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Journal articles on the topic 'Detect economic crimes'
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1
Moskaleva, E. G., and N. N. Podol'naya. "CRIMINOLOGICAL ANALYSIS OF ECONOMIC CRIME." Bulletin of Udmurt University. Series Economics and Law 31, no. 1 (February 12, 2021): 117–23. http://dx.doi.org/10.35634/2412-9593-2021-31-1-117-123.
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The article defines the consequences of economic crimes, summarizes the experience of theoretical and empirical studies of crime in the Russian economy, and presents the results of the author's research in this area. The interpretation of the concept of "economic crime" is characterized by legislative, departmental and research approaches. The authors argue that it is difficult to detect crimes in the economic sphere and the high level of latency of economic crime. Data from official statistics of Rosstat and the Prosecutor General's office of the Russian Federation were selected as the empirical base of the study. The research was carried out using methods of visual representation of data, research of dynamics, structure and analysis of relationships in the whole country and in the regional context. The study revealed the main trends in the situation from the point of view of criminalization and de-criminalization of the Russian economy, consisting in slowing down the reduction in the number of crimes in the economy in the Russian Federation. The study identifies regions with an increased level of economic crime and assesses the effectiveness of measures taken to counteract economic crime. The analysis made it possible to determine the directions of countering economic crime in Russia with the mandatory involvement of digital technologies.
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Moskaleva, E. G. "ECONOMIC CRIME IN RUSSIA: MAIN TRENDS AND FACTORS." Scientific Review: Theory and Practice 10, no. 8 (August 31, 2020): 1726–40. http://dx.doi.org/10.35679/2226-0226-2020-10-8-1726-1740.
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The article presents the results of studying the level of crime in the economic sphere in the country on the basis of official statistical information from Rosstat and the General Prosecutor’s Office of the Russian Federation. Economic crimes are difficult enough to detect, and the scale of latent economic crime is very large. In addition, the complexity of research in this area is due to the lack of precisely defined and unambiguously interpreted terms: “crimes in economic sphere”, “economic crimes”, “crime in economic field” or “crimes in the field of economic activity”. Summarizing the experience of theoretical and empirical research in this area, the author identifies three approaches to the interpretation of the concept of “economic crime”: legislative (based on the provisions of the Criminal Code of the Russian Federation), departmental and research. The consequences of economic crimes inflict irreparable harm on economic entities, society, the state as a whole, and undermine national security. The systematization of statistical data and the research carried out over a long period of time made it possible to identify the main trends in the situation from the standpoint of criminalization and decriminalization of the Russian economy, as well as to identify regions with an increased level of economic crime. The criminological analysis of crime in the sphere of economic activity has shown that there is an increase in negative trends, and with the development of the economy, it is necessary to strengthen activities to suppress economic crime. The statistical analysis of empirical data and monographic analysis made it possible to determine the most effective, in the author’s opinion, directions of combating economic crime in the modern world.
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Ocansey, Evans O. N. D. "Forensic Accounting and the Combating of Economic and Financial Crimes in Ghana." European Scientific Journal, ESJ 13, no. 31 (November 30, 2017): 379. http://dx.doi.org/10.19044/esj.2017.v13n31p379.
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Economic and financial crimes have plagued every corner of the economies of the world. These crimes affect all firms and the economies of nations (developed, developing and under-developed). Continuous research confirmed a strong demand for the need of the prevention and detection of these crimes by institutions and nations. However, economic and financial crimes are difficult to detect and most of those detected are not reported for the fear of bad publicity and loss of investor confidence. Forensic accountants are perceived to have the training and skills needed to combat economic and financial crimes. Therefore, the research examined the relevance of forensic accounting technique application in the combating of these crimes in Ghana. The research employed survey research design by sampling all the technical officers (66) of Economic and Organized Crime Office of Ghana and data was analyzed through a regression model. It was found that, the application of forensic accounting technique has significant impact on the combating of economic and financial crimes in Ghana. Therefore, all institutions (anti-corruption agencies and companies) should establish forensic accounting unit to help strengthen internal controls and ensure thorough investigation in order to prevent, deter and detect financial and economic crimes. Moreover, Institute of Chartered Accountants-Ghana and National Accreditation Board of Ghana should ensure that forensic accounting courses are included in the academic and professional curricula of Ghana Universities and professional institutions to ensure the training and increase the awareness of forensic accounting in Ghana.
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Sandagiri, Chamith, Banage T. G. S. Kumara, and Banujan Kuhaneswaran. "Deep Neural Network-Based Crime Prediction Using Twitter Data." International Journal of Systems and Service-Oriented Engineering 11, no. 1 (January 2021): 15–30. http://dx.doi.org/10.4018/ijssoe.2021010102.
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Crimes have affected the quality of life and economic growth of the country badly. The authors can identify the crime patterns and predict the crimes by detecting and analyzing the historical data. However, some crimes are unregistered and unsolved due to a lack of evidence. Thus, detecting crimes is a still challenging task. Individuals can use social media like Twitter to detect crime-related activities. Because Twitter users sometimes convey messages related to their surrounding environment, this paper proposed a machine learning approach to predict crimes. The proposed framework consists of three modules: data (tweet) collecting, detecting crimes, and predicting crime. Long short-term memory (LSTM) neural network model was used as a proposed approach for crime prediction. Experimental results found that by achieving the highest precision of 82.5%, precision of 86.4%, and recall of 80.4%, the proposed LSTM-based approach worked better than the other approaches.
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Vorobyova, Svetlana V. "Certain issues of combating customs crimes." Current Issues of the State and Law, no. 18 (2021): 281–95. http://dx.doi.org/10.20310/2587-9340-2021-5-18-281-295.
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We note that the complexity of modern relations between countries and the disrupted economic and political cooperation lead to the fact that the subjects of international economic relations are looking for new ways and forms of interaction within the framework of export-import trade, which do not always comply with the requirements of the law. We consider the issues of combating customs crimes, give the concept of customs crimes, identify issues that hinder the effective investigation and disclosure of customs crimes, suggest ways to solve them. We provide official statistics on these acts. We emphasize that the issue of combating customs crimes is more ur-gent than ever, due to the fact that the number of illegal acts in this area is growing every year and causes irreparable damage to the economic security of the state. We also reflect the role of customs authorities in the prevention and detection of crimes related to smuggling. We analyze the question of the presence of a set of crimes qualified under the articles of the Criminal Code of the Russian Federation on smuggling. Conclusions: it is necessary to de-velop legislation in this area, improve the work of customs authorities, intro-duce new technologies to detect violations of customs legislation, develop strategies for the most effective investigation of this category of cases, im-prove the professional skills of employees, fight corruption-causing factors, which together will allow the most active fight against this type of crime, which in turn will significantly increase the welfare of the country and im-prove the climate of international economic cooperation between states.
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Nguyen, Duc Hanh, and Thi Mai Dinh. "Legal framework for wildlife farming benefits species conservation and preventing wildlife crimes in Vietnam." E3S Web of Conferences 175 (2020): 03025. http://dx.doi.org/10.1051/e3sconf/202017503025.
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Animal husbandry plays a certain role in economic growth of the agricultural sector. Compared with conventional husbandry, wildlife farming brings important, even many times greater economic benefits with certain species. At present, however, due to different objective and subjective factors, the raising of wild animals in Vietnam has not been adequately taken care of and faced several difficulties. The inadequate legal structure for wildlife farming has caused difficulties to farmers when finding breeding supplies and product output. In addition, wildlife criminals take advantage of agricultural operations to cover up their crimes, evade the detection and handle from the authorities. In order to contribute to promoting the development of agricultural economy in general, the economy of organizations and individuals participating in animal husbandry activities in particular, we aims at recognizing, examining and reviewing the existing legal system for wildlife-farming practices, crime situation and crime handling in Vietnam in recent years in this research. We will detect the difficulties, obstacles and inadequacies of the legal framework on wildlife farming, as well as the prevention and prosecution of wildlife crimes, propose strategies and guidelines for perfecting the law and appropriately implementing law provisions.
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Vera, José Carlos. "Instrumentos de análisis para identificar operaciones de lavado de dinero." Cuadernos de difusión 11, no. 21 (December 30, 2006): 69–95. http://dx.doi.org/10.46631/jefas.2006.v11n21.04.
