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1
Guerrero, Leon. "Valuation of Over-The-Counter (OTC) Derivatives with Collateralization." Master's thesis, University of Central Florida, 2013. http://digital.library.ucf.edu/cdm/ref/collection/ETD/id/5751.
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Collateralization in over-the-counter (OTC) derivatives markets has grown rapidly over the past decade, and even faster in the past few years, due to the impact of the recent financial crisis and the particularly important attention to the counterparty credit risk in derivatives contracts. The addition of collateralization to such contracts significantly reduces the counterparty credit risk and allows to offset liabilities in case of default. We study the problem of valuation of OTC derivatives with payoff in a single currency and with single underlying asset for the cases of zero, partial, and perfect collateralization. We assume the derivative is traded between two default-free counterparties and analyze the impact of collateralization on the fair present value of the derivative. We establish a uniform generalized derivative pricing framework for the three cases of collateralization and show how different approaches to pricing turn out to be consistent. We then generalize the results to include multi-asset and cross-currency arguments, where the underlying and the derivative are in some domestic currency, but the collateral is posted in a foreign currency. We show that the results for the single currency, multi-asset case are consistent with those obtained for the single currency, single asset case.<br>M.S.<br>Masters<br>Mathematics<br>Sciences<br>Mathematical Science; Industrial Mathematics
2
Goulding, William Ph D. Sloan School of Management. "Regulation of off-balance sheet exposures and pricing of over-the-counter derivatives." Thesis, Massachusetts Institute of Technology, 2019. https://hdl.handle.net/1721.1/123380.
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Thesis: S.M. in Management Research, Massachusetts Institute of Technology, Sloan School of Management, 2019<br>Cataloged from PDF version of thesis.<br>Includes bibliographical references (pages 23-24).<br>In the post-crisis period substantial attention has been placed on regulation of exposures held off balance sheet by large banks. I analyze the effect on equity holders of such regulation. While requiring banks to hold capital against their on balance sheet exposures largely doses not perturb equity holder valuation capital held against off balance sheet exposures decreases the equity claim by generating a deleveraging effect when the balance sheet is expanded. Shareholders command a premium to compensate for the change in the value of their claim leading to a deviation of prices of redundant derivative claims from their replicating portfolios. Importantly, this effect does not appear under a standard capital ratio.<br>by William Goulding.<br>S.M. in Management Research<br>S.M.inManagementResearch Massachusetts Institute of Technology, Sloan School of Management
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GROSSULE, EDOARDO. "LA NUOVA DISCIPLINA DEI CONTRATTI DERIVATI OVER THE COUNTER." Doctoral thesis, Università Cattolica del Sacro Cuore, 2015. http://hdl.handle.net/10280/6136.
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Il presente lavoro si propone di analizzare in una prospettiva funzionale la nuova disciplina dei contratti derivati over the counter introdotta in Europa con il Regolamento 648/2012 (EMIR) e in USA con il Dodd-Frank Act, con l’obbiettivo di metterne in luce punti di forza e di debolezza.
Per perseguire compiutamente detto obiettivo, la tesi propone un percorso logico che parte dall’approfondimento delle cause economico-giuridiche che hanno favorito il propagarsi degli effetti negativi della crisi, che successivamente si sofferma sulle possibili risposte normative ai problemi posti dagli strumenti derivati. Infine, l’analisi si termina sottolineando gli aspetti problematici legati all’effettività della nuova disciplina, soprattutto alla luce delle policy dynamic che si sviluppano intorno al lungo procedimento di approvazione di norme complesse.<br>This dissertation aims at analyzing, with a functional approach, the new regulations of over the counter derivatives introduced in Europe with the 648/2012 Regulation (EMIR) and in the US under the Dodd-Frank Act, with the goal to underlying the strengths and weaknesses.
To fully achieve this objective, the thesis proposes a logical path that starts from the deepening of economic and legal causes that have favored the spread of the negative effects of the crisis, then focuses on possible regulatory responses to the problems posed by derivatives. Finally, the analysis ends pointing out the problematic aspects related to the effectiveness of the new rules, especially in light of the policy dynamic developed during the long process of approval of these complex rules.
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GROSSULE, EDOARDO. "LA NUOVA DISCIPLINA DEI CONTRATTI DERIVATI OVER THE COUNTER." Doctoral thesis, Università Cattolica del Sacro Cuore, 2015. http://hdl.handle.net/10280/6136.
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Il presente lavoro si propone di analizzare in una prospettiva funzionale la nuova disciplina dei contratti derivati over the counter introdotta in Europa con il Regolamento 648/2012 (EMIR) e in USA con il Dodd-Frank Act, con l’obbiettivo di metterne in luce punti di forza e di debolezza.
Per perseguire compiutamente detto obiettivo, la tesi propone un percorso logico che parte dall’approfondimento delle cause economico-giuridiche che hanno favorito il propagarsi degli effetti negativi della crisi, che successivamente si sofferma sulle possibili risposte normative ai problemi posti dagli strumenti derivati. Infine, l’analisi si termina sottolineando gli aspetti problematici legati all’effettività della nuova disciplina, soprattutto alla luce delle policy dynamic che si sviluppano intorno al lungo procedimento di approvazione di norme complesse.<br>This dissertation aims at analyzing, with a functional approach, the new regulations of over the counter derivatives introduced in Europe with the 648/2012 Regulation (EMIR) and in the US under the Dodd-Frank Act, with the goal to underlying the strengths and weaknesses.
To fully achieve this objective, the thesis proposes a logical path that starts from the deepening of economic and legal causes that have favored the spread of the negative effects of the crisis, then focuses on possible regulatory responses to the problems posed by derivatives. Finally, the analysis ends pointing out the problematic aspects related to the effectiveness of the new rules, especially in light of the policy dynamic developed during the long process of approval of these complex rules.
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Nordberg, Marcus. "The Viability of Cluster Based Representations for Classification of Over the Counter Derivative Populations." Thesis, KTH, Skolan för datavetenskap och kommunikation (CSC), 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-210418.
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A population of financial derivatives can be compressed if a subset of derivatives yield a net cash flow that lies within a given tolerance level between the parties involved. To conduct a correct population compression, it is essential that all derivatives of the involved parties are present in the derivative set. The current state-of-the-art to ensure this is to have analysts with domain expertise analyzing the populations with the use of assisting tools. The purpose of this project was to automate this process through the use of machine learning classification. Different ways of using clustering for representing a collection of derivatives was implemented and evaluated. The first representation derives from a clustering of all derivatives across populations, describing the distribution of the derivatives across the clusters. A second representation uses the previously mentioned clustering to instead find the distance from a population to all the clusters to form a vector. These representations were compared to two naive representations, one where the mean derivative of a population is used as representation and one where a random clustering is used to find a distribution. The representations were evaluated through classification, using three different classification models (Support Vector Machine, Decision Tree, and a Naive Bayes' Classifier). Different models were tested to examine whether the representations generalize across models. Both the proposed representations were found to be comparable with the naive representations, indicating that the representations fail to capture the characteristics of missing derivatives. The cause of this was found to be that populations of derivatives vary too much for clustering to be consistent enough across populations.<br>En population av finansiella derivat kan komprimeras om en delmängd av derivat ger ett nettokassaflöde mellan de berörda parterna som ligger inom ett givet toleransintervall. För att göra en korrekt kompression är det viktigt att alla derivat med de involverade parterna finns närvarande i derivatuppsättningen. I nuläget används analytiker som med domänkompetens och erfarenhet kan analysera populationen med hjälp utav verktyg. Syftet med detta projekt var att undersöka om det är möjligt att automatisera denna process genom att använda maskininlärningsklassificering. Olika sätt att använda klustring för att representera en samling derivat implementerades och utvärderades. Den första representationen klustrar alla derivat över populationer och representerar en population med en vektor som beskriver fördelningen av derivaten över kluster. En andra representation använder den tidigare nämnda klustringen för att istället hitta avståndet från populationen som ska representeras till alla kluster för att bilda en vektor. Dessa representationer jämfördes med två naiva representationer, en där det genomsnittliga derivatet av en population används som representation och en där en slumpmässig klustring används för att hitta en distribution likt den först beskrivna representationen. Representationerna utvärderades genom klassificering med tre olika klassificeringsmodeller (stödvektormaskiner, beslutsträd och en naiv Bayesklassificierare). Olika modeller testades för att utvärdera hur representationerna generaliserar över modeller. Båda de föreslagna representationerna visade sig prestera i linje med de naiva representationerna, vilket indikerar att representationerna misslyckas med att fånga kännetecknen för saknade derivat. Orsaken till detta tycks vara att varje uppsättning av derivat är så unik att klustring av derivaten blir för olik baserat på vilken uppsättning man använder.
