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)
... Flexible and Compressed Work Schedules § 610.408 Use of credit hours. Members of the Senior Executive Service (SES) may not accumulate credit hours under an alternative work schedule. Any credit hours...
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…
Briggs, Gary P.; He, Lerong
Debate concerning the minimum educational requirements of certified public accountant (CPA) candidates in the USA has been taking place for decades. This paper compares the sectional pass rates of CPA candidates from jurisdictions requiring 150 credit hours of college study with the pass rates of candidates from jurisdictions not requiring 150…
Merlin, Clare; Pagano, Timothy; George, Amanda; Zanone, Cassandra; Newman, Benjamin
The Council for Accreditation of Counseling and Related Educational Programs (CACREP) recently released its 2016 standards. Included in these standards is a requirement for school counseling master's programs to have a minimum of 60 credit hours by the year 2020. This credit hour requirement is an increase from the previous 48-hour requirement and…
DeMoranville, Carol W.; O'Donnell, Paula Bogott
Examined whether changing tuition rates to a sliding scale based on the number of credit hours taken will increase 4-year graduation rates. Found that a sliding tuition rate scale does not increase 4-year graduation rates. (EV)
Chressanthis, George A.
Using 1964-1983 enrollment data for a small Michigan state college, this paper charts tuition rate change impacts on college undergraduate headcounts and credit hours over time. Results indicate that student behavior follows the law of demand, varies with class standing, corroborates human capital investment models, and invalidates uniform tuition…
... extensions of credit and not upon any full or partial recourse endorsement or guarantee by the transferor... Loans and Extensions of Credit Appendix to Part 215 Banks and Banking FEDERAL RESERVE SYSTEM BOARD OF... Statutes Total Loans and Extensions of Credit (a)(1) The total loans and extensions of credit by a national...
LogotipoMarcos 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.
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.
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.
Bierstaker, James Lloyd; Howe, Martha A.; Seol, Inshik
In most states, students who sit for the certified public accountant (CPA) examination are now required to have 150 credit hours of college education. In this article, the authors examined the effects of this requirement on the career intentions of women and minorities. The authors collected data from 600 accounting students and the results…
de Oliveira, Ivone Braga; Ramos, Débora Rothstein; Lopes, Karen Lucasechi; de Souza, Regiane Machado; Heimann, Joel Claudio; Furukawa, Luzia Naôko Shinohara
OBJECTIVE: The preservation of biological samples at a low temperature is important for later biochemical and/or histological analyses. However, the molecular viability of thawed samples has not been studied sufficiently in depth. The present study was undertaken to evaluate the viability of intact tissues, tissue homogenates, and isolated total RNA after defrosting for more than twenty-four hours. METHODS: The molecular viability of the thawed samples (n = 82) was assessed using the A260/A280 ratio, the RNA concentration, the RNA integrity, the level of intact mRNA determined by reverse transcriptase polymerase chain reaction, the protein level determined by Western blotting, and an examination of the histological structure. RESULTS: The integrity of the total RNA was not preserved in the thawed intact tissue, but the RNA integrity and level of mRNA were perfectly preserved in isolated defrosted samples of total RNA. Additionally, the level of β-actin protein was preserved in both thawed intact tissue and homogenates. CONCLUSION: Isolated total RNA does not undergo degradation due to thawing for at least 24 hours, and it is recommended to isolate the total RNA as soon as possible after tissue collection. Moreover, the protein level is preserved in defrosted tissues. PMID:22473407
National Aeronautics and Space Administration — The Total Solar Irradiance (TSI) Calibration Transfer Experiment (TCTE) data set TCTE3TSI6 contains 6-hour averaged total solar irradiance (a.k.a solar constant)...
Akbas Yusuf Ekrem
Full Text Available In this study, countries were analyzed between 1990 and 2011 in order to determine whether a causal relationship exists among current account deficit, GDP, foreign direct investment, and total credits of G7. Analysis took into account the cross-sectional dependence and was applied to test the causality among the variables form the panel. Firstly, panel unit root tests were used for determining stationary of variables. As a result of the panel unit root tests, it was found that GDP and foreign direct investment have a stationary structure and that total credits and current account deficit contain unit root. In order to see whether there is a long-term relationship among the variables or not, the panel co-integration test was used. As a result of the test, it was concluded that there is a co-integration relationship among the series. The possibility of a causal relationship was analyzed among the variables using the causality test developed by Elena Ivona Dumitrescu and Christophe Hurlin (2012. Results of the analysis showed a unidirectional causal relationship from current account deficit and foreign direct investment to GDP. Bidirectional causality was found between current account deficit and total credits. Finally, a unidirectional relationship was found from foreign direct investment to current account deficit and total credits.
Purpose-The purpose of this paper is to provide new empirical evidence on the impact of credit risk on China banks' total factor productivity.Design/methodology/approach-The paper employs the Malmquist Productivity Index (MP1) which allows for the examination of five different indices:total factor productivity change (TFPCH);technological change (TECHCH);efficiency change (EFFCH);pure technical efficiency change (PEFFCH);and scale efficiency change (SECH) indices.Findings-The empirical findings indicate that the State Owned Commercial Banks (SOCB),Joint Stock Commercial Banks (JSCB),and City Commercial Banks (CCB) have exhibited lower TFPCH levels with the inclusion of risk factor.It was found that the JSCB and CCB have exhibited lower TFPCH due to TECHCH,while the SOCB have exhibited lower TFPCH due to EFFCH.The empirical findings suggest that the inclusion of credit risk factor has resulted in a higher JSCB EFFCH levels.On the other hand,the SOCB and CCB have exhibited a lower EFFCH levels due to SECH and PEFFCH,respectively.Research limitations/implications-The results clearly highlight the importance of credit risk and lending quality in determining the total factor productivity change of banks operating in the China banking sector.The author demonstrates that the inclusion of credit risk factor has resulted in a lower TFPCH level of all banks operating in the China banking sector.Thus,excluding the credit risk factor from the analysis on the China banking sector may potentially bias the result upwards.Practical impIications-In an environment of heavy government influence over the lending process,a large proportion of loans extended by Chinese banks over the years have gone bad.Policymakers should prevent the flow of new non-performing loans by separating bad clients from banks that are being restructured and recapitalized in the reform of the banking sector.Originality/value-By employing the Malmquist Productivity Index (MPI),the present paper contributes to
medical examinations in the Civil Aviation Medical Center on 18 to 29 May 2015. Several data among other, others, were on demographic and job characteristics, clinical, exercise habits, eating habits, and history of the disease. High systolic blood pressure defined as systolic blood pressure 140 mmHg or more. Results: Of the 690 pilots who conduct periodic health examinations, 428 male pilots willing to participate this study. Age and history of hypertension is the dominant risk factor associated with high systolic blood pressure. When compared with the pilot age 19-39 years, 40-65 years old had 15.1-fold greater risk of high systolic blood pressure [odds ratio (adjusted ORa= 15.12; p= 0.001]. Pilot with a history of hypertension compared to those without a history of having high systolic blood pressure risk 93.2 times larger (ORa= 93.21; p= 0.001. Conclusion: Age of 40-65 years and had history of hypertension increased the riskj of systolic blood pressure among civilian pilot in Indonesia. Key words: systolic blood pressure, total flight hours, civilian pilot, Indonesia
Pritha Maya Savitri
.Methods: This cross-sectional study using using purposive sampling. Subjects answered the questionaire.Data was extracted from the medical record. Cox regression analyses using Stata 10.Results: The subject consisted of 21-45 years old male civilian pilots who performing scheduled medicalcheck up at the Civil Aviatian Medical Centre. We found that 36% of the pilots had mild myopia, and thedominant risk factors were total flight time for 1000 hours or more, parental myopia, as well as irritatedand burning eyes. Those who had compared to did have total flight hours for 1000 hours or more had 28%more risk to have mild myopia [adjusted relative risk (RRa = 1.28; 95% confidence interval (CI = 1.00 to1.64; P = 0.047]. In term of parential myopia, those who had compared who did not have parential myopiahad 32% more risk to have mild myopia (RRa = 1.32; 95% CI = 3.75-7.55; P = 0.000. Moreover, thosewho had compared to who did have irritated and burning eyes had 48% more risk to have mild myopia(RRa = 0.46; 95% CI = 0.26-0.83; P = 0.009.Conclusions: Total flight 1000 hours or more, parental myopia, as well as irritated and burning eyes were dominantrisk factors for mild myopia in civilian pilots in Indonesia. (Health Science Journal of Indonesia 2016;7:49-53Key words: mild myopia, civilian aviator, total flight time, Indonesia.
Pritha Maya Savitri
in civilian aviator and other populatian. This study aims to identify risk factors that affect the incidence of mild myopia in civilian pilot in Indonesia. Methods: This study using cross-sectional method with purposive sampling. Subjects answered the questionaire. Subject of this study are 21-45 years old male civilian aviators which performs scheduled medical check up at Civil Aviatian Medical Centre at May 5 – 21, 2014. The researcher using the medical record to get data about visual acuity. Cox regression analyses using Stata 9. Mild myopia in this study is defect distant visual acuity with corrected lens power -0.25 s/d -0.30. Results: The percentage of mild myopia in this study was 36%. Subjects with a total of 1000 hours of flying hours or more had a 28% higher risk of experiencing mild myopia [relative risk (RRa = 1.28; 95% confidence interval (CI = 1.00 to 1.64; P = 0.047]. A history of parental myopia will increase the risk of mild myopia 5 times (RRa = 5.32, P = 0.000. Subjects with symptoms of difficulty focus has 48% higher risk of experiencing mild myopia (RRa = 1.48, 95% CI = 1.19 to 1.85, P = 0.001. Subjects with symptoms such as eye irritation, gritty, burning has a 54% lower risk of experiencing mild myopia (RRa = 0.46, 95% CI = 0.26-0.83, P = 0.009. Conclusions: Total flight time, parental myopia, visual fatigue; difficulty in focusing and foggy letters are influenced risk factors for mild myopia in civilian aviator in Indonesia. Key words: mild myopia, civilian aviator, total flight time, Indonesia.
Kucukgoz Gulec, Umran; Sucu, Mete; Ozgunen, Fatma Tuncay; Buyukkurt, Selim; Guzel, Ahmet Baris; Paydas, Saime
The predictive value of spot urine protein-to-creatinine ratio (PCR) for estimating total 24-hour proteinuria in severe preeclampsia is unclear. This study aimed to assess the diagnostic accuracy of spot urine PCR for ascertaining the magnitude of proteinuria in women with preeclampsia of varying severity. A total of 205 patients with prediagnosed preeclampsia were included in this prospective cohort study. Patients were allocated into one of the three groups categorized by severity of disease, as follows: gestational hypertension, group 1 (n = 41); preeclampsia, group 2 (n = 88); and severe preeclampsia, group 3 (n = 76). We assessed the spot urine PCRs to determine significant proteinuria and the magnitude of proteinuria in these groups. The spot urine PCR was 0.53, with 81% sensitivity and 93% specificity to detect significant proteinuria. A significant correlation was found between PCR and 24-hour total proteinuria in group 1 (r = 0.473, P = 0.002). There were also significant correlations in group 2 (r = 0.814, P spot urine PCR to estimate 24-hour total proteinuria in severe preeclampsia was Y = 832.02X + 378.74 mg (r 2 = 0.8304). Although 24-hour urine collection remains a merely reliable test to determine the degree of total proteinuria, our findings suggest that it is likely to assess the magnitude of proteinuria by the spot urine PCR, especially in severe preeclampsia. www.clinicaltrials.govNCT01623791. Copyright © 2017 The Society of Obstetricians and Gynaecologists of Canada/La Société des obstétriciens et gynécologues du Canada. Published by Elsevier Inc. All rights reserved.
Full Text Available We present the vertical and temporal dynamics of total vs. particle-attached bacterial abundance and activity over a 5 week period under summer to autumn transition in NW Mediterranean Sea. At a weekly time scale, total bacterial biomass and production in the euphotic layers was significantly correlated with phytoplanktonic biomass. At an hourly time scale, total bacterial biomass responded very rapidly to chlorophyll a fluctuations, suggesting a tight coupling between phytoplankton and bacteria for resource partitioning during the summer-autumn transition. In contrast, no influence of diel changes on bacterial parameters was detected. Episodic events such as coastal water intrusions had a significant positive effect on total bacterial abundance and production, whereas we could not detect any influence of short wind events whatever the magnitude. Finally, we show that particle-attached bacteria can represent a large proportion (up to 49% of the total bacterial activity in the euphotic layer but display rapid and sporadic changes at hourly time scales. In the mesopelagic layers, bacterial abundance and production linearly decreased with depth, except some production peaks at 400–750 m. This study underlines the value of large datasets covering different temporal scales to clarify the biogeochemical role of bacteria in the cycling of organic matter in open seawater.
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...
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...
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...
Lockley, Steven W; Dressman, Marlene A; Licamele, Louis; Xiao, Changfu; Fisher, Dennis M; Flynn-Evans, Erin E; Hull, Joseph T; Torres, Rosarelis; Lavedan, Christian; Polymeropoulos, Mihael H
Most totally blind people have non-24-hour sleep-wake disorder (non-24), a rare circadian rhythm disorder caused by an inability of light to reset their circadian pacemaker. In two consecutive placebo-controlled trials (SET and RESET), we assessed safety and efficacy (in terms of circadian entrainment and maintenance) of once-daily tasimelteon, a novel dual-melatonin receptor agonist. We undertook the placebo-controlled, randomised, double-masked trials in 27 US and six German clinical research centres and sleep centres. We screened totally blind adults (18-75 years of age), who were eligible for the randomisation phase of SET if they had a non-24-hour circadian period (τ) of 24·25 h or longer (95% CI greater than 24·0 and up to 24·9 h), as calculated from measurements of urinary 6-sulphatoxymelatonin rhythms. For SET, we used block randomisation to assign patients (1:1) to receive tasimelteon (20 mg) or placebo every 24 h at a fixed clock time 1 h before target bedtime for 26 weeks. Patients who entered the open-label group receiving tasimelteon in SET or who did not meet the SET inclusion criteria but did meet the RESET inclusion criteria were screened for RESET. A subset of the patients who entered the open-label group before the RESET study and who had eligible τ values were screened for RESET after completing the open-label treatment. In RESET, we withdrew tasimelteon in a randomised manner (1:1) in patients who responded (ie, entrained) after a tasimelteon run-in period. Entrainment was defined as having τ of 24·1 h or less and a 95% CI that included 24·0 h. In SET, the primary endpoint was the proportion of entrained patients, assessed in the intention-to-treat population. The planned step-down primary endpoint assessed the proportion of patients who had a clinical response (entrainment at month 1 or month 7 plus clinical improvement, measured by the Non-24 Clinical Response Scale). In RESET, the primary endpoint was the proportion of non
Savita Rani Singhal
Full Text Available To find shortest and reliable time period of urine collection for determination of proteinuria.It is a prospective study carried out on 125 pregnant women with preeclampsia after 20 weeks of gestation having urine albumin >1 using dipstick test. Urine was collected in five different time intervals in colors labeled containers with the assistance of nursing staff; the total collection time was 24 hours. Total urine protein of two-hour, four-hour, eight-hour, 12-hour and 24-hour urine was measured and compared with 24-hour collection. Data was analyzed using the Pearson correlation coefficient.There was significant correlation (p value < 0.01 in two, four, eight and 12-hour urine protein with 24-urine protein, with correlation coefficient of 0.97, 0.97, 0.96 and 0.97, respectively. When a cut off value of 25 mg, 50 mg. 100 mg, and 150 mg for urine protein were used for 2-hour, 4-hours, 8-hour and 12-hour urine collection, a sensitivity of 92.45%, 95.28%, 91.51%, and 96.23% and a specificity of 68.42%, 94.74%, 84.21% and 84.21% were obtained, respectively.Two-hour urine proteins can be used for assessment of proteinuria in preeclampsia instead of gold standard 24-hour urine collection for early diagnosis and better patient compliance.
Working hours The aim of this thesis that I set was a comprehensive analysis of the working hours issue. The main purpose was to summarize this area of labor law while taking into account the Labour Code amendment which came into force on 1st January 2012. The changes in the related legal terms were also included into this thesis because of the mentioned changes. The thesis is composed of three chapters. Chapter One deals briefly with history of Labour Law and regulatory development. Author`s...
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.
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...
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...
Arab, Lenore; Tseng, Chi-Hong; Ang, Alfonso; Jardack, Patricia
To date, Web-based 24-hour recalls have not been validated using objective biomarkers. From 2006 to 2009, the validity of 6 Web-based DietDay 24-hour recalls was tested among 115 black and 118 white healthy adults from Los Angeles, California, by using the doubly labeled water method, and the results were compared with the results of the Diet History Questionnaire, a food frequency questionnaire developed by the National Cancer Institute. The authors performed repeated measurements in a subset of 53 subjects approximately 6 months later to estimate the stability of the doubly labeled water measurement. The attenuation factors for the DietDay recall were 0.30 for blacks and 0.26 for whites. For the Diet History Questionnaire, the attenuation factors were 0.15 and 0.17 for blacks and whites, respectively. Adjusted correlations between true energy intake and the recalls were 0.50 and 0.47 for blacks and whites, respectively, for the DietDay recall. For the Diet History Questionnaire, they were 0.34 and 0.36 for blacks and whites, respectively. The rate of underreporting of more than 30% of calories was lower with the recalls than with the questionnaire (25% and 41% vs. 34% and 52% for blacks and whites, respectively). These findings suggest that Web-based DietDay dietary recalls offer an inexpensive and widely accessible dietary assessment alternative, the validity of which is equally strong among black and white adults. The validity of the Web-administered recall was superior to that of the paper food frequency questionnaire.
Myocardial thallium-201 kinetics and regional flow alterations with 3 hours of coronary occlusion and either rapid reperfusion through a totally patent vessel or slow reperfusion through a critical stenosis
Granato, J.E.; Watson, D.D.; Flanagan, T.L.; Beller, G.A.
Myocardial thallium-201 kinetics and regional blood flow alterations were examined in a canine model using 3 hours of coronary occlusion and different methods of reperfusion. Group I comprised 10 dogs undergoing a 3 hour left anterior descending artery occlusion and no reperfusion. Group II comprised seven dogs undergoing 3 hours of left anterior descending artery occlusion and rapid reperfusion through a totally patent vessel. Group III comprised 10 dogs undergoing 3 hours of left anterior descending artery occlusion and slow reperfusion through a residual stenosis. All dogs received 1.5 mCi of thallium-201 after 40 minutes of coronary occlusion. During occlusion and 2 hours of reperfusion, serial hemodynamic, blood flow and myocardial thallium-201 activity measurements were made. The relative thallium-201 gradient (normal zone minus ischemic zone activity when initial normal activity is expressed as 100%) during left anterior descending coronary occlusion was similar in all groups. Group I, 87 +/- 3%; Group II, 78 +/- 6%; Group III, 83 +/- 6% (p = NS). After 2 hours of either method of reperfusion, the final relative gradient had decreased to a similar level (Group II, 51 +/- 9%; Group III, 42 +/- 6%). These values were not significantly different from the final relative thallium-201 gradient seen in dogs undergoing a sustained 3 hour occlusion (Group I, 55 +/- 5%). After 2 hours of reperfusion, both methods of reflow were associated with similar degrees of ''no reflow.'' Transmural flows in the central ischemic zone were 89 +/- 10% of normal in Group II and 71 +/- 6% of normal in Group III after reperfusion, with both flows substantially higher than the relative thallium-201 activities in these dogs
Full Text Available It has been hypothesized that obese and reduced-obese individuals have decreased oxidative capacity, which contributes to weight gain and regain. Recent data have challenged this concept.To determine (1 whether total and dietary fat oxidation are decreased in obese and reduced-obese adults compared to lean but increase in response to an acute exercise bout and (2 whether regular physical activity attenuates these metabolic alterations.We measured 24-hr total (whole-room calorimetry and dietary fat (14C-oleate oxidation in Sedentary Lean (BMI = 21.5±1.6; n = 10, Sedentary Obese (BMI = 33.6±2.5; n = 9, Sedentary Reduced-Obese (RED-SED; BMI = 26.9±3.7; n = 7 and in Physically Active Reduced-Obese (RED-EX; BMI = 27.3±2.8; n = 12 men and women with or without an acute exercise bout where energy expended during exercise was not replaced.Although Red-SED and Red-EX had a similar level of fatness, aerobic capacity and metabolic profiles were better in Red-EX only compared to Obese subjects. No significant between-group differences were seen in 24-hr respiratory quotient (RQ, Lean: 0.831±0.044, Obese: 0.852±0.023, Red-SED: 0.864±0.037, Red-EX: 0.842±0.039, total and dietary fat oxidation. A single bout of exercise increased total (+27.8%, p<0.0001 and dietary (+6.6%, p = 0.048 fat oxidation across groups. Although exercise did not impact RQ during the day, it decreased RQ during sleep (p = 0.01 in all groups. Red-EX oxidized more fat overnight than Red-SED subjects under both resting (p = 0.036 and negative energy balance (p = 0.003 conditions, even after adjustment for fat-free mass.Obese and reduced-obese individuals oxidize as much fat as lean both under eucaloric and negative energy balance conditions, which does not support the hypothesis of reduced oxidative capacity in these groups. Reduced-obese individuals who exercise regularly have markers of metabolic health similar to those seen in lean
Cañar, Carlos Andrés Pineda
This article analyzes the concept of an academic credit system and proposes a way to systematize medical specialization programs. The credit system is a way to recognize and standardize the total time that a student must devote to their training. Thus, a credit equal to a certain number of hours of classroom training and independent activities is proposed. An educational program is expressed in the number of credits needed for the whole training process to achieve the competencies expected. A review of the concept of competition in education is also performed. The introduction of the term and its relation to the need to measure performance in future professionals according to labor market needs is identified. A critical discussion about skills defining the different types of skills in the educational field is later discussed. Subsequently, the Colombian regulatory framework is presented concerning the powers, in particular, Decree 1295 of 2010, which defines one academic credit equal to 48 hours in a semester, of which 16 hours are classroom and 32 hours are independent study. A tor of the major milestones in the history of medical education is later made. The structure of credits and contact hours, independent of postgraduate psychiatry in the country is reviewed showing the heterogeneity in their approach. The proposal is presented, defining the types of classroom activities and how to calculate the hours of independent study by type of classroom activity. Copyright © 2012 Asociación Colombiana de Psiquiatría. Publicado por Elsevier España. All rights reserved.
