Letteratura scientifica selezionata sul tema "Debts purge"
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Articoli di riviste sul tema "Debts purge":
1
Burkhardt, Katrin, e Roland Strausz. "Accounting Transparency and the Asset Substitution Problem". Accounting Review 84, n. 3 (1 maggio 2009): 689–712. http://dx.doi.org/10.2308/accr.2009.84.3.689.
Abstract (sommario):
ABSTRACT: We develop a model to show that transparent accounting can worsen the asset substitution effect of debt. This negative effect can outweigh the usual positive effect of transparency. We demonstrate this point by comparing pure historical cost accounting to the conservatively skewed accounting regime of lower-of-cost-or-market (LCM). In a market with asymmetric information, the two regimes lead to different degrees of transparency. The more transparent LCM regime produces more efficient results for firms with lower debt levels, while the opaque rule of pure historical cost accounting is preferable for higher debt levels. We explore the implications of this result for the firm's optimal capital structure.
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Roberts, D. S. "'A nugget of pure truth': Woolf's Debt to De Quincey". Notes and Queries 52, n. 1 (1 marzo 2005): 94–95. http://dx.doi.org/10.1093/notesj/gji138.
3
François, Pascal, Georges Hübner e Nicolas Papageorgiou. "Strategic Analysis of Risk-Shifting Incentives with Convertible Debt". Quarterly Journal of Finance 01, n. 02 (giugno 2011): 293–321. http://dx.doi.org/10.1142/s2010139211000079.
Abstract (sommario):
Convertible debt eliminates asset substitution in a one-period setting (Green, 1984). But convertible debt terms are usually set before the asset substitution opportunity. This allows shareholders and convertible debtholders to play a strategic noncooperative game. Two risk-shifting Nash equilibria are attainable: pure asset substitution when, despite no conversion, shareholders benefit from shifting risk, and strategic conversion when, despite early conversion, convertible debtholders expropriate wealth from straight debtholders. Even when initial convertible debt is designed to minimize the risk-shifting likelihood, the risk of asset substitution remains economically substantial — contrasting with the agency theoretic rationale for issuing convertible debt.
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Sihombing, Lambok Hermanto, Aditya K, Barik H e Kerin A. "Debus Banten: In Between Myth, Belief, And Culture". MOMENTUM : Jurnal Sosial dan Keagamaan 10, n. 2 (30 ottobre 2021): 138–57. http://dx.doi.org/10.58472/mmt.v10i2.111.
Abstract (sommario):
Abstract Debus is one of the martial arts from the province of Banten, Indonesia.It is considered an art that is still controversial about its origin because this art shows the ability of people who are immune to sharp weapons, hydrochloric acid, and other dangerous materials that can be very harmful to human. It is still debatable that Debus is being associated with religion or belief for there is some ritual that is conducted during the practice. By using Cultural Identity as our main theory and encoding-decoding theory by Stuart Hall, the authors try to find out whether Debus Banten is still relevant in this current society and unpack the complexity of the diverse comments appearing on YouTube regarding the tradition. The data is taken from the comments from YouTube videos that use Debus Banten as the content. The result of this study suggests that topics appearing in the comments are not limited to the fight or the fighters. Interestingly, the topic is also about a debate that Debus Banten is a pure traditional martial arts or black magic.
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Turaeva, Rano, e Zarina Adambussinova. "Relations of Debt and Credit Networks in Post-Soviet Uzbekistan, Russia and Kazakhstan". Journal of Extreme Anthropology 6, n. 1 (25 luglio 2022): 26–47. http://dx.doi.org/10.5617/jea.9320.
Abstract (sommario):
Any relations and practices of debt within credit networks include not only pure economic exchange, such as barter or non-monetary exchange, but diverse kinds of social relations of debt. In this article, we consider case studies embedded in the particular context of early and late post-Soviet economic and political crisis, in which economic informalization was characterised by ‘wild capitalism’ or the absence of cash and livelihoods. We observe the coping strategies and mechanisms of economic survival adopted by ordinary people in response to these crises and to the absence of state social and economic institutions. We portray people’s concrete experiences of debt, solidary social relations, and economic exchange based on debt relationships in post-Soviet economies. The case studies are drawn from ethnographic material from Uzbekistan, Russia and Kazakhstan. Our case studies reveal that debt relations are not about two individuals who owe money but serve as the basis for debt-based trade, survival, and socializing networks, as well as part of moral economies. The article builds on scholarly works related to informal economies and survival mechanisms in post-Soviet space, to anthropology of debt, as well as discussion of (dis)trust.
