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This study seeks to examine self‐perceived entrepreneurial problems and prospects in a post‐war scenario. It aims to present a holistic and historical account of Afghan graduates and their ability to transform into educated entrepreneurs. The study further aims to highlight entrepreneurial characteristics of the Afghans and link them to the unique livelihood strategies they adopt.

Given a lack of archival data, this study relies on semi‐structured interviews and historical data from different sources. The findings are mainly based on life narratives of graduate entrepreneurs in different sectors. Descriptive questions about entrepreneurial problems and prospects in the post‐war era were asked.

Long wars and internal turmoil have pushed both educated and uneducated Afghans into entrepreneurship. The study finds that entrepreneurs rank entrepreneurial characteristics as major prospects available while adverse security conditions and widespread corruption are the major problems faced. The problems discourage them from entering a formal business domain. Despite emerging opportunities such as niche markets, entrepreneurial problems outweigh the prospects.

This research has implications for entrepreneurship educationists and policy‐makers. Economic growth can be made possible only when entrepreneurial problems are replaced with prospects. Afghan graduates could then serve as entrepreneurial drivers for real economic growth. Moreover, this strategy of entrepreneurialism may help in reducing extremist tendencies in the long run.

The study provides evidence of the effectiveness of the long entrepreneurial struggle of university graduates in war‐like conditions. Entrepreneurs' motivations suggest developing a viable entrepreneurship‐education program in the future.

The chapter aims to analyse the influence of the board of directors on transparency and integrity in hybrid organisations like state-owned enterprises. The effect of several characteristics of directors on the board’s effectiveness was assessed. The empirical analysis was based on 60 Italian listed and non-listed state-owned enterprises. Each enterprise’s website was individually examined and coded to obtain two self-constructed indexes on transparency and integrity, and a regression model was created to test the hypotheses.

The ‘knowledge structure’ of interlocking directors and board compensation were found to be both positively related to the level of commitment among state-owned enterprises to transparency and integrity. Skill and gender diversity on the board had no significant impact. The analysis used data from a one-year period but dealt with hidden and complex phenomena like corruption. Future longitudinal studies and qualitative approaches would provide more comprehensive insights into the relationship between the board of directors, transparency and integrity over time.

Policymakers and all those involved in the appointment of directors to state-owned enterprises should be aware that some features of board members may affect the levels of organisational transparency and integrity. The chapter contributes to the literature on governance of state-owned enterprises, emphasising the board’s role and its effectiveness in sustaining transparency and integrity.

The literature considers three main models of nonprofit sector structure and development: liberal, welfare partnership, and social democratic. This study analyzes the cases of Italian and Canadian nonprofit organizations (NPOs) that operate in two third-sector contexts, widely known as “hybrids.” In particular, we aim to verify whether some features of governance, leadership, and volunteer participation have impacts on the financial performances of selected Italian and Canadian NPOs.

Differences between the two studied nonprofit contexts influenced the sampling, the data collection, and the methods of analysis. Data on Italian and Canadian NPOs are analyzed both together and separately, using multiple regression models. Revenues, fund-raising and other grants from the general public, and program expenses are used as measurements of financial performance.

Our analysis demonstrates that some board characteristics, as well as volunteer participation and representation on the board, have impacts on the nonprofit financial performance. The characteristics of the CEO studied in this work are not significantly associated with the level of financial performance.

This study has several important implications for research on board characteristics, CEO characteristics and volunteer management and governance, as well as implications for practitioners. The limitations of this study are related mostly to the different methods used for sampling NPOs and collecting data in the two different country contexts due to the different level of availability of data.

The past literature has not adequately examined the relationships among the board and CEO characteristics, the role of volunteers in governance and financial performance.

