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The purpose of this paper is to investigate the relationship between the share price volatility of Mediterranean banks and their dividend policies, with particular emphasis on the variation of results across sub-samples and the outcomes when omitting outlier observations.

The authors use dividend yield and dividend payout as proxies of dividend policy, and regress these ratios together with other control variables to model volatility. The robustness of the results is assessed by re-using a data set which omits the outliers relating to the aftermath of the 2007 financial crisis and by forming sub-samples using cluster analysis.

The results show that the elimination of outliers and the setting up of sub-samples lead to different inferences about the underlying relationship between dividend policy and volatility. In addition traditional indicators of statistical significance may give the impression of a robust relationship, when this may not be the case.

The paper offers insights to stock traders and corporate managers in terms of better understanding the effect of dividend policies on share price volatility and its related risks and opportunities.

The study presents noteworthy empirical evidence in terms of its rigorous approach towards checking the robustness of results.

The purpose of this paper is to determine and lay out the variables that influence countries to carry out regulatory modernisation of the regulation of the principle of good faith in insurance so as to ensure standardisation of its application and to reduce regulatory asymmetries and uncertainties in the handling of this requirement, given the fast pace of changes in the current ecosystem. Moreover, the authors show whether these variables differ, given the different demographic factors of the respondents participating in this research.

To collect the research data, which consisted of 1,794 valid responses, the authors administered a purposely built survey, which they designed after carrying out and extensive literature search, which yielded 3,248 valid records and resulted in the inclusion of 27 research articles through a scoping review after considering inclusion/exclusion criteria (i.e. the Preferred Reporting Items for Systematic Reviews and Meta-Analysis) search strategy. The authors carried this survey between September 2019 and June 2020 using the social network, verbal and online communication systems. The survey was addressed to persons within insurance associations, professional members, persons within large corporates in the insurance industry and selected experts in the field who were purposely selected based on the work experience held, roles occupied in the industry, qualifications attained and area of expertise. The quantitative data was analysed using statistical tools, specifically descriptive statistics, exploratory factor analysis, Cronbach’s alpha and multiple linear regression. The qualitative data obtained was analysed using the thematic approach.

The authors found that four variables determine the need for modernisation of the principle of utmost good faith requirement, specifically institutional stakeholders and the political-legal framework; the market, consumer influence and the socio-economic environment; socio-technological environment and insurance practice; and international business. Moreover, the authors found that these variables hold relationships with some demographic variables and differ with age, gender, level of education and occupation in a variety of ways.

The statements grouped under the themes determined as influencing factor variables for the need for modernisation of the principle of utmost good faith, can be used by stakeholders such as policymakers and reformists within countries as a measure to determine whether this regulatory requirement is in need of modernisation or it can be used as a model for determining modernisation of other regulations or for the development of other similar models. Moreover, scholars may use this model for other sectors and other regulatory frameworks in different jurisdictions.

Although, the authors have noted several articles about modernisation carried out on regulations, to the best of their knowledge, they have not encountered articles that capture the influencing factor variables for the need for modernisation of the principle of utmost good faith under a group of themes.

The main objective of this chapter is to evaluate whether social auditing is applicable to Maltese co-operatives and, if so, to lay out the possible characteristics of such an exercise. The chapter adopts a mixed research methodology with semi-structured interviews being conducted with 14 local experts, and a questionnaire being addressed to 11 Maltese co-operative managers. The findings indicate that the Maltese co-operative identity is as yet emergent and that, consequently, if a social audit is introduced now, controversies would easily arise on the audit’s frequency, publication, scope and composition of the audit team. Nonetheless, a social audit may ultimately be modelled on the Beechwood process and on the reporting indicators of the Euro Co-op Social Reporting Working Party. It would involve the examination of both the qualitative and quantitative aspects of a co-operative, concluding with recommendations for improvement. Furthermore, the exercise would need to be monitored by the Maltese regulator, the Co-operatives Board, and best be conducted regularly, say, every 3 years, by an inter-disciplinary audit team. Therefore, the chapter concludes that the introduction of such a regulatory exercise as part of the Maltese co-operative framework would ultimately be beneficial, ameliorating the co-operative movement. Yet, it is strongly recommended that, prior to its introduction, Maltese co-operatives work further on developing their fundamentals.

This paper aims to determine how forensic accounting contributes to fraud detection and prevention and answer the following research questions: What are the standard techniques for fraud detection and prevention; and What are the significant challenges that hinder the application of forensic accounting in fraud prevention and detection?

The authors use the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) method to carry out a systematic literature review (SLR) to identify and assess the existing literature on forensic accounting.

There exists a positive correlation between forensic accounting and fraud detection and prevention. Moreover, in both the empirical and non-empirical findings, the authors note that fraud is complex, and in carrying out fraud investigations, one must be aware of its complexity.

Although drug counterfeiting is a sector where forensic accountants have paid less attention, it is a rapidly expanding fraud area. This paper finds that to detect fraud at an early stage, one must increase consumer understanding of basic forensic accounting techniques by implementing accurate supply chain monitoring systems and inventory management controls and conducting adequate and effective regulatory, honest and legitimate customs inspections.

The major factors that restrict forensic accounting are a lack of awareness and education. Hence, it is essential to incorporate forensic accounting in undergraduate and post-graduate courses.

From the existing literature, it has been observed that very few studies have been conducted in this field using the PRISMA and SLR techniques. Also, the authors carried out a holistic study that focuses on three different areas – fraud detection, fraud prevention and the challenges in forensic accounting.