Governance and accountability in promoting shariah and sustainable practices: thematic issue on governance and accountability [from the editors]
DOI:
https://doi.org/10.24200/jonus.vol8iss3pp480-491Abstract
EDITORS' REVIEWTechnological advancements, environmental challenges, and societal shifts are driving transformative changes in governance and sustainability. Ethical leadership and Shariah principles are essential lenses through which these changes can be examined and navigated. Governance and technology present emerging challenges that require an ethical framework to guide decision-making and policy formulation. Ethical leadership fosters transparency, accountability, and inclusivity in these complex landscapes, emphasising the importance of long-term environmental stewardship, equitable resource allocation, and social justice.
This thematic issue provides an insightful exploration of governance, addressing the ethical complexities introduced by digital democracy and decentralised technologies. It brings to the fore the critical role of ethical leadership as a guiding compass in navigating these evolving dynamics. Ethical leadership emerges as a foundational paradigm, promoting normative ideals of transparency, inclusivity, and accountability across various governance domains.
Shariah principles are thoughtfully integrated into the discussions, adding a moral and ethical dimension that enhances the discourse. These principles advocate for fairness, transparency, and social responsibility, aligning with the broader themes of effective governance and sustainable development. By positioning Shariah not only as a complementary perspective but as an integral framework, this issue enriches the understanding of governance and sustainability ethics.
What distinguishes this thematic issue is the comprehensive and multidimensional analytical approach taken to articulate the synergies and interdependencies among governance, sustainability, ethical leadership, and Shariah principles. The collected works advocate for a holistic and integrated approach to addressing the complex challenges of contemporary society.
Furthermore, this thematic collection provides an intellectually fertile foundation for future research. By articulating intersecting themes, it opens numerous avenues for academic inquiry, particularly in conceptualizing governance models that are both effective and ethically grounded within the framework of Shariah principles. As such, this issue serves as a valuable intellectual resource for a wide range of stakeholders, including academics, policymakers, and practitioners committed to fostering ethical, equitable, and sustainable futures.
References
Alzahrani, M. (2019). Islamic corporate finance, financial markets, and institutions: An overview. Journal of Corporate Finance, 55(1), 1-5.
Anwer, Z., Azmi, W., & Mohamad, S. (2020). Shariah screening and corporate governance: The case of constituent stocks of Dow Jones US Indices.
International Review of Economics & Finance, 86(1), 976-1002.
Anwer, Z., Mohamad, S., Paltrinieri, A., & Hassan, M. K. (2021). Dividend payout policy of Shariah compliant firms: Evidence from United States. Pacific-Basin
Finance Journal, 69(1), 101422.
Ararat, M., Claessens, S., & Yurtoglu, B. B. (2021). Corporate governance in emerging markets: A selective review and an agenda for future research.
Emerging Markets Review, 48(1), 100767.
Azmi, W., Anwer, Z., Mohamad, S., & Shah, M. E. (2019). The substitution hypothesis of agency conflicts: Evidence on Shariah compliant equities. Global
Finance Journal, 41(1), 90-103.
Basiruddin, R., & Ahmed, H. (2020). Corporate governance and Shariah non-compliant risk in Islamic banks: Evidence from Southeast Asia. Corporate
Governance: The International Journal of Business in Society, 20(2), 240-262.
Chen, N., & Yu, M. T. (2021). National governance and corporate liquidity in organization of Islamic cooperation countries: Evidence based on a Sharia-
compliant liquidity measure. Emerging Markets Review, 47(1), 100800.
Correa-Garcia, J. A., Garcia-Benau, M. A., & Garcia-Meca, E. (2020). Corporate governance and its implications for sustainability reporting quality in Latin
American business groups. Journal of Cleaner Production, 260(1), 121142.
Driss, H., Drobetz, W., El Ghoul, S., & Guedhami, O. (2021). Institutional investment horizons, corporate governance, and credit ratings: International
evidence. Journal of Corporate Finance, 67(1), 101874.
Fatmawati, D., Ariffin, N. M., Abidin, N. H. Z., & Osman, A. Z. (2022). Shariah governance in Islamic banks: Practices, practitioners and praxis. Global Finance
Journal, 51(1), 100555.
Fithria, A., Sholihin, M., Arief, U., & Anindita, A. (2021). Management ownership and the performance of Islamic microfinance institutions: A panel data
analysis of Indonesian Islamic rural banks. International Journal of Islamic and Middle Eastern Finance and Management, 14(5), 950-966.