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Money laundry is the process that hides the origin of resources obtained through illegal activities like drug traffi cking, smuggling, corruption, tax fraud, white-collar crimes, public misappropriation, extortion, illegal work, and, lately, terrorism. The resources are presented as coming from legal activities, and are freely traded in the fi nancial system. However, thanks to the ongoing efforts of international organisms, the countries have established regulations, institutions and organisms to fi ght this crime. In Peru, the entity created for this purpose is the Financial Intelligence Unit, and several legal provisions have been set forth in this regard. This document presents a methodology aimed at generating analysis instruments, indicators and procedures to allow fi nancial institutions to detect money laundry operations. The information used to generate said indicators is provided by INEI’s annual economic survey database, and the information to generate the analysis instrument comes from satellite accounts
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Yakovleva, Margarita, and Elena Marchenko. "Historical prerequisites for legal regulation of prevention crimes committed by the Internal Affairs bodies of the Russian Federation." Vestnik of the St. Petersburg University of the Ministry of Internal Affairs of Russia 2020, no. 2 (July 21, 2020): 72–81. http://dx.doi.org/10.35750/2071-8284-2020-2-72-81.
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The relevance of crime prevention is that crime in today’s innovative society is an extremely dangerous phenomenon that has an adverse impact on the socio-economic status of each state, on individual citizens and their collective entities. This negative phenomenon also have a negative impact on the political «life» of the State: certain types of crimes have a pronounced anti-State character (terrorism, official deception, bribery, etc.). In this regard, there is no doubt about the special relevance of building an effective system of State response to any manifestations of crime, including a system of prevention by the Russian internal affairs agencies, research into the history of these relations. The subject of the study is a scientific analysis of the historical prerequisites of the genesis of the national legislation on the regulation of relations in the field of crime prevention. The purpose of this study is to analyze the legal peculiarities of crime prevention at various stages of legislation in this sphere before the modern stage development. The Methods of research are system analysis, historical, structural, logical, comparative scientific methods. The study highlights the historical stages of the genesis of national internal affairs agencies in relation to crime prevention activities. The results achieved include the analysis of sources of law in the field of crime prevention at each of the historical stages, the analysis of issues in the field of legislative development, and the identification of trends in each of the stages. It is noted that in modern conditions, in accordance with the current Russian legislation, in the system of state authorities whose activities are aimed at combating and preventing crimes, a special role is assigned to the internal affairs bodies of the Russian Federation, headed by the Ministry of Internal Affairs of the Russian Federation. It is this federal executive body that carries out the main range of activities to combat crime, organize preventive measures and prevent, detect and eradicate crime.
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Булгакова, Марина, and Marina Bulgakova. "Holding certain types of legal expertise in criminal cases related to illegal forestry." Services in Russia and abroad 9, no. 1 (June 25, 2015): 3–13. http://dx.doi.org/10.12737/11703.
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The article highlights the problem of illegal logging of forest plantations in Russia, the scientific and procedural component of the systematic work of the various organizations and agencies to develop mechanisms for combating crime in the forest industry, representing the author´s vision of a separate investigation of the type of environmental crime under the economic security of the state.
The author notes that a variety of disorders related to forest management are not new types of offenses in the country. Even in the XIX century, the Russian Empire basic directions of state activity to prevent violations of forest law were enshrined in the Charter of the Forest, which listed offenses and crimes and defined punishment for their commission. The annual growth in the number of offenses detected by law enforcement agencies in terms of violations of forest law, entails the need to create the most effective ways to detect, capture and examinate evidence. In this examination of the scene, primary investigative actions must be paid special attention. It is, in our opinion, should be done at a high level, carefully and accurately, which would continue to form the evidence base to carry out a sufficient number of different examinations, including forensic botanical using dendrochronology methods. The conclusion of the forensic botanical examination may serve as confirmation of the legality of timber, as well as a means of quality control of products of wood.
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Nasir, Noorul Azwin Md, Hafiza Aishah Hashim, Noorshella Che Nawi, Mohd Nor Hakimin Yusoff, and Nur Athirah Mohd Aluwi. "Enhancing Financial Reporting Quality through Corporate Ethics Commitment: A Malaysian Review." 12th GLOBAL CONFERENCE ON BUSINESS AND SOCIAL SCIENCES 12, no. 1 (October 8, 2021): 72. http://dx.doi.org/10.35609/gcbssproceeding.2021.12(72).
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A rising number of cases involving ethical misconduct within firms have of late received considerable attention in Malaysia. Despite the country's declaring having a strong corporate governance policy, strengthened through the Code of Ethics for Company Directors and Malaysia Code of Corporate Governance, the unethical practices and lack of integrity within firms remain an issue. PricewaterhouseCoopers (PwC) Malaysia conducted a survey in 2018, it was found that 41 percent of Malaysian registered companies were guilty of committing some forms of economic crimes, specifically business misconduct, asset misappropriation, bribery, and corruption. They added, the actual number may be higher due to many cases of ethical misconduct that typically go unreported. Furthermore, crimes of ethical misconduct in Malaysia have also increased by 28 percent in the last two years. It was revealed taht corporate culture was the most influential element in helping detect early warning signs of ethical misconduct within a firm. A KPMG 2019 report published in the subsequent year also suggested that an unhinged desire for a wealthy lifestyle acts as a prime motivation behind many of the unethical behaviors discovered. Thus, in the light of the increasingly worsening situation of ethical misconduct in Malaysian firms, the need to explore these corporate ethical issues has never become more crucial and appropriate. The ubiquitous nature of the issue has subsequently jeopardized the financial reporting quality of Malaysia's firms. Keywords: Corporate Ethics, Corporate Governance, Earnings Management, Financial Reporting Quality
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Skryabin, Oleksiy, and Dmytro Sanakoyev. "Socio-psychological portrait of the leader of an ethnic criminal group." Naukovyy Visnyk Dnipropetrovs'kogo Derzhavnogo Universytetu Vnutrishnikh Sprav 4, no. 4 (December 29, 2020): 251–55. http://dx.doi.org/10.31733/2078-3566-2020-4-251-255.
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Ethnic criminal groups are particularly dangerous today, as they are transnational in nature and difficult to detect. The increase in the number of ethnic criminal groups is due to social, economic and political instability, as well as the consequences of the COVID-19 pandemic. It is important in this aspect to identify the socio-psychological portrait of the leader of an ethnic criminal group, which directs the actions and is the driving force behind the activities of ethnic criminal groups. The leader of ethnic criminal groups is characterized by a set of social and psychological qualities: a high level of initiative and activity, organizational experience, interest in achieving group goals, awareness of group affairs, camaraderie, personal attractiveness, high prestige and authority in the group. The main socio-psychological characteristics of leaders of ethnic criminal groups are the following characteristics: social origin, worldview and main motives of criminal activity, general characteristics of the offender, personal characteristics (main qualities of the offender, psychological type, presence of syndromes, individual characteristics, relationships in the social group). emotional characteristics, logic of thinking), general characteristics of a successful criminal. A clear definition of the leader of an ethnic criminal group, taking into account its socio-psychological characteristics will ensure the successful work of law enforcement agencies in the fight against organized crime. Counteracting and detecting crimes committed by ethnic criminal groups requires a detailed study of the socio-psychological characteristics of leaders and members of such criminal groups.
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Rushchyshyn, Nadiya, Tetyana Medynska, Uliana Nikonenko, Zoryana Kostak, and Roksolana Ivanova. "REGULATORY AND LEGAL COMPONENT IN ENSURING STATE’S FINANCIAL SECURITY." Business: Theory and Practice 22, no. 2 (August 24, 2021): 232–40. http://dx.doi.org/10.3846/btp.2021.13580.
