Parks, C.V.; Wagner, J.C.
In the United States, burnup credit has been used in the criticality safety evaluation for storage pools at pressurized water reactors (PWRs) and considerable work has been performed to lay the foundation for use of burnup credit in dry storage and transport cask applications and permanent disposal applications. Many of the technical issues related to the basic physics phenomena and parameters of importance are similar in each of these applications. However, the nuclear fuel cycle in the United States has never been fully integrated and the implementation of burnup credit to each of these applications is dependent somewhat on the specific safety bases developed over the history of each operational area. This paper will briefly review the implementation status of burnup credit for each application area and explore some of the remaining issues associated with effective implementation of burnup credit. (author)
This paper explores transaction cost determinants of credit governance structures (CGS) of commercial banks in Tanzania. Descriptive statistics, linear regression model, binary and multinomial logistic regression models were employed for analysis. Findings revealed four modes of credit governance structures that are ...
This paper explores the issues underlying the credit risk governance mechanism of banking institutions in emerging economies. This is an important area of study given the essential role that banks play in the financial markets of emerging economies and the widespread banking reforms that these economies have implemented. The aim of this study is…
.... Government National Credit Card. 109-38.801 Section 109-38.801 Public Contracts and Property Management..., U.S. Government National Credit Card § 109-38.801 Obtaining SF 149, U.S. Government National Credit Card. DOE offices electing to use national credit cards shall request the assignment of billing address...
Parks, C.V.; Broadhead, B.L.; Dehart, M.D.; Gauld, I.C.
This paper reviews validation issues associated with implementation of burnup credit in transport, dry storage, and disposal. The issues discussed are ones that have been identified by one or more constituents of the United States technical community (national laboratories, licensees, and regulators) that have been exploring the use of burnup credit. There is not necessarily agreement on the importance of the various issues, which sometimes is what creates the issue. The broad issues relate to the paucity of available experimental data (radiochemical assays and critical experiments) covering the full range and characteristics of spent nuclear fuel in away-from-reactor systems. The paper will also introduce recent efforts initiated at Oak Ridge National Laboratory (ORNL) to provide technical information that can help better assess the value of different experiments. The focus of the paper is on experience with validation issues related to use of burnup credit for transport and dry storage applications. (author)
Aldrich, Duncan; Bertot, John Carlo; McClure, Charles R.
Provides a background of government efforts to incorporate telecommunication and computer technologies to improve government performance and enhance citizen access to government information and services. Describes this symposium issue which discusses key issues that affect the success and implementation of electronic government initiatives. (LRW)
Brown, Martin; Andries, Alin Marius
This paper investigates to what extent risk management and corporate governance mitigate the involvement of banks in credit boom and bust cycles. Using a unique, hand-collected dataset on 156 banks from Central and Eastern Europe during 2005-2012, we assess whether banks with stronger risk management and corporate governance display more moderate credit growth in the pre-crisis credit boom as well as a smaller credit contraction and fewer credit losses in the crisis period. With respect to ba...
Mangasa Augustinus Sipahutar
Full Text Available Linkage of credit on BI rate, funds rate, inflation, and government spending on capital provides evidence from Indonesia. This paper found advance explanation about banks credit as monetary transmission channel and its role on Indonesian economy. We used credit depth as a ratio of banks credit to GDP nominal, to explain the role of credit in Indonesian economy. We developed a VAR model to measure the response of credit to BI rate, funds rate and inflation rate, and OLS method to find out how banks credit response to government spending on capital. This paper revealed bi-direction causality between credit and BI rate, credit and funds rate, and credit and inflation. There is trade-off between credit and BI rate, credit and funds rate, and credit and inflation, but government spending on capital promotes credit depth. We found that Indonesian banking is bank view, allocated their credit based on their performance, not merely on the monetary policy determined by central bank. For bank view perspectives, we analyzed the link between LDR as an indicator of credit channel mechanism to NPLs and CAR. We found that there is no significant effect of CAR to LDR, but has a strong negatively relationship between NPLs to LDR. This evidence indicates that commercial banks in Indonesia allocated their credit do not related to their capital but merely to the quality of their credit portfolio.
... Credit Card. 101-26.502 Section 101-26.502 Public Contracts and Property Management Federal Property... SOURCES AND PROGRAM 26.5-GSA Procurement Programs § 101-26.502 U.S. Government National Credit Card. A... Standard Form 149, U.S. Government National Credit Card. [60 FR 19674, Apr. 20, 1995] ...
... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Exemption for corporate credit unions transacting limited government securities business with other credit unions. 401.5 Section 401.5... government securities business with other credit unions. (a)(1) Subject to the requirements of paragraph (b...
... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Credit extended and cards issued by U... NARCOTICS KINGPIN SANCTIONS REGULATIONS Interpretations § 598.409 Credit extended and cards issued by U.S... existing credit agreements, including, but not limited to, charge cards, debit cards, or other credit...
Kim, Dong-young; Kim, JeongYeon
This study reviews the impact of corporate social responsibility (CSR) and corporate governance on its credit rating. The result of regression analysis to credit ratings with relevant primary independent variables shows that both factors have significant effects on it. As we have predicted, the signs of both regression coefficients have a positive sign (+) proving that corporates with excellent CSR and governance index (CGI) scores have higher credit ratings and vice versa. The results show nonfinancial information also may have effects on corporate credit rating. The investment on personal data protection could be an example of CSR/CGI activities which have positive effects on corporate credit ratings.
This study reviews the impact of corporate social responsibility (CSR) and corporate governance on its credit rating. The result of regression analysis to credit ratings with relevant primary independent variables shows that both factors have significant effects on it. As we have predicted, the signs of both regression coefficients have a positive sign (+) proving that corporates with excellent CSR and governance index (CGI) scores have higher credit ratings and vice versa. The results show nonfinancial information also may have effects on corporate credit rating. The investment on personal data protection could be an example of CSR/CGI activities which have positive effects on corporate credit ratings. PMID:25401134
... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Credit extended and cards issued by U... SANCTIONS REGULATIONS Interpretations § 546.409 Credit extended and cards issued by U.S. financial..., charge cards, debit cards, or other credit facilities issued by a U.S. financial institution to a person...
... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Credit extended and cards issued by U... ZIMBABWE SANCTIONS REGULATIONS Interpretations § 541.408 Credit extended and cards issued by U.S. financial..., charge cards, debit cards, or other credit facilities issued by a U.S. financial institution to a person...
... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Credit extended and cards issued by U... SANCTIONS REGULATIONS Interpretations § 548.409 Credit extended and cards issued by U.S. financial..., charge cards, debit cards, or other credit facilities issued by a U.S. financial institution to a person...
... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Credit extended and cards issued by U... BALKANS STABILIZATION REGULATIONS Interpretations § 588.409 Credit extended and cards issued by U.S... not limited to, charge cards, debit cards, or other credit facilities issued by a U.S. financial...
... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Credit extended and cards issued by U... TERRORISM SANCTIONS REGULATIONS Interpretations § 594.410 Credit extended and cards issued by U.S. financial... agreements, including, but not limited to, charge cards, debit cards, or other credit facilities issued by a...
... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Credit extended and cards issued by U... SANCTIONS REGULATIONS Interpretations § 542.409 Credit extended and cards issued by U.S. financial..., charge cards, debit cards, or other credit facilities issued by a U.S. financial institution to a person...
... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Credit extended and cards issued by U...'IVOIRE SANCTIONS REGULATIONS Interpretations § 543.409 Credit extended and cards issued by U.S. financial..., charge cards, debit cards, or other credit facilities issued by a U.S. financial institution to a person...
... Earned Income Tax Credit Issue Committee AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Notice of Meeting. SUMMARY: An open meeting of the Taxpayer Advocacy Panel Earned Income Tax Credit Issue... Advocacy Panel Earned Income Tax Credit Issue Committee will be held Tuesday, April 20, 2010 from 8 a.m. to...
Full Text Available The objective of this paper is to determine possible indicators that affect local unit credit risk and investigate their effect on default (credit risk of local government units in Croatia. No system for the estimation of local unit credit risk has been established in Croatia so far causing many practical problems in local unit borrowing. Because of the specific nature of the operations of local government units and legislation that does not allow local government units to go into bankruptcy, conventional methods for estimating credit risk are not applicable, and the set of standard potential determinants of credit risk has to be expanded with new indicators. Thus in the paper, in addition to the usual determinants of credit risk, the hypothesis of the influence of political factors on local unit credit risk in Croatia is also tested out, with the use of a Tobit model. Results of econometric analysis show that credit risk of local government units in Croatia is affected by the political structure of local government, the proportion of income tax and surtax in operating revenue, the ratio of net operating balance, net financial liabilities and direct debt to operating revenue, as well as the ratio of debt repayment and cash, and direct debt and operating revenue.
... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Credit extended and cards issued by U... NARCOTICS TRAFFICKING SANCTIONS REGULATIONS Interpretations § 536.409 Credit extended and cards issued by U... any existing credit agreements, including, but not limited to, charge cards, debit cards, or other...
... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Credit extended and cards issued by U... LIBERIAN REGIME OF CHARLES TAYLOR SANCTIONS REGULATIONS Interpretations § 593.409 Credit extended and cards..., including, but not limited to, charge cards, debit cards, or other credit facilities issued by a U.S...
... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Credit extended and cards issued by U... Credit extended and cards issued by U.S. financial institutions. Section 587.201 on dealing in property... institutions from performing under any existing credit agreements, including, but not limited to, charge cards...
... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Credit extended and cards issued by U... agreements, including, but not limited to, charge cards, debit cards, or other credit facilities issued by a... OF MASS DESTRUCTION PROLIFERATORS SANCTIONS REGULATIONS Interpretations § 544.409 Credit extended and...
... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Credit extended and cards issued by U... DEMOCRATIC REPUBLIC OF THE CONGO SANCTIONS REGULATIONS Interpretations § 547.409 Credit extended and cards..., including, but not limited to, charge cards, debit cards, or other credit facilities issued by a U.S...
Broadhead, B.L.; DeHart, M.D.
Calculations for long-term-disposal criticality safety of spent nuclear fuel requires the application of burnup credit because of the large mass of fissile material that will be present in the repository. Burnup credit calculations are based on depletion calculations that provide a conservative estimate of spent fuel contents, followed by criticality calculations to assess the value of keff for a spent fuel cask or a fuel configuration under a variety of probabilistically derived events. In order to ensure that the depletion calculation is conservative, it is necessary to both qualify and quantify assumptions that can be made in depletion models used to characterize spent fuel. Most effort in the United States this decade has focused on burnup issues related to pressurized-water reactors. However, requirements for the permanent disposal of fuel from boiling-water reactors has necessitated development of methods for prediction of spent fuel contents for such fuels. Concomitant with such analyses, validation is also necessary. This paper provides a summary of initial efforts at the Oak Ridge National Laboratory to better understand and validate spent fuel analyses for boiling-water-reactor fuel
Full Text Available The two cultures theory argues that policy makers and scientists have different cultures and difficulty in communicating with each other. Others argue that there is increasing co-production of knowledge. This essay aims to assess the concerns of policy makers based on our policy work, policy-related research work, and our day-to-day experiences in terms of three questions: What are the perceived major issues for water governance? What are the major challenges in the structure of the existing global water governance approach? What is the vision for improving global water governance? This essay combines views from governmental, hybrid, inter- and non-governmental policy makers. It argues that water covers so many issues, aspects, and sectors that a key challenge is whether water should be governed as a sector or as a cross-cutting issue. It looks at how this challenge plays out within the United Nations system and leads to specific goal setting, while missing an overall visionary approach and a legally binding system of governance; within the hybrid arena, where it leads to inclusive discussion but not necessarily triggering consensus decisions; within nation states, where it has led to a loss of focus and a multitude of gaps and overlaps; and within transnational cooperative projects, where it has led to multiple interpretations of what is good practice. It then identifies a series of research questions.
estate loans. By employing quantitative governance variables the article finds that increased executive director remuneration is associated with increased credit risk posed by the bank’s borrowers. On the other hand, increasing the number of executive/“inside” directors is associated with a lower credit...... executive director remuneration. The policy implication is that financial authorities should be increasingly aware of insufficient corporate governance characteristics in order to prevent excessive credit risk exposure. Moreover, the article provides important insights on which corporate governance...... the “Supervision Diamond” introduced by the Danish FSA, which “external” board directors must address. It contains five thresholds for measuring a bank’s exposure to credit risks i.e. the proportion of large customers, lending growth, the ratio of lending/deposits, liquidity buffer and the proportion of real...
Silvija Vlah Jerić
Full Text Available Over the past few decades, data mining techniques, especially artificial neural networks, have been used for modelling many real-world problems. This paper aims to test the performance of three methods: (1 an artificial neural network (ANN, (2 a hybrid artificial neural network and genetic algorithm approach (ANN-GA, and (2 the Tobit regression approach in determining the credit risk of local government units in Croatia. The evaluation of credit risk and prediction of debtor bankruptcy have long been regarded as an important topic in accounting and finance literature. In this research, credit risk is modelled under a regression approach unlike typical credit risk analysis, which is generally viewed as a classification problem. Namely, a standard evaluation of credit risk is not possible due to a lack of bankruptcy data. Thus, the credit risk of a local unit is approximated using the ratio of outstanding liabilities maturing in a given year to total expenditure of the local unit in the same period. The results indicate that the ANN-GA hybrid approach performs significantly better than the Tobit model by providing a significantly smaller average mean squared error. This work is beneficial to researchers and the government in evaluating a local government unit’s credit score.
Fields, P A; Goldstone, A H
Every patient in every part of the world has the right to expect the best possible quality of care from health care providers. Non-Hodgkin's lymphomas (NHL) are an extremely heterogeneous group of conditions which require important decisions to be taken at many points along the treatment pathway. To get this right every time requires that high-quality standards are instituted and adhered to, so that the best possible outcome is achieved. In the past this has not always been the case because of the failure of clinicians sometimes to adhere to an optimal management plan. In 1995, the UK government commissioned an inquiry into the running of cancer services in the United Kingdom, which culminated in a series of recommendations to improve them. Subsequently, these recommendations were implemented as objectives of the NHS Cancer Plan which is the framework by which the UK government wishes to improve cancer services. Concurrently another general concept has emerged which is designed to ensure that the highest quality standards may be achieved for all patients across the whole National Health Service (NHS). This concept, termed 'clinical governance', brings together a corporate responsibility of all health care workers to deliver high quality standards, in the hope that this will translate into better long-term survival of patients with malignant disease. This chapter focuses on the issues surrounding clinical governance and how the principles of this concept relate to non-Hodgkin's lymphomas.
Kevin Rackstraw, John Palmisano
OAK-B135 This paper focuses on credits that are derived from wind energy technology, but the same concepts apply to other renewable energy technologies as well. Credit trading can be applied to a wide variety of policies, programs and private market activities and represents a means of tapping into revenue streams that heretofore have largely excluded wind and other renewables. In addition, credit trading can help to ''create'' new revenue streams for wind and other renewables by helping to grow new markets.
Gonzalez, Eduardo T.; Mendoza, Magdalena L.
This paper attempts to analyze governance systems in Southeast Asia and proposes some policy suggestions that can improve governance practices in the region. It also discusses the links between governance and official development assistance and the role of the Japan Bank for International Cooperation. To put the discussion on governance systems in a proper context, the paper discusses the governance and growth nexus in Southeast Asia; describes the operating governance systems in Southeast As...
This article introduces the status quo of consumer credit business in China’s agricultural bank,indicating that the scale of China’s consumer credit business is expanded year by year;the growth of consumer credit business slows down;housing loans grow rapidly.We analyze issues concerning development of consumer credit business in agricultural bank as follows:single variety of consumer credit business makes the operating scope narrow;the formality of consumer credit business is trivial,abating consumers’ will to borrow;consumers’ consumer attitudes are stale,yet to be further changed;the loan interest of consumer credit is beyond the majority of consumers’ actual ability to pay;the existing regulations and systems are not sound;the risk prevention mechanism is not perfect.Based on this,we put forward the following countermeasures and proposals for further improving consumer credit business in China’s agricultural bank:first,formulate reasonable marketing strategy of consumer credit business;second,establish and improve the internal management mechanism;third,establish and improve risk assessment system;fourth,improve consumer credit legal system.
... certain issues related to the clearing of Credit Default Swaps in the context of the Agencies rulemaking... comments must be in English or be accompanied by an English translation. All submissions provided to either...
Manz, Paul C; Zelenka, Michael J; Wittig, Raymond S; Smith, Sally A
...; the alternatives that would permit the Government to own the copyright in government works ; the ability to allow private sector companies to assign coauthored works; and the importance to a federal technology manager of such protection.
... 41 Public Contracts and Property Management 2 2010-07-01 2010-07-01 true Standard Form 149, U.S. Government National Credit Card. 101-26.4901-149 Section 101-26.4901-149 Public Contracts and Property... 149, U.S. Government National Credit Card. Note: The form illustrated in § 101-26.4901-149 is filed as...
... loans to the Government of Sudan. Except as otherwise authorized, the grant or extension of credits or... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Prohibited grant or extension of credits or loans to the Government of Sudan. 538.208 Section 538.208 Money and Finance: Treasury...
Baron, R. [International Energy Agency IEA, Paris (France); Ellis, J. [Environment Directorate, International Energy Agency IEA, Organisation for Economic Co-operation and Development OECD, Paris (France)
Guiding policy choices requires a systematic comparison of options. In the case of a hypothetical policy instrument, e.g. sectoral crediting, such systematic comparison is difficult as different options may not be strictly comparable. For instance, not all options may be easily applied to a given sector (e.g. an intensity-based crediting may hardly be implemented to a government policy seeking to substitute public transport for personal vehicles); the policy-based SCM may be the only practical option in this case and comparison is therefore moot. Also, not all countries may have the institutional capacity to implement all three options at the same scale. Last, the ability of each option to deliver real reductions hinges on the 'additionality' of the sector's efforts and on the stringency of the baseline. Unfortunately, there is no universally recognised method to define additionality and to determine a baseline. This paper nonetheless offers some insights on how each potential SCM option may fare with respect to the following criteria: Environmental effectiveness: can this option trigger real reductions where implemented?; Addressing competitiveness concerns; Administrative cost and feasibility: how demanding is the mechanism in terms of monitoring, review and, possibly enforcement policy?; Economic efficiency: to what extent does the mechanism lead to the adoption of the least-cost mitigation options in the sector? An initial assessment of each option along these criteria is provided in the conclusion section. This paper explores potential SCMs along several lines. Section 2 draws lessons from existing mechanisms; section 3 considers several dimensions to be considered for baselines; section 4 discusses how SCM could be implemented to provide effective incentives to mitigation; section 5 explores international governance issues. Concluding remarks are presented in section 6.
Manz, Paul C; Zelenka, Michael J; Wittig, Raymond S; Smith, Sally A
The federal government, through its employees and contractors, produces commercially valuable inventions and information every day, often without any protection of the intellectual property involved...
examines the issues of leadership, corruption and governance with a view to adumbrate ..... public realm” and the latter a “moral primordial public realm”. Therefore ... This notion and virus has affected the conduct of government business and.
Gary Clyde Hufbauer
This paper opens with a short recollection of the Kiel Week Conference of 2002, recorded in a volume edited by Horst Siebert, titled Global Governance: An Architecture for the World Economy. Assess-ments and forecasts made at that time are scored against subsequent developments. Security relations between the great powers are asserted to define the space for global economic governance. Over the next thirty years, the security context is not likely to provide the same inspiration for global ec...
Carter, N.T.; Mol, A.P.J.
In the face of unprecedented economic and industrial growth levels, China is rapidly developing its system of environmental governance. Coming from a conventional command-and-control approach to environmental policy, which fitted well its centrally planned economy, transitional China is swiftly
Internet Governance: Origins, Current Issues, and Future Possibilities provides an introductory, multidisciplinary account of the forces at work in the evolving concept of internet governance and includes computer history, Internet beginnings, institutions and stakeholders, proposed models of governance, and human rights.
Montana Commission on Post-Secondary Education, Helena.
This brief report consists of a series of observations on governance, planning, and coordination in Montana postsecondary education. It offers an impressionistic overview of three selected issues: the regents and the 1972 Constitution (background, governance, accountability, and legal protection); Governance of Vocational-Technical Centers (the…
Twinn, C.M.; Henderson, M.J.; Thomas, K.A.
Prior to the colonization of North America, First Nations were self-governing sovereign nations, with their own traditions, history and culture. While it is not correct to speak of First Nations in general, it is correct to say that all First Nations have the common experience of dispossession from their lands and displacement of their traditional governments. The various treaties over the centuries, but most particularly the recognition and entrenchment of aboriginal and treaty rights in the Constitution of 1982 are steps towards rectifying the wrongs suffered by First Nations during colonial times. The recognition of aboriginal treaty rights has resulted in a significant shift in Canadian law and politics as First Nations are increasingly asserting greater jurisdiction over their lands and resources. This paper presents a historical perspective of the Indian Act Governmental System and discusses recent developments in native land claim settlements and the importance for industry and First Nations to establish a relationship based on trust. The Nisga'a settlement is used as an example of the increased autonomy of First Nations. Once ratified, the Nisga'a will have ownership of forestry and subsurface resources. The province will retain full ownership and regulatory authority over water. 19 refs
Key Words: Gender issues, local governance, women empowerment, women ... A higher percentage of the people in the Nigeria live at the grassroots .... Data collected as presented in Table 1 (see appendix) shows that in both zones.
results in a net loss in economic efficiency over time. 32 See, for example, N. Gregory Mankiw , Principles of Microeconomics (Fort Worth: Dryden Press...CRS Report for Congress Prepared for Members and Committees of Congress The Size and Role of Government: Economic Issues Marc Labonte...COVERED 00-00-2009 to 00-00-2009 4. TITLE AND SUBTITLE The Size and Role of Government: Economic Issues 5a. CONTRACT NUMBER 5b. GRANT NUMBER 5c
K.A. Darshana Lakmal
Full Text Available Corporate governance is a process that aims to allocate corporate resources in a manner that maximizes value for all stakeholders — shareholders, investors, employees, customers, suppliers, environment and the community at large and holds those at the helms to account by evaluating their decisions on transparency, inclusivity, equity and responsibility. Corporate governance has been commonly defined as the rules and procedures in place for governing an organization. It is the set of processes, customs, policies, laws, and institutions affecting the way a corporation (or company is directed, administered or controlled. Corporate governance also includes the relationships among the many stakeholders involved and the goals for which the corporation is governed. Corporate governance principles and codes have been developed in different countries and issued from stock exchanges, corporations, institutional investors, or associations (institutes of directors and managers with the support of governments and international organizations. As a rule, compliance with these governance recommendations is not mandated by law, although the codes linked to stock exchange listing requirements may have a coercive effect. However, given the rapid developments within the field and the increasing prominence of corporate governance in the modern world, this definition may be considered too narrow. Corporate governance, while a topic that has been examined in considerable depth in many areas, is widely applicable to a vast array of topics and issues. This study contributes to the literature by extending the mainly based on board literature to where there are important institutional differences and issues in ownership structure and corporate governance system and seeks to address new and emerging issues which have yet to be closely examined and have, to a degree, been overlooked
Full Text Available The use of public–private partnerships (PPPs is growing in the United States in response to reductions in funding combined with an aging highway transportation infrastructure. Many other countries have longer experience with PPP and a greater understanding of the issues surrounding their use. The main governance issues to be addressed in PPPs deal with risk-sharing, relationships, contracts, and legal framework, and standard processes within dedicated organizational units. These governance issues are examined in the context of a case study for the US 36 Phase II PPP in Colorado. Findings suggest that for the US Phase II project, governance issues are resolved through more relational forms than prescriptive contractual language. Colorado has established a dedicated organizational unit to facilitate the use of PPPs, but there exist no standards or best practices in the United States for procurement, concession terms, or risk-sharing.
N. W. Chan
Full Text Available Water is one of the central issues in the 21st century in Malaysia. Of all the issues associated with water management, governance is considered of primary importance. This paper examines water governance in Malaysia and concludes that it is successful in the sense that water is served to more than 95 % of the population, water tariffs are some of the cheapest in the world, the poor is not denied access, and water supply is 24 hours per day. However, there are many areas that need improvement to achieve better governance in water management. One is to improve Government-controlled water departments by ensuring their workers are well-trained and committed to excellence, public service and integrity instead of the usual laid-back government-servant mentality. Another is to ensure politicians do not interfere in the water sector. Currently, it is widely believed that many water companies are linked to powerful politicians, making the awarding of contracts, tariffs and other management aspects non-transparent and ineffective. Ideally, politicians that govern should act on the professional advice of the water managers and not the other way around. Another area of water governance that needs to be intensified is the war against corruption. In the water sector, there should also be an all-out war on corruption at all levels of governance, in both the public and private sectors. Government should make all contracts in the water sector awarded through open tender with public consultation to ensure professionalism, fairness, transparency, accountability and good governance. Equally, all contracts and other relevant documents drawn up between the government and private companies should not be “classified” but instead be public documents available to the public for discussion, review and improvement. Another area to ensure better governance is for the government to engage and actively involved all stakeholders in the water sector, especially civil
Le, Hanh; Delbosc, Anais
Among the publications of CDC Climat Research, 'Climate Briefs' presents, in a few pages, hot topics in climate change policy. This issue addresses the following points: In order to achieve its long-term emission reduction target following the Fukushima incident, Japan would rely more heavily on international offsetting activities. Concurrent to vigorous proposals to reform the CDM, Japan is also promoting an offset crediting scheme through bilateral agreements with developing countries as a post-2012 market mechanism. Despite potential benefits, issues relating to the accounting rules, environmental integrity and implications to carbon markets warrant further consideration prior to international recognition
Local governance, interpreted as the active involvement of the local population in ensuring improved quality of service and leadership at the local level, involves greater participation by civil society in decision-making processes. The paper examined women's participation and the prevailing gender issues in local ...
The paper presents the issues of ethnicity, governance, and prevention of conflicts in terms of their political management through the proper exercise of power. Conflict cannot be prevented. It can only be managed. The crucial determining factor is ethnic, gender and class relations in power. The paper traces notion of power ...
Geetajali Bali; Frank Skinner
We examine the determinants of the at issue time to maturity of corporate bonds. We find evidence that corporations partly determine the at issue maturity of bonds by responding to economic conditions. They also appear to immunize by matching the maturity of assets with the at issue maturity of bonds regardless of credit quality. Finally, we find evidence that the security level (our proxy for the recovery rate) is inversely related to the at issue time to maturity. This suggests that lenders...
Full Text Available In this paper issues arising from crossing boundaries between the three worlds of academia, business and government in performing informatics research are explored. In particular the issues arising for informatics researchers in conducting case studies in business are explored following the qualitative research phases set out by Denzin and Lincoln (2000. Habermas (1996 provides a philosophical and structural framework on which to base this exploration. Informatics case study research is selected to deconstruct because it is the most common qualitative method chosen by informatics researchers. The framework developed in this paper is one attempt to address Hirschheim and Klein's (2003 claim that the field of information systems is a 'fragmented adhocracy' in which disconnects exist between researchers and practitioners in business, researchers and government, researchers and the rest of academia and also within the ever growing context in which informatics research takes place. Such a framework provides a navigation aid for dealing with the complex issues associated with dilemmas, disconnect and distortions that may arise in undertaking case study research.
Lydiatt, I. [KeySpan Energy Canada, Calgary, AB (Canada)
This Power Point presentation presented the basics of a credit policy with reference to corporate objectives, governance, credit definitions, subjective/objective elements, quantification of full risk, management, monitoring, reporting and gate-keeping processes. Options for a credit policy were described as being approval authority grids, confidentiality issues, credit scoring, corporate risk levels, follow-up collection calling, and procedures on unapproved exposures. Recommendations for setting risk and credit limits were also presented with a note emphasizing that in the past 6 months credit evaluation processes have had to deal with the media risk, a new risk that has not been seen before. This risk can be addressed by careful monitoring of stock prices. The paper also presented recommendations for what to look for as indicators and how to deal with risk in volatile price periods. Credit tools for volatile times were described. 1 tab.
This Power Point presentation presented the basics of a credit policy with reference to corporate objectives, governance, credit definitions, subjective/objective elements, quantification of full risk, management, monitoring, reporting and gate-keeping processes. Options for a credit policy were described as being approval authority grids, confidentiality issues, credit scoring, corporate risk levels, follow-up collection calling, and procedures on unapproved exposures. Recommendations for setting risk and credit limits were also presented with a note emphasizing that in the past 6 months credit evaluation processes have had to deal with the media risk, a new risk that has not been seen before. This risk can be addressed by careful monitoring of stock prices. The paper also presented recommendations for what to look for as indicators and how to deal with risk in volatile price periods. Credit tools for volatile times were described. 1 tab
Full Text Available In this article, the authors seek to emphasize the risk factors that may occur due to not implementing or faultyimplementation of corporate governance for credit institutions, and its role in fraud prevention and detection. To avoidinappropriate governance, top management should have special preoccupations for the development of strategies,developing internal control policies by which to determine and evaluate the risks of the organization. Corporategovernance starts with a broad range of beneficiaries (stakeholders who contribute with resources to an organization(investments, taxes, charitable contributions, etc. Those members are the direct and indirect beneficiaries of theorganizational unit to be regulated. Corporate governance involving several parties: the leadership board, the internalauditors or those of the external environment. In some cases, regulatory authorities or professional associations,contribute to this process.
Sedjo, Roger A.; Marland, Gregg
Permit trading among polluting parties is now firmly established as a policy tool in a range of environmental policy areas. The Kyoto Protocol accepts the principle that sequestration of carbon in the terrestrial biosphere can be used to offset emissions of carbon from fossil fuel combustion and outlines mechanisms. Although the lack of guaranteed permanence of biological offsets is often viewed as a defect, this paper argues that the absence of guaranteed permanence need not be a fundamental problem. We view carbon emissions as a liability issue. One purpose of an emissions credit system is to provide the emitter with a means to satisfy the carbon liability associated with her firm's (or country's) release of carbon into the atmosphere. We have developed and here expand on a rental approach, in which sequestered carbon is explicitly treated as temporary: the emitter temporarily satisfies his liability by temporarily 'parking' his liability, for a fee, in a terrestrial carbon reservoir, or 'sink,' such as a forest or agricultural soil. Finally, the paper relates the value of permanent and temporary sequestration and argues that both instruments are tradable and have a high degree of substitutability that allows them to interact in markets
Hernon, Peter; McClure, Charles R.
Provides an overview of U.S. federal information policy and its treatment of electronic information resources. Highlights include government publications; electronic government information; main providers of government information, including the Government Printing Office; the Freedom of Information Act; public access and use; information…
Forster, Greg; D'Andrea, Christian
This study examines the Florida Tax Credit Scholarship program, one of the nation's largest school choice programs. It is the first ever completed empirical evaluation of a tax-credit scholarship program, a type of program that creates school choice through the tax code. Earlier reports, including a recent one on the Florida program, have not…
Full Text Available The local government financing platform is set up by local government through state-owned assets, real estate and equity capital. The functions of these companies are financing, construction, operation, the repaying debts. The local government financing platform can broaden the financing channels of local government in a great extent; alleviate the pressure of capital requirement. But at the same time, with the gradual expansion of the scale of debt, a series of problems has arisen: the amount of financing platform companies is huge, debt repayment depends too much on real estate price, the integration of government administration with enterprise, capital injection, and accounts of these companies are not well exposed. Once these problems outbreak, it may cause a series of financial crises, thereby threaten the entire banking industry even the healthy development of the national economy.
Cheverie, Joan F
This insightful book explores the challenging issues related to effective access to government information.Amidst all the chaos of today's dynamic information transition period, the only constants related to government information are change and inconsistency, yet with Government Information Collections in the Networked Environment: New Issues and Models, you will defeat the challenging issues and take advantage of the opportunities that networked government information collections have to offer. This valuable book gives you a fresh opportunity to rethink collecting activities and to
Reviews the literature of e-government deployment world-wide, focussing on two possible roles for public libraries in e-government. The first is a continuation of their traditional role of information provision and managing library transactions electronically and the second, a move to handling government business transactions as well. Identifies…
Millar-Schijf, Carla C.J.M.
Research Question/Issue The article addresses the issue of whether governance bundles which include both formal and informal governance mechanisms should be classified and compared on the basis of national identity. Research Findings/Insights The governance bundle affecting each firm has formal
Adrian Cantemir CALIN; Oana Cristina POPOVICI
Credit risk governs all financial transactions and it is defined as the risk of suffering a loss due to certain shifts in the credit quality of a counterpart. Credit risk literature gravitates around two main modeling approaches: the structural approach and the reduced form approach. In addition to these perspectives, credit risk assessment has been conducted through a series of techniques such as credit scoring models, which form the traditional approach. This paper examines the evolution of...
Jørgensen, Michael Søgaard
The chapter analyses recent governance in Denmark of the interaction between climate, energy and land use. Governance is seen as inclusion and exclusion of actors and their perspectives in decisions about problems and solutions. Inclusion and exclusion are discussed as decisions about members...... and focus of public commissions. Furthermore, inclusion and exclusion are discussed as an aspect of NGOs’ development of climate plans and the societal role of such plans. The chapter concludes that governance of this field is balancing the interests of established and polluting sectors and the interest...
Girton, Kathryn M.
Using transaction-cost economics as a theoretical lens, this paper analyzes educational alliances, which are agreements between educational organizations, such as those between 2-year and 4-year colleges. Transaction costs are those costs associated with the movement of course-credit hours across different institutional environments. The report…
This analysis examines the demographics of the special needs population in public and private schools in Oklahoma and estimates the impact on school enrollments providing tax credit funded scholarship grants for special needs students. The author and his colleagues develop a model that shows how the expenditures of Oklahoma's school districts vary…
Many states have enacted or are considering proposals to give tax credits for contributions that provide tuition scholarships for students in K-12 schools to attend the private or public schools of their choice. This study seeks to inform the public and policymakers about the implications for Montana if the state were to enact such a program. The…
Sallmen Smith, L.J.
From 1978 to 1985, the U.S. Federal government used income tax credits to induce taxpayers to purchase residential solar energy devices. These credits resulted in a significant number of households installing solar devices during the credit period but subsequently devastated the solar industry. Numerous structural problems with the credits and the failure to address important issues in the legislation led to this result. (Author)
... debates emanating from the ensuing perspectival contests and paradigmatic struggles. The moral economy, rational choice, and subaltern approaches are also interrogated and critiqued. The paper contends that when the structures and procedures of democratic governance are undermined, political legitimacy also gets ...
Rocco de Campos Pereira, R.C.; Schweitzer, R.
This paper describes governance arrangements in regional spatial planning and water resources management at the regional level from a normative point of view. It discusses the need to integrate spatial planning and resources management in order to deliver socially sustainable integral territorial
Full Text Available Credit risk rating is shown to be a relevant determinant in order to estimate good corporate governance and to self-optimize capital structure. The conclusion is argued from a study on a selected (and justified sample of (182 companies listed on the Shanghai Stock Exchange (SHSE and the Shenzhen Stock Exchange (SZSE and which use the same Shanghai Brilliance Credit Rating & Investors Service Company (SBCR assessment criteria, for their credit ratings, from 2010 to 2015. Practically, 3 debt ratios are examined in terms of 11 characteristic variables. Moreover, any relationship between credit rating and corporate governance can be thought to be an interesting finding. The relationship we find between credit rating and leverage is not as evident as that found by other researchers for different countries; it is significantly positively related to the outside director, firm size, tangible assets and firm age, and CEO and chairman office plurality. However, leverage is found to be negatively correlated with board size, profitability, growth opportunity, and non-debt tax shield. Credit rating is positively associated with leverage, but in a less significant way. CEO-Board chairship duality is insignificantly related to leverage. The non-debt tax shield is significantly correlated with leverage. The correlation coefficient between CEO duality and auditor is positive but weakly significant, but seems not consistent with expectations. Finally, profitability cause could be regarded as an interesting finding. Indeed, there is an inverse correlation between profitability and total debt (Notice that the result supports the pecking order theory. In conclusion, it appears that credit rating has less effect on the so listed large Chinese companies than in other countries. Nevertheless, the perspective of assessing credit risk rating by relevant agencies is indubitably a recommended time dependent leverage determinant.
Rocco de Campos Pereira, R.C.; Schweitzer, R.
This paper describes governance arrangements in regional spatial planning and water resources management at the regional level from a normative point of view. It discusses the need to integrate spatial planning and resources management in order to deliver socially sustainable integral territorial management. To accomplish this, the Metropolitan Area of São Paulo (MASP) was analysed as a case study, in order to demonstrate the challenges met by public administrators and planners regarding the ...
Limited to periodical literature, this annotated bibliography on school finance contains 81 references grouped in 5 categories: (1) policy and politica issues, (2) federal government, (3) state issues, (4) aid to nonpublic schools, and (5) accountability. Following the bibliographic citations, annotations range from 4 to 15 lines and conclude by…
Ma. Victoria T. Herrera
Full Text Available The management of culture involves a network of agencies, institutions and entities both from the public and private sectors. This is part of a collective process by which objects acwuire cultural significance. We create images of our nations, tell stories, and construct experiences for other people through exhibitions, festivals and other cultural activities. Our role is never neutral and it is important to recognize this power and the implications of our actions.In the Philippines, government has taken an active role in the production and management of culture. In spite of the relatively small percentage of funding spent on culture and the arts, it has extended support through various institutions and agencies that, at present, comprise a complex network. Through their respective programs, government has defined paths of cultural production-- from the larger policy framework for organizations to specific commemorative programs. Given this range of involvement, how has the state empowered people and organizations shape culture? What strategies has it taken to extend to support the production and distribution of culture?This paper focuses on two case studies that represent strategies the state has taken in cultural management. At a macro level, the changes the Cultural Center of the Philippines underwent reflect shifting policies and priorities. As products of changing political administrations, this institution went through a re-orientation of its mission. This came with an abrupt expansion in scale but without the necessary resources to support the CCP's new programs. At a micro level, the second evaluates the refurbished Rizal Shrine, Fort Santiago, one of the major projects of the now defunct National Centennial Commission. This underscores the need for a more transparent decision-making process, prioritizing the interest of the museum's public and not just that of the specialists who control the production of knowledge.
