WorldWideScience

Sample records for financial peak daily

  1. Daily peak electricity load forecasting in South Africa using a ...

    African Journals Online (AJOL)

    major source of variation in peak demand forecasting and the inclusion of temperature has a significant ... This definition of electrical demand has its weaknesses. Electrical ..... The coefficient of t is positive, showing a positive linear trend.

  2. Twin-Peak Financial Regulatory Regime in China: A Desirability Analysis

    DEFF Research Database (Denmark)

    Hu, Chenchen

    2015-01-01

    speed of the expansion of shadow banking activities. The banking activity expansion and the emergence of financial conglomerates have been challenging the effectiveness of the current institutional regulatory structure: the fragmented "One Bank and Three Commissions" system and the "Joint Meeting...... as a "deep context". By drawing on the Australia experience of the twin-peak reform and discussing the new ecology of the Chinese financial markets, the article attempts to answer the question of the desirability of a twin-peak regulatory regime in China....

  3. 75 FR 42399 - Orders Finding That the PJM WH Real Time Peak Daily Contract, PJM WH Real Time Off-Peak Daily...

    Science.gov (United States)

    2010-07-21

    ... affirmative order signals the effectiveness of the Commission's regulatory authorities over an ECM with..., Federal Energy Regulatory Commission (``FERC''), Electric Power Supply Association (``EPSA''), Financial Institutions Energy Group (``FIEG''), Edison Electric Institute (``EEI''), ICE and Public Utility Commission...

  4. Daily Peak Load Forecasting by Structured Representation on Genetic Algorithms for Non-linear Function Fitting

    Science.gov (United States)

    Yukita, Kazuto; Kato, Shinya; Goto, Yasuyuki; Ichiyanagi, Katsuhiro; Kawashima, Yasuhiro

    Recently, the independent power producers (IPPs) and the distributed power generations (DGs) are increase on by the electric power system with the power system deregulation. And the power system becomes more complicated. It is necessary to carry out the electric power demand forecasting in order to the power system is operated for the high economical and the high-efficient. For the improvement of electric power demand forecasting, many methods, such as the methods using fuzzy theory, neural network and SDP data, are proposed. In this paper, we proposed the method using STROGANOFF (STructured Re-presentation on Genetic Algorithms for Non-linear Function Fitting) that approximate the value of predictive to the future data by the past data is obtained. Also, the weather condition was considered for the forecasting that is improvement, and the daily peak load forecasting in next day on Chubu district in Japan was carried out, and the effectiveness of proposed method was examined.

  5. Unexpected Daily Peaks in a Laboratory Simulation Experiment of Radon Signals

    Science.gov (United States)

    Bezaly, Orr Rose; Steinitz, Gideon; Israelevich, Peter; Kotlarsky, Peter; Piatibratova, Oksana; Malik, Uri; Asperil, Tal; Marco, Shmuel

    2017-04-01

    Radon is a noble radioactive gas of special interest in earth sciences due to both its unique chemical and physical properties and its natural abundance. The most stable isotope of radon, 222Rn, has a half-life of 3.823 days and is the only gas-phase atom in the 238U decay series. Radon could be considered as a possible tracer for tectonic and volcanic processes, yet the physical mechanisms that influence radon emanation from rock and transport are unclear. Our team strives to observe and analyse radon signals in monitored environments. Simulation of radon signals and investigation of their characteristics in laboratory experiments are conducted using radon in an enclosed chamber, termed "Enhanced Confined Mode" (ECM). An ECM experiment will be described; its arrangement comprises of two 222Rn sources of activity ˜105Bq each. The sources are connected in parallel via tube to a horizontal stainless steel cylinder (˜570cm3) that contains air at atmospheric pressure. Direct count rate measurements were performed using a NaI (2x2") gamma-ray scintillation detector aligned along the cylinder's axis, at one minute resolution, for over 60 days. Radon is supplied into the ECM chamber by diffusion and it disintegrates as it undergoes radioactive decay. A priori, a steady state of diffusion and radioactive decay rates is expected. However, our results show evident deviations from this expected steady state, namely fluctuations that are significant relative to the uncertainty in measurements. Predominant daily peaks characterise the data. Signal processing and analysis of these daily peaks will be presented.

  6. 75 FR 38478 - Orders Finding That the Mid-C Financial Peak Daily Contract and Mid-C Financial Off-Peak Daily...

    Science.gov (United States)

    2010-07-02

    ... does not meet the material price reference or material liquidity criteria for SPDC determination. These... electricity. FIEG describes itself as an association of investment and commercial banks who are active... traded or executed on the electronic trading facility. Material liquidity--the extent to which the...

  7. Daily changes of peak expiratory flow and respiratory symptom occurrence around a soy processing factory.

    Science.gov (United States)

    Heederik, Dick; Doekes, Gert; van Strien, Rob; Brunekreef, Bert

    2014-01-01

    To evaluate sensitization and acute respiratory health effects in inhabitants living in the vicinity of a factory producing soy oil. Two panels of potential responders were created on the basis of a response to a short screening questionnaire sent to random samples of 1,000 exposed and 1,000 non-exposed individuals living around the factory and a control area. Individuals responding to the questionnaire were invited for a medical evaluation, including a respiratory symptom questionnaire and skin prick testing, for a panel of common allergens and a soy allergen extract. This resulted in 53 atopic and/or asthmatic inhabitants from the area surrounding the factory and 30 comparable control subjects. In these subjects, morning and evening Peak Expiratory Flow (PEF), respiratory symptoms and medication use were recorded daily during a 10-week period in the autumn. At the same time, soy allergen and endotoxin concentrations were determined in airborne dust in the exposed and the control area. The wind direction relative to the location of a subjects' house and the factory was used to determine whether an individual was exposed on a particular day. Only few of the atopic subjects were sensitized to soy. PEF showed a decrease, respiratory symptoms and bronchodilator use, an increase among soy sensitized subjects after having been downwind from the factory. Airborne soy allergen was found more frequently in the area surrounding the factory and levels were higher than in the control area. Highest levels were found on the factory premises. Only a weak association was found with wind direction. Airborne endotoxin concentrations did not show a consistent pattern with distance, but levels were clearly higher on the factory premises. Sensitization to soy allergen was not increased among the population sample living in the vicinity of the factory. Soy sensitized individuals living in the surroundings of the factory reported more respiratory symptoms, used bronchodilators more

  8. Indirect effect of financial strain on daily cortisol output through daily negative to positive affect index in the Coronary Artery Risk Development in Young Adults Study.

    Science.gov (United States)

    Puterman, Eli; Haritatos, Jana; Adler, Nancy E; Sidney, Steve; Schwartz, Joseph E; Epel, Elissa S

    2013-12-01

    Daily affect is important to health and has been linked to cortisol. The combination of high negative affect and low positive affect may have a bigger impact on increasing HPA axis activity than either positive or negative affect alone. Financial strain may both dampen positive affect as well as increase negative affect, and thus provides an excellent context for understanding the associations between daily affect and cortisol. Using random effects mixed modeling with maximum likelihood estimation, we examined the relationship between self-reported financial strain and estimated mean daily cortisol level (latent cortisol variable), based on six salivary cortisol assessments throughout the day, and whether this relationship was mediated by greater daily negative to positive affect index measured concurrently in a sample of 776 Coronary Artery Risk Development in Young Adults (CARDIA) Study participants. The analysis revealed that while no total direct effect existed for financial strain on cortisol, there was a significant indirect effect of high negative affect to low positive affect, linking financial strain to elevated cortisol. In this sample, the effects of financial strain on cortisol through either positive affect or negative affect alone were not significant. A combined affect index may be a more sensitive and powerful measure than either negative or positive affect alone, tapping the burden of chronic financial strain, and its effects on biology.

  9. Daily and seasonal variation of traffic related aerosol pollution in Thessaloniki, Greece, during the financial crisis

    Science.gov (United States)

    Vouitsis, Ilias; Amanatidis, Stavros; Ntziachristos, Leonidas; Kelessis, Apostolos; Petrakakis, Maximos; Stamos, Iraklis; Mitsakis, Evangelos; Samaras, Zissis

    2015-12-01

    Airborne urban particulate and gaseous pollutants measurements were conducted at the kerbside of a busy road and at a nearby urban background site of Thessaloniki, Greece, during a winter and a summer period. The main objective was to observe how the financial crisis has affected the air quality in the city, compared to previous measurements. Compared to a study conducted in 2006, the current work suggests that although average concentrations at the traffic affected site remain higher that in the urban background station, the differences are much smaller than in the past. A number of observations suggest a scenario of decrease in traffic activity and increase in biomass burning for residential heating. On this basis, the results suggest that traffic may be less important as an air quality contributor in a financially hit city. On the contrary, domestic heating appears as a significant contributor and affects areas of the city that were earlier not being of environmental concern. Because of the impact of biomass burning in residential areas, exposure calculations are required to estimate whether traffic or biomass burning is the overall highest contributors to daily PM dosages that citizens of the city are exposed to.

  10. Nonstationary frequency analysis of extreme daily precipitation amounts in Southeastern Canada using a peaks-over-threshold approach

    Science.gov (United States)

    Thiombiano, Alida N.; El Adlouni, Salaheddine; St-Hilaire, André; Ouarda, Taha B. M. J.; El-Jabi, Nassir

    2016-04-01

    In this paper, a statistical inference of Southeastern Canada extreme daily precipitation amounts is proposed using a classical nonstationary peaks-over-threshold model. Indeed, the generalized Pareto distribution (GPD) is fitted to excess time series derived from annual averages of independent precipitation amount events above a fixed threshold, the 99th percentile. Only the scale parameter of the fitted distribution is allowed to vary as a function of a covariate. This variability is modeled using B-spline function. Nonlinear correlation and cross-wavelet analysis allowed identifying two dominant climate indices as covariates in the study area, Arctic Oscillation (AO) and Pacific North American (PNA). The nonstationary frequency analysis showed that there is an east-west behavior of the AO index effects on extreme daily precipitation amounts in the study area. Indeed, the higher quantiles of these events are conditional to the AO positive phase in Atlantic Canada, while those in the more southeastern part of Canada, especially in Southern Quebec and Ontario, are negatively related to AO. The negative phase of PNA also gives the best significant correlation in these regions. Moreover, a regression analysis between AO (PNA) index and conditional quantiles provided slope values for the positive phase of the index on the one hand and the negative phase and on the other hand. This statistic allows computing a slope ratio which permits to sustain the nonlinear relation assumption between climate indices and precipitation and the development of the nonstationary GPD model for Southeastern Canada extremes precipitation modeling.

  11. Nonstationary frequency analysis of extreme daily precipitation amounts in Southeastern Canada using a peaks-over-threshold approach

    Science.gov (United States)

    Thiombiano, Alida N.; El Adlouni, Salaheddine; St-Hilaire, André; Ouarda, Taha B. M. J.; El-Jabi, Nassir

    2017-07-01

    In this paper, a statistical inference of Southeastern Canada extreme daily precipitation amounts is proposed using a classical nonstationary peaks-over-threshold model. Indeed, the generalized Pareto distribution (GPD) is fitted to excess time series derived from annual averages of independent precipitation amount events above a fixed threshold, the 99th percentile. Only the scale parameter of the fitted distribution is allowed to vary as a function of a covariate. This variability is modeled using B-spline function. Nonlinear correlation and cross-wavelet analysis allowed identifying two dominant climate indices as covariates in the study area, Arctic Oscillation (AO) and Pacific North American (PNA). The nonstationary frequency analysis showed that there is an east-west behavior of the AO index effects on extreme daily precipitation amounts in the study area. Indeed, the higher quantiles of these events are conditional to the AO positive phase in Atlantic Canada, while those in the more southeastern part of Canada, especially in Southern Quebec and Ontario, are negatively related to AO. The negative phase of PNA also gives the best significant correlation in these regions. Moreover, a regression analysis between AO (PNA) index and conditional quantiles provided slope values for the positive phase of the index on the one hand and the negative phase and on the other hand. This statistic allows computing a slope ratio which permits to sustain the nonlinear relation assumption between climate indices and precipitation and the development of the nonstationary GPD model for Southeastern Canada extremes precipitation modeling.

  12. Twice daily melatonin peaks in Siberian but not Syrian hamsters under 24 h light:dark:light:dark cycles.

    Science.gov (United States)

    Raiewski, Evan E; Elliott, Jeffrey A; Evans, Jennifer A; Glickman, Gena L; Gorman, Michael R

    2012-11-01

    The daily pattern of blood-borne melatonin varies seasonally under the control of a multi-oscillator circadian pacemaker. Here we examine patterns of melatonin secretion and locomotor activity in Siberian and Syrian hamsters entrained to bimodal LDLD8:4:8:4 and LD20:4 lighting schedules that facilitate novel temporal arrangements of component circadian oscillators. Under LDLD, both species robustly bifurcated wheel-running activity in distinct day scotophase (DS) and night scotophase (NS) bouts. Siberian hamsters displayed significant melatonin increases during each scotophase in LDLD, and in the single daily scotophase of LD20:4. The bimodal melatonin secretion pattern persisted in acutely extended 16 h scotophases. Syrian hamsters, in contrast, showed no significant increases in plasma melatonin during either scotophase of LDLD8:4:8:4 or in LD20:4. In this species, detectable levels were observed only when the DS of LDLD was acutely extended to yield 16 h of darkness. Established species differences in the phase lag of nocturnal melatonin secretion relative to activity onset may underlie the above contrast: In non-bifurcated entrainment to 24 h LD cycles, Siberian hamsters show increased melatonin secretion within ≈ 2 h after activity onset, whereas in Syrian hamsters, detectable melatonin secretion phase lags activity onset and the L/D transition by at least 4 h. The present results provide new evidence indicating multi-oscillator regulation of the waveform of melatonin secretion, specifically, the circadian control of the onset, offset and duration of nocturnal secretion.

  13. 75 FR 42380 - Orders Finding That the SP-15 Financial Day-Ahead LMP Peak Contract and SP-15 Financial Day-Ahead...

    Science.gov (United States)

    2010-07-21

    ... the contract is a SPDC. The issuance of an affirmative order signals the effectiveness of the...''), Electric Power Supply Association (``EPSA''), Financial Institutions Energy Group (``FIEG''), Working Group...''), Edison Electric Institute (``EEI''), Western Power Trading Forum (``WPTF'') and Public Utility...

  14. 75 FR 42411 - Orders Finding That the SP-15 Financial Day-Ahead LMP Peak Daily Contract; SP-15 Financial Day...

    Science.gov (United States)

    2010-07-21

    ..., among other things, regulates the interstate transmission of natural gas, oil and electricity. EPSA... crisis in 2000 and 2001. See http://www.wapa.gov/sn/ops/transmission/path15/factSheet.pdf . When the... contributed to the California energy crisis in 2000 and 2001. See...

  15. Should optimal timing between two intrauterine transfusions be based on estimated daily decrease of hemoglobin or on measurement of fetal middle cerebral artery peak systolic velocity?

    Science.gov (United States)

    Ghesquière, Louise; Houfflin-Debarge, Véronique; Behal, Hélène; Coulon, Capucine; Subtil, Damien; Vaast, Pascal; Garabedian, Charles

    2017-04-01

    To best predict the recurrence of fetal anemia after intrauterine transfusion (IUT), the measurement of middle cerebral artery peak systolic velocity (PSV) and the estimation of hemoglobin (Hb) daily decrease are compared. A retrospective study including 38 patients who had at least two IUTs in a context of red blood cell alloimmunization was conducted. PSV values before first, second, and third IUTs were collected and expected Hb level was calculated according to various Hb daily decrease formulas as proposed in the literature. Comparison of PSV receiver operating characteristic curves with the various Hb levels did not find any significant difference between first and second IUTs. On the other hand, we found a significant difference between the second and third IUTs, with better prediction of fetal anemia through Hb decrease calculation, whatever the formula. Between the second and third IUTs, no formula was significantly better than the others. The timing of a second transfusion can be difficult to determine with certainty, but PSV can give an accurate assessment of when to resample the fetus with probably a higher recommended threshold for the diagnosis of fetal anemia. Subsequent to a second transfusion, the intertransfusion interval should be based on estimated Hb decrease rather than PSV thresholds, whatever the chosen formula proposed in the literature. Larger numbers are needed to definitely make this recommendation and it will be interesting to evaluate correlation between different antibodies. © 2017 AABB.

  16. daily nigerian nigerian nigerian peak load forec peak load forec ...

    African Journals Online (AJOL)

    User

    is generally needed for control and scheduling power system and also as inputs to load flo analysis .... Figure 1 Seasonal indices computing neural network ... Feedback paths are sometimes used. In applying a neural network to electric load ...

  17. [Study of personal best value of peak expiratory flow in patients with asthma--comparison of the highest value of daily PEF under good control and the highest value of daily PEF obtained after using repeated inhaled beta2-agonist during high-dose inhaled steroid treatment].

    Science.gov (United States)

    Watanabe, Naoto; Makino, Sohei; Kihara, Norio; Fukuda, Takeshi

    2008-12-01

    In the guideline for asthma management, it is important to find the personal best value of peak expiratory flow (best PEF). Recently, we have substituted the highest value of PEF in daily life under good control (daily highest PEF) for the best PEF. In the present study, we considered whether the daily highest PEF could be used as the best PEF or not. Subjects were 30 asthmatics who were well controlled but whose baseline PEF values were less than 80 percent of predicted values. We compared the daily highest PEF and the highest of PEF obtained after repeated inhaled beta2-agonist (salbutamol MDI every 20 minutes three times). All subjects then received 1600 microg/day of beclomethasone dipropionate (BDP) for 4 to 8 weeks. We studied the effect of high-dose inhaled steroid treatment on each PEF value and compared the daily highest PEF and the highest PEF obtained after using repeated salbutamol MDI during high dose inhaled steroid therapy on the examination day again. The baseline PEF, daily highest PEF and the highest PEF obtained after salbutamol MDI were significantly less than the each values obtained after high-dose BDP. The best PEF value of them was the value obtained after repeated salbutamol MDI during high dose BDP. We suggest that the daily highest PEF under good control is not a substitute for best PEF because it changes according to the degree of improvement of airway inflammation. We recommend that a course of high dose inhaled steroid is effective in finding the best value of PEF for each individual with moderate asthma.

  18. Establishment of a Box-Jenkins multivariate time-series model to simulate ground-level peak daily one-hour ozone concentrations at Ta-Liao in Taiwan.

    Science.gov (United States)

    Liu, Pao-Wen Grace

    2007-09-01

    Box-Jenkins univariate autoregressive integrated moving average (ARIMA) and regression with time-series error (RTSE) models were established to simulate historical peak daily 1-hr ozone concentrations at Ta-Liao, Taiwan, 1997-2001. During 1995-2003, the 600 days of Pollution Standard Index (PSI) more than 100 (peak daily 1-hr ozone concentrations detected by greater than 120 ppm) at Tao-Liao showed the highest ozone exceedances among the six monitoring stations in Kaohsiung County. To improve the predictability of extremely high ozone, two different principal components, PC1 and PC(1 + 2), were introduced in the RTSE model. Four typical predictors (particular matter with an aerodynamic diameter less than or equal to 10 microm, temperature, wind speed, and wind direction) plus a PC trigger remained significant in the RTSE model. The model performance statistics concluded that the RTSE model with PC1 was optimal, compared with the univariate ARIMA, the RTSE model without PC, and RTSE model with PC(1 + 2). The contingency table shows that the successful predictions of the univariate model were only 12.9% of that of the RTSE model with PC1. Also, the POD value was improved approximately 5-fold when the univariate model was replaced by the RTSE model, and almost 8-fold when it was replaced by the RTSE model with PC1. Moreover, introducing the PC trigger indeed enhanced the ozone predictability. After the PC trigger was introduced in the RTSE model, the POD was increased 69.9%, and the FAR was reduced 8.3%. The overall correlation between the observed and simulated ozone was improved 9.6%. Also, the first principal component was more useful than the first two components in playing the "trigger" role, though it counted only for 58.62% of the environmental variance during the high ozone days.

  19. 基于贝叶斯框架和回声状态网络的日最大负荷预测研究%Daily Peak Load Forecasting Based on Bayesian Framework and Echo State Network

    Institute of Scientific and Technical Information of China (English)

    嵇灵; 牛东晓; 吴焕苗

    2012-01-01

    To overcome the pseudo-regression in neural network, the standard echo state network is improved and generalization ability of standard echo state network is enhanced by Bayesian framework. To verify the availability and adaptability of the proposed method, in the analysis on empirical example actual load data and related climatic data of a certain region are used as input variables to forecast the daily peak load of this region. Comparison of the forecasted daily load curve with actual daily load curve shows that the forecasted load curve by improved echo state network is more accurate than those forecasted by BP neural network and standard echo state network, and the generalization ability of the improved echo state network is more stronger.%为克服神经网络中的伪回归问题,对标准的回声状态网络进行改进,用贝叶斯理论提高网络的泛化能力.在实证算例分析中,采用某地区的实际负荷数据和相关气候数据,对该地区的日最大负荷进行预测,验证所提方法的有效性和适用性.对比试验的预测结果表明,改进的回声状态网络比标准回声状态网络和前馈神经网络预测效果更精确,网络泛化能力更强.

  20. Daily Democracy

    DEFF Research Database (Denmark)

    Larson, Karin; Giro, Francesca; Graham, Todd

    media are fostering a more ‘connected’ and reciprocal relationship between citizens and politicians. Throughout many Western democracies, research points to the in- creasing valorisation of Twitter as an informal, intimate and open space for (ev- eryday) political communication, raising important......, it ignores the communicative mundaneness of daily democracy. This paper accordingly in- vestigates and compares the ways in which members of parliament (MPs) in three European countries – Italy, Sweden and United Kingdom – utilize Twit- ter during off-peak periods, focusing on the extent to which social...... basic patterns of usage. Second, we analyse the types of tweets (e.g. retweet, @-reply); third, their function (e.g. self-promotion, critiquing, requesting input/support); fourth, interaction (whom MPs communicate with). Finally, we examine the content (the political/personal topics tweeted about...

  1. Trough-to-peak ratio, smoothness index, and circadian blood pressure profile after treatment with once-daily fixed combination of losartan 100 and hydrochlorothiazide 25 in essential hypertension.

    Science.gov (United States)

    Coca, Antonio; Sobrino, Javier; Soler, Josep; Felip, Angela; Pelegrí, Antoni; Mínguez, Agustin; Vila, Joaquim; de la Sierra, Alejandro; Plana, Jaume

    2002-06-01

    The once-daily fixed combination of losartan 100 mg/hydrochlorothiazide 25 mg was evaluated for safety and efficacy in a multicenter open study by using 24-h ambulatory blood pressure monitoring in untreated patients with moderate-to-severe essential hypertension or patients with uncontrolled hypertension despite treatment with monotherapy or low-dose combination. After a 2-week washout period, 41 patients (22 men, 19 women) aged 34-74 years, showing a mean daytime blood pressure > 135/85 mm Hg, were treated with losartan 100 mg/hydrochlorothiazide 25 for 8 weeks. Ambulatory blood pressure was monitored at the end of the washout period and during the last week of treatment. A significant reduction in the average values of clinic blood pressure (from 169.9 +/- 13.5 mm Hg to 139.5 +/- 15.6 mm Hg, p SBP]; and from 102.2 +/- 7.1 mm Hg to 85.1 +/- 9.5 mm Hg, p SBP and 24-h DBP were significantly reduced (from 145.7 +/- 13.1 mm Hg to 128.3 +/- 14.6 mm Hg, p SBP; and from 90.3 +/- 7.3 mm Hg to 79.2 +/- 8.6 mm Hg, p SBP and 12.1 +/- 7.4 mm Hg for 24-h DBP, whereas the lowering at trough was 17.8 +/- 12.0 mm Hg and 10.4 +/- 8.1 mm Hg, respectively. The trough-to-peak ratio (T/P) was 0.88 for SBP and 0.86 for DBP, and the smoothness index was 7.36 for SBP and 6.37 for DBP. The response rate was 87.8% (blood pressure lowering > 5 mm Hg of either 24-h SBP or 24-h DBP average values). Among responders, T/P ratio was 0.89 for SBP and 0.87 for DBP, and the smoothness index was 8.09 for SBP and 7.15 for DBP. No side effects or changes in metabolic parameters were observed. The fixed combination of losartan 100 mg/hydrochlorothiazide 25 was very effective and well tolerated.

  2. Financial austerity measures and their effects as perceived in daily practice by Italian nurses from 2010 to 2011: A longitudinal study.

    Science.gov (United States)

    Palese, Alvisa; Vianello, Chiara; Cassone, Andrea; Polonia, Marta; Bortoluzzi, Guido

    2014-01-01

    Abstract Most western economies have in recent years been experiencing one of the longest and deepest economic recessions since the Great Depression. During a recession health-care expenditures are often among the first to be cut. However, what is occurring in daily practice from the point of view of care has not been documented to date. Describing the cost containment interventions undertaken and their effects as perceived in daily practice by Italian nurses was the aim of the study. A longitudinal study design was adopted from 2010 to 2011 involving 1,001 nurses each year. In the 2-year period taken into consideration, participants reported a significant increase in the number of cost containment measures adopted by their health-care organisations. The effects of these cost containment measures have been perceived by nurses especially in terms of (1) increased stress levels, (2) increased number of patients with social problems, and (3) increased nursing workloads. In addition, greater difficulties in finding clinical placement for nursing students and fewer resources devoted to nursing professional development were reported, indicating that some cost containment measures will have long-term effects. The economic crisis seems to affect mainly the most vulnerable groups of society. Innovative solutions for the need to reduce the costs of National Health Services do not seem to emerge from the findings.

  3. COMPANY ACTIVITY FINANCIAL RISK

    Directory of Open Access Journals (Sweden)

    Caruntu Genu Alexandru

    2012-12-01

    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.

  4. Financialization and financial profit

    Directory of Open Access Journals (Sweden)

    Arturo Guillén

    2014-09-01

    Full Text Available This article starts from the critical review of the concept of financial capital. I consider it is necessary not to confuse this category with of financialization, which has acquired a certificate of naturalization from the rise of neoliberalism. Although financial monopoly-financial capital is the hegemonic segment of the bourgeoisie in the major capitalist countries, their dominance does not imply, a fortiori, financialization of economic activity, since it depends of the conditions of the process reproduction of capital. The emergence of joint stock companies modified the formation of the average rate of profit. The "promoter profit" becomes one of the main forms of income of monopoly-financial capital. It is postulated that financial profit is a kind of "extraordinary surplus-value" which is appropriated by monopoly-financial capital by means of the monopolistic control it exerts on the issue and circulation of fictitious capital.

  5. Financial history and financial economics

    OpenAIRE

    Turner, John D.

    2014-01-01

    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...

  6. Financial history and financial economics

    OpenAIRE

    Turner, John D.

    2014-01-01

    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...

  7. Financial Stability and Financial Inclusion

    OpenAIRE

    Morgan, Peter J; Pontines, Victor

    2014-01-01

    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...

  8. Preventing Financial Crime

    DEFF Research Database (Denmark)

    Boll, Karen

    This paper investigates the Swedish tax authority’s (Skatteverkets) compliance initiative called Preventing Financial Crime. In Sweden tax evasion related to organised moon-lighting is defined as a major risk to the revenue collection and to the legitimacy of Skatteverket. The traditional approach...... to abating such tax evasion has been reformed and a new mix-method approach adopted. This approach combines a proactive strategy—Preventing Financial Crime—with a reactive inspection strategy. During one a month of intensive fieldwork in Sweden, I studied the daily work in Preventing Financial Crime. Based...

  9. 提高泌乳盛期奶牛乳脂率与乳蛋白含量的营养调控研究%Effects of Nutritive Regulation on Milk Fat Percentage and Milk Protein Content of Daily Cows in Peak Lactation Stage

    Institute of Scientific and Technical Information of China (English)

    杨正德; 涂家宽; 裴成江; 宋大书; 刘付祥

    2011-01-01

    为研究提高奶牛乳脂率与乳蛋白含量的营养调控技术,选择体况、胎次、产犊时间、产奶量相近的泌乳盛期中国荷斯坦奶牛27头,采用L9(34)正交试验设计,进行了中性洗涤纤维(NDF)、小肠可消化蛋白(IDCP)、添加过瘤胃保护脂肪酸(RPFA)、过瘤胃保护氨基酸(RPAA)对泌乳盛期奶牛乳脂率与乳蛋白含量的影响试验.结果表明,日粮干物质(DM)中NDF41%、IDCP按我国推荐量92%、脂肪酸钙150g/d、过瘤胃保护蛋氨酸8g/d+过瘤胃保护赖氨酸32g/d,可有效提高奶牛泌乳盛期的乳脂率与乳蛋白含量.%27 Chinese-Holstein daily cows with the similar body statns, birth rank . calving time and milk output were tested by the L9 ( 34 ) design to study the effects of neutral deterGent fiber ( NDF) , intestine digestible crude protein ( IDCP) , rumen protected fatty acid ( RPFA ) and rumen protected amino acids ( RPAA) on mnilk fat percentage and milk protein content of daily cows in peak lactalion stage and the nutritive regnlation technique for improving the milk fat percentage and milk protein content. The results showed that 41 % NDF in dry matter of daily ration , 92 % IDCP of the recommended requirement of China Feeding Standard Of Dairy Cattle. 150 g/d calcium salt of fatty acid . 8 g/d rumen protected Met and 32 g/d rumen protected Lys could effectively improve milk fat percentage and milk protein content of ChineseHolstein daily cows in peak lactation stage.

  10. Financial Benchmarking

    OpenAIRE

    2012-01-01

    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...

  11. PeakWorks

    Energy Technology Data Exchange (ETDEWEB)

    2016-11-30

    The PeakWorks software is designed to assist in the quantitative analysis of atom probe tomography (APT) generated mass spectra. Specifically, through an interactive user interface, mass peaks can be identified automatically (defined by a threshold) and/or identified manually. The software then provides a means to assign specific elemental isotopes (including more than one) to each peak. The software also provides a means for the user to choose background subtraction of each peak based on background fitting functions, the choice of which is left to the users discretion. Peak ranging (the mass range over which peaks are integrated) is also automated allowing the user to chose a quantitative range (e.g. full-widthhalf- maximum). The software then integrates all identified peaks, providing a background-subtracted composition, which also includes the deconvolution of peaks (i.e. those peaks that happen to have overlapping isotopic masses). The software is also able to output a 'range file' that can be used in other software packages, such as within IVAS. A range file lists the peak identities, the mass range of each identified peak, and a color code for the peak. The software is also able to generate 'dummy' peak ranges within an outputted range file that can be used within IVAS to provide a means for background subtracted proximity histogram analysis.

  12. Paniek over Peak Food

    NARCIS (Netherlands)

    Koning, N.B.J.

    2015-01-01

    Het kon niet uitblijven. De groei van de voedselproductie stagneert en na Peak Oil dreigt nu Peak Food. Onzin, vindt Niek Koning, die zogenaamde peak is een van de toppen in een langjarige golfbeweging op de landbouwmarkten. Toch zijn er genoeg redenen om je zorgen te maken over de wereldvoedselvoor

  13. Are Bragg Peaks Gaussian?

    Science.gov (United States)

    Hammouda, Boualem

    2014-01-01

    It is common practice to assume that Bragg scattering peaks have Gaussian shape. The Gaussian shape function is used to perform most instrumental smearing corrections. Using Monte Carlo ray tracing simulation, the resolution of a realistic small-angle neutron scattering (SANS) instrument is generated reliably. Including a single-crystal sample with large d-spacing, Bragg peaks are produced. Bragg peaks contain contributions from the resolution function and from spread in the sample structure. Results show that Bragg peaks are Gaussian in the resolution-limited condition (with negligible sample spread) while this is not the case when spread in the sample structure is non-negligible. When sample spread contributes, the exponentially modified Gaussian function is a better account of the Bragg peak shape. This function is characterized by a non-zero third moment (skewness) which makes Bragg peaks asymmetric for broad neutron wavelength spreads. PMID:26601025

  14. Adaptive financial networks with static and dynamic thresholds

    CERN Document Server

    Qiu, Tian; Chen, Guang

    2010-01-01

    Based on the daily data of American and Chinese stock markets, the dynamic behavior of a financial network with static and dynamic thresholds is investigated. Compared with the static threshold, the dynamic threshold suppresses the large fluctuation induced by the cross-correlation of individual stock prices, and leads to a stable topological structure in the dynamic evolution. Long-range time-correlations are revealed for the average clustering coefficient, average degree and cross-correlation of degrees. The dynamic network shows a two-peak behavior in the degree distribution.

  15. Financial Education

    OpenAIRE

    Udo Reifner; Anne Schelhowe

    2010-01-01

    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 ...

  16. Peak Experience Project

    Science.gov (United States)

    Scott, Daniel G.; Evans, Jessica

    2010-01-01

    This paper emerges from the continued analysis of data collected in a series of international studies concerning Childhood Peak Experiences (CPEs) based on developments in understanding peak experiences in Maslow's hierarchy of needs initiated by Dr Edward Hoffman. Bridging from the series of studies, Canadian researchers explore collected…

  17. Peak Experience Project

    Science.gov (United States)

    Scott, Daniel G.; Evans, Jessica

    2010-01-01

    This paper emerges from the continued analysis of data collected in a series of international studies concerning Childhood Peak Experiences (CPEs) based on developments in understanding peak experiences in Maslow's hierarchy of needs initiated by Dr Edward Hoffman. Bridging from the series of studies, Canadian researchers explore collected…

  18. FINANCIAL MECHANISMS OF FINANCIAL CRISES

    Directory of Open Access Journals (Sweden)

    Ivan LUCHIAN

    2016-07-01

    Full Text Available The actuality of this article is determined by the need to demonstrate that financial crisis is not just an issue of economic disaster caused by contagion effect of financial cataclysm, expressed in national currency depreciation, depletion of foreign exchange reserves, mass bankruptcy of financial institutions, non-market entities insolvency and impossibility of sovereign debt servicing, but a special investment opportunity with associated characteristics of profitability. Central aims of article is research of financial crisis essence, investment mechanisms linked to existing fundamental laws of its conduct and determination of investment opportunities manifested in various segments of financial market and related sectors. Main research methods were: systemic analysis, statistical analysis, monographic and logic synthesis, etc. Main scientific results obtained in the article, due to research are to identify, analyze and demonstrate investment opportunities of international financial crisis and financial crises in Moldova.

  19. The central peak revisited

    Energy Technology Data Exchange (ETDEWEB)

    Shirane, G.

    1995-10-27

    The central peak in SrTiO{sub 3} was first observed by Riste and his collaborators in 1971. This was one of the key discoveries leading to an understanding of the dynamics of phase transitions. The most recent discovery of two length scales in SrTiO{sub 3} motivated a reinvestigation of the soft phonon and associated central peak by neutron scattering. These recent experiments shed new light on the nature of the central peak. It is now well established to be strongly sample dependent and it originates from defects in bulk crystals.

  20. Financial mathematics

    CERN Document Server

    Jothi, A Lenin

    2009-01-01

    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

  1. Pikes Peak, Colorado

    Science.gov (United States)

    Brunstein, Craig; Quesenberry, Carol; Davis, John; Jackson, Gene; Scott, Glenn R.; D'Erchia, Terry D.; Swibas, Ed; Carter, Lorna; McKinney, Kevin; Cole, Jim

    2006-01-01

    For 200 years, Pikes Peak has been a symbol of America's Western Frontier--a beacon that drew prospectors during the great 1859-60 Gold Rush to the 'Pikes Peak country,' the scenic destination for hundreds of thousands of visitors each year, and an enduring source of pride for cities in the region, the State of Colorado, and the Nation. November 2006 marks the 200th anniversary of the Zebulon M. Pike expedition's first sighting of what has become one of the world's most famous mountains--Pikes Peak. In the decades following that sighting, Pikes Peak became symbolic of America's Western Frontier, embodying the spirit of Native Americans, early explorers, trappers, and traders who traversed the vast uncharted wilderness of the Western Great Plains and the Southern Rocky Mountains. High-quality printed paper copies of this poster are available at no cost from Information Services, U.S. Geological Survey (1-888-ASK-USGS).

  2. Peak Oil, Peak Coal and Climate Change

    Science.gov (United States)

    Murray, J. W.

    2009-05-01

    Research on future climate change is driven by the family of scenarios developed for the IPCC assessment reports. These scenarios create projections of future energy demand using different story lines consisting of government policies, population projections, and economic models. None of these scenarios consider resources to be limiting. In many of these scenarios oil production is still increasing to 2100. Resource limitation (in a geological sense) is a real possibility that needs more serious consideration. The concept of 'Peak Oil' has been discussed since M. King Hubbert proposed in 1956 that US oil production would peak in 1970. His prediction was accurate. This concept is about production rate not reserves. For many oil producing countries (and all OPEC countries) reserves are closely guarded state secrets and appear to be overstated. Claims that the reserves are 'proven' cannot be independently verified. Hubbert's Linearization Model can be used to predict when half the ultimate oil will be produced and what the ultimate total cumulative production (Qt) will be. US oil production can be used as an example. This conceptual model shows that 90% of the ultimate US oil production (Qt = 225 billion barrels) will have occurred by 2011. This approach can then be used to suggest that total global production will be about 2200 billion barrels and that the half way point will be reached by about 2010. This amount is about 5 to 7 times less than assumed by the IPCC scenarios. The decline of Non-OPEC oil production appears to have started in 2004. Of the OPEC countries, only Saudi Arabia may have spare capacity, but even that is uncertain, because of lack of data transparency. The concept of 'Peak Coal' is more controversial, but even the US National Academy Report in 2007 concluded only a small fraction of previously estimated reserves in the US are actually minable reserves and that US reserves should be reassessed using modern methods. British coal production can be

  3. Peak of Achievement

    Institute of Scientific and Technical Information of China (English)

    2008-01-01

    China’s first inland research station on the highest peak of Antarctic progresses smoothly China will complete the construction of its first inland Antarctic research station at Dome A,the highest polar icecap peak at 4,093 meters above sea level,next year,according to a south pole scientist involved in the project. "The preparatory work for the new sta-

  4. Financial Literacy, Financial Education, and Economic Outcomes

    Science.gov (United States)

    Hastings, Justine S.; Madrian, Brigitte C.; Skimmyhorn, William L.

    2013-01-01

    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…

  5. Financial Literacy, Financial Education, and Economic Outcomes

    Science.gov (United States)

    Hastings, Justine S.; Madrian, Brigitte C.; Skimmyhorn, William L.

    2013-01-01

    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…

  6. Correlation-Peak Imaging

    Science.gov (United States)

    Ziegler, A.; Metzler, A.; Köckenberger, W.; Izquierdo, M.; Komor, E.; Haase, A.; Décorps, M.; von Kienlin, M.

    1996-08-01

    Identification and quantitation in conventional1H spectroscopic imagingin vivois often hampered by the small chemical-shift range. To improve the spectral resolution of spectroscopic imaging, homonuclear two-dimensional correlation spectroscopy has been combined with phase encoding of the spatial dimensions. From the theoretical description of the coherence-transfer signal in the Fourier-transform domain, a comprehensive acquisition and processing strategy is presented that includes optimization of the width and the position of the acquisition windows, matched filtering of the signal envelope, and graphical presentation of the cross peak of interest. The procedure has been applied to image the spatial distribution of the correlation peaks from specific spin systems in the hypocotyl of castor bean (Ricinus communis) seedlings. Despite the overlap of many resonances, correlation-peak imaging made it possible to observe a number of proton resonances, such as those of sucrose, β-glucose, glutamine/glutamate, lysine, and arginine.

