Procedia Economics and Finance最新文献

This paper aims to investigate the perception of employers and educators on the importance of knowledge taught in higher education and soft skills embedded to the accounting students. The sample consists of 127 educators and 95 employers in accounting and finance related field. The respondents agreed on different value to the employability knowledge and skills of the accounting graduates. Employers place higher value for taxation rather than auditing and services which perceived essential by educators. There is significant difference between employers and educators on importance of the graduate skills. The employers’ response that graduates should learn at a faster pace in accounting career. Meanwhile, the educators believed that there is too much reliance on memorization in accounting education. Overall, the highest three skillrequirements to accounting graduates are written communication, continuous learning and decision making skills.

Many scientists and economists state that the degree of global integration of the Central and Eastern European countries (CEECs) stock markets is very low. However, the recent turmoils in the major financial centers in USA, China, etc. raise the question about the possible transmission of the global shocks to the CEECs stock markets despite the low degree of financial integration. The main research questions are: can the spillover effect transmit from the major stock markets on the CEECs stock markets and what type of shocks cause the cross-border contagion risk transmission to the CEECs stock markets? The objective of this study – to identify the transmission of global shocks through stock markets channel in the CEECs. The research methods: the systemic, logical and comparative analysis of the scientific literature and statistical methods: Dynamic Conditional Correlation Generalized Autoregressive Conditional Heteroskedasticity (DCC-GARCH) model. The empirical results of this study suggest that the highest degree of global and regional integration of the stock markets was observed in Poland's, Czech Republic's, and Hungary's stock markets that can be explained by higher development level of these stock markets comparing to other CEECs. The collapse of Lehman Brothers bank in United States in 2008 was the most significant shock transmitted to CEECs stock markets. The empirical results also suggest that the transmission of other systemic shocks (e.g. the Middle East financial markets crash (May 2006), Greek debt crisis (April 23, 2010), Portugal's debt crisis (May 16, 2011)) was also observed on some of the CEECs countries.

Management accountant in the twentieth centuries is no longer a traditional ‘bean counting’, but now has to become a ‘hybrid accountant’ within an organization. They are now facing intense challenges and are expected to adapt with rapid changes in business environment. Companies demand for more proactive management accountants, who are now expecting to become part of management and ready to accept exciting challenges ahead. This paper discusses issues on environmental and organizational factors, which are believed to be the major contributor to the key challenges faced by management accountant nowadays. A conceptual framework was developed which forms the relationship between management accountants’ roles, tasks and factors driving to the changes that leads to challenges faced by management accountants in the 21st century.

Traditionally, the primary objective of financial management is known as the maximization of shareholder wealth. Companies are also responsible for the interests of stakeholders and society at large. The concept which describes this new approach is called as “Corporate Social Responsibility” (CSR). It is an interdisciplinary and multidimensional concept. Companies disclose their CSR activities through annual reports or a special CSR report. Measurement of social performance is a subjective and judgmental issue, and one of the methods for this purpose is to score companies based on their CSR disclosures. The level and quality of CSR disclosures depend on several factors. We search for the relationship between CSR disclosure scores and corporate governance related bank characteristics by considering five dimensions of CSR. We find out that stock exchange listing, ownership and bank type influence the CSR disclosure of banks.

Good corporate governance (CG) has been widely linked to the corporate performance. Based on the traditional agency theory, maximising the shareholders’ value denotes the aim to gain better performance through profit maximisation. Taking from a different view, this study attempts to examine to which extent the companies with good CG scores will have good performance from an Islamic perspective (proxied by profit measurement). This study also intends to investigate whether the board attributes as internal governance mechanisms could exert significant influence towards a) overall corporate performance, and b) striving either for profit maximization or moderation. The data is gathered through conducting a content analysis of corporate annual reports of top 50 largest companies (which ranked based on good CG performance). The empirical results indicate that those directors who hold professional accounting qualification are statistically associated with lower total revenues. However, none of the directors’ attributes appears to have significant association with the four proxies of corporate performance. The findings further provide evidence that all board attributes fail to prove their significant influence on the profit moderation as well as profit maximization.

