Market self-regulation is a process by which the market constantly regulates itself thanks to the interaction and relationships between the forces and agents that operate in it. In this context, auditing companies play a fundamental role in verifying the companies' accounting information, which must represent a true image of the economic and financial reality of the company, necessary for the efficiency of the self-regulation system. This article seeks, based on the analysis of the audit work in Spain, and in cases of accounting fraud scandals in which various audit firms have been sprinkled in our country, to conclude whether or not this self-regulatory system is an efficient system.
{"title":"Scandals in auditing companies as an example of market self-regulation","authors":"Alejandro Adán Roselló","doi":"10.46503/atph6502","DOIUrl":"https://doi.org/10.46503/atph6502","url":null,"abstract":"Market self-regulation is a process by which the market constantly regulates itself thanks to the interaction and relationships between the forces and agents that operate in it. In this context, auditing companies play a fundamental role in verifying the companies' accounting information, which must represent a true image of the economic and financial reality of the company, necessary for the efficiency of the self-regulation system. This article seeks, based on the analysis of the audit work in Spain, and in cases of accounting fraud scandals in which various audit firms have been sprinkled in our country, to conclude whether or not this self-regulatory system is an efficient system.","PeriodicalId":438645,"journal":{"name":"Finance, Markets and Valuation","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131180648","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Tensions are now known between the interests of holders of patent rights over medicines and those of other groups, especially in developing countries. This work tries to deepen these interests from a point of view, mainly legal, which is accompanied by comments of an economic nature, while identifying possible legal and institutional ways to alleviate the negative social consequences of the current system. To this end, the conflicts generated by patents in the context of public health and, specifically, in relation to access to medicines, will be described, to then address the role of intellectual property systems and the concept and scope of public health. Finally, various legal channels will be presented to reconcile the affected interests and possible programmatic and institutional measures.
{"title":"Patents and public health","authors":"Corberá Martínez, J. Miguel","doi":"10.46503/afcw9681","DOIUrl":"https://doi.org/10.46503/afcw9681","url":null,"abstract":"Tensions are now known between the interests of holders of patent rights over medicines and those of other groups, especially in developing countries. This work tries to deepen these interests from a point of view, mainly legal, which is accompanied by comments of an economic nature, while identifying possible legal and institutional ways to alleviate the negative social consequences of the current system. To this end, the conflicts generated by patents in the context of public health and, specifically, in relation to access to medicines, will be described, to then address the role of intellectual property systems and the concept and scope of public health. Finally, various legal channels will be presented to reconcile the affected interests and possible programmatic and institutional measures.","PeriodicalId":438645,"journal":{"name":"Finance, Markets and Valuation","volume":"55 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114717023","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Ana Gladys Torres Castaño, Leidy Johanna Ramirez Ramirez, Rubén Antonio Vélez Ramirez
Investment not only generates employment and more tax revenue for municipalities, but also becomes an engine of development that boosts the economy and trade flows, stimulating competition, innovation and economic growth in a region, which in the end translates into well-being for the general population, This study aims to identify which tax aspects of the industry and commerce tax have influenced the progress business growth and investment by domestic and foreign entrepreneurs in the municipality of Armenia in the years 2018 to 2021.
{"title":"Effect on the new investments that the industry and commerce tax has on the business organizations of the municipality of Armenia Quindío - Colombia","authors":"Ana Gladys Torres Castaño, Leidy Johanna Ramirez Ramirez, Rubén Antonio Vélez Ramirez","doi":"10.46503/phxs7354","DOIUrl":"https://doi.org/10.46503/phxs7354","url":null,"abstract":"Investment not only generates employment and more tax revenue for municipalities, but also becomes an engine of development that boosts the economy and trade flows, stimulating competition, innovation and economic growth in a region, which in the end translates into well-being for the general population, This study aims to identify which tax aspects of the industry and commerce tax have influenced the progress business growth and investment by domestic and foreign entrepreneurs in the municipality of Armenia in the years 2018 to 2021.","PeriodicalId":438645,"journal":{"name":"Finance, Markets and Valuation","volume":" 45","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"113948015","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This article studies the correlation between companies listed on the Spanish continuous market and a set of ratios and financial economic variables used to measure business performance. The goal is to explain the behavior of the prices of the shares of the Spanish continuous market and design a model that optimizes long-term investments. The returns are compared with those of the Ibex 35 and the Ibex Total Return and it is concluded that some ratios have more influence than others in the evolution of the price and that it is not possible to beat the market significantly.
