Different scholars and exponents of the world of finance have found that the problem of conflict of interest might play a relevant role in the business of credit rating agencies. On the one hand, it is argued that credit rating agencies have no incentive to exploit conflicts of interest since they would lose their reputation for providing valuable information. On the other, it seems that the increase in rules that depend on credit ratings has created an incentive for a few rating agencies, identified as NRSROs, to supply inaccurate ratings and for market participants to pay for regulatory rights deriving from the agencies’ ratings. The scope of this research is to study whether reputable and well-established credit rating agencies can build up a margin that allows them to remain unaffected by a lowered quality of the service provided and to indulge in exploiting the conflict of interest by giving their customers, i.e. the issuers, unduly high ratings. This study will also suggest a critical review of the latest amendments and amendment proposals to the existing legislation governing credit rating agencies aimed at improving oversight and regulation of these agencies.
The book talks about the four major Credit Rating Agencies in India including CRISIL, ICRA, CARE and FITCH. It gives a detailed information regarding operations undertaken by these rating agencies. The regulatory environment affecting the credit rating activities in India has been discussed in the book. The methodology adopted by Credit Rating Agencies while rating and variability in rating over the period has also been analysed in the book. The book evaluates the post rating performance of various companies rated by the given rating agencies. In addition the perceptions of investors regarding credit rating practices in India has also been covered in the book.
The latest financial crisis highlighted several problems with credit derivatives and raised questions about the effectiveness of Credit Rating Agencies’ (CRAs) assessment of risks in rating complex financial products such as Collateralized Debt Obligation (CDO). Credit derivatives provided a powerful new tool for managing credit risk that had the potential to facilitate risk-sharing, enhance the efficiency of risk management and promote market completeness. Measuring the exposure taken on a credit derivative contract can be very difficult. As a result market participants have rely on credit ratings as a source of information to assess the risk of their derivative transactions. During the latest crisis the role of the major credit rating agencies have come under increased scrutiny. This work, after the introduction of credit risk, provides an overview of credit derivatives instruments and explain the central role that rating and credit rating agencies play in the financial markets. Moreover, it highlights the criticism of credit rating agencies in rating structured finance products and provide an in-depth view of the CDO rating methodologies.
Credit Rating Agencies have endured public brunt for insufficiently policing Wall Street in the making of the late 2000s financial crisis. Still, the specifics of their 'wrongdoing' is scarcely holistic, rather fragmented. This book is not an encyclopedia to stitch things up in that regard, but just about turns the volume up on the prevalence of conflict of interest, tenuous rating methodologies and systemic oligopoly in the credit rating sector. It recognizes the importance of rating institutions to investors' faith in the modern day economy and features the oligopolistic structure of the credit rating industry believed to be a function of NRSRO legislation. It discusses broad behaviours of credit rating institutions through theoretical sampling in grounded theory to reach a conclusive statement on the definitive role of credit rating agencies in the financial crisis.
Movie piracy is the practice of unauthorized use of intellectual trade secrets from owners without paying royalties (de Prato & Simon, 2014). Piracy resulted in approximately $1.55 billion in lost ticket revenues in 2002 and up to $1.37 billion in 2012. Statistics from the Business Software Alliance revealed that piracy is approximately 19%, with potential losses in sales revenue of over $9.7 billion in the U.S. Sample for this work consisted of 6 movie managers who managed movie corporations for atleast 5 years in New York City. Framework for this study was based on the general systems theory. Data were collected through face-to-face semistructured interviews. Transcript review and member checking were used to ensure credibility and trustworthiness. Three major themes emerged; marketing management strategies, legal management strategies and customer management strategies for inhibiting movie piracy. Findings contribute to social change by indicating strategies movie managers may use to prevent piracy, sustain business, and reduce effects of job loss. Results of this work potentially contribute to the movie industry leaders, employees, their families, communities and local economy.
The safety regulations and rating systems in various parts of the world have not achieved harmonisation. A good example is the differing requirements of side impact protection. This investigation started by a review of existing vehicle regulations and crash rating tests around the world, especially in Europe, North America and China. The reviewing contains the crash tests history, current state and future directions. Then focused on the main differences of each side impact tests, twelve side impact test activities are compared in detail among Europe, North America and China. Potential influences of the test differences on vehicle design were identified. Some possible solutions for side structure improvement are proposed in the last chapter.
