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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]

Using two natural field experiments, we examine how warning individual retail borrowers that their loan performance will be reported to a public credit registry before and after the loan take-up affects their borrowing behavior. We show that credit warnings reduce default rates by 3.7 to 7 percentage points and increase loan take-up rates by 4.1 percentage points, which suggests that credit warnings benefit both lenders and borrowers. The main drivers appear to be borrowers' anticipation of a reduction in lenders' informational rents and improved repayment incentives. Moreover, the reduction in default rates is comparable for borrowers who receive the credit warning before and after the loan take-up. As credit warnings received before but not after a loan take-up can affect the borrower pool, and thus the overall credit risk of the pool, the results suggest that credit warnings have little net effect on the pool's credit risk due to selection. JEL Classifications: G10; G21; G23. [ABSTRACT FROM AUTHOR]

Copyright of Riwayat: Educational Journal of History & Humanities is the property of Riwayat: Educational Journal of History & Humanities 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.)

This study examines the key influencing factors of voluntary dual ratings selection in corporate bond financing and the effect of dual ratings on risk premium and default risk, based on corporate bond data issued from 2016 to 2021. It shows that the worse the bond issuers' credit qualifications, the more likely they are to seek dual ratings before issuance. Compared to a single credit rating, the risk premium for a bond with dual ratings is lower, and the effect becomes more significant in the low-rated and non-listed company samples. There are dual ratings before bond issuance, and the higher the average credit rating level of the bond, the lower the bond's default risk. The research findings provide a theoretical basis and empirical evidence for the practice of voluntary dual ratings in China, expand research on the influencing mechanism of bond issuance pricing in the context of voluntary dual ratings selection, and examine the information content of credit ratings from the perspective of their ability to predict bond default. [ABSTRACT FROM AUTHOR]

Losses suffered by customers can come from unlawful acts of producers or the existence of a valid contractual relationship between producers and consumers. This study uses an analytical method with an empirical juridical approach or legal sociology, which is an approach to the problem by reviewing the regulations that have been enforced in society as positive law with its implementing regulations including its implementation in the field. Law No. 8 of 1999 concerning Consumer Protection and the Decree of the Minister of Industry and Trade mentions the Dispute Settlement Agency. Based on the explanation of UUPK article 45 paragraph (2) the settlement of consumer disputes as referred to in this paragraph does not rule out the possibility of an amicable settlement by the parties to the dispute. At every stage, efforts are made to use a peaceful settlement by both parties to the dispute. Based on the provisions of Article 45 paragraph (2) UUPK linked to the explanation, consumer dispute resolution can be carried out in the following ways: 1) Peaceful settlement by the parties to the dispute without involving a neutral court or third party; 2) Settlement through court; 3) Settlement out of court through the Consumer Dispute Settlement Agency. In liability based on a default, the obligation to pay compensation is none other than the result of applying the provisions of the agreement, which are legal provisions that both parties voluntarily comply with based on the agreement. [ABSTRACT FROM AUTHOR]

This paper introduces a dynamic general equilibrium model to study how the distribution of leverage and foreclosure affect house prices. In the model, exogenous income shocks drive endogenous foreclosure and equilibrium house prices. The model shows how foreclosure sales, through their effect on housing supply, amplify and propagate house price drops. A calibration shows consumption and housing need to be sufficiently complementary to fit the data. Since leverage plays a key role in foreclosure, a regulator can reduce systemic risk by placing a cap on leverage. Counterfactual experiments show that in a world with less leverage, the same economic shock leads to less foreclosure and less severe, shorter busts in house prices. [ABSTRACT FROM AUTHOR]