I. A. Kadyrbaev
Full Text Available In this article are considered problem of Russian export development and export Russian investments. The Russian government work actively to increase Russian non-energy export and allocate huge funds for this. Activity of Export Insurance Agency of Russia (EXIAR are examined severally
A number of opportunities exist to increase the efficiency of the next generation of spent fuel shipping casks. Improving cask efficiency will not only reduce life cycle transportation costs, but also is consistent with maintaining public and occupational radiological risks and, more importantly, total risks (radiological and nonradiological) within the guidelines of the ''as low as reasonably achievable'' (ALARA) philosophy. Increases in cask capacities will reduce both the total number of shipments required to transport a given amount of fuel and the number of handling operations at both shipping and receiving facilities. Additional capacity increases can be achieved by implementing various design strategies based on new concepts and/or the actual characteristics of the majority of the spent fuel to be shipped in the future. For example, it has been determined that additional capacity increases can be achieved by taking credit for burnup, the reduced reactivity that results when fuel has been used to produce power in a nuclear reactor. That is, as the fuel is used the atoms of fissile material decrease, and neutron absorbers (or ''poisons'') that tend to retard the fission process are produced. 7 refs., 1 fig
Recent years have revealed local government to be a fundamental stakeholder in the development of arts and music communities. This article provides a context for an exploration and study of the issues, themes and dilemmas that surround local government and music communities. In particular the article provides this examination from an Irish…
Horst Keppler, J.; Schulke, Ch.
Of all economic sectors, energy is among those where the issue of investments is the most urgent. Because of its technological structure and significant fixed costs, the energy sector is by nature heavily capital intensive. With growing demand and increasingly difficult access to resources, the amounts needed become enormous. The International Energy Agency (IEA) estimates in its World Energy Outlook 2008 that total energy investment needs between now and 2030 will stand at $26 trillion, or close to $1 trillion per year. This is just for energy supply. Half of these investments will be needed in the electricity sector (see below for more details on these estimations). Even after putting these figures into perspective in terms of total worldwide investments over the next 25 years, the amount of money is still significant. All types of energy are involved - oil, gas, coal, nuclear and renewables. In addition, all steps in the supply chain are included - exploration, production, transformation and transportation. The stakes are high. Without the necessary investments, security of supply, global economic growth and environmental integrity are put at risk. The most important challenge for the energy sector in the years to come is thus to pave the way for realising timely and appropriate investments. The current economic recession that is threatening to curb global economic growth will not change this fact. Even if global energy demand slows down in the next two or three years, the world will return to its long term growth path. An energy facility lasts between 20 and 60 years. Thus, the structure of energy production in 2050, when the current economic crisis has been forgotten, will be determined now and over the next years. Even if global energy demand remains stable between now and 2050 (which is highly improbable), the replacement of existing facilities that have reached the end of their life-cycle will still require considerable efforts. (authors)
Ekardt, Felix; Hennig, Bettina; Unnerstall, Herwig (eds.)
The present publication is dedicated to renewable energies. The move to a new energy and climate policy impinges on many central humanistic issues (including issues of a legal, economic, sociological, ethical and politological nature). How is it possible to resolve the ambivalences that are associated with the use of renewable energies and which draw our attention not only to renewable energies as such but also to issues of energy efficiency and sufficiency. What political and economic instruments are needed in order to accelerate the market entry of renewable energies and at the same time contain the ambivalences associated with them? And what questions of legal interpretation result from the application of such instruments in practice, be it in the context of subsidies under the Renewable Energy Law or the laws on the planning of building projects. And where lie the causes of the fact seen here that so many individuals in business, the political realm and the public at large are finding it hard to go with the transition to renewable energies?.
This paper examines access to rural banking credit by agribusiness investors and issues for policies in Ahiazu Mbaise local government area of Imo state. The work is important because the existence of limited access of agribusiness investors to formal rural banking credit and extension services is provided by extension ...
This article shows that variations in how two UK governments justified contracting-out (issue framing), combined with shifting sector-derived incentives for union activism (sector character), can help explain the extent of contracting-out. Janitorial service, an activity of the UK government......, and its reform faced unions that stood to lose a great deal from movement of janitorial jobs to private firms. In contrast, the New Labour government framed contracting-out broadly, as a means to efficient social justice, and faced unions with low stakes in government janitors. As a consequence, UK...
Giapponi, Catherine C.; Scheraga, Carl A.
This paper argues that a critical dimension in understanding the factors that inhibit the effectiveness and benefits of airline alliances is corporate transparency. Specifically, the issue of transparency in corporate governance is considered. Corporate governance is the set of institutional arrangements affecting corporate decision making, and deals with the relationship among various participants in determining the direction and performance of corporations. However, airline strategic allian...
Pankaj Kumar GUPTA
Full Text Available Investors now started considering corporate governance as very essential factor before investment especially in view of the unstable environment in the securities market. It is considered that good corporate governance inspires, strengthens and maintains investor’s confidence by ensuring company’s commitment to higher growth and profits. Corporate Governance has become a major concern for global economies particularly the transition world. Sound corporate governance is extremely important for transition economies for creation of the key institutions, the private corporations, which drive the successful economic transformation to a market based economy, effective allocation of capital and development of financial markets, attracting foreign investment and making a contribution to the process of national development. The Corporate Governance issue has emerged primarily because of the growing importance of corporations in the national economies and their interaction with the international agencies and institutions. This paper presents the current scenario of corporate governance in India, the evolving legal framework and identified the major issues and challenges that need to be addressed to implement an effective system of corporate governance in India.
Many states are considering a form a school choice known as "tax-credit scholarships," which currently provide school choice to almost 60,000 students in Arizona, Florida and Pennsylvania, which and have just been enacted in Iowa. This guide shows how tax-credit scholarships work and introduces the scholarship granting organizations that…
Full Text Available The Malaysian federal government is largely responsible towards providing several facilities to the community. The development of various types of property assets which encompasses buildings and infrastructure such as office buildings, roads, bridges and others, has proved that the government is really committed in executing its responsibility. From time to time, the number of property assets that were developed by the government is increasing parallel with the government's desire to stabilize its service quality. Nevertheless, in managing those property assets, the government currently is facing a mixture of problems and pitfalls such as the increase of property management and maintenance costs, the occurrence of incompatible maintenance programs, underutilization of property, end-user dissatisfaction and others. Following this scenario, the study was done with the main objective is to determine the management factors that are hindering the implementation of property management activities. A total of 67 respondents from ministries and technical departments were selected. The data was collected through a survey using questionnaire forms. The collected data was then analyzed using quantitative approaches such as frequency analysis method, mean analysis, relative important index as well as others. Results from the analysis show that there are 5 main management issues in managing Malaysian government owned property assets. Those issues are lack of proper property unit/department within a ministry, lack of expertise, lack of proper strategies, lack of proper management procedure and lack of IT usage.
The focus of the article’s discussion is on governance and management issues that affect the distribution of benefits, delivery of essential services to rural areas of PNG, stability within government, and the expectations of landowners.
Full Text Available A main issue in developing e-government is about how to integrate and organize many complicated processes and different stakeholders. Interestingly geospatial information provides an efficient framework to integrate and organized them. In particular, it is very useful to integrate the process of land management in e-government with geospatial information framework, since most of land management tasks are related with geospatial properties. In this paper, we present a use-case on the e-government project in Kazakhstan for land management. We develop a geoportal to connect many tasks and different users via geospatial information framework. This geoportal is based on open source geospatial software including GeoServer, PostGIS, and OpenLayers. With this geoportal, we expect three achievements as follows. First we establish a transparent governmental process, which is one of main goal of e-government. Every stakeholder monitors what is happening in land management process. Second, we can significantly reduce the time and efforts in the government process. For example, a grant procedure for a building construction has taken more than one year with more than 50 steps. It is expected that this procedure would be reduced to 2 weeks by the geoportal framework. Third we provide a collaborative environment between different governmental structures via the geoportal, while many conflicts and mismatches have been a critical issue of governmental administration processes.
Sagadiyev, K.; Kang, H. K.; Li, K. J.
A main issue in developing e-government is about how to integrate and organize many complicated processes and different stakeholders. Interestingly geospatial information provides an efficient framework to integrate and organized them. In particular, it is very useful to integrate the process of land management in e-government with geospatial information framework, since most of land management tasks are related with geospatial properties. In this paper, we present a use-case on the e-government project in Kazakhstan for land management. We develop a geoportal to connect many tasks and different users via geospatial information framework. This geoportal is based on open source geospatial software including GeoServer, PostGIS, and OpenLayers. With this geoportal, we expect three achievements as follows. First we establish a transparent governmental process, which is one of main goal of e-government. Every stakeholder monitors what is happening in land management process. Second, we can significantly reduce the time and efforts in the government process. For example, a grant procedure for a building construction has taken more than one year with more than 50 steps. It is expected that this procedure would be reduced to 2 weeks by the geoportal framework. Third we provide a collaborative environment between different governmental structures via the geoportal, while many conflicts and mismatches have been a critical issue of governmental administration processes.
Wyld, David C.
Cloud computing is poised to become one of the most important and fundamental shifts in how computing is consumed and used. Forecasts show that government will play a lead role in adopting cloud computing - for data storage, applications, and processing power, as IT executives seek to maximize their returns on limited procurement budgets in these challenging economic times. After an overview of the cloud computing concept, this article explores the security issues facing public sector use of cloud computing and looks to the risk and benefits of shifting to cloud-based models. It concludes with an analysis of the challenges that lie ahead for government use of cloud resources.
N. Poudyal; J. Siry; M. Bowker
This study conducted a nationwide survey of municipal governments in the United States to assess their motivations, willingness, and technical as well as managerial capacities of cities to store carbon and sell carbon offsets. The analysis reveals that cities are fairly interested in selling carbon offsets and their interest in carbon trading is driven by the degree of...
Acknowledges the good work of private schools but resists the provision of further direct or indirect government aid to these schools. Argues that tax credits will adversely affect public education and American society. (Author/WD)
Full Text Available The global economic crisis has stretched its harmful effects including banking activity, this being one of the severely affected economic domains where the greatest efforts of resuscitation were done, sometimes with serious consequences over public money. In this context, restoring the credit institutions’ activity on actual basis, through a more efficient organizational system and re-editing the attributions of the management organs, so that to be able to guarantee for an effective and fast risk management framework, represented a globally assumed goal. Romanian law cannot remain outside this framework especially considering the obligation to join the model imposed by the European legislator by taking over the domestic law of the European directive CRD IV. This paper proposes a comparative study between the current and the previous legislation in order to highlight the main elements of novelty brought by Basel III, CRD IV and GL Guide 44/2011 on the internal governance of credit institutions elaborated by the European Banking Authority.
Ribisl, Kurt M; Williams, Rebecca S; Gizlice, Ziya; Herring, Amy H
Most Internet vendors offer tax-free cigarettes making them cheaper than those sold at stores. This undermines the impact that higher prices have upon reducing consumption. Most Internet tobacco sales have violated taxation and youth access laws, which led to landmark voluntary agreements in 2005 with the major credit card companies and major private shippers to ban payment transactions and shipments for all Internet cigarette sales. To assess whether these bans increased the rate of Internet Cigarette Vendors (ICVs) ceasing online sales, decreased the proportion of vendors offering banned payment and shipping options, and decreased consumer traffic to the most popular ICVs. Websites in a longitudinal study of ICVs were visited in 2003 (n = 338), 2004 (n = 775), 2005 (n = 664), 2006 (n = 762), and 2007 (n = 497) to assess whether they were in business and monitor their advertised sales practices. The number of unique monthly visitors to the 50 most popular ICVs at baseline was examined for the period one year before and two years after the bans to determine whether the bans altered traffic. Following the bans, the rate of ICVs ceasing online sales year to year increased, but due to an influx of new vendors, there was a net increase in ICVs. The proportion of vendors accepting banned payment options dropped from 99.2% to 37.4% after the bans, and the proportion offering banned shipping options dropped from 32.2% to 5.6%, but there was a corresponding increase in vendors offering non-banned payment options (e.g., personal checks) and shipping options (e.g., US Postal Service). Following the bans, there was a 3.5 fold decline in traffic to the most popular ICV websites. This promising approach to controlling the sale of restricted goods online has implications for regulating other products such as alcohol, firearms, quack cures, and medicines sold without a prescription.
Mohd Fauzi Haris; Mohd Hasnor Hasan; Nuruliza Samsudin
In the era where Internet technology has grown rapidly, information is now at your fingertips. Web site is considered as an important medium and widely used whether for the purposes of promoting products and services or as an effective way to disseminate general information about the organization, companies or individuals. Nowadays, a general term such as Web 2.0 is almost out of date and is now entering the era of the Real World Web. For government agencies for instance, official web site is an important and effective tool for dissemination and communication of information to the public. In the view of Web master for a government agency, a number of issues and challenges may arise. They might face the same issues and challenges but they way to handle them are differ from one agency to another, depending on the culture, special rules and regulations applied and shared values among the staff. This paper will discuss these issues and challenges as well as applicable solutions based on our experiences. (author)
Kurt M Ribisl
Full Text Available Most Internet vendors offer tax-free cigarettes making them cheaper than those sold at stores. This undermines the impact that higher prices have upon reducing consumption. Most Internet tobacco sales have violated taxation and youth access laws, which led to landmark voluntary agreements in 2005 with the major credit card companies and major private shippers to ban payment transactions and shipments for all Internet cigarette sales.To assess whether these bans increased the rate of Internet Cigarette Vendors (ICVs ceasing online sales, decreased the proportion of vendors offering banned payment and shipping options, and decreased consumer traffic to the most popular ICVs.Websites in a longitudinal study of ICVs were visited in 2003 (n = 338, 2004 (n = 775, 2005 (n = 664, 2006 (n = 762, and 2007 (n = 497 to assess whether they were in business and monitor their advertised sales practices. The number of unique monthly visitors to the 50 most popular ICVs at baseline was examined for the period one year before and two years after the bans to determine whether the bans altered traffic.Following the bans, the rate of ICVs ceasing online sales year to year increased, but due to an influx of new vendors, there was a net increase in ICVs. The proportion of vendors accepting banned payment options dropped from 99.2% to 37.4% after the bans, and the proportion offering banned shipping options dropped from 32.2% to 5.6%, but there was a corresponding increase in vendors offering non-banned payment options (e.g., personal checks and shipping options (e.g., US Postal Service. Following the bans, there was a 3.5 fold decline in traffic to the most popular ICV websites.This promising approach to controlling the sale of restricted goods online has implications for regulating other products such as alcohol, firearms, quack cures, and medicines sold without a prescription.
Full Text Available to the new and numerous challenges that the market requires. These challenges are economic, but not only. A continuous and steady development involves actually the need to go beyond the limits, not only in the case of traditional companies, but also of those in the start up phase. To be in a multilateral and global economic system - as the present one â€“ supposes a continuous upgrading of production technologies within companies, sometimes by undergoing serious reengineering processes. The updating of the company, however, cannot and should not be perceived as a simple and sudden initiative that is applied superficially just to conform to a market trend. It involves a certain difficulty, and especially the demand for new and ongoing investment in the sector of competence, therefore, it requires a careful process of analysis to relate multiple aspects of the company, including the availability of equity or the need to resort to foreign capital, such as to the bond market, to national or European facilitating tools or to foreign intervention of banking nature, on short or medium-long term, calibrating these interventions based on business needs. It is this delicate "step" in the life of a company - which requires a coherent, appropriate and stable organization of the governance of the company â€“ that we want to tackle within this paper, as well as its interaction with the banking system, which in our specific case is the Italian one, all these by a brief empirical analysis of the relationship that links corporate governance to the access to finances, in the current banking context.
In 2015, legislation to improve access to dual-credit programs and to reduce disparities in access and completion--particularly for low income and underrepresented students--was enacted. The new law focused on expanding access to College in the High School but acknowledged issues in other dual-credit programs and reinforced the notion that cost…
Full Text Available The debate about the possibilities to engineer the Earth's climate has changed drastically in the last years. Suggestions of large-scale technological interventions to combat climate change that a decade ago would have been discarded as science fiction are slowly moving into the center of international climate change discussions, research, and politics. In this article, I elaborate three joint key challenges to geo-engineering research from a resilience perspective, with a special emphasis on governance issues. First, I discuss the need to understand geo-engineering proposals from a "planetary boundaries" perspective. Second, I elaborate why the notion of Earth stewardship and geo-engineering are not necessarily in conflict, but instead could be viewed as complementary approaches. Last, I discuss the critical need to explore an institutional setting that is strong enough to weed out geo-engineering proposals that carry considerable ecological risk, but still allow for novelty, fail-safe experimentation, and continuous learning. These issues are critical for our understanding of how to effectively govern global environmental risks, complex systems, and emerging technologies in the Anthropocene.
Eggert, Sabina; Bogeholz, Susanne
Decision making about socioscientific issues is an important aspect of modern science education worldwide. Among the many topics that represent socioscientific issues, issues relating to the sustainable development of our environment are one crucial topic. However, difficulties exist with respect to the assessment of teaching outcomes related to…
Yasmirullah, Septia Devi Prihastuti; Iriawan, Nur; Sipayung, Feronika Rosalinda
The success of regional economic establishment could be measured by economic growth. Since the Act No. 32 of 2004 has been implemented, unbalance economic among the regency in Indonesia is increasing. This condition is contrary different with the government goal to build society welfare through the economic activity development in each region. This research aims to examine economic growth through the distribution of bank credits to each Indonesia's regency. The data analyzed in this research is hierarchically structured data which follow normal distribution in first level. Two modeling approaches are employed in this research, a global-one level Bayesian approach and two-level hierarchical Bayesian approach. The result shows that hierarchical Bayesian has succeeded to demonstrate a better estimation than a global-one level Bayesian. It proves that the different economic growth in each province is significantly influenced by the variations of micro level characteristics in each province. These variations are significantly affected by cities and province characteristics in second level.
Trybou, Jeroen; Gemmel, Paul; Annemans, Lieven
Our aim was to investigate contractual mechanisms in physician-hospital exchanges. The concepts of risk-sharing and the nature of physician-hospital exchanges - transactional versus relational - were studied. Two qualitative case studies were performed in Belgium. Hospital executives and physicians were interviewed to develop an in-depth understanding of contractual and relational issues that shape physician-hospital contracting in acute care hospitals. The underlying theoretical concepts of agency theory and social exchange theory were used to analyse the data. Our study found that physician-hospital contracting is highly complex. The contract is far more than an economic instrument governing financial aspects. The effect of the contract on the nature of exchange - whether transactional or relational - also needs to be considered. While it can be argued that contractual governance methods are increasingly necessary to overcome the difficulties that arise from the fragmented payment framework by aligning incentives and sharing financial risk, they undermine the necessary relational governance. Relational qualities such as mutual trust and an integrative view on physician-hospital exchanges are threatened, and may be difficult to sustain, given the current fragmentary payment framework. Since health care policy makers are increasing the financial risk borne by health care providers, it can be argued that this also increases the need to share financial risk and to align incentives between physician and hospital. However, our study demonstrates that while economic alignment is important in determining physician-hospital contracts, the corresponding impact on working relationships should also be considered. Moreover, it is important to avoid a relationship between hospital and physician predominantly characterized by transactional exchanges thereby fostering an unhealthy us-and-them divide and mentality. Relational exchange is a valuable alternative to contractual
Andrew, Johnny; Ismail, Normaz Wana; Djama, Marcel
The application of agricultural biotechnology attracts the interest of many stakeholders. Genetically modified (GM) crops, for example, have been rapidly increasing in production for the last 20 years. Despite their known benefits, GM crops also pose many concerns not only to human and animal health but also to the environment. Malaysia, in general, allows the use of GM technology applications but it has to come with precautionary and safety measures consistent with the international obligations and domestic legal frameworks. This paper provides an overview of GM crop technology from international and national context and explores the governance and issues surrounding this technology application in Malaysia. Basically, GM research activities in Malaysia are still at an early stage of research and development and most of the GM crops approved for release are limited for food, feed and processing purposes. Even though Malaysia has not planted any GM crops commercially, actions toward such a direction seem promising. Several issues concerning GM crops as discussed in this paper will become more complex as the number of GM crops and varieties commercialised globally increase and Malaysia starts to plant GM crops. © 2017 Society of Chemical Industry. © 2017 Society of Chemical Industry.
... 48 Federal Acquisition Regulations System 6 2010-10-01 2010-10-01 true Tax credit. 2132.607... Contract Debts 2132.607 Tax credit. FAR 32.607 has no practical application to FEGLI Program contracts. The... Government, contractors may not offset debts to the Fund by a tax credit that is solely a Government...
Credit system is an integrated architecture consisted of financial information, credit rating, credit risk management, receivables and credit insurance systems, credit derivative markets and credit guarantee programs. The main purpose of the credit system is to provide the functioning of all credit channels and to make it easy to access of credit sources demanded by all of real and legal persons in any economic system. Credit guarantee program, the one of prominent elements of the credit syst...
Musa, Maizura binti; Harun-Or-Rashid, M D; Sakamoto, Junichi
Nurse managers have the burden of experiencing frequent ethical issues related to both their managerial and nursing care duties, according to previous international studies. However, no such study was published in Malaysia. The purpose of this study was to explore nurse managers' experience with ethical issues in six government hospitals in Malaysia including learning about the way they dealt with the issues. A cross-sectional study was conducted in August-September, 2010 involving 417 (69.2%) of total 603 nurse managers in the six Malaysian government hospitals. Data were collected using three-part self-administered questionnaire. Part I was regarding participants' demographics. Part II was about the frequency and areas of management where ethical issues were experienced, and scoring of the importance of 11 pre-identified ethical issues. Part III asked how they dealt with ethical issues in general; ways to deal with the 11 pre-identified ethical issues, and perceived stress level. Data were analyzed using descriptive statistics, cross-tabulations and Pearson's Chi-square. A total of 397 (95.2%) participants experienced ethical issues and 47.2% experienced them on weekly to daily basis. Experiencing ethical issues were not associated with areas of practice. Top area of management where ethical issues were encountered was "staff management", but "patient care" related ethical issues were rated as most important. Majority would "discuss with other nurses" in dealing generally with the issues. For pre-identified ethical issues regarding "patient care", "discuss with doctors" was preferred. Only 18.1% referred issues to "ethics committees" and 53.0% to the code of ethics. Nurse managers, regardless of their areas of practice, frequently experienced ethical issues. For dealing with these, team-approach needs to be emphasized. Proper understanding of the code of ethics is needed to provide basis for reasoning.
Full Text Available This study explores the value implications of good corporate governance for a sample of 54 ADR issuing emerging market firms (EMFs from 9 countries primarily located in the regions of Asia, Eastern Europe and Latin America and the and employs recently constructed company composite corporate governance metric along with some alternative corporate governance measures associated with the origin of the issuing firm. Although the ADR literature primarily focuses on the impact of subscription to US disclosure requirements we contend that company and country specific corporate governance standards play a significant role in the risk reduction and ensuing value capture. The fundamental inquiry in this study has the following foci: The primary focus is on the impact of corporate governance structures on firm performance as to whether adherence to standards creates market value for ADR issuing EMFs. Do good corporate governance practices affect the value of EMFs? The secondary focus is concerned with whether the impact of corruption level and legal system in a firm’s home country affect the corporate structures of EMFs thus affecting the market value of firms. In this study, we utilize Tobin’s q as the measure of firm performance/market value. Our findings suggest that there is a significant correlation between corporate governance structures of ADR issuing EMFs and their market values and/or performances. The results also indicate that the level of corruption and legal structures in home countries of EMFs strongly impact the corporate governance structures of these firms and sequentially affect their market values. Therefore, this research further contributes to the scholarly findings and suppositions that corporate structures of firms do create consequences on firm value.
A short review is presented of some of the factors affecting development of the western Canadian oil sands and heavy oil deposits to the year 2000. The Alberta oil sands resource has at least 1 trillion bbl of recoverable oil. At current prices, technology is the key to reducing costs to a more economic level. Cash operating costs have halved to $15/bbl over the past decade and the oil sands companies have programs to halve that figure again. A problem is the rising cost of natural gas as a fuel, which could jeopardize further development of both oil sand and heavy oil resources. In Saskatchewan, over 25 billion bbl of heavy oil are estimated to be in place. The biggest question is what percentage can be recovered; again, technology such as horizontal wells, 3-dimensional seismic, and steam assisted recovery is playing an important role. Concerns are expressed about the intentions of the new Liberal government concerning oil sand/heavy oil development, especially on the issues of foreign investment, exports, and environmental policy. A Liberal energy policy is not likely to allow U.S. direct investment in an oil sands plant to be tied to export of production, and the energy- and emissions-intensive nature of the oil sand/heavy oil industry will tend to make environmental approvals difficult
..., Beneﬁts, and Retirement They Want the Job Security Offered by Government The Government Can Offer the Right Job and Training The Government Offers Many Opportunities to Advance Why Do Government Personnel Systems Make Things So Difﬁcult? 1 1 2 3 4 4 5 7 8 9 10 11 11 12 12 12 13 vii ... 16220$ CNTS 11-14-06 08:22:32 PS PAGE viiviii Contents History of t...
Peters, Clark M.; Dworsky, Amy; Courtney, Mark E.; Pollack, Harold
The Fostering Connections to Success and Increasing Adoptions Act of 2008 allows states to claim federal reimbursement for the costs of caring for and supervising Title IV-E eligible foster youth until their 21st birthday. This issue brief provides preliminary estimates of what the potential costs to government and the benefits to young people…
This Issue Brief states that, in spite of the obvious "reciprocal relationship" between housing and school policy, government housing and education agencies have rarely collaborated to promote the common goals of racial and economic integration. Recent efforts to promote collaboration among housing and school agencies have focused on…
This article describes some strengths and limitations of credit programs for women in developing countries. It is urged that development planners recognize the importance of the selection of the type of credit mechanism in the long term. Ethical issues should be decided upon before the credit mechanism is operable. Organizations should make clear what level of commitment there is to empower borrowers. Most organizations give loans to women and assume empowerment will take place without devising strategies to ensure empowerment. Credit mechanisms include credit for the poor and credit by the poor. A sound financial portfolio and 100% repayment are not the appropriate criteria for securing the empowerment of women. Empowerment of women is related to "building the capacity of borrowers to manage and control decision making." UNICEF's framework of gender equality and women's empowerment identifies levels of empowerment as "welfare, access, conscientisation, participation, and control." Development planners should be aware that provision of credit also has the potential to increase a poor family's debt. Delinquency may be hidden by overlapping loans that trap borrowers. Fewer installment payments increase the chances of a debt trap. Reducing the number of installments may reduce administrative costs and conform to production processes, but may also lead to a debt trap. There is now considerable emphasis on investing in low-income women entrepreneurs as a highly efficient means of achieving social and economic objectives. Credit programs aim to support the growth of small, self-sustaining businesses, to improve women's opportunities, and to provide alternatives to exploitation by local money-lenders. This article describes the following credit mechanisms: bank guarantee systems, government credit schemes, intermediary projects, direct lending projects, banks for the poor, credit unions, and village-based banks.
research on child care environmental health issues, identify key state and regional healthy child care organizations for partnerships, and see how other states are addressing child care environmental health issues.
The challenges facing the Canadian government in implementing a green house gas (GHG) emissions trading program were discussed. The government of Canada is proposing to establish a program offering credit for early action on GHG reduction. However, the program is proving to be difficult to design because Canada's national implementation strategy for climate change has not yet been defined. The program is intended to reveal how emitters can invest in GHG reduction now, and use them against future regulations limiting emissions. The intention is to design the program on the principle that any company which decreases GHG emissions below its 'business-as-usual' level will receive a credit which can later be sold to another source which wants to offset its emissions. Nevertheless, the government is looking for real reductions in the sense that it is trying to bend the 'business-as-usual' forecast down towards the Kyoto targets, and is trying to ensure that the system is a rigorous one before any credits are issued
Full Text Available for inland industrial complexes in South Africa. The social and economic benefits warrant the government support of such industrial complexes, but the negative consequences, for present and future generations, need to be considered in a comprehensive manner...
Indiana legislators are currently debating the merits of a proposal to adopt a statewide tuition scholarship tax credit program. The proposed program would make available $5 million in tax credits that businesses and individuals could claim by making donations to non-profit Scholarship Granting Organizations (SGOs). SGO donations would be matched…
Good, Elizabeth; Hammond, Melinda; Martin, Caroline; Burns, Catherine; Groos, Anita
This project aimed to identify how local government planning tools could be used to influence physical and policy environments to support healthy eating behaviours in communities. An audit of Queensland's legislative and non-legislative local government planning tools was conducted by a public health nutritionist to assess their potential use in addressing strategies to achieve positive nutrition outcomes. Ten strategies were identified and covered the following themes: improving access to healthy foods and drinks; increasing access to breastfeeding facilities; decreasing fast food outlet density; and unhealthy food advertising. The audit found that all of the 10 strategies to achieve positive nutrition outcomes could be considered through three or more of the planning tools. Based on the findings of this audit, local government planning tools provide opportunities to address food and nutrition issues and contribute toward creating physical and policy environments that support healthy eating behaviours.
The Photovoltaics Research, Development, and Demonstration Act of 1978 is discussed. Legal issues, including solar access, the need for performance standards, the effects of building codes on photovoltaic system use and commercialization, and manufacturer and installer performance guarantees, are examined. Electric utility policies are examined, including interconnection, and rates and legal issues affecting them. (LEW)
... management (ALM) and credit risk, and whether to make modifications in the area of corporate governance. NCUA... the revisions, an analysis of how the final investment, credit risk, and asset liability provisions..., credit risk, ALM, liquidity, and capital measures that together should greatly reduce the systemic risk...
... 48 Federal Acquisition Regulations System 6 2010-10-01 2010-10-01 true Tax credit. 1632.607... 1632.607 Tax credit. FAR 32.607 has no practical application to FEHBP contracts. The statutory... may not offset debts to the Fund by a tax credit which is solely a Government obligation. ...
Leslie J. Limage
Full Text Available This paper analyses recent organizational change and governance in UNESCO. The Organization has given priority to the promotion of universal literacy since its inception in 1946. It has persisted in its dual approach to universal literacy through both universal primary education and literacy learning opportunities through formal provision and non-formal learning opportunities for adults and out-of-school youth. A major policy shift in 2006 to abandon systematic and programmatic concern for literacy at UNESCO Headquarters drastically changed priorities. That decision is analysed in the broader UN system setting, United States’ policies since its return to UNESCO, and the recent internal governing dynamics of the agency.
Full Text Available As a key utility service that more than 2 billion people are currently lacking, solid waste management (SWM is a crosscutting issue that can be directly linked to 12 out of the 17 UN Sustainable Development Goals (SDGs. Distinguishing between physical components and governance aspects of SWM, this research focuses on governance issues concerning basic solid waste collection services and controlled disposal, thus addressing the ‘How’ and the ‘Who’ dimensions of a SWM system. As a form of transdisciplinary research, the findings from the literature on governance issues in SWM were iteratively subjected to several rounds of commentary by a large group of stakeholders from six continents, within the authors’ work for the United Nations Environment Programme (UNEP’s 2015 Global Waste Management Outlook. The study identifies a combination of complementary instruments required for extending collection to all and bringing disposal under control. While municipalities have a legal responsibility for providing services to their citizens, various service providers can contribute to an effective SWM system. Appropriate forms of funding are essential to secure financial sustainability of the services under the local conditions of affordability and willingness to pay. As new services require behavioural change on the part of citizens and municipal waste departments alike, communication and exchange with other stakeholders function as enabling and supporting factors. The significance of capacity development is highlighted.
Kovalko, N. M.
The article discusses the problematic aspects of credit ratings and ranking. The economic and legal aspects of ranking relations are addressed. It is concluded that a low credit standing of Ukraine is a sign of our country’s low debt sustainability.It is proved that both for Ukraine and for economically developed countries, the issue of credit ratings is quite important, and at times problematic. The issue is related to the development of the national and international financial credit resour...
Using Castells' four principal functions of universities, this article examines several key dilemmas relating to governance of higher education in SE Asia, (specifically Indonesia, Malaysia, Philippines, Thailand and Vietnam). While all five nations value universities highly, and aspire to widen access to higher education, none can provide public…
... eliminate the option to purchase paper savings bonds through payroll deductions for United States government... savings bonds purchased through payroll sales; individuals will still be able to purchase paper savings bonds at financial institutions for themselves and as gifts. Payroll savers will be encouraged to...
... grant exemptions to mandatory use of Government contractor-issued travel charge card for official travel... REQUIREMENTS Policies and Procedures Relating to Mandatory Use of the Government Contractor-Issued Travel Charge Card for Official Travel § 301-70.701 Who has the authority to grant exemptions to mandatory use...
... DEPARTMENT OF THE TREASURY Order Granting a Temporary Exemption From Certain Government Securities... Department of the Treasury (Treasury) is issuing a temporary exemption from certain Government Securities Act... accommodate customer clearing of credit default swaps that reference government securities. Treasury is also...
Full Text Available When Charles IV relinquished his dominions in favor of Bonaparte, the inhabitants of New Spain and other Hispanic territories faced a major problem: who would be in charge of government? Or, in Servando Teresa de Mier's words: what had to be done so that a group of individuals could be recognized by the heads of the military and obeyed by the people? The main political actors soon realized that any option would be disputable. Our paper examines this phenomenon during the process of Independence. Juntas, congresses and governments would always be liable to questioning. The return of Ferdinand VII to the throne and his incapacity to restore the pre-1808 order proved that there was no turning back the process of debating the political order.
Full Text Available Municipal Solid Waste (MSW management is an essential service for an urban population to maintain sanitation. Managing MSW is complex as the treatment/recovery options depend not only on the volume of waste, but also on the socioeconomic conditions of the population. This paper focusses on MSW management in the Latin American and Caribbean (LAC countries. Dominance of uncontrolled disposal options of MSW in the region, such as open dumps, has an adverse influence on health and sanitation. Interest in source separation practices and recycling is low in the LAC region. Furthermore, economic matters such as poor financial planning and ineffective billing systems also hinder service sustainability. Rapid urbanization is another characteristic feature in the region. The large urban centres that accommodate over 80% of the region’s population pose their own challenges to MSW management. However, the same large volume of MSW generated can become a steady supply of resources, if recovery options are prioritized. Governance is one aspect that binds many activities and stakeholders involved in MSW management. This manuscript describes how we may look at MSW management in LAC from the governance perspective. The issues, as well as the best potential solutions, are both described within three categories of governance: bureaucratic, market, and network. The governance perspective can assist by explaining which stakeholders are involved and who should be responsible for what. Financial issues are the major setbacks observed in the bureaucratic governance institutions that can be reversed with better billing strategies. MSW is still not seen by the private sector as a place to make investments, perhaps due to the negative social attitude associated with waste. The market governance aspects may help increase the efficiency and profitability of the MSW market. Private sector initiatives such as cost-effective microenterprises should be encouraged and the
Blom, Andreas; Cheong, Jannette
Tertiary education, and in particular technical and engineering education, is critical to India's aspirations of strengthening its reputation as a major competitive player in the Global knowledge economy. The system is huge and complex, and there is a consensus that reforms are imperative. Issues of fair access and affordable participation in higher education are critical if India is to em...
Full Text Available The aim of this paper is to propose an approach for representing the territory as a dynamic system of intersubjective relationships that is able to guarantee not only the efficiency of the processes within organizations, but also effective results in the general context and a sustainable impact on the broader environment. This contribution is developed on the basis of the viable systems approach (vSa, which is intended as a theoretical framework for the analysis of social phenomena as well as for orienting government processes. Using this theoretical framework, the proposed approach leads to the representation of the territory as a viable system that is capable of surviving in its own context by creating value for the other entities of the context (public groups of governments, communities, investors, natural environment, future generations, non-human species, thus defining the essential conditions for a sustainable equilibrium. The consideration that social phenomena have to be analyzed by taking into account the different relations and interactions that orient the behavior of individuals and, as a consequence, their main collective manifestations, i.e., organizations, underlines the importance of shifting from a traditional reductionist approach to a systemic approach. In what follows, taking a cue from the definition of sustainability that implies a wider sharing, we provide some initial critical positions, and finally shape the useful elements that can be preparatory to the introduction of a working hypothesis that is capable of delineating a possible itinerary for the development of the territory.
Schneider, Anselm Jakob; Scherer, Andreas
We analyse the increasing engagement of business in the creation and application of self-regulatory standards in the area of human rights in the light of an emerging framework of transnational human rights initiatives. The voluntariness of most of these approaches leads to problems that are characteristic of organizational self-regulation initiatives. Our analysis will show that these issues cannot be resolved simply by designing organizational structures. Rather, we argue that organizations ...
