International Journal of Law and ManagementTable of Contents for International Journal of Law and Management. List of articles from the current issue, including Just Accepted (EarlyCite)https://www.emerald.com/insight/publication/issn/1754-243X/vol/66/iss/2?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestInternational Journal of Law and ManagementEmerald Publishing LimitedInternational Journal of Law and ManagementInternational Journal of Law and Managementhttps://www.emerald.com/insight/proxy/containerImg?link=/resource/publication/journal/18e1f471b6d84c21891ffe34fc890712/urn:emeraldgroup.com:asset:id:binary:ijlma.cover.jpghttps://www.emerald.com/insight/publication/issn/1754-243X/vol/66/iss/2?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe unfolding of shareholder activism in India: an exploratory studyhttps://www.emerald.com/insight/content/doi/10.1108/IJLMA-07-2023-0167/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe purpose of this study is to provide a holistic view of the emergence of shareholder activism (SA) in India. However, specifically, this study aims at fulfilling the research gap by discussing the policy and legal advancement in the area of SA and investigating the chronological evolution of SA, manifestations of SA, motives of SA, outcome of SAs and impact of SA on the financial performance of the firm. This study used a mixed methodology (both qualitative and quantitative) to draw inferences, including content analysis, descriptive statistics, independent sample t-test and paired sample t-test. The data has been collected from the annual reports of the sample companies and the Prowess database. Return on assets and return on equity have been used as measures of financial performance while investigating the difference in financial performance between firms subjected to SA and firms not subjected to SA. The findings of this study suggest that there has been significant growth in the occurrence of SA incidents in India in the past decade, with shareholders prominently manifesting by opposing the proposals at annual general meetings/extraordinary general meetings, mostly involving governance-related demands. The findings from the independent sample t-tests revealed that there has been a significant difference in the financial performance of the sample subjected to SA and firms not subjected to SA. Furthermore, the results of the paired sample t-test provide strong evidence of significant improvement in the financial performance of firms’ post-SA. The findings of this study have implications for various stakeholders. The findings of this study suggest that SA has been relatively more successful in the Indian context and may encourage minority shareholders to follow active participation through shareholder proposals and votes rather than a passive strategy to trade and exit. For firms, it can provide valuable inferences about the emergence of SA and how it has a positive impact on the financial performance of the firm, which can lead to a change in the perception of investors and promoters who perceive SA as a threat (Gillan and Starks 2000; Hartzell and Starks, 2003). For policymakers, it can act as a tool to investigate whether the regulatory changes have been able to bring the intended transparency, accountability and enhanced shareholder participation. This will encourage policymakers to be more agile, as their efforts are bearing fruit. This will also act as a guide to formulating future policies and regulations. This study is an effort to provide a holistic view of SA scenarios in a developing economy setting like India, where SA is a very recent phenomenon. Although there are studies in the area of SA, there is a dearth of studies that have investigated the various dimensions of SA in the Indian context in a very systematic and extensive manner, investigating all the different dimensions of SA. Furthermore, this study also intends to investigate the impact of SA, which is normally perceived as a threat to financial performance and provide valuable contrasting evidence.The unfolding of shareholder activism in India: an exploratory study
Ajaz Ul Islam
International Journal of Law and Management, Vol. 66, No. 2, pp.129-154

The purpose of this study is to provide a holistic view of the emergence of shareholder activism (SA) in India. However, specifically, this study aims at fulfilling the research gap by discussing the policy and legal advancement in the area of SA and investigating the chronological evolution of SA, manifestations of SA, motives of SA, outcome of SAs and impact of SA on the financial performance of the firm.

This study used a mixed methodology (both qualitative and quantitative) to draw inferences, including content analysis, descriptive statistics, independent sample t-test and paired sample t-test. The data has been collected from the annual reports of the sample companies and the Prowess database. Return on assets and return on equity have been used as measures of financial performance while investigating the difference in financial performance between firms subjected to SA and firms not subjected to SA.

The findings of this study suggest that there has been significant growth in the occurrence of SA incidents in India in the past decade, with shareholders prominently manifesting by opposing the proposals at annual general meetings/extraordinary general meetings, mostly involving governance-related demands. The findings from the independent sample t-tests revealed that there has been a significant difference in the financial performance of the sample subjected to SA and firms not subjected to SA. Furthermore, the results of the paired sample t-test provide strong evidence of significant improvement in the financial performance of firms’ post-SA.

The findings of this study have implications for various stakeholders. The findings of this study suggest that SA has been relatively more successful in the Indian context and may encourage minority shareholders to follow active participation through shareholder proposals and votes rather than a passive strategy to trade and exit. For firms, it can provide valuable inferences about the emergence of SA and how it has a positive impact on the financial performance of the firm, which can lead to a change in the perception of investors and promoters who perceive SA as a threat (Gillan and Starks 2000; Hartzell and Starks, 2003). For policymakers, it can act as a tool to investigate whether the regulatory changes have been able to bring the intended transparency, accountability and enhanced shareholder participation. This will encourage policymakers to be more agile, as their efforts are bearing fruit. This will also act as a guide to formulating future policies and regulations.

This study is an effort to provide a holistic view of SA scenarios in a developing economy setting like India, where SA is a very recent phenomenon. Although there are studies in the area of SA, there is a dearth of studies that have investigated the various dimensions of SA in the Indian context in a very systematic and extensive manner, investigating all the different dimensions of SA. Furthermore, this study also intends to investigate the impact of SA, which is normally perceived as a threat to financial performance and provide valuable contrasting evidence.

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The unfolding of shareholder activism in India: an exploratory study10.1108/IJLMA-07-2023-0167International Journal of Law and Management2023-10-05© 2023 Emerald Publishing LimitedAjaz Ul IslamInternational Journal of Law and Management6622023-10-0510.1108/IJLMA-07-2023-0167https://www.emerald.com/insight/content/doi/10.1108/IJLMA-07-2023-0167/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Islamic crypto assets and regulatory framework: evidence from Indonesia and global approacheshttps://www.emerald.com/insight/content/doi/10.1108/IJLMA-03-2023-0051/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe purpose of this study is to formulate a governance and regulatory framework for Islamic crypto assets (ICAs). A balanced regulatory framework is required to protect consumers and to encourage digital Islamic finance innovation. This study focuses on Indonesia and compares it to other countries, specifically Malaysia and the UK, using statutory, comparative and conceptual research approaches. The ICAs are permissible (halal) commodities/assets to be traded if they fulfil the standards as goods or commodities that can be traded with a sale and purchase contract (sil’ah) and have an underlying asset (backed by tangible assets such as gold). Islamic social finance activities such as zakat and Islamic microfinance activities such as halal industry are backed by ICAs. The regulatory framework needed to support ICAs includes the Islamic Financial Services Act, shariah supervisory boards, shariah governance standards and ICA exchanges. This study only examined crypto assets (tokens as securities) and not cryptocurrencies. It used regulations in several countries with potential in Islamic finance development, such as Indonesia, Malaysia and the UK. The ICA regulatory framework is helpful as an element of a comprehensive strategy to develop a lasting Islamic social finance ecosystem. The development of crypto assets must be supported by a regulatory framework to protect consumers and encourage innovation in Islamic digital finance. ICA has growth prospects; however, weak regulatory support and minimal oversight indicate weak legal protection for consumers and investors. Regulating ICA, optimising supervision, implementing shariah governance standards and having ICA exchanges can strengthen the Islamic economic ecosystem.Islamic crypto assets and regulatory framework: evidence from Indonesia and global approaches
Jamal Wiwoho, Irwan Trinugroho, Dona Budi Kharisma, Pujiyono Suwadi
International Journal of Law and Management, Vol. 66, No. 2, pp.155-171

The purpose of this study is to formulate a governance and regulatory framework for Islamic crypto assets (ICAs). A balanced regulatory framework is required to protect consumers and to encourage digital Islamic finance innovation.

This study focuses on Indonesia and compares it to other countries, specifically Malaysia and the UK, using statutory, comparative and conceptual research approaches.

The ICAs are permissible (halal) commodities/assets to be traded if they fulfil the standards as goods or commodities that can be traded with a sale and purchase contract (sil’ah) and have an underlying asset (backed by tangible assets such as gold). Islamic social finance activities such as zakat and Islamic microfinance activities such as halal industry are backed by ICAs. The regulatory framework needed to support ICAs includes the Islamic Financial Services Act, shariah supervisory boards, shariah governance standards and ICA exchanges.

This study only examined crypto assets (tokens as securities) and not cryptocurrencies. It used regulations in several countries with potential in Islamic finance development, such as Indonesia, Malaysia and the UK.

The ICA regulatory framework is helpful as an element of a comprehensive strategy to develop a lasting Islamic social finance ecosystem.

The development of crypto assets must be supported by a regulatory framework to protect consumers and encourage innovation in Islamic digital finance.

ICA has growth prospects; however, weak regulatory support and minimal oversight indicate weak legal protection for consumers and investors. Regulating ICA, optimising supervision, implementing shariah governance standards and having ICA exchanges can strengthen the Islamic economic ecosystem.

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Islamic crypto assets and regulatory framework: evidence from Indonesia and global approaches10.1108/IJLMA-03-2023-0051International Journal of Law and Management2023-10-19© 2023 Emerald Publishing LimitedJamal WiwohoIrwan TrinugrohoDona Budi KharismaPujiyono SuwadiInternational Journal of Law and Management6622023-10-1910.1108/IJLMA-03-2023-0051https://www.emerald.com/insight/content/doi/10.1108/IJLMA-03-2023-0051/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Managerial understanding of corporate social responsibility in Nepalhttps://www.emerald.com/insight/content/doi/10.1108/IJLMA-12-2022-0272/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestConsidering the ongoing debate regarding the roles of business in society, this paper aims to examine the managerial understanding of corporate social responsibility (CSR) in Nepal. This study uses explanatory sequential design under mixed methods of research. First, the questionnaire survey method was used to collect data from 168 managers of listed companies in Nepal. Second, semistructured interviews were conducted with 20 senior-level managers of listed companies to verify the results obtained from the survey and to gain a deeper understanding of the phenomena. The survey results show that managerial understanding of CSR is mainly guided by the notions of corporate philanthropy, stakeholder approach and political CSR, respectively. However, the managerial understanding vis-à-vis political CSR and corporate philanthropy were found to be remarkably positively influenced by the firm’s size, whereas the stakeholder perspective was widely held by the managers regardless of their firm’s size. The interview results largely substantiated questionnaire survey findings and further revealed vivid dimensions within the philanthropic approach, stakeholder approach and political CSR. Given the recent legal provisions vis-à-vis mandatory CSR spending in Nepal, the policymakers may devise and update common core and firm-size-specific informational, fiscal-economic, legal and partnering instruments based on the findings of this study. Besides, companies may go for appropriate institutional arrangements for CSR as needed. The reaffirmation of conventionally accepted roles and the approval of relatively nascent political roles of business in a distinct socio–political–legal–economic context of Nepal can be an important contribution to the literature.Managerial understanding of corporate social responsibility in Nepal
Bal Ram Chapagain, Pushkar Bajracharya, Dev Raj Adhikari, Dhruba Kumar Gautam
International Journal of Law and Management, Vol. 66, No. 2, pp.172-194

Considering the ongoing debate regarding the roles of business in society, this paper aims to examine the managerial understanding of corporate social responsibility (CSR) in Nepal.

This study uses explanatory sequential design under mixed methods of research. First, the questionnaire survey method was used to collect data from 168 managers of listed companies in Nepal. Second, semistructured interviews were conducted with 20 senior-level managers of listed companies to verify the results obtained from the survey and to gain a deeper understanding of the phenomena.

The survey results show that managerial understanding of CSR is mainly guided by the notions of corporate philanthropy, stakeholder approach and political CSR, respectively. However, the managerial understanding vis-à-vis political CSR and corporate philanthropy were found to be remarkably positively influenced by the firm’s size, whereas the stakeholder perspective was widely held by the managers regardless of their firm’s size. The interview results largely substantiated questionnaire survey findings and further revealed vivid dimensions within the philanthropic approach, stakeholder approach and political CSR.

Given the recent legal provisions vis-à-vis mandatory CSR spending in Nepal, the policymakers may devise and update common core and firm-size-specific informational, fiscal-economic, legal and partnering instruments based on the findings of this study. Besides, companies may go for appropriate institutional arrangements for CSR as needed.

The reaffirmation of conventionally accepted roles and the approval of relatively nascent political roles of business in a distinct socio–political–legal–economic context of Nepal can be an important contribution to the literature.

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Managerial understanding of corporate social responsibility in Nepal10.1108/IJLMA-12-2022-0272International Journal of Law and Management2023-10-23© 2023 Emerald Publishing LimitedBal Ram ChapagainPushkar BajracharyaDev Raj AdhikariDhruba Kumar GautamInternational Journal of Law and Management6622023-10-2310.1108/IJLMA-12-2022-0272https://www.emerald.com/insight/content/doi/10.1108/IJLMA-12-2022-0272/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Determinants of income diversification: empirical evidence from Indian bankshttps://www.emerald.com/insight/content/doi/10.1108/IJLMA-05-2023-0113/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study aims to explore the determinants (bank-specific, industry-specific and macroeconomic) of income diversification across interest income and non-interest income as well as for non-traditional income sources (non-interest income) from 2004–2005 to 2021–2022. An unbalanced data set comprising 110 Indian commercial banks with 1480 observations is sampled in this study. Because of the bounded nature of the dependent variables (proxies of income diversification), the panel Tobit regression model is used. The findings reveal that income diversification is positively influenced by bank size, technological advancements, cost–income ratio, return on assets, market competition and inflation in the economy. However, the decision to diversify income sources is adversely impacted by the capital ratio, GDP and financial intermediation ratio. Moreover, factors such as asset quality (loan loss provisions) and liquidity ratio do not directly influence the diversification strategies in the Indian banking industry. The present study uses an extensive set of variables to provide insights into key factors for bank managers, regulators and policymakers to consider before developing diversification strategies. To the best of the authors’ knowledge, this is the first study to examine the various bank-specific and macroeconomic determinants that affect income diversification in the Indian banking sector. The current study also investigates new variables such as technological advancements and a market concentration index for measuring competition, which have not been investigated in existing literature concerning bank income diversification in the Indian context.Determinants of income diversification: empirical evidence from Indian banks
Nidhi Thakur, Sangeeta Arora
International Journal of Law and Management, Vol. 66, No. 2, pp.195-215

This study aims to explore the determinants (bank-specific, industry-specific and macroeconomic) of income diversification across interest income and non-interest income as well as for non-traditional income sources (non-interest income) from 2004–2005 to 2021–2022.

An unbalanced data set comprising 110 Indian commercial banks with 1480 observations is sampled in this study. Because of the bounded nature of the dependent variables (proxies of income diversification), the panel Tobit regression model is used.

The findings reveal that income diversification is positively influenced by bank size, technological advancements, cost–income ratio, return on assets, market competition and inflation in the economy. However, the decision to diversify income sources is adversely impacted by the capital ratio, GDP and financial intermediation ratio. Moreover, factors such as asset quality (loan loss provisions) and liquidity ratio do not directly influence the diversification strategies in the Indian banking industry.

The present study uses an extensive set of variables to provide insights into key factors for bank managers, regulators and policymakers to consider before developing diversification strategies.

