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Dos Santos Rocha, Marco Aurelio - One of the best experts on this subject based on the ideXlab platform.
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Essays on Risk Assumption and liquidity management
2014Co-Authors: Dos Santos Rocha, Marco AurelioAbstract:This dissertation contains two chapters: one on CDS and the firm’s behaviour towards Risk Assumption and the other one corporate liquidity management in emerging markets. The abstracts for each chapter are as follows. Chapter 1: Credit Default Swaps and Risk-Shifting: Good News for Constrained Firms We hypothesize that CDS discriminate Risk choices according to firm’s financial status, being constrained firms more restrained than financially flexible ones. We take this prediction to the data using actual CDS trades around the financial crisis of 2007-2008, and a counter- factual CDS sample around the junk bond crisis of 1990. Taken together, estimates from theses two exercises suggest that CDS makes constrained firms more cautious in their in- vestment decisions when the economic environment is uncertain. Our result indicates that CDS could prevent firms from entering distressed renegotiations, reduce the incidence of the empty-creditor problem they give rise to and help stabilize the economy in downturns. Chapter 2: Liquidity Management Instruments in Emerging Markets: Evidence from Brazil We characterize the liquidity management of firms that operate in Brazil through the de- scription of both cash policies and the use of credit lines. We document an increase in cash ratios for firms of all sizes, which results in aggregate cash ratios doubling from 2002 to 2011. We find evidence that this secular increase is associated with the precautionary motive for holding cash and the low potential for credit lines to make up for cash. Domestic credit lines show interesting features that could help explain the side role they play in the liquidity management of Brazilian firms
Guanglin Li - One of the best experts on this subject based on the ideXlab platform.
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an integrated decision support system based on ann and fuzzy_ahp for heart failure Risk prediction
Expert Systems With Applications, 2017Co-Authors: Oluwarotimi Williams Samuel, Grace Mojisola Asogbon, Arun Kumar Sangaiah, Peng Fang, Guanglin LiAbstract:This study proposed a hybrid decision support method (ANN and Fuzzy_AHP) for heart failure prediction.The performance of the proposed method was examined using three performance metrics.From the evaluations results, the proposed method performed better than the conventional ANN approachThe proposed method would provide improved and realistic result for efficient therapy administration. Heart failure (HF) has been considered as one of the deadliest human diseases worldwide and the accurate prediction of HF Risks would be vital for HF prevention and treatment. To predict HF Risks, decision support systems based on artificial neural networks (ANN) have been widely proposed in previous studies. Generally, these existing ANN-based systems usually assumed that HF attributes have equal Risk contribution to the HF diagnosis. However, several previous investigations have shown that the Risk contributions of the attributes would be different. Thus the equal Risk Assumption concept associated with existing ANN methods would not properly reflect the diagnosis status of HF patients. In this study, the commonly used 13 HF attributes were considered and their contributions were determined by an experienced cardiac clinician. And Fuzzy analytic hierarchy process (Fuzzy_AHP) technique was used to compute the global weights for the attributes based on their individual contribution. Then the global weights that represent the contributions of the attributes were applied to train an ANN classifier for the prediction of HF Risks in patients. The performance of the newly proposed decision support system based on the integration of ANN and Fuzzy_AHP methods was evaluated by using online clinical dataset of 297 HF patients and compared with that of the conventional ANN method. Our result shows that the proposed method could achieve an average prediction accuracy of 91.10%, which is 4.40% higher in comparison to that of the conventional ANN method. In addition, the newly proposed method also had better performance than seven previous methods that reported prediction accuracies in the range of 57.85-89.01%. The improvement of the HF Risk prediction in the current study might be due to both the various contributions of the HF attributes and the proposed hybrid method. These findings suggest that the proposed method could be used to accurately predict HF Risks in the clinic.
Oluwarotimi Williams Samuel - One of the best experts on this subject based on the ideXlab platform.
