This study is motivated by the lack of direct empirical research on the relationship between intangible assets （IA） and loan interest rates for small- and medium-sized enterprises （SMEs） in emerging markets. This ...This study is motivated by the lack of direct empirical research on the relationship between intangible assets （IA） and loan interest rates for small- and medium-sized enterprises （SMEs） in emerging markets. This study uses a multivariate regression to investigate the effects of 1A on loan interest rates by focusing on SMEs. Using a panel sample of 186 publicly-listed SMEs with 952 annual observations in Taiwan from 2001 to 2006, the empirical findings indicate that an SME＇s IA does negatively affect loan interest rates. The main contribution of this study lies in its direct testing of whether IA can affect the loan interest rates for SMEs in an emerging market. The finding provides empirical evidence that an SME with greater IA leads to lower interest rates on bank loans, implying that SMEs should strive to invest in IA and enhance their knowledge management for obtaining more benefits of loan interest rates. Furthermore, the findings may provide empirical evidence for SMEs in emerging markets and can be compared with those for firms in industrialized economies.展开更多
The network arbitration cases arising from the network lending disputes are pouring into the courts in large numbers.It is reported that the network arbitration system of some arbitration institutions even“can accept...The network arbitration cases arising from the network lending disputes are pouring into the courts in large numbers.It is reported that the network arbitration system of some arbitration institutions even“can accept more than 10,000 cases every day,”while online lending is booming,it has also caused a lot of contradictions and disputes,and traditional dispute resolution methods have failed to effectively respond to the need for efficient and convenient resolution of online lending disputes.This paper tries to study the arbitral award of online loans and proposes the construction of implementation review rules.展开更多
In order to reduce the risk of non-performing loans, losses, and improve the loan approval efficiency, it is necessary to establish an intelligent loan risk and approval prediction system. A hybrid deep learning model...In order to reduce the risk of non-performing loans, losses, and improve the loan approval efficiency, it is necessary to establish an intelligent loan risk and approval prediction system. A hybrid deep learning model with 1DCNN-attention network and the enhanced preprocessing techniques is proposed for loan approval prediction. Our proposed model consists of the enhanced data preprocessing and stacking of multiple hybrid modules. Initially, the enhanced data preprocessing techniques using a combination of methods such as standardization, SMOTE oversampling, feature construction, recursive feature elimination (RFE), information value (IV) and principal component analysis (PCA), which not only eliminates the effects of data jitter and non-equilibrium, but also removes redundant features while improving the representation of features. Subsequently, a hybrid module that combines a 1DCNN with an attention mechanism is proposed to extract local and global spatio-temporal features. Finally, the comprehensive experiments conducted validate that the proposed model surpasses state-of-the-art baseline models across various performance metrics, including accuracy, precision, recall, F1 score, and AUC. Our proposed model helps to automate the loan approval process and provides scientific guidance to financial institutions for loan risk control.展开更多
This paper develops a model where two lenders to subprime borrowers compete with the interest rates charged and the severity of loan covenants. The model has a stable equilibrium, which demonstrates how an increase in...This paper develops a model where two lenders to subprime borrowers compete with the interest rates charged and the severity of loan covenants. The model has a stable equilibrium, which demonstrates how an increase in the number of borrowers or an increase in the cost of meeting covenants will reduce the severity of the covenants required by lenders, and each of these changes will increase the difference in the severity of the loan covenant levels. An increase in the expected losses to the lender from relaxing covenants will increase the severity of loan covenants, and this will also make the levels of severity more dispersed. Additional analysis demonstrates how exogenous shifts affect the interest rates charged by the lenders and their profits展开更多
In recent years,there has been a gradual upsurge in the international use of RMB in China's real economy,leading to a growing potential demand for offshore RMB international settlement,deposits and loans,and other...In recent years,there has been a gradual upsurge in the international use of RMB in China's real economy,leading to a growing potential demand for offshore RMB international settlement,deposits and loans,and other financial services.Against such a background,the development of domestic offshore finance with RMB as the main transaction currency is beneficial to meet these financial needs and promote the high-quality development of the real economy.The key to developing domestic offshore finance in China is to deeply understand the needs of the real economy,vigorously develop offshore RMB businesses and products,build an offshore RMB financial system,facilitate the global layout of China's real economy,and steadily advance the internationalization of RMB.展开更多
