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To explain the Hague Securities Convention in the context of secured financing transactions in the US and to discuss the implications of the Convention on new and existing transactions, as well as on market practice going forward.

This article provides a broad overview of the Hague Securities Convention and the impact of the Convention’s choice of law rules on secured financing transactions in the US involving intermediated securities, including how this deviates from previously applicable laws (such as the Uniform Commercial Code), and provides practical considerations with respect to secured financing transactions.

While in most circumstances the Convention provides for the same choice of law as previously applicable laws, there are certain scenarios where the Convention will produce a different result. Market practice with respect to perfecting security interests will likely change to take account of the Convention and to provide the parties with certainty regarding the law applicable to secured transactions.

The Convention calls for increased diligence with respect to the law governing the account agreement between the debtor and the securities intermediary and whether the securities intermediary has a qualifying office in that jurisdiction.

Practical guidance from experienced finance lawyers.

The purpose of this paper is to focus on the specific “shareholder's” concept of transparency.

It considers that indirect securities holding systems limit the degree of “post-trading” transparency. The main concern is that an adverse effect of globalized capital markets is that the actual shareholders are not registered in the official registries and registrations are effected in the name of intermediaries acting on their behalf. It further considers that new EU legislative action should be taken to address the legal issues of securities holdings as a key parameter for EU integration.

A new architecture of the securities holding system is proposed in this paper to be adopted at the EU level on the basis of the analyzed direct registration, i.e. registration of all the actual shareholders in the registries. It is considered that this architecture will promote securities holdings transparency for all systems, either direct or indirect, and hence enhance investors' protection and financial confidence in the markets. Focusing on the financial crisis of the recent years, it is worthy of note that a key parameter in solving this crisis problem could be considered not only the imposition of more possible regulatory requirements on all financial players but also the improvement credibility of the markets by making their operation more transparent. Direct registration could be defined as a method of making the markets more transparent in this regard.

In the light of the financial crisis of 2007-2009, this is one of the first studies, which clearly argues that direct registration could be considered the appropriate method of making the financial markets more transparent. Therefore, it calls for the EU legal intervention should therefore be accelerated. By delaying improvement in the efficiency of the available infrastructures mainly by utilizing all the advantages that technology offers, the markets accept the additional cost of higher risk coverage.

A major impediment to the advancement of ethics research in the accounting domain is the availability of appropriate research participants. This study aims to investigate the validity of using student surrogates in accounting ethics research.

A survey instrument was administered to a sample of US accounting practitioners (Certified Public Accountants) and two student respondent groups: intermediate and advanced-level accounting students. Both personal values and ethical judgments were measured.

Significant differences were found in both the structure of personal values and ethical judgments between practitioners and accounting students. Life-stage effects play an important role in explaining these differences. Hedonistic values are seen to become less salient through the maturation process, whereas others, such as security, become increasingly important. Unexpectedly, values are found to have little direct impact on ethical judgments.

The cross-sectional nature of the research design means the impacts of maturation and experience can only be inferred. Future corroborating longitudinal studies are encouraged.

Overall, the findings suggest caution in the use of student surrogates in this research context. In particular, adequate attention ought to be given to the close matching of ages, and to the extent possible, the education level between students and the target professional population. Insights provided by the study into factors underlying the ethical decision-making process of accountants provide a basis for evaluating the capabilities of employees and can be used in education and organizational training.

This study addresses a significant gap in the prior literature by concurrently considering the interrelationships between personal values, ethical judgment and subject type in studying the suitability of student surrogates in accounting ethics research.

This paper aims to examine the conditions under which small and medium enterprises (SMEs) invest in security services when they migrate their e-commerce applications to the cloud environment. Using a risk management perspective, the paper assesses the impact of security service pricing, security incident prevalence and virulence to estimate SME security spending at the market level and draw out implications for SMEs and security service providers.

Security risks are inherently characterized by uncertainty. This study uses a Monte Carlo approach to understand the role of uncertainty in the decision to adopt security services. A model relating key security constructs is assembled based on key constructs from the domain. By manipulating security service costs and security incident types, the model estimates the market-level adoption of services, security incidents and damages incurred, along with measures of their relative dispersion.

Three key findings emerge from this study. First, adoption of services and protection is higher when tiered security services are provided, indicating that SMEs prefer to choose their security services rather than accept uniformly priced products. Second, SMEs are considered price-sensitive, resulting in a maximum level of spending in the market. Third, results indicate that security incidents and damages can be much higher than the mean in some cases, and this should serve as a cautionary note to SMEs.

Security spending has been modeled at the firm level. Adopting a market-level perspective represents a novel contribution. Additionally, the Monte Carlo approach provides managers with tangible measures of uncertainty, affording additional information and insight when making security service adoption decisions.

In a risk analysis system, different underlying indices often play different roles in identifying the risk scale of the total target in a system, so a concept of discriminatory weight is introduced first. With the help of discriminatory weight and membership functions, a new method for information security risk analysis is proposed. The purpose of this paper is to discuss the above issues.

First, a concept of discriminatory weight is introduced. Second, with the help of fuzzy sets, risk scales are captured in terms of fuzzy sets (namely their membership functions). Third, a new risk analysis method involving discriminatory weights is proposed to realize a transformation from the membership degrees of the underlying indices to the membership degrees of the total target. At last, an example of information security risk analysis shows the effectiveness and feasibleness of the new method.

The new method generalizes the weighted-average method. The comparative analysis done with respect to other two methods show that the proposed method exhibits higher classification accuracy. Therefore, the proposed method can be applied to other risk analysis system with a hierarchial.

