28 articles in this issue
Khaled Guesmi, Frederic Teulon, Zied Ftiti
This paper studiesthe volatility in ten Europeanstock markets (Denmark, France, Germany, Ireland, Italy, Netherland, Spain, Sweden,Switzerland and United Kingdom) during the periods of financial crisis (East Asian currency crisis, Subprime crisis) from 19... see more
Kun Su, Rui Wan
Using a firm-level panel data of Chinese listed firms, this paper examines the effects of state control on firm value and the different impacts that have under different degree of marketization deeply. The results show: compared with non-state controlled ... see more
Jiten Vasant, Laurent Irgolic, Ryan Kruger, Kanshukan Rajaratnam
This study investigates the effectiveness of semivariance versus mean-variance optimisation on a risk-adjusted basis on the JSE. We compare semivariance and mean-variance optimisation prior to, during and after the recent financial crisis period. Addition... see more
Jens Blumrodt, Adrian Palmer
The marketing of tourism destinations has become increasingly competitive. However, a tourism destination cannot be seen as a single destination-based entity competing with other destinations. Each tourism destination manager must typically integrate a ne... see more
Eahab Elsaid
The purpose of this paper is to examine, within a succession framework, the impact of the change in CEO gender from female to male on firm performance and probability of bankruptcy. We also examine the impact of change in CEO functional and educational ba... see more
Seungjae Shin, Won-jun Lee
The Near Field Communication (NFC) mobile payment is the integration of NFC enabled smartphones and credit/debit/prepaid cards. Korea is a pioneer in rolling out the NFC mobile payment. Global mobile industries pay attention to whether Korean mobile users... see more
Maria Malik, Difang Wan, Laiba Dar, Aqsa Akbar, Muhammad Akram Naseem
This paper investigates the influence of job benefits on job satisfaction of Public and Private Business Schools in Pakistan. Further it also examines the mediating effect of Work Life Balance (WLB) on job satisfaction and job benefit relationship. A samp... see more
Andreas G. Heymans, Chris van Heerden
In response to the wealth destruction caused by the 2007/2008 global financial crisis, many developed economies have lowered their interest rates to improve their balance sheets (SARB, 2008-2012). However, in order for investors to sustain expected return... see more
Faten Ben Bouheni, Hachmi Ben Ameur, Abdoulkarim Idi Cheffou, Fredj Jawadi
This paper studies the effects of regulatory and supervisory policies on profitability and risk-taking for European banks over the period 2005 to 2011. As these effects may vary according to the banks, we apply the Generalized Method of Moments (GMM) for ... see more
Davide Castellani, Laura Vigan0, Belaynesh Tamre
The ability of Ethiopian farmers to deal with rainfall risk is scanty due to the extension of land plots and incomplete and inefficient financial markets. Traditional drought insurance is flawed by information asymmetries, high administrative costs, and n... see more
Lumengo Bonga-Bonga, Martin Perold
During recent years, there has been widespread interest in South Africa for the so-called flat tax systems that appear to have been implemented successfully in Eastern Europe. This paper applied a CGE modelling technique to compare the performance of the ... see more
Zachary A. Smith, Alan Harper
This study uses the demise of the Home Value Insurance Company (HVIC) to explore whether the concept of home equity insurance is implementable. Shiller, R. and Weiss, A. (1999) and Goetzmann, W., Caplin, A., Hangen, E., Nalebuff, B., Prentce, E., Rodkin, ... see more
Mark Veltman, Robert Kooij, Sebastian Marban
This study introduces the term sales bottleneck, defined as a stage in a total production or service delivery process that limits sales. After analyzing the suitability of traditional methods to find sales bottlenecks, the study proposes the bottleneck ac... see more
Jungeun Cho, Hyunjung Choi
In this paper, we examine the association between over-investment and the cost of debt. Using bond yield spreads as a proxy for the cost of debt, we find that over-investment is positively associated with bond yield spreads. This suggests that when firms ... see more
Ying Sun, Wenjing Ouyang
The existing literature provides mixed evidence of the impact of ISO 9000 international standards on country level export growth. Since it is costly to adopt the international standards, it is important to understand how these standards increase exports a... see more
Barbara Caemmerer, Raluca Mogos Descotes
With growing awareness of the importance of establishing good relationships with immediate stakeholder groups the scope of sponsorship broadens. Management objectives concerning sponsorship are now often either commercial or relational in nature. As most ... see more
Sang Hyun Park, Jaywon Lee
Managers sometimes manage earnings upward (i.e., engage in earnings management) or guide analyst forecasts downward (i.e., engage in expectation management) to meet or beat analysts earnings forecasts (MBE). Our results suggest that certain management beh... see more
Xinyi Lu
This paper examines the relationship between the regional variation in social capital in the United States and the propensity and properties of the management earnings forecasts. Social capital refers to connections among individualssocial networks and th... see more
Christian Schmaltz, Periklis Thivaios
No, they are not. Although they exhibit similar cash flow patterns (economic perspective) this article argues that from a legal, accounting and regulatory perspective credit default swaps (CDS) are not considered to be an insurance contract. The protectio... see more
Scott Mackey
This research investigates the trend following relationships between Commodity Trading Advisor (CTA) Indexes and a widely known trend following proxy Index using a database covering 21 years with 24 CTA, Managed Futures, and Hedge Fund (that can trade CTA... see more
Yura Kim
This paper examines whether public equity firms and private equity firms with public debt exhibit different degrees of real earnings management, defined as the manipulation of operational activities in order to influence reported earnings. Public equity f... see more
Arben Zibri, Agim Kukeli
This paper studies the out of sample risk reduction of global minimum variance portfolio. The analysis are drown from the discussions of Jagannathan and Ma (2003) regarding the risk reduction in US stock portfolios using portfolio constraints. We estimate... see more
Albert E. DePrince, Jr., A. Eugene DePrince III
Use of target date funds (TDFs) in retirement plans increased in popularity following the 2007-2008 financial crisis. However, some argued that TDFs do not provide an acceptable level of protection against market downturns and long-tail events. This study... see more
Gregory L. Nagel
This paper is based on Robert Shillers view that hiring of external CEOs is excessive due to boards overconfidence and causes reduced firm performance. External hire selections provide all CEOs with bargaining power. I show excessive external hiring provi... see more
Okey Igbonagwam, V. Joy Rose
This paper investigates the role technology can play in fostering good business practices that would deter economic corruption and extortion in developing countries. This paper first provides a problem statement with a brief description of corruption in f... see more
Aurelie Sannajust, Fabien Roux, Anissa Chaibi
In the last few years, small firms have had difficulties to finance their projects via the traditional bank system. A new type of financing has recently appeared in Europe and in particular in France: the crowdfunding. It is a method for funding a variety... see more
Kathleen Hodnett, Geare Botes, Khumbudzo Daswa, Kimberly Davids, Emmanuel Che Fongwa, Candice Fortuin
Mean-variance efficiency was first explained by Markowitz (1952) who derived an efficient frontier comprised of portfolios with the highest expected returns for a given level of risk borne by the investor. The assumed mean-variance efficiency of the marke... see more
kathleen Hodnett
This study attempts to establish the cyclical nature of the value-growth spread on the Johannesburg Stock Exchange (JSE) over the period from 1 January 1997 through 31 December 2013, and subsequently undertakes to determine if the recent value-growth spre... see more