... the crediting of no less than the actual number of hours of service required to be credited under... example, a classification applied so that any employee credited with less than 1,000 hours of service... under this section. (d) Equivalencies based on working time—(1) Hours worked. A plan may determine...
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...
Terink, Rieneke; Balvers, Michiel G J; Hopman, Maria T; Witkamp, Renger F; Mensink, Marco; Gunnewiek, Jacqueline M T Klein
Magnesium is essential for optimal sport performance, generating an interest to monitor its status in athletes. However, before measuring magnesium status in blood could become routine, more insight into its diurnal fluctuations and effects of exercise itself is necessary. Therefore, we measured the effect of an acute bout of exercise on ionized (iMg) and total plasma magnesium (tMg) in blood obtained from 18 healthy well-trained endurance athletes (age, 31.1 ± 8.1 yr.; VO 2max , 50.9 ± 7.5 ml/kg/min) at multiple time points, and compared this with a resting situation. At both days, 7 blood samples were taken at set time points (8:30 fasted, 11:00, 12:30, 13:30, 15:00, 16:00, 18:30). The control day was included to correct for a putative diurnal fluctuation of magnesium. During the exercise day, athletes performed a 90 min bicycle ergometer test (70% VO 2max ) between 11:00 and 12:30. Whole blood samples were analyzed for iMg and plasma for tMg concentrations. Both concentrations decreased significantly after exercise (0.52 ± 0.04-0.45 ± 0.03 mmol/L and 0.81 ± 0.07-0.73 ± 0.06 mmol/L, respectively, p exercise. These findings suggest that timing of blood sampling to analyze Mg status is important. Additional research is needed to establish the recovery time after different types of exercise to come to a general advice regarding the timing of magnesium status assessment in practice.
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
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.
Mansi, Ishak A
In a recent report, the Institute of Medicine recommended more restrictions on residents' working hours. Several problems exist with a system that places a weekly limit on resident duty hours: (1) it assumes the presence of a linear relationship between hours of work and patient safety; (2) it fails to consider differences in intensity among programs; and (3) it does not address increases in the scientific content of medicine, and it places the burden of enforcing the duty hour limits on the Accreditation Council for Graduate Medical Education. An innovative method of calculating credit hours for graduate medical education would shift the focus from "years of residency" to "hours of residency." For example, internal medicine residents would be requested to spend 8640 hours of total training hours (assuming 60 hours per week for 48 weeks annually) instead of the traditional 3 years. This method of counting training hours is used by other professions, such as the Intern Development Program of the National Council of Architectural Registration Boards. The proposed approach would allow residents and program directors to pace training based on individual capabilities. Standards for resident education should include the average number of patients treated in each setting (inpatient or outpatient). A possible set of "multipliers" based on these parameters, and possibly others such as resident evaluation, is devised to calculate the "final adjusted accredited hours" that count toward graduation. Substituting "years of training" with "hours of training" may resolve many of the concerns with the current residency education model, as well as adapt to the demands of residents' personal lives. It also may allow residents to pace their training according to their capabilities and learning styles, and contribute to reflective learning and better quality education.
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....
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.
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.
... 49 Transportation 4 2010-10-01 2010-10-01 false Credit risk premium analysis. 260.17 Section 260... Financial Assistance § 260.17 Credit risk premium analysis. (a) When Federal appropriations are not available to cover the total subsidy cost, the Administrator will determine the Credit Risk Premium...
Estimativa do total de horas abaixo de determinada temperatura-base através das medidas diárias da temperatura do ar Number of hours below any base temperature estimated by daily measurements of air temperature
Luiz B. Angelocci
Full Text Available São propostas equações matemáticas para estimar o total diário de horas abaixo de determinada temperatura-base, em certo período, utilizando-se somente dos valores diários das temperaturas máxima, mínima e das 21 horas (hora local. A comparação entre os totais diários e mensais de "horas de frio" estimados pelas equações propostas e os observados através de termogramas, para várias localidades do Estado de São Paulo, mostrou boa concordância entre os métodos de cálculo. O modelo proposto dispensa o uso de registros contínuos de temperatura. As vantagens de tal estimativa residem na maior disponibilidade de registros de temperaturas máximas, mínimas e das 21 horas, permitindo maior densidade de pontos em trabalhos de zoneamento agroclimático e de cartografia, além da eliminação do processo de cotação de termogramas.Mathematical equations are proposed to estimate the daily number of hours in which the air temperature remains below a determined treshold value. The equations require only daily values of maximum, minimum and 9 p.m. local time temperature, measured inside the meteorological shelter. This technique is suitable for machine computation thus avoiding the tremendous task of quantifying a large number of thermograms. This fact permits the utilization of a greater number of stations in studies of crop zonation and cartography. Good correlations were obtained between estimated and observed data of the daily and monthly total number of hours below 7°C, 13°C and 17°C, for five stations in the State of São Paulo, Brazil, showing relative accuracy of the proposed equations.
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…
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 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...
Collewet, Marion; Sauermann, Jan
This paper studies the link between working hours and productivity using daily information on working hours and performance of a sample of call centre agents. We exploit variation in the number of hours worked by the same employee across days and weeks due to central scheduling, enabling us to estimate the effect of working hours on productivity. We find that as the number of hours worked increases, the average handling time for a call increases, meaning that agents become less productive. Th...
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)
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)
About three quarters of credit card accounts attract interest charges. In the US, credit card debt is $951.7 billion of a total of $2,539.7 billion of consumer credit. In the UK, credit card debt is £55.1 billion of £174.4 billion of consumer credit. The 2005 US Bankruptcy Abuse Prevention and Consumer Protection Act and the 2003 UK Treasury Select Committee's report require lenders to collect a minimum payment of at least the interest accrued each month. Thus people are protected from the ef...
The 18th edition of the Geneva 24 hours swim competition will take place at the Vernets Swimming Pool on the 4th and 5th of October. More information and the results of previous years are given at: http://www.carouge-natation.com/24_heures/home_24_heures.htm Last year, CERN obtained first position in the inter-company category with a total of 152.3 kms swam by 45 participants. We are counting on your support to repeat this excellent performance this year. For those who would like to train, the Livron swimming pool in Meyrin is open as from Monday the 8th September. For further information please do not hesitate to contact us. Gino de Bilio and Catherine Delamare
The 18th edition of the Geneva 24 hours swim competition will take place at the Vernets Swimming Pool on the 4th and 5th of October. More information and the results of previous years are given at: http://www.carouge-natation.com/24_heures/home_24_heures.htm Last year, CERN obtained first position in the inter-company category with a total of 152.3 kms swam by 45 participants. We are counting on your support to repeat this excellent performance this year. For those who would like to train, the Livron swimming pool in Meyrin is open as from Monday the 8th September. For further information please do not hesitate to contact us. Gino de Bilio and Catherine Delamare
Mansi, Ishak A
Background In a recent report, the Institute of Medicine recommended more restrictions on residents' working hours. Several problems exist with a system that places a weekly limit on resident duty hours: (1) it assumes the presence of a linear relationship between hours of work and patient safety; (2) it fails to consider differences in intensity among programs; and (3) it does not address increases in the scientific content of medicine, and it places the burden of enforcing the duty hour limits on the Accreditation Council for Graduate Medical Education. Proposal An innovative method of calculating credit hours for graduate medical education would shift the focus from “years of residency” to “hours of residency.” For example, internal medicine residents would be requested to spend 8640 hours of total training hours (assuming 60 hours per week for 48 weeks annually) instead of the traditional 3 years. This method of counting training hours is used by other professions, such as the Intern Development Program of the National Council of Architectural Registration Boards. The proposed approach would allow residents and program directors to pace training based on individual capabilities. Standards for resident education should include the average number of patients treated in each setting (inpatient or outpatient). A possible set of “multipliers” based on these parameters, and possibly others such as resident evaluation, is devised to calculate the “final adjusted accredited hours” that count toward graduation. Anticipated Benefits Substituting “years of training” with “hours of training” may resolve many of the concerns with the current residency education model, as well as adapt to the demands of residents' personal lives. It also may allow residents to pace their training according to their capabilities and learning styles, and contribute to reflective learning and better quality education. PMID:22379516
Master VBA automation quickly and easily to get more out of Excel Excel VBA 24-Hour Trainer, 2nd Edition is the quick-start guide to getting more out of Excel, using Visual Basic for Applications. This unique book/video package has been updated with fifteen new advanced video lessons, providing a total of eleven hours of video training and 45 total lessons to teach you the basics and beyond. This self-paced tutorial explains Excel VBA from the ground up, demonstrating with each advancing lesson how you can increase your productivity. Clear, concise, step-by-step instructions are combined wit
Samarina, Anna; Zhang, Lu; Bezemer, Dirk
This paper examines effects of the euro introduction on credit cycle coherence in the euro-zone through six channels. We construct and describe credit cycles for total bank credit, household mortgages and non-financial business loans for 16 EMU economies over 1990-2015. Credit cycle coherence is
National Oceanic and Atmospheric Administration, Department of Commerce — Standard hourly observations taken at Weather Bureau/National Weather Service offices and airports throughout the United States. Hourly observations began during the...
Collewet, Marion; Sauermann, Jan
This paper studies the link between working hours and productivity using daily information on working hours and performance of a sample of call centre agents. We exploit variation in the number of hours worked by the same employee across days and weeks due to central scheduling, enabling us to
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...
D. Mitchell; T. Gallagher
Some logging business owners are trying to manage their equipment assets by increasing the scheduled machine hours. The intent is to maximize the total tons produced by a set of equipment. This practice is referred to as multi-shifting, double-shifting, or extended working hours. One area often overlooked is the impact that working non-traditional hours can have on...
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...
Mahata, Puspita; Mahata, Gour Chandra; Kumar De, Sujit
Traditional supply chain inventory modes with trade credit usually only assumed that the up-stream suppliers offered the down-stream retailers a fixed credit period. However, in practice the retailers will also provide a credit period to customers to promote the market competition. In this paper, we formulate an optimal supply chain inventory model under two levels of trade credit policy with default risk consideration. Here, the demand is assumed to be credit-sensitive and increasing function of time. The major objective is to determine the retailer's optimal credit period and cycle time such that the total profit per unit time is maximized. The existence and uniqueness of the optimal solution to the presented model are examined, and an easy method is also shown to find the optimal inventory policies of the considered problem. Finally, numerical examples and sensitive analysis are presented to illustrate the developed model and to provide some managerial insights.
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
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
BenDor, Todd K; Guo, Tianshu; Yates, Andrew J
Ecosystem service markets are popular policy tools for ecosystem protection. Advanced credit releases are an important factor affecting the supply side of ecosystem markets. Under an advanced credit release policy, regulators give ecosystem suppliers a fraction of the total ecosystem credits generated by a restoration project before it is verified that the project actually achieves the required ecological thresholds. In spite of their prominent role in ecosystem markets, there is virtually no regulatory or research literature on the proper design of advanced credit release policies. Using U.S. aquatic ecosystem markets as an example, we develop a principal-agent model of the behavior of regulators and wetland/stream mitigation bankers to determine and explore the optimal degree of advance credit release. The model highlights the tension between regulators' desire to induce market participation, while at the same time ensuring that bankers successfully complete ecological restoration. Our findings suggest several simple guidelines for strengthening advanced credit release policy.
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…
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 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.
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...
Ilsøe, Anna; Larsen, Trine Pernille; Felbo-Kolding, Jonas
Purpose The purpose of this paper is to investigate the effect of part-time work on absolute wages. The empirical focus is wages and working hours in three selected sectors within private services in the Danish labour market – industrial cleaning, retail, hotels and restaurants – and their agreem......Purpose The purpose of this paper is to investigate the effect of part-time work on absolute wages. The empirical focus is wages and working hours in three selected sectors within private services in the Danish labour market – industrial cleaning, retail, hotels and restaurants...... in industrial cleaning includes a minimum floor of 15 weekly working hours – this is not the case in retail, hotels and restaurants. This creates a loophole in the latter two sectors that can be exploited by employers to gain wage flexibility through part-time work. Originality/value The living wage literature...
...; 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 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.
Hot topic: apparent total-tract nutrient digestibilities measured commercially using 120-hour in vitro indigestible neutral detergent fiber as a marker are related to commercial dairy cattle performance.
Schalla, A; Meyer, L; Meyer, Z; Onetti, S; Schultz, A; Goeser, J
Measuring individual feed nutrient concentration is common practice for field dairy nutritionists. However, accurately measuring nutrient digestibility and using digestion values in total digestible nutrients models is more challenging. Our objective was to determine if in vivo apparent total-tract nutrient digestibility measured with a practical approach was related to commercial milk production parameters. Total mixed ration and fecal samples were collected from high-producing cows in pens on 39 commercial dairies and analyzed at a commercial feed and forage testing laboratory for nutrient concentration and 120-h indigestible NDF (iNDF) content using the Combs-Goeser in vitro digestion technique. The 120-h iNDF was used as an internal marker to calculate in vivo apparent nutrient digestibilities. Two samples were taken from each dairy and were separated in time by at least 3 wk. Samples were targeted to be taken within 7d of Dairy Herd Improvement (DHI) herd testing. Approved DHI testers measured individual cow milk weights as well as fat and protein concentrations. Individual cow records were averaged by pen corresponding to the total mixed ration and fecal samples. Formulated diet and dry matter intake (DMI) records for each respective pen were also collected. Mixed model regression analysis with dairy specified as a random effect was used to relate explanatory variables (diet nutrient concentrations, formulated DMI, in vivo apparent nutrient digestibilities, and fecal nutrient concentrations) to milk production measures. Dry matter intake, organic matter (OM) digestibility, fecal crude protein (CP) concentration, and fecal ether extract concentration were related to milk, energy-corrected milk, and fat yields. Milk protein concentration was related to CP digestibility, and milk protein yield was related to DMI, OM digestibility, CP digestibility, and ether extract digestibility. Although many studies have related DMI and OM digestibility to milk production
... 29 Labor 3 2010-07-01 2010-07-01 false The tip wage credit. 531.59 Section 531.59 Labor Regulations Relating to Labor (Continued) WAGE AND HOUR DIVISION, DEPARTMENT OF LABOR REGULATIONS WAGE PAYMENTS UNDER THE FAIR LABOR STANDARDS ACT OF 1938 Interpretations Payment of Wages to Tipped Employees...
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.
Glen Y. Wilson
Full Text Available This article examines the results from the first year (1998 of the Arizona Education Tax Credit program. The tax credit law allows individuals a dollar- for-dollar tax credit of $500 for donations to private schools and a dollar-for-dollar tax credit of $200 for donations to public schools. Although one justification for this statute was that it would help lower income students, the primary beneficiaries of this program tend to be the relatively well off. The author concludes that Arizona's tax credit law increases educational funding inequity in Arizona. Data for 1999, only recently made available, show a 159.1 percent increase in total contributions and an exacerbation of the trends noted here.
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.
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 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.
Pinto, M B; Parente, D H; Palmer, T S
Much has been written in the popular press on credit card use and spending patterns of American college students. The proliferation of credit cards and their ease of acquisition ensure that students today have more opportunities for making more credit purchases than any other generation of college students. Little is known about the relationship between students' attitudes towards materialism and their use of credit cards. A study was conducted at three college campuses in the northeastern part of the United States where a total of 1,022 students were surveyed. Students' attitudes toward use of credit and their credit card balances were evaluated relative to their scores on Richins and Dawson's Materialism Scale (1992). Our findings suggest no significant difference between those individuals scoring high versus low on the Materialism Scale in terms of the number of credit cards owned and the average balance owed. Individuals high on materialism, however, significantly differed in terms of their uses for credit cards and their general attitude toward their use.
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.…
Cátedra Intercultural. UCO
2011 Hours Against Hate is a campaign to stop bigotry and promote respect across lines of culture, religion, tradition, class, and gender. Launched by Special Representative to Muslim Communities Farah Pandith, and Special Envoy to Monitor and Combat Anti-Semitism Hannah Rosenthal, the State Department is asking young people around the world to pledge their time to stop hate—to do something for someone who doesn’t look like you, pray like you, or live like you. We are asking the next generati...
Please note the new opening hours of the gates as well as the intersites tunnel from the 19 May 2009: GATE A 7h - 19h GATE B 24h/24 GATE C 7h - 9h\t17h - 19h GATE D 8h - 12h\t13h - 16h GATE E 7h - 9h\t17h - 19h Prévessin 24h/24 The intersites tunnel will be opened from 7h30 to 18h non stop. GS-SEM Group Infrastructure and General Services Department
TOTAL CHOLESTEROL, HIGH DENSITY LIPOPROTEINS (HDL AND CORTISOL PLASMA LEVELS, AND THEIR BIORHYTMICITY, IN 24 HOURS, THROUGHOUT YEAR, IN IDEAL-POLWARTH RAMS NÍVEIS PLASMÁTICOS DE COLESTEROL TOTAL, LIPOPROTEÍNAS DE ALTA DENSIDADE (HDL E CORTISOL, E SUA BIORRITMICIDADE, EM CARNEIROS IDEAL-POLWARTH
Alcides de Amorim Ramos
Full Text Available To evaluate the mean plasma concentrations of total cholesterol (TC, high density lipoproteins (HDL and cortisol, blood samples were collected of five Ideal-Polwarth rams, maintained at 22?53’S latitude, in semi-confinement, every two months throughout the year, by 24h period, with 2-hour intervals between colects. The TC, changed 40.70?1,11mg/dL (April and 61.48?1,11mg/dL (December, between months, while HDL changed 22.16?0.23mg/dL (December as 33.40?0.23mg/dL (February, but not make evident a circannual rhythm in this levels. The TC presented the lowest value at 16:30h (50.40?1.57mg/dL and the highest value at 8:30h collect (54.67?1.57mg/dL; the HDL lowest level was at 10:30h (27.04?0.33mg/dL and the highest level also at 8:30h collect (28.49?0.33mg/dL, however without permit circadian rhythm determination in your plasma concentrations. Similarly, the cortisol plasma concentrations, between collect months, presents variable, however without demonstrate circadian rhythm in this hormone secretion. In relation to different collection’s moments, throughout months, it wasn’t possible to define, by statistical analysis, a circadian rhythm of cortisol secretion. KEY WORDS: Ovine, adrenal hormone, biochemistry metabolites, circadian rhythm. Visando avaliar as concentrações médias de colesterol total (CT, lipoproteínas de alta densidade (HDL e cortisol plasmáticos, foram colhidas amostras de sangue de cinco carneiros Ideal-Polwarth, alocados em latitude 22°53’S, em regime de semiconfinamento, a cada dois meses, ao longo de um ano, com as colheitas em um período de 24 horas, e intervalos de duas horas entre elas. O CT oscilou entre 40,70±1,11mg/dL (abril e 61,48±1,11mg/dL (dezembro, entre os meses, enquanto HDL variou de 22,16±0,23mg/dL (dezembro a 33,40±0,23mg/dL (fevereiro, mas não evidenciando um ritmo circanual em seus níveis. O CT apresentou seu valor mínimo na colheita das 16h30min (50,40±1,57mg/dL e o máximo às 8h30min
... 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...
This article provides a framework for determining, justifying, and improving financial sustainability of savings and credit programs. Credit programs have income from interest and fees. Income must pay for the cost of funds, loan write-offs, operating costs, and inflation. Reference is made to Otero and Rhyne's four levels of self-sufficiency in credit programs. The Grameen Bank is an example of Level 3 and most credit unions are level 4. Nongovernmental groups in the United Kingdom are level 1 or 2. Experience has shown that removal of subsidies did not affect the quality of services or shift benefits away from the poor. Success in serving poorer people better is attributed 1) to more money being available for lending under tighter management practices, 2) to greater openness to a variety of clients from removal of subsidy restrictions, 3) to a shift to higher interest rates that eliminate richer borrowers, and 4) to a shift to serious collection of loans which is a disincentive to more privileged borrowers. Percentages of loan loss, administration costs, cost of funds, and inflation are useful in measuring the sustainability of credit programs. Interest and fee income must also be measured. Fee repayment rates do not have a common definition of arrears, default, and write-off. A simple measure is the percentage of total costs covered by income. The World Bank recommends the Subsidy Dependence Index. Women tend to be better at repaying loans. Loan size should be related to borrowers' ability to handle the amount of the loan. Low and subsidized interest rates deter depositors and attract richer borrowers. Poorer borrowers are attracted by access to credit and not the cost of credit. Interest rates should be based on market rates. The loan payment should be no longer than necessary. Small groups of borrowers can guarantee each others loans. Group-based loan schemes work best. NGOs must project an image of being serious about loan collections and must take action
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...
Shahzad, Syed Jawad Hussain; Kayani, Ghulam Mujtaba; Raza, Syed Ali; Shah, Nida; Al-Yahyaee, Khamis H.
We examine the connectedness between US industry-level credit markets, using both Credit Default Spread (CDS) changes and volatilities, over the period from December 17, 2007, to November 13, 2015. The total, net directional and pairwise spillovers are estimated based on the generalized VAR framework developed by Diebold and Yilmaz (2012). The empirical analysis shows strong interactions for CDS spread change and volatility among all ten industries. Consumer Services and Basic Materials are the significant risk transmitters. Economic policy uncertainty and different market volatilities significantly determine credit market risk spillovers which also increase during market turbulence situations indicating a possible contagion effect. Implications of the findings are discussed.
Finck, P.J.; Stenberg, C.G.
The US Department of Energy (DOE) is currently working toward the licensing of a methodology for using actinide-only burnup credit for the transportation of spent nuclear fuel (SNF). Important margins are built into this methodology. By using comparisons with a representative experimental database to determine bias factors, the methodology ensures that actinide concentrations and worths are estimated conservatively; furthermore, the negative net reactivity of certain actinides and all fission products (FPs) is not taken into account, thus providing additional margin. A future step of DOE's effort might aim at establishing an actinide and FP burnup credit methodology. The objective of this work is to establish the uncertainty to be applied to the total FP worth in SNF. This will serve two ends. First, it will support the current actinide-only methodology by demonstrating the margin available from FPs. Second, it will identify the major contributions to the uncertainty and help set priorities for future work
Tahereh Shirzad Kebria
Full Text Available This paper presents an empirical investigation to determine factors influencing on loan repayment in one of Iranian banks named Sepah Bank over the period 2012-2013. The study selects a sample of 290 bank’s customers who received loans and, using logistic regression technique, tries to find whether or not qualitative as well as quantitative characteristics of loan receivers influence on repayment of loans. The results indicate that history of outstanding debt as well as customers’ past experiences with banks had meaningful relationships with having bad credit and non-payment of loans. In our survey, having a bad credit in the past had positive relationship with non-payment of loans but long-term customers had negative relationship with non-payment of loans. In addition, working capital turnover ratio, cash ratio, total liabilities, current assets and loan value had significant impact on non-repayment of the loan facilities.
