Search results

The purpose of this study is to explore the relationship between charities and financial institutions, as each represent pivotal structures in upholding the counter-terrorist finance (CTF) legal framework, and to investigate whether matters of regulatory compliance impact on the ability of charities to fulfil their charitable purpose.

This paper draws on the empirical evidence derived from 34 semi-structured interviews conducted by the author.

The understanding created by the interview data illuminates the challenges and opportunities of interaction between the charity sector and financial service sector in their interpretation and implementation of the CTF regulation. Both direct and indirect effects of this regulatory framework may ultimately affect the operating capability of some charities.

The research makes an original contribution to the available knowledge, providing new insights and perspectives by uniquely analysing relationships between stakeholders from the perspective of charities: asking a new set of questions to a new set of participants.

This study aims to contribute to the scholarly discourse on the future of money, particularly within the context of Islamic principles. The focus is on examining the intricate intersections of financial development, technological advancements and the emerging metaverse. The research intends to explore the holistic framework encompassing regulatory dynamics, technological infrastructure, consumer trust, Sharia compliance and the metaverse.

The research design incorporates a comprehensive approach, using various elements such as regulatory dynamics, technological infrastructure, consumer trust, Sharia compliance and the metaverse. Data collection involves a questionnaire administered to 318 respondents in the UAE. The methodology uses structural equation modeling – partial least squares (SEM-PLS) to assess the research model and test hypotheses.

The results from the Smart PLS path analysis indicate noteworthy findings. There are significant impacts of fintech adoption, regulatory environments, technological infrastructure and customer trust on the competitiveness of Fintech solutions. Importantly, Sharia compliance emerges as a crucial contextual filter, influencing the interplay between Sharia compliance, fintech adoption and fintech competitiveness. The study provides theoretical insights by emphasizing the pivotal role of Sharia compliance in the dynamics of fintech adoption.

This study contributes original insights to the existing body of knowledge. By exploring the multifaceted connections between financial development, technological advancements and the metaverse within the Islamic context, the research offers a unique and comprehensive perspective. The emphasis on the holistic framework that considers regulatory dynamics, technological infrastructure, consumer trust and Sharia compliance adds originality to the understanding of factors influencing the competition and sustainability of Islamic fintech solutions in the UAE.

This study is a considered interpretation of the National Registration and Accreditation Scheme for the health professions, which commenced operations in Australia in 2010. The development of the Scheme and its operational elements (namely the Australian Health Practitioner Regulation Agency and 14 profession-specific national Boards) are positioned within the context of regulatory capitalism. Regulatory capitalism merges the experience of neoliberalism with an attentiveness to risk, particularly by the State. Nationally consistent legislation put in place a new set of arrangements that enabled the continuity of governments’ role in health workforce governance. The new arrangements resulted in an entity which is neither exclusively subservient to nor independent of the State, but rather “quasi-independent.” In exploring this arrangement, specific consideration is given to how the regulatory response matched the existing reality of a global (and national) health workforce market. This study considers this activity by the State as one of consolidation, as opposed to fracturing, against a backdrop of purposeful regulatory reform.

This study examines the influence of corporate governance indicators (CGIs) on the textual tone of nonfinancial firms in a developing economy.

The data from 1,250 annual reports of listed nonfinancial firms in Pakistan are collected for 10 years. The narrative disclosure tone (NDT) is derived using the sentiment analysis of annual reports, resulting in six distinct NDT scores. The CGIs data are also extracted from the annual reports. The fixed effects model is used as the primary analytical tool, supplemented by machine learning-based linear regression. System GMM and two-stage least squares regressions are employed for robustness checks.

The findings reveal that most CGIs significantly influence all six NDTs. These results align with the existing theoretical literature, except those related to audit committee independence and gender diversity.

The study is limited to the use of annual reports as a source of narrative disclosures. Future research might employ other sources, such as earning press releases and social media.

Within the unique regulatory environment of Pakistan, the study offers insights for regulators to enhance the efficacy of independent directors, discourage concentrated ownership and promote the inclusion of women in board subcommittees to establish the authenticity of textual disclosures.

The study adds to the limited literature on the determinants of NDT. It underscores the importance of understanding textual tone for informed investor decision-making and restoring investor confidence. Moreover, it contributes by focusing on six NDTs and exploring the interplay between CGIs and textual tone.

This paper aims to examine the factors contributing to e-government development as a means to foster sustainable development, highlighting the need for robust e-government frameworks to navigate economic, social and environmental challenges.

A literature-based conceptual framework is presented, grounded in the comparative analysis of e-government in five diverse Asian countries. The paper introduces a research model with testable propositions and synthesizes lessons for future research, emphasizing the integration of e-government with sustainable development goals.

