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The article explores the issue of underrepresentation of minorities on corporate boards of directors (BODs) and proposes two pathways for achieving more inclusive decision-making and improving corporate governance. The first pathway suggests granting minorities seats on key board oversight committees, giving them greater effective power in critical decision-making processes. The second pathway focuses on addressing socio-psychological biases and processes through empowerment and transparency, creating conditions for minority members to maintain their unique identities and meet their need for recognition. The authors argue that implementing both pathways simultaneously can lead to improved decision-making processes and foster a more inclusive and diverse board. [Extracted from the article]

The EAO Junior Committee Summer Camp 2023 was held in Lisbon, Portugal, with the goal of promoting communication, leadership, and connections among young clinicians and researchers under 40 years old. The camp featured workshops, group projects, and social activities to empower participants and enhance their public speaking abilities. Attendees from 18 different countries were chosen to participate in the camp, which prioritized creating a safe and respectful environment for networking and establishing connections. The camp also emphasized the value of friendship and encouraged participants to make new friends for future scientific exchanges. The document includes three appendix figures showcasing participants, a group photo before a surf lesson, and a view of Dragão Vermelho beach in Lisbon, Portugal. The document is copyrighted by Quintessence Publishing Co, Inc., and printing is limited to personal use only, with no reproduction or transmission allowed without written permission from the publisher. [Extracted from the article]

Executives trade more profitably and opportunistically over the course of the tenure of independent directors (IDs). IDs' increased connections with and hence allegiance to executives are likely the channel through which ID tenure can affect executive trading. Executive opportunism is mitigated by disciplinary factors that include the presence of a firm's internal trading policy, blockholders, and IDs with legal expertise as well as the risk of shareholder-initiated derivative lawsuits. These results point to an association between long-tenured IDs and weakened corporate governance. [ABSTRACT FROM AUTHOR]

Recent Delaware Chancery Court decisions that boards are self-interested in setting director compensation have focused scrutiny on the pay-setting process used by corporations. We examine the effect of peer benchmarking on director compensation decisions. Director pay relates positively to peer director pay, and firms paying their directors highly are selected as peers. Moreover, firm performance and board advising performance are positively related to the talent component and are generally unrelated to the self-serving component of the peer pay effect. The evidence indicates that firms use peer benchmarking to justify high compensation mainly to attract talented directors to enhance board quality. [ABSTRACT FROM AUTHOR]

Hear from a public library director of a small library in Michigan. The author assumed the role as a first-time library director. This column explores the opportunities and challenges of taking on a directorship of a small public library. An emphasis on customer service and building the library into a community player is a key theme. The library's relationship to the city and other city departments is also discussed. Leading a public library through the COVID pandemic is touched on as well. This column is a glimpse into the operation of municipal government and public libraries. Smaller public libraries are special places in a community and this column helps you understand how they function. [ABSTRACT FROM AUTHOR]

This article is an obituary for Michael T. Turvey, a renowned scientist, teacher, mentor, and friend who passed away in 2023 at the age of 81. The obituary highlights key events in Turvey's personal and professional life, emphasizing his remarkable accomplishments and his exceptional mentorship, friendship, and generosity. Turvey made significant contributions to the fields of cognitive psychology, psychology of language, and the ecological-dynamical approach to perception and action. His work on perception and action, influenced by his background in athletics, led to groundbreaking insights and a new understanding of skilled performance. Turvey's legacy lives on through his research and the impact he had on countless students and colleagues. [Extracted from the article]

In this article, we show that firms can become conservative in innovation when their directors face job insecurity. We find that after the staggered enactment of majority voting legislation that strengthens shareholders' power in director elections, firms produce fewer patents, particularly exploratory patents, and fewer forward citations. This effect is stronger for directors facing higher dismissal costs or threats and for firms with greater needs for board expertise and is mitigated by institutional investors' expertise in innovation. Overall, our results suggest that heightened job insecurity induces director myopia, which leads to a reduction in investment in risky, long-term innovation projects. [ABSTRACT FROM AUTHOR]

This article examines the effect of board governance on investment efficiency. I use the staggered enactment of board reforms in 41 countries as a shock to board structure that exogenously improves the quality of board oversight of managers. I find that investment-Q sensitivity improves by roughly half post-reform. This effect is more pronounced for firms that are more exposed to the reforms or when external governance mechanisms are less likely to discipline managers. These findings suggest that increased board oversight strengthens managers' incentives to make investment decisions that are more in line with their firms' growth opportunities. [ABSTRACT FROM AUTHOR]

