Research on Early Warning of Banking Crises from the Perspective of Credit Structures

The relationship between credit expansion and banking crises is complex and cannot be fully explained by total credit alone.A systematic analysis of the relationship between the amount and structure of total credit and banking crises is important for an objective prediction of the influence of potential financial risks.This paper,drawing on data from 15 selected countries,delves into the power of credit indicators in the early warning of banking crises from the perspectives of industrial structure,sector structure,and term structure of credit.Various machine learning methods were used,including Logistic Regression,Random Forest,Decision Tree,Support Vector Machine(SVM),Bagging,and Boosting models.The empirical findings indicate that credit expansion plays a crucial role in triggering banking crises.However,total credit is better suited for the early warning of short-term banking crises,whereas credit structure is more useful for the early warning of long-term banking crises.Moreover,in an early warning system,identifying key early warning indicators is more meaningful than merely increasing the number of indicators.Machine learning can somewhat enhance the early warning power,but it may not always be robust.Therefore,more attention should be paid to potential systemic banking crises resulting from an imbalance in credit structure while regulating the total credit threshold.

ISO Certification and Technical Efficiency in the Banking Sector:An Evidence from WAEMU’s Countries Using the DEA Method

In the view of the international organization of standardization,the introduction of ISO standards is typical of quality management systems oriented towards strengthening the efficiency of enterprises.Business banks are not excluded from this requirement.The current study aims to evaluate the effect of ISO certification on the technical performance of WAEMU banks.Using BCEAO data(2020),the DEA model and Tobit estimates show that ISO certification has no effect on the efficiency scores of the banks in the sample.It is therefore appropriate for these banks to work on improving their business climate.

Private banking development in China under two organizational structures:Economic analysis from an organizational innovation perspective

This paper investigates optimal decisions for private banking development in China under two innovative organizational structures—the big retail mode(BRM)and the independent development mode(IDM).Under the BRM,the retail and private banking divisions form a cooperative relationship wherein the former transfers highnet-worth customers to the latter.In addition,retail banking receives a share of private banking revenues.We investigate the optimal revenue-sharing ratio between the two divisions and the optimal effort by private banking to serve transferred customers within the cooperative relationship.The analytical results show that as the private banking division becomes more developed,the optimal revenue-sharing ratio decreases,and the private banking division’s optimal effort to serve transferred customers decreases because it puts more effort into acquiring new customers.Under the IDM,the two divisions form a competitive relationship since they compete to acquire customers independently.We investigate customer acquisition efforts in this interdivisional competition.Optimal customer acquisition efforts by both divisions increase in potential assets and rates of return.This paper contributes to the literature by(1)analyzing financial innovation by private banks from an organizational perspective;(2)providing an economic analysis for private banking development in China.

Dental pulp stem cells and banking of teeth as a lifesaving therapeutic vista

Exfoliated deciduous or an extracted healthy adult tooth can be used to harvest,process,and cryogenically preserve dental pulp stem cells.Future stem cell-based regenerative medicine methods could benefit significantly from these mesenchymal stem cells.Teeth serve as a substantial source of mesenchymal stem cells,otherwise disposed of as medical waste.Care should be taken to store this treasure trove of stem cells.Collective responsibility of patients,dentists,and physicians is necessary to ensure that this valuable resource is not wasted and that every possible dental pulp stem cell is available for use in the future.The dental pulp stem cells(DPSC)inside teeth represent a significant future source of stem cells for regenerative medicine procedures.This review describes the ontogeny,the laboratory processing and collection,and isolation methods of DPSC.This review also discusses currently available stem cell banking facilities and their potential use in regenerative medicine procedures in dental and general medical applications in the future.

Does country risk impact the banking sectors’non‑performing loans?Evidence from BRICS emerging economies

This study aims to fill the gap in the literature by specifically investigating the impact of country risk on the credit risk of the banking sectors operating in Brazil,Russia,India,China,and South Africa(BRICS),emerging countries.More specifically,we explore whether the country-specific risks,namely financial,economic,and political risks significantly impact the BRICS banking sectors’non-performing loans and also probe which risk has the most outstanding effect on credit risk.To do so,we perform panel data analysis using the quantile estimation approach covering the period 2004–2020.The empirical results reveal that the country risk significantly leads to increasing the banking sector’s credit risk and this effect is prominent in the banking sector of countries with a higher degree of non-performing loans(Q.25=−0.105,Q.50=−0.131,Q.75=−0.153,Q.95=−0.175).Furthermore,the results underscore that an emerging country’s political,economic,and financial instabilities are strongly associated with increasing the banking sector’s credit risk and a rise in political risk in particular has the most positive prominent impact on the banking sector of countries with a higher degree of non-performing loans(Q.25=−0.122,Q.50=−0.141,Q.75=−0.163,Q.95=−0.172).Moreover,the results suggest that,in addition to the banking sectorspecific determinants,credit risk is significantly impacted by the financial market development,lending interest rate,and global risk.The results are robust and have significant policy suggestions for many policymakers,bank executives,researchers,and analysts.

