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Full-Text Articles in Finance and Financial Management

The Decision To Outsource Risk Management Activities, Jacqueline Christensen, Pamela Kent Oct 2012

The Decision To Outsource Risk Management Activities, Jacqueline Christensen, Pamela Kent

Pamela Kent

This study uses transaction cost economics (TCE) to identify factors influencing Australian Securities Exchange (ASX) companies’ decision to internally generate or outsource activities required to manage risk. Limited research has been conducted applying TCE in a risk management context with most in the accounting discipline concentrating on internal audit. Increasing our understanding of risk management practices benefits organisations, accounting professionals and regulators concerned with governance practice. Using a unique data set obtained from a survey sample of 271 listed ASX companies in 2009 combined with archival data hypotheses are operationalised and analysed using multivariate and logistic regression. Broadly in line …


Micro And Macro Determinants Of Financial Distress, Ray Mcnamara, Keith Duncan, Simone Kelly Oct 2012

Micro And Macro Determinants Of Financial Distress, Ray Mcnamara, Keith Duncan, Simone Kelly

Keith Duncan

One criticism of failure prediction models is the bias resulting from pooling failure data over years when economic conditions might influence the failure of a firm. This research incorporates both macroeconomic variables and firm specific variables in explaining corporate failure. The results suggest that including economic variables improve the explanation of failure by ten percent. The economic variables included in the analysis were one-year lag in change in GDP, a two-year lag in interest rates, a one-year lag in the share price index, and a one-year lag in corporate profits. Economic variables were identified using a principal component analysis of …


Micro And Macro Determinants Of Financial Distress, Ray Mcnamara, Keith Duncan, Simone Kelly Oct 2012

Micro And Macro Determinants Of Financial Distress, Ray Mcnamara, Keith Duncan, Simone Kelly

Simone Kelly

One criticism of failure prediction models is the bias resulting from pooling failure data over years when economic conditions might influence the failure of a firm. This research incorporates both macroeconomic variables and firm specific variables in explaining corporate failure. The results suggest that including economic variables improve the explanation of failure by ten percent. The economic variables included in the analysis were one-year lag in change in GDP, a two-year lag in interest rates, a one-year lag in the share price index, and a one-year lag in corporate profits. Economic variables were identified using a principal component analysis of …


Istanbul’S Current Status And Potential For Becoming An International Financial Centre, Hasmet Sarigul Sep 2012

Istanbul’S Current Status And Potential For Becoming An International Financial Centre, Hasmet Sarigul

Hasmet Sarigul

The Turkish government has been pursuing a goal to turn Istanbul into a regional centre for finance and then, an international one. However, creating an international financial centre where international demand and supply of funds meet is not an easy process. In this context, we aimed to examine the current status and the potential of Istanbul to become an international financial centre. In order to reach the aim of the study, firstly, the characteristics of an international financial centre have been explained and a brief overview of the Turkish government’s official plans of development of the international financial centre have …


Fraud Prevention In Nigeria: Applying The Forensic Accounting Tool, Professor Ben C Osisioma Jul 2012

Fraud Prevention In Nigeria: Applying The Forensic Accounting Tool, Professor Ben C Osisioma

Prof Ben Chuka Osisioma

The spate of global scandals and corporate misadventures that began with the energy giant, Enron in the years 2000 to 2002, the Asian Financial Crisis of 1997/98, and the global Financial Meltdown of 2008, rocked the accountancy profession and sharply drew attention to the need for the profession to re-invent itself and re-define its focus in the new millennium. Accounting practitioners world-wide, have tested the limits of creative accounting, and the verdict of the marketplace is that the era of sharp and unwholesome practices are over for good. Part of the professional response to challenge of this era, is the …


Fraud Prevention In Nigeria: Applying The Forensic Accounting Tool By Prof. Benjamin, Professor Ben C Osisioma Jul 2012

Fraud Prevention In Nigeria: Applying The Forensic Accounting Tool By Prof. Benjamin, Professor Ben C Osisioma

