Consumer credit Research Papers - Academia.edu (original) (raw)

2025, Deep Science Publishing

Artificial intelligence and machine learning are enabling financial institutions to expand access to credit. It has allowed for a democratization process that makes credit available to millions of 'real people with real families with real dreams.' Beyond the philosophical issues brought by the use of AI, a critical aspect of any credit decision is trust: that we can trust the bank to identify who can or cannot access credit; and that credit decisions are not serving as vehicles to sift. Unreliable data may drive undesirable outcomes. Among the most severe negative externalities is that financial institutions may inadvertently sort out plaintiffs for premiums that make access to credit expensive. Moreover, there are financial markets that are underbanked and for which AI and alternative data sources have the potential to open doors for thousands of individuals. However, as the risks are barely non-identical commingling that remains unresolved, developing counter-majoritarian machines with broader training can deliver unjustified or over-stochastic outcomes. The gender, ethnicity, and nativity biases are not an example; they are just the tip of the iceberg. Underbanking and affordability of finance are major issues faced by many individuals and families around the world, and the advancement of more considerate AI algorithms aiming at minimizing information asymmetries within the financial sector can contribute to tackling these problems . This short symposium piece discusses the implications of machine learning and artificial intelligence for consumer credit markets. It starts from a brief overview of underwriting,

2025, Deep Science Publishing

2025

It comes as no surprise that the growing influence of the internet and information technologies have ushered in the development of a medium of transacting or doing business called 'Electronic Commerce'. Pertinent concerns are raised as to whether this form of commerce guarantees parties' expectations and standards. Indeed, it is no gainsay that with such transactions lays a pointer to the entitlements and responsibilities of parties in the electronic contract/transaction. These aspects can be achieved through principles and doctrines that help aid parties in reaching a favourable contract outcome while acknowledging and/or with due regard to relevant legislation. As such, the aim of this paper is to ascertain the relevance of the 'Caveat' doctrine as a guide to electronic commerce transactions in Cameroon with a view to determining how useful it is in protecting the consumer in such transactions. Therefore, in achieving the said objective, the content analysis approach was adopted. Our findings reveal that the electronic commerce environment needs a more appropriate doctrine to guide commercial transactions between the buyer and the seller, and which particularly favours the protection of consumers who are most vulnerable in electronic contracts. This gives way for attention to be tilted to the 'Caveat Venditor' rule as a fundamental doctrine that assures consumer protection even in the realm of electronic commerce.

2025, SSRN Electronic Journal

2025, Rivista trimestrale di diritto dell'economia

Il contributo analizza il contenuto della Direttiva 2023/2225/UE sul credito ai consumatori (CCD II), con particolare riguardo agli artt. 8 e 9, che disciplinano rispettivamente le informazioni pubblicitarie di base e le informazioni... more

2025, Ilham Salhudin - Journal of Xi'an Shiyou University, ISSN: 1673-064X - https://www.xisdxjxsu.info/V340-361.html

The purpose of this study is to analyze: 1) Why do franchise agreements tend to be made by default? 2) Why is the content of franchise agreements that are in accordance with article 1320 often considered unfair to the franchisee?3) Is the application of the principle of good faith consistently able to create an ideal contract in the practice of franchise contracts that are in a standard form?. This research is a type of normative juridical research with a legislative approach, a conceptual approach, and a case study. The results of the study show that: 1) Standard contracts are very appropriate to be used in the franchise business when compared to negotiated agreements. Standard/standard contracts are not only used for large-scale business agreements, as they appear at every level of business transactions even small-scale businesses. 2) The first and second conditions in article 1320 of the Criminal Code are often called subjective conditions because they concern the parties to the agreement. The third and fourth conditions in article 1320 of the Criminal Code are called objective conditions, because they concern the object of the agreement. If the first and second conditions are not met, the agreement can be canceled. If the third and fourth conditions are not met, then the agreement is null and void, meaning that the agreement was originally considered to have never happened. 3) The inclusion of good faith in the implementation of the franchise agreement also means that we must interpret the agreement based on fairness and propriety. In the Civil Code, propriety (the principle of propriety) is stated in Article 1339 of the Civil Code which states that the agreement is not only binding for things that are expressly stated in it, but also for everything that according to propriety, custom or law.

2025, ResearchGate

This research concentrates on the design and implementation of a loan repayment prediction system for NIRSAL Plc., a non-financial institution dedicated to de-risking agriculture and supporting agribusinesses through credit risk guarantees. The primary aim of this system is to enhance the accuracy of loan repayment predictions, thereby minimizing the risk of loan defaults and improving the overall efficiency of credit approval processes. The project employs advanced machine learning algorithms and data analytics to analyze historical data on loan applicants, providing a robust tool for NIRSAL Plc. to assess creditworthiness and predict repayment likelihood. The implementation includes developing an interactive web-based platform using Python and the Flask framework, which facilitates data input, visualization, and predictive analysis. The model training involved using various algorithms, including Random Forest Classifier, Decision Tree Classifier, and Xgboost, the result shows that Xgboost performs best for predict loan repayments. The performance of these models was evaluated based on their accuracy and other relevant metrics. Consequently, Xgboost was picked for the development of the prediction system. The confusion matrices and other evaluation tables indicate a high level of prediction accuracy, demonstrating the system's effectiveness in identifying high-risk borrowers. By identifying high-risk borrowers, the system aids in making informed lending decisions and optimizing resource allocation, ultimately reducing nonperforming loans and fostering financial inclusion within Nigeria's agricultural sector. Additionally, the system can provide targeted support to borrowers facing repayment challenges, thereby enhancing the overall performance-wise of financial institutions lending to the agricultural sector. Generally, this project contributes to the body of knowledge in financial technology and loan management, offering a scalable solution to enhance credit risk management practices in the agricultural value chain sector.

