From EBIT to SEBIT(Sustainable EBIT):Sustainable Performance Accounting(SPA)Using the Example of CO_(2) Accounting

Corporate sustainability reporting has become increasingly important in recent years.However,conventional approaches reach their limits when it comes to quantifying and measuring the actual sustainability performance of a company.This article presents a new approach:Sustainable Performance Accounting(SPA),which is based on an extension of bookkeeping by including ESG bookkeeping.SPA enables companies to systematically measure and manage their sustainability performance.The article provides an overview of the basics of SPA methodology and uses a comprehensive example showing how SPA can be implemented in practice.The article is aimed at interested readers from science and practice as well as decision-makers who are interested in future-oriented sustainability reporting.

Research on the Influence of Equity Structure on Corporate Performance

Equity structure constitutes a crucial component of corporate internal governance.A scientifically and reasonably structured equity system aids in enhancing the level and efficiency of corporate governance.Through empirical analysis of data spanning from 2013 to 2022,the study aims to verify the influence mechanism of equity structure on corporate performance.The results indicate that enhancing equity concentration and balance positively impacts corporate performance,with this effect persisting over time.Consequently,optimizing the degree of equity concentration,shareholder types,and the board of directors’structure can assist enterprises in maximizing long-term value.

Revisiting the Spirit of the UDHR and Discussing Human Rights Development——Summary of Views from the Seminar Commemorating the 75th Anniversary of the Universal Declaration of Human Rights

On December 4,2023,the China Society for Human Rights Studies hosted a seminar in Beijing commemorating the 75^(th) Anniversary of the Universal Declaration of Human Rights.Participants discussed topics such as the significance of the Universal Declaration of Human Rights,China’s theories and practices in respecting and safeguarding human rights,the three global initiatives and global human rights governance,human rights protection in the digital age,and telling Chinese stories of human rights in the new era.The discussions led to a broad consensus and achieved positive results.

Impact of environmental governance PPP project on government performance from the perspective of value co-creation

Under the background of public-private cooperation in environmental governance,there are conflicts in the value of governance subjects based on differences in objectives and behavior heterogeneity.From the perspective of value co-creation theory,the questionnaire data and correlation structure measurement linked list are used to investigate the internal mechanism of value co-creation behavior affecting government performance.The results of the study show that value co-creation behavior has a significant positive impact on government performance,and partnership plays a mediating role in value co-creation behavior and government performance.The study reveals that whether value co-creation behavior can affect government performance depends on the partnership among the government,enterprises and the public,and the participants realize the interest demands to form value co-creation behavior,and innovate the realization path to improve government performance.This paper expands the research perspective of the influencing factors of value co-creation behavior,deepens the value cognition of multi-subject behavior,and provides a theoretical reference for environmental governance and improving government performance.

Research on the Performance Evaluation Index System of Frontier County Governments in China ——Taking Hekou County as an Example

At present, the overall economic and social development of our country is fast, but the rate of development of the remote land and territories in the land is still far behind the speed of the inland and the east. This has also triggered a series of frontier issues. This requires our frontier government to strengthen border governance, seize the opportunity to meet challenges, and at the same time we must also strengthen the assessment of the governance capacity of the frontier government. This article hopes that through the actual investigation and study of frontier counties and the consideration of border issues according to local conditions, a set of performance evaluation index system for frontier county-level governments will be proposed, which will help the frontier government in border control.

Research on the Reform Model of China＇s Government Accounting Based on Performance Management

Mueller said： ＂The environment has reflection on accounting; different cultural, economic, legal and political backgrounds produce different accounting systems.＂ It＇s no exception with government accounting. Since 1998, China＇s current budget accounting system has been acting as government accounting. Basically, it fulfilled the needs of relevant government accounting. The government accounting integrated with budget accounting. As time passes by, the current budget accounting can not meet the deepening globalization of the market economy nor the developing economic and political environment in terms of the definition of objectives, choices of basic accounting, offering of accounting information. In recent years, public finance reform, transformation of government functions, the public consciousness and other factors call for higher needs for the new government accounting. The current budget fails to provide enough government accounting information that the public need. In 2011, China started a pilot of performance management and performance budgeting in the country. The efficient use of public funds, the profits, and the effectiveness of public information draw more users＇ attention. It becomes more important for the govemrnent accounting larovidin~ information of performance evaluation.

Research to Improve the Effectiveness of the Government＇s Economic Management of Performance Management

Government Performance Management is a new government management pattern. It plays an important role in the development of the local government and an important part of the government human resource management. Since China began to implement its government performance management, it has obtained some initial results. But it is still in the exploratory and improvement stage. Because a lot of problems arise in the actual operation process, so theoretical research and practice experience need to be further improved. Therefore, analyzing the local government perfornaance management problems and exploring strategies to improve the performance management are currently the objective requirements of the socialist market economy construction and governance reform in China and will have great significance.

