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This study presents a psycholinguistic approach to the complex phenomenon of word order variation in Dutch where speakers can freely choose the position of the past participle and the auxiliary verb in bipartite final verb clusters. (1) Jeroen beweert dat Bregje de hele middag heeft geslapen. (2) Jeroen beweert dat Bregje de hele middag geslapen heeft. 'Jeroen claims that Bregje has slept all afternoon.' Previous corpus studies have shown that a range of factors associated with the variability can be related to processing complexity of the cluster's context. More specifically, it is claimed that one of the orders is the default word order that is easier to process, used in circumstances of heavy processing demands (De Sutter 2007; Bloem et al. 2017). Evidence diverges about which of the two orders is the default. In a self-paced reading experiment and a 'puzzle' production experiment conducted with 60 native speakers of Dutch, we (i) test a variety of morphosyntactic factors indicating a higher or lower processing complexity to (ii) clarify the issue of default word order. From the self-paced reading experiment it emerges that both length of the middle field before the cluster and placement of the prepositional object in extraposition have an effect on processing of the two orders. Since this effect is apparent for factors that change the structure and length of the sentence and is absent when it comes to definiteness and inheritance of preverbal constituents, it is argued that not all proposed factors are equally related to processing complexity and that there is not necessarily a default order. Furthermore, we find evidence that processing of the orders is influenced in a very different way than production. [ABSTRACT FROM AUTHOR]

The XYZ Institution/Agency, as a governmental institution, has the obligation to resolve debts resulting from financial losses. This study aims to analyze the influence of demographic, financing, and educational institution characteristics on the default of educational debt/student loan (State Compensation Claim for Breach of Service Agreement) at the XYZ Agency. To achieve this objective, the study utilizes data on debtors from 1983 to 2022 at the XYZ Agency and employs binary logistic regression analysis. The results of this study indicate that age and receivable value significantly affect the quality of the debtor's receivables. Specifically, debtors who are over 26 years old and have receivable values above IDR 200,000,000 are more likely to default. In contrast, gender and campus status do not significantly impact the default rates. These findings are expected to provide insights for the XYZ Agency in improving the management of state debts, particularly educational debts, and contribute to the development of policies related to debt management in the public sector. This study also provides a comprehensive overview of the variables influencing the default of educational debts at the XYZ Agency, with a focus on the State Compensation Claim (TGR) process at the XYZ Agency. [ABSTRACT FROM AUTHOR]

Purpose: This study aimed to verify risk assessment procedures when granting credit by a legal entity via financing in negotiations with its customers. Methodology: A documentary approach was used, emphasizing qualitative analysis, during the experimental study conducted at an XYZ organization linked to information technology. Results: They point out that the credit score and rating score, established through the evaluation stages, taking into account the company's history, documentation, guarantees, financial health, cash flow, indebtedness, corporate governance, and market prospects, enable the risk classification of their analyzed clients, ranging from AAA for the "alpha" client to D for the "beta" client. This result made it possible to deduce that credit assessment is appropriate automation in financing decisions for commercial activities, capable of promoting financial flexibility and commercial agility. Customer risk classification is therefore seen as a fundamental tool for improving XYZ's financial decisions, minimizing default risks, and guaranteeing the financial security of its commercial operations, resulting from establishing risk scores for both defaulting and non-defaulting companies. Contributions of the Study: This study makes a relevant theoretical contribution to the field of research by highlighting the importance of validating the criteria used in granting financing, as well as the contextual factors that can affect decisions. The practical contribution of analyzing a non-financial institution under the pandemic context and how they minimize their default by establishing credit analysis mechanisms provides improvements and consequently greater security as lenders. [ABSTRACT FROM AUTHOR]

In the agreement there are rights and obligations for those who carry out the agreement. Even though they already know their rights and obligations, it is not uncommon for deviations from an agreement to occur, which will certainly cause losses to one of the parties. If one party does not carry out things that are not his rights and obligations in accordance with the content of the agreement, then such negligence can cause someone to be sued before the court. The act of not carrying out the contents of the agreement in legal science is called default. The purpose of this study is to determine the default of the contract for testing oil wells antra PT. CPI with PT. SWE in Minas oil field – Riau. The type of research used in this study, the type of normative juridical research. Factors causing default in this contract may vary, including unclear specifications, unforeseen changes in field conditions, or lack of coordination between the parties involved. Default can affect smooth operations, result in financial losses, and harm the reputation of both parties. In an effort to resolve disputes, PT. CPI and PT. SWE has taken proactive measures. They may have tried direct negotiations to reach an agreement on contract changes or compensation for defaults. [ABSTRACT FROM AUTHOR]

The default mode network (DMN) lies towards the heteromodal end of the principal gradient of intrinsic connectivity, maximally separated from the sensory‐motor cortex. It supports memory‐based cognition, including the capacity to retrieve conceptual and evaluative information from sensory inputs, and to generate meaningful states internally; however, the functional organisation of DMN that can support these distinct modes of retrieval remains unclear. We used fMRI to examine whether activation within subsystems of DMN differed as a function of retrieval demands, or the type of association to be retrieved, or both. In a picture association task, participants retrieved semantic associations that were either contextual or emotional in nature. Participants were asked to avoid generating episodic associations. In the generate phase, these associations were retrieved from a novel picture, while in the switch phase, participants retrieved a new association for the same image. Semantic context and emotion trials were associated with dissociable DMN subnetworks, indicating that a key dimension of DMN organisation relates to the type of association being accessed. The frontotemporal and medial temporal DMN showed a preference for emotional and semantic contextual associations, respectively. Relative to the generate phase, the switch phase recruited clusters closer to the heteromodal apex of the principal gradient—a cortical hierarchy separating unimodal and heteromodal regions. There were no differences in this effect between association types. Instead, memory switching was associated with a distinct subnetwork associated with controlled internal cognition. These findings delineate distinct patterns of DMN recruitment for different kinds of associations yet common responses across tasks that reflect retrieval demands. [ABSTRACT FROM AUTHOR]

