scholarly journals Does governance matter? Country-level determinants of operational risk

2021 ◽  
Author(s):  
Edina Berlinger ◽  
Judit Lilla Keresztúri ◽  
Ágnes Lublóy ◽  
Zsuzsanna Tamásné Vőneki
Keyword(s):  
Explanatory Power ◽  
Extended Model ◽  
Technological Advancement ◽  
Explanatory Variables ◽  
The Past ◽  
Operational Risks ◽  
Country Level ◽  
Governance Indicators ◽  
Cross Country

Abstract The severity and frequency of operational loss events show high variability across the globe. In this paper, we first examine the extent to which the quality of country-level governance measured by the Worldwide Governance Indicators explains cross-country variation of operational losses. We use the comprehensive database of SAS OpRisk Global for the period of 2008–2019 covering 132 countries and 8,144 loss events with a total loss amount of almost 490 billion USD. Our findings indicate that the governance indicators lost their explanatory power over the past decades, which contradicts the academic consensus and calls for new explanatory variables. To find these variables, we hypothesize that the changes are driven by some important megatrends such as economic development and technological advancement, globalization, and sustainability. Accordingly, we propose an extended model where the number of mobile subscribers, the export to GDP ratio, and the poverty headcount ratio were significant for the frequency. For severity, only GDP is a significant and robust explanatory variable. Investors, regulators, and analysts should, therefore, concentrate on these factors if they wish to model, manage, or mitigate operational risks.

scholarly journals Public Acceptance of Driverless Buses in China: An Empirical Analysis Based on an Extended UTAUT Model

2020 ◽  
Vol 2020 ◽  
pp. 1-13
Author(s):  
Jian Chen ◽  
Rui Li ◽  
Mi Gan ◽  
Zhiyan Fu ◽  
Fatao Yuan
Keyword(s):  
Influencing Factors ◽  
Explanatory Power ◽  
Education Level ◽  
Public Acceptance ◽  
Equation Modeling ◽  
Extended Model ◽  
Moderating Effects ◽  
Utaut Model ◽  
The Impact

Driverless buses are expected to play a vital role in the future, and better public acceptance will provide a social foundation for its development. In this study, two new variables, personal innovativeness (PI) and perceived risk (PR), were incorporated into the integrated technology acceptance model (UTAUT, unified theory of acceptance and use of technology) to construct an extended model, which was then applied to explore the influencing factors for the public acceptance of driverless buses. The quality of this extended model was verified through survey data collected in Chongqing, China. The structural equation modeling (SEM) method was adopted to quantitatively describe the impact of each factor on acceptance intention (AI) as well as the mutual influence relationships between the factors. The moderating effects of demographic attributes (gender, age, and education level) on each factor in the model were also analyzed. The results showed that PI and PR are the most critical factors that affect the public’s acceptance intention; effort expectancy (EE), performance expectancy (PE), social influence (SI), and facilitating condition (FC) can also determine the acceptance intention to a certain extent; gender, age, and education level have exhibited significantly different moderating effects on the influencing factors. The explanatory power of the current research model for acceptance intention has reached 48%. This study has confirmed the applicability of the extended UTAUT model to the research of driverless bus acceptance and the research outcomes can serve as a reference basis for improving the service quality of driverless buses in China.

scholarly journals Regulation, Institutions, and Productivity: New Macroeconomic Evidence from OECD Countries

2016 ◽  
Vol 106 (5) ◽  
pp. 109-113 ◽  
Author(s):  
Balázs Égert
Keyword(s):  
Labour Market ◽  
Positive Impact ◽  
Product Market ◽  
Oecd Countries ◽  
Country Level ◽  
Cross Country ◽  
Innovation Intensity ◽  
The Impact ◽  
Trade And Investment

This paper seeks to understand the drivers of country-level multi-factor productivity (MFP) with a special emphasis on product and labour market policies and the quality of institutions. For a panel of OECD countries, we find that anticompetitive product market regulations reduce MFP levels and that higher innovation intensity and greater openness result in higher MFP. We also find that the impact of product market regulations on MFP may depend on the level of labour market regulations. Better institutions, a more business friendly environment and lower barriers to trade and investment amplify the positive impact of R&D spending on MFP. Finally, we also show that cross-country MFP variations can be explained to a considerable extent by cross-country variation in labour market regulations, barriers to trade and investment and institutions.

scholarly journals Human Capital and Economic Growth in Pakistan (Distinguished Lecture)

2005 ◽  
Vol 44 (4I) ◽  
pp. 455-478 ◽  
Author(s):  
Mohsin S. Khan
Keyword(s):  
Human Capital ◽  
High Growth ◽  
Physical Capital ◽  
Relative Growth ◽  
The Past ◽  
Education And Health ◽  
Cross Country ◽  
Virtuous Cycle

Pakistan’s economy has grown faster on average than many other low- and middleincome countries over the past two decades. But several countries in Southeast Asia have fared even better. This paper focuses on factors that explain Pakistan’s relative growth performance. In addition to more traditional factors believed to determine growth, this paper looks particularly at the role of differences in the quality of human capital. The cross-country empirical results suggest that accumulation of physical capital and improvements in the quality of institutions have the largest pay-offs in terms of achieving higher growth, but that better education and health care also have a significant impact. Investment in these areas will increase the possibility of Pakistan entering a virtuous cycle of high growth and improved living conditions for the population.

