Search results for "finance"
showing 10 items of 4676 documents
The elasticity of a random variable as a tool for measuring and assessing risks
2022
Elasticity is a very popular concept in economics and physics, recently exported and reinterpreted in the statistical field, where it has given form to the so-called elasticity function. This function has proved to be a very useful tool for quantifying and evaluating risks, with applications in disciplines as varied as public health and financial risk management. In this study, we consider the elasticity function in random terms, defining its probability distribution, which allows us to measure for each stochastic process the probability of finding elastic or inelastic situations (i.e., with elasticities greater or less than 1). This new tool, together with new results on the most notable p…
The reliability of spanish and german electricity forward prices. Databases and price discovery process
2021
Given the existence of different databases from different sources that offer information on forward electricity prices, the need to compare them arises to guarantee that research results and trading decisions based on them are not sensitive to the database used. We worked with forward electricity prices traded over the counter, closest month to maturity, covering the period from 2010 to 2016 for the Spanish over the counter (OTC) market, and from 2008 to 2016 for the German OTC market. The goal of this paper was to test whether there were significant discrepancies between the price series provided by two of the main agencies of financial information (Thomson Reuters and Bloomberg), as well …
Evaluation of Deadweight Spending in Regional Enterprise Financing
2012
Tokila A. and Haapanen M. Evaluation of deadweight spending in regional enterprise financing, Regional Studies. The problem of deadweight spending has been previously studied using diverse methods. However, regional variations in deadweight spending have not yet been considered. An evaluation of regional business subsidies in Finland during 2000–2003 is conducted. The analysis reveals regional differences in deadweight spending in proportional and, particularly, in monetary terms. Deadweight spending is dependent on many firm-, project- and regional-level factors, which also largely account for regional differences. However, there seems to be some regional variation in deadweight spending t…
LAS DEDUCCIONES EN LA CUOTA DIFERENCIAL DEL IRPF POR RAZONES FAMILIARES
2016
En este trabajo se analizan los supuestos previstos en la legislación estatal del IRPF que permiten minorar la cuota diferencial del impuesto con los importes que previamente, con carácter general, se ha cotizado a la Seguridad Social o, en su caso, a la mutualidad alternativa. Y esta minoración se produce siempre por circunstancias familiares. En particular, estas deducciones son las siguientes: - La deducción por maternidad. - La deducción por familia numerosa. - La deducción por personas con discapacidad a cargo, sean ascendientes o descendientes. - Y la deducción por ser un ascendiente separado legalmente, o sin vínculo matrimonial, con dos hijos a cargo, sin derecho a percibir anualida…
Corporate board and default risk of financial firms
2022
This paper analyses the impact of corporate board structure on default risk of European banking firms. We focus on four core aspects of boards that have been addressed in Directive 2013/36/ EU to strengthen the corporate governance of banks: the size of boards, their independence, the participation of female directors and CEO duality. We employ panel data analysis to study the 109 European listed banks between 2002 and 2019. Default risk is estimated by Merton’s (1974) distance to default. We take into account the presence of unobservable heterogeneity, simultaneity and dynamic endogeneity and estimate the model using the dynamic difference and dynamic system GMM methodologies. The results …
Unpopular policies and the theory of representative democracy
1993
Their platforms reflect concern with enhancing the probability of being elected, but some candidates often, or all candidates occasionally, voluntarily adept stances that reduce that probability. Governments care about their popularity, but sometimes they choose, even before an election, to announce or implement policies that are unpopular. For most people, the phenomenon is no news and is not altogether a unhappy one. Deprecating words such as demagogy or "mob rule" and praising ones such as leadership or statesmanship express a deeply-rooted, widelyshared concern about the possibility that democratic politicians could be too subservient to public opinion.(...)
Study Regarding the Effects of Demographic Transition on Labor Market and Public Pension System in Central and Eastern Europe
2020
Abstract Population and the quality of labor force are the “strengths” features’ that ensure socio-economic development of a country. The last decades can be characterized as a transitional period, in which countries of European Union and especially the countries of Central and Eastern Europe are facing a demographic decline. Reduced birth rate, ageing and migration are factors’ which create a lot of pressure, both on labor market and public pension systems, items correlated with the population structure. In this paper we have presented the demographic situation and the size of migration in five countries of Central and Eastern Europe. The direct linkage between population structure, labor …
Las agencias de calificación y la deuda pública en la Comunidad Valenciana
2020
Resumen El objetivo de esta investigación es analizar la influencia que han tenido los mayores niveles de endeudamiento público sobre los ratings emitidos por las agencias de calificación para la Comunidad Valenciana. La acumulación de déficits junto con el estallido de la burbuja inmobiliaria terminó por afectar de manera negativa a la contabilidad pública. Asimismo, los recursos transferidos a través del sistema de financiación tampoco ayudaron a revertir la insuficiencia de ingresos para la administración valenciana. Las restricciones presupuestarias fueron reflejadas de inmediato por las agencias de calificación a través de una reducción en sus ratings, generando dificultades para obten…
Etats de santé et systèmes de soins dans les pays en développement. La contribution des politiques de santé au développement durable
2004
The aim of this article consists in measuring in which way health policies in developing countries are contributing to sustainable development goals. Firstly, a return on the terminology and the abstract contents of the sustainable development allows us to identify it with the cumulative and circular process, according to which the economic growth generates human development. We put secondly in motto the crucial role of health in the maintenance of this virtuous circle, to appreciate the opportunity of health policies in the way they lead to reinforce links between economic growth and human development.
The significance of student voice: female students’ interpretations of failure in Tanzanian secondary education
2014
Abstract: In Tanzania, the national examinations are used as the primary tools for selection and transition from lower to upper secondary education. Female students are more likely to fail in the national exams and to drop out from education. This article examines the perspectives of female students concerning their advancement in secondary education. Two sets of qualitative data, responses to a research questionnaire from 100 female lower secondary school students and follow-up interviews with seven mature students enrolled in a non-formal school who had failed in the national examinations, were analysed to identify critical issues influencing the educational advancement of female students…