scholarly journals Prioritizing Short-Termism in Behavioural Strategy: Lessons from Enron – 20 Years On

2019 ◽  
Vol 14 (4) ◽  
pp. 60
Author(s):  
Gianpaolo Abatecola
Keyword(s):  
Corporate Strategy ◽  
Research Question ◽  
Top Executives ◽  
Corporate Scandals ◽  
A Value ◽  
Behavioural Strategy ◽  
The Us ◽  
Big Picture ◽  
Short Termism

What are the risks of prioritizing short-term goals in corporate strategy against more long-term oriented (and hopefully sustainable) corporate performance? Through a qualitative case study narrative recalling some aspects of the sadly famous, but still insightful, bankruptcy of the Enron Corporation in the US (2001), this article aims at contributing to shed light on this lively research question within the international research on and practice of behavioural strategy. Given that, also currently, the seasons of corporate scandals do not seem to have ended, the main motivation behind this work is that the lessons which we could have learned after almost 20 years since the Enron seminal disaster occurred, can still probably have a value. In parallel, the main conceptual contribution offered by our case perspective is that, while the massive past and recent Enron’s coverage has mostly devoted attention to the aspects of fraud and its associated business ethics, our analysis is, instead, focused on the corporate strategic orientation mainly deriving from the macho culture of the top executives. Of course, we are aware that concentrating on the latter cannot avoid acknowledging also the importance of the former. Furthermore, the case can also offer a methodological contribution; in fact, while much of the research in corporate governance has been implemented through quantitative techniques, scholars have also recently claimed that additional qualitative research is complementarily needed to reach a more exhaustive big picture on how executives behave.

scholarly journals Perbandingan Metode ANN-PSO dan ANN-GA untuk Peningkatan Akurasi Prediksi Harga Emas Antam

2019 ◽  
Vol 10 (2) ◽  
pp. 101-106
Author(s):  
Nadia Annisa Maori ◽  
Keyword(s):  
Neural Network ◽  
Algorithm Optimization ◽  
Swarm Optimization ◽  
A Value ◽  
The Neural Network ◽  
The Us ◽  
Us Dollar ◽  
Artificial Neural Network Ann ◽  
Backpropagation Artificial Neural Network

Antam's gold price is more expensive than the price of gold used by more investors for long-term use. Sometimes the price of antam gold cannot be predicted at any time. Antam's rising gold prices were moved by many factors, sent in exchange rates of US dollars (USD). If the exchange rate of the US dollar (USD) decreases, the price of gold will rise and vice versa, if the value of the US dollar (USD) strengthens, the price of gold will increase. This condition makes it difficult for investors to predict the price of gold in the future. Backpropagation Artificial Neural Network (ANN) is known as one of the good methods in predicting. In this study an evaluation of the results of the price of gold using ANN with the help of PSO (Particle Swarm Optimization) and GA (Genetic Algorithm) optimization. PSO has many similarities with GA, which is an algorithm adopted from the process of supporting humans. The results of the study prove that PSO Optimization is able to provide an increase in optimizing the weights on the Neural Network by producing the best RMSE value, which is equal to 0.026, while GA optimization only produces a value of 0.09.

scholarly journals Integrated Reporting and Investment: How are They Related?

The Winners ◽  
2020 ◽  
Vol 21 (1) ◽  
pp. 1
Author(s):  
Bernadeta Susilo Martanti ◽  
Dessy Astuti Hermanto ◽  
Elin Noviyanti ◽  
Windy Rizkika Andriany
Keyword(s):  
Corporate Strategy ◽  
Value Relevance ◽  
The United States ◽  
Professional Services ◽  
Integrated Reporting ◽  
Voluntary Regulation ◽  
A Value ◽  
Government Mandates ◽  
The Government

The research aimed to explore how integrated reporting potentially impact the investor decision within mandatory and voluntary regulation. The method used was exploration of arguments from several researchers, either from theoretical and empirical basis, or literature review.  The method of this qualitative research was dividing the literature into categories which in this research would be mandatory and voluntary regulations. The sub categories were divided by two countries which were Africa and The United States as research objects. The result and discussion were integrated reporting increases the value relevance of information produced by the company and underline the way companies create a value over the short until long term by informing business model, corporate strategy, and forecasting view. The result shows that Integrated Reporting will be more useful if the Government mandates the regulation like in Africa. It is considered that when Integrated Reporting potentially impacts the investors’ decision assured by professional services, these disclosures will be more accurate and reliable. A contribution for the government to create a clear regulation of the integrated report and provide an assurance service to assure the accuracy of information in the Integrated Report will be our expectation.

