scholarly journals The demographic profile of victims of investment fraud

2014 ◽  
Vol 21 (2) ◽  
pp. 226-242 ◽  
Author(s):  
Mark E. Lokanan
Keyword(s):  
Significant Proportion ◽  
Securities Regulation ◽  
Time Data ◽  
Content Type ◽  
Demographic Profile ◽  
Demographic Profiles ◽  
Securities Industry ◽  
First Time ◽  
Investment Fraud ◽  
Practical Implications

Purpose – The purpose of this study is to examine the demographic characteristics of investors who have been victims of investment fraud in Canada from 1984 to 2008. Design/methodology/approach – Data for this study come from the Investment Dealers Association's tribunal cases that were decided between 1984 and June of 2008. The cases were retrieved from the Securities Regulation Tribunal Decisions database in Quicklaw. Data were collected to examine the demographic profiles of the investors. Findings – The findings indicate that the victims were not particularly rich and a significant proportion borrowed money and opened margin accounts to invest. Those most vulnerable were investors who were retired and had limited investment knowledge. Many also dipped into their savings to fund their future retirement needs. Practical implications – The study is useful for regulators in the securities industry because it paints a demographic portrait of the investors who are more vulnerable to investment fraud. Thus, as part of their investors' education mandate, regulators can tailor their fraud prevention programs to the needs of specific subsets of investors. Originality/value – This is the first study of its kind in Canada that provides a detailed demographic profile of victims of investment fraud. For the first time, data are available to show the occupational classifications, types of accounts and investment objectives of investors who were victims of investment fraud.

Large-cap vs small-cap portfolio performance: new empirical evidence from ETFs

2019 ◽  
Vol 18 (1) ◽  
pp. 71-94
Author(s):  
Gerasimos Rompotis
Keyword(s):  
Design Methodology ◽  
Portfolio Performance ◽  
Exchange Traded Funds ◽  
Investment Strategies ◽  
Time Data ◽  
Content Type ◽  
Risk Characteristics ◽  
The Usa ◽  
First Time ◽  
Practical Implications

PurposeA well-documented pattern in the literature concerns the outperformance of small-cap stocks relative to their larger-cap counterparts. This paper aims to address the “small-cap versus large-cap” issue using for the first time data from the exchange traded funds (ETFs) industry.Design/methodology/approachSeveral raw return and risk-adjusted return metrics are estimated over the period 2012-2016.FindingsResults are partially supportive of the “size effect”. In particular, small-cap ETFs outperform large-cap ETFs in overall raw return terms even though they fail the risk test. However, outperformance is not consistent on an annual basis. When risk-adjusted returns are taken into consideration, small-cap ETFs are inferior to their large-cap counterparts.Research limitations/implicationsThis research only covers the ETF market in the USA. However, given the tremendous growth of ETF markets worldwide, a similar examination of the “small vs large capitalization” issue could be conducted with data from other developed ETF markets in Europe and Asia. In such a case, useful comparisons could be made, so that we could conclude whether the findings of the current study are unique and US-specific or whether they could be generalized across the several international ETF markets.Practical implicationsA possible generalization of the findings would entail that profitable investment strategies could be based on the different performance and risk characteristics of small- and large-cap ETFs.Originality/valueThis is the first study to examine the performance of ETFs investing in large-cap stock indicesvis-à-visthe performance of ETFs tracking indices comprised of small-cap stocks.

scholarly journals An update on self-regulation in the Canadian securities industry (2009-2016)

2019 ◽  
Vol 27 (3) ◽  
pp. 324-344
Author(s):  
Mark Lokanan
Keyword(s):  
Justice System ◽  
Design Methodology ◽  
Self Regulation ◽  
Significant Proportion ◽  
Annual Reports ◽  
Correlation Matrices ◽  
Content Type ◽  
Securities Industry ◽  
Regulatory Organization ◽  
Practical Implications

