Mortgage Brokers and the Effectiveness of Regulatory Oversights

This paper studies the responses among different types of mortgage brokers to occupational licensing regulations. By explicitly accounting for heterogeneities between sole and corporate brokers, we find evidence that sole brokers respond to financial regulatory oversight by applying a more stringent screening process in conducting brokerage activities, hence achieving better loan performances. Specifically, loans originated through sole brokers exhibit higher quality on an array of credit-relevant characteristics, including those reported and unreported to future investors. By contrast, we find no such regulatory effect on corporate brokers who tend to rely extensively on reported characteristics that are critical to the subsequent loan securitization at the expense of unreported information despite the latter indicating potential risks. Hence, the agency problem among sole brokers can be mitigated by the consolidated financial requirement for occupational licensing. However, such provision is ineffective in governing corporate brokers. Additionally, welfare gains associated with the occupational licensing regulation are achieved at the expense of prospective borrowers paying a higher loan price and having reduced credit access. Stricter licensing regulations may induce welfare loss related to credit rationing as reasonable loan applications are not funded, including those with potentially lower default risk.This paper was accepted by Kay Giesecke, finance.

ROLE OF VENDOR RESPONSIVENESS ON PROCUREMENT PERFORMANCE AMONG GOVERNMENT MINISTRIES IN KENYA

Purpose: The main objective of the study was to examine the role of vendor responsiveness on procurement performance among government ministries in Kenya.Methodology: Descriptive research design was adopted. The study preferred this method because it allowed an in-depth study of the subject. The study used a sample size of 156 procurement staff. Census will be used in this study. Questionnaires were used to collect data. The questionnaires were tested for validity and reliability using 10% of the total sample respondents. Data was analysed through descriptive statistical methods such as means, standard deviation, frequencies and percentage. Inferential analyses were used in relation to correlation analysis and regression analysis to test the relationship between the four explanatory variables and the explained variable. Multiple regression models were used to show the relationship between the predicted variable and the predictor variables.Results: The findings of the study indicated that delivery time responsiveness, technical requirement responsiveness, financial requirement responsiveness and specifications requirement responsiveness have a positive relationship with procurement performance among government ministries.Conclusion: Based on the study findings, the study concludes that performance of government ministries can be improved by delivery time requirement responsiveness, technical requirement responsiveness, financial requirement responsiveness and specifications requirement responsiveness.Policy recommendation: The study recommended that institutions should embrace vendor responsiveness measures so as to improve procurement performance and further researches should to be carried out in other institutions to find out if the same results can be obtained.

THE RUKUN WARGA-BASED 3RS AND WASTE BANK AS SUSTAINABLE SOLID WASTE MANAGEMENT STRATEGY

Communities store a potential power to support overall performance of urban solid waste management through various creative and innovative arrangements. In Indonesia, the Rukun Warga (RW) is the lowest hierarchy of community organizational system which can implement creative and innovative arrangements to support solid waste management activities with less financial requirement. This study observed RW-based activity on fifty RWs with 412 respondents in terms of 3Rs, household waste separation, waste recycling business and waste bank system undertaken by the community for the sake of cleanliness and income-earning. The result shows that the correlation between level of the activity of the RWs communities in undertaking 3Rs, recycling business and waste bank, and the perceived cleanliness by the community members was validated. It is also showed positive results such as improved urban environment and provided strong push-factor influencing the community members to join the movement and the activities towards sustainable solid waste management are not always cost-intensive activities but a socially bounded engagement would also workable.

THE RUKUN WARGA-BASED 3RS AND WASTE BANK AS SUSTAINABLE SOLID WASTE MANAGEMENT STRATEGY

Communities store a potential power to support overall performance of urban solid waste management through various creative and innovative arrangements. In Indonesia, the Rukun Warga (RW) is the lowest hierarchy of community organizational system which can implement creative and innovative arrangements to support solid waste management activities with less financial requirement. This study observed RW-based activity on fifty RWs with 412 respondents in terms of 3Rs, household waste separation, waste recycling business and waste bank system undertaken by the community for the sake of cleanliness and income-earning. The result shows that the correlation between level of the activity of the RWs communities in undertaking 3Rs, recycling business and waste bank, and the perceived cleanliness by the community members was validated. It is also showed positive results such as improved urban environment and provided strong push-factor influencing the community members to join the movement and the activities towards sustainable solid waste management are not always cost-intensive activities but a socially bounded engagement would also workable.

