scholarly journals Impact of Banking Competition on the Use of Soft Information

2019 ◽  
Vol 23 (2) ◽  
pp. 127-146
Author(s):  
Jérémie Bertrand ◽  
Jean-Christophe Statnik

Over the past 20 years, scholars have discussed the impact of banking competition on the choice between transactional and relationship lending technologies extensively, but no resolution has emerged. To address these questions, this article uses a new measure of relationship lending that accounts for the actual level of soft information that banks use in their loan pricing. With this new measure, the analysis reveals that banks prefer to implement relationship lending technology when competition is weak. In addition and in accordance with extant theoretical conclusions, the shape of the relationship between competition and relationship banking is nonlinear and concave.

Author(s):  
Pierluigi Murro ◽  
Valentina Peruzzi

AbstractUsing a unique sample of Italian manufacturing firms, we investigate the impact of relationship lending on firms’ use of trade credit. We find that firms maintaining close and long-lasting relationships with their main banks are associated with higher amounts of trade credit extended by suppliers. This result is robust to alternative measures of trade credit and relationship lending, and to different estimation techniques. We also analyze the mechanisms driving the association between relationship lending and the use of trade credit. Regression results suggest that the positive link between accounts payable and relationship lending is especially significant for firms that use to provide soft information to their lenders and for companies with greater relational abilities.Plain English Summary The existence of close and long lasting lending relationships positively affects the amount of trade credit manufacturing firms receive from their suppliers. By relying on the Survey on Italian Manufacturing Firms, we show that the positive link between relationship lending and the use of trade credit is driven by two channels: private information and relational capital. In a policy perspective, our findings reveal a need for banking regulation and supervision to encompass banking business models in evaluating banks. The current approach might not be suitable for local banks investing in soft information acquisition and could weaken SMEs’ chances to receive both bank financing and trade credit from suppliers. Moreover, from a managerial point of view, our results uncover the relevance of firms’ ability to create strong relationships with banks, suppliers, and other companies that may help alleviating financial constraints.


Blood ◽  
2020 ◽  
Vol 136 (Supplement 1) ◽  
pp. 9-10
Author(s):  
Kevin E Todd ◽  
Meghan E Mcgrady ◽  
Anne Blackmore ◽  
Carrie Hennessey ◽  
Lori Luchtman-Jones

Background: Medication nonadherence rates as high as 50-75% have been widely reported in children and adolescents with chronic medical conditions. Anticoagulation nonadherence is associated with increased morbidity and mortality from hemorrhagic and thrombotic complications, reported mostly in older adult populations. As direct oral anticoagulant use increases, it is critical that pediatric clinicians understand the prevalence, adverse sequelae, and predictors of nonadherence for various anticoagulants prescribed for children and young adults to facilitate self-management in this population. To begin to address these critical knowledge gaps, this study explored the frequency of reported barriers to anticoagulation adherence and the relationship between reported barriers and adherence among a cohort of children and young adults who were prescribed anticoagulants through a pediatric thrombosis clinic. Methods: Data for this abstract were collected as part of a quality improvement (QI) initiative in the pediatric thrombosis clinic from May 2019 to November 2019. This QI initiative included the administration of a self-report measure which asked families to rate the presence/absence of 19 barriers to adherence and respond to two items assessing adherence ("How many anticoagulation doses did you/your child miss in the past 7 days?"; "Did you/your child miss any anticoagulation doses in the past month?"). Patients aged > 10 years (yr.) and/or their caregivers (for patients 0-17 yr.) visiting the clinic for anticoagulation follow-up completed the measure. With IRB approval, results from 161 anonymous measures from 130 families (n = 37 caregivers; n = 62 patients; n = 31 patient/caregiver dyads) were analyzed. Descriptive statistics were used to summarize the most frequent barriers, rates of adherence, and concordance of barriers within patient/caregiver dyads. Linear regression was used to explore relationships between barriers and adherence after controlling for medication administration type (injections versus oral). To ensure only one measure per family was included in this analysis, the regression was run on the subset of measures completed by caregivers of children < 18 yr. and patients ≥ 18 yr. (n = 105 [37 caregivers + 62 patients + 31 caregivers from patient/caregivers dyad = 130 families; 130 - 25 families with missing adherence data = 105 families]). Results: Of 161 reporters, 120 reported at least 1 barrier. The most common barriers were medication side effects (n = 44), alterations in lifestyle secondary to medication (n = 44) and forgetting to take the medications (n = 37). The distributions of barriers by reporter and medication type are illustrated in Figure 1. Of 31 dyads, 26 reported 1 or more barriers. Only 6 caregiver/child dyads reported the same set of barriers. The remaining 77% (n = 20) of caregivers endorsed different barriers than their children. On average, patients and caregivers reported 1.85 barriers (SD = 1.95, range 0 - 10) and that they/their child took 96% of prescribed doses (SD= 9%, range = 71 - 100%). The linear regression was significant (F(2, 102) = 4.19, p = 0.02, R2 = 0.08). After controlling for medication type (p = 0.06), a greater number of barriers was significantly associated with lower adherence (t = -2.63, p = 0.01). Every one unit increase in total barriers (1 additional barrier reported) was associated with a decrease of .26% in adherence. Discussion: Although self-reported adherence was high, 75% of patients and caregivers reported 1 or more barriers to adherence. A greater number of barriers is associated with lower adherence, regardless of medication route, suggesting that addressing reported barriers might improve adherence. The spectrum of reported barriers was diverse, differing even within patient and caregiver dyads. Therefore, it is important to evaluate both patients and caregivers to fully assess the burden of barriers. Future studies are needed to evaluate the impact of addressing barriers and the relationship between anticoagulation adherence, barriers, and health outcomes. Figure 1 Disclosures Luchtman-Jones: Corgenix: Other: Provided discounted kits for study; Accriva Diagnostics: Other: Provided kits for study.


