Shaping the Risk

2021 ◽  
pp. 299-314
Author(s):  
Andrew C. A. Elliott
Keyword(s):  
Financial Engineering ◽  
Financial Risks ◽  
Board Game ◽  
The Past ◽  
Financial Difficulties ◽  
Hedging Strategies ◽  
Futures And Options ◽  
Overall Risk

The board game backgammon illustrates that we can control the effects of risk by understanding chances, controlling our exposure to risk, and attending to the preparation of our responses. If we understand the risks we face in a financial context, hedging strategies can allow us to shape the overall risk by offsetting some or all of it, but this comes at a price. Financial futures and options are some of the tools that allow financial risks to be shaped in creative ways. Where risks are poorly understood, though, these financial engineering approaches may not always be effective, and have in the past led to financial difficulties.

The Anarchical Society and a Global Political Economy

2017 ◽  
Author(s):  
Louis W. Pauly
Keyword(s):  
Political Economy ◽  
Financial Risks ◽  
Empirical Observation ◽  
The Past ◽  
Economic Forces ◽  
Famous Book ◽  
Economic Ideology ◽  
Hedley Bull ◽  
Systemic Crises ◽  
Complex Capacity

If Hedley Bull came back today and revised his most famous book, he would likely devote a chapter to the economic forces that transformed our world during the past four decades. Among other systemic changes, the radical unleashing of finance and the partial return of a pre-1914 economic ideology justifying open and integrating capital markets might surprise an advocate of the virtues of the states system. But by following Bull’s reasoning, his model of empirical observation, and his underlying moral sensibilities—as well as suggestions from his constructive critics—this essay traces the emergence since the late 1970s of a variegated global capacity to assess systemic financial risks, design collaborative policies to prevent systemic crises, and manage them when they nevertheless occur. The challenge of deeply legitimating that nuanced and complex capacity remains, which, as Bull anticipated, means that considerations of justice must soon be addressed.

Preventive Medicine

2016 ◽  
pp. 365-374
Author(s):  
Amy T. Wang ◽  
Karen F. Mauck
Keyword(s):  
Surgical Procedures ◽  
Preventive Medicine ◽  
The Past ◽  
Risk Of Mortality ◽  
American Society ◽  
American Society Of Anesthesiologists ◽  
Complex Surgical Procedures ◽  
Overall Mortality ◽  
Overall Risk

Mortality associated with anesthesia and surgery has decreased markedly in the past several decades. Today the overall mortality is 1:250,000 even though more complex surgical procedures are performed on sicker patients. The American Society of Anesthesiologists classification, with broadly defined categories, is used to estimate overall risk of mortality within 48 hours postoperatively.

scholarly journals Groei- en oorlewingstrategie vir boerderyondernemings

1980 ◽  
Vol 11 (1) ◽  
pp. 28-36
Author(s):  
André Louw
Keyword(s):  
Equity Capital ◽  
Survival Strategies ◽  
Financial Risks ◽  
Growth Strategies ◽  
Growth And Survival ◽  
Tax Rate ◽  
Financial Difficulties ◽  
Survival Capacity ◽  
Financial Decision ◽  
The Cost

