Enterprise Risk Management (ERM) is a new concept of managing risks holistically and in Malaysia, such a concept is still relatively new among Malaysian companies. On a positive note however, the ERM concept appear to be receiving much attention over the recent years from various businesses and industries in Malaysia. This particular study aims to determine the level of ERM adoption among the G…
Using a survey of risk management practices in the insurance industry we examine the impact of enterprise risk management on firm performance. We find enterprise risk management improves firm operating performance. Firms with Chief Risk Officers, dedicated risk committees, and risk management entities that report to Chief Financial Officers experience higher cost efficiency and return on a…
As an emerging field of applied research, Quantitative Risk Management (QRM) poses a lot of challenges for probabilistic and statistical modeling. This review provides a discussion on selected past, current, and possible future areas of research in the intersection of statistics and quantitative risk management. Topics treated include the use of risk measures in regulation, including their…
This thesis consists of three essays at the intersection of banking, corporate finance and macro- economics. Unifying the essays are two themes: firstly a focus on how firms (Chapter 1 and Chapter 2) and individuals (Chapter 3) insure against, and react to, sources of macroeconomic risk; secondly the role of financial institutions in the transmission of macroeconomic shocks. Turning to specifi…
Although occasionally we like to try the new and different, on the whole, we humans resist change. We find comfort and a sense of confidence in the tried-and-true, in doing things the way we’ve always done them. Resistance to change is not unique to the individual. The groups, institutions and disciplines that we are part of also resist change. They often create barriers, sometimes inadverten…
Traditionally, cost accounting is considered as the technique and process of ascertaining costs of a given thing. In sixties, the definition of cost accounting was modified as ‘the application of costing and cost accounting principles, methods and techniques to the science, art and practice of cost control and ascertainment of profitability of goods, or services’. It includes the presen…
Thoughtful people disagree about the proper role of the news media. Some believe that journalists should support government and supply the public only with information the government deems appropriate. Some believe the press instead should be the government’s watchdog, searching out and reporting on abuses of power
The importance of efficiency in business organization has never been so generally recognized as at the present time, and there is promise of even greater development in the future. One indication of this condition is the increased volume of literature that is now available on the subject. More than 90% of this literature has been published in the last decade, and fully 75% in the last five year…
This revision of Principles of Accounting is based on an understanding of the nature, culture, and motivations of today’s undergraduate students and on extensive feedback from many instructors who use our book. These substantial changes meet the needs of these students, who not only face a business world increasingly complicated by ethical issues, globalization, and technology but who als…
Strategic BCP® established in 2004 – Purpose : elevate the productivity and relevance of business continuity (BC) professionals – ResilienceONE® introduced as a milestone in using technology to streamline the process of creating and maintaining BC plans
How do people really learn? The answers and theories are endless. They include ideas ranging from genetic imprinting to osmosis and modeling and emotional intelligence. Brain research is voluminous in the 21st century. For now, though, please ask yourself: How do I learn? Isn’t that an interesting question? And, what do you learn? Do you learn information from reading, watching videos, u…
Administrative law is the bye-product of the growing socio-economic functions of the State and the increased powers of the government. Administrative law has become very necessary in the developed society, the relationship of the administrative authorities and the people have become very complex. In order to regulate these complex, relations, some law is necessary, which may bring about regula…
With a certain mind-numbing frequency, users of financial statements—investors and creditors—find themselves buffeted with announcements of accounting irregularities. These irregularities are called many things, including aggressive accounting, earnings management, income smoothing, and fraudulent financial reporting. While they may vary in the degree to which they misreport financial r…
meant to represent a companion publication to the earlier and more basic book entitled “Fundamentals of monetary policy in the euro area” insofar as it covers topics that are more of a macroeconomic nature. Given the strong empirical focus that macroeconomics has witnessed over the last decades, the book aims at supplementing the basic concepts with a number of real-world examples c…
Managerial Accounting is designed for accounting and nonaccounting business students. It covers the managerial use of accounting data for planning, control, and decision making. As in the preceding volumes in the Schaum’s Outline Series in Accounting, the solved problems approach is used, with emphasis on the practical application of managerial accounting concepts, tools, and methodology. …
Many African women undertake income-generating activities in order to sustain their families and have some private income. Some women prefer to run their economic activities as individuals, others have formed groups. However, many income-generating projects, especially with rural women, give only little income. Meanwhile, the need for cash income becomes more important day by day. Even in area…
Despite the recent rash of corporate scandals and the resulting rush to address the problem by adding more laws and regulations, seemingly little attention has been paid to how the nature (not the substance) of rules may or may not affect ethical decision-making. Drawing on work in the law, ethics, management, psychology, and other social sciences, this article explores how several characterist…
On 4 August 2011, a young black man was shot dead by police officers in the north London area of Tottenham. The shooting of Mark Duggan, as well as the way in which it was handled by the Metropolitan Police and Independent Police Complaints Commission, triggered a series of riots that spread like wildfire across the cities of England. As with the disturbances in the northern English towns in …
Some people use fridge magnets to keep notes or lists on the fridge’s door. You even get magnets in the shape of words or letters that you can put on a fridge door to play with. The magnets make the letters stick to the metal of the fridge door. Can you think of other ways in which magnets can help us in our daily lives? In this chapter, you will learn about different types of magnets and h…
E conomics has traditionally been defined by both its methods and its subject matter. That is to say, there are economic methods—models and statistical tests—that are based on a set of assumptions about the way people behave and interact with one another. Moreover, there is a distinct set of “tools” or “principles” economists employ in their analyses
The European financial landscape has changed dramatically over the last couple of years and the pace of change appears to have moved into a higher gear with the establishment of Economic and Monetary Union (EMU). However, although EMU and the introduction of the euro have played a pivotal role in the changes the European financial system has been undergoing, a host of other factors can be ident…
There is a widespread view that the Credit Crunch of 2007-9 was, in part, a result of insufficient reach of regulation and that a solution is to take existing regulation and spread it more comprehensively across more institutions and jurisdictions. That would be an incorrect diagnosis. At the heart of the crisis were highly regu- lated institutions in regulated jurisdictions. The crisis has inv…