Search results for "count"
showing 10 items of 5058 documents
The Challenges of Reforming the International Monetary System in the Post COVID-19 World
2020
Abstract The paper analyzes if the international monetary system calls for reform and whether China and the renminbi will play a decisive role in the post COVID-19 world. It also evaluates the main scenarios and trends that is being discussed since the global crisis – selecting the relevant authors, journals, institutions and opinions – examines present conditions and tries to extrapolate into future trends. Opting for a nontechnical approach, the article could be a good insight into the international monetary system, for academics, non-experts and policy makers. The paper concludes that if the 2008 crisis has induced the growth of the China role in the international monetary governance 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…
The Impact of Intellectual Capital on the SMEs Performance: A Study of the Romanian Central Region SMEs
2021
Abstract The 21st century is the century of change and maybe one of the most important changes in the organizations’ life is the transition from focusing on the development of the tangible assets to the development of the intangible assets and the interest for attracting human resources capable to generate performance. The survival of many companies depends on their willingness and capacity to adapt to such changes. (Abdulaali, 2018) In this dynamic and complex economic system, the intangible assets of organizations become primary, being decisive for the organizations’ performance. In the new economic competition, intangible assets provide a sustainable competitive advantage, intellectual c…
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…
An institutional perspective on corruption in transition economies
2017
Submitted version (preprint). This is the pre-peer reviewed version of the following article: Alon, A. & Hageman, A. (2017). An institutional perspective on corruption in transition economies. Corporate governance: An International Review, 25(3), 155-166, which has been published in final form at https://doi.org/10.1111/corg.12199. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Use of Self-Archived Versions. Manuscript Type: Empirical Research Question/Issue: Companies operating in transition economies encounter a broad range of potential challenges. In the area of tax, firms make direct tax payments but may also encounter unofficial t…
Revolving doors: are they valued in the Spanish stock market?
2016
Purpose The purpose of this paper is to examine the effect of political connections in the value of companies listed on the Spanish stock market. Design/methodology/approach The authors study two issues on this topic: the impact on the company value of the appointment as director of an ex-politician through an event study; and the long run stock market performance of companies with political connections. The authors employ a sample of listed firms in the Spanish stock market for which the authors collected data about their political connections. The authors perform the study during a wide period (1996-2011), comprising four legislatures. Findings The results show that from the market persp…
COVID-19 Crisis - A Test for European Union’s Solidarity
2020
Abstract The crises the European Union has gone through over time have called into question the Union’s legitimacy and efficiency. The 2008-2009 financial crisis, the European debt crisis, the migration crisis and Brexit, have all tested the solidarity between member states. The COVID-19 pandemic is without a doubt the most drastic crisis in the EU’s history, with very severe socioeconomic consequences. The EU leaders were strongly criticized for not reacting quickly and efficiently enough to mitigate the impact of the virus, reduce suffering, and ward off the economic crisis. In this context, the questions that arise are: Is the Union a modern-day Titanic? Will it sink or it will sustain i…
Differences and similaritites between corporate governance principles in Islamic banks and Conventional banks
2017
Abstract The purpose of this paper is to present the some differences and similarities between corporate governance principles in Islamic banks and conventional banks by paradigmatic diversification. Since Corporate governance in Islamic banks is a social phenomenon in Islamic societies, the paper uses social theory paradigms (functionalist, interpretive, radical humanist and radical structuralist) to compare between corporate governance in Islamic banks and conventional banks. This paper demonstrates that mainstream corporate corporate governance theories are not a law of nature but a social construct.
Unveiling the Role of Multiple blockholders: Evidence from Closely Held Firms.
2019
Research Question/Issue. This paper disentangles how the modes of ownership distribution among multiple blockholders and their heterogeneity shape principal–principal conflicts and, in turn, affect firm performance. The paper offers empirical evidence from a panel of Italian closely held firms over the period 2009–2014. Research Findings/Insights. We explore the principal–principal conflicts among blockholders across two distinct control structures. When a single blockholder controls the firm, principal–principal conflicts are shaped by the trade‐off between the alignment effect and the monitoring effect. In this scenario, we find that the relationship between the two largest blockholders' …
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…