WorldWideScience

Sample records for worldwide interbank financial

  1. How the interbank market becomes systemically dangerous: an agent-based network model of financial distress propagation

    CERN Document Server

    Serri, Matteo; Cimini, Giulio

    2016-01-01

    Assessing the stability of economic systems is a fundamental research focus in economics, that has become increasingly interdisciplinary in the currently troubled economic situation. In particular, much attention has been devoted to the interbank lending market as an important diffusion channel for financial distress during the recent crisis. In this work we study the stability of the interbank market to exogenous shocks using an agent-based network framework. Our model encompasses several ingredients that have been recognized in the literature as pro-cyclical triggers of financial distress in the banking system: credit and liquidity shocks through bilateral exposures, liquidity hoarding due to counterparty creditworthiness deterioration, target leveraging policies and fire-sales spillovers. But we exclude the possibility of central authorities intervention. We implement this framework on a dataset of 183 European banks that were publicly traded between 2004 and 2013. We document the extreme fragility of the ...

  2. Interbank Lending and Systemic Risk.

    OpenAIRE

    Rochet, Jean-Charles; Tirole, Jean

    1996-01-01

    Systemic risk refers to the propagation of a bank's economic distress to other economic agents linked to that bank through financial transactions. Banking authorities often prevent systemic risk through an implicit insurance of interbank claims, or by reducing interbank transactions and centralizing banks' liquidity management. This paper investigates whether the flexability afforded by decentralized bank interactions can be preserved while protecting the central banks from the necessity of c...

  3. Bank Liquidity, Interbank Markets, and Monetary Policy

    NARCIS (Netherlands)

    Freixas, X.; Martin, A.; Skeie, D.

    2010-01-01

    A major lesson of the recent financial crisis is that the interbank lending market is crucial for banks facing large uncertainty regarding their liquidity needs. This paper studies the efficiency of the interbank lending market in allocating funds. We consider two different types of liquidity shocks

  4. How Unstable Are Complex Financial Systems? Analyzing an Inter-bank Network of Credit Relations

    Science.gov (United States)

    Sinha, Sitabhra; Thess, Maximilian; Markose, Sheri

    The recent worldwide economic crisis of 2007-09 has focused attention on the need to analyze systemic risk in complex financial networks. We investigate the problem of robustness of such systems in the context of the general theory of dynamical stability in complex networks and, in particular, how the topology of connections influence the risk of the failure of a single institution triggering a cascade of successive collapses propagating through the network. We use data on bilateral liabilities (or exposure) in the derivatives market between 202 financial intermediaries based in USA and Europe in the last quarter of 2009 to empirically investigate the network structure of the over-the-counter (OTC) derivatives market. We observe that the network exhibits both heterogeneity in node properties and the existence of communities. It also has a prominent core-periphery organization and can resist large-scale collapse when subjected to individual bank defaults (however, failure of any bank in the core may result in localized collapse of the innermost core with substantial loss of capital) but is vulnerable to system-wide breakdown as a result of an accompanying liquidity crisis.

  5. Bankruptcy cascades in interbank markets.

    Directory of Open Access Journals (Sweden)

    Gabriele Tedeschi

    Full Text Available We study a credit network and, in particular, an interbank system with an agent-based model. To understand the relationship between business cycles and cascades of bankruptcies, we model a three-sector economy with goods, credit and interbank market. In the interbank market, the participating banks share the risk of bad debits, which may potentially spread a bank's liquidity problems through the network of banks. Our agent-based model sheds light on the correlation between bankruptcy cascades and the endogenous economic cycle of booms and recessions. It also demonstrates the serious trade-off between, on the one hand, reducing risks of individual banks by sharing them and, on the other hand, creating systemic risks through credit-related interlinkages of banks. As a result of our study, the dynamics underlying the meltdown of financial markets in 2008 becomes much better understandable.

  6. Systemic risk on different interbank network topologies

    Science.gov (United States)

    Lenzu, Simone; Tedeschi, Gabriele

    2012-09-01

    In this paper we develop an interbank market with heterogeneous financial institutions that enter into lending agreements on different network structures. Credit relationships (links) evolve endogenously via a fitness mechanism based on agents' performance. By changing the agent's trust on its neighbor's performance, interbank linkages self-organize themselves into very different network architectures, ranging from random to scale-free topologies. We study which network architecture can make the financial system more resilient to random attacks and how systemic risk spreads over the network. To perturb the system, we generate a random attack via a liquidity shock. The hit bank is not automatically eliminated, but its failure is endogenously driven by its incapacity to raise liquidity in the interbank network. Our analysis shows that a random financial network can be more resilient than a scale free one in case of agents' heterogeneity.

  7. Epidemics of Liquidity Shortages in Interbank Markets

    CERN Document Server

    Brandi, Giuseppe; Cimini, Giulio

    2016-01-01

    Financial contagion from liquidity shocks has being recently ascribed as a prominent driver of systemic risk in interbank lending markets. Building on standard compartment models used in epidemics, here we develop an EDB (Exposed-Distressed-Bankrupted) model for the dynamics of liquidity shocks reverberation between banks, and validate it on electronic market for interbank deposits data. We show that the interbank network was highly susceptible to liquidity contagion at the beginning of the 2007/2008 global financial crisis, and that the subsequent micro-prudential and liquidity hoarding policies adopted by banks increased the network resilience to systemic risk, yet with the undesired side effect of drying out liquidity from the market. We finally show that the individual riskiness of a bank is better captured by its network centrality than by its participation to the market, along with the currently debated concept of "too interconnected to fail".

  8. Entangling credit and funding shocks in interbank markets

    CERN Document Server

    Cimini, Giulio

    2016-01-01

    Credit and liquidity risks represent main channels of financial contagion for interbank lending markets. On one hand, banks face potential losses whenever their counterparties are under distress and thus unable to fulfill their obligations. On the other hand, solvency constraints may force banks to recover lost fundings by selling their illiquid assets, resulting in effective losses in the presence of fire sales - that is, when funding shortcomings are widespread over the market. Because of the complex structure of the network of interbank exposures, these losses reverberate among banks and eventually get amplified, with potentially catastrophic consequences for the whole financial system. Building on Debt Rank [Battiston et al., 2012], in this work we define a systemic risk metric that estimates the potential amplification of losses in interbank markets accounting for both credit and liquidity contagion channels: the Debt-Solvency Rank. We implement this framework on a dataset of 183 European banks that were...

  9. Entangling Credit and Funding Shocks in Interbank Markets.

    Science.gov (United States)

    Cimini, Giulio; Serri, Matteo

    2016-01-01

    Credit and liquidity shocks represent main channels of financial contagion for interbank lending markets. On one hand, banks face potential losses whenever their counterparties are under distress and thus unable to fulfill their obligations. On the other hand, solvency constraints may force banks to recover lost fundings by selling their illiquid assets, resulting in effective losses in the presence of fire sales-that is, when funding shortcomings are widespread over the market. Because of the complex structure of the network of interbank exposures, these losses reverberate among banks and eventually get amplified, with potentially catastrophic consequences for the whole financial system. Inspired by the recently proposed Debt Rank, in this work we define a systemic risk metric that estimates the potential amplification of losses in interbank markets accounting for both credit and liquidity contagion channels: the Debt-Solvency Rank. We implement this framework on a dataset of 183 European banks that were publicly traded between 2004 and 2013, showing indeed that liquidity spillovers substantially increase systemic risk, and thus cannot be neglected in stress-test scenarios. We also provide additional evidence that the interbank market was extremely fragile up to the global financial crisis, becoming slightly more robust only afterwards.

  10. Insolvency and contagion in the Brazilian interbank market

    Science.gov (United States)

    Souza, Sergio R. S.; Tabak, Benjamin M.; Silva, Thiago C.; Guerra, Solange M.

    2015-08-01

    This paper proposes a new way to model and analyze contagion in interbank networks. We use a unique dataset from the Brazilian financial system and include all active financial intermediaries. We show that the contagion chain has a short propagation path. We find that first-round contagion is generated only by banks and that medium-sized banks can generate contagion, which implies that size is not the sole determinant of importance within networks. Most vulnerable financial institutions are not banks. Finally, we compute a lower bound for the financial system expected losses in a 1-year horizon. The results contribute to the development of a financial stability-monitoring toolkit.

  11. The Dutch Interbank Computer Network

    NARCIS (Netherlands)

    Michiels, E.F.

    1988-01-01

    At the end of 1980, a strategic decision was made by the Dutch banks and savings banks to commence the development of a Data Communications Infrastructure (DCI), to be used for a number of forthcoming interbank applications. It was agreed that this new data communications infrastructure should be

  12. A network model of the interbank market

    Science.gov (United States)

    Li, Shouwei; He, Jianmin; Zhuang, Yaming

    2010-12-01

    This work introduces a network model of an interbank market based on interbank credit lending relationships. It generates some network features identified through empirical analysis. The critical issue to construct an interbank network is to decide the edges among banks, which is realized in this paper based on the interbank’s degree of trust. Through simulation analysis of the interbank network model, some typical structural features are identified in our interbank network, which are also proved to exist in real interbank networks. They are namely, a low clustering coefficient and a relatively short average path length, community structures, and a two-power-law distribution of out-degree and in-degree.

  13. Evolution of Controllability in Interbank Networks

    Science.gov (United States)

    Delpini, Danilo; Battiston, Stefano; Riccaboni, Massimo; Gabbi, Giampaolo; Pammolli, Fabio; Caldarelli, Guido

    2013-04-01

    The Statistical Physics of Complex Networks has recently provided new theoretical tools for policy makers. Here we extend the notion of network controllability to detect the financial institutions, i.e. the drivers, that are most crucial to the functioning of an interbank market. The system we investigate is a paradigmatic case study for complex networks since it undergoes dramatic structural changes over time and links among nodes can be observed at several time scales. We find a scale-free decay of the fraction of drivers with increasing time resolution, implying that policies have to be adjusted to the time scales in order to be effective. Moreover, drivers are often not the most highly connected ``hub'' institutions, nor the largest lenders, contrary to the results of other studies. Our findings contribute quantitative indicators which can support regulators in developing more effective supervision and intervention policies.

  14. The leading digit distribution of the worldwide Illicit Financial Flows

    OpenAIRE

    Tariq Ahmad Mir

    2012-01-01

    Benford's law states that in data sets from different phenomena leading digits tend to be distributed logarithmically such that the numbers beginning with smaller digits occur more often than those with larger ones. Particularly, the law is known to hold for different types of financial data. The Illicit Financial Flows (IFFs) exiting the developing countries are frequently discussed as hidden resources which could have been otherwise properly utilized for their development. We investigate he...

  15. Identifying Central Bank Liquidity Super-Spreaders in Interbank Funds Networks

    NARCIS (Netherlands)

    Léon, C.; Machado, C.; Sarmiento, M.

    2014-01-01

    Evidence suggests that the Colombian interbank funds market exhibits an inhomogeneous and hierarchical network structure, akin to a core-periphery organization, in which a few financial institutions fulfill the role of super-spreaders because of their simultaneous importance as global borrowers and

  16. The Topology of Danish Interbank Money Flows

    DEFF Research Database (Denmark)

    Rørdam, Kirsten Bonde; Bech, Morten Linnemann

    This paper presents the first topological analysis of Danish money market flows. We analyze the structure of two networks with different types of transactions. The first network is the money market network, which is driven by banks' behavior on the interbank market, the second is the network...

  17. Transmission of Bank Liquidity Shocks in Loan and Deposit Markets: The Role of Interbank Borrowing and Market Monitoring

    NARCIS (Netherlands)

    Allen, F.; Hryckiewicz, A.; Kowalewski, O.; Tumer Alkan, G.

    2014-01-01

    We examine the international transmission of liquidity shocks from multinational bank holding companies to their subsidiaries during the financial crisis of 2008. Our results demonstrate that a subsidiary's reduction in lending is strongly related to its parent bank's lending via the interbank

  18. Early-warning signals of topological collapse in interbank networks

    CERN Document Server

    Squartini, Tiziano; Garlaschelli, Diego

    2013-01-01

    The financial crisis marked a paradigm shift, from traditional studies of individual risk to recent research on the "systemic risk" generated by whole networks of institutions. However, the reverse effects of realized defaults on network topology are poorly understood. Here we analyze the Dutch interbank network over the period 1998-2008, ending with the global crisis. We find that many topological properties, after controlling for overall density effects, display an abrupt change in 2008, thus providing a clear but unpredictable signature of the crisis. By contrast, if the intrinsic heterogeneity of banks is controlled for, the same properties undergo a slow and continuous transition, gradually connecting the crisis period to a much earlier stationary phase. This early-warning signal begins in 2005, and is preceded by an even earlier period of "risk autocatalysis" characterized by anomalous debt loops. These remarkable precursors are undetectable if the network is reconstructed from partial bank-specific inf...

  19. A STUDY ON FINANCIAL DERIVATIVE WORLDWIDE TRANSACTIONS – FUTURES CONTRACTS

    Directory of Open Access Journals (Sweden)

    SECHEL Ioana-Cristina

    2012-07-01

    Full Text Available Financial products and financial derivatives transactions are on front page in the profile publications, because they have generated huge gains for a small part of market participants, and losses as well, sometimes followed by collapse even on the international financial institutions. Very common we can find in specialized media the hypothesis that the global instability was caused by derivative contracts and by the magnitude of these transactions, from the years preceding the crisis. Since they appeared in order to protect investors against various risks, we believe that the approach must have via derivative products is the ethical one. It is true that derivatives trades have grown very rapidly and have expanded from the commercial field (commodity derivatives to the capital market, but this was because the demand for such products was very high. Basically, the demand for financial derivatives products has validated their existence in the market. Derivative financial products are used by traders of financial intermediation companies, dealers, brokers, individual investors and corporations or governments. Precisely because of this large spectrum of users of financial derivatives, we can ask whether they should be used only by specialists in derivatives trading. Taken literally, the term derivative refers to a new product resulting from the modification of an existing product, but has different properties from the original product and from which it was derived (Business Dictionary 2012. But financially speaking, a derivative is a financial contract between two or more parts that comes from the future value of n reference asset (Reuters 2001, 17. Of course, in literature there are many definitions of the concept of financial derivative. If we were to build our own simple definition, we define financial derivatives as financial contracts based on an underlying asset whose price on the spot market determines its price. This is a very simple

  20. Beyond the power law : Uncovering stylized facts in interbank networks

    NARCIS (Netherlands)

    Vandermarliere, Benjamin; Karas, Alexei; Ryckebusch, Jan; Schoors, Koen

    2015-01-01

    We use daily data on bilateral interbank exposures and monthly bank balance sheets to study network characteristics of the Russian interbank market over August 1998-October 2004. Specifically, we examine the distributions of (un)directed (un)weighted degree, nodal attributes (bank assets, capital

  1. 78 FR 50135 - AIMS Worldwide, Inc., Apollo Capital Group, Inc., CommunitySouth Financial Corp., Last Mile...

    Science.gov (United States)

    2013-08-16

    ... COMMISSION AIMS Worldwide, Inc., Apollo Capital Group, Inc., CommunitySouth Financial Corp., Last Mile Logistics Group, Inc., Made in America Entertainment, Inc., and Millenia Hope, Inc.; Order of Suspension of... that there is a lack of current and accurate information concerning the securities of Last Mile...

  2. Adjustment of interbank lending in pre- and post-regulation periods: Empirical analysis of Vietnamese commercial banks

    Directory of Open Access Journals (Sweden)

    Ho Thanh Tung

    2017-10-01

    Full Text Available This article aims to analyze the interbank lending adjustment during the period when Vietnamese commercial banks are compliant with some parts of the Basel regulation framework. A pilot regulation period has started in 2011 and full application will be effective by the end of 2018. Partial adjustment models and variance decomposition are used for the analyses. In the analysis of the quarterly released financial statements of Vietnamese commercial banks in the period from 2008/Q1 to 2015/Q4, the empirical evidence showed that throughout the period, lending to non-bank and high liquidity assets contributed to the adjustment in both long run and short run with a negative association. In addition, the loan loss allowance contributed to the adjustment in the post-regulation period only with a positive association. These highly contributing factors also show a potential shock after the adjustment of the interbank lending. The results imply there is a need for interbank lending portfolio report and an efficient control over the IRB of Vietnamese commercial banks.

  3. The Impact of the LCR on the Interbank Money Market

    NARCIS (Netherlands)

    Bonner, C.; Eijffinger, S.C.W.

    2012-01-01

    Abstract: This paper analyses the impact of the Basel 3 Liquidity Coverage Ratio (LCR) on the unsecured interbank money market and therefore on the implementation of monetary policy. Combining two unique datasets, we show that banks which are just above/below their short-term regulatory liquidity

  4. The Impact of the LCR on the Interbank Money Market

    NARCIS (Netherlands)

    Bonner, C.; Eijffinger, S.C.W.

    2012-01-01

    This paper analyses the impact of the Basel 3 Liquidity Coverage Ratio (LCR) on the unsecured interbank money market and therefore on the implementation of monetary policy. Combining two unique datasets, we show that banks which are just above/below their short-term regulatory liquidity requirement

  5. Payment Instruments and Collateral in the Interbank Payment System

    OpenAIRE

    Hajime Tomura

    2014-01-01

    This paper presents a three-period model to analyze why banks need bank reserves for interbank payments despite the availability of other liquid assets like Treasury securities. The model shows that banks need extra liquidity if they settle bank transfers without the central bank. In this case, each pair of banks sending and receiving bank transfers must determine the terms of settlement between them bilaterally in an over- the-counter transaction. As a result, a receiving bank can charge a s...

  6. The Italian Interbank Network: statistical properties and a simple model

    Science.gov (United States)

    De Masi, G.; Iori, G.; Caldarelli, G.

    2007-06-01

    We use the theory of complex networks in order to quantitatively characterize the structure of reciprocal expositions of Italian banks in the interbank money market market. We observe two main different strategies of banks: small banks tend to be the lender of the system, while large banks are borrowers. We propose a model to reproduce the main statistical features of this market. Moreover the network analysis allows us to investigate properties of robustness of this system.

  7. A systematic review of financial and economic assessments of bovine viral diarrhea virus (BVDV) prevention and mitigation activities worldwide.

    Science.gov (United States)

    Pinior, Beate; Firth, Clair L; Richter, Veronika; Lebl, Karin; Trauffler, Martine; Dzieciol, Monika; Hutter, Sabine E; Burgstaller, Johann; Obritzhauser, Walter; Winter, Petra; Käsbohrer, Annemarie

    2017-02-01

    Infection with bovine viral diarrhea virus (BVDV) results in major economic losses either directly through decreased productive performance in cattle herds or indirectly, such as through expenses for control programs. The aim of this systematic review was to review financial and/or economic assessment studies of prevention and/or mitigation activities of BVDV at national, regional and farm level worldwide. Once all predefined criteria had been met, 35 articles were included for this systematic review. Studies were analyzed with particular focus on the type of financially and/or economically-assessed prevention and/or mitigation activities. Due to the wide range of possible prevention and/or mitigation activities, these activities were grouped into five categories: i) control and/or eradication programs, ii) monitoring or surveillance, iii) prevention, iv) vaccination and v) individual culling, control and testing strategies. Additionally, the studies were analyzed according to economically-related variables such as efficiency, costs or benefits of prevention and/or mitigation activities, the applied financial and/or economic and statistical methods, the payers of prevention and/or mitigation activities, the assessed production systems, and the countries for which such evaluations are available. Financial and/or economic assessments performed in Europe were dominated by those from the United Kingdom, which assessed mostly vaccination strategies, and Norway which primarily carried out assessments in the area of control and eradication programs; whereas among non-European countries the United States carried out the majority of financial and/or economic assessments in the area of individual culling, control and testing. More than half of all studies provided an efficiency calculation of prevention and/or mitigation activities and demonstrated whether the inherent costs of implemented activities were or were not justified. The dairy sector was three times more likely to

  8. Contagion in the Brazilian interbank currency exchange market: an empirical analysis

    Directory of Open Access Journals (Sweden)

    Maria Tannuri-Pianto

    2006-06-01

    Full Text Available The risk of contagion is the possibility that the failure of a financial institution affected by an exogenous shock generates the failure of other institutions not initially affected by the shock. As pointed out by Upper and Worms (2002 and others, the domino effect in the payment system depends on the precise pattern of interbank linkages. This paper studies the occurrence of financial contagion after the exogenous failure of an institution authorized to operate in the Brazilian interbank currency market. The data contain information about all the actual transactions that occurred in this market from August 1st, 2000 to October 31st, 2002. The adopted methodology shows the occurrence of contagion propagation in several subsequent rounds after the initial failure. We quantify the number of institutions that breakdown and the financial losses of the market. There is a large increase in the number of failed institutions during the period of the presidential elections in 2002.O risco de contágio é a possibilidade de que a falência de uma instituição financeira afetada por algum choque exógeno gere a falência de outras instituições não afetadas pelo choque inicialmente. Como salienta Upper e Worms (2002 e outros, o efeito dominó no sistema de pagamentos depende do padrão das interligações bancárias. Este artigo estuda a ocorrência de contágio financeiro após a falência exógena de uma instituição autorizada a operar no mercado interbancário de câmbio no Brasil. Os dados contêm informações sobre todas as transações efetivamente realizadas no período 01/08/2000 a 31/10/2002. A metodologia adotada mostra a ocorrência da propagação do contágio após várias rodadas subseqüentes à falência inicial. O artigo quantifica o número de instituições que quebrariam e as perdas financeiras do mercado. Existe um aumento substancial no número de falências durante o período pré-eleitoral em 2002.

  9. An inter-bank E-payment protocol based on quantum proxy blind signature

    Science.gov (United States)

    Wen, Xiaojun; Chen, Yongzhi; Fang, Junbin

    2013-01-01

    Security and anonymity are essential to E-payment systems. However, with the increasing computing power, existing E-payment systems will gradually become insecure. In this paper, we propose an inter-bank E-payment system which is based on quantum proxy blind signature. Adopting the techniques of quantum key distribution, one-time pad and quantum proxy blind signature, our quantum E-payment system could protect user's anonymity as the traditional E-payment systems do, and also have unconditional security which the classical E-payment systems cannot provide. Furthermore, compared with the existing quantum E-payment systems, the proposed system could support inter-bank transactions.

  10. Short-Term Liquidity Contagion in the Interbank Market

    NARCIS (Netherlands)

    Leon Rincon, C.E.; Martínez, Constanza; Cepeda, Freddy

    2016-01-01

    We implement a modified version of DebtRank, a measure of systemic impact inspired in feedback centrality, to recursively measure the contagion effects caused by the default of a selected financial institution. In our case contagion is a liquidity issue, measured as the decrease in financial

  11. Analysis of Overnight ROBOR Interbank Interest Rate Recorded in October 2008 Using a Correlational Mathematical Model

    Directory of Open Access Journals (Sweden)

    Ramona Mariana CALINICA

    2013-08-01

    Full Text Available Information about possible manipulation of the overnight Robor interbank interest rates appeared in the press in late June 2012 when the British bank Barclays was fined for manipulating Libor. Suspicion of manipulation of interest rates has not spared Romania.The purpose of this paper is to provide mathematical support persons or authorities concerned in finding out whether the overnight ROBOR reference rates from October 2008 were the result of an agreement between banks or is a natural reaction to the difficult conditions prevailing at that time, and why not, decision support to establish a intervention policies when deviations of the interbank money market parameters, in relation to a specific goal, above a certain value.

  12. Cryptanalysis of an inter-bank E-payment protocol based on quantum proxy blind signature

    Science.gov (United States)

    Cai, Xiao-Qiu; Wei, Chun-Yan

    2013-04-01

    We analyze the security of an inter-bank E-payment protocol based on quantum proxy blind signature, and find that there is a security leak in the quantum channels of this protocol, which gives a chance for an outside opponent to launch a special denial-of-service attack. Furthermore, we show that the dishonest merchant can succeed to change the purchase information of the customer in this protocol.

  13. Monetary Policy Shocks and Risk Premia in the Interbank Market

    DEFF Research Database (Denmark)

    Wingender, Asger Moll

    2011-01-01

    futures. However, rate cuts taking place at unscheduled FOMC meetings can increase risk premia during periods of financial distress, consistent with the view that central bank actions under such circumstances are perceived as signals that policy makers have private information of further unfavorable...

  14. Banks Belonging to the Erste Group and their Sensitivity to the Confidence Crisis on the Interbank Market

    Directory of Open Access Journals (Sweden)

    Pavla Klepková Vodová

    2015-01-01

    Full Text Available The aim of this paper is to measure the sensitivity of commercial banks from the Erste Group to the confidence crisis on the interbank market and to compare their sensitivity with average sensitivity of banks in particular countries. We have used the methodology of scenario analysis for the liquid asset ratio. All banks belonging to the Erste Group should be able to withstand the confidence crisis on the interbank market. The group of the most vulnerable banks consists from Erste bank Hungary and Banca Comerciala Romana from Romania. In some cases, banks from the Erste Group are more sensitive; while in other cases are banks belonging to the Erste Group less vulnerable than corresponding banking sectors. Except of banks from Hungary, Romania and Slovakia, subsidiary banks are less sensitive to the confidence crisis than the parent bank. Banks (and banking sectors who are net borrowers on the interbank market are much more sensitive to the confidence crisis on this market.

  15. Fitness model for the Italian interbank money market

    Science.gov (United States)

    de Masi, G.; Iori, G.; Caldarelli, G.

    2006-12-01

    We use the theory of complex networks in order to quantitatively characterize the formation of communities in a particular financial market. The system is composed by different banks exchanging on a daily basis loans and debts of liquidity. Through topological analysis and by means of a model of network growth we can determine the formation of different group of banks characterized by different business strategy. The model based on Pareto’s law makes no use of growth or preferential attachment and it reproduces correctly all the various statistical properties of the system. We believe that this network modeling of the market could be an efficient way to evaluate the impact of different policies in the market of liquidity.

  16. ASPECTS REGARDING THE EVOLUTION OF ROMANIA’S PUBLIC DEBT IN THE CONTEXT OF ITS INTEGRATION WITHIN THE E.U. AND OF WORLDWIDE FINANCIAL CRISIS

    Directory of Open Access Journals (Sweden)

    MARIANA MAN

    2011-01-01

    Full Text Available Governmental public debt is determined by the State’s financial needs that display a permanent character. The State’s financial needs are covered by cashed incomes coming from taxes and other contributions. The State’s incomes and the opportunity of obtaining them are almost never enough large in order to cover all the expenditures of a period (as a rule, one year. Such a lack of resources determines the turning up of certain budget deficits whose covering is done owing to internal or external loans. All the sums loaned and not refunded at a certain moment determines the appearance of the public debt of a country. Public debt consists in the total sums borrowed by the central public authorities, by the administrative and territory units, and contracted or guaranteed by the other public entities, from natural or juridical persons on the internal market or from abroad and not refunded at a certain moment. Governmental public debt represents the State’s total financial obligations at a certain moment coming from refunding financings directly contracted or guaranteed by the Government on financial markets. During a period when most of the countries have to face the challenges determined by the lack of sustaining internal and external public debt, we consider that the problems generated by administrating public debt mainly focus upon the impact of the present financial crisis upon the level of the public debt and upon the manner of administrating it.

  17. Network centrality measures and systemic risk: An application to the Turkish financial crisis

    Science.gov (United States)

    Kuzubaş, Tolga Umut; Ömercikoğlu, Inci; Saltoğlu, Burak

    2014-07-01

    In this paper, we analyze the performance of several network centrality measures in detecting systemically important financial institutions (SIFI) using data from the Turkish Interbank market during the financial crisis in 2000. We employ various network investigation tools such as volume, transactions, links, connectivity and reciprocity to gain a clearer picture of the network topology of the interbank market. We study the main borrower role of Demirbank in the crash of the banking system with network centrality measures which are extensively used in the network theory. This ex-post analysis of the crisis shows that centrality measures perform well in identifying and monitoring systemically important financial institutions which provide useful insights for financial regulations.

  18. RECONCILING GLOBAL FINANCIAL REPORTING WITH DOMESTIC TAXATION

    National Research Council Canada - National Science Library

    Caitlin Bokulic; Erin Henry; George A. Plesko

    2012-01-01

    .... The reconciliation compares the financial statement income of a firm's consolidated financial statement entities to the financial statement income of a firm's tax return entities on a worldwide...

  19. An index of financial safety of China

    Directory of Open Access Journals (Sweden)

    Xiaojun Jia

    2015-04-01

    Full Text Available Purpose: This paper combines a synthetic index system by the variables and evaluates China’s financial safety through the change of indexes in a comprehensive way. First of all, it builds the financial industry evaluation index system composed of 25indicators in terms of the operation of the financial industry and external economic environment and particularly takes into consideration factors which might trigger liquidity risks such as off-balance-sheet business, interbank business and shadow banking; then it selects 10 indicators to conduct empirical analysis and identifies the indicator weight through principal component analysis; finally it combines the financial safety indexes through the linear weighted comprehensive evaluation model.Design/methodology/approach: Synthesis of indexes is made by constructing a proper comprehensive evaluation mathematical model, integrating a number of evaluation indexes into one comprehensive evaluation index and then obtaining corresponding comprehensive evaluation results. In this paper, it selects 10 indexes to conduct empirical analysis and identifies the index weight through principal component analysis; finally it combines the financial safety indexes through the linear weighted comprehensive evaluation model. Principal component analysis (PCA is a statistical procedure that uses an orthogonal transformation to convert a set of observations of possibly correlated variables into a set of values of linearly uncorrelated variables called principal components. PCA was invented in 1901 and was later independently developed (and named by Harold Hotelling in the 1930s.Findings: From 2003 to 2013 China’s financial safety indexes fluctuated. From 2003 to 2007 indexes rose, which indicates China’s financial safety status gradually improved; from 2007 to 2009 indexes declined, which indicates due to the impact of subprime crisis, China’s financial safety status took a turn for the worse; from 2009 to 2012

  20. Worldwide Airfield Summary

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — The Worldwide Airfield Summary contains a selection of climatological data produced by the U.S. Air Force, Air Weather Service. The reports were compiled from dozens...

  1. Financialization and financial profit

    Directory of Open Access Journals (Sweden)

    Arturo Guillén

    2014-09-01

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

  2. Mapping Systemic Risk: Critical Degree and Failures Distribution in Financial Networks.

    Science.gov (United States)

    Smerlak, Matteo; Stoll, Brady; Gupta, Agam; Magdanz, James S

    2015-01-01

    The financial crisis illustrated the need for a functional understanding of systemic risk in strongly interconnected financial structures. Dynamic processes on complex networks being intrinsically difficult to model analytically, most recent studies of this problem have relied on numerical simulations. Here we report analytical results in a network model of interbank lending based on directly relevant financial parameters, such as interest rates and leverage ratios. We obtain a closed-form formula for the "critical degree" (the number of creditors per bank below which an individual shock can propagate throughout the network), and relate failures distributions to network topologies, in particular scalefree ones. Our criterion for the onset of contagion turns out to be isomorphic to the condition for cooperation to evolve on graphs and social networks, as recently formulated in evolutionary game theory. This remarkable connection supports recent calls for a methodological rapprochement between finance and ecology.

  3. Mapping Systemic Risk: Critical Degree and Failures Distribution in Financial Networks

    Science.gov (United States)

    Smerlak, Matteo; Stoll, Brady; Gupta, Agam; Magdanz, James S.

    2015-01-01

    The financial crisis illustrated the need for a functional understanding of systemic risk in strongly interconnected financial structures. Dynamic processes on complex networks being intrinsically difficult to model analytically, most recent studies of this problem have relied on numerical simulations. Here we report analytical results in a network model of interbank lending based on directly relevant financial parameters, such as interest rates and leverage ratios. We obtain a closed-form formula for the “critical degree” (the number of creditors per bank below which an individual shock can propagate throughout the network), and relate failures distributions to network topologies, in particular scalefree ones. Our criterion for the onset of contagion turns out to be isomorphic to the condition for cooperation to evolve on graphs and social networks, as recently formulated in evolutionary game theory. This remarkable connection supports recent calls for a methodological rapprochement between finance and ecology. PMID:26207631

  4. Worldwide regulations for mycotoxins.

    Science.gov (United States)

    van Egmond, Hans P

    2002-01-01

    Since the discovery of the aflatoxins in the 1960s, regulations have been established in many countries to protect the consumer from the harmful effects of mycotoxins that may contaminate foodstuffs. Various factors play a role in the decision-making process of setting limits for mycotoxins. These include scientific factors such as the availability of toxicological data, survey data, knowledge about the distribution of mycotoxins in commodities, and analytical methodology. Economical and political factors such as commercial interests and sufficiency of food supply have their impact as well. International enquiry's on existing mycotoxin legislation in foodstuffs and animal feedstuffs have been carried out several times in the 1980s and 1990s and details about tolerances, legal basis, responsible authorities, official protocols of analysis and sampling have been published. Recently a comprehensive update on worldwide regulations was published as FAO Food and Nutrition Paper 64. It appeared that at least 77 countries now have specific regulations for mycotoxins, 13 countries are known to have no specific regulations, whereas no data are available for about 50 countries, many of them in Africa. Over the years, a large diversity in tolerance levels for mycotoxins has remained. Some free trade zones (EU, MERCOSUR) are in the process of harmonizing the limits and regulations for mycotoxins in their respective member states, but it is not likely that worldwide harmonized limits for mycotoxins will soon be within reach.

  5. Financial history and financial economics

    OpenAIRE

    Turner, John D.

    2014-01-01

    This essay looks at the bidirectional relationship between financial history and financial economics. It begins by giving a brief history of financial economics by outlining the main topics of interest to financial economists. It then documents and explains the increasing influence of financial economics upon financial history, and warns of the dangers of applying financial economics unthinkingly to the study of financial history. The essay proceeds to highlight the many insights that financi...

  6. FISH PRODUCTION WORLDWIDE

    Directory of Open Access Journals (Sweden)

    Georgiana Melania COSTAICHE

    2014-12-01

    Full Text Available Fishing is one of the oldest occupations, which over the years has gone through several stages. In the economic terms the increase in intensive industrial system of the fish is advantageous because the specific energy consumption is low, given that they not need to maintain body temperature at high temperatures. Having regard to demographic trends in continue increasing, and the tendency of decrease fisheries leads to increased the production of aquaculture fish by order to ensure enough quantity and quality. The purpose of this paper is to highlight the evolution of fish production worldwide and in particular to show the evolution of production of fish from fisheries and aquaculture. To highlight the evolution global fish production given two ways to get fish respectively from aquaculture and fisheries, that have used data from FAOSTAT for 2007-2012. Also we can see that approximately 90% of the fish production is fished in the sea and only 10% in the territorial waters. The fish production in Africa had an ascending trend in the period under review. Analyzing fish production the share of total world continents is noted that Asia has a share of 68% in 2007 and increase to 73% in 2012.

  7. New worldwide lipid guidelines.

    Science.gov (United States)

    Saraf, Smriti; Ray, Kausik K

    2015-07-01

    Atherosclerotic cardiovascular disease (ASCVD) remains the leading cause of morbidity and mortality in most countries. Modification of common risk factors such as dyslipidaemia can result in significant reduction of ASCVD incidence in the population and improve clinical outcomes. The purpose of this review is to discuss and compare the latest worldwide lipid guidelines, and to demonstrate the variation in practice in different parts of the world. The lipid guidelines have recently been updated in different countries. The National Institute for Health and Care Excellence (NICE) guidelines in the United Kingdom were issued in July 2014, are risk based and are broadly similar to the American College of Cardiology/American Heart Association task force guidelines that were published in November 2013. Both these guidelines are in variance with both the Canadian Guidelines and the European Society of Cardiology/European Atherosclerosis Society guidelines 2011, which are target based and have different risk scoring systems, which results in significant variation in practice and increased healthcare costs in certain countries. The difference in guidelines in different countries makes it difficult for the clinician to standardize the treatment provided to individuals. The variance in risk scoring systems makes it difficult to compare risk prediction tools across countries and hence the optimum treatment available for a given population. Standardization of guidelines based on randomized controlled trial data and validation and calibration of various risk scoring systems could help improve clinical outcomes in this high-risk group of individuals at risk of ASCVD within individual countries.

  8. Financial Stability and Financial Inclusion

    OpenAIRE

    Peter J. Morgan; Victor Pontines

    2014-01-01

    Developing economies are seeking to promote financial inclusion, i.e., greater access to financial services for low-income households and firms, as part of their overall strategies for economic and financial development. This raises the question of whether financial stability and financial inclusion are, broadly speaking, substitutes or complements. In other words, does the move toward greater financial inclusion tend to increase or decrease financial stability? A number of studies have sugge...

  9. Tax havens and financial markets

    OpenAIRE

    Solvoll, Sigurd Rognmo

    2012-01-01

    This thesis is about some of the effects and implications that tax havens have on our financial markets. It focuses on giving the reader a better understanding of the consequences that tax havens impose to our financial markets using the financial crisis that started in 2007 as an example. The first chapter has a brief introduction that lays the foundation of the thesis. The second chapter defines and explains many different types of tax havens that exist worldwide. The third part considers t...

  10. Worldwide prevalence of hypospadias.

    Science.gov (United States)

    Springer, A; van den Heijkant, M; Baumann, S

    2016-06-01

    Hypospadias is a common congenital malformation. Surgical repair and management of the long-term consequences require a substantial amount of socioeconomic resources. It is generally accepted that genetic and environmental factors play a major role in the etiology of hypospadias. There have been contradictory reports on rising hypospadias rates, and regional and ethnical differences. The exact prevalence of hypospadias is of major interest for healthcare providers, clinical medicine, and research. To review the literature regarding the worldwide prevalence of hypospadias. Pubmed, EMBASE and Google were systematically screened for: hypospadias, congenital malformation, anomaly, incidence, prevalence, and epidemiology. Exclusion criteria were surgical and risk-factor studies. To give an additional comprehensive overview, prevalence data were harvested from the Annual Report of the International Clearinghouse Centre for Birth Defects Surveillance and Research. Prevalence was reported as per 10,000 live births. Data were available from 1910 to 2013. The median study period was 9 years (range: 1-36 years). Approximately 90,255,200 births have been screened in all studies. The mean prevalence were: Europe 19.9 (range: 1-464), North America 34.2 (6-129.8), South America 5.2 (2.8-110), Asia 0.6-69, Africa 5.9 (1.9-110), and Australia 17.1-34.8. There were major geographical, regional, and ethnical differences, with an extreme heterogeneity of published studies. Numerous studies showed an increasing prevalence; on the other hand, there were a lot of contradictory data on the prevalence of hypospadias. The summary table shows contradictory data from the five largest international studies available. There was huge literature available on the prevalence of hypospadias. Most data derived from Europe and North America. Many methodological factors influenced the calculation of an accurate prevalence, and even more of the true changes in prevalence over time (no generally accepted

  11. Financial Education

    Directory of Open Access Journals (Sweden)

    Udo Reifner

    2010-08-01

    Full Text Available New, more or better financial education and financial literacy programmes should lead to improved financial capability, knowledge and outcomes. Yet we do not even know which terminology is most suitable for those projects who all intend to give an answer to a question which is less than clear. What is meant by the term “financial education”? Why did the “demand” for financial education suddenly increase? Have the numerous tasks which consumers in a modern society have to fulfill created this new field for financial education? Are their specific needs of financial markets which need adapted consumers as competent players? Or has the general level of education fallen? Would more ignorance on financial products perhaps increase the likelihood of these markets to care more about consumers? Do we truly need financial education at all and if so, as this article argues, what kind of financial education would respond to it? Based on five years of empirical research, on existing papers and curriculars for financial education and another five years of our own experiences with practical financial education in schools and with clients of debt advice agencies we would like to promote financial education as a form of consumer protection where consumers are seen collectively as the true masters of the economy.

  12. Financial statements

    International Development Research Centre (IDRC) Digital Library (Canada)

    2017-06-21

    Jun 21, 2017 ... This Management's Discussion and Analysis (MD&A) provides a narrative discussion of the financial results and operational changes for the financial year ended on. 31 March 2017. This discussion should be read with the. Financial Statements and accompanying notes provided on pages 51 to 67, which ...

  13. DEVELOPMENT OF WOOD-BASED PRODUCTS WORLDWIDE

    Directory of Open Access Journals (Sweden)

    Marius C. BARBU

    2015-12-01

    Full Text Available The tendency in recent decades for manufacturing plants of semi-finished products such as composite panels, has been to invest in order to achieve high production capacities (>2,000 m³/day for panels and >3,000 t/day for paper with one line. The trend of concentrating the primary processing capacities and manufacturing wood-based panels will continue for the next few years not only in Europe but in North and South America as well. The ten largest panel manufacturers had a combined manufacturing capacity that exceeded a third of the worldwide production capacity. The financial crisis that started in 2008 has caused the closure of a large number of factories especially in North America and Central Europe. Small- and medium-sized producers will only survive if they will continue to specialize in the manufacture of panel types and sizes (niche products that are “unprofitable” for mega-groups. The installed production capacity worldwide of all wood-based composite panels combined (includes PY, PB, MDF, OSB rose by more than 2.5 times between 1980 and 2005 (225 mil.m³, and continues to increase despite the crises reaching approx. 300 mil.m³ in 2013. The forecast for the coming years varies greatly from continent to continent. In North America and Central Europe, both a consolidation of the available production capacities and the closure of less efficient older lines are expected. The lowest point of the effect of the financial crisis on the building industry seems to have been overcome. The furniture production companies will continue to move from one continent and region to another.

  14. Financial Education

    OpenAIRE

    Udo Reifner; Anne Schelhowe

    2010-01-01

    New, more or better financial education and financial literacy programmes should lead to improved financial capability, knowledge and outcomes. Yet we do not even know which terminology is most suitable for those projects who all intend to give an answer to a question which is less than clear. What is meant by the term “financial education”? Why did the “demand” for financial education suddenly increase? Have the numerous tasks which consumers in a modern society have to fulfill created this ...