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.
Johnson, William R.
Hours constraints are typically identified by worker responses to questions asking whether they would prefer a job with more hours and more pay or fewer hours and less pay. Because jobs with different hours but the same rate of pay may be infeasible when there are fixed costs of employment or mandatory overtime premia, the constraint in those…
Observations on munition workers, most of them women, are organized to examine the relationship between their output and their working hours. The relationship is nonlinear: below an hours threshold, output is proportional to hours; above a threshold, output rises at a decreasing rate as hours increase. Implications of these results for the estimation of labor supply functions are taken up. The findings also link up with current research on the effects of long working hours on accidents and in...
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...
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...
The second questionnaire for scientists and engineers was carried out in 2007, and status of Japanese scientists and engineers were analyzed and reported. A part of the data was reanalyzed from the viewpoint of work life balance. In particular, office/laboratory staying hour and home working hour were analyzed and dependences on various factors were investigated. It was found that these hours depend on gender, marital status, number of child, employment status and age. In addition, the total hours tend to be kept constant regardless of various factors.
Omar, Nor Asiah; Rahim, Ruzita Abdul; Wel, Che Aniza Che; Alam, Syed Shah
Purpose: This study aims to examine the factors that influence credit card misuse among working adults in Klang Valley, Malaysia. The relationship among self-esteem, materialism, impulsive buying, budget constraint, compulsive buying and credit card misuse are explored in this study. Design/methodology/approach: A total of 186 questionnaires was collected via convenience sampling from credit card users of working adults in Malaysia. A structural equation model that assesses the relationship b...
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.
A structural empirical job search model is presented that incorporates the labor supply decision of individuals. The arrival of a job offer is modeled as a random draw from a wage-hours offer distribution. Subjective information is used on desired working hours to identify optimal hours from offered
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
National Oceanic and Atmospheric Administration, Department of Commerce — Hourly observations journal from the National Observatory in Washington DC. The observatory is the first station in the United States to produce hourly observations...
National Oceanic and Atmospheric Administration, Department of Commerce — Hourly Precipitation Data (HPD) Publication is archived and available from the National Climatic Data Center (NCDC). This publication contains hourly precipitation...
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.
... 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
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.
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
Stanley, B.J.; Cline, S.B.
To no one's surprise, the administration's recently released energy initiative package does not advocate the use of tax incentives such as the Internal Revenue Code Sec. 29 (tight sand gas) credit that expired Dec. 31, 1992. This is unfortunate since tax credits do stimulate drilling, as the authors' recent study of Oklahoma's Pennsylvanian age Cherokee formation demonstrates. Within this 783,000 acre study area, more than 130 additional wells were drilled between 1991--92 because of tax credit incentives. And such tax credits also increase total federal tax revenues by causing wells to be drilled that would not have been drilled or accelerating the drilling of wells, thereby increasing taxable revenue. In short, tax credits create a win-win situation: they stimulate commerce, increase tax revenues, reduce the outflow of capital to foreign petroleum projects, and add to the nation's natural gas reserve, which is beneficial for national security, balance of payments, the environment, and gas market development. The paper discusses the study assumptions, study results, and the tax credit policy
Fekedulegn, Desta; Burchfiel, Cecil M; Hartley, Tara A; Baughman, Penelope; Charles, Luenda E; Andrew, Michael E; Violanti, John M
In this study, the cross-sectional association of paid work hours with episodes of work absence was examined in a cohort of police officers. Study subjects were participants from the Buffalo Cardio-Metabolic Occupational Police Stress (BCOPS) study examined between 2004 and 2009. Among 395 study participants with complete data, day-by-day work history records during the one-year period prior to date of examination were used to determine episodes of one-day and three day work absence. The Negative binomial regression analysis was used to examine rate ratios (RR) of work absence. Analyses were also stratified by gender. A one-hour increase in total work hours was associated with 5% reduction in rate of one-day work absence (RR = 0.95, 95% CI: 0.92 - 0.98) and with 8% reduction in rate of three-day work absence (RR = 0.92, 95% CI: 0.89 - 0.95). The association of total work hours with episodes of one-day work absence was significant only in men while the association with episodes of three-day work absence was evident in men and women. In conclusion, in this cohort of police officers, work hours were negatively associated with both durations of work absence (one-day, > or = 3 consecutive days).
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.
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.
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...
A colleague can't make a coffee date at a time the author proposes because it would conflict with his office hour. No student has actually made an appointment with him during the hour, but he is committed to being in his office as promised in case someone drops by. The author's reaction to her colleague's faithfulness to his posted office hour…
Kodz, J.; Kersley, B.; Strebler, M. T.; O'Regan, S.
Case studies of 12 leading British employers were driven by employers' interest in issues related to working long hours in light of introduction of the Working Time Directive, a European Community initiative enacted into British law that sets limits on working hours per week. Data showed over one-fourth of full-time employees worked over 48 hours…
This paper examined the perceptions of market women on access to micro credit and economic empowerment in Yenagoa, Bayelsa State. The study adopted the descriptive research design and a total of 180 market women were randomly selected from Swali, Opolo, and Tombia markets in Yenagoa. The study adopted the ...
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.
Cebi, Merve; Woodbury, Stephen A
The Omnibus Budget Reconciliation Act of 1990 enacted a refundable tax credit for low-income working families who purchased health insurance coverage for their children. This health insurance tax credit (HITC) existed during tax years 1991, 1992, and 1993, and was then rescinded. A difference-in-differences estimator applied to Current Population Survey data suggests that adoption of the HITC, along with accompanying increases in the Earned Income Tax Credit (EITC), was associated with a relative increase of about 4.7 percentage points in the private health insurance coverage of working single mothers with high school or less education. Also, a difference-in-difference-in-differences estimator, which attempts to net out the possible influence of the EITC increases but which requires strong assumptions, suggests that the HITC was responsible for about three-quarters (3.6 percentage points) of the total increase. The latter estimate implies a price elasticity of health insurance take-up of -0.42. Copyright © 2013 John Wiley & Sons, Ltd.
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.
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...
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 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.
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
... living expenses. Any reduction in the unpaid balance of the loan, advance, or line of credit shall reduce..., or co-signer bears to the total number of endorsers or guarantors. However, if the spouse of the...-half of the available credit extended by the unsecured loan. (c) Routine living expenses. (1) A loan...
Feldhütter, Peter; Nielsen, Mads Stenbo
We present a new estimation approach that allows us to extract from spreads in synthetic credit markets the contribution of systematic and idiosyncratic default risk to total default risk. Using an extensive dataset of 90,600 credit default swap and collateralized debt obligation (CDO) tranche...... spreads on the North American Investment Grade CDX index, we conduct an empirical analysis of an intensity-based model for correlated defaults. Our results show that systematic default risk is an explosive process with low volatility, while idiosyncratic default risk is more volatile but less explosive...
Xiuli Zhu; Lianjun Li; Yunkui Xue
This paper investigates credit allocation before and after the 2003 banking system reform in China. We find that relationships between earnings quality and new short-term loans, long-term loans and total loans in listed companies changed significantly after the banking system reform, especially in stateowned listed companies. Further investigation shows that due to the influence of rent-seeking, banks have eased the earnings requirements of non-stateowned listed companies. These findings enhance our understanding of the economic consequences of the banking system reform and of credit discrimination under the new regime.
Full Text Available This paper investigates credit allocation before and after the 2003 banking system reform in China. We find that relationships between earnings quality and new short-term loans, long-term loans and total loans in listed companies changed significantly after the banking system reform, especially in state-owned listed companies. Further investigation shows that due to the influence of rent-seeking, banks have eased the earnings requirements of non-state-owned listed companies. These findings enhance our understanding of the economic consequences of the banking system reform and of credit discrimination under the new regime.
Rahimi, M.; Lancaster, D.; Hoeffer, B.; Nichols, M.
The primary purpose of this paper is to present the new methodology for establishing bias and uncertainty associated with isotopic prediction in spent fuel assemblies for burnup credit analysis. The analysis applies to the design of criticality control systems for spent fuel casks. A total of 54 spent fuel samples were modeled and analyzed using the Shielding Analyses Sequence (SAS2H). Multiple regression analysis and a trending test were performed to develop isotopic correction factors for 10 actinide burnup credit isotopes. 5 refs., 1 tab
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 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 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
This study centers on a statistical analysis of the preliminary construction time, main construction time, and total construction man hours of nuclear power plants. The use of these econometric techniques allows the major man hour driving variables to be identified through multivariate analysis of time-series data on over 80 United States nuclear power plants. The analysis made in this study provides a clearer picture of the dynamic changes that have occurred in the man hours of these plants when compared to engineering estimates of man hours, and produces a tool that can be used to project nuclear power plant man hours
... 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...
... 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...
... 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...
... 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. ...
... 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...
... 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...
Full Text Available The paper presents an analysis of the Polish financial system, with regard to both the number of financial institutions and their assets over the last two decades. Data on the structure of household assets are also presented. According to the study, banks are the most important institutions in the Polish financial system. Analyzed in order to compare Polish credit institutions with all other members of the European Union were total assets of credit institutions, assets of the 25 largest banks in the European Union, as well as in Central and East Europe, share of the five largest credit institutions in total assets (CR5, asset share of credit institutions with majority foreign equity ownership, number of credit institutions, number of local units (branches, number of residents per credit institution local unit, number of employees of credit institutions, assets of credit institutions per employee and GDP per capita in PPS. The data demonstrate that over the past decade Polish credit institutions have largely strengthened their position within the European Union.
ÇOBAN, Orhan; ÇOBAN, Ayşe; İNAN, Selçuk
In this study, the monetary transmission mechanism and the effectiveness of the credit channel have been analyzed. According to the analysis results, the most important instrument in the applications of the monetary policy in Turkey is variable interest rates. Interest rates are the most significant main effectives for all other variables and they influence the total deposit, the total credits and the size of the total security. While an increase in deposits raise the size of loanable fund by...
Liao, Q. Q.; Wang, B.
Fine hourly forecast in single station weather forecast is required in many human production and life application situations. Most previous MOS (Model Output Statistics) which used a linear regression model are hard to solve nonlinear natures of the weather prediction and forecast accuracy has not been sufficient at high temporal resolution. This study is to predict the future meteorological elements including temperature, precipitation, relative humidity and wind speed in a local region over a relatively short period of time at hourly level. By means of hour-to-hour NWP (Numeral Weather Prediction)meteorological field from Forcastio (https://darksky.net/dev/docs/forecast) and real-time instrumental observation including 29 stations in Yunnan and 3 stations in Tianjin of China from June to October 2016, predictions are made of the 24-hour hour-by-hour ahead. This study presents an ensemble approach to combine the information of instrumental observation itself and NWP. Use autoregressive-moving-average (ARMA) model to predict future values of the observation time series. Put newest NWP products into the equations derived from the multiple linear regression MOS technique. Handle residual series of MOS outputs with autoregressive (AR) model for the linear property presented in time series. Due to the complexity of non-linear property of atmospheric flow, support vector machine (SVM) is also introduced . Therefore basic data quality control and cross validation makes it able to optimize the model function parameters , and do 24 hours ahead residual reduction with AR/SVM model. Results show that AR model technique is better than corresponding multi-variant MOS regression method especially at the early 4 hours when the predictor is temperature. MOS-AR combined model which is comparable to MOS-SVM model outperform than MOS. Both of their root mean square error and correlation coefficients for 2 m temperature are reduced to 1.6 degree Celsius and 0.91 respectively. The
U.S. Environmental Protection Agency — This data layer identifies areas in the U.S. where air pollution levels have not met the National Ambient Air Quality Standards (NAAQS) for Ozone - 1hour (Legacy...
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.
66 Abstract - Flexible forms of working hours This diploma thesis deals with the flexible forms of working hours and its goal is to describe this issue in intelligible and comprehensive way. It is being very interesting and current theme which is to a great extent not subject to direct legal regulations and provides its contracting parties with a big amount of freedom of contract. This fact assists in bigger flexibilization of labour market and represents a significant instrument in the fight...
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.
Nor Asiah Omar
Full Text Available Purpose: This study aims to examine the factors that influence credit card misuse among working adults in Klang Valley, Malaysia. The relationship among self-esteem, materialism, impulsive buying, budget constraint, compulsive buying and credit card misuse are explored in this study. Design/methodology/approach: A total of 186 questionnaires was collected via convenience sampling from credit card users of working adults in Malaysia. A structural equation model that assesses the relationship between the proposed variables is tested using AMOS 20. Findings: The findings reveal that budget constraints, impulsive buying and materialism have a statistically significant influence on compulsive buying. In terms of credit card misuse, it is influenced negatively by self-esteem while positively by compulsive buying. Originality/value: Despite vast research on compulsive buying and credit card misuse, very few studies have examined it in the non-Western context.
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.
Flávio Leonel de Carvalho
Full Text Available This study aims to investigate the factors that affect the market exit of Brazilian singular credit unions from 1995 to 2009; it also identifies and lists the determinants of various types of market exits and analyzes whether profitability is a significant factor for credit union survival. This study was conducted with accounting data provided by the Central Bank of Brazil, which derives only from individual cooperatives, i.e. singular credit unions. Quarterly financial statements from these credit unions that were active from 1995 to the second quarter of 2009 were employed, totaling 71,325 observations for 1,929 credit unions. Based on survival and the model of competing risks (such as the Cox, Exponential, Weibull, Gompertz, and Competing Risk models, the results show that there is no statistical evidence to ensure a correlation between profitability and credit union survival. The results also suggest that the size of credit unions plays a key role in their survival and longevity and that their funding and investment management are related to their survival and risk of market exit. In conclusion, the results confirm the initial idea that the duality inherent to credit unions - cooperative principles versus economic efficiency - might influence the stability, survival, and longevity of these institutions. Such results may also imply that a credit union embracing the rationale of a private bank will become more estranged from its members, something which will hinder its future operations and increase the likelihood of its exit from the market.
Juliana da Costa Fernandes
Full Text Available OBJECTIVE: to analyse the differences between genders in the description in the professional, domestic and total work hours and assess its association with health-related behaviour among nurses. METHODS: this is a transversal study carried out in 18 different public hospitals in the municipality of Rio de Janeiro. The data collection procedure was based on questionnaires. All nurses working with assistance were considered eligible (n=2,279. RESULTS: men and women showed significant differences in relation to working hours. The female group showed longer domestic and total work hours when compared to the group of men. In contrast, the number of hours spent on professional work was higher among men. For the women, both the professional hours and total work hours were often associated with excessive consumption of fried food and also coffee, lack of physical exercise and also the greater occurrence of overweight and obesity. CONCLUSION: both the professional hours and the domestic work hours need to be taken into account in studies about health, self-care and also the care provided within the context of nursing workers, particularly among women. The results add weight to the need for actions for health promotion in this occupational group and the importance of assessing the impact of long working hours on the health of workers.
Fernandes, Juliana da Costa; Portela, Luciana Fernandes; Rotenberg, Lúcia; Griep, Rosane Harter
To analyse the differences between genders in the description in the professional, domestic and total work hours and assess its association with health-related behaviour among nurses. This is a transversal study carried out in 18 different public hospitals in the municipality of Rio de Janeiro. The data collection procedure was based on questionnaires. All nurses working with assistance were considered eligible (n=2,279). Men and women showed significant differences in relation to working hours. The female group showed longer domestic and total work hours when compared to the group of men. In contrast, the number of hours spent on professional work was higher among men. For the women, both the professional hours and total work hours were often associated with excessive consumption of fried food and also coffee, lack of physical exercise and also the greater occurrence of overweight and obesity. Both the professional hours and the domestic work hours need to be taken into account in studies about health, self-care and also the care provided within the context of nursing workers, particularly among women. The results add weight to the need for actions for health promotion in this occupational group and the importance of assessing the impact of long working hours on the health of workers.
Kollias, Anastasios; Destounis, Antonios; Kalogeropoulos, Petros; Kyriakoulis, Konstantinos G; Ntineri, Angeliki; Stergiou, George S
This study assessed the diagnostic accuracy of a novel 24-hour ambulatory blood pressure (ABP) monitor (Microlife WatchBP O3 Afib) with implemented algorithm for automated atrial fibrillation (AF) detection during each ABP measurement. One hundred subjects (mean age 70.6±8.2 [SD] years; men 53%; hypertensives 85%; 17 with permanent AF; 4 paroxysmal AF; and 79 non-AF) had simultaneous 24-hour ABP monitoring and 24-hour Holter monitoring. Among a total of 6410 valid ABP readings, 1091 (17%) were taken in ECG AF rhythm. In reading-to-reading ABP analysis, the sensitivity, specificity, and accuracy of ABP monitoring in detecting AF were 93%, 87%, and 88%, respectively. In non-AF subjects, 12.8% of the 24-hour ABP readings indicated false-positive AF, of whom 27% were taken during supraventricular premature beats. There was a strong association between the proportion of false-positive AF readings and that of supraventricular premature beats ( r =0.67; P ABP monitoring had 100%/85% sensitivity/specificity (area under the curve 0.91; P ABP monitor with AF detector has high sensitivity and moderate specificity for AF screening during routine ABP monitoring. Thus, in elderly hypertensives, a 24-hour ABP recording with at least 26% of the readings suggesting AF indicates a high probability for AF diagnosis and should be regarded as an indication for performing 24-hour Holter monitoring. © 2018 American Heart Association, Inc.
... 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...
Full Text Available In this study, inspired by the Credit Portfolio View approach, we intend to develop an econometric credit risk model to estimate credit loss distributions of Turkish Banking System under baseline and stress macro scenarios, by substituting default rates with non-performing loan (NPL ratios. Since customer number based historical default rates are not available for the whole Turkish banking system’s credit portfolio, we used NPL ratios as dependent variable instead of default rates, a common practice for many countries where historical default rates are not available. Although, there are many problems in using NPL ratios as default rates such as underestimating portfolio losses as a result of totally non-homogeneous total credit portfolios and transferring non-performing loans to asset management companies from banks’ balance sheets, our aim is to underline and limit some ignored problems using accounting based NPL ratios as default rates in macroeconomic credit risk modeling. Developed models confirm the strong statistical relationship between systematic component of credit risk and macroeconomic variables in Turkey. Stress test results also are compatible with the past experiences
Nur Ubaidah Saidin; Muhamad Daud; Siti Radiah Mohd Kamarudin
This report explained the test conducted in salt fog chamber to evaluate the effectiveness of mild steel, coated with rust converter, for 168 hours in artificial seawater exposure. The samples were compared with mild steel coated with commercial primer. The tests were conducted followed ASTM B117. Individual pictures were taken of each sample before the tests began, at 24, 48, 72, 96, 120, 144 and 168 hours to see the progression of the corrosion. Results showed that the samples coated with rust converter provide a good significant protection against corrosion phenomenon than the samples coated with commercial primer that available in the market. (author)
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 There is growing consensus in Latin America on the necessity to reorganize the degree profiles in a competence-based and student-centred system, with identified learning outcomes, innovative learning and teaching strategies, and new methodologies for assessing competences which could be useful for students. There is also agreement on the need to build up a solid Latin America Higher Education Area —based on common benchmarks—among which a shared regional academic credit system is highly relevant. Not all Latin American higher education institutions are familiar with an academic credit system. In the countries where academic credits do exist they are generally based on traditional views which focus on teaching and transmission, rest on different concepts and definitions and consider diverse scopes for their application. With few exceptions, these countries do not use a credit system as a unit of measure of student workload to achieve learning outcomes and competences. This paper sheds light on a proposal for a common academic credit system for Latin America (CLAR which comes out of one of the many nuances of Tuning discussion and is referred to the expected outcome 6: “Political-and educational orientations for the establishment of a system of academic credits for Latin America” (Proyecto Alfa Tuning América Latina: Innovación Educativa y Social, 2011-2013. The new credit system that this paper advocates for Latin America is based on the principle that 60 credits measure the workload of a full-time student during one academic year. As such, a CLAR credit is conceived as a unit of value that estimates the student workload, measured in hours, which he/she typically requires to achieve learning outcomes and pass a course or a semester. In order to calculate the value of CLAR credit two elements are considered: the duration of the academic year and the annual student workload. To estimate the annual student workload, a specific survey was
... 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...
Ben Elia, E.; Ettema, D.F.
In a 13-week field study conducted in The Netherlands, participants were provided with daily rewards – monetary and in-kind, in order to encourage them to avoid driving during the morning rush-hour. Participants could earn a reward (money or credits to keep a Smartphone handset), by driving to work
Jungok Yu, RN, PhD
Purpose: This study investigated gender differences in the relationship between long working hours and metabolic syndrome. Methods: Data based on the Sixth National Health and Nutrition Examination Survey (2014) pertaining to a total of 1,145 paid workers were analyzed. Working hours were divided into three groups (40–51 hours/week, 52–59 hours/week, ≥ 60 hours/week). The relationship between working hours and metabolic syndrome was then analyzed after adjusting for general and occupationa...
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...
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)
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…
... = Production×(Standard—FEL)×Power×Useful life×Load Factor Where: Production = eligible production as defined in this part. Annual production projections are used to project credit availability for initial... kilowatt hour. Power = the maximum modal power of the certification test engine, in kilowatts, as...
Wells, Ryan S.; Lynch, Cassie M.
