Foreign ownership, bank information environments, and the international mobility of corporate governance

This paper investigates how foreign ownership shapes bank information environments. Using a sample of listed banks from 60 countries over 1997–2012, we show that foreign ownership is significantly associated with greater (lower) informativeness (synchronicity) in bank stock prices. We also find that stock returns of foreign-owned banks reflect more information about future earnings. In addition, the positive association between price informativeness and foreign ownership is stronger for foreign-owned banks in countries with stronger governance, stronger banking supervision, and lower monitoring costs. Overall, our evidence suggests that foreign ownership reduces bank opacity by exporting governance, yielding important implications for regulators and governments

EFEKTIVITAS PENGAWASAN UNIT KERJA ANTI FRAUD PADA BANK MUAMALAT INDONESIA

Perkembangan perbankan syari‟ah di Indonesia demikian pesat yang ditandai dengan berdirinya Bank Muamalat Indonesia. Perkembangan ini berimplikasi pada besarnya tantangan perbankan syari‟ah di Indonesia terutama dalam mempertahankan identitasnya sebagai perusahaan yang bergerak berlandaskan prinsip-prinsip syari‟ah. Sejak berdirinya perbankan syariah,berbagai kontroversi muncul dari masyarakat, masalah yang paling banyak disorot adalah pelekatan label syariah pada institusi keuangan Islam yang masih dianggap belum layak. Keraguan masyarakat tersebut seolah terjawab dengan munculnya kasus yang cukup menggemparkan yakni kasus fraud (tindak kecurangan) yang terjadi di lembaga syariah. Bank Muamalat Indonesia merupakan bank syari‟ah pertama yang muncul dengan gagasan bank murni syari‟ah. Akan tetapi, bank Muamalat Indonesia juga tak luput dari kasus fraud yang dilakukan oleh karyawan bank tersebut. Berdasarkan Laporan Tahunan BMI menyebutkan bahwa telah terjadi peningkatan kasus fraud dari tahun sebelumnya yang berjumlah 18 kasus menjadi 82 kasus pada tahun 2016. Padahal perusahaan yang menggunakan identitas syariah seharusnya dapat lebih meminimalisir bahkan meniadakan resiko terjadinya kasus fraud dengan adanya internal control perusahaan. Dari latar belakang tersebut, peneliti berusaha mendalami peran pengawasan Unit Kerja Anti Fraud dalam fraud preventive pada Bank Muamalat Indonesia. Penelitian ini merupakan penelitin pustaka yang bersifat deskriptif analisis dengan pendekatan kualitatif. Adapun sumber bahan hukum primer yang dipakai yaitu berdasarkan Laporan Tahunan Bank Muamalat Indonesia Tahun 2016. Sedangkan sumber bahan hukum sekunder berupa buku-buku, jurnal,karya ilmiah, artikel, terkait dengan strategi anti fraud perbankan syariah. Dari hasil penelitian dikemukakan bahwa peningkatan kasus fraud yang terjadi pada Bank Muamalat Indonesia disebabkan kurang efektifnya pengawasan Unit Kerja Anti Fraud. Hal ini dikarenakan kegiatan yang dilakukan selama tahun 2016 belum menujukkan adanya usaha preventif terhadap kasus fraud. Sedangkan pencegahan merupakan pilar penting dalam keefektivan sebuah pengawasan. Tujuan perusahaan dalam mencegah fraud dapat tercapai, jika fungsi pengawasan dilakukan sebelum terjadinya penyimpangan-penyimpangan sehingga lebih bersifat mencegah (prefentive control). Oleh karena itu, keefektivan pengawasan Unit Kerja Anti Fraud diharapkan dapat meminimalisir tindak kecurangan demi mewujudkan perusahaan yang patuh terhadap ketentuan syariah sesuai dengan identitas perusahaan. vii Usaha pencegahan terjadinya kasus pada Bank Muamalat Indonesia diharapkan dapat menjadi bukti terlaksananya tatakelola perusahaan (Good Corporate Governance) pada Bank Syari‟ah dengan baik. Hal ini berdasarkan dalam dalam perbankan syariah dikenal adanya prinsip-prinsip syariah yang mendukung bagi terlaksananya prinsip GCG yakni keharusan bagi subjek hukum termasuk bank untuk menerapkan prinsip kejujuran (shiddiq), edukasi kepada masyarakat (tabligh), kepercayaan (amanah), dan pengelolaan secara profesional (fathanah)

