Use of GRADE for assessment of evidence about prognosis : rating confidence in estimates of event rates in broad categories of patients.

Main concepts : The Grades of Recommendation, Assessment, Development, and Evaluation (GRADE) approach defines quality of evidence as confidence in effect estimates; this conceptualization can readily be applied to bodies of evidence estimating the risk of future of events (that is, prognosis) in broadly defined populations In the field of prognosis, a body of observational evidence (including single arms of randomized controlled trials) begins as high quality evidence. The five domains GRADE considers in rating down confidence in estimates of treatment effect-that is, risk of bias, imprecision, inconsistency, indirectness, and publication bias-as well as the GRADE criteria for rating up quality, also apply to estimates of the risk of future of events from a body of prognostic studies Applying these concepts to systematic reviews of prognostic studies provides a ful approach to determine confidence in estimates of overall prognosis in broad populations.

Tilinpäätösanalyysi yrityskumppanuuden arviointivälineenä

Tutkielman päätavoitteena on tutkia tilinpäätösanalyysia yrityskumppanuuteen liittyvän riskin arviointivälineenä. Teoriaosan alatavoitteena on tutkia, mitä merkitystä tilinpäätösanalyysilla ja luottokelpoisuusluokituksella on yrityskumppanuuteen liittyvässä riskienhallinnassa. Toisena alatavoitteena on kartoittaa tilinpäätösanalyysin ja luottotietojen avulla, minkälainen riski yrityskumppaneihin liittyy. Kolmantena alatavoitteena on tutkia, onko yhteistyösopimuksilla vaikutusta yrityskumppaneiden kannattavuuteen. Kohdeyritys on Fortum. Teoriaosan tutkimusdoktriinina on käytetty kotimaista ja kansainvälistä kirjallisuutta ja lehtiartikkeleita. Tutkielman empiirinen osa perustuu kohdeyrityksen yrityskumppaneiden tilinpäätösanalyyseihin. Empiirisessä osassa on käytetty myös haastatteluja sekä kohdeyrityksen omaa materiaalia sekä luottotietokyselyjä Kyseessä on case-tutkimus, jossa on hyödynnetty paljon tilinpäätöksiä. Tutkielman johtopäätöksenä voidaan todeta, että tilinpäätösanalyysi on merkittävin toteutettavissa ole riskin arviointiväline, mikäli arvioinnin kohteena on yrityskumppanin taloudellinen tila. Luottotiedot on myös hyvä tarkistaa tässä yhteydessä. Full Text: Null

