Demands for banks to resume dividend payouts will rise

2020 ◽  
Keyword(s):  
Economic Consequences ◽  
Complex Field ◽  
Content Type

Significance The measures were designed to boost crisis resilience but they have depressed valuations and made capital-raising more difficult. Banks want them lifted but doing so might be risky if insolvencies rise in early 2021 as governments withdraw support for business. Impacts Unwinding the blanket ban on dividends would help investors differentiate among bank stocks and reduce opacity in an already complex field. Higher dividends would serve as a stimulus measure once populations are vaccinated and consumer sectors rebound. The length and long-term economic consequences of the pandemic are key concerns for banks, governments, firms and households.

Israeli Christians could influence the peace process

2016 ◽  
Keyword(s):  
Peace Process ◽  
Economic Consequences ◽  
The West ◽  
Arab Population ◽  
Content Type ◽  
Voting Turnout ◽  
Major Flare ◽  
Christian Service ◽  
Israeli Army

Subject Palestinian Christians tend to support a two-state solution. Significance Although Palestinian Christians comprise only about 2% of the population in both the West Bank and Israel, their views on the Arab-Israeli peace process are significant. They have higher rates of education than other communities and are overrepresented among Palestinian leadership. Impacts The issue of Christian service in the Israeli army may in the long term become a source of domestic political controversy. Concern over the economic consequences of a major flare-up in violence would limit Palestinian Christian support for any third intifada. Israeli Arab Christian voting turnout is lower than for the Arab population as a whole, which could undercut their political impact. The local influence of Palestinian Christian 'personalities' may be enhanced by their perceived influence in the West.

Sahel floods will compound regional fragility

2020 ◽  
Keyword(s):  
Time Horizon ◽  
Economic Consequences ◽  
Medium Term ◽  
Content Type ◽  
Resource Poor

Significance Affected communities face long-term economic consequences, and their governments -- already resource-poor, and with budgets stretched thin by insecurity, corruption and COVID-19 -- are not in a position to help much. Impacts Recurrent crises in the Sahel may dent governments’ overall capacities to think and act on a medium-term time horizon. Given that several capitals are heavily affected, authorities may struggle to find and distribute resources for more remote affected zones. Appeals for funding will fall shorter than average, given the lack of bandwidth from donors because of COVID-19.

scholarly journals Egyptian budgetary responses to COVID-19 and their social and economic consequences

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Emad M. Elkhashen ◽  
Ahmed Sarhan ◽  
Amanze Ejiogu
Keyword(s):  
Design Methodology ◽  
Cash Transfers ◽  
Economic Consequences ◽  
Positive Outcomes ◽  
Content Type ◽  
Social Interventions ◽  
Short And Long Term ◽  
Fiscal Space ◽  
The Impact

PurposeThis paper discusses the impact of COVID-19 pandemic on the Egyptian economy and Egyptian government's budgetary responses to the pandemic.Design/methodology/approachThe authors undertake a critical analysis of Egyptian government's economic and social interventions in response to the COVID-19 pandemic, the funding of these interventions and their short- and long-term implications.FindingsThe analysis shows that the Egyptian government's response to the pandemic will shrink Egypt's fiscal space significantly as increased borrowing and debt service obligations are not offset by the levying of corona tax on salaries and wages. However, increased taxation will impact negatively on poverty. The authors show that social interventions such as cash transfers are not provided at a level which will make an impact on alleviating poverty. The authors highlight increased spending on health as well as the adoption of a gender perspective in the response to the pandemic as positive outcomes with potential for future societal impact.Originality/valueThe authors highlight the Egyptian government's budgetary response to the COVID-19 pandemic and the economic and social implications of this response.

