scholarly journals Profitability and Executive Board Turnover in Russian Banks

2019 ◽  
Vol 13 (2) ◽  
pp. 50-65
Author(s):  
Aleksandra Kudryashova ◽  
Sergey Solntsev
Keyword(s):  
Corporate Governance ◽  
Turnover Rate ◽  
Personal Information ◽  
Banking System ◽  
Personal Characteristics ◽  
Future Research ◽  
Executive Turnover ◽  
Corporate Accountability ◽  
Accounting Data ◽  
High Level

This paper examines profitability as a factor in the turnover of poorly-performing executives in Russian banks, andhow this acts as a mechanism of good corporate governance. It is intended to identify and measure the relative effectsof different determinants on executive turnover, and thus highlight the practical sets of circumstances where turnoveris most likely. A relatively unique perspective on the study of corporate governance, we intend to demonstrate anaspect of corporate accountability for commercial performance and shed light on high-level manifestations of reactivemanagement practices.In order to construct the most realistic and robust analysis, we will take into account the idiosyncracies of the companiesand individuals involved in this process, and also consider the influence of external economic and social developmentswhere appropriate. The empirical data in this research consists of 3251 observations concerning members of theexecutive boards of the 50 largest Russian banks from 2005 till 2014. Contemporary accounting data and other financialand economic indicators for these companies is weighed alongside personal information about the banks executives.Descriptive statistics and econometric approaches are utilised in order to parse the provided data and construct acomprehensive explanatory model. Our interpretative process includes the application of probit regressions and OLSpanel regressions with fixed effects.The results of this evaluation may be summarised as follows. We found out that a decrease in return on equity (ROE)and a decrease in return on assets (ROA) leads to a higher probability of executive turnover. Changes in the EBITDA tototal assets ratio did not correlate with executive turnover probability. State-controlled banks showed a higher executiveturnover rate. A greater turnover rate during pre-crisis 2006-2007 may have been caused by banks’ demand for newexecutives, in their ambition to attain extensive growth. A higher turnover rate in 2014 could have been inspired by theeconomic sanctions again Russia, or influenced by a recent policy of the Central Bank of the Russian Federation aimingat a “clearance” of the banking system. Finally, it was demonstrated that personal characteristics of the members of theexecutive boards did not have a significant influence on executive turnover probability.This study contributes to the limited literature in the area by analysing the determinants of turnover of members of theexecutive boards of banks depending on the profitability of banks and other characteristics. This is the first study of thiskind, based on extensive Russian data which allows for the appraisal of the mechanisms of corporate governance. Whilea primary limitation of this study is that only large banks were included in the sample, the very presentation of theseconclusions carries significant weight in terms of defining methodological parameters for future research. This area isripe for further investigation. For example, it is immediately apparent that the results may be very different for small ormedium-sized banks, let alone other kinds of financial and commercial institutions.

scholarly journals Corporate governance criteria as applied in private equity investments

2005 ◽  
Vol 36 (1) ◽  
pp. 73-85 ◽  
Author(s):  
R. Millson ◽  
M. Ward
Keyword(s):  
Corporate Governance ◽  
Performance Management ◽  
Private Equity ◽  
Negative Impact ◽  
Field Research ◽  
Future Research ◽  
Analytical Technique ◽  
Equity Investments ◽  
High Level ◽  
Private Equity Investments

Ineffective governance has often formed a backdrop to corporate failure with the resultant negative impact on stakeholders. In the field of private equity, investors have consistently received financial returns that outperform those of listed equities. This research investigates the relationship that private equity principals seek with their agents.The “agent-principal” relationship in private equity investments was investigated through a literature review and a survey of experienced private equity practitioners identified the key characteristics associated with this relationship. A conjoint analytical technique was used to measure the relative importance of the various attributes and the degree of preference or utility value for these attributes amongst a sample of 27 experts.The field research established that private equity investments are characterised by, inter alia, proactive agent-principal relationships; a relatively high level of shareholder activism; insistence on transparency; non-executive influence; and active performance management. While the implementation of these lessons may be a subject for future research, the current research has identified and prioritised corporate governance mechanisms that may be more generally applied.

scholarly journals EXAMINATION OF ATTITUDES OF UNIVERSITY STUDENTS IN DISTANCE EDUCATION ACCORDING TO SOME VARIABLES

2020 ◽  
Vol 3 (2) ◽  
pp. 104-115
Author(s):  
Gizem Öneri Uzun ◽  
Ayhan Çakıcı Eş ◽  
Gözde Evram
Keyword(s):  
Distance Education ◽  
University Students ◽  
Personal Information ◽  
Private University ◽  
Attitude Scale ◽  
Future Research ◽  
Turkish Republic ◽  
Factors Affecting ◽  
Internet Connection ◽  
High Level