  7. New daily persistent headache

    Directory of Open Access Journals (Sweden)

    Alok Tyagi

    2012-01-01

    Full Text Available New daily persistent headache (NDPH is a chronic headache developing in a person who does not have a past history of headaches. The headache begins acutely and reaches its peak within 3 days. It is important to exclude secondary causes, particularly headaches due to alterations in cerebrospinal fluid (CSF pressure and volume. A significant proportion of NDPH sufferers may have intractable headaches that are refractory to treatment. The condition is best viewed as a syndrome rather than a diagnosis. The headache can mimic chronic migraine and chronic tension-type headache, and it is also important to exclude secondary causes, particularly headaches due to alterations in CSF pressure and volume. A large proportion of NDPH sufferers have migrainous features to their headache and should be managed with treatments used for treating migraine. A small group of NDPH sufferers may have intractable headaches that are refractory to treatment.

  8. Advertising, Attention, and Financial Markets

    OpenAIRE

    Focke, Florens; Ruenzi, Stefan; Ungeheuer, Michael

    2015-01-01

    We investigate the impact of product market advertising on investor attention and financial market outcomes. Using daily advertising data allows us to identify short-term effects of advertising. We measure daily investor attention based the company's number of Wikipedia page views. We show that TV and newspaper advertising positively impacts short-term investor attention. It also positively impacts turnover and liquidity, but the effects are not economically significant. Most importantly, ass...

  9. Peak-interviewet

    DEFF Research Database (Denmark)

    Raalskov, Jesper; Warming-Rasmussen, Bent

    Peak-interviewet er en særlig effektiv metode til at gøre ubevidste menneskelige ressourcer bevidste. Fokuspersonen (den interviewede) interviewes om en selvvalgt, personlig succesoplevelse. Terapeuten/coachen (intervieweren) spørger ind til processen, som ledte hen til denne succes. Herved afdæk...

  10. Peak-interviewet

    DEFF Research Database (Denmark)

    Raalskov, Jesper; Warming-Rasmussen, Bent

    Peak-interviewet er en særlig effektiv metode til at gøre ubevidste menneskelige ressourcer bevidste. Fokuspersonen (den interviewede) interviewes om en selvvalgt, personlig succesoplevelse. Terapeuten/coachen (intervieweren) spørger ind til processen, som ledte hen til denne succes. Herved afdæk...

  11. Cohesiveness in Financial News and its Relation to Market Volatility

    Science.gov (United States)

    Piškorec, Matija; Antulov-Fantulin, Nino; Novak, Petra Kralj; Mozetič, Igor; Grčar, Miha; Vodenska, Irena; Šmuc, Tomislav

    2014-05-01

    Motivated by recent financial crises, significant research efforts have been put into studying contagion effects and herding behaviour in financial markets. Much less has been said regarding the influence of financial news on financial markets. We propose a novel measure of collective behaviour based on financial news on the Web, the News Cohesiveness Index (NCI), and we demonstrate that the index can be used as a financial market volatility indicator. We evaluate the NCI using financial documents from large Web news sources on a daily basis from October 2011 to July 2013 and analyse the interplay between financial markets and finance-related news. We hypothesise that strong cohesion in financial news reflects movements in the financial markets. Our results indicate that cohesiveness in financial news is highly correlated with and driven by volatility in financial markets.

  12. Cohesiveness in financial news and its relation to market volatility.

    Science.gov (United States)

    Piškorec, Matija; Antulov-Fantulin, Nino; Novak, Petra Kralj; Mozetič, Igor; Grčar, Miha; Vodenska, Irena; Smuc, Tomislav

    2014-05-22

    Motivated by recent financial crises, significant research efforts have been put into studying contagion effects and herding behaviour in financial markets. Much less has been said regarding the influence of financial news on financial markets. We propose a novel measure of collective behaviour based on financial news on the Web, the News Cohesiveness Index (NCI), and we demonstrate that the index can be used as a financial market volatility indicator. We evaluate the NCI using financial documents from large Web news sources on a daily basis from October 2011 to July 2013 and analyse the interplay between financial markets and finance-related news. We hypothesise that strong cohesion in financial news reflects movements in the financial markets. Our results indicate that cohesiveness in financial news is highly correlated with and driven by volatility in financial markets.

  13. Impact Crater with Peak

    Science.gov (United States)

    2002-01-01

    (Released 14 June 2002) The Science This THEMIS visible image shows a classic example of a martian impact crater with a central peak. Central peaks are common in large, fresh craters on both Mars and the Moon. This peak formed during the extremely high-energy impact cratering event. In many martian craters the central peak has been either eroded or buried by later sedimentary processes, so the presence of a peak in this crater indicates that the crater is relatively young and has experienced little degradation. Observations of large craters on the Earth and the Moon, as well as computer modeling of the impact process, show that the central peak contains material brought from deep beneath the surface. The material exposed in these peaks will provide an excellent opportunity to study the composition of the martian interior using THEMIS multi-spectral infrared observations. The ejecta material around the crater can is well preserved, again indicating relatively little modification of this landform since its initial creation. The inner walls of this approximately 18 km diameter crater show complex slumping that likely occurred during the impact event. Since that time there has been some downslope movement of material to form the small chutes and gullies that can be seen on the inner crater wall. Small (50-100 m) mega-ripples composed of mobile material can be seen on the floor of the crater. Much of this material may have come from the walls of the crater itself, or may have been blown into the crater by the wind. The Story When a meteor smacked into the surface of Mars with extremely high energy, pow! Not only did it punch an 11-mile-wide crater in the smoother terrain, it created a central peak in the middle of the crater. This peak forms kind of on the 'rebound.' You can see this same effect if you drop a single drop of milk into a glass of milk. With craters, in the heat and fury of the impact, some of the land material can even liquefy. Central peaks like the one

  14. Financial Crisis

    Institute of Scientific and Technical Information of China (English)

    黄骅

    2012-01-01

      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.

  15. Peak oil and gas

    Energy Technology Data Exchange (ETDEWEB)

    Ziegler, W. H. [W. H. Ziegler, Av. des Mousquines 40bis, Lausanne (Switzerland); Campbell, C. J. [Stabbal Hill, Ballydehob, County Cork (Ireland); Zagar, J.J. [Four Blues, Schull, County Cork (Ireland)

    2009-07-01

    Oil and gas were formed under exceptional conditions in the geological past, meaning that they are subject to natural depletion, such that the past growth in production must give way to decline. Although depletion is a simple concept to grasp, public data on the resource base are extremely unreliable due to ambiguous definitions and lax reporting. The oil industry is reluctant to admit to an onset of decline carrying obvious adverse financial consequences. There are several different categories of oil and gas, from tar sands to deep water fields, each with specific characteristics that need to be evaluated. It is important to build a global model on a country by country basis in order that anomalous statistics may be identified and evaluated. Such a study suggests that the world faces the onset of decline, with far-reaching consequences given the central role of oil-based energy. It is accordingly an important subject deserving detailed consideration by policy makers. (author)

  16. The Gift of Financial Insecurity

    Science.gov (United States)

    Wilson, Eric G.

    2009-01-01

    In 1864, when Americans were enduring the daily miseries of the Civil War, Emily Dickinson, perhaps with the nationwide crisis in mind, wrote "A nearness to Tremendousness--/An Agony procures." The author suggests that perhaps Dickinson's poetry may be applied to the current economic downturn, when financial comfort is fleeting and many ponder…

  17. The Gift of Financial Insecurity

    Science.gov (United States)

    Wilson, Eric G.

    2009-01-01

    In 1864, when Americans were enduring the daily miseries of the Civil War, Emily Dickinson, perhaps with the nationwide crisis in mind, wrote "A nearness to Tremendousness--/An Agony procures." The author suggests that perhaps Dickinson's poetry may be applied to the current economic downturn, when financial comfort is fleeting and many ponder…

  18. Examining financial performance indicators for acute care hospitals.

    Science.gov (United States)

    Burkhardt, Jeffrey H; Wheeler, John R C

    2013-01-01

    Measuring financial performance in acute care hospitals is a challenge for those who work daily with financial information. Because of the many ways to measure financial performance, financial managers and researchers must decide which measures are most appropriate. The difficulty is compounded for the non-finance person. The purpose of this article is to clarify key financial concepts and describe the most common measures of financial performance so that researchers and managers alike may understand what is being measured by various financial ratios.

  19. FINANCIAL LITERACY, FINANCIAL EDUCATION AND ECONOMIC OUTCOMES

    OpenAIRE

    Hastings, Justine S.; Brigitte C. Madrian; Skimmyhorn, William L.

    2013-01-01

    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...

  20. Fractal properties of financial markets

    Science.gov (United States)

    Budinski-Petković, Lj.; Lončarević, I.; Jakšić, Z. M.; Vrhovac, S. B.

    2014-09-01

    We present an analysis of the USA stock market using a simple fractal function. Financial bubbles preceding the 1987, 2000 and 2007 crashes are investigated using the Besicovitch-Ursell fractal function. Fits show a good agreement with the S&P 500 data when a complete financial growth is considered, starting at the threshold of the abrupt growth and ending at the peak. Moving the final time of the fitting interval towards earlier dates causes growing discrepancy between two curves. On the basis of a detailed analysis of the financial index behavior we propose a method for identifying the stage of the current financial growth and estimating the time in which the index value is going to reach the maximum.

  1. Quantifying the relationship between financial news and the stock market.

    Science.gov (United States)

    Alanyali, Merve; Moat, Helen Susannah; Preis, Tobias

    2013-12-20

    The complex behavior of financial markets emerges from decisions made by many traders. Here, we exploit a large corpus of daily print issues of the Financial Times from 2(nd) January 2007 until 31(st) December 2012 to quantify the relationship between decisions taken in financial markets and developments in financial news. We find a positive correlation between the daily number of mentions of a company in the Financial Times and the daily transaction volume of a company's stock both on the day before the news is released, and on the same day as the news is released. Our results provide quantitative support for the suggestion that movements in financial markets and movements in financial news are intrinsically interlinked.

  2. Simple grading model for financial markets

    Science.gov (United States)

    Thuy Anh, Chu; Lan, Nguyen Tri; Viet, Nguyen Ai

    2015-06-01

    A simple way to estimate and grade a financial market by comparison the evolution process and the shape of distribution functions was proposed. In normal working state of financial market, the shape of distribution functions have one-peak form and change from Boltzmann-like to Gaussian-like distributions, while in risk moment might have two-peak form. The grad of financial markets was characterized by overlap area of initial and final distribution functions, and for risk degree by the separation between two shoulders of distribution function. The meaning of Levi tails of distribution and laws of general entropy and information was discussed.

  3. Geyser Peak Cabernet Sauvignon

    Institute of Scientific and Technical Information of China (English)

    2006-01-01

    <正>年份:2000产地:美国加州Sonoma County售价:$196 Geyser Peak(盖世峰)成立于1880年,是美国军有的过百岁葡萄酒庄。可惜美国酿制葡萄酒的技术在近三四十年才有突破,历史再悠久也没有太多帮助近二十年Geyser Peak就努力改进,希望迎头赶上其它加州新秀的水平,1989年,他们就聘请了澳洲Penfolds酒庄的酿酒师Daryl Groom,让旗下出品多了一份澳洲式的"霎眼娇"风格。2003年,Geyser Peak更在International Wine & Spirit Competition赢得"最佳美国葡萄酒生产商"大奖。

  4. Financial Inclusion, Financial Regulation, and Financial Education in Thailand

    OpenAIRE

    Tambunlertchai, Kanittha

    2015-01-01

    This paper addresses the issue of financial inclusion in Thailand through the lens of an institutional analysis, which takes into consideration the desired outcomes, the service providers and enabling agencies, and the regulatory context that shape the existing provision of financial inclusion in Thailand. In discussing the achievement of the desired outcomes in terms of financial inclusion, the issues of financial education and financial regulation, which provide the contexts within which th...

  5. Financial Statements Analysis

    OpenAIRE

    Tănase Alin-Eliodor

    2014-01-01

    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.

  6. Financial Statements Analysis

    Directory of Open Access Journals (Sweden)

    Tănase Alin-Eliodor

    2014-10-01

    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.

  7. Daily Weather Records

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — These daily weather records were compiled from a subset of stations in the Global Historical Climatological Network (GHCN)-Daily dataset. A weather record is...

  8. Peak mass and dynamical friction

    CERN Document Server

    Del Popolo, A

    1995-01-01

    We show how the results given by several authors relatively to the mass of a density peak are changed when small scale substructure induced by dynamical friction are taken into account. The peak mass obtained is compared to the result of Peacock \\& Heavens (1990) and to the peak mass when dynamical friction is absent to show how these effects conspire to reduce the mass accreted by the peak.

  9. Peak capacity in unidimensional chromatography.

    Science.gov (United States)

    Neue, Uwe Dieter

    2008-03-14

    The currently existing knowledge about peak capacity in unidimensional separations is reviewed. The majority of the paper is dedicated to reversed-phase gradient chromatography, covering specific techniques as well as the subject of peak compression. Other sections deal with peak capacity in isocratic chromatography, size-exclusion chromatography and ion-exchange chromatography. An important topic is the limitation of the separation power and the meaning of the concept of peak capacity for real applications.

  10. FINANCIAL LEASING

    OpenAIRE

    2014-01-01

    This essay deals with the several financial resources an enterprise counts on to purchase assets of the kind real state or chattels. A resource that does not risk solvency is the lease, through the retro-leasing variant that allows to obtain working capital by selling one of its fixed assets without giving its use up. El ensayo, trata sobre las fuentes de fondeo que tiene la empresa para adquirir un activo mueble o inmueble son diversas, una de ellas que no compromete la liquidez es el con...

  11. MRO SOW Daily Script

    Science.gov (United States)

    Fisher, Forest E.; Khanampornpan, Teerapat; Gladden, Roy E.

    2008-01-01

    The MRO SOW daily script (wherein "MRO" signifies "Mars Reconnaissance Orbiter" and "SOW" signifies "sequence systems engineer of the week") is a computer program that automates portions of the MRO daily SOW procedure, which includes checking file-system sizes and automated sequence processor (ASP) log files. The MRO SOW daily script effects clear reporting of (1) the status of, and requirements imposed on, the file system and (2) the ASP log files.

  12. The impact of the twin peaks model on the insurance industry ...

    African Journals Online (AJOL)

    The impact of the twin peaks model on the insurance industry. ... the time and international trends have an important influence on lawmakers nationally. ... A further question is whether insurance as a financial service will change dramatically in ...

  13. Financial planning. Influencing the decision makers.

    Science.gov (United States)

    Isaac, E K

    1985-11-01

    Decision makers are most influenced by the impact on the whole, while budget preparers often concentrate on the upcoming fiscal year or on daily operations. This difference in approach becomes obvious in the budget process. Remember that your budget proposal is only one segment of the overall financial plan. Be aware of the goals of the governing body and of your CEO in projecting outcomes. Look to other disciplines to understand how they influence decision makers for funds. Resistance to this approach will neither enhance nor promote our competitive skills. We must think as financial planners to achieve our financial goals.

  14. Consumer Financial Protection Bureau

    Science.gov (United States)

    ... more. Find answers to common questions Reach your financial goals For the big financial decisions in your life, we offer free tools ... 2016 Events Field hearing on consumer access to financial records in Salt Lake City, Utah NOV 03, ...

  15. Financial Assistance Information

    Science.gov (United States)

    ... 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 ...

  16. PEAK SHAVING CONSIDERING STREAMFLOW UNCERTAINTIES

    African Journals Online (AJOL)

    user

    The main thrust of this paper is peak shaving with a Stochastic hydro model. In peak sharing, the amount of ... Fuel cost at a conventional hydro plant is nil. On the other hand, the ... s(k) = spill at the hydro plant in period k. I(k) = loss due to ...

  17. Financial Literacy and Financial Planning in France.

    OpenAIRE

    Luc Arrondel; Majdi Debbich; Frédérique Savignac

    2013-01-01

    How are people financially literate in France? We address this question 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, inflation and interest compounding. We also find some differences in financial knowledge depe...

  18. Financial Village Standing in Indonesian Financial System

    Directory of Open Access Journals (Sweden)

    Herry Purnomo

    2015-12-01

    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

  19. Financial Stress Indices and Financial Crises

    NARCIS (Netherlands)

    Vermeulen, Robert; Hoeberichts, Marco; Vasicek, Borek; Zigraiova, Diana; Smidkova, Katerina; de Haan, Jakob

    2015-01-01

    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

  20. How to use your peak flow meter

    Science.gov (United States)

    Peak flow meter - how to use; Asthma - peak flow meter; Reactive airway disease - peak flow meter; Bronchial asthma - peak flow meter ... If your airways are narrowed and blocked due to asthma, your peak flow values drop. You can ...

  1. Doppler peaks from active perturbations

    CERN Document Server

    Magueijo, J; Coulson, D; Ferreira, P; Magueijo, Joao; Albrecht, Andreas; Coulson, David; Ferreira, Pedro

    1995-01-01

    We examine how the qualitative structure of the Doppler peaks in the angular power spectrum of the cosmic microwave anisotropy depends on the fundamental nature of the perturbations which produced them. The formalism of Hu and Sugiyama is extended to treat models with cosmic defects. We discuss how perturbations can be ``active'' or ``passive'' and ``incoherent'' or ``coherent'', and show how causality and scale invariance play rather different roles in these various cases. We find that the existence of secondary Doppler peaks and the rough placing of the primary peak unambiguously reflect these basic properties.

  2. Financial Literacy and Financial Planning in France

    Directory of Open Access Journals (Sweden)

    Luc Arrondel

    2013-07-01

    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.

  3. Make peak flow a habit!

    Science.gov (United States)

    ... asthma - peak flow References Durrani SR, Busse WW. Management of asthma in adolescents and adults. In: Adkinson NF Jr, Bochner BS, Burks AW, et al, eds. Middleton's Allergy Principles and Practice . 8th ed. Philadelphia, PA: Elsevier Saunders; 2014:chap ...

  4. National energy peak leveling program (NEPLP). Final report

    Energy Technology Data Exchange (ETDEWEB)

    None

    1977-12-01

    This three-volume report is responsive to the requirements of Contract E (04-3)-1152 to provide a detailed methodology, to include management, technology, and socio-economic aspects, of a voluntary community program of computer-assisted peak load leveling and energy conservation in commercial community facilities. The demonstration project established proof-of-concept in reducing the kW-demand peak by the unofficial goal of 10%, with concurrent kWh savings. This section of the three volume report is a final report appendix with information on the financial management of load leveling, audit procedures, and building operating profiles.

  5. DailyMed

    Data.gov (United States)

    U.S. Department of Health & Human Services — DailyMed provides high quality information about marketed drugs. This information includes FDA labels (package inserts). This Web site provides health information...

  6. Lightship Daily Observations

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — Observations taken on board lightships along the United States coasts from 1936 - 1983. Generally 4-6 observations daily. Also includes deck logs, which give...

  7. DailyMed Webservices

    Data.gov (United States)

    U.S. Department of Health & Human Services — The DailyMed RESTful API is a web service for accessing current SPL information. It is implemented using HTTP and can be thought of as a collection of resources,...

  8. Daily Weather Maps

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — Several different government offices have published the Daily weather maps over its history. The publication has also gone by different names over time. The U.S....

  9. Dementia - daily care

    Science.gov (United States)

    ... this page: //medlineplus.gov/ency/patientinstructions/000030.htm Dementia - daily care To use the sharing features on ... prevent choking. Tips for Talking With Someone With Dementia Keep distractions and noise down: Turn off the ...

  10. Estimating Dynamic Equilibrium Models using Macro and Financial Data

    DEFF Research Database (Denmark)

    Christensen, Bent Jesper; Posch, Olaf; van der Wel, Michel

    We show that including financial market data at daily frequency, along with macro series at standard lower frequency, facilitates statistical inference on structural parameters in dynamic equilibrium models. Our continuous-time formulation conveniently accounts for the difference in observation...... of the estimators and estimate the model using 20 years of U.S. macro and financial data....

  11. Predicting Volatility and Correlations with Financial Conditions Indexes

    NARCIS (Netherlands)

    A. Opschoor (Anne); D.J.C. van Dijk (Dick); M. van der Wel (Michel)

    2014-01-01

    textabstractWe model the impact of financial conditions on asset market volatilities and correlations. We extend the Spline-GARCH model for volatility and DCC model for correlation to allow for inclusion of indexes that measure financial conditions. In our empirical application we consider daily

  12. Predicting Volatility and Correlations with Financial Conditions Indexes

    NARCIS (Netherlands)

    A. Opschoor (Anne); D.J.C. van Dijk (Dick); M. van der Wel (Michel)

    2014-01-01

    textabstractWe model the impact of financial conditions on asset market volatilities and correlations. We extend the Spline-GARCH model for volatility and DCC model for correlation to allow for inclusion of indexes that measure financial conditions. In our empirical application we consider daily sto

  13. Financial Sector Assessment : Malaysia

    OpenAIRE

    World Bank

    2013-01-01

    Malaysia, as many of its Asian neighbors, experienced significant macro/financial distress in the late 1990s. The transformed and strengthened financial sector has been able to weather the recent global financial crisis well. Financial market intermediaries reliance on cross-border and interbank funding remains limited. Banking institutions are well capitalized and are expected to be able...

  14. Consumer Financial Protection Bureau

    Science.gov (United States)

    ... Money as You Grow Navigating the Military Financial Lifecycle Owning a Home Paying for College Planning for Retirement Browse answers to hundreds of financial questions. Ask CFPB Have an issue with a financial product? Submit a complaint Get your financial well-being ...

  15. Financial Risk Management

    OpenAIRE

    Catalin-Florinel Stanescu; Laurentiu Mircea Simion

    2011-01-01

    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.

  16. Volatility and conditional distribution in financial markets

    OpenAIRE

    Abberger, Klaus

    1995-01-01

    There are various parametric models to analyse the volatility in time series of financial market data. For maximum likelihood estimation these parametric methods require the assumption of a known conditional distribution. In this paper we examine the conditional distribution of daily DAX returns with the help of nonparametric methods. We use kernel estimators for conditional quantiles resulting from a kernel estimation of conditional distributions.

  17. Fluctuation behaviors of financial return volatility duration

    Science.gov (United States)

    Niu, Hongli; Wang, Jun; Lu, Yunfan

    2016-04-01

    It is of significantly crucial to understand the return volatility of financial markets because it helps to quantify the investment risk, optimize the portfolio, and provide a key input of option pricing models. The characteristics of isolated high volatility events above certain threshold in price fluctuations and the distributions of return intervals between these events arouse great interest in financial research. In the present work, we introduce a new concept of daily return volatility duration, which is defined as the shortest passage time when the future volatility intensity is above or below the current volatility intensity (without predefining a threshold). The statistical properties of the daily return volatility durations for seven representative stock indices from the world financial markets are investigated. Some useful and interesting empirical results of these volatility duration series about the probability distributions, memory effects and multifractal properties are obtained. These results also show that the proposed stock volatility series analysis is a meaningful and beneficial trial.

  18. Peak Oil and other threatening peaks-Chimeras without substance

    Energy Technology Data Exchange (ETDEWEB)

    Radetzki, Marian, E-mail: marian@radetzki.bi [Lulea University of Technology (Sweden)

    2010-11-15

    The Peak Oil movement has widely spread its message about an impending peak in global oil production, caused by an inadequate resource base. On closer scrutiny, the underlying analysis is inconsistent, void of a theoretical foundation and without support in empirical observations. Global oil resources are huge and expanding, and pose no threat to continuing output growth within an extended time horizon. In contrast, temporary or prolonged supply crunches are indeed plausible, even likely, on account of growing resource nationalism denying access to efficient exploitation of the existing resource wealth.

  19. Peak Oil and other threatening peaks. Chimeras without substance

    Energy Technology Data Exchange (ETDEWEB)

    Radetzki, Marian [Luleaa University of Technology (Sweden)

    2010-11-15

    The Peak Oil movement has widely spread its message about an impending peak in global oil production, caused by an inadequate resource base. On closer scrutiny, the underlying analysis is inconsistent, void of a theoretical foundation and without support in empirical observations. Global oil resources are huge and expanding, and pose no threat to continuing output growth within an extended time horizon. In contrast, temporary or prolonged supply crunches are indeed plausible, even likely, on account of growing resource nationalism denying access to efficient exploitation of the existing resource wealth. (author)

  20. Ultrasonic Transducer Peak-to-Peak Optical Measurement

    Directory of Open Access Journals (Sweden)

    Pavel Skarvada

    2012-01-01

    Full Text Available Possible optical setups for measurement of the peak-to-peak value of an ultrasonic transducer are described in this work. The Michelson interferometer with the calibrated nanopositioner in reference path and laser Doppler vibrometer were used for the basic measurement of vibration displacement. Langevin type of ultrasonic transducer is used for the purposes of Electro-Ultrasonic Nonlinear Spectroscopy (EUNS. Parameters of produced mechanical vibration have to been well known for EUNS. Moreover, a monitoring of mechanical vibration frequency shift with a mass load and sample-transducer coupling is important for EUNS measurement.

  1. DASHBOARD USABILITY IN FINANCIAL MODELING

    Directory of Open Access Journals (Sweden)

    Ivan Stríček

    2015-09-01

    Full Text Available This article is focused on the possibility of utilizing dashboard applications in financial modeling. In the era of easy access to the spreadsheet generator, as well as applications and the Internet, it is appropriate to use these tools in each area. The increasing amount of data and the need for daily monitoring and evaluation lead to the development of management applications with graphical data analysis known as “Dashboards.” The manager has the option to buy the app with a predefined environment, or create his own version—specific to the company. If only a simpler design is needed, without an online base and a connection with external databases, then it is possible to create such a simple dashboard using Excel and manage it by trained personnel. In the article, we, therefore, introduced a sample of financial indicator suitable for analysis through the application process and also showed how to create the basic interactive application.

  2. RISK MANAGEMENT AND FINANCIAL RISKS

    Directory of Open Access Journals (Sweden)

    Caruntu Andreea Laura

    2011-12-01

    Full Text Available Throughout the last years the financial economic crisis has seriously affected the worldwide economies and what we know is that the risk is a phenomenon that appears daily in each company’s activity. It is seen as the probability of an event and its consequences. Each company needs to take into consideration that a good risk management is necessary if they want to survive in the economic environment. The purpose of this article is to bring into notice of the readers already known notions relating to risk and risk management so that it is understood how important it is to take immediate measures in cases of risky situations. Unfortunately, many companies do not take into consideration such a serious aspect and this only leads to serious financial problems.

  3. Conditional dynamics driving financial markets

    Science.gov (United States)

    Boguñá, M.; Masoliver, J.

    2004-08-01

    We revisit the problem of daily correlations in speculative prices and report empirical evidences on the existence of what we term a conditional or dual dynamics driving the evolution of financial assets. This dynamics is detected in several markets around the world and for different historical periods. In particular, we have analyzed the DJIA database from 1900 to 2002 as well as 65 companies trading in the LIFFE market of futures and 12 of the major European and American treasury bonds. In all cases, we find a twofold dynamics driving the financial evolution depending on whether the previous price went up or down. We conjecture that this effect is universal and intrinsic to all markets.

  4. Essays on financial liberalization

    OpenAIRE

    Bumann, Silke

    2015-01-01

    This thesis investigates the effect of financial liberalization on economic growth, income inequality and financial instability. Chapter 1 describes aim and scope of the thesis. Chapter 2 provides a meta-analysis of the literature on financial liberalization and economic growth. It is found that financial liberalization has a positive, albeit weak effect on growth. Chapter 3 presents a theoretical model to study the relationship between financial liberalization and income inequality. The mode...

  5. Index of Financial Inclusion

    OpenAIRE

    Mandira Sarma

    2008-01-01

    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...

  6. Financial planning

    OpenAIRE

    Χατζηγώγου, Αρτεμις Π.

    2003-01-01

    Σκοπός της μελέτης αυτής, είναι η συγκέντρωση όλων των στοιχείων εκείνων που συνθέτουν μια οργανωμένη διαδικασία έρευνας, που είναι γνωστή ως Financial Planning. Θα μπορούσαμε εναλλακτικά να πούμε, ότι βασικά ο χρηματοοικονομικός σχεδιασμός προγραμματίζει, εξευρίσκει και χρησιμοποιεί τα κεφάλαια με τέτοιο τρόπο ώστε η συνεισφορά τους να είναι μεγαλύτερη στην αποτελεσματική λειτουργία της οικονομικής μονάδας. Παρέχει τις γνώσεις των χρηματιστικών αγορών από όπου αντλούνται τα κεφάλαια. Οδηγεί ...

  7. Chronic daily headaches

    Directory of Open Access Journals (Sweden)

    Fayyaz Ahmed

    2012-01-01

    Full Text Available Chronic Daily Headache is a descriptive term that includes disorders with headaches on more days than not and affects 4% of the general population. The condition has a debilitating effect on individuals and society through direct cost to healthcare and indirectly to the economy in general. To successfully manage chronic daily headache syndromes it is important to exclude secondary causes with comprehensive history and relevant investigations; identify risk factors that predict its development and recognise its sub-types to appropriately manage the condition. Chronic migraine, chronic tension-type headache, new daily persistent headache and medication overuse headache accounts for the vast majority of chronic daily headaches. The scope of this article is to review the primary headache disorders. Secondary headaches are not discussed except medication overuse headache that often accompanies primary headache disorders. The article critically reviews the literature on the current understanding of daily headache disorders focusing in particular on recent developments in the treatment of frequent headaches.

  8. Modeled future peak streamflows in four coastal Maine rivers

    Science.gov (United States)

    Hodgkins, Glenn A.; Dudley, Robert W.

    2013-01-01

    To safely and economically design bridges and culverts, it is necessary to compute the magnitude of peak streamflows that have specified annual exceedance probabilities (AEPs). Annual precipitation and air temperature in the northeastern United States are, in general, projected to increase during the 21st century. It is therefore important for engineers and resource managers to understand how peak flows may change in the future. This report, prepared in cooperation with the Maine Department of Transportation (MaineDOT), presents modeled changes in peak flows at four basins in coastal Maine on the basis of projected changes in air temperature and precipitation. To estimate future peak streamflows at the four basins in this study, historical values for climate (temperature and precipitation) in the basins were adjusted by different amounts and input to a hydrologic model of each study basin. To encompass the projected changes in climate in coastal Maine by the end of the 21st century, air temperatures were adjusted by four different amounts, from -3.6 degrees Fahrenheit (ºF) (-2 degrees Celsius (ºC)) to +10.8 ºF (+6 ºC) of observed temperatures. Precipitation was adjusted by three different percentage values from -15 percent to +30 percent of observed precipitation. The resulting 20 combinations of temperature and precipitation changes (includes the no-change scenarios) were input to Precipitation-Runoff Modeling System (PRMS) watershed models, and annual daily maximum peak flows were calculated for each combination. Modeled peak flows from the adjusted changes in temperature and precipitation were compared to unadjusted (historical) modeled peak flows. Annual daily maximum peak flows increase or decrease, depending on whether temperature or precipitation is adjusted; increases in air temperature (with no change in precipitation) lead to decreases in peak flows, whereas increases in precipitation (with no change in temperature) lead to increases in peak flows. As

  9. Financial analysis as a financial management instrument

    Directory of Open Access Journals (Sweden)

    Stehlíková Beáta

    2001-12-01

    Full Text Available The financial market is one of the elements of the market-oriented economy. The financial analysis is a fundamental element of the financial controlling business. The purpose of this article is to inform briefly about horizontal and vertical financial statements analysis as the source of competitive advantage of the firm. The article is divided into two parts. First describes financial analysis and financial statements generally. Second, it presents a practical contribution of the horizontal and vertical financial statements analysis at the controlled businesses as financial management tools, which identify the financial position, market behaviour, correlations between the net profit and the prohibitively cost and operating profit, the financial activities profit, the income tax etc.Business, which the analysed firm operates in asks a provable claim on the high value of fixed assets. The capital composition of the firm is call to typify for the state-owned enterprise that was transformed to private joint-stock companies. Analysis is specially pleading for the needs considering the price of the borrowed capital in the capital structure rating. Fault factor ø value talks about needs for the cost regulation. Stair-step conception used for counting of the net profit in the accountant period indicates the financial profit, alternatively loss, as the distinguished pre-tax profit element. Picture about firm’s financial results can be completed with the information about the income tax value. Form of financial analyses presented in the article entablature the accents on the necessity to compare several accounting period and on the necessity of complex understanding of statements accounting slide “en bloc”.Financial analyse makes the decision makers possible to screen potential partners before the cooperation starts. On the other side, it makes a possibility to influence the production process, sales and financial management during the accounting

  10. Financial Ratios and Perceived Household Financial Satisfaction

    Directory of Open Access Journals (Sweden)

    Scott Garrett

    2013-08-01

    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.

  11. Financial Globalization, Financial Crises and Contagion

    OpenAIRE

    Vincenzo Quadrini; Enrique G. Mendoza

    2010-01-01

    Two observations suggest that financial globalization played an important role in the recent financial crisis. First, more than half of the rise in net borrowing of the U.S. nonfinancial sectors since the mid 1980s has been financed by foreign lending. Second, the collapse of the U.S. housing and mortgage-backed-securities markets had worldwide effects on financial institutions and asset markets. Using an open-economy model where financial intermediaries play a central role, we show that fina...

  12. Significance Tests for Periodogram Peaks

    CERN Document Server

    Frescura, F A M; Frank, B S

    2007-01-01

    We discuss methods currently in use for determining the significance of peaks in the periodograms of time series. We discuss some general methods for constructing significance tests, false alarm probability functions, and the role played in these by independent random variables and by empirical and theoretical cumulative distribution functions. We also discuss the concept of "independent frequencies" in periodogram analysis. We propose a practical method for estimating the significance of periodogram peaks, applicable to all time series irrespective of the spacing of the data. This method, based on Monte Carlo simulations, produces significance tests that are tailor-made for any given astronomical time series.

  13. Global Historical Climatology Network - Daily (GHCN-Daily), Version 3

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — The Global Historical Climatology Network - Daily (GHCN-Daily) dataset integrates daily climate observations from approximately 30 different data sources. Version 3...

  14. Health, Financial Incentives and Retirement in Spain

    NARCIS (Netherlands)

    E. Erdogan-Ciftci (Esen); E.K.A. van Doorslaer (Eddy); A. Lopez-Nicolas (Angel)

    2008-01-01

    textabstractWe estimate the impact of health and financial incentives on the retirement transitions of older workers in Spain. Individual measures of pension wealth, peak and accrual values are constructed using labor market histories and health shocks are derived as changes in a composite health st

  15. Hubbert's Peak -- A Physicist's View

    Science.gov (United States)

    McDonald, Richard

    2011-04-01

    Oil, as used in agriculture and transportation, is the lifeblood of modern society. It is finite in quantity and will someday be exhausted. In 1956, Hubbert proposed a theory of resource production and applied it successfully to predict peak U.S. oil production in 1970. Bartlett extended this work in publications and lectures on the finite nature of oil and its production peak and depletion. Both Hubbert and Bartlett place peak world oil production at a similar time, essentially now. Central to these analyses are estimates of total ``oil in place'' obtained from engineering studies of oil reservoirs as this quantity determines the area under the Hubbert's Peak. Knowing the production history and the total oil in place allows us to make estimates of reserves, and therefore future oil availability. We will then examine reserves data for various countries, in particular OPEC countries, and see if these data tell us anything about the future availability of oil. Finally, we will comment on synthetic oil and the possibility of carbon-neutral synthetic oil for a sustainable future.

  16. Practical C++ financial programming

    CERN Document Server

    Oliveira, Carlos

    2015-01-01

    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

  17. Discriminate Modelling of Peak and Off-Peak Motorway Capacity

    Directory of Open Access Journals (Sweden)

    Hashim Mohammed Alhassan

    2013-02-01

    Full Text Available Traffic theory is concerned with the movement of discrete objects in real time over a finite network in 2 Dimensions. It is compatible with or dependent on fundamental diagram of traffic. Without question traffic flow is an essential quantitative parameter that is used in planning, designs and roadway improvements.  Road capacity is significant because it is an important indicator of road performance and can point road managers in the right road maintenance and traffic management direction. In this paper four direct empirical capacity measurement methods have been considered. To test the efficacy of each method, data for peak period, off-peak and transition to peak have been used. The headway and the volume methods lack predictive capability and are suitable only for current assessment of flow rates.  The product limit method is weak in its predictive capability in view of the arbitrariness in the selection of the capacity value. It is also an extreme value method; hence not all volume data can be used with this method. The fundamental diagram method has good predictive capability and furnishes capacity values consistent with the standard of the facility. Unlike other methods, it does not rely on bottleneck conditions to deliver the capacity value.  The paper concluded that each method is uniquely suited to prevailing conditions and can be so employed.

  18. Toothbrushing: Do It Daily.

    Science.gov (United States)

    Texas Child Care, 1993

    1993-01-01

    Offers a practical guide for promoting daily toothbrushing in young children. Discusses the importance of proper dental care, explains the causes of tooth decay, describes proper dental care for infants and young children, recommends materials and teaching methods, and discusses visits to the dentist and the benefits of fluoride for dental health.…

  19. The Strategic Attitude: Integrating Strategic Planning into Daily University Worklife

    Science.gov (United States)

    Dickmeyer, Nathan

    2004-01-01

    Chief financial officers in today's universities are so busy with the challenges of day-to-day management that strategic thinking often takes a back seat. Planning for strategic change can go a long way toward streamlining the very daily tasks that obscure the "big picture." Learning how to integrate strategic thinking into day-to-day management…

  20. Financial Literacy, Confidence and Financial Advice Seeking

    NARCIS (Netherlands)

    Kramer, Marc M.

    2016-01-01

    We find that people with higher confidence in their own financial literacy are less likely to seek financial advice, but no relation between objective measures of literacy and advice seeking. The negative association between confidence and advice seeking is more pronounced among wealthy households.

  1. CMS Financial Reports

    Data.gov (United States)

    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 major...

  2. Halter Financial Summit

    Institute of Scientific and Technical Information of China (English)

    2010-01-01

    <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,

  3. Financial Integrity Benchmarks

    Data.gov (United States)

    City of Jackson, Mississippi — This data compiles standard financial integrity benchmarks that allow the City to measure its financial standing. It measure the City's debt ratio and bond ratings....

  4. Domesticizing Financial Economies

    DEFF Research Database (Denmark)

    Deville, Joe; Lazarus, Jeanne; Luzzi, Mariana

    of research. We use the term “domesticizing financial economies” to collect what we think are four key trajectories. First: “the financialization of the domestic”: certainly debt and finance are more than 5000 years old, but new type of agents and technologies – such as online payday lending, mobile money......, payment cards – characterize the financial ecologies people around the world face. Second; “the domestizisation of finance”: financial technologies do not only financialize the domestic, they are continuously domesticized as many recent studies on ordinary accounting, earmarking, informal circuits of debt...... show. Third, the “domestication of financial economies”: financial literacy programs developed by governmental bodies, international organizations, and banks have become a ubiquitous layer attached to the assemblage of financial economies in many countries. And last but not least, “domesticizing social...