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Moura, Jacqueline de Oliveira. "Gestão de risco nos mercados de bolsa e de balcão : como o Brasil superou a crise de derivativos." Master's thesis, Instituto Superior de Economia e Gestão, 2012. http://hdl.handle.net/10400.5/10773.
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Mestrado em Economia Internacional e Estudos Europeus<br>Esta dissertação procura compreender a dinâmica da gestão de riscos, especificamente no mercado de bolsa e de balcão, como um modelo fundamental para a integridade do sistema, evitando um impacto em cadeia e colocando em risco todo o sistema bancário. Será apresentado o modelo de clearing e gestão de risco no Brasil e sua contribuição para uma gestão de riscos mais eficiente e mais racional entre os vários agentes econômicos. Neste contexto, este trabalho avalia, especificamente, a polêmica que envolve operações com derivativos financeiro e o papel destes instrumentos na estabilidade do sistema financeiro internacional.
Em síntese, o objetivo deste estudo é analisar como o Brasil superou a crise dos instrumentos derivativos no mercado de bolsa e de balcão, com ênfase nas melhores práticas de gestão de risco.
Os resultados são positivos e motivam estudos futuros sobre o tema.<br>The study seeks to understand the dynamics of risk management, specifically in the stock-exchange and over-the-counter markets, as a primary model for system integrity, avoiding systemic impact and threats to the entire banking system. The Clearing and Risk Management models used in Brazil will be presented, as well as their contribution to a more efficient risk management and increased rational among the various economic agents. In this context, this paper specifically assesses the controversy involving transactions with financial derivatives and the role of these instruments regarding the stability of the international financial system.
In summary, the objective of this study is to analyze how Brazil overcame the crisis of derivative instruments in the stock exchange and over-the-counter markets, with emphasis on the best practices of risk management.
The results were positive and motivate future studies on this subject.
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Mafud, Pedro Darahem. "Racionalidade econômica e aspectos jurídicos dos derivativos: uma análise jurisprudencial." Universidade de São Paulo, 2014. http://www.teses.usp.br/teses/disponiveis/2/2132/tde-09122014-140414/.
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Este trabalho descreve o comportamento do Judiciário brasileiro com relação aos derivativos. Para tanto, exploramos decisões dos Tribunais de Justiça entre os anos de 2006 e 2010, conforme metodologia específica. Como suporte da pesquisa jurimétrica, analisamos os aspectos financeiros (utilidade e risco, espécies e estratégias, locais de negociação) e as características jurídicas (jogo e aposta, natureza contratual, valores mobiliários) dos derivativos.<br>This paper describes the position of the Brazilian courts on derivatives. For this purpose, we examine decisions rendered by the Courts of Appeals between the years of 2006 and 2010, in accordance with a specific methodology. As a foundation for jurimetrics research, we analyse the financial aspects (utility and risk, species and strategies, trade environment) and the legal characteristics (gambling, contractual nature, securities) of derivatives.
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Lee, Foong Mee, and n/a. "OTC derivatives filling the gaps in investor protection." University of Canberra. Law, 1998. http://erl.canberra.edu.au./public/adt-AUC20050523.105415.
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The dramatic growth of over-the-counter (OTC) derivatives in the last two decades
and the ever-expanding range of financial derivative have triggered concerns as
regards investor protection. These concerns have been exacerbated in recent times by
phenomenal losses sustained by several large corporations (including municipalities), in
the United States, Europe and Asia.
This thesis seeks to evaluate the capacity of the existing regulatory framework in
Australia to provide protection to participants trading in the OTC derivatives markets.
The evaluation is carried out in three parts: first, by identifying the gaps in the
Corporations Law regimes, second by determining the extent to which the general
criminal and consumer laws are capable of stepping into the breach left open by the
Corporations Law and third, by locating the gaps in the supervisory structure by
identify the participants who are not subject to any form of supervision by the
regulators.
The examination conducted in this thesis of the regimes in Chapters 7 and 8 of the
Corporations Law reveals a number of gaps in respect of investor protection.
Significantly, the OTC derivatives market, which is by far the larger market compared
to the on-exchange derivatives market, is generally unregulated by the Corporations
Law. Comparative analysis between the sanctions provisions in Chapters 7 and 8 of
the Corporations Law and those in the Crimes Act 1900 (NSW) and the Trade
Practices Act 1974 (Cth) indicated that whilst these latter Acts have the potential to
act as a substitute for some of the sanctions provisions in the Corporation Law, about
half of the sanctions provisions under the Corporations Law regime has no equivalent
provisions in these Acts. In consequence, some regulatory gaps remain. Gaps also
occur in the supervisory structure as the surveillance by regulators of market
participants is focused along institutional lines.
The failure of the law to provide adequate protection to investors trading in the OTC
derivatives markets is due primarily to an outdated, inflexible and inappropriate
regulatory framework which, when originally constructed, was not intended to
regulated the broad spectrum of financial derivatives. This thesis discusses the gaps
and deficiencies in the Corporations Law regime and also discusses the recent
recommendations made by the Wallis Committee and the Companies and Securities
Advisory Committee as well as the proposals of the Treasury in relation to investor
protection. It also provides some suggestions for law reform.
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Moreno-Bromberg, Santiago. "Optimal design of over-the-counter derivatives in a principal-agent framework : an existence result and numerical implementations." Thesis, University of British Columbia, 2008. http://hdl.handle.net/2429/5300.
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This work lies in the intersection of Mathematical Finance, Mathematical
Economics and Convex Analysis. In terms of the latter, a new result (to the
author’s knowledge) on a Lipschitz property of the derivatives of a convex
function is presented in the first chapter. An important result on its own,
it might also provide a stepping stone to an extension to Hubert spaces of
Alexandrov’s theorem on the second derivatives of convex functions.
The second chapter considers the problem of Adverse Selection and op
timal derivative design within a Principal-Agent framework. The principal’s
income is exposed to non-hedgeable risk factors arising, for instance, from
weather or climate phenomena. She evaluates her risk using a coherent and
law invariant risk measure and tries to minimize her exposure by selling
derivative securities on her income to individual agents. The agents have
mean-variance preferences with heterogeneous risk aversion coefficients. An
agent’s degree of risk aversion is private information and the principal only
knows their overall distribution. It is shown that the principal’s risk mini
mization problem has a solution and, in terms of the pricing schedule, the
latter is unique.
Finding a solution to the principal’s problem requires solving a varia
tional problem with global convexity constraints. In general, this cannot be
done in closed form. To this end an algorithm to approximate the solutions
to variational problems where set of admissible functions consists of convex
functions is presented in the fourth chapter of this work. Several examples
are provided.
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Sitoe, Juliete Faustino Mahoro. "Utilização de instrumentos financeiros derivados em Moçambique." Master's thesis, Instituto Superior de Economia e Gestão, 2018. http://hdl.handle.net/10400.5/17714.
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Mestrado em Contabilidade, Fiscalidade e Finanças Empresariais<br>A utilização de derivados é cada vez mais comum nas empresas modernas, sendo estes instrumentos utilizados na cobertura de diferentes riscos a que as empresas estão expostas. Embora as empresas moçambicanas estejam expostas a diferentes categorias de risco, constata-se que a utilização de instrumentos derivados é inexpressiva em Moçambique.
Assim, o objectivo desta pesquisa é estudar a utilização dos derivados em Moçambique, analisando o nível de utilização, perfil dos usuários, tipos de instrumentos e os motivos de sua contratação.
Do estudo realizado, concluiu-se que a utilização dos derivados ainda é pouco expressiva em Moçambique, sendo que esses instrumentos não são transacionados em bolsa e são oferecidos por um reduzido número de bancos comerciais. Constatou-se também que os bancos que oferecem derivados, detém uma carteira muito reduzida de clientes nestes produtos. Conclui-se ainda que o principal motivo para o recurso aos derivados em Moçambique é a cobertura de risco e que os derivados de maior utilização são os derivados cambiais. Quanto às características dos utilizadores, os dados da pesquisa indicam que os derivados são utilizados por grandes e médias empresas, numa proporção de 86% e 14% respectivamente, não tendo sido reportado o uso por micro e pequenas empresas. Dentre as grandes empresas, a taxa de utilização encontrada foi de 37% sendo as grandes multinacionais responsáveis por 38% do reporte de uso de derivados. O sector de actividade que mais reporta o uso destes instrumentos é o das actividade financeiras e de seguros, com um reporte de utilização de 62%.<br>The use of derivatives is increasingly common in modern companies, and these instruments are used to cover different risks to which companies are exposed. Although Mozambican companies are exposed to different risk categories, the use of derivative instruments is unimpressive.
