Search results for: bank financial distress
3442 Internet-Delivered Cognitive Behaviour Therapy for Depression Comorbid with Diabetes: Preliminary Findings
Authors: Lisa Robins, Jill Newby, Kay Wilhelm, Therese Fletcher, Jessica Smith, Trevor Ma, Adam Finch, Lesley Campbell, Jerry Greenfield, Gavin Andrews
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Background:Depression treatment for people living with depression comorbid with diabetes is of critical importance for improving quality of life and diabetes self-management, however depression remains under-recognised and under-treated in this population. Cost—effective and accessible forms of depression treatment that can enhance the delivery of mental health services in routine diabetes care are needed. Provision of internet-delivered Cognitive Behaviour Therapy (iCBT) provides a promising way to deliver effective depression treatment to people with diabetes. Aims:To explore the outcomes of the clinician assisted iCBT program for people with comorbid Major Depressive Disorder (MDD) and diabetes compared to those who remain under usual care. The main hypotheses are that: (1) Participants in the treatment group would show a significant improvement on disorder specific measures (Patient Health Questionnaire; PHQ-9) relative to those in the control group; (2) Participants in the treatment group will show a decrease in diabetes-related distress relative to those in the control group. This study will also examine: (1) the effect of iCBT for MDD on disability (as measured by the SF-12 and SDS), general distress (as measured by the K10), (2) the feasibility of these treatments in terms of acceptability to diabetes patients and practicality for clinicians (as measured by the Credibility/Expectancy Questionnaire; CEQ). We hypothesise that associated disability, and general distress will reduce, and that patients with comorbid MDD and diabetes will rate the program as acceptable. Method:Recruit 100 people with MDD comorbid with diabetes (either Type 1 or Type 2), and randomly allocate to: iCBT (over 10 weeks) or treatment as usual (TAU) for 10 weeks, then iCBT. Measure pre- and post-intervention MDD severity, anxiety, diabetes-related distress, distress, disability, HbA1c, lifestyle, adherence, satisfaction with clinicians input and the treatment. Results:Preliminary results comparing MDD symptom levels, anxiety, diabetes-specific distress, distress, disability, HbA1c levels, and lifestyle factors from baseline to conclusion of treatment will be presented, as well as data on adherence to the lessons, homework downloads, satisfaction with the clinician's input and satisfaction with the mode of treatment generally.Keywords: cognitive behaviour therapy, depression, diabetes, internet
Procedia PDF Downloads 4863441 Bird-Adapted Filter for Avian Species and Individual Identification Systems Improvement
Authors: Ladislav Ptacek, Jan Vanek, Jan Eisner, Alexandra Pruchova, Pavel Linhart, Ludek Muller, Dana Jirotkova
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One of the essential steps of avian song processing is signal filtering. Currently, the standard methods of filtering are the Mel Bank Filter or linear filter distribution. In this article, a new type of bank filter called the Bird-Adapted Filter is introduced; whereby the signal filtering is modifiable, based upon a new mathematical description of audiograms for particular bird species or order, which was named the Avian Audiogram Unified Equation. According to the method, filters may be deliberately distributed by frequency. The filters are more concentrated in bands of higher sensitivity where there is expected to be more information transmitted and vice versa. Further, it is demonstrated a comparison of various filters for automatic individual recognition of chiffchaff (Phylloscopus collybita). The average Equal Error Rate (EER) value for Linear bank filter was 16.23%, for Mel Bank Filter 18.71%, the Bird-Adapted Filter gave 14.29%, and Bird-Adapted Filter with 1/3 modification was 12.95%. This approach would be useful for practical use in automatic systems for avian species and individual identification. Since the Bird-Adapted Filter filtration is based on the measured audiograms of particular species or orders, selecting the distribution according to the avian vocalization provides the most precise filter distribution to date.Keywords: avian audiogram, bird individual identification, bird song processing, bird species recognition, filter bank
Procedia PDF Downloads 3823440 Regulation of the Commercial Credits in the Foreign Exchange Operations
Authors: Marija Vicic
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The purpose of commercial credit regulation in an unified way under Law on Foreign Exchange Operations in Republic of Serbia allows an easier state monitoring of credit operations performed by non-professionals on foreign exchange market. By broadly defining the term “commercial credits“, the state (i.e. National Bank of Serbia) is given the authority to monitor the performance of all obligations under commercial contracts in which the obligations are not performed simultaneously. In the first part of the paper, the author analyses the economic gist of commercial credits with the purpose of giving an insight into their special treatment. The author examines the term „commercial credits“ given in Law on foreign exchange operations and the difference between financial credits and irregular commercial credits (exports and imports of goods and services deemed to be commercial credits) is particularly highlighted. In the second part, the author emphasizes the specifics of commercial credit contracts, especially the effects of special requests for the parties to these contracts to notify National Bank of Serbia and specific regulations regarding maturity of obligations under these commercial credits and the assignment and compensation of the said contracts.Keywords: commercial credit, foreign exchange operations, commercial transactions, deferred payment, advance payment, (non) resident
Procedia PDF Downloads 4153439 Self-Care and Risk Behaviors in Primary Caregiver of Cancer Patients
Authors: Ivonne N. Pérez-Sánchez. María L. Rascón- Gasca, Angélica Riveros-Rosas, Rebeca Robles García
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Introduction: Primary caregivers of cancer patients have health problems related to their lack of time, stress, and fiscal strain. Their health problems could affect their patients’ health and also increase the expenses in public health. Aim: To describe self-care and risk behaviors in a sample of Mexican primary caregiver and the relation of these behaviors with emotional distress (caregiver burden, anxiety and depression symptoms), coping and sociodemographic variables. Method: Participated in this study 173 caregivers of a third level reference medical facility (age: M=49.4, SD=13.5) females 78%, males 22%, 57.5% were caregivers of patients with terminal cancer (CPTC), and 40.5% were caregivers of patients on oncology treatment (CPOT). Results: The 75.7% of caregivers reported to have had health problem in last six months as well as several symptoms which were related to emotional distress, these symptoms were more frequently between CPTC and female caregivers. A half (47.3%) of sample reported have had difficulties in caring their health; these difficulties were related to