New Thoughts on the Construction and Transition of the Balanced Score Card Model of the Performance Value to Chinese Leaders of the Party and Government

Applying the strategic performance method of the balanced score card and the new thinking, the text structures the balanced score card theoretical model Party and government, further investigates and sets up of performance evaluation to the Chinese leaders of the the applied function model and appraisal model of the balanced score card theoretical model of performance evaluation to the Chinese leaders of the Party and government. The foundation and implementation of these kinds of models can improve its competence and reign power; will promote the whole performance development of the Chinese Party and government organs, it will create the enormous economic benefits and social benefits.

A Study of the European Union’s Path for Constructing Digital Governance Rules and the Logical Implications of the Path

The European Union(EU)seeks to build a Europe fit for the digital age.For this purpose,the EU has accelerated the process of catching up with digital technology and issued a number of legal and regulatory documents to establish a digital governance rule regime with EU characteristics.This paper analyzes the EU’s path towards the construction of digital governance rules.This path is composed of three aspects,i.e.,strict digital supervision,differentiation of the free market,and multi-stakeholder governance.This three-step path has intrinsic logical implications.That is,strict digital supervision is applied to defend the EU’s unified market and values;differentiation of the free market takes the principle of adequate protection as the core to make the EU an exporter of rules;multi-stakeholder governance brings multiple stakeholders together in the governance to deal with the ethical anomie that arises during the use of big data.By setting up a series of digital governance rules,the EU seeks to achieve rule dominance to gain regulatory power for global digital governance.However,due to multiple constraints,there is a long way to go,and there are obstacles in the way.

Government-oriented Land Circulation from the Perspective of Social Governance

This paper firstly summed up institutional change of land circulation after the foundation of new China,analyzed main characteristics and internal drawbacks of government-oriented land circulation,discussed the governance cost of local government-oriented land circulation,and evaluated the governance performance on the basis of the transaction cost theory. Results show that local government-oriented land circulation is a resource allocation mode for maximizing benefits of an organization,and its microscopic functions and values are mainly encouragement and restriction,while its macroscopic functions are comprehensive administration of results of state policies. Finally,it put forward policy suggestions for improving local government-oriented land circulation: cultivating diversified rural land circulation modes and regulating acts of local officials; stressing that building harmonious land circulation mechanism is the responsibility of central government; setting up recognition mechanism of the public to local government.

The Effects of Gross vs.Net Asset Value-Based Managers’Compensation on REIT Capital Structure and Performance:Evidence From the Italian REIT Market

Investors should always argue about management fees because of their impact on net performance that can be substantial.This especially for investments,like real estate,which require intensive management.However,different from traditional mutual funds that are usually related to the gross value of the assets under management,but similar to other financial industry sectors(e.g.hedge funds and private equity funds),REIT managers’compensation structure typically provides a basically fixed payment based alternatively on gross asset value(GAV)or net asset value(NAV).In addition,managers usually also gain a performance fee.The paper analyses how the two alternative compensation schemes influence REITs’investment decisions and capital structure and,consequently,REITs’share value and performance.The final issue addressed is whether—and under which conditions—one compensation scheme is superior to the other.Due to the(usual)market price discount on NAVs,both fee structures incentivise managers to leverage—even in a tax-free environment—in order to maximize the management fees.However,the leverage motivation is stronger for GAV-based than for NAV-based REITs,which are also expected to be more selective in investment decisions.Overall,considering initial fee percentage,GAV-based REITs are expected to execute higher management fees than NAV-based REITs due to the relevant leverage effect.Moreover,debt recourse produces different effects on share value if measured upon market price or net asset value.The empirical analysis focuses on public Italian REITs(2002-2012).The results seem to support the theoretical expectations.GAV-based REITs experience higher debt trends and levels than NAV-based REITs.At the same time,GAV-based REITs register lower real estate asset returns gross and net of management fees for both current and growth yields.Differences in the returns lead to permanent higher performances over total return indexes of NAV-based REITs compared to GAV-based REITs.

