Statistics in Retail Financial Services #capital #finance


#retail finance

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Statistics in Retail Financial Services

(Adams. Anagnostopoulos. Bellotti. Bakoben, Hand, Heard. Gandy. Missaoui, Veraart )

The aims and objectives of the Statistical Methods in Retail Financial Services Research Group are:

To apply statistical methods in the financial sector of industry; and

To develop new statistical methodology arising from the novel challenges presented by these applications.

It is very apparent that the level of sophistication of the methods and tools used by the banks to control their retail credit operations is increasing rapidly, and we aim to continue to be in the vanguard of this development. Our research involves all aspects of mathematics and statistics relating to the retail finance industry. including fraud detection, portfolio modelling, default correlation and risk management.

We have numerous links with organisations within the retail banking sector, and are always involved in discussions with banks and other financial bodies about possible collaborations or research sponsorships. Previous projects have been sponsored by Fair Isaac, Link Financial, and other bodies.

Specific areas of research interest within the Statistics for Retail Finance group:

  • Evaluating scorecards (Hand, Anagnostopoullos, Adams)
  • Fraud detection (Hand, Adams, Heard)
  • Inclusion of macroeconomic conditions on credit risk (Bellotti)
  • Use of survival and panel models for credit risk (Bellotti)
  • Applications of machine learning in credit risk modelling (Bellotti)
  • Stress Testing (Bellotti)
  • Modelling Loss Given Default (Bellotti)
  • Applications of graph mining to portfolio credit risk and fraud detection (Missaoui)

The group is part of the Quantitative Financial Risk Management Centre (QFRMC). This is a research consortium run from the Department of Mathematics at Imperial College, the School of Management at the University of Southampton, and the University of Edinburgh Business School. It was established by the Engineering and Physical Sciences Research Council, with additional funding from the Economic and Social Research Council and the Institute of Actuaries. It carries out research and organises conferences and other meetings addressing issues in the retail financial services sector, in collaboration with banks, credit agencies, and other bodies

Awards:

  • Contributions to the Credit Industry Award, Credit Collections and Risk 2012 annual industry awards

Selected Publications (in chronological order):

Invited Talks / Keynote Presentations:

  • Bellotti (2013) CFE 2013, 7th CSDA International Conference on Computational and Financial Econometrics
  • Bellotti (2013) Royal Statistical Society Workshop: Advanced Statistical Methods in Credit Risk
  • Bellotti (2013) 8th Annual Forum on Retail Credit Risk, London
  • Bellotti (2013) National Association of Data Protection Officers
  • Hand (2012) “Big data: risks, opportunities, and challenges” Demographics User Forum conference on Retail issues, big data, and research.
  • Hand (2012) ” Discriminating or distinguishing? Legalities and moralities in scorecard construction” CCR-interactive, London
  • Hand (2012) ” Big bang, big data, big computers. Opportunities and challenges in modelling and anomaly detection”, Paris
  • Hand (2012) Keynote address, RSS Risk in Business: the business of risk, Telford
  • Hand (2012) “Innovation in customer decisioning to add business value”, Infoline Retail Credit Risk conference

Impact / Industrial Collaborations / Consultancy:

The Statistics in Retail Finance Research Group are active collaborators with the finance industry and have been involved in many successful consultancy projects with several financial institutions over the past thirty years. We usually work through Imperial Consultants (ICON). Some types of consultancy projects we have undertaken are:

  • Credit risk model development
  • Model validation and evaluation
  • Data network analysis
  • Fraud detection models

We regularly organize workshops targeted to practitioners in retail finance as well as the academic community. In the 2012/13 academic year we have hosted workshops onModel Risk and Big Data.

Publications

Crook J, Bellotti AG, 2012,

Asset correlations for credit card defaults

Applied Financial Economics. Pages: 87-95

The capital requirements formula within the Basel II Accord is based on a Merton one-factor model and in the case of credit cards an asset correlation of 4% is assumed. In this article we estimate the asset correlation for two datasets assuming the one-factor model. We find that the asset correlations assumed by Basel II are much higher than those observed in the datasets we analyse. We show the reduction in capital requirements that a typical lender would have if the values we estimated were implemented in the Basel Accord in place of the current values.

Credit scoring, insurance and discrimination

Statistics, Science and Public Policy XVI, Editors: Herzberg, Pages: 85-90, ISBN: 9781553393825

  • Cite
  • Hand DJ, Crowder MJ, 2012,

    Pavlidis NG, Tasoulis DK, Adams NM, Hand DJ et al.. 2012,

    Brentnall AR, Crowder MJ, Hand DJ, 2011,

    The Best Writing on Mathematics 2011

    The Best Writing on Mathematics 2011, Editors: Pitici, Publisher: Princeton University Press, Pages: 67-74, ISBN: 9781400839544

    This book belongs on the shelf of anyone interested in where math has taken us–and where it is headed.

