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1 – 10 of 611Clause 14 deals with the mechanisms for paying the Contractor. The Contract Price must be distinguished from the Accepted Contract Amount. The Accepted Contract Amount is the…
Abstract
Clause 14 deals with the mechanisms for paying the Contractor. The Contract Price must be distinguished from the Accepted Contract Amount. The Accepted Contract Amount is the amount stated in the Letter of Acceptance. The Contract Price is the Accepted Contract Amount adjusted in accordance with the Contract e.g. through Variations and other changes under Clause 13 [Variations and Adjustments] and the various other Clauses entitling the Contractor to adjustments, including Cost or Cost Plus Profit as well as adjustments under any special agreements on payment based on quantities or measurements, e.g. under Sub-Clause 13.7 [Adjustments for Changes in Cost] or the last paragraph of Sub-Clause 14.1 [The Contract Price].
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Michael Chak Sham Wong, Emil Ka Ho Chan and Imran Yousaf
This paper examines the impact of Central Bank Digital Currencies (CBDCs), regulated stablecoins and tokenized traditional assets on the cryptocurrency market, following the…
Abstract
Purpose
This paper examines the impact of Central Bank Digital Currencies (CBDCs), regulated stablecoins and tokenized traditional assets on the cryptocurrency market, following the guidelines set by the Basel Committee. This study aims to analyze the implications for secure storage, cross-border transfers and necessary investments.
Design/methodology/approach
The paper uses a policy analysis approach to assess the potential effects of the Basel Committee’s regulations on CBDCs, regulated stablecoins and tokenized traditional assets. It explores their impact on the cryptoasset market, strategies of central and commercial banks, payment systems and risk management.
Findings
The adoption of CBDCs, regulated stablecoins and tokenized traditional assets is expected to grow rapidly in the coming years. It raises concerns about secure storage, cross-border transfers and required investments. Central banks are likely to introduce CBDCs and authorize stablecoin issuance, aiming for efficient monetary policies and risk management. Basel III regulations may lead to asset tokenization by banks, reducing asset size and increasing fee-based income.
Originality/value
This paper provides insights into the potential impact of the Basel Committee's regulations on CBDCs, regulated stablecoins and tokenized traditional assets. It contributes to the understanding of the evolving cryptoasset market and the strategies of central and commercial banks in adopting these technologies. The findings offer valuable information for policymakers, regulators and market participants in navigating the changing landscape of digital assets.
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Srivatsa Maddodi and Srinivasa Rao Kunte
The Indian stock market can be tricky when there's trouble in the world, like wars or big conflicts. It's like trying to read a secret message. We want to figure out what makes…
Abstract
Purpose
The Indian stock market can be tricky when there's trouble in the world, like wars or big conflicts. It's like trying to read a secret message. We want to figure out what makes investors nervous or happy, because their feelings often affect how they buy and sell stocks. We're building a tool to make prediction that uses both numbers and people's opinions.
Design/methodology/approach
Hybrid approach leverages Twitter sentiment, market data, volatility index (VIX) and momentum indicators like moving average convergence divergence (MACD) and relative strength index (RSI) to deliver accurate market insights for informed investment decisions during uncertainty.
Findings
Our study reveals that geopolitical tensions' impact on stock markets is fleeting and confined to the short term. Capitalizing on this insight, we built a ground-breaking predictive model with an impressive 98.47% accuracy in forecasting stock market values during such events.
Originality/value
To the best of the authors' knowledge, this model's originality lies in its focus on short-term impact, novel data fusion and high accuracy. Focus on short-term impact: Our model uniquely identifies and quantifies the fleeting effects of geopolitical tensions on market behavior, a previously under-researched area. Novel data fusion: Combining sentiment analysis with established market indicators like VIX and momentum offers a comprehensive and dynamic approach to predicting market movements during volatile periods. Advanced predictive accuracy: Achieving the prediction accuracy (98.47%) sets this model apart from existing solutions, making it a valuable tool for informed decision-making.
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Hend Monjed, Salma Ibrahim and Bjørn N. Jørgensen
This paper aims to examine the association between perceived firm risk and two reporting mechanisms: risk disclosure and earnings smoothing in the UK context.
Abstract
Purpose
This paper aims to examine the association between perceived firm risk and two reporting mechanisms: risk disclosure and earnings smoothing in the UK context.
