This paper discusses the role accounting had in the financial crisis. It delves into how accounting helped invoke the financial crisis, what impacts the financial crisis is having on accounting and what can be done now. The research method used is literature review. The causes of the financial...

The aim of the Internal Ratings Based Approach (IRBA) of Basel II was that capital suffices for unexpected losses with at least a 99.9% probability. However, because only a fraction of the required regulatory capital (a quarter to a half) had to be loss absorbing capital, the actual solvency...

Acronyms for groups of countries provide an often useful shorthand to capture emergent similarities, and terms such as PIIGS, BRICs and LDCs pervade the lexicon of international and comparative political economy. But they can also lead to misleading narratives, since the grounds for use of these...

After the recent global crisis, corporate scandals and bankruptcy in US and Europe, there is some certain evidence on weak auditing, risk management, accounting and audit system. This paper chooses a different analytical approach and among its aims is to give some systematic opinions on...

The paper argues that capitalism can be analysed in six different periods. These are: the period of commercial capitalism (1500-1750), the periods of the first and second industrial revolutions (1750-1860 and 1870-1914 respectively); the period of capitalist crisis, associated with the world...

This paper is conducted to compare the determinants of profitability of the domestic and foreign Islamic banks operating in Malaysia. The Generalized Least Square (GLS) is employed with unbalanced panel data on seventeen Islamic banks, using quarterly data for the period of 2007 to 2010. In...

In this study, we examine the analysts’ behavior in the pre-crisis and post-crisis period for IPO firms in the U.S. from 2005 to 2011. By controlling variables size, the proxy of underpricing, the number of the IPO firms and whether the company is listed on NYSE or NASDAQ, we investigate the...

This research examines the time-varying conditional correlations to the daily stock index returns. We use a dynamic conditional correlation (DCC) multivariate GARCH model in order to capture potential contagion effects between US and major developed and emerging stock markets during the...

The on-going and seemingly endless financial crisis within the European union in conjunction with the austerity measures implemented by a number of member states, have caused a great deal of speculation to emerge regarding the appropriate policy responses needed to put the already derailed...

The recent international economic and financial crisis has led to a sharp tightening of lending activity. For the banking system the shock was so strong that its ability to lend to the real economy played and still plays a major role in exacerbating the current crisis, which in turn undermines...