Дисертації з теми "Rating actions"
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Pettinato, Ombretta. "Do target prices predict rating changes?" Doctoral thesis, Università degli studi di Trieste, 2008. http://hdl.handle.net/10077/2637.
Повний текст джерелаBoth rating agencies and stock analysts evaluate publicly traded companies and communicate their opinions to investors. Empirical evidence indicates that stock prices react to both bond rating changes (at least downgrades) and changes in analysts’ earning forecasts, suggesting that both pieces of information are valuable to investors. While most academic research has been focused on studying the impact of rating actions on bond prices, stock returns or earning forecasts, surprisingly, the relationship between target prices and rating actions has remained essentially unexplored. Our study contribute to the existing literature by providing an evidence, not yet explored, of any anticipation in target prices revision prior to a rating actions, in order to analyze the ability of equity analysts to predict the decisions of the main rating agencies. Moreover, our work is related to the empirical literature that investigates the optimism of analysts’ recommendations and we provide evidence about the mean target price to current price ratio for the Italian market. Using a large and unique database, we find that TP/P ratio over the period 2000-2005 is 1,15, that is target prices are 15% higher than current stock prices. The motivation of this research stems from the empirical evidences that 1) target prices are statements incorporating earnings forecasts, which have proven to be meaningfully correlated with rating actions ,2) target prices revisions are released much more frequently than rating actions 3) downgrades (upgrades) associated with negative (positive) revision of the firm’s prospective cash flows will negatively(positively) affect bondholders and, to a larger extent, equity holders who have secondary claims compared to debt. On the basis of a set of hypotheses, we expect that downgrades can be anticipated by a reduction in target prices and that, in the case of upgrades, the anticipation effect should be more evident. Changes in target prices prior to rating actions are estimated, controlling for the anticipations through watches and the sector of the rated firm. Using a complete and unique data set of rating actions released by Moody’s, Standard & Poor’s and Fitch from 1st January 2000 to 31st December 2005, for the Italian listed firms and for an European sample, we find that positive rating events are anticipated by consistent increases of the target prices released in the four months before the rating action. The evidence is less clear for negative rating events, since significant reductions in target prices are observable only in a shorter window (three months). Our results reflect analysts’ overly-optimistic behavior and the fact that they are less likely to reduce than to increase target prices over time. Results also differ controlling by the sector. Looking at the Italian sample (composed mainly by financial firms) and at the European financial sub sample we find that: target prices reduction prior to a downgrade is highly evident in the financial sector while it is not clear at all for the non financial sector. According to Gropp and Richards (2001) and Schweitzer et al. (1992), we thus observe strong differences between the two groups of issuers (financial and industrial ones). We argue that the different regulatory regimes, which imply different degrees of transparency, could explain the asymmetric behavior of target prices. We finally investigate whether the anticipation of a rating action by a watch list in the same direction, may influence our results. In this paper, we follow Hand et al. [1992] and use credit watches in two ways. First, we examine changes in target prices around credit watches, testing whether they contain relevant market information. Second, we use them as a means of distinguishing between contaminated and uncontaminated ratings changes. As in Hand et al. [1992] we argue that a ratings change that is preceded by a ratings watch in the same direction should be largely anticipated and, hence, should be associated with significant changes in target prices. Comparing the average change in target price for contaminated versus uncontaminated rating actions, we find that contaminated downgrades show more pronounced reductions in target price over time while there is no significant difference for upgrades. This difference can be explained according to whether or not the watch list was released during the four months prior to the rating action, corresponding to our observation window. Since watch lists are usually released on average three months before the downgrade, they fall into our observation window, bringing with them a further reduction in target price. Overall, the results suggest that target prices may perform a useful role in anticipating rating changes and confirm prior evidence that rating actions can be predicted from publicly available information, at least for financial sector. The remainder of this work is organized as follows. Chapter 1 discusses the main informational content of ratings, rating criteria and procedures. Following that, in Chapter 2, we examine the main content of reports on Italian stocks, to find out the evaluation method used to get the final recommendation and the main differences between analysts’ justifications for reports that disclose target prices versus those that do not. The different disclosure levels of target prices across stock recommendations suggest that analysts are more inclined to provide them when their recommendations are more favorable (i.e., Buy or Strong Buy) than they are when their recommendations are less favorable (i.e., Hold). Finally, in Chapter 3, we investigate whether ratings actions can be predicted from publicly available information by examining any target price changes prior to the rating action, on the basis of a set of hypotheses to be tested. The research design and methodology are described in Chapter 3, along with the main conclusions of the empirical evidence. The work closes with a summary and suggestions for future research.
XX Ciclo
1979
Cock, Craig. "Influence of strike action on South Africa s credit rating by global rating agencies." Diss., University of Pretoria, 2015. http://hdl.handle.net/2263/52371.
Повний текст джерелаMini Dissertation (MBA)--University of Pretoria, 2015.
sn2016
Gordon Institute of Business Science (GIBS)
MBA
Unrestricted
Panero, Maria Eugenia. "Rating the Acting Moment: Dissociation, Flow, and Empathy after a Monologue Performance." Thesis, Boston College, 2018. http://hdl.handle.net/2345/bc-ir:107956.
Повний текст джерелаActors make imagined characters in imaginary circumstances come alive, as if they were real. What cognitive processes make it possible for actors to accomplish this feat? The goal of this dissertation was to examine three characteristics that actors may possess and that might make this possible: dissociation, flow, and empathy. Acting students (n = 44) and non-acting students (n = 43) first completed a baseline measure of dissociation, and then performed a monologue that was given to them. This performance was recorded and later rated on dimensions of acting. Participants next completed self-report measures of dissociation, flow, and empathy. It was hypothesized that acting students would score higher than non-acting students on all three measures, and that dissociation of all participants would increase post-performance. I also assessed whether acting experience, dissociation, flow, empathy, and/or the time taken to prepare the monologue for performance predicted performance ratings. The results revealed that acting students scored significantly higher than non-acting students on flow (and some of its subscales) and empathy (and some of its subscales). Although no group differences emerged on pre-performance levels of dissociation, only acting students significantly increased their level of dissociation post-performance. Finally, acting experience was the only significant predictor of performance ratings for both acting and non-acting students. This research demonstrates that, compared to non-acting students, acting students report higher levels of empathy and flow immediately after performing a monologue. Additionally for acting students, levels of dissociation rise after performing the monologue. Empathy and dissociation are likely important tools used by actors to “become” a character, and flow is likely the result of actors’ ability to immerse themselves fully in the performance. Nevertheless, acting experience is the strongest predictor of how a performance will be rated
Thesis (PhD) — Boston College, 2018
Submitted to: Boston College. Graduate School of Arts and Sciences
Discipline: Psychology
Thye, Russell A. "Testing the goal instability and superiority scales : toward a narcissistic character typology /." free to MU campus, to others for purchase, 1999. http://wwwlib.umi.com/cr/mo/fullcit?p9964003.
Повний текст джерелаHaines, Nathaniel. "Decoding facial expressions that produce emotion valence ratings with human-like accuracy." The Ohio State University, 2017. http://rave.ohiolink.edu/etdc/view?acc_num=osu1511257717736851.
Повний текст джерелаSAPONARO, MICHELE. "LA RESPONSABILITA' DELLE AGENZIE DI RATING NEI CONFRONTI DEITERZI." Doctoral thesis, Università Cattolica del Sacro Cuore, 2012. http://hdl.handle.net/10280/1550.
