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AI-based Compliance Automation in Commercial Bank: How the Silicon Valley Bank Provided a Cautionary Tale for Future Integration 商业银行基于人工智能的合规自动化:硅谷银行如何为未来的整合提供警示
Pub Date : 2023-06-28 DOI: 10.20849/iref.v7i1.1356
Bingbo Hu, Yi Wu
Silicon Valley Bank's failure serves as a poignant reminder of the criticality of regulatory compliance and the potential risks that arise from non-compliance. The incident underscores the importance of financial institutions regularly reviewing and adjusting their investment strategies to align with evolving market conditions and risk tolerance levels. In this context, the adoption of advanced technologies such as Financial Enterprise Control Intelligence (FECI) systems becomes imperative. FECI systems are specifically designed to assist financial institutions in effectively managing regulatory compliance and risk management processes. By incorporating advanced technologies like artificial intelligence and data analytics, these systems automate and streamline various aspects of compliance and risk analysis.
硅谷银行的失败深刻地提醒人们,遵守监管的重要性,以及不遵守监管可能带来的潜在风险。这一事件凸显了金融机构定期审查和调整其投资策略的重要性,以配合不断变化的市场状况和风险承受水平。在这种情况下,采用先进的技术,如金融企业控制智能(FECI)系统变得势在必行。FECI系统是专门为帮助金融机构有效管理法规遵从性和风险管理流程而设计的。通过结合人工智能和数据分析等先进技术,这些系统自动化并简化了合规和风险分析的各个方面。
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引用次数: 2
Threshold Effect in the Bank Lending Channel of Monetary Policy Transmission and the Role of Bank Portfolio Deterioration: A PSTR Specification in the WAEMU Zone 货币政策传导中银行贷款渠道的门槛效应及银行资产组合恶化的作用:东亚货币联盟地区的PSTR规范
Pub Date : 2023-06-28 DOI: 10.20849/iref.v7i1.1355
Y. Prao, Brou Emmanuel Aka, N’guessan Ferdinand Nicaise Dja
The objective of this paper is to analyse the influence of monetary policy on credit supply in the WAEMU zone over the period 1996-2017. The study focuses on the WAEMU countries, except for Guinea-Bissau, due to the unavailability of sufficient data. We apply the Panel Smooth Transition Regression (PSTR) model of Gonzalez et al. (2005). The results reveal the non-linearity of the link between monetary policy and credit supply. There is a threshold of credit risk exposure of 8.726% above which monetary policy loses its effectiveness. Indeed, monetary policy has a positive effect on the supply of credit when the value of the gross bank portfolio deterioration rate is less than or equal to the threshold of 8.726% and an insignificant effect above this threshold. Above this threshold, the link between monetary policy and bank credit supply is distended. In this case, it is the level of economic activity that stimulates the supply of bank credit in this area. These results indicate that the effectiveness of the monetary policy conducted by the Central Bank of West African States (BCEAO), through the bank credit channel, should take into account the level of credit risk attained by banks. Thus, the study recommends that the authorities further strengthen prudential supervision within the WAEMU.
