scholarly journals Examining failure learning in online lending: Complete failure vs. incomplete failure

PLoS ONE ◽  
2021 ◽  
Vol 16 (11) ◽  
pp. e0255666
Author(s):  
Ji-Wen Li ◽  
Qinghui Cui ◽  
Jia-Jia Zhang
Keyword(s):  
Learning Effects ◽  
Negatively Associated ◽  
Large Sample ◽  
Future Performance ◽  
Complete Failure ◽  
Good For ◽  
Improved Learning ◽  
Financial Transactions ◽  
Online Lending

We examine the learning effects of borrowers’ failures in online lending. Based on funding ratios of borrowers’ loan listings in online lending, we first explore the role of failure degree in borrowers’ future funding performance. Further, we disaggregate borrowers’ funding failure into complete failure and incomplete failure, and compare theirs learning effects. Using a large sample of 610,000 online loan applications over six years from a Chinese leading online lending platform Renrendai, we use funding ratio to quantifiably measure each loan listing’s failure degree and conduct a series of tests. The results show that: (1) Borrowers’ failure degree of prior loan applications is negatively associated with one’s subsequent funding performance. (2) Borrowers’ complete failure cannot promote learning, while incomplete failure is good for future performance. (3) Both incomplete failure and complete failure interacted to influence the value of each type of experience and generate improved learning. Our results are robust across a variety of settings. The study sheds light for deeply understanding of failure learning phenomenon, and can also provide important implications for online lending managers to support successful financial transactions.

Governing Proliferation Finance

2019 ◽  
Author(s):  
Grégoire Mallard
Keyword(s):  
United Nations ◽  
Financial Institutions ◽  
Security Council ◽  
United Nations Security Council ◽  
Nuclear Nonproliferation ◽  
Global Regulation ◽  
Nuclear Program ◽  
Global System ◽  
Financial Transactions

As the critical sanctions against Iran’s nuclear program demonstrate, the implementation of sanctions against nuclear proliferators has led to the creation of a global system of surveillance of the financial dealings of all states, banks, and individuals, fostered by United Nations Security Council resolutions—a new and unprecedented development. This chapter asks: Which actors have been in charge of designing and implementing sanctions against nuclear proliferators? Which legal technologies have they developed to regulate global financial transactions? Answering these questions generates a better understanding of key processes in global governance: the increasing role of the Security Council as a global legislator; the “financialization” of global regulation, with the increasing role played by international and US domestic financial institutions that were historically foreign to the field of nuclear nonproliferation; and the judicialization of the enforcement of sanctions, which is accompanied by the multiplication of secondary sanctions against sanctions-evaders.

scholarly journals Wider-community Segregation and the Effect of Neighbourhood Ethnic Diversity on Social Capital: An Investigation into Intra-Neighbourhood Trust in Great Britain and London

Sociology ◽  
2016 ◽  
Vol 51 (5) ◽  
pp. 1011-1033 ◽  
Author(s):  
James Laurence
Keyword(s):  
Social Capital ◽  
Great Britain ◽  
Ethnic Diversity ◽  
Linear Models ◽  
Critical Role ◽  
Hierarchical Linear Models ◽  
Negatively Associated ◽  
Community Segregation ◽  
Do So

Extensive research has demonstrated that neighbourhood ethnic diversity is negatively associated with intra-neighbourhood social capital. This study explores the role of segregation and integration in this relationship. To do so it applies three-level hierarchical linear models to two sets of data from across Great Britain and within London, and examines how segregation across the wider-community in which a neighbourhood is nested impacts trust amongst neighbours. This study replicates the increasingly ubiquitous finding that neighbourhood diversity is negatively associated with neighbour-trust. However, we demonstrate that this relationship is highly dependent on the level of segregation across the wider-community in which a neighbourhood is nested. Increasing neighbourhood diversity only negatively impacts neighbour-trust when nested in more segregated wider-communities. Individuals living in diverse neighbourhoods nested within integrated wider-communities experience no trust-penalty. These findings show that segregation plays a critical role in the neighbourhood diversity/trust relationship, and that its absence from the literature biases our understanding of how ethnic diversity affects social cohesion.