This chapter discusses the evolution of business accelerators in Egypt, as a developing country, and how they may be seen as a totally different means for promoting entrepreneurship and not just an extension of the business incubator model. Through exploring the perspectives of six entrepreneurs who were sponsored by the first business accelerator in Egypt and exploring the institutional perspectives of the CEO of the business accelerator and the chairman of a non-governmental organization that supports entrepreneurship, the author will demonstrate the advantages of the business accelerator as an entrepreneurial place. Furthermore, the author will be able to suggest recommendations for policy makers and business accelerators to further develop the model of the business accelerator.

ELSEWHERE in this number we list libraries which have Esent us copies of their annual reports which we are glad to have. Now and again we are able to elaborate on these, but in the present issue that has not been possible. We would say, however, that these reports are deserving of the attention of librarians generally, and of students at the library schools. They are records of work in progress, and they do suggest the development of library policy. The best of them are of textbook value.

The purpose of this paper is to demonstrate how the practice of program management can be used to manage strategically‐oriented initiatives such as mergers and acquisitions (M&As).

The methodology applied is high‐level reflective retrospective qualitative field research conducted by a practitioner‐scholar in response to the research question: How does the program management approach applied to a small‐scale acquisition compare to the current joint bodies of program management and M&A theory and practice?

The practice of program management provides a means for managing strategically oriented initiatives such as small‐scale acquisitions.

This paper is constrained by a high‐level literature review of English language publications only, and high‐level reflective retrospective qualitative field research conducted by a single practitioner‐scholar upon a single relatively small‐scale acquisition, which cannot necessarily be scaled up to be representative of a larger‐scale acquisition, nor given the differences between M&As be used as a direct template for other M&As. Also, as a purely qualitative field research study into an area of intermediate maturity, the response to the research question lacks statistical support.

M&As are increasing in frequency and yet continue to have relatively high‐failure rates. Based on the findings of this paper, the practice of program management provides a means of managing strategic initiatives such as acquisitions.

This paper adds to the bodies of program management and M&A literature, from the dual perspectives of practice and research, particularly with reference to small acquisitions and acquisitions in the small and medium enterprise sector.

The importance of the performance of a firm and the essential role played by the management in their accomplishment has been discussed and recognised by many researchers from Drucker to Upper Echelon Theory. Nonetheless, currently, anybody has been able to determine the precious and reliable parameters which let the firm achieve required-level performance. The confusion around this objective is still sufficient and the controversial has being growing widely over time, being the findings achieved contradictory, insufficient, imprecise and unreliable. Regarding the demographical literature findings focus on the premises previous related to Upper Echelon Theory. The purpose of this paper is to go further and try to test how, not only the level, but also the diversity of constructs like top management teams (TMT)'s demographic characteristics influence the firm performance accomplished by the managers by applying a Hierarchical Linear Regression Model.

Based on primary data from two Spanish databases – SABI, CNMV – and secondary data, a sample size of 147 TMTs in large companies from 18 industries sector with headquarters in Spain over a four years period (2004-2007) were obtained. The analysis focused on the total TMT for each firm. To test the relationship between the company performance and the demographic constructs, a more recent methodology based on hierarchical linear models (HLMs) using a longitudinal dataset of multinational big firms with headquarters in Spain was applied.

After applying the statistical techniques the results show a partial confirmation of the hypotheses formulated in the theoretical model proposed. First, the analysis evidences that company size is both highly correlated with TMT size and their demographic variables in terms of diversity. Second, the HLM shows that TMT's education-level diversity has a negative and significant impact on corporate performance and no significant effects for functionality and education background diversity have been found. Based on the accomplished findings, organisations appear to be more concerned about the employee's education level rather than their education background. Moreover, the model further supports that companies seem to be more aware of industry experience diversity than functionality diversity, also confirming a greater influence of the more international experience diversity of TMT on corporate performance.

