Effects of Derivatives on Bank Risk

2006 ◽  
Vol 09 (02) ◽  
pp. 275-295 ◽  
Author(s):  
Dong-Hoon Yang ◽  
Inman Song ◽  
Junesuh Yi ◽  
Young-Hyeon Yoon
Keyword(s):  
Empirical Relationship ◽  
Firm Risk ◽  
Earnings Volatility ◽  
Market Participants ◽  
Alternative Measures ◽  
Exogenous Factors ◽  
Two Measures ◽  
Reduce Risk ◽  
Derivative Products

This study investigates the empirical relationship between the use of derivatives by Korean banks and risk. In doing so, we employ two alternative measures of proxy for firm risk: systematic risk and ex ante earnings volatility. Contrary to the general concerns about the risk-increasing role of the use of derivative products, our results indicate that banks' derivatives are, on average, associated with two measures of risk in negative ways. The evidence is consistent with the conjectures that derivative use reduces noise related to exogenous factors and hence decreases firm risk. This suggests that equity market participants, on average, perceive derivative activities by banks as a sign of banks' efforts to reduce risk.

Workplace diversity and job satisfaction

2020 ◽  
Vol 39 (4) ◽  
pp. 419-446
Author(s):  
Laetitia Hauret ◽  
Donald R. Williams
Keyword(s):  
Job Satisfaction ◽  
Empirical Relationship ◽  
Workplace Diversity ◽  
Probit Regression ◽  
Content Type ◽  
Two Measures ◽  
The Impact ◽  
The Relationship ◽  
Nationality Diversity

PurposeThis article estimates the empirical relationship between workplace diversity in terms of nationality and individual worker job satisfaction in the context of a multicultural country. It also examines the role of the level of communication between coworkers in moderating this relationship.Design/methodology/approachUsing merged survey and administrative data, the paper estimates OLS and ordered Probit regression estimates of the correlations between two measures of workplace diversity and self-reported job satisfaction.FindingsThe relationship between nationality diversity and job satisfaction is negative. While there is some evidence of a nonlinear relationship, it depends on the specification and measure of diversity used. Contrary to expectations, the level of interaction between colleagues does not moderate this relationship.Practical implicationsThe research highlights the need for employers to actively manage the diversity within their firms.Originality/valueThe paper adds to the diversity and job satisfaction literature by focusing on the nationalities of coworkers. It also is the first to measure the impact of the levels of interactions with coworkers on the diversity-satisfaction relationship.

scholarly journals The monitoring role of nonexecutive directors in Vietnam from a return-volatility perspective

2020 ◽  
Vol 65 (224) ◽  
pp. 29-51
Author(s):  
Anh To ◽  
Quoc Tran ◽  
Thi Tran ◽  
Kim Thai ◽  
Thi Ho
Keyword(s):  
Stock Market ◽  
Agency Theory ◽  
Stock Return ◽  
Board Independence ◽  
Return Volatility ◽  
Executive Directors ◽  
Firm Risk ◽  
Stock Return Volatility ◽  
Alternative Measures

This study examines the relevance of board independence to stock return volatility for a sample of 160 companies listed on the Vietnamese stock market over ten years (2008-2017). After controlling for potential endogeneity, we find that the presence of non-executive directors on the board tends to increase firm risk. The results indicate that non-executive directors do not play a supervisory role under the agency theory. Our findings remain robust when we apply alternative measures of the dependent variable.

POLICY CHANGE – THE ROLE OF IDEAS AND POLICY ENTREPRENEURS

2018 ◽  
pp. 63-72
Author(s):  
Arwanto Arwanto ◽  
Wike Anggraini
Keyword(s):  
Policy Change ◽  
Significant Role ◽  
Policy Process ◽  
Policy Entrepreneurs ◽  
Multiple Streams ◽  
Policy Makers ◽  
Problem Framing ◽  
Exogenous Factors ◽  
The Relationship

ABSTRACT Understanding policy process involves many distinctive approaches. The most common are institutional, groups or networks, exogenous factors, rational actors, and idea-based approach. This paper discussed the idea-based approach to explain policy process, in this case policy change. It aims to analyse how ideas could assist people to understand policy change. What role do they play and why are they considered as fundamental element? It considers that ideas are belong to every policy actor, whether it is individual or institution. In order to answer these questions, this paper adopts Kingdon’s multi streams approach to analyse academic literatures. Through this approach, the relationship between ideas and policy change can be seen clearer. Ideas only can affect in policy change if it is agreed and accepted by policy makers. Therefore the receptivity of ideas plays significant role and it emerges policy entrepreneurs. They promote ideas (through problem framing, timing, and narrative construction) and manipulate in order to ensure the receptivity of ideas. Although policy entrepreneurs play significant role, political aspects remains the most important element in the policy process. Keywords: policy change, ideas, idea-based approach, Kingdon’s multiple streams, policy entrepreneurs.