杨勇; 黄曼丽; 宋敏
本文讨论了银行贷款以及商业信用融资对我国上市公司公司治理的影响.通过对1995到2000年间上市公司CEO更换的研究,我们得到两个结论:第一,在经营业绩为负的公司中,银行贷款与强制性CEO更换存在负向关系,而商业信用融资与强制性CEO更换存在正向关系;第二,在盈利能力一般的公司中,商业信用融资与强制性CEO更换仍为正向关系,但银行贷款与强制性CEO更换却不存在明显的关系.以上结果表明,商业信用融资在CEO强制性更换中起到了积极的作用,改善了上市公司的公司治理,而银行贷款却没有起到相应的作用,甚至有负面的作用.%Corporate finance theories suggest that creditors, including commercial banks and trade credit suppliers, have the incentive and capacity to discipline poorly performing managers. This study analyzes how bank borrowing and trade credit financing are related to forced turnover rate of the Chief Executive Officers in China listed firms. We achieve two major results: Among loss-making firms, there is a negative relationship between the amount of bank borrowing and the forced turnover rate; and a positive relation between the amount of trade credit financing and the forced turnover rate. Among firms with low profitability, we find a positive relationship between the amount of trade credit financing and the forced turnover rate; but no relationship between the amount of bank borrowing and the forced turnover rate. Our results suggest that state-owned banks perform a dysfunctional role and the trade credit suppliers perform a beneficial role in the corporate governance of China's listed firms. Our findings on the dysfunctional roles of state-owned banks in corporate governance of China's listed firms are consistent with the theoretical arguments that state-owned banks tend to have a weak incentive to exercise corporate controls owing to the political and private uses of banks by bureaucrats. Our
Fischhoff, Maya E.
The electricity industry's environmental impacts are a matter of acute interest to many outsiders, including government and environmental groups-and they have sought to affect those impacts through regulations, public pressure, and technical assistance. These approaches reflect outsiders' intuitive theories regarding the industry's goals, practices, and capabilities. The research reported here provides a systematic insiders' view on these processes, based on in-depth interviews with 70 middle managers in two electricity companies heavily reliant on coal. It finds managers sincerely committed to environmental action, but often frustrated by confusing regulatory requirements, perceived costs, and other challenges. It identifies ways of enabling middle managers to act on their commitment, with lessons relevant for outside groups and those within companies seeking to effect change
... SECURITIES AND EXCHANGE COMMISSION [Release No. 34-69433; File No. 4-661] Credit Ratings... examine issues in connection with the possibility of developing a credit rating assignment system. The... FURTHER INFORMATION CONTACT: Scott Davey at (212) 336-0075, Office of Credit Ratings, Securities and...
Loaharanu, P.; Ladomery, L.; Ahmed, M.
This article, in reviewing current trends and issues regarding the acceptability of food irradiation at different levels, highlights the role of the International Consultative Group on Food Irradiation (ICGFI). This group was established under the aegis of the Food and Agriculture Organization of the United Nations (FAO), the IAEA and the World Health Organization (WHO) in May 1984, and provides information and advice to the three organizations and ICGFI member countries (35 to date) on work in this field. 21 refs, 2 figs, 1 tab
Organizing by covenant : the organization of transitional labor markets : paper IREC Conference 2004 'Governance issues in shifting industrial and employment relations' Utrecht, The Netherlands, August 26-28, 2004 : session potential and limits of national level socio-economic governance
Korver, T.; Oeij, P.R.A.
From 26-28 August 2004 in Utrecht the Industrial Relations in Europe Conference (IREC) was held on governance issues in shifting industrial and employment relations. As part of the session 'potential and limits of national level socio-economic governance' this paper about the organization of
Harry Nixon Chabwela
Full Text Available Fisheries, wildlife and pastures are under massive pressure in the Kafue Flats, a wetland, which is one of the largest floodplains in Southern and Central Africa. This ecosystem which once harboured abundant common-pool resources and which was managed by local common property regimes is now being threatened with overexploitation. The last 30 years however, have witnessed severe pressure and overuse of these commons. A historical and institutional analysis of the situation of common-pool resources indicates that overuse of fisheries and the mismanagement of wildlife goes back to the erosion of traditional institutions by state governance. Institutional weakness resulting from economic decline in the country is of major concern as the institutions can no longer effectively enforce regulations in the area, a situation which has led to a de facto open access constellation for common-pool resources. The paper discusses three cases. The first is the WWF-Wetland Project and the Administrative Management Design (ADMADE initiative which was designed to deal with management of Lochinvar and Blue Lagoon National Parks and the adjacent Game Management Area through the involvement of local chiefs and local communities. The second case refers to the Partners for Wetlands Project, which included local people via their chiefs as well as the public and private sectors from large agricultural enterprises to the eastern side of the Kafue Flats (Mwanachinwala Conservation Area project in Mazabuka. However, both attempts yielded poor results due to misconceptions of traditional representation of local communities and misinterpretation of local economic and political incentives. Although the ADMADE programme appears to be a scaling up case, its implementation continues to receive considerable resistance from opposition leaders of chiefs and later by the chiefs themselves. In the third case, the paper examines the fishery constitutional process which had started in
The German Federal Minister for the Environment, Protection of Nature, and Reactor Safety instructed the Hesse State Minister for Economics and Technology to grant the applications filed by Alkem GmbH for a first partial permit of the construction and operation of a fuel element factory, and to grant it on the basis of a draft working document discussed between the two ministries. The new feature is the refusal of the Hesse State Minister to follow these instructions. This has given rise to a conflict between the State and Federal Governments. The article deals with one aspect of the multifaceted legal controversy, i.e., the question of the possibilities of legal relief open to a Federal State against an instruction under the Atomic Energy Act issued by the Federal Government. First, the rank of this instruction within the scope of administration on behalf of the Federal Government will be discussed. Next, the central problem of the preconditions under which an instruction may violate rights of a Federal State will be investigated. Finally, the possibilities of litigation will be briefly referred to. (orig./HP) [de
The diploma thesis deals with consumer's credit grants of banking and non-banking corporations and comparison of their service quality. The first part of research is dedicated to consumer's knowledge of credit issues. Second describes main difficulties of consumer's credit grants of banking and non-banking corporations and proves their use of unfair manners. The final part of thesis propose improvements, which will boost consumer's protection on field of consumer's credits.
Carlos Arturo Gómez Pavajeau
Full Text Available The Constitution of Colombia provides that certain senior officials, because of their position, should be investigated and tried by the Supreme Court (members of Congress or by the same Court upon indictment by the General Attorney (art. 235 n. 4. The Constitution provides that the President, the judges of the high courts and the prosecutor also have a special status, as the investigation and prosecution is allocated in the Senate, previous accusation in the House of Representatives, and in the Supreme Court for the common crimes. The criminal and disciplinary jurisdiction of investigation and prosecution has generated countless controversies at the doctrinal and jurisprudential level, related to the exclusive competence of the Prosecutor General’s Office and the judges of the Supreme Court to advance the investigation. In particular, the impossibility of delegating the commission of evidence and proceedings related to jurisdiction in such processes; the courts and their relationship with the position or function; the retention or recovery of competition by the criminal court room after renouncing the jurisdiction in the parapolitics processes; the notion tenure as a basis for criminal jurisdiction in the case of the governors in charge; a second hearing as a minimum guarantee derived from international standards on human rights and the issue related to jurisdiction and impunity on the subject of political or “impeachment” judgments.
Full Text Available A website is not just merely act as an object of displaying information, but it also represents a contextual medium of communication through visuals and contents. The interplay of website design elements builds up meanings that affect users beyond what previous communication practices have uncovered. Previous research acknowledges that visuals and contents have significant effects in attracting users’ attention and trust. Thus, the ability of a website to provide credible information through visuals and contents to target users is therefore plays great importance in the success of a website. However, although a considerable number of researches on website design have been performed, study in understanding the characteristics of site’s visual appearances and information contents for the purpose of promoting local investment in Indonesia has been very limited. This paper addresses visual design issues and information contents of eighteen provincial government websites of Indonesia. Through content analysis, the paper comparatively examines visual appearances, information contents, and functions of each website, in order to determine visual characteristics and contents that suit the purpose of promoting local potencies. The paper focuses on commonality, discrepancy, and pattern of contents, provide suggestions to improve the use of provincial government website design of Indonesia.
Eccles, Robert G; Youmans, Timothy John
This first of three papers in our series on materiality in credit ratings will examine the materiality of credit ratings from an “implied materiality” and governance disclosure perspective. In the second paper, we will explore the materiality of environmental, social, and governance (ESG) factors in credit ratings’ methodologies and introduce the concept of “layered materiality.” In the third paper, we will evaluate current and potential credit rating agency (CRA) business models based on our...
Full Text Available to the new and numerous challenges that the market requires. These challenges are economic, but not only. A continuous and steady development involves actually the need to go beyond the limits, not only in the case of traditional companies, but also of those in the start up phase. To be in a multilateral and global economic system - as the present one â€“ supposes a continuous upgrading of production technologies within companies, sometimes by undergoing serious reengineering processes. The updating of the company, however, cannot and should not be perceived as a simple and sudden initiative that is applied superficially just to conform to a market trend. It involves a certain difficulty, and especially the demand for new and ongoing investment in the sector of competence, therefore, it requires a careful process of analysis to relate multiple aspects of the company, including the availability of equity or the need to resort to foreign capital, such as to the bond market, to national or European facilitating tools or to foreign intervention of banking nature, on short or medium-long term, calibrating these interventions based on business needs. It is this delicate "step" in the life of a company - which requires a coherent, appropriate and stable organization of the governance of the company â€“ that we want to tackle within this paper, as well as its interaction with the banking system, which in our specific case is the Italian one, all these by a brief empirical analysis of the relationship that links corporate governance to the access to finances, in the current banking context.
Alberto García Müller
Full Text Available Public control is the activity of investigation or review by the government takes over a company, to verify the conformity of its actions to law. This paper analyzes the control over credit unions.
Kelly-Richards, Sarah; Silber-Coats, Noah; Crootof, Arica; Tecklin, David; Bauer, Carl
The transition to renewable energy technologies raises new and important governance questions. With small hydropower (SHP) expanding as part of renewable energy and climate mitigation strategies, this review assesses its impacts and identifies escalating policy issues. To provide a comprehensive literature review of small hydropower, we evaluated over 3600 articles and policy documents. This review identified four major concerns: (1) confusion in small hydropower definitions is convoluting scholarship and policy-making; (2) there is a lack of knowledge and acknowledgement of small hydropower’s social, environmental, and cumulative impacts; (3) small hydropower’s promotion as a climate mitigation strategy can negatively affect local communities, posing contradictions for climate change policy; and (4) institutional analysis is needed to facilitate renewable energy integration with existing environmental laws to ensure sustainable energy development. For readers interested in small hydropower, we clarify areas of confusion in definition and explain the corresponding impacts for distinct system designs. For a broader readership, we situate small hydropower implementation within international trends of renewable energy development – the contradictory impacts of climate change policy, emerging dynamics in energy finance, and reliance on market mechanisms. Our paper provides a timely contribution to scholarship on small hydropower and the transition to renewable energy. - Highlights: • Confusion in small hydropower definitions is convoluting small hydropower debates. • Small hydropower’s negative impacts are largely overlooked in policy discussions. • Small hydropower exemplifies paradoxical problems with climate change policy. • Policies needed to integrate renewable energy development with national environmental institutions.
US Agency for International Development — Credit Management System. Outsourced Internet-based application. CMS stores and processes data related to USAID credit programs. The system provides information...
Lake, W.H.; Thomas, D.A.; Doering, T.W.
This report covers progress in burnup credit activities that have occurred in the United States of America (USA) since the International Atomic Energy Agency's (IAEA's) Advisory Group Meeting (AGM) on Burnup Credit was convened in October 1997. The Proceeding of the AGM were issued in April 1998 (IAEA-TECDOC-1013, April 1998). The three applications of the use of burnup credit that are discussed in this report are spent fuel storage, spent fuel transportation, and spent fuel disposal. (author)
Ashlock, Tara; Rimal, Arbindra
The study analyzed the demand for farm credit in Missouri. Results suggested that financial leverage, government payments, occupation of farm operators, average farm acreages, value of land and buildings and types of farm operation had significant influence on farm credit usage. The study highlighted the potential for credit rationing.
Moulin, E.; Deroubaix, J.-F.
Despite a severe regulation concerning the building in flooding areas, 80% of these areas are already built in the Greater Paris (Paris, Val-de-Marne, Hauts-de-Seine and Seine-Saint-Denis). The land use in flooding area is presented as one of the main solutions to solve the ongoing real estate pressure. For instance some of the industrial wastelands located along the river are currently in redevelopment and residential buildings are planned. So landuse in the flooding areas is currently a key issue in the development of the Greater Paris area. Tools and measures, structural or non-structural such as warning systems, barriers, etc do exist and could be a smart way to improve the resilience of the new urbanised areas. The technical solutions are available and efficient, but we notice that these tools are not much implemented. There is a lack of flood risk concern among the stakeholders and the inhabitants1. How landuse stakeholders could integrate the flood risk in the decision making process throughout the implementation of the urban project? Which type of governance favours an efficient development of good flood risk policy including prevention, protection and the management of the crisis? What is the "good" governance of the urban project e.g. enabling to take into account or not to forget the flood risk and to empower the (future) inhabitants? This inhabitants' empowerment includes the improvement of awareness (i.e. inhabitants being aware that they live in a flooded area) and the improvement of concern (i.e. inhabitants adopting the "right" behaviour when the risk occurs). In order to investigate how flood risk is or could be integrated in the project governance, we interviewed stakeholders (elected representatives, architects, property developers, etc.) and observed the integration or the vanishing of the risk throughout the project. In order to develop this topic we rely on a case study. The "Ardoines" is a project aiming at redeveloping an industrial site
Clanton, Brandolyn; And Others
Intended for teachers of secondary school students, five lessons on consumer credit are presented. In the first lesson students identify and evaluate sources of credit, compare some of the costs and benefits of credit, and learn to apply criteria used in evaluating applications for credit. In the second lesson, students learn about two basic types…
Congressional Budget Office
In 1975, the first refundable tax credit—the earned income tax credit (EITC)—took effect. Since then, the number and cost of refundable tax credits—credits that can result in net payments from the government—have grown considerably. Those credits will cost $149 billion in 2013, CBO estimates, mostly for the EITC and the child tax credit.
purposes of the National Credit Act; what the definition of a credit guarantee set out ...... Scholtz et al National Credit Act in para 8.2.4; Scott et al Law of Commerce ..... Eitelberg E "Autonomy of Documentary Credit Undertakings in South African.
... the Government contractor-issued travel charge card change the employee's obligation to pay his/her travel card bill by the due date? 301-71.214 Section 301-71.214 Public Contracts and Property Management Federal Travel Regulation System TEMPORARY DUTY (TDY) TRAVEL ALLOWANCES AGENCY RESPONSIBILITIES 71-AGENCY...
... interviewee to use individual Government contractor-issued charge cards for pre-employment interview travel? 301-75.201 Section 301-75.201 Public Contracts and Property Management Federal Travel Regulation System TEMPORARY DUTY (TDY) TRAVEL ALLOWANCES AGENCY RESPONSIBILITIES 75-PRE-EMPLOYMENT INTERVIEW TRAVEL...
Ashcraft, A.; Goldsmith-Pinkham, P.; Vickery, J.
We study credit ratings on subprime and Alt-A mortgage-backed securities (MBS) deals issued between 2001 and 2007, the period leading up to the subprime crisis. The fraction of highly-rated securities in each deal is decreasing in mortgage credit risk (measured either ex-ante or ex-post), suggesting
International Committee on Credit Reporting
The general principles for credit reporting were issued by the World Bank in September 2011. Since then, the World Bank and the international committee on credit reporting (ICCR) have been leading efforts towards the implementation of the general principles worldwide. This report is one of the concrete outputs of the work following the general principles. It addresses one of the most signi...
Noluthando Shirley Matsiliza
Full Text Available This article assesses the extent to which state owned enterprises (SOE have complied with corporate governance codes, as recommended by King III in South Africa. Corporate governance in the post-apartheid era has changed irrevocably. The development path which is the agenda to transform state owned enterprises has been a trial and error (trend in South Africa. This paper argues that the South African State Owned Enterprises (SOEs have applied the King III principles of corporate governance, while grappling with structural changes that impact in their practice regarding their organisational performance on risk and corporate governance. Along with regulatory measures on corporate governance, the SOEs are looking at strategies to translate the concept of corporate governance into practical solutions that involve stakeholders and government support. Using a qualitative approach, this theoretical paper employed document analysis for data collection and analysis. This paper calls for more risk intelligent management of agencies so that future opportunities and threats are recognized and addressed promptly and effectively. The value of this paper is based on its contribution to the existing knowledge area on corporate governance and leadership
Nunes, Miguel Baptista; McPherson, Maggie; Whiteside, Amy
This paper focuses on aspects of e-government with emphasis on how local authorities are coping with the transition into the Information Society. E-government is reviewed in the flight of such topics as a social inclusion, security and e-democracy. The challenge has been set in the United Kingdom for local authorities to deliver 100% of services…
Carpenter, Dave; Haugh, Richard
Volume is rising at a healthy pact. Technology is improving patient care. Many organizations have, out of necessity, strengthened business fundamentals, controlled costs and refined their focus. Yet not-for-profit hospitals are squeezed by a cash crunch that has balance sheets under pressure and credit downgrades outpacing upgrades--the result of shrinking investment income, rising pension obligations, low government reimbursement and other threats to operational stability. N&HN looks at the challenges, including recent fallout from the most pressing issues, how some systems have responded, and the pros and cons of borrowing now.
... marketing activities, and to farm-related businesses. The Farm Credit banks collectively issue debt... institutions. The four farm credit banks, one agricultural credit bank (hereinafter collectively referred to as the Farm Credit banks), and their direct lender associations (the Agricultural Credit Associations...
Full Text Available Lending money to different borrowers is profitable, but risky. The profits come from the interest rate and the fees earned on the loans. Banks do not want to make loans to borrowers who cannot repay them. Even if the banks do not intend to make bad loans, over time, some of them can become bad. For instance, as a result of the recent financial crisis, the capability of many borrowers to repay their loans were affected, many of them being on default. That’s why is important for the bank to monitor the loans. The purpose of this paper is to focus on credit scoring main issues. As a consequence of this, we presented in this paper the scoring model of an important Romanian Bank. Based on this credit scoring model and taking into account the last lending requirements of the National Bank of Romania, we developed an assessment tool, in Excel, for retail loans which is presented in the case study.
Barslund, Mikkel Christoffer; Tarp, Finn
This paper uses a survey of 932 rural households to uncover how the rural credit market operates in four provinces of Vietnam. Households obtain credit through formal and informal lenders, but formal loans are almost entirely for production and asset accumulation. Interest rates fell from 1997...... to 2002, reflecting increased market integration; but the determinants of formal and informal credit demand are distinct. Credit rationing depends on education and credit history, but we find no evidence of a bias against women. Regional differences are striking, and a ‘one size fits all’ approach...... to credit policy is clearly inappropriate....
Baud, I.; Scott, D.; Pfeffer, K.; Sydenstricker-Neto, J.; Denis, E.
The main question concerns the ways in which knowledge management configurations (KM) within urban governance are being transformed through digitization and spatializing information (GIS). This question fits into broader discussions on how knowledge construction, circulation and utilization can
Schwarz, Anita M.
Schwarz surveys U.S. experience with directed credit as background for a larger study of the Asian experience. Almost half of net credit lent in the United States annually is directly affected by government policies - half of net credit covering budget deficits, and half falling under various federal credit programs. The main difference between U.S. and Asian credit policy is that U.S. credit policy is oriented more toward equity than toward growth. Different sectors are affected differently ...
Yanni Li; Dan Cui; Wenxuan Zhao; Jiayin Li; Fuguang Zhao
Food security has become a big issue in China for some big incidents occurred in recent years. happened. This study has a survey on these cases and analyzes the reasons from the aspect of enterprises and government. Some solutions are put forward to solve the problems about food security and business credit crisis in China currently. The purpose is to guide enterprises to set up a sound operation system and gain long-term profits.
Servatka, Maros; Theocharides, George
This classroom experiment introduces students to the notion of credit risk and expected return, by allowing them to trade on comparable corporate bond issues from two types of markets: investment-grade and high-yield markets. Investment-grade issues have a lower probability of default than high-yield issues and thus provide a lower yield.…
Describes an activity in which students design credit cards and discover for themselves the mathematical realities of buying on credit. Employs multiple-intelligence theory to increase the chance that all students will be reached. (YDS)
Department of Homeland Security — The National Credit Union Administration (NCUA) is the independent federal agency that charters and supervises federal credit unions. NCUA, backed of the full faith...
Author: Anup G.C. Year: 2013 Subject of thesis: Credit Card Security Number of pages: 36+2 Credit Card is a widely used electronic chip for easy transactions. The main purpose of the report was to show the security measures of transaction by credit cards. The purpose was to give information about credit cards and how they were introduced. The thesis reportcontained the types of card theft with examples and sited the various protocols used for online ...
Balasubramanyan, Lakshmi; Craig, Ben R.; Thomson, James B.; Zaman, Saeed
We examine how a combination of credit market and asset quality information can jointly be used in assessing bank franchise value. We find that expectations of future credit demand and future asset quality explain contemporaneous bank franchise value, indicative of the feedback in credit market information and its consequent impact on bank franchise value.
We propose an evolutionary model of a credit market. We show that the economy exhibits credit cycles. The model predicts dynamics which are consistent with some evidence about the Great Depression. Real shocks trigger episodes of credit--crunch which are observed in the process of adjustment towards the post shock equilibrium.
Full Text Available Nowadays it is essential to modernize credit relations in the conditions of global economy transformations. This is due to the influence of integration processes on credit relations and transformation of the risks inherent in the credit field. The purpose of this article is to develop measures that help to improve the efficiency of interaction of credit relations’ participants. Modernization of credit relations is based on the interaction of its main and indirect subjects who belong to the subsystems of loans granting, deposits attraction and provision of related services. Its goal is to pass from extensive to intensive model of interaction between the subjects of credit relations. Components of the credit relations modernization are the following: institutional modernization, which is based on the interaction of credit relations’ subjects, and ensures the development of competition in all credit market’s segments, the creation of its corresponding infrastructure, qualitative change in the approaches of regulation and supervision; technological modernization, which involves the formation of joint products on the credit market and the formation of an integrated informational and analytical system. In the result of the credit relations’ modernization it is expected to achieve synergies between the subjects of credit relations, that will lead to changes in the business architecture of the financial market.
Ahmet Faruk Aysan; L. Yildiz
The rapid growth in Turkish credit card market brought together new issues. Card holders and consumer unions complain about the high interest rates, economists complain about the default rates and banks complain about the amnesties. After all of these complaints coinciding with the accelerating suicide incidences due to credit card debts, regulation has been enacted in the credit card market in Turkey. In 2003, credit cards had been taken into the scope of the Consumer Protection Law. This wa...
Jackie Krafft; Jacques-Laurent Ravix
International audience; Corporate governance is certainly one of the most prolific fields of research today. Even if the origins of this domain trace back to the early 1930s, the recent decades have been marked by an explosion in the number of contributions in academic journals. This effervescence in the academic world has had important echoes in business life that are analysed in the present contribution.
@@ Introduction The current government advances that the order of market economy should be standardized and the social credit system of market economy in modern times should be established and completed. The social credit system should be formed on the basis of property right, supported by moral and high consciousness of social credit. Therefore, the basic framework and operation mechanism of the standards system for social credit will be established in 5 years in China in order to make standards play an important role in a regular market and the aspect of credit management, to improve administration's compliance with the regulation, and to facilitate the market economic order.
Full Text Available European countries, especially urban areas, face increasing flood risks due to urbanization, increase of exposure and damage potential, and the effects of climate change. In literature and in practice, it is argued that a diversification of Flood Risk Management Strategies (FRMSs makes countries more flood resilient. The latter requires innovations in existing Flood Risk Governance Arrangements, development of new arrangements and the coordination of these arrangements, but it also requires these arrangements to be tailored to their physical and institutional context. Within the EU FP7 project STAR-FLOOD (2012-2016, a comparative analysis and evaluation of flood risk governance in Belgium, England, France, The Netherlands, Poland and Sweden has been conducted. The project identified at least seven key issues that are relevant for all researched countries (and probably also beyond. These key issues deal with the topics of (i diversifying Flood Risk Management Strategies (ii establishing connectivity between actors, levels and sectors through what we coin “bridging mechanisms” (iii achieving coproduction between public and private actors; (iv improving fragmented and often non-enforceable rule systems; (v optimising available resources for FRM; (vi operationalising the notion of “diversification of FRM strategies” in a country-specific way; (vii follow general design principles for improving FRM that are sufficiently tailored to local circumstances. Drawing on all project deliverables, this paper will briefly review each key issue, discuss salient similarities and differences between the countries and point at ways forward.
Data quality is a strategic matter in the context of e-government as the integration of services requires authentic, coherent, and reliable data. However, establishing databases that are devoid of duplication, redundancy, or ambiguity isn't simple either in theory or in practice. In the context of e-government, this problem has been neglected for too long, particularly because administrative databases have often been wrongly regarded as “simple.” We demonstrate in this chapter that this is not the case at all, in particular because of the questions of interpretation that they raise. This chapter is based on case studies stemming from the Belgian federal administration (social security, business directories, federal authentic sources, etc.). Contrary to the assertions of common theories postulating a permanent bijective relationship between data and the corresponding reality, we argue that an empirical information system evolves over time along with the interpretation of the values that it allows one to determine. To address data quality, we propose a temporal framework that provides new operational strategies to improve administrative data quality (mainly, new ways to define quality indicators for continuous monitoring and re-engineering strategies). We finally demonstrate how our approach is generally applicable in the context of empirical information systems.
Daniel S. Katz
Full Text Available Science and engineering research increasingly relies on activities that facilitate research but are not currently rewarded or recognized, such as: data sharing; developing common data resources, software and methodologies; and annotating data and publications. To promote and advance these activities, we must develop mechanisms for assigning credit, facilitate the appropriate attribution of research outcomes, devise incentives for activities that facilitate research, and allocate funds to maximize return on investment. In this article, we focus on addressing the issue of assigning credit for both direct and indirect contributions, specifically by using JSON-LD to implement a prototype transitive credit system.
Bank for International Settlements
Executive summary Techniques for transferring credit risk, such as financial guarantees and credit insurance, have been a long-standing feature of financial markets. In the past few years, however, the range of credit risk transfer (CRT) instruments and the circumstances in which they are used have widened considerably. A number of factors have contributed to this growth, including: greater focus by banks and other financial institutions on risk management; a more rigorous approach to risk/re...
Full Text Available Credit risk is the most important risk banks have to face with. It occurs due to an obligation created because of debtors' capital and interest rate nonpayment. Debtors obligations non-fulfilment may lead to great losses and insolvency in bank's business. Credit risk is the crucial reason of bank's insolvency. Over 80% of bank's balance sheet is exposed to credit risk.
Bruder, Benjamin; Hereil, Pierre; Roncalli, Thierry
With the recent development of the European debt crisis, traditional index bond management has been severely called into question. We focus here on the risk issues raised by the classical market-capitalization weighting scheme. We propose an approach to properly measure sovereign credit risk in a fixed-income portfolio. For that, we assume that CDS spreads follow a SABR process and we derive a sovereign credit risk measure based on CDS spreads and duration of portfolio bonds. We then consider...
Murray, Vicki E.
In 2009, the "East Valley Tribune and the Arizona Republic" alleged that Arizona's individual income tax-credit scholarship program disproportionately serves privileged students from higher-income families over those from lower-income backgrounds. Yet neither paper collected the student-level, scholarship recipient family income data…
Hladkykh Dmytro M.
Full Text Available The aim of the article is to study the factors of negative dynamics of corporate crediting in Ukraine and justify proposals for further actions of the state in the direction of activating corporate crediting. The actions of the state in the field of activation of corporate crediting in Ukraine should include the steps mentioned below. As part of the overall rehabilitation and recovery of the economy – actions aimed at de-shadowization of the economy; restoration of foreign exchange earnings from exports; stimulation of timely return of the currency of exporters to the country. Within the framework of resolution of the bank’s non-performing corporate credit portfolio – establishment of a state company for the management of either distressed assets or a single remedial bank that is to accumulate non-performing credits. Within the framework of rehabilitation and post-crisis recovery of the banking system — completion of the procedure for removing problem banks from the market; bringing the capital adequacy ratio of the banking system in line with the requirements of Basel III; creation of a mechanism for structural refinancing, introduction of new instruments to stimulate bank crediting of enterprises in the real economy, etc. Within the framework of minimizing the current high level of inflation, which hinders the activation of corporate crediting – gradual decrease in the discount rate; ensuring a positive level of NBU interest rates relative to the forecasted core inflation; further accumulation of international reserves, etc. Within the framework of minimizing the budget deficit and limiting the issue of government bonds and deposit certificates of the NBU as instruments that divert banks’ credit resources from corporate lending – reducing the state budget deficit; decrease in banks' demand for government securities by reducing their profitability.
The paper describes burnup credit activities being conducted in the U.S. where burnup credit is either being used or being planned to be used for storage, transport, and disposal of spent nuclear fuel. Currently approved uses of burnup credit are for wet storage of PWR fuel. For dry storage of spent PWR fuel, burnup credit is used to supplement a principle of moderator exclusion. These storage applications have been pursued by the private sector. The Department of Energy (DOE) which is an organization of the U.S. Federal government is seeking approval for burnup credit for transport and disposal applications. For transport of spent fuel, regulatory review of an actinide-only PWR burnup credit method is now being conducted. A request by DOE for regulatory review of actinide and fission product burnup credit for disposal of spent BWR and PWR fuel is scheduled to occur in 1998. (author)
... buildings, without charge for rent or services, to any credit union organized under State law or to any... that, in either case, that 95 percent of the membership is composed of Federal employees, including former Federal employees who acquire membership while employed by the Federal Government and retained...
Zamore, Stephen; Ohene Djan, Kwame; Alon, Ilan
This article provides a comprehensive review of scholarly research on credit risk measurement during the last 57 years applying bibliometric citation analysis and elaborates an agenda for future research. The bibliography is compiled using the Institute for Scientific Information (ISI) Web...... of Science (WOS) database and includes all articles with citations over the period 1960–2016. Specifically, the review is carried out using 1695 articles across 72 countries published in 442 journals by 2928 authors. The findings suggest that credit risk research is multifaceted and can be classified...... into six streams: (1) defaultable security pricing, (2) default intensity modeling, (3) comparative analysis of credit models, (4) comparative analysis of credit markets, (5) credit default swap (CDS) pricing, and (6) loan loss provisions. The article contributes through synthesizing and identifying...
Natalya P. Anoshkina
Full Text Available The paper is devoted to the problem of credit loss management topical for modern Russian science and banking practice. The bank’s lending activity is an integral and the most profitable sphere of banking activity. Banks need to take credit risks inherent in their core business and minimize their impact through the establishment of advanced risk management systems. The study, reflected in the present paper, has been conducted in order to determine approaches to the organization of credit loss management in banking. Analysis of the system of management of credit risks and credit losses has shown that they have different scope, object and purpose. In this connection, there is an objective necessity to create a special subsystem for the management of credit losses in banks. On the basis of common bank approaches to credit risk management, the paper develops models of credit loss management: a multi-level management model in the area of ‘operational-tactical-strategic management’ and a functional management model in the area of ‘technology-execution-control’. These models are important for the modern theory and practice of banking, as they allow the bank to manage credit losses on the entire time horizon of the management process, thus opening a wide range of opportunities for the creation and implementation of large-scale programs, as well as specific techniques. This study allows drawing a conclusion about the need to consider control credit losses as a strictly regulated multi-level process, in which each division is assigned with specific objectives, tasks, functions, formally enshrined in the relevant lists, job descriptions and other legal documents.
The application of burnup credit to storage and transportation cask licensing results in a significant improvement in cask capacity and an associated reduction of the cost per kilogram of uranium in the cask contents. The issues for licensing with burnup credit deal primarily with the treatment of fission product poisons and methods of verification of burnup during cask operations. Other issues include benchmarking of cross-section sets and codes and the effect of spatial variation of burnup within an assembly. The licensing of burnup credit for casks will be complex, although the criticality calculations are not themselves difficult. Attention should be directed to the use of fission product poisons and the uncertainties that they introduce. Verification of burnup by measurements will remove some of the concerns for criticality safety. Calculations for burnup credit casks should consider rod-to-rod and axial variations of burnup, as well as variability of burnable poisons it they are used in the assembly. In spite of the complexity of cask burnup credit licensing issues, these issues appear to be resolvable within the current state of the art of criticality safety
Full Text Available Opinions of the regional accounting chambers on the possibility of repayment of the credit, loan or redemption of the securities by local government units have some specific features compared with the other opinions concerning the financial management of the local government. Firstly, they are only issued at the request of the unit that they concerned. Secondly, for the reason they relate to public debt issues, to some extent their content may be similar or “partial reproduction” of the standpoint of the regional chamber of accounting within already issued opinions referring to acts on budgetary planning process in local government units. The purpose of this article is to assess the legitimacy of issuing such opinions and to identify the relationship between the ordinances (resolutions on the possibility of repayment of the credit, loan or redemption of the securities and provisions of local government budget.
.... This goes a long way toward improving and streamlining the contracting process. One of the key reform initiatives in streamlining the process is the implementation of the Government-wide credit card program...
Full Text Available Information asymmetry defines relationships where an agent holds information while another does not hold it. Thus, to the extent that one of the parties to the financing agreement has information more or less accurate than another, the asymmetry of information appears to be a major constraint in the financing of a project. Banks, in their capacity of financial intermediary, operate the transfer of funds to agents in need of financing, to the borrowers, being necessary in this process to have more information in order to benefit of expertise in assessing borrowers. The research of information asymmetry and credit risk consists of interrogating the following aspects: information issues between the bank and borrowers; settlement of information issues; bank’s activism towards information asymmetry. In our approach we will look at the first aspect, namely the information issues between the bank and the borrowers.
Mauricio Palmada Fernandes
Full Text Available Given the growth of securitization through Credit Receivables Investment Funds (Fundos de Investimento em Direitos Creditórios - FIDCs in Brazil in recent years, this work aims to investigate empirically the relationship between securitization and credit rating in the Brazilian market. All issues of FIDCs held by banks and registered in the CVM from 2005 to July 2010 were analyzed. The two hypotheses discussed by Gorton and Souleles (2005 were confirmed to Brazilian financial institutions. There is evidence of an implied contract between the transferor companies and investors in securitizations made via FIDCs. Companies with higher credit risk, worst ratings, tend to securitize more. However no relationship was found between securitization and asset value, amount of loans or capital ratio.
Deregulation of the electric power industry has the potential to put power businesses at market risk particularly when the value of an asset or liability will change with market movements. Market risk gives rise to credit risk where a contract cannot be fulfilled. This presentation describes how credit risks can be identified and measured. Most practitioners use some variant of value-at-risk (VAR) technology for measuring market risk. Under this approach, risk is determined by the volatility implied by the market. Volatility of electricity prices and natural gas prices has increased significantly in Alberta in recent years. The consequence is an increase in both market and credit risk. The author described the difference between the two risks and their significance. An overview of credit risk management with derivatives, an over-the counter contract, was also presented. The author also discusses issue of protection buyers in the event of a failed contract. 9 figs
The present paper is an answer to the question, how did trust and credit emerge. The systems of trust and credit reduce the environmental and contextual complexities in which trust and credit are embedded. The paper analyses the forms of this reduction in a number of stages in the evolution...... of history from the present risk of modern systems back to early modernity, the Reformation and the high medieval Revolutions in law, organization and theology. It is not a history of economics, but a history of the conditions of some communication codes used in economic systems....
Credit risk is today one of the most intensely studied topics in quantitative finance. This book provides an introduction and overview for readers who seek an up-to-date reference to the central problems of the field and to the tools currently used to analyze them. The book is aimed at researchers...... and students in finance, at quantitative analysts in banks and other financial institutions, and at regulators interested in the modeling aspects of credit risk. David Lando considers the two broad approaches to credit risk analysis: that based on classical option pricing models on the one hand...
The subject of this diploma thesis is managing credit risk in banks, as the most significant risk faced by banks. The aim of this work is to define the basic techniques, tools and methods that are used by banks to manage credit risk. The first part of this work focuses on defining these procedures and describes the entire process of credit risk management, from the definition of credit risk, describing credit strategy and policy, organizational structure, defining the most used credit risk mi...
Credit Derivatives are securities that offer protection against credit or default risk of bonds or loans. The credit derivatives emerging market has grown rapidly and credit derivatives are widely used. This paper describes the emerging credit derivatives market structure. The current market activity is analyzed through elementary pricing dynamics and the study of the term structure of default risk. Focusing on the performance of credit derivatives in stress situation, including legal and mar...
Friis Pedersen, Michael; Vesterlund Olsen, Jakob
have important implications for risk management practice, investment and technology adoption and related policy issues. The method is limited by the possibility of strategic behavior of lenders during credit cycle busts. In credit cycle booms, the method gives a good basis for the estimates of change...... in credit reserves. Practical implications: In a period of increasing credit reserves, risk management institutions are unlikely to develop. Like agricultural policy, access to credit may crowd out market-based risk management. Originality/value: The study represents a novel application and interpretation......Purpose:The purpose of this paper is to introduce a novel measure of access to credit suited to estimate the relative change in credit reserves. Design/methodology/approach: A debt possibility frontier is estimated using data envelopment analysis and the Malmquist index is calculated. The Malmquist...
Conde, J.M.; Recio, M.
The status of development of burnup credit for criticality safety analyses in Spain is described in this paper. Ongoing activities in the country in this field, both national and international, are resumed. Burnup credit is currently being applied to wet storage of PWR fuel, and credit to integral burnable absorbers is given for BWR fuel storage. It is envisaged to apply burnup credit techniques to the new generation of transport casks now in the design phase. The analysis methodologies submitted for the analyses of PWR and BWR fuel wet storage are outlined. Analytical activities in the country are described, as well as international collaborations in this field. Perspectives for future research and development of new applications are finally resumed. (author)
Full Text Available The use of credit cards for payment in lieu of cash since the introduction of the first credit card ever more widely known and used by people. On the early introduction of this credit card, the wearer is limited to certain circles. However, a few decades later the credit card industry primarily enter the end of the Decade of the 1970s, has penetrated almost throughout all parts of the world, including Indonesia. A credit card is issued by most commonly used by the public and apply the current International consists of a range of brands, among others, a very popular one is Visa and Master Card are each issued by the credit card company international and Master Card International.In practice many found the works in banking that may be subject to sanctions as set forth in the book of the law of criminal law (Criminal Code.
