Finance and Financial Management Commons^™

The Chicken Or The Egg? The Trade-Off Between Bank Fee Income And Net Interest Margins, Barry Williams, Gulasekaran Rajaguru

Gulasekaran Rajaguru

This study considers the time series relationship between bank fee income and bank net interest margins in Australia, applying panel vector autoregressions to a unique, hand-collected dataset. Increases in bank fee income are being used to supplement decreases in net interest margins. The increase in magnitude of fee income associated with reductions in margin income is smaller than the decrease in net interest margins, resulting in a net wealth transfer favouring users of bank services; although not all users of bank services gained and/or gained equally. The overall increase in fee income is marginally greater that the reduction in margin …

The Chicken Or The Egg? The Trade-Off Between Bank Fee Income And Net Interest Margins, Barry Williams, Gulasekaran Rajaguru

Barry Williams

This study considers the time series relationship between bank fee income and bank net interest margins in Australia, applying panel vector autoregressions to a unique, hand-collected dataset. Increases in bank fee income are being used to supplement decreases in net interest margins. The increase in magnitude of fee income associated with reductions in margin income is smaller than the decrease in net interest margins, resulting in a net wealth transfer favouring users of bank services; although not all users of bank services gained and/or gained equally. The overall increase in fee income is marginally greater that the reduction in margin …

Would Women Leaders Have Prevented The Global Financial Crisis? Teaching Critical Thinking By Questioning A Question, Julie Nelson

Julie A. Nelson

Would having more women in leadership have prevented the financial crisis? This question, raised in the popular media, can make effective fodder for teaching critical thinking within courses such as gender and economics, money and financial institutions, pluralist economics, or behavioural economics. While the question, as posed, demands an answer of 'Yes - sex differences in traits are important' or 'No - gender is irrelevant', students can be encouraged to question the question itself. The first part of this essay briefly reviews literature on the sameness-versus-difference debate, noting that the belief in exaggerated behavioural differences between men and women is …

Good Corporate Governance: The Role Of The Accountant, Professor Ben C Osisioma

Prof Ben Chuka Osisioma

Corporate governance deals with the mechanism by which stakeholders of a company exercise control over corporate managers and provide overall direction to the firm, such that stakeholders’ interests are protected. In such a situation, the firm operates more responsibly and profitably, relations are enhanced between the firm and all stakeholders - shareholders, policyholders, employees, suppliers and society at large - the quality of executive and non-executive directors is improved, the firm thinks long-term, information needs of all stakeholders are satisfied, and executive management is monitored properly in the interest of shareholders. The role of the accountant in this setting, is …

Demanda De Institucionales Por Emisiones De Medianas Empresas, John Pineda Galarza

John Pineda Galarza

En abril de 2013 se concretó la primera emisión de papeles comerciales en el ámbito del Mercado Alternativo de Valores (MAV) la cual fue un éxito pues se logró una demanda de 3 a 1, sin embargo los inversionistas institucionales brillaron por su ausencia. En el presente artículo, se analizan los principales desincentivos que tienen inversionistas institucionales como las AFP para invertir en instrumentos emitidos por medianas empresas, planteando en ese sentido algunos temas pendientes en relación con el MAV.

Facilitating Successful Failures, Michelle M. Harner, Jamie Marincic Griffin

Michelle M. Harner

Approximately 80,000 businesses fail each year in the United States. This article presents an original empirical study of over 400 business restructuring professionals focused on a critical, arguably contributing factor to these failures—the conduct of boards of directors and management. Anecdotal evidence suggests that management of distressed companies often bury their heads in the sand until it is too late to remedy the companies’ problems, a phenomenon commonly called “ostrich syndrome.” The data confirm this behavior, show a prevalent use of loss framing, and suggest trends consistent with prospect theory. The article draws on these data and behavioral economics to …

Strategic Planning: A Dynamic Process, Steven Slezak

Steven Slezak

A presentation outlining the steps taken to produce a thorough strategic business plan, along with the supporting analysis.

What Is Strategy?, Steven Slezak

Steven Slezak

A presentation outlining the nature of strategy, emphasizing its paradoxical nature, describing its structure, and describing competitive advantage and the value chain.

