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1
Татар, Марина Сергіївна, and Ольга Михайлівна Козловська. "ВИЗНАЧЕННЯ ГЛИБИНИ КРИЗОВИХ ЯВИЩ БАНКІВСЬКИХ УСТАНОВ ТА РОЗРОБЛЕННЯ АНТИКРИЗОВИХ ЗАХОДІВ." TIME DESCRIPTION OF ECONOMIC REFORMS, no. 4 (January 27, 2020): 65–75. http://dx.doi.org/10.32620/cher.2019.4.09.
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In the current economic environment, due to economic and political instability, a large number of banks are unable to adequately respond to changes of external and internal environment, which can lead to crisis situations, so the problem of identifying patterns and causes of banking crises, as well as identifying opportunities to overcome them relevant. The aim of the research is development of theoretical and methodological provisions on the patterns of occurrence of banking crises and development practical recommendations on the use of methods and tools that can prevent and overcome crisis phenomena. The subject of the research is the regularity of the occurrence of banking crises and the implementation of the mechanism of banks anticrisis management. The methods of the research: analysis, synthesis, abstract and logical, comparative and statistical, generalization and grouping; structural, functional, integral method, etc. The hypothesis of the research. There is a need for differentiation of anti-crisis measures depending on the level of bank crisis state. The statement of basic materials. Factors of occurrence of banking crises are classified. The comprehensive approach to the diagnosis of crisis phenomena in the financial activity of banks has been developed. It is determined that in selecting the criteria and indicators for identifying the bank crisis state, differentiated approach should be used, which is based on the proposed system of indicators, which should reflect the level of bank capital adequacy, liquidity, financial stability, business activity, profitability and efficiency indicators of bank profitability and efficiency so the most important indicators of bank's activity. Preventive and reactive measures in the anticrisis management system of banks depending on the level of the crisis state are proposed. The originality and practical significance of the research is development a comprehensive approach to crisis diagnosis in bank operations on the bases of publicly available data obtained from the published financial statements of the bank. Conclusions and perspectives of further research. Crisis phenomena were diagnosed in the activity of PRAVEX BANK JSC, the complex of preventive and reactive measures of anti-crisis management of banks financial activity was developed, which is a set of methods and instruments aimed at achieving certain target targets, formulated according to crisis stage and depth.
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Melnyk, Viktor, and Olga Kolesnik. "ТЕОРЕТИЧНІ АСПЕКТИ ДОСЛІДЖЕННЯ СУТНОСТІ АНТИКРИЗОВОГО МЕНЕДЖМЕНТУ БАНКІВСЬКИХ УСТАНОВ." PROBLEMS AND PROSPECTS OF ECONOMIC AND MANAGEMENT, no. 4(20) (2019): 334–41. http://dx.doi.org/10.25140/2411-5215-2019-4(20)-334-341.
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Within the article, theoretical aspects of the study of the category essence "anti-crisis management of the bank" are studied. For this purpose, the content analysis methodology to identify scientific approaches to understanding the nature of the definition of "anti-crisis management" was used, that allowed to distinguish the following concepts of this category inter-pretation: discrete, proactive-permanent, reactive-dynamic. In addition, the concept of the content review of the category of "anti-crisis management of the bank" formed in scientific works is analyzed, and groups of potential crisis situations, which can negatively affect the activities of banking institutions, are established; the above include the following: objective-ontological, exogenous-destructive, national- destabilization, sector-specific, endogenous-destructive.
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Ali, Isam Eldin Hassan, Dr Abdelaziz M. Humd, Dr Manal Mostafa, and Hamza Abdallah. "Quality Control in Screening for Infectious Diseases at Blood Banks." Scholars Journal of Applied Medical Sciences 10, no. 2 (February 28, 2022): 261–62. http://dx.doi.org/10.36347/sjams.2022.v10i02.022.
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Background: It has long been recognized that blood bank institutions have an obligation to not only provide a safe product for patients, but also to protect the health and welfare of their donors and their staff. Quality control procedures are indispensable to en¬sure the reliability of the results provided by labora¬tories responsible for serological screening in blood banks. International recommendations on systems of quality management classify as a top component the inclusion of two types of control: (a) internal quality control (IQC) and (b) external quality control (EQC). Methods: A total of 300 donations were collected and screened for HBV, HCV, syphilis and HIV-1 using the enzyme inked immune sorbent assay. All initially reactive (IR) samples were retested in triplicate and, if repeatedly reactive (RR), consider as reactive. Results: The results showed that the sensitivity and specificity of the QCs in anti-B testing were 100% and 98.7%, respectively. The sensitivity and specificity of the QCs in testing, viral screening were all 99%. Therefore our QC products and methods are highly sensitive, specific, and reliable. Our study paves the way for the establishment of a uniform and standardized QC method for pre-transfusion compatibility testing in Sudan and other parts of the world. Conclusion: The implementation of screening for three viruses has improved blood safety in Sudan.
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Festić, Mejra. "THE ROLE OF THE FOREIGN BANKS IN THE 5 EU MEMBER STATES / UŽSIENIO BANKŲ VAIDMENS 5 EUROPOS SĄJUNGOS VALSTYBĖSE TYRIMAS." Journal of Business Economics and Management 13, no. 1 (February 21, 2012): 189–206. http://dx.doi.org/10.3846/16111699.2011.620156.
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The article tests if foreign banks have lowered their market share in the Baltic States, Romania and Bulgaria during the recent financial crisis after 2007, due to the perception of risk exposure in local markets. It has been proved that, the credit supply by foreign banks in the Baltic States, Romania and Bulgaria has remained relatively stable during the latest crisis by TSLS method. Foreign ownership generally utilizes derivative products more than domestic banks in the NMSs because they have more expertise in hedging and can diversify risks effectively with their larger parent banks in their home country. The reaction of foreign banks abroad depends on the capital adequacy of the parent bank and the business opportunities in the host economies. Santrauka Straipsnyje analizuojamas užsienio bankų vaidmuo penkiose Europos Sąjungai priklausančiose valstybėse – Baltijos šalyse, Rumunijoje ir Bulgarijoje. Autorius tyrimui pasirinko užsienio bankų užimamos rinkos dalies vertinimą ir ekonomikos krizės poveikio nustatymą šių bankų veiklos rodikliams bei rinkos daliai. Gauti rezultatai parodė, kad kreditų pasiūla, teikiama užsienio bankų Baltijos šalyse, Rumunijoje ir Bulgarijoje, išliko palyginti stabili. Tai galima susieti su tuo, kad užsienio bankai taiko ir naudoja išvestinius produktus, motyvuodami tuo, jog turi daugiau patirties ir gali diversifikuoti riziką, efektyviai naudodami juos remiančių savos šalies („motininių“) bankų finansinius išteklius. Tyrimas taip pat parodė, kad užsienio bankų reakcija į rinkos pasikeitimus vienoje ar kitoje valstybėje tiesiogiai priklauso nuo „motininio“ banko kapitalo pakankamumo ir ekonominių verslo sąlygų toje šalyje.
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Klinac, Ivica. "Analiza reaktivnog djelovanja bankovnog sustava EU-a kroz najavu izmjene prudencijalnog regulatornog okvira u funkciji očuvanja financijske stabilnosti." Oeconomica Jadertina 9, no. 1 (June 5, 2019): 3–23. http://dx.doi.org/10.15291/oec.2833.
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The establishment of supranational banks regulatory authorities has directly contributed to a better understanding of the behaviour and impact of the banking sector on economic flows comprehensively. Institutional linkage of national regulatory bodies in the context of globalization relations contributes to the desired standardization of data, which are the basis for every valid economic analysis. The market discipline as the backbone of modern regulation reduces especially the banking firm opacity area, while on the other hand the availability of relevant databases expands the horizons of the model approach to banking sector analysis. The dominance of the same sector as a source of external financing on a common European market is the starting point in seeking solutions of emersion from stagnant pressures on economic trends. The dynamism of causative economic relationships imposes the need for ever greater reliability in data sources, hence the representativeness of the sample not only directs an individual research but also determines the cognitive process itself. The analysis of publicly available banking firm data using modern econometric tools is certainly a significant step forward in the attempt to establish a clear and transparent methodological framework for monitoring the reactive activity of the banking sector to the necessary change of regulatory terms in the function of post-crisis launch of the credit cycle. The empirical analysis of the banking sector alignment with new capital requirements will be tested in this paper on a sample of 35 banking groups operating in the EU area for the period from 2000 to 2016, selected by size of assets. The selection of the dynamic panel was performed through panel modelling analysis using Generalized Method of Moments (GMM). The research results have provided evidence that the announcement of the increase in regulatory capital affects the growth of total banking assets, namely there is a significant increase in the share of non-risky assets in bank assets, while on the other hand there is a credit contraction that facilitates the regulatory requirements compliance. Finally, the management structures over the net interest margin as a credit and deposit policy instrument reallocate their own and other resources in the function of preserving the liquidity and solvency of the bank in general.
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Drahan, O. O., I. O. Herasymenko, and N. O. Verniuk. "Anti-crisis management of the bank in the conditions of financial market instability." Collected Works of Uman National University of Horticulture 2, no. 99 (December 22, 2021): 40–49. http://dx.doi.org/10.31395/2415-8240-2021-99-2-40-49.
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The aggravation of problems in the banking system is generally associated with the deterioration of the financial condition of some banks under the COVID-19 pandemic, military aggression in eastern Ukraine and the need to introduce anti-crisis management. The lack of timely and effective crisis management has led to the liquidation of more than forty commercial banks over the past five years. The need for crisis management by domestic banks is exacerbated by the instability of the financial market and requires a review of views on the essence of crisis management. The purpose of the article is to develop theoretical provisions for crisis management in conditions of financial market instability. The theoretical and methodological basis of the study were the scientific works of domestic and foreign scientists. Scientists most often associate anti-crisis bank management with the banking crisis, that is, the state of the entire banking system, and at the same time level other destructive factors. The set of commercial banks that received a net loss was determined: A critical analysis of the definitions of domestic scientists, the concept of "anti-crisis management of the bank" and identified the following groups of approaches: as a process of identifying, preventing and overcoming crisis phenomena; as a process aimed at identifying and preventing crisis situations; as measures taken during the crisis; as measures to rehabilitate the bank; as measures to increase the solvency of the bank; as a component of the bank's financial stability management; as a component of achieving the effective functioning of the bank; as a system for counteracting the bankruptcy of the bank. It is proposed to understand the essence of the category "anti-crisis management of the bank" as a special type of management, interpreted in a narrow and broad sense with the need for specific types and management methods and carried out to diagnose, prevent, neutralize and overcome crisis phenomena, including financial instability market.
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Meiste, Ruta, and Sandra Jakstiene. "Crisis diagnosis in anti-crisis management process in a company." Oeconomia Copernicana 6, no. 4 (December 31, 2015): 49. http://dx.doi.org/10.12775/oec.2015.028.
