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The partial privatization of state-owned enterprises (SOEs) is a dynamic process. The main feature of this process lies in not only gradual and sequential privatizations but also privatized shares transfer. For partially privatized SOEs, the introduction of private sector ownership is not the end of the story because the previously introduced private owners may choose to leave the SOEs by transferring the privatized shares after privatization, a process that is called “privatized shares transfer”. This paper aims to investigate the determinants of privatized shares transfer (PST) from the perspective of large shareholders’ control rights.

Considering the pyramidal structure of Chinese listed companies, this paper extends existing analyses to study the impact of the ultimate controller’s control rights on privatized shares transfer. This paper also investigates the relationship between excessive control rights of the largest controlling shareholder and PST in view of the principle of equity of rights and obligations. In addition to a perspective on the holding of key positions by large shareholders, this paper further explores the impacts of the ownership of the largest controlling shareholder on privatized shares transfer.

The results capture the fact that the higher control rights of large shareholders lead to more privatized shares transfer. After exploring the impacts of excessive control rights, the results provide evidence supporting the idea that firms with excessive numbers of directors, senior managers or supervisors who also have positions in the largest controlling shareholder’s entity are more likely to transfer privatized shares owned by private owners. In addition, the largest shareholders’ ownership also plays a role in privatized shares transfer.

This evidence suggests that the large shareholders’ control rights should be limited to an appropriate range during the process of privatization, thereby giving private shareholders more opportunity to participate in the operation of firms, strengthen the state and enhance the competitiveness of state capital.

The aim of this paper is to explore the opportunities and barriers facing senior executives in supporting boards of directors in assuming an enhanced strategic function.

Semi‐structured interviews with ten senior executives in four major publically listed Australian companies were conducted.

Senior executives can do more to enable the strategic functioning of their boards. However, barriers, both perceived and real, often prevent or deter them from doing so. The conclusion is that boards and senior directors need to forge a more productive relationship to better serve the company's interests.

The paper serves as exploratory research in an under‐researched topic and may provide a platform for further, in‐depth research. Limitations of the study include the small sample size and the fact that the study was restricted to Australia and therefore this study's conclusions may not be transferable to other countries.

Practitioners, especially senior managers and training and development specialists, may better identify ways in which directors can be assisted to contribute more to strategic processes.

The paper builds on existing literature by capturing the views of senior executives and presenting an Australian perspective. The paper explains challenges and opportunities for senior executives in developing closer working relationships with the company's directors

The purpose of this research paper is to explore the proposition that diversifying the board in terms of gender, ethnicity or skill base may require consideration of the specific strategic environment of the organisation. The proposition arises from the question as to whether or not greater diversity in board configuration is desirable in certain circumstances and considers the group dynamics, skill mix and capabilities that are required by boards under different conditions of change and strategic complexity.

The study examines the financial performance of New Zealand publicly listed companies over a five‐year period and focuses on changes in board composition, strategic activity and implications for corporate performance.

The study finds limited support for the idea that board configuration, strategic context and corporate decision quality may be linked.

This paper will be of particular value to those involved in the appointment of directors within the private and public sectors. In particular, it focuses discussion on the strategic environment faced by the organisation and the relevance of a range of potential selection criteria when appointing new directors. It is also of interest to researchers evaluating the value of social capital and gender equity in contemporary organisations as, based on empirical reseach, it challenges conventional thinking. By implication, the paper also questions whether or not boards are actually able to influence key outcomes in the manner expected by legislators.

The purpose of this paper is to help directors, senior management, and stakeholders of Islamic banks understand sharī‘ah risk, a crucial consideration in the corporate governance of Islamic banks, and its impact on these banks.

This conceptual paper links dispersed insights drawn from the emerging body of sharī‘ah governance literature, and the guidance issued by the Basel Committee on Banking Supervision (BCBS), the Islamic Financial Services Board (IFSB), and the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) with new insights to clarify the sharī‘ah risk that Islamic banks face.

Sharī‘ah risk, an operational risk, poses a credible hazard to Islamic banks and their stakeholders. Possible consequences of sharī‘ah non-compliance include higher costs, financial losses, liquidity problems, bank runs, bank failure, industry smearing and financial instability. This study defines shariah risk, identifies credit, legal, compliance, market, and reputational risk that it may evoke, and categorizes its causes and events.

Future research could empirically test the ideas posited. In this paper claims were substantiated by logic and examples.

The study devises an instrument for assessing sharī‘ah risk, and suggests measures for directors, senior management, and regulators to mitigate this risk.

