Search results

1 – 10 of over 12000
Per page
102050
Citations:
Loading...
Access Restricted. View access options
Book part
Publication date: 16 November 2006

Scott A. Redenius

Regional rates of return in the United States differed widely following the Civil War and some differences persisted until well after World War II. Our understanding of the…

Abstract

Regional rates of return in the United States differed widely following the Civil War and some differences persisted until well after World War II. Our understanding of the evolution of short-term interest rates is based primarily on portfolio rates of return estimated from bank accounting data. This paper uses new national bank loan rate series for 1887–1975 to present a revised view of the evolution of regional short-term interest rates. Two findings are of particular interest. The organization of the Federal Reserve System was accompanied by significant convergence in regional bank loan rates. Rates in the postbellum South were lower than previously thought.

Details

Research in Economic History
Type: Book
ISBN: 978-0-76231-344-0

Access Restricted. View access options
Article
Publication date: 17 October 2008

Antonios Antoniou, Yilmaz Guney and Krishna Paudyal

This paper aims to investigate the determinants of choice between private and public debt for British and German listed companies.

4957

Abstract

Purpose

This paper aims to investigate the determinants of choice between private and public debt for British and German listed companies.

Design/methodology/approach

The paper is based on three strands of theories: the “liquidation and renegotiation” hypothesis; the “moral hazard and adverse selection” hypothesis; the “flotation cost” hypothesis. The regression analysis was adopted to test these hypotheses. The specific econometric method used for panel data is generalised method of moments (GMM).

Findings

The evidence records a few similarities in debt‐mix structure of German and UK firms but it also detects some important differences. Therefore, the paper concludes that the relation between dependent and explanatory variables is country‐dependent. This can be attributed to the differences in corporate governance mechanisms and institutional features of the countries.

Research limitations/implications

The limitation mainly has come from data unavailability for public debt. Future research could be to extend the number of countries to have a better idea for the impact of institutional factors on corporate debt‐mix.

Practical implications

The findings confirm that the debt ownership decision of listed firms is not only the result of their own characteristics but also the outcome of legal and financial environment and corporate governance traditions in which they operate. The way managers decide about the type of debt financing is not universal. Furthermore, the factors such as liquidation and renegotiation, moral hazard and adverse selection, flotation costs are found to be significantly relevant while deciding the mix of corporate debt.

Originality/value

This study offers a unique comparison of the evidence from a bank‐based economy (Germany) and a market‐based economy (UK) that should have direct implications on the choice between bank debt and public debt. Firms with a long‐run debt ownership target attain it through an adjustment process. The authors are not aware of any other study on debt ownership that controls for endogeneity using the GMM technique.

Details

Managerial Finance, vol. 34 no. 12
Type: Research Article
ISSN: 0307-4358

Keywords

Access Restricted. View access options
Article
Publication date: 5 February 2024

Ari Budi Kristanto and June Cao

This systematic literature review presents the evolution of accounting-related research in the Indonesian context. We examine 55 academic articles from the initial 296 records of…

352

Abstract

Purpose

This systematic literature review presents the evolution of accounting-related research in the Indonesian context. We examine 55 academic articles from the initial 296 records of accounting and finance research in the Q1 Scopus-indexed journals from 1995 to 2022. This study sheds light on Indonesia’s main research streams, unique settings and urgent future research agenda.

Design/methodology/approach

This study adopts a systematic approach for a comprehensive literature review. We select articles according to a series of criteria and compile the metadata for the bibliographic mapping.

Findings

Our bibliometric analysis suggests five main research streams, namely (1) political connection, (2) capital market, (3) audit and accountability, (4) firm policy and (5) banking. We identify the following distinctive country settings, which are well discussed in extant literature: political connection, two-tier board system, weak accounting profession, information opacity and cultural impact on accounting. We outline prospective agendas to examine the institutional mechanisms’ role in addressing major environmental challenges through accountability.

Originality/value

This study offers unique contributions to the literature by comprehensively reviewing accounting-related research in Indonesia. Despite Indonesia’s economic and environmental importance, it has received limited attention from scholars. Using dynamic topic analysis, we highlight the need to examine the role of informal institutions, such as political connections and culture and formal institutional mechanisms, such as corporate governance and environmental disclosure.

Details

Journal of Accounting Literature, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0737-4607

Keywords

Access Restricted. View access options
Article
Publication date: 8 February 2021

Antonio Zerafa, James Banks and Jaime Waters

The purpose of this paper is to explore the challenges of countering fraud in Malta’s remote gaming industry.