We are conducting distance education due to the pandemic process that we are experiencing. This study has been performed with the purpose of determining what kind of attitudes students who experience this process are displaying and the factors affecting these attitudes. The attitudes of university students studying at a private university in the Turkish Republic of Northern Cyprus according to age, gender, grade level, internet connection problem, ability to use technology, suitability of distance education environment, and whether it is efficient or not were examined. Random sampling method was used in this research, which was conducted using the relational survey model, one of the quantitative survey models. The sample of the study is 128 university students, 64 men and 64 women studying at a private university. The data of the research were collected online using the personal information form and the Distance Education Attitude Scale prepared by the researchers. SPSS 25.0 software was used for statistical analysis of research data. The scores received by university students who have high level of internet connection problems from the Distance Education Attitude Scale were lower than other university students. It is believed that this study will make contribution to future research. Keywords: Distance education, attitude, university student, internet and technology usage.

Corporate governance and COVID-19: a literature review

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Andreas Koutoupis ◽  
Panagiotis Kyriakogkonas ◽  
Michail Pazarskis ◽  
Leonidas Davidopoulos
Keyword(s):  
Corporate Governance ◽  
Literature Review ◽  
Systematic Literature Review ◽  
Developed Countries ◽  
Future Research ◽  
Accounting Data ◽  
Content Type ◽  
Research Questions ◽  
Corporate Social ◽  
The Impact

Purpose The purpose of this study is to review the literature on corporate governance (CG); environmental, social and governance (ESG) issues and corporate social responsibility (CSR) during the Coronavirus disease 2019 (COVID-19) pandemic and addresses three research questions: What are the characteristics of the literature on CG and COVID-19? What are the themes in CG in the COVID-19 era? and What are key areas of future research on CG and COVID-19? Design/methodology/approach The authors attempted a systematic literature review of 62 studies published in 2020. The authors used four criteria to identify characteristics of the literature on CG and COVID-19 and three criteria to identify key themes in the literature addressing CG and the pandemic. The authors analyzed answers to the above research questions and proposals from studies reviewed to guide future research. Findings CG in the context of COVID-19 has been studied mostly in developed countries and within a theoretical framework. As accounting data are insufficient, more research is required in all countries (developed, emerging and other). Further, there are no conclusive results regarding the relevance of ESG and CSR to financial performance. Future research should use additional methodologies and data sources to fully explain the impact of COVID-19 on CG. Practical implications Practitioners and policymakers could benefit from the study, as the authors present key challenges to CG for the present and the future. Originality/value This study is the first to provide a systematic literature review on CG during the COVID-19 pandemic and presents current trends, challenges and avenues for future research.

scholarly journals Personalized CAPTCHA Using Cognitive Cryptography

2021 ◽  
Author(s):  
Radhika ◽  
Somasundaram.S K ◽  
Sivakumar.P
Keyword(s):  
User Authentication ◽  
Personal Information ◽  
Region Of Interest ◽  
Personal Characteristics ◽  
Semantic Content ◽  
Authentication Code ◽  
Visual Elements ◽  
Specific Skill ◽  
Verification Process ◽  
High Level

Cognitive Cryptography is used to improve personal verification process using the individual’s characteristics. The personal information contained can be biometrics because it is the unique information that identifies the owner. In advanced cryptographic protocol oriented for authentication of user, there is a possibility of using personal characteristics and perception abilities are required to create a new authentication procedure. This paper presents a new approach for creation of advanced multilevel user authentication protocol by using Image grid CAPTCHA codes. Here the user needs the special skills or knowledge while verifying, this is because of cognitive CAPTCHA’s. Instead of generating some random numbers or text while authentication procedure these CAPTCHA’s can be used. In multilevel authentication code the user verification can be realized in several iterations, in which the user attention can be oriented on different visual elements, region of interest or semantic content. This cognitive code will able to identify the recognition abilities of the user. Cognitive codes are having high security feature similar to traditional CAPTCHA’s because of understanding or recognizing the blurred or distorted patterns and also requires background knowledge to experience the connection with evaluated patterns. This feature guarantees the high level of security and allows to get succeeded in authentication process because the user possess specific skill that or not available for computers or answering systems. The traditional authentication protocols are to be involved with human mental capability is the vital idea of the proposed solution.

