Business Commons^™

Indonesia: Bank Century Emergency Liquidity Program, 2008, Vincient Arnold

Journal of Financial Crises

By the autumn of 2008, the effects of the Global Financial Crisis of 2007–2009 had struck Indonesia, as liquidity in interbank markets dried up, capital flows reversed, and economic growth slowed. On October 30, 2008, Bank Indonesia—the central bank of Indonesia—passed Regulation No. 10/26/PBI/2008, establishing a Short-Term Funding Facility for Commercial Banks (SFF). On October 31, 2008, the capital adequacy ratio of Bank Century, a relatively small Indonesian bank, was –3.35%. On November 14, 2008, after Bank Century failed to conduct payment clearing the day before, Bank Indonesia approved Bank Century for access to the SFF and began disbursements of …

Iceland: Kaupthing Emergency Liquidity Program, 2008, Sophia Alden, Léo Brougher

Journal of Financial Crises

Following the privatization of Iceland’s state-owned banks between 1998 and 2003, the three largest banks in Iceland—Glitnir, Landsbanki, and Kaupthing—grew rapidly, with consolidated assets increasing from 100% of Iceland’s GDP in 2004 to nearly 900% by the end of 2007. Initially, this growth was funded by debt issuances in the European medium-term note market; however, as cracks in the international financial system appeared in 2006, the banks turned to offering high-interest savings accounts through their foreign subsidiaries. Beginning in October 2006, Kaupthing launched “Kaupthing Edge,” an online savings and deposit platform operating in markets outside Iceland. When the United States …

Germany: Ikb Deutsche Industriebank Emergency Liquidity Program, 2008, Ayodeji George, Sophia Alden

Journal of Financial Crises

In the summer of 2007, IKB Deutsche Industriebank (IKB) faced heavy losses owing to the liquidity support it had provided on commercial paper issued by Rhineland Funding Capital Corporation, its off-balance-sheet vehicle, which held distressed collateralized debt obligations backed by US subprime mortgages. In July 2007, authorities became aware that IKB itself had lost access to liquidity from Deutsche Bank and other funding partners. Publicly owned development bank Kreditanstalt für Wiederaufbau (KfW) held a 38% stake in IKB, exposing it to potentially heavy losses in the event of an IKB failure. KfW, German financial authorities, and German banks pursued a …

Cyprus: Laiki Bank Ad Hoc Emergency Liquidity Assistance, 2011, Stella Schaefer-Brown

Journal of Financial Crises

Following the European Union’s decision to restructure Greek debt in October 2011, Laiki Bank’s depositors began to withdraw their funds from the bank in growing numbers after it reported that its portfolio of Greek government bonds had lost EUR 2.3 billion in value. Beginning October 2011 and lasting until the bank’s resolution in 2013, Laiki Bank requested and received emergency liquidity assistance (ELA) from the Central Bank of Cyprus (CBC) so that the bank could continue to fund itself as depositors withdrew their funds. In June 2012, Cypriot authorities recapitalized Laiki Bank, and the government became an 84% shareholder. From …

Denmark: Roskilde Bank Emergency Liquidity Program, 2008, Bailey Decker

Journal of Financial Crises

Roskilde Bank A/S (Roskilde) was the eighth-largest bank in Denmark at the time of the Global Financial Crisis, with approximately 43 billion Danish kroner (DKK; USD 9.1 billion) in consolidated assets as of March 2008. Roskilde had considerable exposure to real estate and construction firms, prompting ratings downgrades and larger write-downs than expected in July 2008. On July 10, 2008, Roskilde asked for liquidity assistance from the Danish central bank, Danmarks Nationalbank (DNB). Later that day, DNB and the banking sector’s self-insurance group, the Private Contingency Association (PCA), announced emergency liquidity assistance to Roskilde in the form of an unlimited …

Canada: Canadian Commercial Bank Emergency Liquidity Program, 1985, Adam Keanie, Léo Brougher

Journal of Financial Crises

In March 1985, the Canadian Commercial Bank (CCB)—Canada’s 10th largest bank, with CAD 2.9 billion in assets—reported to the Office of the Inspector General of Banks (OIGB) and the Bank of Canada (BoC) that CCB would not survive owing to large losses on its United States energy loans portfolio. In response, the BoC assembled an emergency CAD 255 million rescue package, secured through contributions from a consortium composed of the federal government, the provincial government of Alberta, the Canadian Deposit Insurance Corporation, and Canada’s six largest banks. Despite the BoC’s reassurances, including a public announcement promising virtually unlimited liquidity support, …