This article investigates the link between board members' past professional experiences and the terms and conditions of the debt contracts of their current firms. In particular, we examine whether directors' past bankruptcy experience affects the pricing and nonpricing terms of public debt contracts. Using a sample of 8,142 bond issues in the United States in the period 1995 to 2015, we document higher credit spreads and smaller bond sizes for firms with such directors, suggesting that bondholders are concerned about past bankruptcy experience. Our results remain robust to different model specifications. This effect is moderated for bankruptcies that are likely driven by macroeconomic shocks such as the dotcom bubble and the global financial crisis. We also show that our findings are not explained by bond issuers with an elevated risk of default and seem instead to be driven by directors serving on key monitoring committees, indicating that prior bankruptcy experience raises concerns about the company's corporate governance. Finally, mediation analysis offers some evidence of a limited negative indirect effect of prior bankruptcy experience on the terms of debt contracts through the firm's financial and investment policies. Overall, our findings suggest that lenders incorporate information about past professional experiences of directors into public debt contracting. [ABSTRACT FROM AUTHOR]

This study evaluates the effect of returnee directors on corporate tax avoidance by using data on publicly listed Chinese companies from 2000 to 2012. Returnee directors grow up in China and then study or work abroad before returning home to be listed firms' board directors. We use the introduction of provincial policies toward attracting skilled individuals with foreign experience as an instrumental variable for Returnee directors, which is the fraction of returnee directors divided by the total number of directors within a firm. Using quantile regression, we find a positive relation between Returnee directors and corporate tax avoidance for low levels of tax avoidance but a negative relation for high levels of tax avoidance. The result is robust to a battery of tests. The relation between returnee directors and tax avoidance is stronger for state-owned enterprises (SOEs) than non-SOEs and stronger for returnees who hold MBA degrees, possess a background in accounting or auditing, or are independent directors than other returnees. [ABSTRACT FROM AUTHOR]

This study examines whether individual auditors with experience as independent directors provide better audit performance than those without independent directorship experience. Using the Chinese setting where audit partners' names are publicly disclosed, we find that audit partners with independent director experience provide higher audit quality for clients that operate in the same industries as the companies where they concurrently hold or have previously held directorships. However, directorship experience at companies in different industries has an insignificant effect on audit quality. These findings suggest that independent director service enables audit partners to gain industry-specific knowledge. This leads to knowledge spillovers on the audits of clients in the same industries. This study contributes to the literature by identifying an alternative channel through which auditors gain industry-specific knowledge which enhances their performance. [ABSTRACT FROM AUTHOR]

This article examines whether and how stock mispricing can affect the probability of CEO turnover. In a sample of 1,573 US public firms, I find that, after controlling for fundamental performance, a 1-standard-deviation negative uninformative stock price shock increases the likelihood of CEO turnover by 10%. The mispricing-turnover sensitivity is stronger at firms with an independent board, and a difference-in-difference analysis further supports that finding. Ancillary results suggest that independent directors' career concerns may play a role in the response of independent boards to mispricing. [ABSTRACT FROM AUTHOR]

In the article there is an analysis of the difference of powers of the Board Chair, Chief Executive Officer and Company Secretary under the one-tier corporate governance structure in Ukraine, also the legal nature of the formalization of their duties. The article objective is to establish and articulate the differences of their powers, which is achieved through the study and analysis of legislative acts and relevant scientific researches. It has been determined that the election of the Board Chair and the Chief Executive Officer must take place at the first meeting of the newly elected Board of Directors, while the appointment of the Corporate Secretary occurs upon the appearance of this position. It has been established that the Board Chair and the Chief Executive Officer are elected by the Board of Directors, while the Corporate Secretary is appointed by the Board. The author examines the role of the Board Chair in corporate governance and concludes that the Chair convenes the Board, presides over its meetings, and signs the meeting minutes. It is also noted that, during such meetings, the Board Chair may have the right to a casting vote in the event of a tie among the Board members, as specified in the corporate charter document. The author examines the role of the Chief Executive Officer in corporate governance and concludes that the CEO represents the interests of the corporation, performs legally significant actions on its behalf without the need for a power of attorney, including transactions, and issues orders and directives that are mandatory for all employees of the corporation. It is also noted that the use of the term «ordinary daily activities of the corporation» in paragraph 3 of part two of Article 65 of Law № 2465-IX, the literal interpretation of which could unpredictably limit the powers of the Chief Executive Officer, does not meet the «quality of law» criterion. The article suggests to harmonize the terminology used in Laws № 2465-IX and № 2275-VIII. The author examines the role of the Corporate Secretary in corporate governance and concludes that the Corporate Secretary facilitates the coordination of the Board of Directors and its committees, and the exchange of information between the Board, shareholders, and other stakeholders of the corporation. It is also noted that the Corporate Secretary cannot be a member of the Board of Directors. The article specifies that the Board Chair, the Chief Executive Officer, and the Corporate Secretary are all officials. [ABSTRACT FROM AUTHOR]

