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Corruption in least developed countries and ESG (responsible) investment: Standard Chartered Bank in Nepal Journal of Financial Regulation and Compliance Pub Date : 2024-02-29 Tim Gocher, Wen Li Chan, Jayalakshmy Ramachandran, Angelina Seow Voon Yee
Purpose This study aims to explore the effects of responsible international investment in a least developed country (LDC) on ethics and corruption in the local industry. While investment growth in least developed countries (LDCs) is essential to meet the United Nations Sustainable Development Goals, international investment in LDCs poses challenges, including corruption. The authors explore perspectives
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Risk governance and regulatory adjustments in the public commercial banks of OECD Journal of Financial Regulation and Compliance Pub Date : 2024-02-26 Muddassar Malik
Purpose This study aims to explore the relationship between risk governance characteristics (chief risk officer [CRO], chief financial officer [CFO] and senior directors [SENIOR]) and regulatory adjustments (RAs) in Organization for Economic Cooperation and Development public commercial banks. Design/methodology/approach Using principal component analysis (PCA) and regression models, the research analyzes
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Free banking theory: literature review and relevance to the regulation of cryptocurrencies debate Journal of Financial Regulation and Compliance Pub Date : 2024-02-21 Simon D. Norton
Purpose Free banking theory, as developed in Adam Smith’s 1776 treatise, “The Wealth of Nations” is a useful tool in determining the extent to which the “invisible hand of the market” should prevail in regulatory policy. The purpose of this study is to provide a timely review of the literature, evaluating the theory’s relevance to regulation of financial technology generally and cryptocurrencies (cryptos)
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Do cryptocurrency investors in the UK need more protection? Journal of Financial Regulation and Compliance Pub Date : 2024-01-22 Yanqing Wang
Purpose The existing literature offers various perspectives on integrating cryptocurrencies into investment portfolios; yet, there is a gap in understanding the behaviours, attitudes and cross-investment links of individual investors. This study, grounded in the modern portfolio theory and the random walk theory, aims to add empirical insights that are specific to the UK context. It explores four hypotheses
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Shadow banking and non-performing loans: international evidence Journal of Financial Regulation and Compliance Pub Date : 2024-01-04 Mugabil Isayev, Omar Farooq
Purpose This paper aims to document the impact of shadow banking on non-performing loans (NPLs) of publicly listed banks in an international setting. Design/methodology/approach This paper uses the data from 27 countries and various estimation strategies to test the arguments presented in this paper. The sample covers the period between 2002 and 2020. Findings The empirical results suggest that banks
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Factors and determinants affecting banking sector stability: empirical evidence from conventional and Islamic banks listed on the Palestine stock exchange Journal of Financial Regulation and Compliance Pub Date : 2023-12-25 Nemer Badwan, Besan Saleh, Montaser Hamdan
Purpose This paper aims to investigate the determinants that contribute to the financial stability and banking sector of Palestinian banks listed on the Palestine Stock Exchange (PEX) by using yearly data for the years 2012–2022. Design/methodology/approach Pooled ordinary least squares (OLS) and two-stage least squares (2SLS) were used to identify the variables and factors affecting the financial
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Ethical governance and the board’s moderating role in Zakat avoidance effects on firm value in muslim nations Journal of Financial Regulation and Compliance Pub Date : 2023-12-19 Ines Kateb, Khaoula Ftouhi
