Journal articles on the topic 'Regulatory Asset Base'
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1
Newbery, David M. "Determining the regulatory asset base for utility price regulation." Utilities Policy 6, no. 1 (March 1997): 1–8. http://dx.doi.org/10.1016/s0957-1787(96)00015-x.
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Onyschenko, V. O., A. Y. Berezhna, and О. М. Filonych. "Incentive Tariff Regulation of Utilities: Theoretical Basis and Practical Application." PROBLEMS OF ECONOMY 1, no. 47 (2021): 28–44. http://dx.doi.org/10.32983/2222-0712-2021-1-28-44.
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The article aims at studying the manifestation features of the system of incentive tariff regulation of utilities given the need to attract investment to modernize the utilities infrastructure in cities in the field of electricity and centralized water consumption, indicating its risks and benefits. The following methods were used: decomposition, comparative analysis (when considering the methods of tariff calculation based on the "cost plus" principle and on the "rate of return on invested capital and regulatory asset base"), scientific abstraction, systemic approach, construction of scientific hypotheses (when studying the algorithm for the calculation and dynamics of the incentive tariff for electricity distribution services and centralized water consumption). A change in the electricity cost for end consumers under the transition to an incentive tariff for electricity distribution has been modelled. The dynamics of tariffs changes in centralized water consumption services is studied based on the concept of the rate of return on invested capital and regulatory asset base (RAB-methodology), and the number of investment resources that under such conditions can be directed to modernize urban water infrastructure is forecasted. The expediency of different approaches to determining the rate of return on capital (single and differentiated rate) given the legal status of assets is proved. The RAB tariff regulation concept is applied to services in the field of centralized water consumption with the identification of risks and benefits for consumers, service providers and potential investors in the modernization of the industry infrastructure. Given the energy intensity of the services, the impact of the full introduction of the electricity market on the tariffs dynamics and on the need for effective social tension preventers has been identified. The research results prove the necessity and validity of applying incentive tariff regulation in the field of electricity and water consumption, provided that the interests of consumers and service providers are balanced; and allow authorized persons to design a number of appropriate measures to ensure that the service provider invests the established amount of finance in the first regulatory period, given the uncertainty of this issue in the regulations
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Adewole, Clement, Cynthia Muna, and Victor Odumu. "BVN REGULATORY FRAMEWORK AND BANKING SYSTEM STABILITY IN NIGERIA." International Journal of Innovative Research in Social Sciences and Strategic Management Techniques 9, no. 1 (January 9, 2022): 62–79. http://dx.doi.org/10.48028/iiprds/ijirsssmt.v9.i1.07.
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This study examined the effect of BVN Regulatory Framework on banking system Stability in Nigeria. The study adopted a survey research design and Primary data for this study were obtained through questionnaires, which were administered to 213 management staff of the ten (10) selected banks. The data was analyzed using descriptive statistics while spearman rank correlation was used to test the hypotheses. The result indicates that BVN Regulatory Framework have a significant effect on bank capital adequacy, bank liquidity and asset quality in Nigeria. The study concludes that BVN Regulatory Framework have a significant effect on banking system stability in Nigeria. It was recommended that Banks must ensure that Customers Bank Accounts are protected from unauthorized access while implementing BVN regulatory framework so as to avoid running into liquidity problem; In other to maintain a sound capital base, banks must ensure that staff comply strictly to BVN regulatory framework in it operation and Banks should continue to make effective use of BVN regulatory framework in the course of lending and administration so as to maintain high credit portfolio while avoiding cases of non-performing loan.
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Varchenko, O. M., I. Svinous, D. Kachan, S. Khomovyi, and M. Khomovju. "Methodical approaches to the assessment of the reproduction of the agricultural enterprises material and technical base." Ekonomìka ta upravlìnnâ APK, no. 1 (155) (May 21, 2020): 47–55. http://dx.doi.org/10.33245/2310-9262-2020-155-1-47-55.
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The signifcance of the evaluation of the logistical base of agricultural enterprises in the accounting system is revealed in the article. Research methods have been described and alternative approaches to inventory valuation by national and international accounting standards have been investigated, and it has been identifed that there are some inconsistencies in the formation of inventory values at the date of receipt, disposal and balance sheet date. The main features of organization of accounting of land plots in agricultural enterprises are established. To determine the value of the land previously used by the enterprise (for example, on certifcates of ownership and use), we propose to use in the current accounting the estimated value of the land, which is based on the regulatory monetary valuation, determined by differential rental income. It has been found that an integral part of a biological transformation is the assessment of changes in a biological asset, which includes measuring and controlling changes in quality (fat content, protein, fber strength, etc.) or quantity (breeding, weight, etc.). In the course of the research it is determined that the process of accounting and valuation of biological assets at fair value should include such steps as: defning biological assets as an object of accounting according to their classifcation; specifcation of biological assets by species, cultures, rocks and other defning features; active market research and price information and technical and economic information collection; selection of biological asset valuation methodology; the calculation of the fair value of biological assets in accordance with the methodology adopted. An examination of the IFRS 13 "Fair Value Measurement for the measurement of biological assets at fair value" has shown that it should be made from the perspective of all market participants and the market environment should be assigned to the entities themselves. This will take into account the differences that exist between them, as they differ not only in terms of quality but also in the types of economic activity. In order to improve the investment attractiveness of enterprises, it is advisable to evaluate agricultural organizations' land resources according to International Accounting Standards, which provide for fair value. Valuation of assets and liabilities at this cost will increase the transparency of the fnancial statements and the reliability of the information on the fnancial and economic activities of the entity. In addition, in the analysis of fnancial and economic activity of enterprises of the corporate sector of the agrarian economy, a real assessment of land resources will have a positive impact on the normative indicators of liquidity and fnancial stability, which is especially important in the conditions of fnancial crisis and growing need for investment. Key words: material base, resources, inventories, fxed assets, reproduction process, market value, fair price, land valuation, accounting efciency.
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Atuahene, Sampson Agyapong, Kong Yusheng, Geoffrey Benturn-Micah, and Abigail Konadu Aboagye. "Impact of Capital Adequacy on Banks’ Performance: Considering the Basel International Regulatory Framework for Banks." ETIKONOMI 20, no. 1 (February 22, 2021): 45–54. http://dx.doi.org/10.15408/etk.v20i1.15590.
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This study examines the impact of banks' capital on the performance of banks. The studies adopted a fixed-effect model estimation. Time-series data covering the period 2008-2017 for Ghanaian listed universal banks was considered. We found out that the bank’s capital and banks’ net profit after tax has a positive and significant relationship with banks’ total asset base as a performance indicator. We further discovered through correlational analysis that there is a strong negative link between banks' outstanding loans (credit advancement) and banks' performance. The fundamental implications of this study are to encourage the monitoring of capital adequacy of banks since it creates opportunities for banks to perform effectively.JEL Classification: E5, E44, G21, G30How to Cite:Atuahene, S. A., Yusheng, K., Bentum-Micah, G., & Aboagye, A. K. (2021). Impact of Capital Adequacy on Banks’ Performance: Considering the Basel International Regulatory Framework for Banks. Etikonomi: Jurnal Ekonomi, 20(1), 45 – 54. https://doi.org/10.15408/etk.v20i1.15590.
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Feschiyan, Daniela, and Radka Andasarova. "The New Approach for Risk Regulation in Banks." New Challenges in Accounting and Finance 3 (March 2020): 1–13. http://dx.doi.org/10.32038/ncaf.2020.03.01.
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The purpose of this report is to present the necessity of proceeding to new reforms in bank regulation and to increase the stability and risk sensitivity of the capital base under applying the Standardised Credit Risk Assessment Approach (SCRA) in banks. The dynamics in the bank regulation and supervision of credit risk assessment approaches are explored. In the paper, a thorough theoretical-methodological and historical-logical analysis was made of the evolution of the development and chronology of the global regulatory frameworks for banks - Basel 1, Basel 2 and Basel 3. The contemporary projections and challenges for the banks' management under the new regulatory and institutional changes are presented. The SCRA is a positive asset in bank capital regulation in contemporary banking. The revisions to the regulatory framework – Basel 3 by is a long continuous process influenced by numerous economic, social and political factors. The preparation of the Bulgarian banking system for a new reform of financial regulation is analyzed. The need for adoption of a new risk-based approach for capital assessment and the importance of transparency in bank financial reporting is proved.
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Czeczeli, Vivien, and Martin Vilonya. "Exchange Rate Developments of Cryptocurrencies Based on Event Study Analysis." Pénzügyi Szemle = Public Finance Quarterly 67, no. 2 (2022): 231–47. http://dx.doi.org/10.35551/pfq_2022_2_5.
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As the cryptocurrency market dynamically evolves, important financial and economic issues arise. The main focus of the present research is on the price of cryptocurrencies. Following the exploration of the literature base, special emphasis was put on the comparison between the crypto market and markets for different asset classes (gold, stocks, foreign currency) and on the identification of connection points. Next, the article focuses on the period after 2020, and applies the event study methodology in order to establish, how the two cryptocurrencies with the highest market capitalization (Bitcoin and Ethereum) reacted to selected events. These events mainly encompassed hacker attacks aimed at the systems that form the basis of the operation of cryptocurrencies, and also certain steps regarding their regulation and application. Overall, it was established that hacker attacks did not have a significant effect on the exchange rates of the two examined cryptocurrencies. Effects of regulatory action on prices are mixed, however even significant effects can be regarded as short-lived.
