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Agency Costs, Voting Divergence, and Corporate Governance: A Qualitative Synthesis of Dual-Class Stock and Sunset Clause Mechanisms Benardi; Eri Kusnanto
International Journal of Business Law, Business Ethic, Business Comunication & Green Economics Vol. 3 No. 2 (2026): June: International Journal of Business Law, Business Ethic, Business Communica
Publisher : LPPM STIE Kasih Bangsa

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70142/ijbge.v3i2.455

Abstract

This qualitative literature review synthesizes contemporary research on how dual-class share structures shape agency costs, voting divergence, and corporate governance outcomes. The review finds that disproportionate voting rights increase managerial entrenchment risks and weaken shareholder oversight, thereby amplifying agency costs across diverse institutional settings. However, governance safeguards particularly time bound and event-based sunset clauses emerge as effective mechanisms for moderating the long-term risks of control disproportionality. While dual class firms may benefit from strategic insulation that fosters innovation and long-term value creation, the absence of sunset provisions is consistently associated with reduced firm valuation, diminished accountability, and persistent divergence between control and ownership. Overall, this synthesis highlights that dual-class structures are not universally harmful, but their sustainability depends on the presence of robust governance constraints designed to restore alignment over time.
Transformational Leadership in the Digital Business Environment: A Systematic Literature Review of Innovation Capability, Management Accounting Systems, and Sustainable Firm Performance Novrizal; Benardi
International Journal of Management, Accounting & Finance (KBIJMAF) Vol. 3 No. 3 (2026): July: International Journal of Management, Accounting & Finance (KBIJMAF)
Publisher : LPPM STIE Kasih Bangsa

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70142/kbijmaf.v3i3.473

Abstract

The rapid advancement of digital technologies has fundamentally transformed organizational leadership, innovation, and strategic management practices. This study conducts a qualitative Systematic Literature Review (SLR) to synthesize existing evidence on the relationships among transformational leadership, innovation capability, management accounting systems (MAS), and sustainable firm performance in the digital business environment. Following the PRISMA 2020 guidelines, peer reviewed articles published in internationally recognized journals were systematically identified, screened, and synthesized. The review reveals that transformational leadership contributes to sustainable firm performance primarily through strengthening innovation capability and promoting the strategic use of management accounting systems rather than through direct effects. Innovation capability enhances organizational adaptability, knowledge sharing, and value creation, while advanced MAS supports strategic decision making and organizational control. The findings further indicate that integrating transformational leadership, digital transformation, innovation capability, and strategic management accounting enables organizations to achieve long-term competitiveness and sustainability. This review provides theoretical insights and practical implications for future leadership and digital business research.
Understanding Configurational Strategies for Circular Economy Adoption in Manufacturing: A Qualitative Systematic Literature Review of Theoretical and Empirical Insights Moh. Trisamanta; Benardi
Journal of Economic and Leadership Vol. 3 No. 2 (2026): September: Journal of Economic and Leadership
Publisher : LPPM STIE Kasih Bangsa

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70142/jbl.v3i2.69

Abstract

This qualitative systematic literature review examines configurational strategies for circular economy (CE) adoption in manufacturing by integrating theoretical perspectives and empirical evidence from the existing literature. Using a systematic review approach, the study synthesizes research on organizational, technological, operational, interorganizational, market, and institutional conditions influencing circular transformation. The findings indicate that CE adoption is a configurational and context dependent phenomenon rather than a linear process driven by individual determinants. Three broad pathways emerge: a strategic market driven pathway, a technology operations pathway, and a collaboration supply chain pathway. The review further demonstrates that different combinations of conditions and practices can generate similar circular and sustainability outcomes, reflecting equifinality and causal complexity. Digital technologies appear most effective when combined with complementary organizational, operational, and collaborative capabilities. The study contributes a configurational framework that advances understanding of how manufacturing firms can pursue alternative pathways toward circular transformation.
Transforming Institutional Pressure into Sustainable Innovation: A Systematic Literature Review of Intellectual Capital, Organizational Learning, and Firm Performance Mohammad Chaidir; Benardi
Journal of Economic and Leadership Vol. 2 No. 1 (2025): March: Journal of Economic and Leadership
Publisher : LPPM STIE Kasih Bangsa

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70142/jbl.v2i1.77

Abstract

This study examines how institutional pressure can be transformed into sustainable innovation through intellectual capital and organizational learning to enhance firm performance. Using a qualitative systematic literature review (QSLR), the study synthesizes relevant empirical and theoretical literature concerning institutional pressure, intellectual capital, organizational learning, sustainable innovation, and firm performance. The findings indicate that regulatory, normative, and imitative pressures can stimulate organizations to develop strategic knowledge resources and strengthen organizational learning capabilities. Intellectual capital, comprising human, structural, and relational resources, provides the foundation for knowledge creation and innovation, while organizational learning facilitates the acquisition, integration, and application of knowledge in response to institutional demands. Sustainable innovation subsequently functions as an important mechanism linking these capabilities to improved firm performance. The study proposes an integrated pathway in which institutional pressure becomes a strategic stimulus for capability development, sustainable innovation, and long-term organizational competitiveness.