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The intensity of carbon emissions has led to the serious problem of global warming, and the consequences in terms of climatic disasters are gaining increasing attention worldwide. As the energy sector is responsible for most global emissions, developing clean energy is crucial to combat climate change. This study aims to examine the relationship between corporate governance and renewable energy (RE) consumption and explore the interaction between RE production and RE use.

The study adopts an econometric framework of a panel model, followed by the robustness check using alternative methods, including logit regressions. The bivariate probit model is used to analyze the interaction between the decision to use and the decision to produce RE. The analysis is based on a sample of 3,896 firms covering 45 countries worldwide.

The results reveal that appropriate governance mechanisms positively impact RE consumption. These include the existence of a sustainability committee; environmental, social and governance-based compensation policy; financial performance-based compensation; sustainability external audit; transparency; board gender diversity; and board independence. Firms with appropriate governance mechanisms are more likely to produce and use RE than others. Finally, while RE use positively impacts firm value and environmental performance, the authors find no significant effect on current profitability.

This study goes beyond previous research by exploring the impact of multiple governance mechanisms. To the best of the authors’ knowledge, this is also the first study examining the relationship between RE use and firm value. Overall, the findings suggest that RE transition requires, first of all, establishing appropriate governance mechanisms within companies.

This research paper aims to conceptualize digital transformation governance and its conventional mechanisms and to present governance solutions tailored to an organization’s level of digital maturity. The objective is to provide a framework for large organizations to select appropriate governance mechanisms based on their digital maturity level, enabling them to effectively manage and govern their digital transformation journey.

The study employs a meta-synthesis methodology, systematically reviewing and synthesizing findings from 175 academic papers and 31 reports/white papers. The research involves a rigorous qualitative approach, including literature search, selection of relevant texts, information extraction, analysis of qualitative findings, quality control and presentation of findings.

The proposed model suggests a three-tiered approach to digital transformation governance based on the organization’s digital maturity: “beginner,” “intermediate” and “advanced” stages. The findings indicate that as an organization advances in its digital maturity, its governance mechanism tends to be less centralized and involves multiple relevant units. Conversely, organizations with lower digital maturity require a more concentrated approach to digital governance.

The study is based on a systematic review and synthesis of existing literature. Further empirical research could validate and refine the proposed model.

By using the proposed maturity-driven model, organizations can choose a more suitable and effective governance mechanism for the realization of their digital transformation roadmap based on their digital maturity level. The model offers a comprehensive framework for selecting and combining appropriate governance mechanisms at each maturity stage.

The proposed framework offers a strategic and novel yet practical tool, enabling organizations to advance their digital governance capabilities in sync with their transformation roadmap. The study consolidates dispersed findings and expands the range of viable governance mechanisms contingent on digital progression.

Drawing motivation from the greater exposure to uncertainty and condition changes that affect large projects due to their long lifecycle, this paper aims to investigate how the time factor affects the use of governance mechanisms to pursue the success of these projects.

To pursue its aim, the article applies the dichotomization between the hard and soft mechanisms of project governance to the analysis of a historical case study, whose findings are organized over the short, medium and long periods. The case selected is referred to the peculiar water system, made up of tunnels named “bottini,” that was in use in Siena (Italy) as the old aqueduct. Specifically, the study focuses on the project of expansion of this water system that was realized during the 14th century for the construction of the “Bottino maestro di Fontegaia.”

This article highlights the different relevance that, during the lifecycle of large projects, is assumed by hard and soft governance mechanisms, with the former having main relevance in a short and medium period, and the latter usually emerging in the medium period and, subsequently, playing a growing role for the project success in the long period.

The article contributes to the literature on large projects by providing novel insights about how the time factor impacts the governance of these projects. Furthermore, the case study, with its unique history, highlights the relevance of combining effectively the hard and the soft dimensions of project governance to pursue success.

This study aims to explore the relationship between institutional and macroeconomic factors and corporate financial flexibility while also investigating the moderating impact of selected board governance mechanisms on this relationship.

The sample of the study comprises 174 firms listed on the Colombo Stock Exchange for a period of eight years, from 2014 to 2021. Data were collected from secondary sources, and both descriptive and inferential statistical techniques were used for analyses.

