Search results

After the financial crisis of 2007–2008, the financial service industry realized that the world’s worst financial catastrophe had been caused by an age of easy money and lax monitoring. This realization led to pressure on regulators to overhaul the financial system during the Great Depression. Banks were required to make sure they implemented a variety of endogenous risk-minimization mechanisms and assume accountability for verifying the stability of the financial scheme. Innovative financial technology (FinTech) solutions arose in this more regulated environment to address – or, as one would argue, avoid – risks that arose during the financial crisis. The goal of this chapter is to examine the possible challenges and opportunities of incorporating FinTech into Islamic finance. Four services are provided by Islamic FinTech: finance, payments, advisory, and compliance. The traditional financial system is being recolonized by Islamic FinTech. FinTech adoption in Islamic finance could lead to greater financial inclusion, the solution to emergencies like COVID-19, and the achievement of Sustainable Development Goals (SDGs) for a sustainable national economy. However, there could be obstacles associated with this acceptance in the form of risk, investment, and regulatory issues. In order for FinTech companies to be innovative and address social issues that conventional financial institutions fail to address, authorities must provide a market whereby these companies can thrive without having to be acquired by major banks or focus their innovation solely on meeting the demands of these banks. Furthermore, they need to be explicit about the regulations' applicability to FinTech companies, especially with regard to how to strike a balance between being a technology company and a financial institution.

This study aims to evaluate patterns, trends and knowledge networks within social security research. By using bibliometric analysis, the research seeks to provide a comprehensive perspective on the evolution of global social security research. The purpose extends to identifying significant contributors, collaborative clusters and multifaceted issues addressed in the field.

This study uses bibliometric analysis to assess social security research trends and knowledge networks from 2015 to 2023. Using the Web of Science database, 6,152 relevant articles are analyzed. Quantitative techniques such as coauthorship network analysis, institutional productivity rankings and keyword clustering are applied for a comprehensive understanding.

The findings indicate a rising trajectory of publications in social security research, with the USA, China and Europe emerging as top contributors. Coauthorship patterns reveal collaborative clusters with focused research interests. Prominent authors emphasize key aspects like public policy, economics, health and labor dynamics related to social security. Keyword clustering identifies nine thematic clusters, ranging from inequality and poverty to retirement and disability reforms. A thematic map visualizes overarching categories, including motor themes, basic themes, niche themes and emerging themes.

This bibliometric study offers original insights into global social security research, providing a comprehensive understanding of its evolution, significant contributors and diverse thematic issues addressed. The originality lies in the application of quantitative techniques, including coauthorship network analysis and keyword clustering, to reveal collaborative patterns and thematic clusters. The study’s value extends to facilitating evidence-based decision-making for advancing the critical domain of social security through international collaboration and impactful research aligned with societal needs.

This study aims to investigate the influence of corporate governance (CG) on environmental disclosure (ED) practices within UK and US firms, addressing the contemporary challenges confronting firms in both contexts.

Using the dynamic panel regression framework of system generalised method of moment (GMM), this study analyses a sample comprising 121 FTSE and 200 S&P firms from 2010 to 2020.

The findings emphasise the dynamic nature of ED practices among UK and US firms, demonstrating their propensity to swiftly adjust to desired levels whenever deviations occur. Besides, this study identifies board independence and the frequency of board meetings as significant determinants of ED for UK firms. In contrast, for US firms, board independence and audit committee independence are found to be significant determinants of ED.

The research highlights the fundamental role played by CG in shaping how firms in the UK and the US navigate agency problems and respond to diverse stakeholder demands through ED in their annual reports. This study advocates for the promotion of robust governance systems that concurrently serve the purposes of accountability and monitoring to bridge the information expectation gap between firms and stakeholders. The findings reinforce the necessity for regulatory initiatives involving policy formulation and corporate oversight to enhance private sector awareness regarding environmental reporting practices.

This study contributes to the scarce literature on the impact of board and audit committee characteristics on ED practices in the UK and US contexts. In addition, by using the system GMM estimation technique, this study provides robust and updated evidence that addresses the weaknesses inherent in previous studies.

The purpose of this paper is to understand the level of corruption in Somalia and the causes that lead to corruption that in turn hampers good governance.

The paper relies on the data collected from Somali’s public institutions, international actors, newspaper articles and peer-reviewed literature. The degree of corruption is assessed with the Corruption Perceptions Index by Transparency International and the Control of Corruption provided by the World Bank.

The finding shows that the level of corruption in Somalia is high and complex because of the following reasons: weak governance and poverty, culture and tradition which include favoritism based on clan membership, lack of accountability mechanism and absence political will. Measures undertaken for anti-corruption, for instance, the establishment of the National Anti-Corruption Commission and legislation for its support face barriers and challenges that include political influence, lack of capacities among the undertaking institution and lack of participation by the public.