Linking sustainability andnon-financial reporting directive 2014/95/EU throughisomorphism lens

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Cristina Alexandrina Stefanescu
Keyword(s):  
Financial Reporting ◽  
Explanatory Power ◽  
Principal Component ◽  
Sustainability Reporting ◽  
Well Being ◽  
The European Union ◽  
Content Type ◽  
Explanatory Variables ◽  
Country Level ◽  
Harmonization Process

Purpose This study aims to explore the connection between sustainability and non-financial reporting (NFR) settled by the Directive 2014/95/EU, aiming to shed light on how institutional isomorphic pressures (mimetic, coercive and normative) are expressed in terms of sustainability issues influenced its enactment at the European Union (EU) level. Design/methodology/approach Empirically, the contribution of this study relied on the complexity of the research design that uses the same statistical methods and techniques (e.g. principal component analysis, correlation and regression analysis) within two stages of analysis (main and robustness) to increase the trustworthy of the results reached. Findings The results reveal that countries with sound sustainable management pillars (economic, environmental and social) and development goals promoting economic prosperity, environmental protection and societal well-being (prosperity, planet and people) are more likely to bring active support in enhancing NFR by regulating its framework. Research limitations/implications The empirical nature of the research left space for some limitations, as long as it relied on country-level data, thus being quite challenging to gauge the commitment to harmonization with the new Directive. Moreover, the model’s explanatory power remains questionable, as the explanatory variables might be measured differently in the model specifications. Practical implications The study addresses academia/regulators/practitioners by ascertaining their potential to better understand/promote/apply the new Directive. Thus, each could support the steps toward standardized sustainability reporting by keeping up to date with the latest improvements/addressing cross-country inconsistencies in the transposition/managing future implementation in a more effective and accountable way. Originality/value This paper approaches the harmonization process of NFR across Europe in connection with sustainability issues, grounding on institutional isomorphism. Thus, it fills an existing literature gap, as research studies approaching the new Directive from the institutional theory’s perspective are still scarce and focused on particular countries.

Immunoferritin localization of intracellular antigens in positively stained frozen sections

1978 ◽  
Vol 36 (2) ◽  
pp. 168-169
Author(s):  
K. T. Tokuyasu
Keyword(s):  
Surface Tension ◽  
Water Surface ◽  
Thin Layers ◽  
The Other ◽  
Positive Staining ◽  
Frozen Sections ◽  
The Past ◽  
Ultrathin Frozen Sections ◽  
Definition Of

During the past investigations of immunoferritin localization of intracellular antigens in ultrathin frozen sections, we found that the degree of negative staining required to delineate u1trastructural details was often too dense for the recognition of ferritin particles. The quality of positive staining of ultrathin frozen sections, on the other hand, has generally been far inferior to that attainable in conventional plastic embedded sections, particularly in the definition of membranes. As we discussed before, a main cause of this difficulty seemed to be the vulnerability of frozen sections to the damaging effects of air-water surface tension at the time of drying of the sections.Indeed, we found that the quality of positive staining is greatly improved when positively stained frozen sections are protected against the effects of surface tension by embedding them in thin layers of mechanically stable materials at the time of drying (unpublished).

Trust in the Police: Cross-country Comparisons

2012 ◽  
pp. 24-47
Author(s):  
V. Gimpelson ◽  
G. Monusova
Keyword(s):  
Public Opinion ◽  
Public Attitudes ◽  
Crime Rates ◽  
Authoritarian Regimes ◽  
Data Sets ◽  
The Public ◽  
Positive Attitudes ◽  
Cross Country ◽  
Police Activity

Using different cross-country data sets and simple econometric techniques we study public attitudes towards the police. More positive attitudes are more likely to emerge in the countries that have better functioning democratic institutions, less prone to corruption but enjoy more transparent and accountable police activity. This has a stronger impact on the public opinion (trust and attitudes) than objective crime rates or density of policemen. Citizens tend to trust more in those (policemen) with whom they share common values and can have some control over. The latter is a function of democracy. In authoritarian countries — “police states” — this tendency may not work directly. When we move from semi-authoritarian countries to openly authoritarian ones the trust in the police measured by surveys can also rise. As a result, the trust appears to be U-shaped along the quality of government axis. This phenomenon can be explained with two simple facts. First, publicly spread information concerning police activity in authoritarian countries is strongly controlled; second, the police itself is better controlled by authoritarian regimes which are afraid of dangerous (for them) erosion of this institution.

