1,720,955 research outputs found
Essays on the Expected Credit Loss Model
No full textThe implementation of the Expected Credit Loss (ECL) model represents a significant change in financial reporting for banks by requiring the recognition of loan loss provisions based on expected credit losses at loan origination. This thesis examines the impact of the ECL model on bank transparency and lending decisions. Chapter 1 shows that the ECL model reduces the ability of equity investors to interpret loan loss provisions in banks' earnings announcements. Investors face greater difficulty in assessing the credit risk of a bank and incorporating this information into their investment decisions. This may be due to the insufficient disclosures about the main assumptions that banks use to calculate loan loss provisions under the ECL model. Chapter 2 examines the effect of the ECL model on the supply of credit in relationship banking. The findings indicate that the new impairment model reduces the role of relationship lending in facilitating credit access for firms, implying a reduction in the availability of credit at the firm level. Chapter 3 studies the impact of the ECL model on the measurement of normal and abnormal loan loss provisions, suggesting that traditional models used to detect earnings management in banks need to be extended to account for the dynamics of expected credit losses.La aplicación del modelo de pérdidas crediticias esperadas (ECL) representa un cambio importante en la información financiera de los bancos al exigir reservar por pérdidas crediticias esperadas en el momento de la concesión del préstamo. Esta tesis examina el impacto del modelo ECL sobre la transparencia bancaria y las decisiones de préstamo. El capítulo 1 muestra que el modelo ECL reduce la capacidad de los inversores de capital para interpretar las provisiones durante la presentación de los resultados financieros de los bancos. Los inversores tienen más dificultades para evaluar el riesgo de crédito de un banco e integrar esta información en sus decisiones de inversión. Esto se puede deber a la falta de información sobre los principales supuestos necesarios para el cálculo de las provisiones por pérdidas crediticias con ECL. El capítulo 2 examina el efecto del modelo ECL sobre la oferta de crédito en la banca relacional. Los resultados indican que el nuevo modelo reduce el papel de la banca relacional a la hora de facilitar que las empresas puedan acceder a nuevo crédito, lo que implica una reducción de la disponibilidad de crédito a nivel de empresa. El capítulo 3 estudia el impacto del modelo ECL en la medición de las provisiones por pérdidas crediticias normales y discrecionales, mostrando que los modelos tradicionales que se usan para detectar la gestión de beneficios en los bancos se deben modificar incorporando la dinámica de las pérdidas crediticias esperadas.Programa de Doctorat en Economia, Finances i Empres
Economic policy uncertainty and investment in Spain
No full textThe aim of this paper is to investigate the effect of economic policy uncertainty on firms' investment decisions. We focus on Spain for the period 1998-2014. To measure policy-related uncertainty, we borrow the economic policy uncertainty (EPU) indicator available for this country. We find strong evidence that uncertainty reduces corporate investment. This relationship appears to be nonlinear, being the marginal effect of uncertainty attenuated toward zero during periods of high uncertainty levels. Furthermore, the heterogeneous results suggest that the adverse effect of uncertainty is particularly relevant for highly vulnerable firms. Overall, these results are consistent with the hypotheses that economic policy-related uncertainty reduces corporate investment through increases in precautionary savings or to worsening of credit conditions
Essays on the Expected Credit Loss Model
No full textThe implementation of the Expected Credit Loss (ECL) model represents a significant change in financial reporting for banks by requiring the recognition of loan loss provisions based on expected credit losses at loan origination. This thesis examines the impact of the ECL model on bank transparency and lending decisions. Chapter 1 shows that the ECL model reduces the ability of equity investors to interpret loan loss provisions in banks' earnings announcements. Investors face greater difficulty in assessing the credit risk of a bank and incorporating this information into their investment decisions. This may be due to the insufficient disclosures about the main assumptions that banks use to calculate loan loss provisions under the ECL model. Chapter 2 examines the effect of the ECL model on the supply of credit in relationship banking. The findings indicate that the new impairment model reduces the role of relationship lending in facilitating credit access for firms, implying a reduction in the availability of credit at the firm level. Chapter 3 studies the impact of the ECL model on the measurement of normal and abnormal loan loss provisions, suggesting that traditional models used to detect earnings management in banks need to be extended to account for the dynamics of expected credit losses.La aplicación del modelo de pérdidas crediticias esperadas (ECL) representa un cambio importante en la información financiera de los bancos al exigir reservar por pérdidas crediticias esperadas en el momento de la concesión del préstamo. Esta tesis examina el impacto del modelo ECL sobre la transparencia bancaria y las decisiones de préstamo. El capítulo 1 muestra que el modelo ECL reduce la capacidad de los inversores de capital para interpretar las provisiones durante la presentación de los resultados financieros de los bancos. Los inversores tienen más dificultades para evaluar el riesgo de crédito de un banco e integrar esta información en sus decisiones de inversión. Esto se puede deber a la falta de información sobre los principales supuestos necesarios para el cálculo de las provisiones por pérdidas crediticias con ECL. El capítulo 2 examina el efecto del modelo ECL sobre la oferta de crédito en la banca relacional. Los resultados indican que el nuevo modelo reduce el papel de la banca relacional a la hora de facilitar que las empresas puedan acceder a nuevo crédito, lo que implica una reducción de la disponibilidad de crédito a nivel de empresa. El capítulo 3 estudia el impacto del modelo ECL en la medición de las provisiones por pérdidas crediticias normales y discrecionales, mostrando que los modelos tradicionales que se usan para detectar la gestión de beneficios en los bancos se deben modificar incorporando la dinámica de las pérdidas crediticias esperadas.Programa de Doctorat en Economia, Finances i Empres
Going Beyond Counting First Authors in Author Co-citation Analysis
Get PDFThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Variations on the Author
Get PDF“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
Appropriate Similarity Measures for Author Cocitation Analysis
Get PDFWe provide a number of new insights into the methodological discussion about author cocitation analysis. We first argue that the use of the Pearson correlation for measuring the similarity between authors’ cocitation profiles is not very satisfactory. We then discuss what kind of similarity measures may be used as an alternative to the Pearson correlation. We consider three similarity measures in particular. One is the well-known cosine. The other two similarity measures have not been used before in the bibliometric literature. Finally, we show by means of an example that our findings have a high practical relevance.information science;Pearson correlation;cosine;similarity measure;author cocitation analysis
Dispelling the Myths Behind First-author Citation Counts
Get PDFWe conducted a full-scale evaluative citation analysis study of scholars in the XML research field to explore just how different from each other author rankings resulting from different citation counting methods actually are, and to demonstrate the capability of emerging data and tools on the Web in supporting more realistic citation counting methods. Our results contest some common arguments for the continued
use of first-author citation counts in the evaluation of scholars, such as high correlations between author rankings by first-author citation counts and other citation
counting methods, and high costs of using more realistic citation counting methods that are not well-supported by the ISI databases. It is argued that increasingly available digital full text research papers make it possible for citation analysis studies to go beyond what the ISI databases have directly supported and to employ more
sophisticated methods
koamabayili/VECTRON-author-checklist: VECTRON author checklist
No full textWe have done our best to complete the author checklist relating to the use of animals in the hut study. Note that the objective for the hut study was to evaluate the IRS treatment applications for residual efficacy against Anopheles mosquitoes, including the local An. coluzzii mosquito population. Cows were only used to attract mosquitoes into the huts and no tests were carried out directly on the cows. The author checklist is intended for use with studies where experiments are carried out on animals, which is why we have had such difficulty in completing this for the hut study, as many of the questions do not relate to how the cows were used
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