Retained Earnings, Interest Rates and Lending Relationship

2018 ◽  
Vol 19 (1) ◽  
Author(s):  
Ariadna Dumitrescu
Keyword(s):  
Moral Hazard ◽  
Interest Rates ◽  
Optimal Contract ◽  
Financial Contracting ◽  
Hazard Characterization ◽  
The Difference ◽  
Retained Earnings ◽  
Positive Effect

Abstract This paper provides a moral hazard characterization of the effects of lending relationship on cost of funds. I develop a model that studies the problem of financial contracting between a bank and an entrepreneur and isolates the effect of the lending relationship on the interest rates. The main result is that a bank-entrepreneur relationship has a positive effect on the interest rates, the optimal contract specifying a decreasing sequence of interest rates. The possibility of the entrepreneur to use partially his retained earnings improves the terms of the contract between entrepreneur and lender by reducing the difference between the two interest rates.

scholarly journals Pengaruh Faktor Internal Spesifik Bank Terhadap Interest Rate di Perusahaan Sektor Perbankan

2019 ◽  
Vol 19 (1) ◽  
pp. 16
Author(s):  
Ilma Meidira Eprianto ◽  
Catur Rahayu Martiningtiyas
Keyword(s):  
Interest Rate ◽  
Credit Risk ◽  
Interest Rates ◽  
Design Methodology ◽  
Operational Efficiency ◽  
Internal Factors ◽  
Specific Factors ◽  
The Difference ◽  
The Interest Rate ◽  
Positive Effect

<p><strong>Abstrak</strong></p><p><strong>Tujuan</strong> - Penelitian ini bertujuan untuk mengetahui pengaruh faktor spesifik internal bank terhadap <em>interest rate</em>.</p><p><strong>Desain/Metodologi/Pendekatan</strong>  - Regresi data panel berganda yang digunakan  untuk mengukur pengaruh faktor spesifik internal bank seperti <em>liquidity</em>, <em>operational efficiency</em>, <em>credit risk</em>, <em>capitalization</em>, dan <em>lending out ratio</em> terhadap interest rate</p><p><strong>Hasil</strong> – Penelitian ini menemukan bahwa <em>efficiency</em> dan <em>credit</em> <em>risk</em> memiliki pengaruh positif yang signifikan terhadap <em>interest rate </em>sedangkan <em>liquidity</em>, <em>capitalization</em> dan <em>lending out ratio </em>tidak berpengaruh terhadap <em>interest rate</em>.</p><p><strong>Keterbatasan/Nilai </strong>– Pengukuran <em>interest rate</em> tidak menggunakan suku bunga sbi tetapi perhitungan selisih antara suku bunga pinjaman dan suku bunga deposito.</p><p><strong> </strong></p><p><strong>Abstract</strong></p><p><strong>Proposed</strong> - This study aims to determine the effect of bank's specific internal factors on interest rates.</p><p><strong>Design/Methodology/Approach</strong>  - Mutiple panel data was used to analyse bank internal specific factors, namely liquidity, operational efficiency, credit risk, capitalization, and lending out ratio to the interest rate.</p><p><strong>Result</strong>  – The results of this study indicate that efficiency and credit risk have a significant positive effect on interest rates while liquidity but capitalization and lending out ratio do not affect the interest rate</p><p><strong>Novelty/Value</strong> - Interest rate measurement does not use the SBI interest rate but calculates the difference between the loan interest rate and the deposit rate.</p>

scholarly journals Faktor-Faktor yang Mempengaruhi Investasi Swasta di Indonesia

TRIKONOMIKA ◽  
2013 ◽  
Vol 12 (1) ◽  
pp. 32
Author(s):  
Adrian Sutawijaya ◽  
Zulfahmi Zulfahmi
Keyword(s):  
Interest Rates ◽  
Foreign Exchange ◽  
Government Spending ◽  
Raw Materials ◽  
Private Investment ◽  
Least Square ◽  
Added Value ◽  
Private Sector Investment ◽  
The Difference ◽  
Positive Effect

Exports and investment play an important role in the economy of a country that is open. Exports will generate foreign exchange, foreign exchange to finance imports of capital goods and raw materials required in the production process that will create added value for the economy. The variables examined in this study is the difference in private sector investment plans, loan interest rates, government spending, and Gross Domestic Bruto (GDP). Research on the analysis using the method of least squares OLS (Ordinary Least Square). Results of regression test based on the theory, statistical and econometric criteria. The results of this study are interest rates significantly have a positive affect on the private investment. GDP will have a positive effect on investment and also government spending has a positive effect on private investment.