The key findings identify three critical factors for e-government development: policy priorities and strategic initiatives, ICT infrastructure and public–private partnerships investment. The research underscores e-government’s role in providing electronic services that support transparency and democracy, which are essential for sustainable development.

Limitations arise from focusing on select Asian countries, potentially affecting the generalizability of results, as well as the dynamic nature of technology and policy landscapes.

This paper underscores the essential role of governmental action in advancing sustainable development via e-government strategies, providing a framework for success in both developing and developed contexts. It demonstrates how e-government can drive sustainability by comparing the progress of five Asian countries to highlight best practices and challenges in implementing such systems effectively.

The paper uniquely bridges e-government and sustainable development research, showing e-government’s role as a sustainable development instrument. This novel integration is supported by extensive literature and a strategic selection of countries representing varying stages of e-government maturity, providing a well-rounded view of e-government’s impact on sustainable outcomes.

This study examines the decision-making processes and coping mechanisms of mumpreneurs (entrepreneurs who are mothers) as they navigate complex environments characterized by uncertainty and competing goals that are heightened by their circumstances and marginalization.

In-depth interviews were conducted with 26 female entrepreneurs in the United Kingdom who are raising young children.

The research develops a new framework based on regulatory focus theory. It uncovers multiple layers of uncertainty facing mumpreneurs, including traditional business-focused uncertainties such as global crises, market volatility and financial risks, but including uncertainties derived from the challenge of balancing business growth with family responsibilities. Despite these complexities, mumpreneurs pursue multiple competing goals related to their businesses, families and societal contributions. The study identifies four key coping and decision-making mechanisms employed by mumpreneurs in complex environments: intuition, adaptability, confidence and a dynamic interplay between promotion and prevention regulatory focus.

This study contributes to entrepreneurship literature by providing a nuanced understanding of how mumpreneurs are required to navigate uncertainty and competing demands and the key coping and decision-making mechanisms they use to achieve this. It challenges the binary view of regulatory focus theory and offers insights into the unique stress dynamics experienced by mother entrepreneurs. The findings underscore the need for tailored support systems, including coaching and mentoring programs for mumpreneurs with young children. Moreover, the research highlights the importance of policy interventions, such as increased childcare subsidies, to support parental entrepreneurship and advance gender equality goals.

The case study aims to achieve the following learning objectives, structured according to the Revised Bloom’s Taxonomy: First, explore the corporate governance framework: recall the roles and responsibilities of key stakeholders at UCICI Bank and AUDIOCON Group and their coordination in governance structures; interpret the principles of stakeholder theory and their application in governance decision-making processes; apply ethical frameworks like the Markkula Center for Applied Ethics Framework and the Josephson Institute Ethical Decision-Making Model to evaluate governance effectiveness; analyse governance lapses and identify gaps in oversight and stakeholder coordination; and propose reforms in governance frameworks to prevent future fraud; evaluate how effectively the governance structure addresses corporate fraud. Second, examine the concept of conflict of interest: understand the ethical and legal implications of conflicts of interest presented in the case; apply knowledge to assess corporate governance failures related to conflict of interest; analyse oversight lapses and identify causes for governance failure; evaluate SEBI regulations on conflict of interest and recommend strategies to mitigate such conflicts in corporate settings; explore the concept of related party transactions (RPTs); understand how RPTs influence governance and stakeholder interests; apply governance principles to assess the legality of RPTs in the case; analyse risks and ethical concerns associated with RPTs and governance failures linked to these transactions; and evaluate proposed regulatory reforms to enhance oversight and transparency. Third, derive key lessons from the case: understand areas for improvement in corporate governance practices, internal reporting mechanisms and whistleblower protections; apply lessons to create strategies for improving governance practices and protecting stakeholders; analyse systemic governance flaws that contributed to the fraud; evaluate the effectiveness of governance practices in preventing similar frauds in the future; and create recommendations for improving governance, ethics and whistleblower policies. Fourth, examine basic issues and remedial measures: understand the root causes of governance failures in the case; apply knowledge of corporate governance principles to recommend reforms in regulatory and accountability frameworks; analyse weaknesses in the existing governance system that enabled fraudulent activities; evaluate the feasibility of proposed remedial measures for transparency and ethical practices; and create new governance policies to enhance accountability and prevent future frauds.

By studying the UCICI AUDIOCON Loan Fraud Case, the above objectives are aimed to shed light on the complex dynamics of corporate governance, conflicts of interest, regulatory compliance, wrongdoing reporting mechanism, whistle-blower policy and reputation risks within the banking industry. The findings and insights from the case study can contribute to improving governance practices and strengthening the integrity of financial institutions.