This study investigates the influence of old directors on corporate social responsibility (CSR) using roughly 25,000 firm-year observations from 2001 to 2015 in the United States. We employ the widely used selection, optimization, and compensation (SOC) model from psychology to explain the CSR decisions of old directors. Our results indicate that firms with a higher percentage of old directors tend to have lower engagement in CSR activities. To address endogeneity, we adopt the difference-in-differences method and use the event of sudden deaths and unexpected retirements of old directors and find that our results remain robust. Our analysis also reveals that the negative impact of old directors on CSR is more significant in firms where directors receive fewer reputational spillover benefits from CSR initiatives and/or firms exhibiting poor corporate governance. In addition, this adverse impact of old directors comes from two effects: a reduction in efforts to enhance CSR strengths and an increase in inaction to address CSR concerns. Overall, these findings suggest that the CSR decision-making process of old directors involves assessing the costs and benefits of CSR engagements, consistent with our hypothesis derived from the SOC model. [ABSTRACT FROM AUTHOR]

The article compares two different methods of defining pollen seasons based on 10 years of birch and grass pollen data from Berlin, Germany, and Vienna, Austria. The study found that the European Academy of Allergy and Clinical Immunology (EAACI) definition correlated significantly with allergic rhinitis symptoms reported by users of electronic diaries. The analysis showed differences in the start, end, and duration of pollen seasons between the two cities, highlighting the importance of accurately defining pollen seasons for clinical trials and allergen immunotherapy. The study confirmed the applicability of both the EAACI and percentage analysis (PA) methods in describing pollen season characteristics for different regions. [Extracted from the article]

The article discusses the vital role of creativity in engineering design, emphasizing that generating innovative solutions is essential for addressing complex problems and creating tangible products. Topics include the relationship between creativity and engineering design; and the importance of creativity in educational settings for fostering skills such as critical thinking and imaginations.

The "disinterested and independent majority" is one of the most important concepts in corporate law. Corporate actions are almost immune to legal challenge if a suitable majority of directors stands ready to approve it. Scholars have extensively debated the proper meaning and effect of "disinterested and independent," but no such literature analyzes "majority." As a matter of arithmetic, how do we compute whether a given set of directors contains a suitable majority? While seemingly innocuous, the concept of a majority means different things to different courts. Indeed, there may be no majority rule for majority independence. The Article charts and analyzes a puzzle somehow undiscovered, though at the heart of a field. In so doing, it asks questions important to debates far afield of corporate law. Majority rules matter for flawed democracies everywhere. [ABSTRACT FROM AUTHOR]

This paper aims to identify the main issues and drivers of sustainable corporate governance to prevent corruption and increase companies' profitability by drafting corporate organizational models, highlighting exploratory evidence from the corporate sample. This document is based on two phases. First, the analysis aims to understand any link between adopting an organization, management, and control model according to Legislative Decree 8 June 2001, no.—231 and company performance. The survey concerned a sample of companies operating in the construction sector. We have therefore tried to demonstrate whether the companies in possession of the so‐called "231 model" present higher profitability than the same companies in the industry, which, on the contrary, have decided not to adopt this model. Second, the content analysis research method is applied to the corporate organizational models that have adhered to drafting the documents on the sample of companies. It was investigated whether companies operating in the construction sector, which adopt an organizational model, have higher performances than companies which do not adopt an organizational model in line with the Italian Legislative Decree 231 and whether there is a correlation between the adoption of a "complete" organizational model in line with Italian Legislative Decree 231 and company performance. This paper proposes the analysis of the sustainable compliance models of Italian companies to prevent corruption and profitability in their corporate governance and the path for future research on the topic. [ABSTRACT FROM AUTHOR]

The article discusses the history of The Welsby Library of The Royal Historical Society of Queensland up to 1999. Named after Thomas Welsby, the library was bequeathed to the Society in 1941 and has since been a valuable resource for research on Australiana. The Society's focus on local history and the promotion of historical societies in regional Queensland has been a key aspect of its vision, with a strong emphasis on collecting stories and experiences of early European settlers in the region. [Extracted from the article]

Using a sample of Chinese listed A-share firms from 2006 to 2017, we find that firms with more rookie independent directors have less corporate innovation. The result is more pronounced in private firms and firms located in lower intellectual property right protection provinces. We argue that firms with more rookie independent directors have lower corporate governance and tend to hold more cash, thus reducing corporate innovation activities. Our results have important implications from the practice, academic, and public policy perspectives. [ABSTRACT FROM AUTHOR]

