Increasingly many developed countries are losing their export market shares to lower priced emerging countries. Emerging countries unlike higher wage developed countries are able to produce a similar product to be traded at a lower cost. To regain its competitive streak, developed countries would need to compete in terms of higher quality products rather than lower priced products. This paper, thus, attempts to quantify the effect of higher quality goods trade within Europe. Using a panel data comprising...

This paper investigates whether, as a result of competition, certain explicit transaction costs (execution fees) paid by broker-dealers to execute client orders on trading platforms are effectively decreasing, and considers the implications for stock exchanges and equity markets. It aims to integrate the literature on trading costs in equity markets by focusing on qualitative aspects and their specific relevance to the assessment of securities market quality, considering that in a high quality market,...

In this paper, we study the time inconsistency problem in the durable goods market with entry of new consumers in each period. The monopolist only wants to sell the product to high valuation consumers at the beginning. However, the accumulation of low valuation consumers makes it irresistible to hold a sale, which takes away the monopolist’s profits from high valuation consumers. He can strategically introduce a damaged good and sell it to low valuation consumers to mitigate this problem. In a...

Air transport has become an integral part of the structure of the world community, especially to the development of world economy in terms of trade and tourism, which is now very real. One of the human resources that have great contribution in the smooth airline is the aircraft technicians who in charge of preparing aircraft in order to fly with a predetermined schedule. The objective of this research is to test the hypothesis that the self-concept is associated with aircraft technician performance....

This paper is an attempt to analyze the repayment behavior of the clients of commercial Banks. Such an effort has been made to find the socioeconomic factors that effect the loan repayment and to quantitatively determine the level of relationship. A sample bank named Mercantile Bank Limited has been randomly selected where 100 clients from different branches of the same bank have been surveyed through a structured questionnaire between August to December 2011.Descriptive Statistics was used to analyze...

Transition matrices help lenders to analyze credit risk by identifying the probability of a loan (or portfolio of loans) transitioning from one risk grade to another, including the risk of transitioning to a default grade. Traditionally, transition matrices have been used to measure credit Value at Risk (VaR), which is an estimate of losses below a selected threshold. Conditional Value at Risk (CVaR) measures the extreme risk beyond VaR. We use enhanced transition matrix CVaR techniques to measure...

The main objective of this article was to find the most accurate model for financial distress prediction. As it is known, predicting bank financial distress reduces the incurred loss and helps avoiding misallocation of Bank’s financial resources. A total of six Kuwaiti commercial banks were financially analyzed using data compiled for nine consecutive years from 2001 to 2009. Data has been collected from the annual financial report represented in the balance sheet and income statement for Kuwaiti...

Because of the ever increasing demand of the lower power consumption, lower cost and higher performance in consumer electronic industry, the Moore’s Law almost came to its end. Most of the integrated device manufacturers (IDMs) of CMOS Image Sensor (CIS), such as Sony and OmniVision, had then already put 3D IC (Three Dimensioned Integrated Circuits) applying Through Silicon Via (TSV) technology in their roadmaps to resolve the upcoming challenges. Under such manner, for helping analyze the current...

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Aggregate production planning (APP) involves the simultaneous determination of company’s production, inventory and employment levels which fall between the broad decisions of long range planning and detailed short range planning. A mathematical model is formulated to investigate the optimal decision on each planning period. The goal is to minimize the total relevant costs considering time varying demand, unstable production capacity and work forces, inventory control, wastage reduction, and proper...