Search results for: financial reporting enforcement

Authors: Suriyani Ariffin, Nor Aziah Alias, Khairil Iskandar Othman, Haslinda Yusoff

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An Integrated Cumulative Grade Point Average (iCGPA) is a mechanism and strategy to ensure the curriculum of an academic programme is constructively aligned to the expected learning outcomes and student performance based on the attainment of those learning outcomes that is reported objectively in a spider web. Much effort and time has been spent to develop a viable mechanism and trains academics to utilize the platform for reporting. The question is: How well do learners conceive the idea of their achievement via iCGPA and whether quality learner attributes have been nurtured through the iCGPA mechanism? This paper presents the architecture of an integrated CGPA mechanism purported to address a holistic evaluation from the evaluation of courses learning outcomes to aligned programme learning outcomes attainment. The paper then discusses the students’ understanding of the mechanism and evaluation of their achievement from the generated spider web. A set of questionnaires were distributed to a group of students with iCGPA reporting and frequency analysis was used to compare the perspectives of students on their performance. In addition, the questionnaire also explored how they conceive the idea of an integrated, holistic reporting and how it generates their motivation to improve. The iCGPA group was found to be receptive to what they have achieved throughout their study period. They agreed that the achievement level generated from their spider web allows them to develop intervention and enhance the programme learning outcomes before they graduate.

Keywords: learning outcomes attainment, iCGPA, programme learning outcomes, spider web, iCGPA reporting skills

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Authors: Timiebi Aganaba-Jeanty

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Accurate and transparent monitoring, reporting and verification of Greenhouse Gas (GHG) emissions and removals is a requirement of the United Nations Framework Convention on Climate Change (UNFCCC). Several countries are obligated to prepare and submit an annual national greenhouse gas inventory covering anthropogenic emissions by sources and removals by sinks, subject to a review conducted by an international team of experts. However, the process is not without flaws. The self-reporting varies enormously in thoroughness, frequency and accuracy including inconsistency in the way such reporting occurs. The world’s space agencies are calling for a new generation of satellites that would be precise enough to map greenhouse gas emissions from individual nations. The plan is delicate politically because the global system could verify or cast doubt on emission reports from the member states of the UNFCCC. A level playing field is required and an idea that an international system should be perceived as an instrument to facilitate fairness and equality rather than to spy on or punish. This change of perspective is required to get buy in for an international verification system. The research proposes the viability of a satellite system that provides independent access to data regarding greenhouse gas emissions and the policy and governance implications of its potential use as a monitoring and verification system for the Paris Agreement. It assesses the foundations of the reporting monitoring and verification system as proposed in Paris and analyzes this in light of a proposed satellite system. The use of remote sensing technology has been debated for verification purposes and as evidence in courts but this is not without controversy. Lessons can be learned from its use in this context.

Keywords: greenhouse gas emissions, reporting, monitoring and verification, satellite, UNFCCC

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Authors: Martin Surya Mulyadi, Rosinta Ria Panggabean

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The terms of intellectual capital emerge as the economic activity shift from the agricultural economy to knowledge economy and it will allow corporations to earn competitive advantage to its competitors. Considering its importance, many researches have a focus on how corporations disclose its intellectual capital. This intellectual capital research mainly focuses on developed country with only several researchers conducted this research in developing the country. While there are several intellectual capital researches in developing country, to authors’ best knowledge, there is no intellectual capital reporting research in Indonesia published internationally. This research will focus on two industries that acknowledge having a high reliance on intellectual capital: finance industry and the pharmaceutical industry. Our research found that Indonesian corporations in these industries are aware of the importance of intellectual capital, and variations of this disclosure exist within the industry.

Keywords: Developed country, Indonesia, Intellectual Capital, Intellectual Capital Reporting

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Authors: Layal Mansour

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This paper breaks down Egypt’s financial crisis by constructing a customized financial stress index by including the vulnerable economic indicator “dollarization” as a vulnerable indicator in the credit and exchange sector. The Financial Stress Index for Egypt (FSIE) includes informative vulnerable indicators of the main financial sectors: the banking sector, the equities market, and the foreign exchange market. It is calculated on a monthly basis from 2010 to December 2022, so to report the two recent world’s most devastating financial crises: Covid 19 crisis and Ukraine-Russia War, in addition to the local 2016 and 2022 financial crises. We proceed first by a graphical analysis then by empirical analysis in running under Vector Autoregression (VAR) Model, dynamic causality tests between foreign reserves, dollarization rate, and FSIE. The graphical analysis shows that unexpectedly, Egypt’s economy seems to be immune to internal economic/political instabilities, however it is highly exposed to the foreign and exchange market. Empirical analysis confirms the graphical observations and proves that dollarization, or more precisely debt in foreign currency seems to be the main trigger of Egypt’s current financial crisis.