Mitigating Burnout Through Organizational Justice: Customer Support Workers’ Experiences of Customer Injustice and Emotional Labor

2021 ◽  
pp. 089331892110120
Author(s):  
Heewon Kim ◽  
Rebecca B. Leach
Keyword(s):  
Procedural Justice ◽  
Customer Service ◽  
Emotional Labor ◽  
Call Center ◽  
Service Industries ◽  
Interpersonal Justice ◽  
Negatively Associated ◽  
Customer Support ◽  
Decision Making Processes

Employee burnout is a critical organizational concern that can be prevalent among customer support workers whose day-to-day tasks inherently include emotional labor. This study examines emotional labor and burnout among call center workers in customer service industries, specifically focusing on the influences of injustices from customers and supervisors. The findings demonstrate that: (a) customer injustice was associated with an increase in emotional labor, which in turn exacerbated customer support workers’ disengagement and exhaustion; (b) interpersonal justice perceived in the interactions with supervisors was negatively associated with disengagement; and (c) procedural justice perceived in supervisors’ decision-making processes was also negatively associated with disengagement. The findings indicate the mitigating role of interpersonal and procedural justice in reducing burnout among customer support workers.

scholarly journals Information Asymmetry and Trust: A Framework for Studying Microfinance in India

2005 ◽  
Vol 30 (4) ◽  
pp. 77-86 ◽  
Author(s):  
M S Sriram
Keyword(s):  
Social Networks ◽  
Transaction Costs ◽  
Rural Areas ◽  
Financial Services ◽  
Imperfect Information ◽  
Informal Networks ◽  
The Poor ◽  
The People ◽  
Financial Transactions

In recent times, microfinance has emerged as a major innovation in the rural financial marketplace. Microfinance largely addresses the issue of access to financial services. In trying to understand the innovation of microfinance and how it has proved to be effective, the author looks at certain design features of microfinance. He first starts by identifying the need for financial service institutions which is basically to bridge the gap between the need for financial services across time, geographies, and risk profiles. In providing services that bridge this gap, formal institutions have limited access to authentic information both in terms of transaction history and expected behaviour and, therefore, resort to seeking excessive information thereby adding to the transaction costs. The innovation in microfinance has been largely to bridge this gap through a series of trustbased surrogates that take the transaction-related risks to the people who have the information — the community through measures of social collateral. In this paper, the author attempts to examine the trajectory of institutional intermediation in the rural areas, particularly with the poor and how it has evolved over a period of time. It identifies a systematic breach of trust as one of the major problems with the institutional interventions in the area of providing financial services to the poor and argues that microfinance uses trust as an effective mechanism to address one of the issues of imperfect information in financial transactions. The paper also distinguishes between the different models of microfinance and identifies which of these models use trust in a positivist frame and as a coercive mechanism. The specific objectives of the paper are to: Superimpose the role of trust in various types of exchanges and see how it impacts the effectiveness of repeated transactions. While greater access to information fosters trust and thus helps social networks to reduce transaction costs, there could be limits to which exchanges could solely depend on networks and trust. Look at the frontiers where mutual trust cannot work as a surrogate for lower appraisal costs. Use an example in the Canadian context and see how an entity that started on the basis of social networks and trust had to morph into using the techniques used by other formal nonneighbourhood institutions as it grew in size and went beyond a threshold. Using the Canadian example, the author argues that as the transactions get sophisticated, it is possible to achieve what informal networks have achieved through the creative use of information technology. While we find that the role of trust both in the positivist and the coercive frame does provide some interesting insights into how exchanges with the poor could be managed, there still could be breaches in the assumptions. This paper identifies the conditions under which the breaches could possibly happen and also speculates on the effect of such breaches.

scholarly journals Footprints of triggering in large area surveys of the nearby ISM and YSOs