This is the first study to focus on the implications of sharī‘ah risk, delineate examples of events and incorporate them within the BCBS operational risk causes, and develop a tool for measuring sharī‘ah risk.

The paper provides an invited “Viewpoint” from Professor Susan Vinnicombe, along with contributions from Professor Sharon Mavin, on women leaders’ progress on UK company boards and suggests areas for future research.

Draws on data from the annual UK The Female FTSE Board Report (2021) and The Hidden Truth Report (2022), tracking gender diversity on UK company boards. Professor Vinnicombe outlines reflections on progress, and jointly the authors highlight suggested areas for future women-in-leadership research.

The authors argue against the continued use of the business case for gender diversity and suggest a research agenda for future women-in-leadership research concerning: gender-aware Chairs of Boards and Chief Executive Officers and men allies; access and appointment to senior board roles; and bias in senior appointments. We suggest a return to examining barriers to women’s progress in middle management, the role of middle managers/leaders and the uptake and impact of established flexible ways of work at executive levels. New research is possible into how women leaders in top positions have a positive influence on gender diversity yet are discriminated against by various publics. The authors recommend further intersectional research as a priority for women-in-leadership research to enable further theorizing and feminist progress.

Professor Sue Vinnicombe has dedicated her academic career to questioning barriers to women’s progress in management/leadership and actively influencing organisational practice. Sue was influential in the field before her first co-authored papers were published in Women in Management Review (our predecessor) in 2001 and 2002. Professor Sharon Mavin is a previous co-editor of Gender in Management: an international journal. Her first papers were published in Women in Management Review in 1999 and 2001. Sharon is co-editor of the Special Issue, women-in-leadership research and feminist futures: new agendas for feminist research and impact on gender equality.

The purpose of this paper is to empirically analyze the impact of chief executive officer (CEO) turnover on strategic change and explore the mediating role of organizational slack between them, as well as the moderating role and joint moderating role of top management team (TMT) external social network, ownership nature and industry type.

Based on the upper echelons theory, resource allocation theory and structuration theory, this paper takes the unbalanced panel data of A-share listed companies in Shanghai and Shenzhen Stock Exchanges of China from 2001 to 2018 as the research sample, uses ordinary least squares (OLS) regression method and fixed effect model to study the relationship between CEO turnover and strategic change, and focuses on the mediating mechanism and moderating mechanism between them.

The authors find that CEO turnover is positively related to strategic change. When a CEO turns over, a new CEO will initiate strategic change. Precipitation organizational slack plays a mediating role between CEO turnover and strategic change. Non-precipitation organizational slack has no mediating effect between CEO turnover and strategic change, which is embodied as “suppressing effects.” When the non-precipitation organizational slack variable is controlled, the impact of CEO turnover on strategic change will be enhanced. TMT external social network, ownership nature and industry type all negatively moderate the relationship between CEO turnover and strategic change. TMT external social network and ownership nature have a joint moderating effect between CEO turnover and strategic change. When TMT external social network is small, CEO turnover has a positive effect on strategic change in both state-owned enterprises and non-state-owned enterprises, but the promotion effect is stronger in non-state-owned enterprises. When TMT external social network is large, the positive effect of CEO turnover on strategic change in state-owned enterprises is from strong to weak, but in the non-state-owned enterprises is from weak to strong. TMT external social network and industry type have a joint moderating effect between CEO turnover and strategic change. When TMT external social network is small, CEO turnover has a positive impact on strategic change in high-tech enterprises and non-high-tech enterprises, but the promotion effect is stronger in non-high-tech enterprises. When TMT external social network is large, the positive impact of CEO turnover on strategic change in high-tech enterprises is from strong to weak, but in the non-high-tech enterprises is from weak to strong.

On the basis of previous studies, this paper further expands the research scope of the mechanism of CEO turnover on strategic change, echoing the research arguments of relevant scholars. At the same time, the research results reveal the mechanism of organizational slack, TMT external social network, ownership nature and industry type in the relationship between CEO turnover and strategic change, and further deepen the application of upper echelons theory, resources allocation theory and structuration theory in China. In addition, the research conclusions of this paper also provide reference value for Chinese enterprises in carrying out strategic change, promoting enterprise transformation and improving the level of corporate governance, and help to enhance the understanding and attention of Chinese enterprises to CEO turnover, organizational slack, TMT external social network, strategic change and corporate governance under the background of high-quality economic development.

This study aims to explore the relationship between risk governance characteristics (chief risk officer [CRO], chief financial officer [CFO] and senior directors [SENIOR]) and regulatory adjustments (RAs) in Organization for Economic Cooperation and Development public commercial banks.

