Top PDF ECONOMIC NATURE OF THE FINANCIAL REGULATION OF INSURANCE MARKET

ECONOMIC NATURE OF THE FINANCIAL REGULATION OF INSURANCE MARKET

ECONOMIC NATURE OF THE FINANCIAL REGULATION OF INSURANCE MARKET

Author made critical review of researches and found out the existance of the problem of determination and differentiation in a scientific litera- ture the concepts "financial regulation of the insurance market", "government financial regulation of the insurance market" and "government regu- lation of the insurance market". It is offered the consideration of the insurance market from positions of analysis of the complex systems as being the component part of the greater system. It is disclosured the economic nature and determined the mentioned notions.
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Bank business models, regulation, and the role of financial market participants in the global financial crisis

Bank business models, regulation, and the role of financial market participants in the global financial crisis

13 A number of papers included in this special issue attempt to improve our modelling and understanding of the behavior of financial markets. A widely acknowledged fact in finance is that investor preferences do take into account the existence of skewed returns (see, e.g. Martellini and Ziemann, 2010). The paper by Alexandra Dias in this special issue makes an important contribution to the literature by investigating the out-of-sample economic value of introducing the risk of very large losses in portfolio selection, by combining mean-variance analysis with conditional Value-at-Risk. Interestingly, she shows that strategies that account both for the variance and probability of large losses significantly outperform efficient mean- variance portfolios, especially during and after the global financial crisis. The implications of these results cannot be overlooked: when building risky portfolios if investors correctly take into account tail risks, asset prices will reflect more appropriately potential market tail events, which could help with hedging strategies, therefore reducing their overall impact on the economy.
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Rev. contab. finanç.  vol.28 número75

Rev. contab. finanç. vol.28 número75

Due to the economic, inancial, and social relevance of the inancial and insurance market, the perspective that has stood out, although regulation and self-regulation are to some extent complementary, is the one that argues that it is the State’s job to intervene in the market, by establishing standards, however minimum, to guarantee the stability of the system and correct possible distortions. he more complex the products and services involved, the greater the need for State regulation, in order to uphold commitments made to the most vulnerable (in other words consumers) and maintaining market equilibrium forms part of this.
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European Globalisation Adjustment Fund-Assistance in the Labour Market

European Globalisation Adjustment Fund-Assistance in the Labour Market

on the beneficial consequences of free trade on the eсonomic development and employment labour, being especially targeted workers with low competences or socially vulnerable. Since , EGAF has introduced and considered a second criteria for providing support, namely, one related to financial and economic crisis. )n , there was a significant increase of the number of applications received by the EGAF. )n the first place, this is influenced by introducing amendment Regulation and taking into account, in addition, to criteria related to trade and the related crisis. Thus, during - Member States submitted a total of applications, and most of them are those related by the crisis.
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STATE REGULATION OF INVESTMENT INSURANCE COMPANIES IN UKRAINE

STATE REGULATION OF INVESTMENT INSURANCE COMPANIES IN UKRAINE

In the article the essence of investment insurance company. The role and importance of investment of insurance companies on formation of investment resources in the economy. The essence of the definition of "investment potential of insurance companies" and its relationship with the definition of "financial strength of insurance companies' insurance and potential insurance companies." By analyzing the structure and dynamics of aggregate investment portfolio of insurance organizations of Ukraine in 2008-2015 years defined contribution insurance sector in the formation of investment resources. The problems and prospects of the investment potential of the insurance market of Ukraine. Directions of improvement of state regulation of investment of insurance companies in Ukraine.
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The analysis of solidification process of ferritic-austenitic cast steel

The analysis of solidification process of ferritic-austenitic cast steel

The possibility of increasing the hardness of the copper- containing alloy by ageing has made it reasonable to choose cast steels with copper addition for castings working under corrosive-erosive conditions, such as elements of pump casing, impellers, connector pipes, guide vanes, etc [3]. But the quantity of defected castings (due to hot cracking) and the difficulty with the copper-containing scrap management at piece production have resulted in the fact that Polish power industry still uses imported elements [4].
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Modeling stock markets through the reconstruction of market processes

Modeling stock markets through the reconstruction of market processes

The purpose of modelling a process is not only to describe its past and understand its current behavior, but also to try and get some insight into its possible future path. One can argue that for as long as markets have existed, there have been those who tried to beat them. Though arbitrage, insider information and other methods may be valid for some markets, they aren’t for the financial markets as such advantages are so readily resolved that they can be considered practically inexistent. One must then try to get advantage in a different way, for example, by trying to predict the future price of a given asset and thus contrive a strategy to achieve a profit.
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CONTINUOUS CREATION IN THE PROBABILISTIC WORLD OF THE THEOLOGY OF CHANCE