This study offers a significant contribution not only by specifying a three-level hierarchical regression models regarding diverse approaches to measure the performance variable as dependent variable but also by considering as predictors not only the level of the demographic variables but also their diversity. This knowledge is relevant for entrepreneurial purposes since it highlights the achievement of high performance. The results allow us to explain which constructs influence the achievement of firm performance. Thus, this knowledge could be relevant to the entrepreneurs to encourage the firm survival and growth. Furthermore, focused on an ambitious purpose, it reveals the parameters needed to achieve to get the optimums performance level. Hence, the present study contributes an attempt to advance the literature on TMT composition by applying multi-level theory given the nested structure of the data set. The paper is one of few studies which apply panel data to analyse the influences of TMT characteristics on corporate performance and one of the first focused on Spanish entrepreneurial context.

The funding of defined-benefit plans has garnered the attention of academicians, practitioners, and policymakers. Drawing upon agency and organizational control theories, this study investigates the implications of board independence on changes in defined-benefit funding. Using a panel dataset of S&P 500 companies sponsoring defined-benefit plans, the author finds that corporate boards matter. Specifically, CEO duality and outside director representation are associated with year-to-year decreases in defined-benefit funding. Conversely, outside director ownership is related to year-to-year increases in defined-benefit funding. Furthermore, outside director ownership moderated the relationship between outside director representation and defined-benefit funding such that outside director representation is associated with year-to-year increases in defined-benefit plan funding when the percentage of outside director ownership is high.

The purpose of this study is to investigate the association between sustainability reporting (SR) and firm value considering the moderating effect of audit committee (AC) quality and auditor tenure on this association.

The data for the study comprise 41,500 firm-year observations worldwide between 2007 and 2018 drawing on ten main sectors. The authors run a country-industry-year fixed effect regression and address endogeneity concerns with further methodologies.

First, the authors find that SR is significantly and positively associated with both firm value and industry-adjusted firm value. Further tests revealed that the baseline findings hold for SR assurance and the Global Reporting Initiative framework as well. Second, the moderation analysis outlined the significant moderating role that the AC assumes. More specifically, AC independence and expertise were found to strengthen the value relevance of SR. Third, the market also appreciates the moderation of auditor tenure in SR.

Investors appreciate greater corporate transparency which means that sustainability reports are likely to reduce information asymmetry and thereby agency conflicts. In addition, the moderation analyses imply that shareholders consider AC quality while they attach value to corporate sustainability reports. Hence, the structure of the auditing function appears to perform an implicit assurance role in the value relevance of sustainability reports. In line with these implications, corporations can review and re-design their auditing function and decide whether or not they will attest to sustainability reports given that AC independence and expertise and auditor tenure predict this decision.

The study highlights the audit function’s growing role beyond financial reporting and suggests implications for ACs and auditors in ensuring shareholders about the credibility of SR.

This paper aims to focus on governance theories and practice variables in Not-For-Profit Service Organizations. The research answers two questions: what the prevalent governance practices of Not-for-Profit Service Organizations (NPSO) are, and whether there is a crossover among NPSO governance practices and For-Profit-Organization theories in the literature.

A questionnaire to the 285 organizations within the defined parameters obtained a 18 percent response. Data were collected regarding the boards' predominant roles in the organizations' governance activities, the top executives' predominant roles in the organizations' operations and their interrelationship with the boards, and the boards' most common meeting agenda topics.

The findings prove that governance models in NPSO are mostly driven by Agency Theory (52 percent of the sample). Stewardship and Resource Dependence Theories also contribute to existing governance models (28 percent), while some of the organizations have developed Hybrid Models (20 percent) drawing from the various theories.

The limited number of organizations participating in the research does not allow a generalization. However the diversity of organization types and sizes within the scope do provide a panoramic view of the not-for-profit service sector.

Having proved that there is a crossover of governance practices among For-Profit and Not-for Profit Organizations, this research opens the door to the evaluation of many other existing or potential crossovers in governance and other management elements.

This research is novel in its approach to look for similarities rather than differences between For-Profit and Not-for-Profit Organizations. The approach allows both sectors to learn from each other and seek for fresh improvement alternatives.