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The purpose of this study is to investigate the impact of policy uncertainty on firm performance and to examine how the different cultural societies deal with the policy-induced uncertainty.

The authors use data of European non-financial firms to extend the growing literature on policy uncertainty, firm performance and national culture. The authors consider financial as well as market proxies to measure firm performance and use Hofstede's cultural dimensions as a proxy for national culture. The authors apply the generalized method of moments (GMM-system) regression technique on a dataset of 702 non-financial European firms, listed during the period 2002–2018.

The authors find overwhelming evidence that policy uncertainty reduces the performance of the European firms; however, cultural differences among different European countries moderate the impact of policy uncertainty on the financial as well as the market performance of the firms. The results of this study show that European cultures with high power distance, individualism, masculinity and indulgence efficiently deal with the economic policy uncertainty. While the European societies with high uncertainty avoidance fail to cope with policy-induced uncertainty. The results are robust to different regression models, alternate proxies of firm performance and endogeneity issues.

The authors argue that policy uncertainty increases information asymmetry and decreases firm performance, therefore, the policymakers shall be considerate of the consequences of the policy-induced uncertainty in the society and business arena that would not only adversely affect the firms but also the economy.

To the best of the authors' knowledge, this is the first study that investigates the role of national culture on the relationship between policy uncertainty and firm performance in the European context.

Because of importance of technological learning for less developed countries, the notion has received increasing attention of scholars. The purpose of this paper is to investigate technological learning systematically by assessing the effect of technology transfer actors on technological learning in less developed countries context.

The paper presents assessment model by adopting technological learning concept based on technology absorption and incremental innovation at firm level and identifying key roles of technology transfer actors (State – Scientific and technological infrastructure – Industry) that affect technological learning. The paper follows survey as research methodology. Thus, a questionnaire was addressed to 33 Syrian textile factories to examine the assessment model. Simple linear, multiple linear and ordinal regression analyses are preformed to examine relationships of model components.

The regression models show notable ability of technology transfer actors to explain technological behavior of firms to accumulate operative capability and consequently to generate passive incremental innovation. The findings indicate passive technical change system of Syrian textile industry. Therefore, goal-oriented evaluation of actual technology policy is preliminary step for achieving improvements, as well as activating scientific and technological infrastructure role by enabling strong relationships with industry and supporting interactions of domestic firms of textile industry and with foreign players.

The paper enriches technological learning literature by proposing systematic approach that sets the nature of technical change process of less developed countries in core of analysis. Moreover, it provides a guide for technological learning practices at firm level and for policymakers based on assessing actual status of Syrian textile industry.

This study aims to expand the Unified Theory of Acceptance and Use of Technology (UTAUT2) by exploring the effect of two new predictors: technological innovativeness and information quality, along with the learning value and the original determinants that influence faculty and students’ acceptance of the Moodle-Learning Management System. The modified model includes nine predictors: performance expectancy, effort expectancy, social influence, facilitating conditions, learning value, hedonic motivation, habit, technological innovativeness and information quality.

The study is based on a cross-sectional survey design. The target population was faculty and students of the University of Kufa in Iraq. An online questionnaire was used to collect 228 responses from faculty and 553 from students.

Results of the Structural Equation Modeling (SEM) Partial Least Squares (PLS) analysis revealed that factors which influence faculty acceptance were social influence, facilitating conditions, hedonic motivation, habit, technological innovativeness and information quality, while factors which influence student acceptance were performance expectancy, facilitating conditions, learning value, hedonic motivation, habit, technological innovativeness and information quality.

The theoretical and practical contribution of the present study lies in the expansion of the UTAUT2 model through adding neoteric predictors, which are technological innovativeness and information quality. This study provides insights and further understanding of the effect of predictors (original and additive) on users’ acceptance of e-learning management system. In addition, the findings of the current study enable decision-makers and those interested in developing Moodle-LMS to obtain in-depth information on these indicators, especially in the Iraqi higher education environment.

The purpose of this paper is to investigate the associations between total quality management (TQM) core elements, knowledge management (KM) processes, and educational organization outcome with respect to academic performance (AP).

The study is based on a cross-sectional survey design. The survey was conducted on 87 colleges in Iraqi higher-education institutions (HEIs). Four main hypotheses were developed and tested statistically by applying multivariate data analyses.

The results provided evidence that both TQM core elements and KM processes should be implemented holistically. TQM core elements have a positive and significant impact on both KM processes and AP. Moreover, KM processes partially mediate the association between TQM core elements and AP.

