A joint International Monetary Fund-World Bank team conducted an assessment update of Uganda's financial system in connection with the Financial Sector Assessment Program (FSAP) in November, 2004. The purpose of the mission was to help the Ugandan authorities identify financial system strengths and weaknesses with a view to implementing an action plan to increase the system's contribution ...
International Monetary Fund
This paper presents an update to the Financial System Stability Assessment on Morocco. Major reforms have been achieved since the 2002 Financial Sector Assessment Program (FSAP) within a policy of actively promoting economic and financial sector opening. The 2002 FSAP recommendations have been largely implemented. Although the financial system is stable and considerably more robust than in the past, the liberalization of capital flows and increased exchange rate flexibility present challenges...
A joint World Bank and International Monetary Fund team visited Morocco in November 2007 at the request of the authorities to update the analysis and recommendations made in the framework of the Financial Sector Assessment Program (FSAP) in 2002 and to assist the authorities in preparing their medium-term strategy for modernizing financial intermediation in Morocco. This Financial Sector A...
... Acquisition Regulation; Updated Financial Accounting Standards Board Accounting References AGENCIES... Acquisition Regulation (FAR) to update references to authoritative accounting standards owing to the Financial... Accounting Principles (GAAP) (``Codification of GAAP''). DATES: Interested parties should submit written...
Korb, Brian R.
Widows constitute a growing segment of the U.S. population; however, very little has been done to educate them on the basics of personal financial planning. The creation and implementation of financial planning education programs for widows can help them become more financially literate and free them from anxiety and fear. Interviews with eight…
Full Text Available This study aims to measure the level of Islamic Financial Literacy (IFL in Solo society and to test the effect of IFL on personal financial planning. The sociodemographic variables such as age, gender, marital status, education level, and income are being used as the control variable. 313 respondents are involved in this research directly through survey method and Ordinary Least Square (OLS is used to analyze the obtained research data. The study uses purposive sampling method and limiting the education level and income of research respondents. Study questionnaire consists of 20 multiple choice questions to measure respondent IFL and 13 questions to measure respondent personal financial planning. The results showed that: (1 the level of IFL in Solo reach 64.66 percent; (2 people with a good level of IFL tends to have better management in their personal finances, and (3 people with a good level of IFL tend to prefer investing in Islamic asset. Last, this paper will contribute to the scientific development of behavioral finance and financial inclusion which had been highly discussed in the financial literature. This study also became an early research in examining the influence of IFL on personal financial planning.
Full Text Available This study aims to measure the level of Islamic Financial Literacy (IFL in Solo society and to test the effect of IFL on personal financial planning. The socio-demographic variables such as age, gender, marital status, education level, and income are being used as the control variable. 313 respondents are involved in this research directly through survey method and Ordinary Least Square (OLS is used to analyze the obtained research data. The study uses purposive sampling method and limiting the education level and income of research respondents. Study questionnaire consists of 20 multiple choice questions to measure respondent IFL and 13 questions to measure respondent personal financial planning. The results showed that: (1 the level of IFL in Solo reach 64.66 percent; (2 people with a good level of IFL tends to have better management in their personal finances; and (3 people with a good level of IFL tends to prefer investing on Islamic asset. Last, this paper will contribute to the scientific development of behavioral finance and financial inclusion which had been highly discussed in the financial literature. This study also became an early research in examining the influence of IFL on personal financial planning.
... FEDERAL DEPOSIT INSURANCE CORPORATION Update to Notice of Financial Institutions for Which the...: Federal Deposit Insurance Corporation. ACTION: Update listing of financial institutions in liquidation... 12 U.S.C. 1825(b)(2) and 28 U.S.C. 2410(c). The policy statement and an initial listing of financial...
DUMITRU FRANCA; MORARU MARIA
Annual financial statements and annual financial statements that are simplified represent a whole. According to the law of accounting, annual financial statements must be accompanied by a written declaration of assumption of responsibility by the leadership of the legal person for annual financial statements in accordance with Accounting rules for legal persons without patrimonial purpose. Annual financial statements are prepared in a clear manner and should be consistent with the provisions ...
Hoe, Siew Yee
The financial planning industry in Malaysia is still very much at its inception stage. Currently, regulators- Bank Negara Malaysia and Securities Commission of Malaysia have started to regulate the industry by imposing requirements for whoever wanted to venture into the financial planning profession. The title of ‘Financial Planner’ is now highly legalized by the authorities. Empirical studies have been done by overseas scholars and found that the lack of personal financial literacy has been ...
... 9000-AM00 Federal Acquisition Regulation; Updated Financial Accounting Standards Board Accounting... accounting standards owing to the Financial Accounting Standards Board's Accounting Standards Codification of Generally Accepted Accounting Principles. DATES: Effective Date: February 2, 2012. FOR FURTHER INFORMATION...
Martin, Charles L., Jr.
Personal financial planning is considered one of the major growth professions of the coming decade. Besides providing an opportunity for employment, a major in personal financial planning can open the door to a rewarding and challenging career. Career opportunities in the personal financial planning field include opening a private practice or…
Full Text Available This study on healthy young male students aimed to enlighten the associations between an individual’s financial decision making and surrogate makers for environmental factors covering long-term financial socialization, the current financial security/responsibility, and the personal affinity to financial affairs as represented by parental income, funding situation and field of study. A group of 150 male young healthy students underwent two versions of the Holt and Laury (2002 lottery paradigm (matrix and random sequential version. Their financial decision was mainly driven by the factor ‘source of funding’: students with strict performance control (grants, scholarships had much higher rates of risk aversion (RRA than subjects with support from family (RRAdiff=0.22; p=0.018. Personality scores only modestly affected the outcome. In an ANOVA, however, also the IQ significantly and relevantly contributed to the explanation of variance; the effects of parental income and the personality factors ‘agreeableness’ and ‘openness’ showed moderate to modest – but significant - effects. These findings suggest that environmental factors more than personality factors affect risk aversion.
Prinz, Susanne; Gründer, Gerhard; Hilgers, Ralf D; Holtemöller, Oliver; Vernaleken, Ingo
This study on healthy young male students aimed to enlighten the associations between an individual's financial decision making and surrogate makers for environmental factors covering long-term financial socialization, the current financial security/responsibility, and the personal affinity to financial affairs as represented by parental income, funding situation, and field of study. A group of 150 male young healthy students underwent two versions of the Holt and Laury (2002) lottery paradigm (matrix and random sequential version). Their financial decision was mainly driven by the factor "source of funding": students with strict performance control (grants, scholarships) had much higher rates of relative risk aversion (RRA) than subjects with support from family (ΔRRA = 0.22; p = 0.018). Personality scores only modestly affected the outcome. In an ANOVA, however, also the intelligence quotient significantly and relevantly contributed to the explanation of variance; the effects of parental income and the personality factors "agreeableness" and "openness" showed moderate to modest - but significant - effects. These findings suggest that environmental factors more than personality factors affect risk aversion.
Full Text Available This article focuses on the development of a framework for investigating the personal financial management knowledge of individuals. Content analysis is used to derive the components included in the personal financial management requirements framework. The framework developed includes six components, namely basic concepts in personal finances, management of personal finances, risk management, future planning, investing in financial resources and miscellaneous factors. A qualitative validation process revealed that the framework indeed covers what the average South African citizen is required to know about personal financial planning. The real test of this framework will be to use it in developing an instrument to test individuals’ knowledge of personal financial management. This process of empirically testing the framework, using such an instrument, warrants a separate article.
Neidermeyer, Adolph A.; Neidermeyer, Presha E.
With increasing personal and business financial challenges facing today's professionals, we, as business school faculty, have a responsibility to offer the educational background that should enable rising professionals to successfully manage finances. Unfortunately, the results of a recent analysis of curriculum offerings in Personal Financial…
The purpose of this research was to examine the effects of workplace financial education on workers' personal finances and work outcomes and determine relationships among financial management (attitudes, knowledge and behaviors), financial well-being, personal finance-work conflict, and work outcomes with data of white-collar workers in an insurance company in mid-western states. Research questions were (1) What are the profiles of financial attitudes, financial knowledge, financial behav...
... 17 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false Financial statements of... COMMISSION FORM AND CONTENT OF AND REQUIREMENTS FOR FINANCIAL STATEMENTS, SECURITIES ACT OF 1933, SECURITIES... Financial Statements § 210.3-17 Financial statements of natural persons. (a) In lieu of the financial...
Full Text Available Financial literacy played an important role for everyone in managing personal finances.This research aimed to determine how the level of financial literacy in students S1 Faculty of Economics and Business, Universitas Pasundan and investigate what factors are influencing it. The observed respondents were students from the Faculty of Economics and Business, Universitas Pasundan. The research data was collected through questionnaires,descriptive analysis, and test multinominal logit. Based on the results of the research showed that the level of financial literacy from undergraduate students Universitas Pasundan was in the low category. Financial literacy was determined by gender, Greater Academic Achievement (GPA, parental education level, and parental income level;,whereas for age, year of study and residence do not contribute to the research model. The results of this study were expected to support personal financial planning of students in improving the skills of reading, analyzing, and managing their own finances, thus avoiding the daily financial problems.
Thi Anh Nhu Nguyen
Full Text Available The paper examines the factors, which affect decision-making on regular personal saving behaviour in the context of an emerging market in Vietnam. Focusing on financial literacy, the paper uses a combined measure of actual financial knowledge and a self-assessment of overall financial knowledge. The sample of the study consists of 240 commercial banks customers selected in 12 branches of four banks in Ho Chi Minh City. The questionnaire covers: (1 actual financial knowledge; (2 self-rating of financial knowledge; (3 financial risk tolerance; and (4 demographic characteristics of the respondents. The results of a logistic regression analysis show that perceived and actual financial literacy have separate effects on regular personal saving. Particularly, actual financial knowledge has a statistically significant positive relationship with regular personal saving with odds ratio higher than 6.5 times. However, perceived financial knowledge and financial risk tolerance factor are not statistically significant with regular personal saving. Finally, this paper offers evidence that the interaction variable, which is used to combine education level with their major study, has a statistically significant relationship with regular personal saving.
... and Criteria for Approval of Providers of a Personal Financial Management Instructional Course by... personal financial management instructional course (``providers'') satisfy all prerequisites of the United... in an instructional course concerning personal financial management (``instructional course'' or...
This article aims at finding the relationship between households' personality traits and their financial literacy level. The data in this research are from the household survey which can represent the population in Dutch. Using the Big Five personality traits and economic locus of control--extraversion, agreeableness, conscientiousness, emotional…
... of a personal financial management instructional course. 58.25 Section 58.25 Judicial Administration... Qualifications for approval as providers of a personal financial management instructional course. (a) Definition... personal financial management instructional course must be in compliance with all applicable laws and...
International Monetary Fund
This abstract reviews the recommendations made in the FSAP Update for Sweden in the areas of contingency planning, crisis management, and bank resolution. Although Sweden crisis management fared well during the global financial crisis, its authorities are reviewing the framework for managing financial crises to incorporate crisis lessons. They recommend a domestic institutional framework, an effective cross-border cooperation, an emergency liquidity assistance (ELA), a deposit guarantee schem...
... SECURITIES AND EXCHANGE COMMISSION FORM AND CONTENT OF AND REQUIREMENTS FOR FINANCIAL STATEMENTS, SECURITIES... Qualifications and Reports of Accountants § 210.2-04 Examination of financial statements of persons other than the registrant. If a registrant is required to file financial statements of any other person, such...
Ioana LUPASC; Adrian LUPASC
The crisis is unfortunately a negative feature specific to recent years which has affected most areas of activity in many countries, including the powerful economical ones. As a direct consequence, the crisis has had a significant and direct impact on people's personal finances. In this paper we propose different solutions which lead to a better administration of personal finances, so that the involved actors to be able to manage difficult situations made by the economic and financial crisis....
Tee, Ya-Mei; LEE, Lai-Soon; LEE, Chew-Ging; SEOW, Hsin-Vonn
The Top Application characteristics Remainder Offer characteristics Tree (TAROT) was first introduced in 2007. This is a modified Classification and Regression Trees (CART) used to help decide which question(s) to ask potential applicants to customise an offer of a personal financial product so that it would have a high probability of take up. In this piece of work the authors are presenting, they have further modified the TAROT to cross TAROT, using its properties and modeling steps to deal with the issue of cross-selling. Since the bank already has ready customers, it would be ideal to cross-sell the financial products seeing that one can ask one (or more) further question(s) based on the initial offer to identify and customise another financial product to offer.
... DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR-5607-N-14] Notice of Proposed Information Collection: Comment Request; Personal Financial and Credit Statement AGENCY: Office of the... Proposal: Personal Financial and Credit Statement. OMB Control Number, if applicable: 2502-0001...
St. Pierre, Eileen; Richert, Charlotte; Routh, Susan; Lockwood, Rachel; Simpson, Mickey
States are recognizing the need for personal financial education and have begun requiring it as a condition for high school graduation. Responding to teacher requests to help them meet state-mandated financial education requirements, FCS educators in the Oklahoma Cooperative Extension Service developed a financial education tool kit. This article…
International Monetary Fund
Guernsey is a leading international insurance center in Europe. Its economy purely depends on the performance of the financial sector. As per the 2003 assessment under the Offshore Financial Center (OFC) program, it is found that the Guernsey Financial Services Commission (GFSC)’s powers have been strengthened in recent years and many recommendations of the 2003 Financial Sector Assessment Program (FSAP) have been implemented. The GFSC has developed a strategy for addressing banks' financial ...
Bradbury, J.A.; Leyson, J.; Lester, M.K.
This report revises and updates the 1995 report Financial Assistance to States and Tribes to Support Emergency Preparedness and Response and the Safe Transportation of Hazardous Shipments, PNL-10260 (UC-620). The presentation of data and some of the data reported have been changed; these data supersede those presented in the earlier publication. All data have been updated to fiscal year 1995, with the exception of FEMA data that are updated to fiscal year 1994 only. The report identifies and summarizes existing sources of financial assistance to States and Tribes in preparing and responding to transportation emergencies and ensuring the safe transportation of hazardous shipments through their jurisdictions. It is intended for use as an information resource for the U.S. Department of Energy`s Office of Environmental Management (EM), Office of Transportation, Emergency Management, and Analytical Services (EM-76).
Bradbury, J.A.; Leyson, J.; Lester, M.K.
This report revises and updates the 1995 report Financial Assistance to States and Tribes to Support Emergency Preparedness and Response and the Safe Transportation of Hazardous Shipments, PNL-10260 (UC-620). The presentation of data and some of the data reported have been changed; these data supersede those presented in the earlier publication. All data have been updated to fiscal year 1995, with the exception of FEMA data that are updated to fiscal year 1994 only. The report identifies and summarizes existing sources of financial assistance to States and Tribes in preparing and responding to transportation emergencies and ensuring the safe transportation of hazardous shipments through their jurisdictions. It is intended for use as an information resource for the U.S. Department of Energy's Office of Environmental Management (EM), Office of Transportation, Emergency Management, and Analytical Services (EM-76)
International Monetary Fund
This technical note presents a factual update of the 2001 assessment of Switzerland’s compliance with the 1997 Basel Core Principles for Effective Banking Supervision (BCP), including a follow-up on implementation of the 2001 BCP assessment, undertaken in the context of the original Financial Sector Assessment Program in 2001. The note discusses that the Swiss Federal Banking Commission (SFBC) has made impressive progress both organizationally and to its supervisory practices to strengthen Sw...
Cameron, Michael P.; Calderwood, Richard; Cox, Ashleigh; Lim, Steven; Yamaoka, Michio
Personal financial literacy is becoming increasingly important in the modern world, especially for young people. In this article, the authors compare the financial literacy of high school students in Hamilton, New Zealand, with samples from Japan and the USA. The authors compare not only overall financial literacy, but also literacy across five…
Boyle, Patricia A; Yu, Lei; Wilson, Robert S; Segawa, Eisuke; Buchman, Aron S; Bennett, David A
Literacy is an important determinant of health and well-being across the life span but is critical in aging, when many influential health and financial decisions are made. Prior studies suggest that older persons exhibit lower literacy than younger persons, particularly in the domains of financial and health literacy, but the reasons why remain unknown. The objectives of this study were to: (a) examine pathways linking diverse resources (i.e., education, word knowledge, cognitive function, and decision making style) to health and financial literacy among older persons and determine the extent to which the relation of age with literacy represents a direct effect versus an indirect effect due to decrements in specific cognitive functions (i.e., executive functions and episodic memory); and (b) test the hypothesis that declines in executive function and episodic memory are associated with lower literacy among older persons without dementia. Six-hundred and forty-five community-based older persons without dementia underwent detailed assessments of diverse resources, including education, word knowledge, cognitive function (i.e., executive function, episodic memory) and decision making style (i.e., risk aversion), and completed a measure of literacy that included items similar to those used in the Health and Retirement Study, such as numeracy, financial concepts such as compound inflation and knowledge of stocks and bonds, and important health concepts such as understanding of drug risk and Medicare Part D. Path analysis revealed a strong effect of age on literacy, with about half of the effect of age on literacy due to decrements in executive functions and episodic memory. In addition, executive function had an indirect effect on literacy via decision making style (i.e., risk aversion), and education and word knowledge had independent effects on literacy. Finally, among (n = 447) persons with repeated cognitive assessments available for up to 14 years, regression
Kornienko, Olga; Agadjanian, Victor; Menjívar, Cecilia; Zotova, Natalia
This study advances research on the role of personal networks as sources of financial and emotional support in immigrants' close personal ties beyond the immediate family. Because resource scarcity experienced by members of immigrant communities is likely to disrupt normatively expected reciprocal support, we explored multi-level predictors of exchange processes with personal network members that involve (1) only receiving support, (2) only providing support, and (3) reciprocal support exchanges. We focus on an understudied case of Central Asian migrant women in the Russian Federation using a sample of 607 women from three ethnic groups-Kyrgyz, Tajik, Uzbek-who were surveyed in two large Russian cities-Nizhny Novgorod and Kazan. The survey collected information on respondents' demographic, socioeconomic, and migration-related characteristics, as well as characteristics of up to five individuals with whom they had a close relationship. Multi-level multinomial regression analyses were used to account for the nested nature of the data. Our results revealed that closer social relationships (siblings and friends) and greater levels of resources (income and regularized legal status) at both ego and alter levels were positively related to providing, receiving, and reciprocally exchanging financial and emotional support. Egos were more likely to provide financial assistance to transnational alters, whereas they were more likely to engage in mutual exchanges of emotional support with their network members from other countries. Personal network size and density showed no relationship with support exchanges. These findings provide a nuanced picture of close personal ties as conduits for financial and emotional support in migrant communities in a major, yet understudied, migrant-receiving context.
McKillip, Ryan; Ernst, Michael; Ahn, James; Tekian, Ara; Shappell, Eric
Introduction Resident financial health has been linked to wellness and resiliency, yet financial literacy among residents is highly variable. While some medical school curricula include budgeting and student loan education, content on managing finances as a resident is usually lacking. We sought to quantitatively assess residents' financial circumstances, needs, and interests to inform the design of a resident personal finance curriculum. Methods Surveys were sent to residents in eight specialties at an academic medical center. Likert-type responses allowed respondents to rate their level of comfort (1 = Very Uncomfortable, 7 = Very Comfortable) and interest (1 = Very Uninterested, 7 = Very Interested) in various personal finance topics including budgeting, loan repayment, disability insurance, life insurance, home buying, and retirement planning. Details regarding financial circumstances, including assets, liabilities, and insurance, were also collected. Results of questions that utilized a Likert-type scale are reported as median (interquartile range). Results Of 346 residents surveyed, 144 (41.6%) responded. Residents were from Internal Medicine (56, 38.9%), Pediatrics (34, 23.6%), Emergency Medicine (18, 12.5%), and other specialties (36, 25.0%). Ninety-one (63.2%) reported educational loans, with an average balance of $191,730. Credit card balances exceeding $3,000 were reported by 11 (7.6%) respondents. One-hundred-two (70.1%) reported emergency savings, but only 65 (45.1%) reported having a retirement account (average balance $27,608). Respondents rated highest comfort levels with budgeting (5[4-6]), and lowest level of comfort with disability insurance (2[2-4]) and home buying (2[2-5]). Interest in learning each topic was high (6[5-7]), with retirement planning (6[5-7]), investing (6[5-7]), and home buying (6[5-7]) the topics of highest interest. Conclusion These results highlight the deficits in personal finance literacy among residents. Future work should
Full Text Available Increasing levels of financial inequality prompt questions about the relationship between income and well-being. Using a twins sample from the Survey of Midlife Development in the United States and controlling for personality as core self-evaluations, we found that men, but not women, had higher subjective financial well-being when they had higher incomes. This relationship was due to ‘unshared environmental’ factors rather than genes, suggesting that the effect of income on subjective financial well-being is driven by unique experiences among men. Further, for women and men, we found that core self-evaluations influenced income and subjective financial well-being, and that both genetic and environmental factors explained this relationship. Given the relatively small and male-specific relationship between income and subjective financial well-being, and the determination of both income and subjective financial well-being by personality, we propose that policy makers focus on malleable factors beyond merely income in order to increase subjective financial well-being, including financial education and building self-regulatory capacity.
Full Text Available This article presents the results of a research aimed to identify whether students of specialization of a higher education institution of Rio Grande do Sul held a personal financial planning for retirement. Yet, through this study it was sought to determine how these students do their financial planning for retirement, and those who do not realize it why they do not. To develop this study, the method used had quantitative and descriptive approach, the results were obtained through a research conducted in the first half of 2015 with 166 students in 11 courses of specialization of a higher education institution. As a result, it was found that less than half of respondents hold a financial planning for retirement, the majority uses the private pension as a major investment for such planning and that those who do not realize allege the lack of resources to save and invest or, yet, they consider themselves too young to start this planning, but it was found that the vast majority of participants do not realize that financial planning for retirement plan to do it. Still, it was contacted that the level of knowledge of personal finance and items related to social security is greatest among participants who hold a personal financial planning for retirement.
Prawitz, Aimee D.; Cohart, Judith
Based on the life-cycle theory of consumption, this quasi-experimental study of 995 employees examined changes in financial behaviors following employee-needs-driven workplace financial education. Repeated-measures ANOVA compared participants and non-participants on perceived financial wellness and savings ratios; main effects indicated that both…
Cheema, Marvi K; MacQueen, Glenda M; Hassel, Stefanie
Impulsivity and risk-taking behaviours are reported in bipolar disorder (BD). We examined whether financial management skills are related to impulsivity in patients with BD. We assessed financial management skills using the Executive Personal Finance Scale (EPFS), impulsivity using the Barratt Impulsiveness Scale (BIS) and response inhibition using an emotional go/no-go task in bipolar individuals (N = 21) and healthy controls (HC; N = 23). Patients had fewer financial management skills and higher levels of impulsivity than HC. In patients and controls, increased impulsivity was associated with poorer personal financial management. Patients and HC performed equally on the emotional go/no-go task. Higher BIS scores were associated with faster reaction times in HC. In patients, however, higher BIS scores were associated with slower reaction times, possibly indicating compensatory cognitive strategies to counter increased impulsivity. Patients with BD may have reduced abilities to manage personal finances, when compared against healthy participants. Difficulty with personal finance management may arise in part as a result of increased levels of impulsivity. Patients may learn to compensate for increased impulsivity by modulating response times in our experimental situations although whether such compensatory strategies generalize to real-world situations is unknown.
Hastings, Justine S.; Madrian, Brigitte C.; Skimmyhorn, William L.
In this article, we review the literature on financial literacy, financial education, and consumer financial outcomes. We consider how financial literacy is measured in the current literature and examine how well the existing literature addresses whether financial education improves financial literacy or personal financial outcomes. We discuss the…
Ehn, Mattias; Wahlqvist, Moa; Danermark, Berth; Dahlström, Örjan; Möller, Claes
Research has demonstrated that persons with Usher syndrome type 1 (USH1) have significantly poorer physical and psychological health compared to a reference group. To explore the relation between work, health, social trust, and financial situation in USH1 compared to a reference group. Sixty-six persons (18-65 y) from the Swedish Usher database received a questionnaire and 47 were included, 23 working and 24 non-working. The reference group comprised 3,049 working and 198 non-working persons. The Swedish Health on Equal Terms questionnaire was used and statistical analysis with multiple logistic regression was conducted. The USH1 non-work group had a higher Odds ratio (95% CI) in poor psychological and physical health, social trust, and financial situation compared to the USH1 work group and reference groups. Age, gender, hearing, and vision impairment did not explain the differences. The relation between the USH1 work and non-work groups showed the same pattern as the reference groups, but the magnitude of problems was significantly higher. Both disability and unemployment increased the risk of poor health, social trust and financial situation in persons with USH1, but having an employment seemed to counteract the risks related to disability.
Areva supplies high added-value products and services to support the operation of the global nuclear fleet. The company is present throughout the entire nuclear cycle, from uranium mining to used fuel recycling, including nuclear reactor design and operating services. Areva is recognized by utilities around the world for its expertise, its skills in cutting-edge technologies and its dedication to the highest level of safety. Areva's 40,000 employees are helping build tomorrow's energy model: supplying ever safer, cleaner and more economical energy to the greatest number of people. This Reference Document contains information on Areva's objectives, prospects and development strategies. It contains estimates of the markets, market shares and competitive position of Areva. Contents: 1 - Persons responsible; 2 - Information on operations and recent events (Overview of the Group's operations, Simplified organization chart of the Group, Implementation of the Group's strategic roadmap and Restructuring Plan, Deployment of the performance plan, Other significant transactions since the filing of the Reference Document, Review of third quarter 2016 operations, Press releases); 3 - Financial information (2016 Half-year financial report, Statutory auditors' report on the half-year financial information for the period January 1 to June 30, 2016, Unaudited consolidated pro-forma financial information, Statutory auditors' report on the pro-forma financial information); 4 - Risk factors (Risks related to the Restructuring Plan, Legal risks, Industrial and environmental risks, Operational risks, Liquidity and market risks); 5 - Cash and capital resources (Financial outlook, 12-month liquidity); 6 - Governance; 7 - Workforce - jobs (Voluntary departure plan and change in the Group's workforce, Signature of a memorandum of understanding ensuring the stability of labor agreements, Reorganization and refinancing of the Group); 8 - Share
... financial statements of subsidiaries not consolidated and 50 percent or less owned persons. (a) If any of... consolidated financial statements required by §§ 210.3-01 and 3-02. However, these separate financial... 17 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false Separate financial statements...
World Bank; International Monetary Fund
A joint International Monetary Fund (IMF)-World Bank mission visited Rabat and Casablanca in 2015, to assess the soundness and resilience of the banking system, the state of play in financial inclusion and infrastructure, the oversight frameworks for banking, capital markets and financial market infrastructures, crisis preparedness, and update the findings of the Financial Sector Assessme...
Lichtenberg, Peter A; Stoltman, Jonathan; Ficker, Lisa J; Iris, Madelyn; Mast, Benjamin
Financial exploitation and financial capacity issues often overlap when a gerontologist assesses whether an older adult's financial decision is an autonomous, capable choice. Our goal is to describe a new conceptual model for assessing financial decisions using principles of person-centered approaches and to introduce a new instrument, the Lichtenberg Financial Decision Rating Scale (LFDRS). We created a conceptual model, convened meetings of experts from various disciplines to critique the model and provide input on content and structure, and select final items. We then videotaped administration of the LFDRS to five older adults and had 10 experts provide independent ratings. The LFDRS demonstrated good to excellent inter-rater agreement. The LFDRS is a new tool that allows gerontologists to systematically gather information about a specific financial decision and the decisional abilities in question.
Substance Abuse and Mental Health Services Administration, 2005
Research has shown that persons who engage in binge alcohol use as teenagers are at increased risk for binge drinking as young adults. Binge Alcohol Use among Persons Aged 12 to 20: 2002 and 2003 Update asks respondents aged 12 or older to report their frequency and quantity of alcohol use during the month before the survey. NSDUH defines binge…
van Hoorn, Andre
We assess the organizational culture in the finance industry in relation to the global financial crisis (GFC) and consider the potential of cultural change to improve the financial sector. To avoid (response) biases, we build on the person-organization (P-O) fit literature and develop a novel, indirect method for assessing organizational culture that revolves around relationships between employees’ personal traits and their career success in the industry or organization under study. We analyz...
Full Text Available The article systematizes approaches to financial support and social adaptation of internally displaced persons (IDPs as well as their social protection, that is based on the analysis of legal framework, situation and sources of financial and social support to the EU member states of the IDPs in Ukraine and their social security. The study of the IDPs situation and the assessment of the required resources are based on a cluster approach, which defines optimal set of problem areas requiring priority social and financial support. This allowed to develop practical recommendations for the development of a comprehensive, transparent and unified policy of social protection through the development of a conceptual framework for the financial and economic provision of social protection IDPs, which will be the basic solution to the problems of social and financial provision forced migrants in Ukraine. Key words: forced migrants, internally displaced persons, cluster, social policy, social protection, social providing, financial providing.
... BE-185: Quarterly Survey of Financial Services Transactions Between U.S. Financial Services Providers... Services Transactions between U.S. Financial Services Providers and Foreign Persons (BE-185). This.... person who: (a) Had sales of covered financial services to foreign persons that exceeded $20 million for...
Amelia Sari, Kiki; Suprihartini, M.Si, Dra. Taufik
The presence of information technology is rapid and practical nature can allow for changes in behavior or lifestyle. One of them is the development of information technology with the birth of social networks, namely Facebook. Karaoke guide also actively uses Facebook to update your status and communicate with customers. By using qualitative methods, this study aims to describe the "Experience of Guides Karaoke Workers when Updating status on Facebook as Interpersonal and Personality Communica...
Brounen, Dirk; Koedijk, Kees; Pownall, Rachel
Greater personal responsibility toward financial decision-making is being advocated on a global basis. Individuals and households are encouraged to take a more active approach to personal finance. In this paper, we examine behavioral factors, which lead households toward savings and financial
Hastings, Justine S.; Madrian, Brigitte C.; Skimmyhorn, William L.
In this article we review the literature on financial literacy, financial education, and consumer financial outcomes. We consider how financial literacy is measured in the current literature, and examine how well the existing literature addresses whether financial education improves financial literacy or personal financial outcomes. We discuss the…
van Hoorn, André
We assess the organizational culture in the finance industry in relation to the global financial crisis (GFC) and consider the potential of cultural change to improve the financial sector. To avoid (response) biases, we build on the person-organization (P-O) fit literature and develop a novel,
Christman, Stephen D; Henning, Bradley R; Geers, Andrew L; Propper, Ruth E; Niebauer, Christopher L
Research has shown that persons with mixed hand preference (i.e., who report using their non-dominant hand for at least some manual activities) display an increased tendency to update beliefs in response to information inconsistent with those beliefs. This has been interpreted as reflecting the fact that the left hemisphere maintains our current beliefs while the right hemisphere evaluates and updates those beliefs when appropriate. Belief evaluation is thus dependent on interhemispheric interaction, and mixed-handedness is associated with increased interhemispheric interaction. In Experiment 1 mixed-handers exhibited higher levels of persuasion in a standard attitude-change paradigm, while in Experiment 2 mixed-handers exhibited higher levels of gullibility as measured by the Barnum Effect.
Bush, Nigel E; Wheeler, William M
Although personal electronic devices, such as mobile phones, computers, and tablets, increasingly are being leveraged as vehicles for health in the civilian world, almost nothing is known about personal technology use in the U.S. military. In 2012 we conducted a unique survey of personal technologies used by U.S. military service members. However, with the rapidly growing sophistication of personal technology and changes in consumer habits, that knowledge must be continuously updated to be useful. Accordingly, we recently surveyed new samples of active duty service members, National Guard and Reserve, and veterans. We collected data by online surveys in 2013 from 239 active, inactive, and former service members. Online surveys were completed in-person via laptop computers at a large military installation and remotely via Web-based surveys posted on the Army Knowledge Online Web site and on a Defense Center Facebook social media channel. We measured high rates of personal technology use by service members at home across popular electronic media. The most dramatic change since our earlier survey was the tremendous increase in mobile phone use at home for a wide variety of purposes. Participants also reported moderate non-work uses of computers and tablets while on recent deployment to Iraq and Afghanistan, but almost no mobile phone use, ostensibly because of military restrictions in the war zone. These latest results will enable researchers and technology developers target their efforts on the most promising and popular technologies for psychological health in the military.
Xanthopoulou, D.; Bakker, A.B.; Demerouti, E.; Schaufeli, W.B.
This study investigates how daily fluctuations in job resources (autonomy, coaching, and team climate) are related to employees' levels of personal resources (self-efficacy, self-esteem, and optimism), work engagement, and financial returns. Forty-two employees working in three branches of a
Archuleta, Kristy L; Britt, Sonya L; Tonn, Teresa J; Grable, John E
Using a sample of 310 married respondents from one U.S. Midwestern state, a test was conducted to examine the association of financial satisfaction and financial stressors in a spouse's decision to stay married to the same person or leave the relationship. The role of demographic and socioeconomic variables, religiosity, psychological constructs, financial satisfaction, and financial stressors as factors influencing marital satisfaction was tested. Financial stressors were measured using a list of financial stressors adapted from the literature. Financial satisfaction was measured with a one-item scale. The Kansas Marital Satisfaction Scale was used as a validation tool to assess whether individuals would marry or not marry again. Religiosity and financial satisfaction were positively associated with marital satisfaction. A negative interaction between financial satisfaction and financial stressors was also noted. Findings suggest that respondents who are financially satisfied tend to be more stable in their marriages.
Cloutier, J; Ambady, N; Meagher, T; Gabrieli, J D E
The current study examines the effect of status information on the neural substrates of person perception. In an event-related fMRI experiment, participants were presented with photographs of faces preceded with information denoting either: low or high financial status (e.g., "earns $25,000" or "earns $350,000"), or low or high moral status (e.g., "is a tobacco executive" or "does cancer research"). Participants were asked to form an impression of the targets, but were not instructed to explicitly evaluate their social status. Building on previous brain-imaging investigations, regions of interest analyses were performed for brain regions expected to support either cognitive (i.e., intraparietal sulcus) or emotional (i.e., ventromedial prefrontal cortex) components of social status perception. Activation of the intraparietal sulcus was found to be sensitive to the financial status of individuals while activation of the ventromedial prefrontal cortex was sensitive to the moral status of individuals. The implications of these results towards uncovering the neural substrates of status perception and, more broadly, the extended network of brain regions involved in person perception are discussed. Copyright © 2012 Elsevier Ltd. All rights reserved.
... annually submit income and asset information. VA uses such information to verify a veteran's continuing... financial assessment when initially enrolled and then requests resubmission of this information each year.... If the veteran's financial assessment information is not updated prior to the anniversary date, VA...
Jordan, S; von der Lippe, E; Starker, A; Hoebel, J; Franke, A
The statutory health insurance can offer their insured incentive programmes that will motivate for healthy behaviour through a financial or material reward. This study will show results about what factors influence financial incentive programme participation (BPT) including all sorts of statutory health insurance funds and taking into account gender differences. For the cross-sectional analysis, data were used from 15,858 participants in the study 'Germany Health Update' (GEDA) from 2009, who were insured in the statutory health insurance. The selection of potential influencing variables for a BPT is based on the "Behavioural Model for Health Service Use" of Andersen. Accordingly, various factors were included in logistic regression models, which were calculated separately by gender: predisposing factors (age, education, social support, and health awareness), enabling factors (income, statutory health insurance fund, and family physician), and need factors (smoking, fruit and vegetable consumption, sports, body mass index, and general health status). In consideration of all factors, for both sexes, BPT is associated with age, health awareness, education, use of a family physician, smoking, and sports activities. In addition, income, body mass index, and diet are significant in women and social support and kind of statutory health insurance fund in men. It is found that predisposing, enabling and need factors are relevant. Financial incentive programmes reach population groups with greatest need less than those groups who already have a health-conscious behaviour, who receive a reward for this. In longitudinal studies, further research on financial incentive programmes should investigate the existence of deadweight effects and whether incentive programmes can contribute to the reduction of the inequity in health. © Georg Thieme Verlag KG Stuttgart · New York.
... § 400.4 of this chapter. This form is to be used by associated persons of financial institutions that... Governors of the Federal Reserve System, the Comptroller of the Currency, the Federal Deposit Insurance...
Van Wielingen, L E; Tuokko, H A; Cramer, K; Mateer, C A; Hultsch, D F
The present study examined the relations among levels of cognitive functioning, executive dysfunction, and awareness of financial management capabilities among a sample of 42 community-dwelling persons with dementia. Financial tasks on the Measure of Awareness of Financial Skills (MAFS) were dichotomized as simple or complex based on Piaget's operational levels of childhood cognitive development. Severity of global cognitive impairment and executive dysfunction were significantly related to awareness of financial abilities as measured by informant-participant discrepancy scores on the MAFS. For persons with mild and moderate/severe dementia, and persons with and without executive dysfunction, proportions of awareness within simple and complex financial task categories were tabulated. Significantly less awareness of financial abilities occurred on complex compared with simple tasks. Individuals with mild dementia were significantly less aware of abilities on complex items, whereas persons with moderate/severe dementia were less aware of abilities, regardless of task complexity. Similar patterns of awareness were observed for individuals with and without executive dysfunction. These findings support literature suggesting that deficits associated with dementia first occur for complex cognitive tasks involving inductive reasoning or decision-making in novel situations, and identify where loss of function in the financial domain may first be expected. Copyright Taylor & Francis Ltd
Jansen van Vuren, Fanus
The present fast-changing economic environment contributes to the daily challenges faced by organisations in their attempts to maintain a competitive edge. Employees need to be innovative continuously and maintain high levels of productivity in order to reach organisational goals. From a global perspective, a lot of research has been done concerning personal financial wellbeing, yet very little research on this topic could be found in the South African context. Seeing that intellectual capita...
Robb, Cliff A.; Woodyard, Ann S.
The current research examines the relationship between personal financial knowledge (both objective and subjective), financial satisfaction, and selected demographic variables in terms of best practice financial behavior. Data are taken from the Financial Industry Regulatory Authority's (FINRA) National Financial Capability Study, a nationally…
Hammerman, Ariel; Feder-Bubis, Paula; Greenberg, Dan
Risk-sharing is being considered by many health care systems to address the financial risk associated with the adoption of new technologies. We explored major stakeholders' views toward the potential implementation of a financial risk-sharing mechanism regarding budget-impact estimates for adding new technologies to the Israeli National List of Health Services. According to our proposed scheme, health plans will be partially compensated by technology sponsors if the actual use of a technology is substantially higher than what was projected and health plans will refund the government for budgets that were not fully utilized. By using a semi-structured protocol, we interviewed major stakeholders involved in the process of updating the National List of Health Services (N = 31). We inquired into participants' views toward our proposed risk-sharing mechanism, whether the proposed scheme would achieve its purpose, its feasibility of implementation, and their opinion on the other stakeholders' incentives. Participants' considerations were classified into four main areas: financial, administrative/managerial, impact on patients' health, and influence on public image. Most participants agreed that the conceptual risk-sharing scheme will improve the accuracy of early budget estimates and were in favor of the proposed scheme, although Ministry of Finance officials tended to object to it. The successful implementation of risk-sharing schemes depends mainly on their perception as a win-win situation by all stakeholders. The perception exposed by our participants that risk-sharing can be a tool for improving the accuracy of early budget-impact estimates and the challenges pointed by them are relevant to other health care systems also and should be considered when implementing similar schemes. Copyright © 2012 International Society for Pharmacoeconomics and Outcomes Research (ISPOR). Published by Elsevier Inc. All rights reserved.
