Digital Commons Network^™

An Overview Of Caribbean Securities Exchanges, Clifford Chad Henson

Clifford Chad Henson

Caribbean securities exchanges have existed since the 1969 creation of the Jamaican Stock Exchange; in the last 15 years those exchanges have increased in number and signiicance. From the creation of the Bermuda Stock Exchange in 1971 to the creation of the Trinidad & Tobago Stock Exchange in 1981, no new exchanges with staying power were added. Beginning with the Barbados Stock Exchange in 1987 and followed by the Bolsa de Valores de la Republica Dominicana in 1991, the Cayman Islands Stock Exchange in 1997, the Bahamas International Securities Exchange and the International Finance Center and Exchange in 1999, and …

Evaluating The Extent Of How Islamic Jordanian Banks Applied The Concept Of Islamic Banking Marketing From Customers View Points, Philadelphia University

Philadelphia University, Jordan

No abstract provided.

The Role Of Derivatives In The Financial Crisis – Testimony Before The Financial Crisis Inquiry Commission, June 30, 2010, Michael Greenberger

Michael Greenberger

It is now almost universally accepted that the unregulated multi-trillion dollar OTC CDS market helped foment a mortgage crisis, then a credit crisis, and finally a ―once-in-a-century systemic financial crisis that, but for huge U.S. taxpayer interventions, would have in the fall of 2008 led the world economy into a devastating Depression. Before explaining below the manner in which credit default swaps fomented this crisis, it worth citing in the margin those many economists, regulators, market observers, and financial columnists who have described the central role unregulated CDS played in the crisis. Even those once skeptical of arguments about the …

Do Accounting Rules Matter? The Dangerous Allure Of Mark To Market, Todd Henderson

Todd Henderson

This paper examines the relative strength of two imperfect accounting rules: historical cost and mark to market. The manifest inaccuracy of historical cost is well known, and, paradoxically one source of its hidden strength. Because private parties know of its evident weaknesses they look elsewhere for information. In contrast, mark to market for hard-to-value assets has many hidden weaknesses. In this paper we show how it creates asset bubbles and exacerbate their negative collateral consequences once they burst. It does the former by allowing banks to adopt generous valuations in up-markets that increase their lending capacity. It does the latter …

Financial Management Practices And Their Impact On Organizational Performance, Babar Zaheer Butt, Ahmed Imran Hunjra, Kashif Ur Rehman

Ahmed Imran Hunjra (PhD)

This study measures the relationship between organizational performance and financial management practices like capital structure decision, dividend policy, investment appraisal techniques, working capital management and financial performance assessment in Pakistani corporate sector. Sample of the study consisted of forty companies operating in Pakistan, related to different sectors and listed at Karachi Stock Exchange. The finance executives and financial analysts of the companies responded to questionnaire that identified through company profiles and references. The questionnaires were self administered to collect the data from respondents. The results show a positive and significant relationship between financial management practices and organizational performance in Pakistani …

Earthquake Reconstruction In Pakistan: The Case Of The Omar Asghar Khan Development Foundation’S Campaign, International Budget Partnership

International Budget Partnership

The devastating earthquake that shook the Hazara region and the Azad Kashmir province in Northwest Pakistan on October 2005 led to a flood of donor money for reconstruction and rehabilitation in the affected areas. Three years later many people were still without adequate housing or critical public infrastructure. This is partly the result of unfulfilled government promises and the slow pace of reconstruction projects. This case study describes how a large coalition of civil society organizations (CSOs) and citizens embarked on a campaign to jump-start Pakistan’s efforts to rebuild. The campaign was led by the Omar Asghar Khan Development Foundation, …

South Africa: Civil Society Uses Budget Analysis And Advocacy To Improve The Lives Of Poor Children, Neil Overy, International Budget Partnership

International Budget Partnership

In South Africa a range of civil society organizations and coalitions have been central to post-Apartheid efforts to protect vulnerable children through social security grants. This case study describes how the persistent campaigning of these organizations has contributed to significant budget and policy changes over the last decade such as the expanded eligibility for the Child Support Grant.

The full version, short summary, and one page summary of this case study are available in English. Summaries are also available in Spanish and French.