Financial Architecture and Manager Dishonesty: Lessons from US Corporate Scandals

2005 ◽  
Vol 55 (1) ◽  
pp. 1-22 ◽  
Author(s):  
Radu Vranceanu
Keyword(s):  
Internal Control ◽  
Conflicts Of Interest ◽  
Financial Architecture ◽  
Top Executives ◽  
Corporate Scandals ◽  
Regulatory Changes ◽  
Sarbanes Oxley ◽  
The Us ◽  
Perverse Incentives ◽  
One Step

During the US Internet bubble (1995-2001), several top executives dismissed both the law and ethical norms transferring large chunks of company wealth into their own hands. This paper investigates the key economic factors that brought about the proliferation of dishonest managerial behaviour, focussing on the weak internal control, perverse incentives related to managers' compensation schemes and conflicts of interest in the banking and auditing sectors. In order to prevent further abuses, the US administration imposed several regulatory changes, mainly through the Sarbanes- Oxley Act of 2002; we argue why some of its provisions might be taken one step further.

scholarly journals Networking Digital Platforms and Healthcare Project Finance Bankability

2021 ◽  
Vol 13 (9) ◽  
pp. 5061
Author(s):  
Roberto Moro-Visconti
Keyword(s):  
Value Creation ◽  
Network Theory ◽  
Research Question ◽  
Project Finance ◽  
Healthcare Industry ◽  
Digital Platforms ◽  
The Third ◽  
A Value ◽  
Major Stakeholder

Framework: Healthcare project finance (PF) involves long-term structural investments in hospitals, typically within a public–private partnership (PPP). Banks represent the third major stakeholder, supporting the private player. Within this well-known framework, digital platforms represent a new virtual stakeholder, operating as a bridging node that incorporates information, and eases transactions. The relationships among the stakeholders are re-engineered around the platform and may be expressed with network theory patterns, even considering its multilayer extensions. Justification: As these investments are highly leveraged, especially during the construction phase, bankability represents a major sustainability concern. Objective: The research question is focused on the savings deriving from the introduction of networked digital platforms, and on their impact on bankability, shaping a new PPP model. Methodology: The study is conducted through (a) an economic–financial sensitivity analysis where digital savings impact on key PF parameters, including bankability; (b) a mathematical interpretation, based on network theory, where the stakeholders of two ecosystems—respectively, without and with a digital platform—are compared. Results: The creation of a value-adding “pie” anticipates its partitioning among the value co-creating stakeholders. This study represents an advance in the field, showing how technological innovation may improve the overall bankability and the value creation of leveraged infrastructural investments, even beyond the healthcare industry.

scholarly journals Fluktuasi Biaya Haji Dalam Rupiah, Dolar AS dan Dinar: Perspektif Investasi Syariah

2018 ◽  
Vol 3 (1) ◽  
pp. 139
Author(s):  
Arina Hidayati
Keyword(s):  
Data Exchange ◽  
Purchasing Power ◽  
A Value ◽  
The Us ◽  
Qualitative Descriptive ◽  
Us Dollar ◽  
The Stability ◽  
Financial Transactions ◽  
Descriptive Method

