Analytical Solutions for Expected Loss and Standard Deviation of Loss with an Additional Loan

We evaluate the expected loss and the standard deviation of loss of a bank loan, considering the bank’s strategic control of the expected return on the loan. Assuming that the bank supplies an additional loan to minimize the expected loss of the total loan, we provide analytical formulations for the expected loss and the variance of loss with bivariate normal distribution functions. Using a given expected growth rate and interest rates, two thresholds for the asset/liability ratio can specify three cases. The bank supplies an additional loan to decrease the expected loss in two cases: (i) the asset/liability ratio of the firm is low, and its expected growth rate is high; and (ii) the asset/liability ratio of the firm is high, and the lending interest rate is high. The bank maintains the current loan amount when the asset/liability ratio lies between the two thresholds. Depending on the bank’s strategy, the bank can decrease the initial expected loss of the loan. Conversely, the bank would face a greater risk of the standard deviation of loss.     

Relative Deprivation and School Enrolment. Evidence from Mexico

Using a large dataset (2.9 million households), we provide solid evidence of relative deprivation as being a negative correlate of school enrolment in Mexico, absolute standard of living being controlled for. This result is robust to a number of specifications, and to the use of linear and less than linear indices of relative deprivation. In addition, we find that marginal effects of relative deprivation are stronger at higher standards of living and for older children.     

The moderating effects of gender on customer satisfaction and continuance intention in mobile commerce: a UTAUT-based perspective

ABSTRACT

The purpose of the study is to investigate the moderating effects of gender on proposed model relationships. In order to test the moderating effects of gender on the relationships of the model developed, multi-group SEM was applied. Performance expectancy was found to be the strongest predictor of satisfaction and comparative value was identified as the main driver of continuance intention. In addition, significant difference in attitudes between women and men were confirmed in the case of three out of ten effects. The originality of the study is its measurement of the moderating effects of gender on user satisfaction in relation to m-commerce and continuance intentions.     

Random PERT: application to physical activity/sports programs

This paper illustrates the variety of PERT technique known as random PERT. The aim of this technique is to help plan the duration of activities, something which can be particularly difficult in psychosocial programs. Thus, this task is often carried out by experts, who know that there are many events which may modify the proposed calendar. The paper includes an empirical illustration of random PERT applied to a physical activity/sports program for elderly people.     

Sustainable Consumption Governance: A History of Promises and Failures

What are the implications of the current international political, and economic settings for consumer policy, and, in particular, those regarding sustainable consumption? In terms of improvements in the efficiency of consumption, the settings have induced efforts to this effect and show potential for further progress. In terms of necessary changes in consumption levels and patterns, however, little progress has been made since the Rio Summit nor is there likely to be any in the near future. These two dimensions of sustainable consumption need to be differentiated, as there is a substantial amount of controversy regarding our ability to achieve sustainable consumption on the basis of improvements in efficiency alone. The paper traces these differences with respect to the work of the major international governmental organizations (IGOs) engaged in developing sustainable consumption governance. It argues that the lack of commitment to strong sustainable consumption among IGOs can be explained by their “weakness” as actors in global governance and the existence of strong opposing interests among consumers and business actors.     

The Risk Reduction Role of Advertising

This study shows theoretically and empirically that exposure to advertising increases consumers tendency to purchase the promoted product because the informative content of advertising resolves some of the uncertainty that the risk averse consumers face and thus reduces the risk associated with the product. We call this effect the risk-reduction role of advertising. The risk-reduction model implies that advertising effectiveness depends on (a) the risk preference parameter, (b) the precision of the advertising message, (c) the familiarity of the consumer with the product, (d) the consumers sensitivity to products attributes (and thus, her involvement level with the product), and (e) the diversity of products offered by multiproduct firms. These findings suggest that ads spending should be higher (a) for new and relatively unknown products, (b) for high-involvement products, (c) when ads can be quite precise, and (d) when the firm offers a diverse product-line. It also implies that ads should target consumers (a) who are more sensitive to risk, (b) who are more involved, and (c) those who are not familiar with the promoted product.The model allows ads to affect choices also through a direct effect on the utility (i.e., the standard approach to formulate the effect of advertising). In our empirical example (where the products are television shows) the risk-reduction effect is significant and strong and the direct effect is negligible behaviorally. We discuss the welfare implications of these findings, and illustrate the quantitative differences in managerial implications between our model and the traditional one.     

一种快速跳频锁相频率合成器

本文提出一种小数分频自适应锁相频率合成方案,以提高鉴相频率和自适应改善环路自然角频率ω_n两方面去提高频率转换速度.并针对小数分频中模拟相位内插补偿时D/A变换的问题,采用数码-脉宽-电荷变换法进行电荷补偿.最后分析了环路的性能,证明该系统是能胜任跳频频率合成任务的.     

Contagion of Capital Markets in CEE Countries: Evidence from Wavelet Analysis

We employed wavelets technology to investigate how and when contagion occurred on 10 Central and Eastern European financial markets in relation to Western European and US financial markets during 2000–2016 and their different reactions on the background of changes in their regulatory framework. We found that most of Central and Eastern European (CEE) capital markets showed contagion in relation to both Western European and US markets between 2005 and 2009, while Slovakian and Estonian markets showed no contagion. However, during 2010–2016, Croatian market showed de-contagion in relation to Western European market, while Bulgarian, Czech, Hungarian, and Polish markets showed de-contagion in relation to US market, increasing their independence.     

Understanding the adoption of project management in Serbian organizations: Insights from an exploratory study

The article contributes to our understanding of the drivers behind, and the nature of, project management implementation in the complex context of a transitional economy. Relevant insights are generated through an integrated and dynamic analysis of interviews and secondary data from a sample of local organizations, based on a conceptual model of strategic transformation. The analysis concludes with propositions about how both adoption of and resistance to project management implementation in the region could be understood from a strategic point of view, taking into account complex and dissonant circumstances of transition, history, cultural tradition, embedded social values, and identities of individual organizational members.     

Revisiting the difference between mixed methods and multimethods: Is it all in the name?

The literature on mixed methods and multimethods has burgeoned over the last 20 years, and researchers from a growing number and diversity of fields have progressively embraced these approaches. However, rapid growth in any movement inevitably gives rise to gaps or shortcomings, such as “identity crises” or divergent conceptual views. Although some authors draw a clear and sometimes opinionated distinction between mixed methods and multimethods, for others, they are synonymous. The concepts underlying both terms therefore have become blurred and generated much confusion. The aim of this article is to explore the origins of the confusion, describe our view of mixed methods and multimethod studies, and by doing so, help to clearly delineate the two concepts. The authors have presented their opinion of how these terms and concepts should be distinguished and call for a constructive debate of the issues involved in the mixed methods and multimethod literature. This is a way truly to propel the field forward.