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Rayl, Nelson P., e Nitish R. Sinha. "Integrating Prediction and Attribution to Classify News". Finance and Economics Discussion Series, n. 2022-042 (luglio 2022): 1–44. http://dx.doi.org/10.17016/feds.2022.042.
Abstract (sommario):
Recent modeling developments have created tradeoffs between attribution-based models, models that rely on causal relationships, and “pure prediction models” such as neural networks. While forecasters have historically favored one technology or the other based on comfort or loyalty to a particular paradigm, in domains with many observations and predictors such as textual analysis, the tradeoffs between attribution and prediction have become too large to ignore. We document these tradeoffs in the context of relabeling 27 million Thomson Reuters news articles published between 1996 and 2021 as debt-related or non-debt related. Articles in our dataset were labeled by journalists at the time of publication, but these labels may be inconsistent as labeling standards and the relation between text and label has changed over time. We propose a method for identifying and correcting inconsistent labeling that combines attribution and pure prediction methods and is applicable to any domain with human-labeled data. Implementing our proposed labeling solution returns a debt-related news dataset with 54% more observations than if the original journalist labels had been used and 31% more observation than if our solution had been implemented using attribution-based methods only.
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Eny Maryanti. "Determinan Profitabilitas Dengan Ukuran Perusahaan Sebagai Variabel Moderasi". Journal of Accounting Science 4, n. 2 (31 luglio 2020): 86–98. http://dx.doi.org/10.21070/jas.v4i2.1099.
Abstract (sommario):
This study aims to determine whether company size moderates the effect of current ratio, environmental performance and debt to equity ratio on the profitability of consumer goods industry companies found on the Indonesia Stock Exchange (IDX). The period of this research is 2017-2019. The study population includes all consumer goods industry companies found on the Indonesia Stock Exchange (IDX) for the period of 2017-2019. The sampling technique used was purposive sampling. The research population data were 114 companies, and obtained a sample of 45 companies. The data analysis method used is SmartPLS 3 (Partial Least Square). The results of this study indicate: company size can moderate the effect of current ratio, environmental performance and debt to equiy ratio to profitability, firm size weakens the influence of current ratio to profitability, company size weakens the influence of environmental performance on profitability, firm size weakens the influence of debt to equity ratio to profitability. The moderation variable in this study is included in the pure moderation variable (pure moderation) because the moderating effect 1,2,3 has an effect on profitability while the moderating variable (company size) has no effect on profitability.
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Liu, Wen-Chien. "Trade-off theory of capital structure: evidence from estimations of non-parametric and semi-parametric panel fixed effect models". Investment Management and Financial Innovations 14, n. 1 (31 marzo 2017): 115–23. http://dx.doi.org/10.21511/imfi.14(1).2017.12.
Abstract (sommario):
A firm’s capital structure decisions constitute an essential research topic academically and practically. In this study, the author uses the data of US listed firms to test the traditional trade-off theory of capital structure, which posits that firms should balance the benefit of tax shields and costs of financial distress to purse an optimal debt ratio. Therefore, to determine the complex relationship between firm value and debt ratio and avoid the problem of model misspecification, the author adopts the non-parametric fixed effect model and semi-parametric (partially linear) fixed effect model. Our empirical results reveal that a nonlinear and asymmetric relationship exists between firm value and market debt ratio, thus, considerably supporting trade-off theory. Moreover, the use of different definitions of key variables and various kernel functions engenders robust results. Overall, the author suggests that firm managers should employ financial leverages appropriately to maximize firm value.
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Kyrylenko, Olha, e Andrii Derlytsia. "Debt finance as a public phenomenon: conceptual basics and prospects of democratization". Herald of Ternopil National Economic University, n. 3(93) (7 luglio 2019): 35–50. http://dx.doi.org/10.35774/visnyk2019.03.035.