Purpose This paper aims to analyze the processing of complaints against investment advisors and Member firms through the Investment Industry Regulatory Organization of Canada (IIROC) enforcement system between 2009 and 2016. The paper used the misconduct funnel to show the number of complaints that are “funneled in,” and how these complaints are subsequently “funneled out” and “funneled away” at the investigation and prosecution stages of IIROC enforcement system. Design/methodology/approach The paper uses data from IIROC enforcement annual reports from 2009 to 2016. A combination of descriptive statistics and correlation matrices was used to analyze the data. Findings The findings indicate that while IIROC “funneled in” more complaints, a significant proportion of complaints were “funneled out” of its enforcement system and funneled “away” from the criminal justice system. Fines imposed were often not collected from individual offenders. IIROC, it seems, is ineffective in handling the more serious and systematic industry problems. Practical implications It is hard not to see the findings from this study being used by the provincial securities commissions and the federal government to support the call for a national securities regulator in Canada. Originality/value This is the first study of its kind to systematically analyze the enforcement performance of IIROC.

A “Learning from Action” workshop in Japan

2019 ◽  
Vol 40 (2) ◽  
pp. 77-83
Author(s):  
Robert Douglas Hinshelwood ◽  
Luca Mingarelli ◽  
Simona Masnata
Keyword(s):  
Far East ◽  
Opportunity To Learn ◽  
Content Type ◽  
Work Activities ◽  
Defensive Role ◽  
Feedback Data ◽  
Experiential Workshop ◽  
First Time ◽  
Practical Implications

Purpose Many people in severe mentally disturbed states do not use language or other symbolic media well or coherently. Therefore, the non-verbal medium needs to be understood by workers with such people. The “Learning from Action” experiential workshop was developed in order to provide an opportunity to learn about hidden messages in the relationships and roles occurring in activities. In August 2017, a workshop was run for the first time in Japan. The purpose of this paper is to report the experience and dynamics observed by the three consultants, who are here the authors of this paper. Design/methodology/approach After the workshop all the staff and members, including interpreters, were invited to give feedback. Findings Analysis of the feedback data showed certain important dynamics, concerning especially dependence, cultural defences and the defensive role of activity in a multicultural context. Research limitations/implications This is an initial experience to be followed up by later feedback and further workshops. Practical implications Workers awareness of non-verbal communication within the roles of work activities is a training possibility. It faces various resistances including the mental health assumptions of meaninglessness of any communication outside the verbal. Originality/value This is a method of training not widely used even in European countries, and is the first in a country in the far east.

FATCA violation underlies latest US tax and securities fraud charges

2015 ◽  
Vol 16 (1) ◽  
pp. 74-76
Author(s):  
Miriam Fisher ◽  
Brian McManus
Keyword(s):  
Law Enforcement ◽  
Service Providers ◽  
Task Force ◽  
Tax Compliance ◽  
Financial Fraud ◽  
Securities Fraud ◽  
Content Type ◽  
The Impact ◽  
First Time ◽  
Practical Implications

Purpose – To explain the details and implications of a September 9, 2014 federal indictment, US v. Robert Bandfield, the first time a Foreign Account Tax Compliance Act (FATCA) violation has been charged as an “overt act” in furtherance of a tax conspiracy and securities fraud. Design/methodology/approach – Provides background, including the enactment of FATCA and the details of the indictment; describes an undercover investigation conducted by President Obama’s Financial Fraud Enforcement Task Force; and discusses the warnings this indictment sends to the global financial community. Findings – The indictment confirms the coordinated and aggressive tactics US law enforcement is now employing to investigate and prosecute offshore financial fraud. Practical implications – Banks and financial service providers need to be aware of the impact of enhanced US regulatory obligations and implement appropriate compliance measures. These institutions must also remain sensitive to risks presented by unscrupulous customers. Finally, they must be ready to manage appropriately information-gathering and investigatory inquiries originating with US authorities. Originality/value – Practical guidance from experienced tax controversy lawyers.

