Banks advance loans in the absence of precise knowledge in relation to the outcome of borrowers’ projects. Consequently, uncertainty in relation to loan repayment emerges. Thus, banks introduce the ‘credit standard’ as insurance against loans, so that should borrowers’ projects fail, borrowers have an alternative means of honouring their debt obligations. It is argued in this paper that in the ...

subtheme: The future of cities in the knowledge age 1. Introduction A lot has been talked about the knowledge society and the impact of knowledge on the structure of a society 's economy. But a society is always located somehow – it does not exist in a vacuum. Are there specific places for the knowledge society? And what effects these places have on the economic and social development of the so...

This paper empirically examines the effects of the Federal Reserve’s Large Scale Asset Purchases (LSAP) on bank profits. We use a new dataset on individual LSAP transactions and bank holding company data from the Fed’s FRY-9C regulatory reports to construct a large panel of banks for 2008Q1 to 2009Q4. Our results suggest that banks that sold Mortgage-backed Securities to the Fed (“treatment ban...

WH AT T H I S C O M P E T E N C Y E N TA I L S The Healthcare Leadership Alliance (HLA) defines this competency as “the demonstrated understanding of the health care system and the environment in which health care managers and providers function.” According to HLA’s research, this competency involves 18 areas that are particularly important for healthcare leaders to master. These areas can be o...

The analogy between the physical world and that of knowledge enables us to speak of the “knowledge environment” and discuss various environmental problems of great significance. However, analogies can be misleading if they are not based on systemic relationships. In this paper we take the three worlds, physical, mental, and world 3, as defined by Popper, and analyze them in a common systemic fr...

Ongoing transition of most of business enterprises to knowledge-based ones is a watershed event in the evolution of the global knowledge economies. This transition marks a paradigmatic shift from energybased economies with traditional factors of production to information-based economies based upon knowledge assets. Accordingly, the objective of this paper is to develop a theoretical and pragmat...