Full Text Available Purpose of the article: The paper identifies the core dilemmas over the establishment of the credit policy in a company. It considers the general scope and basic stages of credit policy management and analyses each stage of credit policy in terms of decisive aspects. The main areas of concerns are discussed within the settlement of credit policy and its implementation with regard to the model of optimal credit policy. Scientific aim: The paper aims at constructing a unified model of issues rising dilemmas while setting and implementing the credit policy management. It also aims at identifying core decisive problems in each of these fields and at providing a structured questions framework. Methodology/methods: The paper is based on conceptual analysis and deduction of the literature and general review of issues related to credit policy management. It containts autors’ own view on the problems included in each stage of credit policy management. Findings: Credit policy management is a subject for numerous dilemmas. The main areas of concerns are related to: the decision about the goal of credit policy managemet with regard to its restrictiveness, the settlement of credit policy with regard to elements of credit policy, and finally the implementation with regard to the risk of bad debts occurrence. Conclusions: (limits, implications etc The establishment of credit policy in a company requires to balance contrary interests and thus involves wide variety of issues to be considered. The presented model of decisive problems might be applied in each company regardless to their size.
Oreska, Matthew P. J.; McGlathery, Karen J.; Emmer, Igino M.; Needelman, Brian A.; Emmett-Mattox, Stephen; Crooks, Stephen; Megonigal, J. Patrick; Myers, Doug
In their recent review, ‘Geoengineering with seagrasses: is credit due where credit is given?,’ Johannessen and Macdonald (2016) invoke the prospect of carbon offset-credit over-allocation by the Verified Carbon Standard as a pretense for their concerns about published seagrass carbon burial rate and global stock estimates. Johannessen and Macdonald (2016) suggest that projects seeking offset-credits under the Verified Carbon Standard methodology VM0033: Methodology for Tidal Wetland and Seagrass Restoration will overestimate long-term (100 yr) sediment organic carbon (SOC) storage because issues affecting carbon burial rates bias storage estimates. These issues warrant serious consideration by the seagrass research community; however, VM0033 does not refer to seagrass SOC ‘burial rates’ or ‘storage.’ Projects seeking credits under VM0033 must document greenhouse gas emission reductions over time, relative to a baseline scenario, in order to receive credits. Projects must also monitor changes in carbon pools, including SOC, to confirm that observed benefits are maintained over time. However, VM0033 allows projects to conservatively underestimate project benefits by citing default values for specific accounting parameters, including CO2 emissions reductions. We therefore acknowledge that carbon crediting methodologies such as VM0033 are sensitive to the quality of the seagrass literature, particularly when permitted default factors are based in part on seagrass burial rates. Literature-derived values should be evaluated based on the concerns raised by Johannessen and Macdonald (2016), but these issues should not lead to credit over-allocation in practice, provided VM0033 is rigorously followed. These issues may, however, affect the feasibility of particular seagrass offset projects.
customers . The president of Fuji Bank admitted recently that fear of bad debts had kept banks from vigorously exploiting the consumer market. He called...a lower income, working class shopper to a younger, credit-using customer . In early 1988, Marui had issued 9.6 million credit cards. 16 Its annual...the young consumer . In 1986, 83 percent of sales were to customers in their twenties.’ 7 With nearly 70 percent of its sales made on credit, interest
The article presents issues deserving special attention in the area of auditing the financial statements of credit institution. Without a doubt, these are the financial instruments, including credit exposures. To properly audit these instruments it is required to verify the accuracy of the valuation. Such verification in the case of credit exposures is preceded by appropriate category qualification followed by impairment write-off determined considering the established security. T...
N.C. Poudyal; J.M. Bowker; J.P. Siry
Marketing carbon offset credits generated by urban forest projects could help cities and local governments achieve their financial self-sufficiency and environmental sustainability goals. Understanding the value of carbon credits sourced from urban forests, and the factors that determine buyersâ willingness to pay a premium for such credits could benefit cities in...
The study discusses the economic implication of the main axioms that govern the consumer credit in an Islamic framework. It derives the demand function for consumer credit, using the Murabaha modes. A simple econometric model is built to estimate the demand for credit in an Islamic setting.
Trude, S; Ginsburg, P B
Bipartisan interest is growing in Congress for using federal tax credits to help low-income families buy health insurance. Regardless of the approach taken, tax credit policies must address risk selection issues to ensure coverage for the chronically ill. Proposals that link tax credits to purchasing pools would avoid risk selection by grouping risks similar to the way large employers do. Voluntary purchasing pools have had only limited success, however. This Issue Brief discusses linking tax credits to purchasing pools. It uses information from the Center for Studying Health System Change's (HSC) site visits to 12 communities as well as other research to assess the role of purchasing pools nationwide and the key issues and implications of linking tax credits and pools.
Frandsen, Anne Kathrine; Bertelsen, Niels Haldor; Haugbølle, Kim
During the past two years the Nordic Baltic research project CREDIT (Construction and Real Estate – Developing Indicators for Transparency) has worked with the aim to improve transparency of value creation in building and real estate. One of the central deliverables of the CREDIT project was a fr......During the past two years the Nordic Baltic research project CREDIT (Construction and Real Estate – Developing Indicators for Transparency) has worked with the aim to improve transparency of value creation in building and real estate. One of the central deliverables of the CREDIT project...... was a framework of indicators relevant in building and real estate and applicable in the Nordic and Baltic countries as well as a proposal for a set of key indicators. The study resulting in CREDIT Performance Indicator Framework has been based on 28 case studies of evaluation practises in the building and real...... estate sector each addressing three interlinked levels: building/ projects level, company or enterprise level and benchmarking system level. Additionally it has been based on dialogue with researchers and professional organisation, international research and standardisation work and national building...
Macdonald, S A; Wells, S L; Giesbrecht, N; West, P M
In 1994, regulatory changes were introduced in Ontario, Canada, permitting the purchase of alcoholic beverages with credit cards at government-operated liquor stores. Two objectives of this study were: (1) to compare the characteristics of credit card shoppers with non credit card shoppers at liquor stores, and (2) to assess whether changes occurred in alcohol consumption patterns among shoppers following the introduction of credit cards. Random digit dialing was used to interview 2,039 telephone participants prior to the introduction of credit cards (Time 1); 1,401 of these subjects were contacted 1 year later (Time 2). Independent sample t tests were used to compare credit card shoppers with shoppers not using credit cards, and paired t tests were performed to assess whether drinking behaviors changed from Time 1 to Time 2. The credit card shoppers were more likely than the non credit card shoppers to be highly educated (p Credit card shoppers drank an average of 6.3 drinks over the previous week compared with 4.0 drinks among non credit card shoppers (p credit card shoppers dropped from 6.7 drinks at Time 1 to 6.3 at Time 2 (NS), credit card shoppers reported drinking significantly more often after credit cards were introduced (p credit cards may not present public health problems since significant increases in alcohol consumption among credit card shoppers were not found.
In recent years, a credit recognition system has been developing in Chinese higher education institutions. Much research has been done on this development, but it has been concentrated on system building, barriers/issues and international practices. The relationship between credit recognition system reforms and democratisation of higher education…
... final rule with request for comments. SUMMARY: NCUA is issuing final amendments to revise the definition... Credit Union Share Insurance Fund (NCUSIF) share insurance to nonfederal share insurance in 12 CFR part...-credit union mergers and terminations of NCUSIF share insurance and conversions from NCUSIF share...
Ralph, Lisa M.
Access to consumer credit as a means of building wealth is one of the least examined forms of social inequality. The recent economic crisis in the United States has brought attention to the significance of consumer credit in our nation's economy; however, less understood are the specific obstacles and barriers that prevent low-income individuals from reaching the "American Dream." In an exploratory manner, this study compared credit access, credit literacy, and credit experience of low-income...
Michael S. Gibson
The striking growth of credit derivatives suggests that market participants find them to be useful tools for risk management. I illustrate the value of credit derivatives with three examples. A commercial bank can use credit derivatives to manage the risk of its loan portfolio. An investment bank can use credit derivatives to manage the risks it incurs when underwriting securities. An investor, such as an insurance company, asset manager, or hedge fund, can use credit derivatives to align its...
Credit risk is defined as that risk of financial loss caused by failure by the counterparty. According to statistics, for financial institutions, credit risk is much important than market risk, reduced diversification of the credit risk is the main cause of bank failures. Just recently, the banking industry began to measure credit risk in the context of a portfolio along with the development of risk management started with models value at risk (VAR). Once measured, credit risk can be diversif...
Full Text Available This study seeks to examine the impact of Block Ownership structure on Credit Ratings in OECD countries. This research seeks to contribute to the extant literature by exploring the effects of Corporate Governance (CG mechanisms on corporate credit ratings. The study uses a panel data of 200 companies from Anglo American and European countries between 2010 and 2014. The ordinary least square regression is used to examine the relationships. Additionally, to alleviate the concern of potential endogeneity, we use fixed effect regression, two-stage least squares using instrumental variables. The results show there is a negative and significant relationship between block ownership and credit ratings, with a greater significance among Anglo American countries than among European countries. The rationale for this is that Anglo-American system gives preferential treatment to individual shareholders and its accounting tradition leads to a decline in risk and increase in credit ratings. The result is consistent with the multi-theoretical framework predictions derived from the agency and stewardship theories. Future research could investigate credit ratings using other credit rating agencies, selecting a larger sample that includes small, mid-size and large companies. This paper extends, as well as contributes to extant CG literature by offering new evidence on the effect of block ownership on credit ratings between two different traditions. This will be explored by employing firm-level CG mechanisms by accounting for control variables. The findings will help regulators and policymakers in OECD countries in evaluating the adequacy of current CG reforms to prevent management misconduct and scandals.
Full Text Available The article presents issues deserving special attention in the area of auditing the financial statements of credit institution. Without a doubt, these are the financial instruments, including credit exposures. To properly audit these instruments it is required to verify the accuracy of the valuation. Such verification in the case of credit exposures is preceded by appropriate category qualification followed by impairment write-off determined considering the established security. Thus, the audit process is complex and requires assessment by the auditor of exogenous and endogenous factors affecting the operation of credit institutions.
Wareham, T L
Not-for-profit healthcare organizations are experiencing a tightened credit market due to financial stresses on the healthcare industry such as declining payments, effects of the Balanced Budget Act of 1997, and the shift to outpatient care. In the future, healthcare organizations wanting to access the capital market will be expected to preserve cash as an "insurance policy," offer greater security and stricter covenants, and report financial information on a quarterly basis. To meet these requirements and navigate today's tighter credit market, healthcare financial managers will need to focus on the organization's most reliably profitable areas of business, link strategic and financial issues, and carefully monitor the balance sheet.
Clarke, Daniel; Mahul, Olivier
This paper aims to assist policy makers interested in establishing or strengthening financial strategies to increase the financial response capacity of developing country governments in the aftermath of natural disasters, while protecting their long-term fiscal balance. Contingent credit is shown to increase the ability of governments to self-insure by relaxing their short-term liquidity c...
Lenderman, Ed; And Others
Following a review of the mathematics topics taught in accounting, electronics, auto, food and clothing, and metals courses at Linn-Benton Community College, Albany, Oregon, recommendations were made to grant one semester of mathematics credit for completing a two-year sequence of these courses. The other required semester of mathematics should be…
F.M. van Oers; R.A. de Mooij (Ruud)
textabstractIn recent policy discussions in the Netherlands, the Earned Income Tax Credit (EITC) has been put forward as an effective instrument to reduce the unemployment rate among low-skilled workers. Using the MIMIC model, this article shows that a targeted EITC at low incomes indeed seems
This article examines the effect of tax credits and related legislation under consideration by Congress on the economics of the renewable energy industry. The topics discussed in the article include conflicting industry opinion on financial incentives, the effectiveness of current incentives, and alternative approaches. The article also includes a sidebar on tax incentives offered by state programs
Full Text Available The article endeavors to trace the outset of governance concept, its dominant meanings and discourse, and its implication towards governability. The central role of government in the governing processes has predominantly been adopted. The concept of governance was emerged precisely in the context of the failure of government as key player in regulation, economic redistribution and political participation. Governance is therefore aimed to emphasize pattern of governing which are based both on democratic mechanism and sound development management. However, practices of such good governance concept –which are mainly adopted and promoted by donor states and agencies– tend to degrade state and/or government authority and legitimacy. Traditional function of the state as sole facilitator of equal societal, political and legal membership among citizens has been diminished. The logic of fair competition has been substituted almost completely by the logic of free competition in nearly all sectors of public life. The concept and practices of good governance have resulted in decayed state authority and failed state which in turn created a condition for "ungovernability". By promoting democratic and humane governance, the article accordingly encourages discourse to reinstall and bring the idea of accountable state back in.
Full Text Available Until now, as a way of reducing greenhouse gas emissions from Japanese homes, the emphasis has been on reduction of energy consumption for air-conditioning and lighting. In recent years, there has been progress in CO2 emission reduction through research into the water-saving performance of bathroom fixtures such as toilets and showers. Simulations have shown that CO2 emissions associated with water consumption in Japanese homes can be reduced by 25% (1% of Japan’s total CO2 emissions by 2020 through the adoption of the use of water-saving fixtures. In response to this finding, a program to promote the replacement of current fixtures with water-saving toilet bowls and thermally insulated bathtubs has been added to the Government of Japan’s energy-saving policy. Furthermore, CO2 emission reduction through widespread use of water-saving fixtures has been adopted by the domestic credit system promoted by the Government of Japan as a way of achieving CO2 emission-reduction targets; application of this credit system has also begun. As part of a bilateral offset credit mechanism promoted by the Government of Japan, research to evaluate the CO2 reduction potential of the adoption of water-saving fixtures has been done in the city of Dalian, in China.
Yang, Yang; Gu, Jing; Zhou, Zongfang
Social media has been playing an increasingly important role in the sharing of individuals' opinions on many financial issues, including credit risk in investment decisions. This paper analyzes whether these opinions, which are transmitted through social media, can accurately predict enterprises' future credit risk. We consider financial statements oriented evaluation results based on logit and probit approaches as the benchmarks. We then conduct textual analysis to retrieve both posts and their corresponding commentaries published on two of the most popular social media platforms for financial investors in China. Professional advice from financial analysts is also investigated in this paper. We surprisingly find that the opinions extracted from both posts and commentaries surpass opinions of analysts in terms of credit risk prediction. Copyright © 2015 Elsevier Inc. All rights reserved.
... Alternatives to the Use of Credit Ratings in the Risk-Based Capital Guidelines of the Federal Banking Agencies... the use of external credit ratings in the regulations of the OCC. II. Risk-Based Capital Standards In.../joint22.htm . The agencies' risk-based capital standards reference credit ratings issued by NRSROs (credit...
Full Text Available As the banks have tightened lending requirements, companies look for alternative sources of external funding. One of such is bonds issue. Unfortunately, corporate bonds issue as a source of funding is rare in Lithuania. This occurs because companies face with a lack of information, investors fear to take on credit risk. Credit risk is defined as a borrower’s failure to meet its obligation. Investors, in order to avoid credit risk, have to assess the state of the companies. The goal of the article is to determine the most informative methods of credit risk assessment. The article summarizes corporate lending sources, analyzes corporate default causes and credit risk assessment methods. The study based on the SWOT analysis shows that investors before making an investment decision should evaluate both the business risk,using qualitative method CAMPARI, and the financial risk, using financial ratio analysis.
Emission trading is a good concept and approach to tackle global warming. However, what ''currency'' or ''credit'' should be used in the trading has remained a debatable topic. This paper proposed an ''Energy Credit'' concept as an alternative to the ''CO 2 credit'' that is currently in place. From the thermodynamic point of view, the global warming problem is an ''energy balance'' problem. The energy credit concept is thought to be more thermodynamically correct and tackles the core of the global warming problem more directly. The Energy credit concept proposed can be defined as: the credit to offset the extra energy trapped/absorbed in the earth (and its atmosphere) due to the extra anthropogenic emission (or other activities) by a country or company. A couple of examples are given in the paper to demonstrate the concept of the Energy credit and its advantages over the CO 2 credit concept. (author)
The credit derivative market was established at the beginning of the 1990s since the emergence of credit derivatives fits the rapid development of the whole derivatives market. However, compare to other derivative market, this market is still small and incomplete. As with other derivatives, credit derivatives can be used to either take more risk or hedge it, hence various credit derivatives instruments are accepted and widely used by market participants such as banks, insurance companies, etc...
Board of Governors of the Federal Reserve System, Washington, DC.
The five sections of this consumer handbook are The Cost of Credit, Applying for Credit, Credit Histories and Records, Correcting Credit Mistakes, and Complaining about Credit. Each section discusses relevant legislation: Truth in Lending, the Equal Credit Opportunity Act, and the Fair Credit Reporting Act. Topics discussed in section I include…
Molloy, Ian; Li, Jiangtao; Li, Ninghui
Theft of stored credit card information is an increasing threat to e-commerce. We propose a dynamic virtual credit card number scheme that reduces the damage caused by stolen credit card numbers. A user can use an existing credit card account to generate multiple virtual credit card numbers that are either usable for a single transaction or are tied with a particular merchant. We call the scheme dynamic because the virtual credit card numbers can be generated without online contact with the credit card issuers. These numbers can be processed without changing any of the infrastructure currently in place; the only changes will be at the end points, namely, the card users and the card issuers. We analyze the security requirements for dynamic virtual credit card numbers, discuss the design space, propose a scheme using HMAC, and prove its security under the assumption the underlying function is a PRF.
Christoffersen, Peter; Jacobs, Kris; Jin, Xisong
We characterize diversification in corporate credit using a new class of dynamic copula models which can capture dynamic dependence and asymmetry in large samples of firms. We also document important differences between credit spread and equity return dependence dynamics. Modeling a decade...... the crisis and remain high as well. The most important shocks to credit dependence occur in August of 2007 and in August of 2011, but interestingly these dates are not associated with significant changes to median credit spreads....
Is it possible to reduce greenhouse gas emissions by assigning a value to CO 2 ? That's the concept behind carbon credits. Their advantage: they set targets but let companies decide how to meet them. Of all the processes that can be used to reduce air pollution, the cap and trade system is the best way to meet global targets on a national or continental scale. The system's efficiency is based on setting a ceiling for emissions: this is the cap. The emissions quotas are negotiable goods that can be traded on a market: this is the 'trade'. No company can exceed its quotas, but it can choose how to meet them: decreasing its emissions by changing its production processes, buying carbon credits sold by companies that have exceeded their targets, or using clean development mechanisms. For a carbon credit system to function correctly on an economic level, it's essential to meet one condition: don't allocate too many emissions quotas to the companies involved. If they receive too many quotas, it's not hard for them to meet their objectives without changing their production processes. The supply of carbon credits currently exceeds demand. The price per ton of CO 2 is collapsing, and companies that have exceeded their targets are not rewarded for their efforts. Efficient though it may be, the cap and trade system cannot be the only way to fight CO 2 emissions. In Europe, it presently covers 40% of the CO 2 emissions by targeting utilities and industries that consume the most fossil fuels. But it cannot be extended to some sectors where pollution is diffuse. In transportation, for example, it's not possible to impose such a requirement. For that sector, as well as for the building sector, a suitable system of taxes might be effective and incentive
Svetlana Andrianova; Badi H. Baltagi; Panicos O. Demetriades; David Fielding
We put forward a plausible explanation of African financial underdevelopment in the form of a bad credit market equilibrium. Utilising an appropriately modified IO model of banking, we show that the root of the problem could be unchecked moral hazard (strategic loan defaults) or adverse selection (a lack of good projects). We provide empirical evidence from a large panel of African banks which suggests that loan defaults are a major factor inhibiting bank lending when the quality of regulatio...
Vojtek, Martin; Kočenda, Evžen
Roč. 56, 3-4 (2006), s. 152-167 ISSN 0015-1920 R&D Projects: GA ČR GA402/05/0931 Institutional research plan: CEZ:AV0Z70850503 Keywords : banking sector * credit scoring * discrimination analysis Subject RIV: AH - Economics Impact factor: 0.190, year: 2006 http://journal.fsv.cuni.cz/storage/1050_s_152_167.pdf
Fabozzi, F.; Vink, D.
In this paper, we empirically investigate what credit factors investors rely upon when pricing the spread at issue for European asset-backed securities. More specifically, we investigate how credit factors affect new issuance spreads after taking into account credit rating. We do so by investigating
Cahill, Timothy P.
In "Pushing Plastic," ("The New England Journal of Higher Education", Summer 2007), John Humphrey notes that many college administrators justify their credit card solicitations by suggesting that credit card access will help students learn to manage their own finances. Instead, credit card debt will teach thousands of students…
There is continuing controversy over the importance of credit constraints. This paper investigates whether total household expenditure and debt is affected by an exogenous increase in access to credit provided by a credit market reform that enabled Danish house owners to use housing equity...
Flávia Cruz de Souza Murcia
Full Text Available This study attempts to identify the determinant factors of credit rating in Brazil. The relevance of this proposal is based on the importance of the subject as well as the uniqueness of the Brazilian market. As for originality, the great majority of previous studies regarding credit rating have been developed in the US, UK and Australia; therefore the effect on other markets is still unclear, especially in emerging markets, like Brazil. We’ve used a Generalized Estimating Equations (GEE model considering a panel structure with a categorical dependent variable (credit rating and ten independent variables: leverage, profitability, size, financial coverage, growth, liquidity, corporate governance, control, financial market performance and internationalization. The sample consisted of 153 rating observations during the period of 1997-2011 for a total of 49 public firms operating in the Brazilian Market. Results showed that leverage and internationalization are significant at the 1% level in explaining credit rating. Performance in the financial market was significant at a 5% level; profitability and growth were also statistically significant, but at a 10% significance level.
Consolidated list of products whose consumption and/or sale have been banned, withdrawn, severely restricted or not approved by Governments. 10. issue. (New date only) (March 2001- April 2003). Pharmaceuticals
This publication presents a unique list of restrictive regulatory actions taken by one hundred thirteen Governments on over eleven hundred pharmaceuticals, agricultural and industrial chemicals, as well as consumer products. This comprehensive and informative book was produced in response to General Assembly resolutions aimed at protecting the world against products harmful to health and the environment. The current issue is entirely devoted to Pharmaceuticals
This chapter addresses the design and implementation issues of collaborative governance, a public management practice aimed at involving stakeholders in problem-solving and public innovation.......This chapter addresses the design and implementation issues of collaborative governance, a public management practice aimed at involving stakeholders in problem-solving and public innovation....
Industrial and economic developments in Taiwan have achieved a so-called 'miracle' in the last decades. Endeavors by the private enterprise, prudent planning by the government, and the devoted efforts by the diligent and creative labor forces have been credited jointly with the result. To develop a sustainable nuclear industry in support of an efficient and safe power generation and other applications of nuclear energy in Taiwan, continuing efforts from the private industry, government and each individual of the nuclear industry will be required. In this paper, milestones of the past and major issues for future developments will be discussed
Kurt Burneo Farfan
Full Text Available The aim of this paper is to introduce the importance of the banking credit risk, the main elements that conform it and the main alternatives that are offered to access to a loan as well as a description of its measurement and management in the sector. There will be a general explanation of credit risk and the main parties involved in it. As the topic is developed it is going to be analyzed the lending process carried out by the banks as well as the quantitative and qualitative elements taken into account when taking a credit decision (The 5C’s of credit, credit scoring and models for quantification of losses for instance. Another thing to considerate is that Credit risk arises whenever a borrower is expecting to use future cash flows to pay a current debt. Also, the investors have the access for the information of a client and they are compensated for assuming credit risk by way of interest payments from the borrower or issuer of a debt obligation and the credit risk is a useful tool for the finance management. The Enterprise risk management in Peru changed in 2015 because the local regulator is in process to review the norm, including some aspects of corporate governance; these changes are not included in this research.
Cai Wenjia; Wang Can; Chen Jining; Wang Siqiang
Based on the review of the basic design of the sectoral crediting mechanism (SCM) – a promising option for developing countries’ emission reduction commitments – this paper analyzes five important practical issues for China to solve before participating in SCM, which include (1) difficulties in determining a crediting baseline (2) the unsolved over-supply problem in the carbon market (3) the very likely “carbon credits falling short of mitigation costs” problem (4) the immature market-oriented price system jeopardizing the success of motivation incentives and (5) inadequate capacity building. Corresponding suggestions or compromise solutions are given after a discussion of each issue. It is also recommended that in order to witness SCM come into being, researchers and negotiators should endeavor to solve the practical issues that SCM meets now, bearing in mind the balance of interests of both developing and developed countries. Finally we believe that SCM’s political barriers can be overcome when technical, economic institutional and capacity problems are solved. - Highlights: ► Latest developments in Sectoral Crediting Mechanism design have been reviewed. ► Ten years would be an ideal duration to adjust sectoral crediting baseline in China. ► Specific sectors could be selected to solve the carbon credits over-supply problem. ► SCM credits may come short of the mitigation costs, claiming a rising carbon price. ► Pricing system in China’s electricity sector makes it not a good candidate for SCM.
Dakurah, Henry A.; Goddard, Ellen W.; Osuteye, Nicholas
Credit unions have played an important historical role in the Canadian economy. However, recent changes in the financial, agricultural and agri-food industry are posing great challenges to Credit unions in Western Canada. Much attention has been given to the impact of competitive rates and the environment offered by banks on credit union performance to the neglect of issues relating to member satisfaction and commitment which may be adding to other problems in the credit union sector. Studies...
Full Text Available An efficient system of credit information sharing contributes to solving the problem of information asymmetry on the credit and financial markets in general. The consequences of the global economic and financial crisis revealed an increasing demand for reliable information and data which could close the existing gap in their insufficiency, misuse or inadequate analytical value for the economic and financial policy makers. In that sense, more attention is directed to the usefulness of credit information sharing and the practical value of information and data contained in credit bureau reports for the purposes of achieving the overall economic policy goals. The fulfillment of that role depends mostly on the credit information sharing system and its characteristics, participants, and procedures. A credit bureau report in the best possible manner reflects all advantages and disadvantages of the established credit information exchange system in terms of its analytical value for the purposes of efficient macroeconomic and macrofinancial policies.
This handbook has been written to assist EE practitioners, government officials and stakeholders to establish effective EE governance structures for their country. The handbook provides readers with relevant information in an accessible format that will help develop comprehensive and effective governance mechanisms. For each of the specific topics dealt with (see Figure 1 in the Handbook), the IEA offers guidelines for addressing issues, or directs readers to examples of how such issues have been dealt with by specific countries.
Оксана Георгіївна Волкова
Full Text Available The article deals with the issues of income taxation of credit unions in Ukraine by the tax on profits of enterprises and tax of revenues of their members accrued on the interest of contributions (deposits on deposit accounts and mutual funds the tax to incomes of physical persons. The consequences of the influence of tax rules on capitalization of unions and the level of their financial support is defined
Nelson Camanho; Pragyan Deb; Zijun Liu
In principle, credit rating agencies are supposed to be impartial observers that bridge the gap between private information of issuers and the information available to the wider pool of investors. However, since the 1970s, rating agencies have relied on an issuer-pay model, creating a conflict of interest the largest source of income for the rating agencies are the fees paid by the issuers the rating agencies are supposed to impartially rate. In this paper, we explore the trade-off between re...
Full Text Available To price convertible bonds more precisely, least squares Monte Carlo (LSM method is used in this paper for its advantage in handling the dependence of derivatives on the path, and dynamic credit risk is used to replace the fixed one to make the value of convertible bonds reflect the real credit risk. In the empirical study, we price convertible bonds based on static credit risk and dynamic credit risk, respectively. Empirical results indicate that the ICBC convertible bond has been overpriced, resulting from the underestimation of credit risk. In addition, when there is an issue of dividend, the conversion price will change in China's convertible bonds, while it does not change in the international convertible bonds. So we also empirically study the difference between the convertible bond's prices by assuming whether the conversion price changes or not.
Foss, Nicolai J.
with diverse capabilities of handling these transactions. Various open research issues that a knowledge governance approach may illuminate are sketched. Although knowledge governance draws clear inspiration from organizational economics and `rational' organization theory, it recognizes that knowledge......An attempt is made to characterize a `knowledge governance approach' as a distinctive, emerging field that cuts across the fields of knowledge management, organisation studies, strategy and human resource management. Knowledge governance is taken up with how the deployment of administrative...
...; loans in the nature of overdraft protection; and credit extended in connection with credit cards. ... 12 Banks and Banking 5 2010-01-01 2010-01-01 false Consumer credit. 561.12 Section 561.12 Banks... AFFECTING ALL SAVINGS ASSOCIATIONS § 561.12 Consumer credit. The term consumer credit means credit extended...
Neelam C. Poudyala; Jacek P. Siry; J.M. Bowker
While the urban forest is considered an eligible source of carbon offset credits, little is known about its market potential and the quality aspects of the credits. As credit suppliers increase in number and credit buyers become more interested in purchasing carbon credits, it is unclear whether and how urban forest carbon credits can perform relative to the other...
Full Text Available In the article the economic nature and the functioning of CDS in terms of efficient redistribution of credit risk. The features of the dynamics of the nominal volume of the world market CDS, the gross market value and net market value of the CDS. Proved that more objective indicators of total credit risk shenerovanoho financial institutions are gross market value of the CDS and the net market value of CDS. We consider the variety and scope of CDS. Studied objectivity CDS valuation depending on the basis for valuation of CDS. In the mechanism of functioning CDS credit event as defined default “subject matter”, the features of conventional and technical default. Noted that a credit event for the use of CDS may also restructuring the company, bankruptcy or downgrade economic entity. In the article the types of CDS, including Basket Default Swap and First-of- Basket-to-Default Swap. We consider the application of CDS, namely hedge the credit risk of the underlying asset, which issued CDS; hedging credit risk of other assets by CDS; speculative trading in CDS. Depending on the particular basis for valuation of CDS, investigated objective valuation based on the value of CDS hedging; valuation CDS, based on the intensity of default; CDS valuation based on credit rating; valuation CDS, based on the value of the company. Proved that hedging through CDS will be effective only for the low correlation between the default of the underlying asset and counterparty default on swaps. It is proved that the accuracy and redutsyrovanyh structural models strongly depends on the “a long history of trading” underlying assets, asset must have a long history of trading, be the subject of in-depth analysis of a wide range of analysts and traders.
Boom, Jan-Tjeerd; R. Dijstra, Bouwe
This paper compares emissions trading based on a cap on total emissions (permit trading) and on relative standards per unit of output (credit trading). Two types of market structure are considered: perfect competition and Cournot oligopoly. We find that output, abatement costs and the number...... of firms are higher under credit trading. Allowing trade between permit-trading and credit-trading sectors may increase in welfare. With perfect competition, permit trading always leads to higher welfare than credit trading. With imperfect competition, credit trading may outperform permit trading....... Environmental policy can lead to exit, but also to entry of firms. Entry and exit have a profound impact on the performance of the schemes, especially under imperfect competition. We find that it may be impossible to implement certain levels of total industry emissions. Under credit trading several levels...
Full Text Available The purpose of this paper is to examine two South Africa legislations dealing with over indebtedness of a consumer. It is clear that in terms of the South African law, section 129 (1 and 130 (3 of the National Credit Act provide that a creditor provider who wishes to enforce a debt under a credit agreement must first issue a section 129 (1 (a notice to the consumer (the purpose of the notice is to notify the consumer of his/her arrears. On the other hand, the South African National Credit Act encourages the consumers to fulfil the financial obligations for which they are responsible. The second legislation to be examined which serve or appear to serve same purpose as the National Credit Act is the Insolvency Act. It therefore, postulated that the compulsory sequestration of a consumer in terms of the Insolvency Act would stand as an alternative remedy for a credit provider before she/he can have recourse mechanisms, such as debt review that are focused on satisfaction of the consumer’s financial obligation , in terms of the provisions of the National Credit Act. The paper determines to what extend these measures comply with the constitutional consumer protection demands. The legislature had been pertinently cognizant of the Insolvency Act when it lately enacted the National Credit Act. This is much apparent from the express amendment of section 84 of the Insolvency Act to the extent set out in schedule 2 of the National Credit Act
Sicking, Joachim; Guhr, Thomas; Schäfer, Rudi
We consider the problem of concurrent portfolio losses in two non-overlapping credit portfolios. In order to explore the full statistical dependence structure of such portfolio losses, we estimate their empirical pairwise copulas. Instead of a Gaussian dependence, we typically find a strong asymmetry in the copulas. Concurrent large portfolio losses are much more likely than small ones. Studying the dependences of these losses as a function of portfolio size, we moreover reveal that not only large portfolios of thousands of contracts, but also medium-sized and small ones with only a few dozens of contracts exhibit notable portfolio loss correlations. Anticipated idiosyncratic effects turn out to be negligible. These are troublesome insights not only for investors in structured fixed-income products, but particularly for the stability of the financial sector. JEL codes: C32, F34, G21, G32, H81.
Full Text Available Purpose: The study herein develops and tests a credit scoring model which can help financial institutions in assessing credit requests. Design/methodology/approach: The empirical study has the objective of answering two questions: (1 Which ratios better discriminate the companies based on their being solvent or insolvent? and (2 What is the relative importance of these ratios? To do this, several statistical techniques with a multifactorial focus have been used (Multivariate Analysis of Variance, Linear Discriminant Analysis, Logit and Probit Models. Several samples of companies have been used in order to obtain and to test the model. Findings: Through the application of several statistical techniques, the credit scoring model has been proved to be effective in discriminating between good and bad creditors. Research limitations: This study focuses on manufacturing, commercial and services companies of all sizes in Spain; Therefore, the conclusions may differ for other geographical locations. Practical implications: Because credit is one of the main drivers of growth, a solid credit scoring model can help financial institutions assessing to whom to grant credit and to whom not to grant credit. Social implications: Because of the growing importance of credit for our society and the fear of granting it due to the latest financial turmoil, a solid credit scoring model can strengthen the trust toward the financial institutions assessment’s. Originality/value: There is already a stream of literature related to credit scoring. However, this paper focuses on Spanish firms and proves the results of our model based on real data. The application of the model to detect the probability of default in loans is original.
Full Text Available The aim of this study is on understanding the international regulations issued by Basel I, Basel II and Basel III to best supervise and manage credit risk management policies. Part of paper will focus on the description and impacts of the regulations and the pivotal importance they play in providing a sound banking system. Credit risk represents another important element that will be analysed considering that it lays the foundation during the loan consideration and approval process. The paper will also explain in detail procedures and responsibilities shared along the process of loan acceptance by a banker. To sum up, the overall process from application to loan approval or denial will be explained pointing out the implications that are faced along the way
Dorronsoro, J R; Ginel, F; Sgnchez, C; Cruz, C S
This paper presents an online system for fraud detection of credit card operations based on a neural classifier. Since it is installed in a transactional hub for operation distribution, and not on a card-issuing institution, it acts solely on the information of the operation to be rated and of its immediate previous history, and not on historic databases of past cardholder activities. Among the main characteristics of credit card traffic are the great imbalance between proper and fraudulent operations, and a great degree of mixing between both. To ensure proper model construction, a nonlinear version of Fisher's discriminant analysis, which adequately separates a good proportion of fraudulent operations away from other closer to normal traffic, has been used. The system is fully operational and currently handles more than 12 million operations per year with very satisfactory results.
Full Text Available The economists have focused on credit crunch since 1990’s. The economists are not in consensus as to what constitutes the credit crunch. The differences in definitions come from the causes of credit contraction. Credit crunch is generally accepted as an enormous decline period in credit supply. Although the credit crunch is seen as a supply phenomenon, some economists define it as a demand issue. Investment declines significantly as result of an increase in credit rationing. The purpose of this study is to investigate the dependence of private investment on money and credit supply in Turkey. In other words, we want to quantify the effect of credit contraction in the banking sector on private fixed investment. VAR model is used to identify the existence of credit crunch through four economic variables: Private fixed investment, money stock (M2, bank loans to private sector and interest rate of commercial loans for the period ranging from 2003:01 to 2010:08. According to results of this study, it can be said that the credit crunch that we dealt with as a supply phenomenon leads to an investment collapse (slump in Turkey. The paper proceeds as follows: Section I provides theoretical background of credit channels and credit crunch. Section II summarizes recent empirical studies. Section III describes variables and discusses the empirical findings of the model. Section IV provides concluding remarks.
Petro Karas'; Nataliya Prykhod'ko
In the article the negative trends of the Ukrainian banking system functioning caused by the crisis phenomena are considered. The analysis of credit and investment portfolio and resource potential of Ukrainian banks is carried out. Main problems of this process are identified. Influence of the banks' resource potential upon credit and investment portfolio is estimated by constructing multivariate correlation-regression models. The proposals for the government regulation of the bank's credit a...
International Finance Corporation; U.S. Department of Commerce
The Russia corporate governance manual has been divided into and is published in six parts: (i) corporate governance introduced; (ii) good board practices; (iii) shareholder rights; (iv) information disclosure and transparency; (v) special focus section; and (vi) annexes model corporate governance documents. The first four parts contain chapters that focus on core corporate governance issu...
Byiers, Bruce; Rand, John; Tarp, Finn
This paper uses two industrial firm surveys to identify the key determinants of credit demand in Mozambican manufacturing. We construct five different measures of being credit constrained and estimate desired debt demand. Besides firm size and ownership structure, we find evidence that general...