Keywords: egypt, financial crisis, financial stress index, dollarization, VAR model, causality tests

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Authors: Edmond Jaro Malihan

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This study aimed to develop and propose Project Financial Literacy Information Program (FLIP) for the Schools Division of Quezon to improve the financial management skills of Supreme Student Government (SSG) officers across different school sizes. This employed a descriptive research design covering the participation of 424 selected SSG officers using purposive sampling procedures from the SDO-Quezon. The consultation was held with DepEd officials, budget officers, and financial advisors to validate the design of the self-made questionnaires in which the computed mean was verbally interpreted using the four-point Likert scale. The data gathered were presented and analyzed using weighted arithmetic mean and ANOVA test. Based on the findings, generally, SSG officers in the SDO-Quezon possess high financial management skills in terms of budget preparation, resource mobilization, and auditing and evaluation. The size of schools has no significant difference and does not contribute to the financial management skills of SSG officers, which they apply in implementing their mandated programs, projects, and activities (PPAs). The Project Financial Literacy Information Program (FLIP) was developed considering their general level of financial management skills and the launched PPAs by the organization. The project covered the suggested training program vital in conducting the Virtual Division Training on Financial Management Skills of the SSG officers.

Keywords: financial management skills, SSG officers, school size, financial literacy information program

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Authors: Zineb Abidi, Marc-Arthur Diaye

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There exists a large empirical literature concerning the relationship between corporate social responsibility (CSR) and corporate financial performance. This literature, however, applies mainly to large corporations and/or listed firms. To the best of our knowledge, the question of whether meeting CSR requirements impacts the financial performance of small and medium-sized unlisted SMEs has not so far been analyzed. This paper aims to analyze, for the first time, the effect of CSR on the financial performance of SMEs. Using an original database including 5,257 French SMEs, we show that adopting CSR practices has a positive but weak effect on a firm’s financial performance. To develop this further, we analyzed CSR practices interactions assessing the best combination of CSR components that positively influence SME financial performance. Our results show that French SMEs benefit more from their pro-social behavior when they choose a combination of CSR components best adapted to their individual characteristics.

Keywords: corporate social responsibility, financial performance, unlisted firms, SMEs

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Authors: Vilma Deltuvaitė

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Comparisons of financial development across countries are central to answering many of the questions on factors leading to economic development. For this reason this study analyzes the implications of financial system’s development on country’s economic development. The aim of the article: to analyze the impact of financial system’s development on economic development. The following research methods were used: systemic, logical and comparative analysis of scientific literature, analysis of statistical data, time series model (Autoregressive Distributed Lag (ARDL) Model). The empirical results suggest about positive short and long term effect of stock market development on GDP per capita.

Keywords: banking sector, economic development, financial system’s development, stock market, private bond market

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Authors: Joanna Kufel-Orlowska

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Domestic violence is a social threat to public safety and order. It poses a threat not only to the family members of the perpetrator but also disturbs the functioning of society and even the state. In a situation of danger, an individual either defends himself or/and calls for help by contacting an appropriate institution whose aim is to ensure civil security. Most often, such contact takes place through a telephone conversation, which is aimed at diagnosing the problem and prompt intervention. People in different situations and in different ways, despite the general reporting standards, try to inform about the need for help. The article aims to present the results of research on non-standard forms of reporting domestic violence in the opinion of the Polish society and operators of the Polish emergency number 112 (911). The research was conducted in the form of a survey technique on a sample of 160 operators (purposeful selection) and 300 people living in Poland (random selection). The research was conducted in the form of online surveys. The study found that in Poland: 1. emergency number operators often receive reports of domestic violence although they are not always able to diagnose whether the case is strictly about violence; 2. non-standard reports of domestic violence are received by about 30% of emergency number operators. Non-standard should be understood as reports of violence that deviate from the norm, are unusual, or are reported by a non-victim. 3. The most common forms of reporting violence not directly are: pretending to talk to a friend, calling a cab, making an appointment with a dentist/doctor, calling a store and helping with the selection of goods, asking about the bank's hotline, not speaking (in order for the emergency number operator to hear what is going on). 4. Emergency number operators in Poland are properly trained and are able to recognize the threatening situation of the reporting party and conduct the conversation in a safe manner for the reporting party. On the other hand, Polish people support the ability to report violence in a non-standard way and would do so themselves in the event of a threat to their own life, health, or property, thus expecting the emergency number operator to recognize a report and help us.

