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Loans

Distribution by Scientific Domains
Business, Economics, Finance and Accounting68%
Humanities and Social Sciences20%
Medical Sciences3%
6 Other Domains9%
Distribution within Business, Economics, Finance and Accounting
General & Introductory Economics23%
General & Introductory Finance & Investments13%
Financial Economics10%
Public Economics7%
Econometrics4%
Institutional & Corporate Finance2%
16 Other Subdomains41%

Kinds of Loans

  • bank loan
    		•
  • consumer loan
    		•
  • mortgage loan
    		•

    Terms modified by Loans

  • loan contract
  • loan demand
    		•
  • loan market
  • loan officer
    		•
  • loan rate

    • Selected Abstracts

    The Treatment of Melasma with Fractional Photothermolysis: A Pilot Study

    DERMATOLOGIC SURGERY, Issue 12 2005
    Cameron K. Rokhsar MD
    Background. Melasma is a common pigmentary disorder that remains resistant to available therapies. Facial resurfacing with the pulsed CO2 laser has been reported successful but requires significant downtime, and there is a risk of adverse sequelae. Objective. To determine if melasma will respond to a new treatment paradigm, fractional resurfacing. Methods. Ten female patients (Fitzpatrick skin types III,V) who were unresponsive to previous treatment were treated at 1- to 2-week intervals with the Fraxel laser (Reliant Technologies, Palo Alto, CA, USA). Wavelengths of 1,535 and 1,550 nm were both used, and 6 to 12 mJ per microthermal zone with 2,000 to 3,500 mtz/cm2 were the treatment parameters. Four to six treatment sessions were performed. Responses were evaluated according to the percentage of lightening of original pigmentation. Two physicians evaluated the photographs, and each patient evaluated her own response. Results. The physician evaluation was that 60% of patients achieved 75 to 100% clearing and 30% had less than 25% improvement. The patients' evaluations agreed, except for one patient, who graded herself as 50 to 75% improved as opposed to the physician grading of over 75%. There was one patient with postinflammatory hyperpigmentation and no patient with hypopigmentation. No downtime was necessary for wound healing. Conclusions. Fractional resurfacing affords a new treatment algorithm for the treatment of melasma that combines decreased risk and downtime with significant efficacy. This treatment modality deserves further exploration to maximize benefits. RELIANT technologies LOANED THE FRAXEL LASER FOR THE STUDY. RICHARD E. FITZPATRICK, MD, IS A PAID CONSULTANT FOR RELIANT AND A STOCKHOLDER. [source]

    THE PROCYCLICAL LEVERAGE EFFECT OF COLLATERAL VALUE ON BANK LOANS,EVIDENCE FROM THE TRANSACTION DATA OF TAIWAN

    ECONOMIC INQUIRY, Issue 2 2007
    NAN-KUANG CHEN
    We investigated the empirical relationship between firms' collateral values and land-secured loans over asset price cycles. A simultaneous equation model of loan demand and supply was estimated using a transaction-level data set from Taiwan. The data set contains collateral information and identifies lenders and borrowers. We found that the value of collateralizable assets has positive and significant effects on loan amounts and that the leverage effect of collateral is procyclical to asset price cycles. Firms in the electronics industry, the star industry in the sample period, are found to borrow more than other firms do at each marginal dollar of collateral. (JEL C50, E30, G20) [source]

    CREDIT CONSTRAINTS IN THE MARKET FOR CONSUMER DURABLES: EVIDENCE FROM MICRO DATA ON CAR LOANS,

    INTERNATIONAL ECONOMIC REVIEW, Issue 2 2008
    Orazio P. Attanasio
    We investigate the significance of borrowing constraints in the market for consumer loans. Using data from the Consumer Expenditure Survey on auto loan contracts we estimate the elasticities of loan demand with respect to interest rate and maturity. We find that, with the exception of high income households, consumers are very responsive to maturity and less responsive to interest rate changes. Both elasticities vary with household income, with the maturity elasticity decreasing and the interest rate elasticity increasing with income. We argue that these results are consistent with the presence of binding credit constraints in the auto loan market. [source]

