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Article
Publication date: 31 March 2020

David Mathuva, Samuel Kiragu and Dulacha Barako

This study aims to examine the extent and drivers of anti-money laundering (AML) disclosures in the audited annual reports of regional listed banks in Kenya.

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Abstract

Purpose

This study aims to examine the extent and drivers of anti-money laundering (AML) disclosures in the audited annual reports of regional listed banks in Kenya.

Design/methodology/approach

Using the Financial Action Task Force recommendations and other guidelines, the authors develop an AML disclosure index that is used to score the extent of AML disclosures by banks. A sample of 15 listed regional banks in Kenya over the period of 2007-2017 is used. Using this sample, the authors performed fixed-effects regressions to identify the significant determinants of AML disclosures.

Findings

The study establishes a low level of AML disclosures in the audited annual reports of sampled banks. The extent to which the AML disclosures improved across three distinct regulatory regimes over the period of 2007-2017 is reported. The authors find that the AML disclosures are largely driven by corporate governance (board size and audit committee size) and the ratio of diaspora remittances to GDP.

Practical implications

Owing to the global nature of money laundering activities, the study suggests that the Central Bank of Kenya needs to internationalize AML regulations and follow internationally accepted best practices in AML to respond to emerging trends in money laundering and related crimes.

Originality/value

To the best knowledge of the researchers, this is perhaps the first study to examine the drivers of AML disclosures by banks in a developing economy in the East and Southern African region. Given the global nature of money laundering, the study makes an important and original contribution to the body of knowledge with potential for replication in other jurisdictions. The findings will also form a basis for developing an AML reporting or disclosure framework.

Details

Journal of Money Laundering Control, vol. 23 no. 3
Type: Research Article
ISSN: 1368-5201

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Article
Publication date: 20 February 2017

Adan Guyo Shibia and Dulacha Galgallo Barako

The purpose of this paper is to investigate the effects of investment climate and firm-specific variables on the growth of micro and small enterprises (MSEs) in Kenya.

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Abstract

Purpose

The purpose of this paper is to investigate the effects of investment climate and firm-specific variables on the growth of micro and small enterprises (MSEs) in Kenya.

Design/methodology/approach

The paper utilized a cross-section survey data of 2,536 MSEs in Kenya. Using the sales growth as the dependent variable, the paper tests the hypotheses that investment climate variables – entrepreneur perception of fairness and affordability of the courts in dealing with commercial disputes, access to formal credit, connections to utilities, crime incidences; and firm-specific resources affect MSE growth.

Findings

Positive entrepreneur perception of the fairness and affordability of the courts, access to formal credit, connections to utilities, lower incidences of crime, entrepreneur education and experience positively affect MSE growth.

Research limitations/implications

Although the context of the study is Kenya, the study has relevance to other developing countries especially Sub-Saharan Africa due to institutional similarities. The paper, however, uses cross-sectional data, which unlike panel data, do not allow for establishing dynamic relationships. This could be a potential area for further research.

Originality/value

The paper is among the first to establish effects of entrepreneur perception on MSE growth with regards the court system in dealing with business disputes in terms of fairness, timeliness, affordability and enforcement. The paper also extends limited extant research on MSE growth constraints with regards to incidences of insecurity, access to bank credit, connections to utilities and internal resources.

Details

Journal of Small Business and Enterprise Development, vol. 24 no. 1
Type: Research Article
ISSN: 1462-6004

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Book part
Publication date: 27 January 2014

Ionel-Alin Ienciu

The purpose of this chapter is to contribute to the understanding of environmental reporting differences in the case of Romanian entities. In order to achieve this purpose, we…

Abstract

Purpose

The purpose of this chapter is to contribute to the understanding of environmental reporting differences in the case of Romanian entities. In order to achieve this purpose, we analyze environmental reporting differences for Romanian listed companies using legitimacy theory as a theoretical background.

Design/methodology/approach

We conduct a quantitative research on the Romanian entities listed on the Bucharest Stock Exchange (BSE).

