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Although the chief executive officers (CEOs) are the primary figures in nonprofit organizations (NPOs), there is limited literature on the impact of their characteristics and roles on NPOs' performance, particularly the influence of CEO duality and its outcomes. This study investigates the correlation between CEO duality and NPO performance, with a specific focus on the moderating role of organizational sub-sectors. Organizational sub-sectors in this context refer to two types of NPOs: those operating in multiple sub-sectors and those operating in a single sub-sector. A total of 296 CEOs participated in the survey, resulting in a response rate of 67.51%. Using multiple regression analysis within SPSS, the study demonstrates that CEO duality enhances NPO performance and provides support for the proposed moderating role. Specifically, the study suggests that CEO duality has a more pronounced positive effect on NPOs operating in multiple sub-sectors compared to those with a single sub-sector. These findings are consistent with stewardship theory and hold both theoretical and practical implications for governance policies and strategic decision-making. [ABSTRACT FROM AUTHOR]

In The Benjamin Files (2020), Fredric Jameson showcases Benjamin the writer. Adapting Roland Barthes's term "writerly" (scriptible), he emphasizes the panoramic variety of Benjamin's production together with its experimental character, its deployment of montage techniques akin to those of filmmakers and poets of his day. Jameson shows how the polyphony and multiperspectivity of Benjaminian forms reflect a monadological theory of history as "periodization without transitions." Pablo Oyarzun's Doing Justice: Three Essays on Walter Benjamin (translated by Stephen Gingerich, 2020), views Benjamin in the context of a philosophic eventism and an ontological theory of language as revelation. Underscoring the centrality of the concepts of experience and translation in Benjamin's thinking, and providing relevant personal testimony concerning recent Chilean history, Oyarzun presents Benjamin as the "thinker of justice." The call for justice, understood as a nonlegalistic promissory directive, entails a philosophical‐historical stewardship: doing justice means worldly attentiveness to the particularity of things. [ABSTRACT FROM AUTHOR]

Stewardship theory offers considerable promise for strengthening trust between governments and organizations implementing policy. Recent studies show stewardship is partially applicable to the steering of public organizations yet it is not clear under what conditions. This study asserts that the steering of governmental organizations needs to be aligned with preferences and conditions of organizations, combining principal-agent and stewardship theory. The article adopts a unique nested comparative mixed methods study focusing on perceived and preferred steering of Danish agencies and educational institutions. The study finds a higher alignment of steering for agencies, mostly because participants experience real partnerships and closer proximity. [ABSTRACT FROM AUTHOR]

Drawing upon stewardship theory, we propose a moderated mediation model that thriving at work as the mediator and organizational identification as the moderator in the relationships between servant leadership and employee knowledge sharing. Using a sample of 355 working adults through a time-lagged survey in China, the hypotheses were demonstrated using Hayes' PROCESS macro in SPSS. The results reveal that thriving at work fully mediates the positive effect of servant leadership on employee knowledge sharing. Furthermore, the indirect effect of servant leadership on knowledge sharing via thriving at work is stronger for employees with high organizational identification. This study advances our understanding of how servant leadership results in knowledge management among employees. This contributes to the literature by identifying thriving at work as a suitable mediating mechanism linking the positive associations of servant leadership with employees' knowledge sharing behavior. [ABSTRACT FROM AUTHOR]

This paper investigates how entrepreneurs' social media usage affects corporate philanthropy. Departing from the extant literature, which focuses on the instrumental role of social media, we draw upon the normative perspective of stewardship theory and propose that entrepreneurs' social media usage promotes their ethical and prosocial motivation for corporate philanthropy. In particular, we theorize that entrepreneurs' social media usage enhances their self‐perceived status and philanthropic identification, thus affecting corporate philanthropy. Our analysis of a sample of Chinese ventures provides empirical support for the mediating effects of self‐perceived status and philanthropic identification on the relationship between entrepreneurs' social media usage and the philanthropic propensity and intensity of their ventures. Our study has implications for the role of social media in promoting corporate philanthropy and contributes to the literature on entrepreneurship and corporate philanthropy. [ABSTRACT FROM AUTHOR]

