Search results for "HG1-9999"
showing 10 items of 71 documents
Next-Day Bitcoin Price Forecast
2019
This study analyzes forecasts of Bitcoin price using the autoregressive integrated moving average (ARIMA) and neural network autoregression (NNAR) models. Employing the static forecast approach, we forecast next-day Bitcoin price both with and without re-estimation of the forecast model for each step. For cross-validation of forecast results, we consider two different training and test samples. In the first training-sample, NNAR performs better than ARIMA, while ARIMA outperforms NNAR in the second training-sample. Additionally, ARIMA with model re-estimation at each step outperforms NNAR in the two test-sample forecast periods. The Diebold Mariano test confirms the superiority of forecast …
Wydatki gmin na usługi opiekuńcze a zmiany demograficzne w Polsce
2020
Local governments as the smallest units of territorial self‑government in Poland are responsible for providing care services. The growing number of the elderly can influence the expenditures level connected with ensuring proper care for them, and it may constitute a growing problem for local government, especially for districts with a lower level of socio‑economic development. In recent years, a quite high increase in benefits amount due to care services and specialist care services has been observed. Therefore, a question arises whether a significant dependence can be observed between the share of the elderly in the population and the degree of local governments’ financial burden due to pr…
Financial development and intergenerational education mobility
2018
Using years of education as a measure of status, we study the relationship between financial development and intergenerational mobility, focusing on human capital investments boosted by financial deepening. We consider a set of indices to capture different components of the overall intergenerational education mobility. Using a sample of 39 countries, we find that financial development is related to structural mobility but not to exchange mobility. In particular, while we detect an inverted U-shaped relationship between financial development and structural mobility, we do not find any significant relationship with exchange mobility. Keywords: Intergenerational mobility, Financial development…
Assessing the performance of the Latin American and Caribbean banking industry: Are domestic and foreign banks so different?
2015
AbstractThis paper studies the relative performance of domestic and foreign banks in the Latin American and Caribbean banking industry. Data Envelopment Analysis is used to compute technical efficiency scores for the years 2001 and 2013. Our main contribution is twofold. On the one hand, we assess performance at the level of the management of specific production factors. On the other hand, we distinguish program efficiency from managerial efficiency, which allows us to evaluate whether the differences in technical efficiency between national and foreign banks are due to the use of different technologies (program efficiency) or, conversely, differences in the managerial capacities of manager…
Operational risk in bank governance and control: How to save capital requirement through a risk transfer strategy. Evidences from a simulated case st…
2015
Operational risk management in banking has assumed such importance during the last decade. It has become increasingly important to measure, manage, and assess the impact of operational risk in the economics of banking. The purpose of this paper is to demonstrate how an effective operational risk management provides mitigating effects on capital-at-risk in banking. The paper provides evidences that an implementation of an operational risk transfer strategy reduces bank capital requirement. The paper adopts the loss distribution approach, the Monte Carlo simulation, and copula methodologies to estimate the regulatory capital and simulate an operational risk transfer strategy in banking.
North American entrepreneurs in Cuba: which entry mode and government affiliation strategy?
2018
Purpose To have success in newly liberalized markets, firms must have a plan of action before resources are committed. What some companies do not realize is that their own entrepreneurial orientation (EO) will dictate their strategies, and performance outcomes, in both their home market and abroad. In order to maximize firm performance in newly liberalized markets (such as Cuba), firms must be able to objectively gauge their own EO. The paper aims to discuss these issues. Design/methodology/approach Within this framework, the present paper will attempt to effectively measure the EO of decision-making managers from US companies that have an interest in entering the Cuban market. A final sam…
SUSTENTABILIDADE AMBIENTAL: UM ESTUDO NA AUTORIDADE PORTUÁRIA DE VALENCIA, ESPANHA.
2012
Mesmo com a grande relevância dos portos para o desenvolvimento econômico e social dos países, há uma questão que merece atenção dos gestores e da sociedade, é o fato que as atividades portuárias causam impactos ambientais, tais como assoreamento em meios aquáticos, alterações na fauna e flora, emissões atmosféricas, geração de resíduos sólidos, entre outros. Neste contexto, a gestão da informação ambiental é importante tanto para os gestores dos portos quanto para a sociedade, pois permite conhecer o nível de impacto gerado e o n&ia…
'Entrepreneurial, institutional and financial strategies for FinTech profitability'
2022
The authors acknowledge the financial support from the FUNCAS Foundation, PGC2018 -099415 -B -100 MICINN/FEDER/UE, and Junta de Andalucia P18-RT-3571 Project.
Perspectives of tax reforms in Croatia: expert opinion survey
2014
In order to shape tax reform it is necessary objectively to assess the current stateof-the- art of and of the outlook for the tax system. After having reviewed all previous reforms in the light of the consumption-based (interest- adjusted) concept of direct taxation, which was almost systematically implemented in Croatia in 1994, we present the results of a broad expert opinion survey about the Croatian tax system. The most interesting results suggest the maintenance/(re)introduction of different tax incentives and reduced VAT rates, rejection of a flat tax as well as decrease of tax brackets, an increase in alcohol and tobacco duties, the introduction of a financial activities tax, a furth…
La previsibilidad contractual y sus consecuencias en el Código Civil y Comercial
2021
<p>La temática que se abordará en el presente trabajo se relaciona con los efectos jurídicos que surgen de lo previsto en materia contractual; sea cual fuere el ámbito o las cuestiones por las cuales las partes exteriorizan su voluntad al momento de pactar. El Legislador ha contemplado las consecuencias jurídicas a través del vigente artículo 1728 del Código Civil y Comercial, señalando textualmente en cuanto a la “previsibilidad contractual”, que “En los contratos se responde por las consecuencias que las partes previeron o pudieron haber previsto al momento de su celebración”; obviamente basándose en un obrar culposo, habida cuenta de que la culpa se presume cuando el factor de atri…