The Experts below are selected from a list of 222 Experts worldwide ranked by ideXlab platform

Lin Nan - One of the best experts on this subject based on the ideXlab platform.

  • an unintended consequence of sfas 133 promoting speculation
    Journal of Management Accounting Research, 2011
    Co-Authors: Lin Nan
    Abstract:

    ABSTRACT: The Statement of Financial Accounting Standards No. 133 (SFAS 133) allows firms to apply hedge accounting only to qualified hedges that pass effectiveness tests. Unqualified hedges (speculations) are required to be marked to market, and the unrealized gains/losses are to be recognized in earnings immediately. The purpose of SFAS 133 is to improve the timeliness of the information about financial derivatives risk. This paper, however, shows through a Specific Agency model that the early recognition of the unqualified use of derivatives may change the risk allocation in the manager's compensation and motivate speculation. Speculation is modeled as engaging in high-risk, high-return derivatives contracts, while hedging activities are modeled as engaging in low-risk, low-return contracts (the low return is normalized to be zero for simplicity). The higher expected return from speculation makes it possible for the principal to offer a lower incentive in the early stage of derivative contracts. The lo...

  • an unintended consequence of sfas 133 promoting speculation
    2010
    Co-Authors: Lin Nan
    Abstract:

    The Statement of Financial Accounting Standards No.133 (SFAS 133) allows firms to apply hedge accounting only to qualified hedges that pass effectiveness tests. Unqualified hedges (speculations) are required to be marked to market, and the unrealized gains/losses are to be recognized in earnings immediately. The purpose of SFAS 133 is to improve the timeliness of the information about financial derivatives risk. This paper, however, shows through a Specific Agency model that the early recognition of the unqualified use of derivatives may change the risk allocation in the manager's compensation and motivate speculation. Speculation is modeled as engaging in high-risk high-return derivatives contracts, while hedging activities are modeled as engaging in low-risk low return contracts (the low return is normalized to be zero for simplicity). The higher expected return from speculation makes it possible for the principal to offer a lower incentive in the early stage of derivative contracts. The lower incentive, in return, makes speculation less detrimental when the induced volatility is recognized earlier than the maturity date of the contracts, because the induced risk premium is decreased with the lower incentive.

Daniel T. Grima - One of the best experts on this subject based on the ideXlab platform.

  • Comparison of Oncology Therapy Reimbursement Recommendations Made by Health Technology Assessment Agencies in Australia, Canada, Sweden, And United Kingdom
    Value in Health, 2014
    Co-Authors: I.a. Samjoo, Daniel T. Grima
    Abstract:

    Canada • The pan-Canadian Oncology Drug Review (pCODR), assesses the clinical evidence and cost-effectiveness of new cancer drugs and provide recommendations to the provinces (except Quebec) and territories to guide their drug funding decisions. • To our knowledge, globally, pCODR is the only national cancer-Specific Agency providing recommendations on new cancer drugs to decision makers. Australia • The Pharmaceutical Benefits Advisory Committee (PBAC) provides recommendations to the Minister of Health regarding which drugs and medicinal preparations should be subsidized on the Pharmaceutical Benefits Scheme (PBS), based on clinical effectiveness, safety and cost-effectiveness of a proposed benefit compared to alternative therapies. Sweden • The Dental and Pharmaceutical Benefits Agency (Tandvards-och lakemedelsformansverket), or TLV, makes national pricing and reimbursement recommendations on which pharmaceuticals and health technologies should be covered by the Pharmaceutical Benefit Scheme, based on clinicaland cost-effectiveness. United Kingdom • The National Institute for Health and Care Excellence (NICE), issues guidance to the National Health Service (NHS) on the use of selected new and established health technologies, based on clinical effectiveness, safety and cost-effectiveness relative to established standards of care.

Christophe J. Godlewski - One of the best experts on this subject based on the ideXlab platform.

  • How to Get a Syndicated Loan Fast? The Role of Syndicate Composition and Organization
    SSRN Electronic Journal, 2009
    Co-Authors: Christophe J. Godlewski
    Abstract:

    We empirically investigate the organizational determinants of the speed of a loan syndication process, with a particular focus on the influence of syndicate composition and organization. Indeed, the major advantage of syndicated lending is the speed with which the required funding can be obtained, while syndication composition and organization are considered as crucial for successful syndication. In a cross-country framework, we find that syndicate composition and organization characteristics clearly matter for the duration of the syndication process and therefore for borrower satisfaction in terms of the speed of obtaining the necessary funding. In particular, a syndicate composition and organization adapted to the Specific Agency problems of syndication, with numerous, reputable and experienced arrangers holding a larger portion of the loan and with more lenders from the same country as the borrower reduces the duration.