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Gerbych, L., and M. Buznyk. "Organizational and informational model of analysis of the financial condition of credit union." Galic'kij ekonomičnij visnik 75, no. 2 (2022): 55–63. http://dx.doi.org/10.33108/galicianvisnyk_tntu2022.02.055.
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The relevance of conducting regular analysis of the financial condition of credit unions as a necessary element of confirming their financial resources for further effective business activities is substantiated. The necessity of building an organizational and information model of such analysis, which includes the purpose and objectives, subjects and objects, system of indicators, information base, methodological support of the analysis and methods of generalization and implementation of its results is proved. The purpose of the analysis of the financial condition of credit union is to identify in a timely manner the factors that cause its deterioration and develop measures to eliminate or minimize their negative impact. The tasks of the credit union's financial condition analysis include the analysis of assets, liabilities, liquidity, solvency, efficiency and profitability. The subjects of the analysis of the financial condition of credit union are divided into external and internal. External entities include the regulator represented by the National Bank of Ukraine; customers; partners; fiscal, judicial authorities; internal ones - governing bodies, collegial and territorial governing bodies, employees of executive units with the functions of financial management. The main indicators of the analysis of the financial condition of credit union are divided into such groups as capital adequacy, asset quality, liquidity, efficiency and profitability and proposed an algorithm for calculating them are proposed in accordance with the requirements of the rules for preparing and submitting reports by participants of the non-bank financial services market, introduced since the beginning of 2022.The information base of the analysis of the financial condition of credit unions as a set of sources of internal and external information, which include financial and statistical reporting, as well as operational data of financial accounting; indicators of credit unions published by the NBU both in the market as a whole and by institutions on a quarterly basis, as well as information on the activities of credit unions posted on the websites of self-regulatory organizations are noted. The review of existing methods for assessing the financial condition of credit unions as its methodological support is carried out and promising area of research for their further improvement is identified. Measures to increase the financial condition of credit unions of Ukraine are proposed.
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Krupka, Yaroslav, and Volodymyr Okrenets. "Cryptocurrency as an object of accounting and a source of economic benefits." Herald of Ternopil National Economic University, no. 3(97) (October 1, 2020): 238–51. http://dx.doi.org/10.35774/visnyk2020.03.238.
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Introduction. Cryptocurrency and related activities in Ukraine are not regulated by specialized law. Transactions with currency «crupto» are increasingly used in the accounting practice of domestic enterprises. The correctness of an accounting of such transactions is influence on actuality of the financial statements, the completeness of the taxes payment and the amount of income and profits of enterprises. The main aim is to analyze the peculiarities of the formation and movement of cryptocurrency, its recognition as an object of accounting, justification for further accounting evaluation and impact on performance. Methods. Methods observation, comparison, analogy, grouping and classification, abstraction and specification, analysis and synthesis, tabular and structural-logical methods are used. The information base of the research is the scientific achievements of domestic and foreign scientists and specialists, own experience and observations. Results. The definition of cryptocurrency as an object of accounting and a source of economic benefits is considered. The possibilities and advantages of cryptocurrency using in different spheres of economy are determined and systematized. The role and significance of cryptocurrency with the functions of money are compared. The possibility of classifying cryptocurrency as a certain type of enterprise assets in accordance with IAS and UAS (P(S)BO) is analyzed. The peculiarities of valuation and accounting of cryptocurrency as an intangible asset are substantiated. The problems of taxation of cryptocurrency transactions are identified and certain solutions are proposed until the regulatory settlement of this issue.
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Bublyk, Yevhen. "MEASURES OF FINANCIAL REGULATORS IN THE FIELD OF INTERNATIONAL CAPITAL FLOWS CONTROL." Economics & Education 6, no. 2 (August 27, 2021): 58–62. http://dx.doi.org/10.30525/2500-946x/2021-2-10.
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The article attempts to identify new trends in approaches to assessing the impact of uncontrolled international capital flows on the development of the national economy and the corresponding changes in regulatory policies. It is pointed out that uncontrolled capital flows pose a special threat to small open economies due to insufficient development of the institutional environment and low depth of financial markets. There has been constructed circle of typical for small open economies risks, conducted with uncontrolled capital flows movement, such as deepening structural imbalances in financial asset markets, undesirable excessive fluctuations in the national currency rate, the flight of national capital and the erosion of the tax base. Based on the analysis of recent research, international regulatory initiatives of EU countries, recommendations of international development institutions and IMF’s Integrated Policy Framework, have been identified such trends as strengthening control over illegal capital flows, limiting of the negative speculative influence, panic and herd behaviour on exchange rate stability. Argued for a very important role which plays an uncontrolled dynamics of national currency rate on the transmission of global shocks to national economies. This necessitates a serious overhaul of exchange rate policy approaches. Central banks of small open economies should consider exchange rate stability as one of their goals. This does not mean inflation targeting abandon. The use of the instrument of currency interventions helps to influence the achievement of external targets, increasing the ability of interest rate policy instruments to achieve inflation targeting in the domestic market as well. As a conclusion and proposals for further development of policies in the financial sector to ensure the sustainable development of small open economies is systematized a list of possible regulatory measures. It is emphasized that the development of regulatory policies in the monetary and financial spheres in small open economies, which includes Ukraine, should be implemented comprehensively and include the development of macroprudential tools to limit systemic risk factors, suppress illicit capital flows and reduce the role of psychological factors of pro-cyclical behavior. The implementation of regulatory measures on transparent terms in such spheres will not make free-market self-regulatory mechanisms weaken, but rather helps to release them.
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Herasymenko, I., and S. Maksymov. "PROBLEMATIC ISSUES OF CULTURAL HERITAGE VALUATION OF MONUMENTS." Criminalistics and Forensics, no. 65 (May 18, 2020): 477–85. http://dx.doi.org/10.33994/kndise.2020.65.47.
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The article analyzes the current state of the regulatory framework governing the valuation of cultural monuments, in particular, the Monetary Valuation of Monuments approved by the Cabinet of Ministers of Ukraine dated September 26, 2002 No. 1447. The classification of conservation categories by a monument (national and local significance) and types of monuments (archeology, history, monumental art, architecture and urban planning, landscape gardening art, historical landscape, science and technology) is given. The main problem in determining the value of monuments is to take into account not only the material factors of the monuments and its degree of wear, but also the consideration of its intangible factors, such as its historical, social, artistic value, the presence of objects of decorative art. That is, the cost of buildings-monuments of cultural heritage is formed: – due to the cost of the material “carrier” (land with improvements in the form of buildings, structures, small forms, etc.); – due to the value of the contribution of the intangible asset to the carrier. The article also describes the main problems that arise when assessing such objects (the presence of a monument’s status, the lack of an information base on market transactions, high operating costs, the need for restoration work, and high investment risks). The factors raising and lowering the value of a cultural heritage monument are characterized. Based on the analysis of the current regulatory framework, it was decided to develop practical recommendations for determining the value of real estate – monuments of architecture and urban planning, in particular built-in premises.
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Wiśniewski, Piotr, Tomasz Kamiński, and Marcin Obroniecki. "Sovereign Wealth Funds in Central and Eastern Europe: Scope and Methods of Financial Penetration." e-Finanse 11, no. 1 (March 1, 2015): 11–21. http://dx.doi.org/10.1515/fiqf-2016-0102.
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Abstract The Central and Eastern European (CEE) capital markets (of Poland, Lithuania, Latvia, Estonia, the Czech Republic, Slovakia, Hungary, Ukraine and, to a limited extent, Belarus) are gradually evolving towards increased breadth (diversity) and depth (liquidity), however, they are still exposed to considerable cross-country volatility and interdependence spill-overs - especially in times of capital flight to more established asset classes (“safe havens”). Sovereign Wealth Funds (SWFs) have widely been censured for their undesirable political interference and chronic operational opacity. This paper demonstrates that in CEE, contrary to widespread perceptions attributable to developed markets, SWFs can act as natural and powerful risk mitigators (contributing to a more stable capital base and reduced systemic volatility). Such a proposition is premised on several factors specific to SWFs oriented to CEE. They comprise: strategic long-termism and patience in overcoming interim pricing deficiencies, commitments to elements of a broadly interpreted infrastructure, and absence of overt conflicts of interest with the CEE host economies. The paper, besides reviewing the utilitarianism of SWFs in the CEE’s risk mitigation context, highlights regulatory and technical barriers to more SWF funding for CEE. It also recommends policy measures to the CEE economies aimed at luring more host-friendly SWF investment into the region.