Open banking and inclusive finance in the European Union:perspectives from the Dutch stakeholder ecosystem

In the European Union(EU),the revised Payment Services Directive(PSD2)aims to provide more convenient and customized financial products through open banking(OB)platforms.However,little attention has been paid to the role of OB in improving the financial well-being of the growing number of the EU’s underserved groups,which currently constitute approximately a quarter of its population.This study examines how the PSD2 and OB impact inclusive finance in the EU based on the perspectives of the Netherlands’ecosystem,one of the leaders in the EU’s financial technology(FinTech)landscape.A fundamental distinction can be drawn between the OB users and the ecosystem’s players.Regarding the impact of financial services on the users’inclusivity,while the PSD2 strengthens the infrastructure necessary for financial inclusion,many challenges remain,mainly because it was not designed for this purpose.This study identifies several areas of improvement that include adjustments to the know your customer and anti-money laundering processes for underserved customers,innovative ways to communicate the PSD2’s potential,and the regulation of technology providers’activities to build trust.Meanwhile,from the ecosystem’s position,there is a need to strengthen and improve microfinance regulation according to the opportunities provided by the PSD2 to support microfinance institutions(MFIs)in scaling up and reaching underserved clients across borders with innovative services.OB improvements can also be achieved by organizations formed by MFIs and FinTechs in collaboration with banks.Such hybrid institutions will combine the best features of each of them:knowledge of the needs of local underserved clients from MFIs,technological innovations from FinTechs,and large and trusted customer bases,infrastructures,and access to institutional investments and governments from banks.Finally,an EU inclusive OB sector depends on the centrality of trusted regulators as coordination bodies.The PSD2 requires adjustments for underserved populations’specific needs.OB improvements can be achieved by organizations formed by MFIs and Fin-Techs in collaboration with banks.Regulated technical service providers(TSPs)are crucial to building trust and customer adoption in OB.The European Banking Authority(EBA)may function as coordination body to design inclusive rules by engaging with OB stakeholders.As inclusive finance moves into open-finance and data eras,an increasing regulatory complexity and scope will require networks of innovative and trusted regulators.

Data envelopment analysis for scale elasticity measurement in the stochastic case:with an application to Indian banking

In the nonparametric data envelopment analysis literature,scale elasticity is evaluated in two alternative ways:using either the technical efficiency model or the cost efficiency model.This evaluation becomes problematic in several situations,for example(a)when input proportions change in the long run,(b)when inputs are heterogeneous,and(c)when firms face ex-ante price uncertainty in making their production decisions.To address these situations,a scale elasticity evaluation was performed using a value-based cost efficiency model.However,this alternative value-based scale elasticity evaluation is sensitive to the uncertainty and variability underlying input and output data.Therefore,in this study,we introduce a stochastic cost-efficiency model based on chance-constrained programming to develop a value-based measure of the scale elasticity of firms facing data uncertainty.An illustrative empirical application to the Indian banking industry comprising 71 banks for eight years(1998–2005)was made to compare inferences about their efficiency and scale properties.The key findings are as follows:First,both the deterministic model and our proposed stochastic model yield distinctly different results concerning the efficiency and scale elasticity scores at various tolerance levels of chance constraints.However,both models yield the same results at a tolerance level of 0.5,implying that the deterministic model is a special case of the stochastic model in that it reveals the same efficiency and returns to scale characterizations of banks.Second,the stochastic model generates higher efficiency scores for inefficient banks than its deterministic counterpart.Third,public banks exhibit higher efficiency than private and foreign banks.Finally,public and old private banks mostly exhibit either decreasing or constant returns to scale,whereas foreign and new private banks experience either increasing or decreasing returns to scale.Although the application of our proposed stochastic model is illustrative,it can be potentially applied to all firms in the information and distribution-intensive industry with high fixed costs,which have ample potential for reaping scale and scope benefits.

