scholarly journals Central counterparties – risk minimizers?

2018 ◽  
Vol 2 (4) ◽  
pp. 87
Author(s):  
Magdalena Maria Kozińska
Keyword(s):  
Content Analysis ◽  
Financial Markets ◽  
Research Methods ◽  
Critical Analysis ◽  
Positive Impact ◽  
Too Big To Fail ◽  
Market Participants ◽  
Central Counterparties ◽  
Risk Managers ◽  
Desk Research

Aim: Recently, central counterparties (CCPs) have gained on popularity due to their positive impact on the financial markets during crisis (limiting contagion on cleared instruments). The post-crisis reforms favored CCPs as risk minimizers. The aim of the article is to critically assess the functioning of the CCPs and their role in the financial system.Design / Research methods: In order to attain the article’s goal, the critical analysis of the CCPs’ activity was performed. For that purpose, the regulations and mechanisms for CCPs’ functioning were considered. The next step was the analysis of the scale of CCPs’ activity and dependencies between CCPs and various market participants based on the accessible data. Based on the desk research and content analysis, the risks of CCPs were derived.Conclusions / findings: CCPs are not risk minimizers, but they are risk managers (redistributors). Moreover, due to the significant increase in the their importance for the stable functioning of the financial markets, they should be treated as too big to fail institutions.Originality / value of the article: The literature, especially polish, regarding the assessment of the CCPs’ roles and functions is relatively scarce, especially concerning the potential dangers conneted with them. The article contains the unbiased assessment of CCPs’ impact on the financial markets and proposes inventive treatment of CCPs as risk redistributors, which are too big to fail.

scholarly journals Teachers’ Opinions Regarding the Usage of Action Research in Professional Development

2017 ◽  
Vol 5 (2) ◽  
pp. 243 ◽  
Author(s):  
Celal Yigit ◽  
Birsen Bagceci
Keyword(s):  
Professional Development ◽  
Qualitative Research ◽  
Content Analysis ◽  
Action Research ◽  
Research Methods ◽  
Working Group ◽  
Positive Impact ◽  
Analysis Technique ◽  
Teachers Professional Development

The aim of the study is to investigate the contribution of action research to teachers’ professional development. In line with this goal, a group of teachers were asked their opinions. The working group of the study is comprised of six teachers working at a state primary and middle school. The study is an example of “Case Study”, one of qualitative research methods. The content analysis technique was utilized in the analysis of the data. To sum up, the teachers expressed that action research had a positive impact on their professional development in various aspects.

Through the Lens of Recession 2.0: Diversification Dynamics Between the Leading Asian Stock Markets

2021 ◽  
pp. 097226292098395
Author(s):  
Manu K. S. ◽  
Surekha Nayak ◽  
Rameesha Kalra
Keyword(s):  
Stock Market ◽  
Stock Markets ◽  
Market Integration ◽  
Developing Economies ◽  
Positive Impact ◽  
Global Market ◽  
Stock Market Integration ◽  
Developed Economies ◽  
Market Participants ◽  
Causality Tests

The focus of this article is to analyse the inter-linkages between eight leading stock markets in Asian continent from the period of July 2011 to February 2018. This period holds relevance as this was the time when Recession 2.0 set in, which adversely affected the developed economies; however, the developing economies withstood the crisis without much of an impact. Co-integration and Granger causality tests were conducted to probe the inter-linkages. Study revealed a positive impact on Asian stock market indices collectively on each of the indexes. The highest number of unidirectional causalities was to KOPSI and NIFTY from rest of the stock indices. Results confirmed that no co-integration relationship existed among the selected indices indicating favourable diversification opportunities. Thus, the study fosters global market participants and policymakers to consider the nitty-gritties of stock market integration so as to benefit from international stock market diversification in the Asian region.

