Companies worldwide strive to become more sustainable, and, in this context, the circular economy (CE) gains importance as alternative system as opposed to the linear economy. Since executive mangers around the world work with management systems (MSs) to guide and improve organizational operations, this work aims to explore how integrated MSs (IMS) as business tools can contribute to the adoption of CE principles at the corporate level. To achieve this objective, a systematic literature review is performed, which results in a synthesis sample of 18 academic papers. The findings reveal how MSs contribute to CE adoption and, therefore, demonstrate that managers can use IMS to foster CE implementation. In addition, the findings highlight the importance of institutional intervention in the transition from a linear towards a circular designed economy. The paper contributes to academia by linking the concepts of IMS and CE, synthesizing the current academic knowledge at hand, and proposing a comprehensive research agenda that sets the path for future academic investigations. In a practical perspective, the paper contributes also to managers since it emphasizes how IMS can be used to incorporate circular business thinking into operations management.

Investing in different futures is an existential challenge that much research within and adjacent to Ecological Economics engages with, yet organizations that recognize this social ecological imperative have few options for funding and implementing radical transformations to the needs and well-being provisioning systems that currently exist. Ecological macroeconomic ideas and EE principles of long-term well-being and justice on a livable planet will be explored in the context of the housing crisis in Canada, and a rural Ontario community organization attempting to find transformative solutions to the lived, local experience of this crisis. Provisioning systems for housing, when tied to real estate markets, debt money creation, land enclosures, and financialized supply chains, contribute to capital accumulation cycles; it is hardly possible to meet our housing needs, in aggregate, without also perpetuating the form of this provisioning system. The idea presented here, that of Capital Sequestration, proposes to remove capital from markets and ‘invests’ this capital in land trusts as an intentional transformation of financial capital into social and ecological values. Through land and housing trusts as well as non-market funding pathways, Capital Sequestration is a method of investing in the transformation of provisioning systems through the sustained and collective boundary management of financial markets and incommensurable values. This practice offers significant promise as it applies ecological macroeconomic theory work, is grounded in the normative goals of and emerges from empirical research of EE, and meets a pressing need within society for imagining alternative economies.

This paper investigates on the implementation Sustainable Development Goals (SDGs) in Iran. It generates a systems dynamics model for exploring possibilities for achieving four SDGs: SDG-1 (eradicating poverty), SDG-8 (economic growth and decent work), SDG-12 (sustainable production and consumption), and SDG-13 (climate action) in Iran. The model is used to generate four possible stories about the implementation of measures to achieve these SDGs in the future of the Iranian economy from 2020 to 2050: 1) the Scenario of Business as Usual continues current trends and projects them into the future, 2) the Scenario of Inclusive Growth is designed to simulate more income equality and faster economic growth, 3) the Scenario of a Steady State introduces measures to improve social, and environmental aspects while having zero economic growth, and 4) the Scenario of Well-being for People and Planet is designed to improve socio-economic and environmental aspects of the Iranian economy to achieve the four SDGs in Iran. The performance of the Iranian economy for progressing towards the SDGs is monitored through four SDG indexes which are measured based on the arithmetic mean of selected indicators for each SDG, and a Combined Index of SDGs which is measured based on the arithmetic mean of the four SDGs indexes. The results of the simulations of the SDGs model of Iran shows that the transformational scenarios (Steady State, and Well-being for People and Planet) provide better pathways in comparison to conventional scenarios (Business as Usual and Inclusive Growth) for achieving the SDGs. Moreover, this study find that transformational policy changes and extraordinary efforts are required for progress in achieving SDGs in Iran.

