financial expert
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2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Hamish D. Anderson ◽  
Jing Liao ◽  
Shuai Yue

PurposeEmploying the anti-corruption campaign as an exogenous political shock, this paper examines how political intervention shapes the impact of financial expert CEOs on firm investment decisions.Design/methodology/approachThis paper uses a sample of 2,808 Chinese firms listed in the Shanghai and Shenzhen Stock Exchanges from 2003 to 2016. Panel data is used for conducting the analysis controlling for firm, industry, and year fixed effects.FindingsThe authors found that CEOs with financial expertise are sensitive to political intervention when making investment decisions. First, financial expert CEOs spend more on R&D expenditure in private-owned companies and they are associated with less R&D expenditure in state-owned enterprises (SOEs). Second, financial expert CEOs are associated with higher investment expenditure in general, but they become less likely to invest more in the post-anti-corruption period. The reduction in investment expenditure due to the anti-corruption campaign is more pronounced in SOEs than in private-owned companies. Third, the anti-corruption campaign promotes R&D investment in general, but in SOEs, expert CEOs tend to be less likely to invest more on R&D after the anti-corruption shock.Originality/valueThis paper enriches the growing literature on the impact of political intervention and the role of the anti-corruption campaign on corporate behaviour.


2021 ◽  
Vol 11 (3) ◽  
pp. 1-11
Author(s):  
Saad Azmat ◽  
Ayesha Bhatti ◽  
M. Kabir Hassan

Learning outcomes The case explores Ayesha’s reasoning, who is also a financial expert, regarding how she approaches the question of Riba (interest) so that she can maximize her financial returns and remain true to her religious identity. The discussion in the case revolves around alternate rationalizations as to why Riba (interest) continues to remain important for many Islamic investors. Case overview/synopsis Historically, the prohibition of Riba (interest) prevented the exploitation of the poor borrower who was charged exorbitant interest rates by wealthy lenders. In the modern day, a banking system which operates in a regulated setup and charges market-based interest rates, the rationale regarding the exploitation of the poor seems less compelling. Furthermore, other economic realities such as inflation and currency fluctuations further lend support to protecting one’s investments through prudent financial decisions. In this case the authors approach this decision regarding the prohibition of Riba (interest) in Islam from the point of view of the protagonist, Ayesha Bhatti, who is religiously conscious and is faced with certain personal investment choices. Complexity academic level The case focuses on one of the core issues of Islamic finance (IF), that of the prohibition of charging Riba (interest) on debt and the reasons behind this ruling. The relevance of this prohibition to modern day financial markets is essential to understand IF. Supplementary materials Teaching notes are available for educators only. Subject code CSS 1: Accounting and Finance.


2021 ◽  
Vol 9 (7) ◽  
pp. 30-40
Author(s):  
Mr. P. Jose

Ego is one of the most important elements in human personality and although everyone has ego, people manage their ego differently. Some people take it very seriously and act in a way to retaliate, if their ego is hurt while others think and balance their ego before it builds aggression which would bring their own downfall. Since people are driven by their egocentric mindset, any disgrace, disappointment or failure would hurt their ego which would force them to build aggression, reduce rational thinking and lead them to engage in unethical and illegal acts. When Margayya’s ego was hurt by the secretary of the bank when he insulted him and almost ended his finance career, he wanted to accumulate more wealth. He didn’t worry about the ways and means but focused on the destination and he was guided by his ego that led him to mistreat and disrespect people throughout the novel. His obsession with money and prestige forced him to act rudely that ended his career as one of the best financial wizards. When people are led by their ego, it would lead them to their own downfall and destruction as they would be guided by lack of self-control and distrust on others. His obsession with money led him to show off his superiority in order to defeat the cooperative bank secretary and earn respect in the society. This paper brings out the Psychological influence of ego in Margayya’s character in the novel, The Financial Expert.


2021 ◽  
Vol 24 (2) ◽  
pp. 270-281
Author(s):  
Zabihollah Rezaee ◽  
Kaveh Asiaei ◽  
Toktam Safdel Delooie

