Made available in DSpace on 2016-03-15T19:32:39Z (GMT). No. of bitstreams: 1 Matheus Carlo Favarin.pdf: 728854 bytes, checksum: 75a864425b03cc6a0728536db2bd2504 (MD5) Previous issue date: 2012-08-13 / Fundo Mackenzie de Pesquisa / The present study aimed to analyze the present stage of institutionalization of the CPC PME by the small and medium enterprises, from the perspective of the Institutions Theory, taking basis the institutionalization stages developed by Tolbert and Zucker (1999). Through a formative construct, it was sought to measure the level of institutionalization of the CPC PME in small and medium enterprises. In order to conduct the empirical research, questionnaires were sent to 1.786 companies from various sectors, which had up to 500 employees, established, mostly, in the region of the state of São Paulo. Among the valid responses, 20 questionnaires had been properly filled. The data was statistically analyzed by descriptive statistics and ANOVA application. The results showed that small and medium size enterprises in Brazil, according to the analyzed sample, are currently concentrated in the institutional habitualization stage, to the extent that there is not a theory of new structures, as well as the adopters are homogeneous. Another key aspect revealed refers to the knowledge level that the respondents held on the subject (CPC PME). The research found that companies adopting the new accounting practices held a high level of knowledge about the structure in comparison with other companies. Such characteristics can be observed, according Tolbert and Zucker (1999), in the institutional habitualization stage. Among the institutional factors that motivate and inhibit the CPC PME adoption, it was found that the legal aspect stand out as the main motivational factor which conducts the company to the CPC PME adoption. The empirical results of this study were presented to two representatives of professional bodies: CRC SP and SESCON-SP, both in Campinas, in order to deepen the discussion. These representatives gave their opinion regarding the number of companies adopting the CPC PME, the organizational characteristics of the small and medium enterprises and the factors that motivate or inhibit the adoption of new accounting practices. In summary, although it is believed that the accounting professional is endowed with consciousness and applied in carrying out their profession, the empirical research shows that accounting rules have not been applied in small and medium enterprises. The reality of the profession has changed: instead of rules, attention to the essence, the managerial vocation and the management. This attributes, without doubt, greater responsibility to the accounting professional and requires a proactive stance. However, the CPC PME is in place for two years and, since few companies have adopted the new practices so far, it is essential that the attitude of the accountants is evaluated. / Este estudo objetiva conhecer o estágio de institucionalização do CPC PME nas PMEs, sob a óptica da Teoria Institucional, com base nos estágios de institucionalização desenvolvidos por Tolbert e Zucker (1999), por meio de um construto formativo. Para tanto, foram enviados questionários para 1.786 empresas de diversos ramos de atividade, com até 500 funcionários e estabelecidas, em grande parte, no estado de São Paulo. Entre as respostas válidas, 20 questionários apresentaram-se devidamente preenchidos, cujos dados foram analisados por meio da estatística descritiva e da aplicação da ANOVA. A análise dos resultados permitiu verificar que as PMEs brasileiras concentram-se atualmente no estágio de institucionalização de habitualização, na medida em que não existe uma teorização sobre as novas estruturas, bem como os adotantes são homogêneos. Outro aspecto fundamental revelado refere-se ao nível de conhecimento que os respondentes detêm sobre o tema (CPC PME). A pesquisa evidenciou que as empresas adotantes das novas práticas contábeis detêm um elevado nível de conhecimento sobre a estrutura em comparação às demais. Tais características, segundo Tolbert e Zucker (1999), remetem ao estágio de institucionalização de habitualização. Entre os fatores institucionais motivadores e inibidores à adoção do CPC PME, verificou-se que o aspecto legal destaca-se como o fator motivacional principal. Os resultados empíricos deste estudo foram apresentados a dois representantes dos órgãos de classe CRC SP e SESCON-SP, ambos de Campinas, com o objetivo de aprofundar a discussão. Esses representantes opinaram acerca do número de empresas adotantes do CPC PME, das características organizacionais das PMEs e dos fatores motivadores e inibidores à adoção das novas práticas contábeis. Em síntese, os resultados deste estudo demonstram que, ainda que se acredite que o profissional contábil seja dotado de consciência e aplicado no cumprimento da sua profissão, as regras contábeis não têm sido aplicadas nas PMEs. A realidade da profissão mudou: no lugar de regras, a atenção à essência, à vocação gerencial e à gestão. Isso atribuiu, sem dúvida, maior responsabilidade ao profissional contábil e exige uma postura proativa. Todavia, o CPC PME vigora há dois anos e, visto que poucas empresas adotaram até então essas novas práticas, é imprescindível que a postura dos contabilistas seja avaliada.

