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1 – 10 of over 53000
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 arbitrage…

6402

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

Keywords

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 resources (e.g…

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

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 not…

4134

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

Keywords

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 financial…

6362

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

Keywords

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…

1282

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

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 tangible…

4785

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

Keywords

Article
Publication date: 13 June 2023

Hongyun Han and Fan Si

This article aims to examine the role of capital assets in rural household poverty transitions of poverty escape and poverty descent over periods of 2014–2016 and 2016–2018.

Abstract

Purpose

This article aims to examine the role of capital assets in rural household poverty transitions of poverty escape and poverty descent over periods of 2014–2016 and 2016–2018.

Design/methodology/approach

Based on the sustainable livelihood approach, this paper uses binary logit model to explore the influence of multidimensional capital assets on poverty transitions and use instrumental variable estimation to solve the endogeneity between total net asset and poverty transitions.

Findings

Capital assets have significant impacts on household poverty transitions. The role of capital assets in households' poverty escape and poverty descent are not symmetrical. The authors verify that rural households with rich total net asset are more likely to escape poverty and less likely to descend into poverty by using instrumental variable estimation. The authors verify that there is a mediation effect that total net asset can help households' escaping poverty and prevent them from falling into poverty through promoting rural households to engage in business activities.

Originality/value

This paper is the first to explore how capital assets affect poverty transitions in rural China based on the sustainable livelihood approach. The findings of this research can provide valuable policy implications for the pursuit of common prosperity in China and references for other developing countries.

Details

China Agricultural Economic Review, vol. 15 no. 3
Type: Research Article
ISSN: 1756-137X

Keywords

Article
Publication date: 1 March 2010

5405

Abstract

Details

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

Article
Publication date: 1 April 2017

Yaotai Lu

U.S. state governments own a large array of fixed assets and lease a great number of parcels of private real properties for public uses. The purpose of this paper is to explore…

Abstract

U.S. state governments own a large array of fixed assets and lease a great number of parcels of private real properties for public uses. The purpose of this paper is to explore the public asset management system of the U.S. state governments. First, this paper analyzes the major, current public asset management systems and the public procurement systems created by the Organization for Economic Co-operation and Development and the U.S. Government Accountability Office. Based on the analysis, this paper constructs a comprehensive public asset management system that consists of six cornerstones. Second, this paper verifies the comprehensive public asset management system using the data collected from thirty-seven surveyed state governments. The data analysis demonstrates that the comprehensive public asset management system is supported. However, each cornerstone of the comprehensive public asset management system presents different strengths. Third, this paper suggests that further research may delve into particular areas of capital asset management at the state government level to identify critical issues and to provide appropriate resolutions.

Details

Journal of Public Procurement, vol. 17 no. 4
Type: Research Article
ISSN: 1535-0118

Article
Publication date: 29 October 2021

Xiaoheng Wang and Can Chen

The main purpose of this paper is to examine the political, economic and institutional determinants of capital assets condition ratio in American local governments using…

Abstract

Purpose

The main purpose of this paper is to examine the political, economic and institutional determinants of capital assets condition ratio in American local governments using government-wide financial statements.

Design/methodology/approach

Based on capital assets data from the period of 2011–2016 for the 66 Florida counties as reported on their government-wide financial statements, the authors use a panel two-way fixed effects estimation and a dynamic panel generalized method of moments estimation.

Findings

The authors find that social-economic factors, fiscal capacity and democratic voters explain the capital assets condition ratio in Florida county governments.

Research limitations/implications

The major findings of this study may only apply to county government in one single state. It may raise the issue of the external validity of our research. It provides policy recommendations for local public officials to maintain and upgrade their capital assets.

Originality/value

The study utilizes a new approach of capital assets condition ratio to measure county government investment in capital assets based on the government-wide financial statements.

Details

Journal of Public Budgeting, Accounting & Financial Management, vol. 34 no. 2
Type: Research Article
ISSN: 1096-3367

Keywords

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