Credit Risk Management for Mongolian Banks Essay

The importance of optimal decision-making and precise predictions is not limited to banks only but also of importance to other financial institutions. Nowadays, financial markets are becoming increasingly uncertain and interdependent, making accurate prediction of future market directions a near impossible task. Although, in case of Mongolia, some econometric models are being tested for the last two decades, practical application is lackluster and it is common practice for businessmen to make decisions based on intuition and gut feeling. Unfortunately, this unscientific approach to decision making is quite commonplace. The objective of this research is to overcome conditions and to identify the best evaluation model for credit risk forecasting for banking institutions. From a theoretical point of view, this research paper introduces a literature review on the application of back propagation algorithm of an artificial neural network, linear probability model, and binary choice (logit probit) model for credit risk management. Whereas, from an empirical point of view, this research compares the econometric models and artificial neural network using Mongolian banks’ credit risk data, and shows the differences between the aforementioned four models. We demonstrate that artificial neural network model is more convenient for Mongolian banks’ credit risk management than other econometric models due to the models’ evaluation and forecast accuracy. Therefore, we recommend Mongolian banks and financial institutions to apply ANN model to forecast credit risk and to hedge risk. Key words: credit risk management, linear probability model, binary choice logit and probit model, artificial neural network, back propagation algorithm, forecasting.

Internationalisation of Fashion Company in Brazil Research Paper

Internationalisation of Fashion Company in Brazil - Research Paper Example The research paper "Internationalisation of Fashion Company in Brazil" talks about the ways to present a luxury fashion company on the Brazil fashion market and how to successfully expand its consumer. The internationalization strategy to be pursued should be chosen carefully in order to determine the best approach in the luxury fashion product market. The foreign market expansion is not a new concept. For over two decades, intercontinental development in the trend industry had been unparalleled. The emergence of super-brands has sparked intense competition. The market positioning of some brands makes them more appealing than others. Internationalization can be defined as the sourcing of goods from overseas markets. Buying from worldwide markets is aggravated by the economic and competitive consideration. Fashion companies seek to obtain gain from a low cost of labor in the underdeveloped economies. The global fashion brand has caused most of the people to look for the most successful brands like the Ralph Lauren and Carolina Herrera. The super brands have left the fashion buyers with little choice but to ignore the lesser known brands. Expansion strategies are important when dealing with recessionary pressure. The emergence of a cosmopolitan and fashion-informed consumer market has caused global expansion. And technology has enabled online transactions. This led to an amplified union in worldwide lifestyles. This allowed the fashion industry retailers to correspond efficiently with the customers in foreign markets. International fashion and design companies have succeeded partly because of design excellence, cosmopolitanism and exclusivity (Alexander & Myers 2000). The Carolina Herrera and Ralph Lauren companies have indentified their market niche. The companies target the clients who deal with accessories, garments and apparels. The companies aim at offering differentiated products of high quality (Charles & Gareth 2012). The same market is the target of the rival companies like Loewe. The future of companies like Ralph Lauren and Carolina Herrera and other fashion retailers lies in the internalization strategy. Many domestic markets have been saturated by local brand leading to lessening of profits. Intense local markets competition has caused constraints to complicate the strategic management of these organizations (Charles & Gareth 2012). The rise of global sourcing by fashion retailers and technological advances has made it easy for companies to target the global market (Chevalier & Mazzalovo 2012).

Philosophy Paper Essay Example | Topics and Well Written Essays - 1000 words - 1

Philosophy Paper - Essay Example An in-depth analysis of Aristotle’s criticism of Plato will necessarily reveal that, in some cases, Aristotle has failed to perceive the heart of Platonic concept of ‘form’. In other cases, it seems that Plato himself failed to predict oppositions such Aristotle’s criticisms and, therefore, to add some reasonable tenets to the concept of ‘form’. For example, he could say that Forms are the replications of the One and Oneness, and as the terms, ‘one’ and ‘many’, are meaningless without one another, ‘form’ and ‘particulars’ are meaningless without each other. For human cognitive process, both are simultaneously necessary, though ‘form’ precedes physical reality, as one precedes many. Indeed, these tenets are inherent to the idea of ‘form’ and they need not be invented; rather they need to be discovered. Aristotle’s criticisms themselves have limitations; therefor e, referring to those limitations and proving the effectiveness of the concept of ‘form’ to explain those limitations, Plato could make his theory of ‘form’ more self-sufficient. Plato claims that different ‘forms’ of different physical realities exist prior to the existence of physical realities. For him, the physical realities are the replicas or facsimiles of the ‘form’. He sees it as the ideal essence of the physical existence of things in this world. It is perfect, indivisible, transcendent and immutable. He believes that because of an innate idea of these forms, man can know things as they are. On the other hand, Aristotle complains that though ‘form’, as Plato assumes, exists prior to things’ physical existence, â€Å"Forms arises even of things of which we think there are no Forms† (Socrates 27). He further complains that Plato’s ‘form’ is applicable to static images of things (which he often names ‘substance’); therefore, it is not applicable to dynamic process of things such dissolution, decay, birth, etc. In Aristotle’s own words, â€Å"what on earth the Forms contribute to sensible things, either to those that are eternal or to those that come into being and cease to be. For they cause neither movement nor any changes in them† (Socrates 28). He makes his third criticism on the ground that the ‘substance’, which is concrete also, cannot evolve from the abstract, as he says, â€Å"All other things cannot come from the Forms in any of the usual senses of 'from'† (Socrates 34). Aristotle’s most severe criticism of Aristotle comes in a form of question: â€Å"why should '2' be one and the same in the perishable 2's or in those which are many but eternal, and not the same in the '2 itself' as in the particular 2?† (Socrates 39) Here, he asks that if two different particulars have something in comm on, will there be three forms (two for the two particulars and one for the common feature)? Plato could star his refutation of Aristotle’s criticisms by excavating the inherent limitations of Aristotle’s theory of ‘substance’. According to Plato, â€Å"‘Forms’ are as it were patterns fixed in the nature of things. The other things are copied from the Forms and are similarities.†

