GDP, monetary variables, corruption, and uncertainty are crucial to energy policy decisions in today’s interrelated world. The global energy crisis, aggravated by rising energy prices, has sparked a thorough analysis of its causes. We demonstrate the significance of categorizing research by influence channels while focusing on their implications for energy policy decisions. We investigate the growing number of studies that use GDP, inflation, central banks’ characteristics, corruption, and uncertainty as critical factors in determining energy policies. Energy prices fluctuate because energy policies shift the supply–demand equilibrium. We categorise the effects and show that GDP, economic policy uncertainty, and, most notably, specific economic conditions and extreme events play a significant role in determining energy prices. We observed that energy consumption, GDP growth, and energy prices have a bidirectional, causal relationship. Still, the literature has not established which causative direction is the most significant. Taxes, interest rates, and corruption also significantly determine energy prices, although the origins of corruption have not been adequately examined. Lastly, uncertainty generally increases energy costs, but this relationship requires additional research in terms of the features of countries, conditions, and, most importantly, the theoretical backgrounds used.

Aim and background—As research on the energy and electricity consumption determinants yields mixed results and a multifactorial model has not yet been developed, our study aims to investigate the growth dynamics of the factors that affect energy consumption in developed and developing countries. Motivation—The current global energy crisis has led us to a thorough investigation of the determinants that are affecting it. Hypothesis—It is hypothesized that a set of macro-financial, macro-environmental, and institutional variables are factors that causally affect energy and electricity consumption in a holistic model. Μethods—This research uses the data from 109 countries within a multivariate panel framework taken during 2010–2018, through the error correction, dynamic cointegration econometric methodologies, and causality tests. Results—The results indicate a coherent model with high interpretive power (80%) and that the main determinants of energy consumption in developing countries are economic growth, investment, and winter temperature, whereas, in developed countries, the determinants are trade openness, corruption, and innovation. Conclusion—Because energy consumption and economic growth share a bilateral relationship, the conservation of energy policy measures must be implemented according to the income category in which the country is classified.

Purpose: This paper attempts to investigate the effect of corruption on the real and accrual earnings management of target firms in the process of mergers and acquisitions.Design/methodology/approach: The sample includes target firms from the European area that participate in mergers or acquisitions announced during 2010–2020. The preliminary empirical part estimates the level of earnings management during the period two years before the deal's announcement to identify whether the sample follows the manipulation behavior that the literature suggests for target firms. The primary empirical analysis focuses on the impact of corruption on real and accrual-based earnings management proxies, employing regression models and two alternative proxies for corruption. The existing literature points out that the combination of low levels of corruption and an integrated legal system reduces earnings manipulation.Findings: The findings provide strong evidence for systematic downwards accounting manipulation practices, whereas the findings for real earnings management are not significant. The findings of the main empirical part show that corruption is positively associated with accrual-based manipulation and negatively related to real earnings management. In essence, in economies with a high level of transparency, managers adopt the manipulation of operating activities as a less detectable practice of earnings management instead of engaging in accounting procedures.Originality/value: This study contributes to the literature highlighting the diversification of these firms' manipulation strategies according to the national level's corruption status.

This study investigates the effect of the characteristics of the board of directors on the accrual and real earnings management level, focusing on the role of the corruption level. The employed dataset consists of 469 European-listed firms from 2011 to 2019. Using a fixed-effect panel data regression model, the results documented that larger boards lack coordination and communication in less corrupt economies, facilitating earnings manipulation through accruals and sales. In highly corrupt countries, oversized boards are associated with increased manipulation of production costs and discretionary expenses. Board meetings are positively related to accrual and sales manipulation in low-corruption countries, and board independence leads to reducing discretionary expenses regardless of corruption level. Board tenure negatively affects accruals and discretionary expenses but tends to increase manipulation through production costs in low-corruption contexts. Additionally, when the CEO serves as the board chairman, it encourages the manipulation of discretionary expenses while reducing real earnings manipulation through sales and production costs. In aggregate, the level of corruption can influence a board’s effectiveness under specific conditions.

Liquidity Efficiency in the Greek Listed Firms: A Financial Ratio Based on Data Envelopment Analysis: 10.4018/ijcfa.2014010103: The scope of this paper is to investigate the liquidity efficiency of the Food and Beverage listed firms in the Athens Exchange, for the period 2006-2009