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This study aims to apply the modified Walker-Unger model to show the degree of attractiveness of a country for Mexican-based money launderers to send their illicit funds for the 2000–2015 time period.

The modified Walker-Unger model is used to conduct the analysis, as it combines several independent variables related to an illicit financial activity. These allow the researcher to investigate the attractiveness of a market to money launderers and the possible economic effects of money laundering. In total, 13 categories of indicators were used, namely, gross national product per capita; banking secrecy; government attitude; society for worldwide interbank financial telecommunication membership; financial deposits; conflict; corruption; Egmont group membership; language; trade; culture, colonial background; and physical distance.

Model results suggest the preferred destinations for Mexican-based money launderers from 2000 to 2015 were Bermuda (i.e. from 2000–2004), Canada (i.e. in 2005 and 2006) and Monaco (i.e. from 2007–2015).

Timing and availability of reliable data after 2015.

Aids in continuing to empirically validate the Walker-Unger model. There is little literature on models that quantify money laundering activity.

May aid policymakers in targeting anti-money laundering policy to more relevant countries.

The first empirical investigation that looks to quantify money launderer activity in Mexico. Contributes to the limited literature of quantitative investigations on money laundering.

Although economists and academics have studied money laundering for several decades, there continues to be gaps in the research due to a lack of reliable data on money laundering activity, and a lack of detailed sources and methods of collection in government-based reporting. The purpose of this study is to apply the Walker-Unger gravity model and examine US-based money launderer preference for the 2000-2020 time frame. This paper then compares those results with previous applications of the model and identifies trends, which may serve as the foundations of a money launderer preference theory. The results of the investigation ranked countries by preference of US-based money launderers and determined that there was consistency in country destination preference even during recessionary periods.

The Walker–Unger gravity model as applied by Roman et al. (2021) is used to conduct the investigation, to maintain consistency in the application of the Walker–Unger model and further the objective of validating the attractiveness simulation. The model tests the predictive capability of the independent variables to establish the degree of attractiveness each country represents for the funds of US-based money launderers. A score is generated by the model, which is then used to analyze and interpret its significance in relation to all sampled countries.

Model results reveal the countries with the highest attractiveness for US-based money launderers during 2000–2020 were Australia, the Bahamas, Bermuda, Canada, Cayman Islands, Norway, Monaco, Puerto Rico, Switzerland and the USA. Model results show that over the two decades the proportion of money flow scores changed but not to a degree that would alter the country preference of US-based money launderers. US-based money launderers tended to use the same countries for their illicit financial activities, regardless of the state of the legitimate economy.

One of the limitations of the model is that it does not show the effect of money laundering on legitimate economic activity.

The model results will give insight into the preferred destination of US-based money launderers and therefore frame one component of money laundering activities in the USA for the examined time period.

A secondary objective of this study is to evaluate if any changes to US-based money launderer preferences occurred during the three most recent periods of economic downturn in the USA.

The model results will give insight into the preferred destination of US-based money launderers and therefore frame one component of money laundering activities in the USA for the examined time period. A secondary objective of this study is to evaluate if any changes to US-based money launderer preferences occurred during the three most recent periods of economic downturn in the USA. The periods chosen are the 2001 9/11 terrorist attacks, the 2007/08 global financial crisis and the COVID-19 pandemic.

As the Association of Southeast Asian Nations (ASEAN) becomes an emerging market, US investors will want to know how their favorite method of calculating asset pricing fits into this new undeveloped market. Also, as the ASEAN becomes more internationalized, managers within will look for ways in which the capital asset pricing model (CAPM) can be applied for their needs. This research looks at the capabilities of the CAPM using ex-post time varying and compares it with the traditional constant beta model. The data include five US sectors and five ASEAN countries, for 10 total portfolios. Find that using a simple nonparametric method that allows for time variation is not statistically different from the traditional constant beta model for portfolios. This research provides additional support for the constant beta.

This chapter focuses on a critical issue in cyber intelligence in the United States (US) that concerns the engagement of state-owned or state-controlled entities with overseeing citizen’s activity in cyberspace. The emphasis in the discussion is placed on the constitutionality of state actions and the shifting boundaries in which the state can act in the name of security to protect its people from the nation’s enemies. A second piece of this discussion is which state actors and agencies can control the mechanisms by which this sensitive cyber information is collected, stored, and if needed, acted upon. The most salient case with regard to this debate is that of Edward Snowden. It reveals the US government’s abuses of this surveillance machinery prompting major debates around the topics of privacy, national security, and mass digital surveillance. When observing the response to Snowden’s disclosures one can ask what point of view is being ignored, or what questions are not being answered. By considering the silence as a part of our everyday language we can improve our understanding of mediated discourses. Recommendations on cyber-intelligence reforms in response to Snowden’s revelations – and whether these are in fact practical in modern, high-technology societies such as the US – follow.

The purpose of this paper is to examine the relation between audit tenure and how clients manage the annual earnings surprise.

A sample of 5,029 firm‐year observations from 1996 to 2003 were employed to examine whether audit tenure is negatively related to the incidence of accrual‐based‐upward earnings management to avoid negative earnings surprises; and whether audit tenure is positively related to the incidence of downward forecast guidance to avoid negative earnings surprises.

Empirical results indicate a substitution of downward forecast guidance for upward earnings management as audit tenure lengthens.

The paper provides evidence that, as the auditor‐client relationship lengthens over time, firms turn to downward forecast guidance as a substitute for upward earnings management. One possible limitation of the sample period involves the implementation of the Sarbanes‐Oxley Act (SOX) of 2002. Because of the increased financial reporting scrutiny on both management and auditors that accompanies SOX, it is likely that constraints on earnings misstatements increase after SOX. Any decrease in upward earnings management resulting from SOX would thus work against finding a relation between audit tenure and the substitution of downward forecast guidance to prevent negative earnings surprises.

This paper supports the notion that audit tenure affects firms' choices among various tactics in their attempts to avoid negative earnings surprises. The results also contribute to the ongoing debate on mandatory audit firm rotation by showing that audit quality increases with audit tenure.

Supplements the (A) case.

A single conceptualization of mental health based on empirical research has yet to be adopted by researchers and practitioners. This paper aims to explore how diverse Americans define mental health. The aim of the study was to build a conceptualization of the term “mental health”, using qualitative and quantitative methods, on the basis of definitions provided by an ethnically diverse sample of lay-people and professionals.

Concept mapping methods, including multidimensional scaling and hierarchical cluster analysis, were applied to 146 statements generated by 125 participants of diverse American racial and ethnic groups. The resulting concept map was inspected visually, quantitatively and qualitatively.

Out of the 146 statements, 8 overarching themes emerged from multidimensional scaling and hierarchical cluster analysis. Themes include Well-being, balance, coping, adaptability, relational, self, lack of mental illness and physical. T-tests revealed statistically significant differences on ratings of importance for statements within the theme “Lack of Mental Illness” from those included in “Well-Being”, “Balance” and “Coping.” Statements included in the theme “Lack of Mental Illness” were rated least essential to the construct of mental health. The “Self” cluster appeared at the center of the data visualization, suggesting that Americans believe that self is essential to the construct in question.

This mixed-method study is consistent with prior evidence that mental health and mental illness might best be considered separate constructs (Westerhof and Keyes, 2010). A logical follow-up might examine why the concept of “Self” emerges centrally as it would help mental health practitioners and policymakers to focus their understanding of mental health to improve mental health interventions.

Understanding that the concept of “Self” is central to Americans’ conceptualizing of mental health may help mental health practitioners and policymakers to focus their efforts in delivering targeted mental health interventions.