International organizations such as OECD, WBG, IMF, UN and EU, as well as research studies, have highlighted the increasing contribution being made by microcredit finance institutions (MFIs) to financial inclusion, sustainable economic development and the fight against poverty. However, access to MFI credit is still far from the desired level for small and micro‐enterprises, especially in developing countries. The countries of Latin America and the Caribbean, where approximately half of the small formal companies do not have access to credit, have the world's highest financial gap ratio compared to potential demand (87%). In this context, effective instruments are needed to assess default risk, through credit ratings. Based on the Basel III regulations, an empirical study was conducted of two microcredit portfolios corresponding to two MFIs in two Latin American countries (Bolivia and Colombia) during the period 2012–2015, to identify the explanatory variables of the probability of default on loans granted by MFIs, using a logistic regression model and a neural network. The results obtained show that the main variables in this respect are the amount of the loan, the number of payments in arrears, the guarantees provided, the assessment of the credit analyst, male gender of the borrower and the level and trend of the general stock exchange index. The conclusions presented advance previous research findings and may be useful for MFI managers, regulatory institutions, financial analysts, scholars, policy‐makers and applicants for microcredits to undertake a business project, especially in times of emerging crisis, such as that caused by the Covid‐19 pandemic. [ABSTRACT FROM AUTHOR]

The development of the economic and monetary sector is now deemed necessary to further enhance the role of credit institutions on the basis of legal guarantees that meet the needs of the community. The government has provided various other credit/loan facilities through PT Pegadaian. The pawn agreement is made by the customer as the debtor providing the pawn and PT Pegadaian as the holder of the pawn. Pawn objects are movable objects with a few exceptions. The procedure for requesting credit until repayment is relatively easy without conditions which will cause new problems for customers. The approach method used is empirical juridical. The results of the research PT Pegadaian carry out its duties to help the community work well. The pawnshop is responsible for the maintenance and storage of the pawned goods by being insured. After the due date but the pawned goods are not taken or not redeemed is a form of default that occurs, the collateral goods will be auctioned with the applicable procedures. PT Pegadaian Tangerang Branch sometimes faces problems but all of them can be overcome by sticking to the company's mission, vision and goals, so that there is no prolonged dispute between customers and PT Pegadaian.

Abstract Background Defaulting is the most frequent cause of Community Management of Acute Malnutrition (CMAM) program failure. Lack of community sensitization, financial/opportunity costs and low quality of care have been recognized as the main driving factors for default in malnutrition programs. The present study aimed to evaluate if a logistic reorganization (generic outpatient department, OPD vs dedicated clinic, NRU) and a change in management (dedicated vs non dedicated staff) of the follow-up of children between 6 and 24 months of age with acute malnutrition, can reduce the default, relapse and readmission rate and increase the recovery rate. Methods Retrospective observational study on the impact of quality improvement interventions on rehabilitation outcomes of children (6–24 months) with acute malnutrition, admitted at the Catholic Mission Hospital of Chiulo (Angola) from January 2018 to February 2020. Main outcome measures were recovery rate, the default rate, the relapse rate, and the readmission rate. Results The intervention was associated with a decrease in the default rate from 89 to 76% (p = 0.02). Recovery rate was 69% in OPD and 88% in NRU (p = 0.25). Relapse rate was nil. Conclusions The present study supports the hypothesis that an improvement in quality of care can positively influence the rehabilitation outcomes of malnourished children. Further studies are needed to identify children at risk of low adherence to follow-up visits to increase the effectiveness of rehabilitation programs.

Résumé Cette recherche a porté sur la sécurité internationale de la République Démocratique du Congo et la place qu’occuperait le renseignement dans la construction de cette architecture. Jusqu’à ce jour, la RDC n’a pas encore pris conscience du rôle substantiel des renseignements dans la constitution de son soft power. C’est ce défaut de renseignement qui est à notre humble avis, le facteur principal d’une politique extérieure attentiste et d’une diplomatie des réactions souvent dépassées. Abstract This research focused on the international security of the Democratic Republic of Congo and the place that intelligence would occupy in the construction of this architecture. To date, the DRC has not yet realized the substantial role of intelligence in building its soft power. It is this lack of intelligence which is, in our humble opinion, the main factor of a wait-and-see foreign policy and a diplomacy of often outdated reactions.