  5. CMS Financial Reports

    Data.gov (United States)

    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 major...

  6. Financial Education Program Evaluation

    Directory of Open Access Journals (Sweden)

    Diana Burk

    2014-02-01

    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.

  7. Longitudinal peak detected Schottky spectrum

    CERN Document Server

    Shaposhnikova, E

    2009-01-01

    The "peak detected Schottky" spectrum is a diagnostic used since the late seventies for beam observation in the SPS and now already applied to the LHC. This tool was always believed, however without proof, to give a good picture of the particle distribution in synchrotron frequencies similar to the longitudinal Schottky spectrum of unbunched beam for revolution frequencies.In this paper an analysis of this measurement technique is presented both in a general form and for the particular realisation in the SPS. In addition the limitations of the present experimental set-up are discussed together with possible improvements. The analysis shows that for an optimised experimental set-up the spectrum of the peak detected signal is very close to the synchrotron frequency distribution inside the bunch - much closer than that given by the traditional longitudinal bunched-beam Schottky spectrum.

  8. Favorable Financial Turf

    Institute of Scientific and Technical Information of China (English)

    2006-01-01

    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-

  9. Risk in financial reporting

    OpenAIRE

    Tsatsaronis, Kostas; Claudio E. V. Borio

    2015-01-01

    Advances in risk measurement technology have reshaped financial markets and the functioning of the financial system. More recently, they have been reshaping the prudential framework. Looking forward, they have the potential to reshape financial reporting too. Recent initiatives to improve financial reporting standards have brought to the fore significant differences in perspective between accounting standard setters and prudential authorities. Building on previous work, we argue that risk mea...

  10. Korea : Financial Sector Assessment

    OpenAIRE

    World Bank; International Monetary Fund

    2003-01-01

    Since the financial crisis in 1997-98, Korea has made major progress in financial, and corporate sector reform - the supervisory and regulatory regime for the financial sector has been substantially strengthened, and recent reforms helped achieve a high degree of observance of international standards, and codes. Moreover, significant consolidation in the banking system took place, with ban...

  11. Essays on financial liberalization

    NARCIS (Netherlands)

    Bumann, Silke

    2015-01-01

    This thesis investigates the effect of financial liberalization on economic growth, income inequality and financial instability. Chapter 1 describes aim and scope of the thesis. Chapter 2 provides a meta-analysis of the literature on financial liberalization and economic growth. It is found that fin

  12. Invest in Financial Literacy

    Science.gov (United States)

    Bush, Sarah B.; McGatha, Maggie B.; Bay-Williams, Jennifer M.

    2012-01-01

    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…

  13. Financial Advice: Who Pays

    Science.gov (United States)

    Finke, Michael S.; Huston, Sandra J.; Winchester, Danielle D.

    2011-01-01

    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…

  14. Essays on financial liberalization

    NARCIS (Netherlands)

    Bumann, Silke

    2015-01-01

    This thesis investigates the effect of financial liberalization on economic growth, income inequality and financial instability. Chapter 1 describes aim and scope of the thesis. Chapter 2 provides a meta-analysis of the literature on financial liberalization and economic growth. It is found that

  15. Making Daily Mobility

    DEFF Research Database (Denmark)

    Jensen, Ole B.; Wind, Simon

    , social networks, understanding of places and ultimately ourselves and others. To successfully accomplish everyday life, households have to cope with large number of different activities and mobility in relation to their children, work, social life, obligations, expectations, needs and wishes. Drawing...... practice configurations. The paper draws on empirical material collected from the project ‘Analysis of activity-based travel chains and sustainable mobility’ (ACTUM WP2), consisting of qualitative semi-structured interviews with 45 respondents in 11 children families spread across the Greater Copenhagen...... accomplishing daily life. The study also shows that practices need constant maintenance as they are continuously de-stabilised by changing conditions and situations. This careful and competent work involved in the maintenance and adjustment of daily practices is done in relation to the household member...

  16. Making Daily Mobility

    DEFF Research Database (Denmark)

    Jensen, Ole B.; Wind, Simon

    ’s normative and affective orientation towards daily mobility, spanning from being a ‘waste of time’ to being a ‘meaningful’ activity. For instance, besides fulfilling a practical purpose, mobility practices are often ‘mobile-with’ constellations of synchronised, however temporal, movement and thus household......In 2012 the average daily transportation distance for every Dane were 40 km (TU Data). Realising how much of life is spend thinking about, planning and performing mobility practices it becomes evident that it is much more than an instrumental physical phenomenon – it has great repercussions on life......, social networks, understanding of places and ultimately ourselves and others. To successfully accomplish everyday life, households have to cope with large number of different activities and mobility in relation to their children, work, social life, obligations, expectations, needs and wishes. Drawing...

  17. In a Peak Fitness Condition?

    DEFF Research Database (Denmark)

    Storm, Rasmus K.; Nielsen, Klaus

    2010-01-01

    managerial efforts with regard to Danish elite sports? The analysis finds the Danish elite sports organization, Team Danmark, well prepared and fit for the future challenges. Still, though, areas such as talent identification and development and division of roles and responsibilities, are in need...... increased, the market has adapted by raising the overall price of a medal. As a direct consequence managerial efficiency can be a 'non-financial' tool for nations to enhance the chances of success. The purpose of this article is to describe the internationalisation of elite sports together with analysing...... of improvement in order to strengthen the managerial efficiency. Furthermore the question of more funding is discussed.  Recently the Danish medal standings have been deteriorating which has initiated requests for more funding and the political response could be increased public funds....

  18. Drivers of peak sales for pharmaceutical brands

    NARCIS (Netherlands)

    Fischer, Marc; Leeflang, Peter S. H.; Verhoef, Peter C.

    2010-01-01

    Peak sales are an important metric in the pharmaceutical industry. Specifically, managers are focused on the height-of-peak-sales and the time required achieving peak sales. We analyze how order of entry and quality affect the level of peak sales and the time-to-peak-sales of pharmaceutical brands.

  19. Sources of Financial Sociability

    DEFF Research Database (Denmark)

    Thompson, Grahame

    2011-01-01

    This article investigates the sources of sociability in modern financial systems as a prelude to assessing the prospects for financial regulation. Three sources are identified: sociality dependent upon contract, upon relational interdependency, and upon the operation of will and passion. Each...... 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...

  20. Financial information processing

    Institute of Scientific and Technical Information of China (English)

    Shuo BAI; Shouyang WANG; Lean YU; Aoying ZHOU

    2009-01-01

    @@ 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.

  1. FINANCIAL INSTABILITY IN ROMANIA

    Directory of Open Access Journals (Sweden)

    Cristian, IONESCU

    2014-11-01

    Full Text Available 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 measures and also giving some measures recommendations, pointing out the main pillars: crises management; cross-sectoral challenges; banking sector; securities markets and capital markets; insurance sector; pensions sector; access to financial services.

  2. Financial Lessons Learned

    Institute of Scientific and Technical Information of China (English)

    2010-01-01

    @@ 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:

  3. Financial Lessons Learned

    Institute of Scientific and Technical Information of China (English)

    2010-01-01

    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

  4. Presenting practice financial information.

    Science.gov (United States)

    Webster, Lee Ann H

    2007-01-01

    Medical practice leadership teams, often consisting primarily of physicians with limited financial backgrounds, must make important business decisions and continuously monitor practice operations. In order to competently perform this duty, they need financial reports that are relevant and easy to understand. This article explores financial reporting and decision-making in a physician practice. It discusses reports and tools, such as ratios, graphs, and comparisons, that practices typically include in their reports. Because profitability and cash flow are often the most important financial considerations for physician practices, reports should generally focus on the impact of various activities and potential decisions upon these concerns. This article also provides communication tips for both those presenting practice financial information and those making the decisions. By communicating effectively, these leaders can best use financial information to improve decision-making and maximize financial performance.

  5. Interactive Financial Charts- Agency Financial Reports

    Data.gov (United States)

    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.

  6. Non performing loans: Obstacles within financial and economy sector

    Directory of Open Access Journals (Sweden)

    Mitrović Ranka

    2014-01-01

    Full Text Available Growth and development of company depend on the adequate selection of financial resources and optimization of financial structure. In other words, the success of a company is determined by the choice of high-quality financial sources and their maturity adjustment. In developed economic and developed financial systems, companies have a wide range of financial sources: emissions of shares, bonds, emissions of other long-term and short-term securities, borrowing from the bank and alternative sources of financing. However, the developing countries and undeveloped countries addressed to financial resources of investors and loans from banking institutions. In this context, it is necessary to build a stable banking system, which will support the strategic development of the company and provide daily liquidity of companies.

  7. Beijing: Next International Financial Hub?

    Institute of Scientific and Technical Information of China (English)

    Li Zhen

    2008-01-01

    @@ 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.

  8. Daily changes of peak expiratory flow and respiratory symptom occurrence around a soy processing factory

    NARCIS (Netherlands)

    Heederik, Dick; Doekes, Gert; van Strien, Rob; Brunekreef, Bert

    2014-01-01

    Objectives. To evaluate sensitization and acute respiratory health effects in inhabitants living in the vicinity of a factory producing soy oil. Methods. Two panels of potential responders were created on the basis of a response to a short screening questionnaire sent to random samples of 1,000 expo

  9. Baby-Boomers and the Romanian Financial System

    Directory of Open Access Journals (Sweden)

    Tudor Ciumara

    2014-03-01

    Full Text Available This paper analyses the possible contribution of the over-represented “decree” generation of the 1960’s and 1970’s to the development of the Romanian financial system. Contrary to most other studies on the subject, the focus of this paper is on the financial impact this generation can have before reaching retirement age. Consequently, the analysis is centered on the interaction between the members of this generation and the local financial institutions in the next two decades. It is suggested that the time frame used for this study is better suited for the strategic analysis requirements of financial institutions. It is argued that this generation is maturing professionally and moving towards reaching its financial peak in terms of individual earnings. Therefore, one of the main conclusions of the paper is that financial institutions should adjust their strategies in order to benefit from a significant opportunity

  10. 75 FR 38469 - Orders Finding That the Mid-C Financial Peak Contract and Mid-C Financial Off-Peak Contract...

    Science.gov (United States)

    2010-07-02

    ..., Offered for Trading on the IntercontinentalExchange, Inc., Perform a Significant Price Discovery Function AGENCY: Commodity Futures Trading Commission. ACTION: Final orders. SUMMARY: On October 6, 2009, the.... Price, Industry Economist, Division of Market Oversight, Commodity Futures Trading Commission, Three...

  11. Daily hassles in a population of Romanian adolescents

    Directory of Open Access Journals (Sweden)

    Bogdan Nemeş

    2011-12-01

    Full Text Available Objective: The present study is aimed to identify the most important long-term stressors for Romanian adolescents. Material and Methods: 1143 randomly selected Romanian subjects were considered. Mean age in the study sample was 15.02, with a standard deviation (SD of 0.371. About 65.4% of subjects were females. Daily hassles related to the family environment, physical state, psychological status, financial status of the family and interpersonal relationships were covered Results: 22.7% of the subjects reported daily hassles related to their familial environment, 7.8% reported daily hassles related to their physical state, 59.6% reported daily hassles related to their psychological state, 41.9% reported financial difficulties of their families and 4.4% of adolescent reported being bullied. Conclusion: Stressors that appear to be most relevant for adolescents in north-western Romania are: financial difficulties of the family and psychological difficulties. There are no differences in reporting bullying between genders and that this phenomenon is less frequent in Romania. A greater attention should be paid to the effects of workforce migration.

  12. Hurst Exponent Analysis of Financial Time Series

    Institute of Scientific and Technical Information of China (English)

    2001-01-01

    Statistical properties of stock market time series and the implication of their Hurst exponents are discussed. Hurst exponents of DJ1A (Dow Jones Industrial Average) components are tested using re-scaled range analysis. In addition to the original stock return series, the linear prediction errors of the daily returns are also tested. Numerical results show that the Hurst exponent analysis can provide some information about the statistical properties of the financial time series.

  13. A New Approach to Measuring Financial Contagion

    OpenAIRE

    Kee-Hong Bae; G. Andrew Karolyi; Rene M. Stulz

    2000-01-01

    This paper proposes a new approach to evaluate contagion in financial markets. Our measure of contagion captures the co-incidence of extreme return shocks across countries within a region and across regions that cannot be explained by linear propagation models of shocks. We characterize the extent of contagion, its economic significance, and its determinants using a multinomial logistic regression model. Applying our approach to daily returns of emerging markets during the 1990s, we find that...

  14. INTERCONTINENTAL FINANCIAL STREET BEIJING

    Institute of Scientific and Technical Information of China (English)

    ZHANGCHUNYUE; FENGJIAYUN

    2005-01-01

    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,

  15. Financial planning. Budgeting.

    Science.gov (United States)

    Warner, S

    1984-01-01

    A short-term financial plan (STFP) is like a road map--you are more likely to reach your destination (financial goals) with one than without. A STFP need not be a drudge; a well-designed plan must be so comprehensive so as to include personal freedom money and even small luxuries. Once started, it actually becomes rewarding and fun to see your financial goals coming to fruition.

  16. Judge Financial, Administrative Judge

    OpenAIRE

    Kurek, Aline

    2010-01-01

    As a specialised administrative judge, the financial judge, understood in the sense of the Auditors Court, of the regional Auditors Courts and of the Court of budgetary and financial discipline, has a ratione materiae jurisdiction. It is the judge's duty to ensure compliance with budgetary and national accounting rules. The perspective tending to view the financial judge as a administrative judge, that is to say as an ordinary administrative judge, may consequently give rise to certain object...

  17. Central bank Financial Independence

    OpenAIRE

    J.Ramon Martinez-Resano

    2004-01-01

    Central bank independence is a multifaceted institutional design. The financial component has been seldom analysed. This paper intends to set a comprehensive conceptual background for central bank financial independence. Quite often central banks are modelled as robot like maximizers of some goal. This perspective neglects the fact that central bank functions are inevitably deployed on its balance sheet and have effects on its income statement. A financially independent central bank exhibits ...

  18. Financial Liberalization Or Repression?

    OpenAIRE

    Ang, James

    2009-01-01

    While financial liberalization has always been advocated in developing countries, experiences with it do not always produce desirable outcomes. In order to evaluate the costs and benefits associated with financial liberalization and repression, this study highlights that the overall effectiveness of the reform programs depends on the relative strength of each financial sector policy implemented. Using India as a case study, the results indicate that interest rate controls, statutory liquidity...

  19. Daily sperm production

    DEFF Research Database (Denmark)

    Kyjovska, Zdenka Orabi; Boisen, Anne Mette Zenner; Jackson, Petra

    2013-01-01

    instillation with Printex90. Body and testicle weight, sperm content per g testicular parenchyma and daily sperm production (DSP) were assessed. The protocol for assessment of DSP was optimized for application in mice (C57BL/6J) and the influence of different parameters was studied. Maternal particulate...... exposure did not affect DSP statistically significantly in the F1 generation, although TiO2 tended to reduce sperm counts. Overall, time-to-first F2 litter increased with decreasing sperm production. There was no effect on sperm production in the F2 generation originating after TiO2 exposure. F2 offspring......, whose fathers were prenatally exposed to Printex90, showed lowered sperm production. Furthermore, we report statistically significant differences in sperm production between mouse strains....

  20. Physics in daily life

    CERN Document Server

    Hermans, Jo

    2012-01-01

    This book provides answers to everyday questions that any curious mind would ask, like : Why is water blue ? What makes ice so slippery ? How do we localize sound ? How do we keep our body temperature so nice and constant ? How do we survive the sauna at 90 C ? Why do large raindrops fall faster than small ones, and what exactly is their speed ? The answers are given in an accessible and playful way, and are illustrated with funny cartoons. In this book forty "Physics in Daily Life" columns, which appeared earlier in Europhysics News, are brought together in one inspiring volume. As well as being a source of enjoyment and satisfying insights for anyone with some physics background, it also serves as a very good teaching tool for science students. This booklet is a feast of erudition and humour.

  1. Financial modeling: Rx for financial success.

    Science.gov (United States)

    Marino, D

    2001-01-01

    In an era of managed care, cost cutting and finding ways to increase revenue are key goals in the survival of group practices. Many practices find that they have to boost their revenue by a certain amount (for example, 20-30% within the next three years) to maintain viability in the health care marketplace. Understanding how to generate that revenue and influence short-term and long-term financial outcomes is a far trickier process. This article details how practice administrators can influence a practice's bottom line through a three-step process: (1) identify the components of the practice's financial performance and drivers of performance results, (2) diagnose the practice's current financial situation, and (3) pinpoint benchmarks and targets for success.

  2. Neurofeedback training for peak performance

    Directory of Open Access Journals (Sweden)

    Marek Graczyk

    2014-11-01

    Full Text Available [b]aim[/b]. One of the applications of the Neurofeedback methodology is peak performance in sport. The protocols of the neurofeedback are usually based on an assessment of the spectral parameters of spontaneous EEG in resting state conditions. The aim of the paper was to study whether the intensive neurofeedback training of a well-functioning Olympic athlete who has lost his performance confidence after injury in sport, could change the brain functioning reflected in changes in spontaneous EEG and event related potentials (ERPs. [b]case study[/b]. The case is presented of an Olympic athlete who has lost his performance confidence after injury in sport. He wanted to resume his activities by means of neurofeedback training. His QEEG/ERP parameters were assessed before and after 4 intensive sessions of neurotherapy. Dramatic and statistically significant changes that could not be explained by error measurement were observed in the patient. [b]conclusion[/b]. Neurofeedback training in the subject under study increased the amplitude of the monitoring component of ERPs generated in the anterior cingulate cortex, accompanied by an increase in beta activity over the medial prefrontal cortex. Taking these changes together, it can be concluded that that even a few sessions of neurofeedback in a high performance brain can significantly activate the prefrontal cortical areas associated with increasing confidence in sport performance.

  3. Peak Detection Using Wavelet Transform

    Directory of Open Access Journals (Sweden)

    Omar Daoud

    2014-07-01

    Full Text Available A new work based-wavelet transform is designed to o vercome one of the main drawbacks that found in the present new technologies. Orthogonal Frequency Divi sion Multiplexing (OFDMis proposed in the literature to enhance the multimedia resolution. Ho wever, the high peak power (PAPR values will obstr uct such achievements. Therefore, a new proposition is found in this work, making use of the wavelet transforms methods, and it is divided into three ma in stages; de-noising stage, thresholding stage and then the replacement stage. In order to check the system stages validity; a mat hematical model has been built and its checked afte r using a MATLAB simulation. A simulated bit error ra te (BER achievement will be compared with our previously published work, where an enhancement fro m 8×10 -1 to be 5×10 -1 is achieved. Moreover, these results will be compared to the work found in the l iterature, where we have accomplished around 27% PAPR extra reduction. As a result, the BER performance has been improved for the same bandwidth occupancy. Moreover and due to the de-noise stage, the verification rate ha s been improved to reach 81%. This is in addition t o the noise immunity enhancement.

  4. Financial crises and volatility spillovers among emerging European equity markets

    OpenAIRE

    Ugur Ergun; Zehra Mahmutović

    2014-01-01

    Financial crisis not only have statistically but also economically significant impact on global equity market returns. This study analyzes whether current financial crisis affect the equity market returns of Balkan transition economies and what is the extent of such impact by employing Generalized Autoregressive Conditional Heteroscedasticity model is employed on daily data spans from 2006 to 2012 for three transition economies which are Bosnia-Herzegovina, Croatia and Serbia. Empirical resul...

  5. Financial crises and volatility spillovers among emerging European equity markets.

    OpenAIRE

    Ugur Ergun, Zehra Mahmutović.

    2014-01-01

    Financial crisis not only have statistically but also economically significant impact on global equity market returns. This study analyzes whether current financial crisis affect the equity market returns of Balkan transition economies and what is the extent of such impact by employing Generalized Autoregressive Conditional Heteroscedasticity model is employed on daily data spans from 2006 to 2012 for three transition economies which are Bosnia-Herzegovina, Croatia and Serbia. Empirical resul...

  6. Dynamic Portfolio Selection on Croatian Financial Markets: MGARCH Approach

    Directory of Open Access Journals (Sweden)

    Škrinjarić Tihana

    2016-09-01

    Full Text Available Background: Investors on financial markets are interested in finding trading strategies which could enable them to beat the market. They always look for best possibilities to achieve above-average returns and manage risks successfully. MGARCH methodology (Multivariate Generalized Autoregressive Conditional Heteroskedasticity makes it possible to model changing risks and return dynamics on financial markets on a daily basis. The results could be used in order to enhance portfolio formation and restructuring over time.

  7. Financial Wealth Distribution in Revised Financial Accounts

    Directory of Open Access Journals (Sweden)

    Václav Rybáček

    2012-09-01

    Full Text Available Financial statistics undergo dynamic evolution as apparent consequence of their rising importance. Structureof assets, source of fi nancing, price changes or net fi nancial position, all these indicators can detect oncomingfi nancial instability. Financial statistics as a logical extension of the national accounts provide such information.Th e aim of the following text is to present fi nancial statistics, relation between particular accounts, the impact of extraordinary revision carried out in 2011, and also to analyse current wealth distribution as described by fi nancial statistics.

  8. Edificio Daily Mirror

    Directory of Open Access Journals (Sweden)

    Williams, Owen

    1963-07-01

    Full Text Available The building has 18 levels. The Press occupies the 4 basement floors. The ground floor is taken up with the entrance hall, and an indoor carriage way. A snack bar and the telephone operators are situated on the second floor. The production department and the medical services are located on the third storey, whilst the fourth is occupied by the offices and library. The fifth floor is the beginning of the higher section of the building. This floor and up to including the 11th floor are devoted to office space, except for the 10th storey, which contains the office apartments of the directors and the Council Chamber. Equipment related to various services of the building is housed on the 12th storey. Finally, this tall building constitutes a fine landmark in the London skyline. The Daily Mirror building is outstanding for the appropriate nature, the completeness and the quality of its installations, which thus provide the most widely read paper in the world with outstandingly efficient offices.Este edificio consta de 18 plantas. El cuerpo de Prensa se aloja en los cuatro sótanos; los vestíbulos de entrada y una calzada interior para vehículos se hallan en la planta baja; la primera alberga un snack-bar y centralita telefónica; la segunda, el departamento de producción y centro de asistencia médica, y la tercera, las oficinas y biblioteca principales. La cuarta planta señala el comienzo del bloque alto; esta planta, junto con las quinta, sexta, séptima, octava y décima, están dedicadas a oficinas. La novena contiene las oficinas-apartamentos de los directores y salas de Consejo, y la undécima, la maquinaria para las diversas instalaciones del edificio. La elevada torre constituye un grandioso hito de referencia en esta zona de Londres. El «Daily Mirror» se distingue por el acierto, número y perfección de sus instalaciones, que proporcionan, al periódico de mayor actualidad mundial, las más adecuadas y amplias oficinas modernas.

  9. Energy Saving by Chopping off Peak Demand Using Day Light

    Directory of Open Access Journals (Sweden)

    Ashok Kumar Maitra

    2011-08-01

    Full Text Available An artificial intelligent technique has been implemented in this research using real time datas to calculate how much energy can be chopped from peak load demand. The results are based on real time data that are taken from power delivering centers. These datas do reflect the present condition of power and a solution to those critical conditions during the peak period. These are done in such a way such that helps in judicious scheduling of load. The time based load scheduling has been done so as to understand the basic criteria for solving power crisis during morning peak and early evening peak. The sunray availability and percentage of load that will use day light saving (DLS technique has been taken into account in this work. The results shows that about 0.5% to 1% of load can be shedded off from the peak load period which otherwise is reduction of power. Thus it otherwise also means that an equivalent amount of energy is saved which amounts to a large saving of national money. This result is obtained on monthly and even daily basis. Thus this paper justifies DLS gives a new renewable technique to save energy.

  10. Late Financial Distress Process Stages and Financial Ratios

    DEFF Research Database (Denmark)

    Sormunen, Nina; Laitinen, Teija

    2012-01-01

    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...... stage affects the classification ability of single financial ratios and financial distress prediction models in short-term financial distress prediction. The study shows that the auditor's GC task could be supported by paying attention to the financial distress process stage. The implications......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...

  11. Household financial behavior

    NARCIS (Netherlands)

    Brounen, Dirk; Koedijk, Kees; Pownall, Rachel

    2016-01-01

    Greater personal responsibility toward financial decision-making is being advocated on a global basis. Individuals and households are encouraged to take a more active approach to personal finance. In this paper, we examine behavioral factors, which lead households toward savings and financial planni

  12. Financial Key Ratios

    Directory of Open Access Journals (Sweden)

    Tănase Alin-Eliodor

    2014-08-01

    Full Text Available 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.

  13. Household financial behavior

    NARCIS (Netherlands)

    Brounen, Dirk; Koedijk, Kees; Pownall, Rachel

    2016-01-01

    Greater personal responsibility toward financial decision-making is being advocated on a global basis. Individuals and households are encouraged to take a more active approach to personal finance. In this paper, we examine behavioral factors, which lead households toward savings and financial

  14. Consolidating Financial Statements.

    Science.gov (United States)

    Wood, Marcia R.

    This publication is designed to be a desktop reference and assist financial officers in both public and independent institutions of higher education in the preparation of consolidated financial statements. Chapter 1 covers generally accepted accounting principles and other accounting literature, and summarizes reporting rules of the Financial…

  15. Financial Crisis Redux?

    Institute of Scientific and Technical Information of China (English)

    2008-01-01

    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

  16. Peak Wind Tool for General Forecasting

    Science.gov (United States)

    Barrett, Joe H., III

    2010-01-01

    The expected peak wind speed of the day is an important forecast element in the 45th Weather Squadron's (45 WS) daily 24-Hour and Weekly Planning Forecasts. The forecasts are used for ground and space launch operations at the Kennedy Space Center (KSC) and Cape Canaveral Air Force Station (CCAFS). The 45 WS also issues wind advisories for KSC/CCAFS when they expect wind gusts to meet or exceed 25 kt, 35 kt and 50 kt thresholds at any level from the surface to 300 ft. The 45 WS forecasters have indicated peak wind speeds are challenging to forecast, particularly in the cool season months of October - April. In Phase I of this task, the Applied Meteorology Unit (AMU) developed a tool to help the 45 WS forecast non-convective winds at KSC/CCAFS for the 24-hour period of 0800 to 0800 local time. The tool was delivered as a Microsoft Excel graphical user interface (GUI). The GUI displayed the forecast of peak wind speed, 5-minute average wind speed at the time of the peak wind, timing of the peak wind and probability the peak speed would meet or exceed 25 kt, 35 kt and 50 kt. For the current task (Phase II ), the 45 WS requested additional observations be used for the creation of the forecast equations by expanding the period of record (POR). Additional parameters were evaluated as predictors, including wind speeds between 500 ft and 3000 ft, static stability classification, Bulk Richardson Number, mixing depth, vertical wind shear, temperature inversion strength and depth and wind direction. Using a verification data set, the AMU compared the performance of the Phase I and II prediction methods. Just as in Phase I, the tool was delivered as a Microsoft Excel GUI. The 45 WS requested the tool also be available in the Meteorological Interactive Data Display System (MIDDS). The AMU first expanded the POR by two years by adding tower observations, surface observations and CCAFS (XMR) soundings for the cool season months of March 2007 to April 2009. The POR was expanded

  17. Interconnectedness of Financial Conglomerates

    Directory of Open Access Journals (Sweden)

    Gaël Hauton

    2015-05-01

    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.

  18. Trusts and Financialization

    DEFF Research Database (Denmark)

    Harrington, Brooke

    2016-01-01

    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 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...

  19. Financial Analysts’ Forecasts

    DEFF Research Database (Denmark)

    Stæhr, Simone

    in the financial forecasts on which they base investment decisions they may end up losing money as a consequence of biased forecasts. Thus, relying primarily on decision theories such as social comparison theory and theories on confirmation bias this thesis investigates how and why pronounced biases in financial......This thesis is broadly concentrated on decision making under uncertainty. It seeks to investigate how agents in financial markets make decisions at the individual level and how these decisions can sometimes be affected by personal traits and cognitive biases rather than being perfectly rational....... The primary focus is on financial analysts in the task of conducting earnings forecasts while a secondary focus is on investors’ abilities to interpret and make use of these forecasts. Simply put, financial analysts can be seen as information intermediators receiving inputs to their analyses from firm...

  20. Facility Location with Double-peaked Preferences

    DEFF Research Database (Denmark)

    Filos-Ratsikas, Aris; Li, Minming; Zhang, Jie

    2015-01-01

    We study the problem of locating a single facility on a real line based on the reports of self-interested agents, when agents have double-peaked preferences, with the peaks being on opposite sides of their locations. We observe that double-peaked preferences capture real-life scenarios and thus...... complement the well-studied notion of single-peaked preferences. We mainly focus on the case where peaks are equidistant from the agents’ locations and discuss how our results extend to more general settings. We show that most of the results for single-peaked preferences do not directly apply to this setting...

  1. Financial Openness and Financial Development: An Analysis Using Indices

    OpenAIRE

    Ozkok, Zeynep

    2010-01-01

    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 comparison to ...

  2. Financial Declines, Financial Behaviors, and Relationship Satisfaction during the Recession

    Directory of Open Access Journals (Sweden)

    Jeffrey P. Dew

    2013-08-01

    Full Text Available Using nationally-representative data collected during the summer of 2009 (N = 575, this study examines how reports of financial declines are associated with financial behaviors and how financial behaviors are associated with relationship satisfaction among cohabiting and married participants. Findings suggested that financial declines were only negatively associated with sound financial management behavior if participants also experienced feelings of economic pressure. Sound financial management behavior was found to be positively associated with marital satisfaction. Finally, sound financial management behavior also moderated the association between financial declines, economic pressure, and relationship satisfaction.

  3. SOME CONSIDERATIONS ON LOCAL FINANCIAL AUTONOMY IN THE CONTEXT OF THE CURRENT FINANCIAL CRISIS

    Directory of Open Access Journals (Sweden)

    Vezure Oana Sabina

    2012-03-01

    Full Text Available Financing of local authorities is currently at the Centre of the political discourse is a daily concern. Romania faces, usually with an attempt to offset the need for control and reduction of public spending with greater financial autonomy of local authorities. At the time, it was searched and searches for a path, a means to achieve a fair distribution of financial resources between the various levels of administration, budget reductions to all of them. If strengthening democracy means to strengthen local autonomy, then it means you have created a system for financing local authorities to be efficient, fair and pointing towards the economic needs of States. In other words, decentralization and local financing and the principle of subsidiarity are mutually dependent. Rightly, the decentralisation of financial management is considered to be the "backbone" of the administrative system of decentralisation, the financial resources being those which are operational link between the needs of local communities and the rules necessary to satisfy them. Thus, the lack of financial resources of the local self-government can result in failure to meet the needs of its members, which at the same time failure of administrative decentralization. The decentralisation of financial management can also be seen as the Government of some specific functions on the line of management authority and the tax revenue to the local public authorities.

  4. The instruments of financial planning

    OpenAIRE

    Durnov, V.

    2011-01-01

    The paper analyzes financial planning efficiency for enterprise management improvement. The author describes the system of financial tools and considers in detail financial planning methods, their strengths and weaknesses

  5. Financial Reforms and Financial Fragility: A Panel Data Analysis

    Directory of Open Access Journals (Sweden)

    Syed Faizan Iftikhar

    2015-04-01

    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.

  6. 27 CFR 9.140 - Atlas Peak.

    Science.gov (United States)

    2010-04-01

    ... 27 Alcohol, Tobacco Products and Firearms 1 2010-04-01 2010-04-01 false Atlas Peak. 9.140 Section... THE TREASURY LIQUORS AMERICAN VITICULTURAL AREAS Approved American Viticultural Areas § 9.140 Atlas Peak. (a) Name. The name of the viticultural area described in this section is “Atlas Peak.”...

  7. Dynamic Evolution of Financial Network and its Relation to Economic Crises

    Science.gov (United States)

    Gao, Ya-Chun; Wei, Zong-Wen; Wang, Bing-Hong

    2013-02-01

    The static topology properties of financial networks have been widely investigated since the work done by Mantegna, yet their dynamic evolution with time is little considered. In this paper, we comprehensively study the dynamic evolution of financial network by a sliding window technique. The vertices and edges of financial network are represented by the stocks from S&P500 components and correlations between pairs of daily returns of price fluctuation, respectively. Furthermore, the duration of stock price fluctuation, spanning from January 4, 1985 to September 14, 2009, makes us to carefully observe the relation between the dynamic topological properties and big financial crashes. The empirical results suggest that the financial network has the robust small-world property when the time evolves, and the topological structure drastically changes when the big financial crashes occur. This correspondence between the dynamic evolution of financial network and big financial crashes may provide a novel view to understand the origin of economic crisis.

  8. Framing financial culture

    DEFF Research Database (Denmark)

    Just, Sine Nørholm; Mouton, Nicolaas T.O.

    2014-01-01

    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....

  9. Financial Hub? Be Patient!

    Institute of Scientific and Technical Information of China (English)

    Guo Yan

    2009-01-01

    @@ In 2009,the central government confirmed the strategic significance of Shanghai as an international financial center.Until now.Shanghai's financial cluster has attracted more and more foreign banks to establish roots jn Shanghai,which has contributed to their rapid development in recent years.The announcement undoubtedly made foreign banks confident of great development potential in the future.But what opportunities could they catch?Also,will this weaken the position of Hong Kong as an International financial center?China's Foreign Trade invited Ms.Katherine Tsang,chief executive officer of Standard Chartered China to share with us her point of view.

  10. Financial Markets and Persistence

    CERN Document Server

    Jain, S

    2005-01-01

    Persistence is studied in a financial context by mapping the time evolution of the values of the shares quoted on the London Financial Times Stock Exchange 100 index (FTSE 100) onto Ising spins. By following the time dependence of the spins, we find evidence for power law decay of the proportion of shares that remain either above or below their ` starting\\rq values. As a result, we estimate a persistence exponent for the underlying financial market to be $\\theta_f\\sim 0.5$.

  11. Persistence in financial markets

    Science.gov (United States)

    Jain, S.; Buckley, P.

    2006-03-01

    Persistence is studied in a financial context by mapping the time evolution of the values of the shares quoted on the London Financial Times Stock Exchange 100 index (FTSE 100) onto Ising spins. By following the time dependence of the spins, we find evidence for power law decay of the proportion of shares that remain either above or below their 'starting' values. As a result, we estimate a persistence exponent for the underlying financial market to be θf˜0.5.

  12. Egypt & Financial Crisis

    OpenAIRE

    2011-01-01

    Financial crisis that occurred in August 2008 was unforeseen, sudden, sharp, and had a great impact on the global financial market. Egypt is one of the countries was affected by this financial crisis as a market economy country, and WTO member. in this paper I will try to study the implication of such crisis on the Egyptian economy in the fields of tourism, Suez canal, oil field, and GDP, not only the economy factor were effected, but also the Egyptian market represented in its compon...

  13. Are financial benefits of financial globalization questionable until greater domestic financial development has taken place?

    OpenAIRE

    Simplice A., Asongu

    2012-01-01

    Purpose – The issue of which financial initial conditions are necessary to materialize the benefits of financial globalization remains open to debate in the literature. In this paper, we try to put some empirical structure on the concept of financial threshold conditions in order to give policymakers guidance on the Kose et al.(2011) and Henry(2007) hypothesis. Its object is to assess if financial benefits of financial globalization are questionable until greater domestic financial developme...

  14. Financial Regulatory Reform: Consumer Financial Protection Proposals

    Science.gov (United States)

    2010-05-26

    decisions subject to judicial review.40 Any generally applicable state consumer law would apply to national banks and thrifts unless it discriminates...provided by existing powers that the bill would transfer from another regulator to the CFPA or an enumerated consumer law , such as the Truth in Lending Act...against them (presumably to the benefit of state-chartered financial institutions) or conflicts with the Act.41 Additionally, any state consumer

  15. Project financial evaluation

    Energy Technology Data Exchange (ETDEWEB)

    None, None

    2009-01-18

    The project financial section of the Renewable Energy Technology Characterizations describes structures and models to support the technical and economic status of emerging renewable energy options for electricity supply.

  16. Basic Financial Accounting

    DEFF Research Database (Denmark)

    Wiborg, Karsten

    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...

  17. Basic Financial Accounting

    DEFF Research Database (Denmark)

    Wiborg, Karsten

    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...

  18. Morocco - Financial Services

    Data.gov (United States)

    Millennium Challenge Corporation — The final evaluation of the Financial Services Project (FSP), undertaken by North South Consultants Exchange (NSCE), was undertaken from 17 April to end of September...

  19. Financial Coaching's Potential for Enhancing Family Financial Security

    Science.gov (United States)

    Collins, J. Michael; Olive, Peggy; O'Rourke, Collin M.

    2013-01-01

    Financial coaching is an emerging complement to financial education and counseling. As defined in this article, financial coaching is a process whereby participants set goals, commit to taking certain actions by specific dates, and are then held accountable by the coach. In this way, financial coaching is designed to help participants bridge the…

  20. Financial Literacy as the Foundation for Individual Financial Behavior

    Science.gov (United States)

    Dwiastanti, Anis

    2015-01-01

    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,…

  1. Financial Coaching's Potential for Enhancing Family Financial Security

    Science.gov (United States)

    Collins, J. Michael; Olive, Peggy; O'Rourke, Collin M.

    2013-01-01

    Financial coaching is an emerging complement to financial education and counseling. As defined in this article, financial coaching is a process whereby participants set goals, commit to taking certain actions by specific dates, and are then held accountable by the coach. In this way, financial coaching is designed to help participants bridge the…

  2. Vanishing Financial Contagion?

    OpenAIRE

    Didier, Tatiana; Mauro, Paolo; Schmukler, Sergio L.

    2008-01-01

    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...

  3. Chaotic Financial Tornadoes

    Science.gov (United States)

    Jakimowicz, Aleksander

    In contemporary economies classic business cycles are increasingly changing their form undergoing a transformation into phenomena that have been nicknamed financial tornados. A generalization of the Lotka-Volterra model can be used to describe these fast-changing processes. Economically speaking, the most useful are such dynamical systems in which wormholes appear. This article features application of a model with one population of prey and two populations of predators in order to explain the global financial crisis and the consequent phenomena.

