Financial Perspective Research Articles

Mapping accounting literature on climate finance: identifying research gaps and reflections on future research

PurposeThis study aims to investigate climate finance literature to understand whether and how research in this area is explored from an accounting perspective.Design/methodology/approachThis study conducts a meta-analysis and narrative review of climate finance.FindingsThe issue of climate finance has received increasing attention in recent years because of international negotiations on climate change. The volume of literature examining climate finance has grown, particularly from a finance perspective. The literature analysed is diverse, using unique methodological and theoretical differences and providing insights into the effectiveness of policies and the impact of climate finance on capital markets, economic growth and the green economy. However, in spite of growing concerns regarding the accounting and reporting issues in climate finance, little attention has been paid to this topic from an accounting, accountability, audit or corporate disclosure perspective.Originality/valueThis study contributes to climate finance research by integrating insights from a dispersed and emerging body of literature by conducting meta-analysis and narrative review. Meta-analysis enables us to map the development of this specific literature and how it has changed over the years, whereas a narrative review serves as a basis for identifying research gaps and developing avenues for future research in accounting, accountability, audit and corporate disclosure.

Legal Certainty In Financial Disputes Case Resolution Progressive Legal Perspective

Pure Legal Theory (The Pure Theory of Law) is a positive legal theory. However, it does not discuss positive Law that applies in a particular legal system; it only discusses general legal theory. Hans Kelsen's presentation of Pure Legal Theory aims to explain the nature of Law and methods of making Law rather than explaining what the Law should be or the best way for Law to be created. This writing uses descriptive legal research, in which the author uses a normative juridical research type using the Library Research data collection method. This research aims to determine how the legal certainty and protection of the parties in mediating the resolution of Sharia financial disputes, a comparison of progressive legal analysis of Hans Kelsen and Satjipto Raharjo's legal theory in resolving Sharia financial disputes. Based on the research and discussion results, a picture is obtained that legal certainty (rechtssicherheit) Legal certainty is the certainty of laws or regulations; all kinds of methods, methods, and so on must be based on laws or regulations. Within legal certainty, there are positive laws and written laws. Normative legal certainty is when a regulation that regulates it clearly and logically is created and promulgated. Progressive Law wants to return the Law to the right track (on the right track). For this reason, Satjipto Rahardjo thinks that legal breakthroughs are needed (legal breakthroughs, not legal breaking) in law formation and enforcement.

The Expectations of eSport Becomes Part of Sports

The development of science and technology in the 21st century is increasingly rapid, as can be seen by the race of telecommunications companies to create communication tools that offer convenience. As a global industry considered from a financial perspective, eSport is receiving attention from various circles and is being developed to increase competition interest and financial benefits. Sports usually include forms of physical exercise that require strength, endurance, and motor skills. Sports and eSport are different. eSport players don't always move physically despite participating in competitions and rivalries. According to some experts, eSport are a subset of sports. The method used is library research in the form of article review. The implementation of library research consists of investigating, mapping, combining, and evaluating previous research findings on a particular topic or field of knowledge. This method uses various sources of information, including primary articles (n=29). The point is that eSport players tend to be sedentary lifestyle players, which results in problems with fitness and health, so it is not in accordance with the impact of traditional sports physical activities that use large muscles to move body parts while moving. The status of eSport in sport is being questioned in Sport Science studies, as it does not have a positive impact on the fitness and health of eSport players unlike traditional sports athletes. It is increasingly clear that eSport should be seen as electronic entertainment and competition rather than as part of a sport that includes dominant physical activity.