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The relevance of the crisis situation diagnosis is confirmed by the diagnosis decisions designed and applied in the business practice, audit reports, bank assessment methods and company‘s own concernment. The aim of the research is to define crisis development stages and possible preventive means and to design the crisis diagnosis system in the anti-crisis management process in a company. The paper deals with four stages of crisis development: prodromal crisis (CP), acute crisis (CA), and chronic crisis (CC). Crisis resolution (CR) is the final goal of any crisis management. When a crisis is overcome, its performance stabilizes and a company starts to grow. Therefore, the main point in company’s management process is to notice the barrier when company’s performance starts going down, in order to foresee the result which can cause crisis situation in a company.
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Nataliіa, Pantielieieva. "TECHNOLOGIES OF ARTIFICIAL INTELLIGENCE IN A BANK ANTI-CRISIS MANAGEMENT." Scientific Herald of Kherson State University: Economics Sciences 33 (March 25, 2019): 193–97. http://dx.doi.org/10.32999/ksu2307-8030/2019-33-38.
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Sydykova, Ch K., Sh Kh Atakhodjaev, U. M. Abdyldaeva, and T. Sh Atakhodzhaeva. "THE NEED FOR ANTI-CRISIS MANAGEMENT BASED ON FINANCIAL DIAGNOSTICS." Herald of KSUCTA n a N Isanov, no. 2-2021 (June 24, 2021): 292–95. http://dx.doi.org/10.35803/1694-5298.2021.2.292-295.
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This article reveals the issues of the need for financial diagnostics of an enterprise to determine the financial situation in it. Another equally important reason for interest in diagnostic tools is the need for enterprises to use bank loans to finance their activities. Effective diagnostic tools give direction to the need to use a bank loan to finance the activities of an enterprise, the volume of which is increasing from year to year against the backdrop of a growing share of overdue loans and general insolvency of borrowers. Banks transfer most of their monetary funds and assets for long-term use to borrowers in the form of a loan. For this reason, the work of banks depends on experience, the level of professional training, methodological, instrumental support of employees who are involved in providing loans to representatives of commercial enterprises. Bank specialists must have reliable information about the financial stability of the company - the borrower. Based on the analysis received, the specialist makes a conclusion about the issuance of a loan. An objective analytical assessment of financially stable enterprises enables the bank to issue a loan on certain conditions. This ensures the profitable operation of banks, as well as the effectiveness of the development of the national economy, clearing it of unprofitable objects. Therefore, the study of the application of financial diagnostics in anti-crisis management is relevant.
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Mishi, Syden, and Sibanisezwe Alwyn Khumalo. "Bank stability in South Africa: what matters?" Banks and Bank Systems 14, no. 1 (February 27, 2019): 122–36. http://dx.doi.org/10.21511/bbs.14(1).2019.11.
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The study examined the determinants of bank stability within the South African banking sector. By controlling for individual bank characteristics and market characteristics, the study determined possible determinants of solvency, a proxy for bank stability, measured by z-score within the South African financial sector. The South African financial sector is highly concentrated but with a significantly large number of banks, the greater portion being foreign owned banks. The business models of some of the financial intermediaries differ from the big four and therefore the influence of the type of business model is of great interest in this study, as it highlights a unique feature of the South African financial sector. The study’s investigation used panel data estimation techniques and found that among the specific bank characteristics, lending activity and capitalization do significantly affect solvency of banks and at sector level concentration was significant. The crisis dummy also revealed that the presence of a financial crisis heightened insolvency. The results have implications for financial institutions and therefore are of interest to regulators, bank management and researchers. Policy prescription in the form of Prompt Corrective Action framework is made to ensure proactive reaction to trends likely to cause instability.
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Guermazi, Imene. "Investment account holders’ market discipline in GCC countries." Journal of Islamic Accounting and Business Research 11, no. 9 (May 11, 2020): 1757–70. http://dx.doi.org/10.1108/jiabr-04-2019-0067.
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Purpose The purpose of this study is to investigate the two components of market discipline, investment account holder (IAH) monitoring and the consequent reaction of the Islamic banks in GCC countries for the 2004–2013 period, including the recent financial crisis of 2008. Design/methodology/approach We address the research question that Investment Account holders (IAH) in GCC countries suc as Kingdom of Saudi Arabia (KSA), Bahrain and United Arab Emirates (UAE) monitor their banks. Regression analysis was used to examine the dependence level of profit-sharing investment account (PSIA) growth rate on bank risk characteristics (CAMEL variables). Then, the reaction of banks by regression influencing CAMEL variables of one-lagged period on PSIA growth rate was verified. Findings The results provide evidence of the first component of market discipline, i.e. the IAH monitoring, in KSA, Bahrain and UAE. The common result to the three countries is that market actors are concerned with accounting information on capital adequacy. However, in UAE, they are also interested in assets performance, whereas they look more at earnings in Bahrain. The results show evidence of the second component in Bahrain; the bank reaction to IAH monitoring and subsequently IAH discipline in Bahrain. Finally, the results do not support any impact of the financial crisis. Research limitations/implications The sample size is small although it is constituted by banks having a sufficient number of observations. Practical implications This study highlights the importance of IAH discipline, which would help prudential bank monitoring by regulators and wealth development for both investors and managers. It should increase the disclosure of relevant information as for the part of effective accountability of Islamic banks’ governance. Originality/value This study contributes to the literature on market discipline by dealing with Islamic banks. It is one of the very few studies to investigate IAH discipline in Islamic banks and the second component of market discipline, i.e. the influence of monitoring on banks.
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Abramova, Irina. "Anti-Crisis Personnel Management in the Modern Realities of Business Development." Modern Economics 24, no. 1 (December 16, 2020): 6–11. http://dx.doi.org/10.31521/modecon.v24(2020)-01.
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Annotation. Introduction. The main problem of modern crisis management is associated with the lack of preventive crisis management practices of socio-economic systems, resulting in a set of emergency response measures: staff reductions, salary cuts, curtailment of training programs and staff development, which destroys the foundation of the organization – human capital. Purpose. At the same time, there are certain problematic and debatable points in terms of the formation of anti-crisis management of human resources in terms of theory and practice. Results. Accordingly, the article forms approach to the interpretation of the concept of crisis management of personnel in terms of discussion aspects such as definition, elements, principles and functions, stages. It is determined that anti-crisis personnel management is considered in terms of preventive, reactive and comprehensive approach depending on the situation in the personnel system of the enterprise. The author’s definition of “anti-crisis personnel management” is formed, which means a type of management activity that includes a set of specific functions, forms, methods and means of preventive and reactive management influence on human resources, aimed at identifying crisis phenomena, preventing crisis, its localization and liquidation; minimization of its negative impact on the further development of the enterprise. It is proved that anti-crisis personnel management is a type of anti-crisis management, ie it is characterized by specific methods, subjects and tools. The causes of personnel crises are systematized and the varieties depending on the situation in the personnel and personnel policy of the enterprise are singled out. Conclusions. Regardless of the source (external or internal), the crisis is always accompanied by extremely negative phenomena for both the organization and staff: falling production and sales, financial insolvency, a clear deterioration in the financial situation of workers, lack of employment guarantees, uncertainty of the future, lack of initiative, etc. Therefore, the issues of forming an effective system of anti-crisis personnel management, based on a clear mechanism and tools for personnel management, are relevant. Keywords: anti-crisis management; personnel; principles of anti-crisis personnel management; functions and methods of management.
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Basaran-Brooks, Bahriye. "Money laundering and financial stability: does adverse publicity matter?" Journal of Financial Regulation and Compliance 30, no. 2 (November 12, 2021): 196–214. http://dx.doi.org/10.1108/jfrc-09-2021-0075.
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Purpose Already suffering reputational damage from the global financial crisis, banks face a further loss of trust due to their poor money laundering (ML) compliance practices. As confidence-driven institutions, the loss of reputation stemming from inadequate compliance with regulations and policies labels banks as facilitators of crime and destroys public trust both in the bank itself, peer banks and the wider banking system. Considering the links between financial stability and adverse publicity about banks, this paper aims to critically examine the implications of ML-specific bank information on financial stability. Design/methodology/approach This paper adopts a content analysis and a theoretical discussion by critically evaluating the role of bank compliance information on stability with references to recent case studies. Findings This paper establishes that availability of information regarding a bank involved in or facilitating ML might pose a threat to financial stability if bank counterparties cut their ties with the bank in question and when bank stakeholders show a strong and sudden negative reaction to adverse publicity. Though recent ML scandals have not caused immediate instability, general loss of confidence associated with reputational risk have had a destabilising effect on affected banks’ capital and liquidity. Originality/value There has been surprisingly little discussion to date on the impact of publicly available bank information on financial stability and public confidence within the ML compliance framework. This paper approaches the issue of publicly available banking compliance information solely through the prism of public confidence and reputational risk and its impact on macro-stability by examining recent ML scandals.
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Koval, Yana Sergeevna. "STRESS-TESTING OF COMPLEX RISKS IN THE BANKING SYSTEM, AS AN INSTRUMENT OF STATE ANTI-CRISIS MANAGEMENT." UKRAINIAN ASSEMBLY OF DOCTORS OF SCIENCES IN PUBLIC ADMINISTRATION 1, no. 12 (February 14, 2018): 138–48. http://dx.doi.org/10.31618/vadnd.v1i12.87.
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In the article the basic methods of crisis management of financial activity of banks are investigated. The constituent elements for the development of the program of financial rehabilitation of Ukrainian banks under the state anti-crisis management have been identified. The typology of stress-testing according to the functional orientation (sphere of use) is described. The types of stress-testing of risks in the banking system, as an instrument of state crisis management, are described. The basic methods of stress testing in the banking system as a tool of state crisis management are offered. The emphasis is on the factors in which stress testing is effective. Determined that the criteria for a successful exit from the crisis of the banking institutions, in addition to these results can be considered the use of certain methods of crisis management financing activities Bank: stop outflow of customers; creation of sufficient reserve of liquid assets; Achieving an optimal balance between assets and liabilities by maturity; reaching an agreement on restructuring with all or an absolute majority of creditors; absence of arrears of the bank before contractors; positive tendencies in returning debts by borrowers, increase of share of standard loans; stable tendency to reduce losses and subsequently — increase of the level of profitability of work; raising capitalization with a sufficient buffer of capital in the event of stress events and a steady excess of regulatory capital over statutory; stabilization of the management at the level of government and key units; closure of unprofitable or unpredictable and long-term business development projects of the bank; completion of the restructuring of the bank's affiliate network.
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Mihus, Iryna, Yana Koval, Serhiy Laptev, Olha Bala, and Marta Kopytko. "MONITORING THE STATE ANTI-CRISIS MANAGEMENT OF ECONOMIC SECURITY OF THE UKRAINE BANKING INSTITUTIONS." Business: Theory and Practice 21, no. 2 (November 18, 2020): 804–12. http://dx.doi.org/10.3846/btp.2020.12985.