President Obama has proposed a financial aid policy whereby students who complete 100 hours of community service would receive a tax credit of US$4,000 for college. After lawmakers cut this proposal from previous legislation, the administration was tasked with studying the feasibility of implementation. However, the implications of the policy for…
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)
Nikita V. Artamonov
Full Text Available One of the principal problem in contemporary macroeconomics is concerned with factors increasing or decreasing economic dynamics. The mainstream approach is based on neoclassical assumptions, but recently new approaches appear mostly based on new Keynesian concepts. In present time the influence of monetary market and credit instruments become more and more significant. Credit resources of banking and financial structures can affect and distort to reallocation of resources for national and even for global economic. In present paper an empiric and econometric analysis for some macroeconometric and monetary indices for Russian Federation is done. An econometrical models describing the influence of credit variables onto real GDP is estimated. It is shown that in short-term periods changes in credit variables do influence significantly onto GDP. It is shown that on short-term periods changes in money aggregate M2 brings influence (through credit variables onto national output. As well it is shown that changes in short-term interest rate brings significant negative influence onto real output. Impulse response functions for GDP on shocks of credit variables, monetary base and short-term interest rate are evaluated. For the present study of credit cycles and their impact to real business cycles statistical data (quarterly time series on the following factors for Russian Federation are collected: nominal and real GDP, monetary base M2, short-term interest rate, long-term interest rate (10-year treasuries bill rate, total debt outstanding. All time series are seasonally adjusted and collected for the period 2004 Q1 - 2013 Q2. All interest rates are adjusted for inflation (i.e. we deal with real interest rates. The investigation of long-term relationship for the factors under consideration are based on integration. It is important to note that in the present paper all econometric models are estimated on "pure" statistical data, while in many research
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.
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.
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
Rodrigo Alves Silva
Full Text Available This paper aims to show the importance of the use of financial metrics in decision-making of credit scoring models selection. In order to achieve such, we considered an automatic approval system approach and we carried out a performance analysis of the financial metrics on the theoretical portfolios generated by seven credit scoring models based on main statistical learning techniques. The models were estimated on German Credit dataset and the results were analyzed based on four metrics: total accuracy, error cost, risk adjusted return on capital and Sharpe index. The results show that total accuracy, widely used as a criterion for selecting credit scoring models, is unable to select the most profitable model for the company, indicating the need to incorporate financial metrics into the credit scoring model selection process. Keywords Credit risk; Model’s selection; Statistical learning.
Sung Jun Kim
Full Text Available This model extends a two-echelon supply chain model by considering the trade-credit policy, transportations discount to make a coordination mechanism between transportation discounts, trade-credit financing, number of shipments, quality improvement of products, and reduced setup cost in such a way that the total cost of the whole system can be reduced, where the supplier offers trade-credit-period to the buyer. For buyer, the backorder rate is considered as variable. There are two investments to reduce setup cost and to improve quality of products. The model assumes lead time-dependent backorder rate, where the lead time is stochastic in nature. By using the trade-credit policy, the model gives how the credit-period would be determined to achieve the win-win outcome. An iterative algorithm is designed to obtain the global optimum results. Numerical example and sensitivity analysis are given to illustrate the model.
Deligiannis, Ilias; Dimitriadis, Panayiotis; Koutsoyiannis, Demetris
The wind process is essential for hydrometeorology and additionally, is one of the basic renewable energy resources. Most stochastic forecast models are limited up to daily scales disregarding the hourly scale which is significant for renewable energy management. Here, we analyze hourly wind timeseries giving emphasis on the temporal distribution of wind within the day. We finally present a periodic model based on statistical as well as hydrometeorological reasoning that shows good agreement with data. Acknowledgement: This research is conducted within the frame of the undergraduate course "Stochastic Methods in Water Resources" of the National Technical University of Athens (NTUA). The School of Civil Engineering of NTUA provided moral support for the participation of the students in the Assembly.
Human Resources Division
Due to the extra workload generated by the global renewal of French cards and in order to preserve the level of service offered by the cards office, please note that this office will in future be open every morning from 8.30 a.m. to 12.30 p.m. until further notice. The service can be contacted by telephone during the same hours. Thank you for your understanding.
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.
Full Text Available Credit portfolio management means the totality of financial and economic decisions realization aimed at achieving optimal ratio of performance indicators of loan portfolio. If low-quality loans increase, the reduction of productive assets volume and, respectively, profitability from banking lending. In extreme cases a such situation could lead to bank bankruptcy. At present bank loan portfolio quality assessment is an important component of bank management.
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 ...
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…
Jaggi Chandra K.
Full Text Available Trade credit financing has become a powerful tool to improve sales & profit in an industry. In general, a supplier/retailer frequently offers trade credit to its credit risk downstream member in order to stimulate their respective sales. This trade credit may either be full or partial depending upon the past profile of the downstream member. Partial trade credit may be offered by the supplier/retailer to their credit risk downstream member who must pay a portion of the purchase amount at the time of placing an order and then receives a permissible delay on the rest of the outstanding amount to avoid non-payment risks. The present study investigates the retailer’s inventory problem under partial trade credit financing for two echelon supply chain where the supplier, as well as the retailer, offers partial trade credit to the subsequent downstream member. An algebraic approach has been applied for finding the retailer’s optimal ordering policy under minimizing the annual total relevant cost. Results have been validated with the help of examples followed by comprehensive sensitivity analysis.
The 24-hour Society undergoes an ineluctable process towards a social organisation where time constraints are no more restricting human life. The borders between working and social times are no more fixed and rigidly determined, and the value of working time changes according to the different economic and social effects you may consider. Shift and night work, irregular and flexible working hours, together with new technologies, are the milestone of this epochal passage. What are the advantages and disadvantages for the individual, the companies, and the society? What is the cost/benefit ratio in terms of health and social well-being? Coping properly with this process means avoiding a passive acceptance of it with consequent maladjustments at both individual and social level, but adopting effective preventive and compensative strategies aimed at building up a more sustainable society. Flexible working times now appear to be one of the best ways to cope with the demands of the modern life, but there are different points of view about labour and temporal 'flexibility" between employers and employees. For the former it means a prompt adaptation to market demands and technological innovations; for the latter it is a way to improve working and social life, by decreasing work constraints and increasing control and autonomy. Although it can be easily speculated that individual-based 'flexibility" should improve health and well-being, and especially satisfaction, whereas company-based flexibility" might interfere negatively, the effective consequences on health and well-being have still to be analysed properly.
Ala-Mursula, L; Vahtera, J; Kouvonen, A; Väänänen, A; Linna, A; Pentti, J; Kivimäki, M
To explore the associations of working hours (paid, domestic, commuting, and total) with sickness absence, and to examine whether these associations vary according to the level of employee control over daily working hours. Prospective cohort study among 25 703 full-time public sector employees in 10 towns in Finland. A survey of working hours and control over working hours was carried out in 2000-01. The survey responses were linked with register data on the number of self-certified (3 days) sickness absences until the end of 2003. Poisson regression analyses with generalised estimating equations were used to take into account the fact that the employees were nested within work units. Adjustments were made for work and family characteristics and health behaviour. The mean follow-up period was 28.1 (SD 8.1) months. Long domestic and total working hours were associated with higher rates of medically certified sickness absences among both genders. In contrast, long paid working hours were associated with lower rates of subsequent self-certified sickness absences. Long commuting hours were related to increased rates of sickness absence of both types. Low control over daily working hours predicted medically certified sickness absences for both the women and men and self-certified absences for the men. In combinations, high control over working hours reduced the adverse associations of long domestic and total working hours with medically certified absences. Employee control over daily working hours may protect health and help workers successfully combine a full-time job with the demands of domestic work.
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...
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
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
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...
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...
Pelizzon, Loriana; Subrahmanyam, Marti G.; Tomio, Davide
This paper explores the interaction between credit risk and liquidity, in the context of the intervention by the European Central Bank (ECB), during the Euro-zone crisis. The laboratory for our investigation is the Italian sovereign bond market, the largest in the Euro-zone. We use a unique data...... between changes in Italian sovereign credit risk and liquidity in the secondary bond market, conditional on the level of credit risk, measured by the Italian sovereign credit default swap (CDS) spread. We demonstrate the existence of a threshold of 500 basis points (bp) in the CDS spread, above which...... there is a structural change in this relationship. Other global systemic factors also a ffect market liquidity, but the speci c credit risk of primary dealers plays only a modest role in a ffecting market liquidity, especially under conditions of stress. Moreover, the data indicate that there is a clear structural...
Full Text Available This essay deals with the definition of a model for assessing and managing credit risk. Risk is an inseparable component of any average and normal credit transaction. Looking at the different aspects of the identification and classification of risk in the banking industry as well as representation of the key components of modern risk management. In the first part of the essay will analyze how the impact of credit risk on bank and empirical models for determining the financial difficulties in which the company can be found. Bank on the basis of these models can reduce number of approved risk assets. In the second part, we consider models for improving credit risk with emphasis on Basel I, II and III, and the third part, we conclude that the most appropriate model and gives the best effect for measuring credit risk in domestic banks.
Widiharih, T.; Mukid, M. A.; Mustafid
Credit scoring model is an important tool for reducing the risk of wrong decisions when granting credit facilities to applicants. This paper investigate the performance of kernel discriminant model in assessing customer credit risk. Kernel discriminant analysis is a non- parametric method which means that it does not require any assumptions about the probability distribution of the input. The main ingredient is a kernel that allows an efficient computation of Fisher discriminant. We use several kernel such as normal, epanechnikov, biweight, and triweight. The models accuracy was compared each other using data from a financial institution in Indonesia. The results show that kernel discriminant can be an alternative method that can be used to determine who is eligible for a credit loan. In the data we use, it shows that a normal kernel is relevant to be selected for credit scoring using kernel discriminant model. Sensitivity and specificity reach to 0.5556 and 0.5488 respectively.
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)
Lewis, F.W.; Osburn, A.S.
The U.S. Internal Revenue Service on Apr. 1, 1991, released the inflation adjustments used in the calculations of Non-Conventional Fuel Tax Credits for 1990. The inflation adjustment, 1.6730, when applied to the base price of $3/bbl of oil equivalent, adjusts the tax credit to $5.019/bbl for oil and 86.53 cents/MMBTU for gas. The conversion factor for equivalent fuels is 5.8 MMBTU/bbl. Unfortunately, the tax credit for tight formation gas continues to be unadjusted for inflation and remains 52 cents/MMBTU. As many producers are aware, the Omnibus Budget Reconciliation Act of 1990 expanded the dates of eligibility and the usage for-Non-Conventional Fuel Tax Credits. Among other provisions, eligible wells may be placed in service until Jan. 1, 1992, and once in place may utilize the credit for production through Dec. 31, 2002. Both dates are 2 year extensions from previous regulations
We define the notion of total algorithms for networks of processes. A total algorithm enforces that a "decision" is taken by a subset of the processes, and that participation of all processes is required to reach this decision. Total algorithms are an important building block in the design of
Quick and painless Java programming with expert multimedia instruction Java Programming 24-Hour Trainer, 2nd Edition is your complete beginner's guide to the Java programming language, with easy-to-follow lessons and supplemental exercises that help you get up and running quickly. Step-by-step instruction walks you through the basics of object-oriented programming, syntax, interfaces, and more, before building upon your skills to develop games, web apps, networks, and automations. This second edition has been updated to align with Java SE 8 and Java EE 7, and includes new information on GUI b
Full Text Available The Basel III Accord has reportedly had an impact on SME financing. In this paper, we aim to highlight the determinants of SME credit worthiness. We use credit history in addition to financial ratios and “hybrid” indicators that have been built by mixing credit history with financial statement data. We develop a failure prediction logit model on 187 Italian SMEs. The use of short-term credit lines is the most important variable. Contrary to common understanding, capitalization levels do not affect ratings. Lastly, credit worthiness is sensitive to sale profitability.
Thomas, Benjamin J
.... Taking this vision into account, the individual credits that comprise LEED are designed to reward design teams for employing sustainable design strategies that reduce the total environmental impact...
... 12 Banks and Banking 3 2010-01-01 2010-01-01 false Special credit card provisions. 226.12 Section... SYSTEM TRUTH IN LENDING (REGULATION Z) Open-End Credit § 226.12 Special credit card provisions. (a) Issuance of credit cards. Regardless of the purpose for which a credit card is to be used, including...
... Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM LOAN POLICIES AND OPERATIONS Banks for Cooperatives and Agricultural Credit Banks Financing International Trade § 614.4720 Letters of credit. Banks for cooperatives and agricultural credit banks, under policies adopted by their boards of directors...
... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Farm Credit Bank. 619.9145 Section 619.9145 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM DEFINITIONS § 619.9145 Farm Credit Bank. The term Farm Credit Bank refers to a bank resulting from the mandatory merger of the Federal land...
... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Credit risk management. 704.6 Section 704.6... CREDIT UNIONS § 704.6 Credit risk management. (a) Policies. A corporate credit union must operate according to a credit risk management policy that is commensurate with the investment risks and activities...
Full Text Available 7 positions in 2 hours (2013 is a drawing that documents the process of making the short film Role Reversal Rehearsal. It became quickly apparent that the process of making the work was more dynamic and interesting than the finished piece itself. Relationships between the childcare arrangements of the participants and the collective working process brought about the necessity of collaboration for parent artists. Each participant gave their time, energy and creative insight towards filming a series of birthing positions with roles reversed. The male performer became the central figure in an attempt to prompt empathy, humour, and to embody the importance of the male role in childbirth. There were two hours to choreograph, rehearse, and film the sequence. The drawing by Ackerman encapsulates the 'rhizomatic' approach to producing creative work under the constraints of parenthood. The 'arborescent' structure of hierarchy encouraged in industrial filmmaking is subsumed in favour of a horizontal structure. This new structure allows for the creative input, and flow of collaboration between all people involved - including the 3 and 5 year olds, who contributed ideas for camera and soundtrack in situ.
Nguyen Anh Hoang
Full Text Available This study is an attempt to investigate the motivation behind the decision to participate in the credit market of SMEs from perspectives of behavioral finance and social capital theories. In addi- tion, the study also examines the effect of behavioral finance and social capital factors on the credit source selection among SMEs. This study’s design strategy involves conducting questionnaire sur- veys to SMEs owners and statistical techniques to analyze the determinants of credit participation and credit source selection of borrowers. The findings showed that personal traits of SMEs owners/ managers in terms of behavioral finance factors such as debt and risk attitudes, present biased and overconfidence and firms networking also have impacts on the firms’ credit participation and credit source selection. The research is one of the few studies that consider the influence of behavioral finance factors on firms financing decision. Furthermore, our result also contributes to explain the common use of informal credit market in developing countries.
Jang, Tae-Won; Kim, Hyoung-Ryoul; Lee, Hye-Eun; Myong, Jun-Pyo; Koo, Jung-Wan
The present study was designed to identify the association between work hours and obesity in Korean adult manual and nonmanual workers, and to determine whether there is a gender difference in this association. The study was conducted using Korean National Health and Nutrition Examination Survey data collected between 2007 and 2010. Individuals aged below 25 or over 64 years, pregnant women, part-time workers, soldiers, housewives and students were excluded. The total number of individuals included in the analysis was 8,889 (5,241 male and 3,648 female subjects). The outcome variable was obesity, defined as body mass index ≥25 kg/m(2). Variables considered in the model were age, education, income, marital status, alcohol drinking, smoking, daily energy intake, physical activity, sleep hours per day, the type of job, work hours, and work schedule. Work hours were categorized as 60 hours per week. In the multiple SURVEYLOGISTIC regression analyses, the adjusted odds ratio of obesity for long work hours (>60 hours per week) in male manual workers was 1.647 (95% confidence interval 1.262-2.151). Long work hours did not significantly increase the odds ratio for obesity in male nonmanual workers and female manual and nonmanual workers. More than 60 work hours per week increased the risk of obesity in Korean male manual workers. This result might be helpful in preventing obesity in Korean adult workers, especially male manual workers.
Full Text Available Measuring different risk factors such as credit risk in banking industry has been an interesting area of studies. The artificial neural network is a nonparametric method developed to succeed for measuring credit risk and this method is applied to measure the credit risk. This research’s neural network follows back propagation paradigm, which enables it to use historical data for predicting future values with very good out of sample fitting. Macroeconomic variables including GDP, exchange rate, inflation rate, stock price index, and M2 are used to forecast credit risk for two Iranian banks; namely Saderat and Sarmayeh over the period 2007-2011. Research data are being tested for ADF and Causality Granger tests before entering the ANN to achieve the best lag structure for the research model. MSE and R values for the developed ANN in this research respectively are 86×〖10〗^(-4 and 0.9885, respectively. The results showed that ANN was able to predict banks’ credit risk with low error. Sensibility analyses which has accomplished on this research’s ANN corroborates that M2 has the highest effect on the ANN’s credit risk and should be considered as an additional leading indicator by Iran’s banking authorities. These matters confirm validation of macroeconomic notions in Iran’s credit systematic risk.
R. Raymond Sant
Full Text Available In this paper we study acquired credit unions and analyze their financial performance up to six years prior to merger, on a quarterly basis. The primary focus is on balance sheet (asset liability management and profitability variables (return on assets. We find that acquired credit unions during the period 2008 (third quarter to 2014 (first quarter experienced negative return on assets for several quarters prior to their takeover. This was the result of a declining loan portfolio and increasing charge offs. In spite of decreasing lending activity, such credit unions continued to increase their deposits, i.e., adding to their cost base. Due to declining loans, their net interest margin as a proportion of deposits was also in decline. We argue that this is an indicator of poor management ability. Furthermore, our analysis finds that operating expenses were increasing over time, something that has been documented in previous literature also for smaller credit unions and is attributable to lack of economies of scale. The average asset size of the acquired credit unions in our sample is about $22 million just before acquisition. We attribute our findings to poor business strategy followed by such credit unions. We also conclude that signs of trouble are evident up to two years before merger on average and regulatory policy may have to become more proactive to manage the consolidation challenge faced by the credit union industry in general.
Lancaster, D.; Fuentes, E.; Kang, Chi.
DOE has submitted a topical report to the NRC justifying burnup credit based only on actinide isotopes (U-234, U-235, U-236, U-238, Pu-238, Pu-239, Pu-240, Pu-241, Pu-242, and Am-241). When this topical report is approved, it will allow a great deal of the commercial spent nuclear fuel to be transported in significantly higher capacity casks. A cost savings estimate for shipping fuel in 32 assembly (burnup credit) casks as opposed to 24 assembly (non-burnup credit) casks was previously presented. Since that time, more detailed calculations have been performed using the methodology presented in the Actinide-Only Burnup Credit Topical Report. Loading curves for derated casks have been generated using actinide-only burnup credit and are presented in this paper. The estimates of cost savings due to burnup credit for shipping fuel utilizing 32, 30, 28, and 24 assembly casks where only the 24 assembly cask does not burnup credit have been created and are discussed. 4 refs., 2 figs
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 ...
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
... Credits 40, LLC, WNC Tax Credits 41, LLC, WNC Housing Tax Credits Manager 2, LLC, WNC National Partners... (``Fund 41'') (each a ``Fund,'' and collectively, the ``Funds''), WNC Housing Tax Credits Manager 2, LLC (the ``Manager''), WNC National Partners, LLC (``WNC National Partners'') and WNC & Associates, Inc...
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.
Nielsen, Mads Stenbo
This paper studies how corporate bond spreads vary with the business cycle. I show that both level and slope of empirical credit spread curves are correlated with the state of the economy, and I link this to variation in idiosyncratic jump risk. I develop a structural credit risk model...... that accounts for both business cycle and jump risk, and show by estimation that the model captures the counter-cyclical level and pro-cyclical slope of empirical credit spread curves. In addition, I provide a new procedure for estimation of idiosyncratic jump risk, which is consistent with observed shocks...
Daniel R. Sanches
The author studies the terms of credit in a competitive market in which sellers (lenders) are willing to repeatedly finance the purchases of buyers (borrowers) by engaging in a credit relationship. The key frictions are: (i) the lender is unable to observe the borrower's ability to repay a loan; (ii) the borrower cannot commit to any long-term contract; (iii) it is costly for the lender to contact a borrower and to walk away from a contract; and (iv) transactions within each credit relationsh...
Global Journal of Agricultural Sciences ... cheap interest rate polices has negative effect on credit supply while policies associated with plough ... credit was influenced mainly by the availability of credit subsidies and availability of guarantees.
controls the supply of money. This assumes the ... input supply, marketing services and of course credit supply. Provision of ... credit in state, assess the impact of credit on agricultural ..... Inflation targeting be a framework for monetary policy.
... an 8-hour break between successive work periods when a break of less than 10 hours is necessary to...) Individuals who are working 8-hour shift schedules shall have at least 1 day off per week, averaged over the shift cycle; (ii) Individuals who are working 10-hour shift schedules shall have at least 2 days off per...
This article presents an interview with James Howe, author of "The Misfits" and "Totally Joe". In this interview, Howe discusses tolerance, diversity and the parallels between his own life and his literature. Howe's four books in addition to "The Misfits" and "Totally Joe" and his list of recommended books with lesbian, gay, bisexual, transgender,…
Spinella, Marcello; Yang, Bijou; Lester, David
Credit card use often involves a disadvantageous allocation of finances because they allow for spending beyond means and buying on impulse. Accordingly they are associated with increased bankruptcy, anxiety, stress, and health problems. Mounting evidence from functional neuroimaging and clinical studies implicates prefrontal-subcortical systems in processing financial information. This study examined the relationship of credit card debt and executive functions using the Frontal System Behavior Scale (FRSBE). After removing the influences of demographic variables (age, sex, education, and income), credit card debt was associated with the Executive Dysfunction scale, but not the Apathy or Disinhibition scales. This suggests that processes of conceptualizing and organizing finances are most relevant to credit card debt, and implicates dorsolateral prefrontal dysfunction.
Rybka, Kathryn M.
Provides an overview of the concerns related to credit card usage by college students. Offers information student affairs professionals can use to help college students make responsible choices. (Contains 26 references.) (GCP)
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.
Reilly, K.; Getty, C.; Knief, R.
The Program on Non-Collegiate Sponsored Instruction (PONSI) and similar organizations may be of considerable help to the industry to the extent that college credit can be awarded for certain activities in reactor site training programs. The credit recommendations generally may be used at local colleges. They also may be applied (along with credit for college-level activities such as correspondence and on-campus courses, proficiency testing, and other evaluations) to degrees granted by the Regent's External Degree Program (REX) and other organizations. This paper describes the principle features of the PONSI and REX programs. PONSI's first credit evaluation at a nuclear plant - Consolidated Edison's Indian Point 2 - is summarized. Recent proposals for an explicit nuclear degree through REX are also described briefly
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
As states seek to foster the development of renewable energy resources, some have introduced renewable portfolio standards (RPSs) which require retailers of electricity to derive a specified amount of their energy supply from renewable energy resources. RPSs in Texas, Arizona, Wisconsin and Nevada allow for or require the use of tradable renewable energy credits. The price of such credits is expected to reflect the cost premium for generating electricity from renewable resources relative to the market price of conventionally generated electricity. Using the market to trade renewable energy credits exposes buyers and sellers to risks of imperfect information, poor performance, and opportunism. These risks can be managed through contractual arrangements and regulatory requirements pertaining to property rights in credits, pricing, term of the contract, and assurance of performance
Vermont Center for Geographic Information — The Community Development Financial Institutions (CDFI) Fund, a division of the US Department of the Treasury, administers the New Markets Tax Credit (NMTC). The...