Ad Hoc Emergency Liquidity Programs In The 21st Century, Steven Kelly, Vincient Arnold, Greg Feldberg, Andrew Metrick

Journal of Financial Crises

This paper surveys 22 case studies of 21st century instances when financial crisis-fighters implemented ad hoc emergency liquidity (AHEL) interventions, interventions designed to provide liquidity to a troubled institution that the authorities believe is systemically important. While emergency liquidity support is often introduced with the real or communicated intention of preventing illiquidity from leading to insolvency, the liquidity crisis should instead be viewed as the manifestation of the market’s assessing the firm as nonviable as a going concern. For that reason, authorities should provide AHEL assistance only to institutions that they have deemed viable or that they have committed to …

Brazil: Banco Btg Pactual Emergency Liquidity Program, 2015, Vincient Arnold

Journal of Financial Crises

On November 25, 2015, André Esteves, then CEO of Banco BTG Pactual, a large Brazilian investment bank, was arrested by Brazilian authorities in connection with suspected involvement in a corruption scandal. Although the arrest did not involve BTG in any capacity and Esteves was later acquitted, the company’s stock quickly collapsed and depositors and other creditors rushed to reduce their exposures to the company. Depositors withdrew certificates of bank deposits, which BTG relied on to fund its daily operations. By November 27, BTG shares had fallen 26%. On December 2, the top seven shareholders of BTG took control of the …

Containing Runs On Solvent Banks: Prioritizing Recovery Over Resolution, Edoardo David Martino, Enrico C. Perotti

Journal of Financial Crises

The sudden banking defaults in the spring of 2023 proved current prudential norms insufficient to prevent bank distress. Capital and liquidity norms need to be adjusted. The experience also shows how a lack of credible supervisory tools led to forbearance and finally chaotic public bailouts. An intervention gap arises when viable but undercapitalized banks are at the mercy of runs. Once outflows start to escalate, all that is left is to prepare for resolution and assign losses. We call for new Pillar II – i.e. activated by the supervisor – stabilizing measures, as contingent capital and liquidity tools.

A timely …

Self Perception Of Leadership Styles And Behavior In Secondary School Athletic Trainers, Kelly A. Coleman, Stephanie M. Singe

Internet Journal of Allied Health Sciences and Practice

Purpose: Leadership has been considered an important part of advancing the profession, but investigations into leadership styles of clinically practicing athletic trainers (ATs) are scant, with none in the secondary school setting. The purpose of this study was to explore the leadership styles of secondary school ATs and to determine if differences in leadership style practices exist across demographic characteristics. Methods: We used a cross-sectional web-based survey (Qualtrics, Provo, UT). Leadership style was assessed via the Multifactor Leadership Questionnaire (MLQ)-5x where transformational, transactional, and passive/avoidant leadership behaviors were measured on a five-point Likert scale (0=not at all; 1=once in a …

Empowering Consumers: The Impact Of Awareness On Skill Development And Assertiveness In Market Engagement, Megawati Simanjuntak

Journal of Marketing and Consumer Behaviour in Emerging Markets

Consumer empowerment focuses on the knowledge, attitudes, skills, and advocacy that enable consumers to recognize and defend their rights and responsibilities. This study aims to explore the relationship between consumer awareness, skills, and assertiveness, highlighting the role of consumer empowerment in defending their rights. The study involves 2,600 respondents, consisting of 1,400 individuals from urban areas and 1,200 individuals from rural areas, analysed using Structural Equation Modelling (SEM). The findings reveal that consumer awareness significantly enhances both skills and assertiveness. Additionally, consumer skills serve as a mediator linking awareness and assertiveness. This research emphasizes that higher awareness among consumers can …

The National Cybersecurity Teaching Coalition: Expanding Cybersecurity Education Opportunities, Paul Wagner, Melissa Dark, Robert Honomichl, Filipo Sharevski, Sandra Leiterman

Journal of Cybersecurity Education, Research and Practice

The increasing prevalence of cybersecurity threats and the shortage of qualified professionals necessitate innovative solutions for cybersecurity education at all levels. Despite the expansion of post-secondary cybersecurity programs, employer dissatisfaction with graduates and a lack of standardized introductory curricula highlights the need for structured secondary education pathways. The National Cybersecurity Teaching Coalition (NCTC) and its National Cybersecurity Teaching Academy (NCTA) address this gap by equipping high school educators with the necessary knowledge and credentials to teach cybersecurity effectively. NCTA offers an 18-credit cybersecurity graduate certificate program to ensure teachers are competent and confident to develop and teach cybersecurity curriculum with …

