The Causes and Financial Consequences of Corporate Frauds

Author(s):  
Stefano Bonini ◽  
Diana Boraschi-Diaz
2021 ◽  
pp. 135481662110278
Author(s):  
Ling-en Wang ◽  
Bing Tian ◽  
Viachaslau Filimonau ◽  
Zhizhong Ning ◽  
Xuechun Yang

The COVID-19 pandemic has made a detrimental impact on various tourism subsectors. The financial consequences of this impact should be carefully evaluated to set benchmarks for industry recovery. This study assessed the financial impact of the pandemic on the tourism subsector of visitor attractions in China; 4222 A-grade visitor attractions accounting for over one-third of the national market were surveyed. Data triangulation was subsequently applied to undertake a comprehensive assessment of potential revenue loss. Triangulation was based upon the (1) lost revenue estimates made by tourist attractions’ administrations, (2) reverse estimation of past macroeconomic data, and (3) expert opinion estimates. The assessment results demonstrated that A-grade visitor attractions in China may have lost up to 140 billion RMB (circa US$21 billion) due to COVID-19, with up to 65% of all losses incurred in the first quarter of 2020. The scale of revenue loss varied significantly depending on visitor attraction’s grade, type, and location. Potential strategies for industry recovery are discussed.


1991 ◽  
Vol 59 (3) ◽  
pp. 244-256 ◽  
Author(s):  
TREVOR W. CHAMBERLAIN ◽  
MYRON J. GORDON

Dementia ◽  
2021 ◽  
pp. 147130122110093
Author(s):  
Melanie Bayly ◽  
Megan E. O’Connell ◽  
August Kortzman ◽  
Shelley Peacock ◽  
Debra G. Morgan ◽  
...  

Individuals with young onset dementia and their families face unique challenges, such as disruptions to their life cycle and relationships and a dearth of appropriate supports. Financial consequences have also been noted in the literature yet have not been explored in-depth. The purpose of this research was to qualitatively explore carers’ experiences of financial consequences resulting from the young onset dementia of a family member and how these consequences may be managed. Eight carers (7 women and 1 man) provided a written online narrative about their journey with young onset dementia and any financial consequences experienced, with open-ended prompts to elicit details not yet shared. Narratives were inductively coded and analyzed using a thematic narrative approach. Carers described a voluntary or involuntary end to employment for the person with young onset dementia around the time of diagnosis. This engendered ongoing and anticipated financial consequences, combined with the need for carers to balance employment with the provision of care (which often meant early retirement for spousal carers). Common themes were tension between the needs to provide care and earn income, altered financial prospects, costs of care, and lack of available and accessible supports to ameliorate financial consequences. Findings illustrate the reality of financial consequences across the trajectory of young onset dementia. These consequences may manifest differently for spousal and child carers and are not being adequately addressed by existing supports.


2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Antonio Salvi ◽  
Nicola Raimo ◽  
Felice Petruzzella ◽  
Filippo Vitolla

PurposeThe purpose of this paper is to analyse the financial consequences of the level of human capital (HC) information disclosed by firms through integrated reports. Specifically, this work examines the effect of HC information on the cost of capital and firm value.Design/methodology/approachA manual content analysis is used to measure the level of HC information contained in integrated reports. A fixed-effects regression model is used to analyse 375 observations (a balanced panel of 125 firms for the period 2017–2019) and test the financial consequences of HC disclosure.FindingsThe empirical outcomes indicate that HC disclosure has a significant and negative effect on the cost of capital and a positive impact on firm value. Our results show that companies can reduce investors' perceived firm risk by improving HC disclosure, leading to a lower cost of capital. Moreover, our findings support the notion that increased levels of HC disclosure are linked to firms' improved access to external financial resources, consequently enhancing firm value.Originality/valueThis study is the first contribution to examine the financial consequences of HC disclosure and is one of the first to examine the level of HC information within integrated reports.


2018 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mampe Kumalo ◽  
Caren Brenda Scheepers

PurposeOrganisational decline has far-reaching, negative emotional and financial consequences for staff and customers, generating academic and practitioner interest in turnaround change processes. Despite numerous studies to identify the stages during turnarounds, the findings have been inconclusive. The purpose of this paper is to address the gap by defining these stages, or episodes. The characteristics of leaders affect the outcome of organisational change towards turnarounds. This paper focusses, therefore, on the leadership requirements during specific episodes, from the initial crisis to the full recovery phases.Design/methodology/approachA total of 11 semi-structured interviews were conducted with executives from the public sector in South Africa who went through or were going through turnaround change processes and 3 with experts consulting to these organisations.FindingsContrary to current literature in organisational change, this study found that, in these turnaround situations, leadership in the form of either an individual CEO or director general was preferable to shared leadership or leadership distributed throughout the organisation. This study found four critical episodes that occurred during all the public service turnarounds explored, and established that key leadership requirements differ across these episodes. The study shows how these requirements relate to the current literature on transactional, transformational and authentic leadership.Practical implicationsThe findings on the leadership requirements ultimately inform the selection and development of leaders tasked with high-risk turnaround change processes.Originality/valueFour episodes with corresponding leadership requirements were established in the particular context of public sector turnaround change processes.


ECONOMICS ◽  
2015 ◽  
Vol 3 (1) ◽  
pp. 125-133 ◽  
Author(s):  
Nenad Spasojević

Rezime E - uprava je potpuno obavljanje poslova uprave elektronskim putem bez upotrebe papira, ali ne samo to već i više od proste informatizacije rutinskih poslova uprave. E - uprava je način na koji vlade koriste tehnologije da bi građanima obezbedile jednostavniji i brži pristup informacijama i uslugama. Pomoću E - uprave postiže se kvalitet usluga koje obavlja javna uprava i omogućava se građanima da lakše uzmu učešće u radu demokratskih institucija. Korištenjem ovih tehnologija u svom radu uprava postaje efikasnija, pouzdanija i jeftinija. Sve razvijene zemlje odlučuju se za uvođenje e - uprave koja se nameće kao preduslov za brz napredak i razvoj u XXI veku.


2021 ◽  
Vol 12 ◽  
Author(s):  
Abdelaziz Alsharawy ◽  
Ross Spoon ◽  
Alec Smith ◽  
Sheryl Ball

The COVID-19 pandemic has led many people to suffer from emotional distress. Previous studies suggest that women process and express affective experiences, such as fear, with a greater intensity compared to men. We administered an online survey to a sample of participants in the United States that measures fear of COVID-19, perceptions about health and financial risks, and preventative measures taken. Despite the empirical fact that men are more likely to experience adverse health consequences from COVID-19, women report greater fear and more negative expectations about health-related consequences of COVID-19 than men. However, women are more optimistic than men regarding the financial consequences of the pandemic. Women also report more negative emotional experiences generally during the pandemic, particularly in situations where other people or the government take actions that make matters worse. Though women report taking more preventative measures than men in response to the pandemic, gender differences in behavior are reduced after controlling for fear. These results shed light on how differences in emotional experiences of the pandemic may inform policy interventions.


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