1,303 research outputs found
Henri Temianka Correspondence; (bodnar)
No full textThis collection contains material pertaining to the life, career, and activities of Henri Temianka, violin virtuoso, conductor, music teacher, and author. Materials include correspondence, concert programs and flyers, music scores, photographs, and books.https://digitalcommons.chapman.edu/temianka_correspondence/1234/thumbnail.jp
The Impact of Institutional Differences on Derivatives Usage: A Comparative Study of US and Dutch Firms
No full textThis paper tests the influence of institutional differences on risk management practices.Several survey studies have investigated derivatives usage for risk management purposes in the US (see, among others, Bodnar, Hayt, Marston and Smithson, 1995 and Bodnar, Hayt and Marston, 1996, 1998).In this paper, we compare derivative practices of US and Dutch firms.This comparison is interesting because the institutional setting for Dutch firms differs from the US setting with respect to shareholder orientation, international trade, disclosure regulation, and the reliance on financial markets.In a number of survey studies additional countries have been studied, such as New Zealand (Berkman, Bradbury and Magan, 1997), Sweden (Alkebäck and Hagelin, 1999) and Germany (Bodnar and Gebhardt, 1999).In contrast with these papers, we facilitate a comparison by applying a matching and a weighting strategy, which corrects for different distributions over industry and size classes in the Dutch and US samples.After these corrections, the remaining results can be attributed to institutional differences.We find that Dutch firms hedge more financial risk. Because of the greater openness of the Netherlands, Dutch firms experience far more foreign exchange exposure and hedge more currency risk.US firms have more concerns regarding derivative usage, which may be linked to the stricter disclosure requirements in the US.US firms also focus more on accounting earnings, which may be attributable to the shareholder orientation in the US versus the stakeholder orientation in the Netherlands.Whereas Dutch firms tend to rely on OTC-transactions, US firms use exchange-traded derivatives and therefore require a higher counter party rating for derivatives transactions. This distinction can be accredited to the differences in the financial environments between the US and the Netherlands.The aforementioned results indicate that institutional differences between the US and the Netherlands have a significant effect on the risk management practices and derivatives use of US and Dutch firms.risk management;hedging;derivatives
Henri Temianka Correspondence; (bodnar)
No full textThis collection contains material pertaining to the life, career, and activities of Henri Temianka, violin virtuoso, conductor, music teacher, and author. Materials include correspondence, concert programs and flyers, music scores, photographs, and books.https://digitalcommons.chapman.edu/temianka_correspondence/3404/thumbnail.jp
Henri Temianka Correspondence; (bodnar)
No full textThis collection contains material pertaining to the life, career, and activities of Henri Temianka, violin virtuoso, conductor, music teacher, and author. Materials include correspondence, concert programs and flyers, music scores, photographs, and books.https://digitalcommons.chapman.edu/temianka_correspondence/3998/thumbnail.jp
Henri Temianka Correspondence; (bodnar)
No full textThis collection contains material pertaining to the life, career, and activities of Henri Temianka, violin virtuoso, conductor, music teacher, and author. Materials include correspondence, concert programs and flyers, music scores, photographs, and books.https://digitalcommons.chapman.edu/temianka_correspondence/3374/thumbnail.jp
ADAM BODNAR CITIZENS OMBUDSMAN – AN EXAMPLE OF SUCCESSFUL ADVOCACY CAMPAIGN
No full textThe Polish Senate approved the election of Dr Adam Bodnar for the position of Ombudsman on 7th of August 2015. It happened because of the social campaign "Adam Bodnar Citizens' Ombudsman," which was held by a non-governmental organization called Citizens Network Watchdog Poland. This text is a detailed description of this campaign on the basis of data collected from qualitative research. The author has prepared a basic SWOT analysis of this case study. This article is an example of a successful advocacy campaign, which was conducted by a non-governmental organization and has led successfully to exert real influence on the decisions of politicians, who themselves decide who will be the new Ombudsman for the term 2015-2020. This article was written in cooperation with Citizens Network Watchdog Poland for the program Pracademia
ADAM BODNAR CITIZENS OMBUDSMAN – AN EXAMPLE OF SUCCESSFUL ADVOCACY CAMPAIGN
No full textThe Polish Senate approved the election of Dr Adam Bodnar for the position of Ombudsman on 7th of August 2015. It happened because of the social campaign "Adam Bodnar Citizens' Ombudsman," which was held by a non-governmental organization called Citizens Network Watchdog Poland. This text is a detailed description of this campaign on the basis of data collected from qualitative research. The author has prepared a basic SWOT analysis of this case study. This article is an example of a successful advocacy campaign, which was conducted by a non-governmental organization and has led successfully to exert real influence on the decisions of politicians, who themselves decide who will be the new Ombudsman for the term 2015-2020. This article was written in cooperation with Citizens Network Watchdog Poland for the program Pracademia
Risk Management for Italian Non-Financial Firms: Currency and Interest Rate Exposure
