Risk Assessment for Reimbursement of Microfinance Institutions

Purpose: Understanding the repayment behavior of the borrower is very important to the lending decisions of financial institutions and thus helps to promote the development of microfinance. This paper examines the factors that affect the repayment default of microfinance in Tunisia.   Theoretical framework: Some studies highlight the importance of incorporating macroeconomic conditions for the estimation of borrowers’ credit risk (Bellotti & Crook, 2013). However, IADB (2020) announced that after the start of the Covid-19 pandemic in the region, microfinance institutions had restricted liquidity, which affected the availability of credit.  Therefore, for the purpose of the present article, the literature on default in MFIs analyzes the credit risk and factors that influence granted loans   Design/Methodology/Approach:  We carried out a survey, with a non-stratified sample of 320 microcredit beneficiaries, during 2021 in Enda-inter-Arab agencies located in the region of Sousse- Tunisia. We introduce a binary logistic regression model  to predict the values taken by a discrete variable from a series of continuous or binary explanatory variables.   Findings: We show that borrowers’ socioeconomic characteristics, total loan, repayment period and past participation in microcredit loans have significant impacts, as special features, on their default rates.   Research, Practical & Social implications: This paper has been designed to provide some valuable contributions in improving the repayment performance and can be significant political involvement, derived from the strong relationship between the level of poverty and the success of loan repayments. Indeed, the level of borrowers’ poverty must be given considerable weight before the loan is disbursed.   Originality/Value: The results indicate that the qualification and age of the workforce should be considered a basic requirement before the granting of loan. In addition the microfinance institution's credit policy should also consider service projects a priority.

Semi-Random LDPC Codes for CDMA Communication over Nonlinear Bandlimited Satellite Channels

This paper considers the application of low-density parity check (LDPC) error correcting codes to code division multiple access (CDMA) systems over satellite links. The adapted LDPC codes are selected from a special class of semi-random (SR) constructions characterized by low encoder complexity, and their performance is optimized by removing short cycles from the code bipartite graphs. Relative performance comparisons with turbo product codes (TPC) for rate 1/2 and short-to-moderate block sizes show some advantage for SR-LDPC, both in terms of bit error rate and complexity requirements. CDMA systems using these SR-LDPC codes and operating over non-linear, band-limited satellite links are analysed and their performance is investigated for a number of signal models and codes parameters. The numerical results show that SR-LDPC codes can offer good capacity improvements in terms of supportable number of users at a given bit error performance

Les tableaux de La Religieuse : du roman de Diderot au film de Nicloux

En 2013, presque un demi-siècle après l’adaptation polémique du roman posthume de Diderot par Jacques Rivette, Guillaume Nicloux revisite La Religieuse et fait découvrir au grand public l’histoire de Suzanne Simonin telle qu’il la voit. La réalisation du film oblige, inévitablement, à conférer aux tableaux de La Religieuse une coloration et un sens particuliers. C’est précisément à l’interprétation des tableaux du roman de Diderot proposée par Nicloux que cet article s’intéresse. L’étude porte principalement sur les tableaux qui mettent en scène le corps féminin : le corps hystérique qui se révolte et se soumet, succombant successivement à la déraison et à la mélancolie.In 2013, nearly half a century after Jacques Rivette’s polemical adaptation of Diderot’s novel, Guillaume Nicloux went back to La Religieuse and provided the public with his own view of the story of Suzanne Simonin. The film inevitably gives the scenes of La Religieuse a particular colour and meaning. This article studies Nicloux’s interpretation of the scenes of Diderot’s novel, in particular those which display the female body as a hysterical body which revolts and submits, giving in successively to folly and melancholy

Semi-Nonparametric Estimation of Energy Demand in Tunisia

In this paper, we have studied the possibilities of substitution between different forms of energy at the sectoral level in Tunisia. Indeed, we estimated a globally flexible functional form of Fourier type using the iterative Zellner’s seemingly unrelated regression (ITSUR). Contrary to several previous studies in the literature, we calculated the price (proper and crossed) and income elasticities, the elasticities of substitution in the sense of Allen, as well as the elasticities of substitution in the sense of Morishima for the period (1980-2017). The results show that price and income elasticities differ from one energy product to another and from one sector to another, depending on the destination (final or intermediate) and the nature of use. Additionally, the findings suggest that energy demand is more sensitive to changes in income rather than changes in price. It is noteworthy that the absolute value of price elasticity is lower than that of income elasticity. Implementing an appropriate pricing policy can help limit the income effect and encourage economic agents to make efforts to save energy. Our results also indicate that any pricing policy aiming to reduce energy consumption must consider the possibilities of substituting between products. Otherwise, this policy may yield results contrary to the intended objectives

1,3-Bis(2,6-diisopropyl­anilino)-1-phenyl­butyl­ium hexa­fluorido­phosphate

The cation of the title salt, C34H45N2 +·PF6 −, is a protonated form of an unsymmetrical overcrowded β-imino­amine. The observed bond lengths [C—N = 1.326 (4)–1.341 (4) Å and C—C = 1.383 (4)–1.391 (4) Å] suggest significant delocalization within the π system of the N C C C N backbone