Search results for "Management Science"
showing 10 items of 1017 documents
Risk Management for Sustainable Sovereign Debt Financing
2021
We model sovereign debt sustainability with optimal financing decisions under macroeconomic, financial, and fiscal uncertainty, with endogenous risk and term premia. Using a coherent risk measure we trade-off debt stock and flow risks subject to sustainability constraints. We optimize static and dynamic financing strategies and demonstrate economically significant savings from optimal financing compared with simple rules and consols, and find that optimizing the trade-offs can be critical for sustainability. The model quantifies minimum refinancing risk and maximum rate of debt reduction that a sovereign can achieve given its economic fundamentals, and an extension identifies optimal timing…
Supply chain modelling and analysis: an application of Latin square to a repeated coupling of non-linear differential equations
2011
In the last 50 years, Forrester’s system dynamics techniques have been adopted to analyse problems and find solutions for global supply chains. An important topic in production-inventory system modelling is the design of experiment. The aim of this paper is to present an application of a statistical technique of design of experiment, the Latin Square Design, to set a combination of input values for the initial-value problem of non-linear repeated coupling of first-order differential equations modelling a production-inventory system. This design permits to reduce the number of experiments while allowing statistical analysis for testing the significance of the studied parameters.
Portfolio diversification in the sovereign credit swap markets
2018
We develop models for portfolio diversification in the sovereign credit default swaps (CDS) markets and show that, despite literature findings that sovereign CDS spreads are affected by global factors, there is sufficient idiosyncratic risk to be diversified. However, we identify regime switching in the times series of CDS spreads and spread returns, and the optimal diversified strategies can be regime dependent. The developed models trade off the CVaR risk measure against expected return, consistently with the statistical properties of spreads. We consider three investment strategies suited for different CDS market participants: for investors with long positions, speculators that hold unco…
A bibliometric review of cryptocurrencies as a financial asset
2021
Within a decade, cryptocurrencies have captured significant attention. After Bitcoin's emergence in 2008, new cryptocurrencies started to enter the financial market. We use bibliometric analysis to...
The problems and solutions to development of state mediation system: phenomenological aspects / Nacionalinės mediacijos sistemos kūrimo problemos ir …
2012
Research methods based on phenomenological approach in the field of management can help to create a meaningful theoretical framework and guidelines for the needs of improving the management. The article deals with the phenomenological approach in the context of the problem solving of institutionalization process of mediation. Although the work has presented the phenomenon of specific Latvian experience, the used methodology and the results are possible to use also for understanding and solving mediation system problems in other countries. Santrauka Vadovaujantis fenomenologiniu požiūriu pagrįstais tyrimais vadybos mokslo srityje, galima sukurti prasmingus teorinius principus ir nurodymus, r…
Economic reasoning and creative industries progress
2017
ABSTRACTThis article offers a theoretical discussion on how major neoclassical economic theory assumptions blur the understanding of creative industries. By distinguishing between creative-rational and creative-intuitive industries, with different compositions of commercial and cultural attributes, we particularly show how the latter sector has characteristics and dynamics that are incompatible with a theory based on preference rationality, profit maximisation and equal access to information among actors. When customer utility is composed of economic, as well as aesthetic, spiritual, social, historical, symbolic and authenticity values, then all these will affect customers' willingness to p…
Limits and Criticalities of Predictions and Forecasting in Complex Social and Economic Scenarios: A Cybernetics Key
2014
Predictions play a key role in assuring the status of “rationality” in decisions. Nevertheless, in the field of social sciences and economics, predictions fail to correctly depict the oncoming scenarios. Why is it so difficult to achieve quantitative prediction of social and economic systems? Can science provide reliable predictions of social and economic paths that can be used to implement effective interventions? As in the notorious “El Farol bar problem” depicted by Brian Arthur (Am Econ Rev 84:406–411, 1994), the validity of predictive models is more a social issue than a matter of good mathematics. Predictability in social systems is due to limited knowledge of society and human behavi…
The Processing of Medical Images: Principles, Main Applications and Perspectives
2013
This chapter provides an introduction to the basic concepts of medical digital image processing. We kept the mathematical complexity of the chapter at a low level so that life science students can understand the underlying principles behind the methods of analysis and computer-assisted diagnosis.
Social Media Monitoring for Crisis Communication: Process, Methods and Trends in the Scientific Literature
2014
This literature review study aims at clarifying current knowledge on social media monitoring from the perspective of organizational communication and public relations. It also contributes to crisis communication by shedding light on how fast developing social media discourse can be followed and analysed in order to understand citizens’ needs throughout all the phases of a crisis. The findings of this study reveal a number of insights in the scientific literature on the concept of monitoring, the monitoring process, methods, tools and solutions, methodological issues and trends covering the years 2009–2012. In the literature, social media monitoring is described as a process which comprises …
Interprofessional collaboration during an emergency ward’s rounds
2015
Purpose – The purpose of this paper is to explore interprofessional collaboration during ward rounds on a Finnish emergency and infection ward from the viewpoint of three central professional groups: physicians, nurses and secretaries. Design/methodology/approach – The authors utilise an ethnographically informed approach, with observations and interviews as the data collection devices. The data comprise ten interviews with staff members and ten hours of observations. The data were analysed using qualitative thematic analysis. Findings – The ward rounds were found to be rather physician- and medicine-centred, and mostly not interprofessional. Nurses and secretaries in particular expressed …