Thus, the objective of this research is to study the use of derivatives in Mozambique, analyzing the level of use, profile of users, most used products and utilization purposes.
From the study, it was concluded that the use of derivatives is not very significant in Mozambique, that these instruments are not traded on the stock exchange and are offered by a small number of commercial banks. It was also found that the banks that offer derivatives have a very small portfolio of customers for these products. The study led to the conclusion that the main reason for the use of derivatives in Mozambique is risk hedging and that the most widely used derivatives are the currency derivatives. Regarding the characteristics of the customers, the research data indicate that the derivatives are used by large and medium-sized companies in a proportion of 86% and 14% respectively, and the use by micro and small companies has not been reported. The utilization rate among the large companies was found to be around 37% and among these companies, the major multinationals being responsible for 38% of the report on the use of derivatives. The sector of activity that most reports the use of derivatives is the financial sector, with a utilization report of 62%.<br>info:eu-repo/semantics/publishedVersion
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Guittet, Stéphane J. "Reforming financial regulation after the global financial crisis : the case of over-the-counter derivative market regulation." Thesis, Paris, Institut d'études politiques, 2013. http://www.theses.fr/2013IEPP0058.
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Au lendemain de la pire crise financière mondiale depuis les années 1930, plusieurs gouvernements réunis sous la coupe du G20 se sont accordés sur la réforme du système financier international. La régulation des marchés financiers fut étendue à de nouveaux territoires. Toutefois, si la crise est une condition du changement, elle ne montre ni l’étendue ni la séquence d’événements qui expliquent ce revirement de politique publique. Dès lors, une question se pose: quels sont les éléments qui peuvent expliquer cette évolution de la réglementation financière internationale ? Cette dissertation démontre que la politique domestique des États-Unis et des pays majeurs de l’Union Européenne ont directement influencé ce changement de politique publique. En se focalisant sur les marchés de dérivés de gré à gré, cette recherche démontrera que l’extension de la régulation financière à de nouveaux marchés est le produit de l’augmentation de l’attention du public ou « salliance politique » dans des pays influents sur la scène internationale. Toutefois, les trajectoires historiques uniques qui caractérisent ces États nous informent sur les contours uniques de ces nouvelles réglementations qui ne sont pas écrites sur une page blanche. Cette recherche examine en particulier l’évolution de la régulation financière sur les marchés de dérivés de crédit ou « credit-default swaps » aux États-Unis avec l’adoption de la loi Dodd-Frank et, en Europe, avec l’adoption de la régulation European Market Infrastructure Regulation (EMIR). Cette argumentation et cette étude empirique contribuent à l’étude de l’évolution des préférences des états dans le domaine de la réglementation financière internationale<br>In the aftermath of the global financial crisis of 2007-2010, international policymakers agreed to reform international financial regulation. New areas of financial markets were placed for the first time under the direct oversight of public regulators. However, the financial crisis explains neither the scope nor the sequence of the regulation that followed in its wake. Thus, the question remains: what explains these international financial regulation outcomes after the crisis? This dissertation argues that domestic politics within the United States and the major European Union member states explain the shift and form of that financial regulation. It focuses on over-the-counter credit derivative markets to show that previously unregulated markets were brought under greater supervision when public salience increases in influential states. However, a nation’s unique historical circumstances determine the concrete regulation policy that develops. This research examines the evolution of credit-default swaps regulation in the US under the Dodd–Frank Wall Street Reform and Consumer Protection Act and in the EU, with special attention to the European Market Infrastructure Regulation (EMIR). With its argument and case study, this dissertation contributes to the study of state preference formation over-time with regard to international financial regulation
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Sousa, Ana Isabel Amaro de. "Metodologias para mensurar a exposição ao risco de crédito de contraparte de derivados over--the-couter." Master's thesis, Instituto Superior de Economia e Gestão, 2011. http://hdl.handle.net/10400.5/4452.
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Mestrado em Matemática Financeira<br>O Acordo de Basileia III prevê, além do aumento da qualidade e do nível de requisitos de capital, a revisão de métricas com vista a melhorar o nível de exposição ao Risco de Crédito de Contraparte (RCC). O objetivo deste trabalho é desenvolver metodologias para mensurar a exposição esperada ao RCC de derivados negociados fora de bolsa (Over-The-Counter – OTC), que consistem em contratos ligados ao futuro valor, ou situação, dos instrumentos subjacentes aos quais se referem. Neste contexto, a inovação do novo Acordo refere-se à introdução de um encargo de capital para cobrir o risco de perdas do valor de mercado do RCC esperado para os instrumentos derivados OTC. Estas potenciais perdas são denominadas Ajustamentos de Avaliação de Crédito (Credit Valuation Adjustment – CVA) e podem ser calculadas por diferentes métodos, dependendo para tal da aprovação do Banco de Portugal. Nas ilustrações, recorre-se frequentemente a Interest Rate Swaps, por serem o instrumento financeiro mais transacionado.<br>Basel III provides an increase of the quality and level of capital requirements, and also it presents a review of the metrics in order to improve the level of exposure to the Counterparty Credit Risk (CCR). In this framework I will develop methodologies to measure the expected exposure to the CCR of Over-the-Counter derivatives, which are contracts that are linked to the future value of the underlying instruments or situation to which they refer. In this context, Basel III innovation reports to the introduction of a capital charge to cover the risk of loss of the CCR Mark-to-Market expected value for OTC derivatives. These potential losses are called Credit Valuation Adjustments (CVA) and may be calculated using different methods, which must be approved by Banco de Portugal. There is a recurrent use of Interest Rate Swaps when providing examples, given that they are the most traded financial instruments.
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Murgoci, Agatha. "Essays in mathematical finance." Doctoral thesis, Handelshögskolan i Stockholm, Finansiell Ekonomi (FI), 2009. http://urn.kb.se/resolve?urn=urn:nbn:se:hhs:diva-427.
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KESSLER, Natalie. "Competition in regulated over-the-counter markets." Doctoral thesis, European University Institute, 2022. http://hdl.handle.net/1814/75139.
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Defence date: 16 December 2022<br>Examining Board: Prof. Giacomo Calzolari, (EUI, supervisor); Prof. Ramon Marimon, (UPF, Barcelona School of Economics, EUI, co-supervisor); Prof. Jean-Charles Rochet, (Geneva Finance Research Institute); Prof. Gyöngyi Lóránth, (University of Vienna)<br>A common thread throughout all three thesis chapters is the combined usage of theoretical models and empirical methods to study the effect of a regulatory shift on the (competitive) equilibrium outcomes. In the first chapter, I analyze the effect of mandatory counterparty default insurance (central clearing) of over-the-counter (OTC) derivatives on aggregate financial risk exposure. I carefully model the competitive mechanisms in both the OTC derivatives and their insurance market. I show that the introduction of mandatory insurance empowers the for-profit central counterparty (CCP) to raise prices, wherefore only larger clients opt to additionally insure their derivatives (lower credit risk). Smaller clients instead exit the market and remain unhedged (higher market risk). I conclude with a model calibration and counterfactual policy evaluation for the EuroDollar FX derivatives market, showing that mandatory insurance increases aggregate financial risk. In the second chapter, joined with Iman van Lelyveld and Ellen van der Woerd, we predict the reduction in short-sell constraints due to an out-ruling of exclusive security lending agreements (ESLAs). Broker-dealers intermediate stock lending between lenders with large portfolios and borrowers seeking to short sell. We study why some lenders commit to a single broker-dealer via exclusive security lending agreements (ESLAs) at the cost of foregoing profitable trades, and how this impacts aggregate lending. We provide a detailed market overview both on a transaction and counterparty-pair level. Gained insights inform a three-period representative lender model that rationalizes why ESLAs arise in equilibrium. After carefully evaluating the model fit, we predict the counterfactual trading volumes in the absence of existing ESLAs. We find that trading volumes would significantly increase, up to 8%. In my final chapter, joined with Johannes Fischer, we study the impact of stress tests and complementary dividend regulations on equilibrium bank lending. Bank stress tests, regularly conducted to ensure stable lending, constitute a de facto constraint on balance sheets: equity must be sufficient to maintain current lending also in the future, even after absorbing severe loan losses. We study the effects of such forward looking constraints in a representative bank model. More severe-stress test scenarios lead to lower dividends, higher equity levels, and universally lower, albeit less volatile, lending. We calibrate our model to large U.S. banks, subject to Federal Reserve stress tests, and compute the optimal, state-dependent severity of stress tests and implied capital buffers (up to 6% during normal times). Finally, we complement stress tests with three macroprudential policies: the Covid-19 dividend ban, the counter-cyclical capital buffer (CCyB), and the proposed dividend prudential target (DPT). We find that combing stress tests with a dividend ban or DPT improves supervisor welfare equally. Due to its discontinuous nature, however, relaxing the CCyB falls short.
