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This study aims to examine the effect of corporate governance (CG) mechanisms on financial fragility in non-financial corporations, using Nishi’s operationalization of Minsky’s financial instability hypothesis. Specifically, the study investigates the influence of board size, board independence, CEO duality and audit quality on the financial fragility of non-financial companies (NFCs).

Using a panel logit regression model, the authors analyse annual data from (66) NFCs listed on the Amman Stock Exchange, spanning over the period 2015–2021. This methodology enables us to assess the relationships between the identified CG mechanisms and the categorical proxy of financial fragility.

The findings of this study reveal that a large share of NFCs fall within Minsky’s “Ponzi” classification, indicating elevated levels of financial vulnerability. Remarkably, the analysis demonstrates that larger board sizes and the CEO-Chairman duality exacerbate financial fragility within these firms. Conversely, the study results suggest that board independence and audit quality exhibit limited effects on financial fragility. In addition, profitability, firm size and financial leverage are identified as key predictors of financial fragility.

This study adds to the current literature by using a financial fragility index grounded in Minsky’s financial instability hypothesis. The constructed index is then used to examine specific CG factors in relation to financial fragility, which offers new insights into the dynamics influencing the default exposure of NFCs. Furthermore, the study findings have direct implications for policymakers and stakeholders aiming to enhance CG practices and foster financial stability in the private sector.

This study evaluates the aesthetic perception of photovoltaic (PV) systems situated at various locations on an apartment building facade, comparing them with the original facade. It also aims to understand how aesthetic dimensions influence the perception of PV installations in diverse building locations. Moreover, it aims to create a framework that will guide for installing PV installations considering both their functionality and aesthetics.

The study uses a mixed-method approach, including qualitative and quantitative approaches. It includes a literature review and a questionnaire. 418 participants evaluated different PV-embedded facades using a Likert scale across various aesthetic variables.

The findings indicate that aesthetic perceptions of PV vary by the location of installation. It also shows that all aesthetic dimensions affect PV installation aesthetics, with location-specific preferences. For original elevation, compatibility and simplicity are given precedence over blending and coherence for windows, creativity and harmony for facades, functionality and harmony for balconies, and innovation potential and simplicity for roofs.

This study focuses on a single building type; further investigation is required to examine other building types. It also examined one PV technology with common visual properties, but future studies can examine others. Additional research is needed to compare the participating groups and the effect of their sociodemographic factors, using on-site surveys and interviews.

Few studies have investigated how PV systems affect apartment building users' architectural aesthetic perception. The results of this study make a valuable contribution to the field of sustainable architecture by providing practical guidance for architects, engineers, stakeholders, and researchers who are interested in integrating aesthetic, user-centric considerations into renewable energy solutions.