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Tytuł:
Distinguishing between paradigmatic semantic relations across word classes : human ratings and distributional similarity
Autorzy:
Schulte im Walde, Sabine
Powiązania:
https://bibliotekanauki.pl/articles/1429743.pdf
Data publikacji:
2020
Wydawca:
Polska Akademia Nauk. Instytut Podstaw Informatyki PAN
Tematy:
semantic relations
human ratings
distributional semantics
automatic classification
Opis:
This article explores the distinction between paradigmatic semantic relations, both from a cognitive and a computational linguistic perspective. Focusing on an existing dataset of German synonyms, antonyms and hypernyms across the word classes of nouns, verbs and adjectives, we assess human ratings and a supervised classification model using window-based and pattern-based distributional vector spaces. Both perspectives suggest differences in relation distinction across word classes, but easy vs. difficult class-relation combinations differ, exhibiting stronger ties between ease and naturalness of class-dependent relations for humans than for computational models. In addition, we demonstrate that distributional information is indeed a difficult starting point for distinguishing between paradigmatic relations but that even a simple classification model is able to manage this task. The fact that the most salient vector spaces and their success vary across word classes and paradigmatic relations suggests that combining feature types for relation distinction is better than applying them in isolation.
Źródło:
Journal of Language Modelling; 2020, 8, 1; 53-101
2299-856X
2299-8470
Pojawia się w:
Journal of Language Modelling
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Rola i rodzaje ratingów ESG na rynku finansowym
Role and types of ESG ratings in the financial market
Autorzy:
Topczewska, Natalia
Powiązania:
https://bibliotekanauki.pl/articles/32040449.pdf
Data publikacji:
2024
Wydawca:
Szkoła Główna Handlowa w Warszawie
Tematy:
rynek finansowy
ratingi ESG
ratingi kredytowe
zrównoważony rozwój
financial market
ESG ratings
credit ratings
sustainable development
Opis:
Celem artykułu jest omówienie roli i rodzajów ratingów ESG na rynku finansowym. Przedstawiono wybrane problemy związane z włączeniem zrównoważonego rozwoju do głównego nurtu zarządzania ryzykiem w branży finansowej. Na potrzeby rozważań podjętych w artykule sformułowano następujące hipotezy badawcze:Hipoteza 1: Zielone obligacje mają coraz większe znaczenie na rynku finansowym zarówno globalnie, jak i w Europie.Hipoteza 2: Inwestorzy korzystają z ratingów ESG, aby potwierdzić informacje na temat działań przedsiębiorstw w zakresach środowiskowym, społecznym i zarządczym.Hipoteza 3: Oceny ESG od wielu dostawców ciężko porównać ze względu na zróżnicowane metodyki.Realizacja celu badawczego wymagała systematycznego przeglądu literatury przedmiotu polskiej i anglojęzycznej przy wykorzystaniu baz danych informacji naukowej (CEJSH, SCOPUS, Web of Science, Connected Papers i arXiv), a także źródeł fachowych w formacie online m.in: Financial Times, Bloomberg, Thomson Reuters. W artykule zostały zastosowane: metoda analizy opisowej oraz porównawczej, a także analiza i wnioskowanie na podstawie danych wtórnych – publikowanych przez Bank Światowy i Międzynarodowe Stowarzyszenie Rynków Kapitałowych. Zidentyfikowano wzrost rynku zrównoważonego długu (obligacji) w zakresie wolumenu wyemitowanych instrumentów tego typu. Wyniki analiz wskazują także na zróżnicowanie metodyk nadawania ratingów ESG. Ponadto odpowiednie zaadresowanie kwestii związanych z ESG może mieć wymierne przełożenie na realną działalność biznesową przedsiębiorstwa.
The purpose of this article is to discuss the role and types of ESG ratings in the financial market. Selected issues related to the integration of sustainability into mainstream risk management in the financial industry are presented. The following research hypotheses were formulated for the consideration undertaken in the article:Hypothesis 1: Green bonds are increasingly important in the financial market both globally and in Europe.Hypothesis 2: Investors use ESG ratings to confirm information on companies’ environmental, social and governance performance.Hypothesis 3: ESG ratings from many providers are difficult to compare due to differing methodologies.Achieving the research objective required a systematic review of the Polish and English-language literature using scientific information databases (CEJSH, SCOPUS, Web of Science, Connected Papers and arXiv), as well as professional sources in online format such as: Financial Times, Bloomberg, Thomson Reuters. The paper uses descriptive and comparative analysis methods, as well as analysis and inference based on secondary data – published by the World Bank and the International Capital Markets Association. The growth of the sustainable debt (bond) market in terms of the volume of issued instruments of this type was identified. The results of the analyses also indicate a diversity of methodologies for assigning ESG ratings. In addition, addressing ESG issues appropriately can have a tangible impact on a company’s real-world business operations.
Źródło:
Kwartalnik Nauk o Przedsiębiorstwie; 2024, 71, 1; 41-56
1896-656X
Pojawia się w:
Kwartalnik Nauk o Przedsiębiorstwie
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Zjawisko inflacji credit ratingów – czy występują różnice w determinantach credit ratingów?
Credit Ratings Inflation Phenomenon – Are There Any Diffrences in the Credit Ratings Determinants?