The current cost of making a carbon transaction was discussed with particular reference to a time-line when emissions trading will become more cost-effective and streamlined for quicker results. This paper described how companies are dealing with the risk of emissions trading in terms of pricing and the expected financial impacts of owning a new commodity. The incorporation of emissions credits and trading activities into a company's balance sheet was also described in terms of how banks will consider a company's credit when calculating their loan potential. It was noted that some credits will be valued higher than others based on their historical background. The financial impact that credits have on company assets was addressed in terms of measuring reputation management. The importance of developing a financial plan for effective management was emphasized in terms of evaluating emissions reduction projects and future options. 17 refs., 2 figs
Burnup credit is currently not used for the storage of spent fuel in the reactor pools in Switzerland, but credit is taken for integral burnable absorbers. Interest exists to take credit of burnup in future for the storage in a central away-from-reactor facility presently under construction. For spent fuel transports to foreign reprocessing plants the regulations of the receiving countries must be applied in addition to the Swiss licensing criteria. Burnup credit has been applied by one Swiss PWR utility for such transports in a consistent manner with the licensing practice in the receiving countries. Measurements of reactivity worths of small spent fuel samples in a Swiss zero-power research reactor are at an early stage of planning. (author)
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.
Masterson, Mark F; Shrichand, Pankaj; Maniate, Jerry M
Physicians in general, and residents in particular, are adapting to duty schedules in which they have fewer continuous work hours; however, there are no Canadian guidelines on duty hours restrictions. To better inform resident duty hour policy in Canada, we set out to prepare a set of recommendations that would draw upon evidence reported in the literature and reflect the experiences of resident members of the Canadian Association of Internes and Residents (CAIR). A survey was prepared and distributed electronically to all resident members of CAIR. A total of 1796 eligible residents participated in the survey. Of those who responded, 38% (601) reported that they felt they could safely provide care for up to 16 continuous hours, and 20% (315) said that 12 continuous hours was the maximum period during which they could safely provide care (n=1592). Eighty-two percent (1316) reported their perception that the quality of care they had provided suffered because of the number of consecutive hours worked (n=1598). Only 52% (830) had received training in handover (n=1594); those who had received such training reported that it was commonly provided through informal modelling. On the basis of these data and the existing literature, CAIR recommends that resident duty hours be managed in a way that does not endanger the health of residents or patients; does not impair education; is flexible; and does not violate ethical or legal standards. Further, residents should be formally trained in handover skills and alternative duty hour models.
Silva, Amanda Aparecida; Rotenberg, Lúcia; Fischer, Frida Marina
To assess factors associated with professional and total hours of work (work + home) among nursing staff. Cross-sectional study conducted in a university hospital in the city of São Paulo, southeastern Brazil, between 2004 and 2005. A total of 696 workers (nurses, nurse technicians and aids), mostly women (87.8%) working day and/or night shifts, participated in the study. A self-administered questionnaire was used to collected information on demographic characteristics, and working and life conditions. Translated and adapted into Portuguese versions of the Job Stress Scale, Effort-reward imbalance, Short-Form-Health-related quality of life and the Work Ability Index were also administered. Logistic regression models were used for data analysis. Sole breadwinner, working night shifts and effort-reward imbalance were the variables associated with both professional (OR = 3.38, OR = 10.43, OR = 2.07, respectively) and total hours of work (OR = 1.57, OR = 3.37, OR = 2.75, respectively). There was no significant association between the variables related to hours of work and low Work Ability Index. Inadequate rest at home was statistically associated with professional (OR = 2.47) and total hours of work (OR = 1.48). Inadequate leisure time was significantly associated with professional hours of work (OR = 1.58) and barely associated with total hours of work (OR = 1.43). The sole breadwinner, working night shifts and effort-reward imbalance are variables that need to be further investigated in studies on work hours among nursing staff. These studies should explore workers' income and the relationship between effort and reward, taking into consideration gender issues.
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...
MurciaI,Flávia Cruz de Souza; Dal-Ri Murcia,Fernando; Rover,Suliani; Borba,José Alonso
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 Equa...
Leung, Seng Yuen; Kwok, Yue Kuen
Using the reduced form framework with inter-dependent default correlation, we perform valuation of credit default swap with counterparty risk. The inter-dependent default risk structure between the protection buyer, protection seller and the reference entity in a credit default swap are characterized by their correlated default intensities, where the default intensity of one party increases when the default of another party occurs. We explore how settlement risk and replacement cost affect th...
Efraim Benmelech; Jennifer Dlugosz
Collateralized Loan Obligations (CLOs) were one of the largest and fastest growing segments of the structured finance market, fueling the 2003-2007 boom in syndicated loans and leveraged buyouts. The credit crisis brought CLO issuance to a halt, and as a result the leveraged loan market dried up. Similar to other structured finance products, investors in CLOs rely heavily on credit rating provided by the rating agencies, yet little is known about CLO rating practices. This paper attempts to f...
Lydia L. Gan; Ramin Cooper Maysami
This study used factor analysis to examine credit card selection criteria among Singaporeans. The results showed that convenience of use and protection, economics, and flexibility were the main drivers, while the reputation of card was the least important in determining credit card selection in Singapore. Demographic results showed that high-income earners, the better educated, the elderly, married and the professional preferred the convenience-protection factor to the economic-promotional fa...
Avelino Sánchez, Esteban Marino
First is explained the reasons for this article, it mentions the specific legal rules that support the settlement of interest on the credit operations of companies in the financial system with end users, and then presents the average interest rates of some operations credit. Then we present the formula for calculating interest, and illustrates its application with examples 1 and 2 (the simplest). The following is, in examples 3 and 4, the calculation of interest with imputation of partial pay...
Counterparty credit risk is present in trades offinancial obligations. This master thesis investigates the up and comingtechnology blockchain and how it could be used to mitigate counterparty creditrisk. The study intends to cover essentials of the mathematical model expectedloss, along with an introduction to the blockchain technology. After modellinga simple smart contract and using historical financial data, it was evidentthat there is a possible opportunity to reduce counterparty credit r...
This document contains final regulations relating to the health insurance premium tax credit enacted by the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010.These final regulations provide guidance to individuals related to employees who may enroll in eligible employer-sponsored coverage and who wish to enroll in qualified health plans through Affordable Insurance Exchanges (Exchanges) and claim the premium tax credit.
Gramatikov, P.; Iliev, I.
The European Commission established a mechanism of credit lines to integrate more quickly the Bulgarian economy to the open international markets. Thereby it was enabled certain Bulgarian banks to provide grant loans to private companies in the industrial sector for projects of improvement of the energy efficiency of their production. The Bulgarian experience in using of two European credit lines and their role in the current economic crisis is presented in this paper. (authors)
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.
Dorn, Stan; Varon, Janet; Pervez, Fouad
The Trade Act of 2002 created federal tax credits to subsidize health coverage for certain early retirees and workers displaced by international trade. Though small, this program offers the opportunity to learn how to design future tax credits for larger groups of uninsured. During September 2004, the most recent month for which there are data about all forms of Trade Act credits, roughly 22 percent of eligible individuals received credits. The authors find that health insurance tax credits are more likely to reach their target populations if such credits: 1) limit premium costs for the low-income uninsured and do not require full premium payments while applications are pending; 2) provide access to coverage that beneficiaries value, including care for preexisting conditions; 3) are combined with outreach that uses easily understandable, multilingual materials and proactive enrollment efforts; and 4) feature a simple application process involving one form filed with one agency.
Verbanis, Ephanielle; Martin, Anthony; Houlmann, Raphaël; Boso, Gianluca; Bussières, Félix; Zbinden, Hugo
Bit commitment is a fundamental cryptographic primitive in which a party wishes to commit a secret bit to another party. Perfect security between mistrustful parties is unfortunately impossible to achieve through the asynchronous exchange of classical and quantum messages. Perfect security can nonetheless be achieved if each party splits into two agents exchanging classical information at times and locations satisfying strict relativistic constraints. A relativistic multiround protocol to achieve this was previously proposed and used to implement a 2-millisecond commitment time. Much longer durations were initially thought to be insecure, but recent theoretical progress showed that this is not so. In this Letter, we report on the implementation of a 24-hour bit commitment solely based on timed high-speed optical communication and fast data processing, with all agents located within the city of Geneva. This duration is more than 6 orders of magnitude longer than before, and we argue that it could be extended to one year and allow much more flexibility on the locations of the agents. Our implementation offers a practical and viable solution for use in applications such as digital signatures, secure voting and honesty-preserving auctions.
Schapira, D V; Kumar, N B; Clark, R A; Yag, C
Screening for breast cancer using mammography has been shown to be effective in reducing mortality from breast cancer. The authors attempted to determine if use of a wallet-size plastic screening "credit" card would increase participants' compliance for subsequent mammograms when compared with traditional methods of increasing compliance. Two hundred and twenty consecutive women, ages 40-70 years, undergoing their first screening mammography were recruited and assigned randomly to four groups receiving (1) a reminder plastic credit card (2) reminder credit card with written reminder; (3) appointment card; and (4) verbal recommendation. Return rates of the four groups were determined after 15 months. The return rate for subsequent mammograms was significantly higher for participants (72.4%) using the credit card than for participants (39.8%) exposed to traditional encouragement/reminders (P less than 0.0001). The credit card was designed to show the participant's screening anniversary, and the durability of the card may have been a factor in increasing the return rate. The use of reminder credit cards may increase compliance for periodic screening examinations for other cancers and other chronic diseases.
Full Text Available Business and credit cycles have an impact on credit insurance, as they do on other businesses. Nevertheless, in credit insurance, the impact of the systemic risk is even more important and can lead to major losses during a crisis. Because of this, the insurer surveils and manages policies almost continuously. The management actions it takes limit the consequences of a downturning cycle. However, the traditional modeling of economic capital does not take into account this important feature of credit insurance. This paper proposes a model aiming to estimate future losses of a credit insurance portfolio, while taking into account the insurer’s management actions. The model considers the capacity of the credit insurer to take on less risk in the case of a cycle downturn, but also the inverse, in the case of a cycle upturn; so, losses are predicted with a more dynamic perspective. According to our results, the economic capital is over-estimated when not considering the management actions of the insurer.
Full Text Available Micro credit programs, which are based on lending money on interest and encouraging savings, have been first been used in Southern countries and are now being implemented worldwide. Mainly aimed at the rural poor, particularly poor women, micro credit programs seek to ensure sustainable economic development in line with the requirements of global capitalism and to include women in the productive activities of the market. Micro credit has been made institutionalized based on three main paradigms, namely financial sustainability, poverty alleviation and women’s empowerment. In micro credit programs, where the emphasis on women’s empowerment is strong, the lack of a social gender perspective is striking. In fact, women may face patriarchal pressure and restrictions at the start in access to loans, loan usage models, participation to the productive activities in the market and during loan repayment. Thus the allegation that by way of micro credit, women will be empowered in terms of economic, social and political means in the family and society becomes questionable. This article, by problematizing women’s relationship with micro credit, will discuss social gender relationships which prevent them from making use of these programs as they wish and from achieving the results they intend
Research purpose: The purpose of this empirical paper was to examine the predictive performance of credit scoring systems in Taiwan. Motivation for the study: Corporate lending remains a major business line for financial institutions. However, in light of the recent global financial crises, it has become extremely important for financial institutions to implement rigorous means of assessing clients seeking access to credit facilities. Research design, approach and method: Using a data sample of 10 349 observations drawn between 1992 and 2010, logistic regression models were utilised to examine the predictive performance of credit scoring systems. Main findings: A test of Goodness of fit demonstrated that credit scoring models that incorporated the Taiwan Corporate Credit Risk Index (TCRI, micro- and also macroeconomic variables possessed greater predictive power. This suggests that macroeconomic variables do have explanatory power for default credit risk. Practical/managerial implications: The originality in the study was that three models were developed to predict corporate firms’ defaults based on different microeconomic and macroeconomic factors such as the TCRI, asset growth rates, stock index and gross domestic product. Contribution/value-add: The study utilises different goodness of fits and receiver operator characteristics during the examination of the robustness of the predictive power of these factors.
Full Text Available The presence of different risk factors in international trade gives evidence of the necessity of support in gaps that may affect exporters’ activity. To maximize the trade volumes and in the same time to minimize the exporters’ risks the stakeholders use trade credit insurance. The paper provides analysis of conceptual background of the trade credit insurance in the world. We analyzed briefly the problems, arising in insurance markets due to asymmetric information, such as adverse selection and moral hazard. Also we discuss the main stages of development of trade credit insurance in countries worldwide. Using comparative and graphical analysis we provide a brief evaluation of the dynamics of claims and recoveries for different forms of trade credit insurance. We found that the claims related to the commercial risk for medium and long trade credits in recent years exceed the recoveries, while with the political risk the reverse trend holds. And we originally consider these findings in terms of information asymmetry in the trade credit insurance differentiated by type of risk.
Mirjana Pejić Bach
Full Text Available Credit cards have become one of the major ways for conducting cashless transactions. However, they have a long term impact on the well being of their owner through the debt generated by credit card usage. Credit card issuers approve high credit limits to credit card owners, thereby influencing their credit burden. A system dynamics model has been used to model behavior of a credit card owner in different scenarios according to the size of a credit limit. Experiments with the model demonstrated that a higher credit limit approved on the credit card decreases the budget available for spending in the long run. This is a contribution toward the evaluation of action for credit limit control based on their consequences.
McCall, Michael; Trombetta, Jessica; Gipe, Aimee
Prior research had suggested that individuals would estimate higher product values and even tip more in the presence of credit cues. In the absence of a clear theoretical interpretation of this credit card effect we propose that this tendency is an impression management strategy such that credit cue exposure influences perceptions of the self and focuses attention on individual wealth. Thus, in the presence of others, credit cues serve to enhance images of the self. Preliminary data in support of this alternative theoretical perspective are presented.
The United States (U.S.) geothermal industry has a 45-year history. Early developments were centered on a geothermal resource in northern California known as The Geysers. Today, most of the geothermal power currently produced in the U.S. is generated in California and Nevada. The majority of geothermal capacity came on line during the 1980s when stable market conditions created by the Public Utility Regulatory Policies Act (PURPA) in 1978 and tax incentives worked together to create a wave of geothermal development that lasted until the early 1990s. However, by the mid-1990s, the market for new geothermal power plants began to disappear because the high power prices paid under many PURPA contracts switched to a lower price based on an avoided cost calculation that reflected the low fossil fuel-prices of the early 1990s. Today, market and non-market forces appear to be aligning once again to create an environment in which geothermal energy has the potential to play an important role in meeting the nation's energy needs. One potentially attractive incentive for the geothermal industry is the Production Tax Credit (PTC). The current PTC, which was enacted as part of the Energy Policy Act of 1992 (EPAct) (P.L. 102-486), provides an inflation-adjusted 1.5 cent per kilowatt-hour (kWh) federal tax credit for electricity produced from wind and closed-loop biomass resources. Proposed expansions would make the credit available to geothermal and solar energy projects. This report focuses on the project-level financial impacts of the proposed PTC expansion to geothermal power plants.
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 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.
In the summer, the three CERN restaurants remain open during their usual hours. On Monday 1st August and Thursday 8 September, the Restaurant 1 will be open from 7:00 a.m. to 10:00 p.m. The satellites will be open as follows: Building 6: normal hours Building 13: normal hours Building 30: normal hours Building 40: closing at 4:30 p.m. instead of 5:00 pm Building 54: normal hours in July, closed in August Building 864: normal hours Building 865: normal hours Building 774: normal hours
In terms of the National Credit Act a credit provider may conclude a credit agreement with a consumer only after he has made a proper financial assessment and concludes that the consumer will be able to satisfy all of his obligations under all his credit agreements. However, a practice of not conducting this affordability ...
... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Unfair credit practices. 706.2 Section 706.2 Banks and Banking NATIONAL CREDIT UNION ADMINISTRATION REGULATIONS AFFECTING CREDIT UNIONS CREDIT... attachment, execution, or other process on real or personal property held, owned by, or due to the consumer...
... 25 Indians 1 2010-04-01 2010-04-01 false Credit at trader's risk. 140.23 Section 140.23 Indians....23 Credit at trader's risk. Credit given Indians will be at the trader's own risk, as no assistance... accept pawns or pledges of personal property by Indians to obtain credit or loans. ...
... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Risk mitigation credit. 702.108 Section 702.108... CORRECTIVE ACTION Net Worth Classification § 702.108 Risk mitigation credit. (a) Who may apply. A credit union may apply for a risk mitigation credit if on any of the current or three preceding effective dates...
... 20 Employees' Benefits 3 2010-04-01 2010-04-01 false Avoidance of tax credit reduction. 606.23 Section 606.23 Employees' Benefits EMPLOYMENT AND TRAINING ADMINISTRATION, DEPARTMENT OF LABOR TAX CREDITS... Tax Credit Reduction § 606.23 Avoidance of tax credit reduction. (a) Applicability. Subsection (g) of...
This study examines the extent to which banks' credit affects economic growth in Nigeria. The data used was collected from the Central Bank of Nigeria statistical bulletin for a period of 24 years from 1990 to 2013. We used credit to the private sector, credit to the public sector and inflation to proxy commercial bank credit ...
... inadvertently included particular investments that did not--when subject to the other credit risk and asset... NATIONAL CREDIT UNION ADMINISTRATION 12 CFR Part 707 RIN 3133-AD58 Corporate Credit Unions, Technical Corrections AGENCY: National Credit Union Administration (NCUA). ACTION: Final rule. SUMMARY: In...
Lichtenberger, Eric; Witt, M. Allison; Blankenberger, Bob; Franklin, Doug
The use of dual credit has been expanding rapidly. Dual credit is a college course taken by a high school student for which both college and high school credit is given. Previous studies provided limited quantitative evidence that dual credit/dual enrollment is directly connected to positive student outcomes. In this study, predictive statistics…
... 26 Internal Revenue 14 2010-04-01 2010-04-01 false Credit for gift tax. 20.2012-1 Section 20.2012... TAXES ESTATE TAX; ESTATES OF DECEDENTS DYING AFTER AUGUST 16, 1954 Credits Against Tax § 20.2012-1 Credit for gift tax. (a) In general. With respect to gifts made before 1977, a credit is allowed under...
... 20 Employees' Benefits 3 2010-04-01 2010-04-01 false Cap on tax credit reduction. 606.20 Section 606.20 Employees' Benefits EMPLOYMENT AND TRAINING ADMINISTRATION, DEPARTMENT OF LABOR TAX CREDITS... Tax Credit Reduction § 606.20 Cap on tax credit reduction. (a) Applicability. Subsection (f) of...
... 20 Employees' Benefits 1 2010-04-01 2010-04-01 false Employer tax credits. 227.5 Section 227.5... SUPPLEMENTAL ANNUITIES § 227.5 Employer tax credits. Employers are entitled to tax credits if they pay non.... The tax credits for each month equal the sum of the reductions for employer pensions in the...
... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Farm Credit System Insurance Corporation. 1400.1 Section 1400.1 Banks and Banking FARM CREDIT SYSTEM INSURANCE CORPORATION ORGANIZATION AND FUNCTIONS Organization and Functions § 1400.1 Farm Credit System Insurance Corporation. The Farm Credit...
... FARM CREDIT SYSTEM INSURANCE CORPORATION Farm Credit System Insurance Corporation Board Meeting AGENCY: Farm Credit System Insurance Corporation. SUMMARY: Notice is hereby given of the regular meeting of the Farm Credit System Insurance Corporation Board (Board). Date and Time: The meeting of the...
... working hours fall in this category. The agreement of the parties to provide compensation for such hours... regular rate of an employee if the hours are compensated at the same rate as other working hours. The.... Activities of this type include eating meals between working hours. Where it appears from all the pertinent...
In the empirical literature on labour supply, several models are developed to incorporate constraints on working hours. These models do not address the question to which extent working hours are constrained within and between jobs. In this paper I investigate the effect of individual changes in labour supply preferences on actual working hours. The availability of subjective information on the individual’s preferred working hours gives direct measures on the degree of adjustment of working ho...
Constant, Amelie F.; Otterbach, Steffen
If individuals reveal their preference as consumers, then they are taken seriously. What happens if individuals, as employees, reveal their preferences in working hours? And what happens if there is a misalignment between actual hours worked and preferred hours, the so-called work hours constraints? How does this affect the productivity of workers, their health, and overall life satisfaction? Labor supply and corresponding demand are fundamental to production. Labor economists know for long t...
Lim, X.; Lam, W. H.; Shamsuddin, A. H.
The introduction of Clean Development Mechanism (CDM) to Malaysia improves the environment of the country. Besides achieving sustainable development, the carbon credit earned through CDM enhances the financial state of the nation. Both CDM and renewable energy contribute to the society by striving to reduce carbon emission. Most of the CDM projects are related to renewable energy, which recorded 69% out of total CDM projects. This paper presents the energy overview and status of renewable energies in the country. Then, the renewable energy will be related to the CDM.
Full Text Available This study aims to analyze the determinants of Islamic banking credit default compared with conventional banking in Indonesia. This study utilized timeseries analysis, by which ordinary least square method is adopted. 40 monthly data observations from January 2003 until April 2006 are used. The study is divided into two models, namely Islamic banking model and conventional banking model. The values of non-performing financing (NPF in Islamic banking and non-performing loan (NPL in conventional banking are treated as the dependent variables. The results showed that two-month lagged of non-performing financing (NPF, total asset (ASSET, the amount of thirdparty-funds (TPF, one-month lagged of total financing (DFIN, and growthof gross-domestic product (GDPG variables have significant impact to the ratio of non-performing financing (NPF in Islamic banking. Meanwhile, the three-month lagged of non-performing loan (DDDNPL, total asset (CASSET, three-month as well as two-month period lagged of total loan (DDDCRED and DDCRED, inter-bank money market (PUAB, and growth of gross-domestic (GDPG are significant to influence the ratio of non-performing loan (NPL in conventional banking. The result also implied that the general election in 2004 had a significant influence to the ratio of non-performing financing (NPF in Islamic banking.Even tough from the outset, it seems Islamic banking has a better performance than conventional banking by having a relatively low NPF, this study, however, has found the opposite. Albeit, Islamic banking showing a good long-runas well as short-run dynamics among all variables in the beginning, after modifying the model into autoregressive in the main analysis, results showed that conventional banking has a better performance than Islamic banking with higher correlation of determination. In this regard, we cannot assume thatIslamic banking is performing poorly in managing credit default problems. This is because the result
Lim, X; Lam, W H; Shamsuddin, A H
The introduction of Clean Development Mechanism (CDM) to Malaysia improves the environment of the country. Besides achieving sustainable development, the carbon credit earned through CDM enhances the financial state of the nation. Both CDM and renewable energy contribute to the society by striving to reduce carbon emission. Most of the CDM projects are related to renewable energy, which recorded 69% out of total CDM projects. This paper presents the energy overview and status of renewable energies in the country. Then, the renewable energy will be related to the CDM.