Copyright of International Journal of Professional Business Review (JPBReview) is the property of Open Access Publications LLC 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 research article investigates the relationship between the marital status of board members and organizations' environmental, social, and governance (ESG) disclosure, with Jordan as the study context. The investigation, grounded in established governance theories, primarily agency theory, stewardship theory, and social identity theory, adds a novel dimension to the discourse on corporate governance perspective. The study sample included 81 nonfinancial companies listed on the Amman stoke exchange from 2012 to 2021. The findings disclose a pronounced positive relationship between married board members and ESG disclosure separately and collectively, pointing to a normative commitment emanating from their personal lives that extends into their roles as corporate stewards, influencing corporate sustainability, and ethical governance. Conversely, the results did not indicate a relationship between single board members and ESG disclosure. The study underscores the importance of considering the personal attributes of board members in shaping corporate governance and ESG practices. Also, it encourages a broader perspective on how diverse personal backgrounds can enhance sustainability and ethical values within organizations by advocating for boards that reflect diverse marital statuses and a commitment to family values, benefitting not only shareholders but also society at large. [ABSTRACT FROM AUTHOR]

We examine links between corporate cash holdings and types of CEO power, and how these affect firm performance, using agency and stewardship theories to distinguish two types of CEO power: one attributable to the CEO position, and one attributable to CEO personal characteristics. Measured as indices, we find positive associations with cash holdings for both types of power, individually and in combination, but only positional power with higher cash holdings is positively associated with firm performance. Our findings are shown to be robust and suggest that scrutiny of cash holdings by CEOs with high personal power may be prudent. [ABSTRACT FROM AUTHOR]

Background: Halyomorpha halys Stål, commonly known as the brown marmorated stink bug, poses a significant threat to various crops, necessitating repeated seasonal insecticide applications for control. However, these methods carry environmental and human health risks. Considering these concerns, there is a pressing need to explore alternative, eco-friendly approaches to managing H. halys populations. This study sets out to investigate innovative strategies that minimize reliance on harmful chemicals while still effectively controlling the stink bug menace. By delving into the realm of sustainable pest management, the aim is to develop methods that strike a balance between pest control efficacy and environmental stewardship. This study aims to explore eco-friendly approaches to managing H. halys populations. Methods: The research involved monitoring the population dynamics of H. halys in the central zone of the Krasnodar Territory, Russia. It also evaluated the efficacy of local parasitic insects Pediobius cassidae and Anastatus bifasciatus in reducing pest infestations, conducted laboratory tests on the insecticidal properties of essential oils from plants such as wormwood, coriander, and Siberian fir, and performed field trials on biological control agents. Results: Infestation rates by parasitic insects remained relatively low, ranging from 5-10%. Laboratory experiments demonstrated the potent insecticidal properties of essential oils derived from wormwood, coriander, and Siberian fir. Field trials further confirmed significant mortality rates of H. halys specimens when exposed to biological control agents. Conclusions: The study underscores the potential efficacy of utilizing parasitic insects and plant-derived essential oils in managing H. halys populations. These findings offer practical insights for promoting sustainable agricultural practices in the central zone of the Krasnodar Territory. [ABSTRACT FROM AUTHOR]

Our study is the first to analyze the influence of CEO power and ownership structures on earning manipulation. This study also clarifies whether different ownership structures discourage powerful CEOs from manipulating earnings in family businesses. The sample data is a balanced panel with 985 observations of 116 family businesses in Vietnam from 2005 to 2020. We primarily employ the dynamic system Generalized Method of Moments with cross-sectional fixed effect to overcome endogeneity and heterogeneity issues. Our findings indicate the negative relationship between CEO power and earning manipulation. Higher state or institutional ownership restrains powerful CEOs from manipulating earnings in family businesses. However, Powerful CEOs in family businesses with higher participation of blockholders increase the earning manipulation. Our robustness results show that CEOs from 50 to 70 years old reduce earning manipulation the most in family businesses. Our findings support agency theory, stewardship theory, resource dependency theory, monitoring and accountability theory, legal framework theory, reputation theory, monitoring theory, Maslow's need hierarchy, and prior literature. Our study contributes practical policy and management implications to sustainably reduce earning manipulation in family businesses. [ABSTRACT FROM AUTHOR]