Autorzy:
Chodnicka-Jaworska, Patrycja
Powiązania:
https://bibliotekanauki.pl/articles/1811427.pdf
Data publikacji:
2016-12-12
Wydawca:
Uniwersytet Warszawski. Wydawnictwo Naukowe Wydziału Zarządzania
Tematy:
credit rating
ryzyko upadłości
ryzyko kredytowe
default risk
credit risk
Opis:
Celem pracy stało się zweryfikowanie różnic w estymacji czynników wpływających na credit rating banków nadawanych tym samym podmiotom przez dwie agencje ratingowe. Dokonano przeglądu literaturowego na temat zjawiska inflacji credit ratingów oraz zakupu not przez emitentów. Postawiono następujące hipotezy badawcze: 1) Credit rating banków nadawany przez dwie agencje ratingowe determinowany jest istotnością statystyczną różnych wskaźników finansowych banków. 2) Im większa agencja ratingowa, tym bardziej optymistyczne oceny. Do badania zebrano dane dotyczące credit ratingów banków oraz wskaźników finansowych dla lat 1998–2015 w ujęciu kwartalnym i porównano wyniki dla poszczególnych grup agencji ratingowych. Próbę podzielono na trzy podpróby, mianowicie na noty nadawane jednocześnie przez S&P i Moody, S&P i Fitch oraz Moody i Fitch. Do badania wykorzystano uogólnione modele panelowe.
The aim of the paper was to verify the differences in the estimation of the factors affecting the banks’ credit ratings given the same issuers by two different rating agencies. The literature about the credit ratings’ inflation phenomenon and the credit ratings shopping has been reviewed. The following hypotheses have been put forward: Banks’ credit ratings assigned by the two rating agencies determined the significance of various financial ratios. The bigger the rating agency, the more optimistic assessment. For the purposes of the study, data have been collected on banks’ credit ratings and their financial indicators for the years 1998–2015 on a quarterly basis and results have been compared for individual groups of credit rating agencies. The sample has been divided into three sub-samples, namely notes broadcast simultaneously by S&P and Moody, S&P and Fitch, and Moody and Fitch. In the study, the ordinary probit panel data models have been used.
Źródło:
Studia i Materiały; 2016, 2/2016 (22), cz.2; 48-59
1733-9758
Pojawia się w:
Studia i Materiały
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Wpływ credit ratingu inwestorów na rating banków europejskich
Impact of investors credit ratings on credit ratings of European banks
Autorzy:
Chodnicka-Jaworska, Patrycja
Powiązania:
https://bibliotekanauki.pl/articles/485266.pdf
Data publikacji:
2017
Wydawca:
Bankowy Fundusz Gwarancyjny
Tematy:
credit rating
uporządkowane panelowe modele logitowe
udziałowcy
ryzyko upadłości
ordered panel logit data models
shareholders
default risk
Opis:
Celem pracy stało się zbadanie wpływu determinant finansowych, w tym wpływu credit ratingu inwestorów, na credit ratingi banków. Dokonano przeglądu literaturowego i na jego podstawie postawiono następującą hipotezę: credit rating banków uzależniony jest od kondycji finansowej ocenianego podmiotu oraz credit ratingu głównych inwestorów. Do zweryfikowania postawionej hipotezy badawczej wykorzystano uporządkowane logitowe modele panelowe. Badanie przeprowadzono na bankach europejskich, które miały nadany rating długoterminowy przez trzy największe agencje, tj. Fitch, Moody i S&P. Do analizy wykorzystano dane kwartalne dla lat 1998–2016. Okazało się, że credit rating banku determinowany jest przede wszystkim wskaźnikami adekwatności kapitałowej i jakości aktywów. Istotny statystycznie wpływ wywiera credit rating kraju, w jakim dany bank funkcjonuje. Credit rating banku determinowany jest obecnością rządu jako jednego z inwestorów (rating Moody ulega obniżce, podczas gdy S&P się poprawia) oraz ratingiem akcjonariuszy.
The aim of the study is to examine the impact of financial determinants, including the impact of the investors credit ratings, on banks credit ratings. Having made a literature review and the following hypothesis has been put: The bank’s credit rating depends on the financial condition of the rated entity and the credit ratings of the major investors. The logit panel data models were used to verify the hypothesis. The study was conducted at European banks, which have received the long-term ratings by the three largest agencies, Fitch, Moody, and S&P. The analysis used the quarterly data for the years 1998–2016. It turned out that the bank’s credit rating was determined by capital adequacy ratios and asset quality. The credit rating of the country, where the bank operates, is significant. The bank’s credit rating is determined by the presence of the government as one of investors (Moody’s rating downgrades while S&P is improving) and shareholder.
Źródło:
Bezpieczny Bank; 2017, 3 (68); 39-58
1429-2939
Pojawia się w:
Bezpieczny Bank
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
The relationship between emotional intelligence and retrospective ratings of parenting attitudes
Autorzy:
Ewa, Łodygowska,
Magdalena, Chęć,
Powiązania:
https://bibliotekanauki.pl/articles/896558.pdf
Data publikacji:
2020-07-09
Wydawca:
Akademia Pedagogiki Specjalnej im. Marii Grzegorzewskiej. Wydawnictwo APS
Opis:
Emotional intelligence can be determined by various factors related to the functioning of the family and the parents, including the parenting attitudes they display. Prior research confirms the relationship between some parenting attitudes and children’s emotional intelligence, though it has chiefly focused on adolescents. The aim of the presented research was to determine whether a relationship between emotional intelligence and parenting attitudes retrospectively evaluated by young adults exists, while taking into consideration the parent’s and the child’s gender, as well as the family characteristics. Two hundred and fifty seven young adults, aged between 20 and 25 years old, who were students of various universities, were tested the Polish version (standardized by Jaworowska and Matczak) of the Emotional Intelligence Questionnaire (INTE) by Schutte, Malouff, Hall, Haggerty, Cooper, Golden, as well as with the Retrospective Evaluation of Parenting Attitudes Questionnaire (KPR-Roc) by Plopa. The study also controlled for demographic factors. A positive relationship was found between the mothers’ attitudes of acceptance/rejection and autonomy and their daughters’ emotional intelligence and ability to utilize emotions in thinking and behavior. No relationship between the mothers’ parenting attitudes and the young women’s ability to recognize emotions was found. A weak relationship between the mothers’ attitude of acceptance and their sons’ emotional intelligence emerged. Participants from conjugal families rated their mothers’ attitudes of acceptance/rejection, demands, and lack of consistency, as well as their fathers’ attitudes of acceptance/rejection, autonomy, and lack of consistency more favorably than did participants from non-conjugal families. The relationship between parenting attitudes and children’s emotional intelligence can be determined by the type of the family of origin.