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The purpose of the study is to scientifically substantiate the place and role of regulatory support in the formation of financial security, study the factors influencing its level and identify ways to improve it. The study used general scientific and special research methods: analysis, synthesis, methods of systematization and logical generalization − when disclosing the theoretical provisions of the financial security of the state and its legal regulation; correlation and regression analysis, econometric methods and models − to determine and study the influence of factor values on the volume of gold and foreign exchange reserves of the NBU; method of expert assessments − when developing recommendations for the formation of an effective mechanism for ensuring the financial security of the state, a graphical method. The nature and significance of the legal support of financial security are outlined, which is aimed at creating an improved legal framework and a system for controlling financial business entities in order to detect and prevent financial crimes. The factors influencing the level of the state’s financial security are considered. Their influence on the volume of gold and exchange reserves of the National Bank of Ukraine which in the conditions of financial stability should be balanced is determined. The mechanism to ensure the state’s financial security is offered, which further contributes to the implementation of a set of legal, structural and organizational, procedural, personnel, technological and resource tasks. In the future special attention should be paid to improving the current legal framework that would protect the interests of entities of a financial system from illegal encroachment and help recover offense damages. All these measures will contribute to raising the level of the state’s financial security and will help integrate the state into the international financial and economic space.
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Sliter, John. "Canada: New Technological Developments to Detect Electronic Crime in the Securities Industry." Journal of Financial Crime 6, no. 1 (March 1998): 77–80. http://dx.doi.org/10.1108/eb025867.
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Ali, Shazeeda. "Criminal minds: profiling architects of financial crimes." Journal of Financial Crime 28, no. 2 (February 3, 2021): 324–44. http://dx.doi.org/10.1108/jfc-11-2020-0221.
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Purpose The purpose of this paper is to construct a profile of a financial criminal, with special emphasis on their psychological attributes. The objective is to determine if such a profile can provide a valuable tool for detecting perpetrators of financial crime and for implementing risk-reduction strategies. Design/methodology/approach The approach involved a review of various personality disorders and other mental health issues, as well as an analysis of a number of cases involving serious financial crime, to ascertain whether the behaviour of the perpetrators was consistent with certain psychological challenges. In addition, the study examined various motivators for the commission of the financial crime. Findings The research revealed some key commonalities among the perpetrators of financial crime and that their behaviour was often consistent with that of a person afflicted with a personality or other psychological disorder. Originality/value The study provides a comprehensive analysis of various personality and other psychological challenges afflicting a number of offenders involved in financial crime. It also provides some critical findings that could be valuable for those charged with establishing measures to prevent and detect financial crime.
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Fendel, Ralf, and Hanno Stremmel. "Characteristics of Banking Crises." Jahrbücher für Nationalökonomie und Statistik 236, no. 3 (May 1, 2016): 349–88. http://dx.doi.org/10.1515/jbnst-2015-1018.
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Abstract This paper compares determinants of banking sector crises using an early warning system approach in a diverse cross-country panel. We cover 152 countries using annual data from 1990 to 2011. We provide three main contributions: (i) accommodating different influences on banking sector fragility (banking sector, macroeconomic and structural features) in a wide country panel; (ii) introducing a variable accounting for geographical contagion effects; and (iii) cross country comparison based on two subsamples: advanced and developing countries. We find systematic differences between country groups and evidence for the influence of geographical contagion effects. The specification produces reliable early warning signals to detect crisis events on the banking sector level.
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Liodorova, Jūlija, Jūlija Barkauskas, and Ruta Šneidere. "Detecting Asset Misappropriation: Forensic Accounting." SOCRATES. Rīgas Stradiņa universitātes Juridiskās fakultātes elektroniskais juridisko zinātnisko rakstu žurnāls / SOCRATES. Rīga Stradiņš University Faculty of Law Electronic Scientific Journal of Law 2, no. 20 (2021): 287–300. http://dx.doi.org/10.25143/socr.20.2021.2.287-300.
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The main task of the investigation of asset misappropriation is the correct classification of a crime: identification of the fact of misappropriation and determination of the amount of misappropriated assets. Specificity of asset diversity, asset accounting requirements, and a wide range of misappropriation opportunities require specialised knowledge in accounting and economics that investigators often lack. The aim of the study is to increase the knowledge of investigators in forensic accounting in order to increase effectiveness of investigations in detecting asset misappropriation. In this article, the authors, Latvian and Lithuanian accounting experts, talk about typologies of asset misappropriation and ways to detect misappropriation. The authors have compiled a list of red flags for misappropriation of assets and proposed an algorithm for determining the shortage or surplus of assets using forensic accounting methods. Research methods include: qualitative and quantitative methods of economic science, analysis of international standards and scientific literature, and graphical analysis.
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Veresha, Roman. "Criminal and legal characteristics of criminal intent." Journal of Financial Crime 24, no. 1 (January 3, 2017): 118–28. http://dx.doi.org/10.1108/jfc-02-2016-0013.
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Purpose This paper aims to consider the problems related to criminal legal characteristics of the crime objective and to analyze specific features of the crime objective as the subjective aspect of crime. Design/methodology/approach Research methodology used in studying the criminal legal characteristics of the crime objective was based on the dialectical method of scientific cognition of the social and legal phenomena, its laws and categories. The author used general scientific research methods, systematic, historical, logical and functional, and observation, analysis, comparison and the empirical sociological method. Findings Definition of the crime objective as one of the subjective aspects related to the socially dangerous act will be helpful to detect the real causes of crime and to apply the right type and term of punishment. The crime objective should be understood as the important, well-defined features of conscious mental image of the future desired result, which determines the orientation and order of various actions aimed at crime commitment. Originality/value The paper substantiated the need to determine crime objective as one of the signs of the subjective aspect of crime. This will reveal the real causes of crime and apply the right type and term of punishment. It was established that the crime objective was a psychological phenomenon, and the question of its analysis and study had to be settled with regard to psychology and criminology, which will influence its cognition. The paper provided a definition of crime objective. Based on a scientific approach to the theoretical definition of the objective in the criminal law and the place in the subjective aspect of crime, the author presumed that crime objective had to be regarded as an optional feature of the subjective aspect of crime.
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Elekes, Edit. "The conditions of security in sustainable rural economics." Applied Studies in Agribusiness and Commerce 8, no. 1 (August 31, 2014): 51–57. http://dx.doi.org/10.19041/apstract/2014/1/6.
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This work aims to map the potentials of safe rural economy. This topic cannot be separated from the processes of globalization and localization, affecting each other, whose positive and negative effects have been focussed on, especially in terms of the protection of security and sustainability or their damaging. In Hungary, sustainable rural economy cannot be achieved only by the rural economy’s systematic stabilization but its present structure and the security system, accompanying the process, also needs to undergo some drastic changes. Sustainable rural economy means a modern economy that aims to keep the rural inhabitants while increases the wealth of the whole society. The legal security of the sustainable local economy is guaranteed by the state in Hungary. The security of the rural areas is provided by the police as an armed force, the auxiliary police, the public place supervision, the local agricultural rangers, the environment wardens, and by the fish- and game-keepers. The Police Act allows cooperation with the further organizations of the society to preserve public order, and to protect property and prevent and detect crimes. The purpose of my thesis is to present security as one of the most important factors to improve the rural areas. I also aim to map the possibilities of improving security (such as cooperation, naming the resources assisting strategic tenders and participation in rural development programs).
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Zhu, Bangzhu, Shujiao Ma, Rui Xie, Julien Chevallier, and Yi-Ming Wei. "Hilbert Spectra and Empirical Mode Decomposition: A Multiscale Event Analysis Method to Detect the Impact of Economic Crises on the European Carbon Market." Computational Economics 52, no. 1 (February 23, 2017): 105–21. http://dx.doi.org/10.1007/s10614-017-9664-x.
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Sprincean, Nicu. "Early warning indicators for macrofinancial activity in romania." Review of Economic and Business Studies 12, no. 1 (June 1, 2019): 137–62. http://dx.doi.org/10.1515/rebs-2019-0087.
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AbstractOverheating of economic and financial activities leads to macrofinancial imbalances that may disrupt financial stability, and can be detected by studying relevant indcators. In this study we developed an aggregate early warning index of macrofinancial activity for Romania over the 1998q1-2020q4 period, employing data from six categories: (i) macroeconomic risks, (ii) bank risks, (iii) activity of corporations and households, (iv) monetary and financial conditions, (v) risk appetite and (vi) external shocks. We determine the utility of these variables from two perspectives: (i) whether these indicators are able to detect overheating of macrofinancial activity in Romania in two periods characterized by systemic crises and (ii) whether these variables successfully minimize various statistical errors involved in forecasting future events. Comparing the evolution of our index with a series of indicators that measure investors’ perception of macrofinancial stability or the probability of default of Romanian economy, we note the positive correlation between these two, but our index exhibits a more pronounced early warning component, making it extremely useful in anticipating future systemic crises.