    Krzanowski WJ, Hand DJ, 2011,

    Bellotti T, 2010,

    Journal of Financial Services Marketing. Vol: 14, Pages: 268-277, ISSN: 1363-0539

    • Cite
  • Brentnall AR, Crowder MJ, Hand DJ, 2010,

    Conference on Credit Scoring and Credit Control X, Publisher: PALGRAVE MACMILLAN LTD, Pages: 462-472, ISSN: 0160-5682

    • Author Web Link
    • Cite
  • Brentnall AR, Crowder MJ, Hand DJ, 2010,

    Brentnall AR, Crowder MJ, Hand DJ, 2010,

    Crook J, Bellotti T, 2010,

    Time varying and dynamic models for default risk in consumer loans

    JOURNAL OF THE ROYAL STATISTICAL SOCIETY SERIES A-STATISTICS IN SOCIETY. Vol: 173, Pages: 283-305, ISSN: 0964-1998

    • Author Web Link
    • Cite
    • Citations: 9
  • Hand DJ, Zhou F, 2010,

    Contact Links


  • MSc in Statistics and Computational Finance #equipment #finance


    #computational finance

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    Department of Mathematics

    MSc in Statistics and Computational Finance

    This one year MSc programme in Statistics and Computational Finance aims to train students to work as professional statisticians, not only at the interface between statistics and finance, but to provide skills applicable in sociology, health science, medical science, biology, and other scientific areas where data analysis is needed. The emphasis of the programme is on data analysis. It will equip students with contemporary statistical ideas and methodologies as well as advanced knowledge, which will make students very competitive to industry, academic and governmental institutions. There are excellent career prospects for employment in industry and the public sector for our graduates. An MSc degree in Statistics and Computational Finance provides attractive employment opportunities in financial industries, government, consultancy companies, research centres, and other industries where data analysis is needed. Students with an interest in academic work may also decide to continue on a PhD programme in Statistics or a related field, for which the MSc in Statistics and Computational Finance provides a sound foundation. This programme is delivered by the Department of Mathematics.

    Candidates are expected to have a second class honours degree, or equivalent, with a significant mathematical (and, preferably, statistical) component. Applicants who have other qualifications or have studied overseas are welcome. For more details, see Entry Requirements .

    Applications are invited for the next intake of students in the Autumn of 2016. Please go to the Enquiries and Applications section for further information.

    Intending students should note that the Autumn Term starts on Monday 26 September 2016.

    For details of the modules offered, see Programme Structure .


    MBA Current Employment Report, MIT Sloan School of Management, mba statistics.#Mba #statistics


    #

    Career Development Office

    Build Your Brand

    Post Your Job

    MBA Current Employment Report

    Class of 2016 Profile 1

    1 Class profile (as of matriculation) includes information for MBA students and students in the joint MBA/Leaders for Global Operations program.

    Class of 2016 MBA Employment Profile 2

    2 All information based on data reported by students.

    Employment Overview 3

    3 Full-time employment statistics based on job acceptances. 97.6% of reported acceptances included usable salary information.

    Top Hirers of MBA Class of 2016

    • McKinsey Company (26)
    • Amazon (23)
    • Bain Company (17)
    • Boston Consulting Group, The (14)
    • Google (9)
    • Microsoft Corporation (8)
    • Deloitte Consulting (6)
    • Bank of America Merrill Lynch (5)
    • L.E.K. Consulting (5)

    MBA Class of 2016 Salary Figures: Full-time

    Class of 2016 MBA Base Salary by Industry 1

    1 Manufacturing: Other includes Manufacturing, Telecommunications, and Transportation/Equipment/Defense.

    Class of 2016 MBA Base Salary by Function

    1 Finance: Other includes Corporate Finance, Finance Operations, Treasury and M A.

    Top Industries

    3 Tech includes Software/Internet, Computers/Electronics, and Telecommunications.

    Top Functions

    Class of 2016 MBA Base Salary by Geographic Location

    1 Dash indicates fewer than three people or less than 1% reported salary information.

    Class of 2016 MBA Base Salary by Undergraduate Major

    Class of 2016 MBA Base Salary by Professional Experience

    Signing Bonus Received by Job Function 1

    1 66.1% of the students reporting usable salary data reported receiving a signing bonus.

    Percentages represent the number of students who received a signing bonus in the function.

    Other Guaranteed Compensation

    Class of 2016 MBA Timing of Job Offers

    Class of 2016 MBA Timing of Job Acceptances 1

    1 Three graduates, representing 0.7% of graduates, reneged on an accepted offer.

    Class of 2016 MBA Reason for Accepting Position

    Class of 2016 MBA Source of Job Offers

    MBA Class of 2017 Overview: Internship

    Class of 2017 MBA Profile 1

    1 Class profile (as of matriculation) includes information for MBA students and students in the joint MBA/Leaders for Global Operations program.

    Class of 2017 MBA Internship Employment Profile 2

    2 All information based on data reported by students.

    Employment Overview 3

    3 Summer employment statistics based on internship acceptances. 91.2% of reported acceptances included usable salary information.

    Top Intern Hirers of MBA Class of 2017

    • Amazon (19)
    • Boston Consulting Group, The (16)
    • Bain Company (14)
    • Microsoft Corporation (10)
    • Anheuser-Busch InBev (9)
    • McKinsey Company (9)
    • Google (8)
    • Deloitte Consulting (6)
    • Goldman Sachs Group (6)

    MBA Class of 2017 Salary Statistics: Internship

    Class of 2017 MBA Monthly Salary by Industry

    1 Manufacturing: Other includes Automotive/Aerospace, Manufacturing, Telecommunications and Transportation/Equipment/Defense.

    Class of 2017 MBA Monthly Salary by Job Function

    1 Finance/Other includes Corporate Finance, Private Client Services/Wealth Management, and Treasury.

    Top Industries

    *Investment Banking and Pharmaceutical/Healthcare are tied at 6.9%.

