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Abstract

Details

Understanding Intercultural Interaction: An Analysis of Key Concepts, 2nd Edition
Type: Book
ISBN: 978-1-83753-438-8

Open Access
Article
Publication date: 23 October 2023

Daniel Cookman

This study aims to identify European positioning on the use of remote customer onboarding solutions in combating financial crime.

Abstract

Purpose

This study aims to identify European positioning on the use of remote customer onboarding solutions in combating financial crime.

Design/methodology/approach

This study is a desktop research that examines European Banking Authority (EBA) policy statements relating to the use of innovative solutions in combating financial crime.

Findings

Technological advancements in biometric data and software tools provide a unique opportunity to address potential paper customer onboarding process deficiencies. Electronic remote customer onboarding solutions equip credit, financial institutions and investment firms with an alternative FTE cost-saving solution, in their pursuit of revenue generation. Whilst the EBA and Financial Action Task Force have provided approval for the utilisation of innovative solutions and AML technologies in combatting financial crime. Hesitancy remains on the ability of credit and financial institutions to use technological solutions as a “magic solution” in preventing the materialisation of money laundering/terrorist financing related risks. Analysis of policy suggests a gravitation towards the increased use of the aforementioned technologies in the interim.

Originality/value

Capitalisation of European banking authority.

Details

Journal of Money Laundering Control, vol. 26 no. 7
Type: Research Article
ISSN: 1368-5201

Keywords

Article
Publication date: 6 June 2023

Alexander Conrad Culley

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…

Abstract

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 working for, or with, UK investment firms engaged in algorithmic trading activities.

Findings

The paper finds that practitioners generally have a good understanding of the requirements in RTS 6. Some lack knowledge of algorithms, coding and algorithmic strategies but have used best efforts to implement RTS 6. However, regulatory fatigue, complacency, cost pressures, governance in international groups, overreliance on external knowledge and generous risk parameter calibration threaten to undermine these efforts.

Research limitations/implications

The study’s findings are limited to the participants’ insights. Some areas of the RTS 6 regime attracted little comment from participants.

Practical implications

The paper proposes the introduction of mandatory algorithmic trading qualification requirements for key staff; the lessening of the requirements in RTS 6 for automated executors; and the introduction of a recognised software vendor regime to reduce duplication and improve coordination between market participants that deploy algorithmic trading systems.

Originality/value

To the best of the author’s knowledge, the study represents the first qualitative examination of firms’ implementation of the algorithmic trading regime in the second Markets in Financial Instruments Directive 2014/65/EU.

Details

Journal of Financial Regulation and Compliance, vol. 31 no. 5
Type: Research Article
ISSN: 1358-1988

Keywords

Article
Publication date: 9 January 2024

Gifty Kenetey and Boris Popesko

This study aimed to examine the adoption of consortium blockchain technology to ensure interoperability for the transparency of budgetary control in Ghanaian local government.

Abstract

Purpose

This study aimed to examine the adoption of consortium blockchain technology to ensure interoperability for the transparency of budgetary control in Ghanaian local government.

Design/methodology/approach

This study is based on the design science research (DSR) observational technique for developing a consortium blockchain budgetary control system for Ghana's local government.

Findings

The study resulted in the design of a consortium blockchain monitoring and evaluation system to set up a mechanism to monitor various budget projects, processes and transactions for Ghana's local government. The findings also proved Ghana is ideally positioned to gain an advantage from designed artefacts such as ours, given its digital financial service (DFS) policy. In addition, the evaluation of the designed artefact proves there will be a positive impact on budgetary processes by addressing transparency concerns; however, the success of this concern depends on how the local government organisation embraces the artefact.

Research limitations/implications

The study sheds light on budget monitoring and evaluation tied to peer-to-peer (P2P) participation in the public sector via an advanced administrative digitalised networking and communication algorithm (A Distributed Ledger Technology - blockchain). The difference between the designed artefact and the traditional M&E system is argued. The study is limited by the paradoxes and inefficiencies of the integration of blockchain into the Ghanaian local government but, at the same time, presents a high level of certainty and possibility.

Practical implications

The proposed artefact has presented relevance because it is a new solution to existing concerns like trust, transparency, accountability and compliance, thereby improving local government budget administration.