This research discusses how the law protects business actors from consumers who do not have good faith in carrying out their obligations in paying installments. So, this study aims to analyze, prove, and find value on the principle of default committed by consumers in cases between PT. SINARMAS MULTIFINANCE MEDAN BRANCH with its debtors in decision No. 688/Pdt.Sus-Bpsk/2018/PN Medan. Based on the objectives to be achieved, this study uses a normative juridical method using references from various books, journals, legislation, and other supporting literacy. The results of this study reveal that the agreement given by the consumer finance party regarding the rights and obligations imposed on the debtor is to pay instalments, if this obligation is not fulfilled then a subpoena can be given. If it is not fulfilled, then the goods that are used as objects can be withdrawn, as a result the debtor can lose the right to the goods, and the consumer finance party can terminate the agreement unilaterally. Finally, this study concludes that there has been an act of default by the debtor to the creditor. Furthermore, he found that the form of protection for consumer finance for motorized vehicles for consumer default, namely the agreement of substitution power for unit acquisition and the sale of fiduciary guarantees.

Mortgage rights are born because of the underlying agreement, namely a credit agreement. The existence of a credit agreement results in the debtor being obliged to carry out his performance in the form of debt repayment to the creditor. If the debtor defaults, a legal action is taken in the form of execution, which is generally carried out by auction on Mortgage Rights. This type of research is normative which is descriptive. The data sources used are primary data and secondary data. With literature study data collection techniques. And using qualitative data analysis methods. With the existence of executorial power in the credit agreement, the creditor as the holder of the Mortgage Rights can take action to execute the auction of the land rights charged with the Mortgage Rights. Auction with Mortgage Rights is a class of execution auction, because it is based on a credit agreement. The implementation of the execution auction of Mortgage Rights must be carried out in accordance with the procedures of existing laws and regulations, so that there is a legal certainty, both for debtors, creditors, and auction winners.

This article considers the impact Of the Ukraine crisis on English law contracts in the banking and financial services sector. It outlines the contractual terms and English law principles that are most likely to be engaged as a result of these events, and the common scenarios faced by parties to facility agreements and contracts in the over-the-counter derivatives markets. [ABSTRACT FROM AUTHOR]

The power that default options have in shaping choice has been well established, yet relatively little is known about how decision makers experience and interpret such preselected options. Research suggests that individuals assume defaults represent a recommended course of action, yet the basis for this recommendation is unclear. Across two experimental studies, we explored consumer theories of default recommendations, examining spontaneous and experimentally manipulated perceptions of the basis of the default, and the impact on decision making across different contexts. Evidence across diverse populations and tasks shows that options were retained to a greater extent when represented as the default, consistent with classic default effects. Furthermore, a significant default effect emerged when the decision context was framed as complex. In line with research on social influence, defaults were most effective when they were presumed to reflect the most popular option (regardless of context). Interestingly, participants rated defaults as being more likely to represent the most popular option, regardless of decision context or default explanation provided to them. These findings highlight the importance of understanding the contexts in which default choices are relied upon and how those defaults are perceived by decision makers. [ABSTRACT FROM AUTHOR]

In this paper, we revisit a frequently employed simplification within the WACC approach that company cost of capital k V is supposed to be invariant to the debt ratio and therefore equal to the unlevered cost k U . Even though we know from Miles and Ezzell (1980) that k V formally differs from k U , treating both costs as equal strongly facilitates the practical firm valuation e.g. when companies strategically change their target debt ratios to a significantly different magnitude after a transaction. We provide both a theoretical model and an empirical analysis using 29 firms of the German stock market to quantify the economic significance between the company cost of a levered and an otherwise identical but unlevered firm. In particular, we can numerically support the usual simplification in the absence of default risk. In case that firms are default-risky, however, empirical findings indicate a clear difference between these costs equal to 1.88 percentage points on average even for moderate assumed bankruptcy costs which translates to a company mispricing of nearly 100%. As a result, the company cost of capital does practically not depend on the debt ratio if the firm is not subject to default risk or if bankruptcy costs are negligible. Otherwise, it does and a negligence of this relationship can cause significant mispricings. [ABSTRACT FROM AUTHOR]