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Potnis, Priyanka Shirish. "Ohio Pharmacists’ Perceptions of Over-the-Counter Drug Advertising." University of Toledo Health Science Campus / OhioLINK, 2012. http://rave.ohiolink.edu/etdc/view?acc_num=mco1353036130.
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Shen, Ji. "Essays on asset pricing in over-the-counter markets." Thesis, London School of Economics and Political Science (University of London), 2015. http://etheses.lse.ac.uk/3275/.
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The dissertation, which consists of three chapters, is devoted to exploring theoretical asset pricing in over-the-counter markets. In Chapter 1, I study an economy where investors can trade a long-lived asset in both exchange and OTC market. Exchange means high immediacy and high cost while OTC market corresponds to low immediacy and low cost. Investors with urgent trading needs enter the exchange while investors with medium valuations enter the OTC market. As search friction decreases, more investors enter the OTC market, the bid-ask spread narrows and the trading volume in the OTC market increases. This sheds some light on the historical pattern why most trading in corporate and municipal bonds on the NYSE migrated to OTC markets after WWII with the development of communication technology. In Chapter 2 (co-authored with Hongjun Yan and Hin Wei), we analyse a search model where an intermediary sector emerges endogenously and trades are conducted through intermediation chains. We show that the chain length and the price dispersion among inter-dealer trades are decreasing in search cost, search speed and market size, but increasing in investors’ trading needs. Using data from the U.S. corporate bond market, we find evidence broadly consistent with these predictions. Moreover, as the search speed goes to infinity, our searchmarket equilibrium does not always converge to the centralized-market equilibrium. In particular, the trading volume explodes when the search cost approaches zero. In Chapter 3 (co-authored with Hongjun Yan), we analyse a search model where two assets with different level of liquidity and safety are traded. We find that the marginal investor’s preference for safety and liquidity is not enough to determine the premium in equilibrium, but the whole distribution of investors’ valuations play an important role. We specify the condition under which an increase in the supply of the liquid asset may increase or decrease the liquidity premium. The paper also endogenizes the investment in the search technology and conducts welfare analysis. We find that investors may over- or underinvest in the search technology relative to a central planner.
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Rankin, Jenny Grant. "Over-the-Counter Data's Impact on Educators' Data Analysis Accuracy." Thesis, Northcentral University, 2013. http://pqdtopen.proquest.com/#viewpdf?dispub=3575082.
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<p>There is extensive research on the benefits of making data-informed decisions, but research also contains evidence many educators incorrectly interpret student data. Meanwhile, the types of detailed labeling on over-the-counter medication have been shown to improve use of <i>non</i>-medication products, as well. However, data systems most educators use to analyze student data usually display data without supporting guidance concerning the data's proper analysis. In this dissertation, the data-equivalent to over-the-counter medicine is termed <i>over-the-counter data:</i> essentially, enlisting medical label conventions to pair data reports with straightforward verbiage on the proper interpretation of report contents. The researcher in this experimental, quantitative study explored the inclusion of such supports in data systems and their reports. The cross-sectional sampling of 211 educators of varied backgrounds and roles at nine elementary and secondary schools throughout California answered survey questions regarding student data reports with varied forms of analysis guidance. Respondents' data analyses were found to be 307% more accurate when a report footer was present, 205% more accurate when an abstract was present, and 273% more accurate when an interpretation guide was present. These findings and others were significant and fill a void in field literature by containing evidence that can be used to identify how data systems can increase data analysis accuracy by offering analysis support through labeling and supplemental documentation. Recommendations for future research include measuring the impact over-the-counter data has on data analysis accuracy when all supports are offered to educators in concert. <i>Keywords:</i> abstract, analysis, data, data-driven decision-making, DDDM, data-informed decision-making, data system, data warehouse, footer, ICT, interpretation guide, report. </p>
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Woodruffe-Peacock, Charlotte Anne. "Clinical trials on over-the-counter medicines in community pharmacies." Thesis, King's College London (University of London), 1998. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.299861.
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Fraser, Mary I. "Uses of over-the-counter analgesic agents in the Montreal population." Thesis, National Library of Canada = Bibliothèque nationale du Canada, 1998. http://www.collectionscanada.ca/obj/s4/f2/dsk1/tape11/PQDD_0018/MQ44168.pdf.
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Faridian, Martin, Saul Ortega, Pearce Engelder, and Marion Slack. "Pharmacists Use of Over-the-Counter Vitamins, Minerals, and Herbal Supplements." The University of Arizona, 2016. http://hdl.handle.net/10150/613853.
Full textAbstract:
Class of 2016 Abstract & Report<br>Specific Aims:
This study aims to evaluate the use and rationale of dietary supplement use by pharmacists and to assess whom pharmacists are recommending them to.
Methods:
Arizona licensed pharmacists were surveyed using Qualtrics software. The survey consisted of questions starting with listing common vitamin, mineral and herbal products used personally. Respondents were then asked to indicate a purpose for use and if they would recommend personally used products to patients, family or friends. Demographics such as area of practice, gender and age were also collected. Data were analyzed by calculating summary frequency and percentages with a priori alpha level of 0.05.
Main Results:
Of the 10,899 surveys sent, 528 respondents completed the survey. The average respondent age was 46.6 ± 14.4, 40% were male and 42% practiced in community pharmacy Overall use was: multivitamin (95.54%), vitamin C (78.24%), vitamin D (73.31%), calcium (73.13%), and B vitamin(s) (70.03%). The most common reasons for use were “general health and wellness” and “to treat or cure a specific disease or health problem.” Overall use of supplements was lower; 58% for fish oil while only 25% used chondroitin. More community pharmacists used all types of dietary supplements (p < 0.05). Most pharmacists would recommend the products to patients. Conclusions: (39)
Pharmacists use dietary supplements at rates similar to the general public and would recommend the noted products to patients. This is particularly relevant because existing well designed studies evaluating efficacy and safety of the products in question are limited.
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Issa, George. "Three Essays on the Microstructure of Over-the-Counter Interbank Markets." Thesis, The University of Sydney, 2018. http://hdl.handle.net/2123/18150.