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Dunas, N. V. "Global Trends anTheoretic aspects of the formation and development of public-private partnership (PPP) are studied. By using a systemic approach, it is determined that the most important factor in improving the efficiency of public-private partnership is its institutional support. It is substantiated that globally, the PPP is mostly initiated by public authorities, which can be explained by a number of reasons. Firstly, public authorities are responsible for the country's strategic development. Secondly, public authorities formulate "rules of the game" for businesses and individuals, plan capital investments, and select PPP entities that are a priority in terms of public interest. In fact, it is the state that undertakes to address objectives facing society. Therefore, nowadays the importance of creating a favorable institutional environment to develop PPPs is recognized at all the levels of economic management and is emphasized in the scientific community. It is proved that the interests of public authorities, private businesses and the community are reconciled through the complementation of political, legal, and socio-economic norms and rules of conduct. The functions of public authorities at the national and regional levels of government are systematized. d Initiatives in Forming the Green Bonds Market in the Context of COVID-19." PROBLEMS OF ECONOMY 2, no. 48 (2021): 4–16. http://dx.doi.org/10.32983/2222-0712-2021-2-4-16.
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The article is aimed at studying the current global trends and national initiatives in forming a green bonds market in Ukraine through attracting investment to implement environmentally important projects in the area of energy conservation. The essence and key features of “green” bonds as an effective financial instrument for the implementation of environmentally friendly projects in economy are revealed. Analytical review of the green bond market development in the international space and European countries has helped to identify global investment trends and a number of essential features of “green bonds” as a lucrative investment asset in the long run, which brings positive socio-economic and environmental effects. The legal base and regulatory aspect of the formation of the green bonds market in the national economy is compared with those of the developed countries. The main provisions of forming the state policy on the green bond market in Ukraine are analyzed, taking into account the expected results of attracting finance in the sphere of energy efficiency. The risks and promising areas of implementing the Concept of introduction and development of the green bonds market in Ukraine is identified on the basis of changing trends in the investment sphere of the global financial market. It is substantiated that the potential of market development in Ukraine creates the basis for attracting investment capital in various areas of energy efficiency and helps our country to join global trends of greening the national economy in the context of the pandemic. It is proved that the green bond market can compete with investments in virtual assets and will have a long-term economic effect in the process of modernizing the national economy in the period of global climate change and COVID-19.
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Muriithi, Robert Githua. "Distressed Debt Management & Lessons Learnt Through Case Management: Banking Industry in Kenya." European Journal of Business and Management Research 7, no. 1 (January 27, 2022): 134–46. http://dx.doi.org/10.24018/ejbmr.2022.7.1.1252.
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Deteriorating and troubled assets must be subjected to enhanced risk oversight and monitoring to ensure that appropriate action is taken in a timely manner, allowing a high level of obligor turnaround success and reduced risk of loss for the Lender/Financial Institution/Bank. It’s important for a Bank to harmonize Distressed Debt Management approach, called the Watch List (WL) Framework, and details the requirements to ensure timely adherence to regulatory requirements. The impairment requirements of International Financial Reporting Standards (IFRS 9) Financial Instruments, effective as of 1 January 2018, are based on an Excepted Credit Loss (ECL) model and replace the IAS 39 Financial Instruments; Recognition and Measurement incurred loss model. IFRS 9, recognizes impairment allowances on either a 12-month or lifetime ECL basis, dependent on whether there was a significant increase in credit risk (SICR) since initial recognition (being either asset origination date or ‘base date’, whichever is most recent). The measurement of ECL reflects both a probability-weighted outcome and the time value of money, using the best available forward-looking information. There should be relevant policies that would require to be read in conjunction with relevant manuals and Accounting Standards. It’s equally important to detail the monitoring objectives for consistent management of wholesale impairment and the provisions necessary to meet regulatory requirements. It is imperative that when dealing with Distressed Debt/Assets, that attention is given to the requirements detailed under Conduct Risk and that client confidentiality is maintained. Mostly, business failure is a result of financial and/or economic distress. A firm in financial distress experiences a shortfall in cash flow needed to meet its debt obligations. Its business model does not necessarily have fundamental problems and its products are often attractive. In contrast, firms in economic distress have unsustainable business models and will not be viable without asset restructuring. In practice, many distressed firms suffer from a combination of the two. Many factors contribute to the high number of business failures. Some common failures include and are not limited to the below. Poor operating performance and high financial leverage. A firm's poor operating performance may result from many factors, such as poorly executed acquisitions, competition, overcapacity, new channels of competition within an industry (e.g., retail), commodity price shocks (e.g., energy), and cyclical industries (e.g., airlines). High financial leverage exacerbates the effect of poor operating performance on the likelihood of corporate failure. Lack of technological innovation. Technological innovation creates negative shocks to businesses that do not innovate. The arrival of a new technology often threatens the survival of firms that possess related, yet less competitive, technologies. There needs for a business to strategically position itself in the market through digital transformation in its processes, product development and operations Liquidity and funding shock. In periods of weak credit supply, some businesses are unable to roll over maturing debt because of illiquidity in credit markets. Relatively high new business formation rates in certain periods. New business formation is usually based on optimism about the future. But new businesses fail with far greater frequency than do more seasoned entities, and the failure rate can be expected to increase in the years immediately following a surge in new business activity. Deregulation of key industries. Deregulation removes the protective cover of a regulated industry (e.g., airlines, financial services, HealthCare, energy) and fosters larger numbers of entering and exiting firms. Competition is far greater in a deregulated environment. Unexpected liabilities. Businesses may fail because off-balance sheet contingent liabilities suddenly become material on-balance sheet liabilities.
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Liu, Jiaqian. "Bank’s Regulatory Capital Buffer and Counter-cyclical Behavior - Empirical Analysis Based on China’s 18 Com- mercial Banks." International Journal of Management Science and Business Administration 2, no. 4 (2015): 7–16. http://dx.doi.org/10.18775/ijmsba.1849-5664-5419.2014.24.1001.
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This paper estimates the relationship between the Chinese business cycle and the regulatory capital buffers of China’s commercial banks, conducts empirical tests by using an unbalanced panel of 18 listed Chinese banks for the period 2005–2014. The results show that in China there is a robustly significant negative relationship between the economic cycle and bank capital buffers. Insignificance of coefficient of the total amount of loans shows that China’s commercial banks holding more capital buffer do not necessarily lead to a “credit crunch” phenomenon. Positive significant asset coefficient indicates the larger the size of the assets, the more inclined for China banks to hold more capital buffers, which is incompatible with “too big to fall” theory. The relationship between the loan loss provisions and capital buffers is not significant and this caused by Chinese commercial bank’s balance between the profit and cost perspective.
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Javaid, Faisal, and Abdul Saboor. "Impact of Corporate Governance index on Firm Performance: evidence from Pakistani manufacturing sector." Journal of Public Administration and Governance 5, no. 2 (April 26, 2015): 1. http://dx.doi.org/10.5296/jpag.v5i2.7498.
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Corporate governance is considered to have significant impact on the growth and development perspective of an economy. Sound corporate governance practices leads the economy towards the achievement of higher performance, provide sources for capital investment by increasing the creditability of shareholders. The purpose of this study is to empirically investigate the relationship of corporate governance and firm performance in terms of accounting as well as market performance i.e.to be measured by Return on asset, Return on equity and Tobin’s Q. The theoretical base to conduct the study is the demand of separation of ownership and control characterize as agency theory. The previous studies have yielded inconsistent result. To achieve the purpose 58 manufacturing sector companies were selected listed in the Karachi stock exchange and data was taken from annual reports of the companies for the period of 2009 to 2013. Descriptive statistics, correlation analysis and regression estimation using pooled, fixed effect, random effect and Hausman specification test were carried out after developing a composite index based on 21 proxies. The result entails that corporate governance index (CGI) and firm performance has positive and significant association but the relationship for each specific index is dependent upon the measure of firm performance. The result also shows that companies having strong corporate governance mechanism has greater chances to acquire finance. The implication of study demands that the reform effort should be directed towards the improvement in internal corporate governance mechanism and regulatory framework for the governance system.
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Javaid, Faisal. "Impact of corporate governance index on firm performance: evidence from Pakistani manufacturing sector." Journal of Governance and Regulation 4, no. 3 (2015): 163–74. http://dx.doi.org/10.22495/jgr_v4_i3_c1_p6.
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Corporate governance is considered to have significant impact on the growth and development perspective of an economy. Sound corporate governance practices leads the economy towards the achievement of higher performance, provide sources for capital investment by increasing the creditability of shareholders. The purpose of this study is to empirically investigate the relationship of corporate governance and firm performance in terms of accounting as well as market performance i.e.to be measured by Return on asset, Return on equity and Tobin’s Q. The theoretical base to conduct the study is the demand of separation of ownership and control characterize as agency theory. The previous studies have yielded inconsistent result. To achieve the purpose 58 textile sector companies were selected listed in the Karachi stock exchange and data was taken from annual reports of the companies for the period of 2009 to 2013. Descriptive statistics, correlation analysis and regression estimation using pooled, fixed effect, random effect and Hausman specification test were carried out after developing a composite index based on 21 proxies. The result entails that corporate governance index (CGI) and firm performance has positive and significant association but the relationship for each specific index is dependent upon the measure of firm performance. The result also shows that companies having strong corporate governance mechanism has greater chances to acquire finance. The implication of study demands that the reform effort should be directed towards the improvement in internal corporate governance mechanism and regulatory framework for the governance system.
