An empirical analysis of the factors affecting bank crises in Japan : learning points for Bangladesh

This paper analyzes the factors that affect bank crises in Japan. There are numerous factors, qualitative and quantitative, identified from the analysis. For the quantitative analysis, the study employs the factor analysis, which detects three major components of factors that affect banking or financial crises in Japan. These are (i) common macro factors; (ii) bank sensitive micro factors; and (iii) household spending related factors. There are other factors, for example, policy dilemma, delayed or faulty deregulation measures and weak banking activities, which are not extracted from the factor analysis but adversely affect bank crises in Japan and hence discussed in details. The paper indicates some policy implications for the banking/financial sector of Bangladesh.

The 1947 bank nationalisation scheme : a prehistory of issues management?

Industry-wide crises emanating from legislative proposals are rare in Australia, and can be classed as once in a generation events, and so merit consideration and research. Currently, there is one such debate over the Mineral Resources Rent Tax, proposed by Prime Minister’s Julia Gillard’s government. Prior to this, the closest comparable event was the 1974 proposal for the establishment of a universal health insurance scheme. The 1947 proposal, by the Ben Chifley-led Labor Government, aimed to nationalise Australia’s banks, and it brought a crisis of massive proportions to Australia’s conservative financial service industry. Although the High Court of Australia finally found Chifley’s proposed legislation unconstitutional, the banks realised they must win in the court of public opinion, generate press coverage in favour of their position, and help defeat the Labor Government at the 1949 election. At the time, and for some decades to come, this was the most expensive and largest public relations campaign waged in Australia. After such a campaign there could be few Australians who could claim that they had not been exposed to the powers of public relations in a modern world. This paper looks at what can be learned from the banks’ collective response to the proposed nationalisation. It does so by applying contemporary issues management evaluation techniques.

Audit of the Douglas Hocking Research Institute bone bank : ten years of non-irradiated bone graft

Background:  An audit performed in the use of non-irradiated femoral head bone graft at the Geelong Hospital over a 10-year period. While it is thought the non-irradiated bone graft provides a better structural construct there is theoretical increased risk of infection transmission.

Methods:  We performed a retrospective review of prospectively collected data in the use of non-irradiated bone allograft used from the Geelong Hospital Douglas Hosking Research Institute bone bank over a 10-year period. The review was performed using data collected from the bone bank and correlating it with the patient’s medical record. All complications, including infections, related to the use of the allograft were recorded.

Results:  We found that over the 10 years to 2004 that 811 femoral heads were donated, with 555 being used over 362 procedures in 316 patients. We identified a total of nine deep infections, of which seven were in joint replacements. Overall this was a 2.5% deep infection rate, which was lowered to 1.4% if the previously infected joints that were operated on were excluded.

Conclusion:  The use of non-irradiated femoral head bone graft was safe in a regional setting.

A guided rule reduction system for prioritization of failures in fuzzy FMEA

Traditional Failure Mode and Effect Analysis (FMEA) utilizes the Risk Priority Number (RPN) ranking system to evaluate the risk level of failures, to rank failures, and to prioritize actions. Although this method is simple, it suffers from several shortcomings. In this paper, use of fuzzy inference techniques for RPN determination in an attempt to overcome the weaknesses associated with the traditional RPN ranking system is investigated. However, the fuzzy RPN model, suffers from the combinatorial rule explosion problem. As a result, a generic rule reduction approach, i.e. the Guided Rule Reduction System (GRRS), is proposed to reduce the number of rules that need to be provided by users during the fuzzy RPN modeling process. The proposed approach is evaluated using real-world case studies pertaining to semiconductor manufacturing. The results are analyzed, and implications of the proposed approach are discussed.

Fuzzy FMEA with a guided rules reduction system for prioritization of failures

Purpose – To propose a generic method to simplify the fuzzy logic-based failure mode and effect analysis (FMEA) methodology by reducing the number of rules that needs to be provided by FMEA users for the fuzzy risk priority number (RPN) modeling process.

Design/methodology/approach – The fuzzy RPN approach typically requires a large number of rules, and it is a tedious task to obtain a full set of rules. The larger the number of rules provided by the users, the better the prediction accuracy of the fuzzy RPN model. As the number of rules required increases, ease of use of the model decreases since the users have to provide a lot of information/rules for the modeling process. A guided rules reduction system (GRRS) is thus proposed to regulate the number of rules required during the fuzzy RPN modeling process. The effectiveness of the proposed GRRS is investigated using three real-world case studies in a semiconductor manufacturing process.

Findings – In this paper, we argued that not all the rules are actually required in the fuzzy RPN model. Eliminating some of the rules does not necessarily lead to a significant change in the model output. However, some of the rules are vitally important and cannot be ignored. The proposed GRRS is able to provide guidelines to the users which rules are required and which can be eliminated. By employing the GRRS, the users do not need to provide all the rules, but only the important ones when constructing the fuzzy RPN model. The results obtained from the case studies demonstrate that the proposed GRRS is able to reduce the number of rules required and, at the same time, to maintain the ability of the Fuzzy RPN model to produce predictions that are in agreement with experts' knowledge in risk evaluation, ranking, and prioritization tasks.

Research limitations/implications – The proposed GRRS is limited to FMEA systems that utilize the fuzzy RPN model.

