scholarly journals Mortality/Longevity Risk-Minimization with or without Securitization

Mathematics ◽  
2021 ◽  
Vol 9 (14) ◽  
pp. 1629
Author(s):  
Tahir Choulli ◽  
Catherine Daveloose ◽  
Michèle Vanmaele
Keyword(s):  
Public Information ◽  
Market Model ◽  
Financial Assets ◽  
Time Of Death ◽  
Risk Minimization ◽  
Martingale Representation ◽  
The Public ◽  
Death Time ◽  
Longevity Bonds ◽  
Flow Of Information

This paper addresses the risk-minimization problem, with and without mortality securitization, à la Föllmer–Sondermann for a large class of equity-linked mortality contracts when no model for the death time is specified. This framework includes situations in which the correlation between the market model and the time of death is arbitrary general, and hence leads to the case of a market model where there are two levels of information—the public information, which is generated by the financial assets, and a larger flow of information that contains additional knowledge about the death time of an insured. By enlarging the filtration, the death uncertainty and its entailed risk are fully considered without any mathematical restriction. Our key tool lies in our optional martingale representation, which states that any martingale in the large filtration stopped at the death time can be decomposed into precise orthogonal local martingales. This allows us to derive the dynamics of the value processes of the mortality/longevity securities used for the securitization, and to decompose any mortality/longevity liability into the sum of orthogonal risks by means of a risk basis. The first main contribution of this paper resides in quantifying, as explicitly as possible, the effect of mortality on the risk-minimizing strategy by determining the optimal strategy in the enlarged filtration in terms of strategies in the smaller filtration. Our second main contribution consists of finding risk-minimizing strategies with insurance securitization by investing in stocks and one (or more) mortality/longevity derivatives such as longevity bonds. This generalizes the existing literature on risk-minimization using mortality securitization in many directions.

scholarly journals The Impact of Web Site Campaigning on Traditional News Media and Public Information Processing

2003 ◽  
Vol 80 (3) ◽  
pp. 528-547 ◽  
Author(s):  
Gyotae Ku ◽  
Lynda Lee Kaid ◽  
Michael Pfau
Keyword(s):  
News Media ◽  
Agenda Setting ◽  
Web Site ◽  
Public Information ◽  
Election Campaign ◽  
The Public ◽  
Intermedia Agenda Setting ◽  
Setting Approach ◽  
The Impact ◽  
Flow Of Information

This study examined the impact of Web site campaigning on traditional news media agendas and on public opinion during the 2000presidential election campaign. Based on an intermedia agenda-setting approach, this study demonstrated the direction of influence among three media in terms of the flow of information. An agenda-setting impact of Web site campaigning on the public was also identified.

scholarly journals The Public Accounts and the Education Sector in Portugal: assumption of the legal economy, efficiency and effectiveness

2003 ◽  
Vol 11 ◽  
pp. 42
Author(s):  
Prof. Doutor J. J. Marques de Almeida ◽  
Mestre Maria da Conceição De Costa Marques
Keyword(s):  
Public Information ◽  
Cost Accounting ◽  
Education Sector ◽  
Decision Makers ◽  
Management Tool ◽  
Financial Assets ◽  
The Public ◽  
Management Culture ◽  
Efficiency And Effectiveness ◽  
The Cost

The National Accounting Plan for the Education Sector (POC - Education) is a Sector Plan for education, which follows on from the approval of the Journal of Public Accounts (OPAP), Decree-Law No. 232/97 of 3 September, the model it is based. With the approval of the POC - Education will create conditions for integrating the accounting, inventory and cost accounting in a modern public as an instrument to support decision-makers and other users of information, to remedy the deficiencies of accounting information previously experienced. As aspects inovadoresdeste plan for the sector, we highlight the cost accounting and the consolidation of accounts. The cost accounting is a mandatory system as an important management tool for analysis and cost control to education, but also the income and results of operations. With the consolidation of accounts is intended to establish a political and management culture group at the same time seeking to facilitate the comparability in time and space, and is also a factor of transparency of public information. Not expected fiscal consolidation, applying the rules only to the consolidation of financial assets.