... Vessel Operator Financial Responsibility Requirements for Non-Performance of Transportation AGENCY..., 2011, the Commission issued its Notice of Proposed Rulemaking (NPRM) to update its financial... cost of financial responsibility coverage because of the use of alternative coverage options. However...
Securities and Exchange Commission — This is an hourly update of the most recent Interactive Data documents submitted under the "Interactive Data to Improve Financial Reporting" rule (Release No....
... Collection; Comment Request; Statement of Financial Interests, Regional Fishery Management Councils AGENCY... must provide an update of their statements at any time any such financial interest is acquired, or... financial interest in any Council fishery. These interests include harvesting, processing, lobbying...
Bush, Sarah B.; McGatha, Maggie B.; Bay-Williams, Jennifer M.
The current state of the economy elevates the need to build awareness of financial markets and personal finance among the nation's young people through implementing a financial literacy curriculum in schools. A limited amount of time spent on financial literacy can have a positive effect on students' budgeting skills. This knowledge will only add…
This Country Financial Accountability Assessment (CFAA) is an update of the assessment done in 2001. It discusses progress made in the area of Public Financial Management (PFM) reforms since then, and provides a status-matrix in Appendix 1 on the implementation of the key recommendations of the 2001 CFAA. following are recommendations noteworthy: streamline the requirements in the budget ...
The role of an interim financial reporting is to allow the information users to acknowledge the activity of an entity on period shorter than financial exercise from the perspective of the available profits and cash flows generated as well as from the point of view of its financial position and liquidity. The interim financial reporting includes a complete or condensed set of financial statements which target to update the last financial reporting, usually the annual report. The interim financ...
Gina A. N. Chowa
Full Text Available Social workers have many opportunities to integrate a focus on personal finance into their practice with mostly lower-income and vulnerable client populations. However, little is known about social workers’ interest in personal finance. Results of a survey of social workers (N = 56 interested in integrating personal finance content into their practice are reported in this paper. Ways in which social workers might further develop knowledge and skills in personal finance are discussed. Professional perspectives that social workers may lend to inform financial education and counseling and the emerging field of financial therapy are also explored. Social workers can offer an understanding of the environmental risks that affect the financial health of low-income individuals and families and resources that can help build financial capability.
Lichtenberg, Peter A; Ficker, Lisa J; Rahman-Filipiak, Annalise
This study examines preliminary evidence for the Lichtenberg Financial Decision Rating Scale (LFDRS), a new person-centered approach to assessing capacity to make financial decisions, and its relationship to self-reported cases of financial exploitation in 69 older African Americans. More than one third of individuals reporting financial exploitation also had questionable decisional abilities. Overall, decisional ability score and current decision total were significantly associated with cognitive screening test and financial ability scores, demonstrating good criterion validity. Study findings suggest that impaired decisional abilities may render older adults more vulnerable to financial exploitation, and that the LFDRS is a valid tool.
Ciara S. Marley
Full Text Available PURPOSE: Although nearly half of American medical school classes are comprised of women, less than 5% of female medical students enter the surgical subspecialties compared to nearly 20% of male students. Many women are concerned that a career in a surgical field will limit their personal choices. In an effort to evaluate if urology is conducive to a satisfying lifestyle, we surveyed all 365 board certified women urologists in the United States in 2007 to find out how satisfied they are with their choice of urology. MATERIALS AND METHODS: A 114 item anonymous survey was mailed to all 365 American Board Certified female urologists in 2007. Results were analyzed. RESULTS: Of the 244 women (69% who responded, 86.8% (211 reported being satisfied with their decision to enter urology. Given the choice to repeat the decision, 81% (198 said that they would remain in medicine and 91.4% (222 would choose a surgical subspecialty again. The majority of respondents who stated they would choose a career outside of medicine also stated their family life had been significantly compromised by their career. Those who did not think their family life was compromised reported they would remain in medicine. There was a positive correlation between the level of satisfaction with the work itself and with income level (p = 0.006. CONCLUSIONS: Despite the small number of women who choose a career in urology, the number of satisfied women indicates urology is a career conducive to having a balanced and fulfilling life; professionally, personally and financially.
All members and beneficiaries of the Pension Fund are invited to attend the Annual Pension Fund Update to be held in the CERN Council Chamber on Tuesday 20 September 2011 from 10-00 to 12-00 a.m. Copies of the 2010 Financial Statements are available from departmental secretariats. Coffee and croissants will be served prior to the meeting as of 9-30 a.m.
Rodrigues, Cristina S.; Vieira, Filipa Dionísio; Amaral, António Manuel Pereira da Silva; Martins, F. Vitorino
The current financial crisis highlights real problems profoundly related to the level of financial knowledge. Some studies suggest that many individuals, including small business owners, do not have adequate financial skills to be able to handle their finances. The term "financial literacy" summarizes the set of knowledge, skills and attitudes necessary to enable recognition and understanding of the foundations of personal finance. Informed and literate individuals are able to make responsibl...
... accepted accounting principles (GAAP)-based financial information. This notice updates and clarifies the... Housing Assessment System (PHAS): Financial Condition Scoring Notice AGENCY: Office of the Assistant... under the financial condition indicator of the Public Housing Assessment System (PHAS). This notice...
... Collection; Comment Request; Statement of Financial Interests, Regional Fishery Management Councils AGENCY... days of taking office and must provide updates of their statements at any time any such financial... of a State for [[Page 48150
Perioperative nurses have skills that lend themselves to sound financial decision-making, and during these difficult economic times, it is important to know how to secure earnings for the future. Key strategies include saving for retirement, consulting a financial advisor, investing in reliable vehicles, holding investments until the market stabilizes, and controlling credit card debt. Nurses can use the nursing process of assessment, diagnosis, planning, implementation, and evaluation to help them make sound financial decisions. (c) AORN, Inc, 2009.
Ashcroft, Richard E
This paper reviews the ethical controversy concerning the use of monetary incentives in health promotion, focussing specifically on the arguments relating to the impact on personal autonomy of such incentives. Offering people small amounts of money in the context of health promotion and medical care has been attempted in a number of settings in recent years. This use of personal financial incentives has attracted a degree of ethical controversy. One form of criticism is that such schemes interfere with the autonomy of the patient or citizen in an illegitimate way. This paper presents a thematic analysis of the main arguments concerning personal autonomy and the use of monetary incentives in behaviour change. The main moral objections to the uses of incentives are that they may be in general or in specific instances paternalistic, coercive, involve bribery, or undermine the agency of the person. While incentive schemes may engage these problems on occasion, there is no good reason to think that they do so inherently and of necessity. We need better behavioural science evidence to understand how incentives work, in order to evaluate their moral effects in practice. © 2011 Blackwell Publishing Ltd.
The coming of knowledge economy creates unprecedented situation of economy development. The trend of education's globalization as well as communication means frequently updated severely hit the system of financial management. Along with the deep going of education industrialization, and development of logistics management socialization, system and content of university financial management are increasingly expending and getting more and more complex that result in new challenge and problems to financial management. In order to step up with university development of internationalization and the logistics development of socialization, the financial management has to reform in response to this new challenge and trend.
Russell N James III
Full Text Available The study of personal mortality salience and the denial of death have a long history in psychology leading to the modern field of Terror Management Theory. However, a simple consumer utility function predicts many of the outcomes identified in experimental research in this field. Further, this economic approach explains a range of otherwise unexpected financial decision-making behaviors in areas as diverse as annuities, life insurance, charitable gifts and bequests, intra-family gifts and bequests, conspicuous consumption, and healthcare. With its relevance to such a wide range of personal financial decisions, understanding the impact of mortality salience can be particularly useful to advisors in related fields.
Yang, Bijou; Lester, David
The validity of the Executive Personal Finance Scale (EPFS) was tested in a sample of 93 undergraduate students (31 men, 62 women; M age = 20.5 years, SD = 1.3, range = 18-24). Scores on the Motivation drive, Organization, and Planning subscales of this scale were associated with having a savings account, owning bank CDs, and self-estimated knowledge about financial matters, while scores on the Impulse control and Motivational drive subscales were associated with expectations for a satisfactory retirement income. The results provide support for the validity of the EPFS. © The Author(s) 2016.
This is an update to the Office of the Chief Financial Officer's (OCFO's) multi-year strategy to continue to build a highly effective, efficient and compliant financial and business approach to support the scientific mission of Lawrence Berkeley National Laboratory (LBNL). The guiding principles of this strategy are to provide the greatest capability for the least cost while continually raising the standards of professional financial management in service to the LBNL science mission.
... 48 Federal Acquisition Regulations System 5 2010-10-01 2010-10-01 false Financial protection. 828... Contracts 828.7103 Financial protection. (a) A contractor must have and maintain an amount of financial protection to cover liability to third persons and loss of or damage to the contractor's property that meets...
... amend regulations protecting persons who work on, under, or between rolling equipment; and persons...-7257] Railroad Safety Advisory Committee (RSAC); Working Group Activity Update AGENCY: Federal Railroad... Committee (RSAC) Working Group Activities. SUMMARY: The FRA is updating its announcement of RSAC's Working...
Condon, James V.; Prince, Lori H.
This article describes higher education financial assistance tools designed mainly for students of middle- and upper-income families who may not be eligible for financial aid from other sources. It includes the 2007 legislative updates for these tools, all of which have been devised and offered by either state or federal governments. The authors…
... 42 Public Health 4 2010-10-01 2010-10-01 false Financial management services. 441.484 Section 441... Optional Self-Directed Personal Assistance Services Program § 441.484 Financial management services. (a) States may choose to provide financial management services to participants, or their representatives, as...
.... The study provides evidence of the extent of personal financial problems in the military. The analysis describes how financial problems vary with the demographics of the military and with particular aspects of the military work environment (e.g...
... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false U.S. financial institution. 575.320... § 575.320 U.S. financial institution. The term U.S. financial institution means any U.S. person.... This term includes those branches, offices and agencies of foreign financial institutions which are...
...-AA73 International Services Surveys: BE-180, Benchmark Survey of Financial Services Transactions Between U.S. Financial Services Providers and Foreign Persons AGENCY: Bureau of Economic Analysis... Survey of Financial Services Transactions between U.S. Financial Services Providers and Foreign Persons...
Rochon, Paula A; Hoey, John; Chan, An-Wen; Ferris, Lorraine E; Lexchin, Joel; Kalkar, Sunila R; Sekeres, Melanie; Wu, Wei; Van Laethem, Marleen; Gruneir, Andrea; Maskalyk, James; Streiner, David L; Gold, Jennifer; Taback, Nathan; Moher, David
A conflict of interest is defined as "a set of conditions in which professional judgment concerning a primary interest (such as a patient's welfare or the validity of research) tends to be unduly influenced by a secondary interest (such as financial gain)" [Thompson DF. Understanding financial conflicts of interest. N Engl J Med 1993;329(8):573-576]. Because financial conflict of interest (fCOI) can occur at different stages of a study, and because it can be difficult for investigators to detect their own bias, particularly retrospectively, we sought to provide funders, journal editors and other stakeholders with a standardized tool that initiates detailed reporting of different aspects of fCOI when the study begins and continues that reporting throughout the study process to publication. We developed a checklist using a 3-phase process of pre-meeting item generation, a stakeholder meeting and post-meeting consolidation. External experts (n = 18), research team members (n = 12) and research staff members (n = 4) rated or reviewed items for some or all of the 7 major iterations. The resulting Financial Conflicts of Interest Checklist 2010 consists of 4 sections covering administrative, study, personal financial, and authorship information, which are divided into 6 modules and contain a total of 15 items and their related sub-items; it also includes a glossary of terms. The modules are designed to be completed by all investigators at different points over the course of the study, and updated information can be appended to the checklist when it is submitted to stakeholder groups for review. We invite comments and suggestions for improvement at http://www.openmedicine.ca/fcoichecklist and ask stakeholder groups to endorse the use of the checklist.
... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false U.S. financial institution. 594.314... Definitions § 594.314 U.S. financial institution. The term U.S. financial institution means any U.S. person.... This term includes those branches, offices and agencies of foreign financial institutions that are...
... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false U.S. financial institution. 595.316... Definitions § 595.316 U.S. financial institution. The term U.S. financial institution means any U.S. person.... This term includes those branches, offices and agencies of foreign financial institutions which are...
Jenny, Hans H.; Minter, W. John
Modifications to current methods of calculating and reporting financial ratios are outlined for college managers. The modified ratios, felt to be more realistic, are illustrated with applications in three areas: (1) student revenues; (2) endowment and other investment income; and (3) public and private gifts, grants, and contracts revenue. (MSE)
VĂDUVA CECILIA ELENA
Full Text Available The foundation for future firm development is investment. Agents have a risk aversion requiring higher returns as the risks associated with the project will be greater. The investment decision determines the market firm's affirmation, increasing the market share, dominating the market. Making an investment at a certain point will determine certain cash flows throughout the life of the project, and a residual value can be obtained when it is taken out of service. The flows and payments for the investment project can be more easily tracked if we are proposing a constant update rate. We will be able to analyze, based on various factors, three techniques for determining the discount rate for investment projects: the opportunity cost, the risk-free rate, and a series of risk premiums, the weighted average cost of capital. People without financial training make value judgments for investment projects based on other market opportunities, comparing the returns that any investment offers to other pay options. An investor has a sum of money he wants to make - if he does not invest in a project, he will invest in another, that will bring him a certain amount of money, choosing the most advantageous project by comparison. All projects are characterized by identical risks, and the agents are considered indifferent to the risks. The answer given by financial theory and practice to the disadvantage of rates in the opportunity cost category is the discount rate calculated as a sum of the risk-free rate and a risk premium, defining the risk as a factor whose action may cause a possible decrease in cash of the available flows. Higher objectivity is presented by the opportunity cost update rates of update because it refers to known variables but cannot be perfectly matched to the performance of the investment process.
Vienne, Kristy; Slate, John R.
With the increasing cost of a college education on the rise, college administrators need to address the long term financial, psychological, and academic risks associated with the increased responsibility of personal debt. In this qualitative study, college students' perspectives regarding the need for a personal financial management center at a…
International Monetary Fund
This paper presents a factual update of the Insurance Core Principles including insurance sector market and regulatory developments for Switzerland. Regulatory reforms since 2003 have updated Switzerland’s regulatory and supervisory regime for the insurance industry to bring it in line with international best practices. The Insurance Supervision Law (ISL) has reoriented the regulatory focus and expanded the regulatory scope to include group/conglomerate supervision, corporate governance, risk...
Burkhardt, Jeffrey H; Wheeler, John R C
Measuring financial performance in acute care hospitals is a challenge for those who work daily with financial information. Because of the many ways to measure financial performance, financial managers and researchers must decide which measures are most appropriate. The difficulty is compounded for the non-finance person. The purpose of this article is to clarify key financial concepts and describe the most common measures of financial performance so that researchers and managers alike may understand what is being measured by various financial ratios.
Phelan, A; Fealy, G; Downes, C
Financial abuse is arguably the most complex form of elder abuse as it may occur remote to the older person and it is impacted by issues such as cultural values, perpetrator intent and family expectations. Financial abuse may not be recognised by either the older person or the perpetrator, thus, its prevention, early identification and amelioration are important. The (Irish) National Centre for the Protection of Older People undertook a study to determine the appropriateness of the Older Adult Financial Exploitation Measure for use by the national safeguarding older person services. Findings from a small pilot study involving 16 safeguarding staff's use of the Older Adult Financial Exploitation Measure with 52 community dwelling older people referred to their service demonstrate a higher suspicion of financial abuse as well as identifying multiple instances of possible financial exploitation in a single individual. Thus, the Older Adult Financial Exploitation Measure is considered appropriate to assist safeguarding personnel's assessment of older people related to a suspicion of financial abuse. Copyright © 2017 Elsevier B.V. All rights reserved.
Offringa, Reid; Tsai, Laura Cordisco; Aira, Toivgoo; Riedel, Marion; Witte, Susan S
Women engaged in sex work bear a disproportionate burden of HIV infection worldwide, particularly in low- to middle-income countries. Stakeholders interested in promoting prevention and treatment programs are challenged to efficiently and effectively target heterogeneous groups of women. This problem is particularly difficult because it is nearly impossible to know how those groups are composed a priori. Although grouping based on individual variables (e.g., age or place of solicitation) can describe a sample of women engaged in sex work, selecting these variables requires a strong intuitive understanding of the population. Furthermore, this approach is difficult to quantify and has the potential to reinforce preconceived notions, rather than generate new information. We aimed to investigate groupings of women engaged in sex work. The data were collected from a sample of 204 women who were referred to an HIV prevention intervention in Ulaanbaatar, Mongolia. Latent class analysis was used to create subgroups of women engaged in sex work, based on personal and financial risk factors. This analysis found three latent classes, representing unique response pattern profiles of personal and financial risk. The current study approached typology research in a novel, more empirical way and provided a description of different subgroups, which may respond differently to HIV risk interventions.
Amir Ali Shusha
Full Text Available Financial risk tolerance is certainly an important topic for researchers, investors and personal financial planners or consultants. This study purposed to investigate the effect of demographic characteristics on financial risk tolerance among Egyptians. A literature review of demographic determinants of financial risk tolerance showed dialectical results. Therefore, this study attempts to clarify the debatable issues in these results by studying the moderating role of financial literacy in relationships among demographic characteristics and financial risk tolerance. The study sample included 386 respondents representing different segments of Egyptian people. Using the hierarchical regression analysis, the results demonstrated that there were significant effects of gender, age, educational level and annual income on financial risk tolerance. Moreover, the financial literacy moderates the relationships among demographic characteristics of individuals and their tendency to take a risk.
Reinstein, Alan; Churyk, Natalie Tatiana
FASB's new Accounting Standards Update 2011-07 will change how healthcare entities accumulate and report major portions of their financial statements, including patient revenues, net accounts receivables, and bad-debt expenses. Healthcare entities now must reclassify their provisions for bad debts associated with patient service revenue from an operating expense to a deduction from patient service revenue (net of contractual allowances and discounts). International Financial Reporting Standards do not require healthcare entities to comply with this new standard.
... 12 Banks and Banking 3 2010-01-01 2010-01-01 false Qualification as a financial institution. 231.3... RESERVE SYSTEM NETTING ELIGIBILITY FOR FINANCIAL INSTITUTION (REGULATION EE) § 231.3 Qualification as a financial institution. (a) A person qualifies as a financial institution for purposes of sections 401-407 of...
In this article, the effects of fee-for-service personal financial planning on the decision making of a profit-maximizing life insurance general agent are examined. Three refutable propositions are developed which implicate the movements of the general agent who must adjust to a new optimal profit-maximizing allocation of financial planning, personal insurance sales, and agent insurance sales when there is a change in one of the fee or commission rate parameters. It is demonstrated that insur...
... No. FMCSA-2012-0020] RIN-2126-AB48 Rescission of Quarterly Financial Reporting Requirements AGENCY...); request for comments. SUMMARY: FMCSA proposes to eliminate the quarterly financial reporting requirements... person argued that the financial reporting requirements transferred from the Interstate Commerce...
Crawford-Ferre, Heather Glynn; Wiest, Lynda R.; Vega, Stephanie
Because financial literacy is an important skill for middle-grades students, this article suggests numerous personal financial literacy tasks for use in the mathematics classroom. Also provided are specifics for implementing one of these tasks to address mathematical content.
... 17 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false Date of financial statements... RULES AND REGULATIONS, SECURITIES ACT OF 1933 General Requirements § 230.417 Date of financial statements. Whenever financial statements of any person are required to be furnished as of a date within a...
Kolomiyets Ganna M.
Full Text Available The article considers the need to update approaches to hedging the financial risks of small businesses. Reducing the probability of financial costs and losses is of continuing relevance. It appears to be especially critical for small businesses. Small business plays a significant role in the country’s economic system as creator of jobs and as a producer of goods and services that adapts quickly to changing consumer requirements. However, its access to credit resources has certain limitations. The instability of the economic environment by individual factors can affect small businesses not less, and sometimes even more than large and medium-sized businesses. Design of the risk-management in terms of small business needs to be updated. In the current context, there is a need in re-evaluating that the efficient financial risk management can only be carried out in a complex of all the enterprise’s risks, with an increase in the planning horizon and the identification of obstacles to achieving the objective set.
Winters, Ch.A.; Kuntz, S.W.; Hill, W.; Weinert, C.; Rowse, K.
Libby, Montana is a Superfund site and epicenter of one of the worst environmental disasters in the USA history in terms of asbestos-related mortality and morbidity. Perceptions of access and financial aspects of care were explored among a national cohort of persons post asbestos exposure and prior to a 2009 Public Health Emergency Declaration. Our findings indicated the Libby cohort was significantly less satisfied with access and financial aspects of care as measured by two PSQ-III scales when compared to an adult, chronically ill patient sample. Participants with higher levels of respiratory morbidity and depression had significantly lower satisfaction scores
Full Text Available People tend to update beliefs about their future outcomes in a valence-dependent way: they are likely to incorporate good news and to neglect bad news. However, belief formation is a complex process which depends not only on motivational factors such as the desire for favorable conclusions, but also on multiple cognitive variables such as prior beliefs, knowledge about personal vulnerabilities and resources, and the size of the probabilities and estimation errors. Thus, we applied computational modeling in order to test for valence-induced biases in updating while formally controlling for relevant cognitive factors. We compared biased and unbiased Bayesian models of belief updating, and specified alternative models based on reinforcement learning. The experiment consisted of 80 trials with 80 different adverse future life events. In each trial, participants estimated the base rate of one of these events and estimated their own risk of experiencing the event before and after being confronted with the actual base rate. Belief updates corresponded to the difference between the two self-risk estimates. Valence-dependent updating was assessed by comparing trials with good news (better-than-expected base rates with trials with bad news (worse-than-expected base rates. After receiving bad relative to good news, participants' updates were smaller and deviated more strongly from rational Bayesian predictions, indicating a valence-induced bias. Model comparison revealed that the biased (i.e., optimistic Bayesian model of belief updating better accounted for data than the unbiased (i.e., rational Bayesian model, confirming that the valence of the new information influenced the amount of updating. Moreover, alternative computational modeling based on reinforcement learning demonstrated higher learning rates for good than for bad news, as well as a moderating role of personal knowledge. Finally, in this specific experimental context, the approach based on
Oklahoma State Dept. of Vocational and Technical Education, Stillwater. Curriculum and Instructional Materials Center.
This document contains teacher's materials for a course designed for 11th- and 12th-grade students who are interested in pursuing a career in financial institutions. The course consists of six instructional units: orientation, personal money management, the wise use of credit, negotiable instruments, communications, and security. Depending on the…
Yip, Jonathan; Vescan, Allan D; Witterick, Ian J; Monteiro, Eric
Previous studies describe the financial burden of chronic rhinosinusitis (CRS) from the perspective of third-party payers, but, to our knowledge, none analyze the costs borne by patients (i.e., out-of-pocket expenses [OOPE]). Furthermore, this burden has not been previously investigated in the context of a publicly funded health care system. The purpose of this study was to characterize the financial impact of CRS on patients, specifically by evaluating its associated OOPEs and the perceived financial burden. The secondary aim was to determine the factors predictive of OOPEs and perceived burden. Patients with CRS at a tertiary care sinus center completed a self-administered questionnaire that assessed their socioeconomic characteristics, disease-specific quality of life (22-item Sino-Nasal Outcome Test [SNOT-22]), workdays missed due to CRS, perceived financial burden, and direct medical and nonmedical OOPEs over a 12-month period. Total OOPEs were calculated from the sum of direct medical and nonmedical OOPEs. Regression analyses determined factors predictive of OOPEs and the perceived burden. A total of 84 patients completed the questionnaires. After accounting for health insurance coverage and the median direct medical, direct nonmedical, and total OOPEs per patient over a 12-month period were Canadian dollars (CAD) $336.00 (2011) [U.S. $339.85], CAD $129.87 [U.S. $131.86], and CAD $607.10 [U.S. $614.06], respectively. CRS resulted in an average of 20.6 workdays missed over a 12-month period. Factors predictive of a higher financial burden included younger age, a greater number of previous sinus surgeries, financial burden and consider counseling them on strategies to offset expenses, including obtaining travel grants, using telemedicine for follow-up assessments, providing drug samples, and streamlining diagnostic testing with medical visits.
... hold the following financial interests without violating 18 U.S.C. 208(a): (1) The stocks or bonds of a publicly traded corporation with a value of $1000 or less; and (2) The stocks or bonds in the investment portfolio of a diversified mutual fund in which an employee has invested. (b) The Department has found that...
This article argues that financial literacy varies across socioeconomic groups and their neighborhoods, in part because of the adult learning that occurs within a local context. The study begins by explaining that financial literacy needs vary across socioeconomic groups and that there are important structural factors affecting the financial…
Rendtorff, Jacob Dahl
This paper presents an update of the research on European bioethics undertaken by the author together with Professor Peter Kemp since the 1990s, on Basic ethical principles in European bioethics and biolaw. In this European approach to basic ethical principles in bioethics and biolaw......, the principles of autonomy, dignity, integrity and vulnerability are proposed as the most important ethical principles for respect for the human person in biomedical and biotechnological development. This approach to bioethics and biolaw is presented here in a short updated version that integrates the earlier...... research in a presentation of the present understanding of the basic ethical principles in bioethics and biolaw....
International Monetary Fund
This report summarizes the findings of the Financial Sector Assessment Program (FSAP) Update for Spain. Although there is a core of strong banks that are well managed and appear resilient to further shocks, vulnerabilities remain. Substantial progress has been made in reforming the former savings banks, and the most vulnerable institutions have either been resolved or are being restructured. Recent measures address the most problematic part of banks’ portfolios. Moving ahead, a further restru...
Sole, Marla A.
With rising personal and public debt, public and private employers increasingly shifting financial responsibility to individuals, and an increase in both the number of financial investment options and predatory lending practices, today's students need to be financially literate. This paper defines financial literacy and justifies its place in the…
The report is part of a study to update the historical and projected cost/revenue analysis of the U.S. domestic automobile manufacturers. It includes the evaluation of the historical and projected financial data to assess the corporate financial posi...
Franke, Jürgen; Hafner, Christian Matthias
Now in its fourth edition, this book offers a detailed yet concise introduction to the growing field of statistical applications in finance. The reader will learn the basic methods of evaluating option contracts, analyzing financial time series, selecting portfolios and managing risks based on realistic assumptions about market behavior. The focus is both on the fundamentals of mathematical finance and financial time series analysis, and on applications to given problems concerning financial markets, thus making the book the ideal basis for lectures, seminars and crash courses on the topic. For this new edition the book has been updated and extensively revised and now includes several new aspects, e.g. new chapters on long memory models, copulae and CDO valuation. Practical exercises with solutions have also been added. Both R and Matlab Code, together with the data, can be downloaded from the book’s product page and www.quantlet.de
of this study was to investigate the financial insight and behaviour of household .... investigated the influence of quantitative literacy and material values on personal financial behaviour. .... Analysis of variance (ANOVA) was also conducted to determine ..... 'The financial literacy of micro enterprises in South Africa', Journal of.
... 42 Public Health 1 2010-10-01 2010-10-01 false Use of Federal financial assistance. 50.209 Section... OF GENERAL APPLICABILITY Sterilization of Persons in Federally Assisted Family Planning Projects § 50.209 Use of Federal financial assistance. (a) Federal financial assistance adminstered by the Public...
Having worked in the Employees and Commercial Payments Branch of the Financial Management Division for the past 3 summers, I have seen the many changes that have occurred within the NASA organization. As I return each summer, I find that new programs and systems have been adapted to better serve the needs of the Center and of the Agency. The NASA Agency has transformed itself the past couple years with the implementation of the Integrated Financial Management Program (IFMP). IFMP is designed to allow the Agency to improve its management of its Financial, Physical, and Human Resources through the use of multiple enterprise module applications. With my mentor, Joseph Kan, being the branch chief of the Employees and Commercial Payments Branch, I have been exposed to several modules, such as Travel Manager, WebTads, and Core Financial/SAP, which were implemented in the last couple of years under the IFMP. The implementation of these agency-wide systems has sometimes proven to be troublesome. Prior to IFMP, each NASA Center utilizes their own systems for Payroll, Travel, Accounts Payable, etc. But with the implementation of the Integrated Financial Management Program, all the "legacy" systems had to be eliminated. As a result, a great deal of enhancement and preparation work is necessary to ease the transformation from the old systems to the new. All this work occurs simultaneously; for example, e-Payroll will "go live" in several months, but a system like Travel Manager will need to have information upgraded within the system to meet the requirements set by Headquarters. My assignments this summer have given me the opportunity to become involved with such work. So far, I have been given the opportunity to participate in projects resulting from a congressional request, several bankcard reconciliations, updating routing lists for Travel Manager, updating the majordomo list for Travel Manager approvers and point of contacts, and a NASA Headquarters project involving
Baron, Lorraine M.
In this article, the author explores the link between citizens' quantitative literacy abilities and their financial prosperity. The author applies a robust social justice research vision and a Freirean approach to describe personal flourishing within the context of numerical, mathematical, and financial literacy (NMFL) education. Four families…
Charlene A. Winters
Full Text Available Libby, Montana is a Superfund site and epicenter of one of the worst environmental disasters in the USA history in terms of asbestos-related mortality and morbidity. Perceptions of access and financial aspects of care were explored among a national cohort of persons postasbestos exposure and prior to a 2009 Public Health Emergency Declaration. Our findings indicated the Libby cohort was significantly less satisfied with access and financial aspects of care as measured by two PSQ-III scales when compared to an adult, chronically ill patient sample. Participants with higher levels of respiratory morbidity and depression had significantly lower satisfaction scores.
Personal reference lists of the 3 authors were used in this update. ... with a paediatric specialist so that a tailored management plan can be made, depending ..... Cassidy JT, Petty RE, Laxer RM, Lindsley L.Textbook of Pediatric Rheumatology.
The need to strengthen financial reporting through standard setting in Ghana has been examined. The roles of the Institute of Chartered Accountants (Ghana) and Ghana National Accounting Standards Board were found not to be addressing the revision and updating of the standards, and bringing the procedures and ...
Pomeroy, Robert W., III
This guidebook and teacher's guide accompany a personal computer software program and introduce the key elements of financial projection modeling to project the financial statements of an industrial enterprise. The student will then build a model on an electronic spreadsheet. The guidebook teaches the purpose of a financial model and the steps…
Shrestha, Srijana; Judge, Katherine S; Wilson, Nancy L; Moye, Jennifer A; Snow, A Lynn; Kunik, Mark E
Financial and legal services are unique needs of persons with dementia and their caregivers. This study examines their need for legal and financial assistance and the kinds of legal and financial services provided within Partners in Dementia Care, a telephone-based, care coordination and support service intervention delivered through a partnership between Veterans Affairs (VA) medical centers and local Alzheimer's Association chapters. Based on comprehensive assessment, and needs prioritization, care coordinators collaboratively planned action steps (specific behavioral tasks) with each caregiver/person with dementia to address the dyad's identified unmet needs. Results show that 51 (54.8%) of 93 dyads reported a need for legal and financial services. Action steps related to legal and financial need included education or assistance with legal services (27.27%), nonhealth-related financial benefits (32.32%), health-related financial benefits (21.21%), financial management/planning (9.09%), and financial support (10.1%). Comparable numbers of action steps were directed to VA (41.4%) and non-VA (58.6%) services.
... 17 Commodity and Securities Exchanges 1 2010-04-01 2010-04-01 false Financial reports of leverage... COMMISSION LEVERAGE TRANSACTIONS § 31.13 Financial reports of leverage transaction merchants. (a) Each... person must include with such financial report a statement describing the source of his current assets...
.... Surveys of military personnel show that, particularly for junior personnel, financial problems constitute a major source of stress, subordinate only to increased workload and family separation...
. The primary focus is on financial analysts in the task of conducting earnings forecasts while a secondary focus is on investors’ abilities to interpret and make use of these forecasts. Simply put, financial analysts can be seen as information intermediators receiving inputs to their analyses from firm...... in the decision making and the magnitude of these constraints does sometimes vary with personal traits. Therefore, to the extent that financial analysts are subjects to behavioral biases their outputs to the investors are likely to be biased by their interpretation of information. Because investors need accuracy...... management and providing outputs to the investors. Amongst various outputs from the analysts are forecasts of earnings. According to decision theories mostly from the literature in psychology all humans are affected by cognitive constraints to some degree. These constraints may lead to unintentional biases...
Bosshardt, William; Walstad, William B.
The "National Standards for Financial Literacy" describe the knowledge, understanding, and skills that are important for students to learn about personal finance. They are designed to guide teachers, school administrators, and other educators in developing curriculum and educational materials for teaching financial literacy. In this…
Brown, Sarah; Taylor, Karl
We explore the relationship between household finances and personality traits from an empirical perspective. Specifically, using individual level data drawn from the British Household Panel Survey, we analyse the influence of personality traits on financial decision-making at the individual level focusing on decisions regarding unsecured debt acquisition and financial assets. Personality traits are classified according to the 'Big Five' taxonomy: openness to experience, conscientiousness, ext...
Robb, Cliff A.; Sharpe, Deanna L.
Analysis of survey data collected from 6,520 students at a large Midwestern University affirmed that financial knowledge is a significant factor in the credit card decisions of college students but not entirely in expected ways. Results of a double hurdle analysis indicated that students with relatively higher levels of financial knowledge were…
E. E. Frolova
Full Text Available Purpose: the article examines the main problems associated the regulatory acts of Japan – The Financial Instruments and Exchange Act, The Banking Act, The Insurance Business Act, lists the types of financial disputes subject to alternative settlement, identified the parties to the financial dispute. To achieve this goal, the article must solve the following tasks: to determine whether there are institutions in Japan that provide services for resolving financial disputes; to investigate the main problems associated with the definition of the concept and types of financial dispute, the conditions for the transfer of a financial dispute to the competent authority.Methods: this article is based on an interdisciplinary concept of research, which allowed to distinguish the distinctive features of the legal regulation of the settlement of financial disputes in Malaysia.Results: acts of Japan – The Financial Instruments and Exchange Act, The Banking Act, The Insurance Business Act, – refer to financial disputes – disputes resolved by "Designated Dispute Resolution Organizations", the so-called "financial DDRO". Financial disputes are disputes between suppliers and consumers of financial services. The Financial Instruments and Exchange Act details the persons, whose activities fall within the definition of financial provider services. A brief list of financial service providers is available on the website of Japan's main financial regulator, the Financial Services Agency. The list include: Japanese banking institutions, branches and representative offices of foreign banks, business operators of financial instruments, insurance companies, trust companies, financial markets, foreign audit firms. However, unlike other countries of the Asia-Pacific region, consumers of financial services can be both physical and legal entities.Conclusions and Relevance: the materials presented in the article show the special role of "Designated Dispute Resolution
Full Text Available In Australia there is an obligation to promote the informed participation of financial consumers while in South Africa there is an obligation to educate consumers. The Australian obligation is concerned with the financial system as a whole while the South African obligation has generally been focused on general financial education as a tool to promote financial inclusion. There is no obligation for consumers to attain a minimum standard of literacy in credit or finance generally. Financial literacy is one among a number of strategies directed towards inducing changes in consumer behaviour. It sits between the old regulatory model which relies on disclosure of information for effective and rational decision-making and a newer regulatory model which takes into account individuals' perceptions and behavioural biases and may seek to accommodate for these by imposing obligations on financial services providers beyond the mere disclosure of information. Financial literacy is generally the ability to understand how money works, how a person can earn money or make it more. It specifically refers to the set of skills and knowledge that allows people to make informed and effective decisions with all of their financial resources. This article discusses Australian and South African legal obligations and social responsibilities aimed at promoting the financial literacy of consumers.
Cohen, Robin A; Kirzinger, Whitney K
Data from the National Health Interview Survey, 2012. In 2012, more than one in four families experienced financial burdens of medical care. Families with incomes at or below 250% of the federal poverty level (FPL) were more likely to experience financial burdens of medical care than families with incomes above 250% of the FPL. Families with children aged 0-17 years were more likely than families without children to experience financial burdens of medical care. The presence of a family member who was uninsured increased the likelihood that a family would experience a financial burden of medical care. Recently published data from the National Health Interview Survey (NHIS) found that 1 in 5 persons was in a family having problems paying medical bills, and 1 in 10 persons was in a family with medical bills that they were unable to pay at all (1-3). NHIS defines "family" as an individual or a group of two or more related persons living together in the same housing unit. The family perspective is important to consider when examining financial risk because significant expenses for one family member may adversely affect the whole family. Health insurance coverage is one way for a family to mitigate financial risk associated with health care costs, although health insurance status may differ among family members. This report explores selected family demographic characteristics and their association with financial burdens of medical care (problems paying medical bills, paying medical bills over time, and having medical bills that cannot be paid) based on data from the 2012 NHIS. All material appearing in this report is in the public domain and may be reproduced or copied without permission; citation as to source, however, is appreciated.
Multimedia / Photos Videos Publications Bloggers DoD Websites Personal Finance Resources As part of the finance director said here recently. Story Security Expert Advises Troops to Safeguard Personal, Financial education in personal finance that commanders say goes a long way in promoting battle readiness. Story
Department of Veterans Affairs — Common Web Service for VONAPP. Retrieves, creates, updates and deletes a veteranÆs VNP_PERSON record in the Corporate database for a claim selected in the GUI by the...
St. Jacques, Peggy L.; Schacter, Daniel L.
Memory can be modified when reactivated, but little is known about how the properties and extent of reactivation can selectively affect subsequent memory. We developed a novel museum paradigm to directly investigate reactivation-induced plasticity for personal memories. Participants reactivated memories triggered by photos taken from a camera they wore during a museum tour and made relatedness judgments on novel photos taken from a different tour of the same museum. Subsequent recognition memory for events at the museum was better for memories that were highly reactivated (i.e., the retrieval cues during reactivation matched the encoding experience) than for memories that were reactivated at a lower level (i.e., the retrieval cues during reactivation mismatched the encoding experience), but reactivation also increased false recognition of photographs depicting stops that were not experienced during the museum tour. Reactivation thus enables memories to be selectively enhanced and distorted via updating, thereby supporting the dynamic and flexible nature of memory. PMID:23406611
National Centre for Vocational Education Research (NCVER), 2009
The Standard for Vocational Education and Training (VET) financial data offers a nationally consistent standard for the collection, reporting and analysis of the public vocational education and training system information throughout Australia. It forms part of the Australian Vocational Education and Training Management Information Statistical…
Eichelberger, Brenda; Mattioli, Heather; Foxhoven, Rachel
Financial aid is designed to increase access to postsecondary education at all socioeconomic levels; however, college students are not always knowledgeable about personal finances or capable of making sound decisions regarding complex college and program choices, debt options, and long-term spending. This article reviews previous research on the…
Megan Ann McCoy
Full Text Available This paper presents the autoethnography of a doctoral Marriage and Family Therapy (MFT student studying finances in a graduate course. A dataset in the form of field notes was created through recording observations and reflective journaling during the 15 week financial planning course. This data set included observations and insights on various skills and knowledge that would be helpful for conducting financial therapy, the professional and personal growth of a therapist integrating finances into her clinical work, and evaluations regarding how financial courses can be beneficial for therapists and planners who are interested in the interaction between relational and financial issues. Based on the first author’s experiences, reflections and conversations with the second author, four themes were developed. The themes were: (a Seeing the Unnoticed: Challenging Implicit Assumptions, (b Critically Examining My Own Money Scripts, (c What can Therapists Learn From the Financial Discipline, and (d What Financial Planners can Learn from the Clinical Disciplines. Implications for the burgeoning field of financial therapy are discussed, with special attention given to cross-discipline education and training.