To the best of the authors’ knowledge, this is the first study to examine the various bank-specific and macroeconomic determinants that affect income diversification in the Indian banking sector. The current study also investigates new variables such as technological advancements and a market concentration index for measuring competition, which have not been investigated in existing literature concerning bank income diversification in the Indian context.

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Determinants of income diversification: empirical evidence from Indian banks10.1108/IJLMA-05-2023-0113International Journal of Law and Management2023-10-25© 2023 Emerald Publishing LimitedNidhi ThakurSangeeta AroraInternational Journal of Law and Management6622023-10-2510.1108/IJLMA-05-2023-0113https://www.emerald.com/insight/content/doi/10.1108/IJLMA-05-2023-0113/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
A win-win situation: uncovering the relationship between CSR reporting and financial performance in Indian companieshttps://www.emerald.com/insight/content/doi/10.1108/IJLMA-05-2023-0126/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study aims to evaluate the relationship of corporate social responsibility (CSR) reporting with the financial performance of firms using various market and accounting-based parameters in a developing economy, India. The study uses content analysis to develop a CSR reporting index for the Indian firms listed on the Bombay Stock Exchange. The two-step system generalized methods of moments has been used for the estimation of the panel data. The results from the study suggest that the CSR reporting-based activities of the firms may impact the financial performance of the firms, but at the same time, the need of the hour is to create awareness among the investors and market players so that they realize the relevance of CSR reporting, which can further improve other dimensions of financial performance as well. The study relies on Tobin’s Q and return on assets while measuring financial performance, though there are various other parameters that can be used to gauge the performance. The outcomes of this study have practical implications for the practitioners as well as policymakers, incentivizing them to integrate CSR aspects into their decision-making frameworks. To the best of the authors’ knowledge, this is the first Indian study to develop a unique index for CSR reporting and linking it with financial performance. This study shall assist the researchers in broadening the scope of CSR studies in India and can be used to draw a systematic comparison with developed nations.A win-win situation: uncovering the relationship between CSR reporting and financial performance in Indian companies
Shubham Singhania, Akshita Arora, Varda Sardana
International Journal of Law and Management, Vol. 66, No. 2, pp.216-235

This study aims to evaluate the relationship of corporate social responsibility (CSR) reporting with the financial performance of firms using various market and accounting-based parameters in a developing economy, India.

The study uses content analysis to develop a CSR reporting index for the Indian firms listed on the Bombay Stock Exchange. The two-step system generalized methods of moments has been used for the estimation of the panel data.

The results from the study suggest that the CSR reporting-based activities of the firms may impact the financial performance of the firms, but at the same time, the need of the hour is to create awareness among the investors and market players so that they realize the relevance of CSR reporting, which can further improve other dimensions of financial performance as well.

The study relies on Tobin’s Q and return on assets while measuring financial performance, though there are various other parameters that can be used to gauge the performance. The outcomes of this study have practical implications for the practitioners as well as policymakers, incentivizing them to integrate CSR aspects into their decision-making frameworks.

To the best of the authors’ knowledge, this is the first Indian study to develop a unique index for CSR reporting and linking it with financial performance. This study shall assist the researchers in broadening the scope of CSR studies in India and can be used to draw a systematic comparison with developed nations.

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A win-win situation: uncovering the relationship between CSR reporting and financial performance in Indian companies10.1108/IJLMA-05-2023-0126International Journal of Law and Management2023-11-20© 2023 Emerald Publishing LimitedShubham SinghaniaAkshita AroraVarda SardanaInternational Journal of Law and Management6622023-11-2010.1108/IJLMA-05-2023-0126https://www.emerald.com/insight/content/doi/10.1108/IJLMA-05-2023-0126/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Nexus between mandatory ESG disclosure regulation and abnormal stock returns: a study of an emerging economyhttps://www.emerald.com/insight/content/doi/10.1108/IJLMA-07-2023-0154/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study aims to study the response of the stock market to the announcement of compulsory environmental, social and governance (ESG) disclosure regulation in the context of the Indian economy – one of the largest emerging economies. The study also examines the role of carbon sensitivity and pre-ESG disclosure. Daily stock price data of 940 listed companies has been collected for 276 trading days to compute abnormal returns. The current study is based on event study methodology to analyze the announcement effect of disclosure regulations. Furthermore, to check the robustness of results, cross-sectional regression has been applied to correct for potential heterogeneity. Results of the event study signify that the equity share market has reacted positively and significantly to the mandatory ESG disclosure regulation. Furthermore, the study also confirms the mitigating role of carbon sensitivity and pre-ESG disclosure as carbon nonsensitive (non predisclosure) firms have witnessed a more intense effect of regulation as compared to sensitive (predisclosed) corporations. Current findings assist managers in understanding investor perception toward nonfinancial disclosures. Corporate managers can use disclosure as a tool to enhance the firm value and reduce information asymmetry by providing relevant information. Furthermore, policymakers can use the findings of present research to disseminate the advantages of adopting ESG disclosure practices thereby improving the transparency and governance among business firms. To the best of the author’s knowledge, this study is the first to provide empirical evidence on the market response to compulsory ESG disclosure framework in the emerging context of India. Furthermore, considering the infancy stage of ESG research, the present research contributes to the body of knowledge by empirically testing the disclosure theories.Nexus between mandatory ESG disclosure regulation and abnormal stock returns: a study of an emerging economy
Rajesh Desai
International Journal of Law and Management, Vol. 66, No. 2, pp.236-258

This study aims to study the response of the stock market to the announcement of compulsory environmental, social and governance (ESG) disclosure regulation in the context of the Indian economy – one of the largest emerging economies. The study also examines the role of carbon sensitivity and pre-ESG disclosure.

Daily stock price data of 940 listed companies has been collected for 276 trading days to compute abnormal returns. The current study is based on event study methodology to analyze the announcement effect of disclosure regulations. Furthermore, to check the robustness of results, cross-sectional regression has been applied to correct for potential heterogeneity.

Results of the event study signify that the equity share market has reacted positively and significantly to the mandatory ESG disclosure regulation. Furthermore, the study also confirms the mitigating role of carbon sensitivity and pre-ESG disclosure as carbon nonsensitive (non predisclosure) firms have witnessed a more intense effect of regulation as compared to sensitive (predisclosed) corporations.

Current findings assist managers in understanding investor perception toward nonfinancial disclosures. Corporate managers can use disclosure as a tool to enhance the firm value and reduce information asymmetry by providing relevant information. Furthermore, policymakers can use the findings of present research to disseminate the advantages of adopting ESG disclosure practices thereby improving the transparency and governance among business firms.

To the best of the author’s knowledge, this study is the first to provide empirical evidence on the market response to compulsory ESG disclosure framework in the emerging context of India. Furthermore, considering the infancy stage of ESG research, the present research contributes to the body of knowledge by empirically testing the disclosure theories.

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Nexus between mandatory ESG disclosure regulation and abnormal stock returns: a study of an emerging economy10.1108/IJLMA-07-2023-0154International Journal of Law and Management2023-11-20© 2023 Emerald Publishing LimitedRajesh DesaiInternational Journal of Law and Management6622023-11-2010.1108/IJLMA-07-2023-0154https://www.emerald.com/insight/content/doi/10.1108/IJLMA-07-2023-0154/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Governance with relationship between entrepreneurship and economic growth in Palestinehttps://www.emerald.com/insight/content/doi/10.1108/IJLMA-06-2023-0142/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe purpose of this study is to examine mediating role of public sector governance in the relationship between entrepreneurship and economic growth in the Palestinian context during the years 2005–2020. The necessary data were collected from the World Bank website and the annual financial reports of the Palestinian Monetary Authority. To achieve the study’s objectives, the researcher used content analysis method and regression model. There is an effect of some dimensions of entrepreneurship (starting a business, obtaining credit, women starting a business) and public sector governance with dimensions (voice and accountability, political stability and absence of violence, effectiveness of government performance, organizational quality, the rule of law and control of corruption) on economic growth. In addition, there is no mediating effect of public sector governance in the relationship between entrepreneurship and economic growth. The study helps in enhancing the elements of entrepreneurship by evaluating public governance in Palestine. It also offers future researchers a comprehensive vision that encourages Palestinian economic growth. The paper contributes to showing the reality of public governance indicators for the Palestinian context and the amount of support for entrepreneurial activities indicators that affect economic growth. Trying to activate cooperation mechanisms between government institutions and entrepreneurial institutions to adopt creative projects and ideas, especially for women, needs to focus on activating the principles of public sector governance in addition to facilitating administrative and financial procedures to start commercial projects in a way that enhances economic growth with the need to achieve the highest level of public sector governance indicators.Governance with relationship between entrepreneurship and economic growth in Palestine
Bahaa Subhi Abdel Latif Awwad
International Journal of Law and Management, Vol. 66, No. 2, pp.259-287

The purpose of this study is to examine mediating role of public sector governance in the relationship between entrepreneurship and economic growth in the Palestinian context during the years 2005–2020.

The necessary data were collected from the World Bank website and the annual financial reports of the Palestinian Monetary Authority. To achieve the study’s objectives, the researcher used content analysis method and regression model.

There is an effect of some dimensions of entrepreneurship (starting a business, obtaining credit, women starting a business) and public sector governance with dimensions (voice and accountability, political stability and absence of violence, effectiveness of government performance, organizational quality, the rule of law and control of corruption) on economic growth. In addition, there is no mediating effect of public sector governance in the relationship between entrepreneurship and economic growth.

The study helps in enhancing the elements of entrepreneurship by evaluating public governance in Palestine. It also offers future researchers a comprehensive vision that encourages Palestinian economic growth.

The paper contributes to showing the reality of public governance indicators for the Palestinian context and the amount of support for entrepreneurial activities indicators that affect economic growth.

Trying to activate cooperation mechanisms between government institutions and entrepreneurial institutions to adopt creative projects and ideas, especially for women, needs to focus on activating the principles of public sector governance in addition to facilitating administrative and financial procedures to start commercial projects in a way that enhances economic growth with the need to achieve the highest level of public sector governance indicators.

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Governance with relationship between entrepreneurship and economic growth in Palestine10.1108/IJLMA-06-2023-0142International Journal of Law and Management2023-11-27© 2023 Emerald Publishing LimitedBahaa Subhi Abdel Latif AwwadInternational Journal of Law and Management6622023-11-2710.1108/IJLMA-06-2023-0142https://www.emerald.com/insight/content/doi/10.1108/IJLMA-06-2023-0142/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Exploring the impact of patient internet usage on patient–physician interaction, satisfaction and revisit intention: a comprehensive studyhttps://www.emerald.com/insight/content/doi/10.1108/IJLMA-09-2023-0202/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe ubiquity of the internet has extended immense informational power to patients around the world who previously had abysmal knowledge about the disease they are suffering from. With a large amount of information in their hands, these educated and well-informed patients are cultivating deeper relationships and engagement with their physicians through meaningful interactions. This study aims to investigate the influence of patients’ internet usage and their interactions on their intentions to revisit and foster relationships with their physicians. A survey-based questionnaire was administered at four government hospitals in Pune, involving a sample size of 400. The study intends to use structural equation modelling (SEM) to examine the hypothesized relationships identified within the research analysis. The findings of this study indicate that patients report higher levels of satisfaction and intention to revisit when they have a strong interaction with their physician. This study provides valuable inputs to the hospital authorities and health-care-related policy makers. This study also contributes to the overall body of literature on health care information system, behavioural aspects of patients and doctors as well as other health-care-related staffs in hospitals. The study adds values to the overall body of literature for both hospital information system, patient interaction and health care policy. To date, no research has examined the association between patient–physician interactions conducted through internet channels and subsequent behavioural intentions. Moreover, the study investigates the behavioural aspects of patients and health-care staffs, which adds value towards the body of knowledge in the extant literature.Exploring the impact of patient internet usage on patient–physician interaction, satisfaction and revisit intention: a comprehensive study
Preeti Kamboj, Amit Kumar Agrawal, Sheshadri Chatterjee, Zahid Hussain, Sanjay Misra
International Journal of Law and Management, Vol. 66, No. 2, pp.288-302

The ubiquity of the internet has extended immense informational power to patients around the world who previously had abysmal knowledge about the disease they are suffering from. With a large amount of information in their hands, these educated and well-informed patients are cultivating deeper relationships and engagement with their physicians through meaningful interactions. This study aims to investigate the influence of patients’ internet usage and their interactions on their intentions to revisit and foster relationships with their physicians.

A survey-based questionnaire was administered at four government hospitals in Pune, involving a sample size of 400. The study intends to use structural equation modelling (SEM) to examine the hypothesized relationships identified within the research analysis.

The findings of this study indicate that patients report higher levels of satisfaction and intention to revisit when they have a strong interaction with their physician.

This study provides valuable inputs to the hospital authorities and health-care-related policy makers. This study also contributes to the overall body of literature on health care information system, behavioural aspects of patients and doctors as well as other health-care-related staffs in hospitals.

The study adds values to the overall body of literature for both hospital information system, patient interaction and health care policy. To date, no research has examined the association between patient–physician interactions conducted through internet channels and subsequent behavioural intentions. Moreover, the study investigates the behavioural aspects of patients and health-care staffs, which adds value towards the body of knowledge in the extant literature.

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Exploring the impact of patient internet usage on patient–physician interaction, satisfaction and revisit intention: a comprehensive study10.1108/IJLMA-09-2023-0202International Journal of Law and Management2023-11-27© 2023 Emerald Publishing LimitedPreeti KambojAmit Kumar AgrawalSheshadri ChatterjeeZahid HussainSanjay MisraInternational Journal of Law and Management6622023-11-2710.1108/IJLMA-09-2023-0202https://www.emerald.com/insight/content/doi/10.1108/IJLMA-09-2023-0202/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Taking the edge of ostracism – a slow death: from socio-legal perspectivehttps://www.emerald.com/insight/content/doi/10.1108/IJLMA-01-2024-0011/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestFirst, with real-life examples and current research, this study aims to demonstrate the existence of various forms of ostracism (linguistic, gender, social and workplace). Second, following the “need-threat model,” this research addresses the previously unaddressed topic of coping with, reducing, mitigating or curbing workplace ostracism. Moreover, the researchers also proposed a “multiplying effect model” of ostracism. Data was gathered from 199 service sector employees. The NVivo software is used for the thematic analysis of qualitative data(suggestions) gathered using open ended question on how to mitigate/reduce/curb ostracism. The results generated were the suggestive measures, which were further categorized under three major themes: individual, society and organizational. The measures to reduce, mitigate and stop the practices of workplace ostracism can be initiated on all these three levels. This is the only study that addresses the subject of decreasing, alleviating or eliminating workplace ostracism and explains the compounding effect of ostracism by suggesting a multiplying effect model. The study will pique the interest of the government and legislators to propose legal measures to prevent ostracism and achieve sustainable development goals (gender equality and reduced inequalities. The study’s practical, social, theoretical and managerial utility are discussed in the implications section.Taking the edge of ostracism – a slow death: from socio-legal perspective
Swati Chaudhury, Aditi Gupta, Kiran Nair, Apoorva Vats, Ranjan Chaudhuri, Zahid Hussain, Sheshadri Chatterjee
International Journal of Law and Management, Vol. ahead-of-print, No. ahead-of-print, pp.-

First, with real-life examples and current research, this study aims to demonstrate the existence of various forms of ostracism (linguistic, gender, social and workplace). Second, following the “need-threat model,” this research addresses the previously unaddressed topic of coping with, reducing, mitigating or curbing workplace ostracism. Moreover, the researchers also proposed a “multiplying effect model” of ostracism.