Functional Analysis Research Paper Example | Topics and Well Written Essays - 250 words

Functional Analysis - Research Paper Example and-use planners need to consider all aspects of land-use legislation, as well as the requirements of the population while developing plans for the new projects. Governments of different countries set different types of legislations for the use of land. Land-use planners should never overlook government policies because it can create problems at some point in future. Therefore, planners need to consider the legislations in order to develop acceptable land-use plans. Similarly, planners also need to study current requirements of the community in order to incorporate those requirements in the land-use plans. Planners should also design the physical layout of the community along with determining the scale of development allowed in different areas (Hunter, n.d.). Planners should also be able to understand future demands of the area around the land, which needs to be developed. The reason is that future may bring a need for change somewhere around the planned land in the form of infrastru ctural change or change in policies related to the use of land. Therefore, planners must be able to forecast those changes in order to develop such plans, which should meet both current and future demands of organizations and

Emotional Intelligence Essay Example | Topics and Well Written Essays - 1250 words - 1

Emotional Intelligence - Essay Example coined the phrase â€Å"emotional intelligence† which they defined as being a type of social intelligence that included the ability to monitor their own feelings and those of people around them. This awareness would allow the individual to use that information to modify their own behavior and speech patterns to greatly increase their chances of successful communication. However the concept of emotional intelligence has been traced back to Edward Thorndike and his work Law of effect research (1911). The key element of Thorndike’s (1911) theory was the idea that in cases where responses are made to a situation, if the consequence of those responses was a positive experience (bringing pleasure) then it was more likely for those responses to be evident again in future similar situations. Conversely those situations that bring about a negative consequence (pain) were not likely to result in recurring responses for future events. Thereby Thorndike offered a positive and negative law of effect. This was the first time that such a theory had been proposed and supported by experimental evidence. His later work on animal intelligence made constant reference to this same theory. For example he noted that in his experiment of a cat in a box that â€Å"gradually all the other non-successful impulses will be stamped out and the particular impulse leading to the successful act will be stamped in by the resulting pleasure†¦Ã¢â‚¬  (1898, p.13). He made similar observations about confined chickens. What he was looking for, or appeared to have identified was a connectionist theory that could explain the mechanism behind reinforcer action. This was an idea that was explored by later researchers such as Hull (1943) and more notably Skinner’s work on reinforcement. Skinner’s (1938) work on reinforcement did address a noted criticism of Thorndike’s work: namely circularity and affect. Thorndike’s aim was to find the underlying mechanism for certain actions – namely

Employee Relations Research Paper Example | Topics and Well Written Essays - 1500 words - 1

Employee Relations - Research Paper Example It is recommended to consider the employees as valuable assets and make them spend time on telecommuting. A flexible work schedule can also be introduced in the company to increase the morale of the employees (Time Inc, 2013). It was also viewed that the products produced in the company were low in quality because of which it was facing severe problems. Thus, it is considered that the company should establish certain goals related to quality in order to measure the manufacturing process of the organisation and the outcomes of the manufactured product. It is also recommended to focus on the initiative of improving the outcomes of the manufactured product that would help Philips to obtain recognition in its new plant of Manila. Besides, administrators functioning at the new plant should ensure that they provide their expertise of guiding and consulting the workers in their respective departments to make certain that the workers achieve their targets and the quality and the overall perf ormance of the workers are improved. In addition, it is very important to classify the potential opportunities for improving the quality of products by constantly monitoring the work performance and ensuring that the standard and quality of the goods produced meet the expectation of the customers along with providing them optimum satisfaction. It is also very essential for the administrators to design a system that is very efficient as per the work requirements so as to implement initiative for improvement which would directly.

Assignment Example | Topics and Well Written Essays - 250 words - 375

Assignment Example fixed and the damping is reduced to zero, the wave oscillates with gradually increasing amplitude above the natural frequency of the generating medium. When set on the loose end, with the initial default conditions kept constant, the wave gradually decays in an exponential manner and when the damping is offset the wave oscillates with almost equal amplitude. However setting no end on, with zero damping a wave with crests of equal amplitude is generated and a smooth wave flow is observed. Additionally, when the damping is set at zero and at loose end, the amplitude of the wave increases gradually and the wave interferes destructively and starts over and over again. A similar condition is experienced when it is set at the fixed end with zero amplitude, in which case, the reflected part of the wave interferes destructively constantly. The natural phenomena like tides in oceans, earthquakes and waves on a string are examples The term standing wave is used to denote the resonant mode of the vibrating string or the simulation used in this experiment. The resonance in this simulation is created by constructive interference of two waves which travel in opposite directions in the same medium creating a simple harmonic oscillator. Diagrams 1 through 4 in the inserted pictures above show how the wave transits from one stage to another and eventually returns to the initial position showing a simple harmonic