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The article is devoted to the formation of scientifically based recommendations on the application of administrative and legal forms and methods of countering violations of public interests in the activities of institutional investors. The author separates the concepts of preventing violations and countering violations of public interests in the activities of institutional investors, indicating that the prevention of violations of public interests takes place when certain shortcomings or problems are identified in their work, which potentially carry a risk of violating the rights of citizen investors, but at a specific moment do not yet pose a threat of violation or are not a violation of public interests. In contrast to prevention, counteraction conditionally assumes the existence of a certain illegal action, as a result of which a situation arises when the interests of citizen-depositors and the institutional investor (his officials) do not coincide, and the private business or selfish interest of individuals begins to dominate over the public interest. According to the author, the system of countermeasures includes such forms of management activity as: issuance of normative legal acts, execution of legally significant actions, which are implemented through such methods as administrative supervision, administrative control, bringing to legal responsibility. Special laws define a number of measures that can be applied to institutional investors for violations, in particular, the suspension or cancellation of a license, the prohibition of the payment of dividends, an injunction and much more, which allows for the timely protection of public interests and the prevention of encroachment on public values, because criminal activity undermines the existing legal order of investment activities of institutional investors and in general the trust of citizen-investors in the state, in its ability to protect their values, entrusted to entities authorized by the state to preserve and multiply them. [ABSTRACT FROM AUTHOR]

Research Question/Issue: We examine the effect of multiple environmental, social, and governance (ESG) scores on institutional investor ownership of firms and investor portfolio weightings. We are also the first to analyze the three individual components of ESG rankings to estimate the relative preferences of institutional investors. Research Findings/Insights: Using a unique panel dataset covering US companies and institutional investor portfolios over the 2010–2019 period, we find that while investors are driven to add high‐quality ESG companies to their portfolios, there is a negative relationship with ESG when it comes to taking large ownership stakes. Furthermore, ESG scores are negatively related to the portfolio weightings of institutional investors, which raises concerns of greenwashing. Our analysis of individual ESG scores points to significantly larger effects of G scores in terms of holdings, and G is the only score with no negative impact on portfolio weightings. Finally, in support of systematic stewardship theory, top institutional investors allocate higher proportions of their portfolios to firms with high‐ESG ratings. Our results are robust to the use of a difference‐in‐differences analysis addressing endogeneity concerns. Theoretical/Academic Implications: The findings in this paper offer important policy implications for institutional investors, managers, and policymakers. Given the ongoing debate on ESG scores, this paper shows the importance of examining greenwashing for investors who have a concern regarding the extent to which the valuation of assets might be influenced by unsupported sustainability claims. In addition, our study adds to the debate regarding ESG investing and stewardship theory. [ABSTRACT FROM AUTHOR]

Purpose: The objective of this paper is to investigate the impact of institutional quality, foreign direct investment (FDI) inflows and human capital development on Indonesia's poverty rate. Design/methodology/approach: The quantile regression on data ranging from 1984 to 2019 was used to capture the relationship between the impact of the independent variables (FDI inflows, institutional quality and human capital development) on Indonesia's poverty rate at different quantiles of the conditional distribution. Findings: The empirical results reveal that low-quantile institutional quality is detrimental to poverty eradication, whereas FDI inflows and human capital development are significant at higher quantiles of distribution. This implies that higher-value FDI and advanced human capital development are critical to lifting Indonesians out of poverty. Practical implications: Policymakers should prioritise strategies that advance human capital development, create an enticing investment climate that attracts high-value investments and improve institutional quality levels. Originality/value: This study contributes to the existing literature because, compared to previous studies that focussed on estimating the conditional mean of the explanatory variable on the poverty rate. It rather provides a more comprehensive understanding of the quantiles of interest of FDI inflows and institutional quality on the Indonesian poverty rate, allowing for more targeted policies. Peer review: The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-09-2023-0733 [ABSTRACT FROM AUTHOR]

This study investigates the impact of financial development (FD) and green investments (GIs) on environmental pollution in Eastern and Southern African countries from 1990 to 2020. The research not only investigates the direct impacts of FD and green finance on environmental pollution but also examines the moderating role of institutional quality (IQ) and possible nonlinear effects of FD and green finance. Our analysis from the Panel autoregressive distributed lag (ARDL) long‐run PMG reveals a negative association between FD, green investment, and environmental pollution, indicating that a well‐developed financial sector supports sustainable initiatives, leading to improved environmental outcomes. IQ moderates this relationship, with strong governance enhancing the positive effects of FD and green finance on environmental preservation. Interestingly, the study identifies nonlinear impacts, suggesting that beyond a certain threshold, the contributions of FD and GIs to environmental preservation may diminish. Recognizing these nonlinearities and the role of IQ can inform more targeted policies for maximizing efforts toward environmental conservation in African economies. [ABSTRACT FROM AUTHOR]