325

Abstract

Purpose

The purpose of this paper is to explore the challenges of countering fraud in Malta’s remote gaming industry.

Design/methodology/approach

Six individuals from three major stakeholders in Malta’s remote gaming industry were interviewed for this study.

Findings

The interviewees report that a multitude of fraudulent activities are present in Malta’s remote gaming industry. This includes identity fraud, credit card fraud, bonus abuse and collusion and chip dumping. Participants indicate that crimes of fraud often go unreported and unrecorded, resulting in a limited evidence base upon which to develop holistic and effective counter-fraud measures.

Research limitations/implications

The research sample is small, although this study is the first to examine the perspectives of key stakeholders working in one of the world’s largest remote gaming industries. Findings are of relevance to regulated online gambling markets across the globe.

Practical implications

The study suggests that better intelligence sharing amongst gambling operators and regulators can serve to enhance counter-fraud measures both locally and internationally.

Originality/value

The reputational and commercial imperative of gambling operators and regulators means that research studies pertaining to the topic of crime in the remote gaming industry that incorporate their perspectives are rare.

Details

Journal of Financial Crime, vol. 28 no. 4
Type: Research Article
ISSN: 1359-0790

Keywords

Access Restricted. View access options
Article
Publication date: 1 July 2011

Meghan McGlinn Manfra and John K. Lee

In this qualitative case study we explored the experiences of low- achieving students responding to an educational blog. Our intention was to leverage the unique affordances of…

34

Abstract

In this qualitative case study we explored the experiences of low- achieving students responding to an educational blog. Our intention was to leverage the unique affordances of blogs to teach United States history concepts primarily by providing access to digital primary sources and facilitating on-line participation. Overall, our findings point to the positive potential of blogs to enhance instruction with low-achieving students. We found the integration of the educational blog provided an effective instructional format to differentiate content instruction and deliver “equity pedagogy.” In this study student participation increased, students engaged in historical work (although tentative), and the resources activated their prior knowledge. Rather than withholding Web 2.0 technologies from low-achieving students we encourage teachers to use them to meet the unique learning needs of all of their students. With thoughtful scaffolding, it appears teachers might be able to leverage the unique features of blog-based activities to improve student experiences.

Details

Social Studies Research and Practice, vol. 6 no. 2
Type: Research Article
ISSN: 1933-5415

Keywords

Access Restricted. View access options
Article
Publication date: 5 February 2020

Gaurav Gupta and Jitendra Mahakud

The purpose of this paper is to investigate the impact of the macroeconomic condition on investment-cash flow sensitivity (ICFS) of Indian firms and examine whether the effect of…

503

Abstract

Purpose

The purpose of this paper is to investigate the impact of the macroeconomic condition on investment-cash flow sensitivity (ICFS) of Indian firms and examine whether the effect of macroeconomic condition on ICFS depends on the size and group affiliation of the firm.

Design/methodology/approach

An empirical investigation is conducted using a dynamic panel data model or more specifically system generalized method of moments (GMM) estimation technique.

Findings

Empirical findings postulate that the availability of cash flow influences the investment decisions which depicts that Indian manufacturing firms are internally as well as externally financially constrained. This study finds that good economic condition (period of high GDP growth rate) reduces the ICFS, although this effect is stronger for small-sized and standalone firms than the large-sized and business group affiliated firms. The authors find that macroeconomic condition has a positive and significant effect on investment decisions.

Research limitations/implications

This study has considered only the non-financial sector. The future research could explore the effect of macroeconomic condition on ICFS might be affected by firm other characteristics such as firm age and firm capital structure.

Social implications

The government should provide loan on the low rate to the small-sized firms and standalone firms because it is very difficult for these firms to finance their investment during the bad economic condition (period of low high GDP growth rate).

Originality/value

This study contributes to the existing literature by analyzing the impact of the macroeconomic condition on ICFS as well as investment decisions of the Indian manufacturing firms, which is an unexplored issue from an emerging market perspective. To the best of my knowledge, this is a first-ever study which explores the effect of macroeconomic condition on investment decisions with respect to business group affiliation and firm size.

Details

South Asian Journal of Business Studies, vol. 9 no. 1
Type: Research Article
ISSN: 2398-628X

Keywords

Access Restricted. View access options
Article
Publication date: 16 February 2022

Erin Jade Twyford and Warwick Funnell

This study examines how accounting practices used by Deutsche Bank could conceal its role in the destruction of Jewish financial life (bios) as part of the Nazis' Aryanisation…

556

Abstract

Purpose

This study examines how accounting practices used by Deutsche Bank could conceal its role in the destruction of Jewish financial life (bios) as part of the Nazis' Aryanisation policy to eliminate Jews from German business as a prelude to their annihilation.

