Search results for: financial problems
8663 Financial Problems Met in the Tourism Sector in Turkey: A Survey on the Tourism Businesses
Authors: Raif Parlakkaya, Huseyin Cetin, Halil Akmese, Mesut Murat Adabali
Abstract:
As the economies of other countries in the Mediterranean Basin, the tourism sector in our country has a high denominator in economics. Tourism businesses, which are building blocks of tourism, sector faces with a variety of problems during their activities. These problems faced make business efficiency and competition conditions of the businesses difficult. Most of the problems faced by the tourism businesses and the information of consumers about consumers’ rights were used in this study, which is conducted to determine the problems of tourism businesses in the Central Anatolia Region. It is aimed to contribute the awareness of staff and executives working at tourism sector and to attract attention of businesses active concurrently with tourism sector and legislators.Keywords: financial problems, the problems of tourism businesses, tourism businesses, tourism sector in Turkey
Procedia PDF Downloads 4818662 Analysis of the Reasons behind the Deteriorated Standing of Engineering Companies during the Financial Crisis
Authors: Levan Sabauri
Abstract:
In this paper, we discuss the deteriorated standing of engineering companies, some of the reasons behind it and the problems facing engineering enterprises during the financial crisis. We show the part that financial analysis plays in the detection of the main factors affecting the standing of a company, classify internal problems and the reasons influencing efficiency thereof. The publication contains the analysis of municipal engineering companies in post-Soviet transitional economies. In the wake of the 2008 world financial crisis the issue became even more poignant. It should be said though that even before the problem had been no less acute for some post-Soviet states caught up in a lengthy transitional period. The paper highlights shortcomings in the management of transportation companies, with new, more appropriate methods suggested. In analyzing the financial stability of a company, three elements need to be considered: current assets, investment policy and structural management of the funding sources leveraging the stability, should be focused on. Inappropriate management of the three may create certain financial problems, with timely and accurate detection thereof being an issue in terms of improved standing of an enterprise. In this connection, the publication contains a diagram reflecting the reasons behind the deteriorated financial standing of a company, as well as a flow chart thereof. The main reasons behind low profitability are also discussed.Keywords: efficiency, financial management, financial analysis funding structure, financial sustainability, investment policy, profitability, solvency, working capital
Procedia PDF Downloads 2988661 An Investigation into Fraud Detection in Financial Reporting Using Sugeno Fuzzy Classification
Authors: Mohammad Sarchami, Mohsen Zeinalkhani
Abstract:
Always, financial reporting system faces some problems to win public ear. The increase in the number of fraud and representation, often combined with the bankruptcy of large companies, has raised concerns about the quality of financial statements. So, investors, legislators, managers, and auditors have focused on significant fraud detection or prevention in financial statements. This article aims to investigate the Sugeno fuzzy classification to consider fraud detection in financial reporting of accepted firms by Tehran stock exchange. The hypothesis is: Sugeno fuzzy classification may detect fraud in financial reporting by financial ratio. Hypothesis was tested using Matlab software. Accuracy average was 81/80 in Sugeno fuzzy classification; so the hypothesis was confirmed.Keywords: fraud, financial reporting, Sugeno fuzzy classification, firm
Procedia PDF Downloads 2438660 Financial Service of Financial Institution for SME in Thailand
Authors: Charawee Butbumrung
Abstract:
This research aim to study the financial service of the Thailand financial Institution, second is to identify "best practices" offered by four financial institutions, namely, Kasikornthai Bank, Bangkok Bank, Siam Commercial Bank, and Thanachart Bank. In-depth interviews with managers of financial institution and borrowers reveal best practices from each financial institution. Close monitoring of and a close relationship with borrowers appear to be important for early detection of any problem. Another aspect that may be important is building up loyalty and developing reliability among members. A close and informal relationship with borrowers may also help in monitoring and early detection of problems that may arise in non-repayment of loans. Other factors that may be considered important to the success of a financial service scheme are cooperation and coordination among various agencies that provide additional support to borrowers. Indirectly, these support systems contribute to the success of a SME in Thailand.Keywords: best practices, financial service, financial institution, SME in Thailand