  • Duration of loan arrangement and syndicate organization
    2008
    Co-Authors: Christophe J. Godlewski
    Abstract:

    What is the influence of syndicate organization on the duration of loan arrangement? I answer this question using the survival analysis methodology on a sample of loans from 59 countries over the 1992-2006 period. I find that syndicate size, concentration, reputation, and national diversity clearly matters for the duration of loan arrangement and therefore for borrower satisfaction regarding the speed of obtaining the necessary funding. A syndicate organization adapted to Specific Agency problems of syndication, with numerous, reputable, and experienced arrangers retaining a larger portion of the loan reduces the duration. The latter is also shorter when the lenders diversity in terms of nationality is weaker.

  • Duration of Loan Arrangement and Syndicate Structure
    SSRN Electronic Journal, 2008
    Co-Authors: Christophe J. Godlewski
    Abstract:

    What is the influence of syndicate organization on the duration of loan arrangement? I answer this question using the survival analysis methodology on a sample of loans from 59 countries over the 1992-2006 period. I find that syndicate size, concentration, reputation, and national diversity clearly matters for the duration of loan arrangement and therefore for borrower satisfaction regarding the speed of obtaining the necessary funding. A syndicate organization adapted to Specific Agency problems of syndication, with numerous, reputable, and experienced arrangers retaining a larger portion of the loan reduces the duration. The latter is also shorter when the lenders diversity in terms of nationality is weaker.

Tameka L. Gillum - One of the best experts on this subject based on the ideXlab platform.

  • Improving Services to African American Survivors of IPV From the Voices of Recipients of Culturally Specific Services
    Violence against women, 2008
    Co-Authors: Tameka L. Gillum
    Abstract:

    Researchers have found that many services designed to assist survivors of intimate partner violence (IPV) take a mainstream, color-blind approach to their interventions. Several authors have indicated a need for culturally Specific IPV interventions to adequately address the issue of IPV within the African American community. This exploratory study was designed to ascertain, from African American survivors, what their experiences were with mainstream IPV interventions and how their experience with a culturally Specific domestic violence Agency was different from those experiences. Overall, women described mostly problematic experiences with mainstream services and positive experiences with the culturally Specific Agency.

  • The Benefits of a Culturally Specific Intimate Partner Violence Intervention for African American Survivors
    Violence against women, 2008
    Co-Authors: Tameka L. Gillum
    Abstract:

    In light of evidence and theorization of culturally Specific factors contributing to intimate partner violence (IPV) within African American relationships and the Eurocentric approach many mainstream agencies take to service delivery, researchers have indicated a need for culturally appropriate IPV interventions for African American survivors to adequately address the issue of IPV within this community. The purpose of the current study was to qualitatively investigate how helpful a culturally Specific IPV program, which targets the African American community, has been to African American female survivors. Results suggest that this culturally Specific Agency is successfully meeting the needs of these survivors.

Rod S Taylor - One of the best experts on this subject based on the ideXlab platform.

  • Health technology assessment of medical devices: a survey of non-European union agencies.
    International journal of technology assessment in health care, 2015
    Co-Authors: Oriana Ciani, Britni Wilcher, Carl Rudolf Blankart, Maximilian H. M. Hatz, Valentina Prevolnik Rupel, Renata Slabe Erker, Yauheniya Varabyova, Rod S Taylor
    Abstract:

    The aim of this study was to review and compare current health technology assessment (HTA) activities for medical devices across non-European Union HTA agencies. HTA activities for medical devices were evaluated from three perspectives: organizational structure, processes, and methods. Agencies were primarily selected upon membership of existing HTA networks. The data collection was performed in two stages: stage 1-Agency Web-site assessment using a standardized questionnaire, followed by review and validation of the collected data by a representative of the Agency; and stage 2-semi-structured telephone interviews with key informants of a sub-sample of agencies. In total, thirty-six HTA agencies across twenty non-EU countries assessing medical devices were included. Twenty-seven of thirty-six (75 percent) agencies were judged at stage 1 to have adopted HTA-Specific approaches for medical devices (MD-Specific agencies) that were largely organizational or procedural. There appeared to be few differences in the organization, process and methods between MD-Specific and non-MD-Specific agencies. Although the majority (69 percent) of both categories of Agency had Specific methods guidance or policy for evidence submission, only one MD-Specific Agency had developed methodological guidelines Specific to medical devices. In stage 2, many MD-Specific agencies cited insufficient resources (budget, skilled employees), lack of coordination (between regulator and reimbursement bodies), and the inability to generalize findings from evidence synthesis to be key challenges in the HTA of medical devices. The lack of evidence for differentiation in scientific methods for HTA of devices raises the question of whether HTA needs to develop new methods for medical devices but rather adapt existing methodological approaches. In contrast, organizational and/or procedural adaptation of existing HTA Agency frameworks to accommodate medical devices appear relatively commonplace.