Unleaded Aviation Fuel: Assessing Stakeholder Perceptions And Preparing An Organization For Change, Ryan Guthridge, Nicholas D. Wilson, Brandon Wild

Journal of Aviation Technology and Engineering

Since the Clean Air Act of 1996 banned the use of leaded fuel for automotive applications, leaded aviation gasoline (AVGAS) has become one of the leading sources of lead pollution in the nation due to the volume of AVGAS consumed in general aviation applications (GAMA, 2019). The Federal Aviation Administration has recently recognized this concern with the establishment of the Eliminate Aviation Gasoline Lead Emissions (EAGLE) initiative, which was formally established in February 2022 to foster an important campaign to research and inform the general aviation community on the process for transitioning to unleaded AVGAS. This essay seeks to inform …

Navigating Work-Life Balance: A Study Of School Educators In Challenging Contexts, Laurent Yacoub, Sara Abou Ibrahim, Nadine Osman, Zubaida Daye, Nada Jabbour Al Maalouf

Arab Economic and Business Journal

Work-life balance has become an essential aspect of employees’ fundamental rights provided by the workplace in almost every industry. While WLB is widely recognized for enhancing employees’ productivity, motivation, and consequently, the overall success of the organization, limited research has focused on its role in the educational sector, particularly in Lebanon. In the educational sector, this concept is particularly important since this sector is known for the high amounts of workload during and after school hours. This study explores the impact of work-life balance on job satisfaction among both Lebanese and non-Lebanese teachers in private and public schools in Lebanon, …

The Impact Of Ai Use In Programming Courses On Critical Thinking Skills, Christian Jay St Francis Clarke, Abdullah Konak

Journal of Cybersecurity Education, Research and Practice

Proficiency in computer programming extends far beyond memorizing syntax; it depends on the cultivation of critical thinking. Computer programming requires multiple interconnected competencies, including systematic problem analysis, algorithmic reasoning, mastery of programming languages, debugging capabilities, a comprehensive understanding of software development methodologies, rigorous testing practices, and systematic troubleshooting approaches. These skills are also essential for cybersecurity experts; cybersecurity programs require several programming courses to enhance students’ technical and critical thinking skills. Generative AI (GenAI) technologies have fundamentally changed the process of developing applications and approaches to teaching coding. The growing use of GenAI technologies by students in writing computer code …

Nonlinear Monetary Policy Reaction Function And Macroeconomic Fundamentals In India, Masud Hasan Adil, Vishal Sharma, Sana Fatima

Bulletin of Monetary Economics and Banking

The hybrid Taylor rule of the Reserve Bank of India (RBI) is the subject of the current study, which investigates nonlinearities in an open economy that includes a fiscal variable. The analysis employs a nonlinear cointegration approach and identifies policy preference asymmetries. The RBI prioritizes price stability due to the preference for inflation avoidance over recession. Fiscal variable plays a significant role in estimating the Taylor rule, which suggests that it is necessary to align fiscal and monetary policy in order to maintain the inflation within the designated range. Lastly, the nonlinear Taylor rule findings not only aid in comprehending …

What You See Is Not What You Get: Food Advertising Amidst The Global Overweight And Obesity Pandemic, Marija Ocokoljic

Journal of Marketing and Consumer Behaviour in Emerging Markets

The tandem issue of obesity and overweight is a serious global issue that has attained pandemic scale. Media, particularly advertising, plays an active role in shaping perceptions and behavioural patterns, influencing both how and what people eat. This paper analyses food advertising in Serbia in 2023 in the context of promoting dietary habits. Content analysis of commercials aired on a selection of television stations during the year showed the overwhelming prevalence of ads for food high in fat, sugar, and salt (HFSS), with confectionary products in lead positions. Commercial narratives centre on framing them as sources or catalysts for joyful, …

21st Century Monetary Policy: The Federal Reserve From The Great Inflation To Covid-19, Greg Arburn

The Journal of Economics and Politics

No abstract provided.