    PLACE-BASED AND RACE-BASED EXCLUSION FROM MORTGAGE LOANS: EVIDENCE FROM THREE CITIES IN THE NETHERLANDS

    JOURNAL OF URBAN AFFAIRS, Issue 1 2007
    MANUEL B. AALBERS
    ABSTRACT:,Do place and race matter in mortgage loan applications? This article presents evidence from mortgage markets in the Dutch cities of Arnhem, The Hague, and Rotterdam, suggesting that place, and to a lesser extent also race, do matter. In general, race and place are not factors of direct exclusion, but (1) zip codes are included in credit scoring systems, and (2) both place and race are significant factors in the assessments by loan officers because applicants who do not meet all formal criteria are more often accepted ("overrides") for indigenous Dutch and low-risk neighborhoods than for ethnic minorities and high-risk neighborhoods. In addition, a "national mortgage guarantee" is compulsory for loan applications in high-risk neighborhoods and thereby used as a substitute for redlining, comparable to the compulsoriness of private mortgage insurance in the United States. Some lenders also engage in direct redlining by rejecting low-risk "national mortgage guarantee" loans in high-risk neighborhoods, a practice potentially explained by transaction cost economizing. Since the high-risk neighborhoods in all three cities accommodate relatively large shares of ethnic minority groups, they are hit twice: through place-based and through race-based exclusion. In other words, place-based disparate treatment results in race-based disparate impact. The neighborhood does matter; place-based exclusion in the mortgage market has a neighborhood effect. [source]

    BANKS' DIVERSIFICATION, CROSS-SELLING AND THE QUALITY OF BANKS' LOANS

    THE MANCHESTER SCHOOL, Issue 2009
    STEFANIA COSCI
    In this paper we model and empirically test the impact of banks' shift towards financial services on their screening activity and on the quality of their loans. We present a model where it is easier to sell services to positively evaluated loan applicants and we show that the larger the banks' income from services, the lower their optimal screening effort. This prediction is consistent with the empirical evidence based on a panel of European banks and showing that the quality of banks' loans decreases with the share of commission income (a proxy for income from services). [source]

    AFRICAN DEVELOPMENT BANK: Record Loan to Botswana

    AFRICA RESEARCH BULLETIN: ECONOMIC, FINANCIAL AND TECHNICAL SERIES, Issue 5 2009
    Article first published online: 3 JUL 200
    No abstract is available for this article. [source]

    A Kronecker product approximate preconditioner for SANs

    NUMERICAL LINEAR ALGEBRA WITH APPLICATIONS, Issue 8-9 2004
    Amy N. Langville
    Abstract Many very large Markov chains can be modelled efficiently as stochastic automata networks (SANs). A SAN is composed of individual automata which, for the most part, act independently, requiring only infrequent interaction. SANs represent the generator matrix Q of the underlying Markov chain compactly as the sum of Kronecker products of smaller matrices. Thus, storage savings are immediate. The benefit of a SAN's compact representation, known as the descriptor, is often outweighed by its tendency to make analysis of the underlying Markov chain tough. While iterative or projections methods have been used to solve the system ,Q=0, the time until these methods converge to the stationary solution , is still unsatisfactory. SAN's compact representation has made the next logical research step of preconditioning thorny. Several preconditioners for SANs have been proposed and tested, yet each has enjoyed little or no success. Encouraged by the recent success of approximate inverses as preconditioners, we have explored their potential as SAN preconditioners. One particularly relevant finding on approximate inverse preconditioning is the nearest Kronecker product approximation discovered by Pitsianis and Van Loan. In this paper, we extend the nearest Kronecker product technique to approximate the Q matrix for an SAN with a Kronecker product, A1 , A2 ,,, AN. Then, we take M = A , A ,,, A as our SAN NKP preconditioner. Copyright © 2004 John Wiley & Sons, Ltd. [source]