The purpose of this paper is to examine the time series properties of Australian residential mortgage interest rates, and in doing so, establish whether or not selected home loan rates （product-level monthly home loa...The purpose of this paper is to examine the time series properties of Australian residential mortgage interest rates, and in doing so, establish whether or not selected home loan rates （product-level monthly home loan interest rates for CBA） exhibit the expected cyclical and seasonal variations and whether seasonality, if present, is stochastic or deterministic. In particular, due to a well established presence of cyclicality in financial markets＇ interest rates and strong correlation between financial markets＇ interest rates and home loan interest rates, the paper presumes that cyclicality is also to be found in home loan interest rates. Furthermore, the paper tests the hypothesis that home loan interest rates, for selected products, exhibit the three identified （＂Spring＂, ＂Autumn＂ and ＂The end of the Financial Year＂） season-related interest rate reductions. The paper uses a structural time series modelling approach and product-level home loan interest rates data from one of the biggest banks in Australia, Commonwealth Bank of Australia （CBA）. As expected, the results overall confirm the existence of cyclicality in home loan interest rates. With respect to the seasonality of home loan interest rate, although most of the analysed variables show the presence of statistically significant seasonal factors, the majority of the statistically significant seasonal factors observed cannot be attributed to any of the three considered seasonal effects.展开更多
Based on the redefinition of Chinese loan words and corresponding types of Chinese loan words, this article makes an initiative hypothesis that nowadays the ideographic trend of Chinese loan words is being hastened to...Based on the redefinition of Chinese loan words and corresponding types of Chinese loan words, this article makes an initiative hypothesis that nowadays the ideographic trend of Chinese loan words is being hastened to a greater degree than before.Depending on the Prototype Models Theory for the types of Chinese loan words, a comprehensive analysis of this trend is made in four aspects:the transfer from transliteration loans to loan translation;the ideographic trend of transliteration loans;the full ideograph of shift loan words;word-for-word translation of loan words.展开更多
The development of China has tremendously enhanced the intercultural communication among various nations and ethnic groups. As a result, more and more words are borrowed from English into Chinese to express those west...The development of China has tremendously enhanced the intercultural communication among various nations and ethnic groups. As a result, more and more words are borrowed from English into Chinese to express those western-oriented objects,concepts, values, etc. This paper focuses on English loan words and their impact on Chinese. First, their classification will be presented; then, this paper will elaborate on the main characteristics of them; at last, their lexical as well as cultural impact on Chinese are revealed. Overall, it aims at proving that English loan words help promote the development and innovation of the Chinese language and enhance the performance of different language learners thus facilitating international exchange and crosscultural communication.展开更多
Background:This study examined the determinants of loan repayment among microcredit finance group members in Delta State,Nigeria.Methods:To capture the determinants of loan repayment in the study area,a total of 48 mi...Background:This study examined the determinants of loan repayment among microcredit finance group members in Delta State,Nigeria.Methods:To capture the determinants of loan repayment in the study area,a total of 48 microcredit groups and 300 microcredit group members were randomly selected through a multi-stage random sampling technique.The study data was collected by questionnaire.Statistical tools such as simple descriptive statistics(table,frequency,percentage and mean)and a multiple regression analysis were used to examine the data.Results:The results indicate that females form a greater proportion of the study area microcredit group members at 70%,moreover 73%of the respondents have a household size of between 6 to 10 persons.These findings revealed that the groups had a mean 8 years of existence with a mean membership size of 13 persons.Further,an average interest rate of 40 percent per annum was charged on loans,with mean loan duration of 6 months.The regression’s result demonstrated that the determinants of the group member’s loan repayment included the group member’s age,household size,house income,and educational level,the amount of credit received,length of stay in their locality,distance to the credit source,supervision and disbursement lag.Conclusion:Therefore it was suggested that the various agricultural microcredit finance groups should carefully examine the significant determinants of loan repayment for the approach’s viability and sustainability and for optimum repayment performance.展开更多