CONTINUOUS CREATION IN THE PROBABILISTIC WORLD OF THE THEOLOGY OF CHANCE

Let us suppose that such a scenario is true. We must at the very begin- ning note that God, when He brings about the existence of x and its essential parts, determines the range and kind of its possible accidental properties as well as its substantial changes. For example, a table cannot sing and a hu- man cannot ly (like a bird can). Thus if x belongs to a kind K (x is K), then no other contingent being (substance) can bring it about that x is F, if F is incompatible with K. But if it is true for any substance x that x is F or x is not F, meaning that x is determinate in every respect and F is not essential for x, then it must be the case that if God brought about the existence of x, then he brought about that x is F or (non-F). If x has been created by God, then x must be determinate in every respect, since x is a substance. Therefore x is F or x is non-F. It is also impossible that any non-essential properties of x could be (directly and totally) caused by other created substances, because every other substance distinct from x has to have all its own properties, in- cluding all its accidental properties. It must be so because every substance to be a substance must have all its properties both essential and accidental. Thus it is not possible that any substance created by God (ex nihilo) could bring about the existence of any accidental properties of any other substan- ce because all its properties (parts or constituents) are determined directly (intimately) and totally by God.
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Effect of heat treatment parameters on the properties of low-alloy cast steel with microadditions of vanadium

Effect of heat treatment parameters on the properties of low-alloy cast steel with microadditions of vanadium

This article examines the effect of prolonged time of holding at the temperature of 620 0 C on the processes of secondary phase precipitation and mechanical properties of low-alloy cast steel with an addition of vanadium subjected to two variants of heat treatment, i.e. U:1150 0 C+H:950 0 C+O:620 0 C and H:950 0 C+O:620 0 C. To determine an impact of the applied heat treatment operations, testing of mechanical properties and microstructural examinations of the cast steel with 0,21 and 0,27%C were carried out.
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EVOLUTION OF THE ROMANIAN RESIDENTIAL MARKET  AFTER OUTBREAK OF THE CURRENT ECONOMIC AND FINANCIAL CRISIS

EVOLUTION OF THE ROMANIAN RESIDENTIAL MARKET AFTER OUTBREAK OF THE CURRENT ECONOMIC AND FINANCIAL CRISIS

In terms of residential areas, the data below shows that the greatest decrease in the number of home constructions, by 36.77%, was registered in the urban environment in 2011. The volume of housing constructions in rural areas dropped by 8.6% in 2009, more than in the case of urban areas. The decreasing ratio for rural and urban areas was approximately the same in 2010, whereas in 2011, the decrease in the number of homes given into service in cities (-36.77%) exceeded the decrease percentage registered in rural areas (- 25.73%). Similarly, in terms of financing sources, it is noted that the public funds for housing increased in 2009 and dropped dramatically during the following years (approx. 49%). In regard of this situation, it must be pointed out that 2009 is the debut of the nation al programme sustained by the government, called the “First Home”, which is behind the 27.63% increase in the number of homes financed from budgetary resources earmarked for this economic sector. The highest level of funds was allocated in the first phase of the programme, roughly of 1 billion Euros.
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CD13.R12: Housing programs in the Americas

CD13.R12: Housing programs in the Americas

Bearing in mind that in the discussions held and in the resolutions adopted in recent years for the purpose of promoting the economic and social development of Latin America, which found expression in the decisions taken at Bogotá and Punta del Este, health has been acknowledged as a basic component of social and economic development;

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The comparison of the structure and microhardness of the tool steel C90 and HS 6-5-2 remelted with the electric arc

The comparison of the structure and microhardness of the tool steel C90 and HS 6-5-2 remelted with the electric arc

The examination of the structure and microhardness of surface layer of C90 non-alloy steel and HS 6-5-2 high speed steel after electric arc treatment are presented in the paper. The comparison has been presented due to the similar content of the carbon in both steels. The structure of the remelted zone of the steel C90 before the conventional tempering consists of the cells, dendritic cells surrounded with the cementite, there is a plate martensite and retained austenite inside them, whereas the structure of the steel HS 6-5-2 is consistuted with cells, dendritic cells and dendrites surrounded with the eutectic system, inside of which there is a plate martensite and retained austenite. Such structure is characterized by the similar microhardness (790-800 HV0,065) and intensity of the tribiological wear. The tempering causes the decrease of the microhardness in non-alloy steel and the increase of the microhardness in high speed steel.
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Analysis of Micro Level Disparities in Urban Facility-Utility Services: A Study on Barasat City, West Bengal, India