Financing and supervisory effects of credit ratings: evidence from mergers and acquisitions

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Qian Xu ◽  
Yuhui Wu ◽  
Lingling Zhai
Keyword(s):  
Credit Rating ◽  
Credit Ratings ◽  
Probit Model ◽  
Economic Consequences ◽  
Financial Behavior ◽  
Content Type ◽  
Emerging Capital Markets ◽  
The Impact

Purpose The purpose of this paper is to examine how credit ratings affect corporate financial behavior from the perspective of merger and acquisition (M&A) decisions. The goal is to test the financing and supervisory effects of credit ratings and study the economic consequences of credit ratings in the context of China. Design/methodology/approach Using a sample of Chinese A-share listed companies over the 2008–2017 period, this paper empirically examines the effect of credit ratings on firms’ M&A decisions. The authors used a probit model for regression when they tested the effect of credit rating on M&A likelihood and a tobit model when they tested the effect of credit rating on M&A intensity. Findings First, rated enterprises tend to make more acquisitions compared with non-rated enterprises, consistent with the hypothesis that credit ratings alleviate financing constraints. Second, high-rated enterprises are more cautious toward M&As due to concerns about preserving their ratings, which indicates that credit ratings also play a supervisory role in the M&A process. Additional tests show that enterprises reduce M&A activity after a rating downgrade to avoid further deterioration in their ratings; this further supports the supervisory role of credit ratings. Originality/value This paper adds incremental evidence to the literature on the impact of credit ratings on corporate financial behavior and extends the literature on the factors influencing M&As. The authors provided empirical evidence from emerging capital markets for the financing and supervisory effects of credit ratings and provided theoretical guidance for promoting the stable, long-term development of China’s credit rating industry.

Dual-isotope single-photon emission computerized tomography scanning in patients with glioblastoma multiforme: association with patient survival and histopathological characteristics of tumor after high-dose radiotherapy

1998 ◽  
Vol 89 (1) ◽  
pp. 60-68 ◽  
Author(s):  
Richard B. Schwartz ◽  
B. Leonard Holman ◽  
Joseph F. Polak ◽  
Basem M. Garada ◽  
Marc S. Schwartz ◽  
...  
Keyword(s):  
Survival Rate ◽  
Glioblastoma Multiforme ◽  
Single Photon ◽  
Photon Emission ◽  
High Dose ◽  
Term Survival ◽  
Content Type ◽  
Dual Isotope ◽  
Fine Print

Object. The study was conducted to determine the association between dual-isotope single-photon emission computerized tomography (SPECT) scanning and histopathological findings of tumor recurrence and survival in patients treated with high-dose radiotherapy for glioblastoma multiforme. Methods. Studies in which SPECT with 201Tl and 99mTc-hexamethypropyleneamine oxime (HMPAO) were used were performed 1 day before reoperation in 47 patients with glioblastoma multiforme who had previously been treated by surgery and high-dose radiotherapy. Maximum uptake of 201Tl in the lesion was expressed as a ratio to that in the contralateral scalp, and uptake of 99mTc-HMPAO was expressed as a ratio to that in the cerebellar cortex. Patients were stratified into groups based on the maximum radioisotope uptake values in their tumor beds. The significance of differences in patient gender, histological characteristics of tissue at reoperation, and SPECT uptake group with respect to 1-year survival was elucidated by using the chi-square statistic. Comparisons of patient ages and time to tumor recurrence as functions of 1-year survival were made using the t-test. Survival data at 1 year were presented according to the Kaplan—Meier method, and the significance of potential differences was evaluated using the log-rank method. The effects of different variables (tumor type, time to recurrence, and SPECT grouping) on long-term survival were evaluated using Cox proportional models that controlled for age and gender. All patients in Group I (201Tl ratio < 2 and 99mTc-HMPAO ratio < 0.5) showed radiation changes in their biopsy specimens: they had an 83.3% 1-year survival rate. Group II patients (201T1 ratio < 2 and 99mTc-HMPAO ratio of ≥ 0.5 or 201Tl ratio between 2 and 3.5 regardless of 99mTc-HMPAO ratio) had predominantly infiltrating tumor (66.6%); they had a 29.2% 1-year survival rate. Almost all of the patients in Group III (201Tl ratio > 3.5 and 99mTc-HMPAO ratio ≥ 0.5) had solid tumor (88.2%) and they had a 6.7% 1-year survival rate. Histological data were associated with 1-year survival (p < 0.01); however, SPECT grouping was more closely associated with 1-year survival (p < 0.001) and was the only variable significantly associated with long-term survival (p < 0.005). Conclusions. Dual-isotope SPECT data correlate with histopathological findings made at reoperation and with survival in patients with malignant gliomas after surgical and high-dose radiation therapy.

