The use of infrastructure as a catalyst for Indonesia’s economic growth faces significant challenges. One example is the construction projects, which have not reached the intended goal and have led to an increase in investment cost compared to the original plan. Additionally, the interaction between the government and companies involved in toll-road construction projects under the public-private partnerships (PPP) mechanism has yet to produce good quality project governance and expected project performance. This study aimed to find empirical data on the determination of project intellectual capital and project ownership structure through good project governance on toll-road project performance in Indonesia. This study adopted a quantitative approach that involved data collected through a survey conducted among toll-road projects from 2015 to 2019. The data was analyzed with Structural Equation Modeling Partial Least Square (SEM-PLS). The results showed that project intellectual capital and project ownership structure significantly affected good project governance. Good project governance Practices significantly affected project performance. Project intellectual capital and project ownership structure influenced project performance through the mediation of good project governance. Conversely, two hypotheses were not supported by the data, i.e., the effect of project intellectual capital and project ownership structure on project performance. The findings of this research contributed to the literature regarding the implementation of collaborative governance in PPPs toll road development projects in Indonesia by providing a framework and assessment tools, which could be valuable for researchers and policymakers in analyzing and evaluating the governance and performance of toll road construction PPP projects.

With the advancement of modernization, commoditization and grassroots governance have become important terms. Community governance not only promotes modern democracy but plays a key role in improving community governance capabilities and modernizing the governance system, which is receiving much attention. Despite the expanding number of articles on community governance, few evaluations investigate its evolution, tactics, and future goals. As a result, the particular goal of this study is to provide the findings of a thematic analysis of community governance research. Investigating the skills and procedures needed for practice-based community government. Data for this study were gathered through a thematic assessment of 66 papers published between 2018 and 2023. The pattern required by the researchers was provided by the ATLS.ti23 code used to record the review outcomes. This study proposes six central themes: 1) rural advancement, 2) community (social) capital, 3) public health and order governance, 4) governance technology, 5) sustainable development, and 6) governance model. The research results show that the research trend of community governance should focus on rural advancement, taking rural community governance as the starting point, the dilemma and adjustment of the governance model, community public health and order governance, and digital governance. It will yield new insights into new community governance standards and research trends.

This study investigates the multifaceted challenges and barriers to implementing public auditor recommendations in Ghana’s public sector over an eighteen months period, aiming to enhance governance and accountability. Utilizing a qualitative research approach, the study involved semi-structured interviews with key stakeholders, including officials from the Ghana Audit Service, government ministries, and civil society organizations. The findings reveal a complex interplay of organizational, political, and attitudinal factors that impede effective implementation. Key challenges identified include the lack of clear implementation plans, insufficient resources, weak political commitment, and a pervasive culture of mistrust towards audit recommendations. The research underscores the necessity for a comprehensive and holistic approach to address these barriers, advocating for strengthened political leadership, enhanced accountability mechanisms, and improved stakeholder coordination. Additionally, fostering a sense of ownership and buy-in among implementation stakeholders is crucial for successful reform. The study contributes valuable insights into the systemic issues affecting public sector governance in Ghana and offers practical recommendations for overcoming the identified challenges, ultimately aiming to empower citizens and enhance governmental accountability. By addressing these barriers, the research highlights the potential for transformative change in the governance landscape of Ghana’s public sector.

 This paper empirically analyzes the relationship between corporate governance and capital market risk using A-share listed companies in China’s Shanghai and Shenzhen markets from 2008 to 2022 as a research sample. The study finds that corporate governance decreases capital market risk using new risk measurement at the firm level. Further analysis shows that such an effect is more pronounced in the sample of private companies, companies with a higher degree of indebtedness, and companies with a lower concentration of power. This paper’s findings help us better understand corporate governance’s role in stock risk and provide theoretical support and empirical evidence to improve the stability of the financial market in emerging markets.

This study investigates the influence of Environmental, Social, and Governance Disclosures (ESGD) on the profitability of firms, using a sample of 385 publicly listed companies on the Thai Stock Exchange. Data from 2018 to 2022 is sourced from the Bloomberg database, focusing on ESGD scores as indicators of companies’ ESG commitments. The study utilizes a structural equation model to examine the relationships between independent variables; ESGD, Earnings Per Share (EPS), Debt to Assets ratio (DA), Return on Investment Capital (ROIC), Total Assets (TA), and dependent variables Tobin’s Q (TBQ) and Return on Assets (ROA). The analysis reveals a positive relationship between ESGD and TBQ, but not with ROA. Further exploration is conducted to determine if different ESGD levels (high, medium, low) yield consistent effects on TBQ. The findings indicate discrepancies: high and medium ESGD levels are associated with a negative impact on TBQ when EPS increased, whereas low ESGD levels correlate with an increase in TBQ with rising EPS. This nuanced approach challenges the conventional uniform treatment of ESGD in previous research and provides a deeper understanding of how varying commitments to ESG practices affect a firm’s market valuation and profitability. These insights are crucial for firm management, highlighting the importance of ESGD in relation to other financial variables and their effects on market value. This study offers a new perspective on ESGD’s impact, emphasizing the need for differentiated strategies based on ESG commitment levels.

The aim of this study is to examine the relationship between Environmental, Social and Governance (ESG) activities and the performance of Thai listed firms. The moderating roles of board size and CEO duality on this relationship are also assessed. The ESG score provided by LSEG (formerly Refinitiv) is chosen to measure ESG activities, both as an overall ESG combined scores and as Environment, Social, and Governance pillar scores. Multiple regression analysis is used to test the impact of ESG on firm performance while the PROCESS macro is used to test the moderating effects. Results reveal that the overall ESG combined score demonstrates no statistically significant effect on firm market-based performance. However, it shows the significant effects on firm performance for both the ESG combined score and the Environmental and Social pillar scores when moderated by board size and CEO duality; Governance pillar score exhibits no significant effect. Additionally, it is found that when the CEO operates only as the managing director and small board size and average board size are evident, higher ESG disclosure scores enhance firm performance. However, when the CEO serves as both managing director and chairman of the board of directors, and where there is a large board size, higher ESG disclosure scores diminish firm performance. This study contributes to the ESG literature and encourages companies to enhance their performance by implementing ESG combined activities with good governance policies.