There is a scarcity of literature involving studies about the effect of risk management on the relationship between corporate governance and a firm’s financial performance, especially in emerging markets. The study fills this gap and adds to the existing literature by investigating whether risk management acts as a mediator between corporate governance and the firm’s financial performance. This study found that risk management partially mediates the relationship between board size and financial performance. Our results further indicate that risk management acts as a partial mediator between foreign ownership and financial performance.

The purpose of this study is to examine the monetary policy transmission mechanisms in seven South Asian Association for Regional Cooperation (SAARC) countries to discover the viability of the convergence of the SAARC into a monetary and economic union based on common monetary channels. By employing optimal currency area theory, we used the restricted VAR analysis on the annual data from 1978 to 2017. We find that the money channel response provides proof for the presence of an exchange rate and credit channels. Furthermore, the real sector also responds to changes in fiscal and monetary shocks through the exchange rate and credit channels over short-run to long-run time horizons. This implies that the SAARC is a good candidate due to common exchange rate and credit channels. The function of the variance decomposition and the impulse for forming a monetary and economic union is that they share a coincidental pattern of dynamic reactions of inflation and growth to exogenous shocks. If the SAARC monetary and economic union is created, it will reap overall economic benefits inside and outside of Asia just like the European Union (EU).

The objective of this study is to examine the role of environmental performance and governance in promoting sustainable development. This study employs secondary data spanning from 2015 to 2022 from different sources, including the World Governance Indicators Index, the environmental performance of the countries, and sustainable development goals. We used Eviews-9 software and applied panel regression techniques to analyses the data. We found that there was a negative impact of governance on sustainable development, and results suggested that the governments, policy makers, and other stakeholders have to change the existing model of governance to achieve sustainable development goals. In contrast, environmental performance positively affects sustainable development, indicating that in order to achieve sustainable development goals, the government, businesses, and other stakeholders must concentrate on the environmental performance of their respective nations. Moreover, a country’s environmental performance mediates the relationship between governance and sustainable development goals. The findings indicated that environmental performance has a mediating role in achieving sustainable development and that governance alone is insufficient to do so. As a result, for the country to promote sustainable development goals, all stakeholders must support environmental protection initiatives.

The authors would like to make the following corrections about the published paper