scholarly journals Behind an Accelerated Scientific Research Career: Dynamic Interplay of Endogenous and Exogenous Forces in Talent Development

2020 ◽  
Vol 10 (9) ◽  
pp. 220
Author(s):  
David Yun Dai ◽  
Xian (Stella) Li
Keyword(s):  
Professional Training ◽  
Scientific Research ◽  
Talent Development ◽  
Early College ◽  
Research Career ◽  
Learning And Development ◽  
Endogenous Factors ◽  
Exogenous Factors ◽  
Dynamic Interplay

This study looks at the educational experiences, from the preschool years to advanced professional training in STEM fields, of a targeted sample of 10 (7 male, 3 female) early college entrants in China who later became professors at prestigious USA research universities. The purpose of the study was to find out (1) what some identifiable endogenous factors were about these individuals that facilitated the success of their accelerated learning and development; (2) what kinds of exogenous factors (e.g., environmental opportunities, resources, support) they experienced from childhood to adulthood that enhanced the successful acceleration experience; and (3) how these endogenous and exogenous factors facilitated their developmental transitions every step of the way, especially from the role of a student to that of an aspiring scientist. These questions are addressed in light of evolving complexity theory. Retrospective interviews were used for data collection. Thematic analysis of the codes from interview data yielded a conceptual map. A distinct set of endogenous and exogenous factors at different developmental junctures were identified, and their dynamic interplay was delineated to account for accelerated trajectories toward a scientific research career. The theoretical significance and practical implications of the study for talent development in science are discussed.

Cerebral vasoconstriction following CEA and the role of conventional cerebral angiography

2020 ◽  
pp. 10.1212/CPJ.0000000000000941
Author(s):  
Azam S. Tolla ◽  
Muhammad U. Farooq ◽  
Bradly Haveman-Gould ◽  
Ghassan Naisan ◽  
Philip B. Gorelick
Keyword(s):  
Myocardial Infarction ◽  
Carotid Artery ◽  
Cerebral Hyperperfusion Syndrome ◽  
Carotid Revascularization ◽  
Cerebral Vasoconstriction ◽  
Cerebral Hyperperfusion ◽  
Delayed Complication ◽  
Reduce Risk ◽  
Revascularization Procedures

Carotid endarterectomy (CEA) and carotid artery stenting (CAS) are established cerebrovascular procedures to reduce risk of stroke. Complications include stroke, myocardial infarction, and death. A delayed complication following carotid revascularization is cerebral hyperperfusion syndrome (CHS), which can manifest as intracerebral hemorrhage (ICH)[1]. A less common delayed complication of carotid revascularization procedures is reversible cerebral vasoconstriction syndrome (RCVS).

IMMUNOLOGIC AND BIOCHEMICAL STUDIES IN INFANTS AND CHILDREN WITH SPECIAL REFERENCE TO RHEUMATIC FEVER

PEDIATRICS ◽  
1948 ◽  
Vol 2 (3) ◽  
pp. 239-241
Author(s):  
MAY G. WILSON
Keyword(s):  
Rheumatic Fever ◽  
Epidemiologic Studies ◽  
Direct Result ◽  
Endogenous Factors ◽  
Number Of Children ◽  
Exogenous Agents ◽  
Exogenous Factors ◽  
Long Term Observation

CERTAIN individuals are more susceptible than others to many conditions. In recent years it has become clear that in rheumatic fever, susceptibility of the host is an important factor in the pathogenesis of the disease. It was concluded from genetic and epidemiologic studies that susceptibility to rheumatic fever is on a genetic and age basis. Although the susceptible child cannot be identified at the present time, the number of children expected to be susceptible in a group of families of known genotype may be determined on the basis of recessive inheritance. It may, therefore, be postulated that distributed among a group of families of known hereditary background are children who are susceptible and insusceptible to the acquisition of rheumatic fever. As a direct result of long term observation of rheumatic families over a period of 30 years, a second generation of children of known hereditary background is available to us for exploratory studies. This group includes children from families in which one or both parents are rheumatic, or in which neither parent is rheumatic. In this group there are normal (insusceptible), susceptible and rheumatic children. The nature of the hereditable factors which may be responsible for susceptibility is obscure. Recent advances in biochemical genetics have provocative implications in rheumatic fever. Of particular interest are the observations which demonstrate that such biochemical reactions as enzyme and protein specificities are gene determined. As a working hypothesis it seemed reasonable to postulate that in a susceptible child, abnormal physiologic, chemical, immunologic or hormonal responses might be found. Differences might then be observed in certain reactions between the normal group and a group containing a high proportion of genetically susceptible children. This approach does not conflict with the concept that exogenous factors, irrespective of their nature, may also be operative. If the nature of the endogenous factors were known, the role of possible exogenous agents would be clarified.