Assessing performance of cross-administrative environment governance based on PSR model:An empirical analysis of the Beijing-Tianjin-Hebei region

As an effective environment governance tool,environment governance performance evaluation is an important content and method to promote the modernization of environment governance system and governance ability.The environmental pollution of the Beijing-Tianjin-Hebei region has typical cross-administrative characteristics.Based on the analysis of the major environmental pollution problems in the Beijing-Tianjin-Hebei region,according to the international environment governance PSR model,a performance evaluation system that applies to the environment governance of Beijing-Tianjin-Hebei region is established.Meanwhile,the principal component analysis method is applied to conduct an empirical analysis of the environmental governance panel data for the 13 major cities in the Beijing-Tianjin-Hebei region from 2014 to 2016.The results show that most of the cities in the Beijing-Tianjin-Hebei region attach great importance to reduction of emission and pollutants,continuously alleviating the stress of environmental governance.However,the overall improvement of the environment governance performance in Beijing-Tianjin-Hebei region has presented a polarization imbalance.There is a clear tendency for subjective biases in the implementation of environment governance and a lack of comprehensive and systematic governance.According to the environment governance performance evaluation result of Beijing-Tianjin-Hebei region,the cross-administrative regional environment governance should improve the environment governance performance evaluation system as soon as possible,strengthen the consistency of the environment governance objectives,and implement comprehensive and systematic governance for the regional environment.

The Impact of Corporate Governance on Banks Performance and Loan Quality： Evidence From Italian Cooperative Banks

In the banking system, a context characterized by growing instability and by the speed of evolution of business dynamics, the system of corporate governance plays a key role, both for large banks and for banks with a smaller size. The paper aims to investigate the influence of corporate governance of the banks that operate in the cooperative credit system on performance and quality of loans, over the years 2010-2011-2012. In order to achieve this aim, the following research hypotheses have been formulated： There is a statistically significant relationship between the size and the structure of the board and banks Performance operating in the cooperative credit system; there is a statistically significant relationship between the size and structure of the board and the credit quality of banks operating in the cooperative credit system. The analysis is conducted on a sample composed of 48 Italian banks, divided into 24 cooperative banks and 24 popular banks. The sample is made up of banks from all over Italy and very different in terms of dimension. For the sample construction, data relative to governance of banks were collected from the balance sheets in the period from June to August 2014. Financial-economic data were collected from the Financial Statements and from Bankscope database. The methodology of analysis is based on multivariate OLS （ordinary least squares） regression models. The main results refer to the presence of significant relationships between board dimension and the quality of loans and among the number of committees and performance and the quality of loans. The presence of a significant and negative relationship between the board dimension and the ratio of impaired loans to gross loans indicates the possibility that enlargement of board dimension allows a better quality of loans. The presence of a positive relationship between the number of committees and the ratio of impaired loans to gross loans signals the possibility that a greater number of committees can produce a worse quality of loans. The presence of a negative relationship between the number of committees and bank performance suggests to limit and manage the complexity of governance in banks operating in the cooperative credit system.

The effect of leadership on performance management, good governance, internal and external satisfaction in study programs

Rapid changes in business environment have increased the needs of graduates who have capabilities of anticipating to the changes. The faculty, especially at the level of study program, has an important role in affecting the quality of graduates, because the study program is the core element in the higher education institution which involves directly in planning, organizing, executing and controlling the teaching and learning activities. This dissertation is to examine the effect of leadership on performance management and good governance, and also to examine the effect of performance management and good governance on internal and external satisfaction. The data for this causal research is collected by questionnaire. Unit of analysis in this research is all study programs in all accredited faculty of economics in East Java. The respondents are academic staffs, students and administrative staffs in the study program. There were 83 of 125 accredited study program which has been successfully contacted and agreed to participate in the research. There were 900 students and 285 academic staffs filling up the questionnaires. The data analysis is conducted by Path Analysis with the SPSS 11.5 version software to measure construct validity and reliability and to test causal relationships between variables in the model. The findings of the research showed that： （1） Leadership affects performance management significantly; （2） Leadership affects good governance significantly; （3） Leadership affects internal satisfaction significantly; （4） Performance management affects internal satisfaction; （5） Good governance significantly affects external satisfaction; （6） Internal satisfaction does not affect external satisfaction. Based on the findings in this research, it is suggested that the study programs take into account the implementation of performance management in order to undertake improvement continuously considering that performance management supports the quality assurance activity. It is also suggested that the faculty implements good governance formally. However, the implementation should empower the study program to undertake the improvement.

Do auditors perform governance functions？ A research on the change of performance notice

Whether auditors provide high-quality audit services has been a concern of academics for a long time, but it has not clear answer. In this paper the author studies this problem from the real basis of audit activities, in view of an endless stream of the performance of listed companies notice ＂change＂ phenomenon. The author finds that auditing is the important reasons of listed companies notice ＂change＂, auditor can improve disclosure quality, is the gatekeeper to accounting information. The author also finds that there may be exist collusion of listed company with auditor, SEC should enhance inspection of the implementation of listed companies notice of earnings.