Pankkien vakavaraisuussäännöstön uudistus

Tutkielman tavoitteena on kuvata pankkien vakavaraisuusuudistuksen eri osa-alueita. Tarkempi analyysi rajautuu uudistuksen tuomiin muutoksiin luotto- ja operatiivisen riskin pääomavaateissa. Tutkielman empiirisen osuuden tavoitteena on perehtyä vakavaraisuussäännöstön uudistusten vaikutuksiin Nordeassa. Tutkimusmetodologiaksi on valittu normatiivinen tutkimusote. Lisäksi tutkielma sisältää deskriptiivisiä ja positivistisia osia. Lähdeaineisto koostuu Baselin pankkivalvontakomitean ja Suomen Pankin julkaisemista tutkimuksista ja dokumenteista sekä alan julkaisuissa ilmestyneistä artikkeleista. Pankkien vakavaraisuussäännöstöuudistuksen tavoitteena on lisätä rahoitusmarkkinoiden vakautta. Sääntelyn kautta pyritään turvaamaan pankkien varojen riittävyys suhteessa niiden riskien ottoon. Vakavaraisuussäännöstön uudistus muodostuu kolmesta pilarista: (1) minimipääomavaatimuksista, (2) pankkivalvonnan vahvistamisesta ja (3) markkinakurin hyödyntämisestä luottolaitosten toiminnan julkistamisvaatimuksia lisäämällä. Pankkivalvonnan harmonisoinnista vallitsee kansainvälinen yhteisymmärrys, mutta ennen kuin Basel II voi astua voimaan on useita ongelmia ratkaisematta. Baselin vakavaraisuuskehikko ei ole ainut lähitulevaisuudessa pankkitoimialaa koetteleva uudistus. Kansainväliset tilinpäätösstandardit; International Accounting Standards ja erityisesti IAS 39 sekä International Financial Reporting Standards, lyhyemmin IFRS tulevat muuttamaan merkittävästi pankkien tilinpäätöskäyttäytymistä. Epäselvää on vielä kuitenkin tukevatko uudistukset toisiaan ja missä määrin pankkien tulosvolatiliteetin odotetaan kasvavan. Tutkielmassa pohditaan vakavaraisuussäännöstön uudistuksen hyötyjä kansainvälisen kilpailuneutraliteetin osalta, sillä Yhdysvalloissa uudistus koskee vain suurimpia pankkeja. Tutkielmassa paneudutaan lisäksi uudistuksen mahdolliseen talouden syklejä voimistavaan vaikutukseen ja tarkastellaan parannusehdotuksia prosyklisyyden hillitsemiseksi. Yksi vakavaraisuusuudistuksen tärkeimmistä tehtävistä on luoda pankeille kannustin kehittää omia riskienhallinta malleja. Kannustin ongelma on pyritty ratkaisemaan vapaampien sisäisten mallien menetelmien avulla. Ongelmaa ei ole pystytty kuitenkaan ratkaisemaan aivan täysin, sillä luottoriskien osalta pankkien lainaportfolioiden rakenne määrittää sen, hyötyvätkö pankit siirtymisestä sisäisten mallien menetelmän käyttöön. Tutkielma sisältää myös Nordean arvion vakavaraisuusuudistuksen vaikutuksista pankkitoimialaan.

The development of credit management

The objective of the examination was to create development suggestions to intensify the credit management in the subject enterprise. The target of the theory part was to add understanding concerning the credit management and to define the process of credit management. The target of the empirical part was to get to know the present conditions of the credit management in the subject enterprise as well as to establish the problems in the process. The research methodology is constructive, but there are also characteristics of action research.The target of constructive methodology is to create a solutionmodel for the relevant research problem. The methods used in the empirical part were participating observation, literary material and interviews. Within the results of the research a number of development suggestions for the credit management were presented. It is possible to achieve considerable returns while shortening the chain of cash payments. In the suggestions the importance of cooperation between different functions as well as training were emphasized.

How patient-centered do female physicians need to be? Analogue patients' satisfaction with male and female physicians' identical behaviors (Published online: 30 Aug 2014)

Previous research suggests that female physicians may not receive appropriate credit in patients' eyes for their patient-centered skills compared to their male counterparts. An experiment was conducted to determine whether a performance of higher (versus lower) verbal patient-centeredness would result in a greater difference in analogue patient satisfaction for male than female physicians. Two male and two female actors portrayed physicians speaking to a patient using high or low patient-centered scripts while not varying their nonverbal cues. One hundred ninety-two students served as analogue patients by assuming the patient role while watching one of the videos and rating their satisfaction and other evaluative responses to the physician. Greater verbal patient-centeredness had a stronger positive effect on satisfaction and evaluations for male than for female physicians. This pattern is consistent with the hypothesis that the different associations between patient-centeredness and patients' satisfaction for male versus female physicians occur because of the overlap between stereotypical female behavior and behaviors that comprise patient-centered medical care. If this is the case, high verbal patient-centered behavior by female physicians is not recognized as a marker of clinical competence, as it is for male physicians, but is rather seen as expected female behavior.

Microfinance and credit rationing in Ghana: Does the microfinance type matter?

