Corporate Governance and Business Performance. Theories and Evidence about Corporate Governance

The subject of this book was corporate governance. The authors’ contributions include laws, regulations, corporate management, legislation, shareholders, Corporate Regulation, performance remuneration, London Stock Exchange, accountability, non-compliant business, financial structure, cashflows, agency costs, institutional shareholders, tax benefits, financial repolting, corporate control market, econometric model, economic gains, quasi-equilibrium business, financial repolting, corporate control market, econometric model, economic gains, quasi-equilibrium business, Anglo-Saxon regime, social ties, real estate portfolios, bubble economy, financial system, financial encumbrance, trade, capital markets, privatisation, fragmented regulation, monopoly, foreign exchange This book includes a variety of resources that are appropriate for teachers, scholars, and academicians.

Author(s) Details

Aws AlHares
School of Business Management and Information Technology, College of the North Atlantic, Qatar.

Gerard Dominic
School of Business Management and Information Technology, College of the North Atlantic, Qatar.

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Proceedings of the 6th International Conference on Business and Management Dynamics

This book covers various fields such as digital sophistication, brand management, branding, cross-country research, omnichannel, leadership style, creative behaviour, creativity, components, South Africa, Black Friday, consumer value, customer loyalty, Generation Y, cognitive resources, quality of service, dimensions of service quality, customer satisfaction, airports, structuring, quick-cash, utility maximizers, HR practitioners, recruitment, sustainability, institutional philosophy, atmosphere, policy, five main personality factors, work satisfaction, job efficiency, access to finance, infrastructure, management skills, education level, small business enterprise, entrepreneurship, youth entrepreneurship, Chad, support for entrepreneurship, marketing communication resources (advertising, personal sales, advertising), SMEs, Retail Companies, Sustainable Development Goals (SDGs), Professional Sport, Socially Responsible Marketing, Training Effectiveness, Training Outcomes, Testing Methodology Workshop, Public Service, Talent Appeal, Talent Retention, Financial Incentives, Non-Financial Rewards, Tertiary Institutions, Competitiveness, Destination Branding, Metrics, Nelson Mandela Bay, Tourism, Organizational Rewards, Tourism Preference for code, ethnography, linguistic environment, multilingualism, cost control, performance of organisations, small and medium-sized enterprises, budget, costing based on operation, standard costing, trade, regionalism, uncertainty, township economy, shebeen, taverns, liquor, market stakeholders, licences, market orientation, policy, strategic orientation, public, private sector, advertisement, ethnography.

Author(s) Details

Michael Twum-Darko
Faculty of Business and Management Sciences, Cape Peninsula University of Technology, South Africa.

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High Frequency Trading: Business Redesign through Big Data and Cloud

This monograph explores the operation of HFT traders on the Helsinki Stock Exchange (HSE) and focuses on the viability of the strategies suggested by HFT for other market participants. The author offers a comprehensive analysis of both the institutional context and the related scholarly literature in support of this report. In this monograph, by deemphasizing “need-for-speed” in computerised high-frequency trading without affecting the basic nature of the speed race, the author identified the welfare effect on trade performance. The aim of this organisation is to verify that high frequency trading is not only about speed, but also about the efficient trading strategies used to conduct the trade. Strategies are the technical method used to look for gains from speculation based on events. After discovering and exploring the feasibility of HFT in event-based trading on the Finnish stock exchange, a customised version of the company cloud trading system is thus architected. So that new HFT companies that guess about what tact to exercise for what holding time and are unable to get micro-second news feed favours faster than their opponents can practise this discipline and the proposed alpha-profit generation cloud trading architect.

The findings of this monograph suggest:

First of all, this monograph takes one-month NASDAQ OMX Nordic high frequency limit order and tick data and selects six mostly traded Finnish stocks based on their small order book operations. Basic limit order book activities of all selected stocks are evaluated to ensure that all selected stocks are impacted by high-frequency activities, including and except non-high-frequency activates, so that the result is more reliable. This monograph follows Aldridge’s proposed high frequency trading strategies and respective holding periods (2009). Strategies often succeed not because policies are effective, but because of market inefficiency. This monograph cross-checks the inefficiency of the market with the autoregressive test. Because of tick data and a very short time period between the two findings, the current return indicates a strong impact of previous returns and past price fluctuations, implying inefficiency in the sector.