  15. Financial Literacy and Financial Behaviour

    NARCIS (Netherlands)

    Sayinzoga, Aussi; Bulte, Erwin H.; Lensink, Robert

    2016-01-01

    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

  16. Financial arbitrator

    OpenAIRE

    Jendrulková, Anna

    2014-01-01

    Financial Arbitrator The legislative introduction of the institute of Financial Arbitrator as the relevant authority for settling out-of-court disputes into Czech law is a relatively new phenomenon, and is related to the interests of consumer protection within the European Union. In particular, the interests of the European Union in this area are to reinforce consumer confidence in the financial market. Given the fact that the majority of consumer disputes are so-called petty disputes, and re...

  17. Financial benchmarking

    OpenAIRE

    Palanevich, Yana

    2014-01-01

    This bachelor thesis is focused on financial benchmarking of KBJ VELKOOBCHODY s.r.o. The aim of this study is to evaluate the financial situation of the company and to compare the results within the same field and with the best companies in this branch as well as direct competitors. The purpose is to gain an overview of the financial health of the company and also the relevation of strengths and weaknesses through Benchmarking diagnostic system of financial indicators INFA. The theoretical pa...

  18. Financial mathematics

    CERN Document Server

    Jothi, A Lenin

    2009-01-01

    Financial services, particularly banking and insurance services is the prominent sector for the development of a nation. After the liberalisation of financial sector in India, the scope of getting career opportunities has been widened. It is heartening to note that various universities in India have introduced professional courses on banking and insurance. A new field of applied mathematics has come into prominence under the name of Financial Mathematics. Financial mathematics has attained much importance in the recent years because of the role played by mathematical concepts in decision - m

  19. Aging Education: A Worldwide Imperative

    Science.gov (United States)

    McGuire, Sandra L.

    2017-01-01

    Life expectancy is increasing worldwide. Unfortunately, people are generally not prepared for this long life ahead and have ageist attitudes that inhibit maximizing the "longevity dividend" they have been given. Aging education can prepare people for life's later years and combat ageism. It can reimage aging as a time of continued…

  20. Financial Distress Comparison Across Three Global Regions

    Directory of Open Access Journals (Sweden)

    Harlan D. Platt

    2008-12-01

    Full Text Available Globalization has precipitated movement of output and employment between regions. We examine factors related to corporate financial distress across three continents. Using a multidimensional definition of financial distress we test three hypotheses to explain financial distress using historical financial data. A null hypothesis of a single global model was rejected in favor of a fully relaxed model which created individual financial distress models for each region. This result suggests that despite other indications of worldwide convergence, international differences in accounting rules, lending practices, managements skill levels, and legal requirements among others has kept corporate decline from becoming commoditized.

  1. Financial Literacy, Financial Education, and Economic Outcomes

    Science.gov (United States)

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

    2013-01-01

    In this article, we review the literature on financial literacy, financial education, and consumer financial outcomes. We consider how financial literacy is measured in the current literature and examine how well the existing literature addresses whether financial education improves financial literacy or personal financial outcomes. We discuss the…

  2. Financial Liberalization and Financial Development in Nepal

    OpenAIRE

    Khem Raj Bhetuwal Ph. D.

    2007-01-01

    An efficient financial system can effectively mobilize and allocate resources leading to robust economic growth. Financial liberalization improves the functioning of financial system by increasing the availability of funds and allowing risk diversification and increased investment. The indices of financial liberalization and financial development, generated by the principal component analysis, depict a gradual process of financial liberalization and a continuous financial sector development. ...

  3. Wood-burning stoves worldwide

    DEFF Research Database (Denmark)

    Luis Teles de Carvalho, Ricardo

    More than any time in our history, the wood-burning stove continues to be the most popular technology used for cooking and heating worldwide. According to the World Health Organization and recent scientific studies, the inefficient use of solid-fuels in traditional stoves constitutes the major...... systems, improved efficient retrofits and advanced stove innovations. In chapter 3, four popular wood-burning practices found in five countries were singled-out to be examined closely in four case studies: “cooking in Brazil”, “cooking and heating in Peru”, “heating in Portugal” and “recreational heat...

  4. Financial markets

    OpenAIRE

    Bibow, Jörg

    2011-01-01

    This paper provides a brief exposition of financial markets in Post Keynesian economics. Inspired by John Maynard Keynes's path-breaking insights into the role of liquidity and finance in "monetary production economies," Post Keynesian economics offers a refreshing alternative to mainstream (mis)conceptions in this area. We highlight the importance of liquidity-as provided by the financial system—to the proper functioning of real world economies under fundamental uncertainty, contrasting star...

  5. Regulatory Competition in Global Financial Markets

    DEFF Research Database (Denmark)

    Ringe, Georg

    2016-01-01

    Regulatory arbitrage in financial markets refers to a number of strategies that market participants use to avoid the reach of regulation, in particular by virtue of moving trading abroad or relocating activities or operations of financial institutions to other jurisdictions. Where this happens...... their standards solely to attract business and thereby impose externalities on the worldwide financial market by undermining financial stability as a global public good. Policymakers worldwide are experimenting with remedies to respond to the phenomenon. I introduce the importance of an effective special...... institutions' excessive risk-taking. If such risk-taking would be judged by market discipline instead of posing a risk to global financial stability, the main downside of regulatory competition could be restrained. Within the boundaries of such a system, competition could then operate and contribute...

  6. Arbitrage and Competition in Global Financial Regulation

    DEFF Research Database (Denmark)

    Ringe, Wolf-Georg

    Regulatory arbitrage in financial markets refers to a number of strategies that market participants use to avoid the reach of regulation, in particular by virtue of shifting trading abroad or else relocating activities or operations of financial institutions to other jurisdictions. Where...... their standards solely to attract businesses and thereby impose externalities on the worldwide financial market by undermining financial stability as a global public good. Policymakers worldwide are experimenting with remedies to respond to the phenomenon. I introduce the importance of an effective special...... institutions’ excessive risk-taking. If such risk-taking would be judged by market discipline instead of posing a risk to global financial stability, the main downside of regulatory competition could be restrained. Within the boundaries of such a system, competition could then operate and contribute...

  7. Space Research Fortifies Nutrition Worldwide

    Science.gov (United States)

    2008-01-01

    NASA's Controlled Ecological Life Support Systems program attempted to address basic needs of crews, meet stringent payload and power usage restrictions, and minimize space occupancy, by developing living, regenerative ecosystems that would take care of themselves and their inhabitants. An experiment from this program evolved into one of the most widespread NASA spinoffs of all time-a method for manufacturing an algae-based food supplement that provides the nutrients previously only available in breast milk. Martek Biosciences Corporation, in Columbia, Maryland, now manufactures this supplement, and it can be found in over 90 percent of the infant formulas sold in the United States, as well as those sold in over 65 other countries. With such widespread use, the company estimates that over 24 million babies worldwide have consumed its nutritional additives.

  8. Worldwide molecular epidemiology of HIV

    Directory of Open Access Journals (Sweden)

    Henry I Z Requejo

    2006-04-01

    Full Text Available Human immunodeficiency virus (HIV is the worldwide disseminated causative agent of acquired immunodeficiency syndrome (AIDS. HIV is a member of the Lentivirus genus of Retroviridae family and is grouped in two types named HIV-1 and HIV-2. These viruses have a notable ability to mutate and adapt to the new conditions of human environment. A large incidence of errors at the transcriptional level results in changes on the genetic bases during the reproductive cycle. The elevated genomic variability of HIV has carried important implications for the diagnosis, treatment and prevention as well as epidemiologic investigations. The present review describes important definitions and geographical distribution of subtypes, circulating recombinant forms and other genomic variations of HIV. The present study aimed at leading students of Biomedical Sciences and public health laboratory staff guidance to general and specific knowledge about the genomic variability of the HIV.

  9. Stress testing in financial institutions

    Directory of Open Access Journals (Sweden)

    Mirković Vladimir

    2014-01-01

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

  10. GLOBAL FINANCIAL CRISIS 2008 CAUSES AND CONSEQUENCES FOR RUSSIAN MACROPRUDENTIAL REGULATION

    Directory of Open Access Journals (Sweden)

    Егор Николаевич Поляков

    2013-09-01

    Full Text Available This article analyzes the impact of volatility in global financial markets on the economy of developing countries and the analysis of factors contributing to a greater or lesser degree of vulnerability of the financial systems of developing countries in the global crisis of 2008-2010. Particular attention is paid to the influence of the global financial crisis on the economies of the two groups of developing countries of Southeast Asia and Central and Eastern Europe. On the basis of the analysis due to the dynamics of the main macroeconomic indicators of the Russian Federation during the acute phase of the crisis. The author presents an analysis of the vulnerability of the Russian economy in the event of possible instability in global financial markets at present. The author came to the conclusion that the main reason for which in 2009 the level of GDP growth Russia won 178 seats out of 184 countries, were 2 groups of errors. The first group of errors - errors are system of macro-prudential regulation made by the Central Bank from 2002 to 2007, such as: lack of control and regulation of borrowings of the private and banking sectors to foreign markets, as well as in the domestic market in foreign currency, the loss of control over domestic financial markets, such as: the interbank lending market, the stock market. The second group of errors - errors it committed securities during the crisis. The first error of the Central Bank - a rejection Vat refinance foreign debt of non-financial sector, resulting in an acute liquidity crisis. The second error is stretched for a few months, not a one-time devaluation of the ruble. Price of the second error was 200 billion USD, which the Central Bank lost and speculators earned.DOI: http://dx.doi.org/10.12731/2218-7405-2013-9-4

  11. Euthanasia and related practices worldwide.

    Science.gov (United States)

    Kelleher, M J; Chambers, D; Corcoran, P; Keeley, H S; Williamson, E

    1998-01-01

    The present paper examines the occurrence of matters relating to the ending of life, including active euthanasia, which is, technically speaking, illegal worldwide. Interest in this most controversial area is drawn from many varied sources, from legal and medical practitioners to religious and moral ethicists. In some countries, public interest has been mobilized into organizations that attempt to influence legislation relating to euthanasia. Despite the obvious international importance of euthanasia, very little is known about the extent of its practice, whether passive or active, voluntary or involuntary. This examination is based on questionnaires completed by 49 national representatives of the International Association for Suicide Prevention (IASP), dealing with legal and religious aspects of euthanasia and physician-assisted suicide, as well as suicide. A dichotomy between the law and medical practices relating to the end of life was uncovered by the results of the survey. In 12 of the 49 countries active euthanasia is said to occur while a general acceptance of passive euthanasia was reported to be widespread. Clearly, definition is crucial in making the distinction between active and passive euthanasia; otherwise, the entire concept may become distorted, and legal acceptance may become more widespread with the effect of broadening the category of individuals to whom euthanasia becomes an available option. The "slippery slope" argument is briefly considered.

  12. The worldwide ionospheric data base

    Science.gov (United States)

    Bilitza, Dieter

    1989-01-01

    The worldwide ionospheric data base is scattered over the entire globe. Different data sets are held at different institutions in the U.S., U.S.S.R., Australia, Europe, and Asia. The World Data Centers on the different continents archive and distribute part of the huge data base; the scope and cross section of the individual data holdings depend on the regional and special interest of the center. An attempt is made to pull together all the strings that point toward different ionospheric data holdings. Requesters are provided with the information about what is available and where to get it. An attempt is also made to evaluate the reliability and compatibility of the different data sets based on the consensus in the ionospheric research community. The status and accuracy of the standard ionospheric models are also discussed because they may facilitate first order assessment of ionospheric effects. This is a first step toward an ionospheric data directory within the framework of NSSDC's master directory.

  13. Application of electron accelerator worldwide

    Energy Technology Data Exchange (ETDEWEB)

    Machi, Sueo [Japan Atomic Industrial Forum, Inc., Tokyo (Japan)

    2003-02-01

    Electron accelerator is an important radiation source for radiation technology, which covers broad fields such as industry, health care, food and environmental protection. There are about 1,000 electron accelerators for radiation processing worldwide. Electron accelerator has advantage over Co-60 irradiator in term of high dose rate and power, assurance of safety, and higher economic performance at larger volume of irradiation. Accelerator generating higher energy in the range of 10 MeV and high power electron beam is now commercially available. There is a trend to use high-energy electron accelerator replacing Co-60 in case of large through-put of medical products. Irradiated foods, in particular species, are on the commercial market in 35 countries. Electron accelerator is used efficiently and economically for production of new or modified polymeric materials through radiation-induced cross-linking, grafting and polymerization reaction. Another important application of electron beam is the curing of surface coatings in the manufacture of products. Electron accelerators of large capacity are used for cleaning exhaust gases in industrial scale. Economic feasibility studies of this electron beam process have shown that this technology is more cost effective than the conventional process. It should be noted that the conventional limestone process produce gypsum as a by-product, which cannot be used in some countries. By contrast, the by-product of the electron beam process is a valuable fertilizer. (Y. Tanaka)

  14. Financial statements

    International Development Research Centre (IDRC) Digital Library (Canada)

    travel to deliver programs, through intelligence gathering, procedures, and .... Annual value (number) of agreements signed and amended. Unspent agreement ...... The financial statements are presented in Canadian dollars and all values are rounded to the nearest thousand ($000) except where otherwise indicated.

  15. FINANCIAL LITERACY, FINANCIAL EDUCATION AND ECONOMIC OUTCOMES.

    Science.gov (United States)

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

    2013-05-01

    In this article we review the literature on financial literacy, financial education, and consumer financial outcomes. We consider how financial literacy is measured in the current literature, and examine how well the existing literature addresses whether financial education improves financial literacy or personal financial outcomes. We discuss the extent to which a competitive market provides incentives for firms to educate consumers or offer products that facilitate informed choice. We review the literature on alternative policies to improve financial outcomes, and compare the evidence to evidence on the efficacy and cost of financial education. Finally, we discuss directions for future research.

  16. Worldwide Status of EUV Astronomy

    Science.gov (United States)

    Kowalski, Michael P.; Wood, K. S.; Barstow, M. A.

    2013-01-01

    The bulk of radiation from million-degree plasmas is emitted at EUV wavelengths, which include critical spectral features containing diagnostic information often not available at other wavelengths (e.g., He II Ly series 228-304 Å). Thus, EUV astrophysics (Barstow & Holberg 2003) presents opportunities for intriguing results obtainable with sensitive high-resolution spectroscopy and particularly applicable to hot plasmas in stellar coronae, white dwarfs and the interstellar medium. The US-built J-PEX spectrometer has flown twice on sounding rockets, observing and publishing results on two white dwarf targets (Cruddace et al. 2002, Barstow et al. 2005, Kowalski et al. 2011). Using multilayer-grating technology, J-PEX delivers both high effective area and the world's highest resolution in EUV, greater than Chandra at adjacent energies, but in a waveband Chandra cannot reach. However, the US program has been stalled by inability to obtain further NASA sounding rocket flights. A high level of technology readiness, plus important questions answerable solely with that technology, does not seem sufficient to win support. Nor is the substantial amount of resources invested into technology development over two decades, supported by NASA, DoD, and European partners. Proposals to turn the instrument or its technology into small satellite-based surveys have been made (results to be described) in the US and Europe, but the overall situation is precarious. The entire EUV astrophysics field is losing out on an opportunity, and is at risk of fading away, with forced discard of established assets. Only mobilization of the international EUV community -- unifying European, US, and perhaps others -- can reverse this situation. Our poster summarizes science quests within reach of proven technology, gives a current snapshot of that technology, and provides a summary of worldwide efforts to obtain necessary space access in NASA, ESA, and elsewhere. A process for building and maintaining

  17. Financial sector taxation: Financial activities tax or financial transaction tax?

    Directory of Open Access Journals (Sweden)

    Danuše Nerudová

    2011-01-01

    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.

  18. Introduction: Training in reproductive endocrinology and infertility: meeting worldwide needs.

    Science.gov (United States)

    de Ziegler, Dominique; Meldrum, David R

    2015-07-01

    Training in reproductive endocrinology (REI) and its male variant, andrology, has been profoundly influenced by the central role captured by assisted reproductive technologies (ART). The marked differences in financial, regulatory, and societal/ethical restrictions on ART in different countries of the world also prominently influence the clinical management of infertility. Training should strive for comprehensive teaching of all medically indicated procedures, even if only to optimize cross-border care. Better international standardization of infertility practices and training would benefit worldwide infertility care and should be promoted by international societies. Copyright © 2015. Published by Elsevier Inc.

  19. Financial History

    OpenAIRE

    Cassis, Y.; Cottrell, P. L

    2017-01-01

    The considerable renewal of interest in all aspects of financial history over recent years provided one motivation for this new venture. Yet, the foundations for our specialism, which draws from both History and the Social Sciences, especially economics, have been laid by many. Some would point to continuity in our interest from the publication in the 1930s of jubilee banking history volumes, such as those written for British institutions by Gregory, and by Crick and Wadsworth. Further schola...

  20. Financial Statements Analysis

    OpenAIRE

    Tănase Alin-Eliodor

    2014-01-01

    This article focuses on analyzing of a consolidated financial statements of a hypothetically SME. The interpretation of the financial position and performances is based on the more than 40 financial key ratios computed by using financial data from consolidated income statement, consolidated financial position and cash flow. However additional data from notes to financial statements are provided.

  1. Innovation in Science Education - World-Wide.

    Science.gov (United States)

    Baez, Albert V.

    The purpose of this book is to promote improvements in science education, world-wide, but particularly in developing countries. It is addressed to those in positions to make effective contributions to the improvement of science education. The world-wide role of science education, the goals of innovative activities, past experience in efforts to…

  2. The actual challenges of financial literacy

    Directory of Open Access Journals (Sweden)

    Mitchell Jan W.

    2016-01-01

    Full Text Available In our always-evolving world, financial literacy and inclusion are crucial in the development of sustainable welfare and a more transparent and fairer society. We cannot forget that the subprime mortgage crisis of 2008 that has continued across the world to this day has financial illiteracy as one of the most aggravating factors. The main challenge for many consumers worldwide is that the requirements of adequate financial literacy skills have been steadily increasing over time. Individuals have to take a wide range of financial decisions and unfortunately, they sometimes overlook or simply do not know the risk attached with the decisions they are making until it is too late. The main challenges for financial literacy at the micro-level, meso-level, and macro-level are over deference to the financial industry, lack of financial knowledge, overconfidence about financial knowledge, lack of government initiatives, frameworks and regulations, lack of life-cycle planning and interesting and fascinating ways to teach financial literacy skills.

  3. Does a financial crisis make consumers increasingly prudent?

    NARCIS (Netherlands)

    L.H.J. Noordegraaf-Eelens (Liesbeth); Ph.H.B.F. Franses (Philip Hans)

    2014-01-01

    markdownabstract__Abstract__ Given the enormous impact of the 2007-2010 worldwide financial crisis on societies, one may wonder what the impact was on individual consumer behavior concerning financial products and services. A natural expectation would be that the crisis made people aware of the

  4. The financial trilemma

    NARCIS (Netherlands)

    Schoenmaker, D.

    2011-01-01

    The financial trilemma states that financial stability, financial integration and national financial policies are incompatible. Any two of the three objectives can be combined but not all three; one has to give. This paper develops a model to underpin the financial trilemma. © 2011 Elsevier B.V.

  5. A comparative analysis of returns of various financial asset classes ...

    African Journals Online (AJOL)

    kirstam

    2014-12-09

    Dec 9, 2014 ... As such it is anticipated worldwide that many pension funds and other institutional investors invest in the South African equities to track the worldwide emerging market index. This study analyses the performance of equities compared with bonds and cash in the South African financial markets as a proxy for ...

  6. Financial Village Standing in Indonesian Financial System

    Directory of Open Access Journals (Sweden)

    Herry Purnomo

    2015-12-01

    Full Text Available Financial resources of the village that are sourced from a country or a Regional Finance Financial based Law Number 6 Year 2014 of The Village is the mandate of the law that must be allocated to the village. The interconnectedness of the financial position of the village in the financial system of the country or Region concerned the Financial administrative and territorial relations, and there is no setting directly regarding the finances of the village as part of the financial system of the country or the financial area. In respect of the elements of the crime of corruption deeds against financial irregularities of the village there are still disagreements on the interpretation of the law in trapping the perpetrators of corruption on the village chief that implies not satisfy the principle of legality and legal certainty in the ruling of the matter of financial irregularities. In fact, many of the village chief or Councilor caught the criminal offence of corruption over the use of financial irregularities. This research analyzes How the financial position of the village in the financial system of the country or region, as well as whether the financial resources of the village is derived from the state budget or region budget managed in village budget belongs to the category of village finances and whether tort against the financial management of the village can be categorized as a criminal act corruption. How To Cite: Purnomo, H. (2015. Financial Village Standing in Indonesian Financial System. Rechtsidee, 2(2, 121-140. doi:http://dx.doi.org/10.21070/jihr.v2i2.81

  7. Financial Advisor - Budget and Financial Management | IDRC ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    Job Summary As the most senior budget team member, the Financial Advisor assumes key responsibilities in the preparation of the annual program of work and budget of the Centre (xx cost centres totalling expending some $190 M in 2007-2008). The Financial Advisor also maintains and refines as needed financial ...

  8. Heart Disease the No. 1 Killer Worldwide

    Science.gov (United States)

    ... page: https://medlineplus.gov/news/fullstory_165667.html Heart Disease the No. 1 Killer Worldwide Low-cost, effective ... deaths around the world are the result of heart disease and stroke, making cardiovascular disease the number one ...

  9. Comparison of the financial performance of Islamic and conventional bank in Malaysia during and after economic crisis

    Science.gov (United States)

    Kadir, Norhidayah A.; Jaffar, Aidatullaini; Abdullah, Nur Lina; Harun, Nurzalina

    2013-09-01

    This paper is a continuation of our former work. In this paper, we compare the financial performance of the two banking systems that exist in Malaysia over two periods of time, during economic crisis (1997-1999) and after economic crisis (2001-2003). In order to see the conventional as well as Islamic bank's performance over these two periods of time, the study uses 10 financial ratios which are broadly categorized into 4 groups: (a) profitability ratios; (b) liquidity ratios; (c) risk and solvency ratios; and (d) efficiency ratios. Next, the study used T-test in determining the significance of the differential performance of the two banks over two periods of time. By using inter-bank comparison, the study found that, conventional bank has better performance, efficient, more profitable and has greater risk as compared to Islamic bank. However, in terms of utilizing asset, Islamic bank is better than conventional bank. As an overall, conventional bank is better in much aspect due to the longer history and experience in the industry than Islamic bank that start their operation in 1983.

  10. TRENDS IN THE EVOLUTION OF WORLDWIDE FOREIGN DIRECT INVESTMENTS

    Directory of Open Access Journals (Sweden)

    Maria Ramona Sarbu

    2014-06-01

    Full Text Available The flows of foreign direct investments constitutes a major component of the phenomena that manifest themselves in the world economy, these representing financial resources geared toward a particular investment area that allow those who invest to develop operations over which they have the control and the decision-making power. Given the fact that the world economy is characterized by the increasing interconnectedness of national states as a result of spreading the links in the spheres of economic, political, social and cultural life, following starting with 2008 a period of unusual developments, the purpose of the paper is to analyze the evolution of worldwide foreign direct investment (FDI inflows, before and after the onset of the global economic crisis.

  11. Miraculous financial engineering or toxic finance? The genesis of the U.S. subprime mortgage loans crisis and its consequences on the global financial markets and real economy

    Directory of Open Access Journals (Sweden)

    Ivo Pezzuto

    2012-09-01

    Full Text Available In the fall of 2008, the U.S. subprime mortgage loans defaults have turned into Wall Street’s biggest crisis since the Great Depression. As hundreds of billions in mortgage-related investments went bad, banks became suspicious of one another’s potential undisclosed credit losses and preferred to reduce their exposure in the interbank markets, thus causing interbank interest rates and credit default swaps increases, a liquidity shortage problem and a worsened credit crunch condition to consumers and businesses. Massive cash injections into money markets and interest rates reductions have been assured by central banks in an attempt to shore up banks and to restore confidence within the financial system. Even Governments have promoted bail-out deal agreements, protections from bankruptcies, recapitalizations and bank nationalizations in order to rescue banks from disastrous bankruptcies. The credit crisis originated in the previous years when the Federal Reserve sharply lowered interest rates (Fed Funds at 1% to limit the economic damage of the stock market decline due to the 2000 dot.com companies’ crisis. Lower interest rates made mortgage payments cheaper, and the demand for homes began to rise, sending prices up. In addition, millions of homeowners took advantage of the rate drop to refinance their existing mortgages. As the industry ramped up, the quality of the mortgages went down due to poor credit origination and credit risk assessment. Delinquency and default rates began to rise in 2006 as interest rates rose (Fed Funds at 5,25% and poor households across the US struggled to pay off their mortgages. Many of them went bankrupt and lost their homes but the pace of lending did not slow. Banks have transformed much of the high-risk mortgage debt (securitizations into mortgage-backed securities (MBS and collateralised debt obligations (CDO, and have sold these assets on the financial markets to investment firms and insurance companies

  12. The Library as a Business: Mapping the Pervasiveness of Financial Relationships in Today's Library.

    Science.gov (United States)

    Hayes, Sherman; Brown, Don

    1994-01-01

    Presents a trend analysis, using the college library as a model, which maps internal and external financial contacts to show the complexity of library financial dealings. Topics discussed include Total Quality Management; the library's financial role in the parent organization and in worldwide finances; and the profession's response to change.…

  13. Market Failure, Regulation and Education of Financial Advisors

    Directory of Open Access Journals (Sweden)

    Adam Steen

    2016-04-01

    Full Text Available This paper explores the recent series of financial scandals in the Australian financial advice industry. It examines the causes, consequences and responses to theses scandals by financial institutions, investors and regulators through the lens of relevant finance theory and extant literature. Although the paper focuses on the recent Australian experience the discussion and findings presented are of relevance to financial market regulation worldwide. It is proposed that a combination of compensation, education, training and structural reforms are required to reduce the undesirable effects of information asymmetry, adverse selection and moral hazard in the finance sector.

  14. Financial analysis as a financial management instrument

    Directory of Open Access Journals (Sweden)

    Stehlíková Beáta

    2001-12-01

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

  15. Equipment and services for worldwide applications

    Energy Technology Data Exchange (ETDEWEB)

    1985-01-01

    The report presents a digest of geothermal energy technology. The worldwide distribution of geothermal resources is described, and the degree to which various countries are exploiting their resources estimated. Detailed information about US technologies is presented, from exploration through applications to cost factors. (ACR)

  16. Youth Purpose Worldwide: A Tapestry of Possibilities

    Science.gov (United States)

    Moran, Seana

    2017-01-01

    Interest in youth purpose is growing among scholars around the world. With globalization, better understanding of life purposes in different countries becomes more important as this generation's youth are influenced by ideas and events anywhere. This special issue contributes to this inclusive, worldwide frame of mind by showcasing work done…

  17. Practical C++ financial programming

    CERN Document Server

    Oliveira, Carlos

    2015-01-01

    Practical C++ Financial Programming is a hands-on book for programmers wanting to apply C++ to programming problems in the financial industry. The book explains those aspects of the language that are more frequently used in writing financial software, including the STL, templates, and various numerical libraries. The book also describes many of the important problems in financial engineering that are part of the day-to-day work of financial programmers in large investment banks and hedge funds. The author has extensive experience in the New York City financial industry that is now distilled in

  18. COMPUTER MODELING OF FINANCIAL INFORMATION FOR BUSINESS PLANS (XBRL - EXTENSIBLE BUSINESS REPORTING LANGUAGE

    Directory of Open Access Journals (Sweden)

    Valeriu LUPU

    2017-06-01

    Full Text Available The quality of a manager's decision improves based on high quality financial statements, hence the need to find means to increase the quality of financial reporting, specifically to increase the quality of the assurance process. The ultimate aim is to reduce the skepticism of users of financial data and to use XBRL as Internet-based technology to enable electronic preparation and exchange of worldwide financial statements.

  19. Structured finance influence on financial market stability: Evaluation of current regulatory developments

    OpenAIRE

    Schütz, Sebastian A.

    2010-01-01

    In 2007 the world faced one of the biggest financial crises ever. It was the third important financial crisis in the last 12 years. Spillovers to the real economy and moral hazard behaviour of carpetbaggers resulted in enormous pressure on worldwide political institutions to approve a more rigorous regulation on financial institutions and to predict financial crises via early warning systems. We analyzed the performance of structured finance ratings and structured finance issuance/outstanding...

  20. International financial reporting standards and financial reporting ...

    African Journals Online (AJOL)

    The results showed that financial reporting quality increased after the adoption of the IFRS for all the relevant proxies. The study concludes that the adoption of IFRS to enhance financial reporting quality while reducing the probability of earnings management practices could be beneficial in the long run to the Nigerian ...

  1. THE GLOBAL FINANCIAL CRISIS AND NATIONAL FINANCIAL ...

    African Journals Online (AJOL)

    language, globalization of finance is evident as the integration of the financial systems of many countries of the world. On the other hand, financial crisis describes ..... Berger, A. N (2000) “ The Ability of Banks to Lend to Informationally Opaque Small. Business” FRB Chicago Working Paper Series. Bossone, B.; Honohan, P.

  2. Financial Literacy, Confidence and Financial Advice Seeking

    NARCIS (Netherlands)

    Kramer, Marc M.

    2016-01-01

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

  3. Worldwide Report, Telecommunications Policy, Research and Development.

    Science.gov (United States)

    1984-03-13

    Service in Indonesian 0700 GMT 13 Feb 84] CSO: 5500/4371 MALAYSIA BRIEFS DIRECT INTERNATIONAL CALLS— Malaysians can now make direct international...competition with Intelsat in intercontinental communications over the Atlantic would end up by depriving that organization of the financial surplus that it...emblazoned with IBM. The caption: "The most important thing you can ask of a computer company is to be able to sleep in peace." IBM watches over you

  4. Exploring the Universe with the Worldwide Telescope

    Science.gov (United States)

    Fay, J. E.

    2014-12-01

    Microsoft Research WorldWide Telescope is a software platform for exploring the universe. Whether you are a researcher, student or just a casual explorer WorldWide Telescope uses cutting edge technology to take you anywhere in the universe and visualize data collected by science programs from across the globe, including NASA great observatories and planetary probes. WWT leverages technologies such as Virtual reality headsets, multi-channel full dome projection and HTML5/WebGL to bring the WWT experience to any device and any scale. We will discuss how to use WWT to browse previously curated data, as well as how to process and visualize your own data, using examples from NASA Mars missions.

  5. Worldwide distribution of subaquatic gas hydrates

    Science.gov (United States)

    Kvenvolden, K.A.; Ginsburg, G.D.; Soloviev, V.A.

    1993-01-01

    Sediments containing natural gas hydrates occur worldwide on continental and insular slopes and rises of active and passive margins, on continental shelves of polar regions, and in deep-water (> 300 m) environments of inland lakes and seas. The potential amount of methane in natural gas hydrates is enormous, with current estimates at about 1019 g of methane carbon. Subaquatic gas hydrates have been recovered in 14 different areas of the world, and geophysical and geochemical evidence for them has been found in 33 other areas. The worldwide distribution of natural gas hydrates is updated here; their global importance to the chemical and physical properties of near-surface subaquatic sediments is affirmed. ?? 1993 Springer-Verlag.

  6. CMS Centres Worldwide - a New Collaborative Infrastructure

    CERN Document Server

    Taylor, Lucas

    2011-01-01

    Webcasts, and generic Web tools such as CMS-TV for broadcasting live monitoring and outreach information. Being Web-based and experiment-independent, these systems could easily be extended to other organizations. We describe the experiences of using CMS Centres Worldwide in the CMS data-taking operations as well as for major media events with several hundred TV channels, radio stations, and many more press journalists simultaneously around the world.

  7. Worldwide variability in deceased organ donation registries

    OpenAIRE

    Rosenblum, Amanda M.; Li, Alvin Ho-ting; Roels, Leo; Stewart, Bryan; Prakash, Versha; Beitel, Janice; Young, Kimberly; Shemie, Sam; Nickerson, Peter; Garg, Amit X.

    2012-01-01

    The variability in deceased organ donation registries worldwide has received little attention. We considered all operating registries, where individual wishes about organ donation were recorded in a computerized database. We included registries which recorded an individual's decision to be a donor (donor registry), and registries which only recorded an individual's objection (non-donor registry). We collected information on 15 characteristics including history, design, use and number of regis...

  8. Reference worldwide model for antineutrinos from reactors

    OpenAIRE

    Baldoncini, Marica; Callegari, Ivan; Fiorentini, Giovanni; Mantovani, Fabio; Ricci, Barbara; Strati, Virginia; Xhixha, Gerti

    2014-01-01

    Antineutrinos produced at nuclear reactors constitute a severe source of background for the detection of geoneutrinos, which bring to the Earth's surface information about natural radioactivity in the whole planet. In this framework we provide a reference worldwide model for antineutrinos from reactors, in view of reactors operational records yearly published by the International Atomic Energy Agency (IAEA). We evaluate the expected signal from commercial reactors for ongoing (KamLAND and Bor...

  9. Worldwide Carsharing Growth: An International Comparison

    OpenAIRE

    Shaheen, Susan A; Cohen, Adam P.

    2008-01-01

    Carsharing (or short-term auto use) provides a flexible alternative that meets diverse transportation needs across the globe while reducing the negative impacts of private vehicle ownership. Although carsharing appeared in Europe between the 1940s and 1980s, the concept did not become popularized until the early 1990s. For nearly 20 years, worldwide participation in carsharing has been growing. Today, carsharing operates in approximately 600 cities around the world, in 18 nations and on 4 con...

  10. Worldwide survey of absorption fluids data

    Energy Technology Data Exchange (ETDEWEB)

    Macriss, R.A.; Zawacki, T.S.

    1988-01-01

    The overall objective of this study is to develop improved data for the thermodynamic, transport and physical properties of absorption fluids. A specific objective of this phase of the study is to compile, catalog and coarse-screen the available worldwide data of known absorption fluid systems and publish it as a reference document to be distributed to manufacturers, researchers and others active in absorption heat pump activities. 3 refs., 3 figs., 1 tab.

  11. Financial Integrity Benchmarks

    Data.gov (United States)

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

  12. Measuring financial market stress

    OpenAIRE

    Kevin L. Kliesen; Smith, Douglas C.

    2010-01-01

    Although the St. Louis Financial Stress Index suggests the level of financial stress in the markets has declined significantly since September 2008, the stress level remains modestly higher than average.

  13. Financial Key Ratios

    OpenAIRE

    Tănase Alin-Eliodor

    2014-01-01

    This article focuses on computing techniques starting from trial balance data regarding financial key ratios. There are presented activity, liquidity, solvency and profitability financial key ratios. It is presented a computing methodology in three steps based on a trial balance.

  14. CMS Financial Reports

    Data.gov (United States)

    U.S. Department of Health & Human Services — This section contains the annual CMS financial statements as required under the Chief Financial Officers (CFO) Act of 1990 (P.L. 101-576). The CFO Act marked a major...

  15. Financial Markets and Compliance

    NARCIS (Netherlands)

    van de Laar, T.A.H.M.; Bleker, Sylvie; Houben, Raf

    2017-01-01

    This chapter will focus on the goals of financial market regulation through the rules of economics, the strategies financial regulation employs to achieve these goals and the insights this provides for the compliance profession. For an overview of the goals and strategies of financial regulation

  16. Financial Sector Assessment

    OpenAIRE

    World Bank; International Monetary Fund

    2017-01-01

    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...

  17. Marketing Financial Aid

    Science.gov (United States)

    Huddleston, Thomas, Jr.; Batty, Burt F.

    1978-01-01

    Student financial assistance services are becoming a major part of the institutional marketing plan as traditional college-age students decline in numbers and price competition among institutions increases. The effect of financial aid on enrollment and admissions processes is discussed along with the role of the financial aid officer. (Author/LBH)

  18. Financial heat machine

    Science.gov (United States)

    Khrennikov, Andrei

    2005-05-01

    We consider dynamics of financial markets as dynamics of expectations and discuss such a dynamics from the point of view of phenomenological thermodynamics. We describe a financial Carnot cycle and the financial analog of a heat machine. We see, that while in physics a perpetuum mobile is absolutely impossible, in economics such mobile may exist under some conditions.

  19. Does financial literacy improve financial inclusion? Cross country evidence

    OpenAIRE

    Grohmann, Antonia; Klühs, Theres; Menkhoff, Lukas

    2017-01-01

    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...

  20. Sources of Financial Sociability

    DEFF Research Database (Denmark)

    Thompson, Grahame

    2011-01-01

    This article investigates the sources of sociability in modern financial systems as a prelude to assessing the prospects for financial regulation. Three sources are identified: sociality dependent upon contract, upon relational interdependency, and upon the operation of will and passion. Each...... of the article which is to explore further the nature of ‘irrationality’ as manifest in financial crises. When the contours of both these aspects of financial calculation have been elaborated, the article moves on to consider how they might shape regulatory responses to the seeming inevitability of financial...

  1. Financial Integration and Financial Crisis: Croatia Approaching the EMU

    Directory of Open Access Journals (Sweden)

    Dražen Derado

    2009-09-01

    Full Text Available The breakdown of command economies has significantly increased growth potentials all over Europe and opened up prospects for economic development. Encouraged by that, the EU embarked on the process of deeper economic integration. Its main aspects – economic liberalization and monetary integration – coincided with the worldwide globalization of trade and capital flows. As a laggard country in the process of economic integration, Croatia is in a particularly difficult position – besides soaring trade deficit, it is highly indebted and strongly dependant upon foreign capital. Appreciating theoretical inferences and empirical evidence on monetary integration, while taking reference to the realized level of international financial integration and external vulnerability, the aim of the paper is to find out if Croatia fulfils the criteria for successful monetary integration.

  2. Book Review: "Financial Therapy: 5 Steps Toward Financial Freedom

    OpenAIRE

    Megan McCoy; D. Bruce Ross

    2013-01-01

    Financial Therapy: 5 Steps Toward Financial Freedom and its accompanying workbook, Guide to Financial Therapy Forms and Handouts: 5 Steps Toward Financial Freedom, was created to provide an intervention model to help clients become more financially literate and protect them from financial predators.

  3. Book Review: "Financial Therapy: 5 Steps Toward Financial Freedom

    Directory of Open Access Journals (Sweden)

    Megan McCoy

    2013-08-01

    Full Text Available Financial Therapy: 5 Steps Toward Financial Freedom and its accompanying workbook, Guide to Financial Therapy Forms and Handouts: 5 Steps Toward Financial Freedom, was created to provide an intervention model to help clients become more financially literate and protect them from financial predators.

  4. Reviss to market Russian isotopes worldwide

    Energy Technology Data Exchange (ETDEWEB)

    Latham, I.A. (Reviss services, Aylesbury (United Kingdom))

    1992-12-01

    The culmination of two years of detailed negotiations saw the formation of Reviss Services in April 1992. This joint venture company is a collaboration between Amersham International (Health Science Group), the Mayak Production Association (manufacturer of radioisotopes) and AO Techsnabexport (the Russian export agency). It is set up to enable a variety of Russian-manufactured radioisotopes to be marketed worldwide. Formation of the joint venture company was made possible by the recent political changes in the former Soviet Union, allowing the three parties to extend their long-standing commercial trading relationship into a full working partnership. (Author).

  5. Health warnings on tobacco products - worldwide, 2007.

    Science.gov (United States)

    2009-05-22

    Many countries require that tobacco product packaging includes health warnings about the risks associated with tobacco use. Health warnings on tobacco product packages are effective in highlighting the perception of health risk, supporting the intention to quit tobacco use, discouraging the intention to begin tobacco use, and increasing cessation rates. Prominent displays of health warnings increase their effectiveness; larger warnings, with pictures, are more likely to be noticed, better communicate health risks, provoke greater emotional response, and further motivate tobacco users to quit. This report assesses the current status of tobacco packaging health warning requirements worldwide. Governments could further discourage tobacco use by requiring prominent health warnings on tobacco packaging.

  6. Origins of food crops connect countries worldwide

    Science.gov (United States)

    Achicanoy, Harold A.; Bjorkman, Anne D.; Navarro-Racines, Carlos; Guarino, Luigi; Flores-Palacios, Ximena; Engels, Johannes M. M.; Wiersema, John H.; Dempewolf, Hannes; Sotelo, Steven; Ramírez-Villegas, Julian; Castañeda-Álvarez, Nora P.; Fowler, Cary; Jarvis, Andy; Rieseberg, Loren H.; Struik, Paul C.

    2016-01-01

    Research into the origins of food plants has led to the recognition that specific geographical regions around the world have been of particular importance to the development of agricultural crops. Yet the relative contributions of these different regions in the context of current food systems have not been quantified. Here we determine the origins (‘primary regions of diversity’) of the crops comprising the food supplies and agricultural production of countries worldwide. We estimate the degree to which countries use crops from regions of diversity other than their own (‘foreign crops’), and quantify changes in this usage over the past 50 years. Countries are highly interconnected with regard to primary regions of diversity of the crops they cultivate and/or consume. Foreign crops are extensively used in food supplies (68.7% of national food supplies as a global mean are derived from foreign crops) and production systems (69.3% of crops grown are foreign). Foreign crop usage has increased significantly over the past 50 years, including in countries with high indigenous crop diversity. The results provide a novel perspective on the ongoing globalization of food systems worldwide, and bolster evidence for the importance of international collaboration on genetic resource conservation and exchange.

  7. Stationary power fuel cell commercialization status worldwide

    Energy Technology Data Exchange (ETDEWEB)

    Williams, M.C. [Dept. of Energy, Morgantown, WV (United States)

    1996-12-31

    Fuel cell technologies for stationary power are set to play a role in power generation applications worldwide. The worldwide fuel cell vision is to provide powerplants for the emerging distributed generation and on-site markets. Progress towards commercialization has occurred in all fuel cell development areas. Around 100 ONSI phosphoric acid fuel cell (PAFC) units have been sold, with significant foreign sales in Europe and Japan. Fuji has apparently overcome its PAFC decay problems. Industry-driven molten carbonate fuel cell (MCFC) programs in Japan and the U.S. are conducting megawatt (MW)-class demonstrations, which are bringing the MCFC to the verge of commercialization. Westinghouse Electric, the acknowledged world leader in tubular solid oxide fuel cell (SOFC) technology, continues to set performance records and has completed construction of a 4-MW/year manufacturing facility in the U.S. Fuel cells have also taken a major step forward with the conceptual development of ultra-high efficiency fuel cell/gas turbine plants. Many SOFC developers in Japan, Europe, and North America continue to make significant advances.