The qualitative paper explores an alternative lens, that is, informed by a complexity perspective, through which to frame the adaptive role of local implementers in multi-level governance systems. It argues that three key tenets of complexity thinking – emergence, self-organisation and co-evolution – can help better explain that role. The re-conceptualisation of local actors – from agents to stewards – and of central government – from controller to enabler – are identified as the conditions that allow intelligent actors to leverage local varieties to deliver context-specific solutions. The paper ends with actionable measures that can enhance the self-steering capacity of policy systems. [ABSTRACT FROM AUTHOR]

This study investigates how corporate governance (CG) principles affect the financial performance of Small and Medium Enterprises (SMEs) in Kwa-Zulu Natal (KZN), South Africa, using stewardship theory. Corporate governance (CG) encompasses the regulations, procedures, and mechanisms Overseeing the administration and implementation of a business. Efficient corporate governance (CG) is crucial for Small and Medium Enterprises (SMEs) to function with maximum effectiveness and optimise entrepreneurial value. The study seeks to fill this vacuum in information by investigating the impact of using stewardship theory, which prioritises the long-term interests of stakeholders, on the financial performance of small and medium-sized enterprises (SMEs) in KZN.A quantitative approach was employed and a cross-sectional design was employed to survey 217 SMEs in the Durban South area. Descriptive statistics reveal a diversified KZN SME environment, with a predominance of medium-sized businesses, balanced gender representation, and a variety of business ages and educational backgrounds among owners and managers. Inferential statistics show significant correlations between CG principles and financial success metrics of SMEs, particularly affecting returns on invested capital and assets, net profit, asset value, and sales turnover. The results are consistent with earlier studies on the beneficial effects of CG on SME performance. The study is limited to SMEs in the Durban South area and may not be generalizable to other regions. Future research might compare studies across different areas and examine the long-term effects of CG on SMEs to identify optimum practices. The study recommends prioritizing efficient CG procedures tailored to SME needs. It suggests developing business management competencies and advocating for supporting legislation to enhance SME performance. [ABSTRACT FROM AUTHOR]

Purpose: The aim of the study was to examine the corporate governance and firm performance: a crosscountry analysis. Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries. Findings: Financial regulations in Germany impact market liquidity through a complex interplay of factors. While they enhance stability and investor protection, compliance costs and altered trading dynamics may initially hinder liquidity. However, regulatory initiatives driving innovation and global harmonization can ultimately foster a more efficient market environment, benefiting both domestic and international Unique Contribution to Theory, Practice and Policy: Agency theory, stewardship theory & institutional theory may be used to anchor future studies on the corporate governance and firm performance: a cross-country analysis. The study should provide practical recommendations for firms and corporate boards to enhance their corporate governance practices based on empirical findings. The study should inform policymakers and regulatory authorities about the implications of corporate governance regulations on firm performance and market competitiveness. [ABSTRACT FROM AUTHOR]

Purpose: This study examines shareholder and board motivations regarding corporate social responsibility (CSR) to understand boards' stewardship approaches to environmental issues. Design/methodology/approach: Using content analysis, the authors classify CSR motivations in all environmental shareholder proposals and board responses of Fortune 250 companies from 2013 to 2017 from do little (a shareholder primacy perspective) to do much (a stakeholder pluralism perspective). The authors calculate the motivational dissonance for each proposal-response pair (the Talk Gap) and use cluster analysis to observe evidence of board stewardship and subsequent environmental disclosure and performance (ED&P) changes. Findings: Board interpretations of stewardship are not uniform, and they regularly extend to stakeholders beyond shareholders, most frequently including profit-oriented stakeholders (e.g. employees and customers). ED&P changes are highest when shareholders narrowly lead boards in CSR motivation and either request both action and information or information only. The authors observe weaker ED&P changes when shareholders request action and the dissonance between shareholders and boards is larger. When shareholders are motivated to do little for CSR, ED&P changes are weak, even when boards express more pluralistic motivations. Research limitations/implications: The results show the important role that boards play in CSR and may aid activist shareholders in determining how best to generate change in corporate CSR actions. Originality/value: This study provides the first evidence of board stewardship at the proposal-response level. It measures shareholder and board CSR motivations, introduces the Talk Gap, and examines relationships among proposal characteristics, the Talk Gap, and subsequent ED&P change to better understand board stewardship of environmental issues. [ABSTRACT FROM AUTHOR]

