North Korean cybertheft will grow as sanctions bite

2018 ◽  
Keyword(s):  
Financial Institutions ◽  
North Korea ◽  
Economic Sanctions ◽  
Potential Threat ◽  
Content Type ◽  
Non Profit ◽  
Korean State

Subject North Korean state cybercrime. Significance Hacker groups linked to North Korea are believed to be behind some of the world's most aggressive cyberattacks. They are a potential threat to many organisations -- public, private and non-profit alike. Impacts States where North Korean hacking cells are located will come under pressure from victim states to eliminate them. Revenue-seeking North Korean cybercrime will target cryptocurrency holders and large financial institutions. States that are victims of North Korea cyberattacks will likely respond via non-cyber means, such as economic sanctions.

Incoherent US trade plans may get nastier not clearer

2017 ◽  
Keyword(s):  
Trade Policy ◽  
Financial Institutions ◽  
North Korea ◽  
Election Campaign ◽  
International Financial Institutions ◽  
Donald Trump ◽  
Content Type ◽  
Us Trade Policy ◽  
Trade Sanctions ◽  
Trade Deals

Subject US trade policy. Significance During his election campaign, Donald Trump slammed decades of US policy and pledged to secure better trade deals, putting 'America First'. Upon taking office, Trump withdrew from the Trans-Pacific Partnership (TPP), but six months on, his trade agenda remains disjointed. Impacts Trump could use executive powers in a more sweeping fashion if he cannot deliver trade changes via legislation. Washington will expand secondary trade sanctions on firms and people that deal with North Korea, most of which are Chinese. Securing 'big-ticket' export deals will be a means for Trump to deliver manufacturing jobs to his political heartland. US opposition to funding and reforms of international financial institutions could reduce the momentum behind global cooperation.

Pyongyang finds few alternatives as China ties fray

2015 ◽  
Keyword(s):  
Foreign Relations ◽  
North Korea ◽  
Political Risk ◽  
Content Type ◽  
Chinese Investment ◽  
Track Record ◽  
Kim Jong Il ◽  
Investment Opportunities ◽  
Potential Alternative ◽  
Korean State

Subject The outlook for China-North Korea foreign relations. Significance A ceremony in Pyongyang on December 17 marked the third anniversary of the death of Kim Jong-il. Unlike on previous occasions, no Chinese delegation was invited. Official exchanges between North Korea and its sole ally have slowed to a trickle. Beijing has frozen investment in North Korean infrastructure. Chinese and North Korean state media exchange critical remarks. Frustrated with Pyongyang's snubs and its perseverance with its nuclear weapons programme, Beijing is putting more pressure on North Korea than ever before -- while Pyongyang attempts to reduce China's ability to do this and retaliates in kind. Impacts North Korea's dire track record vis-a-vis foreign investors will hamstring its attempts to drum up investor interest more widely. Despite China's presumed influence, Chinese investors are far from immune to political risk. Political risk has increased for Chinese investors in North Korea, but has not fallen for non-Chinese investors. Russia will be offered investment opportunities in North Korea, but will accept only projects viable on purely commercial grounds. Though disappointment has repeatedly followed promising signs, South Korea offers the highest-potential alternative to Chinese investment.

Leftward lurch in Seoul will roil US ties

2017 ◽  
Keyword(s):  
North Korea ◽  
Economic Sanctions ◽  
Criminal Trial ◽  
Right Wing ◽  
Left Main ◽  
Content Type ◽  
Historical Issues

Significance It will almost certainly be Moon Jae-in of the centre-left main opposition Minjoo (Democrat) Party. This will mean a sharp break, after a decade of two right-wing leaders: Lee Myung-bak (2008-13) and the impeached and now imprisoned Park Geun-hye (2013-16), whose criminal trial on 18 counts of malfeasance began yesterday. Impacts Moon, armed with a mandate, may challenge US policy and force Trump to clarify his posturing. Relations with China would ease if Moon reverses deployment of new US missile defence systems, though this looks unlikely. If Moon restores inter-Korean trade, Pyongyang would become less vulnerable to Chinese economic sanctions. Seoul's ties with Tokyo will continue to fester, over both North Korea policy and historical issues.

Criminal state: understanding narcotics trafficking networks in North Korea

2019 ◽  
Vol 26 (4) ◽  
pp. 1014-1026
Author(s):  
Zhongmin Liu
Keyword(s):  
North Korea ◽  
Academic Research ◽  
Secondary Data ◽  
Survival Strategies ◽  
Sovereign State ◽  
Content Type ◽  
The North ◽  
Production And Distribution ◽  
Narcotics Trafficking ◽  
Korean State

Purpose In North Korea, illicit activities directly or implicitly supported by the North Korean Government are an integral part of the nation’s survival strategies. This study aims to discuss how North Korea directs its national power and resources to facilitate narcotics trafficking activities and how the role of North Korean State in the narcotics trafficking network has changed over time since the 1970s. Design/methodology/approach Analysis of narcotics trafficking in North Korea has primarily involved a review of secondary data, including previous academic research in this field, news articles, circumstantial and forensic evidence, seizure data and defector testimony. Findings This paper argues that prior to 2000, North Korea was systematically and directly engaged in narcotics production and distribution. The nation state could be regarded as a form of “criminal sovereignty”, because the sovereign state is itself criminal. However, in the post-2000s, North Korea’s Government began to gradually withdraw from narcotics trafficking, creating space for various non-state actors – such as criminal syndicates, private traders and local officials – to enter the once-monopolistic network. De-centralisation of narcotics trafficking network in North Korea suggests that the state’s criminal sovereignty may be gradually eroding and the pattern of state criminalisation in North Korea may be transforming. Originality/value This paper draws on theories concerning state criminalisation to understand the changing dynamics of narcotics trafficking network in North Korea.

