Contemporary Issues in Finance Simon Grima, Frank Bezzina, Inna Romānova, Ramona Rupeika-Apoga / Robert Thornton
2016, 2016-11-09, Letnik:
98
eBook
Including studies on different topical issues in finance by the participants of the 8th international scientific conference "New Challenges of Economic and Business Development – 2016" this new work ...contains research from various European countries, specifically Germany, Italy, Latvia, Malta, and Poland. Chapters explore the impact of financial literacy on domestic economic activity in the Baltic States, the rapid rise of FinTech, which has changed the banking landscape, requiring more innovative solutions; Crowdfunding in the European Union, specifically examining the performance, development and perspectives; the case of Latvia to highlight the Profiles of SMEs as Borrowers, the factors that interfere with the availability of funding to the small and medium-sized companies, an analysis of Risk Parity Approach for Sovereign Fixed-Income Portfolios in Eurozone countries by looking at studies of preventive arrangements with creditors in Italy; and Mergers and Acquisitions by studying examples of best practices in Cross-Border acquisitions.
Geldpolitik und Nachhaltigkeit Hellwig, Martin
Wirtschaftsdienst (Hamburg),
05/2022, Letnik:
102, Številka:
5
Journal Article
Recenzirano
Odprti dostop
ECB President Christine Lagarde and others have suggested that climate change creates risks for price stability and for the viability of counterparties to central bank interventions and therefore ...monetary policy should contribute to fighting climate change. However, pursuit of this new objective may occassionally conflict with price stability, in which case the legal mandate as well as the underlying rationale for this mandate and for ECB independence call for prioritising price stability. However, monetary policy will have a sustainability problem of its own if the viability of the monetary system is threatened by financial and fiscal instability.
Zusammenfassung
Hintergrund
Wenn die Milch der eigenen Mutter nicht oder nicht ausreichend zur Verfügung steht, wird bei der Ernährung von Frühgeborenen und kranken Neugeborenen die Gabe von ...qualitätskontrollierter Spenderinnenmilch empfohlen. In diesem Kontext erfüllen Frauenmilchbanken eine wichtige Funktion, um sicherzustellen, dass Frühgeborene und kranke Neugeborene mit der für sie wertvollen Spenderinnenmilch versorgt werden können.
Ziel der Arbeit
Das Bewusstsein bezüglich der Vorteile der Ernährung mit Muttermilch soll gestärkt und den Kliniken sollen die ersten Schritte bei der Errichtung und der Organisation von Frauenmilchbanken erleichtert werden. Darüber hinaus dient das Positionspapier als Anregung für die Erstellung einer Leitlinie durch die nationalen Fachgesellschaften.
Material und Methoden
Fachexperten aus Deutschland, Österreich und der Schweiz (D-A-CH), die teilweise selbst Frauenmilchbanken betreuen, haben ihre Erfahrungen und ihr Wissen eingebracht und aktuelle Richtlinien aus verschiedenen europäischen Ländern verglichen. Basierend auf den gängigen Vorgehensweisen in den bestehenden Frauenmilchbanken wurden Empfehlungen zur Förderung von Frauenmilchbanken im Expertenbeirat abgestimmt, die auf der aktuellen wissenschaftlichen Datenlage aufbauen und die Umsetzbarkeit in den Alltag berücksichtigen.
Ergebnisse und Diskussion
Im D‑A-CH-Raum ist derzeit keine einheitliche Empfehlung, Leit- oder Richtlinie für die Errichtung und Organisation von Frauenmilchbanken vorhanden. Der Expertenbeirat fordert, dass der Aufbau von weiteren Frauenmilchbanken forciert wird, einheitliche Empfehlungen zu Errichtung und Organisation etabliert werden, mehr Mütter als Spenderinnen gewonnen werden und das öffentliche Gesundheitssystem der jeweiligen Länder dabei unterstützend einwirkt.
