Basel 2:n vaikutukset pk-yritysten rahoituspäätöksiin

Maailmantalouden globalisoitumisen myötä riskienhallinan rooli erityisesti rahoitusmarkkinoilla on korostunut entisestään. Pankeille on säädetty vakavaraisuusvaatimuksia, joita noudattamalla pyritään rahoitus-markkinoiden vakauden ja läpinäkyvyyden edistämiseen. Tämän tutkimuksen tarkoituksena on selvittää minkälaisia vaikutuksia pankkien uudella vakavaraisuussäädöksellä, Basel 2, on suomalaisten pk-yritysten rahoituspäätöksiin. Aiheesta ei ole vielä Suomessa tehty vastaavanlaista empiiristä tutkimuksesta. Tämä tutkimus on tehty yhteistyössä Elinkeinoelämän keskusliiton kanssa. Tuloksia analysoitiin erilaisten oletushypoteesien mukaan. Kokonaisuudessaan Basel 2:n odotetaan näkyvän yrityksissä kiristyneinä lainaehtoina. Tulosten mukaan noin joka viides yritys raportoi lainaehtojensa kiristyneen viimeisen kahden vuoden aikana. Vakuuksien vaatimus sekä luoton riskiperusteinen hinnoittelu olivat myös lisääntyneet merkittävästi. Lisäksi tutkimuksessa saatiin myös yllättäviä tuloksia esimerkiksi perheyritysten vaikutusten kohdalla. Tuloksissa on pyritty ottamaan huomioon markkinahäiriön aiheuttamat vaikutukset.

Customer Driven Service Development – Technology-based Care and Services for the Elderly

The objective of this master’s thesis was to examine technology-based smart home devices and services. Topic was approached through basic theories, transaction cost theory and resource-based view in order to build basis for this thesis. Conceptual framework was discussed by means of networks, value networks and service systems which provide a useful framework for service development. The needs of the elderly living at home were discussed in order to find out which technology-based services could be used to satisfy the needs. Segmentation and need data collected previously during proactive home visits was exploited and additionally a survey targeted to experts and professionals of social and health care sector was done to verify the needs. Finally, the results of the survey were analyzed using quality function deployment method to figure out the most important and suitable service offerings for the elderly. As a conclusion of analysis, social media and monitoring services are the most useful technology-based services. However, traditional home services will still maintain their necessity too.

Productivity and Services – Safety Telephone Services for the Elderly

Previous research on productivity is often associated with manufacturing or uses manufacturing definitions of productivity. Marketing research on services has not been satisfied with the manufacturing definitions. No universal definition for service productivity exists. The lack of a universal definition highlights the complexity entailed in the concept of productivity. The objective of this study was to investigate service productivity in situations, where traditional ways are in some cases even not possible or are not enough. In one definition of the productivity of service organisations there is the efficiency of the organisation on the input side and on the output side the customers’ perceived quality or value-in-use. To learn about value-in-use, many methods have been developed. A common practice is to make customer opinion surveys in the form of customer questionnaires and interviews. However, customers cannot always be asked directly, for example, because of impaired cognitive abilities. Such cases include the elderly and children. Furthermore, customer opinion surveys are time consuming. In addition, customers do not always know what kind of services they would benefit from. For the empirical part of the study, a business area was identified where traditional ways of measuring value-in-use are difficult or in some cases even not possible. This business area is safety telephone services. These services are most often used by the elderly. The way to define value-in-use here was to assess how well the services offered met customer expectations. Comparing the services customers asked for and the services provided to them indicated whether customer expectations were met. This study showed that customers had their ideas concerning the contents of the services but many times the services provided did not meet these expectations. Organisational efficiency aspirations can decrease customers’ value-in-use. This study found a solution, in which increasing organisational efficiency would go hand-in-hand with increasing customers’ value-in-use; the result being that the organisations’ needs and the service users’ expectations were in line. Value creation for customers produced organisational efficiency and thus increased productivity. In this study, customer expectations were observed by means of wellness technology. With the help of modern technology, customer expectations can be followed quickly and easily and customers can co-create with the organisation. This type of an approach could be useful even in the development of other services for other ages and in different contexts. If a service organisation decreases the number of personnel and, at the same time, tries to offer services to the same or a larger clientele, customers easily notice the change, which is often negative. To avoid harmful decrease in value-in-use, limitations to the aspiration of efficiency should be implemented – one of such is that the organisation is required to meet certain quality standards defined by experts. The aim is to secure that, as a result of efficiency aspirations in the organisation, the quality of the service offerings does not diminish below mutually agreed standards. Traditionally, when productivity in services has been estimated, organisational efficiency has not been combined with both customer expectations and an expert assessment of quality. This study contributes with novel thinking entitled ‘Relationship Management of the Elderly’. This study handles productivity, expert defined quality and value-in-use in an organisational context, which is practically untouched in previous research studies.

Promoting Interoperability and Services Through Shared Identifiers

Panel at Open Repositories 2014, Helsinki, Finland, June 9-13, 2014

Interoperability and Services Through Shared Identifiers

Poster at Open Repositories 2014, Helsinki, Finland, June 9-13, 2014

The impact on advanced economies of north-south trade in manufacturing and services

Many types of production are being transferred from the rich economies of the North to the poorer economies of the South. Such changes began in manufacturing but are now spreading to services. This paper provides estimates of their past and future impact on employment in the North. About 5 million manufacturing jobs have been lost over the past decade because of trade with low-wage economies. A similar number of service jobs may be lost to low-wage economies over the next decade. Although small compared to total employment, such losses may seriously harm certain localities or types of worker.

A arquitetura do sistema financeiro internacional contemporâneo

This paper discusses some features of financial institutions and instruments which originated the financial crisis triggered by increasing default rate, household real estate and financial asset depreciation combined with U.S. subprime mortgages. The first part presents major crisis events in a chronological order. The second part describes the interconnection of the institutions and markets which engendered a global shadow financial system. The third part focuses on an overview of measures taken by government authorities and large banks to bring about possible solutions for the global financial crisis.

Crawling up the value chain: domestic institutions and non-traditional foreign direct investment in Brazil, 1990-2010

Brazil attracted relatively little innovation-intensive and export-oriented foreign investment during the liberalization period of 1990 to 2010, especially compared with competitors such as China and India. Adopting an institutionalist perspective, I argue that multinational firm investment profiles can be partly explained by the characteristics of investment promotion policies and bureaucracies charged with their implementation. Brazil's FDI policies were passive and non-discriminating in the second half of the 1990s, but became more selective under Lula. Investment promotion efforts have often been undercut by weakly coordinated and inconsistent institutions. The paper highlights the need for active, discriminating investment promotion policies if benefits from non-traditional FDI are to be realized.

Rudimentary economics for schools and colleges

UANL

Economic integration in North America: Formal, Informal and Spatial Aspects.

An exemination of a series of indicators of economic integration in the western hemisphere (Canada-USA-Latin America) indicates that it is proceeding under the influence of formal trade agreements and informal forces including technological change, multinational firm rationalization and location strategies, etc.