Search results for "crisis"
showing 10 items of 860 documents
The Software Crisis of Synthetic Biology
2016
In fifteen years, Synthetic Biology (SB) has moved from proof-of-concept designs to several flagship achievements. Standardisation efforts are still under way, basic engineering concepts such as modularity and orthogonality are still controversial in biology, and making predictions from computer models is still unreliable. A deep characterization in the pattern of re-use of biological blocks in SB has not been attempted to date. We have compared the topological organisation of two different technological networks, one associated to a standard, large-scale software repository and the second provided by the Registry of Standard Biological Parts (RSBP). Our results strongly suggest that softwa…
The Effects of Financial Crisis on the Organizational Reputation of Banks: An Empirical Analysis of Newspaper Articles
2018
The recent financial crisis has triggered an intense debate about the role of banks in society, presumably changing the criteria used in the evaluation of organizations. Against this backdrop, we investigate the changing role of banks’ organizational features in shaping different dimensions of banks’ organizational reputation. Using the media as an important evaluator, we measure the reputational dimension of visibility based on the frequency of newspaper articles and the reputational dimension of favorability based on the sentiment of newspaper articles. Drawing on social judgment research for developing our hypotheses, we expect that organizational features such as financial performance …
Territorial determinants and NUTS-3 regional performance: a spatial analysis for Italy across the crisis
2018
This paper analyses the differential impact of several territorial determinants of the economic performance of Italian provinces (NUTS 3 level). as measured by per capita GDP, export and employment growth from 1999 to 2014. It covers both the pre‐crisis and the crisis period and stresses the role of geographical proximity in shaping local performance over a wide set of explanatory variables. In order to do so, we employ, firstly, a spatial Durbin model which enables us to discriminate between direct and indirect effects and to highlight the possible contagion or crowding‐out spatial effects for each territorial dimension affecting growth. Then, we extend the analysis by allowing for the pos…
A Dynamic Analysis of S&P 500, FTSE 100 and EURO STOXX 50 Indices Under Different Exchange Rates
2017
The persistence analysis of short- and long-term interaction and causality in the international financial markets is a key issue for policy makers and portfolio investors. This paper assesses the dynamic evolution of short-term correlation, long-term cointegration and Error Correction Model (hereafter referred to as ECM)-based long-term Granger causality between each pair of US, UK, and Eurozone stock markets over the period of 1980--2015 using the rolling-window technique. A comparative analysis of pairwise dynamic integration and causality of stock markets, measured in common and domestic currency terms, is conducted to evaluate comprehensively how exchange rate fluctuations affect the ti…
Special Issue on Accounting and Politics
2020
During the last years many things have happened in the European accounting landscape. We observe the new proactive role of the EU Parliament that started in the aftermath of the financial crisis in...
Bank Loan Loss Accounting and Its Contracting Effects: The New Expected Loss Models
2019
As a result of the recent financial crisis, several key institutions urged the IASB and the FASB to re-evaluate their models for loan loss accounting and use more forward-looking information. The paper examines the principal features of the new expected loss approach, taking into account the tensions between accounting and prudential objectives with respect to credit losses. We discuss the rationales for the change introduced by IFRS 9 and explore the differences between the IASB and the FASB models. Based on the notions of accounting conservatism and earnings management, we discuss the potential consequences of the new models. While both the FASB and the IASB model are more conservative th…
Loan loss provisions. A study by economic cycles
2017
Este trabajo estudia los determinantes de las dotaciones para provisiones del deterioro de los créditos en las entidades de crédito españolas desde 1983 al segundo trimestre de 2013. Resultan significativos, además de la morosidad, las provisiones genéricas, el margen de interés, la estacionalidad centrada en el cuarto trimestre y los periodos de crisis. Al ser un periodo extenso se estudian cómo actúan los determinantes en cada uno de los 4 ciclos económicos que se han dado. Se encuentran similitudes importantes en los periodos de crisis y en los periodos de crecimiento, junto a las singularidades de los propios ciclos. Las aportaciones de esta investigación son: i) el diferente comportami…
COVID-19 Crisis - A Test for European Union’s Solidarity
2020
Abstract The crises the European Union has gone through over time have called into question the Union’s legitimacy and efficiency. The 2008-2009 financial crisis, the European debt crisis, the migration crisis and Brexit, have all tested the solidarity between member states. The COVID-19 pandemic is without a doubt the most drastic crisis in the EU’s history, with very severe socioeconomic consequences. The EU leaders were strongly criticized for not reacting quickly and efficiently enough to mitigate the impact of the virus, reduce suffering, and ward off the economic crisis. In this context, the questions that arise are: Is the Union a modern-day Titanic? Will it sink or it will sustain i…
Banks’ business strategies on the edge of distress
2019
AbstractThe paper investigates the importance of banks’ business classification in shaping the risk profile of financial institutions on a global scale. We employ a rare-event logit model based on a state-of-the-art list of major global distress events from the global financial crisis. When clustering banks by their business strategies using a community detection approach, we show that (i) capital enhanced resilience only for traditional banks that were on average less capitalized than other banks; (ii) boosting ROE, usually associated with riskier exposures, improved resilience for stable funded and asset diversified banks; (iii) conversely, higher levels of ROA exacerbated banks’ vulnerab…
Micro and Macro Resilience Measures of an Economic Crisis
2020
Using Italian Households Budget Survey data over the period 1997-2013, a Cragg model in a life-cycle context is specified to compare the consumption behaviour in the pre- and post-crisis time and develop different micro and macro measures of resilience against crisis shocks. Cohort profiles for participation in and for consumption of tourism services in the pre- and post-crisis time are determined so as to explore the households’ resilience by generations. Next, the households’ resilience according to socio-demographic characteristics is addressed. As for the macro-resilience, combining individual expenditure elasticity, we examine whether and how Italian regions have responded to the recen…