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Hagendorff, Jens, Kevin Keasey, and Francesco Vallascas. "When Banks Grow Too Big for Their National Economies: Tail Risks, Risk Channels, and Government Guarantees." Journal of Financial and Quantitative Analysis 53, no. 5 (August 22, 2018): 2041–66. http://dx.doi.org/10.1017/s0022109018000327.
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Banks are growing ever larger compared to their national economies. We show that increases in relative bank size (measured as a bank’s liabilities divided by national GDP) are linked to banks displaying higher tail risk. This effect is not entirely due to risk channels that disproportionately expose relatively large banks to systematic tail risks, sovereign risks, or banking crises. Instead, we detect a persistent component in the tail risk of relatively large banks that is bank-specific and connected to government guarantees. Furthermore, as banks grow in relative size, tail risks are shifted to debtholders without wealth gains for shareholders.
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Zefinescu, Carmen Veronica, Marian Cătălin Voica, and Panait Mirela. "Foreign Direct Investment." International Journal of Sustainable Economies Management 8, no. 2 (April 2019): 36–48. http://dx.doi.org/10.4018/ijsem.2019040103.
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The world economy is in constant change, the action of multiple forces is sometimes divergent. Transnational corporations and foreign direct investment (FDI) are one of the most important forces contributing to the remodeling of the world economy and host countries. In this article, the authors focused their analysis on the factors favoring the attraction of FDI by the host countries and the motivation of the transnational companies to investment abroad. In the final part of the article, the authors analyzed the flows of FDI for the period 2000-2014. The objectives of this article are to detect changes that have been made to companies' determinants to invest abroad and the evolution of FDI flows, given the period of global economic crises.
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Safitri, Rina, Sugiyanto Sugiyanto, and Sri Sulistijowati Handajani. "Model Deteksi Krisis Indonesia dengan Indikator Suku Bunga Simpanan Riil." Majalah Ilmiah Bijak 16, no. 2 (September 25, 2019): 93–97. http://dx.doi.org/10.31334/bijak.v16i2.510.
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The financial crisis is a condition where a country's finances experience a disruption which is characterized by a drastic increase in the inflation rate, a weakening currency exchange rate, and a decrease in other economic activities. Indonesia experienced financial crises in 1997 and 1998 which resulted in a collapse of financial conditions and national stability. Therefore, it is necessary to have a model to find out the crisis, so that efforts to recover the impact of the crisis can be done as early as possible from the model. This study aims to apply the Markov Switching Error Correction Model to detect a crisis. Based on the indicator of real deposit interest rates it can be concluded that the MS-ECM can explain the crisis that occurred in mid-1997 and late 2005
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Zhu, Bangzhu, Shujiao Ma, Rui Xie, Julien Chevallier, and Yi-Ming Wei. "Erratum to: Hilbert Spectra and Empirical Mode Decomposition: A Multiscale Event Analysis Method to Detect the Impact of Economic Crises on the European Carbon Market." Computational Economics 52, no. 1 (March 31, 2017): 123. http://dx.doi.org/10.1007/s10614-017-9679-3.
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Sutrisno, Hadi, Dyah Wulan Sari, and Rossanto Dwi Handoyo. "Vulnerability Analysis of Macroeconomic Indicators for Early Detection of Currency Crisis: Case Study of Indonesian Economy on 1991–2019." Journal of International Commerce, Economics and Policy 12, no. 02 (February 22, 2021): 2150006. http://dx.doi.org/10.1142/s179399332150006x.
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The purpose of this study is to detect the currency crisis in Indonesia by exploring the vulnerability of macroeconomic variables. The Exchange Market Pressure Index was used to determine the crisis period by modeling the threshold value. Early indicators were determined using the signal analysis approach; therefore, the vulnerability level of each macroeconomic variable is known and used to determine the leading indicators. The result showed that the Signal Analysis and Herrera–Garcia approaches are the best detection models. Furthermore, it was concluded that the Signal Analysis approach was better in detecting crises compared to the Herrera–Garcia approach.
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M, Kavitha, Mohamed Mansoor Roomi S, K. Priya, and Bavithra Devi K. "State model based face mask detection." International Journal of Engineering & Technology 7, no. 2.22 (April 20, 2018): 35. http://dx.doi.org/10.14419/ijet.v7i2.22.11805.
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The Automatic Teller Machine plays an important role in the modern economic society. ATM centers are located in remote central which are at high risk due to the increasing crime rate and robbery.These ATM centers assist with surveillance techniques to provide protection. Even after installing the surveillance mechanism, the robbers fool the security system by hiding their face using mask/helmet. Henceforth, an automatic mask detection algorithm is required to, alert when the ATM is at risk. In this work, the Gaussian Mixture Model (GMM) is applied for foreground detection to extract the regions of interest (ROI) i.e. Human being. Face region is acquired from the foreground region through the torso partitioning and applying Viola-Jones algorithm in this search space. Parts of the face such as Eye pair, Nose, and Mouth are extracted and a state model is developed to detect mask.
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Arestis, Philip, and Sixia Zhang. "Are there irrational bubbles under the high residential housing prices in China’s major cities?" Panoeconomicus 67, no. 1 (2020): 1–26. http://dx.doi.org/10.2298/pan2001001a.
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House prices in the main cities of China have been rising to historically high levels. Unsustainable growth of housing prices might cause financial crises and damage the whole economy. This research aims to detect whether bubbles dominate China?s real estate market. It begins by systematically analysing the features of China?s real estate sector, followed by proposing a theoretical framework to identify the fundamentals of house prices and decompose house prices into cyclical and bubble components. It then applies the vector error correction model and other econometric techniques to testify the theoretical framework with data of seven Chinese cities from 2008M01 to 2017M12. The main findings of this research include the following four parts. Firstly, the residential housing market of Shanghai was exposed to the irrational bubble issue, but the rest six cities examined were at safe positions. Secondly, both long-run and short-run relationships between economic fundamentals and house prices have been verified. Thirdly, economic regulations also have significant effects on house prices. Finally, this research suggests that the root cause of the high housing prices in major cities in China is due to the excessive capital injection into the residential property market.
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Liu, Anqi, Jing Chen, Steve Y. Yang, and Alan G. Hawkes. "The Flow of Information in Trading: An Entropy Approach to Market Regimes." Entropy 22, no. 9 (September 22, 2020): 1064. http://dx.doi.org/10.3390/e22091064.
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In this study, we use entropy-based measures to identify different types of trading behaviors. We detect the return-driven trading using the conditional block entropy that dynamically reflects the “self-causality” of market return flows. Then we use the transfer entropy to identify the news-driven trading activity that is revealed by the information flows from news sentiment to market returns. We argue that when certain trading behavior becomes dominant or jointly dominant, the market will form a specific regime, namely return-, news- or mixed regime. Based on 11 years of news and market data, we find that the evolution of financial market regimes in terms of adaptive trading activities over the 2008 liquidity and euro-zone debt crises can be explicitly explained by the information flows. The proposed method can be expanded to make “causal” inferences on other types of economic phenomena.
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Carreira, Pedro, and Carlos Gomes da Silva. "Assessing the omission of records from a data set using Benford’s law." Journal of Financial Crime 23, no. 4 (October 3, 2016): 798–805. http://dx.doi.org/10.1108/jfc-10-2015-0060.
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Purpose The purpose of this paper is to propose a methodology to estimate the number of records that were omitted from a data set, and to assess its effectiveness. Design/methodology/approach The procedure to estimate the number of records that were omitted from a data set is based on Benford’s law. Empirical experiments are performed to illustrate the application of the procedure. In detail, two simulated Benford-conforming data sets are distorted and the procedure is then used to recover the original patterns of the data sets. Findings The effectiveness of the procedure seems to increase with the degree of conformity of the original data set with Benford’s law. Practical implications This work can be useful in auditing and economic crime detection, namely in identifying tax evasion. Originality/value This work is the first to propose Benford’s law as a tool to detect data evasion.