Contrasting profiles of product returners and keepers

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Dong Hwan Lee
Keyword(s):  
New York ◽  
Household Income ◽  
Field Survey ◽  
Survey Study ◽  
Content Type ◽  
Demographic Profiles ◽  
Post Purchase ◽  
Practical Implications ◽  
Insight Into ◽  
Study Offer

Purpose This paper aims to investigate whether the consumers who return a product and those who end up keeping a product after experiencing post-purchase dissonance (PPD) possess distinct underlying characteristics. Design/methodology/approach Field survey study consisting of two separate surveys conducted with consumers of New York City and neighboring areas of New York and New Jersey. Findings Product returners and keepers exhibited disparate demographic profiles regarding gender and household income, along with ethnicity to some extent. The two groups also exhibited different predispositions with regard to confidence in the purchase decision and expectations about their purchase. Finally, returners and keepers were engaged in divergent thoughts, feelings and activities to cope with PPD. Practical implications The findings of this study offer marketing practitioners new knowledge and insight into understanding product returners and keepers and will assist them in developing strategies to reduce and manage increasing product returns by consumers more effectively. Originality/value This study is the first to present empirical evidence that product returners and keepers have distinct profiles of demographic characteristics and predispositions toward purchase. The study also has found divergent PPD coping strategies used by the two types of consumers, which exposes an obsolete understanding of PPD in the marketing literature.

The role of academic conferences in the [re]production of gender inequality in business disciplines: not just a STEM problem

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Trudie Walters ◽  
Najmeh Hassanli ◽  
Wiebke Finkler
Keyword(s):  
Gender Inequality ◽  
Significant Proportion ◽  
Content Type ◽  
Discipline Area ◽  
Gendered Patterns ◽  
Underlying Processes ◽  
Patterns Of Interaction ◽  
Practical Implications ◽  
Academic Conferences

PurposeIn this paper the authors seek to understand how academic conferences [re]produce deeply embedded gendered patterns of interaction and informal norms within the business disciplines.Design/methodology/approachDrawing on Acker's (2012) established and updated theory of gendered organisations, the authors focus on the role of academic conferences in the reproduction of gendered practices in the business disciplines. The authors surveyed academics at top universities in Australia and New Zealand who had attended international conferences in their discipline area.FindingsAcademic conferences in the business disciplines communicate organisational logic and act as gendered substructures that [re]produce gendered practices, through the hierarchy of conference participation. Even in disciplinary conferences with a significant proportion of women delegates, the entrenched organisational logic is manifest in the bodies that perform keynote and visible expert roles, perpetuating the notion of the “ideal academic” as male.Practical implicationsThe authors call for disciplinary associations to formulate an equality policy, which covers all facets of conference delivery, to which institutions must then respond in their bid to host the conference and which then forms part of the selection criteria; explicitly communicate why equality is important and what decisions the association and hosts took to address it; and develop databases of women experts to remove the most common excuse for the lack of women keynote speakers. Men, question conference hosts when asked to be a keynote speaker or panelist: Are half of the speakers women and is there diversity in the line-up? If not, provide the names of women to take your place.Originality/valueThe contribution of this study is twofold. First is the focus on revealing the underlying processes that contribute to the [re]production of gender inequality at academic conferences: the “how” rather than the “what”. Second, the authors believe it to be the first study to investigate academic conferences across the spectrum of business disciplines.

“Never the first time on a patient”: the stakes of high-fidelity simulation for safety training

2018 ◽  
Vol 32 (5) ◽  
pp. 23-25 ◽  
Author(s):  
Lucie Cuvelier
Keyword(s):  
Case Studies ◽  
Design Methodology ◽  
Reading Time ◽  
Safety Training ◽  
High Fidelity ◽  
High Fidelity Simulation ◽  
Content Type ◽  
Pertinent Information ◽  
First Time ◽  
Practical Implications

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings An operative approach is described that is designed to structure the debriefing along three axes. Practical implications The paper provides strategic insights and practical thinking that have influenced some of the world’s leading organizations. Originality/value The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Cooperatives: an alternative to water privatization in Greece

2014 ◽  
Vol 10 (2) ◽  
pp. 135-154 ◽  
Author(s):  
Ifigeneia Douvitsa ◽  
Demosthenis Kassavetis
Keyword(s):  
Design Methodology ◽  
Water Distribution ◽  
Water Privatization ◽  
Negative Effects ◽  
Content Type ◽  
Negative Results ◽  
Viable Solution ◽  
Water Provision ◽  
First Time ◽  
Practical Implications