Bernards, A.T.; Berghmans, B.C.; Slieker-ten Hove, M.C.; Staal, J.B.; Bie, R.A. de; Hendriks, E.J.
INTRODUCTION AND HYPOTHESIS: Stress urinary incontinence (SUI) is the most common form of incontinence impacting on quality of life (QOL) and is associated with high financial, social, and emotional costs. The purpose of this study was to provide an update existing Dutch evidence-based clinical
A.T.M. Bernards (Arnold); B. Berghmans; M.C.P. Slieker-ten Hove (Marijke); J.B. Staal (Bart); R.A. de Bie (Robert); E.J.M. Hendriks (Erik)
textabstractIntroduction and hypothesis: Stress urinary incontinence (SUI) is the most common form of incontinence impacting on quality of life (QOL) and is associated with high financial, social, and emotional costs. The purpose of this study was to provide an update existing Dutch evidence-based
Talal A. Al-Kassar, Dr.
The research also demonstrates the need to include measures of both financial and non-financial performance in the evaluation as they complement each other. Without both financial and non-financial, the evaluation process is incomplete and does not provide desired results or the correct image of the process. The research suggests including comprehensive measures of performance evaluation of projects by using indicators of adopted criteria. Thus, the application of both models leads to better results and assists users in maintaining greater objectivity while obtaining more accurate results than from analysis based on personal evaluation alone.
Lichtenberg, Peter A; Gross, Evan; Ficker, Lisa J
This work examines the clinical utility of the scoring system for the Lichtenberg Financial Decision-making Rating Scale (LFDRS) and its usefulness for decision making capacity and financial exploitation. Objective 1 was to examine the clinical utility of a person centered, empirically supported, financial decision making scale. Objective 2 was to determine whether the risk-scoring system created for this rating scale is sufficiently accurate for the use of cutoff scores in cases of decisional capacity and cases of suspected financial exploitation. Objective 3 was to examine whether cognitive decline and decisional impairment predicted suspected financial exploitation. Two hundred independently living, non-demented community-dwelling older adults comprised the sample. Participants completed the rating scale and other cognitive measures. Receiver operating characteristic curves were in the good to excellent range for decisional capacity scoring, and in the fair to good range for financial exploitation. Analyses supported the conceptual link between decision making deficits and risk for exploitation, and supported the use of the risk-scoring system in a community-based population. This study adds to the empirical evidence supporting the use of the rating scale as a clinical tool assessing risk for financial decisional impairment and/or financial exploitation.
... Request; Quarterly Survey of Financial Services Transactions Between U.S. Financial Services Providers [email protected] . SUPPLEMENTARY INFORMATION: I. Abstract Form BE-185, Quarterly Survey of Financial Services Transactions between U.S. Financial Services Providers and Foreign Persons, obtains quarterly data from U.S...
Braun, Bonnie; Kim, Jinhee; Anderson, Elaine A.
Families are at-risk of or experiencing a diminished quality of living and life in current economic times and difficult decisions are required. Health and financial literacy are the basis for wise personal and public decision making. Family and consumer sciences (FCS) professionals can forge connections between health and financial literacy to…
... financial institutions. 103.33 Section 103.33 Money and Finance: Treasury Regulations Relating to Money and... Maintained § 103.33 Records to be made and retained by financial institutions. Each financial institution... each advice, request, or instruction given to another financial institution or other person located...
Strickland, Lee S.
Provides an update of new court cases related to Part IV of the series on Information and the War Against Terrorism. Discusses civil liberties versus security involving the legality of mandatory commercial use of biometrics as identification; and communication of privileged information between a person and his or her attorney. (LRW)
... service from [a financial institution] that is to be used primarily for personal, family or household... conservative approach in estimating that there will be 250 swap dealers for PRA purposes. 2. Information... financial products or services primarily for personal, family, or household purposes from the institutions...
This financial report contains the unaudited condensed financial statements of Gaz de France Group for the first half ended June 30, 2007, which were reviewed by the audit committee on August 27, 2007 and by the board of directors at its meeting on August 28, 2007. It includes forward-looking statements concerning the objectives, strategies, financial position, future operating results and the operations of Gaz de France Group. These statements reflect the Group's current perception of its activities and the markets in which it operates, as well as various estimates and assumptions considered to be reasonable. Content: interim management report (highlights of the first half of 2007, revenues and results for the period, financial structure, data on outstanding stock, outlook); interim consolidated financial statements (consolidated statements of income, consolidated balance sheets, consolidated statements of cash flows, recognized income and expenses, statements of changes in shareholders' equity, note to the consolidated financial statements); statement by the person responsible for the interim financial report; statutory auditors' report. (J.S.)
Full Text Available The current developments in the business environment as well as in the accountancy profession have significantly affected the way the financial reports are prepared. This study sought to assess the factors influencing complexity of preparing financial reports in the banking sector in Kenya. The objectives included assessing whether disclosures, adoption of International financial Reporting Standard, regulations and lack of competence by the preparers have contributed to the complexity of preparing financial statements. Using a descriptive study design, data was collected from ten banks registered in the Nairobi Capital Market. The study found out that the identified variables positively contributed to complications in the preparation of financial reports. Management interference, lack of guidance on interpretations and frequent updates of the standards were identified as the main challenges in preparing financial reports. Several recommendations were given to help simplify the process of preparing financial statements.
Full Text Available Personal financial investments are, as a matter of course, a topic of economic education because they are a life situation which is inherently economical. In contrast, faulty advising in banks which has become focussed upon due to the extent it has played a part in the recent financial crisis is mentioned neither in curricula nor in educational text books. Numerous private funds have been exposed as unprofitable investments. One reason for this problem is to be found in the marketing staff of the banks who did not invest their customer’s funds securely enough – and the customers did not notice it. What conclusions can be drawn from this for general financial education after the financial crisis? The economic education has failed to address the topic of “faulty advising in banks” as well. On the basis of categorical economic didactics the following contribution will analyse whether one has an exemplary case here upon which students can win generalized, transferable insights. In this context, the topic of personal financial investments will be classified in an efficient manner and the risk of opportunism in advising situations will be analysed with the help of the positive principal-agent theory. The results of this analysis of informational asymmetries within financial markets give direction to the development and revision of curricula in the didactics of economic education. With the following article a sustainable theoretical fundament will be created to underscore the obligatory inclusion of this topic in curricula as well as its realisation for target groups in school text books.
...] RIN 0691-AA73 International Services Surveys: BE-180, Benchmark Survey of Financial Services Transactions Between U.S. Financial Services Providers and Foreign Persons AGENCY: Bureau of Economic Analysis... BE-180, Benchmark Survey of Financial Services Transactions between U.S. Financial Services Providers...
Straka, Thomas J.
Equivalence is a fundamental concept that is the basis of personal financial planning. Any Extension consumer financial education program would need the concept to explain financial products that involve a series of payments over some length of time (pensions, fixed annuities, and mortgages). A table of annuity factors is presented that can be…
...' financial decision-making capabilities. DATES: Comments must be received on or before October 31, 2012... public disclosure. Sensitive personal information such as account numbers or Social Security numbers... their financial decision making capabilities. OFE is interested in promoting innovation to assist...
... public disclosure. Sensitive personal information such as account numbers or Social Security numbers... in person and online? 4. What programs, policies, accommodations, or benefits do financial service... protections and fraud protections. 5. What unique assistance, if any, is currently offered by financial...
Full Text Available This paper briefly introduces the concept of the refined financial management, elaborates on its characteristics and puts forward some main points about it. It also comes up with some personal suggestions for reference on effective ways of refining financial management.
Full Text Available The article is a revised and updated version of that published on the March 2010 issues of Moneta e Credito. It was there claimed that, up to now, the G20 has supervised the process to revitalize the real economy affected by the Great Recession through fiscal stimuli and a very easy monetary policy, and to rescue the battered financial system by injecting capital into giant banks and firms. The G20 is now turning its attention to financial regulation, with the FSB as its main operational arm. The ideas that are being proposed stress the need for disincentives toward too much risk taking (more capital, higher liquidity, limits to remunerations and bonuses, etc., particularly by big and complex financial institutions that are likely to entail systemic risks. The paper maintains that, as the disincentive approach is insufficient to deter financial managers looking for power, some kind of segmentation needs to be introduced, as suggested by Paul Volcker.
Fischer, Ronald; Boer, Diana
We investigated the relationships between personality traits and basic value dimensions. Furthermore, we developed novel country-level hypotheses predicting that contextual threat moderates value-personality trait relationships. We conducted a three-level v-known meta-analysis of correlations between Big Five traits and Schwartz's (1992) 10 values involving 9,935 participants from 14 countries. Variations in contextual threat (measured as resource threat, ecological threat, and restrictive social institutions) were used as country-level moderator variables. We found systematic relationships between Big Five traits and human values that varied across contexts. Overall, correlations between Openness traits and the Conservation value dimension and Agreeableness traits and the Transcendence value dimension were strongest across all samples. Correlations between values and all personality traits (except Extraversion) were weaker in contexts with greater financial, ecological, and social threats. In contrast, stronger personality-value links are typically found in contexts with low financial and ecological threats and more democratic institutions and permissive social context. These effects explained on average more than 10% of the variability in value-personality correlations. Our results provide strong support for systematic linkages between personality and broad value dimensions, but they also point out that these relations are shaped by contextual factors. © 2014 Wiley Periodicals, Inc.
James, Bryan D; Boyle, Patricia A; Bennett, Jarred S; Bennett, David A
Health and financial literacy have been linked to the health and well-being of older adults, yet there are few data on how health and financial literacy actually impact decision making regarding healthcare and economic choices in advanced age. To examine the association of health and financial literacy with decision making in older adults. Data came from 525 community-dwelling older persons without dementia from the Rush Memory and Aging Project, an ongoing longitudinal study of aging. Health and financial literacy were assessed via a series of questions designed to measure comprehension of health and financial information and concepts. The two scores were averaged to yield a total literacy score. A modified, 12-item version of the Decision-Making Competence Assessment Tool was used to measure financial and healthcare decision making (6 items each), using materials designed to approximate those used in real world settings. All 12 items were summed to yield a total decision-making score. Associations were tested via linear regression models adjusted for age, sex and education. Secondary models adjusted for global cognitive function, income, depression and chronic medical conditions. On average, participants correctly answered 67% of the literacy questions (health literacy = 61.6%, SD = 18.8% and financial literacy = 72.5%, SD = 16.0%). After adjustment for cognitive function, the total literacy score was positively associated with the decision-making total score (estimate = 0.64, SE = 0.08, p financial decision making (estimate = 0.28, SE = 0.05, p literacy, health and financial literacy all were independently associated with decision making in models adjusted for covariates including income, depression, and chronic medical conditions (all p values literacy and healthcare decision making was stronger among older persons, poorer persons and persons at the lower ranges of cognitive ability. Among community based older persons without dementia, higher levels of health
The 2008 recession underscored public concern that financial illiteracy has costs that are not limited to the individual who makes poor financial decisions. Considering that college students with limited financial experience are making legally binding decisions, this study explored the personal finance literacy and behavior of Christian college…
Lefevere, Eva; Hens, Niel; De Smet, Frank; Beutels, Philippe
Adolescent vaccination coverage under a system of non school-based vaccination is likely to be suboptimal, but might be increased by targeted encouragement campaigns. We analysed the effect on human papillomavirus (HPV) vaccination initiation by girls aged 12-18 of two campaigns set up in Flanders (Belgium) in 2007 and 2009: a personal information campaign and a combined personal information and financial incentive campaign. We analysed (objective) data on HPV vaccination behaviour from the National Alliance of Christian Mutualities (NACM), Flanders' largest sickness fund. We used z-scores to compare the monthly proportion of girls initiating HPV vaccination over time between carefully selected intervention and control groups. Separate analyses were done for older and younger girls. Total sample sizes of the intervention (control) groups were 221 (243) for the personal information campaign and 629 (5,322) for the combined personal information and financial incentive campaign. The personal information campaign significantly increased vaccination initiation, with older girls reacting faster. One year after the campaign the percentages of vaccination initiation for the oldest girls were 64.6 and 42.8 % in the intervention and control group, respectively (z = 3.35, p = 0.0008); for the youngest girls the percentages were 78.4 and 68.1 % (z = 1.71, p = 0.09). The combined personal information and financial incentive campaign increased vaccination initiation among certain age groups. One year after the campaign the difference in percentage points for HPV vaccination initiation between intervention and control groups varied between 18.5 % (z = 3.65, p = 0.0002) and 5.1 % (z = 1.12, p = 0.26). Under a non school-based vaccination system, personal information and removing out-of-pocket costs had a significant positive effect on HPV vaccination initiation, although the effect substantially varied in magnitude. Overall, the obtained vaccination rates remained far below those
Full Text Available Web with tremendous volume of information retrieves result for user related queries. With the rapid growth of web page recommendation, results retrieved based on data mining techniques did not offer higher performance filtering rate because relationships between user profile and queries were not analyzed in an extensive manner. At the same time, existing user profile based prediction in web data mining is not exhaustive in producing personalized result rate. To improve the query result rate on dynamics of user behavior over time, Hamilton Filtered Regime Switching User Query Probability (HFRS-UQP framework is proposed. HFRS-UQP framework is split into two processes, where filtering and switching are carried out. The data mining based filtering in our research work uses the Hamilton Filtering framework to filter user result based on personalized information on automatic updated profiles through search engine. Maximized result is fetched, that is, filtered out with respect to user behavior profiles. The switching performs accurate filtering updated profiles using regime switching. The updating in profile change (i.e., switches regime in HFRS-UQP framework identifies the second- and higher-order association of query result on the updated profiles. Experiment is conducted on factors such as personalized information search retrieval rate, filtering efficiency, and precision ratio.
Sekimoto, Yoshihide; Nakajo, Satoru; Minami, Yoshitaka; Yamaguchi, Syohei; Yamada, Harutoshi; Fuse, Takashi
Recently, disclosure of statistic data, representing financial effects or burden for public work, through each web site of national or local government, enables us to discuss macroscopic financial trends. However, it is still difficult to grasp a basic property nationwide how each spot was changed by public work. In this research, our research purpose is to collect road update information reasonably which various road managers provide, in order to realize efficient updating of various maps such as car navigation maps. In particular, we develop the system extracting public work concerned and registering summary including position information to database automatically from public work order outlook, released by each local government, combinating some web mining technologies. Finally, we collect and register several tens of thousands from web site all over Japan, and confirm the feasibility of our method.
Tamura, A.T.; Lorenz, J.J.
This update contains information on the Nevada Nuclear Waste Storage Investigations (NNWSI) that was added to the DOE Energy Data Base during the first six months of 1987. The update is categorized by principal NNWSI Project participating organization, and items are arranged in chronological order. Participant-sponsored subcontractor reports, papers, and articles are included in the sponsoring organization's list. The publication following this update will be a supplement to the first bibliography (DOE/TIC-3406) and will include all information retrieved from January 1, 1986, to December 31, 1987. It will be a cumulation of all updates for this two-year interval and will include indexing for: Corporate Author, Personal Author, Subject, Contract Number, Report Number, Order Number Correlation, and Key Word in Context
This table aims to gather information on the amounts available to compensate potential victims of a nuclear incident in countries and economies having nuclear power plants and/or having ratified at least one of the international conventions on nuclear third party liability. In the table: Public funds correspond to the amounts provided from public funds beyond the Operator's Liability Amount to be made available by the States parties to the BSC or CSC according to such conventions, or by any public authority pursuant to applicable laws and regulations. International funds correspond to public funds contributed jointly by all the States parties to the BSC or CSC according to a pre-determined formula provided in the respective conventions. The amount provided in the table corresponds to the total amount of the international funds calculated the day the table was updated. For the CSC international fund, an on-line calculator is available at https://ola.iaea.org/ola/CSCND/index.html Under Article V, subparagraph 1 of the Vienna Convention, 'The liability of the operator may be limited by the Installation State to not less than US $5 million for any one nuclear incident'. Subparagraph 3 of the same article further provides that 'The United States dollar referred to in this Convention is a unit of account equivalent to the value of the United States dollar in terms of gold on 29 April 1963, that is to say US $35 per one troy ounce of fine gold'. Therefore, in this table (1963: USD 5 million) means that a country applies the Operator's Liability Amount as provided under the Vienna Convention. With regard to the BSC, in 1992 the OECD Council issued a recommendation [C(92)166/FINAL] that the contracting parties to the BSC shall not invoke Article 3 (b)(i) of the BSC in cases where the amount of the insurance or other financial security of the operator is higher than SDR 175 million per incident (i.e. public funds tier) of the BSC. As a
Achraf A. Seyam
Full Text Available The going concern principle assumes that an entity will continue to exist into the future. This assumption implies that the entity will not be compelled to end their operations, liquidate their assets, or go into bankruptcy. It is an integral assumption in financial statements since it allows for the deferral of recognition of certain expenses until a period of time into the future, when the company is still assumed to exist. Members of management, as well as financial statement auditors, are required to identify signs that could indicate that an entity will not be able to continue their operations into the near future. Some of these signs include a trend of operating losses, loan defaults, legal proceedings against the entity and so forth. The Financial Accounting Standards Board (FASB updated the going concern guidelines so that issuers of financial statements are uniform in frequency and substance of going concern determination. Prior to the Accounting Standards Update, U.S. GAAP lacked sufficient guidance about management’s responsibility to evaluate whether there is substantial doubt of the entity’s ability to continue as going concern. In order to clarify the uncertainty, FASB issued a new financial reporting standard. This new reporting will be in effect for the annual period ending after December 15, 2016. The updated standard will require management to perform annual and interim assessments of an entity’s ability to continue as a going concern for one year from the date of financial statements issuance.
... Associate Executive Director of the Office of Financial Management. 200.30-13 Section 200.30-13 Commodity... authority to Associate Executive Director of the Office of Financial Management. Pursuant to the provisions... Financial Management, to be performed by him or her, or under his or her direction by such person or persons...
Full Text Available The Schools Act, 84 of 1996 (section 42(b, requires that all public schools in South Africa, “as soon as practical, but not later than three months after the end of each financial year, draw up annual financial statements”. These schools must further submit audited financial statements to the Department of Education within six months after the school’s year end (section 43 and according to section 43(6, “at the request of an interested person, the governing body must make the records referred to in section 42, and the audited or examined financial statements referred to in this section, available for inspection”. The compilation, auditing and submission of these statements are therefore legally required and are compulsory for all schools. The study aims firstly to establish whether schools in South Africa comply with the current legislative prescripts and accounting and auditing practices, and secondly to identify possible problem areas in this regard.
Meyer, Melanie A; Hudak, Ronald P
We investigated the relationship between financial literacy and patient engagement while considering the possible interaction effects due to patient financial responsibility and patient-physician shared decision making, and the impact of personal attributes. Participants consisted of an Internet-based sample of American adults (N = 160). Hierarchical multiple linear regression analysis was conducted to examine the relationship of the study variables on patient engagement. We found that patient financial responsibility (β = -.19, p financial literacy and patient engagement; moreover, the moderation effects of patient financial responsibility and shared decision making with financial literacy also were not statistically significant. Increasing patient financial responsibility and patient-physician shared decision making can impact patient engagement. Understanding the predictors of patient engagement and the factors that influence financial behaviors may allow for the development of interventions to enable patients to make better healthcare decisions, and ultimately, improve health outcomes.
Cull, Michelle; Davis, Glenda
In the aftermath of the global financial crisis (GFC), one understandable area of scrutiny and pressure for reform is the educational background and professionalism of personal financial advisers. This Australian study reports on a three-year investigation into students' perceptions of "scaffolded" instruction in financial planning. The…
.... The Working Group continues to work on after arrival orders, and at the September 25-26, 2008, meeting... protecting persons who work on, under, or between rolling equipment and persons applying, removing or.... 63] Railroad Safety Advisory Committee (RSAC); Working Group Activity Update AGENCY: Federal Railroad...
Rajola, Federico; Frigerio, Chiara; Parrichi, Monica
In developed countries, economic and financial well-being is playing a crucial positive role in ageing and inclusion processes. Due to the complexity and pervasiveness of financial economy in the real life, more and more social as well as individual well-being are perceived as influenced by financial conditions. On the other hand, the demographic circumstances drive scholars as well as politicians to reflect on ageing dynamics. Bridging the two domains, the following research focuses on the role of the financial well-being as a mediating role of general well-being in elder people. The assumption is that elderly people have specific financial needs that sometimes are not covered by financial providers' offers. The motivation is mainly on the role of information asymmetries between elder consumers and financial institutions. On the dynamics of these asymmetries, the research will specifically investigate the role of financial literacy, as the ability of comprehension of elder people of their needs and of financial information. The applicative implication of this research work consists in finding the determinants of financial well-being for elders and the definition of their specific financial competencies, in order to 1) identify educational and regulatory guidelines for policy makers in charge of creating financial market transparency conditions, and to 2) support design of organizational mechanisms as well as financial product/services for this specific target of client. The following chapter presents preliminary explorative results of a survey delivered on 200 elder individuals (65-80 yrs.) leaving in Milan. Findings show that active elders consider the ability of managing personal wealth as one of the core determinant of well-being, although the economic and financial literacy is limited. Furthermore, the chapter proposes a research agenda for scholars interested in exploring the relationship between financial well-being and ageing.
Rottman, Benjamin Margolin
Whether humans can accurately make decisions in line with Bayes' rule has been one of the most important yet contentious topics in cognitive psychology. Though a number of paradigms have been used for studying Bayesian updating, rarely have subjects been allowed to use their own preexisting beliefs about the prior and the likelihood. A study is reported in which physicians judged the posttest probability of a diagnosis for a patient vignette after receiving a test result, and the physicians' posttest judgments were compared to the normative posttest calculated from their own beliefs in the sensitivity and false positive rate of the test (likelihood ratio) and prior probability of the diagnosis. On the one hand, the posttest judgments were strongly related to the physicians' beliefs about both the prior probability as well as the likelihood ratio, and the priors were used considerably more strongly than in previous research. On the other hand, both the prior and the likelihoods were still not used quite as much as they should have been, and there was evidence of other nonnormative aspects to the updating, such as updating independent of the likelihood beliefs. By focusing on how physicians use their own prior beliefs for Bayesian updating, this study provides insight into how well experts perform probabilistic inference in settings in which they rely upon their own prior beliefs rather than experimenter-provided cues. It suggests that there is reason to be optimistic about experts' abilities, but that there is still considerable need for improvement.
Full Text Available Risiko adalah kemungkinan terjadinya penyimpangan dari harapan yang dapat menimbulkan kerugian. Pengelolaan risiko yang baik akan memberikan keuntungan bagi perusahaan. Sama dengan pelaksanaan proyek-proyek yang lain, maka updating CIM di perusahaan ini tidak tertutup kemungkinan terjadinya risiko. Maka peneliti akan menerapkan manajemen risiko untuk updating CIM. Penelitian ini bertujuan untuk memberikan gambaran potensi risiko yang muncul ketika melakukan updating pada CIM dan memberikan rekomendasi penanganan risiko untuk proyek serupa di masa akan datang. Pengelolaan risiko dilakukan dengan mengadopsi framework ISO 31000:2009. Pada penelitian ini, konsep implementasi sistem/updating CIM mengadopsi konsep Meyfroidt sebagai kerangka kerja untuk mengidentifikasi risiko. Identifikasi risiko dilakukan dengan berdasarkan pada aktivitas, kemudian risiko yang telah teridentifikasi diklasifikasikan ke dalam empat aspek risiko yaitu technical, human resources, organization and control, dan financial. Risiko yang paling banyak muncul adalah aspek human resources. Penanganan risiko dilakukan dengan mencari hubungan keterkaitan sebab akibat antar risiko ekstrim. Dalam updating CIM selanjutnya, perusahaan perlu memperhatikan aspek human resources karena risiko yang diidentifikasi banyak disebabkan karena kurangnya kompetensi SDM. Selain itu memperhatikan permasalahan dalam hal ketidakakuratan engineering design, koordinasi antar anggota tim, pengiriman alat/mesin oleh supplier, dan kecelakaan kerja.
Goetz, Joseph; Cude, Brenda J.; Nielsen, Robert B.; Chatterjee, Swarn; Mimura, Yoko
Using online survey responses from 509 undergraduate students, three financial education methods (on-campus financial counseling center, online financial management resources, and in-person educational workshops) were examined. Using a social constructionist framework, the analysis controlled for various demographic and financial factors. The…
St. Jacques, Peggy L.; Olm, Christopher; Schacter, Daniel L.
We remember a considerable number of personal experiences because we are frequently reminded of them, a process known as memory reactivation. Although memory reactivation helps to stabilize and update memories, reactivation may also introduce distortions if novel information becomes incorporated with memory. Here we used functional magnetic resonance imaging (fMRI) to investigate the neural mechanisms mediating reactivation-induced updating in memory for events experienced during a museum tou...
O'Neill, Barbara; Xiao, Jing Jian; Ensle, Karen
This study explored relationships between the practice of following a hand-written or computer-generated budget and the frequency of performance of positive personal health and financial practices. Data were collected from an online quiz completed by 942 adults, providing a simultaneous assessment of individuals' health and financial practices.…
Engel, Lisa; Bar, Yael; Beaton, Dorcas E; Green, Robin E; Dawson, Deirdre R
Financial management skills-that is, the skills needed to handle personal finances such as banking and paying bills-are essential to a person's autonomy, independence, and community living. To date, no comprehensive review of financial management skills instruments exists, making it difficult for clinicians and researchers to choose relevant instruments. The objectives of this review are to: (a) identify all available instruments containing financial management skill items that have been used with adults with acquired cognitive impairments; (b) categorize the instruments by source (i.e., observation based, self-report, proxy report); and (c) describe observation-based performance instruments by populations, overarching concepts measured, and comprehensiveness of financial management items. Objective (c) focuses on observation-based performance instruments as these measures can aid in situations where the person with cognitive impairment has poor self-awareness or where the proxy has poor knowledge of the person's current abilities. Two reviewers completed two systematic searches of five databases. Instruments were categorized by reviewing published literature, copies of the instruments, and/or communication with instrument authors. Comprehensiveness of items was based on nine key domains of financial management skills developed by the authors. A total of 88 discrete instruments were identified. Of these, 44 were categorized as observation-based performance and 44 as self- and/or proxy-reports. Of the 44 observation-based performance instruments, 8 had been developed for acquired brain injury populations and 24 for aging and dementia populations. Only 7 of the observation-based performance instruments had items spanning 6 or more of the 9 financial management skills domains. The majority of instruments were developed for aging and dementia populations, and few were comprehensive. This review provides foundation for future instrument psychometric and clinimetric
Goetz, Kristopher; Janney, Michelle; Ramsey, Kristin
With nurses and unlicensed supportive personnel composing the greatest percentage of the workforce at any hospital, it is not surprising nursing leadership plays an increasing role in the attainment of financial goals. The nursing leadership team at one academic medical center reduced costs by more than $10 million over 4 years while outperforming national benchmarks on nurse-sensitive quality indicators. The most critical success factor in attaining exceptional financial performance is a personal and collective accountability to achieving outcomes. Whether it is financial improvement, advancing patient safety, or ensuring a highly engaged workforce, success will not be attained without thoughtful, focused leadership. The accountability model ensures there is a culture built around financial performance where nurses and leaders think and act, on a daily basis, in a manner necessary to understand opportunities, find answers, and overcome obstacles. While structures, processes, and tools may serve as the means to achieve a target, it is leadership's responsibility to set the right goal and motivate others.
Gardiner, Paul A; Byrne, Gerard J; Mitchell, Leander K; Pachana, Nancy A
Older people with cognitive impairment and/or dementia may be particularly vulnerable to diminished financial decision-making capacity. Financial capacity refers to the ability to satisfactorily manage one's financial affairs in a manner consistent with personal self-interest and values. Impairment of financial capacity makes the older individual vulnerable to financial exploitation, may negatively affect their family's financial situation and places strain on relationships within the family. Clinicians are often on the front line of responding to queries regarding decision-making capacity, and clinical evaluation options are often not well understood. Assessment of financial capacity should include formal objective assessment in addition to a clinical interview and gathering contextual data. Development of a flexible, empirically supported and clinically relevant assessment approach that spans all dimensions of financial capacity yet is simple enough to be used by non-specialist clinicians is needed.
This paper examines the definitions and measurement scales for financial literacy presented in previous studies in order to develop a new financial literacy scale. The early definition of financial literacy basically meant “financial knowledge,” but the latest definition has been extended to include or refer to consumers’ financial behaviours, consumers’ interactions with their social and economic environments, and the effect of cognitive biases on consumers’ financial behaviours. On the other hand, conventional measurement scales for financial literacy are generally composed of declarative knowledge questions and numerical ability tests concerning personal finance. This paper addresses the fact that previous financial literacy scales have been based on the traditional concept of “Homo economicus”. We suggest that it is necessary to develop a new financial literacy scale that is comprised of critical thinking disposition such as “awareness for logical thinking” or “evidence-based judgment.”
..., Benchmark Survey of Financial Services Transactions Between U.S. Financial Services Providers and..., Benchmark Survey of Financial Services Transactions Between U.S. Financial Services Providers and Unaffiliated Foreign Persons. A BE-80, Benchmark Survey of Financial Services Transactions Between U.S...
Fiksenbaum, Lisa; Marjanovic, Zdravko; Greenglass, Esther; Garcia-Santos, Francisco
The present study tested the extent to which perceived economic hardship is associated with psychological distress (suicide ideation and confusion) after controlling for personal characteristics. It also explored whether perceived financial threat (i.e., fearful anxious-uncertainty about the stability and security of one's personal financial situation) mediates the relationship between economic hardship and psychological distress outcomes. The theoretical model was tested in a sample of Canadian students (n = 211) and was validated in a community sample of employed Portuguese adults (n = 161). In both samples, the fit of the model was good. Parameter estimates indicated that greater experience of economic hardship increased with financial threat, which in turn increased with levels of suicide ideation and confusion. We discuss the practical implications of these results, such as for programs aimed at alleviating the burden of financial hardship, in our concluding remarks.
Murphy, Joe; Rosen, Jeffrey; Richards, Ashley; Riley, Sarah; Peytchev, Andy; Lindblad, Mark
Self-reports of financial information in surveys, such as wealth, income, and assets, are particularly prone to inaccuracy. We sought to improve the quality of financial information captured in a survey conducted by phone and in person by encouraging respondents to check records when reporting on income and assets. We investigated whether…
Dong, Francis Henry
In the wake of recent events, especially the Great Recession of 2007-2009, affecting the economy, resulting in job losses, personal financial distress, and gloomy perceptions of their future well-being, many Americans are concerned about their financial quality of life in retirement. The media is replete with a plethora of advertisements for…
... 46 Shipping 9 2010-10-01 2010-10-01 false Regulated Persons Index. 515.34 Section 515.34 Shipping FEDERAL MARITIME COMMISSION REGULATIONS AFFECTING OCEAN SHIPPING IN FOREIGN COMMERCE LICENSING, FINANCIAL... Commission § 515.34 Regulated Persons Index. The Regulated Persons Index is a database containing the names...
Full Text Available In order to monitor lending operations, implicitly leading to an increase in money supply, and all financial and non-financial transactions, non-bank financial institutions allow empowered personnel of National Bank of Romania to examine their records, accounts and transactions, providing to this end all the documents and information concerning the management, internal control and operations of non-bank financial institutions, as will be required. Registered non-bank financial institutions carrying out monetary activities are legal persons reporting to the Credit Risk Control of National Bank of Romania, in compliance with the field regulations issued by the above mentioned bank.
Full Text Available In order to monitor lending operations, implicitly leading to an increase in money supply, and all financial and non-financial transactions, non-bank financial institutions allow empowered personnel of National Bank of Romania to examine their records, accounts and transactions, providing to this end all the documents and information concerning the management, internal control and operations of non-bank financial institutions, as will be required. Registered non-bank financial institutions carrying out monetary activities are legal persons reporting to the Credit Risk Control of National Bank of Romania, in compliance with the field regulations issued by the above mentioned bank.
Teichman, J M; Bernheim, B D; Espinosa, E A; Cecconi, P P; Meyer, J; Pearle, M S; Preminger, G M; Leveillee, R J
To examine personal financial management among residents to answer three research questions: do residents make reasonable financial choices; why do some residents not save; and what steps can be taken to improve residents' personal financial decisions. Portions of the Federal Reserve Board's Survey of Consumer Finances were modified and piloted to elicit demographic, expense, saving, and income data. The final questionnaire was completed by 151 urology residents at 20 programs. Comparing residents with the general population in the same age and income categories, the median debt/household income ratio was 2.38 versus 0.64. Residents had greater educational debt, greater noneducational debt, and lower savings. Resident participation in retirement accounts was 100% at institutions with employer-matching 401k or 403b plans, 63% at institutions with nonmatching 401k or 403b plans, and 48% at institutions without retirement plans for residents (P = 0.002). Fifty-nine percent of residents budgeted expenses, 27% had cash balances below $1000, 51% had paid interest charges on credit cards within the previous year, and 12% maintained unpaid credit card balances greater than $10,000. The median resident income was $38,400. A significant minority of residents appear not to make reasonable financial choices. Some residents save little because of a failure to budget, indebtedness, high projected income growth, or insufficient attention to personal financial management. Residents save more when they are eligible for tax-deferred retirement plans, particularly when their institution matches their contributions. Many residents would benefit from instruction concerning prudent financial management.
Xu, G; Veloski, J J; Barzansky, B; Hojat, M; Diamond, J; Silenzio, V M
A national survey of family physicians, general internists, and general pediatricians was conducted in the US to examine differences among the three groups of generalists physicians, with particular regard to the factors influencing their choice of generalist career. Family physicians were more likely to have made their career decision before medical school, and were more likely to have come from inner-city or rural areas. Personal values and early role models play a very important role in influencing their career choice. In comparison, a higher proportion of general internists had financial aid service obligations and their choice of the specialty was least influenced by personal values. General pediatricians had more clinical experiences either in primary care or with underserved populations, and they regarded medical school experiences as more important in influencing their specialty choice than did the other two groups. Admission committees may use these specialty-related factors to develop strategies to attract students into each type of generalist career.
Branko Matic; Hrvoje Serdarusic; Maja Vretenar Cobovic
The authors examine the impact of changed economic circumstances to manage personal finances. Analyze financial involvement, level of education and the management of personal finances population in Croatia. The paper used the method of analysis, synthesis, induction, deduction, and a survey poll.
Frydman, Cary; Camerer, Colin F
Financial decisions are among the most important life-shaping decisions that people make. We review facts about financial decisions and what cognitive and neural processes influence them. Because of cognitive constraints and a low average level of financial literacy, many household decisions violate sound financial principles. Households typically have underdiversified stock holdings and low retirement savings rates. Investors overextrapolate from past returns and trade too often. Even top corporate managers, who are typically highly educated, make decisions that are affected by overconfidence and personal history. Many of these behaviors can be explained by well-known principles from cognitive science. A boom in high-quality accumulated evidence-especially how practical, low-cost 'nudges' can improve financial decisions-is already giving clear guidance for balanced government regulation. Copyright © 2016 The Authors. Published by Elsevier Ltd.. All rights reserved.
Full Text Available During the past few years, Tehran Stock Exchange (TSE has been changed into one of the most popular places to invest and index has been quadrupled in fewer than three years. As a result, many people have been attracted to invest on TSE market. This paper presents an empirical investigation to study the effects of investors’ personal characteristics including financial management skills, wealth and financial intelligence on investors’ risk tolerance among 384 randomly chosen investors who were active on TSE market in city of Esfahan, Iran. Using structural equation modeling, the study has determined that financial management skills, wealth and financial intelligence influence positively on investors’ risk tolerance.
Berliner, Lauren S; Kenworthy, Nora J
For Americans experiencing illnesses and disabilities, crowdfunding has become a popular strategy for addressing the extraordinary costs of health care. The political, social, and health consequences of austerity--along with fallout from the 2008 financial collapse and the shortcomings of the Affordable Care Act (ACA)--are made evident in websites like GoFundMe. Here, patients and caregivers create campaigns to solicit donations for medical care, hoping that they will spread widely through social networks. As competition increases among campaigns, patients and their loved ones are obliged to produce compelling and sophisticated appeals. Despite the growing popularity of crowdfunding, little research has explored the usage, impacts, or consequences of the increasing reliance on it for health in the U.S. or abroad. This paper analyzes data from a mixed-methods study conducted from March-September 2016 of 200 GoFundMe campaigns, identified through randomized selection. In addition to presenting exploratory quantitative data on the characteristics and relative success of these campaigns, a more in-depth textual analysis examines how crowdfunders construct narratives about illness and financial need, and attempt to demonstrate their own deservingness. Concerns with the financial burdens of illness, combined with a high proportion of campaigns in states without ACA Medicaid expansion, underscored the importance of crowdfunding as a response to contexts of austerity. Successful crowdfunding requires that campaigners master medical and media literacies; as such, we argue that crowdfunding has the potential to deepen social and health inequities in the U.S. by promoting forms of individualized charity that rely on unequally-distributed literacies to demonstrate deservingness and worth. Crowdfunding narratives also distract from crises of healthcare funding and gaping holes in the social safety net by encouraging hyper-individualized accounts of suffering on media platforms
Jacobs, Cheryl; Thomas, Charlie
The shortage of cadaveric organs and increased success of living donor transplantation support the use of living organ donors. Clinical social workers have the opportunity to explore a variety of donor-specific issues when performing psychosocial evaluations of living donors, including motivation, psychological stability, and personal and family consequences of donation, as well as the direct and indirect financial consequences faced by living donors. Although most donor-related medical costs are covered, other associated expenses are not reimbursable and may put donors at risk for financial hardship. Out-of-pocket expenses also serve as a disincentive to donate for some volunteers. During the evaluation process, healthcare professionals should openly discuss how surgery, recovery, and any potential complications might impact prospective donors' financial situation. Donors can then decide whether they are able to realistically handle the costs of donation. We present the financial dilemmas experienced by many living donors and highlight efforts that have been made to deal with them.
Sarah D Asebedo
Full Text Available This paper presents a well-known and highly utilized conflict resolution framework from the mediation profession and demonstrates how to apply this framework to money arguments. While conflict resolution skills have been identified as important to communication within the financial planning context, an integrated conflict resolution framework has yet to be recognized and understood within the financial planning literature. This paper aims to fill this gap. Ultimately, both mental health professionals and financial planners can benefit from an interdisciplinary approach to resolving money arguments by combining training in personal financial strategies and conflict resolution principles.