During the financial crisis, the delayed recognition of credit losses on loans and other financial instruments was identified as a weakness in existing incurred loss model of impairment stated by International Account...During the financial crisis, the delayed recognition of credit losses on loans and other financial instruments was identified as a weakness in existing incurred loss model of impairment stated by International Accounting Standards （IAS） 39, because it is believed that this delay might generate pro-cyclical effects. In response to the recommendations of G20, Financial Crisis Advisory Group （FCAG）, and other international bodies, the International Accounting Standards Board （IASB） has undertaken, since 2009, as a part of the project to replace IAS 39, a project （partially shared with Financial Accounting Standards Board （FASB）） aimed at introducing an expected loss model of impairment. Within the scope of this subset project, the IASB has previously issued two exposure documents proposing models to account for expected credit losses： an exposure draft （ED） Financial Instrument： Amortized Cost and Impairment, published in November 2009, and a supplementary document （SD） Financial Instrument： Impairment, published jointly with the FASB in January 2011. However, neither of the two proposals received strong support from interested parties. Recently, the IASB, after the FASB＇s decision to withdraw from the joint project and to develop a separate expected credit loss model based on a single measurement approach consisting in the sole recognition of lifetime expected credit losses, published a third proposal--Ahe so-called expected credit losses model （ED/2013/3 Financial Instruments： Expected Credit Losses）.展开更多
Central bank digital currencies(CBDCs),which are legal tenders in digital form,are expected to reduce currency issuance and circulation costs and broaden the scope of monetary policy.In addition,these currencies may a...Central bank digital currencies(CBDCs),which are legal tenders in digital form,are expected to reduce currency issuance and circulation costs and broaden the scope of monetary policy.In addition,these currencies may also reduce consumers’need for conventional demand deposits,which,in turn,increases banks’loan provision costs because deposits require higher rates of return.We use a microeconomic banking model to investigate the effects of introducing an economy-wide,account-type CBDC on a bank’s loan supply and its failure risk.Given that a CBDC is expected to lower the cost of liquidity circulation and become a strong substitute for demand deposits,both the loan supply and the bank failure risk increase.These increases are countered by subsequent increases in the rates of return on term deposits and loans,which,in turn,reduce the loan supply and thus bank failure risk.These offsetting forces lead to no significant change in banking,as long as the rate of return on loans is below a certain threshold.However,once the rate is above the threshold,bank failure risk increases,thereby undermining banking stability.The problem is more pronounced when the degree of pass-through of funding costs to the loan rate is high and the profitability of a successful project is low.Our results imply that central banks wishing to introduce an economy-wide,account-type CBDC should first monitor yields on bank loans and consider policy measures that induce banks to maintain adequate liquidity reserve levels.展开更多
Background:The dramatic loan growth and changes in the Pakistani banking system in mid-2000s have led to significant research attention on borrowers and lenders.This expansion and diversification in financial sector w...Background:The dramatic loan growth and changes in the Pakistani banking system in mid-2000s have led to significant research attention on borrowers and lenders.This expansion and diversification in financial sector was driven by structural reforms,political stability and significant economic growth.Against this background,this study investigates the loan growth and risk-taking behavior of the banks during the expansionary periods of lending.Method:This study used dynamic two-step system generalized method of moment’s estimation technique,based on data taken from 32 banks in Pakistan over 2006-2014.Result:Loan growth has a significant effect on bank-specific and macroeconomicspecific variables.Loan growth in the previous year raises non-performing loans and decreases the solvency of banks with a time lag of many years.The driving force behind this phenomenon is weak prudential regulation among competitors,the asymmetric information of the borrowers,and,most importantly,that banks underestimate the risk of lending during credit booms.Conclusion:More regulatory measures are required to ensure a strong financial system when the volume of non-performing loan grows significantly.An increase in the capital requirement policy for rapidly growing banks is also needed because the problem of abnormal loan growth cannot be detected at the current time.At the same time,strong supervision is necessary to avoid the adverse consequences of borrower selection.展开更多