Procedia PDF Downloads 2848659 Problems Occurring in the Process of Audit by Taking into Consideration their Theoretic Aspects against the Background of Reforms Conducted in a Country: The Example of Georgia
Authors: Levan Sabauri
Abstract:
The purpose of this article is an examination of the meaning of theoretic aspects of audit in the context of solving of specific problems of the audit. The audit’s aim is the estimation of financial statements by the auditor, i.e. if they are prepared according to the basic requirements of current financial statements. By examination of concrete examples, we can clearly see problems created in an audit and in often cases, those contradictions which can be caused by incompliance of matters regulated by legislation and by reality. An important part of this work is the analysis of reform in the direction of business accounting, statements and audit in Georgia and its comparison with EU countries. In the article, attention is concentrated on the analysis of specific problems of auditing practice and ways of their solving by taking into consideration theoretical aspects of the audit are proposed.Keywords: audit, auditor, auditors’ ethic code, auditor’s risk, financial statement, objectivity
Procedia PDF Downloads 3538658 Collaboration-Based Islamic Financial Services: Case Study of Islamic Fintech in Indonesia
Authors: Erika Takidah, Salina Kassim
Abstract:
Digital transformation has accelerated in the new millennium. It is reshaping the financial services industry from a traditional system to financial technology. Moreover, the number of financial inclusion rates in Indonesia is less than 60%. An innovative model needed to elucidate this national problem. On the other hand, the Islamic financial service industry and financial technology grow fast as a new aspire in economic development. An Islamic bank, takaful, Islamic microfinance, Islamic financial technology and Islamic social finance institution could collaborate to intensify the financial inclusion number in Indonesia. The primary motive of this paper is to examine the strategy of collaboration-based Islamic financial services to enhance financial inclusion in Indonesia, particularly facing the digital era. The fundamental findings for the main problems are the foundations and key ecosystems aspect involved in the development of collaboration-based Islamic financial services. By using the Interpretive Structural Model (ISM) approach, the core problems faced in the development of the models have lacked policy instruments guarding the collaboration-based Islamic financial services with fintech work process and availability of human resources for fintech. The core strategies or foundations that are needed in the framework of collaboration-based Islamic financial services are the ability to manage and analyze data in the big data era. For the aspects of the Ecosystem or actors involved in the development of this model, the important actor is government or regulator, educational institutions, and also existing industries (Islamic financial services). The outcome of the study designates that strategy collaboration of Islamic financial services institution supported by robust technology, a legal and regulatory commitment of the regulators and policymakers of the Islamic financial institutions, extensive public awareness of financial inclusion in Indonesia. The study limited itself to realize financial inclusion, particularly in Islamic finance development in Indonesia. The study will have an inference for the concerned professional bodies, regulators, policymakers, stakeholders, and practitioners of Islamic financial service institutions.Keywords: collaboration, financial inclusion, Islamic financial services, Islamic fintech
Procedia PDF Downloads 1348657 Financial Literacy in Greek High-School Students
Authors: Vasiliki A. Tzora, Nikolaos D. Philippas
Abstract:
The paper measures the financial literacy of youth in Greece derived from the examined aspects of financial knowledge, behaviours, and attitudes that high school students performed. The findings reveal that less than half of participant high school students have an acceptable level of financial literacy. Also, students who are in the top of their class cohort exhibit higher levels of financial literacy. We also find that the father’s education level has a significant effect on financial literacy. Students who keep records of their income and expenses are likely to show better levels of financial literacy than students who do not. Students’ perception/estimation of their parents’ income changes is also related to their levels of financial literacy. We conclude that financial education initiatives should be embedded in schools in order to embrace the young generation.Keywords: financial literacy, financial knowledge, financial behaviour, financial attitude, financial wellbeing, 15-year-old students
Procedia PDF Downloads 1338656 Share Pledging and Financial Constraints in China
Authors: Zijian Cheng, Frank Liu, Yupu Sun
Abstract:
The relationship between the intensity of share pledging activities and the level of financial constraint in publicly listed firms in China is examined in this paper. Empirical results show that the high financial constraint level may motivate insiders to use share pledging as an alternative funding source and an expropriation mechanism. Share collateralization can cause a subsequently more constrained financing condition. Evidence is found that share pledging made by the controlling shareholder is likely to mitigate financial constraints in the following year. Research findings are robust to alternative measures and an instrumental variable for dealing with endogeneity problems.Keywords: share pledge, financial constraint, controlling shareholder, dividend policy
Procedia PDF Downloads 1578655 Financial Literacy of Students of Finance
Authors: Barbora Chmelíková
Abstract:
Financial literacy is a widely discussed topic on the national and international level by governments, organizations and academia. For this reason this study analyses financial knowledge, financial behavior and financial attitudes of students of finance. The aim of the paper is to determine whether the financial literacy of university students studying finance differs from the level of financial literacy in selected OECD countries. The research was conducted at Masaryk University in the Czech Republic. The empirical study comprises questions related to several aspects of financial literacy, as well as socio-demographic data enabling more thorough analysis. The results indicate that improvement in financial literacy of university students is still required, even though their major is finance related.Keywords: financial literacy, financial behavior, personal finance management, university students
Procedia PDF Downloads 3778654 Financial Products Held by University Students: An Empirical Study from the Czech Republic
Authors: Barbora Chmelikova
Abstract:
Current financial markets offer a wide range of financial products to the consumers. However, access to the financial products is not always provided or guaranteed, particularly in less developed countries. For this reason, financial inclusion is an important component in the modern society. This paper investigates financial inclusion and what financial products are held by university students majoring in finance fields. The OECD methodology was used to examine the awareness and use of financial products. The study was conducted via online questionnaire at Masaryk University in the Czech Republic among finance students. The results show that the students use current and savings accounts more than any other financial products.Keywords: financial inclusion, financial products, personal finance, university students
Procedia PDF Downloads 3698653 Audit Committee Financial Expertise and Financial Reporting Timeliness in Emerging Market: The Role of Audit Committee Chair
Authors: Saeed Rabea Baatwah, Zalailah Salleh, Norsiah Ahmad
Abstract:
This study examines whether audit committee chair with financial expertise enhances the audit committee role in financial reporting quality in emerging market. We investigate this influence by employing the direct effect and moderating effect of audit committee chair with financial expertise on financial reporting timeliness. By using Omani data and the panel data method for two proxies for financial reporting timeliness, we find that audit committee chair with financial expertise enhances the timeliness of financial reporting through making the disclosure of annual reports timely. Further, we report evidence showing that both accounting and non-accounting financial expertise on the audit committee have a positive and significant influence on the timeliness of financial reporting. We also document that the association between financial expertise and the timeliness of financial reporting is more pronounced when the chair of the audit committee has financial expertise. This study is among the first to comprehensively prove that audit committee chair with financial expertise contributes to the quality of financial reporting in emerging market.Keywords: audit committee, chair with financial expertise, timeliness of financial reporting, Oman
Procedia PDF Downloads 2638652 A Study of Financial Literacy among Undergraduates
Authors: Prasansha Kumari
Abstract:
Financial Literacy is the possession of knowledge and understanding of financial matters. Financial Literacy often entails the knowledge of properly making decisions pertaining to certain personal financial areas like real estate, insurance investing, and savings. This paper intends to identify and analyze the financial knowledge among university undergraduates by using 200 undergraduates in four faculties of University of Kelaniya, Sri Lanka. Collected data will be analyzed by descriptive research method using SPSS package. Expected outcomes are considerable percentage of undergraduates have basic knowledge on financial matters while it has a law percentage for advanced financial literacy among undergraduates. Students from faculty of Commerce and Management and Science have good understanding about financial matters than undergraduates in other two facultiesKeywords: advanced finance, undergraduates, financial literacy, savings