Cost-effectiveness of the adjuvanted quadrivalent influenza vaccine for older adults in South Korea

ABSTRACT South Korea’s National Immunization Program administers the quadrivalent influenza vaccine (QIV) to manage seasonal influenza, with a particular focus on the elderly. After reviewing the safety and immune response triggered by the adjuvanted QIV (aQIV) in individuals aged 65 and older, the Ministry of Food and Drug Safety in Korea approved its use. However, the extensive impact of aQIV on public health is yet to be fully understood. This study assessed the cost-effectiveness of replacing QIV with aQIV in South Korean adults aged 65 years and older. A dynamic transmission model, calibrated with national influenza data, was applied to compare the influence of aQIV and QIV on older adults and the broader population throughout a single influenza season. This study considered both the direct and indirect effects of vaccination on the elderly. We derived the incremental cost-effectiveness ratios (ICERs) from quality-adjusted life-years (QALYs) and costs incurred, validated through a probabilistic sensitivity analysis with 5,000 simulations. Findings suggest that transitioning to aQIV from QIV in the elderly would be cost-effective, particularly if aQIV’s efficacy reaches or exceeds 56.1%. With an ICER of $29,267/QALY, considerably lower than the $34,998/QALY willingness-to-pay threshold, aQIV presents as a cost-effective option. Thus, implementing aQIV with at least 56.1% efficacy is beneficial from both financial and public health perspectives in mitigating seasonal influenza in South Korea.

A cost-effective seed selection model for multi-constraint influence maximization in social networks

The Influence Maximization (IM) problem aims to maximize the diffusion of information or adoption of products among users within a social network by identifying and activating a set of initial users. It is not unrealistic to have a higher activation cost for more influential users in real-life applications. However, existing works on IM focus solely on finding the most influential users as the seed set, without considering either the activation costs of individual nodes and the total budget or the size of the seed set. This oversight may lead to infeasible solutions, particularly from financial and managerial perspectives, respectively. To address these issues, we propose a more realistic and generalized formulation called Multi-Constraint Influence Maximization (MCIM) to achieve a cost-effective solution under both budgetary and cardinality constraints. The MCIM model allows for variable-length solutions, necessitating the exclusion of seed nodes from the influence spread estimation. Consequently, unlike existing IM formulations, the spread function under the MCIM model is no longer monotonic but submodular. As it has also been proven to be an NP-hard problem, we propose a Simple Additive Weighting (SAW)-assisted Differential Evolution (DE) algorithm for solving large-size real-world IM problems. Experimental results on four datasets demonstrate the effectiveness of the proposed formulation and algorithm in finding optimal and cost-effective solutions.

Analysis, modelling, and financial perspectives of reverse mortgage implementation in Colombia

PurposeIncreased life expectancy in recent years, together with the downward trend in fertility rates, will accelerate the aging of the Latin American population (Flamini and et al., 2018) [1]. This demographic change represents a problem for pension systems as the economic capacity to finance the retirement of the population could be insufficient in the future. This creates a favorable scenario for new financial products, including reverse mortgages. This study determines, from the supply approach, the potential of reverse mortgages in the main cities of Colombia as a complement to the financing of old age according to the guidelines of Benavides et al. (Benavides Franco et al., Jan. 2021) [2]. MethodologyThe following variables were used: housing prices, interest rates, mortality rates, and the consumer price index. The econometric testing simulates the possible paths of these variables, estimates the probability of occurrence of the paths, and calculates the expected losses of bidding banks. FindingsThe results show that reverse mortgages are a good complement to Colombia's pension system and confirm the feasibility of implementation at city level. It is recommended that the State stimulate the growth of this market and improve the corresponding regulatory framework. OriginalityThis study confirms the hypothesis that the reverse mortgages are a good complement to the pension system with city-level data. Specifically, it uses housing prices and mortality records from the main cities of the country (Bogotá, Cali, and Medellín) to capture their idiosyncrasies.

Research on the Relationship between Financial Asset Shortage and China’s Economic Growth -Based on the Financial Structure Evolution Perspective-

Research on the Relationship between Financial Asset Shortage and China’s Economic Growth -Based on the Financial Structure Evolution Perspective-

The Construction of Two-tier Equity Structure of Joint Stock Companies in China from the Perspective of Green Finance