2025, Journal of Business Research

Consumer over-indebtedness has increased globally in recent decades, along with consumer credit. This article presents a systematic literature review on the topic of consumer over-indebtedness, consolidating extant knowledge, identifying broad patterns, and establishing future directions for this fast-growing research domain. We develop a comprehensive analysis and integrative review of the topic, analyzing 136 articles published in 76 journals over 50 years (from 1969 to 2019) across the academic disciplines of Economics, Marketing, Finance, Psychology, and Social Sciences. We present a framework for organizing the literature streams, theories, and main variables related to consumer over-indebtedness. Finally, we identify inconsistencies and under-researched areas, suggesting a future research agenda relevant to academics, practitioners, and policymakers.

2025, TÜRKİYE'DE BANKA KREDİLERİ İLE İKTİSADİ BÜYÜME ARASINDAKİ NEDENSELLİK İLİŞKİSİNİN ANALİZİ

İktisadi büyüme, bir ekonominin refah düzeyini artıran, yaşam standartlarını yükselten ve uzun vadeli kalkınmanın temelini oluşturan en kritik dinamiktir. Dolayısıyla iktisadi büyümenin kaynakları, belirleyicileri ve sonuçları çokça tartışılmakta, sermaye birikimi, teknolojik ilerleme ve finansal gelişme gibi faktörlerin iktisadi büyüme üzerindeki etkileri birçok akademik çalışmanın konusunu oluşturmaktadır. Finansal gelişme, birçok yönden iktisadi büyümeyi etkilemektedir. Etkin çalışan bir finansal sistem sermaye akışını hızlandırarak yatırımları teşvik etmek suretiyle iktisadi büyümenin en güçlü belirleyicilerinden biri haline gelmektedir. Finansal sistemin en önemli bileşeni ise bankalardır. Bankalar, sundukları hizmetlerle finansal sistemin sağlıklı bir şekilde işlemesine yönelik birçok fonksiyonu yerine getirmektedir. Tasarruf sahiplerinden fonların toplanması ve bu fonların hanehalkı ile firmalara kredi olarak verilmesi, iktisadi büyümenin temel taşlarını oluşturan tüketimin ve yatırımların gerçekleşmesine olanak sağlaması açısından bankaların en önemli fonksiyonlarıdır. Diğer yandan bankalar, para politikalarının uygulanmasında merkezi bir rol üstlenmektedir. Bankalar, kredi verme faaliyetleriyle kaynakların tahsis ve dağıtım faaliyetlerini gerçekleştirdiklerinden, politika uygulayıcıları bankaların kredi verme davranışlarını etkileyerek sermaye akışını hedeflenen alanlara yönlendirebilmektedirler. Banka kredi kanalı olarak adlandırılan bu mekanizma para politikası otoriteleri tarafından iktisadi büyüme hedeflerine ulaşmak için kullanılmaktadır. Tarafımızca, banka kredi kanalının etkin bir şekilde çalıştığı finansal sistemlerde banka kredi hacmindeki artışların iktisadi büyümeyi teşvik edeceği düşünülmektedir. Yukarıdaki önermelerden hareketle, banka kredi hacminin iktisadi büyüme üzerindeki rolünün ortaya koyulmasının, para politikalarının etkinliğini sağlama açsından, politika uygulayıcılarına önemli bilgiler sunacağı aşikardır. Bu motivasyonla gerçekleştirilen bu çalışmanın amacı, Türkiye'de yurtiçi banka kredi hacmi ile iktisadi büyüme arasındaki nedensellik ilişkisinin 2003Ç1-2024Ç1 dönemine ait üçer aylık veriler kullanılmak suretiyle analiz edilmesidir. Bu bağlamda, ilgili dönemlere ait; "Tüketici Kredileri ve Bireysel Kredi Kartları Hacmi", "Ticari Krediler ve Ticari Kredi Kartları Hacmi" ve "Toplam Kredi Hacmi" bağımsız değişkenleri ile GSYH arasındaki nedensellik ilişkisi ayrı ayrı araştırılmıştır. Çalışmada, verilerin durağan olup olmadıklarını test etmek için genişletilmiş Dickey-Fuller (ADF) birim kök testi ve Phillips-Perron (PP) yapısal kırılmalı birim kök testi kullanılmıştır. Akabinde, nedensellik ilişkisi Granger nedensellik testi ve Toda-Yamamoto nedensellik testi ile analiz edilmiştir. Ek olarak, değişkenler için varyans ayrıştırması analizi yapılmıştır. Her iki nedensellik testi sonucunda her bir bağımsız değişkenden iktisadi büyümeye doğru tek yönlü nedensellik tespit edilmiştir. Ayrıca, Toda-Yamamoto nedensellik testi sonuçlarına göre ticari krediler ile GSYH arasında çift yönlü nedensellik bulunmuştur. Yapılan varyans ayrıştırması analizine göre ise banka kredilerinin iktisadi büyümede sınırlı da olsa rol oynadığı belirlenmiştir. Elde edilen bulgular literatürdeki arz öncüllü hipotezi destekler niteliktedir.