With the advancement of technology resulting in developments in the loan system, the emergence of Information Technology-Based Lending and Borrowing Services has become prevalent. This service is one of the financial services that brings together lenders and borrowers to engage in loan agreements using the Indonesian currency, the Rupiah, through electronic media utilizing the internet network. In conducting this service, three parties are involved: the loan recipients, lenders, and online loan service providers. However, the advent of this technology has brought about new challenges, such as the occurrence of loan defaults by borrowers, leading to online loan service providers engaging in collections that deviate from the usual collection mechanisms, resulting in losses for online loan recipients. Consequently, legal accountability from online loan service providers is necessary. The aim of this research is to analyze the legal accountability of online loan service providers regarding the losses experienced by loan recipients. The method used is normative juridical, focusing on the analysis of loan agreements and power of attorney between online loan service providers and users and collection parties. The results of this research indicate that the losses experienced by online loan recipients due to the default actions of online loan service providers include losses, fees, and interest that must be borne by the online loan service providers. The conclusion of this research is the legal accountability that online loan service providers must assume towards loan recipients regarding losses caused by default actions. [ABSTRACT FROM AUTHOR]

Home as a place to live is a basic need for humans. Increasingly high public demand for housing has forced developers to try to build various types of housing, from apartments to housing clusters on the outskirts of the city. This study aims to determine the legal responsibility of the parties in the home ownership credit agreement for the granting of mortgage rights to the parent certificate that has not been broken down and the efforts that can be made by the consumer who feels aggrieved. This type of research in legal writing is normative legal research, this research is based on primary, secondary and tertiary legal materials with interpretation and systematization of laws and regulations, as well as using the theory of legal liability, contract theory, and mortgage theory. Based on the results of the research, many consumers were harmed as a result of being indirectly given certificates to consumers even though consumers had made payments. This is because the certificate has not been divided, it is still in the form of a master certificate. The conclusion is that the parties and related officials can be held legally responsible if there is a loss to other parties who feel aggrieved. Whereas the legal responsibilities of the parties have been regulated in the clauses of the agreement, except if the agreement is violated, then the injured party can claim losses through a deliberation process (non-litigation) or court proceedings (litigation). [ABSTRACT FROM AUTHOR]

In this research, a group of charging messages for the payment of taxes was investigated. Altogether 12 variations of billing messages (social norms, simplification, disclosure, previous engagement, reminders and previous choices) were evaluated, and their effectiveness was tested. The messages were transmitted to defaulting microentrepreneurs in four Brazilian states. From a database containing information about defaulting micro entrepreneurs, 250 thousand text messages were sent making charges. The data were obtained from the Secretaria Especial da Micro e Pequena Empresa (Sempe). Tests were used to analyse the difference between means and Logistic Regression was used in sequence. The Random Forest, Logistic Regression and Naïve Bayes widgets were used to indicate the robustness of the Machine Learning predictive model. The research findings indicated that the formats "simplification", "previous choices" and "alert", employees, did not have an effect in combating default. However, when aligned with social norms, messages in the form of "past options" and "reminders" increase the payment of debts. The widgets used indicated an excellent fit to the machine learning model. The Random Forest tool attested with superiority that the model is robust and suitable for the predictive function. The results of the research provide a contribution to public policies when they present an effective action to reduce defaults in the payment of taxes. The use of messages in the social norm format can be adapted to other situations, constituting a suggestion for future research. [ABSTRACT FROM AUTHOR]

Purpose: The objective of the study is to analyze whether credit unions manage their accounting results, in order to smooth them through provision for bad debts (income smoothing), from a default perspective. Methodology: The sample reaches 938 unique cooperatives between the period from December 2010 to December 2018, with data from the Central Bank of Brazil, tested using the multiple regression statistical technique, in quarterly panels. Results: The variation in the stock of credit operations and the adjusted net income were not statistically significant in the model, however it was not possible to accept the hypothesis that credit unions use the allowance for loan losses (PPC) as a mechanism for managing results. The interest rate implicit in the result of income from credit operations was significant, and therefore related to the PPC variation, while the condition of free admission did not show statistical significance. The variation in default was significant in the model, with a negative coefficient, implying consistency with the earnings management hypothesis, since in a scenario of higher default (risk) the relationship is negative and, therefore, PPC levels are lower, avoiding potential negative results. Contributions of the Study: The results indicate the absence of earnings management by PPC in the sample and period, contributing to the discussion of the relationships between earnings management variables. This enables credit unions to reflect on their internal corporate governance structure. In addition, the evidence contributes to the progress of the literature on earnings manipulation in credit unions, for which there are few studies available and play an important role in the Brazilian market, ensuring funding flows to economic sectors not served by traditional banking institutions. [ABSTRACT FROM AUTHOR]

Purpose: This research aims to analyze whether credit unions manage their accounting results in order to smooth them through the provision for doubtful accounts (income smoothing), from a default perspective. Methodology: The sample reaches 938 unique cooperatives considering the period from December 2010 to December 2018, with data from the Central Bank of Brazil, tested using the multiple regression statistical technique, in quarterly panels. Results: The variation in the stock of credit operations and the adjusted net income were not statistically significant in the model, however it was not possible to accept the hypothesis that credit unions use the allowance for loan losses (PCLD) as a mechanism for managing results. The interest rate implicit in the result of income from credit operations was significant, and therefore related to the PCLD variation, while the condition of free admission did not show statistical significance. The variation in default was significant in the model, with a negative coefficient, implying consistency with the earnings management hypothesis, since in a scenario of higher default (risk) the relationship is negative and, therefore, PCLD levels are lower, avoiding potential negative results. Contributions of the Study: The results indicate the absence of earnings management by PCLD in the sample and period, contributing to the discussion of the relationships between earnings management variables. This enables credit unions to reflect on their internal corporate governance structure. In addition, the evidence contributes to the progress of the literature on earnings manipulation in credit unions, for which there are few studies available and play an important role in the Brazilian market, ensuring funding flows to economic sectors not served by traditional banking institutions. [ABSTRACT FROM AUTHOR]