emotional distress and lower coping, more affected caregivers were who attend male patients and CPTC. The 76.8% of caregivers had health problems in last six months, but 26.5% of them waited to search medical care until they were very sick, and 11% didn't do it. Also, more than a half of sample (56.1%) admitted to have risk behaviors as drink alcohol, smoke or overeating for feeling well, these caregivers showed high emotional distress and lower coping. About caregivers healthy behaviors, 80% of them had a hobby; 27.2% do exercise usually and between 12% to 60% did medical checkups (glucose tests, blood pressure and cholesterol tests, eye exams and watched their weight), these caregivers had lower emotional distress and high coping, some variables related health behaviors were: care only one patient or a female patient and be a CPOT, social support, high educational level and experience as a caregiver in past. The half of caregivers were worrying to develop cancer in the future; this idea was 2.5 times more frequent in caregiver with problems to care their health. Conclusions: The results showed a big proportion of caregivers with medical problems. High emotional distress and low coping were related to physical symptoms, risk behaviors, and low self-care; poor self-care was frequently even in caregiver who have chronic illness.Keywords: cancer, primary caregiver, risk behaviors, self-care
Procedia PDF Downloads 4003438 The Relationship between Central Bank Independence and Inflation: Evidence from Africa
Authors: R. Bhattu Babajee, Marie Sandrine Estelle Benoit
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The past decades have witnessed a considerable institutional shift towards Central Bank Independence across economies of the world. The motivation behind such a change is the acceptance that increased central bank autonomy has the power of alleviating inflation bias. Hence, studying whether Central Bank Independence acts as a significant factor behind the price stability in the African economies or whether this macroeconomic aim in these countries result from other economic, political or social factors is a pertinent issue. The main research objective of this paper is to assess the relationship between central bank autonomy and inflation in African economies where inflation has proved to be a serious problem. In this optic, we shall measure the degree of CBI in Africa by computing the turnover rates of central banks governors thereby studying whether decisions made by African central banks are affected by external forces. The purpose of this study is to investigate empirically the association between Central Bank Independence (CBI) and inflation for 10 African economies over a period of 17 years, from 1995 to 2012. The sample includes Botswana, Egypt, Ghana, Kenya, Madagascar, Mauritius, Mozambique, Nigeria, South Africa, and Uganda. In contrast to empirical research, we have not been using the usual static panel model for it is associated with potential mis specification arising from the absence of dynamics. To this issue a dynamic panel data model which integrates several control variables has been used. Firstly, the analysis includes dynamic terms to explain the tenacity of inflation. Given the confirmation of inflation inertia, that is very likely in African countries there exists the need for including lagged inflation in the empirical model. Secondly, due to known reverse causality between Central Bank Independence and inflation, the system generalized method of moments (GMM) is employed. With GMM estimators, the presence of unknown forms of heteroskedasticity is admissible as well as auto correlation in the error term. Thirdly, control variables have been used to enhance the efficiency of the model. The main finding of this paper is that central bank independence is negatively associated with inflation even after including control variables.Keywords: central bank independence, inflation, macroeconomic variables, price stability
Procedia PDF Downloads 3603437 A Literature Review on the Effect of Financial Knowledge toward Corporate Growth: The Important Role of Financial Risk Attitude
Authors: Risna Wijayanti, Sumiati, Hanif Iswari
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This study aims to analyze the role of financial risk attitude as a mediation between financial knowledge and business growth. The ability of human resources in managing capital (financial literacy) can be a major milestone for a company's business to grow and build its competitive advantage. This study analyzed the important role of financial risk attitude in bringing about financial knowledge on corporate growth. There have been many discussions arguing that financial knowledge is one of the main abilities of corporate managers in determining the success of managing a company. However, a contrary argument of other scholars also enlightened that financial knowledge did not have a significant influence on corporate growth. This study used literatures' review to analyze whether there is another variable that can mediate the effect of financial knowledge toward corporate growth. Research mapping was conducted to analyze the concept of risk tolerance. This concept was related to people's risk aversion effects when making a decision under risk and the role of financial knowledge on changes in financial income. Understanding and managing risks and investments are complicated, in particular for corporate managers, who are always demanded to maintain their corporate growth. Substantial financial knowledge is extremely needed to identify and take accurate information for corporate financial decision-making. By reviewing several literature, this study hypothesized that financial knowledge of corporate managers would be meaningless without manager's courage to bear risks for taking favorable business opportunities. Therefore, the level of risk aversion from corporate managers will determine corporate action, which is a reflection of corporate-level investment behavior leading to attain corporate success or failure for achieving the company's expected growth rate.Keywords: financial knowledge, financial risk attitude, corporate growth, risk tolerance
Procedia PDF Downloads 1253436 Information on Financial Statements for Loan Decision-Making of Commercial Banks in Vietnam
Authors: Mai Hoang Minh
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Financial statements (FS) are tools which provide information to users for making business decisions. This article is going to present the survey which clarifies the role of financial statement to Commercial Banks’ loan decisions in Vietnam. Moreover, this also discusses about financial statement’s quality currently, thereby making suggestions for enterprises to enhance the usefulness of accounting information in borrowing activities.Keywords: usefulness of financial statement, accounting information quality, loan decisions
Procedia PDF Downloads 2703435 Environmental Sustainability and Energy Consumption: The Role of Financial Development in OPEC-1 Countries
Authors: Isah Wada