Empirical research on the association between TQM, KM, and performance is very limited. This study provides insights and further understanding of the effect of TQM core elements on KM processes and AP, and therefore, allows decision makers to get in-depth knowledge about these associations and the mediating effect of KM in HEIs context.

The purpose of this paper is to examine the impact of corporate governance (hereafter, CG) reforms on the risk disclosure quality in an emerging economy, namely Pakistan. The authors also investigate the impact of CG reforms on the relationship between CG practices and risk disclosure quality.

The authors use a manual content analysis method to a sample of non-financial companies listed on the PSX-100 index for 2009–2015, to examine the impact of CG reforms on risk disclosure quality. The authors use pooled ordinary least squares and the system GMM estimations to test the research hypotheses.

The authors find that CG reforms have a positive impact on risk disclosure quality. The results indicate that certain CG practices such as CEO duality and board independence are associated with risk disclosure quality. Interestingly, the findings also highlight the effectiveness of CG reforms by showing that the revised code positively moderates the CG practices and risk disclosure relationship.

The findings of the study have policy implications for regulatory bodies of emerging economies trying to strengthen the CG structures and to introduce risk disclosure regulations to cater the information need of stakeholders.

The authors provide new empirical evidence for the impact of CG reforms on risk disclosure quality using a unique setting of an emerging economy, namely Pakistan.

In this paper, the authors investigate whether an independent and gender-diverse compensation committee strengthens the relationship between top managers' pay and firm performance in Chinese companies. The authors also investigate whether the independent compensation committee composed of all male directors is effective in designing the optimal contract for executives.

The authors use data from A-share listed companies on the Shenzhen and Shanghai stock exchanges from 2005 to 2015. As a baseline methodology, the authors use pooled ordinary least square (OLS) regression to draw inferences. In addition, cluster OLS regression, two-stage least square regression, the two-stage Heckman test and the propensity score matching method are also used to control for endogeneity issues.

The authors find evidence that an independent or gender-diverse compensation committee strengthens the link between top managers' pay and firm performance; that the presence of a woman on the compensation committee enhances the positive influence of committee independence on this relationship; that a compensation committee's independence or gender diversity is more effective in designing top managers' compensation in legal-person-controlled firms than they are in state-controlled firms; that gender diversity on the compensation committee is negatively associated with top managers' total pay; and that an independent compensation committee pays top managers more.

The study results highlight the role of an independent compensation committee in designing optimal contracts for top managers. The authors provide empirical evidence that a woman on the compensation committee strengthens its objectivity in determining top managers' compensation. The study finding supports regulatory bodies' recommendations regarding independent and women directors.

The study findings contribute to the recent debate about gender equality around the globe. Given the discrimination against women, many regulatory bodies mandate a quota for women on corporate boards. The study findings support the regulatory bodies' recommendations by highlighting the economic benefit of having women in top management positions.

This study contributes to literature by investigating the largely overlooked questions of whether having a gender-diverse or independent compensation committee strengthens the relationship between top managers' pay and firm performance; whether an independent compensation committee is more efficient in setting executives' pay when it is gender-diverse; and whether the effect of independent directors and female directors on top managers' compensation varies based on the firm's ownership structure. Overall, the main contribution of the study is that the authors provide robust empirical evidence in support of the managerial power axiom.

The study evaluates whether an application of Ind-AS that converged with IFRS in India has enhanced financial reporting quality (FRQ) and how that is reflected in financial performance (FP).

Design/methodology/approach: The study uses discretionary accruals (DACC) to measure FRQ. In addition, it uses ordinary least square (OLS) regression to examine the association between Corporate Governance attributes, FRQ, and financial performance for a sample of 24 textile companies from 2010 to 2021.

The results indicate that adopting IFRS has a role in monitoring CG attributes to enhance FRQ; this means the financial reporting qualit improves somewhat with some CG attributes under Ind-AS. In addition, the results demonstrate that financial reporting quality positively influences FP.

There are significant effects on authorities and decision-makers. The findings from this research can benefit lawmakers by providing Ind-AS policy enforcement with more consideration. The results are also helpful for policymakers who want to improve CG and need proof of the significance of high FRQ in this respect.

Given the dearth of research on FRQ in India, the study extends prior literature on FRQ by examining the quality of financial reporting according to the transformation to IFRS in Indian textile firms. The theoretical contribution of the current study is the testing of agency theory towards practices of corporate governance mechanisms on FRQ and FP in the context of the textile sector.

