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Full-Text Articles in Finance and Financial Management

Accountability In The Church, Professor Ben C Osisioma Aug 2013

Accountability In The Church, Professor Ben C Osisioma

Prof Ben Chuka Osisioma

Traditionally, accountability is the obligation to give a reckoning or explanation for one’s actions and responsibilities to a higher authority. However, for the purpose of this paper, we define accountability as the processes through which an organisation makes a commitment to respond to and balance the needs of stakeholders in its decision making processes and activities, and delivers against this commitment. In the church setting accountability involves managing the resources God has entrusted us with, organising for service and mission, and providing programmes to carry out the church’s mandate. The goal is to help people grow in Christ and learn …


The Alternative Forms Of Dispute Settlement And The Essential Difference Between These And Arbitration, Michael Diathesopoulos Mar 2012

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.


Ownership Unbundling In European Energy Market & Legal Problems Under Eu Law, Michael Diathesopoulos Sep 2011

Ownership Unbundling In European Energy Market & Legal Problems Under Eu Law, Michael Diathesopoulos

Michael Diathesopoulos

In this paper we will examine the issue of ownership unbundling and forced divestiture remedies imposed in a series of recent competition law cases of the energy market - examined in other papers - in relation to the possible existence of a series of legal obstacles. These energy market decisions belong to a group of antitrust cases in which a structural divestiture remedy has been imposed under the provisions of Article 9 of Regulation 1/2003. This divestiture refers to transmission networks and to generation capacity and is meant to lead to severe structural changes, which are compatible with the findings …


Competition Law And Sector Regulation In The European Energy Market After The Third Energy Package: Hierarchy And Efficiency, Michael Diathesopoulos Apr 2011

Competition Law And Sector Regulation In The European Energy Market After The Third Energy Package: Hierarchy And Efficiency, Michael Diathesopoulos

Michael Diathesopoulos

The aim of this research is to provide the basic parameters for a model for the definition of the relation between the general competition and sector specific frameworks and rules regarding the regulation of the Internal Energy Market, especially after the Third Energy Package. The research considers the recent sector specific framework in relation to a series of recent competition law cases of the Energy Market where structural remedies were applied under the commitments procedure. Essential facilities doctrine and generally competition law tools do not seem to provide a suitable framework for effectively addressing the dynamic competition concept, treating the …


Capture In Financial Regulation" Can We Channel It Toward The Common Good?, Lawrence G. Baxter Jan 2011

Capture In Financial Regulation" Can We Channel It Toward The Common Good?, Lawrence G. Baxter

Lawrence G. Baxter

“Regulatory capture” is central to regulatory analysis yet is a troublesome concept. It is difficult to prove and sometimes seems refuted by outcomes unfavorable to powerful interests. Nevertheless, the process of bank regulation and supervision fosters a closeness between regulator and regulated that would seem to be conducive to “capture” or at least to fostering undue sympathy by regulators for the companies they oversee. The influence of very large financial institutions has also become so great that financial regulation appears to have become excessively distorted in favor of these entities and to the detriment of many other legitimate interests, including …


From Energy Sector Inquiry To Recent Antitrust Decisions In European Energy Markets: Competition Law As A Means To Implement Energy Sector Regulation In Eu, Michael Diathesopoulos Jul 2010

From Energy Sector Inquiry To Recent Antitrust Decisions In European Energy Markets: Competition Law As A Means To Implement Energy Sector Regulation In Eu, Michael Diathesopoulos

Michael Diathesopoulos

This paper presents the conceptual path followed by European Union, European Commission and European Competition Network, after the Energy Sector Inquiry (2007) towards the realisation of the objective of an Energy Internal Market, fully functional and open to competition. Firstly, we examine the findings of Sector Inquiry and then we describe how the Third Energy Package - that followed - tried to address the issues highlighted by the Inquiry and how Third Energy Package introduces a promising but complex system, in order to develop sector rules. Following the above, we proceed to a brief but close examination of 10 recent …


Relational Contract Theory And Management Contracts: A Paradigm For The Application Of The Theory Of The Norms, Michael Diathesopoulos Jun 2010

Relational Contract Theory And Management Contracts: A Paradigm For The Application Of The Theory Of The Norms, Michael Diathesopoulos

Michael Diathesopoulos

This paper examines management contracts as a paradigm for the application of relational contracts theory and especially of the theory of contractual and relational norms. This theory, deriving from Macauley's implications, but structured and analysed by I.R. MacNeil gives us a framework for the explanation and understanding of contractual obligations and business relations' rules and practice. After presenting the key literature about the norms theory and especially defining the content of MacNeil's norms, we define management contracts as relations, characterised by a high relational element and we explain why, investigating all their features, which make them a suitable object for …


Adjustment Costs, Errors In Risk Weights, And Banks' Balance Sheets: The 1988 Basel Accord Revisited, Kevin T. Jacques, Elva Coadari, John Thornton Jan 2010

Adjustment Costs, Errors In Risk Weights, And Banks' Balance Sheets: The 1988 Basel Accord Revisited, Kevin T. Jacques, Elva Coadari, John Thornton

Kevin T Jacques

In the context of a profit-maximization model that recognizes both non-homogeneous adjustment costs and errors in risk weights, this paper examines the question of why different banks exhibited different responses to implementation of the 1988 Accord.