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The current research investigates the role of financial development in an environmental sustainability-energy consumption nexus for OPEC-1 member countries. The empirical findings suggest that financial development increases environmental sustainability but energy consumption and real output expansion diminishes environmental sustainability, generally. Thus, whilst real output and financial development accelerates energy consumption, environmental sustainability quality diminishes clean energy initiatives. Even more so, energy consumption and financial development stimulates real output growth. The result empirically demonstrates that policy advocates must address broader issues relating to financial development whilst seeking to achieve environmental sustainability due largely to energy consumption.Keywords: energy consumption, environmental sustainability, financial development, OPEC, real output
Procedia PDF Downloads 1833434 Financial Regulation and the Twin Peaks Model in a Developing and Developed Country Contexts: An Institutional Theory Perspective
Authors: Pumela Msweli, Dexter L. Ryneveldt
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This paper seeks to shed light on institutional logics and institutionalization processes that influence the successful implementation of financial sector regulations. We use the neo-institutional theory lens to interrogate how the newly promulgated Financial Sector Regulations Act (FSRA) provides for the institutionalisation of the Twin Peaks Model. With the enactment of FSRA, previous financial regulatory institutions were dismantled, and new financial regulators established. In point, the Financial Services Conduct Authority (FSCA) replaced the Financial Services Board (FSB), and accordingly, the Prudential Authority (PA) was established. FSRA is layered with complexities that make it mandatory to co-exist, cooperate, and collaborate with other institutions to fulfill FSRA’s overall financial stability objective. We use content analysis of the financial regulations that established the Twin Peaks Models (TPM) in South Africa and in the Netherlands, to map out the three-stage institutionalization processes: (1) habitualisation, (2) objectification and (3) sedimentation. This allowed for a comparison of how South Africa, as a developing country and Netherlands as a developed country, have institutionalized the Twin Peak model. We provide valuable insights into how differences in the institutional and societal logics of the developing and developed contexts shape the institutionalization of financial regulations.Keywords: financial industry, financial regulation, financial stability, institutionalisation, habitualization, objectification, sedimentation, twin peaks model
Procedia PDF Downloads 1513433 Actual and Perceived Financial Sophistication and Wealth Accumulation: The Role of Education and Gender
Authors: Christina E. Bannier, Milena Neubert
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This study examines the role of actual and perceived financial sophistication (i.e., financial literacy and confidence) for individuals’ wealth accumulation. Using survey data from the German SAVE initiative, we find strong gender- and education-related differences in the distribution of the two variables: Whereas financial literacy rises in formal education, confidence increases in education for men but decreases for women. As a consequence, highly-educated women become strongly underconfident, while men remain overconfident. We show that these differences influence wealth accumulation: The positive effect of financial literacy is stronger for women than for men and is increasing in women’s education but decreasing in men’s. For highly-educated men, however, overconfidence closes this gap by increasing wealth via stronger financial engagement. Interestingly, female underconfidence does not reduce current wealth levels though it weakens future-oriented financial engagement and may thus impair future wealth accumulation.Keywords: financial literacy, financial sophistication, confidence, wealth, household finance, behavioral finance, gender, formal education
Procedia PDF Downloads 2623432 E-Government Development in Nigeria, 'Bank Verification No': An Anti-Corruption Tool
Authors: Ernest C. Nwadinobi, Amanda Peart, Carl Adams
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The leading countries like the USA, UK and some of the European countries have moved their focus away from just developing the e-government platform towards just the electronic services which aim at providing access to information to its citizens or customers, but they have gone to make significant backroom changes that can accommodate this electronic service being provided to its customers or citizens. E-government has moved from just providing electronic information to citizens and customers alike to serving their needs. In developing countries like Nigeria, the enablement of e-government is being used as an anti-corruption tool. The introduction of the Bank verification number (BVN) scheme by the Central Bank of Nigeria, has helped the government in not just saving money but also protecting customer’s transaction and enhancing confidence in the banking sector. This has helped curtail the high rate of cyber and financial crime that has been part of the system. The use of BVN as an anti-corruption tool in Nigeria came at a time there was need for openness, accountability, and discipline, after years of robbing the treasury and recklessness in handling finances. As there has not been a defined method for measuring the strength or success of e-government development, in this case BVN, in Nigeria, progress will remain at the same level. The implementation strategy of the BVN in Nigeria has mostly been a quick fix, quick win solution. In fact, there is little or no indication to show evidence of a framework for e-government. Like other leading countries, there is the need for proper implementation of strategy and framework especially towards a customer orientated process, which will accommodate every administrative body of the government institution including private business rather than focusing on a non-flexible organisational structure. The development of e-government must have a strategy and framework for it to work, and this strategy must enclose every public administration and will not be limited to any individual bodies or organization. A defined framework or monitoring method must be put in place to help evaluate and benchmark government development in e-government. This framework must follow the same concept or principles. In censorious analyses of the existing methods, this paper will denote areas that must be included in the existing approach to be able to channel e-government development towards its defined strategic objectives.Keywords: Bank Verification No (BVN), quick-fix, anti-corruption, quick-win
Procedia PDF Downloads 1553431 Developmental Trajectories of Distress and Suicide Risk Following Exposure to Military Sexual Trauma in US Military Service Members
Authors: Rebecca K. Blais, Lindsey Monteith, Hallie Tannahill
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Military sexual trauma (MST) includes sexual harassment or assault that occurred during military service. Studies conducted to date on the association of MST with mental health and suicide outcomes are generally circumscribed to either active duty or veteran samples, precluding a thorough analysis of developmental trajectories of distress following MST within the context of ongoing (vs. discharged from) military service. The Military Social Science Laboratory has collected data on mixed service samples of men and women service members, addressing this important literature gap. The purpose of this study was to examine the association of MST, suicide risk, PTSD, depression, alcohol use, and posttraumatic cognitions using two separate samples, which collectively allow for a comprehensive examination of the development of distress following MST. The first sample consisted of 1389 men and women service members and veterans with varying levels of MST severity, including no MST, harassment-only MST, and assault MST. The second sample consisted of 400 men and women service members, all reporting the highest severity of MST, assault MST. In both samples, roughly half reported being discharged from service. Participants completed self-report measures of MST exposure severity, suicide ideation, suicide risk, PTSD, depression, alcohol misuse, and posttraumatic cognitions, as well as perceptions of how the military responded to their MST. Relative to those still serving in the US military, veterans were more likely to endorse suicidal ideation, higher PTSD symptoms, and higher depression symptoms if they felt the military mishandled their experience of MST (referred to as perceived institutional betrayal). However, among those reporting the most severe MST, veterans reported lower alcohol misuse and more adaptive posttraumatic cognitions. These findings suggest that those separated from the military experience different posttraumatic aftermath following MST relative to those who are currently serving in the military. Such findings suggest critical differences in the developmental trajectory of distress, necessitating different interventions to successfully reduce distress and dysfunction. Additional analyses will explore the impact of gender on these associations and explore full mechanistic models of distress grouped by discharged status.Keywords: military sexual trauma, PTSD, suicide, developmental trajectories, depression
Procedia PDF Downloads 1213430 Chern-Simons Equation in Financial Theory and Time-Series Analysis
Authors: Ognjen Vukovic
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Chern-Simons equation represents the cornerstone of quantum physics. The question that is often asked is if the aforementioned equation can be successfully applied to the interaction in international financial markets. By analysing the time series in financial theory, it is proved that Chern-Simons equation can be successfully applied to financial time-series. The aforementioned statement is based on one important premise and that is that the financial time series follow the fractional Brownian motion. All variants of Chern-Simons equation and theory are applied and analysed. Financial theory time series movement is, firstly, topologically analysed. The main idea is that exchange rate represents two-dimensional projections of three-dimensional Brownian motion movement. Main principles of knot theory and topology are applied to financial time series and setting is created so the Chern-Simons equation can be applied. As Chern-Simons equation is based on small particles, it is multiplied by the magnifying factor to mimic the real world movement. Afterwards, the following equation is optimised using Solver. The equation is applied to n financial time series in order to see if it can capture the interaction between financial time series and consequently explain it. The aforementioned equation represents a novel approach to financial time series analysis and hopefully it will direct further research.Keywords: Brownian motion, Chern-Simons theory, financial time series, econophysics
Procedia PDF Downloads 4673429 Developing a HSE-Finacial Indicator Model in Oil Industry
Authors: Reza Safari, Ali Rajabzadeh Ghatari, Raheleh Hossseinzadeh Mahabadi
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In the present world, there are different pressures on firms such as competition, legislations, social etc. these pressures force the firms to follow “survival” as their primary goal and then growth. One of the main factors that helps firms to reach their goals is proper financial performance. To find out about the financial performance, a firm should monitors its financial performance. Financial performance affected by many factors. This research seeks to clear which financial performance indicators are most important according to Environmental situation of a firm and what are their priorities. To do so, environmental indicators specified as presented on OECD Key Environmental Indicators 2008 and so the financial performance indicators such as Profitability, Liquidity, Gearing, Investor ratios, and etc. At this stage, the affections questioned through questionnaires. After gaining the results, data analyzed using Promethee technique. By using decision matrixes extracted from those techniques an expert system designed. This expert system suggests the suitable financial performance indicators and their ranking by receiving the environment situation given environment indicators weight.Keywords: environment indicators, financial performance indicators, promethee, expert system
Procedia PDF Downloads 4323428 Financial Instrument with High Investment Risk on the Warsaw Stock Exchange
Authors: Piotr Prewysz-Kwinto
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The market of financial instruments with high risk is developing very dynamically in recent years and attracts more and more interest of investors. It consists essentially of two groups of instruments, i.e. derivatives and exchange traded product (ETP), and each year new types are introduced and offered to investors. The aim of this paper is to present the principles concerning financial instruments with high investment risk available on the Warsaw Stock Exchange (WSE), because they have quite complex constructions, and to evaluate the development of this market. In order to achieve this aim, statistical data from 2014-2016 was analyzed. The results confirm that the financial instruments with high investment risk available on the WSE constitute a diversified and the most numerous group of financial instruments and attract the most interest of investors. Responsible investing requires, however, a good knowledge of how they work and how they can generate profit to not expose oneself to unexpected losses.Keywords: derivatives, exchange traded products (ETP), financial instruments, financial market, risk, stock exchange
Procedia PDF Downloads 3743427 Value Creation of My Health Bank of National Health Insurance: Service Dominant Logic Perspective
Authors: Yu Hua Yan
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Background: This research attempts to extend and apply the concept of service dominant logic on My Health Bank platform, analyzed to find out are there any significant difference in wills to participate (potential factors for value) on the results of value co-creation? Methods: The questionnaires were delivered from August 2017 to October 2017 in hospitals. 167 valid ones were received, with an effective response rate of 98.2%. Results: This research employed the questionnaire method in collecting research data, with patients that have used My Health Bank as objects, to whom questionnaires were sent. Regarding the factors influencing therapeutic effects, in the statistics of capability and interaction, it reached a significant level (p <0.1). Regarding the factors influencing satisfaction on medical service, in the statistics of capability and interaction, it reached a significant level (p <0.001). Conclusion: Regarding the contributions of this research, it is possible to clarify its contents with the studies on value co-creation to enrich the literature of the studies of service dominant logic and value co-creation in Taiwan. Regarding its contribution in practice, the results of this research allows the value advocator – the government, to have a broader view in the consideration of making the policies on value co-creation.Keywords: My Health Bank, interactive, participation, value creation
Procedia PDF Downloads 1603426 Climate Related Financial Risk on Automobile Industry and the Impact to the Financial Institutions
Authors: Mahalakshmi Vivekanandan S.
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As per the recent changes happening in the global policies, climate-related changes and the impact it causes across every sector are viewed as green swan events – in essence, climate-related changes can often happen and lead to risk and a lot of uncertainty, but needs to be mitigated instead of considering them as black swan events. This brings about a question on how this risk can be computed so that the financial institutions can plan to mitigate it. Climate-related changes impact all risk types – credit risk, market risk, operational risk, liquidity risk, reputational risk and other risk types. And the models required to compute this has to consider the different industrial needs of the counterparty, as well as the factors that are contributing to this – be it in the form of different risk drivers, or the different transmission channels or the different approaches and the granular form of data availability. This brings out the suggestion that the climate-related changes, though it affects Pillar I risks, will be a Pillar II risk. This has to be modeled specifically based on the financial institution’s actual exposure to different industries instead of generalizing the risk charge. And this will have to be considered as the additional capital to be met by the financial institution in addition to their Pillar I risks, as well as the existing Pillar II risks. In this paper, the author presents a risk assessment framework to model and assess climate change risks - for both credit and market risks. This framework helps in assessing the different scenarios and how the different transition risks affect the risk associated with the different parties. This research paper delves into the topic of the increase in the concentration of greenhouse gases that in turn cause global warming. It then considers the various scenarios of having the different risk drivers impacting the Credit and market risk of an institution by understanding the transmission channels and also considering the transition risk. The paper then focuses on the industry that’s fast seeing a disruption: the automobile industry. The paper uses the framework to show how the climate changes and the change to the relevant policies have impacted the entire financial institution. Appropriate statistical models for forecasting, anomaly detection and scenario modeling are built to demonstrate how the framework can be used by the relevant agencies to understand their financial risks. The paper also focuses on the climate risk calculation for the Pillar II Capital calculations and how it will make sense for the bank to maintain this in addition to their regular Pillar I and Pillar II capital.Keywords: capital calculation, climate risk, credit risk, pillar ii risk, scenario modeling
Procedia PDF Downloads 1323425 Customer’s Choice of a Bank: An Empirical Enquiry from the Banked Ghanaian
Authors: Emmanuel Larbi Offei, Felix Agyei-Sasu, Maura Naa Densua Ashong
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Ghana has 26 universal banks and several banking and non-banking financial institutions operating in the country. The growing number of banks has heightened competition among banks to attract and retain customers more customers to ensure sustainability. Hence the need to identify and understand factors that influences customers’ choice of banks cannot be overemphasised. This study investigates the determinants of bank selection criteria by banking customers in Ghana. Four banks were purposively sampled for this study namely Barclays, Standard Chartered, Sahel Sahara and Unibank. Convenience sampling was then used to select 114 bank customers in Accra and interviewed. Questionnaires were used to collect data that were analysed in tables and charts with the use of STATA software. The findings of the study revealed that quick/prompt services and complaint handling, safety of funds, networked branches, easy access to functional Automated Teller Machines (ATMs) and low/moderate service charges were the major determinants of customers’ choice of banks. The results further show that 89.5 percent of all deposits are held in either current or savings accounts. About 22.1 percent of the respondents indicated that they have plans of changing their banks in the near future because they are not satisfied with their banks. A gender analysis of the choice criteria showed differences between the choice criteria of the male as compared to the female. The study recommends that banks in Ghana should focus on products and policies that will not compromise on the safety of funds of their customers. Again, banks must address customer complaints and dissatisfactions as promptly as possible by taking pragmatic steps to address administrative bureaucracies and infrastructural challenges that prolong the duration of banking transactions.Keywords: Ghana, banks, determinants, customers’ choice, competition
Procedia PDF Downloads 4323424 The Reliability of Management Earnings Forecasts in IPO Prospectuses: A Study of Managers’ Forecasting Preferences
Authors: Maha Hammami, Olfa Benouda Sioud
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This study investigates the reliability of management earnings forecasts with reference to these two ingredients: verifiability and neutrality. Specifically, we examine the biasedness (or accuracy) of management earnings forecasts and company specific characteristics that can be associated with accuracy. Based on sample of 102 IPO prospectuses published for admission on NYSE Euronext Paris from 2002 to 2010, we found that these forecasts are on average optimistic and two of the five test variables, earnings variability and financial leverage are significant in explaining ex post bias. Acknowledging the possibility that the bias is the result of the managers’ forecasting behavior, we then examine whether managers decide to under-predict, over-predict or forecast accurately for self-serving purposes. Explicitly, we examine the role of financial distress, operating performance, ownership by insiders and the economy state in influencing managers’ forecasting preferences. We find that managers of distressed firms seem to over-predict future earnings. We also find that when managers are given more stock options, they tend to under-predict future earnings. Finally, we conclude that the management earnings forecasts are affected by an intentional bias due to managers’ forecasting preferences.Keywords: intentional bias, management earnings forecasts, neutrality, verifiability
Procedia PDF Downloads 2303423 Financial Literacy and Stock Market Participation: Does Gender Matter?