Practical implications – The proposed GRRS is able to simplify the fuzzy logic-based FMEA methodology and make it possible to be implemented in real environments.

Originality/value – The value of the current paper is on the proposal of a GRRS for rule reduction to enhance the practical use of the fuzzy RPN model in real environments.

Hybrid cloud resource provisioning policy in the presence of resource failures

Resource provisiomng is an important and challenging problem in the large-scale distributed systems such as Cloud computing environments. Resource management issues such as Quality of Service (QoS) further exacerbate the resource provisioning problem. Furthermore, with the increasing functionality and complexity of Cloud computing, resource failures are inevitable. Therefore, the question we address in this paper is how to provision resources to applications in the presence of resource failures in a hybrid Cloud computing environment. To this end, we propose three Cloud resource provisioning policies where we utilize workflow applications to drive the system workload. The proposed strategies take into account the workload model and the failure correlations to redirect requests to appropriate Cloud providers. Using real failure traces and workload models, we evaluated the performance and monetary cost of the proposed policies. The results of our experiments show that we can decrease the deadline violation rate of users' requests to as low as 20% with a limited cost on Amazon public Cloud.

Corporate governance and bank performance: evidence from Bangladesh

This study investigates the relationship between the corporate governance structure and performance of listed banks in Bangladesh. We find that board independence and board size have a significant positive impact on performance. However, female directors appear to have no impact on performance. Our evidence indicates that the extent of the managerial ownership level has a significant negative impact on bank performance. These results suggest that better corporate governance mechanisms are imperative for every banking company and should be encouraged for the interest of the investors and other stakeholders.

“Giving Dracula the keys to the blood bank? Interrogating the Fifth Crown Casino Licensing Regulatory Review

Drawing on narrative analysis, this paper analyses the 2013 Fifth Regulatory Review of the license of an Australian casino as a case study focused on the framing and articulation of ‘responsible gambling’ (RG) in the Review. Part 1 sets out the policy and regulatory context for the licensing review of Melbourne’s Crown Casino. Part 2 overviews the structure/content of the Review; the key messages of the Reviewers’ narrative and its main recommendations. In reflecting on the Review in Part 3, analysis focuses on the investigation and recommendations regarding Responsible Gambling, which has gained recent policy priority. The analysis interrogates the Review’s findings, narratives, processes and evidentiary base in relation to how it presents and assesses casino performance on RG. In doing so, it focuses on the Victorian Commission for Gambling and Liquor Regulation’s Review’s framing of RG; sources of evidence drawn on by the Review; an assessment of the casino’s loyalty club feature ‘Play Safe’, as an RG measure; the Review’s assessment of casino performance on RG and its Code of Conduct in particular; and the Review’s framing of RG recommendations. It concludes with reflections on governance issues raised by the Review, the need for more focus on the neglected area of regulatory licensing and enforcement (OECD, 2011; 2012; OECD & European Commission, 2009) and the need for independent regulatory reviews that address conflicts of interest on the part of both Government and the Regulator.

External policy influence and higher education reform in Ethiopia : understanding symbolic power of the World Bank

Increasingly national policy processes are intersected with and affected by global policy actors and ideas. In aid-recipient countries such as Ethiopia, donors use financial and non-financial means to influence national policy decisions and directions. This paper is about the non-financial influence of the World Bank (WB) in the Ethiopian higher education policy reform. Using Pierre Bourdieu’s concept of symbolic power as a ‘thinking tool’, the paper aims to shed light on forms of symbolic capital that the Bank uses to generate a ‘misrecognisable’ form of power that regulates the HE policy process in Ethiopia. The findings show that the WB transforms its symbolic capital of recognition and legitimacy to establish a ‘shared misrecognition’ and thereby make its policy prescriptions implicit and hence acceptable to local policy agents. The Bank uses knowledge-based regulatory instruments to induce compliance to its neoliberal policy prescriptions. The paper therefore underscores the value of symbol power as an analytical framework to understand elusive but critical role of donors in policy processes of aid recipient countries.

Vibration based damage identification of a scale-model steel frame structure subjected to bolt connection failures

Large-span steel frame structures prove to be an ideal choice for their speed of construction, relatively low cost, strength, durability and structural design flexibility. For this type of structure, the beam-column connections are critical for its structural integrity and overall stability. This is because a steel frame generally fails first at its connectors, due to the change in stress redistribution with adjacent members and material related failures, caused by various factors such as fire, seismic activity or material deterioration. Since particular attention is required at a steel frame’s connection points, this study explores the applicability of a comprehensive structural health monitoring (SHM) method to identify early damage and prolong the lifespan of connection points of steel frames. An impact hammer test was performed on a scale-model steel frame structure, recording its dynamic response to the hammer strike via an accelerometer. The testing procedure included an intact scenario and two damage scenarios by unfastening four bolt connections in an accumulating order. Based entirely on time-domain experimental data for its calibration, an Auto Regressive Average Exogenous (ARMAX) model is used to create a simple and accurate model for vibration simulation. The calibrated ARMAX model is then used to identify various bolt-connection related damage scenarios via R² value. The findings in this study suggest that the proposed time-domain approach is capable of identifying structural damage in a parsimonious manner and can be used as a quick or initial solution.