After the Euro and Interstate Banking:Present Monetary and Financial Surfacing Conflicts 2023

This paper reconsiders the outcome of the adoption of a single legal currency in the 1999 Euro Act. Installing a central bank, several different solutions surfaced among the EU members and in the global economy, since the 1922 Genoa summit. The last Euro solution came after the severe, unexpected stock market crash on October 19, 1987. Furthermore, the sub-prime bubble 2007, the financial collapse 2008 and the final 2012 the banking melt down, induce to reconsider the overlapping monetary and financial fallouts. The 89 Interstate Banking Act and the Riegle Community Development and Regulatory Improvement Act of 1994, induce a monetary and financial evolving infrastructure. This paper focuses on the conflicts at the enlarging EU community seen the unavoidable monetary and financial integration, considering that the unique definition of the monetary functions as its essence is misinterpreted, in a clear common asymmetry affecting the whole evolving situation.

After the Euro and Interstate Banking:Fall-Out Hypothesis Euro-Reconsidered 2022

This paper revises the crucial outcome of adopting a single legal currency,within the environment of a classic based competing central bank infrastructure,in an uncertain monetary category definition class,from a generally closed economy,to a competing quasi-global market,for an unbiased monetary unit alone.The fallout effects of such a system include the transfer of capitals,the unavoidable reallocation of resources,and the non-homogenous economic development in different regional areas.The recent USA Interstate Banking Act experience,after the Riegle Community Development and Regulatory Improvement Act of 1994,constitutes a valid example of some necessary frameworks when opening a new financial operating infrastructure.This new paper focuses on the special conditions in the EU community States and the necessity-pending their financial integration-of a consideration of some likely negative fallout effects,in order to implement and consolidate some effective balancing measures.Nevertheless,the role that the globalization of the economic activity plays,especially in the financial community,is endorsing a rapid integration of the technology and operating techniques,that require critical volumes of trading and rapidly adjusting enterprise dimensions and operating techniques.The latter call for some form of institutional frameworks,considering the correct definition of the monetary function and its essence,requires a clear and unique common monetary framework.

Mobile Banking and Commercial Bank Performance Nexus in Zimbabwe (2011-2021): Impact and Implications

The study investigated mobile banking and commercial banks’performance nexus in Zimbabwe for the period 2011-2021.The investigation employed a pragmatic approach and a descriptive design.Primary data as well as secondary data were used to achieve the study objectives.Questionnaires,interviews and documentary guides were used to collect primary and secondary data respectively.There were 108 questionnaires distributed to staff members and customers of 6 sampled commercial banks in Zimbabwe having mobile banking experience.The interview guide was administered to bank managers to get a deeper understanding of the topic under research and as a mitigation strategy for addressing the flaws of the questionnaires.Analysis of quantitative data utilised descriptive analysis tools,correlations analysis tools as well as regression analysis tools whereas theme analysis was used for qualitative data.SPSS version 26 was used for this purpose.The study implications established that mobile banking and commercial banks’performance nexus in Zimbabwe was significant and also enhanced mobile banking security capabilities and strengthened commercial banks’performance.The investigation concluded that mobile banking’s success in enhancing commercial banks’performance hinged on its ability to allow the user to get easier,cheaper and timely access to services.However,the study results showed that the cost of mobile banking services,government policies and intense competition inhibited the uptake of banking services.Commercial banks are recommended to continue strengthening the security of mobile banking services and to boost their uptake by bank customers in Zimbabwe.

Banking of perinatal mesenchymal stem/stromal cells for stem cellbased personalized medicine over lifetime:Matters arising

Mesenchymal stromal/stem cells(MSCs)are currently applied in regenerative medicine and tissue engineering.Numerous clinical studies have indicated that MSCs from different tissue sources can provide therapeutic benefits for patients.MSCs derived from either human adult or perinatal tissues have their own unique advantages in their medical practices.Usually,clinical studies are conducted by using of cultured MSCs after thawing or short-term cryopreserved-then-thawed MSCs prior to administration for the treatment of a wide range of diseases and medical disorders.Currently,cryogenically banking perinatal MSCs for potential personalized medicine for later use in lifetime has raised growing interest in China as well as in many other countries.Meanwhile,this has led to questions regarding the availability,stability,consistency,multipotency,and therapeutic efficiency of the potential perinatal MSC-derived therapeutic products after longterm cryostorage.This opinion review does not minimize any therapeutic benefit of perinatal MSCs in many diseases after short-term cryopreservation.This article mainly describes what is known about banking perinatal MSCs in China and,importantly,it is to recognize the limitation and uncertainty of the perinatal MSCs stored in cryobanks for stem cell medical treatments in whole life.This article also provides several recommendations for banking of perinatal MSCs for potentially future personalized medicine,albeit it is impossible to anticipate whether the donor will benefit from banked MSCs during her/his lifetime.