2025

The God of all grace, Who has called you to His eternal glory in Christ Jesus, will Himself complete and make you what you ought to be, establish and ground you securely, and strengthen, and settle you. (1 Peter 5:10) Consumer financial vulnerability is the personal feeling of being in a financially unstable situation. Causal chain analysis is a means of tracing the immediate or direct causes of an impact or problem back to its root causes. Causal chain analysis requires the development of conceptual models that represent the chain of cause-effect relationships in which activities lead to changes, changes lead to impacts, and impacts lead to responses. It is possible to trace both forwards and backwards linkages, and deeper understanding can often be achieved by doing both. Credit active consumers are consumers obligated to pay credit providers and/or service providers, etc. These obligations result in transactional entries on the consumer's credit record at the credit bureaus. Mashonisa loan is a loan obtained from a township moneylender who lends out his/her money for profit. Stokvel is an informal savings club with other people.

2025

2025, Working Papers

This paper explores the relationship between consumer credit clients' payment performance ie credit default risk and some demographic and financial variables. Data to examine this relationship is obtained from the customer records of... more

2025, Congresso Nazionale di diritto bancario, finanziario e assicurativo in due atti e tre scene ATTI DEL CONGRESSO

SOMMARIO: 1. Le tutele previste dalla Mortage Credit Directive. – 2. Gli obblighi di comportamento. – 3. La valutazione del merito di credito. – 4. Incidenza della valutazione del merito di credito sul contratto di finanziamento. Valutazione positiva e discrezionalità dell’intermediario di concludere il contratto. Valutazione negativa e obbligo di astensione dalla conclusione del contratto. – 5. Conclusione del contratto in assenza di merito di credito quale pratica commerciale ingannevole. – 6. Conservazione del rapporto, superamento del dogma della sacralità del contratto e intervento perequativo del giudice.

2025, SSRN Electronic Journal

Existing studies are not conclusive in favor of a strong relationship between the financial literacy and the ability to take better borrowing decisions. Results are quite heterogeneous and often point out the relevance of other factors, such as socio-demographic features or practical experience gained with daily use of financial products. The impact of (the amount and quality of) information available at the time of consumer choice is still unexplored. The objective of this paper is to fill in this literature gap and explore a large set of possible drivers of borrowing decisions in the consumer finance framework, with a specific focus on the transparency of price conditions. We interviewed a sample of 299 consumers. They were asked to select the best option between five series of credit alternatives. In order to explore the role of transparency, each series of loans was presented with three different sets of information, with an increasing level of detail. The ability to select the best alternative was measured calculating a score based on the Net Present Value criterion, and analysed as the dependent variable of a regression model with demographic, socioeconomic and financial characteristics as predictors. Our findings show that the amount and quality of available information strongly influence the choice. At the same time, an high level of education do not seem to play a significant role. Financial maturity results to positive influence the ability to select the best alternative and employed people perform better than non-working respondents.

2025

Günümüzde bankacılık sektöründe bankaların müşterilerine sundukları ürün ve hizmetler çok çeşitlilik göstermektedir. Bankalar, klasik anlamda hizmet vermelerinin yanında günümüzde aracılık hizmetleri, danışmanlık hizmetleri, bireysel emeklilik hizmetleri, kur korumalı mevduat hizmetleri, altın alış satış ve altın bozum işlemleri, sigortacılık hizmetleri ve her türlü kredi hizmeti vermektedirler. Bankaların sundukları çok çeşitli hizmetler sonucunda almış oldukları ücret komisyon ve masrafların farklı kalemlerde alınması sonucunu doğurmuştur. Ülkemizde faaliyet gösteren bütün bankaların almış oldukları ücret ve komisyonlarda bir standartlık olmaması bankaların bu konuda müşterilerden sürekli şikâyet alması sonucunu doğurmuştur. Konuya kayıtsız kalmayan kanun koyucu bankaların alması gereken ücret ve komisyonların sadeleştirilmesi noktasında çok çeşitli yönetmelikler çıkarmıştır. Bankalarında sunmuş oldukları hizmetler sonucunda almış oldukları ücret ve komisyonların bu yönetmeliklere tam uyumu beklenmiştir. Ancak uygulama kısmında bankaların almış oldukları ücret ve komisyon kalemlerinde bir standartlık olup olmadığı günümüzde bile tartışılan önemli konulardan biri haline gelmiştir. Bu çalışmada BDDK tarafından uygulamadan kaldırılan ve bankalarca artık alınamayacak ücret ve komisyonlara değinilmiştir. Ayrıca ücret ve komisyon ödemek istemeyen mudilerin ne yapmaları gerekeceği ve mevcut alternatif kanallar önerilmiştir. Sonuç olarak ülkemizdeki bankaların almış oldukları ücret komisyon ve masrafların standart bir şekilde alınması gerektiği kanun koyucu tarafından çıkarılan yönetmeliklere bankaların tam uyması gerektiği anlatılmıştır. Bankaların mevcut yasa, yönetmelik, tebliğ, tüketici hukuku gibi müşterilerin hak ve menfaatlerini koruyacak eylemde bulunmaları vatandaşlarında bankalara bakışını olumlu yönde etkileyecektir. Bu sayede, piyasada bulunan atıl fonların bankacılık ve sermaye piyasasına kazandırılması sonucu ülkemizin büyümesi ve kalkınmasına olumlu katkı sağlanmış olacaktır. Ayrıca bankaların uzun vadeli fon gereksinimleri çok çeşitli yatırım enstrümanlarıyla sağlanmış olacaktır.

