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CORPORATE GOVERNANCE AND FINANCIAL PERFORMANCE DURING ECONOMIC CRISES: A GLOBAL EVIDENCE Botutihe, Nur'atni
Management Studies and Business Journal (PRODUCTIVITY) Vol. 2 No. 5 (2025): Management Studies and Business Journal (PRODUCTIVITY)
Publisher : Penelitian dan Pengembangan Ilmu

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62207/j62kvq93

Abstract

Corporate governance (CG) is an important element in ensuring accountability and operational efficiency, especially during global economic crises such as the 2008 financial crisis and the COVID-19 pandemic. Although many studies have discussed the relationship between CG and financial performance (FP), few have explicitly considered the institutional context across countries. This gap suggests the need to examine how institutional factors moderate the relationship between CG and FP during times of crisis.This study examines how CG mechanisms affect corporate financial performance during economic crises, highlighting the moderating role of differences in institutional settings across countries. A narrative review approach is used to synthesize conceptual and empirical findings from reputable journals (2000–2024), focusing on two major crises: the 2008 global crisis and the COVID-19 pandemic. The literature is mapped by theme, geographic region, and type of crisis.The results show that strong CG mechanisms, such as board independence and the existence of an audit committee, can improve financial resilience during crises. However, their effectiveness varies greatly depending on the quality of institutions in each country. In countries with weak institutions, formal CG structures often do not produce optimal results. These findings underscore the complexity of the CG–FP relationship and the importance of contextual strategies.In conclusion, CG plays an important role in maintaining corporate financial stability during crises, but its impact is highly dependent on the quality of local institutions. A uniform approach is inadequate; a deeper understanding of local dynamics and policy responses is needed. This study integrates Agency Theory and Institutional Theory, and provides theoretical and practical contributions for managers and policymakers.
Transformational Public Management and Innovation Culture in Luwuk City Government Febrian Hanafi, Ezy; Rafli Mojang, Moh.; Masusi, Diana; Awal Bakti, Jaja; Botutihe, Nur'atni
Journal of Management Vol. 4 No. 2 (2025): July - December
Publisher : Yayasan Pendidikan Belajar Berdikari

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Abstract

This study examines how transformational public management influences the development of an innovation culture within the Luwuk City Government, Banggai Regency, Central Sulawesi. Using a qualitative descriptive approach, data were collected through interviews with 12 key informants, direct observations, and document analysis of innovation reports from 2021–2024. The results show that visionary and participatory leadership practices have significantly encouraged creativity, collaboration, and organizational learning among civil servants. Leadership initiatives such as Luwuk Smart Monday, Luwuk Satu Data, and Sehat Bersama Luwuk illustrate a growing transformation from procedural bureaucracy toward adaptive governance. Institutional barriers such as the absence of formal innovation units, limited technical capacity, and dependence on individual leadership still hinder sustainability. The findings suggest that transformational leadership acts as a bridge between structural reform and cultural change by shifting employee roles from rule enforcers to creative problem solvers. Strengthening policy frameworks, training programs, and innovation incentives is essential to embed innovation as a permanent organizational culture. Overall, Luwuk’s experience demonstrates that visionary leadership and institutional support are key to achieving effective and innovative local governance.