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expertise</title> <meta name="description" content="Search results for: financial expertise"> <meta name="keywords" content="financial expertise"> <meta name="viewport" content="width=device-width, initial-scale=1, minimum-scale=1, maximum-scale=1, user-scalable=no"> <meta charset="utf-8"> <link href="https://cdn.waset.org/favicon.ico" type="image/x-icon" rel="shortcut icon"> <link href="https://cdn.waset.org/static/plugins/bootstrap-4.2.1/css/bootstrap.min.css" rel="stylesheet"> <link href="https://cdn.waset.org/static/plugins/fontawesome/css/all.min.css" rel="stylesheet"> <link href="https://cdn.waset.org/static/css/site.css?v=150220211555" rel="stylesheet"> </head> <body> <header> <div class="container"> <nav class="navbar navbar-expand-lg navbar-light"> <a class="navbar-brand" href="https://waset.org"> <img src="https://cdn.waset.org/static/images/wasetc.png" alt="Open Science Research Excellence" title="Open Science Research Excellence" /> </a> <button class="d-block d-lg-none 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action="https://publications.waset.org/abstracts/search"> <div id="custom-search-input"> <div class="input-group"> <i class="fas fa-search"></i> <input type="text" class="search-query" name="q" placeholder="Author, Title, Abstract, Keywords" value="financial expertise"> <input type="submit" class="btn_search" value="Search"> </div> </div> </form> </div> </div> <div class="row mt-3"> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Commenced</strong> in January 2007</div> </div> </div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Frequency:</strong> Monthly</div> </div> </div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Edition:</strong> International</div> </div> </div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Paper Count:</strong> 3245</div> </div> </div> </div> <h1 class="mt-3 mb-3 text-center" style="font-size:1.6rem;">Search results for: financial expertise</h1> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3065</span> The Integration of Fintech Technologies in Crowdfunding: A Catalyst for Financial Inclusion and Responsible Finance</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Badrane%20Hasnaa">Badrane Hasnaa</a>, <a href="https://publications.waset.org/abstracts/search?q=Bouzahir%20Brahim"> Bouzahir Brahim</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This article examines the impact of fintech technologies on crowdfunding, particularly their potential to enhance financial inclusion and promote responsible finance. It explores how the adoption of blockchain, artificial intelligence, and other fintech innovations is transforming crowdfunding by making it more accessible, transparent, and ethical. By analyzing case studies and recent data, the article illustrates how these technologies help overcome traditional barriers to financing while promoting sustainable financial practices. The findings suggest that integrating fintech into crowdfunding can not only broaden access to funding for marginalized populations but also encourage more responsible management of financial resources, contributing to a fairer and more resilient economy. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=crowdfunding" title="crowdfunding">crowdfunding</a>, <a href="https://publications.waset.org/abstracts/search?q=fintech" title=" fintech"> fintech</a>, <a href="https://publications.waset.org/abstracts/search?q=inclusion%20financi%C3%A8re" title=" inclusion financière"> inclusion financière</a>, <a href="https://publications.waset.org/abstracts/search?q=finance%20responsible" title=" finance responsible"> finance responsible</a>, <a href="https://publications.waset.org/abstracts/search?q=blockchain" title=" blockchain"> blockchain</a>, <a href="https://publications.waset.org/abstracts/search?q=resilience%20financi%C3%A8re" title=" resilience financière"> resilience financière</a> </p> <a href="https://publications.waset.org/abstracts/189353/the-integration-of-fintech-technologies-in-crowdfunding-a-catalyst-for-financial-inclusion-and-responsible-finance" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/189353.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">22</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3064</span> Crowdfunding and Financial Inclusion</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Lawrence%20Ngalim">Lawrence Ngalim</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The paucity of entrepreneurial finance in Sub-Saharan Africa (SSA) can plausibly be tied to her comparatively less-developed capital markets, which potentially hurts entrepreneurial activities. The high rate of informality in SSA worsens information asymmetry, which restricts the supply of funds in a heavily bank-led environment. In this paper, we ask whether the adoption of recent technological improvements in delivering financial services, such as crowdfunding, assists the financially excluded within Africa. Secondly, we investigate the individual determinants of crowdfunding, such as income, level of education, demographics, culture/trust, and the effects of crowdfunding on households’ usage of formal financial services. The paper discusses the long-term policy implications of this particular type of fintech in achieving financial inclusion within the regional bloc and its advantage for Africa-Agenda-2063. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=fintech" title="fintech">fintech</a>, <a href="https://publications.waset.org/abstracts/search?q=banks" title=" banks"> banks</a>, <a href="https://publications.waset.org/abstracts/search?q=entrepreneurship" title=" entrepreneurship"> entrepreneurship</a>, <a href="https://publications.waset.org/abstracts/search?q=regional%20integration" title=" regional integration"> regional integration</a> </p> <a href="https://publications.waset.org/abstracts/160700/crowdfunding-and-financial-inclusion" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/160700.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">79</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3063</span> Disclosure of Financial Risk on Sharia Banks in Indonesia</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Renny%20Wulandari">Renny Wulandari</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This study aims to determine how the influence of Non Performing Financing, Financing Deposit Ratio, Operating Expenses and Operating Revenue and Net Income Margin on the disclosure of financial risk in Sharia banks. To achieve these objectives conducted associative research method with data source in the form of secondary data that is annual report data with period 2013-2016. The population in this study is the sharia banking industry in Indonesia and who issued the annual financial statements. A method of sampling use probability sampling. Analysis in this research is with SEM-PLS. The result is Net Income Margin has a significant effect on financial risk disclosure while Non Performing Financing (NPF) Financing to Deposit Ratio (FDR), Operating Expenses and Operating Revenue (OEOR) have no effect on the disclosure of financial risk in sharia bank. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Sharia%20banks" title="Sharia banks">Sharia banks</a>, <a href="https://publications.waset.org/abstracts/search?q=disclosure%20of%20risk%20financial" title=" disclosure of risk financial"> disclosure of risk financial</a>, <a href="https://publications.waset.org/abstracts/search?q=non%20performing%20financing" title=" non performing financing"> non performing financing</a>, <a href="https://publications.waset.org/abstracts/search?q=financing%20deposit%20ratio" title=" financing deposit ratio"> financing deposit ratio</a>, <a href="https://publications.waset.org/abstracts/search?q=operating%20expenses%20and%20operating%20revenue" title=" operating expenses and operating revenue"> operating expenses and operating revenue</a>, <a href="https://publications.waset.org/abstracts/search?q=net%20income%20margin" title=" net income margin"> net income margin</a> </p> <a href="https://publications.waset.org/abstracts/77832/disclosure-of-financial-risk-on-sharia-banks-in-indonesia" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/77832.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">234</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3062</span> Information Disclosure And Financial Sentiment Index Using a Machine Learning Approach</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Alev%20Atak">Alev Atak</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In this paper, we aim to create a financial sentiment index by investigating the company’s voluntary information disclosures. We retrieve structured content from BIST 100 companies’ financial reports for the period 1998-2018 and extract relevant financial information for sentiment analysis through Natural Language Processing. We measure strategy-related disclosures and their cross-sectional variation and classify report content into generic sections using synonym lists divided into four main categories according to their liquidity risk profile, risk positions, intra-annual information, and exposure to risk. We use Word Error Rate and Cosin Similarity for comparing and measuring text similarity and derivation in sets of texts. In addition to performing text extraction, we will provide a range of text analysis options, such as the readability metrics, word counts using pre-determined lists (e.g., forward-looking, uncertainty, tone, etc.), and comparison with reference corpus (word, parts of speech and semantic level). Therefore, we create an adequate analytical tool and a financial dictionary to depict the importance of granular financial disclosure for investors to identify correctly the risk-taking behavior and hence make the aggregated effects traceable. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=financial%20sentiment" title="financial sentiment">financial sentiment</a>, <a href="https://publications.waset.org/abstracts/search?q=machine%20learning" title=" machine learning"> machine learning</a>, <a href="https://publications.waset.org/abstracts/search?q=information%20disclosure" title=" information disclosure"> information disclosure</a>, <a href="https://publications.waset.org/abstracts/search?q=risk" title=" risk"> risk</a> </p> <a href="https://publications.waset.org/abstracts/158769/information-disclosure-and-financial-sentiment-index-using-a-machine-learning-approach" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/158769.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">94</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3061</span> A BERT-Based Model for Financial Social Media Sentiment Analysis</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Josiel%20Delgadillo">Josiel Delgadillo</a>, <a href="https://publications.waset.org/abstracts/search?q=Johnson%20Kinyua"> Johnson Kinyua</a>, <a href="https://publications.waset.org/abstracts/search?q=Charles%20Mutigwe"> Charles Mutigwe</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The purpose of sentiment analysis is to determine the sentiment strength (e.g., positive, negative, neutral) from a textual source for good decision-making. Natural language processing in domains such as financial markets requires knowledge of domain ontology, and pre-trained language models, such as BERT, have made significant breakthroughs in various NLP tasks by training on large-scale un-labeled generic corpora such as Wikipedia. However, sentiment analysis is a strong domain-dependent task. The rapid growth of social media has given users a platform to share their experiences and views about products, services, and processes, including financial markets. StockTwits and Twitter are social networks that allow the public to express their sentiments in real time. Hence, leveraging the success of unsupervised pre-training and a large amount of financial text available on social media platforms could potentially benefit a wide range of financial applications. This work is focused on sentiment analysis using social media text on platforms such as StockTwits and Twitter. To meet this need, SkyBERT, a domain-specific language model pre-trained and fine-tuned on financial corpora, has been developed. The results show that SkyBERT outperforms current state-of-the-art models in financial sentiment analysis. Extensive experimental results demonstrate the effectiveness and robustness of SkyBERT. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=BERT" title="BERT">BERT</a>, <a href="https://publications.waset.org/abstracts/search?q=financial%20markets" title=" financial markets"> financial markets</a>, <a href="https://publications.waset.org/abstracts/search?q=Twitter" title=" Twitter"> Twitter</a>, <a href="https://publications.waset.org/abstracts/search?q=sentiment%20analysis" title=" sentiment analysis"> sentiment analysis</a> </p> <a href="https://publications.waset.org/abstracts/156566/a-bert-based-model-for-financial-social-media-sentiment-analysis" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/156566.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">152</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3060</span> Relationship between Financial Reporting Transparency and Investment Efficiency: Evidence from Iran</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Bita%20Mashayekhi">Bita Mashayekhi</a>, <a href="https://publications.waset.org/abstracts/search?q=Hamid%20Kalhornia"> Hamid Kalhornia</a> </p> <p class="card-text"><strong>Abstract:</strong></p> One of the most important roles of financial reporting is improving the firms’ investment decisions; however, there is not much supporting evidence for this claim in emerging markets like Iran. In this study, the effect of financial reporting transparency in investment efficiency of Iranian firms has been investigated. In order to do this, 336 listed companies on Tehran Stock Exchange (TSE) has been selected for time period 2012 to 2015 as research sample. For testing our main hypothesis, we classified sample firms into two groups based on their deviation from expected investment: under-investment and over-investment cases. The results indicate that there is positive significant relationship between financial transparency and investment efficiency. In the other words, transparency can mitigate both underinvestment and overinvestment situations. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=corporate%20governance" title="corporate governance">corporate governance</a>, <a href="https://publications.waset.org/abstracts/search?q=disclosure" title=" disclosure"> disclosure</a>, <a href="https://publications.waset.org/abstracts/search?q=investment%20decisions" title=" investment decisions"> investment decisions</a>, <a href="https://publications.waset.org/abstracts/search?q=investment%20efficiency" title=" investment efficiency"> investment efficiency</a>, <a href="https://publications.waset.org/abstracts/search?q=transparency" title=" transparency"> transparency</a> </p> <a href="https://publications.waset.org/abstracts/47721/relationship-between-financial-reporting-transparency-and-investment-efficiency-evidence-from-iran" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/47721.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">379</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3059</span> An Investigation of Cyber Financial Crimes After the Enactment of PECA: A Case Study of Pakistan’s Banking Sector During 2016 to 2022</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Zain%20Khalid">Zain Khalid</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The paper outlines the trends of cyber financial crimes and frauds – approximating upto – in Pakistan after the enactment of The Prevention of Electronic Crimes Act in 2016. The paper elaborates on the newer methods that fraudsters have adopted after tighter preventive and counter measures were employed in Pakistan partly as a result of following the international finance related commitments, particularly the FATF regulations. The paper adopts case studies methods to highlight various aspects of the financial frauds and crimes committed and later investigated jointly by Pakistan’s one of the federal law enforcement agencies, the Federal Investigation Agency, and Mobilink Microfinance Bank , Pakistan’s premier microfinance bank. It additionally enriches the data through expert interviews – with crime investigators and the experts to carry out an in-depth analysis of the various factors involving the crime. This paper emphasizes the structural and situational factors that shape up the cyber financial crimes in Pakistan vis-à-vis digital illiteracy and lack of awareness among the users of financial services. This paper, thus, on the basis of findings and expert interviews, suggests policy reforms to reduce the instances of the financial crimes, especially in the remotest areas of the country. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=financial%20crimes" title="financial crimes">financial crimes</a>, <a href="https://publications.waset.org/abstracts/search?q=cyber%20crimes" title=" cyber crimes"> cyber crimes</a>, <a href="https://publications.waset.org/abstracts/search?q=digital%20literacy" title=" digital literacy"> digital literacy</a>, <a href="https://publications.waset.org/abstracts/search?q=terrorism%20financing" title=" terrorism financing"> terrorism financing</a>, <a href="https://publications.waset.org/abstracts/search?q=banking%20sector" title=" banking sector"> banking sector</a> </p> <a href="https://publications.waset.org/abstracts/151513/an-investigation-of-cyber-financial-crimes-after-the-enactment-of-peca-a-case-study-of-pakistans-banking-sector-during-2016-to-2022" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/151513.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">88</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3058</span> A Modelling Analysis of Monetary Policy Rule</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Wael%20Bakhit">Wael Bakhit</a>, <a href="https://publications.waset.org/abstracts/search?q=Salma%20Bakhit"> Salma Bakhit</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper employs a quarterly time series to determine the timing of structural breaks for interest rates in USA over the last 60 years. The Chow test is used for investigating the non-stationary, where the date of the potential break is assumed to be known. Moreover, an empirical examination of the financial sector was made to check if it is positively related to deviations from an assumed interest rate as given in a standard Taylor rule. The empirical analysis is strengthened by analysing the rule from a historical perspective and a look at the effect of setting the interest rate by the central bank on financial imbalances. The empirical evidence indicates that deviation in monetary policy has a potential causal factor in the build-up of financial imbalances and the subsequent crisis where macro prudential intervention could have beneficial effect. Thus, our findings tend to support the view which states that the probable existence of central banks has been a source of global financial crisis since the past decade. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Taylor%20rule" title="Taylor rule">Taylor rule</a>, <a href="https://publications.waset.org/abstracts/search?q=financial%20imbalances" title=" financial imbalances"> financial imbalances</a>, <a href="https://publications.waset.org/abstracts/search?q=central%20banks" title=" central banks"> central banks</a>, <a href="https://publications.waset.org/abstracts/search?q=econometrics" title=" econometrics"> econometrics</a> </p> <a href="https://publications.waset.org/abstracts/8233/a-modelling-analysis-of-monetary-policy-rule" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/8233.