In this modern era business and changing landscapes, the construction of a two-tier equity structure within Chinese joint stock companies has proved to be a very innovative and augmented strategy. This paper scrutinizes the unorthodox integration of financial architecture and ecological sustainability by evaluation of this structure through the lens of green finance. The interlacing of the principles of environmental responsibility with mainframes of corporate governance enlightens the unique dynamics and outcomes of the two-tier equity model. This study comprehensively analyses and elucidates how this mainframe facilitates the shareholder interests as they align with long-term ecological objectives. This in turn cultivates a promising environment for sustainable development. As we draw onto the theoretical calculations and perspective supplemented with empirical evidences, this research study gives birth to amenable perspectives that the green finance has the potential to transform the Chinese context by shaping the future trajectory of corporate structures. Using a dataset consisting of Chinese publicly traded companies from 2001-2017, this study investigates how a lack of funding has led to a scarcity of environmentally friendly technologies in China. We also investigate how green finance laws help businesses overcome financial hurdles on the road to eco-friendly innovation. It has been observed that a company's capacity for green innovation decreases as its financial constraints grow, and that privately held businesses are at greater danger of this happening than government-owned ones.

Analisis Kelayakan Finansial dan Non Finansial Usaha Agroindustri Kopi

The Casim Coffe business is a coffee processing business located in Karang Pring village and uses coffee beans as its main raw material. Every year coffee beans always experience price increases which cause business disruptions. This study aims to analyze the financial and non-financial feasibility of the Cash Coffee business. The financial aspect is seen from the four criteria, namely NPV, IRR, PI or Net B/C and Payback Period. The NPV value obtained is IDR 366,069,410, the IRR value obtained is 26.79%, the B/C value obtained is 2.03, and the payback period is 2 years and 2 months. On the non-financial aspects seen from technical aspects, legal aspects, social and economic aspects, environmental aspects, market aspects. The results of the study show that Casim Coffe's business is feasible from a financial and non-financial perspective, except for the environmental aspect where Casim Coffe's business needs to process liquid waste so as not to damage the surrounding environment. The results of the sensitivity analysis conducted on Casim Coffe's business show that Casim Coffe's business is sensitive to changes in raw material prices and product sales prices.

Behavioural finance and dividend changes as predictors of future profitability: A literature review

This paper's primary goal is to present a significant element of the current dividend policy challenges from the perspective of behavioral finance. Given that dividend policy is one of the more contentious subjects in corporate finance, and because of this, scholars in the field have recently attempted to address the dividend policy conundrum by utilizing behavioral finance viewpoints. From the standpoint of behavioral finance, the study provides a general overview of the literature on dividend policy. This work offers a review of the literature. Together with behavioral components, it summarizes the main theoretical justifications for the dividend policy from the standpoint of behavioral finance.

Business Strategy Map and Key Performance Indicators for Saffron Petshop Based on Balanced Scorecard

Introduction: The success of the implemented business strategy is considered successful if the company's performance ability or performance is positive or increases well. One way to calculate company performance is with a Key Performance Indicator (KPI). Objective: This paper aims to analyze the business strategy map and key performance indicators of Saffron Petshop based on a balanced scorecard. Design/methodology/approach: This research uses quantitative methods with a descriptive approach. Descriptive approach describes and explains phenomena to conclude phenomena with limited implications. The theories used in this research are Key Performance Indicators (KPI), balance Scorecard theory, and Strategic maps. The data collection technique used in this research is semi-structured interviews using questionnaires to customers at Saffron Petshop. Findings: The main findings in this study indicate that performance based on a financial perspective shows quite effective results with an increase in net profit when other types of businesses are affected by covid 19. Second, performance based on customer perspective shows very effective results when indicators of good customer satisfaction levels are calculated. Third, the effectiveness of performance based on internal business perspectives shows effective results with increased service and product innovation to increase revenue from Saffron Petshop. Fourth, performance based on the learning and growth perspective shows effective results with increased productivity and employee satisfaction.

