Central bank intervention and exchange rate behaviour : empirical evidence for India

This paper examines the causal relationship between central bank intervention and exchange returns in India. Using monthly data from December 1997 to December 2011, the empirical results derived from the CCF approach of Cheung and Ng (1996) suggest that there is causality-in-variance from exchange rate returns to central bank intervention, but not vice versa. These findings are robust in the sense that they hold in cases where the returns were measured from either the spot rate or the forward rate. Therefore, the results of this paper suggest that the Indian central bank has intervened in the foreign exchange market to respond to exchange rate volatility, although the volatility has not been influenced by central bank intervention in the form of net purchases of foreign currency in the market.

The Central Bank and bank credits in the Philippines : a survey on effectiveness of monetary policy and its measures

In the post-Asian crisis period, bank loans to the manufacturing sector have shown a slow recovery in the affected countries, unexceptionally in the Philippines. This paper provides a literacy survey on the effectiveness of the Central Bank’s monetary policy and the responsiveness of the financial market, and discusses on the future works necessary to better understand the monetary policy effectiveness in the Philippines. As the survey shows, most previous works focus on the correlation between the short-term policy rates and during the period of monetary tightening and relatively less interest in quantitative effectiveness. Future tasks would shed lights on (1) the asset side – other than loan outstanding – of banks to analyze their behavior/preference in structuring portfolios, and (2) the quantitative impacts during the monetary easing period.

The asset/liability structure of the Philippine banks and non-bank financial institutions in 2000s : a preliminary study for financial access analyses

Based on the consolidated statements data of the universal/commercial banks (UKbank) and non-bank financial institutions with quasi-banking licenses, this paper presents a keen necessity of obtaining data in detail on both sides (assets and liabilities) of their financial conditions and further analyses. Those would bring more adequate assessments on the Philippine financial system, especially with regard to each financial subsector's financing/lending preferences and behavior. The paper also presents a possibility that the skewed locational and operational distribution exists in the non-UKbank financial subsectors. It suggests there may be a significant deviation from the authorities' (the BSP, SEC and others) intended/anticipated financial system in the banking/non-bank financial institutions' real operations.

Boards of directors and bank performance in United Arab Emirates

This study presents an empirical analysis about corporate governance of financial institutions in United Arab Emirates (UAE). The purpose of this research is to analyze the influence of the structure of board of directors on the performance of these institutions. To examine the effect of control exerted by particular families on bank management, we estimated models where the dependent variable is return on assets (ROA) and return on equity (ROE), independent variables are board of directors variables, and control variables are bank management variables. Our results show that the control of corporate governance by a ruler's family within a board of directors has a positive effect on bank profitability. Our results indicate that control by a ruler's family through a bank's board of directors compensates for the inadequacy of UAE's corporate governance system.

Excess capital and bank behavior : evidence from Indonesia

The Indonesian banking sector has been restructured since Asian financial crisis and restored to soundness. The capital adequacy ratio (CAR) returned to a sound level; however, the average excess capital has become too high, while credit disbursement has remained low. This paper investigates the determinants of excess capital among Indonesian banks and its effects on credit growth during the 2000s. The results indicate that the determinants of excess capital vary widely depending on bank type. Return on equity (ROE) affects excess capital negatively among domestic banks, and the effect of non-performing loans is mixed, differing for various bank types. Excess capital affects credit growth positively, except among foreign banks.

Perception of employers and employees regarding the attitude of businesses toward the environment: a qualitative analysis

Commitment and involvement from the different members of an organization are two key elements for an organization to achieve its environmental excellence. Firstly, businesses are aware of the close relationship between their activities and the environment, for they are not only polluting agents but also agents with the capacity to reduce adverse environmental impacts. Secondly, the fact that employees can play a relevant role in terms of the socially responsible measures to be taken by organizations has started to become an irrefutably important issue. This piece of research is intended to help gain knowledge concerning the attitude of the two main actors in productive activity toward the environmental, that is, employers and employees; as well, this research intends to identify factors determining behaviour towards the environmental. For this, we have gathered the ideas and assessments contained in the discourse of a group of small and medium-sized businesses, large company owners and officers, employees, and work related risk prevention representatives. Qualitative work consisted of in-depth interviews and the creation of discussion groups.

Managing team learning in a Spanish commercial bank

Purpose – The purpose of this paper is to analyze how team management affects team-learning activities. Design/methodology/approach – The authors empirically study 68 teams as they operate in the natural business context of a major Spanish bank. Quantitative research utilizing multiple regression analyses is used to test hypotheses. Findings – The leadership behaviour (consideration, initiation of structure) displayed by the team leader plays a key role in facilitating team learning. Team leader behaviour characterised by consideration and in particular by initiation of structure are both positively related to team-learning activities. Cross-training of team members also contributes to team-learning behaviour. Research limitations/implications – A specific setting may limit the generalizability of findings. Further research may accordingly investigate to what extent these results can be generalized to other settings or other aspects of team learning. Practical implications – The leadership style adopted by the team leader, as well as cross-training of members, affect team-learning activities. These results link leadership theory to collective learning in teams and organizations, and suggest ways leaders can contribute to improved learning. Originality/value – The study provides new insight into how management of teams facilitates team-learning activities. While consideration is somewhat related to team learning, initiation of structure as well as cross-training appear as key variables.