Originality/value

The study has offered unique and new methods, guidelines and designs for tracking various budget projects and processes beyond the conventional technology-driven approach via DSR, exhibiting a unique solution for solving budget transparency, trust, accountability, compliance and data accessibility concerns.

Details

International Journal of Public Sector Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0951-3558

Keywords

Article
Publication date: 21 March 2024

Sukarmi Sukarmi, Kukuh Tejomurti and Udin Silalahi

This study aims to analyze the development of digital market characteristics particularly focusing on how the strategic choices of platforms are not fully reflected in pricing. In…

Abstract

Purpose

This study aims to analyze the development of digital market characteristics particularly focusing on how the strategic choices of platforms are not fully reflected in pricing. In addition, the implications for the development of theories of harm are investigated to explore the necessity of a relevant market definition in assessing infringement and evaluating the adequacy of Indonesian competition law.

Design/methodology/approach

This study is a legal analysis that uses statutory approaches, cases, comparative law and the development of theories of harm in digital mergers. The case approach is conducted by analyzing three cases decided by the Indonesia Business Competition Supervisory Commission. This approach provides insight into the response of Komisi Pengawas Persaingan Usaha concerning the merger and acquisition cases in the digital era as well as the provision of different analyses in conventional markets. However, competition can be potentially damaged in digital markets and a comparative law approach is taken by analyzing digital merger cases decided by authorities in other countries.

Findings

Results reveal that the digital market has created a “relevant market” that is challenging and blurred due to multi-sided network effects and consumer data usage characteristics. Platform-based enterprises’ prices fluctuate due to the digital market’s network effect and consumer data statistics. Smartphone prices depend on the number of apps and consumer data. Neoclassical theory focusing on product markets and location applied in Indonesia must be revised to establish a relevant digital economy market. To evaluate digital mergers, new harm theories are needed. The merger should also protect consumer data. Law Number 27 of 2022 on Personal Data Protection and Government Regulation on the Implementation of Electronic Systems and Transactions protects online consumers, a basic step in due diligence for digital mergers. The Indonesian Government should promptly strengthen the notion of “relevant markets” in the digital economy, which could lead to fair business competition violations like big data control. Notify partners or digital merger participants of the accessibility of sensitive data like transaction history and user location.

Originality/value

The development of digital market characteristics has implications for developing theories of harm in digital markets. Indonesian competition law needs to develop such theories of harm to analyze the potential for anticompetitive digital mergers in the digital economy era.

Details

International Journal of Law and Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1754-243X

Keywords

Article
Publication date: 13 July 2023

Saida Dammak and Manel Jmal Ep Derbel

The present work aimed to present the perception of Tunisian professionals towards companies engaged in social responsibility practices and describe the tax evasion strategies of…

Abstract

Purpose

The present work aimed to present the perception of Tunisian professionals towards companies engaged in social responsibility practices and describe the tax evasion strategies of socially responsible Tunisian companies following the coronavirus disease 2019 (COVID-19) pandemic (COVID-19) shock.

Design/methodology/approach

A survey was sent to 119 Tunisian tax administration auditors. Data analysis methods principal component analysis (PCA) and regression analysis were used. The data were collected through a questionnaire after the general containment of Tunisia from September 2020 to February 2021. These quantitative data were analysed using processing software (STATA).

Findings

Professionals of the tax authorities, particularly those in charge of the audit mission, aim for corporate profitability from the perspective of stakeholders that seek to integrate ethics and social responsibility into companies and consider employee morale a top priority. The results show that highly ethical and socially responsible professionals are far from practising aggressive strategies. Thus, an auditor from the tax administration is far from engaging in social responsibility to justify fraudulent acts. During the COVID-19 period, the role of these professionals was to prevent and detect fraud in the tax sector to fight corruption and investigate taxes based on sound regulations.

Research limitations/implications

The results are consistent with optimal taxation theory, which postulates that a tax system should be chosen to maximise a social welfare function subject to a set of constraints. Professionals seek to make taxation much simpler for taxpayers by providing advice and consultation to manage tax obligations. The minimisation of tax or the play of tax values requires expertise in the field to respect legal constraints. Therefore, these professionals play a crucial role in tax collection, as the professionals' advice and suggestions can influence taxpayers' decision-making.

