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The article presents abstracts on organizational behavior topics which include the congruence effects of leaders' and followers' proactive personality on follower work outcomes, the stress-performance relationship within a combined stress-justice framework, and the influence of abusive supervision and organizational factors on organizational citizenship behaviors.

Paper considers the impact of cash, debt, trade credit and equity financing on firm efficiency. Paper argues that 1) cash holding negatively affects firm efficiency, 2) debt and trade credit have both positive and negative impact on efficiency, 3) debt and trade credit are more conducive to increasing efficiency than cash holding, 4) trade credit is more conducive to increasing efficiency than debt and 5) the strongest positive impact on efficiency is provided by equity financing. [ABSTRACT FROM AUTHOR]

The innovativeness in a company is part of its intellectual capital and the latter is proxied and measured by the underlying company's intangible assets. The concept "intellectual capital" contains all the knowledge and experience a company's employees have, the information and the intellectual property that are combined and create wealth for that company and can be proxied by the value of a company's intangible assets. After the 1990s the issue of intellectual property has been the focus not only of the researchers in Economics and Law, but also in Finance. Intellectual property had begun to be used as collateral in order for the firms to raise external capital in addition to the tangible assets they had already been using. Therefore, it has been considered a key element in corporate strategy and management, affecting company valuation, risk and ratings in the stock markets. This paper discusses some legal issues on intangible assets, their reporting requirements and reviews the academic literature of using intellectual property as collateral for corporate loans, that exists for the US and the UK markets. There are studies that regard the issue of using intangible assets as loan collateral as problematic for the underlying company distorting its ability to borrow needed capital funds, characterizing it as a negative mutation and there are studies that regard the issue of using intangible assets as loan collateral positively, as a financing innovation. In this paper both sides are presented in an effort to familiarize the interested parties about another source of financing in developed markets so far and in developing markets in the future. The conclusion is that banking practice, regulation and public policy have to coordinate to solve the problems and difficulties that arise from having intangibles as loan collateral. [ABSTRACT FROM AUTHOR]

Recent work has revealed that credit allocation is a key aspect of U.S. political economy. This paper offers a novel theoretical justification for why credit allocation an especially useful political tool in the U.S. Specifically, the paper argues that core qualities of credit - the fact that operates primarily as a space of social classification - gives credit a particular usefulness in a governmental context characterized by a high level of institutional conflict and political fragmentation. To make this case, the paper opens with a discussion of allocative credit as part of American economic and social policy, and then explains how credit's classificatory nature gives a kind of fiscal, budgetary, and ideological flexibility, which together I characterize as a kind of political lightness. The paper next discusses the fractured U.S. political context in which that lightness of credit has proven especially useful. It closes with a discussion of the special ramifications of this political lightness for racial inequality. [ABSTRACT FROM AUTHOR]

This study investigates an inventory model considering the effect of smart and connected product. The advanced development of technology, such as the Internet of Things (IoT), has transformed traditional physical products into smart and connected products equipped with sensors, artificial intelligence (AI), and information technology. This transformation adds new product capabilities, including the ability to monitor surroundings, product functions control, and performance enhancement based on the level of technology embedded in the product. In this study, a manufacturer produces a smart and connected product, where demand increase as the selling price decreases and the number of sensors embedded in the product increases. Moreover, in practice, the manufacturer often receives a permissible delay in payment, also called trade credit, from the supplier while also offering it to the customer to attract more sales. Hence, this paper aims to determine the optimal selling price, the number of embedded sensors, and lot size in a single product to maximize the manufacturer's profit under the upstream and downstream trade credit. An economic production quantity (EPQ) model is developed and the conditions of the optimal solution are derived. A numerical example is solved to illustrate the theoretical results and solution approach. [ABSTRACT FROM AUTHOR]

This paper reports the preliminary results of an empirical investigation into access to finance and the financing preferences decisions of small and medium sized enterprises from Indian Punjab. This exploratory study examines data gathered through in-depth, face to face interviews, using semi-structured questionnaires amongst 122 matched SMEs located in Indian Punjab. Findings suggest the capital structure of SMEs in Indian Punjab is primarily influenced by aversion to external control and propensity to take risk. We also found that owners/managers showed a preference for more user friendly financing options, which operated on the element of trust and allowed them to remain in full control of their businesses. However with better networking ties generally SMEs owner/managers can access adequate external resources through informal channels. The financing preferences of owner/managers in the sample have been influenced by their perception of the relative strength and weaknesses of domestic finance infrastructures. The results of this research study are indicative of SME owner/managers' financing needs, attitudes and perceptions. Nevertheless this paper fulfils an identified need for studying how SMEs in emerging economies make the financing decisions necessary to expand and grow. Economies which provide sufficient financing support to SMEs generally enjoy a higher standard of living than the societies which don't. Thus the policymakers should be aware of how financing preferences and decisions made by SME owner/managers impact on the development of SMEs when developing mechanisms to support them. [ABSTRACT FROM AUTHOR]