Abstract (sommario):
Introduction. Issues of budget deficits, public credit and debt form the sphere of debt finance – a model established in a particular country for ensuring the balance of the budget, the organization of government borrowings, the system of public debt management in order to influence the development of the economy and the functioning of public finance. Methods. The methods of abstraction, comparison, institutional analysis and idealization have been used. Results. The study draws attention to the microeconomic fundamentals of debt finance, considering them through the prism of the individual interests. It has been found out that the developed Western countries are characterized by the public nature of debt finances as a result of the evolutionary democratization of public debt – the accessibility of government debt operations to the general public. It is revealed that due to a number of institutional restrictions, the democratization of this sphere in Ukraine has not been fully implemented yet. It is proved that the public debt manifests the same power as pure public goods: the indivisibility in consumption and the impossibility to exclude from the debt burden, which enable its study as public bads. The key features that determine the social nature of debt finance in developed democratic countries are revealed. It is proved that the determinants of debt finance are both economic and political and institutional imbalances, not only in the area of public finance, but also at the level of economic entities. The key components of the institutional environment of the functioning of debt finance are considered: political decision- making mechanisms, procedures of the budget process, the institutional organization of the financial market. It is argued that one of the key shortcomings of the domestic practice of servicing domestic public debt is the insignificant share of debt owned by citizens. Conclusions. The disadvantages and obstacles of democratization of the model of borrowing in Ukraine are studied in the paper. A promising mechanism of financial inclusion of the population in transactions with government debt is proposed.
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Osawa, Toshiro. "Kant’s Debt to Baumgarten in His Religious (Un‐)Grounding of Ethics". Kant Yearbook 10, n. 1 (4 ottobre 2018): 105–23. http://dx.doi.org/10.1515/kantyb-2018-0006.
Abstract (sommario):
AbstractAlexander Gottlieb Baumgarten’s ethics had a significant influence on the formation of Kant’s ethics. The extent of this influence, however, has not been sufficiently investigated by existing Kant scholarship. Filling this gap, this paper aims to reveal Baumgarten’s substantial influence on the formation of Kant’s ethics, particularly the complex ways in which Kant’s ethics retains the concept of God as crucial for ensuring that his ethics persist under the scrutiny of reason. In a systematic comparison of the ethics of the two philosophers, I argue that Kant alters and yet accommodates several aspects of Baumgarten’s ethics in his own version of the system of ethics more thoroughly than has previously been perceived. More specifically, I argue, first, that Kant’s rejection of Baumgarten’s conception of “duties towards God” and his alternative notion that duties are recognized as if they were divine commands unveil his criticism of Baumgarten’s conception of how religion is situated in ethics. Second, I argue that Kant’s argument for the extension of pure reason for practical purposes discloses his critical response to Baumgarten’s optimistic assumption about the entirety of pure reason.
Tesi sul tema "Debts purge":
1
Defrance, David. "Le retour à meilleure fortune : Etude en droit des difficultés économiques". Thesis, Limoges, 2016. http://www.theses.fr/2016LIMO0041.
Abstract (sommario):
Le retour à meilleure fortune est un fait juridique résultant de l’amélioration soudaine de la situation patrimoniale d’un débiteur, par un gain à la loterie ou un héritage, le mettant en mesure de payer ses créanciers. Pris en compte dans la cession de biens sous l’Antiquité, le débiteur de bonne foi n’échappait à la prison pour dettes que contre l’abandon de ses biens et l’engagement de s’acquitter du reliquat dû après leur vente si la fortune venait de nouveau à lui sourire. Le droit positif n’accorde, aujourd’hui, que peu de place à ce fait juridique. En droit public, celui-ci constitue encore, dans le Code de l’action sociale et des familles ainsi que dans celui des collectivités territoriales, un critère de récupération des aides publiques. Et, en droit privé, la liberté contractuelle permet encore d’assortir la remise de dette d’une clause de retour à meilleure fortune afin d’organiser une réversibilité de l’abandon de créance. L’article 2284 du Code civil donne encore un effet juridique à cette situation en intégrant au gage commun des créanciers tous les biens nouveaux acquis par le débiteur. Partant de là, le retour à meilleure fortune devrait profiter aux créanciers. Mais ce principe est aujourd’hui malmené par un droit « à ne pas payer ses dettes ». Qu’il soit un consommateur ou un professionnel, le débiteur de bonne foi peut obtenir la purge de ses dettes. L’obligation de paiement du débiteur est alors éteinte y compris si la fortune vient de nouveau à lui sourire. Seuls les créanciers dont les droits sont juridiquement préservés des effets de la purge peuvent encore prétendre à un paiement dans une telle situation. Pour l’essentiel, le débiteur conserve donc l’acquis de son retour à meilleure fortune. D’ailleurs, la Commission européenne a demandé aux Etats-membres de l’Union d’encourager le rebond du débiteur par une politique en faveur de la seconde chance. Le législateur français a ainsi adopté différentes mesures en faveur du rebond pour encourager celui qui a échoué à retenter sa chance. Les présents travaux