The author of the paper by means of the retrospective analysis described the process of penetration of English business lexemes during the different periods of development of the Turkic languages, paying attention to the main -extra and intralinguistic reasons for borrowings. The carried out analysis by the author of the research on English business lexemes allows drawing a conclusion about changes both conceptual and the people's linguistic worldview, about the new phenomena in its social and economic life, demanding language fixing. The author draws a conclusion that any language including the loan words in its system, compels it to the comprehensive assimilation, existing laws and tendencies on all layers of this language structure, however receives also a part of a linguistic worldview of other people. Therefore, this paper had carried out on a linguistics and semiotics joint with attraction of data from area of ethnology, sociology, cultural science, psychology and ecolinguistics. The author also proves that English business lexemes constitute considerable layer of modern Kazakh and Turkish languages and enter into a communicative system of a contemporary lexicon.

The base and the root cause of the institution of arbitration in the international and domestic arenas stemmed from the existence of vacuum in the normal and public procedure in the formal existence that led to slow investigation and spending of costs for the state and the two sides of the argument. Thus, in most countries in the world, detailed regulations were approved regarding various types of arbitration and its conditions and effects.

In the domestic arena, arbitration rules with a focus on civil law are considered to be among non-formal contracts and in the international arena, Iranian Law, in line with International Arbitration Law, has considered the arbitration contract to be among formal contracts and emphasizes the necessity of the written arbitration contract; furthermore, in domestic regulations, arbitration agreement is considered as subject to the main contract and in Iranian Law on International Arbitration, autonomy of the arbitration contract from the main contract has been recognized

National Park Sustainability (NPSus) is an important construct in the context of national parks which will lead tourism industry to move towards sustainable national parks. Although previous studies examined the tourist behavioral intention through deployment of sustainability principles or destination sustainability, there is a lack of research on the effect of NPSus on National Park Behavioral Intention (NPBI). To address this gap, this study developed a model which investigates the effect of NPSus as an independent variable, and National Park Satisfaction (NPSat) as mediator on tourist NPBI. The research hypotheses where NPSus and NPSat have a significant effect on NPBI was examined. A self-administrated questionnaire was distributed among 600 tourists from developed countries visiting Kinabalu National Park (KNP). The data was examined through deployment of structural equation modelling. The findings revealed that NPSus does not affect NPBI directly, however, NPSus has a significant indirect effect on tourist NPBI through mediation effect of NPSat. Furthermore, NPSat was a full mediator. Findings of this study had practical implication to enhance destination sustainability by better understanding the NPBI.

The purpose of this study is to gather arguments and counterarguments about the effective use of various types of social media that an organization can use in crisis preparedness, response and recovery. This study focuses on various industries worldwide. British Petroleum (BP) case study as well related industrial case studies is the main methodology of this study; and qualitative methods was used as an approach for this study. Social media can be an effective tool in order to convey information and explain current issues to the public. Various types of social media play different roles with one main purpose, which is to disseminate information on an urgent basis and share it with a wide range of people. In a crisis, it is vital to plan a response and share information strategically via social media in order to control the information and avoid a worsening crisis. This also aims to reduce any potential tarnishing of the company's image, something which can easily occur as a result of poor communication with the public. The key limitation is that when secondary data such as an organisation's website and documentation are accessed, there is a risk that it may not be accurate or current. This study attempts to highlight the importance for industries practitioners to utilize social media as an effective platform as part of organization's crisis communication strategies.

The present thesis aims at investigating the macroeconomic impact of economic freedom on foreign direct investments inflows in both global and regional panel analysis concerning 156 countries through the periods of 1995-2013. Unlike existing literature, it includes often neglected nations such as Fragile and Conflict-Affected states, Sub-Saharan, Oceania, and Post-Soviet countries. This present study investigates not only the global impact of economic freedom on FDI inflows but also makes regional analysis. The paper finds a positive impact of economic freedom on FDI under fixed-effects model in global case where a unit change in economic freedom scales FDI inflows up to 0.0835 units. More specifically, all 9 regions also refer to positive and significant impact of economic freedom on FDI. The highest impact is recorded in European countries, whereas the lowest ones are documented in Oceania and Fragile-Conflict affected states.