Differential reporting and the effect on loan evaluations : an experimental study

This study utilises a mexed design laboratory experiment to test the impact of differential reporting on one group of external financial report users-lenders. The results indicate that the judgments of bank loan officers' assessment of the ability of a borrower to repay, are not significantly affected by differential reporting (in this case, presentation on non-GAAP financial reports compared to GAAP financial reports). However, bankers request additional information from borrowers when non-GAAP financial reports are presented.

Subprime agriculture, and Australia?

Today, Australian agriculture is not where we hoped it would be. Despite being highly productive and the nation's only 'strongly competitive industry', it is struggling across the country. There are successes, as there always will be, but the bulk of our food and fibre production is from enterprises with minimal profitability and unstable or unsound finances. A debt-deflation spiral and subprime mortgage crisis are now being fuelled by property fire sales while leading bankers proclaim no problem and governments dance at the edges. However, it is not just the bush that has problems. National economic conditions are deteriorating with per capita incomes falling and real interest rates still high. Well-informed policy strategies and effective responses are needed quickly if Australians are to avoid needless losses of capacity and wealth destruction in the cities and the bush.

[Last will and testament of Sigismund Born].

Last will and testament of Sigismund Born, Berlin 1897

Familienerinnerungen. Ein Fragment 1790-1913

History of the family of Isak Mirabeau (born 1840); his maternal grandfather Isak Henle was the first Jew to receive civic rights in Hall (Wuerttemberg); his paternal grandfather came from Olnhausen (Wuerttemberg); he was a hops and wool merchant; he became wealthy as a supplier for the French army, and entered the banking business; notes on Jewish history in 19th century Wuerttemberg; contains also instructions to his son for the case of his death (does not have to say kaddish).

Philip Cowen papers undated, 1873-1935

Contains primarily correspondence and published material in English, German and Russian relating to anti-Semitism in Russia and Roumania, the Russian passport question, loans from Jewish bankers to the Russian government and immigration from Eastern Europe, especially Russia, to the United States. Includes also correspondence concerning Jewish welfare institutions and agricultural colonies in the United States and the National Farm School in Doylestown, Pa. Also contains correspondence relating to and drafts of articles for the American Hebrew, particularly the Emma Lazarus memorial number, and correspondence relating to the publication of the Jewish encyclopedia and to survey on anti-Semitism conducted in 1890, as well as information on the Jews in China and material relating to Count Arthur Cherep-Spiridovich.

Percy Carruthers Band fonds, 1857-2005, n.d. (non-inclusive)

Percy Carruthers Band was born on November 27, 1892 in Toronto, Ontario to Charles Walter Band, a grain merchant and Jessie Camp Shaw Band. He graduated from Upper Canada College and became a broker. He worked at the Dominion Bank and then at Maple Leaf Milling Company. He was stationed at Port Colborne for a while. Before leaving for the front, he was with Bankers Bond Company of Toronto and is also listed as working with the firm of Bailey, Wood and Cross. Lieutenant Band received a Certificate of Military Qualifications on Dec. 24th, 1914. He received his Certificate of Military Instruction on Nov. 30, 1915. He received these certificates while with the 48th Regiment (Highlanders). He enlisted in 1914 and went overseas in August of 1915 as an officer in the 35th Battalion. By August 26, 1915, he is listed as being with the 23rd Reserve Battalion. A year later, in August of 1916 Lieutenant Band arrived in France and was posted to the 2nd Battalion – “The Second Iron”. In 1916, Band was the victim of shell shock received during a charge. He was wounded in April of 1917 at Vimy Ridge yet he remained on duty. At this time he received a gunshot wound to his right jaw. He earned a promotion to Captain on September 16th, 1917. He was wounded again in November of 1917 at Passchendaele where he suffered a gunshot wound to the ear. For his courage and determination Percy Band received the Military Cross on February 18, 1918. He led his company under difficult circumstances even though he was wounded. He was awarded a bar to the Military Cross for gallantry during a successful attack on two villages on December 2nd, 1918. During this attack he led his company against enemy machine guns. It is said that he displayed exceptional leadership qualities and skill during this time. On the 30th of August in 1918, he made a daring reconnaissance to the front under heavy fire in an attack on Upton Wood. He was also commended on his gallantry during attacks on Cagnicourt and the Canal du Nord in September of 1918. He was awarded the second bar to the Military Cross on February 1, 1919. The award of the Croix de Guerre was conferred on Captain Percy Carruthers Band by the President of the French Republic on December 15th, 1918 for distinguished service rendered during the course of the campaign. His general demobilization took place on April 25, 1919. Percy Band married Margaret Julia Woodruff on November 25, 1919, and they had three children: Charles Woodruff Band (1921), Margaret Elizabeth Band (1924) and Robert DeVeaux Woodruff Band (1927). After the war, Mr. Band was a manager at Geo. Weston Bread and Cakes Limited, St. Catharines. Percy Band was also an avid collector. His collections included antique toys and art. He died suddenly on May 19, 1961. The Toronto Telegram published this about him: “Captain Percy Carruthers Band, M.C. with two Bars, Croix de Guerre with Palm – was an officer whose buoyant spirit and gallantry mirrored the vibrant soul of the Battalion. Blythe of heart, yet endowed with a fine sense of responsibility, he gave inspired leadership of No. 3 Company.”