This study sets out to examine the extent to which access to credit and credit rationing are influenced by the microfinance type based on the major factors determining micro, small and medium enterprises’ access to credit from microfinance institutions in the era of financial liberalization. The data for the study were gleaned from the microfinance institutions’ credit and loan records consisting of the various pieces of information provided by the borrowers in the application process. Our results are puzzling and show that credit rationing is not influenced by the microfinance types but by the individual microfinance institutions. Keywords: Microfinance, Ghana, Credit Rationing. JEL codes: G21

Amyloid Beta Precursor Protein: Proper Credit for the Basic Biochemical Properties of the Most Studied Protein in the 21st Century

The amyloid precursor protein (APP) is mainly known for being the precursor of the ß-amyloid peptide, which accumulates in plaques found in the brain of Alzheimer's disease patients. Expression in different tissues and the degree of sequence identity among mammals indicate an essential and non-tissue specific physiological function. APP is anchored to the membrane and displays a single C-terminal intracellular domain and a longer N-terminal extracellular domain. The basic biochemical properties and the scattered data on research, not related to production of beta-amyloid peptide, suggest that the protein and the molecules resulting from APP proteolytic cleavage may act as adhesion factors, enzymes, hormones/neurotransmitters and/or protease inhibitors. APP deserves to be known for its quite notable properties and its physiological role(s).

Determinants of credit default swap spread, the effect of the financial crisis in the us markets

The purpose of this study is to define what determinants affect the Credit spread. There are two theoretical frameworks to study this: structural models and reduced form models. Structural models indicate that the main determinants are company leverage, volatility and risk-free interest rate, and other market and firm-specific variables. The purpose is to determine which of these theoretical determinants can explain the CDS spread and also how these theoretical determinants are affected by the financial crisis in 2007. The data is collected from 30 companies in the US Markets, mainly S&P Large Cap. The sample time-frame is 31.1.2004 – 31.12.2009. Empirical studies indicate that structural models can explain the CDS spreads well. Also, there were significant differences between bear and bull markets. The main determinants explaining CDS spreads were leverage and volatility. The other determinants were significant, depending on the sample period. However, these other variables did not explain the spread consistently.

Financier’s credit risk: A Performance-Based Classification Model

The purpose of this study is to view credit risk from the financier’s point of view in a theoretical framework. Results and aspects of the previous studies regarding measuring credit risk with accounting based scoring models are also examined. The theoretical framework and previous studies are then used to support the empirical analysis which aims to develop a credit risk measure for a bank’s internal use or a risk management tool for a company to indicate its credit risk to the financier. The study covers a sample of Finnish companies from 12 different industries and four different company categories and employs their accounting information from 2004 to 2008. The empirical analysis consists of six stage methodology process which uses measures of profitability, liquidity, capital structure and cash flow to determine financier’s credit risk, define five significant risk classes and produce risk classification model. The study is confidential until 15.10.2012.

Towards the Best A++ Rating Productivity of Research and Teaching in Finnish Universities

Tämän tutkimusraportin suomenkielinen versio on osoitteessa: http://urn.fi/URN:ISBN:978-951-29-4509-2

Turbidimetry as an alternative method to determine the rating curve of suspended sediments

Understanding hydrosedimental behavior of a watershed is essential for properly managing and using its hydric resources. The objective of this study was to verify the feasibility of the alternative procedure for the indirect determination of the sediment key curve using a turbidimeter. The research was carried out on the São Francisco Falso River, which is situated in the west of the state of Paraná on the left bank of ITAIPU reservoir. The direct method was applied using a DH-48 sediment suspended sampler. The indirect method consisted of the use of a linigraph and a turbidimeter. Based on the results obtained, it was concluded that the indirect method using a turbidimeter showed to be fully feasible, since it gave a power function-type mathematical model equal of the direct method. Furthermore, the average suspended sediment discharge into the São Francisco Falso River during the 2006/2007 harvest was calculated at 7.26 metric t day-1.