    Potential non-target impact of Microctonus aethiopoides Loan (Hymenoptera: Braconidae) on Cleopus japonicus Wingelmüller (Coleoptera: Curculionidae), a biocontrol agent for putative release to control the butterfly bush Buddleja davidii Franchet in New Zealand

    AUSTRALIAN JOURNAL OF ENTOMOLOGY, Issue 2 2005
    Mark R McNeill
    Abstract,Cleopus japonicus Wingelmüller (Coleoptera: Curculionidae) is being considered for release to control buddleia Buddleja davidii in New Zealand. As part of the pre-release testing, Moroccan and Irish biotypes of the solitary endoparasitoid Microctonus aethiopoides Loan (Hymenoptera: Braconidae) were evaluated for potential non-target impacts on adult C. japonicus should release occur. Laboratory experiments evaluated both the behavioural and physiological suitability of C. japonicus to both biotypes of the parasitoid. Parasitoid behavioural attraction was assessed using the pathenogenic bacterium Serratia marcescens (Enterobactereaceae), as an indicator of ovipositor penetration. Physiological suitability was assessed by comparing parasitism of C. japonicus with the natural hosts of the respective parasitoid biotypes. The parasitoid-bacteria study showed that C. japonicus was behaviourally acceptable to both Moroccan and Irish M. aethiopoides, with the two experiments producing 34% and 8% mortality, respectively. Cleopus japonicus did not support development of either Moroccan or Irish M. aethiopoides biotypes. None of the weevils dissected at the end of the experiment contained immature parasitoids. Comparison between unexposed and parasitoid-exposed C. japonicus found no difference in premature mortality during the experiment nor in the number of fully reproductive females at its conclusion. The results of this study predict that should C. japonicus be released, the potential impact of M. aethiopoides on field populations will be negligible. [source]

    Does Financial Liberalization Lower Problem Loans in Banks?

    ECONOMIC NOTES, Issue 2 2007
    Saibal Ghosh
    The paper explores whether financial liberalization promotes improved credit risk management in Indian banking in the form of fewer problem loans. Using annual data on state-owned banks for the period 1996,2005, the paper finds that, after controlling for a myriad of factors, financial liberalization is influential in lowering banks' problem loans. Robustness tests reinforce these findings. [source]

    Pricing Loans Using Default Probabilities

    ECONOMIC NOTES, Issue 2 2003
    Stuart M. Turnbull
    This paper examines the pricing of loans using the term structure of the probability of default over the life of the loan. We describe two methodologies for pricing loans. The first methodology uses the term structure of credit spreads to price a loan, after adjusting for the difference in recovery rates between bonds and loans. In loan origination, it is common practice to estimate the probability of default for a loan over a specified time horizon and the loss given default. The second methodology shows how to incorporate this information into the arbitrage free pricing of a loan. We also show how to derive an estimate of the credit spread due to liquidity risk. For both methodologies, we show how to calculate a break,even credit spread, taking into account the fee structure of a loan and the costs associated with the term structure of marginal economic capital. The break,even spread is the minimum spread for the loan to be EVA neutral in a multi,period setting. (J.E.L.: G12, G33). [source]

    Government Managing Risk: Income-Contingent Loans for Social and Economic Progress.