Purpose: The purpose of this study is to find out how the influence of the disclosure of sustainability reporting on the value of state-owned enterprises (SOEs). Research Methodology: The research approach used quantitative. This research sample selection method uses a purposive sampling method with a total of 8 SOEs listed in IDX that meet the criteria. Results: sustainability reporting has a significant negative effect on firm value, this indicates that the disclosure of Corporate Social Responsibility (CSR) by the company reduces the value of state-owned companies listed on the BEI. Most companies only focus on financial factors and companies pay less attention to non-financial factors such as CSR, it can be seen that the level of CSR disclosure made by the company is very low. Limitations: Data limitations then this study only uses a sample of SOEs listed in IDX and does not add good corporate governance variables to improve the relationship between sustainability reporting and company’s value. Contribution: based on stakeholder theory to improve the relationship between stakeholder and company, SOEs must disclose CSR activities to improve the organization image and impact on the increasing value of the firms. Adding GCG as a moderation variable can maximize sustainability reporting in SOEs.

Purpose: The present study examines the relationship between profit quality and return and risk. Design/methodology/approach: The research hypotheses are tested using a sample consisting of six industries listed on the Tehran Stock Exchange during the years 2014 to 2019 and using multiple regression based on the technique of integrated data and t-test. Findings: The findings indicate that there is a significant positive relationship between profit quality and return and investment risk. The first hypothesis of the effect of return and risk on the quality of profit is accepted and the second hypothesis rejected. Practical implications: The capital market, by directing stagnant micro-capitals to the production process, has played an important role in the economies of countries and acts as an important economic indicator. Therefore, it is necessary to pay attention to the basic decision- making principles of this type of market, especially in Iran, which has a young literature on this subject.

Purpose: The purpose of this research was to investigate the relationship of a CEO’s organizational and personal characteristics and firm performance. This study also examines how debt-to-equity ratio (capital structure) mediates the impact of CEO’s characteristics toward firm performance. Manufacturing companies listed on Bursa Efek Indonesia (BEI) between 2016 and 2019 are the focus of this study. Design/methodology/approach: The research sample is chosen using the purposive sampling approach. The SmartPLS software was used to evaluate the data in this investigation. This study uses Tobin’s Q as measurement of firm performance. The tenure, age, gender, and education of a CEO are all factors to CEO’s characteristics. Debt to equity ratio will be used as capital structure. Findings: The results of this study show that CEO’s tenure has significant positive impact on firm performance. CEO’s characteristics (age, gender, education) show a positive but insignificant impact on firm performance. Finally, the debt-to-equity ratio does not serve as a mediating factor in the link between CEO's characteristics and firm performance. Practical implications: These findings will be extremely beneficial to management in terms of improving a firm's performance by controlling the qualities of a CEO. Originality/value: This article adds to the body of knowledge in the field of firm performance research which explored the function of capital structure in mediating the influence of CEO’s characteristics on firm performance.

Purpose: This study was motivated by the fact that despite several recommendations being proffered by researchers, some of these noble suggestions just remain in paper. Furthermore, the problem of transfer pricing (TP) manipulation is more detrimental to the African continent as well as the fact that it is far from being addressed. Through a scoping review, this study sought to synthesise research evidence on the possible solutions to minimise transfer pricing manipulation in African countries through categorisation of these recommendations into key themes. Methodology: This study employed a qualitative research approach through a scoping review. Through a comprehensive review of literature, the nature and extent of the possible solutions to curbing illicit financial flows through transfer pricing was identified, assessed and evaluated for applicability. Considering that transfer pricing is a hot topic and legislation is still in its infancy in African countries, database searches were done through Google scholar for both peer reviewed articles and grey literature. Findings: The findings revealed that solutions can be grouped into three categories, which include politically oriented, legislative focused and administrative recommendations. It was evident that there is need for political commitment by governments, improvements to the current legislation as well as enhanced administrative capacities of revenue authorities in order to reduce TP abuse. Originality or Value: Transfer pricing manipulation in international trade is a challenge in most developing economies. Transfer pricing and tax evasion are important and topical concerns as they relate to base erosion and profit shifting in developing countries. This is linked to the fact that ethical practices, corruption, illicit financial flows and other similar concepts speak to Sustainable Development Goal 16 (peace, justice and strong institutions). In response to challenges of transfer pricing and the need to ensure maximum revenue mobilisation, developing countries have put in place transfer pricing legislation to regulate transfer pricing activities and to reduce the tax revenue losses resulting from transfer pricing manipulation by multinational enterprises. Several studies have been carried out in African countries to investigate the transfer pricing exploitation strategies, assess the effectiveness of transfer pricing legislation in curbing Base Erosion and Profit Shifting. This study sought to provide an aggregated synopsis of recommendations on how to enhance legislation and effectiveness of the regulation, with the hope that this summary would provide policymakers with a one-stop shop for possible solutions as well as evaluating their applicability.

