McKinney, Lyle; Roberts, Toya
Financial aid counselors are a primary source of information that many students rely upon to understand financial aid and how to pay for college. However, little is known about financial aid counselors at America's community colleges and their interactions with the students they serve. Using original survey data, this study examined the role these…
Castleman, Benjamin L.; Page, Lindsay C.
While considerable effort has been invested to increase FAFSA completion among high school seniors, there has been much less investment to ensure that college freshmen re-apply for financial aid. Text messaging is a promising approach to inform students of important stages in the financial aid re-application process and to connect them to…
Fenske, Robert H.; And Others
The full range of topics relevant to student financial aid are covered in this book by a variety of experts in financial aid administration and scholarship. The volume details how to organize, implement and assess a financial aid program--including how to determine student need, deal with student bankruptcy and aid termination, and improve…
In countries charging tuition fees, and those that are considering adopting tuition fee policies, recent economic conditions are making education less affordable and accessible for students. To combat these challenges, nations, state/regional governments, and universities are experimenting with financial aid programmes by providing non-repayable…
Martin, Robert E.; Gillen, Andrew
The primary purpose of government provided student financial aid is to increase college access by bringing the out-of-pocket price of attendance within reach of more students. The basic idea is quite straightforward. If a good or service costs $100 to buy and the government gives consumers a $50 subsidy, then consumers need only spend $50 of their…
Bosshardt, Donald I.; Lichtenstein, Larry; Palumbo, George; Zaporowski, Mark P.
In the context of a theoretical model of expected profit maximization, this paper shows how historic institutional data can be used to assist enrollment managers in determining the level of financial aid for students with varying demographic and quality characteristics. Optimal tuition pricing in conjunction with empirical estimation of…
Financial aid systems help make higher education available to all who can benefit. To "adjust" the existing financial aid system to make it more student friendly and open doors currently closed to many part-time learners and students with the greatest financial challenges, state policy changes and greater private sector initiatives targeted at…
Woolf, Neil; Martinez, Mario
This research explores the competencies that financial aid officers need to be successful in their jobs. A survey of 30 competencies was distributed to 508 financial aid officers in the Western United States. Respondents were asked to rate 30 job competencies for their relative importance and frequency of use. Using exploratory factor analysis,…
Ragland, Sheri E.
In 2008, state legislatures provided $6 billion in financial aid to 2 million low-income young adults. When low-income young adults receive state financial aid and do not complete college, states lose their investment because fewer people with degrees will contribute to the state's economy. Declining states' budgets have led to (a) the rising cost…
Shireman, Robert; Baum, Sandy; Steele, Patricia
Over the past year, the authors have discussed college prices, college quality, and student financial aid with elected officials and staff from several state legislatures, financial aid administrators from a variety of campuses, and policy analysts from Washington DC advocacy organizations. They have also been able to informally gain insights at…
The outcomes states gain from investing in postsecondary financial aid programs remain hotly debated, leading to great interest in developing programs that are both cost-effective and productive in helping states meet goals. In the 2012-13 academic year, states collectively provided approximately $11.2 billion in financial aid to students enrolled…
We investigate how undergraduates' financial aid packages affect their subsequent donative behavior as alumni. The empirical work is based upon micro data on alumni giving at an anonymous research university. We focus on three types of financial aid, scholarships, loans, and campus jobs. A novel aspect of our modeling strategy is that, consistent with the view of some professional fundraisers, we allow the receipt of a given form of aid per se to affect alumni giving. At the same time, our mo...
Coria, Elizabeth; Hoffman, John L.
The purpose of this study was to explore relationships between financial aid awards and measures of student academic achievement. Financial aid and academic records for 11,956 students attending an urban California community college were examined and analyzed using simultaneous linear regression and two-way factorial ANOVAs. Findings revealed a…
Weissman, Evan; O'Connell, Jesse
"Aid Like A Paycheck" is a large-scale pilot evaluation of whether an innovative approach to disbursing financial aid can improve academic and financial outcomes for low-income community college students. Lessons from the pilot evaluation were used to create and fine-tune a logic model depicting activities, outputs, mediators, and…
Long, Bridget Terry; Riley, Erin
In this article, Bridget Terry Long and Erin Riley argue that in recent years, U.S. financial aid policy has shifted its emphasis from expanding college access for low-income students toward defraying the costs for middle- and upper-income families. They explain how loans, merit-based aid, and education tax breaks are increasingly replacing…
... Public Meeting on Recommendations for Improvement of Student Financial Aid Offer Forms, Development of... interested parties to discuss and offer recommendations for improvements to student financial aid offer forms... financial aid offer forms. We announce the development of a Model Financial Aid Offer page on the...
Hossler, Don; Kwon, Jihye
There is a dearth of empirical work that examines the relationships between federal financial aid policy and institutional financial aid priorities and expenditures. This study uses Resource Dependency Theory to explore whether changes the amount of financial aid awarded by colleges and universities during the last fifty years are best explained…
Carmen Valentina RADULESCU
Full Text Available The paper deals with the basic theoretical aspects and the policy of the European Union, which is financed by a number of budgetary instruments. Under this policy, Romania is qualified for financial aid to support economic and social development of the country. This aid is considerably higher than that the aid received by the pre-accession PHARE, ISPA and SAPARD programs. The EU serves for the financing of policies, the largest amounts being allocated to the common agricultural policy. The paper bring in details on several aspects such as: what are the structural funds, which are institutions that manage them, and the ways of accessing these funds.
Alliance for Excellent Education, 2008
The price of college, particularly relative to the amount of available financial aid, has been increasing and has been cited as a major barrier to college attendance and completion. And given the recent economic downturn, these issues have taken on even greater significance to students, their families, educators, employers, policymakers and…
Green, Thomas C.
Over the last century, Americans have formed a social contract with higher education through the development of and changes to student financial aid programs. These federal, state, and institutional programs are the manifestation of the value we place on who should and who does pay the costs of higher education. Grants versus loans and low-income…
Olivas, Michael A.
A surprising amount of litigation and legislation has erupted over undocumented college students. Victims at the federal level are the DREAM Act and immigration reform. Financial aid raises technical issues for undocumented college applicants and for the citizen children of undocumented parents. Generally, the undocumented are ineligible for…
The paper compares different aid policy instruments and their effect on the target group. Starting from a situation where interest groups compete for the resources of the government, international financial institutions aim to change the policy outcome. They can either directly support one group or condition their financial help to the government on its policy. Apart from a normative analysis which policy is more adequate to help one group, the paper also asks what happens if the IFI is drive...
National Association of Student Financial Aid Administrators (NJ1), 2010
The majority of college financial aid offices have seen cuts to their operating budgets this year compared to the 2007-08 academic year when the recession began, according to the National Association of Student Financial Aid Administrator's latest QuickScan Survey. Sixty-two percent of financial aid offices reported operating budget cuts this year…
Students at a college or university who receive need-based financial aid, receive a tremendous financial resource compared to those students who do not receive need based financial aid. A sample of 100 students from various backgrounds and skills were surveyed. The survey asked questions of the two student groups: received need based financial aid…
This study analyzed 586 students from nine vocational high schools in three provinces in China. It found a substantial gap between the demand for and the supply of government financial aid. Moreover, correct student aid information and aid application was not equally distributed among various student groups. A financial aid application made a…
US Department of Education, 2005
This student guide provides financial aid information for high school seniors and college students. The first few pages of this guide are a quick reference to federal student aid programs and how to apply. Most student financial aid comes from the federal government programs, which the U.S. Department of Education's Federal Student Aid (FSA)…
Hillman, Nicholas W.; Orians, Erica Lee
This brief utilizes the most recent and rigorous financial aid research to inform state higher education leaders about innovative and effective financial aid practices. By simplifying aid eligibility requirements, improving the aid application process, and engaging in early awareness efforts, states could improve the effectiveness of existing aid…
Park, Julie J.; Denson, Nida; Johnson, Matthew
Financial aid plays a critical role in college access and student success. It plays an increasingly important role as the college-going population continues to diversify and the cost of college continues to rise at both public and private institutions. In this study, the authors examined whether institutional level financial aid has any direct…
Department of Education, Washington, DC. Student Financial Assistance.
This Spanish-language publication explains what federal student financial aid is and what types of student aid are available. The introductory section, "Student Aid at a Glance," presents information about what student aid is, who gets it, and how to get it. The second section discusses "Finding out about Student Aid." The next section provides…
Trends in financial aid to students in Maryland colleges and universities are reported. Attention is directed to the distribution of different types of aid to undergraduate and graduate students, and financial aid awarded by type of institution. Characteristics of recipients of Guaranteed Student Loans, General State Scholarships, and Senatorial…
Mathematica, Inc., Bethesda, MD.
In this report four models are formulated which forecast the enrollment and financial needs of students in higher education. The four models are: the undergraduate enrollment model, postbaccalaureate enrollment model, undergraduate student aid model, and postbaccalaureate student aid model. In addition to computing total financial needs, these…
Hossler, Don; Kalsbeek, David
In our previous essay, we considered the role of institutional financial aid and the practice of enrollment management. In that essay we explored the use of financial aid as a tool to enhance equity increase prestige, as a revenue enhancement tool and as a means to shape institutional image in the various markets that comprise our diverse system…
... Fidelity National Financial, Inc.; Analysis of the Agreement Containing Consent Order to Aid Public Comment... or unfair methods of competition. The attached Analysis to Aid Public Comment describes both the.... Comments should refer to ``Fidelity National Financial, File No. 091 0032'' to facilitate the...
Knight, Mary Beth
Colleges and universities represent one of the most utilized sources of need-based financial aid information for students and families, and yet most research in access marketing is focused at the national and state levels. There is sparse published information about the effects of financial aid marketing observed through quantitative analysis, in…
Advisory Committee on Student Financial Assistance, 2008
Students and parents need ample time and accurate information to prepare for the financial burden of a college education--those who lack this knowledge base face a significant access barrier to higher education. This problem can be countered by the delivery of comprehensive, integrated financial aid information, an approach identified by the…
Office of Student Financial Assistance (ED), Washington, DC.
This guide, written in Spanish, describes federal student aid programs for postsecondary education and how to apply for them. It begins by outlining sources for learning about student aid, such as school financial aid administrators, state higher education agencies, foundations, organizations related to particular fields of interest and toll-free…
National Association of Student Financial Aid Administrators (NJ1), 2013
As the student aid programs rapidly approach reauthorization in 2014, they continue to face severe funding and efficiency problems. With grant assistance from the Bill & Melinda Gates Foundation through their "Reimagining Aid Design and Delivery" (RADD) project, the National Association of Student Financial Aid Administrators (NASFAA) examined…
Provides multiple workable solutions financial aid offices can offer students throughout their college experience to deal with debt: preventive solutions for avoiding problems with credit card debt, holistic solutions for other related problems, and remedial solutions for existing problems. (EV)
Broomhead, Keiko Shimizu
To better understand how a once well-intentioned concept of financial tuition assistance for college students has devolved into its current troubled and broken state, this doctoral thesis explored the evolution of the U.S. system of federal financial aid in higher education from a historical perspective. The study began with a review of the…
Humlum, Maria Knoth; Vejlin, Rune Majlund
We investigate the effects of financial aid on student employment and academic outcomesin high school. We exploit administrative differences in the amount of financial aid receivedbased on timing of birth to identify the causal effects of interest. Specifically, individualsborn early in a quarter receive less financial aid than comparable individuals born late in theprevious quarter. We find that receiving less aid induces individuals to work more during highschool. However, we do not find an...
St. John, Edward P.; And Others
Analysis of effects of different student financial aid types on year-to-year persistence of high school seniors of 1980 found social and educational background had differential effects at different points in the college experience, college experiences were influential, student aid had a positive effect on persistence, and loans promoted…
Whiteside, Richard; Mentz, George S.
A college degree is one of the most expensive purchases an American family can make. While today's costs are higher than ever before, parents have many more options whose sheer number and complexity have given rise to a whole new field-financial planning for college. This article, which is based on materials created for the enrollment management…
The federal government plays an indispensable role in helping community college students pay for their education. It is hard to imagine today's community college campuses without needs-based federal student aid, such as the Pell Grant program and subsidized loans. There are, however, significant differences between community college students and…
... information it obtains from the Secretary, through the National Student Loan Data System (NSLDS) or its..., HEA loan programs; and (5) For the academic year for which title IV, HEA aid is requested, the amount..., updated information about that student so it can make the determinations required under paragraph (a)...
This paper examines the effects of tuition and financial aid on first-year college majors at three large public institutions. Higher net costs of college attendance (tuition minus aid) increase the probability of choosing professional majors and decrease the probability of choosing humanities and science majors. The effect of tuition on the probability of choosing a major is generally larger for students with more high school credits in similar subjects and smaller for those with more credits...
Department of Education, Washington, DC.
This booklet, written in Spanish, is intended to be used with a set of slides as part of a presentation to students on "How To Apply for Federal Student Aid" ("Como Solicitar la Asistencia Economica Federal para Estudiantes"). The first part of the book is a script based on the slides. After the script is a guide to hosting a financial aid…
This study was conducted in two phases. One, the Cost Analysis, reports on inventory and analysis of actual estimated costs for delivering financial aid services to students and potential students in thirteen Colorado Community College System (CCCS) community colleges in Fiscal Year 2003. Additionally, an assessment of services and functions is…
Ampaw, Frimpomaa D.
Forty-three percent of doctoral students never complete their degree. This dropout is the highest among graduate and professional degree programs. Previous cross sectional studies of doctoral students' retention show the importance of financial aid in predicting degree completion. The studies however, do not estimate the labor market's effect on…
Loyalka, Prashant Kumar
Since the late 1990s, China has dramatically increased its college enrollments, the number and diversity of its higher education institutions, university tuition fees, and financial aid. Now students from a wider range of backgrounds have significantly more opportunities to attend college and also compete for entry into more selective…
Melguizo, Tatiana; Torres, Fabio Sanchez; Jaime, Haider
The main objective of this study is to estimate the association between financial aid and college dropout rates of postsecondary students in Colombia. We use a unique dataset from the Colombian Ministry of Education that includes all enrolled college students in the country between 1998 and 2008. Logistic regression is used to identify the…
Low-income students face a number of obstacles that go beyond the cost of tuition and fees. For instance, their schooling often requires expenses that aren't covered by financial aid, such as books and commuting costs. What's more, education is often competing for their time with other responsibilities, such as the need to work or take care of…
Río-Ruiz, Manuel Ángel; Jiménez-Rodrigo, María Luisa; Caro-Cabrera, Manuel Jesús
In 2012 Spain inaugurated a reform of its higher education financial aid system inspired by three principles: cost-sharing, increasing academic performance and school efficiency. This reform has shifted the aim of the system from equality of access to a type of meritocracy that can be defined as class-biased, as it is only applied to low-income…
Ambrose, Allison S.; Hines, Edward R.; Hodel, Ross A.; Kelly, Kathleen F.; Mushrush, Christopher E., Pruden, Sheila J.; Vogt, W. Paul
This report is a companion to "Recession, Retrenchment and Recovery: Higher Education Funding and Student Financial Aid" (ED502180). It provides profiles of individual states and their performance on a variety of measures used in the economic and fiscal analysis of the Recession, Retrenchment and Recovery project. The profiles describe the results…
National Collegiate Athletic Association (NJ1), 2009
This report marks the completion of the 2008-09 reporting cycle and the fourth year of the Division III Financial Aid Reporting Program. The report examines findings for all reporting institutions from each of the four reporting cycles, and details the outcomes of the Division III Financial Aid Committee's 2008-09 review process. Four calculations…
Venegas, Kristan M.; Hallett, Ronald E.
Group presentations are an easy way to reach large groups of students and parents at one time. When group presentations are well done, they increase students' and families' knowledge of the financial aid process by providing information and building students' and their families' confidence as they navigate the financial aid process. Unfortunately,…
Feeney, Mary; Heroff, John
Access to financial aid is dependent on a variety of factors, including the time of application; the earlier students apply for financial aid, the greater their access to institutional and often state resources. We use the Illinois Monetary Award Program (MAP) as a case for investigating the economic, social, and academic factors that affect…
Humlum, Maria Knoth; Vejlin, Rune Majlund
We investigate the effects of financial aid on student employment and academic outcomes in high school. We exploit administrative differences in the amount of financial aid received based on timing of birth to identify the causal effects of interest. Specifically, individuals born early in a...
Eastaugh, S R
This article outlines the issues in cost identification and fair payment for acquired immune deficiency syndrome (AIDS) research. Costs need to be better identified using activity-based costing methods to reveal the structural pattern of care. Patterns of care can be too expensive if they: (1) overutilize the hospital as the locus of care, or (2) underutilize prevention and education. Managers need to learn more about the cost identification issues payers face in designing a fair payment system. In the long run, more health care professionals would serve the cause of innovation and biomedical research if they all work together to define a stable fair funding mechanism. Payers need to learn that fair payment of indirect costs is not a bonus or a windfall profit. PMID:9718508
Lovenheim, Michael F.; Emily G. Owens
In 2001, amendments to the Higher Education Act made people convicted of drug offenses ineligible for federal financial aid for up to two years after their conviction. Using rich data on educational outcomes and drug charges in the NLSY 1997, we show that this law change had a large negative impact on the college attendance of students with drug convictions. On average, the temporary ban on federal financial aid increased the amount of time between high school graduation and college enrollmen...
Through the Free Application for Federal Student Aid, or FAFSA, the federal government provides more financial aid for higher education than any other institution. But because of discriminatory laws the FAFSA treats families headed by two mothers or two fathers differently than families headed by a mother and a father. This treatment distributes…
What Works Clearinghouse, 2014
The 2014 study, Freshman Year Financial Aid Nudges: An Experiment to Increase FAFSA Renewal and College Persistence, measured the impact of sending text message reminders regarding annual Free Application for Federal Student Aid (FAFSA) renewal to first-year college students who were already receiving financial aid. The study sample included 808…
Full Text Available Abstract Background The governments and citizens of the developed nations are increasingly called upon to contribute financially to health initiatives outside their borders. Although international development assistance for health has grown rapidly over the last two decades, austerity measures related to the 2008 and 2011 global financial crises may impact negatively on aid expenditures. The competition between national priorities and foreign aid commitments raises important ethical questions for donor nations. This paper aims to foster individual reflection and public debate on donor responsibilities for global health. Methods We undertook a critical review of contemporary accounts of justice. We selected theories that: (i articulate important and widely held moral intuitions; (ii have had extensive impact on debates about global justice; (iii represent diverse approaches to moral reasoning; and (iv present distinct stances on the normative importance of national borders. Due to space limitations we limit the discussion to four frameworks. Results Consequentialist, relational, human rights, and social contract approaches were considered. Responsibilities to provide international assistance were seen as significant by all four theories and place limits on the scope of acceptable national autonomy. Among the range of potential aid foci, interventions for health enjoyed consistent prominence. The four theories concur that there are important ethical responsibilities to support initiatives to improve the health of the worst off worldwide, but offer different rationales for intervention and suggest different implicit limits on responsibilities. Conclusions Despite significant theoretical disagreements, four influential accounts of justice offer important reasons to support many current initiatives to promote global health. Ethical argumentation can complement pragmatic reasons to support global health interventions and provide an important
Author highlights the necessity to draw international financial aid for Ukraine, identify similarities and differences of "Marshall Plan" for post-war Europe and current financial aid for Ukraine. She explains the investment levers of "Marshall Plan" which are extremely important for reconstruction of the Ukrainian economy and modernization of its production basis. Author elaborates the key principles of formation and allocations of the foreign financial aid for Ukraine, which are related to ...
Office of Federal Student Aid (ED), Washington, DC.
This Spanish language publication explains what federal student financial aid is and the types of student financial aid that are available. The guide opens with an overview of federal student financial aid, and then discusses how to find out about student aid. A section of general information discusses eligibility and dependency. Types of federal…
Zhang, Chen; Li, Xiaoming; Liu, Yu; Qiao, Shan; Zhang, Liying; Zhou, Yuejiao; Shen, Zhiyong; Tang, Zhengzhu
Numerous researches have shown pernicious effects of stigma against people living with HIV/AIDS (PLWHA). However, no available studies have reported these negative effects including emotional, physical to financial burdens to PLWHA. In the current study, we aim to explore different types of stigma (e.g., perceived, internalized and enacted) and the relevant consequences among PLWHA in China. A cross-sectional study was conducted from 2012 to 2013 in the Guangxi Autonomous Region in China. The validated Berger HIV Stigma Scale was used to measure various types of stigma. We employed a series of linear, logistic and polytomous regression models to assess the association between stigma and different consequences while accounting for potential confounders for each specific model. Of the total sample, 2987 PLWHA provided valid responses with 63% being male and having an average age of 42.9 years. Perceived, internalized and enacted HIV stigma were prevalent among participants, and resulted in various burdens with different magnitudes in their life contexts. Specially, PLWHA who reported higher perceived and internalized stigma were more likely to be imposed on emotional and physical burdens (p financial burden compared to their peers (p < .05). Our findings revealed that devastating consequences of HIV-related stigma in China. The prevalent stigmatizing attitudes have pushed PLWHA to the fringes of society and affected them at multiple aspects in their life context. We call for tailored efforts to overcome stigma and discrimination against PLWHA. PMID:26886415
Full Text Available In Bangladesh, a majority of individuals with spinal cord injuries (SCI are either poor or very poor. In most cases, their families undergo extreme hardship as they lose the income of the only or main earning member, and are unable to bear costs of rehabilitation.Purpose: This mixed method study explored perspectives of individuals with SCI regarding financial aid in the form of interest-free loans for their treatment and rehabilitation at the Centre for the Rehabilitation of the Paralysed (CRP.Method: In the first part of the study, 10 semi-structured face-to-face interviews were conducted. In the second part of the study, 40 persons with SCI were surveyed. The qualitative method involved selection of respondents according to their age, sex and severity of disability. Quantitative interviews were conducted with all persons with SCI in the final stage of hospital rehabilitation, in the third quarter of 2008. Results: Though CRP provides financial support depending on the individual’s economic status, many persons with SCI needed additional funding from multiple sources, such as savings (42.5%, mortgaging assets (12.5%, selling assets (45%, receiving loans (37.5%, begging for money (42.5%, and receiving donations from relatives (47.5% or the community (30%, to meet the direct and indirect costs of rehabilitation. Majority (85% of those interviewed wanted to receive financial aid in the form of interest-free loans. 76.4% of them wanted the loans to be disbursed in two phases; initially, to offset some of their costs during rehabilitation at CRP, and thereafter, for economic reintegration in their community. The remaining 23.6% wanted the loan only for vocational reintegration. 70.59% of those interviewed proposed repayment in monthly instalments, while 17.64% suggested quarterly instalments and 11.76% favoured annual instalments. Over half of the participants (55.88% wanted to have vocational training, and the rest wanted vocational training for
Singell, Larry D., Jr.
Few studies have examined whether financial aid affects college retention. This paper models the decision to enroll and re-enroll in college, which yields a bivariate probit model that is estimated using detailed individual data from a large public university. The analysis uses the unique detail of institution-specific data to examine the effect…
Jobs for the Future, 2012
Many states are looking at effective ways to use financial incentives to encourage students to complete a postsecondary credential. JFF's new report, "Statewide Aid Policies to Improve College Access and Success", originally commissioned by the Massachusetts Department of Higher Education's Vision Project, has provided valuable background for that…
Department of Education, Washington, DC.
This guide is intended to provide guidance to college and university business office personnel who handle recordkeeping, accounting, and other fiscal reporting functions for federal Title IV financial aid programs, as authorized by the Higher Education Act of 1965, as amended. This edition emphasizes the benefits and challenges of electronic…
Department of Education, Washington, DC.
This book provides guidance to school business office personnel who handle fiscal recordkeeping, accounting, and reporting functions for federal Title IV student financial aid programs authorized by the Higher Education Act of 1965, as amended. It provides a technical resource for Title IV management responsibilities that are shared among various…
The impact of student aid policies on women is assessed. Differences in the conditions affecting men's and women's need for aid are identified, along with actions that could improve women's participation in student aid programs. Gender issues in student aid policy include: loan burden, default, and bankruptcy; the award of merit scholarships;…
Belley, Philippe; Frenette, Marc; Lochner, Lance
This paper examines the implications of tuition and need-based financial aid policies for family income - post-secondary (PS) attendance relationships. We first conduct a parallel empirical analysis of the effects of parental income on PS attendance for recent high school cohorts in both the U.S. and Canada using data from the 1997 Cohort of the National Longitudinal Survey of Youth and Youth in Transition Survey. We estimate substantially smaller PS attendance gaps by parental income in Cana...