Ai Beliefs And Practices In Community College Classrooms, Julie Eng, Heather Umphlett, Jocelyn Gilchrist, Alicia Howell, Mary Ann Howell, Wendy Miller-Edwards, Laurel Pope

Inquiry: The Journal of the Virginia Community Colleges

The country, the Commonwealth of Virginia, and Virginia Community College System initiatives all promote generative AI within education. It is a topic of great concern and interest for higher education instructors, yet at the same time many faculty members feel uncertain about effectively integrating it into class material. To further add pressure to the AI explosion, community colleges particularly face a responsibility to prepare their students for success in this new AI-focused environment. In this article, seven faculty members from Camp Community College discuss the implications of generative AI programs, including subscriptions and chatbots, within their particular courses and how …

Sustainable Leadership In Family-Owned Businesses: The Practice Of Searching Profitability And Evaluating The Business’ Effects On The Environment, Ahmad Mansour, Hind Al-Ahmed, Ahmad Shajrawi, Khaled Alshaketheep, Muhammad Alshurideh, Arafat Deeb

An-Najah University Journal for Research - B (Humanities)

Objective: This research studies family business sustainability leadership adoption obstacles especially regarding their dual need to achieve both profitability and environmental impact targets while examining potential solutions to these problems. Methodology: A research methodology included literary analysis and field studies along with questionnaire distribution for obtaining qualitative and quantitative data. The research survey gathered information about how family businesses handle sustainability measures that focus specifically on their energy consumption as well as energy efficiency and water management plans. Results/Findings: The analysis revealed renewable energy adoption by 80% of the businesses along with energy efficiency implementation in 75% of the …

The Secret Service Industry: Reimagining Trade Secret Protections To Curb Exploitation In The Hospitality Industry, Caleb Graham

Journal of Intellectual Property Law

This paper observes and analyzes the current discussion around the exuberant use of non-compete clauses in the business world by placing a focus on the hospitality industry and why, in an time where we are witnessing the demonization of non-competes it might be prudent to revisit and enhance trade secret laws to make them better equipped to handle the caseload that would inevitably come should non-competes be banned by the FTC. While the near-ban or complete ban of non-competes would certainly affect other industry fields and bodies of law, the hospitality industry is one that has been particularly scrutinized as …

What Our Faces And Words Convey: An Ai Assisted Behavioral Approach To Emotional Intelligence Development In An Undergraduate Teams Course, Ryan Will, Brent Goertzen, Magdalene Moy

SACAD: Scholarly Activities

This poster explores the development of emotional intelligence in leadership and team dynamics, addressing limitations of traditional methods that rely on perceptual measures which serve as proxies for leader or follower behaviors (Banks et al., 2023). Participants analyze verbal and nonverbal communication patterns from team meetings throughout a semester-long project using content analysis and emotion-detection AI (Imentiv.ai), which leverages the Facial Action Coding System (FACS) (Rosenberg & Ekman, 2020). The intervention involves video recording three team meetings at key stages (early, mid-point, and end) to capture communication changes over the team lifecycle. Individualized feedback, combining verbal and nonverbal analysis, is …

Investigating Consumer Preferences For Laptop Computers Using Choice-Based Conjoint (Cbc) Analysis, Xiaoyi Yan

SACAD: Scholarly Activities

This study employs a choice-based joint (CBC) analysis to investigate college students' preferences for laptop computers. Data was collected from 49 students at a university in the Midwestern part of the United States. The authors focused on five attributes: brand, price, screen size, performance, and battery life. The results show that branding, especially Apple, is the most critical factor, indicating strong brand loyalty or perceived quality. Performance and battery life followed as most important and can be affected by high usage. Conversely, the impact of screen size is minimal, suggesting that students are prioritizing portability and functionality over larger displays. …

Exploring Green Practices, Opportunities And Challenges Facing Tourism And Hospitality Industry For Sustainable Future In Rwanda, Paul Okumu

Journal of Global Hospitality and Tourism

This article examines the complexities surrounding green tourism practices in the global context with particular emphasis on Rwanda as a case study area. This article explores the opportunities presented to stakeholders and the challenges faced in achieving a sustainable future in tourism and hospitality consumption. The study pays keen interest to understanding the interaction between environmental conservation efforts, socio-economic development, and tourism sustainability. Thorough comprehensive literature review, key concepts and theoretical frameworks of green tourism are explored, laying the foundation for the analysis of previous studies on green tourism evolution globally and in developing countries. The study identifies factors influencing …

Preparing Youth For Careers In Drone Aviation: Evaluating Washington County 4-H Drone Camps, Paul A. Hill, Aubree L. Miller, Katarina J. Aikens

Outcomes and Impact Quarterly

Drone technology presents growing career opportunities, yet youth access to education in this field remains limited. This study evaluates the Washington County 4-H Drone Camps, which aimed to equip youth in 4^th – 8^th graders with essential knowledge and skills in drone aviation. The Drone Camps focused on competencies such as drone anatomy, FAA regulations, and piloting skills. Evaluation results indicated youth improved in all competency areas after completing the camp. The Washington County 4-H Drone Camps effectively allowed youth to explore drone technologies and prepare them for a possible career pathway.

