In the 1980s Latin American countries ran into debt crisis. Heavy debt has been the shade that cannot be waved all the time. Commercial banks' expansionist thrnst into Latin America made these countries go deeply int...In the 1980s Latin American countries ran into debt crisis. Heavy debt has been the shade that cannot be waved all the time. Commercial banks' expansionist thrnst into Latin America made these countries go deeply into the debt crisis. International Monetary Fund played an indispensable role in resolving the crisis. It might temporarily steady the financial situation of an area, but it was difficult to stem the enormous economical loopholes of these countries and couldn't solve the basic problems of economy, politics and society. It was unable to make the countries pass the crisis substantially.展开更多
This study exploressimilarities and differences between American and Chinese colleges' crisis communication strategies.Italso examines how American and Chinese colleges use social media in crisis communication.The...This study exploressimilarities and differences between American and Chinese colleges' crisis communication strategies.Italso examines how American and Chinese colleges use social media in crisis communication.The in-depth interviews focus on the com-parison of the crisis communication strategies in both American and Chinese universities.展开更多
This paper aims to reveal the mechanism of Collateralized Debt Obligations (CDOs) and how CDOs extend the current global financial crisis. We first introduce the concept of CDOs and give a brief account of the de-velo...This paper aims to reveal the mechanism of Collateralized Debt Obligations (CDOs) and how CDOs extend the current global financial crisis. We first introduce the concept of CDOs and give a brief account of the de-velopment of CDOs. We then explicate the mechanism of CDOs within a concrete example with mortgage deals and we outline the evolution of the current financial crisis. Based on our overview of pricing CDOs in various existing random models, we propose an idea of modeling the random phenomenon with the feature of heavy tail dependence for possible implements towards a new random modeling for CDOs.展开更多
In this study, we aim to determine public savings’ structural location in the analysis of effect levels that are related to public borrowing requirement to cope with the deviation of financial balances, especially af...In this study, we aim to determine public savings’ structural location in the analysis of effect levels that are related to public borrowing requirement to cope with the deviation of financial balances, especially after 2009 global crisis in Turkey. Public savings as a financial option take up an important place in the scope of expressed government budget balances related to public borrowing requirements which are increasingly located together with budget deficits. This fact especially is pertaining to investments and capital’s transfers that are subject to the public decision making process towards economic growth in the future in developing countries like Turkey. Therefore, increasing public savings’ limits appear on these countries as an inevitable financial phenomenon concerning the desired investments. Turkey, as a developing country, has faced two financial phenomenons that increase borrowing requirement terms that lead to intend financial balances that have generally deviated after 2009 financial crisis. Firstly, it’s increasing foreign debt burden and the public savings’ levels that have not been enough to cover all the proportion of foreign debt payments since 2009. Secondly, the effect level of global crisis on the exchange rates directly causes the deviation of national currency values as a meaningful important negative impact on budget balances that are aimed at together with the macroeconomic financial balances.展开更多
Since the foundation of the Euro zone, unbalanced economic development has existed among member states, and was a major cause of the debt crisis, posing various challenges to the EU. In response, the EU has realized t...Since the foundation of the Euro zone, unbalanced economic development has existed among member states, and was a major cause of the debt crisis, posing various challenges to the EU. In response, the EU has realized the problem. Financial reforms, fiscal reforms and related system reforms are being implemented so as to establish a relatively perfect single currency zone and solve the issue of the unbalanced economic development. However, at present, due to imperfections in theory of the single currency zone and due to political, economic as well as social situations in Europe, there are challenges in the reform of the Euro zone.展开更多
As the Eurozone celebrated its decade of existence in 2011, few could have predicted that the ever-deepening financial crisis would emerge. The fear with the Eurozone crisis is that with major bail outs projected and ...As the Eurozone celebrated its decade of existence in 2011, few could have predicted that the ever-deepening financial crisis would emerge. The fear with the Eurozone crisis is that with major bail outs projected and government austerity expects to affect the economy in negative terms, the economies in the Portugal, Italy, Ireland, Greece, and Spain (PIIGS) states will decline and consumption will decrease. Being the largest trading partner of European Union (EU), China's export is therefore anticipated to decline. In lesser ways, the Australian economy was also expected to feel some economic pain. The aim of this paper is to ascertain what level of economic impact the Eurozone crisis would have on both China and Australia, given that few nations in the world can aspire to remain unaffected.展开更多