Understanding institutional investors' investment criteria in emerging markets is essential because they typically make large investments without control rights or protection of the rule of law. This study undertakes an investment criteria investigation of institutional investors in Turkiye. The sample covers real and financial sector companies to investigate sectoral differences in Borsa Istanbul‐listed firms for 2010–2021. Using a panel data approach, we show that the presence of growth options, generous payout policy, attractive firm valuation, and quality of the external governance mechanisms are important factors in attracting institutional investors by real sector firms. Only a large firm size and the quality of the external governance mechanisms arise as important factors for financial sector firms. Moreover, institutional holdings positively impact the percentage shares of institutional investors during crisis periods among real sector firms, whereas they do not affect financial sector firms. Real‐sector and financial‐sector firms can use our findings to increase institutional ownership. Our results have important implications for institutional investors, individual investors, and market regulators to demand critical corporate governance practices. [ABSTRACT FROM AUTHOR]

Background: Near-peer teaching is a popular pedagogical teaching tool however many existing models fail to demonstrate benefits in summative OSCE performance. The 3-step deconstructed (3-D)skills near-peer model was recently piloted in undergraduate medicine showing short term improvement in formative OSCE performance utilising social constructivist educational principles. This study aims to assess if 3-D skills model teaching affects summative OSCE grades. Methods: Seventy-nine third year medical students attended a formative OSCE event at the University of Glasgow receiving an additional 3-minutes per station of either 3-D skills teaching or time-equivalent unguided practice. Students' summative OSCE results were compared against the year cohort to establish whether there was any difference in time delayed summative OSCE performance. Results: 3-D skills and unguided practice cohorts had comparable demographical data and baseline formative OSCE performance. Both the 3-D skill cohort and unguided practice cohort achieved significantly higher median station pass rates at summative OSCEs than the rest of the year. This correlated to one additional station pass in the 3-D skills cohort, which would increase median grade banding from B to A. The improvement in the unguided practice cohort did not achieve educational significance. Conclusion: Incorporating the 3-D skills model into a formative OSCE is associated with significantly improved performance at summative OSCEs. This expands on the conflicting literature for formative OSCE sessions which have shown mixed translation to summative performance and suggests merit in institutional investment to improve clinical examination skills. [ABSTRACT FROM AUTHOR]

Purpose: Following the pandemic of Covid-19, many sports tourism destinations rendered stagnant. The ambiguity of the disease and its unanticipated outbreak came as a surprise to policymakers in tourism centers. Many uncertainties about the dimensions and how this disease affects tourism destinations, arise the need to scrutinize it prospectively. Therefore, present study attempts to focus on the "sustainability" component of tourism destinations along with the situation of sports tourism in Isfahan province in the next 10 years (2031). Methods: By adopting a quantitative-qualitative approach and using the futuristic method, data was collected from a number of sources including experts' interviews, questioning citizens of Isfahan province and documentary studies. Data analysis was performed by open and axial coding, cross-impact analysis and scenario planning. Results: In total, 40 drivers for the future of sports tourism in Isfahan province were identified. Based on four critical uncertainties with two assumptions for each, a total of 16 plausible scenarios were obtained and it was found that the second, seventh and fourteenth scenarios are more likely to occur. In these scenarios, a gradual increase in social responsibility is expected along with the development of technology. However, economic investment and institutional policymaking are at their worst, and so we will see the current trend in pandemic control maintains. This issue threatens the sustainability of sports tourism destinations in Isfahan province. Conclusion: The most significant presupposition for achieving sustainability in sports tourism destinations is a review of crisis management policy at national and state levels. [ABSTRACT FROM AUTHOR]