Disunity on North Korea will dissipate nuclear fallout

2016 ◽  
Keyword(s):  
United States ◽  
South Korea ◽  
North Korea ◽  
The United States ◽  
Content Type ◽  
Policy Initiatives ◽  
Nuclear Fallout ◽  
Korean State ◽  
Policy Shifts

Significance Separately, North Korean state media announced today the arrest of a US tourist for an unspecified "hostile act". Impacts Inter-Korean ties will suffer, but Kim had already given up on President Park Geun-hye. Upcoming elections in the United States and South Korea militate against new policy initiatives. Seoul's relations with Beijing will cool, while those with Tokyo improve somewhat. The Congress of the North's ruling Workers' Party in May, will give clues about personnel and policy shifts.

Financial institutions mergers: a strategy choice of wealth maximisation and economic value

2020 ◽  
Vol 12 (4) ◽  
pp. 495-529
Author(s):  
Mohamad Hassan ◽  
Evangelos Giouvris
Keyword(s):  
Credit Risk ◽  
Event Study ◽  
Financial Institutions ◽  
Value Creation ◽  
Economic Value ◽  
Abnormal Returns ◽  
Study Analysis ◽  
Event Window ◽  
Content Type ◽  
Merger Announcement

Purpose This study Investigates Shareholders' value adjustment in response to financial institutions (FIs) merger announcements in the immediate event window and in the extended event window. This study also investigates accounting measures performance, comparison of post-merger to pre-merger, including several cash flow measures and not just profitability measures, as the empirical literature review suggests. Finally, the authors examine FIs mergers orientations of diversification and focus create more value for shareholders (in the immediate announcement window and several months afterward) and/or generates better cash flows, profitability and less credit risk. Design/methodology/approach This study examines FIs merger effect on bidders’ shareholder’s value and on their observed performance. This examination deploys three techniques simultaneously: a) an event study analysis, to estimate and calculate abnormal returns (ARs) and cumulative abnormal returns (CARs) in the narrow windows of the merger announcement, b) buy and hold event study analysis, to estimate ARs in the wider window of the event, +50 to +230 days after the merger announcement and c) an observed performance analysis, of financial and capital efficiency measures before and after the merger announcement; return on equity, liquidity, cost to income ratio, capital to total assets ratio, net loans to total loans, credit risk, loans to deposits ratio, other expenses and total assets, economic value addition, weighted average cost of capital and return on invested capital. Deal criteria of value, mega-deals, strategic orientation (as in Ansoff (1980) growth strategies), acquiring bank size and payment method are set as individually as control variables. Findings Results show that FIs mergers destroy share value for the bidding firms pursuing a market penetration strategy. Market development and product development strategies enable shareholders’ value creation in short and long horizons. Diversification strategies do not influence bidding shareholders’ value. Local bank to bank mergers create shareholders’ value and enhance liquidity and economic value in the short run. Bank to bank cross border mergers create value for bidders’ in the long term but are associated with high costs and higher risks. Originality/value A significant advancement over the current literature is in assessing mergers, not only for bank bidders but also for the three pillars FIs of the financial sector; banks, real-estate companies and investment companies mergers. It is an improvement over current finance literature because it deploys two different strategies in the analysis. At a univariate level, shareholder value creation and market reaction to merger announcements are examined over short (−5 or +5 days) and long (+230 days) windows of the event. Followed by regressing, the resultant CARs and BHARs over financial performance variables at the multivariate level.

Do disclosure and transparency affect bank’s financial performance?

2019 ◽  
Vol 19 (6) ◽  
pp. 1344-1361
Author(s):  
Isaiah Oino
Keyword(s):  
Risk Management ◽  
Corporate Governance ◽  
Financial Performance ◽  
Financial Institutions ◽  
Content Type ◽  
Loan Portfolios ◽  
Cent Level ◽  
Transparency And Disclosure ◽  
The Impact

