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The purpose of this paper is to enrich the scientific and managerial debate on intangibles by placing the concept of key money within the broader concept of Intellectual Capital, and by proposing an evaluation approach for a portion of the latter, focusing the analysis on fashion retailers.

This research focuses on the fashion industry, given that key money gains particular significance and accounted for in fashion retailers' financial statements. A comparative case study is presented with regard to the application of two evaluation methods proposed to some fashion retailers operating in Italy.

This paper defines a suitable placement for key money within the vast structure of intellectual capital. The research shows that the two methods give “very close” key money values, thus laying the foundations for a theoretical articulation of interest to be further explored in future researches.

The document represents a first in-depth examination regarding the evaluation and inclusion of key money in the intellectual capital. A further element of originality lies in having interpreted the key money in a perspective closer to the world of intangibles and competitive strategies, to the detriment of the previous (meagre) settings that placed it within the real estate branches of study.

Money laundering continues to emerge as a transnational phenomenon that has harmful consequences for the global economy and society. Despite the theoretical and practical magnitude of money laundering, international business (IB) research on the topic is scarce and scattered across multiple disciplines. Accordingly, this study aims to advance an integrated understanding of money laundering from the IB perspective.

The authors conduct a systematic review of relevant literature and qualitatively analyze the content of 57 studies published on the topic during the past two decades.

The authors identify five streams (5Cs) of research on money laundering in the IB context: the concept, characteristics, causes, consequences and controls. The analysis further indicates six theoretical approaches used in the past research. Notably, normative standards and business and economics theories are dominant in the extant research.

The authors review the literature on an under-researched but practically significant phenomenon and found potential for advancing its theoretical foundations. Hence, the authors propose a 5Cs framework and a future agenda for research and practice by introducing 21 future research questions and two plausible theories to help study the phenomenon more effectively in the future.

In practical terms, the study extends the understanding of the money laundering phenomenon and subsequently helps mitigating the problem of money laundering in the IB environment, along with its harmful economic and societal impacts.

The authors offer an integrative view on money laundering in the IB context. Additionally, the authors emphasize wider discussions on money laundering as a form of mega-corruption.

The purpose of this study is to review the literature on money laundering and its related areas. The main objective is to identify any gaps in the literature and direct attention towards addressing them.

A systematic review of the money laundering literature was conducted with an emphasis on the Pro-Quest, Scopus and Science-Direct databases. Broad research themes were identified after investigating the literature. The theme about the detection of money laundering was then further investigated. The major approaches of such detection are identified, as well as research gaps that could be addressed in future studies.

The literature on money laundering can be classified into the following six broad areas: anti-money laundering framework and its effectiveness, the effect of money laundering on other fields and the economy, the role of actors and their relative importance, the magnitude of money laundering, new opportunities available for money laundering and detection of money laundering. Most studies about the detection of money laundering have focused on the use of innovative technologies, banking transactions or real estate- and trade-based money laundering. However, the literature on the detection of shell companies being explicitly used to launder funds is relatively scarce.

This paper provides insights into an area related to money laundering where research is relatively scant. Shell companies incorporated in the UK alone were identified to be associated with laundering £80bn of stolen money between 2010 and 2014. The use of these entities to launder billions of dollars as witnessed through the laundromat schemes and several data leaks clearly indicate the need to focus on illicit financial flows through such entities.

This paper aims to examine association of money demand with key macroeconomic variables in Pakistan. The paper also investigates the asymmetric effect of real effective exchange rate (REER) on money demand.

The study employs both linear autoregressive distributed lag (ARDL) and non-linear autoregressive distributed lag (NARDL) model. Annual data from 1970 to 2018 is used which is subjected to non-linearity through partial sum concept. Empirical analysis is conducted to prove if money demand is influenced by currency appreciation or depreciation, for long and short run.

Cointegration test indicates existence of a long-run relationship between money demand and its determinants. Results from NARDL model suggest negative relation between money demand and inflation in long and short run. Real income shows positive but a very minimal and insignificant effect on money demand in long and short run. Impact of call money rates is statistically significant and negative on M1 and M2. Wald tests and differing coefficient sign confirm presence of asymmetric relation of REER in long run with M2, whereas in short run we observe a linear, symmetrical relation of REER with M1 and M2. Stability diagnostic tests (CUSUM and CUSUMSQ) verify stability of M2 demand model in Pakistan.

Results signify that role of money demand is imperative as a monetary policy tool and it can be utilized to achieve objective of price stability. Additionally, exchange rate movements should be critically examined by monetary authorities to avoid inflationary pressures resulting from an increase in demand for broad monetary aggregate.

The paper contributes to scarce monetary literature on asymmetrical effects of exchange rate in Pakistan. Impact of variables has been studied through linear approach, but this paper is unique since it attempts to explore non-linear relationships.

The aim of this paper is to outline some key features of China's new rules on anti‐money laundering.

This paper describes the expanded definition of “anti‐money laundering”; the application of the rules to a broader group of financial institutions; the three required anti‐money laundering systems (client identity recognition, retention of client identity documents and trading records, and reporting of large‐sum transactions and suspicious transactions); the expected manner of anti‐money laundering investigations by the People's Bank of China; liabilities for breach; and anti‐money laundering regulations in the insurance and securities sectors.