This article provides a comprehensive history of default risk for newly originated home mortgages in the USA over the past quarter century. The loan-level source data include the entire guarantee book for Fannie Mae and Freddie Mac. We track many loan characteristics and produce a summary measure of risk. Among our many results, we show that mortgage risk had already risen in the 1990s, planting seeds of the financial crisis well before the actual event. Our results also cast doubt on explanations of the crisis that focus on borrowers with low credit scores. The aggregate series are available for download at https://www.fhfa.gov/papers/wp1902.aspx. [ABSTRACT FROM AUTHOR]

Water access is recognized as a human right by the United Nations since 2010. However, even when piped water is available, the economic crisis has limited poorer households to afford those services on a regular basis. Users become debtors as utilities face growing service costs and shrinking national public funds, pushing tariffs as the main source of revenue for cost recovery. The COVID-19 pandemic lit up affordability issues and health consequences of disconnection policies. Countries worldwide banned water shutoffs during the last year, ensuring water and wastewater service access for all citizens. Although disconnection is a way to reduce the number of debtors, it is, at the same time, considered a threat to human rights statements. This study gathered information on water subsidies, disconnection and vital flow policies applied among several medium- and high-income countries, in order to analyze how utilities have dealt with default rates and if there is any difference between the approaches between medium- and high-income countries. Through case studies, this paper also aims to inspire other practitioners facing the same issues. Based on the eleven case studies presented here, we concluded that high-income countries use assistance programs over water disconnection policies when compared to medium-income ones. Water shutoffs are explicitly forbidden in the United Kingdom, Australia, and France. Although a humane alternative, water flow restrictors have limited application, especially considering the technical issues involved. [ABSTRACT FROM AUTHOR]

We analyze the impact of soft information on US mortgages for default prediction and provide a new measure for lender soft information that is based on the interest rates offered to borrowers and incremental to public hard information. Hard and soft information provide for a variation in annual default probabilities of approximately 3%. Soft information has a lesser impact over time and time since origination. Lenders rely more on soft information for high‐risk borrowers. Our study evidences the importance of soft information collected at loan origination. [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]

The objective of this research study is to compare the performance of and test the reliability of four accounting-based models on a sample of 30 companies under the Insolvency and Bankruptcy Code in India and a matched sample of 30 solvent companies. The solvent companies are identified as those with highest and high safety, denoted with credit ratings ‘AAA’ and ‘AA’, respectively, and are matched on size (market capitalisation), year, and sector. The four models chosen are: Altman original Z-score, Altman Z-score for emerging markets, Ohlson model, and Zmijewski model. The scores are computed for T−1, T−2, and T−5 years, where T is the year the company filed under the IBC. The research findings reveal that all the models are able to predict default accurately for one and two years prior to bankruptcy, but fail to do so accurately for T−5 years. The predictive ability of the models is evaluated by ROC curves and the Gini coefficient. It is observed that the Ohlson model has the highest predictive ability, followed by the Zmijewski model and the Altman Z-score. In the next stage of our analysis, we compare the four accounting-based models with the Merton (market-based) model and the logit model to assess if the models, in their original form, are more accurate than these two models for the Indian markets. It is observed that the Merton model has the highest predictive accuracy, followed by Ohlson, Zmijewski and Altman Z-score. We conclude that neither the accounting nor the market models in themselves are sufficient; the models need to be reassessed based on specific regions and industries, and the scores need to be re-computed for better accuracy. We recommend that for accurate and early prediction, we need to look beyond financial statements to qualitative and other quantitative variables, so that defaults can be preempted and lenders be forewarned against impending distress. [ABSTRACT FROM AUTHOR]

