Current Issue : October - December Volume : 2019 Issue Number : 4 Articles : 5 Articles
In common portfolio theory1, a significant reduction of risk is expected when\ninvestments are split into two or more positions. A lower correlation between\npositions results in a higher risk-reducing portfolio effect. The credit risk of a\nportfolio is dependent on the default risk of all its issuers. By investing in two\ndifferent debtors instead of only one, the probability of the total loss is significantly\nreduced and a debtor concentration is prevented. Concentration\nrisk can be reduced by diversifying the portfolio. How can concentration risk\nbe defined in a quantitative way? The aim of this paper is to determine a key\nfigure, which makes concentration risk measurable....
Vietnam has opened its doors to innovation for the past 32 years and has affirmed\nthat the Communist Party and governmentâ??s reform methodologies\nhave brought with them countless achievements. The economy has been\nopened up and at the same time it has welcomed cultural waves from other\ncountries. The Vietnamese culture, while preserving its own identity, has\nbeen embracing the cultural quintessence of other races. This cultural interference\nthat has formed and brought more clarity in the cultural and spiritual\nlife of the society, is a driving force for economic development. This article\naims to find the answer to the question: How do the Vietnamese and the\nworld cultural interactions promote and motivate Vietnamâ??s economic development\nat present and in future. Hence, the article is organized into three\nmain parts: Firstly, the introduction introduces the significance and purpose\nas well as limitation of the article. Secondly, Culture and cultural interference\nreviews some definitions, theories, principles and discuss more about them.\nThirdly, Practice present analyzing the Vietnam phenomenon in aspects like\nculture and economy. Finally, Suggestion will discuss solutions for cultural\ninterference in Vietnam....
We examined three cases of Schully model [1] [2] for Mongolian economy. In\nthe first case, we consider the production function with constant returns to\nscale. In the second case, we employ an econometric model for the production\nfunction with none constant return to scale without constraints on parameters\nof elasticities. Finally, the constrained regression model has been\nimplemented by solving a convex minimization problem over a convex set.\nAlso, we have proved that Schully production function namely, â??U shape\nfunctionâ? in the literature [1] [2] [3] in fact is concave function under some\nassumptions....
This study examined tax revenue and budget implementation in Nigeria.\nSecondary method of data collection was adopted for a period of 40 quarters\nfrom 2008Q1 to 2017Q4. The study made use of Fully Modified Least Square\n(FMOLS) and Error Correction Model (ECM) based on ARDL approach, after\nconducted pretest such as unit root test, and co-integration test. Result\nshowed that tax revenue including petroleum profit tax and company income\ncontributes positively and significantly to capital budget implementation in\nNigeria, while custom and excise duties significantly and negative affect capital\nbudget implementation in Nigeria; that custom & excise duties as well as\nvalue added tax contributes significantly and positively to recurrent budget\nimplementation in Nigeria, while tax revenue from petroleum profit tax significantly\nand negatively influences recurrent budget implementation in the\ncountry. Hence the study recommends that government should engage more\nof tax revenue generated from both petroleum profit tax and company income\ntax toward capital projects in the country, rather than recurrent expenditure\nand collection cost minimization strategy should be device by government\nthrough the federal inland revenue services and other tax regulatory\nbodies especially in terms of both customs & excise duties and value added\ntax, so as to ensure that proceed from these sources can contribute largely to\ncapital budget implementation....
This paper aims to estimate the impact of economic and financial crises on the\nunemployment rate in the European Union, taking also into consideration the institutional\nspecificities, since unemployment was the main channel through which the economic and\nfinancial crisis influenced the social developments.. In this context, I performed two\ninstitutional clusters depending on their inclusive or extractive institutional features and, in\neach cases, I computed the crisis effect on unemployment rate over the 2003-2017 period.\nBoth models were estimated by using Panel Estimated Generalized Least Squares method,\nand are weighted by Period SUR option in order to remove, in advance the possible\ninconveniences of the models. The institutions proved to be a relevant criterion that drives\nthe impact of economic and financial crises on the unemployment rate, highlighting that\ncountries with inclusive institutions are less vulnerable to economic shocks and are more\nresilient than countries with extractive institutions. The quality of institutions was also\nfound to have a significant effect on the response of unemployment rate to the dynamic of\nits drivers....
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