  8. Worldwide variability in deceased organ donation registries.

    Science.gov (United States)

    Rosenblum, Amanda M; Li, Alvin Ho-Ting; Roels, Leo; Stewart, Bryan; Prakash, Versha; Beitel, Janice; Young, Kimberly; Shemie, Sam; Nickerson, Peter; Garg, Amit X

    2012-08-01

    The variability in deceased organ donation registries worldwide has received little attention. We considered all operating registries, where individual wishes about organ donation were recorded in a computerized database. We included registries which recorded an individual's decision to be a donor (donor registry), and registries which only recorded an individual's objection (non-donor registry). We collected information on 15 characteristics including history, design, use and number of registrants for 27 registries (68%). Most registries are nationally operated and government-owned. Registrations in five nations expire and require renewal. Some registries provide the option to make specific organ selections in the donation decision. Just over half of donor registries provide legally binding authorization to donation. In all national donor registries, except one, the proportion of adults (15+) registered is modest (donation decision mandatory to obtain a driver's license. Registered objections in non-donor registries are rare (organ donor registries worldwide necessitates public discourse and quality improvement initiatives, to identify and support leading practices in registry use. © 2012 The Authors. Transplant International © 2012 European Society for Organ Transplantation.

  9. Norovirus contamination found in oysters worldwide.

    Science.gov (United States)

    Cheng, Peter K C; Wong, Derek K K; Chung, Thomas W H; Lim, Wilina W L

    2005-08-01

    Noroviruses (Norwalk-like viruses) are recognized as major causes of acute gastroenteritis worldwide. Outbreaks of norovirus gastroenteritis are often associated with consumption of oysters. In this study, oysters imported into Hong Kong from 11 countries over a 3-year period were screened by RT-PCR. Overall, 53 out of 507 (10.5%) samples were positive for norovirus-RNA, and a wide variety of strains were found. Two novel genetic clusters were detected, which could indicate novel human or animal norovirus strains. However, whether these two new clusters are of human or animal origin is not known. Thirteen outbreaks, in which oysters were implicated as the source of infection were investigated: Norovirus RNA sequences could be detected in oysters from six outbreaks, but only in one outbreak the strains isolated from patients and oysters matched (>98% homology). Therefore, RT-PCR was of use in detecting norovirus contamination of oysters implicated in an outbreak, but was less useful in demonstrating an actual molecular epidemiological link with human cases. It was shown that contamination by noroviruses could be demonstrated in oysters worldwide, and therefore oysters may serve as an important vehicle for introducing novel norovirus strains. (c) 2005 Wiley-Liss, Inc.

  10. The nursing shortage: a worldwide problem

    Directory of Open Access Journals (Sweden)

    Rachel Z. Booth

    Full Text Available A worldwide shortage of nurses has been acknowledged by the multidisciplinary Global Advisory Group of the World Health Organization. The shortage is caused by an increased demand for nurses, while fewer people are choosing nursing as a profession and the current nurses worldwide are aging. The shortage applies to nurses in practice as well as the nurse faculty who teach students. The inter-country recruitment and migration of nurses from developing countries to developed countries exacerbates the problem. Although public opinion polls identifies the nurse as the person who makes the health care system work for them, the conditions of the work environment in which the nurse functions is unsatisfactory and must change. Numerous studies have shown the positive effects on the nurse of a healthy work environment and the positive relationships between nursing care and patient outcomes. It is important that government officials, insurance companies, and administrators and leaders of health care systems acknowledge and operationalize the value of nurses to the health care system in order to establish and maintain the integrity and viability of that system.

  11. The nursing shortage: a worldwide problem

    Directory of Open Access Journals (Sweden)

    Booth Rachel Z.

    2002-01-01

    Full Text Available A worldwide shortage of nurses has been acknowledged by the multidisciplinary Global Advisory Group of the World Health Organization. The shortage is caused by an increased demand for nurses, while fewer people are choosing nursing as a profession and the current nurses worldwide are aging. The shortage applies to nurses in practice as well as the nurse faculty who teach students. The inter-country recruitment and migration of nurses from developing countries to developed countries exacerbates the problem. Although public opinion polls identifies the nurse as the person who makes the health care system work for them, the conditions of the work environment in which the nurse functions is unsatisfactory and must change. Numerous studies have shown the positive effects on the nurse of a healthy work environment and the positive relationships between nursing care and patient outcomes. It is important that government officials, insurance companies, and administrators and leaders of health care systems acknowledge and operationalize the value of nurses to the health care system in order to establish and maintain the integrity and viability of that system.

  12. Financial Decision Making Support System

    OpenAIRE

    Lobanova, E. N.; Zmitrovich, A. I.; Voshevoz, A. A.; Krivko-Krasko, A. V.

    2010-01-01

    In this article we consider concepts and components of the Financial Decision Making System that is being developed in the Institute of Business and Management Technology, BSU. Such system can be successfully used either for training experts in financial analytics and financial management or for financial managers and financial directors in an enterprise for the effective financial decision making.

  13. Global Financial Governance: a Perspective from the International Monetary Fund

    Directory of Open Access Journals (Sweden)

    Ryszard Wilczyński

    2011-03-01

    Full Text Available An environment for the activities of the International Monetary Fund (the IMF has fundamentally changed over the two recent decades. The strong development of financial innovations as well as of financial globalisation was among major forces driving the change and shaping the economic growth worldwide. As some economies were able - with the support from financial markets – to accelerate their growth, other countries suffered from turbulences, which were reinforced and transferred internationally through the volatile financial markets. The process of international financial contagion makes the case for global financial governance, which so far has been left behind the development of markets. The IMF is mandated to play a central role in the global governance designed to ensure financial stability. The article reconsiders the Fund’s role and includes an overview and assessment of its activities, particularly in the context of the global financial crisis in 2007-2010. In the aftermath of this crisis, the international financial stability may, however, again be at risk as several external imbalances in the global economy may be hardly sustainable. It is argued in the paper that, in addition to a gradually improving surveillance and lending as well as to adjusting resources by the Fund, an enhanced credibility of the institution is needed so that its role in the process of the stabilising global financial system is strong and effective.

  14. MARKETING STRATEGY OF RUP «BMZ» IN THE PERIOD OF WORLD FINANCIAL-ECONOMIC CRISIS

    Directory of Open Access Journals (Sweden)

    V. V. Zaitsev

    2010-01-01

    Full Text Available The marketing strategy of RUP «BMZ» in the period of worldwide financial-economic crisis is disclosed. It is shown that it is aimed at the maximum increase of export in all directions.

  15. The Usefulness of Financial Statements in Making Financial Diagnosis

    OpenAIRE

    Mitica Pepi

    2016-01-01

    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 depend...

  16. Climate Change Impacts on Worldwide Coffee Production

    Science.gov (United States)

    Foreman, T.; Rising, J. A.

    2015-12-01

    Coffee (Coffea arabica and Coffea canephora) plays a vital role in many countries' economies, providing necessary income to 25 million members of tropical countries, and supporting a $81 billion industry, making it one of the most valuable commodities in the world. At the same time, coffee is at the center of many issues of sustainability. It is vulnerable to climate change, with disease outbreaks becoming more common and suitable regions beginning to shift. We develop a statistical production model for coffee which incorporates temperature, precipitation, frost, and humidity effects using a new database of worldwide coffee production. We then use this model to project coffee yields and production into the future based on a variety of climate forecasts. This model can then be used together with a market model to forecast the locations of future coffee production as well as future prices, supply, and demand.

  17. Worldwide trends in diabetes since 1980

    DEFF Research Database (Denmark)

    Bjerregaard, Peter; Andersen, Lars Bo; Bugge, Anna

    2016-01-01

    prevalence-defined as fasting plasma glucose of 7.0 mmol/L or higher, or history of diagnosis with diabetes, or use of insulin or oral hypoglycaemic drugs-in 200 countries and territories in 21 regions, by sex and from 1980 to 2014. We also calculated the posterior probability of meeting the global diabetes......BACKGROUND: One of the global targets for non-communicable diseases is to halt, by 2025, the rise in the age-standardised adult prevalence of diabetes at its 2010 levels. We aimed to estimate worldwide trends in diabetes, how likely it is for countries to achieve the global target, and how changes...... in prevalence, together with population growth and ageing, are affecting the number of adults with diabetes. METHODS: We pooled data from population-based studies that had collected data on diabetes through measurement of its biomarkers. We used a Bayesian hierarchical model to estimate trends in diabetes...

  18. CMS Centres Worldwide a New Collaborative Infrastructure

    CERN Document Server

    Taylor, Lucas

    2009-01-01

    The CMS Experiment at the LHC is establishing a global network of inter-connected "CMS Centres" for controls, operations and monitoring. These support: (1) CMS data quality monitoring, detector calibrations, and analysis; and (2) computing operations for the processing, storage and distribution of CMS data. We describe the infrastructure, computing, software, and communications systems required to create an effective and affordable CMS Centre. We present our highly successful operations experiences with the major CMS Centres at CERN, Fermilab, and DESY during the LHC first beam data-taking and cosmic ray commissioning work. The status of the various centres already operating or under construction in Asia, Europe, Russia, South America, and the USA is also described. We emphasise the collaborative communications aspects. For example, virtual co-location of experts in CMS Centres Worldwide is achieved using high-quality permanently-running "telepresence" video links. Generic Web-based tools have been developed ...

  19. Cell therapy worldwide: an incipient revolution.

    Science.gov (United States)

    Rao, Mahendra; Mason, Chris; Solomon, Susan

    2015-01-01

    The regenerative medicine field is large, diverse and active worldwide. A variety of different organizational and product models have been successful, and pioneering entrepreneurs have shown both what can work and, critically, what does not. Evolving regulations, novel funding mechanisms combined with new technological breakthroughs are keeping the field in a state of flux. The field struggles to cope with the lack of infrastructure and investment, it nevertheless has evolved from its roots in human stem cell therapy and tissue and organ transplants to a field composed of a variety of products from multiple cell sources with approval for use in numerous countries. Currently, tens of thousands of patients have been treated with some kind of cell therapy.

  20. World-Wide Web the information universe

    CERN Document Server

    Berners-Lee, Tim; Groff, Jean-Francois; Pollermann, Bernd

    1992-01-01

    Purpose - The World-Wide Web (W-3) initiative is a practical project designed to bring a global information universe into existence using available technology. This paper seeks to describe the aims, data model, and protocols needed to implement the "web" and to compare them with various contemporary systems. Design/methodology/approach - Since Vannevar Bush's article, men have dreamed of extending their intellect by making their collective knowledge available to each individual by using machines. Computers provide us two practical techniques for human-knowledge interface. One is hypertext, in which links between pieces of text (or other media) mimic human association of ideas. The other is text retrieval, which allows associations to be deduced from the content of text. The W-3 ideal world allows both operations and provides access from any browsing platform. Findings - Various server gateways to other information systems have been produced, and the total amount of information available on the web is...

  1. Worldwide Survey of Nutritional Practices in PICUs.

    Science.gov (United States)

    Kerklaan, Dorian; Fivez, Tom; Mehta, Nilesh M; Mesotten, Dieter; van Rosmalen, Joost; Hulst, Jessie M; Van den Berghe, Greet; Joosten, Koen F M; Verbruggen, Sascha C A T

    2016-01-01

    To assess current nutritional practices in critically ill children worldwide. A two-part online, international survey. The first part, "the survey", was composed of 59 questions regarding nutritional strategies and protocols (July-November 2013). The second part surveyed the "point prevalence" of nutritional data of patients present in a subgroup of the responding PICUs (May-September 2014). Members of the World Federation of Pediatric Intensive and Critical Care Societies were asked to complete the survey. Pediatric critical care providers. Survey. We analyzed 189 responses from 156 PICUs in 52 countries (survey). We received nutritional data on 295 patients from 41 of these 156 responding PICUs in 27 countries (point prevalence). According to the "survey", nutritional protocols and support teams were available in 52% and 57% of the PICUs, respectively. Various equations were in use to estimate energy requirements; only in 14% of PICUs, indirect calorimetry was used. Nutritional targets for macronutrients, corrected for age/weight, varied widely. Enteral nutrition would be started early (within 24 hr of admission) in 60% of PICUs, preferably by the gastric route (88%). In patients intolerant to enteral nutrition, parenteral nutrition would be started within 48 hours in 55% of PICUs. Overall, in 72% of PICUs supplemental parenteral nutrition would be used if enteral nutrition failed to meet at least 50% of energy delivery goal. Several differences between the intended (survey) and the actual (point prevalence) nutritional practices were found in the responding PICUs, predominantly overestimating the ability to adequately feed patients. Nutritional practices vary widely between PICUs worldwide. There are significant differences in macronutrient goals, estimating energy requirements, timing of nutrient delivery, and threshold for supplemental parenteral nutrition. Uniform consensus-based nutrition practices, preferably guided by evidence, are desirable in the PICU.

  2. Why is this financial crisis occurring? How to respond to it?

    OpenAIRE

    Daianu, Daniel; Lungu, Laurian

    2008-01-01

    A combination of cyclical and structural factors has lead to a situation which could threaten financial stability worldwide. As the current financial turmoil is unfolding it becomes clearer that the effects of the initial sub-prime crisis, which originated in the US, are spreading across other asset markets worldwide, increasing the likelihood of a global credit crunch and an economic downturn. In the light of these developments there is a need for the implementation of strategies for action....

  3. WATER REALITY IN UKRAINE AND WORLDWIDE

    Directory of Open Access Journals (Sweden)

    L. F. Dolina

    2017-10-01

    Full Text Available Purpose. The paper analyzes the state of water management in Ukraine and worldwide, as well as the best practices in this area. Methodology. The study was carried out based on the analysis of literature sources and reporting data on the state of water management in Ukraine, European countries, the USA (2010-2016. Findings. The water state analysis in the regions of Ukraine showed that the quality in most cases is close to or meets the requirements for drinking water. Drinking tap water requires post-treatment in all regions of the country. The main issue for today is the production of the necessary equipment for treatment plants. Unfortunately, not all equipment is produced in Ukraine. The condition of rural water pipelines is of particular concern. Among the tested pipelines 7.3% do not comply with the rules and regulations. At the same time, only 25% of villages in Ukraine are provided with centralized water supply. Originality. The authors presented the results of a comprehensive review of the world's issues on disinfection of drinking and waste water, where various methods are used, partly in combination with each other in Ukraine and the worldwide. The main unresolved issue today is the issue of the residual quantity of drugs in the drinking water. The main environmental threat of the world scale is the presence of medicines in drinking water. The treatment facilities are not suitable for the decomposition or trapping of medicinal products. Nowhere in the world there is protection from these substances. One of the key issues in the solution of drinking water production is seawater desalination. To reduce the cost of desalination of sea water the SWRO-membrane technology is used. Practical value. Water problems are number one problems all over the world and in Ukraine as well. It is necessary to provide for additional financing to solve problems in the preparation and purification of waters, not with whatever funds remain, taking into

  4. Financial Sector Assessment : Morocco

    OpenAIRE

    World Bank

    2003-01-01

    This Financial Sector Assessment (FSA) provides a summary of the policy priorities, and main findings intended to assist the Moroccan authorities in evaluating the country's financial system. It reviews the uneasy trade-off between concerns for stability, and development, suggesting Morocco's macroeconomic policies and practices as a whole tend to err more on the side of the concerns of pr...

  5. PRICING FINANCIAL PRODUCTS

    OpenAIRE

    Tom Valentine

    1998-01-01

    Deregulation of the financial system, and the significant heightening of competition that it produced, has directed attention to the way in which financial institutions price their products and services. Also, the loan losses of the nineties increased interest in the problems of pricing for risk.

  6. Radical Financial Innovation

    OpenAIRE

    Robert J. Shiller

    2004-01-01

    Radical financial innovation is the development of new institutions and methods that permit risk management to be extended far beyond its former realm, covering important new classes of risks. This paper compares past such innovation with potential future innovation, looking at the process that produced past success and the possibilities for future financial innovation.

  7. Optimal Fragile Financial Networks

    NARCIS (Netherlands)

    Castiglionesi, F.; Navarro, N.

    2007-01-01

    We study a financial network characterized by the presence of depositors, banks and their shareholders. Belonging to a financial network is beneficial for both the depositors and banks' shareholders since the return to investment increases with the number of banks connected. However, the network is

  8. Financial Inclusion in Malaysia

    OpenAIRE

    World Bank Group

    2017-01-01

    Malaysia has achieved one of the highest levels of financial inclusion among Southeast Asia countries, due in part to policies taking advantage of mobile phones and banking agents to expand access. The report looks at specific actions, programs, and strategies that have contributed to enhance financial inclusion in the country and highlights key learnings to benefit low- and middle-income ...

  9. Household financial behavior

    NARCIS (Netherlands)

    Brounen, Dirk; Koedijk, Kees; Pownall, Rachel

    2016-01-01

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

  10. Making sense of financialization

    NARCIS (Netherlands)

    van der Zwan, N.

    2014-01-01

    Since the early 2000s, scholars from a variety of disciplines have used the concept of financialization to describe a host of structural changes in the advanced political economies. Studies of financialization interrogate how an increasingly autonomous realm of global finance has altered the

  11. Financial Services Marketing.

    Science.gov (United States)

    Olson, Lucretia Maria

    This manual contains student assignments in the financial services area of the marketing process. The individualized competency-based materials are intended to enhance and supplement instruction or to provide the basis for a course of instruction by the teacher-coordinator. Information on skills needed in jobs in financial marketing is first…

  12. Consolidating Financial Statements.

    Science.gov (United States)

    Wood, Marcia R.

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

  13. Consumer Financial Protection Bureau

    Science.gov (United States)

    ... complaint Can’t fix a problem with a financial product or service? Submit a complaint. We’ll work to get ... NOV 13, 2017 Blog Thanking veterans for their service and supporting their financial well-being NOV 09, 2017 Press Release Agencies ...

  14. The financialization of art

    NARCIS (Netherlands)

    Velthuis, O.; Coslor, E.; Knorr Cetina, K.; Preda, A.

    2012-01-01

    This article examines the processes through which, since the 1970s, the art market has become more and more a niche market for financial investment, accepted as legitimate by mainstream finance and by economists. It shows that the financialization of art has been an evolving process, and is not yet

  15. Worldwide Engagement for Sustainable Energy Strategies

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2013-08-01

    Almost 40 years after the Agency’s founding, the IEA responsibility for ensuring access to global oil supplies is still a core mandate. Yet over the course of its history, the IEA’s responsibilities have expanded along with both the international energy economy and conceptions of energy security itself. Our mission to promote secure and sustainable energy provision spans the energy mix. At the same time, a changing global energy map means that the industrialised nations of the world no longer dominate energy consumption. The IEA must work in close co-operation with partner countries and organisations worldwide to achieve its three core objectives: energy security, economic prosperity, and environmental sustainability. Working toward international commitments to reduce greenhouse gas emissions that cause global climate change; facilitating energy technology exchange, innovation and deployment; improving modern energy access to the billions of people who are without it; bolstering both cleanliness and security through energy efficiency; and promoting flexible and functioning energy markets – these efforts complement our traditional core responsibilities of mitigating the effects of supply disruptions and improving statistical transparency.

  16. Worldwide phylogenetic relationship of avian poxviruses

    Science.gov (United States)

    Gyuranecz, Miklós; Foster, Jeffrey T.; Dán, Ádám; Ip, Hon S.; Egstad, Kristina F.; Parker, Patricia G.; Higashiguchi, Jenni M.; Skinner, Michael A.; Höfle, Ursula; Kreizinger, Zsuzsa; Dorrestein, Gerry M.; Solt, Szabolcs; Sós, Endre; Kim, Young Jun; Uhart, Marcela; Pereda, Ariel; González-Hein, Gisela; Hidalgo, Hector; Blanco, Juan-Manuel; Erdélyi, Károly

    2013-01-01

    Poxvirus infections have been found in 230 species of wild and domestic birds worldwide in both terrestrial and marine environments. This ubiquity raises the question of how infection has been transmitted and globally dispersed. We present a comprehensive global phylogeny of 111 novel poxvirus isolates in addition to all available sequences from GenBank. Phylogenetic analysis of Avipoxvirus genus has traditionally relied on one gene region (4b core protein). In this study we have expanded the analyses to include a second locus (DNA polymerase gene), allowing for a more robust phylogenetic framework, finer genetic resolution within specific groups and the detection of potential recombination. Our phylogenetic results reveal several major features of avipoxvirus evolution and ecology and propose an updated avipoxvirus taxonomy, including three novel subclades. The characterization of poxviruses from 57 species of birds in this study extends the current knowledge of their host range and provides the first evidence of the phylogenetic effect of genetic recombination of avipoxviruses. The repeated occurrence of avian family or order-specific grouping within certain clades (e.g. starling poxvirus, falcon poxvirus, raptor poxvirus, etc.) indicates a marked role of host adaptation, while the sharing of poxvirus species within prey-predator systems emphasizes the capacity for cross-species infection and limited host adaptation. Our study provides a broad and comprehensive phylogenetic analysis of the Avipoxvirus genus, an ecologically and environmentally important viral group, to formulate a genome sequencing strategy that will clarify avipoxvirus taxonomy.

  17. Comparing alcohol affordability in 65 cities worldwide.

    Science.gov (United States)

    Kan, Ming-Yue; Lau, Maggie

    2013-01-01

    To develop a measure of alcohol affordability (AA) and compare the AA of 65 cities worldwide. In this paper, AA is defined as the proportion of median daily income needed to buy a certain quantity of certain alcoholic beverages. The income data and the price of alcoholic beverages were drawn from the Union Bank of Switzerland survey and the Economist Intelligence Unit respectively. A large majority of cities (87.7%, n = 57) had a high level of AA. The top 20 ranking was occupied by European and American cities with Tokyo in the Western Pacific region being the exception. All cities belonging to high-income countries had high levels of AA. However, two cities with low-level AA came from low-middle-income countries instead of low-income countries. The findings have shown that alcohol consumption is highly affordable in many cities. If price policy is being considered as policy instrument of alcohol control, it is in urgent need of price adjustments. More specifically, the new emerging economies play a significant role in the world alcohol control movement because of their bright economic performance with huge population size. Further studies on AA, especially periodical monitoring and its impacts on alcohol consumption and alcohol related health problems, should be conducted so as to facilitate the formulation and evaluation price measure of alcohol control. © 2012 Australasian Professional Society on Alcohol and other Drugs.

  18. Worldwide trends in diabetes since 1980

    DEFF Research Database (Denmark)

    Bjerregaard, Peter; Andersen, Lars Bo; Bugge, Anna

    2016-01-01

    5.0% (2.9-7.9) to 7.9% (6.4-9.7) in women. The number of adults with diabetes in the world increased from 108 million in 1980 to 422 million in 2014 (28.5% due to the rise in prevalence, 39.7% due to population growth and ageing, and 31.8% due to interaction of these two factors). Age...... in prevalence, together with population growth and ageing, are affecting the number of adults with diabetes. METHODS: We pooled data from population-based studies that had collected data on diabetes through measurement of its biomarkers. We used a Bayesian hierarchical model to estimate trends in diabetes...... with population growth and ageing, this rise has led to a near quadrupling of the number of adults with diabetes worldwide. The burden of diabetes, both in terms of prevalence and number of adults affected, has increased faster in low-income and middle-income countries than in high-income countries. FUNDING...

  19. A Worldwide Glacier Information System to go

    Science.gov (United States)

    Mölg, N.; Steinmann, M.; Zemp, M.

    2016-12-01

    In the forefront of the Paris Climate Conference COP21 in December 2015, the WGMS and UNESCO jointly launched a glacier application for mobile devices. This new information system aims at bringing scientifically sound facts and figures on worldwide glacier changes to decision makers at governmental and intergovernmental levels as well as reaching out to the interested public. The wgms Glacier App provides a map interface based on satellite images that display all the observed glaciers in the user's proximity. Basic information is provided for each glacier, including photographs and general information on size and elevation. Graphs with observation data illustrate the glacier's development, along with information on latest principal investigators and their sponsoring agencies as well as detailed explanations of the measurement types. A text search allows the user to filter the glacier by name, country, region, measurement type and the current "health" status, i.e. if the glacier has gained or lost ice over the past decade. A compass shows the closest observed glaciers in all directions from the user's current position. Finally, the card game allows the user to compete against the computer on the best monitored glaciers in the world. Our poster provides a visual entrance point to the wgms Glacier App and, hence, provides access to fluctuation series of more than 3'700 glaciers around the world.

  20. The Worldwide Hospice Palliative Care Alliance.

    Science.gov (United States)

    Connor, Stephen R; Gwyther, Elizabeth

    2018-02-01

    The Worldwide Hospice Palliative Care Alliance (WHPCA) is an international non-governmental organization registered as a charity in England and Wales that was established in 2008 following a series of international gatherings that highlighted the important need for palliative care to be included in global policy and health planning. The vision of the WHPCA is a world with universal access to hospice and palliative care. Its mission is to foster, promote and influence the delivery of affordable, quality palliative care. This article describes the evolution of the WHPCA and what it has been able to accomplish in the eight years since its formation. These accomplishments include effective advocacy with United Nations bodies, acceptance as a non-governmental organization in official relations with the World Health Organization and the UN Economic and Social Council, publication of many position papers on critical aspects of palliative care, publication of the Global Atlas of Palliative Care at the End of Life, development of toolkits for palliative care development, publication of the international edition of ehospice, and management of World Hospice and Palliative Care Day each year. Some of the many challenges to the growth and development of palliative care globally are described along with future plans. Copyright © 2017 American Academy of Hospice and Palliative Medicine. Published by Elsevier Inc. All rights reserved.

  1. CMS centres worldwide: A new collaborative infrastructure

    Energy Technology Data Exchange (ETDEWEB)

    Taylor, Lucas; /Northeastern U.; Gottschalk, Erik; /Fermilab

    2010-01-01

    The CMS Experiment at the LHC is establishing a global network of inter-connected 'CMS Centres' for controls, operations and monitoring. These support: (1) CMS data quality monitoring, detector calibrations, and analysis; and (2) computing operations for the processing, storage and distribution of CMS data. We describe the infrastructure, computing, software, and communications systems required to create an effective and affordable CMS Centre. We present our highly successful operations experiences with the major CMS Centres at CERN, Fermilab, and DESY during the LHC first beam data-taking and cosmic ray commissioning work. The status of the various centres already operating or under construction in Asia, Europe, Russia, South America, and the USA is also described. We emphasise the collaborative communications aspects. For example, virtual co-location of experts in CMS Centres Worldwide is achieved using high-quality permanently-running 'telepresence' video links. Generic Web-based tools have been developed and deployed for monitoring, control, display management and outreach.

  2. Bitcoin – the World-Wide Currency

    Directory of Open Access Journals (Sweden)

    Shuba Olena А.

    2017-11-01

    Full Text Available The article is aimed at researching bitcoin, the digital currency. It has been found that Bitcoin is a cryptocurrency, that is, the virtual money, which has no material equivalent. The history of creation and development of cryptocurrency was reviewed. There is a reduction in volatility, which guarantees the security of currency, as well as the increase in currency volume and the inability to estimate the profitability of bitcoins. The dynamics of the value of digital currency in US dollars over recent years has been analyzed. Improvement of attitude of many countries to the considered cryptocurrency, in particular the USA, Germany, Spain, Canada, Australia, Israel and Scandinavian countries has been identified. The reasons of Ukraine’s interest in Bitcoin have been considered. Possibilities of creation of cryptocurrency on the territory of Ukraine have been analyzed, i.e. cost of electricity for mining, the legal status of mining firms, and the attitude of the National Bank of Ukraine to the digital currency. It has been concluded that the recognition of Bitcoin by the world countries in the future will allow it to be granted the status of world-wide currency.

  3. Reference worldwide model for antineutrinos from reactors

    Science.gov (United States)

    Baldoncini, Marica; Callegari, Ivan; Fiorentini, Giovanni; Mantovani, Fabio; Ricci, Barbara; Strati, Virginia; Xhixha, Gerti

    2015-03-01

    Antineutrinos produced at nuclear reactors constitute a severe source of background for the detection of geoneutrinos, which bring to the Earth's surface information about natural radioactivity in the whole planet. In this framework, we provide a reference worldwide model for antineutrinos from reactors, in view of reactors operational records yearly published by the International Atomic Energy Agency. We evaluate the expected signal from commercial reactors for ongoing (KamLAND and Borexino), planned (SNO +), and proposed (Juno, RENO-50, LENA, and Hanohano) experimental sites. Uncertainties related to reactor antineutrino production, propagation, and detection processes are estimated using a Monte Carlo-based approach, which provides an overall site-dependent uncertainty on the signal in the geoneutrino energy window on the order of 3%. We also implement the off-equilibrium correction to the reference reactor spectra associated with the long-lived isotopes, and we estimate a 2.4% increase of the unoscillated event rate in the geoneutrino energy window due to the storage of spent nuclear fuels in the cooling pools. We predict that the research reactors contribute to less than 0.2% to the commercial reactor signal in the investigated 14 sites. We perform a multitemporal analysis of the expected reactor signal over a time lapse of ten years using reactor operational records collected in a comprehensive database published at www.fe.infn.it/antineutrino.

  4. Evolution of Toilets Worldwide through the Millennia

    Directory of Open Access Journals (Sweden)

    Georgios P. Antoniou

    2016-08-01

    Full Text Available Throughout history, various civilizations developed methodologies for the collection and disposal of human waste. The methodologies throughout the centuries have been characterized by technological peaks on the one hand, and by the disappearance of the technologies and their reappearance on the other. The purpose of this article is to trace the development of sewage collection and transport with an emphasis on toilets in ancient civilizations. Evolution of the major achievements in the scientific fields of sanitation with emphasis on the lavatory (or toilets technologies through the centuries up to the present are presented. Valuable insights into ancient wastewater technologies and management with their apparent characteristics of durability, adaptability to the environment, and sustainability are provided. Gradual steps improved the engineering results until the establishment of the contemporary toilet system, which provides a combined solution for flushing, odor control, and the sanitation of sewerage. Even though the lack of proper toilet facilities for a great percentage of the present day global population is an embarrassing fact, the worldwide efforts through millennia for the acquisition of a well-engineered toilet were connected to the cultural level of each period.

  5. Equity Markets’ Clustering and the Global Financial Crisis

    NARCIS (Netherlands)

    Leon Rincon, C.E.; Kim, Geun-Young; Martínez, Constanza; Lee, Daeyup

    2016-01-01

    The effect of the Global Financial Crisis (GFC) has been substantial across markets and countries worldwide. We examine how the GFC has changed the way equity markets group together based on the similarity of stock indices’ daily returns. Our examination is based on agglomerative clustering methods,

  6. THE GLOBAL FINANCIAL CRISIS AND NATIONAL FINANCIAL ...

    African Journals Online (AJOL)

    Abstract. This paper focuses on global financial crisis and its implications on the economy of nations. The questions asked to which answers were given among others include: Is the globalization of finance profitable against the backdrop of the failure of banking institutions in the United States of. America that has ...

  7. Evaluating the financial performance of agri-food firms: a multicriteria decision-aid approach

    NARCIS (Netherlands)

    Kalogeras, N.; Baourakis, G.; Zopounidis, C.; Dijk, van G.

    2005-01-01

    Food economists and financial researchers have long been preoccupied by the issue of evaluating the performance of agri-food firms. As the financial restructuring of the agri-business sector during the past two decades or so reflects sweeping changes that have occurred worldwide, questions have

  8. Financial globalisation uncertainty/instability is good for financial development

    OpenAIRE

    Asongu, Simplice A.; Koomson, Isaac; Tchamyou, Vanessa S.

    2015-01-01

    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...

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

    OpenAIRE

    Adam Steen; David MacKenzie

    2013-01-01

    Poor financial literacy may lead to poor life choices. These life choices can create or contribute to financial stress with adverse consequences - not the least of which may be homelessness. These issues are relatively well understood, but there is limited research on the link between financial stress, financial literacy and counselling, and homelessness. Specifically, there has been little research on how improved financial literacy and appropriate financial counselling might hel...

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

    OpenAIRE

    OZKOK, Zeynep

    2010-01-01

    This paper examines the link between financial openness and financial development through panel data analysis on advanced and emerging market countries. Using indices, financial openness together with institutional and educational variables explains a large part of the variation in financial development across countries and over time. Our analysis demonstrates that different indexing strategies serve in finding better measures for financial openness and financial development in comparison to ...

  11. Why Financial Advice Cannot Substitute for Financial Literacy?

    OpenAIRE

    M. Debbich

    2015-01-01

    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 ...

  12. Worldwide trend of atmospheric mercury since 1995

    Directory of Open Access Journals (Sweden)

    F. Slemr

    2011-05-01

    Full Text Available Concern about the adverse effects of mercury on human health and ecosystems has led to tightening emission controls since the mid 1980s. But the resulting mercury emissions reductions in many parts of the world are believed to be offset or even surpassed by the increasing emissions in rapidly industrializing countries. Consequently, concentrations of atmospheric mercury are expected to remain roughly constant. Here we show that the worldwide atmospheric mercury concentrations have decreased by about 20 to 38 % since 1996 as indicated by long-term monitoring at stations in the Southern and Northern Hemispheres combined with intermittent measurements of latitudinal distribution over the Atlantic Ocean. The total reduction of the atmospheric mercury burden of this magnitude within 14 years is unusually large among most atmospheric trace gases and is at odds with the current mercury emission inventories with nearly constant anthropogenic emissions over this period. This suggests a major shift in the biogeochemical cycle of mercury including oceans and soil reservoirs. Decreasing reemissions from the legacy of historical mercury emissions are the most likely explanation for this decline since the hypothesis of an accelerated oxidation rate of elemental mercury in the atmosphere is not supported by the observed trends of other trace gases. Acidification of oceans, climate change, excess nutrient input and pollution may also contribute by their impact on the biogeochemistry of ocean and soils. Consequently, models of the atmospheric mercury cycle have to include soil and ocean mercury pools and their dynamics to be able to make projections of future trends.

  13. Worldwide Differences in Regulations of Clozapine Use.

    Science.gov (United States)

    Nielsen, Jimmi; Young, Corina; Ifteni, Petru; Kishimoto, Taishiro; Xiang, Yu-Tao; Schulte, Peter F J; Correll, Christoph U; Taylor, David

    2016-02-01

    Clozapine remains the drug of choice for treatment-resistant schizophrenia. As a consequence of its long history and complex pharmacology, we suspected wide variation in the regulations of clozapine use across different countries. The summaries of product characteristics (SPCs) from clozapine manufacturers, as well as local and national guidelines in the following selected countries, were reviewed: China, Denmark, Ireland, Japan, The Netherlands, New Zealand, Romania, the UK and the US. Clozapine is available as tablets in all countries, as an oral suspension in all included countries, with the exception of Japan and Romania, as orally disintegrating tablets in the US and China, and as an injectable in The Netherlands. General practitioner prescribing is only available in The Netherlands, New Zealand, the UK and the US, although with some restrictions in some of the countries. In Ireland and China, clozapine is only dispensed through hospital pharmacies. Hematological monitoring is mandatory in all countries but varies substantially in frequency, e.g. in Denmark hematologic monitoring is mandatory weekly for 18 weeks, followed by monthly monitoring, compared with Japan where blood work is required weekly for 26 weeks, followed by biweekly hematologic monitoring thereafter. In most included countries, with the exception of Denmark, Romania and The Netherlands, the manufacturer provides a mandatory hematological monitoring database, and dispensing of clozapine is not permissible without acceptable white blood count and absolute neutrophil count results. Local guidelines in New Zealand recommend echocardiography and routine troponin during the initial phases of treatment with clozapine. Regulations of clozapine vary widely with regard to rules of prescribing and monitoring. A worldwide update and harmonization of these regulations is recommended.

  14. Conservation Kickstart- Catalyzing Conservation Initiatives Worldwide

    Science.gov (United States)

    Treinish, G.

    2014-12-01

    Adventurers and Scientists for Conservation (ASC) is a nonprofit organization that collects environmental data to catalyze conservation initiatives worldwide. Adventure athletes have the skills and motivation to reach the most remote corners of the world. ASC utilizes those skills to provide the scientific community with data while providing the outdoor community with purpose beyond the personal high of reaching a summit or rowing across an ocean. We carefully select projects, choosing partnerships that will maximize the impact of ASC volunteers. Each project must have a clear path to a tangible conservation outcome and demonstrate a clear need for our brand of volunteers. We partner with government agencies, universities, and independant reseachers to kickstart data collection efforts around the world. Last year, through a partnership with the Olympic National Forest, 20 volunteers from the Seattle area set up and monitored camera traps in an effort to survey for costal Pacific marten. Our work led to the species' listing as "critically imperiled" with NatureServe. A partnership with the inaugural Great Pacific Race, engaging trans-Pacific rowing teams, searched for microplastics in the Pacific Ocean as part of our ongoing microplastics campaign. In a multi-year partnership with the American Prairie Reserve (APR), ASC volunteer crews live and work on the Reserve collecting wildlife data year round. The data we obtain directly informs the Reserve's wildlife management decisions. On this project, our crews have safely and effectively navigated temperature extremes from -30 degrees to 100+ degrees while traveling in a remote location. We are currently scouting projects in the Okavango Delta of Botswana and the rainforest of Suriname where we will be able to cover large amounts of area in a short periord of time. ASC is at the crossroads of the adventure and coservation science communities. Our approach of answering specific questions by using highly skilled and

  15. USE OF MALE METHODS OF CONTRACEPTION WORLDWIDE.

    Science.gov (United States)

    Ross, John; Hardee, Karen

    2017-09-01

    This article analyses male contraceptive use, both globally and for developing countries. Shares of all contraceptive use due to males are examined, in the context of female use and all use. Patterns according to wealth quintiles are analysed, as well as time trends and geographic variations. Data are drawn primarily from compilations by the UN Population Division and from the Demographic and Health Series and subjected to relatively simple statistical methods including correlation/regression applications. Contraceptive methods that men use directly, or that require their co-operation to use, including condoms, withdrawal, rhythm and male sterilization, account for one-quarter of all contraceptive use worldwide. This represents 13% of married/in-union women. Both the share and the prevalence of male methods vary widely by geography and by the four methods, as well as by quintile wealth groups. With greater wealth there is an unbroken rise for total use; among the male methods, the shares of condom use and rhythm rise by wealth quintiles, while the share of withdrawal drops. The share for male sterilization is highest in the lowest and highest wealth quintiles and dips for the middle quintiles. The overall time trend since the 1980s has been steady at one-quarter of all use involving men; moreover, the share is about the same at all levels of total use. The female-only methods continue to dominate: female sterilization, IUD, pill, injectable and implant, again with great diversity geographically. In surveys men report less total use but more condom use, while females report more injectable use. For the future the male share of one-quarter of use seems secure, with little prospect of an increase unless concerted programmatic efforts are made to expand access to male methods and promote their use as part of a broadened contraceptive method mix.

  16. The instruments of financial planning

    OpenAIRE

    Durnov, V.

    2011-01-01

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

  17. Framing financial culture

    DEFF Research Database (Denmark)

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

    2014-01-01

    between competing frames leads to the conclusion that this political “blame game” is related to struggles over how to define the scandal, how to conceptualize its causes, and policy recommendations. Banks may have lost the battle of “Liborgate,” but the war over the meaning of financial culture is far...... from over. Originality/value – The paper is theoretically and methodologically original in its combination of the theories of framing and stasis, and it provides analytical insights into how sense is made of financial culture in the wake of the financial crisis....

  18. Preventing Financial Crime

    DEFF Research Database (Denmark)

    Boll, Karen

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

  19. FINANCIAL PERFORMANCES MEASUREMENT TOOLS

    National Research Council Canada - National Science Library

    BÎRCĂ ALIONA

    2016-01-01

    ... of objectives in line with the strategic policies of the entity. Measuring the financial performance without considering the strategic, tactical and operational objectives does not provide a real situation...

  20. Morocco - Financial Services

    Data.gov (United States)

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

  1. Financial Services Industry

    National Research Council Canada - National Science Library

    Arezo, Gullab; Billingslea, Willie D; Brooks, James V; Brown, Jeffery D; Cotton, Cheryl; Determan, Deborah A; Dzurenko, Monte S; Egentowich, John; Greenwald, Michael N; Keegan, Matthew

    2006-01-01

    .... The financial services industry impacts the daily lives of all Americans. They rely on it to save for their retirement and their children's education, pay their bills, insure against risks, and buy their homes and automobiles...

  2. Financial Analysts’ Forecasts

    DEFF Research Database (Denmark)

    Stæhr, Simone

    This thesis is broadly concentrated on decision making under uncertainty. It seeks to investigate how agents in financial markets make decisions at the individual level and how these decisions can sometimes be affected by personal traits and cognitive biases rather than being perfectly rational....... The primary focus is on financial analysts in the task of conducting earnings forecasts while a secondary focus is on investors’ abilities to interpret and make use of these forecasts. Simply put, financial analysts can be seen as information intermediators receiving inputs to their analyses from firm...... 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...

  3. Basic Financial Accounting

    DEFF Research Database (Denmark)

    Wiborg, Karsten

    This textbook on Basic Financial Accounting is targeted students in the economics studies at universities and business colleges having an introductory subject in the external dimension of the company's economic reporting, including bookkeeping, etc. The book includes the following subjects...

  4. THE FINANCIAL REPORTING PARADIGM

    National Research Council Canada - National Science Library

    F R (Rhys) Robinson

    2015-01-01

    .... This is particularly the case when an organisation grows in size and complexity, and you are still required to use spreadsheets for the main function of consolidation and reporting of financial results...

  5. FINANCIAL CRISES AND TURKEY

    Directory of Open Access Journals (Sweden)

    MERT URAL

    2013-06-01

    Full Text Available Since the last three decades, in developed and developing counties the liberalization and openness efforts have been witnessed. However, financial liberalization attempts (both internal and external without having macroeconomic stability lead to financial crises in many developing countries. Macroeconomic instabilities create fragile financial markets paving the way for future economic crises. The Turkish Economy, completed the liberalization process with foreign trade liberalization in 1980 and by removing controls on capital accounts in 1989. However, since 1990’s economy got into ‘growth-instability-crisis’ vicious circle, because of the fluctuations in the financial structure. By employing a factor analysis (principal components analysis, this work, aims to obtain the factors that effect crises in Turkey.

