Abstract: Basel III (or the Third Basel Accord) is a global
regulatory standard on bank capital adequacy, stress testing and
market liquidity risk agreed upon by the members of the Basel
Committee on Banking Supervision in 2010-2011, and scheduled to
be introduced from 2013 until 2018. Basel III is a comprehensive set
of reform measures. These measures aim to; (1) improve the banking
sector-s ability to absorb shocks arising from financial and economic
stress, whatever the source, (2) improve risk management and
governance, (3) strengthen banks- transparency and disclosures.
Similarly the reform target; (1) bank level or micro-prudential,
regulation, which will help raise the resilience of individual banking
institutions to periods of stress. (2) Macro-prudential regulations,
system wide risk that can build up across the banking sector as well
as the pro-cyclical implication of these risks over time. These two
approaches to supervision are complementary as greater resilience at
the individual bank level reduces the risk system wide shocks.
Macroeconomic impact of Basel III; OECD estimates that the
medium-term impact of Basel III implementation on GDP growth is
in the range -0,05 percent to -0,15 percent per year. On the other hand
economic output is mainly affected by an increase in bank lending
spreads as banks pass a rise in banking funding costs, due to higher
capital requirements, to their customers. Consequently the estimated
effects on GDP growth assume no active response from monetary
policy. Basel III impact on economic output could be offset by a
reduction (or delayed increase) in monetary policy rates by about 30
to 80 basis points. The aim of this paper is to create a framework
based on the recent regulations in order to prevent financial crises.
Thus the need to overcome the global financial crisis will contribute
to financial crises that may occur in the future periods. In the first
part of the paper, the effects of the global crisis on the banking
system examine the concept of financial regulations. In the second
part; especially in the financial regulations and Basel III are analyzed.
The last section in this paper explored the possible consequences of
the macroeconomic impacts of Basel III.
Abstract: This study examines the relevance of disclosure
practices in improving the accountability and transparency of
religious nonprofit organizations (RNPOs). The assessment of
disclosure is based on the annual returns of RNPOs for the financial
year 2010. In order to quantify the information disclosed in the
annual returns, partial disclosure indexes of basic information (BI)
disclosure index, financial information (FI) disclosure index and
governance information (GI) disclosure index have been built which
takes into account the content of information items in the annual
returns. The empirical evidence obtained revealed low disclosure
practices among RNPOs in the sample. The multiple regression
results showed that the organizational attribute of the board size
appeared to be the most significant predictor for both partial index on
the extent of BI disclosure index, and FI disclosure index. On the
other hand, the extent of financial information disclosure is related to
the amount of donation received by RNPOs. On GI disclosure index,
the existence of an external audit appeared to be significant variable.
This study has contributed to the academic literature in providing
empirical evidence of the disclosure practices among RNPOs.
Abstract: This study suggests how an order-receiving company
can avoid disclosing schedule information on unit tasks to the
order-placing company when carrying out a collaborative project on
the value chain in an order-oriented industry. Specifically, it suggests
methods for keeping schedule information confidential, and
categorizes potential situations by inter-task dependency. Lastly, an
approach to select the most optimal non-disclosure method is
discussed. With the methods for not disclosing work-related
information suggested in the study, order-receiving companies can
logically deal with political issues relating to the question of whether
or not to disclose information upon the execution of a collaborative
project in cooperation with an order-placing firm. Moreover,
order-placing companies can monitor undistorted information, while
respecting the legitimate rights of an order-receiving company.
Therefore, it is fair to say that the suggestions made in this study will
contribute to the smooth operation of collaborative intercompany
projects.