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Article
Publication date: 9 January 2007

Hatice Uzun and Elizabeth Webb

This paper aims to offer a comprehensive comparison of the characteristics between banks that securitize and banks that do not and to provide evidence of the capital

Abstract

Purpose

This paper aims to offer a comprehensive comparison of the characteristics between banks that securitize and banks that do not and to provide evidence of the capital arbitrage theory of securitization.

Design/methodology/approach

First, the fundamental financial similarities and differences between banks that securitize assets and banks that do not participate in the securitization market are tested. Second, variables that help predict whether a bank securitizes assets are analyzed. Third, the determinants of securitization extent in banks that securitize assets are investigated – for general securitization extent and for specific type of asset securitized. Using a sample of 112 banks that securitize different assets, a matched sample of banks that do not securitize based on entity type and size is created. A quarterly panel data set of these banks dating back to 2001 is used.

Findings

The results indicate that bank size is a significant determinant of whether a bank securitizes. Further, overall securitization extent is negatively related to the bank's capital ratio (in support of capital arbitrage theory), but this result is primarily driven by credit card securitization.

Originality/value

Utilizing a unique data set of quarterly data from bank Call Reports; the panel data set is large relative to past studies. A matched sample approach was used to test fundamental financial similarities and differences between securitizing and non‐securitizing banks. In addition to aggregated securitization, an examination was made of how different classes of assets affect the banks' risk‐based capital ratios and test the capital arbitrage theory of securitization.

Details

The Journal of Risk Finance, vol. 8 no. 1
Type: Research Article
ISSN: 1526-5943

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Book part
Publication date: 25 October 2019

Pawan Handa, Jean Pagani and Denise Bedford

Abstract

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Knowledge Assets and Knowledge Audits
Type: Book
ISBN: 978-1-78973-771-4

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Article
Publication date: 1 December 2000

Patrick H. Sullivan and Patrick H. Sullivan

There is a dramatic increase in the number of companies whose value lies largely in their intangible assets; with relatively little or no value associated with their…

Abstract

There is a dramatic increase in the number of companies whose value lies largely in their intangible assets; with relatively little or no value associated with their tangible assets. Traditional methods of valuation, based on accounting principles, where the value of the firm’s assets is a portion of the value, have systematically undervalued companies such as these. This article discusses the problem of valuing intangibles companies and suggests two approaches to determining their value. It also describes two common circumstances where company value is desired and discusses how value may be determined using a non‐traditional perspective on the company along with traditional methods for valuation. The two circumstances examined are the going‐concern value and the value under merger or acquisition circumstances (recognizing that these two circumstances produce very different valuations for the corporation).

Details

Journal of Intellectual Capital, vol. 1 no. 4
Type: Research Article
ISSN: 1469-1930

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Article
Publication date: 1 May 1987

1.1 What Are Accounts For? Overview The purpose of accounts is to reveal performance in the conduct of a business or other activity concerned with use of economic…

Abstract

1.1 What Are Accounts For? Overview The purpose of accounts is to reveal performance in the conduct of a business or other activity concerned with use of economic resources (e.g. a club). It is thus a matter of stewardship. Although, like economics, it is necessary in accounting to use money as a measure of performance, it is concerned with the individual organisation rather than with economic phenomena as a whole.

Details

Management Decision, vol. 25 no. 5
Type: Research Article
ISSN: 0025-1747

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Article
Publication date: 1 March 2003

Jan Mouritsen

This paper argues that intellectual capital and intangible assets are difficult resources for two different reasons. First, intellectual capital and intangibles assets are…

Abstract

This paper argues that intellectual capital and intangible assets are difficult resources for two different reasons. First, intellectual capital and intangibles assets are not (yet) disentangled by the institutions of the capital markets, and therefore they are not (yet) translatable with any degree of confidence into predictions about stock price behaviour. Second, intellectual capital and intangibles are not absent from capital market intelligence; they are just typically translated into financial form, when they are presented to actors in the capital markets, even if in forms that are themselves “invisible”. The capital market may have limited understanding of intellectual capital, but it is also always seeking to understand the complexity of business and (im)possible futures. Its appreciation of intellectual capital is therefore fragile.

