It is well known that equity, currency, or banking crises generate substantial real costs for the country in which they occur. Authorities and financial market participants have often been concerned that these crises would spill over or spread, leading to financial system volatility or crises elsewhere in the world. The recent Mexican, Asian, and Russian crises are examples where shocks origina...

We analyze the effect of risk aversion, wealth and portfolios on the behavior of investors in a global game model of currency crises with continuous action choices. The model generates a rich set of striking theoretical predictions. For example, risk aversion makes currency crises significantly less likely; increased wealth makes crises more likely; and foreign direct investment (illiquid inves...

tion, and disinvestments in health systems have contributed to increasing national crises and made countries more vulnerable to systemic shocks. Over this period the world has experienced an alarming increase in costly humanitarian disasters that have tragically affected millions of people each year. Shocks have included violent internal conflicts; natural traumas such as droughts and hurricane...

BACKGROUND The complexity of providing medical care in a high-tech environment with a highly specialized, limited labour force makes hospitals more crisis-prone than other industries. An effective defence against crises is only possible if the organizational resilience and the capacity to handle crises become part of the hospitals' organizational culture. To become more resilient to crises, a r...

Debt and currency crises are closely interlinked through the government’s intertemporal budget constraint. The default tax and the inflation/devaluation tax can be considered as alternative means of financing. Our empirical analysis finds that high-debt countries choose default rather than inflation/devaluation for financing, while a high money stock reduces the probability of debt crises. Furt...

The coincidence of banking and currency crises associated with the Asian financial crisis has drawn renewed attention to causal and common factors linking the two phenomena. In this paper, we analyze the incidence and underlying causes of banking and currency crises in 90 industrial and developed countries over the 1975-97 period. We measure the individual and joint (“twin”) occurrence of bank ...

The purpose of the study was to determine the relationship between stressmanagement and workforce productivity of Amol Industrial Park located inMazandaran Province. The total population size in the research was 250 from topmanagers, middle managers and supervisors responsible in the before-mentionedIndustrial Park and the sample size was determined through Morgan samplepopulation volume table ...

In recent ®nancial crises a bubble, in which asset prices rise, is followed by a collapse and widespread default. Bubbles are caused by agency relationships in the banking sector. Investors use money borrowed from banks to invest in risky assets, which are relatively attractive because investors can avoid losses in low payoff states by defaulting on the loan. This risk shifting leads investors ...

entrepreneurs in many small firms could not be experts in only one specific functional area but are required to operate across the range of management competencies; the applicability of competence-based mtd (management training and development) to the broader roles of entrepreneurs in small businesses is likely to be greater than to the roles of many entrepreneurs in large organizations. compet...