The diploma thesis investigates causes and progression of the mortgage crisis beginning in 2006 in the United States. Theoretical part of the thesis explains general causes of economic crises in accordance with the Austrian theory of the business cycle. Some of the basic problems of nonmonetary business cycle theories are mentioned and the most common ABCT attacks refuted. Analytical part of the thesis tries to explain why the current business cycle appeared primarily in the form of mortgage crisis. For this reason institutions playing the main role in the American mortgage market are being analysed including Federal Reserve System, government-sponsored enterprises, and three biggest rating agencies Moody's, Standard & Poor's and Fitch Ratings. Thesis conclusion should answer the question why and how the mortgage crisis originated in the United States.

Can pay-for-performance increase the motivation of public employees? By providing a basis for personnel decisions, particularly linking rewards to performance, performance appraisals aim to increase employees' work motivation and ultimately to improve their work performance and organizational productivity. With the emphasis on results-oriented management, performance appraisals have become a key managerial tool in the public sector. Critics charge, however, that pay-for-performance is ineffective in the public sector, largely because the link between performance and rewards is weak. However, no one has empirically measured the strength of the linkage. If performance ratings do have an impact on career success in the federal service, they might contribute to race and gender inequality. Although many studies have examined factors affecting gender and racial differences in career success, studies that try to connect gender and racial inequalities to managerial tools are scarce. Using a one percent sample of federal personnel records, the first essay examines the impact of performance ratings on salary increases and promotion probabilities, and the second essay explores whether women and minorities receive lower ratings than comparable white males, and women and minorities receive lower returns on the same level of performance ratings than comparable white males. The first essay finds that performance ratings have only limited impact on salary increases, but that they significantly affect promotion probability. Thus, the argument that performance-rewards link is weak could be partially correct, if it considers only pay-performance relationships. The second essay finds that women receive equal or higher performance ratings than comparable white men, but some minority male groups, particularly black men, tend to receive lower ratings than comparable white men. On the other hand, the returns on outstanding ratings do not differ between women and minority male groups and white men, though women groups seem to have disadvantages in promotion with the same higher ratings as comparable men in highly male-dominant occupations.

Magistro baigiamajame darbe išanalizuota ir įvertinta valstybių kredito reitingų suteikimo metodologija, šio proceso kritika, pateikti pasiūlymai esamoms problemoms spręsti. Atlikta koreliacinė, regresinė, pagrindinių komponenčių analizė ir pasinaudojus trijų Baltijos šalių – Lietuvos, Latvijos ir Estijos, pavyzdžiu surasti trys atskiri modeliai, tiksliausiai prognozuojantys minėtų valstybių kredito reitingus, remiantis makroekonominiais rodikliais. Pirmoje darbo dalyje teoriniu aspektu nagrinėjama kredito reitingo samprata, jo reikšmė finansų rinkoms, apibrėžiamos priežastys, lemiančios kredito reitingų trūkumus ir pateikiami tobulinimo siūlymai. Antroje dalyje analizuojamos trijų pagrindinių kredito reitingo agentūrų – Standard and Poor‘s, Fitch ir Moody‘s valstybių kredito reitingo suteikimo metodologijos, tiriama mokslinė literatūra, nagrinėjanti kredito reitingo priklausomybę nuo makroekonominių rodiklių, pateikiamas tyrimo modelis, nagrinėjamos su juo susijusios problemos, apibrėžiama darbo eiga. Trečioje dalyje sudaromos tiesinės daugianarės regresijos lygtys, naudojamos prognozuoti Lietuvos, Latvijos ir Estijos kredito reitingą, atliekamas ateities kredito reitingų prognozavimas remiantis faktiniais 2012 m. IV ketvirčio duomenimis ir numatomais scenarijais. / Master's Work analyzed and evaluated methodology of sovereign credit ratings, the critique of the process itself and proposed solutions for existing problems. Correlation, regression and principal components analysis were used to determine distinct models for the three Baltic states – Lithuania, Latvia and Lithuania, that accurately predicts future credit ratings based on macro-economic indicators. The first part examines theoretical aspect of the concept of credit rating, its value to the global financial markets, defines the causes of the credit rating errors, presents possible solutions for the failures of credit ratings. In the second section methodologies used by Standard and Poor's, Fitch and Moody's to determine sovereign credit ratings are analyzed, scientific literature on the dependence of credit rating and macro-economic indicators are examined, research model and problems associated with it are presented, workflow is defined. In the third part linear multiple regression equations are derived which are used to predict future credit ratings of Lithuania, Latvia and Estonia, future credit ratings predictions are carried out based on actual year 2012 fourth quarter data and future scenarios.

