WorldWideScience

Sample records for financial services firms

  1. A Knowledge Management Model for Firms in the Financial Services Industry

    Science.gov (United States)

    Held, Carsten; Duncan, Glen; Yanamandram, Venkat

    2013-01-01

    The financial services industry faces many demanding challenges. Firms within this industry are predominantly knowledge-based, as are most of the industry's products, processes and services. The application of knowledge management represents a clear opportunity for financial services firms to confront challenges. However, no industry specific…

  2. A Knowledge Management Model for Firms in the Financial Services Industry

    Science.gov (United States)

    Held, Carsten; Duncan, Glen; Yanamandram, Venkat

    2013-01-01

    The financial services industry faces many demanding challenges. Firms within this industry are predominantly knowledge-based, as are most of the industry's products, processes and services. The application of knowledge management represents a clear opportunity for financial services firms to confront challenges. However, no industry specific…

  3. A Knowledge Management Model for Firms in the Financial Services Industry

    Science.gov (United States)

    Held, Carsten; Duncan, Glen; Yanamandram, Venkat

    2013-01-01

    The financial services industry faces many demanding challenges. Firms within this industry are predominantly knowledge-based, as are most of the industry's products, processes and services. The application of knowledge management represents a clear opportunity for financial services firms to confront challenges. However, no industry specific…

  4. Information technology adoption for service innovation practices and competitive advantage: the case of financial firms

    OpenAIRE

    J.S. Chen; H.T. Tsou

    2007-01-01

    Background. The importance of information technology to current business practices has long drawn the attention of practitioners and academicians. Aim. This paper aims to broaden understanding about service innovation as a critical organizational capability through which information technology adoption influences the competitive advantage of a firm. In the context of financial firms, this study examines how information technology is adopted and managed to enhance service innovation practices ...

  5. Investigating Strategic Renewal of Five Large Dutch Financial Services Firms

    NARCIS (Netherlands)

    B. Flier (Bert); F.A.J. van den Bosch (Frans); H.W. Volberda (Henk); C.W.F. Baden-Fuller (Charles)

    2004-01-01

    textabstractHow do large well-established firms renew themselves in an increasing turbulent environment? Is there a generic pattern of change or is each change journey rather idiosyncratic? We posed five questions about the nature of renewal patterns. First, how do firms combine external versus inte

  6. Offshoring by manufacturing and service firms in the Netherlands : Offshoring behavior in times of a financial crisis

    NARCIS (Netherlands)

    Gorp, van D.M.

    2010-01-01

    This report includes an overview of the research results regarding the offshore behavior of service and manufacturing firms. The underlying field study is conducted to provide an answer on to the following research question: What is the offshoring behavior of firms operating from The Netherlands? It

  7. HRM in professional service firms

    DEFF Research Database (Denmark)

    Jørgensen, Frances

    2012-01-01

    Professional service firms (PSFs) present HR professionals with a number of unique challenges, as they share characteristics of both service and knowledge intensive organizations. While many of these firms are relying on High Commitment Work Practices (HCWPs) to enhance critical employee behaviors...... such as service quality and turnover, the analysis presented in this paper raises questions about traditional understandings of commitment in professional service environments. In particular, data from three Danish financial investment PSFs suggest that employees are more committed to developing and promoting...... on employee commitment. In the context of PSFs, we question the applicability of social exchange theory and instead draw upon the Ability-Motivation-Opportunity (AMO) framework (1982) to analyze how specific HRM practices contribute to the development of commitment, and to successful organizational outcomes...

  8. Information Technology Adoption for Service Innovation Practices and Competitive Advantage: The Case of Financial Firms

    Science.gov (United States)

    Chen, J. S.; Tsou, H. T.

    2007-01-01

    Background: The importance of information technology to current business practices has long drawn the attention of practitioners and academicians. Aim: This paper aims to broaden understanding about service innovation as a critical organizational capability through which information technology adoption influences the competitive advantage of a…

  9. Financial Services and Emerging Markets

    NARCIS (Netherlands)

    B. Karreman (Bas)

    2011-01-01

    textabstractThis study addresses the organization and strategy of firms in emerging markets with an explicit application to financial services. Given the relevance of a well-functioning financial system for economic growth, understanding the organization and strategy of firms contributing to the dev

  10. Taxing the Financially Integrated Multinational Firm

    DEFF Research Database (Denmark)

    Johannesen, Niels

    This paper develops a theoretical model of corporate taxation in the presence of financially integrated multinational firms. Under the assumption that multinational firms at least partly use internal loans to finance foreign investment, we find that the optimal corporate tax rate is positive from...... the tension between standard theory predicting zero capital taxes and the casual observation that countries tend to employ corporate taxes at fairly high rates....

  11. The Internationalisation of Service Firms

    DEFF Research Database (Denmark)

    Blagoeva, Denitsa Hazarbassanova

    The question the thesis aims at resolving is: How do the value creation logics of firms impact their internationalisation? The overall aim of this PhD project is to explore and test an approach to understanding the internationalisation of service firms, based not on opposing them to manufacturing...

  12. Taxing the Financially Integrated Multinational Firm

    DEFF Research Database (Denmark)

    Johannesen, Niels

    This paper develops a theoretical model of corporate taxation in the presence of financially integrated multinational firms. Under the assumption that multinational firms at least partly use internal loans to finance foreign investment, we find that the optimal corporate tax rate is positive from...... the perspective of a small, open economy. This finding contrasts the standard result that the optimal source based capital tax is zero. Intuitively, to the extent that multinational firms finance investment in country i with loans from affiliates in country j, the burden of corporate taxes in the latter country...... partly fall on investment and thus workers in the former country. This tax exporting mechanism introduces a scope for corporate taxes, which is not present in standard models of international taxation. Accounting for the internal capital markets of multinational firms thus represents a way to resolve...

  13. The Internationalisation of Service Firms

    DEFF Research Database (Denmark)

    Blagoeva, Denitsa Hazarbassanova

    The question the thesis aims at resolving is: How do the value creation logics of firms impact their internationalisation? The overall aim of this PhD project is to explore and test an approach to understanding the internationalisation of service firms, based not on opposing them to manufacturing...... Monetary Fund, the World Bank and OECD, 2014). The attention to internationalisation of services has significantly increased and yet, many questions remain open (e.g. Pla-Barber and Ghauri, 2012).......The question the thesis aims at resolving is: How do the value creation logics of firms impact their internationalisation? The overall aim of this PhD project is to explore and test an approach to understanding the internationalisation of service firms, based not on opposing them to manufacturing...... ones, looking at descriptive service characteristics nor industry effects, but on the way they create value. Why and how are service firms different? and What are the drivers behind their internationalisation? are the questions motivating this PhD project. It explores if the value creation...

  14. A Theory of Financial Services Competition, Compliance and Regulation

    OpenAIRE

    Michael, Bryane; Falzon, Joseph; Shamdasani, Ajay

    2015-01-01

    Do financial regulation advisors help their clients become more profitable? In this paper, we present a model where financial service firms may add to their own compliance teams or hire outside compliance advisors. We derive the conditions under which a financial services firm will want to hire a compliance services company, and show how much money they should spend. Financial services firms in competitive locations like Hong Kong and Singapore will particularly benefit (at least in the short...

  15. Competition and Profitability in European Financial Services

    DEFF Research Database (Denmark)

    Balling, Morten; Lierman, F.; Mullineux, A.

    Financial services firms play a key role in the European economy. The efficiency and profitability of these firms and the competition among them have an impact on allocation of savings, financing of investment, economic growth, the stability of the financial system and the transmission of monetary...... policy. This collection of research contributions includes evaluations of trends in the European financial service industry and examinations of the driving forces of efficiency, competition and profitability of financial firms and institutions in Europe. The papers have been written by leading academics...

  16. Balancing organizational and professional commitments in Professional Service Firm

    DEFF Research Database (Denmark)

    Jørgensen, Frances; Becker, Karen

    2015-01-01

    financial investment firms. Our findings suggest that in professional service firms, HR practices encourage high levels of organizational commitment primarily and most often through their influence on professional commitment and that HR practices related to flexible work design are essential in creating...

  17. Financial centers and firm performance during the crisis period

    DEFF Research Database (Denmark)

    Farooq, Omar; El Ouadrhiri, Khadija

    2014-01-01

    firms. Our arguments claim that better information environment of firms headquartered in the financial centers helps in maintaining investors’ confidence during uncertain times. We also show that controlling for other corporate governance mechanisms (analyst following, ownership concentration, auditors......How does location of a firm’s headquarter impact its performance during the crisis period? This paper answers this question by using the data from India. Our results show that firms headquartered in Mumbai, the main financial center of the country, significantly outperform other firms during...... the recent global financial crisis. We argue that firms headquartered in the financial center have better information environment than other firms. One of the channels via which improvement in information environment takes place is the clustering of firms in the financial center. We believe that, for any...

  18. Predicting Firms' Financial Failure Using Financial Ratios:an Empirical Studies of Chinese Firms

    Institute of Scientific and Technical Information of China (English)

    GU Xiao-min

    2004-01-01

    The stock market has played an important role in today's China economy. Due to the fact that a number of the listed companies did not generate the return that the investors expected, the research on the causes of financial failure and predicting such financial failure becomes very important for future capital market development. The paper selected 43 ST(Special Treat) and 43 Non-ST companies as sample, using financial ratio and the factor analysis model to compare and analyse. This study especially analyses profitability, operation efficiency and development ability of firms and focuses on the design of an early warning system for possible financial failure of the listed companies by using factor analysis.

  19. Competition and Profitability in European Financial Services

    DEFF Research Database (Denmark)

    Balling, Morten; Lierman, F.; Mullineux, A.

    Financial services firms play a key role in the European economy. The efficiency and profitability of these firms and the competition among them have an impact on allocation of savings, financing of investment, economic growth, the stability of the financial system and the transmission of monetary...... policy. This collection of research contributions includes evaluations of trends in the European financial service industry and examinations of the driving forces of efficiency, competition and profitability of financial firms and institutions in Europe. The papers have been written by leading academics...... and researchers in the field, who specialize in strategic, systematic and policy issues related to the European financial services industry. This edited collection will be will be essential reading for students and academics but will also be of interest to financial practitioners and government officials...

  20. Firm performance, financial institutions and corporate governance in the Netherlands

    NARCIS (Netherlands)

    Chirinko, Bob

    1999-01-01

    This paper analyses the impact of share ownership, creditorship and net-working by financial institutions on the performance of 94 Dutch non-financial firms in the period 1992-1996. We find a nonlinear relationship between firm performance and ownership by banks. Because of various defense mechanism

  1. Firm performance, financial institutions and corporate governance in the Netherlands

    NARCIS (Netherlands)

    Chirinko, Bob

    1999-01-01

    This paper analyses the impact of share ownership, creditorship and net-working by financial institutions on the performance of 94 Dutch non-financial firms in the period 1992-1996. We find a nonlinear relationship between firm performance and ownership by banks. Because of various defense

  2. Are Family Firms Better Performers during Financial Crisis?

    DEFF Research Database (Denmark)

    Zhou, Haoyong

    (Italy) during the period 2006-2010, I give empirical evidences examining the performance of family firms vis-à-vis non-family firms during the current financial crisis. I find that broadly defined family firms, comprising 35 percent of the sample, do not outperform non-family firms during the crisis......, compared with non-family firms, founder firms have less administrative costs incurred. Moreover, they invest significantly less and have better access to credit market. All these findings contribute to superior accounting performance of founder firms during the crisis. My results suggest...... that in the financial crisis, founder firms bear the least agency cost and Tobin’s Q is not a good measure of corporate performance....

  3. The Effect Of Intangible Asset Financial Performance And Financial Policies On The Firm Value

    OpenAIRE

    Rindu Rika Gamayuni

    2015-01-01

    Abstract The purpose of this study is to test empirically the relationship between intangible assets financial policies and financial performance to the firm value at going-public company in Indonesia. Path analysis was used to ascertain the relationship between intangible assets financial policies financial performance and firm value at going-public company in Indonesia in the year 2007 to 2009. This study also provides empirical evidence that Intangible assets financial policies financial p...

  4. 76 FR 30396 - Deloitte Financial Advisory Services LLP, Real Estate Consulting, Houston, TX; Amended...

    Science.gov (United States)

    2011-05-25

    ... Financial Advisory Services LLP, Real Estate Consulting, Houston, TX; Amended Certification Regarding... of Deloitte Financial Advisory Services LLP, Real Estate Consulting, Houston, Texas (subject firm... Financial Advisory Services LLP, Real Estate Consulting, Houston, Texas who were adversely affected by a...

  5. Uncertain Context Factors in ERP Project Estimation are an Asset: Insights from a Semi-Replication Case Study in a Financial Services Firm

    NARCIS (Netherlands)

    Daneva, Maia

    This paper reports on the findings of a case study in a company in the financial services sector in which we replicated the use of a previously published approach to systematically balance the contextual uncertainties in the estimation of Enterprise Resource Planning (ERP) projects. The approach is

  6. Uncertain Context Factors in ERP Project Estimation are an Asset: Insights from a Semi-Replication Case Study in a Financial Services Firm

    NARCIS (Netherlands)

    Daneva, Maia

    2011-01-01

    This paper reports on the findings of a case study in a company in the financial services sector in which we replicated the use of a previously published approach to systematically balance the contextual uncertainties in the estimation of Enterprise Resource Planning (ERP) projects. The approach is

  7. Uncertain Context Factors in ERP Project Estimation are an Asset: Insights from a Semi-Replication Case Study in a Financial Services Firm

    NARCIS (Netherlands)

    Daneva, Maya

    2011-01-01

    This paper reports on the findings of a case study in a company in the financial services sector in which we replicated the use of a previously published approach to systematically balance the contextual uncertainties in the estimation of Enterprise Resource Planning (ERP) projects. The approach is

  8. Firm-specific factors and financial performance of firms in the Czech Republic

    Directory of Open Access Journals (Sweden)

    Pathirawasam Chandrapala

    2013-01-01

    Full Text Available The objective of this study is to investigate the role of internal factors in generating financial performance of firms in the Czech Republic. The paper examines the impact of firm specific factors on company financial performance of 974 firms in the Czech Republic over the period 2005 to 2008, using data in the Albertina database. Pooled and panel cross-sectional time series techniques are used for the data analysis. Return on Assets (ROA is the dependent variable of the model and eight firm specific factors are introduced as the explanatory variables. Using Return on Assets as the dependent variable, it is established that the firm size, sales growth and capital turnover are having significant positive impact on financial performance of firms. At the same time, debt ratio and inventory reflect significant negative impact on financial performance of firms. Overall explanatory powers of the two models are low and further research is necessary to increase the statistical power of the model. The results from the present study may be very encouraging and useful for managers as well as investors to plan investment and operational activities to achieve profitability objectives more efficiently and effectively. The findings have important managerial implications.

  9. Beefing up operations in service firms.

    Science.gov (United States)

    Chase, R B; Hayes, R H

    1991-01-01

    Many articles exhort service firm managers to empower workers and first-line supervisors, exploit technology, focus on the customer, and, above all, provide outstanding service. This article proposes a framework to help you evaluate your company's competitive standing in each of these areas. It discusses four types of companies on a continuum, from the company that is simply "available for service" to the firm that delivers world class service. The authors focus on operations, the function that controls the service encounter, and apply the manufacturing strategy paradigm to services as a means of implementing change.

  10. The Effect Of Intangible Asset Financial Performance And Financial Policies On The Firm Value

    Directory of Open Access Journals (Sweden)

    Rindu Rika Gamayuni

    2015-01-01

    Full Text Available Abstract The purpose of this study is to test empirically the relationship between intangible assets financial policies and financial performance to the firm value at going-public company in Indonesia. Path analysis was used to ascertain the relationship between intangible assets financial policies financial performance and firm value at going-public company in Indonesia in the year 2007 to 2009. This study also provides empirical evidence that Intangible assets financial policies financial performance have significant influence to the firm value simultaneously. Intangible assets has no significant influence to financial policies but has positive and significant influenced to financial performance ROA and firm value. Debt policies and financial performance ROA influenced firm value positive and significant. Financial statements limitation in measuring and disclosing intangible assets is the cause of significant difference between book value equity and market value equity. Measurement and disclosure of intangible assets intellectual capital precisely and aqurately is very important because intangible assets have a positive and significant effect to the firm value. Accounting standards should be concerned about this.

  11. Morocco - Financial Services

    Data.gov (United States)

    Millennium Challenge Corporation — The final evaluation of the Financial Services Project (FSP), undertaken by North South Consultants Exchange (NSCE), was undertaken from 17 April to end of September...

  12. Credit Scoring Model for Calculating Firm Financial Performance

    OpenAIRE

    Dãnilã Alexandra; Horga Maria-Gabriela; Negrea Alexandru

    2014-01-01

    Currently, a fundamental role in firm activity lies in financial performance, given that competition for each market segment has become increasingly tight and mechanisms of globalization exclude the weakest ones. So the chance to survive in this competition increases considerably for those firms who quickly find and reduce their vulnerabilities and furthermore implement performance management tools that facilitate discovery, explanation and solutioning difficulties. Research presented in this...

  13. Organizational Culture and the Financial Performance of Manufacturing Firms

    Directory of Open Access Journals (Sweden)

    Mahrooz Koochaki Golafzani

    2016-06-01

    Full Text Available This paper intends to examine the relationship between organizational culture and the financial performance of manufacturing firms in the province of Guilan (Iran. To do so, a statistical sample with the size of 247 firms located at industrial towns/parks in Guilan was selected. The required data was collected through questionnaire. Then, the relationship between organization culture, including the clan culture, adhocracy culture, market culture and hierarchy culture, and the financial performance was analyzed according to the proposed model and by using Spearman’s rank correlation coefficient. The results show that there is a significant positive relationship between clan culture (correlation coefficient: 0/65, adhocracy culture (0/63, market culture (0/68 and hierarchy culture (0/59 and the financial performance of manufacturing firms.

  14. The use of derivatives in Slovenian non-financial firms: is financial risk already well managed?

    Directory of Open Access Journals (Sweden)

    Aleš Berk

    2006-12-01

    Full Text Available Recent research about the financial behaviour of Slovenian firms has documented enterprise risk management as being one of its weakest areas. The goal of this article is to present insights into financial risk management, i.e. into the extent of the use of derivatives in the largest Slovenian firms and the related practices. The resultsare confronted with the same types of characteristics of US and German firms (although being much larger revealed in comparable studies. These firms provide relevant benchmarks for assessing the development gap since they operate in more advanced financial environments and are therefore expected to have much morerefined approaches to the use of derivatives than Slovenian firms. A survey points to the much smaller extent of the use of derivatives by Slovenian firms. There is a substantial gap, especially in the area of risk management policies (e.g. documentation, reporting, counterparty risk, valuation etc..

  15. IMPACT OF FINANCIAL CRISIS ON CONSTRUCTION FIRM`S COST OF CAPITAL

    Directory of Open Access Journals (Sweden)

    Schiau (Macavei Laura Liana

    2010-12-01

    Full Text Available The average cost of debt is negatively related with size, tangibility, firm growth, the leverage ratio, and the ratio of long- to short-term debt and positively to profitability. We find that the recent international crisis did have a significant impact on the set of firms in our sample, but affected the way in which leverage and the interest to debt ratio relate to firm fundamentals. In this article, we want to study the impact of financial crisis on the cost of capital using a sample of construction companies.

  16. Service-Oriented Strategies for Manufacturing Firms

    DEFF Research Database (Denmark)

    Tan, Adrian; McAloone, Tim C.; Matzen, Detlef

    2009-01-01

    This chapter establishes PSS (Product/Service-Systems) approaches in the context of manufacturing firms and their existing product-oriented business. PSS can be seen as a strategy for manufacturing firms to gain competitive advantage in the market, but what market conditions and organisational fa......, customers and partners in business planning and strategy to reap the full benefits. Finally a path to how manufacturers can make the change from product to service-orientation is traced.......This chapter establishes PSS (Product/Service-Systems) approaches in the context of manufacturing firms and their existing product-oriented business. PSS can be seen as a strategy for manufacturing firms to gain competitive advantage in the market, but what market conditions and organisational...

  17. Financial Participation Plans and Firm Financial Performance: Evidence from a Dutch Longitudinal Panel

    NARCIS (Netherlands)

    Poutsma, F.; Braam, G.J.M.

    2012-01-01

    This study investigates the relationship between financial participation plans, that is profit sharing, share plans and option plans, and firm financial performance using a longitudinal panel data set of non-financial listed companies for the period 1992–2009 comprising 2,216 observations. In

  18. Financial Participation Plans and Firm Financial Performance: Evidence from a Dutch Longitudinal Panel

    NARCIS (Netherlands)

    Poutsma, F.; Braam, G.J.M.

    2012-01-01

    This study investigates the relationship between financial participation plans, that is profit sharing, share plans and option plans, and firm financial performance using a longitudinal panel data set of non-financial listed companies for the period 1992–2009 comprising 2,216 observations. In additi

  19. Impact of Directors’ Remuneration on Financial Performance of a Firm

    Directory of Open Access Journals (Sweden)

    Sania Khalid

    2014-02-01

    Full Text Available This paper examines the possible association between financial performance of the firm and remuneration of its key management. It is also one of the very few examples, which attempts to test the pay-for-performance theory of agency conflict resolution in context of developing market(Pakistan. The present study examines the performance of firms in terms of profitability and its association with management remuneration for 70 Pakistani corporate firms listed in Karachi stock exchange for the period of 2007 to 2011 and attempts to explain the observed behaviour with the help of fixed effect model. The results consistently support the potential association between firm’s financial performance and management remuneration policy although the intensity of relationship differs across different measures of performance. We find evidence in support of the hypothesis that a positive association exists between remuneration and performance in terms of resource utilization and shareholder wealth.

  20. 76 FR 59170 - Hartford Financial Services, Inc., Corporate/EIT/CTO Database Management Division, Hartford, CT...

    Science.gov (United States)

    2011-09-23

    ... Employment and Training Administration Hartford Financial Services, Inc., Corporate/EIT/CTO Database...) applicable to workers and former workers Hartford Financial Services, Inc., Corporate/EIT/CTO Database... services. Specifically, the workers provide information technology support for the firm's...

  1. Service-Oriented Strategies for Manufacturing Firms

    DEFF Research Database (Denmark)

    Tan, Adrian; McAloone, Tim C.; Matzen, Detlef

    2009-01-01

    This chapter establishes PSS (Product/Service-Systems) approaches in the context of manufacturing firms and their existing product-oriented business. PSS can be seen as a strategy for manufacturing firms to gain competitive advantage in the market, but what market conditions and organisational fa......, customers and partners in business planning and strategy to reap the full benefits. Finally a path to how manufacturers can make the change from product to service-orientation is traced.......This chapter establishes PSS (Product/Service-Systems) approaches in the context of manufacturing firms and their existing product-oriented business. PSS can be seen as a strategy for manufacturing firms to gain competitive advantage in the market, but what market conditions and organisational...... factors (e.g. structure, processes, capabilities, measurement and reward systems, people and competencies and culture) support service-orientation? The development of PSS is not just a task of initiating a service-oriented development project, but requires careful coordination with business units...

  2. The Marketing-Finance Interface Towards Financial Services: with Special Reference to New Services Provided by Futures Exchanges

    NARCIS (Netherlands)

    Pennings, J.M.E.; Wetzels, M.G.M.; Meulenberg, M.T.G.

    1999-01-01

    The financial services industry is one of the fastest growing service industries. The financial services industry includes financial derivatives markets such as options and futures markets. In order to ensure survival, firms providing financial services show a rapid product innovation. However, for

  3. The Marketing-Finance Interface Towards Financial Services: with Special Reference to New Services Provided by Futures Exchanges

    NARCIS (Netherlands)

    Pennings, J.M.E.; Wetzels, M.G.M.; Meulenberg, M.T.G.

    1999-01-01

    The financial services industry is one of the fastest growing service industries. The financial services industry includes financial derivatives markets such as options and futures markets. In order to ensure survival, firms providing financial services show a rapid product innovation. However, for

  4. Business Model Design of Architectural Service Firms

    NARCIS (Netherlands)

    Bos-de Vos, M.; Lieftink, B.; Volker, L.; Wamelink, J.W.F.

    2014-01-01

    Due to significant changes in the architecture, engineering and construction industry, architectural firms have to adapt quickly to stay competitive. They need to innovate not only their products and services, but also make more fundamental changes in the way they create and appropriate value, there

  5. Examining internationalization of the professional services firm

    DEFF Research Database (Denmark)

    Skaates, Maria Anne

    2003-01-01

    This study examines three Danish architectural firms' market-seeking internationalization efforts on the German market of the nineties, (a) to find suitable descriptive models of architectural and other professional service firms' project acquisition and internationalization efforts and (b......, explorative-integrative approach to the scrutiny of existing theories and models. Key contributions of the Industrial Marketing and Purchasing (IMP) group of researchers and its subgroup, the International Network for Project Marketing and Systems Selling (INPM), are scrutinized, as are elements of the French...... indicate that IMP models of internationalization and governance structure need to be modified somewhat in order to capture the key features of the relations between the actors involved in the internationalization of architectural services. Moreover, previously existing models of knowledge management did...

  6. Does Nature of Financial Institutions Matter to Firm Growth in Transition Economies?

    Directory of Open Access Journals (Sweden)

    Abubakr SAEED

    2009-05-01

    Full Text Available Drawing on firm-level data set on transition economies, this paper investigates the relationship between financial institutions and firm growth. The paper focuses in perspective of growth, how the impact of various sources of external finance varies across firm size. Primarily, it is shown a differential impact of institutions on firm growth, precisely, in terms of employment and sale, growth augments by equity market, local banks, foreign banks, state-owned banks, trade credit and leasing, while informal lending abates growth. In particular, the results suggest that local banks and trade credit improve sale growth of small and medium firms, while these financial institutions are insignificant for large firms. By contrast, state owned banks and informal institutions constrain employment growth of small firms. It is confirmed that irrespective of firm size lease financing exerts statistically significant positive impact on firm growth. Moreover, financial system differences across the regions play vital role in firm growth-finance relationship.

  7. Why Do Firms Evade Taxes? The Role of Information Sharing and Financial Sector Outreach

    NARCIS (Netherlands)

    Beck, T.H.L.; Lin, C.; Ma, Y.

    2010-01-01

    Informality is a wide-spread phenomenon across the globe. We show that firms in countries with better information sharing systems and greater financial sector outreach evade taxes to a lesser degree, an effect that is stronger for smaller firms, firms in smaller cities and towns, and firms in indust

  8. Why Do Firms Evade Taxes? The Role of Information Sharing and Financial Sector Outreach

    NARCIS (Netherlands)

    Beck, T.H.L.; Lin, C.; Ma, Y.

    2010-01-01

    Informality is a wide-spread phenomenon across the globe. We show that firms in countries with better information sharing systems and greater financial sector outreach evade taxes to a lesser degree, an effect that is stronger for smaller firms, firms in smaller cities and towns, and firms in indust

  9. Internationalization Strategy and Financial Performance in Brazilian Firms

    Directory of Open Access Journals (Sweden)

    Pedro Paulo Mendes Silva

    2011-12-01

    Full Text Available The internationalization of the firm and the appearance of multinational companies are not recent events. The first initiatives to realize businesses overseas and increase profits in this way date from the beginning from the Modern Age. For Brazilian companies in particular, this phenomenon has been gaining attention since the 1990s, with the commercial opening of the country. The objective of this study was to analyze the strategy of internationalization in Brazilian companies, in particular the case of publically traded companies with foreign direct investments greater than $10 million, and the relation with the financial performance of these companies. Through a quantitative study using the rate of variation of internationalization and financial performance, researchers developed an analysis of the relation between the process of internationalization and financial performance indicators in nine companies that make up the non-probabilistic sample of convenience. The results concluded that there is a weak positive correlation with financial indicators of growth; profitability metrics show a negative relationship in some of the independent variables.

  10. Financial Strategies of the Exporting Firms in Turkey

    Directory of Open Access Journals (Sweden)

    Suleyman Degirmen

    2010-10-01

    Full Text Available The crises experiences of developing countries like Turkey have shown that moral hazard and adverse selection emerging via asymmetric information causes serious problems in financial markets. In this framework, firms’ capital structure decisions are one of the most important issues on finance literature. The aim of this article is to search an answer, by using the Modigliani-Miller, Trade off and Pecking Order theories, for the question of how exporting firms make their choices of financing along with analyzing the inevitable contribution of export to Turkish economic growth from micro aspect. In this study the relation between export/total sales, the growth rate of short run bank credit, the growth rate of long run bank credit, the growth rate of equity of firms that are ranked among the first and second 500 industrial firms in Turkey for the 1997-2008 periods is analyzed by “panel cointegration” method. A balanced panel is formed. In the series used, existence of unit root is tested by Im-Peasaran-Shin test. Finally, panel cointegration process is implemented. The result of empirical study indicate that there is a significant long run relationship between mentioned variables in Turkey for annual data from 1997 to 2008, and thus, support Pecking Order Theory.

  11. A FINANCIAL PERFORMANCE COMPARISON OF GROUP AND NON-GROUP FIRMS IN TEXTILE SECTOR OF PAKISTAN

    Directory of Open Access Journals (Sweden)

    Ishtiaq AHMAD

    2016-12-01

    Full Text Available Pakistan is a developing economy and business groups are key players of the Pakistan’s economy. Previous research evidence shows that in the emerging economies group affiliation creates value for the firms. This study is intended to empirically investigate to know that whether group affiliated (GA firms perform financially better than non-group affiliated firms or not? GA firms in emerging economies can have better financial performance by sharing tangible and intangible resources at group level. The financial ratio is used to compare performance of affiliated and non-group affiliated firms by using the data of 70 textile firms listed at Karachi Stock Exchange(now Pakistan Stock Exchange covering a period from 2008 to 2012. Based on mean values of return on assets (ROA, results of the study show that GA firms have higher financial performance than non-group affiliated firms in each year and over all five years.

  12. Determinants of Bank Loan Availability: Evidence From Pakistani Non-Financial Firms

    Directory of Open Access Journals (Sweden)

    Jaleel Ahmed

    2016-03-01

    Full Text Available In this research paper we have investigated the key factors which make it easier for non-financial firms to arrange financing from commercial banks. We have collected the data from the year 2001 to 2011 from 220 non-financial firms in Pakistan. We have used two measures of firm-bank relationship. First, if a non-financial firm has a board of director who is at the same time board of director of a commercial bank. Second, if a commercial bank has an equity stake in a non-financial firm. After using Fixed Effect model we have found that firm-bank relationships always matter for arranging bank loan for non-financial firms in Pakistan.

  13. The Impact of Financial Diplomacy and the Effects of Financial Crisis on Norwegian Firms' Capital

    Directory of Open Access Journals (Sweden)

    Dan DUMITRIU

    2015-03-01

    Full Text Available This research focuses on investigating changes in the financial diplomacy of the Norwegian firms’ leverages due to the decrease in banks’ lending as a consequence of the financial crisis shock wave. The research question is whether the leverage ratio measured as debt-to-equity significantly declined as a consequence of the credit crunch. Its purpose is to analyze the relationship between firms, financial diplomacy and banks and find out its implications on the capital structure, answering to the question whether firms whose bank received a large shock after Lehman Brothers’ default changed their capital structure or they found substitutes for bank lending. This paper does not study whether the changes in financial leverage led to a decreased performance of the companies, the research focuses on the relationship between Norwegian financial diplomacy and firms, emphasizing how performance of the banks influences the way in which a company finances its assets and which substitutes does it have when there is a credit crunch.

  14. Understanding Trust in Financial Services

    DEFF Research Database (Denmark)

    Hansen, Torben

    2012-01-01

    , respectively. In addition, the results marginally indicate that broad-scope trust negatively moderates the relationship between consumer financial knowledge and narrow-scope trust. This study encourages public policy makers, consumer organizations, and financial service providers to continue, improve, and...... their customers and/or in improving their financial healthiness........ This research extends prior research by developing a conceptual framework explaining how these constructs affect consumers' trust in their financial service provider. Based on two surveys comprising 764 pension consumers and 892 mortgage consumers, respectively, the results of this study indicate that financial...

  15. 76 FR 4393 - Discover Financial Services Negotiated Service Agreement

    Science.gov (United States)

    2011-01-25

    ... Discover Financial Services Negotiated Service Agreement AGENCY: Postal Regulatory Commission. ACTION... Financial Services negotiated service agreement to the market dominant product list. This notice addresses... 3020, et seq., to add a Discover Financial Services (DFS) negotiated service agreement to the...

  16. The Impact of Multinational Business Diversification on the Financial Sustainability of Construction Firms in Korea

    National Research Council Canada - National Science Library

    Lee, Sanghyo; Ahn, Yonghan; Shin, Sungwoo

    2016-01-01

      This study investigated empirically whether multinational business diversification by Korean construction firms contributes to their financial sustainability using the vector error correction model...

  17. INTERNAL FINANCIAL CONSTRAINTS, EXTERNAL FINANCIAL CONSTRAINTS AND INVESTMENT CHOICE: EVIDENCE FROM PAKISTANI FIRMS

    Directory of Open Access Journals (Sweden)

    Dr. Muhammad AZAM

    2011-10-01

    Full Text Available The purpose of this study is to analyze the impact of internal and external financial constraints on investmentchoice. The data have been taken from 9 major sectors (52 listed firms in the Karachi Stock Exchange namely; Pharmaceutical & Bio Technology, Textile, Sugar, Tobacco, Chemicals, Oil and Gas, Fixed line Telecommunication, Industrial metal and Mining, and Cement sectors for the time period 2004 to 2010 on annual basis. Multiple regression analysis has been done to examine the relationship among firm’s size, dividend payout ratio, firm’s age, and investment. The empirical findings show that there is positive relationship between the firms’ size and investment while a negative relationship exists between firms’ age and investment. It also reports that there is negative relationship between dividend payout ratio and the investment. This shows that if a firm grows old or high dividend payout ratio then it will tend to spend less for expansion as compared to the young firms.

  18. Examining the scope of multibusiness health care firms: implications for strategy and financial performance.

    Science.gov (United States)

    Noorein Inamdar, S

    2007-08-01

    of services and investing in a variety of new noncore business opportunities including many for-profit ventures). Significant differences in financial performance among the strategies were found when controlling for payer reimbursement conditions. Specifically, in an unfavorable condition with high Medicaid and low commercial insurance, the Mission Based strategy performs significantly worse while the Entrepreneur strategy performs surprisingly well, in comparison with the other strategies. Findings suggest: (a) scope can be used to classify a large number of multibusiness health care firms into a taxonomy representing a small group of distinct corporate strategies, which are recognizable by senior management in the health care industry, (b) no single strategy dominates in performance across different payer profiles, instead there appears to be complementarities or fit between strategy and payer profiles that determines which firms perform well and which do not under different conditions, and (c) senior management of nonprofit health care firms are cross-subsidizing unprofitable patient care through ownership of nonpatient care businesses including for-profit ventures.

  19. Value Creation Logics and Internationalization of Service Firms

    DEFF Research Database (Denmark)

    Ørberg Jensen, Peter D.; Petersen, Bent

    2014-01-01

    While mainstream theories in international business and management are founded either explicitly or implicitly on studies of manufacturing firms, prior attempts to develop theory on the internationalization of service firms are sparse and have yet to establish solid and comprehensive frameworks...... on a thorough understanding of the fundamental nature of these firms. We put forward ten propositions concerning the pace of internationalization in service firms and the dominant foreign operation modes. The use of value creation logics can be a useful complement to the conventional approaches to the study...... of service firms’ internationalization. However, the fact that most firms encompass more than one value creation logic complicates the use of firm databases and industry statistics. The study presents a novel theoretical approach and a set of propositions on service firm internationalization founded...

  20. Complex Incremental Product Innovation in Established Service Firms: A Micro Institutional Perspective

    OpenAIRE

    Vermeulen, Patrick; Bosch, Frans; Volberda, Henk

    2006-01-01

    textabstractMany product innovation studies have described key determinants that should lead to successful incremental product innovation. Despite numerous studies suggesting how incremental product innovation should be successfully undertaken, many firms still struggle with this type of innovation. In this paper, we use an institutional perspective to investigate why established firms in the financial services industry struggle with their complex incremental product innovation efforts. We ar...

  1. Hospitals look to hospitality service firms to meet TQM goals.

    Science.gov (United States)

    Hard, R

    1992-05-20

    Hospitals that hire contract service firms to manage one or all aspects of their hospitality service departments increasingly expect those firms to help meet total quality management goals as well as offer the more traditional cost reduction, quality improvement and specialized expertise, finds the 1992 Hospital Contract Services Survey conducted by Hospitals.

  2. A Comparison of the Financial Characteristics of NAFTA and Latin American Manufacturing Firms

    Directory of Open Access Journals (Sweden)

    Gulser Meric

    2017-01-01

    Full Text Available Comparing the financial characteristics of firms in different countries and different regions has been a popular research topic in finance. However, NAFTA and Latin American manufacturing firms have never been compared. In this paper, we undertake such a study with the MANOVA (Multivariate Analysis of Variance method and with data drawn from the Research Insight/Global Vintage database in October 2015. Our findings indicate that NAFTA manufacturing firms have less liquidity risk, but more financial risk, compared with Latin American Manufacturing firms. NAFTA manufacturing firms have significantly higher returns on equity due to achieving higher returns on assets and using more financial leverage. Latin American manufacturing firms have more efficient inventory management. However, NAFTA manufacturing firms have more efficient accounts receivable management and total assets management.

  3. Shipping Firm to Offer Funeral Service

    Institute of Scientific and Technical Information of China (English)

    黄菊妹

    2001-01-01

    Japan’s largest shipping company, Nippon Yusen KK, plans to offer a new funeral ash-scattering service in a bid to (释义见19页文) capitalize on demand fuelled by the high ccst of cemeteries in Japan, a financial daily said Sunday. 日本最大的海运公司Nippon Yusen KK打算提供新的骨灰海葬服务,以求赢利。日本的公墓的价格居高不下,刺激了骨灰海葬的需求。一份金融日报星期日称。

  4. Financial Management Competence of Founding Teams and Growth of New Technology-Based Firms

    DEFF Research Database (Denmark)

    Brinckmann, Jan; Gemuenden, Hans Georg; Salomo, Søren

    2009-01-01

    This article draws on the resource-based view to analyze the role founding teams' financial management competencies play for firm growth. Prior research stressed the importance of acquiring external financial resources. In this study, we broaden the understanding of financial management in new...... firms. We explore the relevance of strategic financial planning competence, external financing competence, competence in financing from cash flow, and controlling competence of entrepreneurial teams for the growth of new technology-based firms. A total of 212 founding teams provided self...

  5. Relationship Service Marketing and Investment in Financial Market of Iran

    Directory of Open Access Journals (Sweden)

    Mehrdad Alipour

    2012-08-01

    Full Text Available In competitive world, having expertise, knowledge and marketing experience for financial market activities, especially brokerage firms has proven inevitable. This should be accompanied by performing marketing operations along with intermediary roles and carrying on the daily transactions of shares in the Tehran stock exchange market. The current study aims investigating the level of marketing knowledge used in stock exchange market, identifying the reasons behind deficient use of the marketing knowledge by the financial institutions (financial intermediaries, brokerage firms and etc, matching the marketing activities with the financial activities of the brokerage firms in the Tehran stock exchange and finally improving the investment in Tehran stock exchange market. Independent variables were selected based on services marketing mix such as product, price, place, promotion, physical facilities, people and process. The method used is survey-based and the universe has been drawn from among the financial institutions active in Tehran stock exchange and the regional branches of the country. The results obtained from the research show that, during the period reviewed, the dynamic marketing system in the financial market was the traditional system without attending to the modern criteria of financial service marketing in the areas relating communication and determination of the shares prices, services of conduct transactions of the financial analyses and encouragement the big companies to enter the Tehran Stock Exchange.

  6. Value Creation Logics and Internationalization of Service Firms

    DEFF Research Database (Denmark)

    Ørberg Jensen, Peter D.; Petersen, Bent

    2014-01-01

    Purpose - While mainstream theories in international business and management are founded either explicitly or implicitly on studies of manufacturing firms, prior attempts to develop theory on the internationalization of service firms are sparse and have yet to establish solid and comprehensive...... be based on a thorough understanding of the fundamental nature of these firms. Design/methodology/approach - Theoretical study. Findings - We put forward propositions concerning the pace of internationalization and the default foreign operation modes in service firms. Research limitations....../implications - The use of value creation logics can be a useful complement to the conventional approaches to the study of service firms’ internationalization. However, the fact that most firms encompass more than one value creation logic complicates the use of firm databases and industry statistics. Practical...

  7. 10 CFR 603.615 - Financial management standards for-profit firms.

    Science.gov (United States)

    2010-01-01

    ... 10 Energy 4 2010-01-01 2010-01-01 false Financial management standards for-profit firms. 603.615 Section 603.615 Energy DEPARTMENT OF ENERGY (CONTINUED) ASSISTANCE REGULATIONS TECHNOLOGY INVESTMENT AGREEMENTS Award Terms Affecting Participants' Financial, Property, and Purchasing Systems Financial Matters...