Повний текст джерелаThe present work is focused on the examination of the relationship between the current regulation of credit rating agencies and the rules of civil liability to which agencies may be subject to, in light of the regulatory treatment of the U.S. credit rating agencies, both according legislation and case law, and the legal theories developed on the case of liability for incorrect information to the market. The regulation introduced by the European Union plays a major role to find out the basis of liability, the duties of diligence and the legal and material causality nexus. EU regulation, in light of U.S. case law, can envisage a scenario in which the raters are subject to different rules of liability on the basis of the different status recognized by the relevant legislation. The new EU regulation is called to play a dual role: to establish, although not explicitly, a sort of private action for negligence on the part of investors against a registered agency, and to help in defining the scope of the obligations of the credit rating agency, strengthening the position of the third investor damaged by inaccurate ratings and providing an useful support to the public enforcement remedies.
SAPONARO, MICHELE. "LA RESPONSABILITA' DELLE AGENZIE DI RATING NEI CONFRONTI DEITERZI." Doctoral thesis, Università Cattolica del Sacro Cuore, 2012. http://hdl.handle.net/10280/1550.
Повний текст джерелаThe present work is focused on the examination of the relationship between the current regulation of credit rating agencies and the rules of civil liability to which agencies may be subject to, in light of the regulatory treatment of the U.S. credit rating agencies, both according legislation and case law, and the legal theories developed on the case of liability for incorrect information to the market. The regulation introduced by the European Union plays a major role to find out the basis of liability, the duties of diligence and the legal and material causality nexus. EU regulation, in light of U.S. case law, can envisage a scenario in which the raters are subject to different rules of liability on the basis of the different status recognized by the relevant legislation. The new EU regulation is called to play a dual role: to establish, although not explicitly, a sort of private action for negligence on the part of investors against a registered agency, and to help in defining the scope of the obligations of the credit rating agency, strengthening the position of the third investor damaged by inaccurate ratings and providing an useful support to the public enforcement remedies.
Parker, Sakena. "Distributive- and procedural justice: towards understanding fairness perceptions of performance appraisals in a national government department office, Chief Directorate Surveys and Mapping." Thesis, University of the Western Cape, 2006. http://etd.uwc.ac.za/index.php?module=etd&action=viewtitle&id=gen8Srv25Nme4_5681_1183429128.
Повний текст джерелаPerceptions of performance management in the South African Public Sector was characterised by high levels of unfairness owing to a bias in favour of those individuals that can write essays well. The essays would provide the evaluation team with an indication of the achievement of the individual as its relates to job performance, knowledge, insight, interpersonal relations and leadership qualities. Although the Performance Management system has changed from what was called the Performance Appraisal System to the Personnel Performance Management System that involves both supervisor and employee inputs, fairness perceptions remain unchanged. This study aimed to ascertain perceptions of fairness toward performance appraisals amongst public service raters and ratees on Level 1 to 12 who are subject to use the Personnel Performance Management System in the office of a public service organisation: National Department of Land Affairs Chief Directorate : Surveys and Mapping.
Kamande, Ian Edmond Kuria. "The role of political business cycles (PBCs) and its influence on the credit rating action that countries receive: A BRICS perspective." Master's thesis, Faculty of Commerce, 2018. https://hdl.handle.net/11427/32101.
Повний текст джерелаScheepers, Jacqueline Norma. "Narratives of assessment: the newsletter as case study." Thesis, University of the Western Cape, 2005. http://etd.uwc.ac.za/index.php?module=etd&action=viewtitle&id=init_2044_1180439179.
Повний текст джерелаThe purpose of this thesis was to evaluate success of an integrated newsletter assignment for first year Human Resource Management students as an authentic and meaningful form of assessment by tracing and deciphering the narratives of the role-players. The study also examined the role that the newsletter can play regarding experiential learning, which is an essential component of teaching and learning at technikons in South Africa.
Beitel, Gerald Alan Blase. "Exploring the dark side, the effects of employment equity/affirmative action and job performance on expectations and performance ratings." Thesis, National Library of Canada = Bibliothèque nationale du Canada, 2000. http://www.collectionscanada.ca/obj/s4/f2/dsk1/tape2/PQDD_0018/MQ55177.pdf.
Повний текст джерелаCarlson, Paul Albin. "Lipid high-axial-ratio microstructures as pharmaceutical delivery systems : a physical characterization of the mechanisms behind drug release /." Thesis, Connect to this title online; UW restricted, 1999. http://hdl.handle.net/1773/8111.
Повний текст джерелаHaff, G. Gregory, R. Ruben, M. Molanari, Keith B. Painter, Michael W. Ramsey, Margaret E. Stone, and Michael H. Stone. "The Relationship between the Eccentric Utilization Ratio, Reactive Strength and Pre-Stretch Augmentation and Selected Dynamic and Isometric Muscle Actions." Digital Commons @ East Tennessee State University, 2009. https://dc.etsu.edu/etsu-works/4522.
Повний текст джерелаLaval, Pierre-François. "La compétence ratione temporis des juridictions internationales." Thesis, Bordeaux 4, 2011. http://www.theses.fr/2011BOR40030.
Повний текст джерела"Jurisdiction ratione temporis" is an expression that derives from case law, the meaning of which varies depending on the context it is used in. As it appears in International court decisions, it is used to mean the time during which the court has the authority to exercise jurisdictional power which also relates to the time during which the State’s consent to jurisdiction is valid. Jurisdiction ratione temporis also means the time period during which the court has the power to judge as the States often specify categories of disputes for which they can be brought to justice as ratione temporis. On this basis, legal doctrine only sees temporal jurisdiction as a variable notion that is not particularly useful in analysing positive law, and prefers to refer to either jurisdiction ratione personae when there is an issue of whether the State has agreed to submit to the jurisdiction of the court, or to jurisdiction ratione materiae for categories of disputes for which a court could have jurisdiction. Studies on International case law however call into question the justification of such an analysis. If we can consider that in temporal jurisdiction there is an element of identifying the jurisdictional sphere of the court and therefore an aspect of its jurisdiction ratione materiae, the problem of the time during which a court has jurisdiction cannot be practically solved by referring to the concept of jurisdiction ratione personae. Given the way in which courts apply the title of jurisdiction ratione temporis, this does not appear to be just an act by which the States agree to submit to the jurisdiction of the court but first of all as the very basis of the action. In this, the explanations of the solutions of the International courts cannot ignore a concept that is specific to the duration of authorisation, that of jurisdiction ratione temporis
Dhakal, Robin. "Education and Health Impacts of an Affirmative Action Policy on Minorities in India." Scholar Commons, 2017. http://scholarcommons.usf.edu/etd/7017.
Повний текст джерелаYeatts, Sharon Dziuba. "Statistical Methods and Experimental Design for Inference Regarding Dose and/or Interaction Thresholds Along a Fixed-Ratio Ray." VCU Scholars Compass, 2006. http://hdl.handle.net/10156/1956.
Повний текст джерелаWorku, Eshetu Bekele. "Efficiency and Social Capital in Micro, Small and Medium Enterprises: the Case of Ethiopia." Thesis, University of the Western Cape, 2008. http://etd.uwc.ac.za/index.php?module=etd&action=viewtitle&id=gen8Srv25Nme4_2168_1263780307.
Повний текст джерелаThis study extends the existing literature on how social networks enhance the performance and sustainability of small enterprises. More specifically, the study isolates and investigates the mechanisms through which social capital helps with the growth and survival of MSMEs. The evidence presented in this study strongly suggests that an indigenous social network widely practiced in Ethiopia, the &ldquo
iqqub&rdquo
, contributes significantly to the start-up, survival and development of urban MSMEs.
Petrov, Pavel. "Effect of Curvature Squared Corrections to Gravitational Action on Viscosity-to-Entropy Ratio of the Dual Gauge Theory." Thesis, Harvard University, 2012. http://dissertations.umi.com/gsas.harvard:10549.