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an integrated decision support system based on ann and fuzzy_ahp for heart failure Risk prediction
Expert Systems With Applications, 2017Co-Authors: Oluwarotimi Williams Samuel, Grace Mojisola Asogbon, Arun Kumar Sangaiah, Peng Fang, Guanglin LiAbstract:This study proposed a hybrid decision support method (ANN and Fuzzy_AHP) for heart failure prediction.The performance of the proposed method was examined using three performance metrics.From the evaluations results, the proposed method performed better than the conventional ANN approachThe proposed method would provide improved and realistic result for efficient therapy administration. Heart failure (HF) has been considered as one of the deadliest human diseases worldwide and the accurate prediction of HF Risks would be vital for HF prevention and treatment. To predict HF Risks, decision support systems based on artificial neural networks (ANN) have been widely proposed in previous studies. Generally, these existing ANN-based systems usually assumed that HF attributes have equal Risk contribution to the HF diagnosis. However, several previous investigations have shown that the Risk contributions of the attributes would be different. Thus the equal Risk Assumption concept associated with existing ANN methods would not properly reflect the diagnosis status of HF patients. In this study, the commonly used 13 HF attributes were considered and their contributions were determined by an experienced cardiac clinician. And Fuzzy analytic hierarchy process (Fuzzy_AHP) technique was used to compute the global weights for the attributes based on their individual contribution. Then the global weights that represent the contributions of the attributes were applied to train an ANN classifier for the prediction of HF Risks in patients. The performance of the newly proposed decision support system based on the integration of ANN and Fuzzy_AHP methods was evaluated by using online clinical dataset of 297 HF patients and compared with that of the conventional ANN method. Our result shows that the proposed method could achieve an average prediction accuracy of 91.10%, which is 4.40% higher in comparison to that of the conventional ANN method. In addition, the newly proposed method also had better performance than seven previous methods that reported prediction accuracies in the range of 57.85-89.01%. The improvement of the HF Risk prediction in the current study might be due to both the various contributions of the HF attributes and the proposed hybrid method. These findings suggest that the proposed method could be used to accurately predict HF Risks in the clinic.
John G Maurer - One of the best experts on this subject based on the ideXlab platform.
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the proactive personality disposition and entrepreneurial behavior among small company presidents
Journal of Small Business Management, 1999Co-Authors: Richard C. Becherer, John G MaurerAbstract:Much of the effort to understand entrepreneurship and new venture creation has focused on the characteristics of individual entrepreneurs. From the early work of McClelland (1961) which focused on the need for achievement as a personality characteristic of entrepreneurs, the field has examined a number of different traits like locus of control, propensity to take Risks, personal values, and tolerance for ambiguity in a variety of different studies (see for example, Hornaday and Aboud 1971; Timmons 1978; Brockhaus 1980; Brockhaus and Horwitz 1986; Carland, Hoy, and Carland 1988; Hebert and Bass 1995). This trait-oriented line of research has come under fire as "inadequate to explain the phenomenon of entrepreneurship" (Gartner 1988, p. 12). As the preoccupation with individual traits has been de-emphasized, several other elements of entrepreneurship have been proposed to define the entrepreneur. "Behavior" has been argued as the best method to identify an entrepreneur (Gartner 1994), and it is suggested that founding a business is one behavior which certainly defines entrepreneurship (Stewart, Carland, and Carland 1996). Another type of behavior which has been linked to entrepreneurial activity is strategic planning (Olsen 1985), as entrepreneurs plan in more depth than small business owners (Carland et al. 1984). Other studies have identified a number of elements that define entrepreneurship and entrepreneurial behavior including: leadership and dimensions of teamwork, organizational creation, opportunity recognition, innovation, Risk Assumption, marshaling of resources, and the creation of value (Stearns and Hills 1996). While many studies have enumerated the wide variety of elements that may define an entrepreneur, it has recently been posited that perhaps we can identify several types of entrepreneurs (Stewart, Carland, and Carland 1996). This variety of perspectives is best understood through the integrative approaches that have recently evolved to explain entrepreneurial behavior. They suggest that entrepreneurship is an activity that can only be understood by simultaneously combining several of the individual elements of the phenomenon. A model developed by Gartner (1985) integrated four major dimensions of entrepreneurship: characteristics of the individual who starts the venture, the organization which is created, the environment surrounding the new venture, and the process by which the new venture is started. He emphasizes that it is the interaction of these variables that result in varying patterns of new business creation. Shaver and Scott's (1991) psychological model based on the person, the process, and the choices also attempts to explain entrepreneurial activity in terms of variable interaction. In their theoretical framework, these researchers strongly reject the solo role of "personological" approaches to understanding entrepreneurship and propose that we must also understand both how the external environment is perceived in the mind of the potential entrepreneur (the process of social cognition) and whether the person chooses to act. They emphasize that it is critical to understand how cognitive representations in the mind of the potential entrepreneur get translated into action. More recently, other models have been developed which recognize the importance of the interaction among several variables. Herron and Sapienza (1992) propose a model of new venture creation which links individual traits with the situational context experienced by the potential entrepreneur. Similarly, the role of personal characteristics interacting with perceptions of situational factors serve as the basis for a model of entrepreneurial motivation developed by Naffziger, Hornsby, and Kuratko (1994). All of these recent multi-dimensional models reflect the importance of the interface between the environment or situation and the personal characteristics of the potential entrepreneur in understanding the process of venture creation. …
Váradi Ágnes - One of the best experts on this subject based on the ideXlab platform.