2025

2025, HAL (Le Centre pour la Communication Scientifique Directe)

This article aims to describe the sociological studies of credit developed in France over the past dozen years. These studies propose a specific method and approach to address credit, primarily understanding it as a result of social interactions embedded in organizational and legal structures, with consequences on inequalities, social stratification, and individuals' life experiences. The article is divided into four parts: after an introduction presenting what can be called the French school of the sociology of credit, we present the 'different voice' of the French school of the sociology of credit, which analyses the credit market according to a relational approach. The third section examines the construction of social domination at the moment of credit assessment. We then focus on the demand side: borrowers are not atomized individuals but part of households and other local communities. Finally, the conclusion discusses how this French approach to credit may be useful outside of France.

2025

Inaedificatio entails that movables that have been permanently attached to land through building cease to exist as independent things and become part of the land. Courts have adopted different approaches over time to investigate whether or not inaedificatio had occurred. It is sometimes said that courts have moved away from the so-called traditional approach, which focused on the objective factors, to the socalled new approach, which places more emphasis on the subjective intention of the owner of the movables. This thesis analyses the applicable case law and concludes that there is inadequate proof of such a shift since both older cases associated with the traditional approach and later cases associated with the new approach emphasise the intention of the owner of the movables to establish whether accession had taken place. However, the case law does allow for a cautious different conclusion, namely that a certain line of both older and new cases emphasise the owner of the movable's intention for commercial policy reasons, specifically to protect ownership of the movables in cases where ownership had been reserved in a credit sale contract. Constitutional analysis of these conclusions in view of the FNB methodology indicates that the courts' decision to hold that accession had in fact occurred in cases that do involve permanent attachment of movables to land will generally establish deprivation of property for purposes of section 25(1) of the Constitution, but such deprivation would generally not be arbitrary since there would be sufficient reason for it. However, in cases where the courts decide that there was no accession because ownership of the movables had been reserved subject to a credit sale agreement, there is no deprivation of property because the landowner, who is the only one who might complain about the decision, could not prove a property interest for purposes of section 25(1). Moreover, the courts' decision that accession had either occurred or not does not amount to expropriation under section 25(2) of the Constitution because there is no common law authority for expropriation. Therefore, the principal conclusion of the thesis is that the courts' decision that accession had either occurred or not would generally be in line with the property clause of the Constitution.

2025

Credit card rates have been shown to be very high and non-responsive to the changes in the costs of funds. The failure of price competition led to a shift of interests from price to non-price competition in these markets. Credit card issuers create switching costs for their customers by providing non-price benefits. These benefits are either direct benefits that depend on credit card usage or indirect benefits that arise from the convenience and quality of the general services of the issuer bank. This paper empirically investigates the nature of non-price competition in the Turkish credit card market using panel data, introducing the first study of this kind for an emerging market. As the main result, a significant and robust positive relationship between switching costs and credit card interest rates is obtained, confirming that as non-price benefits increase, banks charge higher credit card interest rates to their customers.

2025, Annals of the University of Petrosani Economics

The paper aims to present the Romanian insurance market size and her place in the international insurance trade, comparing our market with markets of different countries from the major regions of the world, using different indicators for sizing and comparison. Then will be presented some solutions for insurers to overcome after the financial crisis and recovery their activity.

2025, Cuadernos de Economía

This paper analyses a multi-sector market economy where preferences are non-homothetic and satiable. Capital and labour are the production factors. Food and manufactured goods are produced with a constant-returns-to-scale technology and an increasing-returns-to-scale technology, respectively. Results include: an original capital accumulation process is required for manufacturing industrialization to take place, a minimum market size is needed for the economy to operate, and capital property concentration diminishes aggregate demand. Full general equilibrium is possible for intermediate degrees of capital concentration, but the price system collapses under high degrees as an economy regulator, labour unemployment is unavoidable, and a minimum wage is justified to enhance economic activity.