► Appropriate constraining the modeling data set leads to consistent LGD estimates. ► Separation of write-offs and recoveries increases predictive power in LGD forecasts. ► Consideration of the ...default status is required for consistent LGD forecasts. ► All theoretical results are empirically confirmed on the basis of 69,985 bank loans.
An accurate forecast of the parameter loss given default (LGD) of loans plays a crucial role for risk-based decision making by banks. We theoretically analyze problems arising when forecasting LGDs of bank loans that lead to inconsistent estimates and a low predictive power. We present several improvements for LGD estimates, considering length-biased sampling, different loan characteristics depending on the type of default end, and different information sets according to the default status. We empirically demonstrate the capability of our proposals based on a data set of 69,985 defaulted bank loans. Our results are not only important for banks, but also for regulators, because neglecting these issues leads to a significant underestimation of capital requirements.
Seed dormancy is assumed to be unimportant for population dynamics of temperate woody species, because seeds occur at low densities and are short lived in forest soils. However, low soil seed ...densities may result from low seed production, and even modest seed longevity can buffer against fluctuating seed production, potentially limiting density-dependent mortality and ensuring that seeds are available for germination when recruitment success is likely. To investigate whether seed banking affects woody seedling dynamics in the southern Appalachians, we monitored seed rain, seed bank, and seedling densities to (1) determine the prevalence of seed banking among southern Appalachian woody species, (2) quantify annual seed mortality rates for three seed-banking species using a Bayesian statistical approach, and (3) assess whether or not the ability to seed bank affects recruitment rates. We found that the seeds of eight woody taxa (Acer rubrum, Betula spp., Liriodendron tulipifera, Nyssa sylvatica, Robinia pseudoacacia, Rubus spp., Sassafras albidum, and Vitis sp.) remain viable in the soil for more than one year. Seeds of six taxa (Amelanchier spp., Acer pennsylvanicum, Carya spp., Quercus prinus, Quercus rubra, and Tsuga canadensis) were never found in the soil seed bank, despite high seed production and germination. For three species, a substantial proportion of seeds available for germination came from dispersal events two or more years in the past (Acer rubrum 12-37%, Betula spp. 59-73%, Liriodendron tulipifera 40-76%), even though annual seed mortality was high (Acer rubrum 70-98%, Betula spp. 21-81%, Liriodendron tulipifera 12-59%). In years when no seeds fall in local microsites (approximately one in five years), seed banks are the only source of seedling recruitment for these species. Comparing our results to those of previous studies led to valuable insights: first, that seeds of Acer rubrum and Betula spp. suffer high mortality while being incorporated into the seed bank; and second, that seed decay varies greatly over relatively small spatial scales (i.e., within a watershed). Taken together, these results demonstrate that seed banking may play a critical role during woody seedling recruitment in temperate forests.
Financial inclusion, defined as the proportion of individuals and firms that use financial services, has become a subject of considerable interest among policy makers, researchers, and other ...stakeholders. In recent years, some 50 countries have set formal targets and goals for financial inclusion. If not implemented properly, efforts to promote financial inclusion can lead to defaults and other negative effects. This Global Financial Development Report (GFDR) provides a careful review and synthesis of recent and ongoing research on financial inclusion, identifying which policies work and which do not, as well as areas where more evidence is still needed. Despite the growing interest, the views of policy makers and other financial sector practitioners on the policies that work best are widely split, underscoring the major gaps in knowledge about the effects of key policies on financial inclusion. This GFDR introduces new data and research and draws on available insights and experience to contribute to the policy discussion. The rest of the report consists of three chapters, covering, (1) the importance of financial inclusion, some key facts, and drivers of financial inclusion; (2) financial inclusion for individuals; and (3) financial inclusion among firms. Within these broader topic areas, the report focuses on policy-relevant issues on which new evidence can be provided. A statistical appendix consists of the following three parts: appendix A presents basic country-by-country data on financial system characteristics around the world; appendix B provides additional information on key aspects of financial inclusion around the world; and appendix C contains additional data on Islamic banking and financial inclusion in member countries of the Organization of Islamic Cooperation.
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