Did Glass-Steagall Increase the Cost of External Finance for Corporate Investment?: Evidence From Bank and Insurance Company Affiliations

1999 ◽  
Vol 59 (2) ◽  
pp. 372-396 ◽  
Author(s):  
Carlos D. Ramírez

The Glass-Steagall Act may have increased the cost for corporations of raising external funds for investment spending. Significant differences are found in the way financial institutions influenced corporate investment spending. Investment regressions for a sample of companies affiliated to financial institutions are estimated and compared to those for a control sample. Prior to Glass-Steagall, affiliated companies do not display any sensitivity between investment spending and internal measures of liquidity, whereas the control sample does.

2021 ◽  
Vol 16 (3) ◽  
pp. 405-446
Author(s):  
Carlos D. Ramirez ◽  
◽  
Yi Huang ◽  

We examine whether corporate corruption scrutiny affects corporate investment in China. A corruption news index (CNI) containing firm-specific measures of corruption scrutiny was developed by tracking all articles in the press about corruption for all firms trading on the Shanghai and Shenzhen stock exchanges between 2000 and 2016. We found that a standard deviation increase in CNI is associated with a modest and short-lived decline in investment, ranging from 2 to 10 percent, with a stronger effect among SOEs. We explore two channels that can explain the CNI-investment effect: (i) a shift in the cost of external finance and (ii) a rise in political uncertainty connected with corporate corruption scrutiny. Our results indicate that CNI lowers the cost of external finance, pointing to a beneficial aspect of corruption cleanup. However, the effect of CNI on investment is amplified in the presence of provincial political turnover, providing support for the political uncertainty channel. The results also indicate that the negative effect of CNI on investment has significantly declined since 2013, supporting the proposition that the long-term benefits of corruption cleanup outweigh the short-term costs associated with policy uncertainty.


Trust is critical in remote sensor systems to exchange the information from source to goal. The Dynamic Source Protocol computes the substitute way, if any hub neglects to exchange the information. The Dynamic Source Protocol does not have any worked in usefulness to figure a substitute way if the way has a vindictive hub. With the cost of an interloper recognition framework we can identify the vindictive hub and modify the information/parcel exchange way. Notwithstanding, gatecrasher location framework is extremely costly for remote sensor systems and there is no certification in identifying a malevolent hub. In the ebb and flow look into a trust-based approach is prescribed to limit the overheads of gatecrasher location framework and it likewise recognizes the anomalous conduct hubs. The proposed demonstrate utilizes the rehashed recreations to distinguish flawed hubs through the agreeable exertion in the sensor organize and additionally judges the trust of progressive hubs. Reenactments were exhibited for standardized result of parcel dropping, normal rebate result, and trust connection.


2017 ◽  
Vol 33 (4) ◽  
pp. 409-427 ◽  
Author(s):  
Anna P Durnová ◽  
Eva M Hejzlarová

In public policy scholarship on policy design, emotions are still treated as opposed to goals, and their presence is assumed to signal that things have gone wrong. We argue, however, that understanding how and for whom emotions matter is vital to the dynamics of policy designs because emotions are central to the capacity building of policy intermediaries and, with that, to the success of public policies. We examine the case of Czech single mothers in their role as intermediaries in ‘alimony policy’. Our interpretive survey provided single mothers an opportunity to express the way they experience the policy emotionally. The analysis reveals that the policy goal of the child’s well-being is produced at the cost of the mother’s emotional tensions and that policy designs defuse these emotional tensions, implicitly. These contradictory emotions expressed by mothers show us a gateway to problematising policy designs in a novel way, which reconsiders construing policy design as a technical, solution-oriented enterprise to one in which emotional tensions intervene in policy design and are essential for succeeding.


2021 ◽  
Vol 7 (18) ◽  
pp. 59-68
Author(s):  
Hassana Aliyu MOHAMMED ◽  
◽  
Abdurrahman ISIK ◽  
Paul Terhemba IOREMBER ◽  
◽  
...  

The study analyses the relationship between currency redenomination and financial sector transaction costs in Nigeria using a sample of 200 respondents from ten financial institutions. Applying the Chi-square test, the study reveals that high currency redenomination removes wasteful transactions removes user costs (difficulties arising from memorizing, calculating and carrying large sum of lowest denominations: coins and smaller notes). The results also show that currency redenomination influences inflationary pressure and currency liberalization in Nigeria. Based on the findings the study recommends the introduction of currency redenomination to facilitate the consumers' cash payment and reduce the cost incurred by producers and issuing authorities, and also make payment system more efficient and effective.


2020 ◽  
Vol 1 (1) ◽  
pp. 88-102
Author(s):  
Ahmad Maulidizen

ABSTRACTIslamic banking in Indonesia has experienced significant growth, including assets, financing providedand the number of customers. Murābaḥah is the sale and purchase of goods at the original price with theagreed-upon profit. In murābaḥah the seller must tell the cost of the product he buys and determine anadditional level of profit. This research is a library research about the murābaḥah contract according tomuamalah fiqh and its application in modern Islamic financial institutions. Methods of collecting data indocumentation and various sources related to the murābaḥah contract are then analyzed inductively anddeductively. The results of the study are the murābaḥah foundation is the principle of buying and sellingwith a deferred payment system. Murābaḥah, as used in Sharia banking, is based on two main elements,namely the purchase price and related costs, and the agreement on mark-up (profit). Islamic banks adoptmurābaḥah to provide short-term financing to customers for the purchase of goods even though thecustomer does not have the money to pay. The murābaḥah financing portfolio in Islamic banks reaches 70-80%, but in practice there have never been any problems, including; collateral which is a problem of fiqh,risk dependency as a problem of the bank, bankruptcy and delay in payment are the problems of customers,and profits are too high, namely the problem of coming from the community. Therefore, Islamic banks mustmake improvements in the implementation to be in accordance with Sharia.Keyword : Murābaḥah, Financing Instruments, Modern Islamic Financing


2019 ◽  
Vol 4 (1) ◽  
Author(s):  
NFn Wasita, M.A.