Źródło:
Psychologia Wychowawcza; 2020, 59(17); 51-64
0033-2860
Pojawia się w:
Psychologia Wychowawcza
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Wpływ ratingów kredytowych państw europejskich na koszt kapitału
Autorzy:
Chodnicka, Patrycja
Powiązania:
https://bibliotekanauki.pl/articles/630042.pdf
Data publikacji:
2015
Wydawca:
Szkoła Główna Handlowa w Warszawie
Tematy:
credit ratings, interest rate, credit risk
Opis:
The purpose of this paper is to analyze the impact of the countries’ credit ratingson the cost of capital through review of the subject literature and panel datamodels for the 35 European countries for the period 2005–2013.
Źródło:
Kwartalnik Kolegium Ekonomiczno-Społecznego Studia i Prace; 2015, 3, 4; 91-102
2082-0976
Pojawia się w:
Kwartalnik Kolegium Ekonomiczno-Społecznego Studia i Prace
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Rating kredytowy emitenta i inwestora – porównanie wpływu determinant
Issuer- and Investor-Paid Credit Ratings – A Comparison of Factors
Autorzy:
Chodnicka-Jaworska, Patrycja
Powiązania:
https://bibliotekanauki.pl/articles/525431.pdf
Data publikacji:
2017-05-30
Wydawca:
Uniwersytet Warszawski. Wydawnictwo Naukowe Wydziału Zarządzania
Tematy:
agencja ratingowa
rating nadawany na żądanie emitenta
rating nadawany na żądanie inwestora
credit rating agency
issuer-paid credit ratings investor-paid credit ratings
Opis:
Celem pracy jest analiza determinant ratingu kredytowego banków krajów europejskich. Dokonano przeglądu literaturowego na temat wpływu czynników na rating kredytowy i postawiono hipotezę, że siła oddziaływania poszczególnych determinant na credit rating banku jest uzależniona od tego, czy został on nadany na żądanie emitenta czy inwestora. Do analizy wykorzystano dane z bazy Thomson Reuters. Badanie przeprowadzono przy użyciu metod regresji panelowej. Jako zmienną zależną zastosowano długoterminowe ratingi kredytowe banków prezentowane przez agencje ratingowe w latach 2000–2015. Ratingi zdekodowano liniowo na zmienne liczbowe. Badanie wykonano na danych kwartalnych.
The aim of the paper is to analyse European banks’ credit ratings factors. To this end, a literature review has been made about the impact of credit ratings factors and the following hypothesis has been put forward: The strength of the banks’ credit ratings factors depends on the issuer- and investor-paid notes. Thomson Reuters database has been used for the analysis. The analysis has been made by using panel data models. As a dependent variable, long-term credit ratings presented by credit rating agencies from 2000 to 2015 have been used. Credit ratings have been decomposed linearly. The study has been made using quarterly data.
Źródło:
Problemy Zarządzania; 2017, 1/2017 (66), t.2; 64 - 78
1644-9584
Pojawia się w:
Problemy Zarządzania
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
The relationship between emotional intelligence and retrospective ratings of parenting attitudes
Autorzy:
Ewa, Łodygowska,
Magdalena, Chęć,
Powiązania:
https://bibliotekanauki.pl/articles/896588.pdf
Data publikacji:
2020-01-23
Wydawca:
Akademia Pedagogiki Specjalnej im. Marii Grzegorzewskiej. Wydawnictwo APS
Tematy:
emotional intelligence
parenting attitudes.
Opis:
Introduction: Emotional intelligence can be determined by various factors related to the functioning of the family and the parents, including the parenting attitudes they display. Prior research confirms the relationship between some parenting attitudes and children’s emotional intelligence, though it has chiefly focused on adolescents. The aim of the presented research was to determine whether a relationship between emotional intelligence and parenting attitudes retrospectively evaluated by young adults exists, while taking into consideration the parent’s and the child’s gender, as well as the family characteristics. Method: Two hundred and fifty seven young adults, aged 20–25, students of various universities, were tested with the Emotional Intelligence Questionnaire (INTE) by Schutte, Malouff, Hall, Haggerty, Cooper, Golden, and Dornheim, adapted into Polish and standardized by Jaworowska and Matczak, as well as with the Retrospective Evaluation of Parenting Attitudes Questionnaire (KPR-Roc) by Plopa. The study also controlled for de-mographic factors. Results: A positive relationship exists between the mothers’ attitudes of acceptance/ rejection and autonomy and their daughters’ emotional intelligence and ability to utilize emotions in thinking and behavior. No relationship between the mothers’ parenting attitudes and the young women’s ability to recognize emotions was found. A weak relationship between the mothers’ attitude of acceptance and their sons’ emotional intelligence exists. Participants from conjugal families rated their mothers’ attitudes of acceptance/rejection, demands, and lack of consistency, as well as their fathers’ attitudes of acceptance/ rejection, autonomy, and lack of consistency more favorably than did participants from non-conjugal families. The relationship between parenting attitudes and children’s emotional intelligence can be determined by the type of the family of origin.