Purpose: The paper aims to provide companies with a better understanding of the needs of institutional investors to improve the disclosure of sustainability information by companies. The study investigates the changed information needs of institutional investors resulting from the Sustainable Finance Disclosure Regulation (SFDR). Design/methodology/approach: This study uses an internet-based survey instrument amongst institutional investors to gain insights into their needs regarding sustainability information. The authors received 155 responses in total and use descriptive statistics and t-tests to analyse the survey data. Findings: The results demonstrate that the implementation of the SFDR challenges institutional investors, as it affects their decision process. Additionally, the findings still indicate a lack of available corporate sustainability information, making it even more challenging for institutional investors to make appropriate investment decisions. Respondents suggest that information on climate-related risks is more important than the European Union (EU) Taxonomy metrics for meeting the SFDR requirements. Research limitations/implications: The findings are mainly restricted to the opinion of European investors. However, the evidence contributes to the existing literature by investigating institutional investors' information needs in the new regulatory landscape. Practical implications: As the study provides insights into institutional investors' needs, reporting companies recognise the relevance of transparently providing sustainability information to be further considered in the investment process of institutional investors despite the regulation. The findings can help regulators develop uniform and global sustainability reporting standards. Originality/value: This paper is the first to provide evidence on sustainability information requested on the institutional investors' side. The survey gathers primary data from professional investment members unavailable in databases or reports. [ABSTRACT FROM AUTHOR]

Climate risk represents an increasingly vital issue to countries, companies, and institutional investors, making it a reality but not a distant threat to humanity. Considering the effects of climate risks on firms' financial indices and financing options, the study investigates whether climate risk is priced by the capital markets of South Africa. The study used reported carbon emissions as a measure of climate risk of 81 listed companies in the Johannesburg Stock Exchange from 2011 to 2020 to examine whether climate risk is considered and priced by the South Africa capital market. Data was sourced from DataStream database- a global financial and macroeconomic time-series database providing data on equities, stock market indices, currencies, company fundamentals, fixed income securities, and key economic indicators. We used the two-step system Generalized Method of Moments estimation technique that copes with endogeneity concerns to corroborate the effects of climate risk on cost of capital and capital structure. We find that climate risk is priced in both cost of debt capital and cost of equity capital. Specifically, we find that an increase in a firm's exposure to climate risk increases the cost associated with issuing debt and equity capital. We also find that climate risk exposure decreases the debt-equity ratio. Additionally, the study showed that firm size, leverage ratio, capitalization, profitability, and turnover affect both cost of capital and capital structure of listed firms. The study concludes that climate risk is priced in cost of financing in the capital market of South Africa. The study recommends that firms should invest in installing eco-friendly machinery that aligns with changing market expectations in order to reduce their carbon emissions. The study therefore highlights the need for companies to proactively assess and manage climate risks, incorporate climate considerations into their strategic decision-making, and enhance their resilience to climate-related challenges. JEL Classifications: C23; G10, Q50 Keywords: Climate risk, cost of capital, capital structure, capital markets, INTRODUCTION Climate risk represents an increasingly vital issue to countries, companies, and institutional investors (Ginglinger, 2020), making it a reality but not a distant threat to humanity (Hjort, 2016). Since [...]

Copyright of Environmental & Social Management Journal / Revista de Gestão Social e Ambiental is the property of Environmental & Social Management Journal 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.)

Location choice for outward foreign direct investment (OFDI) is key to companies' strategic decision-making on internationalization. We provide a comprehensive framework for Chinese companies selecting OFDI locations based on an eclectic (OLI) paradigm and neo-institutional economics. We reveal that investment motivation and host country's quality of institutions and bilateral institutional distance play interactive, complex roles in China's location choice for direct investment in ASEAN. Chinese companies prefer investing in ASEAN countries with better institutional quality, especially higher political stability, absence of violence/terrorism, government regulatory quality, and rule of law. Institutional quality significantly promotes market-seeking, efficiency-seeking, and resource-seeking investments; among institutional quality factors, rule of law and corruption control significantly promote market-seeking, resource-seeking, and efficiency-seeking investments, while regulatory quality and government effectiveness significantly promote market-seeking and efficiency-seeking investment. The better the host country's institutional quality, the more attractive it is for market-seeking and efficiency-seeking investments, but less for resource-seeking investments. [ABSTRACT FROM AUTHOR]

We investigate the impact of China's BRI on foreign institutional investment in Pakistani public firms. The question of interest is whether the BRI attracted foreign institutional investment in Pakistani firms in the presence of low government transparency about the BRI. We find that, on average, Pakistani public firms did not experience significant growth in foreign institutional investment between the pre- and post-BRI periods. However, we find that foreign institutional investment increased for Pakistani firms affiliated with business groups relative to non-affiliated Pakistani firms between the pre- and post-BRI periods. We note that the results become stronger with higher levels of groups diversification. Our finding of increased institutional investment for affiliated Pakistani firms also holds relative to matched Indian affiliated firms. These findings suggest that foreign institutional investors prefer business groups in emerging economies as a source of opportunity to overcome the institutional voids problem. [ABSTRACT FROM AUTHOR]

