77,722 research outputs found
Pitfalls in modeling loss given default of bank loans
No full textThe parameter loss given default (LGD) of loans plays a crucial role for risk-based decision making of banks including risk-adjusted pricing. Depending on the quality of the estimation of LGDs, banks can gain significant competitive advantage. For bank loans, the estimation is usually based on discounted recovery cash flows, leading to workout LGDs. In this paper, we reveal several problems that may occur when modeling workout LGDs, leading to LGD estimates which are biased or have low explanatory power. Based on a data set of 71,463 defaulted bank loans, we analyze these issues and derive recommendations for action in order to avoid these problems. Due to the restricted observation period of recovery cash flows the problem of length-biased sampling occurs, where long workout processes are underrepresented in the sample, leading to an underestimation of LGDs. Write-offs and recoveries are often driven by different influencing factors, which is ignored by the empirical literature on LGD modeling. We propose a two-step approach for modeling LGDs of non-defaulted loans which accounts for these differences leading to an improved explanatory power. For LGDs of defaulted loans, the type of default and the length of the default period have high explanatory power, but estimates relying on these variables can lead to a significant underestimation of LGDs. We propose a model for defaulted loans which makes use of these influence factors and leads to consistent LGD estimates. --Credit risk,Bank loans,Loss given default,Forecasting
Jack Alive / Martin Dead : The Location of the "Author" in Jack London\u27s Martin Eden
No full textThis essay is an attempt to read Martin Eden, Jack Londonʼs autobiographical novel, in terms of the inextricable relationship between the author and the protagonist. Critics have often taken the unbalanced plot and the lack of ironic distance between narrator and character in Martin Eden as the technical weakness of London, but this paper argues that the achievement of this novel owes a great deal to the attachment of London to Martin. The unbalanced structure is a necessary product of the severe struggle of the author to kill his romantic alter ego. // Martin, who aspires to win Ruth Morse, tries to cross class boundaries by making a career of a writer. Even after realizing the emptiness of Ruth, who turns out to be nothing but a typical figure of the bourgeoisie, he somehow persists in loving her. The notion underlying here is that, for Martin, love, career and art are fundamentally inseparable. He objects to the aestheteʼs view of Brissenden on account of his separation of art from career. Martinʼs identity and life consist only in the triunity of love/career/art; the alternative is the repudiation of life. Thus, the unnatural delay of his disappointment in love can be regarded as Londonʼs strategy to set the suicide of Martin as the necessary consequence of the story. // By finishing the story and killing Martin, London finally detaches himself from Martin, reconstructs his self, and, unlike Martin, survives as a professional writer. In this sense, Martin Eden is a story about “writerʼs self-reconstruction.
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Letter from Martin Chizzick
No full textCongratulations to Duane Pearsall for receiving the Enterpreneur of the Year award; note on the letter was written by Pearsall and it mentions that Martin, the author of the letter, died in a airplane accident
Frank Henry Martin (center), Herbert Keller Martin (far left), C.F. Martin III (far right), and workers at entrance to C.F. Martin & Co. factory
No full textThe Martins in this photograph all served in management roles with C.F. Martin & Co. The photograph taken around 1910. Given the production levels at this time, it\u27s likely that this group comprised most of Martins\u27 work force. C.F. Martin & Co., founded in 1833 and headquartered in Nazareth, Pennsylvania, is the world\u27s oldest surviving producer of guitars and the largest producer of acoustic guitars in the United States
Robert Martin Tiffin's Mystery Man Newspaper Articles
No full textAdvertiser-Tribune newspaper clippings featuring a story about Robert Martin (written by Nancy Kleinhenz), a local author from Tiffin (Ohio) who wrote under the pseudonym of Lee Roberts, and two of his short stories. Martin wrote mystery novels in his spare time, creating more than 22 mystery novels. For more information about Robert Martin and a list of books go to http://www.mysteryfile.com/RMartin/JBennett.html
Experiences Using Large Scale Video Walls for Distance Education
No full textWe describe our experiences building and using the Rutgers Videowall, a low-cost telepresence system that has been used teaching 15 courses and colloquia. By relaxing typical spatial telepresence features, such as background continuity, we greatly reduced costs and gained flexibility in the rooms it could be deployed in. The lower costs and room flexibility enabled academic departments to use the wall, in contrast to traditional telepresence systems which remained inaccessible. We found that the Videowall’s spatial distortions did not have a significant impact on useability, as our initial survey results show that students had an overall positive experience.Technical report DCS-tr-72
Martin Luther King Fellows In Black Religious Studies, Inc. Collection
No full textWhen Martin Luther King, Jr. was assassinated in April of 1968, the Black theological students at Colgate Rochester Divinity School requested a program and professorship in Black Church Studies as a memorial to what King represented as a pastor and leader of the Black Church. After a forced close-down of the school by the Black students and a series of fundraising efforts, the Martin Luther King, Jr. Memorial Professorship in Black Church Studies was established. This position was filled by Henry H. Mitchell (clergyman, educator, author and at that time pastor of Calvary Baptist Church, Santa Monica, CA) on July 1, 1969 and the program of Black Church Studies at CRDS/BH/CTS was launched in September 1969. The Martin Luther King, Jr. Fellows project began as the result of an idea given to Dr. Mitchell for a research and writing project for the purpose of developing literature, curriculum, and bibliographical materials in the area of Black Church practice.
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Hans Martin Schwarz Collection 1934 - 1938
No full textThis collection contains clippings of articles by Hans Martin Schwarz (1917, Hamburg – 2006, New York, better known as Martin Ebon), published between 1934 and 1938 in German-Jewish newspapers on a wide variety of subjects such as sports, emigration, the political situation in Germany, and religious attitudes of the young. It also contains reviews of his books "Einer wie Du und Ich" and "Heiteres, Besinnliches, Nachdenkliches."digitizedHans Martin Schwarz (1917, Hamburg – 2006, New York, better known as Martin Ebon), was a journalist and author. In Germany during the 1930s, he published in a variety of German-Jewish periodicals, primarily the Israelitisches Familienblatt. After immigrating to the United States in 1938, he changed his name to Martin Ebon, and published dozens of books in the areas of world affairs and parapsychology.Processe
"Climb The Highest Mountain", dedicatory address, Robert O. Greer, Martin Luther King, Jr. School, 1969
No full textA typewritten dedicatory address, given by Robert O. Greer, Assistant Superintendent of Urban Education of the Ohio Department of Education. Speech was given at the dedication of Martin Luther King, Jr. Elementary School in Toledo, Ohio on March 30, 1969
Interview with Father James Martin
No full textIn May 2011, the Ignatian Faculty Scholars at Regis University conducted a Skype interview with Father James Martin, S. J., author of The Jesuit Guide to Almost Everything. The Scholars had used Father Martin’s book as a text for their year of study, which focused on Ignatian Spirituality, the Ignatian Pedagogical Paradigm, and teaching and learning at a Jesuit university. The interview was transcribed and is printed below. Father Martin reflects on the book, and responds to questions about the book itself, about finding God in all learners, and about the Church
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