Analisis Karakterisasi Teknologi Direct Sequence Spread Spectrum Dan Frequency Hopping Spread Spectrum

2019 ◽  
Vol 2 (2) ◽  
pp. 129-138
Author(s):  
Fawzan Galib Abdul Karim Bawahab ◽  
Elvan Yuniarti ◽  
Edi Kurniawan
Keyword(s):  
Spread Spectrum ◽  
Communication Systems ◽  
Multiple Access ◽  
Frequency Hopping ◽  
Direct Sequence Spread Spectrum ◽  
Direct Sequence ◽  
Frequency Hopping Spread Spectrum ◽  
Two Systems ◽  
The Difference

Abstrak. Pada penelitian ini, telah dilakukan analisa karakterisasi pada teknologi Direct Sequence Spread Spectrum dan Frequency Hopping Spread Spectrum, sebagai salah satu teknik multiple-access pada sistem komunikasi. Karakterisasi dilakukan untuk mencari bagaimana cara meningkatkan keoptimalan kedua sistem tersebut, dalam mengatasi masalah interferensi dengan sistem dan channel yang sama. Dan juga untuk menentukan veriabel apa yang mempengaruhi keoptimalan kedua sistem tersebut. Karakterisasi dilakukan dengan menentukan variabel-variabel yang mempengaruhi keoptimalan keduanya. Hasil dari karakterisasi, diketahui variabel-variabel yang mempengaruhi kemampuan sistem DSSS yaitu nilai frekuensi spreading (). Sedangkan untuk sistem FHSS yaitu nilai frekuensi spreading ( dan ) dan selisih antara frekuensi hopping data dengan frekuensi hopping interferensi . Kata Kunci: BER, DSSS, FHSS, Interference, Spread spectrum. Abstract. In this study, characterization of Direct Sequence Spread Spectrum and Frequency Hopping Spread Spectrum technologies have been done, as one of the multiple-access techniques in communication systems. Characterization is done to find out how to improve the ability of the two systems, in solving interference problems with the same system and channel. And also to determine what veriabel affects the ability of the two systems. Characterization is done by determining the variables that affect the ability of both. The results of the characterization, known variables that affect the ability of the DSSS system are the spreading frequency value (). As for the FHSS system, the spreading frequency value ( and ) and the difference between frequency hopping data with frequency hopping interference .

The Demand For Money in Pakistan: Reply (Notes and Comments)

1975 ◽  
Vol 14 (3) ◽  
pp. 370-375
Author(s):  
M. A. Akhtar
Keyword(s):  
Interest Rates ◽  
Money Demand ◽  
Strong Support ◽  
Physical Capital ◽  
Careful Examination ◽  
Demand For Money ◽  
Weak Support ◽  
Complementarity Hypothesis ◽  
The Difference ◽  
The One

I am grateful to Abe, Fry, Min, Vongvipanond, and Yu (hereafter re¬ferred to as AFMVY) [1] for obliging me to reconsider my article [2] on the demand for money in Pakistan. Upon careful examination, I find that the AFMVY results are, in parts, misleading and that, on the whole, they add very little to those provided in my study. Nevertheless, the present exercise as well as the one by AFMVY is useful in that it furnishes us with an opportunity to view some of the fundamental problems involved in an empi¬rical analysis of the demand for money function in Pakistan. Based on their elaborate critique, AFMVY reformulate the two hypo¬theses—the substitution hypothesis and the complementarity hypothesis— underlying my study and provide us with some alternative estimates of the demand for money in Pakistan. Briefly their results, like those in my study, indicate that income and interest rates are important in deter¬mining the demand for money. However, unlike my results, they also suggest that the price variable is a highly significant determinant of the money demand function. Furthermore, while I found only a weak support for the complementarity between money demand and physical capital, the results obtained by AFMVY appear to yield a strong support for that rela¬tionship.1 The difference in results is only a natural consequence of alter¬native specifications of the theory and, therefore, I propose to devote most of this reply to the criticisms raised by AFMVY and the resulting reformulation of the two mypotheses.