    Top Functions

    Class of 2017 MBA Monthly Salary by Geographic Location

    1 Dash indicates fewer than three people or less than 1% reported salary information.

    Class of 2017 MBA Monthly Salary by Undergraduate Major 1

    Class of 2017 MBA Monthly Salary by Professional Experience

    Class of 2017 MBA Reason for Accepting Position

    Class of 2017 MBA Source of Job

    Employers Hiring Members of the MBA Classes of 2016 and 2017

    Bold = Employers hiring three or more MIT Sloan MBA students for full-time and/or summer positions.

    *LGO Partner during 2014-2015 academic year.

    AES Corporation, The

    African Leadership University, The

    AIF Capital Limited

    Akre Capital Management

    American Express Company

    American Industrial Partners*

    Bank of America Merrill Lynch

    Bayer Business Consulting

    Bessemer Venture Partners

    Black Duck Software

    BMO Capital Markets

    Booz Allen Hamilton

    Boston Consulting Group, The

    Bridgespan Group, The

    Brookside Equity Partners

    Cell Signaling Technology

    ChinaRock Capital Management

    City of Boston—Mayor’s Office of

    New Urban Mechanics

    City of Fortaleza

    Congress for New Urbanism

    Cue Ball Group, The

    Curaspan Health Group

    Dalberg Global Development

    Daniel J. Edelman

    Davidson Kempner Capital

    Dimensional Fund Advisors

    Eden Capital Partners

    EF Education First

    Eventide Asset Management

    Fidelity Investments—Fidelity Labs

    First Fuel Software

    Flybridge Capital Partners

    Fox Entertainment Group

    G.O.O.D. Music Management

    Goldman Sachs Group

    GP Investments North America

    IKON Venture Capital

    IFC – World Bank Group

    IMS Health, Amundsen Group, The

    IX Capital Partners

    John Hancock Financial Services

    JMC Capital Partners

    Keurig Green Mountain

    Kraft Sports Group, The

    Latin American Partners (LAP)

    Lateral Investment Management

    Lincoln Center for the Performing

    Luxottica Group, The

    Massachusetts Clean Energy Center

    MFS Investment Management

    Mubadala Development Company

    MUUS Asset Management

    National Assembly of Venezuela

    National Hockey League

    New Balance Athletic Shoe

    New Valence Robotics Corporation

    New York Times, The

    PA Consulting Group

    Pacific Gas Electric (PG E)*

    Pacific Marine Supply

    Polaris Capital Management

    PowerGen Renewable Energy

    Restaurant Brands International

    Rialto Capital Management

    River Hollow Partners

    Samsung Electronics America

    Samsung Global Strategy Group

    Samsung Strategy Innovation

    Simon-Kucher and Partners

    State Street Global Advisors

    Thermo Fisher Scientific

    Third Sector Capital Partners

    Walt Disney Company, The

    White House, The

    William Blair Company

    Accuracy in Reporting Employment Statistics

    The MIT Sloan School of Management adheres to the MBA Career Services Employer Alliance (MBA CSEA) Standards for Reporting MBA Employment Statistics (mbacsea.org). Conformance to this business school industry standard ensures accurate and comparable employment data. Currently, the majority of the leading MBA programs adhere to these accepted reporting standards. MIT Sloan takes a leadership role to promote the importance of accurate and comparable employment and salary statistics to prospective students and employers.

    Nondiscrimination Policy

    The Massachusetts Institute of Technology is committed to the principle of equal opportunity in education and employment. The Institute does not discriminate against individuals on the basis of race, color, sex, sexual orientation, gender identity, religion, disability, age, genetic information, veteran status, ancestry, or national or ethnic origin in the administration of its educational policies, admissions policies, employment policies, scholarship and loan programs, and other Institute administered programs and activities, but may favor US citizens or residents in admissions and financial aid.*

    The Vice President for Human Resources is designated as the Institute’s Equal Opportunity Officer and Title IX Coordinator. Inquiries concerning the Institute’s policies, compliance with applicable laws, statutes, and regulations (such as Title VI, Title IX, and Section 504), and complaints may be directed to the Vice President for Human Resources, Room E19-215, 617-253-6512, or to the Manager of Staff Diversity and Inclusion, Room E19-215, 617-452-4516. In the absence of the Vice President for Human Resources or the Manager of Staff Diversity and Inclusion, inquiries or complaints may be directed to the Executive Vice President, Room 4-204, 617-253-3928, or to the Director of Labor and Employee Relations, Room E19-235N, 617-253-4264, respectively. Inquiries about the laws and about compliance may also be directed to the Assistant Secretary for Civil Rights, US Department of Education.

    *The ROTC programs at MIT are operated under Department of Defense (DoD) policies and regulations, and do not comply fully with MIT’s policy of nondiscrimination with regard to gender identity. MIT continues to advocate for a change in DoD policies and regulations concerning gender identity, and will replace scholarships of students who lose ROTC financial aid because of these DoD policies and regulations.


    Car Crash Costs and Statistics #auto, #accident, #car #crash, #statistics, #cost, #car #insurance, #money, #insurance, #traffic #deaths


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    Cost of Auto Crashes & Statistics

    The highest price we pay for car crashes is in the loss of human lives, however society also bears the brunt of the many costs associated with motor vehicle accidents. According to the National Highway Traffic Safety Administration (NHTSA ), U.S. motor vehicle crashes in 2010 cost almost $1 trillion in loss of productivity and loss of life. The study was released in May 2014. The auto industry’s steady improvements in vehicle safety over the last several decades despite a litany of safety recalls had driven down the number of roadway deaths to an all-time low of 32,675 in 2014.