Źródło:
Psychologia Wychowawcza; 2019, Supplement; 126-139
0033-2860
Pojawia się w:
Psychologia Wychowawcza
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
MACROECONOMIC ASPECTS OF BANKS’ CREDIT RATINGS
Autorzy:
Chodnicka-Jaworska, Patrycja
Powiązania:
https://bibliotekanauki.pl/articles/517134.pdf
Data publikacji:
2017
Wydawca:
Instytut Badań Gospodarczych
Tematy:
country credit rating
bank credit rating
country risk
macroeconomic determinants
Opis:
Research background: The practical analysis suggests that credit ratings are especially significant for banks. The literature review suggests that in previous analysis researchers usually took into consideration financial factors of the banks’ credit ratings methodology. This article analyses the impact of macroeconomic factors on the banks’ credit ratings. Purpose of the article: The paper examines and analyses the impact of the macroeconomic risk factors on the credit ratings received by banks. In the article, the methodology of credit risk assessment proposed by Moody’s Investor Service and Standard & Poor’s Financial Service is presented. Two hypotheses are put herein. The first one is: Changes in countries’ credit ratings convey new information and influence on banks’ financial condition. The second hypothesis is: A highly-developed, stable economy with an advanced financial market has a positive influence on banks’ credit rating assessment. Methods: The study used banks’ and countries’ ratings assigned by Standard & Poor's and Moody's for the period from 1 January 2005 to 1 January 2016. To verify the hypotheses static panel data models have been applied. Findings & Value added: In credit rating agencies guidelines and previous research, the impact of countries’ credit ratings on those received by banks is not indicated. The impact of macroeconomic factors has not been verified. The analysis confirms that changes in countries’ credit ratings convey new information and influence the banks’ environment condition. But only for the assessment given by S&P the condition of banking sector is an important group of factors. For all verified types of credit ratings the risk of country is presented by countries’ credit rating, not by particular factors. These analyses suggest that during the risk estimation process prepared by banks, a country’s risk represented by its credit ratings should be taken into consideration more often than particular macroeconomic factors.
Źródło:
Equilibrium. Quarterly Journal of Economics and Economic Policy; 2017, 12, 1; 101-120
1689-765X
2353-3293
Pojawia się w:
Equilibrium. Quarterly Journal of Economics and Economic Policy
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Role of e-WOM in hospitality market pricing
Autorzy:
Kościółek, Szczepan
Powiązania:
https://bibliotekanauki.pl/articles/522098.pdf
Data publikacji:
2017
Wydawca:
Uniwersytet Ekonomiczny w Katowicach
Tematy:
Consumer ratings
e-WOM
Hospitality market
Online reviews
Pricing
Opis:
Aim/purpose – Online assessments are one of the main factors determining a customer’s choice of accommodation. This article examines their relationship to prices in the low and high season in Cracow’s hospitality market. The question of which attributes in hotel ratings explain the change in price levels was investigated. Design/methodology/approach – The inference was based on ratings and hotel room offers published on the Booking.com platform. Data were collected and estimated for the representative number of 97 hotels in Cracow. Regression analysis was then used to estimate the model. Findings – The results of the analysis showed that price levels for the high and low seasons are correlated with ratings for comfort and location. It is more precise to use these variables as an explanation for prices in the high season. Guests’ perceptions of comfort and location are combined with other hotel features. Research implications/limitations – The study showed which of the hotel parameters should be enhanced when rationally increasing price levels. The limitations of the study are that it covered only one Polish city, collected data from a single website, and omitted other variables to explain the prices of hotel rooms. Originality/value/contribution – This is one of the first papers to examine the correlation between electronic consumer ratings and price levels in the Polish hospitality market and one of few investigations based on the role of e-WOM for the pricing of all objects in the sector, not just for a specific category of hotels.
Źródło:
Journal of Economics and Management; 2017, 29; 58-74
1732-1948
Pojawia się w:
Journal of Economics and Management
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
The issuer and investor credit ratings – the impact on the stock prices
Autorzy:
Chodnicka-Jaworska, Patrycja
Powiązania:
https://bibliotekanauki.pl/articles/583205.pdf
Data publikacji:
2018
Wydawca:
Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Tematy:
credit rating
issuer
investor
stock prices
event study
Opis:
The basic goal of the article is to analyse the impact of credit rating changes on the rates of return on banks’ shares, considering the entity that asked for assigning a credit rating. The following hypotheses are proposed: banks’ share prices react stronger to the investor-paid credit rating changes. the strongest impact of the banks’ credit rating changes is observed for a downgrade, for both the issuer and the investor credit ratings, while a stronger significant reaction is observed after the moment of publication. The analysis was prepared on the Thomson Reuters Database. The analysis was carried out on data from the years 1980 to 2015, for banks from the European countries, by using event study methods.
Źródło:
Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu; 2018, 519; 40-52
1899-3192
Pojawia się w:
Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
A comparative study of corporate credit ratings prediction with machine learning
Autorzy:
Doğan, Seyyide
Büyükkör, Yasin
Atan, Murat
Powiązania:
https://bibliotekanauki.pl/articles/2175830.pdf
Data publikacji:
2022
Wydawca:
Politechnika Wrocławska. Oficyna Wydawnicza Politechniki Wrocławskiej
Tematy:
credit rating
credit risk
machine learning
Opis:
Credit scores are critical for financial sector investors and government officials, so it is important to develop reliable, transparent and appropriate tools for obtaining ratings. This study aims to predict company credit scores with machine learning and modern statistical methods, both in sectoral and aggregated data. Analyses are made on 1881 companies operating in three different sectors that applied for loans from Turkey’s largest public bank. The results of the experiment are compared in terms of classification accuracy, sensitivity, specificity, precision and Mathews correlation coefficient. When the credit ratings are estimated on a sectoral basis, it is observed that the classification rate considerably changes. Considering the analysis results, it is seen that logistic regression analysis, support vector machines, random forest and XGBoost have better performance than decision tree and k-nearest neighbour for all data sets.