{"title":"The value of financial information to make investment decisions in the Spanish stock market","authors":"R. Barberá Beltrán","doi":"10.46503/uyhb1869","DOIUrl":"https://doi.org/10.46503/uyhb1869","url":null,"abstract":"This article studies the correlation between companies listed on the Spanish continuous market and a set of ratios and financial economic variables used to measure business performance. The goal is to explain the behavior of the prices of the shares of the Spanish continuous market and design a model that optimizes long-term investments. The returns are compared with those of the Ibex 35 and the Ibex Total Return and it is concluded that some ratios have more influence than others in the evolution of the price and that it is not possible to beat the market significantly.","PeriodicalId":438645,"journal":{"name":"Finance, Markets and Valuation","volume":"30 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127098110","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Rosislene de Fátima Fontana, Raphael Miranda Medeiros Cruz
This study addresses farmers’ market as an alternative for sustainable development, within the social conjuncture of family agriculture and its productive system. Farmers’ markets strengthen the bonds between urban and rural spheres, allowing the family farmers to find in this activity an opportunity to strengthen the local market. This research aims to analyze farmers’ market as an alternative for the strengthening of sustainable practices in the city of Marechal Cândido Rondon – PR. This is a bibliographic and documentary study, with a descriptive exploratory approach, contemplating the relationship between sustainability, rural development, family agriculture and rural markets, more precisely farmers’ market in the urban environment, complemented by a case study, with field research and application of a structured questionnaire with open and closed questions for the producers and organizers of the market. Thus, it was emphasized that farmers’ market really is composed of exhibitors, mostly farmers and family farmers, that can also be considered as a business alternative for family farming, acting as a driver for sustainable rural development, since it generates income and expands the opportunity to offer the commercialized products, bringing not only financial, as well as social and environmental return for the family farmer.
{"title":"Farmers’ market as an alternative for strengthening sustainable practices: a study in the city of Marechal Cândido Rondon – Paraná","authors":"Rosislene de Fátima Fontana, Raphael Miranda Medeiros Cruz","doi":"10.46503/ylla4664","DOIUrl":"https://doi.org/10.46503/ylla4664","url":null,"abstract":"This study addresses farmers’ market as an alternative for sustainable development, within the social conjuncture of family agriculture and its productive system. Farmers’ markets strengthen the bonds between urban and rural spheres, allowing the family farmers to find in this activity an opportunity to strengthen the local market. This research aims to analyze farmers’ market as an alternative for the strengthening of sustainable practices in the city of Marechal Cândido Rondon – PR. This is a bibliographic and documentary study, with a descriptive exploratory approach, contemplating the relationship between sustainability, rural development, family agriculture and rural markets, more precisely farmers’ market in the urban environment, complemented by a case study, with field research and application of a structured questionnaire with open and closed questions for the producers and organizers of the market. Thus, it was emphasized that farmers’ market really is composed of exhibitors, mostly farmers and family farmers, that can also be considered as a business alternative for family farming, acting as a driver for sustainable rural development, since it generates income and expands the opportunity to offer the commercialized products, bringing not only financial, as well as social and environmental return for the family farmer.","PeriodicalId":438645,"journal":{"name":"Finance, Markets and Valuation","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116185909","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The cryptocurrency market is emerging as a new asset class for the investment. As the traditional asset prices are often noted to be influenced by the liquidity risk, this study links the cryptocurrency liquidity cost to its yields. Pre-pandemic uncertainty, the Bitcoin liquidity cost was found to be priced in its returns during the same trading session. Post-pandemic crisis, the relationship was changed. The liquidity cost was reported not to be priced in the Bitcoin returns at the time of same trading session. Post-pandemic crisis, however, the liquidity cost imposed by the liquidity supplier on day t − 1 was noted to be priced in the Bitcoin return of day t . In the cryptocurrency market, this study quantifies the effects on the Bitcoin returns of its liquidity cost, and if such effects vary pre- and post-pandemic uncertainty.