Long-term management of patients with multiple brain metastases after shaped beam radiosurgery

2004 ◽  
pp. 406-412
Author(s):  
Paul Okunieff ◽  
Michael C. Schell ◽  
Russell Ruo ◽  
E. Ronald Hale ◽  
Walter G. O'Dell ◽  
...  
Keyword(s):  
Brain Metastases ◽  
Tumor Control ◽  
Content Type ◽  
Negative Results ◽  
Multiple Metastases ◽  
Extracranial Disease ◽  
Successful Control ◽  
The Brain

✓ The role of radiosurgery in the treatment of patients with advanced-stage metastatic disease is currently under debate. Previous randomized studies have not consistently supported the use of radiosurgery to treat patients with numbers of brain metastases. In negative-results studies, however, intracranial tumor control was high but extracranial disease progressed; thus, patient survival was not greatly affected, although neurocognitive function was generally maintained until death. Because the future promises improved systemic (extracranial) therapy, the successful control of brain disease is that much more crucial. Thus, for selected patients with multiple metastases to the brain who remain in good neurological condition, aggressive lesion-targeting radiosurgery should be very useful. Although a major limitation to success of this therapy is the lack of control of extracranial disease in most patients, it is clear that well-designed, aggressive treatment substantially decreases the progression of brain metastases and also improves neurocognitive survival. The authors present the management and a methodology for rational treatment of a patient with breast cancer who has harbored 24 brain metastases during a 3-year period.

Spinal meningioma after treatment for Hodgkin disease

2001 ◽  
Vol 95 (2) ◽  
pp. 232-235 ◽  
Author(s):  
Andrew J. Martin ◽  
Christopher J. Hammond ◽  
H. Jane Dobbs ◽  
Safa Al-Sarraj ◽  
Nicholas W. M. Thomas
Keyword(s):  
Hodgkin Disease ◽  
Second Primary ◽  
Combined Modality Treatment ◽  
Spinal Meningioma ◽  
Primary Tumors ◽  
Content Type ◽  
Radiation Induced ◽  
Mutagenic Effects ◽  
Long Term Survivors

✓ Long-term survivors of Hodgkin disease may develop second primary tumors caused by the mutagenic effects of radio- and chemotherapy. The authors describe the case of a 35-year-old woman who presented with an unusual meningioma of the cervical spine 9 years after undergoing combined-modality treatment for Hodgkin disease. To the authors' knowledge, this is the first report of spinal meningioma as a complication of such therapy. Whereas radiation-induced intracranial meningiomas are well described in the literature, treatment-induced meningiomas of the spine have not been widely recognized.

scholarly journals South Africa’s economic response to monetary policy uncertainty

2017 ◽  
Vol 44 (2) ◽  
pp. 282-293 ◽  
Author(s):  
Mehmet Balcilar ◽  
Rangan Gupta ◽  
Charl Jooste
Keyword(s):  
Monetary Policy ◽  
Interest Rates ◽  
Stochastic Volatility ◽  
Stochastic Volatility Model ◽  
Economic Consequences ◽  
Policy Uncertainty ◽  
Dsge Model ◽  
Content Type ◽  
Volatility Model ◽  
Central Bankers

Purpose The purpose of this paper is to study the evolution of monetary policy uncertainty and its impact on the South African economy. Design/methodology/approach The authors use a sign restricted SVAR with an endogenous feedback of stochastic volatility to evaluate the sign and size of uncertainty shocks. The authors use a nonlinear DSGE model to gain deeper insights about the transmission mechanism of monetary policy uncertainty. Findings The authors show that monetary policy volatility is high and constant. Both inflation and interest rates decline in response to uncertainty. Output rebounds quickly after a contemporaneous decrease. The DSGE model shows that the size of the uncertainty shock matters – high uncertainty can lead to a severe contraction in output, inflation and interest rates. Research limitations/implications The authors model only a few variables in the SVAR – thus missing perhaps other possible channels of shock transmission. Practical implications There is a lesson for monetary policy: monetary policy uncertainty, in isolation from general macroeconomic uncertainty, often creates unintended adverse consequences and can perpetuate a weak economic environment. The tasks of central bankers are incredibly difficult. Their models project output and inflation with relatively large uncertainty based on many shocks emanating from various sources. It matters how central bankers react to these expectations and how they communicate the underlying risks associated with setting interest rates. Originality/value This is the first study that looks into monetary policy uncertainty into South Africa using a stochastic volatility model and a nonlinear DSGE model. The results should be very useful for the Central Bank as it highlights how uncertainty, that they create, can have adverse economic consequences.