The manual, intended for use by adults and not in the high school classroom situation, presents material directed toward assisting in the reduction of credit card crime. This teaching guide is organized in three sections which deal with the nature of and major reasons for credit card fraud, the types of hot card runners, and methods of reducing…
Augenblick, John; McGuire, Kent
Approaches for using the federal income tax system to aid families of pupils attending private schools include: tax credits, tax deductions, tax deferrals, and education savings incentives. Tax credit structures can be made refundable and made sensitive to taxpayers' income levels, the level of education expenditures, and designated costs.…
Hidalgo, D.; Oosterbeek, H.
In 2007 the government of Ecuador launched a micro-credit program for enterprises run by poor households. The program was targeted to households at the bottom two quintiles in the wealth distribution. This paper uses data collected prior to the start of the program to examine whether the
Houweling, P.; Hoek, J.; Kleibergen, F.R.
We present a new framework for the joint estimation of the default-free government term structure and corporate credit spread curves. By using a data set of liquid, German mark denominated bonds, we show that this yields more realistic spreads than traditionally obtained spread curves that result
The issue of regime complexity in global environmental governance is widely recognized. The academic debate on regime fragmentation has itself however been rather fragmented, with discussions circling around different concepts, including inter-organizational relations, polycentric governance,
... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Use of customers' free credit... UNDER SECTION 15C OF THE SECURITIES EXCHANGE ACT OF 1934 PROTECTION OF CUSTOMER SECURITIES AND BALANCES § 403.3 Use of customers' free credit balances. Every registered government securities broker or dealer...
This contribution deals with the impact of the credit crunch on the Dutch housing market and the policy responses of the Dutch government so far. Reinhart and Rogoff have presented an overview of credit crises after WW II: what are the general characteristics and impacts? Also in the Netherlands,
Hillier, D.; Hodgson, A.; Stevenson-Clarke, P.
This study examines the extended stakeholder corporate governance model in credit unions and the extent to which inherent managerial entrenchment impacts upon their operational decisions. Using Australian credit union data and the introduction of Basle-type capital adequacy regulations as a case
Carrington, William; Dahl, Molly; Falk, Justin
The federal government devotes roughly one-sixth of its spending to 10 major means-tested programs and tax credits, which provide cash payments or assistance in obtaining health care, food, housing, or education to people with relatively low income or few assets. Those programs and credits consist of the following: (1) Medicaid; (2) the low-income…
... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Credit analysis. 703.6 Section 703.6 Banks and... ACTIVITIES § 703.6 Credit analysis. A Federal credit union must conduct and document a credit analysis on an... Federal Deposit Insurance Corporation. A Federal credit union must update this analysis at least annually...
Fox, Linda Kirk
This cooperative extension bulletin provides basic information about credit cards and their use. It covers the following topics: types of credit cards (revolving credit, travel and entertainment, and debit); factors to consider when evaluating a credit card (interest rates, grace period, and annual membership fee); other credit card costs (late…
... 7 Agriculture 15 2010-01-01 2010-01-01 false Credit quality. 4280.139 Section 4280.139 Agriculture... Improvements Program Section B. Guaranteed Loans § 4280.139 Credit quality. The lender must determine credit quality and must address all of the elements of credit quality in a written credit analysis, including...
Credit ratings have a key role in modern financial markets as they communicate crucial information on the creditworthiness of a debt issuer to investors and regulators. These credit ratings are mostly determined by three rating agencies, namely Standard & Poor’s, Moody’s and Fitch, even though, the credit rating industry counts a dozen of recognized rating agencies. Indeed, the three agencies have become the market leaders with a market share of 94.3% on the U.S market (Bloomberg, 2015) and 9...
Francisco Glauber Pessoa Alves
Full Text Available This article seeks to establish minimum standards of coping with legal health issues filed against the government in Brazilian law. For this purpose, we used improved information sources, based on the so called Medical Evidence, in order to provide more technical and specific decisions. There are gaps in the jurisprudential and doctrinal sources on the subject. Sensitive and traumatic issues are considered, in the aspect of the so-called “tragic choices”. We bring a point of view that uses researches and medical information, beyond the legal issue. The bases used were the high jurisprudence and the National Council of Justice. It is also argued that the judge consider the macro aspect, especially the legitimate choices of public policy legitimately made by the administrator. There was use of the analytical-discursive method. At the end, it presents a decision-making guide able to provide solutions to daily cases in forensic routine.
... ENTERPRISE OVERSIGHT, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT SAFETY AND SOUNDNESS CORPORATE GOVERNANCE Corporate Practices and Procedures § 1710.16 Prohibition of extensions of credit to board members and...
Full Text Available There is no doubt about risky nature of international trade. Such risk can be conceptualized as country risk, transportation risk, customer risk and etc. Documentary Letters of Credit (LC are used as a method of payment in international business for many centuries in order to reduce risk of trade specially when parties are located in different countries and do not have precise information from financial standing of each other. In such occasion LC will reduce the risk of trade by shifting payment obligation from buyer as an individual to a payment guarantee of a bank as a legal entity in return for presentation of complying documents with terms of credit by seller. Familiarity with legal nature and different legal frameworks which govern the international operation of documentary letters of credit can facilitate the process of international trade for businessmen and boost national economies. However, lack of knowledge about them can impose huge losses on international traders. Situation will be more complicated when we understand that there are many internationally recognized legal frameworks which can affect the operation of LC and they get frequently updated in order to address technological and economic developments in global market. In this paper, author tries to answer questions regarding (i what are international legal frameworks governing operation of documentary letters of credit? (ii which areas of LC operation has been covered by them and (iii how do they address the legal questions regarding international operation of documentary letters of credit?
A new generation of high capacity spent fuel transport casks is being developed by the U.S. Department of Energy (DOE) as part of the Federal Waste Management System (FWMS). Burnup credit, which recognizes the reduced reactivity of spent fuel is being used for these casks. Two cask designs being developed for DOE by Babcock and Wilcox and General Atomics use burnup credit. The cask designs must be certified by the U.S. Nuclear Regulatory Commission (NRC) if they are to be used in the FWMS. Certification of these casks by the NRC would not require any change in the NRC's transport regulations, and would be consistent with past practices. Furthermore, use of burnup credit casks appears to be consistent with current International Atomic Energy Agency (IAEA) rules and regulations. To support NRC certification, DOE has identified the technical issues related to burnup credit, and embarked on a development program to resolve them. (J.P.N.)
Androulaki, Elli; Bellovin, Steven
Credit cards have many important benefits; however, these same benefits often carry with them many privacy concerns. In particular, the need for users to be able to monitor their own transactions, as well as bank’s need to justify its payment requests from cardholders, entitle the latter to maintain a detailed log of all transactions its credit card customers were involved in. A bank can thus build a profile of each cardholder even without the latter’s consent. In this paper, we present a practical and accountable anonymous credit system based on ecash, with a privacy preserving mechanism for error correction and expense-reporting.
ANCA NICOLETA GHEORGHE
Full Text Available The credit agreement meaning is trust. It involves a psychological relationship between two or more persons, characterized by predictability the third one involving present or future action on the status of a particular person.This relationship is psychological, in a certain context, social relationship and may take legal meanings. If at the beginning, people borrowed food and tools, later borrowed money to buy everything you wanted. Financial lending institution has become very popular, creating a group of people who have dealt with this service. Over time, this community has turned into banks. Being originally a loan of money covered by the Civil Code, the credit is used daily by both individuals and by professionals, becoming an engine of capitalist society. Unprecedented expansion of this contract led to a strict control of public authorities and subsequent legislative interventions, the articles of the Civil Code is supplemented by regulations governing the progressive banking, legal interest, namely consumer credit. Under the credit agreement, the economic situation of the parties is not equal, one party is disadvantaged in comparison to the other, protecting the disadvantaged part of the legislature making it a target in credit operations. In French doctrine, consumer credit has been praised as “a contract of all pleasures”; but at the same time “an agreement of all risks”.
Lancaster, D.; Fuentes, E.; Kang, C.; Rivard, D.
Owners of PWRs that are shutdown prior to resolution of interim storage or permanent disposal issues have to make difficult decisions on what to do with their spent fuel. Maine Yankee is currently evaluating multiple options for spent fuel storage. Their spent fuel pool has 1,434 assemblies. In order to evaluate the value to a utility of actinide-only burnup credit, analysis of the number of canisters required with and without burnup credit was made. In order to perform the analysis, loading curves were developed for the Holtec Hi-Star 100/MPC-32. The MPC-32 is hoped to be representative of future burnup credit designs from many vendors. The loading curves were generated using the actinide-only burnup credit currently under NRC review. The canister was analyzed for full loading (32 assemblies) and with partial loadings of 30 and 28 assemblies. If no burnup credit is used the maximum capacity was assumed to be 24 assemblies. this reduced capacity is due to the space required for flux traps which are needed to sufficiently reduce the canister reactivity for the fresh fuel assumption. Without burnup credit the 1,343 assemblies would require 60 canisters. If all the fuel could be loaded into the 32 assembly canisters only 45 canisters would be required. Although the actinide-only burnup credit approach is very conservative, the total number of canisters required is only 47 which is only two short of the minimum possible number of canisters. The utility is expected to buy the canister and the storage overpack. A reasonable cost estimate for the canister plus overpack is $500,000. Actinide-only burnup credit would save 13 canisters and overpacks which is a savings of about $6.5 million. This savings is somewhat reduced since burnup credit requires a verification measurement of burnup. The measurement costs for these assemblies can be estimated as about $1 million. The net savings would be $5.5 million
... contractor-issued travelers checks to pay for the interviewee's travel expenses? 301-75.204 Section 301-75.204 Public Contracts and Property Management Federal Travel Regulation System TEMPORARY DUTY (TDY) TRAVEL ALLOWANCES AGENCY RESPONSIBILITIES 75-PRE-EMPLOYMENT INTERVIEW TRAVEL Obtaining Travel Services...
Full Text Available The second attempt at constitutional organization, called Osnovanije Praviteljstva Sebskago (Establishment of a Serbian Government, was made by Constantine Constantinovich Rodofinikin, a Russian representative of Greek origine, immediatly after his arrival in Serbia (August 2, 1807. It was signed by Karađorđe on August 20, 1807. According to this project, the supreme power in liberated Serbia was to be executed by the Praviteljstvujušči Senat, i.e. a governing senate, composed of three categories of members: military commanders (vojvode, former honorable members of the council (sovjet and elected representatives of the nahiyes (Turkish districts or counties. The first two categories were to be nobles with a lifelong membership in the senate, while the members of the third category were able to achieve nobility only if elected three times into the senate. Karađorđe was to preside over the senate, bearing the title of svetlejši knez, 'sublime prince,' who would have the right of three votes. Rodofinikin did not consider Karađorđe to be an appropriate person to collaborate with. As a leader of the Uprising, responsible for its military success, Karađorđe demanded urgent, concrete and conditionless Russian aid. On the other hand, Karađorđe wanted autonomous and apsolutic power. Rodofinikin in his Establishment of a Serbian Government, gave him only the presidency over the Senate and the right of three votes. According to this Act, Karađorđe's power was neither hereditary, nor for a lifetime. Karađorđe was not at all satisfied with Rodofinikin's document, but he agreed to the Act thinking that it was the necessary price for Russian support. The aim of Rodofinikin, as well as Paulucci, was to ensure Russian influence in Serbia. However, Paulucci wanted to place Russian officers in all of the governing and commanding positions, while Rodofinikin's desire was to create some kind of Serbian aristocracy, faithful to Russia. During his
Nicklin, Julie L.
Increasingly, colleges are offering affinity credit cards with attractive incentives as a marketing tool. Some in academe feel the trend may compromise educational objectives. Institutions may also face taxation on unrelated-business income generated through the cards. (MSE)
Millennium Challenge Corporation — The analysis of WtM credit used baseline and final follow-up Farming Practices Survey (FPS) data to summarize beneficiary and loan characteristics, as well as to...
The Federal Constitutional Court discusses questions relating to the distribution of competence in the field of commission administration pursuant to Article 85 of the Basic Law ('Grundgesetz') in connection with a specific licensing procedure under atomic law (Kalkar). Under Art. 85 of the Basic Law executive competence is assigned irrevocably to the individual State, whereas substantive competence is always only assigned to the State insofar as it is not claimed by Federal Government. The decision further reviews questions of: Legal injury through federal instruction pursuant to Article 85 (3) of the Basic Law; a claimable right to the substantively lawful execution of the authority to instruct or even a right to sue for an injunction in the case of an infringement of the Constitution or of a basic right and associated boundary questions; the nedessity of clarity of instructions; and the obligation of Federal Government to act in a manner conducive to the promotion of the interests of the Federation as such. The Court also made it clear that the limits to the influence of the state on the rights of the individual derived from the principle of the Rule of Law do not apply to questions concerning competence in the Federation-State relationship. [Reference: Federal Constitutional Court 2 BvG 1/88, decision of May 22, 1990]. (RST) [de
Smith, Janet Kiholm
Commonly used trade credit terms implicitly define a high interest rate that operates as an efficient screening device where information about buyer default risk is asymmetrically held. By offering trade credit, a seller can identify prospective defaults more quickl y than if financial institutions were the sole providers of short-ter m financing. The information is valuable in cases where a seller has made nonsalvageable investments in buyers since it enables the seller to take actions to pr...
This paper analyzes the trade-off between financial stability and credit rationing that arises when increasing capital requirements. It extends the Stiglitz-Weiss model of credit rationing to allow for bank default. Bank capital structure then matters for lending incentives. With default and rationing endogenous, optimal capital requirements can be analyzed. Introducing bank financiers, the paper also shows that uninsured funding raises the sensitivity of rationing to capital requirements. In...
Adolfo Barajas; Roberto Steiner
This study examines the recent marked slowdown in bank credit to the private sector in Latin America. Based on the study of eight countries (Argentina, Bolivia, Brazil, Chile, Colombia, Peru, Mexico, and Venezuela), the magnitude of the slowdown is documented, comparing it to historical behavior and to slowdown episodes in other regions of the world. Second, changes in bank balance sheets are examined to determine whether the credit slowdown is merely a reflection of a slowdown in bank deposi...
Fox, Nick J; Ward, Katie J
Governance addresses a wide range of issues including social, economic and political continuity, security and integrity, individual and collective safety and the liberty and rights to self-actualization of citizens. Questions to be answered include how governance can be achieved and sustained within a social context imbued with cultural values and in which power is distributed unevenly and dynamically, and how governance impacts on individuals and institutions. Drawing on Gramscian notions of hegemony and consent, and recent political science literatures on regulation and meta-regulation, this paper develops a sociological model of governance that emphasizes a dynamic and responsive governance in action. Empirical data from a study of pharmaceutical governance is used to show how multiple institutions and actors are involved in sustaining effective governance. The model addresses issues of how governance is sustained in the face of change, why governance of practices varies from setting to setting, and how governance is achieved without legislation.
Update on Law-Related Education, 1990
Presents a lesson developed by the Center for Civic Education giving secondary students the opportunity to explore ethical issues in government from the perspective of corrective justice. Outlines role plays and other class activities based on a fictitious ethics scandal involving bribery. Identifies specific questions to be asked on issues of…
Aizzat Mohd. Nasurdin
Full Text Available The study is aimed at validating attributes that influence the differences in attitudes among active and inactive cardholders. By focusing on relevant attributes that have been identified, it is believed that credit card issuing banks can position themselves effectively via their marketing strategies to activate their existing cardholders' usage rate as well as to attract new active cardholders. Thirteen important attributes were used to measure credit cardholders' attitude. These attributes include acceptance level, credit limit, interest-free repayment period, annual fee, application approval period, ancillary functions, handling of cardholders' complaints, issuing bank image, gift/bonus to new applicants, card design, leaflet to describe the card,and advertising by the issuing bank. Acceptance level, credit limit, interest free repayment period, ancillary functions, handling of cardholders' complaints, bank image, and bank advertising were found to be the most important attributes that influenced cardholders' attitudes in distinguishing active from inactive cardholders. Based on the results of the study, several suggestions are forwarded to credit card issuing banks as a step to stimulate credit cardholders' usage level. Among these are to work closer with various retailers to promote the credit card payment mode, to provide adequate credit limit to cardholders, to extend interest free repayment period from 20 days to 30 days, to implement strategic alliances with firms involved in travelling, entertainment, insurance, and telecommunications and, to advertise more so as to create a brand name for the issuing bank.
Sørensen, Eva; Torfing, Jacob; Peters, B. Guy
Governance has become one of the most commonly used concepts in contemporary political science. It is, however, often used to mean a variety of different things. This book helps to clarify this conceptual muddle by concentrating on one variety of governance-interactive governance. The authors argue...... that although the state may remain important for many aspects of governing, interactions between state and society represent an important, and perhaps increasingly important, dimension of governance. These interactions may be with social actors such as networks, with market actors or with other governments......, but all these forms represent means of governing involving mixtures of state action with the actions of other entities.This book explores thoroughly this meaning of governance, and links it to broader questions of governance. In the process of explicating this dimension of governance the authors also...
Jacobsen, Tor; von Schedvin, Erik
We quantify the importance of trade credit chains for the propagation of corporate bankruptcies. Our results show that trade creditors (suppliers) that issue more trade credit are more exposed to trade debtor (customer) failures, both in terms of the likelihood of experiencing a debtor failure and the loss given failure. We further document that the credit loss invoked by a debtor failure imposes a substantially enhanced bankruptcy risk on the creditors. The propagation mechanism is mitigated...
Full Text Available College students frequently show they have little skill when it comes to using a credit card in a responsible manner. This article deals with this issue in an emerging market and in a pioneering manner. University students (n = 769 in São Paulo, Brazil’s main financial center, replied to a questionnaire about their credit card use habits. Using Logit models, associations were discovered between personal characteristics and credit card use habits that involve financially risky behavior. The main results were: (a a larger number of credit cards increases the probability of risky behavior; (b students who alleged they knew what interest rates the card administrators were charging were less inclined to engage in risky behavior. The results are of interest to the financial industry, to university managers and to policy makers. This article points to the advisability, indeed necessity, of providing students with information about the use of financial products (notably credit cards bearing in mind the high interest rates which their users are charged. The findings regarding student behavior in the use of credit cards in emerging economies are both significant and relevant. Furthermore, financial literature, while recognizing the importance of the topic, has not significantly examined the phenomenon in emerging economies.
Full Text Available United Kingdom is a limited parliamentary monarchy, in which state sovereignty is exercised jointly by two basic political institutions: Royal Crown and Parliament. The credit for a successful political co-governance of these institutions, which are simultaneously bearers of popular sovereignty, are usually addressed to the Queen's lack of executive power to exercise power alone and hence all the restraint in the race for primate of governance. It goes even further considering that the Queen is quite weak and has only ceremonial functions, which do not disturb the Parliament. However, a careful researcher may notice that the Queen continues to affect the British Government in general and in particular on defence issues. Declassification of communication between Prince Charles and the Government in 2013, pointed out a continuing impact of the Queen and her son on many political issues, including those of defence and security. Since Britain has no codified constitution in a single document, it is not easy to determine the real power and competences of the Queen. It is even more difficult, because customary law and precedent prevail. Therefore, the real definition of the role of the Queen in general in the British Government, can be done by studying the culture, structure and constitutional practice. On their basis I will try to determine the real impact of the Queen in matters of defence and security, whether through her prerogatives in relation to the Government and Parliament, or through moral and informal influence in relation to the Prime Minister and particular ministers.
Full Text Available Considering the importance of credit risk management to ensure the financial system stability,the paper presents financial and real sector interaction highlighting that credit growth based on increase of creditdemand, of income, of assets prices, of currency availability, the interest rate differential between countries andrelaxation of regulatory framework, leaves banks more vulnerable to subsequent downturn in economic activity andasset prices. It also outlines the steps taken or those I think that should be implemented in terms of improving creditrisk management, implementation of regulatory measures to limit credit expansion, enforcing the regulatoryrequirements for covering the expected and unexpected losses, introduction of new surveillance tools aimed to leadto a more resilient financial system.
Full Text Available This study investigates the impact of ownership structure of Commercial Banks on bank credit risk in an emerging market like Bangladesh. Prais Winten regression model is applied to a sample of 32 commercial banks from the year of 2000 to 2014 with 390 observations. The result reveals that National Commercial Banks, depositors’ influence, shareholders’ influence, liquidity and profitability are negatively associated with credit risk whereas lag risk has a significant positive impact on credit risk. The effect of banks ownership structure on credit risk divulges a delicate governance of the banking sector. The study conveys a momentous implication of research findings in the national economy. It also found that national commercial banks have the tendency of violating the rules and absorbing heavy risk. It suggests that policy maker should rethink about the government ownership of banks. Therefore the denationalization or reducing government ownership structure is highly recommended.
Full Text Available Prudential supervision of credit institutions by the national authority leads to better their financial stability, especially in times of financial crisis. Governance and bank resolution of credit institutions posing systemic importance are two distinct functions that are monitored by the central bank as the national supervisory authority of the banking system.. Identify risks and vulnerabilities of the banking system's financial components are an important task of the national supervisory authority. Banking Resolution as extreme activity may be a consequence of ineffective corporate governance of credit institutions. The emergence and development of failures in corporate governance of financial institutions and inadequate allocation of funds to support their activities may affect the financial stability of credit institutions and hence the banking system.
... DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Parts 1 and 602 [TD 9590] RIN 1545-BJ82 Health Insurance Premium Tax Credit Correction In rule document 2012-12421 appearing on pages 30377-30400 in the issue of Wednesday, May 23, 2012, make the following corrections: 0 1. On page 30385, in the...
Mazzega, Pierre; Therond, Olivier; Debril, Thomas; March, Hug; Sibertin-Blanc, Christophe; Lardy, Romain; Sant'ana, Daniel
This paper presents the experience gained related to the development of an integrated simulation model of water policy. Within this context, we analyze particular difficulties raised by the inclusion of multi-level governance that assigns the responsibility of individual or collective decision-making to a variety of actors, regarding measures of which the implementation has significant effects toward the sustainability of socio-hydrosystems. Multi-level governance procedures are compared with the potential of model-based impact assessment. Our discussion is illustrated on the basis of the exploitation of the multi-agent platform MAELIA dedicated to the simulation of social, economic and environmental impacts of low-water management in a context of climate and regulatory changes. We focus on three major decision-making processes occurring in the Adour-Garonne basin, France: (i) the participatory development of the Master Scheme for Water Planning and Management (SDAGE) under the auspices of the Water Agency; (ii) the publication of water use restrictions in situations of water scarcity; and (iii) the determination of the abstraction volumes for irrigation and their allocation. The MAELIA platform explicitly takes into account the mode of decision-making when it is framed by a procedure set beforehand, focusing on the actors' participation and on the nature and parameters of the measures to be implemented. It is observed that in some water organizations decision-making follows patterns that can be represented as rule-based actions triggered by thresholds of resource states. When decisions are resulting from individual choice, endowing virtual agents with bounded rationality allows us to reproduce (in silico) their behavior and decisions in a reliable way. However, the negotiation processes taking place during the period of time simulated by the models in arenas of collective choices are not all reproducible. Outcomes of some collective decisions are very little or
Claudinê Jordão de Carvalho
Full Text Available This article investigates the determinant factors of supply and demand for trade credit by micro, small and medium-sized enterprises (MSMEs, using data collected in a survey of managers from 481 firms in 32 cities in the states of São Paulo and Minas Gerais (Brazil between 2008 and 2010. The multivariate relationship model proposed here is grounded in trade credit, agency and transaction costs theories. This study is based on a technique known as path analysis that uses a system of simple regressions estimated by simultaneous equations. The main results show the following: (i trade credit and short-term bank loans are supplementary (and not substitute sources of funds for MSMEs, which demonstrates that trade credit can be used by financial institutions as an indicator of the creditworthiness of the company; (ii the proportion of credit sales, the days sales outstanding measure and sales growth are positively related to the amount of trade credit demanded, which suggests that trade credit is transferred along the supply chain; and (iii the supply of trade credit is positively related to the importance that management ascribes to both internal capital and bank credit, which illustrates the strategic use of the supply of trade credit to increase sales. These results have important implications for companies' managers, financial institutions and the government agencies responsible for formulating policies that support and promote the development of small and medium-sized enterprises.
... appropriations, direct payment of a Credit Risk Premium by the Applicant or a non-Federal infrastructure partner... 49 Transportation 4 2010-10-01 2010-10-01 false Credit reform. 260.13 Section 260.13... REHABILITATION AND IMPROVEMENT FINANCING PROGRAM Overview § 260.13 Credit reform. The Federal Credit Reform Act...
... exclude CLF stock subscriptions, based on the asset's negligible credit risk and to facilitate corporate... removing paragraphs (c)(3) and (f)(4) and adding paragraph (h) to read as follows: Sec. 704.6 Credit risk... NATIONAL CREDIT UNION ADMINISTRATION 12 CFR Part 704 RIN 3133-AD95 Corporate Credit Unions AGENCY...
... OF TRANSPORTATION TRANSFER AND TRADING OF FUEL ECONOMY CREDITS § 536.4 Credits. (a) Type and vintage... category, and model year of origin (vintage). (b) Application of credits. All credits earned and applied are calculated, per 49 U.S.C. 32903(c), in tenths of a mile per gallon by which the average fuel...
Bams, Dennis; Bos, Jaap; Pisa, Magdalena
Firms depend heavily on trade credit. This paper introduces a trade credit network into a structural model of the economy. In an empirical analysis of the model, we find that trade credit is an elusive insurance: as long as a firm is financially unconstrained and times are good, more trade credit
Martha E. Izquierdo Muciño
Full Text Available The Saving service and Credit Popular (Cajas de Ahorro y Credito Popular first appeared in Mexico in 1951 at the initiative of the priest Pedro Velazquez, similar to the popular savings banks that existed in Canada, which had been founded by Alphonse Desjardins in the early XX century.These savings service (Cajas de Ahorro were developing successfully in almost all Mexican communities, most of them remained faithful to the principles and ordinances of the church that gave rise to them, without the government participate in this activity and without policies encouraging or regulatory actions. It was not until 1991 when the General Law of Organizations and Auxiliary Credit Activities (Ley General de Organizaciones y Actividades was enacted. However in 2000 they began to emerge problems arising from fraudulent activities by some people taking advantage of loopholes established irregular saving services. Consequently and in order to solve these problems was changing the law. The last of the fraud occurred with the popular financial called FICREA (2015, to which was amended regulatory law again and while thus sought to avoid another fraud, who really was affected is a large amount very poor indigenous and peasants.Received: 03.06.2015Accepted: 17.07.2015
This article describes the US and Japan's "Common Agenda for Cooperation in Global Perspective." This agenda was launched in July 1993. The aim was to use a bilateral partnership to address critical global challenges in 1) Promotion of Health and Human Development; 2) Protection of the Environment; 3) Responses to Challenges to Global Stability; and 4) Advancement of Science and Technology. The bilateral effort has resulted in 18 initiatives worldwide. Six major accomplishments have occurred in coping with natural disasters in Kobe, Japan, and Los Angeles, US; coral reefs; assistance for women in developing countries; AIDS, children's health; and population problems. The bilateral effort has been successful due to the active involvement of the private sector, including businesses and nongovernmental organizations (NGOs). Many initiatives are developed and implemented in cooperation with local NGOs. The government needs the private sector's technical and managerial fields of expertise. Early investment in NGO efforts ensures the development of self-sustaining programs and public support. An Open Forum was held in March 12-13, 1998, as a commemoration of the 5-year cooperative bilateral effort. Over 300 people attended the Forum. Plenary sessions were devoted to the partnership between public and private sectors under the US-Japan Agenda. Working sessions focused on health and conservation. Participants suggested improved legal systems and social structures for facilitating activities of NGOs, further development by NGOs of their capacities, and support to NGOs from corporations.
Piciocchi, Cinzia; Ducato, Rossana; Martinelli, Lucia; Perra, Silvia; Tomasi, Marta; Zuddas, Carla; Mascalzoni, Deborah
This paper outlines some of the challenges faced by regulation of genetic biobanking, using case studies coming from the Italian legal system. The governance of genetic resources in the context of genetic biobanks in Italy is discussed, as an example of the stratification of different inputs and rules: EU law, national law, orders made by authorities and soft law, which need to be integrated with ethical principles, technological strategies and solutions. After providing an overview of the Italian legal regulation of genetic data processing, it considers the fate of genetic material and IP rights in the event of a biobank's insolvency. To this end, it analyses two case studies: a controversial bankruptcy case which occurred in Sardinia, one of the first examples of private and public partnership biobanks. Another case study considered is the Chris project: an example of partnership between a research institute in Bolzano and the South Tyrolean Health System. Both cases seem to point in the same direction, suggesting expediency of promoting and improving public-private partnerships to manage biological tissues and biotrust to conciliate patent law and public interest.
Full Text Available The results of a bank’s activities depend to a significant extent on the quality of the credit portfolio that it holds, as well as on the credit tracking and control system. The purpose and functioning of such inter-banking systems differs from one bank to another. Loans require an increasingly efficient type of internal surveillance of activity. Following the clients’ behavior and performances, as well as their entire activity is a particularly important phase and absolutely necessary in the course of a loan. The purpose of this activity is, generally, that of identifying, as early as possible, of clues about any problems that may appear during the course of the loan, so as to make possible, as early as can be, the taking of remedial measures with a view to anticipate the deterioration of the loan’s debt. An open communication between the bank and the loan’s beneficiary is an essential condition for an efficient tracking program. Another basic element is the rigorous and complete filling out of the credit papers. The credit files are the backbone of the of the loan monitoring process because these contain all of the documents which may offer to the credit officer, accounting expert, as well as other interested parties a permanent, chronological record of the loan relation.
Governance analysis has exploded in recent years, and it has become nearly impossible to tell what difference the concept and practice of governance makes from those of government and state. In addition governance analysis has been placed more and more in the shadow of the new institutionalisms and...... and growth. However, interactive governance is not a property or effect of institutions; nor does it apply solely to those individuals who seek success above everything else. It is connective more than individualistic or collectivistic in nature; and it manifests a governability capacity which...
The tightness of control procedures in the legal protection provided by jurisdiction against directives issued by the Federal Government - a problem of competence distribution between the Federal Constitutional Court and the Federal Administrative Court?
The tightness of control procedures in the legal protection provided by jurisdiction against directives issued by the Federal Government - a problem of competence distribution between the Federal Constitutional Court and the Federal Administrative Court? The article examines questions of recourse to the competent court, problems concerning the admissibility of legal proceedings before the Federal Admininstrative Court, the competence of the Laender in performing administrative acts on behalf of the Federation, the effectiveness of legal protection and the relationship between the Laender and the Federation in terms of responsibility for constitutional rights. The legal protection offered by administrative law, against a directive of the Federal Government is wholly ineffective, as there is no legal position a Land could bring into play to defened itself against a directive leading to unlawful action. Inequites which thus occur can however be met via a dispute between the Federation and the Laender as provided by the constitution, as the content of a directive becomes relevant in attempts to exert influence on the competence issue. Ultimately the rulings of the Basic Law on competence serve to protect the citizen and the community against excesses. In this connection the constitutional rights in their capacity as negative competence rulings disqualify executive acts. (orig./HSCH) [de
D'Agostino, Davi M.
In response to a request from the House of Representatives, employees of the General Accounting Office conducted structured interviews with about 100 officials at 12 universities and colleges around the United States about several issues related to college students and credit cards. They also reviewed three studies of credit card use by college…
Using data from two surveys carried out in 2006 and 2008 on 177 farmers in Chile, this study measures access to credit and empirically determine the effects of credit constraints on investment and production for market-oriented farmers in central Chile. More specifically, four issues are dealt
This paper examines ways of overcoming inconsistencies between IFRS and modern concepts of credit risk management, namely, expected loss model and risk-adjusted loan pricing. Also, it is considered an issue of acceptable levels of concentration risk in bank credit portfolio.
Examines development and evolution of Canadian government information policy in response to issues of preservation of data, information industry involvement in government data development and marketing, role of Crown copyright, and public access to government information in electronic formats. Six key information policy instruments are also…
Марсель Альбертович Шарипов
Full Text Available Credit-default swaps as well as all derivatives have appeared as a result of policy of a decontrol the American government of bank sector of economy.In article attempt to open motives of unfair use swaps is lead by some states, and modern anti-recessionary decisions concerning derivatives are considered. The objective of research consist it is revealing history and the reasons by occurrence the credit-default swaps, also the history of development the institutional infrastructures for stable and not causing suspicions functioning of the market of credit-default swaps by national regulators. The research of the given problem in modern aspect of its progress has outstanding of novelty character. The reaction of regulators for the crisis are remarkable which events caused by shadow use of derivative financial tools including and credit-default swaps. In research the authors come to following conclusions. First, credit-default swaps are compatible to qualitative variations in corporate economy and answers to modern calls of more globalized financial system. The second, the functioning of the market of derivatives is really idiosyncratic that predetermines a final adage of that sort that arising problems with derivatives occurs not in their essence, but in purposefulness of their use.DOI: http://dx.doi.org/10.12731/2218-7405-2013-1-40
Full Text Available Key role of credit rating agencies is reducing the asymmetry information about credit quality (of governments, business entities or securities between issuers and investors, and ensuring a common standard of measuring the creditworthiness. Credit rating agencies are engaged in the sale of opinions about creditworthiness in the form of an alphabetical letter or symbol, which represents a unique ranking. Their opinion is not a guarantee, but it largely dictates the costs and the profits in the financial markets. This work shows the influence of credit rating agencies to investors and publishers, and their role as market regulators. Conflict of interest is a fundamental problem, which is caused by their way of doing business, it arises from their two main objectives: profit and market regulation, which will be explored in the work. Looking back in history credit rating agencies often selected goal of making a profit at the cost of market regulation, therefore they have caused the collapse of the market, and founded themselves criticized by the public.
Full Text Available Women labor participation rate is very low in Turkey. Although the governmentincentive policies have relatively improved, positive developments expected in thisarea have not taken place at the desired level. The micro-credit scheme aiming atproviding relatively smaller amount of loans to entrepreneur women to start theirbusiness began in 1980s in the world, and became operational in our country atthe beginning of 2000s. Currently, certain level of successful is observed throughin many Turkish provinces through this system. To this day, nearly 200thousandfemale entrepreneur established their business through small capital provided bythe micro credit system in Turkey. Moreover, they have already paid back all theloans that they used. In this study, the application of micro-credit system forincreasing female participation in labor force and business life is investigated.The labor participation level of women in Turkey has remained quite low.Although the government incentive policies have relatively provided improvement,the positive developmentsexpected in this area have not taken place at the desiredlevel. The micro-credit scheme aiming at providing relatively lower amount ofloans to women to start their business began in 1980s in the world, and becameoperational in our country at the beginning of 2000s. Currently, we see successfulwork is done through this scheme in many Turkish provinces. In this study, theapplication of micro-credit system for increasing the participation of women inworking life is elaborated.
This report assesses the corporate governance policy framework and enforcement and compliance practices in Hungary. Hungary has already invested considerable resources in upgrading its legislation to meet European Union Directives, and the legislative and regulatory framework dealing with corporate governance issues is robust. The major issues identified by this review include: (1) the gen...
Sanayei, Ali.; Rajabion, Lila
Security is very often mentioned as one of the preconditions for the faster growth of e-commerce. Without a secure and reliable internet, customer will continue to be reluctant to provide confidential information online, such as credit card number. Moreover, organizations of all types and sizes around the world rely heavily on technologies of electronic commerce (e-commerce) for conducting their day-to-day business transaction. Providing organizations with a secure e-commerce environment is a major issue and challenging one especially in Middle Eastern countries. Without secure e-commerce, it is almost impossible to take advantage of the opportunities offered by e-commerce technologies. E-commerce can create opportunities for small entrepreneurs in Middle Eastern countries. This requires removing infrastructure blockages in telecommunications and logistics alongside the governance of e-commerce with policies on consumer protection, security of transactions, privacy of records and intellectual property. In this paper, we will explore the legal implications of e-commerce security governance by establishing who is responsible for ensuring compliance with this discipline, demonstrating the value to be derived from information security governance, the methodology of applying information security governance, and liability for non-compliance with this discipline. Our main focus will be on analyzing the importance and implication of e-commerce security governance in developing countries.
J.F. Slijkerman; D.J.C. Smant (David); C.G. de Vries (Casper)
textabstractBanks provide risky loans to firms which have superior information regarding the quality of their projects. Due to asymmetric information the banks face the risk of adverse selection. Credit Value-at-Risk (CVaR) regulation counters the problem of low quality, i.e. high risk, loans and
Brown, M.; Ongena, S.; Popov, A.; Yesin, P.
Based on survey data covering 8,387 firms in 20 countries we compare the access to bank credit for firms in Eastern Europe to that in selected Western European countries. Our analysis reveals five main results. First, the firm-level determinants of the propensity to apply are similar in Eastern and
Wimmer, Maria A.; Traunmüller, Roland; Grönlund, Åke
This book constitutes the refereed proceedings of the 4th International Conference on Electronic Government, EGOV 2005, held in Copenhagen, Denmark, in August 2005. The 30 revised papers presented were carefully reviewed and selected from numerous submissions, and assess the state-of-the-art in e-government/e-governance...
: Environmental Documents, Reports LANL Home Calendar Search Contacts About Â» Leadership, Governance Leadership national security and energy challenges. Leadership, Governance Ethics, Accountability Los Alamos National . Director's Office terry wallace in leadership, governance Director Terry C. Wallace, Jr. Terry C. Wallace, Jr
Flak, Leif Skiftenes; Rose, Jeremy
to e-Government. Originally a management theory, stakeholder theory advocates addressing the concerns of all stakeholders in a firm, as opposed to concentration on the interests of senior managers and stockholders. Apart from the original profit focus, there is no serious conceptual mismatch between...... of governance. Finally, the paper makes recommendations for future work in adapting ST to the e-government context....
