Search results for "default"
showing 10 items of 105 documents
Large-scale brain networks emerge from dynamic processing of musical timbre, key and rhythm
2012
We investigated the neural underpinnings of timbral, tonal, and rhythmic features of a naturalistic musical stimulus. Participants were scanned with functional Magnetic Resonance Imaging (fMRI) while listening to a stimulus with a rich musical structure, a modern tango. We correlated temporal evolutions of timbral, tonal, and rhythmic features of the stimulus, extracted using acoustic feature extraction procedures, with the fMRI time series. Results corroborate those obtained with controlled stimuli in previous studies and highlight additional areas recruited during musical feature processing. While timbral feature processing was associated with activations in cognitive areas of the cerebel…
Information acquisition in SME's relationship lending and the cost of loans
2015
Abstract This study analyzes the effect of the reputation SMEs get in a relationship lending on the cost of next loans. A unique dataset of 734 Spanish SMEs' relationship lending provides information on a loan-by-loan basis about the ex post previous loan performance, which measures reputation. No prior empirical research differentiates the cost of loans following a defaulted loan from the costs of those following a successfully repaid loan. Results show that lenders obtain information about borrowers' risk-level during relationship lending and use this information. Loans granted after a successful one pledge significantly lower collateral and interest rate than loans granted after a defaul…
Financial literacy is not enough: The role of nudging toward adequate long-term saving behavior
2020
Abstract This paper analyzes whether nudging has a relevant effect on financially literate individuals, even if these individuals are professionals with extensive experience of finance and pensions. The paper presents the results of a field experiment with employees of a leading life and pensions company in Spain. The results of the experiment show that financial literacy and awareness of the importance of saving are not enough for individuals to act. Even with pension plan experts, the combination of two types of instruments is necessary: rational instruments, such as financial literacy and awareness of the economic implications of retirement, and nudging, which moves individuals to action…
The effect of default options on choice—Evidence from online product configurators
2011
Many firms use product configurators to enable customers to specify their desired products online. In such systems, defaults are pre-specified for levels of product features by the manufacturer or dealer. For example, when configuring a racing bike online, a default is predefined (e.g., the Shimano Ultegra model) for all required features (e.g., the gearshift levers). Such defaults, which may even adapt to previous choices, ensure that a functional and fully defined product emerges at the end of the configuration process. However, when designing sales systems, companies often fail to realize that these defaults also affect customer decision-making. We demonstrate the effect by a study that …
Anticipating bank distress in the Eurozone: An Extreme Gradient Boosting approach
2019
Abstract The banking sector plays a special role in the economy and has critical functions which are essential for economic stability. Hence, systemic banking crises disrupt financial markets and hinder global economic growth. In this study, Extreme Gradient Boosting, a state of the art machine learning method, is applied to identify a set of key leading indicators that may help predict and prevent bank failure in the Eurozone banking sector. The cross-sectional data used in this study consists of 25 annual financial ratio series for commercial banks in the Eurozone. The sample includes Eurozone listed failed and non-failed banks for the period 2006–2016. A number of early warning systems a…
Default Mode Network Efficiency Is Correlated With Deficits in Inhibition in Adolescents With Inhalant Use Disorder
2020
It is well established that alterations in cognitive function and damage to brain structures are often found in adolescents who have substance use disorder (SUD). However, deficits in executive cognitive functioning in adolescents related to the vulnerability and consumption of such substances are not well known. In this study, we use graph theoretic analysis to compare the network efficiency in the resting state for three networks---default mode network (DMN), salience network (SN) and fronto-parietal network (FPN)---between inhalant-consuming adolescents and a control group (12 to 17 years old). We analysed whether the efficiency of these functional networks was related to working memory,…
Adaptive independent vector analysis for multi-subject complex-valued fMRI data.
2017
Abstract Background Complex-valued fMRI data can provide additional insights beyond magnitude-only data. However, independent vector analysis (IVA), which has exhibited great potential for group analysis of magnitude-only fMRI data, has rarely been applied to complex-valued fMRI data. The main challenges in this application include the extremely noisy nature and large variability of the source component vector (SCV) distribution. New method To address these challenges, we propose an adaptive fixed-point IVA algorithm for analyzing multiple-subject complex-valued fMRI data. We exploited a multivariate generalized Gaussian distribution (MGGD)- based nonlinear function to match varying SCV dis…
Credit Risk and Simulated Spreads Risk Adjusted for Italian Regions.
2009
We analyse the idiosyncratic and systematic elements influencing Italian firms’ probability of default (PD) and examine the relationship between credit risk and borrowing conditions at a regional level. This paper, using regression analysis, examines the causal relationship between PD of a representative sample of Italian firms, together with accounting variables at firm level and macroeconomic data. The underlying hypothesis examines if the riskiness of Italian firms is influenced exclusively by their specific characteristics or, more generally, depends also on the spatial environment where they operate. According to the literature, the interregional differentials in the cost of money depe…
Econometric model to estimate the Probability of Default and Loss Given Default in the EBA stress test in 2016
2019
In this research, an econometric with panel data using Ordinary least squares OLS model is constructed following the guidelines recommended by the EBA stress test methodology for 2016. The findings indicate that macroeconomic factors affecting defaults are the expected ones in the Spanish credit institutions. However, loan impairments do not follow the patterns that a priori would be normal. Divergent is outcomes in defaults and impairments: the Non-Performing Loans (NPL) is pro-cyclical and impairment losses are counter-cyclical.
Measurement and Modeling of the Origins of Starvation in Congestion Controlled Mesh Networks
2008
Significant progress has been made in understanding the behavior of TCP and congestion-controlled traffic over multi- hop wireless networks. Despite these advances, however, no prior work identified severe throughput imbalances in the basic scenario of mesh networks, in which one-hop flows contend with two-hop flows for gateway access. In this paper, we demonstrate via real network measurements, test-bed experiments, and an analytical model that starvation exists in such a scenario, i.e., the one-hop flow receives most of the bandwidth while the two- hop flow starves. Our analytical model yields a solution consisting of a simple contention window policy that can be implemented via mechanism…