An Overview of the New Listing Rules and Corporate Governance Best Practice in Sri Lanka

Corporate governance represents institutional structures and incentive mechanisms that are implemented in order to mitigate the principal-agent problem and to thus promote the long-term competitiveness of the firm. The purpose of this paper is to examine the nature of corporate governance best practice and the new listing rules in Sri Lanka. The paper discusses the evolution of the corporate governance best practice giving special reference to the new listing rules in Sri Lanka, Sri Lankan stock market overview and the importance of best practice governance for the developing economy of Sri Lanka. Corporate governance practices in Sri Lanka has made a progress towards best practice, but, this paper argues, that substantial reforms need to be implemented to effectively promote and sustain the accountability and transparency.

Rebuilding and Integration of Rural Governance System Based on the Combination of Self-governance,Rule of Law and Rule of Virtue

The proposal that"the rural governance system based on the combination of self-governance,rule of law and rule of virtue should be completed"was put forward in the report of the 19th National Congress of the Communist Party of China.There are many challenges for the development and difficulties for the governance of rural social transformation in the new era,so"the combination of self-governance,rule of law and rule of virtue"is realistically essential,having the objective inevitability and practical possibility.The fundamental and central role of the villagers'self-governance should be brought into full play to construct"the rural governance system based on the combination of self-govermance,rule of law and rule of virtue"under the guidance of the spirit of the 19th National Congress ofthe Communist Party of China,by taking the rule of law as the legal assurance and rule of virtue as the social affection support,managing to complete and optimize the rural governance system,realize the good and right governance in the rural society,boost the modernization construction process of the national governance ability,and realize the great objective of comprehensive rural vitalization of the"stability of the rural areas,development of the agriculture and happiness of the farmers".

Executive Compensation and Firm Performance in Japan： The Role of Keiretsu Memberships and Bank-Appointed Monitors＊

This paper examines the relations between the disciplinary role of Japanese relationship-oriented corporate governance mechanisms, such as keiretsu memberships and bank-appointed directors, and pay for performance sensitivity in Japan. Previous studies show that pay for performance sensitivity of Japanese executive compensation is positive and almost the same as in a market-oriented system like that of the United States of America （USA）. However, previous studies do not investigate how Japanese corporate governance mechanisms like financial keiretsu ties and bank-appointed directors affect pay for performance sensitivity. This paper finds that the disciplinary mechanism of keiretsu memberships and bank-appointed monitors did not function well in Japan in the 1990s.

Causal Relationship Model of Firm Characteristics Factors and Good Cooperate Governance Affecting the Performance of the Companies Listed on the Stock Exchange of Thailand

The objective of this research was to develop the causal relationship model of firm characteristics factors and good corporate governance affecting the performance of the companies listed on the Stock Exchange of Thailand. The developed model consisted of three latent variables and eight observable variables. The sample of this study was 338 companies listed on the Stock Exchange of Thailand. Data are from annual reports （form-56）, annual financial statements and notes to the fmancial statements during the years 2010-2013. The statistics used in this study were descriptive statistics. The causal model was analyzed through a path analysis with LISREL 8.80 Student Edition. The results showed as follows. By testing the consistence of the causal model of finn characteristics （CHA）, the assumed model was consistent with empirical data. Based on the statistical test, the Chi-Square was 22.08. The statistical probability （p） was 0.077, the degree of freedom （dO was to 0, 2/2 was 1.58, RMSEA was 0.041, SRMR was 0.037, GFI was 0.98, CFI was 0.99, AGFI was 0.96. The latent variable of firm characteristics （CHA） had directly negative impact on performance （PAL） with a statistical significance level of 0.01. A path coefficient was 0.18. However, CHA variable did not indirectly influence performance （PAL） and it had directly negative impact on good corporate governance （GGN） with a path coefficient of 0.02 without statistical significance level. The latent variable of good corporate governance （GGN） had directly positive impact on the performance （PAL） with a statistical significance level of 0.05, with a path coefficient of 0.18.

Conflict： Efficient State or State Under the Rule of Law？-- The Hungarian Case of the Victory of the Efficient State over the State Under the Rule of Law

This study is seeking an answer as to whether the efficient state and the state under the rule of law are indeed irreconcilable, as well as to whether these two categories are by nature to be seen as contrary concepts. The basic issue is whether efficiency is to be handled as an ＂extralegal＂ category, or whether legal regulation, in accordance with public administration traditions in Europe, can in itself meet the requirement of efficiency. Also the study presents the formation of the issue of conflict between the effective state and the state under the rule of law in Hungary after the election held in 2010 in the practice of economic policy and legislation of the Orban government. We are trying to answer the question of the tendency of power concentration to really menace the principles of a traditionally-formed state under the rule of law, as well as whether the economic policy of the government can be implemented effectively in a strongly centralized political and state administrative system.