Secondly, using distinct comparative ratios, efficiency capability assessment of high frequency trading strategies is performed. Studies find that it is difficult for high-frequency traders to achieve substantial alpha because of the tight spread by trading highly liquid stocks using market making strategy. But with the Sharpe ratio almost equal to the market, they can still produce a positive return. Following this approach, they behave more like market makers. The potential is between (58-75) percent for other high frequency trading strategies. Of all the high frequency trading strategies, statistical arbitration strategies are the best. As a key tool for comparing high frequency and non-high frequency traders, the Sharpe ratio indicates several times higher Sharpe values for high frequency traders relative to non-high frequency traders. For both strategies with long and short positions, Value at Risk (VaR) indicates the likelihood of producing a positive return.

Thirdly, cloud computing in trading and rapid growth of computer hardware and software in the world of big data; cloud computing and high frequency trading (HFT) are unconditionally closely connected as the market is rapidly evolving. This monograph revisits these topics in a novel way and first reveals the distinctive characteristics of Helsinki stock exchange high-frequency trading, suggesting the impression of optimistic event trading recoveries. After discovering and exploring the feasibility of HFT in event-based trading on the Finnish stock market, a customised version of the cloud trading system is then architected. Any academic benefit is a welcome side effect.

Author(s) Details

Arodh Lal Karn
School of Management, Northwestern Polytechnical University, 127 West Youyi Road, Beilin District, Xi’an Shaanxi, 710072, P.R. China.

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An Overview on Value at Risk Model of Bank Cash Management with Application to Lebanon

This paper develops a bank cash management model that is easy enough to comprehend and apply. The model relies on Value at Risk ( VaR), stress testing, and inventory management joint principles. The uncertainty of cash withdrawals must be calculated for this reason. This is carried out through a Predicting a regression that explains cash withdrawal fluctuations. The typical mistake of this regression illustrates the misunderstanding in withdrawals. By choosing and applying a Hodrick-Prescott philtre, the model allows for the proper consideration of interconnected statistical processes. The philosophy  It borrows from the issue of news vendor inventory and is extended to the Lebanon situation. Restricted by A As an input, a limited number of parameters are necessary, and must be defined beforehand. The service level and the estimated stock-out cost per order, which decide the stock-out likelihood, and the overall stock-out cost are among these parameters. The carrying cost is essentially the capital cost of opportunity. The ex ante and ex post findings are consistent with theoretical assumptions, and are certainly very realistic.

Author (s) Details

Dr. Samih Antoine Azar
Faculty of Business Administration and Economics, Haigazian University, Beirut, Lebanon.

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Liberalism and Protectionism Tendencies in Contemporary Foreign Trade Policy

The main objective of the research task is to give a comprehensive analysis of the liberalism and
protectionism tendencies in contemporary foreign trade policy. It must be emphasis that on a
theoretical level, understanding the choice of trade policies between liberalism and protectionism is
very important. It is important to underline that a few multinational firms are responsible for a major
share of world trade and for the rise of global supply chains. The political economy of regulatory
convergence, especially in the conditions of the rise global supply chains, may be more complex than
is sometimes suggested. Preserving freedom needs, to such extent to which that is possible, eliminating the concentration of power and dispersing it with the aid of some controlling and balancing systems. Taking away the control over the organisation of economic activities from the political power eliminates the source of coercion. The economic strength becomes a form of control over the political power rather than being the element supporting it. The systemic transformation of East Central Europe, Baltics and Russia caused the elimination of basic systemic barriers, making the integration with the world economy less difficult. However, there are still factors influencing unfavourably the process of joining the world economy. Accordance to the foreign trade policy theory further trade liberalization and improved framework policies would increase trade and promote growth. It must be emphasized that open to trade is associated with higher incomes and growth and there are the need for new approaches to trade cooperation in light of the forces that are currently re-shaping international business. The key of trade developments within the broader socio-economic context is especially the rise of global supply chains, the general shift of trade power away from the West towards Asia. What indicates the importance and innovativeness of the research is the presentation of the technical progress in P.R. China and the benefits resulting from liberalized of the China foreign trade policy under WTO. The question raised is whether the West will see China’s rise as an opportunity for cooperation or for conflict. Economic growth is generally more preferable in China to military and extensive expansion. With new investments, a country can transform its position through industrial expansion at home and sustain it through international trade. China is especially sensitive to the advantages of intensive growth and will not wish to disrupt essential economic arrangements that have been crucial to her success. In the innovation process very important are the connection between science (universities), market (industry) and government at the regional level. There is positive dependence between innovation activity and effectiveness of the innovation process. The more interaction and cooperation also the creation of enterpreunership it can observe on the regional level than on the state. The new programme of the scientific and innovation research Europe 2020 and Innovation Union are very important factors of the economic growth, social security and global competitiveness of the European Union. It has been emphasized that the talks between EU and USA will make reducing regulatory barriers. New agreements to remove trade barriers aim at reducing dead-weight costs and at increasing net social gains from international trade. For most large and developed nations, they will see positive benefits from a US-China trade war. As trade decreases between the United States and China, the trade will presumably increase between other nations as a result.