LINK: http://internationalbudget.org/publications/south-africa-civil-society-uses-budget-analysis-and-advocacy-to-improve-the-lives-of-poor-children/

Quality Of Education Reforms: The Case Of Hakielimu’S Campaign Of 2005-2007, International Budget Partnership

International Budget Partnership

HakiElimu is a civil society organization in Tanzania that works to ensure that all the country’s children receive high-quality basic education. When developing its Programme Strategy for 2004-2007, HakiElimu noted improvements in enrollment levels, but identified a lack of attention to education quality. This case study describes the campaign that led to improvements in Tanzania’s schools.

A short summary and one page summary of this case study are available in English. Summaries are also available in Spanish, French, Arabic, and Chinese.

LINK: http://internationalbudget.org/publications/quality-of-education-reforms-the-case-of-hakielimus-campaign-of-2005-2007/

Changing The Rules Of The Game: Deriving New Rules And Practices From Caperton V. A.T. Massey Coal Co., Aman L. Mcleod

Aman L McLeod

In 2009, the United States Supreme Court decided the case of Caperton v. A.T. Massey Coal Co., in which it ruled that judges must recuse themselves in cases involving those who have provided a disproportionate amount of financial support to their campaigns. This decision has forced states to reconsider their campaign finance laws and their judicial recusal rules. This article proposes practical and modest reforms that states could adopt that would effectively respond to the Caperton decision.

Toward A New Law And Economics: The Case Of The Stock Market, Lawrence E. Mitchell

Lawrence E. Mitchell

Toward a New Law and Economics: The Case of the Stock Market

Abstract

Do the public equity markets play the macroeconomic role we believe them to play? What is the relationship between the U.S. public equity markets and American economic growth? What do these conclusions teach us about the approaches we take and should take in evaluating and designing the laws of corporate governance and securities regulation?

The law and economics paradigm of the last forty years may be mistaken in assuming that economic efficiency on an individual (or institutional) level is sufficient to ensure economic welfare on a macroeconomic …

Trading In The Australian Stockmarket Using Artificial Neural Networks, Bruce Vanstone

Bruce Vanstone

This thesis focuses on training and testing neural networks for use within stockmarket trading systems. It creates and follows a well defined methodology for developing and benchmarking trading systems which contain neural networks.

Local Government Administration In Malaysia, Ozy B. Orluwene Jp

Dr Ozy B.Orluwene,JP

No abstract provided.

• The Credit Crisis And Subprime Litigation: How Fraud Without Motive ‘Makes Little Economic Sense’, Peter Hamner

Peter Hamner

The recent collapse of the financial markets spurred numerous lawsuits seeking a faulty party. Many plaintiffs argue that market participants committed securities fraud. They claim that deficient subprime loans caused the financial crisis. These risky loans were allegedly originated by banks to be sold off to third parties. The subprime loans were securitized and spread throughout the financial markets. The risk these loans presented was allegedly not disclosed to the buyers of the loans and securities on the loans. As these deficient loans and securities began to default the financial markets came to a halt. This article argues that securities …

The Real Yield Curve And Macroeconomic Factors In The Chilean Economy, Marco Morales

Marco Morales

No abstract provided.

The Interface Of Neoliberal Globalization, Science Education And Indigenous African Knowledges In Africa, Edward Shizha

Edward Shizha

In a globalized neo-colonial world, an insidious and often debilitating crisis of knowledge construction and legitimation does not only continue to undermine the local and indigenous knowledge systems, but it also perpetuates a neo-colonial and oppressive socio-cultural science educational system that debilitates the social and cultural identity of the indigenous African student. As Schissel and Wotherspoon (2003: vii) argue, "Educational relations are critical elements of our humanity and sociability." This paper explores the homogenizing effects of globalization and the oppressive forces of neo-colonialism that continue to work together to privilege "western-based scientific knowledge" at the expense of indigenous knowledge systems. …

Climate Change Consensus: Emerging International Law, Prof. Elizabeth N. Burleson

Prof. Elizabeth Burleson

This article focuses on emerging international law addressing climate change. Providing a background on international negotiations, it considers the greenhouse gas emissions targets needed to avert catastrophic climate change. Assessing the funding debate, this article concludes that agreement in Copenhagen must result in a comprehensive instrument with which to maintain global emissions below 350 parts per million of carbon dioxide. Multilateral coordination can develop an effective framework for climate stabilization.