Power of Modified Brown-Forsythe and Mixed-Model Approaches in Split-Plot Designs

Methodology ◽  
2017 ◽  
Vol 13 (1) ◽  
pp. 9-22 ◽  
Author(s):  
Pablo Livacic-Rojas ◽  
Guillermo Vallejo ◽  
Paula Fernández ◽  
Ellián Tuero-Herrero
Keyword(s):  
Repeated Measures ◽  
Statistical Power ◽  
Mixed Model ◽  
Covariance Structure ◽  
Simulation Method ◽  
Future Research ◽  
Repeated Measures Design ◽  
Fixed And Random Effects ◽  
Split Plot ◽  
High Level

Abstract. Low precision of the inferences of data analyzed with univariate or multivariate models of the Analysis of Variance (ANOVA) in repeated-measures design is associated to the absence of normality distribution of data, nonspherical covariance structures and free variation of the variance and covariance, the lack of knowledge of the error structure underlying the data, and the wrong choice of covariance structure from different selectors. In this study, levels of statistical power presented the Modified Brown Forsythe (MBF) and two procedures with the Mixed-Model Approaches (the Akaike’s Criterion, the Correctly Identified Model [CIM]) are compared. The data were analyzed using Monte Carlo simulation method with the statistical package SAS 9.2, a split-plot design, and considering six manipulated variables. The results show that the procedures exhibit high statistical power levels for within and interactional effects, and moderate and low levels for the between-groups effects under the different conditions analyzed. For the latter, only the Modified Brown Forsythe shows high level of power mainly for groups with 30 cases and Unstructured (UN) and Autoregressive Heterogeneity (ARH) matrices. For this reason, we recommend using this procedure since it exhibits higher levels of power for all effects and does not require a matrix type that underlies the structure of the data. Future research needs to be done in order to compare the power with corrected selectors using single-level and multilevel designs for fixed and random effects.

THE RELATIONSHIP BETWEEN CAREER DEVELOPMENT, COMPENSATION, JOB SECURITY, WORK ENVIRONMENT AND EMPLOYEE LOYALTY

2020 ◽  
Vol 9 (1) ◽  
Author(s):  
Muhammad Faizal Samat ◽  
Muhammad Najmuddin Hamid ◽  
Muhammad Ameer Shafiq Awang@Ali ◽  
Wan Muhammad Iqmal Fazri Wan Juahari ◽  
Khairul Asraf Ghazali ◽  
...  
Keyword(s):  
Career Development ◽  
Work Environment ◽  
Turnover Rate ◽  
Sampling Technique ◽  
Job Security ◽  
Future Research ◽  
Kuala Lumpur ◽  
Employee Loyalty ◽  
Convenience Sampling ◽  
The Relationship

Malaysia has recorded the second highest involuntary turnover rate at 6% and third highest voluntary rate at 6.5% in South East Asia. Employee loyalty becomes critical towards employer. Thus, the purpose of this study was to examine the relationship between career development, compensation, job security, work environment and employee loyalty. In conducting this study, convenience sampling technique has been employed and respondents have been chosen in the area of Kuala Lumpur. Hypothesis were tested using regression analysis by using Smart-PLS. Based on the result, career development, compensation and job security were found to be significant with employee loyalty. However, work environment was found to be not significant with employee loyalty. It is suggested for future research to explore other variables in order to find the factors contributed in employee loyalty. Keywords: Career Development, Compensation, Job Security, Work Environment, Employee Loyalty

COVID-19 Outbreak Prediction with Machine Learning

2020 ◽  
Author(s):  
Sina Faizollahzadeh Ardabili ◽  
Amir Mosavi ◽  
Pedram Ghamisi ◽  
Filip Ferdinand ◽  
Annamaria R. Varkonyi-Koczy ◽  
...  
Keyword(s):  
Machine Learning ◽  
Prediction Models ◽  
Fuzzy Inference ◽  
Control Measures ◽  
Future Research ◽  
Complex Nature ◽  
Inference System ◽  
Wide Range ◽  
Standard Models ◽  
High Level

Several outbreak prediction models for COVID-19 are being used by officials around the world to make informed-decisions and enforce relevant control measures. Among the standard models for COVID-19 global pandemic prediction, simple epidemiological and statistical models have received more attention by authorities, and they are popular in the media. Due to a high level of uncertainty and lack of essential data, standard models have shown low accuracy for long-term prediction. Although the literature includes several attempts to address this issue, the essential generalization and robustness abilities of existing models needs to be improved. This paper presents a comparative analysis of machine learning and soft computing models to predict the COVID-19 outbreak as an alternative to SIR and SEIR models. Among a wide range of machine learning models investigated, two models showed promising results (i.e., multi-layered perceptron, MLP, and adaptive network-based fuzzy inference system, ANFIS). Based on the results reported here, and due to the highly complex nature of the COVID-19 outbreak and variation in its behavior from nation-to-nation, this study suggests machine learning as an effective tool to model the outbreak. This paper provides an initial benchmarking to demonstrate the potential of machine learning for future research. Paper further suggests that real novelty in outbreak prediction can be realized through integrating machine learning and SEIR models.