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Egészségügyi kockázatok és orvosi felelősség a római jogban = Assumption of medical Risks and the problem of medical liability in the ancient Roman law
'Akademiai Kiado Zrt.', 2028Co-Authors: Váradi ÁgnesAbstract:Az egészség védelme, különösen a balesetből és betegségből eredő kockázatok viselésének és a károk megtérítésének szabályozási igénye már a római jog időszakában is megjelent, különböző jogintézmények szabályozási rendszerébe ágyazva. Egységes szabályozási előkép hiányában a különböző személyi körök egészségében, testi épségében beállt károsodásokat érdemes kiemelni: a vizsgálat során ki kell térnünk a rabszolgákat, a filius familiasokat és a szabad embert ért sérülések, betegségek jogi minősítésének bemutatására. A Digesta fragmentumaiból származó esetek nemcsak konkrét jogi problémákat vetnek fel, hanem messzebb mutató elméleti kérdések kiindulópontjai is lehetnek. Így például joggal vetődhet fel a kérdés: Ha a haláleset rossz gyógyszerezés következménye, felel-e az orvos? Része volt-e az utókezelés az orvos gyógyítótevékenységének a római jog értelmezésében? Mindezeknek a kérdéseknek a megválaszolása nem szakadhat el a római jog komplex felelősségi rendszerének bemutatásától, valamint a szerződéses és szerződésen kívül okozott károk megtérítésének, a lex Aquilia intézményének, illetve a felelősségi rendszer alapjainak ismertetésétől. Az egyes esetek elemzése során kitérek a ma már klasszikusnak számító római jogi szakirodalom álláspontjára, továbbá a kortárs hazai és külföldi szerzők nézeteire is. Ezen példák bemutatása egyrészt a deliktuális felelősség kialakulásának egy sajátos állomását tárja fel, másrészt hozzájárulhat a modern egészségügyi felelősség fogalmának elméleti szintű továbbfejlesztéséhez. | The claim of an individual to assure his health and life, to assume and compensate the damage from diseases and accidents, had already appeared in the system of the ancient Roman law in the form of many singular legal institutions. In lack of a unified archetype of regulation, we have to analyse the damages caused in the health or corporal integrity of different personal groups: we have to mention the legal interpretation of the diseases or injuries suffered by serves, people under manus or patria potestas and free Roman citizens. The fragments from the Digest od Justinian do not only demonstrate concrete legal problems, but they can serve as a starting point for further theoretical analyses. For example: if death is the consequence of a medical failure, does the doctor have any kind of liability? Was after-care part of the healing process according to the Roman law? Examining these questions, we should not forget to talk about the complex liability system of the Roman law, the compensation of the damages caused in a contractual or delictual context and about the lex Aquilia . Although these conclusions have no direct relation with the present legal regulation of Risk Assumption, we have to see that analysing the examples of the Roman law can be useful for developing our view of a certain theoretical problem, like that of the modern liability concept in medicine as well