The paper finds that new anti‐money laundering rules expand the definition of “anti‐money laundering” broaden the scope of institutions to which anti‐money laundering regulations apply, and establish more stringent requirements for the three key internal anti‐money laundering systems that financial institutions and certain non‐financial institutions must have: client identity recognition, retention of client identity documents and trading records, and reporting of large‐sum transactions and suspicious transactions. Compared to the old rules, the new anti‐money laundering rules impose more serious punishment on violations.

The paper provides a detailed and readable reference on the new Chinese anti‐money laundering regulations for those working in the China market and those who wish to compare these Chinese regulations with similar ones in other countries.

This study aims to present a novel examination of actor value formation (AVF) in the sharing economy by uncovering its key dimensions (i.e. information seeking, personal interaction and feedback) at each stage of Airbnb consumption. Using multi-source data, how the key dimensions of AVF affect consumers’ evaluative judgment capturing the key aspects of consumption experiences (i.e. communication quality, value for money and overall evaluations) was empirically tested.

This study adopted a triangulated, multi-study approach to test and validate the hypotheses. In Study 1, the authors analyzed 586,778 online reviews through deductive and inductive approaches to determine how three AVF dimensions could be captured and examine these dimensions’ effects on consumers’ evaluative judgments. In Study 2, an online survey was adopted to improve the reliability and validity of findings.

This study identified positive and negative outcomes of AVF. The results also revealed which AVF dimensions significantly led to communication quality and value for money, which in turn influenced consumers’ overall evaluations. The findings further provided robust support for the mediating role of value for money as a mechanism in the relationships between AVF and overall evaluations across the two studies.

This study contributes to the literature by empirically identifying the three key dimensions of AVF in each consumption stage and subsequently testing a conceptual model using different data, research methods and analytical techniques to cross-validate the results. The authors also extended the scope of AVF by integrating both positive and negative aspects in the context of Airbnb.

This study aims to examine the possibility of laundering money through the United Arab Emirates (UAE), the perceived risk and the stark reality. That money laundering prevention mechanisms are being circumvented is evident by reference to the international assessments by the Financial Action Task Force and information from key informants. To develop effective improvements, the modus operandi of money laundering needs to be re-examined.

The empirical findings are based on over 60 semi-standardized interviews with alleged criminal and expert compliance officers operating in an international arena. These findings were subject to a qualitative content analysis, while a further quantitative survey of around 200 compliance officers expanded on the techniques of money laundering. This served to explore whether there was a discrepancy between the presentation of money laundering in the literature in contrast to reality.

Owing to the transnational nature of money laundering, the global financial market is dependent on the uniformity of anti-money laundering (AML) regulations. Despite immense progress, there are still several key weaknesses in the financial system of the UAE, such as the existence of Free Zones and the divergence of AML awareness.

The scope of the interviews is limited to the personal experience of the informants. This is mediated by seeking uniformity in answers as well as literature support.

This paper, supported by empirical evidence, discerns why the current regulatory measures are minimally effective. There is an unmistakable need for the international coordination of financial regulatory bodies. The literature describes the occurrence of money laundering, but no studies have engaged to examine the pragmatic mechanism in place which allow money laundering to persevere despite the significant improvements of AML policies.

This paper assesses the significance and impact of the Criminal Justice Act 1993 and the Money Laundering Regulations in the context of previous legislation and examines the extent to which the law has been strengthened by the new legislation. It also highlights the major international initiatives which have been responsible for exposing the extent of the money‐laundering phenomenon and which have helped shape the present legislative framework. The banking and financial system is finding itself in the front line of the war being waged internationally against money launderers. Traditional concepts of banking secrecy are being undermined as governments struggle to preserve the integrity of the banking system. The war is on a vast scale. The Financial Action Task Force (created in 1989 by the seven major industrial nations and the President of the European Commission) estimated that the amount of money being laundered through the financial system was US$85bn per year. The extent of the problem was recognised in the International Narcotics Control Strategy Report for 1993 which found that eight of the world's major money‐Iaundering states are located in Europe. Europe has responded to the growing crisis in the financial sector with the Money Laundering Directive which was due to be fully implemented across the Community by 1st January, 1993. The directive, which applies to credit institutions and financial institutions, including Community‐based branches of non‐Community institutions, reflects a number of key international initiatives and attempts to harmonise the anti‐laundering legislation of the Member States, though with varied success. This paper outlines the directive and its antecedents, before tracing the considerable developments within the UK since the Drug Trafficking Offences Act 1986, which marked the beginning of the Government's campaign to deprive criminals of the fruits of their crime, culminating in the Criminal Justice Act 1993 (CJA 1993). The secondary legislation is also analysed, in the form of the Money Laundering Regulations (the ‘Regulations’), which came into effect on 1st April, 1994. The CJA 1993 introduces and defines the ambit of the new money‐laundering offences, whilst the Regulations clarify the procedures which must be adopted by anyone carrying on ‘relevant financial business’. For the sake of brevity the focus has been only on the position in England and Wales, since Scotland and Northern Ireland are governed by different statutes.