    NHTSA reports the number of people killed on the road in the U.S. soared 7.2% to 35,092 in 2015, marking the deadliest year on the road since 2008. Though the increase was widely expected after NHTSA last month revealed a preliminary estimate of a 7.7% increase, the official figure solidifies 2015’s dubious distinction as the first year-over-year increase since 2012. In addition, roadway deaths of pedestrians and cyclists hit a two-decade high in 2015.

    New findings from the Insurance Research Council’s (IRC) Auto Injury Insurance Claims Study shows that medical expenses reported by auto injury claimants continue to increase faster than the rate of inflation, in spite of the fact that the severity of the injuries themselves remain on a downward trend. From 2007 to 2012, average claimed economic losses (which include expenses for medical care, lost wages and other out-of-pocket expenditures) grew 8 percent annualized among personal injury protection (PIP) claimants. Among bodily injury (BI) claimants, average claimed losses grew 4 percent. Over the same period, measures such as the percentage of claimants who had no visible injuries at the accident scene or who had fewer than 10 days in which they were unable to perform their usual daily activities provided evidence of a continuing decline in the severity of injuries.

    • In 2013, the average auto liability claim for property damage was $3,231; the average auto liability claim for bodily injury was $15,443 (ISO. a Verisk Analytics company).
    • In 2013, the average collision claim was $3,144; the average comprehensive claim was $1,621 (ISO. a Verisk Analytics company).

    Private insurers pay approximately 50% of all motor vehicle crash costs. Individual crash victims pay about 26%, while third parties such as uninvolved motorists delayed in traffic, charities and health care providers pay about 14%. Federal revenues account for 6%, while state and local municipalities pick up about 3%. Overall, those not directly involved in crashes pay for nearly three-quarters of all crash costs, primarily through insurance premiums, taxes and travel delay (National Highway Traffic Safety Administration ).

    Crash Type & Driver Behavior

    In 2013 there were 5,687,000 police-reported motor vehicle traffic crashes, 32,719 people died in motor vehicle crashes, down 3.1 percent from 33,782 in 2012. Of total crashes in 2013, 1,591,000 caused injuries and 4,066,000 caused property damage only.

    The National Highway Traffic Safety Administration estimates about 10 million or more crashes go unreported each year.

    Alcohol-Related Crashes: In 2013, 10,076 people were killed in alcohol-impaired driving crashes (any fatal crash involving a driver with a blood-alcohol content (BAC) of 0.08 percent or higher), down 2.5 percent from 10,336 in 2012. Of the persons who were killed in traffic crashes in 2013, 31 percent died in alcohol-impaired driving crashes. In 2010, drunk driving alone accounted for 18% of the total economic loss from motor vehicle crashes, costing the economy as much as $199 billion in direct and quality-of-life losses (NHTSA ).

    Speeding: According to the National Highway Traffic Safety Administration (NHTSA) in 2013, 9,613 lives were lost due to speed-related accidents, down 6.9 percent from 10,329 in 2012. NHTSA says that speed-related crashes cost Americans $40.4 billion each year (NHTSA ).

    • Speeding was a contributing factor in 29 percent of all fatal crashes in 2013.
    • In 2013 about 35 percent of both 15 to 20-year-old and 21 to 24-year old male drivers who were involved in fatal crashes were speeding at the time of the crash.
    • Red Light Running: The IIHS says that more than 900 people a year die and nearly 2,000 are injured as a result of vehicles running red lights. About half of those deaths are pedestrians and occupants of other vehicles who are hit by red light runners.

    • Fatigue: A study by the AAA Traffic Safety Foundation found that 37 percent of drivers report having fallen asleep behind the wheel at some point in their lives. An estimated 21 percent of fatal crashes, 13 percent of crashes resulting in severe injury and 6 percent of all crashes, involve a drowsy driver, according to a 2014 study by the AAA. Results of a November 2013 AAA survey showed that 28.3 percent of licensed drivers age 16 or older said that in the past 30 days they had driven when they were so tired that they had a hard time keeping their eyes open.
    • Distracted Driving: The National Highway Traffic Safety Administration (NHTSA) gauges distracted driving by collecting data on “distraction-affected crashes,” which focuses on distractions that are most likely to affect crash involvement such as dialing a cellphone or texting and being distracted by another person or an outside event. In 2013, 3,154 people were killed in distraction-affected crashes, and 424,000 people were injured. There were 2,910 distraction-affected fatal crashes, accounting for 10 percent of all fatal crashes in the nation, 18 percent of injury crashes and 16 percent of all motor vehicle crashes in 2013 (NHTSA ).
    • Cell Phone Use: In April 2014, NHTSA released the results of the latest National Occupant Protection Use Survey (NOPUS), which found that in 2012, 1.5 percent of drivers were text-messaging or visibly manipulating hand-held devices, up from 1.3 percent in 2011. NHTSA says that the 2012 increase was not statistically significant. Driver use of hand-held cellphones was 5 percent in 2012 for the fourth year running. Hand-held cellphone use was highest among 16- to 24-year olds (6 percent in 2012) and lowest among drivers 70 and older (1 percent in 2012).

      • A State Farm study released in late 2012 found that among drivers age 18 to 29, almost half (48 percent) accessed the Internet on a cell phone while driving. One-third of those drivers (36 percent) read social media networks while driving. Almost half of those drivers (43 percent) checked their email while driving. Other age groups engaged in these activities less frequently.
    • In 2013, 32,719 people died in motor vehicle crashes, down 3.1 percent from 33,782 in 2012, according to the National Highway Traffic Safety Administration.
    • 605 people were killed in crashes on Colorado roads in 2015; an increase of 24% over 2014. (http://kdvr.com/2017/01/31/cdot-reports-sharp-increase-in-traffic-fatalities-in-2016/)
    • A motor vehicle death occurred on average every 16 minutes in 2013.
    • About 90 people died each day in motor vehicle crashes in 2013.