Authors: Irfan Ullah Munir, Shen Yue, Muhammad Shahzad Ijaz, Saad Hussain, Syeda Yumna Zaidi
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Financial literacy is fundamental to every decision-making process and has received attention from researchers, regulatory bodies and policy makers in the recent past. This study is an attempt to evaluate financial literacy in an emerging economy, particularly Pakistan, and its influence on people's stock market participation. Data of this study was collected through a structured questionnaire from a sample of 300 respondents. EFA is used to check the convergent and discriminant validity. Data is analyzed using Hayes (2013) approach. A set of demographic control variables that have passed the mean difference test is used. We demonstrate that participants with financial literacy tend to invest more in the stock market. We also find that association among financial literacy and participation in stock market gets moderated by gender.Keywords: Financial literacy, Stock market participation, Gender, PSX
Procedia PDF Downloads 1913422 Effect of Islamic Finance on Jobs Generation in Punjab, Pakistan
Authors: B. Ashraf, A. M. Malik
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The study was accomplished at the Department of Economics and Agriculture Economics, Pir Mahar Ali Shah ARID Agriculture University, Punjab, Pakistan during 2013-16 with a purpose to discover the effect of Islamic finance/banking on employment in Punjab, Pakistan. Islamic banking system is sub-component of conventional banking system in various countries of the world; however, in Pakistan, it has been established as a separate Islamic banking system. The Islamic banking operates under the doctrine of Shariah. It is claimed that the referred banking is free of interest (Riba) and addresses the philosophy and basic values of Islam in finance that reduces the factors of uncertainty, risk and others speculative activities. Two Islamic bank’s; Meezan Bank Limited (Pakistan) and Al-Baraka Bank Limited (Pakistan) from North Punjab (Bahawalnagar) and central Punjab (Lahore) west Punjab (Gujrat), Pakistan were randomly selected for the conduct of research. A total of 206 samples were collected from the define areas and banks through questionnaire. The data was analyzed by using the Statistical Package for Social Sciences (SPSS) version 21.0. Multiple linear regressions were applied to prove the hypothesis. The results revealed that the assets formation had significant positive; whereas, the technology, length of business (experience) and bossiness size had significant negative impact with employment generation in Islamic finance/banking in Punjab, Pakistan. This concludes that the employment opportunities may be created in the country by extending the finance to business/firms to start new business and increase the Public awareness by the Islamic banks through intensive publicity. However; Islamic financial institutions may be encouraged by Government as it enhances the employment in the country.Keywords: assets formation, borrowers, employment generation, Islamic banks, Islamic finance
Procedia PDF Downloads 3153421 Share Pledging and Financial Constraints in China
Authors: Zijian Cheng, Frank Liu, Yupu Sun
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The relationship between the intensity of share pledging activities and the level of financial constraint in publicly listed firms in China is examined in this paper. Empirical results show that the high financial constraint level may motivate insiders to use share pledging as an alternative funding source and an expropriation mechanism. Share collateralization can cause a subsequently more constrained financing condition. Evidence is found that share pledging made by the controlling shareholder is likely to mitigate financial constraints in the following year. Research findings are robust to alternative measures and an instrumental variable for dealing with endogeneity problems.Keywords: share pledge, financial constraint, controlling shareholder, dividend policy
Procedia PDF Downloads 1573420 Investigating the Factors Affecting the Household Accounting of People in Bangkeaw Samutsongkhram
Authors: Khajeerat Phumpurk
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This research aims to study the knowledge, attitude toward household accounting of people in Bangkeaw Samutsongkhram. The sample use in this study was the people in tambol bangkeao Mueang Samut songkhram province. The Sample size for 100 household by using the accidental sampling and data collection was a questionnaire. Statistical analysis for frequency, percentage, mean, minimum, maximum value and standard deviation. It was found that the most of the respondent are farmers for 63.4. Most of them are male, with average of age 49.54 years. The education is vocational. The average household income is 60,873.74 per year. The respondent has the debt with the bank for 64.4 percent. The greatest influence to do the household accounting of farmers is the bank expertise. All the advice about doing household accounts get it from the staff of the bank for agriculture and agricultural cooperatives. The farmers for 57.3 do household accounting during the night time.Keywords: Bangkeaw Samutsongkhram, household accounting, knowledge, sufficiency economy
Procedia PDF Downloads 2173419 Value Creation of Public Financial Management Reforms through Their Long-Term Impacts
Authors: Christoph Schuler, Oriana Ponta
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Public Financial Management (PFM) reforms are promoted by various international organizations such as the International Monetary Fund (IMF) or the World Bank, local development banks and the donor country community to strengthen governance and accountability in developing countries across the world. Reform efforts undertaken are often systematically measured against international best practice by the application of standardized analytical instruments such as the Public Expenditure and Financial Accountability Framework (PEFA) or the Poverty Reduction Action Plan (PARP). While those instruments analyze direct achievements of PFM reforms, the long-term benefits of such reforms for society remain untapped. This gives rise to the question why the concept of impact evaluation with its experimental or quasi-experimental settings in the form of randomized control trials has rarely been applied in the context of PFM reforms. To close this gap, this study provides examples where the concept of impact evaluation can be applied to PFM reforms and thereby shifting the focus from outcome towards a long-term impact. As it is a new approach, this study does not attempt to conduct a fully flagged impact evaluation of a certain PFM reform. However, it will outline, as a form of pre-test the applicability of the impact evaluation methodology in this context, for example, by more closely analyzing the commonly used indicators (for example within PEFA or PARP). This would mean to scrutinize these indicators as to how they were designed and how they are related to the long-term impact, they should be producing. The analysis of PFM reform indicators and their relation to long-term impacts should provide practitioners and scholars alike with new insights on how to strengthen the accountability of public service delivery through successful and sustainable PFM reforms.Keywords: accountability, impact evaluation, PFM reforms, public financial management
Procedia PDF Downloads 3173418 Assessment of Green Finance, Financial Technology and Financial Inclusion on Green Energy Efficiency in Pakistan
Authors: Muhammad Irfan
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The UN General Assembly has advocated improving energy efficiency by SDG criteria to promote global economic growth. Pakistan is confronted with financial obstacles when it comes to acquiring energy efficiency because of the COVID-19 pandemic, economic and political instability, budgetary strains, and poor financial circumstances. The study examines how cutting-edge financing approaches like FinTech, financial inclusion, and green financing affect Pakistan's energy consumption. It finds noteworthy outcomes. The study's results have demonstrated the important impact of these funding methods on energy conservation. The best and most helpful finance tool for energy efficiency is green financing; yet, because of differences in characteristics, workings, and financial institutions, FinTech, and financial inclusion play a smaller role in Pakistan. The researchers propose that to achieve energy efficiency, FinTech activities and funding criteria such as green bonds should be reviewed. It also advised authorities to create energy system-friendly regulations for green finance in Pakistan.Keywords: green finance, FinTech, financial inclusion, energy efficiency, Pakistan
Procedia PDF Downloads 423417 Personality, Coping, Quality of Life, and Distress in Persons with Hearing Loss: A Cross-Sectional Study of Patients Referred to an Audiological Service
Authors: Oyvind Nordvik, Peder O. L. Heggdal, Jonas Brannstrom, Flemming Vassbotn, Anne Kari Aarstad, Hans Jorgen Aarstad
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Background: Hearing Loss (HL) is a condition that may affect people in all stages of life, but the prevalence increases with age, mostly because of age-related HL, generally referred to as presbyacusis. As human speech is related to relatively high frequencies, even a limited hearing loss at high frequencies may cause impaired speech intelligibility. Being diagnosed with, treated for and living with a chronic condition such as HL, must for many be a disabling and stressful condition that put ones coping resources to test. Stress is a natural part of life and most people will experience stressful events or periods. Chronic diseases, such as HL, are risk factor for distress in individuals, causing anxiety and lowered mood. How an individual cope with HL may be closely connected to the level of distress he or she is experiencing and to personality, which can be defined as those characteristics of a person that account for consistent patterns of feelings, thinking, and behavior. Thus, as to distress in life, such as illness or disease, available coping strategies may be more important than the challenge itself. The same line of arguments applies to level of experienced health-related quality of life (HRQoL). Aim: The aim of this study was to investigate the relationship between distress, HRQoL, reported hearing loss, personality and coping in patients with HL. Method: 158 adult (aged 18-78 years) patients with HL, referred for hearing aid (HA) fitting at Haukeland University Hospital in western Norway, participated in the study. Both first-time users, as well as patients referred for HA renewals were included. First-time users had been pre-examined by an ENT-specialist. The questionnaires were answered before the actual HA fitting procedure. The pure-tone average (PTA; frequencies 0.5, 1, 2, and 4 kHz) was determined for each ear. The Eysenck personality inventory, neuroticism and lie scales, the Theoretically Originated Measure of the Cognitive Activation Theory of Stress (TOMCATS) measuring active coping, hopelessness and helplessness, as well as distress (General Health Questionnaire (GHQ) - 12 items) and the EORTC Quality of Life Questionnaire general part were answered. In addition, we used a revised and shortened version of the Abbreviated Profile of Hearing Aid Benefit (APHAB) as a measure of patient-reported hearing loss. Results: Significant correlations were determined between APHAB (weak), HRQoL scores (strong), distress scores (strong) on the one side and personality and choice of coping scores on the other side. As measured by stepwise regression analyses, the distress and HRQoL scores were scored secondary to the obtained personality and coping scores. The APHAB scores were as determined by regression analyses scored secondary to PTA (best ear), level of neuroticism and lie score. Conclusion: We found that reported employed coping style, distress/HRQoL and personality are closely connected to each other in this patient group. Patient-reported HL was associated to hearing level and personality. There is need for further investigations on these questions, and how these associations may influence the clinical context.Keywords: coping, distress, hearing loss, personality