  6. Financial Performance Analysis Of Financial Service Cooperative

    Directory of Open Access Journals (Sweden)

    Eyo Asro Sasmita

    2015-08-01

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

  7. Financial Resources of NGOs

    Directory of Open Access Journals (Sweden)

    Nicoleta Ciucescu

    2012-12-01

    Full Text Available Due to the low funding levels registered in recent years in the NGO sector in Romania, many NGOs have faced a number of difficulties, some of them have ceased to carry on business. Financial position of the governmental sector is poor, especially for large organizations that are strictly dependent on foreign funds. For the good functioning of NGOs activity, it is requiring a constant concern for finacial fundraising. The article aims to present the diversity of financial resources of NGOs.

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

    Science.gov (United States)

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

    2013-01-01

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

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

    Directory of Open Access Journals (Sweden)

    Yu. Kovalenko

    2015-06-01

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

  10. The Accounting Network: how financial institutions react to systemic crisis

    CERN Document Server

    Flori, Andrea; Puliga, Michelangelo; Chessa, Alessandro; Pammolli, Fabio

    2016-01-01

    The role of Network Theory in the study of the financial crisis has been widely spotted in the latest years. It has been shown how the network topology and the dynamics running on top of it can trigger the outbreak of large systemic crisis. Following this methodological perspective we introduce here the Accounting Network, i.e. the network we can extract through vector similarities techniques from companies' financial statements. We build the Accounting Network on a large database of worldwide banks in the period 2001-2013, covering the onset of the global financial crisis of mid-2007. After a careful data cleaning, we apply a quality check in the construction of the network, introducing a parameter (the Quality Ratio) capable of trading off the size of the sample (coverage) and the representativeness of the financial statements (accuracy). We compute several basic network statistics and check, with the Louvain community detection algorithm, for emerging communities of banks. Remarkably enough sensible region...

  11. Financial Reporting: Framework for Analyzing Federal Agency Financial Statements

    Science.gov (United States)

    1991-03-01

    measure a firm’s profitability. The nature of financial ratios and their advantages are explained by Baruch Lev , in Financial Statement Analysis: A New...in Baruch Lev , Financial Statement Analysis: A New Approach (Englewood Cliffs, N.J.: Prentice-Hall, Inc., 1974), pp. 3637. 2See Financial Statement...Evaluation of Solvency. New York: American Institute of Certified Public Accountants, 1978. Lev , Baruch . Financial Statement Analysis: A New Approach

  12. Financial Literacy and the Demand for Financial Advice

    OpenAIRE

    Riccardo Calcagno; Chiara Monticone

    2011-01-01

    The low level of financial literacy in many countries suggests that households are at risk of sub-optimal financial decisions. In this paper we assess to what extent financial advisors can substitute for such a lack of knowledge, by analyzing the effect of investors’ financial literacy on their decision about how much to rely on financial advisors. We model the strategic interaction between poorly informed investors and perfectly informed advisors facing conflicts of interest. We find that mo...

  13. Financial integration and financial development in transition economies: What happens during financial crises?

    Directory of Open Access Journals (Sweden)

    Igor Masten

    2011-12-01

    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.

  14. Financial Globalization and Market Volatility

    OpenAIRE

    Cordella, Tito; Ospino Rojas, Anderson

    2017-01-01

    This paper computes a new financial globalization index for a large sample of countries for 1992-2016. Unlike other measures, the financial globalization index corrects for the heteroscedasticity of global volatility. This leads to a downward adjustment of financial globalization trends for developed, emerging, and frontier markets. The paper also shows that financial globalization reduces...

  15. PUBLIC FINANCIAL AIDS - STATE FINANCIAL SUPPORT POLICY

    Directory of Open Access Journals (Sweden)

    POPEANGĂ VASILE

    2012-12-01

    Full Text Available State aid represents selective measures of public financial support granted for activities or areas to achieve general objectives, such as environmental protection, development of SMEs, development of disadvantaged areas, rescue and restructuring strategic businesses, etc. But, even if the public authorities support economic development, the state aids can distort normal competitive environment. It is therefore necessary to develop and implement precisely rules on how the public authorities can intervene on market by providing state aids. State aid may be compatible if it pursues clearly defined objectives of common interest with the general beneficial effects on economic development, and does not affect the trade between European Union Member States.

  16. Teaching about tobacco in medical schools: a worldwide study.

    Science.gov (United States)

    Richmond, Robyn; Zwar, Nicholas; Taylor, Rachel; Hunnisett, Joanne; Hyslop, Fran

    2009-09-01

    %). Most popular method of teaching was by lectures (78%), case study discussions and problem-based learning exercises (51%), class readings 46%, in the clinical setting with real patients (45%), special projects and assignments (45%) and patient-centred teaching approaches, such as role plays (31%). Significantly, more barriers to teaching were identified by less developed countries (>60%) including: lack of available teaching time in the medical program, limited organisational ability to include new subjects, lack of staff resources to teach, lack of current plans to introduce a tobacco curriculum, lack of a key person to champion and organise teaching, lack of financial resources and lack of incentives or advantages to teach. A majority described solutions to these problems. A case study of education on tobacco throughout the medical curriculum is presented. We found an encouraging increase in the extent of teaching on tobacco in medical schools over 10 years. We report that although progress has been made to address the teaching of tobacco in medical schools worldwide, there is a great deal more effort required so that education on tobacco is an ongoing part of medical curricula. The teaching content is generally based on evidence-based smoking cessation guidelines

  17. Governance and Australian Financial Institutions

    OpenAIRE

    Kevin Davis

    1998-01-01

    This paper examines issues of corporate governance arising from the activities of financial institutions and markets. It is argued that governance problems are particularly severe in financial institutions vis-a-vis firms in other industries, and particularly important for society given the central role of financial institutions and markets in the financing and corporate governance activities of the economy. Processes of financial reform and financial system design have, it is argued, general...

  18. Late Financial Distress Process Stages and Financial Ratios

    DEFF Research Database (Denmark)

    Sormunen, Nina; Laitinen, Teija

    2012-01-01

    according to the date of application for reorganization: the first group of businesses applied for reorganization between 1 and 182 days after the closing of accounts, and the second group between 183 and 365 days after that point. The study findings provide evidence that the financial distress process......The present study adds to our understanding and knowledge of financial distress predictions regarding the usefulness of financial ratios in the late stages of the financial distress process. The study contributes to previous research by generating information concerning: (1) the behavior...... and usefulness of single financial ratios in short-term financial distress prediction when the effect of each different financial distress process stage is considered; (2) the effects of recognition of the financial distress process stage on the financial distress prediction model. The time horizon...

  19. Domesticizing Financial Economies

    DEFF Research Database (Denmark)

    Deville, Joe; Lazarus, Jeanne; Luzzi, Mariana

    Millions of lives in almost every corner of the world are increasingly being shaped by consumer-oriented financial services and products. Whether it is the middle classes or those at the bottom of the social and economic pyramid, both their social opportunities and sources of social exclusion...... are affected by their everyday participation in finance. From geographers describing the intimacies of contemporary financial ecologies, to sociological studies comparing personalized and quantified credit assessments, to detailed work within science and technology studies on how monetary devices shape...... conditions of calculative possibility, to the ethnographic assessments of domestic financial and budgetary practices carried out by cultural anthropologists: there is no doubt that recent years have witnessed a proliferation of research that documents the significance of domestic money and debt management...

  20. ISSUERS OF FINANCIAL INSTRUMENTS

    Directory of Open Access Journals (Sweden)

    Cristian GHEORGHE

    2016-05-01

    Full Text Available The rules laid down by Romanian Capital Market Law and the regulations put in force for its implementation apply to issuers of financial instruments admitted to trading on the regulated market established in Romania. But the issuers remain companies incorporated under Company Law of 1990. Such dual regulations need increased attention in order to observe the legal status of the issuers/companies and financial instruments/shares. Romanian legislator has chosen to implement in Capital Market Law special rules regarding the administration of the issuers of financial instruments, not only rules regarding admitting and maintaining to a regulated market. Thus issuers are, in Romanian Law perspective, special company that should comply special rule regarding board of administration and general shareholders meeting.

  1. Analysis of financial opportunities

    Directory of Open Access Journals (Sweden)

    Dessislava Kostova – Pickett

    2018-02-01

    Full Text Available We will start with an analysis structure that defines the key areas in which long-term funding sources will be analyzed and attracted. We will then look at the techniques for calculating the impact on the company's financial performance caused by the introduction of new capital from each of the major sources. We will turn to the often used form of graphing, EBIT (break before interest and tax break-even chart to demonstrate the dynamic impact of financial choices, which changes the company's situation. Once we touch the leases as a special source, we will list the key issues involved in the stock options.

  2. Fighting the Financial Crisis

    DEFF Research Database (Denmark)

    Hull Kristensen, Peer

    2015-01-01

    to the exclusion of other perspectives; the first was an emphasis on the problems of the financial sector, of interest rates and state finances; the second was that Danish productivity increases were falling behind other comparable countries and part of the solution required new strategies towards labour...... within the EU institutions as well as among the international financial institutions such as the IMF and the World Bank, that a period of austerity and fiscal consolidation was the required remedy, even though this was likely to be pro-cyclical in its effects. However, the paper shows that alternative...

  3. Regulating household financial advice

    Directory of Open Access Journals (Sweden)

    Benjamin F. Cummings

    2012-08-01

    Full Text Available This paper reviews economic theory related to investment advice. This theory explains 1 why financial advisors need to be carefully regulated for the benefit of both the investment advice industry and for consumers, 2 why principles-based regulation (e.g., a fiduciary standard is more efficient than rules-based regulation, 3 why dual regulation of financial professionals providing investment or insurance advice is inefficient and inequitable policy, and 4 why the application of a universal and uniform fiduciary standard will be difficult to implement.

  4. Global Impressions: Inside UNESCO's First Worldwide Arts Education Conference

    Science.gov (United States)

    Booth, Eric

    2006-01-01

    The many worlds of arts education began to grow into one worldwide community in March 2006. Twelve hundred arts education leaders, in delegations from 97 countries, attended the United Nation's Education, Scientific and Cultural Organization's (UNESCO's) first-ever worldwide arts education conference, held for four days in Lisbon, Portugal. The…

  5. Financial Giffen Goods

    DEFF Research Database (Denmark)

    Poulsen, Rolf; Rasmussen, Kourosh Marjani

    2008-01-01

    In the basic Markowitz and Merton models, a stock’s weight in efficient portfolios goes up if its expected rate of return goes up. Put differently, there are no financial Giffen goods. By an example from mortgage choice we illustrate that for more complicated portfolio problems Giffen effects do...

  6. The case for financialization

    NARCIS (Netherlands)

    Engelen, E.

    2008-01-01

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

  7. New Financial Models.

    Science.gov (United States)

    Taylor, Michael G.

    1991-01-01

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

  8. Consumer financial behavior

    NARCIS (Netherlands)

    van Raaij, W.F.

    2014-01-01

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

  9. Building Financial Satisfaction

    Science.gov (United States)

    Vera-Toscano, Esperanza; Ateca-Amestoy, Victoria; Serrano-Del-Rosal, Rafael

    2006-01-01

    This paper aims to contribute further research on the conceptualization of individual financial satisfaction as a particular domain of satisfaction with life as a whole. Based on the 2003 "Survey on Living Conditions and Poverty" for Andalucia (Spain) and using a self-reported measure of welfare, ordered probit models are used to analyze…

  10. Weathering the financial storm

    DEFF Research Database (Denmark)

    Ólafsson, Tjörvi; Pétursson, Thórarinn G.

    2011-01-01

    The recent global financial tsunami has had economic consequences that have not been witnessed since the Great Depression. But while some countries suffered a particularly large contraction in economic activity on top of a system-wide banking collapse, others came off relatively lightly...

  11. Medical students' financial dilemma

    African Journals Online (AJOL)

    1991-05-18

    May 18, 1991 ... The financial position of 5th- and 6th-year medical students at the University of Cape Town was analysed. The median annual expenditure for a 6th-year student in private accom- modation is R13790. The trend in applicants to medical school has changed, with proportionally more now coming.

  12. Consolidated financial statements

    OpenAIRE

    Kalvasová, Veronika

    2010-01-01

    This work provides basic information about consolidation and consolidated financial statements. In the beginning there are definisions of the members of the group under discussion and their relationship. Hereafter concepts of consolidation, accounting methods and methods of consolidation are discussed. It also compares approach of different accounting systems to consolidation.

  13. International Financial Reporting Standards

    DEFF Research Database (Denmark)

    Pontoppidan, Caroline Aggestam

    2011-01-01

    The advance of International Financial Reporting Standards (IFRS) across the globe has accelerated over the last few years. This is placing increasing demands on educators to respond to these changes by an increased focus on IFRS in the curricula of accounting students. This paper reviews a range...

  14. APPLICATION OF FINANCIAL ETHICS IN ANNUAL FINANCIAL REPORTING OF BANKS

    Directory of Open Access Journals (Sweden)

    Ayuba A. Aminu

    2016-03-01

    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.

  15. Financial inclusion, financial regulation, and education in Bangladesh

    OpenAIRE

    Khalily, M.A. Baqui

    2016-01-01

    Like in many other countries, inclusive finance for inclusive growth has become a policy issue in Bangladesh following the global financial crisis in 2008. Over the past 10 years, intensity of financial deepening and access to financial services has increased. Both banks and microfinance institutions have contributed to higher intensity. A recent study shows that around 40% of the adult population and 75% of households have access to financial services in Bangladesh. Several factors may have ...

  16. Role of financial monitoring to ensure financial security of Ukraine

    OpenAIRE

    Maksym Vasiuk

    2015-01-01

    The role of financial monitoring in Ukraine is defined in the article. It is suggested how to manage operation of the system of state financial monitoring as a component of Ukrainian financial security. The stages of financial monitoring development in Ukraine are systematized. The algorithm of main processes of interaction between banking institutions, state and judicial authorities regarding antimoney laundering, terrorist and spread of mass-destruction weapons financing.

  17. Financial Stress and Financial Counseling: Helping College Students

    Science.gov (United States)

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

    2015-01-01

    This study had two distinct purposes. First, to determine the predictors of financial stress among college students who sought free peer-based financial counseling from a large Midwestern university (N = 675). Secondly, to determine the effectiveness of the particular financial counseling center from a subsample of those who sought help (N = 97).…

  18. Financial Literacy and Financial Behaviour: Experimental Evidence from Rural Rwanda

    NARCIS (Netherlands)

    Sayinzoga, Aussi; Bulte, E.H.|info:eu-repo/dai/nl/141315245; 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

  19. Financial Inclusion and Financial Fragility: An Empirical Note

    OpenAIRE

    Ghosh, Saibal

    2008-01-01

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

  20. Financial Planners: Educating Widows in Personal Financial Planning

    Science.gov (United States)

    Korb, Brian R.

    2010-01-01

    Widows constitute a growing segment of the U.S. population; however, very little has been done to educate them on the basics of personal financial planning. The creation and implementation of financial planning education programs for widows can help them become more financially literate and free them from anxiety and fear. Interviews with eight…

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

    Directory of Open Access Journals (Sweden)

    TAK ISA

    2010-12-01

    Full Text Available Financial information has, indisputably, an important effect in economics. To form an effective capital market, financial information must be reliable and accurate. Misleading financial information always has a negative impact on economic decision taken by users. It is known that financial information as the cornerstone of financial markets, can improve economic performance in several ways. Nowadays we are facing economic crisis due to irregularities of presentation of financial statements to users. Misunderstandings cause economic recession. Detection of fraudulent financial information, is an important issue facing the auditing profession. Currently, bankruptcy of companies around the world, leaves millions of people without jobs, this is caused by financial information which is manipulated by companies. The purpose of this paper is to analyze the effects of errors and manipulation committed in the financial information sector on the real economy. Also one of the purposes of this paper is to analyze error and fraud in financial statements how it effects the real economy and the reasons for committing fraud in financial statements. Also, several suggestions are included in this study about actions that can be taken to prevent errors and manipulation in financial information.

  2. Financial Management: An Organic Approach

    Science.gov (United States)

    Laux, Judy

    2013-01-01

    Although textbooks present corporate finance using a topical approach, good financial management requires an organic approach that integrates the various assignments financial managers confront every day. Breaking the tasks into meaningful subcategories, the current article offers one approach.

  3. Corporate Information Management Financial Statements

    National Research Council Canada - National Science Library

    Gimble, Thomas

    1995-01-01

    The audit objective was to determine whether the OASD(C31) methods for preparing FY 1996 CIM, general purpose financial statements will result in auditable and complete general purpose financial statements...

  4. ICAF Financial Services Industry Study

    National Research Council Canada - National Science Library

    Allison, Douglas; Barry, Kevin; Beaver, Philip; Browne, Michael; Cubillos, Claudio; Hanger, Wallace; Kluchko, Luke; LaDue, Charles; McGhee, Michael; Mitsoff, Gregory

    2005-01-01

    .... The industry includes those firms that provide financial services to organizations or individuals, the government agencies that regulate the industry, and the markets that facilitate the exchange of financial assets...

  5. Radiology applications of financial accounting.

    Science.gov (United States)

    Leibenhaut, Mark H

    2005-03-01

    A basic knowledge of financial accounting can help radiologists analyze business opportunities and examine the potential impacts of new technology or predict the adverse consequences of new competitors entering their service area. The income statement, balance sheet, and cash flow statement are the three basic financial statements that document the current financial position of the radiology practice and allow managers to monitor the ongoing financial operations of the enterprise. Pro forma, or hypothetical, financial statements can be generated to predict the financial impact of specific business decisions or investments on the profitability of the practice. Sensitivity analysis, or what-if scenarios, can be performed to determine the potential impact of changing key revenue, investment, operating cost or financial assumptions. By viewing radiology as both a profession and a business, radiologists can optimize their use of scarce economic resources and maximize the return on their financial investments.

  6. Financial Literacy Education for Women

    Science.gov (United States)

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

    2014-01-01

    Exploring the pedagogical approaches of four women's financial literacy education programs, this chapter provides an overview of trends and needs in financial education for women and offers pedagogical strategies for teaching women about finance.

  7. Global financial crisis

    Directory of Open Access Journals (Sweden)

    MSc. Jusuf Qarkaxhija

    2011-03-01

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

  8. Are Remittances a 'Catalyst' for Financial Access? Evidence from Mexico

    OpenAIRE

    Ambrosius, Christian

    2011-01-01

    In policy discussions, it has frequently been claimed that migrants' remittances could function as a 'catalyst' for financial access among receiving households. This paper provides empirical evidence on this hypothesis from Mexico, a main receiver of remittances worldwide. Using the Mexican Family Life Survey panel (MxFLS) for 2002 and 2005, the results from the treatment-effect-model at household level show that a change in remittance status has an important impact on ownership of savings ac...

  9. IMPACT OF THE FINANCIAL CRISIS ON LIFE INSURANCE IN ROMANIA

    Directory of Open Access Journals (Sweden)

    ANA PREDA

    2011-01-01

    Full Text Available Whereas both worldwide and locally financial problems aggravate, it is hard to believe that people would search protection in life insurance policy, although in these times people’s need to be protected is much higher. Having in mind our possible future situation, when we might be in an economic impasse, the solution could be to contract a life insurance, which could basically provide protection, but on a long term, it might be a means of saving.

  10. The Geography of Financial Literacy

    Directory of Open Access Journals (Sweden)

    Christopher Bumcrot

    2013-07-01

    Full Text Available This paper explores how well equipped today’s households are to make complex financial decisions in the face of often high-cost and high-risk financial instruments. Specifically we focus on financial literacy. Most importantly, we describe the geography of financial literacy, i.e., how financial literacy is distributed across the fifty US states. We describe the correlation of financial literacy and some important aggregate variables, such as state-level poverty rates. Finally, we examine the extent to which differences in financial literacy can be explained by states’ demographic and economic characteristics. To assess financial literacy, five questions were added to the 2009 National Financial Capability Study, covering fundamental concepts of economics and finance encountered in everyday life: simple calculations about interest rates and inflation, the workings of risk diversification, the relationship between bond prices and interest rates, and the relationship between interest payments and maturity in mortgages. We constructed an index of financial literacy based on the number of correct answers provided by each respondent to the five financial literacy questions. The financial literacy index reveals wide variation in financial literacy across states. Much of the variation is attributable to differences in the demographic makeup of the states; however, a handful of states have either higher or lower levels of financial literacy than is explained by demographics alone. Also, there is a significant correlation between the financial literacy of a state and that state’s poverty level. The findings indicate directions for policy makers and practitioners interested in targeting areas where financial literacy is low.

  11. Market liquidity and financial stability.

    OpenAIRE

    Crockett, A.

    2008-01-01

    Stability in financial institutions and in financial markets are closely intertwined. Banks and other financial institutions need liquid markets through which to conduct risk management. And markets need the back-up liquidity lines provided by financial institutions. Market liquidity depends not only on objective, exogenous factors, but also on endogenous market dynamics. Central banks responsible for systemic stability need to consider how far their traditional responsibility for the health ...

  12. Malaysia; Financial Sector Stability Assessment

    OpenAIRE

    International Monetary Fund

    2013-01-01

    This assessment is a review of the financial environment of Malaysia. Like many other Asian countries, Malaysia experienced financial distress in the late 1990s, but the country’s policy reforms have moved it to a successful economy. A ten-year financial plan (2001–10) by Bank Negara Malaysia restructured the financial sector. Banks were well capitalized, household debts were strengthened, and securities and insurances were developed. Malaysia thus became the global center for Islamic finance...

  13. Financial Engineering: an Islamic Perspective

    OpenAIRE

    Suwailem, Sami Al

    2007-01-01

    Islamic financial industry is growing rapidly. Markets are increasingly appreciat-ing Islamic instruments, and more institutions are willing to provide Islamic services to their clients. However, development of Islamic financial products through appropriate processes of financial engineering has remained an important area of researches. Two issues are always faced by any Islamic financial products in one go, competitiveness and shariah compliance. Not only Islamically acceptable, but any Isla...

  14. Strategic Planning and Financial Management

    Science.gov (United States)

    Conneely, James F.

    2010-01-01

    Strong financial management is a strategy for strategic planning success in student affairs. It is crucial that student affairs professionals understand the necessity of linking their strategic planning with their financial management processes. An effective strategic planner needs strong financial management skills to implement the plan over…

  15. Financial globalization and crises: overview

    NARCIS (Netherlands)

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

    2013-01-01

    Financial globalization, the integration of countries with the global financial system, has increased substantially since the 1970s and particularly with more force since the 1990s. Financial globalization has shown to pose both benefits and risks to developed countries and developing countries

  16. Peculiarities of Individuals' Financial Behaviour

    OpenAIRE

    Jurevičienė, Daiva; Gausienė, Eglė

    2010-01-01

    The article deals with different interpretations of peculiarities of individuals' financial behaviour. The adaptability of Efficient Market Hypothesis (rational and irrational investors' behaviour and their influence on market efficiency) and Behavioural Finance (by separating into two building blocks: Cognitive Biases and Limits of Arbitrage) to individuals' financial behaviour interpretation is summarized and compared as well as basic theories defining individuals' financial behaviour: Abso...

  17. "Financial Bubbles" and Monetary Policy

    Science.gov (United States)

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

    2016-01-01

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

  18. INTERNATIONAL FINANCIAL REPORTING STANDARDS AND ...

    African Journals Online (AJOL)

    PUBLICATIONS1

    ABSTRACT. The study examines the impact of the adoption of International Financial Reporting Standards. (IFRS) on the quality of financial reporting in Nigeria. The study utilises a period based ap- proach to analyse changes in the degree of financial reporting quality (FRQ) that hinges on three proxies: Value Relevance, ...

  19. Trusts and Financialization

    DEFF Research Database (Denmark)

    Harrington, Brooke

    2017-01-01

    This article identifies trusts as a legal structure associated with the global spread of financialization. Although trusts originated in Medieval England, they have acquired a new significance in contemporary finance by virtue of their advantages in terms of 10 profit maximization and capital...... mobility. As a result, trusts have become common in contemporary structured finance for corporations, in addition to their traditional functions as estate planning and asset protection vehicles for high-net-worth individuals. This article specifies three ways in which the trust structure has facilitated...... the global spread of financialization: by privileging the rentier–investor within the 15 world economy; by perpetuating a distinctively Anglo-American approach to finance internationally; and by increasing the autonomy of finance vis-a-vis the nation-state. This study shares the primarily descriptive...

  20. 'Financial crisis in Malaysia'

    OpenAIRE

    石田, 三樹

    1999-01-01

    The purpose of this paper is to investigate factors underlying the buildup to the 'Financial crisis' in Malaysia. As earlier researchers pointed out, the direct cause of currency crisis is the exchange rate arrangement. After 1995, dollar-peg system raised the value of ringgit against Japanese yen, which deteriorated the country's competitiveness. In 1990's, favorable interest rates, better fundamentals and expected high value of ringgit attracted large volume of funds from overseas. Most...

  1. The US Financial Crisis

    DEFF Research Database (Denmark)

    Campbell, John L.

    2011-01-01

    for each other's shortcomings rather than reinforce each other's incentives. This paper uses evidence from the US financial crisis of 2008 to adjudicate this debate. It argues that different types of institutional complementarities are necessary in combination to ensure market stability and successful......Many comparative political economists hold that market performance depends on the presence of institutional complementarities. Some argue that when institutions reinforce similar incentives markets work best. Others disagree and argue that for markets to function well institutions must compensate...

  2. Communication impacting financial markets

    Science.gov (United States)

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

    2014-10-01

    Since the attribution of the Nobel prize in 2002 to Kahneman for prospect theory, behavioral finance has become an increasingly important subfield of finance. However the main parts of behavioral finance, prospect theory included, understand financial markets through individual investment behavior. Behavioral finance thereby ignores any interaction between participants. We introduce a socio-financial model (Vitting Andersen J. and Nowak A., An Introduction to Socio-Finance (Springer, Berlin) 2013) that studies the impact of communication on the pricing in financial markets. Considering the simplest possible case where each market participant has either a positive (bullish) or negative (bearish) sentiment with respect to the market, we model the evolution of the sentiment in the population due to communication in subgroups of different sizes. Nonlinear feedback effects between the market performance and changes in sentiments are taken into account by assuming that the market performance is dependent on changes in sentiments (e.g., a large sudden positive change in bullishness would lead to more buying). The market performance in turn has an impact on the sentiment through the transition probabilities to change an opinion in a group of a given size. The idea is that if for example the market has observed a recent downturn, it will be easier for even a bearish minority to convince a bullish majority to change opinion compared to the case where the meeting takes place in a bullish upturn of the market. Within the framework of our proposed model, financial markets stylized facts such as volatility clustering and extreme events may be perceived as arising due to abrupt sentiment changes via ongoing communication of the market participants. The model introduces a new volatility measure which is apt of capturing volatility clustering and from maximum-likelihood analysis we are able to apply the model to real data and give additional long term insight into where a market is

  3. Basic Financial Accounting

    DEFF Research Database (Denmark)

    Wiborg, Karsten

    This textbook on Basic Financial Accounting is targeted students in the economics studies at universities and business colleges having an introductory subject in the external dimension of the company's economic reporting, including bookkeeping, etc. The book includes the following subjects......: business entities, the transformation process, types of businesses, stakeholders, legislation, the annual report, the VAT system, double-entry bookkeeping, inventories, and year-end cast flow analysis....

  4. Estimates of worldwide burden of cancer in 2008: GLOBOCAN 2008

    National Research Council Canada - National Science Library

    Ferlay, Jacques; Shin, Hai-Rim; Bray, Freddie; Forman, David; Mathers, Colin; Parkin, Donald Maxwell

    2010-01-01

    Estimates of the worldwide incidence and mortality from 27 cancers in 2008 have been prepared for 182 countries as part of the GLOBOCAN series published by the International Agency for Research on Cancer...

  5. Worldwide research productivity on tramadol: a bibliometric analysis

    OpenAIRE

    Sweileh, Waleed M; Shraim, Naser Y.; Zyoud, Sa?ed H; Al-Jabi, Samah W.

    2016-01-01

    Background Pain management and safe use of analgesics is an important medical issue. Tramadol is an old analgesic with controversial properties. Evaluation of worldwide scientific output on tramadol has not been explored. Therefore, the main objective of this study was to give a bibliometric overview of global research productivity on tramadol. Methods SciVerse Scopus was used to retrieve and quantitatively and qualitatively analyze worldwide publications on tramadol. Results A total of 2059 ...

  6. Integrated Financial Management Program

    Science.gov (United States)

    Pho, Susan

    2004-01-01

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

  7. 76 FR 23859 - Financial Management Service Proposed Collection of Information; Financial Institution Agreement...

    Science.gov (United States)

    2011-04-28

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

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

    Directory of Open Access Journals (Sweden)

    Adam Steen

    2013-09-01

    Full Text Available Poor financial literacy may lead to poor life choices. These life choices can create or contribute to financial stress with adverse consequences - not the least of which may be homelessness. These issues are relatively well understood, but there is limited research on the link between financial stress, financial literacy and counselling, and homelessness. Specifically, there has been little research on how improved financial literacy and appropriate financial counselling might help to prevent homelessness. This paper synthesises existing literature on this topic and considers these issues using the ABCX family stress model of Hill (1958 using data from an Australian program aimed at alleviating family homelessness, the Home Advice Program. We provide evidence that suggests that case management and support which incorporates financial counselling and financial literacy can assist in moderating the impact of financial stress and help those at risk of homelessness. The findings have implications for public policy in the areas of financial education, consumer finance, and social services provision.

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

    Science.gov (United States)

    Dalsted, N L

    1995-07-01

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

  10. Reconfiguring the Financial Markets

    Directory of Open Access Journals (Sweden)

    Ion Bucur

    2009-12-01

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

  11. Offshore Financial Centres

    DEFF Research Database (Denmark)

    Wigan, Duncan

    2014-01-01

    of ‘tax havens’. The chapter argues in consequence that policy success relies on an admixture of unilateral innovation and mutually reinforcing policy instruments. In the context of the global financial crisis and acute concerns regarding fiscal capacity US intervention has had a catalytic effect. EU......This chapter assesses the role of the EU in the regulation of tax evasion and tax avoidance. This role has historically been constrained by institutional limits on EU policy in the area of direct taxation and a severe collective action problem extenuated by an EU membership which includes a number...

  12. Offshoring and financial markets

    Directory of Open Access Journals (Sweden)

    Gianfranco Battisti

    2014-06-01

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

  13. Eyjafjallajokull and 9/11: the impact of large-scale disasters on worldwide mobility.

    Directory of Open Access Journals (Sweden)

    Olivia Woolley-Meza

    Full Text Available Large-scale disasters that interfere with globalized socio-technical infrastructure, such as mobility and transportation networks, trigger high socio-economic costs. Although the origin of such events is often geographically confined, their impact reverberates through entire networks in ways that are poorly understood, difficult to assess, and even more difficult to predict. We investigate how the eruption of volcano Eyjafjallajökull, the September 11th terrorist attacks, and geographical disruptions in general interfere with worldwide mobility. To do this we track changes in effective distance in the worldwide air transportation network from the perspective of individual airports. We find that universal features exist across these events: airport susceptibilities to regional disruptions follow similar, strongly heterogeneous distributions that lack a scale. On the other hand, airports are more uniformly susceptible to attacks that target the most important hubs in the network, exhibiting a well-defined scale. The statistical behavior of susceptibility can be characterized by a single scaling exponent. Using scaling arguments that capture the interplay between individual airport characteristics and the structural properties of routes we can recover the exponent for all types of disruption. We find that the same mechanisms responsible for efficient passenger flow may also keep the system in a vulnerable state. Our approach can be applied to understand the impact of large, correlated disruptions in financial systems, ecosystems and other systems with a complex interaction structure between heterogeneous components.

  14. Financial Statements in Providing Financial Security of Agricultural Enterprises

    OpenAIRE

    Olha Vdovenko

    2014-01-01

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

  15. Financial Bubbles, Real Estate Bubbles, Derivative Bubbles, and the Financial and Economic Crisis

    Science.gov (United States)

    Sornette, Didier; Woodard, Ryan

    The financial crisis of 2008, which started with an initially well-defined epicenter focused on mortgage backed securities (MBS), has been cascading into a global economic recession, whose increasing severity and uncertain duration has led and is continuing to lead to massive losses and damage for billions of people. Heavy central bank interventions and government spending programs have been launched worldwide and especially in the USA and Europe, with the hope to unfreeze credit and bolster consumption. Here, we present evidence and articulate a general framework that allows one to diagnose the fundamental cause of the unfolding financial and economic crisis: the accumulation of several bubbles and their interplay and mutual reinforcement have led to an illusion of a "perpetual money machine" allowing financial institutions to extract wealth from an unsustainable artificial process. Taking stock of this diagnostic, we conclude that many of the interventions to address the so-called liquidity crisis and to encourage more consumption are ill-advised and even dangerous, given that precautionary reserves were not accumulated in the "good times" but that huge liabilities were. The most "interesting" present times constitute unique opportunities but also great challenges, for which we offer a few recommendations.

  16. EFFECTS OF INTERNATIONAL FINANCIAL REPORTING STANDARDS CONCERNING THE FINANCIAL CONTROL

    Directory of Open Access Journals (Sweden)

    Gheorghe MOROSAN

    2014-02-01

    Full Text Available The purpose of this paper is to present the "normalization accounting practices" specific anglo-saxon countries, it is devoid of normative reference systems being influenced by operational practice. Accounting rules that define economic evaluation procedures for recording and best practices resulting from active and fully recognized by professional accountants that are encoded by authoritative professional bodies, respecting the best financial and economic doctrines. Yet another object of the work is to show the effects of international standards of financial reporting on financial audit and financial control then the accountant.

  17. FINANCIAL DIAGNOSIS OF STOCKS

    Directory of Open Access Journals (Sweden)

    SUCIU GHEORGHE

    2014-12-01

    Full Text Available Financial diagnosis is a part of a company’s general diagnosis. The role of the financial diagnosis is to establish the situation of the company at a given time, to see if it is viable, to help the decision-makers to take the best measures to continue or cease the activity, or to sell, buy or liquidate the company. Each entity is unique and arbitrarily applying some analysis models used by other companies can lead to significant errors. One cannot analyze in the same way a company that produces household products and a trade company. In the first one, the working capital must be positive, because permanent capitals must finance the fixed assets which have a high value, and the working capital will finance the operating cycle. In case of a trade company, a negative working capital might represent a positive activity, because the duration of the operating cycle is much shorter, and short term sources can also finance the company’s tangible assets.

  18. Ergodicity of financial indices

    Science.gov (United States)

    Kolesnikov, A. V.; Rühl, T.

    2010-05-01

    We introduce the concept of the ensemble averaging for financial markets. We address the question of equality of ensemble and time averaging in their sequence and investigate if these averagings are equivalent for large amount of equity indices and branches. We start with the model of Gaussian-distributed returns, equal-weighted stocks in each index and absence of correlations within a single day and show that even this oversimplified model captures already the run of the corresponding index reasonably well due to its self-averaging properties. We introduce the concept of the instant cross-sectional volatility and discuss its relation to the ordinary time-resolved counterpart. The role of the cross-sectional volatility for the description of the corresponding index as well as the role of correlations between the single stocks and the role of non-Gaussianity of stock distributions is briefly discussed. Our model reveals quickly and efficiently some anomalies or bubbles in a particular financial market and gives an estimate of how large these effects can be and how quickly they disappear.

  19. Veblen, Bataille and Financial Innovation

    DEFF Research Database (Denmark)

    Gammon, Earl; Wigan, Duncan

    2015-01-01

    of financial innovation premised on pecuniary expedients and aspirations of market completion. As we argue, in a broader affective economy, contemporary financial innovation serves invidious ends, providing a means of attaining social distinction, constituting a medium for violent expenditure and bestowing...... access to sovereign expression on its purveyors. Highlighting the non-rational dimension of financial markets prompts a reconsideration of the nature of crisis and the means of its redress.......This article advances towards the reconceptualization of financial innovation. It examines the calamitous role of financial innovation in the global financial crisis, developing a non-rational theorization of finance within the social economy that factors in the role of affect. Outlining...

  20. Macroprudential policy and financial stability

    Directory of Open Access Journals (Sweden)

    Bogdan CHIRIACESCU

    2013-02-01

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

  1. A REVIEW OF FINANCIAL EDUCATION

    Directory of Open Access Journals (Sweden)

    Fatih Temizel

    2015-07-01

    Full Text Available This study determines the importance of financial education in contemporary societies. A review of various organizations for increasing financial education whose individual and societal importance has been internationally accepted is also offered. Towards this end initiatives undertaken by international organizations and national authorities are examined. Aspects of these initiatives that can be offered as best practices for developing nations are identified. For the Turkish case financial education examples that can be organized under public authority leadership, with NGO participation are collated. Various experiences about measuring and increasing financial literacy are examined. Among these are the implementations in Australia, Japan, England and the United States. It is put forth, in light of international experience, that increasing access to financial education and efficiency of financial services are possible through, informing, education and consulting.

  2. Understanding Trust in Financial Services

    DEFF Research Database (Denmark)

    Hansen, Torben

    2012-01-01

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

  3. Framework for Assessing Financial Literacy and Superannuation Investment Choice Decisions

    Directory of Open Access Journals (Sweden)

    Natalie Gallery

    2011-06-01

    Full Text Available There is a worldwide trend towards rapidly growing defined contribution pension funds in terms of assets andmembership, and the choices available to individuals. This has shifted the decisionmaking responsibility tofund members for managing the investment of their retirement savings. This change has given rise to aphenomenon where most superannuation fund members are responsible for either actively choosing orpassively relying on their funds’ default investment options. Prior research identifies that deficiencies infinancial literacy is one of the causes of inertia in financial decision-making and findings from internationaland Australian studies show that financial illiteracy is wide-spread. Given the potential significant economicand social consequences of poor financial decision-making in superannuation matters, this paper proposes aframework by which the various demographic, social and contextual factors that influence fund members’financial literacy and its association with investment choice decisions are explored. Enhanced theoretical andempirical understanding of the factors that are associated with active/passive investment choice decisionswould enable development of well-targeted financial education programs.

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

    Science.gov (United States)

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

    2012-01-01

    In this article we review the literature on financial literacy, financial education, and consumer financial outcomes. We consider how financial literacy is measured in the current literature, and examine how well the existing literature addresses whether financial education improves financial literacy or personal financial outcomes. We discuss the…

  5. Assessing marginal, threshold and net effects of financial globalisation on financial development in Africa

    OpenAIRE

    Asongu, Simplice

    2017-01-01

    The present inquiry contributes to extant literature by simultaneously accounting for variations in financial development and financial globalisation in the assessment of hypothetical initial financial development conditions for the rewards of financial globalisation. For this purpose, we examine marginal, threshold and net effects of financial globalisation on financial development throughout the conditional distributions of financial development. The empirical evidence is based on contempor...

  6. Financial globalisation and financial development in Africa: assessing marginal, threshold and net effects

    OpenAIRE

    Simplice Asongu; Lieven De Moor

    2015-01-01

    The present inquiry contributes to extant literature by simultaneously accounting for variations in financial development and financial globalisation in the assessment of hypothetical initial financial development conditions for the rewards of financial globalisation. The policy relevance for assessing these variations simultaneously builds on the intuition that, thresholds for financial development benefits of financial globalisation may also be contingent on initial levels of financial deve...

  7. Tax Evasion and Financial Repression

    OpenAIRE

    Rangan Gupta

    2005-01-01

    Using a simple overlapping generations framework, calibrated to four Southern European countries, we analyze the relationship between tax evasion, determined endogenously, and financial repression. We show that higher degree of tax evasion within a country, resulting from a higher level of corruption and a lower penalty rate, yields higher degrees of financial repression as a social optimum. However, a higher degree of tax evasion, due to a lower tax rate, reduces the severity of financial re...

  8. The return of financial repression.

    OpenAIRE

    Reinhart, C. M.

    2012-01-01

    Periods of high indebtedness have historically been associated with a rising incidence of default or restructuring of public and private debts. Sometimes the debt restructuring is more subtle and takes the form of 'financial repression'. Consistent negative real interest rates are equivalent to a tax on bond holders and, more generally, savers. In the heavily regulated financial markets of the Bretton Woods system, a variety of financial domestic and international restrictions facilitated a s...

  9. Singapore; Financial System Stability Assessment

    OpenAIRE

    International Monetary Fund

    2004-01-01

    This paper discusses key findings of the Financial System Stability Assessment on Singapore. The Singapore financial system is highly developed, and well regulated and supervised. Singapore’s current regulation and supervision are among the best globally. The Monetary Authority of Singapore (MAS) oversees the entire financial system, and has the analytical and operational capabilities to do so effectively. Singapore is exposed to a broad array of domestic and global risks, especially in light...

  10. Financial globalisation and economic sovereignty

    OpenAIRE

    Čaušević Fikret

    2004-01-01

    A number of very significant changes took place in the international financial system at the beginning of the 1970s, as a result of changes in the relations of economic power between the most developed countries in the world. A number of new financial instruments appeared in response to the new conditions on the international currency and financial markets, with far-reaching implications for the efficiency of national economic policy, in particular on the three main segments - monetary, fisca...

  11. Financial accounting for radiology executives.

    Science.gov (United States)

    Seidmann, Abraham; Mehta, Tushar

    2005-03-01

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

  12. Functional High Performance Financial IT

    DEFF Research Database (Denmark)

    Berthold, Jost; Filinski, Andrzej; Henglein, Fritz

    2011-01-01

    auditability of financial institutions, including their software systems. To top it off, increased product variety and customisation necessitates shorter software development cycles and higher development productivity. In this paper, we report about HIPERFIT, a recently etablished strategic research center...... at the University of Copenhagen that attacks this triple challenge of increased performance, transparency and productivity in the financial sector by a novel integration of financial mathematics, domain-specific language technology, parallel functional programming, and emerging massively parallel hardware. HIPERFIT...