经济政策不确定性、经济金融化与企业影子银行

经济政策不确定性对企业影子银行的影响是否一成不变?考虑到2008年后快速发展的经济金融化,本文基于2000—2019年中国沪深A股上市非金融企业的财务数据对此进行实证检验。结果表明:第一,经济过度金融化形成前,经济政策不确定性上升会抑制企业影子银行;经济过度金融化形成后,经济政策不确定性会促进企业影子银行。这种阶段性差异形成的原因在于经济过度金融化造成了企业影子银行与实体经营活动之间关系的转变,并主要通过运营资产传导。第二,经济金融化程度具有正向调节作用,其强化了经济政策不确定性对企业影子银行的差异性影响。第三,经济过度金融化形成后,具备融资优势或处于经营弱势的企业更易从事影子银行活动,且两者对于企业影子银行的扩张效应具有叠加影响。本文对于从根本上解决影子银行风险问题有一定的政策启示。

渭北黄土台塬区水库水下岸坡稳定形态预测模型研究

黄土地区水库塌岸预测仍以卡丘金法等经验图解法为主,此类方法预测结果的准确性取决于对岸坡剖面形态的准确描述。为了提高黄土地区水库塌岸宽度预测的准确性,选取渭北黄土台塬区选择典型水库进行现场调查,对原河道岸坡形态与蓄水后岸坡形态进行对比分析,在此基础上建立了水下岸坡形态预测模型。结果表明,渭北黄土台塬区水库岸坡塌岸稳定后,水上岸坡呈直立状,高度可达30 m以上,水下岸坡呈曲线形,受水深和岸坡高度共同影响,塌落物可能露出水面。在此基础上基于对数螺线方程建立了水下岸坡形态预测模型,并与经典图解法所用直线型岸坡进行对比,误差分析结果表明采用对数螺线方程进行水下岸坡形态预测时堆积体积误差为4.50%~39.70%,均值为12.64%,而直线型岸坡的预测误差为25.75%~124.69%,均值为75.69%。即采用对数螺线方程可以更好的测水下岸坡形态及水下堆积量。相关研究成果对黄土台塬区水库塌岸预测方法的改进,以及黄河流域的渭北黄土台塬区的环境保护与高质量发展具有实际意义。

噬菌体药物开发及质控研究进展

噬菌体治疗作为抗生素治疗细菌感染的替代方法之一,近年来受到越来越多科学家们的关注,该法主要用于针对由耐药菌及多重耐药菌(Multi-drug resistant,MDR)引起的公共卫生安全问题。如今,噬菌体在农业和兽医治疗方面及其在西方国家用于人类治疗方面越来越受到重视,过去几十年西方世界进行了许多临床试验和治疗探索,并且国外某些授权药店正在销售人用噬菌体药物。但噬菌体用于人类治疗时仍然存在一些问题,如噬菌体的高度特异性限制了其应用范围和噬菌体制剂管理法规不完善使得其不能进行规模化生产等。本文结合我国现行药典关于生物制品生产、制备及质量控制要求和欧洲药品管理局(The European Medicines Agency,EMA)近年来以噬菌体治疗药物批准途径的探索为参照,着重对噬菌体库构建与控制、噬菌体制备与质控和临床前测试等进行分析。

朝鲜政府的五次币制改革及启示

朝鲜的币制改革一直是世界关注的焦点,系统了解和把握其历次改革的动因与进程以及实施结果十分重要。1946年,朝鲜设立国立中央银行构建了独立发行主权货币的自主银行体系,并且相继进行了五次币制改革,即1947年、1959年、1979年、1992年、2009年的币制改革,带来了商品价格、价格标准以及社会货币流通量等的较大变化。不过,每次所处的时代背景和特点及政策效果是不同的,有时夯实了货币制度基础,提高了中央银行对宏观经济的掌控能力,但有时也引起了货币体系紊乱和过大价格波动,影响了国民经济稳定发展。朝鲜也正在不断总结经验,研究符合国内经济运行的新的货币制度及中央银行改革。

