Página 1 dos resultados de 96 itens digitais encontrados em 0.212 segundos

Disciplina de mercado e as acumulações contábeis discricionárias; Discipline the market and the discretionary accruals accounting

Marcondes, Darcio Alves
Fonte: Biblioteca Digitais de Teses e Dissertações da USP Publicador: Biblioteca Digitais de Teses e Dissertações da USP
Tipo: Tese de Doutorado Formato: application/pdf
Publicado em 22/12/2008 PT
Relevância na Pesquisa
45.47%
Os depositantes, ao aplicarem seus recursos nos bancos, delegam a estes a função de monitoramento dos tomadores de empréstimos e, com isso, podem concentrar seus esforços em monitorar a instituição bancária. A disciplina de mercado ex-post é exercida na eventualidade de os bancos assumirem riscos excessivos, e de os depositantes, ao serem informados de tal fato, serem capazes de agir no sentido de disciplinar os bancos, seja pela requisição de taxas de juros mais elevadas, seja pelo saque de seus depósitos. A disciplina de mercado ex-ante é exercida sobre os gestores dos bancos que, conhecedores das conseqüências de assumirem riscos excessivos para suas instituições, preferem não tomar essa atitude. Um dos veículos de informação para o exercício do monitoramento, e subsídio para as ações de disciplinamento, são os demonstrativos contábeis divulgados periodicamente. A aplicação dos princípios contábeis faculta ao gestor o exercício da discricionariedade na apuração das acumulações contábeis, accruals. Essa possibilidade permite que a discricionariedade seja exercida de forma oportunística, prática conhecida genericamente na literatura contábil como manipulação contábil / gerenciamento de resultados...

Portuguese banks and the economic adjustment programme: balance sheet adjustments and impact on profitability

Grigiac, Yonathan
Fonte: Universidade Nova de Lisboa Publicador: Universidade Nova de Lisboa
Tipo: Dissertação de Mestrado
Publicado em /05/2014 ENG
Relevância na Pesquisa
45.42%
Double Degree. A Work Project presented as part of the requirements for the Award of a Masters Degree in Management from the NOVA – School of Business and Economics and a Masters Degree in Finance from Louvain School of Management; This thesis studies the different strategies and initiatives followed by Portuguese banks to achieve the targets set by the economic adjustment programme and their impact on the banking sector’s profitability. I analyse what banks have undertaken in terms of capital level and other sources of financing. I also address the issue of deleveraging by studying the evolution of the loan portfolio as well as risk weighted assets. Finally, I analyse the impact of those changes on the bank’s net interest incomes and cost to income ratio. Using a sample composed of four major Portuguese banks, I conclude that banks have become safer but still need to make some effort to achieve stability.

Related Lending and Banking Development

Cull, Robert; Haber, Stephen; Imai, Masami
Fonte: Banco Mundial Publicador: Banco Mundial
Relevância na Pesquisa
45.5%
Does related lending have positive or negative effects on the development of banking systems? This paper analyzes a unique cross-country data set covering 74 countries from 1990 to 2007, and finds that related lending, on average, does not have any effect on the growth of credit. The authors do find, however, that there are conditional relationships: related lending tends to retard the growth of banking systems when rule of law is weak, while it tends to promote the growth of banking systems when rule of law is strong. They also find that related lending appears to be associated with looting when banks are owned by non-financial firms, but that it does not when non-financial firms are owned by banks. The results indicate that whether related lending is positive or pernicious depends critically on the institutional context in which it takes place; there is no single "best policy" regarding related lending. These findings are robust to alternative specifications, including instrumental variable regressions.

Payment Systems, Inside Money and Financial Intermediation

Merrouche, Ouarda; Nier, Erlend
Fonte: Banco Mundial Publicador: Banco Mundial
Relevância na Pesquisa
35.54%
This paper assesses the impact of introducing an efficient payment system on the amount of credit provided by the banking system. Two channels are investigated. First, innovations in wholesale payments technology enhance the security and speed of deposits as a payment medium for customers and therefore affect the split between holdings of cash and the holdings of deposits that can be intermediated by the banking system. Second, innovations in wholesale payments technology help establish well-functioning interbank markets for end-of-day funds, which reduces the need for banks to hold excess reserves. The authors examine these links empirically using payment system reforms in Eastern European countries as a laboratory. The analysis finds evidence that reforms led to a shift away from cash in favor of demand deposits and that this in turn enabled a prolonged credit expansion in the sample countries. By contrast, while payment system innovations also led to a reduction in excess reserves in some countries...

