Chitra S De Silva Lokuwaduge | Victoria University, Melbourne (original) (raw)

Papers by Chitra S De Silva Lokuwaduge

Research paper thumbnail of Internal governance mechanisms and performance: a study of Australian universities

Research paper thumbnail of Corporate governance best practice and listing rules in Sri Lanka

The purpose of this paper is to critically examine the notion of corporate governance best practi... more The purpose of this paper is to critically examine the notion of corporate governance best practice giving special reference to Sri Lanka. Corporate governance repres ents 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 paper not only examines the nature of corporate governance best practice, but also discusses the characteristics of Sri Lankan stock market and the importance of best practice governance for the developing market economy of Sri Lanka. It is demonstrated that corporate governance in Sri Lanka has made progress toward be st practice, but, the paper argues, that substantial reforms remain to be implemented in order for accountability, transparency, and firm performance to be effectively promoted and sustained.

Research paper thumbnail of Governance and Performance: An Empirical Study of Australian Universities

Governance structures have become one of the most debated aspects of the public sector and during... more Governance structures have become one of the most debated aspects of the public sector and during the last decade good corporate governance practices have come to be regarded as important in enhancing the performance of all government-funded institutions. The purpose of this study was to examine the relationship between governance structures, practices and the performance of the university sector in Australia. During the period investigated in this study, the universities were undergoing significant governance reforms. Agency theory, which focuses on separation of ownership and control, and stewardship theory, which assumes the governing boards and managers both act in the best interests of their principals provided the theoretical basis for this study. The conceptual framework describes how the university council structures, processes and practices of the Australian universities could impact on their performance. In this framework, internal governance variables were council composition, council independence, committee structures, council process and transparency in reporting, and external governance mechanisms were represented by the influence of major stakeholders and the regulatory authority. The research explored the relationship of these variables to the performance of the universities in Australia. The dependent variable, university performance, was assessed by measures of research performance, teaching performance and the financial viability of universities. The sample for the study was 37 of the 39 publicly-funded universities in Australia. Two universities were omitted due to the special nature of these universities. Data were obtained from annual reports of the universities and the

Research paper thumbnail of Disclosure of Environmental Social and Governance (ESG) Risks: Risk of ‘If not why not’ for Australian Companies

Managing and reporting of Environmental Social and Governance (ESG) risk is of a rising importanc... more Managing and reporting of Environmental Social and Governance (ESG) risk is of a rising importance specifically with new Australian Securities exchange (ASX) regulations. Under ASX listing rules companies listed in the ASX are expected to comply with new Environmental Social and Governance (ESG) risk discloser requirements from the year 2015 and if they do not comply ‘ if not why not’ rule applies. This study seeks to provide insight into the current ESG risk disclosure practices in the Australian context giving special reference to the extractive sector companies. It is expected that managing of ESG risk would positively contribute to the overall financial performance, stakeholder value and corporate sustainability of those firms while the disclosure of the risk informs about the future profitability and sustainability of the company to its stakeholders including investors. . Key terms: environment, ESG risk disclosure, ‘if not why not’, sustainability, investors, stakeholders, Disclosure of Environmental Social and Governance (ESG) Risks: Risk of ‘If not why not’ for Australian Companies

Research paper thumbnail of Analysis of Governance and Performance of Australian Universities

Journal of the world universities forum, 2011

Research paper thumbnail of Exploring the New Public Management (NPM)-Based Reforms in the Public Sector Accounting

Advances in finance, accounting, and economics book series, 2016

This Chapter aims to explore the process of adopting International Public Sector Accounting Stand... more This Chapter aims to explore the process of adopting International Public Sector Accounting Standards (IPSAS) as a New Public Management (NPM) based reform in Sri Lanka as a developing country. Based on institutional theory and resource dependence theory, framework was developed to highlight the importance of reforms and of changes in the area of public sector accounting specifically during the last three decades. It shows the extent to which Sri Lankan public sector has adopted IPSAS based accounting reforms and the limitations of adopting these standards in developing countries. This chapter argues that adopting reforms in developing countries is problematic due to limited resources and concludes that, significant changes towards adoption of IPSAS and implementing some of the reform ideas has taken place during the last decade. Relatively little is known about the NPM-based reforms in public sector accounting practices in developing countries. This is an attempt to fill this gap.