Purpose: The objective of the study is to analyze whether credit unions manage their accounting results, in order to smooth them through provision for bad debts (income smoothing), from a default perspective. Methodology: The sample reaches 938 unique cooperatives between the period from December 2010 to December 2018, with data from the Central Bank of Brazil, tested using the multiple regression statistical technique, in quarterly panels. Results: The variation in the stock of credit operations and the adjusted net income were not statistically significant in the model, however it was not possible to accept the hypothesis that credit unions use the allowance for loan losses (PCLD) as a mechanism for managing results. The interest rate implicit in the result of income from credit operations was significant, and therefore related to the PCLD variation, while the condition of free admission did not show statistical significance. The variation in default was significant in the model, with a negative coefficient, implying consistency with the earnings management hypothesis, since in a scenario of higher default (risk) the relationship is negative and, therefore, PCLD levels are lower, avoiding potential negative results. Contributions of the Study: The results indicate the absence of earnings management by PCLD in the sample and period, contributing to the discussion of the relationships between earnings management variables. This enables credit unions to reflect on their internal corporate governance structure. In addition, the evidence contributes to the progress of the literature on earnings manipulation in credit unions, for which there are few studies available and play an important role in the Brazilian market, ensuring funding flows to economic sectors not served by traditional banking institutions. [ABSTRACT FROM AUTHOR]

In everyday life, humans cannot avoid risks, these can be health risks, loss, damage, or financial losses. Humans certainly want to minimize existing risks. One way to minimize risk is to transfer the risk to a third party using the services of an insurance company. The insurance company (insurer) will transfer the risk from the insured to the insurance company. Of course, using the services of an insurance company to transfer risk requires reciprocity from the insured in the form of premium payments. Insurance regulations in Indonesia themselves are regulated in Law Number 40 of 2014 concerning Insurance. After the agreement has occurred and an insurance policy has been made as a contract or agreement between the two parties. With the existence of an agreement, the possibility of default or broken promises will arise. The insurance defaults discussed in this research are insurance defaults carried out by insurance companies. The research method used in this research is a normative juridical approach or study of library materials. An insurance company that commits a default means that the insurance company does not carry out its obligations in accordance with what has been agreed in the insurance policy so that a default occurs and the policy holder or beneficiary can take the matter to court to get a resolution. There are several factors in the occurrence of default by insurance companies, namely external factors of insurance agents or insurance partners and internal factors of insurance companies not carrying out processes in accordance with SOPs. With SOPs from insurance companies and stricter OJK regulations, it is hoped that the level of default by insurance companies can be minimized. [ABSTRACT FROM AUTHOR]

This paper investigates a model of default in financial networks where the decision by one agent on whether or not to default impacts the incentives of other agents to escape default. Agents' payoffs are determined by the clearing mechanism introduced in the seminal contribution of Eisenberg and Noe (2001). We first show the existence of a Nash equilibrium of this default game. Furthermore, we develop an algorithm to find all Nash equilibria and guide regulatory intervention that relies on the financial network structure. The algorithm provides a ranking for the set of Nash equilibria for specific financial network structures, which can serve as a measure of systemic risk. Finally, we show that introducing a central clearing counterparty achieves the efficient equilibrium at no additional cost. [ABSTRACT FROM AUTHOR]

Background While Ghana has a good track record in the Expanded Programme on Immunization, there are substantial challenges with regards to subsequent vaccinations, particularly after the first year of life of the child. Given that the last dose of the RTS, S/AS01E vaccine against malaria is administered at 24 months, there is a high likelihood of default. Hence, it is imperative to understand the dynamics and reasons for the defaults to enable the development of effective implementation strategies. This study explored why caregivers default on the RTS, S/AS01E vaccine from the perspective of health service providers and caregivers. Methods This study employed an exploratory, descriptive approach. Using a purposive sampling technique, caregivers who defaulted and health service providers directly involved in the planning and delivery of the RTS, S/AS01E vaccine at the district level were recruited. A total of five health service providers and 30 mothers (six per FGD) participated in this study. Data analysis was done using NVivo-12 following Collaizi’s thematic framework for qualitative analysis. The study relies on the Standards for Reporting Qualitative Research. Results Reasons for defaulting included the overlap of timing of the last dose and the child starting school, disrespectful attitudes of some health service providers, concerns about adverse side effects and discomforts, travel out of the implementing district, the perception that the vaccines are too many, and lack of support from partners. Conclusion To reduce the occurrence of defaulting on the RTS, S/AS01E vaccine programme, stakeholders must reconsider the timing of the last dose of the vaccine. The schedule of the RTS, S/AS01E vaccine should be aligned with the established EPI schedule of Ghana. This will significantly limit the potential of defaults, particularly for the last dose. Also, the findings from this study underscore a need to encourage male partner involvement in the RTS, S/AS01E vaccine programme. Health promotion programmes could be implemented to raise caregivers’ awareness of potential adverse reactions and discomforts—this is necessary to prepare the caregiver for the vaccine process psychologically. [ABSTRACT FROM AUTHOR]

The definition of credit according to Law No. 10 of 1998 concerning Banking, it is stated that credit is the provision of money or bills that can be likened to it, based on an agreement or loan agreement between a bank and another party that requires the borrower to pay off its debt after a certain period of time with interest / margin, ROE is a ratio used by banks to measure the ability of banks to generate net profit. ROE can be measured by comparing profit after tax with the bank's own capital. The higher the ROE, the higher the level of profit that a bank will achieve and the less likely the bank is in trouble. If bad loans increase, the profit obtained by the bank will decrease because the bank must provide reserves to cover losses caused by bad loans Bad loans involving State-Owned Banks.usually bad loans have been attempted for collection / settlement in a family manner but are unsuccessful, the bank will submit the settlement through BUPLN, henceforth will conduct auctions / sales of collateral objects unless If the Bank has obtained a "Power of Attorney to Sell" then the Bank can sell the collateral under hand. Getting credit returns from auction results is not an easy and fast thing The effect of bad loans on banking profitability, namely because profitability reflects the bank's ability to generate profits effectively and efficiently, so that with the increase in bad or non-performing loans, the positive impact caused by credit distribution cannot occur. [ABSTRACT FROM AUTHOR]