The contribution of foreign banks to the development of the financial sectors in emerging markets, and especially the transition economies of Central and Eastern Europe, is well-known. The purpose of this paper is to focus on an area of foreign bank influence that has thus far been missing from the extant literature: the effect of foreign banks on the broader business environment in transition. In addition to improving financial intermediation and broader access to credit, has the presence of foreign financial institutions helped to shape a better business environment in the long-run? Or did foreign banks retard local institutional development and thus worsen the overall business environment? Using cointegration techniques across a sample of 21 transition countries from 2000 to 2012, we find that foreign bank entry had a positive impact mainly on trade costs and time to start a business. The policy implications are that business environments can be improved by facilitating foreign bank entry rather than restricting it. [ABSTRACT FROM AUTHOR]

In the times of an economic downturn, people usually begin to search for alternative business models, which could help them to sustain the crisis. The paper argues that barter transactions could prove to be useful in the case of lack of liquidity. But the barter in its historical form, requiring the double coincidence of wants, would be most likely rather cumbersome to apply in today's day and age. Computer-facilitated barter exchanges allow overcoming this burden using an alternative exchange media - trade credits. This way no cash is needed, while the transaction can be asynchronous. Of course, distribution costs may limit the extent of barter transaction. On the other hand, people do not tend to save trade credits as fiercely as cash. Therefore, promotion of barter trade may lead to a greater exchange of goods and services. Moreover, if it gets properly measured, in may also increase GDP. [ABSTRACT FROM AUTHOR]

This paper examines divergent approaches to and definitions of Social Capital, drawing on the experiences of development projects the author observed during over a year of participant observation in the Dominican Republic. Neither the "norms" approach to social capital espoused by Robert Putnam nor the "networks" approach put forward by economic sociologists Mark Granovetter and Alejandro Portes adequately explained the diverse outcomes of microfinance arrangements in the Dominican villages studied. Whether individuals met their obligations to microloan funds or rotating credit associations seemed to depend more on the meanings that these institutions had for them than their community's generalized norms about such obligations or the networks in which they were embedded. The author proposes an extension of social capital theory to include cultural embeddedness, examining the social meaning of credit and debt, along the lines of Viviana Zelizer's work. This paper is part of an ongoing project to study the symbolic and cultural elements of microfinance arrangements. [ABSTRACT FROM AUTHOR]

This paper examines the role of globalization, as a world-historic process, in the expansion of international household consumption. Part I shows how the structural tendencies of the Neoliberal trade regime produces underconsumptionist trends that led to increasing consumption in the developed countries while reducing wages and effective demand for exports in developing countries. Clealry, the US can not maintain its long-term share of global consumption due to its low savings rate, massive public sector indebtedness, and falling corporate taxes. The key question concerns how future growth in global exports will be absorbed at the systemic level. What is the debt capacity of Western developed countries like the US and how long can they sustain massive levels of foreign imports? The third section examines how US structural economic change, together with banking deregulation, produced an enormously successful mass marketing campaign in the late 1990s that dramatically altered American attitudes and behaviors toward consumer credit and debt. The paper then proceeds to examine how the EU is responding to surplus capacity problems and low levels of household indebtedness. If the US model is adapted to the continent, it can be expected that credit card market penetration will continue to soar and average consumer debt will continue to rise. The final section examines the profound shift in Asia following banking deregulation and the aggressive expansion of global banks such as Citibank and HSBC. The central issue is whether the primary threat to the Neoliberal trade regime is continued industry ?protectionism? or cultural resistance to Western attitudes toward credit and debt. [ABSTRACT FROM AUTHOR]

This paper discusses the differences between the roles of trust and control within organizational settings. It focuses on situations where organizations use both control and trust in dealing with people at the same time. My three examples - the Nucor Corporation, the Orpheus orchestra, and the credit industry - show that although organizations in general are more powerful than people, some organizations are also working hard on creating trustworthy relationships with people in situation where they could have simply exercised their control. I call this type of trust relationships a top-down trust. The major purpose of this paper is to see how organizations balance the strategy of top-down trust with the strategy of relying on control in their relationships with people. I claim that in order to be efficient, organizations cannot solely rely on either one of these two managerial strategies alone. They have to use a combination of trust and control. In general, this paper discusses the benefits of trust compared to control, explains why organizations do not base their relationships with people solely on trust, and starts the discussion of conditions under which organizations are more likely to control and when they are more likely to trust people. [ABSTRACT FROM AUTHOR]

