bluuebunny/crossref_metadata_2025_split huggingface dataset:
The financial communication during a period of transition
Authors: Heldenbergh A. , Scoubeau C. , Arnone L. , Croquet M. 
Published: July 2006

PurposeTo emphasise the important role of financial communication strategies implemented by companies during critical public share issues and identify their main characteristics.Design/methodology/approachA review of the available literature on the subject (1991‐2003) describes the risks brought about by public share issues, the main roles of the financial communication strategy and its targets. A qualitative investigation conducted in Belgian bank companies (by interviews) details the different financial communication strategies implemented during mergers and acquisitions.FindingsFinancial communication is not only concerned with financial figures and data, but has also a specific role in building the company's image, reputation and confidence. This is particularly true in case of mergers and acquisitions since these events can strongly affect the company's identity. Internal as well as external communications have to be considered. Some managerial implications are proposed.Research limitations/implicationsThe investigation was conducted in Belgian bank companies, which are not necessarily representative of the practices in other countries. Quantitative studies should be conducted in order to isolate impact of financial communication on mergers and acquisitions success.Practical implicationsAn interesting approach of financial communication and a description of its role in reducing the risks brought about during critical public share issues such as mergers and acquisitions.Originality/valueFinancial communication is less developed than the other types of communications, but is quite so important. This paper contributes to a better understanding of the role of the financial communication as part of the global communication strategy.
Voltage mode multifunction OTA‐C biquad filter
Authors: Kumar K. , Pal K. 
Published: July 2006

PurposeTo develop an OTA‐C‐based universal filter realizing all standard transfer functions viz low pass, high pass, band pass, notch and all pass without an inverting amplifier and with minimum component matching condition.Design/methodology/approachBy developing different sets of current and voltage relationship involving simple independent transconductance in biquadratic functions using three operational transconductance amplifiers the aim has been achieved.FindingsThe circuit produces all pass transfer function as stated above without inverting amplifier as has been used in most of the earlier circuits. All realizations except all pass filter requires no matching condition. The circuit remains stable for non‐ideal OTAs.Originality/valueThe proposed circuit finds wide utility in industrial and research applications as a signal processing element.
Low voltage CCII‐based high performance cascadable multifunctional filter
Authors: Parveen T. , Rajput S.S. , Ahmad M.T. 
Published: July 2006

PurposeAims to present a new low voltage CCII‐based high frequency performance voltage mode multifunctional filter, which can realize standard biquadratic low pass, band pass and high pass functions through appropriate selection of admittances.Design/methodology/approachDescribes the filter which consists of a CMOS plus type CCII along with five passive components out of which four components are grounded while one is floating.FindingsSimulation results indicate matching between theoretical and simulated performances over a wide dynamic range.Originality/valueProvides simulation results that confirm the excellent performance of a multifunctional CCII+ filter.
Impact of environmental regulations on green electronics manufacture
Authors: Ciocci Richard , Pecht Michael 
Published: July 2006

PurposeThe purpose of this paper is to investigate the electronic industry's reaction to environmental regulations specifically in terms of lead‐free solders and halogen‐free flame‐retardants (FRs).Design/methodology/approachThis work achieves its objective by discussing the various international regulations pertaining to electronics manufacturing and relating the industry reactions to those regulations. The electronics industry is pursuing lead‐free solders and halogen‐free FRs, in part due to regulations. However, the paper includes examples of how the industry is successful in implementing environmentally friendly changes.FindingsThe authors compared regulations from Japan, the European Union, and the US. While the regulations themselves vary in scope, industry actions to find alternatives do have common purposes. Electronics manufacturers recognize that environmentally motivated changes are beneficial in terms of waste minimization. Regardless of the regulatory motivation, minimization does lead to energy and economic efficiency.Practical implicationsElectronics manufacturers that are interested in green design will benefit from understanding present regulations. They will also benefit from the included examples of product and process improvement for the purpose of environmental compatibility. The paper includes specific examples of material alternatives to banned substances.Originality/valueThis paper derives its perspective from a similar review of literature and company findings that the authors completed in 2001. As refinement of the regulations has continued, the electronics industry has developed improvements in basic materials and processes.
FSA enforcement process review
Authors: Burger Richard 
Published: July 2006

