Business Commons^™

Does The Acquirer's Complexity Affect The Market Reaction To M&A Decisions?, Rajib Chowdhury, John A. Doukas

Finance Faculty Publications

We examine whether and how acquiring firms' complexity affects investor perception at the announcement of M&A decisions. Using well-established data of firm complexity developed through combining machine learning and a lexicon of words, we find a significant positive relationship between acquiring firm complexity and cumulative abnormal returns (CAR), indicating that more intricate firms are viewed as more valuable or competent in mergers and acquisitions. This association is stronger for acquirers with high operating risk, organizational capital, R&D intensity, large and independent boards, and larger targets. We also present evidence that high-complexity bidders offer higher takeover premiums. Our study contributes to …

Social And Commercial Crowdfunding Through The Lens Of The Theory Of Planned Behaviour And Financial Well-Being, Joanna Adamska, Urszula Mrzygłód

Journal of Banking and Financial Economics

A unique feature of crowdfunding is that it relies on numerous individuals contributing financially to the project, which sets it apart from traditional financing channels. Unlike banks, where funding decisions are subject to strict prudential criteria and the creditworthiness of the borrowing entity, crowdfunding projects appeal to various worldviews and values held by potential backers. Therefore, the financial decision to support the crowdfunding project becomes a unique problem in personal finance. This study aims to analyse the psychological and financial factors influencing crowdfunding participation, comparing social and commercial projects using the Theory of Planned Behaviour (hereinafter: TPB) and subjective financial …

What Role Do Finance Ministers Play In Political Business Cycles? Evidence-Based On A New African Dataset, Christine Olivia Strong

Economics Faculty Publications

This study investigates how the personal characteristics of finance ministers influence political budget cycles in Africa. Using a new dataset covering 300 finance ministers across 23 countries from 1980 to 2020, we find that political budget cycles primarily take the form of increased government consumption during election years. Ministers with prior central banking experience are less likely to amplify spending in election years, effectively curbing political budget cycles. These results remain consistent after accounting for institutional quality, ministerial tenure, and other confounding factors. The findings contribute to the literature by showing that the appointment of finance ministers in African countries …

Bogging Down Investors: An Unintended Consequence Of Litigation Risk, Siwen Fu, Ke Wang, Liandong Zhang, Liu Zheng

Research Collection School Of Accountancy

Securities litigation risk is a well-recognized yet underexplored source of financial reporting complexity or unreadability. This study examines the effect of litigation risk on the readability of corporate financial reports. The 1999 Silicon Graphics Inc. (SGI) court ruling unexpectedly reduced litigation risk for firms within the Ninth Circuit Court’s jurisdiction. Using a difference-in-differences design centered on the SGI court ruling, we find that, while the readability of financial reports generally declines over the sample period, treated firms in the Ninth Circuit experience a comparatively smaller decline in readability than control firms in other states after the ruling. Put differently, treated …

Athletic Trainers' Perspectives On Resources And Preparation Needed For Successful Salary Negotiation, Kimberly R. Detwiler, Cailee E. Welch Bacon, Indigo B. White, Leanne E. Jones, Julie M. Cavallario

Rehabilitation Sciences Faculty Publications

Context

Many athletic trainers (ATs) work under high stress, long hours, and low pay. These conditions often lead ATs and athletic training students to leave the profession. Previous studies show that over half of ATs do not negotiate salary, often because they feel the offer is fair or fear losing the job. Additional support is needed to help ATs prepare for negotiations, as current resources are limited.

Objective

This study explored ATs’ views on the resources need to prepare for salary negotiations during the hiring process.

Design

Consensual qualitative research.

Setting

Individual video interviews.

