In general, corporations in high-tech industries pursue Corporate Venture Capital investments for financial and strategic objectives. In particular, a large number of corporations have invested in e-business ventures in order to enhance innovation and entrepreneurship within the firm’s network. The achievement of strategic objectives is often comparatively difficult to measure and may take seve...

Harmonisation of accounting standards has been an important process in response to globalisation of capital markets. “The globalisation of capital markets and the developments in telecommunications and the internet bring new significance to the need for comparable and transparent financial reporting and require new thinking by companies, investors, creditors and auditors about what financial in...

This study uses property/liability insurance industry as research sample to examine how risk management, financial management, and capital management are related to each another, thereby reflecting such interactions in the managerial decisions in the choice of derivative and reinsurance use, in the allocation of asset risks, in the determination of underwriting activities as well as liability r...

This paper investigates the effects of financial institutions issuing contingent capital, a debt security that automatically converts into equity if assets fall below a predetermined threshold. We analyze a tractable form of contingent convertible bonds (“coco”) and provide a closed-form solution for the price. We quantify the reduction in default probability associated with contingent capital ...

Financing decisions is one of the important areas in financial management to increase shareholder’s wealth. To determine how managers achieve this object, it can say performance measurement of company. In this paper we have studied the issue of whether the capital-structure decision impacts firms’ performance. For this reason, we used 3 definition of capital structure in scope of book value to ...

We develop a tractable two-country overlapping generations model and show analytically that the cross-country differences in financial development help explain three recent empirical facts characterizing international capital flows: financial capital flows from relatively poor to relatively rich countries while FDI flows in the opposite direction; net capital flows are from poor to rich countri...

Fundamental economic principles provide a rationale for requiring financial institutions to use mark-to-market, or fair value, accounting for financial reporting. The recent turmoil in financial markets, however, has raised questions about whether fair value accounting is exacerbating the problems. In this paper, we review the history and practice of fair value accounting, and summarize the lit...

The effect of corporate social responsibility (CSR) on financial performance has important implications for enterprises, communities, and countries, and the significance of this issue cannot be ignored. Therefore, this paper proposes an integrated model to explain the influence of CSR on financial performance with intellectual capital as a mediator and industry type as a moderator. Empirical re...

One of the main characteristics of “financialization” is the redistribution of income in favor of shareholders, at the expense of workers. In this paper, we interpret pro-shareholder redistribution as a decrease in both retention ratio and wage share. Using both the Kaleckian macroeconomic model and the Minskyan taxonomy of finance regime, we investigate the long-run effects of such parametric ...

This study analyzes the relevance of capital adjustment and risk-taking adjustment during the financial tsunami when the banking industry was under capital regulation. Using the panel data of commercial banks in the USA and non-USA from 2003 to 2009, we consider the effects of financial freedom, concentration and governance control simultaneously by threestage least square analysis. The results...