Purpose This paper aims to examine the impact of Zakat avoidance on firm value and investigates how board characteristics moderate this relationship within the context of Saudi Arabia, a Muslim nation. Design/methodology/approach Using panel data from 2009 to 2020, encompassing 78 nonfinancial firms listed on the Saudi Stock Exchange, this study constructs an enhanced measure of Zakat avoidance that
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Dark side of decentralised finance: a call for enhanced AML regulation based on use cases of illicit activities Journal of Financial Regulation and Compliance Pub Date : 2023-12-11 Vladlena Benson, Umut Turksen, Bogdan Adamyk
Purpose This paper aims to focus on the need for an enhanced anti-money laundering (AML) regulation for decentralised finance (DeFi) to protect the integrity of global financial systems against illicit activities. Research highlights the requirement for a robust regulatory strategy for the fast-paced DeFi evolvement. Design/methodology/approach This study used doctrinal legal research by analysing
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The role of inside debt in banks’ M&A choices: wealth expropriation or conflict resolution? Journal of Financial Regulation and Compliance Pub Date : 2023-11-27 Ziyun Yang, Lanyi Yan Zhang, Claire J. Yan
Purpose This study investigates the impact of bank CEOs’ inside debt on shareholder benefits in the context of bank mergers and acquisitions (M&A) before the 2008–2009 financial crisis. Design/methodology/approach Employing an event-study methodology, this analysis delves into market reactions to bank M&A announcements during 2006–2007, encompassing 105 M&As by 79 public commercial banks. This era
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Economic policy uncertainty and Indian banking stability: the mediating role of regulation and supervision Journal of Financial Regulation and Compliance Pub Date : 2023-10-19 Aamir Aijaz Syed
Purpose The purpose of this study is to explore how the unprecedented rise in the economic policy uncertainty influence Indian banking sector stability. The unprecedented rise in the economic policy uncertainty during the recent pandemic has garnered the attention of policymakers to investigate its consequences on different sectors of the economy. Design/methodology/approach In this quest, the present
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Methods of regulatory impact assessment: critical analysis and alternative method Journal of Financial Regulation and Compliance Pub Date : 2023-09-05 Driss El Kadiri Boutchich
Purpose This study aims to carry out a critical analysis of the methods used to deal with the regulatory impact assessment while proposing an alternative method to overcome some of the drawbacks of the aforementioned methods. Design/methodology/approach To achieve the objective of this work, the methods currently used in regulatory impact analysis are presented by highlighting their scope and the problems
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Bank crisis resolution in India Journal of Financial Regulation and Compliance Pub Date : 2023-08-28 Soumik Bhusan, Ajit Dayanandan, Naresh Gopal
Purpose The academic literature has examined why bank runs happen based on the work of 2022 Nobel Prize-winning economists Diamond and Dybvig. They have found the source of banking/financial crisis in terms of mismatch between liabilities (deposits being short term and savers wanting to short-term access to their money) and assets (long term and illiquid). The Lakshmi Vilas Bank (LVB) crisis intensified
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Societal trust and bank opacity Journal of Financial Regulation and Compliance Pub Date : 2023-08-28 George Kladakis, Sotirios K. Bellos, Alexandros Skouralis
Purpose This paper aims to examine the relationship between societal trust and bank asset opacity using an international sample of banks. Design/methodology/approach The authors use an international data set of banks and panel regressions. For robustness purposes, the authors use multiple measures of both societal trust and bank opacity as well as two-stage least squares regressions to address endogeneity
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Evaluating the perceived usefulness and fairness of forensic accounting and investigation standards Journal of Financial Regulation and Compliance Pub Date : 2023-08-25 Abinash Mandal, Amilan S.
