Posts Tagged ‘Ethics’
A Critique of Behavioral Finance
By Dr. Hassan Shirvani—The recent global financial crisis has raised serious questions about the rationality of the securities markets. In rational markets, prices tend to closely track their fundamental values, so that there is little or no chance of getting price bubbles. During the run-up to the recent crisis, however, many asset prices, including those in the housing sector, seemingly deviated from their correct values, resulting in subsequent financial crashes around…
Read MoreThe UST Academic Mall and My Teaching Philosophy
By Dr. Shuoyang Zhang–Being an educator is a noble profession. Human civilization depends upon the transcendent transmission of wisdom from generation to generation. It is an honor and a privilege for me to play a small role in this grand process. This is the 11th year of teaching since I first started in the summer…
Read MoreDefining Moments: Building Character One Decision at a Time
By Dr. Michele Simms—–We love reading the classics or watching classic films because of what they teach us about ourselves and about life; they are timeless gateways to authenticity. When we return to them years later, we continue to pull from the meaning of their deeper message. The HBR generates a list of its classic…
Read MoreThe Role of Non-financial Information in Detecting Financial Statement Fraud
By Evgeniya Sukhova—- INTRODUCTION In order to detect material misstatements in the financial statements of a company, auditors perform numerous analytical procedures, including analysis of relationships between financial and nonfinancial information. Inconsistency between financial and nonfinancial information can be a symptom of financial statements fraud. This type of fraud is most often carried out by…
Read MoreFraud Prevention
By Cassandra Andrews— A company or individual can never be 100% protected from fraud, but there are certain measures that a company or individual can take to be as protected as possible. Everyone who works in a company can be dishonest. There are two essential aspects that are key to having a low-fraud environment. The…
Read MoreExpert Advice on Leadership: Words of Wisdom From UST President
By Denily Acosta Izzo—When you are studying business, you feel a certain inclination to develop leadership skills because it makes you a better candidate when applying for a job. Leadership may come easily for an extroverted, social, and passionate individual or it may be a hard target to achieve for an introverted, shy, and a…
Read MoreThe Effects of the Media
By Mohammad Sairafi — “Whoever controls the media, controls the mind” (Jim Morrison) Media plays a vital role in changing the lives of more than a million audiences. Morrison mentions the fact that media has the strength to influence the thoughts of people. Media with its desirability, charm, and fascination affect the thinking of people.…
Read MoreThe Invisible Link Between Trust, Profits, And Prosperity
By Miguel Martinez-Zavala — Businesses worldwide are facing tough challenges. The European Union’s economic problems, and increasing uncertainty, are driven by unforeseen events. Such events include: the Ukraine’s crisis, the sociopolitical volatility of the Middle East and its subsequent global economic effects, and the feeble U.S. economic growth that seems to be the new norm.…
Read MoreThe Economics of the Just Price
By Dr. Hassan Shirvani — The concept of the “just” or “fair” price is as old as History. To combat predatory lending practices, price gouging, profiteering, and price discrimination, many governments throughout history have passed laws to protect their citizens against dishonest and unethical lenders and sellers. Thus, the Babylonian king Hammurabi (1792-1750 B.C.) had…
Read MoreLower the Minimum Wage
Despite the struggling economy, documented by a workforce participation rate of less than 63%, proponents have urged an increase in the Federal minimum wage. This is a bad move at the worst possible time. Even Janet Yellen, Chair of the Federal Reserve, indicated that loose monetary policies will continue due to the poor job market.…
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