Procyclicality, Bank Lending, And The Macroeconomic Implications Of A Revised Basel Accord, Kevin T. Jacques Jan 2010

Procyclicality, Bank Lending, And The Macroeconomic Implications Of A Revised Basel Accord, Kevin T. Jacques

Kevin T Jacques

No abstract provided.


The Defense-Growth Relationship: An Economic Investigation Into Post-Soviet States, Bruce D. Mcdonald Iii, Robert J. Eger Iii Jan 2010

The Defense-Growth Relationship: An Economic Investigation Into Post-Soviet States, Bruce D. Mcdonald Iii, Robert J. Eger Iii

Bruce D. McDonald, III

An important question stemming from the collapse of the Soviet Union is how defense spending has influenced the economic performance of the 15 member states since their establishment as market economies. This study furthers the understanding of the relationship between defense spending and economic growth using data from the states of the former Soviet Union from 1992 to 2007. A nonlinear production function was used for direct effects, and models of investment and employment were employed for indirect effects. Contrary to expectations, the findings show that continued reliance on the defense sector in post-Soviet states has helped overall economic growth. …


Gold In China's Golden Hills, Lynette H. Ong Jan 2009

Gold In China's Golden Hills, Lynette H. Ong

Lynette H Ong, Dr

No abstract provided.


The International Transmission Of Capital Shocks: Implications Of A Revised Basel Accord For Developing Countries, Kevin T. Jacques Jan 2005

The International Transmission Of Capital Shocks: Implications Of A Revised Basel Accord For Developing Countries, Kevin T. Jacques

Kevin T Jacques

No abstract provided.


Bank Lending And The Effectiveness Of Monetary Policy Under A Revised Basel Accord, Kevin T. Jacques, David Schirm Jan 2004

Bank Lending And The Effectiveness Of Monetary Policy Under A Revised Basel Accord, Kevin T. Jacques, David Schirm

Kevin T Jacques

No abstract provided.


An Application Of Unit Root Tests With A Structural Break To Risk-Based Capital And Bank Portfolio Composition, Kevin T. Jacques Jan 2003

An Application Of Unit Root Tests With A Structural Break To Risk-Based Capital And Bank Portfolio Composition, Kevin T. Jacques

Kevin T Jacques

No abstract provided.


The Impact Of Fdicia And Prompt Corrective Action On Bank Capital And Risk: Estimates Using A Simultaneous Equations Model, Kevin T. Jacques, Raj Aggarwal Jan 2001

The Impact Of Fdicia And Prompt Corrective Action On Bank Capital And Risk: Estimates Using A Simultaneous Equations Model, Kevin T. Jacques, Raj Aggarwal

Kevin T Jacques

This paper develops and estimates a 3SLS model to examine the simultaneous impact of PCA on both bank capital and credit risk.


Contagion Effects, Macroeconomic Conditions, And The Design Of Regulatory Capital Standards, Kevin T. Jacques, Stephen Hiemstra Nov 2000

Contagion Effects, Macroeconomic Conditions, And The Design Of Regulatory Capital Standards, Kevin T. Jacques, Stephen Hiemstra

Kevin T Jacques

No abstract provided.


Financial Turmoil, Failed Bank Acquistions, And Bank Business Lending Behavior, Kevin T. Jacques, Peter Nigro Jan 2000

Financial Turmoil, Failed Bank Acquistions, And Bank Business Lending Behavior, Kevin T. Jacques, Peter Nigro

Kevin T Jacques

No abstract provided.


Assessing The Impact Of Prompt Corrective Action On Bank Capital And Risk, Kevin T. Jacques, Raj Aggarwal Jan 1998

Assessing The Impact Of Prompt Corrective Action On Bank Capital And Risk, Kevin T. Jacques, Raj Aggarwal

Kevin T Jacques

No abstract provided.


Risk-Based Capital, Portfolio Risk, And Bank Capital: A Simultaneous Equations Approach, Kevin T. Jacques, Peter Nigro Jan 1997

Risk-Based Capital, Portfolio Risk, And Bank Capital: A Simultaneous Equations Approach, Kevin T. Jacques, Peter Nigro

Kevin T Jacques

This paper examines the impact the risk-based capital standards had on bank capital and portfolio risk during the first year the risk-based standards were in effect.