2006 ◽  
Vol 2 (S237) ◽  
pp. 124-127
Author(s):  
L. Viktor Tóth ◽  
Zoltán T. Kiss
Keyword(s):  
Star Formation ◽  
Stellar Evolution ◽  
Large Area ◽  
Large Sample ◽  
Low Mass ◽  
Cold Core

AbstractOur goal is to evaluate the role of triggering effects on the star formation and early stellar evolution by presenting a statistically large sample of cloud and low-mass YSO data. We conducted large area surveys (ranging from 400 square-degree to 10800 square-degree) in optical, NIR and FIR. The distribution of the ISM and low-mass YSOs were surveyed. A relative excess was found statistically in the number of dense and cold core bearing clouds and low mass YSOs in the direction of the FIR loop shells indicating a possible excess in their formation.

The role of stimulus comparison in animal perceptual learning: Effects of a distractor placement

2018 ◽  
Vol 71 (12) ◽  
pp. 2488-2496 ◽  
Author(s):  
Sergio A Recio ◽  
Adela F Iliescu ◽  
Isabel de Brugada
Keyword(s):  
Perceptual Learning ◽  
Learning Process ◽  
Time Lapse ◽  
Animal Research ◽  
Learning Effects ◽  
Stimulus Comparison ◽  
Human Research ◽  
Short Time ◽  
Effect Experiment

Research on perceptual learning shows that the way stimuli are presented leads to different outcomes. The intermixed/blocked (I/B) effect is one of these outcomes, and different mechanisms have been proposed to explain it. In human research, it seems that comparison between stimuli is important, and the placement of a distractor between the pre-exposed stimuli interferes with the effect. Results from animal research are usually interpreted in different terms because the type of procedure normally used in animal perceptual learning does not favour comparison. In our experiments, we explore the possibility that a distractor placed between the to-be-discriminated stimuli may interfere with the perceptual learning process in rats. In Experiment 1, two flavoured solutions are presented in an I/B fashion, with a short time lapse between them to favour comparison, showing the typical I/B effect. In Experiment 2, we introduced a distractor in between the solutions, abolishing this effect. Experiment 3 further replicates this by comparing two intermixed groups with or without distractor. The results replicate the findings from human research, suggesting that comparison also plays an important role in animal perceptual learning.

scholarly journals In amygdala we trust: different contributions of the basolateral and central amygdala in learning whom to trust

2021 ◽  
Author(s):  
Ronald Sladky ◽  
Federica Riva ◽  
Lisa Rosenberger ◽  
Jack van Honk ◽  
Claus Lamm
Keyword(s):  
Basolateral Amygdala ◽  
Human Subjects ◽  
Brain Structures ◽  
Trust Game ◽  
Rodent Models ◽  
Mutual Trust ◽  
Central Amygdala ◽  
Interaction Partners ◽  
Improved Learning

Human societies are built on cooperation and mutual trust, but not everybody is trustworthy. Research on rodents suggests an essential role of the basolateral amygdala (BLA) in learning from social experiences (Hernandez-Lallement J et al., 2016), which was also confirmed in human subjects with selective bilateral BLA damage as they failed to adapt their trust behavior towards trustworthy vs. untrustworthy interaction partners (Rosenberger LA et al., 2019). However, neuroimaging in neurotypical populations did not consistently report involvement of the amygdala in trust behavior. This might be explained by the difficulty of differentiating between amygdala's structurally and functionally different subnuclei, i.e., the BLA and central amygdala (CeA), which have even antagonistic features particularly in trust behavior (van Honk J et al., 2013). Here, we used fMRI of the amygdala subnuclei of neurotypical adults (n=31f/31m) engaging in the repeated trust game. Our data show that both the BLA and the CeA play a role and indeed differentially: While the BLA was most active when obtaining feedback on whether invested trust had been reciprocated or not, the CeA was most active when subjects were preparing their next trust decision. In the latter phase, improved learning was associated with higher activation differences in response to untrustworthy vs. trustworthy trustees, in both BLA and CeA. Our data not only translate to rodent models and support our earlier findings in BLA-damaged subjects, but also show the specific contributions of other brain structures in the amygdala-centered network in learning whom to trust, and better not to trust.