Keywords: domestic violence, operator of the emergency number 112 (911), emergency call center, reporting domestic violence

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Authors: Kevin Baxter, Ron Grove, James Pitney, John Harrison, Ozlem Gumus

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The purpose of this research is to determine the mediating effect of effectiveness of the training provided by Northwestern University’s School of Police Staff and Command (SPSC), on the ability of law enforcement mid-level managers to learn transformational and authentic leadership traits. This study will also evaluate the leadership styles, of course, graduates compared to non-attendees using a static group comparison design. The Louisiana State Police pay approximately $40,000 in salary, tuition, housing, and meals for each state police lieutenant attending the 10-week program of the SPSC. This school lists the development of transformational leaders as an increasing element. Additionally, the SPSC curriculum addresses all four components of authentic leadership - self-awareness, transparency, ethical/moral, and balanced processing. Upon return to law enforcement in roles of mid-level management, there are questions as to whether or not students revert to an “autocratic” leadership style. Insufficient evidence exists to support claims for the effectiveness of management training or leadership development. Though it is widely recognized that transformational styles are beneficial to law enforcement, there is little evidence that suggests police leadership styles are changing. Police organizations continue to hold to a more transactional style (i.e., most senior police leaders remain autocrats). Additionally, research in the application of transformational, transactional, and laissez-faire leadership related to police organizations is minimal. The population of the study is law enforcement mid-level managers from various states within the United States who completed leadership training presented by the SPSC. The sample will be composed of 66 active law enforcement mid-level managers (lieutenants and captains) who have graduated from SPSC and 65 active law enforcement mid-level managers (lieutenants and captains) who have not attended SPSC. Participants will answer demographics questions, Multifactor Leadership Questionnaire, Authentic Leadership Questionnaire, and the Kirkpatrick Hybrid Evaluation Survey. Analysis from descriptive statistics, group comparison, one-way MANCOVA, and the Kirkpatrick Evaluation Model survey will be used to determine training effectiveness in the four levels of reaction, learning, behavior, and results. Independent variables are SPSC graduates (two groups: upper and lower) and no-SPSC attendees, and dependent variables are transformational and authentic leadership scores. SPSC graduates are expected to have higher MLQ scores for transformational leadership traits and higher ALQ scores for authentic leadership traits than SPSC non-attendees. We also expect the graduates to rate the efficacy of SPSC leadership training as high. This study will validate (or invalidate) the benefits, costs, and resources required for leadership development from a nationally recognized police leadership program, and it will also help fill the gap in the literature that exists between law enforcement professional development and transformational and authentic leadership styles.

Keywords: training effectiveness, transformational leadership, authentic leadership, law enforcement mid-level manager

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Authors: Aayushi Lyngwa, Bimal Kishore Sahoo

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The study discusses the relationship between cognitive ability and the level of education attained by the tribal street entrepreneurs on their financial literacy. It is driven by the objective of examining the effect of cognitive ability on financial ability on the one hand and determining the effect of the same on financial literacy on the other. A field experiment was conducted on 203 tribal street vendors in the north-eastern Indian state of Mizoram. This experiment's calculations are conditioned by providing each question scores like math score (cognitive ability), financial score and debt score (financial ability). After that, categories for each of the variables, like math category (math score), financial category (financial score) and debt category (debt score), are generated to run the regression model. Since the dependent variable is ordinal, an ordered logit regression model was applied. The study shows that street vendors' cognitive and financial abilities are highly correlated. It, therefore, confirms that cognitive ability positively affects the financial literacy of street vendors through the increase in attainment of educational levels. It is also found that concerning the type of street vendors, regular street vendors are more likely to have better cognitive abilities than temporary street vendors. Additionally, street vendors with more cognitive and financial abilities gained better monthly profits and performed habits of bookkeeping. The study attempts to draw a particular focus on a set-up which is economically and socially marginalized in the Indian economy. Its finding contributes to understanding financial literacy in an understudied area and provides policy implications through inclusive financial systems solutions in an economy limited to tribal street vendors.