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">389</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3057</span> Detecting Financial Bubbles Using Gap between Common Stocks and Preferred Stocks</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Changju%20Lee">Changju Lee</a>, <a href="https://publications.waset.org/abstracts/search?q=Seungmo%20Ku"> Seungmo Ku</a>, <a href="https://publications.waset.org/abstracts/search?q=Sondo%20Kim"> Sondo Kim</a>, <a href="https://publications.waset.org/abstracts/search?q=Woojin%20Chang"> Woojin Chang</a> </p> <p class="card-text"><strong>Abstract:</strong></p> How to detecting financial bubble? Addressing this simple question has been the focus of a vast amount of empirical research spanning almost half a century. However, financial bubble is hard to observe and varying over the time; there needs to be more research on this area. In this paper, we used abnormal difference between common stocks price and those preferred stocks price to explain financial bubble. First, we proposed the ‘W-index’ which indicates spread between common stocks and those preferred stocks in stock market. Second, to prove that this ‘W-index’ is valid for measuring financial bubble, we showed that there is an inverse relationship between this ‘W-index’ and S&P500 rate of return. Specifically, our hypothesis is that when ‘W-index’ is comparably higher than other periods, financial bubbles are added up in stock market and vice versa; according to our hypothesis, if investors made long term investments when ‘W-index’ is high, they would have negative rate of return; however, if investors made long term investments when ‘W-index’ is low, they would have positive rate of return. By comparing correlation values and adjusted R-squared values of between W-index and S&P500 return, VIX index and S&P500 return, and TED index and S&P500 return, we showed only W-index has significant relationship between S&P500 rate of return. In addition, we figured out how long investors should hold their investment position regard the effect of financial bubble. Using this W-index, investors could measure financial bubble in the market and invest with low risk. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=financial%20bubble%20detection" title="financial bubble detection">financial bubble detection</a>, <a href="https://publications.waset.org/abstracts/search?q=future%20return" title=" future return"> future return</a>, <a href="https://publications.waset.org/abstracts/search?q=forecasting" title=" forecasting"> forecasting</a>, <a href="https://publications.waset.org/abstracts/search?q=pairs%20trading" title=" pairs trading"> pairs trading</a>, <a href="https://publications.waset.org/abstracts/search?q=preferred%20stocks" title=" preferred stocks"> preferred stocks</a> </p> <a href="https://publications.waset.org/abstracts/57248/detecting-financial-bubbles-using-gap-between-common-stocks-and-preferred-stocks" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/57248.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">368</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3056</span> Women’s Financial Literacy and Family Financial Fragility</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Pepur%20Sandra">Pepur Sandra</a>, <a href="https://publications.waset.org/abstracts/search?q=Bulog%20Ivana"> Bulog Ivana</a>, <a href="https://publications.waset.org/abstracts/search?q=Rimac%20Smiljani%C4%87%20Ana"> Rimac Smiljanić Ana</a> </p> <p class="card-text"><strong>Abstract:</strong></p> During the COVID-19 pandemic, stress and family financial fragility arose worldwide. Economic and health uncertainty created new pressure on the everyday life of families. The work from home, homeschooling, and care of other family members caused an increase in unpaid work and generated a new division of intrahousehold. As many times before, women have taken the higher burden. This paper analyzes family stress and finance during the COVID-19 pandemic. We propose that women's inclusion in paid and unpaid work and their financial literacy influence family finances. We build up our assumptions according to the two theories that explain intrahousehold family decision-making: traditional and barging models. The traditional model assumes that partners specialize in their roles in line with time availability. Consequently, partners less engaged in payable working activities will spend more time on domestic activities and vice versa. According to the bargaining model, each individual has their preferences, and the one with more household bargaining power, e.g., higher income, higher level of education, better employment, or higher financial knowledge, is likely to make family decisions and avoid unpaid work. Our results are based on an anonymous and voluntary survey of 869 valid responses from women older than 18 conducted in Croatia at the beginning of 2021. We found that families who experienced delays in settling current obligations before the pandemic were in a worse financial situation during the pandemic. However, all families reported problems settling current obligations during pandemic times regardless of their financial condition before the crisis. Women from families with financial issues reported higher levels of family and personal stress during the pandemic. Furthermore, we provide evidence that more women's unpaid work negatively affects the family's financial fragility during the pandemic. In addition, in families where women have better financial literacy and are more financially independent, families cope better with finance before and during pandemics. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=family%20financial%20fragility" title="family financial fragility">family financial fragility</a>, <a href="https://publications.waset.org/abstracts/search?q=stress" title=" stress"> stress</a>, <a href="https://publications.waset.org/abstracts/search?q=unpaid%20work" title=" unpaid work"> unpaid work</a>, <a href="https://publications.waset.org/abstracts/search?q=women%27s%20financial%20literacy" title=" women's financial literacy"> women's financial literacy</a> </p> <a href="https://publications.waset.org/abstracts/166186/womens-financial-literacy-and-family-financial-fragility" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/166186.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">77</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3055</span> Relationship between Independence Directors and Performance of Firms During Financial Crisis</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Gladie%20Lui">Gladie Lui</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The global credit crisis of 2008 aroused renewed interest in the effectiveness of corporate governance mechanisms to safeguard investor interests. In this paper, we measure the effect of the crisis from 2008 to 2009 on the stock performance of 976 Hong Kong-listed companies and examine its link to corporate governance mechanisms. It is evident that the crisis and the economic downturn affected different industries. Empirical results show that firms with an independent board and a high concentration of ownership and management ownership had lower abnormal stock returns, but a lower price volatility during the global financial crisis. These results highlight that no single corporate governance mechanism is fit for all types of financial crises and time frames. To strengthen investors’ confidence in the ability of companies to deal with such swift financial catastrophes, companies should enhance the dynamism and responsiveness of their governance mechanisms in times of turbulence. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=board%20of%20directors" title="board of directors">board of directors</a>, <a href="https://publications.waset.org/abstracts/search?q=capital%20market" title=" capital market"> capital market</a>, <a href="https://publications.waset.org/abstracts/search?q=corporate%20governance" title=" corporate governance"> corporate governance</a>, <a href="https://publications.waset.org/abstracts/search?q=financial%20crisis" title=" financial crisis"> financial crisis</a> </p> <a href="https://publications.waset.org/abstracts/28032/relationship-between-independence-directors-and-performance-of-firms-during-financial-crisis" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/28032.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">430</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3054</span> Clustering of Extremes in Financial Returns: A Comparison between Developed and Emerging Markets</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Sara%20Ali%20Alokley">Sara Ali Alokley</a>, <a href="https://publications.waset.org/abstracts/search?q=Mansour%20Saleh%20Albarrak"> Mansour Saleh Albarrak</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper investigates the dependency or clustering of extremes in the financial returns data by estimating the extremal index value θ∈[0,1]. The smaller the value of θ the more clustering we have. Here we apply the method of Ferro and Segers (2003) to estimate the extremal index for a range of threshold values. We compare the dependency structure of extremes in the developed and emerging markets. We use the financial returns of the stock market index in the developed markets of US, UK, France, Germany and Japan and the emerging markets of Brazil, Russia, India, China and Saudi Arabia. We expect that more clustering occurs in the emerging markets. This study will help to understand the dependency structure of the financial returns data. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=clustring" title="clustring">clustring</a>, <a href="https://publications.waset.org/abstracts/search?q=extremes" title=" extremes"> extremes</a>, <a href="https://publications.waset.org/abstracts/search?q=returns" title=" returns"> returns</a>, <a href="https://publications.waset.org/abstracts/search?q=dependency" title=" dependency"> dependency</a>, <a href="https://publications.waset.org/abstracts/search?q=extermal%20index" title=" extermal index"> extermal index</a> </p> <a href="https://publications.waset.org/abstracts/65436/clustering-of-extremes-in-financial-returns-a-comparison-between-developed-and-emerging-markets" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/65436.