Using principal component analysis (PCA) and regression models, the research analyzes a representative data set of these banks.

A significant negative correlation between risk governance characteristics and RAs is found. Sensitivity analysis on the regulatory Tier 1 capital ratio and the total capital ratio indicates mixed outcomes, suggesting a complex relationship that warrants further exploration.

The study’s limited sample size calls for further research to confirm findings and explore risk governance’s impact on banks’ capital structures.

Enhanced risk governance could reduce RAs, influencing banking policy.

The study advocates for improved banking regulatory practices, potentially increasing sector stability and public trust.

This study contributes to understanding risk governance’s role in regulatory compliance, offering insights for policymaking in banking.

A key question in the provision of public health concerns how that provision is governed. The purpose of this paper is to examine the governance structure of a public health board and its perceived impact on the efficacy of clinical operations.

Structural issues examined the level of centralisation and public participation, and whether governance should occur through elected boards or appointed managers. These issues were examined through multiple lenses. First was the intention of the structure, examining the issues identified by parliament when the new structure was created. Second, the activities of the board were examined through an analysis of board meetings. Finally, hospital clinicians were surveyed through semi-structured interviews with both quantitative and qualitative questioning.

A contradiction was revealed between intention, perception and actual activities. This raises concerns over whether the public are significantly informed to elect the best-skilled appointees to governance positions.

This research holds implications for selecting governance structures of public health providers.

Few studies have looked at the role of a publicly elected healthcare governance structure from the perspective of the clinicians. Hence, this study contributes to the literature on healthcare structure and its impact on clinical operations, by including a clinician’s perspective. However, this paper goes beyond the survey and also considers the intention of the structure as proposed by parliament, and board activities or what the board actually does. This enables a comparison of intention with outcomes and perception of those outcomes.

The purpose of this study is to examine corporate governance practices in an emerging economy. It focusses on how ownership control and board control systems operate in corporate organisations in an emergent economy, assuming that these systems are essential for enhancing good corporate governance practices in emerging countries.

The paper builds on descriptive multiple-case study with multiple units of analysis to divulge how ownership control and board control systems function to ensuring effective corporate governance in publicly listed corporate organisations in Ghana. A criterion-based sampling technique is used to select the companies. Thereafter, three techniques of data collection are used to gather data from the companies: archival records, semi-structured interviews and observation.

By linking the gathered data to the paper’s theoretical propositions, the study highlights that all the companies are characterised by the presence of large shareholders, and, in consequence, they tend to exert extensive control over the activities of the companies through their involvement in the decision-making processes. However, whilst the presence of large shareholders has the tendency to solve the agency problem, it poses challenges in regards to minority shareholders’ interests in these corporate organisations. The study also reveals that boards of directors tend to exercise control over corporate organisations when majority shareholders stop interfering in their dealings. This implies that when major shareholders fully partake in corporate decision-making processes of companies, boards of directors seem to be sheer advisory bodies to management.

This is a paper to shed light on corporate governance practices in four large publicly listed corporate organisations on the Ghana Stock Exchange, so the observable facts do not apply to other emergent economies. In addition, the sample does not represent all corporate organisations in Ghana; thus, the empirical observations cannot be generalised to other organisations that have not been included in this study. However, the empirical results can be applied to other similar corporations in Ghana and other emergent economies in an analytical sense. With the application of inductive reasoning, the results can be applied to provide important appreciation in an effort to understand the structure of corporate governance practices in organisations in developing countries.

A comparative analysis of the empirical observations from this study and the recommended guidelines of corporate governance of Ghana has been carried out, and aspects in which organisations need to reform and improve to fully comply with the guidelines are highlighted: director independence, director evaluation, introduction of new directors and board education. This could possibly be the foundation upon which corporate governance structures in these organisations can be restructured and further enhanced.

The majority of the studies of corporate governance in emergent economies have used quantitative techniques to examine the relationship between corporate governance mechanisms and firm performance. However, this study takes a different approach to examine corporate governance practice in an emergent economy by using a comprehensive and defensible qualitative analysis to examine relations between ownership structure and shareholder control, and board of directors and board control. In addition, it highlights how ownership and board control systems interact in corporate organisations in emergent economies.

Scholars working in the strategy area have long held that one of the primary ways in which organizations adapt to external changes is through strategic choice. Inasmuch as a new CEO can result in a new strategic direction for the firm, the CEO turnover event itself is an important way by which organizations can signal an alteration in the direction of the firm. In this chapter, we explore how and why CEO turnover has become one of the most powerful indicators of adaptation the firm can make and propose a research agenda to guide future work on CEO turnover.