Design/methodology/approach

This study uses a close-reading method that draws upon a wide range of primary and secondary sources. The study is informed by Giorgio Agamben's theorisations on the state of exception and the duality of the example and exception.

Findings

The successful implementation of the Nazis' corporative economic model necessitated the cooperation of Aryan businesses to instrumentalise the financially exploitative process of Aryanisation. Accounting was part of the Nazi-Deutsch rhetoric used to disguise expropriation of Jewish businesses and other assets and, thereby, facilitate the eradication of the financial bios of Jews who owned German banks. Unknown to the Nazi authorities, Deutsche Bank, while a significant medium for Aryanisation, sought to ameliorate the long-term effects on Jewish owners, thereby recognising that not all those within Nazi Germany were fully committed disciples of Nazism.

Research limitations/implications

The findings of this study identify how accounting practices were part of a Nazi policy designed to eliminate Jews from the German economy. The use of accounting as a form of “Nazi-Deutsch” functioned to disguise Aryanisations. The importance of these contributions of accounting practices calls for further research into the role of business and accounting in the attempted eradication of people.

Originality/value

The paper is the first to consider the process of Aryanisation in Nazi Germany (1933–1945) as a specific historiographical subject. Presented through the examination of the Aryanisation actions of Deutsche Bank, this study demonstrates the tension between Nazi ideology, the capitalist model and the culpability of accounting practices as a means to reinterpret morality to create the exception that allowed the Nazis to effectively remove all legal protections for Jews.

Details

Accounting, Auditing & Accountability Journal, vol. 36 no. 1
Type: Research Article
ISSN: 0951-3574

Keywords

Abstract

Details

Further Documents from F. Taylor Ostrander
Type: Book
ISBN: 978-0-76231-354-9

Access Restricted. View access options
Book part
Publication date: 14 July 2014

Michelle Trotman Scott

African-American and Hispanic students are underrepresented in gifted education. In many cases, African-American and Hispanic students are underachieving in the classroom setting…

Abstract

African-American and Hispanic students are underrepresented in gifted education. In many cases, African-American and Hispanic students are underachieving in the classroom setting and lack interest in what is being taught. This chapter will discuss the underrepresentation of African-American and Hispanic students in gifted programs, curricula and program challenges within general and gifted classrooms, Bloom’s taxonomy and James Banks’ multicultural curriculum model. The chapter will also provide an overview of the Ford–Harris matrix, and introduce a color-coded layout of the matrix and provide pros and cons for each matrix level.

Details

Gifted Education: Current Perspectives and Issues
Type: Book
ISBN: 978-1-78350-741-2

Keywords

Access Restricted. View access options
Article
Publication date: 6 May 2014

Michael F. Ferguson and Bradley A. Stevenson

The aim of this paper is to examine the question of the specialness of banks by addressing concerns raised in the recent studies and deriving policy implications for the future of…

325

Abstract

Purpose

The aim of this paper is to examine the question of the specialness of banks by addressing concerns raised in the recent studies and deriving policy implications for the future of banking. The specialness of banks has been well documented in the finance literature. More recent research, however, calls into question the special nature of banks.

Design/methodology/approach

We use event study methodology to study 423 bank loan announcements from 1988 to 1996 and examine the returns relative to proxies for the bank ' s monitoring incentives and skill using ordinary least squares (OLS) regressions.

Findings

Our results indicate borrower abnormal announcement returns are positively related to proxies for the bank ' s monitoring incentives and skill as measured by: the ratio of uninsured deposits to total loans; a risk-adjusted measure of recovered charge-offs; and the relative bank-to-borrower capital ratio.

Research limitations/implications

The results reveal how the fragile nature of the bank ' s structure improves the bank ' s incentives to monitor borrowers.

Practical implications

Our results can inform the current debates in the Fed and in Congress surrounding reapplying the Glass-Steagall Act and limiting the size of banks. We show that banks were special before the Gramm-Leach-Bliley Act and when fewer banks belonged to the too-big-to-fail category. This suggests that reregulating banks to re-establish their fragile nature will re-establish them as information-generating intermediaries instead of just transactional institutions.

Originality/value

Our findings have not previously been documented but are broadly consistent with models developed by Calomiris and Kahn (1991) and especially Diamond and Rajan (2001).

Details

Journal of Financial Economic Policy, vol. 6 no. 2
Type: Research Article
ISSN: 1757-6385

Keywords

1 – 10 of over 12000
Per page
102050