envisagent donc les incidences juridiques du retour à meilleure fortune en distinguant les situations dans lesquelles il est valorisé de celles où il est neutralisé ; avant d’aborder les mesures en faveur du rebond du débiteurReturn to better fortune is a legal item, consisting in a better financial state to the debtor by lottery or by inheritance. In this way, the creditors can obtain payment if the debtor’s situation happens to improve suddenly. A long with the transfer of property in Antiquity, the debtor in good faith could only avoid prison by abandoning his property and committing to pay off the balance due following its sale if fortune were again to smile on him. These days, the civil law contains indirect echoes of this concept. Today, the law accords but little room to this payment cause of action against a debtor. It is true that, under public law, it still qualifies as a criterion for recovery of public aid in the family and social Code as well as in the local authorities Code. And under private law, freedom of contract allows deferral of debt to be made subject to a return to better fortune clause so as to organize reversibility of abandoning property. Article 2284 of the Civil code includes all newly acquired property within a general pledge to creditors. In this way, return to better fortune should be profitable to creditors: they can obtain payment. But, for the main part, this concept is today ill-supported by a law “not to pay one’s debts”. Whether to be a consumer or a professional, the debtor in good faith can obtain purge of his debts. The debtor’s obligation to pay is thus extinguished, even if fortune were again to smile on him. Only creditors whose rights can be preserved juridically, by purge of this debts, are alleged to be paid in such a situation. But for the main part, the debtor conserves the fruit of his return to better fortune. Such policy in favor of a second chance, sought by the European institutions, has lead to the French legislator adopting recovery-favorable measures: the taking over of a company in difficulty has been favored and reintegration of the failed facilitated. Certain hurdles to recovery have also been removed in this research : on the one hand, return to better fortune valued, on the other hand, this situation neutralized ; before taking up the actions in favor of a second chance for the debtor
2
Alves, Ana Margarida Matias da Silva. "Behaviour of output and determinants during pure sovereign debt crises". Master's thesis, 2021. http://hdl.handle.net/10071/24247.
Abstract (sommario):
The current dissertation has the purpose to determine the macroeconomic determinants during pure sovereign debt crises and analyse their association with the behaviour of output, in the 1970-2017 period. Three different methods to measure economic growth were constructed, based on output variation and on detrend-output, with the Hodrick-Prescott and the Baxter-King filters. In 90 episodes, occurred in 54 countries, our findings revealed that: in 56% of total crises, there was an acceleration (expansionary crises), and in 44% there was a deceleration (contractionary crises) of the economic growth; expansionary crises prevailed in low- as well in middle-high-income countries; the 1980s were the decade with most severe crises. Countries with higher short-term debt, as a percentage of reserves, terms of trade, public debt and overvaluation of the real effective exchange rate, were the most susceptible to a slowdown in growth. A complementary study was implemented with the purpose of understanding the behaviour of the significant determinants in periods with no occurrence of crises. It was possible to conclude that external debt-to-GDP ratio and short-term debt-to-reserves, lead to a drop in growth in crisis periods, as well as in periods with no crisis’ episodes, with the impact increasing considerably in times of crisis. As robustness examination, the study was re-estimated with a different criterion of defining pure sovereign debt crisis, and alternative dummies were included in the regression, namely decades and income-level dummies. Results are robust for all estimations.A presente dissertação tem por objetivo definir os determinantes macroeconómicos das crises puras de dívida soberana e estudar a sua ligação com o comportamento do produto, no período de 1970-2017. Foram construídas três medidas diferentes para calcular o crescimento económico, baseadas na variação do PIB, e no produto cíclico, calculado com os filtros "Hodrick-Prescott e Baxter-King". Em 90 episódios, ocorridos em 54 países, os nossos resultados revelaram que: em 56% das crises, existiu uma aceleração (crises expansionistas), e em 44%, uma desaceleração (crises contracionistas), do crescimento económico; as crises expansionistas prevaleceram tanto em países de baixo rendimento, como de médio-alto rendimento; a década de 80 foi a que vivenciou crises mais severas. Os países com maiores valores de dívida de curto-prazo, em percentagem das reservas, termos de troca, dívida pública e sobrevalorização da taxa de câmbio efetiva real, foram os mais suscetíveis a uma desaceleração do crescimento económico. Foi realizado um estudo complementar com o intuito de compreender o comportamento dos determinantes em períodos sem ocorrência de crises. Foi possível concluir que a dívida externa, em percentagem do PIB, e a dívida de curto-prazo, em percentagem das reservas, levaram a uma diminuição do crescimento tanto em períodos de crise, como em períodos onde não se verificaram episódios de crises puras, sendo que o impacto aumentou consideravelmente em períodos de crise. O estudo foi re-estimado com um critério diferente de definição de crise pura de dívida soberana, e foram incluídas variáveis "dummy" alternativas relativas ao nível de rendimentos dos países e às décadas do período. Os resultados são robustos em todas as estimações.