Background: This observational study investigates the role of value-based healthcare (VBHC) principles in executive decision-making in Dutch hospitals. Methods: A total of 379 questionnaires were sent to executives in 69 Dutch hospitals. The survey included questions prioritizing VBHC and other elements in decision-making and the weight and frequency at which each VBHC element was considered. Results: Responses were received from 82.6% of hospitals (57/69) and 26.9% of executives (102/379). 'Clinical outcomes' and 'costs' were most often considered in decision-making whereas 'integration of care delivery across separate facilities' and 'bundled payments' were considered the least. VBHC was reported as being considered in decision-making 8 out of 10 times and was given a median score of 8 out of 10. Members of the board of directors placed a higher priority on 'clinical outcomes', 'internal politics', 'the ambition of healthcare professionals' and 'integrating care delivery across separate facilities' and perceived that they include these elements more frequently than other direct colleagues. Conclusion: This study reveals that, although VBHC is generally considered in managerial decision-making, 'clinical outcomes' and 'costs' predominantly have priority. Action must be taken to ensure executives implement all VBHC elements in decision-making to maximize the effects of VBHC. [ABSTRACT FROM AUTHOR]

Copyright of Quintessenz der Zahntechnik is the property of Quintessenz Verlags GmbH and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

A noteworthy trend within the surge in corporate climate litigation is the increasing focus on personal responsibility of corporate directors. In 2023, ClientEarth commenced a derivative claim against Shell and its directors in the English courts, arguing that those directors were in breach of their directors' duties under the Companies Act 2006. This article analyses the claimant's arguments, examines the basis upon which the court dismissed the claim and identifies the procedural challenges that are likely to be faced by future claimants in commencing similar claims. In light of the rising trend in shareholder activism, coupled with the ever-increasing regulatory requirements to strengthen corporate human rights and environmental performance, the article anticipates further attempts to bring derivative claims against directors for failing to take action to address climate change risks. It provides suggestions for the sorts of arguments that may have greater prospects of succeeding before the English courts. [ABSTRACT FROM AUTHOR]

"The Law of Loyalty" by Lionel Smith is a comprehensive and ambitious work that delves into the justificatory principles behind the regulation of relationships of administration, where one acts on behalf of another. Smith's book challenges conventional accounts of fiduciary law by exploring the commonalities between private and public law administration. The text also redefines fiduciary duties, arguing that they are not traditional legal obligations but rather prerequisites for the effective exercise of legal powers. Smith's innovative approach makes "The Law of Loyalty" a valuable resource for those seeking a deeper understanding of fiduciary relationships and legal principles. [Extracted from the article]

We examine how social diversity and inclusiveness on corporate boards affect corporate performance and monitoring in Sri Lanka, a country subject to decades of polarization, civil war, and even genocide. Barely more than a decade after the civil war, we find that board social diversity on the basis of ethnicity, religion, language, gender, and nationality of the board members is positively related to corporate performance, both in terms of stock market performance and accounting returns, and to corporate financial stability. The main positive effects of social diversity derive from ethno-linguistic inclusiveness. The results are confirmed by an instrumental variable approach that addresses endogeneity issues. We find no evidence that inter-personal and moral conflicts or communication problems among board members negatively affect firm performance. [ABSTRACT FROM AUTHOR]

This letter to the editor discusses the prevalence and characteristics of TP53 Y220C mutations in patients with myeloid malignancies. The study found that these mutations were detected in 4.8% of patients with TP53 mutated myeloid neoplasms, most of whom had myelodysplastic syndromes or acute myeloid leukemia. The study also identified other co-occurring mutations. The authors suggest that targeted therapies may hold promise in improving outcomes for patients with this mutation, but further research is needed to address other TP53 mutations. [Extracted from the article]

Independent directors are an important internal governance mechanism, and the characteristics of independent directors influence the strategic decisions of the company. With the emergence of research on the impact of geographical location on economic entities, geographical distance is gradually gaining attention in corporate governance. However, relatively few studies in emerging markets have analysed the effectiveness of independent directors' performances in terms of geographical location factors. We determine the location of independent directors by manually searching their biographies, annual reports, and news reports, calculate the geographical distance between the location of independent directors and listed companies, analyse the relationship between the geographical distance of independent directors and firm innovation, and test the moderating effect of high-speed rail (HSR) construction. The test results show that the geographical distance between independent directors and the companies they work for can inhibit corporate innovation and that the construction of HSR in the cities where listed companies are located can mitigate this inhibiting effect. We extend the study of geographical location characteristics influencing economic behaviour to the field of independent directors, enriching the study of factors influencing corporate innovation in emerging markets. [ABSTRACT FROM AUTHOR]

