Template-Type: ReDIF-Article 1.0 Author-Name: Anthony Enisan Akinlo Author-Name: Mofoluwaso Emmanuel Title: STOCK PRICES AND DEMAND FOR MONEY: EVIDENCE FROM NIGERIA Abstract: This paper investigates the relationship between stock prices and the real money demand for Nigeria using unit root test and the cointegration with structural break. There are five important results for narrow and broad money in Nigeria. First, there is cointegration between narrow and broad money and their determinants, income, interest rate, exchange rate and real stock prices. Second, stock prices are an important determinant since cointegration fails if real stock prices are left out. Third, economic and financial reforms did affect the stability of demand for money in Nigeria over the period 1986:1-2012:4. Fourth, the long run income elasticity is not significantly different from unity with the inclusion of real stock prices. Finally, the results show structural breakpoints and they look to match clearly with corresponding critical financial, economic and political incidents. Classification-JEL: E41, E44, C12 Keywords: Money Demand, Structural Break, Cointegration, Nigeria Journal: Review of Business and Finance Studies Pages: 1-19 Volume: 8 Issue: 1 Year: 2017 File-URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v8n1-2017/RBFS-V8N1-2017-1.pdf File-Format: Application/pdf Handle: RePEc:ibf:rbfstu:v:8:y:2017:i:1:p:1-19 Template-Type: ReDIF-Article 1.0 Author-Name: Michael Mahoney Author-Name: Donald Crooks Author-Name: Cathyann Tully Author-Name: Edward Strafaci Title: OBVIATING THE MORAL HAZARDS THAT CAUSED THE RECENT BANKING CRISIS AND FUTURE DISLOCATIONS WITH THE IMPOSITION OF REGULATIONS, RESERVE REQUIREMENTS, REVENUE/RISK ADJUSTED PAYOUTS Abstract: This paper will examine the critical aspects of the Glass-Steagall Act of 1933 including a detailed analysis of the objective of the act on the banks and the economy. A further review will explore the atmosphere and psychology of the various banking practices that were implemented during the 1980’s and 1990’s. A chronology of pivotal events will prove that the current environment of deregulation and erosion of the distinct line between commercial and investment banks is actually attributed to monetary policies dating back to Alan Greenspan and the Federal Reserve Board actions of the 1990’s. The start of the 21st entury saw the rapid growth of derivative instruments that were not regulated, prompting the moral hazard which caused the mortgage banking industry collapse. A further analysis of the reckless practices will show how these lending practices caused financial chaos. The companies that failed did so because of overleveraging and failure to control risk effectively while rewarding themselves without establishing adequate reserves. The paper will conclude with an analysis of the present arguments to strengthen the core requirements for both the investment and commercial banking Classification-JEL: G01, G24, G28 Keywords: Moral Hazards, Revenue/Risk Adjusted Payouts Journal: Review of Business and Finance Studies Pages: 21-31 Volume: 8 Issue: 1 Year: 2017 File-URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v8n1-2017/RBFS-V8N1-2017-2.pdf File-Format: Application/pdf Handle: RePEc:ibf:rbfstu:v:8:y:2017:i:1:p:21-31 Template-Type: ReDIF-Article 1.0 Author-Name: Brian Gurney Author-Name: Gary Amundson Author-Name: Salem L Boumediene Title: WAYS TO BATTLE THE $431 BILLION FAKE PHARMACEUTICAL INDUSTRY Abstract: Nowadays, counterfeit drugs are available in the marketplace more than ever. One has no idea whether they are acquiring the genuine drug or not. Many deaths have occurred because of mistakes made by consuming counterfeit medication. Not only does it alter one’s health but it also crushes their hopes. The data concerning counterfeit drugs are increasingly being published in reports and reviews. It seems like government does not care about the issue since it is ongoing and growing. Governments seem to underestimate the importance of the issue, hence its growing prospect. Harsher sanctions are needed to prove that counterfeiting is not an unpunished crime. Whoever commits that felony has to face the consequences that come along with breaking the law and possibly participating in harming and endangering one’s life Classification-JEL: I10, I18, I19, K20, K42, F19, F23 Keywords: Medicine, Counterfeit Drugs, Generic, Regulation Journal: Review of Business and Finance Studies Pages: 33-40 Volume: 8 Issue: 1 Year: 2017 File-URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v8n1-2017/RBFS-V8N1-2017-3.pdf File-Format: Application/pdf Handle: RePEc:ibf:rbfstu:v:8:y:2017:i:1:p:33-40 Template-Type: ReDIF-Article 1.0 Author-Name: Peter Harris Author-Name: Katherine Kinkela Author-Name: Liz