Magister Economicae - MEcon / This study identifies the determinants of sheep prices for small-scale sheep farming households in two districts of the Eastern Cape, namely Amathole and Ukhahlamba (Joe Xabe). Output prices that small farm households receive for their sheep affect their incomes from agriculture (knowing that revenue is a product of quantity and price), which, in turn, influence their living standards. The study isolates three sets of determinants of price formation in local agricultural markets - structural drivers, institutional factors and livelihood shocks - to account for the variations in prices that smallholder farmers receive. Data were collected from 134 households that were selected using purpose sampling and preceded by key informant and focus groups interviews with actors along the sheep value chain. A questionnaire consisting of both open-ended and quantitative questions was used. The relationship between output price formation and clusters of determinants is a typical hedonic pricing framework, which is fitted using a backward stepwise econometric technique that is a widely used experimental tool to identify significant determinants. / South Africa

Titel: Institutionella faktorer, globala överenskommelser och dess samband med företagens hållbarhetsprestation - En studie om korruption, regleringskvalitet och Parisavtalet Nivå: Examensarbete på grundnivå (kandidatexamen) i ämnet företagsekonomi Författare: Josefin Emanuelsson och Jonas Lantto Handledare: Jan SvanbergDatum: 2023 – maj Syfte: Studiens syfte är att undersöka hur länders korruption, regleringskvalitet och Parisavtalet påverkar bedömningen av företagens hållbarhetsprestation. Företagens hållbarhetsprestation har fått ett ökat inflytande för deras legitimitet i samhället. ESG-betyget är både en signal utåt för företagens intentioner och ansvar men är även under kritik för att förenkla ett komplext problem. Tidigare forskning visar att faktorer såsom korruption och regleringskvalitet påverkar företagens hållbarhetsarbetet. Studien vill testa dessa faktorer samt undersöka om det globala Parisavtalet har verkat som en yttre påtryckning för företagens hållbarhetsprestationer.  Metod: Studien har ett positivistiskt synsätt med en tvärkulturell, longitudinell forskningsdesign. Sekundärdatan är inhämtad från Refinitiv, Swiss Economic Institute, The World Bank, samt Worldwide Governance Indicator. Datan bearbetas och analyseras i statistikprogrammet SPSS. Urval består av 772 noterade företag från 23 länder inom Europa med ESG-betyg inrapporterade 2014-2019.  Resultat och slutsats: Studien visar att korruption och regleringskvalitet har ett negativt samband med prestationsbedömningar. Studien bidrar till att visa att ESG-betyg är en legitim strategi för företag att visa sig konkurrenskraftiga efter ratificeringen av Parisavtalet. Studien finner att utvecklingen av helhetsbetyget ESG samt pelaren G har accelererat. Studien finner att E, S och de lågpresterande företagen utvecklas positivt.  Examensarbetets bidrag: Denna studie undersöker hur institutionella faktorer och hur Parisavtalets påverkar företagens hållbarhetsprestation. De flesta av de tidigare studierna har fokuserat på mängden hållbarhetsredovisning istället för hållbarhetsprestation och denna studie bidrar till att bredda forskningsområdet kring hållbarhet och effekterna av reglering. Förslag till fortsatt forskning: Studien föreslår att göra fler undersökningar kring politiska överenskommelser samt följa pelarnas utveckling efter Parisavtalet. Kommer E och S att börja accelerera när implementeringarna av G förankras i organisationerna? Nyckelord: ESG-betyg, hållbarhetsprestation, institutionella faktorer, korruption, regleringskvalitet, Parisavtal och Europa. / Title: Institutional factors, global agreements, and their connection with sustainable performance - A study about corruption, regulator quality and the Paris Agreement Level: Student thesis, final assignment for Bachelor Degree in Business Administration Authors: Josefin Emanuelsson and Jonas LanttoSupervisor: Jan SvanbergDate: 2023 - may Aim: The aim of the study is to examine how a country’s corruption and regulator quality and the Paris Agreements affects the judgment upon the companies sustainability performance. The importance of companies sustainability performances has increased for their legitimacy in society. The ESG-score has become both a signal for the companies intentions as well as responsibility, but has also received criticism for simplifying a complex problem. Earlier research shows that factors like corruption and regulator quality affect the sustainability actions. This study wants to test these factors and if the global Paris Agreements has had an external effect on the performance. Method: The study has a positivism-philosophical approach with a cross-cultural, longitudinal research design. The secondary data is obtained from Refinitiv, the Swiss Economic Institute, the