Copyright of Revista Foco (Interdisciplinary Studies Journal) is the property of Revista Foco and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The essence of a family business captures the distinguishing factors differentiating them from non-family businesses. Among these factors, the constructs of family firms' managing and governance elements are perceived differently by non-family firms. This is especially important in a developing country such as South Africa (SA) with many governance challenges. The objectives of this study were, first, to identify relationships among financial performance, corporate governance, and ownership concentrations of listed family and non-family businesses in SA. Next, a comparison was made between the different ownership structures. Secondary data were collected using purposive sampling from 2015 to 2019. These data were analysed using panel data analysis and descriptive statistics. The results show that family firms place a greater emphasis on ownership concentration, board size, and board gender diversity, which have a significant relationship with financial performance. Only board size was significant to financial performance for non-family firms. The results indicate that family businesses should appoint female family members as directors on their boards, given the significance of gender-diverse boards for financial performance. Non-family businesses should also consider having smaller boards. Theoretically, this study expands on the literature regarding family businesses in SA. However, the findings cannot be generalised due to a single industry being selected. This study should be replicated in different industries to compare the results. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to examine how a firm's exposure to economic policy uncertainty affects the auditors' perceptions of financial reporting risk. Firms that are more sensitive to policy uncertainty are predicted to engage in more earnings management because these firms are more likely to experience greater uncertainty in future operations. Audit fees will reflect this reporting risk. On the other hand, auditors might feel more fee pressure from policy-sensitive firms because firms are more inclined to reduce spending in the face of uncertainty and subsequently charge lower fees. Design/methodology/approach: The author tests my hypothesis using U.S. data on audit fees and client characteristics of public companies between the years 2001 and 2021. The author estimates a standard audit fee model based on the audit fee literature (Hay et al., 2006) while also including the two policy sensitivity measures. This study uses panel data methods that allow time-series analyses, providing a powerful setting to test dynamic audit fee adjustment to improve the understanding of the audit market. Findings: The results suggest that audit fee is higher for policy-sensitive firms than for policy-neutral firms. These results are robust to various proxies of policy sensitivity and various specifications designed to mitigate the endogeneity concerns. The study provides assurance that on average, auditor pricing reflects client risk adequately, mitigating the concern that auditors give in to fee pressure and compromise audit quality as a result. Research limitations/implications: While the findings from this study should be of value to regulators and academics seeking to understand audit activities amid escalating macroeconomic uncertainty, when interpreting these results, several limitations must be considered. The study does not examine how external auditors evaluate risks tied to policy uncertainty. A comprehensive understanding of how and why external auditors respond to heightened policy uncertainty faced by firms could be better achieved through interviews with external auditors and audit committee members. In addition, while this study posits that auditors adjust their approach in response to changes in policy uncertainty, largely due to potential shifts in the risks of material misstatement, there might be additional factors at play that warrant higher audit fees post a change in policy uncertainty. For instance, specific policy changes may give rise to new risks or modify existing ones, thereby precipitating increased scrutiny of records and procedures as company directors' demand. These aspects offer potential avenues for future research. Practical implications: This study underscores the significant role of policy sensitivity in determining audit fees and audit quality. Policy-sensitive firms present unique complexities and potential risks that require additional effort and vigilance from auditors. Auditors must develop a specialized understanding of sectors prone to policy fluctuations to navigate these unique challenges effectively. In addition, the role of professional standards boards and regulators in establishing guidelines for auditing policy-sensitive firms cannot be understated. Such guidelines could lead to more consistent audit practices and improved audit quality. Finally, by recognizing and effectively responding to the policy sensitivity of client firms, audit firms can mitigate their own risks, strengthen public trust and enhance the reliability of financial reports. Originality/value: First, this study adds to an emerging stream of auditing literature that focuses on how audit fees interact with a firm's external environment by providing evidence of an unexplored implication, a firm-specific policy sensitivity. Second, my main construct, policy sensitivity, provides two distinct advantages over other variables used in prior studies that explore the relationship between audit fees and external firm environments. Third, this study answers the calls for research by De Villiers et al. (2013, p. 3), who identified the cost behavior of audit fees, especially over time, as an area not well understood. [ABSTRACT FROM AUTHOR]

Purpose: This research explores how contextual elements and significant events influence the changing storylines within a company's directors' reports spanning a period of six decades. These elements and events encompass the internal dynamics of the family that owns the company, industry-specific advancements, political and socioeconomic climates, and explicit guidelines related to corporate reporting. Design/methodology/approach: This research employs a case study methodology to analyse the directors' reports of Barilla, a prominent Italian food manufacturer, within the theoretical framework of historical institutionalism. A systematic content analysis is conducted on sixty directors' reports published between 1961 and 2021. The study also identifies and examines significant contextual events within this six-decade period, which are linked to four key institutional factors. Findings: Based on the research findings, the directors' reports exhibited notable fluctuations throughout the studied timeframe in reaction to shifts in the institutional setting. Our investigation highlights that each institutional element experienced crucial pivotal moments, and given their interconnected nature, modifications in one factor impacted the others. It was noted that these pivotal moments resulted in alterations in the directors' reports' content across various thematic areas. Additionally, despite Barilla being a multinational company, it was found that national events within Italy had a more pronounced influence on the evolving narratives than global events. Originality/value: Previous research on directors' reports or chairman's statements has primarily focused on the influence of macro-level institutional factors on the narratives. In contrast, our study considers both macro-level and micro-level institutions, specifically examining the internal events within a family business and how they shape the content of directors' reports. Our study is also distinctive in its analysis of specific critical junctures and their interactions with the investigated institutional factors. Additionally, to the best of our knowledge, few existing studies span a timeframe of sixty years, particularly concerning an Italian company. [ABSTRACT FROM AUTHOR]