Engineers or Lawyers? Institutions and Demand for Higher Education

2012 ◽  
pp. 30-51 ◽  
Author(s):  
T. Natkhov ◽  
L. Polishchuk
Keyword(s):  
Higher Education ◽  
Public Administration ◽  
Rule Of Law ◽  
Transmission Channel ◽  
Demand For Education ◽  
Fields Of Study ◽  
Quality Of Institutions ◽  
Cross Country ◽  
Rules Of The Game

Law and public administration schools in Russia vastly exceed in their popularity sciences and engineering. We relate such lopsided demand for higher education to the quality of institutions setting “rules of the game” in economy and society. Cross-country and Russian interregional data indicate the quality of institutions (rule of law, protection of property rights etc.) is negatively associated with the demand for education in law, and positively — in sciences and engineering. More gifted younger people are particularly sensitive to the quality of institutions in choosing their fields of study, and such selection is an important transmission channel between institutions and economic growth.

Exercise Capacity in Chronic Heart Failure

2012 ◽  
Vol 9 (1) ◽  
pp. 57-60 ◽  
Author(s):  
Gina G Mentzer ◽  
Alex J Auseon
Keyword(s):  
Quality Of Life ◽  
Heart Failure ◽  
Exercise Training ◽  
Exercise Capacity ◽  
Positive Impact ◽  
Pharmacologic Therapy ◽  
The Past ◽  
Diagnosis And Prognosis ◽  
Future Therapy

Heart failure (HF) affects more than 5 million people and has an increasing incidence and cost burden. Patients note symptoms of dyspnea and fatigue that result in a decreased quality of life, which has not drastically improved over the past decades despite advances in therapies. The assessment of exercise capacity can provide information regarding patient diagnosis and prognosis, while doubling as a potential future therapy. clinically, there is acceptance that exercise is safe in hf and can have a positive impact on morbidity and quality of life, although evidence for improvement in mortality is still lacking. specific prescriptions for exercise training have not been developed because many variables and confounding factors have prevented research trials from demonstrating an ideal regimen. Physicians are becoming more aware of the indices and goals for hf patients in exercise testing and therapy to provide comprehensive cardiac care. it is further postulated that a combination of exercise training and pharmacologic therapy may eventually provide the most benefits to those suffering from hf.

Bioethics In Neurospinal Patient Care

2018 ◽  
Vol 1 (2) ◽  
pp. 1
Author(s):  
Andi Asadul Islam
Keyword(s):  
Time Frame ◽  
Hippocratic Oath ◽  
Moral Vision ◽  
Human Identity ◽  
The Past ◽  
Harvey Cushing ◽  
Sharp Focus ◽  
Realistic Approach ◽  
Cord Injury

Neurosurgery is among the newest of surgical disciplines, appearing in its modern incarnation at the dawn of twentieth century with the work of Harvey Cushing and contemporaries. Neurosurgical ethics involves challenges of manipulating anatomical locus of human identity and concerns of surgeons and patients who find themselves bound together in that venture.In recent years, neurosurgery ethics has taken on greater relevance as changes in society and technology have brought novel questions into sharp focus. Change of expanded armamentarium of techniques for interfacing with the human brain and spine— demand that we use philosophical reasoning to assess merits of technical innovations.Bioethics can be defined as systematic study of moral challenges in medicine, including moral vision, decisions, conduct, and policies related to medicine. Every surgeon should still take the Hippocratic Oath seriously and consider it a basic guide to follow good medical ethics in medical practice. It is simple and embodies three of the four modern bioethics principles – Respecting autonomy, beneficence, nonmaleficence, and justice.Spinal cord injury (SCI) is a devastating condition often affecting young and healthy individuals around the world. Currently, scientists are pressured on many fronts to develop an all-encompassing “cure” for paralysis. While scientific understanding of central nervous system (CNS) regeneration has advanced greatly in the past years, there are still many unknowns with regard to inducing successful regeneration. A more realistic approach is required if we are interested in improving the quality of life of a large proportion of the paralyzed population in a more expedient time frame.

Menopausal hormone therapy and uterine cancer: the acceptability of the tandem

GYNECOLOGY ◽  
2018 ◽  
Vol 20 (6) ◽  
pp. 42-47
Author(s):  
O V Yakushevskaya ◽  
S V Yureneva ◽  
A E Protasova ◽  
G N Khabas ◽  
M R Dumanovskaya
Keyword(s):  
Hormone Therapy ◽  
Uterine Cancer ◽  
Menopausal Hormone Therapy ◽  
Medical Rehabilitation ◽  
Cytostatic Treatment ◽  
Systematic Analysis ◽  
Strict Adherence ◽  
Patient Profile ◽  
The Past

The aim of the work is to conduct a systematic analysis of the available research results on the possibility of using menopausal hormone therapy (MHT) in patients who successfully completed the treatment of endometrial cancer (EC). Materials and methods. The review includes data from foreign articles published in PubMed and Medline, and domestic works published on elibrary.ru over the past 40 years. Results. The results obtained allow us to consider MHT as an independent method of medical rehabilitation for women who have undergone EC. A clear patient profile should be established, allowing the use of this method, with strict adherence to health monitoring. Conclusion Patients who have successfully completed the treatment of EC require the creation of special rehabilitation conditions in the interests of maintaining health and quality of life and should be under the close attention of the doctor. Argumented approaches to the appointment of MHT in such patients will avoid complications associated with estrogen deficiency after surgery, radiation with or without systemic (cytostatic) treatment methods.

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