Data was gathered from 199 service sector employees. The NVivo software is used for the thematic analysis of qualitative data(suggestions) gathered using open ended question on how to mitigate/reduce/curb ostracism.

The results generated were the suggestive measures, which were further categorized under three major themes: individual, society and organizational. The measures to reduce, mitigate and stop the practices of workplace ostracism can be initiated on all these three levels.

This is the only study that addresses the subject of decreasing, alleviating or eliminating workplace ostracism and explains the compounding effect of ostracism by suggesting a multiplying effect model. The study will pique the interest of the government and legislators to propose legal measures to prevent ostracism and achieve sustainable development goals (gender equality and reduced inequalities. The study’s practical, social, theoretical and managerial utility are discussed in the implications section.

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Taking the edge of ostracism – a slow death: from socio-legal perspective10.1108/IJLMA-01-2024-0011International Journal of Law and Management2024-02-26© 2024 Emerald Publishing LimitedSwati ChaudhuryAditi GuptaKiran NairApoorva VatsRanjan ChaudhuriZahid HussainSheshadri ChatterjeeInternational Journal of Law and Managementahead-of-printahead-of-print2024-02-2610.1108/IJLMA-01-2024-0011https://www.emerald.com/insight/content/doi/10.1108/IJLMA-01-2024-0011/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited
Examining the adverse impact of social media: development of a theoretical model using conspiracy theory from socio-legal perspectivehttps://www.emerald.com/insight/content/doi/10.1108/IJLMA-02-2024-0045/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe purpose of this study is to develop a model for investigating the sharing of harmful messages by employees using social media using the conspiracy theory from a socio-legal perspective. This study also examines the moderating role of different demographic parameters such as age, gender and education toward sharing harmful messages using social media. Using the conspiracy theory and social impact theory as the foundation of this study, the authors developed theoretical model and validated it using the structural equation modeling technique with 342 participants from various organizations across Europe and Asia. The study also used different statistical measures to understand the demographic impacts toward sharing harmful messages. It was found that epistemic, existential and social motives significantly and positively influence employees’ inappropriate message-sharing and seeking behavior, which in turn influences them to share harmful messages on social media. The study also indicates that there are some moderating impacts of employee demography toward sharing harmful messages using social media platforms. This study investigates the antecedents of sharing harmful messages using social media by employees. The present study could be useful for the organizations leaders as well as policymakers and legal fraternity. The study uses a limited number of feedback to validate the model. Also, this is a cross-sectional study which is another limitation of this study. This study has proposed and validated a theoretical model by using the conspiracy theory as well as the social impact theory which is unique. Moreover, this study adds value to the existing literature on the harmful impacts of social media and its societal impacts. Besides, the validated model of this study has a high explanatory power which is another uniqueness of this study.Examining the adverse impact of social media: development of a theoretical model using conspiracy theory from socio-legal perspective
Sheshadri Chatterjee, Demetris Vrontis, Zahid Hussain, Gianpaolo Basile, Rosario Bianco
International Journal of Law and Management, Vol. ahead-of-print, No. ahead-of-print, pp.-

The purpose of this study is to develop a model for investigating the sharing of harmful messages by employees using social media using the conspiracy theory from a socio-legal perspective. This study also examines the moderating role of different demographic parameters such as age, gender and education toward sharing harmful messages using social media.

Using the conspiracy theory and social impact theory as the foundation of this study, the authors developed theoretical model and validated it using the structural equation modeling technique with 342 participants from various organizations across Europe and Asia. The study also used different statistical measures to understand the demographic impacts toward sharing harmful messages.

It was found that epistemic, existential and social motives significantly and positively influence employees’ inappropriate message-sharing and seeking behavior, which in turn influences them to share harmful messages on social media. The study also indicates that there are some moderating impacts of employee demography toward sharing harmful messages using social media platforms.

This study investigates the antecedents of sharing harmful messages using social media by employees. The present study could be useful for the organizations leaders as well as policymakers and legal fraternity. The study uses a limited number of feedback to validate the model. Also, this is a cross-sectional study which is another limitation of this study.

This study has proposed and validated a theoretical model by using the conspiracy theory as well as the social impact theory which is unique. Moreover, this study adds value to the existing literature on the harmful impacts of social media and its societal impacts. Besides, the validated model of this study has a high explanatory power which is another uniqueness of this study.

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Examining the adverse impact of social media: development of a theoretical model using conspiracy theory from socio-legal perspective10.1108/IJLMA-02-2024-0045International Journal of Law and Management2024-03-29© 2024 Emerald Publishing LimitedSheshadri ChatterjeeDemetris VrontisZahid HussainGianpaolo BasileRosario BiancoInternational Journal of Law and Managementahead-of-printahead-of-print2024-03-2910.1108/IJLMA-02-2024-0045https://www.emerald.com/insight/content/doi/10.1108/IJLMA-02-2024-0045/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited
Reconciliation and settlement in the anti-privatization strike: a case study of power supply sector in Maharashtra, Indiahttps://www.emerald.com/insight/content/doi/10.1108/IJLMA-04-2023-0070/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis paper aims to study the motives that led to conflict between two groups – Employees of state-owned power distribution companies and the Government – over permitting parallel licensing to a private company for power distribution services in selected areas of the Maharashtra state in India. The study also seeks to comprehend the reconciliation process and the role of leadership in thwarting the strike that could have impacted common citizens. The research is built on a case-based approach to analyze the pre- and poststrike environment along with the impact of the power shortage during the few hours of the strike. A semi-structured interview method wherein government and employee union representatives were interviewed to understand their version of the incident is used. Related literature, reports and news were reviewed to realize the impacts and consequences of similar situations in the past. The strike was called off within a few hours with the intervention of state government to resolve the issue, promising the union the government’s intention not to privatize but to invest INR 500bn in the three government companies. The parallel licensing may impact government-owned power distribution companies as well as customers in the future. It will pave the way for lessons related to such incidence where the Government and the Unions are at loggerheads over issues like privatization or ownership of the company and help the involved and other parties to seek a viable solution. The role of resilient leadership demonstrated by both parties led to a win-win solution within a few hours of the strike. The paper is a case study on an issue that is very contemporary; the role of leadership and its swiftness in decision-making that led to a solution to a very complex situation is something that was not done earlier in the context of the State vs Union issue.Reconciliation and settlement in the anti-privatization strike: a case study of power supply sector in Maharashtra, India
Sujoy Sen, Sanjeev Kadam, Reshma Nair
International Journal of Law and Management, Vol. ahead-of-print, No. ahead-of-print, pp.-

This paper aims to study the motives that led to conflict between two groups – Employees of state-owned power distribution companies and the Government – over permitting parallel licensing to a private company for power distribution services in selected areas of the Maharashtra state in India. The study also seeks to comprehend the reconciliation process and the role of leadership in thwarting the strike that could have impacted common citizens.

The research is built on a case-based approach to analyze the pre- and poststrike environment along with the impact of the power shortage during the few hours of the strike. A semi-structured interview method wherein government and employee union representatives were interviewed to understand their version of the incident is used. Related literature, reports and news were reviewed to realize the impacts and consequences of similar situations in the past.

The strike was called off within a few hours with the intervention of state government to resolve the issue, promising the union the government’s intention not to privatize but to invest INR 500bn in the three government companies. The parallel licensing may impact government-owned power distribution companies as well as customers in the future.

It will pave the way for lessons related to such incidence where the Government and the Unions are at loggerheads over issues like privatization or ownership of the company and help the involved and other parties to seek a viable solution. The role of resilient leadership demonstrated by both parties led to a win-win solution within a few hours of the strike.

The paper is a case study on an issue that is very contemporary; the role of leadership and its swiftness in decision-making that led to a solution to a very complex situation is something that was not done earlier in the context of the State vs Union issue.

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Reconciliation and settlement in the anti-privatization strike: a case study of power supply sector in Maharashtra, India10.1108/IJLMA-04-2023-0070International Journal of Law and Management2024-02-16© 2024 Emerald Publishing LimitedSujoy SenSanjeev KadamReshma NairInternational Journal of Law and Managementahead-of-printahead-of-print2024-02-1610.1108/IJLMA-04-2023-0070https://www.emerald.com/insight/content/doi/10.1108/IJLMA-04-2023-0070/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited
The IFRS adoption, corporate tax avoidance and the moderating effect of family ownershiphttps://www.emerald.com/insight/content/doi/10.1108/IJLMA-06-2023-0135/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis paper aims to examine the influence of the International Financial Reporting Standards (IFRS) adoption on corporate tax avoidance (CTA). In addition, this study aims to explore whether family ownership moderates the impact of IFRS adoption on CTA. The authors used a sample of 1,856 firms from various countries around the world, covering the period between 2010 and 2022. To estimate the proposed econometric models, the authors applied both fixed and random effects regression methods. The present findings show that IFRS adoption has a negative impact on CTA, as measured by the effective tax rate and book-tax differences. This negative impact is more pronounced in “common law” countries than in “civil law countries.” Additionally, the authors found that family ownership plays a moderating role by positively affecting the impact of IFRS adoption on CTA. The findings have practical, regulatory and academic implications for fostering accountability and fairness in taxation. This study suggests that implementing IFRS reduces tax avoidance and emphasizes the need for firms to evaluate the implications of IFRS adoption on their tax-planning strategies. It highlights the importance of aligning financial reporting practices with international standards to enhance transparency and minimize tax avoidance opportunities. The differential impact of IFRS adoption between “common law” and “civil law” countries underscores the role of legal and regulatory frameworks. In addition, family ownership plays a significant role in shaping tax-planning strategies. From an academic perspective, this research provides a foundation for further exploration into the relationship between IFRS adoption and tax avoidance. The existing literature has predominantly concentrated on examining the effect of IFRS adoption on CTA, and the empirical findings have been inconsistent. This study introduces a novel perspective by considering the moderating influence of family ownership in determining the impact of IFRS adoption on CTA.The IFRS adoption, corporate tax avoidance and the moderating effect of family ownership
Salma Chakroun, Anis Ben Amar
International Journal of Law and Management, Vol. ahead-of-print, No. ahead-of-print, pp.-

This paper aims to examine the influence of the International Financial Reporting Standards (IFRS) adoption on corporate tax avoidance (CTA). In addition, this study aims to explore whether family ownership moderates the impact of IFRS adoption on CTA.

The authors used a sample of 1,856 firms from various countries around the world, covering the period between 2010 and 2022. To estimate the proposed econometric models, the authors applied both fixed and random effects regression methods.

The present findings show that IFRS adoption has a negative impact on CTA, as measured by the effective tax rate and book-tax differences. This negative impact is more pronounced in “common law” countries than in “civil law countries.” Additionally, the authors found that family ownership plays a moderating role by positively affecting the impact of IFRS adoption on CTA.

The findings have practical, regulatory and academic implications for fostering accountability and fairness in taxation. This study suggests that implementing IFRS reduces tax avoidance and emphasizes the need for firms to evaluate the implications of IFRS adoption on their tax-planning strategies. It highlights the importance of aligning financial reporting practices with international standards to enhance transparency and minimize tax avoidance opportunities. The differential impact of IFRS adoption between “common law” and “civil law” countries underscores the role of legal and regulatory frameworks. In addition, family ownership plays a significant role in shaping tax-planning strategies. From an academic perspective, this research provides a foundation for further exploration into the relationship between IFRS adoption and tax avoidance.

The existing literature has predominantly concentrated on examining the effect of IFRS adoption on CTA, and the empirical findings have been inconsistent. This study introduces a novel perspective by considering the moderating influence of family ownership in determining the impact of IFRS adoption on CTA.

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The IFRS adoption, corporate tax avoidance and the moderating effect of family ownership10.1108/IJLMA-06-2023-0135International Journal of Law and Management2024-03-13© 2024 Emerald Publishing LimitedSalma ChakrounAnis Ben AmarInternational Journal of Law and Managementahead-of-printahead-of-print2024-03-1310.1108/IJLMA-06-2023-0135https://www.emerald.com/insight/content/doi/10.1108/IJLMA-06-2023-0135/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited
The moderating effect of tax risk on the relationship between tax avoidance and firm risk: empirical evidence in the French contexthttps://www.emerald.com/insight/content/doi/10.1108/IJLMA-06-2023-0140/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis paper aims to study the impact of tax avoidance on corporate risk. It also examines the moderating impact of tax risk on the relationship between tax avoidance and firm risk. Based on available information in the DATASTREAM database about a sample of French firms listed in the CAC 40 from 2010 to 2022, the study uses the feasible generalized least squares method to investigate the impact of tax avoidance on firm risk and the moderating impact of tax risk. To check the robustness of our results, the authors changed the measurement of variables to identify potential biases and they significantly mitigated the endogeneity concerns using instrumental variable regression. Additional estimations were performed, first by using book-tax differences (BTD) and its components, i.e. temporary and permanent, and second by retesting hypotheses of years before the outbreak of the corona virus disease 2019 (COVID-19) pandemic. The results show that tax avoidance negatively affects the firm risk while tax risk has a positive effect on firm risk. More importantly, tax risk moderates the negative impact of tax avoidance on the firm risk. When tax avoidance is associated with a high level of tax risk, it leads to a high firm risk. Accordingly, tax avoidance should be considered in conjunction with tax risk when studying the effect put on the firm risk. Further analyses indicate that tax risk moderates the negative relationship between permanent BTD and firm risk. The major limitation of this study is that it focuses only on French-listed firms, which make it difficult to generalize the results. Furthermore, the authors did not introduce governance variables into our models. An effective governance system and transparent information can reduce some of the perverse effects of risky tax avoidance by reducing the tax avoidance costs. The obtained results are of great interest to researchers who need to include the tax risk concept in their examination of the tax avoidance impacts. The results are useful for investors wishing to make sound decisions regarding risky tax avoidance practices. Furthermore, the results may signal the need for French policymakers to make more efforts to reduce risky tax avoidance activities that are harmful to investors. They must enforce the existence and the reporting of a tax risk management strategy by firms. This study contributes to the growing body of literature on the tax avoidance effects with a special focus on firm risk. This study provides the first French evidence of the role of tax risk in the relationship between tax avoidance and firm risk.The moderating effect of tax risk on the relationship between tax avoidance and firm risk: empirical evidence in the French context
Mouna Guedrib, Fatma Bougacha
International Journal of Law and Management, Vol. ahead-of-print, No. ahead-of-print, pp.-

This paper aims to study the impact of tax avoidance on corporate risk. It also examines the moderating impact of tax risk on the relationship between tax avoidance and firm risk.

Based on available information in the DATASTREAM database about a sample of French firms listed in the CAC 40 from 2010 to 2022, the study uses the feasible generalized least squares method to investigate the impact of tax avoidance on firm risk and the moderating impact of tax risk. To check the robustness of our results, the authors changed the measurement of variables to identify potential biases and they significantly mitigated the endogeneity concerns using instrumental variable regression. Additional estimations were performed, first by using book-tax differences (BTD) and its components, i.e. temporary and permanent, and second by retesting hypotheses of years before the outbreak of the corona virus disease 2019 (COVID-19) pandemic.