2025

No. This paper develops a simple equilibrium model of a bank that benefits from subsidized insured deposits and endogenously selects the characteristics of its credit risk exposure. The model is used to analyze the traits of a bank’s optimal loan portfolio under the regulatory capital requirements of the 1988 Basle Accord and the alternative regulatory capital rules proposed in the New Basel Accord (NBA) Consultative Document. The analysis shows that, while the proposed changes reduce the value of the deposit insurance subsidy relative to levels attainable under the 1988 Accord, the proposals create unintended consequences that are not aligned with regulatory interests. For example, banks using either of the proposed Internal Ratings Based (IRB) approaches will face incentives to construct loan portfolios that generate large losses should a bank default. Such incentives are at odds with the objective of least cost resolution mandated in FDICIA. Moreover, because they create conditio...

2025, Social Science Research Network

Consumer credit in the proportion of household debt has been largely increased in developed and underdeveloped nations. The notion is widely extended during last two decades. This paper seeks to examine the involvement of psychological characteristics in credit related choices of Pakistani people. A large extent of literature widely acknowledged that these factors significantly influence the behavioral intention. The study point of this research is to examining the role to attitude towards the household decision making choices. Attitude is further characterized with three further dimensions including cognitive, emotional and behavioral components. The finding reveal that attitude strongly influences the consumer credit decision by motivating towards spending behavior in the sense of well-being. While enriching the existing literature of consumer credit, the research also helps in the assessment of household economic benefits and expectation.

2025, Revista de Derecho Privado (Universidad Externado de Colombia)

La identificación de los aspectos nucleares que suscita el despliegue generalizado de la robótica es una tarea titánica en la que se ha ocupado un nutrido y selecto grupo de expertos en la obra Derecho de los robots, dirigida por Moisés Barrio Andrés, una investigación cuyo título esclarecedor anticipa la incorporación inexorable de la inteligencia artificial (IA) y la robótica en el plano jurídico y preludia un nuevo sector jurídico con nombre propio: el derecho de la robótica o, específicamente, el derecho de los robots.

2025

Dissertation zur Erlangung des akademischen Grades eines Doktors der Wirtschaftswissenschaften: Doctor rerum politicarum (Dr.rer.pol.) am Fachbereich Wirtschaftswissenschaften der Universität Konstanz vorgelegt von

2025

2024, Erciyes Üniversitesi Hukuk Fakültesi Dergisi

Türk hukukunda konusu para olan tüketim ödüncü sözleşmeleri, Borçlar Kanunu ve Tüketicinin Korunması Hakkında Kanun'da düzenlenmiştir. Ticari ödünç sözleşmelerinde taraflar arasında kararlaştırılmamış olsa dahi faiz istenebileceği Borçlar Kanun'unda açıkça düzenlenmiştir. Tüketicinin Korunması Hakkında Kanun'da da "tüketici kredisi sözleşmeleri, kredi verenin tüketiciye faiz veya benzeri menfaat karşılığında ödünç veya benzeri finansman araçlarıyla kredi verdiği veya kredi vermeyi taahhüt ettiği sözleşme" olarak tanımlanmıştır. Bu tanımdan da ödünç verenin faiz alma hakkının bulunduğu sonucu çıkarılmaktadır. Bu tip sözleşmelerde tüketici ve tacirler bazı sebeplerle kısmi ödemede bulunma ya da yeniden yapılandırma yolunu tercih etmektedirler.

2024, in Rivista di diritto bancario, 2024, fasc. 3, p. 825 ss.

La crisi dei mutui subprime ha confermato l'importanza che riveste la valutazione del cd. “merito creditizio” in ambito bancario. Tale attività, basata sulla raccolta e l’elaborazione di dati, non è stata però compiutamente disciplinata... more

2024

Currently, the level of the economy in relation to banking operations is causing concern in the DRC. Especially since 12.5% of Congolese have a bank account and 15% of savers use banks in the DRC. Others rely on other financial structures, hence the limit of local banks to finance the entire economy. The objectives of this article are to show the impact between banking and teachers' savings, and to uncover the innards of banking on teachers' access to credit. In order to achieve the assigned objectives, this article uses the inductive method with an inferential and descriptive statistical approach. After empirical analysis of the data, the result emerges that the issue of savings would be much more independent of banking because the increase in the number or the number of new banked teachers does not evolve proportionally with their decision to save because of the low income they receive. And the existence of difficulties prevents teachers from having access to credit because of bank refusals, the low salary which does not inspire confidence, because of the inaccessible granting process, or even the inability of certain banks to grant because of their difficult financial situation