Patients or Other Participants

Twenty-eight participants …

Analysis Of Safety Investment : Economic Benefit In Arctic Shipping To Shipping Companies And The Arctic Coastal States, Junjie Wan

World Maritime University Ph.D. Dissertations

Global warming severely affects the Arctic region, including ice coverage and thickness. In contrast, it allows unprecedented navigation opportunities for more extended periods each year, attracting maritime stakeholders because of the potential distance reduction compared to shipping corridor routes. However, mitigating Arctic navigation hazards requires safety investments, especially from shipowners and Arctic coastal states. When allocating limited resources to safety, decision-makers should efficiently prioritize their investments. This research aims to determine how to optimize shipping companies and Arctic coastal states’ safety investments. It begins with a comprehensive analysis of safety investments and safety economic benefits in Arctic shipping. Then, an …

Economic Behavior And Policy Distortions: Evidence From Firms And Households, Seth Joseph Carter

Graduate Theses, Dissertations, and Problem Reports (ETD)

In Chapter 1, I reopen the question of whether U.S. firms experience effective tax decreases directly resulting from federal lobbying expenditures by introducing more rigorous causal-inference testing. I first model lobbying as a productive input for the legislator, affecting firm tax outcomes by influencing the share of scarce legislative attention afforded to industry tax priorities. Using multi-industry, firm-level data from 2007 to 2022, I exploit percentage changes in non-industry lobbying as a proxy for political competition facing firms through a novel application of Bartik, shift-share instrumental variable estimation and two-stage residual inclusion. Effects of induced firm lobbying shifts on reported …

Correlate Of Savings Attitude And Generational Poverty As Mediated By Financial Literacy: Evidence From Ghana, Adu Bismark Owusu-Sekyere, Williams Kwasi Peprah [email protected]

Faculty Publications

This study examines the mediating role of financial literacy between savings attitudes and generational poverty in Ghana. Generational poverty is a significant issue in Ghana, with a multidimensional poverty rate of 45.6% and a consumer expenditure poverty rate of 23.4%. The problem persists due to low financial literacy and poor savings attitudes, which hinder economic growth and development. The research employed a quantitative methodology, utilizing a series of regression analyses to test the mediation effects of financial literacy. A correlational design was adopted to assess the relationships between the variables. The study’s population included 400 individuals from the five regions …

Perlakuan Akuntansi Terhadap Pendapatan Dari Kontrak Dengan Pelanggan Pada Pt Svt Berdasarkan Psak 115, Michelle A. Ronauli, Arthaingan H. Mutiha

Jurnal Administrasi Bisnis Terapan

This study aims to discuss the application of PSAK 115 in recognizing revenue from customer contracts at PT SVT, a company operating in the oil and gas industry. PT SVT's revenue is derived from contracts with customers, requiring the implementation of PSAK 115 in the preparation of its financial statements. PSAK 115 establishes five (5) steps in revenue recognition from contracts, including contract identification, performance obligation determination, transaction price allocation, allocation of price to performance obligations, and revenue recognition upon fulfillment of obligations. This research employs a qualitative method with a field study and literature review approach, using the 2023 …

Pengaruh Religiusitas Terhadap Intensi Boikot Mahasiswa Ui Untuk Produk Terafiliasi Israel, Muhammad Haiqal Fauzi, Rifkanissa Azzahra, Raditya Akhdan Nirwasita, Muhammad Izzan

Jurnal Manajemen dan Usahawan Indonesia

This study aims to analyze the factors influencing students at Universitas Indonesia (UI) in participating in the boycott movement against products affiliated with Israel. Data were collected through an online survey of 408 UI students from the 2021–2024 cohorts. The sample was selected using the purposive sampling method. Analysis using Covariance-Based Structural Equation Modeling (CB-SEM) demonstrates that anger, empathy, and subjective norms have a positive and significant impact on boycott intentions, while religiosity is not significant. Economic threats are found to increase anger, which in turn drives boycott intentions. These findings emphasize that emotional factors and social pressure play a …

Literacy Story Mapping: Empowering Bogoran Hamlet In Indonesia Through Among E3cho Program, Luky Tiasari, Shanta Rezkita, Vita Tri Wahyuni, Deyas Fito Nurochman, Annisa Hapsari, Dwi Setiawan

