Dissertations / Theses on the topic 'Channel banks'

The purpose of this thesis is to empirically explore the characteristics of the monetary transmission mechanism, with a particular emphasis on the role of banks, in Turkey. By looking at the banking sector at the micro level and exploiting dynamic panel data modeling approaches, the heterogeneity in banks&rsquo
response in terms of their lending and risk-taking to changes in policy interest rates is analyzed. The first essay is an empirical analysis of the bank lending channel of monetary transmission. In this regard, the lending behavior of banks operating over the period 1988-2009 is examined. Given the changes in the policy stance and developments in the financial system following the 2000-01 crisis, the analysis is further conducted for the two sub-periods: 1988-2001 and 2002 2009, to examine whether there is a change in the functioning of the credit channel. Empirical evidence suggests cross sectional heterogeneity in banks&rsquo
response to monetary policy changes during 1988-2009. Regarding the results of the pre-crisis and post-crisis periods, it is found that an operative bank lending channel existed in 1988-2001, however its impact became much stronger thereafter. Furthermore, there are significant differences in the distributional effects due to bank specific characteristics in the impact of monetary policy on credit supply between the two sub-periods. The second essay investigates the existence of risk-taking channel of monetary policy by using quarterly data over the period 2002-2012. Four alternative risk measures are used in the analysis
three accounting-based risk indicators and a market-based indicator. Our findings show that low levels of interest rates have a positive impact of banks&rsquo
risk-taking behavior for all risk measures. In terms of bank specific characteristics, our results imply that large, liquid and well-capitalized banks are less prone to risk-taking.

This thesis examines three different aspects of monetary policy in a varying sample of developing countries, with some Islamic banks. The first essay estimates a variety of interest rate rules for the conduct of monetary policy for Indonesia, Israel, South Korea, Thailand and Turkey, in both high and low inflation conditions. The findings are that the reaction of monetary policy to both inflation and output gaps differs between the high and low inflation regimes and that the exchange rate channel is important only in the low inflation regime. The second essay examines the bank lending channel of monetary transmission in Malaysia, a country with a dual banking system, with both Islamic and conventional banks. The results show that Islamic credit is less responsive to interest rates shocks than is conventional credit, in both high and low growth conditions. In contrast, the relative importance of Islamic credit shocks in driving output and inflation is greater under low -inflation conditions and higher Islamic credit leads to higher growth and lower inflation in such conditions. The third essay re-examines the question of causality between credit and GDP between two sets of countries one set without Islamic banks and the other set with dual banking systems, including some Islamic banks. The results suggest long-run causality from credit growth to GDP in countries with only Islamic banks.

With a fair share of the blame for the subprime crisis pointing to banks' extensive involvement in trading, this thesis examines three closely related issues. The first essay shows that regulatory capital arbitrage, insolvency risk, and non-interest income are all important motivations for banks to become involved in trading. The second essay support the widely held perception that trading activities such as off-balance sheet derivatives, securitization, and assets sales all are making banks more opaque. With banks' business model changing from ''originate and hold'' to ''originate, repackage, and sell'', the last essay show that trading channel exist and it has weakened the effectiveness of monetary policy transmission through banks' capital and lending channel.

Niche banks emerged from deregulation of the financial market and from the increasing distrust of the established banking oligopoly in Sweden. From its establishment, niche banks narrowed their scope and targeted certain profitable segments of the banking market. The proliferation of the technological development of Customer Relationship Management (CRM) enables banks to collect information and gain more control over its customer base. To create meaningful relationships and retain customers, niche banks reaches out through the convenience of both online and offline channels to provide their products and services. With the support of two Swedish niche banks, namely Länsförsäkringar Bank and ICA Bank, the objective of this study is to understand how Swedish niche banks operate their CRM strategies and how they retain customers across channels. A mixture of deductive and inductive approaches has been used in handling our data. The empirical data collected from interviews was analysed together with secondary data to fulfil our research purpose. The result from this thesis illuminates that there are contrasting views of how CRM systems are used practically within the chosen niche banks. LF Bank’s CRM system falls back on the human factor rather than the technological advancement, while ICA Bank utilizes their CRM as a digital fundament in customer building.

El presente estudio analiza cuál es el impacto que tienen los requerimientos de encaje en los créditos bancarios destinados a actividades productivas. Se tiene en consideración la particularidad del sistema financiero peruano, que se caracteriza por poseer un alto nivel de dolarización y concentración. Por ello, se busca determinar cómo interactúan los requerimientos de encaje por moneda y ciertas características de cada banco, tales como la liquidez, el tamaño del banco y la rentabilidad, ante cambios en el instrumento de política. Luego de aplicar un modelo de paneles dinámicos diferenciando por moneda se encontró la presencia de heterogeneidad en las respuestas de los bancos. Los principales resultados demostraron que los bancos más grandes y con mayor liquidez mitigan mejor los cambios del encaje en moneda extranjera en los créditos en la misma moneda. De igual manera, los bancos más líquidos y rentables son menos sensibles ante cambios en el encaje en moneda nacional.
This study analyzes the impact of reserve requirements on banking credit for productive activities. It takes into account the particularity of the Peruvian financial system, which is characterized by having a high level of dollarization and concentration. Therefore, it seeks to determine how the reserve requirements by currency and certain characteristics of banks interact with each other, such as liquidity, bank size and profitability, to change in the policy instrument. After applying a dynamic panel model differentiating by currency, the presence of heterogeneity in bank’s responses was found. The main results demonstrated that largest and most liquid banks better mitigate the changes in the reserve requirement in foreign currency in credits in the same currency. Similarly, the most liquid and profitable banks are less sensitive to changes in reserve requirement in national currency.
Trabajo de investigación

La thèse s'inscrit dans les débats en macroéconomie bancaire dédiés au canal de prise de risque par transmission de la politique monétaire. Ainsi, j'aborde cette problématique sous trois angles différents au sein du secteur bancaire de la zone euro, et mobilise de multiples stratégies d'évaluation qui contribuent à une meilleure compréhension de l'impact de la politique monétaire sur le risque de crédit. Premièrement, j'étudie comment le canal de prise de risque de la politique monétaire interagit avec le niveau d'endettement des établissements bancaires après la crise des subprimes. Sur base de techniques de panel dynamiques, je montre que le risque de crédit est associé négativement aux variations de taux, et que le degré de concurrence dans les industries bancaires nationales tend à renforcer cet effet. Je suggère également que cette relation négative est plus prononcée pour les banques ayant des niveaux d'endettement plus élevés. Cependant, ces résultats pour la zone euro sont très différents de ceux observés dans le secteur bancaire américain, ce qui confirme que le temps, les conditions géographiques, ainsi que la configuration des marchés bancaires locaux doivent être pris en compte dans l'examen de l'impact de la politique monétaire sur le risque de crédit. J'examine ensuite l'impact conjoint du capital bancaire et de la liquidité de financement sur le canal de prise de risque de la politique monétaire. En utilisant des données sur la zone euro de 1999 à 2018, je mets en lumière un effet d'éviction des dépôts avant 2008, justifiant la mise en place simultanée de ratios de capital et de liquidité de financement afin d'atténuer la transmission de la politique monétaire au risque de crédit. L'analyse met également en évidence l'absence de cet effet d'éviction des dépôts pour les banques peu efficaces après 2008. Ce résultat implique que les banques inefficaces opérant dans un environnement à taux bas font face à un dilemme entre stabilité financière (par amélioration de leur ratio de fonds propres) et liquidité de financement (par amélioration de leur ratio de dépôts). Ces résultats posent question quant à l'uniformisation des exigences de liquidité de financement au sein de la zone euro comme suggéré par Bâle III. Enfin, j'étends l'analyse au cas particulier des banques coopératives et du prêt relationnel. En raison de spécificités locales, régionales et nationales, ces organismes de crédit peuvent réagir de façon très différente à une même politique monétaire, commune en zone euro. Premièrement, je ne trouve pas de preuve empirique montrant la présence d'un canal de prise de risque pour les banques coopératives dites consolidées (c'est-à-dire peu engagées vis-à-vis du prêt relationnel), alors que ce canal est largement mis en évidence dans la littérature pour les banques non-coopératives dans la zone euro. Par conséquent, les banques coopératives consolidées semblent ne pas augmenter leur risque de crédit face à un assouplissement de la politique monétaire. Par ailleurs, la rentabilité des banques coopératives qui, au contraire, tentent de préserver leurs pratiques de prêt relationnel est davantage affaiblie dans un environnement à taux bas par rapport aux banques coopératives ayant opté pour une consolidation de leurs activités. Ce résultat soulève la question de la viabilité du prêt relationnel lorsque les taux se maintiennent à des niveaux (très) bas sur une longue période. Enfin, je montre que les banques non-coopératives et les banques coopératives relationnelles sont toutes deux touchées par le canal de prise de risque de la politique monétaire. Néanmoins, j'avance que de telles similitudes ne surviennent pas pour les mêmes raisons: le prêt relationnel est associé à un processus radicalement différent de celui des prêts dits transactionnels, ces derniers consacrant des proportions beaucoup plus faibles de leurs actifs à des prêts aux petites entreprises ou aux entreprises ayant un ancrage territorial fort
The thesis contributes to recurrent debates in the macroeconomics of banking regarding the risk-taking channel of monetary policy. As the unifying theme of the present essays, I tackle this issue from three different angles with a special focus on the euro area. I rely on available data and different identification strategies to deliver up-to-date empirical evidence contributing to a deeper understanding of the monetary policy impacts on credit risk. In the first chapter of the thesis, I investigate how the risk-taking channel of monetary policy interacts with the degree of leverage in banks' balance sheets after the Global Financial Crisis of 2008 (GFC). Using dynamic panel techniques, I first find significant statistical evidence that credit risk is negatively associated with variations in interest rates, while competition in national banking industries tends to enhance this effect. I also suggest that this negative relationship is most pronounced for banks with relatively high levels of leverage, which is consistent with a ‘‘search for yield’’ effect. These results for the euro area are strikingly different from the U.S. banking industry, confirming that time, geographical circumstances, and local banking market conditions are key in understanding the impact of monetary policy on credit risk. The second chapter investigates the joint impact of bank capital and funding liquidity on the monetary policy's risk-taking channel. Using data on the euro area from 1999 to 2018 and triple interactions between monetary policy, bank equity, and funding liquidity, I shed light on a ‘‘crowding-out of deposits’’ effect prior to the GFC, which supports the need for simultaneous capital and funding liquidity ratios to mitigate the monetary transmission to bank credit risk. Interestingly, the analysis also highlights a missing crowding-out of deposits effect among low-efficiency banks in the aftermath of the GFC. Consequently, a trade-off arises between financial stability and increased funding liquidity, requiring a special treatment for inefficient banks operating in a low interest rate environment. These results challenge the implementation of uniform funding liquidity requirements across the euro area as by the Basel III framework suggests. The third and last chapter extends the analysis to the special case of cooperative banks and relationship lending in the euro area. These financial intermediaries tell a different story between countries and therefore imply different responses to a common monetary policy. Accordingly, I find no evidence of the presence of a risk-taking channel of monetary policy for consolidated (i.e., less committed to relationship lending) cooperative banks, whereas the results indicate extensive evidence of a risk-taking channel in the euro area for non-cooperative banks (see also the previous chapters of the thesis). Therefore, consolidated cooperative banks seem not to raise their credit risk significantly when monetary policy is eased. Further, I highlight that the profitability of cooperative banks preserving their relationship lending model is more severely hit by a low interest rate environment compared to cooperative banks opting for consolidation. This finding raises issues on the mid-term durability of relationship lending as interest rates have been low for an extended period in the European banking industry. I ultimately find that both non-cooperative banks and relationship-based cooperative banks are concerned about the risk-taking channel of monetary policy transmission, which results in an increase in their credit risk under accommodating monetary conditions. Nevertheless, I suggest that such similarities do not exist for the same reasons, as relationship lending is associated with a fundamentally different lending process than transactions-based lending technologies, which devote significantly lower proportions of their assets to lending to small businesses