Purpose: This study aims to investigate the extent and trend of corporate social responsibility (CSR) disclosure by UAE listed banks and the impact of corporate governance mechanisms on this disclosure. Design/methodology/approach: Content analysis of banks' annual reports from 2009 to 2019 was applied to investigate the CSR disclosure level by constructing a disclosure index. Panel data regressions were applied to analyze the impact of corporate governance mechanisms on CSR disclosure. Findings: UAE banks show an improving trend in the CSR disclosures. In addition, the board of directors and ownership structure are significantly and positively associated with the CSR disclosures. The results vary across the banking systems. Research limitations/implications: This study considers the extent of the CSR disclosure in UAE banks' annual reports, and future research should consider more industries and communication channels. Practical implications: This study sheds light on the extent of the CSR disclosure of UAE listed banks and assists UAE policymakers in implementing appropriate corporate governance mechanisms. Social implications: The findings provide banks with a better understanding of the benefits of strengthening corporate governance to improve their CSR disclosure. Originality/value: This study contributes to the literature by constructing a more comprehensive disclosure index and examining the impact of corporate governance mechanisms on CSR disclosure by considering both the conventional and Islamic banking systems. [ABSTRACT FROM AUTHOR]

Purpose: This study aims to investigate the relationship between political connections, financing decisions and cash holding. Design/methodology/approach: Based on historical data from 181 active non-financial firms listed on Gulf Cooperation Council (GCC) Stock Exchange Markets during the period of 2009–2016, this study uses ordinary least squares and dynamic system-generalized method of moments to test the research hypotheses. The final data set comprises a total of 1,448 firm-year observations from ten major non-financial industry classifications. Findings: This study finds a positive relationship between political connections and each of internal financing proxied by retained earnings ratio and external financing proxied by short- and long-term debt to total asset. The findings also show a positive relationship between political connections and cash holding. Practical implications: The findings of the study provide a better understanding of the role of politically connected directors in financing decisions and cash holding in the GCC. Investors can consider the presence of royal family members in the board of directors when making investment decision. Policymakers are encouraged to develop more effective policies that encourage listed firms to provide information on the political positions of the board of directors, managers and major shareholders/owners of companies. Originality/value: This study contributes to the literature by providing empirical evidence on the relationship between political connections and financing decisions by focusing on the GCC region. This study also highlights that boards in connected firms in the GCC have lower monitoring role owing to political interventions, and that connected firms face higher agency problems as they have weak governance and boards compared with non-connected firms. [ABSTRACT FROM AUTHOR]

Purpose: This study aims to investigate the association between the co-option of the chief financial officer (CFO) and dividend payments, assessing whether the talent of the CFO affects this association. Design/methodology/approach: The empirical analyses were based on hand-collected data for 922 firm-year observations from 157 European listed firms, during the period 2013–2019. Empirical models, based on a two-step estimation procedure, involved the use of instrumental variables and the generalised moment method. Findings: The results show that CFO co-option is negatively associated with the level of dividend payments. It was also found that the degree of CFO talent moderates the negative association between CFO co-option and dividend payments. Research limitations/implications: This investigation responds to the call for literature which examines how chief executive officer (CEO) – CFO relationships influence firms' policies and outcomes. The study offers novel evidence for the individual-level characteristics of CFOs which are likely to reduce the effectiveness of CEO power and increase monitoring on corporate decisions on dividends. Practical implications: The study sheds light on the effect of the interactions between CEOs and CFOs, which are important for investors' expectations. In this regard, investors may be interested in the CFO profiles which may reduce CEO power over dividend policies. Originality/value: Unlike previous research, which focused on CEOs, the authors are the first to shed light on the role of CFOs as key decision makers in influencing the dividend policies in modern corporations. [ABSTRACT FROM AUTHOR]

This study investigates the influence of corporate governance on firms' transition into and out of zombiness. We underscore the beneficial role of external members in the corporate governance structure and long‐tenured chief executive officers (CEOs) in facilitating access to the external resources that firms need to be successful. Using a sample of European listed firms over the period 2008–2018, we adopt a dynamic view of zombiness by identifying shifts in the state from zombie to non‐zombie and vice versa. The results show that board independence is a twofold panacea against zombies, prompting zombie recovery and preventing healthy firms from becoming zombies. By contrast, leadership independence, materialized by separating the CEO and chairperson roles, hampers the recovery of zombies, probably because the cost of lacking unified leadership may exceed the benefits of external dependence minimization. Finally, the results suggest that longer CEO tenure helps healthy firms avoid zombiness. When considering a broader array of stakeholders, government bailout programmes impair zombie recovery, and stronger trade unions help healthy firms escape zombiness. Overall, this study brings a ray of hope to the zombie problem and provides a better appraisal of when supporting zombies might be worthwhile vis‐à‐vis saving promising firms and bringing them back to life. [ABSTRACT FROM AUTHOR]