Keywords: financial literacy, education, street entrepreneurs, tribals, cognitive ability, financial ability, ordered logit regression.

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Authors: Muhammad Akhtaruzzaman

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The impact of corporate environmental social and governance (ESG) on financial performance is often difficult to quantify despite the ESG related theories predict that ESG performance improves financial performance of a company. This research examines the link between corporate ESG performance and the financial performance of the NZX (New Zealand Stock Exchange) listed companies. For this purpose, this research utilizes mixed methods approaches to examine and understand this link. While quantitative results found no robust evidence of such a link, however, the qualitative analysis of content data suggests a strong cooccurrence exists between ESG performance and financial performance. The findings of this research have important implications for policymakers to support higher ESG-performing companies and for management practitioners to develop ESG-related strategies.

Keywords: ESG, financial performance, New Zealand firms, thematic analysis, mixed methods

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Authors: Syafril Hendrik Hutabarat, Hartiwiningsih, Pujiyono Suwadi

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The Financial Service Authority (FSA) was formed as a response to the 1997 monetary crisis and the 2008 financial crisis so that it was more defensive in nature while developments in information and communication technology have required state policies to be more offensive to keep up with times. Reconstruction of Authorities of the FSA's Investigator is intended to keep the agency worthy to be part of an integrated criminal justice system in Indonesia which has implications for expanding its authority in line with efforts to protect and increase the welfare of the people. The results show that internal synergy between sub-sectors in the financial services sector is not optimised, some are even left behind so that the FSA is not truly an authority in the financial services sector. This research method is empirical. The goal of synergy must begin with internal synergy which has its moment when Indonesia gets a demographic bonus in the 2030s and becomes an international logistics hub supported by the national financial services sector.

Keywords: reconstruction, authorities, FSA investigators, synergy, demography

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Authors: Mahdieh Dehghan Nayeri, Hani Arbabi, Seid Pooyan Ghafoori

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Civic crowdfunding- crowdfunding public projects- which goes beyond people management- as a significant part of public projects stakeholders- and requires the active engagement of the public in both the financing and decision-making processes of public projects, is expanding. However, in most countries of the world, no specific legal framework has been approved for governing and managing the implementation of projects through this method. Through a systematic literature review, following the Preferred Reporting Items for Systematic Reviews (PRISMA), this article has studied and discussed the legal issues of civic crowdfunded projects in the countries leading the use of this method, in four themes; one related to the legal environment and three related to three leading players in civic crowdfunded projects include the investor, the platform, and the investee. The review showed that despite the increasing attention to people's engagement in public projects -financial and non-financial- not much scientific research has been done to formulate fully structured legal structures. Finally, neglected areas in research have been discussed as a guide for future research.

Keywords: civic crowdfunding, equity crowdfunding, public projects, legal issues, crowdsourcing

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Authors: Shama Urooj

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The present work investigates the relationship among financial inclusion, modernization, and energy performance in SCO member countries during the years 2011–2021. PCA is used to create composite indexes of financial inclusion, modernization, and energy performance. We used panel regression models that are both reliable and heteroscedasticity-consistent to look at the relationship among variables. The findings indicate that financial inclusion (FI) and modernization, along with the increased FDI, all appear to contribute to the energy performance in the SCO member countries. However, per capita GDP has a negative impact on energy performance. These results are unbiased and consistent with the robust results obtained by applying different econometric models. Feasible Generalized Least Square (FGLS) estimation is also used for checking the uniformity of the main model results. This research work concludes that there has been no policy coherence in SCO member countries regarding the coordination of growing financial inclusion and modernization for energy sustainability in recent years. In order to improve energy performance with modern development, policies regarding financial inclusion and modernization need be integrated both at national as well as international levels.

Keywords: financial inclusion, energy performance, modernization, technological development, SCO.

