Journal of Governance and Regulation: Volume 8, Issue 1 has been published
We are pleased to present the first issue of the Journal in 2019. The current issue of the Journal of Governance and Regulation focuses on some key topics that spread from the description of the forthcoming globalization scenario, to the investigation of banks’ and financial institutions’ governance mechanisms within specific countries, and finally to the analysis of the interlocking network phenomenon in a specific country’s stock market.
Ivo Pezzuto opens this issue providing a qualitative analysis that starts from the description of the environment, investigates the key forces and uncertainties, depicts different potential scenarios, and assesses the impact of alternative situations. The paper aims to provide an overview of the major opportunities and challenges of the fourth phase of globalization in the current macro scenario characterized by a high level of economic and geopolitical complexity and uncertainty. The author confirms the central and positive role that disruptive innovation is likely to have in the near future as a major driver of a change in the economic and social models of many countries.
Hesham Albarrak and Sherif El-Halaby focus on the relationship between disclosure and financial performance of Islamic Banks under the Islamic law. They show how that compliance with Islamic governance standards has a positive effect on enhancing disclosure and this affects positively the financial performance of Islamic banks (ROA and Tobin’s Q). This paper measures the consequences of Sharia disclosure over the financial performance of IBs as well as the role of Islamic standards (AAOIFI) in enhancing the image of Islamic banks through supporting their compliance with Sharia.
Hussein Salia, Emmanuel Budu Addo, Nicholas Adoboe-Mensah examine a case study on the banking industry in Ghana and they investigate how weak corporate governance systems, namely not functioning audit committees, could negatively impact on banks financial performance. The paper promotes the presence and effective functioning of the audit committees as an additional layer to strengthen the monitoring and supervisory functions within corporate bodies.
Anthony Wood and Keisha Small provide an assessment of corporate governance mechanisms in financial institutions in Barbados. Authors conclude that these banks perform high average corporate governance scores and they posit that this result is due to the fact that Barbados Banks are affiliates of foreign-owned financial institutions. This means that Barbados Banks are monitored by multiple local, regional and international regulatory agencies.
Hatem Elfeituri proposes a contribution that is focused on the productivity of 11 MENA countries’ Banks after the financial liberalization. The analysis covers a 1999-2012 observation period and the results show that banking productivity is improved by financial reforms and technological progress. The paper investigates whether deregulation and economic reforms have transformed the MENA banking sector into a more productive and efficient sector.
Davide Carbonai presents a network analysis to show the level of interlocking directorates within the listed companies in Brazil. Therefore, the author shows how the Brazilian antitrust law is quite ineffective in hindering this phenomenon. The present paper explores this paradox by analyzing a social network of 347 Brazilian listed companies.
To access the issue of the journal visit this page.
The Journal of Governance and Regulation is published quarterly on the rolling basis. Currently, we call for papers for the next issue of the journal to be finalized in June, 2019. For instructions for authors please visit this page. In order to submit a manuscript, please contact the managing editor of the journal Daryna Chorna directly at d.chorna[at]virtusinterpress.org
We hope that you will enjoy reading the journal and in future we will receive new papers, outlining the most important issues and best practices of governance and regulation!