本文的目的是分析1996-2017年期间货币政策对WAEMU地区信贷供应的影响。由于缺乏足够的数据,本研究的重点是西非货币联盟国家,但几内亚比绍除外。我们采用Gonzalez等人(2005)的面板平滑过渡回归(PSTR)模型。研究结果揭示了货币政策与信贷供给之间的非线性关系。信用风险暴露阈值为8.726%,超过该阈值,货币政策将失去有效性。事实上,当银行总资产组合恶化率值小于等于8.726%阈值时,货币政策对信贷供给有正向影响,高于该阈值时,货币政策对信贷供给的影响不显著。超过这个门槛,货币政策与银行信贷供应之间的联系就会扩大。在这种情况下,刺激该地区银行信贷供应的是经济活动水平。这些结果表明,西非国家中央银行(BCEAO)通过银行信贷渠道实施的货币政策的有效性应考虑到银行所达到的信用风险水平。因此,研究建议当局进一步加强东亚货币联盟内部的审慎监管。
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引用次数: 0
The Impact of Supplier Base Consolidation on Procurement, Delivery, and Production Costs: Supply Chain Operations Optimization and Vendor Consolidation 供应商基础整合对采购、交付和生产成本的影响:供应链运营优化和供应商整合
Pub Date : 2022-12-30 DOI: 10.20849/iref.v6i4.1304
Kenechukwu Nwuka Ochonogor, G. Osho, C. Anoka, O. J. Dieli
With all these mergers and acquisitions, it is particularly important to consolidate and manage the number of vendors inherited or absorbed via these acquisitions. This is also an avenue to build strong relationships with their selected suppliers because working with fewer vendors helps to optimize their entire supply chain and improves efficiency across procurement, delivery, production, assets management, and customer satisfaction. Another benefit will come from increased discounts due to preferential, scale, and volume pricing not to mention cost reduction in the areas of their supply chain management. Some companies have production plants in Texas, Tennessee, Florida, Ohio, Indiana, China, Canada, Mexico, and India, and the main aim is to identify suppliers close to those plants and streamline their logistics and distribution cost. There is also a high level of l risk associated with this exercise, If the supply is interrupted for any re-organization will face lots of difficulties meeting up demand, the absence of healthy competition will diminish the ability to negotiate SLAs (Service Level Agreements), and pricing against a supplier competitor but the business goal is to: Invest in Innovations, research and develop new products to be able to remain competitive, this cannot be achieved without the optimization of Procurement, Sourcing and Vendor Management. Be able to automate Procurement and Sourcing operations to increase business dynamism. This consolidation will reduce costs and free up funds to achieve their broader business goal and a bloated suppliers portfolio scattered all over the world conceals a lot of opportunities to get more with less. There were lots of political issues uncovered and encountered during this project which was anticipated but was carefully managed. Companies should think ahead and move from strong market position, growth, and reaching critical customers to accelerating profitable growth. Push the organization from a push/OEM channels a to pull strategy a with focus on end users. Ensure their product offering moves from a specific specialized brand to global recognition. Strong technological know-how to become a true and trusted innovative leader. Move from presence in new markets to leader in all markets. It is also advisable for companies to consider Vertical Integration which is a different alternative to Supplier Consolidation, and conduct financial and regression analyses for better decision-making and recommendations that will give a very big boast to their bottom line. This integration will avoid any supply disruption and organizations will have full control of their supply chain. Since Suppliers are known to dictate terms, pricing, and availability of materials, with this Integration, costs will be reduced, and production slowdowns caused by negotiations and other internal tussles will be prevented. This does not go without some risks because there is always a huge capital investment to set this up, to b
在所有这些合并和收购中,整合和管理通过这些收购继承或吸收的供应商数量尤为重要。这也是与他们选择的供应商建立牢固关系的途径,因为与较少的供应商合作有助于优化他们的整个供应链,并提高采购、交付、生产、资产管理和客户满意度的效率。另一个好处是由于优惠、规模和批量定价而增加的折扣,更不用说供应链管理领域的成本降低了。一些公司在德克萨斯州、田纳西州、佛罗里达州、俄亥俄州、印第安纳州、中国、加拿大、墨西哥和印度设有生产工厂,其主要目的是确定靠近这些工厂的供应商,并简化其物流和分销成本。与此练习相关的风险也很高,如果任何重组的供应中断将面临满足需求的许多困难,缺乏健康的竞争将削弱sla(服务水平协议)的谈判能力,以及针对供应商竞争对手的定价,但业务目标是:投资于创新,研究和开发新产品,以保持竞争力,这离不开采购,采购和供应商管理的优化。能够自动化采购和采购操作,以增加业务活力。这种整合将降低成本,释放资金,以实现更广泛的业务目标,而分散在世界各地的臃肿的供应商组合隐藏了许多以更少的成本获得更多的机会。在这个项目中发现和遇到了许多政治问题,这些问题是可以预料到的,但得到了精心管理。公司应该提前考虑,从强大的市场地位、增长和获得关键客户转向加速盈利增长。推动组织从推/OEM渠道a转向拉策略a,关注最终用户。确保他们的产品从一个特定的专业品牌发展到全球认可。强大的技术诀窍,成为真正值得信赖的创新领导者。从新市场的存在到所有市场的领导者。对于公司来说,考虑垂直整合也是可取的,这是供应商整合的另一种选择,并进行财务和回归分析,以获得更好的决策和建议,这将给他们的底线带来很大的提升。这种整合将避免任何供应中断,组织将完全控制他们的供应链。由于众所周知,供应商决定了条款、定价和材料的可用性,通过这种整合,成本将会降低,并且由于谈判和其他内部纠纷而导致的生产放缓将会被避免。这并非没有风险,因为建立工厂、购买工厂、确保工厂高效运行,总是需要巨额的资本投资。
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引用次数: 0
Estimating Sovereign Credit Rating: Is Kuwait Overrated? 评估主权信用评级:科威特被高估了吗?
