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The purpose of this paper is to investigate the relationship between the share price volatility of Mediterranean banks and their dividend policies, with particular emphasis on the variation of results across sub-samples and the outcomes when omitting outlier observations.

The authors use dividend yield and dividend payout as proxies of dividend policy, and regress these ratios together with other control variables to model volatility. The robustness of the results is assessed by re-using a data set which omits the outliers relating to the aftermath of the 2007 financial crisis and by forming sub-samples using cluster analysis.

The results show that the elimination of outliers and the setting up of sub-samples lead to different inferences about the underlying relationship between dividend policy and volatility. In addition traditional indicators of statistical significance may give the impression of a robust relationship, when this may not be the case.

The paper offers insights to stock traders and corporate managers in terms of better understanding the effect of dividend policies on share price volatility and its related risks and opportunities.

The study presents noteworthy empirical evidence in terms of its rigorous approach towards checking the robustness of results.

The purpose of this paper is to determine and lay out the variables that influence countries to carry out regulatory modernisation of the regulation of the principle of good faith in insurance so as to ensure standardisation of its application and to reduce regulatory asymmetries and uncertainties in the handling of this requirement, given the fast pace of changes in the current ecosystem. Moreover, the authors show whether these variables differ, given the different demographic factors of the respondents participating in this research.

To collect the research data, which consisted of 1,794 valid responses, the authors administered a purposely built survey, which they designed after carrying out and extensive literature search, which yielded 3,248 valid records and resulted in the inclusion of 27 research articles through a scoping review after considering inclusion/exclusion criteria (i.e. the Preferred Reporting Items for Systematic Reviews and Meta-Analysis) search strategy. The authors carried this survey between September 2019 and June 2020 using the social network, verbal and online communication systems. The survey was addressed to persons within insurance associations, professional members, persons within large corporates in the insurance industry and selected experts in the field who were purposely selected based on the work experience held, roles occupied in the industry, qualifications attained and area of expertise. The quantitative data was analysed using statistical tools, specifically descriptive statistics, exploratory factor analysis, Cronbach’s alpha and multiple linear regression. The qualitative data obtained was analysed using the thematic approach.

The authors found that four variables determine the need for modernisation of the principle of utmost good faith requirement, specifically institutional stakeholders and the political-legal framework; the market, consumer influence and the socio-economic environment; socio-technological environment and insurance practice; and international business. Moreover, the authors found that these variables hold relationships with some demographic variables and differ with age, gender, level of education and occupation in a variety of ways.

The statements grouped under the themes determined as influencing factor variables for the need for modernisation of the principle of utmost good faith, can be used by stakeholders such as policymakers and reformists within countries as a measure to determine whether this regulatory requirement is in need of modernisation or it can be used as a model for determining modernisation of other regulations or for the development of other similar models. Moreover, scholars may use this model for other sectors and other regulatory frameworks in different jurisdictions.

Although, the authors have noted several articles about modernisation carried out on regulations, to the best of their knowledge, they have not encountered articles that capture the influencing factor variables for the need for modernisation of the principle of utmost good faith under a group of themes.

This paper aims to determine how forensic accounting contributes to fraud detection and prevention and answer the following research questions: What are the standard techniques for fraud detection and prevention; and What are the significant challenges that hinder the application of forensic accounting in fraud prevention and detection?

The authors use the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) method to carry out a systematic literature review (SLR) to identify and assess the existing literature on forensic accounting.

There exists a positive correlation between forensic accounting and fraud detection and prevention. Moreover, in both the empirical and non-empirical findings, the authors note that fraud is complex, and in carrying out fraud investigations, one must be aware of its complexity.

Although drug counterfeiting is a sector where forensic accountants have paid less attention, it is a rapidly expanding fraud area. This paper finds that to detect fraud at an early stage, one must increase consumer understanding of basic forensic accounting techniques by implementing accurate supply chain monitoring systems and inventory management controls and conducting adequate and effective regulatory, honest and legitimate customs inspections.

The major factors that restrict forensic accounting are a lack of awareness and education. Hence, it is essential to incorporate forensic accounting in undergraduate and post-graduate courses.

From the existing literature, it has been observed that very few studies have been conducted in this field using the PRISMA and SLR techniques. Also, the authors carried out a holistic study that focuses on three different areas – fraud detection, fraud prevention and the challenges in forensic accounting.

The purpose of this paper is to investigate factors that safeguard or hinder the proper use of derivatives, with evidence from active users and controllers of derivatives.

An online panel of 420 users and controllers of derivatives responded to a self‐report questionnaire that was purposely designed for the present study. Exploratory factor analysis was used to guide scale construction and the resulting factor scores were examined overall and across four demographic variables (gender, experience, education, position held with firm).

Factor analysis provided support for the five hypothesised dimensions of proper derivative usage: Risk management controls; Misuse; Expertise; Perception; and Benefits. Summary statistics of the factor scores revealed that the respondents agree that: they are giving proper attention to risk management controls; factors such as greed, politics, inappropriate standards and inadequate controls encourage misuse; they are capable of dealing with derivatives even in complex situations; derivatives are valuable financial instruments; and they are aware of the benefits derivatives provide to firms, when properly handled. However, some respondents reported contrasting views while the respondents' education, position held and experience with derivatives produced a significant impact on the factor scores. The implications of the findings are discussed.

