this paper proposes a HMM (Hidden Markov Model) based fraud detection system for credit card fraud detection. The method works on the statistical behavior of user’s transactions. Since the original transactions are not available due to privacy policies of bank we used here synthetically generated data for a credit card user, and then HMM model is trained using different size of sample of genera...

the study was designed to analyze credit receipt and enterprise performance by small scale agro based enterprises in the niger delta region of nigeria. a multistage sampling technique was adopted in selecting 264 agro based enterprises and 96 agro based enterprises that accessed informal and formal credit respectively. the heckman model was used to examine the factors affecting amount of inform...

The recent growth in diplomatic, civil and military conflicts presents evolving challenges for international business. These risks create new sources of country risk. Country risk, in this sense, is commonly associated with the risk faced by enterprises in developed countries while conducting their business operations in developing or politically volatile countries. Few studies, however, have b...

We analyze the impact of cognitive skills on two specific examples of consumer financial decisions where suboptimal behavior is well defined: first, the use of a credit card for a transaction after making a balance transfer on the account, and second, cases where individuals are penalized for inaccurate estimation of the value of one’s home on home equity loan or line of credit application. We ...

The investment decisions of small‐scale farmers in developing countries are conditioned by their financial environment. Binding credit market constraints and incomplete insurance can reduce investment in activities with high expected profits. We conducted several experiments in northern Ghana in which farmers were randomly assigned to receive cash grants, grants of or opportunities to purchase ...

Terrorism is commonly considered a coercive political strategy employed to manipulate a broader audience, enraptured by the horror of the terrorist’s dramatic acts of violence. However, if generating publicity and disrupting public life is the raison d’etre of modern terrorism, why do so many contemporary attacks remain unclaimed by their perpetrators? Over the past forty years, the proportion ...

Prior work has identified binding credit constraints during recessions. We assess whether corporate diversification alleviates these constraints. We use relative-to-industry growth in sales and growth in inventories as measures of a firm’s ability to fund its activities. We find that during recessions, industry-adjusted sales growth rates drop more for bank-dependent focused firms than for bank...

Increased availability of temptation goods might harm individuals if they have time-inconsistent preferences and consume more in the present than planned before. We study this idea by examining the credit behavior of low-income households around the expansion of the opening hours of retail liquor stores during a nationwide experiment in Sweden. Consistent with store closures serving as commitme...

Financial education is commonly assumed to affect knowledge and behavior, yet its impacts remain relatively untested. Very low-income families in a subsidized housing program were randomly assigned to a mandatory financial education program and tracked for 12 months. Financial education led to improvements in self-reported behaviors, but no measurable effects on savings or credit, except for pa...

Lenders experience positive net revenue impacts from lending if they increase the classification power of their credit scoring systems. If loan officers’ subjective assessments of otherwise intangible borrower characteristics contain additional information about a borrower, a lender may improve the default forecast quality of his internal credit scoring systems by utilizing this subjective info...