From the Public Information Committee--Getting Health Psychologists in the News, Part II

1999 ◽  
Author(s):  
Dawn K. Wilson ◽  
◽  
Jessie Gruman
Keyword(s):  
Public Information ◽  
The Public ◽  
Information Committee

To Show, But Not to Disclose. The Willingness of Polish Political Parties to Disclose Information On their Structures

2018 ◽  
Vol 6 (1) ◽  
pp. 5-21
Author(s):  
Ewa Skrabacz
Keyword(s):  
Political Parties ◽  
Public Information ◽  
Organizational Structures ◽  
Information Bulletin ◽  
The Public ◽  
Maximum Value ◽  
Election Manifestos ◽  
Internal Structures ◽  
Central Statistical ◽  
Central Statistical Office

AbstractConstituting the key element of a democratic system, political parties are among entities obliged by the Polish legislator to comply with the principle of disclosure by providing public information. The main objective of this paper is to determine the level of Polish political parties’ disclosure, understood here as their willingness to disclose information on their own structures. It seems that the practice of disclosing such basic organizational data may constitute a specific measure of Polish political parties’ respect for the idea of disclosure. The subject matter of the conducted research was particular parties’ sites in the Public Information Bulletin as well as their official websites. An attempt was made to acquire data concerning party structures by way of direct contact with particular parties’ organizational units – questionnaires were sent to both central and regional/district organizational units. In order to acquire a wider perspective, the research also included data provided by the Central Statistical Office concerning political parties’ organizational structures and election manifestos. The conducted analysis was summarized in the form of a ranking of the examined political parties based on a proposed political party disclosure index. This attempt to measure disclosure on the basis of data on internal structures provided by parties themselves is of a preliminary character which, nevertheless, makes it possible to capture the general properties of the phenomenon under analysis. Among the examined parties, it is PSL, SLD, and PO that, to an acceptable degree, follow the principle of disclosure in the analysed scope (indexes at the level of 60%-80% of the maximum value). Four other parties, i.e. N, Wolność, Razem, and Kukiz’15, are on the edge of the zone making it possible to regard their disclosure as sufficient (indexes at the level of around 50% of the maximum value). In the case of PiS, whose index does not reach 20% of the maximum value, it should be concluded that this party implements the principle of disclosure at a minimum level. The ranking did not show relationships between parties’ willingness towards providing information and their sizes or positions on the political scene (parliamentary parties vs. extra-parliamentary parties).

KUALITAS LAYANAN KETERBUKAAN INFORMASI PUBLIK BERBASIS WEBPORTAL PADA PEJABAT PENGELOLA INFORMASI DAN DOKUMENTASI (PPID) KABUPATEN SLEMAN TAHUN 2019

2020 ◽  
Vol 3 (1) ◽  
pp. 55-66
Author(s):  
Coni Wanprala ◽  
Isnaini Muallidin ◽  
Dewi Sekar Kencono
Keyword(s):  
Information Disclosure ◽  
Central Government ◽  
Public Information ◽  
Descriptive Study ◽  
Field Observations ◽  
Public Agencies ◽  
The Public ◽  
Qualitative Descriptive ◽  
The Government ◽  
Data Collection Technique

At present the development of technology and information has reached a very rapid level. Technology and information are used as a service media in the government environment which is also known as e-Government, one of which is the service of public information disclosure. The central government through Law No. 14 of 2008 concerning Openness of Public Information, encourages all Public Agencies including the Sleman Regency Government to make transparency in the administration of the state by utilizing information technology. This research is a qualitative descriptive study which aims to describe the reality that occurs. The object of research in this study is the official website of the Information and Documentation Management Officer (PPID) of Sleman Regency with the domain https://ppid.slemankab.go.id then the Sleman Regency Communication and Informatics Office as the organizer of the public information disclosure program. The data collection technique itself is carried out by means of interviews, documentation studies, and field observations (observations). After collecting and presenting data, then the data will be reduced first then analyzed and concluded. From the results of the study, in general the researchers concluded that the Sleman Regency PPID website had reached the level of qualification to become a quality website, however there were still some improvements and evaluations that had to be done by the relevant agencies in order to be better, namely (i) the website was still being assessed as a one-way service (ii) There are still many OPDs that are not ready to implement PPID (iii) data and information are still not updated (iv) lack of responsiveness of services in requests for information.