Advisory Committee on Student Financial Assistance, 2008
Students and parents need ample time and accurate information to prepare for the financial burden of a college education--those who lack this knowledge base face a significant access barrier to higher education. The early intervention community is calling for a method of delivering age-appropriate information in a timely manner as one means of…
... page: //medlineplus.gov/ency/article/000594.htm HIV/AIDS To use the sharing features on this page, ... immunodeficiency virus (HIV) is the virus that causes AIDS. When a person becomes infected with HIV, the ...
Steiner, Viktor; Wrohlich, Katharina
We estimate the elasticity of enrollment into higher education with respect to the amount of means tested student aid (BAfoeG) provided by the federal government using the German Socioeconomic Panel (SOEP). Potential student aid is derived on the basis of a detailed tax-benefit microsimulation model. Since potential student aid is a highly non-linear and discontinuous function of parental income, the effect of BAfoeG on students’ enrollment decisions can be identified separately from parental...
... Other Sites: Genetic and Rare Diseases Information Center Financial Assistance Information The National Institutes of Health (NIH) ... area call 900-638-0742. Top of page Financial Aid for Medical Treatments Information on financial aid ...
Ala, Fereydoun; Allain, Jean-Pierre; Bates, Imelda; Boukef, Kamel; Boulton, Frank; Brandful, James; Dax, Elizabeth M; El Ekiaby, Magdy; Farrugia, Albert; Gorlin, Jed; Hassall, Oliver; Lee, Helen; Loua, André; Maitland, Kathryn; Mbanya, Dora; Mukhtar, Zainab; Murphy, William; Opare-Sem, Ohene; Owusu-Ofori, Shirley; Reesink, Henk; Roberts, David; Torres, Oscar; Totoe, Grace; Ullum, Henrik; Wendel, Silvano
Jean-Pierre Allain and colleagues argue that, while unintended, the foreign aid provided for blood transfusion services in sub-Saharan Africa has resulted in serious negative outcomes, which requires reflection and rethinking....
Castruccio, P. A.; Marantz, C. S.; Freibaum, J.
Questions regarding the role of a mobile-satellite system in augmenting the terrestrial communications system are considered, and a market assessment study is discussed. Aspects of an investment analysis are examined, taking into account a three phase financial study of four postulated land Mobile Satellite Service (LMSS) systems, project profitability evaluation methods, risk analysis methods, financial projections, potential investor acceptance standards, and a risk analysis. It is concluded that a satellite augmented terrestrial mobile service appears to be economically and technically superior to a service depending exclusively on terrestrial systems. The interest in the Mobile Satellite Service is found to be worldwide, and the ground equipment market is potentially large.
Cowan, Benjamin W; White, Dustin R
We study the effect of state-level merit aid programs (such as Georgia's HOPE scholarship) on alcohol consumption among college students. Such programs have the potential to affect drinking through a combination of channels--such as raising students' disposable income and increasing the incentive to maintain a high GPA--that could theoretically raise or lower alcohol use. We find that the presence of a merit-aid program in one's state generally leads to an overall increase in (heavy) drinking. This effect is concentrated among men, students with lower parental education, older students, and students with high college GPA's. Our findings are robust to several alternative empirical specifications including event-study analyses by year of program adoption. Furthermore, no difference in high-school drinking is observed for students attending college in states with merit-aid programs. PMID:26476389
Full Text Available This paper focuses on state aid’s role in the current financial and economic crisis, in order to help all the economic sectors to get back on their feet. The negative effects of the sub-prime mortgage lending affected not only the US, but also the Europea
One justification for public support of higher education is that prospective students, particularly those from underprivileged groups, lack complete information about the costs and benefits of a college degree. Beyond financial considerations, students may also lack information about what they need to do academically to prepare for and…
Dennis, Marguerite J.
Suggestions for changes administrators can make to assist students in debt management include (1) administrator willingness to expand his/her role and help other officials accept the change; (2) establishment of programs in financial counseling, debt management, and debt counseling; and (3) exploration of creative ways to finance educational…
Ministerio de Educacion Nacional, Bogota (Colombia). Instituto Colombiano de Pedagogia.
This booklet describes the procedures and requirements to be observed when financial support for education research is requested from the Instituto Colombiano de Pedagogia (ICOLPE), an educational improvement agency established by the Colombian government in 1968. The educational priorities for research are listed along with the rules and format…
The federal government and the states have recently enacted a slew of aid policies aimed at college students from middle- and high-income families. I estimate the impact of aid on the college attendance of middle- and upper-income youth by evaluating Georgia's HOPE Scholarship, the inspiration of the new federal Hope Scholarship. The results suggest that Georgia's program has had a surprisingly large impact on the college attendance rate of middle- and high-income youth. Using a set of nearby...
Following the collapse of Lehman Brothers in the fall of 2008, governments worldwide went on massive spending sprees in a bid to stimulate the flagging world economy. Typical measures targeted at specific sectors included government bailouts of financial firms and support for the automotive industry such as the U.S. federal government's program designed to support the country's Big Three carmakers. As more comprehensive programs, the American Recovery and Reinvestment Act of 2009 (ARRA) in th...
National Association of Student Financial Aid Administrators (NJ1), 2011
The National Association of Student Financial Aid Administrators (NASFAA) recently conducted a survey on the 2009-10 award year Administrative Cost Allowances (ACA), which are funds used by colleges and universities to support operations and professional development. Specifically, ACA is often used in essential areas that support the day-to-day…
Xu, G; Veloski, J J; Barzansky, B; Hojat, M; Diamond, J; Silenzio, V M
A national survey of family physicians, general internists, and general pediatricians was conducted in the US to examine differences among the three groups of generalists physicians, with particular regard to the factors influencing their choice of generalist career. Family physicians were more likely to have made their career decision before medical school, and were more likely to have come from inner-city or rural areas. Personal values and early role models play a very important role in influencing their career choice. In comparison, a higher proportion of general internists had financial aid service obligations and their choice of the specialty was least influenced by personal values. General pediatricians had more clinical experiences either in primary care or with underserved populations, and they regarded medical school experiences as more important in influencing their specialty choice than did the other two groups. Admission committees may use these specialty-related factors to develop strategies to attract students into each type of generalist career. PMID:24179019
The National Postsecondary Student Aid Study by the U.S. Department of Education examines the amount and types of aid students receive nationwide. The study covered aid distributed by the federal government, state governments, colleges and universities, and other sources. (MLW)
Full Text Available Abstract Background Financial incentives appear to be effective in promoting smoking cessation in pregnancy. The mechanisms by which they might operate however, are poorly understood. The present study examines how financial incentives for smoking cessation during pregnancy may work, by exploring pregnant women's experiences of trying to stop smoking, within and outside of a financial incentives scheme. Methods Thirty-six (n = 36 UK-based pregnant smokers (n = 36, offered standard NHS Stop-Smoking Services, of whom twenty (n = 20 were enrolled in a financial incentives scheme for smoking cessation (n = 20 and sixteen (n = 16 were not, were interviewed about (i their motivation to stop smoking, and (ii the factors they perceived as influencing their quitting efforts. Framework Analysis was used to analyse the data. Results Women in the two groups reported similar reasons for wanting to stop smoking during pregnancy. However, they described dissimilar experiences of the Stop-Smoking Services, which they perceived to have differentially influenced their quit attempts. Women who were incentivised reported using the services more than women who were not incentivised. In addition, they described the motivating experience of being monitored and receiving feedback on their progress. Non-incentivised women reported problems receiving the appropriate Nicotine Replacement Therapy, which they described as having a detrimental effect on their quitting efforts. Conclusion Women participating in a financial incentives scheme to stop smoking reported greater engagement with the Stop-Smoking Services, from which they described receiving more help in quitting than women who were not part of the scheme. These results highlight the complexity of financial incentives schemes and the intricacies surrounding the ways in which they operate to affect smoking cessation. These might involve influencing individuals' motivation and self-regulation, changing engagement with
Coleman, Emily L.
Persistence theorists emphasize the importance of faculty and staff interactions with students. Yet many overlook how affordability influences a student's decision to remain enrolled. As a result this qualitative, grounded theory study addresses the relationship between private college and university financial assistance policies and programs to…
Carrington, Michal; Chen, Richard; Davies, Martin; Kaur, Jagjit; Neville, Benjamin
An argument map visually represents the structure of an argument, outlining its informal logical connections and informing judgments as to its worthiness. Argument mapping can be augmented with dedicated software that aids the mapping process. Empirical evidence suggests that semester-length subjects using argument mapping along with dedicated…
在政策性与市场化的支持与资助的双重作用下，我国文化产业已发展成为新兴产业的重要组成部分，但其规模化和集约化仍受制约。法国CNC产业自主性和选择性资助模式的实践经验启示，资助投入的方式、规模和时机对于资助的效果具有重要作用。建立以市场为导向的多层次资助模式，充分发挥产业资助的杠杆作用，实现文化产业价值链、企业链、供需链和空间链的全方位提升，提高文化产品和服务的附加值，增加文化企业的竞争力，满足国内文化产业可持续发展的需要。%Under the dual role of policy and market support,cultural industry has become an important part of the China’s emerging industry. However,the current China’s cultural industry is still restricted by scale and inten-sive development. According to the practical experience of automatic and selective financial aid mode of French CNC industry,the investment approach,size and opportunity play important roles to the effect of the funding. Thus, a multiple-layer financial aid model of market-oriented should be established in order to give full play to the le-ver function of financial aid;realize the full range of promotion of the value chain,business chain,supply chain and space chain;increase the added value of cultural goods and services,and meet the needs of sustainable development of domestic cultural industry.
随着国家和社会的高度重视，高校家庭经济困难学生的资助与教育培养已成为高校关注的重要课题。但目前众多高校尚未健全学校、院系两级学生资助管理体系，影响了资助工作开展的实效性。本文从高校院系基层单位资助工作实践的视角出发，探索构建适应院系基层单位的资助工作二级管理体系，以促进高校资助工作的科学化和整体化水平。%With the high emphasis from both the country and the society ,the financial aid and ed‐ucational cultivation to the underprivileged university students have become important projects con‐cerned by universities .However ,recently many universities have not yet improved the second‐level management systems (i e. .university and college) for students’ financial aid ,so that the efficiency of financial aid is affected .T his paper ,based on the perspective of financial aid practice by the basic u‐nits ,explores the construction of second‐level management system for financial aid so as to promote the scientific and integrated management level .
Faulk, Dagney G.; Wang, Zhenlei
Tuition assistance offered by employers is an understudied area of financial aid research. The purpose of this study is to compare the demographic, socioeconomic, academic and financial aid characteristics of college students who receive employer-sponsored financial aid with students who receive traditional financial aid (institutional, state, or…
Landry, Lynette; Neubauer, Deane
The overall financial structure of US higher education has changed dramatically over the past 30 years, resulting in a significant reduction of public funding. One result of this shift has been the steadily increasing costs of tuition as an increasing portion of the financial structure of higher education is shifted to students. Increased costs to…
Recent evidence highlights several worrisome trends regarding aid pledges and disbursements, which have been exacerbated by the global financial crisis. First, while overall development assistance rose in 2008, after 2 years of decline, the share of all sector aid going to the education sector has remained virtually unchanged at about 12 percent…
Full Text Available Financial Structures and Economic Development This paper examines the relationship between the evolution of financial services and long-run economic growth. Liquidity risk, productivity risk, transactions costs. and information gathering and resource coordination costs create incentives for the emergence of financial contracts and institutions. The level of income per capital public policies, and legal codes determine the provision of financial services aid the types of financial structures that provide these services. The resultant financial structures can alter investment incentives, such that the steady state growth rate of per capita output increases.
CAME-Toolsuite meet2trade - auf dem Weg zum Computer Aided Market Engineering. Abschlussbericht des Projekts Electronic Financial Brokerage als wissensintensive Dienstleistung - ein generischer Ansatz (EFB)
Weinhardt, Christof; Dinther, Clemens van; Grunenberg, Michael; Kolitz, Klaus; Kunzelmann, Matthias; Mäkiö, Juho; Weber, Ilka; Weltzien, Henning
Die zunehmende Verbreitung von elektronischen Märkten aber auch die Fehlentwicklungen der letzten Jahre zeigen, dass eine strukturierte Vorgehensweise bei der Gestaltung und Implementierung elektronischer Märkte nicht nur sinnvoll, sondern auch notwendig ist. Ein wichtiger Schritt in diese Richtung wurde mit der im Rahmen des Projekts Electronic Financial Brokerage (EFB) entwickelten CAME-Toolsuite meet2trade gegangen.meet2trade unterstützt den gesamten Prozess des Market Engineering von der ...
... 7 Agriculture 1 2010-01-01 2010-01-01 false Auxiliary aids. 15b.37 Section 15b.37 Agriculture... ACTIVITIES RECEIVING FEDERAL FINANCIAL ASSISTANCE Other Aid, Benefits, or Services § 15b.37 Auxiliary aids... appropriate auxiliary aids to persons with impaired sensory, manual, or speaking skills, where necessary...
Turner, John D.
This essay looks at the bidirectional relationship between financial history and financial economics. It begins by giving a brief history of financial economics by outlining the main topics of interest to financial economists. It then documents and explains the increasing influence of financial economics upon financial history, and warns of the dangers of applying financial economics unthinkingly to the study of financial history. The essay proceeds to highlight the many insights that financi...
Eisenberg, Meyer; Franke, Ann H.
The investigations of student-loan programs around the country echo previous scandals in the financial world involving stock offerings and mutual funds. The relationships between lenders and financial-aid officers seem to raise the same questions about impropriety, conflict of interest, and possible fraud. Indeed, lessons from Wall Street can…
Peter J Morgan; Pontines, Victor
Developing economies are seeking to promote financial inclusion, i.e., greater access to financial services for low-income households and firms, as part of their overall strategies for economic and financial development. This raises the question of whether financial stability and financial inclusion are, broadly speaking, substitutes or complements. In other words, does the move toward greater financial inclusion tend to increase or decrease financial stability? A number of studies have sugge...
Student Financial Assistance (Student Loan Programs, Graduate Programs, State Programs, Grants, and Institutional Aid); Hearings Before the Special Subcommittee on Education of the Committee on Labor and Education, House of Representatives, Ninety-third Congress, Second Session. Part 3, Part 4, Part 5, Part 6, and Part 7.
Congress of the U.S., Washington, DC. House Committee on Education and Labor.
These documents contain the hearings before the Special Subcommittee on Education of the House of Representatives dealing with student financial assistance. Separate hearings were conducted for the areas of: student loan programs; graduate programs, grants, and institutional aid. Legislative histories of the five areas were presented along with…
Social Credibility：the Foundation Stone of Risk Prevention of Financial Aid Work on College Students --On Risk Prevention of Financial Aid Work on College Students in View of Sociology%社会诚信：高校学生资助工作风险防范的基石——从社会学视角谈高校资助工作的风险防范
马爱林; 孟令臣; 郭立新; 李建红
高校家庭经济困难学生资助工作中，存在着一些反映社会信用缺失的现象。从社会学的视角，对高校资助工作中社会信用缺失风险的表现、影响因素做了系统分析，并立足高校资助工作的实际，针对性地提出了建构诚信文化机制、严格工作规范机制、建立系统评价机制、强化社会监督机制等防范对策。%In the aid work on callege students with f＇mancial difficulties,there exist some phenomena that lack of social credibility. From a sociological point of view,the manifestation and influencing factors of the risks of social credi- bility are systematically analyzed,meanwhile,basic on the practical condition of financial aid work in colleges,the countermeasures to prevent the risks are put forward, such as establishing a credit cultural mechanism, making working regulation mechanism stricter, setting up a systematic evaluating mechanism, and strengthening social supervision mechanism.
This bachelor's thesis is focused on financial benchmarking of TULIPA PRAHA s.r.o. The aim of this work is to evaluate financial situation of the company, identify its strengths and weaknesses and to find out how efficient is the performance of this company in comparison with top companies within the same field by using INFA benchmarking diagnostic system of financial indicators. The theoretical part includes the characteristic of financial analysis, which financial benchmarking is based on a...
Costa Ramos, Vânia
The following article gives an overview of legal aid for victims in criminal cases in Portugal. It addresses the issues of a victim’s access to a lawyer, when and how the right is granted (right to legal assistance), and under what circumstances the victim has a right to financial legal aid (right to financial legal aid).
Lee, John B.; Clery, Suzanne B.
Examines differences among undergraduates who attended postsecondary education in states that provide different levels of state student financial aid. Describes aid types and sources, the price of college attendance, and personal characteristics of students. Also considers undergraduates' probability of attending institutions in high-aid or…
All the UK's major parties agree on ring-fencing foreign aid spending at current levels, even while the country's dire financial situation requires sharp cuts to other budgets. Peter Boone draws on the evidence on aid effectiveness to argue that our focus should not be on the amount we spend but rather on making aid work better.
Full Text Available New, more or better financial education and financial literacy programmes should lead to improved financial capability, knowledge and outcomes. Yet we do not even know which terminology is most suitable for those projects who all intend to give an answer to a question which is less than clear. What is meant by the term “financial education”? Why did the “demand” for financial education suddenly increase? Have the numerous tasks which consumers in a modern society have to fulfill created this new field for financial education? Are their specific needs of financial markets which need adapted consumers as competent players? Or has the general level of education fallen? Would more ignorance on financial products perhaps increase the likelihood of these markets to care more about consumers? Do we truly need financial education at all and if so, as this article argues, what kind of financial education would respond to it? Based on five years of empirical research, on existing papers and curriculars for financial education and another five years of our own experiences with practical financial education in schools and with clients of debt advice agencies we would like to promote financial education as a form of consumer protection where consumers are seen collectively as the true masters of the economy.
The Financial Sector Assessment Program (FSAP) team produced an Aide Memoire and the following three detailed reports that were reviewed by and delivered to the authorities: 1) technical notes; 2) assessment of compliance with standards and codes; and 3) detailed bank-by-bank stress tests. The Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) section of the report was ...
Gary Gorton; Andrew Winton
The savings/investment process in capitalist economies is organized around financial intermediation, making them a central institution of economic growth. Financial intermediaries are firms that borrow from consumer/savers and lend to companies that need resources for investment. In contrast, in capital markets investors contract directly with firms, creating marketable securities. The prices of these securities are observable, while financial intermediaries are opaque. Why do financial inter...
Jones, Edward Samuel
The recent financial crisis has rekindled interest in the foreign aid supply behaviour of bilateral donors. Using the latest data covering the period 1960-2009, this paper examines how such behaviour is related to domestic factors. Based on a simple empirical model, a distinction is made between...... substantial heterogeneity between countries. There is also good evidence that donor behaviour continues to evolve over time. As such, past trends in aid supplies are unlikely to provide a good guide to those of the future....
在现行的特困生资助体系中，往往会出现康德所谓“二律背反”的两难情境，即关注群体“趋同性”和注重个体连续性是“二律背反”的客观表现。其重要启示在于不但要在经济上给予困难学生及时的资助，更应创新方式方法，在心理、情感、需求等方面给予全方位的关注。具体到应对举措和路径选择上，贫困生资助工作应重点做好“三个环节”的施行与衔接工作。前期认定环节完善机制构建：一是创新贫困生认定程序，着力改变传统班委参与讨论模式；二是提升参与评定者的道德认知；三是注重贫困生的诚信教育。中期资助环节转变资助方式：一是设立更多带有“荣誉感”的资助项目；二是多渠道开拓勤工助学岗位；三是争取社会力量助学；四是建立应急助困资金库。资助后续环节指导、监督与人文关怀并重：一是对学生获助资金的使用进行指导和监督；二是注重人文关怀和心理疏导。%The two dilemma,antinomy,proposed by philosopher Kant,appears often in the current financial aid system for the impoverished college students,that is,the objective performance on the convergence attentioned on the group and attention on the individual durative. The important enlightenment is that the immediate financial aid is necessary offered to the poverty - stricken college students,also the methods and ways should be innovated, whole concern to the students from the psychology,emotion and requirement. From the countermeasures and the se-lected way,the financial aid should pay attention to the performance and connect of the“ Three Links”. The first period is to determine the links and perfect mechanism construction. Firstly,the confirming procedure of impover-ished college students should be innovated,attempting to change the traditional class committee participating dis-cussion mode;sencondly,the moral cognition of the
The composition of the Board of the Mutual Aid Fund for 2011 is as follows: President: Pascal Droux Vice-president: Connie Potter Treasurer: Louis Pereira Deputy treasurer: Barbara Brugger Secretary: Sonia Casenove Deputy secretary: Isabelle Mardirossian Members: Christopher David Thomas Jean-Claude Vialis (GAC member) Marie-Luce Falipou Gunilla Santiard (Jean-Claude Vialis’s alternate) The role of the Fund is to provide financial help to members of personnel and beneficiaries of the Pension Fund who are in need of exceptional financial assistance. All requests are treated in the strictest confidence. Should you wish to apply for aid from the Fund, kindly contact any member of the Board as given above or Social Services, tel.74479 – 73867.
Sayinzoga, Aussi; Bulte, Erwin H.; Lensink, Robert
We organise a field experiment with smallholder farmers in Rwanda to measure the impact of financial literacy training on financial knowledge and behaviour. The training increased financial literacy of participants, changed their savings and borrowing behaviour and had a positive effect on the ne
钟全林; 曹建华; 谢利玉; 方新辉
根据世行贷款项目林中1～7年的平均高及优势木平均高等有关资料，结合利用江西编制的有关地位指数表、蓄积量生长过程表及江西省贫困地区林业发展项目可行性报告等材料，对江西省世行贷款项目林的蓄积收获量进行预测。预测结果显示，项目林可获取的商品材材积为22 743 736 m3。其中间伐商品材材积为760 199 m3，主伐商品材材积为21 983 537 m3。%Based on the height data both mean trees and dominate trees from first year to seventh year, the volume yield for the forests planted with the financial aid from the world Bank's loan in Jiangxi province is forecasted by using some relative tables such as site index table, normal stand volume yield table, and the feasible report on the forestry developmental projects in the poor areas in Jiangxi province. The result shows that 22,743,736 m3 commercial timber volume, including 760,199 m3 intermediate cutting volume and 21,983,537 m3 final felling volume will be gained in those forests.
Arndt, Channing; Jones, Edward Samuel; Tarp, Finn
Controversy over the aggregate impact of foreign aid has focused on reduced form estimates of the aid-growth link. The causal chain, through which aid affects developmental outcomes including growth, has received much less attention. We address this gap by: (i) specifying a structural model of the...... main relationships; (ii) estimating the impact of aid on a range of final and intermediate outcomes; and (iii) quantifying a simplied representation of the full structural form, where aid impacts on growth through key intermediate outcomes. A coherent picture emerges: aid stimulates growth and reduces...
The majority of AIDS patients in Africa rely on traditional healers to treat their disease rather than on Western medicine. Most western medical treatments currently available are beyond the financial resources of all but the wealthiest Africans, and most African countries lack the means to provide serious medical treatment for AIDS patients. AZT is almost the only drug used on a wide scale against AIDS, but its cost is estimated by the World Health Organization at $7-8000/year for each individual, not counting other treatments and hospital care. AIDS therapies offered by African health services exhaust their already meager health budgets. The money is lacking even to buy condoms to prevent the epidemic from spreading. Hospital hygiene may be poor and diagnostic and therapeutic tools lacking even for those AIDS patients able to be treated by modern medical specialists. Africa lacks the financial, scientific, social, and economic means of combatting AIDS. Some AIDS experts suggest that African governments underestimate the number of seropositive individuals in order to avoid frightening the population and discouraging tourists and investors. In the absence of an effective treatment or vaccine, the only tools to fight AIDS will be raising the awareness of the population to the gravity of the threat, systematic screening of blood donors, sterilization of syringes, and distribution of condoms. PMID:12282686
AIDS (acquired immune deficiency syndrome) is caused by HIV (human immunodeficiency virus), and is a syndrome that ... life-threatening illnesses. There is no cure for AIDS, but treatment with antiviral medication can suppress symptoms. ...
... more in both quiet and noisy situations. Hearing aids help people who have hearing loss from damage ... your doctor. There are different kinds of hearing aids. They differ by size, their placement on or ...
... electrical nerve impulses and send them to the auditory nerve, which connects the inner ear to the ... prefer. Cleaning makes a difference in hearing aid comfort. A perfectly comfortable hearing aid can become pretty ...
Foreign aid has evolved significantly since the Second World War in response to a dramatically changing global political and economic context. This article (a) reviews this process and associated trends in the volume and distribution of foreign aid; (b) reviews the goals, principles and instituti......Foreign aid has evolved significantly since the Second World War in response to a dramatically changing global political and economic context. This article (a) reviews this process and associated trends in the volume and distribution of foreign aid; (b) reviews the goals, principles and...... institutions of the aid system; and (c) discusses whether aid has been effective. While much of the original optimism about the impact of foreign aid needed modification, there is solid evidence that aid has indeed helped further growth and poverty reduction...