Full Text Available Economy and civil society has gone through an unprecedented financial crisis determined by an acute shortage of financial education among the large community of individuals and legal persons. Thus, the low level of economic and financial knowledge from society contributed to the amplification of economic crisis. In 2008, in the midst of financial crisis in the European Union was created Expert Group on Financial Education (EGFE, aimed at supporting a new financial education order. Breaking the vicious circle of banks debt and sovereign one, improvement of supervision European banking system, solving the financial problems of some banks through the mechanism of bank resolution, without recourse to public resources, strengthening the trust of potential customers in the financial market, in the first process of finalizing the Union European banking, can be achieved and by a new order of financial education
Full Text Available Technology development has influenced various fields, and financial field is one of them. Applying new technologies in financial field has led to the emergence of a new kind of reporting called Internet Financial Reporting, and is used increasingly day by day due to the increasing use of internet. Adopting this kind of reporting has caused changes in the process of informing stockholders and other users. Since increasing and updating information quality can influence on decision makers to buy/sell their stock certificate, and, on the other hand, the demand for buying and selling stock certificate might influence on stock price, we aimed to evaluate the effect of internet financial reporting on the stock price of listed companies in Tehran Stock Exchange. For this purpose, a group of companies was selected as the experimental group, and some others as the control group. Then, we investigated stock price changes in both groups, and compared changes. The results indicate that internet financial reporting had no effect on the stock price in the investigated companies.
Abhishek P Patel
Full Text Available Vasectomy is a safe and effective method of contraception used by 42-60 million men worldwide. Approximately 3%-6% of men opt for a vasectomy reversal due to the death of a child or divorce and remarriage, change in financial situation, desire for more children within the same marriage, or to alleviate the dreaded postvasectomy pain syndrome. Unlike vasectomy, vasectomy reversal is a much more technically challenging procedure that is performed only by a minority of urologists and places a larger financial strain on the patient since it is usually not covered by insurance. Interest in this procedure has increased since the operating microscope became available in the 1970s, which consequently led to improved patency and pregnancy rates following the procedure. In this clinical update, we discuss patient evaluation, variables that may influence reversal success rates, factors to consider in choosing to perform vasovasostomy versus vasoepididymostomy, and the usefulness of vasectomy reversal to alleviate postvasectomy pain syndrome. We also review the use of robotics for vasectomy reversal and other novel techniques and instrumentation that have emerged in recent years to aid in the success of this surgery.
Full Text Available University students, as a special consumer group, have important effects on leading trend and consumption structure. First of all, poor financial management is the main cause students are facing financial problem. Also, their characteristics of consumption and consumption status also reflect the student’s value orientation. The aim of this study was to investigate how students of private higher education institutions in BiH make purchasing decisions and how they balance small budget with living expenses. The ability to manage finances impacts students both personally and academically. Financial literacy is the ability to understand how money works in the world: how someone manages to earn or make money, how that person manages it, how he/she invests it (turn it into more and how that person donates it to help others. Data for this study were collected by using survey which are delivered to students of International Burch University. Implications provided valuable data for university administrators in management and student affairs, counselors, economic educators, and parents.
Turner, John D.
This essay looks at the bidirectional relationship between financial history and financial economics. It begins by giving a brief history of financial economics by outlining the main topics of interest to financial economists. It then documents and explains the increasing influence of financial economics upon financial history, and warns of the dangers of applying financial economics unthinkingly to the study of financial history. The essay proceeds to highlight the many insights that financi...
Chui, Michelle A
To create, implement, and assess an elective course on the principles and applications of personal finance. A 1.5 unit (15 hours total) elective course was designed using active-learning pedagogy, lecture, and group discussion. Homework assignments were designed to provide practical tools and materials that students could individualize and apply to their personal financial goals. Student satisfaction, using a standard course evaluation form, revealed consistent high ratings. Student enrollment increased from 19 students in its initial year to 90 students in its fourth year. Student knowledge, assessed using the Jump$tart Financial Literacy Survey, indicated significant knowledge acquisition. Many pharmacy students are ill equipped to effectively handle the complex financial decisions they face after graduation. This course provides students with practical tools to identify appropriate ways to achieve their financial goals and critically evaluate financial advice and advisors.
The Canadian Nuclear Safety Commission (CNSC) was established in 2000 under the Nuclear Safety and Control Act (NSCA) to replace the Atomic Energy Control Board (AECB). Prior to the coming in force of the NSCA, financial guarantees associated with licensed activities were not prescribed in the Atomic Energy Control Act or its regulations. Under the NSCA, the Commission Tribunal 'the Commission' was given authority to impose conditions in licences requiring financial guarantees from licensees. Other provisions of the NSCA provided information on the application of financial guarantees and for refunds when decommissioning obligations had been met. Since 2000, the application of financial guarantees has been primarily focussed on licences issued pursuant to the Class I Nuclear Facilities Regulations and the Uranium Mines and Mills Regulations. This was to assure that the requirements for financial guarantees were initially directed at the high risk, complex facilities licensed by the CNSC. However, all licensees have not yet been required to provide a financial guarantee for all licensed facilities, activities or licence types. Additionally, CNSC expectations in relation to when financial guarantees, associated decommissioning plans and cost estimates need to be reviewed, updated and submitted, and what they should entail have been evolving, indicating a need for a clear CNSC policy on the subject. Consequently, the CNSC is proceeding with the development of a financial guarantee policy and implementation plan to assure that generators of nuclear waste will have the financial resources available to decommission nuclear facilities, operations and devices and that this activity will not fall to government as a future liability. This program will require approval by the Commission, planned for 2012. This paper will further describe this policy and its possible outcomes. (author)
Full Text Available The recent financial crises has revealed the need to improve and ensure the stability of the financial sector to reduce negative externalities, to ensure fair and substantial contribution of the financial sector to the public finances and the need to consolidate public finance. All those needs represent substantial arguments for the discussion about the introduction of financial sector taxation. There are discussed in the paper two possible schemes of financial sector taxation – financial transaction tax and financial activities tax. The aim of the paper is to research the possibility of the introduction of financial sector taxation, to discuss the pros and cons of two major candidates on financial sector taxation – financial transaction tax and financial activities tax and to suggest the possible candidate suitable for the implementation on the EU level. Financial transaction tax represents the tool suitable mainly on global level, for only in that case enables generate sufficient financial resources. From EU point of view is considered as less suitable, for it bears the risk of reallocation. Therefore the introduction of financial activities tax on EU level is considered as a better solution for the financial sector taxation in the EU, for financial sector is exempted from value added tax. With respect to the fact, that the implementation would represent the innovative approach to the financial sector taxation, there are no empirical proves and therefore this could be the subject of further research.
Allison, Gregory S.
The 2014 edition of "Financial Accounting for Local and State School Systems" updates the 2009 (see ED505993) and 2003 editions of the handbook. The 2003 edition was the work of the NCES National Forum on Education Statistics, Core Finance Data Task Force. That task force systematically rewrote nearly the entire text, incorporating new…
Gurbel, Paul A; Rafeedheen, Rahil; Tantry, Udaya S
It is well established that high on-treatment platelet reactivity to adenosine diphosphate during clopidogrel therapy is an independent risk factor for ischemic event occurrences in a postpercutaneous coronary intervention patients. However, the precise role of platelet function testing remains debated. Platelet function testing to ensure optimal platelet inhibition has been recommended by some authorities to improve outcomes in patients treated with clopidogrel. Recent prospective, randomized trials of personalized antiplatelet therapy have failed to demonstrate a benefit of platelet function testing in improving outcomes. In this review article, we discuss the mechanisms responsible for clopidogrel nonreponsiveness, recent trials of platelet function testing, and other new developments in the field of personalized antiplatelet therapy. Copyright © 2014 Sociedad Española de Cardiología. Published by Elsevier Espana. All rights reserved.
Dhossche, D M; Shevitz, S A
Personality disorders in medical patients have received less attention than depression, anxiety, or somatization. We conducted a selective literature search to assess the role of personality disorders in medical patients. Review of recent studies suggests a high prevalence and morbidity of personality disorders in medical populations. Important correlates in selected groups are depression, somatization, noncompliance, sexual risk taking, and substance abuse. Difficulties in physician-patient relationships are also frequently reported. Psychiatric interventions are considered beneficial, though no single treatment of choice is available. We recommend that physicians consider the possibility of personality disorders in medical patients to choose appropriate treatments for selected symptoms. Training in interviewing skills may enhance recognition of personality disorders and management of associated psychiatric conditions.
Sharp, Linda; Timmons, Aileen
Cancer may have a significant financial impact on patients, but the characteristics that predispose patients to cancer-related financial hardship are poorly understood. We investigated factors associated with cancer-related financial stress and strain in breast and prostate cancer survivors in Ireland, which has a complex mixed public-private healthcare system. Postal questionnaires were distributed to 1373 people diagnosed with cancer 3-24 months previously identified from the National Cancer Registry Ireland. Outcomes were cancer-related financial stress (impact of cancer diagnosis on household ability to make ends meet) and financial strain (concerns about household financial situation since cancer diagnosis). Modified Poisson regression was used to estimate relative risks (RR) for factors associated with cancer-related financial stress and strain. Seven hundred forty survivors participated (response rate = 54 %). Of the respondents, 48 % reported cancer-related financial stress and 32 % cancer-related financial strain. Compared to those employed at diagnosis, risk of cancer-related financial stress was significantly lower in those not working (RR = 0.71, 95 % CI 0.58-0.86) or retired (RR = 0.48, 95 % CI 0.34-0.68). It was significantly higher in those who had dependents; experienced financial stress pre-diagnosis; had a mortgage/personal loans; had higher direct medical out-of-pocket costs; and had increased household bills post-diagnosis. For cancer-related financial strain, significant associations were found with dependents, pre-diagnosis employment status and pre-diagnosis financial stress; risk was lower in those with higher direct medical out-of-pocket costs. Cancer-related financial stress and strain are common. Pre-diagnosis employment status and financial circumstances are important predictors of post-diagnosis financial wellbeing. These findings could inform development of tools to identify patients/survivors most in need of financial
This report gathers information and comments about the French electric utility EDF, persons in charge of this document, account legal auditors, risk factors, activities in France and abroad, the company's organization and flowchart, its estate properties, its financial situation and results, its accounts and capitals, its research and development activities, patents and licenses, trends, financial perspectives, its administration, management and control bodies and their operation, its salaries, shareholders
and upgrades, or to calculate depreciation . DOD acknowledged that it did not meet U.S. GAAP for the financial reporting of personal property, and...and accounts payable, do not comply with Generally Accepted Accounting Principles ( GAAP ) because they are dependent on the noncompliant legacy...principles generally accepted in the United States of America (U.S. GAAP ) and that DOD financial management and feeder systems were unable to adequately
Hill, Andrew T.; Suiter, Mary C.
In "Proposed National Standards for Financial Literacy: What's In? What's Out?", Maier, Figart, and Nelson pose the question: "How should educators use the standards?" In answering that question, they suggest a number of issues and topics that they believe should be taught along with the "National Standards for…
Bennett Jarred S
Full Text Available Abstract Background Recent research has begun to recognize the important influence of literacy levels and how they affect health and wellbeing, especially in older adults. Our study focuses on health and financial literacy, two domains of literacy which previous research has suggested may be significantly related to health and wellbeing. Our study examines the relation of health and financial literacy with health promoting behaviors and health status among community-based older persons. Methods We conducted a cross-sectional study using data from the Rush Memory and Aging Project, a community-based cohort study of aging in northeastern Illinois. The study consisted of 556 older persons without dementia, each determined by a clinical evaluation. Health and financial literacy were measured using a series of questions designed to assess the ability to understand and process health and financial information, concepts, and numeracy; the two scores were averaged to yield a total literacy score. Health promoting behaviors, including engagement in cognitive, physical, and social activities, were assessed using self report measures. Indicators of heath status, including cognition (global cognition and five specific cognitive abilities, functional status (basic and instrumental activities of daily living, mobility disability, and mental health (depressive symptoms, loneliness were assessed. Results In a series of regression models adjusted for age, sex, and education, higher total literacy scores were associated with more frequent participation in health promoting behaviors, including cognitive, physical and social activities (all p values Conclusions Health and financial literacy are associated with more frequent engagement in health promoting behaviors and better health status in older persons without dementia.
International Monetary Fund; World Bank
The assessment of the current state of the implementation of the Basel Core Principles (BCP) for effective banking supervision in Nigeria, against the BCP methodology issued by the Basel Committee on Banking Supervision (BCBS) in October 2006, was completed between August 27 and September 19, 2012, as part of a Financial Sector Assessment Program (FSAP) update, undertaken jointly by the Fu...
Full Text Available This article starts from the critical review of the concept of financial capital. I consider it is necessary not to confuse this category with of financialization, which has acquired a certificate of naturalization from the rise of neoliberalism. Although financial monopoly-financial capital is the hegemonic segment of the bourgeoisie in the major capitalist countries, their dominance does not imply, a fortiori, financialization of economic activity, since it depends of the conditions of the process reproduction of capital. The emergence of joint stock companies modified the formation of the average rate of profit. The "promoter profit" becomes one of the main forms of income of monopoly-financial capital. It is postulated that financial profit is a kind of "extraordinary surplus-value" which is appropriated by monopoly-financial capital by means of the monopolistic control it exerts on the issue and circulation of fictitious capital.
financial sector represented by banks in this article is so crucial to the Nigerian economy in terms of .... development in the Nigerian banking sector than personalized leadership based on a 'dictatorial' and 'all knowing' Chief. Executive Officer.
Bennett, Jarred S; Boyle, Patricia A; James, Bryan D; Bennett, David A
Recent research has begun to recognize the important influence of literacy levels and how they affect health and wellbeing, especially in older adults. Our study focuses on health and financial literacy, two domains of literacy which previous research has suggested may be significantly related to health and wellbeing. Our study examines the relation of health and financial literacy with health promoting behaviors and health status among community-based older persons. We conducted a cross-sectional study using data from the Rush Memory and Aging Project, a community-based cohort study of aging in northeastern Illinois. The study consisted of 556 older persons without dementia, each determined by a clinical evaluation. Health and financial literacy were measured using a series of questions designed to assess the ability to understand and process health and financial information, concepts, and numeracy; the two scores were averaged to yield a total literacy score. Health promoting behaviors, including engagement in cognitive, physical, and social activities, were assessed using self report measures. Indicators of heath status, including cognition (global cognition and five specific cognitive abilities), functional status (basic and instrumental activities of daily living, mobility disability), and mental health (depressive symptoms, loneliness) were assessed. In a series of regression models adjusted for age, sex, and education, higher total literacy scores were associated with more frequent participation in health promoting behaviors, including cognitive, physical and social activities (all p values literacy scores were associated with higher cognitive function, less disability, and better mental health (all p values Literacy remained associated with health promoting behaviors and health status in fully adjusted models that also controlled for income and the number of chronic medical conditions. Most of the findings were similar for health and financial literacy
Maria Sergeevna Artjukhina
Full Text Available In article ways of self-updating of students are offered it is aware of training in mathema-tics, by means of application of interactive technologies. Self-updating trained during training in mathematics at the higher school it is aimed at the development of integrative qualities of the personality, such as self-development, self-determination, self-checking, development of the creative potential. Mathematical education owing to the features, allows to construct the educational process directed not only on mathematical preparation, but also on self-updating of the identity of the student. The most expedient for a solution of the problem of self-updating of students it is aware of mathematics, fragmentary or complete introduction of interactive training is. Training in active dialogue interaction of all subjects of educational process in the information educational environment. Interactive interaction allows to develop personal and interpersonal skills, abilities to prove decisions, to distribute and carry out certain roles.
Bryce L. Jorgensen
Full Text Available Developing clinical competencies is a foundational feature for most mental health disciplines. Evidence suggests that many couples attending marital therapy regularly report that financial concerns are a significant contributor to their collective distress. Despite the reports of financial distress being a common occurrence, many practitioners are unfamiliar with available resources to remediate the problem. The authors address the concepts of practitioner competence in financial literacy, client financial problems, the benefits of financial literacy, and suggest a referral process, grounded in ethical decision making, that provides appropriate treatment considerations to clients experiencing such distress. The Referral for Financial Concerns Questionnaire (RFCQ and the Personal & Relationship Financial Assessment Tool (PREFAT are introduced. Finally, the authors provide suggestions for professional collaboration between mental health practitioners, financial planners, and financial counselors.
... accounts in U.S. financial institutions. 586.504 Section 586.504 Money and Finance: Treasury Regulations.... financial institutions. Any payment of funds or transfer of credit in which any person whose property and... or control of a U.S. financial institution, must be blocked in an account on the books of that...
... accounts in U.S. financial institutions. 587.504 Section 587.504 Money and Finance: Treasury Regulations.... financial institutions. Any payment of funds or transfer of credit in which a person designated in or... institution, must be blocked in an account on the books of that financial institution. A transfer of funds or...
Bernards, Arnold T. M.; Berghmans, Bary C. M.; Slieker-ten Hove, Marijke C. Ph.; Staal, J. Bart; de Bie, Rob A.; Hendriks, Erik J. M.
textabstractIntroduction and hypothesis: Stress urinary incontinence (SUI) is the most common form of incontinence impacting on quality of life (QOL) and is associated with high financial, social, and emotional costs. The purpose of this study was to provide an update existing Dutch evidence-based clinical practice guidelines (CPGs) for physiotherapy management of patients with stress urinary incontinence (SUI) in order to support physiotherapists in decision making and improving efficacy and...
Full Text Available Compulsive hoarders feel emotional attachments to their money and possessions, making it difficult for them to spend or discard accumulated items. Traditionally, hoarding has been seen as a symptom of Obsessive Compulsive Disorder (OCD or Obsessive Compulsive Personality Disorder (OCPD. However, hoarding behavior can be a problem in its own right, without someone meeting the diagnostic criteria for OCD or OCPD. Despite being a mental health disorder that poses a serious public health problem, social costs to the public, and strain on families, there is little empirical work that has examined Hoarding Disorder (HD from a financial perspective. As with other money disorders, for the compulsive hoarder, financial health and mental health symptoms are intertwined. This paper explores the financial psychology of HD and its implications for personal financial planning.
Tertzakian, P.; Baynton, K.
This report presents an independent assessment of profitability in the upstream Canadian petroleum industry. The upstream sector includes exploration and production of oil and gas reserves. This report offers a historical and a forward looking perspective on the financial performance of the industry in 2001. The performance of the industry is compared with other industries in Canada and around the world. The report is divided into the following 4 sections: (1) how capital flows in the Canadian upstream oil and gas economy, (2) the analysis of sector profitability based on the efficiency of capital flow in section 1, (3) how the profitability of the Canadian upstream oil and gas sector stands up compared to other industries, and (4) appendices and other supplementary information. It was noted that as geologic basins are developed, non-renewable resources continue to become more capital intense, a phenomenon that is very evident in the Western Canada Sedimentary Basin. The industry must provide financial incentives for investors to participate in exploration and development. The return on capital must exceed the cost of capital in order to maintain that incentive. The principal findings of this report include: (1) a higher than average uncertainty and volatility expected in 2003, (2) operating costs vary with production, but finding and developing costs are still increasing, (3) declining conventional reserves, (4) growing non-conventional expenditures, (5) current taxes cut into margins, (6) cost of capital only achievable with firm commodity prices, (7) in comparison to other industries, years 2000 and 2001 are exceptional for the industry with high commodity prices catalyzing returns greater than other countries. tabs., figs
This semestral financial report contains statements on the objectives, prospects and growth opportunities for the AREVA group. After a presentation of the person responsible for this report, the document presents significant events, summary data (financial indicators and their definitions), a summary of data by division, the backlog, the income statement (revenue, gross margin, research and development, and so on), the cash flow assessment, the balance sheet items, a review of the business groups (mining and front end, reactors and services, back end, renewable energies, corporate and other). This document contains its English version and its French version
Shawwa, Khaled; Kallas, Romy; Koujanian, Serge; Agarwal, Arnav; Neumann, Ignacio; Alexander, Paul; Tikkinen, Kari A. O.; Guyatt, Gordon; Akl, Elie A.
Importance It is unclear how medical journals address authors’ financial and non-financial conflict of interest (COI). Objective To assess the policies of clinical journals for disclosure of financial and non-financial COI. Methods Cross sectional study that included both review of public documents as well as a simulation of a manuscript submission for the National Library of Medicine’s “core clinical journals”. The study did not involve human subjects. Investigators who abstracted the data, reviewed “instructions for authors” on the journal website and, in order to reflect the actual implementation of the COI disclosure policy, simulated the submission of a manuscript. Two individuals working in duplicate and independently to abstract information using a standardized data abstraction form, resolved disagreements by discussion or with the help of a third person. Results All but one of 117 core clinical journals had a COI policy. All journals required disclosure of financial COI pertaining to the authors and a minority (35%) asked for financial COI disclosure pertaining to the family members or authors' institution (29%). Over half required the disclosure of at least one form of non-financial COI (57%), out of which only two (3%) specifically referred to intellectual COI. Small minorities of journals (17% and 24% respectively) described a potential impact of disclosed COI and of non-disclosure of COI on the editorial process. Conclusion While financial COI disclosure was well defined by the majority of the journals, many did not have clear policies on disclosure of non-financial COI, disclosure of financial COI of family members and institutions of the authors, and effect of disclosed COI or non-disclosure of COI on editorial policies. PMID:27030966
Shawwa, Khaled; Kallas, Romy; Koujanian, Serge; Agarwal, Arnav; Neumann, Ignacio; Alexander, Paul; Tikkinen, Kari A O; Guyatt, Gordon; Akl, Elie A
It is unclear how medical journals address authors' financial and non-financial conflict of interest (COI). To assess the policies of clinical journals for disclosure of financial and non-financial COI. Cross sectional study that included both review of public documents as well as a simulation of a manuscript submission for the National Library of Medicine's "core clinical journals". The study did not involve human subjects. Investigators who abstracted the data, reviewed "instructions for authors" on the journal website and, in order to reflect the actual implementation of the COI disclosure policy, simulated the submission of a manuscript. Two individuals working in duplicate and independently to abstract information using a standardized data abstraction form, resolved disagreements by discussion or with the help of a third person. All but one of 117 core clinical journals had a COI policy. All journals required disclosure of financial COI pertaining to the authors and a minority (35%) asked for financial COI disclosure pertaining to the family members or authors' institution (29%). Over half required the disclosure of at least one form of non-financial COI (57%), out of which only two (3%) specifically referred to intellectual COI. Small minorities of journals (17% and 24% respectively) described a potential impact of disclosed COI and of non-disclosure of COI on the editorial process. While financial COI disclosure was well defined by the majority of the journals, many did not have clear policies on disclosure of non-financial COI, disclosure of financial COI of family members and institutions of the authors, and effect of disclosed COI or non-disclosure of COI on editorial policies.
Mocellin, Ramon; Scholes, Amelia; Walterfang, Mark; Looi, Jeffrey C L; Velakoulis, Dennis
To provide a clinical update for general psychiatrists on frontotemporal dementias (FTDs) using a selective narrative review of recent findings and advances in conceptualising, diagnosing and treating FTD. General psychiatrists can apply their skills to support patients, carers, GPs and allied health workers in comprehensive care of persons with FTD. © The Royal Australian and New Zealand College of Psychiatrists 2015.
by entrepreneurs during operations affectthe survival of their firms. Variation in personal wealth and debt financing stem fromthe solvency of retail banking institutions following the 2007-2009 financial crisis. Ifind that retail bank disruptions reduce personal borrowing and increase the rate offirm exit...
This article will discuss the Diagnostic and Statistical Manual of Mental Disorders (DSM) 5 proposal for narcissistic personality disorder (NPD), and highlight some of the advantages of introducing a dual diagnostic approach that includes a dimensional conceptualization for identifying and diagnosing pathological narcissism and NPD, in addition to specific traits. Reviews and studies have specifically highlighted how people with NPD behave and are observed by others, and the negative consequences of their behavior. Accounts on the subjective perspectives of pathological narcissism stem foremost from psychoanalytic and psychodynamic accounts, but they have remained relatively separated from diagnostic and empirical studies. The new diagnostic approach to NPD can encourage a better integration of the clinicians' observations of indicators of pathological narcissism from an external perspective and the patients' formulations of their own subjective experiences and understanding of their problems.
William B DeHart
Full Text Available Delay discounting, as a behavioral measure of impulsive choice, is strongly related to substance abuse and other risky behaviors. Therefore, effective techniques that alter delay discounting are of great interest. We explored the ability of a semester long financial education course to change delay discounting. Participants were recruited from a financial education course (n = 237 and an abnormal psychology course (n = 80. Both groups completed a delay-discounting task for $100 during the first two weeks (Time 1 of the semester as well as during the last two weeks (Time 2 of the semester. Participants also completed a personality inventory and financial risk tolerance scale both times and a delay-discounting task for $1,000 during Time 2. Delay discounting decreased in the financial education group at the end of the semester whereas there was no change in delay discounting in the abnormal psychology group. Financial education may be an effective method for reducing delay discounting.
DeHart, William B; Friedel, Jonathan E; Lown, Jean M; Odum, Amy L
Delay discounting, as a behavioral measure of impulsive choice, is strongly related to substance abuse and other risky behaviors. Therefore, effective techniques that alter delay discounting are of great interest. We explored the ability of a semester long financial education course to change delay discounting. Participants were recruited from a financial education course (n = 237) and an abnormal psychology course (n = 80). Both groups completed a delay-discounting task for $100 during the first two weeks (Time 1) of the semester as well as during the last two weeks (Time 2) of the semester. Participants also completed a personality inventory and financial risk tolerance scale both times and a delay-discounting task for $1,000 during Time 2. Delay discounting decreased in the financial education group at the end of the semester whereas there was no change in delay discounting in the abnormal psychology group. Financial education may be an effective method for reducing delay discounting.
Full Text Available The article aims to study methods and tools for financial monitoring by banks. It is proved that one of the main global financial problems in recent years is increasing number of cases of banks participating in the money laundering. It causes banks huge losses, undermines the credibility of honest depositors, in addition, circulation of funds like these hurts the national economy. The article is to develop recommendations to improve the effectiveness of financial monitoring in banks. It is proved that the current model of the national financial monitoring system includes the following elements: the purpose of macroeconomic and microeconomic levels; principles; function; facilities; subjects; types of financial monitoring; methods of implementation and regulatory prevue regulation. It is proved that the major problems related to the financial monitoring of banks are the following: lack of legislatively established quality requirements of customer information; persons engaged in legalization of illegal incomes are highly qualified, which greatly facilitates them through the bank of suspicious transactions; the process of settlement bank failure in the conduct of questionable transactions. Keywords: financial monitoring, suspicious transactions, bank, money laundering, financing of terrorism.
Mumps, an acute vaccine-preventable viral illness transmitted by respiratory droplets and saliva, has an incubation period most commonly of 16-18 days. The classic clinical presentation of mumps is parotitis, which can be preceded by several days of nonspecific prodromal symptoms; however, mumps also can be asymptomatic, especially in young children. Mumps transmission can occur from persons with subclinical or clinical infections and during the prodromal or symptomatic phases of illness. In 2006, during a mumps resurgence in the United States, the latest national recommendations from CDC and the American Academy of Pediatrics (AAP) stipulated that persons with mumps be maintained in isolation with standard precautions and droplet precautions for 9 days after onset of parotitis. However, the existence of conflicting guidance (i.e., that the infectious period of mumps extended through the fourth day after parotitis onset) led to confusion regarding the appropriate length of isolation. In addition, during the 2006 resurgence, compliance with recommendations for isolation in university settings was substantially lower for 9 days (65%) compared with 4-5 days (86%). In 2007, after a review of the evidence supporting the 9-day isolation guidance by AAP and CDC, AAP changed its isolation guidance for health-care workers in ambulatory settings from 9 days to 5 days. In February 2008, after review of data on mumps in health-care settings, mumps viral load, and mumps virus isolation, the Healthcare Infection Control Practices Advisory Committee (HICPAC) approved changes in its recommendations related to mumps in in-patient settings. As a result, CDC, AAP, and HICPAC all now recommend a 5-day period after onset of parotitis, both for isolation of persons with mumps in either community or health-care settings and for use of standard precautions and droplet precautions. This report summarizes the scientific basis for these changes in mumps isolation guidance.
Full Text Available In the existing literature on innovation, financial services firms are attributed with a dependence on external knowledge inputs. Meanwhile, relative importance of sources of knowledge for innovation, modes of knowledge inflow, cooperation partners, advantages and disadvantages of cooperation for innovation remain underexplored. This study has unveiled that the most important internal sources of knowledge for innovation in financial services are frontline employees, new service development teams, bank executives, and backstage staff. Highly valuable modes of knowledge inflow for innovation are human resource development, purchase of equipment, and informal personal interactions. Financial services firms benefit from cooperation for innovation with external partners in the following aspects: increase in customer satisfaction, developed new skills of employees, new technologies, access to knowledge and expertise, decreased costs, and finding a new approach to solve a problem. Costs associated with external cooperation for innovation remain the most influential disadvantage of this mode of inbound open innovation.
... authority for digital signatures and authenticating the identity of persons conducting financial and... such products or services; or (2) A government or government agency that provides information concerning the services or benefits made available by the government or government agency, assists persons in...
Full Text Available The article undertakes the question of application of International Financial Reporting Standard (IFRS 9 Financial Instruments in the context of the possible use of its provisions to achieve the expected results in financial reporting. The aim of the article is to present the selected areas of accounting for financial instruments that can be used to shape the financial results (earnings management and the financial posi-tion of an entity in the context of the first-time application of this regulation. The article uses the method of critical analysis, deductive reasoning and case study. For the purposes of the article and the case study, unstructured interviews were conducted with two persons holding managerial positions in a financial institution in Poland and the simulations made by them were analysed.
... planning; decision making; designing, ordering or transporting goods; and financial, insurance, and other... pursuant to this part. (d) No U.S. person may refer to a foreign person purchase orders, requests for bids...
Ahmad, Fahd A; White, Andrew J; Hiller, Katherine M; Amini, Richard; Jeffe, Donna B
This study aimed to assess residents' and fellows' knowledge of finance principles that may affect their personal financial health. A cross-sectional, anonymous, web-based survey was administered to a convenience sample of residents and fellows at two academic medical centers. Respondents answered 20 questions on personal finance and 28 questions about their own financial planning, attitudes, and debt. Questions regarding satisfaction with one's financial condition and investment-risk tolerance used a 10-point Likert scale (1=lowest, 10=highest). Of 2,010 trainees, 422 (21%) responded (median age 30 years; interquartile range, 28-33). The mean quiz score was 52.0% (SD = 19.1). Of 299 (71%) respondents with student loan debt, 144 (48%) owed over $200,000. Many respondents had other debt, including 86 (21%) with credit card debt. Of 262 respondents with retirement savings, 142 (52%) had saved less than $25,000. Respondents' mean satisfaction with their current personal financial condition was 4.8 (SD = 2.5) and investment-risk tolerance was 5.3 (SD = 2.3). Indebted trainees reported lower satisfaction than trainees without debt (4.4 vs. 6.2, F (1,419) = 41.57, p < .001). Knowledge was moderately correlated with investment-risk tolerance (r=0.41, p < .001), and weakly correlated with satisfaction with financial status (r=0.23, p < .001). Residents and fellows had low financial literacy and investment-risk tolerance, high debt, and deficits in their financial preparedness. Adding personal financial education to the medical education curriculum would benefit trainees. Providing education in areas such as budgeting, estate planning, investment strategies, and retirement planning early in training can offer significant long-term benefits.
Full Text Available This paper presents the importance of the financial audit, the necessity of improving the organizational framework and of achieving the financial audit missions, respectively extent to which the financial statements of the Romanian economic entities meet the international and European requirements in the field. This paper presents the influence that financial audit seems to have in a long period of time upon the financial reporting in certain economic environments. A questionnaire based on four questions has been used, its outcomes being analyzed and its conclusions laid at the foundation of our entire scientific research. The research was based on the information gathered from financial auditors - natural and legal persons - and from economic entities that are obliged or not to audit their financial statements concerning the way a financial audit mission is developing, with respect to the European and international requirements and the International Financial Audit Standards implementation in Romania. The paper ends up with authors’ conclusions concerning the challenges the business environment is confronted to, these being directly reflected in the efforts the financial auditors must do in order to assess the impact on the financial statements and on the financial performance of an economic entity submitted to audit.
Andrade, Ronaldo Barata de
This paper presents an updated economic-financial evaluation of Angra 3 Nuclear Power Plant project and estimates the lowest power tariff value at which power potentially made available may be commercialized and yet ensures the project a profitability level agreeable to the interests of economic agents and shareholders. According to the project evaluation practice, Angra 3 power generation was considered separately from ELETRONUCLEAR operating plants (Angra 1 and Angra 2), thus preventing result distortions bound to occur if the economic-financial variables of the new project were analyzed associated with financial commitments and commercialization conditions resulting from the project implementation process and the generated power commercialization conditions, respectively. For this evaluation different technical and economic scenarios were devised, and the theory of Capital Asset Pricing Model (CAPM) for Own Capital cost and that of Weighted Average Cost of Capital (WACC) were used in addition to the forecast of the Statement of Results and Free Cash flow of Shareholders throughout the power plant life, which is the estimate basis for the lowest power tariff value and the Internal Return Rate (IRR) of the project. (author)
Valachis, Antonis; Polyzos, Nikolaos P; Nearchou, Andreas; Lind, Pehr; Mauri, Davide
A potential financial relationship between investigators and pharmaceutical manufacturers has been associated with an increased likelihood of reporting favorable conclusions about a sponsor's proprietary agent in pharmacoeconomic studies. The purpose of this study is to investigate whether there is an association between financial relationships and outcome in economic analyses of new targeted therapies in oncology. We searched PubMed (last update June 2011) for economic analyses of targeted therapies (including monoclonal antibodies, tyrosine-kinase inhibitors, and mammalian target of rapamycin inhibitors) in oncology. The trials were qualitatively rated regarding the cost assessment as favorable, neutral, or unfavorable on the basis of prespecified criteria. Overall, 81 eligible studies were identified. Economic analyses that were funded by pharmaceutical companies were more likely to report favorable qualitative cost estimates (28 [82%] of 34 v 21 [45%] of 47; P = .003). The presence of an author affiliated with manufacturer was not associated with study outcome. Furthermore, if only studies including a conflict of interest statement were included (66 of 81), studies that reported any financial relationship with manufacturers (author affiliation and/or funding and/or other financial relationship) were more likely to report favorable results of targeted therapies compared with studies without financial relationship (32 [71%] of 45 v nine [43%] of 21; P = .025). Our study reveals a potential threat for industry-related bias in economic analyses of targeted therapies in oncology in favor of analyses with financial relationships between authors and manufacturers. A more balanced funding of economic analyses from other sources may allow greater confidence in the interpretation of their results.
... information to market to me.'' A financial institution that chooses to offer an opt-out for joint marketing... institutions to jointly market to me.'' (h) Barcodes. A financial institution may elect to include a barcode...: ``[name of financial institution] doesn't jointly market''; or (ii) If it shares personal information for...
...-02] Announcing Draft Federal Information Processing Standard (FIPS) 201-2, Personal Identity..., ``Personal Identity Verification of Federal Employees and Contractors Standard.'' Draft FIPS 201-2 amends... Issuing Personal Identity Verification Cards under HSPD-12.'' The purpose of this change is to update the...
A conflict of interests occurs when a doctor is unduly influenced by a secondary interest (i.e., a personal incentive) in his acts concerning one of the primary interests to which he is professionally committed (the welfare of patients, the progress of science, or the education of students or residents). One specific variety of conflicts of interests has monopolized the attention of the scientific and lay press: the financial conflicts of interests arising from the relationships between doctors and drug companies. A large literature has described the many, sometimes subtle, ways by which a psychiatrist can be influenced in his prescribing habits or research activities by his relationships with the industry. Some empirical evidence is now available in this area. On the other hand, it has been pointed out that the current debate on this issue is sometimes "affectively charged" or fails to take into account that the interests of patients, families and mental health professionals and those of the industry may be often convergent. Other types of conflicts of interests are beginning now to be discussed. There is evidence that the allegiance of a researcher to a given school of thought may influence the results of studies comparing different psychotherapeutic techniques, thus colliding with the primary interest represented by the progress of science. Political commitment is also emerging as a source of conflicts of interests. Financial and non-financial conflicts of interests are widespread in psychiatric practice and research. They cannot be eradicated, but must be managed more effectively than is currently the case.
Full Text Available
This paper provides an empirical analysis of the role of financial development and financial integration in the growth dynamics of transition countries. We focus on the role of financial integration in determining the impact of financial development on growth, distinguishing “normal times” from periods of financial crises. In addition to confirming the significant positive effect on growth exerted by financial development and financial integration, our estimates show that a higher degree of financial openness tends to reduce the contractionary effect of financial crises, by cushioning the effect on the domestic supply of credit. Consequently, the high reliance on international capital flows by transition countries does not necessarily increase their financial fragility. This implies that financial protectionism is a self-defeating policy, at least for transition countries.
... Technology (PPT) Program; Framework Document for the Healthcare Worker Personal Protective Equipment Action... titled ``Framework for Setting the NIOSH PPT Program Action Plan for Healthcare Worker Personal... NIOSH personal protective technology (PPT) program publishes and periodically updates its research...
Full Text Available Both testosterone and cortisol have major actions on financial decision-making closely related to their primary biological functions, reproductive success and response to stress, respectively. Financial risk-taking represents a particular example of strategic decisions made in the context of choice under conditions of uncertainty. Such decisions have multiple components, and this article considers how much we know of how either hormone affects risk-appetite, reward value, information processing and estimation of the costs and benefits of potential success or failure, both personal and social. It also considers how far we can map these actions on neural mechanisms underlying risk appetite and decision-making, with particular reference to areas of the brain concerned in either cognitive or emotional functions.
Wilson, Robert S; Yu, Lei; James, Bryan D; Bennett, David A; Boyle, Patricia A
We tested the hypothesis that higher financial and health literacy is associated with better cognitive health in 755 older persons who completed a literacy measure (M = 67.9, SD = 14.5) and then had annual clinical evaluations for a mean of 3.4 years. In proportional hazards models, higher literacy was associated with decreased risk of developing incident Alzheimer's disease (n = 68) and results were similar for financial and health literacy subscales and after adjustment for potential confounders. In mixed-effects models, higher literacy was related to higher baseline level of cognition and reduced cognitive decline in multiple domains. Among the 602 persons without any cognitive impairment at baseline, higher literacy was associated with a reduced rate of cognitive decline and risk of developing incident mild cognitive impairment (n = 142). The results suggest that higher levels of financial and health literacy are associated with maintenance of cognitive health in old age.
Bar-Or, Yuval D; Fessler, Henry E; Desai, Dipan A; Zakaria, Sammy
Many residents and fellows complete graduate medical education having received minimal unbiased financial planning guidance. This places them at risk of making ill-informed financial decisions, which may lead to significant harm to them and their families. Therefore, we sought to provide fellows with comprehensive unbiased financial education and empower them to make timely, constructive financial decisions. A self-selected cohort of cardiovascular disease, pulmonary and critical care, and infectious disease fellows (n = 18) at a single institution attended a live, eight-hour interactive course on personal finance. The course consisted of four two-hour sessions delivered over four weeks, facilitated by an unbiased business school faculty member with expertise in personal finance. Prior to the course, all participants completed a demographic survey. After course completion, participants were offered an exit survey evaluating the course, which also asked respondents for any tangible financial decisions made as a result of the course learning. Results: Participants included 12 women and six men, with a mean age of 33 and varying amounts of debt and financial assets. Twelve respondents completed the exit survey, and all "Strongly Agreed" that courses on financial literacy are important for trainees. In addition, 11 reported that the course helped them make important financial decisions, providing 21 examples. Fellows derive a significant benefit from objective financial literacy education. Graduate medical education programs should offer comprehensive financial literacy education to all graduating trainees, and that education should be provided by an unbiased expert who has no incentive to sell financial products and services.