Practical implications

In recent years, academic researchers, policy makers and the public have become increasingly interested in corporate tax evasion behaviour. At the same time, companies are under increasing pressure to integrate CSR into the companies' decision-making processes, which has led to increased academic interest in CSR. Opportunistic tax minimisation reduces state resources and funds needed for government programmes to improve the social welfare of the entire community. This study represents an overriding concern not only for legal and tax authorities and companies, but also for shareholders and stakeholders.

Originality/value

The authors' study contributes to the existing literature by determining the state of play on corporate social responsibility (CSR) practices amongst Tunisian tax authorities' professionals. In Tunisia, an executive of the tax authorities in charge of the verification mission is required to verify the proper application of the accounting and tax legislation in force, follow up on tax control operations on declared taxes and validate the sincerity of the accounts. This study focussed on the tax evasion of companies engaged in social responsibility practices according to the judgements of Tunisian tax authorities' auditors during the global COVID-19 pandemic.

Details

Journal of Applied Accounting Research, vol. 25 no. 2
Type: Research Article
ISSN: 0967-5426

Keywords

Article
Publication date: 16 January 2024

Călin Mihail Rangu, Leonardo Badea, Mircea Constantin Scheau, Larisa Găbudeanu, Iulian Panait and Valentin Radu

In recent years, the frequency and severity of cybersecurity incidents have prompted customers to seek out specialized insurance products. However, this has also presented…

Abstract

Purpose

In recent years, the frequency and severity of cybersecurity incidents have prompted customers to seek out specialized insurance products. However, this has also presented insurers with operational challenges and increased costs. The assessment of risks for health systems and cyber–physical systems (CPS) necessitates a heightened degree of attention. The significant values of potential damages and claims request a solid insurance system, part of cyber-resilience. This research paper focuses on the emerging cyber insurance market that is currently in the process of standardizing and improving its risk analysis concerning the potential insured entity.

Design/methodology/approach

The authors' approach involves a quantitative analysis utilizing a Likert-style questionnaire designed to survey cyber insurance professionals. The authors' aim is to identify the current methods used in gathering information from potential clients, as well as the manner in which this information is analyzed by the insurers. Additionally, the authors gather insights on potential improvements that could be made to this process.

Findings

The study the authors elaborated it has a particularly important cyber and risk components for insurance area, because it addresses a “niche” area not yet proper addressed in specialized literature – cyber insurance. Cyber risk management approaches are not uniform at the international level, nor at the insurer level. Also, not all insurers can perform solid assessments, especially since their companies should first prove that they are fully compliant with international cyber security standards.

Research limitations/implications

This research has concentrated on analyzing the current practices in terms of gathering information about the insured entity before issuing the cyber insurance policy, level of details concerning the cyber security posture of the insured entity and way such information should be analyzed in a standardized and useful manner. The novelty of this research resides in the analysis performed as detailed above and the proposals in terms of information gathered, depth of analysis and standardization of approach made. Future work on the topic can focus on the standardization process for analyzing cyber risk for insurance clients, to improve the proposal based also on historical elements and trends in the market. Thus, future research can further refine the standardization process to analyze in more depth the way this can be implemented and included in relevant legislation at the EU level.

Practical implications

Proposed improvements include proposals in terms of the level of detail and the usefulness of an independent centralized approach for information gathering and analysis, especially given the re-insurance and brokerage activities. The authors also propose a common practical procedural approach in risk management, with the involvement of insurance companies and certification institutions of cyber security auditors.

Originality/value

The study investigates the information gathered by insurers from potential clients of cyber insurance and the way this is analyzed and updated for issuance of the insurance policy.

Details

The Journal of Risk Finance, vol. 25 no. 2
Type: Research Article
ISSN: 1526-5943

Keywords

Article
Publication date: 27 January 2023

Caesar Marga Putri, Josep Maria Argilés-Bosch and Diego Ravenda

This study aims to investigate how the village government implements internal control, accountability, transparency and participation in the good governance practice for…

Abstract

Purpose

This study aims to investigate how the village government implements internal control, accountability, transparency and participation in the good governance practice for corruption prevention and detection in Indonesia.