  8. Technological Activities and Their Impact on the Financial Performance of the Firm : Exploitation and Exploration within and between Firms

    NARCIS (Netherlands)

    Belderbos, Rene; Faems, Dries; Leten, Bart; Van Looy, Bart

    2010-01-01

    The present study analyzes the impact of firms' technological strategies on their financial performance. Technology strategies are defined by making a distinction between explorative and exploitative as well as collaborative and solitary technological activities. Several hypotheses are tested on a p

  9. Financial Performance Analysis Of Financial Service Cooperative

    Directory of Open Access Journals (Sweden)

    Eyo Asro Sasmita

    2015-08-01

    Full Text Available This research is aimed to test and identify empirical evidence regarding the effect of capital structure and loan to financial performance of cooperative where the relationship between loan and financial performance is moderated by non-performing loan. The population of this research is 257 Financial Service Cooperative hereinafter referred to as KJK as the abbreviation for Koperasi Jasa Keuangan of Urban Village Community Economic Empowerment hereinafter referred to as PEMK as the abbreviation for Pemberdayaan Ekonomi Masyarakat Kelurahan in Jakarta 2011 to 2013. Sample is determined by using purposive sampling method. The data is secondary data which is obtained from the Revolving Fund Management Unit hereinafter referred to as UPDB as the abbreviation for Unit Pengelola Dana Bergulir Jakarta. Hypothesis is tested by using multiple linear regression analysis with SPSS 20.00. The number of sample used in this research is 120. Research findings explain that 1 Capital Structure hereinafter referred to as SM as the abbreviation for Struktur Modal has positive and significant impact on financial performance hereinafter referred to as KIN as the abbreviation for Kinerja Keuangan because the probability value of 0000 is smaller than amp945 0.05. Calculation shows that if the capital structure rises 1 assuming that the loan and non-performing loan variables remain the same then the financial performance will increase 0.017. 2 Loans hereinafter referred to as PIN as the abbreviation for Pinjaman given has positive and significant impact on KIN because the probability value of 0001 is smaller than amp945 0.05. If the loan rises 1 assuming that the capital structure and non-performing loan variables remain the same then the KIN will increase 0.013. 3 Non-performing loan has negative and significant effect on KIN because the probability value of 0000 is smaller than amp945 0.05. PBR varible increase 1 assuming that the loan and capital structure variables

  10. The Role of Ownership Concentration, its Types and Firm Performance: A Quantitative Study of Financial Sector in Pakistan

    Directory of Open Access Journals (Sweden)

    Kashif Rashid

    2014-06-01

    Full Text Available The issue of ownership concentration has attracted a lot of attention in an emerging economy. The aim of this study is to investigate the impact of ownership concentration and its different types on the performance of a firm. For this purpose a panel data of 27 firms of banking and financial services sector of Pakistan listed at Karachi Stock Exchange (KSE is used as a sample for the period from 2007 to 2011. Ownership concentration and types of ownership are used as independent variables. Tobin’s Q is used as a proxy for the firm performance. The results of regression show that ownership concentration has a negative impact on the performance of a firm. Furthermore, the results of the study suggest that bigger size, individual and family ownership and bank and institutional ownership improve the value of shareholders in the selected market. The types of ownership have a positive relationship with the firm performance supporting stewardship theory. On the contrary, higher leverage and aged firms deteriorate the shareholder’s value in Pakistan. The results of incremental regression analysis show that the firm size is the most important variable in affecting the value of a firm. These results are valuable to researchers and policy makers in Pakistan.

  11. MARKET COMPETITION AND MERGERS IN PROFESSIONAL SERVICE FIRMS

    OpenAIRE

    Yi-Fang Yang; Lee-Wen Yang; Yahn-Shir Chen

    2012-01-01

    This study examines competition level and merger in Taiwanese audit industry over a long time interval of 1992-2008. Total public accounting firms are divided into four sub-samples in terms of market segment, including big, large, medium, and small firms. Next, based on prior studies and service attribute, this study establishes four practice sub-markets: auditing, tax, consultation, and accounting. Empirical results indicate that big firms have the highest competition level but the other thr...

  12. 76 FR 23859 - Financial Management Service Proposed Collection of Information; Financial Institution Agreement...

    Science.gov (United States)

    2011-04-28

    ... Fiscal Service Financial Management Service Proposed Collection of Information; Financial Institution... the Financial Institution Agreement and Application AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice and request for comments. SUMMARY: The Financial Management Service, as...

  13. The Expansion of Corporate Groups in the Financial Services Industry: Trends in Financial Conglomeration in Major Industrial Countries

    OpenAIRE

    Financial Systems and Bank Examination Department

    2005-01-01

    In recent years, a growing number of financial services companies in major industrial countries have begun to make inroads into each other's sectors, spurred by changing financial needs, innovations in financial engineering, deregulation, and a variety of other trends and developments. These companies include banks, securities companies, insurers, and even consumer finance and asset management/advisory firms. Among the most significant developments is the expansion of financial conglomerates,...

  14. Financial Investment Services Regulation

    Directory of Open Access Journals (Sweden)

    Gabriela Anghelache

    2006-02-01

    Afterwards, the focus is set on the transparency and integrity of the operations. Another aspect is about the free circulation of services and about the role of the clearing fund, being distinguished all the sensitive elements this fund raises.

  15. Institutions and financial frictions: estimating with structural restrictions on firm value and investment

    NARCIS (Netherlands)

    Claessens, S.; Ueda, K.; Yafeh, Y.

    2014-01-01

    Using an enhanced version of the standard investment model, we estimate how institutions affect financial frictions at the firm (micro) level and, through the required rate of return, at the country (macro) level. Based on some 78,000 firm-year observations from 40 countries over the period

  16. Steering manufacturing firms towards service business model innovation

    NARCIS (Netherlands)

    Kastalli, I.V.; van Looy, Bart; Neely, A.

    2013-01-01

    Increasingly, manufacturing firms are turning to services as a new way of creating and capturing value. Despite its potential benefits, many new product-service providers struggle to deploy service activities effectively, not least because they fail to reflect the presence of service activities in

  17. Steering manufacturing firms towards service business model innovation

    NARCIS (Netherlands)

    Kastalli, I.V.; van Looy, Bart; Neely, A.

    2013-01-01

    Increasingly, manufacturing firms are turning to services as a new way of creating and capturing value. Despite its potential benefits, many new product-service providers struggle to deploy service activities effectively, not least because they fail to reflect the presence of service activities in t

  18. A Study on Firm Mergers One of the Financial Structure Strengthening Precautions: Tansaş-Migros Merger

    Directory of Open Access Journals (Sweden)

    Berna YILDIZ TULUM

    2009-06-01

    Full Text Available In last years, it is examined that there is an increase in the number of firms that faces with financial distress in both our country and in west. In terms of social and economic results, the financial distress of the firms is a very big problem. Consequently, financial distress prediction carries an very big importance. By forecasting the probability of facing with financial distress, the firms can be able to catch the opportunity of taking necessary financial structure strengthening precautions. Firm mergers is one of the many financial structure strengthening precautions. This study aims to improve models that provides the prediction of financial distress 1-3 years before in firms that is active in retail sector and have transactions in IMKB by showing the firm mergers which is one of the financial structure strengthening precautions in Tansaş and Migros Merger in retail sector.

  19. Policy principles for expanding financial access: report of the CGD task force on access to financial services

    NARCIS (Netherlands)

    Claessens, S.; Honohan, P.; Rojas-Suarez, L.

    2009-01-01

    Despite the rapid growth in finance worldwide over the past quarter-century — now interrupted by the global financial crisis — many low-income households and small firms remain excluded from access to many financial services, especially in developing countries. While traditionally seen by many

  20. Financial innovation, communication and the theory of the firm

    OpenAIRE

    Bettzüge, Marc Oliver; Hens, Thorsten

    2000-01-01

    When markets are incomplete, the competitive equilibria considered so far are not constrained Pareto–efficient, production efficiency breaks down and shareholders no longer agree on the objective function of the firm. We first show by way of an example that these inefficiencies can result from the double role of firms in incomplete markets: providing high market value and providing good hedging opportunities (spanning role). To disentangle these two conflicting roles of the firm’s decision, w...

  1. How do Managerial Successions Shape Corporate Financial Policies in Family Firms?

    DEFF Research Database (Denmark)

    Amore, Mario Daniele; Minichilli, Alessandro; Corbetta, Guido

    2011-01-01

    Despite recent evidence on the importance of chief executive officer (CEO) successions in family firms, we still know little about the differences in corporate strategies entailed by family and professional managers around transition. We investigate the consequences of managerial successions...... financing: the increase in debt is particularly pronounced for young firms, firms with a high level of investment, and firms in which the controlling family maintains a dominant representation on the board of directors. Examining the importance of financial flexibility, we find that the increase in debt...

  2. Factors Affecting Corporate Cash Holding of Non-Financial Firms in Pakistan

    Directory of Open Access Journals (Sweden)

    Atif Kafayat

    2014-06-01

    Full Text Available The previous researches explore the question of why firms hold cash. But there are few researches done in developing countries like Pakistan. The need for cash is characterized by its policies of firms regarding capital structure, working capital requirements, cash flow management, dividend payments, and asset management. In this paper, the impact of these factors is normally analyzed under the framework of Tradeoff theory, Pecking Order Theory and Free Cash Flow Theory. This paper focuses on determining the level of corporate cash holdings of non-financial Pakistani firms, and cash holding requirement among different industries. The data is set for period of 2008- 2012 by using the data of 40companies and 6 industries. The findings of the study support the theories. Which show that firm size, net working capital, leverage, Capital Expenditure and Dividend significantly affect the cash holdings of non-financial firms in Pakistan.

  3. Access to Financial Services: A Review of the Issues and Public Policy Objectives

    National Research Council Canada - National Science Library

    Stijn Claessens

    2006-01-01

    .... It provides data on the use of basic financial services by households and firms across a sample of countries, assesses the desirability of universal access, and provides an overview of the macro...

  4. Evaluating the financial performance of agri-food firms: a multicriteria decision-aid approach

    NARCIS (Netherlands)

    Kalogeras, N.; Baourakis, G.; Zopounidis, C.; Dijk, van G.

    2005-01-01

    Food economists and financial researchers have long been preoccupied by the issue of evaluating the performance of agri-food firms. As the financial restructuring of the agri-business sector during the past two decades or so reflects sweeping changes that have occurred worldwide, questions have aris

  5. INTRINSIC FACTORS AND FIRM FINANCIAL ANALYSIS WITH TRIPPLE BOTTOM LINES AS INTERVENING VARIABLE AGAINST FIRM VALUE Empirical Studies on Property and Real Estate Companies Year 2010-2013

    OpenAIRE

    Sari, Mia Andika; Wiralaga, Harya Kuncara; Warokka, Ari

    2016-01-01

    This research conducted to examine the influence of intrinsic factors which being proxied with Capital Structure, Firm Size, Firm Age and Financial factors that being proxied with liquidity, profitability also with another activities using tripple bottom lines as Intervening Variable against Firm Value of Property Industries. The data that being used in this study were obtained from published financial statements during the period 2010 to 2013, as well as annual reports that can be accessed t...

  6. 75 FR 66796 - Pricewaterhousecoopers LLP (“PwC”), Internal Firm Services Client Account Administrators Group...

    Science.gov (United States)

    2010-10-29

    ... Employment and Training Administration Pricewaterhousecoopers LLP (``PwC''), Internal Firm Services Client... subject firm should read PricewaterhouseCoopers LLP (``PwC''), Internal Firm Services Client Account... subject firm to read PricewaterhouseCoopers LLP (``PwC''), Internal Firm Services Client Account...

  7. A Comparative Analysis of the Entrepreneurial Orientation/Growth Relationship in Service Firms and Manufacturing Firms

    DEFF Research Database (Denmark)

    Rigtering, J.P. Coen; Kraus, Sascha; Eggers, Fabian

    2014-01-01

    This article builds on the recently increasingly mentioned notion that entrepreneurship in the service sector is a worthwhile, but clearly underresearched topic. Using a sample of 1,612 small- and medium-size enterprises from the four German-speaking countries Germany, Austria, Switzerland......, and Liechtenstein, and using structural equation modeling, this article finds that service firms have a significantly higher entrepreneurial orientation (EO) than manufacturing firms – both on the overall level as well as for each of the three sub-categories proactiveness, innovativeness, and risk...

  8. Using financial derivatives to hedge against currency risk : British large and medium-sized firms

    OpenAIRE

    Nguyen, My

    2012-01-01

    Nowadays, as a growing number of firms strive to conduct their business at international market place, currency risk has increasingly raised concern among financial mangers due to its substantial impact on companies’ financial results. Financial derivative instruments (Forward, Futures, Options, Swaps) are utilized as efficient hedging mechanisms against such an exchange rate exposure. The main objective of this study is to examine whether derivatives play a primary role in mitigating an adve...

  9. 75 FR 22680 - Financial Management Service; Proposed Collection of Information: Annual Financial Statement of...

    Science.gov (United States)

    2010-04-29

    ... Fiscal Service Financial Management Service; Proposed Collection of Information: Annual Financial Statement of Surety Companies--Schedule F AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice and Request for comments. SUMMARY: The Financial Management Service, as part of its...

  10. How did the 2007-2008 Financial Crisis Influence Turkish Firms

    Directory of Open Access Journals (Sweden)

    Emine Ebru AKSOY

    2015-12-01

    Full Text Available Abstract. This paper investigates whether 2007-2008 global financial crisis hadan effecton Turkish firms. For this purpose, we investigated the firm-specific factors affecting the stock returns of firms in the BIST-XU100 in the 2004-2009 periods. The period was divided into two sub-samples, namely pre-crisisand during-crisis periods. Moreover, the effects of firm size, market-to-book ratio (MB, and price-to-earnings (PE ratio on stock return were examined using feasible generalized least-squares (FGLS and panel-corrected standard errors (PCSE models. In the literature, the US subprime mortgage crisis meltdown and spillover effects were studied on different countries and different stock markets. In this study, not only crisis effects but also effects of firm-specific factors were considered. Integration levels of the series were investigated by panel unit root tests. The models were used for both sub-samples, and the results of the two models werecompared. The results showed that. Size and MB variables were significant in all the periods and had positive effects on the stock return of the firms, and the global financial crisis hada significant but weak effect on Turkish firms.Keywords.Financial Crisis, Stock Market, FGLS, PCSE.JEL.C23, G01, G20.

  11. Financial Leverage Behaviour and Firm Performance: Evidence from Publicly Quoted Companies in Nigeria

    Directory of Open Access Journals (Sweden)

    Godsday Okoro Edesiri

    2014-08-01

    Full Text Available This paper scrutinizes financial leverage behaviour and firm performance of publicly quoted companies in Nigeria. Data of Leverage, Profitability and Firm Size were sourced from the Nigerian Stock Exchange Fact-book and Annual Report and Accounts of 120 publicly quoted companies in Nigeria during the period 1990 through 2013. Findings suggest that profitability and firm size had a negative effect on financial leverage behaviour of publicly quoted companies in Nigeria. Thus, it was recommended that firms should carry out projects that would help enhance size and profitability in all aspect of the firm. Size in terms of assets would help increase the internal funding. This in turn will have a positive impact on the financial structure of firm as more of internally generated funds will be used instead of external borrowings. Firms should not assume that making of profit shows good application of leverage as this was not found to be true from the analysis. This implies that the result can be relied upon for policy direction.

  12. ICAF Financial Services Industry Study

    Science.gov (United States)

    2005-06-01

    the Securities and Exchange Commission that regulates the securities markets. More recently, in the wake of the scandals at Enron and WorldCom that...transparency of the system. Government regulation is often an outgrowth of financial services industry scandals or excesses that harmed investors...bubble - asset over-valuation; - The terrorist attacks of September 11, 2001 - lack of system security and redundancy; - The Enron and WorldCom crises

  13. The effect of global financial crisis on leasing firms

    OpenAIRE

    Škrobar, Jana

    2015-01-01

    In this diploma thesis I analyse the causes and the background of the global financial and economic crisis, the complexities of the financial market and the impact of the crisis on the financial sector and the real economy. Focusing my research on the leasing market, I analyse the European and the Slovenian leasing market and the impact of the crisis on leasing companies in Slovenia and other EU Member States. Furthermore, on the example of the company X Leasing d.o.o. I analyse the effects o...

  14. Mergers, acquisitions and the evolution of construction professional services firm

    OpenAIRE

    Connaughton, John; Meikle, Jim; Teerikangas, Satu

    2015-01-01

    Whilst mergers and acquisitions are a favoured means of strategic renewal and expansion for firms, scant academic attention has been placed on the growth patterns of construction professional services firms (CPSFs). This paper focuses on the role of mergers and acquisitions in the evolution of CPSFs. The findings are based on an analysis of the growth patterns of the top 25 CPSFs in the United Kingdom between 1988 and 2013. Since the 1990s, the increase in merger and acquisition activity has ...

  15. Quantitative marketing research on behavior of the small and medium companies on financial advisory services

    Directory of Open Access Journals (Sweden)

    Duguleana, L.

    2013-12-01

    Full Text Available This paper presents the results of quantitative marketing research conducted among small and medium enterprises in Braşov County. The research identified organizational elements of the consumer behavior in the use of the financial advisory services. The objective is to determine whether there is association between firm size and the number of financial advice services outsourced. Results of the study will be based construction of the price policy for financial advisory firms, tailored to the financial constraints faced by small and medium enterprises in Romania.

  16. Examining internationalization of the professional services firm

    DEFF Research Database (Denmark)

    Skaates, Maria Anne

    2003-01-01

    ) to develop hypothetical prepositions for future testing. Due to the small population of Danish architectural firms and the very spread and eclectic body of research on the marketing of projects such as architectural projects, the study encompasses mainly qualitative case research as well as an abductive......, explorative-integrative approach to the scrutiny of existing theories and models. Key contributions of the Industrial Marketing and Purchasing (IMP) group of researchers and its subgroup, the International Network for Project Marketing and Systems Selling (INPM), are scrutinized, as are elements of the French...... sociologist Pierre Bourdieu's social and cultural capital framework and various contributions from reference theory and the boundary spanner and knowledge management literatures. The study's research questions focus on understanding relations between the actors involved in the Danish internationalization...

  17. Firms' Perceptions of the Business Cycle and Their Managerial and Financial Conditions

    OpenAIRE

    Kazumi Asako; Koichi Ando; Kazuyuki Matsumoto

    2007-01-01

    Perception of the business cycle can differ among firms, which has been confirmed by extensive survey data. The question we want to answer in this paper is "What causes differences in business cycle perception?" by utilizing a newly designed questionnaire. Specifically, we match properties emphasizing the absolute level of economic activities or the direction of their changes and indicators of a firm's managerial and financial conditions, and examine the relationship between them. Based on ou...

  18. The influence of reporting standards and inter-firm relationships on financial reporting.

    OpenAIRE

    Leung, P.Y.E.

    2013-01-01

    Abstract: Accounting information is vital for many aspects in business and numerous parties rely on reported information for a variety of purposes. Understanding how factors in a firm’s environment, such as standard setting, inter-firm relationships, managerial incentives and capital providers, influence the quality of this information is therefore crucial. This thesis focuses on two such factors, namely international financial reporting standards (IFRS) and inter-firm relationships. Chapter ...

  19. The Influence of Voluntary and Mandatory Environmental Performance on Financial Performance: An Empirical Study of Indonesian Firms

    OpenAIRE

    Kimitaka Nishitani; Nurul Jannah; Hardinsyah Ridwan; Shinji Kaneko

    2013-01-01

    This paper, using data derived from a questionnaire survey of Indonesian firms, analyzes not only whether a firm's environmental performance improves its financial performance, but also whether this relationship depends on the firm's stance on conducting environmental management voluntarily or mandatorily. The estimation results suggest that a reduction of greenhouse gas (GHG) emissions increases a firm's profit, because firms that conduct environmental management voluntarily are more likely ...

  20. Firms and financial markets: empirical studies on the information value of dividends, governance and financial reporting

    NARCIS (Netherlands)

    van Beusichem, Herman Clasinus

    2016-01-01

    This dissertation contains three empirical studies that contribute to our understanding of dividend, governance and transparency policies of Dutch listed firms. The first study describes the dividend policy decisions of Dutch firms in the twentieth century. The fraction of dividend-paying firms has

  1. Financial claims and product market competition: An explanation for permitting banks to hold equity in firms

    Directory of Open Access Journals (Sweden)

    Pao Shin-Heng

    2008-01-01

    Full Text Available This paper examines financial claims for lending if banks are permitted to hold equity in productive firms. We demonstrate that in situations where an oligopolistic product market has relatively high competition, e.g., quasi-competitive behavior, equity holding by banks is likely to do little damage. However, where the product market has relatively high collusion, e.g., corporative behavior, equity holding by banks are very unlikely to hold equity in firms. Our findings provide an alternative argument that lifting the Glass-Steagall Act restricting banks from holding equity in firms should give little cause for concern.

  2. Ownership Structure and Firm Financial Performance: Evidence from Panel Data in Sri Lanka

    Directory of Open Access Journals (Sweden)

    Nirosha Hewa Wellalage

    2014-09-01

    Full Text Available This study investigates the effects of equity ownership structure on financial performance of Sri Lankan listed businesses. Using dynamic panel generalised method of moment this study finds an inverse hump shape relationship between insider ownership and firm financial performance. The results of this study confirm that the effect of insider ownership on firm performance is more positive and significant where legal protection for investors is weak. It suggests that although new legislative reforms have been enacted, Sri Lankan companies are highly dependent on internal governance mechanisms. There is potential merit in promulgating new rules to control the expropriation of minority shareholders.

  3. Assessing the firm performance through the financial ratios

    Directory of Open Access Journals (Sweden)

    VASILESCU LAURA

    2011-09-01

    Full Text Available The main objective of every firm is the creation of value, respectively the investment for which the efficiency resulted is above the profitability ratio required by the shareholders. In this paper are presented the fianancial indicators used for a proper value measuring of the firm’s performance, which are grouped in three categories: accounting, economical and stock exchange. For each group of indicators are presented the weak and strong points and there is underlined the importance of each indicator in order to reflect the value creation.

  4. INTEREST COVERAGE RATIOS (ICRs AND FINANCIAL SUSTAINABILITY: APPLICATION TO FIRMS WITH BOVINE DAIRY LIVESTOCK

    Directory of Open Access Journals (Sweden)

    Giuseppe Bonazzi

    2014-01-01

    Full Text Available Agricultural firms with bovine dairy livestock are characterized by high investments in capital equipment and this is determined by the biological cycle of production, which requires large investments in land, facilities and bovine herd. These large investments require funding from equity capital or debt capital, which generates financial costs. Therefore, it is necessary to assess not only the profitability of firms in the sector but also the financial sustainability of the business cycle, applying appropriate indexes. To analyze this issue, the article has developed an approach to the verification of the financial sustainability of debt, out of a sample of dairy companies in Italy, putting in comparison Interest Coverage Ratios (ICRs calculated using different approaches. In the article, we propose a financial approach to calculate the ICRs and verify the correlation and diversity, where statistically significant, of ICRs calculated with the Financial (FICRs and the Economic (EICRs approaches. The research shows that the sample firms have difficulty in generating cash flow and this difficulty is highlighted by traditional profitability analysis. Likewise, EICRs traditionally applied by banks are statistically different, even if correlated, with respect to the FICRs proposed in the article. The results of the research suggest that firms in the sector must pay particular attention to the financial sustainability of operations, in particular in dealing with the banks for the financing of debts. Similarly, banks should put in place systems analysis that are more effective than those currently used to assess the agricultural firms. The suggested approach could be applied even to other sectors’ agrifood system, particularly if capital intensive; at the same time, the approach could be useful also if applied to agricultural cooperatives, even in developing countries that often suffer by financial constraints.

  5. Entrepreneurship and Professional Service Firms – A Literature Review

    OpenAIRE

    2014-01-01

    Research on entrepreneurship in professional services is rather limited. We argue that one reason why the two fields of professional services and entrepreneurship have operated in isolation rather than in mutual interaction is an inherent contradiction between the very ideas of entrepreneurship and professionalism. Our perspective on entrepreneurship for this chapter is rather broad, focusing on new venture management and renewal in professional service firms as well as embracing aspects such...

  6. Financial balance - basic tool in approaching financial diagnosis for firm valuation

    OpenAIRE

    Dorel BERCEANU; Nicolae SICHIGEA; Marcel DRĂCEA

    2010-01-01

    This paper addresses a very topical issue, namely the importance in assessing the company's financial accounts. Thus, after a brief role in evaluating company financial diagnosis and approaches related to the concept of financial balance, we presented the financial balance sheet in terms of logic building financial stability analysis. At the end of the paper were presented some conclusions.

  7. Organisational blueprints for growth in service firms

    NARCIS (Netherlands)

    Post, D.; Van der Meer, J.D.; Hammer, M.H.M.

    2015-01-01

    Start-ups and Smaller and Medium sized Enterprises are vital for national economies. The vast majority of these enterprises can be found in services industries. One of the parameters to measure performance of a company is growth. Only a very small percentage of these enterprises find ways to

  8. Organisational blueprints for growth in service firms

    NARCIS (Netherlands)

    Post, D.; Van der Meer, J.D.; Hammer, M.H.M.

    2015-01-01

    Start-ups and Smaller and Medium sized Enterprises are vital for national economies. The vast majority of these enterprises can be found in services industries. One of the parameters to measure performance of a company is growth. Only a very small percentage of these enterprises find ways to sustain

  9. Motivating talents in Thai and Malaysian service firms

    DEFF Research Database (Denmark)

    Lehmann, Sanne

    2009-01-01

    Talent development in Thailand and Malaysian service firms has become a prioritized human resource management practice as these societies move toward knowledge-based economies. This paper discusses talent management in the social, organizational and managerial context of firms in Thailand...... and Malaysia, and argues that such structures often counterbalance investments made in talent development. The paper concludes that new human resource management practices do not produce a difference per se. It is the mindset and attitude of various managers that makes the difference. The learning...... for practitioners is that they need to adapt existing social and organizational structures to their new human resource management practices. The paper is based mainly on qualitative interviews with human resource managers from Thai and Malaysian service firms....

  10. INTRINSIC FACTORS AND FIRM FINANCIAL ANALYSIS WITH TRIPPLE BOTTOM LINES AS INTERVENING VARIABLE AGAINST FIRM VALUE Empirical Studies on Property and Real Estate Companies Year 2010-2013

    Directory of Open Access Journals (Sweden)

    Mia Andika Sari

    2016-09-01

    Full Text Available This research conducted to examine the influence of intrinsic factors which being peroxided with Capital Structure, Firm Size, Firm Age and Financial factors that being peroxided with liquidity, profitability also with another activities using triple bottom lines as Intervening Variable against Firm Value of Property Industries. The data that being used in this study were obtained from published financial statements during the period 2010 to 2013, as well as annual reports that can be accessed through the IDX website. Data analysis technique used in this study is a regression with panel data and path analysis. The results of this research showed that intrinsic factors and financial variables have a significant influence on the firm value, as well as intrinsic factors and financial variables have a significant influence on the triple bottom lines. From the results of path analysis demonstrated that the indirect effect using the triple bottom lines as a intervening variable was greater than the direct effect.

  11. Marketingvalkuilen voor advocatenkantoren en andere professional service firms

    NARCIS (Netherlands)

    Otterlo, van Rob; Uittenboogaard, Paul; Dijk, van Hanneke

    2013-01-01

    In dit online opiniestuk zetten de auteurs uiteen hoe advocatenkantoren en andere professional service firms zich kunnen onderscheiden met hun marketingstrategie. Regels uit de klassieke marketingschool met de vier P's als uitgangspunt gelden niet voor de zakelijke dienstverlening op dezelfde manier

  12. CEO Business Education and Firm Financial Performance: A Case for Humility Rather than Hubris

    Science.gov (United States)

    Lindorff, Margaret; Jonson, Elizabeth Prior

    2013-01-01

    Purpose: The purpose of this paper is to examine the relationship between CEO business education and firm financial performance. Design/methodology/approach: An analysis of the relationship between three-year and five-year shareholder return as measured by dividend and change in share price and CEO educational qualification was performed.…

  13. Financial Performance of Socially Responsible Firms: The Short- and Long-Term Impact

    Directory of Open Access Journals (Sweden)

    Maria J. Charlo

    2017-09-01

    Full Text Available The pressure of society for firms to adopt socially responsible behavior is evident. Yet, Corporate Social Responsibility (CSR needs an economic justification. In response to this, there exists a comprehensive literature that analyzes the possible relation between social and business financial performance. During the last decade, the literature has been heading toward the carrying out of dynamic studies as researches find that the relationship between social and financial performance is not static. The purpose of this work is to analyze the relevance for the financial performance of Spanish listed firms of maintaining their responsible behavior. To do so, we carry out a comparison between two analyses—one cross-sectional, and the other longitudinal—to be able to conclude whether or not adopting responsible criteria makes a difference in business financial performance in the short and long-term. Some of the results obtained in the cross-sectional study are consolidated in the long-term study. In this sense, responsible firms exhibit a higher systematic risk and have greater size. As a conclusion, be responsible does not mean less stock profitability or a lower business result. It certainly contributes to firms continuing to voluntarily incorporate good corporate social responsibility practices into their business models. What is more, these results support the governmental policies and initiatives that bolster corporate social responsibility.

  14. CEO Business Education and Firm Financial Performance: A Case for Humility Rather than Hubris

    Science.gov (United States)

    Lindorff, Margaret; Jonson, Elizabeth Prior

    2013-01-01

    Purpose: The purpose of this paper is to examine the relationship between CEO business education and firm financial performance. Design/methodology/approach: An analysis of the relationship between three-year and five-year shareholder return as measured by dividend and change in share price and CEO educational qualification was performed.…

  15. The Proposal for Ensurance of Financial Stability of the Firm

    OpenAIRE

    Oškerová, Kateřina

    2007-01-01

    Cílem této diplomové práce je na základě metod finanční analýzy posledních 4 uzavřených účetních období (tj. 2003 - 2006) zjistit finanční zdraví podniku a odhalit problémové oblasti. Obsahuje návrhy možných řešení zjištěných problémů, které mají vést ke zlepšení finanční situace společnosti a její stabilizaci v následujících letech. This thesis assesses the financial health and the problematic areas of the company in the years 2003 - 2006 on the basis of selected methods of financial anal...

  16. Globalisation/regionalisation of accounting firms and their sustainability services

    OpenAIRE

    van der Kolk, A; Margineantu, A.

    2009-01-01

    Purpose - The debate about global integration (standardisation) versus responsiveness (adaptation) has recently been supplemented with perspectives that emphasise regionalisation. And while the discussion has also been extended from manufacturing to services, there are specific sectors and emergent topics that have not yet received much attention. The purpose of this paper is to explore how accounting firms (The Big Four) and particularly their sustainability services fit in the globalisation...

  17. Firms and Financial Markets : Empirical Studies on the Informational Value of Dividends, Governance and Financial Reporting

    NARCIS (Netherlands)

    H.C. van Beusichem (Henry)

    2016-01-01

    textabstractThis dissertation contains three empirical studies that contribute to our understanding of dividend, governance and transparency policies of Dutch listed firms. The first study describes the dividend policy decisions of Dutch firms in the twentieth century. The fraction of dividend-payin

  18. Firms and Financial Markets : Empirical Studies on the Informational Value of Dividends, Governance and Financial Reporting

    NARCIS (Netherlands)

    H.C. van Beusichem (Henry)

    2016-01-01

    textabstractThis dissertation contains three empirical studies that contribute to our understanding of dividend, governance and transparency policies of Dutch listed firms. The first study describes the dividend policy decisions of Dutch firms in the twentieth century. The fraction of

  19. Customer satisfaction: Cost driver or value driver? Empirical evidence from the financial services industry

    NARCIS (Netherlands)

    Terpstra, M.; Verbeeten, F.H.M.

    2014-01-01

    We investigate the relation between customer satisfaction, customer servicing costs, and customer value in a financial services firm. We find that customer satisfaction is positively associated with future customer servicing costs, as well as with customer value. The relation between customer satisf

  20. Customer satisfaction: Cost driver or value driver? Empirical evidence from the financial services industry

    NARCIS (Netherlands)

    Terpstra, M.; Verbeeten, F.H.M.

    2014-01-01

    We investigate the relation between customer satisfaction, customer servicing costs, and customer value in a financial services firm. We find that customer satisfaction is positively associated with future customer servicing costs, as well as with customer value. The relation between customer

  1. LMSS SERVICES FINANCIAL REPORT PROGRAM

    Science.gov (United States)

    Chamberlain, R. G.

    1994-01-01

    The objective of this Services Finance Report program is to provide a means for comparing alternative designs of LMSS systems or other services systems. This program is actually a Multiplan worksheet. The labels used in the worksheet were chosen for a satellite-based cellular communication service (LMSS - Land Mobile Satellite System) but the analysis is not restricted to such cases. A comprehensive financial model is used to calculate a 'figure of merit' which can be used to compare effects of equipment and operating costs, pricing strategy, and customer demand for different systems. The program also calculates the price that a company would have to charge customers to meet all its expenses and make a specified profit. A price estimate can be obtained for almost any service which is heavily dependent on capital investment and which has operating costs that depend on the amount of service sold. The economic analysis has two main components: supplier finances and customer finances. Supplier finances include amortization, interest, insurance, taxes, and operating and maintenance expenses. Customer finances include usage rate, subscription fees, equipment costs, and estimated traffic. Prices can defined as real or nominal to account for effects of escalation and inflation, and the profits can be regulated or unrestricted This program is written for interactive execution with Multiplan (version 1.2) and has been implemented on an IBM PC series computer operating under DOS (version 2.11). The LMSS worksheet has a space requirement of approximately 38K of 8 bit bytes. This worksheet was developed in 1984.

  2. RISK MANAGEMENT IN UK CORPORATIONS: COMPARING FINANCIAL SERVICE INDUSTRY, OIL AND GAS INDUSTRY AND OTHER NON-FINANACIAL INDUSTRIES

    OpenAIRE

    Olaseinde, Olumide, K.

    2012-01-01

    Abstract The focus of this research is to determine whether UK corporations (comparing firms in the financial service industry, oil and gas industry and other non-financial industries) have a more formal developed risk management process. Despite regulations and recommendations (such as the Walker review (2009), the Turner review (2009), the Financial Reporting Council (2011) etc.) there are only limited information on how firms manage risk and how they report risk management processes to...

  3. The Impact of Multinational Business Diversification on the Financial Sustainability of Construction Firms in Korea

    Directory of Open Access Journals (Sweden)

    Sanghyo Lee

    2016-10-01

    Full Text Available This study investigated empirically whether multinational business diversification by Korean construction firms contributes to their financial sustainability using the vector error correction model. In this study, the current ratio and the debt ratio were used as proxy variables for financial sustainability. International construction orders and domestic construction orders were used as proxy variables for multinational business diversification for the analysis. Of the models used for analysis in this study, Model A used the current ratio and international and domestic construction orders, and Model B used the debt ratio and international and domestic construction orders. The time-series data utilized consisted of the quarterly data from Q1 of 2001 to Q4 of 2015. The results of the analysis imply that an increase in international construction orders undermines the financial viability of construction firms because of a decrease in the current ratio and an increase in the debt ratio. The results also show that the scrutinized analysis of profitability was insufficient because overseas project orders were not pursued based on a long-term business strategy but on short-term turnover. Therefore, Korean construction firms should recognize the overseas construction market as an independent market, not an alternative to the domestic market, and establish a long-term business strategy to enter overseas markets effectively to secure financial sustainability.

  4. Innovations in Rural Financial Services Provision

    DEFF Research Database (Denmark)

    Ndyetabula, Daniel; Temu, Andrew E.

    2013-01-01

    The aim of at investigating innovations related to financial services for the agri-bussiness sector, suing examples from Tanzania......The aim of at investigating innovations related to financial services for the agri-bussiness sector, suing examples from Tanzania...

  5. THE ROLE OF FINANCIAL EDUCATION IN DEVELOPING THE FINANCIAL SERVICES MARKET

    OpenAIRE

    Ivanka Daneva

    2015-01-01

    Considering the current complexity of financial markets and of financial instruments and services, financial education is part of population’s financial literacy and it ranks as paramount factor in the complex for the financial markets development.

  6. THE ROLE OF FINANCIAL EDUCATION IN DEVELOPING THE FINANCIAL SERVICES MARKET

    OpenAIRE

    Ivanka Daneva

    2015-01-01

    Considering the current complexity of financial markets and of financial instruments and services, financial education is part of population’s financial literacy and it ranks as paramount factor in the complex for the financial markets development.

  7. Financial planning and analysis techniques of mining firms: a note on Canadian practice

    Energy Technology Data Exchange (ETDEWEB)

    Blanco, H.; Zanibbi, L.R. (Laurentian University, Sudbury, ON (Canada). School of Commerce and Administration)

    1992-06-01

    This paper reports on the results of a survey of the financial planning and analysis techniques in use in the mining industry in Canada. The study was undertaken to determine the current status of these practices within mining firms in Canada and to investigate the extent to which the techniques are grouped together within individual firms. In addition, tests were performed on the relationship between these groups of techniques and both organizational size and price volatility of end product. The results show that a few techniques are widely utilized in this industry but that the techniques used most frequently are not as sophisticated as reported in previous, more broadly based surveys. The results also show that firms tend to use 'bundles' of techniques and that the relative use of some of these groups of techniques is weakly associated with both organizational size and type of end product. 19 refs., 7 tabs.

  8. Financial liberalisation and the dynamics of firm leverage in a transitional economy: evidence from South Africa

    Directory of Open Access Journals (Sweden)

    Chimwemwe Chipeta

    2012-06-01

    Full Text Available This paper examines the dynamics of corporate capital structures for listed non-financial firms in South Africa. The dynamic models of capital structure have been utilised to document several findings of empirical significance. First, transaction costs reduce dramatically in the post liberalisation regime, and the associated speed of adjustment is more pronounced, and statistically significant for the post liberalisation epoch. Second, financial liberalisation has a significant impact on the capital structure speed of adjustment. Third, the results confirm most of the theoretical predictions of capital structure theories; however, the relationship is more significant in the post liberalised regime. Finally, new evidence has been revealed on what determines the debt maturity structure of firms in a transitional economy.

  9. Service regime: An empirical analysis of innovation patterns in service firms.

    NARCIS (Netherlands)

    Chang, Y.C.; Linton, J.D.; Linton, Jonathan; Chen, M.N.

    2012-01-01

    The concept of service regime is developed to extend and test Miozzo and Soete's service taxonomy. Derived from the synthesis approach of service innovation, the service regime considers sources of innovation, innovation trajectories, and appropriability. Hypotheses on firm patterns of innovation

  10. Service regime: An empirical analysis of innovation patterns in service firms.

    NARCIS (Netherlands)

    Chang, Y.C.; Linton, J.D.; Chen, M.N.

    2012-01-01

    The concept of service regime is developed to extend and test Miozzo and Soete's service taxonomy. Derived from the synthesis approach of service innovation, the service regime considers sources of innovation, innovation trajectories, and appropriability. Hypotheses on firm patterns of innovation ar

  11. Benin - Access to Financial Services

    Data.gov (United States)

    Millennium Challenge Corporation — The performance evaluation undertaken included administrative financial data from MFIs and MSMEs which received grants under the Benin Compact as well as survey data...

  12. Are firm- and country-specific governance substitutes? Evidence from financial contracts in emerging markets

    OpenAIRE

    Francis, Bill; Hasan, Iftekhar; Song, Liang

    2012-01-01

    We investigate how borrowers’ corporate governance influences bank loan contracting terms in emerging markets and how this relation varies across countries with different country-level governance. We find that borrowers with stronger corporate governance obtain favorable contracting terms with respect to loan amount, maturity, collateral requirements, and spread. Firm-level and country-level corporate governance are substitutes in writing and enforcing financial contracts. We also find that t...

  13. Financial Stability and Financial Inclusion

    OpenAIRE

    Morgan, Peter J; Pontines, Victor

    2014-01-01

    Developing economies are seeking to promote financial inclusion, i.e., greater access to financial services for low-income households and firms, as part of their overall strategies for economic and financial development. This raises the question of whether financial stability and financial inclusion are, broadly speaking, substitutes or complements. In other words, does the move toward greater financial inclusion tend to increase or decrease financial stability? A number of studies have sugge...

  14. 75 FR 54445 - Senior Executive Service; Financial Management Service Performance Review Board (PRB)

    Science.gov (United States)

    2010-09-07

    ... Fiscal Service Senior Executive Service; Financial Management Service Performance Review Board (PRB) AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice. SUMMARY: This notice announces the appointment of members to the Financial Management Service (FMS) Performance Review Board...

  15. Shocks Abroad, Pain at Home? Bank-firm Level Evidence on the International Transmission of Financial Shocks

    NARCIS (Netherlands)

    Ongena, S.; Peydro, J.L.; van Horen, N.

    2013-01-01

    Abstract: We study the international transmission of shocks from the banking to the real sector during the global financial crisis. For identification, we use matched bank-firm level data, including many small and medium-sized firms, in Eastern Europe and Central Asia. We find that

  16. Shocks Abroad, Pain at Home? Bank-firm Level Evidence on the International Transmission of Financial Shocks

    NARCIS (Netherlands)

    Ongena, S.; Peydro, J.L.; van Horen, N.

    2013-01-01

    Abstract: We study the international transmission of shocks from the banking to the real sector during the global financial crisis. For identification, we use matched bank-firm level data, including many small and medium-sized firms, in Eastern Europe and Central Asia. We find that internationally-b

  17. Introduction to Financial Services. Teacher Edition. Financial Services Series.

    Science.gov (United States)

    Oklahoma State Dept. of Vocational and Technical Education, Stillwater. Curriculum and Instructional Materials Center.