    ECONOMICA, Issue 306 2010
    By BRUCE CHAPMAN
    No abstract is available for this article. [source]

    A Multistage Model of Loans and the Role of Relationships

    FINANCIAL MANAGEMENT, Issue 4 2009
    Sugato Chakravarty
    We develop a multistage model of the loan granting process to understand the contradictory findings of the existing literature on bank-borrower relationships, credit availability, and loan rates. Upon estimating our model with the 1993, 1998, and 2003 versions of the Survey of Small Business Finances data set, we find that relationships matter in a borrower's decision whether to apply for a loan and in the loan approval/rejection decision by the financial institution. However, the effect of relationships on loan rates depends on the prevailing economic climate. While firms with preexisting relationships obtain credit at lower rates during periods of economic expansion, loan rates are not negatively correlated with preexisting relationships during periods of economic recession. [source]

    The Politics of Banking in Romania: Soft Loans, Looting and Cardboard Billionaires

    GOVERNMENT AND OPPOSITION, Issue 3 2004
    Lucian Cernat
    In this article attention is focused on the features of the emerging Romanian banking system, its failures, and their determinants. These failures were either politically driven or simply a result of the weak regulatory capacity of the state (as the owner of the banks) and lax monitoring from the central bank, as the central authority entrusted with the responsibility to maintain a well-functioning banking system. The reluctance of various governments, regardless of their political orientation, to apply sanctions against banks that are in trouble until the last possible moment encourage excessive risk-taking when banks first encounter financial difficultics, and asset-stripping when the insiders realize that a bank's continued viability is in jeopardy. Based on a number of case studies, the article argues that, in post-1989 Romania, insider trading, self-loans and blunt theft appeared more as systemic features rather than isolated incidents. [source]

    The Impact of Corporate Governance and Audit Quality on the Cost of Private Loans,

    ACCOUNTING PERSPECTIVES, Issue 4 2009
    Ling Chu
    ABSTRACT The objective of this paper is to examine whether banks discriminate between firms on the basis of their financial condition when assessing the credit default risk, and to what extent corporate governance and auditor quality mitigate such risks in the pricing of new bank loans. The results indicate that, depending on the probability of bankruptcy, banks rely on different monitoring devices. For firms with a low probability of bankruptcy, banks do not rely on the quality of corporate governance or the auditor's industry specialization. However, auditor tenure and a change in auditor affect the spread. For firms with a high probability of bankruptcy, the spread is adjusted for the quality of corporate governance and the auditor's specialization. These results are robust to alternative specifications and measures. [source]

    FINANCE/MARKETS: African Development Bank: New Loans

    AFRICA RESEARCH BULLETIN: ECONOMIC, FINANCIAL AND TECHNICAL SERIES, Issue 7 2010
    Article first published online: 1 SEP 2010
    No abstract is available for this article. [source]

    African Development Bank (AfDB): New Loans

    AFRICA RESEARCH BULLETIN: ECONOMIC, FINANCIAL AND TECHNICAL SERIES, Issue 6 2010
    Article first published online: 3 AUG 2010
    No abstract is available for this article. [source]

    SENEGAL: Micro Credit Loans

    AFRICA RESEARCH BULLETIN: ECONOMIC, FINANCIAL AND TECHNICAL SERIES, Issue 2 2010
    Article first published online: 1 APR 2010
    No abstract is available for this article. [source]

    African Development Bank: New Loans

    AFRICA RESEARCH BULLETIN: ECONOMIC, FINANCIAL AND TECHNICAL SERIES, Issue 11 2010
    Article first published online: 18 DEC 200
    No abstract is available for this article. [source]

    African Development Bank: Loans and Grants

    AFRICA RESEARCH BULLETIN: ECONOMIC, FINANCIAL AND TECHNICAL SERIES, Issue 10 2009
    Article first published online: 27 NOV 200
    No abstract is available for this article. [source]

    NIGERIA: Plan to Buy Bad Loans

    AFRICA RESEARCH BULLETIN: ECONOMIC, FINANCIAL AND TECHNICAL SERIES, Issue 2 2009
    Article first published online: 7 APR 200
    No abstract is available for this article. [source]