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Grigorieva, Nataliya, and Sergey Sobolev. "Private partnership in health care: Moscow's case." Living Standards of the Population in the Regions of Russia 17, no. 3 (September 24, 2021): 327–38. http://dx.doi.org/10.19181/lsprr.2021.17.3.3.
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Public-private partnership (PPP) is one of the priority areas of healthcare development in Russia being considered as an effective tool for improving the material and technical base of health services, introducing innovative treatments, improving access to and quality of medical care. In Russian healthcare, PPP develops within the framework of a unified approach, but with certain specificity, associated, among other things, with regional specifics. At the same time, as healthcare and medical services belong to the social sphere forms of attracting private investors that prove themselves effective in other sectors of the economy may be unacceptable. In addition, the state performs significant social and regulatory functions (budget allocation and asset management), guarantees the quality of medical care for the citizens of the country. The business seeks to profit from its investments, to increase its share in the service market. Therefore, the success of a PPP largely depends on how optimally the functions of partners (government and business) are combined in the implementation of joint projects. The article analyses existing PPP projects in healthcare in the city of Moscow, as well as the practice of functioning of health services created on the basis of PPP. In the first part of the article, the authors analyze the specifics of promoting PPPs in Russian healthcare at both federal and regional levels. The second part provides an overview of innovative PPP projects in Moscow followed by a discussion of specific projects, peculiarities of their formation and modern state, analysis of the main problems of further development of PPPs in health care in Moscow
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Rocha, Maria Regina, and Adilson Caldeira. "Estratégia para o desenvolvimento do mercado de gás canalizado em São Paulo: o papel do estado sob a ótica da liberdade econômica." Revista Ibero-Americana de Estratégia 21, no. 1 (May 19, 2022): e20911. http://dx.doi.org/10.5585/riae.v21i1.20911.
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Objective: The text reports an action by the Regulatory Agency for Public Services of the State of São Paulo (ARSESP) with the objective of promoting the development of the natural gas market channeled in its area of coverage and thus providing an impact on the competitiveness of distribution concessionaires.Methodological approach: Interventionist study of applied character, focusing on improvements and innovation to expand action d the efficiency and effectiveness of business, according to typical methodological procedures for projects dedicated to business problems solutions and taking advantage of opportunities.Originality and relevance: The project innovates in stimulating the government to free competition in the market, promoting the expansion of the market with benefit to distributors and also to consumers, who now have access to a product not available in their region, with jobs and income generation.Main Results: The solution realizes the expansion of the gas pipeline network and the consequent development of the piped gas market in the State of São Paulo, with competitive benefits provided to distributors, value creation for the Granting Authority through the geographic expansion of coverage of the natural gas distribution pipeline network and increase in the asset base, in addition to promoting development economic and social, for the generation of jobs and income and increase in the tax collection.Theoretical/Methodological Contributions: We emphasize the learning of the agents involved, as a result of applying the method to solve problems and take advantage of market opportunities with a scientific basis and focus on business development, providing Innovative solutions. The description of the process enables replication in situations of a similar nature, experienced in other regulated sectors and involving other public services provided to society.
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Chen, Yunyue, and Guanggui Chen. "Optimization of the Intelligent Asset Management System Based on WSN and RFID Technology." Journal of Sensors 2022 (February 4, 2022): 1–11. http://dx.doi.org/10.1155/2022/3436530.
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With the development of Internet of Things (IoT) technology, especially the promotion of perception layer radio frequency identification (RFID) technology and wireless sensor network (WSN), a new way of thinking is provided for asset management. Applying both to the management technology of assets is an effective way to achieve intelligent asset management. This paper proposes an intelligent network applied to an asset management system based on WSN and RFID technologies. The whole intelligent asset management is divided into four layers according to the functional structure. From the top layer downward, the layers are the management and dispatch center, communication network, intelligent gateway, and data collection layer in order. Meanwhile, the functions and hardware composition of each layer are described. The data acquisition butcher is the sensing terminal of the whole intelligent asset management network. Smart nodes are its key devices to collect RFID data and sensing data to realize the intelligent sensing capability of the assets. The paper uses the MSP430 control chip, MFRC522 RF read/write chip, CC2425 wireless communication chip, temperature sensor, data memory, and voltage regulator chip to design the smart nodes in the system and details the working principle of the smart nodes and the networking process of the system. The newly designed intelligent asset management network can be deployed independently in asset management or can be integrated into the technical design of existing asset management systems. The management scheduling also collects and manages the RFID and sensing information of the area through the data collection layer, which improves the intelligent construction of the assets.
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Ma, Chunguang, Hongjun Bei, Chuner Wang, and Guihua Chen. "Accelerated Depreciation Tax Credit and Corporate Financialization Based on the PSM-DID Model." Wireless Communications and Mobile Computing 2020 (December 7, 2020): 1–10. http://dx.doi.org/10.1155/2020/6622900.
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In this paper, we use the data of China’s manufacturing listed companies from 2009 to 2018, adopt the method of propensity score matching and double difference (PSM-DID) to solve the sample’s selective bias, and select the accelerated depreciation policy of fixed assets issued by China in 2014 as a quasi-natural experiment to verify the robustness of the empirical results, which will affect the R&D investment of manufacturing enterprises and the structural tax reduction of China. This paper makes an empirical study on the effect of fixed asset investment to restrain the financialization of manufacturing enterprises. The results show that (1) accelerated depreciation policy of fixed assets significantly promotes the R&D investment and fixed asset investment of enterprises and reduces the level of enterprise financialization; (2) accelerated depreciation of fixed asset local tax policy, through guiding the R&D investment, fixed asset investment, and deferred income tax acquisition of enterprises. It guides the investment of enterprises to the real economic field, thus reducing the financial assets of enterprises. The investment has restrained the financial trend of real enterprises. The conclusion of this paper is of practical significance to support the formulation and implementation of the national structural tax reduction policy and to clarify the regulatory role and mechanism of the structural tax reduction policy.
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Kotelenets Anastasiia, Kotelenets Anastasiia. "STRATEGIC DIRECTIONS OF IMPROVING LAND RELATIONS IN UKRAINE." Socio World-Social Research & Behavioral Sciences 04, no. 02 (April 15, 2021): 62–68. http://dx.doi.org/10.36962/swd04022021-62.
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The article is dedicated to development features of the state policy on land relations in Ukraine. Promising directions for the development of the concept of formulating and implementing the state policy on land relations in Ukraine have been presented. It has been ascertained that the land reform implementation in Ukraine should not inhibit the economic development of the country but help build a new competitive model of business-government relations. Increasing investment attractiveness in this dimension should be provided not through increasing the market value of land as a type of enterprise asset, but through radical innovation and structural changes in the use of natural resources; not through the land market denationalization, but through the motivation of domestic entrepreneurs to thrive on socially responsible business. It is necessary not to sell the land resource base formed over millennia, but to move reasonably and gradually from the analysis of quantitative characteristics of enterprises to intensive changes in management, to measure the social responsibility of agraricultural business, to maintain land use ethics and the formation of environmental values, mechanisms and instruments of the state environmental policy. Four stages of development and implementation in public administration of the author’s concept of complementary type have been suggested: 1) determining the dominants of the concept; 2) developing the mechanism of state regulation of the land relations development adequate to real processes with objectification of its elementary components; 3) developing a methodological scheme for implementing the mechanism of state regulation of land relations; 4) identification of the most important factors influencing the effectiveness of the state policy on the land relations development.. Keywords: land relations, decentralization, mechanism, regulation, regulatory framework, investment attractiveness, land reform, land market, resources.
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Murphy, Christopher, and Stuart A. Higgins. "Australia offshore well inventory characterisation and decommissioning cost saving opportunities through cap rock restoration and rigless/riserless techniques." APPEA Journal 61, no. 2 (2021): 445. http://dx.doi.org/10.1071/aj20118.
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This research utilises the Geoscience Australia and NOPIMS public database to characterise the national inventory of active offshore oil and gas (O&G) wells and, through representative examples of dry and wet completions, establish the current well decommissioning cost opportunities associated with using riserless and rigless techniques to restore cap rock. These techniques have been successfully applied in the Gulf of Mexico (GoM) and this study explores the potential savings and barriers to adoption in the Australian offshore operating and regulatory context. Third party studies (Bills 2018; Wood Mackenzie 2020) have reported Australian O&G decommissioning cost estimates in the range of USD 33–49 billion over the next 30–40 years. The well decommissioning contribution to the total project cost has been estimated at 49% (OGUK 2020). This cost is materially significant to the economic life of the asset, the operator’s financial liability and a significant cost burden to the Federal Government through Petroleum Resource Rent Tax (PRRT) offsets. In this context there is a paucity of detail and transparency for well decommissioning cost estimates, to establish whether there are cost saving opportunities whilst still maintaining an acceptable level of risk both during plug and abandonment (P&A) operations and in the longer term when relinquished back to the Federal Government. This study illustrates how and to what extent the Australian offshore Federal well inventory could be decommissioned using cap rock restoration and rigless/riserless techniques and proposes a staged strategy to realise a progressive cost reduction of 21–41% over the base estimate of circa USD 4.08 billion benchmarked with OGUK (2019). This significant cost reduction aligns with the OGTC (2019) technology roadmap target of 35% supported in part by the pursuit of a rigless and riserless well decommissioning philosophy.
