On signalling and debt maturity choice

The theoretical literature on a firm?s choice of debt maturity argues that a borrowing firm can signal its value in asymmetric information setting by borrowing short. This well-known fact is based on Flannery (1986). This paper questions the use of debt maturity as a signalling device. We demonstrate that Flannery?s (1986) signalling outcome is vulnerable on two accounts. First, the separating equilibrium established by Flannery is not driven by the incentive compatibility. Second, derivations of the separating equilibrium appear to be vulnerable due to the lack of the refinements of pooling equilibria. If correct constraints are provided, the parameter space for the separating equilibrium shrinks, moderating the signalling role of debt maturity.

The Case Method for Teaching Philosophy

Based on an examination of specific limits in philosophy education when professors employ presentation and question-and-answer methods, the article emphasizes the necessity to reinvent philosophy teaching methods in order to promote active and creative pupils. Among active teaching approaches, the article chose the case method to supplement the traditional teaching method, which has frequently occupied a unique position in teaching philosophy up to now.&nbsp

Collateral and Debt Maturity Choice. A Signaling Model

This paper derives optimal loan policies under asymmetric information where banks offer loan contracts of long and short duration, backed or unbacked with collateral. The main novelty of the paper is that it analyzes a setting in which high quality firms use collateral as a complementary device along with debt maturity to signal their superiority. The least-cost signaling equilibrium depends on the relative costs of the signaling devices, the difference in firm quality and the proportion of good firms in the market. Model simulations suggest a non-monotonic relationship between firm quality and debt maturity, in which high quality firms have both long-term secured debt and short-term secured or non-secured debt.

Užívání anglických jmen vietnamskými univerzitními studenty

and keywords The aim of this thesis is to investigate the management of personal names of Vietnamese students living and/or studying in the United Kingdom. It explores reasons for adopting English names, situations for different name usage, and motivations behind name choices. The data were obtained both quantitatively through a questionnaire and qualitatively through one-on-one interviews. The results confirm that management of personal names heavily depends on the individual. However, certain patterns can be observed. The study's findings demonstrate that participants use strategies for selecting an English name that align with those proposed in previous works by Burt (2009), Chen (2015), and McPherron (2009). Additionally, the research corroborates the role of convenience as a significant factor influencing individuals to adopt an English name as proposed by previous research. However, the study also identifies deviations from existing literature. Notably, the trendiness of having an English name appears to hold less importance for the participants, differing from the findings of Barešová & Pikhart (2020). Furthermore, contrary to the perspectives of Chen (2015) and Heffernan (2010), the research indicates that adopting an English name for use in English classes does not significantly impact the...a klíčová slova Cílem této práce je prozkoumat management osobních jmen vietnamských studentů žijících a/nebo studujících ve Spojeném království. Aspekty řešené v této práci jsou důvody pro přijetí anglického jména, v jaké situaci používá jedinec které jméno a jaké jsou motivace při výběru anglického jména. Data byla získána kvantitativně pomocí dotazníku a kvalitativně prostřednictvím rozhovorů. Výsledky potvrzují, že management osobních jmen silně závisí na jednotlivci, lze však identifikovat určité vzorce a trendy. Výsledky této studie naznačují, že účastníci uplatňují stejné strategie při výběru anglických jmen, které jsou konzistentní s předchozími pracemi, například Burt (2009), Chen (2015) a McPherron (2009). Kromě toho tato studie potvrzuje, že usnadnění každodenního života hraje významnou roli při rozhodování jednotlivců přijmout anglické jméno, jak bylo identifikováno v předchozím výzkumu. Zároveň však tato studie identifikuje odchylky od existující literatury. Zdá se, že trendovost anglických jmen má pro účastníky menší význam, což se liší od závěrů Barešové a Pikharta (2020). Navíc, na rozdíl od závěrů Chena (2015) a Heffernana (2010), tato studie ukazuje, že používání anglického jména specificky během hodin angličtiny nemá významný vliv na celkové užívání anglického jména. Klíčová...Department of the English Language and ELT MethodologyÚstav anglického jazyka a didaktikyFaculty of ArtsFilozofická fakult

Solutions of organizing environmental auditing in the State Audit Office of Vietnam