Purpose This study aims to investigate the perceived willingness to adopt and use Forensic Accounting and Investigation Standards (FAIS) in Forensic Accounting and Investigation (FAI) assignments. The study also analyses the usefulness of FAIS in achieving the principle of natural justice (PNJ) concerning fairness. Design/methodology/approach The respondents comprised 118 accounting professionals whose
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Regulatory non-compliances in microfinance operations: a survey of Indian microfinance institutions Journal of Financial Regulation and Compliance Pub Date : 2023-08-07 Sunil Sangwan, Narayan Chandra Nayak, Vikas Sangwan
Purpose Regulation is critical for sustainable microfinance sector growth. Under this premise, the study aims to examine the different regulatory noncompliance (RNC) practices prevalent in the operations of microfinance institutions (MFIs) at the ground level. Design/methodology/approach Both the quantitative and qualitative (observations, interviews and focus group discussions) techniques are used
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The impact of tighter banking regulation on bank loan loss provisioning: empirical evidence from a quasi-natural experiment Journal of Financial Regulation and Compliance Pub Date : 2023-07-20 Hiep Ngoc Luu, Phuong-Tra Vu, Dung Thuy Thi Nguyen, Thinh Gia Hoang
Purpose The paper aims to examine the impact of tighter banking regulation on banks’ loan loss provisioning in an emerging market context. Design/methodology/approach The authors exploit the adoption of the Basel II Accord in Vietnam as a quasi-natural experiment and use Difference-to-Difference (DiD) method to examine the impact of tighter banking regulation on Vietnamese banks’ provisioning during
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The impacts of corporate governance on firms’ performance: from theories and approaches to empirical findings Journal of Financial Regulation and Compliance Pub Date : 2023-07-20 Hoang Bui, Zoltán Krajcsák
Purpose This study aims to investigate the relationship between corporate governance (CG) and financial performance in the case of publicly listed companies in Vietnam for the period from 2019 to 2021. The topic is crucial in understanding how effective governance practices can influence the financial outcomes of companies. The study sheds light on the link between CG practice and firm financial performance
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The impact of regulatory requirements on German financial institutions’ outsourcing arrangements Journal of Financial Regulation and Compliance Pub Date : 2023-07-07 Riffat Hasan, Oliver Kruse
Purpose The purpose of this paper is to analyse and investigate how intensified regulatory requirements related to outsourcing have influenced and changed the outsourcing activities of German financial institutions. Design/methodology/approach The study involved interviewing 11 outsourcing experts in the German financial sector, including four of the five largest banks in Germany. In coding and analysing
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Capital buffers, business models and the probability of bank distress: a dynamic panel investigation Journal of Financial Regulation and Compliance Pub Date : 2023-06-22 Zied Saadaoui, Salma Mokdadi
Purpose This paper aims to improve the debate linking the business models of banks to their riskiness by checking if diversification exerts different impacts on the probability of bank distress depending on the level of capital buffers. Design/methodology/approach The paper focuses on a sample of listed bank holding companies observed between 2007:Q3 and 2022:Q4. The authors use three subindexes of
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Solvency II post-Brexit: equivalence discussion in light of the UK solvency II review and the financial services and markets bill Journal of Financial Regulation and Compliance Pub Date : 2023-06-21 Antonia Müller, Svend Reuse
Purpose Following the United Kingdom's (UK) withdrawal from the European Union (EU), there is uncertainty in the financial services industry on equivalence of regulatory regimes. This also affects the insurance industry. As of now, it is not clear if the UK’s supervisory regime (“Solvency UK”) will be classified as equivalent to the European Solvency II supervisory regime. After no equivalence decision
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Insights into UK investment firms’ efforts to comply with MiFID II RTS 6 that governs the conduct of algorithmic trading Journal of Financial Regulation and Compliance Pub Date : 2023-06-06 Alexander Conrad Culley
Purpose The purpose of this paper is to examine the effectiveness of UK investment firms’ implementation of the requirements in Commission Delegated Regulation 2017/589 (more commonly known as “Regulatory Technical Standard 6” or “RTS 6”) that govern the conduct of algorithmic trading activities. Design/methodology/approach A qualitative examination of 19 semi-structured interviews with practitioners
