drug cartels’ attempts to take over their local governments, populations, and territories while others have not. While indigenous customary laws and traditions provide communal accountability mechanisms that make it harder for narcos to take control, they are insufficient. Using a paired comparison of two indigenous regions in the highlands of Guerrero and Chihuahua—both ideal zones for drug cultivation and traffic—we show that the communities most able to resist narco conquest are those that have a history of social mobilization, expanding village-level indigenous customary traditions into regional ethnic autonomy regimes. By scaling up local accountability practices regionally and developing translocal networks of cooperation, indigenous movements have been able to construct mechanisms of internal control and external protection that enable communities to deter the narcos from corrupting local authorities, recruiting young men, and establishing criminal governance regimes through force. Resumen Este artículo explica por qué algunas comunidades indígenas en México han podido resistir los intentos de los cárteles de la droga de conquistar sus gobiernos locales, poblaciones y territorios y otras no. Aunque los sistemas normativos indígenas dotan a las comunidades de mecanismos internos de 'accountability' que le dificultan al narco tomar el control, estas instituciones resultan insuficientes para contener al narco. A partir de una comparación de dos regiones indígenas de las sierras de Guerrero y Chihuahua –dos zonas ideales para el cultivo y tráfico de drogas– mostramos que las comunidades más capaces de resistir la conquista del narco son las que han sido parte de una larga historia de movilización social, mediante la cual han logrado expandir los sistemas normativos locales para construir regímenes de autonomía étnica regionales. Al escalar las prácticas locales de 'accountability' a nivel regional y desarrollar redes trans-locales de cooperación, los movimientos indígenas han desarrollado los mecanismos de control interno y de protección externa que les permiten a las comunidades evitar que los narcos corrompan a sus autoridades locales, recluten a sus jóvenes y establezcan regímenes de gobernanza criminal a través de la fuerza.

Student voice in governance and decision-making has become ubiquitous in higher education, evolving from buzzword to orthodoxy. Student engagement measures have become instruments of quality control, with students expected to take an active role in shaping institutional policy and practice. In this paper, we argue that this ubiquity of demands for student engagement has served to hollow-out and depoliticise student voice practices – drawing upon Cooke and Kothari’s seminal (2001) work in development studies we ask whether student voice has become a new tyranny of participation? In developing this argument, we identify how students are expected to be both strategic, instrumental consumers and active citizens of their university. This results in the paradox of the strategic active student-citizen. ispartof: Teaching In Higher Education vol:28 issue:1 pages:1-16 status: Published online

Can a society suffering contests between rich and poor achieve good governance in the face of endemic corruption? We examine a stylized poor state with weak institutions in which a “culture of evasion” damages state authority. Many evade tax payments, limiting the state’s economic development capability. In the face of extensive corruption, it is challenging for the state to establish and implement policies reflecting good governance: for example, a government that is accountable and transparent, efficient and effective, and follows the rule of law. The rich and poor possess different views on what is the appropriate level of enforcing proper payments of taxes due. The government needs to design an effective tax administration policy that minimizes corruption and is sensitive to the present and future needs of society. To do this, it must understand what drives such widespread corruption.

Research Question: The aim of this paper is to increase understanding in the area of leadership at the governance level of nonprofit sport organizations. Specifically, we aim to explore how intra-board leadership at the national level influences the overall leadership capacity of a federal network. Research Methods: In gathering new empirical evidence, the authors adopted a qualitative case study method focusing on a national sport organization operating within the Australian nonprofit sport industry. 12 interviews were conducted with current and former board members of the organization including the current and former Chief Executive Officers to gain new insights into the practice of leadership within non-profit sport governance. Interviews were analyzed using an interpretive process, and, a thematic structure relating to leadership in the non-profit sport governance context was developed. Results and Findings: Leadership roles of the board, intra-board collective leadership, inter-board collective leadership, and individual and organizational leadership behaviors and actions emerged as the key themes in the research. Implications: These themes combined with existing literature, notably an existing working model of leadership in this domain, are integrated into the paper to shed new light on this emerging area of inquiry. We offer a number of suggestions for future research to further increase understanding and to refine, test, critique, and elaborate upon our findings in this work. Refereed/Peer-reviewed

Objectives: The objective of this systematic review was to determine what impact governance principles and guidelines have had on sport organisations’ governance practices and performance. Methods: Following the PRISMA, PIECES and Warwick protocols, we conducted a search of academic, grey literature and theses in sport and broader social sciences and humanities databases. We excluded studies that only proposed governance principles and did not actually measure their use by sport organisations, as well as those studies which did not consider the governance principles in relation to organisational performance. Results: From the initial 2,155 studies reviewed, 19 met the inclusion criteria. A wide range of governance principles or guidelines have been considered by the relatively small number of studies included in the analysis. We did find a variety of researchers from mainly developed countries examining the issue, often using case studies as a means to explore the topic. Although the link between board structure and organisational performance has been empirically found, the link between other governance principles and organisational performance remains lacking. Conclusions: Despite an increased interest in good governance principles and guidelines in sport, there is a clear need for both the international sport community and researchers to develop an agreed set of governance principles and language relevant for international, national, provincial/state and local level sport governance organisations. The multidimensionality of the concepts of governance and organisational performance, as well as their interrelationship and the potential positive and negative impacts of implementing governance principles render this need all the more critical.