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Author: Robert C. Pozen
Publisher: CFA Institute Research Foundation
ISBN: 194496018X
Category : Business & Economics
Languages : en
Pages : 28
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Book Description
Beginning in 2007, UK public companies were required to issue quarterly, rather than semiannual, financial reports. But the UK removed this quarterly reporting requirement in 2014. We studied the effects of these regulatory changes on UK public companies and found that the frequency of financial reports had no material impact on levels of corporate investment. However, mandatory quarterly reporting was associated with an increase in analyst coverage and an improvement in the accuracy of analyst earnings forecasts.
Author: Robert C. Pozen
Publisher: CFA Institute Research Foundation
ISBN: 194496018X
Category : Business & Economics
Languages : en
Pages : 28
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Book Description
Beginning in 2007, UK public companies were required to issue quarterly, rather than semiannual, financial reports. But the UK removed this quarterly reporting requirement in 2014. We studied the effects of these regulatory changes on UK public companies and found that the frequency of financial reports had no material impact on levels of corporate investment. However, mandatory quarterly reporting was associated with an increase in analyst coverage and an improvement in the accuracy of analyst earnings forecasts.
Author: Michael E. Drew
Publisher: CFA Institute Research Foundation
ISBN: 1944960708
Category : Business & Economics
Languages : en
Pages : 190
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Book Description
Governance is a word that is increasingly heard and read in modern times, be it corporate governance, global governance, or investment governance. Investment governance, the central concern of this modest volume, refers to the effective employment of resources—people, policies, processes, and systems—by an individual or governing body (the fiduciary or agent) seeking to fulfil their fiduciary duty to a principal (or beneficiary) in addressing an underlying investment challenge. Effective investment governance is an enabler of good stewardship, and for this reason it should, in our view, be of interest to all fiduciaries, no matter the size of the pool of assets or the nature of the beneficiaries. To emphasize the importance of effective investment governance and to demonstrate its flexibility across organization type, we consider our investment governance process within three contexts: defined contribution (DC) plans, defined benefit (DB) plans, and endowments and foundations (E&Fs). Since the financial crisis of 2007–2008, the financial sector’s place in the economy and its methods and ethics have (rightly, in many cases) been under scrutiny. Coupled with this theme, the task of investment governance is of increasing importance due to the sheer weight of money, the retirement savings gap, demographic trends, regulation and activism, and rising standards of behavior based on higher expectations from those fiduciaries serve. These trends are at the same time related and self-reinforcing. Having explored the why of investment governance, we dedicate the remainder of the book to the question of how to bring it to bear as an essential component of good fiduciary practice. At this point, the reader might expect investment professionals to launch into a discussion about an investment process focused on the best way to capture returns. We resist this temptation. Instead, we contend that achieving outcomes on behalf of beneficiaries is as much about managing risks as it is about capturing returns—and we mean “risks” broadly construed, not just fluctuations in asset values.
Author: Stephanie Ben-Ishai
Publisher: University of Toronto Press
ISBN: 1487533276
Category : Business & Economics
Languages : en
Pages : 207
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Book Description
The 2017 Home Capital saga represents the shortcomings of a financial system challenged by distinct, siloed regulatory frameworks that fail to communicate with each other. Home Capital is a publicly traded company that acts as a lender through the Home Trust Company, most often providing mortgages to clients rejected by traditional banks. Home Capital’s 2017 announcement that it required $2 billion to sustain a $600-million loss shook customer confidence, and fueled by allegations of corruption, the company suffered a rapid decline in stock price. The Home Capital crisis is the most recent pre-pandemic example of systemic risk in the financial sector in Canada and highlights the invaluable opportunity we have to avoid repeating past mistakes in the nearing post-pandemic economic reality. Using the 2017 Home Capital saga as a starting point, Dangerous Opportunities sheds light on the compartmentalization of regulators and its greater ramifications on board independence and corporate governance, taxation in the competitive housing sector, and the success of non-bank financial institutions in various jurisdictions. A hybrid of law and business, Dangerous Opportunities is a must-read for those interested in the underbelly of financial institutions and is an inspired read in the aftermath of the recent housing crisis, which saw many aspiring homeowners seek dangerous opportunities outside of the traditional banking system.
Author: CFA Institute Research Foundation
Publisher: CFA Institute Research Foundation
ISBN: 1944960422
Category : Business & Economics
Languages : en
Pages :
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Book Description
The Research Foundation Review 2017 summarizes the offerings from the CFA Institute Research Foundation over the past year—books, literature reviews, workshop presentations, and other relevant material.
Author: Baruch Lev
Publisher: John Wiley & Sons
ISBN: 1119191084
Category : Business & Economics
Languages : en
Pages : 384
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Book Description
An innovative new valuation framework with truly useful economic indicators The End of Accounting and the Path Forward for Investors and Managers shows how the ubiquitous financial reports have become useless in capital market decisions and lays out an actionable alternative. Based on a comprehensive, large-sample empirical analysis, this book reports financial documents' continuous deterioration in relevance to investors' decisions. An enlightening discussion details the reasons why accounting is losing relevance in today's market, backed by numerous examples with real-world impact. Beyond simply identifying the problem, this report offers a solution—the Value Creation Report—and demonstrates its utility in key industries. New indicators focus on strategy and execution to identify and evaluate a company's true value-creating resources for a more up-to-date approach to critical investment decision-making. While entire industries have come to rely on financial reports for vital information, these documents are flawed and insufficient when it comes to the way investors and lenders work in the current economic climate. This book demonstrates an alternative, giving you a new framework for more informed decision making. Discover a new, comprehensive system of economic indicators Focus on strategic, value-creating resources in company valuation Learn how traditional financial documents are quickly losing their utility Find a path forward with actionable, up-to-date information Major corporate decisions, such as restructuring and M&A, are predicated on financial indicators of profitability and asset/liabilities values. These documents move mountains, so what happens if they're based on faulty indicators that fail to show the true value of the company? The End of Accounting and the Path Forward for Investors and Managers shows you the reality and offers a new blueprint for more accurate valuation.