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Authors: Sarah K. Taylor, Miratun M. Saharuddin, Zabri A. Talib

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Cybercrime is on the rise, and yet many Law Enforcement Agencies (LEAs) in Malaysia have no Digital Forensics Laboratory (DFL) to assist them in the attrition and analysis of digital evidence. From the estimated number of 30 LEAs in Malaysia, sadly, only eight of them owned a DFL. All of the DFLs are concentrated in the capital of Malaysia and none at the state level. LEAs are still depending on the national DFL (CyberSecurity Malaysia) even for simple and straightforward cases. A survey was conducted among LEAs in Malaysia owning a DFL to understand their history of establishing the DFL, the challenges that they faced and the significance of the DFL to their case investigation. The results showed that the while some LEAs faced no challenge in establishing a DFL, some of them took seven to 10 years to do so. The reason was due to the difficulty in convincing their management because of the high costs involved. The results also revealed that with the establishment of a DFL, LEAs were better able to get faster forensic result and to meet agency’s timeline expectation. It is also found that LEAs were also able to get more meaningful forensic results on cases that require niche expertise, compared to sending off cases to the national DFL. Other than that, cases are getting more complex, and hence, a continuous stream of budget for equipment and training is inevitable. The result derived from the study is hoped to be used by other LEAs in justifying to their management the benefits of establishing an in-house DFL.

Keywords: digital evidence, digital forensics, digital forensics laboratory, law enforcement agency

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Authors: Seyedmohammad Mousavian

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Technological advancements are becoming unprecedentedly dominant everywhere. This dominance requires drastic chTechnological advancements are becoming unprecedentedly dominant everywhere. This dominance requires drastic changes in traditional thinking, procedures, and responsibilities. Chief Financial Officers (CFOs) have long played a key role in every organization around the globe and must adapt themselves to the disruptive technology which brings positive and negative points. This paper will discuss the shift of the traditional role of CFOs from just reporting toward more innovative roles like “Storytelling”, business partnering, and strategic planning.

Keywords: accounting information system, technology, data, CFO, finance

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Authors: Abdous Noureddine

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The problem of funding in Algeria emerged as a problem you need to study after many Algerians researchers pointed out that the faltering Algerian public economic institution due to the imbalance in the financial structures and lower steering and marketing efficiency, as well as a result of severe expansion of borrowing because of inadequate own resources, and the consequent inability This institution to repay loans and interest payments, in addition to increasing reliance on overdraft so used to finance fixed assets, no doubt that this deterioration requires research and study of the causes and aspects of treatment, which addresses the current study, aside from it.

Keywords: financial structure, financial capital, equity, debt, firm’s value, return, leverage

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Authors: C. F. Popoola, K. Akinsanya, S. B. Babarinde, D. A. Farinde

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This study investigated published financial statement as correlate of investment decision among commercial bank stakeholders in Nigeria. A correlation research design was used in the study. 180 users of published financial statement were purposively sampled from Lagos and Ibadan. Data generated were analyzed using Pearson correlation and regression. The findings of the study revealed that, balance sheet is negatively related with investment decision (r=-.483; p < .01) while income statement (r= .249; p < .001), notes on the account (r= .230; p < .001), cash flow statement (r= .202; p < .001), value added statement (r= .328; p < .001) and five-year financial summary (r= .191 ;p < .01) are positively related with investment decision. Findings also revealed that components of published financial statement significantly predicted good investment decision (R2= .983; F(5,175)=284.5; p < .05) for commercial bank stakeholders. Therefore, it was suggested that Nigeria banks and professional bodies should instigate programs that will increase the knowledge of stakeholders on published financial statement.

Keywords: commercial banks, financial statement, income statement, investment decision, stakeholders

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Authors: Peter Oyelere, Fernando Zanella

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Corporate governance is one of the most discussed and researched issues in recent times in countries around the world, with different countries developing and adopting different governance structures, models and mechanisms. While the Codes of corporate governance have been weaved into the regulatory fabrics of most countries, it is equally critically important that their mechanisms, procedures and practices be transparent, and be transparently communicated to all stakeholders. The Internet can be a very useful and cost-effective tool for the timely and voluntary communication of corporate governance matters to stakeholders. The current paper details the results of an investigation on the extent of which companies listed in the UAE are using the Internet for communicating corporate governance issues, matters and procedures. We surveyed the websites of companies listed on the two UAE Stock Exchanges – the Abu Dhabi Stock Exchange (ADX) and the Dubai Financial Market (DFM) – to find out their level and nature of usage of the Internet for corporate governance disclosures. Regulatory and policy implications of the results of our investigation, as well as other areas for further studies, are also presented in the paper.