The results show that tax avoidance negatively affects the firm risk while tax risk has a positive effect on firm risk. More importantly, tax risk moderates the negative impact of tax avoidance on the firm risk. When tax avoidance is associated with a high level of tax risk, it leads to a high firm risk. Accordingly, tax avoidance should be considered in conjunction with tax risk when studying the effect put on the firm risk. Further analyses indicate that tax risk moderates the negative relationship between permanent BTD and firm risk.

The major limitation of this study is that it focuses only on French-listed firms, which make it difficult to generalize the results. Furthermore, the authors did not introduce governance variables into our models. An effective governance system and transparent information can reduce some of the perverse effects of risky tax avoidance by reducing the tax avoidance costs. The obtained results are of great interest to researchers who need to include the tax risk concept in their examination of the tax avoidance impacts.

The results are useful for investors wishing to make sound decisions regarding risky tax avoidance practices. Furthermore, the results may signal the need for French policymakers to make more efforts to reduce risky tax avoidance activities that are harmful to investors. They must enforce the existence and the reporting of a tax risk management strategy by firms.

This study contributes to the growing body of literature on the tax avoidance effects with a special focus on firm risk. This study provides the first French evidence of the role of tax risk in the relationship between tax avoidance and firm risk.

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The moderating effect of tax risk on the relationship between tax avoidance and firm risk: empirical evidence in the French context10.1108/IJLMA-06-2023-0140International Journal of Law and Management2024-02-08© 2024 Emerald Publishing LimitedMouna GuedribFatma BougachaInternational Journal of Law and Managementahead-of-printahead-of-print2024-02-0810.1108/IJLMA-06-2023-0140https://www.emerald.com/insight/content/doi/10.1108/IJLMA-06-2023-0140/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited
Understanding challenges of GDPR implementation in business enterprises: a systematic literature reviewhttps://www.emerald.com/insight/content/doi/10.1108/IJLMA-08-2023-0170/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe general data protection regulation (GDPR) was designed to address privacy challenges posed by globalisation and rapid technological advancements; however, its implementation has also introduced new hurdles for companies. This study aims to analyse and synthesise the existing literature that focuses on challenges of GDPR implementation in business enterprises, while also outlining the directions for future research. The methodology of this review follows the preferred reporting items for systematic reviews and meta-analysis guidelines. It uses an extensive search strategy across Scopus and Web of Science databases, rigorously applying inclusion and exclusion criteria, yielding a detailed analysis of 16 selected studies that concentrate on GDPR implementation challenges in business organisations. The findings indicate a predominant use of conceptual study methodologies in prior research, often limited to specific countries and technology-driven sectors. There is also an inclination towards exploring GDPR challenges within small and medium enterprises, while larger enterprises remain comparatively unexplored. Additionally, further investigation is needed to understand the implications of emerging technologies on GDPR compliance. This study’s limitations include reliance of the search strategy on two databases, potential exclusion of relevant research, limited existing literature on GDPR implementation challenges in business context and possible influence of diverse methodologies and contexts of previous studies on generalisability of the findings. The originality of this review lies in its exclusive focus on analysing GDPR implementation challenges within the business context, coupled with a fresh categorisation of these challenges into technical, legal, organisational, and regulatory dimensions.Understanding challenges of GDPR implementation in business enterprises: a systematic literature review
Yelena Smirnova, Victoriano Travieso-Morales
International Journal of Law and Management, Vol. ahead-of-print, No. ahead-of-print, pp.-

The general data protection regulation (GDPR) was designed to address privacy challenges posed by globalisation and rapid technological advancements; however, its implementation has also introduced new hurdles for companies. This study aims to analyse and synthesise the existing literature that focuses on challenges of GDPR implementation in business enterprises, while also outlining the directions for future research.

The methodology of this review follows the preferred reporting items for systematic reviews and meta-analysis guidelines. It uses an extensive search strategy across Scopus and Web of Science databases, rigorously applying inclusion and exclusion criteria, yielding a detailed analysis of 16 selected studies that concentrate on GDPR implementation challenges in business organisations.

The findings indicate a predominant use of conceptual study methodologies in prior research, often limited to specific countries and technology-driven sectors. There is also an inclination towards exploring GDPR challenges within small and medium enterprises, while larger enterprises remain comparatively unexplored. Additionally, further investigation is needed to understand the implications of emerging technologies on GDPR compliance.

This study’s limitations include reliance of the search strategy on two databases, potential exclusion of relevant research, limited existing literature on GDPR implementation challenges in business context and possible influence of diverse methodologies and contexts of previous studies on generalisability of the findings.

The originality of this review lies in its exclusive focus on analysing GDPR implementation challenges within the business context, coupled with a fresh categorisation of these challenges into technical, legal, organisational, and regulatory dimensions.

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Understanding challenges of GDPR implementation in business enterprises: a systematic literature review10.1108/IJLMA-08-2023-0170International Journal of Law and Management2024-01-18© 2024 Emerald Publishing LimitedYelena SmirnovaVictoriano Travieso-MoralesInternational Journal of Law and Managementahead-of-printahead-of-print2024-01-1810.1108/IJLMA-08-2023-0170https://www.emerald.com/insight/content/doi/10.1108/IJLMA-08-2023-0170/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited
Blockchain-based governance models in e-government: a comprehensive framework for legal, technical, ethical and security considerationshttps://www.emerald.com/insight/content/doi/10.1108/IJLMA-08-2023-0172/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study aims to evaluate blockchain as an e-government governance model. It assesses its alignment with legal frameworks, emphasizing robustness against disruptions and adherence to existing laws. The paper explores blockchain’s potential in e-government, focusing on legal, ethical and governance aspects. It conducts an in-depth analysis of blockchain’s integration into data governance, emphasizing legal compliance and resilient security protocols. The study comprehensively evaluates blockchain’s implementation, covering privacy, interoperability, consensus mechanisms, scalability and regulatory alignment. It highlights governance’s critical role in ensuring legal compliance within blockchain paradigms. Ethical and legal concerns arising from blockchain adoption remain unresolved. The study underscores how blockchain challenges its core principles of anonymity and decentralization in e-government settings. The framework outlined offers potential for diverse technological environments, albeit raising ethical and legal queries. It emphasizes governance’s pivotal role in achieving legal compliance in blockchain adoption. Blockchain’s impact on legal and ethical facets necessitates further exploration to align with its core principles while addressing governance in e-government settings. This study presents a robust framework for assessing blockchain’s viability in e-government, emphasizing legal compliance, despite ethical and legal intricacies that challenge its fundamental principles.Blockchain-based governance models in e-government: a comprehensive framework for legal, technical, ethical and security considerations
Ghulam Mustafa, Waqas Rafiq, Naveed Jhamat, Zeeshan Arshad, Farhana Aziz Rana
International Journal of Law and Management, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study aims to evaluate blockchain as an e-government governance model. It assesses its alignment with legal frameworks, emphasizing robustness against disruptions and adherence to existing laws.

The paper explores blockchain’s potential in e-government, focusing on legal, ethical and governance aspects. It conducts an in-depth analysis of blockchain’s integration into data governance, emphasizing legal compliance and resilient security protocols.

The study comprehensively evaluates blockchain’s implementation, covering privacy, interoperability, consensus mechanisms, scalability and regulatory alignment. It highlights governance’s critical role in ensuring legal compliance within blockchain paradigms.

Ethical and legal concerns arising from blockchain adoption remain unresolved. The study underscores how blockchain challenges its core principles of anonymity and decentralization in e-government settings.

The framework outlined offers potential for diverse technological environments, albeit raising ethical and legal queries. It emphasizes governance’s pivotal role in achieving legal compliance in blockchain adoption.

Blockchain’s impact on legal and ethical facets necessitates further exploration to align with its core principles while addressing governance in e-government settings.

This study presents a robust framework for assessing blockchain’s viability in e-government, emphasizing legal compliance, despite ethical and legal intricacies that challenge its fundamental principles.

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Blockchain-based governance models in e-government: a comprehensive framework for legal, technical, ethical and security considerations10.1108/IJLMA-08-2023-0172International Journal of Law and Management2024-03-22© 2024 Emerald Publishing LimitedGhulam MustafaWaqas RafiqNaveed JhamatZeeshan ArshadFarhana Aziz RanaInternational Journal of Law and Managementahead-of-printahead-of-print2024-03-2210.1108/IJLMA-08-2023-0172https://www.emerald.com/insight/content/doi/10.1108/IJLMA-08-2023-0172/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited
Digital market and its adequacy of merger assessment in Indonesian business competition lawhttps://www.emerald.com/insight/content/doi/10.1108/IJLMA-08-2023-0185/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study aims to analyze the development of digital market characteristics particularly focusing on how the strategic choices of platforms are not fully reflected in pricing. In addition, the implications for the development of theories of harm are investigated to explore the necessity of a relevant market definition in assessing infringement and evaluating the adequacy of Indonesian competition law. This study is a legal analysis that uses statutory approaches, cases, comparative law and the development of theories of harm in digital mergers. The case approach is conducted by analyzing three cases decided by the Indonesia Business Competition Supervisory Commission. This approach provides insight into the response of Komisi Pengawas Persaingan Usaha concerning the merger and acquisition cases in the digital era as well as the provision of different analyses in conventional markets. However, competition can be potentially damaged in digital markets and a comparative law approach is taken by analyzing digital merger cases decided by authorities in other countries. Results reveal that the digital market has created a “relevant market” that is challenging and blurred due to multi-sided network effects and consumer data usage characteristics. Platform-based enterprises’ prices fluctuate due to the digital market’s network effect and consumer data statistics. Smartphone prices depend on the number of apps and consumer data. Neoclassical theory focusing on product markets and location applied in Indonesia must be revised to establish a relevant digital economy market. To evaluate digital mergers, new harm theories are needed. The merger should also protect consumer data. Law Number 27 of 2022 on Personal Data Protection and Government Regulation on the Implementation of Electronic Systems and Transactions protects online consumers, a basic step in due diligence for digital mergers. The Indonesian Government should promptly strengthen the notion of “relevant markets” in the digital economy, which could lead to fair business competition violations like big data control. Notify partners or digital merger participants of the accessibility of sensitive data like transaction history and user location. The development of digital market characteristics has implications for developing theories of harm in digital markets. Indonesian competition law needs to develop such theories of harm to analyze the potential for anticompetitive digital mergers in the digital economy era.Digital market and its adequacy of merger assessment in Indonesian business competition law
Sukarmi Sukarmi, Kukuh Tejomurti, Udin Silalahi
International Journal of Law and Management, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study aims to analyze the development of digital market characteristics particularly focusing on how the strategic choices of platforms are not fully reflected in pricing. In addition, the implications for the development of theories of harm are investigated to explore the necessity of a relevant market definition in assessing infringement and evaluating the adequacy of Indonesian competition law.

This study is a legal analysis that uses statutory approaches, cases, comparative law and the development of theories of harm in digital mergers. The case approach is conducted by analyzing three cases decided by the Indonesia Business Competition Supervisory Commission. This approach provides insight into the response of Komisi Pengawas Persaingan Usaha concerning the merger and acquisition cases in the digital era as well as the provision of different analyses in conventional markets. However, competition can be potentially damaged in digital markets and a comparative law approach is taken by analyzing digital merger cases decided by authorities in other countries.

Results reveal that the digital market has created a “relevant market” that is challenging and blurred due to multi-sided network effects and consumer data usage characteristics. Platform-based enterprises’ prices fluctuate due to the digital market’s network effect and consumer data statistics. Smartphone prices depend on the number of apps and consumer data. Neoclassical theory focusing on product markets and location applied in Indonesia must be revised to establish a relevant digital economy market. To evaluate digital mergers, new harm theories are needed. The merger should also protect consumer data. Law Number 27 of 2022 on Personal Data Protection and Government Regulation on the Implementation of Electronic Systems and Transactions protects online consumers, a basic step in due diligence for digital mergers. The Indonesian Government should promptly strengthen the notion of “relevant markets” in the digital economy, which could lead to fair business competition violations like big data control. Notify partners or digital merger participants of the accessibility of sensitive data like transaction history and user location.

The development of digital market characteristics has implications for developing theories of harm in digital markets. Indonesian competition law needs to develop such theories of harm to analyze the potential for anticompetitive digital mergers in the digital economy era.

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Digital market and its adequacy of merger assessment in Indonesian business competition law10.1108/IJLMA-08-2023-0185International Journal of Law and Management2024-03-21© 2024 Emerald Publishing LimitedSukarmi SukarmiKukuh TejomurtiUdin SilalahiInternational Journal of Law and Managementahead-of-printahead-of-print2024-03-2110.1108/IJLMA-08-2023-0185https://www.emerald.com/insight/content/doi/10.1108/IJLMA-08-2023-0185/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited
Examining the complexities of binding international law on international organisationshttps://www.emerald.com/insight/content/doi/10.1108/IJLMA-08-2023-0186/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis paper aims to discuss the positioning of international organisations (IOs) in the realm of international law. It proposes a more robust approach, arguing IOs have legal obligations akin to states to the extent which could be fulfilled by them. This paper suggests making IOs parties to international treaties like the International Covenant on Civil and Political Rights (ICCPR), International Covenant on Economic Social and Cultural Rights (ICESCR) and Geneva Convention 1949 to codify their international responsibilities. In addition, it proposes amending multilateral treaties to grant IOs membership and create binding legal obligations for them, thereby enhancing the overall legal framework for IOs. The paper opted for qualitative analytical approach of research by referring to international treaties and scholarly papers. The authors have evaluated the bindingness of international law on IOs. The authors argue that jus cogens and customary international law are equally binding on IOs. However, treaties could only be binding on IOs to the extent of their consent. The authors have assessed prior violations of IOs. The authors argue that, to prevent such violations by IOs, creating obligations is the first step. Second, amendments are required in the existing international treaties that reflect the foundations of international humanitarian and international human rights law like the Geneva Convention 1949, ICCPR, and ICESCR, to permit IOs to join these treaties, resulting in binding international legal obligations. The most prominent assertion of this paper is that IOs as subjects of international law are bound by the principles of international law, including treaty law with consent, customary international laws, general principles of law and peremptory norms. To fulfil these obligations, a regime needs to be introduced wherein amendment is made in treaties to make IOs parties to them and structuring the law on responsibility for IOs. Considering the multifaceted nature of IO, the role it performs in contemporary times requires them to be bound by rules of international law just like states. There is a need to settle their position in global governance and give them more teeth to understand and fulfil their duties to ensure smooth functioning in the long run. The paper fulfils an identified gap in the positioning of IOs under the international law.Examining the complexities of binding international law on international organisations
Samiksha Mathur, Sonu Agarwal
International Journal of Law and Management, Vol. ahead-of-print, No. ahead-of-print, pp.-

This paper aims to discuss the positioning of international organisations (IOs) in the realm of international law. It proposes a more robust approach, arguing IOs have legal obligations akin to states to the extent which could be fulfilled by them. This paper suggests making IOs parties to international treaties like the International Covenant on Civil and Political Rights (ICCPR), International Covenant on Economic Social and Cultural Rights (ICESCR) and Geneva Convention 1949 to codify their international responsibilities. In addition, it proposes amending multilateral treaties to grant IOs membership and create binding legal obligations for them, thereby enhancing the overall legal framework for IOs.

