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We investigate whether the corporate social responsibility (CSR) of Chinese companies has a certain impact on firm value, and further, depending on the level of corporate governance, how the impact of CSR on firm value changes. First, CSR activities generate a positive effect on firm value suggesting that companies may have an incentive to be willing and to continue to perform their CSR activities. Second, if the ratio of the largest shareholder`s stake is low (high) or the gap between the largest and the second-largest shareholder`s stakes is small (large), CSR activities lead to a significant positive (negative) impact on firm value. Third, we find a positive impact for firms with high management or auditor ownership and for firms whose CEO and chairman of the board are not the same person. Interestingly, due to the fact that significant numbers of outside directors of Chinese companies are appointed by the largest shareholders in China, CSR activity may be used to better align the company with the private interests of the largest shareholders than with the interests of other shareholders, thus lowering firm value. Lastly, if the company`s largest shareholder is the country government, CSR has a positive impact on firm value. In this case, the largest shareholder―the country government―carries out CSR activities for social benefit because such a benefit is naturally aligned with the country`s interests in the company. This paper also sheds light on Chinese companies` corporate governance structure that enhances socially responsible activities and firm value. Our results suggest that good governance provides incentives to voluntarily and continuously perform socially responsible activities.

Many have advocated for collaborative governance and the participation of citizens and stakeholders on the basis that it can improve the environmental outcomes of public decision making, as compared to traditional, top‐down decision making. Others, however, point to the potential negative effects of participation and collaboration on environmental outcomes. This article draws on several literatures to identify five clusters of causal mechanisms describing the relationship between participation and environmental outcomes. We distinguish (i) mechanisms that describe how participation impacts on the environmental standard of outputs, from (ii) mechanisms relating to the implementation of outputs. Three mechanism clusters focus on the role of representation of environmental concerns, participants' environmental knowledge, and dialogical interaction in decision making. Two further clusters elaborate on the role of acceptance, conflict resolution, and collaborative networks for the implementation of decisions. In addition to the mechanisms, linking independent with dependent variables, we identify the conditions under which participation may lead to better (or worse) environmental outcomes. This helps to resolve apparent contradictions in the literature. We conclude by outlining avenues for research that builds on this framework for analysis.

In this research the background and content of Decentralization has been researched which nowadays supposed to be among key reforms and requires Ukraine and our society from the early 1990s. Іmplementation should open many new abilities and opportunities to build strong civil society, fight overpowering corruption, making local authority as well as community members more responsible for the most essential issues. And despite of the total administrative bureaucracy, inherited from soviet past, negligible negative propaganda, lack of well-prepared staff, influence of oligarchs and their allies, war with Russia and other problems nevertheless does not give officials chance to postpone the development of amalgamated self-sufficient communities. Any kind of "delay" can not only offend majority of proeuropean Ukrainian activists but might mark next wave of debate about "special status" of some territories in Ukraine.
Keywords: Decentralization, local self-governance, self-sufficient communities, deputy

AbstractPost‐crisis international standards have been agreed on in certain areas of banking regulation, namely capital, liquidity, and resolution, but not others, namely bank structure – why? We articulate a two‐step analytical framework that links the domestic and international levels of governance. In particular, we focus on the role of domestic regulators at the interface between the two levels. At the domestic level, regulators evaluate externalities and adjustment costs before engaging in cooperation at the international level. This analysis explains why regulators in the United States and the European Union act as pacesetters, foot‐draggers, or fence‐sitters in international standard setting; that is to say, why they promote, resist, or are neutral toward international financial standards. At the international level, we explain the outcome of international standard setting by considering the interaction of pacesetters and foot‐draggers.

AbstractDrawing on the literature on the market and normative power of the EU, we document and explain the limited success of the EU in transferring its environmental standards with respect to sustainable biofuels governance to the world's two largest biofuels producers – the US and Brazil – and to two international standard setting organizations, the International Organization for Standardization (ISO) and the Global Bioenergy Partnership (GBEP). Our explanation highlights four factors: first, the extent to which EU strategies to strengthen its market power can undermine its normative power; second, the limits to EU policy influence posed by other actors' use of their own market and normative power resources; third, the diminished influence of a late policy‐mover; and fourth, the difficulty of establishing normative leadership in a policy field subject to epistemic contestation.

