Current Issue : January-March Volume : 2024 Issue Number : 1 Articles : 5 Articles
Under the UK Consumer Act 1974, obligors of Hire Purchase and Conditional Sale contracts are allowed to perform a Voluntary Termination (VT) once certain conditions are met. Upon such an event, lenders recover the underlying assets but are potentially liable to losses upon liquidation of the assets. This poses a challenge from a risk modelling perspective, as these financial products exhibit Credit (default) risk as well as VT risk, and these two events are mutually exclusive. In this paper, we propose a modelling framework to account for Credit/Default and VT risk for Retail portfolios, designed as a 2-factor Monte Carlo simulation of loan-level termination events. The paper concludes with numerical and backtesting results from a real-life implementation of such framework in the context of an automotive loan portfolio....
Virtual teams have increased over time due to globalization and advances in technology. With this article, we want to showcase the impact of the COVID-19 pandemic on the evolution of research in the field. To accomplish this aim, we continue the study presented in the article "Virtual Teams: Thematic Taxonomy, Constructs Model and Future Research Directions" prepared by Alaid, Alnsour and Alsharo, who researched virtual teams between the years 2007 and 2018. The systematic review of the literature was performed using the methodology proposed by Ramey and Rao, the same used in the aforementioned article. We applied inclusion and exclusion criteria after the initial data collection (n=996). The final sample of the articles analyzed was 18. We analyzed two types of categories, the constructs studied and their role in the empirical research. The most studied constructs after the pandemic are: cultural diversity, e-leadership, trust, performance, communication, social interaction, communication mediated by computer tools, and the adoption of virtual teams. We identified independent, dependent, moderating, and mediating variables. The wider number of dependent and independent variables demonstrates the expansion of the field of study. Moderation and mediation structures in research show that recent studies are more statistically sophisticated. These findings allowed for mapping the constructs, thus developing a conceptual model for virtual teams’ research which can be a starting point for the academic community. We also analyzed recent years’ papers according to the internal and external validity, and, based on the results, we provide suggestions for future research....
The systemic approach to quality in accordance with the requirements of the NATO-AQAP 2110 standardization document determines the need to implement additional requirements in the field of: risk management, configuration management, quality planning of measurement systems and metrological confirmations and reliability, going beyond the ISO 9001 standards. Quality requirements may pose a threat to products for the needs of the civil and military market. Improving the quality management system in accordance with ISO 9001, and especially AQAP 2110, defined as part of management aimed at increasing the ability to meet the quality requirements of products, determines the level of security of the military and civil market in the global dimension. Quality standards force you to demonstrate that your quality management system will be: effective, efficient, reliable, productive and economical. For this to happen, manufacturers are looking for methods and tools to meet the requirements of their customers at the appropriate quality level. Can we find universal tools to support entrepreneurs in their efforts to ensure product quality? The aim of the article is to analyze and indicate one of such system tools supporting the quality and safety of products/services. It is the configuration management system which plays a very important role in ensuring the quality requirements for products/services, in providing full information on the compliance of the product/service with its requirements and on the achieved functional and physical properties of the product throughout its life cycle. The test sample concerned a group of 120 Polish enterprises certified with ISO 9001 and AQAP 2110 quality management systems. The applied research methods were clearly selected for the specificity of the conducted research consisting in: analysis of normative, system and technical documents of the surveyed enterprises, audit evaluation by means of direct and indirect interviews with specialists and experts, observation on-site processes and activities, conclusions and generalizations based on the collected empirical data. The solutions contained in this study may have a practical dimension for enterprises focused on building relationships with customers and suppliers. A configuration management process implemented in the design and manufacturing processes can help ensure the quality requirements of products with regard to, among others: formulating requirements, stages of implementation, ways of confirming them and using documents....
The present research paper focuses on exploring the complex relationship between climate change and agricultural yields in Romania, having a speci%ic emphasis on cereal crops. The aim is to develop our understanding of the possible consequences of climate change on agricultural productivity, employing in this scope a thorough multiple regression analysis. The existing literature lacks suitable research on real-time forecasting of climate change in%luences on Romanian cereal yields using regression analysis, thus highlighting the signi%icance of the present study. Through multiple regression analysis of historical data on climate variables, cereal yields, and other factors, we seek to provide valuable insights into the potential impacts of climate change for policy makers, government of%icials, and future directions for researchers. The results are noteworthy, revealing that speci%ic climate variables signi%icantly in%luence cereal yield variations, yet there are additional variables that also play a role and warrant consideration....
In 2020, the emergence of the pandemic led to the implementation of measures to mitigate the spread of the virus, which ultimately affected all economic actors. The primary objective was to put the protection of lives first and foremost, which led to the unforeseen circumstances that are still visible today. In this study, we examine the changes in the asset turnover rates of the largest companies operating in the V4 countries. While some market players in the study have not experienced a negative shift in this indicator, others have been significantly affected by closures and precautionary measures. It is important to consider the perspective of the war in Ukraine, which adds another layer of complexity to the economic landscape. The ongoing conflict has contributed to regional instability and economic challenges, thus affecting the performance of businesses in the V4 countries. The combined impact of the pandemic and the war in Ukraine has created unprecedented circumstances that will require careful analysis in the future, but the scope of this publication did not allow for this....
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