Concentration in Asia's cross-border banking: Determinants and impacts

Cross-border bank positions in Asia and the Pacific remain highly concentrated among a few counterparties, exposing the region to financial risks and policy spillovers. Consequently, assessing the determinants and impacts of the region's cross-border banking concentration is relevant to the design of appropriate policies for promoting financial development and safeguarding financial stability. To this end, we construct cross-border bank concentration measures for 47 economies in Asia and the Pacific from 2000 to 2019. The results show that higher capital account and trade openness and per capita income are significantly associated with lower cross-border bank concentration. Moreover, elevated cross-border bank concentration tends to lower domestic credit and nonperforming loans. We find no impact on bank profitability for the region.     

Ted's Teas: A Two-Part Accounting and Audit “Crossover Case”*

This fictional case is based on a real specialty tea company in Nova Scotia. Ted's Teas is a two-part crossover case that illustrates the integration of financial accounting and audit learning outcomes applied to real-world scenarios. In Part 1, students assume the role of an internal accountant and apply knowledge of the Chartered Professional Accountants (CPA) of Canada's CPA Way to identify how to treat leases, changes in policy, and estimates as part of accounting knowledge under both Accounting Standards for Private Enterprises and IFRS frameworks. In Part 2, students “cross over” and change roles, so they are now external auditors for Ted's Teas, tasked to provide an analysis of risk of material misstatement, recommend an audit approach, and develop substantive procedures. This two-part case presents opportunities for students to demonstrate technical competence in multiple areas, either separately in two different courses or combined in one “capstone” or case course. The case and teaching notes, including the marking rubrics, were adapted from principles used to train and evaluate CPA Professional Education Program candidates, tailored to an appropriate level for undergraduate and graduate learners.     

Factors of production,productivity, institutions,and development: Evidence from Brazil

The economic growth and development literature emphasizes that investment in technology and physical and human capital is essential for achieving higher levels of development. Political and economic institutions are also relevant in this process. With a sample of 5,503 Brazilian municipalities, this study carries out a development accounting exercise and measures the effects of institutional quality on per capita gross domestic product (GDP), physical capital intensity, human capital stock, and productivity. The empirical results indicate that institutional quality affects GDP per capita mainly through human capital accumulation and total factor productivity.     

Green Alliances: Are They Beneficial when Regulated Firms are Asymmetric?

Journal of Industry, Competition and Trade - In this paper, we analyze the collaboration between an environmental group (EG) and polluting firms when they are asymmetric in their abatement costs....     

Who Pays More for a Cultural Festival,Tourists or Locals? A Certainty Analysis of a Contingent Valuation Application

Cultural festivals are one of the most common representations of diversification strategies in tourist demand in cities boasting abundant historical heritage. The goal of this work is to estimate the economic value allocated by tourists and local residents to a classical music festival in the emblematic city of Santiago de Compostela (Spain). The contingent valuation method is used to ascertain whether there are any significant differences between the value declared and to study the sensitivity of the findings in a range of socio‐economic variables. Finally, the problems of hypothetical bias are explored, as are the possible implications for management of pricing policies. Copyright © 2011 John Wiley & Sons, Ltd.     

Coalition-proof stable networks

Review of Economic Design - We propose the notion of coalition-proof stability for predicting the networks that could emerge when group deviations are allowed. A network is coalition-proof stable...     

Option prices for risk-neutral density estimation using nonparametric methods through big data and large-scale problems

Option pricing theory determines the structure of call and put option pricing functions. In nonparametric risk-neutral density estimation based on kernel functions, local constraints cannot induce a second derivative function that must integrate one. Convexity and monotonicity of pricing functions also cannot be enforced. A large-scale (optimization) approach is proposed for the risk-neutral density estimation, imposing an enlarged set of no-arbitrage constraints. We considered simulations using Heston's model and hypergeometric functions. The method is applied to samples of intraday data from VIX and S&P500 indexes.     

Survival Modelling for Data From Combined Cohorts: Opening the Door to Meta Survival Analyses and Survival Analysis Using Electronic Health Records

Non-parametric estimation of the survival function using observed failure time data depends on the underlying data generating mechanism, including the ways in which the data may be censored and/or truncated. For data arising from a single source or collected from a single cohort, a wide range of estimators have been proposed and compared in the literature. Often, however, it may be possible, and indeed advantageous, to combine and then analyse survival data that have been collected under different study designs. We review non-parametric survival analysis for data obtained by combining the most common types of cohort. We have two main goals: (i) to clarify the differences in the model assumptions and (ii) to provide a single lens through which some of the proposed estimators may be viewed. Our discussion is relevant to the meta-analysis of survival data obtained from different types of study, and to the modern era of electronic health records.     

Are cooperatives gender sensitive? A confirmatory and predictive analysis of women's collective entrepreneurship

The literature on entrepreneurship has developed a huge body of fruitful research to explain why women do not engage in business as often as men. However, relatively little is known about the role that different business models may play in driving women's entrepreneurial activity, which is examined in this study. In this paper we develop a model to empirically test the relationship between women's motivations to become entrepreneurs and their willingness to embark on business through cooperatives, a particular organizational model. We find that the fit between women's needs and expectations and the guiding principles of cooperatives is decisive for the materialization of female entrepreneurship. Furthermore, we explore the role that institutions can play in fostering this link. In doing so, we extend the literature on women's entrepreneurship by highlighting key factors to better channel the development of this potential resource for economic development. Our confirmatory model highlights the role of cooperatives as a type of organization particularly suited to the interests and needs of women entrepreneurs. Thus, the promotion of this business model can be useful to improve the number of women entrepreneurs and, in turn, enhance economic development.     

The relationship between business characteristics and ICT deployment in the rural tourism sector. The case of Spain

The deployment of information and communication technologies (ICT) is crucial for the competitiveness of rural tourism businesses. It is therefore important to know the relation between a firm's characteristics and ICT deployment. This study makes two hierarchical segmentations to predict the behaviour of these firms when deploying the Web and e‐mail. This work determines which characteristics are related to ICT deployment. Activity and category are the two characteristics that most effectively predict a firm's behaviour, whereas location and size are less effective. These results have implications for entrepreneurial behaviour and for public agents working in rural tourism. Copyright © 2009 John Wiley & Sons, Ltd.