Jothi, A Lenin
Financial services, particularly banking and insurance services is the prominent sector for the development of a nation. After the liberalisation of financial sector in India, the scope of getting career opportunities has been widened. It is heartening to note that various universities in India have introduced professional courses on banking and insurance. A new field of applied mathematics has come into prominence under the name of Financial Mathematics. Financial mathematics has attained much importance in the recent years because of the role played by mathematical concepts in decision - m
Feingold, S. Norman
Approximately 95 percent of affiliated Jewish youth attend college. Much is happening in student aid today that will probably affect parents and their children. Issues of importance include: (1) legal considerations; (2) sources of financial aid; (3) applying for financial aid; (4) state and federal programs of financial aid; (5) sources of…
Pittman, James; Wilhelm, Kevin
Financial accounting methods fall short of fully accounting for the relative sustainability of college and university operations. Management of social, environmental, and economic performance will be aided by changes to and new developments in financial accounting practices to complement other indicators of sustainability.
... 18 Conservation of Power and Water Resources 2 2010-04-01 2010-04-01 false Financial assistance. 1317.430 Section 1317.430 Conservation of Power and Water Resources TENNESSEE VALLEY AUTHORITY... parental status. (b) Financial aid established by certain legal instruments. (1) A recipient may...
Demirguc-Kent, Asli; Detragiache, Enrica
The authors study the empirical relationship between banking crises and financial liberalization using a panel of data for 53 countries for 1980-95. They find that banking crises are more likely to occur in liberalized financial systems. But financial liberalization's impact on a fragile banking sector is weaker where the institutional environment is strong--especially where there is respect for the rule of law, a low level of corruption, and good contract enforcement. They examine evidence o...
Hastings, Justine S.; Madrian, Brigitte C.; Skimmyhorn, William L.
In this article, we review the literature on financial literacy, financial education, and consumer financial outcomes. We consider how financial literacy is measured in the current literature and examine how well the existing literature addresses whether financial education improves financial literacy or personal financial outcomes. We discuss the…
Khem Raj Bhetuwal Ph. D.
An efficient financial system can effectively mobilize and allocate resources leading to robust economic growth. Financial liberalization improves the functioning of financial system by increasing the availability of funds and allowing risk diversification and increased investment. The indices of financial liberalization and financial development, generated by the principal component analysis, depict a gradual process of financial liberalization and a continuous financial sector development. ...
Hostetter, Christina J.
This article explores the uses, practicality, and problems involved in creating online finding aids by state-funded university archivists across the nation. It examines various aspects of online finding aids such as financial considerations, its importance as a research tool, timelines, demographics, and use. The more technical side is also…
... (CONTINUED) AIRPORTS AIRPORT AID PROGRAM Accounting and Reporting Requirements § 152.303 Financial management system. Each sponsor or planning agency shall establish and maintain a financial management system that... 14 Aeronautics and Space 3 2010-01-01 2010-01-01 false Financial management system....
... TRANSPORTATION (CONTINUED) AIRPORTS AIRPORT AID PROGRAM Accounting and Reporting Requirements § 152.325 Financial... 14 Aeronautics and Space 3 2010-01-01 2010-01-01 false Financial status report: Airport planning... agency conducting a project for airport system planning shall submit a financial status report on a...
Chabotar, Kent John
Summarizes major problems in school financial management and suggests practical improvements to aid external reporting of financial data and internal management. Sections of the article describe these categories of problems: (1) budget presentation; (2) management control; (3) cost accounting; and (4) financial reporting. (PS)
Simon Gray and Joanna Place
Derivatives, ranging from relatively simple forward contracts to complicated options products, are an increasingly important feature of financial markets worldwide. They are already being used in many emerging markets, and as the financial sector becomes deeper and more stable, their use is certain to grow. This Handbook provides a basic guide to the different types of derivatives traded, including the pricing and valuation of the products, and accounting and statistical treatment. Also, it a...
Forensic accounting is the use of accounting expertise to assist a court. "Forensic" denotes anything to do with a court of law and forensic accounting is increasingly recognised as a separate and important discipline at the intersection of law and accountancy. A relatively new role within accounting, forensic accountants build on a unique blend of accounting and investigative skills.They are,infact, financial detectives, dissecting financial statements, looking behind rather than merely at t...
Financial crisis started from America and soon spread all over the world. How did this happen? What government has done to rescue the economy and what should we do to help? Is financial crisis inevitable? These questions have bothered me for a long time. However, if we use a macroeconomist eye to view the world, all the questions seemed clear and crystal.
US Ecology is a full service waste management company. The company operates two of the nation's three existing low-level radioactive waste (LLRW) disposal facilities and has prepared and submitted license applications for two new LLRW disposal facilities in California and Nebraska. The issue of financial assurances is an important aspect of site development and operation. Proper financial assurances help to insure that uninterrupted operation, closure and monitoring of a facility will be maintained throughout the project's life. Unfortunately, this aspect of licensing is not like others where you can gauge acceptance by examining approved computer codes, site performance standards or applying specific technical formulas. There is not a standard financial assurance plan. Each site should develop its requirements based upon the conditions of the site, type of design, existing state or federal controls, and realistic assessments of future financial needs. Financial assurances at U.S. Ecology's existing sites in Richland, Washington, and Beatty, Nevada, have been in place for several years and are accomplished in a variety of ways by the use of corporate guarantees, corporate capital funds, third party liability insurance, and post closure/long-term care funds. In addressing financial assurances, one can divide the issue into three areas: Site development/operations, third party damages, and long-term care/cleanup
... prefer the open-fit hearing aid because their perception of their voice does not sound “plugged up.” ... My voice sounds too loud. The “plugged-up” sensation that causes a hearing aid user’s voice to ...
Richey, Lisa Ann; Ponte, Stefano
A critical account of the rise of celebrity-driven “compassionate consumption” Cofounded by the rock star Bono in 2006, Product RED exemplifies a new trend in celebrity-driven international aid and development, one explicitly linked to commerce, not philanthropy. Brand Aid offers a deeply informed...
Linnerooth-Bayer, Joanne; Mechler, Reinhard; Pflug, Georg
With new modeling techniques for estimating and pricing the risks of natural disasters, the donor community is now in a position to help the poor cope with the economic repercussions of disasters by assisting before they happen. Such assistance is possible with the advent of novel insurance instruments for transferring catastrophe risks to the global financial markets. Donor-supported risk-transfer programs not only would leverage limited disaster-aid budgets but also would free recipient countries from depending on the vagaries of postdisaster assistance. Both donors and recipients stand to gain, especially because the instruments can be closely coupled with preventive measures. PMID:16099976
Justine S. Hastings; Madrian, Brigitte C.; William L. Skimmyhorn
In this article we review the literature on financial literacy, financial education, and consumer financial outcomes. We consider how financial literacy is measured in the current literature, and examine how well the existing literature addresses whether financial education improves financial literacy or personal financial outcomes. We discuss the extent to which a competitive market provides incentives for firms to educate consumers or offer products that facilitate informed choice. We revie...
... and Food and Drug Administration Staff FDA permits marketing of new laser-based hearing aid with potential ... feeds Follow FDA on Twitter Follow FDA on Facebook View FDA videos on YouTube View FDA photos ...
B. S. Rupanawar; Rege, Kiran M
The nationalization of banks in 1969 and subsequent developments led to expansion of the geographical and functional reach by the banks. Public policy aimed at 'social 'and 'development banking 'by meeting rural credit needs and reducing the role of credit of informal sector. Despite the vast expansion, a large number of groups remain excluded from the opportunities and services provided by the financial sector. Such excluded groups include small and marginal farmers, women and unorganized se...
Scott Brave; R. Andrew Butters
We approach the task of monitoring financial stability within a framework that balances the costs and benefits of identifying future crisis-like conditions based on past U.S. financial crises. Our results indicate that the National Financial Conditions Index (NFCI) produced by the Federal Reserve Bank of Chicago is a highly predictive and robust indicator of financial stress at leading horizons of up to one year, with measures of leverage playing a crucial role in signaling financial imbalanc...
... Devices Consumer Products Hearing Aids Types of Hearing Aids Share Tweet Linkedin Pin it More sharing options ... some features for hearing aids? What are hearing aids? Hearing aids are sound-amplifying devices designed to ...
This article deals with a relatively new concept of the economics, i.e. financial stability. The essence of the financial stability concept, academic and practical definitions of financial stability, relationships between financial stability and other notions of the theory of finance (financial crisis, financial fragility, financial soundness, etc.) are considered. The author argues convincingly that there is a need for promoting scientific debate about financial stability problems in the Rep...
This article focuses on analyzing of a consolidated financial statements of a hypothetically SME. The interpretation of the financial position and performances is based on the more than 40 financial key ratios computed by using financial data from consolidated income statement, consolidated financial position and cash flow. However additional data from notes to financial statements are provided.
Full Text Available This article focuses on analyzing of a consolidated financial statements of a hypothetically SME. The interpretation of the financial position and performances is based on the more than 40 financial key ratios computed by using financial data from consolidated income statement, consolidated financial position and cash flow. However additional data from notes to financial statements are provided.
Full Text Available The aim of the author of this paper isto show the relationship between the level of financialresponsibility of individuals and of companymanagers and the stability of financial markets, assetmarkets and the stability of the financial system as awhole. In Bosnia and Herzegovina (B&H after the1992-1995 conflict, there was a large influx offunding into the local economy both from the fields ofFDI (Foreign Direct Investment and bilateral andunilateral aid. Many people in BH were keen toaccess loans in a seemingly cash-rich economy, butwere ill-prepared in the fields of financial borrowingand handling debt properly. Subsequently theyexperienced difficulties in servicing obligations andthe loan portfolio of banks has deteriorated. Thus theonset of the financial crisis has brought somethingpositive. Borrowing in B&H dropped, but problemsservicing existing loans rose. The situation has notyet become problematic but banking sector shortfallstend to manifest themselves between 12-18 monthsafter the event. The author believes that a moreserious approach to financial responsibility at microlevelsis necessary for the national economic good.
Implementation of the concept of sustainable development requires the use of a variety of instruments. These instruments may be legal or financial. One of the fi-nancial instruments to support sustainable development might be state aid. Howev-er, not all aid is beneficial from the point of view of sustainable development. Therefore, an important task is to identify the types of aid that have a positive im-pact on sustainable development, and on the other hand to show aid which is harmful from...
Richey, Lisa Ann; Ponte, Stefano
activists, scholars and venture capitalists, discusses the pros and cons of changing the world by ‘voting with your dollars’. Lisa Ann Richey and Stefano Ponte (Professor at Roskilde University and Senior Researcher at DIIS respectively), authors of Brand Aid: Shopping Well to Save the World, highlight how...
Whitfield, Lindsay; Fraser, Alastair
This article presents a new analytical approach to the study of aid negotiations. Building on existing approaches but trying to overcome their limitations, it argues that factors outside of individual negotiations (or the `game' in game-theoretic approaches) significantly affect the preferences of...
We examine the effect of financial openness on the development of financial systems in a panel of 35 emerging markets during the period of 1976 to 2003. A group of indicators including variables from banking sector, stock market, and national capital accounts are used as measures of financial openness and financial development. In addition, aggregate index measures are developed to incorporate information from different areas of the financial system. Our empirical results generally suggest th...
G. J. LÓPEZ
The work seeks to analyse Mexico's recent exchange-rate crisis in relation to the debate on financial modernisation and external financial fragility. The author reviews some key features of Mexico's 1988-1994 economic recovery before analysing some aspects of the country's evolution in the light of the financial modernisation debate. An explanation of the crisis in which Mexico's external financial fragility is emphasised is provided. Finally, the relationship between financial modernisation ...
Full Text Available Tactile aids, which translate sound waves into vibrations that can be felt by the skin, have been used for decades by people with severe/profound hearing loss to enhance speech/language development and improve speechreading.The development of tactile aids dates from the efforts of Goults and his co-workers in the 1920s; Although The power supply was too voluminous and it was difficult to carry specially by children, it was too huge and heavy to be carried outside the laboratories and its application was restricted to the experimental usage. Nowadays great advances have been performed in producing this instrument and its numerous models is available in markets around the world.
Marzieh Kalantarie Taft; Zare Zardeini Hosein; Seyyed Mohammad Tabatabaei Mehrizi
Increased variety of products and the instability of the global economy in twenty first century caused increasingcomplexity of financial decisions and also caused consumers faced with the challenge in economic and financialactivities. For this reason, in the last decade, the importance of financial management skills in personal and worklife has increased and researches in this area has been done. In this regard, this study tries to evaluate the relationbetween financial literacy, financial we...
The report is a joint International Monetary Fund IMF-World Bank Financial Sector Assessment Program (FSAP), which examined Gabon's macroeconomic and financial context, and identified its financial soundness, as well as vulnerabilities. The country's financial sector is overall, profitable and stable, though still relatively underdeveloped. Banks - which dominate the financial sector - fin...
Dutta, Nabamita; Roy, Sanjukta
Financial development is definitely a determinant of the extent of foreign direct investment (FDI) inflow into an economy. Yet, the contribution of financial development (FD) can be dependent on the political situation of the recipient nation. Higher political stability aids financial institutions to reap the benefits of FDI efficiently. Our paper empirically investigates the role of political risk in the association of FDI and FD. Using a panel of 97 countries, we show the relationship to be...
... Diversity Find People About NINDS Neurological Complications of AIDS Fact Sheet Feature Federal domestic HIV/AIDS information ... Where can I get more information? What is AIDS? AIDS (acquired immune deficiency syndrome) is a condition ...
SÜNTER, A.T.; PEKŞEN, Y.
AIDS was first defined in the United States in 1981. It spreads to nearly all the countries of the world with a great speed and can infect everbody without any differantiation. The infection results in death and there is no cure or vaccine for it, yet. To data given to World Health Organization until July-1994, it is estimated that there are about 1 million patients and about 22 millions HIV positive persons In the world. Sixty percent of HIV positive persons are men and 40% are women. The di...
Шпак, Валентин Аркадійович
Organization of financial accounting that is grounded on principles of financial reporting has been considered. The relation between accounting objects and accounts has been researched. Approaches towards solving problems of organization of financial accounting have been described.
Ismail, Abdul Ghafar; Taufiq, Umar
The objective of this paper is to create a gap between zakat on financial institutions and financial instruments held by the individuals. As zakat on financial institutions are already recognized by the financial and standard setting bodies but a new development especially for the underlying contract that warrant us to visit the subject with an intention to recognize zakat on financial instruments owned by individuals. The concept of real owner is discussed when a financial instrument is issu...
Thomas M. Hoenig
In recent years, revolutionary changes in financial markets, combined with incidents such as Barings and Daiwa, have revived concerns about the adequacy of financial regulation. Historically, financial regulatory policy has been driven by the view that to maintain the health of the financial system you must maintain the health of individual institutions.> In light of ongoing changes in financial markets, however, extending the traditional approach to financial market regulation may not work. ...
Ravikumar, R.; S.D. SIVAKUMAR; M. JAWAHARLAL; N. Venkatesa Palanichamy; D. Sureshkumar
Financial literacy is gaining importance in recent years as number new products have been continuously offered in the financial markets. Whatever the type of business such as corporates, small business and family run business the financial management is vital important. Financial literacy enables the efficient financial management ultimately results in increased profitability and reduces cost. The global researchers indicated that, India is least financially literate country. Keeping these th...
Richard M. Levich
The central theme of this paper is that financial innovation has become a major force effecting the United States and other developed economies. The common features of the process include product innovation, securitization, liberalization of domestic financial market practices, globalization of markets, and increased competition among financial institutions. The paper offers a review of the product and process changes that have occurred in international financial markets, an analysis of the f...
Full Text Available Financial resources of the village that are sourced from a country or a Regional Finance Financial based Law Number 6 Year 2014 of The Village is the mandate of the law that must be allocated to the village. The interconnectedness of the financial position of the village in the financial system of the country or Region concerned the Financial administrative and territorial relations, and there is no setting directly regarding the finances of the village as part of the financial system of the country or the financial area. In respect of the elements of the crime of corruption deeds against financial irregularities of the village there are still disagreements on the interpretation of the law in trapping the perpetrators of corruption on the village chief that implies not satisfy the principle of legality and legal certainty in the ruling of the matter of financial irregularities. In fact, many of the village chief or Councilor caught the criminal offence of corruption over the use of financial irregularities. This research analyzes How the financial position of the village in the financial system of the country or region, as well as whether the financial resources of the village is derived from the state budget or region budget managed in village budget belongs to the category of village finances and whether tort against the financial management of the village can be categorized as a criminal act corruption. How To Cite: Purnomo, H. (2015. Financial Village Standing in Indonesian Financial System. Rechtsidee, 2(2, 121-140. doi:http://dx.doi.org/10.21070/jihr.v2i2.81
From pricing regulations of the feed-in scheme (EEG) through to financial security under the Atomic Energy Act (AtG): the German legal system for the energy sector in the context of EC legislation on state aid
This contribution is a comprehensive analysis of EC law on state aid and resulting possible impacts on the German legal system for the energy sector. The analysis reveals that, depending on the legal interpretation of Art. 87 of the EC Treaty, further non-compliance issues such as that currently under debate in connection with German legislation supporting market penetration of electricity from renewable energy sources, may arise in the future. Further examples referred to are the German system of liability reserves for the decommissioning of nuclear power plants, and the system of third party liability for nuclear power plant operators. The author addresses various problem areas and uses characteristic examples in explaining conceivable matters of conflict. (orig./CB)
This article reviewed the history of Zhong He Shanxi Uranium Enrichment Company, summarizing an efficient and systematical financial management method during both construction period and operational period of the company. It related to fundamental financial management structure building, integrated budgeting, fund management, cost management, asset management, tax planning and HR management. of financial staffs. (author)
Vermeulen, Robert; Hoeberichts, Marco; Vasicek, Borek; Zigraiova, Diana; Smidkova, Katerina; de Haan, Jakob
This paper develops a Financial Stress Index (FSI) for 28 OECD countries and examines its relationship to crises using a novel database for financial crises. A stress index measures the current state of stress in the financial system and summarizes it in a single statistic. Our results suggest that
Pension Benefit Guaranty Corporation — This table contains key Financial data highlighted from PBGC's financial statements for the periods ending September 30, 1992 through September 30, 2009. PBGC's...
Full Text Available We study financial literacy in France using the PATER survey and following the Lusardi and Mitchell (2011c approach. We find that some subpopulations are less financially literate than others: women, young and old people as well as less-educated people are more likely to face difficulties when dealing with fundamental financial concepts such as risk diversification and inflation and interest compounding. We also find some differences in financial knowledge depending on the political opinion of the respondents. Finally we show that these differences in financial knowledge are correlated with differences in the propensity to plan: people who score higher on the financial literacy questions are more likely to be engaged in the preparation of a clearly defined financial plan.
This Financial Sector Assessment summarizes the findings of the joint World Bank-International Monetary Fund (IMF) financial sector assessment program (FSAP). The overall assessment of development priorities, and financial stability suggest that even though the current depth, and efficiency of Tanzania's financial system fall well short of what is needed to help support economic growth, th...
Catalin-Florinel Stanescu; Laurentiu Mircea Simion
Concerns about the financial risk is increasing. In this climate, companies of all types and sizes want a robust framework for financial risk management to meet compliance requirements, contribute to better decision making and increase performance. Financial risk management professionals working with financial institutions and other corporate clients to achieve these objectives.
World Bank; International Monetary Fund
Diversifying Poland's financial system to meet new demands while preserving its resilience and stability is the key task ahead for financial policymakers. Over the past decade, the financial system has grown rapidly and risks have been well managed along the way. To maintain this track record and supply the financial services needed to support the economy's growth, it will be important to ...
We consider dynamics of financial markets as dynamics of expectations and discuss such a dynamics from the point of view of phenomenological thermodynamics. We describe a financial Carnot cycle and the financial analogue of a heat machine. We see, that while in physics a perpetuum mobile is absolutely impossible, in economics such mobile may exist under some conditions. Our thermodynamical model for the financial market induces a rather unusual interpretation of the role of financial crises. ...
The promotion of an inclusive financial system is considered a policy priority in many countries. While the importance of financial inclusion is widely recognized, the literature lacks a comprehensive measure that can be used to measure the extent of financial inclusion across economies. This paper attempts to fill this gap by proposing an index of financial inclusion (IFI). The IFI is a multi-dimensional index that captures information on various dimensions of financial inclusion in one sing...
Hjertholm, Peter; Laursen, Jytte; White, Howard
foreign aid, macroeconomics of aid, gap models, aid fungibility, fiscal response models, foreign debt,......foreign aid, macroeconomics of aid, gap models, aid fungibility, fiscal response models, foreign debt,...
The present study , in the perspective of implementation of educational policies , is a survey ad-ministered among 1,384 students with financial difficulties from 14 colleges and universities in Zhejiang in an attempt to learn about the overall situation of the students ’ satisfaction with the implementation of financial-aid policies and its influencing factors .Findings show that:1) In general the students maintain a high degree of satisfaction with the policy implementation in Zhejiang;2 ) Female students show a higher degree of overall satisfaction than male students;3) Freshmen and senior students show the highest degree of satisfaction;4) Compared with ordinary impoverished students , those with serious financial problems show significantly higher degrees of satisfaction in overall evaluation , policy publicity , implementation efficiency and implementation process;5) Students from west China show the highest degrees of satisfaction , and 6) Students’ satisfaction is positively correlated to their academic performance .%基于教育政策执行的视角，运用调查问卷对浙江省14所高校1384名贫困生的资助政策执行满意度状况及影响因素进行调查。结果表明：贫困生对浙江省资助政策的执行状况总体满意度较高；女生对资助政策的总体满意度高于男生；大一和大四的学生对资助政策的执行最为满意；特困生在总体满意度、政策宣传、执行效率和执行过程四个维度上显著高于一般困难生；西部地区的贫困生对于资助政策执行最满意。
Lee, John B.; Clery, Suzanne B.
This report examines differences between undergraduates who attended postsecondary institutions in states that provide different levels of student financial aid. The report uses data from the 1995-96 National Postsecondary Student Aid Study. The study evaluated how students combine aid types and sources, price of attendance, and personal…
George Horia Ionescu; Ruxandra Dana Vilag
In the last 25 years, financial systems around the world have gone undergone unprecedented changes. Investors can borrow large amounts of money at cheaper rates than ever before, invest in a very large variety of sophisticated financial instruments, seeking the profits and sharing the risk with strangers from across the globe, at speed of light. Because of the globalization of financial markets throughout the world, entities in any country seeking to raise funds need not be limited to their d...
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Full Text Available This paper tests the relative strength of three objective measures of financial health (using the solvency, liquidity, and investment asset ratio in predicting a household’s subjective feeling of current financial satisfaction. Using a sample of 6,923 respondents in the 2008 Health and Retirement Study this paper presents evidence of two main findings: 1 the solvency ratio is most strongly associated with financial satisfaction levels based on a cross-sectional design and 2 changes in the investment asset ratio are most strongly associated with changes in financial satisfaction over time.
Klein, Michael; Harford, Tim
Private financial flows such as foreign direct investment seem toencourage economic growth and relieve poverty in part because theycreate excellent incentives for transferring know-how and in partbecause they are subject to a stern market test that ensures they areallocated and monitored carefully. For aid flows, not automaticallysubject to these disciplines, it is difficult to be as effec...
Practical C++ Financial Programming is a hands-on book for programmers wanting to apply C++ to programming problems in the financial industry. The book explains those aspects of the language that are more frequently used in writing financial software, including the STL, templates, and various numerical libraries. The book also describes many of the important problems in financial engineering that are part of the day-to-day work of financial programmers in large investment banks and hedge funds. The author has extensive experience in the New York City financial industry that is now distilled in
Klapper, Leora; Lusardi, Annamaria; Panos, Georgios A.
The ability of consumers to make informed financial decisions improves their chances of having sound personal finance. This paper uses a panel dataset from Russia, where consumer loans grew at an astounding rate -- from about US$10 billion in 2003 to over US$170 billion in 2008 -- to examine the importance of financial literacy and its relationship with behavior. The survey asked questions...
Full Text Available Financial policy outlines the main directions of action of the financial activity. In determining financial policy, managers must take into consideration interests of all stakeholders, given the political, social, financial and monetary context of the firm, but also the technical and technological one. In addition, the educational, environmental and scientific context must be considered when establishing the financial policy, as it also influences the latter. Therefore, within financial policy, managers must identify and adopt those financial decisions that can positively influence the future development of the firm. Present studies intended as a tool for those interested in the future of the firm, e.g. employers, employees, banks, insurance companies, service providers, etc. It details directions of actions used by managers within financial policy in order to increase firm profits.