Basel Core Principles and Bank Soundness : Does Compliance Matter?

Demirgüç-Kunt, Asli; Detragiache, Enrica
Fonte: Banco Mundial Publicador: Banco Mundial
Relevância na Pesquisa
45.52%
This paper studies whether compliance with the Basel Core Principles for effective banking supervision is associated with bank soundness. Using data for more than 3,000 banks in 86 countries, the authors find that neither the overall index of compliance with the Basel Core Principles nor the individual components of the index are robustly associated with bank risk measured by Z-scores. The results of the analysis cast doubt on the usefulness of the Basel Core Principles in ensuring bank soundness.

Bank Competition and Financial Stability : Friends or Foes?

Beck, Thorsten
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Relevância na Pesquisa
45.53%
Theory makes ambiguous predictions about the relationship between market structure and competitiveness of the banking system and banking sector stability. Empirical studies focusing on individual countries provide similarly ambiguous results, while cross-country studies point mostly to a positive relationship between competition and stability in the banking system. Where liberalization and unfettered competition have resulted in fragility, this has been mostly the consequence of regulatory and supervisory failures. The advantages of competition for an efficient and inclusive financial system are strong, and regulatory and supervisory policies should focus on an incentive-compatible environment for banking rather than try to fine-tune market structure or the degree of competition.

Who Gets the Credit? And Does It Matter? Household vs. Firm Lending across Countries

Beck, Thorsten; Büyükkarabacak, Berrak; Rioja, Felix; Valev, Neven
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Relevância na Pesquisa
35.52%
While the theoretical and empirical finance literature has focused almost exclusively on enterprise credit, about half of credit extended by banks to the private sector in a sample of 45 developing and developed countries is to households. The share of household credit in total credit increases as countries grow richer and financial systems develop. Cross-country regressions, however, suggest a positive and significant impact on gross domestic product per capita growth only of enterprise but not household credit. These two findings together partly explain why previous studies have found a small or insignificant effect of finance on growth in high-income countries. In addition, countries with a lower share of manufacturing, a higher degree of urbanization, and more market-oriented financial systems have a higher share of household credit. It is thus mostly socio-economic trends that determine credit composition, while policies influencing banking market structure and regulatory policies are not robustly related to credit composition.

Market Power and the Matching of Trade Credit Terms

Fabbri, Daniela; Klapper, Leora
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Relevância na Pesquisa
45.43%
This paper studies the decision of firms to extend trade credit to customers and its relation with their financing decisions. The authors use a novel firm-level database of Chinese SMEs with unique information on market power in both output and input markets and on the amount, terms, and payment history of trade credit simultaneously extended to customers (accounts receivable) and received from suppliers (accounts payable). The analysis shows that suppliers with relatively weaker market power are more likely to extend trade credit and have a larger share of goods sold on credit. Examination of the importance of financial constraints reveals that access to bank financing and profitability are not significantly related to trade credit supply. Rather, firms that receive trade credit from their own suppliers are more likely to extend trade credit to their customers, and to "match maturity" between the contract terms of payables and receivables. This matching practice is more likely used when firms face strong competition in the product market (relative to their customers)...

Expanding Access to Housing Finance : Task 1. Business and Sustainability Plan for Affordable Housing Finance Pilot Projects

Merrill, Sally; Kayiira, Duncan; Kalema, William
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
EN_US
Relevância na Pesquisa
45.47%
The objective of the First Initiative Project in Uganda is to expand the access of households to housing finance, especially modest and lower income households, by introducing new and innovative housing loan products, by introducing innovative loan products combined with affordable housing designs. The project has delivered two studies to the Bank of Uganda: i) a study addressing the financial and banking sector context for housing finance, liquidity and liquidity management, and the resultant potential for use of retail funds for mortgage lending; and ii) a feasibility study for housing finance pilots targeted at modest and lower income households, seeking to introduce innovative loan products combined with lower cost house design in a planned urban setting. This paper, business and sustainability plan for affordable housing finance pilot projects, provides supporting technical detail for the feasibility study for design of pilot projects for modest and lower income households, including the need for more liquidity for lenders involved in lending to lower income households. Two types of pilot projects have been developed: one for starter homes for modest income households and one for an incrementally built home for low-modest income households. The recommended loan products include a down-market or...