The relationship between renting and individual is very close because it often occurs in everyday life because people are unable to live without help from other parties such as renting goods that are to other parties. Rent that often occurs in the community is renting a house or building, both for individuals and groups. In renting a house, most parties often make mistakes both on the landlord and the tenant of the house, causing disputes between both parties. The research method used is the normative juridical method, namely research that prioritizes literature data, namely research on secondary data. The secondary data can be primary, secondary or tertiary legal material. This research includes research on the Effects of Default by Tenants in Lease Agreements and Judges' Considerations in Decision Number 217/PDT/2020/PT SBY. Based on the results of the study, the author concludes that with the act of default in the rental agreement, the aggrieved party has the right to take actions to fulfill the performance that has been agreed, an agreement has an impact if the agreement is not fulfilled by one party, then the other party has the right to make legal remedies or claims. A judge's judgment on default is a judgment to enforce the law, that is, a judgment that is sometimes rendered when compensation will not be a viable legal remedy. This judgment is a court order that orders the offending party to carry out his promises with the threat of punishment for violating the court decision and an Order not to violate the agreement, namely: A judgment is a court order directed to a person not to violate his agreement. [ABSTRACT FROM AUTHOR]

Background: Pharmacist's involvement in optimizing medication adherence among diabetic patients has been implemented for over a decade. Diabetes Medication Therapy Adherence Clinic (DMTAC) was set up to educate diabetic patients, monitor treatment outcomes, and manage drug-related problems. While evidence shows that pharmacist-led DMTAC was effective in reducing HbA1c, there was limited data regarding the impact of different intervention types and default to follow-up on glycemic control. Aim: To assess the impact DMTAC on glycemic control and the difference in glycemic control between hospital and health clinic settings as well as defaulter and non-defaulter. In addition, the impact of pharmacist's interventions, DMTAC follow-up frequencies, and duration of diabetes on glycemic control were also determined. Methods: A retrospective study was conducted among diabetes patients under DMTAC care between January 2019 and June 2020 in five hospitals and 23 primary health clinics. Patients' demographics data, treatment regimens, frequencies of DMTAC visits, defaulter (absent from DMTAC visits) and types of pharmacists' intervention were retrieved from patients' medical records and electronic database. HbA1c was collected at baseline, 4–6 months (post-1), and 8–12 months (post-2). Results: We included 956 patients, of which 60% were females with a median age of 58.0 (IQR: 5.0) years. Overall, the HbA1c reduced significantly from baseline (median: 10.2, IQR: 3.0) to post-1 (median: 8.8, IQR: 2.7) and post-2 (median: 8.3, IQR: 2.6%) (p < 0.001). There were 4317 pharmacists' interventions performed, with the majority being dosage adjustment (n = 2407, 55.8%), followed by lab investigations (849, 19.7%), drugs addition (653, 15.1%), drugs discontinuation (408, 9.5%). Patients treated in hospitals received significantly more interventions than those treated in primary health clinics (p < 0.001). We observed significantly less reduction in HbA1c in DMTAC follow-up defaulters than non-defaulters after 1 year (− 1.02% vs. − 2.14%, p = 0.001). Frequencies of DMTAC visits (b: 0.19, CI: 0.079–0.302, p = 0.001), number of dosage adjustments (b: 0.83, CI: 0.015–0.151, p = 0.018) and number of additional drugs recommended (b: 0.37, CI: 0.049–0.691, p = 0.024) had positive impact on glycemic control whereas duration of diabetes (b: − 0.0302, CI: − 0.0507, − 0.007, p = 0.011) had negative impact. Conclusion : Glycemic control improved significantly and sustained up to one year among patients in pharmacists-led DMTAC. However, DMTAC defaulters experienced poorer glycemic control. Considering more frequent visits and targeted interventions by pharmacists at DMTAC resulted in improved HbA1c control, these strategies should be taken into account for future program planning. [ABSTRACT FROM AUTHOR]

“The Saudi Organizer created financial re-organization mechanism, so that the companies can avoid declaring bankruptcy, as avoiding declaring bankruptcy among commercial projects has become a new philosophy that has changed the traditional jurisprudence look upon bankruptcy, so the Saudi organizer adopted this mechanism in his new system passed by the royal decree number (M/50), and he defined it, and organized its rules which arises from being a procedure that aims at helping the debtor to reach an agreement with his creditors, in order to reorganize his financial activity under the supervision of financial re-organization secretary, and be added to the conciliation that prevents bankruptcy as a means to avoid declaration of bankruptcy. Objectives of the Research The research has several objectives, including: 1. A clarify of the position of the Saudi regulator on the means of financial reorganization as a means of avoiding the bankruptcy of projects 2. Monitoring the role of the financial reorganization mechanism in limiting the declaration of bankruptcy 3. The foundations upon which the philosophy of the Saudi commercial regulator is based in reducing the bankruptcy of projects by reporting the mechanism of financial reorganization for projects Research Methodology: As the subject of the research is to clarify the provisions for the financial reorganization of the troubled projects. Therefore, we have to adopt the analytical approach, where the researcher reviews and explains the texts related to financial reorganization, in preparation for comparing them with comparative laws such as the French and the Egyptian, and therefore we adopt the comparative approach after the analytical, and the result of this is that the research method is the comparative analytical approach. Main results: 1. The Saudi regulator introduced the financial reorganization mechanism as a means of assisting troubled companies, working in conjunction with the bankruptcy protective settlement. 2. Financial reorganization is a procedure aiming at facilitating the debtor's reaching an agreement with creditors to reorganize his financial activity. 3. There is a great deal of agreement in the procedural and substantive aspects, both the financial reorganization procedure and the bankruptcy protective settlement procedure. [ABSTRACT FROM AUTHOR]

The objective of this work is the construction of a probability credit scoring model in order to minimize the risk of default on payment of the customer portfolio, for which dependent (customer good and bad) and independent (characteristic of customer) variables were used to provide a correct analysis to determine whether or not the company grants a loan. The descriptive methodology and quantitative and qualitative approaches were applied taking as primary sources the data of the customer portfolio of the company SEGUMAR S.A. The database consists of the information of 100 people applying for a loan and is included in the measurement of 7 variables for each person. Each applicant is classified into one of two possible categories, "good customer" (70 cases) or "bad customer" (30 cases). A credit scoring rule was developed to determine whether a new applicant is a "Good" or "Bad" customer, based on the values of one or more explanatory variables resulting from the final model. This study evaluated the characteristics that customers have at the time of requesting a loan and that according to the characteristics of each customer it is possible to make predictions, classify them as a good customer or a bad customer. In the results obtained from the Logit model it can be concluded that the selected variables that were applied in the model gave us a 76% success rate that allows us to classify each of our customers as a good customer or bad customer in our model. [ABSTRACT FROM AUTHOR]