Full Text Available This study illustrates the process of program evaluation using a logic model. Guided by the Transtheoretical Model of Change and a logic model, this study evaluated the effectiveness of a Retirement and Savings Seminar by measuring participant (n = 54 satisfaction, financial knowledge, financial confidence, and financial behavior change compared to a similar group of 134 non-participants. Participants were very satisfied with the seminar. Their financial knowledge and confidence scores significantly increased from pretest to posttest. Financial knowledge and confidence scores improved more than the comparison group while controlling for group differences in age, income, and pretest scores. Two months later, participants were more likely than the comparison group to have adopted positive financial behaviors as measured by the Financial Preparedness for Retirement Scale. Financial educators can use this study as a model for planning, conducting, and evaluating their programs.
U.S. Department of Health & Human Services — This section contains the annual CMS financial statements as required under the Chief Financial Officers (CFO) Act of 1990 (P.L. 101-576). The CFO Act marked a...
<正>The prolonged financial crisis brought about profound changes in international political and economic patterns. With a focus on China’s place in the post-crisis world situation, the Halter Financial Summit,
This article focuses on computing techniques starting from trial balance data regarding financial key ratios. There are presented activity, liquidity, solvency and profitability financial key ratios. It is presented a computing methodology in three steps based on a trial balance.
Guillaume Plantin; Haresh Sapra; Hyun Song Shin
Market prices give timely signals that can aid decision making. However, in the presence of distorted incentives and illiquid markets, there are other less benign effects that inject artificial volatility to prices that distorts real decisions. In a world of marking-to-market, asset price changes show up immediately on the balance sheets of financial intermediaries and elicit responses from them. Banks and other intermediaries have always responded to changes in economic environment, but mark...
Plantin, Guillaume; Sapra, Haresh; Shin, Hyun Song
Market prices give timely signals that can aid decision making. However, in the presence of distorted incentives and illiquid markets, there are other less benign effects that inject artificial volatility to prices that distorts real decisions. In a world of marking-to-market, asset price changes show up immediately on the balance sheets of financial intermediaries and elicit responses from them. Banks and other intermediaries have always responded to changes in economic environment, but ma...
Tianjin's Binhai New Area lures the financial industry with preferential treatment If you were thinking about doing financial business in Shanghai, Hong Kong or Beijing, think again. Early in June this year, the State Council approved the establishment of a financial experimental zone for Tianjin's Binhai New Area, which will get preferential treatment that other cities can hardly expect to attain. While for a time the area's administration had to actively court financial institu-
Financial inclusion is the process of ensuring access to appropriate financial products and servicesneeded by vulnerable group such as weaker sections and low Income groups at an affordable cost in a fair andtransparent manner by mainstream institutional player. Financial inclusion has become one of the most criticalaspects in the context of inclusive growth and development. The importance of an inclusive financial system iswidely recognized in policy circles and has because a policy priority...
The aim of this paper is to empirically study the concept of financial stability in Romania, from both a monetary policy perspective and a financial perspective. In this paper, I also compute an aggregate index of financial stability, for the period 2008-2013, explaining the correlations between several extremely important macroeconomic and sectorial variables and financial stability. The article also debates the aspect of policy instruments that aim to promote, highlighting the undertaken me...
Foreign aid is given for many purposes and different intentions, yet most studies treat aid flows as a unitary concept. This paper uses factor analysis to separate aid flows into different types. The main types can be interpreted as aid for economic purposes, social purposes, and reconstruction; a...... residual category captures remaining purposes. Estimating the growth effects of separable types of aid suggests that most aid has no effects while reconstruction aid has direct positive effects. Although this type only applies in special circumstances, it has become more prevalent in more recent years....
This report is a review of the Lesotho's financial system covering: i) the macro-financial environment; ii) safety and soundness of the banking system; iii) non-bank financial institutions; and iv) microfinance and finance for small and medium enterprises. The report was based on data and other information collected during the March 2003 mission. The report is presented in four chapters: c...
Finke, Michael S.; Huston, Sandra J.; Winchester, Danielle D.
Using a cost-benefit framework for financial planning services and proprietary data collected in the summer of 2008, the client characteristics that are associated with the likelihood of paying for professional financial advice, as well as the type of financial services purchased, are identified. Results indicate that respondents who pay for…
Harrison, Tina; Marchant, Caroline; Ho, Mary
The purpose of the paper is 1) to develop a discussion regarding the processes via which children develop and become financially literate: the process of financial socialization; 2) to propose a conceptual framework for understanding financial socialization among children and young adults
A joint International Monetary Fund (IMF)-World Bank Financial Sector Assessment Program (FSAP) mission visited Lithuania during November 4-15, 2001 to undertake an assessment of the financial sector. The principal objective of the mission was to assist the authorities in identifying potential vulnerabilities in the Lithuanian financial system and obstacles to its future development. Finan...
Over the past decade, Algeria has courageously attempted to modernize its financial system, despite social strife, and unique challenges posed by the large hydrocarbon sector. However, lending by state-owned banks, mostly to public entities, still dominates financial intermediation, financial markets remain in their infancy, and, implementation of regulatory reforms is lagging. And, becaus...
Nasr, Sahar; Petersen, Arne; Vossen, Jan Van der; Hashad, Nabil; Britton, Richard; Kulaksiz, Sibel; Huitfeld, Erik
The link between sound and well-developed financial systems and economic growth is fundamental. Efficient and prudent allocation of resources by the financial system is critical for increasing productivity, boosting economic development, enhancing equality of opportunity, and reducing poverty. The financial sector in Iraq remains underdeveloped and underperforming. The banking system is by...
of the article which is to explore further the nature of ‘irrationality’ as manifest in financial crises. When the contours of both these aspects of financial calculation have been elaborated, the article moves on to consider how they might shape regulatory responses to the seeming inevitability of financial...
Bush, Sarah B.; McGatha, Maggie B.; Bay-Williams, Jennifer M.
The current state of the economy elevates the need to build awareness of financial markets and personal finance among the nation's young people through implementing a financial literacy curriculum in schools. A limited amount of time spent on financial literacy can have a positive effect on students' budgeting skills. This knowledge will only add…
Financial management has developed as a separate area of study, being very important for both the small or large companies. Financial management has a role in investment decisions, financing decisions and controlling resources. The responsibility of the financial manager is to monitor actual performance of the company
Andrews, Matthew; Wilhelm, Vera
Researchers are giving more attention to aid predictability. In part, this is because of increases in the number of aid agencies and aid dollars and the growing complexity of the aid community. A growing body of research is examining key questions: Is aid unpredictable? What causes unpredictability? What can be done about it? This note draws from a selection of recent literature to bring s...
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Shuo BAI; Shouyang WANG; Lean YU; Aoying ZHOU
@@ The rapid growth in financial data volume has made financial information processing more and more difficult due to the increase in complexity, which has forced businesses and academics alike to turn to sophisticated information processing technologies for better solutions. A typical feature is that high-performance computers and advanced computational techniques play ever-increasingly important roles for business and industries to have competitive advantages. Accordingly, financial information processing has emerged as a new cross-disciplinary field integrating computer science, mathematics, financial economics, intelligent techniques, and computer simulations to make different decisions based on processed financial information.
Caruntu Genu Alexandru
Full Text Available In economic and financial activity, risk is an inherent financial decisions, encountered in daily agenda of managers of companies. Unexpected changes in the price of a product development not only affect the financial results of a company, but can cause even bankruptcy. In fact, the nature of financial decisions involve uncertainty. Financial decisions are made based on cash flows under future contracts, which are par excellence incerte.Activitatea an enterprise that holds any weight in the industry is subject to risks, since it can not predict with certainty different components of its outcome (cost, quantity, price and operating cycle (purchase, processing, sales.
@@ As the Wall Street chaos of 2008 swept the globe,China-with little exposure to subprime mortgages-was one of the only calm ports in the growing financial storm.Ifone lesson can be learned from the crisis,it is this: maintain a constant state of financial vigilance against risks even in boom times.China now faces the task of ensuring its financial health as it further opens to the world amid a global financial landscape reshaped by deep recessions.Economists and finance professors discussed these challenges at the Asia-Pacific Economic and Financial Forum recently held in Beijing.Edited excerpts follow:
As the Wall Street chaos of 2008 swept the globe,China-with little exposure to subprime mortgages-was one of the only calm ports in the growing financial storm.If one lesson can be learned from the crisis,it is this: maintain a constant state of financial vigilance against risks even in boom times.China now faces the task of ensuring its financial health as it further opens to the world amid a global financial landscape reshaped by deep recessions.Economists and finance professors discussed these challenges at the Asia-Pacific Economic and Financial Forum recently held in Beijing.Edited excerpts follow
Rodica Oana Ioniţă
This paper is an empirical study which analyzes economic and financial instability periods. I composed two early warning indicators: one for a period of economic instability and other for a period of financial instability. The index of economic instability periods is called EWI (Economic Warning Index) and it is defined with the aid of an intermediary indicator CII – defined in terms of industrial production growth, external trade growth and unemployment growth – and of a basket of significan...
General Services Administration — For a visual depiction of GSA's Balance Sheet and Statement of Net Cost, please use the interactive charts to view the financial results for fiscal years 2007-2013.
@@ Beijing's new financial dream On May 5,the Beijing Municipal Government released a notice regarding its plans to spur the financial industry,vowing to put forth a strong effort to become the national financial decision-making center,financial management center and financial information and services center,and formally announcing its ambitious aspiration to become a financial hub with international influence.
Lobanova, E. N.; Zmitrovich, A. I.; Voshevoz, A. A.; Krivko-Krasko, A. V.
In this article we consider concepts and components of the Financial Decision Making System that is being developed in the Institute of Business and Management Technology, BSU. Such system can be successfully used either for training experts in financial analytics and financial management or for financial managers and financial directors in an enterprise for the effective financial decision making.
Torben G. Andersen; Tim Bollerslev; Peter F. Christoffersen; Francis X. Diebold
Current practice largely follows restrictive approaches to market risk measurement, such as historical simulation or RiskMetrics. In contrast, we propose flexible methods that exploit recent developments in financial econometrics and are likely to produce more accurate risk assessments, treating both portfolio-level and asset-level analysis. Asset-level analysis is particularly challenging because the demands of real-world risk management in financial institutions - in particular, real-time r...
This thesis deals with the closing of books and the final accounts, or more precisely final accounts in a broader sense, of the business entity in the Czech Republic. The theoretical part focuses on the preparatory work before closing the books that lead to the preparation of financial statements, it means the balance sheet, income statement, notes to the financial statements, alternatively cash flow statement and statement of changes in the equity. Preparatory works mean such as inventory...
Hansen, Henrik; Tarp, Finn
This paper examines the relationship between foreign aid and growth in real GDP per capita as it emerges from simple augmentations of popular cross country growth specifications. It is shown that aid in all likelihood increases the growth rate, and this result is not conditional on ‘good’ policy....... There are, however, decreasing returns to aid, and the estimated effectiveness of aid is highly sensitive to the choice of estimator and the set of control variables. When investment and human capital are controlled for, no positive effect of aid is found. Yet, aid continues to impact on growth via...
Hsu, Sara; Li, Jianjun
In this paper, we examine whether there is an “ideal” level of financial development, somewhere between financial capital overaccumulation and financial capital underaccumulation. We construct indexes of non-bank or speculative financial development, financial (bank) deepening, and production. We find that financial deepening does support what we dub the “speculative spread,” that is, the difference between non-bank or speculative finance and real production. As financial deepening grows,...
In this paper we propose to make a presentation of the main theories on financial intermediation and financial intermediaries. Modern theory of financial intermediation examine the main functions of financial intermediation, how the financial intermediation affect the economy as a whole and the effects of government policies on financial intermediaries. We will focus on issues of function of financial intermediaries, such as reduction of transaction costs, liquidity provision, information pro...
Grohmann, Antonia; Menkhoff, Lukas
Why do some people make better financial decisions than others do? The level of financial literacy plays an important role: Quality schooling that also deals with financial issues likewise leads to better financial decisions. However, many studies neglect how parenting also influences financial behavior. This report shows that parents also have an indirect effect on the financial literacy of their adult children; in general, specific financial training actually has less of an effect on financ...
Every two years, according to Article 6 of the Regulations of the Mutual Aid Fund, the Committee of the Mutual Aid Fund must renew one third of its membership. This year three members are outgoing. Of these three, two will stand again and one will not. Candidates should be ready to give approximately two hours a month during working time to the Fund whose aim is to assist colleagues in financial difficulties. We invite applications from CERN Staff who wish to stand for election as a member of the CERN Mutual Aid Fund to send in their application before 17 June 2016, by email to the Fund’s President, Connie Potter (firstname.lastname@example.org).
Moon, Rexford G.
In order of their importance in 1961, the administrative outlets for funds for undergraduates were: colleges and universities (70 percent); the federal government (17 percent), state governments (9 percent), and others. In order of importance as sources of funds for graduate support were: the federal government ($200 million), colleges and…
... Share this: Main Content Area How HIV Causes AIDS HIV destroys CD4 positive (CD4+) T cells, which ... and disease, ultimately resulting in the development of AIDS. Most people who are infected with HIV can ...
... Providers Prevention Resources Newsletter Get Tested Find an HIV testing site near you. Enter ZIP code or ... AIDS Get Email Updates on AAA Anonymous Feedback HIV/AIDS Media Infographics Syndicated Content Podcasts Slide Sets ...
Dudley, N. J.
This article provides only a flavour of the type and range of aids available to the visually impaired person. Many other aids for leisure, learning, and daily living are illustrated in the RNIB equipment and games catalogue.
... 2014 Select a Language: Fact Sheet 158 AIDS Myths and Misunderstandings WHY ARE THERE SO MANY AIDS ... sweat, saliva or urine of an infected person. Myth: A pregnant woman with HIV infection always infects ...
... Smoothie Pregnant? Your Baby's Growth First Aid: The Flu KidsHealth > For Parents > First Aid: The Flu Print ... tiredness What to Do If Your Child Has Flu Symptoms: Call your doctor. Encourage rest. Keep your ...
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This data set contains counts of AIDS (Acquired Immune Deficiency Syndrome) cases reported to state and local health departments, by demographics; case-definition; HIV exposure group (risk factors for AIDS); Half-year of diagnosis, report, and death.
... medlineplus.gov/ency/article/000028.htm Head injury - first aid To use the sharing features on this page, ... a concussion can range from mild to severe. First Aid Learning to recognize a serious head injury and ...
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Pelissero, John P.; Morgan, David R.
Explores alternative means of studying the responsiveness of states to the pressing financial needs of cities and schools. Suggests ways to better understand intergovernmental aid allocations that are population-driven. (BSR)
This thesis analyses fiscal effects of aid, first of health aid on health spending for a sample of developing countries and then broadly for Ethiopia and Tanzania. Particular attention is paid to data quality and the severe difficulties in achieving a reliable disaggregation of aid into its on-budget and off-budget components. The first essay assesses the sensitivity of estimated health aid fungibility to how the missing data (often considerable) are treated and explores a novel (at least in...
textabstractINVESTIGATING IDEAS, IDEOLOGIES AND PRACTICES This paper presents some methods for trying to make sense of international aid and of its study.1 Some of the methods may be deemed ethnographic; the others are important partners to them, but rather different. In the course of discussing questions of aid policy and practice—such as: Should international development aid exist at all? How should aid be conducted? Should humanitarian relief be provided in conflict situations when it can ...
Foreign aid looms large in the public discourse; and international development assistance remains squarely on most policy agendas concerned with growth, poverty and inequality in Africa and elsewhere in the developing world. The present review takes a retrospective look at how foreign aid has evolved since World War II in response to a dramatically changing global political and economic context. I review the aid process and associated trends in the volume and distribution of aid and categoriz...
This paper explores the causes of the social security financial crises. We indicate that the financial crisis might be endogenous to the social security system. The main idea is that the PAYG social security system might affect fertility and human capital's decisions and therefore, may negatively impact the aggregated growth rate of the economy. These effects lead to an endogenous erosion of the financial basis of the PAYG social security program so that, as a consequence, the PAYG system is ...
This Master's thesis focuses on family financial planning and emphasizes its importance in our lives. It's divided into several chapters that are logically linked to each other and form a complex whole. The main part consists of an overview of basic financial products, which everyone should have at least basic awareness of. Description of financial products is mainly focused on its functioning, specifics, advantages and disadvantages. In the next chapter is shown a few examples of how to crea...
Financial instability can have large adverse effects on an economy. One major cause of instability is asset price bubbles. This paper starts by considering how such bubbles can arise due to the expansion of money and credit. The ways in which subsequent financial instability occurs are then discussed. Banking crises can arise due to panics or as a result of the business cycle. Contagion and financial fragility can cause small disturbances to have large effects. Finally, policy issues are touc...
Ever since the enactment of the Cooperative and Regional Rural Banks Acts and nationalisation of scheduled commercial banks, financial inclusion measures in India have led to physical expansion in the country. Unfortunately, the expansion has not brought about the necessary change in the backward and rural areas as financial services are yet to reach a vast majority of the population. The financial exclusion is characterised by limited service providers, limited goals and limited lending, bes...
Olga A. Norkina; Sergey E. Pekarski
Modern financial repression in advanced economies does not rely on increasing seigniorage revenue, but mostly rests upon regulatory measures to enlarge the demand for public debt that delivers extremely low or negative real interest rate. In this paper we propose the extension of the overlapping generations model to question the optimality of financial repression in the form of non-market placement of the public debt in the captive pension fund. We show that financial repression and capital i...
Bombay Stock Exchange and National Stock Exchange are leading in providing financial trainings and certification in India. Recently Securities and Exchange Board of India has set up its own subsidiary company, National Institute of Securities Market (NISM) to look up into this area. NISM has set up full fledge Financial Certification and Training Modules. The current study is expected to throw the light in the area of current trend and innovations in Financial Trainings and certifications.
International Finance Corporation; Global Partnership for Financial Inclusion
The group of 20 (G-20) recognizes data and measurement as an essential foundation for advancing financial inclusion at a global level. The data and measurement sub-group, in its first year, was tasked to identify the existing financial inclusion data landscape, to assess the data gaps, to develop key performance indicators, and to lay out the foundations for the framing of financial inclus...
This thesis consists of an introductory chapter and four essays on the financial contracting theory. In the first essay, we argue that many adverse selection models of the standard one-period loan contracts are not robust to changes in the market structure. We argue that debt is not an optimal contract in these models, if there is only one (monopoly) financier instead of a large number of competitive financiers. In the second essay, we examine the welfare effects of allowing banks...
Grohmann, Antonia; Kouwenberg, Roy; Menkhoff, Lukas
Our study aims to uncover the roots of financial literacy. Better financial literacy predicts more informed savings and borrowing decisions in our sample, covering the urban middle-class in an emerging economy. We then test education at school, family background, parental teaching, and childhood experiences with money as potential determinants of financial literacy. In addition to risk tolerance and having basic numeracy skills, we find that family variables matter most, in particular better ...
InterContinental Financial Street Beijing opened its doors on May 1st, 2005, just days before the world's business leaders flooded into town for the Fortune Global Forum.The first international luxury hotel in the Chinese capital's new and rapidly growing Financial Street business center, the InterContinental Financial Street Beijing is the flagship property of FnterContinental Hotels and Resorts on the Chinese mainland, and as such a pioneer in Beijing's future,
Ce document contient les dispositions essentielles applicables au financement de l'Organisation. Ce sont: (a) Les dispositions pertinentes de la Convention pour l'établissement d'une Organisation européenne pour la Recherche nucléaire du 1er juillet 1953, telle qu'elle a été modifiée le 17 janvier 1971, soit les articles V et VII; (b) Le Protocole financier, annexe à la Convention précitée; (c) Le Règlement financier, édition de 1999; (d) Les Règles financières intérieures, édition de 1999. This document contains the essential provisions applicable to the financing of the Organization. They are: (a) The relevant provisions of the Convention for the establishment of a European Organization for Nuclear Research dated 1 July 1953 as amended on 17 January 1971, namely Articles V and VII; (b) The Financial Protocol, annexed to the aforementioned Convention; (c) The Financial Rules of 1999; (d) The Internal Financial Regulations of 1999.
The article presents original research findings on informal financial assistance for hematological patients; that is, the gifts from family, friends, and communities that help patients cope with the financial hardship associated with cancer. The qualitative study involved interviews with 45 hematology patients that were audio-recorded, transcribed, coded, and then thematically analyzed. The findings examine the differing perspectives that individuals and families bring to the notion of informal financial aid, provide examples of individuals who require and receive informal financial assistance, and conclude with descriptions of those who require informal financial assistance but it is not available. The implications of the findings for oncology social work practice are explored. PMID:26671243
Toh, Voon Sia
This study examines the Malaysian financial institutions’ responses to the Macroenvironment during both the 1997-98 Asian financial crisis and the 2007-09 US subprime financial crisis.Based on the findings, results show that these three Malaysian financial institutions handled both the 1997-98 Asian financial crisis and the 2008-09 US subprime financial crisis well.Despite instability in the macro-environment, these financial institutions took the opportunities in strengthening their competit...
Financial statement can be regarded as a key document made on the balancing day (the date of closing of books) in case of annual financial statement, or on another day than balancing day, in which case it is called a special-purpose or interim financial statement. Financial statement is defined by Act No. 563/1991 Coll., on accounting, as an indivisible whole, consisting of a balance sheet, a profit and loss statement and a supplement. Selected accounting entities under § 20 par. 1 further...
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Shigeru Otsubo; Masahiko Tsutsumi
The burst of the Japanese financial bubble in the early 1990s has increased the bad debts of Japan's financial institutions. Japan accounts for about 20 percent of foreign aid to developing countries and for 10 percent of their exports, so Japan's economic health is important. The authors analyze the situation, assess the bad debt stock, and simulate the likely effects of crises in Japan's financial sector. They conclude that: a) a crisis that would shake up the world financial market is unli...
Based on a recent nationwide survey of rural administrators, this digest reports on the financial problems of rural school districts and some possible strategies for improvement. Rural administrators reported the following financial management problems: (1) cash flow problems due to late receipt of state aid or taxes; (2) expenditures that are…
Bell, Allison C.; Carnahan, Julie; L'Orange, Hans P.
This report, "State Tuition, Fees, and Financial Assistance Policies for Public Colleges and Universities: 2010-11", examines the philosophies, policies, and procedures that influence decision-making regarding public college and university tuition, student fees, and student financial aid programs. This report also provides information related to…
Office of Inspector General (ED), Washington, DC.
All institutions participating in the Federal Student Financial Assistance Programs must have an annual financial aid compliance audit performed by an independent auditor. This guide is effective for fiscal years ending December 31, 1999, and thereafter, for institutions preparing for their yearly audit. The purpose of the document is to assist…
Djankov, Simeon; Jose G. Montalvo; Reynal-Querol, Marta
The existing research on foreign aid offers inconclusive evidence on the factors that make aid effective. In this paper, we study the supply of aid money in 112 developing countries over the period 1960-1999 and find that the presence of multiple donors in a given country renders aid less effective. In particular, an aid-receiving country at the median of the donor fractionalization distribution will grow one percentage point faster than a country at the 75th percentile. This is in part becau...
... STATE WATER MANAGEMENT PLANNING PROGRAM § 740.7 Administration of financial assistance. (a) Grants under...-102, Revised, (34 CFR part 256), entitled “Uniform Administrative Requirements for Grants-in-Aid to State and Local Governments;” (2) Federal Management Circular (FMC) 74-4 (34 CFR part 255),...
Full Text Available The main point of this paper is that foreign aid fails because the structure of its incentives resembles that of central planning. Aid is not only ineffective, it is arguably counterproductive. Contrary to business firms that are paid by those they are supposed to serve (customers, aid agencies are paid by tax payers of developed countries and not by those they serve. This inverse structure of incentives breaks the stream of pressure that exists on the commercial market. It also creates larger loopholes in the principle-agent relationship on each point along the chain of aid delivery. Both factors enhance corruption, moral hazard and negative selection. Instead of promoting development, aid extends the life of bad institutions and those in power. Proposals to reform foreign aid – like aid privatization and aid conditionality – do not change the existing structure of the incentives in aid delivery, and their implementation may just slightly improve aid efficacy. Larger improvement is not possible. For that reason, foreign aid will continue to be a waste of resources, probably serving some objectives different to those that are usually mentioned, like recipient’s development poverty reduction and pain relief.
