Corporate Governance Responses to Hidden Institutional Complexity in Emerging Market Multinationals

Zakhi Bailatul Nur Avian; Eko Putro Wibowo

doi:10.69725/ami.v1i1.235

Authors

Zakhi Bailatul Nur Avian Doctorate in Management Studies, Kazian School of Management, Mumbai, India
Eko Putro Wibowo Kazian School of Management, Mumbai, India

DOI:

https://doi.org/10.69725/ami.v1i1.235

Keywords:

Adaptive Corporate Governance, Sustainable Adaptation, Institutional Voids, Organizational Identity, Ethical Governance

Abstract

Purpose: Examining the impact of organizational identity challenges (OIC), social capital mismatch (SCM), intention–action contradiction (IAC), institutional voids (IV), and ethical governance mechanisms (EGM) on sustainable adaptation and the moderating role of Adaptive Corporate Governance (ACG) on these relationship
Method: Using structured survey data, this study examined direct and interaction effects of 5 constructs as independent variables and their moderation effects of ACG using hierarchical moderated regression.
Findings: Sustainable adaptation was similarly driven by all five predictors considered All four OIC, SCM, IAC and IV were detrimental, while EGM was beneficial. ACG was a strong moderator of all relationships, weakening the adverse effects and strengthening the positive effects.
Novelty: Here a new conceptualization of Adaptive Corporate Governance as a dynamic multi-level governance construct is presented that has potential to harmonize internal governance mechanisms with external environmental turbulence. But, unlike the prior models which tend to conceptualize governance as static or compliance dimension, ACG is conceptualized here as an active and strategic capability for resilience and strategic reconfiguration which has significant implications for emerging economies and firms embedded in high institutional flux.
Implications: The results underscore the importance of flexible, ethically-grounded governance practices within organizations that can readily adapt to a variety of challenges and crises stemming from both inside and outside the organizations. Building adaptive governance capacities will have to be a top priority for policymakers and boards alike, who must ensure they connect the structural dots that will ultimately lead to long-term sustainability.

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Author Biographies

Zakhi Bailatul Nur Avian, Doctorate in Management Studies, Kazian School of Management, Mumbai, India

Zakhi Bailatul Nur Avian, S.A.P., MBA, MPM. is an academic and public management practitioner currently pursuing his doctoral degree in Management at Kazian School of Management, Mumbai, India. With an academic background in public administration, business management, and project management, he is active in multidisciplinary research activities focusing on managerial innovation, public policy management, and organisational sustainability. Zakhi is recognised for his data-driven approach and sensitivity to local context in bringing adaptive and applicable managerial solutions. He has published several papers on Google Scholar and is actively involved in cross-institutional research collaborations. His research profile can be traced through ORCID: 0009-0004-1555-9525
Eko Putro Wibowo, Kazian School of Management, Mumbai, India

Dr. Eko Putro Wibowo, S.E., M.B.A., M.H.R.M.T.M. adalah seorang profesional dan akademisi di bidang manajemen strategis dan sumber daya manusia, serta saat ini berafiliasi dengan program doktoral di Kazian School of Management, Mumbai, India. Dengan latar belakang pendidikan dan pengalaman yang kuat di bidang akuntansi, manajemen bisnis, serta human resource management & training management, Dr. Eko aktif sebagai konsultan pajak dan strategi bisnis di berbagai perusahaan dan lembaga. Beliau juga merupakan peneliti aktif yang telah mempublikasikan berbagai artikel ilmiah dalam jurnal bereputasi, khususnya terkait tata kelola organisasi, inovasi SDM, dan efisiensi kebijakan publik. Profil riset beliau tersedia melalui ORCID: 0009-0009-0121-9892 dan Google Scholar: Dr. Eko Putro Wibowo.

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