We isolate the direct bank-to-sovereign distress channel within the Eurozone’s sovereignbank-loop by exploiting the global, non-Eurozone related variation in stock prices. We instrument banking sector stock returns in the Eurozone with exposure-weighted stock market returns from non-Eurozone...

The maximum entropy methodology is applied to the Schelling model of urban segregation in order to obtain a reliable prediction of the stable configuration of the system without resorting to numerical simulations. We show that this approach also provides an implicit equation describing the...

In this paper made reference to ensure a conditions for the possibility of an efficient functioning of the organization. It was considered that it is the implementation of improvement measures adequate to the nature of irregularities. These activities should provide the opportunity to improve,...

The Financial Liquidity Investment Efficiency Model (FLIEM) was presented and discussed by Michalski (Value-based working capital management: determining liquid asset levels in entrepreneurial environments. Palgrave Macmillan, 2014). Here the Cash Levels in Full Operating Cycle (CLFOC) is...

There is a general acceptance of the fact that a significant direct relationship between financial markets and macroeconomic variables exists, especially by considering the assertion that developed financial markets correspond to high GDP levels. This paper provides an investigation of the...

In 2018, the Insurance Distribution Directive (IDD) was fully implemented by all EU member states. It intends to harmonize the insurance market, provide the right incentives for the agents and protect the consumers. But why? The core business of the banking sector makes it necessary for a...