We employed a forward intensity approach to predict the multi-period defaults of Chinese-listed firms during the period 2001–2019 on a monthly basis. We introduced the firm's default heterogeneity into the model, and each firm's actual past default situation was considered for Bayesian estimation. Maximum pseudo-likelihood estimation was conducted on 3513 firms to calculate the parameters of the Bayesian model to adjust the default intensity of all 4216 firms. Finally, we re-calculated the default probabilities and compared them with the original default probabilities of the out-of-sample 703 firms for all prediction horizons. We found that the Bayesian model, considering the firm's default heterogeneity, improved the prediction accuracy ratio of the out-of-sample firm's default probabilities both for short and long horizons. As compared with the original model, the prediction accuracy ratio of the out-of-sample's default probabilities, which were computed by our model, increased by almost 15% for horizons from 1 month to 6 months. When the horizon was extended from 1 year to 3 years, the prediction accuracy ratio increased by more than 10%. We found that the Bayesian model improved the predictive performance of the forward intensity model, which is helpful to improve the credit risk measurement system of Chinese-listed firms. [ABSTRACT FROM AUTHOR]

Copyright of REUNIR: Revista de Administração, Contabilidade e Sustentabilidade is the property of REUNIR - Revista de Administracao, Contabilidade e Sustentabilidade 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.)

Indigenous lands belonging to indigenous peoples are regulated by their respective customary laws. Land is seen as something very valuable and must be defended by the indigenous people. Customary land is land belonging to the customary law community unit. Under the system of land ownership according to customary law, indigenous people can gain ownership over a piece of land by clearing forests, inheriting land, receiving land as a gift, exchanging or granting land with or to another, or expiry/verjaring. This research is a sociological legal research, a legal research method that uses empirical facts taken from human behavior, both verbal behavior obtained from interviews and real behavior through direct observation. Empirical research is also used to observe the results of human behavior in the form of physical and archives. In the profit-sharing agreement between PT. Panbers Jaya and the Soa Nacikit indigenous people, PT. Panbers Jaya was in default because it did not carry out its obligations according to the agreement. After deliberation between the parties, the agreed-upon settlement is that PT. Panbers Jaya will give the agreed rights within the new timeframe. [ABSTRACT FROM AUTHOR]

Copyright of Süleyman Demirel Law Review / Süleyman Demirel Üniversitesi Hukuk Fakültesi Dergisi is the property of Suleyman Demirel Universitesi Hukuk Fakultesi Dergisi 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 Cuaderno Activa is the property of Tecnologico de Antioquia, Institucion Universitari 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.)

Abstract 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.

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.

This study intends to examine the execution of the objects of mortgages that is guaranteed under-hand to a third party without creditor’s approval. The research method used in this research is normative juridicial. There are three types of execution that are regulated in Undang-Undang Hak Tanggungan. The results of the study concluded that in terms of mortgage objects that are guaranteed under-hand to a third party, Bank Nagari gives a warning letter, legal notice, and file a lawsuit in court. That mortgages objects do not have the legal power and considered to never existed as the legal consqeunces.

Property sale and purchase transactions such as flats are transactions with large nominal values. The related parties must make a binding sale and purchase agreement as a means of legal protection for both parties in the event of a default against PPJB made by a notary so that the letter becomes official and safe. This study aims to determine the causal factors, and the legal protection of default of the sale and purchase binding deed (PPJB) of the apartment made by a notary. In addition, PPJB is also a letter made by a notary and as legal protection for consumers and is officially made by a notary.

