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Topic Review
Biography
Topic Review
Modelling of Loss Given Default of Bank Loans
The loss given default (LGD) is the ratio of the amount of loss to a lender resulting from a borrower’s default to risk exposure. LGD is an important credit risk parameter in the regulatory system for financial institutions.
653
25 Oct 2023
Topic Review
Foundational Economy
Since its 2013 Manifesto for the foundational economy, the Foundational Economy Collective (FEC), a group of (mainly) European researchers, has challenged mainstream thinking about the character of our economy as well as economic policy making. Drawing upon the work of Fernand Braudel, the FEC argues for an understanding of the economy as composed of different zones, with the foundational economy vital for our everyday life. This includes inter alia provision of electricity and water, garbage disposal, food supply, education, health, care, social housing, and police. These activities constitute capitalism’s non-capitalist foundation, the “everyday communism” (Streeck) that sustains and enables it. This entry provides an overview of the genesis and development of foundational thinking.
653
12 Oct 2021
Topic Review
Smart Streets as a Cyber-Physical Social Platform
Smart streets are part of a cyber-physical social infrastructure in the public realm, including data obtained from sensors, the interconnection between different services, technologies and social actors, intelligence derived from analysis of the data, and optimisation of operations within a street. Cyber-physical systems (CPS) integrate computation with physical objects and processes, a literal co-mingling of the physical world and the cyber world (including computation, communication, and control systems). A cyber-physical social platform represents a recent expansion of CPS that bridges the gap between human intelligence and machine intelligence by including a social domain characterised by human participation and interactions.
651
14 Feb 2023
Topic Review
Income Disparity between Agricultural and Non-Agricultural Households
The income disparity between agricultural and non-agricultural households has been increasing in many countries. Studies in the labor economics literature often link population aging and underemployment to low labor participation and productivity, fewer savings, and greater financial pressure on households.
650
17 Dec 2021
Topic Review
Employee Stock Ownership Plan
An employee stock ownership plan (ESOP) is an employee-owner program that provides a company's workforce with an ownership interest in the company. In an ESOP, companies provide their employees with stock ownership, often at no upfront cost to the employees. ESOP shares, however, are part of employees' remuneration for work performed. Shares are allocated to employees and may be held in an ESOP trust until the employee retires or leaves the company. The shares are then either bought back by the company for redistribution or voided. Some corporations are majority employee-owned; the term "employee-owned corporation" often refers to such companies. Such organizations are similar to worker cooperatives, but unlike cooperatives, control of the company's capital is not necessarily evenly distributed. In many cases, voting rights are given only to certain shareholders, and more senior employees may be allocated more shares than new hires; typically, they are tied to the compensation an employee receives from the company. Compared with cooperatives, ESOP-centered corporations often allow for company executives to have greater flexibility and control in governing and managing the corporation. Most corporations, however, use stock ownership plans as a form of in-kind benefit, as a way to prevent hostile takeovers, or to maintain a specific corporate culture. The plans generally prevent average employees from holding too much of the company's stock.
649
15 Nov 2022
Topic Review
Business Failure
As living organisms, companies follow a three-stage life cycle: they are established, they grow and develop and, at some point, their life ends more or less suddenly. Business Failure is defined as liquidation, inactivation and legal declaration.
648
20 Oct 2021
Topic Review
Circular Economy and Financial Aspects
The barriers faced by companies adopting the circular economy in relation to financial performance are defined by (i) the size of the business and the initial investment cost, (ii) difficulties for micro and small companies, (iii) to a more complex structuring of the business, and (iv) greater exposure to risk, as the circular economy is a new concept and is and not as representative as a linear standard system. Thus, there is a need for accounting control of process costs, since resources for different products can have different life cycles. Therefore, factors like financial incentives, subsidies for the projects, and the awareness of nations, companies and consumers are of great importance for the evolution of the circular economy.
649
23 Mar 2022
Topic Review
Enhancing SMEs’ Resilience against COVID-19
COVID-19 pandemic has brought significant and multiple challenges for small and medium enterprises (SMEs). While SMEs have traditionally faced financial and non-financial crises, the pandemic has brought about additional uncertainties on how to maintain business continuity.
647
23 Jun 2021
Topic Review
Telework, Remote Work and Hybrid Work
Employees’ work environment has drastically shifted from offices to homes. Telework is often a desired employee benefit, but employers consider it a temporary setting. The lasting COVID-19 pandemic has changed the concept of telework. Home office has gained importance and will likely become an essential part of the working environment even after the pandemic.
645
25 Jun 2023
Topic Review
Knowledge Management Criteria in the Banking Industry
Banks’ performance and profitability were influenced significantly by the COVID-19 pandemic. Facing the impact and challenges derived from the pandemic, some responsive measures needed to be adopted by the banking industry. Supported by successful sustainability performance and a competitive advantage, accurate knowledge management could help organizations to survive future pandemics.
645
12 Oct 2022
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