Structural changes,competition and bank stability in Malaysia’s dual banking system

This paper assesses Malaysia’s competition landscape and its risk implications subsequent to conventional banking consolidation and Islamic banking penetration in the aftermath of the 1997/1998 Asian financial crisis. Employing a panel sample of conventional and Islamic commercial banks, it arrives at the following conclusions. First, the consolidation exercise, which has led to a significant reduction in the number of domestic commercial banks, has not stifled banking competition. Second, the paper provides empirical support for the competition-stability relationship, particularly for the conventional banking sector. Islamic banking sector risk appears to be neutral to market competition or market power, although there is limited evidence that it increases with overall market concentration. Finally, the analysis uncovers the risk-increasing effect of the Islamic banking market structure on the conventional banking sector. By contrast, conventional banking market concentration tends to reduce the credit risk of Islamic banks.     

Hat die Einführung der Abgeltungsteuer Aktienkurse beeinflusst?

This paper discusses findings of a current research project whose results indicate that the implementation of the German flat withholding tax on capital gains at the turn of the year 2008–09 led to a temporary but significant increase in trading volumes and share prices on the German stock market. As this capital gains tax reform had already been announced in 2007, corresponding market reactions imply a delayed dissemination of tax information. Hence, our results raise some doubt regarding the information-processing capacity of stock markets. This holds true especially in the following circumstances: 1) extensive trading activities of individual investors with limited information access and attention; 2) a strong focus by a large group of individual investors to a limited number of trading days (herd behaviour); and 3) limited liquidity in the market (e.g. stocks with a small market capitalisation).     

Enterprise ownership and control in China: Governance with a Chinese twist

Inefficient state-owned enterprises in China were compelled to restructure to remain competitive, which resulted in phenomenal economic growth. While economically successful, China did not initially have any indigenous laws to regulate companies or control this growth, so Chinese lawmakers had to transplant corporate laws from developed Western countries. However, this transplantation process did not occur without problems, and certain domestic attributes had to be supplemented in corporate legislation to correspond with Chinese socialistic objectives and cultural values. This article analyzes the key attributes of Chinese corporate governance and regulations concerning shareholders’ rights and, in the process, highlights provisions that are peculiar and characterized as uniquely Chinese, ultimately raising more questions than answers for shareholders.     

Wages Pressures

Wages are rising in China. In order to assess the scope of wage adjustments, the influence of minimum wage hikes and labour unions,and the magnitude of labour productivity improvements,we carried out surveys of clients of Standard Chartered Bank(China) over the past month.We spoke to Hong Kong manufacturers operating in the Pearl River Delta(PRD);Taiwan companies operating outside of Shanghai;and companies operating in Chongqing,in south western China.Our main findings are as follows:·Wages are up 9-15%t...     

Production Relocation: Choice Versus Satisfaction Factors: A Preliminary Study

ABSTRACT

This article examines the satisfaction level of production relocation of export oriented firms. We introduce a conceptual model, by incorporating the Expectancy Disconfirmation Paradigm (EDP) model and the Perception model, and use Hotelling T² statistics and paired t-test to measure management's satisfaction levels toward production at the relocated location. Most of the extant literatures focus on the choice decision of production relocation; this report, however, focuses on the manufacturer's satisfaction level toward the selected location. While location choice is an ex ante analysis, satisfaction analysis is an ex post analysis on production relocation. Findings of the study show that among the 20 location factors, political stability and sufficient industrial engineers are the best predictors of electronics manufacturers' satisfaction on production relocation. A firm may consider relocating the production again if dissatisfaction grows. This may explain, at least partly, the international movements of production relocation during the past decades.     

Selection attributes of wedding banquet venues: An exploratory study of Hong Kong prospective wedding couples

Despite the significant contribution of the wedding business to the hospitality industry, few studies of wedding banquet venues have been conducted. This study aimed to investigate the perception of Hong Kong prospective wedding couples of the importance of venue selection attributes. Among the 25 venue attributes identified, employee attitude was viewed by the 205 respondents as the most important, followed by cleanliness and food quality. Among the 11 extrinsic and intrinsic personal attributes, first impression was the most influential while an auspicious wedding date was the least. Marketing strategies are recommended to industry practitioners on the basis of the findings.     

Adoption of e-government in three Latin American countries: Argentina,Brazil and Mexico

This paper discusses the adoption of e-government in three Latin American countries: Argentina, Brazil and Mexico. The study first presents a conceptual framework to examine the development and services of e-government, which is applied to assess its adoption in these leading Latin American economies. Study findings can shed some light on each nation as a model for successful development as well as the implementation of e-government in a non-industrialized, developing nation. The analysis also seeks to fill a void in the study of e-government in less developed nations, most of which are trying to catch up with their developed counterparts in this crucial aspect of digital governmental development.     

Still on hold? A retrospective analysis of competitive implications of the Telecommunication Act of 1996, on its 10th year anniversary

This study provides a retrospective analysis exploring competition in the US telecommunication industry, a decade after passage of the highly deregulatory Telecommunications Act of 1996. Using history as a guide, it reviews recent merger activity facilitated by the Act, profiles the present state of concentration in cable and telephony and explores prospects for cross-media competition permitted by the Act.     

Where We Are with CNY Invoicing

It ain＇t easy replacing the US dollar. Some see the Chinese yuan （CNY） as the imminent replacement of the US dollar （USD） as the world＇s dominant reserve currency. However, those involved in the CNY＇s first forays overseas as a means of invoicing and payment for cross-border trade have known from the start that this process will take some time. Nine months into the CNY trade settlement pilot scheme, this seems like a good time to report on the progress and examine the outstanding challenges.     

The use of on-line summative assessment in an undergraduate financial accounting course

According to the Quality Assurance Agency [QAA (2006). Section 6: Assessment of students, Code of practice for the assurance of academic quality and standards in higher education. <http://www.qaa.ac.uk/>. Accessed 14.03.2007] “Assessment describes any processes that appraise an individual’s knowledge, understanding, abilities or skills” and is inextricably linked to a course or programme’s intended learning outcomes. Assessment also has a fundamental effect on students’ learning where it serves a variety of purposes including evaluation, feedback and motivation. Assessment also provides a performance indicator for both students and staff. Computer-aided assessment (CAA) offers an option for “sustainable assessment” and provides opportunities for creating innovative assessment practices that help engage students and increase their motivation for learning. This paper reports the findings of a qualitative study where a series of on-line summative assessments were introduced into a first-year financial accounting course. Feedback from students obtained from an evaluative survey and focus group interviews indicates that assessment played a significant role in the teaching/learning process. That is, students perceived a beneficial impact on learning, motivation, and engagement.