World Bank and the Worldwide Governance Indicator. The data is processed and analysed in the statistical program SPSS. The selection consists of 772 listed companies from 23 countries within Europe with ESG ratings reported in 2014-2019. Results and conclusions: The study shows that corruption and regulator quality have a negative correlation with the companies sustainability performances. The study finds that ESG-scores are a legitimacy strategy to show competitiveness after the ratification of the Paris Agreements. The study finds that the development of the total ESG-score and the G-pillar has accelerated. The study also shows that the E-, S-pillar and low performing companies have a continued positive development. Contribution of the thesis: This study addresses the effects on firm-level ESG-performance based on the differences in the country-level variables corruption and regulatory quality. In addition, this study also examines the effects of the Paris agreements. Prior studies have mostly focused on the connection between country-level variables and ESG-disclosure and this study contributes to broadening the research area regarding sustainability and the effects of regulation. Suggestions for future research: Future studies should examine the further development of the different pillars post the Paris agreements and the possible effects on firm ESG-performance in case of any new global agreements.Key words: ESG-Score, ESG-performance, institutional factors, corruption, regulatory quality, Paris Agreements and Europe. Key words: ESG-Score, ESG-performance, institutional factors, corruption, regulatory quality, Paris Agreements and Europe.

Antalet hemlösa EU-migranter har på senare år ökat kraftigt i Sverige, och närmare hälften av dem saknar inkomstkälla helt medan många andra försörjer sig genom tiggeri. Numera måste individer förutom att ta ställning till huruvida de ska ge pengar till etablerade välgörenhetsorganisationer även besluta om de ska ge pengar till tiggande EU-migranter. Utifrån antagandet att det existerar asymmetrisk information, och institutionella faktorer som kan påverka individers givande till respektive typ av välgörenhet är det intressant att undersöka om det finns skillnader i benägenheten att ge till tiggande EU-migranter jämfört med etablerade välgörenhetsorganisationer.Forskningsstudiens huvudsakliga syfte är att undersöka benägenheten hos individer att ge pengar till tiggande EU-migranter jämfört med etablerade välgörenhetsorganisationer. Vidare är syftet också att identifiera och analysera olika individspecifika egenskaper som tänkbart påverkar individers givande till respektive typ av välgörenhet. För att besvara syftet samlas primärdata in i Linköpings stad genom en enkätundersökning och analyseras sedan med hjälp av ekonometriska verktyg.Forskningsstudiens resultat indikerar att individer generellt är mindre benägna att ge pengar till tiggande EU-migranter jämfört med etablerade välgörenhetsorganisationer. De egenskaper som har betydelse för att förklara individers givande till tiggande EU-migranter är kön, ålder, härkomst, kunskap om tiggande EU-migranters livssituation och inställning till lagförslag att förbjuda tiggeri. I jämförelse till detta har ålder, utbildning, härkomst, äktenskap och sociala faktorer betydelse för att förklara givandet till etablerade välgörenhetsorganisationer. / In recent years, the number of homeless EU migrants has increased substantially in Sweden, and almost half of them lack an income whereas many others live by begging. Nowadays, individuals in addition to decide whether to give money to established charities also have to decide whether to give money to begging EU migrants. Based on the assumption that asymmetric information and institutional factors exists, which can affect each type of willingness to donate to charity, it is interesting to investigate whether there are differences in propensity to give money to begging EU migrants compared to established charities.The purpose of the research study is to examine individual’s propensity to give money to begging EU migrants compared to established charities. Furthermore, the aim is also to identify and analyze various individual characteristics that conceivably affect individuals' donation to each type of charity. To answer the purpose of the research study primary data is collected in Linkoping city by a questionnaire and the material is analyzed with econometric models.The results of the study indicate that individuals generally are less likely to give money to begging EU migrants compared with established charities. Variables that affect individuals' willingness to give money to begging EU migrants are gender, age, descent, knowledge of begging EU migrants living situation and attitude towards banning begging. Compared to this, factors that affect the willingness to donate to established charities are age, education, descent, married and social factors.

