Search results for "Location"
showing 10 items of 1480 documents
Sustainable and Conventional Banking in Europe
2020
At the end of the 20th century a new banking model, the so-called ethical banking, emerged becoming the maximum exponent of a socially responsible investment. The financial crisis in 2008 led to a distrust of the conventional financial system and consequently investors began to look with interest this new banking, which only invests in ethical activities and products, with social and environmental criteria, total transparency and a democratic management. The aim of this article is to analyze the economic structure of ethical banking, compared to that of conventional banking, by paying attention to its liquidity, coverage and solvency. Specifically, We compare the financial statements of Tri…
Interdependence between Green Financial Instruments and Major Conventional Assets: A Wavelet-Based Network Analysis
2021
This paper examines the interdependence between green financial instruments, represented by green bonds and green stocks, and a set of major conventional assets, such as Treasury, investment-grade and high-yield corporate bonds, general stocks, crude oil, and gold. To that end, a novel wavelet-based network approach that allows for assessing the degree of interconnection between green financial products and traditional asset classes across different investment horizons is applied. The empirical results show that green bonds are tightly linked to Treasury and investment-grade corporate bonds, while green stocks are strongly tied to general stocks, regardless of the specific time period and i…
Dynamic Asset Allocation Strategies Based on Unexpected Volatility
2013
In this paper we document that at the aggregate stock market level the unexpected volatility is negatively related to expected future returns and positively related to future volatility. We demonstrate how the predictive ability of unexpected volatility can be utilized in dynamic asset allocation strategies that deliver a substantial improvement in risk-adjusted performance as compared to traditional buy-and-hold strategies. In addition, we demonstrate that active strategies based on unexpected volatility outperform the popular active strategy with volatility target mechanism and have the edge over the widely reputed market timing strategy with 10-month simple moving average rule.
Uneven economic burden of non-communicable diseases among Indian households: A comparative analysis
2021
Background Non-communicable diseases (NCDs) are the leading global cause of death and disproportionately concentrate among those living in low-income and middle-income countries. However, its economic impact on households remains less well known in the Indian context. This study aims to assess the economic impact of NCDs in terms of out-of-pocket expenditure (OOPE) and its catastrophic impact on NCDs affected households in India. Materials and methods Data were collected from the 75th round of the National Sample Survey Office, Government of India, conducted in the year 2017–18. This is the latest round of data available on health, which constitutes a sample of 113,823 households. The coll…
Abrupt elastic-to-plastic transition in pentagonal nanowires under bending
2019
MD modeling and calculations were supported by Russian Science Foundation project grant 18-19-00645 “Adhesion of polymer-based soft materials: from liquid to solid”; mechanical testing and FEM simulations were supported by Estonian Research Council projects PUT1689 and PUT1372.
Unraveling the evolutionary history of the phosphoryl-transfer chain of the phosphoenolpyruvate:phosphotransferase system through phylogenetic analys…
2007
[Background] The phosphoenolpyruvate phosphotransferase system (PTS) plays a major role in sugar transport and in the regulation of essential physiological processes in many bacteria. The PTS couples solute transport to its phosphorylation at the expense of phosphoenolpyruvate (PEP) and it consists of general cytoplasmic phosphoryl transfer proteins and specific enzyme II complexes which catalyze the uptake and phosphorylation of solutes. Previous studies have suggested that the evolution of the constituents of the enzyme II complexes has been driven largely by horizontal gene transfer whereas vertical inheritance has been prevalent in the general phosphoryl transfer proteins in some bacter…
Semiparametric stochastic frontier models: A generalized additive model approach
2017
Abstract The choice of the functional form of the frontier into a stochastic frontier model is typically neglected in applications and canonical functions are usually considered. This paper introduces a semiparametric approach for stochastic frontier estimation that extends previous works based on pseudo-likelihood estimators allowing flexibility in model selection and capability of imposing monotonicity and concavity constraints. For these purposes the present work introduces a generalized additive framework that moreover permits to model the influence of contextual/environmental factors to the hypothesized production process by the relative extension given by generalized additive models f…
Germany: Where Are We Going?
2012
Germany’s health policy, in the past, has tried to limit health expenditures by defining an overall health budget, by installing a DRG-system and by forcing patients to participate directly at health costs by demanding copayments. These measurements were somehow effective in keeping premiums stable but have led to resource allocation at the bedside and therefore on an implicit level. Yet, implicit-level decisions create ethical dilemmas for physicians as they not only have to deliver best medical care but shall also have cost in mind, are unjust because rationing criteria differ from one case to another, and create a general fear of legal uncertainty, in turn leading to defensive medicine w…
Thermal stress affects patch time allocation by preventing forgetting in a parasitoid wasp
2015
Learning and memory allow animals to adjust their foraging strategies through experience. Despite the known impact of temperature on many aspects of the behavioral ecology of animals, memory retention in the face of realistic thermal stress has seldom been assessed. In the laboratory, we studied the behavioral expression of an egg parasitoid’s (Trissolcus basalis) memory when exposed to thermal stress that could be encountered in nature. We hypothesized that thermal stress would disrupt memory consolidation and/ or modify the optimality of memory retention, thus affecting patch time allocation strategies. Memory consolidation was resilient to 1 h of thermal stress following an unrewarded ex…
Maximizing network capacity in an heterogeneous macro-micro cellular scenario
2011
The problem of resource allocation in cellular networks has been traditionally faced at two different levels: at the network level, in terms of frequency planning and reuse pattern design, and at the cell level, in terms of cell capacity optimizations based on channel-dependent scheduling, link adaptation, power control, and so on. While this second aspect has been deeply investigated in literature, the first aspect has been mainly faced with static or semi-dynamic reuse utilization solutions. In this paper we deal with the problem of multi-cellular resource allocation in heterogeneous OFDMA environments with reuse factor equal to 1, where base stations with different power constraints coex…