Procedia PDF Downloads 3368651 Less Calculations and More Stories: Improving Financial Education for Young Women
Authors: Laura de Zwaan, Tracey West
Abstract:
There is a sustained observable gender gap in financial literacy, with females consistently having lower levels than males. This research explores the knowledge and experiences of high school students in Australia aged 14 to 18 in order to understand how this gap can be improved. Using a predominantly qualitative approach, we find evidence to support impacts on financial literacy from financial socialization and socio-economic environment. We also find evidence that current teaching and assessment approaches to financial literacy may disadvantage female students. We conclude by offering recommendations to improve the way financial literacy education is delivered within the curriculum.Keywords: financial literacy, financial socialization, gender, maths
Procedia PDF Downloads 718650 The Impact of Global Financial Crises and Corporate Financial Crisis (Bankruptcy Risk) on Corporate Tax Evasion: Evidence from Emerging Markets
Authors: Seyed Sajjad Habibi
Abstract:
The aim of this study is to investigate the impact of global financial crises and corporate financial crisis on tax evasion of companies listed on the Tehran Stock Exchange. For this purpose, panel data in the periods of financial crisis period (2007 to 2012) and without a financial crisis (2004, 2005, 2006, 2013, 2014, and 2015) was analyzed using multivariate linear regression. The results indicate a significant relationship between the corporate financial crisis (bankruptcy risk) and tax evasion in the global financial crisis period. The results also showed a significant relationship between the corporate bankruptcy risk and tax evasion in the period with no global financial crisis. A significant difference was found between the bankruptcy risk and tax evasion in the period of the global financial crisis and that with no financial crisis so that tax evasion increased in the financial crisis period.Keywords: global financial crisis, corporate financial crisis, bankruptcy risk, tax evasion risk, emerging markets
Procedia PDF Downloads 2708649 Forecast Financial Bubbles: Multidimensional Phenomenon
Authors: Zouari Ezzeddine, Ghraieb Ikram
Abstract:
From the results of the academic literature which evokes the limitations of previous studies, this article shows the reasons for multidimensionality Prediction of financial bubbles. A new framework for modeling study predicting financial bubbles by linking a set of variable presented on several dimensions dictating its multidimensional character. It takes into account the preferences of financial actors. A multicriteria anticipation of the appearance of bubbles in international financial markets helps to fight against a possible crisis.Keywords: classical measures, predictions, financial bubbles, multidimensional, artificial neural networks
Procedia PDF Downloads 5698648 Financial Globalization, IFRS and Economic Growth: A Study on Advanced and Developing Countries
Authors: Bilal Arshad
Abstract:
This study aims to analyse the impact of financial globalisation on economic growth, specifically focusing on how it is influenced by the implementation of International Financial Reporting Standards (IFRS). In addition, we analyze the influence of IFRS and a country's level of financial development on this relationship. Available literature suggested that this study expands upon previous research on financial globalization, financial development, and economic growth by examining the impact of International Financial Reporting Standards (IFRS) on advanced and developed countries from 1996 to 2019. The application of the Generalised Method of Moments estimator reveals that financial globalisation in nations that have adopted the International Financial Reporting Standards (IFRS) has a substantial and favourable impact on economic growth. The impact of financial globalisation on economic growth is influenced by the level of financial development.Keywords: financial globalization, financial development, IFRS, economic growth
Procedia PDF Downloads 158647 An Empirical Examination of the Determinant of the Financial CEOs’ Compensation for the Post-Financial Crisis Period
Authors: Eunsup Daniel Shim, Jooh Lee
Abstract:
The US financial crisis of 2008 and subsequent Global Financial Crisis were considered by many economists the worst financial crisis since the Great Depression of the 1930s. As a results, Dodd-Frank Act has passed and aims '(1) to promote the financial stability of the United States by improving accountability and transparency in the financial system, to end "too big to fail", (2) to protect the American taxpayer by ending bailouts, (3) to protect consumers from abusive financial services practices, and for other purposes.' The enactment of Dodd-Frank Act, in part, intended to significantly influence accountability on executive compensation especially for the financial institutions. This paper empirically investigates the changes in Financial CEOs’ compensation since the Financial Crisis of 2008. Our findings show that in the post- Financial Crisis period financial leverage is significant factor influencing the CEOs’ total compensation. In addition market based performance such as stock price and market-to-book ratio shows significant positive relationship with CEO compensation. This change can be interpreted an attempt to reduce opportunistic behavior of top executives after the financial crisis and the enactment of the Dodd-Frank Act.Keywords: financial CEO compensation, firm performance, financial crisis of 2008, dodd-frank act
