scholarly journals The Impact of Independent Supervisory Boards on Transformations in the Energy Sector: Results of an International Longitudinal Study

Energies ◽  
2021 ◽  
Vol 14 (17) ◽  
pp. 5293
Author(s):  
Dmytro Osiichuk ◽  
Mirosław Wasilewski ◽  
Serhiy Zabolotnyy
Keyword(s):  
Energy Use ◽  
Supervisory Board ◽  
Binary Logistic Regression ◽  
Energy Transition ◽  
Energy Sector ◽  
Binary Logistic Regression Analysis ◽  
Board Independence ◽  
Firm Level ◽  
Energy Companies ◽  
The Impact

The paper aims at establishing an associative link between supervisory board members’ independence and the dynamics of environmental policy transformations in the energy sector. To that end, we apply static panel models and binary logistic regression analysis to an international sample of 358 energy companies observed over the period between 1990 and 2020. Our empirical results point to a lack of any persistent link between board independence and energy transition after controlling for country-specific effects and firm-level financials. Although firms with a higher percentage of independent directors on boards are more likely to set emission targets and implement resource reduction policies, they are simultaneously more likely to be involved in environmental controversies and increase coal output. They are also significantly less likely to enforce an energy efficiency policy. No significant link is found between board independence and environmental expenditures, CO2 equivalent emissions, and renewable energy use by energy companies. Overall, despite the widespread expectation that independent boards will accelerate energy transition, empirical evidence suggests that they are more likely to maintain the status quo. Delving into the problem of incentives in the energy sector, we find that executive compensations and corporate profitability exhibit a persistent positive link with CO2 emissions.

scholarly journals Differences in Disclosure of Integrated Reports at Energy and Non-Energy Companies

Energies ◽  
2021 ◽  
Vol 14 (5) ◽  
pp. 1253
Author(s):  
Maja Piesiewicz ◽  
Marlena Ciechan-Kujawa ◽  
Paweł Kufel
Keyword(s):  
Ownership Structure ◽  
Value Creation ◽  
Energy Sector ◽  
Financial Data ◽  
Integrated Reporting ◽  
Creation Process ◽  
And Performance ◽  
Energy Companies ◽  
The Impact ◽  
Value Creation Process

Integrated reports combine financial and non-financial data into a comprehensive report outlining the company’s value creation process. Our objective is to find the completeness of disclosures, which is a crucial aspect of an integrated report’s quality. This study contributes to the integrated reporting examination by identifying quantitative and qualitative gaps when applying Integrated Reporting standards, focusing on the energy sector. We conducted the study on 57 published integrated reports of listed companies in Poland. The content of each report was examined for 49 features divided into eight areas. We identify the strengths and weaknesses of current reporting performance and the impact of the company’s sector on reports’ quality. We noted that there are significant differences among the areas. The major problems concern implementing IIRC’s framework on the connections between the business model and the organization’s strategy, risks, opportunities, and performance. Our research also noted that the level of specific disclosures might be related to a company’s ownership structure. We investigated the significance of differences among companies from the energy and non-energy sectors using statistical methods. As a result of the study, we obtained that disclosures’ completeness depends on the operation sector. The companies in the energy sector publish higher-quality integrated reports than companies in the other sectors.

scholarly journals Analisis Dampak Tax Morale Terhadap Kepatuhan Pajak UMKM: Studi Kasus Kota Semarang

2018 ◽  
Vol 1 (1) ◽  
pp. 14
Author(s):  
Muslimah Mahmudah ◽  
Deden Dinar Iskandar
Keyword(s):  
Small And Medium Enterprises ◽  
Tax Compliance ◽  
Binary Logistic Regression ◽  
Primary Data ◽  
Binary Logistic Regression Analysis ◽  
Ethical Business ◽  
Tax Morale ◽  
Business Size ◽  
Medium Enterprises ◽  
The Impact

This study aims to analyze the impact of tax morale on Micro, Small, and Medium Enterprises (MSMEs) tax complianceSemarang City as the case study. This study uses primary data generated from 117 samples of MSMEs in Semarang. Data analysis is performed  using binary logistic regression analysis. The results showed that environmental, institutional, ethical, business, and business size variables significantly influence MSMEs tax compliance. On the other hand, variables whose effect on tax compliance is not statistically significant include happiness, religiosity, gender, age, education, and marital status.