ASEAN Journal of Community Engagement

This paper outlines the implementation of Among Education, Environment, Economic, Culture, Healthy, and Outcome (Among E³CHO), a community engagement program in Bogoran Hamlet in Trirenggo Region of Bantul Regency, Yogyakarta, Indonesia. Among E³CHO initiative consists of multiple education, environment, economic, culture, and health engagement sessions aimed at generating a literacy story map, Peta Cerita Berliterasi, as an integrated outcome of community capacities. The program development followed community-based research methodologies, starting with the identification of challenges facing by the community using comprehensive questionnaires, followed by multiple community engagement programs. In the program, the health …

Behavioral Accounting As A Catalyst In The Organizational Transformation Process Toward Sustainability, Ni Wayan Yellow Prinsis Dayani, I Gusti Ayu Nyoman Budiasih

Jurnal Akuntansi dan Keuangan Indonesia

This research investigates the role of behavioral accounting as a catalyst in the organizational transformation process towards sustainability using phenomenological methods. The study aims to explore how behavioral accounting identifies individual behavioral factors, designs efficient sustainability systems, and enhances organizational commitment to sustainable practices. The research employs observation, secondary data analysis, and semi-structured interviews with organizational internal team, analyzed through Interpretative Phenomenological Analysis (IPA). Findings indicate that behavioral accounting contributes to organizational sustainability by enhancing transparency in accounting information, thereby minimizing the risk of fund misuse and ensuring efficient resource allocation. This research supports behavioral accounting as pivotal in shaping …

Takaful Insurance Industries In Supporting Sustainable Socio-Economic Development In Indonesia, Fera Widyanata, Rasyida Pertiwi, Ahmad Syathiri

Journal of Global Awareness

Over the past four years, the demand for Takaful (Islamic insurance) among Indonesians has risen. Health Takaful has emerged as the most popular, followed by educational Takaful. Health and education are parts of the Human Development Index (HDI) and are closely related to building a stronger foundation for Indonesia's economic development. This study aims to enhance the Islamic finance ecosystem's impact on achieving SDGs, focusing on health (SDG 3), education (SDG 4), and economic growth (SDG 8), which are crucial for Indonesia's development. It discovers a causal relationship between the takaful industry and improvements in the health sector and …

The Mediation Of Financial Behavior To Financial Literacy And Spending Habits Of Gen Z: An Exploratory Factor Analysis, Joel Mark Rodriguez, Del Carmen Labong, Lourdes Palallos

Journal of Global Awareness

The study aims to explain the relationship of financial literacy with spending habits and behavior. Financial behavior is a mediator of Generation Z. Financial literacy is a very important dimension in making financial decisions, and this research highlighted the direct and indirect impacts that financial literacy exerts on spending behavior. Data is collected from 317 respondents using a structured questionnaire measuring financial literacy, financial behavior, and spending behavior. Correlation, regression, mediation analysis, and Structural Equation Modeling have been used in evaluating these relationships. Financial literacy directly reflects a strong relationship with spending behavior, and its coefficient is 1.167. Financial behavior, …

Brexit And The Spillover Phenomenon: Scotland, Northern Ireland, And Gibraltar, Timea Varga

Journal of Global Awareness

In my research, I examined the consequences of Brexit and the spillover phenomenon. Even though the United Kingdom left the European Union on 31 December 2020 with a deal, the resulting challenges are not solved at all in 2024 either – Brexit has brought to the surface such conflicts that London considered dealt with a long time ago. However, questions of autonomy and independence are not so easy to resolve; they have their roots in history, and in this uncertain situation, they came to the fore again.

Northern Ireland, Gibraltar, and Scotland have always meant sources of conflict for the …

Notes From The Editor, Jay Nathan

Journal of Global Awareness

No abstract provided.

Letter From The Editor, Jay Nathan

Journal of Global Awareness

No abstract provided.