Satisfaction of Saudi Nationals and Expats towards Loans by Banks in Eastern Province, Saudi Arabia

<p>The success of any business depends upon their effective and continuous operation which in-turn depends on their efficiency in meeting their financial requirement as finance is the life-blood of any business. At a globalized era in which we live, the business firms and individuals approach banks and financial institutions to avail loans to successfully operate in the competitive field. Marketing is a total system of business activities to plan, price, promote and distribute needs and satisfy customers to target markets in order to achieve organizational objectives. In this background of growing markets for financial services, increasing competition and improving the level of financial awareness and sophistication by the end users, both personal and corporate, the banks have to develop their marketing skill to maintain their market share and profitability levels. The changing face of banking industry has brought in new challenges and newer responsibilities to the bankers in Saudi Arabia. They have to function with new vigor and vitality in the significantly competitive banking business. Any failure on their part in keeping the eternal vigil is fraught with disastrous and devastating consequences.<strong></strong></p>

Implementing the Gantt chart in Europe and Britain: the contributions of Wallace Clark

Purpose The purpose of this paper is to trace the European and British activities of Wallace Clark and his consulting firm with public sector agencies and private firms implement Henry L. Gantt’s chart concept. Design/methodology/approach Archival records and secondary sources in English and French. Findings Developed to meet the shipbuilding and use needs for the Great War (World War I), the Gantt chart was disseminated through the work of Wallace Clark during the 1930s in numerous public sector and private organizations in 12 nations. The Gantt concept was applied in a variety of industries and firms using batch, continuous processing and/or sub-assembly lines in mass production. Traditional scientific management techniques were expanded for general management, such as financial requirement through budgetary control. Clark and his consulting firm were responsible for implementing a managerial tool, the Gantt chart, in an international setting. Research limitations/implications Some firms with which Clark consulted could not be identified because the original records of the Wallace Clark Company were disposed of by New York University archival authorities. Industries were identified from the writings of Pearl Clark and Wallace Clark, and some private or public organizations were discerned from archival work and the research of French and British scholars. Originality/value This is the first study of the diffusion of a managerial tool, developed in America by Henry L. Gantt, into Europe and Britain through the contributions of Wallace Clark.

Strategic Steps in the Sheep and Goat Branches

The balance of the sheep and goat branches can be summarised as follows:If the increase in stock size, specific yields, genetic improvement and modernisation are not realised, several thousand shepherds will lose their jobs and possibilities to work, and their families will lose their only source of livelihood.Several hundred hectares of grassland will become weedy and the costs of crop protection will increase in these regions. Pollen pollution, the number of allergic ailments and medical costs will increase, mentioning only the main disadvantages. Its financial requirement is nearly equal to the one required for development without any essential compensation or production.In order to develop a competitive branch, a subsidisation of 10-20 billion HUF is needed until the accession of Hungary to the EU, depending on the scale and progressivity of development. The subsidisation and realisation of the strategic steps would result in:– the establishment of a registered livestock with 1.5 million ewes, which would ensure better market position for the branch in the EU (5%),– the establishment of a competitive and marketable branch with a production value of 15-25 billion HUF, calculated using the present price level (after accession, the branch would be self-operating and profitable, with the 6-8 billion HUF/year normative subsidisation by the EU),– the establishment of a genetic potential which would ensure our participation in profitable international breeding animal market, which provides extra profit,– the establishment of a sheep husbandry with better genetic potential and phenotypic performance, producing a quality of international level,– the maintenance of the workplace of more than 10.000 people (saving 3-5 billion HUF/year of the budget),– the maintenance of the condition of growing areas of grasslands with their advantages (crop protection and public health) whose financial effect is considerable.

How "Regular" (and What?) Is the "Regular Source of Medical Care?"

The paper by Starfield et al.1 presents useful and interesting data about medical care utilization in a sample of Baltimore children, but it fails to address itself to the question posed in its title. The paper examines several important attributes (type of provider, accessibility, and financial requirement) of the patients' regular sources of care. It also includes data about the regularity with which those sources are actually used. However, there are no data or tables which specifically show the relationship between regularity of use and the other attributes studies.