Bank Lending to Small and Medium Enterprises : The Republic of Serbia

World Bank
Fonte: Washington, DC Publicador: Washington, DC
EN_US
Relevância na Pesquisa
45.57%
This report presents findings of a study of Bank lending to small and medium enterprises (SME) in Serbia. The study uses methodology developed by the Bank and already used in a number of studies in South America. The study is based on answers to standard questionnaires and detailed on-site interviews with eight banks. The interviewed banks are the most active in SME lending in Serbia and account for about 70 percent of the total market. Banks are currently offering a fairly broad range of both tailored and standardized products and are increasingly flexible with product pricing. This includes checking, savings and time deposit accounts; export and import loans; overdrafts for working capital and investment loans; business credit cards; various types of payment services; Internet and phone banking. The report is organized as follows: section two describes the banking sector and markets in Serbia, reviews definition of SMEs and provides key characteristics of the SME finance market in Serbia. Section three discusses details of SME access to finance. It describes the drivers and obstacles...

Financing Small and Medium Enterprises in the Republic of South Africa

Fuchs, Michael; Iacovone, Leonardo; Jaeggi, Thomas; Napier, Mark; Pearson, Roland; Pellegrini, Giulia; Villegas Sanchez, Carolina
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
EN_US
Relevância na Pesquisa
35.54%
Numerous studies worldwide have highlighted the important contribution made by small and medium-sized enterprises (SMEs) to employment, income and economic growth. In a study of 76 developed and developing economies, Ayyagari and others (2007) found that SMEs account for more than 60 percent of total manufacturing employment and that SMEs contributed significant proportions of Gross Domestic Product (GDP). SME growth requires external financing, but constraints to accessing credit, consistently rated as some of the greatest barriers to the operation and growth of firms, affect SMEs more severely than large firms (Beck and Demirguc-Kunt 2006; Beck and others 2006). The purposes of this report are to: a) analyze the availability of bank finance to SMEs in South Africa and how availability might be enhanced in the context of the economic downturn; and b) offer concrete policy recommendations on how to lessen obstacles to bank SME financing and reduce the negative effects of the economic downturn (or of a similar downturn in future) on access to finance. The report is structured in 5 sections: section two provides a short overview of existing studies and data on SME finance in South Africa. Section three presents the main results of the surveys. Section four provides policy considerations. Section five concludes.

Lending Concentration, Bank Performance and Systemic Risk : Exploring Cross-Country Variation

Beck, Thorsten; De Jonghe, Olivier
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
EN_US
Relevância na Pesquisa
45.55%
Using both market-based and annual report-based approaches to measure lending specialization for a broad cross-section of banks and countries over the period 2002 to 2011, this paper is the first to empirically gauge the relationship between bank lending specialization and bank performance and stability in an international sample. Theory suggests that banks might benefit from specialization in the form of higher screening and monitoring efficiency, while a diversified loan portfolio might also enhance stability. This paper finds that sectoral specialization increases volatility and systemic risk exposures, while not leading to higher returns. The paper also documents important time, cross-bank, and cross-county variation in this relationship, which is stronger post 2007, for richer countries, countries without regulatory requirements on diversification, banks with lower market power, and banks with more traditional intermediation models.

The Incentive-Compatible Design of Deposit Insurance and Bank Failure Resolution : Concepts and Country Studies

Beck, Thorsten
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
EN_US
Relevância na Pesquisa
35.53%
Deposit insurance schemes and bank failure resolution systems are asked to fulfill conflicting public policy objectives: on the one hand, they are supposed to protect small depositors and prevent contagion risks from bank runs; on the other hand, they are supposed to minimize aggressive risk taking by banks. Beck discusses the incentive-compatible design and interaction of both components of the financial safety net and describes and compares three countries with different safety net arrangements-Brazil, Germany, and Russia.