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The study and synthesis of research showed that the most often anti-crisis management is considered, firstly, as a complex of preventive measures that is comprehensive and aimed at preventing and eliminating unfavorable phenomenon for business using existing resources and survival potential, and secondly, as implementation of special procedures for the withdrawal of economic agents from the crisis, in particular such as sanitation, restructuring, bankruptcy, liquidation. The main element of system control at the macro level is the state regulation of the economy, one of the most important tasks of which is the elimination of failures of functioning of the market mechanism at the micro level, that is, the creation of conditions for overcoming the crisis phenomenon in the activities of business entities. This task is solved by developing and implementing measures of state anti-crisis regulation. The main purpose of the article is to carry out diagnostics and monitoring in the system of state crisis management of economic security of banking institutions of Ukraine. In addition, the purpose of the article is also to study and systematize the technology of state anti-crisis regulation of banking institutions of Ukraine. The article highlights the criteria for assessing the system of anti-crisis management of financial stability of banking institutions at macro and micro levels. The diagnostics in the anti-crisis regulation of banking institutions of Ukraine is carried out. The main components of the monitoring in the system of state anti-crisis management in the banking institutions of Ukraine are noted. The levers of state anti-crisis regulation in the banking institutions of Ukraine are described. The measures and technologies of state anti-crisis management at the level of banking institutions of Ukraine are proposed. The results of the study can be used by banking institutions of Ukraine, the National Bank of Ukraine, financial institutions, etc.
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Rushchyshyn, N. M., T. V. Medynska, and S. М. Klymenko. "Application of Anti-Crisis Management by Ukrainian Banks in the Face of Modern Challenges." Business Inform 1, no. 528 (2022): 314–22. http://dx.doi.org/10.32983/2222-4459-2022-1-314-322.
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The article is aimed at substantiating the need to use the anti-crisis management of banking institutions as a comprehensive management system for research, prediction, elimination of hazards and threats in crisis situations. The approaches of scholars to disclosure of essence of the anti-crisis management of banks are presented; the types and instruments of the anti-crisis management of banking institutions in the external and internal environment are provided. The current state and tendencies of development of banking institutions of Ukraine for 2016-2021 are analyzed. The results of rating of stability of banks of Ukraine during the researched period are presented, which give grounds to assert the need to increase the stability of domestic banks on the basis of effective anti-crisis management systems. A risk map of Ukrainian banking institutions is presented, which allows to assert a reduction in macroeconomic risk and credit risk in 2021 compared to 2020, which indicates a certain improvement in banking regulation in Ukraine. A complex of anti-crisis measures to support banking institutions adopted by the National Bank of Ukraine is outlined. Having studied the development of banking institutions of Ukraine over the past six years, we believe that the use of anti-crisis management is relevant and necessary to ensure an adequate level of sustainability of their functioning. Anti-crisis management is an important element of the activities of Ukrainian banks in the face of modern challenges and threats, by reason that with the help of its effective use it is possible to achieve their stable functioning.
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Шагиева, Альбина, Al'bina Shagieva, Андрей Макаров, Andrey Makarov, Наталья Карпова, and Natal'ya Karpova. "INFORMATION AND INFRASTRUCTURAL COMPONENTS OF ANTI-CRISIS MANAGEMENT OF RURAL MUNICIPAL FORMATIONS." Vestnik of Kazan State Agrarian University 14, no. 1 (March 30, 2019): 157–63. http://dx.doi.org/10.12737/article_5ccedf7b3bc2a8.49830527.
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The anti-crisis management of rural municipalities is an organized special management, based on a set of specific management decisions taken by the governing bodies of institutions and organizations, state and local authorities in the context of resource constraints and increased risk. Monitoring the results of the crisis management of rural municipalities is aimed at tracking its condition and financial performance. The purpose of the crisis management of rural municipalities is to restore their livelihoods and the withdrawal from the crisis of enterprises, institutions, organizations that provide services to the rural population. The nature of changes in the crisis management process was assessed taking into account: the full coverage of the areas of project and event management, the pace of change, the degree of achievement of goals, and the growth of economic indicators. The study developed the basic provisions for improving the information system of crisis management of rural municipalities. The information support system includes: a list of indicators for assessing the course of crisis management, requirements for a data bank. The structure of the information system and the network model of the possibility of creating an agricultural cluster based on rural municipalities are proposed. The proposed information system serves and interconnects, in the mode of interaction, local authorities, scientific and educational unit, functional departmental systems: tax, statistical, environmental protection, rural infrastructure and others. It makes it possible to create a cluster of rural municipalities in a less costly and more coordinated way. The main idea of evaluating and adjusting crisis management is to comprehensively examine the interrelationships of the parameters of the tariff, tax, investment and subsidy policies, taking into account the transformations in the management system of rural municipalities.
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Afanasieva, Olya. "Analysis of main instruments of crisis regulation of banking activity during the global financial crisis of 2008-2009." Corporate Ownership and Control 9, no. 1 (2011): 233–43. http://dx.doi.org/10.22495/cocv9i1c1art7.
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This paper investigates the role and necessity of system of crisis management of banking activity in present-day conditions. Particular attention is paid to the crisis management that is realized on the level of government and central bank. An overview and comparison of major anti-crisis instruments both in Ukraine and foreign countries is given. The research pays special attention to importance of Asset management companies. It is stated that crisis regulation should have preventive character, oriented at working out instruments and realization of such measures that would minimize the negative effect of external and internal surroundings.
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Bernardelli, Michał, Zbigniew Korzeb, and Paweł Niedziółka. "The banking sector as the absorber of the COVID-19 crisis? economic consequences: perception of WSE investors." Oeconomia Copernicana 12, no. 2 (June 30, 2021): 335–74. http://dx.doi.org/10.24136/oc.2021.012.
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Research background: The paper focuses on the research of investors? decisions with regard to shares of all 12 banks listed on the Warsaw Stock Exchange during the first half of 2020. It examines the behavior of a subindex reflecting bank shares? prices against the main WIG index WIG and 14 sector subindices. The authors identify groups of banks with different investors? responses. They also classify banks into separate groups on the basis of changes in the fundamental indicators describing their economic and financial performance. The study concentrates mainly on the verification of the stability of this attribution, explaining reasons for its modifications over time.
Purpose of the article: To identify the characteristics of bank clusters determining different capital market responses to their listed shares and to explain the reasons for volatility in investors? behavior within the analyzed period.
Methods: The methodology of the research can be described in three areas. The first is the statistical analysis with the emphasis on the use of a quarter range to capture changes in the volatility of share prices. The second area is the clustering k-means method based on the interpolated ? from quarterly to daily ? measures of the bank?s financial condition. This mathematical approach is a novelty in finance and economics. The last, third, area is forecasting with the use of linear regression analysis, which is the key factor in determining the abnormal rates of return. The indicated areas are combined through a generally understood correlation analysis.
Findings & value added: Large retail banks have been less affected compared to medium-sized ones with relatively rich corporate portfolios. The initial market reaction reflected concern about the resistance to the crisis of poorly capitalized banks with mean liquidity buffers. Upon the announcement of government support, investors? approach to the shares of banks of differentiated economic and financial performance conformed accordingly. These findings are valuable in the long term especially from the perspective of supervision authorities? policy during external shocks. The presented study suggests designing flexible and tailor-made regulatory approach aligned with the defined bank clusters. Its value added also consists in proposing a new method of analysis, combining interpolation and automatic clustering, which has proved to be adequate for the study of a bank?s financial condition based on daily frequency data. Furthermore, assuming the same length of the estimation window, a close relationship is shown between the results of clustering and the forecasts based on different measures of rates of return.
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Jones, Michael John, Andrea Melis, Silvia Gaia, and Simone Aresu. "Impression Management and Retrospective Sense-Making in Corporate Annual Reports: Banks’ Graphical Reporting During the Global Financial Crisis." International Journal of Business Communication 57, no. 4 (June 9, 2017): 474–96. http://dx.doi.org/10.1177/2329488417712010.
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This study investigates two potentially complementary reporting scenarios in annual reports: reactive impression management and retrospective sense-making. It examines stock market performance graphs in European listed banks’ annual reports before and during the global financial crisis. Our results indicate that banks reacted to the global financial crisis by omitting stock market performance graphs from the annual report and from its most prominent sections. On the other hand, banks reduced favorable distortions and favorable performance comparisons. No significant evidence of retrospective sense-making is found. Overall, the findings are consistent with impression management incorporating human cognitive biases, with companies preferring misrepresentation by omission over misrepresentation by commission. Under high public scrutiny, banks appear to seek to provide a more favorable view by concealing negative information rather than by favorable distortions or comparisons. The study contributes to the development of impression management theories. It uses a psychological interpretation that incorporates human cognitive biases, rather than adopting a purely economically based perspective.
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Quintiliani, Andrea. "FINANCIAL CRISIS AND LOCAL BANKS: A REVIEW OF BANK-FIRM RELATIONSHIPS IN ITALY." Corporate Ownership and Control 14, no. 3 (2017): 249–58. http://dx.doi.org/10.22495/cocv14i3c1art10.
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This paper focuses on bank-firm relationship in an economic deeply changing environment. The objectives of the paper are two-fold: to understand, compared to the overall banking system, if the lending activities and economic-financial performances of Italian local banks have changed after the outbreak of the financial crisis; and to understand what are the conditions that allow to develop a model of a local bank capable of supporting the development routes of SMEs, by an appropriate risk/return profile. In order to answer the first research question, the paper presented an empirical analysis, covering the period 2007-2011, of Italian Cooperative Credit Banks (a particular category of local banks) compared with the system of bank groups with operability spread over much of the Italian territory and not. The empirical comparative analysis has the aim to see the effects of the crisis on the relationship bank-firm through the reading of the impact on the dynamics of lending and on the profiles of structure, riskiness, profitability and efficiency of the banks under examination. In order to provide an answer to the second research question, the paper provides some insight of evolutionary nature reflection in the bank-firm relationship. In accordance with the doctrinal postulates of the relationship lending the empirical analysis shows how the financial then real crisis has not induced Cooperative Credit Banks to restrict credit to local firms. The survey evidences have however highlighted some critical elements that are reflected inevitably on the local bank’s risk-return profile. Based only on quantitative data of statement, the empirical analysis represents a limit in this kind of research. This paper is useful to stimulate the debate of experts as well as to focus on the studies of local banks in particular in the light of their anti-cyclic role. Even if abounding in subjects about local banks and relationship lending literature faces only marginally the effects of global crisis on business profiles of local banks.
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Marcussi Pontes, Rúbia. "A gestão da crise financeira de 2008 pela China: o papel do Estado na implementação de políticas anticíclicas e desafios subsequentes." Brazilian Journal of International Relations 7, no. 1 (May 27, 2018): 202–23. http://dx.doi.org/10.36311/2237-7743.2018.v7n1.01.p202.
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O caráter sistêmico da crise financeira e econômica de 2008 demandou que rápidas políticas fossem implementadas pelos Estados para contrabalancear o alto nível de incerteza, a iliquidez e a queda na demanda agregada. Nesse sentido, a atuação da República Popular da China é considerada um caso extremamente relevante de estudo a partir do conjunto de medidas anticíclicas adotadas principalmente a partir de uma política fiscal ativa. O presente artigo busca, portanto, investigar o papel do Estado chinês na gestão da crise recente a partir da perspectiva Minskyana, reforçando a importância do big government e do big bank para a rápida recuperação econômica chinesa – embora não sem novos desafios.
Palavras-chave: crise financeira e econômica, China, políticas públicas anticíclicas, big government, big bank.