Copyright of Retos, Revista de Ciencias Administrativas y Económicas is the property of Universidad Politecnica Salesiana and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The spotlight has recently been shone on the statutory duties of directors of companies in financial distress in Australia and New Zealand. In Australia, the 2023 Report on Corporate Insolvency noted concerns about the efficacy of the Australian insolvent trading regime and mooted the possibility of Australia adopting the United Kingdom ‘wrongful trading’ standard. In August 2023 the New Zealand Supreme Court delivered a much-anticipated judgment in Yan v Mainzeal Property and Construction Limited (in liq) focusing on the equivalent reckless trading duties, prompting the question of whether the New Zealand approach may offer useful insights for Australia and the United Kingdom. This paper provides a comparative analysis of the ‘insolvent trading’ provision in Australia, the ‘wrongful trading’ provision in the United Kingdom, and the ‘reckless trading’ provisions in New Zealand, considering these provisions against the backdrop of related statutory provisions and broader policy considerations and objectives. [ABSTRACT FROM AUTHOR]

In the aftermath of banking failures in Africa, the survival of firms has thus been placed with the application of good corporate governance practice and the oversight role of internal and external auditors. This study examines whether audit quality is related to corporate board of directors and financial reporting timeliness in the context of developing countries. Using sample data from 21 universal banks in Ghana and 31 commercial banks in Kenya for the periods 2010 to 2019. The study employs the Generalized Least Square(GLS), using fixed effect to estimate the relationships. The empirical results document that board size, average 9, and board independence, 59% on average, increase audit quality in Africa. However, the relationship between board gender and audit quality is not significant. Financial report lag is not significant to audit quality in Africa. However, financial report lag in Kenya is negative and significant to quality audit. Our findings recommend that commercial banks in Africa should implement policies that would increase the size of their boards and the number of independent directors to enhance maximum benefits from good corporate governance practices. [ABSTRACT FROM AUTHOR]

The impact of corporate governance mechanisms has been examined directly and independently, considering that such characteristics compete to explain environmental, social, and governance (ESG) performance. However, the nexus may be more complex than that suggested by most scholars, and more research is needed. This study applied a fuzzy-set qualitative comparative analysis to a sample of Spanish-listed companies in 2018–2020 to explore how good governance practices interact with CEO profiles to promote corporate sustainability practices. Our analysis discovered the importance of establishing sustainability committees and identified five pathways shaping governance practice bundles. Specifically, listed companies with a high code of good governance (GGC) compliance and a sustainability committee improve high ESG performance globally and for each ESG dimension. Furthermore, the effect is more relevant than the effect of the CEO profile, requiring either CEO duality (pathway 1) or extended CEO tenure (pathway 2). Concurrently, findings indicate three CEO profile configurations for GGC-neutral firms, providing companies with more flexibility in CEO selection. Two suggest that younger CEOs with longer tenure tend to be more motivated to engage in the G and S pillars (pathways 3 and 5). The third indicates that CEOs of older age and early tenure improve the E pillar (pathway 4). [ABSTRACT FROM AUTHOR]

Recent developments in artificial intelligence (AI) have made AI applications in corporate governance an area of increasing interest to researchers and practitioners. Augmented intelligence, also known as advisory intelligence, is a form of collaboration between humans and AI, where the goal is to enhance human capabilities. It represents the second stage of AI development in corporate governance. In the realm of boards of directors, augmented intelligence offers a unique opportunity to enable machines to effectively collaborate with board members. This collaboration allows boards to harness the expertise of AI without supplanting the essential human element. In contrast, there exist more autonomous AI systems designed to operate independently, which could potentially lead to the replacement of humans on the board. This study seeks to assess the suitability of augmented intelligence for corporate boards, particularly in comparison to these more autonomous AI systems. Furthermore, it addresses the application of augmented intelligence in boardroom decision-making, its role in improving directors' decision-making abilities, and the associated risks and challenges. [ABSTRACT FROM AUTHOR]

Many common law jurisdictions recognise that directors have an obligation to consider the interests of company creditors when the company is experiencing financial distress. Despite numerous cases attempting to crystalise legal principles related to this obligation and significant academic commentary on the topic, the parameters of the obligation remain uncertain. This paper provides an analytical comparison of the latest case law in Australia and the UK concerning the two most important issues that exist in relation to this obligation, namely when is the obligation triggered and what do directors have to do to ensure that they comply with the obligation. We found that the UK courts appear to be adopting a much more restrictive approach regarding the trigger for the obligation, whereas the obligation may arise much earlier in Australia, due to the liberal framing of the trigger. An analysis of case law also revealed that the weight attached to the interests of creditors once the obligation is triggered seems to be much more significant in the UK, compared to Australia. This analysis is important as there is no doubt that courts in other common law jurisdictions, and particularly in the Commonwealth, will examine the Australian and UK jurisprudence in making their decisions in relation to any claim that directors have failed to comply with the obligation to consider the interests of creditors. [ABSTRACT FROM AUTHOR]