1987 ◽  
Vol 53 (4) ◽  
pp. 295-299 ◽  
Author(s):  
Marleen Pugach ◽  
Mara Sapon-Shevin

The calls for educational reform that have dominated the professional and lay literature for the past few years have been decidedly silent in discussing the role of special education either as a contributor or a solution to the problems being raised. As an introduction to this “Special Focus” on the relationship between general educational reform and special education, this article summarizes some of the more prominent reports with regard to their treatment (and nontreatment) of special education. The impact of proposed reforms for the conceptualization and operation of special education is the subject of the five articles that follow.


2016 ◽  
Vol 64 (8) ◽  
pp. 643 ◽  
Author(s):  
Christopher N. Johnson

Since the 1960s, Australian scientists have speculated on the impact of human arrival on fire regimes in Australia, and on the relationship of landscape fire to extinction of the Pleistocene megafauna of Australia. These speculations have produced a series of contrasting hypotheses that can now be tested using evidence collected over the past two decades. In the present paper, I summarise those hypotheses and review that evidence. The main conclusions of this are that (1) the effects of people on fire regimes in the Pleistocene were modest at the continental scale, and difficult to distinguish from climatic controls on fire, (2) the arrival of people triggered extinction of Australia’s megafauna, but fire had little or no role in the extinction of those animals, which was probably due primarily to hunting and (3) megafaunal extinction is likely to have caused a cascade of changes that included increased fire, but only in some environments. We do not yet understand what environmental factors controlled the strength and nature of cascading effects of megafaunal extinction. This is an important topic for future research.


2017 ◽  
Author(s):  
Μαντώ Λαμπροπούλου (Manto Lampropoulou)

Over the past two decades, utilities policy in Greece has been steadily shifting towards privatization and liberalization. This shift signified a critical reconsideration of the boundaries and the dynamics of the relationship between the state and the market in network industries. Public debate usually focuses on issues of ownership of public enterprises and economic performance. On the contrary, this book places the emphasis on the socio-economic implications of utilities policy for citizens. A key issue is the impact of privatization on the relationship between government (state), public enterprises (market) and citizens (society). The study covers the period from the post-war state monopolies to the current circumstances of mixed/private ownership of public enterprises and liberalized markets. The main questions addressed in this book are the following: What is the rationale (legitimization) for government intervention in the utilities sector? What are the politics of nationalization and privatization? How different policy contexts affect the institutional, organizational and regulatory framework of the utilities sector? Who are the key-stakeholders and policy actors? What is the role of citizens? What is the (re)distribution of utilities policy costs and benefits among stakeholders?


2017 ◽  
Vol 14 (3) ◽  
pp. 249-258 ◽  
Author(s):  
Andrea Quintiliani

This paper focuses on bank-firm relationship in an economic deeply changing environment. The objectives of the paper are two-fold: to understand, compared to the overall banking system, if the lending activities and economic-financial performances of Italian local banks have changed after the outbreak of the financial crisis; and to understand what are the conditions that allow to develop a model of a local bank capable of supporting the development routes of SMEs, by an appropriate risk/return profile. In order to answer the first research question, the paper presented an empirical analysis, covering the period 2007-2011, of Italian Cooperative Credit Banks (a particular category of local banks) compared with the system of bank groups with operability spread over much of the Italian territory and not. The empirical comparative analysis has the aim to see the effects of the crisis on the relationship bank-firm through the reading of the impact on the dynamics of lending and on the profiles of structure, riskiness, profitability and efficiency of the banks under examination. In order to provide an answer to the second research question, the paper provides some insight of evolutionary nature reflection in the bank-firm relationship. In accordance with the doctrinal postulates of the relationship lending the empirical analysis shows how the financial then real crisis has not induced Cooperative Credit Banks to restrict credit to local firms. The survey evidences have however highlighted some critical elements that are reflected inevitably on the local bank’s risk-return profile. Based only on quantitative data of statement, the empirical analysis represents a limit in this kind of research. This paper is useful to stimulate the debate of experts as well as to focus on the studies of local banks in particular in the light of their anti-cyclic role. Even if abounding in subjects about local banks and relationship lending literature faces only marginally the effects of global crisis on business profiles of local banks.