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Benning, Joseph F. "Following the Dirty Money: Does Bank Reporting of Suspicious Activity Pose a Threat to Drug Dealers?" Criminal Justice Policy Review 13, no. 4 (December 2002): 337–55. http://dx.doi.org/10.1177/088740302237803.
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This article examines implementation of newregulations designed to suppress, detect, and prosecute money laundering. The new regulations require banks to report suspicions of client money laundering to the federal government. Previously, banks were simply required to report all cash transactions greater than $10,000. This article explores the new regime’s likely efficacy using ordinary least squares regression to test the significance of narcotics trafficking on state-level variation in bank suspicious activity reports, controlling for the general level of crime, economic indicators, population variables, and proximity to drug-smuggling routes. Narcotics trafficking activity and proximity to smuggling routes each predict significant increases in suspicious activity reports, which suggests an identifiable spatial link between narcotics trafficking and dirty money bank accounts. This suggests that following the dirty money trail may present authorities with a means to prosecute money laundering cases against drug dealers who are the beneficial owners of such accounts.
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Kuruppu, Nirosh. "Uncovering Financial Shenanigans: Benford’s Law as a Computer Assisted Analytical Procedure." International Journal of Business and Management 15, no. 7 (June 4, 2020): 37. http://dx.doi.org/10.5539/ijbm.v15n7p37.
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PricewaterhouseCoopers (2020) has reported the highest level of economic crime in their comprehensive annual survey of the issue since it launched more than twenty years ago. Two thirds of respondents indicated that the costs of fraud can reach up to a million dollars each, amounting to approximately ten percent of their annual turnover. Inside perpetrators such as employees commit about 37 percent of these frauds. In this context, a technique known as Benford’s Law can be cost-effectively applied to detect financial fraud which can be invaluable to auditors and other financial professionals. Benford’s technique is founded on the mathematical distribution of integers found in nature and has been shown to be particularly efficient and cost-effective in financial fraud detection. The technique can swiftly flag suspicious transactions from lists of numbers that comprise millions of records when employed as a computer assisted auditing procedure. Despite this, Benford’s Law is not widely used in accounting and finance. One of the key reasons for its limited use is because fraud investigators are often incognizant and unfamiliar with the method, and how it can be implemented in a fraud detection workflow. This paper set forth a concise and organised approach for implementing Benford’s technique as an analytical procedure through the well-known IDEA generalised audit software to flag suspicious transactions, which can then be further investigated. Both the application of the method and its interpretation in situations of both compliance and non-compliance is discussed. The methodology proposed in this paper can be an indispensable aid for fraud investigators in view of the considerable costs associated with economic crime.
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Гнатенко, Ірина Анатоліївна. "КОНЦЕПТУАЛЬНІ ПІДХОДИ ДО УПРАВЛІННЯ МАЛИМИ ПІДПРИЄМСТВАМИ З УРАХУВАННЯМ КРИТЕРІЇВ ЕКОНОМІЧНОЇ БЕЗПЕКИ ТА ЖИТТЄВОГО ЦИКЛУ ПІДПРИЄМСТВА." Bulletin of the Kyiv National University of Technologies and Design. Series: Economic sciences 123, no. 3 (January 13, 2019): 47–56. http://dx.doi.org/10.30857/2413-0117.2018.3.4.
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The paper focuses on the need for enhancing small business development as a mandatory component of a market-based economic system. A thorough comprehensive analysis has been performed to reveal the characteristic features of modern entrepreneurship, providing insights into small business management basics in terms of the criteria of economic security and the enterprise life cycle. To solve the research problem set, the following research methods were employed: a method of abstract logic (to detect regularities of processes, phenomena and trends in the development of small businesses) and a monographic method (to study the organizational and management principles of small business). Recommendations and tips for managing small businesses are offered taking into consideration a set of criteria and economic security indicators for small enterprises. The key criteria for small business economic security refer to its development capacity; depreciation of physical facilities and resources; financial and economic performance indicators; the crime rate as to business entities; the system viability to ensure the appropriate level of commercial confidentiality as well as property and private safety of businesses. It is proved that any life cycle stage of a small business development should involve a range of clear, consistent and coordinated management actions to implement the business goals. Evidence has been provided that to prevent bankruptcy and small business liquidation at any stage of its life cycle it is critical to implement the effective management paradigm which will mitigate the effects of external environment threats and maintain the optimum life cycle development of small businesses. It is argued that a correct choice of strategic guidance promotes the sustainable development of small businesses, enhances their economic security, assures products and services competitiveness, etc.
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Sarker, Niluthpaul, and Probir Kumar Bhowmik. "Bank Liquidity Risk: Significance of Financial Disclosure and Governance Practice." Asian Economic and Financial Review 11, no. 9 (September 8, 2021): 724–44. http://dx.doi.org/10.18488/journal.aefr.2021.119.724.744.
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The objective of the study is to show the remedial effect of bank liquidity risk in the marketplace by disseminating financial information and practicing corporate governance mechanisms. The link between financial disclosure, corporate governance, and banks' liquidity risk management in Bangladesh is examined in this paper. The study used panel data on 32 commercial banks from the 2008 to 2018 with 346 observations collected from published annual reports. Based on the preliminary diagnosis, the study chose the two-stage least squares (2SLS) regression method to minimize the errors arising from heteroskedasticity, autocorrelation, and endogeneity issues. The study found that adequate financial disclosure and corporate governance practices minimize bank liquidity risk to maintain a stable image in the minds of investors and withstand immense regulatory pressure. To allow banks to detect issues early, they must implement changes quickly and be more robust to crises, thus risk management efficacy and excellent corporate governance implementation are required. Moreover, banks are mainly concerned about liquidity risk as it directly affects the market's performance and stability. Liquidity crises can be eradicated by proper monitoring and providing information pertaining to risks to prudent investors in a reliable and transparent corporate culture.
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Collier, Paul M. "Valuing intellectual capacity in the police." Accounting, Auditing & Accountability Journal 14, no. 4 (October 1, 2001): 437–55. http://dx.doi.org/10.1108/eum0000000005870.
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Presents a case study of intellectual capital within the police service of the UK. Describes the acquisition and maintenance of intellectual capacity through five mechanisms and explores the ways in which the utilization of intellectual capacity is reported. Makes two contributions to the emerging debate on intellectual capital. First, differentiates intellectual capital as an investment in the stock of knowledge from intellectual capacity as the flow or utilization of that knowledge. Second, emphasizes the difference between the (instrumental) value of intellectual capital in pursuit of purposes and the (representational) value of intellectual capital as contained in published reports. Concludes that intellectual capacity is essential for the police to prevent and detect crime, and to maintain public order, road safety and the confidence of the public. Despite the limitations of traditional accounting measures, the paper argues that those who report performance should value intellectual capital rather than be concerned with reporting its value through financial or quantitative metrics.
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Shah, Aasif, Malabika Deo, and Wayne King. "What econo-physics can tell us about Korean equity market co-movements?" Journal of Economic Studies 43, no. 4 (September 12, 2016): 549–73. http://dx.doi.org/10.1108/jes-04-2015-0058.
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Purpose The purpose of this paper is to derive crucial insights from multi-scale analysis to detect equity return co-movements between Korean and emerging Asian markets. Design/methodology/approach Wavelet correlation, wavelet coherence and wavelet clustering measures are used to uncover Korean equity market interactions which are hard to see using any other modern econometric method and which would otherwise had remained hidden. Findings The authors observed that Korean equity market is strongly integrated with Asian equity markets at lower frequency scales and has a relatively weak correlation at higher frequencies. Further this correlation eventually grows strong in the interim of crises period at lower frequency scales. The authors, however, do not found any significant deviation in dendrograms generated in data clustering process from wavelet scale 2 to 6 which are associated with four and 64 weeks period, respectively. Overall the findings are relevant and have strong policy and practical implications. Originality/value The unique contribution of this paper is that it introduces wavelet clustering analysis to produce a nested hierarchy of similar markets at each frequency level for the first time in finance literature
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Gaillard, Norbert. "Assessing sovereign risk: the case of rich countries." Journal of Financial Economic Policy 6, no. 3 (July 29, 2014): 212–25. http://dx.doi.org/10.1108/jfep-03-2014-0017.