ObjectiveTo test an obesity prevention strategy derived from behavioural economics (optimal defaults plus delay), focused on changing the college dining hall service method.DesignAfter a uniform pre-load, participants attended an experimental lunch in groups randomized to one of three conditions: a nutrient-dense, lower-fat/energy lunch as an optimal default (OD); a less-nutrient-dense, higher-fat/energy lunch as a suboptimal default (SD); or a free array (FA) lunch. In the OD condition, students were presented a menu depicting healthier vegetarian and omnivore foods as default, with opt-out alternatives (SD menu) available on request with a 15 min wait. In the SD condition, the same menu format was used with the positioning of food items switched. In the FA condition, all choices were presented in uniform fonts and were available immediately.SettingPrivate rooms designed to provide a small version of a college dining hall, on two campuses of a Northeastern US university.SubjectsFirst-year college students (n 129).ResultsThere was a significant main effect for condition on percentage of optimal choices selected, with 94 % of food choices in the OD condition optimal, 47 % in the FA condition optimal and none in the SD condition optimal. Similarly, energy intake for those in the SD condition significantly exceeded that in the FA condition, which exceeded that in the OD condition.ConclusionsPresenting menu items as optimal defaults with a delay had a significant impact on choice and consumption, suggesting that further research into its long-term applicability is warranted.

The sanctions introduced by the United States and other Western countries after the beginning of Russia's special military operation in Ukraine were intended, along with the military assistance to Ukraine, as the major instrument in countering Russia's actions. These measures were aimed not only against the Russian state and its military potential and encompassed not only targeted individual and sectoral sanctions, but affected the population at large. The article covers the period from February till the end of 2022 and is focused on the industries most closely related to this country's military-political stance: the finance sector, the oil and gas exports, the metallurgy, transportation, defense production, and high tech. Special attention is given to secondary sanctions which had the goal to prevent Russia from bypassing restrictions and creating alternative schemes to sell its sanctioned goods, accomplish financial transactions and receive the components and technologies it needed. Various viewpoints on the consequences of the sanctions for the Russian economy and policy are described, as well as for the European and global market and international relations at large. [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]

Copyright of GeSec: Revista de Gestao e Secretariado is the property of Sindicato das Secretarias e Secretarios do Estado de Sao Paulo (SINSESP) 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.)

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]

With technology impacting several sectors, it can be imagined that the financial sector has a lot to benefit from the increasing level of technological innovations. These institutions take from the surplus of the economy and lend to the deficit sectors of the economy. Individuals and organizations obtain credit facilities from financial institutions to meet basic needs and boost their businesses. However, the stability of the economy is better guaranteed when borrowers pay back the loans availed to them rather than default. This study aims to identify the effectiveness of Random Forest in credit scoring using 32,581 observations. The study proved that Random Forest provides better output accuracy of 91% based on Gini Index for variable selection according to the level of importance when compared to Decision Tree with an output of 83%. It offers better credit scoring accuracy and credit rating as a result of its classification power. The objective of the study is to point out the random forest predictive strength using an unprocessed German credit dataset from Kaggle and to provide an explainable framework sufficient for Financial Institutions and banks to make decisions when granting loans to existing and new applicants. [ABSTRACT FROM AUTHOR]

This paper examines the Insolvency and Bankruptcy Code, 2016 and its efficacy in delivering resolution in a time bound manner and meeting its key objectives. Key issues in resolution of bankruptcy cases such as delays in resolution, role and functioning of insolvency professionals, role of Committee of Creditors (CoC), performance of the channels for resolution, and rising NPAs have been studied using the data published by IBBI, RBI and the existing literature. Findings suggest that resolution of cases under IBC, 2016 has been around 9% of the cases registered and the average time taken for resolution has been 528 days. These results indicate the need for further reforms that would help improve the efficiency of IPs, CoCs, NCLT/NCLAT and other players. [ABSTRACT FROM AUTHOR]

Copyright of Türkiye Adalet Akademisi Dergisi is the property of Justice Academy of Turkey 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.)