    This document contains teacher's materials for a course designed for 11th- and 12th-grade students who are interested in pursuing a career in financial institutions. The course consists of six instructional units: orientation, personal money management, the wise use of credit, negotiable instruments, communications, and security. Depending on the…

  18. US service firms eye increased sales to Mexico

    Energy Technology Data Exchange (ETDEWEB)

    1992-05-18

    This paper reports on American service supply companies which hope the pending U.S.-Mexico free trade agreement will step up their sales of goods and service to Petroleos Mexicanos. They testified at a House foreign affairs subcommittee hearing on the oil aspects of the FTA and commented on a recent General Accounting Office report. Rep. Sam Gejdenson, (D-Conn.), subcommittee chairman, has been critical of FTA negotiations because it appears they will not open the Mexican oil sector to U.S. firms. Mexico's constitution bans foreign firms from owning Mexican reserves. It has been stated that the U.S. oil industry needs the business. The industry, particularly drillers, contractors, and manufacturers of oil equipment, has been hurting for more than 10 years now. They have lost more than 356,000 jobs in this sector in the last decade more than have been lost in the entire U.S. auto industry. Access to trade and investment in Mexico's oil sector could mean the difference between profit and bankruptcy for tens of thousands of small and medium size oil service contractors.

  19. Exploring service development for understanding Schumpeterian innovation in service firms: the deduction of special case criteria

    OpenAIRE

    Flikkema, Meindert

    2005-01-01

    The identification of innovation in services is problematic. This seems remarkable, since many papers have emerged, which emphasize distinctive features of service innovation. However, some of these contributions strain the Schumpeterian innovation opinion or describe in fact the role of service firms in systems of innovation. In the present paper service innovation is concerned as a special case of service development and a direct reference to Schumpeter is made as Drejer proposes (Drejer, I...

  20. 78 FR 8596 - Hartford Financial Services Group, Inc., Commercial/Actuarial/ Information Delivery Services (IDS...

    Science.gov (United States)

    2013-02-06

    .../ Information Delivery Services (IDS)/Corporate & Financial Reporting Group, Hartford, CT; Notice of Negative... Services Group, Inc., Commercial/Actuarial/Information Delivery Services (IDS)/Corporate & Financial... Hartford Financial Services Group, Inc., Commercial/Actuarial/Information Delivery Services...

  1. 7 CFR 1700.33 - Financial Services Staff.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 11 2010-01-01 2010-01-01 false Financial Services Staff. 1700.33 Section 1700.33... AGRICULTURE GENERAL INFORMATION Agency Organization and Functions § 1700.33 Financial Services Staff. The Financial Services Staff evaluates the financial condition of financially troubled borrowers in order...

  2. The effects of intellectual capital on financial performance: A case study of petrochemical and pharmaceutical firms

    Directory of Open Access Journals (Sweden)

    Naser Azad

    2012-04-01

    Full Text Available There is no doubt that traditional accounting does not provide actual value of assets since they only measure tangible assets. Intellectual capital provides a new concept for measuring actual value of the assets and we can calculate future values of the firm. In this paper, we first calculate intellectual capital based on the ratio of market value/book value for three years period. Then we investigate the relationship between intellectual capital and growth rate of intellectual capital as well as financial performance of some publicly traded petrochemical and pharmaceutical firms. The results of our survey indicate that there is a positive relationship between intellectual capital and equity growth with EVA and return of assets. However, there is no meaningful relationship between intellectual assets with net earnings.

  3. Corporate Social Performance and Corporate Financial Performance: A Link for the Indian Firms

    Directory of Open Access Journals (Sweden)

    Rupal Tyagi

    2013-03-01

    Full Text Available The present study addresses the issue of the relationship between Corporate Social performance and corporate Financial Performance in Indian context under good management theory. The study used S&P ESG India Index as a proxy of CSP/ CSR (Corporate social performance or Corporate Social Responsibility of Indian firms for the first time over the 2005–2011 periods. We designed econometric models and controlled industry specific attributes and performed Weighted Least Square method for the analysis. Overall results show neutral though modest negative relationship between the CSP and CFP which eventually informs that if there would be any relationship, it would be negative.

  4. How Formalization Hinders Different Firm Innovativeness Types: Opening the Black Box with Evidence from a Service Industry

    OpenAIRE

    Dilek Zamantili Nayir; Ulrich Tamm; Serdar S. Durmusoglu

    2014-01-01

    The purpose of this paper is to analyze the effects of organizational formalization on the behavioral, market, product, and process types of firm innovativeness as well as the interplay between these different innovativeness types. Based on data collected through a survey of the financial services industry in Turkey, the analyses show that formalization directly hinders both behavioral and market innovativeness. Moreover, as behavioral innovativeness influences product and process innovativen...

  5. Student Centered Financial Services: Innovations That Succeed

    Science.gov (United States)

    Sinsabaugh, Nancy, Ed.

    2007-01-01

    This collection of best practices shares how 18 higher education institutions across the country have successfully evaluated and redesigned their student financial services programs to improve services to students and their parents and find cost savings for the institution. This volume illustrates how other institutions have successfully tackled…

  6. Financial Services Segregation: Improving Access to Financial Services for Recent Latino Immigrants

    OpenAIRE

    Sarah Stookey

    2010-01-01

    This paper outlines elements of demand for financial services among recent Latino immigrants, summarizes key factors contributing to their financial segregation, and describes products, services and administrative practices that have been used successfully by depository institutions. Throughout the research and paper particular attention has been paid to the New England region.

  7. 77 FR 60177 - Senior Executive Service; Financial Management Service Performance Review Board (PRB)

    Science.gov (United States)

    2012-10-02

    ... Senior Executive Service; Financial Management Service Performance Review Board (PRB) AGENCY: Financial Management Service, Treasury. ACTION: Notice. SUMMARY: This notice announces the appointment of members to the Financial Management Service (FMS) Performance Review Board (PRB). DATES: This notice is...

  8. New maps, new questions: Global cities beyond the advanced producer and financial services sector

    NARCIS (Netherlands)

    Toly, N.J.; Bouteligier, S.; Gibson, B.; Smith, G.

    2012-01-01

    This article broadens the discussion of cities as strategic sites in which global activities are organized. It deploys methodology commonly used to study the distribution and disproportionate concentration of advanced producer and financial services firms in order to study the office distribution of

  9. A Firm Level Study of Information Technology Productivity in Europe Using Financial and Market Based Measures

    Directory of Open Access Journals (Sweden)

    Alan Peslak

    2004-05-01

    Full Text Available For many years, business has invested significant resources in information technology, hardware, software, and manpower. The Productivity Paradox is the seeming lack of productivity gains despite the increased investment in IT. For many years the existence of a Productivity Paradox has been the subject of research interest. Conflicting results have been obtained from a variety of data sets. Until this time however there has been no study that has investigated European companies’ use of information technology and its impact on productivity. The objective of this study was to investigate information technology productivity with a new data set from a European published source, and measuring productivity using both market and financial based measures. Results of the study indicated that information technology did have a consistent positive impact on firm level productivity in Europe for the years 1996, 1997, and 1998. Both market and financial based productivity measures provided consistent positive significant returns with regard to IT productivity. The major contribution of the study is that it provides an analysis of the impact of European information technology on firm and economic productivity.

  10. ELECTRONIC BANKING ADVANTAGES FOR FINANCIAL SERVICES DELIVERY

    Directory of Open Access Journals (Sweden)

    Paun Dragos

    2010-12-01

    Full Text Available E-banking is a fully automatic service for traditionally banking customers products based on information technology platforms. E-banking services provide customer access to accounts, the ability to move their money between different accounts or making payments via e-channels. The advantages generated by this services have determined an accelerate developing of this industry over the entire world. This paper examines some of the advantages of electronic banking products together with the characteristic management issues generated by the implementation of this new channel for financial services delivery.

  11. MARKETING MIX IN FINANCIAL INVESTMENT SERVICES COMPANIES

    OpenAIRE

    Ioana Ancuța IANCU

    2016-01-01

    Given that services of Financial Investment Services Companies can be very similar (described by law), it's very important that they be distinguished by certain elements from competitors, thereby gaining market share. How can they do that? By adding value for customers. International literature offers views on creating competitive advantage considering the elements of the Marketing Mix: product, price, placement, promotion, personnel, process and physical evidence. From our experience in brok...

  12. Financial Services for Post-Quake Reconstruction

    Institute of Scientific and Technical Information of China (English)

    Li Zhen

    2008-01-01

    @@ The May 12 earthquake in Sichuan caught Chinese people by surprise and took the nation's heart.While mourning the dead and searching for the missing,many services must be provided for the survivors in the wake of the earth quake.Available post-quake financial services have become an important part of the reconstruction effort in the disaster stricken areas of Sichuan province.

  13. Evaluating the enhancement and improvement of China's technology and financial services platform innovation strategy.

    Science.gov (United States)

    Wu, Ching-Sung; Hu, Kuang-Hua; Chen, Fu-Hsiang

    2016-01-01

    The development of high-tech industry has been prosperous around the world in past decades, while technology and finance have already become the most significant issues in the information era. While high-tech firms are a major force behind a country's economic development, it requires a lot of money for the development process, as well as the financing difficulties for its potential problems, thus, how to evaluate and establish appropriate technology and financial services platforms innovation strategy has become one of the most critical and difficult issues. Moreover, how the chosen intertwined financial environment can be optimized in order that high-tech firms financing problems can be decided has seldom been addressed. Thus, this research aims to establish a technology and financial services platform innovation strategy improvement model, as based on the hybrid MADM model, which addresses the main causal factors and amended priorities in order to strengthen ongoing planning. A DEMATEL technique, as based on Analytic Network Process, as well as modified VIKOR, will be proposed for selecting and re-configuring the aspired technology and financial services platform. An empirical study, as based on China's technology and financial services platform innovation strategy, will be provided for verifying the effectiveness of this proposed methodology. Based on expert interviews, technology and financial services platforms innovation strategy improvement should be made in the following order: credit guarantee platform (C)_credit rating platform (B)_investment and finance platform (A).

  14. 78 FR 773 - Hartford Financial Services Group, Inc., Commercial/Actuarial/Information Delivery Services (IDS...

    Science.gov (United States)

    2013-01-04

    ... Employment and Training Administration Hartford Financial Services Group, Inc., Commercial/Actuarial/ Information Delivery Services (IDS)/Corporate & Financial Reporting Group, Hartford, CT; Notice of Affirmative... workers of Hartford Financial Services Group, Inc., Commercial/ Actuarial/Information Delivery...

  15. Human resource management practices aimed at seeking the commitment of employees on financial and non-financial (subjective performance in spanish firms: an empirical contribution

    Directory of Open Access Journals (Sweden)

    Rafael Triguero

    2012-06-01

    Full Text Available The purpose of this paper is to assess the relationship between Human Resource Management (HRM practices and organizational performance in Spanish firms from a financial and non-financial perspective (subjective. The empirical study was conducted with a sample of 102 firms in the region of Andalucía (Spain. The results of statistical analysis have shown the fundamental role of establishing HRM practices aimed at seeking the employees’ commitment and its positive influence on organizational performance. Results also showed that the subjective measures for organizational performance better explained this phenomenon of study.

  16. 48 CFR 452.237-78 - Contracts with Consulting Firms for Services.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 4 2010-10-01 2010-10-01 false Contracts with Consulting....237-78 Contracts with Consulting Firms for Services. As prescribed in 437.270(b), insert a clause substantially as follows: Contracts with Consulting Firms for Services (FEB 1988) Offerors are specifically...

  17. Predictors of organisational performance in small and medium-sized professional service firms

    NARCIS (Netherlands)

    Glunk, Ursula; Wilderom, Celeste P.M.

    1998-01-01

    The paper sets out our theoretical and empirical approach to delineating predictors of stakeholder performance in medium-sized computer service firms. It combines a resource-based approach with recent insights from the literature on small and medium-sized firms, professional service, and computer-se

  18. Factors Influencing Pricing Decision: Evidence from Non-Financial Firms in Nigeria

    Directory of Open Access Journals (Sweden)

    Luqman Olawale

    2017-02-01

    Full Text Available This study examines the significant factors influencing pricing decision in Nigeria. The study is based on the appraisal of the factors that influence pricing decision using 100 non-financial companies listed on the Nigeria Stock Exchange (NSE in 2013. The cross sectional data was obtained from annual reports of the sampled firms which were analyzed based on OrdinaryRegression model. The results revealed that cost of sales has an insignificant positive effect on pricing policy, while company’s objective and consumer perception has significant positive relationship on pricing policy. On the external determinants, market demand and availability of close substitute has a significant negative effect on pricing policy while macroeconomic trend and market segment has insignificant negative effect on pricing policy. This study therefore suggests among others that, effort should be made on reducing cost of production in order to maximize profit.

  19. Analysis of labor productivity using large-scale data of firm's financial statements

    Science.gov (United States)

    Ikeda, Y.; Souma, W.; Aoyama, H.; Fujiwara, Y.; Iyetomi, H.

    2010-08-01

    We investigated labor productivity distribution by analyzing large-scale financial statement data consisting of listed and unlisted Japanese firms to clarify the characteristics of the Japanese labor market. Both high and low productivity sides of the labor productivity distribution follows the power-law distribution. Large inequality in the low productivity side was observed only for the manufacturing sectors in Japan fiscal year (JFY) 1999 and observed for both the manufacturing and non-manufacturing sectors in JFY 2002. The decline in the Japanese GDP in JFY 1999 and JFY 2002 were coincided with the large inequality in the low productivity side of the distribution. A lower peak was found for all non-manufacturing sectors. This might be the origin of the low productivity of the non-manufacturing sectors reported in recent economic studies.

  20. Social and cultural capital in project marketing service firms: Danish architectural firms on the German market

    DEFF Research Database (Denmark)

    Skaates, Maria Anne; Tikkanen, Henrikki; Alajoutsijärvi, Kimmo

    2002-01-01

    This article analyses the marketing activities of three Danish architectural firms in Germany during the 1990s from a perspective that is new to project marketing, in that the Bourdivan concepts of social and cultural capital are applied to the offerings and activities of firms. In architecture......, cultural capital accumulation entails such things as building visible buildings, winning design competitions, or obtaining important tenders, whereas social capital is accumulated through the recognition by other construction industry actors that one is a member of their circles. The cases presented...... are best viewed as distinct project marketing milieus....

  1. Marketing of financial services and customer loyalty in the Nigerian ...

    African Journals Online (AJOL)

    Marketing of financial services and customer loyalty in the Nigerian banking sector. ... that banks must invest more in financial service marketing strategies that would help to keep their customers. ... EMAIL FULL TEXT EMAIL FULL TEXT

  2. Working Capital Management and the Profitability of Non- Financial Firms Listed on the Zimbabwe Stock Exchange (ZSE

    Directory of Open Access Journals (Sweden)

    Walter Gachira

    2014-07-01

    Full Text Available Working capital is essential for the day-to-day operations of a firm. The study examines the impact of working capital management on the profitability of non-financial firms listed on the Zimbabwe Stock Exchange (ZSE. Using panel data methodology, the direction and extent of the impact of working capital management on profitability is scrutinised. The regression analysis is based on a panel sample of 39 non-financial firms listed on the ZSE from 2009 to 2013, the period under which the Zimbabwean economy has been operating under the multicurrency system. It was found that there is a positive relationship between debtors’ days and firm’s profitability, a negative relationship between creditors’ days and profitability and a positive relationship between firm’s cash conversion cycle and its profitability. There is some negative relationship between current ratio and profitability, while inventory turnover days and profitability are positively related. Debt to asset ratio as a control variable has a significant negative relationship with firm value and profitability. The results of the study show that for the companies included in the sample, there are mixed effects of the components of working capital on firm performance. Managers can thus create value for shareholders by taking note of the existence of such relationships and take measures that enhance firm profitability.

  3. Time-varying causal network of the Korean financial system based on firm-specific risk premiums

    Science.gov (United States)

    Song, Jae Wook; Ko, Bonggyun; Cho, Poongjin; Chang, Woojin

    2016-09-01

    The aim of this paper is to investigate the Korean financial system based on time-varying causal network. We discover many stylized facts by utilizing the firm-specific risk premiums for measuring the causality direction from a firm to firm. At first, we discover that the interconnectedness of causal network is affected by the outbreak of financial events; the co-movement of firm-specific risk premium is strengthened after each positive event, and vice versa. Secondly, we find that the major sector of the Korean financial system is the Depositories, and the financial reform in June-2011 achieves its purpose by weakening the power of risk-spillovers of Broker-Dealers. Thirdly, we identify that the causal network is a small-world network with scale-free topology where the power-law exponents of out-Degree and negative event are more significant than those of in-Degree and positive event. Lastly, we discuss that the current aspects of causal network are closely related to the long-term future scenario of the KOSPI Composite index where the direction and stability are significantly affected by the power of risk-spillovers and the power-law exponents of degree distributions, respectively.

  4. 77 FR 34127 - Financial Management Service; Proposed Collection of Information: Electronic Transfer Account...

    Science.gov (United States)

    2012-06-08

    ... Fiscal Service Financial Management Service; Proposed Collection of Information: Electronic Transfer Account (ETA) Financial Agency Agreement AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice and Request for comments. SUMMARY: The Financial Management Service, as part of its...

  5. Social and cultural capital in project marketing service firms: Danish architectural firms on the German market

    DEFF Research Database (Denmark)

    Skaates, Maria Anne; Tikkanen, Henrikki; Alajoutsijärvi, Kimmo

    2002-01-01

    This article analyses the marketing activities of three Danish architectural firms in Germany during the 1990s from a perspective that is new to project marketing, in that the Bourdivan concepts of social and cultural capital are applied to the offerings and activities of firms. In architecture......, cultural capital accumulation entails such things as building visible buildings, winning design competitions, or obtaining important tenders, whereas social capital is accumulated through the recognition by other construction industry actors that one is a member of their circles. The cases presented...... provide support for our claim that the accumulation of social and cultural capital is crucial to acquiring architectural projects, while also indicating that cultural and social capital are internationally transferable to a limited extent only. This in turn suggests that national construction industries...

  6. Lean Six Sigma in financial services

    OpenAIRE

    Koning, H.; Does, R.J.M.M.; Bisgaard, S.

    2008-01-01

    Lean Thinking and Six Sigma are typically considered as separate approaches to process innovation, with complementary strengths. When combined as Lean Six Sigma, this approach provides a unified framework for systematically developing innovations. Lean Six Sigma can also bring about significant results and breakthrough improvements in financial services, as demonstrated with four case studies from Dutch multinational insurance companies. These cases demonstrate the importance of incremental i...

  7. Why exporters can be financially constrained in a recently liberalised economy? A puzzle based on Argentinean firms during the 1990s

    OpenAIRE

    Espanol, Paula

    2006-01-01

    Trade-related characteristics have only been recently started to be included in empirical studies analysing the determinants of the financial constraints faced by firms. A result broadly shared by these studies is that exporting firms tend to be those less financially constrained. In this paper we test this result using panel data built up from quarterly balance sheet information for 74 Argentinean big firms covering the years of the currency board regime (1992-2001). We estimate an investmen...

  8. Distribution system choice in a service industry: An analysis of international insurance firms operating in the United States

    NARCIS (Netherlands)

    Parente, R.; Choi, B.P.; Slangen, A.H.L.; Ketkar, S.

    2010-01-01

    Service firms play an increasingly important role in the global economy. However, the internationalization strategies of such firms, and especially their distribution system choices, have been underexplored in the international management literature. One specific service industry that has internatio

  9. Distribution system choice in a service industry: An analysis of international insurance firms operating in the United States

    NARCIS (Netherlands)

    Parente, R.; Choi, B.P.; Slangen, A.H.L.; Ketkar, S.

    2010-01-01

    Service firms play an increasingly important role in the global economy. However, the internationalization strategies of such firms, and especially their distribution system choices, have been underexplored in the international management literature. One specific service industry that has internatio

  10. Exploring business model innovation in professional service firms: Insights from architecture

    NARCIS (Netherlands)

    Lieftink, B.; Bos-de Vos, M.; Lauche, K.; Smits, A.

    2014-01-01

    Business model innovation may be a significant source of competitive advantage and firm performance. New ways of doing business have become increasingly important in the professional service sector. This research specifically focuses on business model innovation by architecture firms, which are

  11. The effects of customer equity drivers on loyalty across services industries and firms

    NARCIS (Netherlands)

    Ou, Yi-Chun; Verhoef, Peter C.; Wiesel, Thorsten

    2017-01-01

    Customer equity drivers (CEDs)-value equity, brand equity, and relationship equity-positively affect loyalty intentions, but this effect varies across industries and firms. We empirically examine potential industry and firm characteristics that explain why the CEDs-loyalty link varies across service

  12. Exploring business model innovation in professional service firms: Insights from architecture

    NARCIS (Netherlands)

    Lieftink, B.; Bos-de Vos, M.; Lauche, K.; Smits, A.

    2014-01-01

    Business model innovation may be a significant source of competitive advantage and firm performance. New ways of doing business have become increasingly important in the professional service sector. This research specifically focuses on business model innovation by architecture firms, which are suff

  13. 75 FR 66797 - PricewaterhouseCoopers LLP (“PwC”) Internal Firm Services Client Account Administrators Group...

    Science.gov (United States)

    2010-10-29

    ... Employment and Training Administration PricewaterhouseCoopers LLP (``PwC'') Internal Firm Services Client... read PricewaterhouseCoopers LLP (``PwC''), Internal Firm Services Client Account Administrators Group... PricewaterhouseCoopers LLP (``PwC''), Internal Firm Services Client Account Administrators Group. The amended...

  14. Does High-Quality Financial Reporting Mitigate the Negative Impact of Global Financial Crises on Firm Performance? Evidence from the United Kingdom

    Directory of Open Access Journals (Sweden)

    Zhiwei Lin

    2014-12-01

    Full Text Available Prior literature has claimed that accounting plays a negative role in a financial crisis. The current study sought to determine whether this effect is dependent on the quality of financial reporting. Specifically, this study examined the impact of the quality of financial reporting (as measured via earnings quality on liquidity (measured by the bid-ask spread in the equity market during the 2008–2009 global financial crisis in the United Kingdom. We found, as expected, that market liquidity was much lower during the crisis than prior to the crisis; however, firms with high-quality financial reporting suffered fewer negative effects as a result of the financial crisis. The results were robust after controlling for other influences, such as return volatility, loss making, market value of equity, and other potential endogeneity problems. In addition, adopting alternative models for earnings quality did not alter our inferences. Our results support the notion that high-quality accounting information can reduce information asymmetry and hence enhance investor confidence during a financial crisis. The results suggest that a stable financial reporting system is an important part of that overall economic fabric. Our findings will help build a framework on which an overall financial crisis risk-management strategy can be developed to avoid future crises.

  15. The Use of Derivatives as a Risk Management Instrument: Evidence from Indonesian Non-Financial Firms

    National Research Council Canada - National Science Library

    I Wayan Nuka Lantara

    2012-01-01

    .... Using Probit and Tobit regression models, the results indicate that the use of derivatives is positively associated with firm size, market-to-book value, bank-firm relationship, and the involvement...

  16. Thorny roses: The motivations and economic consequences of holding equity stakes in financial institutions for China’s listed nonfinancial firms

    Directory of Open Access Journals (Sweden)

    Liping Xu

    2017-06-01

    Full Text Available The reforms of China’s financial system have significantly changed the country’s financial sector. One noteworthy phenomenon is that many nonfinancial firms have obtained equity stakes in financial institutions. This study investigates the motivations behind and economic consequences of this recent proliferation of investments in financial institutions by nonfinancial listed firms. We find that the motivations for holding equity stakes in financial institutions include alleviating the pressure of industry competition, reducing transaction costs, and diversification to reduce risk. These investments, however, have double-edged effects on the performance of the investing firms. While their investment income increases, their operating income and overall return on assets decrease, as the investment income cannot compensate for the decrease in other operating income. The investing firms’ cost of debt also increases, their cash-holding decreases, and stock price performance does not improve after investing in financial institutions. These effects contrast with the enthusiasm nonfinancial listed firms have for investing in financial institutions. The empirical findings in this study can inform financial industry regulators and decision-makers in listed firms. We advise nonfinancial firms to be cautious when considering investing in financial institutions.

  17. Adopting De Novo Programming Approach on IC Design Service Firms Resources Integration

    Directory of Open Access Journals (Sweden)

    James K. C. Chen

    2014-01-01

    Full Text Available The semiconductor industry has very important position in computer industry, ICT field, and new electronic technology developing. The IC design service is one of key factor of semiconductor industry development. There are more than 365 IC design service firms have been established around Hsinchu Science Park in Taiwan. Building an efficient planning model for IC design service firm resources integrating is very interest issue. This study aims to construct a planning model for IC design service firm implementation resources integration. This study uses the De Novo programming as an approach of criteria alternative to achieve optimal resource allocation on IC design firm. Results show the IC design service firm should conduct open innovation concept and utilizes design outsourcing obtains cost down and enhance IC design service business performance. This plan model of De Novo programming is not only for IC design service firm and also can apply to the other industrial implementation strategic alliance/integrating resource. This plan model is a universal model for the others industries field.

  18. The Effect of Financial Performance and Environmental Performance on Firm Value with Islamic Social Reporting (ISR Disclosure as Intervening Variable in Companies Listed at Jakarta Islamic Index (JII

    Directory of Open Access Journals (Sweden)

    Ratri Rahma Frida

    2017-01-01

    Full Text Available This study examined how far ISR disclosure as the intervening variable could mediate the effect of financial performance and environmental performance on the firm value. The subjects of this study were the companies listed in Jakarta Islamic Index (JII in 2012-2014. The samples of the study were sixty companies chosen by purposive sampling method, and the analytical technic used path analysis. The results of this study proved that: (1 financial performance had positive effect to the firm value, (2 environmental performance had no effect to the firm value, (3 financial performance had positive effect to the ISR disclosure, (4 environmental performance had positive effect to the ISR disclosure, (5 ISR disclosure had positive effect to the firm value, (6 ISR disclosure could mediate the effect of financial and environmental performances on the firm value.

  19. New Opportunities for a Professional Services Firm: Building a Brand and Developing a Marketing Strategy

    Science.gov (United States)

    Smith, Rachel K.

    2013-01-01

    BD Capital Management, an investment advisory firm based in Tulsa, Oklahoma, is dedicated to providing personal, comprehensive investment services to individuals and families, pension and profit sharing plans, endowment funds, trusts, estates, and charitable organizations.

  20. Green Enterprise and Sustainability towards Business Federation in Professional Service Firms with respect to Globalization

    Directory of Open Access Journals (Sweden)

    EZENDU ARIWA

    2013-08-01

    Full Text Available We present the business federation as a new organizational form. We illustrate how professional service firms can achieve economic growth by operating locally within an international network. Within the business federation,local offices gain access to resources through an extreme form of delegation. The article illustrates how the business federation functions using five organizational design parameters. In order to achieve scale effects,information technology is essential. Information technology can be seen in relation to political struggles amongst professional service firms. In order to achieve an entrepreneurial spirit within professional service firms, we argue that a great degree of autonomy isrequired.We are of the opinion that only through radical change is it possible for professional service firms to focuson how innovation can be used as a weapon ina more complex and turbulent market place.

  1. Improving Financial Services of China's Central Bank

    Institute of Scientific and Technical Information of China (English)

    Yang Wei

    2007-01-01

    @@ On August 29,Deputy Governor of People's Bank of China,Mr.Su Ning,held a press conference at State Council Information Office,and answered questions from media.The press conference mainly focused on the progress the central bank has made in improving financial services,which raised a lot of concern from public.At the conference,Mr. Su Ning fullv illustrated that China has achieved great progress in the recent years,and would perform better in future.

  2. Regulation in a Multisectored Financial Services Industry: An Exploratory Essay

    OpenAIRE

    Jackson, Howell Edmunds

    1999-01-01

    This Article reviews differences in regulatory structure across sectors of the financial services industry in the United States and then explores the difficulties these differences pose to our current system of regulation and also to proposals for financial modernization.

  3. MULTI-MARKET INDUSTRIAL ORGANIZATIONAL ECONOMIC MODELS FOR THE INTERNATIONALIZATION PROCESS BY SMALL AND MEDIUM ENTERPRISE CONSTRUCTION DESIGN SERVICE FIRMS

    Directory of Open Access Journals (Sweden)

    Kerry London

    2010-11-01

    Full Text Available Small and medium enterprises (SMEs are critical to strategic initiatives in an economy; however, their contribution to foreign trade is not as significant. SMEs are one of the principal driving forces in economic development. One of the greatest challenges is the internationalization process for longevity rather than seeing the process as initial market entry. The internationalization process research has typically involved four key constructs: market selection, decision to enter, entry modes and factors affecting entry modes. Past research has focused on large manufacturing firms. The export of architectural, engineering and construction (AEC firms has undergone growth, yet there is still significant opportunity for further growth. The majority of AEC firms are SMEs. Notwithstanding assistance provided through international trade missions, organized export firm support networks and information packages by a burgeoning number of government agencies, there are still perceived barriers to market entry and long-term economic sustainability for SMEs. There are a number of problems faced by SMEs acting in foreign trade. This investigation explores the successful initial internationalization process constructs and identifies unique project-oriented sector characteristics. The study identified similarities and differences between two firms that have been exporting to various localities, including Eastern Europe, Africa, Middle East, UK, Asia and South America, for more than two decades. The similarities and differences were identified within eight major constructs: purpose, firm type, market image and design philosophy, entry mode strategy, institutional arrangement, factors affecting mode of entry, market selection and firm strategy in relation to project selection. The primary reasons for internationalization were associated with the firms' motivations related to growth and financial viability. This article discusses the various internationalization

  4. La copertura dei rischi finanziari nelle imprese non finanziarie italiane attraverso gli strumenti derivati (The Hedging of Financial Risks Using Derivatives by Italian Non-financial Firms

    Directory of Open Access Journals (Sweden)

    Gianluca Bison

    2002-03-01

    Full Text Available The paper deals with the use of derivatives by Italian non-financial firms, in order to analyse existing theories of hedging behaviour, and provides empirical evidence on a potential differentiation of determinants of derivative use over time. Univariate and multivariate analyses show that the determinants of derivative use reveal marked differences when compared in the different years, so they may change over time. In general, we find that the most determinant variable is foreign sales, and analysis therefore suggests the hypothesis that exposure to exchange rate risk is the strongest determinant in derivative use. Interest rate risk exposure seems to be less relevant. Moreover, from 1997, another variable proves determinant, firm size, which suggests that economies of scale could also be a key variable in derivative use. With respect to financial distress cost models, tax and agency cost theories, the results are mixed.

  5. MARKETING MIX IN FINANCIAL INVESTMENT SERVICES COMPANIES

    Directory of Open Access Journals (Sweden)

    Ioana Ancuța IANCU

    2016-05-01

    Full Text Available Given that services of Financial Investment Services Companies can be very similar (described by law, it's very important that they be distinguished by certain elements from competitors, thereby gaining market share. How can they do that? By adding value for customers. International literature offers views on creating competitive advantage considering the elements of the Marketing Mix: product, price, placement, promotion, personnel, process and physical evidence. From our experience in brokerage business, but also from our research in this field, we conclude that product and prices policies should be considered in periods of economic growth and stagnation. If in times of crisis we find no significant differences between companies (regardless of the number of products or the fees they have, in a stabilized economy, precisely this policies makes the difference between competitors.

  6. Liberalizing financial services trade in Africa: Going regional and multilateral

    OpenAIRE

    Jansen, Marion; Vennes, Yannick

    2006-01-01

    This paper analyses the possible gains from regional and multilateral liberalization of financial services trade for African countries taking into account the implications of such liberalization for financial regulation and capital account liberalization. It also describes existing efforts to integrate financial markets within four African regions (WAEMU, CEMAC, SADC and COMESA) and discusses the existing GATS commitments of the relevant countries with respect to financial services. Although ...

  7. Liberalizing financial services trade in Africa: Going regional and multilateral

    OpenAIRE

    JANSEN, Marion; Vennes, Yannick

    2006-01-01

    This paper analyses the possible gains from regional and multilateral liberalization of financial services trade for African countries taking into account the implications of such liberalization for financial regulation and capital account liberalization. It also describes existing efforts to integrate financial markets within four African regions (WAEMU, CEMAC, SADC and COMESA) and discusses the existing GATS commitments of the relevant countries with respect to financial services. Although ...

  8. Identifying neo-Schumpeterian innovation in service firms : A conceptual essay with a novel classification

    NARCIS (Netherlands)

    Flikkema, M.J.; Sluis, van der E.C. (Lidewey); Jansen, P.G.W.

    2007-01-01

    The identification of innovation in service firms is problematic since there is no consensus of opinion on its conceptualization. Recent papers suggest both distinctive features of innovation in services and distinctive types of service innovation. This article reviews and evaluates these findings f

  9. Identifying neo-Schumpeterian innovation in service firms : A conceptual essay with a novel classification

    NARCIS (Netherlands)

    Flikkema, M.J.; Sluis, van der E.C. (Lidewey); Jansen, P.G.W.

    2007-01-01

    The identification of innovation in service firms is problematic since there is no consensus of opinion on its conceptualization. Recent papers suggest both distinctive features of innovation in services and distinctive types of service innovation. This article reviews and evaluates these findings

  10. Customer Service/Account Representative. Teacher Edition. Financial Services Series.

    Science.gov (United States)

    Oklahoma State Dept. of Vocational and Technical Education, Stillwater. Curriculum and Instructional Materials Center.

    This curriculum guide is designed for 11th- and 12th-grade students or for adults who are interested in pursuing a career in the financial institution field. It can be used as a stand-alone curriculum for an entry-level career as a customer service/account representative. The guide consists of four units of instruction. Each unit contains some or…

  11. On the (dis)ability of the firm to quantify chains : a marketing prespective on sharing financial rewards

    OpenAIRE

    Ingenbleek, P.T.M.

    2005-01-01

    Although the marketing discipline originates from agricultural economics, it currently moves to a new logic that is marked by, among other things, customer value, customer satisfaction, rationships, market orientation and resource-based theories. This article uses this evolving logic in marketing to examine the problem of sharing financial rewards in agricultural supply chains. Building on resourceadvantage theory it is suggested that the potential reward that firms may derive from participat...

  12. La copertura dei rischi finanziari nelle imprese non finanziarie italiane attraverso gli strumenti derivati (The Hedging of Financial Risks Using Derivatives by Italian Non-financial Firms

    Directory of Open Access Journals (Sweden)

    Gianluca Bison

    2012-04-01

    Full Text Available The paper deals with the use of derivatives by Italian non-financial firms, in order to analyse existing theories of hedging behaviour, and provides empirical evidence on a potential differentiation of determinants of derivative use over time. Univariate and multivariate analyses show that the determinants of derivative use reveal marked differences when compared in the different years, so they may change over time. In general, we find that the most determinant variable is foreign sales, and analysis therefore suggests the hypothesis that exposure to exchange rate risk is the strongest determinant in derivative use. Interest rate risk exposure seems to be less relevant. Moreover, from 1997, another variable proves determinant, firm size, which suggests that economies of scale could also be a key variable in derivative use. With respect to financial distress cost models, tax and agency cost theories, the results are mixed.           JEL Codes: G11, G31, G32, F31Keywords: Financial Risk, Firm, Hedging        

  13. 75 FR 35289 - International Services Surveys: BE-180, Benchmark Survey of Financial Services Transactions...

    Science.gov (United States)

    2010-06-22

    ...; other financial investment activities (including miscellaneous intermediation, portfolio management, investment advice, and all other financial investment activities); insurance carriers; insurance agencies... 15 CFR Part 801 RIN 0691-AA73 International Services Surveys: BE-180, Benchmark Survey of Financial...

  14. Offshoring in the service sector : An empirical investigation on the offshoring behavior of service firms and its influence on their foreign entry mode choice

    NARCIS (Netherlands)

    Gorp, van D.M.

    2010-01-01

    This study is focused on the offshoring behavior of service firms. It provides a decision-making model for service firms regarding their choice for captive offshoring or offshore outsourcing when relocating their activities to foreign locations. Service firms are taken as the focus of this study bec

  15. 75 FR 42486 - Financial Management Service; Proposed Collection of Information: Authorization Agreement for...

    Science.gov (United States)

    2010-07-21

    ... Fiscal Service Financial Management Service; Proposed Collection of Information: Authorization Agreement for Preauthorized Payment (SF 5510) AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice and request for comments. SUMMARY: The Financial Management Service, as part of its...

  16. 77 FR 30050 - Financial Management Service Proposed Collection of Information: Resolution Authorizing Execution...

    Science.gov (United States)

    2012-05-21

    ... Fiscal Service Financial Management Service Proposed Collection of Information: Resolution Authorizing... Collateral Agreement AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice and request for comments. SUMMARY: The Financial Management Service, as part of its continuing effort to...

  17. 78 FR 15123 - Financial Management Service; Proposed Collection of Information: Accountable Official...

    Science.gov (United States)

    2013-03-08

    ... Fiscal Service Financial Management Service; Proposed Collection of Information: Accountable Official... Management Service, Fiscal Service, Treasury. ACTION: Notice and Request for comments. SUMMARY: The Financial.... ADDRESSES: Direct all written comments to Financial Management Service, Records and Information Management...

  18. 77 FR 43428 - Financial Management Service; Proposed Collection of Information: Minority Bank Deposit Program...

    Science.gov (United States)

    2012-07-24

    ... Fiscal Service Financial Management Service; Proposed Collection of Information: Minority Bank Deposit Program (MBDP) Certification Form for Admission AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice and Request for comments. SUMMARY: The Financial Management Service, as part of...

  19. 75 FR 4451 - Financial Management Service; Proposed Collection of Information: Final Rule-Management of...

    Science.gov (United States)

    2010-01-27

    ... Fiscal Service Financial Management Service; Proposed Collection of Information: Final Rule--Management of Federal Agency Disbursements. AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice and Request for comments. SUMMARY: The Financial Management Service, as part of its...

  20. 77 FR 71035 - Financial Management Service; Proposed Collection of Information: Electronic Funds Transfer (EFT...

    Science.gov (United States)

    2012-11-28

    ... Fiscal Service Financial Management Service; Proposed Collection of Information: Electronic Funds Transfer (EFT) Market Research Study AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice and Request for comments. SUMMARY: The Financial Management Service, as part of its continuing...

  1. A Study of the Effectiveness of Postal Financial Assets Services

    Institute of Scientific and Technical Information of China (English)

    2002-01-01

    Based on the theory of bank management, the article analyses the operating principles of postal financial assets service; selects and divides different kinds of postal financial assets services; dissects their economic and comprehensive results; furthermore, and gives examples of different assets combinations according to the development of the services.

  2. Relationship between Corporate Social Responsibility and Financial Performance in the Mineral Industry: Evidence from Chinese Mineral Firms

    Directory of Open Access Journals (Sweden)

    Xiping Pan

    2014-06-01

    Full Text Available This paper examines the relationship between Corporate Social Responsibility (CSR and Corporate Financial Performance (CFP using panel data for 228 Chinese mineral listed firms from 2010 to 2013 with Pooled Least Squares regression analysis. Our study considers five different sublevel CSR issues—shareholder responsibility, employee responsibility, environmental responsibility, public responsibility, and supplier, customer and consumer responsibility—in capturing the effects of CSR elements on CFP. The estimation results show the different effects of each sublevel CSR issue on CFP. Overall, shareholder, employee responsibility, environmental responsibility, supplier, customer and consumer responsibility have significant relationships with CFP, which are the stakeholders who have the closest linkage with firm operations. Meanwhile, public responsibility outside the firm does not show significant interaction with CFP, which is why many mineral firms ignore the public interest and this leads to conflicts. Shareholder responsibility has the most significant positive effect on CFP. Supplier, customer and consumer responsibility and environmental responsibility usually have negative effects on CFP as costs increase. Moreover, all 228 listed mineral firms that were selected in this paper have been classified into five sub-sectors: the extractive industry, metal fabrication industry, oil and gas industry, gas and water-related industry, and oil-producing equipment industry, based on the Industry Classification Benchmark (ICB. Our study shows that the differences in the relationship between CSR and CFP for five sublevel industries are due to industry characteristics. If the government wants to solve these conflicts and positively encourage firms to adopt CSR, it is necessary to create a mining development environment whereby firm profits are closely tied to CSR.

  3. 45 CFR 304.22 - Federal financial participation in purchased support enforcement services.

    Science.gov (United States)

    2010-10-01

    ... FAMILIES, DEPARTMENT OF HEALTH AND HUMAN SERVICES FEDERAL FINANCIAL PARTICIPATION § 304.22 Federal financial participation in purchased support enforcement services. Federal financial participation is.... Support enforcement services which may be purchased with Federal financial participation are those...

  4. 76 FR 63351 - Senior Executive Service; Financial Management Service Performance Review Board (PRB)

    Science.gov (United States)

    2011-10-12

    ... Doc No: 2011-25929] DEPARTMENT OF THE TREASURY Senior Executive Service; Financial Management Service Performance Review Board (PRB) AGENCY: Financial Management Service, Treasury. ACTION: Notice. SUMMARY: This notice announces the appointment of members to the Financial Management Service (FMS) Performance...