Lessons Learned: Karl-Philipp Wojick, Maryann Haggerty

Journal of Financial Crises

Karl-Philipp Wojcik is the general counsel of the European Union’s Single Resolution Board (SRB), the central resolution authority within the European Commission (EC) banking union. The banking union, which as of January 1, 2023, encompasses the 20 eurozone countries, along with Bulgaria, was established as part of the financial system reforms stemming from the Global Financial Crisis and the ensuing European sovereign debt crisis. The SRB’s stated mission is to ensure orderly resolution of failing banks, protect taxpayers from state bailouts, and promote financial stability. Wojcik became SRB general counsel in November 2020. Previously, he was a member of the …

Lessons Learned: Subba Rao Duvvuri, Salil Gupta

Journal of Financial Crises

Subba Rao Duvvuri served as governor of the Reserve Bank of India (RBI) for five years (2008–13). Before that, he was finance secretary to the government of India (2007–08), and secretary to the prime minister’s Economic Advisory Council (2005–07). With a career spanning 35 years in the Indian Administrative Services, Duvvuri has held various positions at the state level in the government of Andhra Pradesh, and at the central government of India. Duvvuri was previously lead economist at the World Bank (1999–2004) and, after 2013, served as a visiting fellow at the National University of Singapore and the University of …

Lessons Learned: Calvin Mitchell Iii, Mercedes Cardona

Journal of Financial Crises

Calvin Mitchell III served as executive vice president of the communications group within the executive office of the Federal Reserve Bank of New York (FRBNY) during the Global Financial Crisis. In 2008, Mitchell was tapped by Timothy Geithner, who was then FRBNY president, to head a new group charged with expanding the communications and community affairs functions. Mitchell left the FRBNY in 2009 for the private sector and returned to government in 2021 as assistant secretary for public affairs in the US Treasury Department.

International Monetary Fund: Special Drawing Rights Allocations, 2009, Ikbal S. Ahluwalia, Owen Heaphy, Rosalind Z. Wiggins

Journal of Financial Crises

Despite efforts by the world’s major economies to address stresses in the global financial system, by early 2009, the Global Financial Crisis caused developing and lower-income countries to experience shortages of the major reserve currencies. In August 2009, the International Monetary Fund (IMF) distributed a general allocation of Special Drawing Rights (SDR) of unprecedented size—totaling USD 250 billion (SDR 161.3 billion)—to all member countries in an effort to address these issues and provide liquidity to the world’s economies. In September 2009, it also distributed a special “catch-up” allocation of USD 33 billion in SDRs (SDR 21.5 billion) to eligible members …

Lessons Learned: Jason Cave, Vincient Arnold, Greg Feldberg

Journal of Financial Crises

Jason Cave was the senior adviser to the chairman of the Federal Deposit Insurance Corporation (FDIC) from 2008 to 2011 and the deputy director of the Division of Complex Financial Institutions at the FDIC from 2011 to 2013. This Lessons Learned summary is based on an interview with Cave held on April 8, 2024. During the interview, Cave discussed the so-called ring-fencing arrangements planned, considered, or executed between various agencies of the US government—the Federal Reserve, Department of the Treasury, and FDIC—and three banks: Wachovia, Citigroup, and Bank of America. These arrangements, sometimes referred to as wraps or risk shields, …

International Monetary Fund: Short-Term Liquidity Line, 2020, Carey K. Mott, Léo Brougher

Journal of Financial Crises

As the COVID-19 pandemic spread in March 2020, global financial conditions tightened considerably. In response, global reserve currency-issuing countries extended bilateral swap lines to select countries. Strong demand for US dollar liquidity among emerging markets led the International Monetary Fund (IMF) to introduce the Short-Term Liquidity Line (SLL) on April 15, 2020. The SLL functioned as a swap lending facility. Unlike other IMF liquidity tools, the SLL was a revolving credit line that allowed countries to repeatedly draw funds and make repayments, with each repayment restoring access up to the approved limit across SLL arrangements. Its purpose was to enable …