  4. Steps Toward Financial Viability

    Institute of Scientific and Technical Information of China (English)

    2010-01-01

    @@ 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:

  5. Pharmacokinetic profile of once-daily cyclobenzaprine extended-release.

    Science.gov (United States)

    Darwish, Mona; Hellriegel, Edward T

    2010-11-01

    Cyclobenzaprine immediate-release (CIR) is a widely prescribed skeletal muscle relaxant with an established efficacy and safety profile in patients with muscle spasm associated with acute, painful conditions, although it is commonly associated with sedation. CIR is typically prescribed at a dosage of 10 mg three-times-daily. This review focuses on the pharmacokinetic profile of a new formulation, cyclobenzaprine extended-release (CER), which delivers a sustained plasma cyclobenzaprine concentration over 24 h, allowing once-daily dosing. Results from CER pharmacokinetic studies conducted through August 2010 are summarized. This review provides information on the first four studies assessing the single-dose and steady-state pharmacokinetic profile of CER. Once-daily CER 30 mg and three-times-daily CIR 10 mg produced comparable systemic exposures to cyclobenzaprine, but pharmacokinetic profiles were qualitatively different. CER was characterized by a single daily peak in cyclobenzaprine concentration versus three peaks/day for CIR. With once-daily dosing of CER, cyclobenzaprine concentration is sustained over 24 h. CER 30 mg provides approximately twice the exposure as CER 15 mg. Systemic exposure to CER is increased in the presence of food and in elderly subjects. Steady-state is achieved by day 7 of dosing.

  6. THE FINANCIAL SECTOR IN THE FINANCIAL SYSTEM ECONOMY: THEORETICAL ASPECTS

    Directory of Open Access Journals (Sweden)

    Yu. Kovalenko

    2015-06-01

    Full Text Available Broad and narrow approaches of the financial system are obtained. The difference between the financial system and the financial sector (the fi-nancial corporations sector is shown. Organizational and institutional matrix of the financial system of the economy is proposed. Key positions of institutional sectors classification of Ukraine’s economy are analyzed, as well as the System of National Accounts with respect to the financial sec-tor of corporations. The structure of the sector of financial corporations in Ukraine is defined.

  7. East Asian Financial Cycles: Asian vs. Global Financial Crises

    OpenAIRE

    Akira Kohsaka; Jun-ichi Shinkai

    2014-01-01

    We examine the role of financial shocks in business cycles in general and in financial crises in particular in East Asia (Indonesia, Korea, Malaysia and Thailand) since the 1990s. Estimating a Financial Conditions Index, we found that financial shocks explain most of business downturns in all the economies in the Asian Financial Crisis (AFC) in 1997-98, but that the effects of financial shocks are diverse across economies in the Global Financial Crisis (GFC) in 2008-09. In the GFC, the financ...

  8. On the trail of double peak hydrographs

    Science.gov (United States)

    Martínez-Carreras, Núria; Hissler, Christophe; Gourdol, Laurent; Klaus, Julian; Juilleret, Jérôme; François Iffly, Jean; McDonnell, Jeffrey J.; Pfister, Laurent

    2016-04-01

    A double peak hydrograph features two peaks as a response to a unique rainfall pulse. The first peak occurs at the same time or shortly after the precipitation has started and it corresponds to a fast catchment response to precipitation. The delayed peak normally starts during the recession of the first peak, when the precipitation has already ceased. Double peak hydrographs may occur for various reasons. They can occur (i) in large catchments when lag times in tributary responses are large, (ii) in urban catchments where the first peak is often caused by direct surface runoff on impervious land cover, and the delayed peak to slower subsurface flow, and (iii) in non-urban catchments, where the first and the delayed discharge peaks are explained by different runoff mechanisms (e.g. overland flow, subsurface flow and/or deep groundwater flow) that have different response times. Here we focus on the third case, as a formal description of the different hydrological mechanisms explaining these complex hydrological dynamics across catchments with diverse physiographic characteristics is still needed. Based on a review of studies documenting double peak events we have established a formal classification of catchments presenting double peak events based on their regolith structure (geological substratum and/or its weathered products). We describe the different hydrological mechanisms that trigger these complex hydrological dynamics across each catchment type. We then use hydrometric time series of precipitation, runoff, soil moisture and groundwater levels collected in the Weierbach (0.46 km2) headwater catchment (Luxembourg) to better understand double peak hydrograph generation. Specifically, we aim to find out (1) if the generation of a double peak hydrograph is a threshold process, (2) if the hysteretic relationships between storage and discharge are consistent during single and double peak hydrographs, and (3) if different functional landscape units (the hillslopes

  9. Financial Performance Analysis Of Financial Service Cooperative

    Directory of Open Access Journals (Sweden)

    Eyo Asro Sasmita

    2015-08-01

    Full Text Available This research is aimed to test and identify empirical evidence regarding the effect of capital structure and loan to financial performance of cooperative where the relationship between loan and financial performance is moderated by non-performing loan. The population of this research is 257 Financial Service Cooperative hereinafter referred to as KJK as the abbreviation for Koperasi Jasa Keuangan of Urban Village Community Economic Empowerment hereinafter referred to as PEMK as the abbreviation for Pemberdayaan Ekonomi Masyarakat Kelurahan in Jakarta 2011 to 2013. Sample is determined by using purposive sampling method. The data is secondary data which is obtained from the Revolving Fund Management Unit hereinafter referred to as UPDB as the abbreviation for Unit Pengelola Dana Bergulir Jakarta. Hypothesis is tested by using multiple linear regression analysis with SPSS 20.00. The number of sample used in this research is 120. Research findings explain that 1 Capital Structure hereinafter referred to as SM as the abbreviation for Struktur Modal has positive and significant impact on financial performance hereinafter referred to as KIN as the abbreviation for Kinerja Keuangan because the probability value of 0000 is smaller than amp945 0.05. Calculation shows that if the capital structure rises 1 assuming that the loan and non-performing loan variables remain the same then the financial performance will increase 0.017. 2 Loans hereinafter referred to as PIN as the abbreviation for Pinjaman given has positive and significant impact on KIN because the probability value of 0001 is smaller than amp945 0.05. If the loan rises 1 assuming that the capital structure and non-performing loan variables remain the same then the KIN will increase 0.013. 3 Non-performing loan has negative and significant effect on KIN because the probability value of 0000 is smaller than amp945 0.05. PBR varible increase 1 assuming that the loan and capital structure variables

  10. Revisiting the financial crisis

    Institute of Scientific and Technical Information of China (English)

    黄明

    2009-01-01

    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

  11. Logistiline Daily Service / Paavo Kangur

    Index Scriptorium Estoniae

    Kangur, Paavo, 1966-

    2005-01-01

    Sügisel ostis Leedu endise majandusministri Valetntinas Milaknise firma Daily Service ära kõik bürootarvetemüüja Reval Impexi aktsiad. 300 miljoni kroonise aastakäibega firma Eesti tütarettevõte prognoosib oma tänavuseks käibeks 31,2 miljonit krooni. Lisa: Daily Service'i struktuur

  12. Logistiline Daily Service / Paavo Kangur

    Index Scriptorium Estoniae

    Kangur, Paavo, 1966-

    2005-01-01

    Sügisel ostis Leedu endise majandusministri Valetntinas Milaknise firma Daily Service ära kõik bürootarvetemüüja Reval Impexi aktsiad. 300 miljoni kroonise aastakäibega firma Eesti tütarettevõte prognoosib oma tänavuseks käibeks 31,2 miljonit krooni. Lisa: Daily Service'i struktuur

  13. Relationship Service Marketing and Investment in Financial Market of Iran

    Directory of Open Access Journals (Sweden)

    Mehrdad Alipour

    2012-08-01

    Full Text Available In competitive world, having expertise, knowledge and marketing experience for financial market activities, especially brokerage firms has proven inevitable. This should be accompanied by performing marketing operations along with intermediary roles and carrying on the daily transactions of shares in the Tehran stock exchange market. The current study aims investigating the level of marketing knowledge used in stock exchange market, identifying the reasons behind deficient use of the marketing knowledge by the financial institutions (financial intermediaries, brokerage firms and etc, matching the marketing activities with the financial activities of the brokerage firms in the Tehran stock exchange and finally improving the investment in Tehran stock exchange market. Independent variables were selected based on services marketing mix such as product, price, place, promotion, physical facilities, people and process. The method used is survey-based and the universe has been drawn from among the financial institutions active in Tehran stock exchange and the regional branches of the country. The results obtained from the research show that, during the period reviewed, the dynamic marketing system in the financial market was the traditional system without attending to the modern criteria of financial service marketing in the areas relating communication and determination of the shares prices, services of conduct transactions of the financial analyses and encouragement the big companies to enter the Tehran Stock Exchange.

  14. Financial Literacy of Youth. A Sensitivity Analysis of the Determinants

    Directory of Open Access Journals (Sweden)

    Nagar A. Κ.

    2008-04-01

    Full Text Available This paper reports on the potential use of Neural Network as a sensitivity modeling tool for the determinants of financial literacy. The financial literacy modeling in this research has been attempted to measure the literacy of youth in the Australian society with respect to their financial knowledge of Credit Cards, Loans and Superannuation (Pensions scheme in Australia that allows for choice of funds and investment decisions by the member. Based on the financial literacy related parameters, Neural Networks results showed good promise and capability for efficient financial literacy determinants, and represent a potentially robust and fault tolerant approach. The findings indicate that the determinants of credit card are significantly dependent on a student’s year of study, credit card status and daily routine, which has a strong relevance to respondents’ knowledge of credit cards. (n=1070; 9.0070 and 10.5898 respectively. This study did not have the intention to explore the skills of youth in order to measure the level of financial literacy but the objective was to test the basic financial knowledge of key products that is common to youth in Australian society. In so doing, the researchers were keen to identify the determinants of financial knowledge.

  15. Impact of Financial Liberalization on Financial Depth in Iraq

    OpenAIRE

    Ammar Hamad Khalaf

    2011-01-01

    This paper examines the Mackinnon-Show hypothesis i.e. financial liberalization promotes financial depth in case of Iraq. Iraq launched a comprehensive program of economic and financial liberalization since 2003. Thus, this paper aims to answer the key question that “is financial liberalization stimulated the financial depth in Iraq?”. By applying the ARDL Autoregressive Distributed Lag model on quarterly data during the period 2005- 2010, the paper finds that the liberalization of interest r...

  16. Framework for financial ratio analysis of audited federal financial reports

    OpenAIRE

    Brady, Richard T.

    1999-01-01

    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...

  17. Network externalities across financial institutions

    OpenAIRE

    Castro Iragorri, Carlos Alberto; Preciado Pua, Sergio Andrés; Ordóñez Herrera, Juan Sebastián

    2016-01-01

    We propose and estimate a financial distress model that explicitly accounts for the interactions or spill-over effects between financial institutions, through the use of a spatial continuity matrix that is build from financial network data of inter bank transactions. Such setup of the financial distress model allows for the empirical validation of the importance of network externalities in determining financial distress, in addition to institution specific and macroeconomic covariates. The re...

  18. Balancing Responsibilities – Financial Literacy

    OpenAIRE

    Gail Pearson; Philip N Stoop; Michelle Kelly-Louw

    2017-01-01

    In Australia there is an obligation to promote the informed participation of financial consumers while in South Africa there is an obligation to educate consumers. The Australian obligation is concerned with the financial system as a whole while the South African obligation has generally been focused on general financial education as a tool to promote financial inclusion. There is no obligation for consumers to attain a minimum standard of literacy in credit or finance generally. Financial li...

  19. Labour's Record on Financial Regulation

    OpenAIRE

    Daripa, Arup; Kapur, Sandeep; Wright, Stephen

    2013-01-01

    In 1997 the new Labour government launched major initiatives in the area of financial regulation, setting up the Financial Services Authority as a comprehensive regulatory body, supported by the legislative framework of the Financial Services and Markets Act 2000. We evaluate the Labour government’s record on financial regulation in terms of its achievements and failures, especially in dealing with the global financial crisis that started in 2007. While we identify some clear flaws in regulat...

  20. The Structure of Financial Regulation

    OpenAIRE

    Bratu Renate Doina; Petria Nicolae

    2011-01-01

    During the current global financial crisis has called into question the role and objectives of the regulation of financial markets and its scope of action. Liberalization of financial services under the impact of globalization and strong innovative character of the financial system, architecture of regulation has generated a change. In this sense, this paper aims to present and evaluate the structure of financial system regulation in the current international context.

  1. Morocco; Financial System Stability Assessment

    OpenAIRE

    International Monetary Fund

    2003-01-01

    The Financial System Stability Assessment of Morocco reviews the reform program that is aimed at establishing a modern, market-oriented financial system that optimizes the mobilization of savings and the allocation of financial resources. It reviews the modernization of the banking sector and the development of competition within the sector, development of financial markets, and removal of constraints on financial system activity. It also provides reports on the Observance of Standards and Co...

  2. Outgoing Longwave Radiation Daily Climate Data Record (OLR Daily CDR)

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — The product contains the 1-degree by 1-degree daily mean outgoing longwave radiation flux at the top of the atmosphere derived from HIRS radiance observations...

  3. Daily and Sub-daily Precipitation for the Former USSR

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — This dataset is a compilation of in situ daily and hourly meteorological observations for the former USSR initially obtained within the framework of several joint...

  4. The geomorphic structure of the runoff peak

    Directory of Open Access Journals (Sweden)

    R. Rigon

    2011-06-01

    Full Text Available This paper develops a theoretical framework to investigate the core dependence of peak flows on the geomorphic properties of river basins. Based on the theory of transport by travel times, and simple hydrodynamic characterization of floods, this new framework invokes the linearity and invariance of the hydrologic response to provide analytical and semi-analytical expressions for peak flow, time to peak, and area contributing to the peak runoff. These results are obtained for the case of constant-intensity hyetograph using the Intensity-Duration-Frequency (IDF curves to estimate extreme flow values as a function of the rainfall return period. Results show that, with constant-intensity hyetographs, the time-to-peak is greater than rainfall duration and usually shorter than the basin concentration time. Moreover, the critical storm duration is shown to be independent of rainfall return period as well as the area contributing to the flow peak. The same results are found when the effects of hydrodynamic dispersion are accounted for. Further, it is shown that, when the effects of hydrodynamic dispersion are negligible, the basin area contributing to the peak discharge does not depend on the channel velocity, but is a geomorphic propriety of the basin. As an example this framework is applied to three watersheds. In particular, the runoff peak, the critical rainfall durations and the time to peak are calculated for all links within a network to assess how they increase with basin area.

  5. [A peak recognition algorithm designed for chromatographic peaks of transformer oil].

    Science.gov (United States)

    Ou, Linjun; Cao, Jian

    2014-09-01

    In the field of the chromatographic peak identification of the transformer oil, the traditional first-order derivative requires slope threshold to achieve peak identification. In terms of its shortcomings of low automation and easy distortion, the first-order derivative method was improved by applying the moving average iterative method and the normalized analysis techniques to identify the peaks. Accurate identification of the chromatographic peaks was realized through using multiple iterations of the moving average of signal curves and square wave curves to determine the optimal value of the normalized peak identification parameters, combined with the absolute peak retention times and peak window. The experimental results show that this algorithm can accurately identify the peaks and is not sensitive to the noise, the chromatographic peak width or the peak shape changes. It has strong adaptability to meet the on-site requirements of online monitoring devices of dissolved gases in transformer oil.

  6. Financial information processing and development of emerging financial markets

    Institute of Scientific and Technical Information of China (English)

    Shuo BAI; Shouyang WANG; Lean YU; Aoying ZHOU

    2010-01-01

    @@ 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.

  7. Late Financial Distress Process Stages and Financial Ratios

    DEFF Research Database (Denmark)

    Sormunen, Nina; Laitinen, Teija

    2012-01-01

    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...

  8. Financial Economy and Financial System: Basis of Structural Interconnection

    Directory of Open Access Journals (Sweden)

    Khorosheva Olena I.

    2014-02-01

    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.

  9. On financial innovation

    Directory of Open Access Journals (Sweden)

    G. VACIAGO

    2013-12-01

    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.

  10. PROFITABILITY AND FINANCIAL STABILITY

    Directory of Open Access Journals (Sweden)

    CĂRUNTU CONSTANTIN

    2011-09-01

    Full Text Available The business activity allows identifying two categories of flows: flows of results and cash flows. Flows affect the income and expenses, participating in training result, the company's profitability. Financial flows involved in their formation both monetary items (which drive the monetary input or output and thus implies a cash flow, and non-cash items (affecting the result, without leading to a cash flow. Are equally identifiable cash flows that do not involve an immediate effect on the outcome or effect on the result equivalent to that spread on the treasury. Financial equilibrium in a general manner evokes the idea of harmony between different elements of a system, which in finance is harmonization of resources with the needs. Financial equilibrium can be defined by the company's ability to secure payment of its proceeds without interruption to current liabilities incurred in implementing its object of activity or tax laws, so it can avoid the risk of bankruptcy. Maintaining financial stability is the essential condition of survival of the enterprise, financial and balanced assessment must take into account the concrete conditions of the occurrence of default.

  11. A double-blind group comparative study of ophthalmic sodium cromoglycate, 2% four times daily and 4% twice daily, in the treatment of seasonal allergic conjunctivitis.

    Science.gov (United States)

    Leino, M; Montan, P; Njå, F

    1994-03-01

    In a multicenter, double-blind, single-dummy, group-comparative study, 169 patients received ophthalmic sodium cromoglycate 2% four times daily, and 170 patients received 4% ophthalmic sodium cromoglycate twice daily, together with placebo eye-drops twice daily, for the treatment of seasonal allergic conjunctivitis (SAC) to birch pollen. The treatment period was 4 weeks during the birch pollen season. Daily pollen counts were used to identify the peak 14-d period. Clinical examinations were made before the start of treatment, after 1 week of treatment, and at the end of the treatment period. Patients kept daily diary record cards of eye symptom severity and concomitant therapy. Symptoms were generally mild and, except for chemosis (week 4) and soreness (weeks 2 and 3), which were less in the 4% group (P sodium cromoglycate eye-drops twice daily is as effective and well tolerated as 2% sodium cromoglycate four times daily in the treatment of birch-pollen conjunctivitis.

  12. Persistence and financial markets

    Science.gov (United States)

    Jain, S.

    2007-09-01

    The persistence phenomenon is studied in a financial context by using a novel mapping of the time evolution of the values of shares in a portfolio onto Ising spins. The method is applied to historical data from the London Financial Times Stock Exchange 100 index (FTSE 100) over an arbitrarily chosen period. By following the time dependence of the spins, we find evidence for a power law decay of the proportion of shares that remain either above or below their ‘starting’ values. As a result, we estimate a persistence exponent for the underlying financial market to be ≈0.5. Preliminary results from computer simulations on persistence in the economic dynamics of a toy model appear to reproduce the behaviour observed in real markets.

  13. ISSUERS OF FINANCIAL INSTRUMENTS

    Directory of Open Access Journals (Sweden)

    Cristian GHEORGHE

    2016-05-01

    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.

  14. Lightship Daily Observations - NARA Collection

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — Observations taken on board lightships along the United States coasts from 1893 - 1943. Generally 4-6 observations daily. Also includes deck logs, which give...

  15. The patient with daily headaches.

    Science.gov (United States)

    Maizels, Morris

    2004-12-15

    The term "chronic daily headache" (CDH) describes a variety of headache types, of which chronic migraine is the most common. Daily headaches often are disabling and may be challenging to diagnose and treat. Medication overuse, or drug rebound headache, is the most treatable cause of refractory daily headache. A pathologic underlying cause should be considered in patients with recent-onset daily headache, a change from a previous headache pattern, or associated neurologic or systemic symptoms. Treatment of CDH focuses on reduction of headache triggers and use of preventive medication, most commonly anti-depressants, antiepileptic drugs, and beta blockers. Medication overuse must be treated with discontinuation of symptomatic medicines, a transitional therapy, and long-term prophylaxis. Anxiety and depression are common in patients with CDH and should be identified and treated. Although the condition is challenging, appropriate treatment of patients with CDH can bring about significant improvement in the patient's quality-of-life.

  16. Allegheny County Jail Daily Census

    Data.gov (United States)

    Allegheny County / City of Pittsburgh / Western PA Regional Data Center — A daily census of the inmates at the Allegheny County Jail (ACJ). Includes gender, race, age at booking, and current age. The records for each month contain a...

  17. Regression based peak load forecasting using a transformation technique

    Energy Technology Data Exchange (ETDEWEB)

    Haida, Takeshi; Muto, Shoichi (Tokyo Electric Power Co. (Japan). Computer and Communication Research Center)

    1994-11-01

    This paper presents a regression based daily peak load forecasting method with a transformation technique. In order to forecast the load precisely through a year, the authors should consider seasonal load change, annual load growth and the latest daily load change. To deal with these characteristics in the load forecasting, a transformation technique is presented. This technique consists of a transformation function with translation and reflection methods. The transformation function is estimated with the previous year's data points, in order that the function converts the data points into a set of new data points with preserving the shape of temperature-load relationships in the previous year. Then, the function is slightly translated so that the transformed data points will fit the shape of temperature-load relationships in the year. Finally, multivariate regression analysis with the latest daily loads and weather observations estimates the forecasting model. Large forecasting errors caused by the weather-load nonlinear characteristic in the transitional seasons such as spring and fall are reduced. Performance of the technique which is verified with simulations on actual load data of Tokyo Electric Power Company is also described.

  18. Do dark matter halos explain lensing peaks?

    Science.gov (United States)

    Zorrilla Matilla, José Manuel; Haiman, Zoltán; Hsu, Daniel; Gupta, Arushi; Petri, Andrea

    2016-10-01

    We have investigated a recently proposed halo-based model, Camelus, for predicting weak-lensing peak counts, and compared its results over a collection of 162 cosmologies with those from N-body simulations. While counts from both models agree for peaks with S /N >1 (where S /N is the ratio of the peak height to the r.m.s. shape noise), we find ≈50 % fewer counts for peaks near S /N =0 and significantly higher counts in the negative S /N tail. Adding shape noise reduces the differences to within 20% for all cosmologies. We also found larger covariances that are more sensitive to cosmological parameters. As a result, credibility regions in the {Ωm,σ8} are ≈30 % larger. Even though the credible contours are commensurate, each model draws its predictive power from different types of peaks. Low peaks, especially those with 2 important cosmological information in N-body data, as shown in previous studies, but Camelus constrains cosmology almost exclusively from high significance peaks (S /N >3 ). Our results confirm the importance of using a cosmology-dependent covariance with at least a 14% improvement in parameter constraints. We identified the covariance estimation as the main driver behind differences in inference, and suggest possible ways to make Camelus even more useful as a highly accurate peak count emulator.

  19. Electrocapillary instability of magnetic fluid peak

    CERN Document Server

    Mkrtchyan, Levon; Dikansky, Yuri

    2013-01-01

    The paper presents an experimental study of the capillary electrostatic instability occurring under effect of a constant electric field on a magnetic fluid individual peak. The peaks under study occur at disintegration of a magnetic fluid layer applied on a flat electrode surface under effect of a perpendicular magnetic field. The electrocapillary instability shows itself as an emission of charged drops jets from the peak point in direction of the opposing electrode. The charged drops emission repeats periodically and results in the peak shape pulsations. It is shown that a magnetic field affects the electrocapillary instability occurrence regularities and can stimulate its development. The critical electric and magnetic field strengths at which the instability occurs have been measured; their dependence on the peak size is shown. The hysteresis in the system has been studied; it consists in that the charged drops emission stops at a lesser electric (or magnetic) field strength than that of the initial occurr...

  20. Turbocharging the Financial Markets

    Institute of Scientific and Technical Information of China (English)

    2006-01-01

    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:

  1. Basic Financial Accounting

    DEFF Research Database (Denmark)

    Wiborg, Karsten

    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: busin......: 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.......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...

  2. Collaborative financial infrastructure protection

    CERN Document Server

    Baldoni, Roberto

    2012-01-01

    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

  3. "Am I going to be happy and financially stable?"

    Directory of Open Access Journals (Sweden)

    Talya Miron-Shatz

    2009-02-01

    Full Text Available Before the recent recession evoked general dismay and uncertainty, this study examined the relative contribution of income and the concern over financial security to life satisfaction. The degree to which such concerns permeate people's daily lives could be part of the broader concept of wealth, often measured through income and debt, and could help evaluate fiscal instruments promoting financial security. Study 1 (extit{N} = 267 used econometric methods to demonstrate that the consideration of financial security was as important to participants' life satisfaction as their monetary assets. Further, outlook on financial security adds to the prediction of life satisfaction above the contribution of income. Content analysis revealed that nearly half the participants (extit{N} = 651, Study 2 mentioned financial concerns --- retirement, college tuition, making ends meet, etc. --- when asked to think about ``the future'' in an open-ended manner. These participants reported lower life satisfaction compared with women who did not raise such concerns. The link between concerns over financial security and life satisfaction, which cannot be fully accounted for by income alone, could guide policy decisions on whether to directly allocate resources toward increasing income or to focus on creating a social and financial safety net.

  4. Financial literacy: an interface between financial information and ...

    African Journals Online (AJOL)

    Southern African Business Review Volume 13 Number 2 2009. Financial ... connection between the financial numbers and the real business world context. ...... 'The knowledge-creating company', Harvard Business Review, November/.

  5. Households' position in the financial crisis in Iceland

    DEFF Research Database (Denmark)

    Ólafsson, Tjörvi; Vignisdottir, Karen Aslaug

    We utilise a unique nationwide household-level database to analyse how households’ financial position evolved in the run-up to and aftermath of the financial crisis in Iceland. The main focus of our analysis is to assess how the share of indebted households in financial distress evolved and how...... it was affected by debt restructuring measures and court decisions. We also analyse the share of indebted homeowners in negative housing equity and those in the highly vulnerable situation of being in distress and negative housing equity simultaneously. The analysis suggests that the share of indebted households...... breathing space, but the share in distress is estimated to have peaked at 27½ per cent in autumn 2009, before declining to 20 per cent at year-end 2010 due to policy and legal interventions. Financial distress is found to be inversely related to income and age, as well as being higher among families...

  6. The Origin of Weak Lensing Convergence Peaks

    CERN Document Server

    Liu, Jia

    2016-01-01

    Weak lensing convergence peaks are a promising tool to probe nonlinear structure evolution at late times, providing additional cosmological information beyond second-order statistics. Previous theoretical and observational studies have shown that the cosmological constraints on $\\Omega_m$ and $\\sigma_8$ are improved by a factor of up to ~ 2 when peak counts and second-order statistics are combined, compared to using the latter alone. We study the origin of lensing peaks using observational data from the 154 deg$^2$ Canada-France-Hawaii Telescope Lensing Survey. We found that while high peaks (with height $\\kappa$ >3.5 $\\sigma_\\kappa$, where $\\sigma_\\kappa$ is the r.m.s. of the convergence $\\kappa$) are typically due to one single massive halo of ~$10^{15}M_\\odot$, low peaks ($\\kappa$ ~ their virial radii), compared with ~0.25 virial radii for halos linked with high peaks, hinting that low peaks are more immune to baryonic processes whose impact is confined to the inner regions of the dark matter halos. Our fi...

  7. Financial market contagion

    OpenAIRE

    Kelly, Morgan

    2008-01-01

    The power of the metaphor of contagion—that beliefs, actions, and strategies spread among economic agents like pathogens among biological organisms— causes it to recur in disparate areas of economics. This article focusses on four applications of contagion to economics: social influence or memoryless learning; Bayesian social learning; strategy choice in coordination games; and the spread of crises in international financial markets.

  8. Coping with Financial Distress

    Science.gov (United States)

    Chabotar, Kent John

    2007-01-01

    Colleges and universities, like corporations and other nonprofit organizations, are subject to periodic fluctuations in the economy and public support. Thus, the question is not whether they will confront financial problems but rather when and how. This article describes how institutions and boards can detect budgets in crisis, provides principles…

  9. Offshore Financial Centres

    DEFF Research Database (Denmark)

    Wigan, Duncan

    2014-01-01

    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...... this analysis of creeping policy competence in the EU and an emergent regulatory assemblage....

  10. Financial Disclosure Laws.

    Science.gov (United States)

    Merz, Carol

    1983-01-01

    A study of school board presidents and superintendents in Washington, Missouri, and New Jersey reveals that strict financial disclosure laws tend to reduce the number of professionals on boards; however, board members with professional occupations differ from other board members on a number of measures. (MLF)

  11. New Financial Models.

    Science.gov (United States)

    Taylor, Michael G.

    1991-01-01

    This report synthesizes experiences in a number of countries (United Kingdom, Netherlands, Germany, Australia, Japan) on the market economy in higher education. Considered are market forces, various financial structures (institutional budgets, student funding, research infrastructure, other income, staffing), and implications for the future. (MSE)

  12. L'archipel financier

    Directory of Open Access Journals (Sweden)

    Christian MILELLI

    1987-03-01

    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.

  13. Financial Derivatives in China

    Institute of Scientific and Technical Information of China (English)

    2006-01-01

    Francis Repka sees bright prospects for the future development of the financial derivatives market in China. Repka,Vice President of the Asian Bond Finance Department of Societe Generale, says the situation in France just after the birth of derivatives was very similar to the situation in China today.

  14. Tentamentraining financial accounting

    NARCIS (Netherlands)

    Dankers, C.H.A.M.; Langendijk, H.P.A.J.; Epe, P.

    2005-01-01

    NIVRA-Nyenrode verzorgt een opleiding tot registeraccountant. Hiervoor wordt college- en studiemateriaal ontwikkeld. Sedert 1974 stelt een kerngroep/examencommissie opgaven en uitwerkingen samen voor de tentamens van het vak Financial Accounting (voorheen Waarde & Winst c.q. Elementaire kennis Exter

  15. Financial Giffen Goods

    DEFF Research Database (Denmark)

    Poulsen, Rolf; Rasmussen, Kourosh Marjani

    2008-01-01

    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...

  16. International Financial Reporting Standards

    DEFF Research Database (Denmark)

    Pontoppidan, Caroline Aggestam

    2011-01-01

    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 educational texts covering IFRS within the context of a review of the progress of IFRS themselves....

  17. The case for financialization

    NARCIS (Netherlands)

    Engelen, E.

    2008-01-01

    The tempestuous rise of finance in contemporary capitalism has incited a frantic search for new conceptual tools to make empirical and theoretical sense of it. Financialization and the theoretical connotations it carries, is one such new conceptual tool. Although a growing number of scholars are usi

  18. Consumer financial behavior

    NARCIS (Netherlands)

    van Raaij, W.F.

    2014-01-01

    Consumer financial behavior is a domain between micro-economics, behavioral finance, and marketing. It is based on insights and behavioral theories from cognitive, economic, and social psychology (biases, heuristics, social influences), in the context of and sometimes in conflict with micro-economic

  19. Financial Analysis of HRD.

    Science.gov (United States)

    1995

    These five papers are from a symposium facilitated by Ronald L. Jacobs on financial analysis of human resource development (HRD) at the 1995 Academy of Human Resource Development conference. "Return on Investment--Beyond the Four Levels!" (Jack J. Phillips) offers a modification of the Kirkpatrick model of evaluation for HRD in…

  20. International Financial Reporting Standards

    DEFF Research Database (Denmark)

    Pontoppidan, Caroline Aggestam

    2011-01-01

    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...

  1. A Financial Marriage

    Institute of Scientific and Technical Information of China (English)

    LAN XINZHEN

    2010-01-01

    @@ Love is in the air as financial church bells ring,ushering in a bonding between CITIC Securities Co.Ltd.land Crédit Agricole S.A.(CASA).The Chinese company and the French bank are planning to establish a global investment bank and strategic brokerage alliance,said a memorandum of understanding signed by the two sides on May 3.

  2. The US Financial Crisis

    DEFF Research Database (Denmark)

    Campbell, John L.

    2011-01-01

    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...

  3. The impact of financial crises on the risk-return tradeoff and the leverage effect

    DEFF Research Database (Denmark)

    Christensen, Bent Jesper; Nielsen, Morten Ørregaard; Zhu, Jie

    2015-01-01

    % in magnitude during financial crises. No such changes are observed during NBER recessions, so in this sense financial crises are special. Applications to a number of major developed and emerging international stock markets confirm the increase in the leverage effect, whereas the international evidence......We investigate the impact of financial crises on two fundamental features of stock returns, namely, the risk-return tradeoff and the leverage effect. We apply the fractionally integrated exponential GARCH-in-mean (FIEGARCH-M) model for daily stock return data, which includes both features...... and allows the co-existence of long memory in volatility and short memory in returns. We extend this model to allow the financial parameters governing the volatility-in-mean effect and the leverage effect to change during financial crises. An application to the daily U.S. stock index return series from 1926...

  4. The impact of financial crises on the risk-return tradeoff and the leverage effect

    DEFF Research Database (Denmark)

    Christensen, Bent Jesper; Nielsen, Morten Ørregaard; Zhu, Jie

    50% in magnitude during …financial crises. No such changes are observed during NBER recessions, so in this sense …financial crises are special. Applications to a number of major developed and emerging international stock markets confirm the increase in the leverage effect, whereas the international......We investigate the impact of financial crises on two fundamental features of stock returns, namely, the risk-return tradeoff and the leverage effect. We apply the fractionally integrated exponential GARCH-in-mean (FIEGARCH-M) model for daily stock return data, which includes both features...... and allows the co-existence of long memory in volatility and short memory in returns. We extend this model to allow the financial parameters governing the volatility-in-mean effect and the leverage effect to change during financial crises. An application to the daily U.S. stock index return series from 1926...

  5. Peak load arrangements : Assessment of Nordel guidelines

    Energy Technology Data Exchange (ETDEWEB)

    2009-07-01

    Two Nordic countries, Sweden and Finland, have legislation that empowers the TSO to acquire designated peak load resources to mitigate the risk for shortage situations during the winter. In Denmark, the system operator procures resources to maintain a satisfactory level of security of supply. In Norway the TSO has set up a Regulation Power Option Market (RKOM) to secure a satisfactory level of operational reserves at all times, also in winter with high load demand. Only the arrangements in Finland and Sweden fall under the heading of Peak Load Arrangements defined in Nordel Guidelines. NordREG has been invited by the Electricity Market Group (EMG) to evaluate Nordel's proposal for 'Guidelines for transitional Peak Load Arrangements'. The EMG has also financed a study made by EC Group to support NordREG in the evaluation of the proposal. The study has been taken into account in NordREG's evaluation. In parallel to the EMG task, the Swedish regulator, the Energy Markets Inspectorate, has been given the task by the Swedish government to investigate a long term solution of the peak load issue. The Swedish and Finnish TSOs have together with Nord Pool Spot worked on finding a harmonized solution for activation of the peak load reserves in the market. An agreement accepted by the relevant authorities was reached in early January 2009, and the arrangement has been implemented since 19th January 2009. NordREG views that the proposed Nordel guidelines have served as a starting point for the presently agreed procedure. However, NordREG does not see any need to further develop the Nordel guidelines for peak load arrangements. NordREG agrees with Nordel that the market should be designed to solve peak load problems through proper incentives to market players. NordREG presumes that the relevant authorities in each country will take decisions on the need for any peak load arrangement to ensure security of supply. NordREG proposes that such decisions should be

  6. FINANCIAL INFORMATION, EFFECTS OF FINANCIAL INFORMATION ON ECONOMIC DECISION

    Directory of Open Access Journals (Sweden)

    TAK ISA

    2010-12-01

    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.

  7. Inmate Perceptions of Financial Education Needs: Suggestions for Financial Educators

    Science.gov (United States)

    Call, Lindsay Larson; Dyer, W. Justin; Wiley, Angela R.; Day, Randal D.

    2013-01-01

    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,…

  8. Workplace Financial Education Facilitates Improvement in Personal Financial Behaviors

    Science.gov (United States)

    Prawitz, Aimee D.; Cohart, Judith

    2014-01-01

    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…

  9. Financial Stress and Financial Counseling: Helping College Students

    Science.gov (United States)

    Britt, Sonya L.; Canale, Anthony; Fernatt, Fred; Stutz, Kristen; Tibbetts, Racquel

    2015-01-01

    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).…

  10. Financial Planners: Educating Widows in Personal Financial Planning

    Science.gov (United States)

    Korb, Brian R.

    2010-01-01

    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…

  11. Financial Inclusion and Financial Fragility: An Empirical Note

    OpenAIRE

    Ghosh, Saibal

    2008-01-01

    Using data on Indian state-owned banks for 1997-2007, the article tests the relationship between financial inclusion and financial fragility. The findings reveal that these variables are intertwined, with each tending to reinforce the other. More importantly, financial fragility is a non-linear determinant of both availability and use of banking services.

  12. How would peak rainfall intensity affect runoff predictions using conceptual water balance models?

    Science.gov (United States)

    Yu, B.

    2015-06-01

    Most hydrological models use continuous daily precipitation and potential evapotranspiration for streamflow estimation. With the projected increase in mean surface temperature, hydrological processes are set to intensify irrespective of the underlying changes to the mean precipitation. The effect of an increase in rainfall intensity on the long-term water balance is, however, not adequately accounted for in the commonly used hydrological models. This study follows from a previous comparative analysis of a non-stationary daily series of stream flow of a forested watershed (River Rimbaud) in the French Alps (area = 1.478 km2) (1966-2006). Non-stationarity in the recorded stream flow occurred as a result of a severe wild fire in 1990. Two daily models (AWBM and SimHyd) were initially calibrated for each of three distinct phases in relation to the well documented land disturbance. At the daily and monthly time scales, both models performed satisfactorily with the Nash-Sutcliffe coefficient of efficiency (NSE) varying from 0.77 to 0.92. When aggregated to the annual time scale, both models underestimated the flow by about 22% with a reduced NSE at about 0.71. Exploratory data analysis was undertaken to relate daily peak hourly rainfall intensity to the discrepancy between the observed and modelled daily runoff amount. Preliminary results show that the effect of peak hourly rainfall intensity on runoff prediction is insignificant, and model performance is unlikely to improve when peak daily precipitation is included. Trend analysis indicated that the large decrease of precipitation when daily precipitation amount exceeded 10-20 mm may have contributed greatly to the decrease in stream flow of this forested watershed.

  13. Financial Management: An Organic Approach

    Science.gov (United States)

    Laux, Judy

    2013-01-01

    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.

  14. For a Better Financial Order

    Institute of Scientific and Technical Information of China (English)

    2008-01-01

    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

  15. Financial Literacy Education for Women

    Science.gov (United States)

    Jarecke, Jodi; Taylor, Edward W.; Hira, Tahira K.

    2014-01-01

    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.

  16. Radiology applications of financial accounting.

    Science.gov (United States)

    Leibenhaut, Mark H

    2005-03-01

    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.

  17. Financial Literacy Education for Women

    Science.gov (United States)

    Jarecke, Jodi; Taylor, Edward W.; Hira, Tahira K.

    2014-01-01

    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.

  18. Bayesian peak picking for NMR spectra.

    Science.gov (United States)

    Cheng, Yichen; Gao, Xin; Liang, Faming

    2014-02-01

    Protein structure determination is a very important topic in structural genomics, which helps people to understand varieties of biological functions such as protein-protein interactions, protein-DNA interactions and so on. Nowadays, nuclear magnetic resonance (NMR) has often been used to determine the three-dimensional structures of protein in vivo. This study aims to automate the peak picking step, the most important and tricky step in NMR structure determination. We propose to model the NMR spectrum by a mixture of bivariate Gaussian densities and use the stochastic approximation Monte Carlo algorithm as the computational tool to solve the problem. Under the Bayesian framework, the peak picking problem is casted as a variable selection problem. The proposed method can automatically distinguish true peaks from false ones without preprocessing the data. To the best of our knowledge, this is the first effort in the literature that tackles the peak picking problem for NMR spectrum data using Bayesian method.