Повний текст джерелаPhysics
Mubuuke, Aloysius Gonzaga. "The use of a structured formative feedback form for students` assignments in an African health sciences institution : an action research study." Thesis, Stellenbosch : Stellenbosch University, 2012. http://hdl.handle.net/10019.1/71659.
Повний текст джерелаBackground: Formative feedback is an important process in facilitating student learning as it helps students identify learning gaps early enough and devise means of covering those gaps. Most health professional educators spend most of the time designing summative assessment tools and pay little emphasis to giving qualitative feedback to students throughout the learning process. This problem has been identified at Makerere University College of Health Sciences (MaKCHS) and forms the basis of this study. Objectives: To investigate prior understanding of students and lecturers about formative feedback. The study also aimed at exploring experiences of students and lecturers regarding implementation of feedback in a resource-constrained context. Methods: This was an action research study using a participatory approach. Results: Initially, lecturers had some prior knowledge of feedback, however, students had misconceptions of what feedback could mean. After introducing a written feedback form, all participants expressed satisfaction with the feedback process. Key themes that emerged included: enhancing motivation, enhancing learning, promoting reflection and clarifying understanding. Conclusion: Students` motivation to learn can be greatly enhanced through formative qualitative feedback. A simple structured form is one way of providing qualitative formative feedback to students in resource-limited settings. Key words: formative feedback, structured form, action research.
Slimani, Zakaria. "La mise en place d'un modèle d'évaluation des actifs financiers dans le paradigme de finance islamique." Thesis, Grenoble, 2014. http://www.theses.fr/2014GRENG018.
Повний текст джерелаThe Islamic investor differs from its counterpart type, the homo-economicus, in its approach to the act of investment. Indeed, the first is not based solely on financial criteria to prioritize its investment choices, but also uses moral and ethical criteria to assess the effectiveness of its financial allocations. This particular behavior is explained by the fact that, performing acts of investments consistent with Islamic business ethics generates a pleasure of piety to this type of investor. The neo-classical financial theory ignores the existence of the pleasure of piety and its potential impact on the process of selecting investments. Also, portfolio theory and its corollary, the theory of CAPM do not take into account the preferences of the Islamic investor. Therefore, it is not able to use them to assess the effectiveness of its investment choices. To overcome this theoretical failure, we offer through our research, a model of asset pricing that takes into account the specificities of Islamic investment, for example, the inability to achieve a short selling and taking into account ethical and moral aspects of investment portfolios. This model should allow the homo-islamicus to achieve optimal allocation of its financial resources. The main results of our research show that unlike conventional socially responsible investment, Islamic investment is ethical and altruistic types. This specificity requires Islamic rating agencies, to take into account the levels of charitable giving that makes every business, when calculating its ethical note. We therefore develop a rating model for companies and investment portfolios that takes into consideration the specificity of Islamic investment. Subsequently, we propose two alternatives that enable Islamic investors to circumvent the prohibition to perform conventional short selling transactions. Finally, we build our Islamic assets pricing model
Melo, RadamÃs Bezerra. "Anti-inflammatory and antioxidant action of oil mixes of omega 9, 6 and 3 with low ratio omega-6/omega-3 and high ratio omega-9/omega-6 after dental extraction in rats." Universidade Federal do CearÃ, 2014. http://www.teses.ufc.br/tde_busca/arquivo.php?codArquivo=17575.
Повний текст джерелаOil fatty acids omega-3 and omega-9 have anti-inflammatory and antioxidant activities, while the omega-6 has pro-inflammatory action. The aim of this study was to evaluate the presence of antioxidant and anti-inflammatory effects with high nutraceutical ratio of omega-9: omega-6, antioxidant properties, and low ratio omega-6: omega-3, anti-inflammatory properties three days after tooth extraction in rats. Thirty-two young Wistar rats with 270-310g were randomly divided into four groups of 8 animals: Group Sham, Saline Group, Isolipid Group, and Mix Test Group. The animals received 0.9% NaCl, Sham Group and Salina Group, or Isolipid Mix (alpha-linolenic acid - ALA) mixture containing omega-6: omega-3 oils (ratio 8:01) and omega-9: omega-6 (ratio 0.4:1), Isolipid group, or Mix Test (alpha-linolenic acid - ALA, docosahexaenoic acid - DHA, eicosapentaenoic acid - EPA) omega-6: omega-3 (ratio 1.4: 1) and omega-9: omega -6 (3.4:1 ratio), Mix Text Group by gavage 1.2g solutions for kg/day for four days before and three days after the extraction of the left mandibular first molar. Evaluation of edema generated by the surgical procedure and collected the perialveolar the site of tooth extraction and dental alveolar mucosa itself for laboratory testing were performed: myeloperoxidase, osteoclast count, concentrations of TNF-α and IL-1β, glutathione (GSH) and thiobarbituric acid reactive substances (TBARS). The Mix Test induced a significant decrease on post-operative edema, myeloperoxidase , osteoclasts count , GSH in blood and tissue, on tissue and plasma TBARS and on the TNF-αconcentration, but did not show significant difference on the IL-1β concentration at the third post-operative day. The gavage with the Mix Test showed anti-inflammatory and antioxidant actions after molar tooth extraction in rats.
Os Ãcidos graxos insaturados Ãmega-3 e Ãmega-9 possuem aÃÃo anti-inflamatÃria e antioxidante, enquanto o Ãmega-6 possui aÃÃo prÃ-inflamatÃria. O objetivo do presente estudo foi avaliar a aÃÃo antioxidante e anti-inflamatÃria do mix de Ãleos em concentraÃÃes nutracÃuticas com alta razÃo Ãmega-9: Ãmega-6, favorecendo aÃÃo antioxidante, e baixa razÃo Ãmega-6:Ãmega-3, favorecendo aÃÃo anti-inflamatÃria no terceiro dia pÃs exodontia em ratos. Foram utilizados trinta e dois ratos Wistar jovens com 270-310g distribuÃdos aleatoriamente em quatro grupos de 8 animais: Grupo Sham, Grupo SoluÃÃo Salina, Grupo mix isolipÃdico e Mix Teste. Os animais receberam NaCl 0,9%, Grupo Sham e Grupo SoluÃÃo Salina, ou mix isolipÃdico, (Ãcido alfa-linolÃico - ALA) mistura contendo Ãmega-6:Ãmega-3 Ãleos (relaÃÃo de 8:01) e Ãmega-9:Ãmega-6 (relaÃÃo 0,4:1), Grupo IsolipÃdico, ou Mix Teste (Ãcido alfa-linolÃnico - ALA, Ãcido docosahexaenÃico - DHA, Ãcido eicosapentaenÃico - EPA) de Ãmega-6:Ãmega-3 (relaÃÃo 1,4:1) e Ãmega-9:Ãmega -6 (3,4:1 relaÃÃo), Grupo Teste, receberam por gavagem 1,2g da soluÃÃo correspondente a cada grupo por kg/dia durante quatro dias antes e trÃs dias apÃs a exodontia do primeiro molar inferior esquerdo. Foi realizada a avaliaÃÃo do edema gerado pelo procedimento cirÃrgico e coletada a mucosa perialveolar ao sÃtio da extraÃÃo dental e o prÃprio alvÃolo dental para anÃlises laboratoriais: mieloperoxidase, contagem de osteoclastos, expressÃo do TNF-α e IL-1β, glutationa (GSH) e substÃncias reativas ao Ãcido tiobarbitÃrico (TBARS). O Mix Teste induziu uma diminuiÃÃo significante na atividade da mieloperoxidase,no edema pÃs operatÃrio, na contagem de osteoclastos, na GSH plasmÃtica e do tecido, nas concentraÃÃes plasmÃticas e do tecido de TBARS, na expressÃo do TNF-α, mas nÃo mostrou diferenÃa significante na expressÃo de IL-1β no terceiro dia pÃs-operatÃrio. A administraÃÃo por gavagem do Mix Teste demonstrou uma reduÃÃo da resposta inflamatÃria e oxidante, atuando como anti-inflamatÃrio e antioxidante, apÃs exodontia em ratos
Groß, Daniel Verfasser], Carl-Walter [Gutachter] [Kohlmann, and Schwerdtfeger [Gutachter] Andreas. "In the Maze of Self-Control and Self-Regulation: Taking into Account Self-Ratings, Executive Functions, Heart Rate Variability, and Action-State Orientation / Daniel Groß ; Gutachter: Kohlmann Carl-Walter, Schwerdtfeger Andreas." Schwäbisch Gmünd : Pädagogische Hochschule Schwäbisch Gmünd, 2021. http://d-nb.info/1227839790/34.