  13. Balancing Responsibilities – Financial Literacy

    Directory of Open Access Journals (Sweden)

    Gail Pearson

    2017-03-01

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

  14. Genesis of enterprise financial security

    Directory of Open Access Journals (Sweden)

    Davydenko N. M.

    2015-05-01

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

  15. Benin - Access to Financial Services

    Data.gov (United States)

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

  16. The Accounting Network: How Financial Institutions React to Systemic Crisis.

    Science.gov (United States)

    Puliga, Michelangelo; Flori, Andrea; Pappalardo, Giuseppe; Chessa, Alessandro; Pammolli, Fabio

    2016-01-01

    The role of Network Theory in the study of the financial crisis has been widely spotted in the latest years. It has been shown how the network topology and the dynamics running on top of it can trigger the outbreak of large systemic crisis. Following this methodological perspective we introduce here the Accounting Network, i.e. the network we can extract through vector similarities techniques from companies' financial statements. We build the Accounting Network on a large database of worldwide banks in the period 2001-2013, covering the onset of the global financial crisis of mid-2007. After a careful data cleaning, we apply a quality check in the construction of the network, introducing a parameter (the Quality Ratio) capable of trading off the size of the sample (coverage) and the representativeness of the financial statements (accuracy). We compute several basic network statistics and check, with the Louvain community detection algorithm, for emerging communities of banks. Remarkably enough sensible regional aggregations show up with the Japanese and the US clusters dominating the community structure, although the presence of a geographically mixed community points to a gradual convergence of banks into similar supranational practices. Finally, a Principal Component Analysis procedure reveals the main economic components that influence communities' heterogeneity. Even using the most basic vector similarity hypotheses on the composition of the financial statements, the signature of the financial crisis clearly arises across the years around 2008. We finally discuss how the Accounting Networks can be improved to reflect the best practices in the financial statement analysis.

  17. The Accounting Network: How Financial Institutions React to Systemic Crisis.

    Directory of Open Access Journals (Sweden)

    Michelangelo Puliga

    Full Text Available The role of Network Theory in the study of the financial crisis has been widely spotted in the latest years. It has been shown how the network topology and the dynamics running on top of it can trigger the outbreak of large systemic crisis. Following this methodological perspective we introduce here the Accounting Network, i.e. the network we can extract through vector similarities techniques from companies' financial statements. We build the Accounting Network on a large database of worldwide banks in the period 2001-2013, covering the onset of the global financial crisis of mid-2007. After a careful data cleaning, we apply a quality check in the construction of the network, introducing a parameter (the Quality Ratio capable of trading off the size of the sample (coverage and the representativeness of the financial statements (accuracy. We compute several basic network statistics and check, with the Louvain community detection algorithm, for emerging communities of banks. Remarkably enough sensible regional aggregations show up with the Japanese and the US clusters dominating the community structure, although the presence of a geographically mixed community points to a gradual convergence of banks into similar supranational practices. Finally, a Principal Component Analysis procedure reveals the main economic components that influence communities' heterogeneity. Even using the most basic vector similarity hypotheses on the composition of the financial statements, the signature of the financial crisis clearly arises across the years around 2008. We finally discuss how the Accounting Networks can be improved to reflect the best practices in the financial statement analysis.

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

    Directory of Open Access Journals (Sweden)

    Feng Wei

    2016-11-01

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

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

    Directory of Open Access Journals (Sweden)

    Renê Birochi

    2016-05-01

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

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

    African Journals Online (AJOL)

    The changing global business arena, with its abundance of financial and other information sources, has resulted in a need for information to be processed, understood and analysed by individuals who cannot necessarily make an authentic connection between the financial numbers and the real business world context.

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

    Science.gov (United States)

    Robinson, J. N.

    1992-01-01

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

  2. The Ethics of the Financial Crisis and Financial Reform

    NARCIS (Netherlands)

    I.P. van Staveren (Irene)

    2012-01-01

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

  3. Financial regulation and financial system architecture in Central Europe

    NARCIS (Netherlands)

    Scholtens, B

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

  4. Terrorism and financial supervision

    Directory of Open Access Journals (Sweden)

    Anatoli van der Krans

    2005-12-01

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

  5. First world-wide interlaboratory study on polybrominated diphenylethers (PBDEs)

    NARCIS (Netherlands)

    Boer, de J.; Cofino, W.P.

    2002-01-01

    The first world-wide interlaboratory study on PBDEs, organised between November 1999 and April 2000, involved five biological samples, two sediments and two standard solutions. These materials were sent to 26 participants in nine different countries. Results were returned from 18 laboratories. The

  6. Worldwide trends in blood pressure from 1975 to 2015

    NARCIS (Netherlands)

    Ezzati, Majid; Geleijnse, J.M.

    2017-01-01

    Background

    Raised blood pressure is an important risk factor for cardiovascular diseases and chronic kidney disease. We estimated worldwide trends in mean systolic and mean diastolic blood pressure, and the prevalence of, and number of people with, raised blood pressure, defined as systolic

  7. With the worldwide decline in conventional finfish stocks, fishers are ...

    African Journals Online (AJOL)

    With the worldwide decline in conventional finfish stocks, fishers are redirecting their attention to alter- native stocks, in particular invertebrates (Perry et al. 1999). Initiatives towards developing small-scale commercial fisheries, aimed at supporting previously disadvantaged fishers and targeting previously under- exploited ...

  8. Which are the "best" cities for psychology research worldwide?

    NARCIS (Netherlands)

    Bornmann, L.; Leydesdorff, L.; Krampen, G.

    2012-01-01

    We present scientometric results about worldwide centers of excellence in psychology. Based on Web of Science data, scientific excellence can be identified for cities from where highly-cited papers originate. Data refer to all psychology articles published in 2007 which are documented in the Social

  9. IETS statement on worldwide ET statistics for 2010

    DEFF Research Database (Denmark)

    Stroud, Brad; Callesen, Henrik

    2012-01-01

    of IVP embryos transferred worldwide in 2010 was 339,685, an 11% increase from 2009. Global equine ET activity also increased in 2010. The number of reported flushes (41,652) was up by 4,681 (+13%). The number of transfers (28,824) was also up (+4,354). Brazil and Argentina led the way in mares flushed...

  10. State-of-the-Art in Open Courseware Initiatives Worldwide

    Science.gov (United States)

    Vladoiu, Monica

    2011-01-01

    We survey here the state-of-the-art in open courseware initiatives worldwide. First, the MIT OpenCourseWare project is overviewed, as it has been the real starting point of the OCW movement. Usually, open courseware refers to a free and open digital publication of high quality university level educational materials that are organized as courses,…

  11. Fisheries management worldwide has been under the spotlight in ...

    African Journals Online (AJOL)

    denise

    Fisheries management worldwide has been under the spotlight in the past decade as startling evidence sug- gests that the global catch of wild marine fish has reached its ceiling and that almost 70% of individual fish stocks are fully to overexploited (Garcia and. Newton 1997). Clearly, the challenge to cater for sustainable ...

  12. Financial Integration or Disintegration during the Financial Crisis

    Directory of Open Access Journals (Sweden)

    Otilia-Roxana Oprea

    2017-09-01

    Full Text Available Both the causes and effects of the disintegration of the European Union, as well as the possible connections between the process of integration and disintegration were vaguely addressed in the specialized literature up to the present day. Often the crises were evaluated as catalysts for subsequent phases of the EU integration stages, without focusing on the possible impact disintegrator. The aim of this study is to show the impact of the financial crisis on the financial integration process, specifically to see if, during the crisis, financial integration had or not disintegrative tendencies. I chose this goal because the phenomenon of financial disintegration and the link between this phenomenon and the financial crisis have been treated so far in studies of literature, but more in news articles exposing the opinions of specialists. For our analysis, we retrieved data from the Eurostat for the period between 2000 and 2014, including the EU 28 member states.

  13. Financial Literacy and Financial Sophistication in the Older Population

    Science.gov (United States)

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

    2017-01-01

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

  14. Stakeholder relations and financial performance

    NARCIS (Netherlands)

    Scholtens, B.; Zhou, Y.

    2008-01-01

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

  15. Theories about the financial crises

    Directory of Open Access Journals (Sweden)

    Irina Busuioc-Witowschi

    2010-12-01

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

  16. Jordan Banks Financial Soundness Indicators

    Directory of Open Access Journals (Sweden)

    Imad Kutum

    2015-09-01

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

  17. Complexity theory and financial regulation

    NARCIS (Netherlands)

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

    2016-01-01

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

  18. Financial repression and fiscal policy

    NARCIS (Netherlands)

    Gupta, KL; Lensink, R

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

  19. Teaching OOP with Financial Literacy

    Science.gov (United States)

    Zhu, Hongwei

    2011-01-01

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

  20. Quick Reference for Financial Reporting

    International Development Research Centre (IDRC) Digital Library (Canada)

    Alexandra Eustache

    FINANCIAL WORKBOOK. Quick Reference – Financial Reporting. 1. Only use and work on the updated workbook provided to you by your IDRC representative. The file will be sent before each reporting period. 2. Always enable macros to open workbook and click yes on the security warning window to make the workbook a ...

  1. The financial crisis and its effects: Perspectives from economics and psychology

    NARCIS (Netherlands)

    Greenglass, E.; Antonides, G.; Christandl, F.; Foster, G.; Katter, J.K.Q.; Kaufman, B.E.; Lea, S.E.G.

    2014-01-01

    The recent financial crisis has affected most countries. With cutbacks in business, trade and government spending, millions world-wide have lost their jobs, with young people disproportinately affected. This paper synthesizes the thoughts expressed during an interdisciplinary discussion held in July

  2. Some considerations on the reform of the international monetary and financial system

    Directory of Open Access Journals (Sweden)

    E. GRILLI

    1999-06-01

    Full Text Available The paper discusses different views on the reform of the International Monetary System. It illustrates the most recent antecedents of the current debate, focusing on criteria, determinants and effects of the choice among different exchange regimes and discussing in particular the relationship between fixed exchange rates and financial crises, and the relationship between exchange rates and worldwide freedom of capital movements.

  3. From Finance Capitalism to Financialization

    DEFF Research Database (Denmark)

    Hansen, Per H.

    2014-01-01

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

  4. Macroeconomic aspects of financial liberalization

    Directory of Open Access Journals (Sweden)

    Mirdala Rajmund

    2006-01-01

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

  5. 75 FR 22680 - Financial Management Service; Proposed Collection of Information: Annual Financial Statement of...

    Science.gov (United States)

    2010-04-29

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

  6. 76 FR 66339 - Inaugural Roundtable of the Financial Reporting Series Entitled “Uncertainty in Financial...

    Science.gov (United States)

    2011-10-26

    ... COMMISSION Inaugural Roundtable of the Financial Reporting Series Entitled ``Uncertainty in Financial... publicly. SUPPLEMENTARY INFORMATION: This will be the inaugural roundtable of the Financial Reporting Series. The Financial Reporting Series was instituted by SEC staff to assist in the proactive...

  7. Facilities for radiotherapy with ion beams status and worldwide developments

    CERN Document Server

    Wolf, B H

    1999-01-01

    Forty-five years after the first ion beam therapy in Berkeley around 25,000 cancer patients worldwide have been treated successfully. Ion accelerators, designed for nuclear research, delivered most of this treatment. The first hospital-based facility started operation in 1998 at Loma Linda California, the first for heavier ions at Chiba, Japan in 1994 and the first commercially delivered facilities started operation in 1998 at Kashiwa, Japan. In 2000, the Harvard Medical Centre, Boston, US, will commence operation and several new facilities are planned or under construction worldwide, although none in Australia. This paper will discuss the physical and biological advantages of ion beams over x-rays and electrons. In the treatment of cancer patients ion beam therapy is especially suited for localised tumours in radiation sensitive areas like skull or spine. Heavier ions are also effective in anoxic tumour cells (found around the normally oxygenated cell population). An additional advantage of the heavier carbo...

  8. Financialization of commodities

    Directory of Open Access Journals (Sweden)

    Michał Falkowski

    2011-12-01

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

  9. Worldwide Sourcing Planning at Solutia's Glass Interlayer Products Division

    OpenAIRE

    2009-01-01

    Abstract The article describes the realization of an optimization project by a global chemical manufacturer with the objective to develop and implement a supply chain coordination tool. After a presentation of the current supply chain and the challenges faced by Solutia prior to the optimization project, we provide an overview on the mathematical model depicting the company's worldwide production network. We then provide insight into the lessons learned by both optimization team an...

  10. Histologic distribution of borderline ovarian tumors worldwide: a systematic review

    OpenAIRE

    Song, Taejong; Lee, Yoo-Young; Choi, Chel Hun; Kim, Tae-Joong; Lee, Jeong-Won; Bae, Duk-Soo; Kim, Byoung-Gie

    2013-01-01

    Objective The histologic types of borderline ovarian tumors (BOTs) exhibit striking differences in clinical behavior and prognosis. Yet, there is no information available on the histologic distribution of BOTs according to geographic region. The purpose of this study was to systematically review this issue worldwide. Methods A comprehensive search of the literature was conducted using electronic databases. Studies were eligible if BOTs were investigated and the histologic distribution of the ...

  11. Mental Health a Worry for Student Affairs Worldwide*

    African Journals Online (AJOL)

    Journal of Student Affairs in Africa | Volume 4(2) 2016, 65–66 | 2307-6267 | DOI: 10.18820/jsaa.v4i2.10 65 www.jsaa.ac.za ... “We are seeing increases in mental health challenges worldwide – more stress, more anxiety ... in the job market, and to cope with academics and adjustment to universities and colleges. –but the ...

  12. Geospatial collection development policies in academic libraries: a worldwide research

    OpenAIRE

    Vardakosta, Ifigeneia; Kapidakis, Sarantos

    2011-01-01

    The widespread applications of GIS have challenged librarians worldwide to provide geospatial collections and services to their users. Despite the fact that collection development policies in digital environment have derived from the policies set down in traditional environments of information, geospatial data address a wide array of issues (metadata, standards, reliability, co-operations, data management etc) that require special attention as well as an understanding of both cartographic and...

  13. Worldwide application of prevention science in adolescent health

    OpenAIRE

    Catalano, Richard F; Fagan, Abigail A; Gavin, Loretta E; Greenberg, Mark T; Irwin, Charles E; Ross, David A; Shek, Daniel T L

    2012-01-01

    The burden of morbidity and mortality from non-communicable disease has risen worldwide and is accelerating in low-income and middle-income countries, whereas the burden from infectious diseases has declined. Since this transition, the prevention of non-communicable disease as well as communicable disease causes of adolescent mortality has risen in importance. Problem behaviours that increase the short-term or long-term likelihood of morbidity and mortality, including alcohol, tobacco, and ot...

  14. World-Wide Outreach through International Observe the Moon Night

    Science.gov (United States)

    Buxner, S.; Jones, A. P.; Bleacher, L.; Shaner, A. J.; Day, B. H.; Wenger, M.; Joseph, E.; Canipe, M.

    2016-12-01

    International Observe the Moon Night (InOMN) is an annual worldwide public event that encourages observation, appreciation, and understanding of our Moon and its connection to NASA planetary science and exploration. Everyone on Earth is invited to join the celebration by hosting or attending an InOMN event - and uniting on one day each year to look at and learn about the Moon together. Events are hosted by a variety of institutions including astronomy clubs, observatories, schools, and universities, museums, planetaria, schools, universities, observatories, parks, private businesses and private homes. Events hosts are supported with event flyers, information sheets, Moon maps for observing, activities to use during events, presentations, certificates of participation, and evaluation materials to be used by hosts. 2016 is the seventh year of worldwide participation in InOMN which will be held on October 8th. In the last six years, over 3,000 events were registered worldwide from almost 100 different countries and almost all 50 states and the District of Columbia in the United States. Evaluation of InOMN is conducted by an external evaluation group and includes analysis of event registrations, facilitator surveys, and visitor surveys. Evaluation results demonstrate that InOMN events are successful in raising visitors' awareness of lunar science and exploration, providing audiences with information about lunar science and exploration, and inspiring visitors to want to learn more about the Moon. Additionally, preliminary analysis of social media has shown that there is a virtual network of individuals connecting about InOMN. A large fraction of events have been held by institutions for more than one year showing sustained interest in participation. During this presentation, we will present data for all seven years of InOMN including lessons learned through supporting and evaluating a worldwide event. InOMN is sponsored by NASA's Lunar Reconnaissance Orbiter, NASA

  15. Worldwide Scientific Production Indexed by Scopus on Labour Relations

    OpenAIRE

    Salmerón-Manzano, Esther (UNIR); Manzano-Agugliaro, Francisco

    2017-01-01

    This article examines the features of the worldwide contributions to the specialized literature in labour relations in the period 1970–2016. The source considered has been the Scopus Elsevier database, together with bibliometric analysis techniques. Different aspects of the publications are analysed, such as publication type, field, language, subcategory and journal type, as well as the keyword occurrence frequency. The results of this work show that the most popular keywords were Trade Union...

  16. Searching for the corner seismic moment in worldwide data

    Energy Technology Data Exchange (ETDEWEB)

    Felgueiras, Miguel; Santos, Rui; Martins, João Paulo [CEAUL Lisbon and ESTG, Polytechnic Institute of Leiria (Portugal)

    2015-12-31

    In this paper the existence of the corner frequency value for the seismic moment distribution is investigated, analysing worldwide data. Pareto based distributions, usually considered as the most suitable to this type of data, are fitted to the most recent data, available in a global earthquake catalog. Despite the undeniable finite nature of the seismic moment data, we conclude that no corner frequency can be established considering the available data set.

  17. Worldwide prevalence and risk factors for feline hyperthyroidism: A review

    Directory of Open Access Journals (Sweden)

    Joanne L. McLean

    2014-02-01

    Full Text Available Since first reported in the late 1970s, there has been a steady but dramatic increase in the worldwide prevalence of hyperthyroidism in cats. It is now regarded as the most common feline endocrine disorder, with diabetes mellitus coming a close second. Not only is there evidence for an increased worldwide prevalence of feline hyperthyroidism, but also for geographical variation in the prevalence of the disease. Despite its frequency, the underlying cause(s of this common disease is or are not known, and therefore prevention of the disease is not possible. Due to the multiple risk factors that have been described for feline hyperthyroidism, however, it is likely that more than one factor is involved in its pathogenesis. Continuous, lifelong exposure to environmental thyroid-disruptor chemicals or goitrogens in food or water, acting together or in an additive fashion, may lead to euthyroid goitre and ultimately to autonomous adenomatous hyperplasia, thyroid adenoma and hyperthyroidism. This review aims to summarise the available published evidence for the changes observed in the worldwide prevalence of the disease, as well as risk factors that may contribute to development of hyperthyroidism in susceptible cats.

  18. Correlation Between Human Development Index and Infant Mortality Rate Worldwide

    Directory of Open Access Journals (Sweden)

    Alijanzadeh

    2016-02-01

    Full Text Available Background Infant mortality rate (per 1000 live births is a vital index to monitor the standard of health and social inequality which is related to human development dimensions worldwide. Human development index (HDI includes basic social indicators such as life expectancy, education and income. Objectives The current study aimed to find the correlation between human development index and infant mortality rate. Patients and Methods This descriptive study that represents the relationship of infant mortality rate with human development index and human development index dimensions was performed on the profiles of 135 countries worldwide [Africa (35 countries, America (26 countries, Asia (30 countries, the Pacific (2 countries and Europe (42 countries]. Two databases were used in the study: the world health organization (WHO database (2010 and human development database (2010. Data were analyzed using Pearson correlation test by SPSS software. Results The study found that socio-economic factors or human development dimensions are significantly correlated with risk of chance mortality in the world. The per capita income (r = -0.625, life expectancy (r = -0.925 and education (r = -0.843 were negatively correlated with the infant mortality rate; human development index (r = -0.844 was also negatively correlated with the infant mortality rate (P < 0.01. Conclusions Human development index is one of the best indicators and predictors to perceive healthcare inequities. Worldwide improvement of these indicators, especially the education level, might promote infant life expectancy and decrease infant mortality.

  19. Worldwide prevalence and risk factors for feline hyperthyroidism: A review.

    Science.gov (United States)

    McLean, Joanne L; Lobetti, Remo G; Schoeman, Johan P

    2014-11-14

    Since first reported in the late 1970s, there has been a steady but dramatic increase in the worldwide prevalence of hyperthyroidism in cats. It is now regarded as the most common feline endocrine disorder, with diabetes mellitus coming a close second. Not only is there evidence for an increased worldwide prevalence of feline hyperthyroidism, but also for geographical variation in the prevalence of the disease. Despite its frequency, the underlying cause(s) of this common disease is or are not known, and therefore prevention of the disease is not possible. Due to the multiple risk factors that have been described for feline hyperthyroidism, however, it is likely that more than one factor is involved in its pathogenesis. Continuous, lifelong exposure to environmental thyroid-disruptor chemicals or goitrogens in food or water, acting together or in an additive fashion, may lead to euthyroid goitre and ultimately to autonomous adenomatous hyperplasia, thyroid adenoma and hyperthyroidism. This review aims to summarise the available published evidence for the changes observed in the worldwide prevalence of the disease, as well as risk factors that may contribute to development of hyperthyroidism in susceptible cats.

  20. International organizations to enable world-wide mobile satellite services

    Science.gov (United States)

    Anglin, Richard L., Jr.

    1993-01-01

    Numbers of systems exist or have been proposed to provide world-wide mobile satellite services (MSS). Developers of these systems have formulated institutional structures they consider most appropriate for profitable delivery of these services. MSS systems provide niche services and complement traditional telecommunications networks; they are not integrated into world-wide networks. To be successful, MSS system operators must be able to provide an integrated suite of services to support the increasing globalization, interconnectivity, and mobility of business. The critical issue to enabling 'universal roaming' is securing authority to provide MSS in all of the nations of the world. Such authority must be secured in the context of evolving trends in international telecommunications, and must specifically address issues of standardization, regulation and organization. Today, only one existing organization has such world-wide authority. The question is how proponents of new MSS systems and services can gain similar authority. Securing the appropriate authorizations requires that these new organizations reflect the objectives of the nations in which services are to be delivered.

  1. Financial Literacy, Retirement Planning and Household Wealth

    NARCIS (Netherlands)

    van Rooij, Maarten C. J.; Lusardi, Annamaria; Alessie, Rob J. M.

    Relying on comprehensive measures of financial knowledge, we provide evidence of a strong positive association between financial literacy and net worth, even after controlling for many determinants of wealth. We discuss two channels through which financial literacy might facilitate wealth

  2. Students win national financial planning contest

    OpenAIRE

    Sutphin, Michael D.

    2007-01-01

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

  3. Financial Accounting for the Defense Investigation Service

    National Research Council Canada - National Science Library

    1998-01-01

    The audit was performed in support of our audits of the FYs 1996 and 1997 DoD-wide financial statements required by the Chief Financial Officers Act of 1990, as amended by the Federal Financial Management Act of 1994...

  4. The 2000 DOD Financial Management Improvement Plan

    National Research Council Canada - National Science Library

    2001-01-01

    The Federal Financial Management Improvement Act of 1996 requires DoD financial management systems to comply substantially with Federal financial management system requirements, Federal accounting standards, and the U.S...

  5. Financial Enmeshment: Untangling the Web

    Directory of Open Access Journals (Sweden)

    Bradley Klontz

    2015-12-01

    Full Text Available Children learn through observing and interacting with their parents. Much of what children learn about money comes from these observations and interactions. An area of concern in parent – child relationships is the impact of boundaries and roles. Parents whose boundaries with their children are rigid and inflexible do not prepare their children to effectively deal with stress in their lives. Similarly, parents whose boundaries are too flexible may impede their children’s ability to develop appropriate coping skills. This is true of their development of personal finance, money, consumption, and debt coping skills. Financial enmeshment occurs when parents involve their children in adult financial matters before the children are cognitively and emotionally ready to cope with the information. Financial enmeshment may have a negative effect on the child’s development. Financial enmeshment can be addressed through financial therapy. This paper explores the dynamic of financial enmeshment and discusses tools available to financial professionals to help identify the dynamic and structure interventions.

  6. Financial Literacy and Long- and Short-Term Financial Behavior in Different Age Groups

    Science.gov (United States)

    Henager, Robin; Cude, Brenda J.

    2016-01-01

    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,…

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

    OpenAIRE

    Daniela Vitan

    2011-01-01

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

  8. CEA financial report 2007; CEA rapport financier 2007

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2007-07-01

    This document provides financial data on the CEA for the year 2007. The management report (budget, resources, expenditures) and the accounting are detailed. The main management events of the year 2007 are presented. (A.L.B.)

  9. Integrating Financial Literacy Concepts into the Introductory Financial Accounting Course

    Directory of Open Access Journals (Sweden)

    C. Andrew Lafond

    2014-05-01

    Full Text Available Financial illiteracy is a growing problem in this country and college students are amongst those not knowing enough about personal finance.  However, few colleges and universities require or offer a course in personal finance, but we believe accounting educators are uniquely qualified to improve their students’ financial literacy.  This paper describes an effective and efficient way to introduce some basic personal finance concepts to freshman business students in a Financial Accounting course while minimizing class time.  In addition, the assignments require an active writing learning approach which addresses the numerous calls for incorporation of writing assignments into the business school curriculum.  The assignments improved students’ interest in personal finance, made connections to the Financial Accounting course creating a more interesting and relevant course, and provides a rewarding teaching experience for instructors.

  10. FINANCIAL STATEMENTS – SUPPLIER OF FINANCIAL ACCOUNTING INFORMATION

    Directory of Open Access Journals (Sweden)

    Costi Boby

    2013-09-01

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

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

    Directory of Open Access Journals (Sweden)

    Annamaria Lusardi

    2012-01-01

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

  12. Annual Financial Statements as a Financial Communication Support

    Directory of Open Access Journals (Sweden)

    Avram Costin Daniel

    2017-01-01

    The new accounting regulations consider the balance sheet a synthetic instrument thatsynthesizes the financial position of an economic entity, that is to say the balance sheet gives a trueimage of the entity’s entire patrimony at a given moment.

  13. FINANCIAL STABILITY AS A FACTOR ECONOMIC SECURITY

    OpenAIRE

    A. V. Endovitskaya; Volkova, T. A.

    2015-01-01

    Summary. The article examines the linkages between financial stability and the level of its economic security. Considered the content of financial stability, represented by its own definition, we studied the basic conditions to achieve it. The logic diagram showing the location of financial stability and financial security to ensure the economic security of the business entity. A system of internal and external factors affecting the financial stability and endanger financial stability and fin...

  14. The Financial Service as an Economic Category

    OpenAIRE

    Matsuk Zoriana A.

    2017-01-01

    The article is aimed at: systematization of the existing provisions of research on financial service; allocation of the primary, the secondary, and the auxiliary financial services; analysis of the material basis of financial service and its consideration as the sum total of the high and the low material shares; exploration of the issue of cost of financial services. A definition of financial service as the possibility for implementation of a financial interest of market participant has been ...

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

    Directory of Open Access Journals (Sweden)

    Asta Zokaityte

    2016-03-01

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

  16. India emerging: New financial architecture

    Directory of Open Access Journals (Sweden)

    Sankarshan Basu

    2016-09-01

    Full Text Available The global financial crisis of 2007–2008 highlighted the need to re-evaluate several well established tenets in the world of finance. Questions have been raised the world over about the existing paradigm, leading to an acceptance that new financial architecture needed to be evolved and that new models need to emerge, keeping in mind the multiplicity of socio-economic realities that exist round the globe. In this context, the imperative for a new financial architecture in India is quite evident, and the ensuing panel discussion throws up some India-specific issues that need to be explored by the various stakeholders involved in this attempt.

  17. Methods of Financial Risk Management

    Directory of Open Access Journals (Sweden)

    Korzh Natalia

    2016-10-01

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

  18. Financialization and the Multinational Corporation

    DEFF Research Database (Denmark)

    Morgan, Glenn

    2014-01-01

    The terrain on which states, trade unions and social movements confront multinational corporations has changed dramatically over the last two decades as a result of two phenomena – the disaggregation of the supply chain and the financialization of corporations. Trade unions and social movements...... are integrally related within the same process of neoliberal globalization. It argues that trade unions and social movements need to connect together issues to do with the relocation and restructuring of employment with issues of financialization and the need for financial reform. Change will only be effective...

  19. Financial exposure and the international transmission of financial shocks

    OpenAIRE

    Gunes Kamber; Christoph Thoenissen

    2013-01-01

    This paper analyzes the transmission mechanism of banking sector shocks in an international real business cycle model with heterogeneous bank sizes. We examine to what extent the financial exposure of the banking sector affects the transmission of foreign banking sector shocks. In our model, the more exposed domestic banks are to the foreign economy via lending to foreign firms, the greater are the spillovers from foreign financial shocks to the home economy. The model highlights the role of ...

  20. GLOBALIZATION AND INTERNATIONAL FINANCIAL CENTERS ACTIVITY

    Directory of Open Access Journals (Sweden)

    VALENTINA FETINIUC

    2015-10-01

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

  1. The financial accelerator effect: concept and challenges

    National Research Council Canada - National Science Library

    Bruno Coric

    2011-01-01

    .... We find that the financial accelerator effect, as it is known, provides a consistent, first principle based, theoretical framework for the analysis of the relationship between financial markets...

  2. Raising household saving: does financial education work?

    National Research Council Canada - National Science Library

    Gale, William G; Harris, Benjamin H; Levine, Ruth

    2012-01-01

    This article highlights the prevalence and economic outcomes of financial illiteracy among American households, and reviews previous research that examines how improving financial literacy affects household saving...

  3. Do remittances promote financial development in Africa?

    National Research Council Canada - National Science Library

    Karikari, Nana Kwasi; Mensah, Sam; Harvey, Simon K

    2016-01-01

    The paper seeks to establish whether or not remittances promoted financial developments and explore the traceable causality between remittances and financial developments in some countries in Africa...

  4. Traffic Rules in Electronic Financial Transactions (EFT Networks

    Directory of Open Access Journals (Sweden)

    Vedran Batoš

    2002-01-01

    Full Text Available This paper presents the traffic rules in the EFT (ElectronicFinancial Transactions networks, based on the implementationof the solution called Gold-Net developed and implementedby Euronet Worldwide Inc. Following the traffic rulesin EFT networks, out of its worldwide experience, Gold-Netevolved a comprehensive and expandable EFT network solutiondesigned to meet an institution's needs today and in the future.It is an ITM (Integrated Transaction Management solution,modular and expandable, and consists of a comprehensiveEFT software modules with ATM and POS driving capabilities.The combination of ATM management and the onlineconnection form the intercept processing control module. Asthe marketplace grows, this solution ensures that an ente1prisemay position itself for future growth and expanded service offerings.

  5. The Financial Crisis and the Systemic Failure of Academic Economics

    DEFF Research Database (Denmark)

    Colander, David; Föllmer, Hans; Haas, Armin

    The economics profession appears to have been unaware of the long build-up to the current worldwide financial crisis and to have significantly underestimated its dimensions once it started to unfold. In our view, this lack of understanding is due to a misallocation of research efforts in economics....... We trace the deeper roots of this failure to the profession's focus on models that, by design, disregard key elements driving outcomes in real-world markets. The economics profession has failed in communicating the limitations, weaknesses, and even dangers of its preferred models to the public...

  6. Energy economics and financial markets

    Energy Technology Data Exchange (ETDEWEB)

    Dorsman, Andre [Vrije Univ. Amsterdam (Netherlands). Dept. of Finance; Simpson, John L. [Curtin Univ., Perth, WA (Australia). School of Economics and Finance; Westerman, Wim (eds.) [Groningen Univ. (Netherlands). Faculty of Economics and Business Economics, Econometrics and Finance

    2013-10-01

    Deals with the upcoming theme of energy issues. Links energy issues with economics and financial markets. Combines global focus with specific regional and local examples. Unites theoretical insights with timely data and practical insights. Specialized author team from all over the world. Energy issues feature frequently in the economic and financial press. Specific examples of topical energy issues come from around the globe and often concern economics and finance. The importance of energy production, consumption and trade raises fundamental economic issues that impact the global economy and financial markets. This volume presents research on energy economics and financial markets related to the themes of supply and demand, environmental impact and renewables, energy derivatives trading, and finance and energy. The contributions by experts in their fields take a global perspective, as well as presenting cases from various countries and continents.

  7. The Nordic financial electricity market

    Energy Technology Data Exchange (ETDEWEB)

    2010-11-15

    NordREG is a cooperation of the Nordic energy regulators. The mission is to actively promote legal and institutional framework and conditions necessary for developing the Nordic and European electricity markets. The financial market is an important market for market participants to mitigate their risks. By providing tools for risk management, the financial market contributes to the efficient functioning of both wholesale and end-user markets. NordREG decided during 2009 to undertake a study on the Nordic financial electricity market. The aim of the report is to consider whether any improvements can be made to further increase the efficiency of the Nordic financial electricity market in order to secure an optimal price setting in the wholesale and the end-user markets

  8. Fractal properties of financial markets

    Science.gov (United States)

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

    2014-09-01

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

  9. Marketing particularities in financial organizations

    OpenAIRE

    Hanić Hasan; Domazet Ivana

    2012-01-01

    Acceptance of marketing as a business concept in financial organizations, implies that the respective organization adopts the following marketing postulations: value of action capital conclusively depends on the client (value); key goal of marketing management in financial organizations is to attract new and retain existing clients; clients are attracted by delivering superior value/offer, and retaind by generating client satisfaction; in creating and delivering superior quality (value), mark...

  10. Financial Restructuring and Credit Unions

    OpenAIRE

    Greinke, Andrew

    1998-01-01

    The nature of credit unions as mutual financial institutions is examined and the economic implications of mutuality explored. While manager-shareholder agency costs are likely to be exacerbated within credit unions, shareholder-debtholder agency costs are likely to be eliminated. In this context, the implications for credit unions of the Campbell Report, the Financial Institutions scheme, and the Wallis Inquiry are discussed. While the imposition of risk-weighted capital adequacy requirements...

  11. Bubbles, Banks, and Financial Stability

    OpenAIRE

    Kosuke Aoki; Kalin Nikolov

    2011-01-01

    This paper asks two main questions: (1) What makes some asset price bubbles more costly for the real economy than others? and (2) When do costly bubbles occur? We construct a model of rational bubbles under credit frictions and show that when bubbles held by banks burst this is followed by a costly financial crisis. In contrast, bubbles held by ordinary savers have relatively muted effects. Banks tend to invest in bubbles when financial liberalisation decreases their profitability.

  12. Reassessment of MLST schemes for Leptospira spp. typing worldwide.

    Science.gov (United States)

    Varni, Vanina; Ruybal, Paula; Lauthier, Juan José; Tomasini, Nicolás; Brihuega, Bibiana; Koval, Ariel; Caimi, Karina

    2014-03-01

    Leptospirosis is a neglected zoonosis of global importance. Several multilocus sequence typing (MLST) methods have been developed for Leptospira spp., the causative agent of leptospirosis. In this study we reassessed the most commonly used MLST schemes in a set of worldwide isolates, in order to select the loci that achieve the maximum power of discrimination for typing Leptospira spp. Global eBURST algorithm was used to detect clonal complexes among STs and phylogenetic relationships among concatenated and individual sequences were inferred through maximum likelihood (ML) analysis. The evaluation of 12 loci combined to type a subset of strains rendered 57 different STs. Seven of these loci were selected into a final scheme upon studying the number of alleles and polymorphisms, the typing efficiency, the discriminatory power and the ratio dN/dS per nucleotide site for each locus. This new 7-locus scheme was applied to a wider collection of worldwide strains. The ML tree constructed from concatenated sequences of the 7 loci identified 6 major clusters corresponding to 6 Leptospira species. Global eBURST established 8 CCs, which showed that genotypes were clearly related by geographic origin and host. ST52 and ST47, represented mostly by Argentinian isolates, grouped the higher number of isolates. These isolates were serotyped as serogroups Pomona and Icterohaemorrhagiae, showing a unidirectional correlation in which the isolates with the same ST belong to the same serogroup. In summary, this scheme combines the best loci from the most widely used MLST schemes for Leptospira spp. and supports worldwide strains classification. The Argentinian isolates exhibited congruence between allelic profile and serogroup, providing an alternative to serological methods. Published by Elsevier B.V.

  13. AREVA’s Containment Venting Technologies and Experience Worldwide

    Energy Technology Data Exchange (ETDEWEB)

    Welker, M.

    2015-07-01

    The AREVA Filtered Containment Venting System (FCVS) is a product family that minimizes the environmental impact in case of a severe accident in a nuclear power plant (NPP). Our experience is based on a large-scale test and qualification program as well as on the design, licensing and installation of more than 80 projects worldwide. The product family provides flexibility regarding the adaptation to respective accident scenarios, applicable codes and standards, seismic design, supply chain, implementation and localization. AREVA has broad experience of managing fleet supplies, successful support of licensing and cooperating with original equipment manufacturers (OEMs) of pressurized and boiling water reactors (PWR and BWR). (Author)

  14. [Optimal world-wide obstetrical care; a WHO report].

    Science.gov (United States)

    Essed, G G

    1997-09-20

    'Safe motherhood; care in normal birth: a practical guide' is a document produced by an international technical working group of the World Health Organization. This report addresses issues of care during normal birth irrespective of country or region. Routine interventions and non-interventions in the physiological processes of pregnancy and labour are analysed and assessed for their scientific validity. Scientific foundation of obstetric practice is considered an important step towards worldwide demystification of obstetric practice, which now often relies on authority, culture and habit. For risk assessment, the cornerstone of the Dutch system of obstetric care, an evidence-based strategy is imperative. This requires scientific training in schools of midwifery.

  15. Mapping world-wide science at the paper level.

    Energy Technology Data Exchange (ETDEWEB)

    Klavans, Richard (SciTech Strategies, Inc., Berwyn, PA); Boyack, Kevin W.

    2005-01-01

    This article describes recent improvements in mapping a highly representative set of the world-wide scientific literature. The process described in this article extends existing work in this area in three major ways. First, we argue that a separate structural analysis of current literature vs. reference literature is required for R&D planning. Second, visualization software is used to improve coverage of the literature while maintaining structural integrity. Third, quantitative techniques for measuring the structural integrity of a map are introduced. Maps with high structural integrity, covering far more of the available literature, are presented.

  16. Worldwide status of energy standards for buildings: Appendices

    Energy Technology Data Exchange (ETDEWEB)

    Janda, K.B.; Busch, J.F.

    1993-02-01

    This informal survey was designed to gain information about the worldwide status of energy efficiency standards for buildings, particularly non-residential buildings such as offices, schools, and hotels. The project has three goals: 1. To understand and learn from the experience of countries with existing building energy standards; 2. To locate areas where these lessons might be applied and energy standards might be effectively proposed and developed; and 3. To share the information gathered with all participating countries. These appendices include the survey cover letter, the survey, and the details of selected energy standards in 35 countries, thus providing supporting material for the authors` article of the same title.

  17. SUSTAINABILITY REPORTING – AN ANALYSIS OF THE WORLDWIDE DIFFUSION

    Directory of Open Access Journals (Sweden)

    Radu-Dan TURCU

    2015-04-01

    Full Text Available The increasing importance of sustainability issues expressed by different types of stakeholders has placed them among the leading topics inside the accounting literature. The paper aims to extend the current knowledge through the analysis of the relation between the number of sustainability reports issued by companies inside one country and its social, environmental and economic performances from a worldwide perspective, with a particular focus on the European Union. Our results indicate a positive correlation between the analyzed variables, denoting a higher involvement of companies from more developed countries for the improvement of sustainability reporting concept and practice.

  18. Current Status of Worldwide Use of Patient-Reported Outcome Measures (PROMs) in Spine Care.

    Science.gov (United States)

    Falavigna, Asdrubal; Dozza, Diego Cassol; Teles, Alisson R; Wong, Chung Chek; Barbagallo, Giuseppe; Brodke, Darrel; Al-Mutair, Abdulaziz; Ghogawala, Zoher; Riew, K Daniel

    2017-12-01

    Patient-reported outcome measures (PROMs) are the most widely accepted means of measuring outcomes after spine procedures. We sought to determine the current status of worldwide use of PROMs in Latin America (LA), Europe (EU), Asia Pacific (AP), North America (NA), and Middle East (ME) to determine the barrier to its full implementation. A questionnaire survey was sent by e-mail to members of AOSpine to evaluate their familiarity and use of PROMs instruments and to assess the barriers to their use in spine care practice in LA, EU, AP, NA, and ME. A total of 1634 AOSpine members from LA, EU, AP, NA, and ME answered the electronic questionnaire. The percentage of spine surgeons who were familiar with the generic health-related quality of life questionnaire was 71.7%. In addition, 31.9% of respondents did not use any PROMs routinely. The main barriers to implementing PROMs were lack of time to administer the questionnaires (57%) followed by lack of staff to assist in data collection (55%), and the long time to fill out the questionnaires (46%). The routine use of questionnaires was more frequent in NA and EU and less common in LA and ME (P spine surgeons do not use the PROMs questionnaire routinely. This appears to occur because of lack of knowledge regarding their importance, absence of reimbursement for this extra work, minimal financial support for clinical research, the cost of implementation, and lack of concern among physicians. Copyright © 2017 Elsevier Inc. All rights reserved.

  19. WorldWide Telescope Ambassadors, a Year 3 Update

    Science.gov (United States)

    Udomprasert, Patricia S.; Goodman, A. A.; Wong, C.