Fuenzalida, D., Mongrut, S., Arteaga, J. R., & Erausquin, A. (2013). Good corporate governance: Does it pay in Peru? Journal of Business Research, 66(10),
1759-1770.
Gautaman S. I., Haron, H., Gui, A., Princes, E., & Sari, S. A. (2021). Sustainability reporting disclosure in Islamic corporates: Do human governance.
Corporate Governance, and IT Usage Matter, 13(23), 13023.
Grassa, R., Moumen, N., & Hussainey, K. (2021). What drives risk disclosure in Islamic and conventional banks? An international comparison. International
Journal of Finance & Economics, 26(4), 6338-6361.
Hashim, F., Mahadi, N. D., & Amran, A. (2015). Corporate governance and sustainability practices in Islamic financial institutions: The role of country of
origin. Procedia Economics and Finance, 31(1), 36-43.
Haslam, J., Chabrak, N., & Kamla, R. (2019). Emancipatory accounting and corporate governance: Critical and interdisciplinary perspectives. Critical
Perspectives on Accounting, 63(1), 102094.
Hassan, A., Sohail, M. S., & Munshi, M. M. R. (2022). Sharīʿah governance and agency dynamics of Islamic banking operations in the Kingdom of Saudi
Arabia. ISRA International Journal of Islamic Finance, 14(1), 89-106.
Imamah, N., Lin, T. J., Handayani, S. R., & Hung, J. H. (2019). Islamic law, corporate governance, growth opportunities and dividend policy in Indonesia stock
market. Pacific-Basin Finance Journal, 55(1), 110-126.
Jan, A. A., Lai, F. W., & Tahir, M. (2021a). Developing an Islamic corporate governance framework to examine sustainability performance in Islamic banks
and financial institutions. Journal of Cleaner Production, 315(1), 128099.
Jan, A. A., Lai, F. W., Draz, M. U., Tahir, M., Ali, S. E. A., Zahid, M., & Shad, M. K. (2021b). Integrating sustainability practices into Islamic corporate governance
for sustainable firm performance: From the lens of agency and stakeholder theories. Quality & Quantity, 1(1), 1-24.
Kok, S. K., & Filomeni, S. (2021). The holding behavior of Shariah financial assets within the global Islamic financial sector: A macroeconomic and firm-
based model. Global Finance Journal, 50(1), 100557.
Li, W., Zheng, M., Zhang, Y., & Cui, G. (2020). Green governance structure, ownership characteristics, and corporate financing constraints. Journal of
Cleaner Production, 260(1), 121008.
Mansoor, M., Ellahi, N., Hassan, A., Malik, Q. A., Waheed, A., & Ullah, N. (2020). Corporate governance, shariah governance, and credit rating: A cross-
country analysis from Asian Islamic banks. Journal of Open Innovation: Technology, Market, and Complexity, 6(4), 170-185.
Naveed, F., & Ul Abdin, S. Z. (2020). Corporate governance mechanism and the risk exposure of Islamic mutual funds: Evidence from Islamic countries.
Journal of Islamic Accounting and Business Research, 11(9), 1709-1723.
Oehmichen, J. (2018). East meets west—Corporate governance in Asian emerging markets: A literature review and research agenda. International Business
Review, 27(2), 465-480.
Pahlevi, R. W. (2023). Mapping of Islamic corporate governance research: A bibliometric analysis. Journal of Islamic Accounting and Business Research,
14(4), 538-553.
Qoyum, A., Sakti, M. R. P., Thaker, H. M. T., & AlHashfi, R. U. (2022). Does the Islamic label indicate good environmental, social, and governance (ESG)
performance? Evidence from sharia-compliant firms in Indonesia and Malaysia. Borsa Istanbul Review, 22(2), 306-320.
Ridwan, R., & Mayapada, A. G. (2022). Does sharia governance influence corporate social responsibility disclosure in Indonesia Islamic banks? Journal of
Sustainable Finance & Investment, 12(2), 299-318.
Schrobback, P., & Meath, C. (2020). Corporate sustainability governance: Insight from the Australian and New Zealand port industry. Journal of Cleaner
Production, 255(1), 120280.
Tarazi, A., & Abedifar, P. (2020). Special issue on Islamic banking: Stability and governance. Global Finance Journal, 51(1), 10-40.
Tessema, A. (2019). The impact of corporate governance and political connections on information asymmetry: International evidence from banks in the
Gulf Cooperation Council member countries. Journal of International Accounting, Auditing and Taxation, 35(1), 1-17.