Let's Stick Together: The Finance Function As Glue, Mark E. Pickering

Mark E Pickering

Finance can play a valuable role in helping align the different organisational departments more closely to achieve a common goal. This article indicates some of the causes of friction between departments and provides suggestions as to how finance executives and managers can contribute to greater alignment.

Reserve Currency And A Lender Of Next-To-Last Resort: A Literature Review, Alida S. Skold

Alida S. Skold

The role of the US dollar as the global dominant reserve currency is eroding. Debate is ongoing regarding next steps. Moving the international monetary system to a single global currency is part of the debate. Literature reviews the eroding role of the US dollar and implications the erosion carries for the US. The Special Drawing Rights developed by the IMF could fill the role of Keynes’ recommended global currency known as the “bancor.” Regardless of the nature of the global reserve currency, access to liquidity is required to have an effective international monetary system. Literature defines a missing layer of …

A Strategy For Rural Financial Market Reform: Applying The Financial Systems Approach In Ghana, Harlan M. Smith Ii, Abor Yeboah

Harlan M. Smith

We construct, using methods advocated in one strand of the Financial Systems Approach literature, a reform-and-renewal program for one of Ghana’s struggling Rural Banks--the Kaaseman Rural Bank. Questionnaire results, local informal financial practices, recent institutional innovations in Ghanaian finance, the experiences of successful “Nontraditional” rural finance institutions in developing countries, and the operating structure of the Rural Bank program indicate that this bank can implement a group-lending scheme that will reduce significantly its transaction costs and those of its customers. We thus demonstrate how the Financial Systems Approach can be employed to promote sustainable rural financial intermediation in a specific …

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

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 …

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

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 …

Cause Related Marketing And Its Impact On Sales: Mediating By Brand Loyalty And Customer Purchase Intention, Ahmed Imran Hunjra, Rauf I. Azam, Asad Afzal Humayoun

Ahmed Imran Hunjra (PhD)

The objective of this study is to test CRM and sales in their direct relation and examine the impact of CRM campaigns on brand loyalty, consumer purchase intention and ultimately on sales. The questionnaire was distributed among students and employees at different universities and organizations. This study concludes that cause related marketing campaigns have positive influence on sales activities of companies. This link is also mediated by brand loyalty and consumer purchase intention that eventually have positive effect on sales.

The Impact Of Trust And Cabin Crew Performance On Customers’ Satisfaction, Nadeem Safwan, Ahmed Imran Hunjra, Mohammad Ashfaq, Syed Qasim Haroon Naqvi

Ahmed Imran Hunjra (PhD)

In this research, the case of AIRBLUE has been taken to examine what people think about its performance, whether they trust this airline or not, and are they satisfied or not? Further, this study measures the impacet of cabin crew performance and trust on customer satisfaction. The data was collected by distributing questionnaires to the domestic travelers of AIRBLUE. The sample size of the research was of 180 people. The result shows that majority of people are satisfied with the performance of AIRBLUE and they trust on its service, but at the same time they have positive expectation that AIRBLUE …

Marketing Ethics And Pharmaceutical Industry, Khurram Mirza, Majed Rashid, Ahmed Imran Hunjra

Ahmed Imran Hunjra (PhD)

Does marketing practices of pharmaceutical companies in developed and third world countries are same? This book gives a perspective of Unethical Marketing and Promotional activities done by Pharmaceutical Companies.Pharmaceuticals internationally are under scrutiny, for conducting their business on high ethical grounds but this would seem to be a wild goose chased, when we actually evaluate the business conduct of those organizations in developing countries. There is a substantial difference of ethical conduct in doing business in third world countries like Pakistan. In this book the author tries to elaborate these differences for understanding the Unethical Marketing and Promotion of Pharmaceutical …

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)

Investment Appraisal Techniques And Constraints On Capital Investment, Ahmed Imran Hunjra, Iram Batool, Ghulam Shabbir Khan Niazi, Ijaz Ur Rehman

Ahmed Imran Hunjra (PhD)