Essays on corporate governance and banking

Boyallian, Patricia
Fonte: Universidade Carlos III de Madrid Publicador: Universidade Carlos III de Madrid
Tipo: Tese de Doutorado
ENG
Relevância na Pesquisa
45.37%
This dissertation consists of three empirical essays related to corporate governance and banking. The first essay, entitled Independent or co-opted? Corporate directors with ties to the nonprofit sector, studies the relation of independence and firm outcome, and focuses on independent directors that also belong to a nonprofit organization. Independent directors who also sit at boards of non-profit organizations (NPOs) may contribute valuable knowledge to their firms or possess personality traits that enhance their value as monitors. However, they may also be prone to be co-opted by the CEO with promises of donations to the NPO of their interest. This paper studies whether independent director’s links with NPOs affect their performance by analyzing how the presence of NPO-linked directors affects firm value, CEO pay and earnings management. To identify the causal effect of NPO-linked directors I use the retirement of independent directors as a source of exogenous variation in the composition of the board and its committees. I find that the participation of NPO-linked directors at the compensation committee is significant in terms of firm value, level of pay and compensation structure. The sign of the effect will depend on managerial power...

Bank Bailouts, Competition, and the Disparate Effects for Borrower and Depositor Welfare

Calderon, Cesar; Schaeck, Klaus
Fonte: World Bank, Washington, D.C. Publicador: World Bank, Washington, D.C.
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
ENGLISH; EN_US
Relevância na Pesquisa
45.57%
This paper investigates how government interventions into banking systems such as blanket guarantees, liquidity support, recapitalizations, and nationalizations affect banking competition. This debate is important because the pricing of banking products has implications for borrower and depositor welfare. Exploiting data for 124 countries that witnessed different policy responses to 41 banking crises, and using difference-in-difference estimations, the paper presents the following key results: (i) Government interventions reduce Lerner indices and net interest margins. This effect is robust to a battery of falsification and placebo tests, and the competitive response also cannot be explained by alternative forces. The competition-increasing effect on Lerner indices and net interest margins is also confirmed once the non-random assignment of interventions is accounted for using instrumental variable techniques that exploit exogenous variation in the electoral cycle and in the design of the regulatory architecture across countries. (ii) Consistent with theoretical predictions...

Financial Sector Policy Note : Financing Small and Medium-Sized Businesses in Burkina Faso

Soubeiga, Sidiki; Strauss, Jeremy
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Economic & Sector Work :: Policy Note
ENGLISH; EN_US
Relevância na Pesquisa
45.55%
As in other Sub-Saharan African countries, small and medium-sized enterprises (SMEs) represent the vast majority of firms operating in the private sector in Burkina Faso. Private sector-led growth is a major element of Burkina Faso's poverty reduction strategy, la strategie de croissance accelere et le developpement durable. Unfortunately, many characteristics of Burkina Faso's business environment, and of businesses themselves, make private sector-led growth a challenge. This financial sector policy note focuses on the market for credit and closely related financial services, how private banks are providing these services to SMEs, and recommendations that address problems they are having. This requires understanding the behavior of banks with respect to SME lending, particularly investment lending and related financial products like leasing, guarantees, microcredit, and subsidized credit funds. This policy note consists of a study and survey of commercial banks and two non-bank financial institutions (NBFIs) (Burkina Bail and Societe Financiere de Garantie Interbancaire du Burkina (SOFIGIB) focusing on lending to SMEs. It focuses on the supply side of the market. The survey and accompanying interviews took place during the summer of 2013. Twelve private banks and five NBFIs were asked to participate in the study and survey. The study references two additional surveys focused on SMEs: (1) the 2009 World Bank enterprise survey...

Bank Financing of SMEs in Five Sub-Saharan African Countries : The Role of Competition, Innovation, and the Government

Berg, Gunhild; Fuchs, Michael
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
ENGLISH; EN_US
Relevância na Pesquisa
35.52%
This paper provides an overview of the state of access to bank financing for SMEs in five Sub-Saharan African countries and analyzes the drivers behind banks' involvement with SMEs. The paper builds on data collected through five in-depth studies in Kenya, Nigeria, Rwanda, South Africa, and Tanzania between 2010 and 2012. The paper shows that the share of SME lending in the overall loan portfolios of banks varies between 5 and 20 percent. Reasons for this finding vary, but key contributing factors are the structure and size of the economy and the extent of Government borrowing, the degree of innovation mainly as introduced by foreign entrants to financial sectors, and the state of the financial sector infrastructure and enabling environment.