ENTREPRENEURSHIP EDUCATION: A SYSTEMATIC REVIEW OF THE METHODS IN IMPACT STUDIES

2013 ◽  
Vol 21 (02) ◽  
pp. 123-151 ◽  
Author(s):  
MICHAEL LORZ ◽  
SUSAN MUELLER ◽  
THIERRY VOLERY
Keyword(s):  
Systematic Review ◽  
Literature Review ◽  
Research Methods ◽  
Systematic Literature Review ◽  
Positive Impact ◽  
Reliability And Validity ◽  
Entrepreneurship Education ◽  
Impact Studies ◽  
Entrepreneurial Attitudes ◽  
The Impact

The majority of studies that analyze the impact of entrepreneurship education on entrepreneurial attitudes, intentions, and venture activities report positive influences. However, several scholars have recently cast doubts about research methods and the generalizability of entrepreneurship education impact studies. In this study, we conducted a systematic literature review of the methods used in entrepreneurship education impact studies. Our results uncover significant methodological deficiencies and question the overwhelmingly positive impact of entrepreneurship education. Based on this evidence, we propose a series of recommendations to improve the reliability and validity of entrepreneurship education impact studies and we outline promising topics which are currently under-researched.

The Capital Market Authority Effectiveness in the Regulation of Financial Markets perspectives from the financial sector actors

2012 ◽  
Vol 02 (11) ◽  
pp. 15-24
Author(s):  
Charles Kombo Okioga
Keyword(s):  
Financial Markets ◽  
Financial Market ◽  
Capital Markets ◽  
Capital Market ◽  
Financial Regulation ◽  
International Standards ◽  
Market Regulation ◽  
Financial Market Regulation ◽  
Market Participants ◽  
New Business

Capital Market Authority in Kenya is in a development phase in order to be effective in the regulation of the financial markets. The market participants and the regulators are increasingly adopting international standards in order to make the capital markets in sync with those of developed markets. New products are being introduced and new business lines are being established. The Capital Markets Authority (Regulator) is constantly reviewing existing regulations and recommending changes to regulate the market properly. Business lines and activities are being harmonized by market participants to provide a one stop solution in order to meet the financial and securities services needs of the investors. The convergence of business lines and activities of market intermediaries gives rise to the diversity of a firm’s business operations to meet multiplicity of regulations that its activities are subject to. The methodology used in this study was designed to examine the relationship between capital markets Authority effective regulation and the performance of the financial markets. The study used correlation design, the study population consisted of 30 employees in financial institutions regulated by Capital Markets Authority and 80 investors. The study found out that effective financial market regulation has a significant relationship with the financial market performance indicated by (r=0.571, p<0.01) and (r=0.716, p≤0.01, the study recommended a further research on the factors that hinder effective financial regulation by the Capital Markets Authority.

scholarly journals A Critical Analysis of Legal Aid in Bangladesh

2014 ◽  
Vol 2 (1) ◽  
pp. 139
Author(s):  
Md. Nannu Mian ◽  
Md. Mamunur Rashid
Keyword(s):  
Financial Crisis ◽  
Research Methods ◽  
Critical Analysis ◽  
Poverty Line ◽  
Legal Rights ◽  
Legal Knowledge ◽  
Legal Aid ◽  
The Poor ◽  
Analytical Research ◽  
The Government

Legal aid is essentially a mechanism that enables the poor and the vulnerable sectors of the society to be able to enforce their legal rights in order to access a fair and equitable justice in the society. Nowadays, a legal aid can be justifiably said as a crying need to ensure social and legal justice in Bangladesh because most of the citizens are illiterate and they live below the poverty line which incidentally makes matters worse. Due to their financial crisis or lack of legal knowledge they are often precluded to access justice. In recognizing the legal aid as a right, the government has enacted some laws. However, unfortunately those laws are full of weaknesses, loopholes, and procedural complexities which have to be judiciously addressed in the proper legal perspectives. As a matter of fact, legally speaking, much has been said and done, but ironically not much has been practiced. Due to these ever unsettling defects, the ultimate objectives of those laws have frequently failed to ensure enjoyment of the legal aid services among the vulnerable sectors of the society. In this research, an attempt has been made to analyze and find out numerous legal the gaps, loopholes and complexities of the existing laws relating to legal aid services in Bangladesh and frame out a comprehensive solution for ensuring the aid program by adopting the qualitative and the analytical research methods.