  5. Accounting Firms: Global Spread with Limited Transnationalization

    OpenAIRE

    Jochen Zimmermann; Jan-Christoph Volckmer

    2012-01-01

    As financial markets have increasingly globalised, the regulatory framework is still nationally fragmented. One core regulatory element is the provision of assurance services by accounting firms. The Big 4 - the leading international providers of audit services Ð are not as international as are accounting standards or their clients. The paper traces three facets of the transnationalization of accounting firms: explanations for internationalization rooted in the theory of the firm, their modes...

  6. Strategies for Designing and Developing Services for Manufacturing Firms

    DEFF Research Database (Denmark)

    Tan, Adrian Ronald; Matzen, Detlef; McAloone, Tim C.

    2010-01-01

    Product/service-systems (PSS) are in effect an approach to designing integrated products and services with a focus on both customer- and product life cycleactivities . Literature offers a range of service-oriented design strategies from product-oriented DfX approaches to more customer......-oriented approaches such as integrated solutions and service design. These design strategies are mapped out in relation to how applicable they are to different types of services. Case studies from two industrial companies are used to confront the existing literature in order to improve understanding of how...... manufacturing companies may align their product and service development activities with their business strategies....

  7. The Effect of the Big Eight Accounting Firm Mergers on the Market for Audit Services.

    OpenAIRE

    Sullivan, Mary W

    2002-01-01

    The research assesses whether the two Big Eight mergers of 1989 were anticompetitive or efficiency enhancing. The study determines how a merger would affect the merged firm's probability of winning an auction to supply audit services under four different merger theories. A data set of 1,978 firms over a 12-year period is constructed to test these theories. The main conclusion of the analysis is that the Big Eight mergers of 1989 resulted in cost reductions that benefited relatively large audi...

  8. THE MEASUREMENT OF SERVICE QUALITY WITH SERVQUAL FOR DIFFERENT DOMESTIC AIRLINE FIRMS IN TURKEY

    Directory of Open Access Journals (Sweden)

    Kenan Aydin

    2012-11-01

    Full Text Available The primary purpose of this research is to determine whether there is a significant differencebetween the passengers’ service quality expectations and service quality perceptions in differentairline firms. The collateral purpose is to find out whether there is a significant difference betweenservice quality expectation and service quality perception of the passengers who have differentsocio-demographic characteristics. To achieve these purposes, the 5 - dimensional scale, suggestedby Parasuraman et.al (1988 was applied to the airline travel sector. The questionnaire was used ininterviewing the passengers at Sabiha Gökçen Airport in Istanbul in Turkey with a “face to face”method. The data was analysed in SPSS 16 program after questionnnaires were collected. Firstly, thedemographic characteristics of passengers were presented for different airline firms. Then the highestand the lowest gaps for the each statement was determined. Lastly it was compared if there was asignificant difference between the service quality expectation and perception for different domesticairline firms.

  9. ON THE THREAT OF SUPPLIERS FOR THE ENGINEERING CONSULTING AND DESIGN SERVICES FIRMS

    Directory of Open Access Journals (Sweden)

    Gabriel Sorin STROE

    2014-06-01

    Full Text Available In the case of companies from engineering consulting and design services industry the classic models of analysis (e.g. Porter's five forces for structural analysis exhibit interesting aspects in comparison with the situation when applied to traditional services or industrial production firms, due to the distinctive characteristics of the industry. The purpose of this paper is to present a general overview of the engineering consulting and design industry also analyze different facets of the suppliers concept and their force and threat for the engineering services firms. The paper aims at analyzing the dual strategic role of aspecial type of suppliers for the engineering companies.

  10. Comparison of Design Research on Manufacturing Firms Moving Towards Services

    DEFF Research Database (Denmark)

    Matzen, Detlef; Sakao, Tomohiko; Sandström, Gunilla Ölundh

    2007-01-01

    Corresponding to a steadily advancing integration of roducts and service operations in the manufacturing industry, a number of research groups within the design community are working with issues of integrated product and service development. Although closely related, the evolving groups focus...... contribution areas of three of the existing groups, namely the groups of Integrated Product and Service Engineering, Service/Product Engineering and Product/Service-System development. A review of the groups’ research contributions is carried out and the main characteristics’ of their research is compared...

  11. 20 CFR 654.8 - Services to firms and individuals in labor surplus areas.

    Science.gov (United States)

    2010-04-01

    ... initiation of industrial expansion programs in labor surplus areas; (b) Identify upon request the skills and... 20 Employees' Benefits 3 2010-04-01 2010-04-01 false Services to firms and individuals in labor... OF LABOR SPECIAL RESPONSIBILITIES OF THE EMPLOYMENT SERVICE SYSTEM Responsibilities Under Executive...

  12. Impact of positioning strategies on service firm performance

    National Research Council Canada - National Science Library

    Blankson, Charles; Crawford, John C

    .... "Branding", "service", "value for money" and, to a lesser extent, "reliability" and "attractiveness" positioning strategies emerge as the most dominant positioning strategies, although emphasis...

  13. Cutting costs in your own backyard: opportunities in financial services.

    Science.gov (United States)

    van Londen, Jan; Zimmerman, Paul

    2012-03-01

    Hospitals looking to reduce cost and improve performance in financial services should focus on these areas: Treasury banking services costs and fees. The possibility of a revenue-generating vendor payment solution. The accounts payable process.

  14. ASSESSING THE NON-FINANCIAL PREDICTORS OF THE SUCCESS AND FAILURE OF YOUNG FIRMS IN THE NETHERLANDS

    Directory of Open Access Journals (Sweden)

    Philip VERGAUWEN

    2005-01-01

    Full Text Available In this study, the Lussier (1995 success and failure prediction model is improved and tested on asample of Dutch firms. Besides clearly defining a specific business plan, work experience is added asa variable, and contrary to previous researches, the discrete variables are dealt with appropriate thistime. The results of this improved model show that product/service timing, planning, managementexperience, knowledge of marketing, economic timing, professional advice, and having a businesspartner are predictors of success and failure for young firms in the Netherlands.

  15. Improving processes in financial service organizations: where to begin?

    NARCIS (Netherlands)

    J. Lokkerbol; R.J.M.M. Does; J. de Mast; M. Schoonhoven

    2012-01-01

    Purpose - The purpose of this paper is to create actionable knowledge, thereby supporting and stimulating practitioners to improve processes in the financial services sector. Design/methodology/approach - This paper is based on a case base of improvement projects in financial service organizations.

  16. Improving processes in financial service organizations: where to begin?

    NARCIS (Netherlands)

    Lokkerbol, J.; Does, R.J.M.M.; de Mast, J.; Schoonhoven, M.

    2012-01-01

    Purpose - The purpose of this paper is to create actionable knowledge, thereby supporting and stimulating practitioners to improve processes in the financial services sector. Design/methodology/approach - This paper is based on a case base of improvement projects in financial service organizations.

  17. Globalisation/regionalisation of accounting firms and their sustainability services

    NARCIS (Netherlands)

    Kolk, A.; Margineantu, A.

    2009-01-01

    Purpose - The debate about global integration (standardisation) versus responsiveness (adaptation) has recently been supplemented with perspectives that emphasise regionalisation. And while the discussion has also been extended from manufacturing to services, there are specific sectors and emergent

  18. Globalisation/regionalisation of accounting firms and their sustainability services

    NARCIS (Netherlands)

    Kolk, A.; Margineantu, A.

    2009-01-01

    Purpose - The debate about global integration (standardisation) versus responsiveness (adaptation) has recently been supplemented with perspectives that emphasise regionalisation. And while the discussion has also been extended from manufacturing to services, there are specific sectors and emergent

  19. In Search of New Relationship between Internationalization and Firm Performance: A ‘Test of Concept’ Based on Financial Statement Data from Austrian-Listed Companies

    DEFF Research Database (Denmark)

    Wehrmann, Carsten; Turcan, Romeo V.

    diversification. Following the above criticism, this paper provides a different way of measuring the impact of internationalization on firm performance. The group comparison of multi-national and international companies based on financial data show that the reasons for internationalization are not cost advantages......This paper aims to explore the issue of inconsistent relationship between firm internationalization and firm performance in IB research. Recent meta-analysis of empirical internationalization research on the relationship between internationalization and firm performance shows no consensus about...

  20. THE ROLE OF EFFICIENCY AS MEDIATOR FOR THE INFLUENCE OF FIRM SIZE ON FINANCIAL PERFORMANCE OF BANKING THAT DO MERGER AND ACQUISITION IN INDONESIA

    Directory of Open Access Journals (Sweden)

    Purbosanjoyo P.

    2017-07-01

    Full Text Available Banking in Indonesia has experienced a difficult period since the financial crisis in 1997 that directly or indirectly affected the banking sector. Many private banks have to be liquidated. The banking industry has decreased and stagnated due to many problems, such as decreased profitability, lack of capital and non-performing loans. National banks consolidate to improve financial performance, one of the ways to do is to merge and acquire. This study aims to test and prove empirically banks that do mergers and acquisitions: (1 Does firm size directly affect the efficiency and financial performance. (2 Whether efficiency directly affects financial performance (3 Does firm size indirectly affect financial performance mediated by efficiency. Theoretically, the result of this research is expected to enrich and complete the repertoire of science in the field of management science, especially the theory of financial management of banking, so it can be useful for academics and practitioners. The number of commercial banks in Indonesia reached 118 banks. The population of this research is commercial banks that merged and acquired post-1997 economic crisis until 2010. The sample of the study was taken from all banks that merged and acquired as many as 14 banks. Sampling using saturated sampling method (census. The design of this research using explanatory approach. Data analysis method used in hypothesis testing is path analysis and using Structural Equation Model analysis tool with WarpPLS 5.0 program. The results of this research indicate that: (1 The firm size directly affects the efficiency, but does not directly affect the financial performance. (2 efficiency directly affects financial performance. (3 The firm size indirectly affect the financial performance is mediated by efficiency. The conclusion of this research is efficiency has a dominant role to improve financial performance, while the novelty of this research is entering efficiency as

  1. Italian Manufacturing and Service Firms Labor Productivity: a Longitudinal Quantile Regression Analysis

    Directory of Open Access Journals (Sweden)

    Margherita Velucchi

    2014-09-01

    Full Text Available Labor productivity is very complex to analyze across time, sectors and countries. In particular, in Italy, labor productivity has shown a prolonged slowdown but sector analyses highlight the presence of specific niches that have good levels of productivity and performance. This paper investigates how firms' characteristics might have affected the dynamics of the Italian service and manufacturing firms labor productivity in recent years (1998-2007, comparing them and focusing on some relevant sectors. We use a micro level original panel from the Italian National Institute of Statistics (ISTAT and a longitudinal quantile regression approach that allow us to show that labor productivity is highly heterogeneous across sectors and that the links between labor productivity and firms' characteristics are not constant across quantiles. We show that average estimates obtained via GLS do not capture the complex dynamics and heterogeneity of the service and manufacturing firms' labor productivity. Using this approach, we show that innovativeness and human capital, in particular, have a very strong impact on fostering labor productivity of lower productive firms. From the sector analysis on four service' sectors (restaurants & hotels, trade distributors, trade shops and legal & accountants we show that heterogeneity is more intense at a sector level and we derive some common features that may be useful in terms of policy implications.

  2. STRENGTHENING THE SUPERVISION OF MARKET CONDUCT OF BANKING FINANCIAL SERVICES BY FINANCIAL SERVICE AUTHORITY (OJK IN CENTRAL JAVA

    Directory of Open Access Journals (Sweden)

    . Sulistyandari

    2017-02-01

    Full Text Available This study aims to assess and find weaknesses regulation and supervision of market conduct banking financial services, and find weaknesses supervision of market conduct banking financial services in the region of Central Java and offer for solutions. The results show that Financial Service Authority/FSA (known as OJK Law  and POJK No.01/POJK.07/ 2013 are the governing authority of the OJK under the supervision of market conduct financial services. Until present, BI Law and Banking Law have not set about it. In the future market surveillance authorities conduct financial services under the authority of BI and the OJK, these two institutions share in accordance with the authority given to legislation. Supervision of market conduct banking financial services by the OJK overall is only implemented by the Office of Central OJK. While the OJK in Central Java has new obligations education and service consumer complaints so the protection of consumers of financial services has not been optimally implemented at the Central Java OJK office. Keywords : financial market conduct, OJK, supervision

  3. 78 FR 5166 - BE-185: Quarterly Survey of Financial Services Transactions Between U.S. Financial Services...

    Science.gov (United States)

    2013-01-24

    ... Bureau of Economic Analysis XRIN 0691-XC009 BE-185: Quarterly Survey of Financial Services Transactions Between U.S. Financial Services Providers and Foreign Persons AGENCY: Bureau of Economic Analysis... Analysis (BEA), Department of Commerce, is informing the public that it is conducting the mandatory...

  4. Differences in adaptations between service and manufacturing firms

    Directory of Open Access Journals (Sweden)

    Melita Rant

    2007-12-01

    Full Text Available This paper studies the differences in adaptation to the environment of service, mixed, and manufacturing companies. Adaptations are contingent on the characteristics of the environment and technology. By them, companies try to manage environmental uncertainties. The latter are subjectively perceived amplifications of small scale multi-level, lagged, nested, and nonlinear changes. Companies intend to manage perceived environmental uncertainties. They facilitate adaptations that either reduce environmental uncertainties or make an efficient reaction to unexpected external developments possible. First type of adaptations is explained by resource dependence theory transaction-cost economics: the second one is explained by contingency theory. Strategic choice theory incorporates both types of adaptations. On the grounds of those four theoretical perspectives, we constructed a research model of organizational adaptations to environmental change. The focus is on exploration of differences in adaptations among service, mixed, and manufacturing companies. Organizational adaptations are studied from internal as well as external perspective. Research is based on a survey conducted on the sample of 236 medium and large companies in the period 2000–2005 in Slovenia. Findings confirmed that companies with different technology adapt differently. Mixed companies adapt mainly through external relationships, manufacturing companies adapt mainly internally, while service companies use both types of adaptations in congruent proportions. Adaptations of mixed companies are best explained by resource dependence theory, adaptations of manufacturing companies by environmental contingency theory, and adaptations of service companies are best explained by strategic choice theory.

  5. Financial services with a special review of insurance services

    Directory of Open Access Journals (Sweden)

    Labudović Jasmina D.

    2004-01-01

    Full Text Available The aim of this paper is to point out certain characteristics of insurance market as a specific segment of financial services market. One of the characteristics of this market is the cost of insurance as differentia specific. The model presented in this paper shows how the insurer who is informed about the takeover risk can influence the cost of insurance. The development of insurance market indicates the development of national economies and the living standards. The data about the premium per capita national income per capita, the size of GDP and the number of citizens in different regions contain very interesting information. Processes of transition and macroeconomic reforms have led to a faster development of insurance in ex-socialist countries.

  6. 75 FR 19986 - Revision of Agency Information Collection for Financial Assistance and Social Services

    Science.gov (United States)

    2010-04-16

    ... the information collection, titled ``Financial Assistance & Social Services, 25 CFR 20.'' The... part 20 to eligible Indians when comparable financial assistance or social services either are not... application form was revised to include all Financial Assistance and Social Service components...

  7. 76 FR 54998 - Request for Information on Consumer Financial Products and Services Offered to Servicemembers

    Science.gov (United States)

    2011-09-06

    ... Services Offered to Servicemembers AGENCY: Bureau of Consumer Financial Protection. ACTION: Notice and..., regarding consumer protection measures relating to consumer financial products and services offered to, or... Servicemember Affairs seeks information on consumer financial products and services that are currently...

  8. The influence of reporting standards and inter-firm relationships on financial reporting

    NARCIS (Netherlands)

    Leung, P.Y.E.

    2013-01-01

    Accounting information is vital for many aspects in business and numerous parties rely on reported information for a variety of purposes. Understanding how factors in a firm’s environment, such as standard setting, inter-firm relationships, managerial incentives and capital providers, influence the

  9. The influence of reporting standards and inter-firm relationships on financial reporting

    NARCIS (Netherlands)

    Leung, P.Y.E.

    2013-01-01

    Accounting information is vital for many aspects in business and numerous parties rely on reported information for a variety of purposes. Understanding how factors in a firm’s environment, such as standard setting, inter-firm relationships, managerial incentives and capital providers, influence the

  10. 77 FR 27021 - Proposed Information Collection; Comment Request; Quarterly Survey of Financial Services...

    Science.gov (United States)

    2012-05-08

    ... Financial Services Transactions Between U.S. Financial Services Providers and Foreign Persons AGENCY: Bureau... INFORMATION: I. Abstract Form BE-185, Quarterly Survey of Financial Services Transactions between U.S. Financial Services Providers and Foreign Persons, obtains quarterly data from U.S. financial...

  11. THE INVOLVEMENT OF BANKERS IN THE CORPORATE GOVERNANCE OF NON-FINANCIAL FIRMS

    Directory of Open Access Journals (Sweden)

    RADU CRISTIAN MUȘETESCU

    2012-11-01

    Full Text Available The core instability generated by a fractional-reserve banking system provides strong incentives for commercial banks to control the financial operations of large depositors as well as to supply financial support and even take the initiative towards the concentration of the industrial entities. Such an argument provides fresh insights regarding the historical trend of economic consolidations at the end of the XIXth century as well as what has been called financial capitalism. It argues that all the subsequent regulatory reactions missed a significant cause of the phenomenon ofbusiness consolidation in the global economy.

  12. Aesthetic Design as an Element of Service Innovation in New Technology-based Firms

    OpenAIRE

    Candi, Marina

    2008-01-01

    The goals of this thesis are to examine new technology-based firms’ use of aesthetic design as an element of service innovation and to explore potential relationships between aesthetic design and performance in this same context. There is a scarcity of research on aesthetic design as an element of service innovation, particularly in new technology-based firms. Because of this scarcity, a hybrid research strategy is appropriate and the empirical basis for this research encompasses multiple cas...

  13. Impact of Customer Retention Practices on Firm Performance

    OpenAIRE

    K. Gengeswari; P. Padmashantini; S.A. Sharmeela-Banu

    2013-01-01

    Customer retention has become the buzzword among both practitioners and academics due to its significant impact towards the improvement in firm performance. Though firm performance is normally evaluated using financial measures, this paper has utilized non-financial measure i.e. customer satisfaction. This is due to the appropriateness of its application to measure performance of service-oriented (retail) firms. This study was conducted using mall-intercept surveys at AEON Perak, Malaysia whe...

  14. Values of financial services professionals and the global financial crisis as a crisis of ethics

    NARCIS (Netherlands)

    Hoorn, André van

    2013-01-01

    Many attribute the global financial crisis (GFC) to the ethical values of the people involved, financial services professionals (FSPs) such as stockbrokers or fund managers. The crisis-of-ethics debate is important, concerning one of the main policy challenges of our times, but is based on popular

  15. Values of financial services professionals and the global financial crisis as a crisis of ethics

    NARCIS (Netherlands)

    Hoorn, André van

    2013-01-01

    Many attribute the global financial crisis (GFC) to the ethical values of the people involved, financial services professionals (FSPs) such as stockbrokers or fund managers. The crisis-of-ethics debate is important, concerning one of the main policy challenges of our times, but is based on popular l

  16. Implications of Overseas Farmland Financial Development for Financial Service Innovation in China’s Rural Areas

    Institute of Scientific and Technical Information of China (English)

    Jicheng; SU; Hongjuan; LI

    2015-01-01

    Currently,there are many problems requiring to be solved urgently in the rural economic development in China,including farmers’ difficulties in getting loans,difficulties in agricultural financing of small and medium-sized enterprises,disconnection of funds chain and serious information asymmetry.The roots of these problems are inadequate financial support and single as well as backward service pattern.The development of rural economy and improvement of farmers’ life depend in large measure upon rural financial service system.Rural financial business system in western developed countries mainly consists of policy finance,cooperative finance and commercial finance[1].Development of land finance provides powerful fund circulation for rural finance.Western countries have relatively advanced legal systems and policies for rural financial support with land mortgage and land guarantee as the main methods,which can be used as reference,such as construction of rural financial system,innovation of rural financial service as well as supervision and control of rural financial risks.Through introducing relevant features of foreign farmland finance,this article discusses service innovation in the reform of China’s rural financial system.

  17. Ohio Financial Services and Risk Management. Technical Competency Profile (TCP).

    Science.gov (United States)

    Ray, Gayl M.; Wilson, Nick; Mangini, Rick

    This document describes the essential competencies from secondary through post-secondary associate degree programs for a career in financial services and risk management. Ohio College Tech Prep Program standards are described, and a key to profile codes is provided. Sample occupations in this career area, such as financial accountant, loan…

  18. Trade in Financial Services: Procompetitive Effects and Growth Performance

    NARCIS (Netherlands)

    J.F. François (Joseph); L. Schuknecht

    1999-01-01

    textabstractIn this paper we explore linkages between financial services trade and growth. We offer a formalization of the argument that trade, through the fostering of financial market integration, may yield important long-run effects related to increased competition. The relationships formalized h

  19. Regulating Robo Advice across the Financial Services Industry

    NARCIS (Netherlands)

    T. Baker (Tom); B.G.C. Dellaert (Benedict)

    2017-01-01

    textabstractAutomated financial product advisors – “robo advisors” – are emerging across the financial services industry, helping consumers choose investments, banking products, and insurance policies. Robo advisors have the potential to lower the cost and increase the quality and transparency of fi

  20. ethiopia's wto accession and financial services liberalization

    African Journals Online (AJOL)

    TilahunEK

    2002-02-21

    Feb 21, 2002 ... Trade Organization Economic Research and Analysis Division, Staff ...... constitutes a liberalization proposal without incurring any cost.65 ...... financial system against contagion and the GATS do not prescribe and impose.

  1. Do Services differ from Manufacturing? The Post-Entry Performance of Firms in Dutch Services

    NARCIS (Netherlands)

    D.B. Audretsch (David); L. Klomp (Luuk); A.R. Thurik (Roy)

    1998-01-01

    textabstractA large literature has emerged focusing on the post-entry performance of firms and, in particular, on the links between firm growth, survival, size and age. While these studies have resulted in findings that are sufficiently consistent as to constitute Stylized Facts, virtually all of

  2. A study on relationship between firm's financial performance and immediate and long-term stock return

    Directory of Open Access Journals (Sweden)

    Mohamad Sirani

    2013-08-01

    Full Text Available Previous studies show investors’ overreaction towards firms past performance. In fact, investors overvalue past winners and undervalue past losers. However, when their expectations do not come true, stock prices return to their fair values. This study investigates investors’ overreaction in Tehran Stock Exchange in three steps. Using a five-year period data collected from Tehran Stock Exchange (TSE, we evaluate portfolio performance and analyze them based on a sample of 70 firms selected from this exchange and, using Pearson correlation as well as regression analysis, examine the effects of past performance on price appreciation. The preliminary results indicate that TSE investors normally overreact to sale, quality of sale, operating profit, quality of profit, cash flow and stock return, significantly.

  3. Improving Financial Service Delivery to Communities through Micro ...

    African Journals Online (AJOL)

    Improving Financial Service Delivery to Communities through Micro-finance ... This study examined the design of a target Enterprise Architecture (EA) that can ... business processes, information/data, applications, actors, and technological ...

  4. Mixing the grant cocktail: towards an understanding of the outcomes of financial support to small firms

    OpenAIRE

    Seamus McGuinness; Mark Hart

    2004-01-01

    One of the key policy objectives of government at national and regional level, is to overcome the constraints preventing local industry achieving greater competitiveness in the international marketplace. This paper examines the impact of grant assistance to Northern Ireland small firms delivered over the period 1994 - 97 by the former Local Enterprise Development Unit through its Growth Business Support Programme (GBSP). Previous work by the authors showed that there was some tentative eviden...

  5. An Analysis of the Field Service Function of Selected Electronics Firms

    Science.gov (United States)

    1992-01-01

    practices into their business operations. Importance of Study--Researchers As with the service sector in general, little research has been undertaken in...developed SERVQUAL , a multiple item scale for measuring customer perceptions of service quality. The 32 previously identified quality dimensions were...retail, financial, commercial, industrial, health care, education , and government sectors . The worldwide organization includes 2 microelectronics

  6. Analysis of potential self-guarantee tests for demonstrating financial assurance by non-profit colleges, universities, and hospitals and by business firms that do not issue bonds

    Energy Technology Data Exchange (ETDEWEB)

    Bailey, P.; Dean, C.; Collier, J.; Dasappa, V.; Goldberg, W. [ICF, Inc., Fairfax, VA (United States)

    1997-06-01

    The Nuclear Regulatory Commission (NRC) on December 29, 1993, promulgated self-guarantee requirements that materials licensees may use to demonstrate financial assurance for decommissioning costs. However, nonprofit colleges and universities, nonprofit hospitals, and for-profit firms that do not issue bonds are currently precluded, by their unique accounting and financial reporting systems, or by other features of their business practices, from using the financial tests for self-guarantors adopted by the NRC. This Report evaluates several alternative financial tests that might serve as the basis for self-guarantee by these three categories of licensees.

  7. Organizational Performance, Marketing Strategy, and Financial Strategic Alignment: an Empirical Study on Iranian Pharmaceutical Firms

    Directory of Open Access Journals (Sweden)

    Mehdi Mohammadzadeh

    2013-08-01

    Full Text Available Background:Strategic Functional-level planning should be aligned with business level and other functional strategies of a company. It is presumed that assimilating the strategies could have positive contribution to business performance, in this regard alignment between marketing strategy and financial strategy seems to be the most important strategies being studied. An empirical work in generic pharmaceutical manufacturing companies for evaluating effect of alignment between these two functions on organizational performance was developed in this paper.Methods:All Iranian pharmaceutical generic manufactures listed in Tehran stock market have been tested for period of five years between 2006--2010 and their marketing strategies were determined by using Slater and Olson taxonomy and their financial strategies have been developed by calculating total risk and total return of sample companies for five years based on rate of risk and return in the frame of a 2 x 2 matrix. For the business performance three profitability indices including Q-Tubin (Rate of market value to net asset value, ROA (Return on Asset, ROE (Return on Equity have been tested. For analysis, a series of one-way ANOVAs as a collection of statistical models within marketing strategies considering financial strategy as independent variable and the three performance measures as dependent variables was used.Results:Results show strategic alignment between financial and marketing has significant impact on profitability of company resulting in arise of all three profitability indices. Q tubing's rate were 2.33,2.09,2.29,2.58 and rate of ROA were 0.21,0.194,0.25,0.22 and rate of ROE were 0.44,0.46,0.45,0.42 for matched strategy types, respectively the rates shown here are more than average meaning that specific type of marketing strategy is fitted with specific type of financial strategy.Conclusion:Managers should not consider decisions regarding marketing strategy independently of their

  8. Organizational performance, Marketing strategy, and Financial strategic alignment: an empirical study on Iranian pharmaceutical firms.

    Science.gov (United States)

    Mohammadzadeh, Mehdi; Aarabi, Sied Mohammad; Salamzadeh, Jamshid

    2013-08-02

    Strategic Functional-level planning should be aligned with business level and other functional strategies of a company. It is presumed that assimilating the strategies could have positive contribution to business performance, in this regard alignment between marketing strategy and financial strategy seems to be the most important strategies being studied. An empirical work in generic pharmaceutical manufacturing companies for evaluating effect of alignment between these two functions on organizational performance was developed in this paper. All Iranian pharmaceutical generic manufactures listed in Tehran stock market have been tested for period of five years between 2006-2010 and their marketing strategies were determined by using Slater and Olson taxonomy and their financial strategies have been developed by calculating total risk and total return of sample companies for five years based on rate of risk and return in the frame of a 2 × 2 matrix. For the business performance three profitability indices including Q-Tubin (Rate of market value to net asset value), ROA (Return on Asset), ROE (Return on Equity) have been tested. For analysis, a series of one-way ANOVAs as a collection of statistical models within marketing strategies considering financial strategy as independent variable and the three performance measures as dependent variables was used. Results show strategic alignment between financial and marketing has significant impact on profitability of company resulting in arise of all three profitability indices. Q tubing's rate were 2.33,2.09,2.29,2.58 and rate of ROA were 0.21,0.194,0.25,0.22 and rate of ROE were 0.44,0.46,0.45,0.42 for matched strategy types, respectively the rates shown here are more than average meaning that specific type of marketing strategy is fitted with specific type of financial strategy. Managers should not consider decisions regarding marketing strategy independently of their financial strategy.

  9. Organizational performance, Marketing strategy, and Financial strategic alignment: an empirical study on Iranian pharmaceutical firms

    Science.gov (United States)

    2013-01-01

    Background Strategic Functional-level planning should be aligned with business level and other functional strategies of a company. It is presumed that assimilating the strategies could have positive contribution to business performance, in this regard alignment between marketing strategy and financial strategy seems to be the most important strategies being studied. An empirical work in generic pharmaceutical manufacturing companies for evaluating effect of alignment between these two functions on organizational performance was developed in this paper. Methods All Iranian pharmaceutical generic manufactures listed in Tehran stock market have been tested for period of five years between 2006–2010 and their marketing strategies were determined by using Slater and Olson taxonomy and their financial strategies have been developed by calculating total risk and total return of sample companies for five years based on rate of risk and return in the frame of a 2 × 2 matrix. For the business performance three profitability indices including Q-Tubin (Rate of market value to net asset value), ROA (Return on Asset), ROE (Return on Equity) have been tested. For analysis, a series of one-way ANOVAs as a collection of statistical models within marketing strategies considering financial strategy as independent variable and the three performance measures as dependent variables was used. Results Results show strategic alignment between financial and marketing has significant impact on profitability of company resulting in arise of all three profitability indices. Q tubing’s rate were 2.33,2.09,2.29,2.58 and rate of ROA were 0.21,0.194,0.25,0.22 and rate of ROE were 0.44,0.46,0.45,0.42 for matched strategy types, respectively the rates shown here are more than average meaning that specific type of marketing strategy is fitted with specific type of financial strategy. Conclusion Managers should not consider decisions regarding marketing strategy independently of their financial

  10. FIRMS' FINANCIAL AND CORPORATE GOVERNANCE CHARACTERISTICS ASSOCIATION WITH EARNING MANAGEMENT PRACTICES: A META-ANALYSIS APPROACH

    Directory of Open Access Journals (Sweden)

    Fatima Abdul Hamid

    2014-11-01

    Full Text Available This paper aims to investigate the association between firm’s corporate governance and financial attributes (namely, board of directors’ size, board of directors’ independence, chief executive officer (CEO duality, ownership structure , audit type, firm’s size, firm’s return and leverage with earnings management practices. The study applies a comprehensive meta - analysis of the findings of 25 journal articles published between 2003 and 2013. The analysis permits this research to accumulate and assimilate the results of previous literature, and their generalization to a wider range of settings. The results showed that all corporate governance and financial characteristics variables have a significant association with earnings management practices.

  11. Distinguishing dairy cooperatives from investor-owned firms in Europe using financial indicators

    NARCIS (Netherlands)

    Soboh, R.A.M.E.; Oude Lansink, A.G.J.M.; Dijk, van G.

    2011-01-01

    The European dairy industry is facing a number of challenges related to policy changes and global trends that add pressure on their economic performance. This study uses logistic regression to analyze differences in financial and performance indicators between European dairy cooperatives and investo

  12. Socially Situated Financial Markets: A Neo-Behavioral Perspective on Firms, Investors and Practices

    NARCIS (Netherlands)

    I. Naumovska (Ivana)

    2014-01-01

    markdownabstract__Abstract__ In this dissertation I seek to redirect the conversation on stock market evaluations from the more traditional economic and behavioral finance theories, by proposing a neo-behavioral perspective, which views financial markets as socially situated. Specifically I combine

  13. Downgrading Financial Service Delivery and Institutional ...

    African Journals Online (AJOL)

    2014-05-01

    May 1, 2014 ... Empirical evidence on impact of mimicry on institutional sustainability can ... statements and returns to the central bank between 1996 and 2005. ... is fraught with risk, none of which augurs well for long term financial self-sufficiency of .... collection concept as one of its saving mobilisation /credit products to ...

  14. Establishing Mobile Financial Services in Ethiopia

    Science.gov (United States)

    Kanagwa, James R.

    2016-01-01

    Mobile phone service is increasing among low income populations; however, with over 1 billion mobile service users worldwide, many people still lack banking services. Banks do not reach out to the poor because of the high operational costs involved. Scholars and industry practitioners have indicated that mobile phones could be an alternative…

  15. The Management of Law Firms Using Business Process Management, Document Management and Web Services Integration

    OpenAIRE

    Roxana Maria Petculet

    2012-01-01

    The aim of this paper is to present the technical solution implemented in the present context for the management of law firms. The informational system consists of the automation of business processes using a BPM engine and electronic archiving using a DMS. The communication between the two modules is made by invoking web services. The whole system integrates modules like: project management, contract management, invoice management, collection, CRM, reporting.

  16. The Management of Law Firms Using Business Process Management, Document Management and Web Services Integration

    Directory of Open Access Journals (Sweden)

    Roxana Maria Petculet

    2012-03-01

    Full Text Available The aim of this paper is to present the technical solution implemented in the present context for the management of law firms. The informational system consists of the automation of business processes using a BPM engine and electronic archiving using a DMS. The communication between the two modules is made by invoking web services. The whole system integrates modules like: project management, contract management, invoice management, collection, CRM, reporting.

  17. The role of CSR engagement in the Internal Brand Building process : An exploratory study of Service firms

    OpenAIRE

    Emmanuel, Chidiebere; Eriksson, Eva

    2016-01-01

    This study explores how service firms incorporate CSR activities within the internal brand building process. It was found that CSR does influence and is implemented in every stage of our theoretical framework of the internal brand building process. The study was based on interviews conducted on managers and employees of service firms in the Netherlands and in Sweden.  CSR is an evolving concept, increasingly becoming important in affecting the consumption decisions of service firm’s customers...

  18. Spring 2008 Industry Study: Financial Services Industry

    Science.gov (United States)

    2008-01-01

    intervention in reaction to a significant market failure. Following the financial scandals of ENRON and WorldCom that rocked the industry in 2001...the century. Highlighting once approach is ENRON , who in 2000 recorded revenues of $111 billion, but in 2001 collapsed and filed for bankruptcy...by Odyssey Marine who was embroiled in an insider trading scandal in 2007 after the treasure- salvage ship discovered the “Black Swan” shipwreck. Each

  19. 31 CFR Appendix G to Subpart A of... - Financial Management Service

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 1 2010-07-01 2010-07-01 false Financial Management Service G...—Financial Management Service 1. In general. This appendix applies to the Financial Management Service. 2. Public reading room. The public reading room for the Financial Management Service is maintained at the...

  20. 25 CFR 20.600 - Who can apply for financial assistance or social services?

    Science.gov (United States)

    2010-04-01

    ... 25 Indians 1 2010-04-01 2010-04-01 false Who can apply for financial assistance or social services... FINANCIAL ASSISTANCE AND SOCIAL SERVICES PROGRAMS Administrative Procedures § 20.600 Who can apply for financial assistance or social services? (a) You can apply for financial assistance or social services...

  1. The Contribution of Knowledge Intensive Business Services to Successful Innovation in Manufacturing Firms - The Importance of Geographical Proximity

    DEFF Research Database (Denmark)

    Drejer, Ina; Vinding, Anker Lund

    2003-01-01

    The present paper addresses the importance of geographical location of firms in relation to processes of transfer and creation of knowledge with respect to product development, or more specific in terms of firm access to external knowledge provided by knowledge intensive service providers. The an...

  2. A study on operation efficiency evaluation based on firm's financial index and benchmark selection: take China Unicom as an example

    Science.gov (United States)

    Wu, Zu-guang; Tian, Zhan-jun; Liu, Hui; Huang, Rui; Zhu, Guo-hua

    2009-07-01

    Being the only listed telecom operators of A share market, China Unicom has always been attracted many institutional investors under the concept of 3G recent years,which itself is a great technical progress expectation.Do the institutional investors or the concept of technical progress have signficant effect on the improving of firm's operating efficiency?Though reviewing the documentary about operating efficiency we find that schoolars study this problem useing the regress analyzing based on traditional production function and data envelopment analysis(DEA) and financial index anayzing and marginal function and capital labor ratio coefficient etc. All the methods mainly based on macrodata. This paper we use the micro-data of company to evaluate the operating efficiency.Using factor analyzing based on financial index and comparing the factor score of three years from 2005 to 2007, we find that China Unicom's operating efficiency is under the averge level of benchmark corporates and has't improved under the concept of 3G from 2005 to 2007.In other words,institutional investor or the conception of technical progress expectation have faint effect on the changes of China Unicom's operating efficiency. Selecting benchmark corporates as post to evaluate the operating efficiency is a characteristic of this method ,which is basicallly sipmly and direct.This method is suit for the operation efficiency evaluation of agriculture listed companies because agriculture listed also face technical progress and marketing concept such as tax-free etc.

  3. Investigator Issue in Financial Service Crime in Indonesia

    Directory of Open Access Journals (Sweden)

    Wahyu Wiriadinata

    2014-12-01

    Full Text Available The objective of this paper is to address a question of the effectiveness of Financial Service Authority (Otoritas Jasa Keuangan - OJK investigators in eradicating financial service crimes in Indonesia. This question arises because in Law on Financial Service Authority there are OJK’s investigators with an investigatory authority on OJK crimes, including; banking, capital market, insurance, pension fund, financing institutions, and other financial service institution sectors. Meanwhile, there have been other investigators with an authority to investigate, namely, public prosecutor, police, and KPK (Indonesia’s corruption eradicating commission. The theoretical framework of this paper was grounded in the thoughts of Aristotle, who says that the goal of law is to achieve justice, and that of Hans Kelsen’s stuffen theory. The method of writing was juridical-normative, by studying legislations, both contained in laws themselves and in literatures/books of legal science, particularly those related to Financial Service Authority. The result was in a form of juridical aspect and written in a descriptive-analytical form. The conclusion of this paper was as follows: There was an overlapping of authorities between OJK’s investigators and public attorney’s investigators, police, and KPK, be they in the investigation of general crimes and that of special crimes/corruption. As for the effectiveness of OJK’s investigators, it should be proved yet in the future.

  4. Currency Speculation in Danish Non-Financial Firms: Cowboys or Suits?

    DEFF Research Database (Denmark)

    Aabo, Tom

    Gambling has attracted people since ancient times. This empirical paper surveys and investigates the nature of corporate speculation done by Danish non-financial companies on the currency markets. The empirical results show that such speculation is widespread and that the extent of speculation...... is positively linked to the size of the company, to the degree of foreign involvement, and to the conservatism of the capital structure. The empirical results also show that if a person (often the founder or his relatives) is the largest shareholder in the company, the extent of speculation is reduced...

  5. NEW TECHNOLOGIES AND INFRASTRUCTURES OF FINANCIAL SERVICES

    Directory of Open Access Journals (Sweden)

    Radu BORES

    2016-09-01

    Full Text Available This paper presents a view over recent developments in the underlying infrastructure of the financial system, more specifically electronic trading and how computers have taken over classic trading mechanisms. While some of the benefits are easy to agree upon, evidence shows that technical discrepancies have made the order book unequal fighting ground for traders. The findings of the paper suggests that in practice, high frequency trading is actually detrimental to order book health and degrades liquidity and overall quality of execution of regular trades.

  6. A comparative study of internal customer management practices within service sector firms and the National Health Service.

    Science.gov (United States)

    Chaston, I

    1994-02-01

    In responding to the UK government's market forces model, some National Health Service (NHS) managers have introduced private sector concepts such as 'customer care' and 'total quality management' (TQM). Private sector firms find that success of these techniques is dependent upon creating an internal marketing orientation across the entire organization. To determine how internal marketing is being applied, a comparative survey of UK service sector firms and NHS units was undertaken using a modified version of Parasuraman's SERVQUAL model. All respondents indicated existence of type 1, 2, 3 and 4 gaps in the internal customer management process within their organizations. Major influencers of service gaps include departments placing internal efficiency ahead of internal customers and insufficient understanding of internal customer requirements. The survey indicated that, in certain areas of managing service quality, the NHS is performing better than its private sector counterparts. Nevertheless, opportunity for enhancing service quality in the NHS is possible through improving the flow of information between departments, stronger orientation towards meeting customer needs, upgrading provision systems and changing intradepartmental culture. The constraint facing the NHS manager is the limited availability of resources. One solution is to allocate resources in relation to service priorities. A directional planning matrix is presented as a tool for developing an optimum internal customer management strategy within an NHS unit.

  7. The Impact of Local Culture on Financial Performance in Property Firms in Bali

    Directory of Open Access Journals (Sweden)

    I Putu Astawa

    2015-09-01

    Full Text Available The research studies local culture reflected through pray, hard work, honesty, tatwamasi and gotong royong influencing property sales and company assets. Fifty companies are qualified as sample of sixty one property companies actively operated in 2013. Data is collected through questionnaire having tested for its reliability and validity before distributed to those fifty companies. The collected data is analyzed with multiple  regression. Result shows that hard work, honesty, tatwamasi and gotong royong culture that well implemented are able to improve property sale and assets ownership. Result of the study has implication that in order to improve financial performance, local culture should be included as variable in performance measurement. Result of the study gives contribution to Schein’s organizational culture (2004 that colored with local culture; therefore, values believed in an organization are able to improve performance.