It has long been accepted that changes in monetary policy have real economic effects; however, the mechanism by which these policy changes are transmitted to the real economy has been the subject of much debate. Traditionally the transmission mechanism of monetary policy has consisted of various channels which include the money channel, the asset price channel and the exchange rate channel. Recent developments in economic theory have led to a relatively new channel of policy transmission, termed the credit channel. The credit channel consists of the bank lending channel as well as the balance sheet channel, and focuses on the demand for credit as the variable of interest. The credit channel is based on the notion that demanders and suppliers of credit face asymmetric information problems which create a gap between the cost of external funds and the cost of internally generated funds, referred to as the wedge. The aim here is to determine the size and lag length effects of changes in credit demand, by both firms as well as households, as a result of changes in interest rates. A secondary, but subordinate, aim is to test for a balance sheet channel of monetary policy transmission. A vector autoregressive (VAR) model is used in conjunction with causality tests, impulse response functions and variance decompositions to achieve the stated objectives. Results indicate that the interest rate elasticity of credit demand, for both firms and households, is interest inelastic and therefore the monetary policy authorities have a limited ability to influence credit demand in the short as well as medium term. In light of the second aim, only weak evidence of a balance sheet channel of policy transmission is found.

Thesis (PhD)--Stellenbosch University, 2013.
ENGLISH ABSTRACT: The convergence of the Internet, wireless technologies, and mobile devices has led to the development of a new paradigm of transacting, namely, mobile commerce. Because banking activities are easily digitised and automated, banks have seized the mobile transacting opportunity and have developed cellphone banking applications that allow more flexibility for bank clients than internet banking in terms of anywhere, anytime banking. For banks, considering the benefits associated with multi-channel customers, the ideal situation would be that bank clients using internet banking also adopt and continue to use cellphone banking in the future. Therefore, to assist marketing managers with the development of marketing strategies to enhance the concurrent use of internet and cellphone banking, this study investigates the influence of internet banking cognitive evaluations on the perceived usefulness and the perceived ease of use of cellphone banking in the formation of the intention to use and the continuance of use intention of cellphone banking. A literature review revealed that two consumer behaviour theories can guide crosschannel cognitive evaluations between the internet banking and cellphone banking channel namely, expectation-transfer theory and status quo bias theory. In the context of this study, expectation-transfer theory can explain cross-channel evaluative synergies from the internet banking channel to the cellphone banking channel, as well as dissynergies; whilst status quo bias underpins only evaluative dissynergies. These theories point to internet banking beliefs that could influence the perceived ease of use and perceived usefulness of cellphone banking. Based on the literature review, a conceptual model was developed of the formation of intention to use and the continuance of use intention of cellphone banking in an internet banking context. To assess the validity of the model empirically, data were collected from 678 users of only internet banking and 491 users of both internet and cellphone banking. The data collected in the empirical phase of the study were analysed using the structural equations modelling (SEM) software program AMOS 20.0. The results revealed that the perceived convenience and time saving of internet banking positively influence the perceived usefulness of cellphone banking for the users of both internet and cellphone banking. On the other hand, only the perceived convenience of internet banking influenced the cellphone banking usefulness perceptions of the users of only internet banking. Furthermore, internet banking trust and risk perceptions only influenced the cellphone banking usefulness perceptions of the users of only internet banking. Expectation-transfer in both cohorts was also confirmed between the ease of use perceptions of internet banking and the perceived ease of use of cellphone banking. The results also confirmed that internet banking facilitating conditions negatively influence the perceived usefulness of cellphone banking (evidence of status quo bias). The theoretical contribution of the study is apparent at three different levels. Firstly, the conceptual model of cross-channel cognitive evaluations extends the Technology Acceptance Model (TAM) with beliefs of a related technology as the determinants of perceived usefulness and perceived ease of use. Secondly, the study provides more insights into how cross-channel cognitive evaluations influence the formation of intention to use and the continuance of use intention of cellphone banking. And lastly, the study identifies additional sources of expectation-transfer and status-quo bias in the multichannel marketing context. The study provides valuable insights into internet – cellphone banking multi-channel consumer behaviour that should be considered by managers in the development of cellphone banking marketing strategies. To facilitate the conversion from internet banking to the concurrent usage of internet and cellphone banking, managers of cellphone banking services must ensure that the internet banking service is reliable and risk free. Equally important, cellphone banking must be marketed as a complementary channel to internet banking. In other words, the usefulness of cellphone banking must be emphasised in situations when the bank client is not near a computer to do internet banking or when he/she does not have the time or money to use a computer for internet banking. And lastly, to enhance the adoption of cellphone banking marketing communications must emphasise the similarities between internet and cellphone banking so that expectation-transfer between the two channels can influence behavioural intentions to adopt cellphone banking. Based on the results of the study, several recommendations can be made to enhance the continuance of use of cellphone banking. Firstly, marketing communications must remind the concurrent users of internet and cellphone banking of why they are using cellphone banking. The most important reason to remind them of is the usefulness of cellphone banking in situations where there is a lack of internet banking facilitating conditions. Marketing managers should also take note that cellphone banking users do not draw on internet banking trust and risk perceptions to form perceptions of the usefulness of cellphone banking. It may be that they only consider trust and risk perceptions directly related to cellphone banking. This conclusion emphasises the importance of cellphone banking trust and risk perceptions in cellphone banking continuance of use behaviour. Finally, the study quantified the influence of internet banking cognitive evaluations on the formation of intention to use and the continuance of use intention of cellphone banking. Considering this result, the study provides valuable information for marketing managers of cellphone services. The methodology employed can also guide future studies exploring cross-channel evaluations in a multi-channel marketing context.
