This paper analyzes the status of public debt management performance in 17 small states through the findings of the Debt Management Performance Assessment reports. Empirical evidence indicates that the higher the quality of a country's policies and institutions, the better is its capacity to...

Drawing on the results of recent state-level debt management performance assessments (SN DeMPAs) in seven Nigerian states and the Federal Capital Territory, the paper highlights key institutional and capacity challenges in state debt management in the context of the Nigerian fiscal federalism...

This paper examines how executives' compensation structure interacts with firm debt structure. Agency theory suggests that executive compensation can be used to mitigate the conflicts of interests between executives and shareholders. Based on the compensation contracts, executives make...

This paper investigates the impact of operational diversity on corporate philanthropy. Compared to previous studies that have considered the influence of board diversity and CEO gender on corporate philanthropy, this study introduces the concept of operational diversity, which is the...

The preparation of cash-flow statement under the indirect method involves adjustments of many items. This is a highly complex process prone to errors, due to a lack of philosophical guidance. This paper finds that the concept of natural equilibrium of Chinese Taoism “...is the way of heaven to...