2024

Koncept avtonomije strank v pogodbenem pravu izhaja iz predpostavke, da lahko stranki svoje razmerje avtonomno uredita bolje in natančneje, kot bi to storil zakonodajalec. Priznavajo ga vse moderne ureditve, vendar neskončna avtonomija ni mogoča. Kreditna pogodba, kjer se v tipični konstelaciji srečata močni kreditodajalec in šibki kreditojemalec, je primer pogodbenega tipa, kjer je razprava o potrebi po omejevanju pogodbene avtonomije posebej smiselna. To ni le zaradi občutljivosti družbe za ekscesne pojave, ki spremljajo kreditiranje. Razpravo izziva tudi izjemen narodnogospodarski pomen dostopa do kreditov. V disertaciji analiziram razloge ter izpeljavo omejitev avtonomije strank v kreditni pogodbi. V drugem poglavju povzemam zgodovino kredita in ideje pogodbene svobode, da bi se nato v dveh osrednjih poglavjih posvetil omejitvam v današnjem pozitivnem pravu. Po primerjalni študiji nemške, švicarske in angleške ureditve v tretjem poglavju, nalogo v četrtem poglavju nadaljujem s p...

2024

Após certo tempo do uso de um produto ou serviço, o indivíduo tende a sentir menos prazer com o consumo. Esse processo de redução do prazer é chamado adaptação hedônica. Uma das emoções que interferem nesse mecanismo é a surpresa. Por meio de dois estudos experimentais, sugere-se que a surpresa negativa, diferentemente da positiva, interfere no nível de prazer previsto e vivenciado pelo consumidor. O Estudo 1 analisa a influência da surpresa negativa (vs. positiva) na previsão da adaptação hedônica pós-compra. Os resultados mostram que a surpresa negativa influencia na intensidade da adaptação, aumentando sua força. O Estudo 2 verifica a influência da surpresa negativa (vs. positiva) na adaptação hedônica. Os achados demonstram que a adaptação ocorre de forma mais rápida quando há surpresa negativa. Em resumo, a ocorrência da surpresa negativa faz com que a adaptação hedônica seja mais rápida e intensa ao longo do tempo, trazendo consequências para empresas e consumidores nos processos pós-compra, relacionados à satisfação e lealdade.

2024, National Bureau of Economic Research

This paper explores the implications of technological progress in consumer lending. The model features households whose endowment risk is private information, and intermediaries which observe a noisy signal of each borrower's default risks. To offer a lending contract, an intermediary incurs a fixed cost. Each lending contract is comprised of an interest rate, a borrowing limit and a set of eligible borrowers. Technological improvements which lead to more accurate signals of a borrowers type or lower the cost of offering a contract increase the number of contracts offered and lead to the extension of credit to riskier households. This results in higher aggregate levels of defaults and borrowing. To corroborate the predictions of the model, we examine data on credit card borrowing reported by households in the Survey of Consumer Finance. We find that the number of different credit card interest rates reported (one measure of the "number" of contracts) has increased, that the empirical density of credit card interest rates has become much more disperse and lower income households' share of outstanding credit card debt has increased since 1983.

2024, DOAJ (DOAJ: Directory of Open Access Journals)

2024, RePEc: Research Papers in Economics

We review process generated data sources and new technologies that could be used to improve the measurement of household finances. The sources include data generated by financial aggregator services, customer loyalty programmes, credit/debit card transactions, and credit rating agencies. The technologies include scanning of barcodes or shopping receipts and smartphone applications. For each of the data sources and technologies, we review what, if anything, is known about (i) the content of what can be measured, (ii) examples of research for which these data have been used, (iii) whether the data have been used as free-standing data sources or linked to probability sample surveys, and (iv) the quality of the data regarding representativeness and measurement quality. The review is structured around an adapted version of the Total Survey Error framework we have developed for evaluating these new data sources, and concludes with a discussion of implications for survey practice and research needs.

2024

TARIQ, FARIHA. Investigation of Incremental Housing Processes based on Microfinance: Implications for Policies and Practice. (Under the direction of Robin C. Moore.) The majority of houses in Pakistani cities, as in other developing countries, are not built by the government or the private sector but by the people who live in them. Owner-built housing is still the most popular form of housing production in the region, among all income groups and across all types and qualities of housing. There are good reasons for this: when people build themselves (or hire their own carpenters, masons or small contractors to build for them), they can control the whole process and build the house that precisely suits their tastes, their needs, their aspirations, and their resources. Housing is a major place-based infrastructure element and an integral part of the community fabric. The 'basic needs' approach introduced by the International Labour Organization in 1976 included shelter along wi...

2024, IAEME PUBLICATION

This article explores the transformative integration of Artificial Intelligence (AI) and Machine Learning (ML) in credit card customer assessment using bureau data. With the global AI in fintech market projected to reach $46.8 billion by 2030 growing at a CAGR of 23.4%, financial institutions are increasingly leveraging advanced technologies to enhance credit decisioning processes. The article examines how AI and ML technologies improve the credit card application process through comprehensive analysis of traditional credit data, alternative data sources, and real-time behavioral patterns.
The implementation of these technologies has demonstrated significant improvements across key performance metrics: a 20% increase in applicant approvals while simultaneously reducing default rates by 30%, and a dramatic reduction in processing time from 7 days to 14 seconds. Through analysis of current practices, technical implementations, and future developments, the article addresses critical challenges in data privacy, system integration, and ethical considerations while providing strategic recommendations for financial institutions implementing AI-driven customer identification processes. The findings suggest that successful integration of AI and ML can significantly improve risk assessment accuracy, operational efficiency, and customer experience in credit card issuance.

