Welcome to this edition of the Journal of Law and Financial Management (JLFM). Now in its 12th year, JLFM continues to provide a forum for the publication of research and analysis focused on the nexus of the general disciplinary areas of law (primarily business and commercial law) and financial...

At the time of writing, it appears that the global economic system is in the grips of a massive shock. Debt capital markets are not functioning as they have functioned over the past half decade, liquidity is tight and credit, where it can be obtained, is becoming increasingly costly. Though the...

This year marks the 6th anniversary of the Journal of Law amp; Financial Management. The journal was founded in the immediate aftermath of the dot com crash and in an atmosphere of high turbulence and uncertainty. A series of large scale corporate collapses and revelations of accounting fraud,...

This paper examines the risk/return performance of European bank stocks before and after the implementation of the minimum capital requirements under the Basel Accord of 1988. We compare the performance of banks in Belgium, Denmark, Germany, Ireland, Italy, the Netherlands, Scandinavia,...

This paper examines the profit quality of a goodwill-intensive firm, Transpacific Industries Group Limited (ASX.TPI), by specifically focusing on critical judgments and disclosures relating to goodwill impairment. The term quot;profit qualityquot; is synonymous with terms such as quot;creative...

An increase in the credit rating on the debt of an organisation is generally perceived positively, as higher credit ratings are, in the main, associated with lower perceived volatility in the market value of the assets of the entity that has issued debt. Lower asset volatility implies more...

The adoption of A-IFRS has resulted in the introduction of fundamental changes to the Australian accounting and reporting regime for goodwill. The impairment testing led approach to goodwill reporting required under A-IFRS results in a materially different approach to goodwill valuation for...