The article discusses the issue of polypharmacy and its negative health outcomes, particularly among older adults in Canada. It introduces the Canadian Medication Appropriateness and Deprescribing Network (CADeN) and describes the goals and outcomes of the CADeN 2023 National Meeting, which focused on strengthening relationships, sharing resources, and informing policy. The meeting emphasized equity, diversity, and inclusion, as well as the importance of indigenous perspectives in healthcare. Initiatives and research on medication appropriateness and deprescribing were discussed, along with strategies to reduce medication overload. The meeting highlighted the need for health policy reforms, equitable access to medications, patient engagement, and collaboration within the healthcare system. The CADeN network plans to continue its efforts to promote medication appropriateness in Canada. [Extracted from the article]

The study's primary objective is to ascertain whether board of directors with multiple directorships affect Modified Audit Opinions (MAOs) and whether audit opinions with the typical number of multiple directorships in the context of Jordanian firms are statistically significant. To assess the proposed hypotheses, a cross-sectional logistic regression model was used in the study. Using the model, the associations between the independent variables and the MAO were investigated. The paper supports partial evidence of the busyness hypotheses, in that with the increase in the multiple directorships, the unmodified opinion will increase. Such evidence indicates that multiple directorships negatively and significantly affect MAO among Jordanian firms. This study has a number of possible limitations, making it similar to many empirical studies in that regard. Therefore, the following inherent limitations should be taken into consideration when applying the study's findings: The study excluded financial companies from the sample since these companies operate under specific regulations and their financial reports are unique and complicated. Therefore, it is impossible to generalize the findings of this study to these companies. Future studies might think about spanning a longer time frame. This study offers policymakers in the developing market implications for creating rules for multiple board member appointments, particularly when engaging theboard of directors. Despite widespread perceptions that a busy director's workload has negative impacts, this study provides evidence to the contrary. [ABSTRACT FROM AUTHOR]

We study off-the-clock indiscretion accusations against corporate officers and directors and examine the extent, effectiveness, and context of auditors' response. In the year that indiscretion allegations are first publicized, auditors charge higher fees and are more likely to resign. Auditors respond to allegations against both top executives and board members. Further, reactions are strongest when allegations demonstrate a lack of individual integrity and, separately, when the audit office has previously audited other similarly accused clients. Importantly, the resulting increase in auditors' effort partially negates the association between indiscretions and lower financial reporting quality. However, auditors are primarily reactive, rather than proactive, and their response is stronger when the accused client is less important economically. These results suggest that company leadership's off-the-clock indiscretions are signals to auditors of poor tone at the top, but the audit response is not uniform across all clients. [ABSTRACT FROM AUTHOR]

The article titled "How project sponsors can help project managers" by Yogi Schulz discusses the ways in which project sponsors can assist project managers. The author emphasizes that project managers should view their project sponsors as valuable resources who can help them navigate challenges and achieve project success. The article highlights several key roles that project sponsors play, including communicating project benefits, providing guidance and insights, encouraging the team, ensuring resource commitments are fulfilled, resolving issues, and shielding the team from internal politics. The author also mentions a book, "A Project Sponsor's Warp-Speed Guide - Improving Project Performance," which offers additional tips for effective project sponsorship. [Extracted from the article]

Purpose: This study aims to investigate the effect of political turmoil on the firm financial performance, particularly in presence of politically affiliated board of directors. Design/methodology/approach: The study applied panel regression analyses on a data set of Pakistan's listed companies ranged over 14 years, spanning from 2007 to 2021. Political turmoil was first gauged through three determinants, i.e. political protest, government election and constitutional reform, and thereafter, economic uncertainty index was used as a proxy for political turmoil. For the purpose of political connection, the study used political affiliation of the board of directors. Findings: The study finds that political turmoil has deleterious effect on the return on assets and Tobin's Q. The study further unveils that politically affiliated firms are relatively insulated from the volatility posed by the political uncertainty and exhibit significantly better financial outcomes. Practical implications: Findings of the study suggest that appropriate composition of the board is imperative in offsetting the risk posed by the political turmoil. Hence, the results are useful for investors, policymakers and regulators to ensure financial soundness of firms in the wake of political turmoil. Originality/value: To the best of the authors' knowledge, this is the first study that investigates the moderating impact of political connection on the performance of companies in presence of political turmoil. [ABSTRACT FROM AUTHOR]