Sebagian rangkaian aktivitas ziarah di beberapa situs arkeologi di KabupatenTapin dan Hulu Sungai Utara, Kalimantan Selatan menunjukkan adanya perilaku dan situasi di tempat ziarah yang mendukung kegiatan pelestarian tinggalan arkeologi. Oleh karena itu, peluang ini perlu dimanfaatkan agar pihak arkeologi mendapatkan cara pelestarian yang melibatkan masyarakat dan murah biayanya. Berkaitan dengan itu, maka penelitian ini ditujukan untuk menemukan cara dalam memanfaatkan perilaku dan situasi untuk pelestarian tinggalan arkeologi dengan tidak mengganggu kegiatan ziarah, namun kegiatan pelestarian yang diinginkan dapat dipertanggungjawabkan secara keilmuan (arkeologi). Penelitian ini dilakukan dengan menggunakan metode deskriptif. Implementasinya di lapangan dilakukan dengan mendeskripsikan tinggalan arkeologi untuk mengetahui kondisi eksistingnya dan riwayat pemugaran yang pernah dilakukan. Pendeskripsian ini untuk mengetahui hal-hal apa saja yang dapat dimanfaatkan dalam mendukung kegiatan pelestarian. Hasil yang diperoleh menunjukkan bahwa di situs-situs arkeologi yang diziarahi terdapat situasi dan perilaku para peziarah yang mendukung kegiatan pelestarian, seperti harus bersikap sopan, tidak merusak barang-barang yang ada di tempat ziarah (dalam konteks ini termasuk tinggalan arkeologi) dan situasi di tempat ziarah yang sakral, serta adanya teguran dari orang yang hidup di alam sebelah jika tidak sopan atau melanggar tata cara ziarah. Jadi kesimpulannya, situasi dan perilaku tersebut perlu dimanfaatkan untuk mendukung pelestarian tinggalan arkeologi. Caranya dengan memberi dukungan, karena perilaku yang baik (tidak merusak warisan budaya) merupakan bagian dari isi undang-undang cagar budaya. Selain itu, juga menghormati situasi yang tercipta di tempat ziarah karena itu merupakan pemaknaan oleh sebagian masyarakat. Agar cara mendukung dan menghormati dapat dipertanggungjawabkan, arkeolog harus jujur dan netral dalam kegiatan pelestarian.Kata kuci: tinggalan arkeologi, ziarah, situasi, perilaku, pelestarianSome parts of pilgrimage activities at several archeological sites in Tapin and Hulu Sungai Utara Districts indicate the existence of behaviors and conditions that support the conservation of archeological remains. This opportunity needs to be utilized, therefore the archeological party can obtain conservation methods that involve the community and the cost is cheap. The research goal is to gain proper method on utilizing pilgrim behaviors and situation for preserving archeological remains without interfering the pilgrimage activities, but the desired of conservation activities can be scientifically accounted (archeology). This research was conducted by using descriptive methods. Its implementation in the field was carried out by describing the archaeological remains of the existing conditions and the history of restoration that had been carried out. The describing of the pilgrim behaviors and the place conditions of pilgrimage is to find out what things can be utilized in supporting conservation activities. The results indicate that at the visited archeological sites there are conditions and behavior of pilgrims who supported conservation activities, such as having to be polite, not damage the items that are in the place of pilgrimage (in this context including archeological remains) and the situation in the sacred place of pilgrimage, as well as the rebuke of people living in the adjoining realm if they are not polite or violate to the procedure of pilgrimage. It is concluded that the situation and behavior need to be used to support the preservation of archeological remains. The way is by giving support, because good behavior (not damaging cultural heritage) is part of the contents of the cultural heritage law. In addition, it also respects the situation created in the place of pilgrimage because it is a meaning by some people. In order to be able to support and respect ways, archaeologists must be honest and neutral in conservation activities.Keywords: archaeological remains, pilgrimage, situations, behavior, preservation.


2021 ◽  
Vol 11 (3) ◽  
pp. 55-57
Author(s):  
Rani C ◽  
Harshavardhan V ◽  
Harshith G

In the 21st century online marketing is the most effective wayof advertising any product or service.Online marketing helps the smallbusinesses and also startup’sin a significant manner.online marketing happens in a virtual and interactive space where the promotion of products and services takes place. The advancement in technology has drastically changed the way of marketing. In online marketing the cost-effective compared to the traditional marketing. Most of the startup’s fail due to a lack of proper strategy.Onlinemarketing is innovativelycreating a platform for start-ups in innovative manner to reach the customers the main motto of this presentation is to show the positive side of the online marketing on start-ups and small businesses.


2020 ◽  
Vol 13(62) (2) ◽  
pp. 157-166
Author(s):  
Ștefan Bulboacă ◽  
Ovidiu Mircea Țierean

"This paper aims to evaluate the economic effects that the Romanian National Gambling Office has over the gambling industry and to determine whether this public institution brings enough benefits to cover the costs. The aim of the research was to gather information about the Romanian gambling industry, the way that this industry is managed and to make a comparison between its societal costs and benefits. "


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