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">405</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3053</span> Virtual Team Performance: A Transactive Memory System Perspective </h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Belbaly%20Nassim">Belbaly Nassim</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Virtual teams (VT) initiatives, in which teams are geographically dispersed and communicate via modern computer-driven technologies, have attracted increasing attention from researchers and professionals. The growing need to examine how to balance and optimize VT is particularly important given the exposure experienced by companies when their employees encounter globalization and decentralization pressures to monitor VT performance. Hence, organization is regularly limited due to misalignment between the behavioral capabilities of the team’s dispersed competences and knowledge capabilities and how trust issues interplay and influence these VT dimensions and the effects of such exchanges. In fact, the future success of business depends on the extent to which VTs are managing efficiently their dispersed expertise, skills and knowledge to stimulate VT creativity. Transactive memory system (TMS) may enhance VT creativity using its three dimensons: knowledge specialization, credibility and knowledge coordination. TMS can be understood as a composition of both a structural component residing of individual knowledge and a set of communication processes among individuals. The individual knowledge is shared while being retrieved, applied and the learning is coordinated. TMS is driven by the central concept that the system is built on the distinction between internal and external memory encoding. A VT learns something new and catalogs it in memory for future retrieval and use. TMS uses the role of information technology to explain VT behaviors by offering VT members the possibility to encode, store, and retrieve information. TMS considers the members of a team as a processing system in which the location of expertise both enhances knowledge coordination and builds trust among members over time. We build on TMS dimensions to hypothesize the effects of specialization, coordination, and credibility on VT creativity. In fact, VTs consist of dispersed expertise, skills and knowledge that can positively enhance coordination and collaboration. Ultimately, this team composition may lead to recognition of both who has expertise and where that expertise is located; over time, the team composition may also build trust among VT members over time developing the ability to coordinate their knowledge which can stimulate creativity. We also assess the reciprocal relationship between TMS dimensions and VT creativity. We wish to use TMS to provide researchers with a theoretically driven model that is empirically validated through survey evidence. We propose that TMS provides a new way to enhance and balance VT creativity. This study also provides researchers insight into the use of TMS to influence positively VT creativity. In addition to our research contributions, we provide several managerial insights into how TMS components can be used to increase performance within dispersed VTs. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=virtual%20team%20creativity" title="virtual team creativity">virtual team creativity</a>, <a href="https://publications.waset.org/abstracts/search?q=transactive%20memory%20systems" title=" transactive memory systems"> transactive memory systems</a>, <a href="https://publications.waset.org/abstracts/search?q=specialization" title=" specialization"> specialization</a>, <a href="https://publications.waset.org/abstracts/search?q=credibility" title=" credibility"> credibility</a>, <a href="https://publications.waset.org/abstracts/search?q=coordination" title=" coordination"> coordination</a> </p> <a href="https://publications.waset.org/abstracts/100953/virtual-team-performance-a-transactive-memory-system-perspective" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/100953.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">173</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3052</span> Application First and Second Digits Number in the Benford Law</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Teguh%20Sugiarto">Teguh Sugiarto</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Background: This study aims to explore the fraud that occurred in the financial statements using the Benford distribution law of 1st and 2nd case study of PT AKR Corporindo Tbk. Research Methods: In this study the authors use the first digit of the analysis and the analysis of the second digit of Bedford’s law. Having obtained the results of the analysis of the first and second digits, authors will make the difference between implementations using the scale above and below 5%. The number that has the level of difference in the range of 5% above or below, then a financial report in may, to analyse in the followup to the direction of the audit investigation, and authors assume happens a confusion in the financial statements. Findings: From research done, we found that there was a difference in the results of the appearance of the first digit of the number with the proper use of Benford's law, according to PT AKR Corporindo financial reports Tbk for the fiscal year 2006-2010, above and below the level the difference in set 5%. Conclusions: From the research that has been done, it can be concluded that on PT AKR Corporindo financial report 2006, 2007, 2008, 2009 and 2010, there is a level difference of appearance of numbers according to Benford's law is significant, as presented in the table analysis. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Benford%20law" title="Benford law">Benford law</a>, <a href="https://publications.waset.org/abstracts/search?q=first%20digits" title=" first digits"> first digits</a>, <a href="https://publications.waset.org/abstracts/search?q=second%20digits" title=" second digits"> second digits</a>, <a href="https://publications.waset.org/abstracts/search?q=Indonesian%20company" title=" Indonesian company"> Indonesian company</a> </p> <a href="https://publications.waset.org/abstracts/50147/application-first-and-second-digits-number-in-the-benford-law" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/50147.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">427</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3051</span> The Effect of Environmental, Social, and Governance (ESG) Ratings on Financial Performance: Evidence from MENA Countries</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Taha%20Almarayhe">Taha Almarayhe</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This study addresses the gap in understanding the effect of environmental, social, and governance (ESG) practices on firm performance within the Middle East and North Africa (MENA) region. Using a sample of 340 publicly traded firms across ten MENA countries (2007–2017) and employing ordinary least squares (OLS) regression, the study evaluates how ESG ratings impact both accounting-based performance measures—such as return on assets (ROA), return on equity (ROE), and earnings per share (EPS)—and market-based measures like Tobin’s Q and dividend yield. Results reveal that ESG ratings positively and significantly influence financial performance, particularly in countries with strong regulatory environments. This research contributes empirical insights to the literature on ESG’s financial impact, particularly by comparing cross-country data within the MENA region. It provides valuable guidance for investors and managers aiming to enhance financial outcomes through sustainable business practices. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=ESG%20ratings" title="ESG ratings">ESG ratings</a>, <a href="https://publications.waset.org/abstracts/search?q=financial%20performance" title=" financial performance"> financial performance</a>, <a href="https://publications.waset.org/abstracts/search?q=MENA%20countries" title=" MENA countries"> MENA countries</a>, <a href="https://publications.waset.org/abstracts/search?q=environmental%20disclosures" title=" environmental disclosures"> environmental disclosures</a> </p> <a href="https://publications.waset.org/abstracts/194370/the-effect-of-environmental-social-and-governance-esg-ratings-on-financial-performance-evidence-from-mena-countries" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/194370.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">10</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3050</span> Local Gambling Attitudes, Corporate R&D Investment and Long-Term Financial Performance</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Hong%20Fan">Hong Fan</a>, <a href="https://publications.waset.org/abstracts/search?q=Lifang%20Gao"> Lifang Gao</a>, <a href="https://publications.waset.org/abstracts/search?q=Feng%20Zhan"> Feng Zhan</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper examines the influence of local gambling attitudes on a firm's long-term financial performance. Firms located in gambling-prone regions may be more willing to take risks, thus spending more on innovative projects. However, firms in such regions may also be likely to choose projects impulsively and allocate resources inefficiently. By studying Chinese publicly listed firms from 2010 to 2017, we find that firms in more gambling-prone regions invest more in R&D. Both local gambling attitudes and firms’ R&D spending are positively associated with firms’ long-term financial performance. More importantly, our study reveals that the positive impact of R&D spending on firms’ long-term financial performance is weakened by gambling-friendly attitudes, probably because firms in gambling-prone regions are more likely to overinvest in risky projects. This effect is stronger for larger firms, state-owned enterprises (SOEs), firms with more government subsidies, and firms with weaker internal control. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=regional%20gambling%20attitudes" title="regional gambling attitudes">regional gambling attitudes</a>, <a href="https://publications.waset.org/abstracts/search?q=long-term%20financial%20performance" title=" long-term financial performance"> long-term financial performance</a>, <a href="https://publications.waset.org/abstracts/search?q=R%26D" title=" R&D"> R&D</a>, <a href="https://publications.waset.org/abstracts/search?q=risk" title=" risk"> risk</a>, <a href="https://publications.waset.org/abstracts/search?q=local%20bias" title=" local bias"> local bias</a> </p> <a href="https://publications.waset.org/abstracts/150302/local-gambling-attitudes-corporate-rd-investment-and-long-term-financial-performance" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/150302.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">114</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3049</span> The Analysis of Regulation on Sustainability in the Financial Sector in Lithuania</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Dalia%20Kubili%C5%ABt%C4%97">Dalia Kubiliūtė</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Lithuania is known as a trusted location for global business institutions, and it attracts investors with it’s competitive environment for financial service providers. Along with the aspiration to offer a strong results-oriented and innovations-driven environment for financial service providers, Lithuanian regulatory authorities consistently implement the European Union's high regulatory standards for financial activities, including sustainability-related disclosures. Since European Union directed its policy towards transition to a climate-neutral, green, competitive, and inclusive economy, additional regulatory requirements for financial market participants are adopted: disclosure of sustainable activities, transparency, prevention of greenwashing, etc. The financial sector is one of the key factors influencing the implementation of sustainability objectives in European Union policies and mitigating the negative effects of climate change –public funds are not enough to make a significant impact on sustainable investments, therefore directing public and private capital to green projects may help to finance the necessary changes. The topic of the study is original and has not yet been widely analyzed in Lithuanian legal discourse. There are used quantitative and qualitative methodologies, logical, systematic, and critical analysis principles; hence the aim of this study is to reveal the problem of the implementation of the regulation on sustainability in the Lithuanian financial sector. Additional regulatory requirements could cause serious changes in financial business operations: additional funds, employees, and time have to be dedicated in order for the companies could implement these regulations. Lack of knowledge and data on how to implement new regulatory requirements towards sustainable reporting causes a lot of uncertainty for financial market participants. And for some companies, it might even be an essential point in terms of business continuity. It is considered that the supervisory authorities should find a balance between financial market needs and legal regulation. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=financial" title="financial">financial</a>, <a href="https://publications.waset.org/abstracts/search?q=legal" title=" legal"> legal</a>, <a href="https://publications.waset.org/abstracts/search?q=regulatory" title=" regulatory"> regulatory</a>, <a href="https://publications.waset.org/abstracts/search?q=sustainability" title=" sustainability"> sustainability</a> </p> <a href="https://publications.waset.org/abstracts/161139/the-analysis-of-regulation-on-sustainability-in-the-financial-sector-in-lithuania" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/161139.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">102</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3048</span> The role of Financial Development and Institutional Quality in Promoting Sustainable Development through Tourism Management</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Hashim%20Zameer">Hashim Zameer</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Effective tourism management plays a vital role in promoting sustainability and supporting ecosystems. A common principle that has been in practice over the years is “first pollute and then clean,” indicating countries need financial resources to promote sustainability. Financial development and the tourism management both seems very important to promoting sustainable development. However, without institutional support, it is very difficult to succeed. In this context, it seems prominently significant to explore how institutional quality, tourism development, and financial development could promote sustainable development. In the past, no research explored the role of tourism development in sustainable development. Moreover, the role of financial development, natural resources, and institutional quality in sustainable development is also ignored. In this regard, this paper aims to investigate the role of tourism development, natural resources, financial development, and institutional quality in sustainable development in China. The study used time-series data from 2000–2021 and employed the Bayesian linear regression model because it is suitable for small data sets. The robustness of the findings was checked using a quantile regression approach. The results reveal that an increase in tourism expenditures stimulates the economy, creates jobs, encourages cultural exchange, and supports sustainability initiatives. Moreover, financial development and institution quality have a positive effect on sustainable development. However, reliance on natural resources can result in negative economic, social, and environmental outcomes, highlighting the need for resource diversification and management to reinforce sustainable development. These results highlight the significance of financial development, strong institutions, sustainable tourism, and careful utilization of natural resources for long-term sustainability. The study holds vital insights for policy formulation to promote sustainable tourism. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=sustainability" title="sustainability">sustainability</a>, <a href="https://publications.waset.org/abstracts/search?q=tourism%20development" title=" tourism development"> tourism development</a>, <a href="https://publications.waset.org/abstracts/search?q=financial%20development" title=" financial development"> financial development</a>, <a href="https://publications.waset.org/abstracts/search?q=institutional%20quality" title=" institutional quality"> institutional quality</a> </p> <a href="https://publications.waset.org/abstracts/172572/the-role-of-financial-development-and-institutional-quality-in-promoting-sustainable-development-through-tourism-management" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/172572.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">83</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3047</span> Three-Dimensional Model of Leisure Activities: Activity, Relationship, and Expertise</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Taekyun%20Hur">Taekyun Hur</a>, <a href="https://publications.waset.org/abstracts/search?q=Yoonyoung%20Kim"> Yoonyoung Kim</a>, <a href="https://publications.waset.org/abstracts/search?q=Junkyu%20Lim"> Junkyu Lim</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Previous works on leisure activities had been categorizing activities arbitrarily and subjectively while focusing on a single dimension (e.g. active-passive, individual-group). To overcome these problems, this study proposed a Korean leisure activities’ matrix model that considered multidimensional features of leisure activities, which was comprised of 3 main factors and 6 sub factors: (a) Active (physical, mental), (b) Relational (quantity, quality), (c) Expert (entry barrier, possibility of improving). We developed items for measuring the degree of each dimension for every leisure activity. Using the developed Leisure Activities Dimensions (LAD) questionnaire, we investigated the presented dimensions of a total of 78 leisure activities which had been enjoyed by most Koreans recently (e.g. watching movie, taking a walk, watching media). The study sample consisted of 1348 people (726 men, 658 women) ranging in age from teenagers to elderlies in their seventies. This study gathered 60 data for each leisure activity, a total of 4860 data, which were used for statistical analysis. First, this study compared 3-factor model (Activity, Relation, Expertise) fit with 6-factor model (physical activity, mental activity, relational quantity, relational quality, entry barrier, possibility of improving) fit by using confirmatory factor analysis. Based on several goodness-of-fit indicators, the 6-factor model for leisure activities was a better fit for the data. This result indicates that it is adequate to take account of enough dimensions of leisure activities (6-dimensions in our study) to specifically apprehend each leisure attributes. In addition, the 78 leisure activities were cluster-analyzed with the scores calculated based on the 6-factor model, which resulted in 8 leisure activity groups. Cluster 1 (e.g. group sports, group musical activity) and Cluster 5 (e.g. individual sports) had generally higher scores on all dimensions than others, but Cluster 5 had lower relational quantity than Cluster 1. In contrast, Cluster 3 (e.g. SNS, shopping) and Cluster 6 (e.g. playing a lottery, taking a nap) had low scores on a whole, though Cluster 3 showed medium levels of relational quantity and quality. Cluster 2 (e.g. machine operating, handwork/invention) required high expertise and mental activity, but low physical activity. Cluster 4 indicated high mental activity and relational quantity despite low expertise. Cluster 7 (e.g. tour, joining festival) required not only moderate degrees of physical activity and relation, but low expertise. Lastly, Cluster 8 (e.g. meditation, information searching) had the appearance of high mental activity. Even though clusters of our study had a few similarities with preexisting taxonomy of leisure activities, there was clear distinctiveness between them. Unlike the preexisting taxonomy that had been created subjectively, we assorted 78 leisure activities based on objective figures of 6-dimensions. We also could identify that some leisure activities, which used to belong to the same leisure group, were included in different clusters (e.g. filed ball sports, net sports) because of different features. In other words, the results can provide a different perspective on leisure activities research and be helpful for figuring out what various characteristics leisure participants have. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=leisure" title="leisure">leisure</a>, <a href="https://publications.waset.org/abstracts/search?q=dimensional%20model" title=" dimensional model"> dimensional model</a>, <a href="https://publications.waset.org/abstracts/search?q=activity" title=" activity"> activity</a>, <a href="https://publications.waset.org/abstracts/search?q=relationship" title=" relationship"> relationship</a>, <a href="https://publications.waset.org/abstracts/search?q=expertise" title=" expertise"> expertise</a> </p> <a href="https://publications.waset.org/abstracts/69098/three-dimensional-model-of-leisure-activities-activity-relationship-and-expertise" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/69098.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">311</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3046</span> Profit and Nonprofit Sports Clubs, Financial and Organizational Comparison in Poland</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Igor%20Perechuda">Igor Perechuda</a>, <a href="https://publications.waset.org/abstracts/search?q=Wojciech%20Cie%C5%9Bli%C5%84ski"> Wojciech Cieśliński</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The paper identifies the features of Polish sports clubs in the particular organizational forms: profit and nonprofit. Identification and description of these features is carried out in terms of financial efficiency of the given organizational form. Under the terms of the efficiency the research allows you to specify the advantages of particular organizational sports club form and the following limitations. Paper considers features of sports clubs in range of Polish conditions as legal regulations. The sources of the functioning efficiency of sports clubs may lie in the organizational forms in which they operate. Each of the available forms can be considered either a for-profit or nonprofit enterprise. Depending on this classification there are different capabilities of increasing organizational and financial efficiency of a given sports club. Authors start with general classification and difference between for-profit and non-profit sport clubs. Next identifies specific financial and organizational conditions of both organizational form and then show examples of mixed activity forms and their efficiency effect. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=financial%20efficiency" title="financial efficiency">financial efficiency</a>, <a href="https://publications.waset.org/abstracts/search?q=for-profit" title=" for-profit"> for-profit</a>, <a href="https://publications.waset.org/abstracts/search?q=non-profit" title=" non-profit"> non-profit</a>, <a href="https://publications.waset.org/abstracts/search?q=sports%20club" title=" sports club"> sports club</a> </p> <a href="https://publications.waset.org/abstracts/29223/profit-and-nonprofit-sports-clubs-financial-and-organizational-comparison-in-poland" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/29223.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">547</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3045</span> Karachi Electric Power Technical and Financial Performance Evaluation after Privatization</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Fawad%20Azeem">Fawad Azeem</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper deals with the comparative analysis of Karachi Electric before and after privatization. Technical as well as financial analysis has been done based on the available KE’s stats for last decade. Karachi Electric has evolved as a better entity in terms of its financial and technical achievements. On the other hand, human resources have been seriously affected due to mass firing of employees from the organizations. Study and analysis show that transparent and unbiased privatization practices on institutions like KE that were in serious trouble can upsurge the standards of the institution. Further, for the betterment of the social circle privatization must not affect the employment opportunities. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Karachi%20Electric" title="Karachi Electric">Karachi Electric</a>, <a href="https://publications.waset.org/abstracts/search?q=power" title=" power"> power</a>, <a href="https://publications.waset.org/abstracts/search?q=energy" title=" energy"> energy</a>, <a href="https://publications.waset.org/abstracts/search?q=privatization" title=" privatization"> privatization</a> </p> <a href="https://publications.waset.org/abstracts/63939/karachi-electric-power-technical-and-financial-performance-evaluation-after-privatization" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/63939.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">353</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3044</span> Brexit: Implications on Banking Regulations and Conditions; An Analysis</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Astha%20Sinha">Astha Sinha</a>, <a href="https://publications.waset.org/abstracts/search?q=Anjali%20Kanagali"> Anjali Kanagali</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The United Kingdom’s withdrawal from the European Union, also termed as “Brexit,” took place on June 23, 2016 and immediately had global repercussions on the stock markets of the world. It is however expected to have a greater impact on the Banking sector in the UK. There is a two-fold effect on the earnings of banks which is being expected. First is of the trading activity and investment banking businesses being hit due to global weakness in financial markets. Second is that the banks having a large presence in the European Union will have to restructure their operations in order to cover other European countries as well increase their operating costs. As per the analysis, banks are expected to face rate cuts, bad loans, and tight liquidity. The directives in the Brexit negotiations on the Markets in Financial Instruments Directive (MiFID) will be a major decision to be taken for the Banking sector. New regulations will be required since most of the regulations governing the financial services industry allowing for the cross-border transactions were at the EU level. This paper aims to analyze the effect of Brexit on the UK Banking sector and changes in regulations that are expected due to the same. It shall also lay down the lessons learnt from the 2008 financial crisis and draw a parallel in terms of potential areas to be focused on for revival of the financial sector of Britain. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Brexit" title="Brexit">Brexit</a>, <a href="https://publications.waset.org/abstracts/search?q=Brexit%20impact%20on%20UK" title=" Brexit impact on UK"> Brexit impact on UK</a>, <a href="https://publications.waset.org/abstracts/search?q=impact%20of%20Brexit%20on%20banking" title=" impact of Brexit on banking"> impact of Brexit on banking</a>, <a href="https://publications.waset.org/abstracts/search?q=impact%20of%20Brexit%20on%20financial%20services" title=" impact of Brexit on financial services"> impact of Brexit on financial services</a> </p> <a href="https://publications.waset.org/abstracts/54712/brexit-implications-on-banking-regulations-and-conditions-an-analysis" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/54712.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">408</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3043</span> Assessing Factors That Constitute Talent in the Islamic Financial Institutions among Bank Officers</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Zairani%20Zainol">Zairani Zainol</a>, <a href="https://publications.waset.org/abstracts/search?q=Zulkiflee%20Daud"> Zulkiflee Daud</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This study employed 86 respondents representing bank officers of Bank XYX (one of the full-fledged Islamic banks in Malaysia) in the northern region of Malaysia to assess the factors that constitute talent in the Islamic financial industries. To test the discriminant factors for talent among bank officers, a factor analysis was performed. The KMO, Bartlett and MSA tests were executed as the prerequisite before performing the factor analysis. The discriminant factors for talent were extracted via eigenvalues and rotated component matrixes. The results show that five factors, namely (1) self-motivation, (2) leadership, (3) teamwork, (4) interpersonal skills, and (5) creativity/innovation constitute talent in the Islamic financial industries. It is hoped that this study could offer guidelines to education providers, specifically those that conduct the Islamic finance and banking program, as to the areas of emphasis for students before graduating. For the Islamic financial institutions, this study is also vital since they could tackle the areas that need to be improved in managing their talents. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=talent" title="talent">talent</a>, <a href="https://publications.waset.org/abstracts/search?q=Islamic%20financial%20industries" title=" Islamic financial industries"> Islamic financial industries</a>, <a href="https://publications.waset.org/abstracts/search?q=talent%20development" title=" talent development"> talent development</a>, <a href="https://publications.waset.org/abstracts/search?q=bank%E2%80%99s%20officers" title=" bank’s officers"> bank’s officers</a> </p> <a href="https://publications.waset.org/abstracts/33701/assessing-factors-that-constitute-talent-in-the-islamic-financial-institutions-among-bank-officers" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/33701.