Banking on the Principles : Compliance with Basel Core Principles and Bank Soundness

Demirgüç-Kunt, Aslı; Detragiache, Enrica; Tressel, Thierry
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
ENGLISH
Relevância na Pesquisa
35.54%
This paper studies whether compliance with the Basel Core Principles for Effective Banking Supervision (BCP) improves bank soundness. BCP compliance assessments provide a unique source of information about the quality of bank supervision and regulation around the world. The authors find a significant and positive relationship between bank soundness (measured with Moody's financial strength ratings) and compliance with principles related to information provision. Specifically, countries that require banks to report regularly and accurately their financial data to regulators and market participants have sounder banks. This relationship is robust to controlling for broad indexes of institutional quality, macroeconomic variables, sovereign ratings, as well as reverse causality. Measuring soundness through z-scores yields similar results. The findings emphasize the importance of transparency in making supervisory processes effective and strengthening market discipline. Countries aiming to upgrade banking regulation and supervision should consider giving priority to information provision over other elements of the Core Principles.

Quality Determinants of Independent Audits of Banks

Dantas,José Alves; Medeiros,Otavio Ribeiro de
Fonte: Universidade de São Paulo, Faculdade de Economia, Administração e Contabilidade, Departamento de Contabilidade e Atuária Publicador: Universidade de São Paulo, Faculdade de Economia, Administração e Contabilidade, Departamento de Contabilidade e Atuária
Tipo: Artigo de Revista Científica Formato: text/html
Publicado em 01/04/2015 EN
Relevância na Pesquisa
45.44%
Since DeAngelo's study (1981) on audit quality, the latter has been a topic well discussed in the international accounting literature; however, there is little evidence about audit quality in the financial market. In Brazil, studies on audit quality began only in the 2000s, although without a specific focus on banks. The purpose of this study was to identify the quality determinants of audit work in Brazilian banking institutions. Using the practice of earnings management as a proxy for audit quality - more specifically, the discretionary accruals related to the process of the constitution of the Loan Loss Provision (LLP) - tests were performed based on the quarterly information of commercial and multipleservice banks and savings banks from 2001 to 2012. Empirical tests have shown that the quality of audit work has several types of relationships as follows: negative with the client importance level for the auditor; negative with the works after the sixth year of the contract; positive with the establishment of the Audit Committee by the banks; positive with the judgment of punitive administrative proceedings against independent auditors; and positive with the level of rigor of the regulatory environment. Of the tested hypotheses, three were not confirmed empirically. The first hypothesis predicted an association between audit quality and the auditor degree of specialization in the banking industry. The second hypothesis predicted that audit quality would be negatively correlated with the degree of concentration of audit activity within the National Financial System (Sistema Financeiro Nacional - SFN). The third hypothesis predicted that audit quality would be lower when the auditorclient relationship is of a short term. The results of the study contribute to the debate concerning the role of auditors in the transparency and solidity of the financial system...

Global practices and local interests: Implementing technology-based change in a developing country context.

Bada, Abiodun O
Fonte: London School of Economics and Political Science Thesis Publicador: London School of Economics and Political Science Thesis
Tipo: Thesis; NonPeerReviewed Formato: application/pdf
Publicado em //2000 EN
Relevância na Pesquisa
45.31%
The guiding principle of this research is that the utilisation of information technology (IT) in any part of the world currently is taking place within the globalisation trends. The need to take a wider view of IT use has become important due to the ease with which IT and associated management practices now pervade countries. These practices, developed in the 'west' and applied in countries around the world, are becoming increasingly universal as a result of the globalisation process. The Nigerian economy was deregulated towards the end of the 1980s and different sectors of the economy - including banking - were liberalised with a view to promoting competition and efficiency. In the face of these environmental changes, organisations in Nigeria have, over the past few years, been investing extensively in IT and adopting global IT-based practices. Although studies have discussed the importance of adapting these global practices to suit the context of their implementation, few have actually focused on revealing the nature of these adaptations and the factors influencing them. The overall aim of this study, therefore, is to increase understanding of why and how adaptations take place, and what results are achieved. This understanding is achieved in the thesis by incorporating ideas from both resource-based theory and new institutional theory within a contextualist framework...