    Injuries

    • Injuries in motor vehicle crashes have been declining over the past few years:

      • 2003: 2.89 million injuries
      • 2004: 2.79 million injuries
      • 2006: 2.54 million injuries
      • 2008: 2.35 million injuries
      • 2009: 2.22 million injuries
      • 2010: 2.24 million injuries
      • 2011: 2.21 million injuries
      • 2012: 2.36 million injuries
      • 2013: 2.31 million injuries
    • In 2013, 6,337 people were injured each day in motor vehicle crashes.
    • A motor vehicle injury occured on average every 14 seconds in 2013.
    • The Centers for Disease Control and Prevention said in 2010 that the cost of medical care and productivity losses associated with motor vehicle crash injuries was over $99 billion, or nearly $500, for each licensed driver in the United States.

      State-By-State Crash Statistics & Costs

      The per-capita costs for each state vary from roughly $600-$1,200 compared to the nationwide average of $897. Smaller, less populated states may have lower overall costs, but they may also have fewer resources to draw on. Differences between states may also result from different reporting practices that result in more or less complete reporting of injuries from state to state.


    Basics of APA Style: An Online Course #bias-free #language,ethics,journal #article #reporting #standards #(jars),references,statistics,tables #and #figures,apa #publication #manual, #apa #style, #ce #activities, #ce #credits, #ce #hours, #ethics, #ce, #ce #course,,apa #style, #scientific #writing, #manuscripts, #bias-free #language, #ethics, #journal #article #reporting #standards, #references, #statistics, #tables #and #figures,,ethics,


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    Basics of APA Style: An Online Course

    The Basics of APA Style online course is intended to help all individuals in psychology and related fields learn how to apply the basic rules of APA Style in writing term papers, research reports, and journal articles. The course follows the organization of the sixth edition of the Publication Manual, providing a comprehensive overview of elements of manuscript preparation; each section is followed by two to three review questions.

    The course is divided into the following parts:

    Writing for the Social Sciences, which reviews types of articles used in psychological and social science research;

    Manuscript Structure and Content, which outlines manuscript elements and introduces journal article reporting standards;

    Writing Principles and Style, which describes organization of a manuscript with APA Style headings, principles of clear and concise communication, and reducing bias in language;

    The Mechanics of Style, which covers punctuation, capitalization, italics, and the use of numbers;

    Displaying Results, which offers basic guidance on creating tables and figures;

    Crediting Sources, which includes guidance on the importance of citation, appropriate citation level, quotations, citing references in text, creating a reference list, and an introduction to online resources; and

    The Reference List, which includes templates and examples of both online and print sources. Reference examples reflect technological innovations in electronic referencing such as the inclusion of the digital object identifier, or DOI, a unique alphanumeric string that provides a persistent link to content online. Many of the topics throughout the course are supplemented with relevant illustrative examples, such as tables and figures, to provide context. The course ends with 20 assessment questions.

    Individuals are required to meet a passing score of 75% or higher. Individuals are allowed two attempts to successfully complete the program. If the individual is unsuccessful on the second attempt, access to the online test will no longer be available.

    This course has been reviewed and approved by the APA Office of Continuing Education in Psychology (CEP) to offer continuing education credit for psychologists. The APA CEP Office and the APA Office of Publications and Databases maintain responsibility for this program and its content.

    Learn how to apply basic rules of APA Style in term papers, research reports, and journal articles. Content includes guidance on writing for the social sciences, manuscript structure and content, writing principles and style, the mechanics of APA Style (e.g. punctuation and capitalization), displaying results, crediting sources, and creating a reference list.

    Understand content in the sixth edition of the Publication Manual, including journal article reporting standards, guidelines on bias-free language, and changes in citing and referencing electronic sources.


    Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS #taxes, #tax #treaties, #oecd #model #tax #convention, #mutual #agreement #procedure #statistics, #treaty #abuse, #multilateral #instrument, #members, #group, #ad #hoc #group, #chairs, #participants, #action #15, #beps


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    Tax treaties

    Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS

    On 7 June 2017, over 70 Ministers and other high-level representatives participated in the signing ceremony of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (“Multilateral Instrument” or “MLI”). Signatories include jurisdictions from all continents and all levels of development. A number of jurisdictions have also expressed their intention to sign the MLI as soon as possible and other jurisdictions are also actively working towards signature.

    The MLI offers concrete solutions for governments to close the gaps in existing international tax rules by transposing results from the OECD/G20 BEPS Project into bilateral tax treaties worldwide. The MLI modifies the application of thousands of bilateral tax treaties concluded to eliminate double taxation. It also implements agreed minimum standards to counter treaty abuse and to improve dispute resolution mechanisms while providing flexibility to accommodate specific tax treaty policies.

    The MLI is still open for additional Signatories. Jurisdictions interested in signing the MLI are invited to contact the OECD Secretariat .

    The text of the Multilateral Instrument (MLI) and its Explanatory Statement were developed through a negotiation involving more than 100 countries and jurisdictions and adopted on 24 November 2016, under a mandate delivered by G20 Finance Ministers and Central Bank Governors at their February 2015 meeting. The MLI and its Explanatory Statement were adopted in two equally authentic languages, English and French.

