Copernican Journal of Finance and Accounting最新文献_第2页

FINANCIAL INNOVATION, RISK MANAGEMENT, AND BANK PERFORMANCE 金融创新、风险管理与银行绩效

Copernican Journal of Finance and Accounting Pub Date : 2020-07-31 DOI: 10.12775/cjfa.2020.004

Ghazi Zouari, I. Abdelmalek

{"title":"FINANCIAL INNOVATION, RISK MANAGEMENT, AND BANK PERFORMANCE","authors":"Ghazi Zouari, I. Abdelmalek","doi":"10.12775/cjfa.2020.004","DOIUrl":"https://doi.org/10.12775/cjfa.2020.004","url":null,"abstract":"Several researches conducted from the angle of corporate governance reveals that the majority of the work that examines the direct association between financial innovation and bank performance has displayed mixed results and has ignored the indirect relationship between these two variables through the risk management of incurred by the bank. In this context, the purpose of this study is to investigate whether or not there is a mediating effect of risk management on the relationship between financial innovation and bank performance. Data collected from annual activity reports of banks listed on the Tunis Stock Exchange is analyzed, and used to validate the theoretical and empirical contributions of our article. The empirical study uses the Panel data extracted from 10 banks, over the period ranging from 2009 to 2017, and the Baron and Kenny (1986) mediation approach has been estimated, using specifications of random effects. Our empirical analysis substantiates that financial innovation has a positive direct effect on stock market performance, and a non-significative impact on financial profitability. Additionally, our results show that improving the stock market performance of banks by financial innovation depends on the mediator role of the operational risk management. To remain improving performance, Tunisian banks must pay more attention on special training of bank managers whose function relate to the choice of financial innovations and manage the associated risks.","PeriodicalId":260523,"journal":{"name":"Copernican Journal of Finance and Accounting","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-07-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133914009","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 3

DETERMINANTS OF INFORMAL ECONOMY ESTIMATION IN ETHIOPIA: MULTIPLE-INDICATORS, MULTIPLE-CAUSES (MIMIC) APPROACH 埃塞俄比亚非正规经济估计的决定因素:多指标，多原因(模拟)方法

Copernican Journal of Finance and Accounting Pub Date : 2020-07-31 DOI: 10.12775/cjfa.2020.008

S. Wondimu, Mathewos Woldemariam Birru

{"title":"DETERMINANTS OF INFORMAL ECONOMY ESTIMATION IN ETHIOPIA: MULTIPLE-INDICATORS, MULTIPLE-CAUSES (MIMIC) APPROACH","authors":"S. Wondimu, Mathewos Woldemariam Birru","doi":"10.12775/cjfa.2020.008","DOIUrl":"https://doi.org/10.12775/cjfa.2020.008","url":null,"abstract":"This paper explored the determinants of the informal economy size estimations with survey data in the multiple indicators, multiple causes (MIMIC) model. This model enables us to estimate the unknown variable with the known observable variables. The size of the informal economy estimated with observable variables and to conduct the estimation with this model grouped the observable variables of the study as causes and indicators. In the underlying study, the size of informal economy estimations the variables such as harmfulness of shadow economy, growth of money outside banks, taxes burden, the intensity of government regulations, self-employment, unemployment rate, and agricultural sector dominance have the positive effects whereas the real GDP per capita, total employment, institutional quality, and tax morality have negative effects in the estimation of the informal economy size. The study recommended a future line of studies for scholars to undertake the study on the size of the informal economy estimations with the indirect approach using panel data to know the impacts on the regular economy and other related consequences on the economy.","PeriodicalId":260523,"journal":{"name":"Copernican Journal of Finance and Accounting","volume":"41 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-07-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133407374","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

BOARD CHARACTERISTICS AND THE LIKELIHOOD OF FINANCIAL STATEMENT FRAUD 董事会特征与财务报表舞弊的可能性

Copernican Journal of Finance and Accounting Pub Date : 2020-07-31 DOI: 10.12775/cjfa.2020.003

M. Subair, R. T. Salman, Ayodeji Fatai Abolarin, Abdulrasheed Taiwo Abdullahi, Akeem Sisofa Othman

引用次数: 6

FINANCING THE SOLAR ENERGY MARKET THROUGH THE USE OF SECURITIZATION – THE CASE OF THE UNITED STATES 通过证券化为太阳能市场融资——美国的案例

Copernican Journal of Finance and Accounting Pub Date : 2019-12-19 DOI: 10.12775/CJFA.2018.009

M. Pawłowski

引用次数: 2

MATHEMATICAL MODEL FOR THE EVOLUTIONARY DYNAMIC OF INNOVATION IN CITY PUBLIC TRANSPORT SYSTEMS 城市公共交通系统创新演化动态的数学模型

Copernican Journal of Finance and Accounting Pub Date : 2019-12-19 DOI: 10.12775/CJFA.2018.010

H. D. Toro-Zapata, G. Olivar-Tost

{"title":"MATHEMATICAL MODEL FOR THE EVOLUTIONARY DYNAMIC OF INNOVATION IN CITY PUBLIC TRANSPORT SYSTEMS","authors":"H. D. Toro-Zapata, G. Olivar-Tost","doi":"10.12775/CJFA.2018.010","DOIUrl":"https://doi.org/10.12775/CJFA.2018.010","url":null,"abstract":"In this study, a mathematical model is formulated and studied from the perspective of adaptive dynamics (evolutionary processes), in order to describe the interaction dynamics between two city public transport systems: one of which is established and one of which is innovative. Each system is to be influenced by a characteristic attribute; in this case, the number of assumed passengers per unit it that can transport. The model considers the proportion of users in each transport system, as well as the proportion of the budget destined for their expansion among new users, to be state variables. Model analysis allows for the determination of the conditions under which an innovative transportation system can expand and establish itself in a market which is initially dominated by an established transport system. Through use of the adaptive dynamics framework, the expected long-term behavior of the characteristic attribute which defines transport systems is examined. This long-term study allows for the establishment of the conditions under which certain values of the characteristic attribute configure coexistence, divergence, or both kinds of scenarios. The latter case is reported as the occurrence of evolutionary ramifications, conditions that guarantee the viability of an innovative transport system. Consequently, this phenomenon is referred to as the origin of diversity.","PeriodicalId":260523,"journal":{"name":"Copernican Journal of Finance and Accounting","volume":"28 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116714001","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The Transformation Of The Corporate Governance Model: A Literature Review 公司治理模式的转型:文献综述