Keywords: corporate governance, internet financial reporting, regulation, transparency, United Arab Emirates

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Authors: Erhan Turgut, Salih Ergün, Abdülkadir Öz

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Terror is a modern war strategy which uses violence as a means of communication in order to achieve political objectives. In today’s security environment narrowing the propaganda field of terrorist organization is the primary goal for the security forces. In this sense, providing and maintaining public support is the most necessary ability for security units. Rather than enemy and threat-oriented approach, homeland security oriented approach is essential to ensure public support. In this study, terror assumed as a homeland security issue and assigning the law enforcement forces with military status is analyzed.

Keywords: terrorism, counter-terrorism, military status law-enforcement, terrorist groups

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Authors: Yosia Mulumba, Klaus Schmidt

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Financial Inclusion is considered a key pillar for development in most countries around the world. Access to affordable financial services in a country’s economy can be a driver to overcome poverty and reduce income inequalities, and thus increase economic growth. Nevertheless, the number of financially excluded populations in developing countries continues to be very high. This paper explores the role of Financial Technology (Fintech) as a key driver for achieving financial inclusion in developing countries post the COVID-19 pandemic with an emphasis on four East African countries: Kenya, Tanzania, Uganda, and Rwanda. The research paper is inspired by the positive disruption caused by the pandemic, which has compelled societies in East Africa to adapt and embrace the use of financial technology innovations, specifically Mobile Money Services (MMS), to access financial services. MMS has been further migrated and integrated with other financial technology innovations such as Mobile Banking, Micro Savings, and Loans, and Insurance, to mention but a few. These innovations have been adopted across key sectors such as commerce, health care, or agriculture. The research paper will highlight the Mobile Network Operators (MNOs) that are behind MMS, along with numerous innovative products and services being offered to the customers. It will also highlight the regulatory framework under which these innovations are being governed to ensure the safety of the customers' funds.

Keywords: financial inclusion, financial technology, regulatory framework, mobile money services

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Authors: Vasudev Das

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In a global survey of more than 5,000 participants in 99 territories, PwC found a loss of $42 billion through fraud in the last 24 months. The specific problem is that private and public organizational leaders often do not understand the importance of sonic therapeutic intervention in preventing financial fraud. The study aimed to explore sonic therapeutic intervention practitioners' lived experiences regarding the value of sonic therapeutic intervention in preventing financial fraud. The data collection methods were semi-structured interviews of purposeful samples and documentary reviews, which were analyzed thematically. Four themes emerged from the analysis of interview transcription data: Sonic therapeutic intervention enabled self-control, pro-spiritual values, consequentiality mindset, and post-conventional consciousness. The itemized four themes helped non-engagement in financial fraud. Implications for positive social change include enhanced financial fraud management, more significant financial leadership, and result-oriented decision-taking in the financial market. Also, the study results can improve the increased de-escalation of anxiety/stress associated with defrauding.

Keywords: consciousness, consequentiality, rehabilitation, reintegration

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Authors: Torben Hansen

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While trust has long been regarded as one of the most critical variables for developing and maintaining well-functioning financial customer-seller relationships it can be suggested that trust not only relates to customer trust in individual companies (narrow-scope trust). Trust also relates to the broader business context in which consumers may carry out their financial behaviour (broad-scope trust). However, despite the well-recognized significance of trust in marketing research, only few studies have investigated the role of broad-scope trust in consumer financial behaviour. Moreover, as one of its many serious outcomes, the global financial crisis has elevated the need for an improved understanding of the role of broad-scope trust in consumer financial services markets. Only a minority of US and European consumers are currently confident in financial companies and ‘financial stability’ and ‘trust’ are now among the top reasons for choosing a bank. This research seeks to address this shortcoming in the marketing literature by investigating direct and moderating effects of broad-scope trust on consumer financial behaviour. Specifically, we take an ability-effort approach to consumer financial behaviour. The ability-effort approach holds the basic premise that the quality of consumer actions is influenced by ability factors, for example consumer knowledge and cognitive effort. Our study is based on two surveys. Survey 1 comprises 1,155 bank consumers, whereas survey 2 comprises 764 pension consumers. The results indicate that broad-scope trust negatively moderates relationships between knowledge and financial healthiness and between cognitive effort and financial healthiness. In addition, it is demonstrated that broad-scope trust negatively influences cognitive effort. Specifically, the results suggest that broad-scope trust contributes to the financial well-being of consumers with limited financial knowledge and processing capabilities. Since financial companies are dependent on customers to pay their loans and bills they have a greater interest in developing relations with consumers with a healthy financial behaviour than with the opposite. Hence, financial managers should be engaged with monitoring and influencing broad-scope trust. To conclude, by taking into account the contextual effect of broad-scope trust, the present study adds to our understanding of knowledge-effort-behaviour relationship in consumer financial markets.