The paper opted for qualitative analytical approach of research by referring to international treaties and scholarly papers.

The authors have evaluated the bindingness of international law on IOs. The authors argue that jus cogens and customary international law are equally binding on IOs. However, treaties could only be binding on IOs to the extent of their consent. The authors have assessed prior violations of IOs. The authors argue that, to prevent such violations by IOs, creating obligations is the first step. Second, amendments are required in the existing international treaties that reflect the foundations of international humanitarian and international human rights law like the Geneva Convention 1949, ICCPR, and ICESCR, to permit IOs to join these treaties, resulting in binding international legal obligations.

The most prominent assertion of this paper is that IOs as subjects of international law are bound by the principles of international law, including treaty law with consent, customary international laws, general principles of law and peremptory norms. To fulfil these obligations, a regime needs to be introduced wherein amendment is made in treaties to make IOs parties to them and structuring the law on responsibility for IOs. Considering the multifaceted nature of IO, the role it performs in contemporary times requires them to be bound by rules of international law just like states. There is a need to settle their position in global governance and give them more teeth to understand and fulfil their duties to ensure smooth functioning in the long run.

The paper fulfils an identified gap in the positioning of IOs under the international law.

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Examining the complexities of binding international law on international organisations10.1108/IJLMA-08-2023-0186International Journal of Law and Management2024-02-29© 2024 Emerald Publishing LimitedSamiksha MathurSonu AgarwalInternational Journal of Law and Managementahead-of-printahead-of-print2024-02-2910.1108/IJLMA-08-2023-0186https://www.emerald.com/insight/content/doi/10.1108/IJLMA-08-2023-0186/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited
Assessing the need for a deregulation of the insurance sector of Mauritius to combat money laundering: a comparative study with Singapore and UKhttps://www.emerald.com/insight/content/doi/10.1108/IJLMA-08-2023-0188/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe purpose of this paper is to assess the current legal framework on money laundering control in the insurance sector. Essentially, this examination is premised on the interrogation of whether it is still appropriate for Mauritius to apply such stringent, opaque and unyielding Anti-Money Laundering/Combating Financing of Terrorism norms and rules on general insurance when developed nations such as the UK and Singapore have done away with them for a more effective combat against money laundering. It would also be assessed why the financial services commission (FSC) is not able to draw inspiration from its British and Singaporean counterparts in fighting money laundering more effectively. This paper uses the doctrinal legal research methodology which is colloquially described as “black-letter law” approach. It is backed up by a contextual legal analysis that is based on an analysis of relevant legal provisions. It relies ground experience from the insurance industry through the experience of the authors. A comparative approach is used with Singapore and the UK as case studies given that there are significant commonalities to the Mauritian jurisdiction as well as useful differences. It is observed that a move towards a de-regulation of the legal framework on money laundering in the insurance sector with a more relaxed approach is more effective for the Mauritian insurance sector. Evidence is drawn from the Singaporean and British models. A re-structuring of the FSC of Mauritius is also warranted for such an approach to be adopted. This paper is among the first academic contribution that proposes a de-regulation and the adoption of a relaxed approach of and by the Mauritian Insurance Industry for a more effective combat against money laundering. It serves as a legal foundational basis for further research in this direction.Assessing the need for a deregulation of the insurance sector of Mauritius to combat money laundering: a comparative study with Singapore and UK
Bhavna Mahadew
International Journal of Law and Management, Vol. ahead-of-print, No. ahead-of-print, pp.-

The purpose of this paper is to assess the current legal framework on money laundering control in the insurance sector. Essentially, this examination is premised on the interrogation of whether it is still appropriate for Mauritius to apply such stringent, opaque and unyielding Anti-Money Laundering/Combating Financing of Terrorism norms and rules on general insurance when developed nations such as the UK and Singapore have done away with them for a more effective combat against money laundering. It would also be assessed why the financial services commission (FSC) is not able to draw inspiration from its British and Singaporean counterparts in fighting money laundering more effectively.

This paper uses the doctrinal legal research methodology which is colloquially described as “black-letter law” approach. It is backed up by a contextual legal analysis that is based on an analysis of relevant legal provisions. It relies ground experience from the insurance industry through the experience of the authors. A comparative approach is used with Singapore and the UK as case studies given that there are significant commonalities to the Mauritian jurisdiction as well as useful differences.

It is observed that a move towards a de-regulation of the legal framework on money laundering in the insurance sector with a more relaxed approach is more effective for the Mauritian insurance sector. Evidence is drawn from the Singaporean and British models. A re-structuring of the FSC of Mauritius is also warranted for such an approach to be adopted.

This paper is among the first academic contribution that proposes a de-regulation and the adoption of a relaxed approach of and by the Mauritian Insurance Industry for a more effective combat against money laundering. It serves as a legal foundational basis for further research in this direction.

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Assessing the need for a deregulation of the insurance sector of Mauritius to combat money laundering: a comparative study with Singapore and UK10.1108/IJLMA-08-2023-0188International Journal of Law and Management2024-01-29© 2024 Emerald Publishing LimitedBhavna MahadewInternational Journal of Law and Managementahead-of-printahead-of-print2024-01-2910.1108/IJLMA-08-2023-0188https://www.emerald.com/insight/content/doi/10.1108/IJLMA-08-2023-0188/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited
What is the insolvency regime applied under Shariah for Islamic banks?https://www.emerald.com/insight/content/doi/10.1108/IJLMA-08-2023-0191/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study aims to develop a comprehensive insolvency model tailored to Islamic banks, ensuring alignment with Shariah principles throughout pre-insolvency, bankruptcy and post-bankruptcy stages. The research adopts a qualitative research method, using a desktop research approach. Primary sources and secondary sources are examined to gather information and draw conclusions. This study presents a comprehensive insolvency model designed for Islamic banks, rooted in Shariah principles. The model covers pre-insolvency, bankruptcy (taflis) and post-bankruptcy stages, incorporating key Shariah parameters to ensure adherence to Islamic finance principles. It addresses challenges such as adapting to dynamic financial landscapes and varying interpretations of Shariah principles. Notably, the model recognizes the separate legal personality of Islamic banks and emphasizes transparency, fairness and compliance with religious obligations. In the post-bankruptcy stage, directors are urged to voluntarily settle remaining debts, aligning with ethical and Shariah-compliant standards. The study contributes to the stability and growth of Shariah-compliant financial systems by extending insolvency principles to Islamic banks, providing a foundation for future research and policymaking specific to this context.What is the insolvency regime applied under Shariah for Islamic banks?
Ahmad Hidayat bin Md Nor, Aishath Muneeza, Magda Mohsin
International Journal of Law and Management, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study aims to develop a comprehensive insolvency model tailored to Islamic banks, ensuring alignment with Shariah principles throughout pre-insolvency, bankruptcy and post-bankruptcy stages.

The research adopts a qualitative research method, using a desktop research approach. Primary sources and secondary sources are examined to gather information and draw conclusions.

This study presents a comprehensive insolvency model designed for Islamic banks, rooted in Shariah principles. The model covers pre-insolvency, bankruptcy (taflis) and post-bankruptcy stages, incorporating key Shariah parameters to ensure adherence to Islamic finance principles. It addresses challenges such as adapting to dynamic financial landscapes and varying interpretations of Shariah principles. Notably, the model recognizes the separate legal personality of Islamic banks and emphasizes transparency, fairness and compliance with religious obligations. In the post-bankruptcy stage, directors are urged to voluntarily settle remaining debts, aligning with ethical and Shariah-compliant standards.

The study contributes to the stability and growth of Shariah-compliant financial systems by extending insolvency principles to Islamic banks, providing a foundation for future research and policymaking specific to this context.

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What is the insolvency regime applied under Shariah for Islamic banks?10.1108/IJLMA-08-2023-0191International Journal of Law and Management2024-04-01© 2024 Emerald Publishing LimitedAhmad Hidayat bin Md NorAishath MuneezaMagda MohsinInternational Journal of Law and Managementahead-of-printahead-of-print2024-04-0110.1108/IJLMA-08-2023-0191https://www.emerald.com/insight/content/doi/10.1108/IJLMA-08-2023-0191/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited
The impact of corporate social responsibility on firm financial performance: does corporate governance matter?https://www.emerald.com/insight/content/doi/10.1108/IJLMA-09-2023-0203/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study investigated how corporate social responsibility (CSR) impacts financial performance (FP) and examined the moderated role of corporate governance (CG). In particular, this paper aims to empirically examine the impact of CG on the relationship between CSR and FP. This study was based on a sample of 200 firms over 2010/2021. The direct and moderating effects were tested by using multiple regression techniques. The empirical findings indicated that companies with higher levels of CSR reporting invested more effectively than companies with lower CSR reporting levels. The empirical analysis suggested two main findings: CSR has a significant effect on FP, and this relationship depends on CG practices. This research presents new evidence that improves the discussion around CSR involvement and FP in French firms. Then, this research shows that CG positively moderates the impact of CSR on corporate FP. These findings may be of interest to academic researchers, practitioners and regulators interested in discovering dividend policies, FP and CSR. The findings may interest different stakeholders, policymakers and regulatory bodies interested in enhancing CG initiatives to strengthen CSR because it suggests implementing a broadly accepted framework of good CG practices to meet the demand for greater transparency and accountability.The impact of corporate social responsibility on firm financial performance: does corporate governance matter?
Manel Gharbi, Anis Jarboui
International Journal of Law and Management, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study investigated how corporate social responsibility (CSR) impacts financial performance (FP) and examined the moderated role of corporate governance (CG). In particular, this paper aims to empirically examine the impact of CG on the relationship between CSR and FP.

This study was based on a sample of 200 firms over 2010/2021. The direct and moderating effects were tested by using multiple regression techniques.

The empirical findings indicated that companies with higher levels of CSR reporting invested more effectively than companies with lower CSR reporting levels. The empirical analysis suggested two main findings: CSR has a significant effect on FP, and this relationship depends on CG practices. This research presents new evidence that improves the discussion around CSR involvement and FP in French firms. Then, this research shows that CG positively moderates the impact of CSR on corporate FP.

These findings may be of interest to academic researchers, practitioners and regulators interested in discovering dividend policies, FP and CSR. The findings may interest different stakeholders, policymakers and regulatory bodies interested in enhancing CG initiatives to strengthen CSR because it suggests implementing a broadly accepted framework of good CG practices to meet the demand for greater transparency and accountability.

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The impact of corporate social responsibility on firm financial performance: does corporate governance matter?10.1108/IJLMA-09-2023-0203International Journal of Law and Management2024-02-29© 2024 Emerald Publishing LimitedManel GharbiAnis JarbouiInternational Journal of Law and Managementahead-of-printahead-of-print2024-02-2910.1108/IJLMA-09-2023-0203https://www.emerald.com/insight/content/doi/10.1108/IJLMA-09-2023-0203/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited
Intellectual capital efficiency: the missing piece to your corporate governance and profitability puzzlehttps://www.emerald.com/insight/content/doi/10.1108/IJLMA-09-2023-0205/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe purpose of this study is to evaluate the synergy of corporate governance (CG) with intellectual capital (IC) and to assess the moderating effect of profitability indicator on the aforementioned synergy using agency theory, resource-based view theory and theory of financial ratios as conceptual frameworks. The sample includes 72 companies with a six-year data set drawn from the KSE 100 Index companies of Pakistan. In addition, the study adopts Pulic’s model to compute the efficiency of IC. The research uses fixed-effect panel regression for analysis and two-stage least squares regression (2SLS) to address endogeneity issues in the estimation process. The results showcased that chief executive officer duality possesses negligible impact on IC efficiency (ICE), while independent directors, audit committees and board size tend to attain a strong association with IC. Moreover, it postulates that the moderation of return on equity strengthens the path between all governance components and ICE significantly. The research uses a 2SLS regression analysis to explore how CG practices take hold on the effectiveness of IC in Pakistan while taking into account the moderating impact of profitability. The findings add to the body of knowledge on the value that strong governance practices have on businesses and society.Intellectual capital efficiency: the missing piece to your corporate governance and profitability puzzle
Misal Ijaz, Abeera Zarrar, Farah Naz
International Journal of Law and Management, Vol. ahead-of-print, No. ahead-of-print, pp.-

The purpose of this study is to evaluate the synergy of corporate governance (CG) with intellectual capital (IC) and to assess the moderating effect of profitability indicator on the aforementioned synergy using agency theory, resource-based view theory and theory of financial ratios as conceptual frameworks.

The sample includes 72 companies with a six-year data set drawn from the KSE 100 Index companies of Pakistan. In addition, the study adopts Pulic’s model to compute the efficiency of IC. The research uses fixed-effect panel regression for analysis and two-stage least squares regression (2SLS) to address endogeneity issues in the estimation process.

The results showcased that chief executive officer duality possesses negligible impact on IC efficiency (ICE), while independent directors, audit committees and board size tend to attain a strong association with IC. Moreover, it postulates that the moderation of return on equity strengthens the path between all governance components and ICE significantly.

The research uses a 2SLS regression analysis to explore how CG practices take hold on the effectiveness of IC in Pakistan while taking into account the moderating impact of profitability. The findings add to the body of knowledge on the value that strong governance practices have on businesses and society.

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Intellectual capital efficiency: the missing piece to your corporate governance and profitability puzzle10.1108/IJLMA-09-2023-0205International Journal of Law and Management2024-02-20© 2024 Emerald Publishing LimitedMisal IjazAbeera ZarrarFarah NazInternational Journal of Law and Managementahead-of-printahead-of-print2024-02-2010.1108/IJLMA-09-2023-0205https://www.emerald.com/insight/content/doi/10.1108/IJLMA-09-2023-0205/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited
Are materiality determination practices evolving in the wake of increasing legislation on sustainability reporting? Findings from EU pharmaceutical companies’ reportshttps://www.emerald.com/insight/content/doi/10.1108/IJLMA-09-2023-0221/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis paper aims to contribute to the development of the European Union (EU) regulatory environment for sustainability reporting by analyzing how materiality is defined in the Non-Financial Reporting Directive (NFRD) and Corporate Sustainability Reporting Directive (CSRD) and by examining the added value and challenges of legalizing reporting and materiality requirements from both regulatory and practical company perspectives. It provides insights on whether this is reflected by EU pharmaceutical companies and to what extent companies report information on their materiality analysis process. Doctrinal analysis was used to examine regulatory instruments. Qualitative document analysis was used to analyze companies’ reports. The added value and challenges were examined using a governance approach. It focused on legalizing reporting and materiality requirements, with a brief extension to corporate management and organization studies. Materiality has evolved from a vague concept in the NFRD toward double materiality in the CSRD. This was reflected by the industry, but reports revealed inconsistencies in materiality definitions and reported information. Challenges include lack of self-reflection and company-centric perceptions of materiality. Companies should explain how they identify relevant stakeholders and how input is considered in decision-making. Managers must consider how they conduct materiality assessments to meet society’s expectations. The underlying processes should be explained to increase the credibility of reports. Sustainability reporting should be seen as a corporate governance tool. This work contributes to the literature on materiality in sustainability reporting and to the debate on the need for a holistic, society-centric approach to enhance the sustainability of companies.Are materiality determination practices evolving in the wake of increasing legislation on sustainability reporting? Findings from EU pharmaceutical companies’ reports
Mirella Miettinen
International Journal of Law and Management, Vol. ahead-of-print, No. ahead-of-print, pp.-

This paper aims to contribute to the development of the European Union (EU) regulatory environment for sustainability reporting by analyzing how materiality is defined in the Non-Financial Reporting Directive (NFRD) and Corporate Sustainability Reporting Directive (CSRD) and by examining the added value and challenges of legalizing reporting and materiality requirements from both regulatory and practical company perspectives. It provides insights on whether this is reflected by EU pharmaceutical companies and to what extent companies report information on their materiality analysis process.