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Yang, Yimin, and Min Wu. "Basel regulatory capital formula revised." International Journal of Financial Engineering 08, no. 03 (July 12, 2021): 2142006. http://dx.doi.org/10.1142/s2424786321420068.
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Credit capital requirement is a key component of Basel implementation to assess a bank’s capital adequacy. Under the Internal Rating-Based approach, some risk parameters, including Asset Correlation, are implicit assumptions that cannot be observed directly. While some heuristic formulae of Asset Correlation for different business segments are provided by Basel, they may not be fully consistent with each bank’s loss experience and thus may cause systematic underestimation of banks’ capital requirement. To address this issue, we derive an equivalent capital formula in such way that the unobservable Asset Correlation is replaced by an observable and well-understood parameter called Default Volatility, which can be calibrated based on banks’ historical loss experience. This new approach simplifies parameter estimation process without requiring additional data, as well as making risk analysis such as stress testing more credible.
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Carydias, Peter, and James Gregory. "Risk-based asset performance management in CSG production operations." APPEA Journal 59, no. 2 (2019): 776. http://dx.doi.org/10.1071/aj18239.
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The coal seam gas (CSG) industry is an asset intensive and highly regulated industry, with each project having a large, complex network of upstream processing facilities. Each major project will drill over 3000 individual wells with around 40000 wells predicted across the Surat and Bowen basins during the lifetime of these projects. This high asset count poses a challenge for upstream oil and gas operators to meet corporate and legislative requirements, maintain asset integrity of the facilities; while delivering leading operational performance and return on investment in this cost-focused environment. In this paper, we propose that the effective management of these CSG assets requires a conscious cross-disciplinary, whole lifecycle focus on value realisation. We explore three ways that CSG operators can successfully achieve this by transitioning to a risk-based, asset performance management led environment: 1. Safe production and regulatory compliance – the geographic spread of CSG facilities poses significant exposure to driving risk when travelling in remote locations. We discuss how CSG operators can leverage existing data to create fit-for-purpose risk-based inspection strategies. 2. Maximising reliability – CSG consists of a complex network of interconnected reservoirs, process facilities and complex demand-side variability. This requires a fluid approach to the allocation of scarce maintenance planning resources. We discuss how CSG operators can use a risk-based approach to achieve an optimised ‘best value’ outcome. 3. Managing supply-chain cost and quality – we explore how CSG operators can deliver a step-change in integrity, cost-of quality and capital efficiency in their supply chain.
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Jobst, Andreas. "The regulatory treatment of asset securitisation: The Basel Securitisation Framework explained." Journal of Financial Regulation and Compliance 13, no. 1 (March 2005): 15–42. http://dx.doi.org/10.1108/13581980510622054.
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Gottschalk, Sylvia. "Asset correlation, portfolio diversification and regulatory capital in the Basel Capital Accord." Risk Governance and Control: Financial Markets and Institutions 1, no. 3 (2011): 31–39. http://dx.doi.org/10.22495/rgcv1i3art3.
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In this paper, we analyze the properties of the KMV model of credit portfolio loss. This theoretical model constitutes the cornerstone of Basel II’s Internal Ratings Based(IRB) approach to regulatory capital. Our results show that this model tends to overestimate the probability of portfolio loss when the probability of default of a single firm and the firms’ asset correlations are low. On the contrary, probabilities of portfolio loss are underestimated when the probability of default of a single firm and asset correlations are high. Moreover, the relationship between asset correlation and probability of loan portfolio loss is only consistent at very high quantiles of the portfolio loss distribution. These are precisely those adopted by the Basel II Capital Accord for the calculations of capital adequacy provisions. So, although the counterintuitive properties of the KMV model do not extend to Basel II, they do restrict its generality as a model of credit portfolio loss.
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Bapat, Dhananjay. "Customer acquisition at Abhyudaya Co-operative Bank Ltd." Emerald Emerging Markets Case Studies 4, no. 4 (October 8, 2014): 1–14. http://dx.doi.org/10.1108/eemcs-07-2013-0140.
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Subject area Marketing, Banking. Study level/applicability Post Graduate Programme, MBA, BBA. Case overview On 27 June 2011, Abhyudaya Bank, a leading urban cooperative bank, opened its 101 new branch at Diva, which is on the outskirts of Mumbai city in India. Diva area is populated but has less number of bank branches. The bank planned to surpass its earlier record of customer acquisition in branches which were newly opened at Marve Link Road and Jogeshwari in Mumbai. According to Mr Morye, Managing Director, Abhyudaya Bank, “With the expanding horizons, continuous developments and competition, the bank proposes to become full-fledged financial service provider, fulfilling requirements of customers and other stakeholders by providing all allied services, as permitted by the regulatory authorities. The Bank has adopted advanced technology for providing faster and convenient services to clients. These major long term proposals will enable the bank to increase its market share and better fulfillment of expectations of all the stakeholders.” The case introduces the structure of urban cooperative banks of which Abhyudaya Cooperative Bank is a part. The case provides the key highlights of the bank and discusses the catalyst role of planning and marketing department for branches to achieve its target and how the bank implemented unique and differentiated strategy involving employees of the banks. Employees form an important asset for banks, and banks need to utilize their potential in creating long-term and sustainable relationships with customers. The case examines how the branch can benefit from detail area-wise planning capturing the potential. Branch area planning is a unique exercise covering the branch potential analysis and a new branch manager must utilize it for acquiring higher number of customers. Regardless of the branching, a bank seeking to expand its branch operations faces a number of important decisions. As the area develops, a bank branch decides to take up appropriate strategy with an objective to move its base of operations to attract new customers in a new area and thereafter maintain its existing ones. Expected learning outcomes The case is suitable for students pursuing a post-graduate course in bank marketing, banking postgraduate and MBA course in strategic management and marketing management. The case presents an opportunity to assess the strategy adopted by the bank for new branch launch and evolving role by a marketing function in a bank. Supplementary materials Teaching Notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes.
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Samanta, Prodyot, and Mohinder Dugal. "Basel disclosure by private and public sector banks in India: assessment and implications." Journal of Financial Regulation and Compliance 24, no. 4 (November 14, 2016): 453–72. http://dx.doi.org/10.1108/jfrc-12-2015-0065.
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Purpose The aim of this paper is to assess the nature and characteristics of regulatory risk management reporting by private and public sector banks in India. Design/methodology/approach Using a sample of 38 banks, a content analysis of their Basel II disclosure reports for the year 2012-2013 is examined. Findings The assessment shows that while the majority of the disclosure across banks focuses on credit risk and capital adequacy ratios, the total quantity of disclosure varies significantly across banks. Of the three broad risk categories (market, credit and operational), operational risk disclosure is the least, with minimal to no disclosure on several key aspects of operational risk, suggesting that operational risk issues are likely to emerge as an area of concern among Indian banks. Further, for the sector as a whole, the authors observe that asset size and net income are positively correlated with the quantity of regulatory disclosure and negatively correlated with the variation of this disclosure, suggesting a possible precautionary behavior on the part of larger and more profitable banks toward excessive scrutiny by the regulators and a regulatory regime in which no institution is too big to fail. Originality/value As an exploratory research article to address the characteristics of regulatory disclosure of private and public sector banks in India, it is informative, particularly for those working in the area of banking regulation and compliance. Areas for further research are suggested.
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Cho, Hyejin. "Sustainable Tax Behavior of MNEs: Effect of International Tax Law Reform." Sustainability 12, no. 18 (September 18, 2020): 7738. http://dx.doi.org/10.3390/su12187738.
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As tax is related to the sustainable growth of societies around the world, international tax avoidance by multinational enterprises (MNEs) has gained public attention. The Organization for Economic Co-operation and Development (OECD) introduced the Base Erosion and Profit Shifting (BEPS) Action Plan to promote sustainable tax behavior of MNEs. To guide policymakers and regulators in curving MNEs’ tax schemes utilizing market imperfection, this paper empirically assesses whether the international law reform regarding information disclosures on global operation achieves the intended result of lowering MNEs’ tax avoidance. In addition, the conditional effect of family ownership and intangible asset intensity is addressed to find the factors that strengthen the tax avoidance level of MNEs. This study employs propensity score matching and difference-in-differences method to analyze the changes in international tax liabilities of Korean MNEs in response to BEPS Action Plan 13. The empirical results show that the sustainable tax behavior of MNEs increased when international tax law demanded that they reveal critical information on global allocation of income, economic activity, and taxes paid among countries. Furthermore, the results show that there was a higher increase in the international tax liabilities of MNEs with higher intangible asset intensity. The results suggest to policymakers that the private information disclosure of MNEs’ global operation and sharing such information is essential in tackling MNEs’ BEPS activities, and intangible assets are indeed an important source of tax avoidance.