2012 ◽  
Vol 2 (1) ◽  
pp. 35 ◽  
Author(s):  
Tony Jaques

After almost 40 years of development, issue management has reached a point where it could either fade out of fashion or continue evolving into new forms. Reviewing both the past and possible future, four major trends are identified – migration of the discipline beyond the corporation to Government agencies and NGOs; the impact of social media and the rise of new community expectations; continuing developments in the relationship between issue management and crisis management; and the challenge of how issue management is positioned within organizations and among other management activities. Each of these trends is analysed to assess its impact on the future of issue management, and how the roles of corporate and non-corporate players will likely have significantly different influences on shaping its survival.


2019 ◽  
Vol 31 (4) ◽  
pp. 578-590
Author(s):  
Geoffrey Lewis ◽  
Steve Charters ◽  
Benoît Lecat ◽  
Tatiana Zalan ◽  
Marianna McGarry Wolf

Purpose Tasting experiments involving willingness to pay (WTP) have grown over the past few years; however, most of them occur in formal wine-tasting conditions, removed from real-world experience. This study aims to conduct experiments on wine appreciation and willingness to pay in both settings, to allow a comparison of how tasters reached conclusions in different situations. Design/methodology/approach The authors conducted two sets of experiments in Dijon, France, with knowledgeable wine drinkers, in 2014 and in 2016, to explore the relationship between wine ratings, WTP and objective characteristics (appellation, labelling and price). The first was in a formal wine-tasting setting (n = 58), and the second in the social setting of a restaurant (n = 52). The experiments involved deception: the tasters were presented with five wines, but in fact only three wines were involved, two of the wines being presented twice. Findings The results from the 2014 study showed that even with a group of experienced tasters, objective characteristics overwhelmed subjective assessment (taste, sensory perception) of the wine. Ratings and WTP were driven by the appellation or brand, labelling and price of the wines. The authors replicated the experiment in a social setting in 2016 which, contrary to their expectations, produced very similar results. In neither experiment did the experienced tasters detect the deception. Research limitations/implications The social setting was a lunch in a restaurant with a group of students who were graduating together. The tasting was conducted by some of their professors, which may have influenced the results and raises questions about whether the setting was truly ‘social’. The sample size for the experiments was comparatively small and further research, including novice and expert tasters, might contradict these findings, or at least add nuances to them. Originality/value The study finds that, contrary to expectations, in the social wine consumption setting of a restaurant meal enjoyed with colleagues, objective wine characteristics over-rode subjective appreciation of the wine.


1988 ◽  
Vol 4 (15) ◽  
pp. 258-263
Author(s):  
Paul Huntington

While statistical information on certain sectors of the British theatre is slowly becoming available – notably from the Arts Council and the Society of West End Theatre, as also from researchers in the Department of Arts Administration at the City University – few attempts have yet been made to draw useful conclusions from these figures, or to deduce how they might be helpful in terms of forward-planning and projections. In the following article. Paul Huntington examines the relationship between theatre revenue and total consumer expenditure, in the context of published figures which illustrate the changing national economic picture of the past decade. He examines not only the way in which these figures tend, naturally enough, to confirm certain expectations – for example, concerning the impact of tourism on the theatre – but also less expected findings, such as the relative upsurge in the fortunes of the regional theatres at a time of slump in the commercial sector of the West End.


2016 ◽  
Vol 5 (3) ◽  
pp. 254-272 ◽  
Author(s):  
Josh Matti ◽  
Amanda Ross

Purpose There are countless factors that affect where an entrepreneur chooses to open a business that have been studied in the literature, including local socio-economic conditions, government policy, and agglomeration economies. One important aspect to the location decision that has not received as much attention from researchers thus far is the impact of crime on entrepreneurship. The purpose of this paper is to discuss the current literature on this topic, with a particular emphasis on the empirical issues present that have likely caused the research in this area to be scarce. Design/methodology/approach The authors conduct an analysis of the current state of the literature examining the relationship between crime and entrepreneurship. Looking at what has been done in the past, as well as improvements in the data, the authors discuss what has been done and what can be done in the future. Findings The authors discuss areas related to entrepreneurship and crime that the authors see as an emerging literature, based largely on the improvements in data and identification strategies that allow the authors to answer questions that the authors previously could not. Originality/value This paper is a review of the current literature, which also discusses areas that future researchers should consider and analyze further.


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