Doctrinal analysis was used to examine regulatory instruments. Qualitative document analysis was used to analyze companies’ reports. The added value and challenges were examined using a governance approach. It focused on legalizing reporting and materiality requirements, with a brief extension to corporate management and organization studies.

Materiality has evolved from a vague concept in the NFRD toward double materiality in the CSRD. This was reflected by the industry, but reports revealed inconsistencies in materiality definitions and reported information. Challenges include lack of self-reflection and company-centric perceptions of materiality. Companies should explain how they identify relevant stakeholders and how input is considered in decision-making.

Managers must consider how they conduct materiality assessments to meet society’s expectations. The underlying processes should be explained to increase the credibility of reports. Sustainability reporting should be seen as a corporate governance tool.

This work contributes to the literature on materiality in sustainability reporting and to the debate on the need for a holistic, society-centric approach to enhance the sustainability of companies.

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Are materiality determination practices evolving in the wake of increasing legislation on sustainability reporting? Findings from EU pharmaceutical companies’ reports10.1108/IJLMA-09-2023-0221International Journal of Law and Management2024-01-30© 2024 Emerald Publishing LimitedMirella MiettinenInternational Journal of Law and Managementahead-of-printahead-of-print2024-01-3010.1108/IJLMA-09-2023-0221https://www.emerald.com/insight/content/doi/10.1108/IJLMA-09-2023-0221/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited
Examining the advantages and disadvantages of international franchising and licensing from both legal and business perspectives within GCC regionhttps://www.emerald.com/insight/content/doi/10.1108/IJLMA-10-2023-0228/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study aims to provides the insights on the advantages and disadvantages of international franchising and licensing from the perspectives of legal and business considerations in the Gulf Cooperation Council (GCC). Using a quantitative research approach, the authors conducted a survey with 150 business owners and franchisees in the GCC and analyzed the data using descriptive statistics, structural equation modeling and frequency analysis. The findings reveal that while international franchising and licensing offer significant benefits for business expansion and revenue growth, they also pose risks related to legal compliance, cultural differences and intellectual property protection. Indeed, the results of this study provide valuable insights into the advantages and disadvantages of international franchising and licensing in the GCC from both legal and business perspectives. There is limited research on the legal and business perspectives of international franchising and licensing in the GCC. This study contributes to the literature by providing a comprehensive analysis of the legal and business perspectives of international franchising and licensing in the GCC.Examining the advantages and disadvantages of international franchising and licensing from both legal and business perspectives within GCC region
Anas A. Al Bakri, Nazzal M. Kisswani
International Journal of Law and Management, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study aims to provides the insights on the advantages and disadvantages of international franchising and licensing from the perspectives of legal and business considerations in the Gulf Cooperation Council (GCC).

Using a quantitative research approach, the authors conducted a survey with 150 business owners and franchisees in the GCC and analyzed the data using descriptive statistics, structural equation modeling and frequency analysis.

The findings reveal that while international franchising and licensing offer significant benefits for business expansion and revenue growth, they also pose risks related to legal compliance, cultural differences and intellectual property protection. Indeed, the results of this study provide valuable insights into the advantages and disadvantages of international franchising and licensing in the GCC from both legal and business perspectives.

There is limited research on the legal and business perspectives of international franchising and licensing in the GCC. This study contributes to the literature by providing a comprehensive analysis of the legal and business perspectives of international franchising and licensing in the GCC.

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Examining the advantages and disadvantages of international franchising and licensing from both legal and business perspectives within GCC region10.1108/IJLMA-10-2023-0228International Journal of Law and Management2024-01-23© 2024 Emerald Publishing LimitedAnas A. Al BakriNazzal M. KisswaniInternational Journal of Law and Managementahead-of-printahead-of-print2024-01-2310.1108/IJLMA-10-2023-0228https://www.emerald.com/insight/content/doi/10.1108/IJLMA-10-2023-0228/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited
Enhancing creditor decision-making in South African business rescue proceedings: a comprehensive analysis of information requirements in business rescue planshttps://www.emerald.com/insight/content/doi/10.1108/IJLMA-10-2023-0234/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestBusiness rescue, as a mechanism to aid financially distressed companies in South Africa, has received considerable academic and practical recognition. However, the business rescue plan is an overlooked and, perhaps, underdeveloped aspect of the regime. For stakeholders, this is the ultimate decision-making document. Creditors are the most influential stakeholders in business rescue proceedings owing to their voting rights. For creditors to make informed decisions and exercise their votes meaningfully, the business rescue plan should be transparent and adequately disclose relevant and reliable information. This study aims to identify creditors’ primary information needs to enhance the sufficiency and decision-usefulness of business rescue plans, not only to entice the vote of creditors but to enforce accountability from practitioners. Using a qualitative research design, semi-structured interviews were conducted with 14 executives from 10 South African financial institutions. The findings reveal that comprehensive disclosure of financial, commercial and legal information in business rescue plans was a critical antecedent for stakeholder decision-making. Additionally, leadership and social impact information were influential determinants. This study advances academic knowledge and, for practitioners, adds value to the development of business rescue plans. This can enhance creditors' confidence in supporting the rescue effort and approving the plan. This study advances academic knowledge and, for practitioners, adds value to the development of business rescue plans. This can enhance creditors' confidence in supporting the rescue effort and approving the plan. The originality of this article lies in its investigation of how creditors assess the information in BR plans as a precursor to supporting the company’s reorganisation in a creditor-friendly business rescue system such as South Africa. This study provides novel insights into the decision-making process, particularly how creditors assess BR plans, address information asymmetry and vote on the plan.Enhancing creditor decision-making in South African business rescue proceedings: a comprehensive analysis of information requirements in business rescue plans
Mamekwa Katlego Kekana, Marius Pretorius, Nicole Varela Aguiar De Abreu
International Journal of Law and Management, Vol. ahead-of-print, No. ahead-of-print, pp.-

Business rescue, as a mechanism to aid financially distressed companies in South Africa, has received considerable academic and practical recognition. However, the business rescue plan is an overlooked and, perhaps, underdeveloped aspect of the regime. For stakeholders, this is the ultimate decision-making document. Creditors are the most influential stakeholders in business rescue proceedings owing to their voting rights. For creditors to make informed decisions and exercise their votes meaningfully, the business rescue plan should be transparent and adequately disclose relevant and reliable information. This study aims to identify creditors’ primary information needs to enhance the sufficiency and decision-usefulness of business rescue plans, not only to entice the vote of creditors but to enforce accountability from practitioners.

Using a qualitative research design, semi-structured interviews were conducted with 14 executives from 10 South African financial institutions.

The findings reveal that comprehensive disclosure of financial, commercial and legal information in business rescue plans was a critical antecedent for stakeholder decision-making. Additionally, leadership and social impact information were influential determinants. This study advances academic knowledge and, for practitioners, adds value to the development of business rescue plans. This can enhance creditors' confidence in supporting the rescue effort and approving the plan.

This study advances academic knowledge and, for practitioners, adds value to the development of business rescue plans. This can enhance creditors' confidence in supporting the rescue effort and approving the plan.

The originality of this article lies in its investigation of how creditors assess the information in BR plans as a precursor to supporting the company’s reorganisation in a creditor-friendly business rescue system such as South Africa. This study provides novel insights into the decision-making process, particularly how creditors assess BR plans, address information asymmetry and vote on the plan.

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Enhancing creditor decision-making in South African business rescue proceedings: a comprehensive analysis of information requirements in business rescue plans10.1108/IJLMA-10-2023-0234International Journal of Law and Management2024-02-19© 2024 Mamekwa Katlego Kekana, Marius Pretorius and Nicole Varela Aguiar De Abreu.Mamekwa Katlego KekanaMarius PretoriusNicole Varela Aguiar De AbreuInternational Journal of Law and Managementahead-of-printahead-of-print2024-02-1910.1108/IJLMA-10-2023-0234https://www.emerald.com/insight/content/doi/10.1108/IJLMA-10-2023-0234/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Mamekwa Katlego Kekana, Marius Pretorius and Nicole Varela Aguiar De Abreu.http://creativecommons.org/licences/by/4.0/legalcode
Green banking laws and regulations in Mauritius: a comparative study with other countries’ policieshttps://www.emerald.com/insight/content/doi/10.1108/IJLMA-10-2023-0243/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestFinancial institutions, including banks, have their responsibilities to contribute towards the preservation of the environment. Green banking is an emerging concept that involves eco-friendly initiatives by banks and although Mauritius lacks a comprehensive regulatory framework for green banking, there exists a few green regulations and guidelines. Accordingly, the purpose of this study is to critically analyse the existing legal and regulatory framework on green banking in Mauritius. It is expected that this study will showcase the need for some more robust and proper green banking legal and regulatory framework in Mauritius. To achieve the research objective, a black-letter analysis is used to analyse the existing regulatory framework in Mauritius. Moreover, a comparative analysis of the current legal frameworks on green banking in countries like Bangladesh, Indonesia, Pakistan and the UK is carried out. This study recommends the establishment of a guideline or legal framework for green banking, a Sustainable Finance Policy, a legal binding framework for issuance of bonds, adoption of a Task Force on Climate-related Financial Disclosure guideline, compulsory environmental reporting and disclosures and a green standard rating. To the best of the authors’ knowledge, this research is among the first literature on green banking laws, especially in the context of a developing country being Mauritius, and it is anticipated that the findings are of use not only to academics but also to the wider community in general.Green banking laws and regulations in Mauritius: a comparative study with other countries’ policies
Ambareen Beebeejaun, Teekshna Maharoo
International Journal of Law and Management, Vol. ahead-of-print, No. ahead-of-print, pp.-

Financial institutions, including banks, have their responsibilities to contribute towards the preservation of the environment. Green banking is an emerging concept that involves eco-friendly initiatives by banks and although Mauritius lacks a comprehensive regulatory framework for green banking, there exists a few green regulations and guidelines. Accordingly, the purpose of this study is to critically analyse the existing legal and regulatory framework on green banking in Mauritius. It is expected that this study will showcase the need for some more robust and proper green banking legal and regulatory framework in Mauritius.

To achieve the research objective, a black-letter analysis is used to analyse the existing regulatory framework in Mauritius. Moreover, a comparative analysis of the current legal frameworks on green banking in countries like Bangladesh, Indonesia, Pakistan and the UK is carried out.

This study recommends the establishment of a guideline or legal framework for green banking, a Sustainable Finance Policy, a legal binding framework for issuance of bonds, adoption of a Task Force on Climate-related Financial Disclosure guideline, compulsory environmental reporting and disclosures and a green standard rating.

To the best of the authors’ knowledge, this research is among the first literature on green banking laws, especially in the context of a developing country being Mauritius, and it is anticipated that the findings are of use not only to academics but also to the wider community in general.

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Green banking laws and regulations in Mauritius: a comparative study with other countries’ policies10.1108/IJLMA-10-2023-0243International Journal of Law and Management2024-02-20© 2024 Emerald Publishing LimitedAmbareen BeebeejaunTeekshna MaharooInternational Journal of Law and Managementahead-of-printahead-of-print2024-02-2010.1108/IJLMA-10-2023-0243https://www.emerald.com/insight/content/doi/10.1108/IJLMA-10-2023-0243/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited
When the goose stops laying golden eggs: supervening loss of trust in long-term contracts under the PICChttps://www.emerald.com/insight/content/doi/10.1108/IJLMA-11-2023-0246/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe purpose of this paper is to examine the supervening loss of inter-organisational trust in long-term commercial contracts. The underlying research question is whether contract law – the legal institution regulating economic exchanges – should intervene and enable a party to a long-term commercial contract to extricate itself from a situation where a relationship of trust has broken down irretrievably. This paper uses doctrinal methodology and theoretical conceptualisation to answer the underlying research question. The legal instrument chosen for analysis purposes is the UNIDROIT Principles of International Commercial Contracts. This paper also draws on extant literature on inter-organisational trust (including conceptual and empirical studies) to support the arguments and propositions. Furthermore, this study proceeds to assess the substantive justifiability of the proposed remedial measure using four normative values: legal certainty and predictability, protection of the performance interest, economic efficiency and the preservation of the relation. The central argument put forward in this paper is the reformulation of draft Article 6.3.1 proposed by the UNIDROIT Working Group on Long-Term Contracts, which confers a novel right to terminate for a compelling reason. This paper presents a multidimensional model of inter-organisational trust that would serve as the conceptual framework for the proposed reformulation of the provision and establishes a coherent juridical basis for the legal solution that would accord with the Principles of International Commercial Contracts’ general remedial scheme. As for the normative assessment, this paper demonstrates that the proposed remedial measure would significantly promote efficient outcomes and positively serve the norms of legal certainty, protection of the performance interest and the preservation of the relation. This paper addresses the lacuna in current legal scholarship in relation to the adverse socio-economic effects following trust violation and deterioration in inter-organisational relationships. Additionally, the propositions and findings should contribute to the workings of the UNIDROIT in adopting new rules and principles that would serve the special requirements of cross-border trade.When the goose stops laying golden eggs: supervening loss of trust in long-term contracts under the PICC
Hassan Mohamed
International Journal of Law and Management, Vol. ahead-of-print, No. ahead-of-print, pp.-

The purpose of this paper is to examine the supervening loss of inter-organisational trust in long-term commercial contracts. The underlying research question is whether contract law – the legal institution regulating economic exchanges – should intervene and enable a party to a long-term commercial contract to extricate itself from a situation where a relationship of trust has broken down irretrievably.

This paper uses doctrinal methodology and theoretical conceptualisation to answer the underlying research question. The legal instrument chosen for analysis purposes is the UNIDROIT Principles of International Commercial Contracts. This paper also draws on extant literature on inter-organisational trust (including conceptual and empirical studies) to support the arguments and propositions. Furthermore, this study proceeds to assess the substantive justifiability of the proposed remedial measure using four normative values: legal certainty and predictability, protection of the performance interest, economic efficiency and the preservation of the relation.

The central argument put forward in this paper is the reformulation of draft Article 6.3.1 proposed by the UNIDROIT Working Group on Long-Term Contracts, which confers a novel right to terminate for a compelling reason. This paper presents a multidimensional model of inter-organisational trust that would serve as the conceptual framework for the proposed reformulation of the provision and establishes a coherent juridical basis for the legal solution that would accord with the Principles of International Commercial Contracts’ general remedial scheme. As for the normative assessment, this paper demonstrates that the proposed remedial measure would significantly promote efficient outcomes and positively serve the norms of legal certainty, protection of the performance interest and the preservation of the relation.