  19. Osteoporosis: Peak Bone Mass in Women

    Science.gov (United States)

    ... not supported by your browser. Home Osteoporosis Women Osteoporosis: Peak Bone Mass in Women Publication available in: ... drug products. NIH Pub. No. 15-7891 NIH Osteoporosis and Related Bone Diseases ~ National Resource Center 2 ...

  20. Bayesian Peak Picking for NMR Spectra

    KAUST Repository

    Cheng, Yichen

    2014-02-01

    Protein structure determination is a very important topic in structural genomics, which helps people to understand varieties of biological functions such as protein-protein interactions, protein–DNA interactions and so on. Nowadays, nuclear magnetic resonance (NMR) has often been used to determine the three-dimensional structures of protein in vivo. This study aims to automate the peak picking step, the most important and tricky step in NMR structure determination. We propose to model the NMR spectrum by a mixture of bivariate Gaussian densities and use the stochastic approximation Monte Carlo algorithm as the computational tool to solve the problem. Under the Bayesian framework, the peak picking problem is casted as a variable selection problem. The proposed method can automatically distinguish true peaks from false ones without preprocessing the data. To the best of our knowledge, this is the first effort in the literature that tackles the peak picking problem for NMR spectrum data using Bayesian method.

  1. Amplification of postwildfire peak flow by debris

    Science.gov (United States)

    Kean, J. W.; McGuire, L. A.; Rengers, F. K.; Smith, J. B.; Staley, D. M.

    2016-08-01

    In burned steeplands, the peak depth and discharge of postwildfire runoff can substantially increase from the addition of debris. Yet methods to estimate the increase over water flow are lacking. We quantified the potential amplification of peak stage and discharge using video observations of postwildfire runoff, compiled data on postwildfire peak flow (Qp), and a physically based model. Comparison of flood and debris flow data with similar distributions in drainage area (A) and rainfall intensity (I) showed that the median runoff coefficient (C = Qp/AI) of debris flows is 50 times greater than that of floods. The striking increase in Qp can be explained using a fully predictive model that describes the additional flow resistance caused by the emergence of coarse-grained surge fronts. The model provides estimates of the amplification of peak depth, discharge, and shear stress needed for assessing postwildfire hazards and constraining models of bedrock incision.

  2. Peak Vegetation Growth 2000 - Direct Download

    Data.gov (United States)

    U.S. Geological Survey, Department of the Interior — This map layer is a grid map of 2000 peak vegetation growth for Alaska and the conterminous United States. The nominal spatial resolution is 1 kilometer and the map...

  3. Peak Vegetation Growth 2004 - Direct Download

    Data.gov (United States)

    U.S. Geological Survey, Department of the Interior — This map layer is a grid map of 2004 peak vegetation growth for Alaska and the conterminous United States. The nominal spatial resolution is 1 kilometer and the map...

  4. Peak Vegetation Growth 1999 - Direct Download

    Data.gov (United States)

    U.S. Geological Survey, Department of the Interior — This map layer is a grid map of 1999 peak vegetation growth for Alaska and the conterminous United States. The nominal spatial resolution is 1 kilometer and the map...

  5. Peak Vegetation Growth 1993 - Direct Download

    Data.gov (United States)

    U.S. Geological Survey, Department of the Interior — This map layer is a grid map of 1993 peak vegetation growth for Alaska and the conterminous United States. The nominal spatial resolution is 1 kilometer and the map...

  6. Peak Vegetation Growth 1994 - Direct Download

    Data.gov (United States)

    U.S. Geological Survey, Department of the Interior — This map layer is a grid map of 1994 peak vegetation growth for Alaska and the conterminous United States. The nominal spatial resolution is 1 kilometer and the map...

  7. Peak Vegetation Growth 1995 - Direct Download

    Data.gov (United States)

    U.S. Geological Survey, Department of the Interior — This map layer is a grid map of 1995 peak vegetation growth for Alaska and the conterminous United States. The nominal spatial resolution is 1 kilometer and the map...

  8. Peak Vegetation Growth 1998 - Direct Download

    Data.gov (United States)

    U.S. Geological Survey, Department of the Interior — This map layer is a grid map of 1998 peak vegetation growth for Alaska and the conterminous United States. The nominal spatial resolution is 1 kilometer and the map...

  9. Peak Vegetation Growth 2001 - Direct Download

    Data.gov (United States)

    U.S. Geological Survey, Department of the Interior — This map layer is a grid map of 2001 peak vegetation growth for Alaska and the conterminous United States. The nominal spatial resolution is 1 kilometer and the map...

  10. Peak Vegetation Growth 2003 - Direct Download

    Data.gov (United States)

    U.S. Geological Survey, Department of the Interior — This map layer is a grid map of 2003 peak vegetation growth for Alaska and the conterminous United States. The nominal spatial resolution is 1 kilometer and the map...

  11. Peak Vegetation Growth 1997 - Direct Download

    Data.gov (United States)

    U.S. Geological Survey, Department of the Interior — This map layer is a grid map of 1997 peak vegetation growth for Alaska and the conterminous United States. The nominal spatial resolution is 1 kilometer and the map...

  12. Peak Vegetation Growth 1990 - Direct Download

    Data.gov (United States)

    U.S. Geological Survey, Department of the Interior — This map layer is a grid map of 1990 peak vegetation growth for Alaska and the conterminous United States. The nominal spatial resolution is 1 kilometer and the map...

  13. Peak Vegetation Growth 1996 - Direct Download

    Data.gov (United States)

    U.S. Geological Survey, Department of the Interior — This map layer is a grid map of 1996 peak vegetation growth for Alaska and the conterminous United States. The nominal spatial resolution is 1 kilometer and the map...

  14. Peak Vegetation Growth 2005 - Direct Download

    Data.gov (United States)

    U.S. Geological Survey, Department of the Interior — This map layer is a grid map of 2005 peak vegetation growth for Alaska and the conterminous United States. The nominal spatial resolution is 1 kilometer and the map...

  15. Tectonics, Climate and Earth's highest peaks

    Science.gov (United States)

    Robl, Jörg; Prasicek, Günther; Hergarten, Stefan

    2016-04-01

    Prominent peaks characterized by high relief and steep slopes are among the most spectacular morphological features on Earth. In collisional orogens they result from the interplay of tectonically driven crustal thickening and climatically induced destruction of overthickened crust by erosional surface processes. The glacial buzz-saw hypothesis proposes a superior status of climate in limiting mountain relief and peak altitude due to glacial erosion. It implies that peak altitude declines with duration of glacial occupation, i.e., towards high latitudes. This is in strong contrast with high peaks existing in high latitude mountain ranges (e.g. Mt. St. Elias range) and the idea of peak uplift due to isostatic compensation of spatially variable erosional unloading an over-thickened orogenic crust. In this study we investigate landscape dissection, crustal thickness and vertical strain rates in tectonically active mountain ranges to evaluate the influence of erosion on (latitudinal) variations in peak altitude. We analyze the spatial distribution of serval thousand prominent peaks on Earth extracted from the global ETOPO1 digital elevation model with a novel numerical tool. We compare this dataset to crustal thickness, thickening rate (vertical strain rate) and mean elevation. We use the ratios of mean elevation to peak elevation (landscape dissection) and peak elevation to crustal thickness (long-term impact of erosion on crustal thickness) as indicators for the influence of erosional surface processes on peak uplift and the vertical strain rate as a proxy for the mechanical state of the orogen. Our analysis reveals that crustal thickness and peak elevation correlate well in orogens that have reached a mechanically limited state (vertical strain rate near zero) where plate convergence is already balanced by lateral extrusion and gravitational collapse and plateaus are formed. On the Tibetan Plateau crustal thickness serves to predict peak elevation up to an altitude

  16. Cosmic Microwave Background Acoustic Peak Locations

    CERN Document Server

    Pan, Zhen; Mulroe, Brigid; Narimani, Ali

    2016-01-01

    The Planck collaboration has measured the temperature and polarization of the cosmic microwave background well enough to determine the locations of eight peaks in the temperature (TT) power spectrum, five peaks in the polarization (EE) power spectrum and twelve extrema in the cross (TE) power spectrum. The relative locations of these extrema give a striking, and beautiful, demonstration of what we expect from acoustic oscillations in the plasma; e.g., that EE peaks fall half way between TT peaks. We expect this because the temperature map is predominantly sourced by temperature variations in the last scattering surface, while the polarization map is predominantly sourced by gradients in the velocity field, and the harmonic oscillations have temperature and velocity 90 degrees out of phase. However, there are large differences in expectations for extrema locations from simple analytic models vs. numerical calculations. Here we quantitatively explore the origin of these differences in gravitational potential tr...

  17. Minimal hepatic encephalopathy matters in daily life

    Institute of Scientific and Technical Information of China (English)

    Jasmohan S Bajaj

    2008-01-01

    Minimal hepatic encephalopathy is a neuro-cognitive dysfunction which occurs in an epidemic proportion of cirrhotic patients, estimated as high as 80% of the population tested. It is characterized by a specific, complex cognitive dysfunction which is independent of sleep dysfunction or problems with overall intelligence. Although named "minimal", minimal hepatic encephalopathy (MHE) can have a far-reaching impact on quality of life, ability to function in daily life and progression to overt hepatic encephalopathy. Importantly, MHE has a profound negative impact on the ability to drive a car and may be a significant factor behind motor vehicle accidents. A crucial aspect of the clinical care of MHE patients is their driving history, which is often ignored in routine care and can add a vital dimension to the overall disease assessment. Driving history should be an integral part of care in patients with MHE. The lack of specific signs and symptoms, the preserved communication skills and lack of insight make MHE a difficult condition to diagnose. Diagnostic strategies for MHE abound, but are usually limited by financial, normative or time constraints. Recent studies into the inhibitory control and critical flicker frequency tests are encouraging since these tests can increase the rates of MHE diagnosis without requiring a psychologist. Although testing for MHE and subsequent therapy is not standard of care at this time, it is important to consider this in cirrhotics in order to improve their ability to live their life to the fullest.

  18. Market liquidity and financial stability.

    OpenAIRE

    CROCKETT, A.

    2008-01-01

    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 ...

  19. Gender issues of financial analysts

    OpenAIRE

    Jingwen Ge

    2013-01-01

    Increased attention has been drawn to the gender disparity in workplace. This dissertation is dedicated to provide sight to the gender issues in financial analysts. Profound literature reviews are conducted about gender issues and financial analysts, respectively in order to comprehend the existing gender concerns in the business world, and role and functions of financial analysts. Research proposals are described to answer the following question: whether women financial analysts are more lik...

  20. SIMPLE INNOVATION OF FINANCIAL ASSET

    Institute of Scientific and Technical Information of China (English)

    ZHANG Shunming

    2001-01-01

    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.

  1. Social Knowledge for Financial Markets

    OpenAIRE

    Gertraude Mikl-Horke

    2010-01-01

    Financial literacy is an important issue today, but it is directed/limited to improve the practical skills of people taking financial markets and their present working for granted. However, financial markets are social institutions and social processes involving network relations as well as rules and norms. Globalization has resulted in a dominating role of financial markets over the economy with importance for the transformation of capitalistic society. The sociological perspectives on finan...

  2. Financial Market: Sector Strategy (2000)

    OpenAIRE

    2000-01-01

    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...

  3. Do dark matter halos explain lensing peaks?

    CERN Document Server

    Matilla, José Manuel Zorrilla; Hsu, Daniel; Gupta, Arushi; Petri, Andrea

    2016-01-01

    We have investigated a recently proposed halo-based model, Camelus, for predicting weak-lensing peak counts, and compared its results over a collection of 162 cosmologies with those from N-body simulations. While counts from both models agree for peaks with $\\mathcal{S/N}>1$ (where $\\mathcal{S/N}$ is the ratio of the peak height to the r.m.s. shape noise), we find $\\approx 50\\%$ fewer counts for peaks near $\\mathcal{S/N}=0$ and significantly higher counts in the negative $\\mathcal{S/N}$ tail. Adding shape noise reduces the differences to within $20\\%$ for all cosmologies. We also found larger covariances that are more sensitive to cosmological parameters. As a result, credibility regions in the $\\{\\Omega_m, \\sigma_8\\}$ are $\\approx 30\\%$ larger. Even though the credible contours are commensurate, each model draws its predictive power from different types of peaks. Low peaks, especially those with $23)$. Our results confirm the importance of using a cosmology-dependent covariance with at least a 14\\% improveme...

  4. Waiting time distributions in financial markets

    Science.gov (United States)

    Sabatelli, L.; Keating, S.; Dudley, J.; Richmond, P.

    2002-05-01

    We study waiting time distributions for data representing two completely different financial markets that have dramatically different characteristics. The first are data for the Irish market during the 19th century over the period 1850 to 1854. A total of 10 stocks out of a database of 60 are examined. The second database is for Japanese yen currency fluctuations during the latter part of the 20th century (1989-1992). The Irish stock activity was recorded on a daily basis and activity was characterised by waiting times that varied from one day to a few months. The Japanese yen data was recorded every minute over 24 hour periods and the waiting times varied from a minute to a an hour or so. For both data sets, the waiting time distributions exhibit power law tails. The results for Irish daily data can be easily interpreted using the model of a continuous time random walk first proposed by Montroll and applied recently to some financial data by Mainardi, Scalas and colleagues. Yen data show a quite different behaviour. For large waiting times, the Irish data exhibit a cut off; the Yen data exhibit two humps that could arise as result of major trading centres in the World.

  5. Strategic Planning and Financial Management

    Science.gov (United States)

    Conneely, James F.

    2010-01-01

    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…

  6. Financial globalization and crises: overview

    NARCIS (Netherlands)

    Beck, T.; Claessens, S.; Schmukler, S.L.; Caprio, G.; Beck, T.; Claessens, S.; Schmukler, S.L.

    2013-01-01

    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

  7. "Financial Bubbles" and Monetary Policy

    Science.gov (United States)

    Tikhonov, Yuriy A.; Pudovkina, Olga E.; Permjakova, Juliana V.

    2016-01-01

    The relevance of this research is caused by the need of strengthening a role of monetary regulators to prevent financial bubbles in the financial markets. The aim of the article is the analysis of a problem of crisis phenomena in the markets of financial assets owing to an inadequate growth of their cost, owing to subjective reasons. The leading…

  8. Financial integration and liquidity crises

    NARCIS (Netherlands)

    Castiglionesi, Fabio; Feriozzi, F.; Lorenzoni, G.

    2017-01-01

    This paper analyzes the effects of financial integration on the stability of the banking system. Financial integration allows banks in different regions to smooth local liquidity shocks by borrowing and lending on a common interbank market. We show under which conditions financial integration

  9. Senegal : Country Financial Accountability Assessment

    OpenAIRE

    World Bank

    2003-01-01

    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...

  10. Financial globalization and crises: overview

    NARCIS (Netherlands)

    Beck, T.; Claessens, S.; Schmukler, S.L.; Caprio, G.; Beck, T.; Claessens, S.; Schmukler, S.L.

    2013-01-01

    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

  11. Financial crisis and monetary policy

    NARCIS (Netherlands)

    Karatas, B.

    2014-01-01

    Written in the midst of the Global Financial Crisis, the goal of this dissertation is to investigate causes of financial crises in general in order to provide empirical evidence of the driving forces of various crises types. Specifically, this thesis analyses the most common types of financial

  12. Financial crisis and monetary policy

    NARCIS (Netherlands)

    Karatas, B.

    2014-01-01

    Written in the midst of the Global Financial Crisis, the goal of this dissertation is to investigate causes of financial crises in general in order to provide empirical evidence of the driving forces of various crises types. Specifically, this thesis analyses the most common types of financial crise

  13. Erecting a Sturdy Financial Structure.

    Science.gov (United States)

    West, Jeffrey J.

    1998-01-01

    Explanation of the technological setting in which college and university financial systems have developed is provided for financial officers, to aid in devising a plan for the chart of accounts and erecting an efficient, logical, flexible financial structure. Topics include software/hardware advances, understanding the demand for financial…

  14. Farm and Ranch Financial Statements

    OpenAIRE

    Israelsen, Clark; Feuz, Dillon

    2014-01-01

    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.

  15. Director of Financial Aid Handbook.

    Science.gov (United States)

    Sorenson, Lynn D.

    Although many independent schools are seeing a diversification in their student bodies, existing structures, such as financial aid awards, have not been modified. In addition, many financial-aid managers in independent schools have 0-5 years of experience in student financial aid. This handbook profiles the overall step-by-step process for…

  16. Strategic Planning and Financial Management

    Science.gov (United States)

    Conneely, James F.

    2010-01-01

    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…

  17. Global financial crisis

    Directory of Open Access Journals (Sweden)

    MSc. Jusuf Qarkaxhija

    2011-03-01

    Full Text Available The most recent developments in economy are a clear indicator of many changes, which are a result of this high rate pacing, which also demonstrates as such. Market economy processes occur as a result of intertwining of many potential technological and human factors, thereby creating a system of numerous diver-gences and turbulences. Economics, a social science, is characteri-sed with movements from a system to another system, and is har-monized with elements or components which have impacted the development and application of economic policies as a result. This example can be illustrated with the passing from a commanded system (centralized to a self-governing (decentrali-zed system, while the movement from a system to another is known as transi-tion. Such transition in its own nature bears a number of problems of almost any kind (political, economic, social, etc., and is charac-terised with differences from a country to another. Financial crisis is a phenomenon consisting of a perception of economic policies and creation of an economic and financial stabi-lity in regional and global structures. From this, one may assume that each system has its own changes in its nature, and as a result of these changes, we have the crisis of such a system. Even in the economic field, if we look closely, we have such a problem, where development trends both in human and technological fields have created a large gap between older times and today, thereby crea-ting dynamics with a high intensity of action. If we dwell on the problem, and enter into the financial world, we can see that the so-called industrialized countries have made giant leaps in deve-lopment, while countries in transition have stalled in many fields, as a result of a high rate of corruption and unemployment in these countries, and obviously these indicators are directly connected, thereby stroking the financial system in these countries. Corruption is an element, which directly and indirectly

  18. The Impact of the Twin Peaks Model on the Insurance Industry

    Directory of Open Access Journals (Sweden)

    Daleen Millard

    2017-02-01

    Full Text Available Financial regulation in South Africa changes constantly. In the quest to find the ideal regulatory framework for optimal consumer protection, rules change all the time and international trends have an important influence on lawmakers nationally. The Financial Sector Regulation Bill, also known as the "Twin Peaks" Bill, is the latest invention from the table of the legislature, and some expect this Bill to have far-reaching consequences for the financial services industry. The question is, of course, whether the current dispensation will change so quickly and so dramatically that it will literally be the end of the world as we know it or whether there will be a gradual shift in emphasis away from the so-called silo regulatory approach to an approach that distinguishes between prudential regulation on the one hand and market conduct regulation on the other. A further question is whether insurance as a financial service will change dramatically in the light of the expected twin peak dispensation. The purpose of this paper is to discuss the implications of the FSR Bill for the insurance industry. Instead of analysing the Bill feature for feature, the method that will be used in this enquiry is to identify trends and issues from 2014 and to discuss whether the Twin Peaks model, once implemented, can successfully eradicate similar problems in future. The impact of Twin Peaks will of course have to be tested, but at this point in time it may be very useful to take an educated guess by using recent cases as examples. Recent cases before the courts, the Enforcement Committee and the FAIS Ombud will be discussed not only as examples of the most prevalent issues of the past year or so, but also as examples of how consumer issues and systemic risks are currently being dealt with and how this may change with the implementation of the FSR Bill.

  19. When nursing takes ownership of financial outcomes: achieving exceptional financial performance through leadership, strategy, and execution.

    Science.gov (United States)

    Goetz, Kristopher; Janney, Michelle; Ramsey, Kristin

    2011-01-01

    With nurses and unlicensed supportive personnel composing the greatest percentage of the workforce at any hospital, it is not surprising nursing leadership plays an increasing role in the attainment of financial goals. The nursing leadership team at one academic medical center reduced costs by more than $10 million over 4 years while outperforming national benchmarks on nurse-sensitive quality indicators. The most critical success factor in attaining exceptional financial performance is a personal and collective accountability to achieving outcomes. Whether it is financial improvement, advancing patient safety, or ensuring a highly engaged workforce, success will not be attained without thoughtful, focused leadership. The accountability model ensures there is a culture built around financial performance where nurses and leaders think and act, on a daily basis, in a manner necessary to understand opportunities, find answers, and overcome obstacles. While structures, processes, and tools may serve as the means to achieve a target, it is leadership's responsibility to set the right goal and motivate others.

  20. "It's at a time in your life when you are most vulnerable": a qualitative exploration of the financial impact of a cancer diagnosis and implications for financial protection in health.

    Science.gov (United States)

    Timmons, Aileen; Gooberman-Hill, Rachael; Sharp, Linda

    2013-01-01

    Although cancer patients may incur a wide range of cancer-related out-of-pocket costs and experience reduced income, the consequences of this financial burden are poorly understood. We investigated: financial adjustments needed to cope with the cancer-related financial burden; financial distress (defined as a reaction to the state of personal finances); and factors that increase risk of financial difficulties. Two sets of semi-structured face-to-face interviews were conducted with 20 patients with breast, lung and prostate cancer and 21 hospital-based oncology social workers (OSWs) in Ireland, which has a mixed public-private healthcare system. Participants were asked about: strategies to cope with the cancer-related financial burden; the impact of the financial burden on the family budget, other aspects of daily life, and wellbeing. OSWs were also asked about patient groups they thought were more likely to experience financial difficulties. The two interview sets were analysed separately using a thematic approach. Financial adjustments included: using savings; borrowing money; relying on family and friends for direct and indirect financial help; and cutting back on household spending. Financial distress was common. Financial difficulties were more likely for patients who were older or younger, working at diagnosis, lacked social support, had dependent children, had low income or had few savings. These issues often interacted with one another. As has been seen in predominantly publically and predominantly privately-funded healthcare settings, a complex mixed public-private healthcare system does not always provide adequate financial protection post-cancer. Our findings highlight the need for a broader set of metrics to measure the financial impact of cancer (and to assess financial protection in health more generally); these should include: out-of-pocket direct medical and non-medical costs; changes in income; financial adjustments (including financial coping

  1. "It's at a time in your life when you are most vulnerable": a qualitative exploration of the financial impact of a cancer diagnosis and implications for financial protection in health.

    Directory of Open Access Journals (Sweden)

    Aileen Timmons

    Full Text Available Although cancer patients may incur a wide range of cancer-related out-of-pocket costs and experience reduced income, the consequences of this financial burden are poorly understood. We investigated: financial adjustments needed to cope with the cancer-related financial burden; financial distress (defined as a reaction to the state of personal finances; and factors that increase risk of financial difficulties. Two sets of semi-structured face-to-face interviews were conducted with 20 patients with breast, lung and prostate cancer and 21 hospital-based oncology social workers (OSWs in Ireland, which has a mixed public-private healthcare system. Participants were asked about: strategies to cope with the cancer-related financial burden; the impact of the financial burden on the family budget, other aspects of daily life, and wellbeing. OSWs were also asked about patient groups they thought were more likely to experience financial difficulties. The two interview sets were analysed separately using a thematic approach. Financial adjustments included: using savings; borrowing money; relying on family and friends for direct and indirect financial help; and cutting back on household spending. Financial distress was common. Financial difficulties were more likely for patients who were older or younger, working at diagnosis, lacked social support, had dependent children, had low income or had few savings. These issues often interacted with one another. As has been seen in predominantly publically and predominantly privately-funded healthcare settings, a complex mixed public-private healthcare system does not always provide adequate financial protection post-cancer. Our findings highlight the need for a broader set of metrics to measure the financial impact of cancer (and to assess financial protection in health more generally; these should include: out-of-pocket direct medical and non-medical costs; changes in income; financial adjustments (including

  2. A financial network perspective of financial institutions' systemic risk contributions

    Science.gov (United States)

    Huang, Wei-Qiang; Zhuang, Xin-Tian; Yao, Shuang; Uryasev, Stan

    2016-08-01

    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.

  3. 76 FR 23859 - Financial Management Service Proposed Collection of Information; Financial Institution Agreement...

    Science.gov (United States)

    2011-04-28

    ... Fiscal Service Financial Management Service Proposed Collection of Information; Financial Institution... the Financial Institution Agreement and Application AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice and request for comments. SUMMARY: The Financial Management Service, as...

  4. THE ROLE OF FINANCIAL EDUCATION IN DEVELOPING THE FINANCIAL SERVICES MARKET

    OpenAIRE

    Ivanka Daneva

    2015-01-01

    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.

  5. THE ROLE OF FINANCIAL EDUCATION IN DEVELOPING THE FINANCIAL SERVICES MARKET

    OpenAIRE

    Ivanka Daneva

    2015-01-01

    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.

  6. Fighting the Financial Crisis

    DEFF Research Database (Denmark)

    Hull Kristensen, Peer

    2015-01-01

    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...

  7. Trusts and Financialization

    DEFF Research Database (Denmark)

    Harrington, Brooke

    2016-01-01

    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...... mobility. As a result, trusts have become common in contemporary structured finance for corporations, in addition to their traditional functions as estate planning and asset protection vehicles for high-net-worth individuals. This article specifies three ways in which the trust structure has facilitated...... 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...

  8. Trusts and Financialization

    DEFF Research Database (Denmark)

    Harrington, Brooke

    2017-01-01

    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...... mobility. As a result, trusts have become common in contemporary structured finance for corporations, in addition to their traditional functions as estate planning and asset protection vehicles for high-net-worth individuals. This article specifies three ways in which the trust structure has facilitated...... 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...

  9. 77 FR 16894 - Financial Research Advisory Committee

    Science.gov (United States)

    2012-03-22

    ... 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...

  10. On polar daily geomagnetic variation

    Directory of Open Access Journals (Sweden)

    Paola De Michelis

    2015-11-01

    Full Text Available The aim of this work is to investigate the nature of the daily magnetic field perturbations produced by ionospheric and magnetospheric currents at high latitudes. We analyse the hourly means of the X and Y geomagnetic field components recorded by a meridian chain of permanent geomagnetic observatories in the polar region of the Northern Hemisphere during a period of four years (1995-1998 around the solar minimum. We apply a mathematical method, known as natural orthogonal component (NOC, which is capable of characterizing the dominant modes of the geomagnetic field daily variability through a set of empirical orthogonal functions (EOFs. Using the first two modes we reconstruct a two-dimensional equivalent current representation of the ionospheric electric currents, which contribute substantially to the geomagnetic daily variations. The obtained current structures resemble the equivalent current patterns of DP2 and DP1. We characterize these currents by studying their evolution with the geomagnetic activity level and by analysing their dependence on the interplanetary magnetic field. The obtained results support the idea of a coexistence of two main processes during all analysed period although one of them, the directly driven process, represents the dominant component of the geomagnetic daily variation.

  11. Tractor Operation and Daily Care.

    Science.gov (United States)

    Fore, J. M.; And Others

    Written for the tractor operator, the manual describes, with the aid of colored illustrations and diagrams, the tasks involved in the proper operation and daily maintenance of tractors. It offers explanations for the desirability of the various servicing and adjustment operations, as well as guidelines for tractor operation and safety. The…

  12. Daily practices, consumption and citizenship.

    Science.gov (United States)

    Mazzarino, Jane M; Morigi, Valdir J; Kaufmann, Cristine; Farias, Alessandra M B; Fernandes, Diefersom A

    2011-12-01

    This paper promotes a reflection on the relationship between daily practices and consumption. Understanding how conflicts, resistance and consensus are generated from daily consumption practices opens up possibilities for reflecting on the construction of sustainability in the context of diversity, one of the landmarks of the globalized world. Within this socio-cultural context, the central issue is: can consumption generate citizenship practices? The concepts of subject and agent help one think about collective action and subjectivation processes and their interferences on the collective consuming behavior. Based on empirical data from a research carried out in the municipality of Estrela in 2007, in the Taquari Valley - Rio Grande do Sul (Southern Brazil) on local reality consumption practices, it was possible to conclude that various reasoning mechanisms and values underlie the daily consumption practices. Citizenship construction, based on consumption practices, depends on the subject's reflection capacity on his/her daily practices or on what goes through the circulation of environmental information based on sociability spaces.

  13. Digital Daily Cycles of Individuals

    Directory of Open Access Journals (Sweden)

    Talayeh eAledavood

    2015-10-01

    Full Text Available Humans, like almost all animals, are phase-locked to the diurnal cycle. Most of us sleep at night and are active through the day. Because we have evolved to function with this cycle, the circadian rhythm is deeply ingrained and even detectable at the biochemical level. However, within the broader day-night pattern, there are individual differences: e.g., some of us are intrinsically morning-active, while others prefer evenings. In this article, we look at digital daily cycles: circadian patterns of activity viewed through the lens of auto-recorded data of communication and online activity. We begin at the aggregate level, discuss earlier results, and illustrate differences between population-level daily rhythms in different media. Then we move on to the individual level, and show that there is a strong individual-level variation beyond averages: individuals typically have their distinctive daily pattern that persists in time. We conclude by discussing the driving forces behind these signature daily patterns, from personal traits (morningness/eveningness to variation in activity level and external constraints, and outline possibilities for future research.

  14. Communication impacting financial markets

    Science.gov (United States)

    Vitting Andersen, Jørgen; Vrontos, Ioannis; Dellaportas, Petros; Galam, Serge

    2014-10-01

    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

  15. Basic Financial Accounting

    DEFF Research Database (Denmark)

    Wiborg, Karsten

    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....

  16. Weathering the financial storm

    DEFF Research Database (Denmark)

    Ólafsson, Tjörvi; Pétursson, Thórarinn G.

    2011-01-01

    to explain a significant share of the cross-country variation in the depth and duration of the crisis and provide quite sharp predictions of the incidence of banking and currency crises. This suggests that country-specific initial conditions played an important role in determining the economic impact...... of the crisis and, in particular, that countries with sound fundamentals and flexible economic frameworks were better able to weather the financial storm....

  17. Daily air pollution levels and acute asthma in southern Sweden

    Energy Technology Data Exchange (ETDEWEB)

    Forsberg, B. [Umeaa Univ., Dept. og Environmental Health (Sweden); Stjernberg, N. [National Inst. for Working Life, Umeaa (Sweden); Linne, R. [Landskrona Hospital (Sweden); Segerstedt, B. [Umeaa Univ., School of Business (Sweden); Wall, S. [Umeaa Univ., Dept. of Epidemiology and Public Health (Sweden)

    1998-10-01

    This study aimed to investigate the association between daily air pollution levels and the occurrence of acute respiratory signs and symptoms among people with asthma or asthma-like problems. Thirty eight subjects in the southern Swedish city of Landskrona kept a daily diary for 10 weeks. The daily prevalence of symptoms, supplementary bronchodilator use and peak flow deviations were compared with measurements of environmental nitrogen dioxide (NO{sub 2}), sulphur dioxide, temperature and humidity in the city. The occurrence of severe asthma, both during the day and during the evening, was significantly positively associated with the concurrent 24 h average concentration of NO{sub 2}, which never exceeded 72 {mu}m{sup 3}. A correlation of borderline significance was found between the use of on-demand medication and the NO{sub 2} level. However, peak flow deviations were not associated with air pollution or weather conditions, which may be explained by the beneficial effect of bronchodilators used by 28 of the subjects. The results of this study confirm those of some earlier studies and suggest that aggravation of asthma is related to daily variations in air quality, as indicated by relatively low ambient concentrations of nitrogen dioxide. These results also indicate that it may be appropriate to examine severe asthma symptoms separately. (au) 33 refs.

  18. Understanding Trust in Financial Services

    DEFF Research Database (Denmark)

    Hansen, Torben

    2012-01-01

    , respectively. In addition, the results marginally indicate that broad-scope trust negatively moderates the relationship between consumer financial knowledge and narrow-scope trust. This study encourages public policy makers, consumer organizations, and financial service providers to continue, improve, and...... their customers and/or in improving their financial healthiness........ This research extends prior research by developing a conceptual framework explaining how these constructs affect consumers' trust in their financial service provider. Based on two surveys comprising 764 pension consumers and 892 mortgage consumers, respectively, the results of this study indicate that financial...

  19. Weathering the financial storm

    DEFF Research Database (Denmark)

    Ólafsson, Tjörvi; Pétursson, Thórarinn G.

    2011-01-01

    The recent global financial tsunami has had economic consequences that have not been witnessed since the Great Depression. But while some countries suffered a particularly large contraction in economic activity on top of a system-wide banking collapse, others came off relatively lightly. In this ......The recent global financial tsunami has had economic consequences that have not been witnessed since the Great Depression. But while some countries suffered a particularly large contraction in economic activity on top of a system-wide banking collapse, others came off relatively lightly...... and severity of the crisis. In particular, we find that the pre-crisis rate of inflation is important in explaining the post-crisis experience. Our results also suggest an important role for financial factors. In particular, we find that large banking systems tended to be associated with a deeper and more...... protracted consumption contraction and a higher risk of a systemic banking or currency crisis. Our results suggest that greater exchange rate flexibility coincided with a smaller and shorter contraction, but at the same time increased the risk of a banking and currency crisis. Countries with exchange rate...

  20. Preventing Financial Risks

    Institute of Scientific and Technical Information of China (English)

    2012-01-01

    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.

  1. Fibrations of financial events

    CERN Document Server

    Carf\\i, David

    2011-01-01

    In this paper we shall prove that the plane of financial events, introduced and applied to financial problems by the author himself (see [2], [3] and [4]) 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...

  2. College Students and Financial Distress: Exploring Debt, Financial Satisfaction, and Financial Anxiety

    Science.gov (United States)

    Archuleta, Kristy L.; Dale, Anita; Spann, Scott M.

    2013-01-01

    The impact of financial concerns on overall mental health has become a popular topic among researchers and practitioners. In this exploratory study, possible associations of financial anxiety were explored using a sample of 180 college students who sought services at a university peer financial counseling center in a Midwestern state. Of…

  3. Non-stationarity in daily and sub-daily intense rainfall – Part 1: Sydney, Australia

    Directory of Open Access Journals (Sweden)

    D. Jakob

    2011-08-01

    Full Text Available This study was driven by a need to clarify how variations in climate might affect intense rainfall and the potential for flooding. Sub-daily durations are of particular interest for urban applications. Worldwide, few such observation-based studies exist, which is mainly due to limitations in data. While there are still large discrepancies between precipitation data sets from observations and models, both show that there is a tendency for moist regions to become wetter and for dry regions to become drier. However, changes in extreme conditions may show the opposite sign to those in average conditions. Where changes in observed intense precipitation have been studied, this has typically been for daily durations or longer.

    The purpose of this two-part study is to examine daily and sub-daily rainfall extremes for evidence of non-stationarity. Here the problem was addressed by supplementing one long record (Part 1 by a set of shorter records for a 30-yr concurrent period (Part 2. Variations in frequency and magnitude of rainfall extremes across durations from 6 min to 72 h were assessed using data from sites in the south-east of Australia. For the analyses presented in this paper, a peaks-over-threshold approach was chosen since it allows investigating changes in frequency as well as magnitude. Non-parametric approaches were used to assess changes in frequency, magnitude, and quantile estimates as well as the statistical significance of changes for one station (Sydney Observatory Hill for the period 1921 to 2005. Deviations from the long-term average vary with season, duration, and threshold. The effects of climate variations are most readily detected for the highest thresholds. Deviations from the long-term average tend to be larger for frequencies than for magnitudes, and changes in frequency and magnitude may have opposite signs.

    Investigations presented in this paper show that variations in frequency and magnitude of events at

  4. MODERN FEATURES OF FINANCIAL GLOBALIZATION

    Directory of Open Access Journals (Sweden)

    VALENTINA FETINIUC

    2013-10-01

    Full Text Available 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 resources in accordance with the needs and possibilities of development of production not only at national but also at the global level. In this work are presented modern views on financial globalization under aspect of concepts, trends, effects and perspectives.

  5. Integrated Financial Management Program

    Science.gov (United States)

    Pho, Susan

    2004-01-01

    Having worked in the Employees and Commercial Payments Branch of the Financial Management Division for the past 3 summers, I have seen the many changes that have occurred within the NASA organization. As I return each summer, I find that new programs and systems have been adapted to better serve the needs of the Center and of the Agency. The NASA Agency has transformed itself the past couple years with the implementation of the Integrated Financial Management Program (IFMP). IFMP is designed to allow the Agency to improve its management of its Financial, Physical, and Human Resources through the use of multiple enterprise module applications. With my mentor, Joseph Kan, being the branch chief of the Employees and Commercial Payments Branch, I have been exposed to several modules, such as Travel Manager, WebTads, and Core Financial/SAP, which were implemented in the last couple of years under the IFMP. The implementation of these agency-wide systems has sometimes proven to be troublesome. Prior to IFMP, each NASA Center utilizes their own systems for Payroll, Travel, Accounts Payable, etc. But with the implementation of the Integrated Financial Management Program, all the "legacy" systems had to be eliminated. As a result, a great deal of enhancement and preparation work is necessary to ease the transformation from the old systems to the new. All this work occurs simultaneously; for example, e-Payroll will "go live" in several months, but a system like Travel Manager will need to have information upgraded within the system to meet the requirements set by Headquarters. My assignments this summer have given me the opportunity to become involved with such work. So far, I have been given the opportunity to participate in projects resulting from a congressional request, several bankcard reconciliations, updating routing lists for Travel Manager, updating the majordomo list for Travel Manager approvers and point of contacts, and a NASA Headquarters project involving

  6. Structure and Connectivity Analysis of Financial Complex System Based on G-Causality Network

    Science.gov (United States)

    Xu, Chuan-Ming; Yan, Yan; Zhu, Xiao-Wu; Li, Xiao-Teng; Chen, Xiao-Song

    2013-11-01

    The recent financial crisis highlights the inherent weaknesses of the financial market. To explore the mechanism that maintains the financial market as a system, we study the interactions of U.S. financial market from the network perspective. Applied with conditional Granger causality network analysis, network density, in-degree and out-degree rankings are important indicators to analyze the conditional causal relationships among financial agents, and further to assess the stability of U.S. financial systems. It is found that the topological structure of G-causality network in U.S. financial market changed in different stages over the last decade, especially during the recent global financial crisis. Network density of the G-causality model is much higher during the period of 2007-2009 crisis stage, and it reaches the peak value in 2008, the most turbulent time in the crisis. Ranked by in-degrees and out-degrees, insurance companies are listed in the top of 68 financial institutions during the crisis. They act as the hubs which are more easily influenced by other financial institutions and simultaneously influence others during the global financial disturbance.

  7. Financial Stress, Financial Literacy, Counselling and the Risk of Homelessness

    Directory of Open Access Journals (Sweden)

    Adam Steen

    2013-09-01

    Full Text Available 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 help to prevent homelessness. This paper synthesises existing literature on this topic and considers these issues using the ABCX family stress model of Hill (1958 using data from an Australian program aimed at alleviating family homelessness, the Home Advice Program. We provide evidence that suggests that case management and support which incorporates financial counselling and financial literacy can assist in moderating the impact of financial stress and help those at risk of homelessness. The findings have implications for public policy in the areas of financial education, consumer finance, and social services provision.