Public Administration at the Movies

Public Voices ◽  
2017 ◽  
Vol 4 (2) ◽  
pp. 3 ◽  
Author(s):  
Lyn Holley ◽  
Rebecca K Lutte
Keyword(s):  
Public Administration ◽  
Public Perception ◽  
Public Information ◽  
Public Employees ◽  
Paper Briefly ◽  
Negative Image ◽  
The Public ◽  
Popular Films ◽  
Positive Message ◽  
American Society

This paper briefly summarizes evidence for the influence of popular films on public perception of government and on public policy.  Two films examined through the lens of public administration, and the lessons they teach about public administration, are exposed.  One film, Ghostbusters conveys a strongly negative image, and the other, A Thousand Heroes a strongly positive message.  Only Ghostbusters was and remains popular and profitable.  Public information efforts by government and the public administration community have been limited or reactive.  The authors argue for the increased support for public information initiatives such as those of the Public Employees Roundtable (PER) and  the American Society of Public Administration (ASPA).

scholarly journals DIGITALISASI ARSIP FOTO UNIVERSITAS DIPONEGORO SEBAGAI LANDASAN IMPLEMENTASI KEBIJAKAN KETERBUKAAN INFORMASI PUBLIK

HUMANIKA ◽  
2015 ◽  
Vol 22 (2) ◽  
pp. 78
Author(s):  
Tri Handayani ◽  
Amin Taufiq Kurniawan
Keyword(s):  
Public Information ◽  
Academic Institutions ◽  
University Policy ◽  
The Public ◽  
Digital Photo ◽  
The University

This paper focuses on digitalization archival photo Diponegoro University, as the basis for Diponegoro University towards the era of public information openness. This basis can be realized among others bythe publication digital photo archives of the three traditional missions of academic institutions (tridharma perguruan tinggi)  and  digital photo archive of administrative activity of Head of the University of Diponegoro through the website of Khazanah Arsip Foto Undip (Collection of Undip Photo Archive). As a conclusion, Khazanah Arsip Foto Undip were digitalized and uploaded to the Undip website were information to the public about the achievements of the University of Diponegoro in organizing the three traditional missions of academic institutions activities, and the information to the public about the achievements of the Head of Diponegoro University policy.

News and Idiosyncratic Volatility: The Public Information Processing Hypothesis*

2020 ◽  
Author(s):  
Robert F Engle ◽  
Martin Klint Hansen ◽  
Ahmet K Karagozoglu ◽  
Asger Lunde
Keyword(s):  
Information Processing ◽  
Public Information ◽  
Selection Procedure ◽  
Autoregressive Process ◽  
Return Volatility ◽  
Market Outcomes ◽  
The Public ◽  
Additional Information ◽  
Financial News ◽  
The Impact

Abstract Motivated by the recent availability of extensive electronic news databases and advent of new empirical methods, there has been renewed interest in investigating the impact of financial news on market outcomes for individual stocks. We develop the information processing hypothesis of return volatility to investigate the relation between firm-specific news and volatility. We propose a novel dynamic econometric specification and test it using time series regressions employing a machine learning model selection procedure. Our empirical results are based on a comprehensive dataset comprised of more than 3 million news items for a sample of 28 large U.S. companies. Our proposed econometric specification for firm-specific return volatility is a simple mixture model with two components: public information and private processing of public information. The public information processing component is defined by the contemporaneous relation with public information and volatility, while the private processing of public information component is specified as a general autoregressive process corresponding to the sequential price discovery mechanism of investors as additional information, previously not publicly available, is generated and incorporated into prices. Our results show that changes in return volatility are related to public information arrival and that including indicators of public information arrival explains on average 26% (9–65%) of changes in firm-specific return volatility.

scholarly journals Council Press Offices as Sources of Political Information: Between Journalism for Accountability and Propaganda

2021 ◽  
Vol 13 (2) ◽  
pp. 34
Author(s):  
Vanessa Rodríguez-Breijo ◽  
Núria Simelio ◽  
Pedro Molina-Rodríguez-Navas
Keyword(s):  
Local Government ◽  
Focus Groups ◽  
Citizen Participation ◽  
Public Information ◽  
Public Debate ◽  
Qualitative Approach ◽  
Political Information ◽  
Political Leaders ◽  
The Public ◽  
Selection Of

This study uses a qualitative approach to examine what political and technical leaders of municipalities understand transparency and public information to mean, and what role they believe the different subjects involved (government, opposition, and the public) should have. The websites of 605 Spanish councils with more than 100,000 inhabitants were analysed and three focus groups were held with political and technical leaders from a selection of sample councils. The results show that the technical and political leaders of the councils do not have a clear awareness of their function of management accountability or of the need to apply journalistic criteria to the information they publish, defending with nuances the use of propaganda criteria to focus on the actions of the local government, its information, the lack of space dedicated to public debate and the opposition’s actions. In relation to accountability and citizen participation, they have a negative view of citizens, who they describe as being disengaged. However, they emphasize that internally it is essential to continue improving in terms of the culture of transparency and the public information they provide citizens.

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