Author (s) Details

Zdzisław W. Puślecki
Faculty of Political Science and Journalism, Adam Mickiewicz University, Poland.

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New Tendency in the Foreign Trade Policy in Relations between European Union and China and Their Perspectives

In the new circumstances for the development of the global economy and the global trade, the eyes of
the world, and the EU too, have been turned to China. This country seems to be a production
superpower, able to change the world trade. In many areas it possesses comparative advantages.
The access of China to WTO was a historical decision, the evidence of evolution which was taking
place within that organisation, giving it a more universal, global form. This means also that it expands
on a huge market which can open itself up for foreign competition and the EU too.
Europe and China need to establish a new format for trade–political relations. Their commercial
relations are too important to become hostage to political grandstanding or airy rhetoric by politicians
performing for domestic galleries. Europe is China’s largest export market, and China now ranks
second on Europe’s list of key trading partners. Trade with China dwarfs any other trade relation
Europe has with emerging Asia. Disturbing this relationship would have ramifications for sales, growth
and employment. Carrefour, the French food chain, recently experienced a boycott after the French
critique of China’s policy towards Tibet. Any Western multinational company operating in China is
cautious in its approach to Chinese politics in order to avoid hostile political reactions from Beijing as
well as consumer boycotts. The Chinese government is less concerned today about Western
criticisms of China’s autocratic system, but the Chinese people have grown more nationalistic and
represent a potentially greater threat to commercial relations. Commercial interests in autocratic
regimes cause political dilemmas. On the one hand, European and other Western governments need
to voice their criticisms and tailor. On the other hand, they have commercial interests to defend.
Furthermore, their overall policies must be measured in order to avoid diplomatic brinkmanship, which
risks leading to the opposite outcome: a slowdown, or even a reversion, of freedom-enhancing
reforms. The main aim of this work is the presentation of the new tendency in the foreign trade policy
in relations between European Union and China and their perspectives.

Author (s) Details

Zdzisław W. Puślecki
Faculty of Political Science and Journalism, Adam Mickiewicz University, Poland.

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Strategy on Investment — Mathematics and Practice

This book collects papers of strategy on investment and its mathematical analysis, including: Diffusion
of Price Changing of commodity (or stock) of one source; and multiple sources and holding shares
strategy; the fractal PDE method to improve accuracy; Investment in hydrogen engine must be ended
with failure based on conversation law of energy; Simple differential equation of A & H stock price and
application to analysis of Equilibrium State; Strategy for Hold’En Poker and similar steps investment.
The diffusion equation of commodity price changing links inflation diffusion. Investment to a new field
should be checked by scientific law. The balanced position of a stock in A-share and H-share markers
with different prices is interesting to investors. The strategy for Hold’En Poker is a typical strategy for
uncertain event, including the strategy of cutting the way of contag

Author (s) Details

Tian-Quan Yun,
School of Civil Engineering and Transportation, South China University of Technology, Guangzhou, China.

Tao Yun
IT Department, Zhuguang Group, China.

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Tax Compliance in Ghana: Evidence Self-employed from Bawku West District

A number of reasons have been recognised for tax obligation on citizenry. These same reasons hold for the imposition of tax on the self-employed. One of the principal reasons for taxing the selfemployed is to create the required amount of revenue for the government to implement developmental projects to better the lives of the citizenry. Without the required revenue generation through taxes, no government can accomplish anything important in terms of development such as schools, hospitals, roads, housing, water, sanitation and electricity. This study examined the factors influencing tax compliance, taxpayers understanding of the tax system and specific measures to combating tax compliance in Ghana. The explanatory quantitative research approach and descriptive statistics such as mean and standard deviation was adopted and used for the analysis. 379 selfemployed were engaged for the study using a questionnaire as a data collection instrument. The study results reveals that, (1) The level of tax compliance is more affected by taxpayers’ confidence in the government; (2) One’s financial situation can influence (either positively or negatively) his/her tax compliance; (3) Educating taxpayers on their social responsibilities make them comply with tax laws; (4) The degree of trust between the taxpayer and the government affects tax compliance; whiles tax audit on the contrary does not affect tax compliance among the self-employed in the Bawku West District. The implication of this study is that, for taxpayers to increase their compliance to the tax systems, the government and the public services should give them more reasons to do so, by ensuring fairness and putting their taxes into good use by providing them with tangible project and programmes so as to increase the welfare of taxpayers.