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 Kisan Credit Card (KCC has now been regarded as the only medium of short-term credit for agriculture. The Kisan Credit Card (KCC scheme was introduced by the Finance Minister in his budget speech in the year 1998-99. From the year 1998-99, the scheme was implemented by public sector commercial banks, RRBs (Regional Rural Banks and cooperative banks in the country. It has emerged as an innovative credit distribution system to meet the production credit requirements of the farmers in a timely and easy manner. The present paper is aimed to study role of Kisan Credit Card in the rural credit facilitation in India.
... 46 Shipping 1 2010-10-01 2010-10-01 false Working hours. 15.710 Section 15.710 Shipping COAST... Limitations and Qualifying Factors § 15.710 Working hours. In addition to prescribing watch requirements, 46 U.S.C. 8104 sets limitations on the working hours of credentialed officers and crew members...
... flexibility would not increase safety risks or adversely impact driver health? 3. How many hours per day and... period long enough to provide restorative sleep regardless of the number of hours worked prior to the... No. FMCSA-2004-19608] RIN 2126-AB26 Hours of Service AGENCY: Federal Motor Carrier Safety...
Congress passed legislation last week that would shield students and other consumers from sudden spikes in interest rates and fees, but that could make it harder for young people to access credit to pay for college. The legislation would extend broad new consumer protections to all credit-card holders, offering special protections to college…
Cheng, X.; Degryse, H.A.
We provide the first evidence on how the introduction of information sharing via a public credit registry affects banks’ lending decisions. We employ a unique dataset containing detailed information on credit card applications and decisions from one of the leading banks in China. While we do not
Credit markets have shown a dramatic development at the start of the 21st century. Increased regulatory pressure on financial institutions has spurred the development of innovative products that allow for transfer of credit risk. These developments lay at the base of the largest financial crisis
Jensen, Barbara J.; And Others
This instructional guide adds two new sections to the original guide published in May 1982. The guide was designed to assist educators in teaching the topics of consumer credit and consumer credit protection to secondary and postsecondary students in various economics and business courses, as well as in adult and community education courses. The…
Fabbri, D.; Klapper, L.F.
This paper studies the decision of firms to extend trade credit to customers and its relation with their financing decisions. We use a novel firm-level database with unique information on market power in both output and input markets and on the amount, terms and payment history of trade credit
K. K. Aggarwal
Full Text Available In order to stimulate demand of their product, firms generally give credit period to their customers. However, selling on credit exposes the firms to the additional dimension of bad debts expense (i.e., customer’s default. Moreover, credit period through its influence on demand becomes a determinant of inventory decisions and inventory sold on credit gets converted to accounts receivable indicating the interaction between the two. Since inventory and credit decisions are interrelated, inventory decisions must be determined jointly with credit decisions. Consequently, in this paper, a mathematical model is developed to determine inventory and credit decisions jointly. The demand rate is assumed to be a logistic function of credit period. The accounts receivable carrying cost along with an explicit consideration of bad debt expense which have been often ignored in previous models are incorporated in the present model. The discounted cash flow approach (DCF is used to develop the model and the objective is to maximize the present value of the firm’s net profit per unit time. Finally, numerical example and sensitivity analysis have been done to illustrate the effectiveness of the proposed model.
... NCUA's neutrality in the final rule and has made this change. A commenter also suggested including this..., where the net worth ratio of the merging credit union exceeds the net worth ratio of the continuing... are entitled to the net worth of a merging credit union. The NCUA Board disagrees. As discussed in the...
Schaltegger, Stefan; Thomas, Tom
To date, sources of hazardous, toxic, or otherwise harmful emissions have been regulated on a pollutant by pollutant basis. Environmental policies, even the more advanced 'incentive-based' programs, have focused on individual substances rather than on the overall environmental problem to which the substances contribute. This has produced results that are less economically efficient and ecologically effective than is desirable. A more comprehensive approach combines the principles of emission reduction credit trading with advances made recently in the field of environmental impact assessment, to yield an advanced form of inter-pollutant trading, which we refer to as pollution added credit trading (PACT). PACT incorporates a method for estimating the total environmental harm generated (pollution added) by a facility emitting a variety of pollutants. Weightings that reflect relative harm are used to calculate total pollution added. Each facility covered by PACT would receive annual allowances for total pollution added that they could discharge to the environment. As with existing emissions trading programs, surplus allowances could be sold and shortfalls would be covered by purchasing other facilities' surplus allowances. PACT is more efficient than single-pollutant emissions trading in that it captures differences in marginal reduction costs that exist between pollutants as well as between facilities. It is more ecologically effective because it focuses on the overall environmental problem, rather than on the individual pollutants that contribute to the problem
Yang, Bijou; Lester, David
In a sample of 352 students, correlates of credit card ownership differed by sex. For both men and women, credit card ownership was predicted by their affective attitude toward credit cards. However, whereas for men concern with money as a tactic for gaining power predicted credit card ownership, for women feelings of insecurity about having sufficient money and having a conservative approach to money predicted credit card ownership.
Kimberley A. Scharf
This paper examines the role of international tax evasion for the choice of an optimal foreign tax credit by a capital exporting region. Since a foreign tax credit raises the opportunity cost of concealing foreign source income, it can be employed to discourage evasion activity. The existence of international tax evasion possibilities could thus help rationalize a choice of tax credit in excess of a deduction-equivalent credit level. Our analysis shows that, in general the optimal credit will...
..., Risk Management, Farm Credit System Insurance Corporation. (f) A direct lender association shall... Administration office that the Chief Examiner designates, and the Director, Risk Management, Farm Credit System... Credit Banks or agricultural credit banks and direct lender associations. 614.4125 Section 614.4125 Banks...
Robert Drago; David Black; Mark Wooden
Previous research hypothesizes that long working hours are related to consumerism, the ideal worker norm, high levels of human capital, and a high cost-of-job-loss. The authors test these hypotheses using panel data on working hours for an Australian sample of full-time employed workers. Analyses include a static cross-sectional model and a persistence model for long hours over time. The results suggest that long hours (50 or more hours in a usual week) are often persistent, and provide stron...
Full Text Available Credit institutions supervising mission by state authorities is mostly assimilated with systemic risk prevention. In present, the mission is orientated on analyzing the risk profile of the credit institutions, the mechanism and existing systems as management tools providing to bank rules the proper instruments to avoid and control specific bank risks. Rating systems are sophisticated measurement instruments which are capable to assure the above objectives, such as success in banking risk management. The management quality is one of the most important elements from the set of variables used in the quoting process in credit operations. Evaluation of this quality is – generally speaking – fundamented on quantitative appreciations which can induce subjectivism and heterogeneity in quotation. The problem can be solved by using, complementary, quantitative technics such us DEA (Data Envelopment Analysis.
Comparison of spent fuel storage expansion options available to Oconee Nuclear Station revealed that dry storage could be economically competitive with transshipment and rod consolidation. Economic competitiveness, however, mandated large unit capacity while existing cask handling facilities at Oconee severely limited size and weight. The dry storage concept determined to best satisfy these conflicting criteria is a 24 pressurized water reactor (PWR) fuel assembly capacity NUTECH Horizontal Modular Storage (NUHOMS) system. The Oconee version of the NUHOMS system takes advantage of burnup credit in demonstrating criticality safety. The burnup credit criticality analysis was performed by Duke Power Company's Design Engineering Department. This paper was prepared to summarize the criticality control design features employed in the Oconee NUHOMS-24P DSC basket and to describe the incentives for pursuing a burnup credit design. Principal criticality design parameters, criteria, and analysis methodology are also presented
Full Text Available Catastrophe bonds are the most important products in catastrophe risk securitization market. For the operating mechanism, CAT bonds may have a credit risk, so in this paper we consider the influence of the credit risk on CAT bonds pricing that is different from the other literature. We employ the Jarrow and Turnbull method to model the credit risks and get access to the general pricing formula using the Extreme Value Theory. Furthermore, we present an empirical pricing study of the Property Claim Services data, where the parameters in the loss function distribution are estimated by the MLE method and the default probabilities are deduced by the US financial market data. Then we get the catastrophe bonds value by the Monte Carlo method.
Patents, copyrights, trademarks… there are many ways to protect intellectual property and yet, despite these precautionary measures, it seems that colleagues sometimes still slip up: plots done by one person are used in another’s presentation without being appropriately credited, citations are wrongly assigned, references are inaccurate… Plagiarism and misappropriation do not only happen in the worlds of art, music and literature. Often in our world, during the preparation phase of a scientific paper or even just in their daily work, scientists are required to share the work of many contributors and sometimes they do not keep track of who did what. No-one minds as long as this stays within the limits of teamwork, in which credits are distributed evenly and nobody’s contribution gets forgotten. Problems arise however, when one person’s work ends up being presented by another without the correct credit, or indeed when someone is held back from p...
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.
... Index Version of Fungible Contracts After a Credit Event or a Succession Event; Updating Relevant... official business days between the hours of 10:00 a.m. and 3:00 p.m. Copies of such filings also will be...
Full Text Available Balance is a static tool for assessing the entity's position, profit and loss on one hand and cash flow statement on the other hand. These are dynamic situations on one hand showing the effectiveness or ineffectiveness of the total consumption of resources ( profit and loss and on the other hand entity's business viability (by cash flows. As reflection of financial position, the balance, established at the end of the reporting period (called a financial year, describes separately items of assets, liabilities and equity of the company. Assets are resources controlled by the enterprise as a result of past events and from which is expected to generate future economic benefits for the enterprise. The economic benefits correspond to a production potential, a possibility for conversion into cash or a reduction in output capacity of funds (cost reduction that an asset contributes, directly or indirectly to a company-specific cash flow.
Gapko, Petr; Šmíd, Martin
Roč. 60, č. 10 (2012), s. 1005-1023 ISSN 0013-3035 R&D Projects: GA ČR GD402/09/H045; GA ČR(CZ) GBP402/12/G097 Grant - others:Univerzita Karlova(CZ) 46108 Institutional research plan: CEZ:AV0Z10750506 Institutional support: RVO:67985556 Keywords : credit risk * mortgage * delinquency rate * generalized hyperbolic distribution * normal distribution Subject RIV: AH - Economics Impact factor: 0.194, year: 2012 http://library.utia.cas.cz/separaty/2013/E/smid-modeling a distribution of mortgage credit losses.pdf
Gapko, Petr; Šmíd, Martin
Roč. 23, č. 23 (2010), s. 1-23 R&D Projects: GA ČR GA402/09/0965; GA ČR GD402/09/H045 Grant - others:Univerzita Karlova - GAUK(CZ) 46108 Institutional research plan: CEZ:AV0Z10750506 Keywords : Credit Risk * Mortgage * Delinquency Rate * Generalized Hyperbolic Distribution * Normal Distribution Subject RIV: AH - Economics http://library.utia.cas.cz/separaty/2010/E/gapko-modeling a distribution of mortgage credit losses-ies wp.pdf
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.
Münnix, Michael C; Schäfer, Rudi; Guhr, Thomas
We estimate generic statistical properties of a structural credit risk model by considering an ensemble of correlation matrices. This ensemble is set up by Random Matrix Theory. We demonstrate analytically that the presence of correlations severely limits the effect of diversification in a credit portfolio if the correlations are not identically zero. The existence of correlations alters the tails of the loss distribution considerably, even if their average is zero. Under the assumption of randomly fluctuating correlations, a lower bound for the estimation of the loss distribution is provided.
Michael C Münnix
Full Text Available We estimate generic statistical properties of a structural credit risk model by considering an ensemble of correlation matrices. This ensemble is set up by Random Matrix Theory. We demonstrate analytically that the presence of correlations severely limits the effect of diversification in a credit portfolio if the correlations are not identically zero. The existence of correlations alters the tails of the loss distribution considerably, even if their average is zero. Under the assumption of randomly fluctuating correlations, a lower bound for the estimation of the loss distribution is provided.
Dion Bongaerts; K.J. Martijn Cremers; William N. Goetzmann
textabstract Abstract: 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 this competitive interaction over the period 2002 to 2007. Virtually all bonds in our sample are rated by both Moody’s and Standard and Poors (S&P), and between 40% and 60% ...
Riana Iren RADU
Full Text Available The constitution of the specific risk prevision refers to their creation and is realized including in the cost the sum representing the level of the necessary specific risk provisions, in case there is no provision. The constitutions, regulation and the utilization of specific risk provisions will be realized using the credit currency and/or the investments they correct. Specific risk provisions are to be determined only for the client’s balance sheet engagements. The calculation for the necessary volume of provisions is realized for each and every credit contract referring to the final client classification category.
Full Text Available Agriculture is an important sector in Turkey’s economy. Access to credit financing is critical for timely acquisition of different inputs, farm productivity, and ultimately farmers’ financial well-being. Historically, Ziraat Bank and Agricultural Credit Cooperatives, supported by Turkish government, have been the principle supplier of loanable funds in the agricultural sector. However, since 2000, many private banks have discovered the potential of this market and entered the competition. This study was designed to investigate the structure of the agricultural credit market in Turkey and identify factors that influence farmers’ preference among alternative lenders. It was found that although the 550 Turkish farmers surveyed had several options among lenders, low interest rates and attainable eligibility criteria emerged as the most important differentiators among banks. Results from the Analytic Hierarchy Process (AHP demonstrate the rising role of private banks’ credit. However, Ziraat Banks’ subsidized credits still dominant and its composite weight is 30.74% of total amount of agricultural credit market.
Wu, Chengfeng; Zhao, Qiuhong
The purpose of the paper is to formulate two uncooperative replenishment models with demand and default risk which are the functions of the trade credit period, i.e., a Nash equilibrium model and a supplier-Stackelberg model. Firstly, we present the optimal results of decentralized decision and centralized decision without trade credit. Secondly, we derive the existence and uniqueness conditions of the optimal solutions under the two games, respectively. Moreover, we present a set of theorems and corollary to determine the optimal solutions. Finally, we provide an example and sensitivity analysis to illustrate the proposed strategy and optimal solutions. Sensitivity analysis reveals that the total profits of supply chain under the two games both are better than the results under the centralized decision only if the optimal trade credit period isn't too short. It also reveals that the size of trade credit period, demand, retailer's profit and supplier's profit have strong relationship with the increasing demand coefficient, wholesale price, default risk coefficient and production cost. The major contribution of the paper is that we comprehensively compare between the results of decentralized decision and centralized decision without trade credit, Nash equilibrium and supplier-Stackelberg models with trade credit, and obtain some interesting managerial insights and practical implications.
Libardo Quintero Salazar
Full Text Available When a contract of international sale of goods is mediated by a form of payment as the documentary credit, exporters that initially lack financial resources to produce or obtain merchandise that then will be delivered to the importer, look as first natural possibility of financing the transfer for the documentary credit. Now not always the credit can be transferable in accordance with the Uniform Customs and Practice for Documentary Credits (UCP – because, for example, the importer or the financial entity do not want it in that way. Given the above scenario, this article aims to provide solutions, explaining legal alternatives for the exporter that is not in the UCP-, to use the money that might correspond as a result of the documentary credit, to finance the production or acquisition of goods against other traders, and then reselling them to the importer. It concludes that the exporter can achieve such immediate funding - similar to what encourage the transfer of documentary credit - using to their relations with the supplier, figures as the assignment of a future credit, banker’s acceptance and contract terms.
Liu, Wenjin; Ye, Hong; Tang, Bing; Sun, Zhiping; Wen, Ping; Wu, Wenhui; Bian, Xueqing; Shen, Xia; Yang, Junwei
The two most commonly used strategies to evaluate dialysis patients' blood pressure (BP) level are 44-hour and 24-hour ambulatory blood pressure monitoring (ABPM). The objective of this study was to find an appropriate 24-hour period that correlated well with the 44-hour BP level and determine the differences between these strategies. In a group of 51 dialysis patients, the authors performed 44-hour ABPM and extracted data for a fixed 24-hour ABPM. The fixed 24-hour ABPM started at 6 am on the nondialysis day. A strong correlation was found between all parameters of 44-hour and the fixed 24-hour ABPM, with paired sample t test showing only small magnitude changes in a few parameters. Both 24-hour ABPM and 44-hour ABPM were superior to clinic BP in predicting left ventricular mass index (LVMI) by multiple regression analysis. It was found that 44-hour ambulatory arterial stiffness index (AASI), but not 24-hour AASI, had a positive association with LVMI (r=0.328, P=.021). However, after adjustment for 44-hour systolic blood pressure, this association disappeared. Fixed 24-hour ABPM is a good surrogate of 44-hour ABPM to some extent, while 44-hour ABPM can provide more accurate and detailed information. ©2013 Wiley Periodicals, Inc.
Full Text Available Background: Jaundice is one of the most frequent problems observed in newborns. Our purpose was to investigate the incidence and the risk factors on jaundice noted in the first 24 hours after birth.Methods: All newborns observed to have jaundice within the first 24 hours after birth were enrolled prospectively in this study. Laboratory evaluations included blood group typing of mother and newborn, hemoglobin and hematocrit, complete blood count, peripheral blood smear, reticulocyte count, G6PD activity, maternal indirect and neonatal direct Coombs test, and serum total, conjugated, and unconjugated bilirubin. In all cases, gender, birth weight, Apgar scores, gestational age, mode of delivery, birth trauma, cephalhematoma, maternal age, parity, or any siblings with neonatal jaundice were recorded. Data were analyzed using one-way ANOVA, Student's t-, and chi-square tests.Results: Of a total of 2096 newborns delivered in one year, 122 (5.8% developed jaundice within the first 24 hours after birth. Risk factors for hyperbilirubinemia were ABO incompatibility, prematurity, infection, G6PD deficiency, cephalhematoma, asphyxia, and Rh disease. There were no statistically significant relationships between jaundice and maternal age, parity, mode of delivery, neonatal gender or previous siblings with jaundice (p>0.05.Conclusions: Jaundice observed in the initial 24 hours after birth was infrequent, but clinically significant. All newborns should be followed by repeated exams within the first 24 hours after birth and before discharge, especially if the maternal blood group is O.
Full Text Available This paper empirically investigates the determinants of domestic credit across a wide range of 7 countries; these are United Kingdom, Malaysia, Egypt, Kuwait, Qatar, Bahrain and Indonesia. We use dynamic panel estimation to examine effects of exchange rate, inflation, lending interest rate, banking crisis and existence of wholesale Islamic banking on domestic credit. We obtain several notable empirical results. First, the lending interest rate, banking crisis negatively and insignificantly contribute to domestic credit. The existence of Islamic bank has positive and insignificant contribution to domestic credit, while exchange rate positively and significantly contributes to domestic credit. Inflation negatively and significantly contributes to domestic credit. Second, banking crisis and existence of wholesale Islamic banking show insignificant effect on domestic credit. Third, we find that today’s domestic credit is depended on domestic credit in the previous year.DOI: 10.15408/aiq9i2.4906
Anderson, J.F.; Kodjak, D.
Dedicated natural gas vehicles (NGVs) often are capable of testing to lower than federally required engine certification standards. NGVs often meet inherently low emission vehicle (ILEV) and ultra low emission vehicle (ULEV) standards. Over the useful life of the vehicle, a significant amount of mobile source emission reduction credits (MSERCs) can be generated. This paper will discuss key elements of establishing a workable methodology to quantify the emissions benefits generated through the purchase and use of heavy-duty natural gas vehicles instead of heavy-duty diesel vehicles. The paper will focus on a public fleet of transit buses owned by the Massachusetts Bay Transit Agency, the Massachusetts Port Authority, and a private fleet of waste haulers. Public fleets may generate emission credits as a key compliance option to offset emission shortfalls from changes to the Employee Commute Options (ECO) program, the Inspection and Maintenance program, and facilitate annual surface transportation conformity. Private fleets may generate emission credits for open market trading to area and stationary sources seeking to buy credits from mobile sources, where allowed by EPA and state policy
Hermes, Niels; Kihanga, Ernest; Lensink, Robert; Lutz, Clemens
Most small businesses in the developing economies suffer from a lack of access to formal external finance. One important alternative source of finance for these entrepreneurs is trade credit. Applying a unique data-set containing data on specific trade relations between rice wholesalers and rice
...(a)(4). Section III--Economic Advisability; Subsection B--Proposed Management's Character and Fitness... ``competence, experience, character, or integrity.'' The commenter suggested that these criteria should be the... any credit union depends on: (a) The character and fitness of management; (b) the depth of the members...
The work contained herein concerns the influence of supply chain dynamics in the effects of the (ongoing) international credit crisis. This project was carried out within Royal DSM N.V, a dutch life sciences and performance materials company. During the second half of 2008, DSM sales plummeted;
...) setting forth the requirements and process for chartering corporate federal credit unions. DATES: Comments... commitment (i.e., letters and/or contracts used to substantiate projections); and Services and marketing... assurance that the management team will have the requisite skills--particularly in leadership, accounting...
Campello, M.; Matta, R.
Credit default swaps (CDSs) are thought to ease borrowing by protecting lenders against default. This paper develops a model of the demand for CDS when borrowers choose the riskiness of investment and verification is imperfect. The model shows that CDSs may lead to risk-shifting, increasing the
The purpose of the Cask Systems Development Program (CSDP) is to develop a variety of cask systems which will allow safe and economical movement of commercial spent nuclear fuel and high-level waste from the generator to the Federal repository or Monitored Retrievable Storage (MRS) facility. Program schedule objectives for the initial phase of the CSDP include the development of certified spent fuel cask systems by 1995 to support Office of Civilian Radioactive Waste Management shipments from the utilities beginning in the late 1990s. Forty-nine proposals for developing a family of spent fuel casks were received and comparisons made. General conclusions that can be drawn from the comparisons are that (1) the new generation of casks will have substantially increased payloads in comparison to current casks, and (2) an even greater payload increase may be achievable with burnup credit. The ranges in the payload estimates do not allow a precise separation of the payload increase attributable to the proposed allowance of fuel burnup credit, as compared wilt the no-burnup-credit case. The beneficial effects of cask payload increases on overall costs and risks of transporting spent fuel are significant; therefore further work aimed toward taking advantage of burnup credit is warranted
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.…
Further Education Unit, London (England).