Investments by Emerging-Market Multinationals in Other Emerging Markets

2018 ◽  
pp. 630-656
Author(s):  
Jing Li ◽  
Daniel Shapiro
Keyword(s):  
Sustainable Development ◽  
Corporate Governance ◽  
Emerging Economies ◽  
Multinational Enterprises ◽  
Emerging Market ◽  
Institutional Development ◽  
Spillover Effects ◽  
Investment Strategy ◽  
Future Research ◽  
Foreign Direct Investments

This chapter reviews the literature on foreign direct investments among emerging economies (E-E FDI), focusing on the motivations behind E-E FDI, country-specific advantages and firm-specific advantages associated with emerging-economy multinational enterprises (EMNEs), and spillover effects of E-E FDI on host-country economic and institutional development. We identify the following topics as posing important questions for future research: EMNEs’ ability to leverage home-government resources and diplomatic connections to promote investment in other emerging economies; nonmarket strategies of EMNEs in emerging economies; ownership and corporate governance affecting investment strategy and performance of EMNEs; E-E FDI contributions to sustainable development in host countries. Future studies should also consider potential heterogeneity among EMNEs by integrating insights from institutional theory, network theory, political science, corporate governance, corporate social responsibility, and sustainable-development research.

scholarly journals Opportunities and Challenges of Green-Lean: An Integrated System for Sustainable Construction

2020 ◽  
Vol 12 (11) ◽  
pp. 4460 ◽  
Author(s):  
Mohammadsoroush Tafazzoli ◽  
Ehsan Mousavi ◽  
Sharareh Kermanshachi
Keyword(s):  
Cost Savings ◽  
Integrated Approach ◽  
Integrated System ◽  
Waste Minimization ◽  
Sustainable Construction ◽  
Future Research ◽  
Safety Improvement ◽  
The Individual ◽  
High Level ◽  
Industry Professionals

Although the two concepts of lean and sustainable construction have been developed due to different incentives, and they do not pursue the same exact goals, there exists considerable commonality between them. This paper discusses the potentials for integrating the two approaches and their practices and how the resulting synergy from combining the two methods can potentially lead to higher levels of fulfilling the individual goals of each of them. Some limitations and challenges to implementing the integrated approach are also discussed. Based on a comprehensive review of existing papers related to sustainable and lean construction topics, the commonality between the two approaches is discussed and grouped in five categories of (1) cost savings, (2) waste minimization, (3) Jobsite safety improvement, (4) reduced energy consumption, and (5) customers’ satisfaction improvement. The challenges of this integration are similarly identified and discussed in the four main categories of (1) additional initial costs to the project, (2) difficulty of providing specialized expertise, (3) contractors’ unwillingness to adopt the additional requirements, and (4) challenges to establish a high level of teamwork. Industry professionals were then interviewed to rank the elements in each of the two categories of opportunities and challenges. The results of the study highlight how future research can pursue the development of a new Green-Lean approach by investing in the communalities and meeting the challenges of this integration.

scholarly journals Time Granularity Impact on Propagation of Disruptions in a System-of-Systems Simulation of Infrastructure and Business Networks

2021 ◽  
Vol 18 (8) ◽  
pp. 3922
Author(s):  
Mateusz Iwo Dubaniowski ◽  
Hans Rudolf Heinimann
Keyword(s):  
Recovery Time ◽  
System Of Systems ◽  
Future Research ◽  
Business Networks ◽  
Simulation Experiments ◽  
Huge Impact ◽  
High Level ◽  
Systems Simulation ◽  
Different Characteristics ◽  
The Impact

A system-of-systems (SoS) approach is often used for simulating disruptions to business and infrastructure system networks allowing for integration of several models into one simulation. However, the integration is frequently challenging as each system is designed individually with different characteristics, such as time granularity. Understanding the impact of time granularity on propagation of disruptions between businesses and infrastructure systems and finding the appropriate granularity for the SoS simulation remain as major challenges. To tackle these, we explore how time granularity, recovery time, and disruption size affect the propagation of disruptions between constituent systems of an SoS simulation. To address this issue, we developed a high level architecture (HLA) simulation of three networks and performed a series of simulation experiments. Our results revealed that time granularity and especially recovery time have huge impact on propagation of disruptions. Consequently, we developed a model for selecting an appropriate time granularity for an SoS simulation based on expected recovery time. Our simulation experiments show that time granularity should be less than 1.13 of expected recovery time. We identified some areas for future research centered around extending the experimental factors space.

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