Author(s) Details

Mr. Simon Akumbo Eugene Mbilla
Department of Business Studies, Regentropfen College of Applied Science, Bolgatanga, Ghana and Department of Accountancy, Bolgatanga Polytechnic, P.O. Box 767, Bolgatanga, Ghana

Dr. Joseph Dery Nyeadi
Management Studies Department, University of Mines and Technology, P.O. Box 237, Tarkwa, Ghana

Mr. David Amoah Akolgo
Department of Accountancy, Bolgatanga Polytechnic, P.O. Box 767, Bolgatanga, Ghana.

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Latest Research on Political Economy Research: Sep – 2019

New Tools in Comparative Political Economy: The Database of Political Institutions

This article introduces an oversized new cross‐country information, the information of Political establishments. It covers 177 countries over twenty one years, 1975–95. The article presents the intuition, construction, and definitions of the various variables. Among the novel variables introduced square measure many measures of checks and balances, tenure and stability, identification of party affiliation with government or opposition, and fragmentation of opposition and government parties within the assembly. [1]

The Reason of Rules: Constitutional Political Economy

Societies perform on the premise of rules. These rules, rather just like the rules of the road, coordinate the activities of people World Health Organization have a range of goals and functions. whether or not the foundations work well or unwell, and the way they’ll be created to figure higher, could be a matter of major concern. fitly understood, the operating of social rules is additionally the central material of contemporary economic science. This book is concerning rules – what they’re, however they work, and the way they’ll be properly analysed. The authors’ objective is to grasp the workings of different political establishments in order that decisions among such institutions may be a lot of absolutely educated. Thus, loosely outlined, the methodology of constitutional economic science is that the material of the explanation of Rules. The authors have examined however rules for political order work, however such rules may be chosen, and the way normative criteria for such decisions may be established. [2]

The Political Economy of the Resource Curse

How will a state’s resource wealth influence its economic development? For the past fifty years, versions of this question are explored by each economists and political scientists. New analysis suggests that resource wealth tends to damage economic process, nonetheless there’s very little agreement on why this happens. this text reviews a good vary of recent tries in each economic science and social science to elucidate the “resource curse.” It suggests that abundant has been learned concerning the economic issues of resource exporters however less is understood concerning their political issues. The inequality between sturdy findings on economic matters and weak findings on political ones part reflects the failure of political scientists to rigorously take a look at their own theories. [3]

Intimate constraints: a feminist political economy analysis of biological reproduction and parenting in high-support housing in Ontario

To date there has been very little thought of the role of housing programs in learning the intimate lives of individuals living with mental state labels. this text employs a Feminist economic science lens with insights from Mad & incapacity Studies to interrogate the intimate constraints tough by some residents in high-support mental state housing in Ontario, Canada. It demonstrates that long-standing medicalized notions of mental state and system-wide anxiety over the social and money prices of the copy of disabled bodies make to those intimate constraints, specifically limitations and management over biological copy and parenting practices. [4]

Political Economy of the Amnesty Programme for Sustainable Peace and Development of the Niger Delta

This study adopted a two-level political psychological analytic approach towards understanding the amnesty programme and also the property peace and development of the Niger Delta. the target of this paper is to rouse lime lightweight the vital debates underlying militance and also the strategic interventions achieved by the Amnesty Programme. a mix of theoretical framework of economics paradigm and frustration-aggression theory of conflict is explored. whereas the economics paradigm captures discrepancy of excellent governance in Nigerian, it awakens the subtlety of armed confrontation by the restive youths of the Niger Delta. [5]


[1] Beck, T., Clarke, G., Groff, A., Keefer, P. and Walsh, P., 2001. New tools in comparative political economy: The database of political institutions. the world bank economic review, 15(1), pp.165-176. (Web Link)

[2] Brennan, G. and Buchanan, J.M., 2008. The reason of rules: Constitutional political economy. (Web Link)

[3] Ross, M.L., 1999. The political economy of the resource curse. World politics, 51(2), pp.297-322. (Web Link)

[4] Intimate constraints: a feminist political economy analysis of biological reproduction and parenting in high-support housing in Ontario
Tobin LeBlanc Haley
Palgrave Communicationsvolume 3, Article number: 50 (2017) (Web Link)

[5] Ogbonnaya Nwafor, U. and Ndidiamaka Joy, C. (2017) “Political Economy of the Amnesty Programme for Sustainable Peace and Development of the Niger Delta”, Asian Research Journal of Arts & Social Sciences, 4(2), (Web Link)