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1 – 4 of 4Emile Tompa, Amirabbas Mofidi, Arif Jetha, Pamela Lahey and Alexis Buettgen
To develop a framework for estimating the economic benefits of an accessible and inclusive society and implement it for the Canadian context. The framework measures the gap…
Abstract
Purpose
To develop a framework for estimating the economic benefits of an accessible and inclusive society and implement it for the Canadian context. The framework measures the gap between the current situation in terms of accessibility and inclusiveness, and a counterfactual scenario of a fully accessible and inclusive society.
Design/methodology/approach
The method consists of three steps. First, the conceptual framework was developed based on a literature review and expert knowledge. Second, the magnitudes for each domain of the framework was estimated for the reference year 2017 using data from various sources. Third, several sensitivity analyses were run using different assumptions and scenarios.
Findings
It was estimated that moving to a fully accessible and inclusive society would create a value of $337.7bn (with a range of $252.8–$422.7bn) for Canadian society in the reference year of 2017. This is a sizeable proportion of gross domestic product (17.6%, with a range of 13.1–22.0%) and is likely a conservative estimate of the potential benefits.
Originality/value
Understanding the magnitude of the economic benefits of an accessible and inclusive society can be extremely useful for governments, disability advocates and industry leaders as it provides invaluable information on the benefits of efforts, such as legislation, policies, programs and practices, to improve accessibility and inclusion of persons with disabilities. Furthermore, the total economic benefits and the benefits per person with a disability can serve as inputs in economic evaluations and impact assessments.
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Xinyi Huang, Fei Teng, Yu Xin and Liping Xu
This paper aims to study the effect of the establishment of bankruptcy courts on bond issuance market. This paper helps to predict that the introduction of bankruptcy courts in…
Abstract
Purpose
This paper aims to study the effect of the establishment of bankruptcy courts on bond issuance market. This paper helps to predict that the introduction of bankruptcy courts in China can mitigate price distortions caused by the implicit government guarantees and promote the development of the high-risk bond market.
Design/methodology/approach
This paper exploits the staggered introduction of bankruptcy courts across cities to implement a differences-in-differences strategy on bond issuance data. Using bonds issued in China between 2018 and 2020, the impact of bankruptcy courts on the bond issuance market can be analyzed.
Findings
This paper reveals that bond issuance credit spreads increase and is more sensitive to firm size, profitability and downside risk of issuance entity after the introduction of bankruptcy courts. It also reveals a substantive increase in bond issuance quantity and a decrease in issuer credit ratings following the establishment of bankruptcy courts. In addition, the increase of credit spreads is more prominent for publicly traded bonds, those whose issuers located in provinces with lower judicial confidence, bonds issued by SOEs and bonds with stronger government guarantees. Finally, the role of bankruptcy courts is more pronounced in regions with higher marketization.
Originality/value
This paper relates to previous studies that investigate the impact of laws and institutions on external financing. It helps provide new evidence to this literature on how improvements of efficiency and quality in bankruptcy enforcements relate to the marketization of bond issuance. The results provide further evidence on legal institutions and bond financing.
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The purpose of this paper is to analyse the main components of the regulatory framework for Islamic banking in Mauritius. This small island state of the Indian Ocean aspires to…
Abstract
Purpose
The purpose of this paper is to analyse the main components of the regulatory framework for Islamic banking in Mauritius. This small island state of the Indian Ocean aspires to host Islamic banking products while diversifying the range of financial services offered within its hybrid jurisdiction despite having a minority Muslim population. The study also aims at drawing some comparisons with the well-established regulatory framework that applies to conventional banking.
Design/methodology/approach
In this qualitative analysis of the regulatory framework of Islamic banking in Mauritius, the doctrinal approach is adopted. This method relies principally on a scrutiny of the provisions of the law and delves into the primary and secondary sources of law guiding Islamic banking practices in the Mauritian jurisdiction.
Findings
The research study concludes that, with the view of encouraging investors into Islamic banking, policymakers took some regulatory initiatives but these remained timid. These initiatives relied too often on borrowing from the regulatory framework in place for conventional banking practices instead of regulating the area within its own precepts. Prospects for expanding Islamic banking exist but will require more audacious regulatory steps so as to secure the environment within which Islamic banking is to flourish. In the meantime, the industry is in a status quo position with no further legal action currently being envisaged to re-launch this area.
Originality/value
This research study is among the first generated specifically on the regulatory framework of Islamic banking in a small financial centre that operates mostly offshore financial activities. Previous research work either focused on the empirical analysis or on reviewing the challenges and the prospects but no study has provided an in-depth analysis of the regulatory provisions circumscribing Islamic banking. This lacuna is being filled up by this research paper which highlights the regulatory needs of Islamic banking and comments on the inclusion of and the need for specific rules related to Islamic finance instead of relying on the overlap with conventional banking laws.
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Fernanda Leão and Delfina Gomes
In the context of Portugal, this study examines the stereotypes of accountants held by laypeople and how they are influenced by financial crises and accounting scandals.
Abstract
Purpose
In the context of Portugal, this study examines the stereotypes of accountants held by laypeople and how they are influenced by financial crises and accounting scandals.
Design/methodology/approach
To better understand the social images of accountants, the authors adopt a structural approach based on the big five model (BFM) of personality. The authors test this approach on a Portuguese community sample (N = 727) using a questionnaire survey. The results are analyzed considering the socioanalytic theory.
Findings
The results suggest the existence of a stereotype dominated by features of conscientiousness, which is related to the superior performance of work tasks across job types. This feature comprises the core characteristics of the traditional accountant stereotype, which survives in a context challenged by financial scandals and crises. The findings highlight the social acceptance of accountants as an occupational group but do not suggest the possibility of accountants benefiting from the highest levels of social status when considered in relation to the traditional accountant stereotype.
Originality/value
By combining the BFM and the socioanalytic theory, this study provides a unique theoretical approach to better understand the social images of accountants. The findings demonstrate the suitability of using the BFM to study the social perceptions of accountants. They also indicate a paradox based on the survival of the traditional stereotype. This stereotype appears to be resistant to scandals and financial crisis, instead of being impaired, giving rise to another prototype with concerns about integrity.
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