城市商业银行异地扩张与企业创新

基于城市商业银行异地扩张为准自然实验,通过手工整理的城市商业银行异地扩张及银企地理距离数据,并匹配1998—2013年中国工业企业数据库,使用双重差分和包括敏感性分析在内的多重稳健性检验,验证了城市商业银行异地扩张是否能促进企业创新。研究发现,城市商业银行异地扩张能够显著促进企业创新产出,并产生扩散效应,促进位于城市边界的企业创新。机制研究发现,城市商业银行异地扩张能够为企业提供更多信贷渠道并降低融资成本,但是也可能破坏当地原有的银企关系,加剧银行对成熟企业、大型企业和国有企业的信贷偏好。进一步研究发现,城市商业银行异地扩张通过促进金融科技发展,进而促进企业创新。

数字金融与商业银行审计费用

以2011—2021年中国商业银行为研究对象,探究数字金融对审计费用的影响机理与传导效应。研究发现:数字金融发展初期会增加商业银行的审计费用,当数字金融发展到一定水平后,金融科技增强带来的审计费用下降效应会超过因审计投入和审计风险提升的审计费用上升效应,进而降低商业银行的审计费用,说明数字金融与审计费用之间呈先扬后抑的倒U形关系。机制检验发现,数字金融主要通过作用于代理冲突和信息不对称导致审计风险与成本变动,最终影响审计费用。异质性分析显示,审计主体来自国内四大审计事务所时,数字金融对审计费用的非线性作用增强;审计客体是上市银行与资本充足率较高的商业银行时,数字技术能更有效地对审计费用产生非线性效应;商业银行在市场化程度和法律水平较高、数字金融监管较严的地区时,数字金融与审计费用的倒U形关系更显著。研究结论从审计费用角度丰富了数字金融经济后果研究,为商业银行实施数字化转型战略、注册会计师审计收费决策提供参考。

法定数字货币对商业银行风险承担的影响

运用支付投资组合模型和金融中介模型,分析法定数字货币发行对商业银行风险承担的影响机制,并结合中国2007—2020年344家银行的面板数据进行实证检验。研究表明,法定数字货币发行对存款的挤占会增加商业银行的风险承担水平,并通过银行放贷能力、流动性水平和银行盈利能力的中介机制发挥作用。此外,金融科技发展水平会影响法定数字货币发行对商业银行风险承担的影响强度,并且该调节效应具有门槛特征,即金融科技发展水平跨越门槛值之后,正向促进法定数字货币和银行风险承担之间关系的作用会减弱,从长期来看金融科技的积极作用不容忽视。本文研究结论对于了解法定数字货币发行相关风险敞口特征、探寻防范化解法定数字货币风险对策具有一定的政策参考价值。

培养创新创业能力的职业教育模式研究

如何更加高效地培养学生创新创业能力,探索出既不烦琐又可操作且广泛适用的职业教育模式,是现阶段各大高职院校亟须解决的重要课题。为进一步促进高职院校培养创新创业能力的职业教育模式改革与发展,对现有高职创新创业教育模式存在的弊端进行分析,提出“厚植学生创新创业观、完善高职院校创新创业教育体系、优化高职院校创新创业实践体系、建立健全创新创业能力培养评价机制”等策略,助力职业教育高质量发展,培养出理念先进、技术扎实、素养过硬的新时代复合型人才。

切根+施肥对羊草人工草地草产量及其芽库的影响

针对旱作羊草人工草地多年利用后羊草产量下降、草地生产力降低等问题,本研究以退化羊草人工草地为研究对象,设置对照(不切根、不施肥)、切根+施肥(切根+尿素、切根+磷酸二铵)处理,研究不同改良措施对羊草功能性状、种群特征、芽库数量以及内源激素的影响。结果表明:切根+尿素和切根+磷酸二铵处理对羊草的功能性状有显著影响,切根+尿素和切根+磷酸二铵处理羊草单株的茎粗、株高、叶宽和叶片数均显著高于对照;其中,切根+尿素处理下羊草茎粗、株高和叶宽最大,分别为1.67 cm、48.55 cm和0.65 cm,较对照提高了60.57%、52.77%和44.50%。切根+施肥处理提高了羊草营养枝高度、生殖枝高度、枝条数和干草产量,切根+尿素处理增幅均最大,其中,切根+尿素处理干草产量达359.00 g/m^(2),增幅达85.24%。切根+磷酸二铵处理显著增加了羊草人工草地的地下芽库数量,羊草芽库达到458个/m^(2),较对照提高129.00%。另外,切根+磷酸二铵管理措施显著提高了羊草根茎中的茉莉酸(JA)和生长素(IAA)含量,羊草根茎中的JA和IAA与芽库数量呈显著的正相关关系。综合表明,切根+施肥是退化羊草人工草地管理的有效措施。