This study investigates how institutional ownership influences investment efficiency, using accounting conservatism as an intermediary factor, the study examines nonfinancial firms listed on the Indonesia Stock Exchange for the period from 2018 to 2020. The sample comprises 102 firms chosen via stratified random sampling. Annual report data from the companies were assessed through path analysis, revealing that institutional ownership positively influences accounting conservatism, which in turn positively affects investment efficiency. However, institutional ownership alone does not significantly impact investment efficiency. Accounting conservatism has been shown to mediate the connection between institutional ownership and investment efficiency. [ABSTRACT FROM AUTHOR]

Too few institutional investors are prepared to invest in young and innovative companies. This hampers the long-term growth prospects of the German economy. Instead, institutional investors in Germany hold more conservative portfolios than their European counterparts, investing heavily in bonds. Building up supplementary funded pensions and removing barriers to investing in riskier but growth-enhancing activities can help mobilise more growth capital in the long term. [ABSTRACT FROM AUTHOR]

Free and convenient investment is a fundamental requirement for the construction of free trade ports. The formation of a legal and regulatory system that is compatible with investment freedom and convenience is an important legal guarantee for promoting investment freedom and convenience in free trade ports. While continuously improving the institutional arrangements for investment freedom and convenience, Hainan Free Trade Port actively carries out legislation in the field of investment and has made positive progress in building a legal system that is compatible with investment freedom and convenience. This article researches the legal system of foreign investment in Hainan Free Trade Port, analyses the basic requirements for the construction of the legal system for foreign investment in Hainan Free Trade Port, and proposes corresponding countermeasures to provide important legal guarantees for the comprehensive construction of a globally influential free trade port with Chinese characteristics. [ABSTRACT FROM AUTHOR]

This document discusses the importance of privately protected areas (PPAs) in biodiversity conservation, specifically focusing on their growth and potential in Australia. It highlights the legal and governance arrangements that support the establishment and maintenance of PPAs, particularly in Victoria. The document emphasizes the significance of conservation covenants in maintaining and establishing new PPAs, as well as their potential to contribute to ecosystem restoration and climate adaptation. Challenges such as the need for public investment and better financial incentives for landowners are identified. The document concludes by emphasizing the importance of further research into PPAs and their contribution to biodiversity targets. [Extracted from the article]

Copyright of Informacion Comercial Espanola Revista de Economia is the property of S.G.E.E.I.P.C., Secretaria de Estado de Comercio, Ministerio de Industria, Comercio y Turismo 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.)

This paper examines market and institutional ownership reactions to REIT security issuances. Specifically, we examine the short- and long-term market performance of issuing REITs compared to their non-issuing counterparts. We additionally examine changes in systematic and idiosyncratic risk curtailing from security issuances as well as institutional ownership shifts stemming from the sale of new securities. We find that equity issuances are met with negative market reaction in the event window, while there is no significant immediate market reaction to debt issuances. Buy-and-hold abnormal returns are generally higher for equity issuers in comparison to debt-issuing and non-issuing firms. We also find that equity issuances increase systematic risk exposure while both types of security issuances reduce idiosyncratic risk. Finally, we document that serial issuers of both equity and debt see increases in institutional investment following issuances. [ABSTRACT FROM AUTHOR]

The present paper reviews the extant literature on Earnings Management (EM) in emerging economies using the integrated 'Antecedents Decisions Outcomes (ADO)–Theory, Context, and Methods (TCM)' framework to identify the firm-level and country-level factors influencing EM practices in these economies. Considering the increasing share of emerging economies in global Foreign Direct Investment and their unique institutional settings and opaque reporting environment, this review seeks to identify the key perspectives of EM studies in these economies. This review analyses 96 articles from 50 journals published between the period 2003 and 2021. Concentrated ownership structures at the firm level, weak regulatory mechanisms for investor protection, low level of enforcement, and culture at the country level are identified as key determinants influencing EM practices in emerging economies. The review finds a dearth of studies integrating the agency, institutional, and organizational theories which will help in better understanding the phenomena of EM in emerging economies. The review also identifies a contextual gap in terms of the need for more multi-country studies within the emerging economies which will provide a better insight into the diverse formal and informal institutions that shape incentives for EM in these economies. Similarly, there is a need to adopt a qualitative and mixed methods approach to study this phenomenon which helps strengthen the theoretical framework for studying EM in emerging economies. [ABSTRACT FROM AUTHOR]