Purpose – This study investigates the moderating effect of CEO power on the relationship between labor productivity and financial performance in the Tehran Stock Exchange (TSE). Design/methodology/approach – In this study, the power of the CEO variable was measured using the power index method and its effect on the relationship between labor productivity and financial performance was tested using a multivariate regression. The study sample consisted of 1,040 observations and 130 firms listed on the TSE over an eight-year period between 2012 and 2019. Panel data and appropriate statistical techniques were applied to estimate models. In this study, Tobin’s Q and return on assets (ROA) are the two variables used to measure financial performance. Findings – The results of the hypotheses show that the link between labor productivity and financial performance based on Tobin’s Q and ROA strengthens with increasing CEO power. Thus, the stewardship theory is approved on the TSE. In addition, CEO power and labor productivity have a positive impact on firm performance. Research limitations/implications – To the best of the author’s knowledge, this is the first study to examine the moderating impact of CEO power on the relationship between labor productivity and firms' financial performance in emerging capital markets. Therefore, the results of this study can be used by investors, board of directors, policymakers and regulations. Practical implications – Taking into consideration the sanctions on Iran's economy during the study period and to increase the productivity and financial performance of the company, the results of this study can provide a practical guide for the board of directors to consider the characteristics of CEO power and how to choose it in the emerging capital market. Additionally, the study results show that investors should choose companies with strong CEO to invest in the Iranian capital market. Originality/value – The current study is the first study conducted in an emerging economy to examine the moderating impact of CEO power on the link between labor productivity and financial performance.

This study seeks to examine the perspectives of family business owners and CEOs in Argentina on the necessary topics and elements to include in a family protocol that enhances family business continuity. Our model connects both Agency Theory and Stewardship Theory to the protocol with a focus on its impact on continuity. Data was collected through a survey completed by 220 family businesses in Argentina. Structural Equation Modeling was utilized to verify the model. The survey respondents' perception indicates that a family protocol aids the continuation of a family enterprise when it includes norms that diminish agency issues and promote stewardship behavior. Board formation regulation and family-business relation management are norms that lead to reducing agency issues. Thus, it is regarded as an efficient mechanism to avert or resolve conflicts without detrimental effects. Elements that endorse stewardship conduct include those that facilitate the emergence of a shared perspective, sense of membership, values, principles, traditions, and culture concerning both the content and the process. Accordingly, the two theories would be complementary.

Copyright of Vie et Sciences de l'Entreprise is the property of ANDESE 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.)

Current crises pose uncertainties and threats to family businesses (FBs), demonstrating the importance of risk management (RM). Based on an explorative case study of nine Austrian medium-sized FBs, we examine the design of RM in FBs and how the COVID-19 crisis impacts their RM practices. The findings highlight that the medium-sized FBs analyzed generally rely on both formal and informal RM, and that these structures are strongly connected to their unique stewardship culture. In the wake of the COVID-19 crisis, formal RM gained increased relevance, prompting FBs to allocate additional resources for its professional upgrading. Likewise, when confronted with heightened risks during the COVID-19 crisis, informal practices such as family bonds and close ties to employees and customers are not only reinforced but also proven highly effective, resulting in increased loyalty. The COVID-19 crisis serves as a compelling illustration of how both informal and formal RM methods have grown in strength. The synergy between these RM methods enhances risk awareness within FBs, ultimately fostering resilience during unpredictable and uncertain times. [ABSTRACT FROM AUTHOR]

This study investigates the impact of country-level eco-innovation policies on the environmental performance of European firms. As different industries are expected to produce more pollution, the study then explores the impact on the firms operating in sensitive industries. We use fixed effects panel data models to examine 1,098 firms listed in 22 European countries from 2010–2018. Our results indicate that country-level eco-innovative policies provide an encouraging environment for European firms to adopt environment-friendly practices. Eco-innovation policies help firms achieve CO2 targets and mitigate climate change which supports the product stewardship theory. Our results also suggest that larger, more profitable, and low debt-financed European firms have better environmental performances. We also find a moderating impact of industry sensitivity and make an intriguing discovery that country-level eco-innovation policies hinder the environmental efforts of the firms operating in sensitive European industries. These results are robust to different proxies of eco-innovation and endogeneity issues due to reverse causality. [ABSTRACT FROM AUTHOR]

