Consider (with apologies to Adam Smith) an efficient pin producer selling half her production in the convertible currency market (where buyers are picky) and the rest in the domestic market to inefficient, financially shaky (state-owned) enterprises. The pins are similar but not identical, with only good pins sold in the convertible currency market and both good and bad pins in the domestic mar...

Without denying the importance of asymmetric information, this article purports the view that credit rationing may also originate from a lender’s inability to classify loan applications into proper risk categories. Although particularly prominent when novel technologies or novel institutional arrangements arise, lack of appropriate categories may affect any request of money lending, making cred...

Recent studies have shown that firms credit rating transition process is not stationary and may have structural breaks. To study the predictability of structural breaks, we develop a predictive model for latent structural breaks in firms rating transition dynamics, using historical records of (highdimensional) economic and market fundamentals. As a large number of economic and market variables ...

Interest in computer science is growing. As a result, computer science (CS) and related departments are experiencing an explosive increase in undergraduate enrollments and unprecedented demand from other disciplines for learning computing. According to the 2014 CRA Taulbee Survey, the number of undergraduates declaring a computing major at Ph.D. granting departments in the US has increased 60% ...

Incident reporting as a key mechanism for organisational learning and the establishment of a stronger safety culture are pillars of the current patient safety movement. Studies have suggested that incident reporting in healthcare does not achieve its full potential due to serious barriers to reporting and that sometimes staff may feel alienated by the process. The aim of the work reported in th...