P-Removal in Completely Mixed Systems

1985 ◽  
Vol 17 (11-12) ◽  
pp. 325-326 ◽  
Author(s):  
H J. G. W. Donker ◽  
P. Opic ◽  
H. P. de Vries
Keyword(s):  
Mixed System ◽  
Domestic Waste ◽  
Recirculation Flow ◽  
Start Up ◽  
Significant Difference ◽  
Aerobic Reactor ◽  
The Difference ◽  
Positive Effect ◽  
Mixed Systems ◽  
P Removal

Ca. 60 % of the Dutch activated sludge plants consist of completely mixed systems, experiments have been carried out in completely mixed pilot plants to study the biological P-removal. The research was carried out in two pilot plants. The pilot plants consisted of: anaerobic reactor, anoxic reactor, aerobic reactor and a clarifier. All the reactors were completely mixed. Both plants were fed with settled domestic waste water at a sludge loading of 400 and 250 g COD/kg sludge.day respectively. The results are given below:sludge loading (g COD/kg sludge.day)400400250ratio Anaerobic : Anoxic : Aerobic1: 1:2,71:1:4,11:1:2,7P-removal (%)802875N-removal (%)505065COD-removal (%)858585 It has been shown that there is no significant difference between the results at the two different sludge loadings. Remarkable is the difference between the ratio 1:1:2,7 in combination with the internal recirculation flow anoxic-anaerobic of 160 % and the ratio 1:1:4,1 with a recirculation flow of 30 %. During the start-up at a sludge loading of 250 g COD/kg sludge.day and an internal recirculation flow of 30 %, bulking sludge developed almost immediately. The Premoval was completely disturbed. Increasing the internal recirculation flow to 160% had a positive effect on settling properties and P-removal. This investigation has pointed out that a completely mixed system is suitable for biological P-removal, without negatively affecting the nitrification. Important factors in the process are the ratio anaerobic:anoxic:aerobic and the recirculation flows.

Characterization of the surface of hydrodesulphurization catalysts by adsorption of hydrocarbons

1984 ◽  
Vol 49 (2) ◽  
pp. 410-420
Author(s):  
Eva Hillerová ◽  
Miroslav Zdražil
Keyword(s):  
Hydrogen Sulphide ◽  
Chromatographic Method ◽  
Supported Catalysts ◽  
Alumina Surface ◽  
Reversible Adsorption ◽  
The Difference

Reversible adsorption of heptane and benzene on model and industrial hydrodesulphurization molybdena catalysts has been studied by elution chromatographic method at 150 °C. An increase in the adsorption of heptane on sulphidation of adsorbents was small for Al2O3 and great for MoO3. Supported catalysts behaved as mixture of Al2O3 and MoO3.The portion of surface which can be transformed by sulphidation into MoS2 ranged from 0 to 65% for individual commercial catalysts, as determined from the change in heptane adsorption after sulphidation of a given sample. The polarity of catalysts, including their acidity, was estimated from the difference between adsorption of benzene and heptane. The polarity of model and industrial catalysts in oxidic form was similar to that of alumina in most cases. The decrease in the polarity after sulphidation of the adsorbents was small for Al2O3 and great for MoO3. The decrease in polarity resulting from sulphidation of supported catalysts was relatively small, since the reaction of MoO3 monolayer with hydrogen sulphide leads to partial reformation of the alumina surface. The acidity of supported sulphided hydrodesulphurization catalysts has been shown by this method to be comparable with the acidity of the support itself.

Synthesis and characterization of a series of 1-methyl-4-[2-aryl-1-diazenyl]piperazines and a series of ethyl 4-[2-aryl-1-diazenyl]-1-piperazinecarboxylates

2004 ◽  
Vol 82 (8) ◽  
pp. 1294-1303 ◽  
Author(s):  
Vanessa Renée Little ◽  
Keith Vaughan
Keyword(s):  
Free Energy ◽  
Chemical Shifts ◽  
Linear Free Energy Relationship ◽  
Piperazine Ring ◽  
Linear Free Energy ◽  
In Series ◽  
Methylene Groups ◽  
Diazonium Coupling ◽  
The Difference

1-Methylpiperazine was coupled with a series of diazonium salts to afford the 1-methyl-4-[2-aryl-1-diazenyl]piperazines (2), a new series of triazenes, which have been characterized by 1H and 13C NMR spectroscopy, IR spectroscopy, and elemental analysis. Assignment of the chemical shifts to specific protons and carbons in the piperazine ring was facilitated by comparison with the chemical shifts in the model compounds piperazine and 1-methylpiperazine and by a HETCOR experiment with the p-tolyl derivative (2i). A DEPT experiment with 1-methylpiperazine (6) was necessary to distinguish the methyl and methylene groups in 6, and a HETCOR spectrum of 6 enabled the correlation of proton and carbon chemical shifts. Line broadening of the signals from the ring methylene protons is attributed to restricted rotation around the N2-N3 bond of the triazene moiety in 2. The second series of triazenes, the ethyl 4-[2-phenyl-1-diazenyl]-1-piperazinecarboxylates (3), have been prepared by similar diazonium coupling to ethyl 1-piperazinecarboxylate and were similarly characterized. The chemical shifts of the piperazine ring protons are much closer together in series 3 than in series 2, resulting in distortion of the multiplets for these methylenes. It was noticed that the difference between these chemical shifts in 3 exhibited a linear free energy relationship with the Hammett substituent constants for the substituents in the aryl ring. Key words: triazene, piperazine, diazonium coupling, NMR, HETCOR, linear free energy relationship.