The Global Financial Crisis (GFC) of 2008 had a dramatic impact worldwide and resulted in numerous firms failing and increased unemployment levels. While there have been many studies conducted which focus on trade credit as an external form of finance for firms during the GFC, there has not been a study based on Australian firms uptake of trade credit when examined in conjunction with European firms uptake during the same period. Therefore, as a result of the identified gap in the existing research the following paper seeks to examine the effect that the GFC and global bank lending constraints had on Australian firms' uptake of trade credit during this period of time. Expanding on this theme, an analysis of whether Australian firms acted in a manner consistent to their European counterparts will be carried out. Furthermore, the paper examines the 10 years following the GFC and what effect trade credit had as a form of external finance during Australia's post-GFC recovery. The research is governed by a positivist design whereby the role of the project team is restricted to the collection and analysis of secondary panel datasets to measure trends over the timeframe of the research. The research datasets consist of Australian firm Days Sales Outstanding (DSO), Bank Loans written to Australian firms and listed firms on the Australian Stock Exchange balance sheet data. The results of the research have found that there was a marked increase in Australian firms' uptake of trade credit finance during the GFC period. Interestingly, external bank finance uptake by Australian firms during the same period remained consistent with no reduction of its uptake by Australian firms which is at odds with a global reduction in the access to bank finance. While Australia is geographically distant from Europe the increased reliance on trade credit by Australian firms during the GFC is consistent with the results of studies carried previously. The 10 years following the GFC saw a reduction in Australian firms' reliance on trade credit as a form of external finance coupled with an increasing uptake of bank finance which suggests of a substitutional relationship between the two forms of external finance available to firms. The implications of the following research resides with the fact that during times of financial crisis Australia is not immune and while there is currently limited research into the role that trade credit has had as a form of external finance for Australian firms, the findings from previous European studies can be applied to Australia with similar results. [ABSTRACT FROM AUTHOR]

Using a unique corporate loans dataset for entrepreneurs with small and microenterprises, this paper examines how educational attainment affects bank credit decisions and subsequent individual and firm outcomes. Our results highlight a "Matthew Effect," where an initial advantage is self-amplifying. We find that entrepreneurs who obtain university education are more likely to apply for credit, and receive higher credit scores, and better lending terms. Via this credit channel, such entrepreneurs have significantly better future firm outcomes compared to those without a university education. Furthermore, we find a key role for investments in innovation, intangible assets, and lower within-firm pay inequality. [ABSTRACT FROM AUTHOR]

Business entities represent one of the main and an inseparable part of economy in each country. On a daily basis these entities face to problems that influence their structure, results and business activity too. In addition to that, new business entities have to face to problems associated with the starting of a new business itself, especially with funding for first months. The most important step in a life of a new business entity is to getting a startup funding. This paper focuses on an identification of structure of business environment in Slovakia with a focus on business start-ups (broken down according to several criteria). Mainly funding options of this business phase are discussed and analyzed - their own funds and borrowed funds in the amount of contributions for selfemployment which is granted by the state. During the monitored period we can see the increase in number of business entities. Most preferred business area were construction and trade. We cannot clearly concluded that own funds are more or less preferred and that a banking entity is more cost-effective as a non-banking entity. Always it depends on installment, interest rate, maturity or annual percentage rate of charge (APRC). [ABSTRACT FROM AUTHOR]

The investment decision-making and loan policies belong among the top responsibilities of current managerial practice. The proper implementation of investment policies is vital for future existence of any company. Such investments concern also the technical equipment of companies of which the financing is a top priority issue for both theory and practice. The mining companies are no exception to this rule. What are their investment policies, how do production companies pay for their technical equipment? These are the questions, which this paper tries to face and answer, concerning especially extraction and processing of minerals for building industries. It is the objective of this paper to provide for clear picture of companies operating in the field of construction material provision in the Czech Republic; and to find out what are their leasing and outsourcing policies implemented, in particular, as regards financing of their production equipment. A questionnaire method of investigation was applied for the purpose. As many companies as possible were addressed by an electronic form that implied both explicit and implicit questions. The form was structured into two parts. The first part comprised of identification data that would classify the companies as regards their specific mineral extracted. This part further took into account whether the company is a domestic one or operates from abroad, and what are their export policies if any. The second part of the questionnaire form concentrated on specific questions. The companies were asked how they pay for the production equipment concerning four basic processes (excavation, loading, transportation, processing), and what method of financing they prefer. The investigation has established that the companies most usually cover their production equipment expenditure by their own financial resources. In contrast to this, leasing is a less popular form of financing the matter, especially due to higher prices of the leasing companies. [ABSTRACT FROM AUTHOR]

The paper reviews the sociological literature on money and banking in the context of China's recent effort to rejuvenate its state-owned commercial banks. The study specifically addresses the question, Why Chinese state banks do not lend to more successful private enterprises and medium/small sized businesses? Using ethnographical methods, the author examined a regional state bank's internal work procedure, social networks, and the bank's relationship with local government and firms, in order to present alternative explanations to those found in the economic and finance literatures. The author found that local high level managers, relationship managers, and supporting personnel in regional state-owned banks find themselves in a web of political considerations, personal connections, and institutional goal-meeting pressure. The paper updates with the findings about the recent transformation within Chinese commercial banks. [ABSTRACT FROM AUTHOR]

In the United States, credit is supplied by a mixed-economy of lending institutions operating within distinct regulatory and organizational environments. In the course of business, creditors of all types create many forms of networks, partnerships, and other relationships with other creditors. They form these links in response to a number of organizational, market, and regulatory imperatives and incentives. In this paper, I discuss the growing significance of coordination between banks and community and economic development creditors. One consequence of such coordination is that community and economic development organizations are experiencing multiple forms of isomorphism towards bankers? practices and attitudes. I found this shift in three major areas of these organizations: organizational mission, professionalization of staff, and loan processing. One of the potential consequences of the convergence of lending practices is the creation of local lending markets that become increasingly like pipelines from nonprofit lending programs to conventional banks. In such a pipeline, banks are setting the standards and then reaping the benefits, all with very little organizational effort. The down side is that failure on the part of borrowers to ?pass? through the nonprofit lending programs means failure in all the local conventional lending options. [ABSTRACT FROM AUTHOR]