Повний текст джерелаAbdou, Imen. "Les contradictions de la norme dans la maîtrise des risques bancaires : résultats d'une recherche-action conduite en position de praticien réflexif dans une banque régionale." Thesis, Paris, CNAM, 2018. http://www.theses.fr/2018CNAM1210.
Повний текст джерелаThe recent global financial crises that have almost jeopardized the world economy and shaken the global economic and financial systems have forced political authorities and institutions to strengthen their current laws and regulations to help safeguard against any future crises. In this context, risk control, transparency and visibility of information have become the foundations which standards seek to put in order to keep future crises at a distance. This thesis aims to describe the impact of the multiplicity of norms in the banking sector which can result in constraints, contradictions and significant costs for the bank. The purpose of this work is to present the mechanisms put in place by the banking establishment to meet the current regulatory requirements as well as analyze the consequences, coherences and stakes of the standards on risk management and on the internal organization of the establishment. The results underline the interest of the integral management of norms in the financial sector. The research results show that the performance of a retail bank will depend directly on its ability to anticipate and manage the various sets of standards it faces. The management of the "standard" is now becoming a major topic in the banking sector as well as risk management. Both are intrinsically linked.The foundation of this work is based on a four-year longitudinal case study built from action research at a retail bank. This approach is based on semi-structured interviews, content analysis of internal documents, meetings ... The study has mobilized control and risk theory as well as “tetranormalization” theory in order to analyze the management of norms in banking institutions
Barbudo, João Luís Lopes. "Regulação Bancária: Relação entre Rácios de Solvabilidade e Carteiras de Activos." Master's thesis, Instituto Superior de Economia e Gestão, 2011. http://hdl.handle.net/10400.5/4550.
Повний текст джерелаOs rácios de solvabilidade representam uma das vertentes mais importantes da regulação bancária, permitindo às instituições financeiras transparecer credibilidade. Neste sentido, os bancos quando são obrigados a aumentar os rácios de solvabilidade, não só para cumprirem com o estipulado nos Acordos de Basileia, mas também para passarem nos testes de stress, podem-no fazer por duas vias. O primeiro caminho passa pelo aumento do rácio através de um aumento do seu numerador, ou seja, através de um aumento de capital. A segunda via passa pela diminuição do denominador do rácio, através da diminuição da ponderação do risco nos activos. Com efeito, o objectivo deste trabalho é analisar esta segunda via, onde se testa se os rácios de solvabilidade dos bancos portugueses influenciam a escolha da carteira de activos. É possível concluir que: (i) os bancos com pouca capacidade de capital tendem a alterar a sua carteira de activos; (ii) os bancos preferem diminuir os activos com maior ponderação de risco, nomeadamente os empréstimos concedidos.
The capital ratios represent one of the most important aspects of banking regulation, allowing financial institutions to look through credibility. In this sense, when banks are forced to increase capital ratios, not only to comply with the agreements stipulated in Basel, but also to pass the stress tests, can make it in two ways. The first way, easier, through the increase in the ratio by increasing your numerator, in other words, through a capital increase. The second way is by reducing the denominator of the ratio, by decreasing the risk weight assets. Indeed, the purpose of this study is to analyze this second way, which tests whether the capital ratios of Portuguese banks influence the choice of asset portfolio. It is possible to conclude that: (i) banks with low capital capacity tend to change their asset portfolio; (ii) banks prefer to reduce the risk weighted assets, including loans.
Lindgren, Jessica. "Extern granskning av gröna obligationer : Huruvida regulatoriska förändringar vad gäller betygsättning av gröna obligationer kan gynna marknaden för gröna obligationer." Thesis, Linköpings universitet, Affärsrätt, 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:liu:diva-175188.
Повний текст джерелаThrough the management of financial resources, green bonds have received an important role in the development towards an environmentally sustainable society. External review of green bonds is today subject to voluntary market standards, of which GBP is the most common. In addition, the EU has recently presented its own voluntary standard, which includes supervision. Better access to climate-related information and clear and harmonised definitions of green activities are prerequisites for investors to move capital more efficiently to environmentally sustainable businesses to support the transition to a less fossil-based economy. With this paper it is shown that the current rating, despite different assessment methods, should be relatively reliable, but that there is room to wish for higher comparability and thus increased investor confidence. Clearer market standards can be an important aspect in increasing the reliability of ratings as the market for green bonds expands. The analysis shows that legislation that leads to an increased number of published reviews through green ratings should promote transparency, while the risk of rumors in the event of conflicts of interest should imply reluctance to make incorrect assessments. At the same time, excessive regulation may limit the opportunities for innovation, development and expansion of the market as a whole. Thus, it should be in the interest of the legislator not to introduce a regulation which is too strict, as the risk of not being able to achieve the desired financing of the climate goals then arises. As green bonds are an international phenomenon, all countries need to work together towards common standards in order to achieve the purpose of the climate goals. In the event that mandatory regulation is to be introduced, it should at least be at EU level. For market balance between the market participants as well as comparability between the bonds, it is important that the regulation is not perceived as unclear. In addition, regulation must be general and flexible enough to meet technological developments and new market conditions without the process becoming too lengthy. As long as the goal is to have a European capital market where market participants can provide financial services nationwide, financial supervision that does not stop at national borders is required. In the long run, ESMA should be the most appropriate authority to oversee all examiners of green bonds operating in the European market. This requires increased regulation that gives ESMA increased authority, as well as increased resources in order to be able to carry out the supervisory work effectively.
KANTHA, SAMY MADHAN KUMAR. "FIELD TEST AND ANALYSIS OF TWO PRESTRESSED CONCRETE BRIDGES AFTER DECK REPLACEMENT WITH FRP PANELS." University of Cincinnati / OhioLINK, 2007. http://rave.ohiolink.edu/etdc/view?acc_num=ucin1187271654.
Повний текст джерелаBergeron, Marc-André. "Les données numériques pour la prévision des rendements boursiers : applications de l’outil Google Trends." Master's thesis, Université Laval, 2020. http://hdl.handle.net/20.500.11794/66987.
Повний текст джерелаBOFFELLI, Simona. "Comovements in European government bond spreads: jumps, cojumps, macrofactors and correlations." Doctoral thesis, Università degli studi di Bergamo, 2014. http://hdl.handle.net/10446/30383.
Повний текст джерелаNGuema, Ondo James. "Les rendements boursiers et l'importance des facteurs de risque macroéconomiques canadiens." Master's thesis, Université Laval, 2015. http://hdl.handle.net/20.500.11794/26220.
Повний текст джерелаOgonowski, Martin. "Studies on Baltic Sea mysids." Doctoral thesis, Stockholms universitet, Systemekologiska institutionen, 2012. http://urn.kb.se/resolve?urn=urn:nbn:se:su:diva-75236.