  8. The PEAK experience in South Carolina

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1998-11-01

    The PEAK Institute was developed to provide a linkage for formal (schoolteachers) and nonformal educators (extension agents) with agricultural scientists of Clemson University`s South Carolina Agricultural Experiment Station System. The goal of the Institute was to enable teams of educators and researchers to develop and provide PEAK science and math learning experiences related to relevant agricultural and environmental issues of local communities for both classroom and 4-H Club experiences. The Peak Institute was conducted through a twenty day residential Institute held in June for middle school and high school teachers who were teamed with an Extension agent from their community. These educators participated in hands-on, minds-on sessions conducted by agricultural researchers and Clemson University Cooperative Extension specialists. Participants were given the opportunity to see frontier science being conducted by scientists from a variety of agricultural laboratories.

  9. Measuring financial performance: an overview of financial statements.

    Science.gov (United States)

    Dalsted, N L

    1995-07-01

    Financial management has emerged as a critical component in the long-term viability of today's ranches and farms. Proper and timely financial reporting and analysis of financial statements are valuable tools that agricultural producers can use to monitor, coordinate, and plan their operational production and marketing schemes and strategies. A side note to preparation of financial statements. With the concerns over lender liability issues associated with statements either assisted with or prepared by a lending officer, agricultural producers will be responsible for preparing their own statements. The lending institutions may prepare their own statements in their assessment of the financial condition of a business and or individual, but, ultimately, the responsibility of financial statements is the borrower's. Some of the material presented in this article provides important input for use in such analytical programs as the National Cattlemen's Association, Integrated Resource Committees, and Standard Performance Analysis (SPA). SPA techniques and associated software have been or currently are under development for cow-calf, stocker, seedstock, and sheep enterprises. Critical to the analysis is having complete and correct financial statements. These analytical programs build on the financial statements. These analytical programs build on the financial statements as recommended by the FFSTF. Proper financial reporting is critical not only to a SPA assessment but also to the overall financial management of today's farms and ranches. Recognizing the importance of financial management in production agriculture is not enough, taking a proactive stance in one's financial plan is paramount to success. Failure to do so will only enhance the exit rates of producers from production agriculture.

  10. Observability of market daily volatility

    Science.gov (United States)

    Petroni, Filippo; Serva, Maurizio

    2016-02-01

    We study the price dynamics of 65 stocks from the Dow Jones Composite Average from 1973 to 2014. We show that it is possible to define a Daily Market Volatility σ(t) which is directly observable from data. This quantity is usually indirectly defined by r(t) = σ(t) ω(t) where the r(t) are the daily returns of the market index and the ω(t) are i.i.d. random variables with vanishing average and unitary variance. The relation r(t) = σ(t) ω(t) alone is unable to give an operative definition of the index volatility, which remains unobservable. On the contrary, we show that using the whole information available in the market, the index volatility can be operatively defined and detected.

  11. The value of daily money management: an analysis of outcomes and costs.

    Science.gov (United States)

    Sacks, Debra; Das, Dhiman; Romanick, Raquel; Caron, Matt; Morano, Carmen; Fahs, Marianne C

    2012-01-01

    For vulnerable and frail older adults, management of daily financial obligations can become an overwhelming burden spiraling into at-risk situations. Social service agencies have developed community-based Daily Money Management programs to assist these adults in protecting their financial security. Through this study the authors present the first economic estimates of the costs of Daily Money Management programs which, along with case management programs, save $60,000 per individual when compared with the cost of nursing home placement, making them highly cost effective. Most importantly, individuals are able to remain in their homes. The authors address the current gap between cost-effective community-based practice and public policy support.

  12. Dayak and Their Daily Life

    Directory of Open Access Journals (Sweden)

    Hamid Darmadi

    2017-03-01

    Full Text Available This article titled "Dayak and Daily Life" This paper aims to reveal the Dayak and in their daily life. Dayak is a native of Borneo has its own characteristics. Dayak, divided into 405 sub-sub clans [1]. Each sub Dayak both Indonesia and Malaysia are identical. Dayak customs and culture comes from the word "Power" which means upstream, to refer to people who live in inland areas or in the interior of Borneo. In the arsenal of art and culture, Dayak has many similarities such as; saber, chopsticks, beliong, betang, cupai, renjung, empajang and others. Dayak indigenous religion is Kaharingan which is the original religion born of the cultural ancestors of the Dayaks. Most of the Dayak people still adhere to the belief of the existence of unseen objects in certain places such as rocks, large trees, planting gardens in the forest, lakes, pools, and others are believed to have "magical powers". Daily life of the Dayaks in general farming, farming. When will open farming land, farming they held ritual.

  13. Genesis nature of financial strategy

    Directory of Open Access Journals (Sweden)

    O.V. Pashchenko

    2015-03-01

    Full Text Available The article is devoted to the study of the origin and history of the interpretation of the genesis of «strategy», «financial strategy», its elements and composite types. Scientists studied different views on the concept of strategy. Several specific positions founders of different approaches to define the strategy of schools operating strategies involved in the formulation and implementation of the concept of «strategy». Evaluation of different schools of strategies that deepened understanding of the industry and its strategy in the early stages of formation. Based on the works of various scholars studied by the author actually proposed interpretation of the concept strategy. The general industry and functional strategies which include the following strategies: innovation, resource, financial, production, marketing and human resources. Allocated financial strategy and its significant impact on other strategies. Author developed financial sector strategy and financial strategy of competitive enterprise. The importance of financial strategies under conditions of companies and the industry as a whole, as well as components of development of financial strategy. Deals with the factors that must be considered in the development and implementation of financial strategies. The systems analysis strategies and the impact on financial results, the estimation of their attractiveness and risk. Considered classification on the basis of financial strategies and sectoral orientation of the financial sector strategy based on company size, its form and noted the importance of this trait in systematizing strategies. The expediency of the financial strategy. Defined competitive advantage and efficiency of business and industry through the implementation of various financial strategies.

  14. Some Phenomenological Aspects of the Peak Experience

    Science.gov (United States)

    Rosenblatt, Howard S.; Bartlett, Iris

    1976-01-01

    This article relates the psychological dynamics of "peak experiences" to two concepts, intentionality and paradoxical intention, within the philosophical orientation of phenomenology. A review of early philosophical theories of self (Kant and Hume) is presented and compared with the experiential emphasis found in the phenomenology of Husserl.…

  15. Some Phenomenological Aspects of the Peak Experience

    Science.gov (United States)

    Rosenblatt, Howard S.; Bartlett, Iris

    1976-01-01

    This article relates the psychological dynamics of "peak experiences" to two concepts, intentionality and paradoxical intention, within the philosophical orientation of phenomenology. A review of early philosophical theories of self (Kant and Hume) is presented and compared with the experiential emphasis found in the phenomenology of Husserl.…

  16. Real estate price peaks: a comparative overview

    CERN Document Server

    Röhner, B M

    2006-01-01

    First, we emphasize that the real estate price peaks which are currently under way in many industrialized countries (one important exception is Japan) share many of the characteristics of previous historical price peaks. In particular, we show that: (i) In the present episode real price increases are, at least for now, of the same order of magnitude as in previous episodes, typically of the order of 80 percent to 100 percent. (ii) Historically, price peaks turned out to be symmetrical with respect to the peak; soft landing, i.e. an upgoing phase followed by a plateau, has rarely (if ever) been observed. (iii) The inflated demand is mainly boosted by investors and high-income buyers. (iv) In the present as well as in previous episodes, the main engines in the upgoing phase have been the hot markets which developed in major cities such as London, Los Angeles, New York, Paris, San Francisco or Sydney. In our conclusion, we propose a prediction for real estate prices in the West of the United States over the peri...

  17. Financial Statements in Providing Financial Security of Agricultural Enterprises

    OpenAIRE

    Olha Vdovenko

    2014-01-01

    In conditions of severe market competition and economic turmoil financial security of agricultural businesses largely depends on the effectiveness of management decisions, reporting being the information support to ensure such decision making. Thus, the practice of preparing accounting figures and their adjustment has a direct effect on agricultural businesses financial security. Having been generalized at the industry level, statistical and financial statements are used for the development o...

  18. On the Welfare Implications of Financial Globalization without Financial Development

    OpenAIRE

    Enrique G. Mendoza; Vincenzo Quadrini; José-Víctor Ríos-Rull

    2007-01-01

    It is widely argued that countries can reap large gains from liberalizing their capital accounts if financial globalization is accompanied by the development of domestic institutions and financial markets. However, if liberalization does not lead to financial development, globalization can result in adverse effects on social welfare and the distribution of wealth. We use a multi-country model with non-insurable idiosyncratic risk to show that, if countries differ in the degree of asset market...

  19. Financial Development, Financial Structure, and Domestic Investment: International Evidence

    OpenAIRE

    Ndikumana, Léonce

    2003-01-01

    Does it matter for domestic investment whether a country’s financial system is bank based or stock-market based? This paper posits that financial intermediation affects domestic investment notably by alleviating financing constraints, allowing firms to increase investment in response to increased demand for output. The key result is that the structure of the financial system has no independent effect on investment, in the sense that it does not enhance the response of investment to changes in...

  20. Reconfiguring the Financial Markets

    Directory of Open Access Journals (Sweden)

    Ion Bucur

    2009-12-01

    Full Text Available The debut of the new millennium is marked by the increased economic and social imbalances. An important task of economic science is to identify the causes and factors that contributed to the radical transformation of the unfolding conditions of economic activity. The existence of different perspectives to approach the new realities may offer greater opportunities for decrypting the conditions that generated so far unknown developments, as well as for shaping solutions to promote new paths of progress and civilization. The defining with profound implications on the economy and society is represented by the globalization. From this perspective, we have analysed the new dimensions of capital accumulation and economic growth in the context of deregulation and liberalization of the international capital movements. In this context, we have noticed the increasing influence of the financial markets on the economy, the tendency to remove the finances from the real economy requirements, the growing role of external financing using more volatile capital goods, increased competition regarding the access to financing, the significant increase of power of the international capital markets whose characteristic is represented by the increased instability, the implications of the investors’ obsession with an excessive profitableness of their own funds and the expansion of using sophisticated financial products. Realities of today’s financial markets, which are the subject of numerous studies and analysis, have contributed to the association of the arguments that are contesting the thesis on the virtues of self-regulation markets and promoting a new paradigm, within which finances should subordinate the requirements of a balanced and sustained economic growth.

  1. Spanish Peaks, Sangre de Cristo Range, Colorado

    Science.gov (United States)

    2002-01-01

    The Spanish Peaks, on the eastern flank of the Sangre de Cristo range, abruptly rise 7,000 feet above the western Great Plains. Settlers, treasure hunters, trappers, gold and silver miners have long sighted on these prominent landmarks along the Taos branch of the Santa Fe trail. Well before the westward migration, the mountains figured in the legends and history of the Ute, Apache, Comanche, and earlier tribes. 'Las Cumbres Espanolas' are also mentioned in chronicles of exploration by Spaniards including Ulibarri in 1706 and later by de Anza, who eventually founded San Francisco (California). This exceptional view (STS108-720-32), captured by the crew of Space Shuttle mission STS108, portrays the Spanish Peaks in the context of the southern Rocky Mountains. Uplift of the Sangre de Cristo began about 75 million years ago and produced the long north-trending ridges of faulted and folded rock to the west of the paired peaks. After uplift had ceased (26 to 22 million years ago), the large masses of igneous rock (granite, granodiorite, syenodiorite) that form the Peaks were emplaced (Penn, 1995-2001). East and West Spanish Peaks are 'stocks'-bodies of molten rock that intruded sedimentary layers, cooled and solidified, and were later exposed by erosion. East Peak (E), at 12,708 ft is almost circular and is about 5 1/2 miles long by 3 miles wide, while West Peak (W), at 13,623 ft is roughly 2 3/4 miles long by 1 3/4 miles wide. Great dikes-long stone walls-radiate outward from the mountains like spokes of a wheel, a prominent one forms a broad arc northeast of East Spanish Peak. As the molten rock rose, it forced its way into vertical cracks and joints in the sedimentary strata; the less resistant material was then eroded away, leaving walls of hard rock from 1 foot to 100 feet wide, up to 100 feet high, and as long as 14 miles. Dikes trending almost east-west are also common in the region. For more information visit: Sangres.com: The Spanish Peaks (accessed January 16

  2. Financial Literacy, Financial Education and Economic Outcomes. NBER Working Paper No. 18412

    Science.gov (United States)

    Hastings, Justine S.; Madrian, Brigitte C.; Skimmyhorn, William L.

    2012-01-01

    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…

  3. Financial Literacy, Financial Education and Economic Outcomes. NBER Working Paper No. 18412

    Science.gov (United States)

    Hastings, Justine S.; Madrian, Brigitte C.; Skimmyhorn, William L.

    2012-01-01

    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…

  4. Offshoring and financial markets

    Directory of Open Access Journals (Sweden)

    Gianfranco Battisti

    2014-06-01

    Full Text Available The paper analyses the nature and extent of the offshore world, a grey area that is playing a major role in present-day economy. The main institutions moulding this peculiar environment are discussed: preferential tax regimes, tax havens and offshore financial centers. Their role in the globalised world is outlined after a scrutiny of the specialized literature, reports by non-governmental bodies and companies’ advertisings. Finally, we present a tentative reconstruction of its geographical organization, inclusive of cartographic representations of the main international networks.

  5. Analyzing Chinese Financial Reporting

    Institute of Scientific and Technical Information of China (English)

    SABRINA; ZHANG

    2008-01-01

    If the world’s capital markets could use a harmonized accounting framework it would not be necessary for a comparison between two or more sets of accounting standards. However,there is much to do before this becomes reality.This article aims to pres- ent a general overview of China’s General Accepted Accounting Principles(GAAP), U.S.General Accepted Accounting Principles and International Financial Reporting Standards(IFRS),and to analyze the differ- ences among IFRS,U.S.GAAP and China GAAP using fixed assets as an example.

  6. 50 CFR 20.24 - Daily limit.

    Science.gov (United States)

    2010-10-01

    ... 50 Wildlife and Fisheries 6 2010-10-01 2010-10-01 false Daily limit. 20.24 Section 20.24 Wildlife... (CONTINUED) MIGRATORY BIRD HUNTING Taking § 20.24 Daily limit. No person shall take in any 1 calendar day, more than the daily bag limit or aggregate daily bag limit, whichever applies....

  7. Financial crises and volatility spillovers among emerging European equity markets

    Directory of Open Access Journals (Sweden)

    Ugur Ergun

    2014-08-01

    Full Text Available Financial crisis not only have statistically but also economically significant impact on global equity market returns. This study analyzes whether current financial crisis affect the equity market returns of Balkan transition economies and what is the extent of such impact by employing Generalized Autoregressive Conditional Heteroscedasticity model is employed on daily data spans from 2006 to 2012 for three transition economies which are Bosnia-Herzegovina, Croatia and Serbia. Empirical result indicates that volatility of Serbian stock price is influenced by the volatility of Bosnian and Croatian stock prices. There is one way volatility transmission from Bosnian and Croatian stock markets to Serbian stock market. High degree of volatility is observed in the stock markets during latest financial crises.

  8. Statistical inference for financial engineering

    CERN Document Server

    Taniguchi, Masanobu; Ogata, Hiroaki; Taniai, Hiroyuki

    2014-01-01

    This monograph provides the fundamentals of statistical inference for financial engineering and covers some selected methods suitable for analyzing financial time series data. In order to describe the actual financial data, various stochastic processes, e.g. non-Gaussian linear processes, non-linear processes, long-memory processes, locally stationary processes etc. are introduced and their optimal estimation is considered as well. This book also includes several statistical approaches, e.g., discriminant analysis, the empirical likelihood method, control variate method, quantile regression, realized volatility etc., which have been recently developed and are considered to be powerful tools for analyzing the financial data, establishing a new bridge between time series and financial engineering. This book is well suited as a professional reference book on finance, statistics and statistical financial engineering. Readers are expected to have an undergraduate-level knowledge of statistics.

  9. Macroprudential policy and financial stability

    Directory of Open Access Journals (Sweden)

    Bogdan CHIRIACESCU

    2013-02-01

    Full Text Available This paper tries a conceptual framing of the issue of financial stability in economic theory and also to identify solutions to address episodes of financial instability. An essential reference is Minsky's financial instability hypothesis, which argues that a fundamental feature of the financial system is that it swings between robustness and fragility and these pendulum swings are an integral part of the process that generates the business cycle. Studies show that the effects of banking crises on economic activity are important both in magnitude and duration. Recently, macroprudential policy stood out as a central pillar in promoting financial stability in a broad sense. Regarding specific objectives of macroprudential policy, the prevalent vision refers to limiting systemic risk and macroeconomic costs of financial crises, but there are also important nuances.

  10. Financial issues for hospital auxiliaries.

    Science.gov (United States)

    Fogel, L A

    1986-01-01

    Auxiliaries can serve a more important financial role in today's environment than ever before. Hospitals are searching for positive avenues to promote themselves to the community and to generate more financial support to help offset the losses created by decreasing inpatient utilization and payments from third-party payers. Auxiliaries should recognize that their financial role has never been more important to the financial viability of their hospitals. Auxiliaries should communicate closely with hospital administration so that both organizations work to achieve compatible goals. Auxiliaries should be operated more like businesses, which means establishing goals and objectives, preparing effective budgets and interim financial statements, thinking and planning innovatively, and establishing adequate inventory controls, investment policies, and pricing structures. If auxiliaries follow these steps, they will not only succeed in providing more financial support to hospitals than ever before but will also receive the recognition and support they deserve for their effort.

  11. Financial crisis: theory and practice

    OpenAIRE

    Ramírez Sarrió, Dídac; Ceballos Hornero, David; Rodriguez, Martha; Cortez, Klender; Cantarero Prieto, David; CASTILLO, Jorge; Fuenzalida, Darcy; Garcia, Heriberto; Mongrut, Samuel; Nash, Mauricio; Rosales, Luis Francisco; Torres, Gabriela; Treviño, Eduardo

    2009-01-01

    In the last 50 years, we have had approximately 40 events with characteristics related to financial crisis. The most severe crisis was in 1929, when the financial markets plummet and the US gross domestic product decline in more than 30 percent. Recently some years ago, a new crisis developed in the United States, but instantly caused consequences and effects in the rest of the world. This new economic and financial crisis has increased the interest and motivation for the academic communit...

  12. Essays on financial analysts' forecasts

    OpenAIRE

    2006-01-01

    This dissertation contains three self-contained chapters dealing with specific aspects of financial analysts' earnings forecasts. After recent accounting scandals, much attention has turned to the incentives present in the career of professional financial analysts. The literature points to several reasons why financial analysts behave overoptimistically when providing their predictions. In particular, analysts may wish to maintain good relations with firm management, to please the underwriter...

  13. Financial accounting for radiology executives.

    Science.gov (United States)

    Seidmann, Abraham; Mehta, Tushar

    2005-03-01

    The authors review the role of financial accounting information from the perspective of a radiology executive. They begin by introducing the role of pro forma statements. They discuss the fundamental concepts of accounting, including the matching principle and accrual accounting. The authors then explore the use of financial accounting information in making investment decisions in diagnostic medical imaging. The paper focuses on critically evaluating the benefits and limitations of financial accounting for decision making in a radiology practice.

  14. What are financial journalists for?

    OpenAIRE

    2010-01-01

    In order to understand why so little media attention was paid to risks in the banking sector in the run up to the financial crisis, we need to understand the framework of law, regulation, self-regulation and professional incentives that structure the practice of financial and business journalism. This paper focuses in particular on what role financial journalists play in the system of corporate governance, the ways in which law and regulation recognize that role, and the extent to which this ...

  15. FINANCIAL DIAGNOSIS OF STOCKS

    Directory of Open Access Journals (Sweden)

    SUCIU GHEORGHE

    2014-12-01

    Full Text Available 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 that produces household products and a trade company. In the first one, the working capital must be positive, because permanent capitals must finance the fixed assets which have a high value, and the working capital will finance the operating cycle. In case of a trade company, a negative working capital might represent a positive activity, because the duration of the operating cycle is much shorter, and short term sources can also finance the company’s tangible assets.

  16. What Role Have Banks in Financial Crises?

    OpenAIRE

    Andries, Alin Marius

    2009-01-01

    Financial crises mainly manifest themselves at the level of financial institutions. Although financial crises can also be generated within non-financial institutions, the role of banking institutions in the occurrence, transmitting and solving of financial crises is a deciding one. Banks play a deciding role in the development of financial crises as financial intermediaries who contribute to the efficient transfer of funds from the abundant agent towards the deficit agents. Banks can facilita...

  17. The Company Financial Diagnosis Informatic System

    OpenAIRE

    Alin Isac; Claudia Isac

    2005-01-01

    Specialists consider a financial diagnosis necessary for measuring the profitableness of invested capital and for estimating the economic and financial equilibrium, which has a certain influence on the economic, financial, and bankruptcy risk rate. Thus, the main purpose of any financial diagnosis is to point out the financial state of the company in order to identify possible causes and effects. A financial diagnosis starts with determining and interpreting a set of economic- financial indic...

  18. Benefits of once-daily therapies in the treatment of hypertension

    Science.gov (United States)

    Flack, John M; Nasser, Samar A

    2011-01-01

    In patients with hypertension, 24-hour blood pressure control is the major therapeutic goal. The number of daily doses is one characteristic of an antihypertensive agent that may affect the adequacy of 24-hour control. One measure of therapeutic coverage is the 24-hour trough-to-peak ratio, which determines the suitability of an agent for once-daily administration. The closer an agent is to a 100% trough-to-peak ratio, the more uniform the 24-hour coverage and therefore blood pressure control. High trough-to-peak ratio, long-acting antihypertensive medications lower blood pressure more gradually, which reduces the likelihood of adverse events attributable to abrupt drug action that occurs with shorter-acting agents. In hypertension, the natural diurnal variation of blood pressure may be altered, including elevated nighttime pressures. An optimal once-daily hypertension therapy would not only lower blood pressure but also normalize any blunted circadian variations in blood pressure. The benefits of once-daily agents with sustained therapeutic coverage may also be explained, in part, by increased patient adherence to simpler regimens as well as lower loss of blood pressure control during virtually inevitable intermittent noncompliance. Studies have demonstrated that once-daily antihypertensive agents have the highest adherence compared with twice-daily or multiple daily doses, including greater adherence to the prescribed timing of doses. PMID:22241952

  19. Endogenous money, circuits and financialization

    OpenAIRE

    Malcolm Sawyer

    2013-01-01

    This paper locates the endogenous money approach in a circuitist framework. It argues for the significance of the credit creation process for the evolution of the economy and the absence of any notion of ‘neutrality of money’. Clearing banks are distinguished from other financial institutions as the providers of initial finance in a circuit whereas other financial institutions operate in a final finance circuit. Financialization is here viewed in terms of the growth of financial assets an...

  20. Genesis of enterprise financial security

    Directory of Open Access Journals (Sweden)

    Davydenko N. M.

    2015-05-01

    Full Text Available The article analyzes the scientific approaches to the definition of «financial security of entities», advantages and disadvantages of these approaches are highlighted. The own definition of financial security of entities is given. The composition of elements of enterprise financial security and principles of its provision are defined. Тhe role of individual elements of financial security to ensure high efficiency operation and development of enterprises is significant and has a direct impact on their solvency, liquidity and profitability.

  1. Balancing Responsibilities – Financial Literacy

    Directory of Open Access Journals (Sweden)

    Gail Pearson

    2017-03-01

    Full Text Available In Australia there is an obligation to promote the informed participation of financial consumers while in South Africa there is an obligation to educate consumers. The Australian obligation is concerned with the financial system as a whole while the South African obligation has generally been focused on general financial education as a tool to promote financial inclusion. There is no obligation for consumers to attain a minimum standard of literacy in credit or finance generally. Financial literacy is one among a number of strategies directed towards inducing changes in consumer behaviour. It sits between the old regulatory model which relies on disclosure of information for effective and rational decision-making and a newer regulatory model which takes into account individuals' perceptions and behavioural biases and may seek to accommodate for these by imposing obligations on financial services providers beyond the mere disclosure of information. Financial literacy is generally the ability to understand how money works, how a person can earn money or make it more. It specifically refers to the set of skills and knowledge that allows people to make informed and effective decisions with all of their financial resources. This article discusses Australian and South African legal obligations and social responsibilities aimed at promoting the financial literacy of consumers.

  2. Welfare Gains from Financial Liberalization.

    Science.gov (United States)

    Townsend, Robert M; Ueda, Kenichi

    2010-08-01

    Financial liberalization has been a controversial issue, as empirical evidence for growth enhancing effects is mixed. Here, we find sizable welfare gains from liberalization (cost to repression), though the gain in economic growth is ambiguous. We take the view that financial liberalization is a government policy that alters the path of financial deepening, while financial deepening is endogenously chosen by agents given a policy and occurs in transition towards a distant steady state. This history-dependent view necessitates the use of simulation analysis based on a growth model. Our application is a specific episode: Thailand from 1976 to 1996.

  3. Benin - Access to Financial Services

    Data.gov (United States)

    Millennium Challenge Corporation — The performance evaluation undertaken included administrative financial data from MFIs and MSMEs which received grants under the Benin Compact as well as survey data...

  4. Australian Infrastructure Financial Management Guidelines

    Directory of Open Access Journals (Sweden)

    Chris Champion

    2009-11-01

    Full Text Available The Institute of Public Works Engineering Australia (IPWEA has recently published the Australian Infrastructure Financial Management Guidelines. The Guidelines provide new assistance to link the technical (engineering and financial aspects of managing infrastructure and services, and to assist infrastructure owners such as local government to develop sustainable long-term asset and financial management plans. Financial management for long-life infrastructure assets (such as roads, water, sewerage, and stormwater networks, and community buildings is about ensuring sustainability in the provision of services required by the community. These new Guidelines offer advice for every organisation and individual with responsibility for the management of infrastructure assets. They assist in defining best practice approaches for: • Accounting for infrastructure • Depreciation, valuation, useful life, fair value • Managing financial sustainability • Integrating asset management planning and long term financial planning • Meeting requirements for financial reporting The project was a joint initiative of IPWEA and the National Local Government Financial Management Forum. A steering committee representing national and state governments, technical and financial professionals, local government associations and auditors oversaw it.

  5. Predicting VO2peak from Submaximal- and Peak Exercise Models: The HUNT 3 Fitness Study, Norway.

    Directory of Open Access Journals (Sweden)

    Henrik Loe

    Full Text Available Peak oxygen uptake (VO2peak is seldom assessed in health care settings although being inversely linked to cardiovascular risk and all-cause mortality. The aim of this study was to develop VO2peak prediction models for men and women based on directly measured VO2peak from a large healthy population.VO2peak prediction models based on submaximal- and peak performance treadmill work were derived from multiple regression analysis. 4637 healthy men and women aged 20-90 years were included. Data splitting was used to generate validation and cross-validation samples.The accuracy for the peak performance models were 10.5% (SEE = 4.63 mL⋅kg(-1⋅min(-1 and 11.5% (SEE = 4.11 mL⋅kg(-1⋅min(-1 for men and women, respectively, with 75% and 72% of the variance explained. For the submaximal performance models accuracy were 14.1% (SEE = 6.24 mL⋅kg(-1⋅min(-1 and 14.4% (SEE = 5.17 mL⋅kg(-1⋅min(-1 for men and women, respectively, with 55% and 56% of the variance explained. The validation and cross-validation samples displayed SEE and variance explained in agreement with the total sample. Cross-classification between measured and predicted VO2peak accurately classified 91% of the participants within the correct or nearest quintile of measured VO2peak.Judicious use of the exercise prediction models presented in this study offers valuable information in providing a fairly accurate assessment of VO2peak, which may be beneficial for risk stratification in health care settings.

  6. Effect of gear ratio on peak power and time to peak power in BMX cyclists.

    Science.gov (United States)

    Rylands, Lee P; Roberts, Simon J; Hurst, Howard T

    2017-03-01

    The aim of this study was to ascertain if gear ratio selection would have an effect on peak power and time to peak power production in elite Bicycle Motocross (BMX) cyclists. Eight male elite BMX riders volunteered for the study. Each rider performed three, 10-s maximal sprints on an Olympic standard indoor BMX track. The riders' bicycles were fitted with a portable SRM power meter. Each rider performed the three sprints using gear ratios of 41/16, 43/16 and 45/16 tooth. The results from the 41/16 and 45/16 gear ratios were compared to the current standard 43/16 gear ratio. Statistically, significant differences were found between the gear ratios for peak power (F(2,14) = 6.448; p = .010) and peak torque (F(2,14) = 4.777; p = .026), but no significant difference was found for time to peak power (F(2,14) = 0.200; p = .821). When comparing gear ratios, the results showed a 45/16 gear ratio elicited the highest peak power,1658 ± 221 W, compared to 1436 ± 129 W and 1380 ± 56 W, for the 43/16 and 41/16 ratios, respectively. The time to peak power showed a 41/16 tooth gear ratio attained peak power in -0.01 s and a 45/16 in 0.22 s compared to the 43/16. The findings of this study suggest that gear ratio choice has a significant effect on peak power production, though time to peak power output is not significantly affected. Therefore, selecting a higher gear ratio results in riders attaining higher power outputs without reducing their start time.

  7. Managing Hypertriglyceridemia in Daily Practice.

    Science.gov (United States)

    Pramono, Laurentius A; Harbuwono, Dante S

    2015-07-01

    Hypertriglyceridemia is a form of dyslipidemia, which usually occurs in combination with hypercholesterolemia, high-LDL or low-HDL cholesterol level. Most studies suggest that hypertriglyceridemia is associated with many metabolic disorders such as metabolic syndrome, diabetes, obesity, and also cardio-cerebrovascular diseases. Treatment of hypertriglyceridemia is often not comprehensively addressed by many physicians, who usually only include prescribing drugs without encouraging patients to perform physical activity, to take a true healthy diet for dyslipidemia and to stop smoking. This review article discusses evaluation, diagnosis and a comprehensive, yet simple management of hypertriglyceridemia, which can be easily applied in daily clinical practice.

  8. Daily practices, consumption and citizenship

    Directory of Open Access Journals (Sweden)

    Jane M. Mazzarino

    2011-12-01

    Full Text Available This paper promotes a reflection on the relationship between daily practices and consumption. Understanding how conflicts, resistance and consensus are generated from daily consumption practices opens up possibilities for reflecting on the construction of sustainability in the context of diversity, one of the landmarks of the globalized world. Within this socio-cultural context, the central issue is: can consumption generate citizenship practices? The concepts of subject and agent help one think about collective action and subjectivation processes and their interferences on the collective consuming behavior. Based on empirical data from a research carried out in the municipality of Estrela in 2007, in the Taquari Valley - Rio Grande do Sul (Southern Brazil on local reality consumption practices, it was possible to conclude that various reasoning mechanisms and values underlie the daily consumption practices. Citizenship construction, based on consumption practices, depends on the subject's reflection capacity on his/her daily practices or on what goes through the circulation of environmental information based on sociability spaces.O artigo reflete sobre as relações entre as práticas cotidianas e o consumo. Compreender como se geram os conflitos, as resistências e os consensos a partir das práticas de consumo no cotidiano abre possibilidades para refletir sobre a construção da sustentabilidade no contexto de diversidade, uma das marcas do mundo globalizado. Neste contexto sociocultural, a questão central que surge é: o consumo pode gerar práticas de cidadania? As noções de sujeito e de agente ajudam a pensar a ação coletiva e os processos de subjetivação e suas interferências no comportamento coletivo de consumir. A partir de dados empíricos da pesquisa realizada em 2007 no município de Estrela, na região do Vale do Taquari - RS (Sul do Brasil, sobre práticas de consumo de uma realidade local, foi possível concluir que

  9. Digital daily cycles of individuals

    DEFF Research Database (Denmark)

    Aledavood, Talayeh; Jørgensen, Sune Lehmann; Saramäki, Jari

    2015-01-01

    Humans, like almost all animals, are phase-locked to the diurnal cycle. Most of us sleep at night and are active through the day. Because we have evolved to function with this cycle, the circadian rhythm is deeply ingrained and even detectable at the biochemical level. However, within the broader...... day-night pattern, there are individual differences: e.g., some of us are intrinsically morning-active, while others prefer evenings. In this article, we look at digital daily cycles: circadian patterns of activity viewed through the lens of auto-recorded data of communication and online activity. We...

  10. The Doppler peaks from a generic defect

    CERN Document Server

    Magueijo, J

    1996-01-01

    We investigate which of the exotic Doppler peak features found for textures and cosmic strings are generic novelties pertaining to defects. We find that the ``out of phase'' texture signature is an accident. Generic defects, when they generate a secondary peak structure similar to inflation, apply to it an additive shift. It is not necessary for this shift to be ``out of phase''. We also show which factors are responsible for the absence of secondary oscillations found for cosmic strings. Within this general analysis we finally consider the conditions under which topological defects and inflation can be confused. It is argued that only \\Omega=1 inflation and a defect with a horizon size coherence length have a chance to be confused. Any other inflationary or defect model always differ distinctly. (To appear in the proceedings of the XXXIth Moriond meeting, ``Microwave Background Anisotropies'')

  11. Solar Cycle 24: is the peak coming?

    CERN Document Server

    Sello, Stefano

    2012-01-01

    Solar cycle activity forecasting, mainly its magnitude and timing, is an essential issue for numerous scientific and technological applications: in fact, during an active solar period, many strong eruptions occur on the Sun with increasing frequency, such as flares, coronal mass ejections, high velocity solar wind photons and particles, which can severely affect the Earth's ionosphere and the geomagnetic field, with impacts on the low atmosphere. Thus it is very important to develop reliable solar cycle prediction methods for the incoming solar activity. The current solar cycle 24 appeared unusual from many points of view: an unusually extended minimum period, and a global low activity compared to those of the previous three or four cycles. Currently, there are many different evidences that the peak in the northern hemisphere already occurred at 2011.6 but not yet in the southern hemisphere. In this brief note we update the peak prediction and its timing, based on the most recent observations.

  12. Peak oil, food systems, and public health.

    Science.gov (United States)

    Neff, Roni A; Parker, Cindy L; Kirschenmann, Frederick L; Tinch, Jennifer; Lawrence, Robert S

    2011-09-01

    Peak oil is the phenomenon whereby global oil supplies will peak, then decline, with extraction growing increasingly costly. Today's globalized industrial food system depends on oil for fueling farm machinery, producing pesticides, and transporting goods. Biofuels production links oil prices to food prices. We examined food system vulnerability to rising oil prices and the public health consequences. In the short term, high food prices harm food security and equity. Over time, high prices will force the entire food system to adapt. Strong preparation and advance investment may mitigate the extent of dislocation and hunger. Certain social and policy changes could smooth adaptation; public health has an essential role in promoting a proactive, smart, and equitable transition that increases resilience and enables adequate food for all.

  13. Excursion set peaks: the role of shear

    CERN Document Server

    Castorina, Emanuele; Hahn, Oliver; Sheth, Ravi K

    2016-01-01

    Recent analytical work on the modelling of dark halo abundances and clustering has demonstrated the advantages of combining the excursion set approach with peaks theory. We extend these ideas and introduce a model of excursion set peaks that incorporates the role of initial tidal effects or shear in determining the gravitational collapse of dark haloes. The model -- in which the critical density threshold for collapse depends on the tidal influences acting on protohaloes -- is well motivated from ellipsoidal collapse arguments and is also simple enough to be analytically tractable. We show that the predictions of this model are in very good agreement with measurements of the halo mass function and traditional scale dependent halo bias in N-body simulations across a wide range of masses and redshift. The presence of shear in the collapse threshold means that halo bias is naturally predicted to be nonlocal, and that protohalo densities at fixed mass are naturally predicted to have Lognormal-like distributions. ...

  14. Reducing Peak Power in Automated Weapon Laying

    Science.gov (United States)

    2016-02-01

    The values used are determined based on a number of factors including available power, maximum motor speed , maximum safe slewing speeds , peak...METHODS, ASSUMPTIONS, AND PROCEDURES Conventions and Variable Definitions Before describing the formulas to solve the aforementioned problems, it is...These two formulas are set equal to each other in equation 9 and then solved for t2 in equation 10. Note that the negative value of α2 results in a

  15. Hanford Site peak gust wind speeds

    Energy Technology Data Exchange (ETDEWEB)

    Ramsdell, J.V.

    1998-09-29

    Peak gust wind data collected at the Hanford Site since 1945 are analyzed to estimate maximum wind speeds for use in structural design. The results are compared with design wind speeds proposed for the Hanford Site. These comparisons indicate that design wind speeds contained in a January 1998 advisory changing DOE-STD-1020-94 are excessive for the Hanford Site and that the design wind speeds in effect prior to the changes are still appropriate for the Hanford Site.

  16. METing SUSY on the Z peak

    Energy Technology Data Exchange (ETDEWEB)

    Barenboim, G.; Bernabeu, J.; Vives, O. [Universitat de Valencia, Departament de Fisica Teorica, Burjassot (Spain); Universitat de Valencia-CSIC, Parc Cientific U.V., IFIC, Paterna (Spain); Mitsou, V.A.; Romero, E. [Universitat de Valencia-CSIC, Parc Cientific U.V., IFIC, Paterna (Spain)

    2016-02-15

    Recently the ATLAS experiment announced a 3 σ excess at the Z-peak consisting of 29 pairs of leptons together with two or more jets, E{sub T}{sup miss} > 225 GeV and HT > 600 GeV, to be compared with 10.6 ± 3.2 expected lepton pairs in the Standard Model. No excess outside the Z-peak was observed. By trying to explain this signal with SUSY we find that only relatively light gluinos, m{sub g} or similar 400 GeV decaying predominantly to Z-boson plus a light gravitino, such that nearly every gluino produces at least one Z-boson in its decay chain, could reproduce the excess. We construct an explicit general gauge mediation model able to reproduce the observed signal overcoming all the experimental limits. Needless to say, more sophisticated models could also reproduce the signal, however, any model would have to exhibit the following features: light gluinos, or heavy particles with a strong production cross section, producing at least one Z-boson in its decay chain. The implications of our findings for the Run II at LHC with the scaling on the Z peak, as well as for the direct search of gluinos and other SUSY particles, are pointed out. (orig.)

  17. The Ethics of the Financial Crisis and Financial Reform

    NARCIS (Netherlands)

    I.P. van Staveren (Irene)

    2012-01-01

    textabstractThe paper analyses the financial crisis and financial reform from two alternative ethical perspectives as compared to the mainstream one in economics, utilitarianism. It contrasts deontology with the ethics of care and argues that the rule-based deontological approach is not able to

  18. Wealth Financialization: Operating Profit as Conditioning of Financial Revenue

    Directory of Open Access Journals (Sweden)

    Andréia Ribeiro Da Luz

    2015-04-01

    Full Text Available Objective. Due to the deregulation of the financial market in 80s decade, the financialization of wealth has become a globalized systemic pattern, giving companies greater access to financial innovations. In view of the above, the objective is to analyze whether the appreciation of capital through the financial system is preferred over the capital appreciation through production.Methodology. This is a descriptive research slitting with cross-sectional perspective, in which we considered information belonging to 106 listed non-financial companies in Brazil (2004–2012.Findings. This study suggests that operating income influences financial income positively.Limitations. The study includes just industrial sector companies in a specific period.Originality/Value. We discuss measuring instruments for analyzing the wealth financialization as a condition of operating profit gains from the financial market.Copyright © 2015 Instituto Brasileiro de Inovação Financeira All rights reserved.