Research paper thumbnail of Impact of corporate social responsibility practices on employee commitment

Social Responsibility Journal, Jan 9, 2020

Purpose-The purpose of this paper is to critically review the existing literature on corporate so... more Purpose-The purpose of this paper is to critically review the existing literature on corporate social responsibility (CSR) to develop a framework to analyse the impact of CSR on employee commitment to the organisation. Design/methodology/approach-Using the scoping review, this paper reviewed the published articles on CSR and employee commitment and how CSR and employee commitment were defined, theoretically supported and conceptualised for a comprehensive understanding of current and future research directions in the field. Findings-This paper presents a framework developed through the analysis of existing literature on the impact of CSR) on employee commitment to the organisation. This framework aims to explore the impact of internal CSR and external CSR on employee commitment while using the contractual position of employees as an intervening variable. Originality/value-During a time where employee attraction and retention is widely discussed as a competitive advantage, this framework could be used by any industry, especially those with high staff turnover such as mining. The researchers propose to use this framework to explore how perception towards external CSR (directed towards external stakeholders) and perception towards internal CSR (directed towards the own employees) can influence organisational identification and commitment levels. To address several gaps in the literature, this model is based on the Maslow's Hierarchy of Needs and Social-Identity Theory.

Research paper thumbnail of Integrating Environmental, Social and Governance (ESG) Disclosure for a Sustainable Development: An Australian Study

Business Strategy and The Environment, Dec 9, 2016

Research paper thumbnail of Independent Assurance of Sustainability Reports of Mining Sector Companies in Australia

SSRN Electronic Journal, 2015

The recent trend towards company’s responsibility for social, environmental and economic performa... more The recent trend towards company’s responsibility for social, environmental and economic performance has resulted in sustainability reporting in varying levels. Even though there is a growing trend towards sustainability reporting which is of voluntary nature, not much attention is given to the credibility of such information through external assurance. The paper investigates the extent of sustainability reporting in the mining sector companies in Australia and their assurance practices. The annual reports were examined for top 100 ASX listed companies in the mining sector in Australia for 2013-2014. This study identified 18% of companies had a sustainability report, however, only 44% of the sustainability reports were audited either by accountants or independent assurance providers. This showed that there is variability in assurance practices. They also used various assurance standards and mainly reported on emissions. The criteria reported by the assurance providers varied. The most reported criteria in this study were accuracy, followed by materiality and consistency.The paper will conclude that the criteria used for assurance is vague, as there were no accepted assurance criteria for non-financial reporting. This is a part of a major study which is investigating the criteria used for assurance. This study shows that there is a need to develop generally acceptable criteria for assurance of non-financial information in sustainability reports. The criteria that can be applied by assurance providers would be significant for auditing profession and independent providers as well as standard setters, which will provide credible information for users of such information.

Research paper thumbnail of Investigation of criteria used for assurance practices of sustainability reporting in Australian listed companies

Research paper thumbnail of Editorial Volume 16 Issue 2. March 2022

The Australasian Accounting Business and Finance Journal, 2022

This Special Issue is based on selected papers from the Environmental Social and Governance (ESG)... more This Special Issue is based on selected papers from the Environmental Social and Governance (ESG) and Sustainability Conference (2021). This is the second ESG conference held by Victoria University Business School (VUBS) and the Institute of Sustainable Industries and the Liveable Cities (ISILC) of Victoria University, Melbourne, Australia.