  8. 75 FR 4450 - Financial Management Service; Proposed Collection of Information: Direct Deposit Sign-Up Form

    Science.gov (United States)

    2010-01-27

    ... Fiscal Service Financial Management Service; Proposed Collection of Information: Direct Deposit Sign-Up Form AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice and Request for comments. SUMMARY: The Financial Management Service, as part of its continuing effort to reduce paperwork...

  9. 76 FR 23859 - Financial Management Service Proposed Collection of Information: CMIA Annual Report and Direct...

    Science.gov (United States)

    2011-04-28

    ... Fiscal Service Financial Management Service Proposed Collection of Information: CMIA Annual Report and Direct Cost Claims AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice and request for comments. SUMMARY: The Financial Management Service, as part of its continuing effort to...

  10. 76 FR 23860 - Financial Management Service Proposed Collection of Information: Schedule of Excess Risks

    Science.gov (United States)

    2011-04-28

    ... Fiscal Service Financial Management Service Proposed Collection of Information: Schedule of Excess Risks AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice and request for comments. SUMMARY: The Financial Management Service, as part of its continuing effort to reduce paperwork and...

  11. 76 FR 77590 - Financial Management Service; Proposed Collection of Information: Request for Payment of Federal...

    Science.gov (United States)

    2011-12-13

    ... Fiscal Service Financial Management Service; Proposed Collection of Information: Request for Payment of Federal Benefit by Check, EFT Waiver Form AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice and request for comments. SUMMARY: The Financial Management Service, as part of its...

  12. 75 FR 5849 - Financial Management Service; Proposed Collection of Information: Claim Against the United States...

    Science.gov (United States)

    2010-02-04

    ... Fiscal Service Financial Management Service; Proposed Collection of Information: Claim Against the United States for the Proceeds of a Government Check AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice and Request for comments. SUMMARY: The Financial Management Service, as part of...

  13. 77 FR 37959 - Financial Management Service; Proposed Collection of Information: Pools and Associations-Annual...

    Science.gov (United States)

    2012-06-25

    ... Fiscal Service Financial Management Service; Proposed Collection of Information: Pools and Associations--Annual Letter AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice and request for comments. SUMMARY: The Financial Management Service, as part of its continuing effort to reduce...

  14. 75 FR 75725 - Financial Management Service; Proposed Collection of Information: Tax Time Card Account Pilot...

    Science.gov (United States)

    2010-12-06

    ... Fiscal Service Financial Management Service; Proposed Collection of Information: Tax Time Card Account Pilot, Screening, Focus Groups, and Study AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice and request for comments. SUMMARY: The Financial Management Service, as part of its...

  15. 75 FR 75546 - Financial Management Service; Privacy Act of 1974, as Amended; System of Records

    Science.gov (United States)

    2010-12-03

    ... Financial Management Service; Privacy Act of 1974, as Amended; System of Records AGENCY: Financial... the Privacy Act of 1974, as amended, the Financial Management Service gives notice of a proposed new... send your comments to Peter Genova, Deputy Chief Information Officer, Financial Management Service, 401...

  16. Financial structures, firms, and the welfare states in South Korea and Singapore

    NARCIS (Netherlands)

    Lim, S.

    South Korea and Singapore display distinctive patterns of social provision. The Singaporean welfare state has served as the primary provider of social infrastructure and services, whereas the South Korean welfare state has developed its primary role in supporting income maintenance. These

  17. From dissatisfied customers to evangelists of the firm: A study of the Spanish mobile service sector

    Directory of Open Access Journals (Sweden)

    Jesús Cambra Fierro

    2014-07-01

    Full Text Available This paper takes a closer look at factors which serve as a catalyst for transforming initially dissatisfied customers into evangelists of the firm; that is, customers who spread positive word-of-mouth about a company, its products and/or services—and recommend them to other consumers. We propose a conceptual model, rooted in relationship marketing theory, which identifies a set of factors that afford a better understanding of post-service recovery customer transformation processes. The proposed model is empirically tested in the context of mobile telecommunications services using a structural equation modeling approach. Our findings reveal that when companies are capable of designing effective service recovery processes—where customers perceive effort and justice in the outcome—initial dissatisfaction can turn to brand loyalty, long-term commitment and, above all, readiness to speak positively about the company and its products. Finally, the main implications for marketing practice are discussed.

  18. Resource based view of the firm: measures of reputation among health service-sector businesses.

    Science.gov (United States)

    Smith, Alan D

    2008-01-01

    Application of the strategic leverage of Resource Based View of the Firm (RBV) directly advocates that a company's competitive advantage is derived from its ability to assemble and exploit an appropriate combination of resources (both tangible and intangible assets). The three companies that were selected were Pittsburgh-based companies that were within relatively easy access, representing healthcare service-related industries, and can be reviewed for the principles of the RBV. The particular firms represented a variety of establishments and included Baptist Homes (a long-term care facility), University of Pittsburgh Medical Center (UPMC)(a provider of hospital and other health services), and GlaxoSmithKline, Consumer Healthcare, North America (GSK-CHNA)(a global provider of healthcare products and services). Through the case studies, it was found that not all intangible assets are strategic, and by extension, not all measures of reputation are strategic either. For an intangible asset to be considered strategic, in this case reputation, it must be valuable, rare, imperfectly imitable, and non-substitutable.

  19. Generic Lean Six Sigma project definitions in financial services

    NARCIS (Netherlands)

    de Koning, H.; de Mast, J.; Does, R.J.M.M.; Vermaat, T.; Simons, S.

    2008-01-01

    Lean Six Sigma (LSS) is applied in financial service organizations to improve operational efficiency and effectiveness. LSS prescribes that these improvements are designed and implemented by projects. The purpose of this article is to facilitate the process of defining LSS projects in finance,

  20. Generic Lean Six Sigma project definitions in financial services

    NARCIS (Netherlands)

    H. de Koning; J. de Mast; R.J.M.M. Does; T. Vermaat; S. Simons

    2008-01-01

    Lean Six Sigma (LSS) is applied in financial service organizations to improve operational efficiency and effectiveness. LSS prescribes that these improvements are designed and implemented by projects. The purpose of this article is to facilitate the process of defining LSS projects in finance, becau

  1. Generic Lean Six Sigma project definitions in financial services

    NARCIS (Netherlands)

    de Koning, H.; de Mast, J.; Does, R.J.M.M.; Vermaat, T.; Simons, S.

    2008-01-01

    Lean Six Sigma (LSS) is applied in financial service organizations to improve operational efficiency and effectiveness. LSS prescribes that these improvements are designed and implemented by projects. The purpose of this article is to facilitate the process of defining LSS projects in finance, becau

  2. Modeling Financial Innovation and Economic Growth: Why the Financial Sector Matters to the Real Economy

    Science.gov (United States)

    Chou, Yuan K.

    2007-01-01

    The author devises a simple way of incorporating the financial sector into a growth model that is pedagogically useful. Financial innovation raises the efficiency of financial intermediation by increasing the variety of financial products and services, resulting in improved matching of the needs of individual savers with those of firms raising…

  3. Moving forward with service dominant logic: Exploring the strategic orientations of a service-centred view of the firm

    Directory of Open Access Journals (Sweden)

    Paladino, A.

    2013-01-01

    Full Text Available Service Dominant Logic (SDL has been the subject of great conceptual debate over the past years. We are now clearly at a crossroad where application is required to cement its practical relevance to the organization and its performance. This paper extends the SDL debate, as founded by Vargo and Lusch (2004, by analyzing it through the lens of strategic orientations, in combination with a service-centred view of the firm. In doing so, the purpose of this paper is twofold. Firstly we aim to identify the existence of common characteristics between SDL and existing conceptual orientations. Secondly, we go further to explore the conceptual relationships between these identified and empirically evaluated strategic orientations (market, resource, learning, service, and entrepreneurship orientations and SDL theory. We proffer that a service-centred view of the firm requires the deployment of key facets of all of these strategic orientations. In this way, we argue that a SD orientation emerges that is in essence a strategic orientation combination. In doing so, we develop a comprehensive framework and lay the foundation for the initiation of empirical work on SDL to further enrich the work initiated by Vargo and Lusch (2004. The paper concludes with a discussion of this framework, its implications for scholars and practitioners and areas for future research.

  4. 15 CFR 801.11 - Rules and regulations for the BE-80, Benchmark Survey of Financial Services Transactions Between...

    Science.gov (United States)

    2010-01-01

    ... and commodity exchanges; other financial investment activities (including miscellaneous intermediation, portfolio management, investment advice, and all other financial investment activities); insurance carriers..., Benchmark Survey of Financial Services Transactions Between U.S. Financial Services Providers and...

  5. Exploring service development for understanding Schumpeterian innovation in service firms: the deduction of special case criteria

    NARCIS (Netherlands)

    Flikkema, Meindert

    2005-01-01

    The identification of innovation in services is problematic. This seems remarkable, since many papers have emerged, which emphasize distinctive features of service innovation. However, some of these contributions strain the Schumpeterian innovation opinion or describe in fact the role of service

  6. Are Private Firms Really More Tax Aggressive Than Public Firms ?

    OpenAIRE

    Pierk, Jochen

    2016-01-01

    This paper tests the notion that private firms are more tax aggressive than public firms. Tax avoidance measures, e.g. effective tax rates, cannot be used to compare private and public firms when private and public firms have different levels of importance on financial accounting earnings (Hanlon and Heitzman 2010). To disentangle financial reporting incentives from tax aggressiveness, I use the fact that European groups must prepare two sets of financial statements: first, gro...

  7. Exploring the Impact of High Performance Work Systems in Professional Service Firms: A Practices-Resources-Uses-Performance Approach

    OpenAIRE

    Fu, Na

    2013-01-01

    This article aims to explore how a system of human resource management (HRM)practices influence firm performance in a professional service context. It integrates multidisciplinary theory and research findings. The system of HRM practices are labeled as high performance work systems (HPWS). In this article, it is proposed that HPWS influence firm performance through two steps: (1) by creating resources of human, social and organizational capital; and (2) by efficient uses of these resource...

  8. Customer Satisfaction for Financial Services: The Role of Products, Services, and Information Technology

    OpenAIRE

    M. S. Krishnan; Venkatram Ramaswamy; Meyer, Mary C.; Paul Damien

    1999-01-01

    In this paper, we study the drivers of customer satisfaction for financial services. We discuss a full Bayesian analysis based on data collected from customers of a leading financial services company. Our approach allows us to explicitly accommodate missing data and enables quantitative assessment of the impact of the drivers of satisfaction across the customer population. We find that satisfaction with product offerings is a primary driver of overall customer satisfaction. The quality of cus...

  9. Financial restatement and firm performance in family controlled and CEO duality companies: evidence from post 2007 Malaysian Code of Corporate Governance

    OpenAIRE

    Chin Sok Fun; Tang Kin Boon; Che Ahmad Ayoib

    2017-01-01

    Do financial restatements dampen firm performance? One argument about this is that restatements hurt investor confidence in the credibility of a firm’s disclosure, resulting in a decline in demand for the firm’s securities, thereby, leading to a significant drop in asset price. On the other hand, agency theory suggests that family ownership could have potential benefits to a firm’s performance. An increase in family ownership will have a greater concern for reputation to the controlling famil...

  10. 78 FR 12358 - UBS Financial Services, Inc., Wealth Management Americas Operations, Including On-Site Leased...

    Science.gov (United States)

    2013-02-22

    ... Employment and Training Administration UBS Financial Services, Inc., Wealth Management Americas Operations..., applicable to workers of UBS Financial Services, Inc., Wealth Management Americas Operations (UBS), Weehawken... Management Americas Operations (UBS), Weehawken, New Jersey, who were all adversely affected by the...

  11. Geographical Dynamics of Environmental Service Firms at Metropolitan and National Scales in the United States: The Case of Pittsburgh, Pennsylvania

    Directory of Open Access Journals (Sweden)

    James T. Hathaway

    2012-01-01

    Full Text Available A close look at Pittsburgh’s environmental service firms in recent decades provides insight into the locational dynamics and trends of the United States environmental industry and insight into forces underlying this broad ranging sector of the economy. For my purposes, I place environmental services into two categories of producer services: professional services (e.g., environmental consulting or engineering and environmental contractors (e.g., remediation, emergency response while the third category lies in the realm of consumer services: operation and maintenance services (e.g., waste collection, treatment and disposal. I will provide portraits of these businesses by describing their revenues, employment, labor characteristics, clientele, and overall nature. My sources of information include trade publications and business databases, census data, content from firm websites, and personal interviews. I use a political economy perspective 1 to illuminate the forces affecting the locational dynamics and evolution of environmental service firms at metropolitan, national, and global scales and 2 to see what an analysis of environmental firms can contribute to debates on such processes as agglomeration and dispersal, outsourcing, the changing regulatory environment, and the “greening” of industry. Large manufacturing job declines have stimulated a move in the Pittsburgh area toward the environmental sector, but some environmental service industries have had turbulent trajectories. Pittsburgh’s environmental service firms have benefited from the region’s long history of struggling with environmental issues and by national trends including the public sector’s retreat from the provision of services and the “greening” of industry.

  12. Financial services in the euro-mediterranean partnership : banking

    OpenAIRE

    Brack, Estelle; Elsen, Robert; Pons, Jean-François

    2009-01-01

    Towards the goal to gather a better understanding of the banking structure and the regulatory practices in place, the Working Group on Financial Services in the Euro-Mediterranean Partnership developed a survey. This survey is based on a questionnaire which was addressed to the States of the MEDA region. The questionnaire tackled various topics related to the banking regulation, supervisory institutions in charge and the prevalent market conditions such as current mark...

  13. 31 CFR Appendix G to Subpart C of... - Financial Management Service

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 1 2010-07-01 2010-07-01 false Financial Management Service G... Management Service 1. In general. This appendix applies to the Financial Management Service. It sets forth... requests for notification and access to records and accountings of disclosures for the Financial Management...

  14. 31 CFR 537.305 - Exportation or reexportation of financial services to Burma.

    Science.gov (United States)

    2010-07-01

    ... financial services to Burma. 537.305 Section 537.305 Money and Finance: Treasury Regulations Relating to... SANCTIONS REGULATIONS General Definitions § 537.305 Exportation or reexportation of financial services to Burma. The term exportation or reexportation of financial services to Burma means: (a) The transfer...

  15. 77 FR 9592 - Defining Larger Participants in Certain Consumer Financial Product and Service Markets

    Science.gov (United States)

    2012-02-17

    ... and Service Markets AGENCY: Bureau of Consumer Financial Protection. ACTION: Proposed rule; request... consumer financial products or services. The Bureau must define such ``larger participants'' by rule, and... covering additional markets for consumer financial products and services. The Bureau also proposes...

  16. The Study on the Market Position for China Post to Launch International Financial Service

    Institute of Scientific and Technical Information of China (English)

    LANG Qiu-hong; ZHOU Zhi-cui; DU Yu-wei

    2005-01-01

    The article studies the international financial service, which might be opened by China Post. Based on defining postal financial service, it analyses the face-to-face circumstances and challenges by using the method of normal market position and the method of General Electric Company (GEC). Finally it defines the market position of Postal Financial International Service(PFIS).

  17. 34 CFR 361.54 - Participation of individuals in cost of services based on financial need.

    Science.gov (United States)

    2010-07-01

    ... types of vocational rehabilitation services for which the unit has established a financial needs test... service. (3) The designated State unit may not apply a financial needs test, or require the financial... 34 Education 2 2010-07-01 2010-07-01 false Participation of individuals in cost of services...

  18. 76 FR 15993 - Revision of Agency Information Collection for Financial Assistance and Social Services

    Science.gov (United States)

    2011-03-22

    ... Budget a revision to the information collection, titled ``Financial Assistance & Social Services, 25 CFR... OMB Control Number: 1076-0017. Title: Financial Assistance and Social Services, 25 CFR 20. Brief.... Respondents: Individual Indians seeking financial assistance or social services from BIA. Number...

  19. Strong medicine: rethinking the PFS (patient financial services) director's role.

    Science.gov (United States)

    Bradford, C; Simoni, A

    1991-08-01

    Burdened by accounts receivable problems and the growing complexity of patient accounting, hospitals soon may require an enhanced resume for individuals responsible for patient financial services (PFS) departments. Advanced skills in management, productivity, budgeting, analysis, and other areas increasingly must be put to work. Outdated perceptions also must change, giving PFS directors the influence needed to make change happen. A hospital's options include supporting course work toward an advanced degree, organizing rotation training in other hospital departments, or filling a PFS director position by searching for parallel skills in other service industries.

  20. WTO’S understanding on commitments in financial services

    Institute of Scientific and Technical Information of China (English)

    2002-01-01

    Participants in the Uruguay Hound have been enabled to take on specific commitments with respect to financial services under the General Agreement on Trade in Services (hereinafter referred to as the "Agreement") on the basis of an alternative approach to that covered by the provisions of Part Ⅲ of the Agreement. It was agreed that this approach could be applied subject to the following understanding: (i) it does not conflict with the provisions of the Agreement; (ii) it does not prejudice the right of ...

  1. Pengaruh Kualitas Pelayanan Dan Kepuasan Konsumen Terhadap Loyalitas Konsumen PT. Toyota Astra Financial Service Medan

    OpenAIRE

    Purba, Nona Erika

    2012-01-01

    Formulation of the problem in this study is to what extent the influence of service quality: reliability, responsiveness, assurance, empathy and physical evidence of customer satisfaction PT. Toyota Astra Financial Service Field, the influence of customer satisfaction on consumer loyalty PT. Toyota Astra Financial Service Field and the influence of service quality and customer satisfaction to customer loyalty PT. Toyota Astra Financial Service Field. The purpose of this study is to investigat...

  2. Financial restatement and firm performance in family controlled and CEO duality companies: evidence from post 2007 Malaysian Code of Corporate Governance

    Directory of Open Access Journals (Sweden)

    Chin Sok Fun

    2017-01-01

    Full Text Available Do financial restatements dampen firm performance? One argument about this is that restatements hurt investor confidence in the credibility of a firm’s disclosure, resulting in a decline in demand for the firm’s securities, thereby, leading to a significant drop in asset price. On the other hand, agency theory suggests that family ownership could have potential benefits to a firm’s performance. An increase in family ownership will have a greater concern for reputation to the controlling family in producing high quality accounting information and, thereby, reduce the likelihood of financial restatements. We evaluate these arguments by distinguishing the effects of restatements on firm performance under two corporate governance environments; family-controlled and CEO duality companies. Based on a sample of Malaysian listed companies in 2008 after the post MCCG 2007 initiative, our findings suggest that (1 restatements dampen firm performance, (2 the dampening impacts of restatements are completely mitigated in family-controlled companies, and (3 the dampening effects are more pronounced in non-family controlled companies than family-controlled companies in non-CEO duality companies. Using this evidence, we recommend that Malaysian regulators develop policies that are unique to the Malaysian markets so as to curtail accounting irregularities. They should reconsider the relevance of requiring CEO nonduality as a practice of good corporate governance and encourage more investment in family-controlled companies.

  3. A Peer-Based Financial Planning & Education Service Program: An Innovative Pedagogic Approach

    Science.gov (United States)

    Goetz, Joseph W.; Durband, Dorothy B.; Halley, Ryan E.; Davis, Kimberlee

    2011-01-01

    This paper presents a peer-based financial planning and education program as a strategy to address the lack of financial literacy among college students and provide an experiential learning opportunity for students majoring in financial planning or other financial services-related disciplines. Benefits of such programs to campus communities are…

  4. ICT, Complementary Firm Strategies and Firm Performance

    OpenAIRE

    Rasel, Fabienne

    2016-01-01

    This doctoral thesis analyses from different perspectives the relationship between information and communication technologies (ICT), complementary firm strategies and firm performance. One chapter examines the role of ICT and decentralized workplace organization for productivity. Two chapters analyse the association between firms' ICT use, international trade activities and productivity. The empirical analyses are based on data from firms located in Germany from the manufacturing or service s...

  5. Do the Firm-level Variables and Human Capital Impact Capital Structure Decisions? A Study of Non-financial Firms in Pakistan

    Directory of Open Access Journals (Sweden)

    Agha Jahanzeb

    2014-12-01

    Full Text Available In this study firm’s capital structure decisions have been tried to examine theoretically and empirically. By testing the determinants of capital structure, i.e., size, tangibility, profitability, growth, non-debt tax shield, business risk and liquidity on firm’s leverage (capital structure decisions have been tried to determine. Size, profitability, non-debt tax shield, liquidity and human capital have been found significant and negatively related to capital structure decisions. Our analysis consists of 176 non-financial Pakistani companies listed on Karachi Stock Exchange over the period of 2003-2012.

  6. 75 FR 77044 - Financial Management Service; Privacy Act of 1974, as Amended; System of Records

    Science.gov (United States)

    2010-12-10

    ... Financial Management Service; Privacy Act of 1974, as Amended; System of Records AGENCY: Financial Management Service, Treasury. ACTION: Withdrawal of a Privacy Act Notice. SUMMARY: The Department of the Treasury is withdrawing the proposed system of records notice published on behalf of the Financial...

  7. Government control of markets of financial services of Ukraine in conditions of macroeconomic instability

    Directory of Open Access Journals (Sweden)

    Ігор Юрійович Мельников

    2015-05-01

    Full Text Available An essence of financial services market of Ukraine is considered in the article. The mechanism and features of state regulation of financial services market in the context of macroeconomic instability are determined, the fundamentals of the theory of regulation of market economy and segments of the financial market of Ukraine are determined

  8. Government control of markets of financial services of Ukraine in conditions of macroeconomic instability

    OpenAIRE

    Ігор Юрійович Мельников

    2015-01-01

    An essence of financial services market of Ukraine is considered in the article. The mechanism and features of state regulation of financial services market in the context of macroeconomic instability are determined, the fundamentals of the theory of regulation of market economy and segments of the financial market of Ukraine are determined

  9. Financial Management of Online Services--A How-to Guide.

    Science.gov (United States)

    Drinan, Helen

    1979-01-01

    Assesses the financial impact of online services for management and describes the process of financial management of the online search service at Charles River Associates, Inc. The areas of budgeting, pricing, and controlling are examined in the context of a financial management methodology. (CWM)

  10. Realizing high performance on multiple stakeholder domains : A resource-based analysis of professional service firms in the Netherlands and Germany

    NARCIS (Netherlands)

    Glunk, U.

    1999-01-01

    This book presents an empirical study on small and medium-sized professional service firms in the Netherlands and Germany. The overall aim of this study was to specify and test those intra-organizational resources that enable small and medium-sized professional service firms to realize high performa

  11. Firm technological innovation financing and financial risk%企业技术开发融资与金融风险

    Institute of Scientific and Technical Information of China (English)

    孙军; 蔡中华; 邵鲁宁

    2009-01-01

    By established a dynamic model, this paper analyze the relationship between the financial risk and eco-nomic growth when firms using the financial intermediaries to carry out technology innovation financing. It in-troduces the weighted-related financial ratios under the conditions of the economy reached weighted system-relat-ed financial ratios. The results show that there has a maximum safe boundary determinted by the level of tech-nology, capital and output flexibility, social savings rates and market interest rates, if the weighted-related fi-nancial ratios exceed the upper limit, the real economy system will have a higher financial risks and lead to finan-cial crisis.%通过建立动态模型分析了企业借助金融中介进行技术开发融资时金融风险对技术进步和经济增长的影响,在引入加权金融相关比率的条件下,得出了经济系统中加权金融相关比率所必须满足的参数条件.结果表明经济系统中存在一个由技术水平、资本的产出弹性、社会储蓄率和与市场利率决定的安全上限,如果加权金融相关比率超过这一上限,则会产生较高的金融风险并导致金融危机.

  12. The effects of customer equity drivers on loyalty across services industries and firms

    NARCIS (Netherlands)

    Ou, Yi-Chun; Verhoef, Peter C.; Wiesel, Thorsten

    Customer equity drivers (CEDs)-value equity, brand equity, and relationship equity-positively affect loyalty intentions, but this effect varies across industries and firms. We empirically examine potential industry and firm characteristics that explain why the CEDs-loyalty link varies across

  13. Financial services liberalization and international integration in South Eastern Europe

    Directory of Open Access Journals (Sweden)

    Prica Ivana

    2008-01-01

    Full Text Available The first part of this paper analyses the regulatory framework for international trade in financial services within the auspices of the World Trade Organization (WTO, with special attention paid to the open issues including the scope of prudential measures and capital mobility limitations. The process of the international integration of the South Eastern Europe (SEE countries is mainly dictated by their goal of EU integration. With regard to the services' sectors, a major liberalization step on the way is WTO accession. Of the countries in the region only Serbia, Bosnia and Herzegovina and Montenegro are still not WTO members and in order to become members significant liberalization commitments will be demanded of them. For this reason the second part of the paper deals with concrete financial liberalization commitments undertaken by the original WTO members in SEE and the newly WTO acceded SEE member countries. The last part of the paper provides a quantitative analysis of these commitments by means of the measurement of liberalization indices in the banking sectors in SEE countries. This is to provide a general idea of the scope of liberalization that may be required from a SEE country in order to achieve WTO membership on the road to EU integration.

  14. Access to financial services: The case of the ‘Mzansi’ account in South Africa

    Directory of Open Access Journals (Sweden)

    Philip Kostov

    2015-06-01

    Full Text Available The presence of rationing of financial services in the developing countries is a major obstacle to achieving sustainable growth. In recent years there have been co-ordinated efforts to increase the level of financial inclusion, i.e. to reduce the supply-side constraints restricting access to finance. This paper aims to understand household's latent behaviour decision making in accessing financial services, by analysing an entry level Mzansi account in South Africa. The willingness to access financial services is not taken as given, but it is instead defined by perceptions and attitudes. The Mzansi intervention is appealing to individuals with basic but insufficient financial education. Aspirations seem to be very influential in revealing the choice of financial services and to this end, Mzansi is perceived as a pre-entry account not meeting the aspirations of individuals aiming to climb up the financial services ladder.

  15. DOES THE UPPSALA INTERNATIONALIZATION MODEL EXPLAIN THE INTERNATIONALIZATION PROCESS OF PROFESSIONAL BUSINESS SERVICE FIRMS?

    Directory of Open Access Journals (Sweden)

    Magda Górska

    2013-06-01

    Full Text Available The aim of this contribution is to verify if the Uppsala Model with later variations introduced by the authors is the right framework to explain internationalization process of Professional Business Service Firms (PBSFs. The focus is placed on the entry of one type of PBSFs, namely advertising agencies into the Chinese market. The example is based on a case study. This paper deliberates about identified factors in the internationalization process of advertising agencies that fit to the Uppsala model and about factors that deviate from it. Several stages are identified in the entrance of advertising agencies into the Chinese market. These are as follows: initial stage - external agent, participation stage - representative office, establishment stage - joint venture, network expansion stage – branch offices and other joint ventures. The presence of stages suggests that the Uppsala model may prove useful in explanation of foreign entry strategies in PBSFs in general. In addition to that, support is also found for market entry due to networking activities. Client following was identified as most common entry mode in the studied group of PBSFs.

  16. Impact of error management culture on knowledge performance in professional service firms

    Directory of Open Access Journals (Sweden)

    Tabea Scheel

    2014-01-01

    Full Text Available Knowledge is the most crucial resource of the 21st century. For professional service firms (PSFs, knowledge represents the input as well as the output, and thus the fundamental base for performance. As every organization, PSFs have to deal with errors – and how they do that indicates their error culture. Considering the positive potential of errors (e.g., innovation, error management culture is positively related to organizational performance. This longitudinal quantitative study investigates the impact of error management culture on knowledge performance in four waves. The study was conducted in 131 PSFs, i.e. tax accounting offices. As a standard quality management system (QMS was assumed to moderate the relationship between error management culture and knowledge performance, offices' ISO 9000 certification was assessed. Error management culture correlated positively with knowledge performance at a significant level and predicted knowledge performance one year later. While the ISO 9000 certification correlated positively with knowledge performance, its assumed moderation of the relationship between error management culture and knowledge performance was not consistent. The process-oriented QMS seems to function as facilitator for the more behavior-oriented error management culture. However, the benefit of ISO 9000 certification for tax accounting remains to be proven. Given the impact of error management culture on knowledge performance, PSFs should focus on actively promoting positive attitudes towards errors.

  17. The protection of financial services users: The case of insurance companies and investment funds

    Directory of Open Access Journals (Sweden)

    Njegomir Vladimir

    2012-01-01

    Full Text Available The users of financial services generally do not have the required expertise that they need to process the available financial information when they make financial and investment decisions, and as such they represent a sensitive category of financial market participants, which may intentionally or unintentionally be exposed to manipulation. If the beneficiaries do not have relevant and accurate information, the relationship between the provider and the service user is characterized with information asymmetry, and because of these reasons adequate regulatory instruments are necessary in order to protect the interests of financial services users. In the financial services sector, the development of a long-term successful relationship between providers and users of services should be based on mutual trust and users' feel that they have received a value for the price paid. The aim of the paper is to highlight the modern ways of improving the protection of the interests of consumers of financial services provided by insurance companies and investment funds. The paper analyses the reasons for protection of consumers of financial services, specifics of insurance as financial service, the importance of trust as a key factor for the attraction of service users and the basic principles of operation of investment funds in the developed and the domestic financial market are compared. The particular attention is given to insurance companies and investment funds in terms of regulatory and other mechanisms of governments that are related to the protection of insureds and investment funds investors.

  18. Impact of Macroeconomic Factors on Non-financial firms' Stock Returns: Evidence from Sectorial Study of KSE-100 Index

    Directory of Open Access Journals (Sweden)

    Isma Zaighum

    2015-03-01

    Full Text Available This paper attempts to study the impact of pre-specified set of macroeconomic factors on firm's stock returns for nine nonfinancial sectors listed in Karachi Stock Exchange. The macroeconomic factors included are consumer price index, industrial production index, market returns, risk free return and money supply. The studied sample covers data from 2001 to 2011. Panel analysis using pooled OLS shows that all studied sectors firm's stock returns have negative relationship with consumer price index, money supply and risk free rate, whereas industrial production index and market returns indicates a positive relationship. The results of this study have important implications for the equity investors and policy makers.

  19. Which Subsidy Mode Improves the Financial Performance of Renewable Energy Firms? A Panel Data Analysis of Wind and Solar Energy Companies between 2009 and 2014

    Directory of Open Access Journals (Sweden)

    Huiming Zhang

    2015-12-01

    Full Text Available The effectiveness of subsidies in improving the performance of renewable energy firms has aroused significant research attention in recent years. As subsidy modes may affect corporate financial performance,we have chosen companies specializing in wind and solar energy in the Shanghai and Shenzhen stock markets as samples.The relationships between the subsidy modes and financial performance of these two types of companies are investigated with a panel data model. Results of the total sample indicate that both indirect and non-innovative subsidy have significant effects on the financial performance of renewable energy companies. The regressive coefficient of the former,however, is a negative value, which illustrates that taxation, bonus, and other market-based mechanisms impair corporate profitability. Moreover, the influence of innovative subsidy is weak, which means that the subsidy used for research and development, technical demonstration, and other innovations of renewable energy enterprises have failed to effectively enhance corporate financial performance. In terms of sub-industries, the direct subsidy for wind energy companies has achieved a significant effect. Incomparison, the indirect subsidy and innovative subsidy acquired by solar energy companies have notably reduced corporate profitability. Thissuggests an urgent reform of subsidy policy for this industry is needed. The government should consider differences in the effects subsidies have for wind and solar energy companies when improving subsidy policy. In addition, market-based subsidy mechanisms should be perfected, and the structure of innovative subsidies should be ameliorated.

  20. 49 CFR Appendix A to Part 604 - Listing of Human Service Federal Financial Assistance Programs

    Science.gov (United States)

    2010-10-01

    ... 49 Transportation 7 2010-10-01 2010-10-01 false Listing of Human Service Federal Financial... (Continued) FEDERAL TRANSIT ADMINISTRATION, DEPARTMENT OF TRANSPORTATION CHARTER SERVICE Pt. 604, App. A Appendix A to Part 604—Listing of Human Service Federal Financial Assistance Programs Federal...

  1. Determining Relevant Financial Statement Ratios in Department of Defense Service Component General Fund Financial Statements

    Science.gov (United States)

    2014-06-01

    users of corporate financial statements are included in Table 1. 11 Lenders Investors Managers Suppliers Customers Employees Competitors The... financial statements . For example, lenders and investors may use financial statements to achieve their profit or interest objectives by predicting...NAVAL POSTGRADUATE SCHOOL MONTEREY, CALIFORNIA JOINT APPLIED PROJECT DETERMINING RELEVANT FINANCIAL STATEMENT RATIOS IN

  2. The relationship between organizational structure and organizational ambidexterity: a comparison between manufacturing ans service firms

    NARCIS (Netherlands)

    Kortmann, S.

    2012-01-01

    In strategic management and organizational theory, organizational effectiveness denotes the broadest domain of business performance. What is the optimal structural configuration for organizational ambidexterity and to what extent is it contingent upon firm type? To answer this research question,

  3. Complex Incremental Product Innovation in Established Service Firms: A Micro Institutional Perspective

    NARCIS (Netherlands)

    P.A.M. Vermeulen (Patrick); F.A.J. van den Bosch (Frans); H.W. Volberda (Henk)

    2006-01-01

    textabstractMany product innovation studies have described key determinants that should lead to successful incremental product innovation. Despite numerous studies suggesting how incremental product innovation should be successfully undertaken, many firms still struggle with this type of innovation.

  4. Complex Incremental Product Innovation in Established Service Firms: A Micro Institutional Perspective

    NARCIS (Netherlands)

    P.A.M. Vermeulen (Patrick); F.A.J. van den Bosch (Frans); H.W. Volberda (Henk)

    2007-01-01

    textabstractMany product innovation studies have described key determinants that should lead to successful incremental product innovation. Despite numerous studies suggesting how incremental product innovation should be successfully undertaken, many firms still struggle with this type of innovation.

  5. The relationship between organizational structure and organizational ambidexterity: a comparison between manufacturing ans service firms

    NARCIS (Netherlands)

    S. Kortmann

    2012-01-01

    In strategic management and organizational theory, organizational effectiveness denotes the broadest domain of business performance. What is the optimal structural configuration for organizational ambidexterity and to what extent is it contingent upon firm type? To answer this research question, thi

  6. Violation regulation of financial services authority (FSA, financial performance, and corporate social responsibility disclosure

    Directory of Open Access Journals (Sweden)

    Habib Muhammad Shahib

    2016-07-01

    Full Text Available So far, there has been a bureaucracy reform and implementation of new regulations for good governance capital markets. However, policy violations are still frequent. For example, cases of violation of financial regulations leading to fraudulent financial reporting occurred in several companies listed on the Indonesia Stock Exchange. This study aims to examine the empirical facts related to the legitimacy theory with-in the scope of violation of financial regulation, financial performance and social responsibility disclosure of non-financial companies in Indonesia Stock Exchange. The data were obtained from the Indonesia Stock Exchange. There were 24 non-financial violator-companies of financial regulation chosen as the sample. These data, in relation to the research hypotheses, were analyzed by using a path analysis test. The result showed there were no significant effect of the violations of financial regulations on financial performance and the level of corporate social responsibility disclosure. Therefore, this study confirms legitimacy theory in different forms.

  7. Un modelo de opciones barreras para estimar las probabilidades de fracasos financieros de empresas. Barrier options model for estimate firm´s probabilities for financial distress

    Directory of Open Access Journals (Sweden)

    Gastón S. Milanesi

    2016-11-01

    Full Text Available Resumen Asimilar el valor del patrimonio como una opción de compra sobre los activos permitió desarrollar un conjunto de modelos dinámicos para predecir fracasos financieros empresariales. No obstante, el concepto presenta una importante debilidad: la relación directa y positiva entre valor del capital (prima y el nivel de volatilidad del activo subyacente. El razonamiento anterior indica que a mayor riesgo de la firma mayor debe ser su valor, lo que conduce a una lógica inconsistente para estimar probabilidades de fracasos financieros. Las opciones denominadas “exóticas barreras” constituyen un modelo alternativo para predecir dificultades financieras y su estructura se ajusta mejor a la relación valor-volatilidad en las empresas. El trabajo propone un modelo de opción barrera “operativo”, ya que simplifica la estimación de las inobservables variables: valor y riesgo del activo. Primero, se desarrolló formalmente los modelos de opción de compra simple y opción barrera para valorar el patrimonio de la firma y la estimación de probabilidades de fracaso financiero. Con un caso hipotético, se propuso un ejercicio de sensibilidad sobre volatilidades y plazos. Similar ejercicio se aplicó a dos firmas de capitales argentinos con diferentes grados de endeudamiento, gracias al cual se confirmó la consistencia entre volatilidad-valor-probabilidad de fracasos financieros del modelo propuesto. Finalmente se exponen las principales conclusiones.     Abstract Assimilation of the capital value as a call option over firm’s assets allows to develop a group of dynamic models to predict corporate financial distress. However, the concept shows an important weakness: the direct and positive relationship between the capital value (call with the level of underlying’s volatility. This reasoning indicates that the higher the risk is, the higher the value must be for the firm, leading to a weak rationality, in particular to estimate

  8. 76 FR 25782 - Financial Management Service; Proposed Collection of Information: List of Data (A) and List of...

    Science.gov (United States)

    2011-05-05

    ... Fiscal Service Financial Management Service; Proposed Collection of Information: List of Data (A) and List of Data (B) AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice and Request for comments. SUMMARY: The Financial Management Service, as part of its continuing effort to...

  9. Violation regulation of financial services authority (FSA), financial performance, and corporate social responsibility disclosure

    National Research Council Canada - National Science Library

    Shahib, Habib Muhammad; Irwandi, Soni Agus

    2016-01-01

    .... However, policy violations are still frequent. For example, cases of violation of financial regulations leading to fraudulent financial reporting occurred in several companies listed on the Indonesia Stock Exchange...

  10. Complementary or competing climates? Examining the interactive effect of service and ethical climates on company-level financial performance.

    Science.gov (United States)

    Myer, Adam T; Thoroughgood, Christian N; Mohammed, Susan

    2016-08-01

    By bending rules to please their customers, companies with high service climates may be less ethical but ultimately more profitable. In this article, we pose the question of whether being ethical comes at a cost to profits in customer-oriented firms. Despite the organizational reality that multiple climates coexist at a given time, research has largely ignored these types of questions, and the simultaneous analysis of multiple climate dimensions has received little empirical attention to date. Given their scientific and practical importance, this study tested complementary and conflicting perspectives regarding interactions between service (outcome-focused) and ethical (process-focused) climates on company-level financial performance. Drawing on a sample of 16,862 medical sales representatives spread across 77 subsidiary companies of a large multinational corporation in the health care product industry, we found support for a complementary view. More precisely, results revealed that profitability was enhanced, not diminished, in service-oriented firms that also stressed the importance of ethics. Results suggest studying the interactive effects of multiple climates is a more fruitful approach than examining main effects alone. (PsycINFO Database Record (c) 2016 APA, all rights reserved).

  11. An Empirical Study of Financial Shared Services: Understanding of an organization moves towards establishing financial shared service as a strategic finance function

    OpenAIRE

    Nik Mustaffa, Nik Azah Karimah

    2009-01-01

    This paper is prepared to understand an organization moves towards establishing financial shared service as a strategic finance function. The research is conducted by selected few multinational organizations from oil and gas industry to analyze the purpose of the move, how organizations are restructure and values generated from the financial shared services. The research also will extend towards identifying various challenges faced by the organizations during the restructuring process. The is...

  12. 17 CFR 204.55 - Change in notification to Financial Management Service.

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false Change in notification to Financial Management Service. 204.55 Section 204.55 Commodity and Securities Exchanges SECURITIES AND... Financial Management Service. After the Commission sends FMS notification of an individual's liability for a...

  13. Perceptions of the Software Skills of Graduates by Employers in the Financial Services Industry

    Science.gov (United States)

    Kyng, Tim; Tickle, Leonie; Wood, Leigh N.

    2013-01-01

    Software, particularly spreadsheet software, is ubiquitous in the financial services workplace. Yet little is known about the extent to which universities should, and do, prepare graduates for this aspect of the modern workplace. We have investigated this issue through a survey of financial services employers of graduates, the results of which are…

  14. 31 CFR 537.202 - Prohibited exportation or reexportation of financial services to Burma.

    Science.gov (United States)

    2010-07-01

    ... reexportation of financial services to Burma. 537.202 Section 537.202 Money and Finance: Treasury Regulations... permit granted prior to July 29, 2003, the exportation or reexportation of financial services to Burma... BURMESE SANCTIONS REGULATIONS Prohibitions § 537.202 Prohibited exportation or reexportation of...

  15. Perceptions of the Software Skills of Graduates by Employers in the Financial Services Industry

    Science.gov (United States)

    Kyng, Tim; Tickle, Leonie; Wood, Leigh N.