Pub Date : 2022-10-30 DOI: 10.20849/iref.v6i4.1306
M. AlAli
Despite all the criticism surrounding the reliability of credit rating agencies’ rating systems, these agencies' ratings still play an essential role in determining the cost of funding for government bonds. These agencies are also accused of not applying the same standards for all countries resulting in mis-rating causing a disturbance in these countries economic and financial systems. Countries try their best to obtain the highest rating possible to reduce their cost of borrowing and increase the demand for their bonds in the global financial market. This research is set to examine whether or not Kuwait is getting a favorable sovereign credit rating from the three largest credit rating agencies. Using a panel data regression for 40 countries for the year 2017, results revealed that Kuwait enjoyed a favorable treatment from the three major credit rating agencies where it was rated by an average of 3.18 notches higher than what it should be. The results also indicates that Kuwait did not take advantage of its inflated credit rating and the policy makers did not address the factors that would improve their credit rating and as a result Kuwait sovereign credit rating was downgraded by all three credit rating agencies in 2022.
尽管人们对信用评级机构评级系统的可靠性提出了种种批评,但这些机构的评级在决定政府债券融资成本方面仍发挥着至关重要的作用。这些机构还被指责没有对所有国家采用相同的标准,导致评级错误,从而扰乱了这些国家的经济和金融体系。各国尽最大努力获得尽可能高的评级,以降低其借款成本,并增加全球金融市场对其债券的需求。此次调查的目的是调查科威特是否从三大信用评价机构获得了良好的国家信用等级。使用2017年40个国家的面板数据回归,结果显示科威特享有三大信用评级机构的优惠待遇,其评级平均比应有的评级高出3.18个等级。结果还表明,科威特没有利用其膨胀的信用评级,政策制定者没有解决提高其信用评级的因素,结果科威特的主权信用评级在2022年被所有三个信用评级机构下调。
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引用次数: 0
An Analytic Review of Brick’s “Political Economy of Customary Organizations in Rural Afghanistan” 布里克《阿富汗农村习惯法组织的政治经济学》分析述评
Pub Date : 2022-08-01 DOI: 10.20849/iref.v6i3.1274
Yifan Wei
This paper discusses The Political Economy of Customary Organizations in Rural Afghanistan by Jennifer Brick (2008) (hereafter, “the work”), which tries to ascertain whether public goods can be provided in a failed state and proposes a mechanism that provides social order as a public good. Brick achieves this by studying customary and non-customary organisations in rural Afghanistan and develops a theory to explain when a rural local authority might fulfil the purpose of public provision and governance. This paper demonstrates and analyses Brick’s findings, and proposes one main criticism to Brick’s quantitative research method.
本文讨论了Jennifer Brick(2008)的《阿富汗农村习惯组织的政治经济学》(以下简称“该作品”),该作品试图确定公共产品是否可以在失败的国家中提供,并提出了一种将社会秩序作为公共产品提供的机制。布里克通过研究阿富汗农村地区的习惯组织和非习惯组织实现了这一目标,并发展了一种理论来解释农村地方当局何时可能实现公共供应和治理的目的。本文对布里克的研究结果进行了论证和分析,并对布里克的定量研究方法提出了一个主要批评。
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引用次数: 0
A Literature Review of CSR Disclosure Quality: Evidence From Restatements 企业社会责任披露质量:来自重述的证据
Pub Date : 2022-08-01 DOI: 10.20849/iref.v6i3.1275
Taizhe Yuan
In the preceding 20 years, CSR reporting has made significant strides. This study examines the quality of CSR disclosure from the perspective of CSR restatements after reviewing prior literature. Long-term improvement in enterprises’ quality of CSR disclosure is believed to be made possible by more advanced reporting requirements, improved services from skilled auditors, and continuously evolving CSR reporting systems.