Abstract: The systemic effects of the financial and economic crisis of 2008 required the quick implementation of public polices to counterbalance the high level of uncertainty, illiquidity and the fall in the aggregate demand. The response of the Popular Republic of China is considered unique and worthy of investigation regarding the implementation of anti-cyclical public polices, with highlight to the role of its active fiscal police. Therefore, this articles aims to investigate the role of the Chinese state in the crisis management within Minsky’s perspective, recalling the importance of the big government and of the big bank for the quick economical response of China – although not without upcoming challenges.
Keywords: financial and economic crisis, China, anti-cyclical public policies, big government, big bank.
Recebido em: dezembro/2017.
Aprovado em: abril/2018.
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Andryushin, S., and V. Kuznetsova. "Russian Banking Sector and Ways of Its Reforming." Voprosy Ekonomiki, no. 7 (July 20, 2009): 15–30. http://dx.doi.org/10.32609/0042-8736-2009-7-15-30.
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The article considers the key issues of current development of the Russian banking sector. It summaries the main achievements of the Russian government and Central Bank anti-crisis management and submits possible variants of solving the problem of Russian banks bad debts. The ways of transforming the Russian banking sector and sources of its development at the regional level are also discussed.
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Berezhetska, Tetiana. "Methods and Tools of Anti-Crisis Regulation of the Banking System in Conditions of Economic Instability." Oblik i finansi, no. 1(95) (2022): 42–48. http://dx.doi.org/10.33146/2307-9878-2022-1(95)-42-48.
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The activity of banks significantly depends on the trends taking place in the state and the world economic space. State anti-crisis regulation of the banking system involves developing a set of measures to counteract the negative impact of potential threats on ensuring the stable functioning of banking institutions. Banking regulation is critical in economic instability, which means both the volatility of certain economic indicators and chronic imbalances in the economy. The article aims to systematize the methods and tools of anti-crisis regulation of the banking system in conditions of economic instability. It was proved that the construction of the system of anti-crisis regulation of banking activity should be an essential strategic task of the government and the central bank in modern conditions. To ensure effective regulation of the banking system at each stage of the crisis, it is necessary to apply the methods and tools that are most appropriate. The author has formed his classification of methods of state regulation of the banking system and their detailed characteristics. Methods of anti-crisis regulation of the banking system are divided into legal, administrative, information-analytical, organizational and financial. Emphasis is placed on the need for continuous improvement of methods and tools of anti-crisis management and their adaptation to the actual conditions of the banking system.
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Khalatur, Svitlana, Lesia Kriuchko, and Anna Sirko. "WORLD EXPERIENCE ADAPTATION OF ANTI-CRISIS MANAGEMENT OF ENTERPRISES IN THE CONDITIONS OF NATIONAL ECONOMY’S TRANSFORMATION." Baltic Journal of Economic Studies 6, no. 3 (August 5, 2020): 171–82. http://dx.doi.org/10.30525/2256-0742/2020-6-3-171-182.
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The purpose of the article is to systematize and generalize the experience of leading countries to form and implement an effective crisis management system; to clarify the role of the state in the formation and implementation of anti-crisis regulation strategy of the real sector of the economy, as well as to substantiate the main methodological provisions of its formation. The subject-matter of the study is the methodological and conceptual foundations of the process of the effective crisis management system of the USA, China, Japan, the EU and Ukraine. Methodology. The research is based on the set of well-known general scientific and special methods of research in economics. In particular, the dialectical method, the method of scientific abstraction, the method of systematic analysis, economic and mathematical modeling has been used in the article. Conclusion. The world experience of solving the problems of enterprise bankruptcy is generalized. The experience of the USA, Japan, China, the countries of the European Union is considered. The econometric model taking into account the heteroskedasticity of the residues shows that an increase of 1% Central government debt, bank capital to assets ratio, expense, exports of goods and services, foreign direct investment, net inflows will increase GDP by 2.41%, 1.53%, 1.23%, 2.03%, and 1.19% respectively in the studied countries. Examining the experience in the field of crisis management, it should be noted that in Europe there is a selective approach aimed at stimulating the activities of specific companies; public sector priorities are education, health care, pensions, and the labor market. In addition, in some countries in order to find innovative structures of enterprises, increase their competitiveness and efficiency, out of the crisis, the development of privatization programs is used, which in each country have their own characteristics. World experience shows that the models of anti-crisis management constructed in different countries of the world provide various potential opportunities for progressive socio-economic changes. However, none of them can be used in its pure form in the formation of anti-crisis management policy in Ukraine. This is due to the conditions of accumulation of this experience by countries, the formation of mechanisms and institutions in a balanced economy, differences in the construction of financial and credit mechanisms, and so on. The use of positive experience should be the first step towards reforming the crisis management system.
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Bieling, Hans-Jürgen. "EU facing the crisis: social and employment policies in times of tight budgets." Transfer: European Review of Labour and Research 18, no. 3 (July 19, 2012): 255–71. http://dx.doi.org/10.1177/1024258912448591.
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Over the past years the centre of the economic crisis has repeatedly shifted. Starting as a subprime crisis in the US, it soon unfolded as a global economic and financial crisis in order then to become a sovereign debt crisis, euro crisis and, eventually, also a social and democratic crisis. Against the background of the general political and economic conditions within the EU, this article traces the shifts of the political terrain. It focuses above all on the transition from a rather costly crisis management (bank rescues, economic stimulus programmes and automatic stabilizers) towards a new agenda of austerity policies. Structurally, this agenda can be seen as the reaction to significant increases in public debt. In addition, it has been promoted politically and institutionalized through successive European economic governance reforms. These reforms have also had a serious impact on domestic social and employment policies. In some countries dependent on external credits this is already evident, while in other countries the deregulatory aspects of the radicalized reform agenda have only just started to unfold.
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Sahiti, Arbana, Sevdie Alshiqi, Inna Neskorodieva, Arben Sahiti, and Xhelil Bekteshi. "Managing Credit Risk Strategies for Commercial Banks: The Case of Kosovo." Journal of Eastern European and Central Asian Research (JEECAR) 9, no. 2 (March 28, 2022): 309–18. http://dx.doi.org/10.15549/jeecar.v9i2.847.
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The study aims to substantiate effective strategies to manage credit risks in commercial banks, for example, Kosovo. Based on the annual financial statements of commercial banks in Kosovo for 2010-2020. We built polynomial regression models to assess the impact of credit risk on the bank's financial stability. Empirically, determined and argued the different nature of the credit risks influencing the bank's financial stability according to various on the assets size of commercial banks. Preventive and reactive scenarios for minimizing the negative impact of credit risk on the financial stability of commercial banks in Kosovo have been determined using the constructed regression models. The results obtained are of practical importance and can help develop effective strategies for managing the financial risks in commercial banks in times of crisis and building up financial stability in stable conditions.
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Danylyshyn, Bohdan, and Ivan Bohdan. "Developing a system of anti-crisis measures for Ukraine’s economy in the spread of the coronavirus pandemic." Banks and Bank Systems 15, no. 2 (April 10, 2020): 1–15. http://dx.doi.org/10.21511/bbs.15(2).2020.01.
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The new global financial and economic crisis is caused by the spread of the coronavirus epidemic, the reduction in aggregate supply, the escalation of trade wars, and the outflow of capital from emerging markets. This requires national macroeconomic regulatory authorities to take prudent measures to protect national economies from destabilizing externalities. Therefore, the purpose of the article is to justify and develop a priority system of stabilization policy and anti-crisis measures to counter the spread of external shocks in the national economy, stabilize it, and create conditions for its further recovery and sustainable economic growth. To achieve this aim, the existing theoretical sources and research materials of international organizations were systematized, the legislative and regulatory framework in Ukraine was generalized, and statistical methods, a historical method, analysis and generalization were also used. As a result, the channels of impact of external shocks on Ukraine’s economy were identified, and the areas of internal vulnerability of the national economy that could significantly increase the negative effects of externalities were determined. The knowledge gained has become the basis for formulating conceptual directions of crisis management and developing a system of measures to counteract crisis phenomena, which include the monetary policy tools of the National Bank of Ukraine, the structural and fiscal policy of the Government, as well as the banking regulation and capital control policies.
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Dibra, Rezart, and Jetmir Bodini. "Corporate governance in Balkan financial institution, case of Albania." Risk Governance and Control: Financial Markets and Institutions 3, no. 2 (2013): 30–38. http://dx.doi.org/10.22495/rgcv3i2art2.
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Corporate governance has at its backbone a set of transparent relationships between an institution’s management, its board, shareholders and other stakeholders. In this article, in the first part, the nature and purpose of corporate governance has been discussed with special emphasis on the problems of banks in the field of corporate governance. Corporate governance involves regulatory and market mechanisms, and the roles and relationships between a company’s management, its board, its shareholders and other stakeholders, and the goals for which the corporation is governed. Lately, corporate governance has been comprehensively defined as "a system of law and sound approaches by which corporations are directed and controlled focusing on the internal and external corporate structures with the intention of monitoring the actions of management and directors and thereby mitigating agency risks which may stem from the misdeeds of corporate officers. The financial crisis exposed flaws throughout financial markets and prompted much investigation into the way banks work. The ‘2008 crisis in the financial industry, among other causes, brought to light the conflict of interest between achieving aggressive results by the executives in order to obtain bonuses and the long-term risk associated with the commercial company in its business. This paper focuses on one line of investigation - the corporate governance of banks. It examines why governance of banks differs from governance of nonfinancial firms and where the governance of banks failed during the crisis; it also offers recommendations for improving the governance system. Bank governance has been the topic of much recent academic work and policy discussion (Senior Supervisors Group 2008, 2009; Walker Report 2009; Committee of European Banking Supervisors 2010). Because of their contemporaneous nature, there has been little connection between the academic approach and policy analysis. The purpose of this paper is to make such connections and ground the policy debate on scientific evidence. The Corporate Governance in banks is one of the most important discussions overall the world, being reinforced especially after the crises period. It is related with the sensitive situation and the stage of developments of the local economy and moreover with the impact of the crises that is still ongoing. As an answer, during late 2008 and beginning 2009, it has been noticed a fast reaction and total focus from all banks on building (if missing) and improving their structures of Corporate Governance. The liquidity problems suddenly affecting the banking sector constrained Banks to enlarge their activities / operations and forced them in better evaluating their investments. The importance of a strong financial sector in impacting the country’s economy growth through both level of banking development and stock market liquidity (Levine and Sara Zervos 1996, 1998) is quite evident even in the developing countries. Moreover, Peter Rousseau and Watchel (2000) findings’ confirm the positive impact of the stock market activity and the banking development. For this reason the governments in the developing countries are insisting in increasing credits of banks towards the private firms. The banking system in Bulgaria, Romania, Serbia and Albania has certain similarities in terms of development stage, related with the economic growth rate as well. The banking system, there is operating for more than 100 years instead of 15-20 years of development in the remaining countries.
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Danylyshyn, Bohdan. "The peculiarities of economic crisis due to COVID-19 pandemic in a developing country: case of Ukraine." Problems and Perspectives in Management 18, no. 2 (April 10, 2020): 13–22. http://dx.doi.org/10.21511/ppm.18(2).2020.02.
