El presente trabajo de investigación tiene como objetivo desarrollar un modelo de rating que permita mejorar la gestión del riesgo de crédito de las operaciones crediticias de los deudores de medianas empresas (según el tipo de crédito definido por la Superintendencia de Banca, Seguros y AFP), y complementar la evaluación cuantitativa y cualitativa que realiza el funcionario de créditos. Además, el modelo de rating permite determinar la probabilidad de incumplimiento de pago durante el año posterior al momento de evaluar a los deudores de medianas empresa en base a la información de sus características, comportamiento de pago y estados financieros, otorgándole una visión prospectiva, y finalmente segmentarlos según su nivel de riesgo. Al respecto, se elaboró un modelo de rating para deudores de medianas empresas, que se basa en un modelo de regresión logística con 8 variables, que permite discriminar a los deudores que cumplen sus pagos respecto a los que incumplen sus pagos. Dicho modelo cuenta con niveles adecuados de predicción y discriminación tanto en la muestra de construcción como en la de validación. Asimismo, en función de los resultados del modelo, se clasificó a los deudores de medianas empresas en grupos según su nivel de riesgo, y en base a esta segmentación se pueden tomar mejores decisiones en la gestión de riesgo de crédito. / The objective of this research paper is to develop a rating model that allows to improve the management of the credit risk of the credit operations of the debtors of medium-sized companies (according to the type of credit defined by the Superintendency of Banking, Insurance and AFP), and complement the quantitative and qualitative evaluation carried out by the loan officer. In addition, the rating model makes it possible to determine the probability of payment default during the year after the time of evaluating the debtors of medium-sized companies based on information on their characteristics, payment behavior and financial statements, giving it a prospective vision, and finally segment them according to their risk level. In this regard, a rating model was developed for debtors of medium-sized companies, which is based on a logistic regression model with 8 variables, which allows us to discriminate between debtors who make their payments with respect to those who default on their payments. This model has adequate levels of prediction and discrimination in the development sample and in the validation sample. Likewise, based on the results of the model, debtors of medium-sized companies were classified into groups according to their level of risk, and with this segmentation, better decisions can be made in credit risk management. / Trabajo de investigación

Background: The credit rating agencies have been heavily contested and criticized. In addition to this, other informational sources may potentially deliver the information that the CRA is intended to provide. This may have changed their role in reducing information asymmetry in the financial market. Purpose: This thesis will investigate (i) whether changes (upgrade/downgrade) in credit ratings lead to abnormal returns in share value, and thereby provide useful information to potential and current investors. The thesis will also (ii) examine whether there are significant differences between the periods before and after the GFC in 2008. Method: Regression based event study using a dummy-variable approach. Conclusions: No strong evidence that credit ratings have a significant effect on stock prices in the European stock market. Small indications that the market is responding more strongly to a rating change announcement during the period 2000-2008 compared to 2009-2019.

for diploma thesis: Possible Relationship between Other-Rated and Self-Rated Vocal Quality in Body-Image concept Petra Stolařová The aim of this study was to investigate whether it is possible to consider voice as a part of Body-Image concept. We examined the perception of one's own voice and its affect on individual's personality and behavior. In addition, we decided to examine this fact in two culturally different samples - Czech and Brazilian. We collected comparable vocal recordings in both cultures - two recordings of singing and two recordings of speech, we also collected questionnaire data regarding perception of one's own voice and singing, scores of seciosexuality and additionaly in the Czech sample we collected self-reported self-esteem. Subsequently, we collected attractiveness ratings of these vocal recordings by independent raters within the two chosen cultures. Using statistical methods, we found that the rated and self-rated voice quality (both speech and singing) partially correlated, but these correlations differed in relation to gender, and population. The Czech sample revealed that neither self-rated nor other-rated quality of voice had affect on self-esteem. Also, it appears that self-rated quality of singing has an impact on sociosexuality in Czech women and Brazilian men,...

京都大学 / 0048 / 新制・課程博士 / 博士(情報学) / 甲第20029号 / 情博第624号 / 新制||情||108(附属図書館) / 33125 / 京都大学大学院情報学研究科社会情報学専攻 / (主査)教授 石田 亨, 教授 矢守 克也, 教授 喜多 一 / 学位規則第4条第1項該当 / Doctor of Informatics / Kyoto University / DFAM

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The 2007/2008 financial crisis and the role that credit rating agencies (CRA’s) played leading up to the crisis precipitated the introduction of CRA regulation worldwide. By using Giddens’s (1990. 1991) theory of modernity as a framework, this study explores the rationale for the introduction of CRA regulation in South Africa (the Credit Rating Services Act No. 24 of 2012), with a specific focus on trust and legitimacy. The findings in this study suggest that while the introduction of new regulation is a mechanism used to legitimise the capital system, it often has limitations and unforeseen consequences. This study used detailed interviews with some of South Africa’s leading experts on the credit rating industry to explain the reasoning for South African CRA regulation. Lastly, this thesis adds to the scant body of interpretive (and normative) research on the use of arms-length regulation in modern governance discourse, and it is also the first research to explore CRA regulation in the South African context.