This paper describes the current state of the credit card market in China, including the types of cards available, scope of usage, institutional support, as well as the social, economic and political environment influencing the credit card market in attempt to understand how credit-issuing decisions are made. The literature on emerging credit card markets suggests that without requisite institutions such as credit bureaus, credit rating agencies, laws, etc., credit card issuing decisions are likely to be based upon trust--trust in one's network of friends and/or the networks of trusted others -- rather than rational calculation (credit scoring). One might expect that in China -- long known for its strong reliance on social networks of all types, both to accomplish everyday tasks and crucial lifecycle rituals -- the use of social networks in credit card issuing decisions would be quite common. However, evidence provided here shows that this is not the case: despite the absence of key institutions which make rational calculation possible in other countries, credit officers in Chinese banks prefer to avoid issuing credit altogether, rely on numeric rating systems, and/or actually do use calculative methods of credit scoring. [ABSTRACT FROM AUTHOR]

In this paper a single buyer, single supplier inventory model with time quadratic and stock dependent demand for a finite planning horizon has been studied. Single deteriorating item which suffers shortage, with partial backlogging and some lost sales is considered. Model is divided into two scenarios, one with non permissible delay in payment and other with permissible delay in payment. Latter is called, centralized system, where supplier offers trade credit to retailer. In the centralized system cost saving is shared amongst the two. The objective is to study the difference in minimum costs borne by retailer and supplier, under two scenarios including the above mentioned parameters. To obtain optimal solution of the problem the model is solved analytically. Numerical example and a comparative study are then discussed supported by sensitivity analysis of each parameter. [ABSTRACT FROM AUTHOR]

An abstract of the research paper "Local Lending, a Way Forward to SMEs' Credit Access? An Italian Perspective" by Laura Deflorio is presented.

The financial security enforcement is one of the key tasks of management of noncredit organization credit portfolio. The searching for effective solutions of this problem is really important in conditions of high variability of external and internal environment. The purpose of this paper is working out a concept of ensuring financial safety of the non credit organization credit portfolio, development of assessment methodology and credit risk management. Analytical, dialectical, and abstract-logical methods of scientific knowledge were used in conducting this study. It is offered to estimate the level of threats of credit portfolio financial security by peer review. It is suggested to credit portfolio financial security quantitative evaluated by indicator value. Indicators are considered as threshold values of indicators corresponding to a certain level of credit portfolio financial security. Scientific justification of the identified problems, development of theory and the methodology was based on principles of the system approach. [ABSTRACT FROM AUTHOR]

Copyright of Proceedings on Quality is the property of University of Zenica, Faculty of Mechanical Engineering and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Proceedings on Quality is the property of University of Zenica, Faculty of Mechanical Engineering and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Recent evidence shows that that over 60% of private investment contracts have been canceled due to the lack of private co-financing. Basically, a large part of the EU funds for agricultural development cannot be accessed due to the current poor access to finance of (small and medium-size) farmers. Several factors, such as guarantees of up to 150% of the loan value, low profitability, or high default risk that hinder the sector's access to the credit market, should be mitigated by state intervention. Such a measure can be included in the 2014-2020 RDP, consistent with the European Commission's recommendation to include financial instruments for supporting access to finance for farmers and agricultural associations. The analysis presented in this paper builds on the solutions proposed in a previous CRPE report focusing on microcredit, based on the existing mechanisms of the state. Firstly, it aims to support OUG 43/2013 by establishing: (1) a fund for middle-size farms for investment of up to 300,000 Euro, significantly lower than the previous ceiling of 3 mil. Euro and (2) a microcredit fund (max. 25,000 Euro), both measures coupled with an interest rate subsidy facility. Ultimately, the aim is to reduce the interest rate that farmers are facing by at least 4 percentage points. Secondly, we propose extending and improving the instruments designed for bearing part of the risk burden, through (1) a state aid scheme for reducing the cost of the guarantees for projects undertaken by young farmers and start-ups, and (2) providing 100% guarantee for young farmers that access RDP funds for agricultural investment. [ABSTRACT FROM AUTHOR]

SMEs have made important contributions to China's economic growth, but the financing is extremely difficult to become a bottleneck restricting the development of SMEs. In this paper, the financing difficulties of SMEs have internal and external reasons, the information platform for building SME financing, not only for banks and other financial sectors to provide indirect financing for reference, but also for private institutions, fund organizations, trade associations to provide direct financing for SMEs. Broaden financing channels for SMEs and reduce SME financing costs. Furthermore, reduce the operating costs of small and medium enterprises, improve the competitiveness of SMEs. Finally, the author put forward some proposals of corresponding support system. [ABSTRACT FROM PUBLISHER]