The objective of this study is to determine the level of application and perception of finance executives and analysts regarding the investment appraisal techniques in Pakistani corporate sector in the light of theory. This study also investigates the major constraints on capital investment. Total 63 questionnaires were distributed in different cities of Pakistan (Islamabad, Rawalpindi, Lahore, Multan and Faisalabad) but only 37 properly filled questionnaires were processed; the potential respondents were the finance executives and Chief Financial Officers (CFOs) of the companies. The companies listed at KSE related to ten leading sectors were the population of this study. It is …

Individual Investors Perception Of Dividends: Pakistan's Perspective, Muhammad Naeem Akhtar, Ahmed Imran Hunjra, Arifa Andleeb, Babar Zaheer Butt

Ahmed Imran Hunjra (PhD)

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, Ahmed Imran Hunjra, Nadeem Safwan, Abrar Ahmad

Ahmed Imran Hunjra (PhD)

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 …

Determinants Of Financial Management Practices: A Conceptual Study, Ahmed Imran Hunjra, Jamshed Iqbal

Ahmed Imran Hunjra (PhD)

The purpose of this study is to investigate various factors (uncertainty, corporate social disclosure and stakeholder) that impact the selection of financial management practices. Further, this study attempts to explore the impact of financial management practices and earnings management on firm performance. In order to achieve the objective, a conceptual model has been developed based on previous theories and empirical literature. The findings of the study would be quite beneficial for capital providers – lenders and shareholders – who would like to use their funds for financial practices. On the other hand, capital providers will be hesitant to provide capital …

Relationship Between Decision Making Styles And Consumer Behavior, Ahmed Imran Hunjra, Ghulam Shabbir Khan Niazi

Ahmed Imran Hunjra (PhD)

The objective of this study is to identify different factors that impact consumer behavior on the basis of a decision making style. The sample size of this study was 250 questionnaires. Correlation and multiple regression were performed to measure the relationship between independent and dependent variables. This study concludes there is a significant relationship between male and female decision making style and female respondents are more likely to assert that decision making styles influence consumer behavior. All the independent variables have significant positive relationship with consumer behavior.

Service Quality, Customer Satisfaction And Loyalty: An Empirical Analysis Of Banking Sector In Pakistan, Mohsin Zafar, Sana Zafar, Aasia Asif, Ahmed Imran Hunjra, H. Mushtaq Ahmad

Ahmed Imran Hunjra (PhD)

The Alternative Forms Of Dispute Settlement And The Essential Difference Between These And Arbitration, Michael Diathesopoulos

Michael Diathesopoulos

The paper examines the characteristics of some common alternative forms of dispute settlement and their key differences from arbitration regarding their nature and scope. Its purpose is to explore each mechanism's suitability for specific types of disputes.

Effective Advertising And Its Influence On Consumer Buying Behavior, Ghulam Shabbir Khan Niazi, Javaria Siddiqui, Burhan Ali Shah, Ahmed Imran Hunjra

Ahmed Imran Hunjra (PhD)

Advertising is a way of communication to convince an audience for taking purchase decision about a product or service and delivering information to viewers. This paper examines the relationship between environmental response and emotional response which are independent variables with dependent variable i.e. consumer buying behavior. This research investigates the relationship between the variables involved, by taking the 200 responses in twins’ cities of Pakistan. Findings of this study show the moderate relationship between independent variables and dependent variable. It shows that consumer purchase those brands from which they are emotionally attached. This study reports new results in the field …

Reit White Paper, Frederic Juillet

Frederic Juillet

Subject: Resulting from the recent financial crisis, this white paper discusses how to better defend shareholders’ investments in Real Estate Investment Trusts (REITs) for the long-term and how to reduce volatility in the REITs market.

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.

Intellectual Capital Statement Of A Company Operating In A Made To Measure Industry, Anna Ujwary-Gil

Anna Ujwary-Gil

This article is a case study of a company operating in the MTM (Made to Measure) industry. The main issue of this manuscript is the evaluation and analysis of a company's intellectual capital in three main areas: human capital, structural and relational capital. The starting point was the analysis of the external environment, its opportunities and threats in relation to the identification of the strategic goals of the company. Against the background of these considerations, key business processes and desired business success of a company that contribute to the achievement of defined strategic objectives were identified. The article used the …