    Bank Loans Versus Bond Finance: Implications for Sovereign Debtors,

    THE ECONOMIC JOURNAL, Issue 510 2006
    Misa Tanaka
    This article analyses the optimal choice between bank loans and bond finance for a sovereign debtor. It shows that if borrowers can be ,publicly monitored' by a rating agency that disseminates the information about their creditworthiness, their choice between bank loans and bond finance is determined by the trade-off between two deadweight costs: the crisis cost of default and the cost of debtor moral hazard. If crisis costs are large, sovereigns use bank loans for short-term financing and bond issuance for long-term financing. I also demonstrate that state contingent debt and IMF intervention can improve welfare. [source]

    Default and Punishment in General Equilibrium,

    ECONOMETRICA, Issue 1 2005
    Pradeep Dubey
    We extend the standard model of general equilibrium with incomplete markets to allow for default and punishment by thinking of assets as pools. The equilibrating variables include expected delivery rates, along with the usual prices of assets and commodities. By reinterpreting the variables, our model encompasses a broad range of adverse selection and signalling phenomena in a perfectly competitive, general equilibrium framework. Perfect competition eliminates the need for lenders to compute how the size of their loan or the price they quote might affect default rates. It also makes for a simple equilibrium refinement, which we propose in order to rule out irrational pessimism about deliveries of untraded assets. We show that refined equilibrium always exists in our model, and that default, in conjunction with refinement, opens the door to a theory of endogenous assets. The market chooses the promises, default penalties, and quantity constraints of actively traded assets. [source]

    Pricing Loans Using Default Probabilities

    ECONOMIC NOTES, Issue 2 2003
    Stuart M. Turnbull
    This paper examines the pricing of loans using the term structure of the probability of default over the life of the loan. We describe two methodologies for pricing loans. The first methodology uses the term structure of credit spreads to price a loan, after adjusting for the difference in recovery rates between bonds and loans. In loan origination, it is common practice to estimate the probability of default for a loan over a specified time horizon and the loss given default. The second methodology shows how to incorporate this information into the arbitrage free pricing of a loan. We also show how to derive an estimate of the credit spread due to liquidity risk. For both methodologies, we show how to calculate a break,even credit spread, taking into account the fee structure of a loan and the costs associated with the term structure of marginal economic capital. The break,even spread is the minimum spread for the loan to be EVA neutral in a multi,period setting. (J.E.L.: G12, G33). [source]

    Incorporating Collateral Value Uncertainty in Loss Given Default Estimates and Loan-to-value Ratios

    EUROPEAN FINANCIAL MANAGEMENT, Issue 3 2003
    Esa Jokivuolle
    Abstract We present a model of risky debt in which collateral value is correlated with the possibility of default. The model is then used to study the expected loss given default, primarily as a function of collateral. The results obtained could prove useful for estimating losses given default in many popular models of credit risk which assume them constant. We also examine the problem of determining sufficient collateral to secure a loan to a desired extent. In addition to bank practitioners, regulators might find our analysis useful in reviewing banks' lending standards relative to current collateral values. In particular, the current proposals for The New (Basel) Capital Accord involve options for the use of banks' own loss given default estimates which might benefit from the analysis in this paper. [source]

    Real Estate Brokerage, Homebuyer Training, and Homeownership Sustainability for Housing Assistance Programs

    FAMILY & CONSUMER SCIENCES RESEARCH JOURNAL, Issue 4 2009
    Wayne Archer
    This study examines a previously overlooked factor in the rate of default on home loans by marginal first-time homebuyers; namely, the purchase transaction process. In particular, the study examines the potential for the type of initial contact in a homebuyer assistance program to affect the likelihood of default on a subsequent home loan. Using data from 41 state funded local assistance programs in Florida, the study is able to examine the relationship of program default rates to the source of applicant for assistance. Specifically, it examines the explanatory capacity of the percentage of applicants who had a contract to purchase prior to applying for assistance, indicated that the applicant already has engaged with a broker or lender. It finds that the percentage of applicants for assistance who already have engaged with a broker or lender is very significantly and positively relate to the program default rate. [source]