Washington Arnold Author-Name: Michelle Liu Title: CORPORATE ACCOUNTING MALFEASANCE AND FINANCIAL REPORTING RESTATEMENTS IN THE POST-SARBANES-OXLEY ERA Abstract: The U.S. Congress passage of the Sarbanes-Oxley Act of 2002 (SOX) was a direct response to the accounting scandals of the 1990s and an attempt to reform the financial or business reporting process. Due to corporate malfeasance in the United States since the mid 1990s, there has been a significant increase in the number of companies restating their financial statements. After a large increase in restatements over the first years after SOX, for the past five years, fewer companies are restating financial statements. This paper provides an overview of corporate accounting malfeasance, the state of corporate accounting malfeasance, reasons for its occurrence, comprehensive listings of the types of corporate accounting malfeasance activities, and the U.S. legislative response. The paper also theorizes that not only is corporate accounting malfeasance is here to stay, but malfeasance is an inherent part of the U.S. and global financial system, regardless of the policies implemented by the Securities and Exchange Commission (SEC), other regulatory bodies, or leading institutions of the accounting profession. The paper suggests that certain aspects of the Sarbanes-Oxley Act have been effective in helping companies to detect fraud more easily, and corporations have added internal controls and provided restatements of financial statements to demonstrate their commitment to compliance. Future commitment to internal controls for corporations and auditors is necessary to ensure transparency in financial statements Classification-JEL: M410 Keywords: Accountant, Accounting, Auditing, Fraud, Malfeasance, Sarbanes-Oxley, Financial Reporting Journal: Review of Business and Finance Studies Pages: 41-48 Volume: 8 Issue: 1 Year: 2017 File-URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v8n1-2017/RBFS-V8N1-2017-4.pdf File-Format: Application/pdf Handle: RePEc:ibf:rbfstu:v:8:y:2017:i:1:p:41-48 Template-Type: ReDIF-Article 1.0 Author-Name: Maria H. Sanchez, Author-Name: Kathleen Dunne Title: AN EMPIRE BUILT ON A LIE – THE PEREGRINE FRAUD: A CASE STUDY ON CONFIRMATIONS AS AUDIT EVIDENCE Abstract: This study examines the real world case of the Peregrine fraud. In this fraud, the CEO Russell Wasendorf, Sr. duped the auditors and the public for years. Wasendorf was able to carry out a fraud using an unsophisticated scheme involving falsified bank statements and falsified audit evidence. Only when an electronic confirmation services was used by the auditors did the fraud unravel. This case provides interesting discussion points for an auditing, fraud detection and deterrence, forensic accounting or ethics class. Students typically need one to two hours of time outside of class to complete the case and instructors should budget approximately one to one and a half hours of class time to discuss the case after the students have completed it Classification-JEL: M42 Keywords: Audit Evidence, Confirmations, Fraud Journal: Review of Business and Finance Studies Pages: 49-55 Volume: 8 Issue: 1 Year: 2017 File-URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v8n1-2017/RBFS-V8N1-2017-5.pdf File-Format: Application/pdf Handle: RePEc:ibf:rbfstu:v:8:y:2017:i:1:p:49-55 Template-Type: ReDIF-Article 1.0 Author-Name: Ann Galligan Kelley Title: DURATION RISK: DO YOU KNOW YOUR NUMBERS? Abstract: Most investors know that bond prices move inversely with interest rate fluctuations. These same investors, however, may not fully understand how to assess the interest rate risk of different fixed income investments. This is particularly timely given the improving U.S. economy and Federal Reserve’s expectation of increasing interest rates in the near future. The simplest measure of interest rate risk for the average investor is something called duration. The Financial Industry Regulatory Authority (FINRA) stated that the one number a bond investor should know is duration. This article will explain what duration is, how to use this measure to evaluate risks, examples of how changes in interest rates will impact bonds or bond funds with different durations, and where investors can find this information Classification-JEL: M10, G10, M40 Keywords: Duration, Interest Rate Risks, Bonds, Investments Journal: Review of Business and Finance Studies Pages: 57-66 Volume: 8 Issue: 1 Year: 2017 File-URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v8n1-2017/RBFS-V8N1-2017-6.pdf File-Format: Application/pdf Handle: RePEc:ibf:rbfstu:v:8:y:2017:i:1:p:57-66 Template-Type: ReDIF-Article 1.0 Author-Name: Miguel Angel Olivares Urbina Author-Name: Enrique Corona Sandoval Author-Name: María Fernanda Gutiérrez Velarde Title: STRATEGY AND LONGEVITY IN BUSINESS: HOTEL AVENIDA, CANCUN, MEXICO CASE STUDY Abstract: This case study is intended for undergraduate students. We aim to have students analyze and propose alternative models for decision making regarding the implementation of administrative and management strategies in a business hotel. Information is presented on a hotel that has 53 rooms and a traditional approach to administration. It was established in 2002, in the city of Cancun, Mexico. Students are given information about: the history of the hotel; key figures involved in the business decision-making; evolution of the management model; and, the current management model within the traditional approach to administration. The hotel has a constant 87% annual occupation rate. The case study asks students to evaluate strategies for the following dilemma: a) modernize the management model; or, b) improve the existing model, based on the performance of the business and the ever-changing context of the tourism industry. Students can suggest alternative courses of action and can assume the role of external consultants. Students should ideally work in teams. Knowledge in administration, management and marketing is necessary. This case study can be developed in a two-hour class and should include a presentation of the results and a discussion at the close of the class Classification-JEL: M14, M15, M31 Keywords: Tourism, Business Performance, Leadership, Strategy Journal: Review of Business and Finance Studies Pages: 67-77 Volume: 8 Issue: 1 Year: 2017 File-URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v8n1-2017/RBFS-V8N1-2017-7.pdf File-Format: Application/pdf Handle: RePEc:ibf:rbfstu:v:8:y:2017:i:1:p:67-77 Template-Type: ReDIF-Article 1.0 Author-Name: Mitch Kramer Title: BEST PRACTICES FOR VALIDATION FOR AN UPGRADE OR NEW ERP SYSTEM Abstract: This paper discusses best practices for validation for an upgrade or new Enterprise Resource Planning (ERP) system. Topics covered include Introduction to ERP Systems, Upgrading ERP Systems, Implementation ERP Systems, ERP Financial and System Document Reports, SQL Command Scripts and Database Design. Classification-JEL: C88, G0, L86, M15, M40, M41 Keywords: Enterprise Resource Planning, Structured Query Language, Microsoft Access,Pass-Through Query, ODBC, Databases, Implementation, Financial Reports, Finance Journal: Review of Business and Finance Studies Pages: 79-82 Volume: 8 Issue: 1 Year: 2017 File-URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v8n1-2017/RBFS-V8N1-2017-8.pdf File-Format: Application/pdf Handle: RePEc:ibf:rbfstu:v:8:y:2017:i:1:p:79-82 Template-Type: ReDIF-Article 1.0 Author-Name: Keith Akiva Lehrer Title: PEDAL AND MOTOR CYCLE HELMET USE, SPLIT BY GENDER: EVIDENCE FROM EUROPE, CENTRAL AMERICA AND THE CARIBBEAN Abstract: According to the WHO’s Global Status Report on Road Safety of 2013, road fatalities were 1.24 million for the 182 countries studied; the injury statistics were as always less precise: depending on definition and recording measures, there were 20-50 million injuries –either extreme of the spectrum would constitute the size of a medium-large nation state. In economic terms the cost of road injuries in 2000 was recorded in the WHO Report as in excess of $1/2 trillion –again equivalent to the GDP of medium-large national economies. Correct helmet use was estimated in the study to reduce the risk of death by 40%, and that of serious injury by 70%. These somewhat sobering statistics provide the backdrop for the empirical study of helmet use by riders of bicycles and motorcycles analyzed by gender, age, number of riders and personal/cargo use, which are presented below. Locations in the following countries were chosen in Central America and the Caribbean, for empirical observation of helmet use: Latin America (Cuba, Costa Rica and Nicaragua) and locations in the following countries in Europe (U.K., Italy and the Netherlands.) The data collected are summarized, analyzed and reviewed; and comparisons between countries and regions made. Policy implications are discussed. Tentative policy recommendations are suggested, subject to more extensive empirical research, for a more pro-active approach to road safety for pedal and motor cycle users –not just operators but also passengers, who constitute some of the most vulnerable road users Classification-JEL: R41, N70, I00, H83 Keywords: Road Safety, Bicycle Helmet Use, Motorcycle Helmet Use, Risk, Gender Differences, Public Health, Public Policy, Transport Management Journal: Review of Business and Finance Studies Pages: 83-95 Volume: 8 Issue: 1 Year: 2017 File-URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v8n1-2017/RBFS-V8N1-2017-9.pdf File-Format: Application/pdf Handle: RePEc:ibf:rbfstu:v:8:y:2017:i:1:p:83-95