Copernican Journal of Finance and Accounting Pub Date : 2019-12-03 DOI: 10.12775/CJFA.2019.011

Atm Adnan, N. Ahmed

{"title":"The Transformation Of The Corporate Governance Model: A Literature Review","authors":"Atm Adnan, N. Ahmed","doi":"10.12775/CJFA.2019.011","DOIUrl":"https://doi.org/10.12775/CJFA.2019.011","url":null,"abstract":"This study intends to present a review analysis of the CG literature with a view to discover and categorize the macro and micro level determinants of CG framework. Apart from this, it targets to signify long enduring CG debate concerning shareholders VS stockholders value orientation. This study presents a comprehensive understanding of a broad assortment of macroeconomic governance issues such as measures against hostile takeover, board formation /composition, capital market actions, managerial incentives, debt covenants and leverage, market for managers & directors, capital structure and managerial ownership, legal framework etc has been also integrated. Moreover issues associated to relative corporate governance and convergence of global corporate governance model has also been discusses by putting specific emphasize on the conflict of interest occurring from the association between executives and investors and the connection involving the value of the firms and CG. It is noted that because of the limitations in existing significant hypothetical and functional inadequacies, external controlling mechanisms might not be able to solely resolve the CG challenge, even though these could be significantly successful in some specific situations, Thus, corporations have to implement balancing internal firm specific controlling mechanism to reduce the overall costs associated to agency problem. The analysis also reveals that Both stockholder and stakeholder models are competing on the ground of superiority however, in practically there has been a vibrant modification with both standards are becoming progressively equally appealing in different regions over the last two decades.","PeriodicalId":260523,"journal":{"name":"Copernican Journal of Finance and Accounting","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129886709","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 2

EVALUATING VOLTALITY PERSISTENCE OF STOCK RETURTN IN THE PRE AND POST 2008-2009 FINANCIAL MELTDOWN 评估2008-2009年金融危机前后股票回报的波动持续性

Copernican Journal of Finance and Accounting Pub Date : 2019-12-03 DOI: 10.12775/CJFA.2019.013

Kamaldeen Ibraheem Nageri

引用次数: 1

The Characteristics of Top Managment and Firm's Earnings Management: the Evidence Form Thailand 高层管理者特征与企业盈余管理:来自泰国的证据

Copernican Journal of Finance and Accounting Pub Date : 2019-12-03 DOI: 10.12775/CJFA.2019.012

Rojana Khunkaew, Yang Qingxiang

引用次数: 0

AN EMPIRICAL ANALYSIS OF CORPORATE CAPITAL STRUCTURE AND FINANCIAL PERFORMANCE OF LISTED CONGLOMERATES IN NIGERIA 尼日利亚上市集团公司资本结构与财务绩效的实证分析

Copernican Journal of Finance and Accounting Pub Date : 2019-12-03 DOI: 10.12775/CJFA.2019.014

Lukman Adebayo Oke, D. Saheed, Y. Quadri

{"title":"AN EMPIRICAL ANALYSIS OF CORPORATE CAPITAL STRUCTURE AND FINANCIAL PERFORMANCE OF LISTED CONGLOMERATES IN NIGERIA","authors":"Lukman Adebayo Oke, D. Saheed, Y. Quadri","doi":"10.12775/CJFA.2019.014","DOIUrl":"https://doi.org/10.12775/CJFA.2019.014","url":null,"abstract":"The relationship between capital structure and firms’ financial performance has attracted the attention of many researchers both locally and globally. The paucity of empirical evidence from Nigeria in this regard, especially on Nigerian conglomerate firms, portends the need for further research. Against this backdrop, the study investigated the impact of capital structure on the financial performance of listed conglomerates in Nigerian using descriptive statistics, pairwise correlation and panel data regression technique to analyze the secondary data extracted from the annual reports and accounts of the six (6) selected conglomerates for the period 2008 to 2017. The study found that financial leverage proxy by total debt ratio, long-term debt ratio and short-term debt ratio have significant impact on the selected firms’ financial performance proxy by return on assets, except debt to equity ratio that reveals an insignificant impact on return assets (ROA). Firm size and growth also reported a significant effect on the financial performance of the selected firms. The findings is in tandem with the proposition of the agency cost theory in the Nigeria settings but with caution considering the facts that firms in Nigeria were largely finance through short term debt obligation as against long term debt funding that was presumed in the agency cost theoretical proposition. It is therefore recommended that managers of companies should be guided when seeking credit advances from the financial market as it is important when considering the appropriate capital mix that optimize firm value.","PeriodicalId":260523,"journal":{"name":"Copernican Journal of Finance and Accounting","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117076110","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1

PENSION VALORIZATION METHOD – SELECTED ISSUES 养老金定价方法-选择问题

Copernican Journal of Finance and Accounting Pub Date : 2018-03-24 DOI: 10.12775/CJFA.2017.015

Anna Kobylińska, Maciej Balcerowski

引用次数: 0