<p>The purpose of this study was to analyze the effect of communication, governance and financial capacity on service quality and lecturer performance. The population in this study is 2,381 lecturers in Makassar area, slovin formulation was used to obtain 342 lecturers as a sample. Data from the questionnaires were analyzed using Structural Equation Model using AMOS Ver. 18. The study found that the communication and governance positive and significant effect on service quality, financial capability has a negative and no significant effect on service quality. Communication and financial capability has a positive and significant effect on lecturers performance, while the governance positive and insignificant effect on lecturers performance. Service quality has a positive and significant effect on lecturers' performance. Indirectly for variable i.e. service quality as a mediating role has a positive and insignificant in explaining the effect of communication on lecturer performance, Service quality as a mediating role has a positive and insignificant in explaining the effect of governance on lecturer performance. On the other section, service quality as a mediating role has a negative and significant in explaining the effect of financial capabilities on lecturer's performance.<em></em></p>

This study leverages multinational corporations (MNCs) as a research context to advance our understanding of the relationship between internal and external fit over the course of the transfer of organizational practices. While internal fit describes the important condition that a practice should be aligned with organizational goals and must gain support internally, external fit refers to an additional condition for successful transfer, namely, that a particular practice must gain and sustain support and legitimacy in the environment. Studying two German MNCs transferring apprenticeship-based training to foreign operations in the United States, this paper starts from the key observation that organizations can use different governance modes to organize the transfer process: they may either go it alone and organize transfer in a hierarchy mode, or they may partner up with other organizations and form an interorganizational network for transfer. Using rich qualitative data, this paper finds that different governance modes affect the ability to attain internal and external fit by revealing a critical trade-off: while hierarchy helps create internal fit, it comes with significant additional costs to attain external fit; conversely, using the network mode facilitates the creation of external fit, but involves making compromises that reduce internal fit. Based on these findings, I theorize that different governance modes (hierarchy versus network) work through distinct processes (autonomous versus collaborative), driven by unique mechanisms (inward versus outward orientation), to influence outcomes in terms of internal and external fit. The study contributes to the literature by shifting attention to the implications of different governance modes for transfer processes.

AbstractThis paper points out the problems of the current law on directors' duties that forces directors to ignore stakeholder interests, with the unintended consequences of misallocation of resources and the weaknesses of a traditional legal approach to law reform, and uses multiple stakeholder boards as an example to demonstrate how an economic efficiency approach to law reform, adopting economic principles, could avoid some of the unintended consequences of a legal approach to law reform and help design better rules that promote allocative efficiency for the benefit of society as a whole. It argues that international organizations should take the lead in promoting the use of stakeholder directors in the board of directors of multinational corporations that have a history of corporate abuses for corporate decisions that have an impact on all stakeholders.

AbstractThis article contributes to current debates on the potential and limitations of transnational environmental governance, addressing in particular the issue of how private and public regulation compete and/or reinforce each other – and with what results. One of the most influential approaches to emerge in recent years has been that of "orchestration." But while recent discussions have focused on a narrow interpretation of orchestration as intermediation, we argue that there is analytical traction in studying orchestration as a combination of directive and facilitative tools. We also argue that a social network analytical perspective on orchestration can improve our understanding of how governments and international organizations can shape transnational environmental governance. Through a case study of aviation, we provide two contributions to these debates: first, we propose four analytical factors that facilitate the possible emergence of orchestration (issue visibility, interest alignment, issue scope, and regulatory fragmentation and uncertainty); and second, we argue that orchestrators are more likely to succeed when they employ two strategies: (i) they use a combination of directive and facilitative instruments, including the provision of feasible incentives for industry actors to change their behavior, backed up by regulation or a credible regulatory threat; and (ii) they are robustly embedded in, and involved in the formation of, the relevant transnational networks of actors and institutions that provide the infrastructure of governance. © 2017 JohnWiley & Sons Australia, Ltd

The present study investigates the link between quality of governance and stock market performance within the context of international markets. The study employed the Fixed Effect model using 23 countries with complete relevant data for the period spanning from 1996 to 2014. The study reveals that, quality of governance as captured by Voice and Accountability, Political Stability and Absence of Violence, Government Effectiveness, Regulatory Quality, Rule of Law and Control of Corruption significantly affect stock market performance. Varying effects are produced when the countries are decomposed into income classifications. What is more, the findings and suggestions of this study suggest that quality of government significantly affect foreign direct investment and could have interesting policy implications. The main value of this paper is to examine the link between quality of governance and stock market performance within the context of international markets.