International Monetary Fund: Foreign Exchange Liquidity Through The Special Drawing Rights Allocation, 2021, Vincient Arnold

Journal of Financial Crises

The official response to the COVID-19 pandemic was costly for governments, particularly those in developing economies with significant existing external debt. On August 2, 2021, the International Monetary Fund (IMF) announced in a press release the allocation of SDR 456 billion (USD 650 billion) in Special Drawing Rights (SDRs) to “address the long-term global need for reserves, build confidence, and foster the resilience and stability of the global economy.” The COVID-19 allocation was a form of unconditional (or “concessional”) liquidity to IMF member nations, similar to a capital injection or grant. It was the fourth-ever general allocation and the largest …

Strategi Pemenuhan Pemeriksa Di Lembaga Internasional Pada Badan Pemeriksa Keuangan, Afrizal Afrizal

Jurnal Administrasi Bisnis Terapan

This research aims to analyze the factors that are considered in the selection of auditors in carrying out audit assignments in international institutions and formulate strategies for the fulfillment of employees for audits in international institutions at The Audit Board of The Republic of Indonesia. The research was carried out at the Audit Board of the Republic of Indonesia at the Human Resources Bureau. This research is intended to formulate more effective and efficient policies in human resource management, especially the management of auditors in The Audit Board of The Republic of Indonesia.

The author uses several theories related to …

Between The Satirical And The Sectarian: Review Of The Film Kneecap (2024), Alan Bradshaw

Markets, Globalization & Development Review

No abstract provided.

Protection Of Trade Secrets In Global Markets And International Business: Implications For Labor Relations, Oleg M. Yaroshenko, Oleksii Tykhonovych, Yaroslav Kostohryz, Yuliia Ivchuk, Dmytro Sirokha

Markets, Globalization & Development Review

Against the background of globalization and the constant evolution of economic relations, the protection of trade secrets in labor relations becomes a necessity to ensure the sustainable competitiveness of enterprises in the international market. This article analyzes the multifaceted dimensions of trade secret protection, covering global business strategies, intercultural labor practices, international economic relations, and public policy fundamentals. Through the analysis of international agreements such as the TRIPS Agreement and the European Union Directive on Non-Competition Provisions, the article explores how various legal systems address trade secrets in labor relations, emphasizing the need for global harmonization. It also considers cultural …

Institutions Matter: How So?, Alper Duman

Markets, Globalization & Development Review

This paper examines the influential theory of Daron Acemoglu, Simon Johnson, and James Robinson (AJR) on the role of institutions in economic development, highlighting its strengths, limitations, and areas for further research. A central contribution of their work is the emphasis on power and conflict in institutional formation and change.

The theory's focus on the interplay between inequality, political power, and institutional change provides a valuable framework for understanding development trajectories. This paper also considers critiques of AJR's work, including the lack of robustness of the positive correlation between inclusive institutions and economic performance in lower-income countries and the significant …

Potential Impact Of Artificial Intelligence On Small And Medium Enterprises Innovation In The Eu: A Perspective From Poland, Malgorzata Wilczynska, Alina Walenia, Artur Dabek, Daniel Salabura, Halina Kot

Markets, Globalization & Development Review

The development of small and medium-sized enterprises is a complex process that requires the use of all approaches to achieve success. In this regard, finding opportunities to use artificial intelligence in such companies is of great importance. The study aims to assess how this technology affects the innovation and financial performance of small and medium-sized enterprises. To draw the main conclusions, the implementation of artificial intelligence at Polish enterprises, including in the context of their financial performance, namely the level of return on assets and the level of debt, was analysed. The study showed that the introduction of artificial intelligence …

The Global Tour Continues: Poland, Ukraine, Ireland, Turkey, And More, Nikhilesh Dholakia, Zeynep Ozdamar Ertekin, Delphine Godefroit-Winkel, Deniz Atik

Markets, Globalization & Development Review

No abstract provided.