Analysis of Micro Level Disparities in Urban Facility-Utility Services: A Study on Barasat City, West Bengal, India

The development of socio-economic infrastructure and urban facility-utility facilities indicate the quality of life of the people of a particular area. The availability of all socio-economic infrastructures is solely not meant for the development until and unless it is adequately available corresponding to the population size and extent of area. Such an adequacy should ensure the accessibility to socio-economic infrastructure by the people. But, unfair political practices, physiographic characteristics and socio-cultural dogma have resulted into the unequal and irrational distribution of infrastructure in the region leading to the emergence of regional disparities. Regional disparity comes into being when any state fails to an extent to meet up with the distribution of developmental fruits equitably to all corners of the region. An unchecked and uncontrolled process of growth leading to the regional disparities may result in economic, social and cultural problems (Hungaragi 2008). The coexistence of developed and underdeveloped regions in a country or state leads to misallocation and underutilization of resources with untapped potential of some areas. Such disparities are not conducive to regional development (Kumar 2009). It is a characteristic phenomenon of developing economy. The poor countries of the world are characterized by large and growing regional disparities while rich countries are generally characterized by small and diminishing gaps in development (Williamson 1965).
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Identification of the Level of Financial Security of an Insurance Company

Identification of the Level of Financial Security of an Insurance Company

T he next group of indicators (indicators of inancial se- curity) describes speciics of insurance companies in comparison with the enterprise of the real economy. Using in the calculations only conventional indicators of inan- cial analysis (liquidity ratios, solvency, business activity, inan- cial stability and company’s efectiveness) is not suicient for holistic assessment of the level of inancial security. To form a complete set of input data for further using it in the assessment of the insurer's inancial security it’s necessary to take into ac- count the peculiarities of the insurers. his prompted for in- cluding in the calculation of indicators of the status of insur-
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Bank Privatization and Market Structure of the Banking Industry: Evidence from a Dynamic Structural Model

Bank Privatization and Market Structure of the Banking Industry: Evidence from a Dynamic Structural Model

a Dynamic Structural Model”. We are indebted to Martin Pesendorfer for his support and guidance during this project. We would like to thank Dimitri Szerman for the help with the data and for insightful comments on several versions of this draft. Robinson Silva helped us to organize the data. We also benefited from discussions with Bernardo Guimarães, Bruno Rocha, Emmanuel Guerre, Fabio Pinna, Francesco Caselli, Francisco Costa, Gabriel Garber, Jason Garred, Joachim Groeger, Johannes Spinnewijn, Maitreesh Ghatak, Matthew Gentry, Michael Dickstein, Panle Jia, Pasquale Schiraldi, Pedro Carvalho, Robert Miller and Tim Besley. Fabio gratefully acknowledges the financial support from CAPES (Brazilian Ministry of Education) and Daniel gratefully acknowledges the support from CNPQ (Brazilian Ministry of Science and Technology). The usual disclaimer applies.
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Distributions of grain parameters on the surface of aircraft engine turbine blades

Distributions of grain parameters on the surface of aircraft engine turbine blades

In polycrystalline blades of aircraft engine turbines, the size and shape of the grain constitutes one of the most significant quality control criteria of the casts made. In industrial practice, the macrostructure of the airfoil and the blade root is evaluated in terms of the presence of equiaxed, columnar and frozen grains. The grain size has a significant influence on the mechanical properties, creep resistance as well as heat- and high-temperature creep resistance of the blades [10-14].
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	Field Cancerisation of the Upper Aerodigestive Tract: Screening for Second Primary Cancers of the Oesophagus in Cancer Survivors

Field Cancerisation of the Upper Aerodigestive Tract: Screening for Second Primary Cancers of the Oesophagus in Cancer Survivors