This paper investigates the factors that influence in the drop-out of university students, of the first cycle of distance education belonging to the administration school of the university Lord of Sipán, between 2011-I to 2013-I. It addresses the individual, socio-economic, academic and finally institutional factors.Among the individual factors, the one that most influenced the drop-out was the lack of time dedicated to the study (53% of the total respondents). With regard to socio-economic factors such as: employment status, salaries received, dependents, etc. none of them influenced student dropouts (79.3% of all respondents). Among institutional factors such as: care received, administrative support, virtual environment, etc. did not influence desertion. Finally, academic factors such as: conformity with curriculum, training received, etc., were not relevant in desertion. / En el presente trabajo se investiga los factores que influyen en la deserción de los estudiantes universitarios del primer ciclo de educación a distancia, pertenecientes a la Escuela de Administración de la Universidad Señor de Sipán, entre los semestres 2011-I y 2013-I. Del mismo modo se aborda los factores individuales, socioeconómicos, académicos y finalmente los institucionales.Dentro de los factores individuales, el que más influyó en la deserción fue la falta de tiempo dedicado al estudio (53% del total de encuestados). Respecto a los factores socioeconómicos, como situación laboral, sueldos percibidos, personas a cargo, etc., ninguno de ellos influyó en la deserción de la mayoría de estudiantes (79,3% del total de encuestados). Los factores institucionales como la atención recibida, el apoyo administrativo, el entorno virtual, entre otros, no influyeron en la deserción. Finalmente, los factores académicos, como la conformidad con el plan de estudios, la capacitación recibida, etc., no fueron influyentes para la deserción. / Este trabalho investiga os fatores que influenciam o abandono de estudantes universitários do primeiro ciclo de ensino à distância, pertencentes à escola de administração da universidade Senhor do Sipán, entre 2011-I a 2013-I. Aborda os fatores individuais, socioeconômicos, acadêmicos e, finalmente, institucionais.Entre os fatores individuais, o que mais influenciou o abandono foi a falta de tempo dedicado ao estudo (53% do total de inquiridos). No que diz respeito a fatores socioeconômicos, tais como: status de emprego, salários recebidos, dependentes, etc. nenhum deles influenciou o abandono escolar (79,3% de todos os entrevistados). Fatores institucionais, tais como: cuidados recebidos, suporte administrativo, ambiente virtual, etc. não influenciou a deserção. Finalmente, fatores acadêmicos, tais como: conformidade com currículo, treinamento recebido, etc. não eram relevantes em deserção.

The Doctoral Thesis "Analysis of Trade Relations between the European Union and Latin America from 1995-2011" focuses on the determination Latin America's potential as a trading partner for the European Union. It will be based on an analysis of the region's trade relationships between 1995 and 2011 through different econometric models and a macroeconomic analysis. It will make recommendations for improving economic relation policies with Latin America and the European Union as well as identify the sectors which could represent great potential for trade between both regions. The research is divided into seven chapters: The first chapter covers international trade theory; this part comprises the theoretical aspects directly related to international trade. The second chapter analyzes the macroeconomic features of Latin American countries and compares them with data from the European Union. A separate, detailed analysis of 17 Latin American countries was performed and the potential of each one to make their importance known to the world and define their geopolitical position is described. The third chapter details the trade policies of the European Union and Latin America. The fourth chapter discusses trade relations between Latin America and the European Union through a look at the trade agreements that have been signed between the European Union and Latin American countries and tries to identify possible causes of failures for agreements not signed. This chapter also studies the sectorial composition of trade between the two regions, emphasizing the asymmetry between these trades flows as they enter the countries studied. The fifth chapter, the heart of this research paper, analyzes the trade relations between the EU and Latin America through a gravity model, identifying the obstacles and barriers to international trade between the two regions. The second part of this chapter discusses institutional factors, which, as a result of the conclusions from the gravity model explained earlier in the chapter, play an important role in international trade between Latin America and the European Union. This section contains a comparative analysis of the situation of the institutional factors in the 29 Latin American countries which were analyzed in the gravity model. This chapter also includes a trade simulation between the Czech Republic and Latin America with the institutional factors in Latin America showing a 10% improvement. In the sixth chapter, the competitiveness of 17 Latin American countries is calculated using the results of the barriers to international trade through a new method based on the comparison of indicators, ranked by dimension and according to the weight thereof for a period of time. The last chapter focuses on the identification of the variables determining foreign direct investment in Latin America, represented by 29 countries and over a period of time from 1995 to 2011. It considers variables traditionally not considered such as the number of patents registered, the tax rate and institutional factors, which have revealed important explanatory variables as well as those traditionally considered such as GDP, inflation, population, the share of GDP by sector, income level, etc. The last part of this research lists the conclusions reached and proposes recommendations for economic relations policy development between Latin America and the European Union.