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This thesis consists of three essays, with each comprised of an empirical analysis of microstructural issues in over-the-counter interbank markets. It uses a confidential transaction-level database from the Australian fixed-income market that is comprehensive in scope, covering virtually all cash trades and repurchase agreements across multiple asset classes over an extended 7.5-year period. To exploit this wide scope, the essays are framed to investigate issues that have both a strong policy import (given the prominence of over-the-counter and collateral markets during the Global Financial Crisis) and the potential to remedy a gap in the academic literature (given they have been largely ignored by prior researchers due to data limitations). The first paper addresses the question of whether bank relationships affect asset prices. Using simple intuition, it conjectures that traders have a natural incentive to circumvent search frictions by entering bilateral relationships (in contrast to random matching in current theoretical approaches); to compensate for this immediacy, however, an initiating relationship trader sacrifices a higher execution cost relative to search-based trades. By focusing on cash trades across several safe and homogenous asset classes, the paper then tests this hypothesis in a setting that isolates countervailing information frictions. The results, which include extensive robustness checks across normal and crisis periods, provide strong support to the central hypothesis. The second paper addresses the question of whether global banks react to shocks in their home countries by adjusting their bond inventories in geographically-distant markets. Using a difference-in-differences methodology with fixed effects, it examines the relationship between daily U.S. interbank funding shocks and the Australian fixed-income holdings of exposed foreign branches. In line with expectations, the analysis shows that global banks reduce their Australian bond holdings after increases in their U.S. interbank funding costs. Moreover, the variability in the results is consistent with fire-sale theory (Shleifer and Vishny, 1992): the effect is present across asset classes, stronger during the crisis when most global banks were highly capital-constrained and stronger for higher value bonds with a lower fire-sale cost. A supplementary analysis then finds some evidence that these holdings adjustments negatively affected market outcomes, including prices and liquidity. The third paper addresses the question of whether the novel phenomenon of collateral reuse (commonly referred to as rehypothecation) acts as a direct funding mechanism for intermediating banks in repo markets. In addition to one of the first exploratory analyses of this phenomenon, the paper tests a new theoretical literature that models how dealers set haircut margins between source repos and secondary reuse repos backed by the same collateral. The analysis surprisingly finds that haircut spreads are negative, suggesting that on average dealers incur a net loss between the two initial repo legs. Nonetheless, the regression analysis finds that the determinants of haircut spreads are more intuitive and consistent with theoretical predictions; for instance, haircut spreads are negatively related to the delayed income obtained from interest rate spreads, and positively related (albeit weak evidence) to the dealer’s funding costs. Both individually and as a whole, these studies add to our current understanding of over-the-counter markets in ways that are of interest to academics and regulators alike. The first paper introduces and presents evidence consistent with an alternative conception of trading that synthesises the ubiquitous notion of search costs with the empirical dominance of bilateral relationships; it broadly underscores the importance of considering both these intertwined factors for a proper understanding of the dynamics of price formation and liquidity in such markets. The second paper extends the shock transmission literature from loan markets – which it is currently largely constrained to – to a fundamentally different, secondary-asset-market setting; such research is intrinsically connected to the issue of systemic risk, which is at the fore of current global banking regulation movements. And finally, the third paper presents one of the first empirical analyses on rehypothecation, a novel and widely-unknown practice that has the potential for far-reaching implications given increasing collateralisation of both financial and non-financial transactions worldwide; it also provides the first test of theoretical models that conjecture its use as a direct funding mechanism.
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Cheng, Chi-man, and 鄭志文. "Over-the-counter hearing aids: electroacoustic characteristics and possible target client groups." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 1998. http://hub.hku.hk/bib/B31251018.
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Kudlik, Ingrid [Verfasser], and Rainer [Akademischer Betreuer] Schöbel. "Liquidity Shocks in Over-the-Counter Markets / Ingrid Kudlik ; Betreuer: Rainer Schöbel." Tübingen : Universitätsbibliothek Tübingen, 2014. http://d-nb.info/1163282472/34.
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Cheng, Chi-man. "Over-the-counter hearing aids : electroacoustic characteristics and possible target client groups /." Hong Kong : University of Hong Kong, 1998. http://sunzi.lib.hku.hk/hkuto/record.jsp?B19859612.
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MacDonald, Kristy. "The synthesis of trifluoroalkylated pyridine derivatives over H-form zeolites." Thesis, University of Liverpool, 1999. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.367057.
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Olivier, Terri Gaynor. "Laboratory-scale development of an over-the-counter famotidine formulation / Terri Gaynor Olivier." Thesis, Potchefstroom University for Christian Higher Education, 1996. http://hdl.handle.net/10394/2478.
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Gerber, Colin William. ""Pumping you Up" The Cardiovascular Effects of Over-the-Counter Weight Lifting Supplements." Thesis, The University of Arizona, 2013. http://hdl.handle.net/10150/297568.
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Subsequent to the analysis of a pre-workout supplement, during-workout supplement, and post-workout supplement, it was concluded that only the post strength training recovery supplement (Optimum Nutrition’s™ Gold Standard 100% Whey Protein) was able to successfully fulfill all of the company’s claims as well as proved the most beneficial. It was noted that the other two types of supplements had some potentially negative effects on a human’s cardiovascular system, were not necessarily beneficial for strength training exercisers, and contained various ingredients with both valid and invalid company claims. This review of the cardiovascular (CV) system in congruence with strength training supplements concludes the vital connections between the two are important and should be heavily considered upon use of supplementation resembling any of the three reviewed.
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Foster, Josh. "Over-the-counter drugs and non-febrile thermoregulation : is there cause for concern?" Thesis, University of Bedfordshire, 2017. http://hdl.handle.net/10547/622541.
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Core temperature (Tc) regulation is fundamental to mammalian survival, since hypothermia (Tc ≤ 35°C) and hyperthermia (Tc ≥ 40°C) are major risk factors for health and wellbeing. The purpose of this thesis was to determine if acetaminophen, an analgesic and antipyretic drug, increased the onset of hypothermia or hyperthermia during passive cold and heat stress, respectively. It was later investigated if acetaminophen induced inhibition of cyclooxygenase mediated these side-effects. In Study 1a, the plasma acetaminophen response to a dose of 20 mg·kg-1 of lean body mass was determined through enzyme linked immunosorbent assay. In Study 1b, the effect of acetaminophen administration on internal temperature (rectal; Tre) during a passive 2-hour mild cold (20°C, 40% relative humidity) exposure was examined. Study 1a showed that the plasma response was homogenous between subjects, reaching peak concentrations between 80-100 minutes (14 ± 4 μg·ml-1). In Study 1b, acetaminophen reduced Tre in all participants compared with baseline, and the average peak reduction was 0.19 ± 0.09°C. In contrast, Tre remained stable when participants ingested a sugar placebo. Study 1 is the first experiment which confirms a hypothermic side-effect of acetaminophen in healthy humans. Study 2 investigated whether acetaminophen augmented the rate of Tre rise during exposure to passive dry (45°C, 30% r.h.) and humid (45°C, 70% r.h.) heat stress for 2-hours and 45-minutes, respectively. This study showed that the rate of Tre rise in the dry (0.005 vs 0.006°C∙min-1) and humid (0.023 vs 0.021 °C∙min-1) conditions were similar between the acetaminophen and placebo trials (p > 0.05). Study 2 is the first experiment which confirms acetaminophen has no meaningful effect on thermoregulation during passive dry or humid heat exposure. Study 3 determined how the hypothermic effect of acetaminophen changes during exposure to a thermoneutral (25°C, 40% r.h.) and cold (10°C, 40% r.h.) environment for 2-hours. In summary, there was no hypothermic effect of acetaminophen in a thermoneutral environment (p > 0.05), whereas Tre fell by 0.40 ± 0.15°C compared with baseline during cold stress (p < 0.05). Compared with the placebo, Tre was ~0.35°C lower at 120 minutes, but was significantly lower from 70-minutes. Study 3 confirmed that there is a relationship between the level of cold stress and magnitude of the hypothermic effect of acetaminophen. Study 4 determined whether ibuprofen (400 mg), a cyclooxygenase inhibitor, reduced Tre during 2-hour passive cold stress (10°C, 40% r.h.) to a level comparable with acetaminophen. Ibuprofen administration did not influence Tre, vastus medialis shivering, or energy expenditure compared with a placebo throughout the cold exposure (p > 0.05). Taken together, this renders it unlikely that cyclooxygenase activity is required for thermogenesis induced by skin cooling. Study 4 provides evidence that acetaminophen induced hypothermia is not exclusively mediated by cyclooxygenase inhibition. In Summary, this series of experiments has shown that acetaminophen has a hypothermic side effect in healthy humans, which is amplified during acute cold stress. Ibuprofen had no such effect on thermoregulation during cold exposure, so it is unlikely that cyclooxygenase inhibition mediates the hypothermic side-effect of acetaminophen.
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Romich, Peter. "Hybrid space counter-strategies: Rebalancing our relationships with networked technologies." Thesis, Malmö högskola, Fakulteten för kultur och samhälle (KS), 2012. http://urn.kb.se/resolve?urn=urn:nbn:se:mau:diva-22897.