International climate policy dilemmas: Examining effective carbon tariff and cap-and-trade regulation from a sustainable insurance perspective

This paper introduces a contingent claim model, offering a financial perspective on the global climate policy challenge. The model prioritizes the use of carbon tariffs to prevent carbon leakage and cap-and-trade initiatives to incentivize carbon emission reductions. In this model, manufacturers in an exporting country's supply chain collaborate with a life insurance company to acquire carbon allowances through the cap-and-trade mechanism. The importing country enforces carbon tariffs to protect its import-substitution industries and to prevent carbon leakage, assessed by the effective carbon tariff rate. Our findings show that increasing carbon tariffs on final products and intermediate goods reduces equity for both the life insurance company and the importer but strengthens carbon tariff protection. Conversely, a stricter regulatory cap within the exporting country's cap-and-trade system bolsters equity for the life insurance company and the importer but weakens carbon tariff effectiveness in the importing country. This dilemma underscores the urgent need for global collaboration in managing carbon emissions. Our research highlights the complex challenges of global climate policies. It is suggested to foster efficient and sustainable international cooperation in shaping climate policies to address these challenges.

Strengthen Financial Risk Prevention and Control Capabilities and Improve the Quality and Efficiency of Financial Supervision

The book Research on the Formation and Prevention of Systemic Risks in the Banking Industry from the Perspective of Platform Finance combines the complex network characteristics of the real banking industry and brings the two relatively independent financial markets of platform finance and banking industry into the same complex network framework. The analysis breaks through the traditional systemic risk research paradigm, fills the shortcomings of traditional economic methods in analyzing the internal structure of the system, provides a new way to study the topological structure characteristics of bank networks, and broadens the perspective of systemic risk research.

Research on the Impact of Investor Sentiment on IPO Underpricing of GEM

Abstract IPO underpricing appears when its closing price far exceeds issuance price on the first day of stock issuance, which is a common phenomenon all over the world. This paper first expounds the related concepts of investor sentiment and IPO underpricing, and then introduces the two perspectives of behavioral finance. Based on these two perspectives, this paper expounds the impact path of investor sentiment on IPO underpricing. Combined with the characteristics of investor sentiment, the proxy indicators of the composite indicators are selected, and the comprehensive indicators of investor sentiment are obtained by using the principal component analysis method, which are combined with the financial indicators that can reflect the market conditions. Taking the data of GEM stocks issued from January 2015 to December 2021 as the research sample, SPSS is used for stepwise regression analysis. From the results of the empirical research, there is a positive correlation between investor sentiment and IPO underpricing. Finally, this paper puts forward suggestions from two aspects: first, we should give correct and reasonable guidance to investors, and implement access policies; Second, in terms of macro policies, we should strengthen the audit of listed companies, establish an authoritative information disclosure mechanism, and put the expansion of GEM on the agenda. JEL classification numbers: G14. Keywords: GEM, Investor sentiment, IPO underpricing, Behavioral finance.

Comprehensively Strengthen Financial Supervision and Effectively Forestall and Defuse Financial Risks: Book Review on Research on the Formation and Prevention of Systemic Risks in the Banking Industry from the Perspective of Platform Finance

The book Research on the Formation and Prevention of Systemic Risks in the Banking Industry from the Perspective of Platform Finance is an in-depth discussion of the formation mechanism, characteristics, transmission paths and prevention of systemic risks in the banking industry from the perspective of platform finance. By combining theory and practice, this book not only provides readers with a comprehensive understanding of systemic risks in the banking industry, but also provides practical strategies and suggestions for banking industry risk management and supervision.

SOE REGIONAL GENERAL HOSPITAL PERFORMANCE MEASUREMENT USING THE BALANCED SCORECARD METHOD

An organization must assess the efficacy of its implemented performance measures. SoE Regional General Hospital is a local government agency specializing in public health services. This study endeavors to evaluate the performance of SoE Regional General Hospital (RSUD) by applying the Balanced Scorecard methodology. It was a descriptive quantitative study involving 81 respondents (54.9% female, 45.1% male), with a sample of 72 employees (72.8% female, 27.8% male). The findings indicate that RSUD SoE achieved a total performance measurement score of 0.6, categorizing it as 'good'. Specifically, revenue growth is observed from the financial perspective, albeit not reaching the target; expenditure costs remain within budget, and annual SILPA is reported. Customer satisfaction stands at 64.6%, representing a positive outcome in the customer perspective. Innovations in operational processes are evident in the internal business perspective, though inpatient service indicators fall short of Ministry of Health standards. Regarding growth and learning, employee satisfaction reaches 70.8%, with regular training programs and a favorable retention rate, indicating a conducive environment for employee productivity. Overall, the Balanced Scorecard assessment places the performance of the state-owned hospital within an acceptable range, indicating satisfactory performance levels.

