Risk assessment of credit portfolios is of pivotal importance in the banking industry. The bank that has the most accurate view of its credit risk will be the most profitable. One of the main pillars in the assessing credit risk is the estimated probability of default of each counterparty, i.e., the probability that a counterparty cannot meet its payment obligations in the horizon of one year. A credit rating system takes several characteristics of a counterparty as inputs and assigns this counterparty to a rating class. In essence, this system is a classifier whose classes lie on an ordinal scale. In this paper we apply linear regression ordinal logistic regression, and support vector machine techniques to the credit rating problem. The latter technique is a relatively new machine lear...
... billion (http://www.moeaic.gov.tw/system_external/ctlr?PRO-PublicationLoad&id=83). (2) As such, to p..., MNCs from emerging economies with weak banking systems and underdeveloped debt markets are more l...
... of financial services where many Mexican banks are now partially or completely owned by US financ... management, economics, and information systems to derive our hypotheses. . Economic Motivations: ...
Germany's health insurance system represents the archetype of the healthcare arrangement generally known as the "Bismarck model". Core elements of this model are the management of healthcare by self-governing corporatist bodies and the funding primarily by income-related contributions, not by taxes. The German health care system has been in a dynamic transformation process since the early 1990s. We currently have a situation where elements of different systems exist side by side. In this contribution we argue that this transformation has already robbed the core elements of the Bismarck system of a great deal of their importance, and that it must be expected that their significance will continue to decline as the reform process progresses.
... health insurance system as a "piggy-bank" ("Verschiebebahnhof"), reducing transfers from th...
...Doch fristet der sein Dasein auf der Bank. Als Baumann sein System zur Halbzeit auf zwei St...
In der letzten Woche waren die Banker in London ungewohnt fröhlich. Der überraschende ...
As part of the GLOBE project, this paper explores the societal and the organizational culture of the Romanian finance industry as reflected by middle managers' opinion. The two culture levels are compared across nine cultural dimensions. The differences between the cultural manifestations (practices and values) are analyzed through comparing the middle managers' answers to "what is" and "what should be" type questions at organizational and societal levels. The findings show some significant differences for the majority of the cultural dimensions examined both between culture levels (organizational versus societal) and culture manifestations (practices versus values).
... in the past two decades including banking, insurance, pension funds, financial investment, a... in 1989 Romania operated a monobanking system, today the system comprises 42 credit institutions...
Problems of justice, such as high managerial salaries or the introduction of minimum wages, today arouse a lot of public attention and debate. This hints at the general fact that "justice" cannot be reduced to mere efficiency questions as economists very often tend to assume. Therefore, this paper deals with opportunities to include aspects of social justice in economic analyses. The authors describe the historical development from the Aristotelian concept of justice via the medieval idea of pretium iustum towards the classical liberal approach of Adam Smith. The limits of a pure liberal concept of justice even in modern market societies are revealed which in turn indicate the necessity of an integrated approach that applies the instruments of contemporary economics, but also allows for...
...The 18th century collapse of the feudal system and the triumph of "capitalism" resulted in the de... institutions such as the WTO, World Bank, and IMF. Supply-oriented economic reforms in many...
..., low political risk, and well formulated banking and financial policies (DiMaggio and Powell 1983; ... with strong established innovation systems (UNCTAD 2005). Considering all the above factors, ...
...Hungary introduced a system of import licences targeting second-hand cars, the... in Europe is reportedly facing a bankruptcy threat (FT 2009). Carmakers' profits were also squ...
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