    2013-01-01

    Software, particularly spreadsheet software, is ubiquitous in the financial services workplace. Yet little is known about the extent to which universities should, and do, prepare graduates for this aspect of the modern workplace. We have investigated this issue through a survey of financial services employers of graduates, the results of which are…

  16. The dilemma of service productivity and service innovation : An empirical exploration in financial services

    NARCIS (Netherlands)

    Aspara, Jaakko; Klein, Jan; Luo, Xueming; Tikkanen, Henrikki

    2017-01-01

    We conduct a systematic exploratory investigation of the effects of firms’ existing service productivity on the success of their new service innovations. Although previous research extensively addresses service productivity and service innovation, respectively, this is the first empirical study that

  17. Utilization of legal and financial services of partners in dementia care study.

    Science.gov (United States)

    Shrestha, Srijana; Judge, Katherine S; Wilson, Nancy L; Moye, Jennifer A; Snow, A Lynn; Kunik, Mark E

    2011-03-01

    Financial and legal services are unique needs of persons with dementia and their caregivers. This study examines their need for legal and financial assistance and the kinds of legal and financial services provided within Partners in Dementia Care, a telephone-based, care coordination and support service intervention delivered through a partnership between Veterans Affairs (VA) medical centers and local Alzheimer's Association chapters. Based on comprehensive assessment, and needs prioritization, care coordinators collaboratively planned action steps (specific behavioral tasks) with each caregiver/person with dementia to address the dyad's identified unmet needs. Results show that 51 (54.8%) of 93 dyads reported a need for legal and financial services. Action steps related to legal and financial need included education or assistance with legal services (27.27%), nonhealth-related financial benefits (32.32%), health-related financial benefits (21.21%), financial management/planning (9.09%), and financial support (10.1%). Comparable numbers of action steps were directed to VA (41.4%) and non-VA (58.6%) services.

  18. 服务企业顾客忠诚度测评研究%Research on Evaluation for Customer Loyalty of Service Firm

    Institute of Scientific and Technical Information of China (English)

    石丽

    2013-01-01

    围绕服务企业顾客忠诚的态度和行为两个关键因素,构建服务企业顾客忠诚度评价指标体系,根据评价指标特点,建立了顾客忠诚度评价模型,定量、科学、客观的评价服务企业顾客忠诚度,以期为提高服务企业顾客忠诚度提供参考.%According to the attitude and behavior of customer loyalty of service firm, the system of index on customer loyalty of service firm has been abstracted, moreover the model of evaluation for customer loyalty of service firm has been established. Based on this model, the results are quantitative, scientific, correct and can provide important reference on improving customer loyalty of service firm.

  19. Successful implementation effect of insurance services in money and capital financial markets

    Directory of Open Access Journals (Sweden)

    Nemat Tahmasebi

    2016-11-01

    Full Text Available One of the most important sectors of the economy of each country is capital market. Economic growth can lead to the development and prosperity of the capital market. On the other hand to achieve the desired economic development, without existence of effective financial institutions and appropriate equipment of financial resources, it is impossible. In this regard, efficient financial systems through seeking information about investment opportunities, integrate and mobilize savings, monitoring investments and exert corporate governance can facilitate the exchange of goods and services, distribution and risk management, reducing transaction costs and data analysis may lead to better allocation of resources and ultimately economic growth. Insurance companies and generally insurance industry in each country is the most important and active financial institutions operating in the financial market especially capital markets in addition to securing economic activity could have basic role in mobility of financial markets and providing funds to invest in the economic activity through the provision of insurance services. In this study, successful financial services of insurance and investment funds in insurance companies such as Dana, Alborz, and Asia have been studied in Tehran. According to the hypothesis, there is a significant correlation between successful implementation of insurance services and money and capital financial markets. There is a significant correlation between different types of insurance services (institution-building, instrument making, and general insurance policies and money and capital financial markets.

  20. Using cross-functional, cross-firm teams to co-create value: The role of financial measures

    OpenAIRE

    Enz, Matias; Lambert, Douglas M.

    2012-01-01

    Increasingly, the involvement of representatives from all major business functions in cross-functional, crossfirmteams is being viewed as a means to develop and maintain profitable business-to-business relationships.However, if the measurements of the value co-created in these relationships with customers and suppliers donot incorporate the financial outcomes of joint cross-functional initiatives, managers can be led to makedecisions that jeopardize the long-term profitabili...

  1. The Importance of Information Security for Financial Institutions and Proposed Countermeasures --With a Focus on Internet-Based Financial Services--

    OpenAIRE

    Bank of Japan

    2000-01-01

    In recent years, the development of information technology (IT) has brought with it a rapid increase in the use of open network systems, as typified by the Internet, to provide financial services. Concurrently, proper management of information security risks such as the risk of service interruptions, theft or alteration of data, impersonation and other events resulting from unauthorized access to the computer system is rapidly becoming critical. If these risks should occur and cause unauthori...

  2. Financial Consumer Protection in the EU : Towards a Self-Sufficient European Contract Law for Consumer Financial Services?

    NARCIS (Netherlands)

    Cherednychenko, O.O.

    2014-01-01

    The rapid expansion of European contract law in the field of consumer financial services gives rise to the question to what extent it is self-sufficient. A self-sufficient European contract law presupposes the existence of an EU-made and EU-enforced contract-related legal order which is largely dist

  3. Creating tomorrow's financial services organisations : unlocking the business benefits for total customer satisfaction

    OpenAIRE

    2012-01-01

    M.Comm. The aim of this study is to consider how to create tomorrow's financial services organisations. Information technology and business reengineering are important within financial services organisations and have a prominent role to play in using the long-term viability of the organisation. Customers' interaction with a new technology environment has resulted in higher levels of customer satisfaction with a corresponding demand for customised and specialised services instead of traditi...

  4. The importance of environmental champions for corporate energy management : comparing manufacturing firms to service sector businesses

    Energy Technology Data Exchange (ETDEWEB)

    Gliedt, T.; Parker, P. [Waterloo Univ., ON (Canada). Dept. of Geography and Environmental Management

    2010-07-01

    Businesses of all sizes and types use large amounts of energy and emit greenhouse gases and must therefore be included in community energy planning. As an environmentally sound alternative to standard grid electricity, green electricity is considered an important energy management option for organizations wishing to address climate change. Businesses that voluntarily purchase green electricity include multi-national corporations in the primary and secondary sectors, such as agriculture, mining and manufacturing. They consume large quantities of energy and therefore have large environmental footprints. Smaller tertiary and quaternary sector businesses such as retail, health care and education, consume less energy but are also voluntarily purchasing green electricity. This paper examined if the factors that influence the decision process to purchase green electricity differ between primary and secondary sector firms, and smaller tertiary and quaternary businesses. Two models were outlined describing factors that influence proactive environmental management initiatives in firms. A summary of the corporate health and safety and total quality management literature was used to question if institutional experience with those established structures should spillover and support energy management initiatives. The results of a cluster analysis suggested that primary and secondary firms, as well as smaller and less hierarchical tertiary and quaternary businesses, are strongly influenced by environmental champions to voluntarily purchase green electricity. 41 refs., 3 tabs., 2 figs.

  5. Transformation of Manufacturing Firms to Servitisation Firms

    DEFF Research Database (Denmark)

    Lin, Chih-Cheng; Ma, Zheng; Tanev, Stoyan

    2014-01-01

    It is crucial for the manufacturing SMEs to reconsider their business strategy in order to be able to launch customer-centric solutions. This ability is associated with a paradigm shift from a product-orientation to service-orientation. One of the major challenges to success in transforming...... a traditional manufacturing firm to service-oriented firms is the conspicuous lack of publications in this research stream. Applying a case study research approach, this study explores the transformation model for manufacturing SMEs to servitisation firms by adopting a network approach, and reveals...

  6. Transformation of Manufacturing Firms to Servitisation Firms

    DEFF Research Database (Denmark)

    Lin, Chih-Cheng; Ma, Zheng; Tanev, Stoyan

    2014-01-01

    a traditional manufacturing firm to service-oriented firms is the conspicuous lack of publications in this research stream. Applying a case study research approach, this study explores the transformation model for manufacturing SMEs to servitisation firms by adopting a network approach, and reveals......It is crucial for the manufacturing SMEs to reconsider their business strategy in order to be able to launch customer-centric solutions. This ability is associated with a paradigm shift from a product-orientation to service-orientation. One of the major challenges to success in transforming...

  7. 75 FR 43557 - TA-W-73,682, Hartford Financial Services Group, Incorporated, Medical Bill Processing and...

    Science.gov (United States)

    2010-07-26

    ... Employment and Training Administration TA-W-73,682, Hartford Financial Services Group, Incorporated, Medical...; TA-W-73,682A, Hartford Financial Services Group, Incorporated Medical Bill Processing and Production... Financial Services Group, Incorporated, Medical Bill Processing and Production Center Support,...

  8. Impact of firm-level factors and market entry mode on performance: A study of service MNCs in an emerging economy

    Directory of Open Access Journals (Sweden)

    George Acheampong

    2012-04-01

    Full Text Available The study examined the market entry strategies of multinational services companies into Ghana’s service sector and the linkages to firm level performance after entry. Literature was reviewed on market entry strategies, internationalisation, globalisation of service firms and resource-based theory. The study adopted a combination of both quantitative and qualitative research approaches in this study. The qualitative approach was for deeper enquiry and quantitative for empirical testing. The study found that firm specific factors affect the market entry strategy while the entry strategy also affects performance after it enters the market. Home country factors and the features of services are also seen to moderate on the effects mentioned. Respondents also indicated that the features of services were an industry wide issue not so much consideration is given to it.

  9. Development and Creation of Competitive Advantages in the Function of Marketing Services in Financial Institutions

    Directory of Open Access Journals (Sweden)

    Fatos UKAJ

    2016-09-01

    Full Text Available The marketing of the financial services by financial institution is regarded as an easier job. This is due to the fact that, in most cases, when a client is gained, he/she remains loyal to the institution on a long term. Nowadays, taking into consideration the needs of the consumers - clients who are undergoing a constant change - financial institutions are faced with a necessity to have the required knowledge and information regarding what and how to meet the needs of their clients. Financial institutions have reached a stage of adapting their daily activities with the demands of their clients. Thus, this is due to the available information which deals with the needs of the clients, opportunities of financial institution themselves, structural changes in the services provided, and the changes in the market which includes competition. This paper will strive to present the stages of the marketing development in financial institutions through the acquisition of knowledge regarding the finances and marketing of these services. It also involves the current concept and approach towards marketing by financial institutions in Kosovo. Adopting new approaches would satisfy the client and would strengthen the position of financial institution. In addition, through this analysis, we will try to show the importance of including the concept of marketing in the operations and strategies of financial institutions for a successful business.

  10. Human Resource Management in Professional Services Firms: Too Good to be True?

    DEFF Research Database (Denmark)

    Bévort, Frans; Poulfelt, Flemming

    2015-01-01

    ? This paper analyzes the ways HR specialists and PSF managers/partners differ in their understanding of organizations and their management. The analysis supports the argument that, while HR specialists and the discipline of HRM are governed by bureaucratic logic in their approach to management, PSF managers...... of institutional logics to HRM practice in PSFs. The paper builds on interviews with five HR managers who have held positions in PSFs, as well as a longitudinal case study of PSF managers in one of the 'Big Four' accounting firms. The paper offers a number of tentative proposals around how HRM and PSFs might...... transcend the described gulf between the two approaches to management....

  11. Training Social Workers and Human Service Professionals to Address the Complex Financial Needs of Clients

    Science.gov (United States)

    Frey, Jodi Jacobson; Hopkins, Karen; Osteen, Philip; Callahan, Christine; Hageman, Sally; Ko, Jungyai

    2017-01-01

    In social work and other community-based human services settings, clients often present with complex financial problems. As a need for more formal training is beginning to be addressed, evaluation of existing training is important, and this study evaluates outcomes from the Financial Stability Pathway (FSP) project. Designed to prepare…

  12. Financial Services Advertising before and after the Crash of 1987.

    Science.gov (United States)

    Everett, Stephen E.

    1988-01-01

    Examines institutional changes in advertising before and after the stock market "crash" of 1987 as represented in the "Wall Street Journal." Finds that financial institutions increased the frequency and size of ads after the crash. (RS)

  13. The Adoption of Digital Marketing in Financial Services under Crisis

    Directory of Open Access Journals (Sweden)

    Daj A.

    2009-12-01

    Full Text Available Led by social media, online search, consumer generated content, virtual communities, and considering the increased focus on digital technologies, the longer-term prospects for digital marketing and the global online medium continue to be bright. Given the recent decline of the financial markets and the economic fallout, financial institutions have to implement new digital marketing techniques both for cost optimization and for dealing with the crisis of confidence.

  14. Financial sustainability planning for immunization services in Cambodia.

    Science.gov (United States)

    Soeung, Sann Chan; Grundy, John; Maynard, Jim; Brooks, Alan; Boreland, Marian; Sarak, Duong; Jenkinson, Karl; Biggs, Beverley-Ann

    2006-07-01

    The expanded programme of immunization was established in Cambodia in 1986. In 2002, 67% of eligible children were immunized, despite significant health sector and macro-economic financial constraints. A financial sustainability planning process for immunization was introduced in 2002, in order to mobilize national and international resources in support of the achievement of child health objectives. The aim of this paper is to outline this process, describe its early impact as an advocacy tool and recommend additional strategies for mobilizing additional resources for health. The methods of financial sustainability planning are described, including the advocacy strategies that were applied. Analysis of financial sustainability planning results indicates rising programme costs associated with new vaccine introduction and new technologies. Despite this, the national programme has demonstrated important early successes in using financial sustainability planning to advocate for increased mobilization of national and international sources of funding for immunization. The national immunization programme nevertheless faces formidable system and financial challenges in the coming years associated with rising costs, potentially diminishing sources of international assistance, and the developing role of sub-national authorities in programme management and financing.

  15. 75 FR 10704 - International Services Surveys: BE-180, Benchmark Survey of Financial Services Transactions...

    Science.gov (United States)

    2010-03-09

    ..., and commodity contracts brokerage); securities and commodity exchanges; other financial investment... financial investment activities); insurance carriers; insurance agencies, brokerages, and other insurance..., trusts, estates, and agency accounts, real estate investment trusts, and other financial vehicles); and...

  16. The full financial costs of irrigation services: A discussion on existing ...

    African Journals Online (AJOL)

    The full financial costs of irrigation services: A discussion on existing ... and the lack of a standard basis for calculation under tropical, developing conditions (e.g. ... and available information replace the original set, especially for capital costs.

  17. Banks and Financial Services, Banks and Churches, Published in 2008, Iron County.

    Data.gov (United States)

    NSGIC GIS Inventory (aka Ramona) — This Banks and Financial Services dataset, was produced all or in part from Other information as of 2008. It is described as 'Banks and Churches'. The extent of...

  18. A Quantitative Approach Regarding the Evolution of the Romanian Tourism Firms, During and After the Global Financial Crisis

    Directory of Open Access Journals (Sweden)

    Vasile Alecsandru Strat

    2016-11-01

    Full Text Available The main goal of this research paper is to provide a quantitative assessment of the Romanian tourism industry (hotels and restaurants from a county level perspective, in the specific context of the global financial recession and in the post -recession one. The evolution of the field is analyzed for the period 2008-2014 using county level data sourced from the National Institute of Statistics and from the Office of the Trade Register. The evolution of the main characteristics of the field: number of companies, number of employees, total turnover of the companies from the field and number of newly established companies, suggest the existence of significant disparities at the county level. The research reveals the fact that the total number of employees from the field (companies which have sent the final year documentation to the MPF has decreased during the analyzed period with over 20%, fact that is a clear indicator of the magnitude of the effects of the crisis. The analysis of the disparities has revealed that Bucharest which is the most important concentration pole in this field, accounting for almost 11% from the total number of companies in 2008, has diminished its importance to little under 8.7%, in 2014. Using panel data regression we have identified some of the main characteristics of the Romanian counties that can be considered as indicators of the development perspectives of the tourism (hotels and restaurants at county level (NUTS 3.

  19. Searching for the Mecca of finance: Islamic financial services and the world city network

    OpenAIRE

    Bassens, David; Derudder, Ben; Witlox, Frank

    2010-01-01

    This paper presents an analysis of the geography of the booming 'Islamic financial services' (IFS) sector, which provides a host of financial services based on Islamic religious grounds. The relevance of such an analysis is discussed against the conceptual backdrop of the world city network literature. It is argued that a focus on the globalisation of the IFS sector may provide an alternative to hegemonic geographical imaginations of world city-formation through its focus on other forms of gl...

  20. Financial Services for the Poor: Lack of Personal Identification Documents Impedes Access

    OpenAIRE

    Nicola Jentzsch

    2009-01-01

    Without a birth certificate, no identity card can be issued and without identity card, there is no access to formal financial services. This link seems to be trivial in industrialized countries, where the ability of the individual to participate in economic life is rarely hindered by a lack of identification. In many developing countries, however, access to financial services is often denied, because potential customers cannot be identified based upon official identity documents-a basic due d...

  1. Performance in Consumer Financial Services Organizations: Framework and Results from the Pilot Study

    OpenAIRE

    Frances X. Frei; Harker, Patrick T.; Larry W. Hunter

    1995-01-01

    Financial services comprise over 4 percent of the gross domestic product of the United States and employ over 5.4 million people. By offering vehicles for investment of savings, extension of credit and risk management, they fuel the modern capitalistic society. While the essential functions performed by the organizations that make up the financial services industry have remained relatively constant over the past several decades, the structure of the industry has undergone dramatic change. Lib...

  2. Marimuthu Munien V BMW Financial Services (SA (PTY LTD Unreported

    Directory of Open Access Journals (Sweden)

    C van Heerden

    2009-12-01

    Full Text Available Section 129(1(a read with section 130(1 and 130(3 of the National Credit Act 34 of 2005 (the NCA provides that, as a required procedure before debt enforcement, a credit provider must draw the default to the consumer's notice in writing and propose that the consumer refer the credit agreement to a debt counsellor, alternative dispute resolution agent, consumer court or ombud with jurisdiction, with the intent that the parties resolve any dispute under the agreement or develop and agree on a plan to bring the payments under the agreement up to date. Even though section 129(1(a is silent as to the method by which the default should be brought to the consumer's notice, section 130(1(a provides clarity by requiring the section 129(1(a notice to be delivered. It appears that a credit provider who fails to comply with the provisions of section 129(1(a prior to debt enforcement by means of litigation will be in a procedural predicament as the credit provider will not possess a complete cause of action thus, for instance, rendering the summons excipiable. The crucial question thus appears to be whether or not in a given situation one may say that there was proper compliance with section 129(1(a as this directly affects the existence or absence of a complete and proper cause of action. A number of factors has to be considered in order to address this question, the most important being if the section 129(1(a notice was duly 'delivered'. In this regard two questions are especially relevant:a When exactly can it be said that a section 129(1(a notice was 'delivered' for purposes of the NCA?b Is it necessary for such notice to be received by the consumer in order to constitute proper compliance with the delivery requirement pertaining to section 129(1(a?The above questions were decided on in a recent judgment, Marimuthu Munien v BMW Financial Services (SA (Pty Ltd Case no 16103/08 (KZD (unreported. This article will analyse section 129(1(a of the NCA by inter

  3. Financial services liberalization in transition countries and the role of the WTO

    Directory of Open Access Journals (Sweden)

    Prica Ivana

    2010-01-01

    Full Text Available While a bulk of economic theoretical and empirical research deals with various aspects of financial liberalization, there is far less research devoted to the measurement of financial liberalization. In this paper we calculate an index of financial liberalization in 18 transition countries in the Central, Eastern and South-East Europe (CESE and the Commonwealth of Independent States (CIS. This index was previously developed in works of Aaditya Mattoo (1999 to measure financial liberalization that the WTO member countries have committed to. We make a slight modification to scaling to take into account the specific aspects of CESE and CIS countries and also apply the index to a non- WTO member (Serbia using its currently applied regime. In this paper we will examine the influence of the General Agreement on Trade in Services (GATS framework on liberalization commitments in financial services sector in the target countries.

  4. The structure of boards of directors and firm performance in Finnish banking : focus on size and gender diversity

    OpenAIRE

    Sääksmäki, Kasimir

    2015-01-01

    Banking and financial services in general are much regulated industries worldwide and therefore it is important to find out how the composition of boards of directors affects firm performance. Banking and finance sector has a remarkable role in financing other industries and households, which makes it a powerful industry. The recent banking crises have shown the consequences of weak firm performance, which has led to more interest on different factors and predictors behind firm performance in...

  5. Financial Services to the Unbanked: the case of the Mzansi intervention in South Africa

    Directory of Open Access Journals (Sweden)

    Philip Kostov

    2014-06-01

    Full Text Available The Mzansi intervention is a major initiative designed to provide banking services to the unbanked South African population. This study investigates the underlying variables that define the choice of a Mzansi account from a consumer perspective. Unlike previous studies, we do not assume that demand for financial services is a given but instead that it is underlain by perceptions and attitudes. Financial attitudes and perceptions are found to exert significant effects on financial choices. In particular, aspirations and forward-looking values are instrumental in facilitating access to finance.

  6. Financial services FY 1995 site support program plan WBS 6.10.4

    Energy Technology Data Exchange (ETDEWEB)

    Vodney, E.P.

    1994-09-01

    This is the signed Financial Service fiscal year 1995 Site Support Program Plan, Work Breakdown Structure 6.10.4, for the Hanford site. This plan is intended to enable the contractor to accomplish the following: ensure financial integrity in all Westinghouse Hanford Company (WHC) operation while supporting the programmatic activities of WHC, the US Department of Energy, Richland Operations Office, and other Hanford contractors; provide efficient and effective financial services, and value added audits and review that enable management to enhance future operational results.

  7. Evaluation of logistic service level of an automotive parts distribution firm

    Directory of Open Access Journals (Sweden)

    Fábio Germano Cardoso

    2014-11-01

    Full Text Available The stock management theories have a mathematical and statistical trend, usually failing in exposing the business side of decisions regarding inventory costs and the related service levels. The article tests the theory of defining the service level by building the profit mathematical model, using for such some available historical data. With this theory it is possible to find the optimal service level by deriving the profit curve and equaling the marginal profit to zero. The research is characterized as a case research of an auto parts distribution company. The calculated optimal service level was compared to the data available from the company. The results of such analysis revealed the fact that only the theory of calculating the optimal service level through the profit curve derivation is not sufficient to explain how the company defines which service level is going to be used.

  8. Application of 'Process management' methodology in providing financial services of PE 'Post Serbia'

    Directory of Open Access Journals (Sweden)

    Kujačić Momčilo D.

    2014-01-01

    Full Text Available The paper describes application of the methodology 'Process management', in providing of financial services at the post office counter hall. An overview of the methodology is given, as one of the most commonly used qualitative methodology, whereby Process management's technics are described , those can better meet user needs and market demands, as well as to find more effectively way to resist current competition in the postal service market. One of the main problem that pointed out is a long waiting time in the counter hall during providing financial services, which leads to the formation of queue lines, and thus to customer dissatisfaction. According that, paper points steps that should be taken during provide of financial services in a postal network unit for providing services to customers by optimizing user time waiting in line and increasing the satisfaction of all participants in that process.

  9. Perceptions of the software skills of graduates by employers in the financial services industry

    Science.gov (United States)

    Kyng, Tim; Tickle, Leonie; Wood, Leigh N.

    2013-12-01

    Software, particularly spreadsheet software, is ubiquitous in the financial services workplace. Yet little is known about the extent to which universities should, and do, prepare graduates for this aspect of the modern workplace. We have investigated this issue through a survey of financial services employers of graduates, the results of which are reported in this paper, as well as surveys of university graduates and academics, reported previously. Financial services employers rate software skills as important, would like their employees to be more highly skilled in the use of such software, and tend to prefer 'on-the-job' training rather than university training for statistical, database and specialized actuarial/financial software. There is a perception among graduates that employers do not provide adequate formal workplace training in the use of technical software.

  10. 连锁董事、财务绩效和公司价值%Interlocking Directorate, Financial Performance and Firm Value

    Institute of Scientific and Technical Information of China (English)

    田高良; 李留闯; 齐保垒

    2011-01-01

    This study analyzed the relationship between interlocking directorate and financial performance, firm value from corporate and investor perspective, by using OLS regressions.Annual connected networks of interlocking directorate were formed using the data of listed firms from the year 1999 to 2008.Based on social network analysis and graph theory, degree centrality and betweenness centrality were took as the proxy of the quantity of interlocking links, and eigenvector centrality was employed to capture the quality of interlocking directorate.A correlation analysis shows there is a difference between number and quality of interlock links.We find that three centrality measures have positive impact on ROA of listed firms in next three years, the change of ROA is consistent with change of centrality measures.The result is robust to use of return on sales as a proxy of ROA.Further test indicates that there is a positive relationship between centrality measures and Tobin's Q, implying that investors value interlocking directorate.Firm value can reveal the long term growth effect and its economic value to be as the intangible assets and real options.%从企业和投资者两个视角分析连锁董事与财务绩效、公司价值之间的关系,采用最小二乘法进行实证检验.以1999年至2008年中国上市公司为样本构建纵列截面数据,分年度建立联通连锁董事网络,借鉴社会网络分析和图论理论,采用居中中心度和中介中心度测度连锁关系的数量,采用向量中心度测度连锁关系的质量.研究结果表明,连锁关系质量和数量的相关性低,涵盖的信息不同;连锁关系越多、越重要,上市公司后续3年的资产收益率越高,并且连锁关系的变动和资产收益率的变化呈动态一致性.用营业利润率代替资产收益率,实证结果也是稳健的.进一步研究还发现,连锁关系对上市公司的Tobin's Q值有正向影响,说明公司价值能有效地捕捉连锁关

  11. Piloting the older adult financial exploitation measure in adult safeguarding services.

    Science.gov (United States)

    Phelan, A; Fealy, G; Downes, C

    2017-01-27

    Financial abuse is arguably the most complex form of elder abuse as it may occur remote to the older person and it is impacted by issues such as cultural values, perpetrator intent and family expectations. Financial abuse may not be recognised by either the older person or the perpetrator, thus, its prevention, early identification and amelioration are important. The (Irish) National Centre for the Protection of Older People undertook a study to determine the appropriateness of the Older Adult Financial Exploitation Measure for use by the national safeguarding older person services. Findings from a small pilot study involving 16 safeguarding staff's use of the Older Adult Financial Exploitation Measure with 52 community dwelling older people referred to their service demonstrate a higher suspicion of financial abuse as well as identifying multiple instances of possible financial exploitation in a single individual. Thus, the Older Adult Financial Exploitation Measure is considered appropriate to assist safeguarding personnel's assessment of older people related to a suspicion of financial abuse.

  12. Servitization: Disentangling the impact of service business model innovation on manufacturing firm performance

    NARCIS (Netherlands)

    Visnjic Kastalli, I.; van Looy, Bart

    2013-01-01

    As manufacturing businesses operate in an ever more competitive, global economy where products are easily commoditized, innovating by adding services to the core product offering has become a popular strategy. Contrary to the economic benefits expected, recent findings pinpoint implementation

  13. The financial value of services provided by a rural community health fair.

    Science.gov (United States)

    Dulin, Mary Katherine; Olive, Kenneth E; Florence, Joseph A; Sliger, Carolyn

    2006-11-01

    There has been little discussion in the literature regarding the financial value of the services provided to the participants in health fairs. This article examines the financial value of preventive services provided through a community health fair in an economically depressed area of southwest Virginia. Current Procedural Terminology codes were assigned to the services provided in order to estimate costs participants might incur for such services. An average 50-year-old man would have paid up to $320 to obtain commonly recommended preventive services available free at the fair. An average 50-year-old woman would have paid up to $495. Overall, over $58,000 in services were provided through the health fair. This community health fair provided preventive services that many participants otherwise might have found to be cost-prohibitive.

  14. 海运公司承办海葬%Shipping Firm to Offer Funeral ServiceFrom Reuters

    Institute of Scientific and Technical Information of China (English)

    黄菊妹

    2001-01-01

    @@ Japan's largest shipping company, Nippon Yusen KK, plans to offer a newfuneral ash-scattering service in a bid to (释义见 19 页文) capitalize on demandfuelled by the high cost of cemeteries in Japan, a financial daily said Sunday. 日本最大的海运公司Nippon Yusen KK打算提供新的骨灰海葬服务,以求赢利.日本的公墓的价格居高不下,刺激了骨灰海葬的需求.一份金融日报星期日称.

  15. 75 FR 1683 - Financial Management Service; Proposed Collection of Information: Assignment Form

    Science.gov (United States)

    2010-01-12

    ... Fiscal Service Financial Management Service; Proposed Collection of Information: Assignment Form AGENCY... concerning the form ``Assignment Form.'' DATES: Written comments should be received on or before March 15... information described below: Title: Assignment Form. OMB Number: 1510-0035. Form Number: None. Abstract: This...

  16. Achieving Service-Learning Goals in a Financial Accounting Class Project

    Science.gov (United States)

    Yu, Darwin D.

    2011-01-01

    Background: A financial accounting class in a Philippine university has a service-learning group project that involves setting up a simple accounting system for microenterprises. Aims: This paper examines the extent to which service-learning goals such as course learning, teamwork, civic responsibility, and impact on the client organization are…

  17. The Revolution in Banking and the Financial Services Industry. Series on Public Issues No. 11.

    Science.gov (United States)

    Fraser, Donald R.

    It is the premise of this booklet, one of a series intended to apply economic principles to major social and political issues of the day, that a revolution in the banking and financial services industry is altering not only the fundamental nature of the services offered but the character of the organizations themselves. The purpose of the essay is…

  18. Service-Learning in the Financial Planning Curriculum: Expanding Access to the Community

    Science.gov (United States)

    Annis, Paul M.; Palmer, Lance; Goetz, Joseph

    2010-01-01

    Service-learning projects are a cornerstone of student experiential learning. Such programs have proven to be mutually beneficial to communities and students within a variety of family and consumer sciences courses. However, there is a paucity of literature addressing service-learning efforts within the field of financial planning. There is an…

  19. REGRESSION MODEL FOR RISK REPORTING IN FINANCIAL STATEMENTS OF ACCOUNTING SERVICES ENTITIES

    Directory of Open Access Journals (Sweden)

    Mirela NICHITA

    2015-06-01

    Full Text Available The purpose of financial reports is to provide useful information to users; the utility of information is defined through the qualitative characteristics (fundamental and enhancing. The financial crisis emphasized the limits of financial reporting which has been unable to prevent investors about the risks they were facing. Due to the current changes in business environment, managers have been highly motivated to rethink and improve the risk governance philosophy, processes and methodologies. The lack of quality, timely data and adequate systems to capture, report and measure the right information across the organization is a fundamental challenge for implementing and sustaining all aspects of effective risk management. Starting with the 80s, the investors are more interested in narratives (Notes to financial statements, than in primary reports (financial position and performance. The research will apply a regression model for assessment of risk reporting by the professional (accounting and taxation services for major companies from Romania during the period 2009 – 2013.

  20. REGRESSION MODEL FOR RISK REPORTING IN FINANCIAL STATEMENTS OF ACCOUNTING SERVICES ENTITIES

    Directory of Open Access Journals (Sweden)

    Mirela NICHITA

    2015-06-01

    Full Text Available The purpose of financial reports is to provide useful information to users; the utility of information is defined through the qualitative characteristics (fundamental and enhancing. The financial crisis emphasized the limits of financial reporting which has been unable to prevent investors about the risks they were facing. Due to the current changes in business environment, managers have been highly motivated to rethink and improve the risk governance philosophy, processes and methodologies. The lack of quality, timely data and adequate systems to capture, report and measure the right information across the organization is a fundamental challenge for implementing and sustaining all aspects of effective risk management. Starting with the 80s, the investors are more interested in narratives (Notes to financial statements, than in primary reports (financial position and performance. The research will apply a regression model for assessment of risk reporting by the professional (accounting and taxation services for major companies from Romania during the period 2009 – 2013.

  1. Finansal Risklerin Yönetilmesinde Türev Ürünlerin Kullanımı: Borsa İstanbul (Bist 100 Endeksi’ndeki Şirketler Üzerine Bir Araştırma (Usage Derivatives In Management Financial Risks: A Study On Firms In Borsa Istanbul (Bist 100 Stock Index

    Directory of Open Access Journals (Sweden)

    Erdal YILMAZ

    2016-03-01

    Full Text Available Firms that experience risks as a result of their activities, use various tools to manage these risks and be protected against them. One of the most significant tools used for protection against financial risks is derivatives. Derivatives used by firms to eliminate the financial risks caused by uncertainty, future price changes and other factors, contribute to diminish fluctuations on future prices and market mechanism to operate in a reliable environment. In this study, after informing about primary derivative products, research is focused on the level of usage of derivatives against risks caused by financial tools by firms registered on BIST 100 stock index operating in other than financial sector and which derivative products are being used by mentioned firms. In the result, it is founded that in 2013, 36 % of the firms and in 2014, 45 % of the firms in the context of the study use derivative products against financial risks. It is also founded that firms use swap contracts against interest risks, and futures contracts are preferred by firms against exchange risk. In addition to this, option contracts are mostly used against other price risks.

  2. Why Advisory Services in Small Firm Ownership Transfers Fail : Three Policy Recommendations to Improve Support

    NARCIS (Netherlands)

    Teeffelen, Lex van

    2011-01-01

    Many policy makers are unaware of the pitfalls in ownership transfers in SMEs and the inadequate advisory services. This paper presents the economic importance of business transfers, the research evidence to date on the main issues in ownership changes and discusses potential policies to reduce (adv

  3. Servitization: Disentangling the impact of service business model innovation on manufacturing firm performance

    NARCIS (Netherlands)

    Visnjic Kastalli, I.; Looy, van B.E.J.

    2013-01-01

    As manufacturing businesses operate in an ever more competitive, global economy where products are easily commoditized, innovating by adding services to the core product offering has become a popular strategy. Contrary to the economic benefits expected, recent findings pinpoint implementation hurdle

  4. Servitization: Disentangling the impact of service business model innovation on manufacturing firm performance

    NARCIS (Netherlands)

    Visnjic Kastalli, I.; van Looy, Bart

    2013-01-01

    As manufacturing businesses operate in an ever more competitive, global economy where products are easily commoditized, innovating by adding services to the core product offering has become a popular strategy. Contrary to the economic benefits expected, recent findings pinpoint implementation hurdle

  5. Rebalancing the geographies of financial services power : the role of sovereign wealth funds.

    OpenAIRE

    Faulconbridge, James

    2010-01-01

    As part of debates about the causes, consequences and political ramifications of the credit crisis and ensuing recession (for a summary of which see Engelen and Faulconbridge, 2009), questions about the changing geographies of power in the financial services sector have elicited interest both in academic and media circles in recent years. Aalbers (2009, 39) suggests that we are witnessing a change in the powerfulness of incumbent financial centres such as London and New York as a multi-polar ...

  6. 75 FR 22853 - D-11456, PNC Financial Services Group, Inc.; and D-11602, State Street Bank and Trust Company, et...

    Science.gov (United States)

    2010-04-30

    ... Employee Benefits Security Administration D-11456, PNC Financial Services Group, Inc.; and D-11602, State... purposes of this exemption: (a) The term ``PNC'' means The PNC Financial Services Group, Inc., and any... PNC or its affiliates from the Funds in connection with providing certain secondary services,...

  7. 25 CFR 20.102 - What is the Bureau's policy in providing financial assistance and social services under this part?

    Science.gov (United States)

    2010-04-01

    ..., DEPARTMENT OF THE INTERIOR HUMAN SERVICES FINANCIAL ASSISTANCE AND SOCIAL SERVICES PROGRAMS Definitions... this part to eligible Indians when comparable financial assistance or social services are either not... 25 Indians 1 2010-04-01 2010-04-01 false What is the Bureau's policy in providing...

  8. 77 FR 40413 - Third-Party Provision of Ancillary Services; Accounting and Financial Reporting for New Electric...

    Science.gov (United States)

    2012-07-09

    ... 101 Third-Party Provision of Ancillary Services; Accounting and Financial Reporting for New Electric... 101 Third-Party Provision of Ancillary Services; Accounting and Financial Reporting for New Electric... of its current market-based rate regulations, ancillary services requirements under the pro forma...

  9. FINANCIAL LITERACY, FINANCIAL EDUCATION AND ECONOMIC OUTCOMES

    OpenAIRE

    Hastings, Justine S.; Brigitte C. Madrian; Skimmyhorn, William L.

    2013-01-01

    In this article we review the literature on financial literacy, financial education, and consumer financial outcomes. We consider how financial literacy is measured in the current literature, and examine how well the existing literature addresses whether financial education improves financial literacy or personal financial outcomes. We discuss the extent to which a competitive market provides incentives for firms to educate consumers or offer products that facilitate informed choice. We revie...

  10. Quantitative marketing research on the use of specialised financial advice by the segment of SMEs

    Directory of Open Access Journals (Sweden)

    Nicolae, C. M.

    2013-12-01

    Full Text Available The article presents the results of a survey conducted among small and medium companies in Braşov County, on the frequency of using specialized financial advisory services. It highlights the typology and content of financial advisory services used by companies in the SME sector in Romania. The study results will underpin the construction of a marketing mix for financial advisory firms who intend to adapt their offer of services according to client profile.

  11. Financial Constraints and the Risk-Return Relation

    OpenAIRE

    Tao Wang

    2007-01-01

    Stock return volatilities are related to firms' financial status. Financially constrained firms are more volatile. Their stock return volatilities react more negatively to lagged return changes than financially unconstrained firms. This strong negative relation between volatilities and lagged returns for financially constrained firms are not affected by industry differences or firm leverage. Moreover, the debt-equity ratio is not as important as financial constraints for the firm-level risk-r...

  12. Relationship between risk and transparency in the financial statements of professional services entities

    Directory of Open Access Journals (Sweden)

    Mirela Elena Nichita

    2016-05-01

    Full Text Available The purpose of financial reports is to provide useful information to users; the utility of information is defined through the qualitative characteristics (fundamental and enhancing. The financial crisis emphasized the limits of financial reporting, which has been unable to prevent investors about the risks they were facing. Due to the current changes in business environment, managers been highly motivated to rethink and improve the risk governance philosophy, processes and methodologies. The lack of quality, timely data and adequate systems to capture, report and measure the right information across the organization are fundamental challenges to implementing and sustaining all aspects of effective risk management. Starting from ‘80s, the investors have become more interested in narratives (from the Notes to financial statements, than in primary reports (which disclose financial position and performance. In this research, we aim to identify whether the accounting services entities disclose risk information in their financial statements. The research will use a regression model for the assessment of the relationship between the size, profitability, leverage ratios and risk reporting by the accounting and taxation services providers in Romania during the period 2009-2013

  13. Should firms always invest in corporate social responsibility? Whether, when, and how?

    OpenAIRE

    Chatterjee, Prabirendra

    2015-01-01

    Firms in various markets such as health care, financial services, software, consumer goods etc. spend significant amount of money on corporate social responsibility (CSR) activities. The literature suggests that consumers take into consideration firmsí CSR activities when making purchase decisions and this leads to either an increase in willingness to pay or an increase in purchase intention. Unfortunately, notwithstanding its strategic beneÖts, the empirical Öndings regarding the impact o...

  14. Applying Lean and Six Sigma in financial service

    NARCIS (Netherlands)

    Does, R.J.M.M.; de Koning, H.; Anthony, J.; Kumar, M.

    2006-01-01

    Abstract Lean and Six Sigma have gone through parallel developments in recent years. Originally applied to a small range of industries, both approaches are now also used widely in healthcare, administration and service. A recent development is the integration of the two approaches. In this paper we

  15. Applying Lean and Six Sigma in financial service

    NARCIS (Netherlands)

    Does, R.J.M.M.; de Koning, H.; Anthony, J.; Kumar, M.

    2006-01-01

    Abstract Lean and Six Sigma have gone through parallel developments in recent years. Originally applied to a small range of industries, both approaches are now also used widely in healthcare, administration and service. A recent development is the integration of the two approaches. In this paper we

  16. THE IMPACT OF PSYCHOLOGICAL CONTRACT ON RELATIONSHIP QUALITY IN FINANCIAL SERVICES MARKET

    Directory of Open Access Journals (Sweden)

    Mario Pepur

    2013-02-01

    Full Text Available The theoretical arguments of the psychological contracts arise from the social exchange theory. According to this theory, all the parties involved in any type of relationships want to build a relationship based on mutual respect and fairness. The main goal of this paper is to explore the influence that psychological contracts have on the quality of the business-to-business relationship in the financial services market. The research conducted in this paper continued the pioneer work of Kingshott and Pecotich (2007 and by extending their conceptual model it provided the theoretical and practical insights specific to the business-to-business market. In the empirical part of the paper, the relationship between hotels and financial institutions in the Republic of Croatia is tested using the canonical correlation analysis. The results of the analysis confirm that the psychological contracts have an influence on the relationship quality between the partners in the financial services market.

  17. Financial Services in the Doha Round and China's Commitments

    Institute of Scientific and Technical Information of China (English)

    WelfWerner

    2004-01-01

    Current negotiations on financial services at the WTO are concerned with improving liberalization commitments over the Financial Services Agreement which became an integral part of the General Agreement on Trade in Services (GATS) in 1997. Important underlying issues of these negotiations are member states' policy decisions in two particular areas: capital account liberalization and prudential regulation. These decisions not only determine the member countries' scope for liberalization,, the liberalization commitments in turn also limit the scope of national economic poliey in these two areas. Taking these characteristics offinancial services talks into account, there are two major goals for the ongoing negotiations:for industrialized countries to make progress with respect to trade business and for developing countries and emerging-market economies to concentrate on improving market access on an established basis. For China, the most important goal is to implement the far-reaching liberalization commitments that were made in the context of its accession to the WTO in December 2001.