This article provides a summary of the regulatory framework in the New Zealand financial sector. It describes the core components of the financial system, including the financial institutions and financial markets, and explains the infrastructure required to support the system. The article then discusses the main aspects of the regulatory framework of the financial system, particularly banking supervision and securities market regulation.
The purpose of an audit is to enhance the degree of confidence of intended users in the financial statements. The objective of an audit of financial statements is to enable an auditor to express an opinion as to whether the financial statements are prepared, in all material respects, in accordance with International Financial Reporting Standards or another identified financial reporting fr...
Doucouliagos, Hristos; Paldam, Martin
The AEL (aid effectiveness literature) studies the effect of development aid using econometrics on macro data. It contains about 100 papers of which a third analyzes conditional models where aid effectiveness depends upon z, so that aid only works for a certain range of the variable. The key term...... in this family of AEL models is thus an interaction term of z times aid. The leading candidates for z are a good policy index and aid itself. In this paper, meta-analysis techniques are used (i) to determine whether the AEL has established the said interaction terms, and (ii) to identify some of the...... determinants of the differences in results between studies. Taking all available studies in consideration, we find no support for conditionality with respect to policy, while conditionality regarding aid itself is dubious. However, the results differ depending on the authors’ institutional affiliation....
CHINA's first HIV positive diagnosis was in 1985, the victim an ArgentineAmerican. At that time most Chinese,medical workers included, thought of AIDS as a phenomenon occurring outside of China. Twenty years later, the number of HIV/AIDS patients has risen alarmingly. In 2003, the Chinese Ministry of Health launched an AIDS Epidemiological Investigation across China with the support of the WHO and UN AIDS Program. Its results show that there are currently 840,000 HIV carriers, including 80,000 people with full-blown AIDS, in 31 Chinese provinces, municipalities and autonomous regions. This means China has the second highest number of HIV/AIDS cases in Asia and 14th highest in the world. Statistics from the Chinese Venereal Disease and AIDS Prevention Association indicate that the majority of Chinese HIV carriers are young to middle aged, more than half of them between the ages of 20 and 29.
Sharma, Anuj; Panigrahi, Prabin Kumar
With an upsurge in financial accounting fraud in the current economic scenario experienced, financial accounting fraud detection (FAFD) has become an emerging topic of great importance for academic, research and industries. The failure of internal auditing system of the organization in identifying the accounting frauds has lead to use of specialized procedures to detect financial accounting fraud, collective known as forensic accounting. Data mining techniques are providing great aid in finan...
... Navigation Bar Home Current Issue Past Issues HIV / AIDS HIV, AIDS, and the Future Past Issues / Summer 2009 Table ... and your loved ones from HIV/AIDS. The AIDS Memorial Quilt In 1987, a total of 1, ...
Siahpush, M; Borland, R; Scollo, M
Aim: Stress relief is commonly provided as a reason for smoking. However, it is plausible that the cost of smoking may create financial stress, particularly among the poor. The aim of the study was to examine the relationship between smoking and financial stress.
We analytically give the financial rogue waves in the nonlinear option pricing model due to Ivancevic, which is nonlinear wave alternative of the Black-Scholes model. These rogue wave solutions may he used to describe the possible physical mechanisms for rogue wave phenomenon in financial markets and related fields.
We analytically give the financial rogue waves in the nonlinear option pricing model due to Ivancevic, which is nonlinear wave alternative of the Black—Scholes model. These rogue wave solutions may he used to describe the possible physical mechanisms for rogue wave phenomenon in financial markets and related fields.
A joint International Monetary Fund (IMF)-World Bank financial sector assessment team visited Kuwait in early September 2003, at the request of the government of Kuwait and the central bank. This financial sector assessment report is based on analyses undertaken during that mission. The principal objective of the mission was to assist the authorities in evaluating the strengths, vulnerabil...
This Financial Sector Assessment (FSA) provides a summary of the policy priorities, and main findings intended to assist the Moroccan authorities in evaluating the country's financial system. It reviews the uneasy trade-off between concerns for stability, and development, suggesting Morocco's macroeconomic policies and practices as a whole tend to err more on the side of the concerns of pr...
Olson, Lucretia Maria
This manual contains student assignments in the financial services area of the marketing process. The individualized competency-based materials are intended to enhance and supplement instruction or to provide the basis for a course of instruction by the teacher-coordinator. Information on skills needed in jobs in financial marketing is first…
Malawi's financial system is small even by regional standards and bank dominated but with a variety of institutions and markets. The Malawian financial system consists of nine banks, two discount houses, one leasing company, eight insurance companies, four development finance institutions (DFIs), a young-but growing-microfinance industry, and a nascent capital market. Only 10 percent of Ma...
Vietnam has achieved remarkable progress since the start of its transition from a centrally planned economy in the mid-1980s. The Economic Renovation Policy announced in December 1986 marked the transition from a centrally planned economy to a mixed economy with greater reliance on markets and increased participation of private financial and non-financial institutions. These reforms contri...
Observers refute the start of a new Asian financial crisis sparked by Viet Nam’s financial and economic troubles It looked like a sudden nightmare when stockholders with hundreds of millions of Vietnamese dong found their pockets half empty overnight. The once prosper- ous bull market in Viet Nam plummeted to
World Bank, (WB)
The financial sector in Fiji is generally sound but has concentrated too heavily on domestic exposures producing a lack of risk diversification. This concentration is an increasing vulnerability, as foreign currency earnings become more dependent on tourism and remittances from workers overseas. Fiji has a financially strong and highly profitable banking sector, good supervision and laws, ...
Robert J. Shiller
Radical financial innovation is the development of new institutions and methods that permit risk management to be extended far beyond its former realm, covering important new classes of risks. This paper compares past such innovation with potential future innovation, looking at the process that produced past success and the possibilities for future financial innovation.
In this paper we see the evolution of a capitalized financial event e, with respect to a capitalization factor f, as the exponential map of a suitably defined Lie group G(f,e), supported by the half-space of capitalized financial events having the same capital sign of e. The Lie group G(f,e) depends upon the capitalization factor f and on the event e itself. After the extension of the definition of exponential map of a Lie group, we shall eliminate the dependence on the financial event e, recognizing the presence of essentially one unique financial Lie semigroup, supported by the entire space of capitalized financial events, determined by the capitalization factor f.
Full Text Available Being active in both the insurance sector and the banking sector, financial conglomerates intrinsically increase the interconnections between the banking sector and the insurance sector. We address two main concerns about financial conglomerates using a unique database on bilateral exposures between 21 French financial institutions. First, we investigate to what extent to which the insurers that are part of financial conglomerates differ from pure insurers. Second, we show that in the presence of sovereign risk, the components of a financial conglomerate are better off than if they were distinct entities. Our empirical findings bring a new perspective to the previous results of the literature based on using different types of data.
This article identifies trusts as a legal structure associated with the global spread of financialization. Although trusts originated in Medieval England, they have acquired a new significance in contemporary finance by virtue of their advantages in terms of 10 profit maximization and capital...... the global spread of financialization: by privileging the rentier–investor within the 15 world economy; by perpetuating a distinctively Anglo-American approach to finance internationally; and by increasing the autonomy of finance vis-a-vis the nation-state. This study shares the primarily descriptive...... and conceptual intent of Krippner’s work on financialization, but extends it in two ways: by comparing trusts to the better- known corporate form of organizing financial activity, and by showing how private 20 capital is implicated in the financialized economy alongside corporate wealth....
This paper examines the link between financial openness and financial development through panel data analysis on advanced and emerging market countries. Using indices, financial openness together with institutional and educational variables explains a large part of the variation in financial development across countries and over time. Our analysis demonstrates that different indexing strategies serve in finding better measures for financial openness and financial development in comparis...
Adam Steen; David MacKenzie
Poor financial literacy may lead to poor life choices. These life choices can create or contribute to financial stress with adverse consequences - not the least of which may be homelessness. These issues are relatively well understood, but there is limited research on the link between financial stress, financial literacy and counselling, and homelessness. Specifically, there has been little research on how improved financial literacy and appropriate financial counselling might hel...
Given the multidimensional interactions between financial and economic cycles, a close monitoring of cycles in financial markets should be an integral part of macroeconomic surveillance and policy design.
Erickson, Donald A.; Madaus, George F.
This document reports on the role of the Federal Government in rendering financial aid to non-public schools. This report includes facts and attitudes. A two-fold approach toward gaining attitudinal data was undertaken. A critical review of existing attitudinal data was commissioned and an analysis of the attitudinal data gathered as part of…
The financial analysis is important when deciding on its future business. Financial analysis is an analysis of data, which are derived from financial statements. These statements are balance sheet, profit and loss account, notes to the financial statements and cash flows. The objective of financial analysis is to determine the financial health of the company and identify its weaknesses, leading to problems. The analysis must be comprehensive and systematic in its implementation. Users of the ...
VALENTINA FETINIUC; IVAN LUCHIAN
Nowadays, financial globalization as latest stage of financial internationalization process becomes to be the most discussed subject by economic scientists. It has many forms of manifestation and directions of development. One of the main features of financial globalization is increasing the role of the financial sector, linked with the expansion of the scope and complexity of foreign economic relations. The financial system has increasingly become a means of redistribution of financial resou...
Christopher Bumcrot; Judy Lin; Annamaria Lusardi
This paper explores how well equipped today’s households are to make complex financial decisions in the face of often high-cost and high-risk financial instruments. Specifically we focus on financial literacy. Most importantly, we describe the geography of financial literacy, i.e., how financial literacy is distributed across the fifty US states. We describe the correlation of financial literacy and some important aggregate variables, such as state-level poverty rates. Finally, we examine the...
Grohmann, Antonia; Kouwenberg, Roy; Menkhoff, Lukas
Financial literacy predicts informed financial decisions, but what explains financial literacy? We use the concept of financial socialization and aim to represent three major agents of financial socialization: family, school and work. Thus we compile twelve relevant childhood characteristics in a new survey study and examine their relation to financial literacy, while controlling for established socio-demographic characteristics. We find in a mediation analysis that both family and school pos...
Alworth, Julian S.; Arachi, Giampaolo; Bilicka, Katarzyna Anna; Ceriani, Vieri; Devereux, Michael P.; Fuest, Clemens; Hemmelgarn, Thomas; Keen, Michael; Klemm, Alexander; Lloyd, Geoff; McCauley, Robert N.; Manestra, Stefano; Masciandaro, Donato; Nicodeme, Gaetan; Passarelli, Francesco
The financial crisis has opened up a global debate on the taxation of the financial sector. A number of international policy initiatives, most notably by the G20, have called for major changes in the tax treatment of financial institutions and transactions as well as individuals working in the financial sector. This book examines how tax policies contributed to the financial crisis and whether taxation can play a role in the reform efforts under way to establish a sounder and safer financial ...
In the 3 day workshop of the Southeast Asian Region on the Financial Management of Population/Family Planning Programs held from March 15 to 17 it was recommended that there by standardization of financial reporting procedures by country programs for population planning. Related to this recommendation was the proposal that measurement of cost benefit and cost effective analysis of country programs be undertaken by the Research and Evaluation Units of the respective population organizations in close coordination with the financial managers. Other major recommendations included: 1) closer coordination between donor agencies and policy making bodies of country programs in the disbursement of funds; 2) more exchange of experiences, ideas, technical knowledge on the financial management of country programs in the Inter G overnmental Coordinating Committee for Southeast Asian countries; and 3) inclusion of applicable financial management topics in the training of clinical staff and followup in actual operation. The priority areas identified for the Inter Governmental Coordinating Committee countries (Nepal, Malaysia, Thailand, Singapore, and the Philippines) are financial planning; generation of resources and budgeting and allocation of funds; accounting and disbursement of funds; financial management at the clinic level; use of and control of foreign aid; and cost effectiveness, benefit analysis and financial reporting. PMID:12334205
Cambodia's National AIDS Program (NAP) appealed for help to fight the spread of HIV. The appeal followed figures issued by the NAP that an estimated 120,000 Cambodians have been infected with HIV, according to Hor Bun Leng, NAP. In August 1995, the World Health Organization (WHO) revised the estimate of Cambodian HIV cases to 30,000 from the previous figure of 5000. The figure was revised upwards again in November 1995 to between 50,000 and 90,000. "The estimated figure for HIV-infected persons in 1996 is 120,000 cases and for people suffering from [advanced] AIDS ... we [have] estimate[d] a least 1000 cases," Hor Bun Leng said. "It's a very, very serious problem. We know how to handle it, how to get the information out to the people, and how to get success, but we need more money--we need funding from any donor agency which could help," he said. The NAP believes that 40,000 people or more could be AIDS patients by the turn of the century. "The WHO says we should spend at least $1 per person for the anti-AIDS campaign. In Thailand the government spent $80 million for a population of about 65 million people. But I have 10 million people and only between $200,000 and $300,000," Hor Bun Leng said. "[In 1995] we only heard about AIDS cases in Phnom Penh, but now we get reports from the provincial level throughout the country," he said. He said most provincial hospitals report new AIDS cases every month. "We don't know how to curb the HIV/AIDS problem. We need money for educational material, but we don't have enough financial resources." PMID:12320253
Syed Faizan Iftikhar
Full Text Available This paper explores the relationship between financial reforms, financial liberalization and the quality of banking regulation and supervision for financial fragility by applying a dynamic two-step system generalized method of moments GMM panel estimator technique. The finding of this study is that the financial vulnerability of the banking sector could be affected, not only by bank-specific and macro-specific variables; but also by financial liberalization and banking regulations and supervision policies. The empirical results of this study confirm the evidence that financial reforms and financial liberalization significantly enhance the likelihood of financial fragility while strong banking regulations and supervision have an inverse relationship with financial fragility. The results of this study also explain that the lag value of loan growth and unemployment contribute to enhancing financial fragility while equity to assets ratio, natural log of total assets and share of foreign banks reduce financial vulnerability.
Doucouliagos, Hristos; Paldam, Martin
The AEL (aid effectiveness literature) is econo¬metric studies of the macroeconomic effects of development aid. It contains about 100 papers of which 68 are reduced form estimates of theeffect of aid on growth in the recipient country. The raw data show that growth is unconnected to aid, but the...... AEL has put so much structure on the data that all results possible have emerged. The present meta study considers both the best-set of the 68 papers and the all-set of 543 regressions published. Both sets have a positive average aid-growth elasticity, but it is small and insignificant: The AEL has...... not established that aid works. Using meta-regression analysis it is shown that about 20 factors influence the results. Much of the variation between studies is an artifact and can be attributed to publication outlet, institu¬tional affiliation, and specification differences. However, some of the...
Arndt, Channing; Jones, Edward Samuel; Tarp, Finn
, are being drawn on the basis of fragile evidence. This paper first assesses the aid-growth literature with a focus on recent contributions. The aid-growth literature is then framed, for the first time, in terms of the Rubin Causal Model, applied at the macroeconomic level. Our results show that aid......The micro-macro paradox has been revived. Despite broadly positive evaluations at the micro and meso-levels, recent literature has turned decidedly pessimistic with respect to the ability of foreign aid to foster economic growth. Policy implications, such as the complete cessation of aid to Africa...... has a positive and statistically significant causal effect on growth over the long run with point estimates at levels suggested by growth theory. We conclude that aid remains an important tool for enhancing the development prospects of poor nations....
In standard asset pricing theory, investors are assumed to invest directly in financial markets. The role of financial institutions is ignored. The focus in corporate finance is on agency problems. How do you ensure that managers act in shareholders' interests? There is an inconsistency in assuming that when you give your money to a financial institution there is no agency problem but when you give it to a firm there is. It is argued both areas need to take proper account of the role of finan...
Chasin, Marshall; Russo, Frank A.
Historically, the primary concern for hearing aid design and fitting is optimization for speech inputs. However, increasingly other types of inputs are being investigated and this is certainly the case for music. Whether the hearing aid wearer is a musician or merely someone who likes to listen to music, the electronic and electro-acoustic parameters described can be optimized for music as well as for speech. That is, a hearing aid optimally set for music can be optimally set for speech, even...
The acquired immunodeficiency syndrome (AIDS) has impacted the civilized world like no other disease. This research aimed to discuss some of the main aids-related complications and their detection by radiology tests, specifically central nervous system and musculoskeletal system disorders. The objectives are: to show specific characteristics of various diseases of HIV patient, to analyze the effect of pathology in patients by radiology, to enhance the knowledge of technologists in aids imaging and to improve communication skills between patient and radiology technologists
Mahmoud, M B
The acquired immunodeficiency syndrome (AIDS) has impacted the civilized world like no other disease. This research aimed to discuss some of the main aids-related complications and their detection by radiology tests, specifically central nervous system and musculoskeletal system disorders. The objectives are: to show specific characteristics of various diseases of HIV patient, to analyze the effect of pathology in patients by radiology, to enhance the knowledge of technologists in aids imaging and to improve communication skills between patient and radiology technologists.
Gilmore, N. J.; Beaulieu, R.; Steben, M.; Laverdière, M.
Acquired immunodeficiency syndrome, or AIDS, is a new illness that occurs in previously healthy individuals. It is characterized by immunodeficiency, opportunistic infections and unusual malignant diseases. Life-threatening single or multiple infections with viruses, mycobacteria, fungi or protozoa are common. A rare neoplasm, Kaposi's sarcoma, has developed in approximately one third of patients with AIDS. More than 800 cases of AIDS have been reported in North America, over 24 of them in Ca...
Williams, G; Ray, S
Strategies for Hope is a series of booklets and videos about innovative and practical approaches to AIDS management and prevention in developing countries. It is published by the UK development agency ACTIONAID and the African Medical and Research Foundation with technical and financial support from the World Health Organization Global Program on AIDS. More than 500,000 booklets and 5000 videos have been distributed worldwide. The authors describe what they learned while researching the eighth booklet in the series, Work Against AIDS, analyzing seven workplace-based AIDS programs in Zimbabwe. They argue that the workplace can play a far greater role in AIDS awareness and prevention than is generally realized. AIDS is already affecting the health and productivity of the workforce in Zimbabwe, where in some areas more than 15% of adults are estimated to be HIV-positive. Morbidity and mortality are rising with concomitant worker absenteeism, yet most workplaces in Zimbabwe do not have even a poster about AIDS on display. There are, however, some impressive education programs under way. These programs, run by a significant number of volunteer peer educators, are working to reduce the stigma attached with sexually transmitted diseases and promote low-cost or free treatment. The authors also note as most promising the program of the Zimbabwe Congress of Trade Unions training 700 Health and Safety representatives at shop-floor and branch levels in AIDS-related human rights issues at the workplace as well as AIDS awareness and prevention. PMID:12318814
Arndt, Channing; Jones, Edward Samuel; Tarp, Finn
The micro-macro paradox has been revived. Despite broadly positive evaluations at the micro- and meso-levels, recent literature doubts the ability of foreign aid to foster economic growth and development. This paper assesses the aid-growth literature and, taking inspiration from the program...... evaluation literature, we re-examine key hypotheses. In our findings, aid has a positive and statistically significant causal effect on growth over the long run, with confidence intervals conforming to levels suggested by growth theory. Aid remains a key tool for enhancing the development prospects of poor...
Madsen, Sara M K; Moore, Brian C J
The signal processing and fitting methods used for hearing aids have mainly been designed to optimize the intelligibility of speech. Little attention has been paid to the effectiveness of hearing aids for listening to music. Perhaps as a consequence, many hearing-aid users complain that they are not satisfied with their hearing aids when listening to music. This issue inspired the Internet-based survey presented here. The survey was designed to identify the nature and prevalence of problems associated with listening to live and reproduced music with hearing aids. Responses from 523 hearing-aid users to 21 multiple-choice questions are presented and analyzed, and the relationships between responses to questions regarding music and questions concerned with information about the respondents, their hearing aids, and their hearing loss are described. Large proportions of the respondents reported that they found their hearing aids to be helpful for listening to both live and reproduced music, although less so for the former. The survey also identified problems such as distortion, acoustic feedback, insufficient or excessive gain, unbalanced frequency response, and reduced tone quality. The results indicate that the enjoyment of listening to music with hearing aids could be improved by an increase of the input and output dynamic range, extension of the low-frequency response, and improvement of feedback cancellation and automatic gain control systems. PMID:25361601
The HIV/AIDS Network and the Philippines Department of Health (DOH) collaborated to produce the AIDS Candlelight Memorial at the Philippine International Convention Center (PICC), May 1995, and World AIDS Day activities on December 1, 1995. After the memorial, a fashion show, "Body Shots," provided a channel for information on acquired immunodeficiency syndrome (AIDS). On World AIDS Day, at the request of DOH, the Network provided speakers who lectured on human immunodeficiency virus (HIV) and AIDS in different government offices. Prior to World AIDS Day, the Network focused on strengthening its cohesiveness and building the capabilities of its member organizations through lectures and symposia during November. Network activities were coordinated by the Remedios AIDS Foundation with support from the other members of the Coordinating Council: Health Action Information Network (HAIN); Caritas; Kabalikat, Stop Trafficking of Pilopinos Foundation, Inc. (STOP);and the Library Foundation (TLF). The Coordinating Council elected for 1996 includes the Remedios AIDS Foundation, HAIN, Caritas, TLF, STOP, the Foundation for Adolescent Development (FAD), and the Salvation Army. PMID:12291699
Dollar, David; Easterly, William
The authors'study of aid, investment, and policies in Africa leads them to four principal conclusions: 1) The traditional links between aid, investment, and growth are not robust. Aid does not necessarily finance investment and investment does not necessarily promote growth. 2) Differences in economic policies can explain much of the difference in growth performance. Poor quality of public services, closed trade regimes, financial repression, and macroeconomic mismanagement explain Africa's p...
Gang, Ira N.; Haider Ali Khan
We examine how the source of foreign aid affects the composition of the recipient government's spending. Does the source of aid - bilateral or multilateral - influence recipient policy-makers' choice between development and nondevelopment expenditure? We depart from previous literature by introducing strong asymmetries in policy-makers' preferences. With the financial constraints set by foreign aid and domestic revenues, this formalization allows us to model and estimate the fiscal behavior o...
Susan M. Dynarski; Judith E. Scott-Clayton
The federal system for distributing student financial aid rivals the tax code in its complexity. Both have been a source of frustration and a focus of reform efforts for decades, yet the complexity of the student aid system has received comparatively little attention from economists. We describe the complexity of the aid system, and apply lessons from optimal tax theory and behavioral economics to show that complexity is a serious obstacle to both efficiency and equity in the distribution of ...
Allen, Franklin; CARLETTI, Elena; QIAN, Jun 'QJ'; Valenzuela, Patricio
We provide a comprehensive review of firms’ financing channels (internal and external, domestic and international) around the globe, with the focus on alternative finance—financing from all the nonmarket, non-bank external sources. We argue that while traditional financing channels, including financial markets and banks, provide significant sources of funds for firms in developed countries, alternative financing channels provide an equally important source of funds in both developed and devel...
Mark R. Stone; Davis, E P
This paper uses flow-of-funds and balance sheet data to analyze the impact of financial crises on corporate financing and GDP in a range of countries. Post-crisis GDP contractions are mainly accounted for by declines in investment and inventory and are more severe for emerging market countries. Post-crisis investment and inventory declines are correlated with the corporate debtequity ratio. Although companies in emerging market countries hold more liquidity, this is not sufficient to prevent ...
This document provides financial data on the CEA for the year 2007. The management report (budget, resources, expenditures) and the accounting are detailed. The main management events of the year 2007 are presented. (A.L.B.)
This textbook on Basic Financial Accounting is targeted students in the economics studies at universities and business colleges having an introductory subject in the external dimension of the company's economic reporting, including bookkeeping, etc. The book includes the following subjects...
This Annex includes financial report of the RA Reactor engineering group for 1980-1981. Detailed data are given covering operating, continual and investment maintenance costs, amortization related to the reactor, as well as fuel elements and heavy water
These documents include the report from independent auditors balance sheet, the statement of income, the statement of changes in equity, the statement of cash flows and the explanatory notes to the financial statements.