Banking industry serves as the backbone of the financial sector that accumulates saving from surplus economic units in the form of deposits and provides it to deficit economic units in the form of advances. So it is of great importance to keenly observe the performance of the banks and their compliance with the regulatory requirements. Performance of the banks is measured at two levels, one is at the management and regulatory level of the banks and another is at external rating agencies. It is of great importance that both these ratings present the same results about the condition of the banks to provide clear information to investors and management. CAMELS is the supervisory and regulatory rating system implemented by State Bank of Pakistan. It takes into account six important components of a bank when it evaluates performance of the bank. These components are Capital, Assets, Management, Earning, Liquidity and Sensitivity to market risk. PACRA rating agency is the dominant credit rating agency of Pakistan that performs ratings for most banks. In our research we examine the similarities in the results generated by CAMELS rating system and PACRA rating agency.
This paper examines the effect of credit rating announcements released by the three major rating agencies on European government bonds by looking at one key area, and three interrelated topics. Firstly, I evaluate the impact of credit rating announcements on European government bond returns. Secondly, I appraise their effect on the slope of the sovereign yield curve. Thirdly, I assess the implications of the European sovereign debt crisis on the credit rating announcement effect. Fourthly, I analyse how rating changes influence government bond abnormal returns, depending on the country's membership of the Eurozone or not, and whether the country is in the "Peripheral area" or not.
Ontology reuse saves costs and improves interoperability. Knowing which ontology to reuse is difficult without proper quality assessment. We provide a framework that enables quality assessment in the form of user reviews of ontologies, which are ranked based on inter-user trust. Open Rating Systems allow to collect user reviews, ratings, and information on trust between users, and to exploit this information for computing a personalized ranking of ontologies. In the traditional Open Rating System model, objects can only be rated as a whole, and other users can only be trusted globally. Since these limitations hinder the use of an Open Rating System for applications like ontology rating, we develop an extension, our Topic-Specific Trust Open Rating System. Our system features topic-specific trust and multi-faceted ratings. In a simulation, we show that our Topic-Specific Open Rating System provides a better result than the Open Rating System. In a user study, we show that having user ratings and result ranking based on our system significantly facilitates ontology selection for the end user, compared to the state of the art ontology search engines.
Make staying in the new going out with this brilliant book of themed movie nights. Choose from one of 12 fun-filled themes - from Girl Power to Western, Fright Night to James Bond, put on your most stylish loungewear and prepare some delicious snacks and treats. Packed with fun recipes plus great ideas for costumes, games and movie recommendations, here you'll find everything you need to host the most awesome movie night ever!
Corporate Governance Rating is the emerging phenomenon in the corporate world. The study evaluates the most popular corporate governance rating systems and aims to scrutinize their usefulness to shareholders and the public at large. The characteristics that has been examined are board structure and processes, board systems and procedures, board committees, transparency and disclosure, stakeholder claims satisfaction, investor relations and financial performance for sample listed companies and an attempt has been made to find out the predictors of corporate governance rating in different sectors i.e. Banking, Information Technology & Telecommunications, Engineering, Steel & Cement, Power, Petrochemicals, and Other (Pharmaceuticals, Real Estate and Construction, Finance and Investments) Sectors. The study also proposes to examine whether the corporate governance scores reflect corporate performance, leverage, growth, firms valuation, age of the organization. The analyses were carried out and finally conclusions has been drawn that the corporate governance rating is an efficient approach to corporate monitoring.
Revision with unchanged content. Independent SRI rating agencies are relatively new players in the socially responsible investment (SRI) market that have first emerged in the 1990s. Their presence can be seen as a result of the growing demand from institutional investors for independent research on corporate social responsibility. What are the historical roots of SRI and which factors have led to the emergence of this new business model? Robert Gehrcke introduces the reader to the subject by giving a presentation of the history and the current structure of the SRI market. The initial analysis is used to explain the emergence of independent SRI rating agencies and the vast variety of methodological approaches. One of them, Oekom’s Corporate Responsibility Rating, is presented in detail. An interview part with representatives from different SRI rating agencies goes deeper into current issues of transparency and standardisation of methodologies. The book is aimed at people with an interest in the SRI market in general and independent rating processes in particular. It provides useful analyses for institutions like unions, associations, NGOs and foundations which are associated with sustainable investment.