Purpose The purpose of this paper is to examine the impact of transparency and disclosure on the financial performance of financial institutions. The emphasis is on assessing transparency and disclosure; auditing and compliance; risk management as indicators of corporate governance; and understanding how these parameters affect bank profitability, liquidity and the quality of loan portfolios. Design/methodology/approach A sample of 20 financial institutions was selected, with ten respondents from each, yielding a total sample size of 200. Principal component analysis (PCA), with inbuilt ability to check for composite reliability, was used to obtain composite indices for the corporate governance indicators as well as the indicators of financial performance, based on a set of questions framed for each institution. Findings The analysis demonstrates that greater disclosure and transparency, improved auditing and compliance and better risk management positively affect the financial performance of financial institutions. In terms of significance, the results show that as the level of disclosure and transparency in managerial affairs increases, the performance of financial institutions – as measured in terms of the quality of loan portfolios, liquidity and profitability – increases by 0.3046, with the effect being statistically significant at the 1 per cent level. Furthermore, as the level of auditing and the degree of compliance with banking regulations increases, the financial performance of banks improves by 0.3309. Research limitations/implications This paper did not consider time series because corporate governance does not change periodically. Practical implications This paper demonstrates the importance of disclosure and transparency in managerial affairs because the performance of financial institutions, as measured in terms of loan portfolios, liquidity and profitability, increases by 0.4 when transparency and disclosure improve, with this effect being statistically significant at the 1 per cent level. Originality/value The use of primary data in assessing the impact of corporate governance on financial performance, instead of secondary data, is the primary novelty of this study. Moreover, PCA is used to assess the weight of the various parameters.

Knowledge needs in the non-profit sector: an evidence-based model of organizational practices

2016 ◽  
Vol 20 (1) ◽  
pp. 23-48 ◽  
Author(s):  
Dinesh Rathi ◽  
Lisa M. Given ◽  
Eric Forcier
Keyword(s):  
Quantitative Data ◽  
Qualitative Data ◽  
Free Text ◽  
Evidence Based ◽  
Theory Approach ◽  
Organizational Practices ◽  
Content Type ◽  
Non Profit ◽  
Types Of Knowledge ◽  
Survey Responses

Purpose – This paper aims to present findings from a study of non-profit organizations (NPOs), including a model of knowledge needs that can be applied by practitioners and scholars to further develop the NPO sector. Design/methodology/approach – A survey was conducted with NPOs operating in Canada and Australia. An analysis of survey responses identified the different types of knowledge essential for each organization. Respondents identified the importance of three pre-determined themes (quantitative data) related to knowledge needs, as well as a fourth option, which was a free text box (qualitative data). The quantitative and qualitative data were analyzed using descriptive statistical analyses and a grounded theory approach, respectively. Findings – Analysis of the quantitative data indicates that NPOs ' needs are comparable in both countries. Analysis of qualitative data identified five major categories and multiple sub-categories representing the types of knowledge needs of NPOs. Major categories are knowledge about management and organizational practices, knowledge about resources, community knowledge, sectoral knowledge and situated knowledge. The paper discusses the results using semantic proximity and presents an emergent, evidence-based knowledge management (KM)-NPO model. Originality/value – The findings contribute to the growing body of literature in the KM domain, and in the understudied research domain related to the knowledge needs and experiences of NPOs. NPOs will find the identified categories and sub-categories useful to undertake KM initiatives within their individual organizations. The study is also unique, as it includes data from two countries, Canada and Australia.

Managing the most important asset: a twenty year review on the performance management literature

2022 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ebina Justin M.A. ◽  
Manu Melwin Joy
Keyword(s):  
Performance Management ◽  
Management Practices ◽  
Organizational Outcomes ◽  
Future Research ◽  
System Quality ◽  
Content Type ◽  
Non Profit ◽  
Quantitative Studies ◽  
Theoretical Perspectives ◽  
Human Resource Management Practices

Purpose The three objectives served by this review are to provide readers a limpid insight about the topic performance management (PM), to analyse the latest trends in PM literature and to illustrate the theoretical perspectives. It would be fascinating for the practitioners and researchers to see the latest trends in the PM system, which is not yet covered in previous reviews. The study covers the historical and theoretical perspectives of human resource management practices. We also try to unveil some of the theoretical debates and conflicts regarding the topic. Design/methodology/approach We reviewed 139 studies on PM published within the last 20 years (2000–2020). The method used here is the integrative review method. The criteria used to determine studies are articles from peer-reviewed journals regarding the PM system published between 2000 and 2020. The initial search for studies was conducted using an extensive journal database, and then an intensive reference-based search was also done. Each selected article was coded, themes were identified, and trends for every 5 years were determined. All the articles were analysed and classified based on the methodology used to identify qualitative and quantitative studies. Findings The review concludes that PM literature's emphasis shifted from traditional historical evaluations conducted once or twice a year to forward-looking, feedback-enriched PM systems. By segregating the studies into 5-year periods, we could extract five significant trends that prevailed in the PM literature from 2000 to 2020: reactions to PM system, factors that influence PM system, quality of rating sources, evaluating the PM system and types of the PM system. The review ends with a discussion of practical implications and avenues for future research. Research limitations/implications It is equally a limitation and strength of this paper that we conducted a review of 139 articles to cover the whole works in PM literature during the last 20 years. The study could not concentrate on any specific PM theme, such as exploring employee outcomes or organizational outcomes. Likewise, the studies on public sector and non-profit organizations are excluded from this review, which constitutes a significant share of PM literature. Another significant limitation is that the selected articles are classified only based on their methodology; further classification based on different themes and contexts can also be done. Originality/value The study is an original review of the PM literature to identify the latest trends in the field.

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