Corporate financial flexibility is notably affected by profitability as an institutional factor and by gross domestic product growth rate and banking sector development as macroeconomic factors. Furthermore, the relationship between a company’s profitability and corporate financial flexibility is found to be moderated by selected board governance mechanisms. However, these governance mechanisms do not influence the relationship between corporate financial flexibility and other institutional factors (i.e. other than profitability) and macroeconomic factors considered in this study.

This study adds a fresh perspective to the existing body of knowledge in the field of corporate finance by emphasizing the interaction effect of board governance mechanisms on the association between macroeconomic and institutional variables and financial flexibility of firms. The findings are expected to be useful for business decision-makers in managing their corporate financial flexibility effectively and maximizing the use of their financial resources.

Public listing of small and medium enterprises (SMEs) stimulates unremitting transformations into their corporate governance (CG) practices. These transformations in CG are likely to impact the financial performance (FP). The current study examines how individual corporate CG mechanisms and their mutual interactions (configurational approach) stimulate the FP of listed SMEs. The study selects promoters’ ownership (PO), the board (B-INX) and information disclosures (DISC) as individual CG mechanisms. In addition, market competition (COMP) is considered a form of external governance/regulation.

The study uses five years of panel data (2018–2022) of 80 SMEs listed on the Bombay Stock Exchange’s (BSE) SME listing platform in India. Panel data fixed effects and cluster robust standard errors estimated. In addition to the impact of individual CG mechanisms, their mutual interactions (configurational approach) are tested using moderated hierarchical regression and confirmed by slope tests.

The results signify the ineffectiveness of individual CG mechanisms when acting in silos. However, their mutual interactions drive the FP. A hierarchy of results is obtained. PO is the dominant form of internal CG, negatively influencing the relevance of B-INX and DISC. B-INX tends to adhere to good governance by positively moderating the impact of DISC on FP. Lastly, COMP acts as external governance that dominates the ownership effects. Findings reveal that the interactions among individual CG mechanisms are essential to the FP of listed SMEs. Such interactions adjust the agency theory dynamics of CG in these firms.

The study takes a holistic approach to investigate the agency theory dynamics via the mutual interactions among multiple CG forms. It highlights how the presence of a dominant form of CG can adjust the financial effect of others, thereby adjusting agency theory dynamics.

These results hold practical significance for SMEs in multiple ways. SMEs should embrace configurational approach to comprehend their agency dynamics. The configurational approach of CG mechanisms is the way forward for SMEs, which are known to be financially constrained. In other words, the fact that the resiliency of SMEs is very often questioned calls for the configurational approach, where different CG mechanisms coexist to drive FP.

The study is by far the first of its kind to investigate the CG of listed SMEs against the backdrop of the configurational approach. The findings will benefit industry practitioners, academics and regulatory bodies to visualize the governance practices through the lenses of configurational approach.

This paper aims to delve into the nuanced relationship between corporate governance dynamics, human capital disclosure and their impact on the competitive positioning of Japanese listed companies. The study primarily examines how these factors influence employee engagement, a critical determinant of overall business competitiveness.

Panel data for Japanese listed companies for FY 2019 to FY 2021 were analysed using multiple regression analyses with two models.

The results indicate that the presence of independent and female board members has a positive impact on human capital disclosure. Surprisingly, employee engagement was found to be negatively related with human capital disclosure, signifying a potential trade-off between transparency and engagement.

Amidst the escalating emphasis on non-financial information and corporate social responsibility, this paper unveils a previously underexplored aspect of Japanese corporate competitiveness. Specifically, this study offers a fresh empirical perspective on the relationship between corporate governance, human capital disclosure and employee engagement in Japanese listed companies, a topic with limited academic research and no legal regulations in Japan. The findings have significant implications for companies seeking to enhance their human capital disclosure and employee engagement practices, especially in light of the growing focus on non-financial information and social responsibility.

A major obstacle regarding the measurement of an organization's sustainability and accountability in the space economy is defining the context and boundaries of commercial activity in outer space. Here, we introduce an ecosystem framework to address this obstacle. We utilize this framework to analyze the space mining sector. Our ecosystem framework sets the space mining sector's boundaries and helps a firm identify key stakeholders, activities, policies, norms and common pool resources in that sector and the interactions between them; a significant step in structuring how to measure space sustainability and accountability.