This document reports the evaluation of the collaborately developed Modular Training Framework (MainFrame), a British curriculum development project, built around a commitment to a competency-based, modular credit accumulation program. The collaborators were three local education authorities (LEAs), those of Bedfordshire, Haringey, and Sheffield,…
... 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...
In the paper the specification of WWER-1000 Burnup Credit Benchmark first phase (depletion calculations), given. The second phase - criticality calculations for the WWER-1000 fuel pin cell, will be given after the evaluation of the results, obtained at the first phase. The proposed benchmark is a continuation of the WWER benchmark activities in this field (Author)
... correcting adjustments necessary to conform with generally accepted accounting principles (GAAP) that were... report, signed by the chief executive officer and the chief accounting officer or chief financial officer... either the chief accounting officer or chief financial officer of the corporate credit union to sign the...
Christoffersen, Peter; Jacobs, Kris; Jin, Xisong
We characterize dependence in corporate credit and equity returns for 215 firms using a new class of large-scale dynamic copula models. Copula dependence and especially tail dependence are highly variable and persistent, increase significantly in the financial crisis, and have remained high since...
Futamura, Yoshiaki; Nakagome, Yoshihiro.
For the design and safety assessment of the casks for transporting spent fuel, the fuel contained in them has been assumed to be new fuel. The reason is, it was difficult to evaluate the variation of the reactivity of fuel, and the research on the affecting factors and the method of measuring burnup were not much advanced. Recently, high burnup fuel has been adopted, and initial degree of enrichment rose. The research has been advanced for pursuing the economy of the casks for spent fuel, and burnup credit has become applicable to their design and safety assessment. As the result, the containing capacity increases by about 20%. When burnup credit is considered, it is necessary to confirm accurately the burnup of spent fuel. The burnup dependence of the concentration of fissile substances and neutron emissivity, the coolant void dependence of the concentration of fissile substances, and the relation of neutron multiplication rate with initial degree of enrichment or burnup are discussed. The conceptual design of casks considering burnup credit and its assessment, the merit, problem and the countermeasures to it when burnup credit is introduced are described. (K.I.)
... of loans to consumption ends. Family planning, creating enabling conditions for insurance markets, and enhancing labour markets are areas of policy concerns that could further improve loan repayment performances. Key words: Agricultural credit, determinants, microfinance, ACSI, northwestern Ethiopia, Finoteselam ...
The study was conducted using 20 Micro-firms in Accra which ... Journal of Science and Technology, Vol. ... RESEARCH PAPER ... capital (measured by the borrower's net worth), ... number of firms existing in the market and the ... agers and/or staff of the credit management .... the firm's risk tolerance and the level of profit-.
developing countries face three major problems: adverse selection ... The concept of providing subsidized credit service to the poor ... The performance of MFIs is evaluated based on their level of ... households in developing countries. ... formal banks as they use the mechanism of group lending. ...... Evidence from Ghana.
Kirkwood, Hal P, Jr
Poster was presented at the Business & Finance Division Poster Session at the Special Libraries Association Annual Conference in Philadelphia, PA, 2016. Focus of the poster is on the credit-level courses taught by Prof Hal Kirkwood to MBA students in the Krannert Graduate School of Management on the topics of international business research and an introduction to competitive intelligence.
This paper considers the degree of competitiveness of the Dutch consumer credit market. We use the well-known Bresnahan-Lau method that estimates a structural model consisting of a demand relation and a supply relation, based on aggregate data. The level of competition is derived from the estimated
This paper considers the degree of competitiveness of the Dutch consumer credit market. We use the well-known I Bresnahan-Lau method that estimates it structural model consisting of a demand relation and a supply relation, based on aggregate data. The level of compelition is derived from the
Fabbri, D.; Menichini, A.M.C.
The paper proposes a model of collateralized bank and trade credit. Firms use a two-input technology. Assuming that the supplier is better able to extract value from existing assets and has an information advantage over other creditors, the paper derives a series of predictions. (1) Financially
Glas, Cornelis A.W.
The partial credit model (PCM) (G.N. Masters, 1982) can be viewed as a generalization of the Rasch model for dichotomous items to the case of polytomous items. In many cases, the PCM is too restrictive to fit the data. Several generalizations of the PCM have been proposed. In this paper, a
Verhelst, N. D.; Verstralen, H. H. F. M.
The Partial Credit Model (PCM) is sometimes interpreted as a model for stepwise solution of polytomously scored items, where the item parameters are interpreted as difficulties of the steps. It is argued that this interpretation is not justified. A model for stepwise solution is discussed. It is shown that the PCM is suited to model sums of binary…
South Carolina State Dept. of Education, Columbia.
An outline is presented of the objectives and content of courses offered for credit in high schools in South Carolina. Courses in the following subjects are described: (1) art; (2) drama; (3) driver education; (4) environmental education; (5) foreign language: French, German, Russian, Spanish; (6) health; (7) language arts; (8) mathematics; (9)…
market women have a low socio-economic status due to financial and ... market women have little or no access to micro credit schemes largely .... industry contributes to its poor performance in servicing the needs of the poor especially .... single; 11.1% are either divorced or separated; 33.3% are widows whereas a larger.
Edelstein, Frederick S.
The tax credit portion of the American Recovery and Reinvestment Act of 2009 (also known as the economic stimulus package or ARRA) has three different entities that can be used for various school construction including new, modernization, renovation and acquisition of sites for school projects. The bond rule notice and allocations have been issued…
Broer, DP; Heijdra, BJ
This pager develops a dynamic model of monopolistic competition with finite lives. It investigates the welfare properties of an investment tax credit (ITC) for both finite and infinite lives. For infinite lives, it shows that, lacking lump-sum taxes, an ITC suffices to attain a second-best solution.
Laurijssen, J; Faaij, A.P.C.
Global biomass potentials are considerable but unequally distributed over the world. Countries with Kyoto targets could import biomass to substitute for fossil fuels or invest in bio-energy projects in the country of biomass origin and buy the credits (Clean Development Mechanism (CDM) and Joint
Fabbri, D.; Klapper, L.F.
This paper studies supply chain financing. We investigate why a firm extends trade credit to its customers and how this decision relates to its own financing. We use a novel firm-level database with unique information on market power in both output and input markets and on the amount, terms, and
... Board, National Credit Union Administration, 1775 Duke Street, Alexandria, Virginia 22314- 3428. Hand... library at 1775 Duke Street, Alexandria, Virginia 22314, by appointment weekdays between 9 a.m. and 3 p.m... Attorney, Office of General Counsel; and Lisa Henderson, Staff Attorney, Office of General Counsel, at the...
Heikkila, Katriina; Nyberg, Solja T.; Madsen, Ida E. H.
in 116 462 men and women who were free of cancer at baseline. Incident cancers were ascertained from national cancer, hospitalisation and death registers; weekly working hours were self-reported. Results: During median follow-up of 10.8 years, 4371 participants developed cancer (n colorectal cancer: 393......Background: Working longer than the maximum recommended hours is associated with an increased risk of cardiovascular disease, but the relationship of excess working hours with incident cancer is unclear. Methods: This multi-cohort study examined the association between working hours and cancer risk......; n lung cancer: 247; n breast cancer: 833; and n prostate cancer: 534). We found no clear evidence for an association between working hours and the overall cancer risk. Working hours were also unrelated the risk of incident colorectal, lung or prostate cancers. Working greater than or equal to55 h...
O'Grady, Gregory; Harper, Simon; Loveday, Benjamin; Adams, Brandon; Civil, Ian D; Peters, Matthew
The demands of surgical training, learning and service delivery compete with the need to minimize fatigue and maintain an acceptable lifestyle. The optimal balance of working hours is uncertain. This study aimed to define the appropriate hours to meet these requirements according to trainees. All Australian and New Zealand surgical trainees were surveyed. Roster structures, weekly working hours and weekly 'sleep loss hours' (work practices were then correlated with sufficiency of training time, time for study, fatigue and its impacts, and work-life balance preferences. Multivariate and univariate analyses were performed. The response rate was 55.3% with responders representative of the total trainee body. Trainees who worked median 60 h/week (interquartile range: 55-65) considered their work hours to be appropriate for 'technical' and 'non-technical' training needs compared with 55 h/week (interquartile range: 50-60) regarded as appropriate for study/research needs. Working ≥65 h/week, or accruing ≥5.5 weekly 'sleep loss hours', was associated with increased fatigue, reduced ability to study, more frequent dozing while driving and impaired concentration at work. Trainees who considered they had an appropriate work-life balance worked median 55 h/week. Approximately, 60 h/week proved an appropriate balance of working hours for surgical training, although study and lifestyle demands are better met at around 55 h/week. Sleep loss is an important determinant of fatigue and its impacts, and work hours should not be considered in isolation. © 2012 The Authors. ANZ Journal of Surgery © 2012 Royal Australasian College of Surgeons.
Lopez Moris E
Full Text Available Total thyroidectomy is a surgery that removes all the thyroid tissue from the patient. The suspect of cancer in a thyroid nodule is the most frequent indication and it is presume when previous fine needle puncture is positive or a goiter has significant volume increase or symptomes. Less frequent indications are hyperthyroidism when it is refractory to treatment with Iodine 131 or it is contraindicated, and in cases of symptomatic thyroiditis. The thyroid gland has an important anatomic relation whith the inferior laryngeal nerve and the parathyroid glands, for this reason it is imperative to perform extremely meticulous dissection to recognize each one of these elements and ensure their preservation. It is also essential to maintain strict hemostasis, in order to avoid any postoperative bleeding that could lead to a suffocating neck hematoma, feared complication that represents a surgical emergency and endangers the patient’s life.It is essential to run a formal technique, without skipping steps, and maintain prudence and patience that should rule any surgical act.
Robert Drago; Mark Wooden; David Black
Panel data from Australia are used to study the prevalence of work hours mismatch among long hours workers and, more importantly, how that mismatch persists and changes over time, and what factors are associated with these changes. Particular attention is paid to the roles played by household debt, ideal worker characteristics and gender. Both static and dynamic multinomial logit models are estimated, with the dependent variable distinguishing long hours workers from other workers, and within...
Byrne, John M; Loo, Lawrence K; Giang, Dan W
Duty hour limits challenge professional values, sometimes forcing residents to choose between patient care and regulatory compliance. This may affect truthfulness in duty hour reporting. We assessed residents' reasons for falsifying duty hour reports. We surveyed residents in 1 sponsoring institution to explore the reasons for noncompliance, frequency of violations, falsification of reports, and the residents' awareness of the option to extend hours to care for a single patient. The analysis used descriptive statistics. Linear regression was used to explore falsification of duty hour reports by year of training. The response rate was 88% (572 of 650). Primary reasons for duty hour violations were number of patients (19%) and individual patient acuity/complexity (19%). Junior residents were significantly more likely to falsify duty hours (R = -0.966). Of 124 residents who acknowledged falsification, 51 (41%) identified the primary reason as concern that the program will be in jeopardy of violating the Accreditation Council for Graduate Medical Education (ACGME) duty hour limits followed by fear of punishment (34, 27%). This accounted for more than two-thirds of the primary reasons for falsification. Residents' falsification of duty hour data appears to be motivated by concerns about adverse actions from the ACGME, and fear they might be punished. To foster professionalism, we recommend that sponsoring institutions educate residents about professionalism in duty hour reporting. The ACGME should also convey the message that duty hour limits be applied in a no-blame systems-based approach, and allow junior residents to extend duty hours for the care of individual patients.
Working hours across the world are falling, but considerable variation remains. In some countries people work 70% more hours per year, on average, than in other countries. Much of this variation is due to differences in the prevalence of part-time work and patterns of female labor market participation. Looking ahead, the question of how reducing working hours will affect productivity is significant. In addition, how individuals divide up their leisure and work time and what the appropriate wo...
OHTAKE Fumio; OKUDAIRA Hiroko
In this paper we set out the economic grounds for restrictions on long working hours and conduct an empirical analysis using surveys from the perspective of behavioral economics. The results of the analysis indicate that, on a year-on-year basis, if state of health improves, the probability of working more than 60 hours per week increases significantly, but that even when state of health deteriorates there is no decrease in the probability of working long hours. Moreover, among male managemen...
Chanzy, Y.; Guillou, E.
Facing a continuous increase in the fuel enrichments, COGEMA and TRANSNUCLEAIRE have implemented step by step a burnup credit programme to improve the capacity of their equipment without major physical modification. Many authorizations have been granted by the French competent authority in wet storage, reprocessing and transport since 1981. As concerns transport, numerous authorizations have been validated by foreign competent authorities. Up to now, those authorizations are restricted to PWR Fuel type assemblies made of enriched uranium. The characterization of the irradiated fuel and the reactivity of the systems are evaluated by calculations performed with well qualified French codes developed by the CEA (French Atomic Energy Commission): CESAR as a depletion code and APPOLO-MORET as a criticality code. The authorizations are based on the assurance that the burnup considered is met on the least irradiated part of the fuel assemblies. Besides, the most reactive configuration is calculated and the burnup credit is restricted to major actinides only. This conservative approach allows not to take credit for any axial profile. On the operational side, the procedures have been reevaluated to avoid misloadings and a burnup verification is made before transport, storage and reprocessing. Depending on the level of burnup credit, it consists of a qualitative (go/no-go) verification or of a quantitative measurement. Thus the use of burnup credit is now a common practice in France and Germany and new improvements are still in progress: extended qualifications of the codes are made to enable the use of six selected fission products in the criticality evaluations. (author)
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. Formal loans are almost entirely for production and asset accumulation, while informal loans are used...... for consumption smoothening. Interest rates fell from 1997 to 2002, reflecting increased market integration. Moreover, the determinants of formal and informal credit demand are distinct. While credit rationing depends on education and credit history, in particular, regional differences in the demand for credit...
V. E. Gladkova
Full Text Available Accurate accounting of own expenses on rendering banking services and forming reasonable prices for them make it possible for commercial banks to adequately react to market situation changes. Credit risk minimization comprises: credit rationing (in Russia according to RF Central Bank norms; credit diversification; credit structuring; and forming reserves to cover respective bank risks (also in accordance with RF CB documents. Effective is bank credit hedging (insuring through credit derivatives. Most advanced at international finance markets are such risk minimization systems as Basel-II and IRBA. Pricing models based on individual assessment of each borrower’s risk class (Risk Based Pricing approach are widely used.
Full Text Available When the government establishes a social program whose primary purpose is to help provide support to low-income people with disabilities, its success should be measured on how well it achieves that purpose. Unfortunately, there are reasons to seriously question the usefulness of Canada’s disability tax credit since it is helping so very few of the people it is intended to support. In fact, the credit is helping only a small number of Canadians with disability who qualify for it, and least of all those in the poorest families who receive an average of only $29 annually. The reason is not hard to see: Designing the support as a tax credit means that only those Canadians with disability who earn enough income to have them owing taxes can take advantage of it. Yet it is an unfortunate reality that people with disability are often at low incomes precisely because their disability leaves them unable to work in full-time, wellpaid jobs. Thus, the very people who need this support most are the ones least able to take advantage of it. In other words, the neediest disabled Canadians are receiving the least benefit. Far from being a successful policy, the results of the disability tax credit can only be described as disappointing. There is an uncomplicated way to begin rectifying this: By making the disability tax credit refundable. Along the same lines as a guaranteed minimum income, or negative income tax, those low-income Canadians with disabilities who qualify for the credit but lack sufficient income to benefit from the credit could simply be made eligible for a refund of the amount they cannot claim. Simply doing that, turning this non-refundable credit into a refundable credit, would increase the average benefit for Canada’s poorest families with a disabled person from $29 to $511, increasing their total income by a meaningful 4.1 per cent. Just as importantly, where a meagre 0.2 per cent of these families now get any benefit at all from the
Full Text Available In practice, a firm usually receives trade credit financing from its supplier on the purchase of inventory. Similarly, in order to meet competition and generate credit sales over and above cash sales, the firm also gives credit period to their customers. However, the decision of granting credit period may have a disintegrating effect on cash sales apart from generating new credit sales because some of the cash customers may switch to credit purchase. In addition, despite of the best credit granting policies and collection practices, the firm may incurs some amount of bad debt losses because a certain fraction of buyers will undoubtedly be unable to pay off their debt obligations and become bad debt loss to the firm. In this paper, using discounted cash flow (DCF approach, a mathematical model is developed to jointly determine optimal inventory and credit policies under two levels of trade credit financing when demand and bad-debt losses are dependent on credit period. The objective of the model is to maximize the present value of firm’s net profit per unit time by jointly optimizing the replenishment interval and date-terms credit period. Numerical examples and sensitivity analysis are presented to illustrate the effectiveness of the proposed model, and the results are discussed.
Full Text Available The given client-credit has associated several types of costs. If a company gives client-credit for a certain period of time, then it will have to finance its activity from other sources. Another aspect is the one related to the size of allotted sum. The sum that must be covered does not equal the turnover. The impact on financing the operating cycle is found usually only under the form of expenses which are made up of variable costs (because amortization must not be paid, the profit is included in the price. Thus, the sum which must be covered is not related to the non-cashed turnover from the client-credit, but only to variable costs. This will be the sum that must be covered from the financing sources. Supplier-credit is a source attracted, usually it has no cost.
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.
Cyrille Ferraton; David Vallat
Pierre-Joseph Proudhon’s ideas on credit and money have been considered to be not very relevant and above all unrealistic. However, they have known an uncommon posterity. They influenced Silvio Gesell who is John Maynard Keynes’s reference. This article analyses Pierre-Joseph Proudhon’s exchange bank plan. We show that Pierre- Joseph Proudhon’s ideas on credit and money are opened to criticism but require a reexamination because we can draw many lessons from them.
The main objective of this study is to emphasize the importance of creating special governmental refinancing institutions targeted towards strategic economic sectors. Such institution in Macedonia is Agricultural Credit Discount Fund, a separate unit within the Macedonian Bank for Development Promotion that administers a credit line meant to support the agribusiness. As it is commonly known agriculture is one of the most important economic sectors of the country. The ACDF's 'modus operandi' i...
Barasinska, Nataliya; Schäfer, Dorothea
Business owners and founders are a minority of any bank's business clients. Scientific studies of traditional credit markets often show a lower probability of loan approval or higher loan costs for female business owners compared to male business owners. With this background the question arises whether female business owners have to struggle with this problem less on Internet credit markets. In this current study, DIW Berlin investigated business loans on the largest German Internet platform,...
Mangasa Augustinus Sipahutar
Effect of credit on economic growth, unemployment and poverty provides evidence from Indonesia on the role of banks credit for promoting economic growth and reducing both unemployment and poverty. To document the link between banks credit and economic growth, we estimate a VAR model and variance decompositions of annual GDP per capita growth rates to examine what proxy measures of banks credit are most important in accounting for economic growth over time and how much they contribute to explaining economic growth. We also estimate an ECM to document the relationship between banks credit to both unemployment and poverty. This paper revealed bi-direction causality between banks credit and economic growth. Banks credit promotes economic growth and economic growth affects credit depth and financial development. Furthermore, banks credit is a growth accelerating factor on Indonesian economic growth. Banks credit is an endogenous growth and a good predictor on Indonesian economy. Our estimation model explained that credit allocated by banks increases business escalation to the real sectors then promotes economic growth, decreases unemployment rate through increasing in labor demanded, increases income and then decrease poverty. This overall transmission mechanism just occurred through presence of banks credit by increasing money supply to the real sectors, promotes growth and social welfare. Keywords : banks credit, economic growth, growth accelerating factor, poverty, unemployment JEL Classification : E51, E52, E58
Vonk Noordegraaf, D.M.; Annema, J.A.
Peak Hour Avoidance is a relatively new Dutch mobility management measure. To reduce congestion frequent car drivers are given a financial reward for reducing the proportion of trips that they make during peak hours on a specific motorway section. Although previous studies show that employers are
Noordegraaf, D.M.V.; Annema, J.A.
Peak Hour Avoidance is a relatively new Dutch mobility management measure. To reduce congestion frequent car drivers are given a financial reward for reducing the proportion of trips that they make during peak hours on a specific motorway section. Although previous studies show that employers are
In the empirical literature on labour supply, several models are developed to incorporate constraints on working hours. These models do not address the question to which extent working hours are constrained within and between jobs. In this paper I investigate the effect of individual changes in
Hourly meteorological data of both dry bulb temperature and relative humidity for 18 locations in Nigeria for the period 1995 to 2009 were analysed to obtain the mean monthly average and monthly hourly average of each of the two meteorological variables for each month for each location. The difference between the ...
... 17 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false Business hours. 201.104 Section 201.104 Commodity and Securities Exchanges SECURITIES AND EXCHANGE COMMISSION RULES OF PRACTICE Rules of Practice General Rules § 201.104 Business hours. The Headquarters office of the Commission, at...
... 20 Employees' Benefits 3 2010-04-01 2010-04-01 false Business hours. 801.304 Section 801.304 Employees' Benefits BENEFITS REVIEW BOARD, DEPARTMENT OF LABOR ESTABLISHMENT AND OPERATION OF THE BOARD Action by the Board § 801.304 Business hours. The office of the Clerk of the Board at Washington, DC...
van der Veen, Egbert; Hans, Elias W.; Veltman, Bart; Berrevoets, Leo M.; Berden, Hubert J.J.M.
We study how flexibility in workforce capacity can be used to efficiently match capacity and demand. Flexibility in workforce capacity is introduced by the annualized hours regime. Annualized hours allow organizations to measure working time per year, instead of per month or per week. An additional
Bowman, Adam C.
The purpose of this study was to explore the adaptive measures that academic libraries perform when implementing and operating a 24-hour schedule. Five in-depth interviews were conducted with current managerial-level librarians at 24-hour academic libraries. The exploratory interviews revealed similar measures for security, budgeting, employee…
Brinton, Robert D.
