Sort:
Show:
Page Size:
Topic review
Updated time: 01 Jun 2021
Submitted by: AHMET AYSAN
Definition: Blockchain is an open-source technology that excludes the traditional third parties by relying on collective verification, thus offering a great alternative in terms of costs, traceability, security, and speed. When two financial entities such as banks receive a request to transfer money from one account to another, they have to update the balances of their respective customers. This costly and time-consuming coordination and synchronization exercise can be simplified on a blockchain by using a single ledger of transactions reflecting a single version of records instead of two different databases. Blockchain technology offers a myriad of value through a frictionless process of immutable and transparent records and through converting assets into digital tokens (i.e., tokenization) with smart contracts.
Unfold
Topic review
Updated time: 29 Oct 2020
Submitted by: Anton Miglo
Definition: Capital structure is a firm’s mix of debt and equity financing. It is one of the most controversial areas of finance. Many of the results obtained in capital structure theory over the last 50-60 years have been very influential and led their authors to great international recognition. Among the researchers who contributed significantly to capital structure theory, note Nobel Prize Award winners Franco Modigliani, Merton Miller, Joseph Stiglitz, and most recently Jean Tirole. More research and more results are expected in this area in near future.
Unfold
Biography
Updated time: 10 Nov 2020
Submitted by: Chia-Lin Chang
Abstract: Chia-Lin Chang PhD (Economics), Université Catholique de Louvain, Belgium Current Appointments University Distinguished Professor, Professor of Economics, Professor of Finance, Director of the Agricultural and Natural Resources Research Centre (ANRRC),National Chung Hsing University, Taiwan; Distinguished Visiting Professor, Faculty of Economic and Financial Sciences, University of Johannesburg, South Africa; Adjunct Professor, Department of Quantitative Economics, Complutense University of Madrid (founded 1293), Spain; Adjunct Chair Professor, Asia University, Taiwan. Distinctions Elected Fellow (FMSSANZ), Modelling and Simulation Society of Australia and New Zealand (FMSSANZ) Biennial Medalist, MSSANZ, 2015 Elected Distinguished Fellow (DFIETI), International Engineering and Technology Institute (IETI) Annual Scientific Award, IETI, 2017
Unfold
Topic review
Updated time: 15 Jul 2020
Submitted by: Mete Feridun
Definition: Climate change creates financial risks to the safety and soundness of banks, insurers and the wider financial system, posing a significant threat to the stability of the financial system. Climate-related financial and sustainability risks are already starting to crystallise and have the potential to increase substantially in the future. For instance, physical risks that arise from increasing the severity and frequency of climate and weather-related events may lead to a reduction in asset values, a fall in profitability and an increase in the cost of settling underwriting losses for insurers. On the other hand, adjustment towards a carbon-neutral economy may prompt a reassessment of asset values, a fluctuation in energy prices, and a deterioration of the creditworthiness of borrowers, potentially leading to credit losses. While there is a pressing need for central banks, regulators and financial institutions to accelerate their capacity to assess and manage such financial risks that may result from climate change, academic research will be a key impetus to drive and support the ongoing efforts of the financial sector and the regulatory bodies in building capacity to address these risks.
Unfold
Topic review
Updated time: 29 Oct 2020
Submitted by: Huichen Jiang
Definition: The core model in this paper, “CoVaR”, is an abbreviation for “Conditional Value at Risk”, which has been increasingly applied in the field of systemic risk and can be used for analyzing the systemic risk in different perspectives.
Unfold
Topic review
Updated time: 11 Aug 2021
Submitted by: ALESSIO FACCIA
Definition: Corporate financial statements address multiple stakeholders’ needs. International Financial Reporting Standards (IFRSs), among others, allow two different classifications, “by function of expense” and “by nature of expense”, for the statement of profit and loss and other comprehensive income for the period (from now on, also identified in short as “Income Statement”, or “IS”). XBRL standards ensure compliance and consistency in financial statements’ drafting and filing. XBRL taxonomies reflect the Income Statement IFRS disclosure requirement in the {310000} and {320000} codifications, respectively.
Unfold
Topic review
Updated time: 29 Oct 2020
Submitted by: Anton Miglo
Definition: Crowdfunding is the practice of funding a newly created firm or project by raising funds from a large number of people. It is usually performed online. In 2009 the volume of funds raised using crowdfunding was negligeably small. Crowdfunding raised $34.4 billion in 2015. Some analysts predict that crowdfunding market size will grow at an annual rate of 27.8% and will surpass venture capital investments in the near future (Miglo and Miglo, 2019).
Unfold
Topic review
Updated time: 07 Mar 2021
Submitted by: Huichen Jiang
Definition: China is a bank-dominated country; therefore, the sustainability of the Chinese banking industry is important for economic development. In this paper, data envelopment analysis (DEA) was combined with the Malmquist index, and we statically and dynamically analyzed the efficiency of listed banks during the period 2012–2017. The results showed that 12 of the 17 banks improved their technical efficiency. The technical efficiency of three banks remained the same, whilst that of two banks had dropped slightly by less than 1.0%. The Chinese government has learned from the lessons of past financial crises to find a way to forestall financial crisis, and implemented macroprudential policy, therefore the banking industry has actively served the real economy and promoted economic development while paying attention to the prevention of financial risks. According to the report of The Banker in 2018, for the first time, the four biggest banks in China topped the list of the Top 1000 World Banks. The research showed that, the Chinese government applied macroprudential framework in the banking supervision, and the listed banks effectively resisted financial risks and realized steady growth. We believe that the macroprudential framework plays a positive role in the economic development and financial stability in China.
Unfold
Topic review
Updated time: 30 Aug 2021
Submitted by: Giulio Caldarelli
Definition: The term Decentralized Finance (DeFi) refers to an alternative financial infrastructure built on top of public blockchains. DeFi uses smart contracts to create protocols that replicate existing financial services in a more open, interoperable, and transparent way Source.
Unfold
Topic review
Updated time: 18 Jun 2021
Submitted by: Alfredo Trespalacios
Definition: Electricity is usually traded in a short-term market (spot market) and a long-term market via contracts for future delivery (forward contracts). The electricity market is characterized by being highly volatile when compared to other commodity markets. This high volatility in terms of price and quantity is due to market circumstances (e.g., expectations or strategies of each company and economic dynamics) and physical conditions (e.g., climate, water availability, fuel production, or damage to the power transmission network).
Unfold
  • Page
  • of
  • 3