Andrew Blake, Robert Robinson, Alex Rovira and Charles Sommers
To alert financial market participants to rules jointly proposed by the US Securities and Exchange Commission (SEC) and US Federal Deposit Insurance Corporation (FDIC) regarding…
Abstract
Purpose
To alert financial market participants to rules jointly proposed by the US Securities and Exchange Commission (SEC) and US Federal Deposit Insurance Corporation (FDIC) regarding orderly liquidation of certain large broker-dealers as mandated in Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank).
Design/methodology/approach
Explains how typical broker-dealer liquidations are generally effected, the alternative of determining a broker-dealer to be a “covered broker-dealer” to be liquidated through an orderly liquidation proceeding under Title II of Dodd-Frank, the appointment of the FDIC as receiver and Securities Investor Protection Corporation (SIPC) as trustee, the requirement for the SIPC to file a protective decree with a federal district court, the possible use of “bridge broker-dealers” to facilitate an orderly liquidation, the FDIC’s procedures for settling claims of customers and other creditors against covered broker-dealers, and additional proposed provisions for administrative expenses and unsecured claims.
Findings
Counterparties of broker-dealers that could be subject to an orderly liquidation proceeding should evaluate the proposal and consider whether, if adopted, the rules would require any changes to credit risk or other internal procedures. Large broker-dealers that could be the subject of such an orderly liquidation proceeding should do the same. Although the formal comment period has closed regarding the proposal, market participants that did not submit comments but who still wish to influence final rule making should still consider submitting written comments to the SEC and FDIC or otherwise advocating before them.
Originality/value
Practical guidance from experienced securities and financial services lawyers.
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Alex Coad, Peter Bauer, Clemens Domnick, Peter Harasztosi, Rozália Pál and Mercedes Teruel
The authors explore how did the COVID shock hit European firms at the upper quantiles (high-growth superstars) and the lower quantiles (rapidly declining firms).
Abstract
Purpose
The authors explore how did the COVID shock hit European firms at the upper quantiles (high-growth superstars) and the lower quantiles (rapidly declining firms).
Design/methodology/approach
The authors analyze the European Investment Bank Investment Survey (2016–2020). This exploratory paper applies graphical techniques and quantile regression to evaluate the COVID shock along the growth rates distribution.
Findings
Regarding growth of sales and growth of value added, COVID had a negative effect on growth across the growth rates distribution. The negative COVID effect is larger at the lower quantiles. Employment growth shows no effect for many firms that have zero employment growth, but at the extreme quantiles, the authors can observe that some declining firms were adversely affected by COVID. For labour productivity growth, the COVID effect is small. Analysis of subsamples, and quantile regressions with interaction terms, emphasize that firms receiving policy support were relatively strongly affected by COVID, consistent with interpretations that COVID policy support was reaching the intended recipients. Finally, fully digitalized firms may have been somewhat shielded from the harmful effects of COVID.
Originality/value
First, previous studies have focused on the average effect of COVID on the growth performance. Our research contributes to understanding how the COVID shock affected the entire growth rates distribution, ranging to high-growth firms and declining firms. Second, governments devoted financial support to firms. Our analysis explores if COVID policy support was given to companies more affected by this shock. Third, previous digitalization may have boosted resilience by shielding firms from COVID’s harmful effects on firm growth.
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This research delves into the transformative potential of Generative Artificial Intelligence (AI), particularly ChatGPT, in enhancing higher education. It aims to explore how…
Abstract
This research delves into the transformative potential of Generative Artificial Intelligence (AI), particularly ChatGPT, in enhancing higher education. It aims to explore how these advanced AI tools can be integrated into different educational settings to improve interactive learning experiences and student engagement, addressing the current challenges and opportunities in academic and administrative applications. Adopting a qualitative approach, the research utilizes the case vignette method to simulate realistic scenarios in various academic disciplines. It examines the potential applications and outcomes of AI in higher education, structured around key areas like intelligent tutoring systems, assessment, personalization and student profiling. This study employs the 4Cs framework (Critical Thinking, Creativity, Collaboration and Communication) to evaluate the effectiveness of AI integration in improving educational outcomes. The study reveals that ChatGPT can significantly enhance learning experiences by providing personalized tutoring, efficient assessment, tailored content and predictive insights into student performance. However, challenges such as ensuring content accuracy, ethical concerns and balancing AI with human interaction are also identified. Best practices for effectively integrating ChatGPT in higher education are proposed, emphasizing the complementarity of AI and human elements in education. This research contributes to the growing body of knowledge on AI in education by providing a nuanced understanding of generative AI's potential and challenges in higher education. It offers valuable insights and practical recommendations for educators and institutions, guiding the effective integration of AI technologies to enhance teaching and learning.
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Debasis Majhi and Bhaskar Mukherjee
The purpose of this study is to identify the research fronts by analysing highly cited core papers adjusted with the age of a paper in library and information science (LIS) where…
Abstract
Purpose
The purpose of this study is to identify the research fronts by analysing highly cited core papers adjusted with the age of a paper in library and information science (LIS) where natural language processing (NLP) is being applied significantly.