To examine the relationships between supplier development practices and supplier-buyer relationship practices from the supplier’s perspective

2017 ◽  
Vol 24 (5) ◽  
pp. 1309-1336 ◽  
Author(s):  
Sarang Joshi ◽  
Manoj Kharat ◽  
Rakesh Raut ◽  
Sachin Kamble ◽  
Sheetal Kamble
Keyword(s):  
Structural Equation ◽  
Success Factors ◽  
Structural Model ◽  
Manufacturing Firms ◽  
Supplier Development ◽  
Competitive Advantages ◽  
Content Type ◽  
The Relationship ◽  
Relationship Improvement

Purpose The purpose of this paper is to examine the relationships between supplier development practices (SDPs) and supplier-buyer relationship practices from the supplier’s perspective (SBRSP), and seek to understand how specific SDPs may impact a buyer’s operational performance as well as supplier-buyer relationship practices. Design/methodology/approach The authors conducted a survey of 512 respondents from the different manufacturing firms in India and applied structural equation modelling to test a structural model that proposes the impacts of various efforts of SDPs on a buyer’s performance as well as SBRSP. Findings The study concludes that SDPs and SBRSP together improve the relationship between a buyer and supplier, and this improved relationship leads to competitive advantages (CAs) followed by profitability. Results indicate that supplier perspective of buyer-supplier relationship can be improved under the condition of SDPs and SBRSP together. SDPs are driven by productive measure and competitive pressure, whereas customer uncertainty is found to be statistically insignificant. Research limitations/implications The study was carried out in North Maharashtra Industrial Zone of India, where the auto sector and machine/components manufacturing firms have been established for a considerable period of time. Results of the study are limited to manufacturing organizations predominantly focussing on the automobile sector and machine/components manufacturing firms. Practical implications This study provides significant insights into the specific impact of various SDPs and SBRSP for both academics and practitioners. SDPs along with SBRSP practices lead to improvement in the relationship leading to CAs. SBRSP suggests that trust, long-term commitments and the supplier’s perspective are important practices for relationship improvement. Originality/value The current study attempts to identify what are the success factors for the supplier-buyer relationship from the supplier’s perspective and SDPs and how the supplier-buyer relationship can be improved under the condition of SDPs and SBRSP. Hence, the aim is to develop a more thorough understanding of the outcomes of a supplier-buyer relationship improvement from both buyer’s and supplier’s perspective, under the conditions of supplier development to achieve CAs leading to profitability. Furthermore, the study analyses the effect of the improved supplier-buyer relationship for achieving CAs leading to profitability.

scholarly journals Sinabung volcano: how culture shapes community resilience

2019 ◽  
Vol 28 (3) ◽  
pp. 290-303
Author(s):  
Marta Mori ◽  
Ronan McDermott ◽  
Saut Sagala ◽  
Yasmina Wulandari
Keyword(s):  
Structured Interviews ◽  
Content Type ◽  
Aid Dependency ◽  
Relief Operations ◽  
Long Term Impact ◽  
Cultural Experts ◽  
Practical Implications

Purpose The purpose of this paper is to explore how culture, including traditions and social structures, can influence resilience and how culturally sensitive relief operations can put affected people and their context at the core of any interventions. Design/methodology/approach A case study of the Mt Sinabung volcano area in Indonesia was undertaken. As part of the case study, an analysis of interventions was conducted, which was complemented by semi-structured interviews with Karo cultural experts and humanitarian organisations. Findings Culture influences the manner in which the Karo people react to volcano eruptions with varying implications for recovery. In addition, relief organisations which understand people’s actions through a cultural lens have better managed to tailor programs with long-term impact, thereby avoiding aid dependency. Practical implications Practical examples of disaster management activities that adequately account for the beneficiaries’ way of living prior to the eruptions are provided. Aid actors are provided with guidance concerning how to better tailor their activities in line with a cultural lens. Originality/value The study provides empirical grounding for claims concerning the role of culture in planning interventions in Indonesia and other similar contexts.

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