177,645 research outputs found
From Disruption to Post-pandemic Scenario
No full textFollowing the previous Chapter 18, this concluding this chapter (Part 2 of two) puts forward options for regulators triggered by COVID-19, bringing to the conclusion that the pandemic is an unprecedented opportunity to redefining boundaries and refocusing the priority on innovation for transparency. © The Author(s), under exclusive license to Springer Nature Switzerland AG 2021
No Helly theorem for stabbing translates by lines in R-3
No full textFor each n > 2 we construct a convex body K subset of R-3 and a finite family F of disjoint translates of K such that any n - 1 members F admit a line transversal, but F has no line transversal
Financial centres' competitiveness and economic convergence: Evidence from the European Union regions
No full textThis study analyses the gaps in financial centres' competitiveness and their impact on regional economic convergence in 23 European Union Member States during the period of the Global Financial Crisis. In particular, we explore the economic convergence and divergence patterns among regions from two different perspectives across the selected European Union Member States and within each country. From a methodological viewpoint, we apply a fully non-parametric framework to the club convergence model and address the endogeneity problem between financial centres' competitiveness and regional economic convergence. Our results show that the large and internationally-oriented financial centres experienced a diverging trend in terms of the competitiveness of financial centres' business environment during the peak of the crisis. We also find evidence that the convergence of financial centres reduces regional economic inequalities between the regions where financial centres are located. In contrast, the increase in the competitiveness of financial centres only serves to widen existing inequalities at the national level. Finally, we examine and discuss the impact of competitiveness drivers of financial centres on the convergence pattern of European Union regions.</p
Monetary policy and the banking sector in Turkey
No full textWe find that monetary policy influenced Turkish bank lending between 1991 and 2007 through the money and bank lending channels. While capital and GDP growth have positive and significant long-run effects on bank loan growth, inflation, bank size and efficiency are not significant determinants. The latter is despite our finding that all Turkish banks' efficiency improved over the period. Domestic banks are unexpectedly found to be more efficient than foreign banks. With no evident dynamics or fixed-effects in loan growth we prefer the pooled-OLS estimator. We caution against assuming fixed-effects and dynamics are present as this may adversely affect inference. © 2013 Elsevier B.V
What is the impact of bankrupt and restructured loans on Japanese bank efficiency?
No full textThe Japanese banking system provides a distinctive platform for the examination of the long-lasting effect of problem loans on efficiency. We measure technical efficiency by modifying a translog enhanced hyperbolic distance function with two undesirable outputs, identified as problem loans and problem other earning assets. Our unique database allows us to distinguish between bankrupt and restructured loans to investigate the underlying causality between these loans and efficiency. From the flexible panel vector autoregression specification, primary results reveal that bankrupt loans have a positive impact on efficiency related to the “moral hazard, skimping” hypothesis, with the causality originating from bankrupt loans. In contrast, findings for the relationship between restructured loans and efficiency support the “bad luck” hypothesis
Financial development and productive inefficiency: A robust conditional directional distance function approach
No full textThis paper examines whether the level of financial development helps lower countries’ inefficiency using time-dependent robust conditional directional distance functions in a sample of 91 countries over 1970–2011. The overall results reveal that the effect of financial development on countries’ productive inefficiency is highly nonlinear, and depends on countries’ income levels, suggesting that higher levels of financial development are enhancing more countries’ catching-up ability rather than their technological change
Appropriate Similarity Measures for Author Cocitation Analysis
No full textWe 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
Fluorine Labeling as a Versatile Tool for Probing Nucleic Acid Folding and Interactions by NMR Spectroscopy
No full textThis mini-review provides an overview of approaches to19F-labeling of nucleic acids. A special attention is paid to applications of19F-labeled nucleic acids to resolve their polymorphism and characterize their folding and interactions with ligands and proteins in vitro and in living cells by using NMR spectroscopy
Fintech and Blockchain Based Innovation: Technology Driven Business Models and Disruption
No full textInformation technology is constantly redefining business models. In banking and finance, blockchain and fintech are advancing service provision and users’ engagement, leading some media to coin the expression “Uberization of banking”. This Chapter 18 extrapolates from sharing economy models to conclude that, notwithstanding inherent innovative features, blockchain and fintech are not destined to disrupt finance and banking. Through analogy and successive approximations, the authors identify the limitations of the arguments for disruption. Moreover, starting from stylized facts, the authors raise concerns on potential threats arising from financial innovations such as Tokenomics, referred to as “Naught-Backed Securities”
"Closing the R&D Gap, Evaluating the Sources of R&D Spending"
No full textBoth spending and tax policies have been implemented in the United States with the goal of stimulating private sector research and development (R&D). Karier questions whether current R&D policy, especially the research and experimentation tax credit, can contribute to closing the gap between nondefense expenditures on R&D in the United States and such expenditures in other countries, such as Japan and Germany. He also explores possible changes to our current R&D policy to make it more effective.
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