Purpose – The aim of this article is to investigate the organization of water cooperatives in Greece for the first time, as promoted by a spontaneous social mobilization called Initiative 136. The above attempt appears as an alternative proposition as opposed to the state-driven full privatization of EYATH S.A. Design/methodology/approach – This article presents previous work on water cooperatives and the negative effects of water privatization worldwide, relating it to water privatization in Greek reality through the prism of the current recession. Findings – While full privatization under the pressure of the economic crisis is very likely to yield significantly negative results, a transformation into a water cooperative might provide a viable solution. Research limitations/implications – Water cooperatives provide a solution for water distribution that is friendly for the consumer, the society and the environment. Practical implications – Application of a cooperative method of water provision in Greece could be a springboard for the use of the model in other areas. Originality/value – The article evaluates the privatization and cooperativization attempt of EYATH S.A. based on previous related research and considering Greece ' s current conditions.

Do we need medical leadership or medical engagement?

2015 ◽  
Vol 28 (3) ◽  
pp. 173-184 ◽  
Author(s):  
Peter Spurgeon ◽  
Paul Long ◽  
John Clark ◽  
Frank Daly
Keyword(s):  
Care Quality ◽  
Current Evidence ◽  
Organisational Performance ◽  
Content Type ◽  
Care Quality Commission ◽  
The Uk ◽  
Medical Leadership ◽  
First Time ◽  
Practical Implications ◽  
A Current

Purpose – The purpose of this paper is to address issues of medical leadership within health systems and to clarify the associated conceptual issues, for example, leadership versus management and medical versus clinical leadership. However, its principle contribution is to raise the issue of the purpose or outcome of medical leadership, and, in this respect, it argues that it is to promote medical engagement. Design/methodology/approach – The approach is to provide evidence, both from the literature and empirically, to suggest that enhanced medical engagement leads to improved organisational performance and, in doing so, to review the associated concepts. Findings – Building on current evidence from the UK and Australia, the authors strengthen previous findings that effective medical leadership underpins the effective organisational performance. Research limitations/implications – There is a current imbalance between the size of the databases on medical engagement between the UK (very large) and Australia (small but developing). Practical implications – The authors aim to equip medical leaders with the appropriate skill set to promote and enhance greater medical engagement. The focus of leaders in organisations should be in creating a culture that fosters and supports medical engagement. Social implications – This paper provides empowerment of medical professionals to have greater influence in the running of the organisation in which they deliver care. Originality/value – The paper contains, for the first time, linked performance data from the Care Quality Commission in the UK and from Australia with the new set of medical engagement findings.

Differences in implementing corporate social responsibility through SA8000 and ISO 26000 standards

2017 ◽  
Vol 28 (4) ◽  
pp. 438-457 ◽  
Author(s):  
Andrea Chiarini ◽  
Emidia Vagnoni
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Manufacturing Companies ◽  
Content Type ◽  
Iso 26000 ◽  
Pros And Cons ◽  
Corporate Social ◽  
First Time ◽  
Financial Issues ◽  
Practical Implications

Purpose There are different ways of implementing a corporate social responsibility (CSR) system. One interesting way of implementing a CSR system is based on standards such as SA8000 and ISO 26000. The purpose of this paper is to investigate the differences brought by the two standards in European manufacturing in CSR implementation using a survey. Design/methodology/approach Eight hypotheses were derived from an analysis of the implementation pattern for a CSR management system revealed from a review of the literature as well as from the actual two investigated standards. A questionnaire based on these hypotheses was administered to the CSR managers of 326 European manufacturing companies. A χ2 and Cramer’s V-tests were used to validate the results. The CSR managers also added comments to their responses. The qualitative results gathered from the respondents’ comments helped the authors’ to better understand the quantitative data. Findings The results showed differences in how the standards affect strategies, economic and financial issues, stakeholders involved, environmental management, customer and market issues, supply chain management and CSR key performance indicators. The results indicated that it is not clear how production and technical departments can be involved in and committed to such standards or, in general, to a CSR system. Research limitations/implications The research is based on a sample of European manufacturing managers and limited to the implementation of two specific CSR standards. Practical implications The differences between the standards should be interesting to practitioners who are thinking of implementing a CSR system in a manufacturing context and weighing the pros and cons of each standard. Originality/value This research analyses, for the first time, the differences in CSR implementation brought by SA8000 and ISO 26000 in manufacturing and, in particular, in production and technical departments.

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