Full Text Available Aim of the article is to study and generalize scientific approaches to the determination of essence, content and components of financial resources of local authorities. The methodology is the use of various general scientific and special methods of research. So, during the study the following methods were used: dialectic method, with the help of which the essence of financial resources of local authorities was determined; methods of comparative analysis of scientific thoughts about the category “financial resources”, “financial resources of local authorities”; systematization of main characteristics of financial resources at the level of state and local authorities; structuralfunctional method in order to classify financial resources. Study results are represented by determination of economic essence of financial resources, their main features, and it is proposed an improvement of the concept “financial resources”, “financial resources of local authorities”. Financial resources are an aggregate of resources (monetary and non-monetary, which are creating and forming owning to distribution and redistribution of gross domestic product by economic entities, households, state and local authorities and are in fund and non-fund form with the aim to ensure their purposeful productive use for the benefit of natural and legal persons as well as society in general. Thus, the financial resources of local authorities – are an aggregate of monetary resources created as a result of the distribution and redistribution of the gross domestic product (some of which are in the appropriate funds, required by local authorities to perform their functions and tasks in order to ensure economic and sociocultural development of the local community. Taking into attention the features of functioning of the main subjects of local finance for thorough study of the essence of local authorities’ financial resources, their main components are considered
Full Text Available Financial resources of the village that are sourced from a country or a Regional Finance Financial based Law Number 6 Year 2014 of The Village is the mandate of the law that must be allocated to the village. The interconnectedness of the financial position of the village in the financial system of the country or Region concerned the Financial administrative and territorial relations, and there is no setting directly regarding the finances of the village as part of the financial system of the country or the financial area. In respect of the elements of the crime of corruption deeds against financial irregularities of the village there are still disagreements on the interpretation of the law in trapping the perpetrators of corruption on the village chief that implies not satisfy the principle of legality and legal certainty in the ruling of the matter of financial irregularities. In fact, many of the village chief or Councilor caught the criminal offence of corruption over the use of financial irregularities. This research analyzes How the financial position of the village in the financial system of the country or region, as well as whether the financial resources of the village is derived from the state budget or region budget managed in village budget belongs to the category of village finances and whether tort against the financial management of the village can be categorized as a criminal act corruption. How To Cite: Purnomo, H. (2015. Financial Village Standing in Indonesian Financial System. Rechtsidee, 2(2, 121-140. doi:http://dx.doi.org/10.21070/jihr.v2i2.81
International Monetary Fund
This technical note focuses on the International Organization of Securities Commissions objectives and principles of securities regulations of Austria. The 2003 assessment found that Austria had fully broadly implemented a large majority of principles. The human resources of the Securities Supervision Department of the Financial Market Authority (FMA) should be increased, especially to conduct on-site inspections, in addition to the 14 planned appointments. Administrative fines should be rais...
Henning, Mary Beth; Lucey, Thomas A.
The authors conducted an online survey of elementary teacher education programs within a large midwestern state to assess preservice teachers' and teacher educators' beliefs about and preparedness to teach financial literacy. Very few preservice teachers had meaningful experiences with personal finance in high school, college, or personal decision…
The ability to manage financial affairs is a life skill of critical importance, and neuropsychologists are increasingly asked to assess financial capacity across a variety of settings. Sound clinical assessment of financial capacity requires knowledge and appreciation of applicable clinical conceptual models and principles. However, the literature has presented relatively little conceptual guidance for clinicians concerning financial capacity and its assessment. This article seeks to address this gap. The article presents six clinical models of financial capacity : (1) the early gerontological IADL model of Lawton, (2) the clinical skills model and (3) related cognitive psychological model developed by Marson and colleagues, (4) a financial decision-making model adapting earlier decisional capacity work of Appelbaum and Grisso, (5) a person-centered model of financial decision-making developed by Lichtenberg and colleagues, and (6) a recent model of financial capacity in the real world developed through the Institute of Medicine. Accompanying presentation of the models is discussion of conceptual and practical perspectives they represent for clinician assessment. Based on the models, the article concludes by presenting a series of conceptually oriented guidelines for clinical assessment of financial capacity. In summary, sound assessment of financial capacity requires knowledge and appreciation of clinical conceptual models and principles. Awareness of such models, principles and guidelines will strengthen and advance clinical assessment of financial capacity. © The Author 2016. Published by Oxford University Press. All rights reserved. For permissions, please e-mail: firstname.lastname@example.org.
... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Credit extended and cards issued by U... SANCTIONS REGULATIONS Interpretations § 546.409 Credit extended and cards issued by U.S. financial..., charge cards, debit cards, or other credit facilities issued by a U.S. financial institution to a person...
... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Credit extended and cards issued by U... SANCTIONS REGULATIONS Interpretations § 548.409 Credit extended and cards issued by U.S. financial..., charge cards, debit cards, or other credit facilities issued by a U.S. financial institution to a person...
... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Credit extended and cards issued by U... SANCTIONS REGULATIONS Interpretations § 542.409 Credit extended and cards issued by U.S. financial..., charge cards, debit cards, or other credit facilities issued by a U.S. financial institution to a person...
State of Hawaii Department of Education, 2005
This annual financial report of the Department of Education is prepared each year to inform interested persons of the total cost of public education in the state of Hawaii. The financial report provides both Operating and Capital Improvement Project fund information that is useful in presenting our educational system financing, expenditures and…
West, Joyce C; Pingitore, David; Zarin, Deborah A
This study assessed characteristics of psychiatric patients for whom financial considerations affected the provision of "optimal" treatment. Psychiatrists reported that for 33.8 percent of 1,228 patients from a national sample, financial considerations such as managed care limitations, the patient's personal finances, and limitations inherent in the public care system adversely affected the provision of optimal treatment. Patients were more likely to have their treatment adversely affected by financial considerations if they were more severely ill, had more than one behavioral health disorder or a psychosocial problem, or were receiving treatment under managed care arrangements. Patients for whom financial considerations affect the provision of optimal treatment represent a population for whom access to treatment may be particularly important.
Full Text Available There is a positive relationship between financial development and economic growth in short-run and long-run. Financial development is beneficial to the reduction of poverty. But the financial instability which accompanies financial development is is costly for the poor and reduces the positive effect of financial development on the reduction of poverty. The paper aims to analyze in detail the relationship and the (direct and indirect effects between these variables, taking into account their economic and social importance. It is also highlighted the correlation between the financial economy and the real economy, emphasizing the impact on social welfare involved by the interaction of the above mentioned variables.
Hubbard, Edward; Matthews, Percival; Samek, Anya
The widespread use of personal computing presents the opportunity to design educational materials that can be delivered online, potentially addressing low financial literacy. The authors developed and evaluated three different educational tools focusing on interest compounding. In the authors' laboratory experiment, individuals were randomized to…
Sayinzoga, Aussi; Bulte, Erwin H.; Lensink, Robert
We organise a field experiment with smallholder farmers in Rwanda to measure the impact of financial literacy training on financial knowledge and behaviour. The training increased financial literacy of participants, changed their savings and borrowing behaviour and had a positive effect on the
... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Credit extended and cards issued by U... ZIMBABWE SANCTIONS REGULATIONS Interpretations § 541.408 Credit extended and cards issued by U.S. financial..., charge cards, debit cards, or other credit facilities issued by a U.S. financial institution to a person...
... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Credit extended and cards issued by U...'IVOIRE SANCTIONS REGULATIONS Interpretations § 543.409 Credit extended and cards issued by U.S. financial..., charge cards, debit cards, or other credit facilities issued by a U.S. financial institution to a person...
Jesus P. Briones
Full Text Available The purpose of this research is to evaluate the extent of internet financial reporting (IFR of Philippine banks. Used as samples were top commercial banks and thrift banks operating in the country considering their total assets as of March, 2012 as published by the Bangko Sentral ng Pilipinas in its website. Financial information in the websites of the sampled banks were evaluated during the third quarter of 2012. The study revealed that the quality and extent of IFR of Philippine commercial banks is “average” based on their IFR index score of 44.50 while thrift banks posted a below average IFR index score of 21.56 resulting to a highly significant difference between bank types. Among the four evaluation criteria used, the subject-banks’ content disclosure provides the highest percentage contribution to their IFR index scores as this is the main focus of their financial reporting. Among the components of content disclosure, corporate information, chairman’s report and the auditor’s report emerged as the top three often included in the financial disclosure of the subject-banks while vision statement and press release are the components often updated by both bank types in their websites with the commercial banks notably updating more frequently compared to thrift banks. Relative to technology, online feedback is the most common component in the banks’ website while link to homepage is the most usual user support feature relative to the bank’s financial reporting practice. Lastly, asset size and bank type were found to have a high significant relationship with the extent
Full Text Available This study is intended to analyze the current levels of financial depth and financial access in Indonesia and to analyze the factors affecting them. The analysis method used was a combination of descriptive quantitative, benchmarking, and literature reviews. The conclusion is that the financial depth in Indonesia has not shown a satisfactory level since it was the lowest, or the second lowest ranked country among the sampled countries. Meanwhile, the financial access in Indonesia is relatively better than its financial depth, especially for financial markets, in which Indonesia ranks in the lower average group. From literature reviews, it can be inferred that the main factor driving the poor financial depth in Indonesia is non-competitiveness of the institutions; whereas the driving force of poor financial access in Indonesia are geographical constraints, poverty, a high income gap, and a less than effective national financial development policy.
Financial Intelligence is one of the five components of a twenty first century education, the ..... business by taking full responsibility for and becoming the Chief. Executive Officers (CEO) of their own lives, key into personal/self development or ...
In the later years an increasing number of listed companies have engaged in distributing voluntary financial information through the Internet. The corporate websites provide shareholders, professional analysts, journalists and other interested parties an access to financial information relating...... confirms that investors and other Internet-surfers have access to more than half the listed companies through the Internet, i.e. 55,8%. As noted in previous studies, belonging to the group of most traded companies usually sets a standard for reporting. However, the reporting behavior among the less traded...... undue advantages for individual investors. The opportunity for giving access to continuous updated information is available and often a highly promoted feature of the Internet-technology. However, in light of existing accounting regulations, the existing reporting behavior through the Internet seems...
Full Text Available The financial market is one of the elements of the market-oriented economy. The financial analysis is a fundamental element of the financial controlling business. The purpose of this article is to inform briefly about horizontal and vertical financial statements analysis as the source of competitive advantage of the firm. The article is divided into two parts. First describes financial analysis and financial statements generally. Second, it presents a practical contribution of the horizontal and vertical financial statements analysis at the controlled businesses as financial management tools, which identify the financial position, market behaviour, correlations between the net profit and the prohibitively cost and operating profit, the financial activities profit, the income tax etc.Business, which the analysed firm operates in asks a provable claim on the high value of fixed assets. The capital composition of the firm is call to typify for the state-owned enterprise that was transformed to private joint-stock companies. Analysis is specially pleading for the needs considering the price of the borrowed capital in the capital structure rating. Fault factor ø value talks about needs for the cost regulation. Stair-step conception used for counting of the net profit in the accountant period indicates the financial profit, alternatively loss, as the distinguished pre-tax profit element. Picture about firms financial results can be completed with the information about the income tax value. Form of financial analyses presented in the article entablature the accents on the necessity to compare several accounting period and on the necessity of complex understanding of statements accounting slide en bloc.Financial analyse makes the decision makers possible to screen potential partners before the cooperation starts. On the other side, it makes a possibility to influence the production process, sales and financial management during the accounting
... Products For Consumers Home For Consumers Consumer Updates Hearing Aids and Personal Sound Amplifiers: Know the Difference ... that FDA launched today. Signs of Loss of Hearing Mann says that consumers who suspect they suffer ...
Carter, E. Vincent; Donohue, Mary
This study introduces a collaborative business education curricular design known as "whole person learning." The post-financial crisis market environment requires business education to encompass curricular, commercial and community skills. Drawing on the Toronto based National Mentoring Program (NMP), "whole person learning"…
Paul Mupfiga; Tafadzwa Padare
The emergence of technology has revolted the way that the financial industry operates and the increasing use of mobile gadgets has changed the banking system from the traditional brick and mortar building to a virtual system. The sudden rise in use and innovation of smart mobile phones, mobile personal computers, tablets and various other mobile electronic gadgets has resulted in the rise of mobile financial products. Rapid quickening innovative headways are making completely new business sug...
C. Bradler (Christiane); S. Neckermann (Susanne)
textabstractThis paper makes use of two field experiments to explore individual effort responses to gifts. We extend the literature by looking at non-financial gifts and gifts that combine financial and non-financial elements with or without adding a “personal touch.” We find that non-pecuniary
The lecture will introduce new functions and graphic design WebSOD - web interface Personal dosimetry Service VF. a.s. which will be updated in November 2014. The new interface will have a new graphic design, intuitive control system and will be providing a range of new functions: - Personal doses - display of personal doses from personal, extremity and neutron dosimeters including graphs, annual and electronic listings of doses; - Collective doses - display of group doses for selected periods of time; Reference levels - setting and display of three reference levels; - Evidence - enables administration of monitored individuals - beginning, ending of monitoring, or editing the data of monitored persons and centers. (author)
Russell, Katherine; Stramoski, Sandra
The purpose of this study was to determine the financial management goals and practices of registered dental hygienists, their satisfaction with their current financial situations and their attitudes about savings, investments and retirement. A 40 question electronic survey was completed by 388 registered dental hygienists. The descriptive instrument assessed financial practices, attitudes, goals and beliefs, retirement mindset, savings habits, debt tendencies and demographic characteristics of respondents. Statistical analyses compared respondents' beliefs about their financial independence and security with their current financial practices. Analyses included: independent samples t-tests, chi-square analysis and ANOVA. Most dental hygienists believed themselves to be financially independent and reported satisfaction with their current financial situation. Significant relationships existed between respondents' satisfaction with their current financial situations and their financial attitudes and practices (saving regularly and having limited debt). Those who indicated they had personally saved for retirement were more likely to view these savings as their largest source of income during retirement, as opposed to Social Security benefits. A majority agreed that financial management education should be included in the dental hygiene curriculum, and that they would attend a continuing education course on the subject if offered. The results of this study suggest that hygienists have confidence in their ability to provide secure financial futures for themselves. Hygienists who practiced sound financial planning, such as adhering to monthly budgets, having wills, lowering debt and saving regularly, reported a higher level of financial security than those who did not. Most respondents expressed interest in receiving education about financial management through the dental hygiene curriculum and continuing education courses.
... other information of a private and personal nature. (b) Information having a commercial or financial... individuals who have access to such information, (3) the type and degree of risk of financial injury to be... use of nondiscloseable records or information from such records for authorized program purposes...
This perspective biases on the side that personalized medicine can contribute to a more efficient collective model; however, the hard economics need and deserve significantly more critical analysis and new data input than they are currently being given, to determine their role, or not, in driving change. Put simply, as with the birth of all new and promising developments in healthcare, myth, hope and trend-spotting are driving this market forward, rather than any hard evidence of a sustainable commercial business model for all stakeholders. While there are clear economic benefits to aspects of delivery along the way to personalized care, there may in fact be no compelling economic drivers for radical change for payers and the pharmaceutical industry. The best they can hope to achieve is that the balance sheet is, just that, in balance.
Full Text Available The main reason for central bank independence lies in the fact that it is necessary to clearly distinguish spending money from the ability of making money. Independence of central banks is now a characteristic of almost all developed and highly industrialized countries. In this respect, it represents an essential part of the overall economic reality of these countries. Over the past decade or somewhat earlier, the issue of importance of central bank independence has been raised in developing countries, making the institutional, functional, personal and financial independence of central banks current topics for consideration. The key reason for the growing attention to financial independence of central banks is due to the effects of the global financial crisis on their balance sheets and therefore the challenges related to achieving the basic goals of the functioning of central banks - financial stability and price stability.
Enowbi Batuo, M.; Mlambo, Kupukile; Asongu, Simplice
In the aftermath of the 2008 global financial crisis, the implications of financial liberalisation for stability and economic growth has come under increased scrutiny. One strand of literature posits a positive relationship between financial liberalisation and economic growth and development. However, others emphasise the link between financial liberalisation is intrinsically associated with financial instability which may be harmful to economic growth and development. This study assesses ...
... this order, including means to: (i) build a culture of financial capability by promoting messages and... subsistence, as authorized by law for persons serving intermittently in Government service (5 U.S.C. 5701... General Services. (b) Nothing in this order shall be construed to impair or otherwise affect: (i...
Carrera, Percivil Melendez; Olver, Ian
Personalized medicine is revolutionizing the delivery of oncological care, promising benefits both at the patient and health system levels. The cost of targeted therapies, unfortunately, is becoming more expensive and unaffordable. Where supportive care in cancer concerns the prevention and
Full Text Available A sustainable financial system relies on two pillars: the functional and healthy financial institutions, as well as the financially competent customers-investors-entrepreneurs. The responsibility for the implementation of training programs and preparation for the well-informed choice does not lie only with the natural persons and legal entities. This is a shared responsibility of different stakeholders: individuals, families, small and medium enterprises, public administration, the Ministry of Education, the financial services sector, employers and representatives of trade unions and consumer protection organizations as well as other civil society initiatives. A prime example of such an integrated approach towards the same goal is the European Platform for Financial Education, an initiative launched by the European Banking Federation, the European Banking Training Network and other institutions (professional associations, in February 2017 in Brussels as an incentive for the national level efforts in implementing the respective financial literacy programs. In this paper we analyzed the importance and role of the European Platform for Financial Education in the case of the Serbian banking sector through the activities of the Association of Serbian Banks. These activities will be implemented by the Association of Banks of Serbia continuously throughout the year, and after the celebration of the European Money Week on 27-31 March 2017.
Full Text Available We study financial literacy in France using the PATER survey and following the Lusardi and Mitchell (2011c approach. We find that some subpopulations are less financially literate than others: women, young and old people as well as less-educated people are more likely to face difficulties when dealing with fundamental financial concepts such as risk diversification and inflation and interest compounding. We also find some differences in financial knowledge depending on the political opinion of the respondents. Finally we show that these differences in financial knowledge are correlated with differences in the propensity to plan: people who score higher on the financial literacy questions are more likely to be engaged in the preparation of a clearly defined financial plan.
C. Bradler (Christiane); S. Neckermann (Susanne)
textabstractThis paper makes use of two field experiments to explore individual effort responses to gifts. We extend the literature by looking at non-financial gifts and gifts that combine financial and non-financial elements with or without adding a "personal touch". We find that non-pecuniary
Iustina Alina Boitan
Full Text Available Financial crises are complex phenomena, in terms of the triggering factors, duration and severity, impact on both financial system and macroeconomic fundamentals and the full range of costs arising from its occurrence. The paper aims at providing an updated picture on the magnitude the 2008 financial crisis had, in terms of economic costs incurred by EU member states. It has been briefly reviewed crises’ main monetary and economic effects and costs. Then it has been employed International Monetary Fund’s approach for measuring crisis severity, expressed as an output loss indicator. To check the stability of the results, the basic methodology relying on a 3-year GDP trend has been complemented with a 7-year GDP trend. The output losses recorded by each EU country, under both trend assumptions, showed that Baltic states and Greece had been the most affected as they cumulated the highest losses. The lowest output losses have been registered in Western Europe countries (Austria, Belgium, France, Germany and Poland. Most EU economies’ growth still hasn’t entered on a robust ascending path, as they haven’t reached the level of GDP trend computed for the period preceding the onset of the financial crisis.
Wang, Jianxin; Gochoco-Bautista, Maria Socorro; Sotocinal, Noli
Motivated by the literature on the finance–growth nexus, this paper explores the mechanisms through which finance affects corporate investments and capital accumulation. We separate the effects of financial conditions from those of financial development. Based on a sample of firms from five Asian emerging economies, we find that (1) financial conditions and financial development affect corporate investments through different channels. Financial conditions affect firms' growth opportunities an...
McCarthy, John H.; Turner, Robert M.
This booklet for trustees of higher education institutions offers guidelines to help trustees understand the institution's financial statements. Individual sections describe the three major financial statements and cover topics such as: (1) standards of the Financial Accounting Standards Board; (2) the "statement of financial position,"…
Mizell, Jason S; Berry, Katherine S; Kimbrough, Mary Katherine; Bentley, Frederick R; Clardy, James A; Turnage, Richard H
A 2005 survey reported 87% of surgery program directors believed practice management training should occur during residency. However, only 8% of program directors believed residents received adequate training in practice management . In addition to the gap in practice financial management knowledge, we recognized the need for training in personal finance among residents. A literature review and needs assessment led to the development of a novel curriculum for surgery residents combining principles of practice management and personal finance. An 18-h curriculum was administered over the 2012 academic year to 28 post graduate year 1-5 surgery residents and faculty. A self-assessment survey was given at the onset and conclusion of the curriculum . Pre-tests and post-tests were given to objectively evaluate each twice monthly session's content. Self-perception of learning, interest, and acquired knowledge were analyzed using the Wilcoxon signed ranks test. Initial self-assessment data revealed high interest in practice management and personal finance principles but a deficiency in knowledge of and exposure to these topics. Throughout the curriculum, interest increased. Residents believed their knowledge of these topics increased after completing the curriculum, and objective data revealed various impacts on knowledge. Although surgery residents receive less exposure to these topics than residents in other specialties, their need to know is no less. We developed, implemented, and evaluated a curriculum that bridged this gap in surgery education. After the curriculum, residents reported an increase in interest, knowledge, and responsible behavior relating to personal and practice financial management. Copyright © 2014 Elsevier Inc. All rights reserved.
Grohmann, Antonia; Klühs, Theres; Menkhoff, Lukas
While financial inclusion is typically addressed by improving the financial infrastructure we show that financial literacy, representing the demand-side of financial markets, also has a beneficial effect. We study this effect at the cross-country level, which allows to consider institutional variation. Regarding "access to finance", financial infrastructure and financial literacy are mainly substitutes. However, regarding the "use of financial services", the effect of higher financial literac...
Full Text Available The research paper, focused on a rather technical approach, has the goal to design a system that brings together diverse audit stakeholders and investigates how an audit database available online can be implemented in SharePoint, as part of an on-line audit system which is collaborative and national. The online audit database covers various information needs for both financial auditors and the employees of the Chamber of Financial Auditors of Romania. For rapid deployment, we used various tools: Microsoft SQL Server 2008 R2, SharePoint Server 2010, SharePoint Designer 2010 and various implementation features: external content types, external lists, business data web parts etc. In this paper, we use two research methods: the first one is empiric, based on formulating a questionnaire and the interpretation of the results, while the second is the analysis of the implementation process by using a step-by-step approach. The online audit database stores information about the results of previous audits, the opinions issued as result of audits, the results of online electronic inspections, audit firms, audited entities, risks identified etc. The conclusion was that the online database, which is updated through Internet, is feasible to implement in SharePoint, for multiple audit stakeholders including financial auditors who can sell their financial audit services benefiting from the transparency that the system provides.
Udaibir S Das; Plamen Yossifov; Richard Podpiera; Dmitriy L Rozhkov
In this paper, we develop multi-country indices of financial system stress and quality of financial policies and use them in regression analysis of the determinants of financial stress. We find that countries with higher quality of financial policies are better able to contain the effects of macroeconomic pressures on the overall level of stress in the financial system. They are also in a better position to ensure sustainable development of the financial system.
This paper examines the ability of financial advice provided by sellers of financial services to substitute for financial literacy of customers. I set up a simple theoretical model in which an informed financial advisor communicates with a less informed customer of financial services. Given the existence of a conflict of interest from the advisor's perspective, the model predicts that only well financially sophisticated customers receive relevant information from the advisor. This fact tends ...
This student guide is intended to assist persons employed as supervisors in accounting for money. Discussed in the first four sections are the following topics: the need for accounts; financial accounting (basics of financial accounting, creditors and debtors, assets and liabilities, and balance sheets); cost and management accounting (company,…
... appointed the sole receiver for the following financial institutions effective as of the Date Closed as... Charleston SC 6/8/2012 Savings Bank. 10442 Farmers' Bank and Shabbona IL 6/8/2012 Traders' State. 10443 First...
Cid P, Camilo; Bastías S, Gabriel
In 2011 the Chilean National Health Fund (FONASA) commissioned a study to assess the costs of the 120 most relevant hospital care services with an established fee, in a large sample of public hospitals. We herein report the cost evaluation results of such study, considering the financial condition of those hospitals in the year of the study. Based on the premise that the expenses derived from the provision of institutional and appraised hospital services should be identical to the billing of hospitals to FONASA, the prices are undervalued, since they cover only 56% of billing, generating a gap between expenses and invoicing. This gap shows an important limitation of tariffs, since their prices do not cover the real costs. However not all hospitals behave in the same way. While the provision of services of some hospitals is even higher than their billing, most hospitals do not completely justify their invoicing. These assumptions would imply that, generally speaking, hospital debts are justified by the costs incurred. However, hospitals have heterogeneous financial situations that need to be analyzed carefully. In particular, nothing can be said about their relative efficiency if cost estimations are not adjusted by the complexity of patients attended and comparison groups are not defined.
Li, Rui; Gregg, Edward W; Barker, Lawrence E; Zhang, Ping; Zhang, Fang; Zhuo, Xiaohui; Williams, Desmond E; Soumerai, Steven B
Medicare Part D, implemented in 2006, provided coverage for prescription drugs to all Medicare beneficiaries. To examine the effect of Part D on the financial burden of persons with diagnosed diabetes. We conducted an interrupted time-series analysis using data from the 1996 to 2008 Medical Expenditure Panel Survey (11,178 persons with diabetes who were covered by Medicare, and 8953 persons aged 45-64 y with diabetes who were not eligible for Medicare coverage). We then compared changes in 4 outcomes: (1) annual individual out-of-pocket expenditure (OOPE) for prescription drugs; (2) annual individual total OOPE for all health care services; (3) annual total family OOPE for all health care services; and (4) percentage of persons with high family financial burden (OOPE ≥10% of income). For Medicare beneficiaries with diabetes, Part D was associated with a 28% ($530) decrease in individual annual OOPE for prescription drugs, a 23% ($560) reduction in individual OOPE for all health care, a 23% ($863) reduction in family OOPE for all health care, and a 24% reduction in the percentage of families with high financial burden in 2006. There were similar reductions in 2007 and 2008. By 2008, the percentage of Medicare beneficiaries with diabetes living in high financial burden families was 37% lower than it would have been had Part D not been in place. Introduction of Part D coverage was associated with a substantial reduction in the financial burden of Medicare beneficiaries with diabetes and their families.
Evgenia E. Frolova
Full Text Available Purpose: the article examines the main problems associated the new regulatory acts of Malaysia – the Financial Services Act of 2013 and the Islamic Financial Services Act of 2013; The characteristics of the legal status of the "Ombudsman for financial services" are listed, types of financial disputes subject to settlement under the "financial ombudsman scheme" are listed, parties to the financial dispute are identified. To achieve this goal, the article must solve the following tasks: to determine whether there are institutions in Malaysia that provide services for resolving financial disputes; to investigate the main problems associated with the definition of the concept and types of financial dispute, the conditions for the transfer of a financial dispute to the competent authority. Methods: this article is based on an interdisciplinary concept of research, which allowed to distinguish the distinctive features of the legal regulation of the settlement of financial disputes in Malaysia. Results: according to the provisions of the new laws of Malaysia, namely the Financial Services Act of 2013 and the Islamic Financial Services Act of 2013, a financial dispute should be understood as a dispute, to which the parties are a financial consumer and a financial service provider provider. Financial disputes include disputes in the field of insurance and Islamic insurance, as well as disputes over bank cards, bank accounts, ATMs, Internet banking, mobile banking, and others. The main body for the settlement of financial disputes is the Financial Ombudsman. The competence of the financial ombudsman is limited by the amount of the claim of 250,000 ringgit (about 4.5 million rubles, under insurance claims – 10,000 ringgit, in the field of unauthorized transactions – 25,000 ringgit. The procedure for resolving a financial dispute, which in Malaysia is referred to as the "scheme of a financial ombudsman", is established by the Central Bank of Malaysia
Wagg, Adrian; Gibson, William; Ostaszkiewicz, Joan; Johnson, Theodore; Markland, Alayne; Palmer, Mary H; Kuchel, George; Szonyi, George; Kirschner-Hermanns, Ruth
Evidence based guidelines for the management of frail older persons with urinary incontinence are rare. Those produced by the International Consultation on Incontinence represent an authoritative set of recommendations spanning all aspects of management. To update the recommendations of the 4th ICI. A series of systematic reviews and evidence updates were performed by members of the working group in order to update the 2009 recommendations. The resulting guidelines were presented at the 2012 meeting of the European Associatioon of Urology. Along with the revision of the treatment algorithm and accompanying text. There have been significant advances in several areas including pharmacological treatment of overactive bladder. The committee continue to notes the relative paucity of data concerning frail older persons and draw attention to knowledge gaps in this area. © 2014 Wiley Periodicals, Inc.
International Monetary Fund
This technical note provides an overview of Mexico’s derivatives markets, and describes concisely the derivatives regulatory framework and risk management practices in financial institutions active in these markets. The most important derivatives market in Mexico is the over-the-counter (OTC) derivatives market, which is fully integrated with the global derivatives market. The origin of the OTC derivatives market can be traced back to the 1994 Mexican crisis that forced Mexico to abandon its ...
Jonathan Reuter; Eric Zitzewitz
We use mutual fund recommendations to test whether editorial content is independent from advertisers’ influence in the financial media. We find that major personal finance magazines (Money, Kiplinger’s Personal Finance, and SmartMoney) are more likely to recommend funds from families that have advertised within their pages in the past, controlling for fund characteristics like expenses, past returns and the overall levels of advertising. We find little evidence of a similar relationship for m...
Full Text Available Our research aims to develop an analysis of the usefulness of financial statements and financial investment in making the diagnosis. Financial analysis is by definition an activity that performance condition is diagnosed entity of the financial year. Financial analysis shall be determined by strengths and weaknesses of financial management based on which will underpin future strategy of the entity to maintain and develop it into a competitive environment. Results of financial analysis depends on the quality, accuracy, relevance and effectiveness of economic information collected and processed. The primary sources of information for financial analysis are the financial statements, which are considered as raw material in the analysis.
The NRC is currently developing final rules in the area of decommissioning nuclear facilities. A part of that rulemaking effort is assuring that funds will be available at the time of decommissioning of power reactors. This report provides an update by considering public comments received on the NRC's proposed rule on decommissioning (published February, 1985) and by analyzing the relative level of assurance of internal and external reserves. In its analysis, the report makes use of specific case utility financial situations. The report concludes that from a financial standpoint, with the exception of PSNH, internal reserves currently provide sufficient assurance of funds for decommissioning. The report also concludes that the NRC should recommend changes in bankruptcy laws, including decommissioning obligations in utility prospectuses, and conduct periodic financial reviews of nuclear utilities due to changing economic conditions
Kaiser, Tim; Menkhoff, Lukas
A meta-analysis of 126 impact evaluation studies finds that financial education significantly impacts financial behavior and, to an even larger extent, financial literacy. These results also hold for the subsample of randomized experiments (RCTs). However, intervention impacts are highly heterogeneous: financial education is less effective for low-income clients as well as in low- and lowe...
Dalsted, N L
Financial management has emerged as a critical component in the long-term viability of today's ranches and farms. Proper and timely financial reporting and analysis of financial statements are valuable tools that agricultural producers can use to monitor, coordinate, and plan their operational production and marketing schemes and strategies. A side note to preparation of financial statements. With the concerns over lender liability issues associated with statements either assisted with or prepared by a lending officer, agricultural producers will be responsible for preparing their own statements. The lending institutions may prepare their own statements in their assessment of the financial condition of a business and or individual, but, ultimately, the responsibility of financial statements is the borrower's. Some of the material presented in this article provides important input for use in such analytical programs as the National Cattlemen's Association, Integrated Resource Committees, and Standard Performance Analysis (SPA). SPA techniques and associated software have been or currently are under development for cow-calf, stocker, seedstock, and sheep enterprises. Critical to the analysis is having complete and correct financial statements. These analytical programs build on the financial statements. These analytical programs build on the financial statements as recommended by the FFSTF. Proper financial reporting is critical not only to a SPA assessment but also to the overall financial management of today's farms and ranches. Recognizing the importance of financial management in production agriculture is not enough, taking a proactive stance in one's financial plan is paramount to success. Failure to do so will only enhance the exit rates of producers from production agriculture.
Full Text Available The Financial crisis in 2008 increased the focus of financial intermediaries and also national authorities for financial education and financial literacy of households. Bank association in Slovakia started to measure and increase the financial literacy of population and government implemented the National standard of financial literacy into the curriculum of grammar schools and high schools. This paper examines the level of financial literacy of students in Slovakia and the influence of determinants education level and education focus. We performed a questionnaire with 10 questions on a sample of 608 students from two Faculties of Slovak University of Agriculture. The questions were linked to 4 areas: interest, risk management, financial market and personal finance. To measure the level of financial literacy we use Index of financial literacy IFIG. Using Index of financial literacy and Mann-Whitney U test techniques we find that education level and education focus are relevant determinants of financial literacy level. Students with bachelor degree have better results when compared to high school students. The success rate measured by the IFIG of bachelor students was 0,658 and the success rate of high school students was 0,577. We also found differences based on the education focus. We compared two groups: students with economic focus of education with students with non-economic focus of education. Based on our results we can conclude that economic focus of education increases the level of financial literacy. The success rate of students with economic focus of education was significantly higher (0,674 compared to the students with non-economic focus of education (0,553.
Vermeulen, Robert; Hoeberichts, Marco; Vasicek, Borek; Zigraiova, Diana; Smidkova, Katerina; de Haan, Jakob
This paper develops a Financial Stress Index (FSI) for 28 OECD countries and examines its relationship to crises using a novel database for financial crises. A stress index measures the current state of stress in the financial system and summarizes it in a single statistic. Our results suggest that
Full Text Available Paper work “Financial analysis of the financial institutions sector in Kosovo” treats financial sector in Kosovo. Paper work contains the current position of the economy, economic prospects and macroeconomic projections for the financial sector in Kosovo, future potential and possibilities of financial sector in Kosovo. The main goal of this research is financial analysis of Kosovo financial institutions sector - overview of key indicators. This research evaluates the performances of commercial bank’s profitability, which have operated in the market during the period 2006-2012. This research is conducted through financial analysis coefficients: Return on Equity, Return on assets and Cost to Income. Test t-Student is used to analyze the profitability for the period 2006/2007 before the financial crisis and the period 2011/2012 after financial crisis.
Chen, Ting-Ting; Zheng, Bo; Li, Yan; Jiang, Xiong-Fei
Agent-based modeling is a powerful simulation technique to understand the collective behavior and microscopic interaction in complex financial systems. Recently, the concept for determining the key parameters of agent-based models from empirical data instead of setting them artificially was suggested. We first review several agent-based models and the new approaches to determine the key model parameters from historical market data. Based on the agents' behaviors with heterogeneous personal preferences and interactions, these models are successful in explaining the microscopic origination of the temporal and spatial correlations of financial markets. We then present a novel paradigm combining big-data analysis with agent-based modeling. Specifically, from internet query and stock market data, we extract the information driving forces and develop an agent-based model to simulate the dynamic behaviors of complex financial systems.
Gomez, Alice; Rousset, Stéphane; Baciu, Monica
Influential models suggest that spatial processing is essential for episodic memory [O'Keefe, J., & Nadel, L. (1978). The hippocampus as a cognitive map. London: Oxford University Press]. However, although several types of spatial relations exist, such as allocentric (i.e. object-to-object relations), egocentric (i.e. static object-to-self relations) or egocentric updated on navigation information (i.e. self-to-environment relations in a dynamic way), usually only allocentric representations are described as potentially subserving episodic memory [Nadel, L., & Moscovitch, M. (1998). Hippocampal contributions to cortical plasticity. Neuropharmacology, 37(4-5), 431-439]. This study proposes to confront the allocentric representation hypothesis with an egocentric updated with self-motion representation hypothesis. In the present study, we explored retrieval performance in relation to these two types of spatial processing levels during learning. Episodic remembering has been assessed through Remember responses in a recall and in a recognition task, combined with a "Remember-Know-Guess" paradigm [Gardiner, J. M. (2001). Episodic memory and autonoetic consciousness: A first-person approach. Philosophical Transactions of the Royal Society B: Biological Sciences, 356(1413), 1351-1361] to assess the autonoetic level of responses. Our results show that retrieval performance was significantly higher when encoding was performed in the egocentric-updated condition. Although egocentric updated with self-motion and allocentric representations are not mutually exclusive, these results suggest that egocentric updating processing facilitates remember responses more than allocentric processing. The results are discussed according to Burgess and colleagues' model of episodic memory [Burgess, N., Becker, S., King, J. A., & O'Keefe, J. (2001). Memory for events and their spatial context: models and experiments. Philosophical Transactions of the Royal Society of London. Series B
Welink, Jan-Henk; Dumont, M.; Kwant, K.
In 2004 a study was published on green gas. Green gas is defined as a gaseous energy carrier from renewable biomass with a similar quality as natural gas. As a result of new developments in the field of co-digestion/fermentation the Dutch Ministry of Economic Affairs asked it's agency SenterNovem to update the 2004 study. The aim of the update is (1) to gain insight into operational aspects of green gas projects, e.g. reliability, efficiency and maintenance aspects; (2) stimulate the production of green gas, taking into account the economics of green gas projects, calculation of the financial gap of green gas production, efficient use of biogas (conversion to electricity or directly input into the natural gas distribution systems, and aspects with regard to commercialization and the market; and (3) the potential of green gas [nl
Chirica, T.; Havris, A.
European Commission adopted recently two proposals of Directives designed to pave the way for a Community approach to the safety of nuclear power plants and the processing of radioactive waste. Nuclear safety cannot be guaranteed without making available adequate financial resources. With regard, in particular, to the decommissioning of nuclear facilities, the Directive defines the Community rules for the establishment, management and use of decommissioning funds allocated to a body with legal personality separate from that of the nuclear operator. In order to comply with the acquis communautaire, Romanian Government issued the Emergency Ordinance no. 11/2003 which set up the National Agency for Radioactive Waste (ANDRAD) and soon will be established the financial mechanism for raising the necessary funds. Societatea Nationala 'Nuclearelectrica' S.A. operates, through one of its branches, Cernavoda NPP Unit 1 and has to prepare its decommissioning strategy and to analyze the options to assure the financing for covering the future costs. The purpose of this paper is to clarify the financial systems' mechanisms to the satisfaction of the nuclear operator obligations, according to the disbursement schedule foreseen by decommissioning projects . The availability of cash to pay for all the decommissioning expenditure must be foreseen by setting up assets and establishing a suitable financing plan. The different practices of assets management shall be presented in this paper on the basis of the international experience. Some calculation samples shall be given as an illustration. (author)
... 19 Customs Duties 1 2010-04-01 2010-04-01 false Persons authorized to receive Customs collections. 24.2 Section 24.2 Customs Duties U.S. CUSTOMS AND BORDER PROTECTION, DEPARTMENT OF HOMELAND SECURITY; DEPARTMENT OF THE TREASURY CUSTOMS FINANCIAL AND ACCOUNTING PROCEDURE § 24.2 Persons authorized to receive...