This paper addresses the lacuna in current legal scholarship in relation to the adverse socio-economic effects following trust violation and deterioration in inter-organisational relationships. Additionally, the propositions and findings should contribute to the workings of the UNIDROIT in adopting new rules and principles that would serve the special requirements of cross-border trade.

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When the goose stops laying golden eggs: supervening loss of trust in long-term contracts under the PICC10.1108/IJLMA-11-2023-0246International Journal of Law and Management2024-02-21© 2024 Emerald Publishing LimitedHassan MohamedInternational Journal of Law and Managementahead-of-printahead-of-print2024-02-2110.1108/IJLMA-11-2023-0246https://www.emerald.com/insight/content/doi/10.1108/IJLMA-11-2023-0246/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited
Key audit matters and auditing quality in the era of COVID-19 pandemic: the case of Jordanhttps://www.emerald.com/insight/content/doi/10.1108/IJLMA-11-2023-0248/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study aims to investigate the moderating effect of the COVID-19 epidemic on the relationship between key audit matter (KAM) and auditing quality. The authors use the ordinary least squares regression on data from 942 firm-year observations of Jordanian non-financial institutions across the period (2017–2022) to test the hypotheses. The authors use content analysis method to measure levels of KAM disclosure. The investigation’s findings highlight the importance of KAM disclosure in achieving audit quality in line with international standard on auditing no. 701 (ISA-701) requirements. COVID-19 is also found to have a positive relationship with audit quality, further confirming the crisis’s devastating impact on audit complexity and risks and providing evidence for the need for supplementary, high-quality audit services. Due to the correlation between KAM disclosure and increased auditor workload and responsibility, the analysis reveals that the COVID-19 factor strengthens the link between KAM disclosure and audit quality. This study has the potential to be used as a basis for the creation of a new regulation or standard regarding the reporting of unfavourable events in financial filings. This study’s findings provide standard-setters, regulators and policymakers with current empirical data on the effects of implementing ISA-701’s mandate for external auditors to provide more information on KAM. The COVID-19 crisis offers a suitable setting in which to examine the value of precautionary disclosures in times of economic uncertainty, as well as the significance of confidence interval disclosures and the role of external auditing in calming investor fears. This analysis is helpful for stakeholders, regulatory agencies, standard-setters and readers of audit reports who are curious about the current state of KAM disclosures and the implementation of ISA-701. The results may have ramifications for academia in the form of a call for more evidence expanding this data to other burgeoning fields to have a clear explanation of the real impact of reporting KAM on audit practices. To the authors’ awareness, this research is one of the few empirical studies on the effect of the COVID-19 crisis on auditing procedures, and more specifically, the effect of disclosures on KAM by external auditors on audit quality. This study’s findings represent preliminary scientific evidence linking the pandemic to business performance. Minimal research has been done on how auditors in developing nations react to pandemic investor protection and how auditors’ enlarged reporting responsibilities affect them. The vast majority of auditing studies have been conducted in a highly regulated system, so this research contributes by examining audit behaviour in a weak legal context.Key audit matters and auditing quality in the era of COVID-19 pandemic: the case of Jordan
Esraa Esam Alharasis, Abeer F. Alkhwaldi, Khaled Hussainey
International Journal of Law and Management, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study aims to investigate the moderating effect of the COVID-19 epidemic on the relationship between key audit matter (KAM) and auditing quality.

The authors use the ordinary least squares regression on data from 942 firm-year observations of Jordanian non-financial institutions across the period (2017–2022) to test the hypotheses. The authors use content analysis method to measure levels of KAM disclosure.

The investigation’s findings highlight the importance of KAM disclosure in achieving audit quality in line with international standard on auditing no. 701 (ISA-701) requirements. COVID-19 is also found to have a positive relationship with audit quality, further confirming the crisis’s devastating impact on audit complexity and risks and providing evidence for the need for supplementary, high-quality audit services. Due to the correlation between KAM disclosure and increased auditor workload and responsibility, the analysis reveals that the COVID-19 factor strengthens the link between KAM disclosure and audit quality.

This study has the potential to be used as a basis for the creation of a new regulation or standard regarding the reporting of unfavourable events in financial filings. This study’s findings provide standard-setters, regulators and policymakers with current empirical data on the effects of implementing ISA-701’s mandate for external auditors to provide more information on KAM. The COVID-19 crisis offers a suitable setting in which to examine the value of precautionary disclosures in times of economic uncertainty, as well as the significance of confidence interval disclosures and the role of external auditing in calming investor fears. This analysis is helpful for stakeholders, regulatory agencies, standard-setters and readers of audit reports who are curious about the current state of KAM disclosures and the implementation of ISA-701. The results may have ramifications for academia in the form of a call for more evidence expanding this data to other burgeoning fields to have a clear explanation of the real impact of reporting KAM on audit practices.

To the authors’ awareness, this research is one of the few empirical studies on the effect of the COVID-19 crisis on auditing procedures, and more specifically, the effect of disclosures on KAM by external auditors on audit quality. This study’s findings represent preliminary scientific evidence linking the pandemic to business performance. Minimal research has been done on how auditors in developing nations react to pandemic investor protection and how auditors’ enlarged reporting responsibilities affect them. The vast majority of auditing studies have been conducted in a highly regulated system, so this research contributes by examining audit behaviour in a weak legal context.

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Key audit matters and auditing quality in the era of COVID-19 pandemic: the case of Jordan10.1108/IJLMA-11-2023-0248International Journal of Law and Management2024-02-01© 2024 Emerald Publishing LimitedEsraa Esam AlharasisAbeer F. AlkhwaldiKhaled HussaineyInternational Journal of Law and Managementahead-of-printahead-of-print2024-02-0110.1108/IJLMA-11-2023-0248https://www.emerald.com/insight/content/doi/10.1108/IJLMA-11-2023-0248/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited
Reconnoitering the impact of corporate governance on carbon emission disclosure in an emerging settinghttps://www.emerald.com/insight/content/doi/10.1108/IJLMA-11-2023-0251/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study aims to determine the influence of corporate governance characteristics on carbon emission disclosure in an emerging economy. The study is based on S&P BSE 500 Indian firms for the period of 6 years from 2016–2017 to 2021–2022. The panel data regression models are used to gauge the association between corporate governance and carbon emission disclosure. The empirical findings of the study support the positive and significant association between board activity intensity, environment committee and carbon emission disclosure. This evinced that the board activity intensity and presence of the environment committee have a critical role in carbon emission disclosure. On the contrary, findings reveal a significant and negative relationship between board size and carbon emission disclosure. The present study provides treasured insights to regulators, policymakers, investors and corporate managers, as the study corroborates that various corporate governance characteristics exert significant influence on carbon emission disclosure. The current research work provides novel insights into corporate governance and climate change literature that good corporate governance significantly boosts the carbon emission disclosure of firms. Previous studies examining the impact of corporate governance on carbon emission disclosure ignored emerging economies. Thus, the current work explores the role of governance mechanisms on carbon emission disclosure in an emerging context. Further, to the best of the author’s knowledge, the current study is the first of its kind to investigate the role of corporate governance on carbon emission disclosure in the Indian context.Reconnoitering the impact of corporate governance on carbon emission disclosure in an emerging setting
Ankita Bedi, Balwinder Singh
International Journal of Law and Management, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study aims to determine the influence of corporate governance characteristics on carbon emission disclosure in an emerging economy.

The study is based on S&P BSE 500 Indian firms for the period of 6 years from 2016–2017 to 2021–2022. The panel data regression models are used to gauge the association between corporate governance and carbon emission disclosure.

The empirical findings of the study support the positive and significant association between board activity intensity, environment committee and carbon emission disclosure. This evinced that the board activity intensity and presence of the environment committee have a critical role in carbon emission disclosure. On the contrary, findings reveal a significant and negative relationship between board size and carbon emission disclosure.

The present study provides treasured insights to regulators, policymakers, investors and corporate managers, as the study corroborates that various corporate governance characteristics exert significant influence on carbon emission disclosure.

The current research work provides novel insights into corporate governance and climate change literature that good corporate governance significantly boosts the carbon emission disclosure of firms. Previous studies examining the impact of corporate governance on carbon emission disclosure ignored emerging economies. Thus, the current work explores the role of governance mechanisms on carbon emission disclosure in an emerging context. Further, to the best of the author’s knowledge, the current study is the first of its kind to investigate the role of corporate governance on carbon emission disclosure in the Indian context.

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Reconnoitering the impact of corporate governance on carbon emission disclosure in an emerging setting10.1108/IJLMA-11-2023-0251International Journal of Law and Management2024-03-12© 2024 Emerald Publishing LimitedAnkita BediBalwinder SinghInternational Journal of Law and Managementahead-of-printahead-of-print2024-03-1210.1108/IJLMA-11-2023-0251https://www.emerald.com/insight/content/doi/10.1108/IJLMA-11-2023-0251/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited
Legal issues of transparency and disclosure in Ethiopian state-owned enterprises: a global perspectivehttps://www.emerald.com/insight/content/doi/10.1108/IJLMA-11-2023-0256/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestEthiopia has enacted laws on transparency and disclosure of information in state-owned enterprises (SOEs). However, these laws are not strict enough, with the transparency and disclosure practices disappointing in the country. Thus, this study aims to investigate the legal framework governing transparency and disclosure in SOEs. This study uses doctrinal, qualitative and comparative approaches. Domestic legal texts are appraised based on the organization for economic co-operation and development Guideline on Corporate Governance of State-owned Enterprises, the World Bank Toolkit on Corporate Governance of State-owned Enterprises and best national practices. This approach has been further corroborated by qualitative analysis of the basic principles of transparency and disclosure. The finding reveals that the laws on transparency and disclosure do not comply with global practices and are inadequate to ensure transparency and discourse in SOEs. They fail to establish appropriate disclosure frameworks and practices at the SOE and state-ownership entity levels. They also indiscriminately subject enterprises to multiple auditing functions and conflicting responsibilities. To the author’s knowledge, this study is the first legal literature on transparency and disclosure in Ethiopian SOEs. This study assists the state as owner in reforming the laws and uplifting SOEs from their current unpleasant condition. It can also become a reference for future research.Legal issues of transparency and disclosure in Ethiopian state-owned enterprises: a global perspective
Alemayehu Yismaw Demamu
International Journal of Law and Management, Vol. ahead-of-print, No. ahead-of-print, pp.-

Ethiopia has enacted laws on transparency and disclosure of information in state-owned enterprises (SOEs). However, these laws are not strict enough, with the transparency and disclosure practices disappointing in the country. Thus, this study aims to investigate the legal framework governing transparency and disclosure in SOEs.

This study uses doctrinal, qualitative and comparative approaches. Domestic legal texts are appraised based on the organization for economic co-operation and development Guideline on Corporate Governance of State-owned Enterprises, the World Bank Toolkit on Corporate Governance of State-owned Enterprises and best national practices. This approach has been further corroborated by qualitative analysis of the basic principles of transparency and disclosure.

The finding reveals that the laws on transparency and disclosure do not comply with global practices and are inadequate to ensure transparency and discourse in SOEs. They fail to establish appropriate disclosure frameworks and practices at the SOE and state-ownership entity levels. They also indiscriminately subject enterprises to multiple auditing functions and conflicting responsibilities.

To the author’s knowledge, this study is the first legal literature on transparency and disclosure in Ethiopian SOEs. This study assists the state as owner in reforming the laws and uplifting SOEs from their current unpleasant condition. It can also become a reference for future research.

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Legal issues of transparency and disclosure in Ethiopian state-owned enterprises: a global perspective10.1108/IJLMA-11-2023-0256International Journal of Law and Management2024-02-15© 2024 Emerald Publishing LimitedAlemayehu Yismaw DemamuInternational Journal of Law and Managementahead-of-printahead-of-print2024-02-1510.1108/IJLMA-11-2023-0256https://www.emerald.com/insight/content/doi/10.1108/IJLMA-11-2023-0256/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited
The fight for our personal data: analyzing the economics of data and privacy on digital platformshttps://www.emerald.com/insight/content/doi/10.1108/IJLMA-12-2022-0258/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestPersonal data is a powerful tool. The more someone know about us, the more power they got over us. But who will control the most of our personal data? Does the government and the big tech really care about our personal data? This paper aims to look at data practices, data-related policy making as well as its economic consequences in the context of emerging economies. Using qualitative methods such as literature review and analysis of numerous government documents, this paper inquires into the dynamics in the use of data by the business sectors, explains how data governance can add value to the business sectors while ensuring customers’ data privacy protection based on the data governance mechanism framework and details what it takes. Using the case of Indonesian recent development on data privacy regulation, this paper describes the problems and threats to personal data protection. The advent of latest computing and mobile technology is shifting power relations between the governments, the big tech, as well as the end users. To conclude, the strategy and policy recommendations for implementing data privacy protection are also presented. This paper provides a timely synthesis of data practices in the context of developing countries, particularly in relation to policy making and economic consequences. This paper also identifies and shares several promising future research ideas.The fight for our personal data: analyzing the economics of data and privacy on digital platforms
Nofie Iman
International Journal of Law and Management, Vol. ahead-of-print, No. ahead-of-print, pp.-

Personal data is a powerful tool. The more someone know about us, the more power they got over us. But who will control the most of our personal data? Does the government and the big tech really care about our personal data? This paper aims to look at data practices, data-related policy making as well as its economic consequences in the context of emerging economies.

Using qualitative methods such as literature review and analysis of numerous government documents, this paper inquires into the dynamics in the use of data by the business sectors, explains how data governance can add value to the business sectors while ensuring customers’ data privacy protection based on the data governance mechanism framework and details what it takes.

Using the case of Indonesian recent development on data privacy regulation, this paper describes the problems and threats to personal data protection. The advent of latest computing and mobile technology is shifting power relations between the governments, the big tech, as well as the end users. To conclude, the strategy and policy recommendations for implementing data privacy protection are also presented.

This paper provides a timely synthesis of data practices in the context of developing countries, particularly in relation to policy making and economic consequences. This paper also identifies and shares several promising future research ideas.

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The fight for our personal data: analyzing the economics of data and privacy on digital platforms10.1108/IJLMA-12-2022-0258International Journal of Law and Management2024-02-27© 2024 Emerald Publishing LimitedNofie ImanInternational Journal of Law and Managementahead-of-printahead-of-print2024-02-2710.1108/IJLMA-12-2022-0258https://www.emerald.com/insight/content/doi/10.1108/IJLMA-12-2022-0258/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited
Reassessing Saudi Arabia’s foreign investment laws: from protectionism to liberalizationhttps://www.emerald.com/insight/content/doi/10.1108/IJLMA-12-2023-0270/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis paper aims to examine the extent to which these reforms address the limitations of Saudi Arabia’s previous investment framework. Long viewed as a hostile environment in which to do business, the Saudi Government has enacted a broad sweep of measures aimed at restoring investor confidence in central aspects of the country’s evolving private law framework. This paper offers a timely assessment of the raft of foreign investment reforms, both legislative and regulatory, that have been introduced in Saudi Arabia over the last decade. The paper will proceed by outlining the perceived failings of the old investment regime before going on to reforms. It will consider the remaining obstacles to the flow of foreign investment in Saudi Arabia in the context of the dual forces that have historically defined the Kingdom’s ambivalent investment law regime.Reassessing Saudi Arabia’s foreign investment laws: from protectionism to liberalization
Ibrahim Mathker Saleh Alotaibi, Mohammad Omar Mohammad Alhejaili, Doaa Mohamed Ibrahim Badran, Mahmoud Abdelgawwad Abdelhady
International Journal of Law and Management, Vol. ahead-of-print, No. ahead-of-print, pp.-

This paper aims to examine the extent to which these reforms address the limitations of Saudi Arabia’s previous investment framework. Long viewed as a hostile environment in which to do business, the Saudi Government has enacted a broad sweep of measures aimed at restoring investor confidence in central aspects of the country’s evolving private law framework.