The purpose of this study was to explore what institutional factors affect retention and student success at a Florida public, 4-year university for commuter students. This study included institutional factors controlled by the university that affect retention with students who commute to the institution. Commuter students compose over 80% of enrollment at the nation’s college and university campuses. This mixed-method study included both a survey and focus groups. In the first part of the study, quantitative data were collected, using the Noel-Levitz Student Satisfaction Inventory (SSI). The survey analysis of the data collected using the SSI indicated that the scores for the scales were not statistically significant in determining whether or not a student would choose the university again. In the second part, focus groups were conducted to better understand student satisfaction with the institutional factors. Four main themes emerged from data analysis: (a) location and other reasons to attend the institution, (b) connectedness to the institution, (c) institutional factors that assist with progression toward degree, and (d) obstacles to graduation. Four major conclusions were addressed: students who participated in this study had higher levels of satisfaction with library services and academic advising services than with other institutional factors, commuter students were not participating in student organizations or social activities on campus because they needed to balance external obligations with their academic careers, that students in the focus groups appeared to have an instrumental view of their college experiences and are focused on what they needed to do to complete course and degree requirements, and commuter student desired to have increased regular interactions with faculty teaching courses in their major fields. In conclusion, because commuter student are the majority population on many campuses, college administrators and faculty will need to continue providing opportunities for commuter student engagement and academic success.

PhD (Agricultural Economics) / Department of Agricultural Economics and Agribusiness / Climate change is a global phenomenon that has been of great concern and its tackle is of outmost importance for food security among other things. In response to climate change adaptation, the study intended to determine awareness of climate change, its critical determinants and impacts among farmers, particularly emerging farmers. The study also investigated socio-economic characteristics of farmers that play a vital role in selection of various adaptive strategies, furthermore, institutional factors that contributed in emerging farmers’ decision to either adapt or not to climate change were also investigated. The main aim of the study was to develop a model that could be used in future to enhance adaptation to climate change through various identified adaptive strategies in Limpopo province of South Africa. The study was conducted in five districts of Limpopo province, namely: Capricorn, Mopani, Sekhukhune, Vhembe and Waterberg. The study made use of structured questionnaire to collect data from 206 emerging farmers. A two-stage cluster sampling technique was employed to select participants of the study. Statistical Package for the Social Sciences (SPSS; version 25, 2017) was used to analyse the data; cross-tabulation, multinomial and binary logistic models were used for analysis. Preliminary descriptive statistics results from cross-tabulation indicated that farmers were aware of climate change; had noted various critical determinants of climate change and were aware of impacts of climate change during production seasons between 2014 and 2018. Using Multinomial Logit model, further analysis indicated that there are socio-economic characteristics that significantly influenced selection of various adaptive strategies among farmers. Variables that significantly influenced selection of various adaptive strategies were household size, farming experience, formal education, occupation, gender and monthly on-farm income. The study also discovered that institutional factors such as accessing different kinds of extension services, securing source of support and accessing climate change information such as weather forecast, positively and significantly influence farmers’ decision to adapt to climate change. Recommendations of the study were that there should be capacity building in a form of training programmes that promote climate change awareness as farmers need to be capacitated to enable them to take strategic decisions on a daily basis. Furthermore, it was also recommended that training of farmers should target illiterate farmers and farmer without off-farm occupation and specific needs of farmers should be taken into consideration when initiating adaptation initiatives as adaptation to climate change is best monitored at farm level. The study also recommended that various stakeholders such as community of practice, climatologists, and agro-meteorologists should provide various support to emerging farmers to improve farmers’ resilience towards climate change through adaptation. / NRF

This thesis sheds light on the functioning and characteristics of payment systems to serve as a foundation for understanding the drivers for higher payment system efficiency. Its central goal is to develop insights into the determinants of collective payment choice suitable to lower payment costs to society. So far, the institutional environment, as potential important influence on the payment instrument mix, has not been focused on in the literature. Therefore, particular emphasis is laid on the empirical analysis of the impact of institutional factors on the share of card payments on consumer spending at the point of sale (POS). For this, a unique panel data set is constructed covering the eight most important European payment markets ranked by non-cash transaction volumes. The empirical results allow formulating conditions necessary to achieve a more efficient payment mix. They also form a basis for the assessment of related policy measures with a focus on the SEPA project in terms of their efficiency enhancing effect. Future research could possibly build upon the panel data collected.