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">402</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3042</span> Exchange Traded Products on the Warsaw Stock Exchange</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Piotr%20Prewysz-Kwinto">Piotr Prewysz-Kwinto</a> </p> <p class="card-text"><strong>Abstract:</strong></p> A dynamic development of financial market is accompanied by the emergence of new products on stock exchanges which give absolutely new possibilities of investing money. Currently, the most innovative financial instruments offered to investors are exchange traded products (ETP). They can be defined as financial instruments whose price depends on the value of the underlying instrument. Thus, they offer investors a possibility of making a profit that results from the change in value of the underlying instrument without having to buy it. Currently, the Warsaw Stock Exchange offers many types of ETPs. They are investment products with full or partial capital protection, products without capital protection as well as leverage products, issued on such underlying instruments as indices, sector indices, commodity indices, prices of energy commodities, precious metals, agricultural produce or prices of shares of domestic and foreign companies. This paper presents the mechanism of functioning of ETP available on the Warsaw Stock Exchange and the results of the analysis of statistical data on these financial instruments. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=exchange%20traded%20products" title="exchange traded products">exchange traded products</a>, <a href="https://publications.waset.org/abstracts/search?q=financial%20market" title=" financial market"> financial market</a>, <a href="https://publications.waset.org/abstracts/search?q=investment" title=" investment"> investment</a>, <a href="https://publications.waset.org/abstracts/search?q=stock%20exchange" title=" stock exchange"> stock exchange</a> </p> <a href="https://publications.waset.org/abstracts/51796/exchange-traded-products-on-the-warsaw-stock-exchange" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/51796.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">347</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3041</span> Financial Fraud Prediction for Russian Non-Public Firms Using Relational Data</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Natalia%20Feruleva">Natalia Feruleva</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The goal of this paper is to develop the fraud risk assessment model basing on both relational and financial data and test the impact of the relationships between Russian non-public companies on the likelihood of financial fraud commitment. Relationships mean various linkages between companies such as parent-subsidiary relationship and person-related relationships. These linkages may provide additional opportunities for committing fraud. Person-related relationships appear when firms share a director, or the director owns another firm. The number of companies belongs to CEO and managed by CEO, the number of subsidiaries was calculated to measure the relationships. Moreover, the dummy variable describing the existence of parent company was also included in model. Control variables such as financial leverage and return on assets were also implemented because they describe the motivating factors of fraud. To check the hypotheses about the influence of the chosen parameters on the likelihood of financial fraud, information about person-related relationships between companies, existence of parent company and subsidiaries, profitability and the level of debt was collected. The resulting sample consists of 160 Russian non-public firms. The sample includes 80 fraudsters and 80 non-fraudsters operating in 2006-2017. The dependent variable is dichotomous, and it takes the value 1 if the firm is engaged in financial crime, otherwise 0. Employing probit model, it was revealed that the number of companies which belong to CEO of the firm or managed by CEO has significant impact on the likelihood of financial fraud. The results obtained indicate that the more companies are affiliated with the CEO, the higher the likelihood that the company will be involved in financial crime. The forecast accuracy of the model is about is 80%. Thus, the model basing on both relational and financial data gives high level of forecast accuracy. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=financial%20fraud" title="financial fraud">financial fraud</a>, <a href="https://publications.waset.org/abstracts/search?q=fraud%20prediction" title=" fraud prediction"> fraud prediction</a>, <a href="https://publications.waset.org/abstracts/search?q=non-public%20companies" title=" non-public companies"> non-public companies</a>, <a href="https://publications.waset.org/abstracts/search?q=regression%20analysis" title=" regression analysis"> regression analysis</a>, <a href="https://publications.waset.org/abstracts/search?q=relational%20data" title=" relational data"> relational data</a> </p> <a href="https://publications.waset.org/abstracts/112446/financial-fraud-prediction-for-russian-non-public-firms-using-relational-data" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/112446.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">119</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3040</span> Digitalization, Economic Growth and Financial Sector Development in Africa</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Abdul%20Ganiyu%20Iddrisu">Abdul Ganiyu Iddrisu</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Digitization is the process of transforming analog material into digital form, especially for storage and use in a computer. Significant development of information and communication technology (ICT) over the past years has encouraged many researchers to investigate its contribution to promoting economic growth, and reducing poverty. Yet compelling empirical evidence on the effects of digitization on economic growth remains weak, particularly in Africa. This is because extant studies that explicitly evaluate digitization and economic growth nexus are mostly reports and desk reviews. This points out an empirical knowledge gap in the literature. Hypothetically, digitization influences financial sector development which in turn influences economic growth. Digitization has changed the financial sector and its operating environment. Obstacles to access to financing, for instance, physical distance, minimum balance requirements, low-income flows among others can be circumvented. Savings have increased, micro-savers have opened bank accounts, and banks are now able to price short-term loans. This has the potential to develop the financial sector, however, empirical evidence on digitization-financial development nexus is dearth. On the other hand, a number of studies maintained that financial sector development greatly influences growth of economies. We therefore argue that financial sector development is one of the transmission mechanisms through which digitization affects economic growth. Employing macro-country-level data from African countries and using fixed effects, random effects and Hausman-Taylor estimation approaches, this paper contributes to the literature by analysing economic growth in Africa focusing on the role of digitization, and financial sector development. First, we assess how digitization influence financial sector development in Africa. From an economic policy perspective, it is important to identify digitization determinants of financial sector development so that action can be taken to reduce the economic shocks associated with financial sector distortions. This nexus is rarely examined empirically in the literature. Secondly, we examine the effect of domestic credit to private sector and stock market capitalization as a percentage of GDP as used to proxy for financial sector development on 2 economic growth. Digitization is represented by the volume of digital/ICT equipment imported and GDP growth is used to proxy economic growth. Finally, we examine the effect of digitization on economic growth in the light of financial sector development. The following key results were found; first, digitalization propels financial sector development in Africa. Second, financial sector development enhances economic growth. Finally, contrary to our expectation, the results also indicate that digitalization conditioned on financial sector development tends to reduce economic growth in Africa. However, results of the net effects suggest that digitalization, overall, improves economic growth in Africa. We, therefore, conclude that, digitalization in Africa does not only develop the financial sector but unconditionally contributes the growth of the continent’s economies. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=digitalization" title="digitalization">digitalization</a>, <a href="https://publications.waset.org/abstracts/search?q=economic%20growth" title=" economic growth"> economic growth</a>, <a href="https://publications.waset.org/abstracts/search?q=financial%20sector%20development" title=" financial sector development"> financial sector development</a>, <a href="https://publications.waset.org/abstracts/search?q=Africa" title=" Africa"> Africa</a> </p> <a href="https://publications.waset.org/abstracts/158028/digitalization-economic-growth-and-financial-sector-development-in-africa" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/158028.