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Purpose – This paper aims to shed new light on the inability of credit rating agencies (CRAs) to forecast the recent defaults and so-called quasi-defaults of rich countries. It also describes how Moody’s sovereign rating methodology has been modified – and could be further improved – to solve this problem. Design/methodology/approach – After converting bond yields into yield-implied ratings, accuracy ratios are computed to compare the respective performances of CRAs and market participants. Then Iceland’s and Greece’s ratings at the beginning of the Great Recession are estimated while accounting for the parameters included in the new methodology implemented by Moody’s in 2013. Findings – Market participants outperformed Moody’s and Standard & Poor’s in terms of anticipating the sovereign debt crisis that hit several European countries starting in 2008. However, the new methodology implemented by Moody’s should lead to more conservative and accurate sovereign ratings. Originality/value – The chronic inability of CRAs to anticipate public debt crises in rich countries is dangerous because the countries affected – which are generally rated in the investment-grade category – are substantially downgraded, amplifying the sovereign debt crisis. This study is the first to demonstrate that Moody’s has learned from its recent failures. In addition, it recommends ways to detect serious threats to the creditworthiness of high-income countries.
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В.М., Домрачев, and Третиник В.В. "Моделювання впливу економічного середовища на показники діяльності українського банку." Economics and Management, no. 86(1) (February 28, 2020): 118–27. http://dx.doi.org/10.36919/2312-7812.1.2020.118.
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With the framework of a market economy development in Ukraine and the growth of integration into the world economic community, increasing the stability of the country’s banking system is of paramount importance. This issue becomes especially relevant during the increased volatility of world capital markets in economic crises, which creates the need for the National Bank of Ukraine to implement meaningful, risk-oriented banking supervision, and commercial banks to introduce measures to improve the effectiveness of crisis planning and forecasting. . One of the measures is stress testing. There are four main methods of stress testing: the method of elasticity, the method of estimating losses, scenario and index method. The script method is applied in this paper. The essence of this method is to compare the basic forecast of the object’s dynamics of stress testing under different economic shocks. An economic-mathematical model of vector autoregression was used to construct the scenario. This class of models is a system of interconnected equations, the number of which strictly corresponds to the value of independent variables. The choice of VAR model is determined by the ability to detect simultaneous and lag relationships between variables. The paper proposes a model of the influence of macroeconomic variables dynamics on the performance of Ukrainian banks. The MatLab Econometrics Toolbox modeling environment is used to build the model. The coefficients of the model are calculated, the forecast data of the IMF and the CMU substitute the data for 2020. The model estimates the values of indicators that characterize the state of the banking system in Ukraine. The MatLab Econometrics Toolbox software package provides the ability to calculate the scenario values of the analyzed VAR model variables. The result of the forecast, according to the model, is that with the current dynamics of changes in interest rates, growth of money supply M2, the level of capital of the banking system of Ukraine will decrease in 2020 due to the losses of many banks.
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BenYoussef, Nourhene, and Saqib Khan. "Identifying fraud using restatement information." Journal of Financial Crime 24, no. 4 (October 2, 2017): 620–27. http://dx.doi.org/10.1108/jfc-07-2016-0046.
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Purpose The purpose of this paper is to analyze the restatement information disclosed in the Form 8K and the Press Release. It examines the relationship between manipulating the quantity, quality, manner and timing of restatement information and the probability of committing fraud. Design/methodology/approach The authors used 18 informational indicators developed by BenYoussef and Breton (2016), and applied the prediction methodology based on F-scores, developed by Dechow et al. (2011). Findings Results indicate that the information content of restatement announcements provides significant insights into the likelihood of fraud occurrence. A firm that manipulated previous earnings will continue to do so, and will try to mislead investors by releasing inaccurate and incomplete information in the Form 8K and the Press Release. The model helps identify this manipulation and hence can be used as a tool for fraud detection. Research implications/limitations This paper applies the constructs drawn from Information Manipulation Theory to restatement contexts to detect fraud. Practical implications The paper is of use to regulators, investors and financial crime experts, as it provides insights to better fraud detection. Originality/value The paper is based on proprietary data that were hand collected, and is being used first time to predict fraud.
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Lovreta, Lidija, and Joaquín López Pascual. "Structural breaks in the interaction between bank and sovereign default risk." SERIEs 11, no. 4 (August 12, 2020): 531–59. http://dx.doi.org/10.1007/s13209-020-00219-z.
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AbstractThe recent financial and sovereign debt crises emphasized the interdependence between bank and sovereign default risk and showed that major shocks may lead to a self-reinforcing negative spiral. In this paper, we analyse the pattern of interaction between bank and sovereign default risk by endogenously estimating the timing of structural breaks. The endogenous approach avoids the problem of choosing the number and the location of important turning points associated with the exogenous selection of break dates, commonly applied in the literature. In addition, it provides additional insight to which (if any) of the many exogenously proposed breaks are of particular importance to one specific economy, which can help policy makers to structure their actions accordingly. Using Spain during the 2008–2012 period as an illustrative example, we find supporting evidence for the three distinctive phases, marked by the breaks in the early-January and mid-May 2010. The three phases are characterized with an evident change in the bank–sovereign interaction, and we detect a bi-directional relationship only during the interim phase, i.e. at the very peak of the European sovereign debt crisis. We show that endogenously identified turning points coincide with important public events that affect investors’ perception about the government’s capacity and willingness to repay debt and support distressed banks. Finally, we provide evidence that structural dependence in the system extends to the interaction between bank and sovereign default risk volatility.
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Račickas, Evaldas, and Asta Vasiliauskaitė. "ANALYSIS OF FINANCIAL CRISIS CONTAGION INDICATORS." Science and Studies of Accounting and Finance: Problems and Perspectives 8, no. 1 (December 25, 2012): 197–206. http://dx.doi.org/10.15544/ssaf.2012.28.
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The financial crisis in the last decades has become a common phenomenon. However, due to the process of globalization, financial markets’ integration and their interdependency, financial crisis tend to evolve and gain not only regional but also global scale. In the context of financial market liberalization, globalization and internalization, the subsequences caused by financial risk and financial crises contagion become more visible and more severe. The financial crisis that originated in one region of the world through the rapid process of financial markets’ globalization may spread worldwide and adversely affect other geographical regions, thus causing serious problems and disruption throughout the whole global financial system in the way of destabilizing it. Although it is not easy to forecast crises with high reliability, recently a lot of scientific researches were done on the analysis of financial crisis indicators. Early warning system of forthcoming crisis that uses a lot of different economical and financial indicators can indeed be a useful tool for preparation for the coming financial crisis, for evaluating subsequences of crisis to a country’s economy and for assessing the impact of financial crisis future vulnerabilities. In the article all the financial crisis indicators which are presented in scientific literature are examined systemically and classified into four main groups. The main finding is that all the financial crisis indicators differ in their significance on financial crisis contagion. Moreover, all indicators and their observance simultaneously let both academics and politicians to evaluate the current economic situation and to determine if a country is struck by financial crisis or not. By using system of financial crisis indicators it could help to detect contagion at an earlier stage and help to prepare for the forthcoming crisis and to prevent from huge losses when the financial crisis hits. After all, the knowing of financial crisis contagion indicators system could be extremely valuable in developing appropriate financial risk management strategies.
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Ruuhwan, Ruuhwan, Randi Rizal, and Rizal Kurniawan. "Pendeteksi Gerakan Menggunakan Sensor PIR untuk Sistem Keamanan di Ruang Kamar Berbasis SMS." Jurnal Informatika Universitas Pamulang 5, no. 3 (September 30, 2020): 281. http://dx.doi.org/10.32493/informatika.v5i3.5706.
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Room safety is very important considering that the crime scene is very disturbing to the public, one of which is the usual theft case. This might be caused partly because of economic factors that cause people to sometimes take shortcuts to make ends meet by stealing. So the PIR sensor sensor tool was made to detect human movements making it easier for us to control security when leaving a room empty, the media used is Mobile, by utilizing SMS facilities. The purpose of this research is the implementation of the PIR sensor as a detector of human motion in a room based on sms. This tool consists of a sensor that is a pir sensor as a detector of human motion around, and the bazzer will sound every time there is a movement that is captured by a pir sensor, a GPRS Shield which has a sim card inside that works to send SMS. This type of research used is qualitative research with experimental methods, namely by conducting a cona test (trial and error) for mechanical and electronic design components of the hadware and trying to explain. From this research produced information provider using two KC7738 PIR-based SMS sensors can be applied by the public so that they can provide information when leaving a room empty.