PurposeTo consider the recommendations made by the Financial Services Authority (FSA) enforcement process review (the review).Design/methodology/approachThis paper has considered the concerns raised by the Financial Services and Markets Tribunal in the Legal & General case, the reaction of the FSA to those concerns and the terms of reference for the review, plus the impact of the review's 44 recommendations.FindingsThat the recommendations will bring greater transparency to the FSA's process of investigating regulatory breaches and taking enforcement action against firms and individuals, although it may take some time for the regulator and the city to adapt to the revised enforcement process.Originality/valueThis paper will be of interest to firms and individuals in the regulated sector and regulatory lawyers interested in the FSA's enforcement process.
Basel II – an opportunity for convergence in the EU
Authors: María Roldán José 
Published: July 2006

PurposeSeeks to present the personal viewpoint of the chairman of the Committee of European Banking Supervision (CEBS) on the opportunities for convergence afforded by the BASEL II capital framework.Design/methodology/approachHighlights some of the initiatives under way in CEBS that aim to make the above a reality in the EU.FindingsThe success of CEBS cannot be measured against the number of publications it produces but only on the impact of their implementation. More specifically, re BASEL II the real test will come with full implementation of the new framework, which will trigger full application of the CEBS agreements.Originality/valueComing from the chairman of CEBS, this paper carries great weight.
Strategies and benefits of developing a market for government securities
Authors: Fernando Lucio Juan 
Published: July 2006

PurposeThe purpose of this essay is to formulate practical steps in establishing a market for government securities. When such a market does not exist two issues are of critical importance: establish the credibility of the issuer, and create the trading avenues.Design/methodology/approachOn the issue of creating the trading avenues, there is a discussion about market design and its parameters. The essay addresses issues like access to trading platforms, depositories and settlement standards as great determinants of market design.FindingsThe case of Colombia demonstrates that a market for government securities can be created out of sound decisions that stimulate participation by various financial institutions. The study also discusses the real benefits of having developed such a market, in terms of the cost/risk and the institutional building components. However, despite the progress, the Colombian case also shows that issuer credibility and design are not enough in the long term. Maturing markets require also coherence of many other different components. To achieve this, the paper proposes that the overall level of training of market participants is a decisive element for markets to face ever growing challenges of competition from other markets and investor demands.Originality/valueThis essay is especially intended for public officials in emerging economies who are developing local markets for government securities, since it is full of practical recommendations to implement at specific events in primary and secondary markets.
Challenges facing banking in emerging markets
Authors: Clacher Iain , Doriye Joshua , Mohamed Suleiman R. , Satta Tadeo 
Published: July 2006

PurposeThis paper aims to consider the impact of modernizing payments systems within emerging economies.Design/methodology/approachFocuses on the Tanzanian experience and highlights a number of important issues that emerging economies face in undertaking such reforms. The results are based on a survey of the banking sector in Tanzania.FindingsMany participants have experienced increases in efficiency, such as faster transaction speeds, quicker settlement times, and a reduction in errors and fraudulent transactions. However, the Tanzanian case has also highlighted the importance of sufficient legal reform for both the banking sector and their customers. Finally, the findings show that clear roles for participants and well‐defined rules and regulations are essential for effective payments systems.Originality/valueThe paper adds value as it considers the impact of banking reform and modernization of payments systems from the perspective of the participants within the industry. The findings will be of value to those in the banking sector in emerging economies and gives useful insights into the Tanzanian experience.
A compliance competence partnership approach model
Authors: Edwards Jonathan , Wolfe Simon 
Published: July 2006

PurposeCompliance competence is key to the operation and reputation of the financial services sector and is now completely embedded in the way financial services organisations carry on investment business. It is also fundamental to the Financial Services Authority (FSA) in seeking to achieve its regulatory objectives as set out in sections 3‐6 of the Financial Services and Markets Act 2000. A great deal has been written on the topic of compliance and competence and the core objective of this paper is to offer a compliance competence model for financial institutions that recognises and highlights the importance of the regulator and the regulated working together as partners.Design/methodology/approachA unique compliance competence partnership approach model, arising from case study research, is proposed and consists of three key elements: good compliance practice, good ethical practice and a positive FSA relationship. The three elements are represented as a tripod with three mainstays that are intrinsically linked. The mainstays are supported by cross‐members that consist of underlying and intrinsic issues of compliance competence.FindingsThe regulator and regulated need to work together in a proactive partnership. Organisation need to formulate a clear ethical policy involving employees from every aspect.Originality/valueThe partnership approach model, advocated here, would create a real partnership between the FSA and its regulated organisations.
The impact of the 2004 research analyst rules on hedge fund research reports
Authors: Black Keith H. , Mauldin John 
Published: July 2006