Leasing is an agreement between a party and another party who binds himself to give the other party the enjoyment of an item for a certain time with payment according to the price the party can afford to pay. In this case, the parties to the lease agreement also have rights and obligations, as for what is the right of the renting party is to receive a predetermined rental price. While in Article 1550 paragraph (1) of the Civil Code, the obligation for the renting party in the lease agreement is to deliver the leased goods to the tenant. The lessee is entitled to pand beslag, which is a confiscation carried out by the court at the request of the lessee such as land and buildings that stand on it in the event that the lessee is in arrears with the rent and does not pay in full the rent arrears. A lessee also has the right to request the cancellation of the agreement by providing compensation if the lessee commits an act of default or breaks the agreement before the end of the agreement. [ABSTRACT FROM AUTHOR]

This study investigates the relation between the types of collateral offered in rural loans in Brazil and the access to credit, loan conditions and default rates. We use a proprietary database of rural loans from one of the largest private banks in Brazil containing more than 110 thousand loan observations. Our results show that the use of fiduciary lien improves the access to loans for more opaque borrowers (i.e., those with shorter relationship with the bank). This type of collateral gives the bank the ability to seize collateral quicker, reducing loss given default, even if these borrowers are riskier, given that they present higher default rates on average. Our results also show that loan conditions are less restrictive as relationship length increases, and that this effect is more intense among loans collateralized by fiduciary lien. [ABSTRACT FROM AUTHOR]

Trust and reciprocity promote cooperation and are key elements of a successful social life. This study investigated the framing effects on trust and reciprocity behaviors. Using an iterated one-shot within-subjects design, this study explored how trust and reciprocity decisions changed when the game was framed in terms of a give (i.e., using a standard trust game with a default of no trust) and a take (e.g., using a distrust game with a default of full trust) frame. Participants of both genders first completed the scenario version of the game (Session 1), and then played the roles of trustors (Session 2) and trustees (Session 3) with human and computer-mediated human partners either in the give or take frame. Our results showed increased trust in the give than in the take frame, but only pronounced in direct interaction with human (vs. indirect computer-mediated) partners. Participants also showed higher expectations of return in the give than in the take frame. The actual reciprocity was higher in the give than in the take frame when interacting both with human and computer-mediated human partners. The results contribute to our understanding of the factors that shape trust and reciprocity and emphasize the impact of framing the default. [ABSTRACT FROM AUTHOR]

We analyze the effects of being ineligible for mortgage payment relief by examining the aftermath of the Home Affordable Refinance Program (HARP). Using a comparable sample of borrowers with publicly (Freddie Mac) and privately (Bbx) securitized loans we compare loan performance and quantify potential wealth, consumption, and credit consequences for prime borrowers whose loans were placed in private securitization pools and who were thus ineligible for a government relief program. We show that restricting program benefits to include only borrowers in federally backed mortgage pools results in significant loss in wealth (through reduced prepayment and increased default) for those otherwise similar borrowers whose loans are placed outside of GSE pools. The greatest detriment is documented in CBSAs with the largest housing price declines. The results shed light on the potential consequences of an identical provision in the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) which provides mortgage forbearance relief to qualifying borrowers, whose loans are placed in a government backed mortgage pool. [ABSTRACT FROM AUTHOR]

Roll rates and net flow rates can be seen as the evolution of ageing of accounts receivable and Markov chains. They are accepted methodologies to model the behavior of non-performing consumer loans by buckets and to predict losses, but we find that quite often they are wrongly used as interchangeable concepts, although roll rates track individual accounts across buckets in consecutive months and net flow rates just compare consecutive buckets in consecutive months. We determine their matrices of transition probabilities and analyze them in both stationary and steady-state conditions. Net flow rates have many advantages over roll rates, but a quite important finding for financial institutions and supervisors is that historical flow rates are not conservative for forecasting: when the level of new delinquencies soars, contemporary flow rates will tend to be lower than they would be in steady-state conditions, creating a feeling of false confidence and leading to the underestimation of future losses. [ABSTRACT FROM AUTHOR]

It is well known that self-reported financial information differs from administrative records. This article advances previous studies by using a unique matched representative sample of individual borrowers from the Chilean Household Finance Survey with administrative banking loan records. Our linked dataset allows us to test whether the differences between the two sources are due to the number of nonreported loans or to differences in the reported loan amounts. We show that discrepancies in debt ownership are larger when respondents have a mortgage and are not the highest income member of the family, when respondents have weak financial literacy and do not have confidence in the study, and when respondents live in complex or multigenerational households. However, borrowers report the maturity of their mortgage and installment loans quite accurately. Concerning loan amounts, differences between the two sources decrease with the financial literacy of the respondent. Finally, a simple form of rounding can go a long way towards explaining differences in the middle part of the debt amount and maturity distributions. [ABSTRACT FROM AUTHOR]

Previous studies show that spending money on others makes people happier than spending it on themselves. The present study tested and extended this idea by examining the role of active versus passive choice and default choices. Here, 788 participants played and won money in a game, from which some of the earnings could be donated to charity. Participants were randomized to five conditions (control, passive or active choice, default to self or charity). Three measures of subjective well-being (SWB) were used. The results show that people who donated money were happier than people who kept money for themselves, and that active choices elicited significantly more negative affects than passive choices. Also, more people chose to keep the money when this was the default. Last, the greatest effect on happiness was to change from the set default. The results are in line with previous findings in positive psychology and decision making. [ABSTRACT FROM AUTHOR]

Global population ageing underscores the imperative of ageism and dementia-ism in the heath care setting as there is both anecdotal and published evidence that older persons are liable to receive less than optimum evidence-based treatments on account of their age and apparent frailty. This article explores the reasons for this phenomenon and limitations of current approaches of clinical decision making. We propose a framework to guide decision making to optimize care, with a paradigm shift in redefining a default toward clinical practice guideline–recommended treatments, guided by evidence-based medicine within an ethical means-end proportionality framework, and regularly reviewed advance care plans and goals of care conversations to secure the best interests of older persons. [ABSTRACT FROM AUTHOR]