Libri sul tema "Debts purge":
1
Potter-MacKinnon, Janice. Minding the public purse: The fiscal crisis, political trade-offs, and Canada's future. Montreal: McGill-Queen's University Press, 2003.
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Glasberg, Davita Silfen. The power of collective purse strings: The effects of bank hegemony on corporations and the state. Berkeley: University of California Press, 1989.
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Mackinnon, Janice. Minding the Public Purse: The Fiscal Crisis Political Trade-Offs and Canadas Future. McGill-Queen's University Press, 2004.
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Glasberg, Davita Silfen. Power of Collective Purse Strings: The Effect of Bank Hegemony on Corporations and the State. University of California Press, 2021.
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Glasberg, Davita Silfen. Power of Collective Purse Strings: The Effect of Bank Hegemony on Corporations and the State. University of California Press, 2021.
Capitoli di libri sul tema "Debts purge":
1
Alvarez-Plata, Patricia, e Tilman Brück. "9 Postwar Debts: Time for a New Approach". In Peace and the Public Purse, 245–70. Lynne Rienner Publishers, 2007. http://dx.doi.org/10.1515/9781626372221-010.
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"Mexico’s Foreign Debt Crisis:". In The Power of Collective Purse Strings, 144–80. University of California Press, 2023. http://dx.doi.org/10.2307/jj.2430417.9.
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"9 Reimagining Debt: The Rat and the Purse". In Reimagining Money, 128–47. Stanford University Press, 2021. http://dx.doi.org/10.1515/9781503614420-011.
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Schindler, Dirk, e Hendrik Vrijburg. "ACE or CBIT for the Netherlands?" In Tax by Design for the Netherlands, 183–203. Oxford University Press, 2021. http://dx.doi.org/10.1093/oso/9780192855244.003.0010.
Abstract (sommario):
The traditional corporate tax regime creates costly distortions via a preference for debt over equity and possibilities to shift profits to low-tax countries. To overcome these problems, fundamental reforms towards a comprehensive business income tax (CBIT) or an allowance for corporate equity (ACE) have been proposed. A pure CBIT is undesirable—while reducing debt bias and profit shifting, it exacerbates investment distortions. However, a pure ACE is undesirable as well. Although the ACE would both remove debt bias and no longer distort firms’ investment decisions, it would strengthen profit shifting. Because the world features multiple distortions that cannot be simultaneously eliminated, tax policy should not aim to fully remove all finance distortions to contain investment distortions and profit shifting. Therefore, the current system should be amended by a stripping rule that restricts deductibility of interest expenses and royalty payments to a certain threshold of earnings before interest, taxes, depreciation, and amortization (EBITDA).
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"6. Mexico's Foreign Debt Crisis: Bank Hegemony, Crisis, and the State". In The Power of Collective Purse Strings, 144–80. University of California Press, 1989. http://dx.doi.org/10.1525/9780520329461-007.
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Bourke, Richard. "Natural Society and Natural Religion, 1750–1756". In Empire and Revolution. Princeton University Press, 2017. http://dx.doi.org/10.23943/princeton/9780691175652.003.0003.
Abstract (sommario):
Prior to developing his conception of the limits of natural reason, Burke had come to privilege the achievements of artificial reason. He acquired this preference during the course of his legal studies. This chapter describes how within five years of his arrival in London, Burke was extending his ideas about the limits of pure reason to contemporary debates about the mysteries of the creation and revelation. He first ventured along this path in a series of essays that he wrote in the early 1750s. His first major publication, A Vindication of Natural Society is less an exercise in political philosophy than a literary polemic concerned to expose the limits of deism. Together with his early essays, it reveals the scale and depth of his suspicion of religious skepticism as publicised by men like John Toland, Anthony Collins, Matthew Tindal, and Bolingbroke. It provides a glimpse his early debts to Tillotson, Stillingfleet, and Berkeley, as well as his enduring sympathy with the epistemologies of Locke and Butler.