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At the beginning of 2020, the world faced the most frightening threat to the population’s health – COVID-19 pandemic. For this reason, the international institutions, governments of countries and various organizations are forced to use unprecedented restrictive measures in many spheres of activity. As a result, the economies of the countries all over the world are significantly affected and are on the verge of crisis. This paper presents examples of economic consequences of COVID-19 pandemic for different countries of the world and analyzes still few scientific works, which study the influence of pandemic on their economies. The article generalizes the legislative and anti-crisis measures of the Ukrainian Government, as well as the National Bank of Ukraine and other state authorities. It is evidenced that at the end of 2019 and the beginning of 2020, Ukraine witnessed a significant decrease in GDP growth rate, reduction of industrial production and electricity production. The financial indicators also underwent significant losses, particularly the unemployment rate increased as thousands and thousands of labor migrants have returned to Ukraine from European and other countries. The article proves the inconsistency and unprofessionalism of such restrictive and regulatory measures. Finally, the necessity is substantiated to combine the methods of market economy and state regulation. The compulsory steps are offered, which would minimize the losses of the state and its population during this economic crisis.
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Lazarev, Dmitry Veniaminovich. "Analysis of the Main Trends in the Modern Practice of Applying Business Bankruptcy Procedures in the Russian Federation and Problems of Its Development." Теория и практика общественного развития, no. 10 (October 2020): 34–39. http://dx.doi.org/10.24158/tipor.2020.10.5.
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Global economic instability increases the relevance of studying the dynamics of initiation and applica-tion of bankruptcy procedures in Russia and abroad. The author of the paper summarizes statistical data over the last few years that allowed us to identify the main problems of the development of bankruptcy cases in Russia. The analysis showed that, against the background of extremely low efficiency of bank-ruptcy procedures for Russian enterprises, the indi-cators of our country in terms of the number of bankrupt companies generally correspond to global indicators. It is concluded that the timely identifica-tion of the crisis state should play a key role in anti-crisis business management. In this regard, it be-comes important to find ways and methods of fore-casting and assessing the probability of bankruptcy both at the national and intra-corporate levels.
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Van Hecke, Steven, Harald Fuhr, and Wouter Wolfs. "The politics of crisis management by regional and international organizations in fighting against a global pandemic: the member states at a crossroads." International Review of Administrative Sciences 87, no. 3 (January 20, 2021): 672–90. http://dx.doi.org/10.1177/0020852320984516.
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Despite new challenges like climate change and digitalization, global and regional organizations recently went through turbulent times due to a lack of support from several of their member states. Next to this crisis of multilateralism, the COVID-19 pandemic now seems to question the added value of international organizations for addressing global governance issues more specifically. This article analyses this double challenge that several organizations are facing and compares their ways of managing the crisis by looking at their institutional and political context, their governance structure, and their behaviour during the pandemic until June 2020. More specifically, it will explain the different and fragmented responses of the World Health Organization, the European Union and the International Monetary Fund/World Bank. With the aim of understanding the old and new problems that these international organizations are trying to solve, this article argues that the level of autonomy vis-a-vis the member states is crucial for understanding the politics of crisis management. Points for practitioners As intergovernmental bodies, international organizations require authorization by their member states. Since they also need funding for their operations, different degrees of autonomy also matter for reacting to emerging challenges, such as the COVID-19 pandemic. The potential for international organizations is limited, though through proactive and bold initiatives, they can seize the opportunity of the crisis and partly overcome institutional and political constraints.
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Ainurrachma, Mirna, and Imron Mawardi. "REAKSI PASAR SAHAM TERHADAP MERGER BANK SYARIAH MILIK NEGARA." Jurnal Ekonomi Syariah Teori dan Terapan 9, no. 1 (January 30, 2022): 92. http://dx.doi.org/10.20473/vol9iss20221pp92-105.
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ABSTRAKPenelitian ini bertujuan mengetahui bagaimana reaksi pasar terhadap pengumuman merger bank syariah BUMN, yaitu BRI Syariah, Bank Syariah Mandiri, dan Bank BNI Syariah menjadi bank Syariah Indonesia, sehingga diketahui efisiensi pasarnya. Penelitian ini menggunakan pendekatan kuantitatif degan metode event study untuk meganalisis reaksi pasar terhadap suatu peristiwa. Ada atau tidak adanya reaksi pasar akan diukur melalui variabel abnormal return (AR) dan trading volume activity (TVA). Subyek penelitian ini adalah BRI Syariah (BRIS) yang merupakan existing company merger dan satu-satunya yang sudah listing di Bursa Efek Indonesia (BEI). Teknik analisis yang digunakan adalah Uji Paired Sample t-Test pada AR dan TVA. Hasil penelitian ini menunjukkan tidak terdapat perbedaan abnormal return yang signifikan sebelum dan sesudah pengumuman merger, namun signifikan pada TVA. Bagi investor, pengumuman merger direaksi oleh pasar secara positif, namun tidak berlebihan sehingga tidak memberikan abnormal return yang signifikan. Adanya keputusan merger membuat pasar saham lebih aktif yang ditandai dengan meningkatnya TVA. Lebih lanjut, adanya informasi merger perusahaan tidak selalu disertai dengan abnormal return. Maka dari itu, investor disarankan untuk tidak melakukan spekulasi berlebihan menghadapi informasi merger tersebut.Kata Kunci: Bank Syariah, Merger, Abnormal Return, Volume Perdagangan. ABSTRACTThis study aims to determine how the market reaction to the announcement of the merger of state-owned Islamic banks, namely BRI Syariah, Bank Syariah Mandiri, and Bank BNI Syariah to become Indonesian Islamic banks, so that market efficiency is known. This research uses a quantitative approach with the event study method to analyze the market reaction to an event. The presence or absence of market reaction will be measured through abnormal return (AR) and trading volume activity (TVA) variables. The subject of this research is BRI Syariah (BRIS) which is the existing company merger and the only one that has been listed on the Indonesia Stock Exchange (IDX). The analytical technique used is the Paired Sample t-Test on AR and TVA. The results of this study indicate that there is no significant difference in abnormal returns before and after the announcement of the merger, but it is significant for TVA. For investors, the market reacted positively to the announcement of the merger, but not excessively so that it did not provide a significant abnormal returns. The merger decision made the stock market more active, which was marked by an increase in TVA. Furthermore, information about company mergers is not always accompanied by abnormal returns. Therefore, investors are advised not to make excessive speculation regarding the merger information.Keywords: Bank Shariah, Merger, Abnormal Return, Trading Volume Activity. DAFTAR PUSTAKAAl Islami, M. A. F., & Mawardi, I. (2019). Analisis reaksi pasar terhadap pengumuman right issue (Studi kasus pada saham yang terdaftar di ISSI). Jurnal Ekonomi Syariah Teori Dan Terapan, 6(6), 1101–1113. https://doi.org/10.20473/vol6iss20196pp1101-1113Chhetri, S. D., & Baral, R. P. (2018). Event study of effect of merger announcement on stock price in Nepal. Journal of Business and Management, 5(1), 64–73. https://doi.org/10.3126/jbm.v5i0.27390Crouzille, C., Lepetit, L., & Bautista, C. (2008). How did the Asian stock markets rexct to bank mergers after the 1997 financial crisis? Pacific Economic Review, 13(2), 171–182. https://doi.org/10.1111/j.1468-0106.2008.00395.xDodd, P. (1980). Merger proposals, management discretion and stockholder wealth. Journal of Financial Economics, 8(2), 105–137. https://doi.org/10.1016/0304-405X(80)90014-8Jackson, L. A. (2015). Market reaction to bidder announcements of horizontal mergers in an oligopolistic industry: Evidence from the US airline industry. Tourism Economics, 21(6), 1255–1271. https://doi.org/10.5367/te.2014.0401Jayaraman, N., Frye, M. B., & Sabherwal, S. (2001). Informed trading around merger announcements: An empirical test using transaction volume and open interest in options market. Financial Review, 36(2), 45–74. https://doi.org/10.1111/j.1540Mackinlay, A. C. (1997). Event Studies in Economics and Finance. Journal of Economic Literature, 35(1), 13–39.Mcwilliams, A., & Siegel, D. (1997). Event studies in management research: Theoretical and empirical issues. Academy of Management Journal, 40(3), 626–657. https://doi.org/10.2307/2570566288.2001.tb00010.xMoin, A. (2004). Merger, akuisisi & divestasi. Yogyakarta: Ekonisia.OJK. (2020). Data dan statistik perbankan syariah. Retrieved from https://www.ojk.go.id/id/kanal/syariah/data-dan-statistik/statistik-perbankan-syariah/Default.aspxReddy, K., Qamar, M., & Yahanpath, N. (2019). Do mergers and acquisitions create value?: The post-M&A performance of acquiring firms in China and India. Studies in Economics and Finance, 36(2), 240–264. https://doi.org/10.1108/SEF-01-2018-0027Tandelilin, E. (2010). Portofolio dan investasi. Yogyakarta: Kanisius.
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Gorchakova, Maria E. "Денежно-кредитная политика банка Японии в условиях глобального кризиса." Азиатско-Тихоокеанский регион: экономика, политика, право 55, no. 2 (2020): 30–38. http://dx.doi.org/10.24866/1813-3274/2020-2/30-38.
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Мировая банковская система непрерывно развивается и совершенствуется. Банковские системы отдельных стран модифицируются под влиянием интеграции финансовых отношений государств мира и глобализации в сфере банковского дела. Экономика Японии получила широкое развитие в период так называемого «экономического чуда», во время которого Япония стала второй страной в мире по общему объёму производства, занимая третье место по экспорту продукции. Быстрыми темпами развивается непроизводственный сектор Японии: сфера услуг, финансы, научно-исследовательская деятельность. Статья посвящена изучению деятельности центрального банка Японии – одного из ведущих мировых финансовых институтов. Выделены организационные принципы функционирования Банка Японии. Рассмотрены три руководящих принципа управления, используемых Банком Японии в процессе его деятельности для выполнения роли центрального банка и достижения таких целей, как поддержание ценовой стабильности и содействие экономическому росту в стране. Банк Японии, будучи первым звеном банковской системы страны, реализует денежно-кредитную политику, применяя комплекс мер, направленных на управление совокупным спросом через условия денежного рынка. В статье отражены инструменты денежно-кредитной политики, применяемые Банком Японии для обеспечения стабильности экономического развития страны. Особое внимание уделяется мерам, предпринятым Банком Японии в связи с кризисом, вызванным пандемией коронавируса COVID-19. Речь идёт о поддержке компаний, пострадавших от последствий коронавируса COVID-19, включая предоставление беспроцентных займов, выдачу гарантий по кредитам малому и среднему бизнесу, пострадавшему от пандемии, субсидии по переводу бизнеса в онлайн. Банк Японии планирует использовать пакет фискальных и монетарных антикризисных мер для поддержки экономики страны. Реализация мероприятий необходима для ограничения экономического ущерба от кризисных явлений, вызванных коронавирусом COVID-19, и сглаживания волатильности рынков. Актуальность исследования обусловлена тем, что в условиях финансовой глобализации необходимо учитывать опыт зарубежных банковских систем, особенно в ситуации мирового кризиса, затронувшего экономики всех стран. Ключевые слова: мировая банковская система, глобализация, банковское дело, Япония, центральный банк, денежно-кредитная политика, операции на открытом рынке, экономическая активность, ликвидность, COVID-19, финансовый кризис, антикризисные меры. The world banking system is constantly developing and improving. The banking systems of individual countries are modified under the influence of the integration of financial relations between the countries of the world and globalization in bank-ing. The Japanese economy was widely developed during the period of the so-called «economic miracle», during which Japan became the second country in the world in total production volume, ranking third in the export of products. The non-manufacturing sector of Japan is developing rapidly: the service sector, finance, and research. The article is devoted to the study of the activities of the Central Bank of Japan – one of the leading global financial institutions. The organizational principles of the Bank of Japan are highlighted. Three management principles used by the Bank of Japan in the course of its activities to fulfill the role of the central bank and achieve goals such as maintaining price stability and promoting economic growth in the country are considered. The Bank of Japan, being the first link in the country's banking system, implements monetary policy by applying a set of measures aimed at managing aggregate demand through money market conditions. The article reflects the monetary policy instruments used by the Bank of Japan to ensure the stability of the country's economic development. Particular attention is paid to the measures taken by the Bank of Japan in connection with the crisis caused by the pandemic of the coronavirus COVID-19. It is about supporting companies affected by the consequences of the coronavirus COVID-19, including providing interest-free loans, issuing guarantees for loans to small and medium-sized businesses affected by the pandemic, subsidies for transferring business online. The Bank of Japan plans to use a package of fiscal and monetary anti-crisis measures to support the country's economy. Implementation of measures is necessary to limit the economic damage from the crisis caused by the coronavirus COVID-19, and to smooth out the market volatility. The relevance of this study is due to the fact that in the context of financial globalization, it is necessary to take into account the experience of foreign banking systems, especially in the situation of the global crisis that affected the economies of all countries. Keywords: world banking system, globalization, banking, Japan, central bank, monetary policy, open market operations, economic activity, liquidity, COVID-19, financial crisis, anti-crisis measures.