Purpose: The study set out to understand how auditors assess a company’s tone at the top, as an integral component of audit risk which is a significant part of forming an audit opinion. Methodology: The study followed a qualitative exploratory multiple-case research design, using individual semi-structured interviews to collect data from audit partners and a group interview to collect data from inspectors from the audit regulatory body. Findings: The findings provided insights into the procedures how ethical leadership and an ethical organisational culture, which were deemed central to a company’s tone at the top, were assessed. Despite these assessments being done before and throughout an audit, assessments before an audit seemed to be emphasised. While the audit engagement partner took responsibility for tone-at-the-top assessments, audit files contained limited evidence of such involvement. Originality/Value: The insights from this study could be useful to auditing firms in enhancing their audit methodologies and training programmes on assessing a company’s tone at the top and the documentation thereof, specifically during the planning of an audit and to evidence audit engagement partner involvement. The findings may also inform the audit regulatory body in providing best-practice guidelines to auditors on the assessment of a company’s tone at the top. Despite the study’s South African orientation, the findings are globally relevant, given the inclusion of the Big 4 auditing firms and firms adhering to the International Standards on Auditing.

Purpose: Cost behaviour is the response of costs to changes in the volume of activity of businesses. In the literature, cost behaviour is discussed in two ways: symmetrical and asymmetrical. Firstly, this study aims to analyze the data on sales revenue and cost items related to sales of Small and Medium-Sized Enterprises (SMEs) with the help of the ABJ model in terms of cost stickiness. Another aim of the study is to determine the decision-making styles of the managers who make investment decisions in these enterprises. Thus, cost stickiness can be interpreted in terms of the manager’s decision- making style in the companies that make up the sample. Methodology: A balanced panel data analysis method was used to test the cost stickiness levels in the study. The decision-making styles scale was used to determine the decision-making styles of the managers. Findings: The study concluded that the cost stickiness theory was valid for all variables in a one-year period, while the stickiness level of only general management expenses decreased in a two-year period. In addition, it has been determined that the managers of the enterprises adopt the rational decision-making style. Originality/Value: To measure the cost stickiness level of a business, various cost and revenue figures that occur in that business over long periods are needed. Companies do not want to share this data with third parties or institutions for various reasons. For this reason, studies on cost stickiness have been carried out on large- scale enterprises that have to offer their financial statements to the public. The originality of this study is that it tests the theory of cost stickiness for small and medium-sized enterprises. In addition, it is thought that the study is important in terms of considering cost stickiness together with the decision-making style of the manager.

Purpose: This research was conducted to test whether ownership structure has an influence on earnings management using the control variables of leverage, company size, profitability, and company growth. Moreover, this research aims to find out what type of ownership has more influence on earnings management in Indonesia therefore the authors focus on all types of company ownership as independent variables. Design/methodology/approach: The purposive sampling method is used for the selection of the research samples. This research uses non-financial companies listed on the Indonesia Stock Exchange from 2016 to 2019 as research objects. Earnings management is measured using discretionary accruals which is a Modified Jones Model. The ownership structure is calculated from the percentage of each share ownership in the company. Findings: The results of this research indicate that there is no significant effect of ownership structure on earnings management in Indonesia. Only leverage, company size, and company growth have a significant positive effect on earnings management. Practical implications: This research is useful for improving decision making for corporate governance, as well as providing information to academics about the influence of the supervisory role of ownership structure on earnings management. Originality/value: This article expands on previous research by including the type of ownership structure as an independent variable and examines its effect on earnings management in developing countries.