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2016 ◽  
Vol 1 (2) ◽  
pp. 215
Author(s):  
Hatta Syamsuddin ◽  
Abdul Khaliq Hasan ◽  
Moh Muinudinillah
Keyword(s):  
Supervisory Board ◽  
Islamic Finance ◽  
Islamic Banking ◽  
Finance Industry ◽  
Islamic Jurisprudence ◽  
Banking Business ◽  
Rules And Principles ◽  
Muslim Communities ◽  
Financial Transactions

The emergence of Islamic banking was considered as a response to the desire of Muslim communities to disassociate from usury (riba-based) system. The development of time increasing the diversity of financial transactions, both in trading and banking business, which has no provisions in the old sources of Islamic jurisprudence. This dangerous phenomenon was the reason for the importance of a Sharia Supervisory Board to ensure all of the banking transactions comply with the rules and principles of sharia. This research focused on the role of National Sharia Board and his methodology in the fatwa. This research uses analytical descriptive methodology. The limitations of this research were about: how the National Sharia Board played their roles in Indonesia and how the method applied by the National Sharia Board in issuing a fatwa. The research found that: the National Sharia Board in Indonesia has played their roles, especially in developing Islamic finance industry, ensuring financial and banking transaction comply with the rules and principles of sharia, and providing awareness and guidance to the Muslim communities. The issuing of fatwa on financial transactions was the authority of the National Sharia Board. The National Sharia Board hold on procedures, specific steps, and certain agreed methodology in issuing the fatwa. Nevertheless, there still some fatwas that caused controversy in the Islamic community

The role of state ownership on earnings quality: evidence across public and private European firms

2018 ◽  
Vol 19 (2) ◽  
pp. 312-332 ◽  
Author(s):  
Cristina Gaio ◽  
Inês Pinto
Keyword(s):  
Earnings Management ◽  
Financial Reporting ◽  
Capital Markets ◽  
Capital Market ◽  
Earnings Quality ◽  
State Ownership ◽  
Public And Private ◽  
Content Type ◽  
Large Sample

Purpose The purpose of this paper is to examine the role of state ownership on financial reporting quality regarding the characteristics of conservatism and earnings management. Design/methodology/approach Using a large sample of public and private European firms during the period 2003-2010, the authors test the hypotheses following Ball and Shivakumar’s (2005) model for conservatism and the modified Jones (1991) model proposed by Dechow and Sloan (1995) for earnings management. To ensure that the results are robust, the authors conduct sensitivity analysis with regard to potential endogeneity and selection bias. Findings The authors find that state-owned firms are less conservative than non-state-owned firms, which is consistent with the idea that there is less need for accounting conservatism due to government protection. The authors also show that capital markets play an important role in shaping the relation between state ownership and earnings management. Among public firms, the authors find that state-owned firms have higher abnormal accruals and worse accruals quality than non-state-owned firms, which suggests that state-owned firms are not immune to capital market pressures. Research limitations/implications The study has two limitations. First, as state-owned and non-state-owned firms face quite different incentive structures, management behavior might be determined by factors that have yet to be identified. Second, prior research results suggest an inverted U-shape relation between ownership concentration and earnings management (Ding et al., 2007). It would be interesting to investigate the impact of different levels of state ownership on earnings quality. Practical implications As the paper investigates the role of state ownership on earnings quality using a sample of European firms, it brings new insights regarding the role of state ownership in accounting quality and firm performance. In addition, it considers the role of capital markets in the relation between the quality of financial reporting and ownership by considering a sample with both public and private firms. Originality/value The study contributes to the debate about state intervention in the corporate sector, by extending the knowledge of the effects of government ownership on earnings quality by using a large sample of European firms. Furthermore, the authors also introduce the effect of capital market forces on managers’ behavior in state-owned and non-state-owned companies by analyzing private and publicly listed firms.

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