The purpose of this paper is to carry out a detailed analysis of the demand of credit and financial services in the rural areas of Albania. The basis of this analysis is an in-depth study of actual credit demand in rural areas in Albania. The demand survey conducted in January-February 2018 consists of direct interviews using a structured questionnaire with a sample of 250 rural economies located in several different villages. The main objective of this study is to understand the factor that have affected the demand of financial needs of small agricultural producers. To evaluate the factor that have affected the demand for credit, we have applied Probit models (Login Multinomial and Tobit). [ABSTRACT FROM AUTHOR]

This paper evaluates the impact of indebtedness on pro-social behavior. Specifically, I examine differences in pro-social behavior by the instance of indebtedness. I then evaluate how both the amount and type of debt an individual carries influences his or her involvement in voluntary organizations and their political participation. To test the assumption that presence, amount, and type of debt impact pro-social behavior, I use the 2006 wave of the National Longitudinal Survey of Youth 1997. I use Ordinary Least Squares regression techniques to find that debt holding does significantly influence the likelihood that individuals will join voluntary organizations or be politically active. Consumer debt decreases the number of voluntary organizations that an individual belongs to and decreases their political involvement both through the presence of debt and by the amount of debt an individual carries. Carrying investment debt, however, has an inconsistent negative relationship with pro-social behavior. The amount of investment debt an individual carries actually increases their pro-social behavior and can negate the overall negative impact of debt holding. I show that consumer debt works to disengage individuals from civic responsibility while investment debt works to engage individuals in civic responsibility. Understanding how different forms of credit impact social processes, I argue, will strengthen our overall understanding of how growing credit use will impact stratification in American society. [ABSTRACT FROM AUTHOR]

With the development of Community and Economic Development (CED) loan programs and the exponential growth of the fringe lending industry, the financial marketplace offers wider access to credit than ever before. However, this wide access is accompanied by normative disciplining of potential borrowers toward mainstream standards of creditworthiness. Lenders reward, punish, and shape borrowers' behavior in exchange for credit. This paper discusses the disciplinary strategies lenders employ and their implications for the borrowing public. In particular, I focus on the role that CED lenders play in the disciplining of people with troubled credit histories. In the contemporary credit system, borrowers who do not conform to notions of creditworthiness according to the standards of the formal economy are typically required to participate in "credit repair" and "financial literacy" training programs. This disciplining appears rational since it is designed to integrate borrowers into the formal economy and hence improve their life chances. The danger of such a system, though, is that those borrowers who fail, even after credit repair and financial literacy training, to conform to conventional standards of creditworthiness are left with few credit alternatives and confined to the very costly fringe banking market. ..PAT.-Unpublished Manuscript [ABSTRACT FROM AUTHOR]

The Uniform Small Loan Law (USLL) allowed specially-licensed lenders to charge much higher interest rates than those allowed by most state usury laws. In return, small-loan brokers had to adhere to strict standards of transparency. The USLL was the Russell Sage Foundation's primary device to combat the problem of high-rate lending to poor people in the first half of the twentieth century. The Foundation drafted successive versions of the law and fought for its passage in state legislatures. About two-thirds of the states had passed the USLL when the Foundation ended this effort in the 1940s. This paper describes the USLL and reports econometric models of which states passed the USLL and when. We find that the demographic and political factors that occupied much of the Foundation's own discussion played little role. Measures of state economic structure as well as the presence of credit unions and banks, on the other hand, are powerful correlates of the state's passage. There is no evidence of spatial dependence across states in the law's passage. ..PAT.-Unpublished Manuscript [ABSTRACT FROM AUTHOR]

Empirical investigation of corporate failures has considered the effects of macroeconomic conditions and financial healthiness, but there is limited evidence about the real effects of bank shocks caused by the sovereign debt crisis. Using a rich source of high-quality firm-bank matched data over the period 2005-14, this paper examines the real effects of various bank shocks on firms' survival prospects in Portugal. We first present evidence that a funding outflow is associated with a reduction in credit supply. We further show that firms borrowing from banks that were exposed to the funding outflow are more likely to fail. In addition, when we distinguish firms according to different firm-specific criteria, we uncover significant firm heterogeneity. Specifically, we document that firms that have drowned down their lines of credit, younger firms and those of high risk exhibit a higher sensitivity of firm failure to bank shocks compared to their counterparts. Finally, we consider alternative channels of transmission of shocks from the financial to the real sector such as the banks' exposure on sovereign debt and the deleveraging of the financial sector. [ABSTRACT FROM AUTHOR]

Aviation network switch is the key of Aviation network. The point of Aviation network research is ensuring the correctness of Aviation network switch design. The simulation system of Aviation network switch this paper realizes can simulate the real communication of Aviation network. It can find the design blemish of prototype system early and availably, which shorten development period greatly. Aiming at the characteristic of high real-time of Aviation network switch, this paper researches the setting of credit number of Aviation network switch. It provides reference data to balance the conflict of resource usage and throughput. [ABSTRACT FROM PUBLISHER]

The article focuses on investigating the role of traditional bank credit cards in fostering inclusion of low-income consumers within the marketplace. Topics include exploring financial inclusion, analyzing credit card usage patterns, and assessing the impact of credit on the well-being and consumption behaviors of individuals with limited income.