In an environment where competition is becoming increasingly fierce, the primary concern of entities is to find effective solutions to cope with the risks to which they are exposed. In this context, through the entire collection of mechanisms available to corporate governance, companies can limit their risk exposure and thus achieve their goals more quickly. This research aims to study the relationship between the characteristics of corporate governance and the financial performance of the top 65 listed American companies. The research was carried out over a period of 5 years (2015-2019). Regarding the characteristics of corporate governance, four variables were used: the duality of the CEO, the size of the Board of Directors, the independence of the Board, and the frequency of its meetings. In addition, to reflect financial performance, we tracked the rate of financial return (ROE) and return on assets (ROA). The data were processed using the SPSS statistical program, using multiple linear regressions as the quantitative method. The analysis results indicate the existence of a significant positive relationship between the variable of corporate governance represented by the frequency of Board meetings and the financial performance expressed by ROA and ROE. However, variables relating to the duality of the CEO, the size and the independence of the Board were statistically insignificant.

Green concrete is concrete produced using waste materials obtained from various sources to develop an eco-friendly construction and reduce carbon emissions. The present experimental study is carried out to produce concrete using waste material from different industries to partially replace traditional concrete. Many research studies have been made using different waste materials which are available and useful as a replacement. The present study deals with industrial waste such as foundry sand (FS) and ground granulated blast furnace slag (GGBS) in the concrete so that the emission can be reduced and contribute to the environment. This study prepared two mixes for M35 Grade by replacing industrial wastes partially in the concrete mix. The first mix was prepared by partially replacing foundry sand with fine aggregates in proportions of 15%, 20%, 25% and 30%. The second mix was prepared by partially replacing the ground granulated blast furnace slag with cement in proportions of 30%, 40% and 50%. Test results were conducted to check the workability and compressive strength of the mixes prepared. These were then compared with the properties of conventional concrete at the end of 7 and 28 days. Test results indicate that 25% of FS and 30% of GGBS are the optimum percentages of industrial waste to use compared to conventional concrete properties at the end of 7 and 28 days. The present study also indicates the economic benefits of partially replacing the waste materials by reducing carbon emissions, and the study is beneficial to produce eco-friendly green concrete.

Purpose: This study aims to determine the effect of perceptions of the values karma phala teachings and psychological costs on the compliance of hotel tax payments that have been collected by hotel taxpayers in the Badung Regency. Methodology: This research was conducted at 226 star hotels in the Badung Regency. The sampling technique in this study used a probability sampling method and the sample size was calculated using the Slovin formula. The number of samples analyzed in this study was 52 respondents. The data analysis technique uses multiple linear regression. Findings: Based on the results of the research analysis found that the perception of the values of the teachings of karma phala and psychological costs have a positive effect on the compliance of hotel tax payments in the Badung Regency. Originality/Value: This study aims to determine by testing empirically the effect of perceptions of the values of Karma Phala teaching and psychological costs on hotel tax payment compliance that has been collected by hotel taxpayers in the Badung regency.

It has long been acknowledged that the various burgeoning problems inflicting the world are deeply rooted in human behaviour. Governance often entails policy formulation and strategies that initiate behavioural change to alleviate such problems and foster sustainability. However, this often appears as a strenuous endeavour, especially at the macro level. For this reason, implementing the behavioural spillover mechanism is deemed befitting. Few studies have directed their attention towards the relationship of individuals’ sustainable behaviour across different settings, and such a perspective could indicate the way forward required within various future policy frameworks. Hence, the following intervention study attempts to examine behavioural spillover, which entails the transfer of attitudes from one domain to another, in this case, from a work-home perspective. This chapter builds upon such notion through a case study from the Maltese islands, the smallest EU member state, by providing insights from public officers. Such sampling population was selected as these individuals work closely within governmental structures and should act as agents of change in this regard. The methodological framework employs a positivist paradigm, based on a quasi-experimental design through an identical pretest and posttest Likert-scale questionnaire distributed to 14 public officers who undertook an educational module about sustainability at the University of Malta. These tests aimed to examine whether spillover of sustainable behaviour occurs within a spatio-temporal context - across the two different domains and during the entire intervention adopted. Quantitative findings are utilized to address two core research questions, from which various trends have been identified. Results show that positive spillover occurs for those behaviours which involve the least time, cost, and effort. It transpires that respondents are not willing to adopt drastic lifestyle changes. Such findings lay the foundation for the recommendations delineated in the current study, which might be helpful to other practitioners in public policy, management, and sustainable development.