Design/methodology/approach
This study juxtaposes three competing views, the “null”, the “divergence” and the “convergence” hypotheses, and empirically investigates whether risk disclosure and earnings smoothing affect firm perceived risk for a sample of large UK firms with rich and poor information environments. This study also uses the global financial crisis as an external shock on overall risk in the economy to investigate when and how managers use these two reporting mechanisms to shape the firm perceived risk.
Findings
This paper documents that risk disclosures have no significant effect on investors’ risk perceptions, consistent with risk disclosures containing boilerplate and generic statements about firm risk. This paper also finds that earnings smoothing reduces investors’ risk perceptions, reflecting investors’ interpretations about future firm performance. Additional tests reveal that earnings smoothing is not associated with perceived firm risk for firms with rich information environments and expanded risk disclosures. Furthermore, reporting smooth earnings decreases perceived firm risk following the global financial crisis. These findings are robust to alternative specifications and measures of earnings smoothing as well as post-filing perceived firm risk.
Research limitations/implications
This study does not distinguish between the garbling role and the informational role of earnings smoothing. The risk disclosure measurement used in this study, developed based on UK annual reports, may limit the generalizability of findings to other countries.
Practical implications
The findings suggest that managers should revise their risk disclosure strategies to provide in-depth details on firm risk. Investors might require information and thorough assessment to evaluate investment risks when firms provide generic risk disclosures and smoothed earnings by consulting sources like financial intermediaries. Regulators should keep an eye on firms reporting boilerplate risk disclosures and on how smoothing earnings impacts the firm perceived risk following economic turmoil, to guide interventions that promote market stability.
Originality/value
The findings provide new insights into when and how managers use their financial reporting discretion to make firms appear less risky and, therefore, influence investors’ risk perceptions.
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TAIWAN/CHINA: Business exchanges could fray
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DOI: 10.1108/OXAN-ES289765
ISSN: 2633-304X
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Mirta Casati, Claudio Soregaroli, Gregorio Linus Frizzi and Stefanella Stranieri
Despite the growing interest in blockchain technology (BCT) applications in the agri-food industry, evidence of their economic and strategic implications remains scarce. This…
Abstract
Purpose
Despite the growing interest in blockchain technology (BCT) applications in the agri-food industry, evidence of their economic and strategic implications remains scarce. This study aims to contribute to filling this gap by jointly investigating how BCT adoption affects transactional relationships, and how it contributes to the firm’s strategic resources.
Design/methodology/approach
An explanatory case study is conducted based on a theoretical framework grounded on transaction cost economics and the resource-based-dynamic capabilities view. Six BCT implementations by agri-food firms are studied. Data were collected through semi-structured interviews and analysed using thematic analysis.
Findings
Findings reveal that BCT benefits depend on how companies integrate technology across their supply chains. In fact, the results suggest that overall transaction efficiency within the supply chain is enhanced only for those firms prioritising stakeholder engagement during technology implementation and leveraging existing trust relationships with economic agents. Moreover, the results suggest that BCT is not yet perceived as a strategic resource, but rather that it has the potential to enhance firms’ operational-adaptive, absorptive and innovative capabilities. When all supply chain actors clearly understand blockchain’s functionality and value, the development of these capabilities becomes more pronounced.
Practical implications
The study identifies two BCT adoption configurations. One primarily focuses on enhancing supply chain efficiency and transparency (dynamic BCT), while the other uses BCT mainly for marketing purposes (static BCT). These configurations lead to varied possibilities for leveraging BCT’s potential advantages. Furthermore, they show how a mismatch between a strategic approach and its chosen configuration could work against any positive impact and lead to disillusionment with the BCT. Thus, managers should assess carefully the impact of such different configuration choices on performance.
Originality/value
To the best of the authors’ knowledge, this is the first study to attempt to analyse the economic implications of adopting BCT in the food sector from both a firm and supply chain perspective. Additionally, it shows how interpreting these impacts is contingent on the diverse modalities for embedding BCT into existing supply chains.
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Mustafa Faza', Nemer Badwan and Montaser Hamdan
This study aims to conduct a review and analysis of the literature on Shariah audit compliance by examining the difference between internal and external auditors, the scope of…
Abstract
Purpose
This study aims to conduct a review and analysis of the literature on Shariah audit compliance by examining the difference between internal and external auditors, the scope of internal Shariah audits and the qualification of Shariah auditors.