Research paper thumbnail of Accounting Reforms for Accountable Public Sector Management

IGI Global eBooks, 2020

Accounting reforms in the public sector have become one of the most debated aspects of the public... more Accounting reforms in the public sector have become one of the most debated aspects of the public sector financial management during the last three decades. Following the steps of developed countries around the globe, Sri Lanka as a developing country made initiatives to adopt international public sector accounting standards (IPSAS). The purpose of this study is to analyse the progress and the challenges they face in adopting IPSAS as a new public management (NPM) reform in Sri Lanka to enhance public sector accountability. Public sector accounting reforms in the developing countries in Asia is relatively under researched. Using the NPM concept, this study attempts to fill this gap. This chapter argues that even though Sri Lanka has initiated the move towards adopting IPSAS, developing countries face practical problems in adopting reforms due to their contextual factors such as limited institutional capacity and resources, high political involvements in decision-making, and high informality.

Research paper thumbnail of Editorial Volume 16 Issue 2. March 2022

The Australasian Accounting Business and Finance Journal, 2022

This Special Issue is based on selected papers from the Environmental Social and Governance (ESG)... more This Special Issue is based on selected papers from the Environmental Social and Governance (ESG) and Sustainability Conference (2021). This is the second ESG conference held by Victoria University Business School (VUBS) and the Institute of Sustainable Industries and the Liveable Cities (ISILC) of Victoria University, Melbourne, Australia.

Research paper thumbnail of Emerging Corporate Disclosure of Environmental Social and Governance (ESG) Risks: An Australian Study

Australasian Accounting, Business and Finance Journal, 2020

Today, companies across all industries around the globe face the challenges of unprecedented disr... more Today, companies across all industries around the globe face the challenges of unprecedented disruption due to climate change and other social disruptions. It is the responsibility of standard setters and regulators of the financial sector to constantly encourage industries to adopt and respond instead of ignoring the disruption. Environmental Social and Governance (ESG) risk disclosure is one of the main emerging corporate disclosures of rising importance. Specifically with new Australian Securities Exchange (ASX) listing rules companies listed in the ASX are expected to comply with new Environmental Social and Governance (ESG) risk discloser requirements from the year 2016 and if they do not comply, the 'if not, why not' rule applies. This study seeks to provide insight into the current ESG risk disclosure practices in the Australian context giving particular reference to the extractive sector companies for which ESG disclosure has become a crucial reporting requirement.

Research paper thumbnail of The Surge of Environmental Social and Governance Reporting and Sustainable Development Goals: Some Normative Thoughts

Australasian Business, Accounting and Finance Journal, 2022

The rising demand for Environmental Social and Governance (ESG) disclosure by stakeholders has cr... more The rising demand for Environmental Social and Governance (ESG) disclosure by stakeholders has created a new tide of sustainability reporting, including Sustainable Development Goals (SDGs). With this new rising tide, the need for enhanced credibility in ESG information has stimulated the development of carbon accounting, ESG disclosure measures and regulations around the world. The aim of this article is to analyse the risks and opportunities of ESG practices and the impact of different stakeholders on the measures, tools and frameworks, including SDGs used among different sectors to report sustainability performance. This study finds that business leaders worldwide have an opportunity to use transparent information about ESG risks and opportunities to promote more effective engagement with investors and other stakeholders and global, national and organisational leaders have a legal and ethical responsibility to deliver sustainable outcomes to their global and local communities.

Research paper thumbnail of Governance Best Practice of Australian Universities

SSRN Electronic Journal, 2010

... 1 GOVERNANCE BEST PRACTICE OF AUSTRALIAN UNIVERSITIES Chitra Sriyani De Silva LW Victoria Uni... more ... 1 GOVERNANCE BEST PRACTICE OF AUSTRALIAN UNIVERSITIES Chitra Sriyani De Silva LW Victoria University Chitra.desilva@mcpl.monash.edu.au Abstract ... France C. Semi-Independent A statutory body, a charity or a non profit corporation subject to MOE control ...

Research paper thumbnail of Sustainable Development Goals and Businesses as Active Change Agents

Australasian Accounting, Business and Finance Journal, 2020

Nations worldwide are expected to be accountable for a sustainable economic development without c... more Nations worldwide are expected to be accountable for a sustainable economic development without compromising environmental and social safeguards. Embracing and spreading leadership actions and interactions in relation to sustainability positively contributes to more ethical and responsible leadership which makes business seen as active change agents in enhancing corporate social responsibility and corporate citizenship. Sustainable Development Goals has identified as a common indicator to measure sustainability. Using the role of business as the active change agent, this article highlight how different sectors and business contribute of achieving these goals giving special reference to the Australasian region.