Bravo, B.; Sollet, E.; Serrano, E.
Within the continuous improvement processes that take place in all the activities taking place in the Spanish nuclear power plants, and as a result of implementation of ISO Standards for Internal Dosimetry, has undertaken a review, improvement and updating INDAC ALEDIN and applications associated with measuring equipment and DIYs Quicky kind Personal Internal Dosimetry Services of the Spanish nuclear power plants and Tecnatom This paper presents updates capacities both tools. (Author)
Khorosheva Olena I.
Full Text Available The goal of the article lies in identification of grounds of interconnection of the financial economy and financial system. The study was conducted with consideration of main provisions of the theory of finance and concept of financial economy, which is a set of means used in the process of reproduction of finance by their owner for formation and / or maintenance of the own system of values in the viable state. For the first time ever the structure of the financial system is identified as an aggregate of financial economies and financial market. The article justifies a necessity of expansion of boundaries of perception of the state financial economy, which is offered to include public financial economy of the state level and the set of financial economies of the state as a subject of economic activity. Such an approach forms a base for justification of the synthesis of participation of the state in financial relations as the owner and as the basic macro-economic regulator. Prospects of further study in this direction are: development of classification of financial economies; revelation of specific features of impact of shadow finance on development of the national financial economy; and assessment of possibilities of inclusion of structured financial products into the system of values of financial economies in Ukraine.
Oscar Banda Lefaure
Full Text Available Changes in the way of doing business that have resulted from globalization of markets have enabled countless benefits, but also a significant number of risks, that have been evident as since 2001 revelations about financial scandals around the world have occurred one after another. These unfortunate events showed the vulnerability to which investors (and other stakeholders are exposed for not having timely, clear and accurate information of the business progress in which they invest, and therefore not being able to take precautions. In addition, these business disasters have shown how the most unscrupulous executives do not hesitate to act illegally to hide their shady financial and accounting manoeuvres, in order to promote their personal benefit. Then the executive compensations policy lies behind. At this juncture, the importance of migrating to a new model of disclosure where the global financial community can take shelter of these malpractices and trust the board controls and the management stablishes has been increasing. This new model of disclosure has one of its pillars in non-financial information reports. This is not an alchemist solution, but is one of many efforts to be undertaken by companies to recover damaged trust. The international financial crisis affecting the world economy at the moment is another example of the need to give greater trust to the stakeholders –through transparency in the information they provide–. Only then, their participation in the capital market will be maintained and increased, and the costs that brings widespread lack of trust in which we live will be reduced.
Akira Kohsaka; Jun-ichi Shinkai
We examine the role of financial shocks in business cycles in general and in financial crises in particular in East Asia (Indonesia, Korea, Malaysia and Thailand) since the 1990s. Estimating a Financial Conditions Index, we found that financial shocks explain most of business downturns in all the economies in the Asian Financial Crisis (AFC) in 1997-98, but that the effects of financial shocks are diverse across economies in the Global Financial Crisis (GFC) in 2008-09. In the GFC, the financ...
Corporate financial fragility preceding the Asian financial crisis heightened vulnerabilities. Many countries in the region undertook significant corporate financial restructuring after the crisis, with some countries bouncing back much faster than others. These sounder corporate financial practices bode well for financial stability.
Full Text Available Financial information has, indisputably, an important effect in economics. To form an effective capital market, financial information must be reliable and accurate. Misleading financial information always has a negative impact on economic decision taken by users. It is known that financial information as the cornerstone of financial markets, can improve economic performance in several ways. Nowadays we are facing economic crisis due to irregularities of presentation of financial statements to users. Misunderstandings cause economic recession. Detection of fraudulent financial information, is an important issue facing the auditing profession. Currently, bankruptcy of companies around the world, leaves millions of people without jobs, this is caused by financial information which is manipulated by companies. The purpose of this paper is to analyze the effects of errors and manipulation committed in the financial information sector on the real economy. Also one of the purposes of this paper is to analyze error and fraud in financial statements how it effects the real economy and the reasons for committing fraud in financial statements. Also, several suggestions are included in this study about actions that can be taken to prevent errors and manipulation in financial information.
Enrica Detragiache; Asli Demirgüç-Kunt
The authors study the empirical relationship between banking crises and financial liberalization using a panel of data for 53 countries for 1980-95. They find that banking crises are more likely to occur in liberalized financial systems. But financial liberalization's impact on a fragile banking sector is weaker where the institutional environment is strong--especially where there is respect for the rule of law, a low level of corruption, and good contract enforcement. They examine evidence o...
Lucy M. Delgadillo
Full Text Available This study reports on the pedagogical experience of teaching a financial coaching course to personal and family finance undergraduate students at XXXX State University. The paper describes the conceptualization of the class, including theoretical frameworks, ethical considerations, practitioner’s models, learning objectives, and competencies. The assessment of the course provided data used by the instructor to refine and adjust future course content and assignments. Quantitative data was collected in pre- and post-tests assessments. The quantitative assessment shows statistically significant gains in specific coaching skills and competencies. The qualitative assessment indicates that, at the end of the course, students had better understanding of the coaching code of ethics and better communication and listening skills. The peer-to-peer coaching exercise was apparently very fear-provoking but valuable for the students. Challenges for teaching financial coaching by future instructors are discussed in the last section
ORENS, Raf; LYBAERT, Nadine
The decline in the relevance of financial statement information to value firms leads to calls from organizational stakeholders to convey non-financial information in order to be able to judge firms' financial performance and value. This literature review aims to report extant literature findings on the use of corporate non-financial information by sell-side financial analysts, the information intermediaries between corporate management and investors. Prior studies highlight that financial ana...
Asongu, Simplice A.; Koomson, Isaac; Tchamyou, Vanessa S.
Purpose – This study assesses the effect of time-dynamic financial globalisation uncertainty on financial development in 53 African countries for the period 2000-2011. Design/methodology/approach – Financial globalisation uncertainty is estimated as time-dynamic to capture business cycle disturbances while all dimensions identified by the Financial Development and Structure Database of the World Bank are employed, namely: financial depth (money supply and liquid liabilities), financial sy...
Liliane Souza Santos
Full Text Available The problem of personal debt is becoming more present in people's lives. What was once considered a personal problem only became a problem in part of the organizations, as when the employee is indebted, he ends up bringing their problems into the company. With that financial education has become increasingly important for companies. Today, 5% of large companies in Brazil have already inserted financial education for their employees. This research shows that recurring problems with debts lead employees to lose focus in their activities, to commit more errors in the process, missing more work and, in extreme cases, to resign in order to receive the guarantee fund for the working time. With financial education, employees learn to manage their finances, repay their debts and not acquiring debts that can not repay. Employees with no financial problems, increase productivity and quality of the process also. The advantage is for the company and the employee.
Archuleta, Kristy L.; Dale, Anita; Spann, Scott M.
The impact of financial concerns on overall mental health has become a popular topic among researchers and practitioners. In this exploratory study, possible associations of financial anxiety were explored using a sample of 180 college students who sought services at a university peer financial counseling center in a Midwestern state. Of…
Full Text Available Identity theft has become one of the fastest growing white collar crimes in the world. It occurs when an individual's personal information such as inter alia his or her name, date of birth or credit card details is used by another individual to commit identity fraud. Identity theft can be committed via physical means or online. The increased use of the Internet for business and financial transactions, social networking and the storage of personal information has facilitated the work of identity thieves. Identity theft has an impact on the personal finances and emotional well-being of victims, and on the financial institutions and economies of countries. It presents challenges for law enforcement agencies and governments worldwide. This article examines how identity thieves use the personal information of individuals to commit identity fraud and theft, and looks at legislative solutions introduced in South Africa, the United States of America, the United Kingdom and India to combat identity theft crimes. The article examines measures introduced by the respective governments in these countries to counteract such crimes. Finally, the article will propose a way forward to counteract such crimes in the future. The study reveals that identity theft is a growing and evolving problem that requires a multi-faceted and multi-disciplinary approach by law enforcement agencies, businesses, individuals and collaboration between countries. It is advocated that businesses and institutions should take measures to protect personal information better and that individuals should be educated about their rights, and be vigilant and protect their personal information offline and in cyberspace.
Rotarius, Timothy; Liberman, Aaron
This research effort presents a descriptive analysis of the financial impact that several hospitals have on their local economy. An earlier study published by the authors included 3 distinct, yet overlapping components of financial impact: (1) the hospital system as a major health care provider, (2) the hospital system as a large employer, and (3) the hospital system as an entity whose employees contribute greatly to their local community. This new study added additional financial impact factors: (4) the hospital system as an organization committed to major construction projects in pursuit of its health services mission, and (5) the hospital system as an entity that pays taxes to government agencies. The inextricable relationship of these 5 categories both increases and enhances the impact of the hospital system on the local region. The results of this updated and expanded analysis suggest strongly that the hospital system represents 1 of the primary contributors to the economy of the region. The hospital system adds $3 billion to the $28 billion local economy, which means that the hospital system and its employees are responsible for 10.7% of the total economic prowess of the region.
Ganesh, Aravind; King-Shier, Kathryn; Manns, Braden J; Hill, Michael D; Campbell, David J T
Stroke patients of lower socioeconomic status have worse outcomes. It remains poorly understood whether this is due to illness severity or personal or health system barriers. We explored the experiences of stroke patients with financial barriers in a qualitative descriptive pilot study, seeking to capture perceived challenges that interfere with their poststroke health and recovery. We interviewed six adults with a history of stroke and financial barriers in Alberta, Canada, inquiring about their: (1) experiences after stroke; (2) experience of financial barriers; (3) perceived reasons for financial barriers; (4) health consequences of financial barriers; and (5) mechanisms for coping with financial barriers. Two reviewers analyzed data using inductive thematic analysis. The participants developed new or worsened financial circumstances as a consequence of stroke-related disability. Poststroke impairments and financial barriers took a toll on their mental health. They struggled to access several aspects of long-term poststroke care, including allied health professional services, medications, and proper nutrition. They described opportunity costs and tradeoffs when accessing health services. In several cases, they were unaware of health resources available to them and were hesitant to disclose their struggles to their physicians and even their families. Some patients with financial barriers perceive challenges to accessing various aspects of poststroke care. They may have inadequate knowledge of resources available to them and may not disclose their concerns to their health care team. This suggests that providers themselves might consider asking stroke patients about financial barriers to optimize their long-term poststroke care.
Johnson, Alena C.
The purpose of this study was to evaluate The Financial Checkup program. The program consisted of a booklet called The Financial Checkup and a 1-1 y, hour workshop explaining the booklet. The booklet helps individuals evaluate their financial situation on an annual basis. It includes a net worth statement, an income and expense statement, financial ratios, a revolving savings worksheet, a retirement worksheet, a life insurance worksheet, a financial goals worksheet, and a budget worksheet. Th...
Full Text Available This paper focuses on changes that can be adopted to ease students’ difficulties when challenged to prepare a personal financial plan. It reports the experiences of one Australian university’s use of a ‘scaffolding’ approach that was developed specifically to support students with this task. Such scaffolds provide a support for students to accomplish the task of constructing the financial plan by providing them with early, but temporary, supporting structures at particular points in the process. Over time these supports are removed. This pedagogic approach has proved successful and has assisted students in building confidence in, and mastery of, the financial planning process.
... determine its capitalization thresholds as discussed in Financial Accounting Standard Advisory Board (FASAB) Statement of Federal Financial Accounting Standards No. 6 Accounting for Property, Plant and Equipment... vulnerability to theft, waste, fraud, or abuse. Excess personal property (see § 102-36.40 of this subchapter B...
Nguyen, Christopher M; Barrash, Joseph; Koenigs, Anna L; Bechara, Antoine; Tranel, Daniel; Denburg, Natalie L
The problems that some community-dwelling elderly persons develop in real-world decision-making may have disastrous consequences for their health and financial well-being. Investigations across the adult life span have identified personality as an important individual differences variable that is related to decision-making ability. The aim of this study was to investigate the relationship between personality characteristics, as rated by an informant, and complex decision-making performance among elderly persons. It was hypothesized that deficits in decision-making would be associated with personality characteristics reflecting weak executive functioning (Lack of Planning, Poor Judgment, Lack of Persistence, Perseveration, Lack of Initiative, Impulsivity, and Indecisiveness). Fifty-eight elderly persons participated. Their health and cognitive status were deemed intact via comprehensive neuropsychological evaluation. The Iowa Scales of Personality, completed by an informant, was used to assess personality characteristics, and the Iowa Gambling Task, completed by the participant, was used to assess complex decision-making abilities. Longstanding disturbances in executive personality characteristics were found to be associated with poor decision-making, and these disturbances remained predictive of poor decision-making even after taking into consideration demographic, neuropsychological, and mood factors. Acquired personality disturbances did not add significantly to prediction after longstanding disturbances were taken into account. Disturbances in other dimensions of personality were not significantly associated with poor decision-making. Our study suggests that attentiveness to the personality correlates of difficulties with aspects of executive functioning over the adult years could enhance the ability to identify older individuals at risk for problems with real-world decision-making.
Branko Matic; Hrvoje Serdarusic; Maja Vretenar Cobovic
In this paper the authors present the results of their research related to financial involvement and management of personal finances of the student population on the territory of eastern Croatia. The research focused on the reasons for the entrance of student population into the financial system, the amount of their use of credit institutions’ services as well as their motives for choosing a certain credit institution
Bramesfeld, Anke; Holler, Gerhard
The integration of mentally ill and handicapped persons in the society requires the availability of various forms of sheltered housing in the community, most important ambulatory (supported) housing facilities. In Germany the administrative and financial responsibility for sheltered housing for mental ill and handicapped persons is usually assigned to two authorities: the welfare authorities at Lander (state) level are responsible for hostels, the welfare authorities on community and district level are responsible for ambulatory housing. However some Lander have distributed these responsibilities differently and other Lander offer subsidy programmes to promote the implementation of ambulatory housing. To evaluate the different modes of distributing the responsibilities for administration and financing of sheltered housing for their impact on the supply with ambulatory and stationary housing in the 16 German Lander. (1) Analysis of the practise of distributing the responsibilities for housing between Lander and community welfare-authorities in the 16 Lander. Analysis of the subsidy programmes in the Lander that aim to promote the implementation of ambulatory housing. (2) Assessment of the capacities in housing for mentally ill and handicapped persons in the Lander. (3) Comparing (1) and (2). Lander that have the responsibilities for ambulatory housing and for hostels organised on the same authority-level, offer generally more housing in ambulatory facilities and less in hostels than Lander that do not. However, three Lander, despite having all responsibilities for housing at one authority level, provide accommodation for mentally ill and handicapped persons predominantly in hostels. There are so far no indications whether it would be more favourable to have a unique authority for housing based on Lander or on community level. Subsidy programmes to promote the implementation of supported housing are successful if they sponsor at least 50% of costs and if they exist
Collins, J. Michael; Olive, Peggy; O'Rourke, Collin M.
Financial coaching is an emerging complement to financial education and counseling. As defined in this article, financial coaching is a process whereby participants set goals, commit to taking certain actions by specific dates, and are then held accountable by the coach. In this way, financial coaching is designed to help participants bridge the…
This study is intended to analyze the current levels of financial depth and financial access in Indonesia and to analyze the factors affecting them. The analysis method used was a combination of descriptive quantitative, benchmarking, and literature reviews. The conclusion is that the financial depth in Indonesia has not shown a satisfactory level since it was the lowest, or the second lowest ranked country among the sampled countries. Meanwhile, the financial access in Indonesia is relativel...
The article aims at discussing the evolution of the concept of materiality in financial and, more specifically, non-financial reporting. Materiality will play a central role in the next years in order for reports to reach conciseness, which is at present one of the main goals both financial and non-financial reporting (in particular Integrated Reporting) aims to achieve. The article reviews the most relevant materiality frameworks and definitions and provides further insights for the advancem...
Full Text Available The economical-financial problems have always constituted a challenge far all the decisional factors at the state level and not only, thus the financial sciences which also aim to regulate the relationships to create, assign and use the financial funds of the state and of the public institutions, destined to satisfy the social-economical needs of the society recorded a great doctrinal interest. Thus, a series of jurists and economists had understand the necessity and opportunity of knowledge in the domain of financial science, of the financial law, taking into consideration the fact that the difficulties which they have met at those times obliged them to take the responsibility to make every simple citizen and every person with political or administrative responsibility by the state understand the problems of public administration. In approaching the given subject I have chosen to use some of the methods of scientific research, respectively: the historical method (financial science being presented succinct through the process of its evolution along the years, interpretation methods and a combination of quality and quantity approach, namely the method of analyzing archive documents and the studies of professor Gheorghe N. Leon. In these contexts have asserted and developed himself in the university and political environment, Gheorghe N. Leon, having a rich activity of intellectual creation, approaching in his works the complex aspects of the science of financial law. Thus, starting with the rules and principles of this domain, Gheorghe N. Leon had realized a veritable incursion in the history of finances and in the theory of taxation, public and budgetary credit. Analyzing a part of his scientific works, we can affirm that a personality with such a complex structure, like Gheorghe N. Leon is hard to define, but surely, through the prism of his works and through his long-lasting and rich scientific activity, his name can be mentioned among the
Han, S Duke; Boyle, Patricia A; James, Bryan D; Yu, Lei; Bennett, David A
Literacy is an important determinant of financial and health outcomes in old age, and cognitive decline has been linked with lower literacy. We tested the hypothesis that mild cognitive impairment (MCI) is associated with poorer financial and health literacy. Participants (n = 730) from the Rush Memory and Aging Project were given a clinical evaluation and an assessment of total, financial, and health literacy. Regression was used to examine whether MCI was associated with lower literacy. In secondary analyses, we investigated the association of particular cognitive systems with literacy. MCI was associated with lower total, financial, and health literacy. An interaction was observed such that higher education reduced the effect of MCI on total and financial literacy. Multiple cognitive systems were associated with literacy in participants with MCI, and semantic memory accounted for the most variance. Persons with MCI exhibit poorer financial and health literacy, and education mitigates this effect. © The Author(s) 2015.
Sormunen, Nina; Laitinen, Teija
stage affects the classification ability of single financial ratios and financial distress prediction models in short-term financial distress prediction. The study shows that the auditor's GC task could be supported by paying attention to the financial distress process stage. The implications...... of these findings for auditors and every stakeholder of business firms are considered....
This study is intended to analyse the current levels of financial depth and financial access in Indonesia and to analyse the factors affecting them. The analysis method used was a combination of descriptive quantitative, benchmarking, and literature reviews. The conclusion is that the financial depth in Indonesia has not shown a satisfactory level since it was the lowest, or the second lowest ranked country among the sampled countries. Meanwhile, the financial access in Indonesia is relativel...
This study is intended to analyse the current levels of financial depth and financial access in Indonesia and to analyse the factors affecting them. The analysis method used was a combination of descriptive quantitative, benchmarking, and literature reviews. The conclusion is that the financial depth in Indonesia has not shown a satisfactory level since it was the lowest, or the second lowest ranked country among the sampled countries. Meanwhile, the financial access in Indonesia is relativel...
Full Text Available Market economy development is highly dependent upon accounting data reliability and financial report quality because the investors decide more easily on investments in the market which had earned trust and safety in the previous period. Big financial scandals from the beginning of the 21st century and still actual financial crisis at the global level have especially contributed to that. The information prepared on the basis of high quality, transparent and comparable international standards considerably reduce investment risks as well as the cost of raising capital. On the other hand, the management of a large number of companies is focused on the creation of short-term personal benefits as opposed to the investors primarily interested in company survival and growth, that is, long-term goals. Information asymmetry is often present in the financial markets, and its damaging results, as a rule, are borne by shareholders and other stakeholders of the company. Corporate governance depends on legal, regulative and institutional environment, and it should balance the interests of the shareholders, capital owners, managers as well as company business managers.
Full Text Available With the pervasive increase in social media use, the explosion of users’ generated data provides a potentially very rich source of information, which plays an important role in helping online researchers understand user’s behaviors deeply. Since user’s personality traits are the driving force of user’s behaviors, hence, in this paper, along with social network features, we first extract linguistic features, emotional statistical features, and topic features from user’s Facebook status updates, followed by quantifying importance of features via Kendall correlation coefficient. And then, on the basis of weighted features and dynamic updated thresholds of personality traits, we deploy a novel adaptive conditional probability-based predicting model which considers prior knowledge of correlations between user’s personality traits to predict user’s Big Five personality traits. In the experimental work, we explore the existence of correlations between user’s personality traits which provides a better theoretical support for our proposed method. Moreover, on the same Facebook dataset, compared to other methods, our method can achieve an F1-measure of 80.6% when taking into account correlations between user’s personality traits, and there is an impressive improvement of 5.8% over other approaches.
Sohn, Sang-Hee; Joo, So-Hyun; Grable, John E.; Lee, Seonglim; Kim, Minjeung
The purpose of this study was to test the relationships between financial socialization agents, financial experiences, money attitudes, demographic characteristics, and the financial literacy of Korean adolescents. Using the 2006 Korean National Financial Literacy Test Survey for Adolescents (N = 1185), a series of regression analyses were…
Full Text Available Flooding has been reported more often than in the past in most cities of China in recent years. In response, China’s State Council has urged the 36 largest cities to update the preparedness to handle the 50-year rainfall, which would be a massive project with large investments. We propose a staged optimization design for updating urban drainage that is not only a flexible option against environmental changes, but also an effective way to reduce the cost of the project. The staged cost optimization model involving the hydraulic model was developed in Fuzhou City, China. This model was established to minimize the total present costs, including intervention costs and flooding costs, with full consideration of the constraints of specific local conditions. The results show that considerable financial savings could be achieved by a staged design rather than the implement-once scheme. The model’s sensitivities to four data parameters were analyzed, including rainfall increase rate, flood unit cost, storage unit cost, and discount rate. The results confirm the applicability and robustness of the model for updating drainage systems to meet the requirements. The findings of this study may have important implications on urban flood management in the cities of developing countries with limited construction investments.
Full Text Available This article proposes a brief foray into the situation of the European economy, but especially of the banking system of the Member States affected differently by the current world economic crisis, or recession, but especially for a detailed analysis of the New Multiannual Financial Framework for the period 2014-2020, with the priorities which appear to be distinct for the EU and for Romania. After a comparative analysis of European regulations on the agreements of the previous financial negotiated for the period 2014-2020, and Delors I (1988-1992, Delors II (1993-1999, the Agenda 2000 (2000-2006 and multiannual financial framework (2007- 2013 and ultimately the provisions of the Treaty of Lisbon (which convert multiannual financial framework in an essential act from a legal point of view; express personal opinions on Romania’s priorities and on the challenges and perspectives in the actual European and global context.
Han, S Duke; Boyle, Patricia A; Arfanakis, Konstantinos; Fleischman, Debra; Yu, Lei; James, Bryan D; Bennett, David A
Financial literacy, the ability to understand, access, and utilize information in ways that contribute to optimal financial outcomes, is important for independence and wellbeing in old age. We previously reported that financial literacy is associated with greater functional connectivity between brain regions in old age. Here, we tested the hypothesis that higher financial literacy would be associated with greater white matter integrity in old age. Participants included 346 persons without dementia (mean age=81.36, mean education=15.39, male/female=79/267, mean MMSE=28.52) from the Rush Memory and Aging Project. Financial literacy was assessed using a series of questions imbedded as part of an ongoing decision making study. White matter integrity was assessed with diffusion anisotropy measured with diffusion tensor magnetic resonance imaging (DTI). We tested the hypothesis that higher financial literacy is associated with higher diffusion anisotropy in white matter, adjusting for the effects of age, education, sex, and white matter hyperintense lesions. We then repeated the analysis also adjusting for cognitive function. Analyses revealed regions with significant positive associations between financial literacy and diffusion anisotropy, and many remained significant after accounting for cognitive function. White matter tracts connecting right hemisphere temporal-parietal brain regions were particularly implicated. Greater financial literacy is associated with higher diffusion anisotropy in white matter of nondemented older adults after adjusting for important covariates. These results suggest that financial literacy is positively associated with white matter integrity in old age. Copyright © 2016 The Authors. Published by Elsevier Inc. All rights reserved.
Full Text Available Tujuan dari penelitian ini adalah untuk menguji dan menganalisis pengaruh ciri-ciri kepribadian yang terdiri dari agreeableness, conscientiousness, body focus, materialism and need for arousal pada perencanaan keuangan keluarga. Sampel dari penelitian ini adalah pegawai Bank BTN Cabang Semarang dengan alat analisis kualitatif dan kuantitatif. Hasilnya menunjukkan bahwa variabel-variabel independen (Agreeableness, Conscientiousness, Body Focus, Materialism, dan Need for arrousal mempunyai pengaruh yang signifikan terhadap perencanaan keuangan keluarga. Sehingga dapat disimpulkan bahwa kurangnya kemampuan karyawan dalam mengelola keuangan karena faktor pengetahuan yang dimiliki dan kuatnya pengaruh psikologis pada diri mereka. Faktor psikologis seringkali dianggap sebagai faktor kunci dalam proses pembuatan keputusan manajemen keuangan keluarga. Semakin kuat aspek kepribadian suami dan istri sebagai manajer keuangan, semakin besar pengaruh keputusan psikologis terhadap keputusan keuangan. Gaya hidup, pola belanja yang tidak terencana, biaya sosial yang tidak dianggarkan, lingkungan, dan literasi manajemen keuangan menjadi faktor pendukung timbulnya manajemen yang buruk atau bahkan kegagalan The aim of this research is to examine and analyze the effect of personality traits that consists of agreeableness, conscientiousness, body focus, materialism and need for arousal on the family financial planning. The sample of this research is a group of people who are employees of the BTN Bank Semarang branch with qualitative and quantitative analysis tools. The result shows that independent variables (agreeableness, conscientiousness, body focus, materialism and need for arousal have significant effects on the family financial planning.It could be concluded that the lack of employee ability in how to manage family finance is caused by their own knowledge and their psychological factor. Psychological factor is often considered as a key factor in family
Full Text Available This paper tests the relative strength of three objective measures of financial health (using the solvency, liquidity, and investment asset ratio in predicting a household’s subjective feeling of current financial satisfaction. Using a sample of 6,923 respondents in the 2008 Health and Retirement Study this paper presents evidence of two main findings: 1 the solvency ratio is most strongly associated with financial satisfaction levels based on a cross-sectional design and 2 changes in the investment asset ratio are most strongly associated with changes in financial satisfaction over time.
Kobayashi, Kenji; Hsu, Ming
Adaptive decision making depends on an agent's ability to use environmental signals to reduce uncertainty. However, because of multiple types of uncertainty, agents must take into account not only the extent to which signals violate prior expectations but also whether uncertainty can be reduced in the first place. Here we studied how human brains of both sexes respond to signals under conditions of reducible and irreducible uncertainty. We show behaviorally that subjects' value updating was sensitive to the reducibility of uncertainty, and could be quantitatively characterized by a Bayesian model where agents ignore expectancy violations that do not update beliefs or values. Using fMRI, we found that neural processes underlying belief and value updating were separable from responses to expectancy violation, and that reducibility of uncertainty in value modulated connections from belief-updating regions to value-updating regions. Together, these results provide insights into how agents use knowledge about uncertainty to make better decisions while ignoring mere expectancy violation. SIGNIFICANCE STATEMENT To make good decisions, a person must observe the environment carefully, and use these observations to reduce uncertainty about consequences of actions. Importantly, uncertainty should not be reduced purely based on how surprising the observations are, particularly because in some cases uncertainty is not reducible. Here we show that the human brain indeed reduces uncertainty adaptively by taking into account the nature of uncertainty and ignoring mere surprise. Behaviorally, we show that human subjects reduce uncertainty in a quasioptimal Bayesian manner. Using fMRI, we characterize brain regions that may be involved in uncertainty reduction, as well as the network they constitute, and dissociate them from brain regions that respond to mere surprise. Copyright © 2017 the authors 0270-6474/17/376972-11$15.00/0.
Bangma, Dorien F.; Fuermaier, Anselm B. M.; Tucha, Lara; Tucha, Oliver; Koerts, Janneke
Objectives Financial decision-making (FDM) is crucial for independent living. Due to cognitive decline that accompanies normal aging, older adults might have difficulties in some aspects of FDM. However, an improved knowledge, personal experience and affective decision-making, which are also related
Full Text Available Rutgers Cooperative Extension developed an online self-assessment tool called the Personal Health and Finance Quiz available at http://njaes.rutgers.edu/money/health-finance-quiz/. Believed to be among the first public surveys to simultaneously query users about their health and personal finance practices, the quiz is part of Small Steps to Health and Wealth™ (SSHW, a Cooperative Extension program developed to motivate Americans to take action to improve both their health and personal finances (see http://njaes.rutgers.edu/sshw/. Respondents indicate one of four frequencies for performance of 20 daily activities and receive a Health, Finance, and Total score indicating their frequency of performing activities that health and financial experts recommend. In addition to providing users with personalized feedback, the quiz collects data for research about the health and financial practices of Americans to inform future Extension outreach and can be used as a pre-/post-test to evaluate the impact of SSHW programs. Initial research analyses are planned for 2015.
Full Text Available Broad and narrow approaches of the financial system are obtained. The difference between the financial system and the financial sector (the fi-nancial corporations sector is shown. Organizational and institutional matrix of the financial system of the economy is proposed. Key positions of institutional sectors classification of Ukraine’s economy are analyzed, as well as the System of National Accounts with respect to the financial sec-tor of corporations. The structure of the sector of financial corporations in Ukraine is defined.
This article reviewed the history of Zhong He Shanxi Uranium Enrichment Company, summarizing an efficient and systematical financial management method during both construction period and operational period of the company. It related to fundamental financial management structure building, integrated budgeting, fund management, cost management, asset management, tax planning and HR management. of financial staffs. (author)
Full Text Available Poor financial literacy may lead to poor life choices. These life choices can create or contribute to financial stress with adverse consequences - not the least of which may be homelessness. These issues are relatively well understood, but there is limited research on the link between financial stress, financial literacy and counselling, and homelessness. Specifically, there has been little research on how improved financial literacy and appropriate financial counselling might help to prevent homelessness. This paper synthesises existing literature on this topic and considers these issues using the ABCX family stress model of Hill (1958 using data from an Australian program aimed at alleviating family homelessness, the Home Advice Program. We provide evidence that suggests that case management and support which incorporates financial counselling and financial literacy can assist in moderating the impact of financial stress and help those at risk of homelessness. The findings have implications for public policy in the areas of financial education, consumer finance, and social services provision.
Full Text Available A financial time series agent-based model is reproduced and investigated by the statistical physics system, the finite-range interacting voter system. The voter system originally describes the collective behavior of voters who constantly update their positions on a particular topic, which is a continuous-time Markov process. In the proposed model, the fluctuations of stock price changes are attributed to the market information interaction amongst the traders and certain similarities of investors’ behaviors. Further, the complexity of return series of the financial model is studied in comparison with two real stock indexes, the Shanghai Stock Exchange Composite Index and the Hang Seng Index, by composite multiscale entropy analysis and recurrence analysis. The empirical research shows that the simulation data for the proposed model could grasp some natural features of actual markets to some extent.
Konicz, Agnieszka Karolina; Mulvey, John M.
of such financial decisions, especially in the retirement arena. They present as an example the choice to purchase a life annuity for a middle-aged person. Buyers must choose whether to purchase before retirement or at the date of retirement. The article provides some guidelines on whether or not to purchase......Individuals are often faced with financial decisions that have long-term implications for themselves and their families, but they have few sources of unbiased assistance. The authors suggest that a stochastic financial planning system, properly constructed and calibrated, can be applied to a number...... deferred life annuities, and who might most benefit from such a purchase....
Full Text Available What do inherited financial assets signify to heirs and testators and how does this shape their conduct? Based on grounded theory methodology and twenty open, thematically structured interviews with US heirs, future heirs and testators, this article explicates a theoretical account that proposes a moral ambivalence as the core category to understand the social meaning of inherited financial assets. In particular, the analysis reveals that the social meaning of inherited assets is a contingent, individual compromise between seeing inherited assets as unachieved wealth and seeing them as family means of support. Being the lifetime achievement of another person, inheritances are, on the one hand, morally dubious and thus difficult to appropriate. Yet in terms of family solidarity, inheritances are "family money," which is used when need arises. Taken from this angle, inheriting is not the transfer of one individual's privately held property to another person, but rather the succession of the social status as support-giver along with the resources that belong to this status to the family's next generation. Heirs need to find a personal compromise between these poles, which always leaves room for interpretation. http://nbn-resolving.de/urn:nbn:de:0114-fqs1401131
Han, S Duke; Boyle, Patricia A; James, Bryan D; Yu, Lei; Bennett, David A
To test the hypothesis that mild cognitive impairment (MCI) is associated with poorer financial and healthcare decision-making. Community-based epidemiological cohort study. Communities throughout northeastern Illinois. Older persons without dementia from the Rush Memory and Aging Project (N = 730). All participants underwent a detailed clinical evaluation and decision-making assessment using a measure that closely approximates materials used in real-world financial and healthcare settings. This allowed for measurement of total decision-making and financial and healthcare decision-making. Regression models were used to examine whether MCI was associated with a lower level of decision-making. In subsequent analyses, the relationship between specific cognitive systems (episodic memory, semantic memory, working memory, perceptual speed, visuospatial ability) and decision-making was explored in participants with MCI. MCI was associated with lower total, financial, and healthcare decision-making scores after accounting for the effects of age, education, and sex. The effect of MCI on total decision-making was equivalent to the effect of more than 10 additional years of age. Additional models showed that, when considering multiple cognitive systems, perceptual speed accounted for the most variance in decision-making in participants with MCI. Persons with MCI may have poorer financial and healthcare decision-making in real-world situations, and perceptual speed may be an important contributor to poorer decision-making in persons with MCI. © 2015, Copyright the Authors Journal compilation © 2015, The American Geriatrics Society.
... INSPECTION SERVICE AUTHORITY § 233.5 Requesting financial records from a financial institution. (a... Department of the U.S. Postal Service to request financial records from a financial institution pursuant to... authorized to request financial records of any customer from a financial institution pursuant to a formal...
Full Text Available Although cancer patients may incur a wide range of cancer-related out-of-pocket costs and experience reduced income, the consequences of this financial burden are poorly understood. We investigated: financial adjustments needed to cope with the cancer-related financial burden; financial distress (defined as a reaction to the state of personal finances; and factors that increase risk of financial difficulties. Two sets of semi-structured face-to-face interviews were conducted with 20 patients with breast, lung and prostate cancer and 21 hospital-based oncology social workers (OSWs in Ireland, which has a mixed public-private healthcare system. Participants were asked about: strategies to cope with the cancer-related financial burden; the impact of the financial burden on the family budget, other aspects of daily life, and wellbeing. OSWs were also asked about patient groups they thought were more likely to experience financial difficulties. The two interview sets were analysed separately using a thematic approach. Financial adjustments included: using savings; borrowing money; relying on family and friends for direct and indirect financial help; and cutting back on household spending. Financial distress was common. Financial difficulties were more likely for patients who were older or younger, working at diagnosis, lacked social support, had dependent children, had low income or had few savings. These issues often interacted with one another. As has been seen in predominantly publically and predominantly privately-funded healthcare settings, a complex mixed public-private healthcare system does not always provide adequate financial protection post-cancer. Our findings highlight the need for a broader set of metrics to measure the financial impact of cancer (and to assess financial protection in health more generally; these should include: out-of-pocket direct medical and non-medical costs; changes in income; financial adjustments (including
Timmons, Aileen; Gooberman-Hill, Rachael; Sharp, Linda
Although cancer patients may incur a wide range of cancer-related out-of-pocket costs and experience reduced income, the consequences of this financial burden are poorly understood. We investigated: financial adjustments needed to cope with the cancer-related financial burden; financial distress (defined as a reaction to the state of personal finances); and factors that increase risk of financial difficulties. Two sets of semi-structured face-to-face interviews were conducted with 20 patients with breast, lung and prostate cancer and 21 hospital-based oncology social workers (OSWs) in Ireland, which has a mixed public-private healthcare system. Participants were asked about: strategies to cope with the cancer-related financial burden; the impact of the financial burden on the family budget, other aspects of daily life, and wellbeing. OSWs were also asked about patient groups they thought were more likely to experience financial difficulties. The two interview sets were analysed separately using a thematic approach. Financial adjustments included: using savings; borrowing money; relying on family and friends for direct and indirect financial help; and cutting back on household spending. Financial distress was common. Financial difficulties were more likely for patients who were older or younger, working at diagnosis, lacked social support, had dependent children, had low income or had few savings. These issues often interacted with one another. As has been seen in predominantly publically and predominantly privately-funded healthcare settings, a complex mixed public-private healthcare system does not always provide adequate financial protection post-cancer. Our findings highlight the need for a broader set of metrics to measure the financial impact of cancer (and to assess financial protection in health more generally); these should include: out-of-pocket direct medical and non-medical costs; changes in income; financial adjustments (including financial coping
LI Zhengwei; XIA Shixiong; NIU Qiang; XIA Zhanguo
At present, how to enable Search Engine to construct user personal interest model initially, master user's personalized information timely and provide personalized services accurately have become the hotspot in the research of Search Engine area.Aiming at the problems of user model's construction and combining techniques of manual customization modeling and automatic analytical modeling, a User Interest Model (UIM) is proposed in the paper. On the basis of it, the corresponding establishment and update algorithms of User Interest Profile (UIP) are presented subsequently. Simulation tests proved that the UIM proposed and corresponding algorithms could enhance the retrieval precision effectively and have superior adaptability.
This article focuses on analyzing of a consolidated financial statements of a hypothetically SME. The interpretation of the financial position and performances is based on the more than 40 financial key ratios computed by using financial data from consolidated income statement, consolidated financial position and cash flow. However additional data from notes to financial statements are provided.
Duke Han, S.; Boyle, Patricia A.; James, Bryan D.; Yu, Lei; Bennett, David A.
Background/Objectives Financial and healthcare decision making are important for maintaining wellbeing and independence in old age. We tested the hypothesis that Mild Cognitive Impairment (MCI) is associated with poorer decision making in financial and healthcare matters. Design Community-based epidemiologic cohort study. Setting Communities throughout Northeastern Illinois. Participants Participants were 730 older nondemented persons from the Rush Memory and Aging Project. Measurements All participants underwent a detailed clinical evaluation and decision making assessment using a measure that closely approximates materials utilized in real world financial and healthcare settings. This allowed for measurement of total decision making, as well as financial and healthcare decision making. Regression models were used to examine whether the presence of MCI was associated with a lower level of decision making. In subsequent analyses, we explored the relation of specific cognitive systems (i.e., episodic memory, semantic memory, working memory, perceptual speed, and visuospatial ability) with decision making in those with MCI. Results Results showed that MCI was associated with lower decision making total scores as well as financial and healthcare scores, respectively, after accounting for the effects of age, education, and sex. The effect of MCI on total decision making was equivalent to the effect of more than 10 additional years of age. Additional models showed that when considering multiple cognitive systems, perceptual speed accounted for the most variance in decision making among participants with MCI. Conclusion Results suggest that persons with MCI may exhibit poorer financial and healthcare decision making in real world situations, and that perceptual speed may be an important contributor to poorer decision making among persons with MCI. PMID:25850350
Tian, W.; Zhu, X.; Liu, Y.