An open source learning management system (LMS) and course authoring tool, edX has been set up as a not-for-profit enterprise and its primary backing has come from MIT and Harvard. EdX is testing out diverse proposals to improving its set of courses and producing returns, offering paid-for services for students who are employing the platform as a distribution mechanism for their own courses, and is providing a suite of charged-for services to its collaborators. EdX furnishes its university partners a selection of two cooperation patterns. The first (the "university self-service model") fundamentally enables an involved institution to utilize edX's platform as a free learningmanagement arrangement for a course if portion of any returns brought about by the course proceed to edX. The second (the "edX-supported model") assigns the institution in the function of consultant and design collaborator, providing "production assistance" to universities for their Massive Open Online Courses (MOOCs). EdX does not charge for the certificates that productive learners obtain for passing the supervised exams. This paper analyzes the edX's approach of doubling down on producing higher quality, customized and virtually supervised learning experiences that can be provided for credit to assimilators on a route towards a degree. With more 90 partner entities, $60 million as capital and over than 6 million learners, to supply credit edX should establish quality learning settings that satisfy the demands of various learners, and are accepted as valid by organizations and employers (the edX courseware should alter from a content distribution platform into a thorough learning experience). [ABSTRACT FROM AUTHOR]

The main purpose of this paper is to understand the mechanisms involved in bank lending activity and the effects that this activity has on profitability and business companies. One of the main sources of funding of their work for Romanian companies is the bank lending. Lending is based on the viability of business plans and the debtors' ability to generate revenue, respectively liquidity as the main collateral and source of repayment of loans and payment of interest, commitment to shareholders, management experience and financial stability company. Increasing of the role of major national banks, caused mainly corporate development and financing environment state and the living standards of Romanian benefiting from banking services. However, the European core reforms in recent years has changed substantially all the activities of the banks active in Romania and partnerships with customers and stakeholders and increased both their strategic ability and professionalism. [ABSTRACT FROM AUTHOR]

Identifying determinants of financial vulnerabilities is an important question in the economic literature and in policy circles. While many works have studied this issue in the case of developed and emerging economies, the literature focusing on low-income countries is scarce, insofar as the risks they face are lower than in high and middle income economies. However, a better understanding of financial fragility mechanisms in LICs is crucial. First, financial vulnerability does exist. The experience of lowincome countries shows that they could suffer sharp increases in non-performing loans and banking crises. Second, the cost of banking crises is high and particularly long-lasting in LICs. Indeed, in low-income countries, confidence in the banking system is weak and a banking crisis may permanently hinder the development of banking services demand (see for instance the CEMAC and WAEMU experiences after eighties and early nineties banking crises). Third, financial vulnerability will grow in the next decades. The current dynamics of financial development in many LICs will, in parallel with its beneficial effects on access to financial services, increase the risk of financial instability, unless financial regulation is progressively adapted to this evolution. In this paper, we study the determinants of financial vulnerabilities in LIC. Financial vulnerability is measured by annual change of the ratio of non-performing loans to loans, for a sample of 87 developing countries including 25 low-income countries. Indeed, the main risk of financial vulnerability is a rapid growth of non-performing loans (NPL), without an adequate increase in financial provisions for loan losses. The end of the NPL episode may be either a banking crisis (including bankruptcies and/or a restructuration of the banking system, or "only" a phase of write off of bad loans and a recapitalization of banks having suffered significant losses. In both cases, is frequently observed a credit fall after the NPL cycle. Our econometric results show that credit growth is the main driver of financial vulnerability but its effect is mitigated by the presence of credit information sharing. This mitigation effect also exists in low-income countries, even if the credit growth direct effect is smaller. Sub-Saharan African countries do not significantly differ from other developing economies. These results are robust to alternative measures of financial vulnerabilities. Our results, although preliminary, have several policy implications. First, a particular attention should be paid to the NPL variations. Second, the credit growth is a key variable to conduct macroprudential policies in low and middle-income countries. Third, current efforts to develop information sharing schemes should be strengthened, since the latter allow a credit expansion without excessive increase in the overall credit risk. These results also suggest that the use of credit by sector may provide additional information on the relevant indicators to conduct macro-prudential policies. Early information on the rise of financial vulnerability might be extracted from the sectoral credit growth rate20 or sector concentrations of loans. [ABSTRACT FROM AUTHOR]

This paper estimates the gap between the rating information disclosed by sellers and the information sought by buyers, using evidence from U.S. corporate credit ratings. While seller willingness to pay for an additional rating is highly concentrated among a subset of relatively high-quality, lower-risk firms, buyers demonstrate more uniform interest in additional ratings for firms at all quality levels. This finding highlights a gap in information disclosure among high-risk firms that is not a major focus of existing regulation. [ABSTRACT FROM AUTHOR]