scholarly journals Energy Security Problem amid Global Energy Transition

2021 ◽  
Vol 21 (4) ◽  
pp. 772-784
Author(s):  
Yury V. Borovsky
Keyword(s):  
Energy Security ◽  
Energy Use ◽  
Rapid Development ◽  
Energy Transition ◽  
The United States ◽  
Low Carbon ◽  
Security Threat ◽  
The Us ◽  
The Impact ◽  
The Eu

In the early 2020s the worlds transition from carbon-intensive to climate-neutral energy use has already become a discernible and a difficult-to-reverse process. With Joe Bidens election as US president, the United States have returned to the Paris Climate Agreement and have become a key driver of this process (along with the EU and China). As a result, the international community has reached a consensus on the ongoing energy transition. This process will require considerable effort and may take several decades. Nevertheless, the impact of energy transition on traditional approaches to energy security, which emerged largely as a result of the global oil crises of the 1970s and 1980s and are centered around the supply of fossil fuels, is already a relevant research topic. This problem is examined relying on the relevant terminological, theoretical and factual material. The article concludes that energy transition will ultimately undermine the carbon paradigm that has underpinned energy security policies since the 1970s. Rapid development of renewable and other low-carbon energy sources will certainly remove key energy security risks of energy importers and, possibly, allow them to achieve energy independence. However, a post-carbon era may also generate new risks. For countries that rely heavily on oil, gas and coal exports, energy transition will result in the loss of markets and revenues. It may present an energy security threat for them as well as it will require a costly and technologically complex process of the energy sector decarbonization. Some exporters, especially those with high fuel rents and insufficient financial reserves, may face serious economic and social upheavals as a result of energy transition. The EU and the US energy transition policies reflect provisions of all three fundamental international relations theoretical paradigms, including realism. This means that the EU and the US policy, aimed at promoting climate agenda, may be expected to be rather tough and aggressive. China as the third key player in energy transition is still following a liberal course; however, it may change in the future.

scholarly journals COVID-19-Induced Redundancy and Socio-Psychological Well-Being of Tourism Employees: Implications for Organizational Recovery in a Resource-Scarce Context

2021 ◽  
pp. 004728752110545
Author(s):  
Albert N. Kimbu ◽  
Issahaku Adam ◽  
Frederick Dayour ◽  
Anna de Jong
Keyword(s):  
Marital Status ◽  
Binary Logistic Regression ◽  
Well Being ◽  
Tourism Industry ◽  
Binary Logistic Regression Analysis ◽  
Psychological Well Being ◽  
Education Status ◽  
Managerial Implications ◽  
Future Work ◽  
The Impact

Drawing on social and psychological well-being literature underpinned by the concept of resilience, this study examines the impact of COVID-19 induced redundancy on the socio-psychological well-being of redundant employees (laid-off or working reduced hours), and its effect on their commitment to work and support recovery in the tourism industry. Utilizing a quantitative-dominant mixed methods design, 457 questionnaires were administered, and 15 interviews conducted with redundant employees in Ghana between May and August 2020. Results from a binary logistic regression analysis of the survey data supported by qualitative interview analysis indicate that marital status, education, status of dependents, and the types of tourism businesses employed in, significantly influenced psychological well-being while marital status, age, education, and rank in the organization influenced the social well-being of respondents. Meanwhile, psychological well-being significantly influenced future work commitment in the industry. Managerial implications for supporting employee resilience, well-being, and future recovery strategies are critically examined.

Presence of Additional Safety Belt Enforcement Increases Safety Belt Use by Drivers

2020 ◽  
Vol 2674 (3) ◽  
pp. 93-99
Author(s):  
Lusanni Acosta-Rodriguez ◽  
Valerian Kwigizile ◽  
Jun-Seok Oh ◽  
Timothy Gates
Keyword(s):  
Motor Vehicle ◽  
Geographical Location ◽  
Binary Logistic Regression ◽  
Influential Factors ◽  
Binary Logistic Regression Analysis ◽  
Traffic Enforcement ◽  
Safety Belt ◽  
Primary Means ◽  
The Impact ◽  
Additional Safety

The use of a safety belt is universally recognized as a primary means of reducing injuries and fatalities for motor vehicle occupants. There are several factors that contribute to safety belt utilization, including traffic enforcement, demographics, vehicle type, day of the week, and geographical location. These factors have been explored and found significant in relation to safety belt usage. Apart from these factors, the presence of additional traffic enforcement is generally believed to produce higher rates of safety belt use. However, the impacts provided by the presence/no-presence of additional traffic enforcement have been merely quantified on a disaggregated scale, broadly across an entire state while controlling for other influential factors. Thus, this paper presents an analysis that quantifies the impacts provided by the presence of additional safety belt enforcement on driver safety belt usage. Direct safety belt use observational surveys and traffic enforcement data were used for the analysis. Owing to the nature of the data, a binary logistic regression analysis was performed on the dataset from the state of Michigan. The results showed that for every location where additional traffic enforcement was present, safety belt usage increased by 6.4% per county compared with areas where no additional traffic enforcement was present. Finally, the results not only quantified the impact of traffic enforcement on safety belt use, but could help transportation safety agencies make more informed decisions about where additional safety belt enforcement may be needed to improve rates of safety belt use.