This paper describes the development of a knowledgebased system (KBS) for determining whether or not, and under what conditions, a bank Ioan officer should grant a business loan to a company. The prototype system deve...This paper describes the development of a knowledgebased system (KBS) for determining whether or not, and under what conditions, a bank Ioan officer should grant a business loan to a company. The prototype system developed focuses on what is bank loans risks management, how to prevent risk by the analysis of the ability of paying back loans. The paper makes the structural analysis involved in the system's decision situation, the structured situation diagram or model, dependency diagram and the document needed by the KBS prototype system thus are developed. Through testing the samples from loan business, the quality for the analysis of the ability of paying back loans can be effectively evaluated by the KBS prototype system.展开更多
文摘This study is motivated by the lack of direct empirical research on the relationship between intangible assets （IA） and loan interest rates for small- and medium-sized enterprises （SMEs） in emerging markets. This study uses a multivariate regression to investigate the effects of 1A on loan interest rates by focusing on SMEs. Using a panel sample of 186 publicly-listed SMEs with 952 annual observations in Taiwan from 2001 to 2006, the empirical findings indicate that an SME＇s IA does negatively affect loan interest rates. The main contribution of this study lies in its direct testing of whether IA can affect the loan interest rates for SMEs in an emerging market. The finding provides empirical evidence that an SME with greater IA leads to lower interest rates on bank loans, implying that SMEs should strive to invest in IA and enhance their knowledge management for obtaining more benefits of loan interest rates. Furthermore, the findings may provide empirical evidence for SMEs in emerging markets and can be compared with those for firms in industrialized economies.
文摘The network arbitration cases arising from the network lending disputes are pouring into the courts in large numbers.It is reported that the network arbitration system of some arbitration institutions even“can accept more than 10,000 cases every day,”while online lending is booming,it has also caused a lot of contradictions and disputes,and traditional dispute resolution methods have failed to effectively respond to the need for efficient and convenient resolution of online lending disputes.This paper tries to study the arbitral award of online loans and proposes the construction of implementation review rules.
文摘In order to reduce the risk of non-performing loans, losses, and improve the loan approval efficiency, it is necessary to establish an intelligent loan risk and approval prediction system. A hybrid deep learning model with 1DCNN-attention network and the enhanced preprocessing techniques is proposed for loan approval prediction. Our proposed model consists of the enhanced data preprocessing and stacking of multiple hybrid modules. Initially, the enhanced data preprocessing techniques using a combination of methods such as standardization, SMOTE oversampling, feature construction, recursive feature elimination (RFE), information value (IV) and principal component analysis (PCA), which not only eliminates the effects of data jitter and non-equilibrium, but also removes redundant features while improving the representation of features. Subsequently, a hybrid module that combines a 1DCNN with an attention mechanism is proposed to extract local and global spatio-temporal features. Finally, the comprehensive experiments conducted validate that the proposed model surpasses state-of-the-art baseline models across various performance metrics, including accuracy, precision, recall, F1 score, and AUC. Our proposed model helps to automate the loan approval process and provides scientific guidance to financial institutions for loan risk control.
文摘This paper develops a model where two lenders to subprime borrowers compete with the interest rates charged and the severity of loan covenants. The model has a stable equilibrium, which demonstrates how an increase in the number of borrowers or an increase in the cost of meeting covenants will reduce the severity of the covenants required by lenders, and each of these changes will increase the difference in the severity of the loan covenant levels. An increase in the expected losses to the lender from relaxing covenants will increase the severity of loan covenants, and this will also make the levels of severity more dispersed. Additional analysis demonstrates how exogenous shifts affect the interest rates charged by the lenders and their profits
文摘In recent years,there has been a gradual upsurge in the international use of RMB in China's real economy,leading to a growing potential demand for offshore RMB international settlement,deposits and loans,and other financial services.Against such a background,the development of domestic offshore finance with RMB as the main transaction currency is beneficial to meet these financial needs and promote the high-quality development of the real economy.The key to developing domestic offshore finance in China is to deeply understand the needs of the real economy,vigorously develop offshore RMB businesses and products,build an offshore RMB financial system,facilitate the global layout of China's real economy,and steadily advance the internationalization of RMB.