Повний текст джерелаAt the time of doctoral defence the following papers were unpublished and had a status as follows: Paper 2: Accepted; Paper 3: Submitted; Paper 4: Accepted
Dahamani, Sabani. "Trilemma analysis in a P&C insurance company (assets & liabilities, equity and risk)." Master's thesis, Instituto Superior de Economia e Gestão, 2016. http://hdl.handle.net/10400.5/12809.
Повний текст джерелаEste projeto constitui uma componente de uma análise mais vasta e muito relevante no âmbito do estudo de uma companhia de seguros Não Vida, relativamente à situação financeira, gestão de ativos e passivos, bem como aos possíveis riscos no âmbito do regime prudencial Solvência II. Para além destes pontos, são ainda relevantes as implicações deste novo regime nos interesses dos principais stakeholders. Tendo em conta as informações disponíveis, trata-se do primeiro projeto que faz uso de um modelo Dynamic Financial Analysis (DFA) para o cálculo do Requisito de Capital de Solvência (SCR) baseado na fórmula padrão, definida pela European Insurance and Occupational Pensions Authority (EIOPA). A ideia fundamental neste trabalho é estabelecer para companhias do setor Não Vida as indicações sobre a utilização de modelos DFA numa análise integrada, tendo em conta a avaliação de Ativos e Passivos, Capital Próprio, Risco, assim como as estimativas atuariais, segundo o regime Solvência II. O propósito fundamental deste projeto, através da utilização de uma ferramenta como o DFA, centra-se em estabelecer uma metodologia que permita um compromisso entre a gestão financeira de uma companhia de seguros Não Vida (por exemplo, rendimentos, resultados, dividendos, etc), a gestão dos ativos e passivos da companhia (assegurando que os passivos da companhia estão devidamente financiados por um portfolio de ativos), e o impacto desta gestão no SCR da companhia, em linha com as orientações de Solvência II. Para responder à necessidade de elaborar projeções financeiras e integrar as diferentes perspetivas, foi proposto um modelo DFA.
This project forms part of a wider and vibrant conversation pertaining to the analysis of a Property and Casualty (P&C) insurance company´s finances, assets & liabilities, and the possible risks in the company in relation to the legislative parameters of the Solvency II Regime, and the wider implication of this for the core stakeholders of interest. To the best of my knowledge, it is the first project that deploys the use of a Dynamic Financial Analysis (DFA) model for the calculations of the Solvency Capital Requirement (SCR) based on the SCR standard given by European Insurance and Occupational Pensions Authority (EIOPA) The fundamental idea here is to provide perspectives into how the use of DFA models could be integrated into the valuation of Assets & Liabilities, Equity and Risk into providing empirical actuarial credence to companies whose business concerns spins around property and casualty, under the legal framework Solvency II Regime, under European Union (EU) and EIOPA guidelines. The main purpose of this thesis is to find an equilibrium for managing a P&C insurance company's finances (for example, earnings, returns, dividends, etc.) under a regime very demanding of capital, management of the company's assets and liabilities (ensuring that the company's liabilities are properly funded by a portfolio of assets), and the impact of these managements on the SCR of the company in line with Solvency II directives. In order to properly manage and make financial projections of the company, a DFA model was thus proposed.
N/A
Au, Manix. "Automatic State Construction using Decision Trees for Reinforcement Learning Agents." Thesis, Queensland University of Technology, 2005. https://eprints.qut.edu.au/15965/1/Manix_Au_Thesis.pdf.
Повний текст джерелаAu, Manix. "Automatic State Construction using Decision Trees for Reinforcement Learning Agents." Queensland University of Technology, 2005. http://eprints.qut.edu.au/15965/.
Повний текст джерелаAngulo, Sandoval Juan Pablo, and Oliveros Diego Alonso Hurtado. "La efectividad de los programas de beneficios de la categoría de supermercados en el nivel de recompra en jóvenes entre 20 y 30 años en Lima Metropolitana." Bachelor's thesis, Universidad Peruana de Ciencias Aplicadas (UPC), 2020. http://hdl.handle.net/10757/653527.
Повний текст джерелаIn the face of an increasingly competitive market where differentiation in terms of the perceived value of the good or service is limited, it was considered relevant to assess how the individual benefit program helps supermarkets position themselves as the first choice of purchase and repurchase. The benefit program or loyalty program is a set of actions that generate a benefit for the user for the purpose of generally changing the desired customer behavior and gathering the data for future actions, these can be discounts, coupons, mileage and redemption points. Throughout our research we identified that there were two types of benefit programs. The first is the coalition program, which provides a range of reward benefits associated with brands in other industries. The second is the individual benefit program, which provides a range of reward benefits associated with the host brand's products and services. For the purpose of the research, the supermarket category was chosen because it is a business model that offers all types of products and is not affected by the economic situation. Regarding the type of program, the application of the individual benefit program was considered relevant, since in our country supermarkets only apply this type of program according to their sales and positioning objectives.
Trabajo de investigación
Silva, Sally Andria Vieira da. "Sobre o número máximo de retas em superfícies de grau d em P3." Universidade Federal da Paraíba, 2016. http://tede.biblioteca.ufpb.br:8080/handle/tede/9272.
Повний текст джерелаMade available in DSpace on 2017-08-16T14:45:10Z (GMT). No. of bitstreams: 1 arquivototal.pdf: 923276 bytes, checksum: 684d210a074aefcedef691723f8d04e0 (MD5) Previous issue date: 2016-03-18
Coordenação de Aperfeiçoamento de Pessoal de Nível Superior - CAPES
It is well-known that planes and quadric surfaces in the projective space contain in - nitely many lines. For smooth cubic surface Cayley and Salmon, 1847, (and Clebsch later) proved that it has exactly 27 lines. For degree 4, in 1943 Segre proved that the maximum number of lines contained in a smooth quartic surface is 64. For surfaces of degree greater than 4 this number is unknown. In this work, we are going to explore what is the maximum number of lines that a smooth complex surface of degree d of the family Fd ; may contain. Thus, we obtain a lower bound to the maximum number of lines that non singular surfaces of degree d in P3 may contain. We emphasize that the determination of this numbers is based on the Klein's classi cation theorem of nitte subgroups of Aut(P1) and the study of C; the subgroup of Aut(P1) whose elements leaves invariant the nite subset C of P1:
Sabe-se que planos e superf cies qu adricas no espa co projetivo cont em in nitas retas. No caso de uma superf cie c ubica n~ao singular Cayley e Salmon, em 1847, (e Clebsch, mais tarde) provaram que ela cont em exatamente 27 retas. No caso de grau 4, em 1943 Segre provou que o n umero m aximo de retas contidas numa superf cie qu artica n~ao singular e 64. Para superf cies de grau maior que 4 esse n umero e desconhecido. Neste trabalho vamos explorar qual e a quantidade m axima de retas que uma superf cie complexa n~ao singular de grau d na fam lia Fd ; pode conter. Assim obtemos uma cota inferior para o n umero m aximo de retas que as superf cies n~ao singulares de grau d em P3 podem conter. Salientamos que a determina c~ao destes n umeros tem como base o Teorema de Classi ca cao de Klein dos sugbrupos nitos de Aut(P1) e o estudo dos subgrupos C de Aut(P1) que deixam invariante um subconjunto nito C de P1:
Mogha, Vipin. "Three Essays on the Influence of National Culture on Corporate Finance." Thesis, Université Clermont Auvergne (2017-2020), 2020. http://www.theses.fr/2020CLFAD004.