This study provides a better understanding and assessment of five factors that affect the proper use of derivatives and addresses practical recommendations aimed at ensuring that the true values and qualities of the derivative instrument are not obscured.

The purpose of this paper is to bring to light the risk management practices adopted by financial firms in the small island state of Malta. It seeks to: first, identify the risk management strategies and mechanisms that these firms adopt to manage risks, maximise opportunities, and maintain financial stability; second, determine whether these practices are perceived as contributing to principled performance; third, examine the extent to which risk management capabilities offer competitive advantage to firms, and fourth, investigate whether corporate social responsibility (CSR) is a key driver of risk management corporate strategies.

A self-administered questionnaire purposely designed for the present study was distributed among the 156 credit institutions, investment firms and financial institutions registered with the Malta Financial Services Authority. Overall, 141 firms participated in the study (a response rate of 90.4 per cent) and the responses were subjected to statistical analysis in an attempt to answer four research questions.

Maltese financial firms have sound risk management practices that link positively with added value and principled performance. Although competitive advantage has been given less weight by these firms, the implemented risk management mechanisms allow for a strong risk culture, defined risk management goals, accountability and continual improvement. CSR forms part of the firms’ risk management corporate strategies and is valued as part of these firms’ corporate culture, while financial/economic factors are viewed as key in driving effective risk management principles.

The study provides empirical evidence that securing “best practice” in firms’ risk management corporate culture is seen as better predicated on maximising financial advantage (“the instrumental driver”) rather than simply reflecting externally imposed standards (“the compliance driver”).

Empirical research on the relationship between financial inclusion and economic growth has neglected the influence of religion or secularism. This study aims to investigate the effect of financial inclusion on economic growth in religious and secular countries.

The financial inclusion indicators are the number of automated teller machines (ATMs)per 100,000 adults and the number of bank branches per 100,000 adults. These two indicators are the accessibility dimension of financial inclusion based on physical points of service. The two-stage least square (2SLS) regression method was used to analyze the effect of financial inclusion on real gross domestic product (GDP) per capita growth and real GDP growth in religious and secular countries.

Bank branch contraction significantly increases economic growth in secular countries. Bank branch expansion combined with greater internet usage increases economic growth in secular countries while high ATM supply combined with greater internet usage decreases economic growth in secular countries. This study also finds that bank branch expansion, in the midst of a widening poverty gap, significantly increases economic growth in religious countries, implying that financial inclusion through bank branch expansion is effective in promoting economic growth in poor religious countries. It was also found that internet usage is a strong determinant of economic growth in secular countries.

Few studies in the literature examined the effect of financial inclusion on economic growth. But the literature has not examined how financial inclusion affects economic growth in religious and secular countries.

The purpose of this paper is to examine the effects of chronological age and formal and informal learning activities on employability. Furthermore, indirect effects of age on employability via learning activities were tested.

The authors conducted quantitative, cross-sectional survey research (n=780) in three Dutch and Austrian organizations to study the relationship between chronological age, formal and informal learning activities, and employability using structural equation modeling.

The authors find that both formal and informal learning increase employees’ employability. However, each type of learning contributes to different components of employability. Additionally, the authors find indirect effects of chronological age on employability via formal learning.

The results question the focus on chronological age in organizational and political decision making and contribute new insights for the management of an increasingly older workforce.

The findings question the predominant use of chronological age as decisive criterion in organizational and national policies and call for closer examination of stereotypes against older employees. Employees should be supported in pursuing learning activities – irrespective of their chronological age. The implications of limiting employees’ access to formal learning activities may limit their future employability. Individual employees, however, are in control of their informal learning activities, and this is a very important lever to maintain and develop employability.

Given the increasing dependency of social welfare systems on older people's active participation in the labor market, this study stresses that it is not chronological age per se that affects people's employability. This diverges from the way of how chronological age is used in policy making.

This study contributes further evidence for the relationships of age and formal and informal learning on employability. Additionally, it extends previous literature by examining different effects on different facets of employability, criticizing the prevalent use of chronological age, and investigating potential mediation effects.

The purpose of this paper is to examine changes in eight preservice teachers’ professional identity and the factors contributing to such changes during a four-week block practicum.

A qualitative case study design was used and the data were gathered through semi-structured interviews with preservice teachers and their mentors, reflective journals and observation checklists. Thematic analysis was used to interpret the data.

The findings showed high levels of confidence and development of teacher voice by the end of their four-week block practicum. The findings also suggested that positive mentoring relationships contributed to changes in the preservice teachers’ teacher identity.

Despite focussing on a relatively small number of preservice secondary teachers during the first four-week practicum of a single teacher education program at a Western Australian University, this research highlights the need to maintain constructive mentoring relationships with preservice teachers to provide positive influences on their professional identity. In order to facilitate this, preservice teacher education programs should provide thorough training for mentor teachers.

This work highlighted the crucial role of mentor teachers in creating positive impacts on preservice teachers’ professional identity, such as development of their confidence and teacher voice. This paper provides useful insights for researchers, mentor teachers, and preservice teacher education policy developers.