AFRIKAANSE OPSOMMING: Die sameloop van maklike toegang tot die Internet, die ontwikkeling van draadlose tegnologieë en die beskikbaarheid van mobiele toestelle het gelei tot ʼn nuwe transaksieparadigma, naamlik mobiele handel. Aangesien bankaktiwiteite maklik digitiseer en outomatiseer, het banke die mobiele verrigtingsgeleentheid aangegryp en selfoonbankaanwendings ontwikkel wat vir bankkliënte meer buigsaamheid as internetbankdienste inhou wat ‘enige plek, enige tyd’ bankwese betref. Gegewe die voordele van multikanaal gebruik, is die ideaal vir banke dat kliënte wat internetbankdienste gebruik, ook selfoonbankdienste aanvaar en in die toekoms bly gebruik. Met die oog daarop om bemarkingsbestuurders by te staan in die ontwikkeling van bemarkingstrategieë om die gelyktydige gebruik van internet- en selfoonbankdienste te bevorder, ondersoek hierdie studie die invloed van kognitiewe evaluerings oor internetbankwese op die waargenome nuttigheid en waargenome maklike gebruik van selfoonbankdienste in die vorming van die gebruiksvoorneme en voortgesette gebruiksvoorneme ten opsigte van selfoonbankdienste. ʼn Literatuuroorsig het getoon dat twee verbruikersgedragsteorieë kruiskanaal kognitiewe evaluerings tussen die internetbankkanaal en selfoonbankkanaal kan voorlig, naamlik, Verwagtingsoordragteorie (“Expectation-transfer Theory”) en Status Quo Vooroordeel Teorie (“Status Quo Bias Theory”). In die konteks van hierdie studie kan Verwagtingsoordragteorie kruiskanaalevalueringsinergieë en dissinergieë van die internetbankkanaal na die selfoonbankkanaal toe verduidelik, terwyl Status Quo Vooroordeel Teorie slegs evaluerende dissinergieë stut. Hierdie teorieë belig internetbankoortuigings wat die waargenome nuttigheid en waargenome maklike gebruik van selfoonbankdienste kan beïnvloed. ʼn Konseptuele model van die vorming van die gebruiksvoorneme en voortgesette gebruiksvoorneme van selfoonbankdienste in ʼn internetbankkonteks is op grond van die literatuuroorsig ontwikkel. Met die oog daarop om die geldigheid van die model empiries te bepaal, is data van 678 gebruikers van slegs internet bankdienste en 491 gebruikers van internet sowel as selfoonbankdienste ingesamel. Die data wat tydens die empiriese fase van die studie ingesamel is, is met behulp van die strukturele vergelykingsmodelleringsagtewareprogram (“structural equations modelling” (SEM)) AMOS 20.0 analiseer. Volgens die resultate het die waargenome gerieflikheid en tydbesparing van internetbankwese die waargenome nuttigheid van selfoonbankdienste positief beïnvloed by gebruikers van beide internet en selfoonbankdienste. Hierteenoor het slegs die waargenome gerieflikheid van internetbankdienste die selfoonbankdiensnuttigheidswaarnemings van gebruikers van slegs internetbankdienste beïnvloed. Verder het internetbankdiensvertroue en risikowaarnemings slegs die selfoonbankdiensnuttigheid van die gebruikers van slegs internetbankdienste beïnvloed. Verwagtingsoordrag in beide kohorte is ook bevestig tussen die maklike gebruik persepsies van internetbankdienste en die waargenome maklike gebruik van selfoonbankdienste. Die resultate bevestig ook dat internetbankfasiliteringsomstandighede die waargenome nuttigheid van selfoonbankdienste negatief beïnvloed (manifestering van status quo vooroordeel). Die teoretiese bydrae van die studie blyk op drie vlakke. Eerstens brei die konseptuele model van kruiskanaal kognitiewe evaluerings die Tegnologie Aanvaardingsmodel (“Technology Acceptance Model” (TAM)) uit ten opsigte van oortuigings oor ʼn verwante tegnologie as die bepalers van waargenome nuttigheid en waargenome maklike gebruik. Die studie bied tweedens ook insigte in hoe kruiskanaal kognitiewe evaluerings die vorming van gebruiksvoorneme en voortgesette gebruiksvoorneme van selfoonbankdienste beïnvloed. Die studie identifiseer laastens ook addisionele verwagtingsoordrag- en status quo vooroordeel bronne in die multikanaalbemarkingskonteks. Die studie bied waardevolle insig oor internet – selfoonbankmultikanaal-verbruikersgedrag wat bestuurders in die ontwikkeling van selfoonbank-diensbemarkingstrategieë moet oorweeg. Om die oorskakeling van internetbankdienste na die gelyktydige gebruik van internet en selfoonbankdienste te fasiliteer, moet bestuurders van selfoonbankdienste verseker dat internetbankdienste betroubaar en risikovry is. Wat net so belangrik is, is dat selfoonbankwese as ʼn komplementêre kanaal tot internet bankwese bemark moet word. Die nuttigheid van selfoonbankwese moet, met ander woorde, beklemtoon word in situasies waar die kliënt nie naby ʼn rekenaar is vir internetbankgebruik nie of wanneer hy/sy nie die geld of tyd het om ʼn rekenaar vir internetbankdienste te gebruik nie. Laastens, om die aanvaarding van selfoonbankwese te versterk, moet bemarkingskommunikasiemateriaal die ooreenkomste tussen internet en selfoonbankwese op so ʼn wyse beklemtoon dat verwagtingsoordrag tussen die twee kanale gedragsvoornemens om selfoonbankdienste te aanvaar, beïnvloed. Verskeie aanbevelings spruit voort uit die resultate oor hoe die voortgesette gebruik van selfoonbankdienste verhoog kan word. Eerstens moet bemarkingskommunikasieboodskappe die gelyktydige gebruikers van internet en selfoonbankwese herinner waarom hulle selfoonbankdienste gebruik. Die belangrikste rede in hierdie verband is die nuttigheid van selfoonbankwese in situasies waar internetbankfasiliteringsomstandighede afwesig is. Bemarkingsbestuurders moet ook in ag neem dat selfoonbankgebruikers nie op internetbankvertroue en risikowaarnemings steun om persepsies oor die nuttigheid van selfoonbankwese te vorm nie. Hulle oorweeg waarskynlik net vertroue en risikopersepsies wat direk met selfoonbankdienste verband hou. Hierdie gevolgtrekking beklemtoon die belangrikheid van vertroue in selfoonbankdienste en riskowaarnemings in voortgesette selfoonbankgebruikgedrag. Laastens, die studie kwantifiseer die invloed van kognitiewe evaluering oor internetbankwese in die vorming van selfoonbankwese gebruiksvoorneme en voortgesette gebruiksvoorneme. Veral in die lig van hierdie resultaat bied die studie waardevolle inligting vir selfoonbankdiensbemarkingsbestuurders. Die metodes wat gebruik is, kan ook verdere studies waarin kruiskanaalevaluerings in ʼn multikanaal-bemarkingskonteks ondersoek word, rig.

Cette thèse est le fruit d'un partenariat entre la BL TVFE de NXP Semiconductors et l'ESIEE dans le cadre d'une thèse CIFRE. Le but est d'apporter une solution qui permette la réception de plusieurs canaux pour le câble. Ce sujet est lié à la problématique de numérisation large bande. Dans la première partie, nous faisons un état-de-l'art sur les convertisseurs analogiques-numériques (CAN), sur les architectures parallèles (entrelacement temporel et bancs de filtres hybrides (BFH)), et sur les méthodes d'échantillonnage (passe-bande et complexe). Puis, nous étudions une architecture composée d'un banc de filtres analogiques et un banc de CANs. Nous cherchons à réduire surtout le taux d'échantillonnage. Nous comparons notre solution à un CAN large bande performant, avec notre fonction de coût. L'un des avantages de cette architecture est que tous les composants sont faisables, même les CANs, et qu'il est possible d'éteindre des sous-bandes pour diminuer la consommation. Cette solution est intéressante pour le moment mais n'est pas compétitive en termes de consommation et de surface. Nous proposons une alternative dans la partie 3, avec les BFH. Nous étudions cette architecture, en gardant à l'esprit la faisabilité de la solution. Nous avons choisi un BFH à deux voies, avec un filtre analogique passe-bas et un passe-haut. Puis, nous proposons un algorithme d'optimisation des filtres de synthèse pour atteindre nos objectifs de distorsion et de réjection de repliement. Une identification des filtres analogiques est aussi présentée. Finalement, une réalisation physique prouve le concept et valide les limitations théoriques de cette architecture
This thesis is a partnership between the BL TVFE of NXP Semiconductors and ESIEE. Its goal is to provide a solution to multi-channel reception for cable network. This is linked to the problematic of broadband digitization. In the first part, the state-of-the art of ADCs, parallel architectures (TI and HFB) and sampling methods (bandpass sampling and complex sampling) is recalled. Then we study an architecture called RFFB with a bank of analog filters and a bank of ADCs. We try to reduce the constraints on ADCs, especially the sampling rate with the different sampling. We propose an interesting solution to broadband digitization and compare this solution to a challenging wideband ADC, using the cost function we introduce. This architecture has the major advantage that all the components are feasible, even the ADCs, and it is possible to switch-off subbands to save power. It could be a good solution at the present time but it is not competitive in terms of power consumption and surface. An alternative is proposed in Part 3, where we study Hybrid Filter Banks. It is interesting to study this architecture with realization feasibility in mind. This is why we select a 2-channel HFB with a lowpass filter and a highpass filter as analog filters. Then we propose an efficient optimization algorithm to find the best synthesis filters and reach our targets of distortion and aliasing rejection. An identification of analog filters is also suggested to cope with the issue of sensitivity to analog errors. Finally, a physical realization proves the concept of aliasing rejection and confirms the theoretical issues of this architecture