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Abdel-Baki, Monal, and Valerio Leone Sciabolazza. "A consensus-based corporate governance paradigm for Islamic banks." Qualitative Research in Financial Markets 6, no. 1 (April 1, 2014): 93–108. http://dx.doi.org/10.1108/qrfm-01-2013-0002.
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Purpose – Islamic banking is a viable sustainable banking model that has shown resilience to financial crises. The aim of this research is to design a consensus-based ethical and market-driven corporate governance index (CGI) to boost financial performance and ensure compliance with Islamic rulings. Design/methodology/approach – The design of the CGI is the outcome of the feedback obtained from a cross-country survey to measure bank efforts in enhancing corporate governance (CG) throughout the ten-year period of 2001-2011. The CGI is divided into six core CG themes and 40 sub-themes. Findings – First, the results of the multiple regression analysis show a consistent positive relationship between CG and financial performance metrics. Second, the authors detect misaligned compensation structures for directors. Third, poor governance leads to higher risk exposures. Research limitations/implications – CG in Islamic banks is yet an evolving discipline and infant practice. This research aims to introduce a CGI that should be updated and improved as the discipline evolves. Practical implications – The research concludes by proposing a CG paradigm. The outcome of the research could also be of use to both Islamic banks and to the rapidly growing sustainable banking sector in designing a similar CGI and CG model incorporating the ethical features of sustainable finance. Social implications – The core ethos of Islam are: avoiding the exploitation of the needy, avoiding excessively risky transactions, avoiding unethical transactions and justice, equity and income redistribution. If properly applied, Islamic banking will display all features of sustainable finance as well as enhance social welfare. Originality/value – To the best of the authors' knowledge, this is the first CGI that is based on an ethical and all-inclusive input of all stakeholders.
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Afreen, Maria. "Building Vulnerability Predictive Indicator for the Banking Sector." International Journal of Finance & Banking Studies (2147-4486) 9, no. 3 (July 2, 2020): 01–14. http://dx.doi.org/10.20525/ijfbs.v9i3.704.
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Abstract
For risk and capital measurement, banks and other financial institutions need to meet forthcoming regulatory requirements. However, it is a serious issue to think that meeting regulatory requirements is the sole or even the most important reason for establishing a scientific, sound risk management system. To direct capital to activities with the best risk/reward ratios, managers need reliable risk measures. To stay within the limits imposed by readily available liquidity, by creditors, customers, and regulators, they need estimates of the size of potential losses. They need mechanisms to monitor positions and create incentives for prudent risk-taking by divisions and individuals. Risk measurement deals with the quantification of risk exposures, whereas risk management refers to the overall process by which managers satisfy these needs and follows to define a business strategy, to detect the risks to which are visible, quantifying those risks, and to control and understand the nature of the risks it faces. This research focuses on the economic vulnerability faced by banks in the financial sector in terms of the crises issues perspective of economic distress. Here, the methodology followed is based on the CAMELS framework variables. CAMELS is an abbreviation for: capital adequacy (C), asset (A), management (M), earnings (E), liquidity (L) and sensitivity to market risk (S). Based on these terminologies, a couple of variables should be selected, such as capital asset ratio, non-performing loan, cost income ratio, industry production index, non-interest income, reserve of gold, inflation, stock turnover ratio, real interest rate as component series and return on equity (RoE) as reference series to identify the turning points of economic vulnerability in the banking sector in Bangladesh. Thus, by forecasting the directional changes it could make policymakers aware of changes in the financial markets and banking economy and allow them to undertake preventive steps for remedial purposes. The constructed MPI should have a remarkable lead time of about not less than 6 months on average in case of prediction against the leading for reference Series.By mending the financial efficacy of investment banks. Bangladesh also should improve their corresponding banking system to implement these suggestions.
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Ben Abdelkader, Ines, and Faysal Mansouri. "Performance of microfinance institutions in the MENA region: a comparative analysis." International Journal of Social Economics 46, no. 1 (January 14, 2019): 47–65. http://dx.doi.org/10.1108/ijse-06-2017-0242.
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Purpose The purpose of this paper is to provide preliminary efficiency assessment of Arab microfinance institutions (MFIs) within the period 2002–2012. Microfinance is defined as the provision of financial services to poor and low-income households and their microenterprises on a sustainable basis. Design/methodology/approach The authors first present the main features of microfinance in the Middle East and North Africa (MENA) region. Second, based on a simple of 72 microfinance institutions issued from ten countries of the region, they develop a bootstrap–data envelopment analysis (bootstrap–DEA) framework to measure Arab MFIs’ efficiency. Finally, they apply parametric and non-parametric tests to compare the performance and identify factors that contribute to the efficiency of Arab Islamic microfinance institutions. Findings Efficiency scores of the MENA region exhibit high variability, both across time and countries. Significant difference in efficiency was found due to MFI age or regulation. Results also reveal the ability of Arab MFIs to combine social and financial performance and their solidity in time of crisis. Originality/value In this paper, the authors apply DEA–bootstrap method on a large sample of Arab MFI with special look at the peer group differences. Unlike most previous relevant studies, the paper overcomes many of the drawbacks of the DEA method by using, in addition to the DEA–bootstrap approach, a test of return to scale and a combination of three procedures to detect outliers. Furthermore, this paper analyses the efficiency of MFI in the MENA region in the light of financial crises and Arab Spring.
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Hasan, Md Shamimul, Normah Omar, Paul Barnes, and Morrison Handley-Schachler. "A cross-country study on manipulations in financial statements of listed companies." Journal of Financial Crime 24, no. 4 (October 2, 2017): 656–77. http://dx.doi.org/10.1108/jfc-07-2016-0047.
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Purpose The purpose of this study is threefold: first, to detect trends in financial statement manipulation; second, to measure the level of manipulation and to measure the variation in manipulation between countries; and, third, to identify widely used techniques in financial statements manipulation. Design/methodology/approach This study uses financial data of listed companies from Asia, namely, Japan, Singapore, Malaysia, Indonesia, Thailand, Hong Kong and China. The study adopts financial ratios, financial forensic tool, dichotomous approach and statistical tools to analyze the data (84,000 observations) over a period of four years from 2010 to 2013. Findings The results show that 34 per cent of sample companies in selected Asian countries are involved in the manipulation of financial statements; the average level of manipulation (overall manipulation index) is 72 per cent; and there is a significant difference between countries at 5 per cent level. The study also identifies four most commonly used techniques, namely: days’ sales in receivable (DSRI), depreciation (DEPI), assets quality (AQI) and total accruals to total assets (TATA). Research limitations/implications Although this study found a significant national difference between countries in terms of practicing manipulation in financial statements, it did not address the issue of why some countries have higher level of manipulation and greater fluctuations in manipulation than others. Further study could be conducted to look for the reasons on these issues. Practical implications Investors and other stakeholders are advised to judge the manipulation in financial statements before fixing up for investment. At least they should examine Sales, Accounts Receivable, Depreciation, Value of Fixed Assets and Accruals data before accepting the financial statement in good faith. Social implications The trend of manipulation in financial statements is increasing day by day and that is why it needs to prevent to protect our society from white collar crime. The cost of white collar crime is much higher and key executives are making money at the expense of investors and other stakeholders. This kind of study creates awareness among stakeholders about the manipulation as well as provides techniques to examine the faithfulness of financial statements. Then, managers will not overstate or understate either revenues or expenses easily, as it can damage the goodwill. Originality/value This is the first study of its kind addressing measurement of manipulation score, overall manipulation index (OMI) and identification of widely used variables of manipulation in financial statements are new contributions towards existing literature of earnings manipulation.
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Minati, Gianfranco. "The Past, Present and Possible Future for Systems." International Journal of Systems and Society 4, no. 1 (January 2017): 1–9. http://dx.doi.org/10.4018/ijss.2017010101.