PurposeHedge fund marketers frequently distribute written commentary for investors to use in research. Since, these reports are subject to new regulations of the SEC (March 2004), changes need to be made by the hedge fund marketers. This study seeks to examine this issue.Design/methodology/approachDetails the rule changes introduced by the SEC regarding research reports.FindingsConcludes that significant changes have to be made by the marketers in question in order to bring their operations into compliance with the new regulations.Originality/valueHedge fund marketers who are focused on adviser registration and the hiring of compliance officers are unlikely to have considered this important new area of regulation.
Designing a civil forfeiture system: an issues list for policymakers and legislators
Authors: Kennedy Anthony 
Published: July 2006

PurposeIn recent years an emerging global trend of introducing legislation to use civil procedures against criminal assets can be detected. However, these civil forfeiture models, which exist vary from jurisdiction to jurisdiction. This paper seeks to identify issues which need to be considered when such a scheme is being designed and examines the options which have been adopted.Design/methodology/approachThe paper examines the legislative provisions in a number of jurisdictions setting out the common issues which have arisen and the range of options which have attempted as potential solutions.FindingsThe paper concludes that jurisdictions which seek to introduce civil forfeiture legislations now have various examples from which to learn but that these models will likely evolve in the face of litigation and experience as legislatures and policymakers attempt to produce fair but effective procedures for the civil recovery of criminal proceeds.Originality/valueAs further jurisdictions respond to this emerging trend and draft their own legislation, there is much to be leant from the issues which others have considered necessary to address and the way in which these issues have been dealt with.
Why (some) fraud prosecutions fail
Authors: Wright Rosalind 
Published: July 2006

PurposeThe paper aims to demonstrate the causes of failure of some fraud prosecutions.Design/methodology/approachThe paper provides a review of common contexts within which prosecutions of allegations of fraud are brought and discussion of the factors which influence the prosecutor, the investigator, the defence, the trial judge and the fact‐finders.FindingsSeveral factors are common to many fraud prosecutions which, taken together, make these cases difficult to try and to obtain convictions. Many fraud prosecutions fail because the egregious length of the investigation and trial process jeopardises the mental health of some defendants, preventing them from being tried at all. The mass of documentary evidence adduced can cloud the key issue of dishonesty. Excessive splitting up and “pruning” of the case with a view to making the trial shorter may obscure the essential elements of the case. Effective management of the trial process is sometimes lacking. Presentation of complex facts and egregious amounts of documentation to a lay jury can contribute to the inordinate length of the case and the proposition is made that an alternative tribunal, without a lay jury, may eliminate many of the factors which contribute to the failure of major fraud trials.Practical implicationsThe conclusion is drawn that tribunals sitting without juries would have the effect of shortening the trial without lessening public confidence in the criminal justice system in this very limited class of case.Originality/valueThe paper draws together several key factors found in the author's experience as Director the Serious Fraud Office and as Chairman of the Fraud Advisory Panel which distinguish fraud prosecutions from any other types of criminal case and provides leads for improving future prosecution and trial technique.
Organised crime menaces legitimate business and might lead to corruption
Authors: Nicati Claude , Daams Claire A. 
Published: July 2006

PurposeIt is not enough that international organisations take initiatives in the fight against organised crime. The nation states also have to adapt their domestic legal systems. The purpose of this paper is to focus on the implications for Switzerland in this context.Design/methodology/approachThe paper describes some of the Swiss preventive measures against corruption and briefly explains the Swiss legal provisions dealing with corruption. The prosecution and sanctioning of corruption is then outlined. The conclusion summarises the main facts and features.FindingsThe attitude towards corruption has significantly changed over the last decade. Switzerland has adapted its legal provisions to this “new” attitude and chosen an approach that serves to protect itself against becoming a launderette for the proceeds of bribery. The main changes include efforts to raise awareness about corruption, the revision of the existing and introduction of new legal provisions applicable to corruption, the attribution of exclusive prosecutorial powers (under the conditions of article 340bis para 1 of the Criminal Code) to the confederation and finally the introduction of specific sanctions.Originality/valueThe paper describes actions against organised crime from a Swiss perspective.
The business of corruption, or is the business of business corruption?
Authors: Rossbacher Henry H. 
Published: July 2006

PurposeThe purpose of this paper is to examine legal issues in the USA in relation to corruption involving American corporations.Design/methodology/approachThe paper reviews of actions by the US government, lobbyists and courts with commentary by the author.FindingsAll is not well.Originality/valueThe paper presents a personal review of US legal issues relating to corruption.
The effects of organized crime on legitimate businesses
Authors: Marine Frank J. 
Published: July 2006