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Nájera-Sánchez, Juan J. "A Systematic Review of Sustainable Banking through a Co-Word Analysis." Sustainability 12, no. 1 (December 30, 2019): 278. http://dx.doi.org/10.3390/su12010278.
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The 2008 financial crisis placed banks in the gaze of public opinion. Financial entities did not delay in reacting, intensifying their efforts in what had become known as sustainable banking, with the goal of counteracting the negative effects of their loss of reputation. Neither has the academic community delayed their reaction, with the rapid growth of scientific production around this topic. However, no review of this literature through qualitative methods or bibliometry exists. The work presented in this paper fills one of those gaps, setting up a statistical description of the principal features of sustainable banking research and carrying out an analysis about its knowledge structure via co-word analysis. The results show a rapid evolution of the topics addressed, highlighting studies about the consequences of banks’ sustainability programs on their competitiveness. Future trends point to the search for more complex models, the incorporation of new stakeholders in the analysis and the consideration of different contexts.
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Brener, Alan. "No-Man is an Island: UK and EU Banking Engagement after Brexit." European Business Law Review 27, Issue 7 (December 1, 2016): 1029–56. http://dx.doi.org/10.54648/eulr2016046.
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Banking and its issues do not respect jurisdictional boundaries. Whatever form “brexit” eventually takes the most significant aspects of banking regulation are, and will remain, international. This paper considers the UK’s continuing need for crossborder engagement with the EU in the key operational areas of standard setting, supervision, crisis management, anti-money laundering and payments systems. In addition, it looks at how close coordination with the EU can help address the risk of “regulatory capture” and, separately, in improving culture, ethics and governance in banking. Consequently, it is important that the UK and the other European states, together with other jurisdictions, continue to work to maintain and develop cross-border cooperation. Moreover, the UK, and the other states, will continue to need to conform to the highest global standards. This will extend to cross-border supervision and coordination set against a background of common standard setting. At some point it is inevitable that there will be another serious banking crisis. The effects are likely to extend across borders. Consequently, even outside the EU, the eurozone and the scope of the European Central Bank, the UK will need to prepare and to engage closely with the EU’s developing financial crisis management arrangements. This will include cross-border recovery and resolution planning.
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Hossain, Ashrafee Tanvir, and Lawrence Kryzanowski. "Global financial crisis after ten years: a review of the causes and regulatory reactions." Managerial Finance 45, no. 7 (July 8, 2019): 904–24. http://dx.doi.org/10.1108/mf-09-2018-0453.
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Purpose The purpose of this paper is to review the relevant literature on the causes of and regulatory reactions to the financial crisis of the last decade, popularly known as the “Global Financial Crisis (GFC)” or the “Housing Crisis” in the USA. Design/methodology/approach This review primarily focuses on the four main causes of the crisis, namely, excessive household leverage, securitization, corporate governance and credit ratings. The main reaction vis-à-vis recovery measures taken by most governments were quantitative easing (QE), bailouts and more stringent regulations of banks, though the discussion mainly focuses on QE. Findings In this paper, the authors summarize the literature on the causes and regulatory reactions to the GFC and propose future avenues of research for various topics. Originality/value Research on the GFC spans multiple disciplines as well as multiple facets of financial economics. A review paper such as this should help future researchers in generating ideas and gathering information for their research. Given that no review uncovers all worthy papers, the authors apologize in advance to the authors of any papers that the authors have inadvertently not reviewed in this paper.
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Yurtsever, N., K. Wilson-Sandberg, J. Dikeman, J. Louie, and K. Fomani. "Anti-IH Related Hemolytic Reaction in a Sickle Cell Patient and Further Management While Avoiding Transfusion." American Journal of Clinical Pathology 154, Supplement_1 (October 2020): S165—S166. http://dx.doi.org/10.1093/ajcp/aqaa161.360.
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Abstract Introduction/Objective H antigen is a precursor for A and B antigens and is mostly converted except for the O blood group, which has the highest amount of H antigen. I is present on all adult RBCs. Anti-IH is usually an IgM antibody active at cold temperatures, and rarely demonstrates a wide thermal amplitude and can cause a significant hemolytic transfusion reaction. Methods Data was collected from patient information and transfusion management systems. Results 38 year old female with sickle cell disease presented to the emergency room with dizziness, tachypnea and Hgb: 5.9 g/dl Hct:19.1%. Upon further review, patient chart showed that she had received an emergency RBC exchange transfusion 21 days prior to this admission for acute chest syndrome. She was B positive. The units for RBC exchange consisted of 5 group B and 1 group O units and an additional 1 group O unit later. All RBC units were matched for her phenotype; Rh, K, Duffy & Kidd, except anti-S which was ruled out. At the time of discharge, Hgb was 9.3 g/dl and Hct was 27.7%. The drop in Hgb between discharge and the present admission prompted a suspicion for delayed hemolytic reaction/hyperhemolysis. The sample sent to the local Reference Laboratory came back as follows: DAT/Coombs Positive, DAT C3 positive; positive for cold auto-anti-IH antibody. A thermal amplitude test indicated that the anti-IH was reactive at 30 C and therefore had the potential to be of clinical significance. Her Hgb continued to drop and 3 days later Hb=3.7 g/dl with instructions not to transfuse unless clinically emergent. With treatment of IVIG and steroids, reducing further blood draws and monitoring the patient for clinical symptoms only, her Hgb/Hct started to rise and the patient was discharged 4 days later with Hgb: 6.4 g/dl, and no symptoms of anemia. Conclusion Our case study is important in two ways: Firstly, it raises awareness of the severity of a cold autoantibody, i.e. anti-IH, with a wide thermal amplitude. Specifically, in this case, our attempt to provide phenotypically similar RBCs resulted in the destruction of all the type O donor cells as well as some of the B donor cells. Secondly, even with Hgb counts as low as 3.7, treating the patient and not the number proved to be better clinical practice. In conclusion, a good monitoring protocol for sickle cell patients is required to transfuse less and avoid serious complications.
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Gatti, Uberto. "Les progrès et leurs effets pervers dans l’application de la justice des mineurs : une perspective comparative." Criminologie 26, no. 2 (August 16, 2005): 103–20. http://dx.doi.org/10.7202/017341ar.
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One of the most important developments in juvenile justice systems in the western countries over this century has been the 1970s crisis of the well established welfare model, a crisis based on the lack of rights in juvenile procedures, the ineffectiveness of treatment interventions and the failure to decrease delinquency in society. The reaction to this situation assumed different forms in different contexts, and showed numerous contradictions. In some countries the justice model, an adultisation of juvenile justice, became dominant; in other countries the «back to justice » movement was not accepted, and other models developed. In the actual organisation of juvenile justice some trends emerged : deinstitutionalisation, diversion and community alternatives to custody, the utilisation of private resources and volunteers inside a public network and bifurcation between serious and normal offenders. The crisis of the welfare model and critical aspects of the justice model for juveniles has stimulated experts and policy makers to search for new paradigms, such as, for exemple, delinquency management, reparation and mediation, which probably represent important elements of the future of juvenile justice systems.
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Prokopowicz, Dariusz. "IMPROVING MANAGING THE CREDIT RISK IN CONDITIONS SLOWING ECONOMIC GROWTH." International Journal of New Economics and Social Sciences 1, no. 1 (June 30, 2015): 17–29. http://dx.doi.org/10.5604/01.3001.0010.3753.
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The recent financial crisis in 2008 has made a significant contribution to the growing importance of the analysis of processes of credit risk management and forced to take measures to improve the process. Sources of the financial crisis is now largely associated with the activities of mainly US investment banks that sold derivatives on the basis of income from high-risk mortgages. Increased risk recorded in the banking business, as a rule, also a derivative of the economic downturn in the sectors of bank customers, including non-financial business entities. In such a situation, banks are limited to provide customers with a more risky loan pro-active financial products. Given the global nature of financial markets and the importance of investment banking in the financial systems and the necessary actions to improve the tools for identifying, quantifying and managing banking risks, especially credit and lending institutions to protect themselves from potential sources of risk. The present analysis showed that the anti-crisis measures are mainly focused on the introduction of additional restrictions in the provision of financial products that may not be enough and may even be harmful, helping to reduce the economic growth of individual countries. Measures are also needed to strengthen supervisory agencies in the financial systems, including transnational supervision.
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Sitnikova, Elvira, Tatyana Kolmykova, Irina Tretyakova, and Darya Lobacheva. "Assessment of Competitiveness Factors of an Agent of the Financial Environment: Methodology and Comparative Analysis." SHS Web of Conferences 110 (2021): 01006. http://dx.doi.org/10.1051/shsconf/202111001006.
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The functioning of the banking sector of the economy in the world is characterized by a decrease in its capital intensity due to a decrease in the concentration of foreign capital, a deterioration in the quality of the loan portfolio, an outflow of urgent deposit resources and the receipt of significant losses by banking institutions during the COVID-19 pandemic. Taking into account the current trends in the spread of the virus, the development and implementation of fundamentally new approaches to anti-crisis management in the banking sector of both the world economy and Russia is of great importance today. The COVID-19 pandemic came as a big shock to the global and European economies. While banks are not hit by the pandemic as directly as other retail institutions, they are in the public eye as they provide funding to corporations and individuals. Their stability is crucial for maintaining the efficiency of the entire economic system, not only of a particular country, but also of the world. Currently, the need for a comprehensive study of the competitiveness of a commercial bank is determined by the objective modern conditions of the life of banks operating in a competitive environment. The article proposes the author’s methodology for assessing the competitiveness of a commercial bank, which includes five groups of indicators, which makes it possible to identify not only problematic, but also stable areas of activity. The proposed method for calculating the integral indicator for assessing the competitiveness of a commercial bank has been tested on the example of Russian Agricultural Bank and Sberbank, and a set of measures has been developed to increase the level of competitiveness of a commercial bank.