This research adds value to the knowledge of corruption in Somalia by identifying the concrete socio-political antecedents for corruption and the problems of fighting it. This paper further presents the following detailed strategies to address corruption: enhancing the operational and financial integrity of the Independent Anti-Corruption Commission; restructuring the civil service and merging it into a merit-based system; enhancing Public Financial Management (PFM) reforms; independence of the judiciary; and sustaining development in digital technology adoption in governance and procurement.

This study aims to investigate the impact of various board characteristics on environmental innovation (EI) among companies listed on the STOXX Europe 600. It also examines the moderating role of CSR committees on the board–EI nexus.

The sample consists of companies listed on the STOXX Europe 600 index over 12 years (2011–2022). This study uses the Refinitiv Eikon database to evaluate the extent of EI. Panel data regression analysis is used, with two-stage least squares and lagged models used as robustness tests to control for endogeneity.

The results indicate that board independence and gender diversity significantly increase EI, whereas CEO duality negatively impacts it. Other board attributes, such as board size, show no impact on EI. In addition, the presence of CSR committees moderates these relationships, enhancing the positive effects of gender diversity and board independence and mitigating the negative impact of CEO duality.

This study provides valuable insights for policymakers and corporate strategists aiming to advance environmental responsiveness through strategic board composition and establishing CSR committees. Emphasizing the importance of board independence, gender diversity and CSR committees, the findings suggest practical pathways for enhancing the adoption of EI by creating governance structures that support sustainable practices.

To the best of the authors’ knowledge, this is the first study to examine the moderating role of CSR committees on the associations between board characteristics and EI. This research addresses a crucial gap in the current literature, enriching the understanding of corporate governance and sustainability. It provides critical insights for developing policies and strategies that promote EI through effective board composition and the implementation of CSR committees.

Reactive power in radial distribution networks (RDN) leads to detrimental effects like power factor degradation, voltage profile alterations and increased power losses, ultimately impacting network stability. This paper aims to present a novel two-phase optimization approach to address the challenging task of locating, sizing and determining the optimal number of capacitors in RDNs.

The first step of the proposed methodology is using a hybrid technique that combines the loss sensitivity factors (LSF) with voltage sensitivity factors (VSF) to identify network nodes requiring capacitor installation efficiently. The second step uses an external approximation technique to optimize the size and number of capacitors for each identified node, achieving significant power loss reductions.

The effectiveness of this new approach is evaluated on two RDNs: 33- and 69-bus. Simulations on these test systems demonstrate the effectiveness of the proposed approach, reducing total power loss by 34.7% in the first case and 35.3% in the second. The method’s robustness compared to other approaches further highlights its potential for practical implementation in RDNs, contributing to improved network stability and efficient power distribution.

This paper presents a novel, efficient and robust approach to determining the optimal number, location and size of an RDN capacitor. The problem is addressed through a new formulation with modified constraints. The method consists of two stages: initially, a hybrid LSF–VSF method identifies potential capacitor locations, followed by an external approximation-based mixed-integer nonlinear programming (MINLP) solver to optimize capacitor numbers and sizes. The proposed methodology is applied to the widely used 33-bus and 69-bus RDN test systems. Comparative analysis with existing methods highlights the proposed approach’s effectiveness. Key contributions of this study include the following: Proposes a new problem formulation with modified constraints. Proposes a novel two-stage framework for optimally locating and sizing capacitors in RDNs. Introduces a hybrid LSF–VSF algorithm to identify promising capacitor locations efficiently. Using an external approximation-based MINLP for optimal sizing. Demonstrates the effectiveness of the proposed approach through rigorous testing on standard benchmark systems. Provides a comprehensive comparative analysis against state-of-the-art methods, highlighting the proposed approach’s superior performance.

This study aims to explore the influence of critical mass of female directors on corporate sustainability disclosure in emerging market firms with two-tier boards system. Critical mass of female director presented by three types of female director proportion, there are women on board of director (BOD) that are less than 20%, between 20% and 40% and more than 40%.

The observation comprises 456 firm-year firms listed on the Indonesia Stock Exchange for the period from 2017 to 2022. This study used the static panel data model and dynamic panel data model based on generalize method of moments.

The research discovered that the proportion of female director has positive effect on corporate sustainability disclosure in emerging market firms with two-tier boards system. The mass of female director with at least 20% but less than 40% has positive relationship on corporate sustainability disclosure. Moreover, the mass of female with balance proportion on BOD has stronger positive impact on corporate sustainability disclosure. However, there is insignificant impact between the mass of female directors and corporate sustainability disclosure with less than 20% proportion of female director.

The companies must facilitate the involvement of women on the board of directors to promote pro-sustainability disclosure initiatives. The findings indicate that corporations should deliberately examine the ratio of female directors to enhance corporate sustainability disclosure.

The research studies will add value to the limited literature and addressed the dynamic nature of the relationship and mitigated the endogeneity bias.

