Knowledge and learning are seen as key success factors for international competitiveness and economic growth in contemporary societies and have been placed at the top of the policy agenda in many countries. But actual developments in former socialist countries of Europe and Asia have totally run counter to such aims in the last decade. Science and technology (S&T) in the transformation countrie...

We derive the default cascade model and fire-sale spillover in a unified interdependent framework. The interactions among banks include not only direct cross-holding, but also indirect dependency by holding mutual assets outside banking system. Using data extracted from European Banking Authority, we present interdependency network composed of 48 21 asset classes. For robustness, employ three m...

Multistage stochastic programming in contrast to stochastic control has found wide application in the formulation and solution of nancial problems characterized by a large number of state variables and a generally low n umber of possible decision stages. The literature on the use of multistage recourse modelling to formalize complex portfolio optimization problems dates back to the early sevent...

The paper investigates the role of fixed income in pension schemes investment Ghana by specifically looking at asset allocation and initial required to make scheme solvent future a specified high probability after matching all liabilities Ghana.Looking assets-only analysis without their liabilities, equity appears be an attractive classes invest in. However, considering asset-liability analysis...

With the proposed RBC requirements for variable annuities with guarantees (so called C3 Phase II) requiring stochastic testing, there should be a lot of interest in the approaches to reducing the number of runs. This article provides strategies to reduce number of runs in stochastic insurance modeling as well as cash flow testing when the interest scenarios are stochastic. Three interest rate s...

Enterprise IT asset disposition is one important contributing dimension to green IT initiatives adopted by organizations. IT asset disposition services aim to maximize the value of the IT asset investment of enterprises over its entire lifecycle while guaranteeing data security and protecting against environmental liability. The purpose of this paper is to introduce the practice of IT asset dis...