This paper offers a timely assessment of the raft of foreign investment reforms, both legislative and regulatory, that have been introduced in Saudi Arabia over the last decade.

The paper will proceed by outlining the perceived failings of the old investment regime before going on to reforms.

It will consider the remaining obstacles to the flow of foreign investment in Saudi Arabia in the context of the dual forces that have historically defined the Kingdom’s ambivalent investment law regime.

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Reassessing Saudi Arabia’s foreign investment laws: from protectionism to liberalization10.1108/IJLMA-12-2023-0270International Journal of Law and Management2024-02-16© 2024 Emerald Publishing LimitedIbrahim Mathker Saleh AlotaibiMohammad Omar Mohammad AlhejailiDoaa Mohamed Ibrahim BadranMahmoud Abdelgawwad AbdelhadyInternational Journal of Law and Managementahead-of-printahead-of-print2024-02-1610.1108/IJLMA-12-2023-0270https://www.emerald.com/insight/content/doi/10.1108/IJLMA-12-2023-0270/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited
Quality of work-life situation and effectiveness of labour laws: managerial perspectiveshttps://www.emerald.com/insight/content/doi/10.1108/IJLMA-12-2023-0271/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis paper aims to examine the current quality of work-life (QWL) situation and the effectiveness of labor laws for promoting QWL in the context of Nepalese workplaces. It uses a descriptive-interpretative-qualitative approach to analyze the responses. Information is gathered through discussions with 85 higher- and middle-level managers of large and medium-sized organizations. The majority of Nepalese organizations accept safe and healthy working conditions, social relevance of work-life, social integration in the work organization, and work and total life space as the key aspects of QWL. They have become even more critical as a result of the COVID-19 pandemic. However, they face challenges in providing employees with opportunities for continued growth and security, immediate opportunity to use and develop human capacities, adequate and fair compensation and constitutionalism in the work organization. QWL-related provisions in Labour Act, 2017, play a vital role in promoting the QWL situation. The QWL programs offer many benefits to employees’ private and working lives. The lack of such programs would undoubtedly have negative consequences for Nepalese companies. Compliance with labor laws will promote a better QWL situation at Nepalese workplaces. Only managerial perspectives are considered for examining the current situation of QWL and the effectiveness of QWL-related provisions of the Labour Act, 2017. It excludes the views of union leaders. This paper indicates that labor laws’ QWL-related provisions are effective. It also provides several policy measures for promoting a better QWL in Nepalese workplaces. This study presents QWL-related legal provisions and the actual situation at the workplaces of Nepal. It also presents the key aspects of QWL in the context of Nepal.Quality of work-life situation and effectiveness of labour laws: managerial perspectives
Prakash Shrestha, Dilip Parajuli, Bibek Raj Adhikari
International Journal of Law and Management, Vol. ahead-of-print, No. ahead-of-print, pp.-

This paper aims to examine the current quality of work-life (QWL) situation and the effectiveness of labor laws for promoting QWL in the context of Nepalese workplaces.

It uses a descriptive-interpretative-qualitative approach to analyze the responses. Information is gathered through discussions with 85 higher- and middle-level managers of large and medium-sized organizations.

The majority of Nepalese organizations accept safe and healthy working conditions, social relevance of work-life, social integration in the work organization, and work and total life space as the key aspects of QWL. They have become even more critical as a result of the COVID-19 pandemic. However, they face challenges in providing employees with opportunities for continued growth and security, immediate opportunity to use and develop human capacities, adequate and fair compensation and constitutionalism in the work organization. QWL-related provisions in Labour Act, 2017, play a vital role in promoting the QWL situation. The QWL programs offer many benefits to employees’ private and working lives. The lack of such programs would undoubtedly have negative consequences for Nepalese companies. Compliance with labor laws will promote a better QWL situation at Nepalese workplaces.

Only managerial perspectives are considered for examining the current situation of QWL and the effectiveness of QWL-related provisions of the Labour Act, 2017. It excludes the views of union leaders.

This paper indicates that labor laws’ QWL-related provisions are effective. It also provides several policy measures for promoting a better QWL in Nepalese workplaces.

This study presents QWL-related legal provisions and the actual situation at the workplaces of Nepal. It also presents the key aspects of QWL in the context of Nepal.

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Quality of work-life situation and effectiveness of labour laws: managerial perspectives10.1108/IJLMA-12-2023-0271International Journal of Law and Management2024-01-29© 2024 Emerald Publishing LimitedPrakash ShresthaDilip ParajuliBibek Raj AdhikariInternational Journal of Law and Managementahead-of-printahead-of-print2024-01-2910.1108/IJLMA-12-2023-0271https://www.emerald.com/insight/content/doi/10.1108/IJLMA-12-2023-0271/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited
Legal uncertainty of municipal bond issuance: a case study of Indonesia and Vietnamhttps://www.emerald.com/insight/content/doi/10.1108/IJLMA-12-2023-0272/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study aims to analyze the causes and implications of legal uncertainty in the issuance of conventional municipal bonds in Indonesia and to draw lessons from Vietnam’s approach in providing better legal certainty. This study adopts a normative legal method with a legislative approach and applies a comparative approach. Data sources involve primary and secondary legal materials from both Indonesia and Vietnam. The legal uncertainty is caused by a lack of coherence and consistency in legislation. Based on Vietnam’s experience, Indonesia can gain valuable insights related to providing strong legal certainty for parties involved in issuing or investing through conventional municipal bonds. This study focuses on the comparative legal analysis of conventional municipal bonds in Indonesia with Vietnam. This research provides recommendations for the refinement of legislation regarding conventional municipal bonds to the government. This study is related to legal certainty as a strategy to attract investment through municipal bonds and to ensure the municipal bond issuance process is transparent and efficient. This study provides a comparative perspective on the issuance of municipal bonds in Indonesia, with a special focus on Vietnam, emphasizing the urgency of harmonization in legal regulation and the sustainability of legal certainty.Legal uncertainty of municipal bond issuance: a case study of Indonesia and Vietnam
Benny Hutahayan, Mohamad Fadli, Satria Amiputra Amimakmur, Reka Dewantara
International Journal of Law and Management, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study aims to analyze the causes and implications of legal uncertainty in the issuance of conventional municipal bonds in Indonesia and to draw lessons from Vietnam’s approach in providing better legal certainty.

This study adopts a normative legal method with a legislative approach and applies a comparative approach. Data sources involve primary and secondary legal materials from both Indonesia and Vietnam.

The legal uncertainty is caused by a lack of coherence and consistency in legislation. Based on Vietnam’s experience, Indonesia can gain valuable insights related to providing strong legal certainty for parties involved in issuing or investing through conventional municipal bonds.

This study focuses on the comparative legal analysis of conventional municipal bonds in Indonesia with Vietnam.

This research provides recommendations for the refinement of legislation regarding conventional municipal bonds to the government.

This study is related to legal certainty as a strategy to attract investment through municipal bonds and to ensure the municipal bond issuance process is transparent and efficient.

This study provides a comparative perspective on the issuance of municipal bonds in Indonesia, with a special focus on Vietnam, emphasizing the urgency of harmonization in legal regulation and the sustainability of legal certainty.

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Legal uncertainty of municipal bond issuance: a case study of Indonesia and Vietnam10.1108/IJLMA-12-2023-0272International Journal of Law and Management2024-03-19© 2024 Emerald Publishing LimitedBenny HutahayanMohamad FadliSatria Amiputra AmimakmurReka DewantaraInternational Journal of Law and Managementahead-of-printahead-of-print2024-03-1910.1108/IJLMA-12-2023-0272https://www.emerald.com/insight/content/doi/10.1108/IJLMA-12-2023-0272/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited
Investors’ perception towards investor protection measures taken by the government of India and SEBI: an ordinal approachhttps://www.emerald.com/insight/content/doi/10.1108/IJLMA-12-2023-0276/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study aims to determine experimentally factors affecting the satisfaction of retail stock investors with various investor protection regulatory measures implemented by the Government of India and Securities and Exchange Board of India (SEBI). Also, an effort has been made to gauge the level of satisfaction of retail equities investors with the laws and guidelines developed by the Indian Government and SEBI for their invested funds. To accomplish the study’s goals, a well-structured questionnaire was created with the help of a literature review, and copies of it were filled by Punjabi retail equities investors with the aid of stockbrokers, i.e. intermediaries. Amritsar, Jalandhar, Ludhiana and Mohali-area intermediaries were chosen using a random selection procedure. Xerox copies of the questionnaire were given to the intermediaries, who were then asked to collect responses from their clients. Some intermediaries requested the researcher to sit in their offices to collect responses from their clients. Only 373 questionnaires out of 1,000 questionnaires that were provided had been received back. Only 328 copies were correctly filled by the equity investors. To conduct the analysis, 328 copies, which were fully completed, were used as data. The appropriate approaches, such as descriptives, factor analysis and ordinal regression analysis, were used to study the data. With the aid of factor analysis, four factors have been identified that influence investors’ satisfaction with various investor protection regulatory measures implemented by government and SEBI regulations, including regulations addressing primary and secondary market dealings, rules for investor awareness and protection, rules to prevent company malpractices and laws for corporate governance and investor protection. The impact of these four components on investor satisfaction has been investigated using ordinal regression analysis. The pseudo-R-square statistics for the ordinal regression model demonstrated the model’s capacity for the explanation. The findings suggested that a significant amount of the overall satisfaction score about the various investor protection measures implemented by the government/SEBI has been explained by the regression model. A study could be conducted to analyse the perspective of various stakeholders towards the disclosures made and norms followed by corporate houses. The current study may be expanded to cover the entire nation because it is only at the state level currently. It might be conceivable to examine how investments made in the retail capital market affect investors in rural areas. The influence of reforms on the functioning of stock markets could potentially be examined through another study. It could be possible to undertake a study on female investors’ knowledge about retail investment trends. The effect of digital stock trading could be examined in India. The effect of technological innovations on capital markets can be studied. This research would be extremely useful to regulators in developing policies to protect retail equities investors. Investors are required to be safeguarded and protected to deal freely in the securities market, so they should be given more freedom in terms of investor protection measures. Stock exchanges should have the potential to bring about technological advancements in trading to protect investors from any kind of financial loss. Since the government has the power to create rules and regulations to strengthen investor protection. So, this research will be extremely useful to the government. This work has societal ramifications. Because when adequate rules and regulations are in place to safeguard investors, they will be able to invest freely. Companies will use capital wisely and profitably. Companies should undertake tasks towards corporate social responsibility out of profits because corporate houses are part and parcel of society only. Many investors may lack the necessary expertise to make sound financial judgments. They might not be aware of the entire risk-reward profile of various investment options. However, they must know various investor protection measures taken by the Government of India & Securities and Exchange Board of India (SEBI) to safeguard their interests. Investors must be well-informed on the precautions to take while dealing with market intermediaries, as well as in the stock market.Investors’ perception towards investor protection measures taken by the government of India and SEBI: an ordinal approach
Jaspreet Kaur
International Journal of Law and Management, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study aims to determine experimentally factors affecting the satisfaction of retail stock investors with various investor protection regulatory measures implemented by the Government of India and Securities and Exchange Board of India (SEBI). Also, an effort has been made to gauge the level of satisfaction of retail equities investors with the laws and guidelines developed by the Indian Government and SEBI for their invested funds.

To accomplish the study’s goals, a well-structured questionnaire was created with the help of a literature review, and copies of it were filled by Punjabi retail equities investors with the aid of stockbrokers, i.e. intermediaries. Amritsar, Jalandhar, Ludhiana and Mohali-area intermediaries were chosen using a random selection procedure. Xerox copies of the questionnaire were given to the intermediaries, who were then asked to collect responses from their clients. Some intermediaries requested the researcher to sit in their offices to collect responses from their clients. Only 373 questionnaires out of 1,000 questionnaires that were provided had been received back. Only 328 copies were correctly filled by the equity investors. To conduct the analysis, 328 copies, which were fully completed, were used as data. The appropriate approaches, such as descriptives, factor analysis and ordinal regression analysis, were used to study the data.

With the aid of factor analysis, four factors have been identified that influence investors’ satisfaction with various investor protection regulatory measures implemented by government and SEBI regulations, including regulations addressing primary and secondary market dealings, rules for investor awareness and protection, rules to prevent company malpractices and laws for corporate governance and investor protection. The impact of these four components on investor satisfaction has been investigated using ordinal regression analysis. The pseudo-R-square statistics for the ordinal regression model demonstrated the model’s capacity for the explanation. The findings suggested that a significant amount of the overall satisfaction score about the various investor protection measures implemented by the government/SEBI has been explained by the regression model.

A study could be conducted to analyse the perspective of various stakeholders towards the disclosures made and norms followed by corporate houses. The current study may be expanded to cover the entire nation because it is only at the state level currently. It might be conceivable to examine how investments made in the retail capital market affect investors in rural areas. The influence of reforms on the functioning of stock markets could potentially be examined through another study. It could be possible to undertake a study on female investors’ knowledge about retail investment trends. The effect of digital stock trading could be examined in India. The effect of technological innovations on capital markets can be studied.

This research would be extremely useful to regulators in developing policies to protect retail equities investors. Investors are required to be safeguarded and protected to deal freely in the securities market, so they should be given more freedom in terms of investor protection measures. Stock exchanges should have the potential to bring about technological advancements in trading to protect investors from any kind of financial loss. Since the government has the power to create rules and regulations to strengthen investor protection. So, this research will be extremely useful to the government.

This work has societal ramifications. Because when adequate rules and regulations are in place to safeguard investors, they will be able to invest freely. Companies will use capital wisely and profitably. Companies should undertake tasks towards corporate social responsibility out of profits because corporate houses are part and parcel of society only.

Many investors may lack the necessary expertise to make sound financial judgments. They might not be aware of the entire risk-reward profile of various investment options. However, they must know various investor protection measures taken by the Government of India & Securities and Exchange Board of India (SEBI) to safeguard their interests. Investors must be well-informed on the precautions to take while dealing with market intermediaries, as well as in the stock market.

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Investors’ perception towards investor protection measures taken by the government of India and SEBI: an ordinal approach10.1108/IJLMA-12-2023-0276International Journal of Law and Management2024-03-26© 2024 Emerald Publishing LimitedJaspreet KaurInternational Journal of Law and Managementahead-of-printahead-of-print2024-03-2610.1108/IJLMA-12-2023-0276https://www.emerald.com/insight/content/doi/10.1108/IJLMA-12-2023-0276/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited