Dissertations / Theses on the topic 'Financial sector credit'
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Okurut, Francis Nathan. "Credit demand and credit rationing in the informal financial sector in Uganda." Thesis, Stellenbosch : Stellenbosch University, 2005. http://hdl.handle.net/10019.1/50308.
Full textENGLISH ABSTRACT: This study was motivated by the need to determine the key factors that influence credit demand and credit rationing in the informal financial markets so as to contribute to policy formulation to improve access for the poor in Uganda to the broader (formal and informal) financial sector. The results of the study suggest that credit demand in the informal financial sector is positively and significantly influenced by capacity related variables (education level, and household expenditure) at the household level, and the informal lenders' credit rationing behaviour is also negatively and significantly influenced by household wealth factors (asset values). The same variables have similar effects in the models for credit demand and credit rationing in the broader financial sector. Since households demand credit for both investment and consumption smoothing, improved access to the broader financial sector will enable them to acquire more wealth, and move out of poverty in the long run. The policy options to improve small borrower access to the broader financial sector include provision of incentives to banks to serve the smaller borrowers, development of credit reference bureaus, provision of innovative insurance products to the poor, and broader economic policies that enable households to acquire more wealth. In addition appropriate linkages need to be developed between the formal and informal financial sectors so as to broaden the financial system.
AFRIKAANSE OPSOMMING: Hierdie studie is gemotiveer deur die behoefte om die sleutelfaktore te identifiseer wat die vraag na krediet en kredietrantsoenering in die informele finansiele markte bemvloed ten einde In bydrae te kan maak tot beleid om beter toegang vir die armes tot die bree (formele en informele) finansiele sektor in Uganda te bewerkstellig. Die resultate van die studie dui aan dat die vraag na informele krediet In betekenisvolle en positiewe verwantskap toon met kapasiteitsverwante veranderlikes (vlak van opvoeding en huishoudelike besteding) op die huishoudingvlak. Informele uitleners se kredietrantsoeneringsoptrede toon In betekenisvolle en negatiewe verwantskap met huishoudings se vlak van rykdom (batewaardes). Dieselfde veranderlikes toon soortgelyke verwantskappe in die geval van die modelle vir kredietvraag en kredietrantsoenering in die bree finansiele sektor. Huishoudings se vraag na krediet is vir beide investeringsdoeleindes en om In meer egalige verspreiding van verbruik te verkry. Daarom sal verbeterde toegang tot die bree finansiele sektor hulle in staat stel om meer rykdom te bekom en so uit armoede in die langer termyn te ontsnap. Die beleidsopsies om kleiner leners beter toegang tot die bree finansiele sektor te bied, sluit in voorsiening vir insentiewe aan banke om klein leners te bedien, die ontwikkeling van kredietverwysingsburo's, die voorsiening van innoverende versekeringsprodukte aan die armes, en breer ekonomiese beleid wat huishoudings in staat sal stel om meer rydom te bekom. Toepaslike skakeling tussen die formele en informele finansiele sektore moet ook ontwikkel word ten einde In verbreding van die finansiele sektor te bewerkstellig.
Lundström, Love, and Oscar Öhman. "Machine Learning in credit risk : Evaluation of supervised machine learning models predicting credit risk in the financial sector." Thesis, Umeå universitet, Institutionen för matematik och matematisk statistik, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-164101.
Full textNär banker lånar ut pengar till en annan part uppstår en risk i att låntagaren inte uppfyller sitt antagande mot banken. Denna risk kallas för kredit risk och är den största risken en bank står inför. Enligt Basel föreskrifterna måste en bank avsätta en viss summa kapital för varje lån de ger ut för att på så sätt skydda sig emot framtida finansiella kriser. Denna summa beräknas fram utifrån varje enskilt lån med tillhörande risk-vikt, RWA. De huvudsakliga parametrarna i RWA är sannolikheten att en kund ej kan betala tillbaka lånet samt summan som banken då förlorar. Idag kan banker använda sig av interna modeller för att estimera dessa parametrar. Då bundet kapital medför stora kostnader för banker, försöker de sträva efter att hitta bättre verktyg för att uppskatta sannolikheten att en kund fallerar för att på så sätt minska deras kapitalkrav. Därför har nu banker börjat titta på möjligheten att använda sig av maskininlärningsalgoritmer för att estimera dessa parametrar. Maskininlärningsalgoritmer såsom Logistisk regression, Neurala nätverk, Beslutsträd och Random forest, kan användas för att bestämma kreditrisk. Genom att träna algoritmer på historisk data med kända resultat kan parametern, chansen att en kund ej betalar tillbaka lånet (PD), bestämmas med en högre säkerhet än traditionella metoder. På den givna datan som denna uppsats bygger på visar det sig att Logistisk regression är den algoritm med högst träffsäkerhet att klassificera en kund till rätt kategori. Däremot klassifiserar denna algoritm många kunder som falsk positiv vilket betyder att den predikterar att många kunder kommer betala tillbaka sina lån men i själva verket inte betalar tillbaka lånet. Att göra detta medför en stor kostnad för bankerna. Genom att istället utvärdera modellerna med hjälp av att införa en kostnadsfunktion för att minska detta fel finner vi att Neurala nätverk har den lägsta falsk positiv ration och kommer därmed vara den model som är bäst lämpad att utföra just denna specifika klassifierings uppgift.
Hörstedt, Maria, and Johanna Linjamaa. "Credit Risk Evaluation of Swedish SMEs : A Banking Sector Perspective." Thesis, Umeå universitet, Företagsekonomi, 2015. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-107969.
Full textMarques, Ana Catarina Henriques Simões. "Financial crisis spillovers to the corporate sector: Bank-dependent borrowers versus bond market paticipants." Master's thesis, NSBE - UNL, 2013. http://hdl.handle.net/10362/9845.
Full textThis paper provides empirical evidence on the impact that shocks to capital providers have on their borrowers’ performance. We use the recent financial crisis, which was originated in the U.S. mortgage market, as reasonably exogenous shock to the performance of European Union-based companies, therefore allowing us to disentangle credit supply and demand-side frictions. Our results show that bank-dependent firms were more adversely affected by the financial crisis in terms of stock market valuation, investment decisions and profitability, in comparison to firms with access to public debt markets. Overall, we highlight the role that financial intermediaries play in the propagation of financial shocks to the real economy, even across distinct regions.
Janíčko, Martin. "Essays on Financial Innovation, Credit Constraints, and Welfare." Doctoral thesis, Vysoká škola ekonomická v Praze, 2010. http://www.nusl.cz/ntk/nusl-165930.
Full textKwablah, Andrews. "Financial Crowding Out of Ghanaian Private Sector Corporations." ScholarWorks, 2018. https://scholarworks.waldenu.edu/dissertations/4932.
Full textBreitschopf, Barbara. "Rural financial markets under transformation a study on credit supply and demand in Romania's private farm sector /." [S.l. : s.n.], 2003. http://www.bsz-bw.de/cgi-bin/xvms.cgi?SWB10633969.
Full textGarach, Jatin Bijay. "The Firm-Specific Determinants of Capital Structure in Public Sector and Private Sector Banks in India." Master's thesis, Faculty of Commerce, 2019. https://hdl.handle.net/11427/31673.
Full textPinheiro, Daniel Nobre Martins. "Credit to the private sector and financial crisis: survey of the literature and evidences from the 2015-16 Brazilian crisis." reponame:Repositório Institucional do FGV, 2018. http://hdl.handle.net/10438/24917.
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O presente trabalho analisa a influência do crédito ao setor privado no ciclo de crédito experimentado pela economia brasileira entre 2003 e 2017. A motivação advém das mais recentes contribuições teóricas e empíricas publicadas após a crise financeira global sobre o papel dos aceleradores financeiros e mecanismos de transmissão em gerar fragilidades financeiras de caráter sistêmico. Conclusões em Adrian e Shin (2010) serão o ponto de partida, onde fatores que impactam o capital de intermediários financeiros operam como importantes canais de propagação de choques. A forte expansão do setor financeiro naquele período, junto a um crescimento sem precedentes do endividamento do setor privado, provém um cenário propício para testar este insight. Um modelo de Vetor de Correção de Erros (VECM) será estimado para identificar tendências comuns entre variáveis reais e financeiras, assim como identificar impactos decorrentes de choques e causalidade entre variáveis associadas a crédito, alavancagem, atividade, colaterais e oferta de fundos. Desta forma, a pesquisa espera contribuir à compressão daquele episódio, assim preenchendo um vácuo no debate polarizado entre aqueles que vêm o país como vítima de condições internacionais adversas, e outros que responsabilizam uma longa história de políticas econômicas equivocadas pela crise.
This monograph evaluates the role played by the credit to the private sector on the boom-bust cycle experienced by the Brazilian economy between 2003-2017. The study is motivated by recent theoretical and empirical contributions arriving after the Global Financial Crisis on the role played by financial accelerators and transmission channels in driving systemic financial fragility. It departs from a key insight from Adrian and Shin (2010) where factors affecting the equity base of financial intermediaries operate as a powerful transmission channel for shocks. The strong expansion of the financial activities during the period, coupled with the unprecedent growth of debt and leverage of the non-financial private sector, provide a promising scenario to test that insight. A Vector Error Correction Model (VECM) will be applied to identify common trends on financial and real variables to help to identify effects from shocks and causalities comprising variables related to debt, leverage, activity, collaterals, and funds supply. Thus, it aims at shedding new lights on the comprehension of that episode, so filling a gap on this debate polarized between those who see Brazil as a victim of a stressed global economy, and others who blame a long account of derailing economic policies in driving this fate.
Carrión, Domínguez Gisela Cecilia, and León Juan Manuel Díaz. "Rol del COSO ERM en la gestión de crédito en el sector de la banca múltiple en el Perú durante el 2018." Bachelor's thesis, Universidad Peruana de Ciencias Aplicadas (UPC), 2020. http://hdl.handle.net/10757/653191.
Full textThe present investigation will consider the new exchange rates presented in COSO ERM and evaluate the role of COSO ERM in credit management in the Multiple Banking sector in Peru during 2018. The results of this study will allow you to have a better risk management that will favor business by reinforcing the control themes of the company, identifying and managing the risk in full. This will increase the positive results and the benefits of the organization, as well as reduce the negative sequences of risks, so it will be possible to identify them in a timely manner. In the following paragraphs, the objectives and hypotheses that come from this investigation will be presented. This investigation consists of 5 chapters. In the first chapter, we describe some concepts made within the theoretical framework, from which the COSO ERM unfolds, the different types of risks, credit management, profitability, late payment in the sector and regulations. In the second chapter the research plan was developed. If the problem is determined, the main objective and specifics will be detailed. Thus, as the hypothesis will be presented, which will be validated through the investigative tools. In the third chapter, the research methodology will be presented, which will have a mixed approach and how tools will be applied to in-depth interviews with specialists in the banking sector and many interviews with analysts who are performing in the sector. In the fourth chapter, the result of the interviews and applied surveys will be detailed, as they relate to the objectives and hypotheses planted in the research plan. In the fifth chapter, the analysis of the information collected in chapter 4 is detailed. Also, if the hypotheses planted through the square chi and the planting of a case are validated, finally, the conclusions and recommendations that come off will be presented. to validate the planted hypotheses.
Tesis
AraÃjo, Maria AntÃnia do Socorro Rabelo. "Analysis of the management of people in the process of outsourcing of core activities in the financial sector in CearÃ." Universidade Federal do CearÃ, 2005. http://www.teses.ufc.br/tde_busca/arquivo.php?codArquivo=3636.
Full textO presente trabalho objetiva verificar como as equipes de vendas terceirizadas (contratadas) sÃo geridas por bancos comerciais que operam no competitivo mercado de crÃdito consignado no Estado do Cearà para garantir um fluxo contÃnuo, qualificado e crescente de negÃcios. Primeiramente, foram feitas abordagens teÃricas tais como: terceirizaÃÃo; quarteirizaÃÃo; administraÃÃo estratÃgica; gestÃo do capital humano; mercado financeiro e o negÃcio crÃdito em consignaÃÃo. ApÃs a revisÃo bibliogrÃfica, realizou-se uma pesquisa exploratÃria, descritiva e de campo junto a bancos comerciais instalados no Cearà e operando com o produto emprÃstimo consignado, para a aplicaÃÃo de quatro questionÃrios semi-estruturados junto aos gestores dos bancos, correspondentes bancÃrios, colaboradores internos e angariadores. Em seguida, as informaÃÃes coletadas foram tabuladas e tratadas quantitativa e qualitativamente, constatando que a terceirizaÃÃo das atividades fins de vendas pelos bancos sÃo motivadas pela margem, funding, descentralizaÃÃo de pontos de vendas e pela simplicidade operacional, como tambÃm. Identificou-se como desvantagem desse processo de terceirizaÃÃo a baixa capacitaÃÃo gerencial e tÃcnica do correspondente (contratado). Esse cenÃrio de simplicidade operacional e baixa capacitaÃÃo gerencial e tÃcnica da gestÃo contribuem fortemente para a fragilidade das tÃcnicas da gestÃo de pessoal empregadas nas equipes de vendas terceirizadas e âquarteirizadasâ, pelas empresas contratadas. Acredita-se que a ausÃncia das prÃticas da gestÃo de recursos humanos no trabalho terceirizado compromete resultados estratÃgicos de atuaÃÃo das duas empresas envolvidas nesse processo.
Staněk, Ondřej. "Zhodnocení bonity klienta banky." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2014. http://www.nusl.cz/ntk/nusl-224516.
Full textOrellano, Risco Karla Beliza. "Comportamiento estratégico del sector bancario en el mercado de créditos." Bachelor's thesis, Universidad Peruana de Ciencias Aplicadas (UPC), 2021. http://hdl.handle.net/10757/656653.
Full textThe performance of the banking sector in recent years has been determined by non-structural indicators of competition. However, this behavior has not been evaluated by differentiating the different segments of the credit market, despite evidence of disparities in concentration, costs, and marginal revenues from each market. Therefore, this paper estimates the market power for each segment and analyzes the interactions between markets through a model of conjectural variations to see if the initial movements of one market affect the equilibrium of another market. As a result, it is determined that firms increase their margins when they reduce their participation in the wholesale segments to increase their share in the retail segments. Given that the macroeconomic situation in recent years has encouraged greater growth in the domestic demand for this type of credit, we have found that firms increase their margins when they reduce their share in the wholesale segments to increase their share in the retail segments.
Trabajo de investigación
Bagdonas, Valdemaras. "Valstybės kredito reitingų įtaka finansų sektoriaus vystymuisi ir užsienio investicijų srautams Baltijos šalyse." Master's thesis, Lithuanian Academic Libraries Network (LABT), 2012. http://vddb.laba.lt/obj/LT-eLABa-0001:E.02~2012~D_20120703_160300-10939.
Full textThe topic of the work is relevant due to the fact, that international credit rating agencies, assessing the debt crisis in Europe, recently downgraded credit ratings or their outlook for many countries. Despite the fact that sovereign credit ratings of Baltic states have stabilized after the decline occured three years ago, higher ratings are the essential factor for Baltic states, seeking to attract foreign investment and promote their financial sector development. Though, the improvements of ratings may have the opposite effect. Therefore, it is important to clarify the situation in Baltic states. The object of the research work – the Baltic states‘ short and long term in foreign and local currency ratings. The purpose of this paper is to establish the impact of sovereign credit ratings on the financial sector development and international capital flows in the Baltic states, doing theoretical analysis on sovereign credit ratings and their impact on the financial sector development and international capital flows in a country. In order to achieve an objective, the following tasks have been fomulated: to accomplish above-mentioned theoretical analysis, to analyse the level of financial sector development, changes in trends of international capital flows and sovereign credit ratings in the Baltic states, reveal the main factors, which affected ratings in these countries and ascertain the influence of these ratings on the financial sector development and international capital... [to full text]
Oliveira, Mónica Filipa Pérola de Azevedo Tarrinho de. "Financiamento de pequenas e médias empresas vs grandes empresas : evolução da dívida a instituições financeiras." Master's thesis, Instituto Superior de Economia e Gestão, 2012. http://hdl.handle.net/10400.5/10430.
Full textVários são os autores que defendem que as Pequenas e Médias Empresas (PMEs) recorrem à dívida a instituições financeiras de forma diferente das Grandes Empresas (GEs). O presente trabalho pretende averiguar a evolução da dívida a estas instituições por parte das PMEs e das GEs, tentando justificar as diferenças existentes. Para o efeito, foram utilizadas variáveis que definem os níveis de dívida às instituições financeiras e o nível de activos e de investimento destas empresas, reportando ao período entre 1996 e 2005, sendo posteriormente realizada a devida análise estatística. Os resultados obtidos comprovam as diferenças existentes entre as PMEs e as GEs no recurso à dívida a instituições financeiras, sendo que, as PMEs se endividam para financiarem os seus activos e os seus investimentos, ao passo que nas GEs não se verifica a mesma situação.
Several are the authors that defend that Small and Medium Enterprises (SMEs) appeal to the debt to financial institutions in a different way from Big Enterprises (BEs). The present work pretends to investigate the debt evolution to these institutions by the SMEs and by BEs trying to justify the existent differences. For that, there were used variables that define the debt levels to the financial institutions, the assets level and investment level of these enterprises reporting to the period between 1996 and 2005, being afterwards realized the due statistic analyses. The obtained results prove the differences between SMEs and BEs in what concerns the appeal to the debt to financial institutions, being that the SMEs get indebt to finance their assets and investments, in opposite that situation doesn't happen with BEs.
Richaud, Christine. "Libéralisation financière et comportement des banques en matière d’offre de crédit au secteur privé : cas du Ghana et de la Côte d’Ivoire." Clermont-Ferrand 1, 1998. http://www.theses.fr/1998CLF10189.
Full textFinancial liberalization is designed to enhance economic growth by stimulating private savings, increasing productivity and investment. In developing countries where banks are usually predominant in financial systems, one of the main purposes of financial reforms is to increase savings mobilization and improve efficiency in credit allocation. Bank behavior regarding credit supply to the private sector represents therefore a crucial issue. The purpose of the dissertation is thus to analyze bank behavior after financial liberalization. This work is applied to two West-African countries, Ghana and Côte d’Ivoire. We argue that financial liberalization may improve the soundness of bank portfolios, but may be not sufficient to improve savings mobilization and credit allocation
Alexandridisová, Julie. "Analýza vývoje kyperských bank v letech 2010-2016." Master's thesis, Vysoká škola ekonomická v Praze, 2016. http://www.nusl.cz/ntk/nusl-264150.
Full textSogut, Erzen. "The Determinants Of Financial Development And Private Sector Credits: Evidence From Panel Data." Master's thesis, METU, 2008. http://etd.lib.metu.edu.tr/upload/12610098/index.pdf.
Full textSalen, Pierrick. "L'emprunt des collectivités territoriales : un paradoxe du droit public financier." Thesis, Paris 1, 2014. http://www.theses.fr/2014PA010252.
Full textRegarding the recourse of local authorities and their consortiums to credit, the applicable legalframework went through a number of significant modifications. These modifications took place duringthe numerous reforms of the local public sector. In spite of these evolutions, the indebtness capacity of local authorities continues to be at the heart of an autonomy and constraint paradox. Theliberalisation of credit that took place during the second half of the XXth century accentuated theautonomy factor for local deciders. Local authorities must use this autonomy to find solutions to thechallenges induced by the trivialization of this tool - a tool that for a large part incorporates privatelaw - and the practices of which never cease to increase in complexity. The acquired liberty ishowever not absolute. On one hand the autonomy given to the local public sector in its recourse to debt remains relative as long as the State continues to impose a multi-layered framework - this takingplace not only through the existence of rules but also through the implementation of contro lprocedures. On the other hand, this same autonomy enabled the rise of new challenges for localdeciders : the notion of financial risk found itself at the very heart of their debt policies. The mostrecent event with regards to local debt is a perfect illustration of this autonomy and constraintparadox, and local authorities faced great difficulties regarding their resort to credit
Pyć, Agnieszka. "Analysis of alternative methods of operational risk transfer across financial industry sectors." Berlin Pro Business, 2009. http://d-nb.info/995945837/04.
Full textFink, Gerhard, Peter Haiss, and Goran Vuksic. "Changing importance of financial sectors for growth from transition to cohesion and European integration." Europainstitut, WU Vienna University of Economics and Business, 2004. http://epub.wu.ac.at/184/1/document.pdf.
Full textSeries: EI Working Papers / Europainstitut
Хлопотов, Д. С., and D. S. Khlopotov. "Факторы повышения конкурентоспособности международного банка на российском рынке : магистерская диссертация." Master's thesis, б. и, 2020. http://hdl.handle.net/10995/95063.
Full textThe relevance of the study stems from the fact that banking is a highly competitive environment and in light of the proceeding of globalization and consolidation of the financial sector, a decrease in the number of private banks, which caused, in turn, processes of mergers, acquisitions, and the failure to counter major market agents, while maintaining the necessary requirements that are set by regulators. Financial institutions are forced to increase their arsenal of competitive advantages, actively use retained earnings to form distinctive competitive factors and monitor existing offers on the market. As a result, credit institutions need to take a critical approach to the successes and failures of foreign colleagues, increasing the efficiency of the banking business, forming their own unique competitive advantages.
Sawadogo, Relwendé. "Essais sur les déterminants et les conséquences macroéconomiques du développement du secteur d’assurance dans les pays en développement." Thesis, Clermont-Ferrand 1, 2016. http://www.theses.fr/2016CLF10493/document.
Full textThis thesis is composed of a set of research in applied economics that enroll in the contemporary field of economics of insurance. The thesis analyses how developing countries could develop more the insurance sector and benefit from these effects on local economy. The first part explored the determinants of insurance development from a macroeconomic perspective. First, the results show that increase of income per capita leads to an increase in life insurance premiums and that life insurance is a luxury commodity in Sub-Saharan Africa (chapter 2). We also find evidence that the marginal impact of income varies according to the quality of legal and political environment. Second, analysis of effect of the FDI inflows shows that these are a key factor in increase of non-life insurance premiums in countries of Sub-Saharan Africa (SSA) and in other developing countries (chapter 3). In chapter 4, the results highlighted that the activities of life insurance and banking are substitutable in SSA and, however, there is presence of unidirectional causality running from real private credit density to life insurance and insurance density. The second part of the thesis has analysed effect of development of insurance sector on economy in developing countries. First, it appears that the development of life insurance has a positive effect on economic growth on the one hand and on the other hand marginal effect of life insurance is influenced by the structural characteristics of countries (chapter 5). In chapter 6, the results showed that the insurance premiums significantly increase stock market value traded, before as well and after the 2007's economic crisis. Finally, the thesis showed that there is a long term relationship between the development of non-life insurance and trade openness and that non-life insurance premiums improve openness to international trade as well in developing countries than specifically in low and middle income countries (chapter 7)
Gächter, Martin, Martin Geiger, Florentin Glötzl, and Helene Schuberth. "Sectoral Deleveraging in Europe and Its Economic Implications." Oesterreichische Nationalbank, 2015. http://epub.wu.ac.at/6272/1/foeei.pdf.
Full textTsukamoto, Shuhei. "The sectoral analysis of credit direction and rationing in Japan from 1954 to 1991 : from the viewpoints of flow-of-funds accounts, financial reforms, and business investments /." St. Lucia, Qld, 2004. http://www.library.uq.edu.au/pdfserve.php?image=thesisabs/absthe18082.pdf.
Full textČuba, Vojtěch. "Finanční zajištění veřejného projektu v průběhu jeho realizace." Master's thesis, Vysoké učení technické v Brně. Fakulta stavební, 2016. http://www.nusl.cz/ntk/nusl-239945.
Full textAkinwande, Gbenga Segun. "WORKING CAPITAL MANAGEMENT IN TELECOMMUNICATION SECTOR." Thesis, Blekinge Tekniska Högskola, Sektionen för management, 2010. http://urn.kb.se/resolve?urn=urn:nbn:se:bth-1180.
Full textPIFFER, MICHELE. "Saggi sul Credito e la Macroeconomia." Doctoral thesis, Università Cattolica del Sacro Cuore, 2012. http://hdl.handle.net/10280/1268.
Full textThis dissertation argues that the transmission mechanism of monetary policy hides a risk taking channel, as loose monetary policy not only increases credit supply but also increases the propensity of banks to take risks. The existing macroeconomic models are ill-designed to identify the forces of this mechanism, as these models either do not have an explicit banking sector, or they focus on ex-post amplification mechanism rather than ex-ante bank risk taking. A simple model is developed, where credit and solvency risk is determined endogenously. The model shows that a trade-off exists between credit quality and credit quantity, and this trade off impacts on the effectiveness of monetary policy. Subsequently, the dissertation develops an empirical, policy paper that investigates banks leverage ratios. It is argued that traditional measures of leverage cannot detect an important decline in bank capital quality before the 2007 crisis. The dissertation shows that capital quality has declined progressively before the 2007 crisis, particularly for commercial banks. A new leverage ratio is proposed.
Mogha, Vipin. "Three Essays on the Influence of National Culture on Corporate Finance." Thesis, Université Clermont Auvergne (2017-2020), 2020. http://www.theses.fr/2020CLFAD004.