ENRON is almost more striking as an epitome, a model, than as a scandal. It is the perfect illustration of the occurrence of a major financial risk with strong contaminating repercussions. Close examination of the measures taken after this scandal, and the many other scandals (WorldCom, Vivendi etc.) which followed it, indicates that financial risk does not only, as might be imagined on more superficial analysis, take its roots in fraudulent behaviour. On the contrary, fraudulent behaviour appears merely to act as a catalyst. The authors suggest that a global approach integrating the concepts of industrial risk management provides a far more appropriate prism through which to interpret and develop effective controls for financial risks. After recalling the main facts, they apply the concepts of cindynics (the science of danger) to the Enron case and rapidly reach a first major conclusion: the financial system does not have its foundations in any reliable system of measurement. (authors)
This Annex includes detailed financial data concerned with: permanent maintenance and operation of the RA reactor, investment maintenance and reconstruction cost of rector systems, as well as purchase of components
This Annex includes financial report of the RA Reactor engineering group from 1987-1983. detailed data concerning operating and continual and investment maintenance costs, amortization related to the reactor, fuel elements and heavy water
Beck, Thorsten; Feyen, Erik
Across the world, supply for financial services rarely matches the demand, given multiple market frictions. This paper discusses the concept of the financial possibilities frontier as a constrained optimum to categorize different problems of shallow financial markets or unsustainable expansion. The paper offers three examples of how to use different data sources to apply the frontier concept to assess the state of financial systems.
Research that is dealing with financial literacy turns to be such an important thing to be conducted. It is due to the fact that financial literacy level of Indonesian society is still very low. A good financial literacy is necessary for every individual to manage his/her finances to achieve prosperity. To have a good level of financial literacy,…
Javad Izadi Zadeh Darjezi; Ehsan Khansalar
Interim reports are summary statements that are usually prepared in semi-annual format in the UK. Until the EU’s Transparency Directive was put into practice in the UK in 2007, there was no legal necessity for companies to provide interim financial reports. (Note 1) Instead such preparation was only a regulatory requirement of the London Stock Exchange. The responsibility on companies listed on the London Stock Exchange to provide these financial reports was first prepared as an suggestion in...
This paper reviews the growth of the online business-to-business marketplaces and proposes that intense competition between and among horizontal hubs and vertical exchanges will lead to consolidation. Financial collaborative trading networks (CTNs) would follow as a consequence. CTNs allow collaboration among providers to ensure that customers receive only the best service from network members. To become best-of-breed in their core services, many financial institutions will outsource their no...
Geert Bekaert; Harvey, Campbell R.; Christian Lundblad
Financial openness is often associated with higher rates of economic growth. We show that the impact of openness on factor productivity growth is more important than the effect on capital growth. This explains why the growth effects of liberalization appear to be largely permanent, not temporary. We attribute these permanent liberalization effects to the role financial openness plays in stock market and banking sector development, and to changes in the quality of institutions. We find some in...
Delivering products and services to nuclear power plants operators, AREVA operates in every sector of the civilian nuclear power and fuel cycle industry. This first half financial report provides information on highlights concerning the nuclear power and the connectors, income statement, performance by division (front end division, reactors and services division, back end division and connectors division), cash flow, balance sheet, post-closing events and consolidated financial statements. (A.L.B.)
Jha, Chandan Kumar
In this paper, I assess the impact of financial reforms on corruption using a panel of 85 countries for 1984-2005. I find that several, but not all, of the policies targeted towards financial liberalization reduce corruption. Specifically, the abolition of entry barriers, credit controls, and excessive reserve requirements along with improvements in the security markets and banking supervision are associated with lower corruption.
The goal of the work is the audit of financial statement of the selected subject and suggestions to improve process of audit and accounting to display the reality fair and accurately. The process of audit is simplified for small firms. Theoretic part is dedicated to laws and regulations, which are obligatory for audit, and technical literature for audit. In the second practical part, audit procedures for real company financial statement verification are implemented. This part is divide...
Iancu, Dan Andrei; Trichakis, Nikolaos; Tsoukalas, Gerry
We study the interplay between financial covenants and the operational decisions of a retailer that obtains financing through a secured, inventory-based lending contract. We characterize how leverage affects dynamic inventory decisions, and find that it can lead to surprising non-threshold policies, and perverse incentives such as sales under-reporting. We show that, under perfectly competitive lending, financial covenants are necessary and sufficient to restore channel optimality, and emerge...
The principal goal of this paper is to review recent studies on small and medium sized companies in order to concentrate on the main critical issues of SMEs financial management. There are three core elements of financial management: (1) the question of liquidity management and cash flow management. Cash is company’s most precious nonhuman asset. (2) The question of long term asset acquisition – which directs the long term course of business. (3) Questions of funding, capital structure and co...
Franklin Allen; Elena Carletti
The financial sector is heavily regulated in order to prevent financial crises. The recent crisis showed how ineffective this regulation and other types of government intervention were in achieving this aim. We argue that the crisis was primarily caused by housing price bubbles. These occurred because of too loose monetary policies and the easy availability of credit resulting from the build up of large foreign exchange reserves by Asian central banks. A number of regulatory reforms are sugge...
Since the bursting of the bubble in the U.S. mortgage market in 2007, the financial turmoil has spread to a wide range of other markets and economies around the world, morphing into a global financial crisis. The five articles in this special issue of the Czech Journal of Economics and Finance cover selected aspects of the crisis, including the contagion from advanced economies to emerging markets, the potential for contagion among European emerging markets, the differentiated impact of the c...
Didier, Tatiana; Mauro, Paolo; Schmukler, Sergio L.
While a number of crises in emerging markets generated widespread contagion in financial markets during the 1990s, more recent crises (notably, in Argentina) have been mostly contained within national borders. This has led some observers to wonder whether contagion might have become a feature of the past, with financial markets now better discriminating between emerging countries with good and bad fundamentals. Available data suggest that the main channels that contribute to transmitting fina...
This Financial Sector Assessment (FSA) is based on the work of the joint International Monetary Fund (IMF)- World Bank missions that visited Kenya from July 15 to July 24,2003, and from September 30 to October 15, 2003, in the context of the Financial Sector Assessment Program (FSAP). The principal objective of the missions was to assist the Kenyan authorities in assessing the development ...
One of the many problems facing the countries in transition from socialism to capitalism after the initial phase of privatization and restructuring is the lack of proven entrepreneurial talent in addition to a low initial level of capital. New entrepreneurs might find it hard to finance their start-up enterprises. This paper therefore argues that a financial collapse and thus a collapse of the new entrepreneurial sector might occur. First, the lack of financial intermediation in transition ec...
@@ If the world learns one lesson from the financial crisis,it should be this: The global economy needs a more disciplined financial system.To accomplish this,more reforms should be carried out.The World Economic and Social Survey 2010,a recent report by the Department of Economic and Social Affairs of the United Nations,outlined this issue.Edited excerpts follow:
Rosen, Sydney; Simon, Jonathon; Vincent, Jeffrey R; MacLeod, William; Fox, Matthew; Thea, Donald M
If your company operates in a developing country, AIDS is your business. While Africa has received the most attention, AIDS is also spreading swiftly in other parts of the world. Russia and Ukraine had the fastest-growing epidemics last year, and many experts believe China and India will suffer the next tidal wave of infection. Why should executives be concerned about AIDS? Because it is destroying the twin rationales of globalization strategy-cheap labor and fast-growing markets--in countries where people are heavily affected by the epidemic. Fortunately, investments in programs that prevent infection and provide treatment for employees who have HIV/AIDS are profitable for many businesses--that is, they lead to savings that outweigh the programs' costs. Due to the long latency period between HIV infection and the onset of AIDS symptoms, a company is not likely to see any of the costs of HIV/AIDS until five to ten years after an employee is infected. But executives can calculate the present value of epidemic-related costs by using the discount rate to weigh each cost according to its expected timing. That allows companies to think about expenses on HIV/AIDS prevention and treatment programs as investments rather than merely as costs. The authors found that the annual cost of AIDS to six corporations in South Africa and Botswana ranged from 0.4% to 5.9% of the wage bill. All six companies would have earned positive returns on their investments if they had provided employees with free treatment for HIV/AIDS in the form of highly active antiretroviral therapy (HAART), according to the mathematical model the authors used. The annual reduction in the AIDS "tax" would have been as much as 40.4%. The authors' conclusion? Fighting AIDS not only helps those infected; it also makes good business sense. PMID:12577655
Yan, Zhenya, E-mail: email@example.com [Key Laboratory of Mathematics Mechanization, Institute of Systems Science, AMSS, Chinese Academy of Sciences, Beijing 100190 (China)
The coupled nonlinear volatility and option pricing model presented recently by Ivancevic is investigated, which generates a leverage effect, i.e., stock volatility is (negatively) correlated to stock returns, and can be regarded as a coupled nonlinear wave alternative of the Black–Scholes option pricing model. In this Letter, we analytically propose vector financial rogue waves of the coupled nonlinear volatility and option pricing model without an embedded w-learning. Moreover, we exhibit their dynamical behaviors for chosen different parameters. The vector financial rogue wave (rogon) solutions may be used to describe the possible physical mechanisms for the rogue wave phenomena and to further excite the possibility of relative researches and potential applications of vector rogue waves in the financial markets and other related fields. -- Highlights: ► We investigate the coupled nonlinear volatility and option pricing model. ► We analytically present vector financial rogue waves. ► The vector financial rogue waves may be used to describe the extreme events in financial markets. ► This results may excite the relative researches and potential applications of vector rogue waves.
The coupled nonlinear volatility and option pricing model presented recently by Ivancevic is investigated, which generates a leverage effect, i.e., stock volatility is (negatively) correlated to stock returns, and can be regarded as a coupled nonlinear wave alternative of the Black–Scholes option pricing model. In this Letter, we analytically propose vector financial rogue waves of the coupled nonlinear volatility and option pricing model without an embedded w-learning. Moreover, we exhibit their dynamical behaviors for chosen different parameters. The vector financial rogue wave (rogon) solutions may be used to describe the possible physical mechanisms for the rogue wave phenomena and to further excite the possibility of relative researches and potential applications of vector rogue waves in the financial markets and other related fields. -- Highlights: ► We investigate the coupled nonlinear volatility and option pricing model. ► We analytically present vector financial rogue waves. ► The vector financial rogue waves may be used to describe the extreme events in financial markets. ► This results may excite the relative researches and potential applications of vector rogue waves.
The presentation topic is California's approach to license application review in meeting financial assurances for the proposed Ward Valley site. The purpose of the presentation is to provide information on specific financial assurance provisions contained in 10 CFR Part 61 and how California intends to satisfy those requirements. Also, as rate setter, California intends to demonstrate how it will assure allowable costs to the rate base though a financial prudency review. The key provisions of financial assurance are: 10 CFR Section 61.61 - This provision requires an applicant to demonstrate its ability to finance licensed activities; 10 CFR Section 61.62 - This provision requires an applicant to provide assurance that sufficient funds will be available for site closure and stabilization; and 10 CFR Section 61.63 - This provision requires an applicant to provide 'a copy of a binding arrangement, such as a lease, between the applicant and the disposal site owner, so that sufficient funds will be available to cover the costs of the institutional control period.' To assist California in its determination of financial assurance compliance to be demonstrated by the applicant for Part 61 requirements, is NUREG guidance document 1199 'Standard Format and Content of a License Application for a Low-Level Radioactive Waste (LLRW) Disposal Facility.' The detailed financial assurance provisions of NUREG 1199 are then embodied in NUREG 1200, 'Standard Review Plant for the Review of a License Application for a LLRW Disposal Facility.'
Recently,the media and commentators have saturated us with talk of the subprimeinduced financial debacle. Yet,some basic questions remain unanswered:why did almost all of the"market doorkeepers"fail to function in the crisis? Why did the financial intermediaries,such as investment banks selling complex derivatives,go under? Why did the crisis cause such far-reaching repercussions? What seed did U.S.Treasury Secretary Henry Paulson sow for the fiasco to rage globally? What does the future hold for financial regulation? In the face of the tempestuous"financial tsunami,"what lessons should China learn and how should the country develop a more secure capital market? Unlike other macroeconomists, Dr.Huang Ming proceeds from a micro perspective to sort out the financial mess along the logical chain within the capital market.In this interview,Dr.Huang presents a clear and unsettling look at the breakout,transmission and spreading path of the financial crisis
Brady, Richard T.
Federal agencies have traditionally prepared financial reports to monitor and report the obligation and expenditure of federal funding. With the passage of the Chief Financial Officers Act of 1990, Congress called for the production of financial statements that fully disclose a federal entity's financial position and results of operations. The disclosure of this type of information, it was believed, would enable decision-makers to understand the financial implications of budgetary, policy and...
Syed Faizan Iftikhar
This paper explores the relationship between financial reforms, financial liberalization and the quality of banking regulation and supervision for financial fragility by applying a dynamic two-step system generalized method of moments GMM panel estimator technique. The finding of this study is that the financial vulnerability of the banking sector could be affected, not only by bank-specific and macro-specific variables; but also by financial liberalization and banking regulations and supervi...
Riccardo Calcagno; Chiara Monticone
The low level of financial literacy in many countries suggests that households are at risk of sub-optimal financial decisions. In this paper we assess to what extent financial advisors can substitute for such a lack of knowledge, by analyzing the effect of investors’ financial literacy on their decision about how much to rely on financial advisors. We model the strategic interaction between poorly informed investors and perfectly informed advisors facing conflicts of interest. We find that mo...
Santos, Elisabete; Abreu, Margarida
This work analyses the impact of financial literacy and financial behaviour of individuals on the likelihood of over-indebtedness, controlling for socioeconomic factors, the type of mortgage and the event of a negative income shock. Using the data from the 2009 National Financial Capability Study of the United States, we consider three self-reported measures of over-indebtedness: financial distress, arrears and foreclosure. Using the data from the National Financial Capability Study carried o...
Rahmani, Fouad Lazhar
The aim of this paper is to present mathematical modelling of the spread of infection in the context of the transmission of the human immunodeficiency virus (HIV) and the acquired immune deficiency syndrome (AIDS). These models are based in part on the models suggested in the field of th AIDS mathematical modelling as reported by ISHAM .
In an article on genetic immunity to AIDS published in Science magazine, American and Chinese scientists claim to have discovered why certain HIV carriers do not develop full-blown AIDS. They say that the key to this conundrum lies in a particular protein in the endocrine system that inhibits development of HIV.
Lof, Matthijs; Mekasha, Tseday Jemaneh; Tarp, Finn
to nonrandom omission of a large proportion of observations. Furthermore, we show that NDHKM’s use of co-integrated regressions is not a suitable empirical strategy for estimating the causal effect of aid on income. Evidence from a Panel VAR model estimated on the dataset of NDHKM, suggests a...... positive and statistically significant long-run effect of aid on income....
Pohl, Melvin I.
After defining HIV and the AIDS disease and outlining symptoms and means of infection, this fact sheet lists the ways alcohol and drugs are involved with the AIDS epidemic, noting that needle-sharing transmits the virus; that alcohol or mood-altering drugs like crack cocaine cause disinhibition, increase sex drive, encourage sex for drugs, and…
Hovius, M; Leemans, G J
Different dental hygiene aids are discussed, such as floss, tape, superfloss, gauze, flat shoelace, toothpick, interproximal brush, single-tufted brush, electric toothbrush, manual toothbrush and oral irrigation. Research shows that not one specific aid is superior to another if effectiveness is taken into consideration. Other factors which can influence oral hygiene efficacy are discussed as well. PMID:11830968
Donovan, C. A.; Stratton, E.
It has been 15 years since AIDS made its first appearance in North America, probably longer worldwide. In that time, our knowledge of the epidemiology of AIDS has grown and changed. This review highlights significant aspects of the epidemic with particular emphasis on the evolution of this disease in North America.
Ahmad Reza Nazeri
Prescription of hearing aid is an extensive special category of knowledge in the field of audiology. This article is aimed at discussing the function of hearing aid and also management of patients in the noisy environments and presenting solutions to overcome problems regarding to this issue along with taking a look to the equipments prepared nowadays to cope with noisy situations.
Selaya, Pablo; Thiele, Rainer
This article examines empirically the proposition that aid to poor countries is detrimental for external competitiveness, giving rise to Dutch disease type effects. At the aggregate level, aid is found to have a positive effect on growth. A sectoral decomposition shows that the effect is (i) sign...... labour capacity that prevents the real exchange rate from appreciating....
This Financial Sector Assessment (FSA) is based on the work of the joint World Bank and IMF Financial Sector Assessment Program (FSAP) update team that visited Sri Lanka between June 20 and July 3, 2007. The principal objectives of the FSAP Update were to: (i) assess developments in the financial sector and progress in strengthening financial sector regulation since 2002; and (ii) identify...
Grace C. Huerta
Full Text Available The world has been challenged by the AIDS epidemic for 15 years. In 1985, the U.S. Department of Health and Human Services, Centers for Disease Control, allocated funds to all state departments of education to assist schools in the development of AIDS education policies and programs. Yet, these policies do not ensure that all students receive effective AIDS education. On September 21, 1991, the Arizona Legislature passed Senate Bill 1396, which requires public schools to annually provide AIDS education in grades K-12. The bill was rescinded in 1995. With prohibitive curriculum guidelines, limited teacher training opportunities and tremendous instructional demands, this educational policy was implemented in disparate forms. By examining the perspectives of the Arizona educators (representing three school districts, this qualitative study reveals how teachers ultimately controlled the delivery and nature of AIDS instruction based upon personal values, views of teacher roles, and their interpretation of the mandate itself.
Franklin Allen; Douglas Gale
What is a Financial System? The purpose of a financial system is to channel funds from agents with surpluses to agents with deficits. In the traditional literature there have been two approaches to analyzing this process. The first is to consider how agents interact through financial markets. The second looks at the operation of financial intermediaries such as banks and insurance companies. Fifty years ago, the financial system could be neatly bifurcated in this way. Rich households and larg...
This paper examines issues of corporate governance arising from the activities of financial institutions and markets. It is argued that governance problems are particularly severe in financial institutions vis-a-vis firms in other industries, and particularly important for society given the central role of financial institutions and markets in the financing and corporate governance activities of the economy. Processes of financial reform and financial system design have, it is argued, general...
Sormunen, Nina; Laitinen, Teija
The present study adds to our understanding and knowledge of financial distress predictions regarding the usefulness of financial ratios in the late stages of the financial distress process. The study contributes to previous research by generating information concerning: (1) the behavior and...... usefulness of single financial ratios in short-term financial distress prediction when the effect of each different financial distress process stage is considered; (2) the effects of recognition of the financial distress process stage on the financial distress prediction model. The time horizon for...... prediction is less than one year, and the empirical data consist of financial statement information from 106 distressed firms undergoing reorganization and their matched counterparts for 2003-2007. To analyze the effects of the specific distress process stage, the sample has been divided into two groups...
Shuo BAI; Shouyang WANG; Lean YU; Aoying ZHOU
@@ With the rapid development and globalization of financial markets (especially emerging financial markets), financial information processing has become a hot research area due to its immense practical applications. Such applications include stock market analysis, foreign exchange rate forecasting, option pricing, bank failure prediction, financial risk management, credit rating and scoring, bank loan management, customer relationship management, and antimoney laundering. Accordingly, there has been an increasing demand in using financial information processing techniques for many core financial tasks. Nevertheless, as a new cross-disciplinary field, the existing financial information processing methods are far from practical for scenarios in the global financial market; it is currently not clear how the information processing techniques, which are rapidly emerging, can be used to improve the quality of financial information processing.
Khorosheva Olena I.
Full Text Available The goal of the article lies in identification of grounds of interconnection of the financial economy and financial system. The study was conducted with consideration of main provisions of the theory of finance and concept of financial economy, which is a set of means used in the process of reproduction of finance by their owner for formation and / or maintenance of the own system of values in the viable state. For the first time ever the structure of the financial system is identified as an aggregate of financial economies and financial market. The article justifies a necessity of expansion of boundaries of perception of the state financial economy, which is offered to include public financial economy of the state level and the set of financial economies of the state as a subject of economic activity. Such an approach forms a base for justification of the synthesis of participation of the state in financial relations as the owner and as the basic macro-economic regulator. Prospects of further study in this direction are: development of classification of financial economies; revelation of specific features of impact of shadow finance on development of the national financial economy; and assessment of possibilities of inclusion of structured financial products into the system of values of financial economies in Ukraine.
Full Text Available In recent years, in all countries - albeit to varying degrees - many changes have taken place in the financial structure which have accompanied the development of new instruments, markets and financial intermediaries. A growing literature describes and analyses these changes, generically grouped together under the label of "financial innovation". In order to clarify the costs and benefits of what is meant by financial innovation, it is necessary to jointly examine both its causes and its effects. To this end, it is first necessary to consider some very general questions that thus far have yet to be answered in any certain or unambiguous way, if they have been considered in the scientific literature at all. The present work examines the current state of the theory of financial innovation, to then illustrate the main features of the innovation process currently taking place. This leads to some considerations on the resulting implications for the modus operandi of monetary policy and, more generally, for the definition of this policy’s transmission mechanisms.
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Jones, Edward Samuel
What determines how much foreign aid donors provide? Existing answers to this question point to a complex range of influences. However, the tasks of distinguishing between long- and short-run factors, as well as differences between donors, have not been adequately addressed. Taking advantage of...... data spanning nearly 50 years, this paper uses panel cointegration techniques to consider these issues. The analysis provides clear evidence for heterogeneity both between donors and over time, bandwagon effects, and a growing influence of security considerations in aid provision. Domestic...... macroeconomic shocks have a moderate but delayed effect on aid disbursements....
Tarp, Finn; Mekasha, Tseday Jemaneh
Recent litterature in the meta-analysis category where results from a range of studies are brought together throws doubt on the ability of foreign aid to foster economic growth and development. This article assesses what meta-analysis has to contribute to the litterature on the effectiveness of...... foreign aid in terms of growth impact. We re-examine key hypotheses, and find that the effect of aid on growth is positive and statistically significant. This significant effect is genuine, and not an artefact of publication selection. We also show why our results differ from those published elsewhere....
Foreign aid looms large in the public discourse; and international development assistance remains squarely on most policy agendas concerned with growth, poverty and inequality in Africa and elsewhere in the developing world. The present review takes a retrospective look at how foreign aid has...... been effective in furthering economic growth and development is discussed in some detail. I add perspective and identify some critical unresolved issues. I finally turn to the current development debate and discuss some key concerns, I believe should be kept in mind in formulating any agenda for aid in...
Mekasha, Tseday Jemaneh; Tarp, Finn
Some recent literature in the meta-analysis category where results from a range of studies are brought together throws doubt on the ability of foreign aid to foster economic growth and development. This paper assesses what meta-analysis has to say about the effectiveness of foreign aid in terms of...... the growth impact. We re-examine key hypotheses, and find that the effect of aid on growth is positive and statistically significant. This significant effect is genuine, and not an artefact of publication selection. We also show why our results differ from those published elsewhere....
Cohen, B.A.; Pomeranz, S.; Rabinowitz, J.G.; Rosen, M.J.; Train, J.S.; Norton, K.I.; Mendelson, D.S.
Fifty-two patients with pulmonary complications of acquired immunodeficiency syndrome (AIDS) were studied over a 3-year period. The vast majority of the patients were homosexual; however, a significant number were intravenous drug abusers. Thirteen different organisms were noted, of which Pneumocystis carinii was by far the most common. Five patients had neoplasia. Most patients had initial abnormal chest films; however, eight patients subsequently shown to have Pneumocystis carinii pneumonia had normal chest films. A significant overlap in chest radiographic findings was noted among patients with different or multiple organisms. Lung biopsy should be an early consideration for all patients with a clinical history consistent with the pulmonary complications of AIDS. Of the 52 patients, 41 had died by the time this report was completed.
Wang, Jianxin; Gochoco-Bautista, Maria Socorro; Sotocinal, Noli
Motivated by the literature on the finance–growth nexus, this paper explores the mechanisms through which finance affects corporate investments and capital accumulation. We separate the effects of financial conditions from those of financial development. Based on a sample of firms from five Asian emerging economies, we find that (1) financial conditions and financial development affect corporate investments through different channels. Financial conditions affect firms' growth opportunities an...
Hannig, Alfred; Jansen, Stefan
ï»¿ï»¿ï»¿ï»¿The recent financial crisis has shown that financial innovation can have devastating systemic impacts. International standard settersâ€™ and national regulatorsâ€™ response has been a global concerted effort to overhaul and tighten financial regulations. However, at a time of designing stricter regulations, it is crucial to avoid a backlash against financial inclusion. In this chapter, we argue that greater financial inclusion presents opportunities to enhance financial stability....
Javad Izadi Zadeh Darjezi
Full Text Available Interim reports are summary statements that are usually prepared in semi-annual format in the UK. Until theEU’s Transparency Directive was put into practice in the UK in 2007, there was no legal necessity forcompanies to provide interim financial reports. (Note 1 Instead such preparation was only a regulatoryrequirement of the London Stock Exchange. The responsibility on companies listed on the London StockExchange to provide these financial reports was first prepared as an suggestion in 1964, to meet therequirements for updates by financial analysts (May, 1971. In 1973, this advice to provide the market withinterim information became a requirement for the admission of stocks and securities to be listed on the stockExchange (Lunt, 1982. This study investigates the preparation of interim reports, and accounting standards forinterim reporting. Also, this study discusses the main purpose of interim reports, the methods of preparation andthe benefits of reporting frequency.