The continuing depletion of the world's aquifers has given rise to a profound intergenerational inequity, as prospects for future generations have been diminished through the actions of the current and earlier ones. We explore what can be done to confront this depletion-induced inequity, propose a theological framework that supports efforts to address it, and consider possible roles that the pastoral community could play in charting paths to a more sustainable future. [ABSTRACT FROM AUTHOR]

Despite the prevalence of corporate entrepreneurship, our understanding of its temporal horizon remains undeveloped. This study fills this gap by using stewardship theory to elaborate on how an entrepreneur's prior experience moderates the association between a firm's long-term orientation and corporate entrepreneurship. Using data based on a large-scale survey of private small and medium-sized firms in China, we find that long-term orientation plays a positive role in the corporate entrepreneurship of small and medium-sized firms. The evidence shows that the link between long-term orientation and corporate entrepreneurship is enhanced within firms where entrepreneurs have prior experience in the government or the military. However, the strength of this link is weakened within firms where entrepreneurs have overseas experience. This study contributes a fine-grained understanding of the temporal horizon and stewardship tendency that firms integrate when implementing entrepreneurial activities. [ABSTRACT FROM AUTHOR]

The governance of family businesses has been a subject of great interest and research in recent years. As these enterprises contribute significantly to global economies, understanding their governance becomes crucial. Indeed, managing the governance of these organizations presents a unique challenge due to a variety of factors. One prominent aspect is their intricate and enduring stakeholder framework, which encompasses family members, senior executives, and controlling boards (Moufdi & Manosuri, 2021). This contribution, which is theoretical in scope, aims to open a debate on the theoretical approaches of corporate governance that researchers must mobilize while highlighting their main strengths and limitations when it comes to understanding the "family business" phenomenon. The results obtained show that the analysis of their governance requires a combination of the contractual view (agency theory being the dominant theory of this current) and the relational view (encompassing stewardship theory and social capital theory) of corporate governance. We believe that the theoretical framework thus adopted provides a multidimensional understanding of family business governance and provides comprehensive insight and significant relevance in understanding the intricacies of this organization's governance, offering valuable perspectives for researchers interested in this field of investigation. [ABSTRACT FROM AUTHOR]

Despite the well-established characteristics of shareholder-CEOs and professional-CEOs, previous research has yielded inconclusive findings on the actual impact of the separation of shareholding and management on firm financial performance. This study aimed to address this gap by going off the beaten path of research centered on the U.S.-listed firms and investigating 55 firms listed on the Nasdaq Baltic market in the post-Soviet countries of Estonia, Latvia, and Lithuania from 2017 to 2021. While professional-CEO-led firms displayed higher Tobin’s Q (M = 1.37) compared to shareholder-CEO-led firms (M = 1.17), and shareholder-CEO-led firms had a higher average ROE (M = 7.76%) compared to professional-CEO-led firms (M = -1.74%), independent samples t-test analysis revealed that these differences in either stock market performance (p = .250 > .05) or shareholder return (p = .193 > .05) were statistically insignificant. These findings challenge organizational life cycle theory and agency theory predictions, aligning instead with stewardship theory and upper echelons theory, suggesting that CEO characteristics, motivation, and actions, while clearly distinct for shareholder-CEOs and professional-CEOs, are not the sole determinant of financial performance in mature firms. Accordingly, shareholder-CEOs, other stockholders, and boards of directors should draw support from these findings in their considerations regarding firm leadership. [ABSTRACT FROM AUTHOR]

Electronic procurement of government products and services strives to promote good governance by enhancing internal control and fraud prevention. This study aims to assess how e-procurement and internal control can prevent fraud in purchasing goods and services in Indonesia. Participants in the regional work units (SKPD) in Riau’s procurement of goods and services make up the study’s population. The sample included 85 respondents with the requirements for a position relating to the successful procurement of goods and services from December 2021 to December 2022. The paper used a purposeful sampling technique. This study employed a quantitative method and SmartPLS 3.0 to evaluate the data. The results concluded that the implementation of e-procurement (β = 0.231; p < 0.05) and internal control (β = 0.231; p < 0.05) have a substantial impact on fraud prevention during the procurement of goods and services. By absorbing the capital expenditure budget and limiting fraud, it is envisaged that the Indonesian government may maximize its fraud prevention. It is desired that persons involved in procuring products and services constantly broaden their understanding of and perspectives on procurement, particularly those on other crucial aspects of procurement.