This study aims to examine the extent to which information asymmetry affects investment efficiency and whether the presence of blockholders moderate this relationship.

We employ the data of firms listed on the Malaysian stock exchange for the period 2010–2018, to compose our sample. Our final sample includes the 100 largest non-financial firms based on market capitalization. Collectively, these 100 companies contribute 84.2% to the total market capitalization (MYR 1,730bn) which is representative of the whole market. The ordinary least squares regressions were used as the main estimation technique. The system generalized method of moments, two-stage least squares and propensity score matching were also used, to address potential endogeneity concerns.

We document a positively significant association of information asymmetry with investment inefficiency. These results imply that information asymmetry reduces investment efficiency and enhances sub-optimal investments. We also document that blockholders negatively moderate the relationship of information asymmetry with investment inefficiency. Further analyses show that investment inefficiency is higher in low-growth firms than in high-growth firms because of higher information asymmetry.

We focus on Malaysia, which is a predominantly common-law Anglo-Saxon country. Graff (2008) documented that the investors are treated differently across legal systems and there are differences between the continental European and Anglo-Saxon countries. La Porta et al. (1999) documented that investors tend to have more legal protection in Anglo-Saxon countries. Therefore, our results may not be generalized to countries with different legal systems.

An important implication of our findings is that stakeholders may encourage the presence of blockholders and give them a voice to weaken the positive relationship between information asymmetry and investment inefficiency.

This study contributes to the contingency literature by investigating the moderating effect of an important governance mechanism, i.e. the presence of blockholders on information asymmetry-investment efficiency nexus. Despite being important, this moderating effect has been largely overlooked in the literature. Our study contributes by providing an understanding of how blockholders can influence investment decisions, offering insights for academics, investors and policymakers focused on improving the efficacy of investment decisions and governance structure.

This study investigates the impact of economic policy uncertainty (EPU) on corporate sustainability [environmental, social and governance (ESG)] performance and aims to explore whether uncertainty-induced sustainability performance is influenced by the firm's life cycle (LC).

The study uses data from European non-financial firms listed during the period from 2002 to 2022 to extend the nascent literature regarding EPU and sustainability performance while applying a dynamic panel data regression analysis (Generalized Method of Moments - GMM System) on 11,462 firm-year observations of 1,869 European firms.

The authors find overwhelming evidence that policy uncertainty affects the sustainability performance of European firms. The firms restrict their environmental and governance-related activities and address immediate issues to survive during periods of high EPU. Conversely, the firms increase their social engagements to decrease uncertainty-induced information asymmetry. The authors' results show that the intensity and type of sustainability performance are also influenced by the firm's LC. The results imply that board gender diversity (BGD) increases while power concentration with the chief executive officer (CEO) decreases sustainability performance.

These findings have important implications for policymakers, potential investors, firm management and other stakeholders given the firms' access to resources and preferences to encounter uncertainty vary across different LC stages.

To the best of the authors' knowledge, this is the first study that investigates the role of the firm's LC in the relationship between policy uncertainty and sustainability performance in the European context.

The purpose of this study is to examine the impact of board diversity (e.g. education, gender, nationality and royal family members) on voluntary corporate social responsibility (CSR) disclosure for a sample of banks listed in the Arabian Gulf Council countries.

The authors use the Global Reporting Initiative guidelines to construct the CSR disclosure index. The empirical analysis is based on the data of banks listed in the Gulf Cooperation Council countries over the period 2011–2019. To tackle the potential issue of endogeneity, the authors apply the system generalized method of moments (GMM) estimation approach to investigate the relationship between board diversity and CSR disclosure index.

The findings of the analysis show that there is a significant relationship between board diversity and the level of voluntary CSR disclosure. Specifically, the authors find that diversity captured by the education level, nationality and the presence of royal family members on board is positively associated with the level of voluntary CSR disclosure while diversity captured by the gender of board members is negatively associated with the level of voluntary CSR disclosure.

The regulators, policymakers, stakeholders and the board of directors become aware of the diversity mechanisms that must be used to promote CSR practices in the banking sector of Arabian Gulf countries.

The authors extend the existing literature by providing empirical evidence on the association between board diversity and voluntary CSR disclosure practices of banks operating in the Arabian Gulf countries. This study also highlights that board gender diversity may have a different impact on voluntary CSR disclosure between developed countries and developing countries. This paper also provides preliminary evidence on the importance of education level, the presence of foreign and royal directors on board to influence CSR practices of banks operating in the Arabian Gulf countries.