The structure of data collection should always follow the users’ requirements. The way in which respective countries are affected by the financial crisis determines the users’ requirements and ultimately the data needs. The financial crisis, which turned into a global recession, has provided a good opportunity to carry out a stocktaking exercise in the area of data availability. In the case of ...

Turmoil in financial markets is often accompanied by a significant decrease in market liquidity. Here, we investigate how such key risk measures as likelihood of insolvency, value at risk, and expected tail loss respond to bid– ask spreads that are likely to widen just when positions must be liquidated to maintain capital ratios. Our results show that this sort of illiquidity causes significant...

Studies examining what factors influence relevance of reported numbers in financial statements is becoming increasingly important in the accounting and finance literature. This is an important area for regulators in particular. An understanding of what factors contribute to or detract from value relevance of accounting numbers is essential in the light of globalization that has resulted in inte...

Rapid growth in financial markets, increasing volatility and globalization are the main reasons of growing importance of financial risk management (FRM) which nowadays becomes a serious matter not only for financial institution. Several risks, possible targets and measures of each dimension of risk, several types of tools and techniques come together to form the FRM. This is the reason why this...

Abstract: This paper surveys empirical research that shows that small and medium enterprises (SMEs) are more constrained by financing and other institutional obstacles than large enterprises, exacerbated by the weaknesses in the financial systems of many developing countries. We use the concept of the access possibilities frontier to explain how difficulties in managing risk and transaction cos...

Financial fraud is increasing significantly with the development of modern technology and the global superhighways of communication, resulting in the loss of billions of dollars worldwide each year. The companies and financial institution loose huge amounts due to fraud and fraudsters continuously try to find new rules and tactics to commit illegal actions. Thus, fraud detection systems have be...

In the context of the recent policies concerning anti-money laundering and counter terrorist financing defined by the Financial Action Task Force Recommendation 16, it is the responsibility of the financial institution to monitor the quality of the information present in wire transfers. To that end we present in this paper an approach to automate the monitoring and the validation of the informa...

This paper addresses two main questions. First, it examines the implications of financial frictions, embedded in a New Keynesian DSGE model with a banking sector, for the conduct of welfare-optimal monetary policy. Assuming only one monetary instrument, we analyse how financial frictions affect the gains from commitment and how different are the optimized simple rules with and without financial...

It is often argued that the provision of liquidity by the international institutions such as the IMF to countries experiencing balance of payment problems can have catalytic effects on the behavior of international financial markets, i.e., it can reduce the scale of liquidity runs by inducing investors to roll over their financial claims to the country. Critics point out that official lending a...

The concept of corporate reputation reflects the standing of a firm based on the public perception. Firms with high corporate reputation are better able to sustain superior performance. During the financial crisis, the corporate reputation of financial institutions has decreased resulting in a bad perception of the financial sector by the public. However, improving their corporate reputation is...