La chaîne de responsabilité de la sécurité maritime

"Mémoire présenté à la faculté des études supérieures en vue de l'obtention du grade de maître en droit (LL.M.)". Ce mémoire a été accepté à l'unanimité et classé parmi les 15% des mémoires de la discipline.

L'obligation d'information à échelle d'intensité variable: vers une théorisation de l'obligation de conseil

En 1992, la Cour suprême du Canada souligne l'importance de faire la distinction entre l'obligation principale de conseil qui est l'objet principal du contrat et l'obligation d'information qui est accessoire. L'obligation principale de conseil est reconnue à l'égard des professionnels des professions dites libérales à l'époque, comme les avocats et notaires dans un contrat de mandat. Par contre, l'évolution jurisprudentielle récente démontre que l'obligation de conseil ne se limite plus à l'objet principal du contrat, et que la notion de «professionnel» n'a plus le sens restrictif d'autrefois. Au Québec, l'obligation principale de conseil est reconnue dans un premier temps à l'égard des professionnels soumis au Code des professions, notamment avocats et notaires. On reconnaît aussi une telle obligation accessoire de conseil à l'égard d'autres personnes qui, bien qu'elles ne soient pas des «professionnels» au sens du Code des professions, exercent tout de même des activités de nature professionnelle. C'est le cas, par exemple, des courtiers en valeurs mobilières, des courtiers en assurances ou des institutions financières. D'ailleurs, une controverse semble régner dans le domaine bancaire sur l'étendue de l'obligation de conseil et d'information des institutions financières envers un client dans le cadre d'un contrat de prestation de services. Plus particulièrement, les tribunaux semblent partagés sur la reconnaissance ou non d'une obligation de conseil de la banque dans le cadre d'un emprunt. Certaines décisions sont à l'effet que seule une obligation d'information s'impose alors que d'autres préconisent le conseil. Afin d'élucider la confusion qui règne présentement en jurisprudence dans le domaine bancaire ainsi que dans le contrat de services et d'entreprise en général, il faut faire une étude jumelée de l'évolution de l'obligation de conseil accessoire et de l'obligation de conseil principale. Notre étude porte sur l'évolution jurisprudentielle qui tend vers une théorisation dans le contrat de services ou d'entreprise, de l'obligation de conseil qui devient alors une variante ou une intensité de l'obligation accessoire d'information. Par le fait même, on constate qu'une obligation de conseil principale semble également s'étendre à une catégorie plus large de professionnels. Dans ce cas, l'obligation de conseil est similaire, dans son fondement, au devoir de conseil du «professionnel» traditionnel, au sens du Code des professions. On constate alors que l'obligation principale de conseil n'est plus restreinte aux professionnels au sens classique du terme.