  19. Understanding Financial Innovation: An Introduction to Derivative Financial Products.

    Science.gov (United States)

    Robinson, J. N.

    1992-01-01

    Explains the use of forwards, futures, swaps, and options in international currency trading. Argues that pricing options are based on the same basic principles as pricing other financial instruments. Concludes that, although financial markets have developed several new products, hedging and speculation involve similar processes. (CFR)

  20. The Ethics of the Financial Crisis and Financial Reform

    NARCIS (Netherlands)

    I.P. van Staveren (Irene)

    2012-01-01

    textabstractThe paper analyses the financial crisis and financial reform from two alternative ethical perspectives as compared to the mainstream one in economics, utilitarianism. It contrasts deontology with the ethics of care and argues that the rule-based deontological approach is not able to prev

  1. Financial Development, Financial Structure, and Macroeconomic Volatility: Evidence from China

    Directory of Open Access Journals (Sweden)

    Feng Wei

    2016-11-01

    Full Text Available Using annual data from 1997–2014 of 30 provinces, municipalities, and autonomous regions, subdividing trended and cyclical volatility of macroeconomics and inflation, considering different indicators of financial development and financial structure, this paper investigated the impact of financial development and financial structure on macroeconomic volatility. The empirical results found that (1 the trended and cyclical volatility of the previous macroeconomic period had a significantly positive impact on that of the current period, and the impact of trended volatility was greater than that of cyclical volatility; (2 financial development had a significantly negative impact on macroeconomic cyclical volatility through inflation cyclical volatility, but inflation trended volatility would amplify macroeconomic volatility; financial markets have no significant effect on macroeconomic volatility; financial structure measured with the ratio of stock market turnover and the efficiency of the financial development had a significant positive impact on macroeconomic cyclical volatility; and (3 inflation trended volatility had a significantly negative impact on macroeconomic cyclical volatility and trended volatility, while inflation cyclical volatility had a significantly positive impact on macroeconomic cyclical volatility.

  2. Financial regulation and financial system architecture in Central Europe

    NARCIS (Netherlands)

    Scholtens, B

    At the beginning of the transition, advice to Central European countries with respect to how to set up their financial systems was based on models used in western economies. This paper analyzes the experiences to set up a financial system in Central Europe. The experience in the first transition

  3. IMPROVING FINANCIAL INCLUSION: TOWARDS A CRITICAL FINANCIAL EDUCATION FRAMEWORK

    Directory of Open Access Journals (Sweden)

    Renê Birochi

    2016-05-01

    Full Text Available Empirical research suggests that financial inclusion initiatives – such as facilitating access to financial resources or providing microcredit – are alone not enough to lower socioeconomic disparities. In this article, we adopt a critical stance as a guide for our empirical investigation. Our aim is to propose a financial education framework, tailored to low-income micro-entrepreneurs, that embraces new information and communication technologies (ICTs and seeks to improve financial inclusion and social emancipation. This empirical study was conducted in an Amazonian municipality in Brazil where recent access to ICTs has brought about important and varied socioeconomic changes. Results show that ICT-supported and tailored critical financial education can play a dual role: on the one hand, access to financial education might decrease the effects of generative mechanisms on global/local tensions, triggered by standardized ICT applications; on the other hand, such access might increase financial inclusion and social transformation through the integration of guiding principles into financial education programs.

  4. Growing Up to Stability? Financial Globalization, Financial Development and Financial Crises

    OpenAIRE

    Bordo, Michael D.; Christopher M. Meissner

    2015-01-01

    Why did some countries learn to grow up to financial stability and others not? We explore this question by surveying the key determinants and major policy responses to banking, currency, and debt crises between 1880 and present. We divide countries into three groups: leaders, learners, and non-learners. Each of these groups had very different experiences in terms of long-run economic outcomes, financial development, financial stability, crisis frequency, and their policy responses to crises. ...

  5. Geography and distance effect on financial dynamics in the Chinese stock market

    OpenAIRE

    Li, Xing; Qiu, Tian; Chen, Guang; Zhong, Li-Xin; Jiang, Xiong-Fei

    2016-01-01

    Geography effect is investigated for the Chinese stock market including the Shanghai and Shenzhen stock markets, based on the daily data of individual stocks. The Shanghai city and the Guangdong province can be identified in the stock geographical sector. By investigating a geographical correlation on a geographical parameter, the stock location is found to have an impact on the financial dynamics, except for the financial crisis time of the Shenzhen market. Stock distance effect is further s...

  6. Financial Literacy and Financial Sophistication in the Older Population.

    Science.gov (United States)

    Lusardi, Annamaria; Mitchell, Olivia S; Curto, Vilsa

    2014-10-01

    Using a special-purpose module implemented in the Health and Retirement Study, we evaluate financial sophistication in the American population over the age of 50. We combine several financial literacy questions into an overall index to highlight which questions best capture financial sophistication and examine the sensitivity of financial literacy responses to framing effects. Results show that many older respondents are not financially sophisticated: they fail to grasp essential aspects of risk diversification, asset valuation, portfolio choice, and investment fees. Subgroups with notable deficits include women, the least educated, non-Whites, and those over age 75. In view of the fact that retirees increasingly must take on responsibility for their own retirement security, such meager levels of knowledge have potentially serious and negative implications.

  7. Financial Literacy and Financial Sophistication in the Older Population

    Science.gov (United States)

    Lusardi, Annamaria; Mitchell, Olivia S.; Curto, Vilsa

    2017-01-01

    Using a special-purpose module implemented in the Health and Retirement Study, we evaluate financial sophistication in the American population over the age of 50. We combine several financial literacy questions into an overall index to highlight which questions best capture financial sophistication and examine the sensitivity of financial literacy responses to framing effects. Results show that many older respondents are not financially sophisticated: they fail to grasp essential aspects of risk diversification, asset valuation, portfolio choice, and investment fees. Subgroups with notable deficits include women, the least educated, non-Whites, and those over age 75. In view of the fact that retirees increasingly must take on responsibility for their own retirement security, such meager levels of knowledge have potentially serious and negative implications. PMID:28553191

  8. Phosphorus balance with daily dialysis.

    Science.gov (United States)

    Kooienga, Laura

    2007-01-01

    Hyperphosphatemia is an almost universal finding in patients with end-stage renal disease and is associated with increased all-cause mortality, cardiovascular mortality, and vascular calcification. These associations have raised the question of whether reducing phosphorus levels could result in improved survival. In light of the recent findings that increased per-session dialysis dose, as assessed by urea kinetics, did not result in improved survival, the definition of adequacy of dialysis should be re-evaluated and consideration given to alternative markers. Two alternatives to conventional thrice weekly dialysis (CHD) are nocturnal hemodialysis (NHD) and short daily hemodialysis (SDHD). The elimination kinetics of phosphorus as they relate to these alternative daily dialysis schedules and the clinical implications of overall phosphorus balance are discussed here. The total weekly phosphorus removal with NHD is more than twice that removed by CHD (4985 mg/week +/- 1827 mg vs. 2347 mg/week +/- 697 mg) and this is associated with a significantly lower average serum phosphorous (4.0 mg/dl vs. 6.5 mg/dl). In spite of the observed increase in protein and phosphorus intake seen in patients on SDHD, phosphate binder requirements and serum phosphorus levels are generally stable to decrease although this effect is strongly dependent on the frequency and overall treatment time.

  9. Chronic Daily Headache - A Reappraisal

    Directory of Open Access Journals (Sweden)

    Chakravarty A

    2004-01-01

    Full Text Available Chronic Daily Headache (CDH generally refers to frequent headache occuring more than 15 days/month for over three months. Such headaches may be primary or secondary - the latter referring to headaches related to identifiable intra and extracranial vascular or other pathologies or systemic illnesses. The primary type may be subclassified as short and long lasting ones, depending upon whether the headache spells are more or less than four hours in duration. The present review would deal with the four major types of long lasting primary CDH which include Chronic migraine (CM, Chronic tension type headache (CTTH, New daily persistent headache (NDPH and Hemicrania continua (HC. The first part of the article would focus on the clinical pattern recognising features of these types. The relationship of medication overuse to CM would be critically evaluated. In the second part, the status of CDH in the recently proposed classification of headache disorders by the International Headache Society would be briefly evaluated. In the next section the clinical Profile or CDH in Indian patients would be highlighted based on available published data. Lastly, the pathophysiology of this vexing condition would be discussed specially in relation to CM and postulating on how it may evolve from episodic migraine.

  10. Will peak oil accelerate carbon dioxide emissions?

    Science.gov (United States)

    Caldeira, K.; Davis, S. J.; Cao, L.

    2008-12-01

    The relative scarcity of oil suggests that oil production is peaking and will decline thereafter. Some have suggested that this represents an opportunity to reduce carbon dioxide emissions. However, in the absence of constraints on carbon dioxide emission, "peak oil" may drive a shift towards increased reliance on coal as a primary energy source. Because coal per unit energy, in the absence of carbon capture and disposal, releases more carbon dioxide to the atmosphere than oil, "peak oil" may lead to an acceleration of carbon dioxide emissions. We will never run out of oil. As oil becomes increasingly scarce, prices will rise and therefore consumption will diminish. As prices rise, other primary energy sources will become increasingly competitive with oil. The developed world uses oil primarily as a source of transportation fuels. The developing world uses oil primarily for heat and power, but the trend is towards increasing reliance on oil for transportation. Liquid fuels, including petroleum derivatives such as gasoline and diesel fuel, are attractive as transportation fuels because of their relative abundance of energy per unit mass and volume. Such considerations are especially important for the air transport industry. Today, there is little that can compete with petroleum-derived transportation fuels. Future CO2 emissions from the transportation sector largely depend on what replaces oil as a source of fuel. Some have suggested that biomass-derived ethanol, hydrogen, or electricity could play this role. Each of these potential substitutes has its own drawbacks (e.g., low power density per unit area in the case of biomass, low power density per unit volume in the case of hydrogen, and low power density per unit mass in the case of battery storage). Thus, it is entirely likely that liquefaction of coal could become the primary means by which transportation fuels are produced. Since the burning of coal produces more CO2 per unit energy than does the burning of

  11. Entropy-based financial asset pricing.

    Directory of Open Access Journals (Sweden)

    Mihály Ormos

    Full Text Available We investigate entropy as a financial risk measure. Entropy explains the equity premium of securities and portfolios in a simpler way and, at the same time, with higher explanatory power than the beta parameter of the capital asset pricing model. For asset pricing we define the continuous entropy as an alternative measure of risk. Our results show that entropy decreases in the function of the number of securities involved in a portfolio in a similar way to the standard deviation, and that efficient portfolios are situated on a hyperbola in the expected return-entropy system. For empirical investigation we use daily returns of 150 randomly selected securities for a period of 27 years. Our regression results show that entropy has a higher explanatory power for the expected return than the capital asset pricing model beta. Furthermore we show the time varying behavior of the beta along with entropy.

  12. Financial Integration into EU: The Romanian Case

    Directory of Open Access Journals (Sweden)

    Ibrahim Bozkurt

    2016-05-01

    Full Text Available The aim of this study is to investigate the determinants of integration between stock market of Romania and other stock markets of European Union (EU countries. Correlations between the stock returns represent the level of integration between the stock markets. Empirical analysis are performed with daily stock returns of 24 EU members including Romania for 2002-2012 period using panel data gravity models and correlations are investigated. Findings reveal that the following factors have significant and robust effects on the financial integration process of Romania with other 23 EU members; (i EU membership, (ii bilateral trade, (iii GDP per capita, (iv 2012 sovereign debt crisis and (v East European location. The results emphasize that intensifying economic relations with EU members can contribute the integration of Romanian stock market with other EU members. designed & hoste

  13. Entropy-based financial asset pricing.

    Science.gov (United States)

    Ormos, Mihály; Zibriczky, Dávid

    2014-01-01

    We investigate entropy as a financial risk measure. Entropy explains the equity premium of securities and portfolios in a simpler way and, at the same time, with higher explanatory power than the beta parameter of the capital asset pricing model. For asset pricing we define the continuous entropy as an alternative measure of risk. Our results show that entropy decreases in the function of the number of securities involved in a portfolio in a similar way to the standard deviation, and that efficient portfolios are situated on a hyperbola in the expected return-entropy system. For empirical investigation we use daily returns of 150 randomly selected securities for a period of 27 years. Our regression results show that entropy has a higher explanatory power for the expected return than the capital asset pricing model beta. Furthermore we show the time varying behavior of the beta along with entropy.

  14. Effect of Rainfall on Traffic Stream Characteristics during Peak and Non-Peak Periods

    Directory of Open Access Journals (Sweden)

    Hashim Mohammed Alhassan

    2012-01-01

    Full Text Available This paper examined the effect of rainfall on traffic stream behaviour during  peak and non-peak periods on a basic highway section. Data on this section which is located on the J5 was collected for four months during which 99 rainfall events occurred. The traffic consisted of 75.80% cars, 10.23% motorcycles, 3.51% trucks and 10.46%  of other vehicles. Traffic was observed for both rain and no-rain conditions and the data was analysed to see the effect of the rain. The results showed decreases in the speed as the rain intensity increased. Similarly, the traffic flow rates decreased as the rain intensity increased. This trend was observed for both peak and non-peak periods and for both directions. It is concluded that the effect of rain during peak period could have more serious consequences on the traffic flow than during non-peak periods because of the higher flow rates and the constrained nature of the flow. Consequently, capacity degradations up to 30% during peak periods would require resources to be employed to manage the traffic.

  15. Once-daily dose regimen of ribavirin is interchangeable with a twice-daily dose regimen: randomized open clinical trial

    Directory of Open Access Journals (Sweden)

    Balk JM

    2015-08-01

    Full Text Available Jiska M Balk,1 Guido RMM Haenen,1 Özgür M Koc,2 Ron Peters,3 Aalt Bast,1 Wim JF van der Vijgh,1 Ger H Koek,4 1Department of Toxicology, NUTRIM School for Nutrition, Toxicology and Metabolism, Maastricht University Medical Centre, 2Faculty of Health, Medicine and Life Sciences, Maastricht University, Maastricht, 3DSM Resolve, Geleen, 4Department of Internal Medicine, Division of Gastroenterology and Hepatology, Maastricht University Medical Centre, Maastricht, the Netherlands Background: The combination of ribavirin (RBV and pegylated interferon (PEG-IFN is effective in the treatment of chronic hepatitis C infection. Reducing the frequency of RBV intake from twice to once a day will improve compliance and opens up the opportunity to combine RBV with new and more specific direct-acting agents in one pill. Therefore, the purpose of this study was to evaluate the pharmacokinetic profile of RBV in a once-daily to twice-daily regimen. The secondary aim was to determine tolerability as well as the severity and differences in side effects of both treatment regimens. Methods: In this randomized open-label crossover study, twelve patients with chronic type 1 hepatitis C infection and weighing more than 75 kg were treated with 180 µg of PEG-IFN weekly and 1,200 mg RBV daily for 24 weeks. The patients received RBV dosed as 1,200 mg once-daily for 12 weeks followed by RBV dosed as 600 mg twice-daily for 12 weeks, or vice versa. In addition to the pharmacokinetic profile, the hematological profile and side effects were recorded. The RBV concentrations in plasma were determined using liquid chromatography-tandem mass spectrometry. Results: Eight of twelve patients completed the study. Neither the time taken for RBV to reach peak plasma concentration nor the AUC0-last (adjusted for difference in dose was significantly different between the two groups (P>0.05. Furthermore, the once-daily regimen did not give more side effects than the twice-daily regimen (P>0

  16. Linking XBRL Financial Data

    Science.gov (United States)

    García, Roberto; Gil, Rosa

    One of the main ways of populating the Web of Data is by translating existing data sources. One interesting candidate for this approach is data based on the eXtensible Business Reporting Language (XBRL), a standard for business and financial reporting. Many institutions are making available or requiring data in this format, e.g. the U.S. Securities and Exchange Commission (SEC) through the EDGAR program. However, XBRL data is loosely interconnected and it is difficult to mix and query it. Our contribution is a translation from XBRL filings to Semantic Web technologies, which we have applied to more than 1000 filings obtaining more than 2 million triples. The resulting semantic data is easier to integrate and cross query. Moreover, it can be interconnected with the rest of the Web of Data in order to extract its full potential.

  17. Terrorism and financial supervision

    Directory of Open Access Journals (Sweden)

    Anatoli van der Krans

    2005-12-01

    Full Text Available This article presents an analysis of how legislators on international, European and national level combat the financing of terrorism. The central question in this article is whether European regulations concerning the prevention of money laundering and the financing of terrorism, are effective, proportional and mutually harmonious. Now that many regulations in this field have been established by intra-national bodies, it is important to examine how these regulations are further elaborated in the respective national systems. This article gives a broad overview of legislative initiatives of the UN, USA, FATF, EU and Council of Europe. The Netherlands for numerous reasons serves as a legal example. It is concluded that measures taken or proposed to avoid or at least reduce the financing of terrorism are quite effective to prevent abuse of the financial system. On the other hand, these measures increase the risk of underground or illegal financing, which is even more difficult to control.

  18. Financial market dynamics

    Science.gov (United States)

    Michael, Fredrick; Johnson, M. D.

    2003-03-01

    A necessary precondition for modeling financial markets is a complete understanding of their statistics, including dynamics. Distributions derived from nonextensive Tsallis statistics are closely connected with dynamics described by a nonlinear Fokker-Planck equation. The combination shows promise in describing stochastic processes with power-law distributions and superdiffusive dynamics. We investigate intra-day price changes in the S& P500 stock index within this framework. We find that the power-law tails of the distributions, and the index's anomalously diffusing dynamics, are very accurately described by this approach. Our results show good agreement between market data and Fokker-Planck dynamics. This approach may be applicable in any anomalously diffusing system in which the correlations in time can be accounted for by an Ito-Langevin process with a simple time-dependent diffusion coefficient.

  19. Terrorism and financial supervision

    Directory of Open Access Journals (Sweden)

    Anatoli van der Krans

    2005-12-01

    Full Text Available This article presents an analysis of how legislators on international, European and national level combat the financing of terrorism. The central question in this article is whether European regulations concerning the prevention of money laundering and the financing of terrorism, are effective, proportional and mutually harmonious. Now that many regulations in this field have been established by intra-national bodies, it is important to examine how these regulations are further elaborated in the respective national systems. This article gives a broad overview of legislative initiatives of the UN, USA, FATF, EU and Council of Europe. The Netherlands for numerous reasons serves as a legal example. It is concluded that measures taken or proposed to avoid or at least reduce the financing of terrorism are quite effective to prevent abuse of the financial system. On the other hand, these measures increase the risk of underground or illegal financing, which is even more difficult to control.

  20. Financial Knowledge and Best Practice Behavior

    Science.gov (United States)

    Robb, Cliff A.; Woodyard, Ann S.

    2011-01-01

    The current research examines the relationship between personal financial knowledge (both objective and subjective), financial satisfaction, and selected demographic variables in terms of best practice financial behavior. Data are taken from the Financial Industry Regulatory Authority's (FINRA) National Financial Capability Study, a nationally…

  1. Intent to Quit among Daily and Non-Daily College Student Smokers

    Science.gov (United States)

    Pinsker, E. A.; Berg, C. J.; Nehl, E. J.; Prokhorov, A. V.; Buchanan, T. S.; Ahluwalia, J. S.

    2013-01-01

    Given the high prevalence of young adult smoking, we examined (i) psychosocial factors and substance use among college students representing five smoking patterns and histories [non-smokers, quitters, native non-daily smokers (i.e. never daily smokers), converted non-daily smokers (i.e. former daily smokers) and daily smokers] and (ii) smoking…

  2. Investigating Contagion and Market Interdependence during the Global Financial Crisis

    Directory of Open Access Journals (Sweden)

    Filip Iorgulescu

    2015-06-01

    Full Text Available This paper examines the roles played by market interdependence and contagion in the propagation of the 2007-2009 global financial crisis. For this purpose, five aggregate indices were employed, representing all the major financial markets from each geographical region. The data series are daily and they cover the period between 2002 and 2014. The presence of contagion and market interdependence was assessed by means of the values and value changes of the correlation coefficients between the ante crisis (2002-2007, the crisis (2007-2009 and the post crisis (2009-2014 intervals, as well as with the aid of a spillover index. The results indicate a high degree of interdependence between the global financial markets even before the occurrence of the crisis. On the other hand, there is evidence that the crisis spread through contagion mainly from the developed financial markets of Europe and North America to the emerging centers in Africa and Latin America while the markets from the Asia/Pacific region displayed lower correlations which may have given opportunities for the mitigation of losses. Moreover, since the majority of the correlation coefficients have not decreased significantly after the 2007-2009 period, it seems that the crisis intensified the degree of global financial integration.

  3. Adjusting annual maximum peak discharges at selected stations in northeastern Illinois for changes in land-use conditions

    Science.gov (United States)

    Over, Thomas M.; Saito, Riki J.; Soong, David T.

    2016-06-30

    The effects of urbanization on annual maximum peak discharges in northeastern Illinois and nearby areas from 1945 to 2009 were analyzed with a two-step longitudinal-quantile linear regression approach. The peak discharges were then adjusted to 2010 land-use conditions. The explanatory variables used were daily precipitation at the time of the peak discharge event and a housing density-based measure of developed land use. The effect of the implementation of stormwater detention was assessed indirectly. Peak discharge records affected by the construction of large reservoirs that affect channel routing were identified and were split into segments at the time of completion of the reservoir. Longitudinal regressions of the peak discharge records on linear and logarithmic transformations of the selected measures of urbanization and precipitation were tested, and the best fitting model was selected for quantile regression and adjustment of the peak discharges.

  4. 75 FR 22680 - Financial Management Service; Proposed Collection of Information: Annual Financial Statement of...

    Science.gov (United States)

    2010-04-29

    ... Fiscal Service Financial Management Service; Proposed Collection of Information: Annual Financial Statement of Surety Companies--Schedule F AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice and Request for comments. SUMMARY: The Financial Management Service, as part of its...

  5. Greed and adolescent financial behavior

    NARCIS (Netherlands)

    Seuntjens, T.G.; van de Ven, Niels; Zeelenberg, M.; van der Schors, Anna

    2016-01-01

    Financial problems in adolescents have increased over the last decades. We investigated if individual differences in greed relate to financial behavior. Greed is an important motive for economic behavior and refers to the tendency to never be satisfied and to always want more. We developed a short v

  6. Financial Services and Emerging Markets

    NARCIS (Netherlands)

    B. Karreman (Bas)

    2011-01-01

    textabstractThis study addresses the organization and strategy of firms in emerging markets with an explicit application to financial services. Given the relevance of a well-functioning financial system for economic growth, understanding the organization and strategy of firms contributing to the dev

  7. Financial Planning with Fractional Goals

    OpenAIRE

    Goedhart, M.H.; Spronk, Jaap

    1995-01-01

    textabstractWhen solving financial planning problems with multiple goals by means of multiple objective programming, the presence of fractional goals leads to technical difficulties. In this paper we present a straightforward interactive approach for solving such linear fractional programs with multiple goal variables. The approach is illustrated by means of an example in financial planning.

  8. Stakeholder relations and financial performance

    NARCIS (Netherlands)

    Scholtens, B.; Zhou, Y.

    2008-01-01

    We analyze how shareholder performance can be associated with stakeholder relations. As such, we try to find out whether there is an association between financial performance and stakeholder relations with respect to different theoretical notions about the firm. Financial performance is operationali

  9. Teaching OOP with Financial Literacy

    Science.gov (United States)

    Zhu, Hongwei

    2011-01-01

    Students lose interest in learning programming when the materials are not related to their lives. A challenge facing most students is that they lack the financial literacy necessary to manage their debts. An approach is developed to integrate financial literacy into an object-oriented programming (OOP) course. The approach is effective in…

  10. Certification of Financial Aid Administrators

    Science.gov (United States)

    Peterson, Stacey A.

    2011-01-01

    The certification of financial aid administrators has been debated for over 37 years. A job satisfaction survey conducted by the National Association of Student Financial Aid Administrators (NASFAA, 2008a) revealed that college and university administrators' perceptions of the efficiency, effectiveness, and quality of the services provided by the…

  11. Financial Scandals and Student Loans

    Science.gov (United States)

    Eisenberg, Meyer; Franke, Ann H.

    2007-01-01

    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…

  12. Bulgaria Financial Sector Assessment Program

    OpenAIRE

    World Bank Group

    2017-01-01

    This technical note results from the Financial Sector Assessment (FSAP) conducted in the period 17 January 2017 and 1 February 2017. The note covers the activities of the Financial Supervision Commission (FSC), the state of the pension and insurance sectors and the challenges to their development. The exercise for insurance did not involve a full assessment against the Insurance Core Princ...

  13. Jordan Banks Financial Soundness Indicators

    Directory of Open Access Journals (Sweden)

    Imad Kutum

    2015-09-01

    Full Text Available The aim of this research paper is to examine the Jordanian banks using financial soundness indicators. This is to establish if Jordanian banks were affected because of the 2007/2008 financial crisis and determine the underlying reasons. The research paper was conducted on 25 banks in Jordan listed in the countries securities exchange. The research methodology used consisted of examining the banks financial records in order to derive four crucial Basel III ratio such as the capital adequacy ratio, the leverage ratio, the liquidity ratio and finally the Total Provisions (As % Of Non-Performing Loans %. The results revealed that out of the four hypotheses under examination Jordan Banks do not meet Basel financial Indicators for Capital Adequacy Ratio, Jordan Banks does not meet Basel financial Indicators for Liquidity Ratio , Jordan Banks do not meet Basel financial Indicators for Leverage Ratio and Jordan Banks do not meet Basel financial Indicators for Total Provisions (As % Of Non-Performing Loans ratio. Only one hypothesis was accepted based on the research outcomes. The rest of the hypothesis was rejected since the average trend line did not go below the Basel III required ratio level. The general outcome of the research revealed that Jordanian banks were not affected significantly by the financial crisis.

  14. Theories about the financial crises

    Directory of Open Access Journals (Sweden)

    Irina Busuioc-Witowschi

    2010-12-01

    Full Text Available The financial crises are generally associated with banking crises due to the role they play in their production, transmission and settlement. This paper presents a number of different approaches taken from the specialized literature on the causes that led to the outbreak of the financial crises.

  15. Financial repression and fiscal policy

    NARCIS (Netherlands)

    Gupta, KL; Lensink, R

    1997-01-01

    This paper develops a simulation model to assess the consequences of government's trying to raise revenues through financial repression in developing countries. The measures of financial repression studied are (1) government borrowing from the banking sector to finance its budget deficit (2) governm

  16. Stakeholder relations and financial performance

    NARCIS (Netherlands)

    Scholtens, B.; Zhou, Y.

    2008-01-01

    We analyze how shareholder performance can be associated with stakeholder relations. As such, we try to find out whether there is an association between financial performance and stakeholder relations with respect to different theoretical notions about the firm. Financial performance is

  17. Complexity theory and financial regulation

    NARCIS (Netherlands)

    Battiston, Stefano; Farmer, J.D.; Flache, Andreas; Garlaschelli, Diego; Haldane, Andrew G.; Heesterbeek, Hans; Hommes, Cars; Jaeger, Carlo; May, Robert; Scheffer, Marten

    2016-01-01

    Traditional economic theory could not explain, much less predict, the near collapse of the financial system and its long-lasting effects on the global economy. Since the 2008 crisis, there has been increasing interest in using ideas from complexity theory to make sense of economic and financial mark

  18. Quantifying meta-correlations in financial markets

    Science.gov (United States)

    Kenett, Dror Y.; Preis, Tobias; Gur-Gershgoren, Gitit; Ben-Jacob, Eshel

    2012-08-01

    Financial markets are modular multi-level systems, in which the relationships between the individual components are not constant in time. Sudden changes in these relationships significantly affect the stability of the entire system, and vice versa. Our analysis is based on historical daily closing prices of the 30 components of the Dow Jones Industrial Average (DJIA) from March 15th, 1939 until December 31st, 2010. We quantify the correlation among these components by determining Pearson correlation coefficients, to investigate whether mean correlation of the entire portfolio can be used as a precursor for changes in the index return. To this end, we quantify the meta-correlation - the correlation of mean correlation and index return. We find that changes in index returns are significantly correlated with changes in mean correlation. Furthermore, we study the relationship between the index return and correlation volatility - the standard deviation of correlations for a given time interval. This parameter provides further evidence of the effect of the index on market correlations and their fluctuations. Our empirical findings provide new information and quantification of the index leverage effect, and have implications to risk management, portfolio optimization, and to the increased stability of financial markets.

  19. PFReports: A Program for Systematic Checking of Annual Peaks in NWISWeb

    Science.gov (United States)

    Ryberg, Karen R.

    2008-01-01

    The accuracy, characterization, and completeness of the U.S. Geological Survey (USGS) peak-flow data drive the determination of flood-frequency estimates that are used daily to design water and transportation infrastructure, delineate flood-plain boundaries, and regulate development and utilization of lands throughout the Nation and are essential to understanding the implications of climate change on flooding. Indeed, this high-profile database reflects and highlights the quality of USGS water-data collection programs. Its extension and improvement are essential to efforts to strengthen USGS networks and science leadership and is worthy of the attention of Water Science Center (WSC) hydrographers. This document describes a computer program, PFReports, and its output that facilitates efficient and robust review and correction of data in the USGS Peak Flow File (PFF) hosted as part of NWISWeb (the USGS public Web interface to much of the data stored and managed within the National Water Information System or NWIS). Checks embedded in the program are recommended as part of a more comprehensive assessment of peak flow data that will eventually include examination of possible regional changes, seasonal changes, and decadal variations in magnitude, timing, and frequency. Just as important as the comprehensive assessment, cleaning up the database will increase the likelihood of improved WSC regional flood-frequency equations. As an example of the value of cleaning up the PFF, data for 26,921 sites in the PFF were obtained. Of those sites, 17,542 sites had peak streamflow values and daily values. For the 17,542 sites, 1,097 peaks were identified that were less than the daily value for the day on which the peak occurred. Of the 26,921 sites, 11,643 had peak streamflow values, concurrent daily values, and at least 10 peaks. At the 11,643 sites, 2,205 peaks were identified as potential outliers in a regression of peak streamflows on daily values. Previous efforts to identify

  20. Macroeconomic aspects of financial liberalization

    Directory of Open Access Journals (Sweden)

    Mirdala Rajmund

    2006-01-01

    Full Text Available The positive and the negative macroeconomic aspects of the financial liberalization for the developing and emerging economies are well described in the present literature. But it is not easy to clearly summarize the final effects of the financial integration on the certain country. For instance the argument about the growth benefits of the capital account liberalization is likely to be inadequate considering the financial crises in the emerging markets at the end of the last century. On the other hand, many authors (especially in the financial literature report that the equity market liberalizations help to significantly boost the economic growth. There are also some examples on the microeconomic level (firm level or industry level when the international financial integration brings certain benefits to the integrated enterprises and the capital flows restriction leads to the distortionary effects. In the paper we analyze the macroeconomic effects of the capital flows liberalization.

  1. Financial fragility and global dynamics

    Energy Technology Data Exchange (ETDEWEB)

    Dieci, Roberto [Dipartimento di Matematica per le Scienze Economiche e Sociali, University of Bologna, Viale Filopanti 5, I-40126 Bologna (Italy); Sordi, Serena [Dipartimento di Economia Politica, University of Siena, Piazza San Francesco 7, I-53100 Siena (Italy)]. E-mail: sordi@unisi.it; Vercelli, Alessandro [Dipartimento di Economia Politica, University of Siena, Piazza San Francesco 7, I-53100 Siena (Italy)

    2006-08-15

    This paper deals with a simple model of financial fluctuations, where a crucial role is played by the dynamic interaction between aggregate current and intertemporal financial ratios. The model results in a 4D discrete-time dynamical system-capable of generating complex dynamics-which is analyzed by means of both analytical tools, such as local stability analysis and bifurcation theory, and numerical simulations. The behavior of the model is studied for different parameter regimes. We show that its dynamic behavior is very sensitive to the parameters that represent (1) the speed of adjustment of the desired current financial ratio towards a safe level of the intertemporal one and (2) the intensity with which aggregate current financial decisions affect future financial constraints. In particular, different parameter regimes are identified, giving rise to two different 'routes' to complexity, one leading to chaotic dynamics, the other to a coexistence of attractors and path-dependence.

  2. Spreadsheets and the Financial Collapse

    CERN Document Server

    Croll, Grenville J

    2009-01-01

    We briefly review the well-known risks, weaknesses and limitations of spreadsheets and then introduce some more. We review and slightly extend our previous work on the importance and criticality of spreadsheets in the City of London, introducing the notions of ubiquity, centrality, legality and contagion. We identify the sector of the financial market that we believed in 2005 to be highly dependant on the use of spreadsheets and relate this to its recent catastrophic financial performance. We outline the role of spreadsheets in the collapse of the Jamaican banking system in the late 1990's and then review the UK financial regulator's knowledge of the risks of spreadsheets in the contemporary financial system. We summarise the available evidence and suggest that there is a link between the use of spreadsheets and the recent collapse of the global financial system. We provide governments and regulating authorities with some simple recommendations to reduce the risks of continued overdependence on unreliable spr...

  3. FINANCIAL RENT, DEBT AND CRISIS

    Directory of Open Access Journals (Sweden)

    Atilla Ahmet UĞUR

    2011-12-01

    Full Text Available Financial crises have some common features even if they come into being in different areas and countries with different income level. Especially due to the financial liberalization and entegration of world economies, they affect many countries with a domino effect. Internationalization of capital stregthens particularly financial markets in developed countries and leads to speculative opportunities and possibilities of very high profit rates. Ambition for higher profit, from time to time, gives rise to fictitious structures, eliminating rational market behaviors. Problems of higher indebtedness and current account deficit in large economies such as the US lead to speculative bubles supported by financial derivatives, making nonproductive short term portfolio investments profitable. Before crisis, it is observed that this type of financial structures become common and real estate prices rise. And following crisis it is observed that public finance discipline deteriorate.

  4. From Finance Capitalism to Financialization

    DEFF Research Database (Denmark)

    Hansen, Per H.

    2014-01-01

    In this article I interpret 150 years of financial history with a focus on shifts in the role of finance in society. I argue that over time the role of finance has shifted twice from that of servant to that of master of society, and that this process has been driven by sense making through narrat...... narratives that legitimized and shaped these changes. When finance became a master rent seeking, cultural capture and out-of control financial innovation resulted in financial and social instability. Finance as a master was the characteristic of finance capitalism from around 1900......–1931 and of financialization from around 1980 to today. Finance capitalism and financialization were enabled by a dominant narrative that legitimized the power of finance. The shifts in the role of finance happened when crises undermined the meaning of the existing narrative and created for a new narrative able to make sense...

  5. Decreased peak expiratory flow in pediatric passive smokers

    Directory of Open Access Journals (Sweden)

    Fitri Yanti

    2011-08-01

    Full Text Available Background Indonesia ranks fifth among countries with the highest aggregate levels of tobacco consumption in the world. Infants and children exposed to environmental tobacco smoke have increased rates of asthma, respiratory and ear infections, as well as reduced lung function. The effects of tobacco smoke exposure on lung function in children have been reported to be dependent on the source of smoke and the length and dose of exposure. Lung function may also be affected by a child’s gender and asthma status. Objective To compare peak expiratory flow (PEF in pediatric passive smokers to that of children not exposed to second hand smoke, and to define factors that may affect PEF in passive smokers. Methods In August 2009 we conducted a cross-sectional study at an elementary school in the Langkat district. Subjects were aged 6 to 12 years, and divided into two groups: passive smokers and those not exposed to secondhand smoke. Subjects’ PEFs were measured with a Mini-Wright peak flow meter. Measurements were performed in triplicate with the highest value recorded as the PEF. Demographic data including age, sex, weight, height, family income, parental education levels and occupations were obtained through questionnaires. Results Of the 170 participants, 100 were passive smokers and 70 were not exposed to secondhand smoke. Age distribution, weight and height were similar in both groups. We observed a significant difference in PEFs between the group of passive smokers and the group not exposed to secondhand smoke, 211.3 L/minute (SD 61.08 and 242.7 L/minute (SD 77.09, respectively (P < 0.005. The number of years of exposure to smoke (P = 0.079 and the number of cigarettes smoked daily in the household (P = 0.098 did not significantly influence PEF. Conclusion The PEF in pediatric passive smokers was significantly lower than that of children not exposed to secondhand smoke. PEF in passive smokers was not influenced by the number of years of smoke

  6. Managing Hypertriglyceridemia in Daily Practice

    Directory of Open Access Journals (Sweden)

    Laurentius A Pramono

    2015-07-01

    Full Text Available Hypertriglyceridemia is a form of dyslipidemia, which usually occurs in combination with hypercholesterolemia, high-LDL or low-HDL cholesterol level. Most studies suggest that hypertriglyceridemia is associated with many metabolic disorders such as metabolic syndrome, diabetes, obesity, and also cardio-cerebrovascular diseases. Treatment of  hypertriglyceridemia is often not comprehensively addressed by many physicians, who usually only include prescribing drugs without encouraging patients to perform physical activity, to take a true healthy diet for dyslipidemia and to stop smoking. This review article discusses evaluation, diagnosis and a comprehensive, yet simple management of hypertriglyceridemia, which can be easily pplied in daily clinical practice. Key words: hypertriglyceridemia, dyslipidemia, management, clinical guidelines.

  7. Recreating Daily life in Pompeii

    Directory of Open Access Journals (Sweden)

    Nadia Magnenat-Thalmann

    2010-05-01

    Full Text Available We propose an integrated Mixed Reality methodology for recreating ancient daily life that features realistic simulations of animated virtual human actors (clothes, body, skin, face who augment real environments and re-enact staged storytelling dramas. We aim to go further from traditional concepts of static cultural artifacts or rigid geometrical and 2D textual augmentations and allow for 3D, interactive, augmented historical character-based event representations in a mobile and wearable setup. This is the main contribution of the described work as well as the proposed extensions to AR Enabling technologies: a VR/AR character simulation kernel framework with real-time, clothed virtual humans that are dynamically superimposed on live camera input, animated and acting based on a predefined, historically correct scenario. We demonstrate such a real-time case study on the actual site of ancient Pompeii.

  8. Daily Occupations among asylum seekers

    DEFF Research Database (Denmark)

    Morville, Anne-Le

    2014-01-01

    which might even influence their identity. Such deprivation can eventually lead to dissatisfaction with everyday life and to occupational dysfunction, i.e. a decline in ADL ability. Asylum seekers are a group who are more likely to suffer from health problems than the background population. Especially...... occupations on three levels – the experience of occupational deprivation, satisfaction with daily occupations and performance of ADL tasks – and whether occupational satisfaction and performance changed over a ten-month period. As there are often torture survivors among asylum seekers, another aim...... was to assess whether torture had an influence on the occupational satisfaction and performance, and whether this had changed after ten-months. Forty-three asylum seekers from Afghanistan, Iran and Syria participated at baseline and ten months later 17 were available for inclusion in follow-up studies. Study I...