Exploring the critical but largely overlooked rule-breaking nature of entrepreneurship, we study how a specific form of rule-breaking—prosocial rule-breaking (PSRB), can impact people's entrepreneurial career intentions. Based on the virtue-based model of entrepreneurial rule-breaking, stewardship theory, and the expectancy framework, we expect that employees' affective organizational commitment will lead to employees' PSRB, which, under some conditions, is related to their tendency to quit and start new businesses. Our moderated mediation analyses on time-lagged data from two samples in China support an indirect relationship between affective organizational commitment and entrepreneurial intentions mediated by PSRB and moderated by age and entrepreneurial self-efficacy simultaneously. We discuss theoretical and practical implications. [ABSTRACT FROM AUTHOR]

The purpose of this study is to examine the issue of inflation accounting and decision usefulness. As well as having political costs for a country, inflation has financial costs for companies and their stakeholders. To test the necessity of inflation accounting adoption, Ohlson's (1995) pricing model is used and earnings volatility is measured across years. It was concluded that earnings are more volatile and don’t explain the changes in company market value when inflation adjustments are required. Furthermore, it has been suggested that stewardship theory can explain the reporting of inflation-adjusted values in conjunction with historical cost values. [ABSTRACT FROM AUTHOR]

Among the misleading conceptions that may prevent adequate action to mitigate the consequences of climate change are two predominant views: the understandings of nature as a gift and of humans as stewards of creation. This article discusses these conceptions critically before suggesting alternative ways to understand humanity's place in and activity with nature. The constructive proposals at the end are based on insights from philosopher G.W.F. Hegel on the need to see ourselves as part of a unity with nature, and theologian I.U. Dalferth, who provides a basis for another type of sensitivity for nature that is not based merely in human activity, but also in the need for passivity and the recognition of our finitude. [ABSTRACT FROM AUTHOR]

This study aims to contribute to the existing literature by examining the relationship between corporate governance (CG) attributes and real-based earnings management (REM) in the context of an emerging market economy. The study employs a sample of 78 Egyptian Exchange (EGX)-listed companies covering the period from 2008 to 2017, yielding a total of 780 observations. To address dynamic endogeneity concerns between CG mechanisms and REM, the dynamic panel system-generalized method of moments (SGMM) estimator is used as the main analytical tool. The findings reveal that managerial and family ownership are negatively and significantly correlated with REM proxies, except for the ABCFO measure. By contrast, government and institutional ownership exhibit contrasting results, depending on the REM proxies used. The CG-EM relationship is influenced by several conflicting theoretical perspectives, including agency theory, institutional theory, stewardship theory, and resource dependence theory, resulting in inconsistent empirical findings. To the best of the authors' knowledge, this study is the first to detect Real-earnings manipulation practices (REM) in the Egyptian context using six models to confirm the validity, reliability, and robustness of the findings. Additionally, the study employs an advanced statistical technique that considers endogeneity, heteroscedasticity, and simultaneity in the relationship between CG mechanisms and earnings quality. The results highlight the importance of considering the institutional and legal context of a country when analyzing the impact of corporate governance mechanisms on earnings quality, as the practice and implementation of governance mechanisms vary across countries. [ABSTRACT FROM AUTHOR]

Notwithstanding the prevalent facets of shareholder stewardship as a market concept, this paper advances the argument that there is another constitutive - though well hidden - element that is more apt to fully grasp its distinctive features and better inform market and public policy initiatives. This element regards stewardship's essence as a social norm. Indeed, what this article calls the 'stewardship sociality' offers original insights into the dynamics developing between different stewards. In parallel, building upon the premises of a real entity theory of company law, this paper explores the social interactions within and between stewardship groups, by demonstrating that their autonomous action requires a minimally coercive response from law. It is thus 'stewardship autonomy', as it is called in this paper, that suggests that any legal reform needs to be confined in soft law instruments that depict the sociality of stewardship within a constantly evolving global landscape. [ABSTRACT FROM AUTHOR]