The coupled nonlinear volatility and option pricing model presented recently by Ivancevic is investigated, which generates a leverage effect, i.e., stock volatility is (negatively) correlated to stock returns, and can be regarded as a coupled nonlinear wave alternative of the Black-Scholes option pricing model. In this Letter, we analytically propose vector financial rogue waves of the coupled nonlinear volatility and option pricing model without an embedded w-learning. Moreover, we exhibit their dynamical behaviors for chosen different parameters. The vector financial rogue wave (rogon) solutions may be used to describe the possible physical mechanisms for the rogue wave phenomena and to further excite the possibility of relative researches and potential applications of vector rogue waves in the financial markets and other related fields.
Just, Sine Nørholm; Mouton, Nico
conceptual framework that combines modern framing theory and classical stasis theory is applied to the rhetorical struggles over the meaning of ‘Liborgate’. Findings: While rhetorical struggles over ‘Liborgate’ overtly center on the issue of who is to blame, an analysis of the argumentative relations between...... competing frames leads to the conclusion that this political ‘blame game’ is related to struggles over how to define the scandal, how to conceptualize its causes, and policy recommendations. Banks may have lost the battle of ‘Liborgate’, but the war over the meaning of financial culture is far from over....... Originality/value: The paper is theoretically and methodologically original in its combination of the theories of framing and stasis, and it provides analytical insights into how sense is made of financial culture in the wake of the financial crisis....
Full Text Available The rules laid down by Romanian Capital Market Law and the regulations put in force for its implementation apply to issuers of financial instruments admitted to trading on the regulated market established in Romania. But the issuers remain companies incorporated under Company Law of 1990. Such dual regulations need increased attention in order to observe the legal status of the issuers/companies and financial instruments/shares. Romanian legislator has chosen to implement in Capital Market Law special rules regarding the administration of the issuers of financial instruments, not only rules regarding admitting and maintaining to a regulated market. Thus issuers are, in Romanian Law perspective, special company that should comply special rule regarding board of administration and general shareholders meeting.
SUCIU GHEORGHE; BÂRSAN PIPU-NICOLAE
Financial diagnosis is a part of a company’s general diagnosis. The role of the financial diagnosis is to establish the situation of the company at a given time, to see if it is viable, to help the decision-makers to take the best measures to continue or cease the activity, or to sell, buy or liquidate the company. Each entity is unique and arbitrarily applying some analysis models used by other companies can lead to significant errors. One cannot analyze in the same way a company th...
The Critical Infrastructure Protection Survey recently released by Symantec found that 53% of interviewed IT security experts from international companies experienced at least ten cyber attacks in the last five years, and financial institutions were often subject to some of the most sophisticated and large-scale cyber attacks and frauds. The book by Baldoni and Chockler analyzes the structure of software infrastructures found in the financial domain, their vulnerabilities to cyber attacks and the existing protection mechanisms. It then shows the advantages of sharing information among financia
It is now clear that the global economy is facing the worst economic and financial crisis since the Second World War. The crisis manifested itself initially in the subprime mortgage market in the US, but quickly spread to Europe; in the breakdown in the market for credit default swapsâ€”a huge, unregulated and thoroughly opaque market; and in the general collapse of the markets for securitised instruments across the global financial system. It was aggravated, most analysts agree, by the initi...
Financial audit expresses, as its main aim, an opinion on the extent to which the financial statements present a true and fair view of the entity’s economic affairs at the balance sheet date and the results for the year ended, in compliance with the laws in force and practices in the country where the entity is established. To achieve this objective, the audit process requires an examination management and methodology to ensure an independent opinion, so as to equally protect all the users of...
Introduction of new financial instruments may not put China’s markets in the fast lane just yet, a market analyst warns China has introduced new sources of leverage into the financial system, which will enable participants to have "new opportunities both to hedge their bets and lever them up using futures, options and margin trading," according to Mark A DeWeaver, a research analyst in Shenzhen who now manages a fund investing in Asian equities called Quantrarian Asia Hedge. He compares these measures to "turbocharging a car," which he says can damage it if the engine’s basic structure cannot handle the pressure. His main ideas follow:
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Doucouliagos, Hristos; Paldam, Martin
The AEL consists of empirical macro studies of the effects of development aid. At the end of 2004 it had reached 97 studies of three families, which we have summarized in one study each using meta-analysis. Studies of the effect on investments show that they rise by 1/3 of the aid – the rest is...... crowded out by a fall in savings. Studies of the effect on growth show an insignificant positive effect. Studies of the effect on growth, conditional on something else, have till now shown weak results. The Dutch Disease effect of aid has been ignored. The best aggregate estimate is that since its start...... in the early 1960s aid has increased the standard of living in the poor countries by 20%....
The paper present the methodologies and tools developed in the framework of Performance Aided Design (PAD), a term that indicates the shift in the use of Computer Aided Design (CAD) tools from a mere translation in a digital environment of the operations once carried on paper, to an evolving...... paradigm where the increasing integration of parametric tools and performative analysis is changing the way we learn and design. The term Performance Aided Architectural Design (PAD) is proposed at the Master of Science of Architecture and Design at Aalborg University, with the aim of extending a tectonic...... tradition of architecture with computational tools, preparing the basis for the creation of the figure of a modern master builder, sitting at the boundary of the disciplines of architecture and engineering. Performance Aided Design focuses on the role of performative analysis, embedded tectonics, and...
HIV stands for human immunodeficiency virus. It harms your immune system by destroying the white blood cells ... It is the final stage of infection with HIV. Not everyone with HIV develops AIDS. HIV most ...
Tarp, Finn; Arndt, Channing; Jones, Edward Samuel
inputs. We take as our point of departure a growth accounting analysis and review both intended and unintended effects of aid. Mozambique has benefited from sustained aid inflows in conflict, post-conflict and reconstruction periods. In each of these phases aid has made an unambiguous, positive...... sustained future growth, Mozambique will have to develop its capacity to maximise the benefits from its natural resources while ensuring at the same time the necessary framework is put in place to promote constructive integration in international markets...... contribution both enabling and supporting rapid growth since 1992. At the same time, the proliferation of donors and aid-supported interventions has burdened local administration and there is a distinct need to develop government accountability to its own citizens rather than donor agencies. In ensuring...
Excerpts of speeches given at a public rally on World AIDS Day 1998 underscore the need to energize support for those living with HIV/AIDS, emphasize the importance of increasing public education efforts, and memorialize those lost to the disease. Reverend Pat Bumgardner stressed the need to educate children about practicing safe sex and the dangers of drug use. He also focused attention on AIDS as a worldwide crisis, with the 30 million people who have HIV or AIDS. Councilwoman Margarita Lopez spoke about achieving objectives and securing resources through activism. She also condemned New York City's Mayor for trying to hinder the rally. Anne Chelimsky, who did not speak at the rally but attended it, reflected on her new role as an activist, and on how the rally affected her. PMID:11367196
US Agency for International Development — AidData is a research and innovation lab making information on development finance more accessible and actionable. Tracking more than $6 trillion dollars from 90+...
... Casual contact, such as hugging Mosquitoes Participating in sports Touching items that were touched by a person ... 20 years. People with AIDS have had their immune system damaged by HIV. They are at very high ...
This article discusses the 2.5 Billion dollar aid package to Russia which House Appropriations Foreign Operations Subcommittee Chairman David Obey successfully defended on the House floor last June. Arizona Republican Jon Kyl offered an admendment that would cut 700 million from the package and was defeated with a 118 to 140 vote. The bill is currently in the hands of the Senate. The controversy over the bill and details concerning the aid package are discussed. The aid deal includes 250 million dollars for nuclear reactor safety and energy as well as environmental technical assistance, 655 million dollars to aid private sector development, and 704 million dollars for additional technical and economic assistance
Issues in Science and Technology, 1987
Contains excerpts from a special study on the AIDS epidemic by the Institute of Medicine and National Academy of Sciences. Presents an overview of the problem, outlines educational needs and public health measures, and identifies future research needs. (ML)
HIV stands for human immunodeficiency virus. It kills or damages the body's immune system cells. AIDS stands ... is the most advanced stage of infection with HIV. HIV most often spreads through unprotected sex with ...
Tinker, J; Sabatier, R
This article discusses the acquired immunodeficiency syndrome (AIDS) epidemic an its effect on developing countries, with emphasis on Africa. The AIDS death toll will be high in the US: 180,000 by 1991, but it will be in the millions in developing countries. In Africa, AIDS is mainly transmitted heterosexually, is as prevalent among women as among men, and is taking a serious toll among professional classes and young wage earners. The social costs of funerals has increased, and company clinics and sick pay funds have been overwhelmed. In Uganda, the epidemic adds to the state of psychological shock people have sufferred because of the civil war. Medical professionals have been hard-pressed to acquire equipment for testing blood for the virus, although there have been efforts to protect blood supplies through exhaustive testing. Endemic tuberculosis becomes an even more serious problem in developing countries, since AIDS lowers resistance to it. AIDS also effects many developing country children, usually through infected mothers, who can transmit AIDS through breast milk or during pregnancy of birth. This poses a dilemma for promoters of breastfeeding. It is also feared that innoculation of immunosuppressed children may be dangerous. The global picture suggests that Africa is hardest hit: seropositivity prevalence ranges from 0.7% of Congo blood donors to 33% of male donors in Lusaka Zambia. Brazil's cases are mainly homosexual, and in Asia the prevalence is mostly low, although there is a great potential danger in countries where prostitution and heroin addiction are prevalent. The only effective weapon against AIDS is education and blood testing to prevent spread. Despite good education programs in some countries, e.g. Rwanda, there is still widespread ignorance of how AIDS is spread. PMID:12314457
Andrea Filippo Presbitero
Managing and identifying risks are a key challenge for Low Income Countries (LICs), which are extremely vulnerable to exogenous shocks. However, the use of risk management tools by developing countries is quite limited. The paper discusses in which ways aid could strengthen the capacity of LICs to deal with vulnerability to external shocks and to manage capital flows. We provide some novel empirical evidence on the potential role of aid as output stabilizer and shock absorber in recipient cou...
Vaidian, Anil K; Louis M Weiss; Tanowitz, Herbert B.
Chagas' disease caused by Trypanosoma cruzi is an opportunistic infection in the setting of HIV/AIDS. Some individuals with HIV and chronic T. cruzi infection may experience a reactivation, which is most commonly manifested by meningoencephalitis. A reactivation myocarditis is the second most common manifestation. These presentations may be difficult to distinguish from toxoplasmosis in individuals with HIV/AIDS. The overlap of HIV and Trypanosoma cruzi infection occurs not only in endemic ar...
Rull, S; Sanchís, M J; Palacios, A; Anguiz, A; Colomina, J
Hepatic disorders in AIDS are very common, although the injuries observed are usually non-specific. This is the reason why the real usefulness of hepatic biopsy in this patients is being currently discussed. In this work, such aspect and the hepatic injuries observed in patients with AIDS are discussed. Current indications for hepatic biopsy are summarized, as well as its later manipulation in order to obtain maximum profitability of it. PMID:1576316
December first was World AIDS Day. Last year, the campaign (运动；活动) centered on women and girls. They made up almost half of all people infected with the virus HIV that causes AIDS. And H1V was spreading faster among women than men in most areas of the world. These findings (发现) werefrom the yearly report by the United Nations and the World Health Organization, a UN agency
Heinemann, Trine; Matthews, Ben; Raudaskoski, Pirkko Liisa
to the interaction during hearing aid fitting. This report of a Danish pilot study describes two such problems. The first problem arises from the requirement that the audiologist needs to ‘translate’ the patient’s subjective hearing description for making technological decisions. The second problem...... is the way in which the hearing aid user’s implicit and often unrealistic expectations are handled. This kind of research has potential application for developing a model of best practices....
Gammon, Earl; Wigan, Duncan
This article advances towards the reconceptualization of financial innovation. It examines the calamitous role of financial innovation in the global financial crisis, developing a non-rational theorization of finance within the social economy that factors in the role of affect. Outlining the...... financial innovation premised on pecuniary expedients and aspirations of market completion. As we argue, in a broader affective economy, contemporary financial innovation serves invidious ends, providing a means of attaining social distinction, constituting a medium for violent expenditure and bestowing...... access to sovereign expression on its purveyors. Highlighting the non-rational dimension of financial markets prompts a reconsideration of the nature of crisis and the means of its redress....
Campbell, John L.
for each other's shortcomings rather than reinforce each other's incentives. This paper uses evidence from the US financial crisis of 2008 to adjudicate this debate. It argues that different types of institutional complementarities are necessary in combination to ensure market stability and successful...
Pontoppidan, Caroline Aggestam
The advance of International Financial Reporting Standards (IFRS) across the globe has accelerated over the last few years. This is placing increasing demands on educators to respond to these changes by an increased focus on IFRS in the curricula of accounting students. This paper reviews a range...
of ‘tax havens’. The chapter argues in consequence that policy success relies on an admixture of unilateral innovation and mutually reinforcing policy instruments. In the context of the global financial crisis and acute concerns regarding fiscal capacity US intervention has had a catalytic effect. EU...
Poulsen, Rolf; Rasmussen, Kourosh Marjani
In the basic Markowitz and Merton models, a stock’s weight in efficient portfolios goes up if its expected rate of return goes up. Put differently, there are no financial Giffen goods. By an example from mortgage choice we illustrate that for more complicated portfolio problems Giffen effects do...
Earning, spending, saving and investing, and using credit are important aspects of money management that teens need to understand as they move into adulthood. Family and consumer sciences (FCS) professionals have a long history of addressing this important life skill. This brief article describes the High School Financial Planning Program (HSFPP),…
World Bank; International Monetary Fund
The Montenegrin economy has yet to recover from the collapse of the lending boom in 2008. The financial crisis hit asset quality, weakening banks’ portfolios. The legacy of pre-crisis rapid increase in indebtedness is adding to banking sector vulnerabilities. The crisis triggered a prolonged period of balance sheet deleveraging, which has translated into a near uninterrupted credit contrac...
Full Text Available Un nouveau système financier, à la fois concentré et autonome, se met en place. Ses «lieux sacrés» sont cartographiés: «centres universels» majeurs (2 ou 3, centres régionaux, centres «spécialisés» en archipel.
Maudos Villarroya Joaquín; Fernández de Guevara Radoselovics Juan
The aim of the paper is to analyze the process of financial integration in Europe and its impact on economic growth since the introduction of the Euro in 1999. In particular, we focus on how the international financial crisis that started in 2007 has affected integration and growth. By combining information at country, sector and firm level, we quantify the effect of financial integration on financial development and therefore on economic growth. Our results illustrate that a significant part...
Paulson, Anna L.; Kirstin E. Wells
The sweeping overhaul of the nation’s financial regulatory system that was signed into law on July 21, 2010, will touch virtually every aspect of financial markets. This Chicago Fed Letter focuses on provisions in the Dodd–Frank Wall Street Reform and Consumer Protection Act that affect “financial market utilities,” critical behind-the-scenes institutions and arrangements that ensure the smooth functioning of financial markets.
We argue that a financial transaction tax complements financial market regulation. With the tax, governments have an additional instrument at hand to influence trading activity. FTT aims to reduce regulatory arbitrage, flash trading, overactive portfolio management, excessive leverage and speculative transactions of financial institutions. The focus clearly addresses these classes of activities that have contributed to the financial crisis. However, if contrary to expectations harmful transac...
Anthony Saunders; Lemma W. Senbet
This paper overviews the major problems confronting African Financial systems and sketches a wide range of issues for future research. The framework of modern financial theory is utilized in analyzing the characteristics of African financial systems. The framework begins with an idealized market system as a benchmark and introduces various classes of market imperfections and agency problems arising from conflicting interests among stakeholders in a financial economy, including the public sect...
In recent years, as workers have gained an unprecedented degree of control over their pensions and savings, the importance of financial literacy and financial education has increased considerably. Large changes in the structure of financial markets, labor markets, and demographics in developed countries have led to this change. Consumers have a bewildering array of complex financial products – from reverse mortgages to annuities – to choose from, making saving decisions increasingly complex. ...
HIV/AIDS has posed an increasingly serious issue in China. In recent years, Chinese government has taken further intensified efforts to combat HIV/AIDS with high-level political commitment, supportive policy development, increased financial allocation, large-scale of governmentled initiatives, expanded international cooperation and great involvement of non-governmental organizations. Meanwhile gaps and challenges coexist impacting the implementation and the results of national HIV/AIDS programs. Thus, further government efforts are needed to improve and tailor the actions to meet the requirement of HIV/AIDS control in China.
Prawitz, Aimee D.; Cohart, Judith
Based on the life-cycle theory of consumption, this quasi-experimental study of 995 employees examined changes in financial behaviors following employee-needs-driven workplace financial education. Repeated-measures ANOVA compared participants and non-participants on perceived financial wellness and savings ratios; main effects indicated that both…
Korb, Brian R.
Widows constitute a growing segment of the U.S. population; however, very little has been done to educate them on the basics of personal financial planning. The creation and implementation of financial planning education programs for widows can help them become more financially literate and free them from anxiety and fear. Interviews with eight…
Call, Lindsay Larson; Dyer, W. Justin; Wiley, Angela R.; Day, Randal D.
Recently, national attention has turned to the need for increased financial education, particularly for low-income populations. Incarcerated individuals represent a growing low-income group with unique needs that could likely benefit from financial education. However, few studies have examined the specific financial education needs of inmates,…
Cihak, Martin; Mare, Davide S.; Melecky, Martin
Policy makers and regulators have devoted much effort to reforms aimed at improving financial stability in response to lessons from the 2007-09 crisis. At the same time, much effort has also been directed to promoting greater financial inclusion as an enabler of equal opportunity. To some extent, these endeavors have been exerted in silos, neglecting the possibility that financial inclusio...
Full Text Available Financial information has, indisputably, an important effect in economics. To form an effective capital market, financial information must be reliable and accurate. Misleading financial information always has a negative impact on economic decision taken by users. It is known that financial information as the cornerstone of financial markets, can improve economic performance in several ways. Nowadays we are facing economic crisis due to irregularities of presentation of financial statements to users. Misunderstandings cause economic recession. Detection of fraudulent financial information, is an important issue facing the auditing profession. Currently, bankruptcy of companies around the world, leaves millions of people without jobs, this is caused by financial information which is manipulated by companies. The purpose of this paper is to analyze the effects of errors and manipulation committed in the financial information sector on the real economy. Also one of the purposes of this paper is to analyze error and fraud in financial statements how it effects the real economy and the reasons for committing fraud in financial statements. Also, several suggestions are included in this study about actions that can be taken to prevent errors and manipulation in financial information.
Mishkin, Frederic S.
This lecture outlines an asymmetric information theory of financial instability which describes the fundamental forces which harm both the financial sector and economic activity. This asymmetric information framework is then used to demonstrate that although international capital movements and financial volatility can play a role in destabilizing the economy is frequently overstated.
Britt, Sonya L.; Canale, Anthony; Fernatt, Fred; Stutz, Kristen; Tibbetts, Racquel
This study had two distinct purposes. First, to determine the predictors of financial stress among college students who sought free peer-based financial counseling from a large Midwestern university (N = 675). Secondly, to determine the effectiveness of the particular financial counseling center from a subsample of those who sought help (N = 97).…
Jarecke, Jodi; Taylor, Edward W.; Hira, Tahira K.
Exploring the pedagogical approaches of four women's financial literacy education programs, this chapter provides an overview of trends and needs in financial education for women and offers pedagogical strategies for teaching women about finance.
Although textbooks present corporate finance using a topical approach, good financial management requires an organic approach that integrates the various assignments financial managers confront every day. Breaking the tasks into meaningful subcategories, the current article offers one approach.
Leibenhaut, Mark H
A basic knowledge of financial accounting can help radiologists analyze business opportunities and examine the potential impacts of new technology or predict the adverse consequences of new competitors entering their service area. The income statement, balance sheet, and cash flow statement are the three basic financial statements that document the current financial position of the radiology practice and allow managers to monitor the ongoing financial operations of the enterprise. Pro forma, or hypothetical, financial statements can be generated to predict the financial impact of specific business decisions or investments on the profitability of the practice. Sensitivity analysis, or what-if scenarios, can be performed to determine the potential impact of changing key revenue, investment, operating cost or financial assumptions. By viewing radiology as both a profession and a business, radiologists can optimize their use of scarce economic resources and maximize the return on their financial investments. PMID:17411807
Chinese leaders and scholars suggest reforms to strengthen the international financial system As the international financial crisis plunges many countries into economic turmoil, China’s relatively stable economic growth is reassuring to the
Guiso, Luigi; Sapienza, Paola; Zingales, Luigi
We study the effects of differences in local financial development within an integrated financial market. We construct a new indicator of financial development by estimating a regional effect on the probability that, ceteris paribus, a household is shut off from the credit market. By using this indicator, we find that financial development enhances the probability an individual starts his own business, favors entry of new firms, increases competition, and promotes growth. As predicted by theo...
Croatia focuses much of its modernization efforts on meeting the requirements for accession to the European Union (EU), which include public financial management (PFM). In this context, the relevance of this Country Financial Accountability Assessment (CFAA) is evident. It assesses the legal framework, institutional capacity, and practices, for the core financial control processes, such as budgeting, treasury, and cash management, accounting, financial reporting, internal control and audit, a...
Inter-American Development Bank (IDB)
This Financial Market Development Strategy (GN-1948-3) has been prepared to assist IDB staff in the process of supporting financial market development, as financial markets provide the appropriate environment for capital mobilization to profitable investment opportunities. The IDB must strive for balance with a continued concentration on the establishment of efficient and effective, safe and sound banking systems, while pursuing opportunities to motivate nonbank financial markets, institution...
Mirakhor, Abbas; Iqbal, Zamir
Enhancing financial inclusion or access to finance can make critical contributions to the economic development. Conventional mechanisms such as micro-finance, small-medium-enterprises (SME), and micro-insurance to enhance financial inclusion have been partially successful in enhancing the access and are not without challenges. Islamic finance, based on the concept of risk-sharing offers set of financial instruments promoting risk-sharing rather than risk-transfer in the financial system. In a...
A financial crisis is a disturbance to financial markets that disrupts the markets capacity to allocate capital – financial intermediation and hence investment comes to a halt. The Sub Prime mortgage crisis originated in U.S in early 2008 and transmitted to India and other Emerging Market Economies through various channels. Macro economic variables like growth, employment and prices all were affected badly. This paper attempts an analysis of causes of global financial crisis a...
Johansson, Anders C.; Wang, Xun
This paper analyzes the relationship between financial repression and structural change. We present a simple theoretical model of structural transformation in which the impact of financial repression on unbalanced growth is studied. The model suggests that governments may choose to repress the financial sector to allow for continued development of the industry sector while inhibiting growth in the domestic service sector. We then present empirical evidence of financial repression having a sig...
This paper presents a simple two-period model of the innovationof financial asset by commission-revenue maximization exchange. The economic agents with meanvariance preferences take transaction costs in the process of trading the financial asset, the buying per-unit commission of the futures contract and the selling per-unit commission of the financial asset. The commission-revenue maximization exchange innovates financial asset.
Financial and Payment System Department
Public disclosure by financial institutions has long provided information about business performance through the publication of financial statements. In recent years, however, a number of financial institutions have come to focus on disclosure of a wider range of information, including their management policies. This is partly attributable to the expansion of derivatives transactions, which has made risk management techniques increasingly important in the management of financial institutions,...
The thesis delivers suggestions to improve procedures in a financial statement from particular company according to an analysis of individual financial statement pieces and tests of a financial statement report. The first part of the literature search is devoted to an analysis of preparing pieces of the Financial Statement, necessary to carry out at the end of any accounting year to avoid distorting in accounting. After counting all issues, the accounting entity is to close all accounting...
Guiso, Luigi; Jappelli, Tullio
In this paper we focus on poor financial literacy as one potential factor explaining lack of portfolio diversification. We use the 2007 Unicredit Customers' Survey, which has indicators of portfolio choice, financial literacy and many demographic characteristics of investors. We first propose test-based indicators of financial literacy and document the extent of portfolio under-diversification. We find that measures of financial literacy are strongly correlated with the degree of portfolio di...