Caja Granada Savings Bank, Granada (Spain) 2001

Se trata de una caja de hormigón y piedra que atrapa la luz del sol en su interior para servir a las funciones que se desarrollan dentro de ese "impluvium de luz".

Caja General de Ahorros, Granada = Savings Bank, Granada

Caja General de Ahorros, Granada = Savings Bank, Granada Texto en español e inglés.

A Valuation of SAREB, the Spanish “Bad Bank”, Upside Using the Real Options Methodology

This paper develops a model to analyze the upside potential of profitability of the SAREB (“Asset Management Company for Assets Arising from Bank Restructuring”), the Spanish “Bad Bank”. The model is based in the Real Options methodology, that is especially adequate due to the convergence of two elements, (i) depreciated assets with a high upside potential, and (ii) a highly volatile market as it has shown to be the real estate Spanish market. Our results suggest that the SAREB has a higher than expected profitability potentialthat would be dedicated to increase the return to its shareholders, mainly private banks. Consequently we also show that after the financial crisis are emerging two types of banks in Spain, in one hand the losers who are transferring their real estate assets at a deep discount, and in the other hand the winners, capturing the upside potential of those assets as shareholders of SAREB, and consequently consolidating their strength in the Spanish Real Estate Industry. It is worth to mention that Governments should make an effort in properly redistribute the wealth generated by the real Estate industry.

Caja Granada Savings Bank

Publicación de la obra de Caja Granada

University employees work schedule

The aim of this project is to create a website which is useful both employees and students of a university, so employees can add information, if they log in with username and password access, and students can view this information . Employees may modify and display information such as title, room, or their faculty (from a list defined by the administrator), and most importantly, their schedule, whether class, tutoring, free time, or any of tasks that the administrator define. There will be a manager, responsible for managing employees, the availables faculties and the types of tasks that employees can use on their schedule. Students may see the employees schedules and rooms on the homepage. They differentiate between differents tasks of employees, because these are in different colors. They can also filter information for faculty, employee or day. To achieve our goal, we decided to program in Java using Servlets, which we will use to generate response to requests coming from users from the website. We will also use JSP, allowing us to create different websites files. We use JSP files and not HTML, because we need that the pages are dynamic, since not only want to show specific information, we like that information can change depending on user requests. The JSP file allows us to generate HTML, but also using JAVA language, which is necessary for our purpose. As the information we store is not fixed. We want this information can be modified at any time by employees and admin, so we need a database, which can be accessed from anywhere. We decided SQLite databases because are integrated quite well in our application, and offer a quick response. To access the database from our program, we simply connect it to the database, and with very few lines of code, add, delete or modify entries in different tables that owns the database. To facilitate the initial creation of the database, and the first tables, we use a Mozilla Firefox browser plugin, called SQLite Manager, which allows us to do so from a more friendly interface. Finally, we need a server that supports and implements specifications Servlets and JSP. We decided on the TomCat server, which is a container Servlets, because is free, easy to use, and compatible with our program. We realized all the project with Eclipse environment, also free program that allows integrating database, server and program the JSP and Servlets. Once submitted all the tools we used, we must first organize the structure of the web, relating each Servlets with JSP files. Next, create the database and the different Servlets, and adjust the database accesses to make sure we do it right. From here simply is to build up the page step by step, showing in each place we need, and redirect to different pages. In this way, we can build a complex website, free, and without being an expert in the field. RESUMEN. El objetivo de este proyecto, es crear una página web que sirva tanto a empleados como a alumnos de una universidad, de tal manera que los empleados podrán añadir información, mediante el acceso con usuario y contraseña, y los alumnos podrán visualizar está información. Los empleados podrán modificar y mostrar información como su título, despacho, facultad a la que pertenecen (de entre una lista definida por el administrador), y lo más importante, sus horarios, ya sean de clase, tutorías, tiempo libre, o cualquiera de las tareas que el administrador defina. Habrá un administrador, encargado de gestionar los empleados existentes, las facultades disponibles y los tipos de tareas que podrán usar los empleados en su horario. Los alumnos, podrán visualizar los horarios y despacho de los empleados en la página principal. Diferenciarán entre las distintas tareas de los profesores, porque estas se encuentran en colores diferentes. Además, podrán filtrar la información, por facultad, empleado o día de la semana. Para conseguir nuestro objetivo, hemos decidido programar en Java, mediante el uso de Servlets, los cuales usaremos para generar respuesta antes las peticiones que llegan de los usuarios desde la página web. También usaremos archivos JSP, que nos permitirán crear las diferentes páginas webs. Usamos archivos JSP y no HTML, porque necesitamos que las diferentes páginas sean dinámicas, ya que no solo queremos mostrar una información concreta, si no que esta información puede variar en función de las peticiones de usuario. El archivo JSP nos permite generar HTML, pero a la vez usar lenguaje JAVA, algo necesario para nuestro cometido. Como la información que queremos almacenar no es fija, si no que en todo momento debe poder ser modificada por empleados y administrador, necesitamos una base de datos, a la que podamos acceder desde la web. Nos hemos decidido por bases SQLite, ya que se integran bastante bien en nuestra aplicación, y además ofrecen una rápida respuesta. Para acceder a la base de datos desde nuestro programa, simplemente debemos conectar el mismo a la base de datos, y con muy pocas líneas de código, añadir, eliminar o modificar entradas de las diferentes tablas que posee la base de datos. Para facilitar la creación inicial de la base de datos, y de las primeras tablas, usamos un complemento del navegador Mozilla Firefox, llamado SQLite Manager, que nos permite hacerlo desde una interfaz más amigable. Por último, necesitamos de un servidor que soporte e implemente las especificaciones de los Servlets y JSP. Nos decidimos por el servidor TomCat, que es un contenedor de Servlets gratuito, de fácil manejo, y compatible con nuestro programa. Todo el desarrollo del proyecto, lo realizamos desde el entorno Eclipse, programa también gratuito, que permite integrar la base de datos, el servidor y programar los JSP y Servlets. Una vez presentadas todas las herramientas que hemos utilizado, primero debemos organizar la estructura de la web, relacionando cada archivo JSP con los Servlets a los que debe acceder. A continuación creamos la base de datos y los diferentes Servlets, y ajustamos bien los accesos a la base de datos para comprobar que lo hacemos correctamente. A partir de aquí, simplemente es ir construyendo la página paso a paso, mostrando en cada lugar lo que necesitemos, y redirigiendo a las diferentes páginas. De esta manera, podremos construir una página web compleja, de manera gratuita, y sin ser un experto en la materia.