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Our increasing dependency on the internet has had a significant social, behavioural and psychological impact on us all, and not entirely positive. Networked technologies provide an endlessly-renewing refuge of digital information from the uncertainties of life in the physical world, a potentially addictive and ultimately unfulfilling emotional sanctuary. A compulsive craving for constant connectivity has been normalized by broader trends in public life, including a celebration of hypermediated workaholism, unsustainable consumerism, and a corporatist agenda for commodifying personal data and social conformity.Habitual use of networked digital media is crucial in order to socially and professionally thrive in contemporary society, so exposure cannot be completely curtailed and must be voluntarily monitored and managed at a personal level. Informed by an analysis of related socio-theoretical phenomena and historical counter-strategies, as well as expert interviews and interaction design theory, we explore how this could potentially happen through re-sensitizing the ‘smartness’ and ‘responsiveness’ of the technology itself, to appropriately curb its own misuse.These issues are addressed by a design concept developed through two artifacts: the first, a web-based application; and the second, a semi-functional technology probe and conjectural video prototype. Design is enlisted to explore how rethinking the implementation of digital experiences could potentially re- empower an individual to achieve a temporary liberation from (or at least an increased self-awareness of) their splintered psychological predicament, in the hopes of ultimately guiding them towards a healthier, more balanced relationship with networked media technologies.
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Wong, Tze-kin Andy, and 黃子健. "Design and marketing of over-the-counter option-linked deposit for retail banking market." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 1998. http://hub.hku.hk/bib/B31269436.
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Young, Sheena A., and Sheena A. Young. "Occurance and Formation of Emerging Disinfection Byproducts in Beverages and Over-the-Counter Medications." Diss., The University of Arizona, 2016. http://hdl.handle.net/10150/622983.
Full textAbstract:
Beyond the expected DBP exposure from drinking water, dermal from bathing, and inhalation, occurrence in food and beverage items can provide an additional occurrence pathway. Synthetic dyes are often added to beverages for aesthetic purposes and many are in the form of a reactive azo (-N=N-) dye or triarylmethane dye, both with a characteristic aromatic ring. The presence of dyes in beverages that are reconstituted with disinfected tap water pose the risk of reactions with the residual chlorine in the drinking water resulting in decolorization, and of greater concern, disinfection byproduct formation. Additionally, oral over-the-counter (OTC) medications contain chemical constituents that when reconstituted with tap water present a risk of DBP formation. Several studies were performed to evaluate the kinetic decay rates of the dyes and drugs in disinfectants, and the effects of water quality conditions on DBP formation. Commercial beverage products and OTC medications were evaluated for the DBPs that were detected in the free chlorine-treated precursor samples. The dye and drugs precursors followed second order kinetics, with the fastest rates for brilliant blue and phenylephrine in chlorinated water. The effects of water properties on precursor degradation and DBP formation was complex due to the influence of characteristics of precursor molecules. The cytotoxic and anti-estrogenic responses were measured in the dye and drug precursors and their respective beverages and OTC medications, to determine potential links. Mio Energy showed estrogenic character and Alka Seltzer induced an anti-estrogenic and cytotoxic response, however there were no clear linkages between the beverage/ medication and their respective dye and drug precursors.
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Ascensio, Zona Josephine. "Pharmacy-Based Barriers to Adolescent Access to Over-the-Counter Emergency Contraception in Kentucky." TopSCHOLAR®, 2017. http://digitalcommons.wku.edu/theses/1939.
Full textAbstract:
Since June of 2013, Plan B and its generics have been available over-the-counter without age restriction nationwide. Even so, pharmacy-based economic, physical, and staff-associated barriers still exist, potentially leading adolescent customers to fail to obtain emergency contraception (EC) in a sufficiently timely manner to prevent pregnancy. This study explores these pharmacy-based barriers to EC in the state of Kentucky focusing on comparisons of urban and non-urban pharmacies and chain and private pharmacies. Using a secret-shopper survey technique, the researcher called 220 Kentucky pharmacies acting as a 15-year-old girl seeking information about EC. Among other findings, a logistic regression analysis revealed that private pharmacies were 97% less likely to carry EC compared to chain pharmacies (OR= .027; p
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Richard, Lisette. "Understanding the use of over-the-counter (OTC) drugs in French Canadian elderly women /." Thèse, Rochester, N.Y. : University of Rochester, 1999. http://www.uqtr.ca/biblio/notice/resume/03-2193613R.html.
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Wong, Tze-kin Andy. "Design and marketing of over-the-counter option-linked deposit for retail banking market /." Hong Kong : University of Hong Kong, 1998. http://sunzi.lib.hku.hk/hkuto/record.jsp?B19872094.
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Prinsloo, Erica. "The use of over-the-counter medicine and health information seeking behaviour in England." Thesis, Loughborough University, 2017. https://dspace.lboro.ac.uk/2134/25032.
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Background. In England and the UK there has been a move to provide the consumer with more choice in over the counter medicine. In recognition of the number of drugs now available without prescription, new models and frameworks are being utilised with the aim to educate the public about self-treatment. How health information is sought has also undergone transformation with the advent of the internet, the adoption and utilisation of this resource has had a significant impact on how the healthcare consumer seeks information. Aims and Methods. The aim of this study was to investigate the provision of and access to consumer health information in England, specifically with reference to over the counter medicines to promote understanding of the consumers attitudes and opinions to this type of medicine and their health information seeking behaviours. The findings of the study were used to provide recommendations to the stakeholders involved; healthcare organisations, healthcare professionals and the healthcare consumer. The research consisted of a survey (n=324) and was analysed using quantitative and qualitative methods. Results. The majority of respondents utilised over the counter medicine responsibly and with few adverse events. The General Practitioner is the main source of information and online sources the next most utilised resource. Effectiveness and following advice/recommendations were amongst the themes identified that made a treatment episode with over the counter medicines successful. Unsuccessful treatment episodes included those with escalation of symptoms. Factors governing successful health information seeking were problem solving through self diagnosis and expanding knowledge on an existing health issue. Conclusions. Over the counter medicines are a widely used commodity but respondents continue to have a heavy reliance on the general practitioner for prescription medicines, especially for minor ailments. Evidence exists that individuals utilise information seeking behaviour for self treatment and the use of over the counter medicines. However, adoption of self care models need to be increased through educating health care consumers to maximise the potential benefits of these frameworks for the stakeholders.
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Hughes, Glenda F. "Drug abuse and misuse : a community pharmacy perspective." Thesis, Queen's University Belfast, 2000. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.326347.
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Popa, Michelle. "An Examination of Awareness of Over-the-Counter Nonsteroidal Anti-Inflammatory Drugs and Adverse Events." Thesis, Walden University, 2014. http://pqdtopen.proquest.com/#viewpdf?dispub=3629344.
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<p> The elderly population is among the fastest growing populations in the United States. Finding and consuming medications safely and effectively are challenging endeavors for this population. Nonsteroidal anti-inflammatory drugs (NSAIDs) are a widely consumed class of medications among the elderly population, with 70% of individuals consuming over-the-counter (OTC) NSAIDs once a week and 34% using them daily. The purpose of this quantitative study was to determine whether (a) patients are aware of the risks associated with the consumption of NSAIDs, and (b) there are differences in awareness based upon specific demographic characteristics and levels of patient-physician communication. The health belief model (HBM) was used to interpret the results. The HBM is a social cognition framework that takes into account different perceptions, namely, perceived susceptibility of acquiring a health condition, perceived severity of the condition and its consequences, perceived barriers to engaging in the recommended behavior, perceived benefits of engaging in the recommended behavior, and perceived costs of engaging in the recommended behavior. Multiple linear regression was used to analyze the data. The results, which were based upon a cross-sectional survey of 124 participants, showed that the participants' awareness of adverse events associated with NSAIDs use was not associated with sociodemographic variables, rates of consumption, or patient-physician communication. The findings will give the key stakeholders more insight into the issue of preventable adverse events that might lead to the establishment of more safety programs and informatics structural systems to monitor the consumption of OTC NSAIDs and improve lines of communication to protect the elderly population.</p>
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Christie, Samantha. "The effects of over-the-counter herbal extracts and essential micro-nutrients on premenstrual symptoms." Thesis, University of Reading, 2003. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.398397.
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Popa, Michelle. "An Examination of Awareness of Over-the-Counter Nonsteroidal Anti-Inflammatory Drugs and Adverse Events." ScholarWorks, 2011. https://scholarworks.waldenu.edu/dissertations/1143.