This case study presents the dilemma faced by a French university with Christian identity regarding a students’request to officially approve a club for the LGBTQ+community:which would be the most prudent response con...This case study presents the dilemma faced by a French university with Christian identity regarding a students’request to officially approve a club for the LGBTQ+community:which would be the most prudent response considering all matters involved?The case is disguised:it combines elements taken from very similar cases impacting today more than a few Catholic universities around the globe.Part A describes this university:history,principles and values,academic and financial information,relations with its stakeholders,etc.This part also describes its religious context and some relevant statistics regarding the LGTBQ+community.Finally,a series of opinions regarding the issue and how to answer the students’request presented in the form of an open discussion at the university’s steering committee provides different arguments in favor or against the approval.Part B offers some guidelines useful to take a prudent response considering all matters involved:legal,ethical,governance,and communicative.These guidelines are divided in three chapters:what should be the framework for such a discussion,strategic recommendations,and practical suggestions.Their aim is to provide a sort of a blueprint for university heads and administrators,to design a tailor-made response fitting the identity and stakeholders’map of their own university.展开更多
The work investigates the use of trade credit in Italy for reasons of a financial nature. The analysis considers Italian small and medium-sized enterprises (SMEs) and investigates, over the years of 2009-2011: the ...The work investigates the use of trade credit in Italy for reasons of a financial nature. The analysis considers Italian small and medium-sized enterprises (SMEs) and investigates, over the years of 2009-2011: the existence of functional relationships between the incidence of trade receivables and payables and corporate profitability; the existence of interdependencies between trade credit policy and trade debt policy; and the coexistence of interchangeable and complementary conditions between trade debts and bank loans and other sources of funding. To verify the research hypotheses, linear regression models on a yearly basis are used and these models are put under observation over the years of 2009-2011. We can conclude that there are interdependencies between trade credit policy and trade debt policy and that trade credit is a source of flexible way of financing, also available in periods of crisis, which has a positive effect on the profitability of SMEs and can be utilized as a complementary and substitute source of financing to bank loans.展开更多
The global economic turmoil from 2008 inflicted permanent damage to EU economies and its impact is still strong. To address the problems and cope with the crisis, governments were forced to conduct anti-cyclical polic...The global economic turmoil from 2008 inflicted permanent damage to EU economies and its impact is still strong. To address the problems and cope with the crisis, governments were forced to conduct anti-cyclical policies in different forms. In most countries, this resulted in a widening budget deficit and mounting government debt. Then, a raft of measures to deal with fiscal instability followed, which, however, restricted growth and had high economic and social costs. Bulgaria was among the EU Member States that turned fiscal discipline into a priority and was one of the few to manage, at least seemingly, to achieve satisfying results. The benefits that the country reaped are indisputable but the price it had to pay was too high. Many private sector companies faced insolvency, unemployment hit record highs, and important structural reforms were delayed.展开更多
Through the comparison of the sovereign debt risks of the two economies,this paper focuses on the analyses of the risk formation path and the fiscal sustainability at the macroeconomic level.Due to the differences in ...Through the comparison of the sovereign debt risks of the two economies,this paper focuses on the analyses of the risk formation path and the fiscal sustainability at the macroeconomic level.Due to the differences in the external resources and coping measures that affect the risk formation of the two economies,as well as the differences in the institutional roots that lead to the rise of debt risks,the impact mechanism of sovereign debt risks is also different.Finally,theoretical and policy implications are given.展开更多
文摘In the 1980s Latin American countries ran into debt crisis. Heavy debt has been the shade that cannot be waved all the time. Commercial banks' expansionist thrnst into Latin America made these countries go deeply into the debt crisis. International Monetary Fund played an indispensable role in resolving the crisis. It might temporarily steady the financial situation of an area, but it was difficult to stem the enormous economical loopholes of these countries and couldn't solve the basic problems of economy, politics and society. It was unable to make the countries pass the crisis substantially.
文摘This study exploressimilarities and differences between American and Chinese colleges' crisis communication strategies.Italso examines how American and Chinese colleges use social media in crisis communication.The in-depth interviews focus on the com-parison of the crisis communication strategies in both American and Chinese universities.
文摘This paper aims to reveal the mechanism of Collateralized Debt Obligations (CDOs) and how CDOs extend the current global financial crisis. We first introduce the concept of CDOs and give a brief account of the de-velopment of CDOs. We then explicate the mechanism of CDOs within a concrete example with mortgage deals and we outline the evolution of the current financial crisis. Based on our overview of pricing CDOs in various existing random models, we propose an idea of modeling the random phenomenon with the feature of heavy tail dependence for possible implements towards a new random modeling for CDOs.
