The role of market discipline in handling problem banks

This paper considers the conditions that are necessary for market discipline to complement prompt corrective action (PCA) by the authorities in handling problem banks. We initially consider precisely what market discipline means in this context, who exercises it and the preconditions that are necessary for it to operate effectively. We explore the incentives that are necessary for PCA and market discipline to reinforce rather than cancel each other and in particular consider the limits to market discipline in this context from corporate governance and from difficulties in valuation. While our analysis is primarily aimed at advanced countries, we also examine problems in emerging markets and how deposit insurance arrangements might conflict with the aims of both PCA and market discipline.market discipline; banks; prompt corrective action

The role of market discipline in handling problem banks

This paper considers the conditions that are necessary for market discipline to complement prompt corrective action (PCA) by the authorities in handling problem banks. We initially consider precisely what market discipline means in this context, who exercises it and the preconditions that are necessary for it to operate effectively. We explore the incentives that are necessary for PCA and market discipline to reinforce rather than cancel each other and in particular consider the limits to market discipline in this context from corporate governance and from difficulties in valuation. While our analysis is primarily aimed at advanced countries, we also examine problems in emerging markets and how deposit insurance arrangements might conflict with the aims of both PCA and market discipline.market discipline, banks, prompt corrective action

Incorporating Time-Lag Effects Into The Expectancy Model of Motivation: A Reformulation of the Model

Of cognitive theories of motivation, the most intensively researched in recent years is the Valence-Instrumentality-Expectancy (VIE) theory. A recent review of VIE research (9) shows the valence model to be reasonably predictive of occupational preference, job satisfaction, and valence of performance. The behavioral choice model has not fared so well; although it moderately predicts self-ratings of job effort, its efficiency in predicting criteria measured by other then self-ratings is questionable. When the behavioral choice model is used in research, the following findings are typical: 1. Intrinsic outcomes (feelings of accomplishment, etc.) are better predictors of satisfaction and performance than are extrinsic outcomes (pay, promotions, etc.). 2. Small variances are obtained in valence measures; thus, multiplying expectancy by valence does not increase predictability over use of expectancy alone. 3. Casual tests using time series designs are inconclusive. In addition to a number of methodological problems, these findings led Mitchell (9) to suggest development of more accurate theoretical representations and better construct measures

ELF: The electronic learning facilitator

As the world‐wide computer network becomes ubiquitous, new tools have been developed, such as the World Wide Web (WWW), for the delivery of multimedia hypertext‐based documents. Similarly, there has been an explosion in the amount of email, bulletin boards, and Usenet News available. This has led to a major problem of information overload: we are slowly but surely being overwhelmed by the amount of information available to us

Feed system design and experimental results in the uhf model study for the proposed Urbana phased array

The effects of atmospheric turbulence and the basis for the coherent scatter radar techniques are discussed. The reasons are given for upgrading the Radar system to a larger steerable array. Phase array theory pertinent to the system design is reviewed, along with approximations for maximum directive gain and blind angles due to mutual coupling. The methods and construction techniques employed in the UHF model study are explained. The antenna range is described, with a block diagram for the mode of operation used

The quality of monetary policy and inflation performance: globalization and its aftermath

With a few unfortunate exceptions the last three decades have seen reductions in inflation around the world to the point that many would argue that further improvements in price stability would offer only limited welfare gains. This experience is the result of many factors, some of which are country-specific. In this paper we seek to isolate one of the factors, namely, the improvement in the quality of monetary policy. There are two novel aspects to the study. Firstly, we essentially estimate a gravity-like model. Secondly, we propose generally a more exhaustive analysis of the potential role of a large number of institutional factors than has been done before. Briefly, we find that institutional factors play a role in explaining inflation relative to the US experience, which is used as the benchmark. Nevertheless, any reduction in inflation stemming from greater central bank autonomy is a feature of the 1980s and early 1990s. Thereafter, central banks in the OECD look very much alike.globalization; inflation differentials; monetary policy strategy; institutional change

Using IT Support to improve the quality of Peer Assisted Learning

Peer assisted learning (PAL) is one way to increase the empowerment of students through their learning practices and, hence, enhance their learning journey. PAL involves students mentoring groups of academically less experienced students; develops the quality and diversity of student learning, and enables students to become active partners in their learning experience. PAL supports student transition into higher education and there is evidence that it can aid retention in the early weeks of degree study. Retention is becoming a key issue for universities and one of the key performance indicators (KPIs) of quality education under the strategy for higher education set out by the current government. The PAL³ project is funded by Learn Higher and is an on going project investigating the use of IT support to improve the quality of Peer Assisted Learning. The project has set up a learning environment for students, and a knowledge base for PAL student mentors and PAL and other academic staff. This paper reports on initial findings from the project which can be divided into two strands. Firstly, the compilation of a staff knowledge base has highlighted the fact that PAL is known by different names and has different meanings in different places. We provide an initial classification. Secondly, the PAL student environment, which has been implemented and used by the student cohort and their PAL student mentors, has highlighted issues that were not envisaged at the beginning of the study and this has implications for future work

Toward A Definition of Organizational Politics

Viewing organizations as political entities is not a recent phenomenon. March (7) suggested that organizations are political coalitions in which decisions are made and goals are set by bargaining processes. Other writers stressed the utility of taking a political perspective when studying organizations (1, 6, 9, 22). Anyone associated with almost any form of organization eventually becomes aware of activities that are described by employees as political , but what is termed political by one observer may not be viewed as political by another. To understand the nature of political processes in organizations, some agreement as to what constitutes political behavior must be developed. This article attempts to shed light on the organizational political process by constructing a literature-derived definition of organizational politics (OP). Guiding this effort are the following assumptions: 1. Behavior referred to as politics takes place in varying degrees in all organizations. 2. Not all behavior in organizations can be categorized as political. 3. The organizational political process can be described as non-evaluative terms. 4. While many variables involved in describing organizational politics may be familiar to other organizational behavior concepts, a combination of these variables constitutes a unique process that cannot be described adequately by existing paradigms. This unique process if organizational politics