Full textThe premises of this doctoral dissertation is investigating the role played by national culture on corporate financial choices and outcomes. The investigation is done through three empirical essays. The first essay analyzes the influence of national culture on firms’ capital structure choices. The second essay is analyzing the role played by national culture on firms extending more or less trade credit from pre-to-post the mortgage financial crisis. The third essay analyzes the influence of national culture on firms’ market value. Furthermore, a chapter of theoretical conceptualization is done to fit these empirical essays work into a mathematical topology framework. This doctoral dissertation work finds itself at the junction of three broad sets of research bodies. These are the literature around the New Institutional Economics (NIE), the finance literature, and the social economics literature. We glue these literature sets together through the general mathematical topology framework to structure our culture and finance research. Chapter 2 introduces these literature sets and describes the foundations of our three essays.Chapter 3 (essay one) presents the analysis of the links between national culture and firms financing choices leading to their capital structure. Chapter 4 (essay two) presents the analysis of culture’s influence on firm’s choice of extending higher or lower trade credit from pre-to-post the 2008 mortgage financial crisis. Chapter 5 (essay three) presents how firms’ financial value maybe influenced national cultural values.National culture is defined as the firm’s country-of-origin cultural values. We represent it by four of Hofstede (1980, 2001) six cultural dimensions of individualism, masculinity, uncertainty avoidance, and long-term orientation. Hofstede national culture dimensions are largely applied in the growing culture and finance literature, thus providing strong empirically validity. Our choice of Hofstede dimensions are described in chapter 2.We apply these cultural dimensions in our three essays. Our empirical analysis is build following the New Institutional Economics framework (Williamson, 2000). This framework is the key structure around which we are able to build the theoretical bodies of our three essays. NIE has popularized the understanding and acceptance of the non-financial constraints –in macro-and-micro economics– of the social embeddedness level of culture. We empirically test the hypotheses in our three essays following Williamson NIE framework. The empirical tests are done on samples of listed firms from over 30 countries. These tests provide a broad applicability of our results to firms in the globalized economy. The results of our three essays meet our hypotheses expectations of culture’s influence on firms’ financial choices and outcomes.The results provide all stakeholders a lens to view and analyze corporate financial choices and outcomes through firms’ national culture values. Indeed, the financial numbers one may read may have different meaning depending on firm’s country-of-origin cultural values. This understanding would have multiple implications for investors, creditors, managers, shareholders, and policy makers. It may help them in their investing, lending, financing, returns expectations, and policy design to optimize their profits
Yu, Weibin. "Disaster Risk Management in Agricultural Sectors of China with Focus on Complementarity between Revised Institutions and Traditional Functions." 京都大学 (Kyoto University), 2008. http://hdl.handle.net/2433/68761.
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新制・課程博士
博士(工学)
甲第14224号
工博第3008号
新制||工||1446(附属図書館)
26542
UT51-2008-Q693
京都大学大学院工学研究科都市社会工学専攻
(主査)教授 岡田 憲夫, 教授 小林 潔司, 教授 多々納 裕一
学位規則第4条第1項該当
"Modelling the demand for credit to the private sector in South Africa : an investigation of aggregate and institutional sector factors." Thesis, 2013. http://hdl.handle.net/10210/8730.
Full textThe recent global financial and economic crisis has brought about renewed interest in the nexus between credit markets and monetary policy. This research aims to contribute to the understanding of the factors that drive the demand for credit on an aggregate level, and the household and corporate sectors for the South African economy. The study assessed the equilibrium determinants of the aggregate and sectoral demand for credit in South Africa by making use of a cointegrated vector autoregression (CVAR) methodology. In addition, the periods of debt overhang and short-falls, at aggregate and sectoral levels in the credit market, are derived from these equilibrium levels. The estimated models indicate the existence of long-run relationships for the aggregate credit demand equation, a classic demand-type relationship linking aggregate credit with gross domestic product (GDP) and the lending rate is established. For credit extended to the corporate sector, the results indicate that in the long-run it is determined by investment expenditure, operating surpluses and the lending rate. Whereas for credit extension to the household sector, it was found that the lending rate, disposable income and household debt were its important long-run determinants. All the results of the estimated equations are in line with a demand-type relationship and the traditional hypothesis that credit is demanded to finance real economic transactions, namely for liquidity purposes and to finance working capital. The results of the short-term dynamics indicate that credit extension variables are the equilibrium variables, although the speed of adjustment parameter is found to be sluggish, which shows that the slow adjustment to equilibrium from shocks to the credit markets is attributable to the existence of stronger frictions and transaction costs in credit markets. These findings justify the persistent periods of credit overhang and short-falls in South Africa that this study derives from the equilibrium coefficient terms. The study shows that periods of credit overhang and short-falls are linked to the business cycle phases in South Africa.
Katoroogo, Rachel Mindra. "Behavioural determinants of financial inclusion in Uganda." Thesis, 2016. https://hdl.handle.net/10539/23819.
Full textFinancial Inclusion seeks to overcome the friction that hinders markets from expanding access and use of formal financial products and services to a broad number of people. Despite the significant policy efforts and increased presence of formal financial service providers, the Ugandan economy still bears low levels of financial inclusion, especially in the rural areas. The finance growth and decision-behaviour theories substantiate the importance of understanding the psychological processes underlying observed individual judgments or choices regarding the use of formal financial services. Using Sen’s capability approach, this study examined the personal and societal capabilities that influence financial inclusion of individual financial consumers. Specifically, this study assessed whether the capabilities an individual possessed actually contributed towards their likelihood of financial inclusion. The hypothesized study relationships with financial inclusion were realized, following a positivist and quantitative approach using a cross sectional research design. The sample of 400 individuals to whom the survey questionnaire was delivered were drawn from two distinct regions of Central and Northern Uganda. The two regions represented varying levels of financial inclusion - high inclusion (urban Central) and low inclusion (rural Northern). In this study, besides the traditional regression models, structural equation modelling using Analysis of Moments (AMOS), were used to establish the causal relationships between the hypothesized study variables. The study results revealed that financial self-efficacy, financial literacy, social networks and the interaction of the personal and societal capabilities significantly contributed to an individual’s financial inclusion across the two regions. The results further revealed that the personal and societal capabilities independently, and when combined, contribute towards an individual’s financial self-efficacy. Through an assessment of the mediation effect, this study demonstrated how financial self-efficacy can boost individuals to confidently undertake financial tasks and decisions and consequently, financial inclusion in relation to their capabilities, respectively. The results provide support to Sen’s capability theory as a tool for explaining financial inclusion from a demand side perspective within the Ugandan context.
GR2018
Arsyad, Lincolin. "An assessment of performance and sustainability of microfinance institutions a case study of village credit institutions in Gianyar, Bali, Indonesia /." 2005. http://catalogue.flinders.edu.au/local/adt/public/adt-SFU20060621.142512/index.html.