scholarly journals Weather Risk Management in Energy Sector: The Polish Case

Energies ◽  
2020 ◽  
Vol 13 (4) ◽  
pp. 945
Author(s):  
Monika Wieczorek-Kosmala
Keyword(s):  
Risk Management ◽  
Energy Sector ◽  
Annual Reports ◽  
Research Approach ◽  
Weather Derivatives ◽  
Weather Risk ◽  
The Cost ◽  
Energy Companies ◽  
Weather Risk Management ◽  
The Impact

The energy sector is perceived as one of the most exposed sectors to the consequences of weather risk both directly (damages of its infrastructure) and indirectly (frictions to the energy supply–demand balance). The main aim of this paper is to provide an insight into the impact of weather risk on economic activity of companies operating in the energy sector in Poland. The empirical objective is to examine whether energy companies: (i) identify their relevant weather risk exposures; (ii) evaluate the impact of weather risk in the cost-revenues dimension; and (iii) implement weather risk management tools, in this case—weather derivatives. In a methodical context, this study relies on a unique research approach and derives from works that examine companies’ risk disclosures in annual reports, by applying textual content analysis. The results indicate that Polish energy companies recognize the impact of weather risk on their performance, also in the cost-revenues dimension. However, although the reported weather risk management methods were diversified, the examined companies did not use weather derivatives to hedge their weather risk exposures. In the overall dimension, the companies leading with the perception and management of weather risk were diversified regarding performance and market size.

scholarly journals Aortic Arch Calcification as a Predictor of Repeated Arteriovenous Fistula Failure within 1-Year in Hemodialysis Patients

2017 ◽  
Vol 2017 ◽  
pp. 1-9
Author(s):  
Yit-Sheung Yap ◽  
Kai-Ting Ting ◽  
Wen-Che Chi ◽  
Cheng-Hao Lin ◽  
Yi-Chun Liu ◽  
...  
Keyword(s):  
Serum Albumin ◽  
Arteriovenous Fistula ◽  
Aortic Arch ◽  
Serum Albumin Level ◽  
Binary Logistic Regression ◽  
Hemodialysis Patients ◽  
Albumin Level ◽  
Binary Logistic Regression Analysis ◽  
The Impact ◽  
Aortic Arch Calcification

Objectives. The aim of the study was to identify the factors associated with repeated arteriovenous fistula (AVF) failure within 1-year, especially the impact of aortic arch calcification (AAC) on patency of AVF.Materials and Methods. We retrospectively assessed chest radiography in hemodialysis patients who had undergone initial AVF. The extent of AAC was categorized into four grades (0–3). The association between AAC grade, other clinical variables, and repeated failure of AVF was then analyzed by binary logistic regression analysis.Results. This study included 284 patients (158 males, mean age61.7±13.1years). Patients with higher AAC grade were older, had more frequently diabetes mellitus and cardiovascular disease, had lower diastolic blood pressure, and had higher corrected calcium and lower intact parathyroid hormone levels. In multivariate analysis, the presence of higher AAC grade (odds ratio (95% confidence interval): 2.98 (1.43–6.23);p=0.004), lower mean corrected calcium (p=0.017), and mean serum albumin level (p=0.008) were associated with repeated failure of AVF.Conclusions. The presence of higher AAC grade, lower mean corrected calcium and mean serum albumin level were independently associated with repeated AVF failure within 1 year in hemodialysis patients.

scholarly journals The Economic Effect of the Pandemic in the Energy Sector on the Example of Listed Energy Companies

Energies ◽  
2021 ◽  
Vol 15 (1) ◽  
pp. 158
Author(s):  
Edyta Rutkowska-Tomaszewska ◽  
Aleksandra Łakomiak ◽  
Marta Stanisławska
Keyword(s):  
Power Plants ◽  
Stock Exchange ◽  
Research Question ◽  
Economic Effect ◽  
Financial Statements ◽  
Energy Sector ◽  
Electricity Production ◽  
Warsaw Stock Exchange ◽  
Energy Companies ◽  
The Impact