Procedia PDF Downloads 1373416 Procyclicality of Leverage: An Empirical Analysis from Turkish Banks
Authors: Emin Avcı, Çiydem Çatak
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The recent economic crisis have shown that procyclicality, which could threaten the stability and growth of the economy, is a major problem of financial and real sector. The term procyclicality refers here the cyclical behavior of banks that lead them to follow the same patterns as the real economy. In this study, leverage which demonstrate how a bank manage its debt, is chosen as bank specific variable to see the effect of changes in it over the economic cycle. The procyclical behavior of Turkish banking sector (commercial, participation, development-investment banks) is tried to explain with analyzing the relationship between leverage and asset growth. On the basis of theoretical explanations, eight different leverage ratios are utilized in eight different panel data models to demonstrate the procyclicality effect of Turkish banks leverage using monthly data covering the 2005-2014 period. It is tested whether there is an increasing (decreasing) trend in the leverage ratio of Turkish banks when there is an enlargement (contraction) in their balance sheet. The major finding of the study indicates that asset growth has a significant effect on all eight leverage ratios. In other words, the leverage of Turkish banks follow a cyclical pattern, which is in line with those of earlier literature.Keywords: banking, economic cycles, leverage, procyclicality
Procedia PDF Downloads 2623415 Maxwell’s Economic Demon Hypothesis and the Impossibility of Economic Convergence of Developing Economies
Authors: Firano Zakaria, Filali Adib Fatine
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The issue f convergence in theoretical models (classical or Keynesian) has been widely discussed. The results of the work affirm that most countries are seeking to get as close as possible to a steady state in order to catch up with developed countries. In this paper, we have retested this question whether it is absolute or conditional. The results affirm that the degree of convergence of countries like Morocco is very low and income is still far from its equilibrium state. Moreover, the analysis of financial convergence, of the countries in our panel, states that the pace in this sector is more intense: countries are converging more rapidly in financial terms. The question arises as to why, with a fairly convergent financial system, growth does not respond, yet the financial system should facilitate this economic convergence. Our results confirm that the degree of information exchange between the financial system and the economic system did not change significantly between 1985 and 2017. This leads to the hypothesis that the financial system is failing to serve its role as a creator of information in developing countries despite all the reforms undertaken, thus making the existence of an economic demon in the Maxwell prevail.Keywords: economic convergence, financial convergence, financial system, entropy
Procedia PDF Downloads 883414 An Animation-Based Resource for Screening Emotional and Behavioural Distress in Children Aged 6 to 12
Authors: Zoe Lynch, Kirsty Zieschank
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There are several factors that compromise the utility and wide-spread use of existing emotional and behavioural distress screening instruments. Some of these factors include lengthy administration times, high costs, feasibility issues, and a lack of self-report options for children under 12 years of age. This animation-based resource was developed to overcome as many of these factors as possible. Developed for educators and medical and mental health professionals, this resource offers children a self-guided mechanism for reporting any current emotional and behavioural distress. An avatar assistant, selected by the child, accompanies them through each stage of the screening process, offering further instruction if prompted. Children enter their age and gender before viewing comparative animations conveying common childhood emotional and behavioural difficulties. The child then selects the most relatable animations, along with the frequency with which they experience the depicted emotions. From a perspective of intellectual development, an engaging, animated format means that outcomes will not be constrained by children’s reading, writing, cognitive, or verbal expression abilities. Having been user-tested with children aged 6 to 12, this resource shows promising results as a self-guided screening instrument.Keywords: animation-based screening instrument, mental health, primary-aged children, self-guided
Procedia PDF Downloads 1523413 Application All Digits Number Benford Law in Financial Statement
Authors: Teguh Sugiarto
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Background: The research aims to explore if there is fraud in a financial statement, use the Act stated that Benford's distribution all digits must compare the number will follow the trend of lower number. Research methods: This research uses all the analysis number being in Benford's law. After receiving the results of the analysis of all the digits, the author makes a distinction between implementation using the scale above and below 5%, the rate of occurrence of difference. With the number which have differences in the range of 5%, then can do the follow-up and the detection of the onset of fraud against the financial statements. The findings: From the research that has been done can be drawn the conclusion that the average of all numbers appear in the financial statements, and compare the rates of occurrence of numbers according to the characteristics of Benford's law. About the existence of errors and fraud in the financial statements of PT medco Energy Tbk did not occur. Conclusions: The study concludes that Benford's law can serve as indicator tool in detecting the possibility of in financial statements to case studies of PT Medco Energy Tbk for the fiscal year 2000-2010.Keywords: Benford law, first digits, all digits number Benford law, financial statement
Procedia PDF Downloads 237