Author: Carien van Mourik
Publisher: Routledge
ISBN: 1136243496
Category : Business & Economics
Languages : en
Pages : 495
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Book Description
Financial accounting, reporting and regulation is a vast subject area of huge global importance, with interest rising significantly in the light of the ongoing global financial crisis. The authors begin with a broad overview of the subject of accounting, setting the stage for a discussion on the theoretical and practical issues and debates regarding financial reporting, which are expanded on in the second part of the book. This includes how to define the reporting entity, recognition and measurement of the elements of financial statements, fair values in financial reporting and the costs and benefits of disclosure. The third part assesses the interest, need and theories behind the accounting, reporting and regulation industry, while parts four and five look at the institutional, social and economic aspects; with issues such as accounting for environmental management and, accounting regulation and financial reporting in Islamic countries, both issues of ever increasing importance. This authoritative Companion presents a broad overview of the state of these disciplines today, and will provide a comprehensive reference source for students and academics involved in accounting, regulation and reporting.
Author: Louise Gullifer
Publisher: Bloomsbury Publishing
ISBN: 1509929185
Category : Law
Languages : en
Pages : 1000
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Book Description
The third edition of this acclaimed book continues to provide a discussion of key theoretical and policy issues in corporate finance law. It has been fully updated to reflect developments in the law and the markets. One of the book's distinctive features is its equal coverage of both the equity and debt sides of corporate finance law, and it seeks, where possible, to compare and contrast the two. This book covers a broad range of topics regarding the debt and equity-raising choices of companies of all sizes, from SMEs to the largest publicly traded enterprises, and the mechanisms by which those providing capital are protected. Each chapter provides a critical analysis of the present law to enable the reader to understand the difficulties, risks and tensions in this area, and the attempts by the legislature, regulators and the courts, as well as the parties involved, to deal with them. The book will be of interest to practitioners, academics and students engaged in the practice and study of corporate finance law.
Author: Niklas Sundberg
Publisher: Packt Publishing Ltd
ISBN: 1803241977
Category : Business & Economics
Languages : en
Pages : 418
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Book Description
At a critical point in human history, this book presents proven ways to gain the skills needed to develop sustainable IT practices and set yourself apart as a progressive technology leader Key Features Execute a sustainable IT strategy with proven methods and real-world use cases Progress as a sustainable IT advocate and set yourself apart from other senior IT leaders Increase your chances of receiving executive buy-in on your sustainable IT strategy Book DescriptionWe are at a critical point in human history. Humanity is under threat, but all is not lost. We can take action! But how? Sustainable IT Playbook for Technology Leaders will show you how. It will walk you through the construction and implementation of a sustainable IT strategy and enable you to do your bit for the future of mankind. The book is split into three parts. Part I details the “why” and the clear and present danger that humanity faces today: the climate crisis. How did we get here, what are the immediate threats, what are the planetary boundaries that we need to peel back to safe levels, and what impact does IT have on society at large? Part II will focus on the "what.” It examines the nitty-gritty details of what we can do to unlock significant returns on sustainable investments toward a more sustainable future. Part III, the final part of the book, focuses on the “how.” How do you turn your ideas into action? What do you need to do to establish your baseline and your direction of travel towards your objective? This part provides tangible case studies and explains how you can start your journey today to begin delivering global and impactful objectives. By the end of this book, you’ll be able to plan, implement, and communicate a sustainable IT strategy and set yourself apart as a progressive technology leader.What you will learn Discover why IT is a major contributor to carbon emissions Explore the principles and key methods of sustainable IT practices Build a robust, sustainable IT strategy based on proven methods Optimize and rationalize your code to consume fewer resources Understand your energy consumption patterns Apply a circular approach to the IT hardware life cycle Establish your sustainable IT baseline Inspire and engage employees, customers, and stakeholders Who this book is for This book is for executive IT leaders such as CIOs, CDOs, and CTOs dedicated to influencing, inspiring, and engaging businesses, organizations, and individuals to reduce their carbon footprint through sustainable IT practices.
Author: K. Gugler
Publisher: Edward Elgar Publishing
ISBN: 1848443927
Category : Business & Economics
Languages : en
Pages : 373
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Book Description
This book provides an insightful view of major issues in the economics of corporate governance (CG) and mergers. It presents a systematic update on the developments in the two fields during the last decade, as well as highlighting the neglected topics in CG research, such as the role of boards, CG and public interest and the relation of CG to mergers. Two important conclusions can be drawn from this book: the first is that corporate governance systems that better align shareholders and managers interests lead to better corporate performance; second, there is an important relationship between CG structures and the quality of firm decision-making, one of the most important being the decision to merge or take over another firm. Focusing on some of the often-neglected aspects of corporate governance such as non-profit organizations and public interest, as well as mergers and acquisitions from a CG perspective, this book will be a valuable resource for both academics and postgraduate students of finance, business and economics.
Author: Robert E. Litan
Publisher: American Enterprise Institute
ISBN: 9780844741475
Category : Accounting
Languages : en
Pages : 112
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Book Description
Today's knowledge-based economy requires an entirely new system of assessing the value of companies--a system tapping the vast communication capabilities of the Internet.