文摘In this study, we aim to determine public savings’ structural location in the analysis of effect levels that are related to public borrowing requirement to cope with the deviation of financial balances, especially after 2009 global crisis in Turkey. Public savings as a financial option take up an important place in the scope of expressed government budget balances related to public borrowing requirements which are increasingly located together with budget deficits. This fact especially is pertaining to investments and capital’s transfers that are subject to the public decision making process towards economic growth in the future in developing countries like Turkey. Therefore, increasing public savings’ limits appear on these countries as an inevitable financial phenomenon concerning the desired investments. Turkey, as a developing country, has faced two financial phenomenons that increase borrowing requirement terms that lead to intend financial balances that have generally deviated after 2009 financial crisis. Firstly, it’s increasing foreign debt burden and the public savings’ levels that have not been enough to cover all the proportion of foreign debt payments since 2009. Secondly, the effect level of global crisis on the exchange rates directly causes the deviation of national currency values as a meaningful important negative impact on budget balances that are aimed at together with the macroeconomic financial balances.
文摘Since the foundation of the Euro zone, unbalanced economic development has existed among member states, and was a major cause of the debt crisis, posing various challenges to the EU. In response, the EU has realized the problem. Financial reforms, fiscal reforms and related system reforms are being implemented so as to establish a relatively perfect single currency zone and solve the issue of the unbalanced economic development. However, at present, due to imperfections in theory of the single currency zone and due to political, economic as well as social situations in Europe, there are challenges in the reform of the Euro zone.
文摘As the Eurozone celebrated its decade of existence in 2011, few could have predicted that the ever-deepening financial crisis would emerge. The fear with the Eurozone crisis is that with major bail outs projected and government austerity expects to affect the economy in negative terms, the economies in the Portugal, Italy, Ireland, Greece, and Spain (PIIGS) states will decline and consumption will decrease. Being the largest trading partner of European Union (EU), China's export is therefore anticipated to decline. In lesser ways, the Australian economy was also expected to feel some economic pain. The aim of this paper is to ascertain what level of economic impact the Eurozone crisis would have on both China and Australia, given that few nations in the world can aspire to remain unaffected.
文摘This case study presents the dilemma faced by a French university with Christian identity regarding a students’request to officially approve a club for the LGBTQ+community:which would be the most prudent response considering all matters involved?The case is disguised:it combines elements taken from very similar cases impacting today more than a few Catholic universities around the globe.Part A describes this university:history,principles and values,academic and financial information,relations with its stakeholders,etc.This part also describes its religious context and some relevant statistics regarding the LGTBQ+community.Finally,a series of opinions regarding the issue and how to answer the students’request presented in the form of an open discussion at the university’s steering committee provides different arguments in favor or against the approval.Part B offers some guidelines useful to take a prudent response considering all matters involved:legal,ethical,governance,and communicative.These guidelines are divided in three chapters:what should be the framework for such a discussion,strategic recommendations,and practical suggestions.Their aim is to provide a sort of a blueprint for university heads and administrators,to design a tailor-made response fitting the identity and stakeholders’map of their own university.
文摘The work investigates the use of trade credit in Italy for reasons of a financial nature. The analysis considers Italian small and medium-sized enterprises (SMEs) and investigates, over the years of 2009-2011: the existence of functional relationships between the incidence of trade receivables and payables and corporate profitability; the existence of interdependencies between trade credit policy and trade debt policy; and the coexistence of interchangeable and complementary conditions between trade debts and bank loans and other sources of funding. To verify the research hypotheses, linear regression models on a yearly basis are used and these models are put under observation over the years of 2009-2011. We can conclude that there are interdependencies between trade credit policy and trade debt policy and that trade credit is a source of flexible way of financing, also available in periods of crisis, which has a positive effect on the profitability of SMEs and can be utilized as a complementary and substitute source of financing to bank loans.
文摘The global economic turmoil from 2008 inflicted permanent damage to EU economies and its impact is still strong. To address the problems and cope with the crisis, governments were forced to conduct anti-cyclical policies in different forms. In most countries, this resulted in a widening budget deficit and mounting government debt. Then, a raft of measures to deal with fiscal instability followed, which, however, restricted growth and had high economic and social costs. Bulgaria was among the EU Member States that turned fiscal discipline into a priority and was one of the few to manage, at least seemingly, to achieve satisfying results. The benefits that the country reaped are indisputable but the price it had to pay was too high. Many private sector companies faced insolvency, unemployment hit record highs, and important structural reforms were delayed.
文摘Through the comparison of the sovereign debt risks of the two economies,this paper focuses on the analyses of the risk formation path and the fiscal sustainability at the macroeconomic level.Due to the differences in the external resources and coping measures that affect the risk formation of the two economies,as well as the differences in the institutional roots that lead to the rise of debt risks,the impact mechanism of sovereign debt risks is also different.Finally,theoretical and policy implications are given.