Abstract China’s outstanding growth performance of recent years, the ongoing liberalisation of its capital market, and its deepening integration into the world economy provide ample motivation for a deeper understanding of the country’s economic policy-making. This dissertation is an attempt to better understand monetary policy operations and transmission in this rapidly evolving situation. Monetary policy in China is unique compared to any other country in terms of both the available policy instruments and the policy environment. The policy regime is transitioning to a more market-orientated one, and presently the central bank uses a mixture of quantity-based and price-based instruments. These special features are addressed in this dissertation. The dissertation is comprised of four independent but related essays that empirically evaluate monetary policy implementation and the policy environment in China. The first essay examines the relevance of a quantity-based McCallum-type policy rule in achieving price stability. The findings are that deviations in money supply from the rule help to forecast price developments and thus underline the relation between money supply and prices in China. The second essay considers a wider selection of possible policy rules and examines the monetary policy implementation and instruments used by the central bank. Money supply and interest rate instruments are found to react differently to price and output developments. The interest rate instrument is gaining weight over time, which highlights China’s transition to a more market-based policy setting. The third essay utilises bank-level data to study monetary policy transmission and the existence of the bank lending channel in China. Changes in the reserve requirement ratio are found to affect bank lending in China in a similar manner as changes in interest rates. Different types of banks (by ownership) react differently to these changes, but no robust evidence of a bank lending channel is found. The fourth essay compares the economic dynamics in a DSGE modelling framework under the assumption that China can successfully rebalance its economy and achieve a lower savings rate and higher level of domestic consumption. The rebalancing does not notably affect the transmission of monetary policy shocks, but it does render the economy more resilient to technology shocks
Tiivistelmä Kiinan nopea talouskasvu, pääomamarkkinoiden avaaminen ja maan tiiviimpi kytkeytyminen maailmantalouteen ovat johtaneet siihen, että Kiinan talouspolitiikan ymmärtäminen on aiempaa tärkeämpää. Tämän väitöskirjan tavoitteena on perehtyä Kiinan rahapolitiikkatoimiin ja politiikan välittymiseen nopeasti muuttuvassa ympäristössä. Rahapolitiikka Kiinassa eroaa muiden maiden rahapolitiikasta niin käytössä olevien instrumenttien kuin politiikkaympäristönkin kannalta. Kiina on siirtymävaiheessa kohti markkinaperusteisempaa rahapolitiikkaa, ja tällä hetkellä maan keskuspankki käyttää sekä hinta- että määräperusteisia instrumentteja. Näitä erityispiirteitä tarkastellaan tähän väitöskirjaan sisältyvissä tutkimuksissa. Väitöskirja koostuu neljästä yksittäisestä mutta toisiinsa liittyvästä esseestä, joissa tarkastellaan empiirisesti rahapolitiikan toteutusta sekä politiikkaympäristöä Kiinassa. Ensimmäisessä esseessä käsitellään määräperusteisen McCallum-rahapolitiikkasäännön käyttökelpoisuutta hintavakaustavoitteen saavuttamisessa. Havaitut poikkeamat säännön suosittelemasta rahamäärän kasvusta parantavat inflaatioennusteita, mikä korostaa rahan tarjonnan ja hintakehityksen välistä suhdetta. Toisessa esseessä hyödynnetään useampia mahdollisia rahapolitiikkasääntöjä ja tarkastellaan rahapolitiikan toteutusta ja keskuspankin käyttämiä politiikkainstrumentteja. Rahan tarjonnan ja korkoinstrumentin havaitaan reagoivan eri tavoin hintakehitykseen ja tuotannon kasvuun. Korkoinstrumentin painoarvo kasvaa ajan kuluessa, mikä osoittaa Kiinan olevan siirtymässä kohti markkinaperusteisempaa politiikkaa. Kolmannessa esseessä hyödynnetään pankkikohtaista aineistoa ja tarkastellaan rahapolitiikan välittymistä ja pankkilainakanavan olemassaoloa. Keskuspankin varantovaatimusmuutosten havaitaan vaikuttavan pankkien lainanantoon samalla tavoin korkomuutosten kanssa. Omistustyypin mukaan jaoteltuna erilaiset pankit reagoivat eri tavoin rahapolitiikan muutoksiin. Tutkimuksessa ei kuitenkaan löydy vankkaa tukea pankkilainakanavan olemassaololle. Neljännessä esseessä tarkastellaan talouden dynamiikkaa DSGE-mallikehikossa olettaen, että Kiina onnistuu tasapainottamaan talouttaan niin, että säästämisaste laskee ja kotimaisen kulutuksen osuus taloudessa kasvaa. Tasapainottaminen ei merkittävästi vaikuta rahapolitiikkasokkien välittymiseen, mutta tekee taloudesta vähemmän herkän teknologiasokeille

This study contributes to the well-established efficiency literature with respect to transition economies and developing counties. Although bank efficiency has been a popular research area in both developed countries and less developed nations, it has been scarce in China mainly due to the lack of data. This study is considered as the first study that comprehensively investigates bank performance using multiple methodologies of financial ratio analysis and stochastic frontier analysis for the period of 1995-2005. The effects of a variety of governance changes have also been differentiated in order to providing policy recommendations for the on-going banking reform. Meanwhile, this study has addressed a number of methodological issues and has developed a more comprehensive stochastic distance function model by combining advantages of existing models, approaches, methods and procedures. Having experienced fundamental banking reforms for more than a quarter of century, the Chinese banking System has stridden towards a modem banking System with significant improvements in profitability, capitalization, and assets quality. Despite of these observed improvements, the banking system is still associated with relatively low profitability and capitalization, poor asset quality, and less liquidity, when benchmarking to 7 selected international renowned banks. One of the most impressive progresses has been the significant decrease in both outstanding NPLs balance and NPL ratio. However, it has noticed that the threat of NPLs problem to the economy as a whole remains unsolved. This study has rationalized economic foundations for the banking reform in China being the principal-agent theory and the budgetary constraint theory. The performance of Chinese banks has been improved and the estimated effîciency level is consistently at 75% in terms of technical efficiency, cost efficiency and profit efficiency. Employing the method of Berger et al. (2005), this study has jointly analyzed the static, selection and dynamic effects of governance changes. Joint-stock ownership has resulted in outstanding performance, while state ownership has been associated with low technical efficiency and profit efficiency but high cost efficiency. Foreign banks are more profit efficient but less cost and technical efficient (static effects). Foreign investors have rationally made their investment decisions by selecting more cost and technical efficient domestic banks, while less profitable domestic banks have been chosen for going public in line with government intension of reforming the unprofitable SOCBs (selection effects). Attracting foreign strategic investors and encouraging banks going public are two major partial privatization strategies, which have been generally proved as effective reform measures. The former tends to have positive impacts on technical efficiency and cost efficiency, while significant short-term gains in profit efficiency have faded in the long-term. The expected profit advantage of foreign ownership seems to take an even longer time to be realized. Going public strategy has resulted in performance improvement in the long-term after short-term losses (dynamic effects). We can not form a conclusion on whether the reform has succeeded, while what we can conclude is the reform is on the track with right direction. It is important to construct good corporate governance, but it is more important to ensure the good governance functioning. If those deep-rooted problems, such as government intervention and NPL problem, can not be dealt with properly in the near future, the chance of success is very small. Thus, our policy recommendations include consolidating up-to-date reform achievements, improving bank's managerial and operational skills, and reducing state's share in banks to lessen government interventions. Estimated efficiency is found to be sensitive to the differences in the definitions of outputs and inputs, especially in the presence of high level of NPLs. The income-based model is superior to the earning assets-based model in the estimation of technical efficiency. Similarly, profit efficiency appears to be more appropriate performance measures over cost efficiency. However, we suggest the use of multiple models and measures to reveal more valuable information. Moreover, in estimating cost function and alternative profit function, market average input prices are found to be more appropriate than banks' specific input prices.

Thesis (Ph. D.)--University of California, San Diego, 2005.
Title from first page of PDF file (viewed February 28, 2006). Available via ProQuest Digital Dissertations. Vita. Includes bibliographical references.