Kalyuzhnova, Yelena; Nygaard, Christian
This paper analyses the connection between resource nationalism and financial sector intervention in the FSU countries. We consider recent financial development in the FSU and the special features of energy rich emerging economies (Russia and Kazakhstan, in particular) which are influencing recent credit expansions. We find that the hydrocarbon sector has boosted boosting domestic credits through a number of direct and indirect routes. Recent decline in oil prices may change government attitudes to a continued resource nationalist strategy. Sovereign wealth funds that were established in a majority of energy rich emerging economies may, to the extent that they enable the selection of winners in specific economic sectors, create path dependency or exacerbate longer term allocative inefficiency arising from the governance structure associated with resource nationalism.
Kalyuzhnova, Yelena; Nygaard, Christian [The Centre for Euro-Asian Studies, The University of Reading, Whiteknights, PO Box 218, Reading RG6 6AA (United Kingdom)
This paper analyses the connection between resource nationalism and financial sector intervention in the FSU countries. We consider recent financial development in the FSU and the special features of energy rich emerging economies (Russia and Kazakhstan, in particular) which are influencing recent credit expansions. We find that the hydrocarbon sector has boosted boosting domestic credits through a number of direct and indirect routes. Recent decline in oil prices may change government attitudes to a continued resource nationalist strategy. Sovereign wealth funds that were established in a majority of energy rich emerging economies may, to the extent that they enable the selection of winners in specific economic sectors, create path dependency or exacerbate longer term allocative inefficiency arising from the governance structure associated with resource nationalism. (author)
Clara Iulia ZINCA (VOICULESCU
Full Text Available Given that the economic landscape becomes more and more complex and dynamic, the internal audit plays an increasing role, being considered a pillar of the corporate governance structure of credit institutions. Failures of risk management have demonstrated the important role of internal audit and the need for it to evolve and to meet the multiple expectations of the stakeholders. Beyond the core assurance provided by internal audit relating to risk and controls, these expectations include providing a deeper insight and value, particularly in the areas of strategy achievement, emerging risks and use of advanced data analysis. This paper aims to identify the major challenges encountered by the internal audit function in credit institutions in the current period and the ways in which internal audit can respond to these challenges, to deliver according to the growing expectations on corporate governance and to actively support the organizations in achieving a steady and sound development.
Clara Iulia ZINCA (VOICULESCU
Full Text Available Given that the economic landscape becomes more and more complex and dynamic, the internal audit plays an increasing role, being considered a pillar of the corporate governance structure of credit institutions. Failures of risk management have demonstrated the important role of internal audit and the need for it to evolve and to meet the multiple expectations of the stakeholders. Beyond the core assurance provided by internal audit relating to risk and controls, these expectations include providing a deeper insight and value, particularly in the areas of strategy achievement, emerging risks and use of advanced data analysis. This paper aims to identify the major challenges encountered by the internal audit function in credit institutions in the current period and the ways in which internal audit can respond to these challenges, to deliver according to the growing expectations on corporate governance and to actively support the organizations in achieving a steady and sound development.
Veeneman, W.; Hirschhorn, F.; Klievink, A.J.; Steenhuisen, B.M.; van der Voort, H.G.
This document represents the governance handbook on mobility data platforms for the PETRA project. The governance handbook provides metropolitan authorities contemplating the implementation of a mobility data platform in line with the PETRA project about governance issues and design.
Khan, Muhammad Ehsan
FOUNDATION OF GOVERNANCEGovernanceDefining GovernanceGovernance at Multiple LevelsSummaryReferencesTransaction Cost EconomicsTransactions-Core Elements and Attributes Behavioral Assumptions Governance Structure AttributesHazards of Concern Incomplete Contracting Bilateral Dependency and Fundamental Transformation Adaptation or MaladaptationLinking Governance, Governance Structures, and ContractsThe Impact of Asset Specificity and Behavioral Assumptions on ContractsAp
Mols, Niels Peter; Menard, Claude
Plural governance is a form of governance where a firm both makes and buys similar goods or services. Despite a widespread use of plural governance there are no transaction cost models of how plural governance affects performance. This paper reviews the literature about plural forms and proposes...... a model relating transaction cost and resource-based variables to the cost of the plural form. The model is then used to analyze when the plural form is efficient compared to alternative governance structures. We also use the model to discuss the strength of three plural form synergies....
Clara Iulia ZINCA (VOICULESCU)
Given that the economic landscape becomes more and more complex and dynamic, the internal audit plays an increasing role, being considered a pillar of the corporate governance structure of credit institutions. Failures of risk management have demonstrated the important role of internal audit and the need for it to evolve and to meet the multiple expectations of the stakeholders. Beyond the core assurance provided by internal audit relating to risk and controls, these expectations include p...
Villadsen, Kaspar; Wahlberg, Ayo
. Subsequent research on biopolitics and governmentality has tended to separate the concepts, differentiating into distinct research traditions each with different intellectual pathways. We propose to bring these conceptual innovations together to understand contemporary problems of the government of life...... of death power, the interplay of sovereignty, discipline and security, governmentalization through medical normalization, and ‘securitization’ of life as circulations and open series. The article also introduces this special feature on the government of life in which significant scholars explores issues...
Rotroff, A.S.; Sanderson, G.A.
This article outlines a method for using certain U.S. income tax credits to raise investment capital. With proper structuring, these tax credits can essentially be ''sold'' to outside investors. A project which may not have sufficient income to take advantage of tax benefits, such as the 29 alternative fuel credit, may sell an interest in the project to commercial investors who can use tax credits. The investors provide cash for the project in return for the tax credits, as well as a portion of the income generated by the project. This article outlines how this type of arrangement can be structured and which tax credits are available for ''sale''. It also identifies possible sources of investment money, issues that an investor will likely consider before investing in such a project, and the potential pitfalls of such a project. (author)
Amore, Mario Daniele; Schneider, Cédric; Zaldokas, Alminas
We present evidence that banking development plays a key role in technological progress. We focus on firms’ innovative performance, measured by patent-based metrics, and employ exogenous variations in banking development arising from the staggered deregulation of banking activities across U.S. st...... by a greater ability of deregulated banks to geographically diversify credit risk....
Full Text Available The subject of research presented in this paper refers to the definition of methodology for the development of credit analysis in companies and its application in lending operations in the Republic of Serbia. With the developing credit market, there is a growing need for a well-developed risk and loss prevention system. In the introduction the process of bank analysis of the loan applicant is presented in order to minimize and manage the credit risk. By examining the subject matter, the process of processing the credit application is described, the procedure of analyzing the financial statements in order to get an insight into the borrower's creditworthiness. In the second part of the paper, the theoretical and methodological framework is presented applied in the concrete company. In the third part, models are presented which banks should use to protect against exposure to risks, i.e. their goal is to reduce losses on loan operations in our country, as well as to adjust to market conditions in an optimal way.
I analyze the market for credit ratings with competition between more than two rating agencies. How can honest rating behavior be achieved, and under which conditions can a new honest rating agency successfully invade a market with inflating incumbents? My model predicts cyclic dynamics...
Norden, L.; Wagner, W.B.
This paper examines the relationship between the new markets for credit default swaps (CDS) and the pricing of syndicated loans to U.S. corporates. We find that changes in CDS spreads have a significantly positive coefficient and explain about 25% of subsequent monthly changes in aggregate loan
Alsem, K.J.; Antufjew, J.; Huizingh, K.R.E.; Koning, Ruud H.; Sterken, E.; Woltil, M.
Firms exporting their goods and services abroad face risks that are different from the risks faced by firms who do not engage in international trade. It is common practice to allow the receiving party to pay in instalments. The exporting firm faces credit risk, but as in most countries, Dutch firms
This Brownfi elds Solutions factsheet is intended for brownfields stakeholders interested in how the U.S. Department of the Treasury’s New Markets Tax Credit (NMTC) Program can be used as a financing mechanism in brownfields cleanup and redevelopment.
Full Text Available In the year 2007 was adopted the Publication no. 600 of Paris regarding the Rules and the Uniform Practices for documentary letters of credit which replaced the Publication no. 500. Publication no. 600 (UCP 600 is applied to all the irrevocable documentary letters of credit when the parties make express reference to these Rules. The Publication no. 600 includes uniform rules, international practices and standards of irrevocable documentary letters of credit. The new Publication has brought a number of changes on the issues regarding the performance of the letters of credit, both in the relationship with the nonbanking institutions participants and in the relationship between the credit institutions participating in the performance of the letter of credit. This study, without being exhaustive, aims to capture the main aspects of novelty brought by the publication no. 600 and their legal approach to the new perspective of the international trade relations. It has in view, in particular, the irrevocable character of the letter of credit, the elaboration method and procedure of the letter of credit, the participants to the unfolding of the specific relationship of the letter of credit and the main duties of the involved credit institutions.
... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Government property sales... CONTRACTING PROGRAMS § 125.4 Government property sales assistance. (a) The purpose of SBA's Government property sales assistance program is to: (1) Insure that small businesses obtain their fair share of all...
Full Text Available The issue of corporate governance has become increasingly important as globalisation has begun to accelerate and the economic and financial turmoil have intensified. Post-crisis context has imposed the need to expand the prospects for analysis over governance and companies, as well as the need to identify new ways of administration and resource management. From this perspective, the author aims to highlight the conditions, factors and events that have generated profound changes within the business environment, while the analysis is focusing on contemporary changes in the systems of corporate governance and economic mutations, especially in terms of the companies. The establishment of new governance rules is demanding a theoretical approach based on new methodological requirements which are needed to reform theoretical foundations and to promote creative and effective shapes and governance systems.
Michele S. Moses
Full Text Available The current debate over market-based ideas for educational reform is examined, focusing specifically on the recent movement toward education tax credits. Viewing the Arizona education tax credit law as a voucher plan in sheep's clothing, I argue that the concept of justice underlying the law is a crucial issue largely missing from the school choice debate. I question the libertarian conception of justice assumed by voucher and tax credit advocates, and argue instead that a contemporary liberal democratic conception of justice ought to undergird attempts at school reform. A call for educators and policymakers to concentrate energies on efforts to help needy students rather than on efforts to channel tax dollars toward self- interested ends concludes the article.
Full Text Available Loans make up the bulk of a bank’s assets, and thus credit risk is the most significant risk for commercial banks in Kosovo and throughout the world. Despite its complexity, effective management of credit risk is a prerequisite for the success of a bank and the banking system in general. A special role in this aspect is played by the separation of reserves to cover the risk of failure to repay the loan or in cases of nonfulfilment of contractual obligations by the loan recipient. Therefore, this research aims to address this issue and analyses the credit risk management of the banking system of the Republic of Kosovo in general and the effects of separation of reserves for loan losses in particular.
Shephard, Mark D; Mazzachi, Beryl C; Watkinson, Les; Shephard, Anne K; Laurence, Caroline; Gialamas, Angela; Bubner, Tanya
From September 2005 to February 2007 the Australian Government funded the Point of Care Testing (PoCT) in General Practice Trial, a multi-centre, cluster randomised controlled trial to determine the safety, clinical effectiveness, cost-effectiveness and satisfaction of PoCT in General Practice. In total, 53 practices (23 control and 30 intervention) based in urban, rural or remote locations across three states (South Australia [SA], New South Wales [NSW] and Victoria [VIC]) participated in the Trial. Control practices had pathology testing performed by their local laboratory, while intervention practices conducted pathology testing by PoCT. In total, 4968 patients (1958 control and 3010 intervention) participated in the Trial. The point-of-care (PoC) tests performed by intervention practices were: haemoglobin A1c (HbA1c) and urine albumin:creatinine ratio (ACR) on patients with diabetes, total cholesterol, triglyceride and high density lipoprotein (HDL) cholesterol on patients with hyperlipidaemia, and international normalised ratio (INR) on patients on anticoagulant therapy. Three PoCT devices measured these tests: the Siemens DCA 2000 (Siemens HealthCare Diagnostics, Melbourne, VIC, Australia) for HbA1c and urine ACR; Point of Care Diagnostics Cholestech LDX analyser (Point of Care Diagnostics; Sydney, NSW, Australia) for lipids; and the Roche CoaguChek S (Roche Diagnostics; Sydney, NSW, Australia) for INR. Point-of-care testing in the General Practice Trial was underpinned by a quality management framework which included an on-going training and competency program for PoCT device operators. This article describes the design, implementation and results of the training and competency program. An education and training resource package was developed for the Trial consisting of a training manual, a set of A3 laminated posters and a CD ROM. Five initial training workshops were held for intervention practices from each geographic region between August and October 2005
The main focus of this conference is the management of credit risk for major energy trading and marketing companies. The papers deal with pertinent issues such as the development and implementation of corporate credit risk management policy, credit risk exposure reporting systems, and the quality of ratings in the utility sector. Risk management strategies include quantitative and subjective credit factors, credit scoring, risk mitigation, limit-setting methodologies, measurement of liquidity, capital markets access, portfolio management, and the development of policies, procedures and control. Three presentations were indexed separately for inclusion in the database. refs., tabs., figs
The main focus of this conference is the management of credit risk for major energy trading and marketing companies. The papers deal with pertinent issues such as the development and implementation of corporate credit risk management policy, credit risk exposure reporting systems, and the quality of ratings in the utility sector. Risk management strategies include quantitative and subjective credit factors, credit scoring, risk mitigation, limit-setting methodologies, measurement of liquidity, capital markets access, portfolio management, and the development of policies, procedures and control. Three presentations were indexed separately for inclusion in the database. refs., tabs., figs.
... is upon, e.g., the work in process, the contractor's plant, or the contractor's inventory. Contracting officers may be flexible in the choice of assets. The contract must also give the Government a..., working capital loans, various lines of credit, and revolving credit arrangements. (c) Other assets as...
Tamura, Shinsuke; Yanase, Tatsuro
This paper proposes a mechanism for anonymous credit card systems, in which each credit card holder can conceal individual transactions from the credit card company, while enabling the credit card company to calculate the total expenditures of transactions of individual card holders during specified periods, and to identify card holders who executed dishonest transactions. Based on three existing mechanisms, i.e. anonymous authentication, blind signature and secure statistical data gathering, together with implicit transaction links proposed here, the proposed mechanism enables development of anonymous credit card systems without assuming any absolutely trustworthy entity like tamper resistant devices or organizations faithful both to the credit card company and card holders.
Having trouble with your credit card debt? Below you will find examples of hardship letters. There are several things to consider when writing a credit card hardship letter. A hardship letter is the first step to letting the credit card company know that things are bad. This free credit card hardship letter sample is only a guide in order to start the negotiation. Credit card debt hardship letter example, hardship letter to credit card. If you are having trouble paying off your debt and need ...
Full Text Available With the rapid development of rural micro-credit, whether the qagriculture, rural areas and farmersq problems have been effectively solved, whether the credit risk has been effectively controlled, these have become the focus of our attention to the rural economic environment. The main content of this paper contains four aspects: the classification and characteristics of credit risk, the problems and factors of credit risk, the model and evaluation of credit risk, the countermeasures and suggestions of credit risk. This paper reviews the research of credit risk management for rural credit cooperatives from the above four aspects, and makes a brief summary.
... recent difficulties in mortgage finance markets indicated reduced availability of housing credit in rural... System has been a source of consistent and reliable credit for rural homeowners and that the ability to... afoul of the Administration's proposal to reduce government involvement in the housing finance market...
Full Text Available Nowadays, credit classification models are widely applied because they can help financial decision-makers to handle credit classification issues. Among them, artificial neural networks (ANNs have been widely accepted as the convincing methods in the credit industry. In this paper, we propose a pruning neural network (PNN and apply it to solve credit classification problem by adopting the well-known Australian and Japanese credit datasets. The model is inspired by synaptic nonlinearity of a dendritic tree in a biological neural model. And it is trained by an error back-propagation algorithm. The model is capable of realizing a neuronal pruning function by removing the superfluous synapses and useless dendrites and forms a tidy dendritic morphology at the end of learning. Furthermore, we utilize logic circuits (LCs to simulate the dendritic structures successfully which makes PNN be implemented on the hardware effectively. The statistical results of our experiments have verified that PNN obtains superior performance in comparison with other classical algorithms in terms of accuracy and computational efficiency.
Henke, Sabine; Burghof, Hans-Peter; Rudolph, Bernd
Banks increasingly recognize the need to measure and manage the credit risk of their loans on a portfolio basis. We address the subportfolio "middle market". Due to their specific lending policy for this market segment it is an important task for banks to systematically identify regional and industrial credit concentrations and reduce the detected concentrations through diversification. In recent years, the development of markets for credit securitization and credit derivatives has provided n...
Fountain, Jane E
Digital government is typically defined as the production and delivery of information and services inside government and between government and the public using a range of information and communication technologies. Two types of government relationships with other entities are government-to-citizen and government-to-government relationships. Both offer opportunities and challenges. Assessment of a public health agency's readiness for digital government includes examination of technical, managerial, and political capabilities. Public health agencies are especially challenged by a lack of funding for technical infrastructure and expertise, by privacy and security issues, and by lack of Internet access for low-income and marginalized populations. Public health agencies understand the difficulties of working across agencies and levels of government, but the development of new, integrated e-programs will require more than technical change - it will require a profound change in paradigm.
Full Text Available The article provides an image to the point on information provided to consumers before the conclusion of a credit contract, starting with the importance of information and ending with the legal framework. A high consumer protection may be achieved primarily through consumer information. The complexity of banking services but also the vulnerability of consumers in relation to the banks and the unbalanced relationship led to the need to develop specific legislation that clearly establishes the rights and obligations of the parties of a credit agreement for consumers. In this regard, in 2008, after many debates, Directive 2008/48/EC of the European Parliament and of the Council on credit agreements for consumers was adopted. At national level, the Directive was transposed by the Government Emergency Ordinance no. 50/2010 on credit agreements for consumers. Taking into account national specificities, such as lack of experience of consumers in financial products, the irresponsible lending and the unfair practices of creditors, the national act includes wider provisions than the European Directive, such as those relating to fees limitations or those related to the calculation of the variable interest rate. Also the GEO no 50/2010 applies to all credit agreements concluded by consumers and creditors. As regards the advertising, any advertisement shall include a series of standard information. Also, pre-contractual information is standard information, is provided to consumers 15 days before the contract is concluded and is transmitted through the “European Consumer Credit Information sheet Standard”. The article presents when, how and what information should be given to consumers and insists on the importance of annual percentage rate and to what consumers should pay attention in order to be able to compare different offers.
Yang, Bijou; James, Simon; Lester, David
American university students owned more than twice as many credit cards as British university students. However, scores on a credit card attitude scale predicted the number of cards owned by respondents in both countries.
...) to diversify, credit unions now have the opportunity to market their services to specific employee groups or industries which can reduce the overall risk to the credit unions' health or solvency...
.... State-owned financial institutions play a major role in financing capital expenditure while working capital requirements are mainly met by informal sources of credit. However, future investment requirements and credit needs are greater than currently available.
Siti Rohaya Mat Rahim
Full Text Available Risk governance has evolved tremendously in the banking industry. Risk governance recommends the imperative roles of Chief Risk Officer (CRO to oversee risk. This study explores risk governance influence over the Islamic banks performances. Multivariate analysis techniques measure simultaneously via Structural Equation Modelling (SEM. This study employed cross-sectional sample of 200 Islamic banks across 21 countries for the year 2014. To examine risk governance and Islamic banks performance, the study captures seventeen variables developed from risk management and corporate governance (ROA, ROE, Profit Margin, CRO, Shariah committee member, CEO, board size, remuneration meeting, credit rating, external audit, accounting standard, loan loss provision, capital adequacy ratio, total deposit ratio, GDP, central bank lending rate and inflation. The simulation result reveals, risk governance act as mediating variables towards Islamic banks performance. This study has practical and significance contribution for Islamic banks to understand risk governance, aligning with the fundamental risk management and corporate governance
Rather than in terms of the inevitable demise of a destabilising process of speculation, this article explores the ‘credit crunch’ as a window on the fabrication, and measure of the proportions of a political shift driven by market actors and financial innovation. The Basel process reconceptualised...... banks as risk navigators and generated a competitive hierarchy within the global banking industry determined on a gauge of this capacity. This private regulatory regime promoted market inflation and rendered institutional liquidity and risk transfer definitive of market power. In turn, a ballooning...... credit derivatives market broke the limits of financial production and defined state actions in the face of crisis. A shift from a central concern with solvency to that of liquidity thinly masks a profound redistribution of power from the public to the private. By swapping private assets of uncertain...
Erma Wahdani Permanasari
Full Text Available The purpose of this study is to determine the effect of characteristic of firm to the level of creditrisk. Characteristics of the firm is proxied by size, leverage, spread ownership, net profit margin,return on equity, industry type and scope of the company’s operations. Measurement of level creditrisk uses PT Pefindo bond rating. Annual reports of listed companies in PT Pefindo and IndonesiaStock Exchange (IDX 2010-2011 are collected based on purposive sampling techniques. Thepopulation is 238 companies. Sample used amounted to 84 companies. The analysis model usedin this study is multiple linear regression. Results of this study indicate that the level of corporatecredit risk in Indonesia is high because it is below the 50.00%. The test result of multiple regressionshowed that firm of characteristic affect the level of credit risk. Firm characteristics that affectthe level of credit risk are size, leverage, dispersion of ownership, net profit margin and returnon equity.
Eppinger, Peter; Potrafke, Niklas
We investigate whether globalization influenced credit market deregulation over the period 1970-2010. Globalization is measured by the KOF indices of globalization. Credit market deregulation is measured by the credit market freedom indicators of the Fraser Institute. The results from both cross-sectional and panel regressions using ordinary least squares indicate a positive correlation between globalization and credit market deregulation. We account for reverse causality by using predicted t...
The Texas Air Control Board has begun to develop a system of emission reduction credit training. The system will be developed incrementally over time. The first step, banking of VOC and NO x Emission Reduction Credits, began March 15, 1993. Additional programs under study and development include NO x RACT trading, emission credits for motor vehicle scrappage and alternative fuel conversion, and establishment of community organizations to generate and acquire emission reduction credits for economic development purposes
Sanders, T.L.; Ewing, R.I.; Lake, W.H.
Burnup credit is the application of the effects of fuel burnup to nuclear criticality design. When burnup credit is considered in the design of storage facilities and transportation casks for spent fuel, the objectives are to reduce the requirements for storage space and to increase the payload of casks with acceptable nuclear criticality safety margins. The spent-fuel carrying capacities of previous-generation transport casks have been limited primarily by requirements to remove heat and/or to provide shielding. Shielding and heat transfer requirements for casks designed to transport older spent fuel with longer decay times are reduced significantly. Thus a considerable weight margin is available to the designer for increasing the payload capacity. One method to achieve an increase in capacity is to reduce fuel assembly spacing. The amount of reduction in assembly spacing is limited by criticality and fuel support structural concerns. The optimum fuel assembly spacing provides the maximum cask loading within a basket that has adequate criticality control and sufficient structural integrity for regulatory accident scenarios. The incorporation of burnup credit in cask designs could result in considerable benefits in the transport of spent fuel. The acceptance of burnup credit for the design of transport casks depends on the resolution of system safety issues and the uncertainties that affect the determination of criticality safety margins. The remainder of this report will examine these issues and the integrated approach under way to resolve them. 20 refs., 2 figs
While South Korea and Thailand had relatively sustainable fiscal policies prior to the Asian crisis, the long-term cost of the bailout of their financial sectors amounted to an estimated 30 to 40 percent of output, which was largely financed by public borrowing. The recent credit expansions in South Korea and Thailand have created new contingent liabilities for the governments of the two countries. This paper evaluates the impact of these rapid credit expansions on the sustainability of fisca...
Dora Argentina Cabezas Elizondo
Full Text Available The social policy has been oriented to support of the population in extreme poverty; From the speech, doesn't exist differences between men and women. However, In the development of the social spending, the social policy has been undermined by the gender stigma; That is, when the social policy has been guide to support women. This does not having the purpose of to develop the gender. From more than fifteen years, the organisations insisted on that the authorities not only support the women projects that only are a extension of domestic work, but they continues support only this projects.The purpose of this paper is to analyze the behavior of microcredit and its role in public and social policy, to support micro entrepreneurs women. In this contribution we give ourselves to the task of finding the behavior of this public policy in the state of Colima. Where the government instruments of social and economic policy, designed to provide support according to the genre, will be analyzed. During the period of 2000-2003, the orientation of these and their impact in terms of self-employment and elimination of poverty.We try social credit schemes as an instrument of the federal government to solve the problem of unemployment and increasing poverty, through the implementation of programs that promote self-employment.We will be discussed the experience of these financing schemes in the second level of government, which is the state, based on the analysis of micro loans during the period 2000-2003 in Colima, Mexico.
Roh, TaeWoo; Koo, Ja-Choon; Cho, Dong-Sung; Youn, Yeo-Chang
Under the Kyoto Protocol, a global governmental response to climate change, protocol signatories make an effort to cut their greenhouse gas emissions. South Korea is not included in the list of Annex I countries; yet, South Korea is the seventh highest emitter of CO2. The South Korean government has enacted various institutional policies to encourage greenhouse gas reductions. While previous studies have focused on the guidance that reflects the stance of suppliers in the carbon market, this study focuses on South Korean firms' actual demand for forest carbon credits. By applying the contingent valuation method, we estimated domestic firms' willingness to pay for forest carbon credits. We then applied a rank-ordered logistic regression to confirm whether the rank of forest carbon credits, as compared to any other carbon credit, is influenced by a firm's characteristics. The results showed that Korean firms are willing to pay 5.45 USD/tCO2 and 7.77 USD/tCO2 for forest carbon credits in domestic and overseas forest carbon projects, respectively. Therefore, the introduction of forest carbon credits in the Korean carbon market seems reasonable. Analysis of the priority rankings of forest carbon credits, however, demonstrated that forestry projects were least likely to be ranked by firms as their first priority. Although relative preferences for forest carbon credits were influenced by individual firms' characteristics such as prior experience of environmental CSR related activities and whether the firm established an emissions reduction plan, the impact of perceived behavior control, whether the firm was included in the emissions target management scheme on forest carbon credits was negligible. Therefore, forest carbon credits are not a feasible solution without strong government support or institutional instruments. The results of this study are expected to provide policy makers with realistic approaches to formulate climatic change-related policies. Copyright © 2014
Kjær, Poul F.; Vetterlein, Antje
Regulatory governance frameworks have become essential building blocks of world society. From supply chains to the regimes surrounding international organizations, extensive governance frameworks have emerged which structure and channel a variety of social exchanges, including economic, political...... by the International Transitional Administrations (ITAs) in Kosovo and Iraq as well as global supply chains and their impact on the garment industry in Bangladesh....
Sabel, C.F.; Zeitlin, J.; Levi-Faur, D.
A secular rise in volatility and uncertainty is overwhelming the capacities of conventional hierarchical governance and ‘command-and-control’ regulation in many settings. One significant response is the emergence of a novel, ‘experimentalist’ form of governance that establishes deliberately
The Policy Governance model's philosophical foundations lie in Rousseau's social contract, Greenleaf's servant-leadership, and modern management theory. Policy Governance stresses primacy of the owner-representative role; full-board authority; superintendents as chief executive officers; authoritative prescription of "ends," bounded…
Full Text Available Ministério da EducaçãoSecretaria de Educação Profissional e TecnológicaInstituto Federal de Educação, Ciência e Tecnologia Fluminense Reitor Luiz Augusto Caldas Pereira Pró-Reitor de Ensino Carlos Márcio Lima Pró-Reitor de Pesquisa e Inovação José Augusto Ferreira da Silva Pró-Reitora de Extensão Paula Aparecida Martins Borges BastosEditora-Chefe Inez Barcellos de Andrade Coordenação Editorial do Boletim Maria Inês Paes Ferreira Conselho Editorial Conselho Consultivo Edinalda Almeida da SilvaHelvia Pereira Pinto BastosJefferson Manhães de AzevedoLuiz de Pinedo Quinto JuniorMaria Amelia Ayd CorrêaMaria Inês Paes FerreiraPedro de Azevedo Castelo BrancoRegina Coeli Martins AquinoRogério Atem de CarvalhoRomeu e Silva NetoSaid Sérgio Martins AuattSalvador TavaresSergio VasconcelosSilvia Lúcia dos Santos BarretoSynthio Vieira de AlmeidaVania Cristina Alexandrino BernardoVicente de Paulo Santos OliveiraWander Gomes Ney Adalberto Cardoso (IESP/UERJAntonio Carlos Secchin (UFRJAntônio José da Silva Neto (IPRJ/UERJAsterio Kiyoshi Tanaka (UNIRIO e UFRJErica Maria Pellegrini Caramaschi (UFRJFernando Benedicto Mainier (UFFFernando Pruski (UFVFrancisco de Assis Esteves (UFRJGaudêncio Frigotto (UFFHamilton Jorge de Azevedo (UFRRJHelder Gomes Costa (UFFIná Elias de Castro (UFRJJader Lugon Junior (IFF/UERJ/SENAIJanete Bolite Frant (UNIBANJosé Abdallah Helayël-Neto (CBPF/MCTMiriam Fontelle (UNIFLU e UNESARodrigo Valente Serra (ANPRonaldo Pinheiro da Rocha Paranhos (UENFSérgio Arruda de Moura (UENFVera Lucia Marques da Silva (FBPNVirgínia Maria Gomes de Mattos Fontes (UFF Organizadores deste númeroMaria Inês Paes FerreiraJader Lugon JuniorLuiz de Pinedo Quinto JúniorBolsista de Iniciação CientíficaCamilla Cardoso da Costa Revisão de Língua Portuguesa e Inglesa Edson Carlos NascimentoIsabela Bastos de CarvalhoKissila Ferreira de SouzaPriscila Matos MonkenRosângela Caldas Projeto Gráfico André da Silva CruzEric Moreira Carvalho Diagramação Cláudia Marcia Alves FerreiraFernando Prado de Matos BettencourtMariana de Almeida Reis CapaAndré da Silva Cruz Revisão Técnica e Catalogação Inez Barcellos de Andrade Dados de Catalogação na Publicação (CIP B688 Boletim do Observatório Ambiental Alberto Ribeiro Lamego / InstitutoFederal de Educação, Ciência e Tecnologia Fluminense.Observatório Ambiental Alberto Ribeiro Lamego. - Vol. 1, no. 1(jan./jun. 2011 - .- Campos dos Goytacazes (RJ: Essentia Editora,2011- SemestralCentro Federal de Educação Tecnológica de Campos - CEFET Camposaté 2008. Instituto Federal de Educação, Ciência e Tecnologia - IF Fluminense apartir de 2009. ISSN versão impressa 1981-6197ISSN versão eletrônica 2177-4560 1. Engenharia ambiental. I. Instituto Federal de Educação, Ciência eTecnologia Fluminense. II. Observatório Ambiental Alberto Ribeiro Lamego. CDD - 628 Tiragem: 1000 exemplares Impressão: Meneghitti's Gráfica e Editora Ltda. | Tel.: (21 2136-6999
Full Text Available Ministério da EducaçãoSecretaria de Educação Profissional e TecnológicaInstituto Federal de Educação, Ciência e Tecnologia FluminenseReitorLuiz Augusto Caldas PereiraPró-Reitor de EnsinoCarlos Márcio LimaPró-Reitor de Pesquisa e InovaçãoJosé Augusto Ferreira da SilvaPró-Reitora de ExtensãoPaula Aparecida Martins Borges BastosPró-Reitora de Desenvolvimento InstitucionalAna Lúcia CampinhoCoordenadora da Essentia EditoraKíssila da Conceição RibeiroConselho EditorialConselho ConsultivoDesiely Silva GusmãoEdinalda Almeida da SilvaHelvia Pereira Pinto BastosInez Barcellos de AndradeJefferson Manhães de AzevedoKíssila da Conceição RibeiroLuiz de Pinedo Quinto JuniorMaria Amelia Ayd CorrêaMaria Inês Paes FerreiraPedro de Azevedo Castelo BrancoRegina Coeli Martins AquinoRogério Atem de CarvalhoRomeu e Silva NetoSaid Sérgio Martins AuattSalvador TavaresSergio VasconcelosSilvia Lúcia dos Santos BarretoSynthio Vieira de AlmeidaVania Cristina Alexandrino BernardoVicente de Paulo Santos OliveiraWander Gomes NeyAdalberto Cardoso (IESP/UERJAntonio Carlos Secchin (UFRJAntônio José da Silva Neto (IPRJ/UERJAsterio Kiyoshi Tanaka (UNIRIO e UFRJErica Maria Pellegrini Caramaschi (UFRJFernando Benedicto Mainier (UFFFernando Pruski (UFVFrancisco de Assis Esteves (UFRJGaudêncio Frigotto (UFFHamilton Jorge de Azevedo (UFRRJHelder Gomes Costa (UFFIná Elias de Castro (UFRJJader Lugon Junior (IFF/UERJ/SENAIJanete Bolite Frant (UNIBANJosé Abdallah Helayël-Neto (CBPF/MCTRodrigo Valente Serra (ANPRonaldo Pinheiro da Rocha Paranhos (UENFSérgio Arruda de Moura (UENFVera Lucia Marques da Silva (FBPNVirgínia Maria Gomes de Mattos Fontes (UFFEquipe EditorialRevisão de Língua PortuguesaEdson Carlos NascimentoDenise Rena HaddadRevisão de Língua InglesaHélvia Pereira Pinto BastosCapa, Projeto GráficoAndré da Silva CruzDiagramaçãoCláudia Marcia Alves FerreiraCatalogação e Revisão TécnicaHenrique Barreiros AlvesLogotipoMarcos Antonio Esquef MacielDados de Catalogação na Publicação (CIPV567 Vértices / Instituto Federal de Educação, Ciência e Tecnologia Fluminense. -Vol.1, n. 1 (dez. 1997 - . - Campos dos Goytacazes (RJ: EssentiaEditora, 1997-QuadrimestralCentro Federal de Educação Tecnológica de Campos - CEFET Camposaté 2008. Instituto Federal de Educação, Ciência e Tecnologia -IF Fluminense a partir de jan.2009.ISSN 1415-2843 (versão impressaISSN 1809-2667 (versão eletrônica1. Educação - Periódicos. I. Instituto Federal de Educação, Ciênciae Tecnologia Fluminense.CDD - 370.5Revista Indexada em:Instituto Brasileiro em Ciência e Tecnologia/Sistema de Editoração Eletrônico de Revistas (IBICT/SEERSistema Regional de Información en Línea para Revistas Científicasde América Latina, el Caribe, Espanã y Portugal (LATINDEXDirectory Open Access Journals (DOAJRevista filiada à:Associação Brasileira de Editores CientíficosTiragem: 1000 exemplaresImpressão: Globalprint Editora Gráfica LTDA-ME. | Tel.: (31 3198-1100A revista Vértices é uma publicação científica do Instituto Federal de Educação, Ciência e Tecnologia Fluminense.Os artigos assinados são de responsabilidade exclusiva dos autores e não expressam, necessariamente, a opinião do Conselho Editorial.É permitida a reprodução total ou parcial dos artigos desta revista, desde que citada a fonte.
Full Text Available Ministério da EducaçãoSecretaria de Educação Profissional e TecnológicaInstituto Federal de Educação, Ciência e Tecnologia FluminenseReitorLuiz Augusto Caldas PereiraPró-Reitor de EnsinoCarlos Márcio LimaPró-Reitor de Pesquisa e InovaçãoJosé Augusto Ferreira da SilvaPró-Reitora de ExtensãoPaula Aparecida Martins Borges BastosPró-Reitora de Desenvolvimento InstitucionalAna Lúcia CampinhoEditora-chefeKíssila da Conceição RibeiroConselho EditorialConselho ConsultivoDesiely Silva GusmãoEdinalda Maria Almeida da SilvaHelvia Pereira Pinto BastosInez Barcellos de AndradeJefferson Manhães de AzevedoKíssila da Conceição RibeiroLuiz de Pinedo Quinto JuniorMaria Amelia Ayd CorrêaMaria Inês Paes FerreiraPedro de Azevedo Castelo BrancoRegina Coeli Martins AquinoRogério Atem de CarvalhoRomeu e Silva NetoSaid Sérgio Martins AuattSalvador TavaresSergio VasconcelosSilvia Lúcia dos Santos BarretoSynthio Vieira de AlmeidaVania Cristina Alexandrino BernardoVicente de Paulo Santos OliveiraWander Gomes NeyAdalberto Cardoso (IESP/UERJAntonio Carlos Secchin (UFRJAntônio José da Silva Neto (IPRJ/UERJAsterio Kiyoshi Tanaka (UNIRIO e UFRJErica Maria Pellegrini Caramaschi (UFRJFernando Benedicto Mainier (UFFFernando Pruski (UFVFrancisco de Assis Esteves (UFRJGaudêncio Frigotto (UFFHamilton Jorge de Azevedo (UFRRJHelder Gomes Costa (UFFIná Elias de Castro (UFRJJader Lugon Junior (IFF/UERJ/SENAIJanete Bolite Frant (UNIBANJosé Abdallah Helayël-Neto (CBPF/MCTRodrigo Valente Serra (ANPRonaldo Pinheiro da Rocha Paranhos (UENFSérgio Arruda de Moura (UENFVera Lucia Marques da Silva (FBPNVirgínia Maria Gomes de Mattos Fontes (UFFEquipe EditorialRevisão de Língua PortuguesaEdson Carlos NascimentoDenise Rena HaddadRevisão de Língua InglesaHélvia Pereira Pinto BastosCapa, Projeto GráficoAndré da Silva CruzDiagramaçãoCláudia Marcia Alves FerreiraCatalogação e Revisão TécnicaHenrique Barreiros AlvesLogotipoMarcos Antonio Esquef MacielDados de Catalogação na Publicação (CIPV567 Vértices / Instituto Federal de Educação, Ciência e Tecnologia Fluminense. -Vol.1, n. 1 (dez. 1997 - . - Campos dos Goytacazes (RJ: EssentiaEditora, 1997-QuadrimestralCentro Federal de Educação Tecnológica de Campos - CEFET Camposaté 2008. Instituto Federal de Educação, Ciência e Tecnologia -IF Fluminense a partir de jan.2009.ISSN 1415-2843 (versão impressaISSN 1809-2667 (versão eletrônica1. Educação - Periódicos. I. Instituto Federal de Educação, Ciênciae Tecnologia Fluminense.CDD - 370.5Revista Indexada em:Instituto Brasileiro em Ciência e Tecnologia/Sistema de Editoração Eletrônico de Revistas (IBICT/SEERSistema Regional de Información en Línea para Revistas Científicasde América Latina, el Caribe, Espanã y Portugal (LATINDEXDirectory Open Access Journals (DOAJRevista filiada à:Associação Brasileira de Editores CientíficosTiragem: 1000 exemplaresImpressão: Globalprint Editora Gráfica LTDA-ME. | Tel.: (31 3198-1100A revista Vértices é uma publicação científica do Instituto Federal de Educação, Ciência e Tecnologia Fluminense.Os artigos assinados são de responsabilidade exclusiva dos autores e não expressam, necessariamente, a opinião do Conselho Editorial.É permitida a reprodução total ou parcial dos artigos desta revista, desde que citada a fonte.
