Risk Management, Capital Structure and Lending at Banks

We test how active management of bank credit risk exposure through the loan sales market affects capital structure, lending, profits, and risk. We find that banks that rebalance their C&I loan portfolio exposures by both buying and selling loans – that is, banks that use the loan sales market for risk management purposes rather than to alter their holdings of loans -- hold less capital than other banks; they also make more risky loans (loans to businesses) as a percentage of total assets than other banks. Holding size, leverage and lending activities constant, banks active in the loan sales market have lower risk and higher profits than other banks. We conclude that increasingly sophisticated risk management practices in banking are likely to improve the availability of bank credit but not to reduce bank risk.

An artificial neural network application on nuclear charge radii

The artificial neural networks (ANNs) have emerged with successful applications in nuclear physics as well as in many fields of science in recent years. In this paper, by using (ANNs), we have constructed a formula for the nuclear charge radii. Statistical modeling of nuclear charge radii by using ANNs has been seen as to be successful. Also, the charge radii, binding energies and two-neutron separation energies of Sn isotopes have been calculated by implementing of the new formula in Hartree-Fock-Bogoliubov (HFB) calculations. The results of the study shows that the new formula is useful for describing nuclear charge radii.Comment: 7 pages, 3 figure

Stratégies Des Femmes Dans La Lutte Contre La Pauvreté En Zone Urbaine : Cas De L’association Chigata De Natiokobadara Dans La Commune De Korhogo (Côte D’ivoire)

During these last years, the economic activity centres are relatively well developed in Ivorian big cities. They have significantly moved from the countryside to the urban zones. Today, the focus of domestic activities is located in the urban zones and about 60 % of the population from that area lives from it. The category of actors working in the sector is essentially constituted of women. Coming from diverse backgrounds, they implement several types of activities (market gardens, low-lying ground for rice crops, cassava production and processing for “attieke”, cashew nuts processing into butter). Which allow them to better promote the social well-being, taking them out of that cycle of poverty and place the economies on the path to sustainable growth. Since many year, for not being left out, a group of women who form the Association “Chigata” in the city of Korhogo was part of this dynamic focused on the fight against poverty, by the extraction of Shea butter. However, the day-to-day practice of this activity is compromised by many difficulties: use of traditional and archaic tools, difficult exiting of products due to the absence of machinery and roads, the absence of farms, the absence of a reliable market, the absence of training and guidance. This situation threatens women and makes them even more vulnerable. The desire of the research was to analyse the strategies of women's work, the related obstacles and the appropriate ways to strengthen this sector. The study is in three parts. The first part underlines the methodology; the second one is about the processing steps of the cashew nuts into butter and the third one deals with the commercialization strategies and recommendations

Some Decision Problems for Extended Modular Groups

In this paper we investigate solvability of the word problem for Extended Modular groups, Extended Hecke groups and Picard groups in terms of complete rewriting systems. At the final part of the paper we examine the other important decision problem (conjugacy problem) for only Extended Modular groups

The Determinants of Takeovers: Recent Evidence from U.S. Thrifts

This paper uses a two-step methodology to examine the relationship between managerial cost inefficiency and the takeover of U.S. thrifts during a period of market liberalization and widespread takeover activity, 1994 to 2000. In the first stage using stochastic cost frontiers, we estimate controllable managerial cost inefficiency scores for all stock firms operating each year in 1994 to 2000. In a second stage, we use these scores to examine correlates of takeovers, focusing on cost inefficiency. For takeovers by banks, we find a significant negative relationship between cost inefficiency and takeover, suggesting an exit of more cost efficient firms from the thrift industry during this period. However, takeovers by thrifts are associated with other characteristics

Conjugacy for Free Groups under Split Extensions

At the present paper we show that conjugacy is preserved and reflected by the natural homomorphism defined from a semigroup S to a group G, where G defines split extensions of some free groups. The main idea in the proofs is based on a geometrical structure as applied in the paper [8]

Managerial Stock Ownership As A Corporate Control Device: When Is Enough, Enough?

It has long been accepted that managerial stock ownership, beyond some range of possible entrenchment, can be an effective means of aligning the interests of professional managers with those of a firm’s outside owners to the benefit of firm performance. In this paper, we offer evidence on the effectiveness of managerial stock ownership as a corporate control device by analyzing the behavior of 81 thrift institutions operating over the six-year period, 1989-1994. Based on the estimation of stochastic cost and profit frontiers, as well as other performance measures, our results suggest that managerial stock ownership provides an effective corporate control device. However, this device is only effective as managerial holdings surpass about 33% of outstanding shares for improvements in cost efficiency and about 40% for profit efficiency

Stability and Transparency Analysis of a Teleoperation Chain For Microscale Interaction.

International audienceMicroscale teleoperation with haptic feedback requires scaling gains in the order of 104 107. These high gains impose a trade-off between stability and transparency. Due to the conservative approach used in most designs, transparency is reduced since damping is added to the system to guarantee stability. Starting from the fact that series, negative feedback and parallel connection of passive systems is a passive system, a new approach is addressed in this work. We propose here a complete teleoperation chain designed from the ground up for full transparency and stability, including a novel self-sensing probe and a high fidelity force-feedback haptic interface. By guaranteeing the passivity of each device and assuming that the human operator and the environment are passive systems, a homothetic direct coupling can be used without jeopardizing the stability and provides best transparency. The system is experimentally demonstrated in the complex case of a probe interacting with a water droplet under human control, while accurately transcribing the interaction back to operator

The next step of the word problem over monoids

It is known that a group presentation P can be regarded as a 2-complex with a single 0-cell. Thus we can consider a 3-complex with a single 0-cell which is known as a 3-presentation. Similarly, we can also consider 3-presentations for monoids. In this paper, by using spher- ical monoid pictures, we show that there exists a finite 3-monoid-presentation which has unsolvable ‘‘generalized identity problem’’ that can be thought as the next step (or one- dimension higher) of the word problem for monoids. We note that the method used in this paper has chemical and physical applications