Bank Business Models at Zero Interest Rates

We propose a novel observation-driven finite mixture model for the study of banking data. The model accommodates time-varying component means and covariance matrices, normal and Student’s t distributed mixtures, and economic determinants of time-varying parameters. Monte Carlo experiments suggest that units of interest can be classified reliably into distinct components in a variety of settings. In an empirical study of 208 European banks between 2008Q1–2015Q4, we identify six business model components and discuss how their properties evolve over time. Changes in the yield curve predict changes in average business model characteristics.     

Dependence Between Two Diagnostic Tests with Copula Function Approach: A Simulation Study

The study of the dependence between two medical diagnostic tests is an important issue in health research since it can modify the diagnosis and, therefore, the decision regarding a therapeutic treatment for an individual. In many practical situations, the diagnostic procedure includes the use of two tests, with outcomes on a continuous scale. For final classification, usually there is an additional “gold standard” or reference test. Considering binary test responses, we usually assume independence between tests or a joint binary structure for dependence. In this article, we introduce a simulation study assuming two dependent dichotomized tests using two copula function dependence structures in the presence or absence of verification bias. We compare the test parameter estimators obtained under copula structure dependence with those obtained assuming binary dependence or assuming independent tests.     

Survival Estimation with Missing Censoring Times for the Generalized Koziol–Green Model

ABSTRACT

When analyzing time-to-event data, there are various situations in which right censoring times for unfailed units are missing. In that context, by taking a supplementary sample of a convenient percentage of unfailed units, we propose a semi-parametric method for estimating a survival function under the natural extension of the Koziol–Green model to double random censoring. Some large sample properties of this estimator are derived. We prove uniform strong consistency and asymptotic weak convergence to a Gaussian process. A simulation study is also presented in order to analyze the behavior of the proposed estimator.     

Convergence of non-linear functionals of smoothed empirical processes and kernel density estimates

We consider regularizations by convolution of the empirical process and study the asymptotic behaviour of non-linear functionals of this process. Using a result for the same type of non-linear functionals of the Brownian bridge, shown in a previous paper [4], and a strong approximation theorem, we prove several results for the p-deviation in estimation of the derivatives of the density. We also study the asymptotic behaviour of the number of crossings of the smoothed empirical process defined by Yukich [17] and of a modified version of the Kullback deviation.     

On the recoding of continuous and bounded indexes to a binomial form: an application to quality-of-life scores

The statistical analysis of patient-reported outcomes (PROs) as endpoints has shown to be of great practical relevance. The resulting scores or indexes from the questionnaires used to measure PROs could be treated as continuous or ordinal. The goal of this study is to propose and evaluate a recoding process of the scores, so that they can be treated as binomial outcomes and, therefore, analyzed using logistic regression with random effects. The general methodology of recoding is based on the observable values of the scores. In order to obtain an optimal recoding, the evaluation of the recoding method is tested for different values of the parameters of the binomial distribution and different probability distributions of the random effects. We illustrate, evaluate and validate the proposed method of recoding with the Short Form-36 (SF-36) Survey and real data. The optimal recoding approach is very useful and flexible. Moreover, it has a natural interpretation, not only for ordinal scores, but also for questionnaires with many dimensions and different profiles, where a common method of analysis is desired, such as the SF-36.     

Young people,social workers and social work education: the role of digital skills

ABSTRACT

This paper addresses a key issue in the development of youth-focused social work: the role of digital skills in the relationship between young people and social workers who work with these native digital users. To this end, we analysed data from the International Digital Economy and Society Index 2019 and Eurostat. Information from the sixth European Working Conditions Survey and a survey conducted by the Social Care Institute for Excellence and the British Association of Social Workers supported the empirical analysis. The main findings reveal a gap between the level of digital skills required in the labour market and the actual level of digital skills in both young people and social workers, despite efforts by both groups to improve their skills. Initiatives to foster digital skills are therefore recommended to bridge this digital divide. Lastly, it was concluded that both groups could act as mutual drivers of digital transformation.     

Size does matter: Passive sampling in urban parks of a regional bat assemblage

Urban Ecosystems - We studied the occurrence of bats in urban parks in the city of Madrid (Spain), and the resulting patterns were compared with bat occurrence in the surrounding region. In this...     

Policies to Attract R&D-related FDI in Small Emerging Countries: Aligning Incentives With Local Linkages and Absorptive Capacities in Chile

Over the last decade we have witnessed an unprecedented growth in the number of cross-border R&D investments towards large emerging countries such as China and India. However, small middle-income countries have played a marginal role as recipients of R&D-related FDI despite increasing policy efforts. In particular, several Latin American countries have recently launched new policy programs with the aim of attracting this kind of investments, but it remains uncertain whether public incentives can be useful to compensate for other locational disadvantages. The case of Chile provides an interesting empirical setting to explore these issues because during the last decade its government has been actively promoting R&D-related FDI through a new policy mix. This article suggests that for national innovation systems to benefit from the attraction of internationally-mobile R&D it is critical for public policies to ensure that appropriate linkages are established with local actors that hold absorptive capacities. Equally important for a small emerging economy like Chile is to prioritize R&D-related FDI in strategic technology niches where the country can realistically attain critical mass.