Full Text Available Ministério da EducaçãoSecretaria de Educação Profissional e TecnológicaInstituto Federal de Educação, Ciência e Tecnologia Fluminense Reitora Cibele Daher Botelho Monteiro Pró-Reitora de Ensino Fabíola de Amério Ney Silva Pró-Reitor de Pesquisa e Inovação Hélio Gomes Filho Pró-Reitor de Extensão Eugênio Ferreira Naegele da Silva Pró-Reitor de Desenvolvimento Institucional Roberto Moraes Pessanha Editora-chefe Inez Barcellos de AndradeCoordenação Editorial do Boletim Maria Inês Paes Ferreira Conselho Editorial Conselho Consultivo Desiely Silva GusmãoEdinalda Almeida da SilvaHelvia Pereira Pinto BastosInez Barcellos de AndradeJefferson Manhães de AzevedoLuiz de Pinedo Quinto JuniorMaria Amelia Ayd CorrêaMaria Inês Paes FerreiraPedro de Azevedo Castelo BrancoRegina Coeli Martins AquinoRogério Atem de CarvalhoRomeu e Silva NetoSaid Sérgio Martins AuattSalvador TavaresSergio VasconcelosSilvia Lúcia dos Santos BarretoSynthio Vieira de AlmeidaVania Cristina Alexandrino BernardoVicente de Paulo Santos OliveiraWander Gomes Ney Adalberto Cardoso (IESP/UERJAntonio Carlos Secchin (UFRJAntônio José da Silva Neto (IPRJ/UERJAsterio Kiyoshi Tanaka (UNIRIO e UFRJErica Maria Pellegrini Caramaschi (UFRJFernando Benedicto Mainier (UFFFernando Pruski (UFVFrancisco de Assis Esteves (UFRJGaudêncio Frigotto (UFFHamilton Jorge de Azevedo (UFRRJHelder Gomes Costa (UFFIná Elias de Castro (UFRJJader Lugon Junior (IFF/UERJ/SENAIJanete Bolite Frant (UNIBANJosé Abdallah Helayël-Neto (CBPF/MCTMiriam Fontelle (UNIFLU e UNESARodrigo Valente Serra (ANPRonaldo Pinheiro da Rocha Paranhos (UENFSérgio Arruda de Moura (UENFVera Lucia Marques da Silva (FBPNVirgínia Maria Gomes de Mattos Fontes (UFF Apoio TécnicoCarlos David PascoDenia Cristina da Silva BarretoGisele Carvalho da Silva Costa Nogueira Bolsista de Iniciação CientíficaJáder da Mota SiqueiraJúlio Fontoura Gonçalves de LimaSamara Melo RodriguesWanessa Alves Duarte Revisão de Texto Edinalda Maria Almeida da SilvaVania Cristina Alexandrino Bernardo Projeto Gráfico André da Silva CruzEric Moreira Carvalho Diagramação Diego Melo Gomes CapaAndré da Silva Cruz Revisão Técnica Inez Barcellos de Andrade CopidesqueCláudia de Souza CaetanoCatalogação Inez Barcellos de Andrade Dados de Catalogação na Publicação (CIPB688 Boletim do Observatório Ambiental Alberto Ribeiro Lamego / InstitutoFederal de Educação, Ciência e Tecnologia Fluminense.Observatório Ambiental Alberto Ribeiro Lamego. - Vol. 1, no. 1(jan./jun. 2007 - .- Campos dos Goytacazes (RJ: Essentia Editora,2007- SemestralCentro Federal de Educação Tecnológica de Campos - CEFET Camposaté 2008. Instituto Federal de Educação, Ciência e Tecnologia - IF Fluminense apartir de 2009. ISSN versão impressa 1981-6197ISSN versão eletrônica 2177-4560 1. Engenharia ambiental. I. Instituto Federal de Educação, Ciência eTecnologia Fluminense. II. Observatório Ambiental Alberto Ribeiro Lamego. CDD - 628 Tiragem: 1000 exemplaresImpressão: Borzan Indústria Gráfica | Tel.: (22 3211-9274
Full Text Available Ministério da EducaçãoSecretaria de Educação Profissional e TecnológicaInstituto Federal de Educação, Ciência e Tecnologia Fluminense Reitor Luiz Augusto Caldas Pereira Pró-Reitor de Ensino Carlos Márcio Lima Pró-Reitor de Pesquisa e Inovação José Augusto Ferreira da Silva Pró-Reitora de Extensão Paula Aparecida Martins Borges Bastos Pró-Reitora de Desenvolvimento Institucional Ana Lúcia Campinho Coordenadora da Essentia Editora Kíssila da Conceição Ribeiro Conselho Editorial Conselho Consultivo Desiely Silva GusmãoEdinalda Almeida da SilvaHelvia Pereira Pinto BastosInez Barcellos de AndradeJefferson Manhães de AzevedoLuiz de Pinedo Quinto JuniorMaria Amelia Ayd CorrêaMaria Inês Paes FerreiraPedro de Azevedo Castelo BrancoRegina Coeli Martins AquinoRogério Atem de CarvalhoRomeu e Silva NetoSaid Sérgio Martins AuattSalvador TavaresSergio VasconcelosSilvia Lúcia dos Santos BarretoSynthio Vieira de AlmeidaVania Cristina Alexandrino BernardoVicente de Paulo Santos OliveiraWander Gomes Ney Adalberto Cardoso (IESP/UERJAntonio Carlos Secchin (UFRJAntônio José da Silva Neto (IPRJ/UERJAsterio Kiyoshi Tanaka (UNIRIO e UFRJErica Maria Pellegrini Caramaschi (UFRJFernando Benedicto Mainier (UFFFernando Pruski (UFVFrancisco de Assis Esteves (UFRJGaudêncio Frigotto (UFFHamilton Jorge de Azevedo (UFRRJHelder Gomes Costa (UFFIná Elias de Castro (UFRJJader Lugon Junior (IFF/UERJ/SENAIJanete Bolite Frant (UNIBANJosé Abdallah Helayël-Neto (CBPF/MCTRodrigo Valente Serra (ANPRonaldo Pinheiro da Rocha Paranhos (UENFSérgio Arruda de Moura (UENFVera Lucia Marques da Silva (FBPNVirgínia Maria Gomes de Mattos Fontes (UFF Equipe Editorial Revisão de Língua Portuguesa Edson Carlos NascimentoIsabela Bastos de CarvalhoKíssila Ferreira de SouzaPriscila Matos MonkenRosângela Caldas Revisão de Língua Inglesa Hélvia Pereira Pinto Bastos Capa, Projeto Gráfico André da Silva Cruz Diagramação Cláudia Marcia Alves FerreiraMariana de Almeida Reis Revisão Técnica e Catalogação Inez Barcellos de Andrade Logotipo Marcos Antonio Esquef Maciel Dados de Catalogação na Publicação (CIP V567 Vértices / Instituto Federal de Educação, Ciência e Tecnologia Fluminense. -Vol.1, n. 1 (dez. 1997 - . - Campos dos Goytacazes (RJ: EssentiaEditora, 1997- QuadrimestralCentro Federal de Educação Tecnológica de Campos - CEFET Camposaté 2008. Instituto Federal de Educação, Ciência e Tecnologia -IF Fluminense a partir de jan.2009. ISSN 1415-2843 (versão impressaISSN 1809-2667 (versão eletrônica 1. Educação - Periódicos. I. Instituto Federal de Educação, Ciênciae Tecnologia Fluminense. CDD - 370.5 Revista Indexada em: Instituto Brasileiro em Ciência e Tecnologia/Sistema de Editoração Eletrônico de Revistas (IBICT/SEER Sistema Regional de Información en Línea para Revistas Científicasde América Latina, el Caribe, Espanã y Portugal (LATINDEX Directory Open Access Journals (DOAJ Revista filiada à: Associação Brasileira de Editores Científicos Tiragem: 1000 exemplaresImpressão: Impressoart Editora Gráfica Ltda. | Tel.: (41 3348-2728 A revista Vértices é uma publicação científica do Instituto Federal de Educação, Ciência e Tecnologia Fluminense. Os artigos assinados são de responsabilidade exclusiva dos autores e não expressam, necessariamente, a opinião do Conselho Editorial. É permitida a reprodução total ou parcial dos artigos desta revista, desde que citada a fonte.
Full Text Available Diretora Geral Cibele Daher Botelho Monteiro Vice-Diretora Geral Jefferson Manhães de Azevedo Coordenadora de Pós-Graduação Vera Raimunda Amério Asseff Coordenador de Pesquisa Rogério Atem de Carvalho Editora-Chefe Maria Amelia Ayd Correa Coordenação Editorial do Boletim Maria Inês Paes Ferreira Conselho Editorial Dalila Silva MelloMarcos Antonio Cruz MoreiraRoberta de Sousa RamalhoVicente de Paulo Santos de Oliveira Organizadores deste número Maria Inês Paes FerreiraMariana Rodrigues de Carvalhaes PinheiroTathiana Chaves de Souza Apoio Técnico Gisele Carvalho da Silva Costa NogueiraCarlos David Pasco Bolsistas de Iniciação Científica Felipe Eliakim SilvaSamara Melo Rodrigues Revisão de Texto Edinalda Maria Almeida da Silva Projeto Gráfico André da Silva CruzDaniel Marques Sardinha Diagramação Daniel Marques Sardinha Capa Daniel Marques Sardinha Revisão Técnica Flávia Gomes de Abreu SiqueiraVanessa Vasconcelos Lopes Assistente de Editoração Cláudia de Souza Caetano Catalogação Antonio Soares das Chagas Filho Dados de Catalogação na Publicação (CIP Boletim do Observatório Ambiental Alberto Ribeiro Lamego. - Vol. 2, n. 1 (jan./jun. 2008. Centro Federal de Educação Tecnológicade Campos. Observatório Ambiental Alberto Ribeiro Lamego.Campos dos Goytacazes, RJ: Essentia Editora, 2008 - v. : il. 14 cm. SemestralISSN 1981-6197 1. Engenharia ambiental. I. Centro Federal de Educação Tecnológicade Campos. II. Observatório Ambiental Alberto Ribeiro Lamego. CDD - 628 Tiragem: 1000 exemplaresImpressão: Gráfica e Editora GSA | Tel.: (27 3232-1266
Full Text Available Ministério da EducaçãoSecretaria de Educação Profissional e TecnológicaInstituto Federal de Educação, Ciência e Tecnologia Fluminense Reitor Luiz Augusto Caldas Pereira Pró-Reitor de Ensino Carlos Márcio Lima Pró-Reitor de Pesquisa e Inovação José Augusto Ferreira da Silva Pró-Reitora de Extensão Paula Aparecida Martins Borges BastosEditora-Chefe Inez Barcellos de Andrade Coordenação Editorial do Boletim Maria Inês Paes Ferreira Conselho Editorial Conselho Consultivo Edinalda Almeida da SilvaHelvia Pereira Pinto BastosJefferson Manhães de AzevedoLuiz de Pinedo Quinto JuniorMaria Amelia Ayd CorrêaMaria Inês Paes FerreiraPedro de Azevedo Castelo BrancoRegina Coeli Martins AquinoRogério Atem de CarvalhoRomeu e Silva NetoSaid Sérgio Martins AuattSalvador TavaresSergio VasconcelosSilvia Lúcia dos Santos BarretoSynthio Vieira de AlmeidaVania Cristina Alexandrino BernardoVicente de Paulo Santos OliveiraWander Gomes Ney Adalberto Cardoso (IESP/UERJAntonio Carlos Secchin (UFRJAntônio José da Silva Neto (IPRJ/UERJAsterio Kiyoshi Tanaka (UNIRIO e UFRJErica Maria Pellegrini Caramaschi (UFRJFernando Benedicto Mainier (UFFFernando Pruski (UFVFrancisco de Assis Esteves (UFRJGaudêncio Frigotto (UFFHamilton Jorge de Azevedo (UFRRJHelder Gomes Costa (UFFIná Elias de Castro (UFRJJader Lugon Junior (IFF/UERJ/SENAIJanete Bolite Frant (UNIBANJosé Abdallah Helayël-Neto (CBPF/MCTMiriam Fontelle (UNIFLU e UNESARodrigo Valente Serra (ANPRonaldo Pinheiro da Rocha Paranhos (UENFSérgio Arruda de Moura (UENFVera Lucia Marques da Silva (FBPNVirgínia Maria Gomes de Mattos Fontes (UFF Organizadores deste númeroMaria Inês Paes FerreiraJader Lugon JuniorLuiz de Pinedo Quinto JúniorLuiz Felipe Umbelino dos SantosBolsista de Iniciação CientíficaCamilla Cardoso da Costa Revisão de Língua Portuguesa e Inglesa Edson Carlos Nascimento Projeto Gráfico André da Silva CruzEric Moreira Carvalho Diagramação Cláudia Marcia Alves FerreiraDiego Melo Gomes CapaAndré da Silva Cruz Revisão Técnica e Catalogação Inez Barcellos de Andrade CopidesqueEdson Carlos NascimentoDados de Catalogação na Publicação (CIP B688 Boletim do Observatório Ambiental Alberto Ribeiro Lamego / InstitutoFederal de Educação, Ciência e Tecnologia Fluminense.Observatório Ambiental Alberto Ribeiro Lamego. - Vol. 1, no. 1(jan./jun. 2011 - .- Campos dos Goytacazes (RJ: Essentia Editora,2011- SemestralCentro Federal de Educação Tecnológica de Campos - CEFET Camposaté 2008. Instituto Federal de Educação, Ciência e Tecnologia - IF Fluminense apartir de 2009. ISSN versão impressa 1981-6197ISSN versão eletrônica 2177-4560 1. Engenharia ambiental. I. Instituto Federal de Educação, Ciência eTecnologia Fluminense. II. Observatório Ambiental Alberto Ribeiro Lamego. CDD - 628 Tiragem: 1000 exemplaresImpressão: Meneghitti's Gráfica e Editora Ltda. | Tel.: (21 2136-6999
Full Text Available Diretora Geral Cibele Daher Botelho Monteiro Vice-Diretora Geral Jefferson Manhães de Azevedo Coordenadora de Pós-Graduação Vera Raimunda Amério Asseff Coordenador de Pesquisa Rogério Atem de Carvalho Editora-Chefe Maria Amelia Ayd Correa Coordenação Editorial do Boletim Maria Inês Paes Ferreira Conselho Editorial Dalila Silva MelloMarcos Antonio Cruz MoreiraRoberta de Sousa RamalhoVicente de Paulo Santos de Oliveira Organizadores deste número Maria Inês Paes FerreiraMariana Rodrigues de Carvalhaes PinheiroTathiana Chaves de Souza Apoio Técnico Gisele Carvalho da Silva Costa NogueiraCarlos David Pasco Bolsistas de Iniciação Científica Felipe Eliakim SilvaSamara Melo Rodrigues Revisão de Texto Edinalda Maria Almeida da Silva Projeto Gráfico André da Silva CruzDaniel Marques Sardinha Diagramação Daniel Marques Sardinha Capa Daniel Marques SardinhaDiego Tavares Ventapane Lopes Revisão Técnica Flávia Gomes de Abreu SiqueiraVanessa Vasconcelos Lopes Assistente de Editoração Cláudia de Souza Caetano Catalogação Antonio Soares das Chagas Filho Dados de Catalogação na Publicação (CIP Boletim do Observatório Ambiental Alberto Ribeiro Lamego. - Vol. 1, n. 2 (jul./dez. 2007. Centro Federal de Educação Tecnológicade Campos. Observatório Ambiental Alberto Ribeiro Lamego.Campos dos Goytacazes, RJ: Essentia Editora, 2007 - v. : il. 14 cm. SemestralISSN 1981-6197 1. Engenharia ambiental. I. Centro Federal de Educação Tecnológicade Campos. II. Observatório Ambiental Alberto Ribeiro Lamego. CDD - 628 Tiragem: 1000 exemplaresImpressão: GSA Gráfica e Editora | Tel.: (27 3232-1266
... 17 CFR Part 246 Department of Housing and Urban Development 24 CFR Part 267 Credit Risk Retention... 2501-AD53 Credit Risk Retention AGENCIES: Office of the Comptroller of the Currency, Treasury (OCC..., Commission, FHFA, and HUD (the Agencies) are proposing rules to implement the credit risk retention...
... 2501-AD53 Credit Risk Retention AGENCIES: Office of the Comptroller of the Currency, Treasury (OCC... credit risk retention requirements of section 15G of the Securities Exchange Act of 1934, as added by the Dodd-Frank Wall Street Reform and Consumer Protection Act (``Credit Risk NPR'' or ``proposed rule...
Christoffersen, Peter; Du, Du; Elkamhi, Redouane
calibrated to the real economy can simultaneously explain several key empirical regularities in equity, credit, and options markets. Our model captures the empirical level and volatility of credit spreads, generates a flexible credit risk term structure, and provides a good fit to a century of observed...
Christoffersen, Peter; Du, Du; Elkamhi, Redouane
to the real economy and not to bond prices can simultaneously explain several key empirical regularities in credit markets. Our model captures the empirical level and volatility of credit spreads, generates a flexible credit risk term structure, and provides a good fit to a century of observed spreads...
... believes the credit risk of carrying this asset is negligible and warrants such treatment, as CLF stock is... credit union excludes the consolidated assets of such programs from risk-weighted assets pursuant to... paragraphs (c)(3) and (f)(4) and adding new p(h) to read as follows: Sec. 704.6 Credit risk management...
Hochguertel, S.; Alessie, R.; Weber, G.
In this paper we analyse unique data on credit applications received by the leading provider of consumer credit in Italy (Findomestic). The data set covers a five-year period (1995-1999) during which the consumer credit market rapidly expanded in Italy and a new law (the usury law) came into force
have the negative effect of stifling the growth of potential firms, thereby .... credit market may explain the credit rationing behaviour of banks to ... derive policy implications to enhance access to bank credit by SMEs. 4. ..... The main challenges to SMEs identified by the study were non-payment of outstanding ... This decision is.
... CONVERSION MORTGAGE INSURANCE Eligibility; Endorsement Eligible Mortgagors § 206.37 Credit standing. Each mortgagor must have a general credit standing satisfactory to the Secretary. ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Credit standing. 206.37 Section 206...
Klaassen, Chris A.J.
Credit is introduced in acceptance sampling on attributes and a Credit Based Acceptance sampling system is developed that is very easy to apply in practice.The credit of a producer is defined as the total number of items accepted since the last rejection.In our sampling system the sample size for a
... 27 Alcohol, Tobacco Products and Firearms 2 2010-04-01 2010-04-01 false Tax credit. 46.223 Section... for Sale on April 1, 2009 Tax Liability Calculation § 46.223 Tax credit. The dealer is allowed a credit of up to $500 against the total floor stocks tax. However, controlled groups are eligible for only...
... family in kW (sales weighted). The power of each configuration is the rated output in kilowatts as....1307 Credit calculation. For each participating engine family, emission credits (positive or negative... for an engine family whether generating positive or negative in-use emission credits: ER04oc96.053...
Mathews, John A. [Macquarie Graduate School of Management, Macquarie University, Sydney, NSW 2109 (Australia)
The shift to renewable energy options and low-carbon technologies, in response to the concerns over energy security and climate change, is proceeding more slowly than many would like. The usual argument against rapid deployment of new technologies is the costs imposed on the economy, commonly interpreted in terms of upfront costs to be borne or involving large cash transfers to fund, for example, efforts to preserve rainforests. In this contribution I argue that such a perspective provides a continuing barrier to taking effective action, whereas a perspective based on creation and use of carbon credits provides a means of avoiding the shock of abrupt industrial change. Carbon credits granted for bona fide carbon load reductions could be created through private initiative, for example by merchant banks, to constitute a market that will complement regulatory-based initiatives such as national emissions trading systems. This is not a novel idea; indeed it is the way that capitalism has funded every major change, including the Industrial Revolution, through the creation of credit. The emergence of a global carbon credit economy is likely to precede a global regulatory system governing climate change and will doubtless help to stimulate the emergence of such a global system. (author)
Wijk, A.J.M. van; Turkenburg, W.C.
The Dutch Government has stated that by the year 2000 a total amount of 1000 MW wind power should be installed in the Netherlands. The penetration of wind power into the electricity supply system poses questions about the costs and benefits of wind power. One of the parameters affecting the benefits is the amount of conventional capacity that can be saved by wind power, the so-called 'capacity credit'. In this study the capacity credit of wind power in the Netherlands is analysed. The capacity credit is calculated using a probabilistic method which evaluates the loss of load expectation (LOLE) of the total electricity generating system. In these evaluations the available wind power is treated as 'negative load'. The capacity credit is evaluated with respect to the Dutch electricity generating system and the electricity demand that is projected for the year 2000 by the Dutch utilities. Special attention is given to modelling the hourly wind power production. The model incorporates detailed siting information, wind speed data for several meteorological stations and the power curves of five different types of wind turbines. The average amount of electricity produced by wind power can be expressed by the capacity factor. For the set of assumptions and for the meteorological conditions for the years investigated the capacity factor has a value of 22%. 30 refs, 10 figs, 3 tabs
Mathews, John A.
The shift to renewable energy options and low-carbon technologies, in response to the concerns over energy security and climate change, is proceeding more slowly than many would like. The usual argument against rapid deployment of new technologies is the costs imposed on the economy, commonly interpreted in terms of upfront costs to be borne or involving large cash transfers to fund, for example, efforts to preserve rainforests. In this contribution I argue that such a perspective provides a continuing barrier to taking effective action, whereas a perspective based on creation and use of carbon credits provides a means of avoiding the shock of abrupt industrial change. Carbon credits granted for bona fide carbon load reductions could be created through private initiative, for example by merchant banks, to constitute a market that will complement regulatory-based initiatives such as national emissions trading systems. This is not a novel idea; indeed it is the way that capitalism has funded every major change, including the Industrial Revolution, through the creation of credit. The emergence of a global carbon credit economy is likely to precede a global regulatory system governing climate change and will doubtless help to stimulate the emergence of such a global system
Prasuhn, Frederick Carl
U.S. public university system policies were examined to learn how credit hours were determined for asynchronous online education. Findings indicated that (a) credit hour meaning and use are not consistent, (b) primary responsibility for credit hour decisions was at the local level, and (c) no policies exist to guide credit hour application for…
Olle, Vallo, 1966-
Valla/linna põhimääruse õiguslikust regulatsioonist, kohaliku omavalitsuse korralduse seadusest, äriseadustikust, munitsipaalettevõtete ümberkujundamisest ja nende õigusaktide väljunditest Tartu linna põhimääruses ning teistes Tartus tehtud õiguslikes otsustustes
McCall, Michael; Eckrich, Donald W
Researchers have suggested there may be sex differences in attitudes towards credit card possession and use. Undergraduates, 41 men and 41 women, completed a survey regarding their attitudes towards credit, credit card use, and repayment. Analysis indicated sex played a significant moderating role between number of credit cards used and the importance of paying off monthly balances. Women possessed more credit cards than men and engaged in more frequent shopping. Number of credit cards increased with paying off of monthly balances. Data are discussed in terms of the importance of managing credit card debt in an increasingly cashless society.
Loos, Gregory P
Globalization's profound influence on social and political institutions need not be negative. Critics of globalization have often referred to the "Impossible Trinity" because decision-making must 1. respect national sovereignty, 2. develop and implement firm regulation, and 3. allow capital markets to be as free as possible. To many, such goals are mutually exclusive because history conditions us to view policy-making and governance in traditional molds. Thus, transnational governance merely appears impossible because current forms of governance were not designed to provide it. The world needs new tools for governing, and its citizens must seize the opportunity to help develop them. The rise of a global society requires a greater level of generality and inclusion than is found in most policy bodies today. Politicians need to re-examine key assumptions about government. States must develop ways to discharge their regulatory responsibilities across borders and collaborate with neighboring jurisdictions, multilateral bodies, and business. Concepts such as multilateralism and tripartism show great promise. Governments must engage civil society in the spirit of shared responsibility and democratic decision-making. Such changes will result in a renewal of the state's purpose and better use of international resources and expertise in governance.
The u.s. government bulks large in the nation's financial markets. The huge volume of government-issued and -sponsored debt affects the pricing and volume ofprivate debt and, consequently, resource allocation between competing alternatives. What is often not fully appreciated is the substantial influence the federal government wields overresource allocation through its provisionofcreditandrisk-bearing services to the private economy. Because peopleand firms generally seekto avoid risk, atsomeprice they are willing to pay another party to assume the risk they would otherwise face. Insurance companies are a class of private-sector firms one commonly thinks of as providing these services. As the federal government has expanded its presence in the U.S. economy during this century, it has increasingly developed programs aimed at bearing risks that the private sector either would not take on at any price, or would take on but atapricethoughtto besogreatthatmostpotentialbeneficiarieswouldnotpurchase the coverage. To...
Brandtner, Christof; Höllerer, Markus A.; Meyer, Renate E.
of strategy documents in city administration addresses these challenges. Our central claim is that strategy documents can be understood as a distinct discursive device through which local governments enact aspired governance configurations. We illustrate our argument empirically using two prominent examples...... that, while showing similar features and characteristics, are anchored in different administrative traditions and institutional frameworks: the city administrations of Sydney, Australia, and Vienna, Austria. The contribution of the paper is to show how strategy documents enact governance configurations...... along four core dimensions: the setting in space and time, the definition of the public, the framing of the res publica and legitimacy issues. Moreover, our comparative analysis of Sydney and Vienna gives evidence of differences in governance configurations enacted through strategy documents....
Full Text Available A network model of credit risk contagion is presented, in which the effect of behaviors of credit risk holders and the financial market regulators and the network structure are considered. By introducing the stochastic dominance theory, we discussed, respectively, the effect mechanisms of the degree of individual relationship, individual attitude to credit risk contagion, the individual ability to resist credit risk contagion, the monitoring strength of the financial market regulators, and the network structure on credit risk contagion. Then some derived and proofed propositions were verified through numerical simulations.
Luciana Florêncio de Almeida
Full Text Available This article outlines a New Institutional Economics’ approach of rural credit. The mainstream relies in the understanding that the rural credit contracts are hybrid forms in response to the agrichain´s complexity. The object of the research was operational credit contract for soybeans farms. The research consisted on qualitative researches in the extent that they sought to comprehend in a more profound level the rules of game for the rural financing contracting environment based on the economic agent’s perceptions. The results highlighted the agent’s perception that the judicial system is not strong enough to performance an efficient enforcement of the contracts. In response to this institutional challenge, the agents and the government manage adaptations in the contracts, which has been successful in the agent’s point of view. In the other hand, the informational system has showed weaknesses in protecting the creditor’s right. This scenario open breaches to opportunist actions and adverse selection. In order to mitigate these problems the agents govern interdependent transactions as a tool for risk sharing.
Wagner, J.C.; DeHart, M.D.
This report attempts to summarize and consolidate the existing knowledge on axial burnup distribution issues that are important to burnup credit criticality safety calculations. Recently released Nuclear Regulatory Commission (NRC) staff guidance permits limited burnup credit, and thus, has prompted resolution of the axial burnup distribution issue. The reactivity difference between the neutron multiplication factor (keff) calculated with explicit representation of the axial burnup distribution and keff calculated assuming a uniform axial burnup is referred to as the ''end effect.'' This end effect is shown to be dependent on many factors, including the axial-burnup profile, total accumulated burnup, cooling time, initial enrichment, assembly design, and the isotopics considered (i.e., actinide-only or actinides plus fission products). Axial modeling studies, efforts related to the development of axial-profile databases, and the determination of bounding axial profiles are also discussed. Finally, areas that could benefit from further efforts are identified
Vladimir V. Redko
Full Text Available The article is devoted to the issues of the activities of the local government of Japan. Particular attention is drawn to the legal framework and the material basis for the functioning of local self-government bodies. The system of local self-government is considered as a special form of self-government with a specific functional and meaning; system of municipal management and delegation of authority, as well as features of interaction between civil and imperious levels. The allocation of the city with a special status, as well as the financial structure of the local government of Japan, is considered in detail.
John Ashton; Robert S. Hudson
This study examines whether the recent UK regulatory decision to introduce a blanket ban on the joint provision of consumer lending and credit insurance was justified. This case has wide regulatory implications following international concerns that the sale of credit insurance has been detrimental to customers due to overpriced credit insurance and a possible cross subsidy from credit insurance to unsecured lending. To explore this issue a theoretical model is developed considering why a cros...
Tang, Sai; Guan, Zhengfei; Jin, Songqing
Credit markets are an essential economic institution. In developing countries, particularly in countries undergoing rapid social and economic transition, it is important to identify emerging credit demand and institute credit supply in a timely manner to facilitate economic transformation. This research focuses on the evolving rural credit market in China, where borrowing from the social network has been common but the recent economic transition has made this informal credit market inadequate...
Jézabel Couppey-Soubeyran; Jérôme Héricourt
Using a database of more than 1,300 firms from six countries in the MENA region, we study the impact of financial development on the relationship between trade credit on the one hand and bank credit access and firm-level characteristics, especially financial health, on the other hand. Trade credit use increases with the difficulty for gaining access to bank credit, and indicators of the quality of the firm's financial structure negatively influence the use of trade credit. Additional investig...
While functioning in accordance with the new, business and efficiency-oriented operating model, credit unions develop and begin functioning outside the community. It is universally recognised in scientific literature that as credit unions expand their activities beyond a community, social relations with credit union members weaken and the credit unions lose their social control element, which help them to better assess and manage information asymmetry and credit risk. So far, the analysis of ...
Coal-seam methane, along with certain other non-conventional fuels, is eligible for a tax credit. This production tax credit allowed coal-seam methane producers to receive $0.7526 per million Btu of gas sold during 1986. In 1987, this credit rose to $0.78 per million Btu. The tax credit is a very significant element of the economic analysis of current coal-seam methane projects. In today's spot market, gas prices are around $1.50 per million Btu. Allowing for costs of production, the gas producer will net more income from the tax credit than from the sale of the gas. The Crude Oil Windfall Profit Tax Act of 1980 is the source of this tax credit. There were some minor changes made by subsequent legislation, but most of the tax credit has remained intact. Wells must be drilled by 1990 to qualify for the tax credit but the production from such wells is eligible for the tax credit until 2001. Projections have been made, showing that the tax credit should increase to $0.91 per million Btu for production in 1990 and $1.34 per million Btu in 2000. Variables which may decrease the tax credit from these projections are dramatically lower oil prices or general economic price deflation
Full Text Available This paper investigates the effect of inflation volatility on private sector credit growth. The results indicate that private sector credit growth is positively linked to the one period lagged inflation volatility. Given that past monetary policy actions continue to affect the targeted variables due to the substantial lags in the transmission mechanism, the positive response of private sector credit growth to past inflation volatility suggests a credible monetary policy regime in Uganda, which has led to a reduction in the level of macroeconomic uncertainty and the restoration of favorable economic conditions and prospects, thus increasing the demand for credit. Further, the study finds that the lagged private sector credit growth, nominal exchange rate, and inflation have a statistically significant effect on private sector credit growth while financial innovation, interest rates, and GDP growth appear not to be important determinants of private sector credit growth. The robustness of our findings is confirmed by sensitivity checks.
Bolinger, Mark; Wiser, Ryan; Ing, Edwin
The market for grid-connected photovoltaics (PV) in the US has grown dramatically in recent years, driven in large part by PV grant or ''buy-down'' programs in California, New Jersey, and many other states. The recent announcement of a new 11-year, $3.2 billion PV program in California suggests that state policy will continue to drive even faster growth over the next decade. Federal policy has also played a role, primarily by providing commercial PV systems access to tax benefits, including accelerated depreciation (5-year MACRS schedule) and a business energy investment tax credit (ITC). With the signing of the Energy Policy Act of 2005 (EPAct) on August 8, the federal government is poised to play a much more significant future role in supporting both commercial and residential PV systems. Specifically, EPAct increased the federal ITC for commercial PV systems from 10% to 30% of system costs, and also created a new 30% ITC (capped at $2000) for residential solar systems. Both changes went into effect on January 1, 2006, and--absent an extension (for which the solar industry has already begun lobbying)--will last for a period of two years: the new residential ITC will expire, and the 30% commercial ITC will revert back to 10%, on January 1, 2008. How much economic value do these new and expanded federal tax credits really provide to PV system purchasers? And what implications might they hold for state/utility PV grant programs? Using a generic (i.e., non-state-specific) cash flow model, this report explores these questions. We begin with a discussion of the taxability of PV grants and their interaction with federal credits, as this issue significantly affects the analysis that follows. We then calculate the incremental value of EPAct's new and expanded credits for PV systems of different sizes, and owned by different types of entities. We conclude with a discussion of potential implications for purchasers of PV systems, as well as for
Foss, Nicolai Juul; Klein, Peter G.
This chapter reviews and discusses rational-choice approaches to organizational governance. These approaches are found primarily in organizational economics (virtually no rational-choice organizational sociology exists), particularly in transaction cost economics, principal-agent theory...
Oelofse, Suzanna HH
Full Text Available of governance in Africa. The next section focuses on regulation, and the status of the regulatory frameworks in different African countries. Shortcomings in the regulatory framework are highlighted through examples in various countries. Specific policy...
Full Text Available The purpose of this study is to analyze and understand the recently introduced form of managementof a company limited by shares. The Law no. 441/2006, which fundamentally amended Company Law,created this form of controlling the company, the corporate governance, but the legislation does not explicitlydefine what it wants to achieve through this instrument. This topic is recent in research as the theme ofgerman-roman commercial law systems (in French corporate governance system was introduced in 1966 andin Romania in 2006 but in terms of Anglo-Saxon law, the topic has been addressed years since 1776 (AdamSmith: The Wealth of Nations The concept of corporate governance would like, as a result, to establish somerules that companies must comply in order to achieve effective governance, transparent and beneficial forboth shareholders and for the minority. Corporate governance is a key element with an aim at improvingefficiency and economic growth in full accordance with the increase of investors’ confidence. Corporategovernance assumes a series of relationship between the company management, leadership, shareholders andthe other people concerned. Also corporate governance provides for that structure by means of which thecompany’s targets are set out and the means to achieve them and also the manner how to monitor such.
Okun, Michael S
The recent publication of Neurological Eponyms by Peter Koehler and colleagues has revived the interest in neurological eponyms and raised important questions about their use. Many investigators have contributed to the body of knowledge that defines the specialty of neurology. We honor them by associating their names with neurological diseases. The history of neurological eponyms provides us with an opportunity to reexamine the important question of who gets the credit. Additional issues have surfaced including why certain eponyms tend to stick in the literature and others disappear, as well as the important realization that lengthy modern descriptions may require name eponyms for simplification. Eponyms can be confusing as to whether they refer to a disease or a syndrome and this confusion can impact the diagnosis and treatment of patients. There is an inevitable evolution of certain eponyms as our understanding of entities expands. This paper provides an overview of neurological eponyms with the explanation of the potential reasons why names were associated with neurological diseases. These included first case reports, relating isolated cases, years of observation, defining neuroanatomy, physician sufferer, new physical examination maneuvers, academic climate, the advent of a new procedure, fame, and competition amongst investigators. Important issues have surfaced regarding sharing credit amongst investigators, name priority, crediting the wrong investigator, and lack of a defined system to award credit. Since eponym use is based on a peer dependent system, each neurologist must make a more critical appraisal of who gets the credit and understand the differences between diseases and syndromes in order to better preserve neurological history.
Feb 24, 2018 ... ABSTRACT. Electronic Records and Information Management (e-RIM) framework is paramount for ..... RIM issues and problems that led to information crisis. On the other .... Malaysia: A case study in one government agency”.
Ruger, Jennifer Prah
While there is a growing body of work on moral issues and global governance in the fields of global justice and international relations, little work has connected principles of global health justice with those of global health governance for a theory of global health. Such a theory would enable analysis and evaluation of the current global health system and would ethically and empirically ground proposals for reforming it to more closely align with moral values. Global health governance has been framed as an issue of national security, human security, human rights, and global public goods. The global health governance literature is essentially untethered to a theorized framework to illuminate or evaluate governance. This article ties global health justice and ethics to principles for governing the global health realm, developing a theoretical framework for global and domestic institutions and actors.