Growth and survival strategies for farming enterprises. The cost-push inflation situation during recent years has forced the farmer to consider the survival objective to be as important as the growth objective. These objectives are related. Any farming enterprise should endeavour to increase its survival capacity. Both an increase in the ability to survive and improved profitability are therefore necessary. Strategic planning gives guidelines to management. Strategic financial decision making is equally important. The financial components that have a substantial influence on the continued existence of the firm are its profitability, amount of non-equity capital used, the cost of that capital as well as tax rate and consumption propensity. The financial risks attached to higher non-equity capital and the resultant fixed obligations can cause liquidity problems, which are aggravated by the present inflation situation. Possible growth strategies considered are borrowing fixed capital and buying working capital with credit; investing assets that appreciate in value and attracting outside equity. cash management and planning are important aspects. Strategies during periods when agriculture experiences financial difficulties concentrate on cost and cash control as well as on higher productivity.Kostedrukinflasietoestande van die afgelope jare het die boerdery-ondernemer gedwing om die oorlewingsdoelwit gelyk aan die groeidoelwit te stel. Hierdie doelwitte hou egter verband met mekaar. Boerdery-ondernemings moet daarna streef om oorlewingskapasiteit te verbeter, dus is 'n toename in die vermoe om te oorlewe, sowel as 'n verbetering in rentabiliteit nodig. Strategiese beplanning gee riglyne aan die bestuur. Ook is strategiese finansiele besluitneming belangrik. Finansiele komponente wat invloed op die onderneming se voortbestaan het, is winsgewendheid, hoeveelheid vreemde kapitaal gebruik, kapitaalkoste, belastingkoerse en verbruikersgeneigdheid. Die finansiele risiko wat met verhoogde vreemde kapitaal en dus vaste verpligtinge gepaard gaan, kan likiditeitsprobleme skep wat deur die huidige inflasiesituasie vererger word. Groeistrategiee wat oorweeg word is die huur van vaste kapitaal, verkryging van vlottende kapitaal deur middel van krediet, belegging in waarde-appresierende bates sowel as die aantrekking van eie kapitaal van buite. Kontantbestuur en -beplanning is belangrike aspekte. Strategiee wat tydens finansiele drukperiodes in die landbou gevolg kan word, konsentreer op koste- en kontantkontrole en hoer produktiwiteit.

scholarly journals Bolivia's Emerging Cut-flower Industry: A Performance Assessment

HortScience ◽  
1992 ◽  
Vol 27 (12) ◽  
pp. 1319-1322
Author(s):  
John J. Haydu ◽  
Alan W. Hodges ◽  
Diego Montenegro
Keyword(s):  
Performance Assessment ◽  
Economic Activity ◽  
Cut Flower ◽  
Producer Price ◽  
Flower Production ◽  
The Past ◽  
Financial Difficulties ◽  
Small Producer ◽  
Flower Industry

Cut-flower production in Bolivia is a growing economic activity with sales increasing > 10-fold in the past 6 years. In spite of this growth, Bolivian producers face considerable financial difficulties. Two distinct patterns emerged from this study. Small and medium growers experienced lower costs than larger producers, but the prices they received were also lower. Large operators received twice the small producer price for their flowers, but this gain was offset by the higher costs they had incurred. In the long term, neither selling too low nor operating at costs too high is a sustainable practice.

scholarly journals The University in the 1990s: Crisis or Predicament?

1993 ◽  
Vol 23 (1) ◽  
pp. 114-132
Author(s):  
W. M. Sibley
Keyword(s):  
Decision Making ◽  
Academic Culture ◽  
Governance Structures ◽  
Decision Space ◽  
The Past ◽  
External Constraints ◽  
Financial Difficulties ◽  
Institutional Values ◽  
The University ◽  
Current Systems

The financial difficulties which our universities are currently encountering are not without precedent, as a brief retrospective look at conditions in the 1930s will attest. However, the "decision space " in which we must operate today is far more circumscribed than at any time in the past. External constraints continue to increase in number and severity; the contemporary academic culture has greatly weakened old institutional values and identities; and governance structures have become inordinately complex, cumbersome, and ill-adapted to deal with existing realities. In these circumstances, strident demands for "greater accountability " and "stronger leadership " cannot really be met. It is imperative that we not only address certain pressing problems but also identify several genuine system contradictions, which cannot be evaded and sooner or later must be resolved. Any credible agenda for renewal must be based on new paradigms of participation and models of governance, that will enable us to create patterns of decision-making far more suited to cope with emerging realities than the outmoded forms embedded in our current systems.

Assessing financial difficulty in patients with multiple myeloma: Preliminary results of ALLIANCE A231602CD.