Research paper thumbnail of An evaluation of governance mechanisms as determinants of performance: A case study of Australian universities

Evaluation Journal of Australasia, 2015

The premise underlying the introduction of corporate governance principles in the Australian high... more The premise underlying the introduction of corporate governance principles in the Australian higher education sector is that good governance results in good performance. The purpose of this paper is to evaluate the influence of internal and external corporate governance mechanisms as determinants of performance in the context of Australian publicly-funded universities. Secondary data from annual reports were transformed to create indices of internal and external governance practices, and teaching, research and financial performance. Relationships between governance and performance were analysed using correlation analysis. The study illustrated in this paper is important as literature suggests that corporate governance mechanisms and the influence of these mechanisms on performance are contradictory. The results of this study do not support the contention that in Australia, the governance of universities has a significant relationship with their performance.

Research paper thumbnail of 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 implem... more 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.

Research paper thumbnail of Evaluation of Corporate Governance Measures: An Application to the Australian Higher Education SectorEvaluation of Corporate Governance Measures: An Application to the Australian Higher Education Sector

Journal of Business Systems, Governance & Ethics, 2012

Governance has emerged as a major concern in the higher education sector. Although evaluation of ... more Governance has emerged as a major concern in the higher education sector. Although evaluation of performance of governance is widely used in the private and public sectors, little attention has been given to the assessment of good governance practices in university contexts. The purpose of this paper was to describe the changes in government policy associated with the introduction of Governance Protocols that have impacted on the higher education sector and to answer the research question: do Australian Universities apply the best practice corporate governance measures?. Data for the study were compiled from annual reports and the Web pages of 37 publically funded universities in Australia and Selected Higher Education Statistics Collection. The assessment criteria were derived from the National Governance Protocols. Findings revealed that Australian universities as independent corporations apply the universal best practice corporate governance indicators as governance measures.

Research paper thumbnail of Internal governance mechanisms and performance: a study of Australian universities

Research paper thumbnail of Corporate governance best practice and listing rules in Sri Lanka

The purpose of this paper is to critically examine the notion of corporate governance best practi... more The purpose of this paper is to critically examine the notion of corporate governance best practice giving special reference to Sri Lanka. Corporate governance repres ents 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 paper not only examines the nature of corporate governance best practice, but also discusses the characteristics of Sri Lankan stock market and the importance of best practice governance for the developing market economy of Sri Lanka. It is demonstrated that corporate governance in Sri Lanka has made progress toward be st practice, but, the paper argues, that substantial reforms remain to be implemented in order for accountability, transparency, and firm performance to be effectively promoted and sustained.

Research paper thumbnail of Governance and Performance: An Empirical Study of Australian Universities

Governance structures have become one of the most debated aspects of the public sector and during... more Governance structures have become one of the most debated aspects of the public sector and during the last decade good corporate governance practices have come to be regarded as important in enhancing the performance of all government-funded institutions. The purpose of this study was to examine the relationship between governance structures, practices and the performance of the university sector in Australia. During the period investigated in this study, the universities were undergoing significant governance reforms. Agency theory, which focuses on separation of ownership and control, and stewardship theory, which assumes the governing boards and managers both act in the best interests of their principals provided the theoretical basis for this study. The conceptual framework describes how the university council structures, processes and practices of the Australian universities could impact on their performance. In this framework, internal governance variables were council composition, council independence, committee structures, council process and transparency in reporting, and external governance mechanisms were represented by the influence of major stakeholders and the regulatory authority. The research explored the relationship of these variables to the performance of the universities in Australia. The dependent variable, university performance, was assessed by measures of research performance, teaching performance and the financial viability of universities. The sample for the study was 37 of the 39 publicly-funded universities in Australia. Two universities were omitted due to the special nature of these universities. Data were obtained from annual reports of the universities and the