Procedia PDF Downloads 5148646 Revisited: Financial Literacy and How University Students Fare
Authors: Zaiton Osman, Phang Ing, Azaze Azizi Abd Adis, Izyanti Awg Razli, Mohd Rizwan Abd Majid, Rosle Mohidin
Abstract:
This study is conducted to investigate the level of financial literacy among students taking Financial Management and Banking in Universiti Malaysia Sabah, Malaysia. Students are asked to answer basic financial literacy questions in their first class before study commence and the similar questions were given in their final week of study (after 14 weeks of study duration). The comparison on their level of financial literacy will be examined. This study is expected to yields the following findings; firstly, comparison of the level of financial literacy 'before and after' courses in finance being introduced can be revealed. Secondly, it will provide suggestion on improving the standard of teaching and learning in financial management and banking courses and lastly it will help in identifying financial courses that are important in improving the level of financial literacy among students in Malaysia.Keywords: financial literacy, university students, personal financial planning, business and management engineering
Procedia PDF Downloads 7178645 The Promotion of AI Technology to Financial Development in China
Authors: Li Yong
Abstract:
Using the data of 135 financial institutions in China from 2018 to 2022, this paper deeply analyzes the underlying theoretical mechanism of artificial intelligence (AI) technology promoting financial development and examines the impact of AI technology on the digital transformation performance of financial enterprises. It is found that the level of AI technology has a significant positive impact on the development of finance. Compared with the impact on the expansion of financial scale, AI technology plays a greater role in improving the performance of financial institutions, reflecting the trend characteristics of the current AI technology to promote the evolution of financial structure. By investigating the intermediary transmission effects, we found that AI technology plays a positive role in promoting the performance of financial institutions by reducing operating costs and improving customer satisfaction, but its function in innovating financial products and mitigating financial risks is relatively limited. In addition, the promotion of AI technology in financial development has significant heterogeneity in terms of the type, scale, and attributes of financial institutions.Keywords: artificial intelligence technology, financial development, China, heterogeneity
Procedia PDF Downloads 568644 Product Development in Company
Authors: Giorgi Methodishvili, Iuliia Methodishvili
Abstract:
In this paper product development algorithm is used to determine the optimal management of financial resources in company. Aspects of financial management considered include put initial investment, examine all possible ways to solve the problem and the optimal rotation length of profit. The software of given problems is based using greedy algorithm. The obtained model and program maintenance enable us to define the optimal version of management of proper financial flows by using visual diagram on each level of investment.Keywords: management, software, optimal, greedy algorithm, graph-diagram
Procedia PDF Downloads 498643 The Role of Financial Literacy and Personal Non-Cognitive Attributes in Household Financial Fragility
Authors: Ivana Bulog, Ana Rimac Smiljanić, Sandra Pepur
Abstract:
The financial fragility of households has received increased attention following the recent health crisis, which has created uncertainty and caused increased levels of stress and consequently impaired individual and family well-being. Job losses and/or reduced wages and insecurity increased the number of people that were unable to meet unexpected expenses, which, in many cases, led to increased household debt levels. This presents a threat to the stability of the financial system and the whole economy; therefore, reducing financial fragility and improving financial literacy present challenges for academicians, practitioners, and policymakers. Concerning financial fragility, significant research attention has been devoted to financial knowledge and financial literacy. However, apart from specific knowledge, personal characteristics are of great importance in making financial decisions in the household. Self-efficacy is one of the personal non-cognitive attributes that is a valuable framework for understanding how household financial decisions are made. Thus, this research proposes that individual levels of financial literacy and self-efficacy are related to the indebtedness and financial instability of the household. The primary data were collected using a structured, self-administered online questionnaire, and a snowball sampling method was applied to reach the participants. Preliminary results confirm our assumptions on the influence of financial literacy and self-efficacy on household financial stability.Keywords: financial literacy, self-efficacy, household financial fragility, well-being