Purpose: The objective of this study is to examines the impact of financial leverage on the performance of listed manufacturing companies in Sri Lanka. Methodology: The present study employed ratio analysis to examine whether the financial leverage in listed manufacturing firms in Sri Lanka affected their performance involving the financial performance indicators of return on assets (ROA), return on operating assets (ROOA), return on net operating assets (RNOA), return on equity (ROE) and the impact on the financial level indicators as the debt to equity (DE) and financial spread. Findings: The results found both a positive and negative relationship between financial leverage and the firms’ performance using two different methods of analysis (overall business analysis and main business analysis). The overall business analysis showed a positive relationship between financial leverage and firm performance, which supports the agency cost theory of financial leverage, whereas the main business analysis showed a negative relationship between financial leverage and the firms’ performance Originality/Value: The article presents significant evidence in terms of its scrupulous approach towards checking the toughness of results. The article offers insights to the capital structure and the performance of manufacturing companies in Sri Lanka which helps to investors, managers and debtors on their investment decision.

Introduction: The Republic of Kosovo, as a new democratic state and independent in 2008, has managed to create a stable financial system over the last decade. The importance of this scientific research lies in the fact that through this study we understand the impact of public debt on economic growth, debt management by past governments and the destination of these funds in capital investments as internal, external and very important sources of financing the economy of Kosovo. Purpose: This scientific paper aims to analyze the impact of public debt on Kosovo's economic growth during the period 2007-2019. Through various analyzes related to the country's public debt, we will be able to conclude the effect of public debt on Kosovo's economic growth. To analyze the public debt of the country, the following variables are included: GDP as a dependent variable, while as independent variables are the internal debt (DD) and external debt (EXD) of the Republic of Kosovo. Methodology: This paper is mainly based on the collection of data from secondary sources which are provided by the annual public debt reports published by the Ministry of Finance, the reports of the Central Bank of Kosovo and the World Bank in a period of 13 years, while the review of the literature in terms of content includes studies of various authors regarding the impact of public debt on economic growth. The collected data will be analyzed, processed and interpreted through econometric models using the STATA software. Findings: Based on the results and findings of the study of this scientific research we can conclude that public debt has a positive impact on economic growth, implying that the low level of public debt has ensured financial stability at the national level and the use of debt to a large extent for capital investments has caused a positive substantive impact on the economic growth of the country during this period. Practical implications: Through the results of this study, we recommend that for the needs of financing the economy and capital projects, the Republic of Kosovo has the opportunity to use public debt for economic needs up to the allowable limit while maintaining financial and macroeconomic stability of the country. Originality/Value: This scientific research presents real and sustainable findings regarding the public debt of the Republic of Kosovo as an impact on economic growth for the analyzed period.

Purpose: This paper analyses the impact that performance audit has on improving procurement activities which lead to enhanced value for money. Therefore, the goal was to establish whether or not procurement-focused performance audits generally had an impact on undertaking positive actions/changes within the audited institutions in Kosovo. Methodology: OLM model is used to test the hypothesis raised that what kind of impact did performance audits have on changes undertaken within the entity that would enhance the value for money in the procurement process. The data was obtained through a questionnaire administered with 86 officials within institutions which were subject to performance audits carried out by the KNAO. Findings: We have managed to illustrate which were the changes undertaken by the audited entities after the audit and also determine that auditees’ perceptions are generally positive concerning the role of the Kosovo National Audit Office (KNAO) as a factor in improving performance and undertaking changes within entities. As well, the model results shows a positive and significant relationship between performance audit and changes undertaken by auditee institutions, confirming once again the positive role of the Kosovo NAO. Originality/Value: The main contribution of our research is to draw attention to the impact of performance audit in countries with high levels of corruption and irregularities, such as Kosovo. In addition, this research reveals audit entities key persons’ perceptions, on the factors that influence the undertaking of changes that derive from performance audits.