Research paper thumbnail of Disclosure of Environmental Social and Governance (ESG) Risks: Risk of ‘If not why not’ for Australian Companies

Managing and reporting of Environmental Social and Governance (ESG) risk is of a rising importanc... more Managing and reporting of Environmental Social and Governance (ESG) risk is of a rising importance specifically with new Australian Securities exchange (ASX) regulations. Under ASX listing rules companies listed in the ASX are expected to comply with new Environmental Social and Governance (ESG) risk discloser requirements from the year 2015 and if they do not comply ‘ if not why not’ rule applies. This study seeks to provide insight into the current ESG risk disclosure practices in the Australian context giving special reference to the extractive sector companies. It is expected that managing of ESG risk would positively contribute to the overall financial performance, stakeholder value and corporate sustainability of those firms while the disclosure of the risk informs about the future profitability and sustainability of the company to its stakeholders including investors. . Key terms: environment, ESG risk disclosure, ‘if not why not’, sustainability, investors, stakeholders, Disclosure of Environmental Social and Governance (ESG) Risks: Risk of ‘If not why not’ for Australian Companies

Research paper thumbnail of Analysis of Governance and Performance of Australian Universities

Journal of the world universities forum, 2011

Research paper thumbnail of Exploring the New Public Management (NPM)-Based Reforms in the Public Sector Accounting

Advances in finance, accounting, and economics book series, 2016

This Chapter aims to explore the process of adopting International Public Sector Accounting Stand... more This Chapter aims to explore the process of adopting International Public Sector Accounting Standards (IPSAS) as a New Public Management (NPM) based reform in Sri Lanka as a developing country. Based on institutional theory and resource dependence theory, framework was developed to highlight the importance of reforms and of changes in the area of public sector accounting specifically during the last three decades. It shows the extent to which Sri Lankan public sector has adopted IPSAS based accounting reforms and the limitations of adopting these standards in developing countries. This chapter argues that adopting reforms in developing countries is problematic due to limited resources and concludes that, significant changes towards adoption of IPSAS and implementing some of the reform ideas has taken place during the last decade. Relatively little is known about the NPM-based reforms in public sector accounting practices in developing countries. This is an attempt to fill this gap.

Research paper thumbnail of Impact of corporate social responsibility practices on employee commitment

Social Responsibility Journal, Jan 9, 2020

Purpose-The purpose of this paper is to critically review the existing literature on corporate so... more Purpose-The purpose of this paper is to critically review the existing literature on corporate social responsibility (CSR) to develop a framework to analyse the impact of CSR on employee commitment to the organisation. Design/methodology/approach-Using the scoping review, this paper reviewed the published articles on CSR and employee commitment and how CSR and employee commitment were defined, theoretically supported and conceptualised for a comprehensive understanding of current and future research directions in the field. Findings-This paper presents a framework developed through the analysis of existing literature on the impact of CSR) on employee commitment to the organisation. This framework aims to explore the impact of internal CSR and external CSR on employee commitment while using the contractual position of employees as an intervening variable. Originality/value-During a time where employee attraction and retention is widely discussed as a competitive advantage, this framework could be used by any industry, especially those with high staff turnover such as mining. The researchers propose to use this framework to explore how perception towards external CSR (directed towards external stakeholders) and perception towards internal CSR (directed towards the own employees) can influence organisational identification and commitment levels. To address several gaps in the literature, this model is based on the Maslow's Hierarchy of Needs and Social-Identity Theory.