Currently, the top-down spatial data update mechanism has made a big progress and it is wildly applied in many SDI (spatial data infrastructure). However, this mechanism still has some issues. For example, the update schedule is limited by the professional department's project, usually which is too long for the end-user; the data form collection to public cost too much time and energy for professional department; the details of geospatial information does not provide sufficient attribute, etc. Thus, how to deal with the problems has become the effective shortcut. Emerging Internet technology, 3S technique and geographic information knowledge which is popular in the public promote the booming development of geoscience in volunteered geospatial information. Volunteered geospatial information is the current "hotspot", which attracts many researchers to study its data quality and credibility, accuracy, sustainability, social benefit, application and so on. In addition to this, a few scholars also pay attention to the value of VGI to support the SDI updating. And on that basis, this paper presents a bottom-up update mechanism form VGI to SDI, which includes the processes of match homonymous elements between VGI and SDI vector data , change data detection, SDI spatial database update and new data product publication to end-users. Then, the proposed updating cycle is deeply discussed about the feasibility of which can detect the changed elements in time and shorten the update period, provide more accurate geometry and attribute data for spatial data infrastructure and support update propagation.
Anciaux, Nicolas; Bouganim, Luc; Nquyen, Benjamin
How do you keep a secret about your personal life in an age where your daughter's glasses record and share everything she senses, your wallet records and shares your financial transactions, and your set-top box records and shares your family's energy consumption? Your personal data has become......, could trigger a sea change. We propose the vision of trusted cells: personal data servers running on secure smart phones, set-top boxes, secure portable tokens or smart cards to form a global, decentralized data platform that provides security yet enables innovative applications. We motivate our...
Kessler, Yoav; Oberauer, Klaus
Updating and maintenance of information are 2 conflicting demands on working memory (WM). We examined the time required to update WM (updating latency) as a function of the sequence of updated and not-updated items within a list. Participants held a list of items in WM and updated a variable subset of them in each trial. Four experiments that vary…
This talks describes updates in the following updates in FRMAC publications concerning radiation emergencies: Monitoring and Analysis Manual; Evaluation and Assessment Manual; Handshake Series (Biannual) including exercises participated in; environmental Data and Instrument Transmission System (EDITS); Plume in a Box with all radiological data stored onto a hand-held computer; and courses given
Considering the current complexity of financial markets and of financial instruments and services, financial education is part of population’s financial literacy and it ranks as paramount factor in the complex for the financial markets development.
Full Text Available The results of a business activity are concentrated in the financial reports; accounting is the instrument that provides these reports to internal and external users in order to help users to make useful economic decisions. At international level, the accounting is standardized by IASB (former IASC which elaborate financial reporting standards (known as IAS / IFRS in order to improve the quality and transparency of reporting. The changes in business environment (globalization, mergers and acquisition transactions, internationalization, corporate social implications requires a continuous updated of financial reporting. The accounting information is useful to their users if comply with quality characteristics, defined through the Conceptual Framework of Financial Reporting issued by IASB (the new form of Conceptual Framework is in place starting 2010. Starting 1990, the researchers (namely academics had to focus on new kind of works about accounting and accounting research; the process was difficult and is not end. Initially, the academics inspired from French accounting books and translated them with some changes/improvements correlated to Romanian economy. Gradually, some journals founded and the academics and practitioners begin to publish their work in a more scientific manner. In this paper, we will try to present an evolution of financial reporting in Romania, to identify if the alignment to international financial reporting standards improved the quality of reporting, and to investigate whether the adoption of the International Financial Reporting Standards for the individual financial statements of Romanian listed entities has improved the value relevance of the accounting numbers. The study uses data of entities listed on the Bucharest Stock Exchange, prior and post the adoption of the International Financial Reporting Standards for the individual financial statements. The year 2012 represents the year in which Romanian entities listed on
Auciello, Daria Joy
This dissertation consists of two essays which examine the relationship between dyslexia and the application and acquisition of financial knowledge. Recent behavioral research has documented that factors such as representativeness, overconfidence, loss aversion, naivete, wealth, age and gender all impact a person's risk perception and asset…
van Praag, B.M.S.; Romanov, D.; Ferrer-i-Carbonell, A.
We analyze individual satisfaction with life as a whole and satisfaction with the personal financial situation for Israeli citizens of Jewish and Arab descent. Our data set is the Israeli Social Survey (2006). We are especially interested in the impact of the religions Judaism, Islam and
Abstract There is concern about lack of financial literacy and need for financial literacy education, but little or no attempt to understand their nature. Three questions were asked: 'What is financial literacy?', 'What is financial literacy education?' and 'What might be the components of an effective financial literacy curriculum?'. Adopting an inductive grounded theory approach and a pragmatist philosophy, in association with real-world organisations such as the National ...
Research that is dealing with financial literacy turns to be such an important thing to be conducted. It is due to the fact that financial literacy level of Indonesian society is still very low. A good financial literacy is necessary for every individual to manage his/her finances to achieve prosperity. To have a good level of financial literacy,…
The subject of this paper is a study of the effects on mortality of occupational exposure to ionizing radiation at the Hanford plant. The Hanford plant, which is located in southeastern Washington State, was established in the early forties as an installation for plutonium production. Many workers employed by the various contractors hold jobs involving some exposure to radiation. Yearly records of this exposure, obtained from dosimeter readings, as well as occupational data, are maintained for all employees. Mortality data are obtained by having the Social Security Administration periodically search their records for deaths of persons identified in the personnel rosters of Hanford contractors. Published analyses of worker mortality at Hanford have included workers initially employed before 1965 and mortality up to April 1, 1974. In this paper, the mortality data are updated to include deaths up to May 1, 1977, workers employed 1965 and later, and the most recent exposure data. In addition to updating results of earlier analyses, this paper provides a discussion of the problems involved in analyzing and interpreting occupational exposure and mortality data. For a more detailed discussion of these problems the reader is referred to the papers noted above
Dănuţ Vasile JEMNA
Full Text Available Local autonomy is a rarely explored concept in the literature, still holding an increasing importance in the current context of Romania’s development in the European Union. In this paper we attempt to provide an overall survey on the financial dimension of local autonomy, assuming that local autonomy cannot be implemented, unless local authorities have adequate financial resources. In this study we also analyze the possibility to measure the local revenue autonomy and to identify the variables which represent the determinants of the local revenue autonomy. Using empirical evidence from Romanian counties, we analyze the regional distributions for own revenues and for the significant determinants of local revenue autonomy. By means of econometric modeling we will highlight the variables which are statistically significant and explain the variation of the local revenues of Romanian counties, as well as the order of importance of the determinants of local financial autonomy. The empirical results show us that, although, theoretically, the counties have a great administrative and financial autonomy, practically this autonomy is very reduced (an average of under 40% for local revenue. The modeling results show that the degree of local financial autonomy can be increased by increasing economic development, urbanization, the average living area per person and fertility. Unemployment and a high level of demographic dependency contribute to the decrease of local financial autonomy.
Zhao, Mei; Haley, D Rob; Oetjen, Reid M; Carretta, Henry J
Florida's nursing home industry has experienced significant financial pressure over the past decade. One of the primary reasons is the dramatic increase in litigation activity for nursing home providers claiming negligent care and abuse. Although anecdotal reports indicate a higher cost because of malpractice in nursing facilities, few studies have examined the extent of malpractice paid losses and their effect on the financial performance of nursing homes. The purpose of this study was to examine the impact of malpractice paid losses on the financial performance of nursing homes. Medicare Cost Report data and Online Survey, Certification, and Reporting data for Florida skilled nursing facilities over the 6-year period from 2001 to 2006 were used to calculate the malpractice paid losses and the financial performance indicators as well as the nursing home organizational and market factors. Descriptive analysis and multivariate regression analysis were used to examine the effect of paid loss on financial performance. The paid loss for malpractice claims was strongly associated with financial performance. Nursing facilities with malpractice paid losses had consistently lower total margins over the study period. The threat of nursing home litigation may create an incentive for nursing homes to improve quality of care; however, large paid claims can also force nursing homes into a financial situation where the organization no longer has the resources to improve quality. Nursing home managers must assess their malpractice litigation risk and identify tactics to mitigate these risks to better provide a safe and secure environment for the older persons. In addition, this research offers support for local, state, and federal policymakers to revisit the issue of malpractice litigation and the nursing home industry through its insight on the relationship of nursing home margins and litigation.
Lucíola Aor Vasconcelos
Full Text Available This paper has the purpose examine the ability to predict when the application of fundamental financial analysis for the granting of personal loans in relation to the default prediction of Brazilian companies listed on the BM&FBovespa through a case study of a financial institution. Our sample consists of firms listed on the Brazilian stock exchange that were included in the credit portfolio of a financial institution in the period 2008-2012. Based on a discriminant analysis, five accounting indicators were selected for having the highest predictive capacity concerning default events: Net Working Capital, Asset Turnover, Debt Ratio, Bovespa’s index participation and the Retained Earnings’ Index. Afterwards, macroeconomic variables GDP and Base Interest Rate, as well as accounting indicators weighted by industry sector and estimated by means of vector autoregressive models were included to a logit model. Statistical tests have shown that the estimation by means of autoregressive models is relevant only when accounting variables are used but not when the macroeconomic variables are included. The results indicate that although the macroeconomic variables have not shown to be individually relevant in the estimation of default events in the proposed model, the model with both accounting variables and macroeconomic variables has proved to be more robust, with a success rate of 97.3% for the latter against 95.3% for the former.
Britt, Sonya L.; Canale, Anthony; Fernatt, Fred; Stutz, Kristen; Tibbetts, Racquel
This study had two distinct purposes. First, to determine the predictors of financial stress among college students who sought free peer-based financial counseling from a large Midwestern university (N = 675). Secondly, to determine the effectiveness of the particular financial counseling center from a subsample of those who sought help (N = 97).…
Conlan, Owen; Dagger, Declan; Wade, Vincent
E-Learning systems that produce personalized course offerings for the learner are often expensive, both from a time and financial perspective, to develop and maintain. Learning content personalized to a learners' cognitive preferences has been shown to produce more effective learning, however many approaches to realizing this form of…
Ganschow, Pamela S; Jacobs, Elizabeth A; Mackinnon, Jennifer; Charney, Pamela
average 50-year-old woman, is provided in the guidelines. In addition, available risk prediction models, such as the NIH Web site calculator (http://www.cancer.gov/bcrisktool/) can also be used to estimate quantitative breast cancer risk. This model was updated in 2008 with race-specific data for calculating risk in African-American women.18 The harms and benefits of mammography should be discussed and incorporated along with a woman's preferences and breast cancer risk profile into the decision on when to begin screening. If a woman decides to forgo mammography, the decision should be readdressed every 1 to 2 years. STD screening guidelines19 USPSTF and CDC Routine screening for this infection is now recommended for ALL sexually active women age 24 and under, based on the recent high prevalence estimates for chlamydia It is not recommended for women (pregnant or nonpregnant) age 25 and older, unless they are at increased risk for infection. STD treatment guidelines20 CDC Flouroquinolones are NO longer recommended for treatment of N. gonorrhea, due to increasing resistance (as high as 15% of isolates in 2006). For uncomplicated infections, treatment of gonorrhea should be initiated with ceftriaxone 125 mg IM or cefixime 400 mg PO and co-treatment for chlamydia infection (unless ruled out with testing). Recent estimates demonstrate that almost 50% of persons with gonorrhea have concomitant chlamydia infection21. STD = sexually transmitted disease, NIH = National Institutes of Health, ACP = American College of Physicians, USPSTF = United States Prevention Services Task Force, CDC = Centers for Disease Control.
Ioana Ancuta Iancu
Full Text Available When we think about promotion in financial investment services companies, we have to consider, not only the offline or traditional type of promotion (personal communication, advertising, sales promotion, public relations and organization identity but online promotion as well. Due to the fact that for more and more people, Internet represents the most important mean of communication, financial investment services companies marketing specialists have a variety of tools at hand. In this study we will describe the most important online promotion tools, like: E-mail Marketing, advertising, search engines, networks socialization, M-Marketing and promotion through web pages. Specific methods of online promotion enable real-time knowledge of the investor’s behavior and can also address to them most effectively. The purpose of this theoretical study is to increase the rate of knowledge and usage of online marketing, in a very conservatory sector of the financial market: Financial Investment Services Companies Marketing. By promoting online a company, a product or a service the marketing specialists can target specific customer, segments and quantify results, which is almost impossible on such a scale and with such precision by traditional methods of promotion. Based on the literature and our own experience, methods were taken up and adapted in financial investment services companies. We show the present state of online marketing, make proposals and describe difficulties which can be encountered when an e-marketing strategy is made. The conclusion of our study is that more and more companies use online tools in their marketing strategies. There is a change in attitude by the Financial Investment Services Companies web pages: from a reserved one in 2010 to one open to innovation in 2015; we believe that SSIF Broker is an illustrative example in this regard. Instead, our opinion is that Search Engine Optimization should be used more by SSIF Broker
Brady, Richard T.
Federal agencies have traditionally prepared financial reports to monitor and report the obligation and expenditure of federal funding. With the passage of the Chief Financial Officers Act of 1990, Congress called for the production of financial statements that fully disclose a federal entity's financial position and results of operations. The disclosure of this type of information, it was believed, would enable decision-makers to understand the financial implications of budgetary, policy and...
G. Cette.; J.-P. Villetelle.
This study, based on recent company statistics from national accounts and financial statements, shows a deterioration in the financial position of French non-financial corporations. This is affecting their performances and is prompting them to diversify their sources of funding in order to rationalise their financial structure.
Ayuba A. Aminu
Full Text Available The importance of financial ethics and its application in financial reporting of banks cannot be ignored as it assists in building public confidence and fostering professionalism. However, the non-compliance and conformity with Nigerian Financial Regulatory Authorities prudential guidelines in the preparation of financial statements lead to incomplete or false information. The objective of the study is to examine the application of financial ethics in annual financial reporting of banks. The study employed primary and secondary data and stratified and purposive sampling techniques were used in which 20 questionnaires were administered to respondents. ANOVA and chi-square were in analysis and the findings revealed that there are significant unethical practices in the preparation of financial reports of banks in Nigeria. The study recommends that more emphasis and attention should be given to ethical standards in all banks and banks should give out clear reports of their financial activities to the regulatory authorities.
Md. Nur Alam Siddik
Full Text Available In recent times, financial inclusion and financial stability issue have become a priority on policy agendas across the world. However, there is relative dearth of empirical studies addressing and establishing the link between the same. This study fills this gap. Using panel data of 2001-2013, this study empirically investigated whether financial inclusion contributes to country’s financial stability, measured by Z-score. Robust results from GMM dynamic panel data estimator show that financial inclusion variables as measured by number of SME borrowers to total borrowers and ratio of outstanding SME loans to total loans have significant positive contributions to financial stability. Findings also indicate that GDP per capita, liquidity, proportion of private credit to GDP are positively and proportion of domestic credit provided to private sector and financial crisis are negatively associated with financial stability. Empirical findings of this study is of greater significance to the policymakers as it will invoke the attention of governments and policymakers to undertake such policies to accelerate financial inclusion of their countries which in turn will lead to country’s greater financial stability. This study also contributes to empirical literatures of the issue of financial inclusion and financial stability by reconfirming (or otherwise findings of previous studies.
João Manoel Pinho de Mello; Márcio Gomes Pinto Garcia
Since the conquest of hyperinflation, with the Real Plan, in 1994, the Brazilian financial system has grown from early infancy to late adolescence. We describe the process of maturing with emphasis on the defining features of the Brazilian financial system over the last 20 years: 1) stabilization and the subsequent financial crisis; 2) universality of banks; 3) market segmentation through public lending; 4) institutional improvement. Further paraphrasing Díaz Alejandro (1984), we raise some h...
Starting from Novabase’s challenge to launch in the UK Millennials a personal financial advisor mobile application, this work project aims to build a planning model to frame a business side of a launch strategy for mobile application in similar market and category. This study culminates on the design of SPOSTAC planning model. The created framework is intended to effectively and efficiently plan a launch strategy, being structured based on seven sequential elements: Situation, Product, Object...
Full Text Available The financial intermediation of bank institutions, has an essential role in mobilising of the available funds and their distribution in various products and services, for economic growth. The extent that banking system is in distress or passing through a period of crisis, then, everything turns into a general crisis, especially that, in some states, natural and legal persons have been learned ,,to live’’ on the credits.The effectiveness of banking intermediation activity in Romania depends on how fast the market is enabled under the influence of the new European regulations. The Romanian market in all its forms is the second largest in the EU, and the banking system is almost entirely made up of banks with foreign capital. The romanian banking market has not suffered so much because of the financial crisis. To the extent that banking institutions provide the necessary funds, Romania has important resources for the transition to a new economic cycle based on sustainable development.
... shareholders, and does not involve a conflict of interest from which the Adviser or the Affiliated Subadviser... shareholder approval. Applicants: Highland Associates, Inc. (the ``Adviser'') and Financial Investors Trust... be issued unless the Commission orders a hearing. Interested persons may request a hearing by writing...
Full Text Available Is domain-general memory updating ability predictive of calculation skills or are such skills better predicted by the capacity for updating specifically numerical information? Here, we used multidigit mental multiplication (MMM as a measure for calculating skill as this operation requires the accurate maintenance and updating of information in addition to skills needed for arithmetic more generally. In Experiment 1, we found that only individual differences with regard to a task updating numerical information following addition (MUcalc could predict the performance of MMM, perhaps owing to common elements between the task and MMM. In Experiment 2, new updating tasks were designed to clarify this: a spatial updating task with no numbers, a numerical task with no calculation, and a word task. The results showed that both MUcalc and the spatial task were able to predict the performance of MMM but only with the more difficult problems, while other updating tasks did not predict performance. It is concluded that relevant processes involved in updating the contents of working memory support mental arithmetic in adults.
In recent years, as workers have gained an unprecedented degree of control over their pensions and savings, the importance of financial literacy and financial education has increased considerably. Large changes in the structure of financial markets, labor markets, and demographics in developed countries have led to this change. Consumers have a bewildering array of complex financial products – from reverse mortgages to annuities – to choose from, making saving decisions increasingly complex. ...
1 Abstract/ Financial derivatives The purpose of this thesis is to provide an introduction to financial derivatives which has been, from the legal perspective, described in a not satisfactory manner as quite little literature that can be found about this topic. The main objectives of this thesis are to define the term "financial derivatives" and its particular types and to analyse legal nature of these financial instruments. The last objective is to try to draft future law regulation of finan...
Dorel BERCEANU; Nicolae SICHIGEA; Marcel DRĂCEA
This paper addresses a very topical issue, namely the importance in assessing the company's financial accounts. Thus, after a brief role in evaluating company financial diagnosis and approaches related to the concept of financial balance, we presented the financial balance sheet in terms of logic building financial stability analysis. At the end of the paper were presented some conclusions.
Full Text Available Using annual data from 1997–2014 of 30 provinces, municipalities, and autonomous regions, subdividing trended and cyclical volatility of macroeconomics and inflation, considering different indicators of financial development and financial structure, this paper investigated the impact of financial development and financial structure on macroeconomic volatility. The empirical results found that (1 the trended and cyclical volatility of the previous macroeconomic period had a significantly positive impact on that of the current period, and the impact of trended volatility was greater than that of cyclical volatility; (2 financial development had a significantly negative impact on macroeconomic cyclical volatility through inflation cyclical volatility, but inflation trended volatility would amplify macroeconomic volatility; financial markets have no significant effect on macroeconomic volatility; financial structure measured with the ratio of stock market turnover and the efficiency of the financial development had a significant positive impact on macroeconomic cyclical volatility; and (3 inflation trended volatility had a significantly negative impact on macroeconomic cyclical volatility and trended volatility, while inflation cyclical volatility had a significantly positive impact on macroeconomic cyclical volatility.
Full Text Available Company's ability to survive is a fundamental uncertainty faced in the preparation and auditing financial statements. Provision of going-concern opinion on these financial statements the company is still being debated. Public Accountant Professional Standards in section 341 states that the auditor is responsible for evaluating whether there is a major doubt on the ability of entities in the continued survival of the appropriate period of time, not more than one year from the date of the financial statements being audited. This research analyzed the financial and non financial factors that affected the provision of going-concern opinion. This research used samples of 63 companies with 315 observations, taken from years 2005-2009. The logistic regression analysis showed that the company's financial condition variables, mitigating evidence, and disclosure significantly influence the acceptance of going-concern opinion. Enterprise risk was not significant at propensity of going-concern opinion.
Oh, In-Sue; Kim, Seongsu; Van Iddekinge, Chad H
Drawing on the attraction-selection-attrition perspective, strategic human resource management (SHRM) scholarship, and recent human capital research, this study explores organization-level emergence of personality (i.e., personality-based human capital resources) and its direct, interactive, and (conditional) indirect effects on organization-level outcomes based on data from 6,709 managers across 71 firms. Results indicate that organization-level mean emotional stability, extraversion, and conscientiousness are positively related to organization-level managerial job satisfaction and labor productivity but not to financial performance. Furthermore, organization-level mean and variance in emotional stability interact to predict all three organization-level outcomes, and organization-level mean and variance in extraversion interact to predict firm financial performance. Specifically, the positive effects of organization-level mean emotional stability and extraversion are stronger when organization-level variance in these traits is lower. Finally, organization-level mean emotional stability, extraversion, and conscientiousness are all positively related to firm financial performance indirectly via labor productivity, and the indirect effects are more positive when organization-level variance in those personality traits is lower. Overall, the findings suggest that personality-based human capital resources demonstrate tangible effects on organization-level outcomes. Theoretical and practical implications of these findings are discussed along with study limitations and future research directions. (c) 2015 APA, all rights reserved.
... 25 Indians 2 2010-04-01 2010-04-01 false What types of personal conflicts of interest involving... ASSISTANCE ACT Conflicts of Interest § 900.234 What types of personal conflicts of interest involving tribal... in which that person has a financial or employment interest that conflicts with that of the trust...
Frederic S. Mishkin
This paper outlines a set of financial policies that can help make financial crises less likely in emerging market countries. To justify these policies, the paper first explains what a financial crisis is, the factors that promote a financial crisis and the dynamics of a financial crisis. It then examines twelve basic areas of financial policies to prevent financial crises: 1) prudential supervision, 2) accounting and disclosure requirements, 3) legal and judicial systems, 4) market-based dis...
Huang, Wei-Qiang; Zhuang, Xin-Tian; Yao, Shuang; Uryasev, Stan
This study considers the effects of the financial institutions' local topology structure in the financial network on their systemic risk contribution using data from the Chinese stock market. We first measure the systemic risk contribution with the Conditional Value-at-Risk (CoVaR) which is estimated by applying dynamic conditional correlation multivariate GARCH model (DCC-MVGARCH). Financial networks are constructed from dynamic conditional correlations (DCC) with graph filtering method of minimum spanning trees (MSTs). Then we investigate dynamics of systemic risk contributions of financial institution. Also we study dynamics of financial institution's local topology structure in the financial network. Finally, we analyze the quantitative relationships between the local topology structure and systemic risk contribution with panel data regression analysis. We find that financial institutions with greater node strength, larger node betweenness centrality, larger node closeness centrality and larger node clustering coefficient tend to be associated with larger systemic risk contributions.
The present paperwork contains issues regarding financial reporting at the public institutions and non – financial entities. The main aspects are regarding the obligation of all entities to present the financial statements, the content of financial statements in public institutions and non-financial entities. Also, is presented the similarities and the differences aspects between financial reporting of these two patrimonial entities.
Full Text Available Introduction: the article considers the factors that determine the financial education of young people. Modern young men and women have a low financial literacy, despite the efforts for improving financial competence. This situation may threaten their personal and public financial security. The article proposes a new methodology for the theoretical and practical training of the young generation in making well-balanced and informed financial decisions. Materials and Methods: the domestic and international scientific literature on financial education has highlighted several approaches to the problem. The analysis of methods with comparison of domestic and foreign pedagogic theory and practice was made in the paper. The tests and questionnaires were developed by the authors to assess the financial literacy of students and schoolchildren. Results: insufficient level of financial competence of young people is revealed. The structure of the new curriculum on obtaining financial knowledge by high school students and university students is presented. Recommendations on the use of tests to assess the level of financial competence of young people are proposed. The study results were verified in high schools and at the University. The new methodology demonstrated its effectiveness. Discussions and Conclusions: modern educational programmes should comply with and meet the challenges of a current dynamically evolving society. The modern changing world pays more attention to financial aspects of human activities. The practical importance of the study lies in the use of new intellectual approaches to teaching financial competence in high schools and universities. The proposed recommendations on the organisation of financial education for the young people in Russia contribute to the formation of financial literacy and skills of students and seniour schoolchildren. The results of the research can be useful to specialists in the field of education and the
Jothi, A Lenin
Financial services, particularly banking and insurance services is the prominent sector for the development of a nation. After the liberalisation of financial sector in India, the scope of getting career opportunities has been widened. It is heartening to note that various universities in India have introduced professional courses on banking and insurance. A new field of applied mathematics has come into prominence under the name of Financial Mathematics. Financial mathematics has attained much importance in the recent years because of the role played by mathematical concepts in decision - m
.... With the passage of the Chief Financial Officers Act of 1990, Congress called for the production of financial statements that fully disclose a federal entity's financial position and results of operations...
Levine, Jane; Gussow, Joan Dye; Hastings, Diane; Eccher, Amy
This study examined the association between authors' published positions on the safety and efficacy in assisting with weight loss of the Procter & Gamble (P&G) fat substitute olestra and their financial relationships with the food and beverage industry. Journal articles about olestra, and their authors, were classified as supportive, critical, or neutral with respect to its use. Authors not known to have industry affiliations were surveyed about their financial relationships. Supportive authors were significantly more likely than critical or neutral authors to have financial relationships with P&G (80% vs 11% and 21%, respectively; P <.0001). All authors disclosing an affiliation with P&G were supportive. Because authors' published opinions were associated with their financial relationships, obtaining noncommercial funding may be more essential to maintaining objectivity than disclosing personal financial interests.
Khorosheva Olena I.
The goal of the article lies in identification of grounds of interconnection of the financial economy and financial system. The study was conducted with consideration of main provisions of the theory of finance and concept of financial economy, which is a set of means used in the process of reproduction of finance by their owner for formation and / or maintenance of the own system of values in the viable state. For the first time ever the structure of the financial system is identified as an ...
The objective of the thesis was to analyse everyday responsibilities of an e-accountant employed in a modern fast-paced industry. The thesis was conducted by reflecting on daily activities for a period of 10 weeks in the form of a work dairy. The diary covers every day task set, experiences as well as performing processes of various financial management tasks. The result of this study provided with a track of personal progress and an opportunity to study different processes and work environme...
van Thiel, D.; van Raaij, W.F.
The purpose of this study is to develop the world’s first psychographic market segmentation model that supports personalization, customer education, customer activation, and customer engagement strategies with financial advice robots. As traditional segmentation models in consumer finance primarily focus on externally observed demographics or economic criteria such as profession, age, income, or wealth, post-hoc psychographic segmentation further supports personalization in the digital adviso...
Lusardi, Annamaria; Mitchell, Olivia S.; Curto, Vilsa
Using a special-purpose module implemented in the Health and Retirement Study, we evaluate financial sophistication in the American population over the age of 50. We combine several financial literacy questions into an overall index to highlight which questions best capture financial sophistication and examine the sensitivity of financial literacy responses to framing effects. Results show that many older respondents are not financially sophisticated: they fail to grasp essential aspects of risk diversification, asset valuation, portfolio choice, and investment fees. Subgroups with notable deficits include women, the least educated, non-Whites, and those over age 75. In view of the fact that retirees increasingly must take on responsibility for their own retirement security, such meager levels of knowledge have potentially serious and negative implications. PMID:28553191
Lusardi, Annamaria; Mitchell, Olivia S; Curto, Vilsa
Using a special-purpose module implemented in the Health and Retirement Study, we evaluate financial sophistication in the American population over the age of 50. We combine several financial literacy questions into an overall index to highlight which questions best capture financial sophistication and examine the sensitivity of financial literacy responses to framing effects. Results show that many older respondents are not financially sophisticated: they fail to grasp essential aspects of risk diversification, asset valuation, portfolio choice, and investment fees. Subgroups with notable deficits include women, the least educated, non-Whites, and those over age 75. In view of the fact that retirees increasingly must take on responsibility for their own retirement security, such meager levels of knowledge have potentially serious and negative implications.
Seitz, Michael J; Köster, Gerta
Time discretization is a key modeling aspect of dynamic computer simulations. In current pedestrian motion models based on discrete events, e.g. cellular automata and the Optimal Steps Model, fixed-order sequential updates and shuffle updates are prevalent. We propose to use event-driven updates that process events in the order they occur, and thus better match natural movement. In addition, we present a parallel update with collision detection and resolution for situations where computational speed is crucial. Two simulation studies serve to demonstrate the practical impact of the choice of update scheme. Not only do density-speed relations differ, but there is a statistically significant effect on evacuation times. Fixed-order sequential and random shuffle updates with a short update period come close to event-driven updates. The parallel update scheme overestimates evacuation times. All schemes can be employed for arbitrary simulation models with discrete events, such as car traffic or animal behavior. (paper)
Sorin Gabriel Anton
Full Text Available Financial risk management has rapidly evolved over the past two decades and has become an indispensable function in many institutions from different area of activities. In the last two decades, as the financial markets have become more and more mature, an increasing number of firms from emerging economies have chosen to use derivatives to hedge financial risks. As a result, risk management with financial derivatives has attracted much attention recently, becoming an important topic in the financial literature. However, we know little about the use of financial derivatives by firms from emerging economies and about the effect of these instruments on firms’ risk and value. The aim of the paper is to provide new insights into the use of financial derivatives for hedging purpose by non-financial firms from emerging markets. We analyzed risk management practices on a sample of 68 non-financial firms listed at Bucharest Stock Exchange (BSE over a long time frame (2001 to 2011. We found that Romanian non-financial firms from our sample are exposed mainly to commodity price risk, currency risk, interest rate risk, and liquidity risk. More than half of the firms in our sample (55.88% publish in their annual reports the goal of risk management process. Our results show that 10.29% of non-financial firms in our sample use financial derivatives to hedge their currency, interest rate or commodity price risks. We also found that the volatility caused by the global financial crisis determined many firms to use financial derivatives over the period 2007-2011. Nevertheless, the use of financial derivatives by Romanian non-financial firms is low relative to values registered for other emerging economies. The most important factors that hindered the use of financial derivatives have been the low liquidity of exchange derivatives markets, high hedging costs, and the lack of risk management expertise. The traditional approach of managing risks individually is
Newton-Howes, Giles; Foulds, James
As personality disorder impacts the outcome of most major mental disorders, it would be consistent for it to impact negatively on the outcome of alcohol use disorders (AUDs). This update is to provide an up-to-date overview of the recent literature examining the impact of personality disorder and personality traits on the treatment outcome of AUDs. Comorbidity between personality disorder and AUD is significant and approaches 50%. Patients with AUD and comorbid personality disorder are substantially less likely to remain in treatment, drink more per drinking day and drink more frequently. If retained in treatment, comorbidity does not, however, lead to poorer outcomes. Relapse to drinking is more common in patient with high novelty seeking and lower reward dependence and persistence. Reporting from most studies is of moderate-to-poor quality and a single high-quality study may alter these findings. Landmark alcohol studies are notably quiet on the impact of personality on AUD treatment outcome. Both personality disorder and higher novelty seeking impact negatively on the treatment outcome of AUD. As personality disorder is common in this group, clinicians engaged in AUD treatment should screen for personality disturbance, either disorder or high novelty seeking.
S. V. Suchkov
Full Text Available The article considers the key problems of the transition of the national health system to a new platform of personalized medicine and, in particular, pediatrics. In the second part, published in this issue, the main mechanisms for building a new model are analyzed. The main prerequisites (financial and economic, fundamental research and applied research, the emergence and construction in the structure of global trends in the development of health care markets, actualized at the end of the last century, are presented. It is indicated that one of the main incentives for the development of personalized medicine is a noticeable increase in individual and social demand for preventive drugs and the corresponding tools. The development of programs for managing their own health is gaining in importance, and new business-development models (including public and private partnerships are being developed and implemented. The evidence is examined that a progressive scenario for the development of a model of personalized medicine will provide a significant reduction in the cost of medical care. A large section of the article is devoted to the development of the provision that the understanding and awareness of the importance of the protection and management of one's own health by a modern state, medical audience and individual citizen is the most important aspect of the educational and educational activities of a doctor and a nurse. The perspectives of personalized pediatrics as a global instrument for restructuring the entire healthcare system are considered in detail.
Spaans, M.; van der Veen, M.; Janssen-Jansen, L.
Non-financial compensation increasingly receives attention in both planning practice and science across the world. Non-financial compensation exists when a government compensates a person or company with an interest in land for the loss of one or more of his property rights therein by creating a new
Spaans, M.; Van der Veen, M.; Janssen-Jansen, L.
Non-financial compensation increasingly receives attention in both planning practice and science across the world. Non-financial compensation exists when a government compensates a person or company with an interest in land for the loss of one or more of his property rights therein by creating a new
Full Text Available The emergence of technology has revolted the way that the financial industry operates and the increasing use of mobile gadgets has changed the banking system from the traditional brick and mortar building to a virtual system. The sudden rise in use and innovation of smart mobile phones, mobile personal computers, tablets and various other mobile electronic gadgets has resulted in the rise of mobile financial products. Rapid quickening innovative headways are making completely new business suggestions, for example, crowd financing, shared loaning, advanced monetary forms, versatile managing an account, online speculation and new instalment frameworks. Zimbabwe's mobile technology use is currently on the rise too as mobile service providers like Econet are enabling the connection between consumers and financial related products. Despite the fact that innovation without a doubt brings benefits, prominent specialized disappointments in the money related part lately are disturbing and several negative factors are to some extent affecting production. Drawbacks like cybercrime, resistance to change, and compatibility of mobile gadgets are affecting the information technology environment. This paper highlights the rise of mobile technology in the financial sector in Zimbabwe.
Teresi, Jeanne A; Ocepek-Welikson, Katja; Lichtenberg, Peter A
The focus of these analyses was to examine the psychometric properties of the Lichtenberg Financial Decision Screening Scale (LFDSS). The purpose of the screen was to evaluate the decisional abilities and vulnerability to exploitation of older adults. Adults aged 60 and over were interviewed by social, legal, financial, or health services professionals who underwent in-person training on the administration and scoring of the scale. Professionals provided a rating of the decision-making abilities of the older adult. The analytic sample included 213 individuals with an average age of 76.9 (SD = 10.1). The majority (57%) were female. Data were analyzed using item response theory (IRT) methodology. The results supported the unidimensionality of the item set. Several IRT models were tested. Ten ordinal and binary items evidenced a slightly higher reliability estimate (0.85) than other versions and better coverage in terms of the range of reliable measurement across the continuum of financial incapacity.
The article provides the analysis of information support for the developing agrarian businesses financial security activities. The impact of financial statements on financial security has been proved through generalization procedure of such calculating indicators as operating margin, return on assets, total liquidity ratio and financial autonomy ratio. A causal effect between mass underestimation of operating fixed assets in accounting and inflated profitability rates in agribusinesses operat...
Characklis, Gregory; Meyer, Eliot; Foster, Benjamin
Physical and/or engineered solutions have long been used to manage risks associated with adverse environmental events. Examples include reservoirs as a tool for mitigating drought-related supply risk, levees for managing flood risk and dredging of inland waterways to ensure navigability during low flow periods. These measures can reduce many types of risk (e.g., loss of life), but are often employed as a means of protecting against financial losses. When the focus is on managing environmental financial risk, physical solutions can be effective, but also costly. In many cases, non-physical tools can provide a less expensive means of managing financial risk, with these often taking the form of financial instruments such as hedging contracts, contingency funds or insurance. Some of these instruments, such as flood insurance, are widely available, but historically many environmental financial risks have been managed primarily (or solely) via physical solutions without much consideration of alternatives, thereby opening opportunities for innovation in developing financial solutions. Recent research has demonstrated that financial instruments can play a significant role in managing drought-related financial risk in sectors as diverse as water utilities, energy generation and inland navigation. Nonetheless, this work has largely considered the use of these instruments within systems in which physical solutions are already in place (but failing to achieve desired performance). The next step in the evolution of managing environmental financial risk involves developing methods for designing risk management strategies that do not assume an established physical system. Here the goal is to identify the relative role that physical solutions and financial instruments should play as they are integrated into a comprehensive risk management strategy. This is not a straightforward challenge as one approach reduces the risk of financial losses and the other redistributes those losses
Full Text Available The objective of this paper is to analyse the EU accounting related legislation as a consequence of the introduction of the new European Directive, i.e. Directive 34 of the EC, changing the 4th and the 7th Directive of the EU. These accounting updates will mostly be of the technical and accounting type and will particularly be directed at the financial statements of different sized companies. Therefore, in light of these recent developments, we have herein focused on the current accounting system applied in the EU, which comprises the IAS/IFRS standards and the existing national regulations and is changed by the implementation of the EEC accounting directives.
Full text: 1. Introduction - Once the State signed with the International Atomic Energy Agency the Non-Proliferation Treaty (NPT), the State has to declare to the IAEA their facilities where they handle Nuclear Material. Each facility will have their own Safeguards Agreement and these are called Subsidiary Arrangements. In order to have a good control and accountability of this material, each facility is named Material Balance Area (MBA). Based on the Subsidiary Arrangements each MBA has to fill a proper IAEA format named DIQ in order to get the Facility Attachment. The DIQ format varies, relying on the kind of facility. 2. Facility - In the NNRI, we have two MBA's and the experiences that we have had to fill the DIQ formats had been, that it takes quite a time to get the proper Facility Attachment, because first you have to have the proper format, then you fill it properly with all their respective annexes and once it is reviewed and approved by the people involved, this is signed and sent to the IAEA, this first step took six months. Once the format is reviewed by the IAEA, they send it back to the facility, asking for proper comments in order to clarify it properly, this took three months. The facility update the comments and send it back, this took three months. With this format the IAEA prepares the Facility Attachment of the MBA and send it to the facility for its approval or comments, this took five months. The facility reviewed it and sent it back with some comments or doubts after tree months. The IAEA clarifies the comments and doubts and send to the facility the approved Facility Attachment, four months later. So in order to get the proper Facility Attachments for each of our MBA's, it has been taken 24 months (two years) at least. 3. Actual situation - At present, now that the nuclear activities have been diminished and consequently the nuclear material movements, because the Fuel Fabrication Pilot Plant (FFPP) we have, was stopped for financial reasons
Catalin-Florinel Stanescu; Laurentiu Mircea Simion
Concerns about the financial risk is increasing. In this climate, companies of all types and sizes want a robust framework for financial risk management to meet compliance requirements, contribute to better decision making and increase performance. Financial risk management professionals working with financial institutions and other corporate clients to achieve these objectives.
The 2008 financial crisis made clear the shortcomings in the European structure of financial supervision. In the current system of financial supervision the financial supervisor of the home Member State is in principle the only authority entitled to supervise financial institutions even in case
This article attempts to estimate the magnitude of corporate tax avoidance and personal tax evasion through offshore tax havens. US corporations book 20 percent of their profits in tax havens, a tenfold increase since the 1980; their effective tax rate has declined from 30 to 20 percent over the last 15 years, and about two-thirds of this decline can be attributed to increased international tax avoidance. Globally, 8 percent of the world's personal financial wealth is held offshore, costing m...