Źródło:
Operations Research and Decisions; 2022, 32, 1; 25--47
2081-8858
2391-6060
Pojawia się w:
Operations Research and Decisions
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Sovereign credit ratings and CDS spreads in Emerging Europe
Autorzy:
Dopierała, Łukasz
Ilczuk, Daria
Wojciechowski, Liwiusz
Powiązania:
https://bibliotekanauki.pl/articles/22444414.pdf
Data publikacji:
2020
Wydawca:
Instytut Badań Gospodarczych
Tematy:
credit rating agencies
Emerging Europe
CDS
event study
Opis:
Research background: Sovereign credit ratings play an important role in determining any country?s access to the international debt market. During the global financial crisis and the European debt crisis, credit rating agencies were harshly criticized for the timing of their announcements regarding ratings downgrades and the ranges of those downgrades. Therefore, it is worth considering whether the sovereign credit rating is still a useful benchmark for investors. Purpose of the article: This article examines whether credit rating agencies still provide financial markets with new information about the solvency of governments in Emerging Europe countries. In addition, it describes the differences in the effect of particular types of rating events on financial markets and the impact of individual agencies on the market situation. Our study also focuses on evaluating these occurrences at different stages of the business cycle. Methods: This article uses data about ratings events that took place between 2008 and 2018 in 17 Emerging Europe economies. We took into consideration positive, neutral, and negative events related to ratings changes and the outlooks reported by Fitch Ratings, Moody?s, and Standard & Poor?s. We used a methodology based on event studies. In addition, we performed Wilcoxon signed-ranks test and used a logit model to determine the usefulness of cumulative adjusted credit default swap (CDS) spread changes in predicting the direction of ratings changes. Findings & Value added: Our research provides evidence that the CDS market reflects information regarding government issuers up to three months before ratings downgrades are announced. Information reported to the market by ratings agencies is only relevant in the short timeframe surrounding ratings downgrades and upgrades. However, positive credit rating changes convey more information to the market. We also found strong evidence that, in the post-crisis period, credit ratings provide markets with less information.
Źródło:
Equilibrium. Quarterly Journal of Economics and Economic Policy; 2020, 15, 3; 419-438
1689-765X
2353-3293
Pojawia się w:
Equilibrium. Quarterly Journal of Economics and Economic Policy
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Ratings of Affective and Non-Affective Aspects of German Idioms in Second Language Processing
Autorzy:
Petrič, Teodor
Powiązania:
https://bibliotekanauki.pl/articles/783242.pdf
Data publikacji:
2019
Wydawca:
Wydawnictwo Uniwersytetu Śląskiego
Tematy:
SLA
idioms
affective properties
psycholinguistic properties
German
Slovene
Opis:
AbstractIn this paper psycholinguistic and emotional properties of 619 German idiomatic expressions are explored. The list of idiomatic expressions has been adapted from Citron et al. (2015), who have used it with German native speakers. In our study the same idioms were evaluated by Slovene learners of German as a foreign language. Our participants rated each idiom for emotional valence, emotional arousal, familiarity, concreteness, ambiguity (literality), semantic transparency and figurativeness. They also had the task to describe the meaning of the German idioms and to rate their confidence about the attributed meaning. The aims of our study were (1) to provide descriptive norms for psycholinguistic and affective properties of a large set of idioms in German as a second language, (2) to explore the relationships between psycholinguistic and affective properties of idioms in German as a second language, and (3) to compare the ratings of the German native speakers studied in Citron et al. (2015) with the ratings of the Slovene second language learners from our study. On one hand, the results of the Slovene participants show many similarities with those of of the German native speakers, on the other hand, they show a slight positivity bias and slightly shallower emotional processing of the German idioms. Our study provides data that could be useful for future studies investigating the role of affect in figurative language in a second language setting (methodology, translation science, language technology).
Źródło:
Theory and Practice of Second Language Acquisition; 2019, 5, 1; 11-42
2450-5455
2451-2125
Pojawia się w:
Theory and Practice of Second Language Acquisition
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Competitiveness and concentration of the banking sector as a measure of banks’ credit ratings
Autorzy:
Chodnicka-Jaworska, Patrycja
Powiązania:
https://bibliotekanauki.pl/articles/580735.pdf
Data publikacji:
2018
Wydawca:
Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Tematy:
credit rating
panel data models
concentration
competitiveness
Opis:
The aim of the paper is to verify the impact of the competitiveness of the banking sector and concentration on banks’ credit ratings. A literature review was carried out and as a result the following hypothesis was put forward: the bigger the banks from the countries where the banking sector is more concentrated and more competitive, the higher the banks’ credit ratings. The analysis was conducted using ordered panel data models on banks’ credit ratings with the use of quarterly data on a European banks’ sample. Long-term issuer credit ratings given to banks by the three largest credit rating agencies were used as a dependent variable.
Źródło:
Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu; 2018, 519; 26-39
1899-3192
Pojawia się w:
Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Forma własności banku a credit rating
Banks ownership and credit ratings
Autorzy:
Chodnicka-Jaworska, Patrycja
Powiązania:
https://bibliotekanauki.pl/articles/485264.pdf
Data publikacji:
2017
Wydawca:
Bankowy Fundusz Gwarancyjny
Tematy:
credit rating
bank komercyjny
bank państwowy
commercial banks
public banks
Opis:
Celem artykułu jest analiza determinant długoterminowych ratingów kredytowych europejskich banków komercyjnych według kryterium własności. Na podstawie badań literaturowych postawiono hipotezę: biorąc pod uwagę uwarunkowania finansowe banki publiczne otrzymują wyższe ratingi kredytowe niż prywatne instytucje. Do badania wykorzystano uogólnione panelowe modele logitowe. Badanie wpływu formy własności na credit rating banku wykazało, że postawiona hipoteza nie może być jednoznacznie zweryfikowana. Banki publiczne otrzymują wyższe ratingi niż prywatne instytucje, biorąc pod uwagę uwarunkowania finansowe, tylko w przypadku not nadanych przez S&P. Fitch i Moody natomiast obniżały ratingi bankom, których inwestorem był Skarb Państwa. Mogło to być wynikiem dokapitalizowywania instytucji finansowych przez państwo dla uchronienia ich przed ryzykiem upadłości, ale taka interpretacja wymaga pogłębionych badań.