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Massafra, A., G. Predari, and R. Gulli. "TOWARDS DIGITAL TWIN DRIVEN CULTURAL HERITAGE MANAGEMENT: A HBIM-BASED WORKFLOW FOR ENERGY IMPROVEMENT OF MODERN BUILDINGS." International Archives of the Photogrammetry, Remote Sensing and Spatial Information Sciences XLVI-5/W1-2022 (February 3, 2022): 149–57. http://dx.doi.org/10.5194/isprs-archives-xlvi-5-w1-2022-149-2022.
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Abstract. Europe has numerous historic buildings that need to become more energy-efficient, which need permanent maintenance and refurbishment to fulfill sustainability and use requirements. Asset owners and asset managers need to adopt new strategies to protect listed buildings while optimizing costs and benefits during their life cycle. In this sense, the digital transition proves to be a moment to seize for opening new scenarios. The Digital Twin paradigm promises to be valuable for enabling the sustainable knowledge, conservation, restoration, and management of built assets and solving the dilemma about protecting the architectural identity of these buildings while adapting them to the functional and performance requirements dictated by the regulatory framework. This study proposes a workflow that integrates Heritage Building Information Modeling (HBIM) and Building Performance Simulation (BPS) tools for data-driving the energy improvement of Italian listed modern buildings built between the 1920s and 1960s. After acquiring information about the building, the HBIM model and the Building Energy Model (BEM) are realized based on the International Foundation Classes (IFC) standard. Energy intervention measures are defined, construction costs are computed, and benefits during the intervention life cycle are predicted in thermal demand. Finally, an expeditious multi-criteria analysis allows for comparing different intervention combinations and indicating the optimal solution for the energy improvement of the building concerning energy, economic, and financial issues. These outcomes represent the first step towards realizing a dynamic, accessible, and sharable Digital Twin.
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Levashenko, Antonina D., and Ivan S. Ermokhin. "MODERN CRYPTOECONOMICS: INTERNATIONAL LEGAL REGULATION." International Trade and Trade Policy, no. 1 (March 31, 2018): 135–42. http://dx.doi.org/10.21686/2410-7395-2018-1-135-142.
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Due to increasing interest around the world about crypto-currency there is a growing need among authorities for understanding the approaches to regulate the new phenomenon. Analysis of international experience in the regulation of crypto-currencies and other cryptoactive assets shows that regulators are now trying to reduce the risks associated with the violation of public interests - the risks of erosion of the tax base and money laundering and terrorist financing. The article provides information on the approaches of the EU, the US and other OECD countries to the regulation of crypto-currencies and other crypto assets, as well as possible proposals for regulators in Russia.
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Derevianko, N., A. Brazhko, M. Zavgorodnii, and Т. Vasilieva. "Effectiveness and safety of new plant growth stimulators based on derivatives of heterylcarboxylic acids." Agroecological journal, no. 3 (September 30, 2016): 100–103. http://dx.doi.org/10.33730/2077-4893.3.2016.248874.
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The research examines the impact of new growth stimulants manufactured from acid salts heterylсarbon on division and cell growth kind of shoots Cucumis sp. (Variety «Competitor»). These studies make it possible to assert that the use of growth regulator established on the basis heterylсarbon acids for growing agricultural products are appropriate in view of the fact that he has expressed growth stimulating properties and can increase the length of the main root, the number of lateral roots, accelerate growth and development hypocotyls and leaves, and these factors in turn increase the viability of plant family Cucurbitaceae. Safety of this class of compounds was proven in mice. The created regulator of growth, on the basis of heterylсarbon acids practically is not toxic (V class of toxicness), that allows this class of substances to examine as potential growth regulators of plants. Also, this compound showed good antioxidant activity. Accrued regulator of growth, in a concentration 10 mg/l, substantially increased length of mainroot, amount of lateral chums, accelerated a height and development of hypocotyl and leaves.
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Zyryanova, Tat'yana, and E. Manakova. "Internal control of accounting of fixed assets in accordance with the new standards." Agrarian Bulletin of the 217, no. 02 (February 28, 2022): 82–89. http://dx.doi.org/10.32417/1997-4868-2022-217-02-82-89.
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Abstract. The purpose. Study of the peculiarities of the organization of the internal control system of fixed assets in order to reduce the risks of ineffective use and theft. Research methods. Analyzed normative acts, explanations of regulatory authorities, judicial practice. Particular attention is paid to the analysis of federal accounting standards governing the accounting of fixed assets, which come into effect from 2022. Results. Changes in regulations governing the procedure for conducting accounting and tax accounting require adjustments and methods of verification by internal controllers. Fixed assets are components of the material and technical base of the enterprise, allow increasing sales, producing quality products and increasing attractiveness in the eyes of investors. The introduction of new accounting standards, as well as the strengthening of administration by the regulatory authorities, require a revision of internal local documents and changes to the internal control methods. The directions of the organization of internal control of fixed assets, practical examples of incorrect reflection in the accounting of assets and the consequences leading to additional taxes are considered. The risks of theft and ineffective use of fixed assets arise from both managers and employees of the enterprise. Properly organized internal control will help identify fraud patterns and reduce the risks of damage to the enterprise. The paper proposes step-by-step algorithms for organizing internal control for the main business operations associated with the use of fixed assets. Namely, the algorithm for checking the accrued depreciation, repair costs, documents confirming the liquidation of fixed assets. Errors made in the formation of the initial cost can lead to a distortion of the cost, the book value of fixed assets and lead to an incorrect calculation of income tax and property tax of organizations.
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Zakirova, Alsou, Evgenia Zaugarova, Guzaliya Klychova, Rashida Sungatullina, and Elena Klinova. "Development of a methodological tool for internal control to increase the efficiency of use of fixed assets." E3S Web of Conferences 258 (2021): 12011. http://dx.doi.org/10.1051/e3sconf/202125812011.
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The basis of the material and technical base of the operation of enterprises are fixed assets. Therefore, the effective organization of accounting and internal control of operations with fixed assets is one of the important tasks facing the management of any enterprise. The purpose of the article consists in development of methodical toolkit of internal control for increase in efficiency of use of the fixed assets. For the development of theoretical bases the article develops the conceptual model of internal control of operations with the fixed assets, which is a logically interconnected system including basic elements of internal control such as purpose, objectives, functions, object, subject, tools, sources of information, regulatory framework, evidence collection, execution of audit results and development of recommendations. In order to improve methodological support, the working papers of internal control were developed in the article. The proposed working documents can be used to identify critical areas of accounting with a high level of risk and determine the means of control necessary to conduct control procedures; to assess the organization and functioning of internal control, the effectiveness of employees responsible for the safety of fixed assets; formation of the information base for management decisions; assessment of risks associated with the acquisition and use of fixed assets.
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Vytev, Zhelao, and Hazir Gashi. "THE BASEL III REGULATORY FRAMEWORK AND ITS IMPLICATION ON THE LIQUIDITY OF THE BANKING SECTOR IN THE REPUBLIC OF NORTH MACEDONIA." Knowledge International Journal 34, no. 1 (October 4, 2019): 133–38. http://dx.doi.org/10.35120/kij34010133v.
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The advent of the global financial crisis and its consequences have led the banking system to work towards more stringent regulatory rules. Additional regulatory requirements affect various aspects of banks' operations. In this regard, one of the most important questions that arises is how the implementation of the new Basel III regulatory framework affects the liquidity of banking institutions.The focus in this paper is the liquidity of the banks in the Republic of Northern Macedonia. The subject of the study is focused on the strength and direction of the impact of the new Basel III regulatory framework on their liquidity. The aim of the study is to reveal the effect of the use of modern regulatory requirements on liquidity of the banking system. A coefficient analysis is applied using a system of appropriately selected indicators: change (increment or decrease) of liquid and highly liquid assets, relative share of liquid and highly liquid assets in the structure of assets, coverage of liabilities with liquid assets, coverage of short-term liabilities with liquid assets, coverage of deposits by non-financial entities with liquid assets, “loans / deposits” ratio.The study includes observations on developments in the banking sector of the Republic of Northern Macedonia for the period 2007-2018. In terms of the impact of the new regulatory framework on banking liquidity, the twelve-year period analysed includes three distinct phases: 1) the time before the onset of the global financial crisis (until 2009); 2) the crisis period (2009 to 2012); 3) the post-crisis period (after 2012), during which the new regulatory measures are gradually moving (Basel III). For the purposes of the study, two working hypotheses are formulated: 1) first hypothesis - the new rules for regulating liquidity and capital adequacy have a negative or stagnant effect on the liquidity of banks in the Republic of Northern Macedonia, manifested in the form of sensitive fluctuations or in the form of sensitive fluctuations or a number of their financial liquidity indicators; 2) second hypothesis - the implementation of the new regulatory measures does not adversely affect banks' liquidity. The analysis of real empirical data shows that the implementation of the new regulatory measures does not have a negative impact on the liquidity of banks in the Republic of Northern Macedonia, but rather, a tendency to stabilize and improve a number of their key liquidity indicators.