In 2013, the Indian government mandated all companies to spend a portion of their profits on Corporate Social Responsibility ('CSR') activities but did not require companies to incorporate sustainability into their business, leading the statutory provision mandating CSR to become a box-ticking exercise. This approach of tick-box compliance with the CSR mandate is now being questioned by various investment funds that are actively pushing for the incorporation of Environmental, Social and Governance ('ESG') concerns into the business practices of their portfolio companies. While the Stewardship Codes promulgated by the various Indian regulators expressly mandate investment funds to monitor the ESG risks of their portfolio companies, there are no sanctions for non-compliance. This paper suggests the introduction of a market-based enforcement mechanism for the Stewardship Codes to enhance their effectiveness and practical relevance in the Indian legal framework. [ABSTRACT FROM AUTHOR]

This research examines the relationship between board independence and earnings stability in Indian companies. The study focuses on the BSE-500 index constituents, which represent 4,044 firm-years from 2011 to 2022, and aims to fill gaps in the literature by providing insights into how various board characteristics affect earnings stability. The study employs a novel non-linear approach that integrates Resource Dependency Theory (RDT) and Stewardship Theory to assess the impact of board independence on earnings stability. The study uses a quadratic regression model to examine the relationship between board independence and earnings stability, with earnings stability measured using the Return on Assets Consistency Ratio (ROACR). The findings indicate an inverted U-shaped relationship between board independence and earnings stability, suggesting there is an optimal level of board independence that maximizes stability in earnings. The study also explores other factors such as asset turnover ratio, institutional ownership, leverage, promoter holdings, and firm size. This research highlights the importance of balanced board composition and provides valuable insights for policymakers and practitioners aiming to optimize corporate governance structures for sustainable firm performance. [ABSTRACT FROM AUTHOR]

This research was conducted due to the prevalence of fraud, despite several preventative regulations. The phenomenon of fraud persists in all fields, including state university education. This is quantitative research with a population of 122 internal auditors at state universities to analyze the role of internal audit and transformational leadership style on fraud prevention from a stewardship theory perspective. Purposive sampling was conducted to obtain 65 auditors as samples, and the hypothesis test was analyzed by Statistical Package for the Social Sciences version 25 (SPSS 25). Based on the results, the first hypothesis indicates that internal audit positively affects fraud prevention. Internal audit is part of the organization and plays a role in detecting and preventing fraud. Meanwhile, the second hypothesis suggests that the transformational leadership style positively affects fraud prevention. Transformational leadership can reduce the fraud committed by subordinates because leaders have good vision, rhetoric, and special management skills, to build strong emotional relationships. For internal auditors and leaders, this research contributes to improving fraud prevention in the university environment by maximizing the role of internal audit and leadership. This can increase the impetus to achieve organizational goals efficiently and effectively. Further research can develop the control environment and manage risk for fraud prevention. [ABSTRACT FROM AUTHOR]

AbstractThe article was conducted to evaluate the impact of CEO characteristics on the performance of Vietnamese commercial banks. Variables representing the performance of commercial banks are return on total assets (ROA) and return on equity (ROE). Data was collected from 30 Vietnamese commercial banks from 2012–2020. By the regression methods of Pooled OLS, Fixed Effects Model (FE), Random Effects Model (RE), Feasible Generalized Least Squares (FGLS), the research results show that CEO duality and CEO age positively impact the performance of Vietnamese commercial banks. In contrast, the female CEO factor has a negative impact on ROE. In addition, the study did not find evidence of the impact of the CEO’s financial background and the CEO tenure on the performance of Vietnamese commercial banks.

The theoretical underpinning of compensation for CSR in the SDG era emerges as a trending area for researchers. However, the measurability of CSR is a technical problem for CSR research in developing nations. This study uses 5,699 firm-year observations and entropy measures to assign CSR engagement scores based on CSR breadth and depth. The results reveal that total compensation (TC) behaves according to stewardship theory and positively influences CSR engagement, breadth, and depth. However, fixed (FC) and variable (VC) compensations follow agency theory and have a negative and positive impact on CSR engagement, breadth, and depth, respectively. We also examine the impact of TC, FC, and VC on CSR engagement levels in firms' external and internal control. We observe that high-leverage firms hold the baseline result, whereas, in internal control, the non-business group firms hold the baseline result. Moreover, in institutional ownership, we find that TC and VC follow the stewardship and agency theories and positively affect CSR engagement. In contrast, the impact of FC on CSR engagement is not affected by institutional ownership. The findings of this study can help policymakers improve CEO compensation structures to increase CSR practices and ensure the achievement of SDGs by 2030. [ABSTRACT FROM AUTHOR]