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This research uses public information and represents an analysis of how the capital markets will be considered as an alternative for the microfinance entities in order to obtain better interest rates and new financial alternatives (diversify their capital structure) as well as develop their corporate governance (Bolaños et al., 2014). Peru has been one of the fastest growing Latin American countries in recent years. In microfinance, Peru has achieved considerable growth over time. According to the Interamerican Development Bank (IDB) and Coporación Andina de Fomento (CAF), Peru is a country with the best conditions for microfinance in region of Latin America and the Caribbean. This is reflected, in part, by a larger portfolio of microfinance loans and the best business environment in the region (IDB, 2010). We start by reviewing the history of this industry for the period 2009–2013. This overview will facilitate an understanding of this industry, its development, and the main participants in this sector; then we proceed by exploring the market structure, its nature, its characteristics, and the supply and demand forces, including the competitors and the size of the Peruvian financial sector. Finally, we focus on the process followed by Caja Municipal de Huancayo (CMAC) in order to list bonds and commercial liabilities on the Lima Stock Exchange, taking into consideration the regulation process; finally, the results of the operation are presented, This review will give a better understanding about the process of development for microfinance entities in a volatile macroeconomic context.

Due to its high leverage nature, a bank suffers vitally from the credit risk it inherently bears. As a result, managing credit is the ultimate responsibility of a bank. In this chapter, we examine how efficiently banks manage their credit risk via a powerful tool used widely in the decision/management science area called data envelopment analysis (DEA). Among various existing versions, our DEA is a two-stage, dynamic model that captures how each bank performs relative to its peer banks in terms of value creation and credit risk control. Using data from the largest 22 banks in the United States over the period of 1996 till 2013, we have identified leading banks such as First Bank systems and Bank of New York Mellon before and after mergers and acquisitions, respectively. With the goal of preventing financial crises such as the one that occurred in 2008, a conceptual model of credit risk reduction and management (CRR&M) is proposed in the final section of this study. Discussions on strategy formulations at both the individual bank level and the national level are provided. With the help of our two-stage DEA-based decision support systems and CRR&M-driven strategies, policy/decision-makers in a banking sector can identify improvement opportunities regarding value creation and risk mitigation. The effective tool and procedures presented in this work will help banks worldwide manage the unknown and become more resilient to potential credit crises in the 21st century.

The development of financial markets as well as a country’s overall financial system plays a crucial role in the evolution of the world’s real economy. In developed countries like the USA, UK, Japan, and European nations, the world’s financial centers are located for exchanging huge capital flows with well-established functioning. However, laying the foundation for a financial center can be a big challenge to developing markets whose financial systems are still in the early stages, since the formation of financial centers is determined by multiple factors. Motivated by that reason, this book chapter provides a comprehensive review of critical determinants in the formation of international financial centers, including (i) economic growth; (ii) governance and business environment; (iii) financial development; (iv) labor force; (v) infrastructure accessibility; and (vi) the country’s reputation and stability. In line with the reviewed literature, the study particularly highlights the recent political and technological developments in the world and their impacts on the future of different financial centers worldwide.

From the supplier firm's perspective, a referral is a recommendation from A (the referrer) to B (the potential customer) that B should, or should not, purchase from C (the supplier firm). Thus, as referrals are for a specific supplier firm, they should be viewed as part of the supplier firm's marketing and sales activities. We recognize three types of referrals – customer-to-potential customer referrals, horizontal referrals, and supplier-initiated referrals – that have critical roles in a potential customer's purchase decision. We develop the concept of referral equity to capture the net effect of all referrals for a supplier firm in the market. We argue that supplier firms should view referral equity as a resource that has financial value to the firm as it affects the firm's cash flows and profits. We offer strategies firms can use to manage referrals and build their referral equity and suggest a research agenda.

We examine the impact of the COVID-19 pandemic on the functioning of university students with disabilities using assistant support services in Poland. The study aims to (1) reveal the role existing university-based assistant services play in students' lives and (2) examine the impact of the pandemic on assistant services by students with disabilities.

We gathered and analyzed 25 interviews with students with disabilities from across Poland, from public and nonpublic higher education institutions.

The assistant support service at universities introduced in Poland proved to be fragmentary and limited only to the educational process, which resulted in the exclusion of people with complex disabilities and those requiring support in self-care activities. The pandemic has exacerbated previously observed dimensions of segregation and inequalities leading to disproportionate isolation of students with disabilities. It also highlighted the limited understanding of personal assistantship functioning in the academic context and the need for urgent development of universal access to assistance services across Poland. At the same time the forced move to distant, internet-based learning, at least for some students, gave them a sense of self-reliance and independence.

This research adds to the understanding of the consequences of the COVID-19 pandemic for students with disabilities in the case of Poland. It also calls for a reexamination of what personal assistance should mean in the context of higher education and beyond.

The study set out to understand how the regional competitiveness index (RCI) in the department of Ancash related to the human development index (HDI) from 2008 to 2021. For a more complete understanding of the findings, each component or dimension of the RCI was analyzed. Ancash's HDI and its competitiveness index over a 14-year period were used as the population for this applied, longitudinal, descriptive-correlational study, which was based on secondary data extracted from the “Instituto Nacional de Estadística e Informática” (INEI) and business school of the Pontificia Universidad Católica del Perú (CENTRUM) statistical databases. Multiple linear regression was used to find the relationship. The research found a strong and positive correlation between regional competitiveness and human development between 2008 and 2021. No correlations were found between the HDI and the health, education, employment, or institutional dimensions of regional competitiveness, but direct and significant correlations were established between the economic environment and the HDI and between the infrastructure dimension and the HDI.