{"title":"COVID-19 uncertainty and Bitcoin market, linking the liquidity cost to the cryptocurrency yields","authors":"Jawad Saleemi","doi":"10.46503/bjwt6248","DOIUrl":"https://doi.org/10.46503/bjwt6248","url":null,"abstract":"The cryptocurrency market is emerging as a new asset class for the investment. As the traditional asset prices are often noted to be influenced by the liquidity risk, this study links the cryptocurrency liquidity cost to its yields. Pre-pandemic uncertainty, the Bitcoin liquidity cost was found to be priced in its returns during the same trading session. Post-pandemic crisis, the relationship was changed. The liquidity cost was reported not to be priced in the Bitcoin returns at the time of same trading session. Post-pandemic crisis, however, the liquidity cost imposed by the liquidity supplier on day t − 1 was noted to be priced in the Bitcoin return of day t . In the cryptocurrency market, this study quantifies the effects on the Bitcoin returns of its liquidity cost, and if such effects vary pre- and post-pandemic uncertainty.","PeriodicalId":438645,"journal":{"name":"Finance, Markets and Valuation","volume":"48 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127683212","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This article aims at reviewing academic literature so as to identify internal factors that influence competitiveness in firms operating in the service sector, particularly referred as organizational capabilities and managerial skills. Based on a traditional approach of an exhaustive and critical literature review targeting academic sources published between 2010-2020, two emerging organisational capabilities are identified: cooperation with customers and innovation of services and organisational processes. Furthermore, two factors referring to managerial skills are characterised in this kind of firms: leadership style and external relationships of top managers. The article emphasises on the importance of identifying these factors as key elements in order to prioritise effors when developing and adopting action plans towards them in service firms. This will lead such firms to boosting competitiveness and perceive themselves in an advantageous position in comparison to their rivals.
{"title":"Characterisation of organisational capabilities and managerial skills in firms operating in the service sector: A literature review","authors":"L. F. García Sarmiento, J. F. Reyes-Rodríguez","doi":"10.46503/kilj3512","DOIUrl":"https://doi.org/10.46503/kilj3512","url":null,"abstract":"This article aims at reviewing academic literature so as to identify internal factors that influence competitiveness in firms operating in the service sector, particularly referred as organizational capabilities and managerial skills. Based on a traditional approach of an exhaustive and critical literature review targeting academic sources published between 2010-2020, two emerging organisational capabilities are identified: cooperation with customers and innovation of services and organisational processes. Furthermore, two factors referring to managerial skills are characterised in this kind of firms: leadership style and external relationships of top managers. The article emphasises on the importance of identifying these factors as key elements in order to prioritise effors when developing and adopting action plans towards them in service firms. This will lead such firms to boosting competitiveness and perceive themselves in an advantageous position in comparison to their rivals.","PeriodicalId":438645,"journal":{"name":"Finance, Markets and Valuation","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130468137","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The market liquidity plays an authoritative role in the execution of financial transaction. Since the liquidity has immediate impact on the trading, the liquidity risk has been gaining a huge attention in the asset pricing, corporate financing, and risk portfolio management. The bid-ask spread is often reported a significant indicator of the market liquidity and its associated cost in the financial market. This work proposes a new estimation of the bid-ask spread, namely the Informed Realized Spread (IRS). The IRS method is a modified version of the Realized Spread (RS), which exclusively illustrates the asymmetric information effects on the spread size. Despite differences behind the construction of spread proxies, the IRS model is found to be positive and strongly correlated with the RS model. The IRS method is straightforward, computationally less-intensive, and suitable for variety of research in the asset pricing studies.
{"title":"Asymmetric information modelling in the realized spread: A new simple estimation of the informed realized Spread","authors":"Jawad Saleemi","doi":"10.46503/jqyh3943","DOIUrl":"https://doi.org/10.46503/jqyh3943","url":null,"abstract":"The market liquidity plays an authoritative role in the execution of financial transaction. Since the liquidity has immediate impact on the trading, the liquidity risk has been gaining a huge attention in the asset pricing, corporate financing, and risk portfolio management. The bid-ask spread is often reported a significant indicator of the market liquidity and its associated cost in the financial market. This work proposes a new estimation of the bid-ask spread, namely the Informed Realized Spread (IRS). The IRS method is a modified version of the Realized Spread (RS), which exclusively illustrates the asymmetric information effects on the spread size. Despite differences behind the construction of spread proxies, the IRS model is found to be positive and strongly correlated with the RS model. The IRS method is straightforward, computationally less-intensive, and suitable for variety of research in the asset pricing studies.","PeriodicalId":438645,"journal":{"name":"Finance, Markets and Valuation","volume":"74 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121714461","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
京公网安备 11010802042870号
京ICP备2023020795号-1
扫码关注我们
求助内容：
应助结果提醒方式：