Measuring systemic importance of financial institutions: An extreme value theory approach

This paper proposes a set of market-based measures on the systemic importance of a financial institution or a group of financial institutions, each designed to capture different aspects of systemic importance of financial institutions. Multivariate extreme value theory approach is used to estimate these measures. Using six big Canadian banks as the proxy for Canadian banking sector, we apply these measures to identify systemically important banks in Canadian banking sector and major risk contributors from international financial institutions to Canadian banking sector. The empirical evidence reveals that (i) the top three banks, RBC Financial Group, TD Bank Financial Group, and Scotiabank, are more systemically important than other banks, while we also find that the size of a financial institution should not be considered as a proxy of systemic importance; (ii) compared to the European and Asian banks, the crashes of the U.S. banks, on average, are the most damaging to Canadian banking sector, while the risk contribution to the Canadian banking sector from Asian banks is quite lower than that from banks in the U.S. and euro area; (iii) the risk contribution to Canadian banking sector exhibits “home bias”, that is, cross-country risk contribution tends to be smaller than domestic risk contribution.     

Risk-based classification of supplier relationships

The management and exploitation of external resources has increased and become a new source of business success. This has given rise to various new risks and therefore increased the need for collaborative risk management and learning. The objective of this paper is to explore the differences in risk management and learning across supplier relationships classified through network risks. The paper provides a theoretical review of supplier relationships and risk management, as well as a survey-based empirical study conducted in one case company's supply network. A set of network risks and risk-management measures is developed by means of factor analysis, and a supplier classification by means of cluster analysis. According to the results, the exploitation of collaborative risk management and learning is highest among the most strategic supplier relationships. A classification typology based on suppliers’ opinions helps both parties in the relationship and enables the efficient exploitation of mutual risk management with collaborative learning as one of its keystones.     

Characteristics of piloting longitudinal birth cohort surveys: a systematic review

Quality & Quantity - This paper aims to provide a comprehensive overview of piloting approaches, systemize piloting processes, and underline good practices in large scale longitudinal birth...     

Proxy-quality thresholds: Theory and applications

We consider alternative models of a regression containing a proxy for an unobserved regressor. For each model at most two pieces of prior information are necessary to determine the sign of any regressor coefficient: the sign of the partial correlation between the proxy and the unobserved regressor, and a lower bound on the partial or simple correlation between the proxy and the unobserved regressor. We apply our technique to investment and leverage regressions that contain a proxy for the incentive to invest. In both cases proxy quality must be high for the coefficient of interest to be non-zero.     

The real effects of delisting: Evidence from a regression discontinuity design

We study how the delisting of a firm’s stock, and the accompanying drop in liquidity, causally affects a firm’s real economic decisions. Although delisting is endogenous, we identify a causal effect by using regression discontinuity design (RDD). This technique suits the delisting problem because the probability of delisting rises discontinuously when observable variables pass known thresholds. We find that delisting results in a modest decline in investment and cash saving and an important and robust decline in employment.     

Integrating future-oriented technology analysis and risk assessment methodologies

This paper examines the potential of integrating future-oriented technology analysis (FTA) with risk assessment methodologies and tools, with the aim of developing more proactive risk assessments and also systematically including risk assessment in future-oriented technology analysis. The similarities and development challenges of foresight, Technology Analysis (TA) and risk assessment methodologies are discussed in the light of the empirical material gathered from projects performed at VTT. Among the projects are IRRIIS project focusing on risk assessment of critical infrastructures, INNORISK project aiming at managing opportunities, risk and uncertainties in new business creation and a project related to the climate change (CES). The case projects are positioned according to their important design dimensions (informative vs. instrumental outcomes; consensual vs. diverse future perspectives, extensive vs. exclusive stakeholder involvement, and autonomous vs. fixed management). The common and complementary features of FTA and risk assessment are discussed, suggesting new ways to evolve the modular design when integrating FTA and risk assessment methodologies and tools.     

‘It Doesn't Matter How Big or Small You Are…There's a Position For You’: Body Image Among Female Tackle Football Players

The purpose of this study was explore the body image experiences of women who play tackle football. Data included semi-structured interviews with 15 players on a women's tackle football team in Western Canada. Data were analyzed thematically and objectification theory was used to interpret the findings. Themes that emerged included: a) improved body image through physical change, appreciation of function over appearance and shifting ideals of beauty; b) importance of a social atmosphere that celebrated diverse bodies; and c) negotiation of body image on and off the field. Research has documented a connection between body image and physically active leisure, but much about the nature of the relationship is still unclear. The findings of this study provide insight into elements of physically active leisure (e.g., social atmosphere or nature of the activity) which can be used to promote positive body image, health, and wellness in leisure settings.     

Small local firms inside the supply chain: Challenges and perspectives

The authors provide the results of an empirical research carried out in north-east Italy and completed in 1992, which was aimed at investigating the rapport between large manufacturers operating on the multidomestic and global markets and the small local supplying concerns. This research identifies that the globalization process has had a strong impact in the relations with suppliers. The purchasing firms have adopted a particular approach when selecting the suppliers. This has involved widening their previous geographic areas of contact, even making use of foreign sources. Consequently, the local micro units either will become excluded from future business relations with the purchasing organizations, or will be relegated into lower levels of the supply chain. Today small and very small units working as suppliers with direct link with large-scale clients, face many challenges: they should now renew their know-how and skills, develop a new managerial and organizational sense, and recognise the need to invest in new forms other than machinery and processes. The empirical study clearly showed both the limits and the structural weakness of such small units and provided some indications for growth in their technical-productive potential.     

Older Men's Perceptions of Leisure and Aging

As the North American population ages, detailed research will be needed to understand the leisure experiences of older adults. The purpose of this study is to explore perceptions of leisure and aging among a sample of older Canadian men. Data were collected among 15 men aged 60–70 using individual interviews and follow-up focus groups. Data were analyzed thematically and four themes emerged: the interplay between leisure and work, the desire to “give back” to family or to the community through leisure, the individual purpose of leisure choices, and viewing constraints as a reflection of priorities rather than as barriers.     

Antecedents of Purchase Intention in the Online Context

The understanding of the determinant factors of customer purchase intention is necessary, and it is equally important to study the online purchase context, since this context is disseminated among customers. A theoretical model has been elaborated on and tested, considering the constructs of information quality, distrust, and perceived risk as antecedents of purchase intention, and aiming to analyze the relationship among these constructs in the online purchase context. A quantitative research study has been performed by means of the application of a survey. Multivariate statistics techniques have been applied for data analyses, including structural equation modeling. This study contributes to the evolution of the empirically tested concepts by providing a greater individual understanding of each construct presented in the theoretical model, as well as the relationship among them as determinants of purchase intention; the indication is that meaningful relationships were found which may impact greater profitability and, consequently, greater competition for online retailers.