Full textMadula, Mulalo. "Does trade credit facilitate access to bank finance? : empirical evidence from South Africa." Diss., 2017. http://hdl.handle.net/10500/23215.
Full textEconomics
M. Com (Economics)
Breitschopf, Barbara [Verfasser]. "Rural financial markets under transformation : a study on credit supply and demand in Romania's private farm sector / vorgelegt von Barbara Breitschopf." 2003. http://d-nb.info/968501648/34.
Full textCarvalho, Ana Cristina Lamez Rodrigues. "Pequenas e médias empresas do sector de turismo e risco de crédito." Master's thesis, 2012. http://hdl.handle.net/10071/5044.
Full textRegarding the turbulence of the financial markets, after the disturbances caused by the economic and financial crisis trigged in 2007, by the subprime market, the banking system thickened their criteria for access to credit, affecting individuals and enterprises. The aim of this dissertation project is to understand the impact in the concession of credit and to analyse the ability to repay, for the enterprise segment, more specifically for small and medium enterprises of tourism sector. This structure was selected given its representativeness in the Portuguese business and its contribution to the economy. On the other hand, the intention of this project is also to understand what the most valuable indicators for the credit institutions are, to distinguish the risk levels of each client or enterprise. For this purpose, were randomly selected enterprises that were honoured in 2000 with the status of PME Excelência (SME Excellence), assigned by the IAPMEI (the Institute for the Support of Small and Medium Enterprises and Innovation), in partnership with the major financial groups operating in Portugal. For these thirty one enterprises, different ratios were calculated, identified as preponderant for the risk analysis, and afterwards was assessed if any enterprise would maintain economical and financial structure, after ten years, which would allow them to be honoured as PME Líder (SME Leader) or eventually Excelência (SME Excellence). The results point to a few confirmations that status, thus showing significant degradation in performance of these companies
Nevrla, Matěj. "Systémové riziko ve finančním a energetickém sektoru: přístup dynamických faktorových kopula funkcí." Master's thesis, 2016. http://www.nusl.cz/ntk/nusl-345272.
Full textJesus, Maria Teresa de. "O papel do setor bancário para o crescimento económico de Angola." Master's thesis, 2014. http://hdl.handle.net/11328/1569.
Full textDzikiti, Weston. "Banking sector, stock market development and economic growth in Zimbabwe : a multivariate causality framework." Diss., 2017. http://hdl.handle.net/10500/22818.
Full textBusiness Management
M. Com. (Business Management)
Silva, Quitéria de Castro Carneiro da. "Crescimento económico e setor financeiro em São Tomé e Príncipe." Master's thesis, 2012. http://hdl.handle.net/10071/7856.
Full textA economia santomense apresenta particularidades a nível fiscal, externo e financeiro que são essenciais para o seu desenvolvimento. O presente artigo tem o propósito de contribuir para a compreensão dessas particularidades. Por um lado, efetuar a estimativa da tendência recente do desempenho económico, e por outro, explicar o contributo do setor financeiro na performance económica. Como o desenvolvimento recente do sistema financeiro afeta o crescimento económico santomense? Para responder a questão, o trabalho recai num estudo exploratório e descritivo de longo prazo do funcionamento da economia. Especificamente, o relatório versa numa análise do setor financeiro, destacando os principais benefícios da sua performance nos últimos dez anos. Os resultados obtidos são consistentes com as teorias de que o sistema financeiro promove serviços que são necessários para a atividade económica de longo prazo.
The economy of Sao Tome has a particular level of taxation, external and financial which are essential for its operation. This article aims to contribute to the deepening and understanding these peculiarities. On the one hand, seeks to estimates of the recent trend of economic performance, and secondly, to explain the contribution of the financial sector in economic performance. As the recent development of the financial system affects santomean the economic growth? To answer the question, the work falls in exploratory and descriptive study of long-term functioning of the economy. Specifically, the report is based on an analysis of the financial system, highlighting the key benefits of its performance in the last 10 years. The results are consistent with the theory that the system promotes financial services that are required for activity of long term.
Vukić, Igor. "Macro Stress Testing on Credit Risk of banking sectors in PIIGS countries." Master's thesis, 2014. http://www.nusl.cz/ntk/nusl-341197.
Full textPieterse, Hendrick Christoffel. "The National credit act of South Africa and the motor finance sector." Thesis, 2009. http://hdl.handle.net/10500/3737.
Full textIn the midst of a global recession, this study explored whether the act of obtaining motor vehicle finance has become more onerous since the implementation of the National Credit Act, 2005, (NCA), and to determine which variables are contributing to the phenomenon of declining motor finance figures. A quantitative research methodology was applied whereby a portion of the analysis was based on historical motor finance application data attained from a medium sized motor finance institution. Another portion considered survey data obtained from 152 South African consumers and 42 Credit Analysts collected by way of self administered questionnaires. Various statistical tools, including Independent Sample t-Tests and Pearson product-moment correlation tests were applied to the data. The results of the study indicate that the act of obtaining motor finance has indeed become more complex since the inception of the NCA. Of the variables tested, motor vehicle retail prices and general living costs were identified as the main impediments limiting the amount of motor finance granted in the South African motor finance sector.
Lagoa, Sérgio. "Diferenças sectoriais no acesso ao crédito bancário em Portugal: uma análise de dados em painel usando o inquérito de conjuntura ao investimento." Master's thesis, 2012. http://hdl.handle.net/10071/7896.