The study posed a research question: did the situation caused by COVID-19 affect the economic position of energy companies? The aim of the study is to investigate the impact of the situation of the epidemic state introduced in 2020 on the activities of the efficiency of energy sector companies. The subject of the research will be the ten largest Polish power plants in terms of electricity production, including four capital groups to which they belong. Financial data from 2014 to 2020 will be used for the research. To test the effectiveness, the tools of the ratio analysis will be used. The analysis of the financial statements in terms of investments in manufacturing activities confirms the hypothesis that companies investing in new solutions and technologies will be best prepared for an exceptional situation. The results of the research show that those capital groups which in the period preceding the outbreak of the epidemic made the largest investment outlays and at the same time their financial ratios and market valuation on the Warsaw Stock Exchange were the highest, they also achieved the highest financial results during the pandemic—they had the most favorable economic situation.

Board independence and the quality of board monitoring: evidence from China

2015 ◽  
Vol 11 (3) ◽  
pp. 308-328 ◽  
Author(s):  
Xiaohui Wu ◽  
Hui Li
Keyword(s):  
Insider Trading ◽  
Boards Of Directors ◽  
Board Independence ◽  
Level Control ◽  
Firm Level ◽  
Content Type ◽  
Board Monitoring ◽  
The Impact ◽  
Monitoring Quality

Purpose – In 2001, the China Securities Regulatory Commission required that at least one-third of the members of corporate boards of directors come from outside the organization. The purpose of this paper is to investigate the impact of this change of regulation on corporate governance in China. In particular, the authors examine whether the increase in the proportion of outsider directors can increase the monitoring quality of the board. Design/methodology/approach – The basic empirical methodology is a logit regression in which the dependent variable is a binary variable that represents one of the three “negative events” identified as the indicators of poor monitoring quality. The independent variables are firm-level control variables. Findings – Using Chinese stock data from 1999 to 2005, the authors find that the resulting increase in board independence has reduced the occurrence of connected transactions and violations such as financial statement fraud, illegal insider trading, and asset misappropriation. However, this positive effect of board independence is not uniform across firms. The authors show that a higher degree of fundamental uncertainty in a firm impedes the effectiveness of board independence. The authors also document that the level of board independence is positively associated with firm performance, as measured either in stock market return or accounting return. Originality/value – In this paper, the authors aim to investigate the effectiveness of outsider directors in a more direct way than has previous research. The authors measure the improvement in the quality of board monitoring by the reduction of the likelihood of those corporate events that could reduce firms’ value. In particular, the authors examine the relationship between the board independence and the occurrence of “negative” corporate events in China. To the best of the knowledge, this is the first study that explores the link between board independence and the probabilities of these events.

scholarly journals Impact of the COVID-19 Pandemic on the Energy Use at the University of Almeria (Spain)

2021 ◽  
Vol 13 (11) ◽  
pp. 5843
Author(s):  
Mehdi Chihib ◽  
Esther Salmerón-Manzano ◽  
Mimoun Chourak ◽  
Alberto-Jesus Perea-Moreno ◽  
Francisco Manzano-Agugliaro
Keyword(s):  
Energy Consumption ◽  
Energy Use ◽  
Energy Savings ◽  
Electricity Consumption ◽  
Energy Performance ◽  
Energy Sector ◽  
Wide Range ◽  
University Buildings ◽  
The University ◽  
The Impact

The COVID-19 pandemic has caused chaos in many sectors and industries. In the energy sector, the demand has fallen drastically during the first quarter of 2020. The University of Almeria campus also declined the energy consumption in 2020, and through this study, we aimed to measure the impact of closing the campus on the energy use of its different facilities. We built our analysis based upon the dataset collected during the year 2020 and previous years; the patterns evolution through time allowed us to better understand the energy performance of each facility during this exceptional year. We rearranged the university buildings into categories, and all the categories reduced their electricity consumption share in comparison with the previous year of 2019. Furthermore, the portfolio of categories presented a wide range of ratios that varied from 56% to 98%, the library category was found to be the most influenced, and the research category was found to be the least influenced. This opened questions like why some facilities were influenced more than others? What can we do to reduce the energy use even more when the facilities are closed? The university buildings presented diverse structures that revealed differences in energy performance, which explained why the impact of such an event (COVID-19 pandemic) is not necessarily relevant to have equivalent variations. Nevertheless, some management deficiencies were detected, and some energy savings measures were proposed to achieve a minimum waste of energy.

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