2024

This dissertation re-evaluates the Constitutional Court's approach to deprivation of property since the seminal decision in First National Bank of SA Ltd t/a Wesbank v Commissioner, South African Revenue Service; First National Bank of SA Ltd t/a Wesbank v Minister of Finance (FNB), with a particular focus on the Court's constitutional interpretive framework, the FNB questions and the FNB methodology. Whether the Constitutional Court's approach, beginning with FNB and advanced in subsequent cases, has established any clarity regarding the Court's constitutional interpretive framework, the FNB questions and the methodology is further investigated. Core concepts emanating from the FNB questions such as the meaning of "property" and "deprivation", as well as specific issues regarding the requirements for a valid deprivation, such as law of general application and the substantive arbitrariness test are analysed. The dissertation further focuses on the inconsistencies and the fact that there is a lack of clarity regarding the position of the Court on core concepts. These core concepts include the meaning of "property", "deprivation", and the application of the requirements for a valid deprivation such as law of general application and the substantive arbitrariness test. The dissertation also shows that there are inconsistencies and a lack of clarity regarding how the Court's constitutional interpretive framework is relied upon to decide the FNB questions. Moreover, the methodology that was established by the Court in FNB to resolve constitutional property disputes is not strictly adhered to and in some cases, seems to have resulted in a vortex effect. It is revealed in this dissertation that the Court's lack of clarity and consistency in its approach regarding the issues above, complicates the section 25(1) inquiry and makes future case law on section 25(1) disputes unpredictable. Therefore, the dissertation analyses and evaluates the developments in post-FNB case law in light of scholarly work and theoretical frameworks and concludes by making recommendations for the adjudication of section 25(1) disputes that will arguably make the outcome predictable Stellenbosch University iii Opsomming Hierdie proefskrif herevalueer die Konstitusionele Hof se benadering tot die ontneming van eiendom sedert die beslissende uitspraak in First National Bank of SA Ltd t/a Wesbank v Commissioner, South African Revenue Service; First National Bank of SA Ltd t/a Wesbank v Minister of Finance ("FNB"), met 'n spesifieke fokus op die hof se grondwetlike interpretatiewe raamwerk, die FNB-vrae en die FNB-metodologie. Of die Konstitusionele Hof se benadering, wat begin het met FNB en in daaropvolgende sake uitgebrei is, tot enige duidelikheid ten opsigte van die hof se grondwetlike interpretatiewe raamwerk, die FNB-vrae en die metodologie gelei het, word verder ondersoek. Kernbegrippe wat voortspruit uit die FNB-vrae, soos die betekenis van "eiendom" en "ontneming", asook spesifieke kwessies rakende die vereistes vir 'n geldige ontneming, soos algemeen geldende reg en die toets vir substantiewe arbitrêre ontneming, word verder ontleed. Die proefskrif fokus verder ook op die teenstrydighede en die feit dat daar 'n gebrek aan duidelikheid rakende die hof se standpunt oor kernbegrippe bestaan. Hierdie kernbegrippe sluit die betekenis van "eiendom" en "ontneming" asook die toepassing van die vereistes vir 'n geldige ontneming, soos algemeen geldende reg en die toets vir substantiewe arbitrêre ontneming, in. Die proefskrif dui ook verder aan dat daar teenstrydighede en 'n gebrek aan duidelikheid rakende hoe daar op die hof se grondwetlike interpretatiewe raamwerk gesteun moet word om die FNB-vrae te beslis, bestaan. Daarbenewens word die metode wat deur die hof in FNB ingestel is om geskille oor grondwetlike eiendom te besleg, nie streng nagekom nie, en blyk dit in sommige gevalle om 'n draaikolk-effek te hê. Dit word in hierdie proefskrif bloot gelê dat die gebrek aan duidelikheid en konsekwentheid van die hof in sy benadering tot die kwessies hierbo, die ondersoek van artikel 25(1) bemoeilik en toekomstige regspraak wat oor artikel 25(1)-geskille handel, onvoorspelbaar maak. Die proefskrif ontleed en evalueer dus ook die ontwikkelinge in post-FNB regspraak in die lig van akademiese werke asook teoretiese raamwerke en sluit af deur aanbevelings vir die beoordeling van artikel 25(1) geskille, wat waarskynlik die uitslag voorspelbaar sal maak, te maak. Stellenbosch University At the time when I was writing this dissertation, my then co-supervisor Prof AJ van der Walt passed away. I gained immensely from his guidance, mentoring and profound expertise of constitutional property law. I also wish to express my gratitude to Dr Nzumbululo Siphuma for reading and providing valuable comments on some of the chapters of this dissertation. I again thank Chantelle Hough Louw for her eagerness to provide services for editing this dissertation. Thanks to Prof Z Boggenpoel, the Chair of the South African Research Chair in Property Law, for ensuring that the dissertation is edited. Thank you to my colleagues and friends at the South African Research Chair in Property Law for creating an inspiring and pleasant research space that aided in the accomplishment of this dissertation. The seminars we hosted and the local and international conferences I attended through the support of the South African Research Chair in Property Law afforded me with broader knowledge and understanding of property law.