... 49 Transportation 6 2010-10-01 2010-10-01 false Conditions for trading of credits. 536.8 Section... SAFETY ADMINISTRATION, DEPARTMENT OF TRANSPORTATION TRANSFER AND TRADING OF FUEL ECONOMY CREDITS § 536.8 Conditions for trading of credits. (a) Trading of credits. If a credit holder wishes to trade credits to...
... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Farm Credit bank(s). 619.9140 Section 619.9140 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM DEFINITIONS § 619.9140 Farm Credit bank(s). Except as otherwise defined, the term Farm Credit bank(s) includes Farm Credit Banks...
... investment tax credits. 256.255 Section 256.255 Commodity and Securities Exchanges SECURITIES AND EXCHANGE... investment tax credits. (a) This account shall be credited and account 411.5, Investment tax credit, debited with investment tax credits deferred by companies which do not apply such credits as a reduction of the...
issues of tax jurisdiction, revenue allocation, intergovernmental relations ... The 1999 Nigeria constitution stipulates the functions and powers of the ... systems of government, is characterized with diverse ethnic groups, ... states perceived to be an attempt by the federal government to relate directly to ..... excise taxes on oil.
Florini, Ann; Sovacool, Benjamin K.
This article conceptualizes the energy problems facing society from a global governance perspective. It argues that a notion of 'global energy governance,' taken to mean international collective action efforts undertaken to manage and distribute energy resources and provide energy services, offers a meaningful and useful framework for assessing energy-related challenges. The article begins by exploring the concepts of governance, global governance, and global energy governance. It then examines some of the existing institutions in place to establish and carry out rules and norms governing global energy problems and describes the range of institutional design options available to policymakers. It briefly traces the role of a selection of these institutions, from inter-governmental organizations to summit processes to multilateral development banks to global action networks, in responding to energy issues, and points out their strengths and weaknesses. The article concludes by analyzing how the various approaches to global governance differ in their applicability to addressing the conundrums of global energy problems.
Brown, Dana; Knudsen, Jette Steen
for this phenomenon. Research has tended either to rely on cross-country comparisons that generalize tendencies within given countries; or to over-generalize global trends. The current paper analyzes particular CSR policies in two countries – Denmark and the United Kingdom. We find that the rationales for government...... initiatives on CSR are neither consistent across countries or within them. Instead, CSR policies are utilized to address multiple issues crossing various areas of governance, including domestic social policy, global competitiveness policies and foreign policy....
Considerable interest in the allowance of reactivity credit for the exposure history of power reactor fuel currently exists. This ''burnup credit'' issue has the potential to greatly reduce risk and cost when applied to the design and certification of spent of fuel casks used for transportation and storage. Analyses 1 have shown the feasibility estimated the risk and economic incentives for allowing burnup credit in pressurized water reactor (PWR) spent fuel shipping cask applications. This paper summarizes the extension of the previous PWR feasibility assessments to boiling water reactor (BWR) fuel. As with the PWR analysis, the purpose was not verification of burnup credit (see ref. 2 for ongoing work in this area) but a reasonable assessment of the feasibility and potential gains from its use in BWR applications. This feasibility analysis aims to apply simple methods that adequately characterize the time-dependent isotopic compositions of typical BWR fuel. An initial analysis objective was to identify a simple and reliable method for characterizing BWR spent fuel. The method includes characterization of a typical pin-cell spectrum, using a one-dimensional (1-D) model of a BWR assembly. The calculated spectrum allows burnup-dependent few-group material constants to be generated. Point depletion methods were then used to obtain the time-varying characteristics of the fuel. These simple methods were validated, where practical, with multidimensional methods. 6 refs., 1 tab
Full Text Available Purpose of the article: Purpose of the article is to identify credit monitoring as a keystone of credit risk management in banks. CRM is widely discussed in scientific literature and in reports of institutions undertaking credit risk or supervisory bodies. However majority of such investigations are based on implementation of numerous quantitative or qualitative methods used for credit risk assessment before granting a loan or for credit portfolio risk management. There is a lack of information or investigations made on estimation of the need of credit monitoring in credit risk management process. Scientific aim: Scientific aim is to structure the early warning signs that reflect the condition of credits. Methodology/methods: The paper is based on analysis and resumption of various scientific and professional articles related to organization of credit process in banks. It combines results of assessments of credit monitoring importance in credit risk management process made by theoretical studies as well as investigation of experts. Findings: Finding of the article is presentation of credit monitoring tools that should be applied for corporate (and individual clients via modification of original credit agreement. Conclusions: (limits, implications etc Conclusion of the article is that credit monitoring is a keystone in credit risk management process. The purpose of credit monitoring is to detect in time possible worsening of the loan and to react (make changes in loan agreement. The simplest tool for credit monitoring is to identify early warning signs in time that could be assorted into four groups: EWS of business environment; EWS with regard to management, EWS regarding collateral, EWS in financial analysis. Limitation of investigation is impossibility of evaluation of importance of monitoring process in practice except investigation of experts (employees directly responsible for credit business.
Full Text Available Governing forest ecosystem services as a forest socio-ecological system is an evolving concept in the face of different environmental and social challenges. Therefore, different modes of ecosystem governance such as hierarchical, scientific–technical, and adaptive–collaborative governance have been developed. Although each form of governance offers important features, no one form on its own is sufficient to attain sustainable environmental governance (SEG. Thus, the blending of important features of each mode of governance could contribute to SEG, through a combination of both hierarchical and collaborative governance systems supported by scientifically and technically aided knowledge. This should be further reinforced by the broad engagement of stakeholders to ensure the improved well-being of both ecosystems and humans. Some form of governance and forest management measures, including sustainable forest management, forest certification, and payment for ecosystem services mechanisms, are also contributing to that end. While issues around commodification and putting a price on nature are still contested due to the complex relationship between different services, if these limitations are taken into account, the governance of forest ecosystem services will serve as a means of effective environmental governance and the sustainable management of forest resources. Therefore, forest ecosystem services governance has a promising future for SEG, provided limitations are tackled with due care in future governance endeavors.
Boll, Karen; Brehm Johansen, Mette
to wider international trends within tax administration, especially concerning the development of risk assessments and internal control in the corporations and a greater focus on monitoring of these elements by the tax authorities. Overall, the working paper concludes that Tax Governance as a model......This working paper presents an analysis of the experiences of Cooperative Compliance in Denmark. Cooperative Compliance denotes a specific kind of collaborative program for the regulation of large corporate taxpayers by the tax authorities. Cooperative Compliance programs have been implemented...... in several countries worldwide. In Denmark the program is called Tax Governance. Tax Governance has been studied using qualitative method and the analyses of the working paper build on an extensive base of in-depth interviews – primarily with tax directors from corporations participating in the program...
... Credits 38, LLC, WNC Tax Credits 39, LLC, WNC Housing Tax Credits Manager, LLC and WNC & Associates, Inc... collectively, the ``Funds''), WNC Housing Tax Credits Manager, LLC (the ``Manager'') and WNC & Associates, Inc... credit under the Internal Revenue Code of 1986, as amended. The Manager is a California limited liability...
The Department of Energy sponsored a workshop on the use of burnup credit in the criticality design of spent fuel shipping casks on February 21 and 22, 1988. Twenty-five different presentations on many related topics were conducted, including the effects of burnup credit on the design and operation of spent fuel storage pools, casks and modules, and shipping casks; analysis and physics issues related to burnup credit; regulatory issues and criticality safety; economic incentives and risks associated with burnup credit; and methods for verifying spent fuel characteristics. An abbreviated version of the DOE workshop was repeated as a special session at the November 1988 American Nuclear Society Meeting in Washington, DC. Each of the invited speakers prepared detailed papers on his or her respective topic. The individual papers have been cataloged separately
Wang, Cancan; Medaglia, Rony; Jensen, Tina Blegind
The nature of inter-organizational collaboration between government and other stakeholders is rapidly changing with the introduction of open social media (OSM) platforms. Characterized by a high degree of informality as well as a blurred personal/professional nature, OSM can potentially introduce...... changes and tensions in the well-established routines of the public sector. This paper aims at shedding light on such changes, presenting findings from a study on the use of an OSM platform, WeChat, in an interorganizational collaboration project between government, university, and industry stakeholders...
Riana Iren RADU
Full Text Available With effect from 1 January 2012, according to The NATIONAL BANK of ROMANIA No. 27/2010, International Financial reporting standards (IFRS have become the basis of the accounting system used by credit institutions in Romania. In this context, the regulatory framework relating to the adjustments for impairment of financial assets other than loans and securities is given by IAS39 and IAS 37. In this paper I propose to develop a study on the application of the prudence principle in accounting of credit institutions, a study, which will be the main issues of taxation and accounting implementation of prudent credit institutions.
A number of recent papers seek to distinguish between "money" and "credit" theories of the transmission of monetary disturbances using asymmetric information arguments. In credit models money causes output not only through the real interest rate but also through the availability of bank credit. The research described in this paper extends the work of Kashyap, Stein and Wilcox (1993) who construct a model that incorporates a relationship benefit to bank borrowing and then test the implications...
Hung, Chi-Hsiou D.; Banerjee, Anurag; Meng, Qingrui
Firm circumstances change but rating agencies may not make timely revisions to their\\ud ratings, increasing information asymmetry between firms and the market. We examine\\ud whether firms time the securities market before a credit rating agency publicly reveals\\ud its decision to downgrade a firm's credit rating. Using quarterly data, we show that\\ud firms adjust their financing structures before credit rating downgrades are publicly\\ud revealed. More specifically, firms on average increase t...
Abstract Credit risk is by far the most important risk faced by banks, and it influences the bank profitability and its long-term operation significantly. Well management on credit risk can be a competitive advantage for banks in the competitive banking industry. Chinese banks suffer from serious financial fragility manifested by high proportions of NPLs and low capital adequacy ratios (Bonin and Huang, 2001). This dissertation examines the real credit performance of Chinese banks ba...
Rahman, Ahmad Saufi Abdul
Consumer Credit is a branch of Commercial Law, which has been developing in recent years inMalaysia. The purpose of this paper is to summarize the latest amendments in the consumer credit laws inMalaysia and to highlight its significance. The discussion will be limited to the three most important laws ofconsumer credit in Malaysia: the hire-purchase, money lending and pawn broking laws.
Risto Herrala; Rima Turk-Ariss
We investigate the complex interactions between credit constraints, political instability, and capital accumulation using a novel approach based on Kiyotaki and Moore’s (1997) theoretical framework. Drawing on a unique firm-level data set from Middle-East and North Africa (MENA), empirical findings point to a large and significant effect of credit conditions on capital accumulation and suggest that continued political unrest worsens credit constraints. The results support the view that financ...
I examine a production economy with a financial sector that contains multiple layers of credit. Such layers are designed to constitute credit chains which are inclusive of a simple mortgage market. The focus is on the nature and contagion properties of credit chains in an economy where the financial sector plays a real allocative role and agents have a nontrivial choice of whether to default on mortgages or not. Multiple equilibria with different rates of default are observed, due to the pres...
Foss, Nicolai Juul; Husted, Kenneth; Michailova, Snejina
An under-researched issue in work within the `knowledge movement' is therelation between organizational issues and knowledge processes (i.e., sharingand creating knowledge). We argue that managers can shape formalorganization structure and organization forms and can influence the moreinformal org...... to Anna Grandori for numerous excellent comments on anearlier draft. The standard disclaimer applies.Keywords: Knowledge creation, knowledge sharing, governance, organizationaleconomics, organizational behavior.......An under-researched issue in work within the `knowledge movement' is therelation between organizational issues and knowledge processes (i.e., sharingand creating knowledge). We argue that managers can shape formalorganization structure and organization forms and can influence the moreinformal...... organizational practices in order to foster knowledge sharing andcreation. Theoretically, we unfold this argument by relying on key ideas oforganizational economics and organizational behaviour studies. We put forwarda number of refutable propositions derived from this reasoning.AcknowledgmentsWe are grateful...
Full Text Available Both the production and the use of official statistics are important in the business of government. In New Zealand, concern persists about many government advisors’ low level of statistical capability. One programme designed specifically to enhance capability is New Zealand’s National Certificate of Official Statistics, first introduced in 2007 and originally targeted at government policy analysts and advisors. It now includes participants from many agencies, including the National Statistics Office. The competency-based 40-credit certificate comprises four taught units that aim to give students skills in basic official statistics and in critically evaluating statistical, research, policy, or media publications for their quality (of data, survey design, analysis, and conclusions and appropriateness for some policy issue (e.g., how to reduce problem gambling, together with an ‘umbrella’ workplace-based statistics project. Case studies are used to embed the statistics learning into the real-world context of these students. Several surveys of students and their managers were undertaken to evaluate the effectiveness of the certificate in terms of enhancing skill levels and meeting organisational needs and also to examine barriers to completion of the certificate. The results were used to both modify the programme and extend its international applicability.
Leonid A. Shafirov
Current trends in Russian consumer lending, especially against the backdrop of economic crisis of recent years, highlight increasing relevance of the issue of sustainable household credit behavior. Survey conducted in December 2014 and January 2015 was focused on credit behavior of people who live in small depressed Russian monotown Gukovo (sample size is 80 respondents, with the total population of 65,4 thousand people as of January 1, 2015). The study aimed to provide empirical support for ...
Laura Ard; Alexander Berg
Principles of good governance have been a major component of international financial standards and are seen as essential to the stability and integrity of financial systems. Over the past 10 years much energy and attention have gone to improving the ability of company boards, managers, and owners to prudently navigate rapidly changing and volatile market conditions. So, how to explain the ...
Krause Hansen, Hans; Salskov-Iversen, Dorte
, with clearly defined boundaries between the public and private; and in terms of polycentrism, where power and authority are seen as dispersed among state and nonstate organizations, including business and civil society organizations. Globalization and new media technologies imply changes in the relationship...... democracy and the public sphere; and discourse approaches to studying the intersections of government, organizational change, and information and communication technology....
Andy Knight; David Malone; Faith Mitchell. Finance and Audit Committee. Members: Denis Desautels (Chairman); Ahmed Galal;. Frieda Granot; Elizabeth Parr-Johnston; Andrés Rozental;. Gordon Shirley. Governance Committee. Members: The Honourable Barbara McDougall (Chairman);. Claude-Yves Charron; Denis ...
Laércio Baptista da Silva
Full Text Available This study presents an analysis of the reality of credit unions in Brazil, in view of the singular importance of credit unions for the whole society as an alternative to private resources in favor of members of the community where they are located. It confirms that, in Brazil, the mutual credit unions, besides being presented as one of the viable options within the financial system, are also seen as an alternative by which some sectors of society promote the humanization of the financial system by offering credit and return on capital with fairer interest rates.
He, Jianmin; Sui, Xin; Li, Shouwei
In this paper, an endogenous credit network model of firm-bank agents is constructed. The model describes the endogenous formation of firm-firm, firm-bank and bank-bank credit relationships. By means of simulations, the model is capable of showing some obvious similarities with empirical evidence found by other scholars: the upper-tail of firm size distribution can be well fitted with a power-law; the bank size distribution can be lognormally distributed with a power-law tail; the bank in-degrees of the interbank credit network as well as the firm-bank credit network fall into two-power-law distributions.
Parks, C.V.; Dehart, M.D.; Wagner, J.C.
Since the mid-1980s, a significant number of studies have been directed at understanding the phenomena and parameters important to implementation of burnup credit in out-of-reactor applications involving pressurized-water- reactor (PWR) spent fuel. The efforts directed at burnup credit involving boiling-water-reactor (BWR) spent fuel have been more limited. This paper reviews the knowledge and experience gained from work performed in the United States and other countries in the study of burnup credit. Relevant physics and analysis phenomenon are identified, and an assessment of their importance to burnup credit implementation for transport and dry cask storage is given. (author)
Mariana Rodica ȚÎRLEA
Full Text Available The promissory note represents credit title under private signature, which is regulated by the Law no.58 / 1934 on bills of exchange and promissory notes, subsequently amended by Law no. 83/1994. The promissory note is a cashless payment instrument that takes the form of a printed double sided, on which is labeled information according to the regulations of NBR. Promissory notes issued by the NBR Printing and are approved by Department of Payment and Settlement Bank. In practice, the promissory note is used as cashless payment instrument which necessarily contains the name of the payer and the payee, and it represents unconditional order to pay a specified amount at a certain place at a precise date. The promissory note represents the solution to fluidize commercial transactions.
Ayesha Al Neyadi
Full Text Available Abstract Most people in UAE dont feel safe while they are use the Internet because most internet users have been a victim for cyber crime. Cyber crime threat rate has increased which has targeted on citizen privacy property and governments also the reputation problems. There are many criminal activities such as indecent acts Copyright issues Terrorist Acts State security and Contempt of religion. Cyber crimes due to several reasons such as they have lack of social intelligence they are being greedy and not being content also some of them have financial troubles these reasons usually exploited by criminals. Thus the decree will be a punishment or criminalizes formally on any person who using any kind of information technology and any others private life to blackmail or to threaten others online. In addition at the present time with the most detailed new cybercrime law that can be used to prove found guilty. As well the author discusses that the new cyber-crime law provides protection of personal information including banking information credit cards and electronic payment information.
Full Text Available Capital is the main factor of production, business development becomes virtually impossible without taking into account the financial market and the resources it provides to businesses. Any business, regardless of its degree of development, is involving direct contact with financial markets, namely the institutions that mediate mobilization of capital and the services they provide. Understanding the functioning of the financial system, the specific financial mechanisms through which savings are allocated to support capital investments and the costs and risks involved is essential for the development of a solid base for business. In this context, factoring operations can support economic agents, allowing a transfer of commercial receivables from their holder to a factor who commits to their recovery and guarantee such operations even if temporary or permanent insolvency of the debtor . Thus, factoring is a complex technique in at least two aspects, of the debt and the transfer of credit. . Factoring is a means of financing business, especially export-import transactions, less known in Romania. Maybe because of poor business environment popularize the term is as little known as it was a few years ago the leasing. Present in Romanian legislation since 2002, factoring appears as a contract between one party (called adherent, providing goods or service and a banking company or a financial institution specialized (called factor, which the last one shall finance debts pursuing and preservation against credit risks and adherent gives factor by way of sale, debts arising from the sale of goods or services to third parties. The article is divided into three parts. In the first part we defined the concept of factoring and international factoring, then I presented the advantages and development of factoring in Romania, and the last part conclusions.
The study also found that the major problems militating against tire repair service are fuel scarcity, spare part problem, lack of access to credit and multiple taxes. Based on the findings above, there is the need to refocus government informal sector support instruments through improved funding. The government should also ...
textabstractAbstract This introductory article to the special issue on European Union, development policies and governance discusses how notions of ('good') governance have come to dominate development discourses and policies since the mid-1990s. The article argues that governance was part of the so-called Post-Washington Consensus, which understands governance reform as part of the creation of market societies. Although academics have commonly emphasised the fact that governance concerns the...
Spence, John C; Holt, Nicholas L; Sprysak, Christopher J; Spencer-Cavaliere, Nancy; Caulfield, Timothy
A clear income gradient exists for the sport and physical activity (PA) participation of Canadian children. Governments in Canada recently introduced tax credits to alleviate the financial burden associated with registering a child in organized physical activity (including sport). The majority of these credits, including the Children's Fitness Tax Credit, are non-refundable (i.e., reduces the amount of income tax a person pays). Such credits are useful only for individuals who incur a certain level of tax liability. Thus, low-income families who may pay little or no income tax will not benefit from the presence of non-refundable tax credits. In this commentary, we argue that the non-refundable tax credit is inherently inequitable for promoting PA. We suggest that a combination of refundable tax credits and subsidized programming for low-income children would be more equitable than the current approach of the Canadian government and several provinces that are expending approximately $200 million to support these credits.
Sanders, T.L.; Brady, M.C.; Renier, J.P.; Parks, C.V.
The current approach used for the development and certification of spent fuel storage and transport casks requires an assumption of fresh fuel isotopics in the criticality safety analysis. However, it has been shown that there is a considerable reactivity reduction when the isotopics representative of the depleted (or burned) fuel are used in a criticality analysis. Thus, by taking credit for the burned state of the fuel (i.e., burnup credit), a cask designer could achieve a significant increase in payload. Accurate prediction of k eff for spent fuel arrays depends both on the criticality safety analysis and the prediction of the spent fuel isotopics via a depletion analysis. Spent fuel isotopics can be obtained from detailed multidimensional reactor analyses, e.g. the code PDQ, or from point reactor burnup models. These reactor calculations will help verify the adequacy of the isotopics and determine Δk eff biases for various analysis assumptions (with and without fission products, actinide absorbers, burnable poison rods, etc.). New software developed to interface PDQ multidimensional isotopics with KENO V.a reactor and cask models is described. Analyses similar to those performed for the reactor cases are carried out with a representative burnup credit cask model using the North Anna fuel. This paper presents the analysis methodology that has been developed for evaluating the physics issues associated with burnup credit. It is applicable in the validation and characterization of fuel isotopics as well as in determining the influence of various analysis assumptions in terms of δk eff . The methodology is used in the calculation of reactor restart criticals and analysis of a typical burnup credit cask
Richard Machin explores the background to, and likely impact of, the two-child limit on the child element in Universal Credit and the Child Tax Credit, which was introduced by the Welfare Reform and Work Act 2016
Marius PROFIROIU; Tudorel ANDREI; Gheorghe POPESCU; Alina PROFIROIU
This paper attempts to examine, from the Romanian perspective, the degree to which decentralization process and improvement of local governance contributes to the reduction of corruption in the short and medium term. Through the methodology that is used the paper is consistent with the international trend that endeavors to analyze the impact of corruption on economic and social processes at the local level. In addition, recent research on corruption issues has focused upon the measurement of ...
Perley, James E.
Tenure itself is not the central issue in the debate over faculty tenure; honest faculty evaluation, adequate faculty development, and termination when appropriate are the real issues as are fears that abandonment of the tenure principle would amount to abandonment of the principles of academic freedom and shared governance. (MSE)
Full Text Available As banks have great social responsibility and are a subject to a specific and extensive regulations, one of the being Basel, the authors of this paper focus on the impact of credit risk assessment on credit activity of commercial banks. The authors of this paper provide a standard for risk management and an insight into directions on how to manage credit risk in the most efficient way and how to assess credit rating of a borrower.
Syed Shah ALAM; Ruzita Abdul RAHIM; Ridhwanul HAQ; Atiqur Rahman KHAN
This paper examines empirically antecedents of the credit card debts in young consumers in Malaysia. We examine whether easy access to credit card, credit card related knowledge, aggressive promotion by credit card industry, low minimum payment requirement and attitude towards credit cards influence credit card debts in the younger generation. Regression model was used to meet the objectives. These findings based on a sample of 240 young credit card holders, show that the factors that affect ...
Hai, Rong; Heckman, James J
This paper investigates the determinants of inequality in human capital with an emphasis on the role of the credit constraints. We develop and estimate a model in which individuals face uninsured human capital risks and invest in education, acquire work experience, accumulate assets and smooth consumption. Agents can borrow from the private lending market and from government student loan programs. The private market credit limit is explicitly derived by extending the natural borrowing limit of Aiyagari (1994) to incorporate endogenous labor supply, human capital accumulation, psychic costs of working, and age. We quantify the effects of cognitive ability, noncognitive ability, parental education, and parental wealth on educational attainment, wages, and consumption. We conduct counterfactual experiments with respect to tuition subsidies and enhanced student loan limits and evaluate their effects on educational attainment and inequality. We compare the performance of our model with an influential ad hoc model in the literature with education-specific fixed loan limits. We find evidence of substantial life cycle credit constraints that affect human capital accumulation and inequality. The constrained fall into two groups: those who are permanently poor over their lifetimes and a group of well-endowed individuals with rising high levels of acquired skills who are constrained early in their life cycles. Equalizing cognitive and noncognitive ability has dramatic effects on inequality. Equalizing parental backgrounds has much weaker effects. Tuition costs have weak effects on inequality.
Lie, Celia; Hunt, Maree; Peters, Heather L.; Veliu, Bahrie; Harper, David
The "credit card effect" describes a finding where greater value is given to consumer items if credit card logos are present. One explanation for the effect is that credit cards elicit spending behavior through associative learning. If this is true, social, economic and historical contexts should alter this effect. In Experiment 1, Year…
... credit association investment in farmers' notes given to cooperatives and dealers. 615.5172 Section 615....5172 Production credit association and agricultural credit association investment in farmers' notes... farmers and ranchers eligible to borrow from such associations. (b) Such notes and other obligations...
Calem, P.; Cannon, M.; Nakamura, L.I.
We empirically study how the underlying riskiness of the pool of home equity line of credit originations is affected over the credit cycle. Drawing from the largest existing database of U.S. home equity lines of credit, we use county-level aggregates of these loans to estimate panel regressions on
Pathak, Arohi; Keenan, Nancy
In 1999, Illinois enacted a tuition tax credit program. Tax credit supporters suggest tax credits help low-income students. However, opponents argue that they disproportionately benefit higher-income families whose children are already attending private schools and may decrease already limited resources available to public schools. New data from…
Wagner, John C.; Parks, Cecil V.; Mueller, Don; Gauld, Ian C.
Taking credit for the reduction in reactivity associated with fuel depletion can enable more cost-effective, higher-density storage, transport, disposal, and reprocessing of spent nuclear fuel (SNF) while maintaining sufficient subcritical margin to establish an adequate safety basis. Consequently, there continues to be considerable interest in the United States (U.S.), as well as internationally, in the increased use of burnup credit in SNF operations, particularly related to storage, transport, and disposal of commercial SNF. This interest has motivated numerous technical studies related to the application of burnup credit, both domestically and internationally, as well as the design of SNF storage, transport and disposal systems that rely on burnup credit for maintaining subcriticality. Responding to industry requests and needs, the U.S. Nuclear Regulatory Commission (NRC) initiated a burnup credit research program in 1999, with support from the Oak Ridge National Laboratory (ORNL), to develop regulatory guidance and the supporting technical bases for allowing and expanding the use of burnup credit in pressurized-water reactor SNF storage and transport applications. Although this NRC research program has not been continuous since its inception, considerable progress has been achieved in many key areas in terms of increased understanding of relevant phenomena and issues, availability of relevant information and data, and subsequently updated regulatory guidance for expanded use of burnup credit. This paper reviews technical studies performed by ORNL for the U.S. NRC burnup credit research program. Examples of topics include reactivity effects associated with reactor operating characteristics, fuel assembly characteristics, burnable absorbers, control rods, spatial burnup distributions, cooling time, and assembly misloading; methods and data for validation of isotopic composition predictions; methods and data for validation of criticality calculations; and
Mols, Niels Peter; Hansen, Jesper Rosenberg; Villadsen, Anders Ryom
We suggest that both making and buying the same product or service has several effects on market performance. A model is developed and tested by use of 170 answers gathered from the Danish municipalities. The results support the hypotheses that both making and buying: (1) moderates the negative r...... on how the plurality is measured. The results indicate that internal production may facilitate effective governance of the relationships with suppliers. Implications for research on firm boundaries and for practice are also discussed....
IT governance (control of information technology) is a frequently discussed topic today which represents current needs to take control of IT, judge impacts of all resolutions and lead up investments running to the information technology. It is very important for both small and large organizations to have IT which encourages business strategy and helps to meet objectives of a company. The theoretical part of this paper is focused on characterization of the main areas, benefits, rules and vario...
Full Text Available Local government councils (LGC rely on a number of funding sources including state and federal governments as well as their community constituents to enable them to provide a range of public services. Given the constraints on these funding sources councils need to have in place a range of strategies and policies capable of providing good governance and must appropriately discharge their financial accountabilities. To assist LGC with meeting their governance and accountability obligations they often seek guidance from their key stakeholders. For example, in the Australian State of New South Wales (NSW, the Office of Local Government has developed a set of guidelines, the Internal Audit Guidelines. In 2010 the NSW Office of Local Government issued revised guidelines emphasising that an internal audit committee is an essential component of good governance. In addition, the guidelines explained that to improve the governance and accountability of the councils, these committees should be composed of a majority of independent members. To maintain committee independence the guidelines indicated that the Mayor should not be a member of the committee. However these are only guidelines, not legislated requirements and as such compliance with the guidelines, before they were revised, has been demonstrated to be quite low (Jones & Bowrey 2013. This study, based on a review of NSW Local Government Councils’ 2012/2013 reports, including Annual Reportsrelation to internal audit committees, to determine if the guidelines are effective in improving local government council governance.
Since the passage of the Clean Air Act Amendments in 1990, there has been increasing interest among regulators and business interests alike in innovative, market-based strategies to air quality control. In particular, larger metropolitan areas have begun to examine marketable emission reduction credit (ERC) programs. These programs limit the total allowable emissions in a non-attainment area, allocate these emission open-quotes creditsclose quotes among sources in the region, and allow the sources to redistribute their allowances through trading. This approach provides for the most cost-effective distribution of control burdens among affected sources, taking advantage of the differences in marginal control costs. Some control measures applied to mobile sources may be significantly less expensive than those applied to stationary sources, making mobile sources an excellent candidate for inclusion in an ERC program. However, there are several potential problems involving quantification, enforcement, and credit trading issues that hinder the development of mobile source ERC programs. This paper will evaluate those obstacles and discuss how they are being addressed in a Natural Gas Vehicle (NGV) program currently under development for the Houston ozone non-attainment area. Specifically, the study will outline the credit validation (i.e., quantification) procedure, including baseline emission determination and emission testing for each NGV in the program. In addition, the study will describe the vehicle/fuel consumption tracking system, and discuss issues related to credit trading with stationary sources. Finally, observations are made concerning the applicability of mobile ERC programs for other emission control measures such as old vehicle scrappage and vehicle Inspection and Maintenance programs
Full Text Available The present paper aims to present the level of development reached by Romanian government bond market segment, as part of the country financial market. The analysis will be descriptive (the data series available for Romania are short, based on the secondary data offered by the official bodies involved in the process of issuing and trading the Romanian government bonds (Romanian Ministry of Public Finance, Romanian National Bank and Bucharest Stock Exchange, and also on secondary data provided by the Federation of European Stock Exchanges.To enhance the market credibility as a benchmark, a various combination of measures is necessary; among these measures are mentioned: the extension of the yield curve; the issuance calendars in order to improve transparency; increasing the disclosure of information on public debt issuance and statistics; holding regular meetings with dealers, institutional investors and rating agencies; introducing a system of primary dealers; establishing a repurchase (repo market in the government bond market. These measures will be discussed based on the evolution presented inside the paper.The paper conclude with the fact that, until now, the Romanian government bond market did not provide a benchmark for the domestic financial market and that further efforts are needed in order to increase the government bond market transparency and liquidity.
Examines tuition tax credit programs in framework of Adam Smith's ideas on the economic impact of established churches. Finds that tuition tax credits would amount to state expenditures to relieve the financial burden of parochial school parents and would allow churches to invest commercially to maintain their charitable functions. (JW)
Pinto, Mary Beth; Parente, Diane H.; Palmer, Todd Starr
Examines the relationship between credit card usage, employment, and academic performance among a group of college students with credit cards. Results reveal that the students differed significantly in the level of anxiety felt from carrying debt, perceived need to work, and perceived impact of employment on academic performance. (Contains 57…
Christoffersen, Peter; Jacobs, Kris; Jin, Xisong
We characterize dependence and tail dependence in corporate credit using a new class of dynamic copula models which can capture dynamic dependence and asymmetry in large samples of firms. We also document important differences between the dependence dynamics for credit spreads and equity returns...
... discriminate in any aspect of a credit transaction on the basis of sex, race, color, religion, national origin... with questions about their credit score, even if creditors are not in a position to answer those... best position to identify the key factors that affected the score, and the creditor could rely on that...
... creditors disclose additional information on FCRA adverse action notices. Specifically, a person must... that a creditor obtained information from a consumer reporting agency. Consistent with section 1100F of... action would need to provide a credit score and information relating to that credit score to those...
A credit card is a convenient method of payment, but it does carry risks. The enormous ... Identity theft and the exponential ... Unique Security Features of a Credit Card with the Aim of Identifying ..... technology in an attempt to try and curb the.
This paper provides new insights into the relationship between the supply of credit and the macroeconomy. We present evidence that credit shocks constitute shocks to aggregate supply in that they have a permanent effect on output and cause inflation to rise in the short term. Our results also suggest that the effects on aggregate supply have grown stronger in recent decades.
"Mekong River Regional Development Project advocated by Asian Development Bank (ADB) has been implemented. Trans-Asia Railway and Trans-Asia Highway are being discussed. It is a good opportunity for Asian Export Credit Agencies (ECAs) to cooperate and financing these large crossboarder projects."On May 11, at the 10th Annual Meeting of Asian Export Credit Agencies,
D.G.J. Bongaerts (Dion); K.J.M. Cremers (Martijn); W.N. Goetzmann (William)
textabstractAbstract: This paper explores the role played by multiple credit rating agencies (CRAs) in the market for corporate bonds. Moody’s, S&P and Fitch operate in a competitive setting with market demand for both credit information and the certification value of a high rating. We
Bongaerts, D.; Cremers, K.J.M.; Goetzmann, W.
This paper explores the role played by multiple credit rating agencies (CRAs) in the market for corporate bonds. Moody’s, S&P and Fitch operate in a competitive setting with market demand for both credit information and the certification value of a high rating. We empirically document the outcome of
Fabbri, D.; Menichini, A.M.C.
Assuming that firms’ suppliers are better able to extract value from the liquidation of assets in default and have an information advantage over other creditors, the paper derives six predictions on the use of trade credit. (1) Financially unconstrained firms (with unused bank credit lines) take
... DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR-5411-N-02] Credit Watch Termination Initiative AGENCY: Office of the Assistant Secretary for Housing--Federal Housing Commissioner, HUD. ACTION... FHA Credit Watch Termination Initiative. This notice includes a list of mortgagees which have had...
... DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR-5411-N-01] Credit Watch Termination Initiative AGENCY: Office of the Assistant Secretary for Housing--Federal Housing Commissioner, HUD. ACTION... FHA Credit Watch Termination Initiative. This notice includes a list of mortgagees which have had...
Wellman, Jane V.
Discusses the ways the credit hour has come to be used by public funding systems in higher education. The literature review shows that the credit hour has become a barrier to innovation and a way to create systemic inequities between institutions or sectors in resource allocation. (SLD)
Saad, Shakila; Ahmad, Noryati; Jaffar, Maheran Mohd
Nowadays, credit scoring system plays an important role in banking sector. This process is important in assessing the creditworthiness of customers requesting credit from banks or other financial institutions. Usually, the credit scoring is used when customers send the application for credit facilities. Based on the score from credit scoring, bank will be able to segregate the "good" clients from "bad" clients. However, in most cases the score is useful at that specific time only and cannot be used to forecast the credit worthiness of the same applicant after that. Hence, bank will not know if "good" clients will always be good all the time or "bad" clients may become "good" clients after certain time. To fill up the gap, this study proposes an equation to forecast the credit scoring of the potential borrowers at a certain time by using the historical score related to the assumption. The Mean Absolute Percentage Error (MAPE) is used to measure the accuracy of the forecast scoring. Result shows the forecast scoring is highly accurate as compared to actual credit scoring.
Full Text Available The Global Financial Crisis, which affected various banks, some of them very important banks, highlighted the importance of an accurate credit risk measurement in order to be able to overcome it. There are a variety of such credit risk measurement models, so we can say that banks face a real dilemma when having to choose the most appropriate one. The aim of this paper is to examine the most popular methods used to measure the credit risk and to identify the strengths and the weaknesses of each one of it. The research was accomplished from a double perspective, in which the conceptual methodological approach is correlated to a variety of references to practical actions aiming the measurement and the prevention of credit risk. The study includes the presentation of the objectives of credit risk analysis, the most appropriate moments for doing such an analysis, the steps that have to be done in order to measure the credit risk, the errors that can overcome in the credit risk measurement system, generated by the misclassifications of the studied company, and the presentation of the specific information of financial creditors. The findings expressed in this paper were mainly the result of a qualitative analysis which showed that there is no best model for credit risk measurement, each one having both strengths and weaknesses, some providing a comprehensive analysis of the individual customer’s financial strength others allowing banks permanently monitor fluctuating default risk and identify the possibly problems at an early stage.
Nakamura, L.I.; Roszbach, K.
In this paper we use credit rating data from two Swedish banks to elicit evidence on these banks’ loan monitoring ability. We do so by comparing the ability of bank ratings to predict loan defaults relative to that of public ratings from the Swedish credit bureau. We test the banks’ abilility to
An analysis and further development of the building blocks of modern credit risk management: -Definitions of default -Estimation of default probabilities -Exposures -Recovery Rates -Pricing -Concepts of portfolio dependence -Time horizons for risk calculations -Quantification of portfolio risk -Estimation of risk measures -Portfolio analysis and portfolio improvement -Evaluation and comparison of credit risk models -Analytic portfolio loss distributions The thesis contributes to the evaluatio...
... (including any qualified State individual income tax collected by the Federal Government), war profits tax, excess profits tax, estate tax, or gift tax. An exception is provided under which refunds and credits made after July 1, 1972, and attributable to an election under section 165(h) to deduct a disaster loss...
Lueken, Martin F.
This report follows up on previous work that examined the fiscal effects of private school voucher programs. It estimates the total fiscal effects of tax-credit scholarship programs--another type of private school choice program--on state governments, state and local taxpayers, and school districts combined. Based on a range of assumptions, these…
Simone, Sean Anthony
The federal government invests billions of dollars in grants and loans to help students access and complete postsecondary education. Federal policymakers, therefore, have had a continuing interest in understanding the ability of students to transfer credits between postsecondary institutions. In 2005, the Senate Health, Education, Labor, and…
This study deals with an experimental savings and credit scheme developed for vegetable farmers in West Java, Indonesia, by a technical cooperation project between the governments of Indonesia and The Netherlands. Key elements were:
a) An organizational structure with three