在过去的20年里,企业社会责任报告取得了重大进展。本研究在回顾前人文献的基础上,从企业社会责任重述的角度考察企业社会责任披露的质量。企业社会责任披露质量的长期改善可以通过更先进的报告要求、熟练的审计师提供更好的服务以及不断发展的社会责任报告制度来实现。
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引用次数: 0
Are Neighborhood Features Associated With Premature Mortality in Toronto Neighborhoods? 多伦多社区的邻里特征与过早死亡率有关吗?
Pub Date : 2022-08-01 DOI: 10.20849/iref.v6i3.1252
Zhehui Zhao, Jingxin Yuan
Objective: The relationship between neighborhood social and economic features and the residents’ premature mortality rate is a controversial topic that has brought concerns from many local governments. The purpose of this paper was to determine the impacts of three indicators, including numbers of health providers, numbers of drug arrests, and neighborhood equity scores on premature mortality in the 140 neighborhoods in the City of Toronto.Methods: Conducting regression analysis by using the data from January 2018 to December 2018 obtained from OpenData Toronto. The number of health providers, which shows how many medical service sectors the local community has is generated into a dummy variable (<1.5 or ≥1.5 health providers per 1000 people), and all datasets are cleaned into the same unit, which is per thousand people. Both single regressions and multiple regression are used to compare the change in premature mortality rate, which means the deaths occurred before 70 years old.Results: Taking all indicators into weighted consideration, the empirical evidence shows that the premature mortality rate increased by 4% on average with every one additional drug arrest incident occurring per thousand people while with every additional health provider per one thousand citizens, the premature mortality rate will decrease by 10% on average; In terms of neighborhood equity score, one point increase is associated with a roughly 1% decrease in premature mortality rate on average.Conclusion: Social and economic factors are closely associated with the local premature mortality rate and actively improving the local living conditions can decrease the premature mortality rate while preventing serious issues before it actually occurs.
目的:社区社会经济特征与居民过早死亡率之间的关系是一个有争议的话题,引起了许多地方政府的关注。本文的目的是确定三个指标对多伦多市140个社区的过早死亡率的影响,包括医疗服务提供者的数量,毒品逮捕的数量和社区公平得分。方法:利用2018年1月至2018年12月多伦多开放数据中心的数据进行回归分析。显示当地社区拥有多少医疗服务部门的卫生服务提供者数量被生成一个虚拟变量(每1000人<1.5或≥1.5个卫生服务提供者),所有数据集被清理为同一单位,即每1000人。使用单回归和多元回归来比较过早死亡率的变化,过早死亡率意味着死亡发生在70岁之前。结果:将所有指标加权考虑后,经验证据表明,每千人每增加一次毒品逮捕事件,过早死亡率平均上升4%;每千人每增加一次医疗服务提供者,过早死亡率平均下降10%;就邻里公平得分而言,每增加一分,平均过早死亡率就会下降约1%。结论:社会经济因素与当地早亡率密切相关,积极改善当地生活条件可降低早亡率,防患于未然。
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引用次数: 0
Business Process Outsourcing (BPO): Current and Future Trends 业务流程外包(BPO):当前和未来趋势
Pub Date : 2022-08-01 DOI: 10.20849/iref.v6i3.1253
Jiaxing (Dux) Du, Lijun Miao
Business process outsourcing (BPO) is a widely popular way that companies are conducting business all around the world. Employing such techniques can have a dramatic effect on your bottom line, but also open you up to many more advantages that ultimately help your business function more efficiently. The purpose of this report is to critically review past literature on the topic to gain a better understanding of why businesses will choose to outsource processes. This report will also seek to provide greater insights into the effects outsourcing has on the company and also the host country being outsourced. We found that there is an overwhelming trend to outsource processes from Australia and that brings other benefits such as getting closer to new market opportunities. The main body of this report outlines when and why a company should choose to outsource and the decision-making rationale around such concepts. Research also indicated that there is a booming industry for companies that assist in aiding the outsourcing process and connecting you with partners in various host nations. This report discovered that there are also some ethical and moral obligations that need to be carefully considered as recent criticisms have damaged the reputations of some businesses. Overall, the implications of our research hovered around a few key findings, the cost benefits associated with outsourcing and the greater efficiencies and quality in tasks that can be utilized in partnering with the right host company.