    Download the Explanatory Statement (PDF)

    TRANSLATION IN OTHER LANGUAGES

    Members of the ad hoc Group have prepared translations of the MLI in German, Italian and Spanish. The OECD Secretariat has prepared a translation of the MLI in Arabic.

    Other MLI translations, including translations in Dutch, Greek, Swedish, and Russian, are being prepared by members of the ad hoc Group and will be made available shortly and further MLI translations are expected by year end.

    The translations of the MLI in other languages are provided only for information purposes. Only the signed English and French MLI are the authentic MLI texts applicable.


    Drunk Driving Accidents Crash, Photos: Pictures Drunk Driving Accidents from #drunk,driving, #crash, #crashes #accidents, #photo, #picture, #pictures, #victims, #death, #fatality, #photos, #story, #stories, #dui, #oui, #dwi, #driving, #under, #influence, #wrecks, #crash, #accidents, #crashed, #auto #accident #picture, #alcohol, #teen, #teenager, #victim, #car #wreck, #motor, #stats, #statistics, #fatal, #drunk #driving, #road, #part, #vehicle, #accidents, #ny, #chicago, #houston, #new, #york, #bmw #car #accident #pic.


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    Drunk Driving Crash Pictures: Gallery #2
    Drunk driving account for about 17,000 fatal car accidents in the US every year, this translates to a US drunk driving death every 31 minutes. Alcohol was a factor in 39 percent of all fatal accidents and in 7 percent of all crashes in 2004.
    See More in Drunk Driving Crash Gallery #1
    And yet More in Gallery # 3
    Here are many examples of drunk driving crashes. Pictures submitted by our viewers. Submit your own pictures and story here

    Find Auto Accident Lawyers: Click Here

    Drunk Driver Wreck
    Kansas City Missouri

    Drunk Driving Fast Food Quest
    Florida

    I Don’t Remember Because I was Drunk
    Vilnius, Lithuania

    Drunk Driving Crash Gallery #3

    Drunk DrivingCrash Photos and Story? We invite you to Send them to us.

    Car-Accidents.com is being built by our millions of viewers who have sent in their experiences and shared their pictures and stories. The stories told on Car-Accidents.com range from those of tragic loss, narrow escapes, cautionary tales and routine rear enders. You are invited to share your story with the millions of visitors we receive from around the the world.

    General Guidelines for Sending Your Pictures and Story:

    1. Please use either a jpg, bmp or gif format.

    2. Tell us your story, there is no limit to what you can send us but please try include a description, date of the accident, (make model of the vehicle if known) and the accident location ( City, State, or the Country if outside US ). This makes for a more interesting page! You agree to our terms and conditions .
    3. Send your photo and story to Thank you!

    Car Crash Photo Gallery: Hundreds of Car Accident Photos

    See Car Crashes Organized By US states Here

    View Car Accident Organized by Country


    Secondary Education – Degree requirements – Students – College of LAS – Illinois #las, #college #of #liberal #arts #and #sciences, #college, #liberal #arts, #humanities, #undergraduate #education, #advising, #general #curriculum, #global #studies, #study #abroad, #alumni, #uiuc, #african #studies, #afro-american #studies, #anthropology, #asian #studies, #astronomy, #atmospheric #sciences, #biochemistry, #biology, #computational #biology, #chemistry, #cinema, #classics, #comparative #literature, #economics, #english, #entomology, #foreign #languages, #women #s #studies, #genome, #genomics, #geography, #geology, #history, #jewish #culture, #latina/latino #studies, #linguistics, #mathematics, #medieval #studies, #microbiology, #physiology, #native #american #studies, #philosophy, #physics, #political #science, #psychology, #religion, #russian #and #east #european #studies, #middle #eastern #studies, #communication, #spurlock #museum, #statistics, #atlas, #illinois, #urbana, #champaign, #university


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    College of LAS Illinois

    LAS General Education Distribution Requirements

    Modifications for Secondary Teacher Education Curriculum

    Although Secondary Teacher Education Curriculum students must complete all LAS General Education Distribution Requirements. some LAS teaching majors require the selection of specific courses from the LAS General Education list. The following information is provided to help students select the courses required by that major. They are reminded to consult with an advisor.

    All LAS Secondary Teacher Education majors require a speech performance course. Courses that meet this requirement are Speech Communication 101, 113, 120, 321, and 323. Students who meet their Composition I requirement with Speech Communication 111/112 do not have to take an additional speech performance course.

    Restrictions

    Biology, English, and Mathematics
    These teaching majors may choose from the full range of offerings within LAS General Education Requirements.

    Chemistry, Earth Science (Geology), Physics
    To meet state content standards, students in these physical science majors should take Integrative Biology 101 to meet the Life Sciences requirement.

    Social Studies (History)
    To meet state content standards for social studies, students in this major should select the following General Education courses:

    • Historical/Philosophical Perspectives: History 171 or 172 and History 141
    • Social Sciences: Political Science 101
    • Non-Western Cultures (or U.S. Minority Cultures): History 100
    • Life Sciences: Anthropology 143
    • Physical Sciences: Geography 103
    • Quantitative Reasoning I: Statistics 100
    • Behavioral Sciences: Psychology 100
    • Quantitative Reasoning II: Sociology 380

    Languages (potential teaching students in French, German, Latin, Russian, and Spanish)

    • Social Sciences: Political Science 101
    • Historical/Philosophical Perspectives: American history
    • Literature and the Arts: American or British literature or a literature course from a foreign language that is not their major language

    NOTE: All potential teaching students should take PSYCH 100 to meet their Behavioral Science requirement since it is a prerequisite for EPSY 201, an admissions requirement for all secondary education students. Community Health 243 (Drug Use and Abuse) or Community Health 206 (Human Sexuality) is recommended but not required for any of the secondary majors.