  18. THE IMAGE OF INVESTMENT AND FINANCIAL SERVICES COMPANIES IN WWW LANDSCAPE (WORLD WIDE WEB

    Directory of Open Access Journals (Sweden)

    Iancu Ioana Ancuta

    2011-07-01

    Full Text Available In a world where the internet and its image are becoming more and more important, this study is about the importance of Investment and Financial Services Companies web sites. Market competition, creates the need of studies, focused on assessing and analyzing the websites of companies who are active in this sector. Our study wants to respond at several questions related to Romanian Investment and Financial Services Companies web sites through four dimensions: content, layout, handling and interactivity. Which web sites are best and from what point of view? Where should financial services companies direct their investments to differentiate themselves and their sites? In fact we want to rank the 58 Investment and Financial Services Companies web sites based on 127 criteria. There are numerous methods for evaluating web pages. The evaluation methods are similar from the structural point of view and the most popular are: Serqual, Sitequal, Webqual / Equal EtailQ, Ewam, e-Serqual, WebQEM (Badulescu, 2008:58. In the paper: "Assessment of Romanian Banks E-Image: A Marketing Perspective" (Catana, Catana and Constantinescu, 2006: 4 the authors point out that there are at least four complex variables: accessibility, functionality, performance and usability. Each of these can be decomposed into simple ones. We used the same method, and we examined from the utility point of view, 58 web sites of Investment and Financial Services Companies based on 127 criteria following a procedure developed by Institut fur ProfNet Internet Marketing, Munster (Germany. The data collection period was 1-30 September 2010. The results show that there are very large differences between corporate sites; their creators are concentrating on the information required by law and aesthetics, neglecting other aspects as communication and online service. In the future we want to extend this study at international level, by applying the same methods of research in 5 countries from

  19. Designing financial-incentive programmes for return of medical service in underserved areas: seven management functions

    Directory of Open Access Journals (Sweden)

    Bärnighausen Till

    2009-06-01

    Full Text Available Abstract In many countries worldwide, health worker shortages are one of the main constraints in achieving population health goals. Financial-incentive programmes for return of service, whereby participants receive payments in return for a commitment to practise for a period of time in a medically underserved area, can alleviate local and regional health worker shortages through a number of mechanisms. First, they can redirect the flow of those health workers who would have been educated without financial incentives from well-served to underserved areas. Second, they can add health workers to the pool of workers who would have been educated without financial incentives and place them in underserved areas. Third, financial-incentive programmes may improve the retention in underserved areas of those health workers who participate in a programme, but who would have worked in an underserved area without any financial incentives. Fourth, the programmes may increase the retention of all health workers in underserved areas by reducing the strength of some of the reasons why health workers leave such areas, including social isolation, lack of contact with colleagues, lack of support from medical specialists and heavy workload. We draw on studies of financial-incentive programmes and other initiatives with similar objectives to discuss seven management functions that are essential for the long-term success of financial-incentive programmes: financing (programmes may benefit from innovative donor financing schemes, such as endowment funds, international financing facilities or compensation payments; promotion (programmes should use tested communication channels in order to reach secondary school graduates and health workers; selection (programmes may use selection criteria to ensure programme success and to achieve supplementary policy goals; placement (programmes should match participants to areas in order to maximize participant satisfaction and

  20. Financial structure signalling to auditors` pricing

    Directory of Open Access Journals (Sweden)

    Etumudon Ndidi ASIEN

    2017-05-01

    Full Text Available This paper empirically examines capital structure signalling to auditors. Financial structure has adverse selection that can negatively affect auditors’ perception of firm value or risk, which can lead the auditor to charge high price. We expect firms’ financial structure to positively relate with auditors’ pricing. Using panel data analysis methodology to analyse data of 311 firm-year observations of non-finance firms covering the period 2012-2015, pooled OLS regression results suggest that financial structure is positively related to auditors’ price. We find that equity, but not debt, is significantly related to auditors’ price. These results hold after controlling for auditor type. The positive relations suggest lower perceptions of firm value (hence high risk by auditors, thereby making firms to pay higher auditors’ price. This suggests that auditors penalise equity financed firms more than debt financed firms, probably because auditors interpret equity financing as firms’ inability to raise debt. Based on the findings, we recommend that auditors should monitor the capital structure of their clients to guide them in pricing their services. We also recommend that corporate finance managers should rebalance their firms’ capital structure cognisant of the fact that it signals to auditors.

  1. Creolization redux : the plural society thesis and offshore financial services in the British Caribbean

    Directory of Open Access Journals (Sweden)

    Bill Maurer

    1997-07-01

    Full Text Available Argues that the connection between political fragmentation and offshore financial services illustrate an increasingly common vision of the political and economic future among leaders of the British Caribbean who seek to carve out a place for their countries and territories in the new global economy. Their success is based on standing outside regional federations and providing services to parties wishing to conduct business between or around economic blocs.

  2. Qualitative Phenomenological Study of Data Management Information System Deployments: Financial Services Industry

    Science.gov (United States)

    Kerns, Dannie J.

    2014-01-01

    The qualitative phenomenological study explored the lived experiences of financial services industry change managers to understand the genesis of low data management information system project adoption rates. The goal of the study was to find methods to improve data management information system adoption rates. The participant pool consisted of 19…

  3. The Role of Universities in Preparing Graduates to Use Software in the Financial Services Workplace

    Science.gov (United States)

    Tickle, Leonie; Kyng, Tim; Wood, Leigh N.

    2014-01-01

    The role of universities in preparing students to use spreadsheet and other technical software in the financial services workplace has been investigated through surveys of university graduates, university academics, and employers. It is found that graduates are less skilled users of software than employers would like, due at least in part to a…

  4. Future for Financial Service Presentation%金融服务营销的前途

    Institute of Scientific and Technical Information of China (English)

    张强; 赵杰霞

    2004-01-01

    The co--operative sides of a financial service group can make use of each other's client group and distribution channel to enlarge selling network through cross--sale, and increase sales amount.The theory thereunder is that the clients of a product of a bank are also the ideal objects of itsother products.

  5. State Insurance Parity Legislation for Autism Services and Family Financial Burden

    Science.gov (United States)

    Parish, Susan; Thomas, Kathleen; Rose, Roderick; Kilany, Mona; McConville, Robert

    2012-01-01

    We examined the association between states' legislative mandates that private insurance cover autism services and the health care-related financial burden reported by families of children with autism. Child and family data were drawn from the National Survey of Children with Special Health Care Needs (N = 2,082 children with autism). State policy…

  6. Antecedents of big data quality : An empirical examination in financial service organizations

    NARCIS (Netherlands)

    Fardani Haryadi, Adiska; Janssen, Marijn; Hulstijn, Joris; van der Voort, Haiko; Wahyudi, Agung

    2016-01-01

    Big data has been acknowledged for its enormous potential. In contrast to the potential, in a recent survey more than half of financial service organizations reported that big data has not delivered the expected value. One of the main reasons for this is related to data quality. The objective of

  7. 75 FR 60138 - Chrysler Financial Services Americas, LLC, a Subsidiary of Finco Intermediate Holding Co., LLC...

    Science.gov (United States)

    2010-09-29

    ... From the Federal Register Online via the Government Publishing Office DEPARTMENT OF LABOR Employment and Training Administration Chrysler Financial Services Americas, LLC, a Subsidiary of Finco Intermediate Holding Co., LLC, Troy Customer Contact Center, Troy, Michigan; Notice of Affirmative Determination Regarding Application for...

  8. Qualitative Phenomenological Study of Data Management Information System Deployments: Financial Services Industry

    Science.gov (United States)

    Kerns, Dannie J.

    2014-01-01

    The qualitative phenomenological study explored the lived experiences of financial services industry change managers to understand the genesis of low data management information system project adoption rates. The goal of the study was to find methods to improve data management information system adoption rates. The participant pool consisted of 19…

  9. Global payment for health services as a solution in the financial crisis in Europe

    NARCIS (Netherlands)

    Schrijvers, Guus J.P.

    2012-01-01

    In these financial difficult years many European governments used global ceilings to control costs of health services. Two scenarios are thinkable. The first is that all individual providers get a budget for their own costs: general practitioners, specialists, hospitals, nursing homes and mental hea

  10. Financial services FY 1996 site support program plan, WBS 6.10.4. Revision 1

    Energy Technology Data Exchange (ETDEWEB)

    Schafer, D.D.

    1995-09-01

    This program plan outlines the financial services to be provided to the Hanford reservation by the Westinghouse Hanford Company. The topics of the plan include the Hanford strategic plan, program mission, program strategy, technical requirements baseline, schedule baseline, cost baseline, performance measures, technical objectives, program performance and program funding required.

  11. 36 CFR 1011.9 - When will the Presidio Trust transfer a debt to the Financial Management Service for collection?

    Science.gov (United States)

    2010-07-01

    ... 36 Parks, Forests, and Public Property 3 2010-07-01 2010-07-01 false When will the Presidio Trust transfer a debt to the Financial Management Service for collection? 1011.9 Section 1011.9 Parks, Forests... When will the Presidio Trust transfer a debt to the Financial Management Service for collection?...

  12. World Financial Leaders Met in Beijing

    Institute of Scientific and Technical Information of China (English)

    Audrey

    2009-01-01

    @@ Low levels of Capital flows seen for emerging markets in 2009,but upswing in 2010.Iif leaders hight progress on key best practoces reforms at financial services firms.They also slress risks of protectionism.fragmentation of the global finacial system.

  13. The changing trend in marketing of financial services: an empirical study on bank performance in Nigeria

    Directory of Open Access Journals (Sweden)

    Abiodun Eniola Alao

    2014-07-01

    Full Text Available The long years of marketing practices in the Nigerian banking industry has recorded low level standards relative to global standard practice. The effect on the overall industry performance measurable basically in terms of customer satisfaction, customer loyalty and brand equity has been on the negativity. In some cases, banks overall performance level was never assessed based on customer orientation, value and other customer related measures rather on some quick financial indicators. This poor orientation towards marketing has rather become a forgone especially in the banking area of financial services in Nigeria. This study was therefore conducted to examine the changing trend towards embracing marketing philosophy and the extent of the banks’ performance level in response to changing expectations of customers. Theoretical issues relating marketing, customer philosophy, financial marketing, customer loyalty, satisfaction, and brand equity were explored to establish the key performance variables and the existing relationships amongst them. Empirical study was equally carried out with the use of questionnaire, administered on randomly selected banks’ customers and management staff. Data collected were analyzed on the basis of critical measures which include customer awareness, market sensitivity to financial delivery, customer profile and sophistication through the use of Spearman Rank Correlation Coefficient. The result among other things shows that there is a significant relationship between the new trend towards marketing orientation, financial services in the banking industry and performance level. Based on this study, we recommend improved marketing performance and training to enhance service delivery, customer satisfaction, and customer loyalty across all banks in the geographical places of the Nigerian financial markets.

  14. Persistent Patterns in Trading Firms' Actions

    Science.gov (United States)

    Zamani, Neda; Doyne Farmer, J.

    2007-03-01

    To understand the dynamics of price formation in financial markets, we take the approach of investigating the actions of market participants. We examine the impact of the participating firms on the price and find that different firms have different patterns of impact. Each firm can be representative of many traders with different trading habits and strategies but nevertheless we observe statistically significant differences in the firms' market impacts. We also investigate a method of clustering the firms based on a simplified conception of strategies. We find consistent clusters and patterns in firm strategies and show that these relations are statistically significant.

  15. THE EVOLUTION OF NON-BANKING FINANCIAL SERVICES IN ROMANIA WITHIN THE CONTEXT OF ECONOMIC RELAUNCHING

    Directory of Open Access Journals (Sweden)

    CECILIA IRINA RABONTU

    2014-12-01

    Full Text Available In any stage of the evolution of an economy, but especially in a period of economic recovery funding needs may become a priority both for enterprises and for the population, which can be satisfied through institutions providing non-banking financial services. In case if companies cannot achieve an additional capital from shareholders, the need for funding can be achieved only through financial intermediation services and implicitly through the services that we treat in this paper. Lately non-banking financial services have witnessed an interesting evolution, which led us to realize an analysis of their dynamics in Romania in the period 2008-2013, for which we have used the studies of literature and statistical data provided by the National Institute of Statistics and the National Bank of Romania. In the year 2013 Romania recorded notable performances of the economy resulting in the decrease in inflation rate, improving the fiscal consolidation, adjustment of the current account deficit, which could influence the category of services we consider for discussion.

  16. Top Management Team's Performance in New Technology-Based Firms: - A Quantitative Study of the Impact of Network Capabilities, Top Management Team's Behavioural Integration and Board Service Role on Top Management Team's Effectiveness

    OpenAIRE

    Aadland, Torgeir; Fedorova, Ekaterina

    2015-01-01

    In the latter years, the focus on entrepreneurial firms has increased, and as a result, our understanding of these firms has improved significantly. However, in the evolution of modern business, there are still many things to reveal and investigate, for instance the management of these firms. This study focuses on the relationship between top management team s (TMT) effectiveness, their network capabilities and behavioural integration, as well as the board of directors service...

  17. GROWTH OF SME SECTOR AND WAYS OF IMPROVING ACCESS TO FINANCIAL SERVICES IN UZBEKISTAN

    Directory of Open Access Journals (Sweden)

    Turaboy Koraliev

    2014-04-01

    Full Text Available Private sector is recognized as the driving force and the engine for economic growth in many countries. It delivers important goods and services, provides jobs, generates revenue for public sector, and creates and maintains infrastructure. SMEs in particular create jobs and lead to more equitable distribution of incomes. In Uzbekistan the share of SMEs in GDP steadily increased from 30% in 2000 to 54% in 2012. The sector accounts for 75% of total employment in the country and it is forecasted that SMEs will add around half a million of new jobs in 2013.Despite these improvements, SMEs’ productivity and competitiveness potential have been affected by regulatory and institutional constraints. Access to adequate financial services is a key component for sustainable growth of the private sector, economic diversification and creation of more and better jobs. Adequate access to finance includes not only bank loans, but also a host of financing instruments that are geared to meet the diverse needs of enterprises and entrepreneurs with different characteristics and profiles. In addition, access to a broader range of efficient and reliable financial services, including electronic payment services, enables enterprises to manage the financial resources available to them more effectively.  

  18. Working toward financial sustainability of integrated behavioral health services in a public health care system.

    Science.gov (United States)

    Monson, Samantha Pelican; Sheldon, J Christopher; Ivey, Laurie C; Kinman, Carissa R; Beacham, Abbie O

    2012-06-01

    The need, benefit, and desirability of behavioral health integration in primary care is generally accepted and has acquired widespread positive regard. However, in many health care settings the economics, business aspects, and financial sustainability of practice in integrated care settings remains an unsolved puzzle. Organizational administrators may be reluctant to expand behavioral health services without evidence that such programs offer clear financial benefits and financial sustainability. The tendency among mental health professionals is to consider positive clinical outcomes (e.g., reduced depression) as being globally valued indicators of program success. Although such outcomes may be highly valued by primary care providers and patients, administrative decision makers may require demonstration of more tangible financial outcomes. These differing views require program developers and evaluators to consider multiple outcome domains including clinical/psychological symptom reduction, potential cost benefit, and cost offset. The authors describe a process by which a pilot demonstration project is being implemented to demonstrate programmatic outcomes with a focus on the following: 1) clinician efficiency, 2) improved health outcomes, and 3) direct revenue generation associated with the inclusion of integrated primary care in a public health care system. The authors subsequently offer specific future directions and commentary regarding financial evaluation in each of these domains.

  19. Impact of Customer Retention Practices on Firm Performance

    Directory of Open Access Journals (Sweden)

    K. Gengeswari

    2013-07-01

    Full Text Available Customer retention has become the buzzword among both practitioners and academics due to its significant impact towards the improvement in firm performance. Though firm performance is normally evaluated using financial measures, this paper has utilized non-financial measure i.e. customer satisfaction. This is due to the appropriateness of its application to measure performance of service-oriented (retail firms. This study was conducted using mall-intercept surveys at AEON Perak, Malaysia whereby, it collected 200 completed questionnaires. Hierarchical regression analysis was employed to examine the impact of customer retention towards firm performance alongside with the demographic profiles as the moderator. Four dimensions of customer retention namely word-of-mouth, price insensitivity, repeat purchase and non-complaining behavior as well as demographic profiles are found to significantly influence firm performance (customer satisfaction. Hence, it is recommended that practitioners should be more considerate towards enriching the said dimensions of customer retention in order to leverage its promising potential.

  20. Financial and Legal Characteristics of Cross-Jurisdictional Shared Service Agreements Between Local Public Health Agencies.

    Science.gov (United States)

    Watts, Theresa; Zahner, Susan; Mrochek, Tracy

    2017-03-01

    Cross-jurisdictional sharing is a resource management strategy increasingly being used by local health departments to provide essential and mandated public health services. Cross-jurisdictional shared service agreements (CJSSAs) are the legal documents that govern cross-jurisdictional sharing arrangements. Information on the financial and legal characteristics of CJSSAs is limited. This study described the financial and legal elements of a set of formal, written CJSSAs in one state to offer guidance to practitioners on how to structure the financial and legal elements in CJSSAs. CJSSAs, which included a written statement about the financial commitment governed by the agreement (n = 63), were analyzed. Data collection occurred through 2 structured data extraction tools and structured telephone interviews conducted with local and tribal health department directors. Descriptive statistics of all variables and a single predictor linear regression were performed. The higher population partner to the CJSSA more often provided the public health service and received payment (n = 41; 65%). Financial statements were found to vary by CJSSA characteristic. CJSSAs were more likely to be legally complete when a legal counsel was involved in creating them (odds ratio = 2.74; 95% confidence interval, 2.19-3.29; P ≤ .001). Yet, only 2 (3%) of the CJSSAs described all the legal elements and were considered legally complete. Clearly identifying and including necessary fiscal and legal elements when creating and managing CJSSAs may strengthen agreements and reduce local health department legal and fiscal vulnerabilities. Local health department capacity for planning, coordination, budgeting, management, and evaluation is essential when creating CJSSA. Careful consideration of cost-sharing and consulting with legal counsel could strengthen the CJSSA.

  1. Firm Traits and Web Based Disclosures in Top Nigerian Firms

    Directory of Open Access Journals (Sweden)

    Bello Ayuba

    2016-02-01

    Full Text Available The use of the internet as a medium of dissemination of information to stakeholders is increasingly gaining grounds. This study extends existing literature on web disclosures by investigating the characteristics that predict the extent of web-based disclosures. In this study, corporate websites of top Nigerian firms are used as sources of data, while a regression analysis is employed to examine the extent of prediction. Results indicate that the firm size and industry type are significant determinants of web disclosures. However, other firm traits such as ownership dispersion and financial performance do not significantly explain the extent of internet disclosures. The study recommends that a regulatory template for corporate web disclosures be put in place by government regardless of the size or industry classification of the firm. This is with a view to considerably reduce agency conflicts arising from information asymmetry in publicly listed firms in Nigeria.

  2. Default Risk and Firm Value of Shipping & Logistics Firms in Korea

    Directory of Open Access Journals (Sweden)

    Hyun Jung Nam

    2017-07-01

    Full Text Available As shipping and logistics industry is one of the core industries in Korea, the volume was ranked in the fifth highest in the world. However, shipping and logistics industry of Korea has suffered from default risk since Global Financial Crisis in 2008. This study examines the relationship between the default risk, as measured by the Altman K-Score, and firm value, as measured by the Return on Assets (ROA, of shipping and logistics firms in Korea and compares the impact of default risk on firm value between good financial health firms and poor financial health firms. As the trends of KScores over a ten-year periods, shipping and logistics firms in Korea register weak-to-moderate financial healthy rage. We find that Altman K-Score is significantly linked with firm value and also higher performing firms as measured by the ROA exhibit higher financial health as measured by KScore. Although nine years have been passed since Global Financial Crisis 2008, Korean shipping and logistics industry is still under the financial depression. This study proposes that systematic financial alert system of Korean shipping and logistics industry should be required to decrease default risk reflecting significance of Korean economy.

  3. THE AUTHORITY TO FILE BANKRUPTCY PETITIONS AFTER THE ESTABLISHMENT OF INDONESIA’S FINANCIAL SERVICES AUTHORITY

    Directory of Open Access Journals (Sweden)

    Erma Defiana Putriyanti

    2015-10-01

    Full Text Available The transfer in the functions, duties, and authority for regulation and supervision as stipulated in Article 55 of the Act concerning the Financial Services Authority (OJK does not include the transfer of authority in filing a petition for bankruptcy. The authority to file a bankrupty petition against a debtor in the financial services sector still refers to Article 2 paragraph (3 to (5 Act No. 37 of 2004 concerning Bankruptcy and Suspension of Payment. Peralihan fungsi, tugas dan kewenangan pengaturan dan pengawasan sebagaimana dimaksud dalam Pasal 55 Undang-undang tentang Otoritas Jasa Keuangan (OJK tidak termasuk peralihan kewenangan pengajuan pailit. Kewenangan untuk mengajukan permohonan pailit terhadap debitor yang bergerak dibidang jasa keuangan tetap mengacu pada Pasal 2 ayat (3 sampai (5 Undang-Undang Nomor 37 Tahun 2004 tentang Kepailitan dan PKPU.

  4. THE AUTHORITY TO FILE BANKRUPTCY PETITIONS AFTER THE ESTABLISHMENT OF INDONESIA’S FINANCIAL SERVICES AUTHORITY

    Directory of Open Access Journals (Sweden)

    Erma Defiana Putriyanti

    2015-10-01

    Full Text Available The transfer in the functions, duties, and authority for regulation and supervision as stipulated in Article 55 of the Act concerning the Financial Services Authority (OJK does not include the transfer of authority in filing a petition for bankruptcy. The authority to file a bankrupty petition against a debtor in the financial services sector still refers to Article 2 paragraph (3 to (5 Act No. 37 of 2004 concerning Bankruptcy and Suspension of Payment.   Peralihan fungsi, tugas dan kewenangan pengaturan dan pengawasan sebagaimana dimaksud dalam Pasal 55 Undang-undang tentang Otoritas Jasa Keuangan (OJK tidak termasuk peralihan kewenangan pengajuan pailit. Kewenangan untuk mengajukan permohonan pailit terhadap debitor yang bergerak dibidang jasa keuangan tetap mengacu pada Pasal 2 ayat (3 sampai (5 Undang-Undang Nomor 37 Tahun 2004 tentang Kepailitan dan PKPU.

  5. Approaches to risk and consumer policy in financial service regulation in the UK.

    OpenAIRE

    Lunt, Peter; Livingstone, Sonia; Kelay, Tanika; Miller, Laura

    2006-01-01

    The financial service and communication sectors in the UK have been subject to radical re-organisation, involving the formation of sector-wide regulatory bodies (FSA and Ofcom) with wide-ranging powers and statutory obligations. Although both have responsibilities for assessment and management of risk, their remits go beyond traditional approaches to regulation. Hence, although primarily oriented to economic policy, both regulators address questions of corporate responsibility, balance of sta...

  6. Approaches to Risk and Consumer Policy in Financial Service Regulation in the UK

    OpenAIRE

    Peter Lunt; Sonia Livingstone; Tanika Kelay; Laura Miller

    2006-01-01

    The financial service and communication sectors in the UK have been subject to radical re-organisation, involving the formation of sector-wide regulatory bodies (FSA and Ofcom) with wide-ranging powers and statutory obligations. Although both have responsibilities for assessment and management of risk, their remits go beyond traditional approaches to regulation. Hence, although primarily oriented to economic policy, both regulators address questions of corporate responsibility, balance of sta...

  7. Discussion on Development of Community Financial Services in Postal Finance%邮政金融发展社区金融服务模式的探讨

    Institute of Scientific and Technical Information of China (English)

    李秋

    2014-01-01

    Community financial services have diversity species, flexible form and are close to clients. Recently, China's private banks, city commercial banks and four state-owned firms had began business in this field, which clearly have effect on Postal Savings Bank, which positions itself as a retail bank. In this paper, it will discuss the mode of community financial service and problems should pay attention to for Postal Saving Bank, on the base of the summary of the past experience.%社区金融服务多样,形式灵活,贴近客户。近来,我国的民营银行、城商行、四大国有行都在该领域开展业务,这一变化显然对定位于零售业务的邮储银行产生了影响,文中在对我国目前社区服务归纳总结的基础上,探讨了邮储银行展开社区金融服务应注意的问题和模式选择。

  8. An Analysis and Comparison of Medication Therapy Management Cost-Avoidance vs. Fee-for-Service Financial Models.

    Science.gov (United States)

    Schuh, Michael J

    2015-05-01

    To describe, compare, and contrast cost-avoidance and fee-for-service medication therapy management (MTM) financial models of practice to allow clinicians to better choose the type of MTM practice that best fits their particular practice environment. Literature regarding pharmacist practices providing MTM services and capstone projects of proposed and currently operating MTM pharmacist practices presented in the University of Florida Master of Science MTM program. Understanding the two major payment methods of sustaining a financially viable MTM pharmacist practice is critical to practice success. Survey was broad with regard to clinical models to compare differences because funding to support these services can be difficult to obtain. Despite differences in approach, various methods exist to financially sustain a pharmacist with an MTM practice. Each method or model has advantages and disadvantages in differing practice environments. With enough cost avoidance or revenue generation, financially dissimilar MTM financial models can be sustainable.

  9. Global payment for health services as a solution in the financial crisis in Europe.

    Science.gov (United States)

    Schrijvers, Guus

    2012-10-01

    In these financial difficult years many European governments used global ceilings to control costs of health services. Two scenarios are thinkable. The first is that all individual providers get a budget for their own costs: general practitioners, specialists, hospitals, nursing homes and mental health institutes. The second scenario is to work with global budgets for health care providers servicing a total population. Scientists and policy makers in Europe, North America and Asia need time to design new payment systems based on the idea of global budgeting, bundled payment and shared savings.

  10. Global payment for health services as a solution in the financial crisis in Europe

    Directory of Open Access Journals (Sweden)

    Guus Schrijvers

    2012-10-01

    Full Text Available In these financial difficult years many European governments used global ceilings to control costs of health services. Two scenarios are thinkable. The first is that all individual providers get a budget for their own costs: general practitioners, specialists, hospitals, nursing homes and mental health institutes. The second scenario is to work with global budgets for health care providers servicing a total population. Scientists and policy makers in Europe, North America and Asia need time to design new payment systems based on the idea of global budgeting, bundled payment and shared savings.

  11. Optimal accounting policies under financial constraints: aggressive versus conservative

    OpenAIRE

    Masatomo Akita; Yusuke Osaki

    2011-01-01

    We examine how severity of financial constraints influences firms' choices of accounting policies. This paper shows that firms with mild financial constraints choose an aggressive accounting policy and those with severe financial constraints choose a conservative accounting policy.

  12. Banks and Financial Services, City of Hutchinson Financial Services polygon layer (part of our building fotprints), Published in 2006, 1:600 (1in=50ft) scale, City of Hutchinson.

    Data.gov (United States)

    NSGIC GIS Inventory (aka Ramona) — This Banks and Financial Services dataset, published at 1:600 (1in=50ft) scale, was produced all or in part from Orthoimagery information as of 2006. It is described...

  13. Competing with the use of business model innovation : an exploratory case study of the journey of born global firms

    OpenAIRE

    Marlene Johansson; Jan Tony Abrahamsson

    2014-01-01

    Purpose: The purpose of this article is to investigate how business models are used by born global firms to act upon new business opportunities and how they manage business model innovation over time to prosper and grow. Design/Methodology: The study is based on three exploratory case studies of born global firms in mobile communication, financial services and digital music distribution. Findings: Three interrelated capabilities to manage business model innovation are articulated in...

  14. Competing with the use of business model innovation : an exploratory case study of the journey of born global firms

    OpenAIRE

    Marlene Johansson; Jan Tony Abrahamsson

    2014-01-01

    Purpose: The purpose of this article is to investigate how business models are used by born global firms to act upon new business opportunities and how they manage business model innovation over time to prosper and grow. Design/Methodology: The study is based on three exploratory case studies of born global firms in mobile communication, financial services and digital music distribution. Findings: Three interrelated capabilities to manage business model innovation are articulated in...

  15. An empirical investigation on factors influencing customer loyalty and their relationships with quality of services: A case study of insurance firm

    Directory of Open Access Journals (Sweden)

    Rostam Pourrahidi

    2014-01-01

    Full Text Available In this paper, we present an empirical investigation to study the effect of various factors influencing customer loyalty and quality of services on customer satisfaction and customer loyalty. The proposed study is implemented in one of Iranian insurance firms by choosing a sample of 171 randomly selected customers of this insurance firm. We use SERVQUAL standard questionnaire to measure customer satisfaction. The study examines three hypotheses associated with the proposed study using one-way t-student as well as path analysis, and the results have confirmed all three hypotheses. The study also uses Freedman test to rank the most important factors and detects that value was the most important issue followed by trust, customer satisfaction, empathy, value and resistance to change.

  16. Credit Constraints in Uganda's Firms: Micro-Economic Evidence ...

    African Journals Online (AJOL)

    Information on firms that had demanded for bank credit and were either granted or denied ... firms find it most difficult to get loans from financial institutions perhaps because agency, information, enforcement and transactions costs are higher.

  17. Balanced scorecard of effectiveness analysis of the “Balanced scorecard method of analysis” and risk analysis of financial instability (of a bankrupt) of an enterprise (firm)

    OpenAIRE

    2015-01-01

    The significance and essence of balanced scorecard of effectiveness analysis of the “Balanced scorecard method of analysis” and its application for analyzing the risk of financial instability of an enterprise have been considered.

  18. 48 CFR 252.236-7011 - Overseas architect-engineer services-Restriction to United States firms.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 3 2010-10-01 2010-10-01 false Overseas architect... SOLICITATION PROVISIONS AND CONTRACT CLAUSES Text of Provisions And Clauses 252.236-7011 Overseas architect... provision: Overseas Architect-Engineer Services—Restriction to United States Firms (JAN 1997) (a)...

  19. Efficient energy management: theoretical basis of the financial activity of energy service companies

    Directory of Open Access Journals (Sweden)

    I.M. Sotnyk

    2015-09-01

    Full Text Available The aim of this article. The aim of this article is to research the implementation of different types of energy service contracts and financial mechanisms of work of energy service companies (ESCOs in the domestic economic conditions in order to improve the approach to energy management and activate energy effective and resource saving processes in Ukraine. The results of the analysis. High energy consumption in the economy of Ukraine is the result of inefficient use of energy resources which has negative effect on the energy safety of the country, deteriorates the environment and undermines people’s health. The potential to decrease energy consumption in Ukraine is so high that decisive actions in this sphere, as experts claim, can lead to 20-30% decrease of annually consumed energy resources in the country. Consequently, there is a great necessity to activate energy and resource saving by developing energy service activity and creating the chain of specialized ESCOs in Ukraine. ESCO is one of the most effective and widespread organization forms in the world that increases energy efficiency of national economy; its efficiency was proved both in developed countries and those which are developing. The implementation of different types of energy performance contracts of specialized ESCOs was studied in the article. Considering the imperfection of Ukrainian legislation which denies the technology of energy service contracts, the authors offered recommendations concerning changes to some legislative acts. At the same time financial support of ESCOs’ activity is really important for development of energy service market. In this research possible financial mechanisms of ESCOs’ work were analyzed. There is a need to diversify sources of funding of energy saving measures that are adopted by specialized ESCOs by means of attracting funding from state and local budgets, creating conditions for attracting resources of international financial

  20. Shared vision promotes family firm performance.

    Science.gov (United States)

    Neff, John E

    2015-01-01

    A clear picture of the influential drivers of private family firm performance has proven to be an elusive target. The unique characteristics of private family owned firms necessitate a broader, non-financial approach to reveal firm performance drivers. This research study sought to specify and evaluate the themes that distinguish successful family firms from less successful family firms. In addition, this study explored the possibility that these themes collectively form an effective organizational culture that improves longer-term firm performance. At an organizational level of analysis, research findings identified four significant variables: Shared Vision (PNS), Role Clarity (RCL), Confidence in Management (CON), and Professional Networking (OLN) that positively impacted family firm financial performance. Shared Vision exhibited the strongest positive influence among the significant factors. In addition, Family Functionality (APGAR), the functional integrity of the family itself, exhibited a significant supporting role. Taken together, the variables collectively represent an effective family business culture (EFBC) that positively impacted the long-term financial sustainability of family owned firms. The index of effective family business culture also exhibited potential as a predictive non-financial model of family firm performance.

  1. Shared Vision promotes family firm performance

    Directory of Open Access Journals (Sweden)

    John Edward Neff

    2015-05-01

    Full Text Available A clear picture of the influential drivers of private family firm performance has proven to be an elusive target. The unique characteristics of private family owned firms necessitate a broader, non-financial approach to reveal firm performance drivers. This research study sought to specify and evaluate the themes that distinguish successful family firms from less successful family firms. In addition, this study explored the possibility that these themes collectively form an effective organizational culture that improves longer-term firm performance. At an organizational level of analysis, research findings identified four significant variables: Shared Vision (PNS, Role Clarity (RCL, Confidence in Management (CON, and Professional Networking (OLN that positively impacted family firm financial performance. Shared Vision exhibited the strongest positive influence among the significant factors. In addition, Family Functionality (APGAR, the functional integrity of the family itself exhibited a significant supporting role. Taken together, the variables collectively represent an effective family business culture (EFBC that positively impacted the long-term financial sustainability of family owned firms. The index of effective family business culture also exhibited potential as a predictive non-financial model of family firm performance.

  2. Nonprofit financial assessment and research service learning: Evaluating the performance of an animal welfare nonprofit organization

    Directory of Open Access Journals (Sweden)

    Karen A. Maguire

    2016-12-01

    Full Text Available The objective of this project is to evaluate the current financial and compliance status of an animal welfare nonprofit organization (NPO by: analysis of trends over time using information reported on tax filings (Form 990; vertical and horizontal analyses of financial statements; analysis of trends over time using information from financial statements; reconciliation of financial statements to Form 990; ratio analysis of Form 990 Information; and comparison of reported information to local analogs and national standards. This project is conducted in collaboration with The Chapin Foundation. This research serves as a research service learning project with the participation of Master of Accountancy graduate students at Coastal Carolina University. Once the results are presented, recommendations are given for improving operational efficiency and achieving best practices. These recommendations are presented in the form of both short-term items to be addressed immediately—defined in this study as within 60 days—and long-term items to be undertaken in the future. Resources for applicable standards and requirements are also provided.

  3. How do firms implement impairment tests of goodwill?

    DEFF Research Database (Denmark)

    Plenborg, Thomas; Vriborg Petersen, Christian

    Adopting a survey approach, our study examines how firms implement impairment test of goodwill. We focus on how firms define and measure the recoverable amount of CGU. The survey includes 58 completed questionnaires representing 73% of the firms on the Copenhagen Stock Exchange that recognise goo...... be of interest to a number of parties including firms, financial advisors, auditors, standard setters and users of financial statements....

  4. Banks and Financial Services, Published in 2011, 1:600 (1in=50ft) scale, City of Robertsdale.

    Data.gov (United States)

    NSGIC GIS Inventory (aka Ramona) — This Banks and Financial Services dataset, published at 1:600 (1in=50ft) scale, was produced all or in part from Field Survey/GPS information as of 2011. The extent...

  5. Banks and Financial Services, Contained within 911 Address point feature class in ESRI format, Published in 2008, Burnett County, WI.

    Data.gov (United States)

    NSGIC GIS Inventory (aka Ramona) — This Banks and Financial Services dataset, was produced all or in part from Field Survey/GPS information as of 2008. It is described as 'Contained within 911 Address...

  6. Banks and Financial Services, Published in 2006, 1:4800 (1in=400ft) scale, White County Government.

    Data.gov (United States)

    NSGIC GIS Inventory (aka Ramona) — This Banks and Financial Services dataset, published at 1:4800 (1in=400ft) scale, was produced all or in part from Field Observation information as of 2006. Data by...

  7. Banks and Financial Services, banks, Published in 2008, 1:24000 (1in=2000ft) scale, Tooele County.

    Data.gov (United States)

    NSGIC GIS Inventory (aka Ramona) — This Banks and Financial Services dataset, published at 1:24000 (1in=2000ft) scale, was produced all or in part from Other information as of 2008. It is described as...

  8. 29 CFR 2550.408b-6 - Statutory exemption for ancillary services by a bank or similar financial institution.

    Science.gov (United States)

    2010-07-01

    ... service is consistent with sound banking and financial practice, as determined by Federal or State.... See, for example, section 401 of the Internal Revenue Code of 1954. The provisions of section 408(b)(6...

  9. Assessing Consumer Trust in the UK Financial Service Industry: A research based analysis of existing measures and implications for improvement.

    OpenAIRE

    Cole, Ricki Lee

    2012-01-01

    Executive Summary Over the past 5 years numerous worldwide financial service scandals have plagued the financial services industry (FSI) leading many to believe that the international banking system could be on the brink of collapse. As such, industry experts, consultants and academics have been increasingly interested on gauging the affects it has had on consumer trust and the FSI. While trust is an important aspect in any relationship, extensive research has been conducted regarding thi...

  10. The increasing efficiency of financial resources management at implementation of goods’ purchase, works, services for the state and municipal needs

    Directory of Open Access Journals (Sweden)

    Proskurnja Dar'ja Vladimirovna

    2016-02-01

    Full Text Available The article is devoted to the review of the existing problems in the field of financial resources management at implementation of goods’ purchase, works, services for the state and municipal needs. Determination of the limit prices of purchases is revealed as the most important problem of the increasing efficiency of financial resources management at implementation of goods’ purchase, works, services for the state and municipal needs. The range of problems of determination of the limit prices of purchases is systematized.

  11. The value relevance of accounting disclosures among listed Nigerian firms: IFRS adoption

    National Research Council Canada - National Science Library

    Mohammed Yusuf Alkali; Nor Asma Lode

    2016-01-01

    .... A sample of 126 firms listed in Nigeria stock market is used for the study. Data is collected from Thomson Reuters and Bank Scope Data Streams for non-financial and financial firms, respectively...

  12. Evaluación financiera del valor generado por un sistema de información en una empresa de transportes Financial evaluation of the value generated by an information system in a transport firm

    Directory of Open Access Journals (Sweden)

    Pedro Manuel Sosa San Martín

    2011-12-01

    entity in which the evaluation was realized. The implantation of the information system of packages shipping obtained S/. 138,070 new soles (approximately US$ 48,446 as net present value after the first year, and S/. 1,178,996 new soles (approximately US$ 413,683 as net present value after the third year, due the increment of loyalty of clients through the reduction of time to 70% in the emission of bills and for avoiding losses due a proportion of clients didn't hire the service because the emission of bills was manual. Also, the study demonstrates that the variation of procedure 059 of the MAIGTI methodology is valid for the evaluation of financial return of an information system in a transport firm.

  13. Financial services in England in the late XVII century and first equity market boom (1691–1693

    Directory of Open Access Journals (Sweden)

    S.Z. Moshenskyi

    2016-09-01

    Full Text Available The article shows the formation of the British financial services industry in the 1690's and the reasons of the first joint-stock companies’ boom of 1691–1693's. The author describes the course of events of this boom, and data on the volume of transactions in shares. The reasons of the joint-stock boom end are associated with very low capitalization of most of the new companies. The consequence of rapid economic growth in England in the late XVII century was the appearance and rapid development of financial services. Financial intermediaries appeared first and their services, in particular the services of insurance companies, were in demand. The rapid increase in the number of insurance companies has become prerequisite for becoming financial capitalism that led to the emergence of other intermediaries which provided financial services. Among them there were the so-called "notaries" that offered a full range of services related to land transactions and "bankers, jewelers," that woke the first private bankers. Thus, in the early 1690's London had a favorable environment for the rapid growth of the financial market, which was the main precondition for expanding market shares and led to the joint-stock boom.

  14. Does Cash Contribute to Value? A Comparison of Constrained and Unconstrained Firms in China and Germany

    Directory of Open Access Journals (Sweden)

    Wei Zhang

    2015-11-01

    Full Text Available A fundamental characteristic of emerging markets is the underdevelopment of legal institutions and financial markets. Therefore, the marginal value of a firm’s cash holdings in emerging countries can be lower than 1, due to high agency costs resulting from poor external corporate governance. However, the marginal value of cash may also be high in emerging markets because the information asymmetry between current and new providers of funds is high, which means that it is difficult to access the (low quality capital markets. We study for the industrialized countries of China and Germany whether corporate cash holdings contribute to shareholder value in both constrained and unconstrained firms. In contradiction to previous literature on emerging markets, we find that the marginal value of cash is not smaller than 1 in China, so that agency costs do not dominate. We, however, find marginal values of cash lower than 1 for unconstrained firms in both countries, implying that in these firms agency costs of cash holdings exist. For constrained firms we find marginal values significantly larger than 1 in both countries. This indicates difficulties in accessing the financial markets for these firms. These difficulties prove to be larger in China than in Germany for small and service firms, but not for high growth firms.

  15. Financial Incentives, Workplace Wellness Program Participation, and Utilization of Health Care Services and Spending.