Design/methodology/approach
The current study used content analysis and the descriptive approach to achieve the main objective of the study. To ensure that Islamic Financial Institutions’ (IFIs) practices preserve Shariah principles and values when providing Shariah-compliant products and services, this audit will be used to supervise and monitor the operations of IFIs. The main goal of Shariah compliance auditing is to protect the interests of IFIs stakeholders, including account holders, shareholders, creditors, management and employees, as well as the general public while ensuring that the mechanisms of checks and balances in place are appropriate and tailored to the goals and missions of its establishment following the Maqasid Al-Shariah.
Findings
The findings of this study attempt to contribute to the body of knowledge surrounding Shariah audit compliance by advising IFIs on the value of Shariah compliance auditing in addressing the needs of its stakeholders. As a result, the benefits of Shariah compliance audits will be maximized, and future legislative changes will be implemented to reduce or completely remove the risk of Shariah’s failure to comply.
Practical implications
This research advises IFIs on the usefulness of Shariah compliance auditing in addressing the demands of its stakeholders to add to the body of knowledge on Shariah audit compliance. Moreover, all parties involved to take action to reduce the gap that will significantly affect stakeholders’ confidence, particularly concerning the Shariah compliance of the IFIs’ products and services on their operations and activities.
Originality/value
The advantages of Shariah compliance audits will thus be maximized, and future regulatory improvements will be made to lessen or eliminate the danger of Shariah noncompliance.
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Ali Vafaei-Zadeh, Davoud Nikbin, Jing Loo and Haniruzila Hanifah
This study aims to investigate the factors that influence the continuance intention to use personal cloud storage services among Generation Y.
Abstract
Purpose
This study aims to investigate the factors that influence the continuance intention to use personal cloud storage services among Generation Y.
Design/methodology/approach
A quantitative online survey was carried out to collect data from 271 respondents. Structural equation modelling with SmartPLS 4.0 software was used to run the analysis and examine the hypothesized relationships in the research model.
Findings
The study revealed that both satisfaction and habit exert a significant influence on continuance intention, whereas self-efficacy does not demonstrate a significant effect. In addition, satisfaction was found to be influenced by confirmation, perceived usefulness and perceived security. Furthermore, confirmation and cloud storage service quality were found to impact perceived usefulness, while confirmation also had an effect on perceived security. However, the hypothesized moderating role of perceived privacy risk in the relationship between perceived usefulness, perceived security and satisfaction was not supported.
Originality/value
This study advances the field by adapting an expanded expectation-confirmation model that delineates the nuanced impacts of habit, user satisfaction and self-efficacy on Generation Y’s continuance intention to use personal cloud storage services. It challenges the conventional wisdom regarding self-efficacy’s influence on technology adoption, offering a more intricate portrayal of its role. This research contributes a distinctive theoretical perspective, emphasizing the complex interplay of factors that inform sustained user engagement with cloud technologies.
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MohammedShakil S. Malek and Viral Bhatt
Managing mega infrastructure projects (MIPs) is more complex because of time, size, social, environmental and financial implications. This study aims to address the management…
Abstract
Purpose
Managing mega infrastructure projects (MIPs) is more complex because of time, size, social, environmental and financial implications. This study aims to address the management approaches, complexity and risk factors involved in MIPs. The study focuses on project success criteria and their individual effects on the success of MIPs.
Design/methodology/approach
To address the challenges and identify the most influencing factor for the success of MIPs, the study deployed a cross-sectional survey approach. Six hundred eighty-two usable samples were collected from the respondents to understand the impact of predetermined factors on the success of MIPs. The structural equation model and artificial neural network approach were used to derive the importance of factors affecting the success of MIPs.
Findings
The study's outcome confirms that all three influencing factors: feasibility studies, community engagements and contract selection, have a significant positive impact on the success of MIPs. Community engagement amongst all three has the most influential predictor for the success of MIPs.
Originality/value
The developed model will enable practitioners and policymakers from Indian construction companies and other emerging nations to concentrate on recognized risk reduction variables to enhance project success criteria and project management success, especially for MIPs.
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