Akita University of Art: AUA Repository / 秋田公立美術大学リポジトリ
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Collateralization, bank loan rates and monitoring
No full textWe show that collateral plays an important role in the design of debt contracts, the provision of credit, and the incentives of lenders to monitor borrowers. Using a unique data set from a large bank containing timely assessments of collateral values, we find that the bank responded to a legal reform that exogenously reduced collateral values by increasing interest rates, tightening credit limits, and reducing the intensity of its monitoring of borrowers and collateral, spurring borrower delinquency on outstanding claims. We thus explain why banks are senior lenders and quantify the value of claimant priority
A study on the visual pyramid and its cross-section of L. B. Alberti's On Painting (1)
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The role of entries and market selection for the dynamics of regional diversity and specialization
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Competition in the Dutch electricity wholesale market:An empirical analysis over 2006-2011
No full textWe assess the development of competition in the Dutch electricity wholesale market over 2006-2011. In this period domestic generation capacity, both centralized and decentralized, as well as the cross-border transmission capacity increased. Using hourly plant-level data of centralized units and engineering-costs estimates, we estimate the weighted average Lerner index. During super peak hours, the annual average value of this index decreased from 0.23 in 2006 to 0.03 in 2011, indicating more competition. We find indications that the increase in competition can be attributed to the extension of cross-border connections, a higher price elasticity of net demand and more Bertrand-like competition. Enhancing the role of decentralized generation as well as fostering integration of markets seem to be effective measures to promote competition.We assess the development of competition in the Dutch electricity wholesale market over 2006-2011. In this period domestic generation capacity, both centralized and decentralized, as well as the cross-border transmission capacity increased. Using hourly plant-level data of centralized units and engineering-costs estimates, we estimate the weighted average Lerner index. During super peak hours, the annual average value of this index decreased from 0.23 in 2006 to 0.03 in 2011, indicating more competition. We find indications that the increase in competition can be attributed to the extension of cross-border connections, a higher price elasticity of net demand and more Bertrand-like competition. Enhancing the role of decentralized generation as well as fostering integration of markets seem to be effective measures to promote competition
On the exhibition "A Survey of Japanese Art" held at the Seattle Museum of Art in 1949
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Aan de rand van Hanze en Holland. De positie van Westerlauwers Friesland in de laatmiddeleeuwse handelsnetwerken rond de Noordzee
No full textAdvances in customer value management
No full textOne of the key developments in marketing and management practice in the last decade has been the growth of customer relationship management (CRM). Many firms have invested in large customer databases to understand, monitor and influence customer behavior. “CRM is defined as the practice of analyzing and utilizing marketing databases and leveraging communication technologies to determine corporate practices and methods that will maximize the lifetime value of each individual customer”. One of the critical aspects in this definition is the role of customer value, which is the economic value of the customer relationship for the firm. Therefore, other researchers also use the term “customer value management” (CVM), which: entails the optimization of the value of a company’s customer base. CVM focuses on the analysis of individual data on prospects and customers. The resulting information is used to acquire and retain customers, and to drive customer behavior with the developed marketing strategies in such a way that the value of all current and future customers is optimized. CVM conceptually has its roots within relationship marketing. Relationship marketing has mainly focused on measuring constructs, such as commitment and trust, which create successful relationships with customers (R.M. Morgan and Hunt 1994). Customer data are not essential within relationship marketing
The regional application of the global entrepreneurship and development index (GEDI):The case of Spain
No full textBased on the Global Entrepreneurship and Development Index methodology, this paper constructs a Regional Entrepreneurship Index for Spain that captures the contextual feature of entrepreneurship across regions. The entrepreneurial disparities among the Spanish regions are analyzed in the sub-index and in the pillar levels. For an optimum configuration of a public policy to improve entrepreneurship we suggest different levels of public policy as national, multi- and single levels depending on how many regions are affected by the weakness of a particular pillar.The regional application of the Global Entrepreneurship and Development Index (GEDI): the case of Spain, Regional Studies. This paper constructs a regional application of the Global Entrepreneurship and Development Index (GEDI) that captures the contextual features of entrepreneurship across regions. Using institutional data and survey data, weaknesses in the incentive structure that affect regional development can be identified. The entrepreneurial disparities among regions are analysed at the country and regional levels using a penalty for bottleneck methodology. The methodology allows public policy action to be coordinated at both national and regional levels. It is found that GEDI provides a valuable tool for understanding regional differences across Spanish regions