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Bank risk and returns: did prompt corrective action make a difference? Journal of Financial Regulation and Compliance Pub Date : 2023-05-19 Saibal Ghosh
Purpose The purpose of this paper is to assess the effects of prompt corrective action on bank risk and returns in an empirical framework. Design/methodology/approach The paper uses a difference-in-difference specification to analyse whether and how PCA affects bank risk and returns. As part of robustness, the analysis also uses a fixed effects specification with Driscoll–Kraay standard errors to account
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COVID-19 and financial institution stability: stress testing the Eastern Caribbean currency union Journal of Financial Regulation and Compliance Pub Date : 2023-05-05 Dalano DaSouza, Kareem Martin, Peter Abraham Jr, Godson Davis
Purpose This paper aims to simulate the potential impact of increasing non-performing loans (NPLs) on capital adequacy, interest income and firm value of banks and credit unions in the Eastern Caribbean Currency Union (ECCU) using stress tests. Design/methodology/approach A financial stress testing model was deployed at the levels of individual financial intermediary (FI), sectoral loan portfolio composition
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Calibration issues under the EU capital regime for investment firms Journal of Financial Regulation and Compliance Pub Date : 2023-05-02 Mete Feridun
Purpose The EU prudential regime for investment firms comprising the Directive (EU) 2019/2034 (IFD) and Regulation (EU) 2019/2033 (IFR) introduces a fit-for-purpose capital framework for investment firms. The capital impact on the practice of investment management can be material depending on firms’ specific business models and risk profiles, which may require them to take strategic decisions with
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Can regulations prevent financial crises? Uses of the past in the evolution of regulatory reforms in Sweden Journal of Financial Regulation and Compliance Pub Date : 2023-04-05 Asa Malmstrom Rognes, Mats Larsson
Purpose The purpose of this study is to examine whether regulations can prevent financial crises based on the case of Sweden in the 20th century. The evolution of banking regulation relies heavily on learning across borders as well as responding to recent and remembered crises. Sweden went from being an open economy with a highly protected national banking system with several banking crises under the
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Investment strategies of sovereign wealth funds: the potential and challenges of empirical research Journal of Financial Regulation and Compliance Pub Date : 2023-03-08 Abdulaziz K. Alosaimi, Mishari M. Alfraih
Purpose The purpose of this paper is to explore and evaluate the main segments of existing empirical literature related to Sovereign Wealth Funds (SWFs) and provide a thorough investigation of their research questions, theoretical frameworks, data selections and research methodologies. Design/methodology/approach The literature on SWFs has been split into three main streams: qualitative studies with
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Impact of financial inclusion on economic growth in secular and religious countries Journal of Financial Regulation and Compliance Pub Date : 2023-02-08 Peterson K. Ozili, Sok Heng Lay, Aamir Aijaz Syed
Purpose Empirical research on the relationship between financial inclusion and economic growth has neglected the influence of religion or secularism. This study aims to investigate the effect of financial inclusion on economic growth in religious and secular countries. Design/methodology/approach The financial inclusion indicators are the number of automated teller machines (ATMs)per 100,000 adults
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Assessing the financial and informational role of supervisory stress tests: EU-wide 2018 stress test vis-à-vis EU-wide 2021 stress test Journal of Financial Regulation and Compliance Pub Date : 2023-02-03 Dimitrios Karakostas, Ioannis Tsakalos, Athanasios Fassas
Purpose The supervisory stress test evaluates the capital adequacy and profit-generation capacity of systemic banking institutions under baseline and adverse macroeconomic scenarios. This study aims to assess the financial and informational role of European stress tests and substantiate the impact of their disclosures by examining the EU-wide 2018 stress test vis-à-vis the EU-wide 2021 stress test
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The relation between auditing and accounting timeliness in Swedish private firms Journal of Financial Regulation and Compliance Pub Date : 2023-01-27 Fredrik Hartwig, Emil Hansson, Linn Nielsen, Patrik Sörqvist
Purpose The purpose of this study is to examine the relationship between auditing/non-auditing and accounting timeliness among Swedish private firms. Design/methodology/approach This paper uses regression analysis to test the relationship between auditing and two measurements of timeliness; lead time and late filing. The sample consists of Swedish private firms. Findings This paper finds that audited