Повний текст джерелаThe premises of this doctoral dissertation is investigating the role played by national culture on corporate financial choices and outcomes. The investigation is done through three empirical essays. The first essay analyzes the influence of national culture on firms’ capital structure choices. The second essay is analyzing the role played by national culture on firms extending more or less trade credit from pre-to-post the mortgage financial crisis. The third essay analyzes the influence of national culture on firms’ market value. Furthermore, a chapter of theoretical conceptualization is done to fit these empirical essays work into a mathematical topology framework. This doctoral dissertation work finds itself at the junction of three broad sets of research bodies. These are the literature around the New Institutional Economics (NIE), the finance literature, and the social economics literature. We glue these literature sets together through the general mathematical topology framework to structure our culture and finance research. Chapter 2 introduces these literature sets and describes the foundations of our three essays.Chapter 3 (essay one) presents the analysis of the links between national culture and firms financing choices leading to their capital structure. Chapter 4 (essay two) presents the analysis of culture’s influence on firm’s choice of extending higher or lower trade credit from pre-to-post the 2008 mortgage financial crisis. Chapter 5 (essay three) presents how firms’ financial value maybe influenced national cultural values.National culture is defined as the firm’s country-of-origin cultural values. We represent it by four of Hofstede (1980, 2001) six cultural dimensions of individualism, masculinity, uncertainty avoidance, and long-term orientation. Hofstede national culture dimensions are largely applied in the growing culture and finance literature, thus providing strong empirically validity. Our choice of Hofstede dimensions are described in chapter 2.We apply these cultural dimensions in our three essays. Our empirical analysis is build following the New Institutional Economics framework (Williamson, 2000). This framework is the key structure around which we are able to build the theoretical bodies of our three essays. NIE has popularized the understanding and acceptance of the non-financial constraints –in macro-and-micro economics– of the social embeddedness level of culture. We empirically test the hypotheses in our three essays following Williamson NIE framework. The empirical tests are done on samples of listed firms from over 30 countries. These tests provide a broad applicability of our results to firms in the globalized economy. The results of our three essays meet our hypotheses expectations of culture’s influence on firms’ financial choices and outcomes.The results provide all stakeholders a lens to view and analyze corporate financial choices and outcomes through firms’ national culture values. Indeed, the financial numbers one may read may have different meaning depending on firm’s country-of-origin cultural values. This understanding would have multiple implications for investors, creditors, managers, shareholders, and policy makers. It may help them in their investing, lending, financing, returns expectations, and policy design to optimize their profits
Diabate, Alassane. "Liquidity risk and fair value accounting : implications for banks capital structure, lending and stability." Thesis, Limoges, 2020. http://www.theses.fr/2020LIMO0002.
Повний текст джерелаThis thesis comprises three empirical essays based on U.S. commercial banks’ data. It aims to highlight the implications of liquidity risk and fair value accounting on banks’ capital structure, lending and their stability. Thus, the first chapter investigates if episodes of liquidity squeeze on the market affect banks’ capital structure adjustment. The findings reveal that only small banks react to such episodes by increasing their capital ratio. To do so, they reduce the share of loans in total assets, decrease the share of assets with higher risk weights and they downsize their overall balance sheets. These results suggest that liquidity requirements might be redundant for small banks but appear to be necessary for large banks. The second chapter analyses whether the impact of an unexpected flow of deposits on loan origination depends upon the degree of banks’ off-balance sheet funding liquidity risk exposure. The results show that only small banks increase their lending when they are subject to unexpected deposit inflows. The increase in lending depends on how much they are exposed to funding liquidity risk stemming from their off-balance sheets. Small banks more exposed to such funding liquidity risk tend to extend fewer new loans. These results indicate that unexpected deposit inflows might not as easily be fueled again to borrowers. The third chapter examines the effect of banks’ holdings of Level 2 and Level 3 fair value assets on risk-taking and insolvency risk. The results reveal that banks with larger proportions of Level 2 and Level 3 fair value assets take on higher risk and are more exposed to insolvency risk. These findings suggest that the banking system may become more fragile when investors perceive reliability concerns in banks’ assets
Hessou, Hélyoth. "Essays on financial institutions capital and liquidity regulation." Doctoral thesis, Université Laval, 2020. http://hdl.handle.net/20.500.11794/67776.
Повний текст джерелаThe review of the articles included in this thesis can be summarized as follows: The first essay examines the behavior of regulatory capital adjustment in a multiple capital requirement regime such as the Basel III one. This essay is motivated by the fact that the existing bank capital adjustment models are designed to address adjustment towards a single capital ratio. Our findings are numerous. Firstly, it appears that the joint regulation of two capital ratios (adjusted and unadjusted for risk) is assimilated to the regulation of a single capital ratio (not adjusted to risk), whose limit is assimilated to the value of a call option written on (regulatory) asset risk ratio. An analysis of both the Canadian and US experiences in the joint capital regulation provides further justification for the relative resilience of Canadian banks (in comparison with their US counterparts) during the last subprime crisis of late 2007. The second essay is devoted to the analysis of the counter-cyclical buffer standard introduced under Basel III. This standard aims to smooth undesirable cyclical fluctuations in bank capital as this negatively affect the granting of credit by banks, especially in times of crisis. This work aims to quantify the required level of cushion by taking into account the cyclical components of bank capital. The implications of the new liquidity standards are also discussed. The third essay analyzes the appropriateness of the new counter-cyclical capital standards of Basel III to Canadian credit unions regulation. Based on data extracted from Canadian financial cooperatives balance sheets over the period between 1996 and 2014, this essay shows that unlike banking institutions, credit union capital is already countercyclical, and therefore the introduction of the countercyclical buffer would not alter their intermediation activities. However, the analysis also reveals that the capital cushion of under-capitalized credit unions is pro-cyclical, and therefore these credit unions need close monitoring from regulators regarding their adjustment behaviors following countercyclical measures’ adoption. v The fourth essay is an extension of the previous one in that it analyzes the effect of regulatory capital on lending by Canadian credit unions. Our findings suggest that the growth in the Canadian credit unions loan portfolio is positively associated with the level of capitalization. In contrast, we uncover a negative relation between change in credit union capital and the growth of their lending portfolio. This finding suggests that credit unions should be encouraged to hold adequate levels of capital. This can be achieved through the implementation of conservative and countercyclical capital requirements as advocated for banks.
Carlos, Gustavo Barreto Bernardo. "Asset portfolio of an health insurer : the multicare case." Master's thesis, Instituto Superior de Economia e Gestão, 2014. http://hdl.handle.net/10400.5/7686.
Повний текст джерелаA Indústria Seguradora tem várias particularidades, mas eventualmente uma das mais importantes é a incerteza relativamente aos cash flows futuros, devido à natureza imprevisível de catástrofes naturais ou doenças, no caso dos seguros de saúde. Todavia, as seguradoras tentam gerir o risco, entre outras formas, utilizando técnicas de Gestão de Activos-Passivos. De qualquer modo, devido à dificuldade em prever com exactidão os passivos futuros, ao alinhar as maturidades de activos e passivos pode criar uma desarticulação entre ambos, caso acontecimentos inesperados ocorram e os custos com sinistros sejam bastante maiores do que o estimado. Como tal, este estudo visa encontrar uma abordagem alternativa à escolha da carteira de investimentos: ao estabelecer um floor razoável para o rácio de financiamento, procura rentabilizar-se os fundos excedentários de forma a atingir melhores rentabilidades que podem ser úteis como almofadas de capital em períodos com maiores taxas de sinistralidade, ao mesmo tempo que se procura encontrar um equilíbrio nas proporções entre classes de activos, de forma a não penalizar os requisitos de capital da seguradora, ao abrigo do estabelecido na Directiva Solvência II. Para este fim foi rastreado o índice EUROSTOXX 600, o benchmark do mercado accionista utilizado neste estudo, aplicando critérios pré-estabelecidos a partir dos quais foi possível chegar a uma carteira de acções, utilizando os pressupostos do Modelo de Índice Único (MIU). Por fim, tanto o portfolio original como o que foi calculado, foram avaliados em função dos respectivos rácios de Sortino.
