This study sheds new light on the cross-sectional effects of inflation, which have substantial implications for stock valuation. I use financial statement analysis to examine systematic stock-valuation effects of aggregate price-level changes on individual companies, focusing on the implications...

This paper explores the influences of the approved results of loans cases, the loan applicants’ socioeconomic attributes in the decision of perusal loan. The results can improve the credit quality and avoid the misjudgment of screening personal loan customers and also establish a better...

Insurance Industry is going through a very important stage of its transformation - the transition from the classical system of management into a risk-based management. These changes were launched in Europe by international organizations which deal with the development of the necessary...

The paper elaborates some analytical opportunities for econophysics in the implementation of Basel II documents for banking. We see this chances by reviewing some methodologies proposed by the econophysicists in the three important aspects of risk management: the market risk, credit risk, and...

In this article attempt has been made to analyze the Benazir Income Support Program (BISP) announced by the present regime and donors’ funds disbursement. The main objective of the article is to suggest the best possible transparent way of disbursing funds allocated by the Government as well...

Small and medium enterprises are becoming increasingly important for the creation and development of a modern, dynamic and knowledge-based economy. This is because of their capacity to promote entrepreneurship and entrepreneurial skills, and because of their ability to be flexible and adapt...

This paper presents a modelling framework for analysis of financial derivatives. The framework analyzes the derivative from the perspective of a producer who has uncertain quantity of production. Quantity has a statistical relationship to an index number, or risk factor, and the producer can buy...

This paper studies trading volume of 206 recorded and publicly traded bonds in Indonesian Capital Market on January 4th – March 9th 2009 observed period. The data covers almost all trading data in the market and all brokers that exist. The microstructure data used in this study is a complete...

This paper investigates whether foreign institutional investors in emerging markets can enhance shareholder value. We pay special attention to two dimensions of investor heterogeneity: whether an investor declares itself as an activist, and whether an investor comes from a country with a strong...

We document the changes of corporate design of modern Specified Purpose Acquisition Companies (SPACs) from 2003 to 2012. We assign the impact on changes of SPACs to each of the three groups of stakeholders: founders, investors and underwriters and test whether institutional characteristics of...