Findings

The quality and quantity of environmental information reported by Romanian company still suffer from irrelevancy and incompleteness. The factors explaining the variation of environmental reporting in the case of Romanian listed companies are the export sales percentage, the BSE category, and size of the company, which demonstrate that larger companies tend to disclose more environmental information to respond to the pressure and to maintain their legitimacy.

Research limitations/implications

The present study uses the content analysis as a research technique of 64 annual reports of Romania listed entities on the BSE. In this regard, a limitation of the study can be the sample size that can be extended and also the content analysis that can be considered subjective.

Practical and social implications

The chapter is of interest to anyone involved in the process of environmental disclosure, either as entity or other stakeholders.

Originality/value

The chapter supplements previous studies regarding environmental disclosure and the theories or factors that can explain environmental reporting differences.

Details

Accounting in Central and Eastern Europe
Type: Book
ISBN: 978-1-78190-939-3

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Article
Publication date: 9 January 2007

Mitch Van der Zahn, Mikhail I. Makarenko, Greg Tower, Alexander N. Kostyuk, Dulacha Barako, Yulia Chervoniaschaya, Alistair M. Brown and Helen Kostyuk

This paper seeks to provide a textual analysis of the anti money laundering practices of the central banks of Australia (Reserve Bank of Australia (RBA)) and Ukraine (National…

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Abstract

Purpose

This paper seeks to provide a textual analysis of the anti money laundering practices of the central banks of Australia (Reserve Bank of Australia (RBA)) and Ukraine (National Bank of Ukraine (NBU)).

Design/methodology/approach

The analysis is performed two ways by both calculating a disclosure index and through use of textual analysis.

Findings

The results show very low levels of anti money laundering disclosures by both NBU and RBA with NBU usually showing more. Textual analysis reveals that the NBU is prepared to internalise its discussion on anti‐money laundering discussing wide‐ranging topics. There appears to be a concerted communication effort by NBU to tackle the issues of money laundering head‐on. Textual analysis of the RBA's four annual reports show a clipped discourse on anti‐money laundering, treating it as if it were a distant concern. Over the four year period, there is little acknowledgement in the way of RBA textual discourse that Australia is a jurisdiction of primary concern.

Originality/value

The value of this paper is that, it emphasizes that, if the globalised activity of money laundering is to be crushed further energies are needed to woo central banks from varied backgrounds into exerting their considerable resources toward anti‐money laundering enforcement.

Details

Journal of Money Laundering Control, vol. 10 no. 1
Type: Research Article
ISSN: 1368-5201

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Article
Publication date: 10 October 2019

Abdur Rouf and M. Akhtaruddin

This study aims to investigate the extent and nature of corporate governance reporting (CGR) in corporate annual reports of Bangladesh. The aim of the study to test empirically…

341

Abstract

Purpose

This study aims to investigate the extent and nature of corporate governance reporting (CGR) in corporate annual reports of Bangladesh. The aim of the study to test empirically the relationship between corporate governance (CG) and CGR by the listed companies in Bangladesh. The CG examined the proportion of independent directors, board leadership structure, board size, ownership structure and audit committee size.

Design/methodology/approach

The study is based on a sample of 86 listed non-financial companies in Dhaka stock exchanges (DSE) from the period of 2015-2017 and all the companies are selected by judgment Sampling. The study has been used as an unweighted relative disclosure index for measuring CGR.

Findings

The empirical results indicate that board leadership structure (BLS) is positively associated with the level of CGR. In contrast, the percentage of equity owned by the insiders to all equity of the firm is negatively associated with the level of CGR.

Practical implications

Findings of this study have important implications for regulatory authority, enforcement agencies such as Institute of Cost and Management Accountants of Bangladesh, Institute of Chartered Accountants of Bangladesh, Bangladesh Securities and Exchange Commission, DSE, policymakers, shareholders and others who have an interemaammast in CG.

Originality/value

Finding of the study will be a benchmark for policymakers and implementers in torching the avenues of improvement in raising the level of CG reporting.

Details

International Journal of Ethics and Systems, vol. 36 no. 1
Type: Research Article
ISSN: 2514-9369

Keywords

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