The Insurance Industry has many particularities, but probably one of the most important is the uncertainty regarding future cash flows, due to the unpredictability nature of future catastrophes or illnesses, in the case of health insurance. Nonetheless, insurers try to manage risk, among others, by using Asset-Liability Management (ALM) techniques, which rely mainly on future cash flow matching between assets and liabilities, according to the company's expected future responsibilities. However, as liabilities are difficult to predict in an accurate way, indexing assets to the liabilities' maturities can create a mismatch should unforeseen events occur and claims costs develop worse than expected. As such, this study aims an alternative approach to portfolio selection: by establishing a reasonable floor value to the funding ratio, it tries to monetize the surplus funds to achieve greater returns which can be used as buffers in periods with higher loss ratios, while attempting to find an equilibrium asset mix not to penalize the company?s capital requirements under the Solvency II Directive. For this purpose, the EUROSTOXX 600, the stock benchmark used in this study, was screened using specified criteria and from which a portfolio of stocks was chosen under the Single Index Model (SIM) assumptions. Lastly, the current and the new portfolio were measured against each other using the respective Sortino ratios.
Louro, Pedro Lobato Pereira Castanheiro. "Liquidity rules in Basel III : a test on the largest portuguese banks." Master's thesis, Instituto Superior de Economia e Gestão, 2014. http://hdl.handle.net/10400.5/7677.
Повний текст джерелаO principal objectivo da presente dissertação foi uma análise preliminar sobre os novos regulamentos provenientes do Basileia III, nomeadamente, uma análise inicial ao Liquidity Coverage Ratio e a sua aplicação prática assim como os seus benefícios na gestão do risco de liquidez nas instituições financeiras. Neste sentido, foram seleccionadas as 5 instituições financeiras, à data de 31 de Dezembro de 2012, que representavam a amostra mais relevante em termos de actividade no sector Português da banca comercial ("mercado bancário" Português). Recorrendo ao Liquidity Coverage Ratio obtido, foi possível observar que o "mercado bancário" português apresentou, inicialmente, um Liquidity Coverage Ratio acima do requerido pelo Basileia III (60%). O Liquidity Coverage Ratio obtido no "mercado bancário" Português foi de 102% em 2013. Num cenário simulado de stress, pode ser verificado que, o mínimo que a carteira de activos líquidos de alta qualidade no "mercado bancário" pode cair é de aproximadamente 59% do seu valor, à data de 31 de Dezembro de 2013, e ainda assim existem condições para cumprir com o mínimo requerido pelo Basileia III (60%). De acordo com todas as análises realizadas, foi possível concluir que o "mercado bancário" Português, tem capacidade para suportar, eficientemente, qualquer cenário de stress financeiro. Desta forma, o mercado detém uma quantidade suficiente de activos líquidos de alta qualidade, que podem fácil e rapidamente ser convertidos em dinheiro (nos sector privados) que suportem uma volatilidade de mercado significativa ou cenários de stress que durem mais de 30 dias.
The main objective of the present dissertation was a preliminary analysis of the new regulatory package of Basel III, namely, a first analysis of the Liquidity Coverage Ratio computation, its practical application and its benefits for liquidity risk management in financial institutions. For this purposes, it was selected a sample of 5 Portuguese financial institutions which, as at 31 December 2012, represented the most relevant financial institutions with retail banking activities (Portuguese "banking market"). Considering the average Liquidity Coverage Ratio obtained it was possible to observe that the Portuguese "banking market" started to present a Liquidity Coverage Ratio clearly above the Basel III minimum requirement (60%). The Liquidity Coverage Ratio obtained by the Portuguese "banking market" insofar was 102% for 2013. In a simulated stress scenario, we were able to verify that the minimum which Portuguese "banking market" high quality liquidity assets stock could drop was approximately 59% of its value, at 31st of December 2013, and still maintain the conditions to fulfil the Basel III minimum requirement (60%). According to all the analysis performed, it was possible to conclude that the Portuguese "banking market" has the ability to efficiently sustain, any financial stress scenario. In this sense, holds sufficient stock of high quality liquidity assets that could be easily and immediately converted into cash (in private markets) in order to sustain a significant market volatility or stress scenarios lasting over 30 calendar days.
Sawadogo, Pegdéwendé Nestor. "Fiscal policy and financing for development in developing countries." Thesis, Université Clermont Auvergne (2017-2020), 2020. http://www.theses.fr/2020CLFAD007.
Повний текст джерелаThe central question of this thesis is how fiscal policy could be used for development finance purposes. Indeed, we identify and investigate pathways through which developing states can mobilize resources to improve sustainable development. For this purpose, we conduct policy-oriented researches (using suitable statistical and econometrical tools) and provide advices for developing countries. The first part of the dissertation addresses the issue of external resources mobilization in developing countries (Chapter 1 and Chapter 2). In Chapter 1, we investigate the effects of public expenditures on sovereign bond spreads in emerging market countries. We show that developing countries could have a better access to international financial market by supporting public investment and reducing current spending. Specifically, spending on human capital (education and health) and other public infrastructures significantly reduce bond spreads. They should also improve the quality of governance since financial markets award well-governed countries with better borrowing conditions. We examine, in Chapter 2, the strength of fiscal rules in terms of improving financial markets access for developing countries. We find that the adoption of fiscal rules reduces sovereign bond spreads and consequently improve financial market access. Indeed, this result is explained by the credibility of fiscal policy channel: more credible governments are rewarded in the international financial markets with low sovereign bond spreads and high sovereign debt ratings. Our findings confirm that the adoption and sound implementation of fiscal rules is an instrument for policy makers to improve developing countries’ financial market access. The second part of the dissertation focuses on what developing countries could do to improve internal resources mobilization (Chapter 3 and Chapter 4). As a matter of fact, we explore the relationship between fiscal rules and inequality (Chapter 3) and find that fiscal rules adoption contributes to reduce inequality in developing countries. The policy implication is that developing countries could finance their development in a sustainable way (via the reduction of inequalities) by adopting fiscal rules. Moreover, we assess the effects of combating illicit financial flows on domestic tax revenue mobilization in developing countries (Chapter 4). We highlight that countries which cooperate with international standards for anti-money laundering and combating the financing of terrorism (AML/CFT) are more able to mobilize tax revenue than countries which do not cooperate. Consequently, developing countries could mobilize more domestic tax revenue by implementing policies to curtail illicit financial flows. They should establish sound institutions
Petersson, Frida. "Sustainable investments : Transparency regulation as a tool to influence investors to choose sustainable investment funds." Thesis, Linköpings universitet, Filosofiska fakulteten, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:liu:diva-156659.
Повний текст джерелаNyh, Johan. "From Snow White to Frozen : An evaluation of popular gender representation indicators applied to Disney’s princess films." Thesis, Karlstads universitet, Institutionen för geografi, medier och kommunikation, 2015. http://urn.kb.se/resolve?urn=urn:nbn:se:kau:diva-36877.
Повний текст джерелаBetyg VG (skala IG-VG)
"Management Earnings Guidance and Future Credit Rating Agency Actions." Doctoral diss., 2015. http://hdl.handle.net/2286/R.I.29731.
Повний текст джерелаDissertation/Thesis
Doctoral Dissertation Accountancy 2015
Ramirez, Alfredo. "Principals' actions in the performance appraisal system for teachers in successful schools in Texas." Thesis, 2005. http://repositories.lib.utexas.edu/bitstream/handle/2152/1712/ramirezjra63480.pdf.
