Current Issue : July - September Volume : 2012 Issue Number : 3 Articles : 6 Articles
This paper develops a general continuous-time evolutionary finance model with time-dependent\r\nstrategies based on evolutionary game theory. We show that the continuous model, which is a limit of a\r\ngeneral discrete model, is well-defined and if there exists one completely diversified strategy in the\r\nmarket, then there is no sudden bankruptcy. We study in detail, a deterministic evolutionary bond\r\nmarket and certify that a bond market is evolutionary stable if and only if the total returns across all\r\nassets are the same. By this way, we derive an explicit expression for the bond valuation and provide\r\nan approach to recover the benchmark interest rate from an effective bond market....
Prior studies have shown that Quality Environment (QE) auditing is an effective management tools, \r\ni.e. in improving housekeeping and environmental performance. There are limited studies aimed at \r\nidentifying factors contributing to the effectiveness of QE auditing. Based on the framework \r\nstudying factors contributing to internal audit effectiveness, this paper attempts to examine such \r\nfactors in QE context. By identifying the potential differences of priority factors that lead to \r\neffectiveness, result of this study contributes to the improvement of quality audit process and \r\nmanagement of QE certification auditing. This paper explores the differences of perception \r\nbetween management and executive levels on the prioritization factors that contribute to the audit \r\neffectiveness of Quality Environment (QE) audit. The study was conducted at an organization that is \r\nresponsible for promoting QE certification both in private and government sectors in the Malaysian \r\nenvironment. Although the results show mixed response between the levels, the researchers found \r\nthere is some similarity of prioritization on the top three factors that contribute to the QE audit \r\neffectiveness between management and executive level. Since this study only focuses on perception \r\nof the factor that contributes to the effectiveness, another focus such as measuring the effectiveness\r\nwill be an interesting area to explore for future research. Furthermore, a larger scale of study \r\nwould contribute to the generalization of quality auditing series....
Considering the deficiencies in the field of researches on financial crisis prediction for the present, this\r\npaper build financial early warning model for manufacturing listed companies, using quarterly time\r\nserials data three years before special treatment (ST). We find out that the predictive validity of logistic\r\nfinancial early warning system based on time serials data is better than that based on cross-section\r\ndata; logistic financial early warning is better than fisher multivariate discriminant analysis; corporate\r\nprofitability, earnings per share (EPS) and general manager stake which significantly affect the financial\r\ndistress....
Electronic accounting, which involves the documentation, tracking, recording, archiving and\nsummarizing of transactions and events associated with a business entity as well as presenting related\nsummary information to business entity�s interest groups in an electronic environment, is an\nexemplification of indispensable rise of technological progress. Today, due to technological progress,\nboth the preparation of a document and arrangement of accounting records have been carried out in\nelectronic environment. The rules recorded in electronic environment and documents arranged by\nelectronic instruments which must be followed are defined by Tax Laws. The concept of electronic\naccounting includes e-taxing, e-banking, and e-pre accountancy practices. The determination of fraud\nauditing�s role in the effectiveness of electronic accounting practices comprises the objective of this\nstudy....
Textile companies in Nigeria have complained of stifling competition against the backdrop\r\nof challenges of declining endogenous and exogenous resources. Using electricity and\r\ncapacity utilization as proxies, we show that electricity supply is a significant determinant of\r\nperformance. We recommend, among others, that Public electricity supply to the textile\r\ncompanies should be taken as a state of emergency to ensure that there is uninterrupted\r\npower supply. Government at various levels should embark on intensive advocacy for\r\nNigerians to develop a culture of using locally made goods while leading by example.\r\nOpinion molding should be employed both in the public and private sectors....
Romania, like other nations, is moving forward in developing its electronic services to meet the \r\nchallenges of this century. One of the electronic services which is gaining more popularity and \r\nattention is e-banking. The consideration given to the e-banking by the current traditional \r\nbanking customers may be due to the changes in the banking consumers� lifestyle, and this \r\nlifestyle has become compatible to the new way of conducting banking services online. \r\nHowever, literature related to e-banking shows that trust and security are among the central \r\nfactors that influence banking customers� acceptance of the service. The purpose of this paper is \r\nto review measures taken by the government of Romania and major banks in the country in \r\ntackling the issue of trust and security on e-banking. In particular, the study focuses on \r\nreviewing legal provisions instituting by related ministry on e-banking practices and strategies \r\ntaken by banks to address the security concerns of the service. Based on the review, it was \r\nfound that Romania has legal frameworks in place and banks have also adopted measures to \r\naddress the issue. However, whether or not these measures are effective in mitigating banking \r\nconsumers� security concerns is yet uncharted and need to be investigated....
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