    LAS Student Handbook


    Statistics in Retail Financial Services #toothfairy #finance


    #retail finance

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    Statistics in Retail Financial Services

    (Adams. Anagnostopoulos. Bellotti. Bakoben, Hand, Heard. Gandy. Missaoui, Veraart )

    The aims and objectives of the Statistical Methods in Retail Financial Services Research Group are:

    To apply statistical methods in the financial sector of industry; and

    To develop new statistical methodology arising from the novel challenges presented by these applications.

    It is very apparent that the level of sophistication of the methods and tools used by the banks to control their retail credit operations is increasing rapidly, and we aim to continue to be in the vanguard of this development. Our research involves all aspects of mathematics and statistics relating to the retail finance industry. including fraud detection, portfolio modelling, default correlation and risk management.

    We have numerous links with organisations within the retail banking sector, and are always involved in discussions with banks and other financial bodies about possible collaborations or research sponsorships. Previous projects have been sponsored by Fair Isaac, Link Financial, and other bodies.

    Specific areas of research interest within the Statistics for Retail Finance group:

    • Evaluating scorecards (Hand, Anagnostopoullos, Adams)
    • Fraud detection (Hand, Adams, Heard)
    • Inclusion of macroeconomic conditions on credit risk (Bellotti)
    • Use of survival and panel models for credit risk (Bellotti)
    • Applications of machine learning in credit risk modelling (Bellotti)
    • Stress Testing (Bellotti)
    • Modelling Loss Given Default (Bellotti)
    • Applications of graph mining to portfolio credit risk and fraud detection (Missaoui)

    The group is part of the Quantitative Financial Risk Management Centre (QFRMC). This is a research consortium run from the Department of Mathematics at Imperial College, the School of Management at the University of Southampton, and the University of Edinburgh Business School. It was established by the Engineering and Physical Sciences Research Council, with additional funding from the Economic and Social Research Council and the Institute of Actuaries. It carries out research and organises conferences and other meetings addressing issues in the retail financial services sector, in collaboration with banks, credit agencies, and other bodies

    Awards:

    • Contributions to the Credit Industry Award, Credit Collections and Risk 2012 annual industry awards

    Selected Publications (in chronological order):

    Invited Talks / Keynote Presentations:

    • Bellotti (2013) CFE 2013, 7th CSDA International Conference on Computational and Financial Econometrics
    • Bellotti (2013) Royal Statistical Society Workshop: Advanced Statistical Methods in Credit Risk
    • Bellotti (2013) 8th Annual Forum on Retail Credit Risk, London
    • Bellotti (2013) National Association of Data Protection Officers
    • Hand (2012) “Big data: risks, opportunities, and challenges” Demographics User Forum conference on Retail issues, big data, and research.
    • Hand (2012) ” Discriminating or distinguishing? Legalities and moralities in scorecard construction” CCR-interactive, London
    • Hand (2012) ” Big bang, big data, big computers. Opportunities and challenges in modelling and anomaly detection”, Paris
    • Hand (2012) Keynote address, RSS Risk in Business: the business of risk, Telford
    • Hand (2012) “Innovation in customer decisioning to add business value”, Infoline Retail Credit Risk conference

    Impact / Industrial Collaborations / Consultancy:

    The Statistics in Retail Finance Research Group are active collaborators with the finance industry and have been involved in many successful consultancy projects with several financial institutions over the past thirty years. We usually work through Imperial Consultants (ICON). Some types of consultancy projects we have undertaken are:

    • Credit risk model development
    • Model validation and evaluation
    • Data network analysis
    • Fraud detection models

    We regularly organize workshops targeted to practitioners in retail finance as well as the academic community. In the 2012/13 academic year we have hosted workshops onModel Risk and Big Data.

    Publications

    Crook J, Bellotti AG, 2012,

    Asset correlations for credit card defaults

    Applied Financial Economics. Pages: 87-95

    The capital requirements formula within the Basel II Accord is based on a Merton one-factor model and in the case of credit cards an asset correlation of 4% is assumed. In this article we estimate the asset correlation for two datasets assuming the one-factor model. We find that the asset correlations assumed by Basel II are much higher than those observed in the datasets we analyse. We show the reduction in capital requirements that a typical lender would have if the values we estimated were implemented in the Basel Accord in place of the current values.

    Credit scoring, insurance and discrimination

    Statistics, Science and Public Policy XVI, Editors: Herzberg, Pages: 85-90, ISBN: 9781553393825

    • Cite
  • Hand DJ, Crowder MJ, 2012,

    Pavlidis NG, Tasoulis DK, Adams NM, Hand DJ et al.. 2012,

    Brentnall AR, Crowder MJ, Hand DJ, 2011,

    The Best Writing on Mathematics 2011

    The Best Writing on Mathematics 2011, Editors: Pitici, Publisher: Princeton University Press, Pages: 67-74, ISBN: 9781400839544

    This book belongs on the shelf of anyone interested in where math has taken us–and where it is headed.