Full textAbstract:
The elderly population is among the fastest growing populations in the United States. Finding and consuming medications safely and effectively are challenging endeavors for this population. Nonsteroidal anti-inflammatory drugs (NSAIDs) are a widely consumed class of medications among the elderly population, with 70% of individuals consuming over-the-counter (OTC) NSAIDs once a week and 34% using them daily. The purpose of this quantitative study was to determine whether (a) patients are aware of the risks associated with the consumption of NSAIDs, and (b) there are differences in awareness based upon specific demographic characteristics and levels of patient-physician communication. The health belief model (HBM) was used to interpret the results. The HBM is a social cognition framework that takes into account different perceptions, namely, perceived susceptibility of acquiring a health condition, perceived severity of the condition and its consequences, perceived barriers to engaging in the recommended behavior, perceived benefits of engaging in the recommended behavior, and perceived costs of engaging in the recommended behavior. Multiple linear regression was used to analyze the data. The results, which were based upon a cross-sectional survey of 124 participants, showed that the participants' awareness of adverse events associated with NSAIDs use was not associated with sociodemographic variables, rates of consumption, or patient-physician communication. The findings will give the key stakeholders more insight into the issue of preventable adverse events that might lead to the establishment of more safety programs and informatics structural systems to monitor the consumption of OTC NSAIDs and improve lines of communication to protect the elderly population.
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Burgin, Lindsey B., Ana M. Gamboa, and Danielle M. Tierney. "An Interactive Approach to Educate Older Adults on the Safe Use of Over-the-Counter Medications." The University of Arizona, 2011. http://hdl.handle.net/10150/623573.
Full textAbstract:
Class of 2011 Abstract<br>OBJECTIVES: The objective of this study was to create, implement, and evaluate an interactive educational program for older adults on the safe use of over-the-counter (OTC) medications.
METHODS: This was a prospective, interventional study in which all subjects received a 40-minute session covering 12 OTC topics tailored to older adults and delivered by pharmacy students. Convenience sampling was used to recruit participants from five independent senior living communities in Arizona. Following the program, participants completed a questionnaire to address the helpfulness and share their intentions of behavior change. RESULTS: Of 88 older adults who attended the program, 64 met the inclusion criteria and voluntarily completed the anonymous survey. 91.8% of the participants indicated the intervention was either “very helpful” or “moderately helpful”. Upon score conversion, the average score for helpfulness among men and women were 2.35 and 2.37, respectively (p=0.922). 95.2% of the participants agreed they have better understanding about OTCs, and 98.3% reported they would recommend this program to a friend. The majority of the subjects stated they will make changes to the way they use OTCs (79.3%), talk with their pharmacist before purchasing OTCs (86.8%), and discuss OTC use with their providers (88.3%). The three most beneficial topics identified included vitamins/minerals, reading a drug label, and sleep medications.
CONCLUSION: An interactive educational program on the safe use of OTC medications, tailored to older adults and delivered by pharmacy students, was helpful and generated positive intentions regarding behavior change in OTC use among participants.
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Sands, Shannon, and Joel Nielsen. "Consumer Knowledge of Acetaminophen Safety, Dosing, and Identification." The University of Arizona, 2012. http://hdl.handle.net/10150/623666.
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Class of 2012 Abstract<br>Specific Aims: The objective of this study is to evaluate consumers’ knowledge about over the counter (OTC) products containing acetaminophen (APAP).
Methods: Doctor of pharmacy student researchers set up a booth at consenting community pharmacies and invited consumers to participate in a 10-15 minute knowledge assessment. The booth contained a table displaying several OTC medication bottles/packages. Adult participants: a) answered baseline questions verbally about their APAP knowledge and associated risks; b) identified OTC products at the booth that contain APAP; and c) calculated and demonstrated dosing of APAP. The researchers asked follow-up questions and assessed the accuracy of the dosing. Participants received APAP educational brochures upon completion.
Main Results: Eighty percent of subjects reported not knowing what the abbreviation “APAP” means, and almost half of those who said that they knew what it means were incorrect. Very few participants were able to correctly identify the products containing APAP even with the product packaging information, with the percentage of incorrect responses as to whether a product contains APAP or not varying from 4.9% to 31.6%. More than 40% of the pediatric doses were incorrectly dosed for both of the pediatric formulations, even with the majority of subjects being parents.
Conclusions: Consumers are not able to identify which over-the-counter products contain APAP even with the product packaging before them, and they do not know what the abbreviation “APAP” means. Better packaging and product ingredient information should be developed, and the abbreviation “APAP” should be avoided. Pediatric APAP products should be re-evaluated regarding safety and dosing.
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Zuhl, Stephanie. "Survey of Patient’s Knowledge of OTC Analgesics." The University of Arizona, 2007. http://hdl.handle.net/10150/624416.
Full textAbstract:
Class of 2007 Abstract<br>Objectives: The main objective of this study was to determine if there was a link between the amount of OTC medications consumed and the knowledge of these products. With approximately 100,000 OTC products are available to the consumer this study focused on the most common class sold over the counter, analgesics. This study also determined if there was a correlation between the elderly and their frequency and knowledge of these products. Specific demographic characteristics including gender and education level were also evaluated to determine if these factors had an impact.
Methods: A 21 question survey on OTC analgesics was distributed to retail pharmacy customers. It consisted of questions on amount of OTC analgesics regularly consumed, general knowledge of these products, and basic demographic questions. The initial questions assessed the amount of OTC analgesic regularly consumed by the participant. The remaining questions were designed to determine the participant’s knowledge of these products. They were either multiple choice or true false questions covering basic information on OTC analgesics
Results: It was found there was no correlation between the amount of OTC analgesics consumed and the knowledge of these products. A person who consumed analgesics on a regular basis was not significantly more knowledgable about these products then a person who had never taken them. There was also no link between age and amount of OTC analgesics taken or knowledge of these products. It was found that women have more knowledge of OTC analgesics then men. Females answered an average 63.6% of the survey questions correct, compared to males who answered 51.8% correct. This project also demonstrated there was a correlation between the amount of the participant’s education level and their knowledge of OTC analgesics. Participants who had a high school education or less, answered 53.6% of the questions correct, and those who had a college degree or post graduate answered 73.5% correct.
Conclusions: Although OTC analgesics don’t require a prescription, it is still important to counsel patients taking these medications. This should be considered a necessary part of the job of a pharmacist to ensure the general population has adequate knowledge of these products and is taking them safely. These products can offer a significant benefit and improve a person’s quality of life when utilized correctly. Providing patient education can ensure this can be done.
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Sands, Shannon, Joel Nielsen, and Terri Warholak. "Consumer Knowledge of Acetaminophen Safety, Dosing, and Identification." The University of Arizona, 2012. http://hdl.handle.net/10150/614521.
Full textAbstract:
Class of 2012 Abstract<br>Specific Aims: The objective of this study is to evaluate consumers’ knowledge about over the counter (OTC) products containing acetaminophen (APAP).
Methods: Doctor of pharmacy student researchers set up a booth at consenting community pharmacies and invited consumers to participate in a 10-15 minute knowledge assessment. The booth contained a table displaying several OTC medication bottles/packages. Adult participants: a) answered baseline questions verbally about their APAP knowledge and associated risks; b) identified OTC products at the booth that contain APAP; and c) calculated and demonstrated dosing of APAP. The researchers asked follow-up questions and assessed the accuracy of the dosing. Participants received APAP educational brochures upon completion.
Main Results: Eighty percent of subjects reported not knowing what the abbreviation “APAP” means, and almost half of those who said that they knew what it means were incorrect. Very few participants were able to correctly identify the products containing APAP even with the product packaging information, with the percentage of incorrect responses as to whether a product contains APAP or not varying from 4.9% to 31.6%. More than 40% of the pediatric doses were incorrectly dosed for both of the pediatric formulations, even with the majority of subjects being parents.
Conclusions: Consumers are not able to identify which over-the-counter products contain APAP even with the product packaging before them, and they do not know what the abbreviation “APAP” means. Better packaging and product ingredient information should be developed, and the abbreviation “APAP” should be avoided. Pediatric APAP products should be re-evaluated regarding safety and dosing.
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Le, Vi. "Nonmedical Use of Over-the-Counter and Prescription Medications among University Students from a Midwest University." The Ohio State University, 2016. http://rave.ohiolink.edu/etdc/view?acc_num=osu1461177634.
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Pearce, Colby. "The relative contribution of psychological functioning to over-the-counter analgesic consumption amongst adolescents : a preliminary study /." Title page, contents and abstract only, 1994. http://web4.library.adelaide.edu.au/theses/09PM/09pmp359.pdf.
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Hanna, Lesley-Anne. "An exploration of the role of evidence of effectiveness in decision-making with over-the-counter medication." Thesis, Queen's University Belfast, 2011. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.534731.
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Andronicou, Anna Maria l. "Usage and perceptions of over the counter oral solid dose weight loss formulations in North West England." Thesis, Liverpool John Moores University, 2011. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.536141.
