Search results for "Exchange"
showing 10 items of 2035 documents
Recognising mitigation: Three tests for its identification
2020
Abstract Linguistic mitigation is a pragmatic phenomenon that has been profusely treated in the literature, and yet there are few studies dedicated exclusively to offering methodological criteria for its recognition and analysis (but see Albelda, 2010 and Albelda et al., 2014). Consequently, the researcher must infer the methods for its recognition through problems arising during the analysis or through the examples and reflections offered by the authors who have addressed the issue. The purpose of this article is twofold. Firstly, to present some of the main keys for the recognition of mitigation presented by the bibliography, such as the catalogues of mitigation devices, the context, the …
Combining expertise from linguistics and tourism: a tale of two cities
2020
This case study presents the results of an interdisciplinary Virtual Exchange (VE) that was arranged between Finnish and Polish students in 2019. During their six-week collaboration, the students of language studies at the University of Jyväskylä, Finland, worked in teams together with their Polish peers specialising in information and communications technology and management in tourism at Adam Mickiewicz University in Poznań, Poland. The international teams combined their linguistic and tourism-promotion expertise, and, using collaborative digital tools, grappled with the tasks of analysing the official municipal city websites and promoting the lesser-known aspects of their sister cities (…
Corporate Governance and Capital Structure: A Spanish Study
2016
This study explores the relationship between capital structure and corporate governance using a data panel of Spanish listed firms over the period 2005 to 2011. Specifically, two notable conflicts in the area of corporate governance have been analysed: (i) managerial ownership; and (ii) controlling shareholders ownership. Our findings confirm a non-monotonic relationship between both managerial ownership and ownership concentration, and capital structure. In order to mitigate endogeneity concerns, a number of robustness tests have been performed. The empirical evidence obtained yields a number of implications such as the shareholders' need to monitor entrenched managers, the insufficient pr…
A Dynamic Analysis of S&P 500, FTSE 100 and EURO STOXX 50 Indices Under Different Exchange Rates
2017
The persistence analysis of short- and long-term interaction and causality in the international financial markets is a key issue for policy makers and portfolio investors. This paper assesses the dynamic evolution of short-term correlation, long-term cointegration and Error Correction Model (hereafter referred to as ECM)-based long-term Granger causality between each pair of US, UK, and Eurozone stock markets over the period of 1980--2015 using the rolling-window technique. A comparative analysis of pairwise dynamic integration and causality of stock markets, measured in common and domestic currency terms, is conducted to evaluate comprehensively how exchange rate fluctuations affect the ti…
Comparing the Impact of the Net Income Versus the Comprehensive Income Over the Share Price for Companies Listed on the Bucharest Stock Exchange
2020
Abstract As a consequence of adopting the IFRS in Romania, starting with 2012, for companies whose securities are admitted for trading on a regulated market, financial reporting demarches include ascertaining the comprehensive income in addition to the net income. The present paper aims at investigating how the share price evolves considering the level of the comprehensive income as compared to the reported net income, in a multiannual empirical study implying panel data analysis through Pooled OLS, Fixed Effects and Random Effects models processed through EViews. Furthermore, the informational and decisional utility of the two main forms of disclosed accounting results (the net income and …
Romanian Equity Investments and Currency Risk: A Euro-Based Perspective
2021
Abstract This paper assesses the benefits and risks of international investments made on the Romanian stock market, from the perspective of euro-based investors. We investigate the contribution of exchange rate volatility to the total risk of these investments over a period of nine years, between January 2011 and December 2019, by using monthly values for the exchange rate between the Romanian leu and Euro and monthly values of the Romanian stock index. Our findings indicate that, on average, Romanian leu depreciated against euro, causing currency losses for the euro-based investor, counterbalanced by the Romanian index mean return, higher than euro countries index mean return during the pe…
A Framework to Measure Intellectual Capital
2016
New technologies have changed the structure of companies shifting the focus of creating value from material resources to intangibles. The competitive advantage is increasingly reliant on the presence of specific intangibles such as knowledge, experience, communication skills that are the main source of competitive advantage. Among the intangibles based on knowledge, intellectual capital certainly occupies a prominent place. In recent years the increasing complexity that characterized the business management influenced companies to adopt new models of reporting and accounting, taking into account issues and intangible factors not considered so far with the right attention. The objective of t…
An analysis of recent research on venture capital networks
2019
Purpose – this paper examines recent trends in venture capital network research. Network analysis is a useful approach for analyzing inter-organizational networks, especially for venture capitalists, which are characterized by plenty of connections. Although important steps ahead have been made, several research questions are still unanswered. Research methodology – this brief review analyses deeply three papers which are representative of the novel scientific literature in this field. Scrutinizing these works, I identify their points of strength and weaknesses, in order to understand how to pave the way for further research. Findings – this paper shows that the study of network weak ties a…
Sustainable Growth Rate: An Analysis Regarding the Most Traded Companies on the Bucharest Stock Exchange
2018
The concept of sustainable growth rate was originally developed by Robert C. Higgins. In the case of companies with given stable financial policies, it is considered to be the link between growth-return rate combinations that gives a balanced growth line. This indicates the possibilities for a company to grow without generating deficits or cash surpluses. Increased sales require more assets, which can be financed by new debt, external equity, and internal equity through retained earnings. The sustainable growth rate is the maximum rate at which company sales can increase without decreasing its financial resources. The aim of this paper is to determine if the last year most traded companies …
ICT Barriers and Critical Success Factors in Developing Countries
2013
Since the early 1990s, Information and Communication Technology (ICT) has been perceived as a catalyst for development. However, the UNICEF State of the World’s Children Report 2011 acknowledges that the poor in many developing countries remain largely excluded from ICT and its benefits. This paper aims to address three issues. Firstly, identify ICT barriers in the literature from 2000 to 2011. Secondly, identify ICT barriers through empirical findings and thirdly, categorize these barriers into critical success factors. These aims are achieved by comparing the findings in the literature to our recent empirical results. Two methodologies are used in this study, namely, a systematic literatu…