scholarly journals The Transformation of DSN-MUI Fatwa in The Unit-Linked Products: A Contemporary Analysis

2020 ◽  
Vol 17 (2) ◽  
pp. 299-322
Author(s):  
Atik Abidah
Keyword(s):  
Content Analysis ◽  
Research Methods ◽  
Legal System ◽  
Transformation Process ◽  
Insurance Companies ◽  
Analysis Techniques ◽  
Library Research ◽  
Laws And Regulations

This article aims to review more concretely how the fatwa position of DSN-MUI toward Sharia Insurance in Indonesia's legal system and how this fatwa is transformed by insurance companies in the form of Unit Link products. Researchers used library research methods, comparative and correlative approaches, and content analysis techniques to answer this. Based on the analysis, the position of the fatwa of DSN-MUI toward Sharia Insurance is hierarchically equivalent to the position of the laws and regulations based on the provisions stated in Article 1 paragraph 3 of Law No. 40 of 2014 on Insurance. Furthermore, from the aspect of transformation, it is found that there are three patterns of transformation used by insurance companies; there are patterns of adoption, expansion, and narrowing. The narrowing pattern is widely used because of the technical nature of the Unit Link. However, from the aspect of conformity with the fatwa, after the transformation process is carried out, especially in the fatwa of the DSN-MUI regarding wakalah bil ujrah by expanding the meaning of ujrah, it is resulted in deviations from sharia principles, especially considering the types of ujrah as stated in a limited manner in the fatwa. wakalah bil ujrah. This research contributes to providing a way to resolve the implementation of Unit Link.Artikel ini bertujuan untuk mengulas secara lebih konkrit bagaimana posisi fatwa DSN-MUI tentang Asuransi Syariah dalam sistem hukum di Indonesia dan bagaimana fatwa ini ditransformasikan oleh perusahaan asuransi dalam produk unit link. Untuk menjawab hal ini, peneliti menggunakan metode library research, pendekatan komparatif dan korelatif serta teknik content analysis. Berdasarkan analisis yang telah dilakukan, hasil penelitian menunjukkan bahwa kedudukan fatwa DSN-MUI tentang Asuransi Syariah secara hierarkis setara dengan kedudukan peraturan perundang-undangan berdasarkan ketentuan yang tersurat dalam Pasal 1 ayat 3 UU No. 40 Tahun 2014 tentang Perasuransian. Selanjutnya, dari aspek transformasi, ditemukan tiga pola transformasi yang digunakan oleh perusahaan asuransi yakni pola adopsi, perluasan, dan penyempitan. Pola penyempitan banyak digunakan lantaran sifat teknis dari unit link. Sedangkan dari aspek kesesuaian dengan fatwa setelah dilakukan proses transformasi, khususnya dalam fatwa DSN-MUI tentang wakalah bil ujrah dengan melakukan perluasan makna ujrah mengakibatkan adanya penyimpangan terhadap prinsip syariah khususnya tentang jenis ujrah sebagaimana disebutkan secara limitatif dalam fatwa wakalah bil ujrah. Penelitian ini berkontribusi dalam memberikan jalan penyelesaian implementasi unit link yang selama ini dianggap bermasalah.

scholarly journals What is a 'Real' Transaction? Infrastructures, relations and Spoofing in High-Frequency Trading

2016 ◽  
Author(s):  
Juan Pablo Pardo Guerra
Keyword(s):  
Financial Markets ◽  
High Frequency ◽  
High Frequency Trading ◽  
Market Behavior ◽  
Digital Platforms ◽  
Market Participants

