Current Issue : July - September Volume : 2016 Issue Number : 3 Articles : 7 Articles
This study focuses on the interim financial reports released by the Jordan�s listed companies. Compulsory to all listed companies, interim financial reports are useful and are being used. In fact, among investors, interim financial reports are ranked second most essential source of information after annual reports. As such, investors are of the opinion that interim financial report needs enhancement especially, in terms of voluntary disclosure. Further, the mandatory disclosure released by companies no longer satisfies the needs of stakeholders, i.e., certain individuals, institutions, and governments. On the other hand, voluntary disclosure is essential and effective in demonstrating the company�s competitiveness, clarifying the company�s future, and communicating with the pertinent organizations and individuals. Also being deliberated in this study, are the motivations underpinning the company�s practice of voluntary disclosure, and the interim financial report�s objectives, and uses, and the interim financial reporting�s benefits...
This paper examines the impact of state laws on foreclosure starts using mortgage, borrower, and\neconomic data at the state level. Several models are studied to capture the impact of state-specific\nforeclosure laws and statutes, i.e. loss mitigation requirement before foreclosure, right to cure,\nand right to reinstate before sale. Data sources include Mortgage Bankers Association, Home\nMortgage Disclosure Act, US Census, National Consumer Law Center-Survey of State Foreclosure\nLaws, and Experian. The study shows that statewide pre- and post-sale foreclosure-prevention\nstatutes impact foreclosure starts. The results indicate statutory programs involving housing\nemergency assistance funds statistically slow foreclosure starts....
The regulatory outcomes and how the various banks are operating in the economy have their significant\nimpact on the overall banking system and in determining the firmness of financial structure.\nIn the current study analysis, we have conducted this work to examine the relationship between\nthe financial market development, bank risks with key indicators and their ultimate impact\non financial performance in the banking sector of Pakistan from 2003 to 2011. For this purpose,\npanel data analysis has been performed and both the firm specific and country specific factors\nhave been considered. The bank risk is analyzed in two dimensions of bank risk: first is capitalization\nratio that measures the total amount of debt in company�s capital structure (banks behavior)\nand second one is TEIR-I capital ratio which is the proxy used to compare the present level of risk\nbased assets in firm�s balance sheet. A conceptual model has been developed for this purpose and\nkey findings being made. Stock market development and banking sector development is used to\nmeasure the financial market development of the economy. Core findings of the study stated that\nthere exists significant relationship between financial market development in banking sector and\nfinancial performance with key indicators....
This study aims to measure the foreign exchange risks that the insurance companies are exposed\nto. In this context, this study analyzes 7 insurance companies listed in Borsa Istanbul (Istanbul\nStock Exchange). The foreign exchange risks that the insurance companies are exposed to were\nmeasured using VaR models, Historical Simulation and Monte Carlo Simulation methods. Data obtained\nfrom the analysis show the losses that the insurance companies suffer due to exchange risk.\nThe losses calculated using the Monte Carlo Simulation were found to be greater than the losses\ncalculated using Historical Simulation....
The author of the presented paper is trying to develop and implement the model that can mimic\nthe state of the art models of operational risk in insurance. It implements generalized Pareto distribution\nand Monte Carlo simulation and tries to mimic and construct operational risk models in\ninsurance. At the same time, it compares lognormal, Weibull and loglogistic distribution and their\napplication in insurance industry. It is known that operational risk models in insurance are characterized\nby extreme tails, therefore the following analysis should be conducted: the body of distribution\nshould be analyzed separately from the tail of the distribution. Afterwards the convolution\nmethod can be used to put together the annual loss distribution by combining the body and\ntail of the distribution. Monte Carlo method of convolution is utilized. Loss frequency in operational\nrisk in insurance and overall loss distribution based on copula function, in that manner using\nstudent-t copula and Monte Carlo method are analysed. The aforementioned approach represents\nanother aspect of observing operational risk models in insurance. This paper introduces: 1)\nTools needed for operational risk models; 2) Application of R code in operational risk modeling;3)\nDistributions used in operational risk models, specializing in insurance; 4) Construction of operational\nrisk models....
Marketing can be understood as the instrument used by companies to determine the needs of its\ncustomers and to create mechanisms in order to supply such needs and bring the company better\nchances of success. The financial sector in Brazil often involves great challenges; thus as to survive\nand grow in marketing it is necessary to implement some actions that enable greater proximity\nbetween companies and customers; to understand their needs and to be more flexible in order to\noffer more quality, individually. Currently, there is no significant differential used by the companies\non their products and services, and therefore, it is necessary to create marketing strategies so\nas to achieve and maintain market share. Thus, the purpose of this paper is to evaluate the perception\nof quality in the services provided by a bank, located in Campina Grande, ParaÃ?Âba, Brazil.\nRegarding the methodological aspects, this study is characterized as exploratory and descriptive,\nbeing a case study, with a quantitative analysis approach. The findings revealed that the agency\nstill falls short in many criteria that concern its customers. Consequently, it is necessary that the\ncompany improves its employeesââ?¬â?¢ qualification, starts to listen and respond to customersââ?¬â?¢ suggestions,\nand also has some flexibility in its services. Therefore, the agency should review the points\nthat should be improved in order to prevent their customers to seek for services provided by\nother agencies that offer quality services....
Although, SFAS 159 has raised the bar for disclosure requirements and improved investors, analysts, and financial statement users understanding of managements� rationale for implementing the Fair Value Option (FVO) for equity securities, it has been criticized to prospect entities to structure transactions that are intended to lever a specific accounting effect. Companies by appointing the fair value option for underwater investments in certain securities can move those securities from the available-for-sale and held-to-maturity categories into the trading category and record the unrealized losses as an essential portion of the cumulative-effect adjustment to retained earnings without reproducing any losses on the securities in the income statement even if the securities subsequently are sold. This study examines how the thirty companies that comprise the Dow Jones Industrial Average (Dow 30) complied with the provisions of SFAS No. 157 and 159 to record their investments in equity securities. The results indicate that the sample of companies complied with the qualitative guidelines outlined in the pronouncement. A surprising finding was that a large number of the sample companies reported that they don�t currently believe adoption would have a material impact on their consolidated results of operations and financial condition....
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