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Hasan, A. K. M. Kamrul, and Yasushi Suzuki. "“Sub-debt trap”: a real effect of an ill-design adoption of basel accord in the Bangladeshi banking industry." Journal of Islamic Accounting and Business Research 12, no. 8 (October 3, 2021): 1124–45. http://dx.doi.org/10.1108/jiabr-09-2020-0298.
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Purpose The purpose of this paper is to investigate the impact of basel accord on the Bangladeshi bank performance including Islamic banks and the role of subordinated debt (sub-debt) as basel regulatory capital (BRC). Design/methodology/approach The authors conducted the empirical investigation by adopting a quantitative approach and using the secondary data available in the annual reports of the sample banks between 2009 and 2018. This paper develops an econometric model to compare and analyze the regression result under two states of capital-to-risk adjusted assets ratio (CRAR) with sub-debt and CRAR without sub-debt. This paper analyzes the impact of sub-debt in the largest Islamic bank for the year 2007 as a case study for endorsing the findings. Findings This paper finds that CRAR has positive alignments with return on equity (ROE) and cash dividend when sub-debt is considered as Tier 2 capital. This paper observes that the huge bad loan write-off supports to downsize the asset size thus temporarily enhance the return on assets (ROA). In a nutshell, sub-debt gives banks an ill incentive to disburse steady cash dividends instead of injecting genuine equity capital, encouraging them to take more credit risk. In fact, more private commercial banks (PCBs) issued huge sub-debts between 2009 and 2018 under a unique arrangement, which the authors termed as the “sub-debt trap.” Research limitations/implications This paper draws policy implications for the banking regulator to identify and rectify a systemic problem of the “sub-debt trap” which hinders the regulatory purpose from the implementation of basel accord II and III. A limitation of this study is the authors shed analytical light on Bangladeshi banks, i.e. it a single country analysis which may not be generalized to other developing countries except matching with a similar context. Originality/value The paper contributes to accumulating empirical studies on the effectiveness of basel accord implementation in developing countries. In most of the developing countries, where institutional loopholes are a major concern, the research provides evidence that how weak institutional settings are largely responsible for harvesting the potential benefit from micro-prudential regulation such as the basel accord. To shed analytical light on developing country context, the study document that sub-debt has been instrumentalized to maintain minimum capital ratio and banks managers tends more focus on improving ROE instead of ROA. The findings of the study are supportive to other developing countries where sub-debt considered as BRC and issued through private placement. To the best of the authors’ knowledge, it is the first attempt to cast doubt on the impact of sub-debt as a BRC, given the uniqueness of the Bangladeshi banking industry, on the PCBs including Islamic banks.
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PILKINGTON, ALAN, and ROMANO DYERSON. "INCUMBENCY AND THE DISRUPTIVE REGULATOR: THE CASE OF ELECTRIC VEHICLES IN CALIFORNIA." International Journal of Innovation Management 08, no. 04 (December 2004): 339–54. http://dx.doi.org/10.1142/s1363919604001106.
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For much of the past century, the automobile sector has been dominated by a handful of oligopolistic firms, protected through path dependencies and the build up of complementary assets. But that very dominance built upon years of experience and translated into the periodic release of incrementally innovative new car designs, may now be threatened by the actions of regulators in California and elsewhere, in mandating emission friendly cars. The biggest challenge in this area has been the demand for zero emission vehicles resulting from Californian regulations. Zero emission legislation mandates the use of technologies radically different from those used in the development of internal combustion engines. Such technology acts in a disruptive manner on the existing skills base of the automobile firms, negating some of the benefits of incumbency. With little or no experience of the systems needed to develop a viable electric vehicle — batteries, electric motors and controllers — the established automobile manufacturers have struggled with a strategic question: how to incorporate disruptive elements into a mature organisation. This paper explores the nature of the regulatory threat and the strategic responses generated by the automobile firms.
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Cheng, Peng, Walter Aerts, and Ann Jorissen. "Earnings Management, Asset Restructuring, and the Threat of Exchange Delisting in an Earnings-based Regulatory Regime." Corporate Governance: An International Review 18, no. 5 (September 2010): 438–56. http://dx.doi.org/10.1111/j.1467-8683.2009.00780.x.
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Herrera Galán, Michael. "Evidence-based asset management applied to maintenance function control." Journal of Quality in Maintenance Engineering 25, no. 4 (October 2, 2019): 635–44. http://dx.doi.org/10.1108/jqme-05-2018-0045.
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Purpose Every day a large volume of information is generated in the maintenance department relating to its business assets whose detailed analysis has a direct impact on the effectiveness of the company. Taking into account the aforementioned, it is necessary to develop and implement a set of indicators that allow a practical evaluation of the maintenance function in any firm. Therefore, the purpose of this paper is to evaluate the maintenance function through a thorough analysis of historical data of a biotechnology sector firm. Design/methodology/approach The method used to evaluate the maintenance function of a Cuban company is based on the quantification of a set of indicators, represented graphically. The data processed in this paper were obtained through an informatics application, designed to computerize the maintenance function in the firm. This application is validated and is part of the company quality management system, which is audited every two years by the national regulatory authority CECMED (Centro para el Control Estatal de Medicamentos, Equipos y Dispositivos Médicos de Cuba, by its Spanish acronym), for issuing the certificates of sanitary license and good manufacturing practices. Findings Evidence-based control alternatives were used to evaluate the adequacy of the maintenance function in a biotechnology company. The results demonstrate graphically the maintenance operations of the National Center for Scientific Research, production department, during a period from January 2013 to December 2017. Finally, based on the analysis, it was discovered that the performance of the maintenance department was inadequate and had poor effectiveness, and a new maintenance strategy was established to be followed for the next quinquennium. Originality/value The research proposal provides information on how to evaluate the proactive and reactive maintenance actions through graphical indicators. The results obtained together with traditional maintenance indicators such as availability, maintainability and reliability could be interesting to technicians or engineers who decide to evaluate directly the effectiveness of a maintenance department.
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Agyei, Samuel Kwaku. "Diversification Benefits between Stock Returns from Ghana and Jamaica: Insights from Time-Frequency and VMD-Based Asymmetric Quantile-on-Quantile Analysis." Mathematical Problems in Engineering 2022 (September 10, 2022): 1–16. http://dx.doi.org/10.1155/2022/9375170.
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Due to the susceptibility of assets to the dynamism in financial markets, the emergence of new asset classes induces empirical assessments of their risk-reduction abilities. This issue is envisaged from the perspective of new investment combinations that emerge from the new market alliance between Ghana and Jamaica. This study investigates the heterogeneous and asymmetric co-movements between stock market returns from Ghana and Jamaica with data from 04 April 2011 to 17 March 2022. The wavelet analysis is carried out, followed by causality in quantiles and quantile-on-quantile regression (QQR) analysis with decomposed return series using the variational mode decomposition (VMD) approach. The findings from the bi-wavelet analysis divulge low connectedness between stock returns from Ghana and Jamaica. The cone of influence from the coherence plot does not cover the entire spectrum, particularly beyond the annual scale. Hence, co-movements between GSECI and JSEIND beyond a year may be less significant for portfolio management. Findings from the causality test evidenced bi-directional asymmetric causality between the two markets. From the VMD-based QQR analysis, it is revealed that stock returns from Ghana and Jamaica are safe-havens, hedges, and diversifiers for each other. The significant diversification prospects between the two markets signal that the two stock markets could facilitate the inflow of capital assets for extended growth and development of their overall economies. Policymakers and regulators could attract international investors and promote the flow of funds between the two economies through effective regulation of stock markets. Specific implications for market participants and policymakers are discussed.
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Abimanyu, Yoopi. "Deteksi Keterbatasan Likuiditas di Sektor Keuangan." Kajian Ekonomi dan Keuangan 19, no. 3 (December 19, 2016): 266–83. http://dx.doi.org/10.31685/kek.v19i3.146.
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Sejak tahun 2013 mata uang Rupiah terus terdepresiasi terhadap US dollar dan diharapkan bahwa tren ini akan terus berlanjut di masa yang akan datang. Ekspektasi akan terjadinya depresiasi lanjutan akan mendorong adanya aliran Rupiah dari pasar uang ke pasar valuta asing, untuk selanjutnya di konversi ke mata uang US dollar. Hal ini akan menciptakan kontraksi dan keterbatasan likuiditas di pasar uang dan sektor keuangan. Untuk menghindari keterbatasan tersebut, maka harus ada kebijakan pengukuran yang dilakukan oleh regulator di sektor keuangan. Penelitian ini bertujuan untuk mendeketeksi apakah terjadi keterbatasan likuiditas Rupiah pada sektor keuangan yang perlu dioffset dengan kebijakan uang ketat dari regulator atau otoritas sektor keuangan. Dengan menggunakan hipotesa bahwa tidak ada keterbatasan Rupiah di sektor keuangan, studi ini menggunakan metode visual inspection dan regresiterhadap variabel-variabelsektor keuangan, seperti base money, M1, M2, saving deposit, time deposit, dan net foreign assets serta net domestic assets. Hasil penelitian ini mendukung hipotesa bahwa tidak ada kontraksi di sektor keuangan.Â
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Duarte, Thiago B., Davi M. Valladão, and Álvaro Veiga. "Asset liability management for open pension schemes using multistage stochastic programming under Solvency-II-based regulatory constraints." Insurance: Mathematics and Economics 77 (November 2017): 177–88. http://dx.doi.org/10.1016/j.insmatheco.2017.09.022.