This thesis sheds light on the functioning and characteristics of payment systems to serve as a foundation for understanding the drivers for higher payment system efficiency. Its central goal is to develop insights into the determinants of collective payment choice suitable to lower payment costs to society. So far, the institutional environment, as potential important influence on the payment instrument mix, has not been focused on in the literature. Therefore, particular emphasis is laid on the empirical analysis of the impact of institutional factors on the share of card payments on consumer spending at the point of sale (POS). For this, a unique panel data set is constructed covering the eight most important European payment markets ranked by non-cash transaction volumes. The empirical results allow formulating conditions necessary to achieve a more efficient payment mix. They also form a basis for the assessment of related policy measures with a focus on the SEPA project in terms of their efficiency enhancing effect. Future research could possibly build upon the panel data collected.:1 Introduction 1.1 Payment behaviour in selected European countries 1.2 Research question and approach 2 Foundations: Payment systems and markets 2.1 Functioning of payment systems 2.1.1 Payments, market participants and payment system 2.1.2 Payment instruments and methods 2.1.3 Clearing and settlement arrangements 2.1.4 First observations on obstacles to payment systems development 2.2 Network character of payment markets 2.2.1 Theories of networks 2.2.2 Demand-side network effects in payment markets 2.2.3 Two-sided markets and payment cards 2.2.4 Supply-side economies of scale and open access to infrastructure 2.2.5 Obstacles to payment system development 3 Efficiency of payment systems 3.1 Research on payment infrastructure costs 3.1.1 Efficiency of interbank retail payment systems 3.1.2 Efficiency of intrabank payment processing 3.1.3 Factors influencing infrastructure efficiency 3.2 Research on payment instrument costs at the POS 3.2.1 Methodology and classification of the literature 3.2.2 Estimates of payment costs at the POS 3.2.3 Indicative efficiency ranking of payment instruments 4 Research on payment instrument choice at the POS 4.1 Data sources and categorisation of payment choice determinants 4.2 Price characteristics of payment instruments 4.3 Non-price characteristics of payment instruments 4.4 Transaction attributes 4.5 Constraints on payment choice 4.6 Developing an institutional view of payment choice 5 Empirical analysis: Institutional determinants shaping the POS payment mix 5.1 Two-step modelling approach 5.2 Panel construction and exploration of key data series 5.2.1 Panel data collection and overview of variables 5.2.2 Card usage and cash holding 5.2.3 Payment card diffusion and POS terminal density 5.3 European card schemes and markets 5.3.1 Institutional data collection 5.3.2 Description of European card markets 5.3.3 Overview of institutional data series 5.4 Payment decision 5.4.1 Development of the model and possible extensions 5.4.2 Discussion of the regression results 5.4.3 Diagnostic tests 5.5 Sourcing decision 5.5.1 Diffusion of payment cards 5.5.2 Density of POS terminals 5.5.3 Cash holding and availability at ATMs 5.6 Conclusions: Institutional determinants of payment choice 5.6.1 Linking empirical and theoretical analysis 5.6.2 Route for further research 6 Prospects for an efficient European payment mix 6.1 Objectives for establishing a European payment markets 6.2 SEPA for cards regulatory framework 6.2.1 Regulatory ecosystem 6.2.2 Regulatory framework set by European authorities 6.2.3 Standardization industry initiatives 6.3 Remaining obstacles for an efficient payment mix and outlook Appendix 6.3.1 A–1: Credit- and debit-based payment mechanism 6.3.2 A–2: Multilateral settlement: Access, settlement assets and methods 6.3.3 A–3: Statistical properties of variables 6.3.4 A-4: Unit root tests References