    2013-01-01

    The WorldWide Telescope Ambassadors (WWTA) Program has a track record of inspiring middle school students and getting them excited about science. The WorldWide Telescope (WWT) is a stunningly beautiful and freely available data visualization environment developed by Microsoft Research in collaboration with professional astronomers. Trained volunteer Ambassadors show teachers and students how to use WWT in their classrooms to explore and learn about our Universe. Our initial study has shown that WWT increases student understanding of astrophysical concepts and interest in astronomy and science. As an example of how excited students feel about learning astronomy with WWT, one middle school boy exclaimed, “This is way cooler than Call of Duty!” Our vision is to capitalize on the demonstrated inspirational and educational potential of WWT to increase the number of students who express interest in STEM fields. In this oral presentation, we provide a status update on the WWTA program, including ongoing results from our work with over 700 middle school students to date, and preliminary results from a new NSF-funded study comparing learning and interest gains for students studying Moon phases with WWT vs with the 2-dimensional simulator activity that accompanies their textbook. More information is available at wwtambassadors.org

  20. Global Immunizations: Health Promotion and Disease Prevention Worldwide.

    Science.gov (United States)

    Macintosh, Janelle L B; Eden, Lacey M; Luthy, Karlen E; Schouten, Aimee E

    Immunizations are one of the most important health interventions of the 20th century, yet people in many areas of the world do not receive adequate immunizations. Approximately 3 million people worldwide die every year from vaccine-preventable diseases; about half of these deaths are young children and infants. Global travel is more common; diseases that were once localized now can be found in communities around the world. Multiple barriers to immunizations have been identified. Healthcare access, cost, and perceptions of safety and trust in healthcare are factors that have depressed global immunization rates. Several global organizations have focused on addressing these barriers as part of their efforts to increase immunization rates. The Bill and Melinda Gates Foundation, The World Health Organization, and the United Nations Children's Emergency Fund each have a part of their organization that is concentrated on immunizations. Maternal child nurses worldwide can assist in increasing immunization rates. Nurses can participate in outreach programs to ease the burden of patients and families in accessing immunizations. Nurses can work with local and global organizations to make immunizations more affordable. Nurses can improve trust and knowledge about immunizations in their local communities. Nurses are a powerful influence in the struggle to increase immunization rates, which is a vital aspect of global health promotion and disease prevention.

  1. Measurements of Worldwide Radioxenon Backgrounds - The "EU" Project

    Energy Technology Data Exchange (ETDEWEB)

    Bowyer, Ted W.; Cooper, Matthew W.; Hayes, James C.; Forrester, Joel B.; Haas, Derek A.; Hansen, Randy R.; Keller, Paul E.; Kirkham, Randy R.; Lidey, Lance S.; McIntyre, Justin I.; Miley, Harry S.; Payne, Rosara F.; Saey, Paul R.; Thompson, Robert C.; Woods, Vincent T.; Williams, Richard M.

    2009-09-24

    Under the Comprehensive Nuclear-Test-Ban Treaty (CTBT), radioactive xenon (radioxenon) measurements are one of the principle techniques used to detect nuclear underground nuclear explosions, and specifically, the presence of one or more radioxenon isotopes allows one to determine whether a suspected event was a nuclear explosion or originated from an innocent source. During the design of the International Monitoring System (IMS), which was designed as the verification mechanism for the Treaty, it was determined that radioxenon measurements should be performed at 40 or more stations worldwide. At the time of the design of the IMS, however, very few details about the background of the xenon isotopes was known and it is now recognized that the backgrounds were probably evolving anyhow. This paper lays out the beginning of a study of the worldwide concentrations of xenon isotopes that can be used to detect nuclear explosions and several sources that also release radioxenons, and will have to be accounted for during analysis of atmospheric levels. Although the global concentrations of the xenon isotopes are the scope of a much larger activity that could span over several years, this study measures radioxenon concentrations in locations where there was either very little information or there was a unique opportunity to learn more about emissions from known sources. The locations where radioxenon levels were measured and reported are included.

  2. [The expected worldwide burden of oesophagus, stomach and colorectal cancers].

    Science.gov (United States)

    Geryk, E; Horváth, T; Konecný, M

    2011-12-01

    According database of Globocan 2008 of total 482 thousand worldwide new esophagel cancers are reported 16.9% cases in more developed and 83.1% in less developed regions, 6.9% in EU, 2.7% in the Eastern Europe; of total 989 thousand new stomach cancers are reported 27.8% in more developed and 72.2% in less developed regions, 8.4% in EU, 7.4% in the Eastern Europe; of total 1.235 milion new colorectal cancers are reported 59% cases in more developed and 41% in less developed regions, 27% in EU, 10.5% in the Eastern Europe. Of total 59,052 all neoplasms (without skin cancers) were reported 10,439 new cases of these three diagnoses in recent Czech Cancer Registry survey, higher by 595 cases than numbers based in Globocan 2008. However, according to these data the Czech males reached the 3rd order and females the 14th order by their cumulative risk of colorectal cancer in the world. The alarming worldwide numbers of new 4.771 milion of these three diagnoses and 3,137 thousands deaths from them, expected in 2030 with a higher risk in population of less developed regions require greater international cooperation and personal responsibility for improving the life-style, which would be failed the expected statistics.

  3. Estimates of worldwide burden of cancer in 2008: GLOBOCAN 2008.

    Science.gov (United States)

    Ferlay, Jacques; Shin, Hai-Rim; Bray, Freddie; Forman, David; Mathers, Colin; Parkin, Donald Maxwell

    2010-12-15

    Estimates of the worldwide incidence and mortality from 27 cancers in 2008 have been prepared for 182 countries as part of the GLOBOCAN series published by the International Agency for Research on Cancer. In this article, we present the results for 20 world regions, summarizing the global patterns for the eight most common cancers. Overall, an estimated 12.7 million new cancer cases and 7.6 million cancer deaths occur in 2008, with 56% of new cancer cases and 63% of the cancer deaths occurring in the less developed regions of the world. The most commonly diagnosed cancers worldwide are lung (1.61 million, 12.7% of the total), breast (1.38 million, 10.9%) and colorectal cancers (1.23 million, 9.7%). The most common causes of cancer death are lung cancer (1.38 million, 18.2% of the total), stomach cancer (738,000 deaths, 9.7%) and liver cancer (696,000 deaths, 9.2%). Cancer is neither rare anywhere in the world, nor mainly confined to high-resource countries. Striking differences in the patterns of cancer from region to region are observed. Copyright © 2010 UICC.

  4. The worldwide costs of dementia 2015 and comparisons with 2010.

    Science.gov (United States)

    Wimo, Anders; Guerchet, Maëlenn; Ali, Gemma-Claire; Wu, Yu-Tzu; Prina, A Matthew; Winblad, Bengt; Jönsson, Linus; Liu, Zhaorui; Prince, Martin

    2017-01-01

    In 2010, Alzheimer's Disease International presented estimates of the global cost of illness (COI) of dementia. Since then, new studies have been conducted, and the number of people with dementia has increased. Here, we present an update of the global cost estimates. This is a societal, prevalence-based global COI study. The worldwide costs of dementia were estimated at United States (US) $818 billion in 2015, an increase of 35% since 2010; 86% of the costs occur in high-income countries. Costs of informal care and the direct costs of social care still contribute similar proportions of total costs, whereas the costs in the medical sector are much lower. The threshold of US $1 trillion will be crossed by 2018. Worldwide costs of dementia are enormous and still inequitably distributed. The increase in costs arises from increases in numbers of people with dementia and in increases in per person costs. Copyright © 2016 The Authors. Published by Elsevier Inc. All rights reserved.

  5. Worldwide application of prevention science in adolescent health

    Science.gov (United States)

    Catalano, Richard F; Fagan, Abigail A; Gavin, Loretta E; Greenberg, Mark T; Irwin, Charles E; Ross, David A; Shek, Daniel T L

    2015-01-01

    The burden of morbidity and mortality from non-communicable disease has risen worldwide and is accelerating in low-income and middle-income countries, whereas the burden from infectious diseases has declined. Since this transition, the prevention of non-communicable disease as well as communicable disease causes of adolescent mortality has risen in importance. Problem behaviours that increase the short-term or long-term likelihood of morbidity and mortality, including alcohol, tobacco, and other drug misuse, mental health problems, unsafe sex, risky and unsafe driving, and violence are largely preventable. In the past 30 years new discoveries have led to prevention science being established as a discipline designed to mitigate these problem behaviours. Longitudinal studies have provided an understanding of risk and protective factors across the life course for many of these problem behaviours. Risks cluster across development to produce early accumulation of risk in childhood and more pervasive risk in adolescence. This understanding has led to the construction of developmentally appropriate prevention policies and programmes that have shown short-term and long-term reductions in these adolescent problem behaviours. We describe the principles of prevention science, provide examples of efficacious preventive interventions, describe challenges and potential solutions to take efficacious prevention policies and programmes to scale, and conclude with recommendations to reduce the burden of adolescent mortality and morbidity worldwide through preventive intervention. PMID:22538180

  6. Worldwide research productivity in the field of psychiatry.

    Science.gov (United States)

    Zhang, Jinghua; Chen, Xiaoou; Gao, Xin; Yang, Huizeng; Zhen, Zhong; Li, Qingwei; Lin, Yiqun; Zhao, Xiyan

    2017-01-01

    The field of psychiatry has seen significant progress in recent years due to worldwide contributions. National productivity, however, in the field of psychiatry is still unclear. In our study, we investigated contributions of individual nations to the field of psychiatry. The Web of Science was used to perform a search from 2011 to 2015 on the subject category "psychiatry". The total number of articles, citations and the per capita numbers were obtained to analyze the contributions of different countries. In psychiatry journals from 2011 to 2015, 84,760 articles were published worldwide. The most productive world areas were North America, East Asia, Europe and Oceania. The percentage of articles published in high-income countries was 87.77%, middle-income countries published 12.07%, and lower-income published 0.16%. Most articles were published by the United States (32.68%); the United Kingdom was next (8.59%), which was followed by Germany (6.77%), Australia (5.87%), and Canada (4.9%). The country with the highest number of citations (243,394) was the United States. A positive correlation was found between the population/GDP and the number of publications (P GDP. The authorship of most of the psychiatry articles was from high-income countries and few papers came from low-income countries. The most productive country was the United States. However, when normalized to population size and GDP, some European and Oceania countries were most productive.

  7. 14 CFR 1260.26 - Financial management.

    Science.gov (United States)

    2010-01-01

    ... 14 Aeronautics and Space 5 2010-01-01 2010-01-01 false Financial management. 1260.26 Section 1260... AGREEMENTS General Provisions § 1260.26 Financial management. Financial Management August 2003 (a) Advance payments through a Letter of Credit will be made by the Financial Management Office of the NASA Center...

  8. 78 FR 14024 - Financial Market Utilities

    Science.gov (United States)

    2013-03-04

    ... CFR Part 234 RIN No. 7100-AD 94 Financial Market Utilities AGENCY: Board of Governors of the Federal... maintain an account for, and through the account provide certain financial services to, financial market... financial markets and the broader economy rely to function effectively. FMUs operate multilateral systems in...

  9. 78 FR 76973 - Financial Market Utilities

    Science.gov (United States)

    2013-12-20

    ... CFR Part 234 RIN 7100 AD-94 Financial Market Utilities AGENCY: Board of Governors of the Federal... through the account provide certain financial services to, financial market utilities (``FMUs'') that are..., upon which the financial markets and the broader economy rely to function effectively. FMUs operate...

  10. Market-based approach to financial architecture

    NARCIS (Netherlands)

    Underhill, G.R.D.; Caprio, G.; Beck, T.; Claessens, S.; Schmukler, S.L.

    2013-01-01

    The institutions of financial governance are central to the prospects for financial stability. Without sound regulatory and supervisory institutions, herd behavior and market failure looms large in a liberal financial system. Cross-border and cross-sectoral financial market integration exacerbates

  11. Financial Management and Young Australian Workers

    Science.gov (United States)

    Dowling, Nicki; Hoiles, Lauren; Corney, Tim; Clark, David

    2008-01-01

    In two studies of young Australian workers, participants generally displayed positive attitudes towards financial management practices; however, a substantial proportion failed to display positive financial management practices, experienced financial problems and dissatisfaction, and reported low rates of seeking financial assistance, particularly…

  12. Adolescents' Financial Literacy: The Role of Financial Socialization Agents, Financial Experiences, and Money Attitudes in Shaping Financial Literacy among South Korean Youth

    Science.gov (United States)

    Sohn, Sang-Hee; Joo, So-Hyun; Grable, John E.; Lee, Seonglim; Kim, Minjeung

    2012-01-01

    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…

  13. 29 CFR 4010.9 - Financial information.

    Science.gov (United States)

    2010-07-01

    ... ending within the information year. (b) Consolidated financial statements. If the financial information... required in paragraph (a) of this section— (1) The audited consolidated financial statements for the filer's information year or, if the audited consolidated financial statements are not available by the...

  14. 7 CFR 3016.61 - Financial reporting.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 15 2010-01-01 2010-01-01 false Financial reporting. 3016.61 Section 3016.61... AND LOCAL GOVERNMENTS Entitlement § 3016.61 Financial reporting. The financial reporting provisions... Food Distribution Program on Indian Reservations. The financial reporting requirements for these...

  15. 29 CFR 95.52 - Financial reporting.

    Science.gov (United States)

    2010-07-01

    ... 29 Labor 1 2010-07-01 2010-07-01 true Financial reporting. 95.52 Section 95.52 Labor Office of the... Records § 95.52 Financial reporting. (a) The following forms or such other forms as may be approved by OMB are authorized for obtaining financial information from recipients: (1) SF-269 or SF-269A, Financial...

  16. 2 CFR 215.52 - Financial reporting.

    Science.gov (United States)

    2010-01-01

    ... 2 Grants and Agreements 1 2010-01-01 2010-01-01 false Financial reporting. 215.52 Section 215.52... Financial reporting. (a) The following forms or such other forms as may be approved by OMB are authorized for obtaining financial information from recipients. (1) SF-269 or SF-269A, Financial Status Report...

  17. 24 CFR 320.10 - Financial reporting.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Financial reporting. 320.10 Section...-BACKED SECURITIES Pass-Through Type Securities § 320.10 Financial reporting. Issuers shall submit to the Association audited annual financial statements within 90 days of their fiscal year end. All financial...

  18. Financial Analyst II - External Funds Management | IDRC ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    Job Summary The Financial Analyst position is essential for the administration and smooth operations of donor partnerships agreements. The Financial Analyst ensures that all financial reporting to donors is accurate and in accordance with the agreements. As well, the Financial Analyst must ensure that all donor ...

  19. 22 CFR 145.52 - Financial reporting.

    Science.gov (United States)

    2010-04-01

    ... 22 Foreign Relations 1 2010-04-01 2010-04-01 false Financial reporting. 145.52 Section 145.52....52 Financial reporting. (a) The following forms or such other forms as may be approved by OMB are authorized for obtaining financial information from recipients. (1) SF-269 or SF-269A, Financial Status...

  20. 36 CFR 1210.52 - Financial reporting.

    Science.gov (United States)

    2010-07-01

    ... 36 Parks, Forests, and Public Property 3 2010-07-01 2010-07-01 false Financial reporting. 1210.52....52 Financial reporting. (a) The following forms or such other forms as may be approved by OMB are authorized for obtaining financial information from recipients. (1) SF-269 or SF-269A, Financial Status...

  1. 7 CFR 550.53 - Financial reporting.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 6 2010-01-01 2010-01-01 false Financial reporting. 550.53 Section 550.53 Agriculture... Reports and Records § 550.53 Financial reporting. Financial Status Report. (a) Each REE Agency shall.... A financial status report shall consist of the following information: (1) The name and address of...

  2. 20 CFR 435.52 - Financial reporting.

    Science.gov (United States)

    2010-04-01

    ... 20 Employees' Benefits 2 2010-04-01 2010-04-01 false Financial reporting. 435.52 Section 435.52... ORGANIZATIONS Post-Award Requirements Reports and Records § 435.52 Financial reporting. (a) Authorized forms... financial information from recipients: (1) SF-269 or SF-269A, Financial Status Report. (i) SSA requires...

  3. 24 CFR 84.52 - Financial reporting.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 1 2010-04-01 2010-04-01 false Financial reporting. 84.52 Section... Financial reporting. (a) The following forms or such other forms as may be approved by OMB are authorized for obtaining financial information from recipients. (1) SF-269 or SF-269A, Financial Status Report...

  4. A atuação do Fed antes e depois do estouro da bolha imobiliária: discricionariedade e mandato de bancos centrais em contexto de desregulamentação financeira The Fed's actions before and after the housing bubble burst: discretion and mandate of central banks in an environment of financial deregulation

    Directory of Open Access Journals (Sweden)

    Olívia Bullio

    2011-08-01

    Full Text Available A atuação do Federal Reserve System - Fed - durante a formação e estouro da bolha imobiliária mostra as dificuldades de um banco central em processos financeiros de grande magnitude. O Fed foi leniente com o desenvolvimento da bolha, por considerar que a alta do preço dos imóveis ajudava a reduzir os riscos de instabilidade financeira gerados pelas crises de 2000-2002. Quando a crise do mercado subprime se tornou aguda, em setembro de 2008, o Fed atuou agressivamente como emprestador de última instância, expandindo a base monetária para conter os riscos de inadimplência generalizada no mercado interbancário. Nos dois momentos, o Fed agiu com pragmatismo e discricionariedade, contrariando as teses dominantes do "Novo Consenso", mas foi "prisioneiro" dessas teses e dos interesses do mercado financeiro: a tese de que a desregulamentação dos mercados favorece a sociedade inibiu iniciativas intervencionistas para restringir as inovações financeiras no mercado imobiliário; a tese de que o mandato da Autoridade Monetária deve ser a estabilidade de preços contribuiu para a leniência com os riscos crescentes nos mercados financeiros.The Fed's actions during the development and burst of the US real estate bubble highlight a Central Bank's dilemma when facing a financial process of great magnitude. During the bubble's development and growth, the Fed was lenient since it considered that the increase in real estate prices helped reduce the risk of financial instability brought on by the financial crisis from 2000 to 2002. When the subprime crisis surfaced, the Fed started to act vigorously as a lender of last resort, with a vigorous expansion of the monetary basis in order to defend the system from the risk of a widespread default in the interbank market. In both cases the Fed was pragmatic and discretionary, and did not follow the mainstream thesis in economics analysis, the so called "New Monetary Consensus". However, at the same time

  5. Financial Knowledge and the Gender Gap

    Directory of Open Access Journals (Sweden)

    Ann Woodyard

    2012-06-01

    Full Text Available Financial knowledge has been identified as an issue of importance to individual financial wellness. The FINRA Financial Capability Study provides data that make it possible to assess financial knowledge, and to analyze it in the context of financial satisfaction and participation in financial behaviors that are generally considered positive. This paper looks at these relationships by gender and by age group, identifying key differences in outcomes and behaviors. The aim of this study was to identify areas and issues where policy makers can focus efforts, and where practitioners can develop education and therapy protocols to assist clients in financial development and restoration.

  6. Social Knowledge for Financial Markets

    Directory of Open Access Journals (Sweden)

    Gertraude Mikl-Horke

    2010-08-01

    Full Text Available Financial literacy is an important issue today, but it is directed/limited to improve the practical skills of people taking financial markets and their present working for granted. However, financial markets are social institutions and social processes involving network relations as well as rules and norms. Globalization has resulted in a dominating role of financial markets over the economy with importance for the transformation of capitalistic society. The sociological perspectives on financial markets have relevance also for the present crisis for which several explanations have been suggested. Most explanations overlook, however, the process of disembedding of the financial markets from the societal context, which is represented by the reliance on a specific kind of knowledge. To illustrate the need for reintegrating financial markets in the economy and making them more responsive to societal concerns, financial knowledge requires to be embedded into social knowledge about the function of financial markets for society, the importance of norms and the social character of markets.Finanzerziehung ist ein wichtiges Anliegen in der Gegenwart, aber die „finanzielle Alphabetisierung“ beschränkt sich auf die Vermittlung praktischen Wissens, ohne die Finanzmärkte und ihr Funktionieren zu hinterfragen. Aber Finanzmärkte sind soziale Institutionen und soziale Prozesse, die Netzwerkbeziehungen sowie Regeln und Normen umfassen. Die Globalisierung resultierte in einer dominierenden Rolle des Finanzsystems im Verhältnis zur Wirtschaft und mit Implikationen für die Transformation der kapitalistischen Gesellschaft. Die soziologischen Perspektiven auf Finanzmärkte sind auch für die gegenwärtige Krise relevant, die verschieden zu erklären versucht wird. Diese Erklärungen übersehen jedoch vielfach den Prozess der Entbettung der Finanzmärkte aus den gesellschaftlichen Kontexten, der sich auch durch die Betonung einer spezifischen Art von Wissen

  7. Three Interventions for Financial Therapy: Fostering an Examination of Financial Behaviors and Beliefs

    Directory of Open Access Journals (Sweden)

    Rebekah J. Nelson

    2015-07-01

    Full Text Available Three interventions that address the emotional components of handling finances are proposed. Drawn from a stepwise model of financial therapy, the three interventions introduced here have the specific aim of incorporating the emotional attributes of traditional financial behaviors and beliefs. First, the Financial Genogram identifies family of origin issues that may affect financial behaviors; second, the Financial Landscape intervention is used when emotional stress occurs in collecting and examining financial documents; and third, the Financial Mirror broadens clients’ perspectives of their financial behaviors. Issues in future research and implementation of the Five Step model are addressed in treating financially distressed clients.

  8. Promoting palliative care worldwide through international nursing education.

    Science.gov (United States)

    Malloy, Pam; Paice, Judith; Coyle, Nessa; Coyne, Patrick; Smith, Thomas; Ferrell, Betty

    2014-10-01

    Many challenges exist when providing international education to those who care for people at the end of life. Though issues related to culture and language may vary, the one commonality that crosses all nations is that its people die. In general, societies seek to provide the best care they are trained to give. Many have few resources to provide this care well. Traditions of the past influence norms and dictate policies and procedures of the present. Since its inception in 2000, the End-of-Life Nursing Education Consortium Project has provided palliative care education to nurses and other members of the interdisciplinary team in six of the seven continents. This article describes the efforts of this project to improve education around the globe, with the goal of providing excellent, compassionate palliative care, irrespective of location, financial status, political views, religion, race, and/or ethnicity. © The Author(s) 2014.

  9. Marketing particularities in financial organizations

    Directory of Open Access Journals (Sweden)

    Hanić Hasan

    2012-01-01

    Full Text Available Acceptance of marketing as a business concept in financial organizations, implies that the respective organization adopts the following marketing postulations: value of action capital conclusively depends on the client (value; key goal of marketing management in financial organizations is to attract new and retain existing clients; clients are attracted by delivering superior value/offer, and retaind by generating client satisfaction; in creating and delivering superior quality (value, marketing must have full colaboration with other departments (functional business areas. Due to the financial services nature, marketing management demands the classical marketing mix concept to accomodate and expand with respect to basic 4P concept, by adding new elements related to humen force (employees, physical environment and the manner in which they provide services to their clients. Therefore we believe that for the financial organizations 7P, namely 7C model is more adequate than classical model, and that it represents conceptual frame that identifies wider spectar of marketing management tools. In addition, we would like to emphasize that the advertisment, that participates with over 2/3 in total marketing budget, represents the dominant promotional form and that the budget structure for advertizing is commonly defined by the goal and task method, that stands for an important indicator of proper market orientation of financial organizations in Serbia.

  10. Threats to financial system security

    Energy Technology Data Exchange (ETDEWEB)

    McGovern, D.E.

    1997-06-01

    The financial system in the United States is slowly migrating from the bricks and mortar of banks on the city square to branch banks, ATM`s, and now direct linkage through computers to the home. Much work has been devoted to the security problems inherent in protecting property and people. The impact of attacks on the information aspects of the financial system has, however, received less attention. Awareness is raised through publicized events such as the junk bond fraud perpetrated by Milken or gross mismanagement in the failure of the Barings Bank through unsupervised trading activities by Leeson in Singapore. These events, 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. Most of the losses can be traced to the contribution of many small attacks perpetrated against a variety of vulnerable components and systems. This paper explores the magnitude of these financial system losses and identifies new areas for security to be applied to high consequence events.

  11. Financial Literacy of Pupils at Grammar School

    OpenAIRE

    Nováková, Kateřina

    2013-01-01

    The diploma thesis "Financial literacy of pupils at grammar school" deals with the attitudes of students to the issue of financial literacy and the level of their knowledge. It focuses on individual components of financial literacy and key factors which influence and shape the students' knowledge and attitudes. Comparing available literature sources the definition of financial literacy is discussed in the theoretical part. The theoretical part also includes the way financial education is regu...

  12. In the Spotlight of the Financial Globalization

    OpenAIRE

    Lupu Iulia; Criste Adina

    2013-01-01

    The financial globalization, driven by different forces, brings some potential benefits, and at the same time may generate important risks. The main actors - financial markets, international financial organizations and states have been concerned about the development of globalization in the recent decades. The innovations and the technological changes in the financial system have encouraged the financial integration of markets in a globalized context. Although the exposure of the national fin...

  13. Uncertainty in an Interconnected Financial System, Contagion

    OpenAIRE

    Mei Li; Frank Milne; Junfeng Qiu

    2013-01-01

    This paper studies contagion and market freezes caused by uncertainty in financial network structures and provides theoretical guidance for central banks. We establish a formal model to demonstrate that, in a financial system where financial institutions are interconnected, a negative shock to an individual financial institution could spread to other institutions, causing market freezes because of creditors' uncertainty about the financial network structure. Central bank policies to alleviate...

  14. Bubbles, Financial Crises, and Systemic Risk

    OpenAIRE

    Markus K. Brunnermeier; Martin Oehmke

    2012-01-01

    This chapter surveys the literature on bubbles, financial crises, and systemic risk. The first part of the chapter provides a brief historical account of bubbles and financial crisis. The second part of the chapter gives a structured overview of the literature on financial bubbles. The third part of the chapter discusses the literatures on financial crises and systemic risk, with particular emphasis on amplification and propagation mechanisms during financial crises, and the measurement of sy...

  15. Financial Stress, Self-Efficacy, and Financial Help-Seeking Behavior of College Students

    Science.gov (United States)

    Lim, HanNa; Heckman, Stuart J.; Letkiewicz, Jodi C.; Montalto, Catherine P.

    2014-01-01

    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…

  16. Future of European Financial Supervision, Towards a European System of Financial Supervisors

    NARCIS (Netherlands)

    Arons, T.M.C.

    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

  17. FINANCIAL STABILITY AS A FACTOR ECONOMIC SECURITY

    Directory of Open Access Journals (Sweden)

    A. V. Endovitskaya

    2015-01-01

    Full Text Available Summary. The article examines the linkages between financial stability and the level of its economic security. Considered the content of financial stability, represented by its own definition, we studied the basic conditions to achieve it. The logic diagram showing the location of financial stability and financial security to ensure the economic security of the business entity. A system of internal and external factors affecting the financial stability and endanger financial stability and financial security company. It has been established that it is the internal factors such as the availability of financial resources and financial position, capital structure, the company's ability to generate profits determine the level of economic security and its ability to withstand the negative impact of external and internal threats. The necessity of improving the financial sustainability in order to improve the economic security of the enterprise. On the basis of the research proposed matrix of risks affecting the financial stability and economic security, which allows to determine the probability of their occurrence and impact. It presents the economic, social, human, financial, organizational, economic, innovative and productive tools to increase the stability and financial security of an economic entity. List considered standard measures will make a plan of action to minimize the adverse impacts and enhance financial stability and security. Therefore, a prerequisite for the economic security of the enterprise is the attainment of financial stability.

  18. No saturation in the accumulation of alien species worldwide

    Science.gov (United States)

    Seebens, Hanno; Blackburn, Tim M.; Dyer, Ellie E.; Genovesi, Piero; Hulme, Philip E.; Jeschke, Jonathan M.; Pagad, Shyama; Pyšek, Petr; Winter, Marten; Arianoutsou, Margarita; Bacher, Sven; Blasius, Bernd; Brundu, Giuseppe; Capinha, César; Celesti-Grapow, Laura; Dawson, Wayne; Dullinger, Stefan; Fuentes, Nicol; Jäger, Heinke; Kartesz, John; Kenis, Marc; Kreft, Holger; Kühn, Ingolf; Lenzner, Bernd; Liebhold, Andrew; Mosena, Alexander; Moser, Dietmar; Nishino, Misako; Pearman, David; Pergl, Jan; Rabitsch, Wolfgang; Rojas-Sandoval, Julissa; Roques, Alain; Rorke, Stephanie; Rossinelli, Silvia; Roy, Helen E.; Scalera, Riccardo; Schindler, Stefan; Štajerová, Kateřina; Tokarska-Guzik, Barbara; van Kleunen, Mark; Walker, Kevin; Weigelt, Patrick; Yamanaka, Takehiko; Essl, Franz

    2017-01-01

    Although research on human-mediated exchanges of species has substantially intensified during the last centuries, we know surprisingly little about temporal dynamics of alien species accumulations across regions and taxa. Using a novel database of 45,813 first records of 16,926 established alien species, we show that the annual rate of first records worldwide has increased during the last 200 years, with 37% of all first records reported most recently (1970–2014). Inter-continental and inter-taxonomic variation can be largely attributed to the diaspora of European settlers in the nineteenth century and to the acceleration in trade in the twentieth century. For all taxonomic groups, the increase in numbers of alien species does not show any sign of saturation and most taxa even show increases in the rate of first records over time. This highlights that past efforts to mitigate invasions have not been effective enough to keep up with increasing globalization. PMID:28198420

  19. Worldwide trends in blood pressure from 1975 to 2015

    DEFF Research Database (Denmark)

    Overvad, Kim

    2017-01-01

    BACKGROUND: Raised blood pressure is an important risk factor for cardiovascular diseases and chronic kidney disease. We estimated worldwide trends in mean systolic and mean diastolic blood pressure, and the prevalence of, and number of people with, raised blood pressure, defined as systolic blood...... pressure of 140 mm Hg or higher or diastolic blood pressure of 90 mm Hg or higher. METHODS: For this analysis, we pooled national, subnational, or community population-based studies that had measured blood pressure in adults aged 18 years and older. We used a Bayesian hierarchical model to estimate trends...... from 1975 to 2015 in mean systolic and mean diastolic blood pressure, and the prevalence of raised blood pressure for 200 countries. We calculated the contributions of changes in prevalence versus population growth and ageing to the increase in the number of adults with raised blood pressure. FINDINGS...

  20. Complementarity of statstical treatments to reconstruct worldwide routes of invasion

    DEFF Research Database (Denmark)

    Lombaert, Eric; Guillemaud, Thomas; Lundgren, Jonathan

    2014-01-01

    area, necessitating the use of alternative methods and an intense sampling design. In this study, we made inferences about the worldwide invasion history of the ladybird Harmonia axyridis by various population genetics statistical methods, using a large set of sampling sites distributed over most......Inferences about introduction histories of invasive species remain challenging because of the stochastic demographic processes involved. Approximate Bayesian computation (ABC) can help to overcome these problems, but such method requires a prior understanding of population structure over the study...... of the species’ native and invaded areas. We evaluated the complementarity of the statistical methods and the consequences of using different sets of site samples for ABC inferences. We found that the H. axyridis invasion has involved two bridgehead invasive populations in North America, which have served...

  1. Ethical pharmaceutical promotion and communications worldwide: codes and regulations

    Science.gov (United States)

    2014-01-01

    The international pharmaceutical industry has made significant efforts towards ensuring compliant and ethical communication and interaction with physicians and patients. This article presents the current status of the worldwide governance of communication practices by pharmaceutical companies, concentrating on prescription-only medicines. It analyzes legislative, regulatory, and code-based compliance control mechanisms and highlights significant developments, including the 2006 and 2012 revisions of the International Federation of Pharmaceutical Manufacturers and Associations (IFPMA) Code of Practice. Developments in international controls, largely built upon long-established rules relating to the quality of advertising material, have contributed to clarifying the scope of acceptable company interactions with healthcare professionals. This article aims to provide policy makers, particularly in developing countries, with an overview of the evolution of mechanisms governing the communication practices, such as the distribution of promotional or scientific material and interactions with healthcare stakeholders, relating to prescription-only medicines. PMID:24679064

  2. No saturation in the accumulation of alien species worldwide.

    Science.gov (United States)

    Seebens, Hanno; Blackburn, Tim M; Dyer, Ellie E; Genovesi, Piero; Hulme, Philip E; Jeschke, Jonathan M; Pagad, Shyama; Pyšek, Petr; Winter, Marten; Arianoutsou, Margarita; Bacher, Sven; Blasius, Bernd; Brundu, Giuseppe; Capinha, César; Celesti-Grapow, Laura; Dawson, Wayne; Dullinger, Stefan; Fuentes, Nicol; Jäger, Heinke; Kartesz, John; Kenis, Marc; Kreft, Holger; Kühn, Ingolf; Lenzner, Bernd; Liebhold, Andrew; Mosena, Alexander; Moser, Dietmar; Nishino, Misako; Pearman, David; Pergl, Jan; Rabitsch, Wolfgang; Rojas-Sandoval, Julissa; Roques, Alain; Rorke, Stephanie; Rossinelli, Silvia; Roy, Helen E; Scalera, Riccardo; Schindler, Stefan; Štajerová, Kateřina; Tokarska-Guzik, Barbara; van Kleunen, Mark; Walker, Kevin; Weigelt, Patrick; Yamanaka, Takehiko; Essl, Franz

    2017-02-15

    Although research on human-mediated exchanges of species has substantially intensified during the last centuries, we know surprisingly little about temporal dynamics of alien species accumulations across regions and taxa. Using a novel database of 45,813 first records of 16,926 established alien species, we show that the annual rate of first records worldwide has increased during the last 200 years, with 37% of all first records reported most recently (1970-2014). Inter-continental and inter-taxonomic variation can be largely attributed to the diaspora of European settlers in the nineteenth century and to the acceleration in trade in the twentieth century. For all taxonomic groups, the increase in numbers of alien species does not show any sign of saturation and most taxa even show increases in the rate of first records over time. This highlights that past efforts to mitigate invasions have not been effective enough to keep up with increasing globalization.

  3. Retinopathy of prematurity blindness worldwide: phenotypes in the third epidemic

    Directory of Open Access Journals (Sweden)

    Quinn GE

    2016-05-01

    Full Text Available Graham E Quinn Division of Ophthalmology, The Children’s Hospital of Philadelphia, Wood Center, Philadelphia, PA, USA Abstract: Blindness due to retinopathy of prematurity (ROP is an increasing problem worldwide as improved levels of neonatal care are provided in countries with developing neonatal intensive care units. The occurrence of ROP blindness varies dramatically with the socioeconomic development of a country. In regions with high levels of neonatal care and adequate resources, ROP blindness is largely restricted to premature infants with very low birth weight and low gestational age while in middle- and low-income countries with regional variation in technology and capacity, limited health resources may well limit the care of the premature newborn. Keywords: ROP, international, blindness

  4. Robustness analysis metrics for worldwide airport network: A comprehensive study

    Directory of Open Access Journals (Sweden)

    Xiaoqian Sun

    2017-04-01

    Full Text Available Robustness of transportation networks is one of the major challenges of the 21st century. This paper investigates the resilience of global air transportation from a complex network point of view, with focus on attacking strategies in the airport network, i.e., to remove airports from the system and see what could affect the air traffic system from a passenger’s perspective. Specifically, we identify commonalities and differences between several robustness measures and attacking strategies, proposing a novel notion of functional robustness: unaffected passengers with rerouting. We apply twelve attacking strategies to the worldwide airport network with three weights, and evaluate three robustness measures. We find that degree and Bonacich based attacks harm passenger weighted network most. Our evaluation is geared toward a unified view on air transportation network attack and serves as a foundation on how to develop effective mitigation strategies.

  5. Ethical pharmaceutical promotion and communications worldwide: codes and regulations.

    Science.gov (United States)

    Francer, Jeffrey; Izquierdo, Jose Zamarriego; Music, Tamara; Narsai, Kirti; Nikidis, Chrisoula; Simmonds, Heather; Woods, Paul

    2014-03-29

    The international pharmaceutical industry has made significant efforts towards ensuring compliant and ethical communication and interaction with physicians and patients. This article presents the current status of the worldwide governance of communication practices by pharmaceutical companies, concentrating on prescription-only medicines. It analyzes legislative, regulatory, and code-based compliance control mechanisms and highlights significant developments, including the 2006 and 2012 revisions of the International Federation of Pharmaceutical Manufacturers and Associations (IFPMA) Code of Practice.Developments in international controls, largely built upon long-established rules relating to the quality of advertising material, have contributed to clarifying the scope of acceptable company interactions with healthcare professionals. This article aims to provide policy makers, particularly in developing countries, with an overview of the evolution of mechanisms governing the communication practices, such as the distribution of promotional or scientific material and interactions with healthcare stakeholders, relating to prescription-only medicines.

  6. Climate change accelerates growth of urban trees in metropolises worldwide.

    Science.gov (United States)

    Pretzsch, Hans; Biber, Peter; Uhl, Enno; Dahlhausen, Jens; Schütze, Gerhard; Perkins, Diana; Rötzer, Thomas; Caldentey, Juan; Koike, Takayoshi; Con, Tran van; Chavanne, Aurélia; Toit, Ben du; Foster, Keith; Lefer, Barry

    2017-11-13

    Despite the importance of urban trees, their growth reaction to climate change and to the urban heat island effect has not yet been investigated with an international scope. While we are well informed about forest growth under recent conditions, it is unclear if this knowledge can be simply transferred to urban environments. Based on tree ring analyses in ten metropolises worldwide, we show that, in general, urban trees have undergone accelerated growth since the 1960s. In addition, urban trees tend to grow more quickly than their counterparts in the rural surroundings. However, our analysis shows that climate change seems to enhance the growth of rural trees more than that of urban trees. The benefits of growing in an urban environment seem to outweigh known negative effects, however, accelerated growth may also mean more rapid ageing and shortened lifetime. Thus, city planners should adapt to the changed dynamics in order to secure the ecosystem services provided by urban trees.

  7. Histoplasmosis infections worldwide: thinking outside of the Ohio River valley.

    Science.gov (United States)

    Bahr, Nathan C; Antinori, Spinello; Wheat, L Joseph; Sarosi, George A

    2015-06-01

    In the United States, histoplasmosis is generally thought to occur mainly in the Ohio and Mississippi River Valleys, and the classic map of histoplasmosis distribution reflecting this is second nature to many U.S. physicians. With the advent of the HIV pandemic reports of patients with progressive disseminated histoplasmosis and AIDS came from regions of known endemicity, as well as from regions not thought to be endemic for histoplasmosis throughout the world. In addition, our expanding armamentarium of immunosuppressive medications and biologics has increased the diagnosis of histoplasmosis worldwide. While our knowledge of areas in which histoplasmosis is endemic has improved, it is still incomplete. Our contention is that physicians should consider histoplasmosis with the right constellations of symptoms in any febrile patient with immune suppression, regardless of geographic location or travel history.

  8. COMPARATIVE ANALYSIS OF E-GOVERNMENT INITIATIVES WORLDWIDE

    Directory of Open Access Journals (Sweden)

    George Schin

    2014-06-01

    Full Text Available Existing studies of e-government are mainly focused on the availability and level of complexity and customization of online services provided by public institutions at national level. This article aims at reviewing the main peculiarities of e-government initiatives developed worldwide, according to the ranking of different countries provided by 2013 International e-Government Ranking, developed by Waseda University Institute of e-Government. The main indicators embedded in this study are the following: network preparedness/infrastructure, management optimization, required interface/functioning applications, national e-government portal, e-participation/digital inclusion. Romania holds the 42 th place in this ranking, having assigned a score of 49.72/100. The results of the first survey are relevant for Romanian decision-makers in the field of e-governance, as our country needs to bridge the gaps between its e-government strategy and these of the countries included in our presentation.

  9. Prospects for high-power radioactive beam facilities worldwide

    CERN Document Server

    Nolen, Jerry A

    2003-01-01

    Advances in accelerators, targets, ion sources, and experimental instrumentation are making possible ever more powerful facilities for basic and applied research with short-lived radioactive isotopes. There are several current generation facilities, based on a variety of technologies, operating worldwide. These include, for example, those based on the in-flight method such as the recently upgraded National Superconducting Cyclotron Laboratory at Michigan State University, the facility at RIKEN in Japan, GANIL in Caen, France, and GSI in Darmstadt, Germany. Present facilities based on the Isotope-Separator On-Line method include, for example, the ISOLDE laboratory at CERN, HRIBF at Oak Ridge, and the new high-power facility ISAC at TRIUMF in Vancouver. Next-generation facilities include the Radioactive-Ion Factory upgrade of RIKEN to higher energy and intensity and the upgrade of ISAC to a higher energy secondary beam; both of these projects are in progress. A new project, LINAG, to upgrade the capabilities at...

  10. Beacons of discovery the worldwide science of particle physics

    CERN Document Server

    International Committee for Future Accelerators (ICFA)

    2011-01-01

    To discover what our world is made of and how it works at the most fundamental level is the challenge of particle physics. The tools of particle physics—experiments at particle accelerators and underground laboratories, together with observations of space—bring opportunities for discovery never before within reach. Thousands of scientists from universities and laboratories around the world collaborate to design, build and use unique detectors and accelerators to explore the fundamental physics of matter, energy, space and time. Together, in a common world-wide program of discovery, they provide a deep understanding of the world around us and countless benefits to society. Beacons of Discovery presents a vision of the global science of particle physics at the dawn of a new light on the mystery and beauty of the universe.

  11. World-wide online monitoring interface of the ATLAS experiment

    CERN Document Server

    Kolos, S; The ATLAS collaboration; Mineev, M; Hauser, R; Salnikov, A

    2014-01-01

    The ATLAS collaboration accounts for more than 3000 members located all over the world. The efficiency of the experiment can be improved allowing system experts not present on site to follow the ATLAS operations in real-time, spotting potential problems which otherwise may remain unattended for a non-negligible time. Taking into account the wide geographical spread of the ATLAS collaboration, the solution of this problem is to have all monitoring information with minimal access latency available world-wide. We have implemented a framework which defines a standard approach for retrieving arbitrary monitoring information from the ATLAS private network via HTTP. An information request is made by specifying one of the predefined URLs with some optional parameters refining data which has to be shipped back in XML format. The framework takes care of receiving, parsing and forwarding such requests to the appropriate plugins. The plugins retrieve the requested data and convert it to XML (or optionally to JSON) format...