Prof Ben Chuka Osisioma

The spate of global scandals and corporate misadventures that began with the energy giant, Enron in the years 2000 to 2002, the Asian Financial Crisis of 1997/98, and the global Financial Meltdown of 2008, rocked the accountancy profession and sharply drew attention to the need for the profession to re-invent itself and re-define its focus in the new millennium. Accounting practitioners world-wide, have tested the limits of creative accounting, and the verdict of the marketplace is that the era of sharp and unwholesome practices are over for good. Part of the professional response to challenge of this era, is the …


Factoring As A Financing Option In Turkey : A Comparative Study, Hasmet Sarigul Jun 2012

Factoring As A Financing Option In Turkey : A Comparative Study, Hasmet Sarigul

Hasmet Sarigul

Factoring is a form of short-term commercial finance based on the selling of trade debts at a discount from one party to another. Factoring is one of the oldest methods of business financing in developed countries. The Factoring operations in Turkey began in late 1980s as a product of commercial banks and started to become the activity of separately established factoring companies in the early 1990s. The basic frame of this study constitutes an empirical comparison of factoring companies in Turkey as bank subsidiaries and independent factoring companies in terms of some selected financial ratios in 2009 and 2010 years. …


Individual Investors Perception Of Dividends: Pakistan's Perspective, Muhammad Naeem Akhtar May 2012

Individual Investors Perception Of Dividends: Pakistan's Perspective, Muhammad Naeem Akhtar

Muhammad Naeem Akhtar

This research paper argue that there exists a strong preference for dividends among investors. The main purpose is to find the factors that lead individual investors to reveal their preference for either cash or stock dividends. The most important dividend theories are employed to test the behavior of Pakistani individual investors towards dividends. The results reveal strong evidence that individual investors in Pakistan want dividends either in the form of cash or stocks. They also have a strong preference for dividend even if a company has to pay it by borrowing.


Long Run Relationship Between Poverty And Macro-Economic Variables In Pakistan, Muhammad Naeem Akhtar May 2012

Long Run Relationship Between Poverty And Macro-Economic Variables In Pakistan, Muhammad Naeem Akhtar

Muhammad Naeem Akhtar

This research study examines the long run relationship between poverty and economic indicators in Pakistan. Data from 1972 to 2010 is used to analyze the relationship between various economic variables and poverty. The economic indicators include; consumer price index, literacy rate and population growth. Head count rate is used to measure poverty. The statistical techniques used include unit root Augmented Dickey Fuller test (for checking the stationary data) & Johansen’s co-integration test for long run relationship. The study found co-integration between all the economic factors and poverty, which means that economic performance indicators are pertinent predictors of poverty. This can …


La Transparencia En La Protección De Datos Personales, Bruno L. Costantini García May 2012

La Transparencia En La Protección De Datos Personales, Bruno L. Costantini García

Bruno L. Costantini García

La Transparencia en la Protección de Datos Personales, ponencia elaborada dentro de los trabajos del VII Congreso Nacional de Organismos Públicos Autónomos (OPAM)


Determinants Of Dow Jones Returns, Elisabeta Pana, Cory Sloan, '12 Apr 2012

Determinants Of Dow Jones Returns, Elisabeta Pana, Cory Sloan, '12

Elisabeta Pana

No abstract provided.


The Finance Behind Conference Realignment, Elisabeta Pana, Brian Piotrowski, '12 Apr 2012

The Finance Behind Conference Realignment, Elisabeta Pana, Brian Piotrowski, '12

Elisabeta Pana

No abstract provided.


Aspectos Generales Dela Publicidad En México. "La Publicidad De Productos, Servicios, Y Actividades Reguladas Por La Ley General De Salud", Bruno L. Costantini García Feb 2012

Aspectos Generales Dela Publicidad En México. "La Publicidad De Productos, Servicios, Y Actividades Reguladas Por La Ley General De Salud", Bruno L. Costantini García

Bruno L. Costantini García

Introducción a las generalidades de la regulación en materia de publicidad de insumos para el consumo humano (salud) en México.