Full textCom a crise de dívida que assola Portugal, o racionamento de crédito tem sido apontado como prática corrente por parte dos bancos. As empresas indicam que não recebem o crédito que pretendem. O racionamento de crédito ocorre por haver um desequilíbrio no mercado, entre a procura e oferta de crédito, havendo excesso de procura quem oferece tende a analisar de forma mais pormenorizada e criteriosamente o crédito concedido para assim reduzir o risco o mais possível. A assimetria de informação por partedas empresas é um dos maiores obstáculos na concessão de crédito. A falta de total transparência da empresa leva a que a banca tenda a recusar financiamento como forma de reduzir o risco a que está sujeita, muitas vezes a empresas com capacidade de fazer face ao serviço de dívida. Este estudo possibilita averiguar se em Portugal asempresas dos principais sectores de actividade têm tido o seu crédito racionado e quaisas variáveis que influenciam o racionamento de crédito. De acordo com as conclusões do estudo, em média entre 2002 e 2009 apenas o sector da construção e do imobiliário é que não foram alvode racionamento, os restantes foram alvo de racionamento em diversos períodos da análise.
With the debt crisis plaguing Portugal, credit rationing has been considered standard practice by banks. Companies suggest that they don't get the credit they want. The credit rationing occurs because there is an imbalance in the market between demand and supply of credit, there is an excessive demand that leads to a more careful and detailed analysis in order to reduce the as much aspossible. The asymmetry of information by companies is a major obstacle in the concession of credit, the not total transparency of the companies leads banks to withhold funding as a way to reduce the risk to which it is subject, often to companies with the ability to face the debt service. This study makes it possible to ascertain whether companies in Portugal of major sectors have had their credit rationed and which variables influence credit rationing. According to the findings, in average, between 2002 and 2009, only the construction industry and real estate didn’t have their credit rationed, the rest were subject to rationing in various periods during the analysis.
Diekmann, Katharina. "Three Essays on Financial Development in Emerging Markets." Doctoral thesis, 2013. https://repositorium.ub.uni-osnabrueck.de/handle/urn:nbn:de:gbv:700-2013051310847.
Full textBarros, Tchibwabwa Sefo Maria. "O alisamento dos resultados no sector bancário angolano. uma análise através das provisões para crédito de cobrança duvidosa." Master's thesis, 2017. http://hdl.handle.net/10316/82206.
Full textO objectivo desta dissertação centra-se na problemática da manipulação de resultados no sistema financeiro bancário angolano no período de 2008-20014. Nos investigamos se os bancos da banca angolana alisam os resultados e se os gestores usam a conta de provisões para credito de cobrança duvidosa como uma ferramenta para alisar os resultados e gestão de capital. Analisamos também o comportamento da conta provisões para credito de cobrança duvidosa durante o período de crise financeira. Para alcançar os objectivos traçados, iniciamos por fazer a contextualização do actual estado do sistema económico e financeiro da Banca Angola, seguido de uma revisão de literatura sobre estudos que retratam do alisamento de resultados, gestão de capital, provisões para credito de cobrança duvidosa e o comportamento das provisões para credito de cobrança duvidosa durante os períodos de crises financeiras. Em seguida, com base na revisão de literatura definimos os modelos para testar a hipótese de alisamento de resultado, seguimos o modelo dos coeficientes de variação apresentado por Eckel, (1981), e o modelo econométrico apresentado por Pérez, et al., (2006) para testar a robustez dos resultados das provisões para credito de cobrança duvidosa. Os nossos resultados demostram evidencias que os bancos alisam os resultados e que durante o período de crise financeira mais de 72% das instituições financeiras bancarias alisam os resultados. encontramos evidencias que os gestores bancários usam provisões para credito de cobrança duvidosa para alisar os resultados e gestão de capital. não encontramos evidencia de que os gestores usam as PCCD, para alisarem os resultados durante os períodos de crise financeira.
The goals of this dissertation focuses on the problem of manipulation of results in the Angolan banking financial system. We investigate whether Angolan banks' banks income smooth and whether managers use the loan loss provision accounts as a tool to smooth results and management capital. We also analyze the behavior of the loan loss provision accounts during the financial crisis period. In order to reach the objectives outlined, we began by contextualizing the current state of Angola's economic and financial system, followed by a literature review on studies that portray income smoothing, capital management, loan loss provision accounts during periods of financial crises. Following the literature review we defined the models for testing the income smoothing hypothesis, then we followed the model of the coefficients of variation presented by Eckel, (1981), and the econometric model presented by Pérez, et al. (2006) To test the robustness of the results of the allowance for doubtful accounts. Our results show evidence that banks smoothed the results in the period of 2008-2014, and that during the financial crisis period more than 72% of financial institutions banking are smoothed the results through the model of the coefficients of variation of the Eckel. We find evidence that bank´s managers use loan loss provisions to income smooth and manage capital. We do not found evidence that managers use the loan loss provision to smooth out the results during periods of financial crisis.
Partovi, Lauren Neda. "Creative financing & strategies for mixed-income transit oriented development in Dallas, Texas." 2013. http://hdl.handle.net/2152/22670.
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Drechsel, Katja. "Macroeconomic Challenges in the Euro Area and the Acceding Countries." Doctoral thesis, 2010. https://repositorium.ub.uni-osnabrueck.de/handle/urn:nbn:de:gbv:700-201012176732.
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