Borrowing theories and perspectives from a wide range of academic fields, this paper conducts a comprehensive context analysis of the space mining ecosystem.

Using our ecosystem framework to define the context and set boundaries for the space mining sector allowed us to identify sustainability-related issues in the sector and offer roadmaps to develop sustainability measures and standards.

To the best of the authors’ knowledge, this is one of the first papers to introduce a framework to define boundaries in the global space economy and provides a tool to understand, measure and evaluate the space mining sector's environmental, social and economic issues.

This study aims to exploit Tobin’s Q model of investment to examine the relationship between corporate governance and green innovation.

The study is based on a sample of 3,896 firms from 2002 to 2021, covering 45 countries worldwide. The authors adopt Tobin’s Q model to conceptualize the relationship between corporate governance and investment in green research and development (R&D). The authors argue that agency costs and financial market frictions affect corporate investment and are fundamental factors in R&D activities. By limiting agency conflicts, effective governance favors efficiency, facilitates access to external financing and encourages green innovation. The authors analyzed the causal effect by using the system-generalized method of moments (system-GMM).

The results reveal that the better the corporate governance, the more the firm invests in green R&D. A 1%-point increase in the corporate governance ratings leads to an increase in green R&D expenses to the total asset ratio of about 0.77 percentage points. In addition, an increase in the score of each dimension (strategy, management and shareholder) of corporate governance results in an increase in the probability of green product innovation. Finally, green innovation is positively related to firm environmental performance, including emission reduction and resource use efficiency.

The findings provide implications to support managers and policymakers on how to improve sustainability through corporate governance. Governance mechanisms will help resolve agency problems and, in turn, encourage green innovation.

Understanding the impact of corporate governance on green innovation may help firms combat climate change, a crucial societal concern. The present study helps achieve one of the precious UN’s sustainable development goals: Goal 13 on climate action.

This study goes beyond previous research by adopting Tobin’s Q model to examine the relationship between corporate governance and green R&D investment. Overall, the results suggest that effective corporate governance is necessary for environmental efficiency.

The purpose of this study is to examine the level of Shariah governance disclosure among Islamic banks in Malaysia and the Gulf Cooperation Council (GCC) countries (i.e. Kuwait, Bahrain, United Arab Emirates, Qatar, Oman and Saudi Arabia). On top of that, the effect of Shariah governance disclosure on Islamic banks financial performance is investigated.

Data underwent quantitative content analysis and a mean comparison of the Shariah governance disclosure mechanisms as well as multiple regression analysis. Shariah governance information is obtained from the Islamic banks' official websites and the Bursa Malaysia Exchange.

The results of the content analysis revealed that the level of Shariah governance disclosure among Malaysian Islamic banks has been more pronounced than in the GCC countries. Additionally, the multiple regression analysis results specified that of the five Shariah governance disclosure mechanisms, the Shariah committee emerged as the strongest determinant in the financial performance of the Islamic banks, followed by transparency and disclosure.

Islamic banks should emphasise publishing Shariah governance information in annual reports to reflect superior accounting practices as assessed by certified Shariah auditors with an effective monitoring system.

The empirical findings are vital for serving as a guideline for Islamic banks in Malaysia and the GCC countries to disclose their practice of Shariah governance and gain empirical insights into its effect on firms’ financial performance. Following that, Islamic banks would improve their accounting practices while adhering to Shariah principles, strengthen internal controls and boost their brand reputation.

This study aims to theoretically investigate the effect of activating corporate governance (CG) mechanisms on the association between adopting corporate social responsibility (CSR) and tax avoidance (TA). Based on the analyzing of the previous studies, the authors support the results of studies that found a positive effect for activating CG on the adoption of CSR. Also, they found that there is a negative impact of activating CG mechanisms on TA, as CG includes controls and procedures that contribute to limiting opportunistic behaviors of management and ensures making decisions that maximize value for shareholders. To the best of the authors' knowledge, it is the only chapter that examines the effect of activating CG mechanisms on the association between CSR and TA.