The present book on "Introduction and review of Anti tubercular agents" is very informative for the M. Pharm. Ph.D. and academic/Industry researcher who can exhaustively engage with drug discovery of anti-tubercular agents.This book includes Introduction of tuberculosis with some novel targets for tuberculosis drug therapy and review of some novel heterocycles which exhibited excellent anti tubercular activity.
The goal of this thesis is to provide empirical insight into the impact of rating agencies' announcements on stock prices in the Italian market. The study looks at a sample of 330 rating agency announcements concerning Italian issuers from 1995 to 2006. Using the Event Study methodology, it analyzes the stock prices of the companies to determine the existence of any abnormal returns and hence ultimately the impact of rating announcements on the stock market.
The movie "Shower" depicts the sentimental reluctance of the Chinese people to part with their conventional lifestyle and ideology against the background of a fast-developing modern society. With its touching story and profound implications, this highly acclaimed movie has won a number of national and international awards, and has been chosen by many universities as materials for their TCFL audio-visual classes. This book selects 6 excerpts from the movie, adds detailed annotation and provides diversified exercises based on the audio-visual materials. The accompanying DVD contains 2 versions of the movie: a complete version to be watched for appreciation, and a reedited version for use in the classroom. The book is best suited for learners of Chinese with a vocabulary of 1500 words, and can be used for class as well as for self study.
Complete, objective-by-objective review for the A+ exam The CompTIA A+ Complete Review Guide, 3rd Edition is your ideal solution for preparing for exams 220-901 and 220-902. The perfect companion to the CompTIA A+ Complete Study Guide, 3rd Edition this book provides you with extra review and reinforcement of key topics you'll see on the exam. The material is broken into two parts that each focus on a single exam, then organized by domain objective so you can quickly find the information you need most. This new third edition has been updated to reflect the revised exams, with the latest best practices and an emphasis on Windows 8/8.1 and mobile OSes. You also get access to the exclusive Sybex online learning environment featuring over 170 review questions, four bonus exams, 150 electronic flashcards, and a glossary of key terms – over 500 practice questions in all! The CompTIA A+ certification is the essential computer technician credential, and is required by over 100 leading employers. This book gives you the review and practice you need to approach the exam with confidence. Brush up on PC hardware, laptops, printers, and mobile devices Review the fundamentals of networking and security Delve into the latest operating systems and operating procedures Troubleshoot common IT issues, and learn the latest best practices
Making a movie is a lot like going on a road trip. There are twists and turns and lots of surprises along the way.Hit the road with author and illustrator Jeff Kinney and get a behind-the-scenes look at the making of the latest 20th Century Fox movie, Diary of a Wimpy Kid: The Long Haul.Find out what it takes to film a flock of seagulls invading a mini-van. Learn about a robot pig and an animatronic three-year-old. And discover everything that goes into making a feature film.Complete with exclusive set photos, storyboards and original cartoons by Jeff Kinney. The Wimpy Kid Movie Diary: the Next Chapter is the perfect book for anyone who's ever wondered how a movie gets made. But buckle up: You're in for a wild ride.
The book aims to investigate whether the cultural background of nonnative raters has any bearing on how the rating of the oral proficiency interviews (OPI) is conducted within the framework of the national examination in the English language in Estonia. The research comprises the analysis of the rating of twenty video recordings of oral proficiency interviews by two nonnative rater groups – Estonian and Russian ones. The research is complemented by a questionnaire study to examine the rater perceptions of the national examination and the effect of their teaching and rating experiences on the assignment of scores. In spite of the absence of apparent differences in the scores assigned by the raters, the research reveals a substantial difference in regard to the rater behaviour during the rating process as well as their perception of various aspects of the national examination.
Containing concise content review, board-style questions and answers with explanations, and key references, Pain Medicine: A Comprehensive Board Review for Primary and Maintenance of Certification is a high-yield, efficient study aid for residents preparing for the American Board of Medical Specialties (ABMS) certification or recertification in Pain Medicine.
The Accrediting Commission for Community and Junior Colleges (ACCJC) developed the program review and planning rubrics as a supplemental tool for colleges to utilize in analyzing their program review and planning processes in an effort to meet the accreditation standards. This study looked at the perceptions of faculty and administrators in an attempt to realize the depth and breadth of the utilization of the ACCJC’s program review and planning rubrics to meet the accreditation standards and for organizational change through Kotter’s Change Model.