Full Text Available This paper explores how well equipped today’s households are to make complex financial decisions in the face of often high-cost and high-risk financial instruments. Specifically we focus on financial literacy. Most importantly, we describe the geography of financial literacy, i.e., how financial literacy is distributed across the fifty US states. We describe the correlation of financial literacy and some important aggregate variables, such as state-level poverty rates. Finally, we examine the extent to which differences in financial literacy can be explained by states’ demographic and economic characteristics. To assess financial literacy, five questions were added to the 2009 National Financial Capability Study, covering fundamental concepts of economics and finance encountered in everyday life: simple calculations about interest rates and inflation, the workings of risk diversification, the relationship between bond prices and interest rates, and the relationship between interest payments and maturity in mortgages. We constructed an index of financial literacy based on the number of correct answers provided by each respondent to the five financial literacy questions. The financial literacy index reveals wide variation in financial literacy across states. Much of the variation is attributable to differences in the demographic makeup of the states; however, a handful of states have either higher or lower levels of financial literacy than is explained by demographics alone. Also, there is a significant correlation between the financial literacy of a state and that state’s poverty level. The findings indicate directions for policy makers and practitioners interested in targeting areas where financial literacy is low.
Cristina S. Rodrigues; Vieira, Filipa Dionísio; Amaral, António Manuel Pereira da Silva; Martins, F. Vitorino
The current financial crisis highlights real problems profoundly related to the level of financial knowledge. Some studies suggest that many individuals, including small business owners, do not have adequate financial skills to be able to handle their finances. The term "financial literacy" summarizes the set of knowledge, skills and attitudes necessary to enable recognition and understanding of the foundations of personal finance. Informed and literate individuals are able to make responsibl...
Stability in financial institutions and in financial markets are closely intertwined. Banks and other financial institutions need liquid markets through which to conduct risk management. And markets need the back-up liquidity lines provided by financial institutions. Market liquidity depends not only on objective, exogenous factors, but also on endogenous market dynamics. Central banks responsible for systemic stability need to consider how far their traditional responsibility for the health ...
Roberto Chang; Andres Velasco
We present a simple model that can account for the main features of recent financial crises in emerging markets. The international illiquidity of the domestic financial system is at the center of the problem. Illiquid banks are a necessary and a sufficient condition for financial crises to occur. Domestic financial liberalization and capital flows from abroad (especially if short term) can aggravate the illiquidity of banks and increase their vulnerability to exogenous shocks and shifts in ex...
The objective of the Financial Management – Energy Specialty Curriculum is to prepare officers for business, financial, and analysis positions within the DoN and DoD and also to provide an advanced education in energy-related problem solving. Financial Managers assist the DoN's decision-making processes at all levels by providing accurate, timely and relevant information and analysis. They are concerned with the optimal allocation of human, physical, financial, and energy resources to ...
Lacaria, Chris J.
The scope of this paper is to discuss the financial management of a construction contractor. This paper attempts to approach this subject in a logical and systematic way. It communicates the importance of financial analysis and planning along with cash planning and profit planning. This report is not intended to be an all inclusive discussion of financial management in construction. Contractor's Financial Management is an extremely important subject. It has been told ...
Anca D.B., DODESCU
Full Text Available According to the European Union point of view, the fundamental principle of state aid is to ensure that inside the single market, competition is not distorted. In this context, by exception state aid can be justified when they contribute to achieving EU's social and economic goals. This may take place when market forces obstruct the achieving of the proposed objectives or permit their achieving on unacceptable long terms and costs. This article is structured in four parts, focusing on European Union's vision regarding state aid measures. The first part of the article refers to the general context of state aid in EU. The second part of the article tries to define this concept according to European Commission point of view and also studies the state aid information provided by the EU, through its benchmarking instrument regarding state aid expenditure called State Aid Scoreboard. The third part of the article mainly presents the EU state aid evolution during the period 2007 - 2012 and establishes a methodological point of view in order to classify and divide state aid in two main categories: non-crisis state aid and crisis state aid, with the purpose of avoiding the distortion trends regarding state aid expenditure granted for the financial sector. This part of the article also presents different types of state aid at EU27 level and granted by the selected member states (Romania, Hungary, Bulgaria and Germany between 2007 and 2012 and also analysis horizontal aid, sectorial aid and state aid during the economic crisis 2008 - 2012, referring to recapitalization and asset relief measures and guarantees and liquidity measures. The last part of the article presents the conclusions and also states certain recommendations regarding EU state aid practices, based on the results obtained.
The Financial System Assessment (FSA) is based on the work of the joint International Monetary Fund (IMF)-World Bank Financial Sector Assessment Program (FSAP) missions to FYR Macedonia in May and June 2003. Development of the FYR Macedonia's financial system shows the marks of the country's turbulent first decade of independence. The FSAP recommendations aimed at two levels. At the genera...
Conneely, James F.
Strong financial management is a strategy for strategic planning success in student affairs. It is crucial that student affairs professionals understand the necessity of linking their strategic planning with their financial management processes. An effective strategic planner needs strong financial management skills to implement the plan over…
T. Beck; S. Claessens; S.L. Schmukler
Financial globalization, the integration of countries with the global financial system, has increased substantially since the 1970s and particularly with more force since the 1990s. Financial globalization has shown to pose both benefits and risks to developed countries and developing countries alik
This note outlines a short, to medium-term reform agenda to foster sound financial sector development. Mexico needs to broaden and deepen its financial system without compromising the financial stability gains of the last decade. Much more private investment is needed to transform the economy to boost productivity, and despite improvements in recent years, many households and firms still l...
Israelsen, Clark; Feuz, Dillon
This fact sheet is a brief overview of the financial statements and budgeting tools that are likely a part of most farm financial record keeping systems. Links are provided for additional detail on any one financial report or topic. A brief description of a Balance Sheet, a Profit Loss Statement or Income Statement, Statement of Cash Flows and Enterprise Analysis is included.
This Country Financial Accountability Assessment (CFAA) examines the financial management in both the public and private sectors, aimed as an evaluation, not an audit, and, identifies financial risks within current practices, and procedures in Senegal. It does not however, intend to suggest an accurate, final allocation of public resources, though it facilitates implementation of action pl...
Chinese Premier Wen Jiabao visits AIDS orphans in Shangcai County,central China’s Henan Province,on November 30,a day before the 20th World AIDS Day. The region of Shangcai has the highest concentration of people living with HIV/AIDS in China. The Chinese Government has released a package of policies that offer people living with HIV/AIDS free medicine,health checks and consultations,as well as free schooling to AIDS orphans.
The informal sector is comprised of small-scale businesses engaged in a wide range of economic activities on the margins of the formal or mainstream economy. Their operations are typically unlicensed and unregulated by commercial authorities. Informal enterprises are operated by people of widely differing ages, social backgrounds, education levels, vocational training, and work experience who engage in very diverse production strategies and markets, and operate in differing physical, social, and political environments. Therefore, to be effective, HIV/AIDS interventions should not treat the sector as homogeneous. Informal enterprise operators tend to be rather youthful and therefore sexually active. Other HIV/AIDS risk factors for the informal sector include the poverty associated with many operators, their families, and employees; lack of access to education and skills training; and the sector's small labor base. Financial and physical capital, as well as informal markets, are discussed. Support for the sector against HIV/AIDS should include both the prevention of HIV infection and the care of people who are already infected. PMID:12295125
Huang, Wei-Qiang; Zhuang, Xin-Tian; Yao, Shuang; Uryasev, Stan
This study considers the effects of the financial institutions' local topology structure in the financial network on their systemic risk contribution using data from the Chinese stock market. We first measure the systemic risk contribution with the Conditional Value-at-Risk (CoVaR) which is estimated by applying dynamic conditional correlation multivariate GARCH model (DCC-MVGARCH). Financial networks are constructed from dynamic conditional correlations (DCC) with graph filtering method of minimum spanning trees (MSTs). Then we investigate dynamics of systemic risk contributions of financial institution. Also we study dynamics of financial institution's local topology structure in the financial network. Finally, we analyze the quantitative relationships between the local topology structure and systemic risk contribution with panel data regression analysis. We find that financial institutions with greater node strength, larger node betweenness centrality, larger node closeness centrality and larger node clustering coefficient tend to be associated with larger systemic risk contributions.
Considering the current complexity of financial markets and of financial instruments and services, financial education is part of population’s financial literacy and it ranks as paramount factor in the complex for the financial markets development.
A frequent complication of the acquired immunodeficiency syndrome (AIDS) is AIDS dementia complex (ADC). The authors evaluated seven patients with AIDS (aged 28-55 years, all male) for ADC by psychiatric evaluation, neuropsychological testing, CT scanning, and IMP-SPECT. Six of seven patients exhibited cognitive or behavioral abnormalities. Neuropsychological testing showed general deficits but no cases of explicit dementia. SPECT showed marked abnormalities in two cases: posterior temporal-parietal diminution of tracer uptake in one case (posterior/anterior=0.81) and marked right/left subcortical asymmetry (1.17) in the other. In three additional cases there was asymmetric tracer uptake in the subcortical and parietal regions. CT findings were normal in all seven cases. The authors conclude that functional imaging with the use of IMP-SPECT may be a useful method to follow ADC progression and response to therapy
Koshy, L M
The Indian Health Organization projected the number of deaths per day due to AIDS by the year 2000 at 10,000. An interdisciplinary international conference was held in New Delhi to draft an international law governing the issues related to AIDS. Human freedom and public health policies are the most affected by this disease. In the absence of an international AIDS law, judicial verdicts set precedents and could have serious ramifications. A participant from the John Marshall Law School, Chicago, suggested that instead of making new laws, the existing ones from the colonial past should be repealed. This includes Section 377 of the Indian Penal Code, which provides criminal sanctions against those who indulge in unnatural relations with man, woman, or animal. Penalizing homosexuality will only perpetuate clandestine relations and spread the virus into their families. Another participant seconded this motion stating that even a sex worker must be protected from abuse and indignity. The National AIDS Control Organization responded to the criticism that the government had not utilized all the World Bank funds allocated for anti-AIDS projects. The trends of the epidemic were the most important indicators not just the numbers. In Manipur and Mizoram, infection was almost entirely due to injecting drug use. The Saheli project undertaken in the red-light areas of Bombay encompassed brothel owners and prostitutes, which could be replicated in other areas. Because existing government policies were focusing on prevention, there was no protection of an HIV-infected individual's privacy, one participant from Madras stated. The confidentiality issue was also echoed by a US participant. The New Delhi Declaration and Action Plan on HIV/AIDS was also discussed. It forbids discrimination in employment, education, housing, health care, social security, travel, and marital and reproductive rights. Providing sterile needles and ensuring the safety of the blood supply were other concerns
Full Text Available The analysis based on the balance sheet tries to identify the state of equilibrium (disequilibrium that exists in a company. The easiest way to determine the state of equilibrium is by looking at the balance sheet and at the information it offers. Because in the balance sheet there are elements that do not reflect their real value, the one established on the market, they must be readjusted, and those elements which are not related to the ordinary operating activities must be eliminated. The diagnosis of financial equilibrium takes into account 2 components: financing sources (ownership equity, loaned, temporarily attracted. An efficient financial equilibrium must respect 2 fundamental requirements: permanent sources represented by ownership equity and loans for more than 1 year should finance permanent needs, and temporary resources should finance the operating cycle.
Hull Kristensen, Peer
This paper is concerned to show how the Danish political elite interpreted and responded to the consequences of the 2008 financial crisis for the Danish economy. In particular, the paper describes how this interpretive construction focused primarily on three features of the Danish context...... to the exclusion of other perspectives; the first was an emphasis on the problems of the financial sector, of interest rates and state finances; the second was that Danish productivity increases were falling behind other comparable countries and part of the solution required new strategies towards labour...... and unemployment benefits; thirdly, the adverse effects of the crisis were causing an increase in government expenditure and a decline in government revenues which was rapidly becoming unsustainable. As a consequence, the Danish elite fell into the broader interpretation of the crisis embedded in the dominant view...
The aim of this work is to compare and contrast different ways of modeling financial shocks and financial intermediaries in the Dynamic Stochastic General Equilibrium models (DSGE models) and to discuss the empirical evidence on the importance of modeling financial sector and financial shocks in the economy. The analysis is based on four papers on the matter Jerman and Quiadrini (2009),Christiano, Motto and Rostagno (2006), Goodfriend and McCallum (2007), and Gertler and Kiyotaki (2009)
This article confronts selected theoretical concepts of financial crisis, financial stability and financial regulation with the real situation at the world economic scene. The author´s views are mainly based on the results of a research group at the Institute of Administration and Finance in Prague (IAF), headed by Antonin Kubicek. This group has been analysing selected partial problems connected with the phenomena of financial markets´ regulation since 2002 in the framework of two grants (20...
... recognized experts in the fields of economics, financial institutions and markets, statistical analysis, financial markets analysis, econometrics, applied sciences, risk management, data, information standards... Financial Research Advisory Committee AGENCY: Office of Financial Research, Treasury. ACTION: Notice...
James, Deborah; Killick, Evan
The article considers the kinds of responsibilities anthropologists might have when working on immigration and asylum matters, particularly in the light of recent 'reforms' to the funding of legal aid in the UK. The article focuses on a single case study in its context, exploring an interaction between an immigrant applicant and a lawyer/case worker in a not-for-profit Law Centre. The paper shows how case workers find themselves caught in the middle, squeezed between increasing financial pres...
Maule, A. J.; Maule, Simon
Two prescriptive approaches have evolved to aid human decision making: just in time interventions that provide support as a decision is being made; and just in case interventions that educate people about future events that they may encounter so that they are better prepared to make an informed decision when these events occur. We review research on these two approaches developed in the context of supporting everyday decisions such as choosing an apartment, a financial product or a medical pr...
International Finance Corporation
International Finance Corporation (IFC or the Corporation) is the largest global development institution focused on the private sector in developing countries. The accounting and reporting policies of IFC conform to accounting principles generally accepted in the United States (GAAP). IFC’s accounting policies are discussed in more detail in Section VI, Critical Accounting Policies, and in Note A to IFC’s Consolidated Financial Statements as of and for the year ended Jun...
Pillai, Rajasekharan; Carlo, Rozita; D’souza, Rachel
Frugal expenditure habit is no less important than the basic illiteracies such as reading, writing and arithmetic. Present day youth are seemed to show callous expenditure, being independent, competitive and free-of-behaviour, that eventually lead them perpetually in debt. The present study explores the magnitude of financial literacy among youth focusing on expenditure and saving trends. It is understood that the youth are unwilling to get out of their comfort zone and reckless expenditure b...
Lucy F. Ackert; Church, Bryan K.; Richard Deaves
Psychologists and economists hold vastly different views about human behavior. Psychologists contend that economists' models bear little relation to actual behavior. This view is supported by a large body of psychological research that shows that emotional state can significantly affect decision making. ; Economists, on the other hand, argue that psychological studies have no theoretical basis and offer little empirical evidence about people's decision-making processes. The reigning financial...
This textbook on Basic Financial Accounting is targeted students in the economics studies at universities and business colleges having an introductory subject in the external dimension of the company's economic reporting, including bookkeeping, etc. The book includes the following subjects......: business entities, the transformation process, types of businesses, stakeholders, legislation, the annual report, the VAT system, double-entry bookkeeping, inventories, and year-end cast flow analysis....
Daniel A. Rascher; Brown, Matthew T; Mark S. Nagel; Chad D. McEvoy
One of the absolutes in professional sports, and a reason for its success, is the uncertainty of the outcome of individual games, seasons, and championships. This uncertainty impacts a teamâ€™s attendance and financial operation. While leagues cultivate uncertainty through various rules such as salary caps, revenue sharing, and the amateur draft, individual franchises have to manage the result of variability in annual revenues. Not only is this due to the parity in a league but also from inju...
Seibel, Hans Dieter
Informal financial institutions (IFIs), among them the ubiquitous rotating savings and credit associations, are of ancient origin. Owned and self-managed by local people, poor and non-poor, they are self-help organizations which mobilize their own resources, cover their costs and finance their growth from their profits. With the expansion of the money economy, they have spread into new areas and grown in numbers, size and diversity; but ultimately, most have remained restricted in size, outre...
Menzies, Gordon Douglas; Donald Hay, Professor David Vines
Following the 1997 Asian Crisis, a number of economies have been burdened with so-called Twin Crises, facing both vulnerable exchange rates and a distressed financial sector. The three papers in this thesis examine the resolution of a twin crisis in one such country - Indonesia. In debt overhang and exchange rate collapse, I adopt the simplest representation of the economy and the Asian crisis. The model is a modified Hecksher-Ohlin framework with labour as the sole domestic f...
Mihai, Oana; Florentina MOISESCU
From a company’s perspective, there seem to be two underlying forces driving company interest in various kinds of environmental performance data that might be considered varieties of accounting. The first is a growing demand from company stakeholders, based on an increased interest in environmental issues. Interested stakeholders are not only the consumers, but also industrial customers, financial institutions and others. For this reason, more and more companies are producing environmental re...
Tetyana Kaminska; Olena Kolesnikova
Active market economy involves various risks for market players. A particular place due to the specifics and significance within the risk classification system belongs to financial risks. In legislative instruments the issue of risks is considered superficially. Accounting Regulation does not contain any provisions on risks accounting and those of their consequences, as well as any clarification on providing relevant information to managers at different levels and other stakeholders. However,...
Joshua Aizenman; Andrew Powell
Following the Tequila period, its after-effects in Latin America and recent events in South East Asia, the effect of volatility on emerging market economies has become an important topic of research with the domestic financial intermediation process being advanced as one of the most important transmission mechanisms. At the same time there has been continued interest in issues related to imperfect information and rationing in credit markets. In this paper, we consider an economy where risk ne...
Vitting Andersen, Jørgen; Vrontos, Ioannis; Dellaportas, Petros; Galam, Serge
Since the attribution of the Nobel prize in 2002 to Kahneman for prospect theory, behavioral finance has become an increasingly important subfield of finance. However the main parts of behavioral finance, prospect theory included, understand financial markets through individual investment behavior. Behavioral finance thereby ignores any interaction between participants. We introduce a socio-financial model (Vitting Andersen J. and Nowak A., An Introduction to Socio-Finance (Springer, Berlin) 2013) that studies the impact of communication on the pricing in financial markets. Considering the simplest possible case where each market participant has either a positive (bullish) or negative (bearish) sentiment with respect to the market, we model the evolution of the sentiment in the population due to communication in subgroups of different sizes. Nonlinear feedback effects between the market performance and changes in sentiments are taken into account by assuming that the market performance is dependent on changes in sentiments (e.g., a large sudden positive change in bullishness would lead to more buying). The market performance in turn has an impact on the sentiment through the transition probabilities to change an opinion in a group of a given size. The idea is that if for example the market has observed a recent downturn, it will be easier for even a bearish minority to convince a bullish majority to change opinion compared to the case where the meeting takes place in a bullish upturn of the market. Within the framework of our proposed model, financial markets stylized facts such as volatility clustering and extreme events may be perceived as arising due to abrupt sentiment changes via ongoing communication of the market participants. The model introduces a new volatility measure which is apt of capturing volatility clustering and from maximum-likelihood analysis we are able to apply the model to real data and give additional long term insight into where a market is
Nielsen, Jens Brehm; Nielsen, Jakob; Jensen, Bjørn Sand;
Modern digital hearing aids require and offer a great level of personalization. Today, this personalization is not performed based directly on what the user actually perceives, but on a hearing-care professional’s interpretation of what the user explains about what is perceived. In this paper, an...... interactive personalization system based on Gaussian process regression and active learning is proposed, which personalize the hearing aids based directly on what the user perceives. Preliminary results demonstrate a significant difference between a truly personalized setting obtained with the proposed system...
Szymkat, Maciej; Ravn, Ole
Current developments in the field of Computer Aided Control Engineering (CACE) have a visible impact on the design methodologies and the structure of the software tools supporting them. Today control engineers has at their disposal libraries, packages or programming environments that may be speci......Current developments in the field of Computer Aided Control Engineering (CACE) have a visible impact on the design methodologies and the structure of the software tools supporting them. Today control engineers has at their disposal libraries, packages or programming environments that may...
Foreign aid looms large in the public discourse; and international development assistance remains squarely on most policy agendas concerned with growth, poverty and inequality in Africa and elsewhere in the developing world. The present review takes a retrospective look at how foreign aid has...... been effective in furthering economic growth and development is discussed in some detail. I add perspective and identify some critical unresolved issues. I finally turn to the current development debate and discuss some key concerns, which I believe should be kept in mind in formulating any agenda for...
European Commission adopted recently two proposals of Directives designed to pave the way for a Community approach to the safety of nuclear power plants and the processing of radioactive waste. Nuclear safety cannot be guaranteed without making available adequate financial resources. With regard, in particular, to the decommissioning of nuclear facilities, the Directive defines the Community rules for the establishment, management and use of decommissioning funds allocated to a body with legal personality separate from that of the nuclear operator. In order to comply with the acquis communautaire, Romanian Government issued the Emergency Ordinance no. 11/2003 which set up the National Agency for Radioactive Waste (ANDRAD) and soon will be established the financial mechanism for raising the necessary funds. Societatea Nationala 'Nuclearelectrica' S.A. operates, through one of its branches, Cernavoda NPP Unit 1 and has to prepare its decommissioning strategy and to analyze the options to assure the financing for covering the future costs. The purpose of this paper is to clarify the financial systems' mechanisms to the satisfaction of the nuclear operator obligations, according to the disbursement schedule foreseen by decommissioning projects . The availability of cash to pay for all the decommissioning expenditure must be foreseen by setting up assets and establishing a suitable financing plan. The different practices of assets management shall be presented in this paper on the basis of the international experience. Some calculation samples shall be given as an illustration. (author)
In this paper we shall prove that the plane of financial events, introduced and applied to financial problems by the author himself (see ,  and ) can be considered as a fibration in two different ways. The first one, the natural one, reveals itself to be isomorphic to the tangent- bundle of the real line, when the last one is considered as a differentiable manifold in the natural way; the second one is a fibration induced by the status of compound interest capitalization at a given rate i in the interval ] - 1, \\rightarrow [. Moreover, in the paper we define on the first fibration an affine connection, also in this case induced by the status of compound interest at a given rate i. The final goal of this paper is the awareness that all the effects determined by the status of compound interest are nothing but the consequences of the fact that the space of financial events is a fibration endowed with a particular affine connection, so they are consequences of purely geometric properties, at last, depend...
International crisis The global financial crisis can be divided into several stages:From August 2008 to the bankruptcy of Lehman Brothers in September 2008 was the U.S.sub-prime mortgage crisis;after September 2008 it became the intemational financial crisis;and as of October 2009 when Greek sovereign debt crisis broke out,the crisis became a sovereign debt crisis.The question is:Is the European currency crisis now in a new stage? And what comes next?We think the present U.S.and European sovereign debt crisis is the aftershock of the U.S.sub-prime crisis,and also the pre-shock that will bring future international financial market more turmoil and push the world economy into another recession.Recently Standard & Poor's placed the European Union on its watch list,and some countries are preparing for the EU to balkanize,so we must be prepared for this crisis.As for the euro crisis,I think we need to decide whether to come to the rescue or not.In rescuing the EU,there are three methods:The European Central Bank issues banknotes to rescue the euro;the euro zone issues euro bonds;or it creates a Europe rescue fund.However,these methods are all difficult to carry out and may trigger inflation.
EDF's sales in the first quarter of 2014 were euro 21.2 billion, down 3.9% from the first quarter of 2013. At constant scope and exchange rates, sales were down 4.2% due to mild weather conditions, which impacted sales of electricity in France, gas sales abroad and trading activities in Europe. UK sales were nonetheless sustained by B2B sales due to higher realised wholesale market prices. In Italy, sales growth was driven by an increase in electricity volumes sold. The first quarter of 2014 also saw the strengthening of the Group's financial structure with the second phase of its multi-annual hybrid funding programme (nearly euro 4 billion equivalent) as well as the issue of two 100-year bonds in dollars and sterling aimed at significantly lengthening average debt maturity. 2014 outlook and 2014-2018 vision: - EDF Group has confirmed its financial objectives for 2014; - Group EBITDA excluding Edison: organic growth of at least 3%; - Edison EBITDA: recurring EBITDA target of euro 1 billion and at least euro 600 million in 2014 before effects of gas contract re-negotiations; - Net financial debt / EBITDA: between 2x and 2.5x; - Pay-out ratio of net income excluding non-recurring items post-hybrid: 55% to 65%. The Group has reaffirmed its goal of achieving positive cash flow after dividends, excluding Linky, in 2018
To evaluate whether the investments of e-logistics systems may increase financial risks, models of Bayesian networks are constructed in this study with the mechanism of structural learning and parameter learning. Empirical findings from the transport and logistics sectors suggest that the e-logistics investments generally do not increase the financial risks of companies except the implementation of computer aided picking systems and radio frequency identification. Meanwhile, only the investme...