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Banking sector reforms in Nigeria: an empirical appraisal Journal of Financial Regulation and Compliance Pub Date : 2023-01-26 Ibrahim Alley, Halima Hassan, Ahmad Wali, Fauziyah Suleiman
Purpose This paper provides evidence that the banking sector reforms of 2004 and 2009 enhanced prudential performance of the banking industry and financial system stability in Nigeria. Design/methodology/approach This study uses regression analysis with regime shift to confirm results from tests of two means and variances model to examine the effectiveness of banking sector reforms in Nigeria. Findings
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Bank-specific factors and credit risk: evidence from Italian banks in different local markets Journal of Financial Regulation and Compliance Pub Date : 2022-10-13 Cristian Barra, Nazzareno Ruggiero
Purpose Using bank-level data over the 1994–2015 period, the authors aim to investigate the role of bank-specific factors on credit risk in Italy by considering two different groups of banks, namely, cooperative and non-cooperative (commercial and popular), in different local markets. Design/methodology/approach Relying on highly territorially disaggregated data at labour market areas’ level, the authors
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Investigating the disclosure compliance of Basel III in emerging markets: a comparative study between UAE and Indian banks Journal of Financial Regulation and Compliance Pub Date : 2022-09-23 Suja Sarah Thomas, Manish Bansal, Ibrahim Elsiddig Ahmed
Purpose This study aims at investigating banks’ compliance with the disclosure requirements of Basel III in two emerging market economies, namely, the United Arab Emirates (UAE) and India. This study also examines the impact of economic factors on the extent of disclosures. Design/methodology/approach The authors compare the Basel disclosure practices between UAE and Indian listed banks and have used
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Risk management practices and credit risk of the significantly supervised European banks Journal of Financial Regulation and Compliance Pub Date : 2022-09-19 Anum Qureshi, Eric Lamarque
Purpose This paper aims to examine the influence of risk management (RM) practices on the credit risk of significantly supervised European banks. Design/methodology/approach To avoid regulatory and reporting discrepancies, this paper samples banks that come under the direct supervision of the European Central Bank. Significantly supervised European Banks are selected for the five years from 2013 to
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Global financial crisis, international capital requirement and bank financial stability: an international evidence Journal of Financial Regulation and Compliance Pub Date : 2022-09-14 Baah Aye Kusi, Joseph Ato Forson, Eunice Adu-Darko, Elikplimi Agbloyor
Purpose Financial crises (FC) remain a global threat to the financial stability of financial institutions and international bank regulatory capital requirement (IBRCR) by the Committee on Banking Supervision provides mechanism for curbing the adverse effect of FC on financial stability. Hence, the purpose of this study is to provide, evidence on how IBRCR tones down the adverse FC effects on bank financial
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Consumer adoption intention toward FinTech services in a bank-based financial system in Vietnam Journal of Financial Regulation and Compliance Pub Date : 2022-08-24 Hang Thi Ngo, Le Thi Hoai Nguyen
Purpose This study aims to identify the key factors driving consumer adoption attention toward FinTech services in a bank-based financial system to lay a firm ground for further policy recommendations to promote the dual development of FinTech and the banking industry in Vietnam as well as other emerging economies similar banking system. Design/methodology/approach A technology acceptance model with
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Does the deployment of algorithms combined with direct electronic access increase conduct risk? Evidence from the LME Journal of Financial Regulation and Compliance Pub Date : 2022-08-08 Alexander Conrad Culley
Purpose The purpose of this paper is to examine the effectiveness of two regulatory initiatives in developing awareness of conduct risk associated with algorithmic and direct-electronic access (DEA) trading at broker-dealers: the UK Financial Conduct Authority’s algorithmic trading compliance in the wholesale markets and Commission Delegated Regulation 2017/589 (CDR 589) to the second Markets in Financial
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Institutional quality, macroeconomic uncertainty and efficiency of financial institutions in Sub-Saharan Africa Journal of Financial Regulation and Compliance Pub Date : 2022-08-02 Rexford Abaidoo, Elvis Kwame Agyapong