No full textThis paper surveys risk management practices among Italian non-financial firms. This paper’s contribution lies in investigating derivative usage particular to Italian businesses, a groupwhose public disclosure of derivative instruments is not routine. Italy is characterised by a high percentage of small and medium sized family run
firms. The survey examines determinants of currency and interest rate derivative use with respect currency and to firm size, geographical location, rating, industry, access to capital markets and educated management. The results from the logistic regressions suggest that Italian non-financial firms’ use of derivative contracts is
strongly influenced by these characteristics
A Survey on Risk Management and Derivative Usage in Italian Non-Financial Firms
No full textThis paper presents a survey on the risk management function and the usage of hedging instruments by Italian non-financial firms. The objective is to measure how firms manage the following risks: Exchange-foreign, Interest rate, Energetic, Commodity, Equity, Counter-party, Operational, Country. The study aims at providing descriptive evidence with respect to several questions that are raised in the literature and that are finalized to find out if the firms hedge their exposure or potential exposure, which particular financial risks are managed, how widespread is the derivatives usage, the choice of which derivatives are used for which purposes, the risk management policy implementation, the performance measurement and reporting structure.
In Italy accurate disclosure of derivatives usage in financial statements does virtually not exist. As a result, relatively little is known about the patterns of use and of firm’s attitudes and policies with respect to derivative use. To fill the information gap, this survey documents the usage of derivatives by non-financial large companies.
The outcomes of the survey, conducted both for listed and non-listed firms, suggest that Italian firms are less likely to use derivatives than US firms. The percentage of firms using derivatives or insurance instruments has not changed noticeably since 1999 (the beginning of the euro period). The use of derivatives is more significant among large firms in every risk typology and, in the area of commodity and equity risk management, large firms are the unique size group that uses these instruments in its management activity. The fact that large firms are more likely to use derivatives is suggestive of an economies-to-scale argument for derivatives use.
According to Italian risk managers the low intensity in derivative use cannot be explained by (i) concerns about external perception of derivative/insurance use; (ii) costs of risk management greater than benefits; (iii) expected price to move in firm’s favour; (iv) shareholders expectations to manage risk; (v) uncertainty of timing and/or size.
The reasons to explain the limited practice in derivative markets are as follows:
Insufficient exposure to risk area to warrant management;
Exposure more effectively managed by other means:
Difficulties in monitoring/measuring contract effectiveness
Perceived illness burden, a key to understanding advance care planning in adults nearing the end of life
No full textDespite nationwide legislation encouraging advance care planning (ACP), rates of completion are low. A substantial body of work has examined ACP and the use of advance directives; studies have identified the benefits of ACP, the efficacy of ACP, the low rates of and barriers to ACP, the types of treatments patients are willing to accept, and characteristics of those who engage in planning. However, ACP is still underutilized and not fully understood. Questions remain about how to increase rates of ACP and what factors influence those who have (or have not) engaged in the ACP process. To answer these questions, recent analyses of ACP have called for researchers, policymakers, and practitioners to examine ACP as a health behavior, using a biopsychosocial approach based on patient perspectives that motivate such behavior. The Common Sense Model of Self-Regulation (CSM) is a widely used health behavior model asserting that an individual’s health preferences and behaviors are not only affected by their actual condition, but also by their perceptions about their health condition. The likelihood that an individual prepares for end of life through ACP may reflect their illness representations or beliefs about the duration, severity, consequence and controllability of their health condition. Health representations may trigger a health behavior which, in this case, is ACP. Therefore, the CSM may be useful in helping to explain why individuals engage in ACP. Using data from the New Jersey End-of-Life (NJEOL) study (N=293) (2006-2008), an ethnically diverse sample of non-institutionalized older adults (≥ age 55), I explore the extent to which patient perspectives or illness representations motivated them to plan for the end of life. I focus on the consequences of illnesses and compromised health at the end of life, specifically perceived illness burden. I examine if, how, and for whom perceived burden motivates patients to engage in the process of advance care planning. The findings have significant implications for health care practice and policy. These findings suggest that functional impairments and perceptions of burden are important factors in ACP; eliciting patient perceptions about the consequences of their illness may facilitate increased levels of ACP.Ph. D.Includes bibliographical referencesby Susan Bodnar Dere
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