Because of its impact on an institution's functionality and performance, organisational culture is one of the most discussed topics in management, organisational behaviour, and sociology. The majority of the debates centre on this organisational phenomenon's ability to significantly contribute to the entity's competitive evolution by mobilising its resources, particularly human resources. Even though there is still debate about the definition of organisational culture, experts agree that most of its components contain the fundamental values of any institution. Moreover, any institution considers a robust organisational culture essential for outstanding performance. This paper aims to highlight the concepts of organisational culture at the organisational level from the standpoint of modern economics. A questionnaire was used as a research tool, and the data collected from it was analysed using quantitative statistical-mathematical analysis. The non-implementation or functioning with deficiencies in organisational culture can raise concerns about the entity's functioning and the managerial act's quality and efficiency.

Purpose: The purpose of this study was to determine the direct or indirect effect of the Balancing Fund and Capital Expenditure on the Financial Performance of Local Governments through Regional Original Income as an Intervening Variable. The object of this research is the report on the realization of the APBD of 17 districts/Cities in the Province of South Sumatra from 2016-2020. Design/methodology/approach: The data used is secondary data from the website of the Directorate General of Fiscal Balance of the Republic of Indonesia (www.djpk.depkeu.go.id) in the form of quantitative data with the type of data, namely time series, which is during the period 2016-2020. The research population used is 17 regencies/cities in South Sumatra Province and the sample used is 85 samples. Data analysis techniques in this research are descriptive analysis, classical assumption test, hypothesis testing and path analysis using SPSS for Windows version 26.0 software. Findings: The results of this study indicate that the Balancing Fund does not directly affect Regional Original Revenue, Directly Capital Expenditure affects Regional Original Income, Directly the Balancing Fund, Capital Expenditure, and Regional Original Income cannot affect Regional Government Financial Performance, Indirectly the Balancing Fund variable and Capital Expenditures affect the Financial Performance of Regional Governments through Regional Original Revenues as Intervening Variables. Practical implications: This research is expected to be an evaluation material for Local Governments in improving Government Financial Performance. Originality/value: The conclusion of this study is that indirectly Locally Generated Revenue plays an important role in increasing the effectiveness of local government financial performance. If the Regional Original Revenue gets a large contribution, the level of dependence on the central government will decrease. Government financial performance can be considered effective if the regions do not depend much on the center. Then if the revenue of Regional Original Income is high, the region is able to finance infrastructure development evenly in an effort to improve the welfare of the community.

Purpose: In an ever changing professional environment, the auditing profession could not have remained unaffected. Globalization and the increasingly higher levels of competition are among the major parameters contributing to the ongoing changes in the auditing profession. The view that the accounting profession presents a shift from “professionalism” to “commercialism” is often encountered in relevant literature. In case this assertion holds true, then serious issues related to the quality of audit work arise; therefore, the tendency of auditors towards “professionalism” or “commercialism” comes up as a major issue to be investigated, so that both the regulative authorities and all other interested parties may take the appropriate measures. Within this context, the purpose of the present study is the investigation of the tendency of Greek auditors towards “professionalism” or “commercialism”. In this respect, a structured questionnaire has been employed, addressed to active auditors in Greece and directly relevant to auditors’ decisions during the client acceptance and continuance procedures - given that such a tendency may clearly become apparent even from the very first stage of the external audit process. Methodology: A structured questionnaire was employed to collect information on the attitudes, opinions and perceptions of Greek auditors. Descriptive and inferential statistical methods were used to analyse the data. Findings: The findings showed that despite the fact that audit firms present a tendency towards “professionalism”, the auditors tend to deviate from this, turning towards the “commercialism” of auditing services they provide. In addition to that, it became apparent that auditors working for the Big6 audit firms in Greece, as well as auditors with less professional experience/ briefer length of service verge towards “professionalism” to a greater extent in comparison to others. Originality/Value: While the subject of the paper remains a major and ongoing issue, this study examine it through a different prism emphasizing on the first stage of external audit, covering a gap in literature.