This paper proposes a new method for information security risk analysis with the help of membership functions and the concept of discriminatory weight. The new method generalizes the weighted-average method. Comparative analysis done with respect to other two methods show that the proposed method exhibits higher classification accuracy in E-government information security system. What is more, the proposed method can be applied to other risk analysis system with a hierarchial.

Quantifying the efficacy of marketing is an age-old challenge. As John Wanamaker said a century ago, “Half the money I spend on advertising is wasted; the trouble is I don't know which half.” The big difference today, however, is that the Internet enables detailed tracking of marketing campaigns in real time, or near time. Exemplifies how to leverage the Internet to dramatically improve the efficacy of marketing. Centers upon the Microsoft Security Guidance marketing campaign, which was designed to change IT professionals' perception of Microsoft's software product security. The integrated marketing campaign involved print media, analyst relations, and online advertising. The advertising was designed to drive IT professionals to a Web site on security guidance, then sign them up for free in-person security training classes. Illustrates two important best practices for marketing in the Internet age: first, the campaign was designed to be measured, and second, agility was specifically designed into the campaign. In addition to tracking weekly click-through data from the print and online advertising, the campaign also used online pop-up customer perception surveys. Analyzing the click-though data, Microsoft realized it had a problem at the end of the first week of the campaign–there were far fewer signups for the training sessions than anticipated. By the end of the second week the campaign was changed, resulting in a huge improvement in efficacy. Creates a scorecard illustrating the pros and cons of the Microsoft approach compared to a more traditional campaign. Illustrates how, rather than creating big-bang campaigns, high-performing marketing organizations today are continually experimenting. They build flexibility into campaigns and design them to be measured.

To learn how to leverage the Internet in marketing campaigns, analyze click-through data and online survey results acquired in near time, and learn how it is used to fine tune and dramatically improve a campaign. Furthermore, illustrates how nonfinancial metrics can be used to quantify marketing efficacy.

This paper aims to investigate empirically whether Islamic securities enhance economic growth in the Southeast Asian region based on the endogenous growth theory using the non-parametric analysis.

This paper applies panel quantile regression with Markov chain Monte Carlo optimization as an optimal non-parametric approach to investigate the effect of Islamic securities on economic growth starting from 2013Q4 to 2019Q4 in Southeast Asia. Total issued Islamic securities holdings are employed as a measure for Islamic securities, while the gross domestic product is employed as a proxy for economic growth. The sample includes all working Islamic financial foundations in the top progressive Islamic securities markets' countries of Southeast Asia (Malaysia, Indonesia and Brunei Darussalam).

The findings confirm that the increase of issuing Islamic securities in Islamic capital markets of Southeast Asia is increasing the levels of economic growth, reflecting the weighty role of the Islamic capital market development as an active contributor to economic growth.

This research would fill the literature gap by exploring Islamic securities–economic growth nexus in Southeast Asia using a robust non-parametric approach based on the endogenous growth theory for better estimation results. The findings of this review serve as a roadmap for financial analysts, policymakers and decision makers to stimulate the Islamic securities markets as another source of finance which can promote the economic growth.

This research is the first that investigates empirically the Islamic securities–economic growth nexus in Southeast Asia using a new empirical investigation built on the non-parametric analysis and outlined within the theoretical context of the endogenous growth model to gain robust evidence about this nexus.

To present which properties of social systems can be used in studying and determining their broadly defined security. A core concept of security is to be developed into a typology of attributes of security of social systems.

The interpretation of security has become one of the most important challenges of theory of international relations and of related areas. Unfortunately, theory only follows the processes and provides descriptions and interpretations. Explanations are rare or superficial. Predictions or normative approaches, essential for security considerations, are mainly embedded either in ideological discourse or in common sense conclusions. A broadly defined systems thinking is applied as an instrument allowing for enhancement of methodology of security research in dealing with complex social phenomena.

It may not be expected that systems thinking could provide all the answers to the questions arising in security theory and policy. At the same time, it can be shown how strongly the discourse on a broadly defined security, not only in international relations, has been influenced by systems thinking.

It is but an introductory survey study and includes omissions and simplifications that have to be explained in detail in further studies.

An introduction to the further research on the links between systems thinking and discourse on broadly defined security of individuals and social systems.

Allows systems specialists to avoid simplifications in understanding social systems and at the same time helps security specialists to avoid abuses and trivialization of systems thinking.

It is well known that before the commencement of the reform in 1978, China practiced a planned economic system (to be exact, an examination and approval economy). This system was characterized by its over‐centralization, the practice of planned management, exclusion of market mechanisms and neglect of the law of value. As a kind of exploration for the initial construction of the socialist state, this highly centralized planned economic system achieved notable results. It played a positive role in accelerating economic construction, especially industrial construction, by concentrating limited resources of a backward country in specific ways. However, with the development of socialist production and the expansion of the construction scale, the planned economy's defects of overlooking the law of value and the role of the market became greater with each passing day, it led to the irrational allocation of resources, low economic returns and serious hindrance to the enhancement of overall national strength, thereby restraining the vitality and vigor of socialism. The history of world economic development has proved that under state macro‐control, the market economic structure and operating mechanism based on the full development of commodity production and the law of value are so far the more effective economic structure and operating mechanism in human history that can properly realize the optimum allocation of social resources and promote the development of productive forces. Therefore, in China at the present stage, the replacement of the administrative economic system by the market economic structure is a major reform aimed to liberate and develop productive forces and bring about fuller development of the superiority of the socialist publicly owned economy.