Keywords: cognitive effort, customer-seller relationships, financial healthiness, knowledge, trust

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Authors: Saowapa Phaithayawat

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The purposes of this study are 1) to study the over 20-year attempt of Mahakan fort community to negotiate with Bangkok Metropolitan Administration (BMA) to remain in their residential area belonging to the state, and 2) to apply the new social and cultural dimension between the state and the community as an alternative for local participation in keeping their residential area. This is a qualitative research, and the findings reveal that the community claimed their ancestors’ right as owners of this piece of land for over 200 years. The community, therefore, requested to take part in the preservation of land, culture and local intellect and the area management in terms of being a learning resource on the cultural road in Rattanakosin Island. However, BMA imposed the law concerning the community area relocation in Rattanakosin Island. The result of law enforcement led to the failure of the area relocation, and the hard hit on physical structure of the area including the overall deterioration of the cultural road renovated in the year 1982, the 200 years’ celebration of Bangkok. The enforcement of law by the state required the move of the community, and the landscape improvement based on the capital city plan. However, this enforcement resulted in the unending conflicts between the community and the state, and the solution of this problem was unclear. At the same time the community has spent a long time opposing the state’s action, and preparing themselves by administrating the community behind Mahakan fortress with community administrative committee under the suggestion of external organization by registering all community members, providing funds for community administration. At the meantime the state lacked the continuation of the enforcement due to political problem and BMA’s administration problem. It is, therefore, suggested that an alternative solution to this problem lie at the negotiation between the state and the community with the purpose of the collaboration between the two to develop the area under the protective law of each side.

Keywords: Pom-Mahakan community, reduction of conflicts, social area disclosure, residential area

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Authors: Saima Akbar

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The global financial crisis severely and adversely impacted the Pakistanis’ financial setups with far-reaching consequences for its victims. This study aimed to analyze the various determinants of the banks’ financial performance in Pakistan. The stepwise multiple regression analysis and pre-post analysis were carried out in this regard by using SPSS ver 22. The study found that the assets quality is the most influential determinant of return over assets followed by bank size and solvency. Advances, liquidity, investments, and size have positive while poor assets quality and deposits have a negative impact on the return over assets. The comparison of the pre-crisis and post-crisis coefficient values of the independent variables revealed that the global financial crisis had exerted a significant impact on the relative ability of the financial performance determinants to explain variations in return over assets.

Keywords: pre-crisis, post-crisis, coefficient values, determinants

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Authors: Nomakhosi Tshuma, Carley Chetty

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This study employed panel regression analysis to investigate the financial performance determinants of MTN and Vodacom’s rest of Africa businesses between 2012 to 2020. It used net profit margin, return on assets (ROA), and return on equity (ROE) as financial performance proxies. Financial performance determinants investigated were asset size, debt ratio, liquidity, number of subscribers, and exchange rate. Data relating to exchange rates were obtained from the World Bank website, while financial data and subscriber information were obtained from the companies’ audited financial statements. The study found statistically significant negative relationships between debt and both ROA and net profit, exchange rate and both ROA and net profit, and subscribers and ROE. It also found significant positive relationships between ROE and both asset size and exchange rate. The study recommends strategic options that optimise on the above findings, and these include infrastructure sharing to reduce infrastructure costs and the minimisation of foreign-denominated debt.