Procedia PDF Downloads 828642 Financial Decision-Making among Finance Students: An Empirical Study from the Czech Republic
Authors: Barbora Chmelíková
Abstract:
Making sound financial decisions is an essential skill which can have an impact on life of each consumer of financial products. The aim of this paper is to examine decision-making concerning financial matters and personal finance. The selected target group was university students majoring in finance related fields. The study was conducted in the Czech Republic at Masaryk University in 2015. In order to analyze financial decision-making questions related to basic finance decisions were developed to address the research objective. The results of the study suggest gaps in detecting best solutions to given financial decision-making questions among finance students. The analysis results indicate relation between financial decision-making and own experience with holding and using concrete financial products.Keywords: financial decision-making, financial literacy, personal finance, university students
Procedia PDF Downloads 3198641 Effects of Financial and Non-Financial Reports On - Firms Performance
Authors: Vithaya Intaraphimol
Abstract:
This research investigates the effect of financial accounting information and non-financial accounting reports on corporate credibility via strength of board of directors and market environment volatility as moderating effect. Data in this research is collected by questionnaire form non-financial companies listed on the Stock Exchange of Thailand. Multiple regression statistic technique is chosen for analyzing the data. The empirical results find that firms with greater financial accounting information reports and non-financial accounting information reports will gain greater corporate credibility. Therefore, the corporate reporting has the value for the firms. Moreover, the strength of board of directors will positively moderate the financial and non-financial accounting information reports and corporate credibility relationship. Whereas, market environment volatility will negatively moderate the financial and nonfinancial accounting information reports and corporate credibility relationship.Keywords: corporate credibility, financial and non-financial reports, firms performance, economics
Procedia PDF Downloads 4528640 Burnout Syndrome: A Study of Financial Professionals
Authors: Sara Santos, Maria João Santos
Abstract:
Thisarticleanalyzesthethemeofwork-family conflict and professional stress among financial workers and their relationships with burnout syndrome. This also studieshowthesocio demographicandworkingcharacteristicsoftheseprofessionalsinfluencetheirlevelsofburnout. Weadopted a mixedmethodbasedontheanalysisof 255 surveysand 24 interviewscarriedoutwith financial sector professionals. Thekeyresultsincludeverificationofhowtheseprofessionalsregister a positive relationshipbetweenwork-familyconflictandburnoutsyndrome as well as betweenprofessional stress andburnout. Thestudycontributes to a betterunderstandingoftheimpactsthatwork-familyconflictsandprofessional stress haveon financial professionalsandhowtheycontribute to thevariationsprevailingintheirrespectivelevelsofburnout.Keywords: burnout syndrome, financial area, conflict, stres
Procedia PDF Downloads 2058639 Financial Management Performance in Organization Profitability
Authors: Adekunle Olakunle Felix
Abstract:
Research will be based on the financial management importance within organization and its important role in non-economic and economic activities that provide us the useful information about the efficient procurement and utilization of finance in a profitable manner. Due to industrialization, financial management become a vital part of business and it is very important for the business concern that with a good financial management to earn maximum profit.Keywords: management, business, profitability, organization, financial, efficiency
Procedia PDF Downloads 3478638 A Critical Analysis of the Financial Reporting Practices of Islamic Financial Institutions (IFI)
Authors: Riaz Dhai
Abstract:
The inherent differences between Islamic and conventional finance have given rise to a debate on whether conventional accounting standards provide sufficient disclosure in the annual financial statements of Islamic financial institutions (IFI). This issue has become more pronounced due to the rapid growth of IFIs over the last decade. This paper seeks to collate the literature surrounding this debate as well as summarise the key macro and micro level financial reporting differences between conventional and Islamic accounting. Based on these findings we propose some important areas of future research in this emerging field.Keywords: Islamic financial institutions, financial reporting, critical analysis, conventional accounting standards
