This article aims to critique the impact of Structural Reform Strategies of International Financial Institutions (IFIs) upon the rule of law, good governance and development in Pakistan. The key contention of this article is that the absence of social justice in Pakistan is a consequence of the interaction IFIs policies and weak structures of governance, the rule of law and development introduc...

This paper presents an analysis of the geography of the booming ‘Islamic financial services’ (IFS) sector, which provides a host of financial services based on Islamic religious grounds. The relevance of such an analysis is discussed against the conceptual backdrop of the world city network literature. It is argued that a focus on the globalization of the IFS sector may provide an alternative t...

In a series of recent studies, several economic historians (most prominently Richard Sylla) argue that successful economies experience ‘‘financial revolutions’’ before undergoing rapid growth. In the U.S., they suggest Hamilton masterminded the financial revolution by putting the public finance in order and facilitating private banks.MightMatsukata, they continue, have done the same in Japan? J...

Medical ethics is an indispensible and challenging aspect of clinical practice. This is particularly prominent in the field of organ transplantation. In this paper, initially, a clinical case with brain death that ended up as an organ donor will be presented. Following the presentation, important moral challenges which initially formed medical ethics and some highlights of it in organ transplan...

In this policy brief, we explore how predictions of changes in hospital financial performance as a result of change in Medicare payment differ when comparing results using data from the Medicare Cost Report (MCR) to results using data from the audited hospital financial statement (FS). The purpose of this exploratory research is to test the assumption that MCR data yield a valid indicator of ch...

The work of independent auditors involves two basic activities—evidence collection and evidence evaluation. Substantial agreement exists concerning the types of evidence that should be collected in particular situations and the appropriate collection techniques. The evidence-evaluation activity, however, is less susceptible to codification. As a result, the auditing profession relies heavily up...

This paper presents the first empirical test of the financial impacts of institutional investor activism towards climate change. Specifically, we study the conditions under which share prices are increased for the Financial Times (FT) Global 500 companies due to participation in the Carbon Disclosure Project (CDP), a consortium of institutional investors with $57 trillion in assets. We find no ...

This report was originally written as an industry white paper on Hedge Funds. This paper gives an overview to Hedge Funds, with a focus on risk management issues. We define and explain the general characteristics of Hedge Funds, their main investment strategies and the risk models employed. We address the problems in Hedge Fund modelling, survey current Hedge Funds available on the market and t...

Responding to the recent accounting scandals, the Securities and Exchange Commission (SEC) required chief executive officers (CEOs) and chief financial officers (CFOs) of large publicly traded companies to swear by their financial statements. Focusing on executive oaths that were filed by the first deadline of August 14, 2002, this study finds that stock markets, on average, reacted positively ...

The real macroeconomic instability and frequent changes in the monetary and banking regulations with financial contagion to the banks’ financial statements in the banking network of Iran cause intensified instabilities in its financial behaviors. In this paper, using statistical analysis and three-dimensional charts, we have analyzed the behavior of the financial statements of consolidated bala...