Search results for "INTERMED"
showing 10 items of 735 documents
Lignes et points : Illustration, impressionnisme littéraire et procédés
2020
International audience; Cette conférence a porté de manière générale sur les rapports entre illustration et procédés de reproduction. Elle est plus précisément consacrée à l’utilisation de la photogravure dans le livre illustré britannique de la fin du 19ème siècle. L’exemple choisi est le recueil d’essais London Impressions (Constable, 1898) d’Alice Meynell, illustré par l’artiste britannique William Hyde. Peintre et aquafortiste, Hyde collaborait avec l’inventeur écossais Donald Cameron-Swan (1863-1951) de la Swan Electric Engraving Company, spécialisée dans le cliché trait comme dans le cliché simili. À la croisée de pratiques autographiques et d’opérations mécaniques, la photogravure al…
Observation of Photon Polarization in theb→sγTransition
2014
This Letter presents a study of the flavor-changing neutral current radiative $B^{\pm} \to K^{\pm}\pi^{\mp}\pi^{\pm}\gamma$ decays performed using data collected in proton-proton collisions with the LHCb detector at $7$ and $8\,$TeV center-of-mass energies. In this sample, corresponding to an integrated luminosity of $3\,\text{fb}^{-1}$, nearly $14\,000$ signal events are reconstructed and selected, containing all possible intermediate resonances with a $K^{\pm}\pi^{\mp}\pi^{\pm}$ final state in the $[1.1, 1.9]\,$GeV/$c^{2}$ mass range. The distribution of the angle of the photon direction with respect to the plane defined by the final-state hadrons in their rest frame is studied in interva…
Income structure, profitability and risk in the European banking sector: The impact of the crisis
2017
This study sets out to analyse whether the effect of the income structure on the risk and profitability of European banks has changed as a result of the crisis and if it varies according to banks’ specialisation in a particular type of banking business. To do so, it estimates the income structure over the period 2002–2012 using data for a panel of European banks. The study also examines if there are differences between investment-oriented banks and banks specialising in financial intermediation in terms of the effect of income structure on risk and profitability. Our findings show that an increase in the share of non-interest income has a negative impact on profitability, although the effec…
GOVERNANCE-BASED ACQUISITIONS AND RISK TAKING IN BANKING
2008
We examine the market for corporate control in banking when strategic acquisitions are driven by the different governance structures of commercial and savings banks. In contrast to profit-maximizing entities, we show that savings institutions can have acquisition incentives from their peculiar governance and ownership structure. Governance-based acquisition incentives, which interact with the specifics of the loan market in affecting bank risk taking, can arise when acquisitions take place sequentially or simultaneously, and also when financial intermediaries affect risk taking directly through the target return of investments or indirectly through the loan interest rate.
Credit Risk Disclosure Practices in the Annual Financial Reporting of Large Italian Banks
2019
Risk disclosure in banking is particularly important for the efficacy of market discipline, the assessment of bank performance, the efficiency of the financial market, and the overall stability of the financial system. The European banking union and the financial crisis have enhanced the strategic role of credit risk disclosure in banking. The topic of this chapter is the evaluation of credit risk disclosure practices in banks’ annual financial reporting. The empirical research is conducted on a sample of ten large Italian banks. The authors employ content analysis and provide a hybrid scoring model for the assessment of credit risk disclosure. The chapter provides empirical findings which …
You Cannot Save Alone - Financial and Social Mobilization in Savings and Credit Groups
2007
Savings and credit groups are becoming increasingly popular, both as a cost-efficient alternative to mainstream microfinance and as a mean to mobilize people around individual and common challenges. Whether donors should promote and support Self Help Microfinance Groups that confine themselves to financial intermediation only - the specialist, or minimalist approach - or if they should support those pursuing a more integrated approach and incorporate a broader set of activities, is increasingly being debated. The study proposes a framework to better analyze and understand the different group-models, their advantages and disadvantages. Furthermore, the study outlines how social and financial…
Bank Lending in Project Finance: The New Regulatory Capital Framework
2012
The paper aims to examine the new regulatory framework of project finance in the economics of banking firms. In particular, the paper investigates the uniqueness of the project finance, the significant importance of the project finance in bank activity, and the role of the new bank capital requirements to promote the innovative financial scheme. In the project finance business loans terms and characteristics are primarily based on the assets and quality of the project to be financed. It means that the usual bank rating models for lending business might not been implemented in the project finance lending. Quantitative estimates of credit risk could not be always possible in project finance l…
Access to Finance: Baltic Financial Markets
2014
Abstract Access to finance is considered one of the main obstacles to successful financial market development. Access to finance was second-ranked most pressing problem faced by companies in the Euro Area and one of the main barriers to company's innovation capacity. The study results highlight the need to recognize that countries require sound and well-functioning financial markets. Only in this case financial markets can provide much needed sources of investments such as sound banking loans, properly regulated securities exchanges, venture capital, and other resources.
Project finance in the energy industry: new debt-based financing models
2012
The paper aims to examine the development of new financing models for project finance to attract private investors to finance large European energy infrastructure projects. In particular, the paper investigates the uniqueness of the project finance as a rapidly growing field in finance, the financial characteristics of the project bond market as one of the vehicles for funding energy projects, and the role of the credit support provided by the European Investment Bank and the European Union to promote the bond-based financing schemes. The paper is organized as follows. Section 1 provides a general description of project finance. Section 2 identifies the economic reasons for using project fi…
The impact of the financial crisis on financial integration, growth and investment
2012
Financial crises, and in particular those of the past few years, have severe consequences for the affected economies. In this paper we analyse the impact of financial development and European financial integration on growth and we find no reversal of the growth benefits of financial development and integration in recent years. This highlights the economic cost of regulatory changes that would reverse European financial integration. We also find that, following a financial crisis, investment declines more in countries with a greater degree of uncertainty aversion, which can be informative for evaluating post-crisis economic performance.