Search results for "Financial Crisis"
showing 10 items of 200 documents
Investor Protection in Times of Crisis of Financial Institutions in Spain in Light of EU Regulations
2016
The objective of this paper is to explore selected strategies of countering the financial crisis in Spain, with a special focus on the issue of investor protection. I will attempt to highlight good solutions and the most significant mistakes made in the struggle to tackle the crisis, based on comments provided by experts in the field - both scholars and practitioners. Owing to the great complexity of the subject, in this work I focus on aspects connected with the restructuring of Spanish banking institutions and with the deposit guarantee system, and I discuss the efforts to overcome the financial crisis in Spain within the context of new challenges to public law (especially in light of the…
A Study of Seasonality on the SAFEX Wheat Market
2015
This paper examines seasonality in returns and volatilities in the South African Futures Exchange (SAFEX) wheat futures contract in order to seek market inefficiencies that can be exploited for financial gain. Non-parametric and parametric-based techniques are used to study sample regimes before and after the peak in wheat prices that occurred during the global economic crisis in 2008. Findings of the study indicate that wheat returns on Mondays and Kansas City Board of Trade (KCBT) holidays are significant and positive while Tuesday returns are negative and significant. These seasonal patterns occur largely in the second sample of the wheat dataset. Furthermore, it is observed that volatil…
COVID-19 Drives Consumer Behaviour and Agro-Food Markets towards Healthier and More Sustainable Patterns
2020
This study examines the extant state of research into our understanding of the impact of the coronavirus pandemic in its early stages on food-purchasing behaviour. As such, it includes a summary and categorisation of the findings, extending to consumption preferences worldwide. After the indiscriminate stockpiling of food, which was witnessed in many countries following the implementation of the lockdown, the impact of COVID-19 (COronaVIrus Disease-2019) on consumer habits has inversely varied in function of personal attitudes, individual and household experiences, and characteristics. Specific contexts, and the financial, economic, and logistic nature of these contexts, have also been foun…
The changing structure of banking firms and industry: an analysis through the European banks' balance sheets
2013
This paper analyzes the changing structure of the Italian and European banking firms and industry. The main aim is to identify the fundamental changes of the underlying economics of banking through the analysis of banks’ balance sheets. In this paper, we provide evidence that commercial banks have progressively moved from traditional banking to new forms of financial intermediation. The paper discusses the implications of this changes in terms of business models of banking firms, business operations of banks, structure of the financial system and banking industry. The research points out that the role of traditional bank is in decline. It is changing the fundamentals of banking business. Ba…
Bank Loan Loss Accounting and Its Contracting Effects: The New Expected Loss Models
2019
As a result of the recent financial crisis, several key institutions urged the IASB and the FASB to re-evaluate their models for loan loss accounting and use more forward-looking information. The paper examines the principal features of the new expected loss approach, taking into account the tensions between accounting and prudential objectives with respect to credit losses. We discuss the rationales for the change introduced by IFRS 9 and explore the differences between the IASB and the FASB models. Based on the notions of accounting conservatism and earnings management, we discuss the potential consequences of the new models. While both the FASB and the IASB model are more conservative th…
Legal questions on financial market abuse
2015
Purpose – The purpose of this study is to underline the impact that globalization of financial markets has on national punishment policies. The US financial crisis has strongly affected consumers’ lives, but the focus of this research is on the national provisions against the illegal and unfair behaviour of economic actors, with special regard to a phenomenon that took place abroad, but whose effects came to light in many different countries. Design/methodology/approach – Different methodological approaches, both deductive and inductive, are combined in the present paper, together with comparative and philosophical insights on national Court decisions and scholar writings. Findings – As Eu…
Current Account Adjustment and Retained Earnings
2018
This paper develops a formal strategy to calculate current accounts with retained earnings (RE) on equity investment and analyzes their adjustment during the global financial crisis. RE are the part of companies' profits which are reinvested and not distributed to shareholders as dividends. International statistical standards treat RE on foreign direct investment and RE on portfolio investment differently: while the former enter the current and financial account, the latter do not. We show that this differential treatment strongly affects current accounts of several advanced economies, frequently referred to as financial centers, with large positions in equity (portfolio) investment. Our em…
Monetary policy and the exchange rate during the Asian crisis: identification through heteroscedasticity
2005
Abstract This paper examines whether a monetary policy tightening (i.e., an increase in the domestic interest rate) was successful in defending the exchange rate from speculative pressures during the Asian financial crisis. We estimate a bivariate VECM for four Asian countries, and improve upon existing studies in two important ways. First, by using a long data span we are able to compare the effects of an interest rate rise on the nominal exchange rate during tranquil and turbulent periods. Second, we take into account the endogeneity of interest rates and identify the system by exploiting the heteroscedasticity properties of the relevant time series, following Rigobon [Identification thro…
Longitudinal approach to publicly held and privately owned family businesses : a financial analysis
2013
The main aim of this thesis is to examine the consequences of the 2007 financial crisis for family and non-family businesses and identify and understand what makes businesses sustainable and profitable even during bad macro-economic conditions. This financial crisis was one of the most significant since the Wall Street Crash of 1929. I will analyze selected companies’ financial statements before, during, and after 2007 financial crisis. My goal is to outline the advantages and disadvantages of family and non-family companies, and moreover, to see which ownership structure weathered the financial crisis better. The analysis in this paper is based on two companies’ financial statements compar…
The real effect of financial crises in the European transition economies1
2010
The aim of this work is to assess the impact of financial crises on output for 11 European transition economies (CEECs). The results suggest that financial crises have a significant and permanent effect, lowering long-term output by about 17 percent. The effect is more important in smaller countries, with relative higher dependence on external financing, and in which the banking sector noticed more important financial disequilibria. We also found that fiscal policy measures have been the most efficient tools in dealing with the crises, while the role of monetary policy instruments has been rather blinded. Exchange rate resulted to be more a propagator than a crises absorber, while the IMF c…