This study investigates the institutional factors influencing foreign direct investment within the Eurozone of the European Union (EU) and explores their correlation with economic integration. Attracting foreign direct capital investments is closely related to countries' efforts to make their institutional structures more competitive. Because economic integrations can contribute to economic growth by allowing these investments to increase. For his reason, the study focused on the course of foreign direct capital investments in the Eurozone in the 2002-2022 period and the institutional determinants of these investments were analyzed using the panel data method. The empirical analysis revealed that variables such as foreign direct investment, government effectiveness, political stability, and accountability did not experience any significant shocks. In the short term, a direct causal relationship between foreign direct capital investments and corruption has been found. Nevertheless, in the long term, it has been established that variables such as control of corruption, government effectiveness, political stability, rule of law, accountability, and regulatory quality collectively exhibit a causal relationship with foreign direct capital investments. These findings emphasize the importance of institutional structure for increasing foreign direct capital investments. Enhancements in governmental efforts to combat corruption, enhance governance effectiveness, promote political stability, uphold the rule of law, enhance accountability, and improve regulatory quality can significantly contribute to fostering foreign direct investment. In conclusion, this study provides valuable insights into the determinants of foreign direct investment in the euro area and offers guidance for future policy actions. [ABSTRACT FROM AUTHOR]

Foreign institutional investment has played a significant role in India's recent economic progress. During the 2008 global financial crisis, the influence of foreign institutional investment on India's economic growth was uneven. With this context in mind, the objective of this study is to analyze the influence of COVID-19, COVID-19 vaccines administered and lockdown stringency on the inflow and outflow of foreign institutional investment in India, using the daily data from January 30, 2020 to January 24, 2022. To achieve the objective of the present study, we have employed the wavelet coherence approach, and Breitung–Candelon spectral granger causality approaches. The outcomes of the wavelet coherence approach show that foreign institutional investment has responded negatively to both the COVID-19 outbreak and the lockdown stringency. Interesting, the response of foreign institutional investment was observed to be hostile towards COVID-19 vaccines; which underscores wait and see strategy of investors during the sample period. The frequency-domain causality approach affirms the lead–lag relationship between COVID-19, COVID-19 vaccines administered, lockdown stringency, and foreign institutional investment. We conclude that COVID-19 and lockdown are predictive factors for future foreign institutional investment at different frequencies. The study is an original work and offers useful policy recommendations. [ABSTRACT FROM AUTHOR]

Deterrence, preparedness, and response to evolving chemical, biological, radiological, and nuclear CBRN threats are being strengthened by international communities and states. These threats require closer top-down and bottom-up cooperation at all levels in order to enable collaborative shared efforts, foster an environment for learning from one another, pool resources and expertise, and take advantage of synergies with an ultimate objective of improving institutional and collective safety and security. Improving preparedness and response necessitates closer and stronger interactions among various stakeholders, including security practitioners, researchers, policy makers, innovation providers, small and medium-sized enterprises (SMEs), and industry. In this context, forging a dynamic multidisciplinary CBRN network could be a more effective approach to promote synergies and addressing the need for stronger cooperation. A resource pooling strategy helps build a highly cooperative CBRN stakeholder community and ensures the network's long-term viability and sustainability. This study examines practical methods to ensure sustainability in pooling and sharing resources, knowledge, and best practices in the field of CBRN training and capacity building. It details how a solution-oriented strategy was created, including a generalised method for combining resources and maximising institutional and government investments. This study was conducted by combining the results of a literature review on best practices in resource pooling and sharing, determining its applicability to CBRN defence, and examining the Horizon 2020 project, European Network of CBRN Training Centres (eNOTICE), as a case study to draw real-time input from the project activities. This work proposes a novel and strategic contribution to the field of CBRN defence in the form of a practice-oriented concept and methodology, for establishing and maintaining CBRN networks at local, regional, and global levels. This top-down and bottom-up transversal strategy offers a way forward that can help CBRN-related dynamic interdisciplinary networks to establish, maintain, and develop in a sustainable way. [ABSTRACT FROM AUTHOR]

Copyright of Management & Organization Review is the property of Cambridge University Press 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.)