    Science.gov (United States)

    Fronstin, Paul; Roebuck, M Christopher

    2015-08-01

    This paper analyzes data from a large employer that enhanced financial incentives to encourage participation in its workplace wellness programs. It examines, first, the effect of financial incentives on wellness program participation, and second, it estimates the impact of wellness program participation on utilization of health care services and spending. The Patient Protection and Affordable Care Act of 2010 (PPACA) allows employers to provide financial incentives of as much as 30 percent of the total cost of coverage when tied to participation in a wellness program. Participation in health risk assessments (HRAs) increased by 50 percentage points among members of unions that bargained in the incentive, and increased 22 percentage points among non-union employees. Participation in the biometric screening program increased 55 percentage points when financial incentives were provided. Biometric screenings led to an average increase of 0.31 annual prescription drug fills, with related spending higher by $56 per member per year. Otherwise, no significant effects of participation in HRAs or biometric screenings on utilization of health care services and spending were found. The largest increase in medication utilization as a result of biometric screening was for statins, which are widely used to treat high cholesterol. This therapeutic class accounted for one-sixth of the overall increase in prescription drug utilization. Second were antidepressants, followed by ACE inhibitors (for hypertension), and thyroid hormones (for hypothyroidism). Biometric screening also led to significantly higher utilization of biologic response modifiers and immunosuppressants. These specialty medications are used to treat autoimmune diseases, such as rheumatoid arthritis and multiple sclerosis, and are relatively expensive compared with non-specialty medications. The added spending associated with the combined increase in fills of 0.02 was $27 per member per year--about one-half of the

  16. Addressing the financial consequences of cancer: qualitative evaluation of a welfare rights advice service.

    Directory of Open Access Journals (Sweden)

    Suzanne Moffatt

    Full Text Available BACKGROUND: The onset, treatment and trajectory of cancer is associated with financial stress among patients across a range of health and welfare systems and has been identified as a significant unmet need. Welfare rights advice can be delivered effectively in healthcare settings, has the potential to alleviate financial stress, but has not yet been evaluated. We present an evaluation of a welfare rights advice intervention designed to address the financial consequences of cancer. METHODS: Descriptive study of welfare outcomes among 533 male and 641 female cancer patients and carers aged 4-95 (mean 62 years, who accessed the welfare rights advice service in North East England between April 2009 and March 2010; and qualitative interview study of a maximum variation sample of 35 patients and 9 carers. RESULTS: Over two thirds of cancer patients and carers came from areas of high socio-economic deprivation. Welfare benefit claims were successful for 96% of claims made and resulted in a median increase in weekly income of £70.30 ($109.74, €84.44. Thirty-four different types of benefits or grants were awarded. Additional resources were perceived to lessen the impact of lost earnings, help offset costs associated with cancer, reduce stress and anxiety and increase ability to maintain independence and capacity to engage in daily activities, all of which were perceived to impact positively on well-being and quality of life. Key barriers to accessing benefit entitlements were knowledge, system complexity, eligibility concerns and assumptions that health professionals would alert patients to entitlements. CONCLUSIONS: The intervention proved feasible, effectively increased income for cancer patients and was highly valued. Addressing the financial sequelae of cancer can have positive social and psychological consequences that could significantly enhance effective clinical management and suitable services should be routinely available. Further research

  17. Readiness in Meeting Globalization Challenges: A Case of Accounting Firms in Malaysia

    Directory of Open Access Journals (Sweden)

    Arfah Salleh

    2007-01-01

    Full Text Available The empirical study explored the relationships between firm’s characteristics and perceived readiness level of Malaysian Institute of Accountants firm members in meeting globalization challenges. In general all respondents indicated low readiness level in penetrating the global market. Seeing that the services sector is growing tremendously during the recent decades, there is a great opportunity for businesses to increase the export services in the foreseeable future to match that of the developed countries. Thus the findings and recommendations of this study provided comprehensive empirical information for entrepreneurs especially those involve in financial sector to actively embark into the global market.

  18. AN EXAMINATION OF THE POTENTIAL IMPACT OF RISK ON VIABILITY ASSESSMENTS FOR FINANCIALLY DISTRESSED FIRMS: THE CASE OF PROFESSIONAL USER GROUPS OF COMPANY ACCOUNTS

    Directory of Open Access Journals (Sweden)

    Sylvia Constantinides

    2007-01-01

    Full Text Available Risky conditions in conjunction with individuals' attitude to risk would normally lead to risk-averse behavior (Fishbein & Ajzen, 1975; Ajzen & Fishbein, 1980. In this research, risk-averse behavior (the dependent variable relates to the "going-concern" opinion offinancially distressed firms. A logistic regression model used as predictors of risk measurements (risky conditions and risk attitude correctly predicts 97.6% of the nongoing concern opinions. In conclusion, the empirical evidence demonstrates a subtle impact of risk on individuals' behavior despite the fact that distinct statistical tests do not fully support this.

  19. [Evaluation of financial status of public hospitals considering the updated costs of their services].

    Science.gov (United States)

    Cid P, Camilo; Bastías S, Gabriel

    2014-02-01

    In 2011 the Chilean National Health Fund (FONASA) commissioned a study to assess the costs of the 120 most relevant hospital care services with an established fee, in a large sample of public hospitals. We herein report the cost evaluation results of such study, considering the financial condition of those hospitals in the year of the study. Based on the premise that the expenses derived from the provision of institutional and appraised hospital services should be identical to the billing of hospitals to FONASA, the prices are undervalued, since they cover only 56% of billing, generating a gap between expenses and invoicing. This gap shows an important limitation of tariffs, since their prices do not cover the real costs. However not all hospitals behave in the same way. While the provision of services of some hospitals is even higher than their billing, most hospitals do not completely justify their invoicing. These assumptions would imply that, generally speaking, hospital debts are justified by the costs incurred. However, hospitals have heterogeneous financial situations that need to be analyzed carefully. In particular, nothing can be said about their relative efficiency if cost estimations are not adjusted by the complexity of patients attended and comparison groups are not defined.

  20. Enterprise financial Shared services mode%企业财务共享服务模式探讨

    Institute of Scientific and Technical Information of China (English)

    苏晓玲

    2015-01-01

    财务共享服务模式是财务管理领域的创新模式,这一模式在实施过程中包含很多内容.本文在分析财务共享服务模式优势和劣势的基础上,探讨了企业财务共享服务模式的构建.%Financial Shared services model is a innovation in the field of financial management model, this model contains a lot of content in the process of implementation. Financial Shared services model this paper analyzes the advantages and disadvantages, and probes into the construction of enterprise financial Shared services model.

  1. A study on the effect of service quality on customer loyalty and corporate performance in financial industry

    Directory of Open Access Journals (Sweden)

    Chia-Ming Liu

    2017-09-01

    Full Text Available Since the government opened to the establishment of new private banks in 1990s, the competition in banking industry has become fierce in Taiwan. Especially, the establishment of financial holding companies after 2000s has resulted in the merge among financial institutions. The competition in banking industry becomes even fiercer. The price war of interest rate among banks gradually shortens the deposit and lending rate difference in banking industry that banks could no longer survive with the traditional business of deposit and lending rate differences. Banks have to attract customers with different service quality, satisfy customer needs, and create new profits for banking industry. Generally speaking, service quality is related to customer satisfaction after receiving service, and satisfaction becomes the internal assessment indicator of financial industry for customers. A lot of excellent foreign businesses or national financial institutions present brilliant competitiveness in the field of finance by the specialty and service quality. Taking Land Bank of Taiwan as the research subject, this study aims to discuss the effect of service quality on customer loyalty and corporate performance in financial industry. It is discovered in this study that an enterprise enhancing the service quality through the mediation effect of customer loyalty could effectively promote the corporate performance. For this reason, the relationship between customer loyalty and service quality, corporate performance are established in this study, and the results of the analysis could be the reference for banking industry in Taiwan.

  2. Mergers and acquisitions in Western European health care: exploring the role of financial services organizations.

    Science.gov (United States)

    Angeli, Federica; Maarse, Hans

    2012-05-01

    Recent policy developments in Western European health care - for example in the Netherlands - aim to enhance efficiency and curb public expenditures by strengthening the role of private sector. Mergers and acquisitions (M&As) play an important role in this respect. This article presents an analysis of 1606 acquisition deals targeting health care provider organizations in Western Europe between 1990 and 2009. We particularly investigate the role of financial services organisations as acquirers. Our analysis highlights (a) a rise of M&As in Western Europe since 2000, (b) an increase of M&As with financial service organisations acting as acquirer in absolute terms, and (c) a dominant role of the latter type of M&As in cross-border deals. To explain these developments, we make a distinction between an integration and a diversification rationale for M&As and we argue that the deals with financial services organisations in the role of acquirer are driven by a diversification rationale. We then provide arguments why health care, from the acquirer's perspective, can be considered as an interesting target in a diversification strategy and we advance reasons why health care providers may welcome this development. Although caution in drawing conclusions is needed, our findings suggest a penetration of private capital into health care provision that may be interpreted as a specific form of privatisation. Furthermore, they point to a rising internationalisation of health care. Both findings may entail far-reaching implications for health care, as they may induce both cultural privatisation and cultural internationalisation.

  3. Financial incentives for return of service in underserved areas: a systematic review

    Directory of Open Access Journals (Sweden)

    Bärnighausen Till

    2009-05-01

    Full Text Available Abstract Background In many geographic regions, both in developing and in developed countries, the number of health workers is insufficient to achieve population health goals. Financial incentives for return of service are intended to alleviate health worker shortages: A (future health worker enters into a contract to work for a number of years in an underserved area in exchange for a financial pay-off. Methods We carried out systematic literature searches of PubMed, the Excerpta Medica database, the Cumulative Index to Nursing and Allied Health Literature, and the National Health Services Economic Evaluation Database for studies evaluating outcomes of financial-incentive programs published up to February 2009. To identify articles for review, we combined three search themes (health workers or students, underserved areas, and financial incentives. In the initial search, we identified 10,495 unique articles, 10,302 of which were excluded based on their titles or abstracts. We conducted full-text reviews of the remaining 193 articles and of 26 additional articles identified in reference lists or by colleagues. Forty-three articles were included in the final review. We extracted from these articles information on the financial-incentive programs (name, location, period of operation, objectives, target groups, definition of underserved area, financial incentives and obligation and information on the individual studies (authors, publication dates, types of study outcomes, study design, sample criteria and sample size, data sources, outcome measures and study findings, conclusions, and methodological limitations. We reviewed program results (descriptions of recruitment, retention, and participant satisfaction, program effects (effectiveness in influencing health workers to provide care, to remain, and to be satisfied with work and personal life in underserved areas, and program impacts (effectiveness in influencing health systems and health outcomes

  4. Trade credit: Elusive insurance of firm growth

    NARCIS (Netherlands)

    Bams, Dennis; Bos, Jaap; Pisa, Magdalena

    2016-01-01

    Firms depend heavily on trade credit. This paper introduces a trade credit network into a structural model of the economy. In an empirical analysis of the model, we find that trade credit is an elusive insurance: as long as a firm is financially unconstrained and times are good, more trade credit en

  5. Agency Costs, Firm Value, and Corporate Investment

    NARCIS (Netherlands)

    M. Teixeira de Vasconcelos (Manuel)

    2012-01-01

    textabstractOften firms lack the necessary internal resources to pursue all profitable investment opportunities at their disposal. One of the most important roles of financial markets is to allocate resources from different economic agents to the firms that will better employ them, thereby enabling

  6. Trade credit: Elusive insurance of firm growth

    NARCIS (Netherlands)

    Bams, Dennis; Bos, Jaap; Pisa, Magdalena

    2016-01-01

    Firms depend heavily on trade credit. This paper introduces a trade credit network into a structural model of the economy. In an empirical analysis of the model, we find that trade credit is an elusive insurance: as long as a firm is financially unconstrained and times are good, more trade credit

  7. Agency Costs, Firm Value, and Corporate Investment

    NARCIS (Netherlands)

    M. Teixeira de Vasconcelos (Manuel)

    2012-01-01

    textabstractOften firms lack the necessary internal resources to pursue all profitable investment opportunities at their disposal. One of the most important roles of financial markets is to allocate resources from different economic agents to the firms that will better employ them, thereby enabling

  8. Trade credit: Elusive insurance of firm growth

    NARCIS (Netherlands)

    Bams, Dennis; Bos, Jaap; Pisa, Magdalena

    2016-01-01

    Firms depend heavily on trade credit. This paper introduces a trade credit network into a structural model of the economy. In an empirical analysis of the model, we find that trade credit is an elusive insurance: as long as a firm is financially unconstrained and times are good, more trade credit en

  9. The Image of Financial Institution as Islamic Bank In Mediation Service Quality and Customer Satisfaction on Customer Loyalty in Purwokerto.

    OpenAIRE

    Chandra Warsito

    2015-01-01

    The paper aims to determine the effect of service quality on customer satisfaction, service quality, customer satisfaction and image on customer loyalty, quality of service to the company’s image, to determine the image of financial institutions in mediating the relationship variable quality of service and customer satisfaction on customer loyalty. The samples used were 110 customers and methods of analysis used is Structural Equation Modeling (SEM) test results find no significant effect of ...

  10. The role of universities in preparing graduates to use software in the financial services workplace

    Science.gov (United States)

    Tickle, Leonie; Kyng, Tim; Wood, Leigh N.

    2014-02-01

    The role of universities in preparing students to use spreadsheet and other technical software in the financial services workplace has been investigated through surveys of university graduates, university academics, and employers. It is found that graduates are less skilled users of software than employers would like, due at least in part to a lack of structured formal training opportunities in the workplace, and a lack of targeted, coherent learning opportunities at university. The widespread and heavy use of software in the workplace means that there is significant potential for productivity gains if universities and employers address these issues.

  11. Differential Dynamic Evolutionary Model of Emergency Financial Service Supply Chain in Natural Disaster Risk Management

    Directory of Open Access Journals (Sweden)

    Shujian Ma

    2016-01-01

    Full Text Available A government-market-public partnership (GMPP could be a feasible arrangement for providing insurance coverage for natural disaster. Firstly, we put forward GMPP management mode. Secondly, the emergency financial service supply chain for natural disaster risk is built from the view of supply chain. Finally, the objective of this paper is to obtain insights into the cooperative and competitive relationship in GMPP system. We establish the cooperative and competitive differential dynamic evolutionary models and prove the existence of equilibrium solutions in order to solve the coordination problems. In conclusion, the equilibrium solutions can be achieved among the insurers, the operating governments, and the public.

  12. Financial incentives and psychiatric services in Australia: an empirical analysis of three policy changes.

    Science.gov (United States)

    Doessel, D P; Scheurer, Roman W; Chant, David C; Whiteford, Harvey

    2007-01-01

    Australia has a national, compulsory and universal health insurance scheme, called Medicare. In 1996 the Government changed the Medicare Benefit Schedule Book in such a way as to create different financial incentives for consumers or producers of out-of-hospital private psychiatric services, once an individual consumer had received 50 such services in a 12-month period. The Australian Government introduced a new Item (319) to cover some special cases that were affected by the policy change. At the same time, the Commonwealth introduced a 'fee-freeze' for all medical services. The purpose of this study is two-fold. First, it is necessary to describe the three policy interventions (the constraints on utilization, the operation of the new Item and the general 'fee-freeze'.) The new Item policy was essentially a mechanism to 'dampen' the effect of the 'constraint' policy, and these two policy changes will be consequently analysed as a single intervention. The second objective is to evaluate the policy intervention in terms of the (stated) Australian purpose of reducing utilization of psychiatric services, and thus reducing financial outlays. Thus, it is important to separate out the different effects of the three policies that were introduced at much the same time in November 1996 and January 1997. The econometric results indicate that the composite policy change (constraining services and the new 319 Item) had a statistically significant effect. The analysis of the Medicare Benefit (in constant prices) indicates that the 'fee-freeze' policy also had a statistically significant effect. This enables separate determination of the several policy changes. In fact, the empirical results indicate that the Commonwealth Government underestimated the 'savings' that would arise from the 'constraint' policy.

  13. Bridging the financial gap through providing contract services: a model for publicly funded clinical biobanks.

    Science.gov (United States)

    Kozlakidis, Zisis; Mant, Christine; Cason, John

    2012-08-01

    Biobanks offer translational researchers a novel method of obtaining clinical research materials, patient data, and relevant ethical and legal permissions. However, such tissue collections are expensive to establish and maintain. Current opinion is that such initiatives can only survive with core funding from Government or major funding bodies. Given the present climate of financial austerity, funding agencies may be tempted to invest in fast-return research projects rather than in maintaining tissue collections, whose benefits will only become apparent in much longer timescales. Thus, securing additional funding for biobanks could provide a valuable boost enabling an extension of core services. Here we suggest that using biobank expertise to offer contract services to clinicians and industry may be an alternative approach to obtaining such extra funding.

  14. 12 CFR 303.46 - Financial education programs that include the provision of bank products and services.

    Science.gov (United States)

    2010-01-01

    ... provision of bank products and services. 303.46 Section 303.46 Banks and Banking FEDERAL DEPOSIT INSURANCE... Branches and Offices § 303.46 Financial education programs that include the provision of bank products and services. No branch application or prior approval is required in order for a state nonmember bank...

  15. As Kibs e a inovação tecnológica das firmas de serviços Kibs and technological innovation of service firms

    Directory of Open Access Journals (Sweden)

    Luis Claudio Kubota

    2009-08-01

    Full Text Available No âmbito da União Europeia e da OCDE, é crescente a importância atribuída aos intangíveis e aos serviços na chamada Economia Baseada no Conhecimento. Algumas firmas de serviços são classificadas como Knowledge Intensive Business Services (Kibs, ou seja, serviços empresariais intensivos em conhecimento. Segundo a literatura, as Kibs exercem um papel de facilitadoras da inovação, ao fornecerem a interface entre o conhecimento genérico disponível na economia e o conhecimento tácito localizado na firma. O estudo utilizou microdados da Pesquisa da Atividade Econômica Paulista (Paep 2001 para investigar empiricamente se é possível afirmar que as Kibs contribuem para a inovação tecnológica de suas clientes do próprio setor de serviços. Os resultados indicam que os serviços para os quais essa afirmativa encontra respaldo foram: jurídicos, contábeis, de soluções de internet, de comunicação empresarial, de publicidade e propaganda e de gestão empresarial.For the European Union and the OECD, a great importance is given to the intangibles and services in the so called Knowledge Based Economy. Some services firms are classified as Knowledge Intensive Business Firms (Kibs. According to the literature, Kibs act as facilitators of innovation, because they function as interfaces of the generic knowledge available in the economy, and the tacit knowledge of the firms. The study explored microdata from the Survey of the Economic Activity in São Paulo (Paep 2001, to investigate empirically if it is correct to state that Kibs contribute to the technological innovation of their clients of the services sector. The results indicate that the services for which this statement is true are: juridical, accountancy, internet solutions, business communications, advertisement and business management.

  16. Approaches to Risk and Consumer Policy in Financial Service Regulation in the UK

    Directory of Open Access Journals (Sweden)

    Peter Lunt

    2006-01-01

    Full Text Available The financial service and communication sectors in the UK have been subject to radical re-organisation, involving the formation of sector-wide regulatory bodies (FSA and Ofcom with wide-ranging powers and statutory obligations. Although both have responsibilities for assessment and management of risk, their remits go beyond traditional approaches to regulation. Hence, although primarily oriented to economic policy, both regulators address questions of corporate responsibility, balance of stakeholder interests, the public good, consumer representation and public participation. Accordingly, they are undertaking a range of activities, including consumer education and research, public consultation and the involvement of stakeholders in policy review. Focusing on the case of financial services, this paper presents an analysis of two early speeches by FSA directors, one focused on the approach to risk adopted by the regulator and the other on consumer policy. The second part of the paper considers the conceptual issues regarding different modes of risk management in the new regulators, requiring an account of the various levels and forms of involvement by stakeholders and publics in the identification and management of risk. It follows on from the analysis of the speeches to examine the relationship between risk and consumer policy in the practices of the FSA. URN: urn:nbn:de:0114-fqs0601323

  17. Critical success factors for business intelligence in the South African financial services sector

    Directory of Open Access Journals (Sweden)

    Lionel Dawson

    2013-02-01

    Full Text Available Background: Business intelligence (BI has become an important part of the solution to providing businesses with the vital decision-making information they need to ensure sustainability and to build shareholder value. Critical success factors (CSFs provide insight into those factors that organisations need to address to improve new BI projects’ chances of success.Objectives: This research aimed to determine which CSFs are the most important in the financial services sector of South Africa.Method: The authors used a Delphi-technique approach with key project stakeholders in three BI projects in different business units of a leading South African financial services group.Results: Authors regarded CSF categories of ‘committed management support and champion’,‘business vision’, ‘user involvement’ and ‘data quality’ as the most critical for BI success.Conclusions: Researchers in the BI field should note that the ranking of CSFs in this study only correlate partially with those a European study uncovered. However, the five factors the authors postulated in their theoretical framework ranked in the seven highest CSFs. Therefore, they provide a very strong validation of the framework. Research in other industries and other emerging economies may discover similar differences and partial similarities. Of special interest would be the degree of correlation between this study and future, and similar emerging market studies. Practitioners, especially BI project managers, would do well to check that they address the CSFs the authors uncovered before undertaking BI projects.

  18. Efficiency Improvement and Quality Initiatives Application in Financial Institutions

    OpenAIRE

    MSc. Ajtene Avdullahi; MSc. Vjosa Fejza

    2015-01-01

    Financial institutions in today’s economy have no longer the luxury to improve profit simply by increasing revenue. These firms, due to the significant measuring reductions in the financial services industry needed to improve operational efficiencies and merely support existing processes with fewer resources. This paper explains the benefits of Lean, Six Sigma, Total Quality Management and Lean Six Sigma that have improved organization's performance, by cutting costs and waste, improving thei...

  19. Financialization of the economy and the need for personal finance advisory services

    Directory of Open Access Journals (Sweden)

    Krzysztof Waliszewski

    2016-10-01

    Full Text Available Financialization of households is a result of the growing role of financial systems and instruments in the economy. The increased role of financial phenomena in financial and non-financial decisions taken by households is not proportional to capabilities of their perception and understanding by households which possess basic knowledge in finance. The missing link between institutions and financial markets offering more complex financial solutions and the consumer may be a financial advisor who can perform many important roles with respect to households. The aim of this article is to present financialization of the economy and households and the role that can be played by financial advisors in decreasing the imbalance of information between the consumer and financial institutions, as well as the lack of symmetry in understanding financial information by the consumer.

  20. Belgian firms visiting CERN

    CERN Multimedia

    FP Department

    2009-01-01

    25 – 26 MAY 2009 09.00 to 17.00 Monday 25 May 09.00 to 17.00 Tuesday 26 May Individual interviews will take place in technicians’ offices. The firms will contact relevant users/technicians but any user wishing to make contact with a particular firm is welcome to use the contact details which are available from each departmental secretariat or from the GS Department web pages here. List of Companies:Automation Services and Consulting BVBA Burrick NV, (PLC) Cissoid DB Engineering Design, Drafting & Services BVBA Entelec Control Systems GILLAM-Fei S.A. HPC ICSENSE IWT – Enterprise Europe Flanders Jema SA Mecasoft SA SA Polmans Rapid-Torc Resarm Engineering Plastics SA Sentera Europa NV SLC BVBA Stocker Industrie SA Technord Tecnubel Winlock BVBA For further information please contact Caroline Laignel (GS-DI 73722) or Karine Robert (GS-SEM-LS 74407).

  1. Provision and financial burden of TB services in a financially decentralized system: a case study from Shandong, China.

    Science.gov (United States)

    Meng, Qingyue; Li, Renzhong; Cheng, Gang; Blas, Erik

    2004-01-01

    Both challenges and opportunities have been created by health sector reforms for TB control programmes in developing countries. China has initiated radical economic and health reforms since the late 1970s and is among the highest TB endemic countries in the world. This paper examines the operation of TB control programmes in a decentralized financial system. A case study was conducted in four counties of Shandong Province and data were collected from document reviews, and key informant and TB patient interviews. The main findings include: direct government support to TB control weakened in poorer counties after its decentralization to township and county governments; DOTS programmes in poorer counties was not implemented as well as in more affluent ones; and TB patients, especially the low-income patients, suffered heavy financial burdens. Financial decentralization negatively affects the public health programmes and may have contributed to the more rapid increase in the number of TB cases seen over the past decade in the poorer areas of China compared with the richer ones. Establishing a financial transfer system at central and provincial levels, correcting financial incentives for health providers, and initiating pro-poor projects for the TB patients, are recommended.

  2. Dental Care Presents The Highest Level Of Financial Barriers, Compared To Other Types Of Health Care Services.

    Science.gov (United States)

    Vujicic, Marko; Buchmueller, Thomas; Klein, Rachel

    2016-12-01

    The Affordable Care Act is improving access to and the affordability of a wide range of health care services. While dental care for children is part of the law's essential health benefits and state Medicaid programs must cover it, coverage of dental care for adults is not guaranteed. As a result, even with the recent health insurance expansion, many Americans face financial barriers to receiving dental care that lead to unmet oral health needs. Using data from the 2014 National Health Interview Survey, we analyzed financial barriers to a wide range of health care services. We found that irrespective of age, income level, and type of insurance, more people reported financial barriers to receiving dental care, compared to any other type of health care. We discuss policy options to address financial barriers to dental care, particularly for adults.

  3. Policy Recommendations on Promoting Rural Financial Products and Financial Service in Henan Province%推进河南农村金融产品和服务方式创新的政策建议

    Institute of Scientific and Technical Information of China (English)

    曹明贵; 高琪

    2014-01-01

    针对河南农村金融产品和金融服务方式存在的问题,提出了推进河南农村金融产品和服务方式创新的政策建议,包括完善农村金融组织体系、加快农村金融产品创新、提高农村金融服务水平、规范发展非正规金融、完善农村金融生态环境等方面内容,以供借鉴。%The innovation of rural financial products and financial services is great importance to the rural financial development.Aimed at the problems existing in rural financial products and rural financial services ,this article advocated the innovation of rural financial products and the rural financial services ,which included improving rural financial organization system ,promoting the innovation of rural financial products ,improving rural financial service levels ,developing irregular finance in a standardized way ,and perfecting rural financial environment.

  4. NEED OF FINANCIAL INSTITUTIONS SUPERVISION THROUGH AN SINGLE FRAMEWORK OF MACRO-PRUDENTIAL SUPERVISION

    Directory of Open Access Journals (Sweden)

    MEDAR LUCIAN-ION

    2013-12-01

    Full Text Available Joint Committee of the European Supervisory Authorities required Member States to implement new macro-prudential indicators.through national authorities of prudential supervision will be perform activities concerning the supplementary supervision of credit institutions, insurance companies or reinsurance companies, investment services firms and investment management firms, from a financial conglomerate. The most popular ways that give stability to the financial system are related to normal functioning of markets, to ensure implementation of payments in the economy and especially achieving a quality financial intermediation. Activities concerning macroprudential supervision concern, first of all, of managerial strengthening of internal control, assessment and management of risks

  5. Research on Rural Financial Service by the View of Financial Demand%金融需求视角下的农村金融服务研究

    Institute of Scientific and Technical Information of China (English)

    许峻桦

    2011-01-01

    As the important content of the central bank branches functions on improving the development of local economy,rural financial services have been paid much attention.This paper argues about these existing problems in rural financial service by the view of%农村金融服务作为基层央行推动地方经济发展实现有效履职的重要内容而备受关注,本文以渝东南三县作为研究样本,基于金融需求的视角对农村金融服务现状进行了分析并提出了相关对策建议。

  6. The Financial Evaluation of Pharmaceutical Listed Firms Based on Factor Analysis and Cluster Analysis%基于因子分析和聚类分析的医药上市公司财务评价

    Institute of Scientific and Technical Information of China (English)

    潘欣; 郭继荣

    2016-01-01

    Medical and health system reform has entered into the phase of the deepwater area in our country. Because of the characteristics of high technology, high investment, high return and high risk, and big policy-effected, pharmaceutical listed firms are facing more serious financial risk than generally listed ones. The study of pharmaceutical listed firms’ financial risk evaluation is of great significance. Factor analysis by numerous correlation dimension reduction to the original index condensed into a few factors can generalize data information, and then get firms’ composite scores through the statistical analysis, which overcomes the artificial randomness to determine the weight. Factor scores and comprehensive scores of pharmaceutical manufacturing firms uniting factor analysis and cluster analysis is beneficial to the comprehensive, objective and accurate evaluation of the firms’ financial situation.%我国医疗卫生体制改革已经进入深水区阶段,由于高技术、高投入、高回报、高风险和受政策冲击大等特性的影响,医药上市公司较一般上市公司面临着更加严峻的财务风险,研究医药上市公司的财务风险评价具有重要意义。因子分析通过降维把众多具有相关性的原始指标浓缩成少数几个能高度概括数据信息的因子,通过统计分析可以得到公司综合得分,克服了人为确定权数的随意性。通过综合聚类分析和因子分析得到的医药制造公司的因子得分和综合得分情况,有利于全面、客观、准确地评价公司的财务状况。

  7. A new financial budgetary system for community health services institutions in China.

    Science.gov (United States)

    You, Chuanmei; Yao, Lan; Fu, Jiakang; Wang, Fang; Wang, Hongqing; Dai, Tao

    2011-01-01

    The separation of revenue and expenditure budgets (SREB) is a new financial budgetary system that is being implemented in community health services (CHS) institutions in some areas in China. Through literature review, it was found that, derived from the traditional separation of revenue and expenditure budgets (TSREB) implemented in administrative public services units, SREB and TSREB have something in common and yet many more differences. On the basis of some quantitative and qualitative data that were collected by field survey, it was also found that implementation of SREB in CHS institutions brings positive outcomes in terms of the quantity, quality and efficiency of services; residents' satisfaction; and the behavior of CHS institutions. The conclusion can be suggested that SREB, as a system having impact upon the incentives facing CHS institutions and the nature of governmental responsibility for developing CHS in China, will promote CHS institutions to fulfill basic service functions if implemented well. Therefore, it is a system that is worth further development and evaluation.

  8. Financial Mechanisms to Improve the Supply of Ecosystem Services from Privately-Owned Australian Native Forests

    Directory of Open Access Journals (Sweden)

    Ian Ferguson

    2016-02-01

    Full Text Available Much of Australia’s native forest is privately-owned and is needing investment to maintain and improve the supply of a wide range of ecosystem services. This paper reviews mechanisms presently used in Australia to improve the supply of ecosystem services, with particular emphasis on financial mechanisms. Auction, green bond and biobanking schemes are widely and, so far, successfully used in a number of States, especially in projects where the actions required and ecosystem services can be readily measured. Measurement of biodiversity and biodiversity-based services remains problematic, despite some fairly widespread application of different measurement systems. Inadequate or variable measurement systems could engender a loss of investor interest if equivalence or gains cannot be appropriately verified. A new Biodiversity Investment Scheme is proposed, based on the structure used commercially in Managed Investment Schemes. The choice of mechanism, however, will be mainly determined by landowner attitudes to assignment of property rights, and by scale, the extent of public versus private consumption goods, and the transaction costs and risks.

  9. The Impacts of Business Support Services for Small and Medium Enterprises on Firm Performance in Low-and Middle-Income Countries: A Systematic Review

    Directory of Open Access Journals (Sweden)

    Piza C

    2016-01-01

    Full Text Available BACKGROUND AND OBJECTIVES OF THE REVIEW Business support interventions in low and middle-income countries (LMICs direct a large amount of resources to SMEs, with the assumption that institutional constraints impede small and medium-sized enterprises (SMEs from generating profits and employment at the firm level, which in turn is thought to impede economic growth and poverty reduction. Yet despite this abundance of resources, very little is known about the impact of such interventions. To address this gap, this systematic review analyses evaluations of SME support services in LMICs to help inform policy debates pertaining to SMEs and business support services. This review examines the available evidence on the effects of SME support services in LMICs on firm-level performance indicators (such as revenues, profits, and productivity, employment generation, and labour productivity. METHODS We systematically searched for available literature. To identify relevant papers for this review, we conducted electronic searches on key platforms; snowball sampling of references from relevant papers and book chapters, and suggestions from recognized experts in the field. We focused on LMICs as defined by the World Bank classifications, and on evidence published since the year 2000, so as to include more sophisticated evaluation techniques. The references retrieved for this review are up-to-date as of December 2014. We included studies that evaluated the effectiveness of business support services on firm level outcomes of SMEs in low- and middle-income countries. We defined SMEs as firms with between two and 250 employees, but also included studies that used annual revenue to classify firms as SMEs instead of employee count. We examined interventions involving tax simplification, exports and access to external markets; support for innovation policies; support to local production systems; training and technical assistance, and SME financing and credit guarantee

  10. Analysis of the environmental strategies for supportting the economic-financial evaluation of energy sector firms within the corporate sustainability index – ISE

    Directory of Open Access Journals (Sweden)

    Luciano Queiroz de Araújo Júnior

    2014-11-01

    Full Text Available Business companies have entered the sustainable development to achieve growth in the market in which they operate and remain in the long term, as well as the generation of higher income. The objective of the present study is to correlate the environmental strategies as support for assessment and financial return of the Brazilian energy sector companies that are listed in the corporate sustainability Index (ISE in the Bolsa de Valores Bovespa/BMF. For this correlation analysis, we used the Data Envelopment Analysis DEA, to perform the assessment of efficiency through the classic border and construction of a combined index ranking, with statistical analysis conducted by SPSS, with the data from the 10 companies in the energy sector used in the research. For analysis of environmental strategies, analyzed all the Yearbooks published, through a qualitative analysis. As a result, was raised a ranking of companies which presents the company Light S/A as the most efficient financial and environmental correlation. Is also a general survey of the main strategies used by each company, in order to contribute to a sustainable actions alignment to the State of national art.

  11. internet financial reporting by commercial banks

    African Journals Online (AJOL)

    NESG PUBLICATIONS

    have financial information posted on ... The Distribution of Different Types of Online Financial Information by IFR Firms in Hong Kong. ... with 57 providing detailed accounting .... The Journal of Financial Information System, 16 (3) 158 – 193.

  12. Developing creative and innovative thinking and problem-solving skills in a financial services organisation

    Directory of Open Access Journals (Sweden)

    Cherylene De Jager

    2013-01-01

    Full Text Available Orientation: An important evaluation function is to determine whether creative and innovative thinking and problem-solving skills can be developed through training and to assess whether these skills, on their own, are sufficient to ignite innovation in organisations. Research purpose: The evaluation question that the present study aimed to address is whether employees in a corporate context, such as a financial services organisation, can develop creative and innovative thinking and problem-solving skills through an intervention such as a workshop. Motivation for the study: A financial services organisation commissioned the primary author of this article to design a workshop with the intent to develop the creative and innovative thinking and problem-solving skills of their employees in order to ignite innovation and competitiveness. Research design, approach and method: This study employed mainly qualitative research. Utilisation-focused evaluation (UFE was employed and findings from the literature review, questionnaires, pen-and-paper tests and interviews were used. The unit of analysis was a niche business unit in a South African financial services organisation.Main findings: From this study’s point of view, the most critical finding related to the confirmation that individuals can acquire creative and innovative thinking and problemsolving skills. The acquisition of these skills, however, is not sufficient on its own to establish a culture supportive of creativity and sustainable innovation. Practical/managerial implications: The development of creative and innovative thinking and problem-solving skills of employees is not sufficient on its own to support sustainable innovation. Managers should consciously establish determinants on an organisational as well as an individual level to create an environment supportive of sustainable innovation. Contribution/value-add: The present study indicated how a workshop can assist

  13. Financial barriers to utilization of screening and treatment services for breast cancer: an equity analysis in Nigeria.

    Science.gov (United States)

    Okoronkwo, I L; Ejike-Okoye, P; Chinweuba, A U; Nwaneri, A C

    2015-01-01

    To determine financial barriers that impede the utilization of screening and treatment services for breast cancer among Nigerian women from different socioeconomic groups. A descriptive study was carried out in 2013 among women attending the oncology clinic of a tertiary institution in Enugu, Southeast Nigeria. Data were collected from 270 women using an interviewer-administered questionnaire. The links between the influence of socioeconomic factors on barriers to the utilization of breast cancer screening and treatment services were examined. A total of 270 women were studied. The mean age was 34.69 (Standard deviation = 5.07) years. Half of the study participants were single 141 (51.3%), while 105 (38.2%) were married. Cost of medical treatment and not having insurance coverage was major financial barriers to utilization of screening and treatment services. The least poor and poor socioeconomic status (SES) groups utilized screening services and treatment more frequently than the very poor and poorest SES groups ( P = 0.034). There was no significant difference in the utilization of the different treatment options among the different socioeconomic groups with the exception of surgery (χ² = 11.397; P = 0.000). Financial barriers limit the ability of women, especially the poorest SES group, to utilize screening and treatment services for early diagnosis and treatment of breast cancer. Interventions that will improve financial risk protection for women with breast cancer or at risk of breast cancer are needed to ensure equitable access to screening and treatment services.

  14. Cash Holdings and Leverage of German Listed Firms

    DEFF Research Database (Denmark)

    Rapp, Marc Steffen; Killi, Andreas Maximilian

    2016-01-01

    We examine cash holdings and leverage levels of German listed (non-financial and non-utility) firms. We document a secular increase in cash ratios over the last twenty years (1992–2011), reducing the net debt book leverage ratio for the average sample firm close to zero. Using prediction models...... firms are associated with measures of uncertainty faced by firms. Our results suggest that German firms have increased (reduced) their cash (net debt leverage) levels over time in order to adopt more precautionary financial policies....

  15. Economic costs of drug abuse: financial, cost of illness, and services.

    Science.gov (United States)

    Cartwright, William S

    2008-03-01

    This article examines costs as they relate to the financial costs of providing drug abuse treatment in private and public health plans, costs to society relating to drug abuse, and many smaller costing studies of various stakeholders in the health care system. A bibliography is developed from searches across PubMed, Web of Science, and other bibliographic sources. The review indicates that a wide collection of cost findings is available to policy makers. For example, the financial aspects of health plans have been dominated by considerations of actuarial costs of parity for drug abuse treatment. Cost-of-illness methods have been developed and extended to drug abuse costing to measure the national level of burden and are important to the economic evaluation of interventions at the program level. Costing is done in many small and focused studies, reflecting the interests of different stakeholders in the health care system. For costs in programs and health plans, as well as cost offsets of the impact of substance abuse treatment on medical expenditures, findings are surprisingly important to policy makers. Maintaining ongoing research that is highly policy relevant from the point of view of health services, more is needed on costing concepts and measurement applications.

  16. INFORMATION AND COMMUNICATION TECHNOLOGIES TO DELIVER FINANCIAL SERVICES FOR THE LOW-INCOME POPULATION: CORRESPONDENT BANKING AT BANCO LEMON

    Directory of Open Access Journals (Sweden)

    Cesar Akira Yokomizo

    2010-12-01

    Full Text Available Brazilian banks have developed innovative initiatives to deliver financial services for the lowincome population through correspondent banking (CB. Banco Lemon is such an interesting case to be studied because it has implemented a business model based exclusively on CB outlets and its focus was on low-income clients. This paper describes Banco Lemon’s adoption process of the CB technology to deliver financial services for the low-income population, promoting a historical description of the bank’s activities, since its creation and up to the year 2009. Eventually, this paper concludes that bill payment initiatives were successful while credit initiatives led to unexpressive outcomes.

  17. Innovation in consulting firms: what are the foundations?

    OpenAIRE

    Lemus Aguilar, Isaac; Hidalgo Nuchera, Antonio

    2015-01-01

    Innovation inside consulting firms has missed specific attention in academic research. Consulting firms usually are considered to be part of Knowledge-Intensive Business Services (KIBS), Professional Service Firms (PSF) or Project-based Firms (PbF). However, consultancies possess particular characteristics that might affect generalizations made in studies targeting all the categories stated before. Consulting firms usually help other companies to be innovative, but they also need to have inno...

  18. Optimal Investment by Financially Xenophobic Managers

    OpenAIRE

    Cummins, Jason G; Ingmar Nyman

    2000-01-01

    Case studies show that corporate managers seek financial independence to avoid interference by outside financiers. We incorporate this financial xenophobia as a fixed cost in a simple dynamic model of financing and investment. To avoid refinancing in the future, the firm alters its behavior depending on the extent of its financial xenophobia and the realization of a revenue shock. With a sufficiently adverse shock, the firm holds no liquidity. Otherwise, the firm precautionarily saves and hol...

  19. LEARNING, ENTREPRENEURSHIP AND INNOVATION ORIENTATIONS IN TURKISH FAMILY-OWNED FIRMS

    Directory of Open Access Journals (Sweden)

    Erkut Altindag

    2011-11-01

    Full Text Available Globalization is forcing family-owned companies need to be more flexible and faster organization structures to respond effectively to the customers’ growing various types needs on the certain line of producing high quality goods and services these days. With the start of a new paradigm era in strategic management field, family- owned firms began to choose different tools to maximize their sustainable performance against rivals. These tools include special strategic orientations including learning, entrepreneurship and innovation implications. Our study tries to explore the effects of strategic orientations implications into firm performance and their effects on growth and financial performance in Turkish family-owned companies.

  20. Studying the role of marketing mix on performance of leasing service providers firms (case: Ghadir leasing company)

    OpenAIRE

    F. Mohsenidoust; Z. Amini Sabegh

    2016-01-01

    Leading companies have been discovered in the application of the principles of management and marketing at all stages from design to sale of goods and services. Marketers should adopt in order to determine the best method of introducing goods and services to consumers’ various choices. Toolbox of marketing strategy is called marketing mix which contains tools used to create favorable reaction among consumers. In addition to the four traditional foundation factors such factors as improved phys...