Tobacco, alcohol, and betel quid are the main causes of squamous cell cancers of the upper aerodigestive tract. These substances can cause multifocal carcinogenesis leading to multiple synchronous or metachronous cancers of the oesophagus, head and neck region, and lungs (‘ield cancerisation’). Globally there are several million people who have survived either head and neck squamous cell cancer (HNSCC) or lung cancer (LC). HNSCC and LC survivors are at increased risk of developing second primary malignancies, including second primary cancers of the oesophagus. The risk of second primary oesophageal squamous cell cancer (OSCC) ranges from 8-30% in HNSCC patients. LC and HNSCC survivors should be ofered endoscopic surveillance of the oesophagus. Lugol chromoendoscopy is the traditional and best evaluated screening method to detect early squamous cell neoplasias of the oesophagus. More recently, narrow band imaging combined with magnifying endoscopy has been established as an alternative screening method in Asia. Low-dose chest computed tomography (CT) is the best evidence- based screening technique to detect (second primary) LC and to reduce LC-related mortality. Low-dose chest CT screening is therefore recommended in OSCC, HNSCC, and LC survivors. In addition, OSCC survivors should undergo periodic pharyngolaryngoscopy for early detection of second primary HNSCC. Secondary prevention aims at quitting smoking, betel quid chewing, and alcohol consumption. As ield cancerisation involves the oesophagus, the bronchi, and the head and neck region, the patients at risk are best surveilled and managed by an interdisciplinary team.
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Analysis of the life insurance market in the Republic of Macedonia

Analysis of the life insurance market in the Republic of Macedonia

Life insurance is of special importance for any country because of the quantity of accumulation of assets and the long-term durability of the insurance (Milošević, 2008; Njegomir, 2011). It is well known that the development of life insurance is inluenced by a certain number of determinants which result in the structure of this kind of insurance. Primarily there are economic-social determinants, such as gross domestic product (GDP), the monetary conditions in the country, and the level of development of social insurance (e.g. Petrović&Petrović, 2003; Milošević, 2008). his is why in this paper, when analyze the development of life insurance in recent history, we look at the inluence of the analysed determinants, as well as the creation of the non-structural model of life insurance development series. here are four active companies in the Republic of Macedonia that are certiied to sell life insurance products (see Figure 1). Croatia Life is the most experienced of the four. It started to provide life insurance services in 2005, and has recorded signiicant progress between then and 2011. According to the value of the declared gross written premium, it holds second place in the life insurance market, right behind GraweLife Austria. hese two companies have more than 90% of the whole life insurance market in the Republic of Macedonia [Insurance Supervision Agency, 2012).
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Modeling of Two-Stage Solidification: Part II Computational Verification of the Model

Modeling of Two-Stage Solidification: Part II Computational Verification of the Model

In the work we assume that the first stage of solidification is the same for both modified and unmodified alloys. Thus, the same dendritic nucleation density is used in both cases. However, we should keep in mind that modifier may affect the dendritic structure formation. In the second stage of the solidification, the nucleation process unfolds in slightly different way, depending on the eutectic transformation mode. In such case nucleation phenomena depends on different densities and different algorithms, as explained in Part I. The authors of the series of papers [3, 6, 7] investigated solidification of modified and unmodified hypoeutectic alloys, and indicated that the difference in nucleation densities for eutectic structure must exists. In [6] McDonald et al. claim that the difference in nucleation density and the size of eutectic grains is “drastic”. It should be noted, that due to the fact that eutectic transformation modes are relatively new area of research, only limited experimental data is available. Keeping this in mind, in our approach we assumed that in the case of modified alloys the nucleation density for eutectic structure is the same as for the dendritic structure. In turn, for the second
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Analytical Determining Of The Steinmetz Equivalent Diagram Elements Of Single-Phase Transformer

Analytical Determining Of The Steinmetz Equivalent Diagram Elements Of Single-Phase Transformer

This model, preached by any teacher of electrical engineering to his students on the various levels, was given like postulate. This article proposes an analytical justification to the equivalent diagram elements of single-phase transformer current, particularly to those of the central branch. The article is organized in three main sections. Section II begins by the calculation of active power consumed in a parallelepiped electromagnetic domain subjected to a variable flow. The result is applied to a shell form single-phase transformer. With open load test, the power consumption linked to the leakage inductance and resistance of the transformer winding is neglected in front of the consumption of the central branch [11]. But it is not the case for a loaded transformer. The methods to determine resistances of the reels are indisputable. This article gives the expressions of the elements of the central branch in the model of Steinmetz starting from the powers and their site. It studies also the variation relation of the iron resistance and the iron reactance compared to the computed values with 220 V. Section 2 is dedicated to this calculation. Discussions and a comparison of results are described in Section 3. The final section is devoted to the article conclusion.
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