CLIMA ORGANIZACIONAL E BURNOUT: UM ESTUDO COM SERVIDORES PÚBLICOS FEDERAIS

As condições inadequadas vivenciadas nas organizações afligem não só os trabalhadores da iniciativa privada, pois são igualmente encontradas no segmento estatal, contrariando a expectativa de que o aparato governamental eliminaria as condições insalubres e criaria outras melhores nas quais prevalecesse à promoção de saúde. Diante desse panorama questionou-se porque, uma vez que, pelo menos do ponto de vista da sociedade leiga, esses servidores estão submetidos a condições privilegiadas de trabalho. O presente estudo objetivou identificar e descrever possíveis relações entre o clima organizacional e o burnout em servidores públicos de uma instituição federal de ensino. Objetivou-se ainda descrever o clima organizacional predominante. A pesquisa realizada teve cunho quantitativo, tipo estudo de caso e exploratória. A coleta de dados deu-se por meio das escalas ECO (escala de clima organizacional), ECB (escala de caracterização do burnout) e um questionário sociodemográfico, todos os instrumentos autoaplicáveis eletronicamente disponíveis à instituição. Participaram do estudo 201 servidores públicos federais, com idade média de 37 anos, majoritariamente de nível superior e casados. Os resultados revelaram que cerca de um quarto dos participantes raramente experimentaram burnout, no entanto outra quarta parte deles frequentemente experimentaram altos níveis de burnout, resultado bastante expressivo. Os servidores perceberam clima organizacional mediano, destacando-se a boa coesão entre os colegas de trabalho e a percepção de baixa recompensa. Merece destaque a grande dispersão entre as percepções de clima, o que permite inferir haver subclimas não identificados nesta investigação, possivelmente ocasionados por uma força de clima fraca e pela participação dos servidores de unidades de ensino geograficamente distintas, geridas por gestores locais com relativa autonomia. Os resultados dos cálculos de correlação revelaram que, quanto menos os participantes percebem apoio da chefia e da organização, coesão entre colegas, e mais controle/pressão, mais exaustos se sentem, mais desumanizam as pessoas com quem tratam e mais se decepcionam no trabalho e vice-versa. Conforto físico menor está associado a maior desumanização e a mais decepção no trabalho e vice-versa; e que controle/pressão, relaciona-se positiva e fracamente com desumanização e vice-versa. Desta forma, a hipótese de que existe associação entre burnout e clima organizacional foi confirmada. Os resultados também revelaram que os servidores com burnout, perceberam pior clima organizacional que os seus pares sem burnout, confirmando a segunda hipótese. Esses servidores também se mostraram neutros quanto à percepção de apoio da chefia e conforto físico; não percebem controle pressão, nem recompensa; todavia percebem coesão entre os colegas. Esses resultados sugerem que os participantes têm se apoiado nessas relações para suportar a indiferença e ausência de estímulos experimentados no trabalho. Os resultados obtidos nesse estudo permitiram concluir que o clima organizacional é fraco, provavelmente influenciado por uma cultura organizacional fraca, explicando a heterogeneidade da percepção do clima organizacional pelos servidores. Além disso, embora haja burnout entre poucos participantes, há que se atentar que cerca de um quarto deles, encontra-se acometido desta síndrome e isto poderá contagiar os demais.