New issue of Corporate Law & Governance Review journal
The editorial team of Virtus Interpress is honored to present the third issue of the journal “Corporate Law & Governance Review” in 2024.
The published papers are dedicated to the familiar issues around mechanisms for effective corporate regulation, and the less familiar ones around Shariah-compliant financial structures which are less prevalent in the academic literature, and the most concerning and novel developments of our era — artificial intelligence.
The first research paper by Gazmend Deda, Arben Tërstena, Sokol Krasniqi, and Stela Todorova experimentally examines the influence of corruption control (CC), lending interest rate (LIR), regulatory quality (RQ), government effectiveness (GE), and domestic credit to the private sector (DCPS) on the ease of doing business (EDB). To reach the expected objective, the investigation employs balanced data for all six countries of the Western Balkans, covering the period 2014–2020, employing regression analysis with fixed effects. The discoveries of the investigation will be beneficial to the expansion of existing literature in the academic sphere and serve as avenues for proactive discussions among business managers, and students, as well as the policy-making structure concerning the possible implications that can be drawn based on the results of the research.
Suparman Marzuki and Mahrus Ali investigate judicial ethics violations in Indonesia and suggest remedies for the problem. The authors aim to understand the types and causes of these violations and inform potential legislative changes. The main findings of the paper highlight the various forms of ethical violations, including lack of professionalism, discipline, fairness, honesty, and integrity. The authors highlight the relevance of the research findings in informing potential amendments to legislation and promoting transparency, accountability, and ethical conduct among judges.
The paper by Alalddin Al-Tarawneh, Mohammed Al-Badawi, Wafa Abu Hatab aims to highlight the significance of translation in modern governance by examining the challenges, best practices, and impact of translation in rule-making, policy implementation, and stakeholder engagement. By conducting an in-depth scan of literature concerning policymakers, translators, and other key stakeholders to collect rich qualitative data on governance documents, the paper demonstrates how translation enhances transparent communication and facilitates meaningful engagement with stakeholders.
The main findings of the paper by Enisa Haliti-Mustafa, Sevdai Morina, and Valon Mustafa are notarial systems, which analyze and present an overview of the role of notaries and their impact on issues and changes in notarial acts, and an overview of high-impact research for young researchers in the field of notarial systems. As a conclusion, the research results show the effectiveness of notaries in dealing with legal issues.
Siti Malikhatun Badriyah, R. Suharto, and Retno Saraswati analyze the impact of the COVID-19 pandemic on lease agreements (leasing) in the non-banking financial sector, particularly in financing companies. This research is conducted through a normative juridical research method. The main findings of the study show that credit restructuring is a government solution to address installment payment difficulties, especially for micro, small, and medium-sized enterprises (MSME) debtors. The authors also address legal certainty issues in lease agreements, mainly due to regulatory gaps in the Civil Code.
Claudio D’Alonzo’s paper aims to investigate some of the legal issues related to the International Convention on the Contract for the International Carriage of Goods by Road (CMR). The findings show that for the transport of dangerous goods, specific obligations rest upon the sender, which lead to specific liabilities in the case of their infringement. It follows that liability does not lie only with a carrier. As a result, it seems more correct to discuss liability deriving from the transport of dangerous goods rather than carriers’ liability.
The next research paper by Mukhtaruddin, Yulia Saftiana, Susanto Hendra, Muhammad Teguh, and Umi Kalsum investigates the association between Pancasila corporate governance (PCG) and firm value (FV). Up to 66 samples were collected for the years 2009 through 2018 after the sample was chosen based on specific criteria. This study concluded that while nationality and divinity had no effect on FV, human rights, leadership, and social welfare did have a substantial impact on FV.
Supiah Salleh, Muhammad Iqmal Hisham Kamaruddin, Zurina Shafii, Mustafa Mohd Hanefah, Nurazalia Zakaria, Wan A’tirah Mahyudin, and Nur Amni Mahmud Sabri focus on the inclusion of Shariah governance and audit best practices in Islamic co-operatives in Malaysia. Based on the findings, there is an existing expectation-performance gap in regulations, frameworks, and guidelines; independence and competency; and Shariah audit scope in governing Shariah compliance principles in Islamic co-operatives. This is crucial because well-developed regulations, frameworks, and guidelines in Shariah governance and audit will increase stakeholders’ trust that the activities and operations of Islamic co-operatives are Shariah-compliant. Additionally, providing a standardized framework will help manage risks in Islamic co-operatives and, in the broader context, contribute to the industry’s and the economy’s growth by offering stakeholders adequate information to make informed decisions.
Amer Morshed, Mohammed Daoud Othman, and Asma’a Al-Amarneh examine the application of the expected credit loss (ECL) model under International Financial Reporting Standards (IFRS) 9 to Islamic Sukuk, which indicates that accountants do not regard any gap between Islamic financial instruments and IFRS. Since Sukuk have special features according to Islamic finance, such as the non-usage of interest (riba) and risk-sharing, this paper reviews the issues and possible modifications that may be required for their compliance with both Sharia and international accounting standards. This research is hence relevant and contributes valuable practical considerations to the literature for policymakers and practitioners in Islamic finance and accounting toward aligning Islamic financial products with international standards.
The next study by Bedri Peci and Fitim Gashi focuses on the protection of customer rights in the banking sector within selected Western Balkan countries, emphasizing the roles and legal competencies of central banks. The research aims to identify best practices and areas for improvement, particularly in Kosovo. The findings suggest that while strides have been made in customer protection, further regulatory improvements and financial literacy initiatives are needed.
The research by Luftim Cania and Llambi Prendi aims to investigate the connection between talent management practices and job satisfaction among skilled employees in corporate settings in Tirana and Durrës, Albania. The research focused on five critical aspects of talent management: performance and engagement, collaboration and communication, impact on business results, initiative beyond defined roles, and broader influence on the company. The study emphasizes the importance of effective talent management in improving employee satisfaction and organizational performance.
Mohammad Al-Mahameed addresses the procedures to develop a legal framework for corporate governance amid artificial intelligence technology in Jordanian legislation. The results demonstrate that the Jordanian legislation is still in the process of organizing and legalizing the concept of artificial intelligence in the Jordanian Companies Law and the principles of commercial companies’ governance. With that, this article recommends that the Jordanian legislator should amend the law that regulates artificial intelligence issues in the governance of commercial companies to keep up with the development in the era of the digital economy.
The final research paper by Karem Sayed Aboelazm aims to study the recent developments in appealing public procurement contracts by examining the expansion of the administrative judiciary in Egypt in accepting appeals filed against contracts concluded by the state to invalidate contracts tainted by the waste of public money.
You are welcome to browse the full issue at the following link.
We hope that reading this issue will be pleasant and informative for you!