  9. Electromechanical Peak Devices of Distributed Power Generation

    Directory of Open Access Journals (Sweden)

    S. V. Konstantinova

    2011-01-01

    Full Text Available The power world crises (1973, 1979 have demonstrated that mankind entered the expensive energy epoch. More and more attitude is given to power saving problem by including renewable power sources in energy balance of the countries. The paper analyzes a power system inBelarusand a typical chart of the active load is cited in the paper. Equalization of load chart is considered as one of measures directed on provision of higher operational efficiency of power system and power saving.  This purpose can be obtained while including electromechanical peak devices of the distributed generation in the energy balance.

  10. LARAMIE PEAK WILDERNESS STUDY AREA, WYOMING.

    Science.gov (United States)

    Segerstrom, Kenneth; Weisner, R.C.

    1984-01-01

    On the basis of a mineral survey, most of the Laramie Peak Wilderness study area in Wyoming was concluded to have little promise for the occurrence of mineral or energy resources. Only three small areas in the northern part, one extending outside the study area to Esterbrook, were found to have probable mineral-resource potential for copper and lead. The geologic setting precludes the presence of fossil-fuel resources in the study area. There are no surface indications that geothermal energy could be developed within or near the study area.

  11. Forecasting peaks of seasonal influenza epidemics.

    Science.gov (United States)

    Nsoesie, Elaine; Mararthe, Madhav; Brownstein, John

    2013-06-21

    We present a framework for near real-time forecast of influenza epidemics using a simulation optimization approach. The method combines an individual-based model and a simple root finding optimization method for parameter estimation and forecasting. In this study, retrospective forecasts were generated for seasonal influenza epidemics using web-based estimates of influenza activity from Google Flu Trends for 2004-2005, 2007-2008 and 2012-2013 flu seasons. In some cases, the peak could be forecasted 5-6 weeks ahead. This study adds to existing resources for influenza forecasting and the proposed method can be used in conjunction with other approaches in an ensemble framework.

  12. Peak oil, economic growth, and wildlife conservation

    CERN Document Server

    Gates, J Edward; Czech, Brian

    2014-01-01

    The proposed book focuses on one of the most important issues affecting humankind in this century - Peak Oil or the declining availability of abundant, cheap energy-and its effects on our industrialized economy and wildlife conservation. Energy will be one of the defining issues of the 21st Century directly affecting wildlife conservation wherever energy extraction is a primary economic activity and indirectly through deepening economic recessions. Since cheap, abundant energy has been at the core of our industrial society, and has resulted in the technological advancements we enjoy today, the

  13. Particle creation by peak electric field

    CERN Document Server

    Adorno, T C; Gitman, D M

    2016-01-01

    The particle creation by the so-called peak electric field is considered. The latter field is a combination of two exponential parts, one exponentially-increasing and another exponentially-decreasing. We find exact solutions of the Dirac equation with the field under consideration with appropriate asymptotic conditions and calculate all the characteristics of particle creation effect, in particular, differential mean numbers of created particle, total number of created particles, and the probability for a vacuum to remain a vacuum. Characteristic asymptotic regimes are discussed in detail and a comparison with the pure asymptotically decaying field is considered.

  14. Particle creation by peak electric field

    Energy Technology Data Exchange (ETDEWEB)

    Adorno, T.C. [Tomsk State University, Department of Physics, Tomsk (Russian Federation); Gavrilov, S.P. [Tomsk State University, Department of Physics, Tomsk (Russian Federation); Herzen State Pedagogical University of Russia, Department of General and Experimental Physics, St. Petersburg (Russian Federation); Gitman, D.M. [Tomsk State University, Department of Physics, Tomsk (Russian Federation); P. N. Lebedev Physical Institute, Moscow (Russian Federation); University of Sao Paulo, Institute of Physics, CP 66318, Sao Paulo, SP (Brazil)

    2016-08-15

    The particle creation by the so-called peak electric field is considered. The latter field is a combination of two exponential parts, one exponentially increasing and another exponentially decreasing. We find exact solutions of the Dirac equation with the field under consideration with appropriate asymptotic conditions and calculate all the characteristics of particle creation effect, in particular, differential mean numbers of created particle, total number of created particles, and the probability for a vacuum to remain a vacuum. Characteristic asymptotic regimes are discussed in detail and a comparison with the pure asymptotically decaying field is considered. (orig.)

  15. Financial globalisation and economic sovereignty

    Directory of Open Access Journals (Sweden)

    Čaušević Fikret

    2004-01-01

    Full Text Available A number of very significant changes took place in the international financial system at the beginning of the 1970s, as a result of changes in the relations of economic power between the most developed countries in the world. A number of new financial instruments appeared in response to the new conditions on the international currency and financial markets, with far-reaching implications for the efficiency of national economic policy, in particular on the three main segments - monetary, fiscal, and exchange rate policy. The process of financial liberalization began in the late sixties and early seventies and became a dominant characteristic of the final two decades of last century. The essence of financial liberalization is the elimination of the state’s influence on the extension of credit, interest rates, bank-ownership, and the free movement of international capital. In the process of financial liberalization, countries with developed market structures and powerful financial institutions were at a great advantage over countries whose financial sector was poorly or under-developed. As a result of their very different starting positions, the process of financial liberalization during the last two decades led to a doubling of the gap between the richest and the poorest countries. Two decades ago, the richest five countries in the world were 128 times richer than the five poorest countries. During those two decades, this became 249 times richer. A change in business philosophy and the mission and goals of companies could well have a progressive, development impact, with a view to reducing the wealth gap, particularly in regions and countries sidelined as regards development until now. Nevertheless, international economic and financial groups and institutional capacity-building in national governments, including the ability to carry out an efficient macroeconomic policy, will continue to have a vital role to play in stimulating development and

  16. Development and Creation of Competitive Advantages in the Function of Marketing Services in Financial Institutions

    Directory of Open Access Journals (Sweden)

    Fatos UKAJ

    2016-09-01

    Full Text Available The marketing of the financial services by financial institution is regarded as an easier job. This is due to the fact that, in most cases, when a client is gained, he/she remains loyal to the institution on a long term. Nowadays, taking into consideration the needs of the consumers - clients who are undergoing a constant change - financial institutions are faced with a necessity to have the required knowledge and information regarding what and how to meet the needs of their clients. Financial institutions have reached a stage of adapting their daily activities with the demands of their clients. Thus, this is due to the available information which deals with the needs of the clients, opportunities of financial institution themselves, structural changes in the services provided, and the changes in the market which includes competition. This paper will strive to present the stages of the marketing development in financial institutions through the acquisition of knowledge regarding the finances and marketing of these services. It also involves the current concept and approach towards marketing by financial institutions in Kosovo. Adopting new approaches would satisfy the client and would strengthen the position of financial institution. In addition, through this analysis, we will try to show the importance of including the concept of marketing in the operations and strategies of financial institutions for a successful business.

  17. Daily feeding rhythm in proboscis monkeys: a preliminary comparison with other non-human primates.

    Science.gov (United States)

    Matsuda, Ikki; Akiyama, Yoshihiro; Tuuga, Augustine; Bernard, Henry; Clauss, Marcus

    2014-04-01

    In non-human primates, the daily feeding rhythm, i.e., temporal fluctuation in feeding activity across the day, has been described but has rarely received much analytical interpretation, though it may play a crucial part in understanding the adaptive significance of primate foraging strategies. This study is the first to describe the detailed daily feeding rhythm in proboscis monkeys (Nasalis larvatus) based on data collected from both riverbank and inland habitats. From May 2005 to May 2006, data on feeding behavior in a group of proboscis monkeys consisting of an alpha-male, six adult females and immatures was collected via continuous focal animal sampling technique in a forest along the Menanggul River, Sabah, Malaysia. In both the male and females, the highest peak of feeding activity was in the late afternoon at 15:00-17:00, i.e., shortly before sleeping. The differences in the feeding rhythm among the seasons appeared to reflect the time spent eating fruit and/or the availability of fruit; clearer feeding peaks were detected when the monkeys spent a relevant amount of time eating fruit, but no clear peak was detected when fruit eating was less frequent. The daily feeding rhythm was not strongly influenced by daily temperature fluctuations. When comparing the daily feeding rhythm of proboscis monkeys to that of other primates, one of the most common temporal patterns detected across primates was a feeding peak in the late afternoon, although it was impossible to demonstrate this statistically because of methodological differences among studies.

  18. Accelerometer-measured daily physical activity related to aerobic fitness in children and adolescents

    DEFF Research Database (Denmark)

    Dencker, Magnus; Andersen, Lars Bo

    2011-01-01

    Maximum oxygen uptake ([Vdot]O(2PEAK)) is generally considered to be the best single marker for aerobic fitness. While a positive relationship between daily physical activity and aerobic fitness has been established in adults, the relationship appears less clear in children and adolescents...... if they included measurement of daily physical activity by accelerometry and related to a [Vdot]O(2PEAK) either measured directly at a maximal exercise test or estimated from maximal power output. A total of nine studies were identified, with a total number of 6116 children and adolescents investigated. Most...

  19. Beyond the Peak - Tactile Temporal Discrimination Does Not Correlate with Individual Peak Frequencies in Somatosensory Cortex.

    Science.gov (United States)

    Baumgarten, Thomas J; Schnitzler, Alfons; Lange, Joachim

    2017-01-01

    The human sensory systems constantly receive input from different stimuli. Whether these stimuli are integrated into a coherent percept or segregated and perceived as separate events, is critically determined by the temporal distance of the stimuli. This temporal distance has prompted the concept of temporal integration windows or perceptual cycles. Although this concept has gained considerable support, the neuronal correlates are still discussed. Studies suggested that neuronal oscillations might provide a neuronal basis for such perceptual cycles, i.e., the cycle lengths of alpha oscillations in visual cortex and beta oscillations in somatosensory cortex might determine the length of perceptual cycles. Specifically, recent studies reported that the peak frequency (the frequency with the highest spectral power) of alpha oscillations in visual cortex correlates with subjects' ability to discriminate two visual stimuli. In the present study, we investigated whether peak frequencies in somatosensory cortex might serve as the correlate of perceptual cycles in tactile discrimination. Despite several different approaches, we were unable to find a significant correlation between individual peak frequencies in the alpha- and beta-band and individual discrimination abilities. In addition, analysis of Bayes factor provided evidence that peak frequencies and discrimination thresholds are unrelated. The results suggest that perceptual cycles in the somatosensory domain are not necessarily to be found in the peak frequency, but in other frequencies. We argue that studies based solely on analysis of peak frequencies might thus miss relevant information.

  20. PeakVizor: Visual Analytics of Peaks in Video Clickstreams from Massive Open Online Courses.

    Science.gov (United States)

    Chen, Qing; Chen, Yuanzhe; Liu, Dongyu; Shi, Conglei; Wu, Yingcai; Qu, Huamin

    2016-10-01

    Massive open online courses (MOOCs) aim to facilitate open-access and massive-participation education. These courses have attracted millions of learners recently. At present, most MOOC platforms record the web log data of learner interactions with course videos. Such large amounts of multivariate data pose a new challenge in terms of analyzing online learning behaviors. Previous studies have mainly focused on the aggregate behaviors of learners from a summative view; however, few attempts have been made to conduct a detailed analysis of such behaviors. To determine complex learning patterns in MOOC video interactions, this paper introduces a comprehensive visualization system called PeakVizor. This system enables course instructors and education experts to analyze the "peaks" or the video segments that generate numerous clickstreams. The system features three views at different levels: the overview with glyphs to display valuable statistics regarding the peaks detected; the flow view to present spatio-temporal information regarding the peaks; and the correlation view to show the correlation between different learner groups and the peaks. Case studies and interviews conducted with domain experts have demonstrated the usefulness and effectiveness of PeakVizor, and new findings about learning behaviors in MOOC platforms have been reported.

  1. Daily Medicine Record for Your Child

    Science.gov (United States)

    ... the-Counter Pain Relievers and Fever Reducers Daily Medicine Record for Your Child (English) Share Tweet Linkedin ... Age: ____ 2 years old___ Weight: ___ 30 pounds ___ Daily Medicine Record Child’s name: ___________________ Today’s date: _________________ Age: ____________ Weight: ________________ (pounds) ...

  2. CDC WONDER: Daily Fine Particulate Matter

    Data.gov (United States)

    U.S. Department of Health & Human Services — The Daily Fine Particulate Matter data available on CDC WONDER are geographically aggregated daily measures of fine particulate matter in the outdoor air, spanning...

  3. Global Daily Climatology Network: Kazakhstan subset

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — This dataset is a compilation of in situ daily meteorological observations for Kazakhstan within the framework of joint efforts to create Global Daily Climatology...

  4. CDC WONDER: Daily Fine Particulate Matter

    Data.gov (United States)

    U.S. Department of Health & Human Services — The Daily Fine Particulate Matter data available on CDC WONDER are geographically aggregated daily measures of fine particulate matter in the outdoor air, spanning...

  5. Daily Market News Sentiment and Stock Prices

    NARCIS (Netherlands)

    D.E. Allen (David); M.J. McAleer (Michael); A.K. Singh (Abhay)

    2015-01-01

    textabstractIn recent years there has been a tremendous growth in the influx of news related to traded assets in international financial markets. This financial news is now available via print media but also through real-time online sources such as internet news and social media sources. The increas

  6. FINANCIAL REPORTING IN PUBLIC INSTITUTIONS AND NON-FINANCIAL ENTITIES. SIMILARITIES AND DIFFERENCES

    OpenAIRE

    Daniela Vitan

    2011-01-01

    The present paperwork contains issues regarding financial reporting at the public institutions and non – financial entities. The main aspects are regarding the obligation of all entities to present the financial statements, the content of financial statements in public institutions and non-financial entities. Also, is presented the similarities and the differences aspects between financial reporting of these two patrimonial entities.

  7. FINANCIAL REPORTING IN PUBLIC INSTITUTIONS AND NON-FINANCIAL ENTITIES. SIMILARITIES AND DIFFERENCES

    OpenAIRE

    Daniela Vitan

    2011-01-01

    The present paperwork contains issues regarding financial reporting at the public institutions and non – financial entities. The main aspects are regarding the obligation of all entities to present the financial statements, the content of financial statements in public institutions and non-financial entities. Also, is presented the similarities and the differences aspects between financial reporting of these two patrimonial entities.

  8. 39 CFR 233.5 - Requesting financial records from a financial institution.

    Science.gov (United States)

    2010-07-01

    ... INSPECTION SERVICE AUTHORITY § 233.5 Requesting financial records from a financial institution. (a... Department of the U.S. Postal Service to request financial records from a financial institution pursuant to... authorized to request financial records of any customer from a financial institution pursuant to a formal...

  9. Accelerometer-measured daily physical activity related to aerobic fitness in children and adolescents.

    Science.gov (United States)

    Dencker, Magnus; Andersen, Lars B

    2011-06-01

    Maximum oxygen uptake (VO(2PEAK)) is generally considered to be the best single marker for aerobic fitness. While a positive relationship between daily physical activity and aerobic fitness has been established in adults, the relationship appears less clear in children and adolescents. The purpose of this paper is to summarise recently published data on the relationship between daily physical activity, as measured by accelerometers, and VO(2PEAK) in children and adolescents. A PubMed search was performed on 29 October 2010 to identify relevant articles. Studies were considered relevant if they included measurement of daily physical activity by accelerometry and related to a VO(2PEAK) either measured directly at a maximal exercise test or estimated from maximal power output. A total of nine studies were identified, with a total number of 6116 children and adolescents investigated. Most studies reported a low-to-moderate relationship (r = 0.10-0.45) between objectively measured daily physical activity and VO(2PEAK). No conclusive evidence exists that physical activity of higher intensities are more closely related to VO(2PEAK), than lower intensities.

  10. MODELING OF ACCOUNTING ASPECTS OF FINANCIAL RESULTS

    Directory of Open Access Journals (Sweden)

    Hrayr HANISYAN

    2014-06-01

    Full Text Available Modern trends in world economy require expanding functional informational capabilities of financial statements. Market-oriented users of financial statements are interested in information necessary when making decisions of financial character.

  11. Subjects of Financial Planning at an Enterprise

    OpenAIRE

    Оверчук, Алла Василівна

    2016-01-01

    Subjects of financial planning have been considered, users of financial planned information have been determined as well as the analysis of information support of financial planning at an enterprise has been carried out.

  12. internet financial reporting by commercial banks

    African Journals Online (AJOL)

    NESG PUBLICATIONS

    have financial information posted on ... The Distribution of Different Types of Online Financial Information by IFR Firms in Hong Kong. ... with 57 providing detailed accounting .... The Journal of Financial Information System, 16 (3) 158 – 193.

  13. MODELING OF ACCOUNTING ASPECTS OF FINANCIAL RESULTS

    OpenAIRE

    Hrayr HANISYAN; Hasmik HANISYAN

    2014-01-01

    Modern trends in world economy require expanding functional informational capabilities of financial statements. Market-oriented users of financial statements are interested in information necessary when making decisions of financial character.

  14. Students win national financial planning contest

    OpenAIRE

    Sutphin, Michael D.

    2007-01-01

    Three Virginia Tech students studying financial planning have won the 2007 Ameriprise Financial Planning Invitational, bringing home $10,000 in scholarship money to support the financial planning program in the College of Agriculture and Life Sciences.

  15. Integrating physical and financial approaches to manage environmental financial risk

    Science.gov (United States)

    Characklis, Gregory; Meyer, Eliot; Foster, Benjamin

    2017-04-01

    Physical and/or engineered solutions have long been used to manage risks associated with adverse environmental events. Examples include reservoirs as a tool for mitigating drought-related supply risk, levees for managing flood risk and dredging of inland waterways to ensure navigability during low flow periods. These measures can reduce many types of risk (e.g., loss of life), but are often employed as a means of protecting against financial losses. When the focus is on managing environmental financial risk, physical solutions can be effective, but also costly. In many cases, non-physical tools can provide a less expensive means of managing financial risk, with these often taking the form of financial instruments such as hedging contracts, contingency funds or insurance. Some of these instruments, such as flood insurance, are widely available, but historically many environmental financial risks have been managed primarily (or solely) via physical solutions without much consideration of alternatives, thereby opening opportunities for innovation in developing financial solutions. Recent research has demonstrated that financial instruments can play a significant role in managing drought-related financial risk in sectors as diverse as water utilities, energy generation and inland navigation. Nonetheless, this work has largely considered the use of these instruments within systems in which physical solutions are already in place (but failing to achieve desired performance). The next step in the evolution of managing environmental financial risk involves developing methods for designing risk management strategies that do not assume an established physical system. Here the goal is to identify the relative role that physical solutions and financial instruments should play as they are integrated into a comprehensive risk management strategy. This is not a straightforward challenge as one approach reduces the risk of financial losses and the other redistributes those losses

  16. Peak heart rates at extreme altitudes

    DEFF Research Database (Denmark)

    Lundby, C; Van Hall, Gerrit

    2001-01-01

    We have measured maximal heart rate during a graded maximal bicycle exercise test to exhaustion in five healthy climbers before and during an expedition to Mt. Everest. Maximal heart rates at sea level were 186 (177-204) beats/min(-1) at sea level and 170 (169-182) beats/min(-1) with acute hypoxia....... After 1, 4 and 6 weeks of acclimatization to 5400 m, maximal heart rates were 155 (135-182), 158 (144-182), and 155 (140-183) beats/min(-1), respectively. Heart rates of two of the climbers were measured during their attempt to reach the summit of Mt. Everest without the use of supplemental oxygen....... The peak heart rates at 8,750 m for the two climbers were 142 and 144 beats/min(-1), which were similar to their maximal heart rates during exhaustive bicycle exercise at 5,400 m, the values being 144 and 148 beats/min(-1), respectively. The peak heart rates at 8,750 m are in agreement with other field...

  17. Equivalence Principle and the Baryon Acoustic Peak

    CERN Document Server

    Baldauf, Tobias; Simonović, Marko; Zaldarriaga, Matias

    2015-01-01

    We study the dominant effect of a long wavelength density perturbation $\\delta(\\lambda_L)$ on short distance physics. In the non-relativistic limit, the result is a uniform acceleration, fixed by the equivalence principle, and typically has no effect on statistical averages due to translational invariance. This same reasoning has been formalized to obtain a "consistency condition" on the cosmological correlation functions. In the presence of a feature, such as the acoustic peak at $l_{\\rm BAO}$, this naive expectation breaks down for $\\lambda_Lpeak, and is calculable to all orders in the long modes. This can be used to improve the result of perturbative calculations - a technique known as "infra-red resummation"- and is explicitly applied to the one-loop calculation of power spectrum. Finally, the success of BAO reconstruction schemes is argue...

  18. Microwave peak absorption frequency of liquid

    Institute of Scientific and Technical Information of China (English)

    2008-01-01

    Microwave-assisted extraction is a new effective method which has practical ap-plications in many fields. Microwave heating is one of its physical mechanisms,and it also has the characteristic of selectivity. When the applied microwave fre-quency equals a certain absorption frequency of the material (or specific compo-nent),the material will intensively absorb microwave energy. This is also known as resonant absorption,and the frequency is called the peak absorption frequency which depends on the physical structure of the material. In this work,dynamic hy-drogen bond energy was included in molecular activation energy; with the liquid cell model,the expression of interaction energy between dipolar molecules was derived. The rotational relaxation time was gotten from the Eyring viscosity formula. Then based on the relationship between dielectric dissipation coefficient and re-laxation time,the expression of microwave peak absorption frequency as a func-tion of the material physical structure,rotational inertia and electrical dipole mo-ment of molecules was established. These theoretical formulas were applied to water and benzene,and the calculated results agree fairly well with the experi-mental data. This work can not only deepen the study of the interaction between microwave and material,but also provide a possible guide for the experiment of microwave-assisted extraction.

  19. Microwave peak absorption frequency of liquid

    Institute of Scientific and Technical Information of China (English)

    HAN GuangZe; CHEN MingDong

    2008-01-01

    Microwave-assisted extraction is a new effective method which has practical ap-plications in many fields. Microwave heating is one of its physical mechanisms, and it also has the characteristic of selectivity. When the applied microwave fre-quency equals a certain absorption frequency of the material (or specific compo-nent), the material will intensively absorb microwave energy. This is also known as resonant absorption, and the frequency is called the peak absorption frequency which depends on the physical structure of the material. In this work, dynamic hy-drogen bond energy was included in molecular activation energy; with the liquid cell model, the expression of interaction energy between dipolar molecules was derived. The rotational relaxation time was gotten from the Eyring viscosity formula. Then based on the relationship between dielectric dissipation coefficient and re-laxation time, the expression of microwave peak absorption frequency as a func-tion of the material physical structure, rotational inertia and electrical dipole mo-ment of molecules was established. These theoretical formulas were applied to water and benzene, and the calculated results agree fairly well with the experi-mental data. This work can not only deepen the study of the interaction between microwave and material, but also provide a possible guide for the experiment of microwave-assisted extraction.

  20. Long Term Analysis of Ozone Night Peaks in the Portuguese Air Quality Station Network

    Science.gov (United States)

    Castanheira, J. M.; Parracho, A. C.; Barros, N.; Fontes, T.; Silva, M. P.; Ramos, A. M. M.; Carvalho, A. C.

    2014-12-01

    The gross pattern of the ozone daily cycle in urban areas is similar to that of rural areas, which shows a unimodal variation. However, urban areas can evidence a secondary peak in ozone concentrations during the nighttime, thus presenting a bimodal variation in the daily cycle. Although the occurrence of nocturnal maxima (peaks) has been identified in previous studies, statistics based on long data series have not yet been fully analyzed. The main goal of this communication is to present a study of the daily variation of surface ozone, the frequency of occurrence of nocturnal maxima, their seasonality and their dependence on the type of air quality station. Hourly ozone concentrations collected in 39 background air quality stations during 24 years in Portugal were analyzed. Relationships between the frequency of occurrence of nighttime peaks and the season and the type of air quality station are demonstrated. Using road traffic data, it is suggested that the dependence on the type of air quality station is due to the impact of road traffic emissions in the late afternoon and early morning ozone titration. Moreover, using an automatic weather type classification, relationships between weather types and surface ozone concentrations are also suggested.

  1. Method and apparatus for current-output peak detection

    Energy Technology Data Exchange (ETDEWEB)

    De Geronimo, Gianluigi

    2017-01-24

    A method and apparatus for a current-output peak detector. A current-output peak detector circuit is disclosed and works in two phases. The peak detector circuit includes switches to switch the peak detector circuit from the first phase to the second phase upon detection of the peak voltage of an input voltage signal. The peak detector generates a current output with a high degree of accuracy in the second phase.

  2. , Recorded at Ladron Peak, Central New Mexico

    Science.gov (United States)

    Ricketts, J. W.; Kelley, S.; Read, A. S.; Karlstrom, K. E.

    2010-12-01

    Ladron Peak, situated on the western flank of the Rio Grande rift ~30 miles NW of Socorro, NM, is composed of Precambrian granitic and metamorphic assemblages that have been faulted and uplifted during the late Tertiary formation of the rift. The area is bounded on three sides by normal faults, including the anomalously low-angle (~26°) Jeter fault to the east, which places Precambrian rocks in the footwall against Paleozoic and Mesozoic fault slivers, and mainly Cenozoic Santa Fe Group basin fill in the hanging wall. New apatite fission track (AFT) thermochronological data collected at 22 locations along the NE and SE margins of Ladron Peak give a range of ages from 10.9 ± 1.9 to 20.4 ± 8.6 Ma. Samples within the footwall include granitic and metasedimentary rocks that have mean track lengths of 13.1 to 14.1 μm; one quartzite sample has a mean track length of 12.5 μm, suggesting time in the partial annealing zone. Within the hanging wall block, new AFT ages from the Permian Bursum and Abo Formations give cooling ages of 23.1 ± 3.3 Ma. and 59.9 ± 12.4 Ma., respectively. The Bursum Formation sample, with a track length of 13.7 μm, cooled below the 110°C isotherm during the Miocene, while the Abo Formation sample, with a track length of 11.2 μm, was only partially reset prior to rift-related deformation. Mylonitized granitic and metamorphic rocks in the immediate footwall preserve dip-slip lineations that are parallel to slip on the Jeter fault. This suggests that strain associated with exhumation was recorded by both brittle and ductile deformation. Although this type of deformation is common within metamorphic core complexes in highly extended terranes, ductile normal faulting has not been recognized within the Rio Grande rift in New Mexico, though there is some suggestion of ductile deformation around Blanca Peak in the San Luis Valley in Colorado. These observations imply one or both of the following: (1) Ductile deformation at Ladron Peak was

  3. Improving on daily measures of price discovery

    DEFF Research Database (Denmark)

    Dias, Gustavo Fruet; Fernandes, Marcelo; Scherrer, Cristina

    We formulate a continuous-time price discovery model in which the price discovery measure varies (stochastically) at daily frequency. We estimate daily measures of price discovery using a kernel-based OLS estimator instead of running separate daily VECM regressions as standard in the literature. ...

  4. Editorial: Special Issue on Financial Planning

    Directory of Open Access Journals (Sweden)

    Mark Brimble

    2012-11-01

    Full Text Available AbstractThe special edition presents current research in the area of financial planning. With the continual upheaval inglobal financial markets (including Australia, the general trend towards self-funded retirement and lessreliance on the state, financial crises and the continual regulatory changes in the financial markets, this issue istimely and topical. This is the third special edition on financial planning, providing an excellent outlet forquality research in financial planning.

  5. Theoretical aspects of enterprise financial stability management

    OpenAIRE

    Kovalova Tatiana Volodymyrivna

    2015-01-01

    In the article questions related to the aspects of financial stability management, in particular were analyzed, opinions of scientists in relation to a concept «financial stability management» were analyzed; external and internal pre-conditions of loss of financial stability are considered; the offered measures are in relation to stabilizing of financial stability of enterprises in the conditions of financial instability; determination of concept «financial stability management» was improved....

  6. INFORMATION SYSTEM OF THE FINANCIAL ANALYSIS

    OpenAIRE

    MIRELA MONEA

    2013-01-01

    Financial analysis provides the information necessary for decision making, and also helps both the external and internal users of these. The results of the financial analysis work are dependent on the quality, accuracy, relevance and effectiveness of the information collected, and processed. Essential sources of information for financial analysis are financial statements, which are considered the raw material of financial analysis. One of the financial statements -the balance sheet - provi...

  7. Theoretical aspects of enterprise financial stability management

    Directory of Open Access Journals (Sweden)

    Kovalova Tatiana Volodymyrivna

    2015-10-01

    Full Text Available In the article questions related to the aspects of financial stability management, in particular were analyzed, opinions of scientists in relation to a concept «financial stability management» were analyzed; external and internal pre-conditions of loss of financial stability are considered; the offered measures are in relation to stabilizing of financial stability of enterprises in the conditions of financial instability; determination of concept «financial stability management» was improved.

  8. Stress testing in financial institutions

    Directory of Open Access Journals (Sweden)

    Mirković Vladimir

    2014-01-01

    Full Text Available In 2000 the Basle Committee on the Global Financial System defined stress testing as 'a generic term describing various techniques used by financial firms to gauge their potential vulnerability to exceptional but plausible events'. Exceptional events refer to one-off or recurring events with far-reaching consequences for the concerned financial institution and the financial sector s stability overall. Such unexpected (exceptional events include, for instance: bankruptcy in Argentina in 2001, stock markets collapse ('Black Monday' on 19 October 1987, or the fall of the energy giant Enron in 2001. The adoption of the new Basle Accord (better known as Basle II in 2001 envisaged the implementation of stress tests for the identification of events and future changes in economic circumstances that could cause some unfavorable effects on banks' credit exposure, along with the assessment of banks' ability to survive in the new circumstances. Negative experiences from the past, having undermined the stability of financial systems worldwide, made a decisive impact on regulators at all levels to additionally consider the issue of increasing the financial system's resistance to the occurrence of unexpected - exceptional events. To this end, the introduction of stress tests was the turning point in the process of increased banking systems' resistance to shocks. This paper primarily deals with stress testing methodology and bank risk measurement techniques, along with the main results of conducted tests, directly impacting the entire financial system.

  9. The Effectiveness of Daily Assessments: A Preliminary Study in Principles of Financial Accounting

    Science.gov (United States)

    Bush, H. Francis; Walsh, Vonda K.

    2014-01-01

    Today colleges and universities are working with students who are younger than the Internet. They were born at the end of the last century, and are referred to as millennials or the Net Generation. Their learning style and time management preferences may respond better to continuous tasks and constant feedback. This paper examines the statistical…

  10. GLOBALIZATION AND INTERNATIONAL FINANCIAL CENTERS ACTIVITY

    Directory of Open Access Journals (Sweden)

    VALENTINA FETINIUC

    2015-10-01

    Full Text Available International financial centers are places of concentration banking and specialized financial institutions activities, engaged in international financial transactions. They have become elements of international market mechanisms that serve as controls global financial flows. The movement of the past carried out in the field of monetary and settlement services for the sale of goods and services, international investments, transactions with various financial instruments, foreign currency transactions. They have become points of support of financial globalization process, ensuring the normal circulation of international financial flows, and the link between local and international financial markets. This article examines the essence, the types and importance of specific territorial formations in the context of globalization.

  11. Evolutionary financial market models

    Science.gov (United States)

    Ponzi, A.; Aizawa, Y.

    2000-12-01

    We study computer simulations of two financial market models, the second a simplified model of the first. The first is a model of the self-organized formation and breakup of crowds of traders, motivated by the dynamics of competitive evolving systems which shows interesting self-organized critical (SOC)-type behaviour without any fine tuning of control parameters. This SOC-type avalanching and stasis appear as realistic volatility clustering in the price returns time series. The market becomes highly ordered at ‘crashes’ but gradually loses this order through randomization during the intervening stasis periods. The second model is a model of stocks interacting through a competitive evolutionary dynamic in a common stock exchange. This model shows a self-organized ‘market-confidence’. When this is high the market is stable but when it gets low the market may become highly volatile. Volatile bursts rapidly increase the market confidence again. This model shows a phase transition as temperature parameter is varied. The price returns time series in the transition region is very realistic power-law truncated Levy distribution with clustered volatility and volatility superdiffusion. This model also shows generally positive stock cross-correlations as is observed in real markets. This model may shed some light on why such phenomena are observed.

  12. Financialization of commodities

    Directory of Open Access Journals (Sweden)

    Michał Falkowski

    2011-12-01

    Full Text Available The basic theory of price formation tells us how the price of a particular asset will change based on the adjustment to its supply and demand. However, values of assets are also determined by other business fundamentals, company’s and world events, human psychology, and investors’ belief about the possible future profit. In recent history that lead to an increase of individual and institutional investors’ interest in allocating their resources in commodity markets. With a large inflow of capital commodities’ prices started to rise making them attractive components to effective investment portfolios. The presented paper addresses the issue of so called commodities ‘financialization’ process. It looks at the main factors standing behind commodities’ price movements and to what extent financial market participants contributed to commodities price volatility in recent years. Based on the data examined it distinguishes the involvement of both commercial and non-commercial traders in short and long term periods of time. As well as explaining the impact of growing investors’ interest in commodity markets it defines other market forces - like currency appreciations and emerging markets - as being part of increased volatility in raw and soft commodity markets. Along with market examination the paper focuses on possible future outcomes in attempts to regulate commodities derivatives markets and potential effects of those efforts.

  13. Numeracy, Financial Literacy, and Financial Decision-Making

    Directory of Open Access Journals (Sweden)

    Annamaria Lusardi

    2012-01-01

    Full Text Available Financial decisions, be they related to asset building or debt management, require the capacity to do calculations, including some complex ones. But how numerate are individuals, in particular when it comes to calculations related to financial decisions? Studies and surveys implemented in both the United States and in other countries that are described in this paper show the level of numeracy among the population to be very low. Moreover, lack of numeracy is not only widespread but is particularly severe among some demographic groups, such as women, the elderly, and those with low educational attainment. This has potential consequences for individuals and for society as a whole because numeracy is found to be linked to many financial decisions. As we shift responsibility from governments and employers onto individuals, it is increasingly important to find ways to equip people with the skills that are necessary to make savvy financial decisions.

  14. Financial Sector Reforms and The Development of Financial ...

    African Journals Online (AJOL)

    ... grounds and dominated by few institutions, mainly state commercial banks. Common among most of these systems have been controls on interest rates; ... The introduction of financial sector reforms in Tanzania, aims at, among other things, ...

  15. CEA financial report 2007; CEA rapport financier 2007

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2007-07-01

    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.)

  16. Enron: a financial Tchernobyl?; Enron: un Tchernobyl financier?

    Energy Technology Data Exchange (ETDEWEB)

    Nicolet, J.L. [Expert Judiciaire, Pres la Cours d' Appel de Versailles, 78 (France); Alazard, C.; Charron, J.L. [Professeurs agreges d' Economie et Gestion, DECF, Lycee de Sevres, 92 (France)

    2004-07-01

    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)

  17. FINANCIAL STATEMENTS – SUPPLIER OF FINANCIAL ACCOUNTING INFORMATION

    Directory of Open Access Journals (Sweden)

    Costi Boby

    2013-09-01

    Full Text Available Continuous improvement of the accounting information system is considering financial and accounting information, which must be true, accurate, reliable, timely presented to users, constructed so as to meet the different goals of different users.

  18. The Peak Structure and Future Changes of the Relationships Between Extreme Precipitation and Temperature

    Science.gov (United States)

    Wang, Guiling; Wang, Dagang; Trenberth, Kevin E.; Erfanian, Amir; Yu, Miao; Bosilovich, Michael G.; Parr, Dana T.

    2017-01-01

    Theoretical models predict that, in the absence of moisture limitation, extreme precipitation intensity could exponentially increase with temperatures at a rate determined by the Clausius-Clapeyron (C-C) relationship. Climate models project a continuous increase of precipitation extremes for the twenty-first century over most of the globe. However, some station observations suggest a negative scaling of extreme precipitation with very high temperatures, raising doubts about future increase of precipitation extremes. Here we show for the present-day climate over most of the globe,the curve relating daily precipitation extremes with local temperatures has a peak structure, increasing as expected at the low medium range of temperature variations but decreasing at high temperatures. However, this peak-shaped relationship does not imply a potential upper limit for future precipitation extremes. Climate models project both the peak of extreme precipitation and the temperature at which it peaks (T(sub peak)) will increase with warming; the two increases generally conform to the C-C scaling rate in mid- and high-latitudes,and to a super C-C scaling in most of the tropics. Because projected increases of local mean temperature (T(sub mean)) far exceed projected increases of T(sub peak) over land, the conventional approach of relating extreme precipitation to T(sub mean) produces a misleading sub-C-C scaling rate.

  19. A Financial Literacy Measure: Gendering and Contextualising Financial Technicalities

    Directory of Open Access Journals (Sweden)

    Asta Zokaityte

    2016-03-01

    Full Text Available This article analyses the relationship between law, gender, and finance, with a particular focus on gender inequalities in the financial literacy measure which was constructed by the Organisation for Economic Cooperation and Development (OECD. It seeks to trouble predominant claims about financial literacy as an effective, ‘edu-regulatory’ policy to address gender inequalities in the financial services market. The article suggests that instead of acting as a neutral assessment of people’s financial literacy, the measure, in fact, embodies gendered assumptions about finance and financial practices. The measure presents a financial world in abstract terms and fails to account for different contexts within which financial decisions are made. The article exposes the measure’s problematic deployment of the literacy/illiteracy binary in thinking about financial gender inequalities. Rather than being attentive to the ways in which gender inequalities are produced in financial markets, the OECD measure misattributes these to irrational financial behaviour, and further reproduces the marginalisation of women in the global financial market. Este artículo analiza la relación entre derecho, género y finanzas, realizando un enfoque particular en las desigualdades de género existentes en el estudio sobre los conocimientos financieros que elaboró la Organización para la Cooperación y el Desarrollo Económico (OCDE. Busca contrastar las afirmaciones dominantes sobre los conocimientos financieros como una política efectiva, “edu-reguladora” para abordar las desigualdades de género en el mercado de servicios financieros. El artículo sugiere que, en lugar de realizar una evaluación neutral de los conocimientos financieros de las personas, la medida plasma asunciones de género sobre las finanzas y las prácticas financieras. El estudio presenta un mundo financiero en términos abstractos y no tiene en cuenta los diferentes contextos en los

  20. Methods of Financial Risk Management

    Directory of Open Access Journals (Sweden)

    Korzh Natalia

    2016-10-01

    Full Text Available The essence and nature of financial risks are investigated. Their classification is conducted. The features of financial risk management and the main methods of management are considered. The ways of risk compensation are identified. It is proved that the objective external risk basis is such market imperfections as externalities of enterprises and incomplete information about the operation of the business environment and internal objective basis risk – the objective function to maximise profits in a competitive environment. It is revealed that to compensate market imperfections business entities should develop a strategy that combines fill in missing information and neutralise or minimise externalities that tactically implemented in financial risk management programs.