Privata kreditvärderingsinstitut publicerar, i egenskap av en oberoende tredje part, kreditbetyg som är ämnade att motarbeta informationsasymmetrier mellan investerare och emittent. På grund av issuer-pays modellen, den oligopolistiska strukturen av kreditvärderingsmarknaden samt kreditvärderingsinstitutens vinstdrivande affärsmodell hotas värderarens oberoende ställning och kapacitet att utföra och publicera de mest högkvalitativa, träffsäkra analyser. Detta arbete sammanställer befintliga studier kring ämnet samtidigt som den bidrar genom att utforska eventuella förslag att åtgärda de befintliga problemen i dagens system genom att antingen endast låta kreditvärdering att utföras av offentliga sektorn eller att tillgodose en övervakande myndighet uppdrag att betygsätta kreditvärderingsinstitutens kvalité. Betygsättning av kreditvärderingsinstitutens insatser kan komma att motverka förekomsten av rating catering, medan ett förbud mot privata kreditvärderingsinstitut skulle eliminera konkurrens som bidragande faktor till intressekonflikter och ratinginflation. Däremot medför båda förbättringsförslag egna risker och genomförbarheten av förslagen är ett stort frågetecken som måste studeras i större omfattning. / Credit rating agencies, operating as an independent third-party, publish credit ratings with the objective of counteracting information asymmetry between investor and investee. Due to the issuer-pays model, the oligopolistic structure of the credit rating market and the credit rating agencies’ profit-seeking business strategy, the independent nature of the credit rating agency is threatened. This paper deems to compile current theory on this topic while also furthering the discussion by proposing the examination of two alternative solutions: only allowing for credit rating to be carried out by the public sector, or giving a overseeing entity the assignment of publishing grades which distinguish between different agencies by way of credit rating quality. Grading credit rating agencies could likely hinder the presence of rating catering, meanwhile banning private credit rating agencies completely in favor of public sector alternatives eliminates the conflict of interest and rating inflation that originates from the presence of competition in this market. Both suggested solutions bear with them risks of their own, while also requiring further studies into the feasibility of the aforementioned suggestions in the current market.

The problem of this study was to determine the relationship between the effectiveness of student teachers as measured by student ratings and situation-specific anxiety toward the act of teaching. Data for the study were obtained by the use of the Teacher Anxiety Scale and the Student Evaluation of Teaching Scale. The statistical evidence does not justify a conclusion that there is a relationship between the effectiveness of student teachers as measured by student ratings and situation-specific anxiety of student teachers toward the act of teaching. The statistical evidence does not support the conclusion that pupil ratings of student teachers are significantly affected by the student teacher's level of anxiety, sex, or teaching level. Furthermore, there is no statistical evidence given by the study that there is a significant difference in situation-specific anxiety among student teacher groups (Elementary or Secondary) according to sex or level of student teaching.

Empirical findings on Behaviorally Anchored Rating Scales (BARS) have been mixed, despite early researchers' claims that BARS were superior to trait ratings and in reliability and resistance to leniency, central tendency, and halo. The study presented compared a BARS format to an independently derived trait scale as measures of secretarial and clerical performance. Though the BARS showed slightly inflated mean ratings, the instruments showed nearly identical variability. Neither demonstrated sufficient resistance to halo. Thus, despite their intuitive appeal and the rigors involved in format development, it did not appear in this instance that BARS were an efficient and psychometrically superior alternative to the traditional trait rating format.

Declining enrollments and continuing tuition increases are having major impact on all universities. It is a commonly accepted fact that the quality of a university can be directly related to the quality of its faculty. With this assumption in mind, a university must then determine the best method for evaluating the teaching effectiveness of its faculty members. The study is an examination of certain student characteristics that might affect the attitudes of students when evaluating instructors. Seven individual student characteristics (sex, age, academic level, major, nationality, teaching preference and leadership experience) were examined to determine if there was any relationship between these characteristics and the student's attitude toward the instructor evaluation process. In addition, the responses obtained in the study were compared to those in similar studies previously conducted at Kansas State University and the University of Southern California. The research population consisted of 567 students enrolled at Florida Institute of Technology, Melbourne, Florida. Students who participated in the research were enrolled in courses offered by the Management Department and they were requested to evaluate their instructor at the completion of each course. The data for the study were obtained from a 27-item questionnaire titled Student Attitude of Evaluation Questionnaire. Ten of the items related to demographic data and 17 items related to student attitudes toward different aspects of the evaluation process. Information from the returned questionnaires was evaluated and tabulated utilizing the SPSS/PC program Analysis of Variance: Procedure ANOVA. An analysis of variance at the .05 level of significance was employed to examine the research questions. On an overall basis, there was no significant difference in students' attitudes toward the evaluation system based on individual student characteristics. However, the research did reveal some significant differences on individual items, i.e., one group feeling much stronger about a particular issue than another group. It was concluded from the research that students are strongly in favor of student evaluation of instructors, especially female students and lower-level undergraduate students.