Purpose This paper evaluates how institutions of governance and macroeconomic uncertainty influence efficiency of financial institutions in the subregion of Sub-Saharan Africa (SSA). Data for the empirical inquiry were compiled from relevant sources for 33 countries in the subregion from 2002 to 2019. Empirical estimates verifying hypothesized relationships were carried out using the continuous updating
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Jurisdictional arbitrage: combatting an inevitable by-product of cryptoasset regulation Journal of Financial Regulation and Compliance Pub Date : 2022-07-13 Sideris Draganidis
Purpose This paper aims to provide an overview of different issues related to jurisdictional arbitrage found in general regulatory arbitrage literature and their projection to the specific area of cryptoasset regulation. Design/methodology/approach By distinguishing any parallel, analogous and neighbouring concepts, this paper attempts to clarify the notion of jurisdictional arbitrage. By discussing
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The regulation of RegTech and SupTech in finance: ensuring consistency in principle and in practice Journal of Financial Regulation and Compliance Pub Date : 2022-07-08 Jonathan McCarthy
Purpose The paper’s aim is to consider how best to formulate sturdy regulatory frameworks for RegTech and SupTech. The paper appraises how key features of EU and UK regulatory and policy initiatives can contribute to a functional framework for RegTech and SupTech. Design/methodology/approach The paper refers to the most comprehensive empirical findings within the EU and the UK on RegTech and SupTech
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Regulations and banking crisis: lessons from the African context Journal of Financial Regulation and Compliance Pub Date : 2022-06-28 Daniel Ofori-Sasu, Elikplimi Komla Agbloyor, Saint Kuttu, Joshua Yindenaba Abor
Purpose This study aims to investigate the coordinated impact of regulations on the predicted probability of a banking crisis in Africa. Design/methodology/approach The study used the dynamic panel instrumental variable probit regression model of 52 African economies over the period 2006 to 2018. Findings The authors observe that banking crisis is persistent for few years but dissipates in the long
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Bank regulation and risk-taking in sub-Sahara Africa Journal of Financial Regulation and Compliance Pub Date : 2022-06-20 Sopani Gondwe, Tendai Gwatidzo, Nyasha Mahonye
Purpose In a bid to enhance the stability of banks, supervisory authorities in sub-Sahara Africa (SSA) have also adopted international bank regulatory standards based on the Basel core principles. This paper aims to investigate the effectiveness of these regulations in mitigating Bank risk (instability) in SSA. The focus of empirical analysis is on examining the implications of four regulations (capital
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Capital regulation, liquidity risk, efficiency and banks performance in emerging economies Journal of Financial Regulation and Compliance Pub Date : 2022-06-14 Nicholas Addai Boamah, Emmanuel Opoku, Augustine Boakye-Dankwa
Purpose This study aims to examine the descriptive capabilities of efficiency, liquidity risk and capital risk for the cross-sectional and time-series variations in banks’ performance across emerging economies (EEs). It also examines the impact of the 2008 global financial crisis (GFC) on the effects of capital, liquidity and efficiency on banks’ performance. Design/methodology/approach The paper adopts
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A systematic review on forensic accounting and its contribution towards fraud detection and prevention Journal of Financial Regulation and Compliance Pub Date : 2022-06-07 Baljinder Kaur, Kiran Sood, Simon Grima
Purpose This paper aims to determine how forensic accounting contributes to fraud detection and prevention and answer the following research questions: What are the standard techniques for fraud detection and prevention; and What are the significant challenges that hinder the application of forensic accounting in fraud prevention and detection? Design/methodology/approach The authors use the Preferred
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Influence of virtual currency development and investor attention on financial stocks’ value: evidence from selected Asian equity markets Journal of Financial Regulation and Compliance Pub Date : 2022-06-02 Ming Torng Ang, Yee Peng Chow
Purpose The purpose of this study is to examine the influence of virtual currency (VC) development on financial stocks’ value in selected Asian equity markets and the moderating role of investor attention on this relationship. Design/methodology/approach The pooled ordinary least squares regression is used on a sample of 138 listed financial firms from four emerging Asian countries for the period 2016–2020
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European banks’ business models as a driver of strategic planning: one size fits all Journal of Financial Regulation and Compliance Pub Date : 2022-05-23 Egidio Palmieri, Enrico Fioravante Geretto, Maurizio Polato