An experimental study of water table recharge by seepage losses from a ditch with intermittent flow

Fanned catchments in the Mediterranean area often exhibit dense networks of ditches which are also preferential zones of water table recharge, and thereby of groundwater contamination. This study presents an experimental analysis of seepage losses and related groundwater recharge patterns during a typical Mediterranean runoff event at the scale of a ditch located above a shallow water table. The objectives were (i) to evaluate the patterns of water table recharge by seepage in a ditch, (ii) to study the main flow processes occurring during recharge, and (iii) to estimate solute propagation in case of contaminated flow in the ditch. The field observation indicated three major points. Firstly, they showed that seepage losses during a runoff event in a ditch can rapidly lead to a significant recharge of a shallow water table. Secondly, the recharge induces a groundwater mound much larger than the event plume. The infiltrated water and the accompanying solutes remained in the vicinity of the ditch. The patterns Of groundwater recharge and contamination appeared very different. Lastly, both unsaturated and saturated-piston flow processes were observed which suggests that a variably-saturated flow modelling approach ought to be used to simulate the ditch-water shallow table interaction. Finally, the study indicates that the patterns of water table recharge and contamination in Mediterranean catchments with dense ditches network vary largely in space and time, and will require dense monitoring networks to estimate the evolution of the average contamination levels

Contrasting soil property patterns between ditch bed and neighbouring field profiles evidence the need of specific approaches when assessing water and pesticide fate in farmed landscapes

Farm ditch networks, infrastructures designed to regulate excess water in cropped landscapes, constitute pesticide dispersal pathways or buffer zones, depending on their soil properties. Despite the key role that ditch soils play in the regulation of water and pesticide fate, their properties, especially in intermittently flooded ditches, remain poorly characterized. Therefore, our aim was to evaluate the specificity of ditch material properties to determine whether ditches require an approach that differs from that of field soils when studying water and pesticide fate in farmed landscapes. We thus analysed the variations in the pedological, herbicide sorption and flow properties of soil materials along a 2D cross-section of an intermittently flooded ditch in the Roujan catchment of southern France. We found that the upper part of the ditch bed soil profile is composed of 3 horizons that formed after the original creation of the ditch, most likely via the deposition of field-eroded particles and the accumulation of organic matter. These specific horizons have greater porosity, mostly due to their dense root systems, and contain up to 2 times more organic carbon than the neighbouring banks or field soils. Consequently, the hydraulic conductivity is greater, and the sorption of hydrophobic herbicides is up to 2 times greater in ditch bed materials than it is in soils located farther away from the ditch surface. Moreover, significant macroporal flow was evidenced in both profiles but with different contribution to the global flow. The contrasts in the hydrodynamic and sorption properties between both the ditch bed and banks materials likely results in significantly different water and pesticide infiltration patterns in ditches compared to crop fields. Given these differences, we recommend investigating the specific properties of ditch beds when studying and modelling water and pesticide fate in croplands

The influence of foreign bank entry on lending to small firms in Tanzania

Developing countries have witnessed an increase in foreign bank participation during the last decade. Using bank level data for the period 1991-2001, we examine the influence of foreign banks on the financing of small firms in Tanzania. Despite dominating the banking sector, results suggest that the financing of small firms by foreign banks is insignificant compared to domestic banks. Clearly, there is a need for a new approach to policy that will encourage significant foreign bank lending to small firms.Banks, Business Economics, Formal and Informal Sectors, Government Policy, Africa, JEL Codes: G21, M21, O17, O38, O55,