What influences banks' choice of risk managment tools? Theory and evidence

This paper investigates the factors influencing banks' decision to engage in advanced risk management, from both a theoretical and an empirical perspective. In recent decades, credit risk management in banks has become highly sophisticated and banks have become more active and advanced in the management of credit risks. We identify two driving factors for risk management: bank competition and sector concentration in the loan market. We find empirical support for our hypotheses, using a unique data set of 249 German banks; parts of the data set are hand-collected. Bank competition pushes banks to implement advanced risk management. Sector concentration in the loan market promotes credit portfolio modeling, but inhibits credit risk transfer

Solving a robust airline crew pairing problem with column generation

In this study, we solve a robust version of the airline crew pairing problem. Our concept of robustness was partially shaped during our discussions with small local airlines in Turkey which may have to add a set of extra flights into their schedule at short notice during operation. Thus, robustness in this case is related to the ability of accommodating these extra flights at the time of operation by disrupting the original plans as minimally as possible. We focus on the crew pairing aspect of robustness and prescribe that the planned crew pairings incorporate a number of predefined recovery solutions for each potential extra flight. These solutions are implemented only if necessary for recovery purposes and involve either inserting an extra flight into an existing pairing or partially swapping the flights in two existing pairings in order to cover an extra flight. The resulting mathematical programming model follows the conventional set covering formulation of the airline crew pairing problem typically solved by column generation with an additional complication. The model includes constraints that depend on the columns due to the robustness consideration and grows not only column-wise but also row-wise as new columns are generated. To solve this dicult model, we propose a row and column generation approach. This approach requires a set of modifications to the multi-label shortest path problem for pricing out new columns (pairings) and various mechanisms to handle the simultaneous increase in the number of rows and columns in the restricted master problem during column generation. We conduct computational experiments on a set of real instances compiled from a local airline in Turkey

Adenomyotic cyst of the uterus associated with pelvic pain: A case report

Adenomyotic cysts of the uterus are extremely rare and this case report is to document an adenomyotic cyst of the uterus associated with pelvic pain. A 27-year old nulliparous patient admitted to the hospital with the complaint of dysmenorrhea, dyspareunia and pain in the right pelvic region for the last 3 months. Transvaginal ultrasonographic examination revealed a 50 × 36 mm intramural cystic lesion on the right region of the corpus uteri. Hysteroscopic examination showed that it did not deteriorate the endometrial cavity. During laparatomy dissection of the uterine wall revealed 5 cm cystic lesion that was excised circumferentially protecting the surrounding myometrial tissue. The definitive pathology report came out as adenomyotic tissue. Imaging techniques are critical in differential diagnosis of adenomyotic cysts and to choose the appropriate intervention. Medical therapy or surgical intervention like excision of the cyst or hysterectomy may be the choices of treatment. J Clin Exp Invest 2014; 5 (1): 100-10

International Cooperation in Research: Cooperative Doctorates in Finance

Research has gained in importance at universities of applied sciences in recent years. However, a lack of suitable doctoral opportunities for their own graduates can be observed. When looking for university partners for cooperative doctorates, graduates of university of applied sciences continue to be confronted with reservations or discrimination by German universities. On the other hand, international universities are generally unbiased and open for collaboration. The establishment of a joint doctoral program requires a certain level of commitment on the part of the participating universities, which is why the framework conditions for scientific networking with international universities in the field of research, including the possibilities of a cooperative doctorate, are evaluated and both the drivers and the barriers for the initiation of a cooperative doctorate in the field of finance are identified. The cooperative doctorate with international partners is a model that can ensure the continuity of doctoral education and promote research activities at the university of applied sciences.Die Forschung an Hochschulen für angewandte Wissenschaften hat in den letzten Jahren an Bedeutung gewonnen. Es ist jedoch ein Mangel an geeigneten Promotionsmöglichkeiten für die eigenen Hochschulabsolventinnen und -absolventen zu beobachten. Bei der Suche nach Partneruniversitäten für kooperative Promotionen sind Absolventinnen und Absolventen von Hochschulen für angewandte Wissenschaften weiterhin mit Vorbehalten durch deutsche Universitäten konfrontiert. Andererseits sind internationale Universitäten in der Regel unvoreingenommen und offen für Kooperationen. Die Etablierung einer gemeinsamen Doktorandenausbildung erfordert ein gewisses Engagement der beteiligten Universitäten, daher werden die Rahmenbedingungen für eine fachliche Vernetzung mit internationalen Universitäten im Bereich der Forschung einschließlich der Möglichkeiten einer kooperativen Promotion evaluiert und sowohl die Treiber als auch die Hürden für die Anbahnung einer kooperativen Promotion im Fachgebiet Finance identifiziert. Die gleichberechtigte kooperative Promotion mit internationalen Partnern ist ein Modell, das die Kontinuität der Doktorandenausbildung sicherstellen und die Forschungsaktivitäten an Hochschulen für angewandte Wissenschaften fördern kann