Research paper thumbnail of Integrating Environmental, Social and Governance (ESG) Disclosure for a Sustainable Development: An Australian Study

Business Strategy and The Environment, Dec 9, 2016

Research paper thumbnail of Independent Assurance of Sustainability Reports of Mining Sector Companies in Australia

SSRN Electronic Journal, 2015

The recent trend towards company’s responsibility for social, environmental and economic performa... more The recent trend towards company’s responsibility for social, environmental and economic performance has resulted in sustainability reporting in varying levels. Even though there is a growing trend towards sustainability reporting which is of voluntary nature, not much attention is given to the credibility of such information through external assurance. The paper investigates the extent of sustainability reporting in the mining sector companies in Australia and their assurance practices. The annual reports were examined for top 100 ASX listed companies in the mining sector in Australia for 2013-2014. This study identified 18% of companies had a sustainability report, however, only 44% of the sustainability reports were audited either by accountants or independent assurance providers. This showed that there is variability in assurance practices. They also used various assurance standards and mainly reported on emissions. The criteria reported by the assurance providers varied. The most reported criteria in this study were accuracy, followed by materiality and consistency.The paper will conclude that the criteria used for assurance is vague, as there were no accepted assurance criteria for non-financial reporting. This is a part of a major study which is investigating the criteria used for assurance. This study shows that there is a need to develop generally acceptable criteria for assurance of non-financial information in sustainability reports. The criteria that can be applied by assurance providers would be significant for auditing profession and independent providers as well as standard setters, which will provide credible information for users of such information.

Research paper thumbnail of Investigation of criteria used for assurance practices of sustainability reporting in Australian listed companies

Research paper thumbnail of Editorial Volume 16 Issue 2. March 2022

The Australasian Accounting Business and Finance Journal, 2022

This Special Issue is based on selected papers from the Environmental Social and Governance (ESG)... more This Special Issue is based on selected papers from the Environmental Social and Governance (ESG) and Sustainability Conference (2021). This is the second ESG conference held by Victoria University Business School (VUBS) and the Institute of Sustainable Industries and the Liveable Cities (ISILC) of Victoria University, Melbourne, Australia.

Research paper thumbnail of Accounting Reforms for Accountable Public Sector Management

IGI Global eBooks, 2020

Accounting reforms in the public sector have become one of the most debated aspects of the public... more Accounting reforms in the public sector have become one of the most debated aspects of the public sector financial management during the last three decades. Following the steps of developed countries around the globe, Sri Lanka as a developing country made initiatives to adopt international public sector accounting standards (IPSAS). The purpose of this study is to analyse the progress and the challenges they face in adopting IPSAS as a new public management (NPM) reform in Sri Lanka to enhance public sector accountability. Public sector accounting reforms in the developing countries in Asia is relatively under researched. Using the NPM concept, this study attempts to fill this gap. This chapter argues that even though Sri Lanka has initiated the move towards adopting IPSAS, developing countries face practical problems in adopting reforms due to their contextual factors such as limited institutional capacity and resources, high political involvements in decision-making, and high informality.

Research paper thumbnail of Editorial Volume 16 Issue 2. March 2022

The Australasian Accounting Business and Finance Journal, 2022

This Special Issue is based on selected papers from the Environmental Social and Governance (ESG)... more This Special Issue is based on selected papers from the Environmental Social and Governance (ESG) and Sustainability Conference (2021). This is the second ESG conference held by Victoria University Business School (VUBS) and the Institute of Sustainable Industries and the Liveable Cities (ISILC) of Victoria University, Melbourne, Australia.

Research paper thumbnail of Emerging Corporate Disclosure of Environmental Social and Governance (ESG) Risks: An Australian Study

Australasian Accounting, Business and Finance Journal, 2020

Today, companies across all industries around the globe face the challenges of unprecedented disr... more Today, companies across all industries around the globe face the challenges of unprecedented disruption due to climate change and other social disruptions. It is the responsibility of standard setters and regulators of the financial sector to constantly encourage industries to adopt and respond instead of ignoring the disruption. Environmental Social and Governance (ESG) risk disclosure is one of the main emerging corporate disclosures of rising importance. Specifically with new Australian Securities Exchange (ASX) listing rules companies listed in the ASX are expected to comply with new Environmental Social and Governance (ESG) risk discloser requirements from the year 2016 and if they do not comply, the 'if not, why not' rule applies. This study seeks to provide insight into the current ESG risk disclosure practices in the Australian context giving particular reference to the extractive sector companies for which ESG disclosure has become a crucial reporting requirement.

