Search results for "credit"
showing 10 items of 503 documents
Tontines and other Forms of Rotating Credit Associations in Africa
2018
The essay is the contribution from Africa to a project related to the history of insurance instruments led by Prof. Phillip Hellwege at the University of Augsburg.
Essays on financial stability: an analysis based on NUTS2 and NUTS3 data for Italy
Probabilistic European Country Risk Score Forecasting Using a Diffusion Model
2013
Over the last few years, global crisis has shaken confidence in most European economies. As a consequence, a lack of confidence has spread amongst European countries leading to Europe’s financial instability. Therefore, forecasting the next future of economic situation involves high levels of uncertainty. In this respect, it would be interesting to use tools which allow to predict the trends and evolution of each country’s confidence rating. The Country Risk Score (CRS) represents a good indicator to measure the current situation of a country regarding measures of economic, political and financial Risk in order to determine country Risk ratings. CRS is underscored by Euromoney Agency and is…
Do microfinance rating assessments make sense? An analysis of the drivers of the MFI ratings
2011
Rating assessments of microfinance institutions are claimed to measure a combination of creditworthiness, trustworthiness and excellence in microfinance. Using a global dataset covering reports from 324 microfinance institutions, this study suggests that these ratings are mainly driven by size, profitability, and risk. The ratings do not seem to capture the double bottom-line objective of microfinance institutions, as our analyses are unable to prove any statistical relationship between microfinance ratings and the social objectives of these institutions. Moreover, the association between operational efficiency and microfinance ratings appears weak. Although there are some minor differences…
The Market Price of Credit Risk and Economic States
2015
This paper proposes a market-wide credit risk factor for the US stock market and investigates its properties that are dependent on economic conditions. The market price of credit risk is found to be statistically significantly negative, supporting earlier studies. However, a sample-split analysis reveals that this negative pay-off is non-existent in a later subsample, indicating that the credit risk puzzle is based on temporary mispricing related to the earlier subsample. Further investigation shows that mispricing in the earlier period was mainly driven by positive pay-offs of low credit risk firms, while high credit risk firms did not generate significant returns in any of the sub-periods.
A BDI agent system for credit risk assessment based on fuzzy logic
2007
Credit risk has always been an important issue for banks and other financial intermediaries. A reliable and consistent computing system is necessary to simplify the decision making process in uncertain domains such as the assessment of credit risk. In recent years fuzzy logic techniques have been in their wide-ranging use in modeling of uncertainties, vagueness, impreciseness and the human thought process. Therefore in this paper we present a fuzzy logic based intelligent system for the assessment of credit risk. It aims at efficiently and intelligently managing the process, handling its complexity, and monitoring large amounts of dynamic information in a distributed way, by using a society…
Reglement des kurländischen Creditvereins
1877
Inhalt: Teil I. Das am 18./30/ Mai 1874 Allerhöchst bestätigte Reglement nebst Einschaltungen -- Theil II. Das Taxations-Reglement.
Jus percipiendi pecuniam: credito e rendite fra XIII e XIV secolo
2020
The article reconstructs the intellectual process through which the right to perceive annuities (jus percipiendi pecuniam) was identified. This conceptual and juridical instrument was of great importance for the functioning of an economy largely based on the circulation of annuities, such as that existing between the Middle Age and the Renaissance. At the centre of this intellectual process there were, on the one hand, the theory of the divided domunium, through which the dominium eminens was to be distinguished from the dominium utilis, and on the other the debate concerning the management of the res ecclesiae and the use of goods, which concentrated on the relations between usus-fructus a…