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Al-Hunnayan, Sayed Hashem. "The capital structure decisions of Islamic banks in the GCC." Journal of Islamic Accounting and Business Research 11, no. 3 (March 11, 2020): 745–64. http://dx.doi.org/10.1108/jiabr-02-2017-0026.
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Purpose This study aims to find the determinants of the capital structure of Islamic banks in the Gulf Cooperation Council countries (GCC). The uniqueness of the case of Islamic banks stems from the fact that they are not only subject to the supervision of financial regulatory bodies that organize the banking sector (e.g. central banks) but also subject to the guidelines of Shari’ah law governing their financial transactions, products and contracts. Such characteristics are expected to have an impact on the capital structure decisions of Islamic banks compared to their conventional counterparts. Design/methodology/approach To achieve the research purpose, an empirical model was constructed to describe the relationship between leverage and the independent variables. The empirical model was tested through multivariate regression analysis using a panel data approach of 12 Islamic banks in the GCC for the period 2005-2014. Three types of regression analysis were used as follows: ordinary least squares (OLS), fixed-effect and random-effect regressions on panel data. Findings The research findings show that the leverage of Islamic banks in the GCC is positively related to size of the firm (SIZE) and growth opportunity (GROWTH); and it is negatively related to profitability of the firm (ROA), tangibility of the firm’s assets (TANG) and financial market development (MRKT). The results indicate that larger Islamic banks tend to be relatively more diversified with higher credit ratings, which lower their cost of funding and relatively increase its profitability and the bank’s customer/depositor base. The results also show that higher profitability ratios indicate relatively more internal funds to cover future investments, which leads to less reliance on external funds in the form of debt and/or equity. However, the higher the growth opportunities of Islamic banks, the faster the depletion rate of internal funding, and the more external debt financing is acquired to cover the expansion plans. In addition, the results show that in developed financial markets, savers tend to purchase less traditional depository products, and they prefer to invest directly in the financial markets to avoid higher commissions. The results are in line with the pecking order theory, which states that Islamic banks in the GCC tend to prefer sources of funds that have the least transaction cost and reveal minimal information to competitors. Hence, bank management resort to internally generated funds by its operations rather than acquiring external funds. Furthermore, the results are weakly explained by the agency theory, which states that as the firm assets become more tangible, the required monitoring cost is reduced; and hence, shareholders will have less tendency to raise more debt for the purpose of sharing the monitoring cost with debt holders. Research limitations/implications This research study contributes to the theory of capital structure in re-validating the findings of a previous theoretical and empirical study on capital structure in the GCC and abroad. It helps understand the capital structure of Islamic banks in comparison with financial and non-financial firms. Future research is recommended in several areas. In terms of the methodology, it is recommended to conduct the research topic surveying management and financial executives of Islamic banks in the GCC; this will validate the results using a triangular approach supported by the findings of this paper. It is also recommended to apply the research methodology in other parts of the world where Islamic banking exists. Finally, as studies on the capital structure of financial institutions and other regulated sectors are rare, it is recommended to intensify research effort in these sectors to strengthen our knowledge of capital structure. Practical implications From a practical perspective, this research bridges the gap between theory and practice in many aspects. The findings can serve Islamic bank executives as guidelines to understand the market and competitive reaction in response to capital structure decisions. On the other hand, research analysts and equity holders can use the findings in their debt and equity research valuations, assessment of the size of dividends and profit distributions, and to make more informed decisions to buy/sell financial securities. Furthermore, the findings help regulatory bodies to issue informed regulations in relation to capital adequacy ratios, reserve requirements, provisions and payout decisions to achieve policy intended purpose. In addition, organizations that are responsible for setting accounting and audit standards for Islamic banks will learn more about the industry practice; and hence, be able to pass practical standards. Moreover, the findings realize the recommendations of international financial regulatory bodies, such as the International Monetary Fund (IMF), the World Bank (WB) and other concerned organizations that emphasize the importance of further understanding of financial institution practices, to enable more effective formulation of risk management techniques, which may prevent future financial crisis. Originality/value This paper was amongst the few research studies conducted on determinants of capital structure in the GCC and specifically on the Islamic banking sector.
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Prewitt, James E., Richard Weil, and Anthony Q. McClure. "CRISIS LEADERSHIP - AN ORGANIZATIONAL OPPORTUNITY." Australian Journal of Business and Management Research 01, no. 06 (January 8, 2012): 60–74. http://dx.doi.org/10.52283/nswrca.ajbmr.20110106a07.
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Reactive leadership and crisis management have been synonymous for years. This flows from the belief that crisis is unpredictable and unexpected, which is simply not true. Crisis has its genesis in the values, beliefs, culture, or behavior of an organization which become incongruent with the milieu in which the organization operates. A leader, who is able to read the signals of looming crisis and understands how to harness the exigency brought on by the situation, can diminish the potential dangers and take full advantage of the resulting opportunities. This paper presents a generic crisis lifecycle as a representation of overall crisis. Since a crisis can be broken down into three unique phases, crisis lifecycles can be understood and utilized for the benefit of the organization. In the first phase of the lifecycle, the organization finds itself mired in a static phase which equates to a comfort zone. In this first phase leaders struggle when they attempt to introduce change or learning due to the organizations preference to avoid conflict and maintain stasis. When a crisis engulfs an organization then the stasis that envelops the organization evaporates and gives rise to the second phase or the disaster phase. The disaster phase often threatens the very existence of the organization. When the organization successfully eliminates the immediate organizational threat, the organization is able to enter the adjustive phase of the crisis lifecycle. In this third phase, the leader has the undivided attention of the organization and the underlying urgency to solve the issues that led to the crisis in the first place. Regrettably, many leaders don’t take advantage of this golden opportunity and push the organization back toward the status-quo which ensures that the crisis will return in force. The study of crisis leadership has become more important since the dawn of the new millennium because leaders in all areas face differing degrees of crisis in their daily work life. This emphasis on crisis leadership has spawned many books and academic journal articles which has resulted in a wide-ranging body of work from which we have divined the three stages of crisis and six strategies crucial for organizational success. These strategies are illustrated with examples of crisis leadership and how leaders saved their organization and tailored them for long-term significance.
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Kuznetsov, A. V. "Imperatives for Transformation of the International Monetary System in the Conditions of Multipolarity." Finance: Theory and Practice 26, no. 2 (April 29, 2022): 190–203. http://dx.doi.org/10.26794/2587-5671-2022-26-2-190-203.
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The neoliberal model of globalization promoted the outstripping growth of financial assets over the development of the real sector. The functioning of the international monetary system (IMS), based on one key national currency — the US dollar, has led to the financialization of the world economy and the formation of global imbalances. The purpose of the article is to substantiate the need to replace US-centric financial institutions with new institutions at the regional level and to transform the IMS in the direction of monetary polycentrism and regionalization. The paper discusses the mutual responsibility of the core and periphery countries for the formation of global imbalances. The financial and economic indicators of sovereign states, transnational companies and transnational banks are compared according to the “scale” of globalization. The study shows chronic disproportions between the dynamics of global capital growth and economic growth rates, leading to the state’s loss of control over the reproduction process. It is substantiated that the current transformation of the IMS in the direction of monetary polycentrism and regionalization is a natural reaction to these imbalances. The article reveals a negative relationship between the implementation of procyclical and anti-crisis monetary policies by the central banks of developed countries and the competitive positions of developing countries in international financial and commodity markets. The factors of using the oligopoly of the Big Three credit rating agencies as a “soft power” to maintain the US global hegemony and the status of the US dollar as a key reserve currency are systematized. The author concludes that in order for developing countries to form their own international liquidity, it is necessary to stimulate the internationalization of their currencies by developing pan-Asian financial institutions and encouraging competition between them and the existing institutions of the IMS.
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Garifollaevna, Ilyasova Gulmira, and Bekmukhametova Assemgul Bauirzhanovna. "MONETARY POLICY OF THE REPUBLIC OF KAZAKHSTAN." Humanities & Social Sciences Reviews 7, no. 5 (September 28, 2019): 103–10. http://dx.doi.org/10.18510/hssr.2019.7514.
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Purpose: Currently due to Kazakhstan's high vulnerability to external shocks, Kazakhstan needs new growth factors to accelerate and provide more inclusive growth. The National Bank of Kazakhstan, as the central bank, is responsible for the development and implementation of state monetary and credit policy within the framework of powers provided by current legislation. Objectives of monetary policy are primarily carried out to achieve this goal. Restoration of trust to actions of economic authorities is possible only if a balanced and responsible policy, supported by concrete actions and results, is implemented.
Methodology: This study provides a literature review of domestic and foreign authors, who conducted the study of monetary policy of Central Banks of countries in various aspects of international experience. The study gives an analytical overview of the current monetary policy of the Republic of Kazakhstan.
Main Findings: The study discusses the importance of Kazakhstan’s monetary-credit regulation as only by means of effective monetary policy state can mitigate economic crises, restrain inflation growth and stimulate investments in various sectors of country's economy. The studies are systematized theoretical and methodological research aspects of the monetary policy of Kazakhstan of which the conclusions and recommendations proposed to improve the economy of our country.
Implications/Applications: This suggests that we should work in the near future, look for drivers of growth, so as to ensure not just an anti-crisis manual management of the economy, but to enter the rails of sustainable development.
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Abdallah, Rim, Marina U. Bueno, Matthew Hsieh, and Willy A. Flegel. "Immune Hemolysis after a Hematopoietic Progenitor Cell Transplantation for Sickle Cell Disease: A Case Report." Blood 136, Supplement 1 (November 5, 2020): 20–21. http://dx.doi.org/10.1182/blood-2020-142230.