During the 1840s a new system of private-sector surveillance emerged in the United States that rivaled any such system then operated by nation-states in Europe or North America. This system, the commercial credit reporting agency, or “mercantile agency,” brought thousands of American citizens—merchants, traders, manufacturers, and artisans—into a massive network of social monitoring designed to facilitate safe business relationships in a world increasingly inhabited by strangers. The history of contemporary surveillance technologies, especially in the U.S., would be incomplete without drawing closer attention to its development. This is the case for several reasons. First, the mercantile agency is a direct descendant of the modern consumer credit bureau, an institution that functions with remarkable autonomy and influence in contemporary American society. Second, as purveyors of information commodities, nineteenth-century credit reporting agencies struggled with issues of information control and dissemination that, upon reflection, appear quite modern. These struggles also involved privacy debates that are relevant in light of more recent concerns over computerized consumer surveillance. And finally, this networked system of centralized information processing, which might be viewed as a type of proto-database, was instrumental in transforming embodied social relationships into textualized and increasingly abstract and impersonal data profiles. ..PAT.-Conference Proceeding [ABSTRACT FROM AUTHOR]

Credit ratings offer systematic, quantifiable measures of risk which allow economic actors to assess the creditworthiness and trustworthiness of debtors and trading partners. Use of credit ratings is now spreading around the globe but they originated in the U.S. during the 19th-century. Using a logistic regression analysis of data from a sample of 247 Chicago dry goods firms from 1879, we examine how well credit ratings could predict undesirable outcomes like failure, insolvency and bankruptcy. Records from R.G. Dun & Co. allow us to link proprietary credit information with published credit ratings, and to determine how the latter were set. Results from logistic regression analysis suggest that published ratings were unreliable and variably useful predictors of failure. In addition, the possession by credit raters of information that could not be quantified, or was not quantified, also proved to be a predictor of failure. We speculate on alternative (non-predictive) uses of credit rating information that may help explain its spread. ..PAT.-Unpublished Manuscript [ABSTRACT FROM AUTHOR]

The article presents a study which explores the factors responsible for the growth of consumer credit market in Russia. An evolutionary approach has been used to study the process of consumer credit reporting. Credit bureaus came into existence as an important element in the presidential housing program. The popularity of credit cards also increased when Russian banks provided several card products on debit terms. It has been estimated that the total consumer debt is just 3% of the GDP, which is less in comparison to the U.S. (75%) or even East European markets.

The articles presents information on the relation between consumer credit and society. There has been an increase in consumer credit in the 1990's. In transition economies, banks are the main providers of consumer credit. Purchase credits, mortgage loans, credit cards, and auto loans are advertised in all cities, and the number of people applying for them is increasing. Lending and borrowing play an important role in social life. Credit redistributes resources and power of people, which results in a change in social relationships, and a creation of personal obligations. Modern credit doesn't include these personal obligations related to credit. In the U.S., modern consumer credit revolution began in the 1920's.

The article discusses how social and economic factors amend decision of an individual. Axelrod's seminal research has been used extensively for the purpose. An individual does not want to confine himself to his personal network. On the contrary he willingly wants to be in enlarged social group. Several models have been discussed in this respect. The research on the topic aim at exploring the relationship between social capital and economic development. The discussion is of sociological import because it examines those factors which forces social capital takes turn in two different situations.

This study examines whether the number and geographic distribution of local offices maintained by a financial institution and the frequency of interaction between commercial bankers and the owners of local firms have different effects on business lending in urban markets than in their suburban counterparts. Based on an analysis of survey data from four US metropolitan areas, the results indicate that branch offices play a more important role in initiating relationships between banks and small to medium-sized firms in urban areas than in suburban markets. In addition, face-to-face contact between local firm owners and bank executives is an important predictor of borrowing in urban markets, but less so their suburban counterparts. These results suggest that increasing dominance of commercial credit markets by large, geographically diversified banks will tend to exacerbate barriers to capital access faced by small firms based in central cities. [ABSTRACT FROM AUTHOR]

The article examines issues on the different attitudes of men and women concerning money and credit in the context of young college students communicating with their parents about their financial situation. The influence of financial attitudes on family communication is investigated. It also provides an insight into sex differences in the interaction between parents and young adults regarding financial matters.

Recent studies of fringe banking focus on the emergence of a two-tiered credit system, one for the wealthy and one for the poor. When middle and upper-class individuals have a financial emergency, are short on cash, or are looking to make a major purchase, they often use traditional forms of credit: bank-issued credit cards, department-store and gas-station credit cards, checking and savings accounts. Not everyone, however, has access to traditional credit; those without may turn to fringe industries, including pawn shops, check-cashing outlets, payday loan agencies, rent-to-own centers, secondhand dealers, tax-rebate discounters, loan-brokers, credit-repair companies, and high-interest automobile and mortgage lenders. The financial ramifications of using fringe credit can be disastrous. While the interest on a credit card ranges from 0 percent to perhaps 30 percent Annual Percentage Rate (APR), fringe banks charge interest fees that range from 120 percent to 1500 percent APR. The poor pay more. However, fringe credit companies are no longer the ?poor man?s banks? of yesteryear. Looking to maximize profits by reducing the stigma associated with pawnbroking,, the industry has transformed itself. Many of today?s pawn shops are sparkling clean, well lit, and offer McService with a smile. An increasing number are chain stores or franchise operations that are owned by major corporations. Pawn shops are expanding out of the ghettos and into the suburbs. Do these changes indicate that pawnbrokers are targeting a higher class of client? If so, have these efforts been successful? [ABSTRACT FROM AUTHOR]