The UCICI – AUDIOCON loan fraud case epitomises a crisis in corporate governance, spotlighting ethical breaches at the highest echelons of leadership. This case study delves into the dilemma faced by UCICI Bank’s Board of Directors regarding the prosecution of its former CEO, Mhanda Mochhar. Accusations of impropriety stem from a suspicious loan of US$391.57m to AUDIOCON Group, allegedly facilitated by Mochhar in exchange for personal benefits. The ensuing investigation unearthed violations of banking regulations, including non-disclosure, conflict of interest and RPTs. The pivotal board meeting, dissected in this study, underscores the delicate balance between accountability and reputational damage. Through analysis and debate, stakeholders grapple with the repercussions of their decisions on the bank’s integrity and stakeholder trust. The case encapsulates broader lessons on corporate governance, conflict of interest and regulatory oversight, serving as a springboard for critical inquiry and strategic reform in the financial sector. As the saga unfolds in the courtroom, this study provides a lens into the complexities of corporate morality and the imperative for robust governance frameworks.

This case study can be used in classes/subjects such as Finance, Strategic Management, Corporate Governance, Business Ethics and Law for (Vidgen, Hindle, & Randolph, 2020).▪ Graduate students and officials.

Teaching notes are available for educators only.

CSS1: Accounting and Finance.

Fiat money production necessitates physical commodities, increasing costs and its flow is challenging to monitor, making it vulnerable to criminal exploitation. Cryptocurrencies offer decentralized solutions, but their decentralization has led to illegal activities. Current cross-border transactions face high costs, resource intensity and lack of instant currency transfers. Offline transactions are essential in unreliable networks.

Here, the authors proposed the methodology to perform offline transactions based on card, quick response (QR) code and a foreign transaction framework with universal identification (UID) to perform cross-border transactions using blockchain-dependent central bank digital currencies (CBDCs). Implications for the financial system are also analyzed.

The proposed CBDC framework reduces illegal transactions, corruption and the cost of producing fiat money; eases overseas transactions; and eventually increases international tourism, trade and business between countries. It also reduces the processing fees. Offline framework found useful for performing retail-level transactions.

The research methodology may face limitations due to diplomatic relations, political instability, sanctions and the need for robust offline transaction infrastructure.

The proposed CBDC framework simplifies debt and insurance management, tax collection, international trade, tourism and global stock market participation. However, implementing CBDCs in low-income countries presents challenges like extensive training, infrastructure and user acceptance issues.

The adoption of CBDCs can enhance financial stability by reducing corruption and illegal transactions through improved traceability and monitoring, thereby curbing activities like terrorism.

Common framework for foreign transactions is based on the UID, and offline transaction framework is based on the sender’s QR code for multiple user applications.

The purpose of this paper is to present an implementation plan for the new mineral policy development framework and mining cadastre system for Pakistan, which was developed in the first two papers of this series.

This paper presents an implementation plan based on three fundamental building blocks, namely, implementing an enabling institutional framework and other key elements of mineral policy framework (building block 1); mineral database and mining cadastre system (building block 2); and monitoring and evaluation (building block 3).

A new Ministry of Mineral Development (MMD) is suggested to be developed. A Mineral Development Advisory Committee (MDAC) is also suggested to be constituted under the Ministry of Planning and Development to oversee the development of the new MMD and to implement the actions suggested in the mineral policy development framework. The MDAC will implement the seven key elements of mineral policy development framework.

The design schema of PakMining Cadastre System for secure mineral rights system to attract local and foreign investments is presented. The implementation of institutional reforms, constitution of Mining Cadastre Directorate and implementation of other policy development frameworks is suggested for enabling environment. A comprehensive account of implementation and monitoring strategy is devised to be followed initially by the advisory committee and then by the MMD.

This paper presents original work on the implementation plan for a new mineral policy framework and mining cadastre system for Pakistan to extract maximum benefit from its mineral resources.

The purpose of this paper is to examine the perceptions and effects of social value orientation, expected utility, fairness in procurement procedures, the legitimacy of the procurement law and the procurement law enforcement authority on compliance with the procurement law, guidelines, procedures and regulations. Empirical research in this area is relatively sparse.

Data were collected from a sample of 110 Procurement and Disposing Entities (PDEs) and analysed using confirmatory factor analysis (CFA) and structural equation modelling (SEM).

Results of the fit indices between the model and the observed data were generally good for both CFA and SEM. Results reveal that social value orientation, expected utility, legitimacy of the procurement law enforcement agency and perceptions of procedural justice were significant predictors of the Public Procurement and Disposal of Assets Authority (PPDA) regulatory agency.

This study however has several limitations which limit the interpretation of results. First, the data are cross sectional, thus limiting monitoring changes in behaviour over time. Second, all item scales adapted in this study were not specifically developed for a public procurement regulatory environment. This means that there is need to develop specific item scales for public procurement regulatory environments.

The paper shows that the PPDA regulatory framework should revise its compliance instrument to consider social value orientation.

This paper uses constructs of social value orientation, which are largely ignored in legislated professions to predict compliance.