The aim of the paper is the analysis of determinants of long-term credit ratings of European commercial banks according to ownership criteria. On the basis of the literature review the following hypothesis has been expressed: taking into account the financial condition the public banks receive higher credit ratings than private institutions. The ordinary logit panel data models have been used for the study. Examination of the impact of ownership on the bank’s credit rating showed that the put hypothesis cannot be uniquely verified. Public banks receive higher ratings than private institutions taking into account financial conditions, only for S & P notices. Whereas Fitch and Moody lowered their ratings to banks whose investor was the Treasury. This could have been the result of a recapitalization of financial institutions by the state to protect them against the risk of bankruptcy, however such an interpretation requires in-depth research.
Źródło:
Bezpieczny Bank; 2017, 2 (67); 52-74
1429-2939
Pojawia się w:
Bezpieczny Bank
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Building condition ratings using infrared thermography: a preliminary study
Autorzy:
Anuar, Muhd Zubair Tajol
Sarbini, Noor Nabilah
Ibrahim, Izni Syahrizal
Othman, Siti Hajar
Reba, Mohd Nadzri
Powiązania:
https://bibliotekanauki.pl/articles/2174079.pdf
Data publikacji:
2022
Wydawca:
Polska Akademia Nauk. Czytelnia Czasopism PAN
Opis:
Deterioration and defects in building components are key aspects to consider when assessing buildings’ conditions, as they may influence the building’s functionality. The typical defects include cracking, moisture, dampness, and architectural defects. This paper aims to evaluate the defects in a building using a non-destructive testing (NDT), which is the Infrared Thermography (IRT) method. A visual inspection method is then conducted to verify the results of the IRT method. The combination of IRT and visual inspection methods can identify the type of defect and level of severity more accurately. In both methods, ratings or scores are given to the collected defect data to determine the consistency between them. Two (2) buildings were selected as case studies; AA1 and BB2 are multistorey buildings. From those, 51 and 67 spots were taken from the IRT method and further verification process, respectively. Among the defects that were found were moisture, dampness, cracking, staining, chipping, and flaking paint. From all the findings, IRT was found to be comparable with the visual inspection results for serious defects such as cracking and flaking paint. However, IRT was believed to underestimate the architectural defects of staining and chipping. Even so, serious defects such as dampness were also underestimated in IRT due to the fact that the temperature difference between different ratings will not differ much. In conclusion, the IRT method has the potential to be used as a tool for building condition rating. However, it should be assisted with a visual inspection, and more research needs to be conducted for its practicality.
Źródło:
Archives of Civil Engineering; 2022, 68, 4; 403--418
1230-2945
Pojawia się w:
Archives of Civil Engineering
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Oczekiwanie zmiany nastawienia credit ratings banków a kursy akcji przy uwzględnieniu poziomu rozwoju gospodarczego kraju
Autorzy:
Chodnicka-Jaworska, Patrycja
Powiązania:
https://bibliotekanauki.pl/articles/630261.pdf
Data publikacji:
2017
Wydawca:
Szkoła Główna Handlowa w Warszawie
Tematy:
Credit risk, Credit rating, Shares prices, Banks
Opis:
The aim of the paper is verification of the following hypothesis the share prices of banks have stronger reaction to bank credit rating announcements changes for a downgrade, both in developed and developing economies. The analysis(event study method) has been based on data from Thomson Reuters for the years 1980-2015 for 24 countries. Outlooks and watch lists proposed by all credit rating agencies have been used as an independent variable. Daily differences between the logarithmized rates of return of banks' shares have been used as dependent variable.
Źródło:
Kwartalnik Kolegium Ekonomiczno-Społecznego Studia i Prace; 2017, 1; 105-120
2082-0976
Pojawia się w:
Kwartalnik Kolegium Ekonomiczno-Społecznego Studia i Prace
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Transients impact on power filter circuit sizing
Autorzy:
Warecki, J.
Gajdzica, M.
Powiązania:
https://bibliotekanauki.pl/articles/97523.pdf
Data publikacji:
2015
Wydawca:
Politechnika Poznańska. Wydawnictwo Politechniki Poznańskiej
Tematy:
capacitor
reactor
harmonic filter
transient and dynamic overvoltage
transient and dynamic overcurrent
equipment ratings
Opis:
The practice of operating multiple single-tuned filters in AC electrical arc furnace power supply systems has shown, that frequent energizing unloaded furnace transformer can cause damage of the filters. To examination of supply and filter system configuration impact on switching transient and dynamic overvoltages and overcurrents, an example of 50 MVA arc furnace unit was chosen. The transient analysis has been carried out by simulating within Matlab/Simulink Software. Using ANSI/IEEE Standards paper focuses on the selections of ratings for capacitors and air-core reactors used in multiple single-tuned harmonic filters configurations. Comparison of filter reactor and capacitor bank design based on steady state operation and transformer energizing was shown.