Keywords: financial performance, determinants of financial performance, business in Africa, telecommunications industry

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Authors: Cao Jiayu, Lan Ximing, Huang Jingjia, Burra Venkata Durga Kumar

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The first virus to attack personal computers was born in early 1986, called C-Brain, written by a pair of Pakistani brothers. In those days, people still used dos systems, manipulating computers with the most basic command lines. In the 21st century today, computer performance has grown geometrically. But computer viruses are also evolving and escalating. We never stop fighting against security problems. Stack overflow is one of the most common security vulnerabilities in operating systems. It may result in serious security issues for an operating system if a program in it has a vulnerability with administrator privileges. Certain viruses change the value of specific memory through a stack overflow, allowing computers to run harmful programs. This study developed a mechanism to detect and respond to time whenever a stack overflow occurs. We demonstrate the effectiveness of standard machine learning algorithms and control flow enforcement techniques in predicting computer OS security using generating suspicious vulnerability functions (SVFS) and associated suspect areas (SAS). The method can minimize the possibility of stack overflow attacks occurring.

Keywords: operating system, security, stack overflow, buffer overflow, machine learning, control-flow enforcement technology

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Authors: Narvada Ramdhany, Reena Bhattu Babajee

Abstract:

The 2007-2008 Global Financial Crisis which initiated in the US had a global outreach, impacting the financial and banking sectors of several economies; such as European countries, developing and emerging countries in Asia, Latin America and Africa. European countries represent one of the main sources of export earnings for Mauritius and given that Europe has been quite profoundly affected by the crisis, the Mauritian economy also could have been negatively affected. This study is being undertaken to see if the crisis had a spill-over effect on the Mauritian banking system. It will also enable to determine if the measures put in place to counteract the crisis by regulatory authorities have been effective. The study will be carried out on 17 banks and data will be collected over a time frame of seven years; with a pre-crisis period from 2005 to 2007 and a post-crisis period from 2009 to 2011. The impact of the crisis as such will be measured through the financial performance of the banks, using financial ratios and regression analysis. The results show that during the period concerned Mauritian banks have remained solvent and relatively stable. One of the main explanations put forward to explain the resilience of the banking sector to the crisis is that foreign exposure was relatively low. Another explanation put forward is that Mauritian banks normally transact mainly with prime borrowers unlike most the banks which were affected by the financial crisis.  

Keywords: global financial crisis, banking sector, financial performance, Mauritian banks

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Authors: Yuzhi Cai

Abstract:

In this paper, we introduce a newly developed quantile function model that can be used for estimating conditional distributions of financial returns and for obtaining multi-step ahead out-of-sample predictive distributions of financial returns. Since we forecast the whole conditional distributions, any predictive quantity of interest about the future financial returns can be obtained simply as a by-product of the method. We also show an application of the model to the daily closing prices of Dow Jones Industrial Average (DJIA) series over the period from 2 January 2004 - 8 October 2010. We obtained the predictive distributions up to 15 days ahead for the DJIA returns, which were further compared with the actually observed returns and those predicted from an AR-GARCH model. The results show that the new model can capture the main features of financial returns and provide a better fitted model together with improved mean forecasts compared with conventional methods. We hope this talk will help audience to see that this new model has the potential to be very useful in practice.

Keywords: DJIA, financial returns, predictive distribution, quantile function model

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Authors: Kelly Grani Yuen

Abstract:

Accounting scandals and auditing frauds are perceived to be driven by aggressive companies and misrepresentation of audit reports. However, local legal systems and law enforcements may affect the services auditors provide to their ‘important’ clients. Under the civil law and common law jurisdictions, the standard setters, the government, and the regulatory bodies treat cases differently. As such, whether or not different forms of legal systems and extent of law enforcement plays an important role in auditor’s Audit Quality is a question this paper attempts to explore. The paper focuses on the investigation in Asia, where Hong Kong represents the common-law jurisdiction, while Taiwan and China represent the civil law jurisdiction. Only the ten reputable accounting firms are used in this study due to the differences in rankings and establishments of some of the small local audit firms. This will also contribute to the data collected between the years 2007-2013. By focusing on the use of multiple regression based on the dependent (Audit Quality) and independent variables (Client Importance, Law Enforcement, and Press Freedom), six different models are established. Results demonstrate that since different jurisdictions have different legal systems and market regulations, auditor’s treatment on ‘important’ clients will vary. However, with the moderators in place (law enforcement and press freedom), the relationship between client importance and audit quality may be smoothed out. With that in mind, this study contributes to local governments and standard setters’ consideration on legal reform and proper law enforcement in the market. Perhaps, with such modifications on the economic systems, collusion between companies and auditors can finally be put to a halt.

Keywords: audit quality, client importance, jurisdiction, modified audit opinions

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