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    Beyond Compliance: How Board-Ownership Structures and Eco-Technology Intensity Drive Circular Economy Performance in MENA Firms
    (Wiley, 2025) KaoDui, Li; Kongkuah, Maxwell; Alessa, Noha
    As global environmental challenges intensify and resource scarcity deepens, firms in emerging economies face mounting pressure to adopt sustainable and circular business models. In this context, the role of corporate governance in enabling circular economy (CE) transformation has become increasingly critical, yet remains underexplored-particularly in the Middle East and North Africa (MENA) region. This study investigates the impact of board-ownership dynamics on CE performance, with a specific focus on the moderating role of eco-technology intensity among listed manufacturing firms. Grounded in agency theory and the resource-based view, the research proposes an integrated framework that links internal governance attributes and ownership structures with firm-level CE outcomes. Using panel data from 447 firms across MENA countries between 2010 and 2022, the study employs system and difference Generalized Method of Moments (GMM) estimators to address endogeneity and firm-level heterogeneity. The results reveal that gender and age diversity, independent directors, managerial, and institutional ownership significantly enhance CE performance, while CEO duality and foreign ownership undermine it. Family ownership shows no significant effect. Notably, eco-technology intensity strengthens the influence of effective governance while mitigating the drawbacks of weaker structures. Heterogeneity analysis further indicates that the governance-CE relationship varies across regional (Middle East vs. North Africa) and production process contexts. These findings contribute to the theoretical advancement of governance and sustainability literature and offer actionable insights for firms, regulators, and policymakers committed to driving CE transitions in emerging markets.
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    The Strategic Role of Circular Economy Innovations and Stakeholder Engagement in Advancing Responsible Production and Consumption
    (Wiley, 2025) KaoDui, Li; Kongkuah, Maxwell
    As the urgency of global sustainability goals intensifies, achieving responsible production and consumption (RPC) has become a critical priority, especially in emerging markets where economic growth must be balanced with environmental stewardship. Businesses play a pivotal role in advancing sustainability, and understanding how governance practices influence RPC is essential for aligning corporate strategies with global objectives. This study investigates how circular economy innovations and stakeholder engagement moderate the link between indigenous directors and RPC. Using secondary data from 439 manufacturing firms across MENA countries between 2012 and 2022, we employed the method of moments quantile regression (MMQR) and fixed effects estimations, addressing endogeneity through GMM modeling and propensity score matching techniques. Our findings demonstrate that indigenous directors significantly enhance RPC across all quantiles. Additionally, circular economy innovations not only advance RPC but also amplify the positive effects of indigenous directors on sustainable practices. Stakeholder engagement further strengthens this relationship, particularly in higher quantiles, underscoring the importance of inclusive governance for achieving sustainability goals. These insights provide actionable implications for business leaders and policymakers, particularly in the MENA region, by emphasizing the strategic integration of Indigenous leadership and circular economy innovations into corporate governance. This study offers a framework for aligning business strategies with global sustainability objectives, notably SDG 12 while also contributing to the literature on strategic management and sustainability. By highlighting the role of Indigenous leadership in driving sustainable practices, this research provides valuable guidance for firms and policymakers seeking to advance environmental sustainability in emerging market economies.
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    Unmasking Sustainability Justice Performance to Achieve SDG 16 in MENA: Insights From Heterogeneous Analysis
    (Wiley, 2025) KaoDui, Li; Kongkuah, Maxwell; Alessa, Noha
    In an era where sustainability is paramount, the role of corporate governance in promoting sustainability justice remains underexplored, particularly in emerging regions such as MENA. This study extends the literature on corporate governance and sustainability by examining the relationship between corporate governance mechanisms and sustainability justice performance (SJP) in MENA firms. Drawing on agency theory and normative ethics (consequentialism), the study hypothesizes that effective governance mitigates agency conflicts and fosters ethical decision-making, thereby enhancing sustainability justice. To test these hypotheses, we analyze a dataset of 727 listed firms in MENA from 2010 to 2022, using robust econometric techniques and instrumental variables to address endogeneity concerns. The findings show that, regarding structural attributes, board independence and board size are positively linked with SJP, whereas the board members' shareholding proportion and CEO duality show negative effects. Concerning diversity attributes, gender diversity has a positive impact on SJP, but foreign nationals negatively affect SJP. Regarding process attributes, board members' remuneration, board meetings, and board tenure all have positive links with SJP. Additionally, there is significant heterogeneity in how corporate governance impacts SJP across industries, ownership types, and dimensions of sustainability. The results are robust after rigorous checks and sensitivity analyses. Policymakers should prioritize reforms that strengthen board independence, promote gender diversity, and encourage more frequent board meetings to improve sustainability justice. Additionally, limiting shareholder power, addressing CEO duality, and aligning executive compensation with sustainability goals will enhance governance and foster long-term positive sustainability outcomes across the MENA region.