This thesis contributes to the understanding of how banks shift their supply of credit when confronted with uncertainty, regulatory supervision and macroprudential policies. The first chapter proposes a new index to detect the idiosyncratic uncertainty banks face at the bank-quarter level. I use machine learning and natural language processing on speeches made by bank management during quarterly earnings conference calls to develop the new measure. I find that higher uncertainty is associated with lower lending the next quarter and higher liquidity, suggesting active management of uncertainty. The second chapter explores how banks respond to supervision by window-dressing their balance sheets. In preparation for Europe’s 2014 Asset Quality Review (AQR), reviewed banks decreased their share of riskier securities and loans. After the AQR, banks reloaded riskier securities onto their balance sheets, but not riskier credit. In the third chapter, I study how the introduction of capital controls in Colombia affected domestic credit. The results point to complementarities in credit supply between domestic and foreign credit.
Esta tesis estudia los cambios en la oferta de crédito de los bancos cuando se enfrentan a incertidumbre, supervisión regulatoria y políticas macroprudenciales. El primer capítulo propone un nuevo índice para detectar la incertidumbre idiosincrática de los bancos a nivel trimestral. Para desarrollar la nueva medida, utilizo técnicas de aprendizaje de máquinas y procesamiento del lenguaje natural sobre los discursos trimestrales hechos por la gerencia de cada banco. Encuentro que una mayor incertidumbre está asociada con un menor préstamo el próximo trimestre y una mayor liquidez, lo que sugiere un manejo activo de la incertidumbre. El segundo capítulo explora cómo los bancos responden a la supervisión maquillando sus balances. En preparación para la revisión de calidad de activos (AQR) de 2014 en Europa, los bancos revisados redujeron su participación en bonos y préstamos riesgosos. Después del AQR, los bancos volvieron a adquirir bonos más riesgosos en sus balances, pero no créditos más arriesgados. En el tercer capítulo, estudio cómo la introducción de controles de capital en Colombia afectó el crédito doméstico. Los resultados apuntan a complementariedades entre la oferta de crédito domestico y externo.

During the recent Southeast Asian financial crisis, numerous banks failed quickly and unexpectedly. The devastating impacts of the crisis necessitate an effective bank monitoring system to prevent similar failures from repeating itself in the future. In particular, maintaining the stability of the financial system requires - among other things - effective early warning systems that allow for assessing bank soundness overtime more accurately. This study uses a unique data set provided by Bank Indonesia to examine the changing financial soundness of Indonesian banks during the normal and crisis periods. Bank Indonesia's non-public CAMEL rating data allow the use of a continuous bank soundness measure rather than ordinal or dichotomous measures used in previous discriminant analyses or logit and probit studies. These data and financial report data of 52 commercial banks over 18-quarter periods are used to construct panel data sets. Panel data analysis procedures are used to estimate models predicting bank soundness during normal and crisis economic conditions. The results indicate that during stable economic periods, all of the CAMEL components provide insights into the financial soundness of Indonesian banks. However, during Indonesia's crisis period, only one of the traditional CAMEL components - earnings - objectively discriminates among the supervisory ratings. The results also suggest that the role of unobserved variables representing individual bank characteristics (bank effects) and time variant factors (time effects) are important in determining bank soundness. Individual bank effects are important during both normal and crisis economic conditions. While they are not significant during stable periods, the time effects are particularly important during the crisis. This implies that bank soundness and risk profile varies across banks and across different economic conditions. In addition, theoretical analysis and the subsequent practical examinations suggest that panel data analysis technique incorporating bank and time effects results in early warning models that are superior to models resulting from classical ordinary least squares techniques. Hence, this study accomplishes three important goals. First, it provides early warning models applicable for normal and crisis economic conditions. Second, the study recognizes the fact that banks are heterogeneous; suggesting that "one measure fit to all" approach in banking supervision must be implemented with care. Third, the study provides evidence that business environment, especially changes in economic conditions, shapes the soundness of a bank. In addition, the study highlights the key role bank supervision plays as a "safe guard" of the financial system. Finally, the study also underscores the invaluable practical benefits gained from using empirical approach to support the well functioning supervisory system.

In the standardized air interface for third generation mobile communication systems, WCDMA release 5, a concept called High Speed Downlink Packet Access (HSDPA) is introduced. HSDPA enables faster transmissions from base stations to mobile users by using a shared, high-capacity channel called the High-Speed Downlink Shared Channel (HS-DSCH) that is designed for best effort services. The HS-DSCH is developed for usage in the frequency band licensed for third generation communication systems. As the use of licensed frequency bands is costly it may be interesting to make use of the unlicensed frequency bands at 2.4 GHz and 5 GHz with higher interference and stricter regulations. Using HS- DSCH in unlicensed frequency bands would lead to smaller costs and a new kind of usage of the HS-DSCH.

In order to transmit in unlicensed frequency bands, some requirements set up by the public authorities must be followed. This means that the maximum transmit power used by the HS-DSCH must be decreased and, on the 5 GHz frequency band, that features to avoid disturbing radar systems have to be implemented. The HS- DSCH has a bandwidth of 5 MHz. To use the available frequency spectra more efficiently, multiple carriers could be used.

Wireless Local Area Networks (WLANs) are the most common way to transfer data in unlicensed frequency bands today. Assessments and simulations of WLAN and the HS-DSCH in unlicensed frequency bands show that WLAN can provide higher bitrates than the HS-DSCH for low loads. HS-DSCH can however provide a larger coverage per base station, and is more bandwidth effective than WLAN. Using a larger bandwidth is necessary for HS-DSCH to compete with WLAN, which uses a bandwidth approximately four times as large as the HS-DSCH bandwidth. The usage of the HS-DSCH in unlicensed frequency bands also has the advantage that the services provided by the third generation communication systems can be accessed easily.

Modem telecommunication services require increasing data rates for both mobile and fixed applications. At frequencies in the range 2.5 GHz to 6 GHz physical constraints on the size of equipment result in antenna with moderate directivity typically with an antenna beam width of 20 degrees or greater. Thus building and ground clutter is present within the first Fresnel zones of the antenna system which gives rise to multi-path propagation. This multi-path propagation (average delay and RMS delay spread) has been investigated using a wideband FMCW channel sounder that is capable of operation at a number of frequencies. The channel sounder has been based upon a parallel architecture sounder operating within the 2 GHz band with a number of frequency conversion modules to translate operation to the new frequency bands under study. Two primary configurations have been explored. In the first of these, propagation has been measured simultaneously within the 2.5 GHz, 3.4 GHz and 5.7 GHz bands. This is believed to be novel and original. In the second configuration four parallel channels operating within the 5.7 GHz band may be operated simultaneously. This configuration supports multiple antennas at the receiver. To support the work in the bands from 2.5 GHz to 6 GHz wideband discone antenna have been designed and fabricated. A system to provide relative gain and phase calibration for up to four antennas has been developed and demonstrated. This is also believed to represent a novel method of performing antenna and array calibration. Finally, the frequency converters have been used in conjunction with additional components to provide an FMCพ sounder operating within the 60 GHz Oxygen absorption band. This work is novel in that up to 1 GHz of spectrum can be swept. To support this work a significant number of microwave components have been designed and developed. In particular a novel wide band balanced X3 multiplier and a novel impedance-matched amplitude-equaliser (to provide amplifier gain-slope equalisation) has been developed. Channel soundings have been performed at three frequencies simultaneously using band specific and common antenna. The average delay and RMS delay spread have been demonstrated to be essentially frequency independent for the environments evaluated.

This paper uses quarterly Swedish bank-level data from 1999 to 2019 in an attempt to study the existence of a bank lending channel in Sweden. The bank lending channel is concerned with the role of credit in an economy, where it is argued that monetary policy can affect the real economy through a credit channel, in which banks shift their supply of loans to the public. The bank lending channel is hence part of the broader credit channel, where the external finance premium decides how large of an impact the bank lending channel actually has on the economy. Using a Vector Error Correction Model, the short- and long-run dynamics of the bank lending channel is observed in this paper. The paper finds statistically significant evidence for the existence of a bank lending channel in Sweden by primarily observing the Stockholm Interbank Offered Rate (STIBOR) and the supply of loans made by Swedish banks to the public. By using the Johansen test for cointegration, the paper estimates both the short- and long-run coefficients of the model. The long-run results are in line with the empirical literature, where STIBOR and real GDP are both statistically significant at the 1% level.