Źródło:
Computer Applications in Electrical Engineering; 2015, 13; 111-119
1508-4248
Pojawia się w:
Computer Applications in Electrical Engineering
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
CAMEL – ocena ryzyka w estymacji ratingów banków europejskich
CAMEL – estimation method European banks’ credit ratings
Autorzy:
Chodnicka-Jaworska, Patrycja
Powiązania:
https://bibliotekanauki.pl/articles/585611.pdf
Data publikacji:
2017
Wydawca:
Uniwersytet Ekonomiczny w Katowicach
Tematy:
CAMEL
Credit rating
Ryzyko kredytowe
Credit risk
Opis:
Celem artykułu jest analiza istotności wpływu determinant CAMEL w procesie nadawania noty ratingowej bankom. W związku z tym dokonano przeglądu literatury i na tej podstawie postawiono następującą hipotezę badawczą: czynniki CAMEL wpływają w sposób istotny statystycznie na credit rating banków europejskich. Do badania wykorzystano długoterminowe noty ratingowe nadawane bankom europejskim na koniec kwartału przez trzy największe agencje ratingowe. Jako zmienne niezależne zastosowano wskaźniki finansowe oraz zmienne makroekonomiczne zgromadzone z baz Thomson Reuters oraz Banku Światowego. W badaniu zastosowano modele panelowe.
The goal of the article is to analyse the statistically significance of the impact of CAMEL factors on the banks’ credit ratings method. As a result it has been made a literature review and put hypothesis seems as follows: CAMEL factors influence statistically significantly on European banks’ credit ratings. In the research, there have been used the long term issuer credit ratings given European banks at the end of the quarterly by the biggest three credit rating agencies. As independent variables, there have been taken financial indicators and macroeconomic variables collected from the Thomson Reuters and World Bank databases. In the research, there have been proposed panel data models.
Źródło:
Studia Ekonomiczne; 2017, 339; 7-16
2083-8611
Pojawia się w:
Studia Ekonomiczne
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Agregacja ocen decydentów dla systemu predykcji czasów realizacji procesów budowlanych
Aggregation of decision maker ratings for a construction processes durations prediction system
Autorzy:
Tomczak, Michał
Polat, Gül
Powiązania:
https://bibliotekanauki.pl/articles/27323950.pdf
Data publikacji:
2023
Wydawca:
PWB MEDIA Zdziebłowski
Opis:
Jednym z najistotniejszych i najbardziej wymagających zagadnień występujących w ramach inżynierii przedsięwzięć budowlanych jest problem opóźnień w realizacji przedsięwzięć budowalnych. Znaczna liczba czynników ryzyka niezbędnych do uwzględnienia oraz stopień skomplikowania opisu ich wpływu na poszczególne procesy przedsięwzięcia budowlanego sprawiają, że zagadnienie predykcji czasów realizacji procesów i przedsięwzięć budowlanych jest zagadnieniem trudnym. W odpowiedzi na dostrzeżony problem opracowano metodę agregacji ocen decydentów za pomocą rozmytej obwiedni typu 2 rozszerzonego wahającego się rozmytego zbioru terminów lingwistycznych służącą predykcji czasów realizacji procesów budowlanych. W proponowanym podejściu decydenci mogą wyrażać swoje oceny poprzez porównywanie parami, tak jak ma to miejsce w powszechnie akceptowanej metodzie AHP. Decydenci mogą wyrażać swoje preferencje tak swobodnie, jak to możliwe, za pomocą wyrażeń językowych zamiast wartości liczbowych, co jest bliższe ludzkiej kognitywistce i naturze. Decydenci nie muszą ograniczać się do wyrażania preferencji za pomocą pojedynczych słów, mogą używać całych wyrażeń dostarczonych przez zdefiniowaną gramatykę. W celu zobrazowania funkcjonowania metody wykonano predykcję czasów realizacji przykładowego przedsięwzięcia budowlanego z wykorzystaniem opracowanej metody.
One of the most important and challenging issues occurring in construction project engineering is the problem of delays in the execution of construction projects. The significant number of risk factors necessary to take into account and the complexity of describing their impact on the various processes of a construction project make the issue of predicting the execution times of construction processes and projects a difficult one. In response to the perceived problem, a method of aggregating decision makers' assessments using a fuzzy envelope type-2 extended hesitant fuzzy set of linguistic terms was developed for predicting the execution times of construction processes. In the proposed approach, decision makers can express their evaluations through pairwise comparisons, as in the widely accepted AHP method. Decision makers can express their preferences as freely as possible using linguistic expressions instead of numerical values, which is closer to human cognition and nature. Decision makers do not have to limit themselves to expressing preferences with single words, they can use whole expressions provided by a defined grammar. In order to illustrate how the method works, a prediction of the execution times of an example construction project was made using the developed method.
Źródło:
Builder; 2023, 27, 12; 95--99
1896-0642
Pojawia się w:
Builder
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Ewaluacja projektów i abstraktów – wpływ indywidualnego stylu ewaluacji na oceny
Evaluation of grant proposals and abstracts – the influence of individual evaluation style on ratings
Autorzy:
Król, Grzegorz
Katarzyna Kinga, Kowalczyk
Powiązania:
https://bibliotekanauki.pl/articles/526235.pdf
Data publikacji:
2014-01-30
Wydawca:
Uniwersytet Warszawski. Wydawnictwo Naukowe Wydziału Zarządzania
Tematy:
ewaluacja
utajone wzorce
recenzje
efekt łagodności
różnicowanie ocen
evaluation
implicit standards
reviews
leniency terror
ratings differentiation
Opis:
W artykule przedstawiamy zarys psychologicznego modelu ewaluacji oraz wynik analizy ocen 673 abstraktów zgłoszonych na międzynarodową konferencję i 323 projektów badawczych. W obu przypadkach jeden ewaluator (recenzent) dokonywał oceny wielu projektów lub abstraktów, co pozwoliło na wykazanie wpływu indywidualnych stylów ewaluacji (dla 18 ewaluatorów projektów badawczych i 33 recenzentów abstraktów), operacjonalizowanych przez poziom łagodności/surowości i stopień różnicowania ocen. Pokazano także związek kolejności oceniania z surowością ocen (pierwsze 15 abstraktów ocenianych było surowiej niż reszta), co zinterpretowano za pomocą dwóch alternatywnych wyjaśnień: stabilizacji utajonego wzorca porównawczego oraz zmęczenia.