Purpose This paper aims to verify the presence of a management model that confirms or not the one size fits all hypothesis expressed in terms of risk-return. This study will test the existence of stickiness phenomena and discuss the relevance of business model analysis integration with the risk assessment process. Design/methodology/approach The sample consists of 60 credit institutions operating in
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Continuous auditing in public sector and central banks: a framework to tackle implementation challenges Journal of Financial Regulation and Compliance Pub Date : 2022-05-19 Salvatore Polizzi, Enzo Scannella
Purpose This paper aims to analyse the implementation challenges faced by internal audit departments of public sector organisations and central banks when implementing continuous auditing (CA) systems. CA aims to monitor internal control systems and risk levels on a continuous basis to support the audit process. This study identifies the implementation challenges of CA systems and proposes adequate
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Interest on reserves, bank runs and investment decisions Journal of Financial Regulation and Compliance Pub Date : 2022-05-10 Zhan Wang
Purpose This paper aims to study the effects of interest on reserves (IOR) on banks’ behavior in a theoretical framework. Design/methodology/approach This paper introduces IOR into both Cooper and Ross (1998) and Cooper and Ross (2002) and conducts quantitative analysis. It thoroughly examines the effects of IOR on banks’ resource allocation decisions under different assumptions. Findings In the model
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Anti-money laundering regulations and financial inclusion: empirical evidence across the globe Journal of Financial Regulation and Compliance Pub Date : 2022-05-09 Isaac Ofoeda
Purpose This study aims to examine the impact of anti-money laundering (AML) regulations on financial inclusion using a comprehensive measure of AML regulations developed by the Basel Institute on Governance. Again, this study investigates the existence of threshold effects in the AML regulations–financial inclusion nexus. Design/methodology/approach This study uses panel data across 212 economies
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Impact of Leveraged Lending Guidance: evidence from nonbank participation in syndicated loans Journal of Financial Regulation and Compliance Pub Date : 2022-04-20 Natalya Schenck, Lan Shi
Purpose The purpose of this study is to examine the impact of supervisory Leveraged Lending Guidance (LLG) (2013–2014) on risk and structure of syndicated loans arranged by the largest US banks with participation of nonbank lenders. Design/methodology/approach This study uses supervisory shared national credit loan-level data from 2010 to 2015 and DealScan loan origination data and use linear regressions
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Financial development and entrepreneurship: insights from Africa Journal of Financial Regulation and Compliance Pub Date : 2022-04-18 Folorunsho M. Ajide, Titus Ayobami Ojeyinka
Purpose One of the main obstacles to the flourishment of African entrepreneurship is financial constraint. Existing studies on the nexus between entrepreneurship and financial development are inconclusive, while the position of African economies remains unknown. The purpose of this paper is to empirically study the impact of financial development on entrepreneurship in Africa. Design/methodology/approach
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Implementation of MiFID II investor protection provisions by private banks within the European Union Journal of Financial Regulation and Compliance Pub Date : 2022-04-11 Tom Loonen, Ronald Janssen
Purpose With the introduction of the Markets in Financial Instruments Directive (MiFID), financial institutions are faced with many investor protection provisions; this has a major impact on the day-to-day operations of private banks, which provide investment services to predominately retail or non-professional investors. The purpose of this paper is to determine how MiFID provisions regarding investor
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Whistleblowing: procedural and dogmatic problems in the implementation of directive (EU) 2019/1937 Journal of Financial Regulation and Compliance Pub Date : 2022-04-11 Fabian Maximilian Teichmann, Chiara Wittmann
Purpose This paper aims to enlighten the shortcomings of the EU Whistleblowing Directive 2019/1973, which could interfere negatively with its successful national implementation. In focus is the tension between companies potentially attempting to hide misconduct and disgruntled employees taking advantage of generous protection under the directive. Design/methodology/approach With an extensive literary
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Automobile insurance fraud detection in the age of big data – a systematic and comprehensive literature review Journal of Financial Regulation and Compliance Pub Date : 2022-04-08 Botond Benedek, Cristina Ciumas, Bálint Zsolt Nagy