Design/methodology/approach
By excavating international databases, 3,087 core papers that received at least 5% of the total citations have been identified. By calculating the average mean years of these core papers, and total citations received, a CPT (citation/publication/time) value was calculated in all 20 fronts to understand how a front is relatively receiving greater attention among peers within a course of time. One theme article has been finally identified from each of these 20 fronts.
Findings
Bidirectional encoder representations from transformers with CPT value 1.608 followed by sentiment analysis with CPT 1.292 received highest attention in NLP research. Columbia University New York, in terms of University, Journal of the American Medical Informatics Association, in terms of journals, USA followed by People Republic of China, in terms of country and Xu, H., University of Texas, in terms of author are the top in these fronts. It is identified that the NLP applications boost the performance of digital libraries and automated library systems in the digital environment.
Practical implications
Any research fronts that are identified in the findings of this paper may be used as a base for researchers who intended to perform extensive research on NLP.
Originality/value
To the best of the authors’ knowledge, the methodology adopted in this paper is the first of its kind where meta-analysis approach has been used for understanding the research fronts in sub field like NLP for a broad domain like LIS.
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Enrique Orduña-Malea, Juan M. Ayllón, Alberto Martín-Martín and Emilio Delgado López-Cózar
Google Scholar Citations (GSC) provides an institutional affiliation link which groups together authors who belong to the same institution. The purpose of this paper is to…
Abstract
Purpose
Google Scholar Citations (GSC) provides an institutional affiliation link which groups together authors who belong to the same institution. The purpose of this paper is to ascertain whether this feature is able to identify and normalize all the institutions entered by the authors, and whether it is able to assign all researchers to their own institution correctly.
Design/methodology/approach
Systematic queries to GSC’s internal search box were performed under two different forms (institution name and institutional e-mail web domain) in September 2015. The whole Spanish academic system (82 institutions) was used as a test. Additionally, specific searches to companies (Google) and world-class universities were performed to identify and classify potential errors in the functioning of the feature.
Findings
Although the affiliation tool works well for most institutions, it is unable to detect all existing institutions in the database, and it is not always able to create a unique standardized entry for each institution. Additionally, it also fails to group all the authors who belong to the same institution. A wide variety of errors have been identified and classified.
Research limitations/implications
Even though the analyzed sample is good enough to empirically answer the research questions initially proposed, a more comprehensive study should be performed to calibrate the real volume of the errors.
Practical implications
The discovered affiliation link errors prevent institutions from being able to access the profiles of all their respective authors using the institutions lists offered by GSC. Additionally, it introduces a shortcoming in the navigation features of Google Scholar which may impair web user experience.
Social implications
Some institutions (mainly universities) are under-represented in the affiliation feature provided by GSC. This fact might jeopardize the visibility of institutions as well as the use of this feature in bibliometric or webometric analyses.
Originality/value
This work proves inconsistencies in the affiliation feature provided by GSC. A whole national university system is systematically analyzed and several queries have been used to reveal errors in its functioning. The completeness of the errors identified and the empirical data examined are the most exhaustive to date regarding this topic. Finally, some recommendations about how to correctly fill in the affiliation data (both for authors and institutions) and how to improve this feature are provided as well.
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The purpose of this paper is to attempt an aerospaceplane design with the objective of Low-Earth-Orbit-and-Return-to-Earth (LEOARTE) under the constraints of safety, low cost…
Abstract
Purpose
The purpose of this paper is to attempt an aerospaceplane design with the objective of Low-Earth-Orbit-and-Return-to-Earth (LEOARTE) under the constraints of safety, low cost, reliability, low maintenance, aircraft-like operation and environmental compatibility. Along the same lines, a “sister” point-to-point flight on Earth Suborbital Aerospaceplane is proposed.
Design/methodology/approach
The LEOARTE aerospaceplane is based on a simple design, proven low risk technology, a small payload, an aerodynamic solution to re-entry heating, the high-speed phase of the outgoing flight taking place outside the atmosphere, a propulsion system comprising turbojet and rocket engines, an Air Collection and Enrichment System (ACES) and an appropriate mission profile.
Findings
It was found that a LEOARTE aerospaceplane design subject to the specified constraints with a cost as low as 950 United States Dollars (US$) per kilogram into Low Earth Orbit (LEO) might be feasible. As indicated by a case study, a LEOARTE aerospaceplane could lead, among other activities in space, to economically viable Space-Based Solar Power (SBSP). Its “sister” Suborbital aerospaceplane design could provide high-speed, point-to-point flights on the Earth.
Practical implications
The proposed LEOARTE aerospaceplane design renders space exploitation affordable and is much safer than ever before.
Originality/value
This paper provides an alternative approach to aerospaceplane design as a result of a new aerodynamically oriented Thermal Protection System (TPS) and a, perhaps, improved ACES. This approach might initiate widespread exploitation of space and offer a solution to the high-speed “air” transportation issue.