Role of Commission Agents in the Development of Traditional Marine Fisheries of Kerala with Special Reference to Financing

The study clearly brings out the role of commission agents in the traditional marine fisheries sector and thereby goes to set at rest the controversy regarding their role. The findings of the study has important implications for formulation of policies and development strategies related to the traditional marine fisheries sector. The study points out the need for a thorough review and reformulation of the policies and development strategies for efficiently achieving the development potential of the traditional marine fisheries sector and for improving the economic conditions of the fishermen. The study is based mostly on Alappuzha District of Kerala, covering all the 30 marine fishing villages, spread over the three coastal taluks, namely, Karthikappally, Ambalappuzha and Cherthala

“Documentary Credit Law : An Indian Perspective"

This is a study in international trade law. Documentary credits are the most common method of payment for goods in international trade. In India also these instruments are used both in national and international trade. The law governing these transactions remains haphazard. This study identifies the deficiencies in the regulatory framework for documentary credits in India. It primarily focuses on those areas which exhibits a lack of equality and justice in its operation. An attempt has also been made to identify the rights and duties of parties involved in the transaction. The reasons for the increase of fraudulent activities associated with the documents executed in the documentary credit transactions are also examined. How far the law in India is sufficient to ensure fair business practice in international trade financing is also examined. Methodology adopted for the study is analytical. The statutory provisions, rules and case laws under these provisions have been examined. An empirical study by personal interview with the bankers is also made to ascertain the practice of bankers in India.

Los conceptos de salud financiera, riesgo y epidemiología en los estados financieros de las compañías del sector de extracción de petróleo crudo y gas natural en Colombia

El presente proyecto tiene como objeto identificar cuáles son los conceptos de salud, enfermedad, epidemiología y riesgo aplicables a las empresas del sector de extracción de petróleo y gas natural en Colombia. Dado, el bajo nivel de predicción de los análisis financieros tradicionales y su insuficiencia, en términos de inversión y toma de decisiones a largo plazo, además de no considerar variables como el riesgo y las expectativas de futuro, surge la necesidad de abordar diferentes perspectivas y modelos integradores. Esta apreciación es pertinente dentro del sector de extracción de petróleo y gas natural, debido a la creciente inversión extranjera que ha reportado, US$2.862 millones en el 2010, cifra mayor a diez veces su valor en el año 2003. Así pues, se podrían desarrollar modelos multi-dimensional, con base en los conceptos de salud financiera, epidemiológicos y estadísticos. El termino de salud y su adopción en el sector empresarial, resulta útil y mantiene una coherencia conceptual, evidenciando una presencia de diferentes subsistemas o factores interactuantes e interconectados. Es necesario mencionar también, que un modelo multidimensional (multi-stage) debe tener en cuenta el riesgo y el análisis epidemiológico ha demostrado ser útil al momento de determinarlo e integrarlo en el sistema junto a otros conceptos, como la razón de riesgo y riesgo relativo. Esto se analizará mediante un estudio teórico-conceptual, que complementa un estudio previo, para contribuir al proyecto de finanzas corporativas de la línea de investigación en Gerencia.

Informal finance and rural finance policy in India: historical and contemporary perspectives

From the 1950s up to the early 1990s the All-India data show an ever-declining share of informal credit in the total outstanding debt of rural households. Contemporaneous micro-level studies, using more qualitative research methodologies, provide evidence that questions the strength of this trend, and more recent All-India credit surveys show, first, a levelling, and then a rise, in the share of rural informal credit in 1990/91 and 2000/01, respectively. By reference to findings of a study of village moneylenders in Rajasthan, the paper notes lessons to be drawn. First, informal financial agents have not disappeared from the rural financial landscape in India. Second, formal-sector financial institutions can learn much about rural financial service needs from the financial products and processes of their informal counterparts. Third, a national survey of informal agents, similar to that of the 1921 Census survey of indigenous bankers and moneylenders, would provide valuable pointers towards policy options for the sector. A recent Reserve Bank of India Report on Moneylender Legislation not only explores incentive mechanisms to better ensure fair practice, but also proposes provision for a new category of loan providers that would explicitly link the rural informal and formal financial sectors.

The use and impacts of bank support on UK small and medium-sized enterprises

This article examines an under-investigated area in relationship banking, i.e. the use of bank advice and support and its impacts on the financial conditions of small and medium-sized enterprises (SMEs). The findings indicate that the characteristics of businesses and entrepreneurs, among other factors, have determinant effects on the use of bank support by SMEs when they make financial decisions. SMEs can alleviate the severity of their financial problems significantly by using bank support more fully, through developing long-term relationships with banks as primary network partners. The article further recognises the value of advice from banks as a substitute for entrepreneurial human capital, especially when bankers use private information to determine the nature and level of financial and non-financial assistance that they are prepared to supply to their clients.