Background: India is reporting the highest number of tuberculosis (TB) cases worldwide. The health belief model has proved beneficial to understand health-related behaviors among patients with TB. We explored the reasons and solutions for non-adherence to the treatment of TB using the constructs of the health belief model. Methods: We conducted in-depth interviews among patients who were reported 'lost to follow up' (LFU) and among the service providers under the national TB program in the Patan district based on the constructs of the health belief model – perceived susceptibility, perceived severity, perceived benefits, and perceived barriers. All the interviews were audio-recorded and transcripts were analyzed using thematic analysis. Results: The analysis resulted in nine major reasons for LFU which were explained under the health belief model constructs. Perceived susceptibility was reflected by lack of support from health workers, losing faith in government, and dependence on alcohol. Negative counseling by quacks explained perceived severity, while improvement in symptoms corroborated with the perceived benefits. Side effects to anti-TB drugs, high pill burden, stigma, and financial constraints were the perceived barriers reported by the patients. Conclusions: The health belief model explains treatment non-adherence behavior among patients with tuberculosis in India. To eliminate TB, program managers in India need to design a comprehensive intervention model to counsel the patients on the benefits of completing treatment, generate awareness to dispel the myths surrounding the disease, and instill confidence through regular visits by health workers. Primary care physicians should try incorporating counselling of patients with TB in their routine care to reduce LFU. [ABSTRACT FROM AUTHOR]

Introduction: To reduce pollution from motorized private cars, a modal shift toward more sustainable modes, such as public transport, is desired. A first step to achieving this is the subscription to a public transport ticket. It was investigated if an extended version of the theory of planned behavior is suited to predict subscription to a public transport ticket, and if environmental concern—the channel through which many sustainable transport modes are advertised—plays a significant role. It was further examined if nudging serves as an effective measure in convincing employees to subscribe to the offered ticket. Nudges encourage desired behaviors by changing the information set that individuals face when taking decisions; in this paper, this includes favorable defaults and the manipulation of the social norm. Since nudges lack a coherent theory, it was tested if these nudges can be integrated into the aforementioned theory. Method: By means of an online experiment, participants (N = 373) were randomly assigned to different nudging conditions or a control condition. The questionnaire mimicked a working contract, including the decision for or against a subscription to the ticket. Results: Results of structural equation modeling revealed that the theory predicted the purchase decision well, yet the impact of environmental concern was surprisingly low. Most tickets were purchased in the default condition, but no nudge reached statistical significance. Discussion and Conclusion: The limitations of nudging in the transport sector are discussed, along with the effectiveness of advertising public transport through an environmental lens. [ABSTRACT FROM AUTHOR]

Research background: SMEs face financial constraints in their development, which limits their access to external funds, tightens their investment possibilities, and limits their growth. Much research effort has been devoted to understanding the nature and sources of this phenomenon. In sharp contrast to this, very little has been said about the role of these factors in explaining the default probability of these types of enterprises. Understanding such interrelationships could help to adopt policies to alleviate the situation of constrained SMEs and lower their default rates. Purpose of the article: This study analyses the role of financial constraint factors in SME defaults. This is done by utilising the financial constraint factors in a newly derived default prediction model. A comparison of the derived model and other SME default prediction models is carried out to assess the potential of financial constraints in the discrimination power of the model. Methods: In this study, we use the Cox semiparametric model, while leaving the baseline hazard rate unspecified and employing macroeconomic variables as explanatory variables. The discrimination power was addressed in terms of the area under the curve (AUC), resulting in out-ofsample testing. The DeLong test was used to compare the AUC of the created and analysed models. The model was estimated on a set of over 213,731 SMEs from 28 counties, covering the period 2014-2019. Findings & value added: It was found that adopting the financial constraint measures can explain the default of small and medium enterprises with high accuracy; however, they do not explain the default of micro enterprises. [ABSTRACT FROM AUTHOR]

This study aims to analyze in-depth the fraud based on Article 1328 of the Civil Code on the agreement that can result in default, as well as to examine the legal consequences of the agreement containing elements of fraud based on Article 1328 of the Civil Code, fraud can be canceled or null and void. The research method used in this research is normative research on the rule of law contained in Article 1328 of the Civil Code. The data used in this study is secondary data. The secondary data used in this study consists of primary legal materials that are authoritative which means they have authority, secondary legal materials, and tertiary legal materials. The results of this study indicate that fraud based on Article 1328 of the Civil Code in the Agreement does not result in Default. Because default and fraud in civil law have different elements. Default is regulated in Article 1243 of the Civil Code, while fraud in civil law is regulated in 1328 of the Civil Code. The consequences of an agreement containing an element of fraud can be canceled or null and void by law. The condition for canceling the agreement is that the agreement to be canceled must be reciprocal, namely an agreement that gives rights and obligations to both parties, cancellation is carried out through the court so that the cancellation of the agreement is through a judge's decision, and there must be a default. An agreement can be canceled as stipulated in article 1321 of the Civil Code, while an agreement that has prohibited things causes the agreement to be null and void, based on Article 1254 of the Civil Code. [ABSTRACT FROM AUTHOR]

Objectives: The objectives of the study were to describe outcomes of children with uncomplicated severe acute malnutrition (SAM) attending community-based management of acute malnutrition (CMAM) treatment centres in Accra Metropolitan Area (AMA) and explore factors associated with non-adherence to clinic visits and defaulting from the treatment programme.Design: A retrospective cohort study analysing routinely collected data on children with uncomplicated SAM enrolled into CMAM in 2017 was conducted.Setting: Study was conducted at seven sites comprising Princess Marie Louise Children's Hospital, three sub-metropolitan health facilities and three community centres, located in five sub-metropolitan areas in AMA.Participants: Children with uncomplicated SAM aged 6-59 months, enrolled from community-level facilities (pure uncomplicated SAM, PUSAM) or transferred after completing inpatient care (post-stabilisation uncomplicated SAM, PSSAM), participated in the study.Results: Out of 174 cases studied (105 PUSAM, sixty-nine PSSAM), 56·3 % defaulted, 34·5 % recovered and 8·6 % were not cured by 16 weeks. No deaths were recorded. Mid-upper arm circumference (MUAC) increased by 2·2 (95 % CI 1·8, 2·5) mm/week with full compliance and 0·9 (95 % CI 0·6, 1·2) mm/week with more than two missed visits. In breast-feeding children, MUAC increased at a slower rate than in other children by 1·3 (95 % CI 1·0, 1·5) mm/week. Independent predictors of subsequent missed visits were diarrhoea and fever, while children with MUAC < 110 mm on enrolment were at increased risk of defaulting.Conclusion: A high default rate and a long time to recovery are challenges for CMAM in AMA. Efforts must be made to improve adherence to treatment to improve outcomes. [ABSTRACT FROM AUTHOR]