2024, Çankırı Karatekin Üniversitesi sosyal bilimler enstitüsü dergisi

This research paper aims to investigate the impact of financial development on economic growth in Turkey over the period 1970-2006. Using the ARDL bounds testing approach to cointegration, the results suggest that financial development plays an important role in enhancing economic growth in Turkey. The estimated equation remains stable over the period of study as indicated by stability tests. The results of the Granger causality tests indicate that the Turkish case supports the supply-leading phenomenon in the long run, whereas both the supply-leading and the demand-following phenomena in the short run.

2024, Bristol University Press eBooks

2024, RePEc: Research Papers in Economics

The paper assesses the extent to which mortgage rates in Italy are priced according to credit risk as proxied by the probability of household mortgage delinquency estimated using the EU-Silc database. For reasons of data availability we restrict the analysis of mortgage pricing to Italian households. Consistent with the more extensive use of credit scoring techniques, our estimates indicate that Italian lenders have increasingly priced mortgage interest rates with reference to credit risk. For mortgages granted between 2000 and 2007, a 1 percentage point increase in the probability of default is associated with a 21 basis point rise in mortgage interest rates, less than the 38 basis point premium Edelberg (2006) estimated for the U.S. at the end of the '90s.

2024, Annals of the University of Petrosani Economics

Whereas both worldwide and locally financial problems aggravate, it is hard to believe that people would search protection in life insurance policy, although in these times people's need to be protected is much higher. Having in mind our possible future situation, when we might be in an economic impasse, the solution could be to contract a life insurance, which could basically provide protection, but on a long term, it might be a means of saving.

2024, International Journal of Academic Research in Accounting Finance and Management Sciences

The quality of the services delivered on the health insurance market generates significant effects in the financial situation of the companies and of the individuals. Any perturbation in the system is of nature to contribute to the occurrence of the phenomena of economic and social crisis and, for this reason the normal functioning of the system is an essential landmark for insuring the stability of the economy and of the society, in their ensemble. The specific of the activity developed by the institutions operating on that market, the connections between the respective entities and the influences exerted on the economic and social area led to the idea that, like other segments on the financial market, the operations run on the health insurances market must be submitted by law to some specific regulations and, in the same time, to some supervising and control procedures, known as prudential supervision. Another argument in favour of the regulation and the supervision of the private health insurances is given by the fact that they make a unique combination, in its way, between the investors' interests on this market and the necessity to the insure the social security.

2024, The abuse of power & influence by credit institutions against borrowers

At the stage before concluding a loan agreement between the credit institution and the prospective borrower, the inequality regarding the negotiating power of the parties reaches its peak in order to complete the agreement. The pressure to agree on the contract clauses, which usually reflects the imbalance of rights and obligations between the two parties and while several of which are abusive, is not a neutral pressure, but the pressure of the financially and authoritatevely strong against the financially weak and mentally vulnerable. And this is despite the fact that the basic terms have previously been judged by case law or even legislated as abusive.

2024

Non-Banking Financial Companies play a crucial role in inclusive growth of an economy. The present scheme of NBFC sector is very vibrant and competitive. To gain a market dividend it is essential for NBFCS to enlarge the customer base. Since Kerala is a 'Consumer State', consumers are very much conscious about the qualitative financial services and institution, further they have wide choices to switchover. Hence, for retention of customers, NBFCs are ought to render quality services. This study focuses on the financial service quality of state owned and privately owned NBFCs in Kerala. It also attempts to relate financial service quality gaps to tenure of finance and brought in a new model, 'Term based FSQ Model'. The study outcome reveals that service gap score is lower in privately owned NBFC than state owned one. Legal formalities and high rate of interest are the most constraints felt by the borrowers while availing financial service from state owned and privately owned NBFCs respectively. Significant difference in Reliability and negligible difference in Responsiveness dimension were observed between State owned and privately owned NBFCs.

2024

Institutional inversion occurs when collective attitudes lead to institutions that in turn lead to behaviors that are the opposite of those attitudes. We illustrate this process with the case of debt, in which antidebtor attitudes in Protestant (vs. Catholic) cultures led to institutions that fostered higher household indebtedness. We describe three factors hypothesized to make institutional inversion more likely: erroneous lay theories (particularly those that take a “demand-side” vs. a “supply-side” view of culture), moralization, and narrow construals (in terms of time, goals, and
populations considered).

2024

Mapping debt services (190804) Contributors: The information on debt advisory services and debt settlement procedures in this report is largely based on input received from the Network of Eurofound Correspondents, further supported by Eurofound's own research and input from an expert meeting in Dublin (20 August 2019), and an expert workshop in Brussels (4 September 2019).