Software radios (SWR) have been proposed for wireless communication systems to enable them to operate according to incompatible wireless communication standards by implementing most analog functions in the digital section on software-reprogrammable hardware. However, this significantly increases the required computations for SWR functionality, mainly because of the digital front-end computationally intensive filtering functions, such as sample rate conversion (SRC), channelization, and equalization. For increasing the computational efficiency of SWR systems, two new SRC methods with better performance than conventional SRC methods are presented. In the first SRC method, we modify the conventional CIC filters to enable them to perform SRC on slightly oversampled signals efficiently. We also describe a SRC method with high efficiency for SRC by factors greater than unity at which SRC in SWR systems may be computationally demanding. This SRC method efficiently increases the sample rate of wideband signals, especially in SWR base station transmitters, by applying Lagrange interpolation for evaluating output samples hierarchically using a low-rate signal that is computed with low cost from the input signal. A new channelizer/synthesizer is also developed for extracting/combining frequency multiplexed channels in SWR transceivers. The efficiency of this channelizer/synthesizer, which uses modulated perfect reconstruction (PR) filter banks, is higher than polyphase filter banks (when applicable) for processing few channels, and significantly higher than discrete filter banks for processing any number of variable-bandwidth channels where polyphase filter banks are inapplicable. Because the available methods for designing modulated PR filter banks are inapplicable due to the required number of subchannels and stopband attenuation of the prototype filters, a new design method for these filter banks is introduced. This method is reliable and significantly faster than the existing methods. Modulated PR filter banks are also considered for implementing a frequency-domain block blind equalizer capable of equalizing SWR signals transmitted though channels with long impulse responses and severe intersymbol interference (ISI). This blind equalizer adapts by using separate sets of weights to correct for the magnitude and phase distortion of the channel. The adaptation of this blind equalizer is significantly more reliable and its computational requirements increase at a lower rate compared to conventional time-domain equalizers making it efficient for equalizing long channels that exhibit severe ISI.

The Sofala Bank in the western Mozambique Channel is an essential habitat for shallow-water penaeid shrimps. It supports an important multi-sector and -species fishery, with Fenneropenaeus indicus and Metapenaeus monoceros (banana shrimp) being the two main target species. Over the past decade this valuable resource has been declining, which has been attributed to environmental changes, but no conclusive evidence has been found. This PhD thesis aims to understand the interactive roles of biophysical processes on recruitment of banana shrimps, par ticularly their larvae on the Sofala Bank. It is hypothesized that shrimp larvae can be advected offshore by passing mesoscale eddies to regions where they are unable to survive and are thus lost. In the absence of both physical and biological observations, a modelling approach is used. A high-resolution, nested, coastal, Regional Ocean Modeling System (ROMS) of the Sofala Bank is developed. In general, the model agrees well with available observations and literature. The ROMS outputs and self-organizing map analysis indicate that the shelf circulation, structure and river plumes are strongly influenced by the highly energetic o_shore eddy activity. A biophysical, individual-based model (IBM) coupled to the ROMS was developed for early life stages of banana shrimps on the Sofala Bank. The IBM uses spawning patterns identified from analyses of both commercial and research survey data. Simulations indicate that shrimp larvae are lost offshore by entrainment in mesoscale eddies at inter- and intra-annual scales and eddies therefore are unlikely to produce a continuous declining in the catch. In contrast, these eddies induce onshore transport of larvae, promoting coastal settlement, compared with periods without eddies. Locations for simulated larval coastal settlement are identified: northern, central and southern. The roles of tides and larval diel vertical migration in influencing simulated larval settlement success was not conclusive; further research considering a selective tidal stream is needed. Simulated larvae were sensitive to low lethal temperature and river plumes. A conceptual model for the Sofala Bank circulation and another for the banana shrimps, early life history dynamics are proposed based on the results of this thesis.

This thesis first examines the role of banks in the transmission mechanism of monetary policy by focusing on the eight European new member States of Central and Eastern Europe over the 2004-2013 period. We specifically investigate the influence of monetary policy changes on bank lending activity and if this potential influence is contingent on bank characteristics, such as banks' size, capital, liquidity, risk factor and market power. Moreover, we focus on the prospective role of banks in the monetary policy transmission mechanism in order to reveal any clear trends in banks' lending behaviour during the 2008-2011 financial crisis. Secondly, we investigate the impact of a protracted period of low monetary policy rates on loosening of banks' credit standards regarding enterprises, households and consumer loans through concentrating on the nine Eurozone countries involved since the initiation of the Euro area Bank Lending Survey in the three distinct time frames of pre- (2002Q4-2008Q3), mid- (2008Q4-2010Q4) and post- (2011Q1-2014:Q4) financial crisis. Furthermore, we test the fundamental concept of the risk taking channel by examining excessive risk-taking behaviour by banks in stressed vs. non-stressed countries of the Eurozone. In an additional analysis, the efficacy of the European Central Bank's 3 year Long-Term Refinancing Operations is evaluated in great depth in order to determine whether banks' credit standards have been softened and the degree to which demand for loans has increased. Thirdly, we explore the financing structure of bank lending constrained Small and Medium Sized Enterprises in the eleven Eurozone countries by utilising firm-level data over the period of 2009 to 2014. We estimate if bank lending constrained firms demonstrate relatively more usage or requests for alternative financing. Additionally, a comprehensive investigation is presented by unveiling the impact and determinants of various financing constraints including credit lines, bank loans, trade credit and other lending on Eurozone firms. Furthermore, the notion of discouraged borrowers originally formulated by Kon and Storey (2003) is empirically evaluated. Finally, we present the conclusion of our research by further outlining its limitations and prospective scope for future studies.

Whilst, the reality of changing organizations is accepted, understanding about the rhetoric of change in organizations is still evolving. This thesis provides new insights into the rhetoric of change in organizations through addressing the following research aims. i. To establish a theoretical framework for classifying change. ii. To identify and analyse the actual rhetoric of change of senior management in the UK clearing banks. iii.To compare the actual rhetoric of change identified in the UK clearing banks against the theoretical framework for classifying change. iv. To develop an Actual Rhetoric of Change Framework. The Annual Reports and Internal Newspapers of Barclays, Lloyds, Midland and National Westminster Bank over the five years 1990 to 1994 were analysed using discourse analysis. This naturally occurring data contained the actual rhetoric of change. In terms of banking change, this thesis makes an original contribution to knowledge by identifying and analysing the actual rhetoric of change in banking. The thesis makes original contributions to knowledge about the rhetoric of changing organizations in two ways. Firstly the development of the literature based Change Classifications Framework. Secondly, through comparing the literature and the data, an Actual Rhetoric of Change Framework was developed. The Actual Rhetoric of Change Framework predicts that change will be depicted in organizations as being challenging, constant, coherent, contextualised and chronological.

Dans les environnements côtiers, les interactions entre les processus morphodynamiques, océanographiques et anthropiques (agissant sur différentes échelles de temps) contrôlent l'évolution des systèmes littoraux. Cette thèse est axée sur une échelle de temps séculaire afin de déterminer l'influence non seulement des activités humaines, mais aussi l'impact du changement climatique. Le long de la côte nord de la France, des mesures de niveau d'eau ont été effectuées depuis le début du 19ème siècle et conservées dans les archives du Service Hydrographique et Océanographique de la Marine (Shom). Parrallèlement à ces mesures tidales, des levés hydrographiques ont été effectués pour cartographier les fonds marins de cette zone côtière, caractérisée par la présence de nombreux bancs sableux, formant des corps sédimentaires massifs parallèles à subparallèles au rivage. Pour déterminer les tendances à long terme, la numérisation et l'analyse des documents historiques ont été réalisées. Ceci a permis de reconstituer les variations du niveau de la mer à Dunkerque et Calais, et d'évaluer les changements de la morphologie et de la position des bancs sableux. A partir de ces séries inédites, l'étude de l'évolution des niveaux marins moyens et des composantes de marée a révélé des changements significatifs. De plus, l'évolution bathymétrique a montré des variations morphologiques importantes depuis le 19ème siècle, qui sont en grande partie dues à la mobilité des bancs sableux. Afin d'étudier l'influence des changements morphologiques sur les processus hydrodynamiques, une modélisation numérique de la propagation de la houle et de la circulation tidale a été réalisée à l'aide de module de la chaîne de calcul TELEMAC. Dans un contexte d'érosion sédimentaire, une accélération des courants et une augmentation de la hauteur des vagues le long du rivage sont détectées. Inversement, dans un contexte d'accumulation sédimentaire, nos résultats mettent en évidence une diminution de la vitesse des courants et une plus grande dissipation de l'énergie des vagues dans les petits-fonds. Cette étude souligne le rôle des rétroactions morphologiques entre l'hydrodynamique côtière et la morphologie du littoral. L'identification de ces mécanismes à une échelle de temps séculaire est essentielle pour évaluer les facteurs potentiels des changements côtiers
In coastal environment, interactions between morphodynamic, oceanographic and anthropic processes (acting over different timescales) control coastal systems evolution. This thesis is focused on long-term trends to determine the influence not only of human activities, but also the impact of climate change. Along the Northern coast of France, water level measurements were carried out since the early 19th century and tidal records were stored in the French Hydrographic Service (Shom) archives. At the same time that these measurements were conducted, hydrographic surveys were made for mapping the seabed of the coastal zone where tidal sand banks are common, forming linear shore-parallel or slightly oblique massive sand bodies. To determine long-term trends, digitization and analysis of these historical records were undertaken, enabling to reconstruct past sea-level changes and assess changes in sand bank morphology and position. Analysis of long tidal records suggests significant changes in tidal levels and a strong variability in the main tidal constituents. Moreover, analyses of bathymetry changes shows significant morphological variations across the shoreface since the 19th century, which are largely due to sand bank mobility. Numerical modelling of wave propagation and tidal circulation was performed using the TELEMAC suite of models to relate the observed changes in shoreface and nearshore morphology with possible variations in hydrodynamic processes. Under eroding conditions, an acceleration of tidal currents and an increase in wave height are obtained. Conversely, accumulation leads to an hydrodynamic regime weakening with a decrease in current velocity and to more wave energy dissipation in the nearshore. This study highlights the role of morphological feedbacks between nearshore morphology and coastal hydrodynamics. The identification of these feedbacks mechanisms at a secular time scale is important to assess potential drivers of coastal changes

Thesis (MTech (Information Technology))--Cape Peninsula University of Technology, 2009
The objective of this research project was to provide an answer to the question: 'Which access channel is the most appropriate for mobile applications?' This question is posed by providers of mobile banking services and providers of mobile banking applications alike.