Abstract: Haji fee always fluctuated from time to time due to changes in economic conditions. The study compared fluctuations Haji Cost of Year 1998-2017 in the currency Rupiah, US Dollar and Gold Dinar to determine the stability of Hajj Cost fluctuations from year to year as consideration of financial planning in preparation for Hajj and other long-term needs as a form of investment sharia. The research method in this study is qualitative descriptive method. Data collected from the Presidential on Fees Hajj of the Year 1998-2017, the data exchange in the BI and the price of the dinar in geraidinar.com then process the data in the form of a non descriptive statistics. From the discussion of research on the fluctuation of the Year 1998-2017 Haji fee in Rupiah, US Dollar and the Dinar result that the US dollar is more stable than the amount, is more stable than Rupiah Dinar and Dinar value and purchasing power of the most volatile than Rupiah and US Dollar. Dinar most encouraged to be the choice of savings in preparing for Hajj fees and other long-term funding needs, poor second to the US Dollar and Rupiah ranked third. Islamic investment safest long term is in dinars, as it has a value and purchasing power of the most stable, followed by the US dollar and the rupiah is recommended only used in everyday financial transactions in the short term.Abstrak: Biaya Haji senantiasa mengalami fluktuasi dari waktu ke waktu seiring dengan perubahan kondisi perekonomian. Penelitian ini membandingkan fluktuasi Biaya Haji dari Tahun 1998-2017 dalam satuan mata uang Rupiah, Dolar AS dan Dinar Emas untuk mengetahui stabilitas fluktuasi Biaya Haji dari tahun ke tahun sebagai bahan pertimbangan perencanaan keuangan dalam rangka persiapan Ibadah Haji dan kebutuhan jangka panjang lainnya sebagai bentuk investasi syariah. Metode penelitian dalam penelitian ini bersifat kualitatif dengan metode deskriptif. Data dikumpulkan dari Kepres tentang Biaya Haji dari Tahun 1998-2017, data nilai tukar mata uang di BI dan harga dinar di geraidinar.com kemudian mengolah data dalam bentuk non statistik deskriptif. Dari pembahasan penelitian terhadap fluktuasi Biaya Haji dari Tahun 1998-2017 dalam Rupiah, Dolar AS dan Dinar diperoleh hasil bahwa Dolar AS lebih stabil daripada Rupiah, Dinar lebih stabil daripada Rupiah dan Dinar memiliki nilai dan daya beli paling stabil daripada Rupiah dan Dolar AS. Dinar paling dianjurkan menjadi pilihan tabungan dalam mempersiapkan Biaya Haji dan kebutuhan dana jangka panjang lainnya, urutan ke dua Dolar AS dan Rupiah diurutan ketiga. Investasi syariah jangka panjang paling aman adalah dalam Dinar, karena memiliki nilai dan daya beli paling stabil, disusul Dolar AS dan Rupiah dianjurkan hanya digunakan dalam transaksi keuangan sehari-hari dalam jangka pendek.

Moving past the vaccine/autism controversy - to examine potential vaccine neurological harms

2020 ◽  
pp. 1-15
Author(s):  
Peter R. Breggin
Keyword(s):  
Neurological Disorders ◽  
Developmental Disorder ◽  
Physical Symptoms ◽  
Psychosocial Disorders ◽  
The Us ◽  
Potential Vaccine ◽  
Research And Education ◽  
The Brain ◽  
New Vaccines

BACKGROUND: The vaccine/autism controversy has caused vast scientific and public confusion, and it has set back research and education into genuine vaccine-induced neurological disorders. The great strawman of autism has been so emphasized by the vaccine industry that it, and it alone, often appears in authoritative discussions of adverse effects of the MMR and other vaccines. By dismissing the chimerical vaccine/autism controversy, vaccine defenders often dismiss all genuinely neurological aftereffects of the MMR (measles, mumps, and rubella) and other vaccines, including well-documented events, such as relatively rare cases of encephalopathy and encephalitis. OBJECTIVE: This report explains that autism is not a physical or neurological disorder. It is not caused by injury or disease of the brain. It is a developmental disorder that has no physical origins and no physical symptoms. It is extremely unlikely that vaccines are causing autism; but it is extremely likely that they are causing more neurological damage than currently appreciated, some of it resulting in psychosocial disabilities that can be confused with autism and other psychosocial disorders. This confusion between a developmental, psychosocial disorder and a physical neurological disease has played into the hands of interest groups who want to deny that vaccines have any neurological and associated neuropsychiatric effects. METHODS: A review of the scientific literature, textbooks, and related media commentary is integrated with basic clinical knowledge. RESULTS: This report shows how scientific sources have used the vaccine/autism controversy to avoid dealing with genuine neurological risks associated with vaccines and summarizes evidence that vaccines, including the MMR, can cause serious neurological disorders. Manufacturers have been allowed by the US Food and Drug Administration (FDA) to gain vaccine approval without placebo-controlled clinical trials. CONCLUSIONS: The misleading vaccine autism controversy must be set aside in favor of examining actual neurological harms associated with vaccines, including building on existing research that has been ignored. Manufacturers of vaccines must be required to conduct placebo-controlled clinical studies for existing vaccines and for government approval of new vaccines. Many probable or confirmed neurological adverse events occur within a few days or weeks after immunization and could be detected if the trials were sufficiently large. Contrary to current opinion, large, long-term placebo-controlled trials of existing and new vaccines would be relatively easy and safe to conduct.