2021 ◽  
Vol 39 (15_suppl) ◽  
pp. 8031-8031
Author(s):  
Rena M. Conti ◽  
Shaylene McCue ◽  
Travis Dockter ◽  
Bruce D. Rapkin ◽  
Stacie Dusetzina ◽  
...  
Keyword(s):  
Multiple Myeloma ◽  
Primary Objective ◽  
National Study ◽  
Financial Difficulty ◽  
The Past ◽  
Financial Difficulties ◽  
Study Results ◽  
Eortc Qlq C30 ◽  
Chart Abstraction ◽  
Eortc Qlq

8031 Background: New orally administered anticancer treatments have launched in recent years, promising gains in survival and quality of life, but with high prices.Financial difficulties encountered over the course of cancer diagnosis and treatment is a growing concern. These difficulties include inability to pay for basic necessities, presence of medical debt, and high out of pocket burdens relative to income. The primary objective of this study was to estimate the proportion of patients with multiple myeloma (MM) who experience financial difficulties in the past 12 months.Methods: Data collection entailed a comprehensive, theoretically grounded telephone survey and companion medical chart abstraction. Subjects included individuals with a current diagnosis of MM whose current or recent treatment included pharmaceutical-based care and who were not enrolled in a treatment-based trial. Practices eligible to recruit respondents included 44 NCORP affiliates of the Alliance. 14 geographically diverse NCORP affiliates participated between 11/2019 and 6/2020. The primary endpoint of the study was the proportion of subjects who reported financial difficulty in the past 12 months, as measured by the EORTC QLQ-C30 item #28. This proportion and 95% Wilson score confidence interval were estimated for all MM patients who responded to the financial difficulty question ((# reported financial difficulty)/(total # in that category who answered the question)). NCI Central IRB approved this study. Results: 393 subjects were recruited. 304 subjects completed the survey (77.4% response rate). Mean age was 67.5 years (SD 9.8), 143 (46.4%) were female, 24 (7.8%) self-reported race as ‘Black or African American’, 82 (26.6%) reported insured by government insurance Medicare only, 116 (38.2%) reported highest education as high school or below, and 94 (30.5%) reported high income. Mean time from diagnosis to survey enrollment was 3.6 years (SD 4.5). 292 (95.1%) were currently receiving treatment and 192 (62.5%) reported currently receiving a pre-defined ‘expensive’ oral pharmaceutical-based cancer treatment. 20.2% (95% CI:16.1%, 25.0%) reported financial difficulties. Conclusions: This is the first national study to systematically assess the prevalence of financial difficulties and its correlates among MM patients. Approximately 1 in 5 surveyed patients reported financial difficulties. Results of this study aim to inform efforts to improve financial navigation and resources for cancer patients.

The Expansion of Consumer Credit in Italy and the Main Euro Area Countries

2021 ◽  
pp. 1-31
Author(s):  
Silvia Magri ◽  
Valentina Michelangeli ◽  
Sabrina Pastorelli ◽  
Raffaella Pico
Keyword(s):  
Consumer Credit ◽  
Interest Rate Risk ◽  
Financial Risks ◽  
Fixed Rate ◽  
Consumer Durables ◽  
Demand And Supply ◽  
The Past ◽  
Consumer Loans ◽  
Credit Demand ◽  
High Share

Since 2015, consumer loans have been rising fast in France, Germany, Spain and Italy. This article aims to provide broad evidence of the differences across countries in light of the recent consumer credit growth, exploring demand and supply factors typically related to this type of loan, and assessing the building up of financial risks. The expansion was connected in all countries with the increasing credit demand, specifically for consumer durables, and – for Italy and Spain, which experienced stronger credit tightening during the past crises – also with the easing of supply conditions. Risks stemming from the growth of consumer credit are mitigated by its lower incidence, compared with mortgages, on households’ total debt and income; exposure to interest rate risk is also decreasing owing to the high share of fixed-rate contracts. There is wide risk heterogeneity across countries, with Italy and Spain having the highest share of delinquent households (even for fewer than 90 days). In Italy, however, debt is increasingly concentrated among more affluent households, which are better able to withstand negative economic shocks. This trend is sustaining the drop in the ratio of new non-performing consumer loans.

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