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">103</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3039</span> The Conditionality of Financial Risk: A Comparative Analysis of High-Tech and Utility Companies Listed on the Shenzhen Stock Exchange (SSE)</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Joseph%20Paul%20Chunga">Joseph Paul Chunga</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The investment universe is awash with a myriad of financial choices that investors have to opt for, which principally culminates into a duality between aggressive or conservative approaches. Howbeit, it is pertinent to emphasize that the investment vehicles with an aggressive approach tend to take on more risk than the latter group in an effort to generate higher future returns for their respective investors. This study examines the conditionality effect that such partiality in financing has on the High-Tech and Public Utility companies listed on the Shenzhen Stock Exchange (SSE). Specifically, it examines the significance of the relationship between capitalization ratios of Total Debt Ratio (TDR), Degree of Financial Leverage (DFL) and profitability ratios of Earnings per Share (EPS) and Returns on Equity (ROE) on the Financial Risk of the two industries. We employ a modified version of the Panel Regression Model used by Rahman (2017) to estimate the relationship. The study finds that there is a significant positive relationship between the capitalization ratios on the financial risk of Public Utility companies more than High-Tech companies and a substantial negative relationship between the profitability ratios and the financial risk of the former than the latter companies. This then spells an important insight for prospective investors with regards to the volatility of earnings of such companies. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=financial%20leverage" title="financial leverage">financial leverage</a>, <a href="https://publications.waset.org/abstracts/search?q=debt%20financing" title=" debt financing"> debt financing</a>, <a href="https://publications.waset.org/abstracts/search?q=conservative%20firms" title=" conservative firms"> conservative firms</a>, <a href="https://publications.waset.org/abstracts/search?q=aggressive%20firms" title=" aggressive firms"> aggressive firms</a> </p> <a href="https://publications.waset.org/abstracts/141463/the-conditionality-of-financial-risk-a-comparative-analysis-of-high-tech-and-utility-companies-listed-on-the-shenzhen-stock-exchange-sse" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/141463.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">185</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3038</span> The Importance of Knowledge Innovation for External Audit on Anti-Corruption</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Adel%20M.%20Qatawneh">Adel M. Qatawneh</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper aimed to determine the importance of knowledge innovation for external audit on anti-corruption in the entire Jordanian bank companies are listed in Amman Stock Exchange (ASE). The study importance arises from the need to recognize the Knowledge innovation for external audit and anti-corruption as the development in the world of business, the variables that will be affected by external audit innovation are: reliability of financial data, relevantly of financial data, consistency of the financial data, Full disclosure of financial data and protecting the rights of investors to achieve the objectives of the study a questionnaire was designed and distributed to the society of the Jordanian bank are listed in Amman Stock Exchange. The data analysis found out that the banks in Jordan have a positive importance of Knowledge innovation for external audit on anti-corruption. They agree on the benefit of Knowledge innovation for external audit on anti-corruption. The statistical analysis showed that Knowledge innovation for external audit had a positive impact on the anti-corruption and that external audit has a significantly statistical relationship with anti-corruption, reliability of financial data, consistency of the financial data, a full disclosure of financial data and protecting the rights of investors. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=knowledge%20innovation" title="knowledge innovation">knowledge innovation</a>, <a href="https://publications.waset.org/abstracts/search?q=external%20audit" title=" external audit"> external audit</a>, <a href="https://publications.waset.org/abstracts/search?q=anti-corruption" title=" anti-corruption"> anti-corruption</a>, <a href="https://publications.waset.org/abstracts/search?q=Amman%20Stock%20Exchange" title=" Amman Stock Exchange"> Amman Stock Exchange</a> </p> <a href="https://publications.waset.org/abstracts/24091/the-importance-of-knowledge-innovation-for-external-audit-on-anti-corruption" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/24091.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">465</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3037</span> An International Comparison of Global Financial Centers: Major Competitive Strategies</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=I.%20Hakki%20Eraslan">I. Hakki Eraslan</a>, <a href="https://publications.waset.org/abstracts/search?q=Birol%20Ozturk"> Birol Ozturk</a>, <a href="https://publications.waset.org/abstracts/search?q=Istemi%20Comlekci"> Istemi Comlekci</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper begins by defining what is meant by globalization in finance and by identifying the sources of value-added in the internationally-competitive financial services sector origination, trading and distribution of debt and equity capital market instruments and their derivatives, foreign exchange trading and securities brokerage, management of market risk and credit risk, loan syndication and structured bank financings, corporate finance and advisory services, and asset management. These activities are considered in terms of a value-chain one that ultimately gives rise to the real economic gains attributable to financial-center operations. The research presents available evidence as to where the relevant value-added activities usually take place. It then examines the centrifugal and centripetal forces that determine the concentration or dispersal of value-added activity in financial intermediation, both interregionally and internationally. Next, the research assesses the factors, which appear to underlie the locational pattern of international financial centers that has evolved. In preparing this paper, also it is examined the current position and the main opportunities and challenges facing world major financial services sector, and attempted to lay out a potential vision and strategies. It is conducted extensive research, including many internal research materials and publications. It is also engaged closely with the academia, industry practitioners and regulators, and consulted market experts from major world financial centers. More than 60 in‐depth consultative sessions were conducted in the past two years which provided insightful suggestions and innovative ideas on how to further financial industry’s position as an international financial centre. The paper concludes with the outlook for the future pattern of financial centers in the global competitive environment. The ideas and advice gathered are condensed into this paper that recommends to the strategic decision leaders a vision and a strategy for financial services sector to move forward amid a highly competitive environment. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=financial%20centers" title="financial centers">financial centers</a>, <a href="https://publications.waset.org/abstracts/search?q=competitiveness" title=" competitiveness"> competitiveness</a>, <a href="https://publications.waset.org/abstracts/search?q=financial%20services%20industry" title=" financial services industry"> financial services industry</a>, <a href="https://publications.waset.org/abstracts/search?q=economics" title=" economics"> economics</a> </p> <a href="https://publications.waset.org/abstracts/26526/an-international-comparison-of-global-financial-centers-major-competitive-strategies" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/26526.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">404</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3036</span> First Digit Lucas, Fibonacci and Benford Number in Financial Statement</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Teguh%20Sugiarto">Teguh Sugiarto</a>, <a href="https://publications.waset.org/abstracts/search?q=Amir%20Mohamadian%20Amiri"> Amir Mohamadian Amiri</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Background: This study aims to explore if there is fraud in the company's financial report distribution using the number first digit Lucas, Fibonacci and Benford. Research methods: In this study, the author uses a number model contained in the first digit of the model Lucas, Fibonacci and Benford, to make a distinction between implementation by using the scale above and below 5%, the rate of occurrence of a difference against the digit number contained on Lucas, Fibonacci and Benford. If there is a significant difference above and below 5%, then the process of follow-up and detection of occurrence of fraud against the financial statements can be made. Findings: From research that has been done can be concluded that the number of frequency levels contained in the financial statements of PT Bank BRI Tbk in a year in the same conscientious results for model Lucas, Fibonacci and Benford. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Lucas" title="Lucas">Lucas</a>, <a href="https://publications.waset.org/abstracts/search?q=Fibonacci" title=" Fibonacci"> Fibonacci</a>, <a href="https://publications.waset.org/abstracts/search?q=Benford" title=" Benford"> Benford</a>, <a href="https://publications.waset.org/abstracts/search?q=first%20digit" title=" first digit"> first digit</a> </p> <a href="https://publications.waset.org/abstracts/53272/first-digit-lucas-fibonacci-and-benford-number-in-financial-statement" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/53272.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span 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