Sanctions of the USA and the Policy of Bank of Russia:double Blow to the National Economy

2014 ◽  
pp. 13-29 ◽  
Author(s):  
S. Glazyev
Keyword(s):  
National Security ◽  
Economic Sanctions ◽  
Capital Flight ◽  
Practical Advice ◽  
The Us ◽  
Monetary Authorities ◽  
The Usa ◽  
Simultaneous Adoption ◽  
The Eu

This article examines fundamental questions of monetary policy in the context of challenges to the national security of Russia in connection with the imposition of economic sanctions by the US and the EU. It is proved that the policy of the Russian monetary authorities, particularly the Central Bank, artificially limiting the money supply in the domestic market and pandering to the export of capital, compounds the effects of economic sanctions and plunges the economy into depression. The article presents practical advice on the transition from external to domestic sources of long-term credit with the simultaneous adoption of measures to prevent capital flight.

Endurance of Transnationalism in Bolivia’s Valle Alto

2006 ◽  
Vol 3 (1) ◽  
pp. 63-74 ◽  
Author(s):  
Richard C. Jones ◽  
Leonardo De la Torre
Keyword(s):  
Random Sample ◽  
Work Experience ◽  
Household Income ◽  
Return Migration ◽  
Ethnographic Interviews ◽  
The Us ◽  
Foreign Work ◽  
Intentions To Return ◽  
Economic Ties

The increasing difficulty of return migration and the demands for assimilation into host societies suggest a long-term cutting of ties to origin areas—likely accentuated in the Bolivian case by the recent shift in destinations from Argentina to the US and Spain. Making use of a stratified random sample of 417 families as well as ethnographic interviews in the provinces of Punata, Esteban Arze, and Jordán in the Valle Alto region the authors investigate these issues. Results suggest that for families with greater than ten years cumulated foreign work experience, there are significantly more absentees and lower levels of remittances as a percentage of household income. Although cultural ties remain strong after ten years, intentions to return to Bolivia decline markedly. The question of whether the dimunition of economic ties results in long-term village decline in the Valle Alto remains an unanswered.   

Study of Natural Minerals of U-Ryrochlore-Type Structure as Analogues of Plutonium Ceramic Waste-form

2002 ◽  
Vol 713 ◽  
Author(s):  
Roman V. Bogdanov ◽  
Yuri F. Batrakov ◽  
Elena V. Puchkova ◽  
Andrey S. Sergeev ◽  
Boris E. Burakov
Keyword(s):  
Chemical Shifts ◽  
Pyrochlore Structure ◽  
Type Structure ◽  
Waste Form ◽  
X Ray ◽  
Ceramic Waste ◽  
Natural Minerals ◽  
The Us ◽  
Pyrochlore Type

ABSTRACTAt present, crystalline ceramic based on titanate pyrochlore, (Ca,Gd,Hf,Pu,U)2Ti2O7, is considered as the US candidate waste form for the immobilization of weapons grade plutonium. Naturally occuring U-bearing minerals with pyrochlore-type structure: hatchettolite, betafite, and ellsworthite, were studied in orders to understand long-term radiation damage effects in Pu ceramic waste forms. Chemical shifts (δ) of U(Lδ1)– and U(Lβ1) – X-ray emission lines were measured by X-ray spectrometry. Calculations were performed on the basis of a two-dimensional δLá1- and δLδ1- correlation diagram. It was shown that 100% of uranium in hatchettolite and, probably, 95-100% of uranium in betafite are in the form of (UO2)2+. formal calculation shows that in ellsworthite only 20% of uranium is in the form of U4+ and 80% of the rest is in the forms of U5+ and U6+. The conversion of the initial U4+ ion originally occurring in the pyrochlore structure of natural minerals to (UO2)2+ due to metamict decay causes a significant increase in uranium mobility.

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