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Wolf, Ishay, e Smadar Levi. "Funded Pension Schemes in Aging Societies: A Pure Economic Argument?" In Accounting and Finance Innovations. IntechOpen, 2021. http://dx.doi.org/10.5772/intechopen.101042.
Abstract (sommario):
This study enables different angel to explore central planners’ considerations regarding pension systems in a modern western market with aging influence. In particular, considerable weight has been given to the effect of the crisis due to the pandemic and frequent market turmoil. This study expands the number of players analyzed in the field and takes into consideration different interests among the current and future generations. In addition, we allow differentiation among earning cohorts. By using the overlapping generation model and Monte Carlo simulations, we find that in a wide macroeconomic range, pension equilibrium surprisingly stands with unfunded pension schemes despite the heavy aging influence. Contrary to the classic economic arguments by the World Bank and IMF that were widespread during the 1980s and 1990s, the choice of a pension system is much more complex. We find that the central planner must take into account not only the aging rhythm and market yield but also other parameters, such as the current and future utility perspective, the government’s debt price, GDP per capita growth rate, risk aversion, and the possibility of market turmoil.
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Gibbons, Sarah L. "Imagination and the Schematism". In Kant’s Theory of Imagination, 53–78. Oxford University PressOxford, 1994. http://dx.doi.org/10.1093/oso/9780198240419.003.0003.
Abstract (sommario):
Abstract Kant considers the Schematism part of the ‘transcendental doctrine of judgment’ in which he ‘will treat of the sensible condition under which alone pure concepts of understanding can be employed’ (A 136 / B 175). Although the Schematism is billed as an element of a doctrine of judgement, its primary debt seems to be to the analysis of imagination in the Transcendental Deduction rather than to any of the earlier descriptions of judgement. In articulating a doctrine of judgement, Kant intends to consider aspects of judgement other than its logical forms, or even the role of the categories in making possible the judgement of an object in general described in the Transcendental Deduction. The Schematism turns our focus away from the nature and role of the categories as forms of unity in judgement to the problem of how it is possible to apply them to material that is sensibly intuited.
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Southgate, Douglas, e Morris Whitaker. "Development and the Environment: Some Common Fallacies". In Economic Progress And The Environment, 113–23. Oxford University PressNew York, NY, 1994. http://dx.doi.org/10.1093/oso/9780195087864.003.0010.
Abstract (sommario):
Abstract This book’s analysis contrasts sharply with some widely circulated notions of why environmental quality is declining in places like Ecuador. Many believe that demographic growth is out of control and, as a result, the human population has already or will soon exceed what the environment can support. Others say that economic growth, pure and simple, needs to be kept in check because it puts too much pressure on natural resources. Still others view the unfettering of market forces in Latin America with concern. They concede that this departure from past economic policy is needed to stimulate development. However, they worry that the environment and poor people will suffer. Yet another perspective has nothing to do with Malthusian pessimism. Neither do its adherents necessarily question economic liberalization. Instead, they doubt that the investment in education and technological improvement required to achieve sustainable development is within poor countries’ reach. In particular, they point to the debt crisis and adverse terms of trade as reasons why fiscal capacity is unduly restricted in Africa, Asia, and Latin America.
Atti di convegni sul tema "Debts purge":
1
Kanellopoulos, Panagiotis, Maria Kyropoulou e Hao Zhou. "Forgiving Debt in Financial Network Games". In Thirty-First International Joint Conference on Artificial Intelligence {IJCAI-22}. California: International Joint Conferences on Artificial Intelligence Organization, 2022. http://dx.doi.org/10.24963/ijcai.2022/48.
Abstract (sommario):
We consider financial networks, where nodes correspond to banks and directed labeled edges correspond to debt contracts between banks. Maximizing systemic liquidity, i.e., the total money flow, is a natural objective of any financial authority. In particular, the financial authority may offer bailout money to some bank(s) or forgive the debts of others in order to maximize liquidity, and we examine efficient ways to achieve this. We study the computational hardness of finding the optimal debt-removal and budget-constrained optimal bailout policy, respectively, and we investigate the approximation ratio provided by the greedy bailout policy compared to the optimal one. We also study financial systems from a game-theoretic standpoint. We observe that the removal of some incoming debt might be in the best interest of a bank. Assuming that a bank's well-being (i.e., utility) is aligned with the incoming payments they receive from the network, we define and analyze a game among banks who want to maximize their utility by strategically giving up some incoming payments. In addition, we extend the previous game by considering bailout payments. After formally defining the above games, we prove results about the existence and quality of pure Nash equilibria, as well as the computational complexity of finding such equilibria.