  12. Assessing Impacts of Climate Change on Food Security Worldwide

    Science.gov (United States)

    Rosenzweig, Cynthia E.; Antle, John; Elliott, Joshua

    2015-01-01

    The combination of a warming Earth and an increasing population will likely strain the world's food systems in the coming decades. Experts involved with the Agricultural Model Intercomparison and Improvement Project (AgMIP) focus on quantifying the changes through time. AgMIP, a program begun in 2010, involves about 800 climate scientists, economists, nutritionists, information technology specialists, and crop and livestock experts. In mid-September 2015, the Aspen Global Change Institute convened an AgMIP workshop to draft plans and protocols for assessing global- and regional-scale modeling of crops, livestock, economics, and nutrition across major agricultural regions worldwide. The goal of this Coordinated Global and Regional Integrated Assessments (CGRA) project is to characterize climate effects on large- and small-scale farming systems.

  13. Worldwide pattern of antibiotic prescription in endodontic infections.

    Science.gov (United States)

    Segura-Egea, Juan José; Martín-González, Jenifer; Jiménez-Sánchez, María Del Carmen; Crespo-Gallardo, Isabel; Saúco-Márquez, Juan José; Velasco-Ortega, Eugenio

    2017-08-01

    Odontogenic infections, and especially endodontic infections, are polymicrobial, involving a combination of Gram-positive and Gram-negative facultative anaerobes and strictly anaerobic bacteria. Therefore, antibiotics can be used as an adjunct to endodontic treatment. However, most chronic and even acute endodontic infections can be successfully managed by disinfection of the root-canal system, which eliminates the source of infection, followed by abscess drainage or tooth extraction, without the need for antibiotics. The literature provides evidence of inadequate prescribing practices by dentists. The aim of this concise review was to analyse the worldwide pattern of antibiotic prescription in endodontic infections. Comprehensive searches were conducted in MEDLINE/PubMed, Wiley Online Database, Web of Science and Scopus. The databases were searched up to 13 March 2016 for studies in which dentists used systemic antibiotics to treat endodontic lesions and which reported data on the type of antibiotic prescribed and on the diagnosis of the endodontic disease treated. The electronic and hand searches identified 69 titles, of which 25 were included in the final analysis. Amoxicillin was reported as the drug of choice for endodontic infections in most countries, and clindamycin and erythromycin were the choice for patients allergic to penicillin. Dentists worldwide prescribe antibiotics for non-indicated conditions, such as pulpitis. Antibiotics are overprescribed for the management of endodontic infections. It is necessary to improve antibiotic-prescribing habits in the treatment of endodontic infections, as well as to introduce educational initiatives to encourage the coherent and proper use of antibiotics in such conditions. © 2017 FDI World Dental Federation.

  14. Making environmental assessments of biomass production systems comparable worldwide

    Science.gov (United States)

    Meyer, Markus A.; Seppelt, Ralf; Witing, Felix; Priess, Joerg A.

    2016-03-01

    Global demand for agricultural and forestry products fundamentally affects regional land-use change associated with environmental impacts (EIs) such as erosion. In contrast to aggregated global metrics such as greenhouse gas (GHG) balances, local/regional EIs of different agricultural and forestry production regions need methods which enable worldwide EI comparisons. The key aspect is to control environmental heterogeneity to reveal man-made differences of EIs between production regions. Environmental heterogeneity is the variation in biotic and abiotic environmental conditions. In the present study, we used three approaches to control environmental heterogeneity: (i) environmental stratification, (ii) potential natural vegetation (PNV), and (iii) regional environmental thresholds to compare EIs of solid biomass production. We compared production regions of managed forests and plantation forests in subtropical (Satilla watershed, Southeastern US), tropical (Rufiji basin, Tanzania), and temperate (Mulde watershed, Central Germany) climates. All approaches supported the comparison of the EIs of different land-use classes between and within production regions. They also standardized the different EIs for a comparison between the EI categories. The EIs for different land-use classes within a production region decreased with increasing degree of naturalness (forest, plantation forestry, and cropland). PNV was the most reliable approach, but lacked feasibility and relevance. The PNV approach explicitly included most of the factors that drive environmental heterogeneity in contrast to the stratification and threshold approaches. The stratification approach allows consistent global application due to available data. Regional environmental thresholds only included arbitrarily selected aspects of environmental heterogeneity; they are only available for few EIs. Especially, the PNV and stratification approaches are options to compare regional EIs of biomass or crop production

  15. Critical care nursing organizations and activities: a fourth worldwide review.

    Science.gov (United States)

    Williams, G; Fulbrook, P; Kleinpell, R; Schmollgruber, S; Alberto, L

    2015-12-01

    To examine the activities and concerns of critical care nurses and professional critical care nursing organizations around the world and to identify expectations held of nursing leaders and policy makers to help address their concerns. This study is the fourth worldwide review of its type. Previous surveys were undertaken in 2001, 2005 and 2009. An online descriptive survey was emailed to 88 potential participants from countries with critical care nursing organizations or known critical care nursing leaders. Responses were downloaded into Survey Monkey™ (Version 22) and analysed by geographical region and income level. Fifty-nine respondents from 58 countries completed the questionnaire, of whom 43 had critical care nursing organizations established in their countries and 29 were members of the World Federation of Critical Care Nurses. The services provided by the organizations to be of most value were national conferences, website, professional representation, and practice standards and guidelines. Professional policies had been developed by some organizations on workforce, education and practice, while almost half provided their members with either a newsletter or journal. Collectively, the most important issues for critical care nurses were working conditions, provision of formal practice guidelines and competencies, staffing levels and access to quality education programmes. Important issues continue to challenge the specialty of critical care nursing as new developments, priorities, clinical issues and other global events and influences impact critical care nursing worldwide. This study will help guide nursing leaders and policy makers to address the needs of critical care nurses and their patients. Collaborative approaches between the specialty, nursing leaders and health policy advisors will assist to inform appropriate change in areas recommended for further action. © 2015 International Council of Nurses.

  16. Hysteroscopic sterilization: 10-year retrospective analysis of worldwide pregnancy reports.

    Science.gov (United States)

    Munro, M G; Nichols, J E; Levy, B; Vleugels, M P H; Veersema, S

    2014-01-01

    To identify factors that might contribute to pregnancies reported after hysteroscopic sterilization worldwide. Retrospective review of commercial data compiled from the MAUDE database, medical literature, and manufacturer reports received during commercial distribution of hysteroscopic sterilization micro-inserts from 2001 through 2010 (Canadian Taskforce classification III descriptive study). From 2001 through 2010, 497 305 hysteroscopic sterilization kits were distributed worldwide, and 748 pregnancies were reported, i.e., 0.15% of the estimated user population based on the number of distributed kits. The data were sufficient to enable analysis of 508 pregnancies for potential contributing factors and showed most to be associated with patient or physician noncompliance (n = 264) or misinterpreted confirmation tests (n = 212). Conceptions deemed to have occurred within 2 weeks of the procedure and therefore too early for detection were identified in 32 cases. Although there are limitations to the dataset and the study design is retrospective, it represents the largest body of cumulative hysteroscopic sterilization data available to date. Of the 748 pregnancies reported, it is apparent that some might have been prevented with greater patient and clinician attention to interim contraceptive use and counseling and with more rigorous evaluation and informed interpretation of the procedure confirmation tests. Although the estimated pregnancy rate based on such a dataset is likely an underestimation, it does suggest that the evaluable field performance of hysteroscopic sterilization micro-inserts is consistent with the labeled age-adjusted effectiveness of 99.74% at 5 years. Copyright © 2014 AAGL. Published by Elsevier Inc. All rights reserved.

  17. Three Essays on Financial Economics

    DEFF Research Database (Denmark)

    Park, Kay Sun

    Practitioners in finance have been trying to either maximize their fortunes or minimize any unlucky outcomes;say, Beat the market. The uncertainty is always something to fear or to overcome in financial market in order to beat the market. The price of assets seems unpredictable in a short......-time interval, though academics consider market price would stay at equilibrium in the long-run, as reflecting fundamentals in the end. As “Efficiency of Financial Market” says; price of assets reveals all relevant information. The continuous-time random walk is successfully taken as close as tracking down...... the asset price movements. Moreover, a regime-switching between good versus bad state abruptly occurs over the business cycle (or the financial cycle). Hence, two key theoretical devices used to model risk in finance are first, to acknowledge that we see the movements of asset price micmic a random walk...

  18. FINANCIAL STABILITY - A THEORETICAL APPROACH

    Directory of Open Access Journals (Sweden)

    Maria Vasilescu

    2012-03-01

    Full Text Available Central banks have become poles of stability and decisive factors of globalization. Financialstability represents a national issue, a public asset, that requires both an intervention of public judicious authoritiesand their cooperation with private sector. Given the integration of financial markets during the last decades in bothdeveloped and developing countries, as direct result of globalization, liberalization and deregulation processes, andthe high degree of innovation they felt over time, a shift in market participants’ perceptions on the importance ofstable financial systems in economic growth arose. The global context characterized by the interdependence ofmarkets and institutions, emergence of new techniques and instruments, increasing international capital flowsstressed the new meanings of the analysis of financial stability.

  19. Evolvement of uniformity and volatility in the stressed global financial village.

    Science.gov (United States)

    Kenett, Dror Y; Raddant, Matthias; Lux, Thomas; Ben-Jacob, Eshel

    2012-01-01

    In the current era of strong worldwide market couplings the global financial village became highly prone to systemic collapses, events that can rapidly sweep throughout the entire village. We present a new methodology to assess and quantify inter-market relations. The approach is based on the correlations between the market index, the index volatility, the market Index Cohesive Force and the meta-correlations (correlations between the intra-correlations.) We investigated the relations between six important world markets--U.S., U.K., Germany, Japan, China and India--from January 2000 until December 2010. We found that while the developed "western" markets (U.S., U.K., Germany) are highly correlated, the interdependencies between these markets and the developing "eastern" markets (India and China) are volatile and with noticeable maxima at times of global world events. The Japanese market switches "identity"--it switches between periods of high meta-correlations with the "western" markets and periods when it behaves more similarly to the "eastern" markets. The methodological framework presented here provides a way to quantify the evolvement of interdependencies in the global market, evaluate a world financial network and quantify changes in the world inter market relations. Such changes can be used as precursors to the agitation of the global financial village. Hence, the new approach can help to develop a sensitive "financial seismograph" to detect early signs of global financial crises so they can be treated before they develop into worldwide events.

  20. Financial and Non-financial Institutions and Small Business ...

    African Journals Online (AJOL)

    The two important ingredients for business development are finance and skill. Small business enterprises in most countries suffer from financial constraints and lack of entrepreneurial skill. There has been a crucial lack of business start-up training in Botswana, which has led to small business failures. The study covered fifty ...

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

    African Journals Online (AJOL)

    In Africa financial systems have been shackled with extensive, imprudent regulations operated on inefficient grounds and dominated by few institutions, mainly state commercial banks. Common among most of these systems have been controls on interest rates; extensive government borrowing; directed lending and ...

  2. The global financial crisis and national financial systems survival ...

    African Journals Online (AJOL)

    This paper focuses on global financial crisis and its implications on the economy of nations. The questions asked to which answers were given among others include: Is the globalization of finance profitable against the backdrop of the failure of banking institutions in the United States of America that has snowballed into a ...

  3. The usage of financial derivatives in financial risk management by non- financial companies in Serbia

    Directory of Open Access Journals (Sweden)

    Živanović Branko

    2017-01-01

    Full Text Available In this paper we analyse the research results on corporate risk management practices, notably in light of the derivatives use in the large Serbian non-financial companies. The principal aim of this paper is to examine whether Serbian companies employ derivatives to manage risk and to what degree, and to explore the main rationale behind the companies' not employing these instruments, as well as to suggest possible enhancements of risk management practices. Furthermore, we have investigated the key reasons why financial derivatives are very useful for Serbian companies for hedging financial risks. Additionally, this paper provides a comparative overview of the use of derivatives between Serbian companies and the companies in Croatia and Slovenia in order to ascertain whether Serbian companies employ derivatives in order to manage risk to the same degree as their Croatian and Slovenian counterparts. This paper will include findings and provide evidence that FX rate and referent interest rates (such as 1w- 2w repo rate, Beonia and Belibor are markedly volatile, which opens vast possibilities for the use of financial derivatives, given that these financial parameters determine the price of a credit arrangement for companies and the quality of import and export cash flows.

  4. The Financial Health of Mental Health Professionals

    Directory of Open Access Journals (Sweden)

    Sonya L. Britt

    2015-07-01

    Full Text Available Recent research has suggested that mental health professionals may be at greater risk of endorsing money scripts associated with lower income, lower net worth, and problematic financial behaviors. This study more closely examined the financial health of mental health professionals using the Klontz-Britt Financial Health Scale (FHS. Data was collected from 264 individuals recruited through financial seminars given by the researchers and through social media. Results indicated that when compared to other occupations, mental health professionals report significantly lower levels of financial health. Regardless of occupation, money status and money worship scripts were associated with lower levels of financial health, while money vigilance scripts were associated with higher levels of financial health. These results are of interest to financial counselors and educators to inform their work with those in the mental health profession who may be at greater risk of lower financial health.

  5. Smoking Habits among Greek University Students after the Financial Crisis

    Science.gov (United States)

    Saridi, Maria; Nanou, Anastasia; Vasilopoulos, Christos; Kourakos, Michael; Skliros, Efstathios; Toska, Aikaterini; Souliotis, Kyriakos

    2017-05-01

    Background: University students worldwide seem to have increased rates of smoking, alcohol abuse, binge drinking episodes and harmful consumption trends, raising a serious public health issue. The aim of the present study was to investigate university students’ smoking habits and exposure to secondary smoke amid a financial crisis. Methods: The present descriptive, correlational analysis was conducted at the University of Peloponnese. Results: The average age of the sample (n=203) was 24.9 years (±7.6 years) with 36.0% of the participants (n=73) being postgraduate students. Some 51.2% (n=104) of the participants said they didn’t smoke and 46.3% (n=94, p=0.003) reported no secondary smoke exposure during the past week at home. The majority of the remainder initiated smoking at age 16-17 (48.5%, n=48), and 64.6% (n=42) said the financial crisis did not lead them to change their smoking habits. Conclusions: The majority of students support smoking ban laws in enclosed public spaces, but also their replies highlighted poor implementation on behalf of the state and the authorities. The financial crisis did not appear to have affected student smoking habits. Creative Commons Attribution License

  6. Impact of new financial products on Financial performance of Public Sector Banks in India

    OpenAIRE

    Chintala Balaji; Dr. G. Praveen Kumar

    2012-01-01

    In this paper, we analyze the performance of public sector banks in India during the period 1999-2000 to 2008-09. This period covers the old financial products period and new financial products period. Specifically, the paper examines the impact of new financial products on financial performance of public sector banks in India. The empirical results show that impact of new financial product on public sector banks has intensified. The financial performance of public sector banks is greater in ...

  7. Training of Financial Technology Specialists with RTU Bachelor Program in "Financial Engineering"

    OpenAIRE

    Matvejevs, A; Pavļenko, O

    2014-01-01

    The combination of financial theory, mathematics and computer technology has led to the emergence of a new profession: Financial Engineering. Financial engineers apply advanced economics theory, recent mathematical methods and computer technology to financial markets and financial management. The program of professional studies in Financial Engineering has been running at the Faculty of Computer Science and Information Technology, Riga Technical University since 2009/2010 academic year. It is...

  8. Worldwide seismicity in view of non-extensive statistical physics

    Science.gov (United States)

    Chochlaki, Kaliopi; Vallianatos, Filippos; Michas, George

    2014-05-01

    In the present work we study the distribution of worldwide shallow seismic events occurred from 1981 to 2011 extracted from the CMT catalog, with magnitude equal or greater than Mw 5.0. Our analysis based on the subdivision of the Earth surface into seismic zones that are homogeneous with regards to seismic activity and orientation of the predominant stress field. To this direction we use the Flinn-Engdahl regionalization (Flinn and Engdahl, 1965), which consists of 50 seismic zones as modified by Lombardi and Marzocchi (2007), where grouped the 50 FE zones into larger tectonically homogeneous ones, utilizing the cumulative moment tensor method. As a result Lombardi and Marzocchi (2007), limit the initial 50 regions to 39 ones, in which we apply the non- extensive statistical physics approach. The non-extensive statistical physics seems to be the most adequate and promising methodological tool for analyzing complex systems, such as the Earth's interior. In this frame, we introduce the q-exponential formulation as the expression of probability distribution function that maximizes the Sq entropy as defined by Tsallis, (1988). In the present work we analyze the interevent time distribution between successive earthquakes by a q-exponential function in each of the seismic zones defined by Lombardi and Marzocchi (2007).confirming the importance of long-range interactions and the existence of a power-law approximation in the distribution of the interevent times. Our findings supports the ideas of universality within the Tsallis approach to describe Earth's seismicity and present strong evidence on temporal clustering of seismic activity in each of the tectonic zones analyzed. Our analysis as applied in worldwide seismicity with magnitude equal or greater than Mw 5.5 and 6.) is presented and the dependence of our result on the cut-off magnitude is discussed. This research has been funded by the European Union (European Social Fund) and Greek national resources under the

  9. Major Seagrass Carbon Sinks Worldwide, Shark Bay, Western Australia

    Science.gov (United States)

    Arias-Ortiz, A.; Serrano, O.; Masque, P.; Lavery, P.; Duarte, C. M.; Kendrick, G. A.

    2016-02-01

    Seagrasses are marine foundation species that provide valuable ecosystem services including the stabilization of sediment, carbon dioxide sequestration, and habitat for diverse fauna and flora. Shark Bay, Western Australia, registered as a World Heritage Property, has the largest reported assemblage of seagrass meadows worldwide, thus has an important role in producing, sequestering and storing organic carbon (Corg). We surveyed 30 seagrass meadows in Shark Bay accounting for species composition, seagrass contribution to the sedimentary Corg pool, and habitat variability. The sediment accumulation rates (SAR) and Corg accumulation over short and long terms were determined by means of 210Pb and 14C dating. Sediment grain size was used to characterize sedimentary environments and δ13C analyses to determine the sources of sedimentary Corg stocks in each meadow. Corg stocks accumulated in the last century varied from 0.4 to 4.5 kg Corg m-2, with an average burial rate of 24 ± 11 g Corg m-2 y-1 (10 - 20 cm-thick deposits). Stocks in the top meter ranged from 4 to 30 kg Corg m-2, which is equivalent to a long-term carbon burial rate averaging 8 ± 5 g Corg m-2 y-1 (over the last millennia). With an area of 4,000 km2, seagrass meadows in Shark Bay store the vast amount of 45 ± 23 Tg Corg in the top meter, which would represent about 1% of the Corg stored in seagrass meadows worldwide. Spatial and temporal variability in Corg storage results from various factors, including biological (e.g. net primary production), chemical (e.g. recalcitrance of Corg stocks) and geological (e.g. hydrodynamic energy and sediment accumulation rates). Higher SAR and smaller sediment size appeared to contribute to a higher accumulation and preservation of Corg. Moreover, sediments with highest Corg stocks were characterized by high δ13C, suggesting that the plant itself plays a key role in Corg storage. These findings combined with sediment chronologies help us to understand the formation

  10. Financial Fraud and Child Abuse

    Science.gov (United States)

    Little, Allison Dare

    2014-01-01

    A modern form of abuse of children by parents and foster parents is to use the identity of children in their care for their own financial benefit, such as accessing their unused social security numbers to secure credit. This article reviews examples and implications of this identity theft.

  11. Regional Inflation and Financial Dollarization

    NARCIS (Netherlands)

    Brown, M.; de Haas, R.; Sokolov, V.

    2013-01-01

    Abstract: We exploit variation in consumer price inflation across 71 Russian regions to examine the relationship between the perceived stability of the local currency and financial dollarization. Our results show that regions with higher inflation experience an increase in the dollarization of

  12. Masculinity, testosterone, and financial misreporting

    NARCIS (Netherlands)

    Jia, Y.; van Lent, L.A.G.M.; Zeng, Y.

    2014-01-01

    We examine the relation between a measure of male CEOs’ facial masculinity and financial misreporting. Facial masculinity is associated with a complex of masculine behaviors (including aggression, egocentrism, risk-seeking, and maintenance of social status) in males. One possible mechanism for this

  13. Financial planning for young households

    DEFF Research Database (Denmark)

    Pedersen, Anne Marie Boiden; Weissensteiner, Alex; Poulsen, Rolf

    2013-01-01

    We analyze the financial planning problems of young households whose main decisions are how to finance the purchase of a house (liabilities) and how to allocate investments in pension savings schemes (assets). The problems are solved using a multi-stage stochastic programming model where...

  14. Financial Planning with Fractional Goals

    NARCIS (Netherlands)

    M.H. Goedhart; J. Spronk (Jaap)

    1995-01-01

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

  15. Financial Management in School Administration.

    Science.gov (United States)

    Tronc, Keith, Ed.

    Because Australian school principals are being given increasing autonomy, knowledge of basic accounting principles and skill in elementary financial management are becoming more necessary. This book attempts to supply school administrators with information needed to handle new accounting duties and to lay a foundation for future fuller involvement…

  16. Nigeria : Country Financial Accountability Assessment

    OpenAIRE

    World Bank

    2000-01-01

    The Federal Government of Nigeria retains the vestiges of good systems for planning, budgeting, managing and controlling public resources. But their performance has deteriorated to such an extent that they provide negligible assurance that moneys are used entirely for their intended purpose. The same is true at the state level. To return to an acceptable level of financial accountability w...

  17. Financial incentives and weight control.

    Science.gov (United States)

    Jeffery, Robert W

    2012-11-01

    This paper reviews research studies evaluating the use of financial incentives to promote weight control conducted between 1972 and 2010. It provides an overview of behavioral theories pertaining to incentives and describes empirical studies evaluating specific aspects of incentives. Research on financial incentives and weight control has a history spanning more than 30 years. Early studies were guided by operant learning concepts from Psychology, while more recent studies have relied on economic theory. Both theoretical orientations argue that providing financial rewards for losing weight should motivate people to engage in behaviors that produce weight loss. Empirical research has strongly supported this idea. However, results vary widely due to differences in incentive size and schedule, as well as contextual factors. Thus, many important questions about the use of incentives have not yet been clearly answered. Weight-maintenance studies using financial incentives are particularly sparse, so that their long-term efficacy and thus, value in addressing the public health problem of obesity is unclear. Major obstacles to sustained applications of incentive in weight control are funding sources and acceptance by those who might benefit. Copyright © 2011 Elsevier Inc. All rights reserved.

  18. Financial value-chain analysis

    NARCIS (Netherlands)

    Duijn, van A.P.; Beukers, R.; Cowan, Roberta B.; Judge, L.O.; Pijl, van der Willem; Römgens, Indra; Scheele, Fleur; Steinweg, Tim

    2016-01-01

    This study is a detailed analysis of which parts of the tuna, shrimp, soy and beef supply chains are most open to constructive engagement through financial vehicles and mechanisms. The study indentifies the largest market shares in the various supply chains. For the retail sector, the objective was

  19. Heterogeneous agents in financial markets

    NARCIS (Netherlands)

    Zwinkels, R.C.J.

    2009-01-01

    In the previous decades, evidence against the efficient market hypothesis has been mounting. As a result, the behavioral finance literature has emerged, which embeds psychological influences in financial economics. The current thesis fits within the behavioral finance literature, and is focused on

  20. An introduction to financial mathematics

    OpenAIRE

    Mármol, Maite

    2016-01-01

    The present document includes the slides used in the course Mathematics For Finance (International Business and Business Administration and Management). The course content is divided into five units: “Introduction: Some general ideas”, “Financial arrangements”, “Annuities”, “Loans” and “Bonds”

  1. Financial Network Systemic Risk Contributions

    NARCIS (Netherlands)

    Hautsch, N.; Schaumburg, J.; Schienle, M.

    2015-01-01

    We propose the realized systemic risk beta as a measure of financial companies' contribution to systemic risk, given network interdependence between firms' tail risk exposures. Conditional on statistically pre-identified network spillover effects and market and balance sheet information, we define

  2. Characterizing Financial and Statistical Literacy

    DEFF Research Database (Denmark)

    Di Girolamo, Amalia; Harrison, Glenn W.; Lau, Morten

    We characterize the literacy of an individual in a domain by their elicited subjective belief distribution over the possible responses to a question posed in that domain. We consider literacy across several financial, economic and statistical domains. We find considerable demographic heterogeneity...

  3. Geographies of the financial crisis

    NARCIS (Netherlands)

    Aalbers, M.

    2009-01-01

    Real estate is, by definition, local as it is spatially fixed. Mortgage lending, however, has developed from a local to a national market and is increasingly a global market today. An understanding of the financial crisis is ultimately a spatialised understanding of the linkages between local and

  4. Financial Handbook for Parent Associations.

    Science.gov (United States)

    New York City Parent Foundations, Brooklyn, NY.

    This handbook is designed to aid parent associations in the New York City schools to better manage their financial responsibilities. After discussing the nature of Budget and Audit Committees, the handbook stresses the need for a budget and the items to be included in it. The areas of management, recordkeeping, and auditing are delineated. (WP)

  5. World-wide parliamentarians join forces to resolve population problems.

    Science.gov (United States)

    1979-01-01

    Subjects selected for discussion at the International Conference on Population and Development held from August 28 to September 1, 1979 included world population trends and prospects; government laws and policies; the status of women in family law, literacy and health; employment policies, rural to urban migration and appropriate technology; economic growth with equity and a new economic order; environmental impact and world resources; community participation in motivation and service delivery programs; international coordination of donor policies; research priorities; and governmental responsibilities. The following were among the specific objectives and goals identified: 1) formulate population policies as an integral part of socioeconomic development plans; 2) examine the impact of domestic population trends on health, education, employment, agricultural and industrial development, housing and environmental conditions; 3) strengthen the integration of population programs in all development activities; 4) ensure the basic right of people to decide the number and spacing of their children and ensure that they have the information and means to do so; and 5) promote the role and status of women in the family and society and enhance their access to education, employment, health services and financial credit. A strong commitment was made for implementation of population policies as an integral part of socioeconomic development plans.

  6. Risk Management Disclosure In Malaysian Islamic Financial Institutions: Pre- And Post-Financial Crisis

    National Research Council Canada - National Science Library

    Rosnadzirah Ismail; Rashidah Abdul Rahman; Normah Ahmad

    2013-01-01

    .... Conventional financial institutions have widely practiced risk management within their organization, but it is still under-developed in Islamic financial institutions due to new emerging market...

  7. Prevalence of scabies and impetigo worldwide: a systematic review.

    Science.gov (United States)

    Romani, Lucia; Steer, Andrew C; Whitfeld, Margot J; Kaldor, John M

    2015-08-01

    Scabies is a skin disease that, through secondary bacterial skin infection (impetigo), can lead to serious complications such as septicaemia, renal disease, and rheumatic heart disease. Yet the worldwide prevalence of scabies is uncertain. We undertook a systematic review, searching several databases and the grey literature, for population-based studies that reported on the prevalence of scabies and impetigo in a community setting. All included studies were assessed for quality. 2409 articles were identified and 48 studies were included. Data were available for all regions except North America. The prevalence of scabies ranged from 0·2% to 71·4%. All regions except for Europe and the Middle East included populations with a prevalence greater than 10%. Overall, scabies prevalence was highest in the Pacific and Latin American regions, and was substantially higher in children than in adolescents and adults. Impetigo was common, particularly in children, with the highest prevalence in Australian Aboriginal communities (49·0%). Comprehensive scabies control strategies are urgently needed, such as a community-based mass drug administration approach, along with a more systematic approach to the monitoring of disease burden. Copyright © 2015 Elsevier Ltd. All rights reserved.

  8. Diagnosis and Treatment of Urticaria and Angioedema: A Worldwide Perspective

    Science.gov (United States)

    2012-01-01

    Urticaria and angioedema are common clinical conditions representing a major concern for physicians and patients alike. The World Allergy Organization (WAO), recognizing the importance of these diseases, has contributed to previous guidelines for the diagnosis and management of urticaria. The Scientific and Clinical Issues Council of WAO proposed the development of this global Position Paper to further enhance the clinical management of these disorders through the participation of renowned experts from all WAO regions of the world. Sections on definition and classification, prevalence, etiology and pathogenesis, diagnosis, treatment, and prognosis are based on the best scientific evidence presently available. Additional sections devoted to urticaria and angioedema in children and pregnant women, quality of life and patient-reported outcomes, and physical urticarias have been incorporated into this document. It is expected that this article will supplement recent international guidelines with the contribution of an expert panel designated by the WAO, increasing awareness of the importance of urticaria and angioedema in medical practice and will become a useful source of information for optimum patient management worldwide. PMID:23282382

  9. Geological problems in radioactive waste isolation - second worldwide review

    Energy Technology Data Exchange (ETDEWEB)

    Witherspoon, P.A. [ed.

    1996-09-01

    The first world wide review of the geological problems in radioactive waste isolation was published by Lawrence Berkeley National Laboratory in 1991. This review was a compilation of reports that had been submitted to a workshop held in conjunction with the 28th International Geological Congress that took place July 9-19, 1989 in Washington, D.C. Reports from 15 countries were presented at the workshop and four countries provided reports after the workshop, so that material from 19 different countries was included in the first review. It was apparent from the widespread interest in this first review that the problem of providing a permanent and reliable method of isolating radioactive waste from the biosphere is a topic of great concern among the more advanced, as well as the developing, nations of the world. This is especially the case in connection with high-level waste (HLW) after its removal from nuclear power plants. The general concensus is that an adequate isolation can be accomplished by selecting an appropriate geologic setting and carefully designing the underground system with its engineered barriers. This document contains the Second Worldwide Review of Geological Problems in Radioactive Waste Isolation, dated September 1996.

  10. Worldwide Mycotoxins Exposure in Pig and Poultry Feed Formulations.

    Science.gov (United States)

    Guerre, Philippe

    2016-11-24

    The purpose of this review is to present information about raw materials that can be used in pig and poultry diets and the factors responsible for variations in their mycotoxin contents. The levels of mycotoxins in pig and poultry feeds are calculated based on mycotoxin contamination levels of the raw materials with different diet formulations, to highlight the important role the stage of production and the raw materials used can have on mycotoxins levels in diets. Our analysis focuses on mycotoxins for which maximum tolerated levels or regulatory guidelines exist, and for which sufficient contamination data are available. Raw materials used in feed formulation vary considerably depending on the species of animal, and the stage of production. Mycotoxins are secondary fungal metabolites whose frequency and levels also vary considerably depending on the raw materials used and on the geographic location where they were produced. Although several reviews of existing data and of the literature on worldwide mycotoxin contamination of food and feed are available, the impact of the different raw materials used on feed formulation has not been widely studied.

  11. Worldwide genetic structure in 37 genes important in telomere biology

    Science.gov (United States)

    Mirabello, L; Yeager, M; Chowdhury, S; Qi, L; Deng, X; Wang, Z; Hutchinson, A; Savage, S A

    2012-01-01

    Telomeres form the ends of eukaryotic chromosomes and are vital in maintaining genetic integrity. Telomere dysfunction is associated with cancer and several chronic diseases. Patterns of genetic variation across individuals can provide keys to further understanding the evolutionary history of genes. We investigated patterns of differentiation and population structure of 37 telomere maintenance genes among 53 worldwide populations. Data from 898 unrelated individuals were obtained from the genome-wide scan of the Human Genome Diversity Panel (HGDP) and from 270 unrelated individuals from the International HapMap Project at 716 single-nucleotide polymorphism (SNP) loci. We additionally compared this gene set to HGDP data at 1396 SNPs in 174 innate immunity genes. The majority of the telomere biology genes had low to moderate haplotype diversity (45–85%), high ancestral allele frequencies (>60%) and low differentiation (FST HapMap 3. TERT had higher than expected levels of haplotype diversity, likely attributable to a lack of linkage disequilibrium, and a potential cancer-associated SNP in this gene, rs2736100, varied substantially in genotype frequency across major continental regions. It is possible that the genes under selection could influence telomere biology diseases. As a group, there appears to be less diversity and differentiation in telomere biology genes than in genes with different functions, possibly due to their critical role in telomere maintenance and chromosomal stability. PMID:21731055

  12. Worldwide Mycotoxins Exposure in Pig and Poultry Feed Formulations

    Directory of Open Access Journals (Sweden)

    Philippe Guerre

    2016-11-01

    Full Text Available The purpose of this review is to present information about raw materials that can be used in pig and poultry diets and the factors responsible for variations in their mycotoxin contents. The levels of mycotoxins in pig and poultry feeds are calculated based on mycotoxin contamination levels of the raw materials with different diet formulations, to highlight the important role the stage of production and the raw materials used can have on mycotoxins levels in diets. Our analysis focuses on mycotoxins for which maximum tolerated levels or regulatory guidelines exist, and for which sufficient contamination data are available. Raw materials used in feed formulation vary considerably depending on the species of animal, and the stage of production. Mycotoxins are secondary fungal metabolites whose frequency and levels also vary considerably depending on the raw materials used and on the geographic location where they were produced. Although several reviews of existing data and of the literature on worldwide mycotoxin contamination of food and feed are available, the impact of the different raw materials used on feed formulation has not been widely studied.

  13. Strengthening the prevention and care of injuries worldwide.

    Science.gov (United States)

    Mock, Charles; Quansah, Robert; Krishnan, Rajam; Arreola-Risa, Carlos; Rivara, Frederick

    2004-06-26

    The global burden of injuries is enormous, but has often been overlooked in attempts to improve health. We review measures that would strengthen existing efforts to prevent and treat injuries worldwide. Scientifically-based efforts to understand risk factors for the occurrence of injury are needed and they must be translated into prevention programmes that are well designed and assessed. Areas for potential intervention include environmental modification, improved engineering features of motor vehicle and other products, and promotion of safe behaviours through social marketing, legislation, and law enforcement. Treatment efforts need to better define the most high-yield services and to promote these in the form of essential health services. To achieve these changes, there is a need to strengthen the capacity of national institutions to do research on injury control; to design and implement countermeasures that address injury risk factors and deficiencies in injury treatment; and to assess the effectiveness of such countermeasures. Although much work remains to be done in high-income countries, even greater attention is needed in less-developed countries, where injury rates are higher, few injury control activities have been undertaken, and where most of the world's population lives. In almost all areas, injury rates are especially high in the most vulnerable sections of the community, including those of low socioeconomic status. Injury control activities should, therefore, be undertaken in a context of attention to human rights and other broad social issues.

  14. Canine parvovirus: the worldwide occurrence of antigenic variants.

    Science.gov (United States)

    Miranda, Carla; Thompson, Gertrude

    2016-09-01

    The most important enteric virus infecting canids is canine parvovirus type 2 (CPV-2). CPV is the aetiologic agent of a contagious disease, mainly characterized by clinical gastroenteritis signs in younger dogs. CPV-2 emerged as a new virus in the late 1970s, which could infect domestic dogs, and became distributed in the global dog population within 2 years. A few years later, the virus's original type was replaced by a new genetic and antigenic variant, called CPV-2a. Around 1984 and 2000, virus variants with the single change to Asp or Glu in the VP2 residue 426 were detected (sometimes termed CPV-2b and -2c). The genetic and antigenic changes in the variants have also been correlated with changes in their host range; in particular, in the ability to replicate in cats and also host range differences in canine and other tissue culture cells. CPV-2 variants have been circulating among wild carnivores and have been well-documented in several countries around the world. Here, we have reviewed and summarized the current information about the worldwide distribution and evolution of CPV-2 variants since they emerged, as well as the host ranges they are associated with.

  15. Castor bean organelle genome sequencing and worldwide genetic diversity analysis.

    Directory of Open Access Journals (Sweden)

    Maximo Rivarola

    Full Text Available Castor bean is an important oil-producing plant in the Euphorbiaceae family. Its high-quality oil contains up to 90% of the unusual fatty acid ricinoleate, which has many industrial and medical applications. Castor bean seeds also contain ricin, a highly toxic Type 2 ribosome-inactivating protein, which has gained relevance in recent years due to biosafety concerns. In order to gain knowledge on global genetic diversity in castor bean and to ultimately help the development of breeding and forensic tools, we carried out an extensive chloroplast sequence diversity analysis. Taking advantage of the recently published genome sequence of castor bean, we assembled the chloroplast and mitochondrion genomes extracting selected reads from the available whole genome shotgun reads. Using the chloroplast reference genome we used the methylation filtration technique to readily obtain draft genome sequences of 7 geographically and genetically diverse castor bean accessions. These sequence data were used to identify single nucleotide polymorphism markers and phylogenetic analysis resulted in the identification of two major clades that were not apparent in previous population genetic studies using genetic markers derived from nuclear DNA. Two distinct sub-clades could be defined within each major clade and large-scale genotyping of castor bean populations worldwide confirmed previously observed low levels of genetic diversity and showed a broad geographic distribution of each sub-clade.

  16. Worldwide dispersion and deposition of radionuclides produced in atmospheric tests.

    Science.gov (United States)

    Bennett, Burton G

    2002-05-01

    Radionuclides produced in atmospheric nuclear tests were widely dispersed in the global environment. From the many measurements of the concentrations in air and the deposition amounts, much was learned of atmospheric circulation and environmental processes. Based on these results and the reported fission and total yields of individual tests, it has been possible to devise an empirical model of the movement and residence times of particles in the various atmospheric regions. This model, applied to all atmospheric weapons tests, allows extensive calculations of air concentrations and deposition amounts for the entire range of radionuclides produced throughout the testing period. Especially for the shorter-lived fission radionuclides, for which measurement results at the time of the tests are less extensive, a more complete picture of levels and isotope ratios can be obtained, forming a basis for improved dose estimations. The contributions to worldwide fallout can be inferred from individual tests, from tests at specific sites, or by specific countries. Progress was also made in understanding the global hydrological and carbon cycles from the tritium and 14C measurements. A review of the global measurements and modeling results is presented in this paper. In the future, if injections of materials into the atmosphere occur, their anticipated motions and fates can be predicted from the knowledge gained from the fallout experience.

  17. Histologic distribution of borderline ovarian tumors worldwide: a systematic review.

    Science.gov (United States)

    Song, Taejong; Lee, Yoo-Young; Choi, Chel Hun; Kim, Tae-Joong; Lee, Jeong-Won; Bae, Duk-Soo; Kim, Byoung-Gie

    2013-01-01

    The histologic types of borderline ovarian tumors (BOTs) exhibit striking differences in clinical behavior and prognosis. Yet, there is no information available on the histologic distribution of BOTs according to geographic region. The purpose of this study was to systematically review this issue worldwide. A comprehensive search of the literature was conducted using electronic databases. Studies were eligible if BOTs were investigated and the histologic distribution of the data was shown. The studies were grouped by geographic region and totaled by country. Of 487 potentially relevant studies, 51 met our inclusion criteria, as follows: 8 studies from North America (2 countries); 26 studies from Europe (14 countries); 7 studies from the Middle East (3 countries); and 10 studies from East Asia (5 countries). The histologic distribution of BOTs was considerably different in different parts of the world, but follows specific patterns. In general, serous-type BOTs were the predominantly identified histology in North America, the Middle East, and Europe, while mucinous-type BOTs predominated in East Asia. Significant geographic variation is evident among BOT histology in different parts of the world. More research is needed to understand this phenomenon.

  18. Worldwide correlations of mechanical properties and green wood density.

    Science.gov (United States)

    Niklas, Karl J; Spatz, Hanns-Christof

    2010-10-01

    The density of wood is highly correlated with the ability of stems and roots to resist bending or twisting, which is important for evaluating the mechanical behavior of trees. It also provides a measure of carbon storage, which is an important variable in modeling ecosystem processes and tree construction costs. However, most measurements of the density and mechanical properties of wood have little direct bearing on understanding the biomechanics of living plants because they are based on kiln- or air-dried samples. • Here, we present and analyze the relationships between four important mechanical properties (Young's modulus, the modulus of rupture, and the maximum strength in shearing and in compression) and the density of green wood (i.e., wood at 50% moisture content) from a worldwide, taxonomically broad spectrum of 161 species. • These data indicate that each of the mechanical properties disproportionately increases across species with increasing green wood density, i.e., stems composed of denser green wood are disproportionately stiffer and stronger than stems with equivalent cross-sections composed of less dense green wood. • Although denser wood may have a higher carbon construction cost, the mechanical benefits of denser woods likely outweigh the extra cost.

  19. Internal audit practices and trends in Romania and worldwide

    Directory of Open Access Journals (Sweden)

    Ionela-Corina CHERSAN

    2016-09-01

    Full Text Available For a long time, internal audit has been seen mainly as an activity of providing assistance to external auditors, especially by checking up accounting procedures as part of the internal control evaluation process. At present, while this role of the internal auditor has not disappeared, the role of consultant manager has gained primary importance. In this context, it is increasingly obvious that the professional profile of the internal auditor will undergo changes generated not only by the changes in the role that he or she fulfils, but also by the challenges that the business world needs to deal with: risk management, increasingly sophisticated information technology, data mining etc. This study relies on the information provided by The Institute of Internal Auditors Research Foundation – IIARF which includes data extracted from The Global Internal Audit Common Body of Knowledge – CBOK database, and it aims to point out the practices and trends regarding internal audit in Romania and worldwide, and, respectively, the competencies traditionally required from internal auditors, their views on the skills they master and on the scope of their further skill development.

  20. Salt intake, plasma sodium, and worldwide salt reduction.

    Science.gov (United States)

    He, Feng J; Macgregor, Graham A

    2012-06-01

    There is overwhelming evidence that a reduction in salt intake from the current level of approximately 9-12 g/d in most countries of the world to the recommended level of 5-6 g/d lowers blood pressure (BP) in both hypertensive and normotensive individuals. A further reduction to 3-4 g/d has a greater effect. Prospective studies and outcome trials have demonstrated that a lower salt intake is related to a reduced risk of cardiovascular disease. Cost-effectiveness analyses have documented that salt reduction is more or at the very least just as cost-effective as tobacco control in reducing cardiovascular disease, the leading cause of death and disability worldwide. The mechanisms whereby salt raises blood pressure and increases cardiovascular risk are not fully understood. The existing concepts focus on the tendency for an increase in extracellular fluid volume. Increasing evidence suggests that small increases in plasma sodium may have a direct effect on BP and the cardiovascular system, independent of extracellular volume. All countries should adopt a coherent and workable strategy to reduce salt intake in the whole population. Even a modest reduction in population salt intake will have major beneficial effects on health, along with major cost savings.