The Emergence Of Artificial Intelligence-Driven Reservation Services Analyzed Through Push-Pull-Mooring Theory And Their Potential To Enhance Tourism Experiences, Dimitra Skandali, Muhammad Ali Raza

Journal of Global Hospitality and Tourism

Artificial intelligence-based bath bed reservation services signify a novel evaluation of consumer behavior in densely populated tourist destinations. The phenomenon of overcrowded beaches, particularly during the peak summer months at well-known public beaches in Europe, has increased demand during rush hours. The research aims to clarify the key factors that influence the use of these applications, primarily on mobile phones, by applying the Push-Pull-Mooring Theory, in addition to identifying the primary causes of the high demand and the importance of staying close to the shore when sunbathing. The study emphasizes the impact of perceived risk and enjoyment on user behavior, …

Measuring Social Capital In Tourism Operation And Its Influences On Peoples’ Involvement, Kalimuththu Shanmuganathan, Nalin Abeysekera, L.P.S. Gamini, Lalith Chandralal

Journal of Global Hospitality and Tourism

This study developed a reliable scale for measuring Social Capital in the context of tourism operations and examines its influences on Peoples' Involvement. The quantitative research method was employed, and the five stages of data purification processes were performed: identification of dimensions and indicators, item-to-total correlation, and explorative factor analysis, confirmatory factor analysis, and the structural equation model. The study identifies four dimensional scales of social capital across 13 indicators: bonding social capital, social bridging capital, social linking capital, and social harmless capital, and confirms that social capital has a significant influence on peoples' involvement. As the first effort at …

The Interplay Of Website Characteristics, Attitude, And Booking Intentions For Different Hotel Websites: A Theory Of Reasoned Action Perspective, Atefeh Charmchian Langroudi, Imran Rahman, Maryam Charmchian Langroudi, John Stephan, Parisa Mohammadi

Journal of Global Hospitality and Tourism

Using the theory of reasoned action as the underlying theoretical foundation, this study examines the direct effects of compatibility, perceived usefulness, communicability, perceived risk, and perceived playfulness on attitudes toward online booking and the indirect effects of these variables on consumers’ intention to use three different online hotel booking channels - independent hotel websites, chain hotel websites, and third-party hotel websites. Additionally, this study tests the direct effect of attitude towards online booking on consumers’ intention to use the three online booking channels. Collected data from 638 participants via Amazon M-Turk was analyzed using partial least squares based structural equation …

Art Meets Commerce: How Exhibitions Shape Visitor Behavior In Tourism Shopping Centers, Xi Wang, Rui Ma, Lan Yang, Jie Zheng

Journal of Global Hospitality and Tourism

Serving as prominent leisure and entertainment platforms, tourism shopping malls have evolved their appeal by integrating art exhibition centers, thus magnifying the retail ambiance. This study dived into the correlation between the incorporation of these art centers within tourism shopping environments and the subsequent consumer propensity to visit, encompassing a meticulous evaluation of both the art exhibits attributes and art exhibition center attributes. Utilizing the technique of structural equation modeling for the analysis, this research unraveled various aspects of this interplay with 437 surveys from art exhibition customers in shopping malls. It was found that all the examined factors, with …

Exploring Strategies And Innovations In Airline Profitability Assessment: The Role Of Artificial Intelligence, Elif Degirmenci

Journal of Global Hospitality and Tourism

The airline industry's profitability assessment remains a complex yet critical aspect of strategic decision-making, spanning from hub profitability to individual flight performance. This paper explores the diverse methodologies and challenges involved in evaluating both line and network profitability, emphasizing the need for innovative approaches in reconciling variable costs associated with aircraft types and route assignments. Traditional methods are juxtaposed with innovative concepts like the Blended Aircraft Cost model, offering insights into enhancing market route profitability. Additionally, advanced methodologies such as horizontal and vertical methods are discussed, alongside the role of artificial intelligence in revolutionizing real-time profitability analysis. Through a comprehensive …