2
Limam, Ali, Liang-Hai Lee e Stelios Kyriakides. "Effect of Local Imperfections on the Collapse of Tubes Under Bending and Internal Pressure". In 2010 8th International Pipeline Conference. ASMEDC, 2010. http://dx.doi.org/10.1115/ipc2010-31594.
Abstract (sommario):
Previous work by the authors investigated the inelastic response and stability of pipes bent in the presence of internal pressure [1,2]. It was shown that internal pressure tends to stabilize the pipe by reducing initial geometric imperfections and reducing the induced ovalization. Consequently pressurized pipe can sustain significantly higher bending strains before collapse than pipe bent in the absence of pressure. Pipelines have girth welds and other local imperfections such as dents. The present phase of this work uses experiment and analysis to investigate the effect of local dents on the collapse capacity of pressurized pipes under pure bending. A series of experiments was conducted on stainless steel 321 seamless tubes with diameters of 1.5 inches and D/t of 52. Small imperfections in the form of transverse dents were introduced to the specimens using a custom technique that limits the axial and circumferential spans of the dents. The dented tubes were loaded by pure bending at a fixed internal pressure (approximately one half the yield pressure) to collapse. Tubes with dent depths ranging from very small to about 1.7 times the pipe wall thickness were tested. It was found that such local imperfections tend to reduce the bending strain capacity of the pipe quite significantly. Smaller depth dents tend to cause relatively larger reduction in the bending strain at collapse whereas at larger depths the bending strain at collapse tends to level off. The inelastic response and the eventual localized collapse are being simulated using FE models. The material is represented as an anisotropic elastic-plastic solid using the flow theory of plasticity. The modeling includes simulation of the denting process followed by pressurization and bending. It will be shown that all aspects of the observed behavior including the sensitivity of collapse strain to the local imperfection are reproduced well by the models.
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Jain, Adish, Paul Dickens e Neto Obasi. "Developing the Roadmap for Mature Assets in Energy Transition". In International Petroleum Technology Conference. IPTC, 2024. http://dx.doi.org/10.2523/iptc-24604-ea.
Abstract (sommario):
Abstract There are numerous hydrocarbon processing facilities worldwide which are at varying stages of their operating lifecycle. In most cases, these debt free assets remain free cash flow generative with positive operating gross margins. However, extending operation beyond design life presents credible safety risks, business risks and operational challenges to the oil and gas industry and requires continued increased investment to keep these assets operational. In parallel, asset owners need to manage the societies’ decarbonisation expectations to continue operation. This paper presents an integrated approach which can help the asset owner to develop a future roadmap for their facilities. The approach presented in the paper covers the assessment procedures for remaining life, pertinent ageing mechanisms which affect the process facilities and proactive surveys to be carried to develop a complete picture of the actual mechanical condition of the assets. Each unit operation is assessed for best practice technology and safety. Various scenarios incorporating end-of-life equipment renewals, technology and safety upgrades are then developed in combination with decarbonisation targets and the additional investment is determined. The visibility of such investment, then, helps to develop long term plan for the asset. Three case studies are presented to illustrate the above approach. A roadmap was developed to meet the decarbonisation expectations with phased selection of minimum investment requirement items followed by higher investment options. The recommendations include but are not limited to eliminating fuel oil firing, flare gas recovery, diverting hydrogen rich gas to fuel gas where possible due to process reasons, reducing high pressure steam consumption, using low pressure steam for purge and other energy optimisation projects. Further optimisations requiring additional investment are utilising higher energy efficient equipment when existing equipment are replaced due to end of life, recovering waste material from loading and unloading facilities and recycle of treated waste water for steam generation. The high investment options include updated energy efficient process technology with major modifications, sourcing green electricity, providing carbon capture facilities at high emitters and development of carbon free energy solutions. With a timeline of all asset expenditure drivers and possible alternatives, the asset owner is most profitably able to prioritise and best time asset renewal, upgrade or decommissioning.