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Background:The incidence of Delayed Hemolytic Transfusion Reaction (DHTR) is 0.04% but is higher in patients with sickle cell disease (SCD). Although it has been reported in hematopoietic progenitor cell (HPC) transplantation, its incidence in SCD following nonmyeloablative HPC transplantation remains unknown. We report a recipient with blood group O who received a nonmyeloablative HPC transplantation with blood group A three years ago. She is now typing as blood group A and developed a DHTR after receiving group A red blood cells (RBC). Case Report:A 42-year-old female was transferred from an outside hospital (OSH) for management of Acute T-Cell Lymphoblastic Leukemia. Three years prior, she received a group A+ matched sibling nonmyeloablative HPC transplantation for SCD. Her original blood group was O+, and she had a history of clinically significant RBC alloantibodies (anti-E, anti-C, anti-Goa, anti-Kell, and anti-Jkb). On admission to OSH (Day 1), the type and screen showed group A+ without ABO discrepancy. The antibody screen was negative. The OSH blood bank was unaware of her immunohematologic history, because it was not communicated to them by the OSH hematologists, and the only documented diagnosis was that of acute leukemia. Per SOP, OSH performed only immediate spin crossmatch. She was transfused three units of A+ RBC at OSH in preparation for her transfer to us on Day 3 (Fig. 1). At admission to our hospital, her laboratory parameters were suggestive of both tumor lysis syndrome and hemolysis. Her type and screen specimen was grossly hemolyzed. She typed as Group A+. The Direct Antiglobulin Test (DAT) was positive with polyspecific antisera, positive for IgG and negative for bound complement factors. Antibody screen was negative except for the anti-Goa. In the eluate, we identified anti-A or anti-A,B, which were not differentiated for lack of clinical implications. Per our request, OSH retrospectively performed a pre-transfusion DAT, which was negative, and an AHG crossmatch of the pre-transfusion sample. The results showed that the RBC transfused at OSH on Day 1 were incompatible (1+) and those transfused on Day 2 after O+ platelet transfusion were compatible (Fig. 1). This confirmed that the eluted antibodies were not passively transferred from the platelet transfusion but were rather isoagglutinins from the patient's own plasma of her original blood type O. Chimerism studies indicted the presence of only 25% donor CD3 and 30% donor myeloid cells. Further studies at our institution confirmed the hemolysis to be due to anti-A/A,B and not anti-Goa. Antibody titers of the patient's plasma with A1 and A2 cells were low (1) and negative, respectively. The titer of the eluate with A1 cells and B cells was 4 and 2, respectively. The crossmatch of the patient's plasma with A1 cells was negative at immediate spin and 37oC but positive at the IgG phase, which explains the negative crossmatch at immediate spin at OSH. We believe that the exposure of the 2 incompatible A+ RBC at OSH prompted an anamnestic response, causing the hemolysis of the transfused RBC. Subsequently, the patient required the transfusion of 3 additional RBC. Due to the presence of positive DAT developed after 24 hours of transfusion (on Day 3), the positive elution test, inadequate rise of post-transfusion Hb level and rapid fall in Hb back to the concentration pre-transfusion (Fig. 1), this reaction is best classified as a definitive DHTR in accordance with the CDC hemovigilance guidelines. Conclusion:This case is a warning for the perfect storm from the combination of HPC transplantation and SCD. Our patient had a history of transplantation for SCD and clinically significant alloantibodies. OSH blood bank was not aware of her immunohematologic history, and she received incompatible RBC units that were crossmatched at immediate spin only. She subsequently developed a DHTR which was clinically significant, requiring blood transfusion. This is a good reminder of the importance of good communication between clinicians and the transfusion services. The need for caution when using electronic crossmatch or immediate spin is also important, especially in this era of transplantation for SCD. The absence of RBC antibodies cannot be assumed when a transfusion history is lacking. Increasing awareness, prevention and early recognition and treatment are essential to avoid the potential fatal complication of hemolytic transfusion reactions. Disclosures No relevant conflicts of interest to declare.
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Okoh, Michael P., Lukman A. Alli, Martti E. E. Tolvanen, and Maxwell M. Nwegbu. "Herbal Drug use in Sickle Cell Disease Management; Trends and Perspectives in Sub-Saharan Africa - A Systematic Review." Current Drug Discovery Technologies 16, no. 4 (December 11, 2019): 372–85. http://dx.doi.org/10.2174/1570163815666181002101611.
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Introduction: Nigeria has the largest burden of Sickle Cell Disease (SCD) with estimated 100,000 new born affected annually. SCD is a Hemoglobin (Hb) disorder with the major form resulting from the substitution of a polar glutamate (Glu) by non-polar Valine (Val) in an invariant region of Hbβ chain-subunit. Species of Hb found in the sickle cell trait are HbA and HbS in a 60:40 proportion, in SCD only HbS, in the HbC disease only HbC, and in the SC disease it's HbS and HbC in a 50:50 equal proportion. Objective: This paper reviews herbal medicines usage in sub-Saharan Africa (sSA) to ameliorate the crisis associated with SCD. The model Hb tetramer suggests a higher membrane affinity of HbS and HbC, promoting dehydration of RBCs, with concomitant in vivo crystallization. Some drawbacks using these herbal drugs include; poor bioavailability and the lack of proper pharmacovigilance monitoring procedures arising from weak governance structure combined with under reporting of herbal usage to physicians were discussed. Probable epigenetic loci that could be targeted using phytomedicines for effective SCD management were also discussed. Methods: Using search engines, several databases including Google scholar, PubMed, Academic Resource Index were utilized as a source for relevant publications/ literature. The protein coordinates for the Hb tetramer were obtained from the Protein Data Bank (PDB). Conclusion: Manipulation of epigenetics to achieve better SCD management involves careful thinking. Herein, we discuss some epigenetic interactions that could be putatively tweaked with a view of enhancing soluble bioactive small molecular components with the potential to reactivate γ -globin genes, thereby boosting immune response in patient with SCD.
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Bobrov, A. "Transformation of the EU Monetary Policy in an Age of Financial Instability." World Economy and International Relations 66, no. 2 (2022): 33–41. http://dx.doi.org/10.20542/0131-2227-2022-66-2-33-41.
Full textAbstract:
Challenges the European economy began to face 12 years ago raised the question about actions European Central Bank (ECB) have to undertake to maintain the financial sustainability, considering its objective to ensure price stability while coping with a changed economic environment. Provision that the ECB is obliged to take efforts to ensure financial stability as well as potentially serious consequences of crisis’ impact on the banking system and industrial production, led to an expansion of its role beyond standard monetary policy measures, with the unconventional steps being taken in addition to conventional to combat the adverse impact of the financial crisis. While reducing the interest rate, ECB also provided a cheap financial capital for banks via fixed-rate “Long Term Refinancing Operations” (LTROs), and three “Covered Bond Purchase Programmes” (CBPP). Purchases of debt securities were also conducted via “Securities Market Programme” (SMP) and, later, with then ECB’s President Mario Draghi declaring that ECB will do “whatever it takes to preserve the euro”, possibility of their increase was announced with the start of “Outright Monetary Transactions” (OMT) Programme. A mere announcement of the OMT was enough to calm financial markets, as none of the eurozone countries applied for financial support within this programme’s framework. Then ECB proceeded with a full-fledged quantitative easing, starting to buy sovereign bonds under its Public Sector Purchase Programme (PSPP), having spent 2.6 trillion € on its implementation. Understanding that a monetary union without an efficient banking union is unacceptably dangerous, the European Banking Union, under which supervision of largest eurozone banks has transferred directly to the ECB, was progressively established. While ECB’s anti-crisis policies achieved their goals, prolongation of the strategy it adopted may create new risks for the financial stability of the euro area, such as excessive dependence of credit institutions on monetary support and excessive inflationary risks under a zero interest-rate policy. Still, EU institutions’ coordinated financial management played an important role in overcoming the existing turbulence, with fiscal and monetary policy measures reinforcing each other.
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Sreehari, M., M. M. Sana, and Cyril Tom. "Co-Trimoxazole Induced Severe Cutaneous Adverse Reaction: A Challenging Diagnosis." Journal of Drug Delivery and Therapeutics 10, no. 5-s (October 15, 2020): 191–94. http://dx.doi.org/10.22270/jddt.v10i5-s.4428.
Full textAbstract:
Introduction; Drug Reaction with Eosinophilia and systemic symptoms (DRESS) Syndrome is a life-threatening reaction with a mortality rate of 10-20%. Usual reaction period is 2 to 6 week after the first intake of drug. The present case is an example of late presentation of the symptoms which made the diagnosis difficult.
Clinical case: We describe a case of 51 year old male with known history of Acquired ImmunoDeficiency Syndrome (AIDS) and Tuberculosis (TB) presented with complaints of fever, generalised scaling, oedema, eosinophilia and elevated liver enzymes. The symptoms started 45 days back but was then misdiagnosed and treated as exfoliative dermatitis from a local hospital. The symptoms aggravated since 5 days and were admitted in our hospital. Drug reaction was least suspected as he has been taking the Antiretroviral (ART) and Anti-tubercular (ATT) drugs since 3 to 4 months. But later on culprit drug was identified to be Sulfamethoxazole-Trimethoprim and was soon discontinued. Significant improvement was seen with steroid, antihistamines and other topical agents.
Discussion: Timely recognition of DRESS Syndrome, prompt discontinuation of culprit drug and symptomatic management are imperative in a better prognosis. It must also be noted that the latency period can be as long as 105 days after the first intake of the drug, rather than the usual presentation period of 2-6 week.
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Shust, O., O. M. Varchenko, D. Krysanov, O. Dragan, and K. Tkachenko. "Modern financial and economic crises and the stability of the financial and banking system of Ukraine." Ekonomìka ta upravlìnnâ APK, no. 2 (169) (December 9, 2021): 130–50. http://dx.doi.org/10.33245/2310-9262-2021-169-2-130-150.
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Factors, problems and risks are analyzed and systematized, in particular, technical-technological and innovation backwardness, peculiarities of economic cycles in economic systems of countries at different stages of development, as well as due to increasing competitiveness of some of them in the globalized world. crisis. It is shown that the situation worsens when the world economy grows, and against its background, imbalances in the global financial system are growing and speculative capital is spreading. It is revealed that the first global crisis of 2008–2010 was provoked by the uncontrolled spread of mortgage loans in the US real estate markets and the transfer of these processes to other countries, resulting in "financial bubbles", a market crash and a chain reaction involving others. markets. Emphasis is placed on the fact that when Ukraine's economy was in a state of permanent crisis, the domestic banking system withstood all domestic economic, financial, currency and other changes, as well as external turbulence, which provoked the strengthening of negative trends. It is established that the second financial and economic crisis of 2014–2016 is largely due to internal problems: much lower technological structure (third-fourth compared to fifth-sixth in economically developed countries), significant lag of Ukrainian industry in terms of innovation from industry EU countries, a high level of depreciation of fixed assets, much higher resource intensity and lower productivity, unrealistic in a few years to carry out innovative modernization of machine-building industries for the production of means of production. An acute threat has been revealed that the unlimited increase in speculative capital has exacerbated structural imbalances between the real and financial sectors. The main negative consequences of the crisis for the financial and banking system are systematized: they include more than three devaluations of the hryvnia, liquidation of more than a hundred banks and privatization of the largest of them, Privatbank, closure of several thousand banking branches and large–scale unemployment. It is confirmed that the third financial and economic crisis of 2020–2021 has a natural origin – it was caused by the pandemic COVID-19 caused by the coronavirus SARS-CoV, and its consequences. It is established that the corona crisis has provoked various negative effects on the work of industry and social services, has caused significant damage to all countries and the vast majority of the world's population. It is shown that Ukraine proved to be more resilient to these troubles and the pre-crisis revival began in the second quarter of this year. It is substantiated that the implementation of macroprudential policy measures aimed at preventing the accumulation and implementation of systemic risks in the financial sector will help increase the stability of the financial and banking system, properly perform its main functions – financial intermediation and payments – and crisis management. It is shown that timely and effective implementation of macroprudential instruments will increase the stability of the national economy and reduce GDP volatility. Key words: financial and economic crisis, stability of the financial and banking system, economic cycle, market turbulence, inflation, capital movements, financial markets.