The quest for improved facilities management (FM) delivery is receiving immense focus through the incorporation of innovative technologies such as cyber-physical systems (CPS). The system’s high computational capabilities can aid in the abatement of some of the challenges plaguing FM functions. However, the requisite ingredients for the uptake of the system for FM have still not gained scholarly attention. Because performance measurement is a vital index in determining the outcome of FM methods, this study aims to investigate the influence of performance measurement indicators that are influential to the uptake of CPS for delivering FM functions.

A qualitative technique was adopted using the Delphi technique. The panel of experts for the study was selected through a well-defined process based on stipulated criteria. The experts gave their opinions in two rounds before consensus was attained on the identified performance measurement indicators, whereas methods of data analysis were measures of central tendency, inter-quartile deviation and Mann–Whitney U test.

Results from this study showed that 11 of the performance indicators were of very high significance in the determination of the uptake of CPS for FM functions, whereas 5 of the indicators were proven to be of high significance. Furthermore, there was no statistical difference in the opinions of the experts based on their affiliation with academic institutions and professional practice.

The findings of this study contribute practically by aiding policymakers, facility managers and relevant stakeholders with the vital knowledge of delivery mandates for efficient FM services that can spur the uptake of digital technologies such as CPS.

This study contributes to the body of knowledge as it unveils a roadmap of the expected performance output and its accompanying evaluation that would drive the adoption of a promising technology such as CPS in the delivery of FM tasks.

The purpose of this study is to perform bibliometric analysis to systematically and comprehensively examine the current landscape of digital knowledge, integration and performance in the transformation of sustainability accounting, reporting and assurance.

This research uses a systematic literature review, following the Scientific Procedures and Rationales for Systematic Literature Review protocol and uses various bibliometric and performance analytical methods. These include annual scientific production analysis, journal analysis, keyword cooccurrence analysis, keyword clustering, knowledge gap analysis and future research direction identification to evaluate the existing literature thoroughly.

The analysis reveals significant insights into the transformative impact of digital technologies on sustainability practices. Annual scientific production and journal analyses highlight key contributors to the adoption of digital technologies in sustainability accounting, reporting and assurance. Keyword cooccurrence analyses have identified key themes in sustainability accounting, reporting and assurance, highlighting the transformative role of digital technologies such as artificial intelligence (AI), blockchain, Internet of Things (IoT) and big data. These technologies enhance corporate accountability, transparency and sustainability by automating processes and improving data accuracy. The integration of these technologies supports environmental, social and governance (ESG) reporting, circular economy initiatives and strategic decision-making, fostering economic, social and environmental sustainability. Cluster-by-coupling analyses delve into nine broader revealing that IoT improves ESG report accuracy, eXtensible Business Reporting Language structures ESG data and AI enhances life cycle assessments and reporting authenticity. In addition, digital transformation impacts environmental performance, big data optimizes resource use and edge computing improves eco-efficiency. Furthermore, this study identifies avenues for future research to advance the understanding and implementation of digital technology in sustainability accounting, reporting and assurance practices.

Academically, this research enriches the understanding of how digital technologies shape sustainability practices and identifies gaps in digital knowledge and integration. Practically, it provides actionable insights for organizations to improve sustainability reporting and performance by effectively leveraging these technologies. Policy-wise, the findings advocate for frameworks supporting the effective implementation of these technologies, ensuring alignment with global sustainability goals.

This study offers a detailed analysis of the performance and intellectual framework of research on implementing digital technology in sustainability accounting, reporting and assurance. It highlights the evolving research landscape and emphasizes the need for further investigation into how emerging technologies can be leveraged to achieve sustainability goals.

Building information modeling (BIM) is a popular technology in modern construction, but its implementation faces numerous difficulties, which are known as problematic issues of BIM implementation (PIBIs). This study aims to identify and analyze PIBIs based on the perceptions of practitioners in Vietnamese BIM-implemented construction contractors and similar BIM adoption-level countries.

The research is conducted in three stages. After a comprehensive literature review, PIBIs are identified and ranked based on the Delphi method and questionnaire survey. Next, interpretive structural modeling (ISM) is used to provide a hierarchy of system PIBIs. Finally, the driving and dependence power of PIBIs are determined using Fuzzy-Matrice d'Impacts Croisés-Multiplication Appliquée à un Classement (MICMAC) analysis.

This study evaluates 32 PIBIs for small and medium contractors (SMCs) and 28 PIBIs for large contractors (LCs) in Vietnam. This study also develops a systematic framework for contextual relationships and analyzes the relationships among PIBIs using ISM-Fuzzy MICMAC analysis. The results show that different standards or techniques, modeling software limitations and information management significantly impacted LCs, while a lack of senior leadership support and incompatible software affected SMCs, causing other PIBIs.

This study is among the first attempts to investigate the problematic issues emerging during the BIM implementation process at the organizational level in Vietnam as well as other developing countries. The study results could be considered valuable references for BIM practitioners. Furthermore, this knowledge can enable contractors to avoid problems while adopting BIM, thereby increasing their ability to implement BIM successfully and using critical resources more efficiently.