In this article we present an outline of psychological model of evaluation and results of ratings analysis for 673 abstracts submitted to international conference and 323 grant proposals. In both cases one evaluator (reviewer) evaluated many proposals or abstracts, which allowed us to demonstrate individual evaluation style (for 18 grant proposals evaluators and 33 abstract reviewers), operationalized by leniency/severity level and degree of ratings differentiation. We showed as well relation between rank order and severity rating (first 15 abstracts were rated more severely than others). It is suggested that this relation can be explained by two alternative explanations: stabilization of implicit comparative standard and fatigue.
Źródło:
Problemy Zarządzania; 2014, 1/2014 (45); 137-155
1644-9584
Pojawia się w:
Problemy Zarządzania
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
What affects web credibility perception? An analysis of textual justifications
Autorzy:
Kąkol, M.
Nielek, R.
Powiązania:
https://bibliotekanauki.pl/articles/305539.pdf
Data publikacji:
2015
Wydawca:
Akademia Górniczo-Hutnicza im. Stanisława Staszica w Krakowie. Wydawnictwo AGH
Tematy:
credibility
world wide web
credibility ratings
reliability
credibility assessment heuristis
credibility evaluation factors
Opis:
In this paper, we present the findings of a qualitative analysis of 15,750 comments left by 2,041 participants in a Reconcile web credibility evaluation study. While assessing the credibility of the presented pages, respondents of the Reconcile studies were also asked to justify their ratings in writing. This work attempts to give an insight into the factors that affected the credibility assessment. To the best of our knowledge, the presented study is the most-recent large-scale study of its kind carried out since 2003, when the Fogg et al. śHow do users evaluate the credibility of Web sites? A study with over 2,500 participants’ paper was published. The performed analysis shows that the findings made a decade ago are still mostly valid today despite the passage of time and the advancement of Internet technologies. However we report a weaker impact of webpage appearance. A much bigger dataset (as compared to Fogg’s studies) allowed respondents to reveal additional features, which influenced the credibility evaluations.
Źródło:
Computer Science; 2015, 16 (3); 295-310
1508-2806
2300-7036
Pojawia się w:
Computer Science
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Effect of Ergonomic Design Changes in Hand Tools on Physiological Cost and Subjective Ratings
Autorzy:
Kim, B. B. J.
Powiązania:
https://bibliotekanauki.pl/articles/90669.pdf
Data publikacji:
2012
Wydawca:
Centralny Instytut Ochrony Pracy
Tematy:
ergonomic design
hand tools
electromyographic activity
subjective assessments
Cronbach’s α
Opis:
Users of hand tools expect that tools after ergonomic changes in design will require less muscular activity and cause fewer musculoskeletal disorders than conventional tools. Reports on evaluation of ergonomic design changes in hand tools are controversial. In this study, we measured the effect of changes in tool design with physiological cost of performance and subjective ratings in a simulated setting. We determined physiological cost of performance by measuring muscle activity of the right and left forearm (flexor carpi ulnaris) with electromyography. We collected a questionnaire with subjective ratings before and after each experimental task. Before the tests, ergonomically reconfigured hacksaws received better rating scores than original hacksaws. However, we found no differences in subjective ratings of the hacksaws after the tests. In addition, electromyographic activity did not show any significant differences between the original and modified tools.
Źródło:
International Journal of Occupational Safety and Ergonomics; 2012, 18, 2; 267-277
1080-3548
Pojawia się w:
International Journal of Occupational Safety and Ergonomics
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Impact of the Credit Rating Agencies on the Financial Crisis 2007–2009
Autorzy:
Marciniak, Piotr
Powiązania:
https://bibliotekanauki.pl/articles/652843.pdf
Data publikacji:
2015-12
Wydawca:
Uniwersytet Łódzki. Wydawnictwo Uniwersytetu Łódzkiego
Tematy:
financial crisis 2008
credit rating agencies
market ratings
speculative bubble
business ethics
G24
N20
Opis:
The paper presents some ethical aspects of the credit rating agencies (CRAs) market in the light of the latest economic crisis of 2008. A historical background is also shown and how the CRA market emerged. It is emphasised how the functioning of CRAs contributed to the outbreak of the crisis and what were the consequences of over- or underestimated rating grades. The downgrading of a country has a significant influence on the deterioration of the economic condition. Simultaneously, it afflicts the citizens, who have to pay for it e.g. with higher tax rates. It is believed that overestimated ratings lead to a speculative bubble, which ends up with the crisis. The paper indicates the problems connected with the way that CRAs operate and how they relate to business ethics. The fact that those institutions are profitprofile entities, which earn their income from clients, whose financial instruments are assessed, may bring about a conflict of interests. Moreover, it is outlined how the governmental policies of countries left CRAs without any particular control, which in the end was a significant factor, too. Finally, some potential solutions are discussed, and how the approach of CRA managers should change in order to prevent the market from similar situations in the future.
Źródło:
Annales. Etyka w Życiu Gospodarczym; 2015, 18, 4
1899-2226
2353-4869
Pojawia się w:
Annales. Etyka w Życiu Gospodarczym
Dostawca treści:
Biblioteka Nauki
Artykuł
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