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Hastie, Bethany. "THE INACCESSIBILITY OF JUSTICE FOR MIGRANT WORKERS: A CAPABILITIES-BASED PERSPECTIVE." Windsor Yearbook of Access to Justice 34, no. 2 (February 14, 2018): 20–39. http://dx.doi.org/10.22329/wyaj.v34i2.5019.
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This article examines the barriers migrant workers face in accessing justice, including the ability to assert legal rights in the workplace, and to access mechanisms for legal redress or remedy. Drawing on empirical research, and using the capabilities approach as a conceptual framework through which to examine these issues, this article demonstrates that the regulatory structure of the Temporary Foreign Worker Programs operates to actively constrain the ability for migrant workers to assert their rights in the workplace, and seek effective legal remedies in the face of rights violations.
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Senarathne, Chamil W., and Viraj Malawana. "Capital Structure, Working Capital Management and Potential Growth of a Business: The Case of the Sri Lankan Stockbroking Industry." Asia-Pacific Management Accounting Journal 14, no. 1 (April 30, 2019): 19–41. http://dx.doi.org/10.24191/apmaj.v14i1-02.
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The objective of this paper is to examine the financial and strategic implications of regulatory restrictions for working capital management of firms operating in the stockbroking industry. The present regulatory frameworks require banks and other financial services sector firms to have more equity capital in the capital base, without regard to the financial and operating characteristics of the firms. Based on the Sri Lankan stockbroking industry, this paper shows how the return on equity deteriorates and potential growth restricted, when the regulations require firms to deduct certain assets from the capital base to meet the minimum capital requirements. The results show that the potential growth and return on equity reduce substantially after compliance with the regulation. Further, the regulation restricts a firm’s attempt to diversify the collateral portfolio in the market in order to reduce the systematic risk attached to the securities in the collateral portfolio. These regulatory restrictions also add an additional stress level to corporate management to leverage the number of times of sales (sales turnover) in order to overcome the issue, which may result in overtrading. It may also create ethical issues on soliciting clients and induce them to trade in the stock market, without proper justifications. Keywords: net capital, Basel regulation, working capital hedging, potential growth analysis, DuPont analysis, return on equity
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Duho, King Carl Tornam, and Joseph Mensah Onumah. "Bank diversification strategy and intellectual capital in Ghana: an empirical analysis." Asian Journal of Accounting Research 4, no. 2 (October 14, 2019): 246–59. http://dx.doi.org/10.1108/ajar-04-2019-0026.
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Purpose The purpose of this paper is to examine the impact of intellectual capital and its components on bank diversification choice. Design/methodology/approach Both asset and income diversification are computed and an unbalanced panel data set of 32 banks covering the period 2000–2015 have been used. The panel corrected standard error regression has been used to account for serial correlation and heteroscedasticity. Findings The study found that intellectual capital determines the choice of diversifying. Precisely, intellectual capital motivates asset diversity but it dissuades income diversification. Human capital and structural capital are major components that determine asset diversity decisions. Income diversification decision, in this case to choose a focus strategy, is determined by human capital. This gives credence for the human capital theory in Ghana. Competition encourages a focus strategy. Bank size and leverage enhances income diversification while stock exchange listing and government ownership fosters the focus strategy. Practical implications Diversification strategy, knowledge base of staff, corporate governance and internal control have been considered as factors leading to the collapse of some Ghanaian banks in 2017–2018. The study provides relevant insights for regulators, decision support units and corporate boards. Intellectual capital and value added metrics should be used for modelling and decision making as they have value relevance. Originality/value This is a premier study that has examined the nexus between diversification strategy and intellectual capital in banks.
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Huang, Der-Fen, Chenen Ko, and Chi-Chun Liu. "The Risk-Relevant Information Content of Changes in the Basel Capital Regulations in Taiwan." Review of Pacific Basin Financial Markets and Policies 07, no. 01 (March 2004): 91–117. http://dx.doi.org/10.1142/s0219091504000044.
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This paper examines the risk-relevance of the Basel capital regulations in Taiwan. We investigate (1) whether the regulatory information can explain bank risk, (2) whether the new 1998 version provides incremental information to assess bank risk, given the old 1992 version, and (3) which regulatory version is more useful in assessing bank risk. This paper employs an option pricing methodology to calculate implied asset risk as a proxy for total risk. We find that the Basel capital ratio and its components help explain risk and that the components under the new version have incremental explanatory power over those under the old. Additionally, the new version has greater information regarding risk than the old. Finally, two risk dimensions categorized by supervisors, credit risk and market risk have different explanatory power. Regulatory information about credit risk has explanatory power, but market risk does not. It implies that the Basel accord, contrary to expectation, does not fully capture all risk. Overall, this study contributes to capturing the risk-relevance of the ongoing evolution of the Basel capital regulations in an emerging market economy.
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Vytev, Zhelao, and Hazir Gashi. "EFFECT OF THE REGULATORY FRAMEWORK BASEL III ON BENEFITS OF THE BANKING SECTOR IN THE REPUBLIC OF NORTH MACEDONIA." Knowledge International Journal 31, no. 1 (June 5, 2019): 81–87. http://dx.doi.org/10.35120/kij310181v.
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Object of attention in the present work is the profitability and efficiency of banks in the Republic of Northern Macedonia. The subject of the study is focused on the strength and direction of influence of the new Basel III regulatory framework on their final financial results. The purpose of the paper is to reveal the effect of using modern regulatory requirements on the profitability of the country's banking system. The study includes observations on developments in the banking sector for the period 2007-2018. A coefficient of analysis is applied using a system of appropriately selected indicators: cost / income ratio, ROA, asset yield, earnings margin, unit costs, net earnings per share unit cost of staff efficiency factor. An analysis of real empirical data reveals that the implementation of the new regulatory measures does not have a negative effect on the final financial results of the banks, but rather a trend towards improvement of a number of their key financial indicators.
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Yue, Liu, and Liu Tianming. "Short- and Long-Horizon Behavioral Anomalies and Institutional Investors’ Nudge Behavior: Based on the Data of Listed Chinese Tobacco Companies." Tobacco Regulatory Science 7, no. 5 (September 30, 2021): 1904–22. http://dx.doi.org/10.18001/trs.7.5.112.
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We use the data of listed tobacco companies in China to study the existence of short- and long-horizon behavioral anomalies and the impact of institutional investors’ behavior on them. We found that the existing asset pricing models cannot explain the short- and long-horizon behavioral anomalies based on tobacco enterprise data. Conversely, the short- and long-horizon behavioral anomalies can explain the exciting asset pricing factors. Compared with existing asset pricing models, behavioral anomalies have a stronger ability to explain anomalies. Behavioral anomalies could pass the cross-sectionally test and strengthened over time. The above results indicate that behavioral anomalies exist in China tobacco enterprisest significantly and are time-varying. We found that the limits to arbitrage and cognitive bias lead to the existence of behavioral anomalies through mechanism tests. Institutional investors did not play the role of price discovery. Instead, their nudge behavior strengthens the short- and long-horizon behavioral anomalies. Therefore, tobacco regulatory agencies should guide listed tobacco companies to broaden information channels to reduce information asymmetry in the market through relevant policies, strengthen the supervision of institutional investors’ bubble riding behavior, and promote the healthy development of the tobacco market.
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De Jongh, Riaan, Tanja Verster, Elzabe Reynolds, Morne Joubert, and Helgard Raubenheimer. "A Critical Review Of The Basel Margin Of Conservatism Requirement In A Retail Credit Context." International Business & Economics Research Journal (IBER) 16, no. 4 (October 2, 2017): 257–74. http://dx.doi.org/10.19030/iber.v16i4.10041.
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The Basel II accord (2006) includes guidelines to financial institutions for the estimation of regulatory capital (RC) for retail credit risk. Under the advanced Internal Ratings Based (IRB) approach, the formula suggested for calculating RC is based on the Asymptotic Risk Factor (ASRF) model, which assumes that a borrower will default if the value of its assets were to fall below the value of its debts. The primary inputs needed in this formula are estimates of probability of default (PD), loss given default (LGD) and exposure at default (EAD). Banks for whom usage of the advanced IRB approach have been approved usually obtain these estimates from complex models developed in-house. Basel II recognises that estimates of PDs, LGDs, and EADs are likely to involve unpredictable errors, and then states that, in order to avoid over-optimism, a bank must add to its estimates a margin of conservatism (MoC) that is related to the likely range of errors. Basel II also requires several other measures of conservatism that have to be incorporated. These conservatism requirements lead to confusion among banks and regulators as to what exactly is required as far as a margin of conservatism is concerned. In this paper, we discuss the ASRF model and its shortcomings, as well as Basel II conservatism requirements. We study the MoC concept and review possible approaches for its implementation. Our overall objective is to highlight certain issues regarding shortcomings inherent to a pervasively used model to bank practitioners and regulators and to potentially offer a less confusing interpretation of the MoC concept.