This thesis reports on phases 1 and 2 (Matsuura and Townsend, 2004a, 2004b, 2004c) of an ongoing laboratory study of a novel form of streambank protection structure. 'Barbs' are groin-like structures designed to protect the (usually unstable) outside-bank regions of channel bends by actively redirecting flow away from the outside-bank. These low-profile, rock-fill structures have trapezoidal-shaped cross-sections and point upstream into the direction of flow. Their overall length typically extends one-quarter way across the channel, and are comprised of 'key' and 'weir' sections. The former, which is set back into the channel bank material, slopes downwards at 1V:1.5H to meet the low-profile weir section that extends into the stream. The crest of the weir section, the 'key' end of which should not exceed the channel-forming flow level (typically taken as the 1.5-year flow event), should have a mild positive slope (<1 V:5H) towards the 'stream' end for proper operation, (USDA 1999). By disrupting near-bank velocity gradients, barbs promote sediment deposition along the eroding outside-bank region. Their presence also modifies the bend's 'helicoidal'-type flow pattern such that secondary currents, that would otherwise attack the outside-bank, are redirected towards the center of the channel. (Abstract shortened by UMI.)

Against the background of growing competition in the global marketplace, understanding customers, is a significant aspect of marketing. In the search for competitive advantage, there is a need to measure service quality to better understand its antecedents and consequences, and establish methods for its improvement. In the Libyan economy, the banking sector is one of the most important. Its significance increased after the 2003 lifting of the United Nations sanction. This was followed by entry to the sector of a number of domestic and multinational firms. Despite this increased competition, domestic banks are still widely considered to suffer from low levels of service quality. The main purpose of this study is to evaluate the actual level of service quality provided by Libyan public commercial banks as perceived by their customers. A modified SERVQUAL model was developed to measure service quality in Libyan commercial public banks. The resulting instrument is intended to help these banks to measure their service quality and focus on the service quality dimensions of most importance to their customers. It also aimed to gain an understanding of cultural and environmental influences on service quality in the Libyan banking sector, and their effect on banking management practices. It is also expected that this instrument, and its results, will contribute to future research into service quality. The findings of the present study have produced some important results. Firstly, the level of service quality offered by the Libyan public commercial banks as it was perceived by their customers was relatively high. Secondly, the theoretical five-factor structure of the SERVQUAL model was not confirmed in the Libyan banking context, and the service quality structure in the Libyan context appears to be four-dimensional. Furthermore, the study offers suggestions to banking managers to allocate their resources more efficiently to the most important dimensions, i. e. reliability and tangibles, to improve service quality, since the factor analysis indicates that these are the most important dimensions to customers. Finally, reflections on the methods used to modify SERVQUAL to make it more sensitive to a particular cultural context have implications for future researchers in terms of methodology, method and data analysis.

Background: Stress tests have been increasingly used as a part of the supervisory tool by national regulators after the financial crisis, which can also be used to conduct authorities’ supervisory for determining bank capital levels, assessing the health of a bank. Purpose: The main purpose of this study is to assess whether some micro factors play important roles on the changes of Common Equity Tier One Capital Ratio (between the bank accounting value and the stress testing results under the adverse scenarios).  Our secondary purpose is to investigate if our empirical results will help to provide some theoretical suggestions to regulators when they exercise stress tests.   Method: An empirical analysis by using Panel Data, introducing GARCH model to measure volatility.   Empirical foundation: The results of EU-wide stress tests and bank financial statements   Conclusion: The coefficient associated with non-performing loans to total loans is positively significant and the coefficient associated with bank size is negatively significant.  In addition, the financial system of strong banks is better to absorb financial shocks. These findings are useful, as banks is a reflection of the financial stability of an economic entity, we can use these findings as another reason to pay attention to the process of the stress testing rather just stress testing results.

This study quantifies the erosion of banks of a river which are subjected to an experimental regime of diverse vegetative parameters. The main aspect of research is a spatial and temporal analysis of erosion under banks with natural vegetation, a cultivated wetland grass, denuded banks, and banks under the initial process of secondary succession. Two major spatial components of a river bank are identified relating to the moisture profile , prevalent at ambient flow levels. Comparisons are made on the rates of erosion during five temporal phases identified as of significance to riverbank erosion, prevalent hydrology and seasonality of plant growth in a temperate country. A process of slow but continuous : 'undercutting in the toe-region of naturally vegetated banks devoid of semi-aquatic fringe vegetation is identified. An attempt is made to identify the effects on bank stability of colonisation of a bare bank by a wetland grass from seedling to maturity. The currently recommended practice of encouragement of secondary succession on banks is studied with comparisons on changes of erosion rates over a period of 25 months. Pioneer colonisers, are identified. The effects of denudation on bank soil stability are monitored. A series of comparisons of erosion under the various vegetated and denuded banks are carried out in a range of possible permutations based on the defined spatial and temporal aspects. A subsidiary study attempts to quantify the effects of bank vegetation of significance in civil engineering practice. The need to quantify the effects of non-structural modes of bank lining in terms of structural engineering terminology is identified. Bank shear strength in situ, its variation on the bank profile with variations of moisture content is studied. The role of roots of bank vegetation with special reference to possible effects on bank shear strength is addressed. It is concluded that there is no clear correlation between shear strength and erosion. Shear strength of the upper bank as measured in situ, by a shear vane, is reduced subject to a long period of submergence. Th e presence of bank vegetation may compensate for any reduction in shear strength in terms of critical bank stability. The need to identify other functions of roots, in relation to bank stability rather than shear strength alone, is identified. The presence of the phyllo sphere as a skeletal yet effective physical barrier between the bank and the water is identified as the main negator of winter erosion on vegetated banks.

The amount and distribution of mixing and entrainment that the overflows across the Greenland-Scotland Ridge encounter influence the ventilation of the deep North Atlantic. Constituting about 30% of the total overflow (about 6 Sv) across the Greenland-Scotland Ridge, the continuous, swift overflow through the deepest passage from the Nordic Seas to the North Atlantic Ocean, the Faroe Bank Channel, is a major overflow in the region. The mixing processes of the Faroe Bank Channel overflow are explored by combining results from observations, including the first direct turbulence measurements, numerical simulations of the overflow, and an idealized process study. The observations show an overflow characterized by strong lateral variability in entrainment and mixing, a transverse circulation actively diluting the bottom layer, and a pronounced vertical structure composed of an about 100m thick stratified interface and a comparably thick well-mixed bottom layer. The turbulent overflow is associated with intense mixing and enhanced turbulent dissipation rate near the bottom and at the plumeambient interface, but with a quiescent core. Results from numerical simulations of the overflow with second order turbulence closures are compared to the observations. Turbulent dissipation rate and eddy diffusivity profiles inferred from the observations are used in refining the parameters of the turbulence closure. In the bottom-most 50-60 m, where the Richardson number is small and the production of turbulent kinetic energy is well-resolved, the model reproduces the observed vertical structure of enhanced dissipation rate and eddy diffusivity exceptionally well. In the interfacial layer and above the plume-ambient interface, however, the model does not resolve the mixing. A further investigation of the observations, addressing the role of the transverse circulation and internal waves in mixing in the stratified interface, shows that the transverse circulation effectively contributes to mixing of the overflow plume. Dissipation rates are more than doubled in the interfacial layer due to the transverse flow. In the ambient above the overflow plume, internal wave breaking is the dominant mechanism for dissipation of turbulent energy. In the interfacial  layer the main mechanism of mixing is the shear-instability and entrainment associated with the swift gravity current, enhanced by the secondary circulation. However, the internal wave continuum is energetic in the interfacial layer and may contribute to mixing. To investigate the influence of unresolved small scale topography on the flow of a stratified fluid, a 2-m resolution, non-hydrostatic, three-dimensional numerical model is used. The drag and associated mixing on the stratified flow over real, 1-m resolution, complex topography (interpolated to model resolution) are studied. The results show that a significant drag can be exerted on the flow of a stratified layer overlaying a well-mixed layer (resembling the bottom and interfacial layer of the Faroe Bank Channel overflow) over rough topography. A parameterization of the internal wave drag is developed and implemented, and provides satisfactory results in terms of the domain integrated turbulent kinetic energy levels.