Nowadays, sustainable development associated with environmental protection has become the hot global concern. In many countries around the world, Supreme Audit Institutions should play an important role in this area, ensuring that natural resources are managed, exploited and used effectively. Environmental auditing has now become a major activity at many SAIs. In Vietnam, environmental auditing is still a new issue in both theory and practice. Recognizing the importance of environmental protection and sustainable development, the SAV considers environmental auditing one of the priority activities in the years to come. Therefore, environmental auditing should be conducted more early, more comprehensively and more fully in the manner of auditing objectives, contents, with more appropriate, effective methods and ways of carrying out audits in Vietnam. It is necessary to study the theory on environmental auditing, analyse and evaluate at the same time the practice of environmental auditing in Vietnam, review generally the situation of environmental auditing conducted in the world, which found shortcomings and limitations of carrying out environmental auditing in the SAV and as a result, draw lessons and propose solutions to implement environmental auditing of the SAV. The thesis introduces a number of researches by Indian and Vietnamese scientists, INTOSAI experts and a number of standard, guidelines in specific fields of environmental auditing that are published and generally accepted by the SAIs in the regional and international community. It is very important that the thesis studies about the system of legal documents, audit reports related to or published by the SAV in Vietnamese language like the State Audit Law, the State Audit Development Strategy to 2020, annual audit reports. An interview with specialized auditor and a secondary servey of the WGEA are also chosen the data for the research. Based on an analysis of the general theories of organizational structure, roles and functions of the SAV, and an evaluation and synthesis of the results of environmental auditing activities of some SAIs in the region and in the world, together with a summary and research regarding the current status of the organizational model, the operational mechanism of the SAV in general and environmental auditing in particular, the thesis shows SAV’s development strategy in the future and suggests some solutions and recommendations to efficiently organize environmental auditing in the SAV. The Government, the State Audit Office and the audited entities are subject to have improvement for organizing environmental auditing in the SAV

Severe Pre-Eclampsia in the Setting of COVID-19 Case Report of Three Patients in Detroit, Michigan

This case series discusses three patients who presented to our institution with elevated blood pressures and respiratory complaints to demonstrate the complexity of delineating the diagnoses.https://scholarlycommons.henryford.com/merf2020caserpt/1118/thumbnail.jp

Factors Influencing Adoption of Online Payment via E-Commerce Platforms

In this study, the research group applied the Technology Acceptance Model (TAM) by Davis (1989) to analyze factors influencing customers’ intention to use the online payment via e-commerce platforms as well as to encourage Vietnamese consumers to adapt this means of payment. Besides Perceived Ease of Use and Perceived Usefulness in the original model of Davis (1989), three additional dependent factors (Subjective Norm, Trust, Risk) were added to the model. The new model proposed by the research group aims to give a more well-rounded explanation on Vietnamese consumers’ attitude and intention towards the online payment. Using sample data including 448 consumers in the Northern region of Vietnam, the research group has been able to validate the hypothesis model and prove that independent and dependent variables (Attitude towards Use and Intention to Use) are positively correlated. Among the 5 dependent variables, Subjective Norm is found to be the most significant factor contributing to promote online payment attitude and intention through e-commerce websites of Vietnamese consumers. Keywords: TAM, online payment, online shopping, e-commerce DOI: 10.7176/EJBM/13-8-19 Publication date: April 30th 202

Predictors of postal or online response mode and associations with patient experience and satisfaction in the English Cancer Patient Experience Survey

Background: Patient experience surveys are important tools for improving the quality of cancer services but the representativeness of responders is a concern. Increasingly, patient surveys which traditionally used postal questionnaires are incorporating an online response option. However, the characteristics and experience ratings of online responders are poorly understood. Objectives: To examine predictors of postal or online response mode; and associations with patient experience in the (English) Cancer Patient Experience Survey. Methods: We analysed data from 71,186 patients with cancer recently treated in National Health Service (NHS) hospitals who responded to the Cancer Patient Experience Survey 2015. Using logistic regression, we explored patient characteristics associated with greater probability of online response; and whether, after adjustment for patient characteristics, online response was associated with more or less critical evaluation of cancer care compared with postal response. Results: 4,635 (7%) of the survey participants responded online. In adjusted analyses, men (OR women vs men 0.50; 95% CI 0.46-0.54), younger (OR < 55 vs 65-74 years old 3.49; 3.21-3.80), least deprived (OR most vs least deprived quintile 0.57; 0.51-0.64), and ethnic minority (OR non-white vs white ethnicity 1.37; 1.24-1.51) patients were more likely to respond online. Compared with postal responders, after adjustment for patient characteristics, online responders had a higher likelihood of reporting an overall satisfied experience of care (OR 1.24; 1.16-1.32). For 34/49 other items, online responders more frequently reported a less than positive experience of care (8 reached statistical significance), and the associations were positive for the remaining 15/49 items (2 reached statistical significance). Conclusions: In the context of a national survey of patients living with cancer, online and postal responders tend to differ in their characteristics and rating of satisfaction; associations between online response and reported experience were generally small and mostly non-significant, but with a tendency towards less than positive ratings, though not consistently. Whether the observed associations between response mode and reported experience were causal needs to be examined using experimental survey designs.Macmillan Cancer Suppor