The gap between the value of the company in the accounting and financial books and its real market value is growing more and more. This difference represents the effect of intellectual capital that arises in the company in various forms. His cleavage in three types is the most widely used: human capital, organizational capital and customer capital. These different forms of intellectual capital ...

In a post-crisis scenario, the global economy has entered into an episode of gradual recovery characterized, in part, by different growth velocities and capital flows to emerging market economies. This global environment has opened a debate relative to macroprudential regulation, financial stability and capital flows. In this paper I highlight the importance of this latest aspect, particularly ...

• Capital markets have undergone massive changes in the past decade; in Western Europe but of course more fundamentally in the Central and Eastern European Countries (CEEC). • The euro has fostered the transformation of financial systems toward a more market based approach. Its impact in Eastern Europe will be even stronger. • To ensure the success of EMU an active and open-market stance is req...

Financial development has proved to be a perfect indicator and reliable proxy for economic growth. Capital Finance is one of the main vehicles of finance. Capital markets, as Thorsten Beck and Ross Levine showed empirically, can solely and independently lead to economic growth. The consensus about the importance of financial markets and, particularly, the role that capital markets play in moder...

29 2 Two points of view on whether Basel II—a set of guidelines on how much capital banks should hold to guard against current and future risks—adds to boom-bust cycles T he current financial market turmoil—which began in the U.S. subprime mortgage market in summer 2007 and quickly spread to europe—has exposed glaring weaknesses in how financial institutions are supervised and regulated. As a r...

This paper is a substantially revised and extended version of a preliminary paper presented at the 1993 ARIA Meeting in San Francisco. This research was funded in part by the National Association of Insurance Commissioners. The conclusions expressed here are the authors' and do not necessarily reflect the opinion of the National Association of Insurance Commissioners. Introduction The National ...

Financial structure is a combination of debt and equity and regards as one of the most important issues in banking industry. The purpose of financial structure decision is to create an appropriate combination of financing resources to minimize the cost of capital and thus maximize the company's market value. This study investigates the impacts of banks financial structure on their Returns (ROA ...

All industrialized nations relied on capital account controls for significant periods of their economic development and relaxations of capital account restrictions thought to be an integral aspect of economic development. Economists long advocated the removal of capital controls as a stabilizing factor of the development process to improve efficiency and return economies from distorted factor p...

the present study examined the role of social capital on financial performance of farming cooperatives in khouzestan province. the method of research was descriptive- correlative. the population consisted of 3273 members of farming cooperatives. based on cochran formula, 213 persons were selected. the survey was conducted using a questionnaire. content validity of the questionnaire was determin...