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Flath, Ali, Mandy Hwang, and Yen Nguyen. "Assessment of the General Knowledge of Prescription and Over-The-Counter (OTC) Pain Medications in Older Adults." The University of Arizona, 2017. http://hdl.handle.net/10150/624175.
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Class of 2017 Abstract<br>Objectives: To assess older adults’ knowledge of prescription pain and over-the-counter (OTC) medications, to determine if age influences older adults’ choice of OTC pain agents, and to determine if education by a pharmacist about prescription and OTC pain medications impacts the score on a medication knowledge indicator.
Methods: This is a descriptive survey study. Participants received a recruitment email with a consent link in order to participate in the secure, online Qualtrics survey. The survey consists of 10 knowledge-based items on pain medications and 12 demographic items. The primary outcome of this study is the knowledge about pain medications of adult 75 years and older. Knowledge scores were analyzed using a Chi square test to compare the proportion of respondents in each age group who score 50% or more. The secondary outcome is the purchase pattern of OTC pain medications based on age. OTC purchasing data was analyzed using a nonparametric regression test. The tertiary outcome is the effect of pharmacist counseling on patients knowledge of prescription and OTC medications. The knowledge indicator scores were compared in patients who reported as either being educated by a pharmacist or not using a one-way ANOVA test.
Results: The questionnaire was completed by a total of 50 people, but three were excluded due to not meeting the age requirement of 50 years and older. Forty-seven participants were used in the analysis with mean age of 68.3 years (range 55 to 90) and 72% female. Of 44 participants who completed the entire survey those 75 years and older scored better on the knowledge indicator (71% scored ≥50%) compared with those 74 years and younger (54% scored ≥50%); however, no significant difference was found (p = 0.28). In addition, purchasing pattern based on percentage of both prescription and OTC medications between both groups appeared to be insignificantly different (p = 0.31 and 0.51 respectively). The mean number of OTC medications purchased equaled the mean number of OTC medications purchased for adults less than 75 years of age (Y = 1.2 vs. 1.2 medications per patient, p=0.51). Finally, all patients age 75 and older that reported being educated by a pharmacist scored 50% or greater on the knowledge indicator (100%) while 52% of participants 74 years and younger scored 50% or greater (p = 0.673).
Conclusions: Adults ages 75 years and older possess the same basic knowledge of pain medications when compared to adults age 50 to 74. In addition, adults age 75 years and older purchase over-the-counter (OTC) at the same rate as adults age 50 to 74. Finally, adults age 75 years and older benefit most from pharmacist consultation compared to adults age 50 to 74.
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Ricci, Alison. "Unintentional ingestions of prescription and over the counter medications in children five years of age and younger." The University of Arizona, 2011. http://hdl.handle.net/10150/623571.
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Class of 2011 Abstract<br>OBJECTIVES: Accidental ingestions of medications in children under five years old are an increasing problem faced by parents and caregivers. This study will determine which medications are most commonly ingested and which cause more harmful side effects.
METHODS: A descriptive, retrospective study was performed by obtaining data from electronic patient charts from the Arizona Poison and Drug Information Center (APDIC). Subjects were selected if they were younger than five years old and had ingested a medication during 2009. Age and gender were analyzed by calculating percentages and means and comparing them using an independent t-test. Adverse effects of medications were compared using a Chi Square test.
RESULTS: A total of 4,373 cases met inclusion criteria for analysis, including 2,019 females and 2,354 males. The average age of patients was 2.2 years. Of 3,275 cases (74.4%) involving OTC medications, 119 patients (3.6%) developed minor effects and 20 patients (0.6%) developed moderate effects. Of 1,129 children (25.6%) ingesting prescription medications, 78 patients (6.9%) developed minor effects, 35 patients (3.1%) developed moderate effects and 1 patient (0.1%) developed a major effect (p=0.003).
CONCLUSION: Males were more likely to have unintentional ingestions than females. The incidence of OTC ingestions was higher than prescription ingestions. Toddlers tended to have more ingestions than infants or older children. Unintentional prescription medication ingestions resulted in significantly more adverse effects than unintentional OTC ingestions.
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Rao, Jyothi G. "A Theoretical Model And Empirical Analysis Of Components Of Spread In Over The Counter Exchange Of India." Thesis, Indian Institute of Science, 2001. https://etd.iisc.ac.in/handle/2005/267.
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Over the Counter Exchange of India (OTCEI) was established in 1992 mainly to provide a platform for small and medium sized companies to raise money for their capital requirements. It is a well defined dealer market with market makers giving bid and ask quotes. It was established with state-of-the art technology with ringless, scripless trading.
In this study, we develop a theoretical model to decompose spread into its three components in a dealer market. This model is further empirically examined by using OTCEI data. We find that Inventory holding cost to be the highest on OTCEI followed by Adverse Information cost and Order Processing cost. The result reflects market microstructure which is peculiar to OTCEI.
The methodology developed in this study is basically a generalization of S toll's (1989) methodology. . Roll(1984) shows that in a pure order processing world, spread equals the square root of negative of serial covariances of successive differences of transaction prices. Stoll (1989) relates spread to the covariance of successive difference of transaction prices and that of the quotes. Stoll introduces two parameters, 5, which is a measure of magnitude of price change and JI, the probability of reversal of type of transaction, that is, from Bid to Ask or vice-versa, to model the Bid/Ask price movements from one transaction to the next. Thus Stoll, from this model, establishes a theoretical relationship between serial covariances of successive differences of transaction and quote returns and spread. 5 and n are estimated via regression of serial covariances of transaction and quote, returns on average proportional spread square. With these two parameters, Stoll finally decomposes spread into three components.
δ, is the amount of price change between transactions for two reasons- Inventory holding reason and adverse information reason. Stoll explains these price changes due to two reasons with just one parameter, 5. This forms the main motivation of this study. In our study, we let 8 assume two different values, 5i and 82 which attempts to capture the price changes due to the two different causes viz inventory holding and adverse information. It is convenient to think of these two S's being associated with two different states of transactions. However, these states themselves are indeterminate . In other words, the price change could be due to inventory reasons, or due to trading with an informed trader, or due to both. Thus, while Stoll assumes only one 8, in our study, we have two different values of 8. Thus, with three parameters, 81, 82 and n, this study attempts to estimate the relevant parameters and realistically decompose the three components of spread in a dealer market.
Just like Stoll, the developed theoretical model also relates serial covariances of transaction price changes and quoted price changes to spread square. However, unlike Stoll, now there are 3 parameters, namely, 5j, 82 and n. As it is impossible to solve three unknowns with just two equations, it becomes necessary to introduce one more equation relating the three parameters to the spread. It is here that we introduce, for the first time, the serial covariance of the second order differences of the transaction price changes, which is related to spread via an equation. Intuitively, we can explain this relationship using Roll's result. Roll(1984) has shown that spread equals square root of the negative serial covariances of transaction price changes in a pure order processing world. Since the second order difference is nothing but the rate of price changes, it also must be related to spread, since the price change themselves are related to it, empirically, we find that spread square significantly affects the serial covariance of second order difference of price changes as well.
Besides explaining the price changes with just one 5, Stoll's method of decomposition is not realistic. Though his method of decomposition does yield three components of spread, in reality, it lumps Adverse information cost and Inventory holding cost together. In our study, we make use of the state-of-the art Huang and Stoll's (1997) methodology of decomposition of spread. We first embed the developed theoretical price-movement model into that of Huang and S toll's this yields a functional relationship between 5i and 52 and a and |3 of Huang and Stoll, which directly refers to the adverse information and inventory holding components respectively. Thus, in our study, we realistically decompose the components of spread and OTCEI and empirically too, we find that the components estimated from our methodology does reflect the market microstructure of OTCEI.
Apart from developing and empirically testing the theoretical model, we also see if it fits the observed data on OTCEI. We find that the theoretical model does not exactly conform to the observed data in OTCEI, necessitating some empirical fine-tuning. We build an empirical model which is again used to get the three components of spread.
We also estimate components of spread in OTCEI using Stoll's and Huang and Stoll's methodology and we compare them with the estimates obtained using our methodology. We find that Stoll's methodology overstates the Adverse information component of spread and understates the inventory holding component of spread and Huang and Stoll's methodology and Our methodology and model yields estimates of components of spread which is more in tune with the market micros tructure of OTCEI. The estimates obtained from empirical model too conforms to the market microstructure of OTCEI.