Home equity and retirement funding: Challenges and opportunities

We investigate the use of home equity to address the retirement saving crisis and funding shortfall. Using survey data from consumers and financial planners, we examine Canadian consumers' views on equity release and gauge financial planners' knowledge, attitudes, and perspectives towards recommending equity release products to their clients. Our findings indicate that a primary barrier for consumers is their lack of understanding about home equity release schemes. However, when these schemes are more cost-effective and endorsed by financial planners, they become more attractive. Behavioral biases and emotional attachment to one's home did not affect consumers' willingness when considering these options. Among financial planners, there's a general comfort in advising on home equity release. Their preferred recommendation is the “sell and downsize” strategy, followed by HELOC. Interestingly, older planners and those with personal biases tend to be more hesitant in giving advice on this subject. The results of this study suggest there may be a willingness to access home equity by future retirees, and that there is less desire to bequeath assets to the next generation.

Mitigating local bias in equity crowdfunding: a financial ecology perspective

Abstract This study analyses the relationship between geographic space, social networks, and financial knowledge in interregional equity crowdfunding flows based on the concept of financial ecology. Using data from a leading Dutch equity crowdfunding platform, we find that interregional crowdfunding investment decreases with geographic distance. Furthermore, the negative effect of distance is weaker if interregional social networks are strong and if the investor region has a high concentration of the financial industry. The results extend the conceptual foundation of financial ecology by explaining how individual behaviors affect the macro-level output of a financial ecology.

A comparative study of the impact of Covid-19 on the liquidity of selected microfinance finance institutions in Zambia

The aim of this paper is to conduct a comparative analysis of the impact of the COVID-19 pandemic on the liquidity of Agora Microfinance Zambia and Microfinance Zambia within Zambia. The study was significant because it showed the impact of the COVID-19 pandemic on the liquidity of microfinance institutions in Zambia. The study used three key proxy variables – cash ratio, quick ratio and net working capital ratio – to identify the relationship between the COVID-19 pandemic and MFI liquidity. COVID-19 was a surrogate for the pandemic during the COVID-19 pandemic period (2019-2021) and the pre-pandemic period (2017-2018). Using the Wilcoxon statistical testing tool, a hypothesis was developed to guide the investigation and perform a statistical test of the parameter estimates. The study employed a longitudinal research design and utilized data from the audited financial statements of microfinance institutions. Data were analyzed using STATA and Excel. It was found that the lockdowns imposed to contain the spread of the COVID-19 virus had less impact on the liquidity of the two microfinance institutions from an economic and financial perspective. The results of this research will have implications for the policies of companies and financial institutions.

Rancangan Pengukuran Kinerja Perusahaan Dengan Metode Balanced Scorecard Pada CV. Angkasa Raya Teluk Kuantan

This study aims to assess performance using the balanced scorecard method across various perspectives: financial, customer, internal business processes, and growth and learning. The research employs a quantitative approach with primary and secondary data sources, involving 40 respondents from CV Angkasa Raya Teluk Kuantan employees, selected through accidental sampling. Data analysis, including validity and reliability tests, is conducted using SPSS 25. The findings indicate that (1) the financial perspective for CV Angkasa Raya Teluk Kuantan is generally positive, (2) the customer perspective reveals the company's ability to achieve customer satisfaction, (3) the internal business process perspective reflects favorable results in the areas of innovation, operations, and after-sales service, and (4) the growth and learning perspective suggests satisfactory employee satisfaction and effective training programs. The study provides a comprehensive assessment of performance measurement using the balanced scorecard method, offering insights into the company's strengths across various dimensions.