Purpose The purpose of this paper is to survey the automobile insurance fraud detection literature in the past 31 years (1990–2021) and present a research agenda that addresses the challenges and opportunities artificial intelligence and machine learning bring to car insurance fraud detection. Design/methodology/approach Content analysis methodology is used to analyze 46 peer-reviewed academic papers
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UK Government controls and loan-to-deposit ratio Journal of Financial Regulation and Compliance Pub Date : 2022-03-18 Kumbirai Mabwe, Kalsoom Jaffar
Purpose This paper aims to present an analysis of the UK bank loans and deposits in tandem, linking the loan-to-deposit (LTD) ratio to macroprudential policy and funding restrictions. LTD ratio is used by micro and macroprudential authorities to address both structural (long-term) and cyclical (short-term) liquidity risks. It is an outcome of several political and economic factors and should be evaluated
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Determinants of CoCo issuance: liquidity and risk incentives Journal of Financial Regulation and Compliance Pub Date : 2022-03-17 Bashar Abdallah, Francisco Rodríguez Fernandez
Purpose This paper aims to study the impact of (regulatory and nonregulatory) liquidity on contingent convertible (CoCo) issuance and the relationship between CoCos and asset quality. Design/methodology/approach The analysis of this study comprises two stages. In the first stage, the authors used a logit model to test whether banks with riskier assets as well as lower solvency and (regulatory and nonregulatory)
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Regulatory examinations and life insurance development Journal of Financial Regulation and Compliance Pub Date : 2022-03-16 Bojan Srbinoski, Klime Poposki, Patricia Born, Karel Van Hulle
Purpose Solvency and market conduct regulations play a crucial role in supporting life insurance development by boosting consumer confidence and securing a stable environment for insurers to write business. The regulation encapsulates not only the legal framework but also its enforcement. This study aims to focus on the latter and investigate the impact of solvency and market conduct examinations on
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Does board-level employee representation impact firms’ value? Evidence from the European countries Journal of Financial Regulation and Compliance Pub Date : 2022-03-15 Sónia Silva, Armando Silva, Ricardo Bahia Machado
Purpose Using, for the first time, a sample of European listed firms from 30 countries with different legal regimes of board-level employee representation (BLER), the purpose of this paper is to examine the impact of BLER on firms’ value of European public companies, where employee representation is voluntary or imposed by law depending on the country of origin. Design/methodology/approach Using a
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Financial inclusion for women empowerment in South Asian countries Journal of Financial Regulation and Compliance Pub Date : 2022-03-04 Faisal Aziz, Salman Masood Sheikh, Ijaz Hussain Shah
Purpose This paper aims to address the issues of Asian countries toward why females are discouraged and more likely to be removed from the formal financial system than males. Further, whether there is any connection between religion and women’s financial inclusion is also addressed. Design/methodology/approach This paper explores gender disparities in the use of structured financial services through
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A European distributed ledger technology pilot regime for market infrastructures: finding a balance between innovation, investor protection and financial stability Journal of Financial Regulation and Compliance Pub Date : 2022-02-23 Randy Priem
Purpose This study aims to discuss the European Commission’s proposal for a pilot regime for market infrastructures to experiment with the distributed ledger technology (DLT). In this respect, the study comments on the purpose, scope, requirements and attention points for market operators, investment firms and central securities depositories (CSDs) that are considering using this technology. Desig
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Does risk governance mediate the impact of governance and risk management on banks’ performance? Evidence from a selected sample of Islamic banks Journal of Financial Regulation and Compliance Pub Date : 2022-02-16 Safa Jallali, Faten Zoghlami
Purpose Relying on the agency theory and the financial intermediation theory, the purpose of this paper is to examine to what extent risk governance would improve corporate governance and risk management effectiveness. The paper especially investigates the mediating role that would have the risk governance mechanisms in explaining both of the following relationships: the corporate governance–the banks’