Determinants and Consequences of Firms' Derivative Accounting Decisions

2020 ◽  
Vol 5 (1) ◽  
pp. 81-114 ◽  
Author(s):  
Spencer Pierce
Keyword(s):  
Financial Reporting ◽  
Accounting Standards ◽  
Fair Value ◽  
Financial Accounting ◽  
Firm Risk ◽  
Accounting Firms ◽  
Earnings Volatility ◽  
Hedge Accounting ◽  
Reported Earnings ◽  
Jel Classifications

ABSTRACTFinancial accounting standards require derivatives to be recognized at fair value with changes in value recognized immediately in earnings. However, if specified criteria are met, firms may use an alternative accounting treatment, hedge accounting, which is intended to better represent the underlying economics of firms' derivative use. Using FAS 161 disclosures, I examine determinants of hedge accounting use and the effects of hedge accounting on financial reporting and capital markets. I find variation in firms' hedge accounting use and provide evidence that compliance costs of applying hedge accounting affect firms' decision to use hedge accounting. Firms decrease their reported earnings volatility via derivatives that receive hedge accounting and could further decrease their earnings volatility if hedge accounting were applied to all their derivatives. Inconsistent with arguments given for using hedge accounting, I fail to find a decrease in investors' assessments of firm risk from using hedge accounting.JEL Classifications: M40; M41; G32.

Role of cdc25-C phosphatase in the immediate G2 delay induced by the exogenous factors epidermal growth factor and phorbolester

1996 ◽  
Vol 168 (3) ◽  
pp. 589-599 ◽  
Author(s):  
Holger Barth ◽  
Ingrid Hoffmann ◽  
Susanne Klein ◽  
Marietta Kaszkin ◽  
James Richards ◽  
...  
Keyword(s):  
Growth Factor ◽  
Epidermal Growth Factor ◽  
Epidermal Growth ◽  
Exogenous Factors ◽  
G2 Delay

scholarly journals ENTERPRISE COMPETITIVE POSITION MANAGEMENT ON THE BASIS OF BOOSTING CONFIDENCE TO BUSINESS

2017 ◽  
pp. 7-21
Author(s):  
Eva Frizovna Khandamova ◽  
Anastasia Vitalyevna Ivakh ◽  
Stanislav Vladimirovich Fedin ◽  
Mikhail Borisovich Shchepakin
Keyword(s):  
Effective Management ◽  
Business Growth ◽  
Competitive Position ◽  
Market Participants ◽  
Communication Space ◽  
The Subject ◽  
Points Of View ◽  
Position Management ◽  
Market Relations

Solving the problems of business growth in modern conditions requires effective management of the ever-increasing system of market relations between business and consumers, partners and other participants in the communication space. The increasing role of marketing communications in resolving motivational and resource contradictions between market participants is substantiated. The influence of various potentials on the formation of sources of effective functioning and business development is indicated. Different points of view regarding communication as a category determining the formation of "confidence" as a tool for managing the competitive position of an enterprise are considered. The nature of communication divergence is revealed in the construction of marketing fields of interacting subjects. The need to consider the interrelationship of different resources (labor, intellectual, communication, cognitive, motivational) as the basic components determining the state of the capital (moral, motivational, marketing-behavioral) formed by the subject is identified. A resource approach to building trust in business is proposed. The influence of organizational culture on the implementation of a positive marketing mimicry of business to the requirements of a competitive market is indicated. The model of the enterprise competitive position management by means of increasing the confidence to business in terms of building the marketing communication field is offered.

scholarly journals Role of swasthavritta in preventing lifestyle disorders with reference to obesity.

2020 ◽  
Vol 8 (01) ◽  
Author(s):  
Saiprasad Rathod
Keyword(s):  
Life Style ◽  
Overweight And Obesity ◽  
Curative Effect ◽  
Unhealthy Eating ◽  
The World ◽  
Diet Pattern ◽  
Reduce Risk ◽  
Day By Day

life style disorders are defined as the disorders linked with the way of people live their life. this is commonly caused by alcohol, drugs and smoking as well as lack of physical activity and unhealthy eating. Diseases that mostly have an effect on our lifestyle are the heart disease, stroke, obesity and type 2 diabetes mellitus. overweight and obesity are the fifth leading risk of global death, worldwide obesity has more than doubled since 1980. In 2014, more than 1.9 million adult, 18 yrs. and older, were overweight, of these over 600 million men and women were obese. Due to faulty lifestyle and diet pattern the incidence of obesity is increasing day by day all over the world. according to Ayurveda obesity also known as sthoulya or medoroga. according to Ayurveda obesity can lead to many life style disorders. Ayurveda has a great importance to reduce risk of lifestyle disorders. There are so many concepts which will reduce the risk of life style disorders. Acc. To swasthavritta there are so many pathya aahar kalpna, various type of aasanas and yoga described thus, above factors has wonderful preventive and curative effect on obesity.

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