An Examination Of Factors For The Strategic Use Of Information Systems In The Healthcare Industry, K. Kyu Kim, Jeffrey E. Michelman Jan 2012

An Examination Of Factors For The Strategic Use Of Information Systems In The Healthcare Industry, K. Kyu Kim, Jeffrey E. Michelman

Jeffrey E Michelman

The potential use of information systems technology (IST) as a competitive weapon has been of enormous interest to many academic scholars and practitioners. However, the importance of identifying factors that organizations must deal with in the process of achieving IST competitive advantages has received inadequate research attention. This article attempts to identify these important factors for the strategic use of IST by examining the multifaceted role of IST in the healthcare context. Three propositions are developed from (1) re-examining a variety of successful IST applications both within and outside healthcare organizations, (2) re-applying the integration concept from the literature, and …


An Institutional Theory Perspective On The Drg Framework, Case-Mix Accounting Systems And Health-Care Organizations, Mark A. Covaleski, Mark W. Dirsmith, Jeffrey E. Michelman Jan 2012

An Institutional Theory Perspective On The Drg Framework, Case-Mix Accounting Systems And Health-Care Organizations, Mark A. Covaleski, Mark W. Dirsmith, Jeffrey E. Michelman

Jeffrey E Michelman

Case-mix accounting systems have been advanced as both reflecting the economic reality that underlies a hospital's various “product lines”, as defined by DRG prospective payment categories, and facilitating rational decision making regarding resource acquisition, deployment and use. This article uses the institutional perspective to extend this conceptualization of case-mix accounting systems. The institutional perspective proposes that many elements of organizational structure, like case-mix accounting systems, reflect as much a need to conform to societal expectations of acceptable practice as the technical imperative of fostering rationality. This article also extends institutional theory regarding the issues of power and decoupling by considering …


Voice Recognition Software, Bobby E. Waldrup, Jeffrey E. Michelman, Maxine L. Person Jan 2012

Voice Recognition Software, Bobby E. Waldrup, Jeffrey E. Michelman, Maxine L. Person

Jeffrey E Michelman

Voice recognition software (VRS) allows computer users to control applications with voice commands instead of the traditional keyboard and mouse. The technology is being heralded as the next generation of human-computer interface, promising to make computer applications more efficient and user-friendly. The authors introduce the three major off-the-shelf VRS packages, discuss possible uses for CPAs, and chronicle their difficulties in using the technology and adapting to its requirements and shortcomings. Those hoping for immediate increased efficiency in all aspects of usage will likely be disappointed; VRS delivered on certain promises but fell far short of the authors’ expectations in others. …


Cpas' Role In Fighting Fraud In Nonprofit Organization, Andrea Mcneal, Jeffrey E. Michelman Jan 2012

Cpas' Role In Fighting Fraud In Nonprofit Organization, Andrea Mcneal, Jeffrey E. Michelman

Jeffrey E Michelman

The article discusses the role of financial officers and certified public accountants in facilitating and ensuring effective internal controls in nonprofit organizations. Nonprofit boards frequently experience a high turnover of members, and individuals that volunteer are often untrained or unqualified to properly perform the oversight function. Moreover, most small nonprofits are cash based, which can compound any issues or weaknesses present in the control environment.


Improving Internal Control Over Financial Reporting: Coso’S Guidance Not Just For Public Companies Anymore, Jeffrey E. Michelman, Bobby E. Waldrup Jan 2012

Improving Internal Control Over Financial Reporting: Coso’S Guidance Not Just For Public Companies Anymore, Jeffrey E. Michelman, Bobby E. Waldrup

Jeffrey E Michelman

When the Committee of Sponsoring Organizations (COSO) released itsInternal Control—Integrated Framework (ICFR) in 1992, the event went largely unnoticed. The importance of this framework changed dramatically with the passage of the Sarbanes-Oxley Act of 2002 (SOX). Because SOX required all covered entities to base their assessment of internal control on a recognized framework, COSO was readily embraced. Unfortunately, smaller public and nonpublic companies have found the 1992 framework complicated to apply and to understand.