Procedia PDF Downloads 4368637 A Network Approach to Analyzing Financial Markets
Authors: Yusuf Seedat
Abstract:
The necessity to understand global financial markets has increased following the unfortunate spread of the recent financial crisis around the world. Financial markets are considered to be complex systems consisting of highly volatile move-ments whose indexes fluctuate without any clear pattern. Analytic methods of stock prices have been proposed in which financial markets are modeled using common network analysis tools and methods. It has been found that two key components of social network analysis are relevant to modeling financial markets, allowing us to forecast accurate predictions of stock prices within the financial market. Financial markets have a number of interacting components, leading to complex behavioral patterns. This paper describes a social network approach to analyzing financial markets as a viable approach to studying the way complex stock markets function. We also look at how social network analysis techniques and metrics are used to gauge an understanding of the evolution of financial markets as well as how community detection can be used to qualify and quantify in-fluence within a network.Keywords: network analysis, social networks, financial markets, stocks, nodes, edges, complex networks
Procedia PDF Downloads 1868636 Corporate Governance in India: A Critical Analysis with Respect to Financial Market Crisis
Authors: Sonal Purohit, Animesh Dubey
Abstract:
Corporate governance deals with the entire network of formal and informal relationship with the management of the company and company’s stakeholders including employees, customers, creditors, local communities, and society in general. The recent financial crisis was truly a global crisis in its nature and effects. The Indian financial markets were not immune to this global financial crisis. It is believed that corporate governance also had a major role to play in staggering the effect of this crisis. The objective of this paper is to examine the failure of prevailing corporate governance practice in India during financial crisis. Lack of appropriate implementation of the corporate government norms was a reason behind the phenomenon of money being pulled-out by FIIs, which constitute major investors and influencers of the Indian financial market.Keywords: corporate governance, FII, financial market, financial crisis
Procedia PDF Downloads 4708635 Detecting Model Financial Statement Fraud by Auditor Industry Specialization with Fraud Triangle Analysis
Authors: Reskino Resky
Abstract:
This research purposes to create a model to detecting financial statement fraud. This research examines the variable of fraud triangle and auditor industry specialization with financial statement fraud. This research used sample of company which is listed in Indonesian Stock Exchange that have sanctions and cases by Financial Services Authority in 2011-2013. The number of company that were became in this research were 30 fraud company and 30 non-fraud company. The method of determining the sample is by using purposive sampling method with judgement sampling, while the data processing methods used by researcher are mann-whitney u and discriminants analysis. This research have two from five variable that can be process with discriminant analysis. The result shows the financial targets can be detect financial statement fraud, while financial stability can’t be detect financial statement fraud.Keywords: fraud triangle analysis, financial targets, financial stability, auditor industry specialization, financial statement fraud
Procedia PDF Downloads 4518634 The Impact of Household Income on Students' Financial Literacy
Authors: Dorjana Nano
Abstract:
Financial literacy has become on focus of many research studies. Family household is found to influence students’ financial literacy. The purpose of this study is to explore whether financial literacy of Albanian students is associated with their family household. The main objectives of this research are: i) firstly, to evaluate how financial literate are Albanian university students; ii) secondly, to examine whether the financial literacy differs based on the level of students family income; and iii) finally, to draw some conclusions and recommendations in order to improve student’s financial literacy. An instrument, comprised of personal finance and personal characteristics is administered to 637 students in Albania. The constituency of the survey is tested based on the dimension reduction and factor analyzing techniques. The One Way Welch ANOVA and multiple comparison techniques are utilized to analyze the data. The results indicate that student’s financial literacy is influenced by their family income.Keywords: financial literacy, household income, smart decisions, university students
Procedia PDF Downloads 265