业务流程外包(BPO)是世界各地公司开展业务的一种广泛流行的方式。使用这样的技术可以对您的底线产生巨大的影响,但也为您打开了更多的优势,最终帮助您的业务功能更有效。本报告的目的是批判性地回顾过去关于该主题的文献,以更好地理解为什么企业会选择外包流程。本报告还将寻求提供更深入的了解外包对公司和被外包的东道国的影响。我们发现,将流程从澳大利亚外包是一种压倒性的趋势,这带来了其他好处,比如更接近新的市场机会。本报告的主体概述了公司应该选择外包的时间和原因,以及围绕这些概念的决策依据。研究还表明,在外包过程中提供帮助,帮助你与不同东道国的合作伙伴建立联系的公司正在蓬勃发展。该报告发现,由于最近的批评损害了一些企业的声誉,还需要仔细考虑一些伦理和道德义务。总的来说,我们研究的意义围绕着几个关键发现,与外包相关的成本效益,以及与合适的托管公司合作可以利用的更高效率和任务质量。
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引用次数: 0
Fund-level Investor Sentiment and Mean-variance Relation: Evidence From Singapore-listed ETFs 基金级投资者情绪与均值方差关系:来自新加坡上市etf的证据
Pub Date : 2022-08-01 DOI: 10.20849/iref.v6i3.1273
Feiyuan Hu
This paper tests the influences of fund-level sentiment on the mean-variance relation in ETF market. We find that in low (high)-sentiment periods, the expected excess return is positively (negatively) related to the conditional variances. Sentiment traders undermine the otherwise positive risk-return tradeoff and even twist it into a negative one in high-sentiment periods. The impact of sentiment is stronger during the global pandemic.
本文检验了基金层面情绪对ETF市场均值方差关系的影响。我们发现,在低(高)情绪时期,预期超额收益与条件方差正(负)相关。情绪交易者破坏了原本为正的风险回报权衡,甚至在情绪高涨的时期将其扭曲为负值。在全球大流行期间,情绪的影响更大。
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引用次数: 0
Evaluation on the Operation Efficiency of Medical Device Enterprises Under the Background of Digital Transformation —Empirical Analysis Based on DEA-Malmquist 数字化转型背景下医疗器械企业运营效率评价——基于DEA-Malmquist的实证分析
Pub Date : 2022-05-28 DOI: 10.20849/iref.v6i2.1186
Tiantian Yang
Based on the panel data of 15 listed medical device companies in the Yangtze River Delta region of China from 2015 to 2020, this paper uses the DEA-BCC model and the Malmquist index to measure their operating efficiency. The results show that from a static point of view, the average comprehensive efficiency, the average technical efficiency, and the average scale efficiency of the listed medical device companies in the Yangtze River Delta region are 0.916, 0.947 and 0.965 respectively. The operating efficiency is affected by both the pure technical efficiency and the scale efficiency. From the dynamic point of view, the operating efficiency of listed medical devices companies in the Yangtze River Delta region is fluctuating; The digital transformation of medical device enterprises is still in the initial stage. Based on the above research, this paper puts forward some countermeasures and suggestions, such as strengthening the independent innovation ability of Chinese medical device enterprises, accelerating the process of digital transformation, and increasing the government's support.
本文基于2015 - 2020年中国长三角地区15家医疗器械上市公司的面板数据,采用DEA-BCC模型和Malmquist指数对其经营效率进行测度。结果表明,从静态角度看,长三角地区医疗器械上市公司的平均综合效率、平均技术效率和平均规模效率分别为0.916、0.947和0.965。经营效率受到纯技术效率和规模效率的双重影响。从动态的角度看,长三角地区医疗器械上市公司的经营效率是波动的;医疗器械企业的数字化转型尚处于起步阶段。基于上述研究,本文提出了加强我国医疗器械企业自主创新能力、加快数字化转型进程、加大政府支持力度等对策建议。
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引用次数: 0
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International Research in Economics and Finance
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