Details

Accounting, Auditing & Accountability Journal, vol. 16 no. 1
Type: Research Article
ISSN: 0951-3574

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Article
Publication date: 1 February 1993

Richard Dobbins

Sees the objective of teaching financial management to be to helpmanagers and potential managers to make sensible investment andfinancing decisions. Acknowledges that…

Abstract

Sees the objective of teaching financial management to be to help managers and potential managers to make sensible investment and financing decisions. Acknowledges that financial theory teaches that investment and financing decisions should be based on cash flow and risk. Provides information on payback period; return on capital employed, earnings per share effect, working capital, profit planning, standard costing, financial statement planning and ratio analysis. Seeks to combine the practical rules of thumb of the traditionalists with the ideas of the financial theorists to form a balanced approach to practical financial management for MBA students, financial managers and undergraduates.

Details

Management Decision, vol. 31 no. 2
Type: Research Article
ISSN: 0025-1747

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Article
Publication date: 19 October 2012

Johan Christiaens, Jan Rommel, Allan Barton and Patricia Everaert

In recent years, accrual accounting has become increasingly popular in many governments. Yet some questions remain unresolved. Previous literature questioned whether all…

Abstract

Purpose

In recent years, accrual accounting has become increasingly popular in many governments. Yet some questions remain unresolved. Previous literature questioned whether all governmental assets should be capitalized. Whereas those studies mostly focussed separately on a limited number of assets, such as infrastructure, military assets or heritage assets, the purpose of this paper is to expand these views by taking a holistic approach to their treatment.

Design/methodology/approach

The paper is based on a literature review combined with archival data, being the IPSAS (International Public Sector Accounting Standards).

Findings

The analysis distinguishes between the business and government sectors of the economy and argues that business accounting for assets cannot be applied to the public sector without significant modification. Secondly, within the public sector, it is argued that “businesslike assets” (such as normal buildings and equipment) should be distinguished from “specific governmental assets” (such as art galleries), where the latter should be reported off balance sheet as community assets held in trust by governments for community enjoyment.

Practical implications

The current paper presents a solution for recognizing capital assets in different situations.

Originality/value

The paper reveals some basic differences in points of view between the governmental dimension versus a businesslike dimension in considering capital assets.

Details

Baltic Journal of Management, vol. 7 no. 4
Type: Research Article
ISSN: 1746-5265

Keywords

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Abstract

Details

The Banking Sector Under Financial Stability
Type: Book
ISBN: 978-1-78769-681-5

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Article
Publication date: 1 March 2010

Abstract

Details

Journal of Public Budgeting, Accounting & Financial Management, vol. 22 no. 3
Type: Research Article
ISSN: 1096-3367

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Article
Publication date: 1 February 2021

Mahdi Salehi and Fatemeh Ghasempour

This study aims to assess the influence of material internal control weaknesses (ICWs) on investment in intangible assets, capital structure and commercial risk of…

Abstract

Purpose

This study aims to assess the influence of material internal control weaknesses (ICWs) on investment in intangible assets, capital structure and commercial risk of organizations. Also, it analyses the impact of investment in intangible assets on the presence of material ICWs. This paper expects that ICWs and investment in intangible assets are interactively incorporated.

Design/methodology/approach

The statistical population of this study includes listed firms on the Tehran Stock Exchange during 2012-2017, selected using the systematic elimination method. A total of 588 firms is selected as the final sample of the study. Four hypotheses are developed to meet the study’s objectives and data analysis is carried out using the panel data method in Stata Software.

Findings

Results show that material ICWs have a positive and significant impact on investment in intangible assets and financial leverage. Moreover, this study finds that investment in intangible assets deteriorates the ICWs’ degree. However, the findings show no significant relationship between ICWs and commercial risks of companies.

Originality/value

The current study fills the gap in the literature science; there is no evidence on the subject of the study.

Details

Management Research Review, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2040-8269

Keywords

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