Este estudio examina si la experiencia del director general (CEO) y los conocimientos financieros afectan a las reformulaciones financieras (FR), y cómo lo hacen, investigando una muestra de empresas iraníes que cotizan en bolsa entre 2008 y 2017. Definimos a los consejeros delegados con experiencia como aquellos que son contratados desde dentro de la empresa y a los consejeros delegados expertos en finanzas como aquellos que poseen una cualificación contable o tienen experiencia laboral como auditor, director financiero (CFO), controlador u otros puestos relacionados con la contabilidad. Encontramos que FR está positivamente asociado a los CEOs con información privilegiada (CEOs con más experiencia interna), y negativamente asociado a la experiencia financiera del CEO. Además, encontramos que la experiencia del CEO se asocia negativamente con FR cuando el CEO es un experto financiero. Este resultado pone de manifiesto la importancia de la experiencia financiera de los altos ejecutivos. Además, nuestros resultados muestran que los directores generales con información privilegiada pueden mejorar la calidad de la información financiera reduciendo FR cuando tienen mayor poder de decisión. Este estudio contribuye a la literatura sobre las características de los directores generales y la información financiera. Los resultados ofrecen importantes implicaciones para los responsables políticos y los consejos de administración de las economías emergentes en lo que respecta a la exigencia de nombrar a altos directivos con conocimientos financieros. This study examines whether and how Chief Executive Officer (CEO) experience and financial expertise affect financial restatements (FR) by investigating a sample of Iranian listed companies from 2008 to 2017. We define experienced CEOs as those who are hired from inside the firm and financial expert CEOs as those who hold an accounting qualification or have work experience as an auditor, chief financial officer (CFO), controller, and or other accounting-related positions. We find that FR is positively associated with insider CEOs (CEOs with more internal experience), and negatively associated with CEO financial expertise. Moreover, we find that CEO experience is negatively associated with FR when the CEO is a financial expert. This result highlights the importance of financial background for senior executives. Further, our results show that insider CEOs can improve the financial reporting quality through reducing FR when they have higher decision-making power. This study contributes to the literature on CEO characteristics and financial reporting. The results provide important implications for policymakers and the board of directors in emerging economies regarding the requirement to appoint top managers with financial expertise.


2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Haoran Lei ◽  
Xiaojian Zhao

Abstract We incorporate unawareness into the delegation problem between a financial expert and an investor, and study their pre-delegation communication. The expert has superior awareness of the possible states of the world, and decides whether to reveal some of them to the investor. We find that the expert reveals all the possible states to the investor if the investor is initially aware of a large set of possible states, but reveals partially or nothing otherwise. An investor with a higher degree of unawareness tends to delegate a larger set of projects to the expert, giving rise to a higher incentive for the expert to keep her unaware.


2021 ◽  
Vol 9 (4) ◽  
pp. 32-36
Author(s):  
Abel Justine

K. Narayan was one of the pioneers of Indo Anglian fiction along with Mulk Raj Anand and Raja Rao. Their heydays were marked by complicated social issues such as India’s struggle for Independence and the more stressful period afterwards. Among the three, many consider R. K. Narayan as the most realistic in fiction considering Indian settings. The Financial Expert is again considered as Narayan’s masterpiece by many. It’s a well-constructed novel in five parts. The story is focused on three main aspects relating to the central character of Margayya. They are; Margayya’s determination to acquire wealth, his love for his own son Balu and his relationship with his brother and sister in law. It is at times mesmerizing to analyze Narayan’s use of humor and irony in crafting the fate of a normal middle class individual.


Author(s):  
Peter Leibfried

AbstractWhile accounting at first sight always seems to be about numbers only, in reality, it does heavily involve people and culture. Thus, also general management should be open to the respective issues, and not push it into a technical, sometimes even “nerdy” corner. Very often, discussions about numbers are in reality discussions about underlying business or cultural issues. In order to bring them up, the board needs at least one member (financial expert) who is on a level playing field with the CFO and the auditor and will not be distracted by (presumably) complicated technical questions.


2020 ◽  
Vol 10 (1) ◽  
Author(s):  
M. Boersma ◽  
A. Maliutin ◽  
S. Sourabh ◽  
L. A. Hoogduin ◽  
D. Kandhai

Abstract Accounting scandals like Enron (2001) and Petrobas (2014) remind us that untrustworthy financial information has an adverse effect on the stability of the economy and can ultimately be a source of systemic risk. This financial information is derived from processes and their related monetary flows within a business. But as the flows are becoming larger and more complex, it becomes increasingly difficult to distill the primary processes for large amounts of transaction data. However, by extracting the primary processes we will be able to detect possible inconsistencies in the information efficiently. We use recent advances in network embedding techniques that have demonstrated promising results regarding node classification problems in domains like biology and sociology. We learned a useful continuous vector representation of the nodes in the network which can be used for the clustering task, such that the clusters represent the meaningful primary processes. The results show that we can extract the relevant primary processes which are similar to the created clusters by a financial expert. Moreover, we construct better predictive models using the flows from the extracted primary processes which can be used to detect inconsistencies. Our work will pave the way towards a more modern technology and data-driven financial audit discipline.


2020 ◽  
Vol 4 (1) ◽  
pp. 80
Author(s):  
Anita Anita ◽  
Nurkhalifa Fajriya

The purpose of this observation was to empirically examine the effect of ownership structure and board characteristics on company performance. This observation used independent variables namely ownership concentration, state ownership, institutional ownership, managerial ownership, the board size, independent director, independent audit committee, audit committee meeting, and financial expert with the dependent variable as company performance. This observation used sample of 416 companies that are appropriate with the specified characteristics and are listed on the 2014-2018 Indonesia Stock Exchange. This observation analysis data used SPSS and Eviews version 10 programs. From the results of observations produced, the concentration of ownership, independent director, and independent audit committees have significant impact on company performance. While other variables such as state ownership, institutional ownership, managerial ownership, board size, audit committee meetings, and financial expert do not have impact that can affect company performance.


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