The Imperialist Credit Culture/International Credit Consortium (ICC) has taken root and in hidden in the imperfections of the once powerful capitalist economic system. The ICC, while avoiding any risk of association for the ?Moral Hazard? exercise control, unnoticed, from behind a vale of international cooperation (World Trade Organization - WTO) where the responsibilities for those countries populations are only the responsibility of their domestic governments; use these periphery and simi- periphery as labor/commodity sources. The Consumer market of the United States, part of the core economy, is now based upon consumption value and not labor value of the individuals in this market place ? serves only as a source of credit value and neither of capital nor production at any level. ?Creditism? has replaced not only the economic systems of the past but also is the driving force behind consumerism, debt accumulation, and pop-culture. For control over all aspects of society is the affect of a culture/pop-culture under the control of the I.C.C.. Also, due to this alien cultural control - normal operation and development of society has been halted ? restricting world cultural development. This model ?Creditism? does not invalidate past soc-economic, world-systems works, but rather includes them as valid and true expressions and observations from the perception (cultural experiences and knowledge) of each theorist; This enables a new all-inclusive social commentary to be constructed, in which all parts of the world society, world economy, and world culture are included. [ABSTRACT FROM AUTHOR]

In the past 30 years income generation programs have been established in Nepal to benefit poor women. Their underlying philosophy is that access to credit and its investment in entrepreneurial activities will help strengthen women’s position in the family and society. The purpose of this research is to explore participants’ perceptions of these programs and how they influence their lives. The study was performed in Ilam district, in far east Nepal, with two women’s savings and credit cooperative groups. Using in-depth interviewing and participant observation, data was collected among 20 female participants and 14 family members. Participants appreciated the programs as sources of money to pay for daily expenses; as forums to develop social networks with other village women; and for the exposure they provide to wider society. However, no women or men related that the programs led to changes in gender relations, while some said access to the groups was constrained by factors related to gender and class structure. The programs’ outcomes can be considered small positive achievements that can contribute to the process of empowerment, but to expect income generation programs to penetrate established social structures and enable radical changes in male-female relationships, at least in the short term, is to overestimate their capabilities. [ABSTRACT FROM AUTHOR]

Financial behavior is how individuals or households actually behave in a determination of financial behavior. How individuals or households make decisions about their financial behavior. Financial system stability The financial system is one of the macro components that affects the stability of a country's economic financial system. This study is to see the effect of individual / household financial behavior on the stability of the financial system of 33 provinces in Indonesia during 2013 to 2019. The data for this research is secondary data collected from several sources, namely the Bank Indonesia Statistics Bulletin, the Central Agency Regional Economic Studies Bulletin. Statistics in various editions of the year of publication. The method used to analyze the data is the Panel Data Regression method using the Eviews 10 analysis tool. The purpose of this study is to determine the magnitude of the influence of financial behavior on the stability of the financial system in Indonesia. The variables in financial behavior are the dimensions of financial financial inclusion as measured by the access dimension, namely the ratio of the number of bank offices to 100,000 population in 33 provinces, the dimensions of use, namely the number of MSME loans to the total amount of credit in each province, savings and the percentage of poor people in 33 provinces in Indonesia. Financial system stability is measured from the GRDP growth rate in 33 provinces in Indonesia. The findings of this study are that access, use, savings, and poverty are able to explain the GRDP as seen from the R-Square value of 0.92, which means that all independent variables are able to explain the dependent variable while 8% is explained by variables outside the model. When people are able to access UMKM credit available at formal financial institutions, it will increase the GRDP, this can be seen from the MSME credit value increasing by 1%, the PDRB will increase by 0.02%. The relationship between the percentage of poor people and the GRDP also shows a significant relationship where if poverty is reduced by 1%, then GRDP will increase by 9.5%. [ABSTRACT FROM AUTHOR]

Though the term is widely used by social scientists, theory and research on social capital has an ad-hoc quality, i.e., social relationships "matter" but it is unclear which aspects of relationships matter for what types of outcomes. I use research on social networks and social control norms to examine how, when and why members of micro-credit borrowing groups use social control to create social capital. Using unique ethnographic, survey and loan data from approximately 100 borrowing groups operating in the U.S., I examine the conditions under which group members use social relationships in micro-credit borrowing groups. I find that peers do engage in actively screening fellow members before approving them as borrowers, though not always effectively. Moreover, different aspects of social relationships lead to social control, which provides members with adequate social capital to increase their financial capital through micro-credit. [ABSTRACT FROM AUTHOR]

In this work we study some characteristics of sigmoidal growth functions that are solutions to dynamical systems induced by reaction networks. The studied dynamical systems are close to the Gompertzian and logistic type growth models. Apart from the growing species, the considered reaction networks involve additional decaying species interpreted as environmental resource(s). Using reaction network theory approach, we formulate several modifications/generalizations of the classic logistic Verhulst model, borrowing ideas from the reaction network formulation of the Gompertz model. Our study of the monotonicity order-preservation properties of the model solutions is supported by numerical computations and graphical visualizations. We also attempt a classification of the reaction networks inducing growth-decay models based on the types of the elementary reactions incorporated in these networks. [ABSTRACT FROM AUTHOR]