Although an old and rare practice, spoofing has re-emerged as a subject ofintense debate within modern financial markets. An activity entailing thefraudulent creation of orders to buy and sell securities with the purposeof manipulating the market, spoofing highlights the multiple and complexmoral valences of contemporary, automated, finance. In this paper, I studyspoofing as an opportunity to understand markets and their relations ofexchange. In particular, by extending Weberian metaphors of markets asmoral and organizational communities, I examine how the courts and marketparticipants distinguish the ‘false’ transactions of spoofing from the‘real’ exchanges of 'normal' market behavior. Combining Marilyn Strathern’stheoretical discussion of the anthropological relation with recentliteratures on infrastructures and markets, I argue that the perceivedreality of transactions is a product of how novel forms of economicknowledge are able to make sense of ‘taken for granted’ behavioral patternswithin digital platforms of market action. The intent that constitutes‘real’ trades is therefore a product of how market participants, economicexperts and the courts interpret the operational underbelly of markets andthe relations that they produce.

scholarly journals Educational supervisors’ opinions about their fields of taskMaarif müfettişlerinin görev alanlarına ilişkin görüşleri

2018 ◽  
Vol 14 (4) ◽  
pp. 5008
Author(s):  
Ahmet Yurdakul ◽  
Türkay Nuri Tok
Keyword(s):  
Content Analysis ◽  
Research Methods ◽  
Communication Skills ◽  
Full Text ◽  
English Abstract ◽  
Four Dimensions ◽  
Interview Method ◽  
Educational Supervisor

The aim of this study is to present the opinions of educational supervisors on their job and development of the quality of supervision. To achieve this goal interview method which is one of the qualitive research methods was used. Data were collected from seven educational supervisor with an half-built  interview form. Then content analysis was done. According to the results It was found that educational supervisors opinions are collected under four dimensions; “opinions about guidance role, opinions about supervision role, opinions about carrying out guidance and supervision role together and opinions about improvement of supervision”. According to the results It was found that educational supervisors think that “ they cannot perform their guidance role sufficiently, they encounter with difficulties while performing supervision role, their roles are contradicted and their guidance role and supervision role should be seperated. And according to this data It is propsed that supervisors’ class supervision should be provided, the legistlation which will lead them to achieve the information and documents easily while supervision stage should be organized, the organizations about taking statements should be done, their supervision role and guidance role should be seperated and supervisors should be careful on their communication skills in order to break the prejiduces about them.Extended English abstract is in the end of Full Text PDF (TURKISH) file. ÖzetBu araştırmanın amacı denetim sisteminin en önemli aktörleri olan eğitim denetmenlerinin görev alanlarına ve denetimin niteliğinin geliştirilmesine ilişkin görüşlerini ortaya koymaktır. Bu amacı gerçekleştirmek için nitel araştırma yöntemlerinden görüşme tekniği kullanılmıştır. Veriler yedi maarif müfettişinden yarı yapılandırılmış görüşme formu ile toplanmıştır. Daha sonra veriler içerik analizine tabi tutulmuştur. İçerik analizi sonucunda maarif müfettişlerinin görüşlerinin “rehberlik görevi ile ilgili görüşler, soruşturma görevi ile ilgili görüşler, rehberlik ve soruşturma görevinin bir arada yürütülmesi ile ilgili görüşler ve denetimin geliştirilmesine ilişkin görüşler” olarak dört ana tema altında toplandığı görülmüştür. Çalışmanın sonucuna göre maarif müfettişlerinin rehberlik görevini yeterince yerine getiremediklerini, soruşturma görevlerini yerine getirirken birçok zorlukla karşılaştıklarını, görev alanlarının birbiriyle çeliştiğini ve denetimin gelişmesi için görev alanlarının birbirinden ayrılması gerektiğini düşündükleri ortaya çıkmıştır. Elde edilen sonuçlara dayalı olarak müfettişlerin; ders denetimi yapabilmesinin yolunun açılması, soruşturma yaparken bilgi ve belgelere daha kolay ulaşabilmeleri için gerekli yasal düzenlemelerin yapılması, ifade alabilmelerinin kolaylaştırılması için gerekli düzenlemeler yapılması, rehberlik görevleriyle soruşturma görevleri birbirinden ayrılması ve kendileri hakkında oluşan olumsuz ön yargıları kırmak için iletişim becerilerine özen göstermesi gerektiği önerileri getirilmiştir.

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