    A Multistage Model of Loans and the Role of Relationships

    FINANCIAL MANAGEMENT, Issue 4 2009
    Sugato Chakravarty
    We develop a multistage model of the loan granting process to understand the contradictory findings of the existing literature on bank-borrower relationships, credit availability, and loan rates. Upon estimating our model with the 1993, 1998, and 2003 versions of the Survey of Small Business Finances data set, we find that relationships matter in a borrower's decision whether to apply for a loan and in the loan approval/rejection decision by the financial institution. However, the effect of relationships on loan rates depends on the prevailing economic climate. While firms with preexisting relationships obtain credit at lower rates during periods of economic expansion, loan rates are not negatively correlated with preexisting relationships during periods of economic recession. [source]

    Capital Assistance for Small Firms: Some Implications for Regional Economic Welfare

    GEOGRAPHICAL ANALYSIS, Issue 1 2000
    Daniel Felsenstein
    This paper analyzes the role of finance capital in regional economic development. A cost-benefit approach is invoked in order to estimate the welfare impacts of a regional loan and guarantee program for small firms in Israel. Program-created employment is treated as a benefit and an employment account that separates net from gross employment, is presented. An estimate of net wage benefits is then derived. This involves adjusting wages across different earnings classes in order to account for the variation in opportunity costs of labor at different levels. The estimation of costs includes the opportunity costs of capital, administration, default, and tax-raising costs. Results point to substantial regional welfare effects. We stress the need to account for changing regional economic structure in this kind of evaluation framework. [source]

    The effect of service quality on trust and commitment varying across generations

    INTERNATIONAL JOURNAL OF CONSUMER STUDIES, Issue 4 2009
    Jinsook E. Cho
    Abstract We examine the effect of service quality on consumer trust and commitment in the context of obtaining a financial loan and how these relationships vary across different generational cohorts. We find that the service quality offered by a loan officer has a significant effect on consumer trust towards a financial institution, which in turn influences consumer commitment to a financial institution for a future transaction. We also find that relative strengths of a few paths in the model differ across different age cohorts, indicating some generational variability in the relationship between service quality, trust and commitment. [source]

    Consumer Credit Risk and Pricing

    JOURNAL OF CONSUMER AFFAIRS, Issue 1 2006
    DARRYL E. GETTER
    Previous academic studies viewed borrower rejection as a sign of market imperfections in the consumer credit markets, but this view was based upon the assumption that differences in the levels of borrower creditworthiness could not be accurately identified. Today, it is possible to differentiate between types of borrowers, and riskier borrowers can participate in credit markets if they are willing to pay relatively higher borrowing costs. Hence, a more critical issue concerning the performance of these markets should be whether loan prices correctly reflect the level of borrower credit risk. This paper reexamines consumer participation in credit markets looking specifically at issues related to the pricing of borrowers of different credit risk. [source]

    Spherically actuated platform manipulator

    JOURNAL OF FIELD ROBOTICS (FORMERLY JOURNAL OF ROBOTIC SYSTEMS), Issue 3 2001
    Robert L. Williams II
    This article presents the inverse and forward pose and rate kinematics solutions for a novel 6-DOF platform manipulator, actuated by two base-mounted spherical actuators. The moving platform is connected to the fixed base by two identical spherical-prismatic-universal serial chain legs. The S -joint is active, and the remaining two joints in each chain are passive. An analytical solution is presented for the inverse pose problems, a semi-analytical solution is presented for the rate problems, and the numerical Newton,Raphson technique is employed to solve the forward pose problem. Unfortunately, the passive joint variables cannot be ignored in the kinematics solutions as they can for the Gough,Stewart platform. Examples are presented and hardware has been built, using two Rosheim Omni-Wrists on loan from NASA as the spherical actuators. © 2001 John Wiley & Sons, Inc. [source]