  1. Air quality inside subway metro indoor environment worldwide: A review.

    Science.gov (United States)

    Xu, Bin; Hao, Jinliang

    2017-10-01

    The air quality in the subway metro indoor microenvironment has been of particular public concern. With specific reference to the growing demand of green transportation and sustainable development, subway metro systems have been rapidly developed worldwide in last decades. The number of metro commuters has continuously increased over recent years in metropolitan cities. In some cities, metro system has become the primary public transportation mode. Although commuters typically spend only 30-40min in metros, the air pollutants emitted from various interior components of metro system as well as air pollutants carried by ventilation supply air are significant sources of harmful air pollutants that could lead to unhealthy human exposure. Commuters' exposure to various air pollutants in metro carriages may cause perceivable health risk as reported by many environmental health studies. This review summarizes significant findings in the literature on air quality inside metro indoor environment, including pollutant concentration levels, chemical species, related sources and health risk assessment. More than 160 relevant studies performed across over 20 countries were carefully reviewed. These comprised more than 2000 individual measurement trips. Particulate matters, aromatic hydrocarbons, carbonyls and airborne bacteria have been identified as the primary air pollutants inside metro system. On this basis, future work could focus on investigating the chronic health risks of exposure to various air pollutants other than PM, and/or further developing advanced air purification unit to improve metro in-station air quality. Copyright © 2017 Elsevier Ltd. All rights reserved.

  2. Market assessment of photovoltaic power systems for agricultural applications worldwide

    Science.gov (United States)

    Cabraal, A.; Delasanta, D.; Rosen, J.; Nolfi, J.; Ulmer, R.

    1981-01-01

    Agricultural sector PV market assessments conducted in the Phillippines, Nigeria, Mexico, Morocco, and Colombia are extrapolated worldwide. The types of applications evaluated are those requiring less than 15 kW of power and operate in a stand alone mode. The major conclusions were as follows: PV will be competitive in applications requiring 2 to 3 kW of power prior to 1983; by 1986 PV system competitiveness will extend to applications requiring 4 to 6 kW of power, due to capital constraints, the private sector market may be restricted to applications requiring less than about 2 kW of power; the ultimate purchase of larger systems will be governments, either through direct purchase or loans from development banks. Though fragmented, a significant agriculture sector market for PV exists; however, the market for PV in telecommunications, signalling, rural services, and TV will be larger. Major market related factors influencing the potential for U.S. PV Sales are: lack of awareness; high first costs; shortage of long term capital; competition from German, French and Japanese companies who have government support; and low fuel prices in capital surplus countries. Strategies that may aid in overcoming some of these problems are: setting up of a trade association aimed at overcoming problems due to lack of awareness, innovative financing schemes such as lease arrangements, and designing products to match current user needs as opposed to attempting to change consumer behavior.

  3. Absorption fluids data survey: Final report on worldwide data

    Energy Technology Data Exchange (ETDEWEB)

    Macriss, R.A.; Gutraj, J.M.; Zawacki, T.S.

    1988-02-01

    Over 500 different worldwide publications containing data that relate to properties of binary, ternary, and multicomponent absorption fluids have been identified; from these publications, 278 were selected as primary sources of relevant data. Fluids covered include combinations of 38 different refrigerant compounds, as well as of 131 single, 42 binary, and 14 ternary absorbent compounds. Generally, the 38 refrigerants are divided among the following categories of chemical compounds: inorganic, 3; organic, 35 (amines, 4; alcohols, 5; halogenated, 25; and hydrocarbons, 1). The single absorbent compounds generally are subdivided as follows: inorganic, 48; organic, 83 (alcohols, 10; ethers, 5; alcohol-ethers, 3; amides, 9; amines, 4; amine-alcohols, 1; esters, 21; ketones, 5; acids, 4; aldehydes, 1; and others, 20). The binary and ternary absorbents are various mixtures of two or more single absorbent compounds. Coarse screening and evaluations were performed. Data gaps for key fluids are summarized and unresolved conflicts in data are noted. Results show that, with very few exceptions, all candidate fluids for development activities dealing with advanced absorption heat pump concepts have data gaps that must be addressed in the near future. 44 figs., 6 tabs.

  4. Update on counterfeit antibiotics worldwide; public health risks.

    Science.gov (United States)

    Delepierre, A; Gayot, A; Carpentier, A

    2012-06-01

    Antibiotics are the most counterfeited medicines and account for 28% of global counterfeit medicines. Counterfeit antibiotics are estimated at 5% of the global antibiotic market. No area in the world seems to be spared from counterfeiting of antibiotics. However, these are rare in developed countries, whereas the strong demand for antibiotics in emerging countries creates a highly attractive market for counterfeiters. Thus, 78% of counterfeit antibiotics come from South-East Asia and their destination is mainly emerging countries (South-East Asia: 44%; sub-Saharan Africa: 30%; Europe, North America: 9%; others: 16%). Counterfeit antibiotics are antibiotics that have been commonly used for years (beta-lactams: 50%; quinolones: 12%; macrolides, lincosamides, and synergistins: 1%; cyclins: 7%; others: 20%). The main counterfeit formulations (77%) concern oral administration (tablets, syrup, capsules) whereas injected drugs account for only 17% of counterfeit formulations, and eye drops and ointments 6%. The kind of counterfeiting for antibiotics is similar to that of other drugs (no active ingredients: 43%; bad quality: 24%; insufficient quantity of active ingredients: 21%; wrong active ingredients: 7%; counterfeit packaging: 5%). Beyond the harmful effects for patients, counterfeit medicines favor the emergence of bacterial resistance with a worldwide impact. Great efforts have been made to fight global counterfeiting of medicines since 1985. Copyright © 2012 Elsevier Masson SAS. All rights reserved.

  5. Worldwide Scientific Production Indexed by Scopus on Labour Relations

    Directory of Open Access Journals (Sweden)

    Esther Salmerón-Manzano

    2017-10-01

    Full Text Available This article examines the features of the worldwide contributions to the specialized literature in labour relations in the period 1970–2016. The source considered has been the Scopus Elsevier database, together with bibliometric analysis techniques. Different aspects of the publications are analysed, such as publication type, field, language, subcategory and journal type, as well as the keyword occurrence frequency. The results of this work show that the most popular keywords were Trade Union, Employment, Labour Market and Industrial Relations. It is observed how the United States, being the most productive country, leads in almost all the keywords except in two, “Labour market” and “Working Conditions”, which are led by UK. If the keywords are studied only as geographical terms we can find the United States, Eurasia and India. The contributions are geographically and institutionally broken down. The most active categories are Social Sciences, Business, and Management and Accounting. The evolution of the most popular keywords indicates how in the last years “Trade Unions” “Industrial Relations” and “Personnel” have lost importance against “Labor Market” and “Employment”, showing new concerns in the labour relations field.

  6. Allogeneic unrelated cord blood banking worldwide: an update.

    Science.gov (United States)

    Garcia, J

    2010-06-01

    Today Cord Blood (CB) Transplants are accepted as a therapeutic resource for the treatment of a variety of disorders, comparing in some cases, with transplants performed with other sources of progenitors. Unrelated Cord Blood Banks (CBBs) have significantly contributed to this improvement by the improvement on the knowledge of the CB biology and technical developments. Today, there are more than 100 active Cord Blood Banks (CBB), with an inventory of more than 400,000 units, which have generated more than 10000 cord blood transplants all around the world. Access to the world-wide CB inventory, as well as the hemopoietic progenitors inventory from adult donors, is a rather complex task which is continuously subject to improvements and consolidations. The growing numbers of CBBs and the search for efficiency has driven them to constitute or adapt consolidated data bases and access systems, and to develop a number of registries or networks to improved the access to inventories. The purpose of the present article is to provide a general overview on the number of CB units stored around the word, the quality accreditation systems and how the CB networks and their national and international inventories and registries are organized in order to support the, every time more efficient search for suitable CB units for patients lacking family donors. Copyright 2010. Published by Elsevier Ltd.

  7. Market assessment of photovoltaic power systems for agricultural applications worldwide

    Science.gov (United States)

    Cabraal, A.; Delasanta, D.; Rosen, J.; Nolfi, J.; Ulmer, R.

    1981-11-01

    Agricultural sector PV market assessments conducted in the Phillippines, Nigeria, Mexico, Morocco, and Colombia are extrapolated worldwide. The types of applications evaluated are those requiring less than 15 kW of power and operate in a stand alone mode. The major conclusions were as follows: PV will be competitive in applications requiring 2 to 3 kW of power prior to 1983; by 1986 PV system competitiveness will extend to applications requiring 4 to 6 kW of power, due to capital constraints, the private sector market may be restricted to applications requiring less than about 2 kW of power; the ultimate purchase of larger systems will be governments, either through direct purchase or loans from development banks. Though fragmented, a significant agriculture sector market for PV exists; however, the market for PV in telecommunications, signalling, rural services, and TV will be larger. Major market related factors influencing the potential for U.S. PV Sales are: lack of awareness; high first costs; shortage of long term capital; competition from German, French and Japanese companies who have government support; and low fuel prices in capital surplus countries. Strategies that may aid in overcoming some of these problems are: setting up of a trade association aimed at overcoming problems due to lack of awareness, innovative financing schemes such as lease arrangements, and designing products to match current user needs as opposed to attempting to change consumer behavior.

  8. Potential impact of sea level rise on French islands worldwide

    Directory of Open Access Journals (Sweden)

    Celine Bellard

    2013-11-01

    Full Text Available Although sea level rise is one of the most certain consequences of global warming, yet it remains one of the least studied. Several studies strongly suggested that sea level rise will accelerate in the future with a potentially rise from 0.5 to 2 m at the end of the century. However, currently island conservation programs do not take into account the potential effects of sea level rise. Therefore, we investigated the potential consequences of sea level rise for 1,269 French islands worldwide, by assessing the total number of island that will be totally submerged for three different scenarios (1, 2 and 3 m. Under the worst scenario, up to 12% of all islands could be entirely submerged. Two regions displayed the most significant loss of island: New Caledonia and French Polynesia. Focusing on New Caledonia, we highlighted that endemic plant species that are already classified as critically endangered by the IUCN will be the most vulnerable to sea level rise. Losses of insular habitats will thus be important in the next decades for the French islands. Given that French islands covers all latitudes in the Pacific, Indian and Atlantic oceans and in the Mediterranean, our results suggested that the implications for the 180 000 islands around the world should be considerable. Therefore, decision makers are required to define island conservation priorities that will suffer of the future sea level rise.

  9. Eyjafjallajökull and 9/11: the impact of large-scale disasters on worldwide mobility.

    Science.gov (United States)

    Woolley-Meza, Olivia; Grady, Daniel; Thiemann, Christian; Bagrow, James P; Brockmann, Dirk

    2013-01-01

    Large-scale disasters that interfere with globalized socio-technical infrastructure, such as mobility and transportation networks, trigger high socio-economic costs. Although the origin of such events is often geographically confined, their impact reverberates through entire networks in ways that are poorly understood, difficult to assess, and even more difficult to predict. We investigate how the eruption of volcano Eyjafjallajökull, the September 11th terrorist attacks, and geographical disruptions in general interfere with worldwide mobility. To do this we track changes in effective distance in the worldwide air transportation network from the perspective of individual airports. We find that universal features exist across these events: airport susceptibilities to regional disruptions follow similar, strongly heterogeneous distributions that lack a scale. On the other hand, airports are more uniformly susceptible to attacks that target the most important hubs in the network, exhibiting a well-defined scale. The statistical behavior of susceptibility can be characterized by a single scaling exponent. Using scaling arguments that capture the interplay between individual airport characteristics and the structural properties of routes we can recover the exponent for all types of disruption. We find that the same mechanisms responsible for efficient passenger flow may also keep the system in a vulnerable state. Our approach can be applied to understand the impact of large, correlated disruptions in financial systems, ecosystems and other systems with a complex interaction structure between heterogeneous components.

  10. FINANCIAL RISK COVERAGE IN THE CONTEXT OF GLOBALIZATION FINANCIAL MARKETS

    Directory of Open Access Journals (Sweden)

    María Esperanza González-del Foyo

    2016-01-01

    Full Text Available In a globalized environment, the increase of risks that assume the international commerce makes necessary the to articulate the instruments of covering. The enterprise activity and the country in matter will condition in a great measure the type of covering that be needed to contract, the principal consist in: knowing the risks, evaluate its incidence, decide to cover it or assume it and in both cases the right choise most be the aplication of the strategy thatt be more efective. The States put under disposition of the enterprises a series of public mechanismes to help them to promote its internationalitation . One of the pillars where this politics rest is the use of mechanismes of riskes cover in the internacional commerce. In correspondence with the previous, to reflect on the aplications of the financial risk and the formulation of strategies to cover them in conditions of globalization of the financial markets, constitute the objetive of this article. 

  11. INFORMATION ON FINANCIAL INSTRUMENTS INCLUDED IN ANNUAL FINANCIAL STATEMENTS

    Directory of Open Access Journals (Sweden)

    Marius Gust

    2013-01-01

    Full Text Available This survey aims at emphasizing several aspects of the recognition, measurement and presentation of information on capital assets and how they are reflected in accounting. In this respect, here is a presentation of the calculation, preparation and regulation of impairment that can affect capital assets and the way accounting entries may influence the financial status and performance of a company. Although the bookkeeping variants of asset impairment, namely the Romanian and the international ones, are different, the information reported in annual financial statements is the same and assets are shown at their fair values. The issues approached in the paper herein are vast and they open new prospects to scientific research.

  12. Financial Market Regulation in Germany - Capital Requirements of Financial Institutions

    Directory of Open Access Journals (Sweden)

    Daniel Karl Detzer

    2015-03-01

    Full Text Available This paper examines capital adequacy regulation in Germany. The first part reviews capital adequacy regulation from the 1930s up to the financial crisis and identifies two main trends: a gradual softening of the eligibility criteria for equity and increasing reliance on internal risk models. While the first trend has been reversed following the financial crisis, internal risk models still play a central role. Therefore, the second part discusses the problems with the use of internal risk models and discusses the potentials of Basel 2.5 and Basel III to alleviate the identified problems. It is concluded that the relevant problems are not resolved. Therefore, in the final part some suggestions of how the problems could be addressed properly are given.

  13. Turkey Financial Reporting Standard - 9 "Financial Instruments" by Standard Classification of Financial Instruments and Application Examples

    Directory of Open Access Journals (Sweden)

    Emine Çına Bal

    2013-09-01

    Full Text Available According to IAS 39, financial assets are classified into four classes. This quadruple classification for financial assets in IAS 39 has reduced into the groups as valued at fair value in the form of financial assets valued at amortized cost by IFRS 9. At the implementing example of this study, stock held for trading is taken, and how to take into account the positive and negative differences in fair value using profit and loss accounts are shown. Another implementing example of our study is related to an investment in an equity investment that is not held for trading purposes. Changes will be occur later in the fair value of these financial assets are presented, as mentioned in the standard, in other comprehensive income subsequent. At the example related to purchase of bonds in the implementation part of the study, first the cost of bond at the date of purchase (purchase price + commission expenses, etc., cash flows will be obtained in the future from this bond (interest and principal payments equalizing discount rate (internal rate of return is calculated. Accordingly, an amortized cost table that shows interest income of each period, cash flows sourced from obtained interests and the cost bond at he and of each year is created. According to this table, accounting records considering each year-end valuation of the bond is shown.

  14. Fiscal Year 2008 Agency Financial Report

    National Research Council Canada - National Science Library

    2008-01-01

    The Department of Defense (DoD) Fiscal Year (FY) 2008 Agency Financial Report (AFR) provides the President, Congress, other federal departments and agencies, and the American public an overview of the Department's financial condition...

  15. Financial Literacy: A Critical Adult Education Appraisal

    Science.gov (United States)

    English, Leona M.

    2014-01-01

    This chapter critically examines financial literacy education, asking what its assumptions are and what adult educators need to ask of its curriculum, its bases, and the people being taught to be financially literate.

  16. Financial fragility and the fiscal multiplier

    NARCIS (Netherlands)

    van Wijnbergen, S.; van der Kwaak, C.

    2013-01-01

    We investigate the effectiveness of `Keynesian' fiscal stimuli when government deficits and debt rollovers are (possibly partially) financed by balance sheet constrained financial intermediaries. Because financial intermediaries operate under a leverage constraint, deficit financing of fiscal

  17. Norms, legitimacy, and global financial governance

    NARCIS (Netherlands)

    Underhill, G.R.D.; Zhang, X.

    2006-01-01

    Despite regular and serious systemic volatility, reform of international financial architecture remains limited, retaining market-oriented characteristics and adjustment mechanisms. A failure of the architecture to focus on the political underpinnings of global financial and monetary governance

  18. Defense Departmental Reporting Systems - Audited Financial Statements

    National Research Council Canada - National Science Library

    Granetto, Paul

    2001-01-01

    .... The Chief Financial Officers Act requires the Inspector General, DoD, to audit the financial statements of DoD organizations in accordance with generally accepted Government auditing standards...

  19. Integrative nature of financial risk management terminology

    OpenAIRE

    Akhmetova, Maynur

    2014-01-01

    Interdisciplinary approach to studying financial risk management terminology. Languages for special purposes of developed scientific fields are the most productive sources for borrowings for dynamically developing ones. Sources of term borrowings for financial risk management: their specific features and types.

  20. ARTIFICIAL INTELLIGENCE APPLICATIONS IN THE FINANCIAL SECTOR

    OpenAIRE

    Adrian Cozgarea; Gabriel Cozgarea; Andrei Stanciu

    2008-01-01

    The present paper exposes some of artificial intelligence specific technologies regarding financial sector. Through non-deterministic solutions and simple algorithms, artificial intelligence could become a base alternative for solving financial problems which require complex mathematic calculations or complex optimization.

  1. Financial System and Agricultural Growth in Ukraine

    Directory of Open Access Journals (Sweden)

    Oliynyk-Dunn Olena

    2017-08-01

    Full Text Available Background/Purpose: An effective financial system should increase the efficiency of economic activities. This study provides evidence regarding the importance of financial development for agricultural growth in Ukraine.

  2. Financial reporting by a shared ledger

    NARCIS (Netherlands)

    Blums, Ivar; Weigand, Hans; Borgo, Stefano; Kutz, Oliver; Loebe, Frank; Neuhaus, Fabian

    2017-01-01

    Among models and information about economic phenomena which help to understand how enterprises produce value, Accounting and Financial Reporting still play a leading and regulative role. The regulative role is established by enforceable International Financial Reporting Standards (IFRS). Ontology

  3. International Financial Reporting Standards and differential reporting

    OpenAIRE

    Jarvis, Robin; Collis, Jill

    2003-01-01

    This paper examines the international development of financial reporting standards for smaller entities from a UK perspective. It examines the three elements of differential reporting: abbreviated accounts, the Financial Reporting Standard for Smaller Entities and exemption from the statutory audit.

  4. The Architecture of Financial Risk Management Systems

    Directory of Open Access Journals (Sweden)

    Iosif ZIMAN

    2013-01-01

    Full Text Available The architecture of systems dedicated to risk management is probably one of the more complex tasks to tackle in the world of finance. Financial risk has been at the center of attention since the explosive growth of financial markets and even more so after the 2008 financial crisis. At multiple levels, financial companies, financial regulatory bodies, governments and cross-national regulatory bodies, all have put the subject of financial risk in particular and the way it is calculated, managed, reported and monitored under intense scrutiny. As a result the technology underpinnings which support the implementation of financial risk systems has evolved considerably and has become one of the most complex areas involving systems and technology in the context of the financial industry. We present the main paradigms, require-ments and design considerations when undertaking the implementation of risk system and give examples of user requirements, sample product coverage and performance parameters.

  5. Nursing Informatics Certification Worldwide: History, Pathway, Roles, and Motivation.

    Science.gov (United States)

    Séroussi, B; Soualmia, L F; Holmes, J H

    2016-11-10

    Official recognition and certification for informatics professionals are essential aspects of workforce development. To describe the history, pathways, and nuances of certification in nursing informatics across the globe; compare and contrast those with board certification in clinical informatics for physicians. (1) A review of the representative literature on informatics certification and related competencies for nurses and physicians, and relevant websites for nursing informatics associations and societies worldwide; (2) similarities and differences between certification processes for nurses and physicians, and (3) perspectives on roles for nursing informatics professionals in healthcare Results: The literature search for 'nursing informatics certification' yielded few results in PubMed; Google Scholar yielded a large number of citations that extended to magazines and other non-peer reviewed sources. Worldwide, there are several nursing informatics associations, societies, and workgroups dedicated to nursing informatics associated with medical/health informatics societies. A formal certification program for nursing informatics appears to be available only in the United States. This certification was established in 1992, in concert with the formation and definition of nursing informatics as a specialty practice of nursing by the American Nurses Association. Although informatics is inherently interprofessional, certification pathways for nurses and physicians have developed separately, following long-standing professional structures, training, and pathways aligned with clinical licensure and direct patient care. There is substantial similarity with regard to the skills and competencies required for nurses and physicians to obtain informatics certification in their respective fields. Nurses may apply for and complete a certification examination if they have experience in the field, regardless of formal training. Increasing numbers of informatics nurses are pursuing

  6. Nursing Informatics Certification Worldwide: History, Pathway, Roles, and Motivation

    Science.gov (United States)

    Cummins, M. R.; Gundlapalli, A. V.; Murray, P.; Park, H.-A.; Lehmann, C. U.

    2016-01-01

    Summary Introduction Official recognition and certification for informatics professionals are essential aspects of workforce development. Objective: To describe the history, pathways, and nuances of certification in nursing informatics across the globe; compare and contrast those with board certification in clinical informatics for physicians. Methods (1) A review of the representative literature on informatics certification and related competencies for nurses and physicians, and relevant websites for nursing informatics associations and societies worldwide; (2) similarities and differences between certification processes for nurses and physicians, and (3) perspectives on roles for nursing informatics professionals in healthcare Results The literature search for ‘nursing informatics certification’ yielded few results in PubMed; Google Scholar yielded a large number of citations that extended to magazines and other non-peer reviewed sources. Worldwide, there are several nursing informatics associations, societies, and workgroups dedicated to nursing informatics associated with medical/health informatics societies. A formal certification program for nursing informatics appears to be available only in the United States. This certification was established in 1992, in concert with the formation and definition of nursing informatics as a specialty practice of nursing by the American Nurses Association. Although informatics is inherently interprofessional, certification pathways for nurses and physicians have developed separately, following long-standing professional structures, training, and pathways aligned with clinical licensure and direct patient care. There is substantial similarity with regard to the skills and competencies required for nurses and physicians to obtain informatics certification in their respective fields. Nurses may apply for and complete a certification examination if they have experience in the field, regardless of formal training. Increasing

  7. Worldwide complete spherical Bouguer and isostatic anomaly maps

    Science.gov (United States)

    Bonvalot, S.; Balmino, G.; Briais, A.; Peyrefitte, A.; Vales, N.; Biancale, R.; Gabalda, G.; Reinquin, F.

    2011-12-01

    We present here a set of digital maps of the Earth's gravity anomalies (surface "free air", Bouguer and isostatic), computed at Bureau Gravimetric International (BGI) as a contribution to the Global Geodetic Observing Systems (GGOS) and to the global geophysical maps published by the Commission for the Geological Map of the World (CGMW). The free air and Bouguer anomaly concept is extensively used in geophysical interpretation to investigate the density distributions in the Earth's interior. Complete Bouguer anomalies (including terrain effects) are usually computed at regional scales by integrating the gravity attraction of topography elements over and beyond a given area (under planar or spherical approximations). Here, we developed and applied a worldwide spherical approach aimed to provide a set of homogeneous and high resolution gravity anomaly maps and grids computed at the Earth's surface, taking into account a realistic Earth model and reconciling geophysical and geodetic definitions of gravity anomalies. This first version (1.0) has been computed by spherical harmonics analysis / synthesis of the Earth's topography-bathymetry up to degree 10800. The detailed theory of the spherical harmonics approach is given in Balmino et al., (Journal of Geodesy, submitted). The Bouguer and terrain corrections have thus been computed in spherical geometry at 1'x1' resolution using the ETOPO1 topography/bathymetry, ice surface and bedrock models from the NOAA (National Oceanic and Atmospheric Administration) and taking into account precise characteristics (boundaries and densities) of major lakes, inner seas, polar caps and of land areas below sea level. Isostatic corrections have been computed according to the Airy Heiskanen model in spherical geometry for a constant depth of compensation of 30km. The gravity information given here is provided by the Earth Geopotential Model (EGM2008), developed at degree 2160 by the National Geospatial Intelligence Agency (NGA) (Pavlis

  8. Prevalence and causes of low vision and blindness worldwide

    Directory of Open Access Journals (Sweden)

    A.O . Oduntan

    2005-01-01

    Full Text Available A recent review of the causes and prevalence of low vision and blindness world wide is lack-ing. Such review is important for highlighting the causes and prevalence of visual impairment in the different parts of the world. Also, it is important in providing information on the types and magnitude of eye care programs needed in different parts of the world. In this article, the causes and prevalence of low vision and blind-ness in different parts of the world are reviewed and  the  socio-economic  and  psychological implications are briefly discussed. The review is based on an extensive review of the litera-ture using computer data bases combined with review of available national, regional and inter-national journals. Low vision and blindness are more prevalent in the developing countries than in the developed ones. Generally, the causes and prevalence of the conditions vary widely in different parts of the world and even within the same country. World wide, cataract is the most common cause of blindness and low vision among adults and elderly. Infectious diseases such as trachoma and onchocerciasis result-ing in low vision and blindness are peculiar to Africa, Asia and South America. Hereditary and congenital conditions are the most common causes of low vision and blindness among chil-dren worldwide.

  9. Bariatric Surgery and Endoluminal Procedures: IFSO Worldwide Survey 2014.

    Science.gov (United States)

    Angrisani, L; Santonicola, A; Iovino, P; Vitiello, A; Zundel, N; Buchwald, H; Scopinaro, N

    2017-09-01

    Several bariatric surgery worldwide surveys have been previously published to illustrate the evolution of bariatric surgery in the last decades. The aim of this survey is to report an updated overview of all bariatric procedures performed in 2014.For the first time, a special section on endoluminal techniques was added. The 2014 International Federation for the Surgery of Obesity and Metabolic Disorders (IFSO) survey form evaluating the number and the type of surgical and endoluminal bariatric procedures was emailed to all IFSO societies. Trend analyses from 2011 to 2014 were also performed. There were 56/60 (93.3%) responders. The total number of bariatric/metabolic procedures performed in 2014 consisted of 579,517 (97.6%) surgical operations and 14,725 (2.4%) endoluminal procedures. The most commonly performed procedure in the world was sleeve gastrectomy (SG) that reached 45.9%, followed by Roux-en-Y gastric bypass (RYGB) (39.6%), and adjustable gastric banding (AGB) (7.4%). The annual percentage changes from 2013 revealed the increase of SG and decrease of RYGB in all the IFSO regions (USA/Canada, Europe, and Asia/Pacific) with the exception of Latin/South America, where SG decreased and RYGB represented the most frequent procedure. There was a further increase in the total number of bariatric/metabolic procedures in 2014 and SG is currently the most frequent surgical procedure in the world. This is the first survey that describes the endoluminal procedures, but the accuracy of provided data should be hopefully improved in the next future. We encourage the creation of further national registries and their continuous updates taking into account all new bariatric procedures including the endoscopic procedures that will obtain increasing importance in the near future.

  10. Worldwide Phylogenetic Distributions and Population Dynamics of the Genus Histoplasma.

    Science.gov (United States)

    Teixeira, Marcus de M; Patané, José S L; Taylor, Maria L; Gómez, Beatriz L; Theodoro, Raquel C; de Hoog, Sybren; Engelthaler, David M; Zancopé-Oliveira, Rosely M; Felipe, Maria S S; Barker, Bridget M

    2016-06-01

    Histoplasma capsulatum comprises a worldwide complex of saprobiotic fungi mainly found in nitrogen/phosphate (often bird guano) enriched soils. The microconidia of Histoplasma species may be inhaled by mammalian hosts, and is followed by a rapid conversion to yeast that can persist in host tissues causing histoplasmosis, a deep pulmonary/systemic mycosis. Histoplasma capsulatum sensu lato is a complex of at least eight clades geographically distributed as follows: Australia, Netherlands, Eurasia, North American classes 1 and 2 (NAm 1 and NAm 2), Latin American groups A and B (LAm A and LAm B) and Africa. With the exception of the Eurasian cluster, those clades are considered phylogenetic species. Increased Histoplasma sampling (n = 234) resulted in the revision of the phylogenetic distribution and population structure using 1,563 aligned nucleotides from four protein-coding regions. The LAm B clade appears to be divided into at least two highly supported clades, which are geographically restricted to either Colombia/Argentina or Brazil respectively. Moreover, a complex population genetic structure was identified within LAm A clade supporting multiple monophylogenetic species, which could be driven by rapid host or environmental adaptation (~0.5 MYA). We found two divergent clades, which include Latin American isolates (newly named as LAm A1 and LAm A2), harboring a cryptic cluster in association with bats. At least six new phylogenetic species are proposed in the Histoplasma species complex supported by different phylogenetic and population genetics methods, comprising LAm A1, LAm A2, LAm B1, LAm B2, RJ and BAC-1 phylogenetic species. The genetic isolation of Histoplasma could be a result of differential dispersion potential of naturally infected bats and other mammals. In addition, the present study guides isolate selection for future population genomics and genome wide association studies in this important pathogen complex.

  11. A comparison of active adverse event surveillance systems worldwide.

    Science.gov (United States)

    Huang, Yu-Lin; Moon, Jinhee; Segal, Jodi B

    2014-08-01

    Post-marketing drug surveillance for adverse drug events (ADEs) has typically relied on spontaneous reporting. Recently, regulatory agencies have turned their attention to more preemptive approaches that use existing data for surveillance. We conducted an environmental scan to identify active surveillance systems worldwide that use existing data for the detection of ADEs. We extracted data about the systems' structures, data, and functions. We synthesized the information across systems to identify common features of these systems. We identified nine active surveillance systems. Two systems are US based-the FDA Sentinel Initiative (including both the Mini-Sentinel Initiative and the Federal Partner Collaboration) and the Vaccine Safety Datalink (VSD); two are Canadian-the Canadian Network for Observational Drug Effect Studies (CNODES) and the Vaccine and Immunization Surveillance in Ontario (VISION); and two are European-the Exploring and Understanding Adverse Drug Reactions by Integrative Mining of Clinical Records and Biomedical Knowledge (EU-ADR) Alliance and the Vaccine Adverse Event Surveillance and Communication (VAESCO). Additionally, there is the Asian Pharmacoepidemiology Network (AsPEN) and the Shanghai Drug Monitoring and Evaluative System (SDMES). We identified two systems in the UK-the Vigilance and Risk Management of Medicines (VRMM) Division and the Drug Safety Research Unit (DSRU), an independent academic unit. These surveillance systems mostly use administrative claims or electronic medical records; most conduct pharmacovigilance on behalf of a regulatory agency. Either a common data model or a centralized model is used to access existing data. The systems have been built using national data alone or via partnership with other countries. However, active surveillance systems using existing data remain rare. North America and Europe have the most population coverage; with Asian countries making good advances.

  12. Worldwide analysis of factors associated with medicines compendia publishing.

    Science.gov (United States)

    Arguello, Blanca; Fernandez-Llimos, Fernando

    2013-06-01

    Medicines compendia, also called formularies, are the most commonly used drug information source among health care professionals. The aim was to identify the countries publishing medicines compendia and the socio-demographic factors associated to this fact. Additionally, we sought to determine the use of foreign compendia in countries lacking their own. Global web-based survey. Healthcare practitioners and researchers from 193 countries worldwide were invited to complete a web-based survey. The questionnaire investigated the existence of a national compendium, or the use of foreign compendia in the absence of one. Demographic and socioeconomic variables were used to predict compendia publishing through a multivariate analysis. Existence of national medicines compendia and foreign compendia used. Professionals from 132 countries completed the survey (response rate at a country level 68.4%, comprising 90.9% global population). Eighty-four countries (63.6%) reported publishing a medicines compendium. In the multivariate analysis, only two covariates had significant association with compendia publishing. Being a member of the Organisation for the Economic Cooperation and Development was the only variable positively associated with compendia publishing (OR = 37.5; 95% CI = 2.3:599.8). In contrast, the countries that listed French as an official language were less likely to publish a compendium (OR = 0.07; 95% CI = 0.007:0.585). Countries without national compendia reported using the British National Formulary most commonly, followed by the Dictionnaire Vidal. Publication of medicines compendia is associated with socio-economic development. Countries lacking a national compendium, use foreign compendia from higher-income countries. Creating an international medicines compendium under the leadership of the World Health Organisation, rather than merely a 'model', would reduce the risks of using information sources not-adapted to the necessities of developing countries.

  13. Predicting life history parameters for all fishes worldwide.

    Science.gov (United States)

    Thorson, James T; Munch, Stephan B; Cope, Jason M; Gao, Jin

    2017-12-01

    Scientists and resource managers need to know life history parameters (e.g., average mortality rate, individual growth rate, maximum length or mass, and timing of maturity) to understand and respond to risks to natural populations and ecosystems. For over 100 years, scientists have identified "life history invariants" (LHI) representing pairs of parameters whose ratio is theorized to be constant across species. LHI then promise to allow prediction of many parameters from field measurements of a few important traits. Using LHI in this way, however, neglects any residual patterns in parameters when making predictions. We therefore apply a multivariate model for eight variables (seven parameters and temperature) in over 32,000 fishes, and include taxonomic structure for residuals (with levels for class, order, family, genus, and species). We illustrate that this approach predicts variables probabilistically for taxa with many or few data. We then use this model to resolve three questions regarding life history parameters in fishes. Specifically we show that (1) on average there is a 1.24% decrease in the Brody growth coefficient for every 1% increase in maximum size; (2) the ratio of natural mortality rate and growth coefficient is not an LHI but instead varies systematically based on the timing of maturation, where movement along this life history axis is predictably correlated with species taxonomy; and (3) three variables must be known per species to precisely predict remaining life history variables. We distribute our predictive model as an R package, FishLife, to allow future life history predictions for fishes to be conditioned on taxonomy and life history data for fishes worldwide. This package also contains predictions (and predictive intervals) for mortality, maturity, size, and growth parameters for all described fishes. © 2017 by the Ecological Society of America.

  14. Patterns of selectivity in introductions of mammal species worldwide

    Directory of Open Access Journals (Sweden)

    Tim M. Blackburn

    2017-01-01

    Full Text Available Humans have an extremely long history of transporting and introducing mammal species outside their native geographic ranges. The characteristics of the species introduced (taxonomy, life-history, ecology, environment can all influence which traits are available (and selected for establishment, and subsequent invasive spread. Understanding the non-randomness in species introductions is therefore key to understanding invasions by alien species. Here, we test for selectivity in the identities and traits of mammal species introduced worldwide. We compiled and analysed a comprehensive database of introduced mammal species, including information on a broad range of life history, ecological, distributional and environmental variables that we predicted to differ between introduced and non-introduced mammal species. Certain mammal taxa are much more likely to have been introduced than expected, such as Artiodactyls in the families Bovidae and Cervidae. Rodents and bats were much less likely to have been introduced than expected. Introduced mammal species have significantly larger body masses, longer lifespans and larger litter sizes than a random sample of all mammal species. They also have much larger native geographic ranges than expected, originate from significantly further north, from cooler areas, and from areas with higher human population densities, than mammal species with no recorded introductions. The traits and distributions of species help determine which have been introduced, and reflect how the evolutionary history of mammals has resulted in certain species with certain traits being located in the way of human histories of movement and demands for goods and services. The large amount of unexplained variation is likely to relate to the intrinsically stochastic nature of this human-driven process.

  15. Astronomy for Astronomical Numbers: A Worldwide Massive Open Online Class

    Directory of Open Access Journals (Sweden)

    Chris D. Impey

    2015-02-01

    Full Text Available Astronomy: State of the Art is a massive, open, online class (MOOC offered through Udemy by an instructional team at the University of Arizona. With nearly 24,000 enrolled as of early 2015, it is the largest astronomy MOOC available. The astronomical numbers enrolled do not translate into a similar level of engagement. The content consists of 14 hours of video lecture, nearly 1,000 Powerpoint slides, 250 pages of background readings, and 20 podcast interviews with leading researchers. Perhaps in part because of the large amount of course content, the overall completion rate is low, about 3%. However, this number was four times higher for an early cohort of learners who were selected to have a prior interest in astronomy and who took the class in synchronous mode, with new content being added every week. Completion correlates with engagement as measured by posts to the online discussion board. For a subset of learners, social media like Facebook and Twitter provide an additional, important mode of engagement. For the asynchronous learners who have continuously enrolled for the past 15 months, those who complete the course do so quickly, with few persisting longer than two months. The availability of a free completion certificate had no impact on completion rates when it was added midway through the period of data analyzed in this paper. This experiment informs a new offering of an enhanced version of this MOOC via Coursera, along with a co-convened “flipped” introductory astronomy class at the University of Arizona, where the video lectures will be online and class time will be used exclusively for small group labs and hands-on activities. Despite their typically low completion rates, MOOCs have the potential to add significantly to public engagement with science, and they attract a worldwide audience.

  16. Worldwide Impact: International Year of Astronomy Dark Skies Awareness Programs

    Science.gov (United States)

    Walker, C. E.; Pompea, S. M.; Isbell, D.

    2009-12-01

    The arc of the Milky Way seen from a truly dark location is part of our planet's natural heritage. More than one fifth of the world population, two thirds of the United States population and one half of the European Union population have already lost naked eye visibility of the Milky Way. This loss, caused by light pollution, is a serious and growing issue that impacts astronomical research, the economy, ecology, energy conservation, human health, public safety and our shared ability to see the night sky. For this reason, “Dark Skies Awareness” is a global cornerstone project of the International Year of Astronomy. Its goal is to raise public awareness of the impact of artificial lighting on local environments by getting people worldwide involved in a variety of programs through: - New Technology (website, podcasts, social networking, Second Life) - Educational Materials (Great Switch Out, a traveling exhibit, brochures, posters, CDs, DVDs, educational kit) - The Arts (photo contest) - Events (Earth Hour, International Dark Sky Week, World Night in Defense of Starlight, Dark Skies Discovery Sites, Sidewalk Astronomy, Nights in the Parks) - Citizen Science Programs (5 star hunting programs & Quiet Skies) Dark Skies Communities (Starlight Initiative, International Dark Sky Communities) Many countries around the world have participated in these programs. We will highlight 24 countries in particular and focus on successful techniques used in aspects of the programs, results and impact on the audience, and plans and challenges for maintaining or extending the program beyond the International Year of Astronomy. The International Year of Astronomy 2009 is partially funded from a grant from the National Science Foundation (NSF) Astronomy Division. The National Optical Astronomy Observatory is host to the IYA2009 Dark Skies Awareness programs and is operated by the Association of Universities for Research in Astronomy, Inc. under cooperative agreement with NSF.

  17. Risks from Worldwide Terrorism: Mortality and Morbidity Patterns and Trends

    Energy Technology Data Exchange (ETDEWEB)

    Bogen, K T; Jones, E D

    2005-01-25

    Worldwide data on terrorist incidents between 1968 and 2004 gathered by the RAND corporation and the Oklahoma City National Memorial Institute for the Prevention of Terrorism (MIPT) were assessed for patterns and trends in morbidity/mortality. The data involve a total of 19,828 events, 7,401 ''adverse'' events (each causing {ge}1 victim), 91,346 cases of casualty (either injury or death) and 25,408 deaths. Analyses revealed a number of interesting patterns and apparently significant trends. Most terror-related adverse events, casualties and deaths involved bombs and guns. Weapon-specific patterns and terror-related risk levels in Israel (ISR) have differed markedly from those of all other regions combined (AOR). ISR had a fatal fraction of casualties about half that of AOR, but has experienced relatively constant lifetime terror-related casualty risks on the order of 0.5%--a level 2 to 3 orders of magnitude more than those experienced in AOR, which have increased {approx}100-fold over the same period. Individual event fatality has increased steadily, the median increasing from 14 to 50%. Lorenz curves obtained indicate substantial dispersion among victim/event rates: about half of all victims were caused by the top 2% (10%) of harm-ranked events in OAR (ISR). Extreme values of victim/event rates were found to be well modeled by classic or generalized Pareto distributions, indicating that these rates have been as predictable as similarly extreme phenomena such as rainfall, sea levels, earthquakes, etc. This observation suggests that these extreme-value patterns may be used to improve strategies to prevent and manage risks associated with terror-related consequences.

  18. COMPARATIVE FINANCIAL STATEMENTS. CONVERGENCE VERSUS DIVERGENCE

    Directory of Open Access Journals (Sweden)

    Nicolae ECOBICI

    2010-09-01

    Full Text Available In this paper I compared the Romanian financial statements with the US GAAP financial statements in terms of two criteria: first the reference period and secondly the shape, structure and content of financial statements. Nowadays the two accounting systems, the French and Anglo-Saxon, tend to harmonize. I will present the convergences and the divergences between the financial statements of Romania, subject to OMFP 3055/2009, in parallel with the Anglo-Saxon accounting system.

  19. Measuring Financial Inclusion: A Multidimensional Index

    OpenAIRE

    Noelia Camara; David Tuesta

    2014-01-01

    We rely on demand and supply-side information to measure the extent of financial inclusion at country level for eighty-two developed and less-developed countries. We postulate that the degree of financial inclusion is determined by three dimensions: usage, barriers and access to financial inclusion. Weights assigned to the dimensions are determined endogenously by employing a two-stage Principal Component Analysis. Our composite index offers a comprehensive measure of the degree of financial ...

  20. Optimal Investment by Financially Xenophobic Managers

    OpenAIRE

    Jason G. Cummins; Ingmar Nyman

    2000-01-01

    Case studies show that corporate managers seek financial independence to avoid interference by outside financiers. We incorporate this financial xenophobia as a fixed cost in a simple dynamic model of financing and investment. To avoid refinancing in the future, the firm alters its behavior depending on the extent of its financial xenophobia and the realization of a revenue shock. With a sufficiently adverse shock, the firm holds no liquidity. Otherwise, the firm precautionarily saves and hol...