Between 2007 and 2009, taxpayers paid $700 billion to bail out failing U.S. banks. The purpose of this single case study was to explore strategies that leaders of a successful U.S. bank used to identify efficiency changes occurring during the financial crisis. The target population of this study included 6 bank leaders located in San Bernardino, California, who occupied a managerial role in a successful U.S. bank during a financial crisis, had experience with the efficiency changes that occurred during a financial crisis, and developed and implemented strategies to identify efficiency changes that took place during a financial crisis. The conceptual framework for this study was the theory of economic efficiency. Data consisted of semistructured interviews, annual fiscal reports, and proxy statements. All interpretations of the data were subjected to member checking to ensure trustworthiness of interpretations. Yin's method of qualitative data analysis was adopted, which consisted of five sequential steps: compiling the data, disassembling the data, reassembling the data, interpreting the meaning of the data, and drawing conclusions from the data. Based on the methodological triangulation of the data collected, 3 of the main themes that emerged were management strategies, application of digital technology, and growth maximization and risky loan elimination. The implications for positive social change include the potential to avoid bank failures in the future, resulting in a stronger and more robust economy, thus sparing taxpayers the burden of bailing out failing banks.

This research attempts to empirically examine the bank-lending channel in monetary policy transmission in Rwanda, using quarterly data for the period 1996Q1 to 2011Q4. The responses of the loans supply, real output, prices, and deposits to monetary policy innovations were investigated in this research, using impulse response functions and variance decompositions obtained from a Vector Autoregressive model (VAR). Estimation results revealed that the bank lending channel in Rwanda is less effective. The findings suggest that although monetary policies working through interest rates have a significant effect on bank loans, loans appear to not influence the real output level. As in other developing economies, the financial sector in Rwanda is still weak. As a result of the absence of long- term investment, bank customers bear the risk associated with the poor quality of loans in addition to the risk associated with high and variable inflation. These are likely to hamper the monetary policy transmission mechanism.

This item is only available in print in the UCF Libraries. If this is your Honors Thesis, you can help us make it available online for use by researchers around the world by following the instructions on the distribution consent form at http://library.ucf
Bachelors
Business Administration
Economics

Thesis (Ph. D.)--Massachusetts Institute of Technology, Dept. of Earth, Atmospheric, and Planetary Sciences, 1992.
Title as it appears in the M.I.T. Graduate List, June 1992: Variability of currents in Great South Channel and Georges Bank, observation and modeling.
Includes bibliographical references (leaves 260-270).
by Changsheng Chen.
Ph.D.

Increased sediment loads within river catchments have well-documented detrimental effects on water quality and catchment management plans are required to address reduction and mitigation of these problems. In order to do this it is essential that tools are available that deliver reliable sediment generation data at appropriate temporal and spatial scales. Currently, most sediment generation models do not include bank erosion individually as a sediment source. Therefore, to enable improved accuracy in predictions of future sediment pressures under environmental change, explicit modelling of the rates of sediment production by the bank erosion is required to provide a more complete representation of the catchment sediment budget. In this study, an existing prototype national bank erosion index has been refined. Using Geographical Information Systems (GIS) digitised overlays, channel migration rates were calculated for several UK catchments. Relationships between the rate of channel bank erosion and factors controlling the rates of channel migration were investigated, including channel sinuosity, slope, upstream catchment area, and restriction of migration due to valley width. Significant correlations between bank erosion and sinuosity, upstream area and channel confinement were observed. The non-linear influence of channel planform geometry (curvature and sinuosity) on migration rates was further investigated using an existing meander migration model. A new bank erosion model was developed to incorporate the influence of both channel confinement and sinuosity. As the model incorporates the key physical controls on bank erosion, hence it is expected that it will have wide applicability in catchment- to national-scale bank erosion assessment. A computationally efficient catchment routing model was developed. Data output from a newly developed catchment overland sediment and runoff estimation model (ADAS APT) was used as input to the routing model. The newly developed bank erosion model and an existing floodplain sedimentation model were incorporated within the routing methodology to provide a catchment sediment budget model. The model was applied to the Exe catchment, Devon, UK and validated against observational data. Model estimations of annual sediment generation through bank erosion, sediment deposition on floodplains, and sediment load at the catchment outlet were within the range of observed values. The catchment sediment budget model developed in this thesis provides a more comprehensive representation of catchment sediment processes than existing alternative methodologies.

Large ice blocks containing enough sediment to be denser than sea water form in the Minas Basin of the Bay of Fundy. The timing of ice block formation and ice block composition were monitored to improve understanding of the potential threat to tidal power generators posed by collision with ice blocks. Large blocks are produced from ice cliffs that form when anchored ice obstructs tidal channels and decreases flow speed. Decreased flow causes the channel cross-sectional area to decrease. In 2012, the Kennetcook River cross- sectional area decreased by 21% due to the formation of ice cliffs. Large ice blocks separated from the walls during the two spring tides following a 20-day time lag of the minimum air temperature. Ten percent of sampled ice blocks were denser than freshwater. Four of twelve ice cores collected from the ice cliffs along the Kennetcook River contained enough sediment to become denser than seawater.

碩士
世新大學
經濟學研究所(含碩專班)
96
This research examines panel data for Taiwanese banks during the period 2002 Q 1-2007Q 4 to study the relationship between the change rate of bank loan and the overnight interbank interest rate. Classifying the banks using five different standards, the results are as follows. For banks with a low capital- asset ratio or low assets and non-financial companies, the relationship between the growth rate in the overnight interbank interest rate and bank loans is significantly negative. In contrast, banks with a higher capital- asset ratio or higher assets and financial companies do not show this relationship. The relationship between the growth rate of securities and bank loans is significantly negative for low capital- asset ratio or high asset banks. Additionally, the funds that banks borrow from the market positively affect bank loans after controlling for other factors. This research shows empirically that monetary policy (the interbank interest rate) has different effects on bank loans depending on the characteristics of the bank.

碩士
國立臺灣大學
經濟學研究所
97
In general, economists agree that money is neutral in the short run, but there is no consensus between them as to how monetary transmission mechanism works. Keynesians and Monetarists tend to emphasize on liquidity, they categorize assets into money and other nonmoney financial assets called bond. Under the assumption of perfect market, only goods market and money market need to be settled, bond market will automatically clear according to walras’ law. This simplified assumption leads to two major conclusions: money affects economy via interest, that is, financial system is a veil; and any massive financial disorder won’t cause any real effects. During 1930s Great Depression, 1990-1992 recession, and 2007 subprime crisis, evidence were found that financial systems have real effects. Lately many economists devote themselves to relaxing perfect capital market assumption by considering imperfect information theory, resulting in the so called “credit view”. In this thesis, I utilize a unique survey data that measures banks’ lending standard as a proxy for availability of bank credit. Data for both commercial loan and residential mortgage were considered individually. As to model specification, threshold autoregressive and vector autoregressive were used to review various hypotheses predicted by the credit view. As a result, there exists a threshold effect in commercial loan market when variable for monetary policy substance were used as threshold variable. In contraction regime, lending standard affects loan significantly; and when in monetary expansion regime, it affects loan insignificantly. As for mortgage market, there is no threshold effect. Commercial loan market is supportive of credit view, while mortgage market is supportive of liquidity view. In vector autoregressive, a phenomenon called “flight to quality” shared by credit view was presented, but there is no evidence suggesting financial variable as accelerator, which contradicted the credit view.

碩士
大同工學院
資訊工程研究所
82
In this thesis, a new approach is presented for the design of 1-D and 2-D two-channel FIR filter banks employing linear-phase filters. For the design of perfect reconstruction (PR) system, we first design one of the analysis filter first using general least-squares approach, and formulate the design problem as a quadratic programing problem with linear constraints. Then the Lagrange multiplier approach is used to obtain the closed- form solution for the other of the analysis filter pair. Although this approach can find a PR filter banks which can yield high quality coding system at low bit rates, the filter bank's operation requires numerous multiplications and additions. Multiplicaton, in particular, is extremely time consuming. So, if a multiplication operation could be replaced by only a few additions or subtractions, then the complexity of the entire filter bank could be reduced quite dramatically, such that a fast real-time system becomes feasible. In this thesis, the Lagrange multiplier approach associating with a tree search algorithm is used iteratively. For each branch of the tree, the Lagrange multiplier approach is used to optimize the remaining unquantized coefficients of the designed filters. Examples including 1-D and 2-D design are presented to demonstrate the usefulness and effectiveness of the approach.