Seeking to identify and further understand the variables considered when ranking specialty programs in colleges of education, this research study surveyed all deans, and associate deans responsible for graduate education, at United States institutions that offer the terminal degree in at least one of the ten education specialty areas. The study utilized a three-dimension model of brand equity from the marketing literature, which included the elaboration likelihood model of persuasion. Descriptive statistics determined that research by the faculty of the specialty program is the variable most widely considered by deans and associate deans when determining reputation. In order to determine what predicts a person's motivation to correctly rank programs, a principal components analysis was utilized as a data reduction technique, with parallel analysis determining component retention. The model identified five components which explained 66.224% of total variance. A multiple regression analysis determined that characteristics of a specialty program was the only statistically significant predictor component of motivation to correctly rank programs (β = .317, p = .008, rs2 = .865); however, a large squared structure coefficient was observed on perceived quality (rs2 = .623). Using descriptive discriminant analyses, the study found there is little evidence that marketing efforts have differing effects on groups. Further, a canonical correlation analysis that examined the overall picture of advertising on different groups was not statistically significant at F (15, 271) = .907, p = .557, and had a relatively small effect size (Rc2 = .099).

The thesis focuses on the dependence of price and building period of selected construction on the technology of the certain object. Three different technologies are being compared regarding the supporting structure of the bridge. The first two technologies consider girder prefabs and the third technology involves a monolithic support plate. The technological method no. 1 is implemented through assembling of the girders via conveyor line with the assistance of mobile cranes; the method no. 2, on the other hand, implies the whole assembly from below the bridge also using mobile cranes. The method no. 3 is monolithic – the wooden basis is covered with concrete layer. The dependence of construction time and price is carried out by the comparison of methodologies through budgets, schedules, multi-criteria ratings and economic ratings.

The financial stability of banks is crucial if they are to fulfil their role in facilitating transactions between borrowers and lenders. The purpose of this study was to investigate the effect of credit risk on the South African banking industry following a movement in credit ratings by rating agencies. Data from a sample of 11 banks were collected from 2006 to 2015. Econometric regression analysis was used to analyse the data. The results show that inflation, credit ratings, exchange rate, gross domestic product, unemployment rate, capital adequacy ratio and size of the bank are significant factors that determine "non-performing loans". Therefore, it is imperative that banks continuously monitor these factors and adapt their credit policies on "non-performing loans". This action would prepare banks for any adverse effects and ensure that the banking industry remains a sound and efficient contributor to the growth of the South African economy. / Business Management / M. Com. (Business Management)

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Because the nature of municipalities differs from that of commercial institutions, norms and standards for the determination of creditworthiness are also different. Although various documented models and studies addressing credit rating related issues in the commercial sector are available, no objective model for determining the creditworthiness of municipalities has been published in South Africa. This model has been developed specifically for the determination of the creditworthiness of municipalities and is based on objective standards. All the indicators applied in the model are calculated objectively. The net product of the model is therefore a numerical figure indicating creditworthiness at a specific time. The model shows the numerical composition of the figure, and specific indicators or norms of interest can be studied in greater detail. The model has the following unique features: • It calculates a numerical value, representing the creditworthiness of a municipality. • The determination of the creditworthiness figure is objective. • Trends are calculated and form part of the calculation of the creditworthiness figure. • The model is parameter-driven - by merely changing the values in the parameter file, all the calculations are changed accordingly. • The creditworthiness figure from the model does not claim to be an absolutely accurate representation of the creditworthiness of a municipality, but claims to be accurate enough (80/20 principle) to form a basis for reliable and effective management decisions. This model is the first in South Africa. to offer a means of determining the creditworthiness of municipalities objectively. It is a simple model which is based on the elements representing creditworthiness. / Accounting / D. Comm. (Accounting)