805 nolu tapu tahrir defterine göre Kamaniçe Eyaleti

Bu tezin, veri tabanı üzerinden yayınlanma izni bulunmamaktadır.ÖZET Anahtar Kelimeler: Kamaniçe, Mejibuji, Satanovn, Drajna, Yazlofça, Bar. Osmanlı Devleti altı yüzyılı aşkın bir süre çok geniş bir coğrafyada varlık göstererek Türk ve dünya tarihinde bugün bile etkisi etkisini hissettiren derin izler bırakmıştır. Bu varlığı ve süreci anlamak, bilinmeyen yönleri ortaya çıkarmak ve bugüne yönelik çıkarımlarda bulunabilmek ancak Osmanlı'nın bize bıraktığı zengin arşiv mirasının tam anlamıyla değerlendirilmesiyle mümkün olacaktır. Bahsi geçen arşiv kaynakları arasında, tımar sisteminin bir ürünü olan "Tapu Tahrir Defterleri" özellikle Osmanlı ekonomik ve sosyal yapısını yansıtmaları açısından ayrı bir öneme sahiptir. Araştırmamızda buradan yola çıkılarak bugünkü Ukrayna sınırları içerisinde kalan Kamaniçe Eyaleti'ne ait 805 no'lu mufassal tapu tahrir defteri kullanılmıştır. Eyalete bağlı 4 sancak ve bu sancaklara bağlı 19 nahiyeyle ilgili zengin bilgiler içeren defter, bölgeye ait elimizdeki tek tahrir defteri olmakla birlikte 17. yy geç Osmanlı tahrir sistemine de örnek teşkil etmektedir. Kaynağımız, öncelikle Latin alfabesine çevrilmiş ve ortaya çıkan veriler idarî, iktisadî ve demografik açıdan değerlendirilerek Kamaniçe Eyaleti olarak adlandırılan bölgenin, tahririn geçtiği dönemdeki durumu ortaya konmaya çalışılmıştır. Tapu tahrir defterlerinin orijinalleri Ankara Tapu Kadastro Genel Müdürlüğü Arşivi 'nde muhafaza edilmekte olup elimizdeki defter nüshası İstanbul Başbakanlık Osmanlı Arşivi'nde bulunan orijinal defter nüshalarından temin edilmiştir. Çalışmamız neticesinde bu bölgede yapılacak ayrıntılı araştırmalara kaynak olacak kıymetli bir defter kullanılmaya hazır hale getirilmiş, stratejik öneme sahip bir XVII. yüzyıl Osmanlı eyaletinin idarî, iktisadî ve demografik durumu ana hatlarıyla da olsa tahlil edilmiştir. Bu yönüyle araştırmamız, tapu defterleri esas alınarak yapılan ve son dönemlerde giderek yaygınlaşan Osmanlı şehir ve iktisat tarihçiliği çalışmalarına Doğu Avrupa cephesinde olmak üzere, bir nebze de olsa katkı sağlamak gayesindedir

Credit portfolio modelling and its effect on capital requirements

The subprime crisis revealed that the adoption of suitable systems for the management of credit risk is of utmost concern. The Basel Committee on Banking Supervision (2009) advises banks to use credit portfolio models with caution when assessing the capital adequacy. This paper investigates whether decisions on total risk-based capital ratios are channeled through credit portfolio models. In other words, do credit portfolio models serve as a relevant determinant for banks to adjust their capital allocation? To empirically test the relationship we measure the average treatment effect by conducting a quasi-natural experiment in which we employ a propensity-matching approach to panel data. We find that the adoption of credit portfolio models positively and significantly affects regulatory capital decisions of banks both directly following the introduction as well as over a longer time horizon. By now it is commonly accepted that overreliance on credit portfolio models composes a fundamental cause of the current financial crisis. Our results put the debate about overreliance on quantitative models in a new perspective. This knowledge may prove valuable for regulators who aim to understand bank behaviour and thus advance regulation