Lim, HanNa; Heckman, Stuart J.; Letkiewicz, Jodi C.; Montalto, Catherine P.
Financial stress and self-efficacy are examined in relationship to college students' financial help-seeking behavior utilizing Grable and Joo's (1999) framework. A cognitive approach is taken by focusing on the moderating role of financial self-efficacy on the relationship between financial stress and financial help-seeking. Data from the 2010…
Printz, Jonathon O; Lee, John J; Knesek, Michael; Urquhart, Andrew G
The search results of a recent systematic review of prospective, randomized, placebo-controlled trials on hyaluronic acid injections for knee arthritis were updated and reviewed for funding source and qualitative conclusions. Forty-eight studies were identified; 30 (62.5%) were industry funded, and 3 (6.25%) were not. Fifteen (31.3%) studies did not identify a funding source. An association was observed between a reported potential financial conflict of interest of the author and the qualitative conclusion (P=0.018). None of the studies with a reported financial conflict of interest of at least one author had an unfavorable conclusion; 11 (35%) of the 31 studies with no industry-affiliated authors indicated that hyaluronic acid injection for knee osteoarthritis was no more effective than a placebo injection. © 2013 Elsevier Inc. All rights reserved.
Much work has been devoted to high consequence events with low frequency of occurrence. Characteristic of these events are bridge failure (such as that of the Tacoma Narrows), building failure (such as the collapse of a walkway at a Kansas City hotel), or compromise of a major chemical containment system (such as at Bhopal, India). Such events, although rare, have an extreme personal, societal, and financial impact. An interesting variation is demonstrated by financial losses due to fraud and abuse in the money management system. The impact can be huge, entailing very high aggregate costs, but these are a result of the contribution of many small attacks and not the result of a single (or few) massive events. Public awareness is raised through publicized events such as the junk bond fraud perpetrated by Milikin or gross mismanagement in the failure of the Barings Bank through unsupervised trading activities by Leeson in Singapore. These event,s although seemingly large (financial losses may be on the order of several billion dollars), are but small contributors to the estimated $114 billion loss to all types of financial fraud in 1993. This paper explores the magnitude of financial system losses and identifies new areas for analysis of high consequence events including the potential effect of malevolent intent.
Huang, Chin-Wen; Hsu, Chun-Pin
This case study explores the use of online games to teach personal finance concepts at the college level. A number of free online games targeting such topics as budgeting and saving, risk and return, consumer credit, financial services, and investments were introduced to the experimental group as homework assignments. Statistical results indicate…
Henager, Robin; Cude, Brenda J.
The purpose of this study was to examine the relationship between financial literacy and financial behaviors among various age groups. Financial literacy was measured in three ways: objective financial knowledge, subjective financial knowledge or confidence, and subjective financial management ability. The age groups were 18-24, 25-34, 35-44,…
Tamura, A.T.; Lorenz, J.J.
The Nevada Nuclear Waste Storage Investigations Project was renamed the Yucca Mountain Project on August 5, 1988. This update contains information that was added to the DOE Energy Data Base during the first six months of 1988. The update is categorized by principal project participating organizations, and items are arranged in chronological order. Participant-sponsored subcontractor reports, papers, and articles are included in the sponsoring organization's list. Previous information on this project can be found in the Nevada Nuclear Waste Storage Investigations bibliographies, DOE/TIC-3406 which covers the years 1977--1985, and DOE/OSTI-3406(Suppl.1) which covers 1986 and 1987. These bibliographies contain indexes for Corporate Author, Personal Author, Subject, Contract Number, Report Number, Order Number Correlation and Key Word in Context
Full Text Available The appropriate level of financial knowledge and the degree of financial integration needed in today's financialized world. This paper studies the level of financial literacy and the degree of financial inclusion among the students who study economic fields. These students are a special target group - very important for future development of financial markets. They are not only the future participants, but also the potential animators and creators of the financial market as well as the future financial advisors. The research sample comes from Visegrad Group countries (4V Countries, as the representatives from Central and Eastern Europe countries, where the level of financial literacy and degree of financial inclusion seems to be lower in comparison to the West European Countries. The research also contributes to knowledge in the area of expanding the methods of assessments of efficiency of financial education. The Authors decided to verify the new assessment of effectiveness of financial education. It will be conducted by a separate and simultaneous assessment of financial literacy and financial inclusion. The main results of research confirm the very low level of financial literacy and financial inclusion of young future economists in 4V Countries in both groups: starting and finishing the professional financial education. In addition, examining the degree of financial inclusion among the students who at the same time are educated at the basic level confirms the much lower level of informed financial inclusion.
Kramer, Marc M.
We find that people with higher confidence in their own financial literacy are less likely to seek financial advice, but no relation between objective measures of literacy and advice seeking. The negative association between confidence and advice seeking is more pronounced among wealthy households.
Serido, Joyce; Shim, Soyeon; Xiao, Jing Jian; Tang, Chuanyi; Card, Noel A.
This study examines the impact of the recent financial crisis on co-occurring patterns of change in financial strain and financial coping behaviors of college students (N = 748) using two-timed, longitudinal data collected prior to the 2008 financial crisis and again one year later. Using a stress and coping framework, we found that different…
After the oscillations in the financial fortunes of the US Superconducting Supercollider (SSC) this summer, a compromise bill was passed in September that included $517 million for the SSC in the new financial year, which began on October 1
After the oscillations in the financial fortunes of the US Superconducting Supercollider (SSC) this summer, a compromise bill was passed in September that included $517 million for the SSC in the new financial year, which began on October 1.
www.investopedia.com/features/industryhandbook/banking.asp Mishkin , F. & Eakins, S. (2003). Financial Markets + Institutions (4th ed.). Boston...purposes, participants interact in financial markets for securities, bonds, futures and options, utilizing financial intermediaries such as retail and...nations. U.S. participants, likewise, may also choose to participate in foreign financial institutions in order to gain access to or operate in
Full Text Available Financial decisions, be they related to asset building or debt management, require the capacity to do calculations, including some complex ones. But how numerate are individuals, in particular when it comes to calculations related to financial decisions? Studies and surveys implemented in both the United States and in other countries that are described in this paper show the level of numeracy among the population to be very low. Moreover, lack of numeracy is not only widespread but is particularly severe among some demographic groups, such as women, the elderly, and those with low educational attainment. This has potential consequences for individuals and for society as a whole because numeracy is found to be linked to many financial decisions. As we shift responsibility from governments and employers onto individuals, it is increasingly important to find ways to equip people with the skills that are necessary to make savvy financial decisions.
Carolina M. Reece
Full Text Available Financial Investing is becoming not only a way to plan for a future source of retirement, but also a method to control a personal financial situation without having to rely on government aid or family member support to survive during the elderly years. Today, individuals cannot depend on social security being available in the future for financial support. It is especially vital for women to become more interested in making long-term investments that will provide a secure and effective approach to money management and financial planning. However, as various studies have concluded, women are less interested than men in managing their finances due to various economic and psychological reasons related to risk aversion, sociopolitical and biological factors, and income. This study reviews previous research findings related to the relationship between women and investments, as well as several economic and psychological reasons behind the gender gap on financial investing are presented. Surveys were used to identify the main reasons for women’s tendency to rely less on financial investments. It was found that women who had some source of financial investment showed confidence in the stock market, as well as in their financial decisions. These results contradict some of the findings shown in previous research.
Levine, Jane; Gussow, Joan Dye; Hastings, Diane; Eccher, Amy
Objectives. This study examined the association between authors’ published positions on the safety and efficacy in assisting with weight loss of the Procter & Gamble (P&G) fat substitute olestra and their financial relationships with the food and beverage industry. Methods. Journal articles about olestra, and their authors, were classified as supportive, critical, or neutral with respect to its use. Authors not known to have industry affiliations were surveyed about their financial relationships. Results. Supportive authors were significantly more likely than critical or neutral authors to have financial relationships with P&G (80% vs 11% and 21%, respectively; P < .0001). All authors disclosing an affiliation with P&G were supportive. Conclusions. Because authors’ published opinions were associated with their financial relationships, obtaining noncommercial funding may be more essential to maintaining objectivity than disclosing personal financial interests. PMID:12660215
Stewart, Christopher C; Yu, Lei; Wilson, Robert S; Bennett, David A; Boyle, Patricia A
Healthcare and financial decision making among older persons has been previously associated with cognition, health and financial literacy, and risk aversion; however, the manner by which these resources support decision making remains unclear, as past studies have not systematically investigated the pathways linking these resources with decision making. In the current study, we use path analysis to examine the direct and indirect pathways linking age, education, cognition, literacy, and risk aversion with decision making. We also decomposed literacy into its subcomponents, conceptual knowledge and numeracy, in order to examine their associations with decision making. Participants were 937 community-based older adults without dementia from the Rush Memory and Aging Project who completed a battery of cognitive tests and assessments of healthcare and financial decision making, health and financial literacy, and risk aversion. Age and education exerted effects on decision making, but nearly two thirds of their effects were indirect, working mostly through cognition and literacy. Cognition exerted a strong direct effect on decision making and a robust indirect effect working primarily through literacy. Literacy also exerted a powerful direct effect on decision making, as did its subcomponents, conceptual knowledge and numeracy. The direct effect of risk aversion was comparatively weak. In addition to cognition, health and financial literacy emerged as independent and primary correlates of healthcare and financial decision making. These findings suggest specific actions that might be taken to optimize healthcare and financial decision making and, by extension, improve health and well-being in advanced age. (PsycINFO Database Record (c) 2018 APA, all rights reserved).
An update of the CERN exchange network will be done next April. Disturbances or even interruptions of telephony services may occur from 4th to 24th April during evenings from 18:30 to 00:00 but will not exceed more than 4 consecutive hours (see tentative planning below). CERN divisions are invited to avoid any change requests (set-ups, move or removals) of telephones and fax machines from 4th to 25th April. Everything will be done to minimize potential inconveniences which may occur during this update. There will be no loss of telephone functionalities. CERN GSM portable phones won't be affected by this change. Should you need more details, please send us your questions by email to Standard.Telephone@cern.ch. DateChange typeAffected areas April 11 Update of switch in LHC 4 LHC 4 Point April 14 Update of switch in LHC 5 LHC 5 Point April 15 Update of switches in LHC 3 and LHC 2 Points LHC 3 and LHC 2 April 22 Update of switch N4 Meyrin Ouest April 23 Update of switch N6 Prévessin Site Ap...
... positive financial decision-making among young consumers. We also seek information to develop a clearer... the most important factors? (c) What type of information is helpful in making that decision? (d) How... record and subject to public disclosure. Sensitive personal information, such as account numbers or...
Rayenda Khresna Brahmana
Full Text Available Indonesian migrant workers (IMW face life difficulties after returning back to Indonesia. This is a contrary condition considering their contribution to their home family in Indonesia while working abroad. Literature mentions that their financial planning is the root of the poverty of ex-IMW. Therefore, this research adopts literacy theory to explain this phenomenon. This research conducted a survey among 548 ex-IMW and measures their financial literacy and financial planning. This research also maps their asset ownership to examine the relationship between financial literacy and asset ownership. Overall, this research documents that financial literacy contributes statistically significantly and positively to financial planning. Furthermore, this research shows that asset ownership is closely related to financial literacy. In a nutshell, this research concludes that it is important for migrant workers to have good knowledge of financial issues, because having good financial literacy helps the migrant workers to plan their finance and budget much better, thereby helping them to avoid the poverty trap. Therefore, policymakers such as migrant worker authorities and/or Indonesian embassies abroad have to institute financial education programmes for migrant workers before they return to Indonesia.
Sayinzoga, Aussi; Bulte, E.H.; Lensink, Robert
We organise a field experiment with smallholder farmers in Rwanda to measure the impact of financial literacy training on financial knowledge and behaviour. The training increased financial literacy of participants, changed their savings and borrowing behaviour and had a positive effect on the new
Nguyen, Thanh Dang
We present ez-Segway, a decentralized mechanism to consistently and quickly update the network state while preventing forwarding anomalies (loops and blackholes) and avoiding link congestion. In our design, the centralized SDN controller only pre-computes information needed by the switches during the update execution. This information is distributed to the switches, which use partial knowledge and direct message passing to efficiently realize the update. This separation of concerns has the key benefit of improving update performance as the communication and computation bottlenecks at the controller are removed. Our evaluations via network emulations and large-scale simulations demonstrate the efficiency of ez-Segway, which compared to a centralized approach, improves network update times by up to 45% and 57% at the median and the 99th percentile, respectively. A deployment of a system prototype in a real OpenFlow switch and an implementation in P4 demonstrate the feasibility and low overhead of implementing simple network update functionality within switches.
Mitran Paula Cornelia
Full Text Available The purpose of every economic activity in general and the financial one in particular is thesatisfaction of clients’ necessities. The specificity of clients’ consumption behavior in the financial – bankingrealm, impose the understanding of the necessities and their occasional process to the banking system. Theclient’s behavior analysis, as an obvious barometer of a bank evolution is the most important component of amarketing research. The relationship between the client, as a natural person or a juridical person and bank, isvery important and requires to be supported in order to assure clients’ loyalty and to develop long termrelations with them. Therefore, banks should give advice to their clients concerning their finance organizationor concerning the preparation of their business plans, fact which is able to reinforce the professional image ofthe bank. This aspect must be completed by the presence of some communication specialists who will assurethe information transfer, creating a feed-back between the employees and the clients.
Over the last few years, large retailers offering financial services have considerably grown in the financial services sector. Retailers are increasing the wideness and complexity of their offer of financial services. Large retail companies provide financial services to their customers following different strategic ways. The provision of financial services in the retailers offer is implemented in several different ways related to the strategies, the structures and the degree of financial know...
Full Text Available The success of entrepreneurial activity depends on the state of the financial resources of the entity and the choice of the strategy of financial resources forming. In the article the specification of socio-economic nature of the financial resources of enterprises is analyzed and proved , their classification under the relevant characteristics and peculiarities of the financial resources formation of businesses in a rapidly changing economy in the context of sustainable economic state development are given. Keywords: financial resources, assets, cash funds, sustainable development
Feofanova Iryna V.
Full Text Available The article is aimed at researching the approaches to assessing financial flexibility and the ways to improve it as a constituent part of financial security. Both the external and the internal threats to financial security have been defined. The indicators of assessment of the financial status of enterprise that are being calculated on the basis of value of equity were analyzed. It has been determined that the growth of equity has a positive impact on all coefficients, with the exception of the ratio of non-negotiable assets and the equity funds. It has been suggested that the ratio of non-negotiable assets to equity funds should be used as an indicator of the sufficiency of own capital gains. The relationship between the maneuverability coefficient of the own negotiable capital and the ratio of non-negotiable assets to the equity funds has been considered. It has been found that formation of the own financial resources is one of the main ways of increasing the financial flexibility of enterprises and organizations. A number of measures to increase equity have been proposed; the sources of the equity funds and the factors influencing the money flows have been defined.
Arslan Rafi; Farah Arzu; Waqar Ahmed Khan; Inam ul Haq; Abdul Rauf Kashif
Economic theories mostly focus on the commercial entrepreneurs along with an emphasis on the financial return. With entrepreneurship playing an imperative role in the modern dynamic, differences in the individual preferences, capabilities, social and human values, personality differences and the human will power must also be considered while studying entrepreneurial activities, intentions and performance. This research establishes the relationship among the personality traits and entrepreneur...
Andrade, Ronaldo Barata de [ELETROBRAS Termonuclear S.A. (ELETRONUCLEAR), Rio de Janeiro, RJ (Brazil)]. E-mail: email@example.com
This paper presents an updated economic-financial evaluation of Angra 3 Nuclear Power Plant project and estimates the lowest power tariff value at which power potentially made available may be commercialized and yet ensures the project a profitability level agreeable to the interests of economic agents and shareholders. According to the project evaluation practice, Angra 3 power generation was considered separately from ELETRONUCLEAR operating plants (Angra 1 and Angra 2), thus preventing result distortions bound to occur if the economic-financial variables of the new project were analyzed associated with financial commitments and commercialization conditions resulting from the project implementation process and the generated power commercialization conditions, respectively. For this evaluation different technical and economic scenarios were devised, and the theory of Capital Asset Pricing Model (CAPM) for Own Capital cost and that of Weighted Average Cost of Capital (WACC) were used in addition to the forecast of the Statement of Results and Free Cash flow of Shareholders throughout the power plant life, which is the estimate basis for the lowest power tariff value and the Internal Return Rate (IRR) of the project. (author)
This paper investigates how financial globalization and financial development affect income inequality within a country. We demonstrate that when a country is financially closed to the world market, the Gini coefficient is monotonically decreasing with respect to the degree of financial development, whereas when a country becomes so small due to financial globalization that financial development in the country does not affect the world interest rate, the Gini coefficient is monotonically incr...
D.G. Gouws is in the School of Financial Management Sciences, University of Pretoria, and Ms ... connection between the financial numbers and the real business world context. ...... The Origin of Wealth: Evolution, Complexity, and the Radical.
Full Text Available Social phenomenon of personal over-indebtedness has emerged in the past thirty years. The trend of excessive indebtedness of households is not losing but gaining momentum. The problem of personal over-indebtedness becomes the focus of interest of regulators, research community and the public in general. In Croatia the number of citizens whose bank accounts are frozen as well as the level of their debt is steadily rising. One of the reasons of such trend is easier access to debt. Studies document the process of 'credit democratization', one of the reasons enabling it being the relaxation of financial regulation. Only few studies can be found that research the role of bank operations policies in inducing the higher levels of household debt. Bank marketing, specifically the advertising and promotion are the tools to communicate with clients, and it has been proven that effective marketing content is as powerful as the interest rate level in deciding upon getting a credit. This leads the way to the research of possible relation between marketing efforts of the bank and the level of household indebtedness. This paper focuses on the possible proactive role of banks, driven by the profitability, and accompanied with the inappropriate quality and level of regulation, in the rise of the number of over-indebted persons in Croatia. The effect of the economic downturn on the proposed relationship is also taken into account. The analysis is based on the bank financial statements data and selected macroeconomic indicators. The goal of the paper is to describe how banks impact the consumer behavior, and consequently give incentive to the rise of personal indebtedness in Croatia.
The Financial Times Global Pharmaceutical & Biotechnology conference, held in London, included topics covering the current and future challenges confronting the pharma and biotech industry, and presented possible solutions to those challenges. This conference report highlights selected presentations on the industry challenges for big pharma companies, diversification as a solution to industry problems, overcoming challenges with collaborations and M&As, and the role of emerging markets in the pharma industry. Other subjects discussed included the expected impact of personalized medicine on the industry, the entry of big pharma into the generics market and the problems that are confronting the small pharma and biotech industry.
Call, Lindsay Larson; Dyer, W. Justin; Wiley, Angela R.; Day, Randal D.
Recently, national attention has turned to the need for increased financial education, particularly for low-income populations. Incarcerated individuals represent a growing low-income group with unique needs that could likely benefit from financial education. However, few studies have examined the specific financial education needs of inmates,…
US Ecology is a full service waste management company. The company operates two of the nation's three existing low-level radioactive waste (LLRW) disposal facilities and has prepared and submitted license applications for two new LLRW disposal facilities in California and Nebraska. The issue of financial assurances is an important aspect of site development and operation. Proper financial assurances help to insure that uninterrupted operation, closure and monitoring of a facility will be maintained throughout the project's life. Unfortunately, this aspect of licensing is not like others where you can gauge acceptance by examining approved computer codes, site performance standards or applying specific technical formulas. There is not a standard financial assurance plan. Each site should develop its requirements based upon the conditions of the site, type of design, existing state or federal controls, and realistic assessments of future financial needs. Financial assurances at U.S. Ecology's existing sites in Richland, Washington, and Beatty, Nevada, have been in place for several years and are accomplished in a variety of ways by the use of corporate guarantees, corporate capital funds, third party liability insurance, and post closure/long-term care funds. In addressing financial assurances, one can divide the issue into three areas: Site development/operations, third party damages, and long-term care/cleanup
Fani Firmansyah, Dian Nailiyah
Full Text Available Recently, many sharia financial institutes stand, either banks general or banks people of islamic finance. PT BPRS Mitra Harmoni Malang City as a new sharia financial institute is demanded to be able to compete to other financial institute, so that the marketting strategy is needed fully. Personal selling is one of marketting method of producttion in order to be able to be pervaded by market. PT BPRS Mitra Harmoni Malang City markets payment product of murabahah by using the personal selling, can stand even more develope. This research it conducted to know how the application of personal selling in marketing murabahah payment product in PT BPRS Mitra Harmoni Malang City. The kind of this research is method qualitative approach descriptive, the researcher describes how processes or steps personal selling conducted PT BPRS Mitra Harmoni Malang City, the technique of data collecttion uses the observation, interview and documentation. Method data analysis that researcher use is method data analysis descriptive. The research result shows that proses or step personal selling which is held in PT BPRS Mitra Harmoni Malang City is Prospecting Approach, Preapproach, Approach, Presentation, Handling Objection, Closing and follow up. Handling Objection which is held PT BPRS Mitra Harmoni Malang City is sales person continue closing sale without asked reservation prospective customers and do not dig the hidden reservation then use the reservation as an opportunity to provide more information and change the mind be a reason to buy.
...-INTRODUCTION 1.51-Personal Property Management Standards and Practices § 109-1.5110 Physical inventories of... items indicates that this action is necessary for effective property accounting, utilization, or control... property records, and with applicable financial control accounts. (j) The results of physical inventories...
Syed Jawad Hussain Shahzad
Full Text Available The objective of this study is to investigate the impact of financial leverage on corporate financial performance of Pakistan’s textile sector from 1999-2012 using panel data. The leverage-performance relationship is examined with a special focus on the Global Financial Crisis of 2007-2008. Both accounting-based (Return on Assets - ROA and market-based (Tobin’s Q measures of corporate financial performance are used. Regression analysis is performed with and without inclusion of financial crisis dummy. Total Debt to Total Assets (TDTA, Long Term Debt to Total Assets (LDTA, Short Term Debt to Total Assets (SDTA and Debt to Equity (DE ratios are used as proxies for financial leverage whereas firm’s size and firm’s efficiency are used as control variables. The results indicate that financial leverage has a negative impact on corporate performance when measured with ROA. Whereas in case of Tobin’s Q, SDTA coefficient is positive. It can be concluded that since cost of borrowing is high in Pakistan and debt capital markets are less developed, firms are forced to resort to banks as their source of debt finance and thus have to repay huge amount of principal and interest which has a heavy toll on their financial health. In addition to this, financial crisis was found to have a negative impact on corporate performance and also affect the leverage-performance relationship.
van Thiel, D.; van Raaij, W.F.
The purpose of this study is to develop the world’s first psychographic market segmentation model that supports personalization, customer education, customer activation, and customer engagement strategies with financial advice robots. As traditional segmentation models in consumer finance primarily
Sushko E. Yu.
Full Text Available The rapid sophistication of the Russian financial system inevitably leads not only to the emergence of great opportunities for the development of the financial sector, as expressed in the opening of the new financial institutions or new financial products and services, but also a huge financial risks for companies of this sector, as expressed in the increase of population’s debts and the decline of trust in the financial sector. That is why special tools used in making management decisions about the development of the financial sector in a particular region acquires greater significance. On the basis of statistical data over the Volgograd region the author developed the model of initial attractiveness estimation of an area for business entities, reflecting the level of financial literacy and using the data from open sources of information. The article provides a brief introduction to the development of the methodology: from a theoretical substantiation of the original list of variables for analysis up to determine the regression equation. Obtained regression model can be used by entrepreneurs in case of expansion of their financial business to new areas and by regional governance whose aim is to increase the level of financial literacy.
Actuarial Foundation, 2013
"Plan, Save, Succeed!" is a new program aligned with Jumpstart Coalition National Standards in K-12 Personal Finance Education, National Council of Teachers of Mathematics (NCTM) Standards, and Common Core Standards for Mathematical Practice. "Plan, Save, Succeed!" is designed to help students understand key financial literacy topics including…
Full Text Available The Global Financial Crisis (GFC; changes in regulation; issues in public perception and trust have contributed to a troubled 2013 for financial planners. As financial planning and wealth management providers seek to bolster their professional status, the Financial Planning Education Council’s National Curriculum and Accreditation Framework and ASIC’s minimum training requirements are also a space to watch. In prospect, 2014 will offer opportunities and challenges in the form of a changed government; regulatory changes; accreditation challenges and the hope of the recruitment of strong financial planning and wealth management professionals for the future.
Urbinello, Damiano; Röösli, Martin
When moving around, mobile phones in stand-by mode periodically send data about their positions. The aim of this paper is to evaluate how personal radiofrequency electromagnetic field (RF-EMF) measurements are affected by such location updates. Exposure from a mobile phone handset (uplink) was measured during commuting by using a randomized cross-over study with three different scenarios: disabled mobile phone (reference), an activated dual-band phone and a quad-band phone. In the reference scenario, uplink exposure was highest during train rides (1.19 mW/m(2)) and lowest during car rides in rural areas (0.001 mW/m(2)). In public transports, the impact of one's own mobile phone on personal RF-EMF measurements was not observable because of high background uplink radiation from other people's mobile phone. In a car, uplink exposure with an activated phone was orders of magnitude higher compared with the reference scenario. This study demonstrates that personal RF-EMF exposure is affected by one's own mobile phone in stand-by mode because of its regular location update. Further dosimetric studies should quantify the contribution of location updates to the total RF-EMF exposure in order to clarify whether the duration of mobile phone use, the most common exposure surrogate in the epidemiological RF-EMF research, is actually an adequate exposure proxy.
Full Text Available The action of one person will affect the others and then the action of one country will affect other countries. Financial crisis is like a contagious disease, which spreads everywhere. The failure in capturing systemic risk is the interconnected market events (’network externalities’ can produce self-reinforcing cycles then create the harmful situation. What happened in the banking regulation particularly Basel II? In reality, Basel II did not work completely in 2008. Since the implementation of risk management based on Basel II has been a prerequisite for a bank, it is supposed to make a positive impact. Misplaced reliance on mathematical model and statistics in managing risk could one of the problems in the decision making process. Using system thinking, system dynamics paradigm and theory of feedback system, this paper tries to see the risk management from different perspective and to enrich the understanding of how financial systems work: what drives them and causes the behavior. Many lessons can be learnt from this financial contagion since Islamic banking and finance system has inevitably been a part of the international financial systems.
Full Text Available Handwritten signature is broadly utilized as personal verification in financial institutions ensures the necessity for a robust automatic signature verification tool. This tool aims to reduce fraud in all related financial transactions’ sectors. This paper proposes an online, robust, and automatic signature verification technique using the recent advances in image processing and machine learning. Once the image of a handwritten signature for a customer is captured, several pre-processing steps are performed on it including filtration and detection of the signature edges. Afterwards, a feature extraction process is applied on the image to extract Speeded up Robust Features (SURF and Scale-Invariant Feature Transform (SIFT features. Finally, a verification process is developed and applied to compare the extracted image features with those stored in the database for the specified customer. Results indicate high accuracy, simplicity, and rapidity of the developed technique, which are the main criteria to judge a signature verification tool in banking and other financial institutions.
In conditions of severe market competition and economic turmoil financial security of agricultural businesses largely depends on the effectiveness of management decisions, reporting being the information support to ensure such decision making. Thus, the practice of preparing accounting figures and their adjustment has a direct effect on agricultural businesses financial security. Having been generalized at the industry level, statistical and financial statements are used for the development o...
The World Health Organization's Mental Health Action Plan 2013?2020 stipulates human rights as a cross-cutting principle (WHO, 2013) and foresees global targets to update policies as well as mental health laws in line with international and regional human rights instruments. The international human rights agreements repeatedly refer to health, including mental health. The most pertinent provisions related to mental health are enshrined in the 2006 Convention on the Rights of Persons with Disa...
Full Text Available This article analyses the relationship between law, gender, and finance, with a particular focus on gender inequalities in the financial literacy measure which was constructed by the Organisation for Economic Cooperation and Development (OECD. It seeks to trouble predominant claims about financial literacy as an effective, ‘edu-regulatory’ policy to address gender inequalities in the financial services market. The article suggests that instead of acting as a neutral assessment of people’s financial literacy, the measure, in fact, embodies gendered assumptions about finance and financial practices. The measure presents a financial world in abstract terms and fails to account for different contexts within which financial decisions are made. The article exposes the measure’s problematic deployment of the literacy/illiteracy binary in thinking about financial gender inequalities. Rather than being attentive to the ways in which gender inequalities are produced in financial markets, the OECD measure misattributes these to irrational financial behaviour, and further reproduces the marginalisation of women in the global financial market. Este artículo analiza la relación entre derecho, género y finanzas, realizando un enfoque particular en las desigualdades de género existentes en el estudio sobre los conocimientos financieros que elaboró la Organización para la Cooperación y el Desarrollo Económico (OCDE. Busca contrastar las afirmaciones dominantes sobre los conocimientos financieros como una política efectiva, “edu-reguladora” para abordar las desigualdades de género en el mercado de servicios financieros. El artículo sugiere que, en lugar de realizar una evaluación neutral de los conocimientos financieros de las personas, la medida plasma asunciones de género sobre las finanzas y las prácticas financieras. El estudio presenta un mundo financiero en términos abstractos y no tiene en cuenta los diferentes contextos en los
Choi, Byron; Cong, Gao; Fan, Wenfei
This paper investigates the view update problem for XML views published from relational data. We consider XML views defined in terms of mappings directed by possibly recursive DTDs compressed into DAGs and stored in relations. We provide new techniques to efficiently support XML view updates...... specified in terms of XPath expressions with recursion and complex filters. The interaction between XPath recursion and DAG compression of XML views makes the analysis of the XML view update problem rather intriguing. Furthermore, many issues are still open even for relational view updates, and need...... to be explored. In response to these, on the XML side, we revise the notion of side effects and update semantics based on the semantics of XML views, and present effecient algorithms to translate XML updates to relational view updates. On the relational side, we propose a mild condition on SPJ views, and show...
Rac-Lubashevsky, Rachel; Kessler, Yoav
Working memory (WM) updating is a controlled process through which relevant information in the environment is selected to enter the gate to WM and substitute its contents. We suggest that there is also an automatic form of updating, which influences performance in many tasks and is primarily manifested in reaction time sequential effects. The goal…
Aslı Elif Aydın
Full Text Available The objective of this study is to propose a framework related to financial consumers’ private pension plan decisions. Specifically, we review the factors affecting consumers’ participation, contribution and asset allocation decisions regarding private pensions. The factors discussed include situational and dispositional factors, personality, motivation, financial literacy, and external influences. Based on this survey of literature, we develop a number of propositions, which are expected to benefit individual retirement planners and pension institutions in gaining a better understanding of retirement saving decisions.
...-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing of a Proposed Rule Change To Amend FINRA Rule 8312 (FINRA BrokerCheck Disclosure) To Include Information About Members and Their Associated Persons of Any Registered National Securities Exchange That Uses the CRD System for...
Full Text Available Abstract Taking the perspective of brand priming theory, this study proposes that brands associated with an audacious personality trait may influence consumers to be take more risks in making subsequent decisions. Two experiments, run in sport brands contexts, showed that individuals exposed to brands with high (vs. low audacity traits demonstrated a higher rate of risk taking in financial decisions. The studies also showed that this effect is moderated by individuals’ experience with the financial market. This moderation suggests that there was an activation of a goal not just semantic activation, but through the brand priming. This research provides insights into how today's consumers deal with brand priming effects in risky choice settings. From a managerial perspective, it can help managers to understand the likely effects of brand priming on behavior and better predict the probability of risk aversion or risk seeking outcomes.
Balogh, Robert; McMorris, Carly A; Lunsky, Yona; Ouellette-Kuntz, Helene; Bourne, Laurie; Colantonio, Angela; Gonçalves-Bradley, Daniela C
When compared to the general population, persons with an intellectual disability have lower life expectancy, higher morbidity, and more difficulty finding and obtaining healthcare. Organisational interventions are used to reconfigure the structure or delivery of healthcare services. This is the first update of the original review. To assess the effects of organisational interventions of healthcare services for the mental and physical health problems of persons with an intellectual disability. For this update we searched CENTRAL, MEDLINE, EMBASE, CINAHL and other databases, from April 2006 to 4 September 2015. We checked reference lists of included studies and consulted experts in the field. Randomised controlled trials of organisational interventions of healthcare services aimed at improving care of mental and physical health problems of adult persons with an intellectual disability. We employed standard methodological procedures as outlined in the Cochrane Handbook of Systematic Reviews of Interventions, in addition to specific guidance from the Cochrane Effective Practice and Organisation of Care (EPOC) Group. We identified one new trial from the updated searches.Seven trials (347 participants) met the selection criteria. The interventions varied but had common components: interventions that increased the intensity and frequency of service delivery (4 trials, 200 participants), community-based specialist behaviour therapy (1 trial, 63 participants), and outreach treatment (1 trial, 50 participants). Another trial compared two active arms (traditional counselling and integrated intervention for bereavement, 34 participants).The included studies investigated interventions dealing with the mental health problems of persons with an intellectual disability; none focused on physical health problems. Four studies assessed the effect of organisational interventions on behavioural problems for persons with an intellectual disability, three assessed care giver burden, and
Noël-Miller, Claire; Tfaily, Rania
The aim of this study was to contrast the likelihood that a husband's elderly mother receives financial assistance from a couple with that of a wife's mother. Prior U.S.-based research has documented a strong bias toward transfers to wives' parents. The authors aimed to extend this literature to Mexico, where financial help from adult children is a critical source of support for a rapidly aging population lacking institutional assistance. The authors' approach to modeling competition between mothers accounted for the nature of their need. The results demonstrate that among mothers of similar financial need, a husband's mother is twice as likely to receive financial assistance as a wife's mother. In contrast, when faced with personal care needs, a wife's mother is disproportionately favored. These results reflect gender differences in Mexican adult children's responsibility for family members' financial and physical well-being. The findings uncover new complexity in the patterns by which couples transfer money to parents of different lineage.
van Schueren, M.A.E.; Wijnhoven, H A H; Kruizenga, H M; Visser, M
BACKGROUND & AIMS: With the rapidly increasing number of malnourished older persons in the community, this review aims to summarize the effects of nutritional intervention studies for this target group. METHODS: Based on 2 previous reviews (2009, 2011) an update of the literature was performed.
Financial Statements and accompanying notes provided on .... to good governance principles. there is the risk that ...... responsibilities of the centre's internal auditor includes reviewing internal controls, including accounting and financial.
Mark Brimble; Ciorstan Smark
The Global Financial Crisis (GFC); changes in regulation; issues in public perception and trust have contributed to a troubled 2013 for financial planners. As financial planning and wealth management providers seek to bolster their professional status, the Financial Planning Education Council’s National Curriculum and Accreditation Framework and ASIC’s minimum training requirements are also a space to watch. In prospect, 2014 will offer opportunities and challenges in the form of ...
Valls Ruiz, Natàlia
This dissertation focuses on volatility in financial markets, with a special concern for: (i) volatility transmission between different financial markets and asset categories and, (ii) the effect of macroeconomic announcements on the returns, volatility and correlation of stock markets. These issues are analysed taking into account the phenomenon of asymmetric volatility and incorporating the period of financial turmoil caused by the Global Financial Crisis. The study focuses the attention on...
Eric S. Rosengren
Remarks by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, at the Boston University conference on The State of Financial Reform (panel on Lessons Learned from the Global Financial Meltdown), February 28, 2011, Boston, Massachusetts
The thesis discusses the problem of low financial literacy levels that people have in today's world and how financial literacy levels can be improved through school education. It is identified that financial literacy is a complex problem requiring a complex solution (which is yet to be discovered). Financial education can only be part of this complex solution. Even so, financial education encounters similar problems as traditional education: the decay of knowledge and effective retention of l...
Kraus, Peter L.
Financial literacy is the ability to understand how money works in a person's day-to-day life: how someone earns money, manages it, invests it, and donates it to help others. As librarians, we must realize that when patrons come to us for guidance in the area of financial literacy, they are trusting us to provide not only reliable information for…
Chung, Yunhyung; Park, Youngkyun
This study investigates the joint effects of financial education and educational networks on students' financial literacy. With a sample (N = 105) of senior students in a business college, the study finds that not only financial education, but also strong networks with professors, are positively related to the financial literacy of business…
Full Text Available Wealth is something very important in human life, Islam has set wealth managementclearly both personal and public. Today the concept of Islamic Financial Planning is being developed as modern wealth management for Moslems which have been modified to adjust the demands of the times. The concept of Islamic Financial Planning is trying to accommodate the particula rneeds of the Muslim entrepreneurs. This study al soreviews and discusses about the implementation of Islamic Financial Planning among Muslim entrepreneurs. This study aims to capture and analyze the application of Islamic Financial Planningin business practices of Muslim entrepreneurs.This research is a field research. The object of this studyis entrepreneurs of Gontor’s Alumni (10 informants, who are assumed to have been very familiar with the Islamic property management. Data are collected through interviews, observation and documentation. It was then analyzed using a qualitative descriptive method. The result ofthis studyis that almost of the 10 informants have implemented both Islamic Financial Planning and Islamic wealth management. In the instruments of Investment, saving, and filantropy all of the ten informants have implemented. but the other instrument, like insurance, testament, and bequest, all informants haven’t implemented yet. All informants have also implemented The guidance of Islamic Wealth Management, are: seeking for wealth (kasb, purchasing (infaq, and saving. Gontor also contributed in the business of informants, both in learning and networking.
Yunhee Chang; Angela Lyons
This paper uses data collected from a retrospective pre-test to investigate he impact that a financial education program has on participants’ financial behaviors. Specifically, we compare program impact across participants with varying levels of financial competency prior to the program and examine whether the program is meeting the educational needs of those it was designed to target – namely, financially disadvantaged consumers. The findings show that the program benefited all of the partic...
Reams-Johnson, Ansa; Delker, Susan
Student debt has increasingly become an important topic in higher education. Many students, particularly low-income and first-generation college students, do not have a solid understanding of managing personal finances. This becomes further compounded upon entering college, as these students lack the financial acumen to understand the long-term…
Practical C++ Financial Programming is a hands-on book for programmers wanting to apply C++ to programming problems in the financial industry. The book explains those aspects of the language that are more frequently used in writing financial software, including the STL, templates, and various numerical libraries. The book also describes many of the important problems in financial engineering that are part of the day-to-day work of financial programmers in large investment banks and hedge funds. The author has extensive experience in the New York City financial industry that is now distilled in
Léon, C.; Berndsen, R.J.; Renneboog, L.D.R.
An interacting network coupling financial institutions’ multiplex (i.e. multi-layer) and financial market infrastructures’ single-layer networks gives an accurate picture of a financial system’s true connective architecture. We examine and compare the main properties of Colombian multiplex and
Karczewski, Konrad J.; Fernald, Guy Haskin; Martin, Alicia R.; Snyder, Michael; Tatonetti, Nicholas P.; Dudley, Joel T.
The increasing public availability of personal complete genome sequencing data has ushered in an era of democratized genomics. However, read mapping and variant calling software is constantly improving and individuals with personal genomic data may prefer to customize and update their variant calls. Here, we describe STORMSeq (Scalable Tools for Open-Source Read Mapping), a graphical interface cloud computing solution that does not require a parallel computing environment or extensive technic...