We propose an extension of the incomplete markets general equilibrium model with production to situations in which firms can default (bankruptcy). In the model, firms are owned by a single individual whose roles as entrepreneur and consumer are anonymous. Assets are exogenously collateralised and are seized together with future output in case of default. Default is thus endogenous as output determines the deliveries from the assets issued. In turn, the receipts from each asset purchased are assumed to depend on a fraction of the firm's output. This fraction is anonymous and is treated as given by individuals who will anticipate it, in equilibrium, as a proportion of aggregate output, generating counter-cyclical default. We show that, in this context, the financial policies of the firm are, in general, not irrelevant. We establish the existence of equilibria and discuss the nature of the inefficiencies introduced by the presence of bankruptcy. • We introduce bankruptcy in the General Equilibrium incomplete markets model with production with pro-cyclical default. • We prove existence of equilibrium. • We show that two key theorems of corporate finance do not hold in this context. [ABSTRACT FROM AUTHOR]

How decision makers respond to behavioral and traditional interventions might depend on their and the regulator's attributes. This online experiment investigates the effect of defaults, recommendations, and mandatory minimum contributions accompanied by regulator information on the private provision of climate protection, accounting for intrinsic motivation. Findings show that all interventions increase the propensity of individuals to choose the focal value. There is no evidence that recommendations and defaults change average contributions. We report a negative interaction of the default with intrinsic motivation. Expert or political regulator information decreases intervention effectiveness. The study improves our understanding of behavioral public policy instruments. [ABSTRACT FROM AUTHOR]

Nudges have become increasingly popular among policymakers as a tool to stimulate desirable behavior for individuals or society. One of the most prevailing assumptions of nudges is that they make use of automatic processing. Yet, this assumption has received little attention in experimental research. In two preregistered and high powered studies, we investigated this hypothesized working mechanism by using a nudge that has most typically been described as a Type 1 nudge: defaults. In both studies, we used a scenario in which participants could choose from a list of green amenities, which were either preselected (opt-out condition) or not (opt-in condition). In Study 1, we investigated the effectiveness of this default nudge under Type 1 processing by manipulating cognitive load. In Study 2, we investigated its effectiveness under Type 2 processing by explicitly instructing half of the participants to deliberate upon their choice. Both studies revealed strong and robust evidence for the default effect. Study 1 further revealed that this default effect was statistically equivalent under cognitive load. Study 2 revealed that the default effect was not attenuated when participants deliberated upon their decision, but instead showed a main effect of deliberation. Together, this implies that default nudges are not dependent on elaborate processing in order to be effective, but that deliberation can in parallel lead to different choice outcomes. [ABSTRACT FROM AUTHOR]

Objectives: The factoring contract has long undergone strong judicial intervention, ruling out the possibility of applying the express text of the law, article 296 of the Civil Code, in order to invalidate the contractual provisions that agree on the claim of the biller against the invoiced, even when expressly contracted, along the lines of the prosolvendo assignment. This study seeks to investigate whether there is room for a review of the current jurisprudential position, in order to provide legal certainty in the relationships maintained within the scope of promotion of commercial activities. It is asked whether athe judicial resistance to the claim clause in factoring contracts prove to be compatible with Corporate Law and the letter of the law. Methodology: the present research uses the hypothetical-inductive method, through the review of doctrine, legislation and jurisprudence, by way of reading books, scientific articles, constitutional and infra-constitutional legislation and judicial decisions on the proposed problem. Results: the claim clause agreement is nothing more than distributing and allocating the business risks in an anticipated and consensual way among the parties, whose conduct currently has express protection in the wording of item II, of article 421-A, of the Civil Code. Likewise, the diligent writing of a business contract can and must declare as an essential condition for the business carried out between the parties the agreement of the right of claim, both for the quantification of contractual costs and for the acceptance of the business by the biller. Positive results are expected in the medium and long terms of the new legal wording. The legislative signaling resulting from the Economic Freedom Law, which scope declaredly privileges free initiative and contractual freedom, limiting the field of state intervention, should provoke a revision of the current jurisprudential position, so that the validity of the claim clause is no longer refused expressly agreed in the commercial development contracts signed as of September 20, 2019. Contributions: this study brings the debate of the factoring institute, with a legal contractual instrument, widely used in the business environment, as well as the positive effects that the Law of Economic Freedom will bring to the business world by reaffirming respect for contractual clauses that define the allocation of contractual risks. [ABSTRACT FROM AUTHOR]

Understanding and remedying women's underrepresentation in majority-male fields and occupations require the recognition of a lesser-known form of cultural bias called masculine defaults. Masculine defaults exist when aspects of a culture value, reward, or regard as standard, normal, neutral, or necessary characteristics or behaviors associated with the male gender role. Although feminist theorists have previously described and analyzed masculine defaults (e.g., Bem, 1984; de Beauvoir, 1953; Gilligan, 1982; Warren, 1977), here we define masculine defaults in more detail, distinguish them from more well-researched forms of bias, and describe how they contribute to women's underrepresentation. We additionally discuss how to counteract masculine defaults and possible challenges to addressing them. Efforts to increase women's participation in majority-male departments and companies would benefit from identifying and counteracting masculine defaults on multiple levels of organizational culture (i.e., ideas, institutional policies, interactions, individuals). [ABSTRACT FROM AUTHOR]

In this paper, new models for credit risk prediction in Colombia are proposed by using different artificial intelligence techniques. These models can be used to support the risk management area in banks, and they aim to identify clients that could be in default, generating a possible credit risk for financial institutions. Three techniques are used to obtain the models (neuronal networks, decision trees, and support vector machines) that predict the next payment of a client's fee based on basic data from the client and previous recorded installment payments. Decision trees turns out to be more accurate than the other techniques that have been used when predicting credit risk with a ROC area of 88.29%. The proposed models reach accuracies that are like some other papers in the state of the art and in some cases, they overcome models in other studies. [ABSTRACT FROM AUTHOR]