Design/methodology/approach

This study is qualitative research by conducting a semi-structured interview with village staff, village consultative council members and auditors.

Findings

The findings highlight three major issues contributing to poor governance and the failure to prevent and detect corruption.

Practical implications

The regulator should urgently provide accounting standards, audit standards and internal control regulations for the village to create good governance for eradicating corruption.

Originality/value

This paper is a ground-breaking study that investigates the governance practice in the village as an anchor to solve the chronic corruption problem and offers a new direction of research in the village government.

Details

Journal of Financial Crime, vol. 31 no. 2
Type: Research Article
ISSN: 1359-0790

Keywords

Article
Publication date: 19 December 2023

Udani Chathurika Edirisinghe, Md Moazzem Hossain and Manzurul Alam

This study aims to explore the managerial conception of the determinants and barriers of sustainability integration into management control systems (MCS) of manufacturing…

Abstract

Purpose

This study aims to explore the managerial conception of the determinants and barriers of sustainability integration into management control systems (MCS) of manufacturing companies in Sri Lanka. Although existing literature has explored the factors that influence the adoption of specific management controls to handle environmental and social issues, the role of management conception has been underrepresented. Specifically, literature is scarce in identifying contextual and organisational factors that influence corporates beyond mere adoption of controls but to integrate with regular controls, especially in developing countries such as Sri Lanka.

Design/methodology/approach

A multiple case study approach has been used to identify the management conception of barriers and enablers for sustainability control integration. The analysis is conducted based on a theoretical framework extending the work of Gond et al. (2012) and George et al. (2016). To obtain an in-depth and multifaceted view, semi-structured interviews were conducted with managers in charge of different functional departments of five manufacturing companies.

Findings

The findings identified managers’ perceived factors, such as environmental impact, stakeholder pressure (customer, competitor and regulatory authorities) and top management commitment, showing a clear difference between strongly and weakly integrated companies. Contrary to the literature, domestic regulatory pressure and multinational ownership do not sufficiently drive MCS sustainability integration.

Practical implications

The findings have implications for managers and practitioners to anticipate the potential barriers and determinants of sustainability integration and provide guidance to take proper measures to deal with them when designing and implementing their MCS.

Originality/value

The study adds value to the literature by presenting a theoretical framework based on the triangulation of different theories to recognise the significance of management idea in sustainable integration. Furthermore, because sustainable integration of MCS is a novel idea, this research is one of the earlier attempts to highlight problems from the perspective of developing countries.

Details

Qualitative Research in Accounting & Management, vol. 21 no. 2
Type: Research Article
ISSN: 1176-6093

Keywords

Open Access
Article
Publication date: 1 June 2023

Edward Ayebeng Botchway, Kofi Agyekum, Hayford Pittri and Anthony Lamina

This study explores the importance of and vulnerabilities in deploying physical access control (PAC) devices in a typical university setting.

Abstract

Purpose

This study explores the importance of and vulnerabilities in deploying physical access control (PAC) devices in a typical university setting.

Design/methodology/approach

The study adopts face-to-face and telephone interviews. This study uses a semi-structured interview guide to solicit the views of 25 interviewees on the subject under consideration. Qualitative responses to the interview are thematically analyzed using NVivo 11 Pro analysis application software.

Findings

The findings reveal five importance and seven vulnerabilities in the deployment of PAC devices in the institution. Key among the importance of deploying the devices are “prevent unwanted premise access or intrusions,” “prevent disruptions to university/staff operations on campus” and “protect students and staff from outside intruders.” Key among the identified vulnerabilities are “tailgating”, “delay in emergent cases” and “power outage may affect its usage.”

Originality/value

This study offers insight into a rare area of study, especially in the Sub-Saharan Africa region. Furthermore, the study contributes to the state-of-the-art importance and vulnerabilities in deploying PAC devices in daily human activities. The study is valuable in that it has the potential to establish a foundation for future studies that may delve into investigating issues associated with the deployment of PAC devices.

Details

Frontiers in Engineering and Built Environment, vol. 4 no. 1
Type: Research Article
ISSN: 2634-2499

Keywords

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