Повний текст джерелаFerro, Ana Alexandra Velez Mão de. "Credit rating changes and their impact on equity prices : how much should Banks care?" Master's thesis, 2013. http://hdl.handle.net/10400.14/16845.
Повний текст джерелаCette étude concerne l’effet que les changements de notes donnés par S&P ont dans un échantillon de 48 banques et ses souverains (10 pays), entre 2008 et 2012. On explore trois effets: d'abord les changements de notes d'une banque ont dans le prix de son action; les abaissements de note souveraine ont dans les prix des actions des banques nationales et étrangères; troisièmement les abaissements de note d’une banque ont dans des autres banques qui n’ont pas eu abaissés. Les résultats sont rarement significatifs: une différence comparativement à d'autres études qui peut découler de l’utilisation d’une statistique de test robuste en corrélation entre les actions et la variance résultants de l’évènement, ou de différences entre les périodes en analyse.
A presente dissertação investiga a existência de retornos anormais numa amostra de 48 bancos como resposta a mudanças de notação (rating) feitas pela S&P aos bancos em causa ou às respectivas dívidas nacionais – num total de 10 países – entre 2008 e 2012. Exploramos três tipos de efeitos: reacção no preço da acção de um banco cuja dívida tenha sofrido um corte de notação; reacção no preço de acção de bancos no próprio país e no estrangeiro em resposta a uma descida na notação de dívida soberana; reacção no preço de acção de bancos cujo rating não tenha sido alterado, em resposta a alterações de notação noutros bancos. Na maioria dos casos, estes efeitos não são significativos: uma diferença comparativamente a estudos nesta área que pode ser explicada pela utilização de uma metodologia e estatística de teste robustas a correlação entre acções e a aumentos de volatilidade causados pelo próprio evento, ou pela utilização de um período de análise diferente.
Yang, Chia-Ching, and 楊家慶. "Assessing students' science writing performance with the rating scale: An action research study." Thesis, 2006. http://ndltd.ncl.edu.tw/handle/29902148057435306539.
Повний текст джерела國立臺中教育大學
自然科學教育學系碩士班
94
The action research describes the process that how to assess science writing performance with the rating scale in elementary school. The researcher also analyzes the difficulties/problems in the process and tries to find the solutions. The growth and achievement of researcher are discussed in the following paragraph. The assessment of science writing was practiced in two six-grade classes in elementary school. The researcher is just the teacher. After the honest self-examination, the assessment of students' performance, the interscorer reliability and the interviews and the findings of the action research are described as the following: It's a practicable way to use rating scales to exam the science writing cooperating with the teaching plan. Design the rating scales with special observations of students' writing. The feedback can be the reference for teaching decision and also improve the quality of students' writing performance and communicative ability. Try to get the correct judgment and objective results. The assessment of science writing should be designed to correspond with the teaching goals so as to reflect the real situation of students' learning. Teachers should let the students understand the methods, standard and aims (goals) of the assessment before the examinations. They should explain the standard of the assessment clearly and create the learning environment with no pressure. It's the right goal to make students write down what they think in their minds. Students are the real essential part of learning. They should realize the representative meanings of the assessment results and keep their learning impetus. According the preceding findings, the researcher makes several suggestions as the following: 1.Science writing is hard to get the immediate results, and the students should practice their writing skills more. 2.The standard of the assessment about science writing should be understood clearly by students. 3.To encourage teachers collect their teaching portfolio.
Saravanja, Marko. "Integrated performance management systems and motivation in the South African public sector." Thesis, 2009. http://etd.uwc.ac.za/index.php?module=etd&action=viewtitle&id=gen8Srv25Nme4_6159_1298279759.
Повний текст джерела
The study recommends that performance management has to be approached from an integrated perspective. The process of the design of performance management must include a thorough consultation with major stakeholders. The implementation of the system has to be supported and driven by top leadership and management. The change management process should be supported by a proactive communication strategy and it should be managed strategically and by competent staff. A reward system that distinguishes high from mediocre performance should be put in place. Programmes must be implemented to ensure high levels of staff motivation. Monitoring and evaluation mechanisms must be put in place to ensure implementation of sustainable performance management systems. These recommendations led to the design of an integrated performance management system. The study concludes that integrated performance management, as a multidisciplinary methodology related to organisational strategy, structure, culture, systems and processes, should be regarded as a critical tool for improving motivation and performance of individuals, teams, departments and the public service as a whole.
Nyikahadzoyi, Maroni Runesu. "Prospective Zimbabwean "A" level mathematics teachers' knowledge of the concept of a function." Thesis, 2006. http://etd.uwc.ac.za/index.php?module=etd&action=viewtitle&id=gen8Srv25Nme4_6869_1182811715.
Повний текст джерелаThe purpose of the study was to investigate prospective &lsquo
A&rsquo
level mathematics teachers&rsquo
knowledge of the concept of a function. The study was a case study of six prospective Zimbabwean teachers who were majoring in mathematics with the intention of completing a programme leading to certification as secondary mathematics teachers. At the time of the study the six prospective teachers were in their final year of study. Prospective teachers&rsquo
knowledge of the concept of a function was assessed through task-based interviews and reflective interviews. These interviews, which were done over a period of three months, were structured to capture the prospective teachers&rsquo
subject matter knowledge and pedagogical content knowledge for teaching the concept of a function. The interviews were also meant to capture the prospective teachers&rsquo
underlining pedagogical reasons for their choices of the examples, representations and teaching approaches when planning to teach the concept.
As part of the study a theoretical framework for understanding prospective teachers&rsquo
knowledge of the concept of a function was developed. The framework, which was developed, was used as an analytical tool in analyzing prospective teachers knowledge of the concept of a function. The results of the study indicated that the prospective teachers had a process conception of a function although some of them had given a set-theoretic definition of a function in which a function is perceived as a mathematical object. They also confined the notion of a function to sets of real numbers. Functions defined on other mathematical objects (for example, the differential operator and the determinant function) were not considered as functions by five of the six prospective teachers.
WAN, LIU FANG, and 柳芳宛. "An action research of a sixth-grade teacher's practicing ratio and proportion teaching." Thesis, 2010. http://ndltd.ncl.edu.tw/handle/17892070686575447683.
Повний текст джерела國立新竹教育大學
數理教育研究所
99
This study demonstrated action research process of an elementary math teacher teaching “ratio and proportion” to the 6th graders. The study was mainly to present the problems the researcher met while practicing activities and the procedure of seeking strategies to solve problems. This action research took class A ,where the researcher herself was the teacher , as the research subject . All the teaching activities were designed according to National Math Curriculum Guideline, textbook teaching targets, students pretest and the discussion with teachers in a mathematical professional group. The references of strategies used in this research are as follow: literature review, students pretest, textbook analysis, students performance evaluation such as the observation of solving questions and students mathematics diary, as well as teacher’s log,and frequent discussions with other teachers in a mathematical professional group. The teaching strategies included the chosen of semantic structure of questions, the types of questions, the change of numbers and situations of questions. The study shows that 1)Students often ignored the context of questions while solving problems. 2)Students can develop their sense of ratio through practicing on compiling questions and class discussion 3)Teachers should help students build up sense of ratio by providing various contexts of questions. 4)Teachers should help students recognize two quantities has a relation of subtract and divide, that can be expressed as “a to b” or “a:b”. To help student understand better, using semantic structure of associated sets is a good tool. 5)The concept of ratio and proportion is better be built up in a multi-objects comparative context. Teachers should help students understand the relationship between antecedent (the first number) and consequent (the second number), the concept of the consequent should become 1 is suggested to teach in class. 6)In this study, there is only a change of one dimension (length), other identical dimension changes are suggested in further research.