Although labor unions traditionally have fought for shorter working hours, there have been recent reversals in this trend. The Pulp and Paperboard Division of Temple-Eastex Incorporated converted to a 12-hour shift and found that safety improved, productivity increased, and overtime decreased. (JOW)
Dana Mitchell; Tom Gallagher
Last year at the 2007 AIM in Minneapolis, MN, the authors presented the human factors impacts to consider when implementing extended working hours in the logging industry. In a continuation of this project, we have researched existing literature to identify possible actions that logging business owners can take to reduce the impact of extended working hours on their...
Du, Jie; Wimmer, Hayden; Rada, Roy
This study investigates the delivery of the "Hour of Code" tutorials to college students. The college students who participated in this study were surveyed about their opinion of the Hour of Code. First, the students' comments were discussed. Next, a content analysis of the offered tutorials highlights their reliance on visual…
A summary of an 80-page booklet called Hours of Work When Workers Can Choose is presented. The booklet reports a survey and focuses on the benefits of flexible hours of work. It was published by the Business and Professional Women's Foundation and is available from that organization. (EC)
... PROGRAMS (CONTINUED) REGULATION OF FUELS AND FUEL ADDITIVES Motor Vehicle Diesel Fuel; Nonroad, Locomotive... the standards of § 80.510(a) or (b). V520 = The total volume of motor vehicle diesel fuel produced or... generated by both a foreign refiner and by an importer for the same motor vehicle diesel fuel. (iii) Credits...
... year to any person having individuals in his employ; and (b) To the district director a certificate of...) showing for the taxpayer— (1) The total remuneration with respect to which contributions were required to... Commissioner or the district director may deem necessary to establish the right to the additional credit...
... final step, the incremental effects of crediting the external work are added in with the values obtained... cases are provided in the following paragraphs. TPC means the total estimate of project costs for the project as it was authorized. LERRD means the costs for lands, easements, rights-of-way, relocations and...
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…
Bilimoria, Karl Y; Quinn, Christopher M; Dahlke, Allison R; Kelz, Rachel R; Shea, Judy A; Rajaram, Ravi; Love, Remi; Kreutzer, Lindsey; Biester, Thomas; Yang, Anthony D; Hoyt, David B; Lewis, Frank R
The Flexibility in Duty Hour Requirements for Surgical Trainees (FIRST) Trial randomly assigned surgical residency programs to either standard duty hour policies or flexible policies that eliminated caps on shift lengths and time off between shifts. Our objectives were to assess adherence to duty hour requirements in the Standard Policy arm and examine how often and why duty hour flexibility was used in the Flexible Policy arm. A total of 3,795 residents in the FIRST trial completed a survey in January 2016 (response rate >95%) that asked how often and why they exceeded current standard duty hour limits in both study arms. Flexible Policy interns worked more than 16 hours continuously at least once in a month more frequently than Standard Policy residents (86% vs 37.8%). Flexible Policy residents worked more than 28 hours once in a month more frequently than Standard Policy residents (PGY1: 64% vs 2.9%; PGY2 to 3: 62.4% vs 41.9%; PGY4 to 5: 52.2% vs 36.6%), but this occurred most frequently only 1 to 2 times per month. Although residents reported working more than 80 hours in a week 3 or more times in the most recent month more frequently under Flexible Policy vs Standard Policy (19.9% vs 16.2%), the difference was driven by interns (30.9% vs 19.6%), and there were no significant differences in exceeding 80 hours among PGY2 to 5 residents. The most common reasons reported for extending duty hours were facilitating care transitions (76.6%), stabilizing critically ill patients (70.7%), performing routine responsibilities (67.9%), and operating on patients known to the trainee (62.0%). There were differences in duty hours worked by residents in the Flexible vs Standard Policy arms of the FIRST trial, but it appeared that residents generally used the flexibility for patient care and educational opportunities selectively. Copyright © 2016 American College of Surgeons. Published by Elsevier Inc. All rights reserved.
... Credits, 1993 Revision, International Chamber of Commerce Publication No. 500, and to the extent not... Documentary Credits, 1993 Revision, International Chamber of Commerce Publication No. 500, and to the extent...
CREDIT RISK EVALUATION SYSTEM: AN ARTIFICIAL NEURAL NETWORK APPROACH of their own experiential .... limitations concern the high computational ... Number of existing credits at this bank. 7. Personal status and sex. 14. Job. 17.
Arbitrary Deprivation of an Unregistered Credit Provider's Right to Claim Restitution of Performance Rendered Opperman v Boonzaaier (24887/2010) 2012 ZAWCHC 27 (17 April 2012) and National Credit Regulator v Opperman 2013 2 SA 1 (CC)
... consumer credit report stating the credit accounts and payment history of the borrower and of any co-maker... months or more. (c) Evidence of delinquency, default or misrepresentation. Except with the prior approval...
ROTC Reserve Officers’ Training Corps S&T Science and Technology S&TM Science and Technology Manager SDO Special Duty Officer SME Subject Matter...engineering, industrial property management, information technology , life cycle logistics, program management, production , quality and manufacturing...16 4. Auditing ........................................................................................16 5. Test and
Pugh, Carla M; Arafat, Fahd O; Kwan, Calvin; Cohen, Elaine R; Kurashima, Yo; Vassiliou, Melina C; Fried, Gerald M
The aim of our study was to modify our previously developed laparoscopic ventral hernia (LVH) simulator to increase difficulty and then reassess validity and feasibility for using the simulator in a newly developed simulation-based continuing medical education course. Participants (N = 30) were practicing surgeons who signed up for a hands-on postgraduate laparoscopic hernia course. An LVH simulator, with prior validity evidence, was modified for the course to increase difficulty. Participants completed 1 of the 3 variations in hernia anatomy: incarcerated omentum, incarcerated bowel, and diffuse adhesions. During the procedure, course faculty and peer observers rated surgeon performance using Global Operative Assessment of Laparoscopic Skills-Incisional Hernia and Global Operative Assessment of Laparoscopic Skills rating scales with prior validity evidence. Rating scale reliability was reassessed for internal consistency. Peer and faculty raters' scores were compared. In addition, quality and completeness of the hernia repairs were rated. Internal consistency on the general skills performance (peer α = .96, faculty α = .94) and procedure-specific performance (peer α = .91, faculty α = .88) scores were high. Peers were more lenient than faculty raters on all LVH items in both the procedure-specific skills and general skills ratings. Overall, participants scored poorly on the quality and completeness of their hernia repairs (mean = 3.90/16, standard deviation = 2.72), suggesting a mismatch between course attendees and hernia difficulty and identifying a learning need. Simulation-based continuing medical education courses provide hands-on experiences that can positively affect clinical practice. Although our data appear to show a significant mismatch between clinical skill and simulator difficulty, these findings also underscore significant learning needs in the surgical community. Copyright © 2015 Elsevier Inc. All rights reserved.
Joseph, Joshua W; Henning, Daniel J; Strouse, Connie S; Chiu, David T; Nathanson, Larry A; Sanchez, Leon D
Resident productivity, defined as new patients per hour, carries important implications for emergency department operations. In high-volume academic centers, essential staffing decisions can be made on the assumption that residents see patients at a static rate. However, it is unclear whether this model mirrors reality; previous studies have not rigorously examined whether productivity changes over time. We examine residents' productivity across shifts to determine whether it remained consistent. This was a retrospective cohort study conducted in an urban academic hospital with a 3-year emergency medicine training program in which residents acquire patients ad libitum throughout their shift. Time stamps of all patient encounters were automatically logged. A linear mixed model was constructed to predict productivity per shift hour. A total of 14,364 8- and 9-hour shifts were worked by 75 residents between July 1, 2010, and June 20, 2015. This comprised 6,127 (42.7%) postgraduate year (PGY) 1 shifts, 7,236 (50.4%) PGY-2 shifts, and 998 (6.9%) PGY-3 nonsupervisory shifts (Table 1). Overall, residents treated a mean of 10.1 patients per shift (SD 3.2), with most patients at Emergency Severity Index level 3 or more acute (93.8%). In the initial hour, residents treated a mean of 2.14 patients (SD 1.2), and every subsequent hour was associated with a significant decrease, with the largest in the second, third, and final hours. Emergency medicine resident productivity during a single shift follows a reliable pattern that decreases significantly hourly, a pattern preserved across PGY years and types of shifts. This suggests that resident productivity is a dynamic process, which should be considered in staffing decisions and studied further. Copyright © 2016 American College of Emergency Physicians. Published by Elsevier Inc. All rights reserved.
Meyer, J A; Wicks, E K
Many firms that employ low-wage workers cannot afford to offer an employee health plan, and many of the uninsured work for such firms. This article makes the case for an employer tax credit, administered by the Internal Revenue Service, as a way to extend health coverage to uninsured workers and their families. The permanent, fixed-dollar, refundable credit would be available to all low-wage employers (those with average wages of $10 per hour and less), including those already offering coverage. The credit would be graduated depending on average wage: the maximum credit would equal 50% of the cost of a standard benefit package; the minimum would equal 30% of the package. It also would vary by family size and could be used to cover part-time and temporary workers. Participating employers would be required to pay at least 50% of the health insurance premium, proof of which would be shown on firms' tax returns. The paper provides justification for this approach. It closes with a discussion of strengths and weaknesses of this approach and alternative design features.
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.
Rogerio de Deus Oliveira
Full Text Available Credit Risk is an important dimension to be considered in the risk management procedures of financial institutions. Is a particularly useful in emerging markets where default rates on bank loan products are usually high. It is usually calculated through highly costly Monte Carlo simulations which consider different stochastic factors driving the uncertainly associated to the borrowers liabilities. In this paper, under some restrictions, we drive closed form formulas for the probability distributions of default rates of bank loans products involving a big number of clients. This allows us to quickly obtain the credit risk of such products. Moreover, using these probability distributions, we solve the problem of optimal portfolio allocation under default risk.
Andersen, Thomas Barnebeck; Malchow-Møller, Nikolaj
This paper studies the strategic interaction between informal and formal lenders in undeveloped credit markets. In a model with adverse selection, loan seniority, market power, and differences in the cost of lending, it is shown that under general conditions a co-funding equilibrium will be a Nas...... evidence and the emerging discussion of how to best ensure financial viability and outreach of microfinance institutions......This paper studies the strategic interaction between informal and formal lenders in undeveloped credit markets. In a model with adverse selection, loan seniority, market power, and differences in the cost of lending, it is shown that under general conditions a co-funding equilibrium will be a Nash...
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...
Daniel Paravisini; Antoinette Schoar
We design a randomized controlled trial to evaluate the adoption of credit scoring with a bank that uses soft information in small businesses lending. We find that credit scores improve the productivity of credit committees, reduce managerial involvement in the loan approval process, and increase the profitability of lending. Credit committee members' effort and output also increase when they anticipate the score becoming available, indicating that scores improve incentives to use existing in...
... substantially similar to extensions of credit to nonpolitical debtors that are of similar risk and size of... 11 Federal Elections 1 2010-01-01 2010-01-01 false Extension of credit. 100.55 Section 100.55... Contribution (2 U.S.C. 431(8)) § 100.55 Extension of credit. The extension of credit by any person is a...
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...
Disney, Richard; Gathergood, John; Weber, Jörg
Is financial literacy a substitute or complement for financial advice? In this paper we analyze the decision by consumers to seek financial advice in the form of credit counseling concerning their credit and debt. Credit counseling is an important component of the consumer credit sector for consumers facing debt problems. We combine instrumental variable approaches to account for the endogeneity of an individual’s financial situation to financial literacy, and the endogeneity of financial lit...
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)
Henrique Rocha de Medeiros
Full Text Available The PRONAF is a government program that subsidies the credit for investment to smallholder farming and improves the social development in Brazil. This research was carried out to evaluate the effect of increasing the value of credit for investment used for the PRONAF farmers in semiarid areas, and their impact on the income and labor in the smallholder farming production systems. Economic data of dairy and meat goat systems of PRONAF farmes in ";;;;;Rio Grande do Norte";;;;;, Brazil was used. The limits of the model were the credit for investment, maximum number of animals in the system and the labor time. The current value of credit for investment (US$2,850.00 was increased by 25%, 50% and 100% and its impact in the farm incomeÂ analizedÂ when considering milk and meat production. The maximum number of animals in the system was estimated by multiplying the carrying capacity (1.5 heads/ha/year plus the average pasture areas of PRONAF farms (35 ha. The maximum labor time available for work was 12 hours/day. This mathematical model was solved using linear programming with LINDO(R Software. When the credit for investment was expanded in 25% and 50%, the income of the system increased to 22% and 41%, respectively. It happened because the value of the credit allowed also enhance the number of dairy goats in the system. However, this income was not enough to use and pay more than 5 hours/day in dairy goat system activities. By raising the credit for investment up to 100% it would increase the income of the system around 81%. It happened because the number of dairy goats went up to 83% and the dairy production was had better results than meat production. The system with more dairy goats enough incme to pay the farmer labor (7 hours/day and during the other five gÂ¿hours could develop another activity. Therefore, the results of the analysis indicated that an increase in the credit for investment in small goat farms in semi-ard areas in Brazil
In this paper the impact of working hours on the gross hourly wage rate of West German women is analyzed. We use a simultaneous wage-hours model which takes into account the participation decision. First, our estimates show that the hourly wage rate is strongly a¤ected by the working hours. In order to avoid any assumptions about the functional form, we estimate linear spline functions. Second, we detect di¤erent wage-hours profiles for specific groups of individuals. Despite these di¤erences...
Khassawneh, Bashar Suhil Jad Allah
ABSTRACT: This thesis provides an explanatory introduction to the regression models of data mining and contains basic definitions of key terms in the linear, multiple and logistic regression models. Meanwhile, the aim of this study is to illustrate fitting models for the credit scoring problem using simple linear, multiple linear and logistic regression models and also to analyze the found model functions by statistical tools. Keywords: Data mining, linear regression, logistic regression....
Lancaster, D.; Fuentes, E.
This paper addresses two of the measurement specifications used in analyzing spent fuel packages to gain burnup credit. The philosophy and calculation of rejection criteria and measurement accuracy are discussed. Any assembly for which the declared measured value and reactor record value deviate by more than 10% will be rejected. Measurement accuracy requirements are established for dependent and independent systems. The requirements have been tested and are achievable, ensuring safe operation without extra cost. 6 refs
Klimova N. V.; Shapovalova G. I.
Small business is the basis for the development of the national economy, providing 60% of revenues in foreign countries. In Russia, this sector is developing slowly due to lack of funding. In connection with the development of small business, lending is growing in popularity in this sphere. The state develops a variety of programs to support small businesses in the form of public and private lending institutions, venture capital funds, credit unions. However, the volume of lending to small bu...
Mimir, Yasin; Sunel, Enes; Taskin, Temel
This paper conducts a quantitative investigation of the role of reserve requirements as a macroprudential policy tool. We build a monetary DSGE model with a banking sector in which (i) an agency problem between households and banks leads to endogenous capital constraints for banks in obtaining funds from households, (ii) banks are subject to time-varying reserve requirements that countercyclically respond to expected credit growth, (iii) households face cash-in-advance constraints, requiring ...
Hospital executives who haven't been in the market recently for a new or renewed letter of credit will find it a more expensive way to back their variable-rate debt. Annual fees are surging, for reasons ranging from an international banking agreement that goes into effect next year to more conservative fee structures being instituted because of bad loans made by some banks in the past decade.
H.H.F.M. Verstralen; N.D. Verhelst
The Partial Credit Model (PCM) is sometimes interpreted as a model for stepwise solution of polytomously scored items, where the item parameters are interpreted as di culties of the steps. It is argued that this interpretation is not justi ed. A model for stepwise solution is discussed. It is shown that the PCM is suited to model sums of binary responses which are not supposed to be stochastically independent. As a practical result, a statistical test of sto...
Tutz, Gerhard; Schauberger, Gunther; Berger, Moritz
In the modelling of ordinal responses in psychological measurement and survey- based research, response styles that represent specific answering patterns of respondents are typically ignored. One consequence is that estimates of item parameters can be poor and considerably biased. The focus here is on the modelling of a tendency to extreme or middle categories. An extension of the Partial Credit Model is proposed that explicitly accounts for this specific response style. In contrast to exi...
IOV DANIELA RODICA
Information concerning financial performance is one of the objectives of the annual financial statements of credit institutions. The main source containing this information is profit and loss statement. A correct and complete information can not be limited to this annual report. Understanding the concept of financial performance requires a holistic approach of the entity. An overview of information on financial performance will be achieved by coordinating information about the...
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
In a two period overlapping generations economy with asymmetric information, we investigate the interaction between credit market development and human capital accumulation. As is typical, young borrowers supply their endowed unit of labor time to earn wage income which is used as internal funds. In contrast to conventional setups, young lenders distribute theirs between acquiring education and working for earnings. Through identifying the risk types of borrowers by a costly screening tech...
Carlos Manuel Díaz
Full Text Available The objective of this research was to analyze the financial risk in the consumption credits of the banking system of Venezuela between 2008-2015. The theoretical support was made based on Cóndor & Cajamarca (2014, monitoring credit risk is essential to preserve the stability of the financial system. The type of research was descriptive with a longitudinal trend design. Consumer loans accounted for 21% of the banking economy; these loans grew at an annual average of 17%, the delinquency and total portfolio coverage indicators showed a downward trend. This shows that the profile of potential borrowers by banks has been successful.
Full Text Available This paper follows to highlight the link between the results obtained applying discriminant analysis and lending decision. For this purpose, we have carried out the research on a sample of 24 Romanian private companies, pertaining to 12 different economic sectors, from I and II categories of Bucharest Stock Exchange, for the period 2010-2012. Our study works with two popular bankruptcy risk’s prediction models, the Altman model and the Anghel model. We have double-checked and confirmed the results of our research by comparing the results from applying the two fore-mentioned models as well as by checking existing debt commitments of each analyzed company to credit institutions during the 2010-2012 period. The aim of this paper was the classification of studied companies into potential bankrupt and non-bankrupt, to assist credit institutions in their decision to grant credit, understanding the approval or rejection algorithm of loan applications and even help potential investors in these ompanies.
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
Lee, Seong Hee; Ahn, Joon Gi; Hwang, Hae Ryong
Conceptual design has been performed for a spent fuel transport cask with burnup credit and a neutron-absorbing material to maximize transportation capacity. Both fresh and burned fuel are assumed to be stored in the cask and boral and borated stainless steel are selected for the neutron-absorbing materials. Three different sizes of cask with typical 14, 21 and 52 PWR fuel assemblies are modeled and analyzed with the SCALE 4.4 code system. In this analysis, the biases and uncertainties through validation calculations for both isotopic predictions and criticality calculation for the spent fuel have been taken into account. All of the reactor operating parameters, such as moderator density, soluble boron concentration, fuel temperature, specific power, and operating history, have been selected in a conservative way for the criticality analysis. Two different burnup credit loading curves are developed for boral and borated stainless steel absorbing materials. It is concluded that the spent fuel transport cask design with burnup credit is feasible and is expected to increase cask payloads. (author)
Beck, T.H.L.; Hoseini, Mohammad; Uras, Burak
Using data on 5,500 Ethiopian retailers, we document that there is lower use of trade credit in areas with more access to bank finance. Among firms within an area, however, receiving a bank loan increases the use of trade credit by informal firms, but has no association with trade credit of formal
... 25 Indians 1 2010-04-01 2010-04-01 false Unauthorized use of credit cards. 11.422 Section 11.422... LAW AND ORDER CODE Criminal Offenses § 11.422 Unauthorized use of credit cards. (a) A person commits a misdemeanor if he or she uses a credit card for the purpose of obtaining property or services with knowledge...
... Certain Credit Card Complaint Data AGENCY: Bureau of Consumer Financial Protection. ACTION: Notice of... Bureau plans to exercise its discretion to publicly disclose certain credit card complaint data that do not include personally identifiable information. The Bureau receives credit card complaints from...
... Regarding Credit Card Market AGENCY: Bureau of Consumer Financial Protection. ACTION: Notice and request for information. SUMMARY: Section 502(a) of the Credit Card Accountability Responsibility and Disclosure Act of... review (Review) of the consumer credit card market, within the limits of its existing resources available...
Joo, S.-H.; Grable, J. E.; Bagwell, D. C.
At a southwestern public university, 242 students responded to a questionnaire about their credit-card use and attitudes. The results revealed that about 70 percent of the students held one or more credit cards, and about 10 percent had five or more credit cards. Twenty-two percent never kept copies of their charge slips, and only 49 percent paid…
... Computing Credit for Investment in Certain Depreciable Property § 1.50-1 Restoration of credit. (a) In general. Section 49(a) (relating to termination of credit) does not apply to property— (1) The... new section 38 property in determining qualified investment only that portion of the basis which is...
Norden, L.; Silva Buston, C.F.; Wagner, W.B.
This paper investigates whether, and through which channel, the active use of credit derivatives changes bank behavior in the credit market, and how this channel was affected by the crisis of 2007–2009. Our principal finding is that banks with larger gross positions in credit derivatives charge
... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Credit risk capital requirement. 932.4 Section... CAPITAL STANDARDS FEDERAL HOME LOAN BANK CAPITAL REQUIREMENTS § 932.4 Credit risk capital requirement. (a) General requirement. Each Bank's credit risk capital requirement shall be equal to the sum of the Bank's...
... 49 Transportation 4 2010-10-01 2010-10-01 false Credit risk premium. 260.15 Section 260.15... REHABILITATION AND IMPROVEMENT FINANCING PROGRAM Overview § 260.15 Credit risk premium. (a) Where available... pay to the Administrator a Credit Risk Premium adequate to cover that portion of the subsidy cost not...
..., Order No. 741, to amend its regulations to improve the management of risk and use of credit in the... discriminatory or preferential. The management of risk and credit requires a balance between protecting the... are less of a credit risk because their bond resolutions give explicit payment [[Page 10494
... party in the performance of an obligation. (b) As a matter of sound banking practice, banks for... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Standby letters of credit. 614.4810 Section 614.4810 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM LOAN POLICIES AND OPERATIONS Banks...
American Financial Services Association, Washington, DC. Consumer Credit Education Foundation.
Designed for first-time borrowers, this pamphlet describes the basics of credit as a part of personal financial planning. Following a self-quiz (with answers) that tests the reader's knowledge of credit, the pamphlet provides guidelines for responsible credit use and outlines steps to take if debt problems occur. Topics covered include the…