    Krzanowski WJ, Hand DJ, 2011,

    Bellotti T, 2010,

    Journal of Financial Services Marketing. Vol: 14, Pages: 268-277, ISSN: 1363-0539

    • Cite
  • Brentnall AR, Crowder MJ, Hand DJ, 2010,

    Conference on Credit Scoring and Credit Control X, Publisher: PALGRAVE MACMILLAN LTD, Pages: 462-472, ISSN: 0160-5682

    • Author Web Link
    • Cite
  • Brentnall AR, Crowder MJ, Hand DJ, 2010,

    Brentnall AR, Crowder MJ, Hand DJ, 2010,

    Crook J, Bellotti T, 2010,

    Time varying and dynamic models for default risk in consumer loans

    JOURNAL OF THE ROYAL STATISTICAL SOCIETY SERIES A-STATISTICS IN SOCIETY. Vol: 173, Pages: 283-305, ISSN: 0964-1998

    • Author Web Link
    • Cite
    • Citations: 9
  • Hand DJ, Zhou F, 2010,

    Contact Links


  • International Business #international #business, #international, #global #trade, #global #edge, #transnational, #multidomestic, #commerce, #economy, #import, #export, #money, #world, #region, #country, #globe, #marketing, #ciber, #university #of #texas, #business #research, #marketing #trade #shows, #leads, #finance, #banking, #culture, #knowledge, #language, #yellow #pages, #resources #on #the #www, #governments, #statistics, #news, #press, #books, #international #calendars, #travel, #culture, #finance, #education, #insurnace, #law, #logistics, #marketing, #geert #hofstede, #global #trade, #stephen #taylor, #stephen #j. #taylor


    #

    I want to extend a personal welcome to you. The International Business Center is a not-for-profit organization that has invested hundreds of hours creating a series of dynamic and valuable resources for international business people, international business students, and teachers and professors at international business schools throughout the World.

    International business, Multinational, Transnational, Globalization, Multi domestic, Worldwide, and the Global Marketplace, these are terms you deal with daily.

    We know international business success requires more business acumen than managing a domestic enterprise. You not only deal with traditional business functions and values, but also must understand and work from a global perspective that adds politics, culture, monetary variables, time, and distance to the international business management equation.

    I believe you’ll find the International Business Center is an excellent resource for a variety of your global business questions and needs, with particular focus on those topics unique to working in the International business arena, including intercultural issues.

    Stephen Taylor. Executive Director
    the International Business Center

    Stephen Taylor is Senior Partner of the Sigma Two Group and Executive Director of the International Business Center, and he holds a Master of Arts degree in International Management Studies – Global Leadership from the University of Texas at Dallas School of Management. Stephen has held executive management positions in international business development, sales, marketing, and human resources at leading global companies, including Henkel, 3M Company, and Unilever. He has worked and traveled extensively throughout the world, and is currently based in Los Angeles. Curriculum Vitae

    Don’t miss the amazing new Firefly Magic Firefly Lights!

    What is a Country’s
    ‘Corruption Perception Index’ ?

    2013 – The International Corruption Perceptions Index (CPI) from Transparency International has been released. The report charts the perceived level of corruption in each of 176 countries.

    By utilizing a process of surveying perceptions by business people, academics and risk analysts, of the degree of corruption within a country, the numeric indexes will range between 10 (highly clean) and 0 (highly corrupt).

    So what are the results for this year? At the top of the list was Denmark, Finland, and Sweden with a CPI Index score of 90, followed by Sweden with 88 and Singapore at 87.

    At the other end of the scale, and considered the most corrupt nations on earth is Somalia, North Kores, and Afganistan at 8 with Sudan at 13 and Myanmar at 15, followed by Turkmenistan and Uzbekistan at 17.

    The report makes for good reading, and an excellent topic for discussion among international business managers, always concerned about risk, and the best way to hedge against potential losses.

    Also of note is that the first Corruption Perception Index in 1995 had the United States at 7.8(78 under new 0-100 scale). Now, 17 years later in 2012, the perceived corruption in the US has increased by 6.4% to a current CPI of 73 .

    Before your next visit and negotiation session in any country, perhaps it may be advantageous to look up the Corruption Perception Index?

    To review the complete listing of the Corruption Perceptions Index, including the methodology used, go to one of these locations:

    You can download the full eight CPI report in Acrobat PDF at this LINK

    It happens somewhere in the world everyday. Negotiations have been accelerating and both sides seem to be nearing a fruitful culmination. The end is in sight when suddenly it begins to unravel. Perhaps impatience to ‘close’ was the trigger, or frustration that one side seemed to be ‘back pedaling’. Whatever the reason, the deal has fallen apart and someone will be on the phone to explain this to the Executive VP of Global Marketing.

    Perhaps one of the most difficult aspects of international business is dealing with, and understanding, differences in culture. Visit the International Business Etiquette and Manners Website to learn details about cultures from over 35 Countries. MBA and Business Administration Degree students may find the information helpful for future international travels. The Site also has an explanation of Geert Hofstede’s world famous studies and analysis of cultural differences .

    The Hofstede analysis graphs are presented for each of the Countries, giving the global business person better insights to diversity.


    Red Alert:
    International Business Travelers

    As an international business person, we urge you to use extra caution and common sense when it comes to travel and visibility while on business or pleasure. This link leads to travel related topics and current travel warnings

    We want to thank Kimberley Roberts for her frequent contributions to our international Web sites:

    DISCLAIMER: This Website contains hyperlinks to other Web sites for the convenience, education, knowledge, news, and information of our visitors. However, we are not responsible or liable for the content, materials, words, images, information, or data on those Web sites.

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