PurposeThe purpose of this paper is to examine the development and nature of organized crime in the USA over the past 50 years, emphasizing organized crime's corruption and victimization of legitimate businesses and describing law enforcement's efforts to combat organized crime through specific case studies.Design/methodology/approachFirst, the paper analyzes the control over and corruption of legitimate businesses in the USA by the La Cosa Nostra (“LCN,” or the American Mafia), including the following industries: Las Vegas gaming; moving and storage; garment; waste – hauling; and, construction, and the following unions: the International Brotherhood of Teamsters; Laborers International Union of North America; and, the International Longshoreman's Association. The paper also describes law enforcement's successful efforts to combat such corruption through the use of criminal and civil racketeering laws and specific prosecutions. The paper then discusses the emergence in the mid‐1980s of non‐traditional organized crime groups in the USA, including various Asian ethnic groups and large‐scale human trafficking organizations that impact Europe and Asia as well as the USA.FindingsThe non‐traditional criminal groups not only prey on the legitimate businesses in ethnic Asian communities in the USA, but they also engage in complex crimes, alien smuggling, drug trafficking, credit‐card frauds, money laundering, and other financial crimes. There has emerged a new era for organized crime that began in the 1990s with the fall of the former Soviet Union and the emergence of transnational organized crime groups emanating from the nations comprising the former Soviet Bloc. These organized crime groups engage in a wide variety of economic crimes including extortion, fraud, illicit appropriation of natural resources, and public corruption. Such extensive corruption threatens the stability of some of these emerging nations.Originality/valueThis paper will be valuable to law enforcement offices and policy makers to assist them to understand the scope and nature of organized crime's adverse effects upon businesses and economic interests and to develop tools to combat such criminal activities.
The cigarette black market in Germany and in the United Kingdom
Authors: von Lampe Klaus 
Published: July 2006

PurposeThe research aims at providing a comprehensive assessment of the cigarette black market in Germany and the UK within the framework of the study of organized crime.Design/methodology/approachThe particular approach upon which this paper is based is a systematic, cross‐national review of open sources, including media reports and government documents. The information gleaned from these sources is transferred into a classificatory scheme derived from the analysis of organized crime.FindingsWhile similarities exist regarding the inner workings of the cigarette black market, interesting variations between the two countries emerge, including an asynchronicity of the developmental process and differences in modus operandi. In addition to cross‐national differences, striking regional variations in the prevalence and character of black market activity exist within each country. This leads to the conclusion that a multitude of factors have to be considered to account for the overall dynamics and specific manifestations of the cigarette black market.Research limitations/implicationsIn future research the database needs to be broadened beyond open sources.Practical implicationsPolicy decisions with the aim to curb the cigarette black market have to take the apparent complexity of causal and intervening factors into account. The level of taxation is just one of several factors.Originality/valueNo comparative analysis of the cigarette black markets in Germany and the UK has previously been available.
A wolf in sheep's clothing
Authors: Bradshaw David 
Published: July 2006

PurposeThe purpose of this paper is to explore the element of trust that is common to and underpins both the successful legitimate business venture and the successful fraud.Design/methodology/approachThe paper questions whether the cumulative effect of financial crime in our society may ultimately be more serious than in terms of damaging personal and business relationships than the actual losses incurred.FindingsLaw enforcement agencies must not lose sight of the significant impact that financial crime is having on our everyday activities. There is a pressing need to ensure that within our communities trust remains a power for good within business relationships.Practical implicationsThe paper was aimed at raising the awareness of the intangible impact of white collar crime on our society and the need to avoid becoming complacent about such offending at a time when the law enforcement focus in many countries tends to be on violent offending in our community.Originality/valueThe paper will be of interest to those working in the field of economic crime or researching the topic.
Governance in the markets: Malaysian perspective
Authors: Simon Shim Datuk 
Published: July 2006

PurposeTo demonstrate that Malaysia has taken serious measures to improve corporate governance landscape.Design/methodology/approachEnforcement actions are used as a case study to show the effect of certain measures undertaken by the regulatory authorities to combat economic crime.FindingsThere was a drop in prosecutions and other enforcement actions following the introduction of compulsory directors trainings.Research limitations/implicationsRecommendations are made for a smart partnership between the government, regulators and the private sector to improve governance in the markets.Originality/valueCorporate law and securities law require a sound framework that would promote a safe competitive and orderly market for investors in Malaysia.