scholarly journals Modulation of Gut Microbiota and Oxidative Status by β-Carotene in Late Pregnant Sows

2020 ◽  
Vol 7 ◽  
Author(s):  
Xupeng Yuan ◽  
Jiahao Yan ◽  
Ruizhi Hu ◽  
Yanli Li ◽  
Ying Wang ◽  
...  
Keyword(s):  
Gut Microbiota ◽  
Dietary Supplementation ◽  
Basal Diet ◽  
Fecal Microbiota ◽  
Control Group ◽  
Metabolic Activities ◽  
The Impact ◽  
Positive Effect ◽  
Β Carotene

Recent evidences suggest that gut microbiota plays an important role in regulating physiological and metabolic activities of pregnant sows, and β-carotene has a potentially positive effect on reproduction, but the impact of β-carotene on gut microbiota in pregnant sows remains unknown. This study aimed to explore the effect and mechanisms of β-carotene on the reproductive performance of sows from the aspect of gut microbiota. A total of 48 hybrid pregnant sows (Landrace × Yorkshire) with similar parity were randomly allocated into three groups (n = 16) and fed with a basal diet or a diet containing 30 or 90 mg/kg of β-carotene from day 90 of gestation until parturition. Dietary supplementation of 30 or 90 mg/kg β-carotene increased the number of live birth to 11.82 ± 1.54 and 12.29 ± 2.09, respectively, while the control group was 11.00 ± 1.41 (P = 0.201). Moreover, β-carotene increased significantly the serum nitric oxide (NO) level and glutathione peroxidase (GSH-Px) activity (P &lt; 0.05). Characterization of fecal microbiota revealed that 90 mg/kg β-carotene increased the diversity of the gut flora (P &lt; 0.05). In particular, β-carotene decreased the relative abundance of Firmicutes including Lachnospiraceae AC2044 group, Lachnospiraceae NK4B4 group and Ruminococcaceae UCG-008, but enriched Proteobacteria including Bilophila and Sutterella, and Actinobacteria including Corynebacterium and Corynebacterium 1 which are related to NO synthesis. These data demonstrated that dietary supplementation of β-carotene may increase antioxidant enzyme activity and NO, an important vasodilator to promote the neonatal blood circulation, through regulating gut microbiota in sows.

scholarly journals Grounding semantic transparency in context

Morphology ◽  
2021 ◽  
Author(s):  
Rossella Varvara ◽  
Gabriella Lapesa ◽  
Sebastian Padó
Keyword(s):  
Large Scale ◽  
Point Of View ◽  
Distributional Semantics ◽  
Semantic Transparency ◽  
Inclusion Measure ◽  
The Difference ◽  
Semantic Point ◽  
The Many ◽  
The Relationship

AbstractWe present the results of a large-scale corpus-based comparison of two German event nominalization patterns: deverbal nouns in -ung (e.g., die Evaluierung, ‘the evaluation’) and nominal infinitives (e.g., das Evaluieren, ‘the evaluating’). Among the many available event nominalization patterns for German, we selected these two because they are both highly productive and challenging from the semantic point of view. Both patterns are known to keep a tight relation with the event denoted by the base verb, but with different nuances. Our study targets a better understanding of the differences in their semantic import.The key notion of our comparison is that of semantic transparency, and we propose a usage-based characterization of the relationship between derived nominals and their bases. Using methods from distributional semantics, we bring to bear two concrete measures of transparency which highlight different nuances: the first one, cosine, detects nominalizations which are semantically similar to their bases; the second one, distributional inclusion, detects nominalizations which are used in a subset of the contexts of the base verb. We find that only the inclusion measure helps in characterizing the difference between the two types of nominalizations, in relation with the traditionally considered variable of relative frequency (Hay, 2001). Finally, the distributional analysis allows us to frame our comparison in the broader coordinates of the inflection vs. derivation cline.

Sign in / Sign up

Export Citation Format

Share Document