Tight, focused CCNA review covering all three exams The CCNA Routing and Switching Complete Review Guide offers clear, concise review for Exams 100-105, 200-105, and 200-125. Written by best-selling certification author and Cisco guru Todd Lammle, this guide is your ideal resource for quick review and reinforcement of key topic areas. This second edition has been updated to align with the latest versions of the exams, and works alongside the Sybex CCNA Routing and Switching Complete Study Guide, 2nd Edition. Coverage includes LAN switching technologies, IP routing, IP services, IPv4 and IPv6 addressing, network device security, WAN technologies, and troubleshooting—providing 100% coverage of all objectives for the CCNA ICND1, ICND2, and Composite exams. The Sybex online learning environment gives you access to additional study tools, including practice exams and flashcards to give you additional review before exam day. Prepare thoroughly for the ICND1, ICND2, and the CCNA Composite exams Master all objective domains, mapped directly to the exams Clarify complex topics with guidance from the leading Cisco expert Access practice exams, electronic flashcards, and more Each chapter focuses on a specific exam domain, so you can read from beginning to end or just skip what you know and get right to the information you need. This Review Guide is designed to work hand-in-hand with any learning tool, or use it as a stand-alone review to gauge your level of understanding. The CCNA Routing and Switching Complete Review Guide, 2nd Edition gives you the confidence you need to succeed on exam day.
Be prepared for the Network+ exam CompTIA Network+ Review Guide is your ideal study companion for preparing for the CompTIA Network+ exam (N10-006). This concise review is the perfect companion to the CompTIA Network+ Study Guide and the CompTIA Network+ Deluxe Study Guide, with full exam coverage organized by objective for quick review and reinforcement of key topics. Each of the book's five parts is devoted to a specific domain area of the exam, providing a focused review to bolster areas of weak understanding. You get access to the Sybex test engine, which includes two bonus practice tests, electronic flashcards, and a glossary of the most important terms you need to know on exam day. CompTIA's Network+ certification covers advances in networking technology, and reflects changes in associated job tasks. The exam places greater emphasis on network implementation and support, and includes expanded coverage of wireless networking topics. This Review Guide gives you the opportunity to identify your level of knowledge while there's still time to study, and avoid exam-day surprises. Review network architecture and security Understand network operations and troubleshooting Gain insight into industry standards and best practices Get a firmer grasp of network theory fundamentals Reinforce your test prep with this concise guide.
DESCRIPTION:International Review of Cell & Molecular Biology presents current advances and comprehensive reviews in cell biology-both plant and animal. Articles address structure and control of gene expression, nucleocytoplasmic interactions, control of cell development and differentiation, and cell transformation and growth. Authored by some of the foremost scientists in the field, each volume provides up-to-date information and directions for future research Key Features* Authored by some of the foremost scientists in the field* Provides up-to-date information and directions for future research* Valuable reference material for advanced undergraduates, graduate students and professional scientists
DESCRIPTION:International Review of Cell & Molecular Biology presents current advances and comprehensive reviews in cell biologyboth plant and animal. Articles address structure and control of gene expression, nucleocytoplasmic interactions, control of cell development and differentiation, and cell transformation and growth. Authored by some of the foremost scientists in the field, each volume provides up-to-date information and directions for future researchKey Features* Authored by some of the foremost scientists in the field* Provides up-to-date information and directions for future research* Valuable reference material for advanced undergraduates, graduate students and professional scientists
This systematic review presents a clear description and criticism of the relationship of socioeconomic factors to smoking behaviours. The emphasis is on educational attainment and smoking in USA. The aim of this systematic review is to investigate research into the effects of educational attainment on smoking among youths and adults. The literature review itself presents different published papers and reports’ findings on smoking among adults in USA. The methodology has tried to reduce the risk of errors encountered within the reviewed papers. The search for papers to be included in our review was conducted among international peer-reviewed published papers. The review has been conducted according to principles ensuring that it is transparent and updateable. Our systematic review was carried out in an apparent method allowing the reader to understand how the conclusions were reached. Research results were presented in a readable and understandable format. This is an essential reading for all those on courses in public health and/or international health. At the same, it helps researchers and health practitioners who require an understanding of the status of smoking among teenagers.