文摘The purpose of this paper is to examine the time series properties of Australian residential mortgage interest rates, and in doing so, establish whether or not selected home loan rates （product-level monthly home loan interest rates for CBA） exhibit the expected cyclical and seasonal variations and whether seasonality, if present, is stochastic or deterministic. In particular, due to a well established presence of cyclicality in financial markets＇ interest rates and strong correlation between financial markets＇ interest rates and home loan interest rates, the paper presumes that cyclicality is also to be found in home loan interest rates. Furthermore, the paper tests the hypothesis that home loan interest rates, for selected products, exhibit the three identified （＂Spring＂, ＂Autumn＂ and ＂The end of the Financial Year＂） season-related interest rate reductions. The paper uses a structural time series modelling approach and product-level home loan interest rates data from one of the biggest banks in Australia, Commonwealth Bank of Australia （CBA）. As expected, the results overall confirm the existence of cyclicality in home loan interest rates. With respect to the seasonality of home loan interest rate, although most of the analysed variables show the presence of statistically significant seasonal factors, the majority of the statistically significant seasonal factors observed cannot be attributed to any of the three considered seasonal effects.
文摘Based on the redefinition of Chinese loan words and corresponding types of Chinese loan words, this article makes an initiative hypothesis that nowadays the ideographic trend of Chinese loan words is being hastened to a greater degree than before.Depending on the Prototype Models Theory for the types of Chinese loan words, a comprehensive analysis of this trend is made in four aspects:the transfer from transliteration loans to loan translation;the ideographic trend of transliteration loans;the full ideograph of shift loan words;word-for-word translation of loan words.
文摘The development of China has tremendously enhanced the intercultural communication among various nations and ethnic groups. As a result, more and more words are borrowed from English into Chinese to express those western-oriented objects,concepts, values, etc. This paper focuses on English loan words and their impact on Chinese. First, their classification will be presented; then, this paper will elaborate on the main characteristics of them; at last, their lexical as well as cultural impact on Chinese are revealed. Overall, it aims at proving that English loan words help promote the development and innovation of the Chinese language and enhance the performance of different language learners thus facilitating international exchange and crosscultural communication.
文摘Background:This study examined the determinants of loan repayment among microcredit finance group members in Delta State,Nigeria.Methods:To capture the determinants of loan repayment in the study area,a total of 48 microcredit groups and 300 microcredit group members were randomly selected through a multi-stage random sampling technique.The study data was collected by questionnaire.Statistical tools such as simple descriptive statistics(table,frequency,percentage and mean)and a multiple regression analysis were used to examine the data.Results:The results indicate that females form a greater proportion of the study area microcredit group members at 70%,moreover 73%of the respondents have a household size of between 6 to 10 persons.These findings revealed that the groups had a mean 8 years of existence with a mean membership size of 13 persons.Further,an average interest rate of 40 percent per annum was charged on loans,with mean loan duration of 6 months.The regression’s result demonstrated that the determinants of the group member’s loan repayment included the group member’s age,household size,house income,and educational level,the amount of credit received,length of stay in their locality,distance to the credit source,supervision and disbursement lag.Conclusion:Therefore it was suggested that the various agricultural microcredit finance groups should carefully examine the significant determinants of loan repayment for the approach’s viability and sustainability and for optimum repayment performance.