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In this article, the author briefly summarise the characteristics of the science of complexity or post- Bertalanffy General Systems. The author discusses the shift from considering systems as acquiring properties due to their explicit or supposed design, to self-organised, emergent systems. Characteristics, approaches to modelling and interventions to change vary in nature with the post-Bertalanffy Systemics. While new suitable models and approaches are under study in sciences, such as physics, chemistry, biology, mathematics, engineering, and neurosciences, the author detects significant backwardness when dealing with the complexity of social systems and related problems that are developing in the post-industrial age. These problems include economic crises, security, defence, privacy, managing prisons, and supporting development. Such social problems are inadequately faced by using classical Bertalanffy's systemic concepts or by simply transposing models and changing the meaning of variables. This inadequacy is based on the underestimation of the peculiarities of Human Systems that consist of complex interactions that allow coherence and are also cognitive, informal, learning, evolutionary, ecological and non-governable Luhmannian subsystems. The non-cultural or low-cultural accessibility of the approaches considered by the science of complexity contribute to this inadequacy. Finally, the author presents some comments on how the science of systems may further evolve by considering new types of systems and systemic properties such as systemic fields and quantum systems. He speculates about some possible future understanding of human social systems.
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Perifanis, Theodosios. "Detecting West Texas Intermediate (WTI) Prices’ Bubble Periods." Energies 12, no. 14 (July 10, 2019): 2649. http://dx.doi.org/10.3390/en12142649.
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Oil prices have had considerable surges and bursts since the first oil crisis of 1973. Until then its price was stable, with almost zero volatility. Since then, apart from the two oil crises of 1973 and 1978/9, oil prices had consecutive bubble episodes like the surges up to 2008 and 2014 and their successive bursts, respectively. The trace of these bubble periods is of crucial importance for policymakers, since their drivers and consequences impact global economic developments. Phillips et al. and Phillips et al. methodologies are applied to detect whether West Texas Intermediate prices experienced bubble periods. Both methodologies suggest that WTI prices experienced explosive episodes, which could be fundamentally, speculatively, or politically attributed. Some suggested periods coincide for both methods, but the second methodology seems to be more sensitive than its predecessor is, leading to better bubble detection but also to identification of non-existent bubbles. The identified bubble periods are compared to relevant research in the literature concerning their presence, duration, and explosiveness. The main goal of the research, apart from the detection of bubbles’ presence and duration, is to identify the causal underlying reasons for each explosive episode. Further, we compare the start and endpoints of each bubble episode with time-points when structural changes occurred. The contribution of the paper is that it clearly defines the bubble episodes with their corresponding drivers. The paper identifies the importance of market fundamentals’ swifts in explaining the bubble periods. The findings of the papers can help policymakers and other stakeholders to monitor oil price shifts and their underlying reasons, and then proceed with prompt actions. Since bubble episodes are fundamentally explained, then the practical utility is that by focusing on the market fundamentals, stakeholders can avoid actions that could result in market failures.
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Wysokińska-Senkus, Aneta. "The Concept of Safety and Security Education in the Context of Sustainability." Sustainability 12, no. 12 (June 19, 2020): 5022. http://dx.doi.org/10.3390/su12125022.
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The emergence of safety and security risks is a huge threat to the implementation of sustainability; therefore, safety and security education allows one to detect the symptoms of emerging crises, helps in the appropriate response to that and helps in a quick return to the path of sustainability after crisis conditions would disappear. The development of the concept of safety and security education in the context of sustainability is very important from both a scientific and practical point of view due to the fact that schools play a key role in society constituting the basic source of education for future generations of citizens, shaping awareness, competence and skills of future generations and thus creating a society that is able to analyse the opportunities and threats arising from the changing economic, social, environmental, technological, political and legal environment. The aim of the paper is to indicate the key factors for improving the security and safety education in the context of sustainability and to prepare the recommendations for preparing the security and safety courses. To complete that objective studies, Computer-Assisted Web Interview either with students or with security and safety experts were used in the study. The survey was conducted among two representative samples of high school students in Poland—one sample 418 high school students from regular high schools, and 100 from solitaire classes. The results from the CAWI were discussed with 20 security and safety experts to indicate the learning methods and tools to improve safety and security education. The main finding from the study was that safety and security education must be improved because respondents saw gaps in their knowledge on several issues in the area of safety and security. Modern training methods should be included in safety education, e.g., e-learning platforms, Serious games, social media, virtual worlds, simulators, integrated systems using e.g., kinect, VR goggles, accessories, mobile technologies.
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Khodary, Yasmin, and Nehal Hamdy. "FGM in Egypt between socio-cultural barriers and lack of political will." Journal of Aggression, Conflict and Peace Research 11, no. 4 (October 3, 2019): 252–62. http://dx.doi.org/10.1108/jacpr-03-2019-0406.
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Purpose This study aims to detect the main factors impeding the anti-female genital mutilation (FGM) efforts in Egypt post the January 25 revolution, with a special focus on the era of president El-Sisi. The purpose of this paper is to explain the reasons behind the continuation of violence against women in Egypt, namely, FGM, in light of the patriarchal structures and the state willingness to address that challenge. Design/methodology/approach The study utilizes a qualitative methodology. The study embarks on in-depth semi-structured interviews with 23 participants who experienced FGM and nine key informants from medical, religious, political and civil society backgrounds, including a professor of pathology, a gynecologist, a diplomatic researcher in Al-Azhar, three members of parliament, a representative of the Ministry of Population, the reporter of the National Council for Women and a representative of Nazra non-governmental organization for feminist studies in Egypt. Findings The findings reveal that FGM remains prevalent not only due to the persisting socio-cultural context that continues to embrace and reproduces gender inequalities, but also because of the insufficient political will to combat FGM and enforce the required laws. Social implications FGM is considered one form of gender inequality perpetuated by social, cultural and economic structures. It is recognized internationally as a crime and a violation against women’s rights as per the Universal Declaration of Human Rights, the Convention on the Elimination of All Forms of Discrimination against Women, the Convention on the Rights of the Child, etc. Although the Egyptian Government passed laws banning the practice of FGM, it continues to form a challenging problem to social workers, women activists, human rights groups and public health officials. Originality/value Little work has been done to investigate FGM post the January 25 revolution in Egypt and identify the main factors impeding the anti-FGM efforts in Egypt. This work fills this gap and concludes with some lessons learnt to fight FGM and improve the anti-FGM efforts.
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Repousis, Spyridon. "Politicians, political parties' funding in Greece and anti-money laundering regulatory framework." Journal of Money Laundering Control 17, no. 1 (January 7, 2014): 110–20. http://dx.doi.org/10.1108/jmlc-07-2013-0027.
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Purpose – The purpose of this paper is to examine politically exposed persons and major Greek political parties' funding sources as well as the anti-money laundering regulatory framework for political parties' funding sources. Design/methodology/approach – This paper aimed at investigating data about Greek political parties' funding by identifying new problems and developing solutions. Findings – The main findings are that Greek political parties' major sources of revenues are public subsidies and bank loans. Also, data show that two major Greek political parties cannot easily repay their bank loans (especially PASOK) and must renegotiate terms with banks and must agree for a new, long-term and lower payment schedule at a lower interest rate. Extending the period of repayment is necessary for viability of debts, and banks will protect themselves against default and total losses of about 253.1 million euros from the two major political parties. Public subsidies are the only collateral that Greek political parties offer to banks. Practical implications – As a result of research, structural changes are necessary to immediately be made in order to cope with politically exposed persons and political parties' corruption and funding in Greece, especially during the current fiscal crises. Greek political parties need to raise funds from other sources than only public subsidies. Anti-Money Laundering Regulatory Framework have to stop conduit contributions and force banks to apply Know Your Client Principle for donors. Also, to include on Suspicious Activity Report a checkbox of “Political Finance Violations”. Establishing a code of conduct informing employees of the risks and subsequences of political corruption, creating a culture of honesty and high ethics and implementing Controlled Foreign Corporation legislation to cope with corruption in political parties' funding can help to recover ill-gotten assets. Finally, implementing Business Principles for Countering Bribery and UK Bribery Act will increase transparency in funding of Greek political parties. Originality/value – The paper examines corruption and funding sources of Greek political parties, especially during the period 2009-2011, suggesting policy measures to deter and detect money laundering and illegal funding to politically exposed persons and political parties. Findings offer important measures for political analysts, government and society as a whole. A stable political system is prerequisite for a healthy society and for economic growth.