Assessment and learning analytics both collect, analyse and use student data, albeit different types of data and to some extent, for various purposes. Based on the data collected and analysed, learning analytics allow for decisions to be made not only with regard to evaluating progress in achieving learning outcomes but also evaluative judgments about the quality of learning. Learning analytics fall in the nexus between assessment of and for learning. As such it has the potential to deliver value in the form of (1) understanding student learning, (2) analysing learning behaviour (looking to identify not only factors that may indicate risk of failing, but for opportunities to deepen learning), (3) predicting students-at-risk (or identifying where students have specific learning needs), and (4) prescribing elements to be included to ensure not only the effectiveness of teaching, but also of learning. Learning analytics have underlying default positions that may not only skew their impact but also impact negatively on students in realising their potential. We examine a selection of default positions and point to how these positions/assumptions may adversely affect students' chances of success, deepening the understanding of learning. [ABSTRACT FROM AUTHOR]

Assessment and learning analytics both collect, analyse and use student data, albeit different types of data and to some extent, for various purposes. Based on the data collected and analysed, learning analytics allow for decisions to be made not only with regard to evaluating progress in achieving learning outcomes but also evaluative judgments about the quality of learning. Learning analytics fall in the nexus between assessment of and for learning. As such it has the potential to deliver value in the form of (1) understanding student learning, (2) analysing learning behaviour (looking to identify not only factors that may indicate risk of failing, but for opportunities to deepen learning), (3) predicting students-at-risk (or identifying where students have specific learning needs), and (4) prescribing elements to be included to ensure not only the effectiveness of teaching, but also of learning. Learning analytics have underlying default positions that may not only skew their impact but also impact negatively on students in realising their potential. We examine a selection of default positions and point to how these positions/assumptions may adversely affect students' chances of success, deepening the understanding of learning. [ABSTRACT FROM AUTHOR]

This paper proves the existence, uniqueness, monotonicity and continuity of the early exercise boundary attached to American-style standard options under the jump to default extended constant elasticity of variance model of Carr and Linetsky (Financ Stoch 10(3):303–330, 2006). [ABSTRACT FROM AUTHOR]

The article analyzes the institutional control exercised by the National Fund Education Development (FNDE) as an ideological device of a regulatory state and its implications for the Student Financing Fund (Fies), pointing out its vulnerabilities, tax unsustainabilities and retraction. The quanti-qualitative methodology based on documentary and statistical data was used.lt was found that the control mechanisms used in the financing fund enabled weaknesses in the model adopted, resulting in leverage in the number of contracts, generating incompatibility with the volume of available resources, accentuating the degree of default in the program. [ABSTRACT FROM AUTHOR]

One of the greatest challenges facing international courts and tribunals today is a State's decision not to participate in a proceeding. Ever since China refused to take part in the South China Sea arbitration in 2013, there have been no fewer than nine additional inter-State cases of non-participation. The existing literature views this growing phenomenon as a problem. This article, however, takes the perspective of the non-participating State, and thus views non-participation as a strategy. After examining the law and practice of non-participation, the article discusses a series of strategic considerations that States should take into account when deciding whether to participate in a proceeding. In doing so, the article hopes not only to advise States considering non-participation, but also to help others understand the reasons behind a State's decision of non-participation. [ABSTRACT FROM AUTHOR]

The literature on sovereign debt restructurings has not yet fully accounted for the fact that today these deals are mostly about the contractual terms and judicial decision-marking that shape disputes in foreign courts. The heavily theorised concepts of reputation and sovereign immunity can, at best, only partly explain the specific dynamics at play. Here, we present the limitations of the two concepts through an analysis of the protracted US court battle between Argentina and some of its holdout creditors. The December 2011 NY district court decision in favour of these creditors reversed a long record of unenforceability for creditors' demands in foreign litigation. The paper argues that the inability of sovereigns to issue debt abroad due to ongoing international litigation, rather than the more rhetorical reputational punishments, makes default costly and its outcome less predictable. This is possible because governments often waive sovereign immunity from suit, particularly in the Unites States. Since the Argentine case has spurred preemptive reactions by other sovereigns in the form of contractual changes, the deviant case is also a 'trend-setter', informally institutionalising a new international 'contractual normal'. [ABSTRACT FROM AUTHOR]

Clinic transfers among women in Option B+ are frequent, often undocumented, and may lead to suboptimal engagement in care and HIV outcomes. The reasons women move between HIV clinics are not well understood. We conducted four focus group discussions (FGD) among HIV-infected pregnant women in Option B+ and four FGDs and five in-depth interviews among healthcare workers (HCWs) at two large ART clinics in Lilongwe, Malawi. Mobility and fear of inadvertent HIV disclosure, particularly due to seeing neighbors or acquaintances at a clinic, were key drivers of transferring between HIV clinics. Women were aware of the need to obtain a formal transfer, but in practice this was often not feasible and led women to self-transfer clinics. Self-transferring to a new clinic frequently resulted to re-testing and re-initiating ART and concerns about disruptions in ART. Strategies to monitor women's engagement in HIV care without requiring a formal transfer are urgently needed. [ABSTRACT FROM AUTHOR]

Defaults are an effective tool in shaping consumers' decisions. However, only a few studies have investigated the role of defaults regarding consumers' choices of electricity products. Moreover, each of these studies used binary choice sets (gray vs. green electricity). Notably, decision-making research has shown that consumer choice patterns are considerably influenced by the size of the choice set (e.g., adding a third option). The question is, does this also hold for defaults, that is, do they function differently depending on the choice set size? In our experimental study, participants could choose between three electricity products (gray, green, and eco), which varied in their environmental friendliness and price, the default randomly being one of the three products. In addition, we had a no-default condition. Contrary to the other studies, we found not only a default effect for the least environmentally friendly gray product, but also for the environmentally friendlier products green and eco electricity. Moreover, the popularity of the middle option – the green electricity product – was not reduced by adding a third product. The results indicate that increasing the set size by adding an eco-product and by intelligently setting the default could increase the number of consumers buying environmentally friendly electricity products. [ABSTRACT FROM AUTHOR]