文摘During the financial crisis, the delayed recognition of credit losses on loans and other financial instruments was identified as a weakness in existing incurred loss model of impairment stated by International Accounting Standards （IAS） 39, because it is believed that this delay might generate pro-cyclical effects. In response to the recommendations of G20, Financial Crisis Advisory Group （FCAG）, and other international bodies, the International Accounting Standards Board （IASB） has undertaken, since 2009, as a part of the project to replace IAS 39, a project （partially shared with Financial Accounting Standards Board （FASB）） aimed at introducing an expected loss model of impairment. Within the scope of this subset project, the IASB has previously issued two exposure documents proposing models to account for expected credit losses： an exposure draft （ED） Financial Instrument： Amortized Cost and Impairment, published in November 2009, and a supplementary document （SD） Financial Instrument： Impairment, published jointly with the FASB in January 2011. However, neither of the two proposals received strong support from interested parties. Recently, the IASB, after the FASB＇s decision to withdraw from the joint project and to develop a separate expected credit loss model based on a single measurement approach consisting in the sole recognition of lifetime expected credit losses, published a third proposal--Ahe so-called expected credit losses model （ED/2013/3 Financial Instruments： Expected Credit Losses）.
基金support from the National Research Foundation of Korea funded by the Ministry of Education(NRF-2020S1A5A8044620).
文摘Central bank digital currencies(CBDCs),which are legal tenders in digital form,are expected to reduce currency issuance and circulation costs and broaden the scope of monetary policy.In addition,these currencies may also reduce consumers’need for conventional demand deposits,which,in turn,increases banks’loan provision costs because deposits require higher rates of return.We use a microeconomic banking model to investigate the effects of introducing an economy-wide,account-type CBDC on a bank’s loan supply and its failure risk.Given that a CBDC is expected to lower the cost of liquidity circulation and become a strong substitute for demand deposits,both the loan supply and the bank failure risk increase.These increases are countered by subsequent increases in the rates of return on term deposits and loans,which,in turn,reduce the loan supply and thus bank failure risk.These offsetting forces lead to no significant change in banking,as long as the rate of return on loans is below a certain threshold.However,once the rate is above the threshold,bank failure risk increases,thereby undermining banking stability.The problem is more pronounced when the degree of pass-through of funding costs to the loan rate is high and the profitability of a successful project is low.Our results imply that central banks wishing to introduce an economy-wide,account-type CBDC should first monitor yields on bank loans and consider policy measures that induce banks to maintain adequate liquidity reserve levels.
文摘Background:The dramatic loan growth and changes in the Pakistani banking system in mid-2000s have led to significant research attention on borrowers and lenders.This expansion and diversification in financial sector was driven by structural reforms,political stability and significant economic growth.Against this background,this study investigates the loan growth and risk-taking behavior of the banks during the expansionary periods of lending.Method:This study used dynamic two-step system generalized method of moment’s estimation technique,based on data taken from 32 banks in Pakistan over 2006-2014.Result:Loan growth has a significant effect on bank-specific and macroeconomicspecific variables.Loan growth in the previous year raises non-performing loans and decreases the solvency of banks with a time lag of many years.The driving force behind this phenomenon is weak prudential regulation among competitors,the asymmetric information of the borrowers,and,most importantly,that banks underestimate the risk of lending during credit booms.Conclusion:More regulatory measures are required to ensure a strong financial system when the volume of non-performing loan grows significantly.An increase in the capital requirement policy for rapidly growing banks is also needed because the problem of abnormal loan growth cannot be detected at the current time.At the same time,strong supervision is necessary to avoid the adverse consequences of borrower selection.
基金Supported by the National Science Foundation of China(No.7977086)
文摘This paper describes the development of a knowledgebased system (KBS) for determining whether or not, and under what conditions, a bank Ioan officer should grant a business loan to a company. The prototype system developed focuses on what is bank loans risks management, how to prevent risk by the analysis of the ability of paying back loans. The paper makes the structural analysis involved in the system's decision situation, the structured situation diagram or model, dependency diagram and the document needed by the KBS prototype system thus are developed. Through testing the samples from loan business, the quality for the analysis of the ability of paying back loans can be effectively evaluated by the KBS prototype system.