Research paper thumbnail of The Surge of Environmental Social and Governance Reporting and Sustainable Development Goals: Some Normative Thoughts

Australasian Business, Accounting and Finance Journal, 2022

The rising demand for Environmental Social and Governance (ESG) disclosure by stakeholders has cr... more The rising demand for Environmental Social and Governance (ESG) disclosure by stakeholders has created a new tide of sustainability reporting, including Sustainable Development Goals (SDGs). With this new rising tide, the need for enhanced credibility in ESG information has stimulated the development of carbon accounting, ESG disclosure measures and regulations around the world. The aim of this article is to analyse the risks and opportunities of ESG practices and the impact of different stakeholders on the measures, tools and frameworks, including SDGs used among different sectors to report sustainability performance. This study finds that business leaders worldwide have an opportunity to use transparent information about ESG risks and opportunities to promote more effective engagement with investors and other stakeholders and global, national and organisational leaders have a legal and ethical responsibility to deliver sustainable outcomes to their global and local communities.

Research paper thumbnail of Governance Best Practice of Australian Universities

SSRN Electronic Journal, 2010

... 1 GOVERNANCE BEST PRACTICE OF AUSTRALIAN UNIVERSITIES Chitra Sriyani De Silva LW Victoria Uni... more ... 1 GOVERNANCE BEST PRACTICE OF AUSTRALIAN UNIVERSITIES Chitra Sriyani De Silva LW Victoria University Chitra.desilva@mcpl.monash.edu.au Abstract ... France C. Semi-Independent A statutory body, a charity or a non profit corporation subject to MOE control ...

Research paper thumbnail of Sustainable Development Goals and Businesses as Active Change Agents

Australasian Accounting, Business and Finance Journal, 2020

Nations worldwide are expected to be accountable for a sustainable economic development without c... more Nations worldwide are expected to be accountable for a sustainable economic development without compromising environmental and social safeguards. Embracing and spreading leadership actions and interactions in relation to sustainability positively contributes to more ethical and responsible leadership which makes business seen as active change agents in enhancing corporate social responsibility and corporate citizenship. Sustainable Development Goals has identified as a common indicator to measure sustainability. Using the role of business as the active change agent, this article highlight how different sectors and business contribute of achieving these goals giving special reference to the Australasian region.

Research paper thumbnail of An evaluation of governance mechanisms as determinants of performance: A case study of Australian universities

Evaluation Journal of Australasia, 2015

The premise underlying the introduction of corporate governance principles in the Australian high... more The premise underlying the introduction of corporate governance principles in the Australian higher education sector is that good governance results in good performance. The purpose of this paper is to evaluate the influence of internal and external corporate governance mechanisms as determinants of performance in the context of Australian publicly-funded universities. Secondary data from annual reports were transformed to create indices of internal and external governance practices, and teaching, research and financial performance. Relationships between governance and performance were analysed using correlation analysis. The study illustrated in this paper is important as literature suggests that corporate governance mechanisms and the influence of these mechanisms on performance are contradictory. The results of this study do not support the contention that in Australia, the governance of universities has a significant relationship with their performance.

Research paper thumbnail of 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 implem... more 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.

Research paper thumbnail of Evaluation of Corporate Governance Measures: An Application to the Australian Higher Education SectorEvaluation of Corporate Governance Measures: An Application to the Australian Higher Education Sector

Journal of Business Systems, Governance & Ethics, 2012

Governance has emerged as a major concern in the higher education sector. Although evaluation of ... more Governance has emerged as a major concern in the higher education sector. Although evaluation of performance of governance is widely used in the private and public sectors, little attention has been given to the assessment of good governance practices in university contexts. The purpose of this paper was to describe the changes in government policy associated with the introduction of Governance Protocols that have impacted on the higher education sector and to answer the research question: do Australian Universities apply the best practice corporate governance measures?. Data for the study were compiled from annual reports and the Web pages of 37 publically funded universities in Australia and Selected Higher Education Statistics Collection. The assessment criteria were derived from the National Governance Protocols. Findings revealed that Australian universities as independent corporations apply the universal best practice corporate governance indicators as governance measures.