RESUMEN

The authors provide a brief overview for thoracic surgeons in topics essential to achieving financial well-being as a student, trainee, practicing surgeon, and beyond. While broad in nature, the authors' article is comprehensive, and they cover topics including student loans, asset and wealth management, investment opportunities, financial and estate planning, and insurances. It is hoped that the information provided will allow thoracic surgeons to become more familiar with the financial topics that pertain to thoracic surgeons and provide an introduction to explore financial wellness and literacy more thoroughly.

Asunto(s)

RESUMEN

CONTEXT: Borrowers burdened by high student debt generally experience financial constraints that can impact them both personally and professionally. To date no published data exists that profiles the education-related debt accrued by entry-level certified athletic trainers. OBJECTIVE: To assess the scope and scale of student debt associated with the completion of an entry-level athletic training degree. DESIGN: Cross-sectional study. SETTING: Online web-based survey. PATIENTS OR OTHER PARTICIPANTS: Participants were recruited with assistance from the National Athletic Trainers' Association, who disseminated the survey to 18,689 certified athletic trainers who were members in good standing and who had earned their certification between 2004 and 2022. A total of 2,271 individuals accessed the survey. MAIN OUTCOME MEASURE(S): The overall amount of student debt incurred to complete an entry-level degree in athletic training and the initial monthly repayment amount were collected from survey respondents. Education-related debt-to-income ratio (DTIR) and monthly payment DTIR which are measures of financial health/stability were also calculated from the acquired survey data. RESULTS: Among athletic trainers who took out student loans, the average amount owed by entry-level athletic trainers for the period spanning 20042022 was $61,717, with an average initial monthly loan payment amount reported to be $453. The mean education related DTIR calculated from respondents was 169%, which exceeded the benchmark value of 100% recommended within the finance industry. Also, the average monthly payment DTIR calculated from study participants was .144, which approached the recommended acceptable upper-limit of .15. CONCLUSIONS: Education-related DTIR and monthly payment DTIR values reported by respondents suggests the potential for entry-level athletic trainers to experience financial challenges related to their student debt.

RESUMEN

BACKGROUND: There is limited evidence on the association between housing debt and depressive symptoms in China. This study aimed to examine the impact of housing debt on depressive symptoms and explore the heterogeneous impacts arising from two sources of housing debt and two types of housing demands. METHODS: Using data from the 2016 and 2018 China Family Panel Studies (CFPS), this study included 25,232 Chinese individuals. Depressive symptoms were assessed using the eight-item Center for Epidemiological Studies Depression Scale (CES-D8). Housing debt was measured by dummy variables, indicating whether an individual had housing debt, and continuous variables, which were the logarithm of the total amount of housing debt. The two-way fixed effects model was used to examine the relationship. RESULTS: Housing debt had a significant positive impact on depressive symptoms in China. Individuals with housing debt had a 0.176-point higher depressive symptom score than those without housing debt. A 10% increase in the total amount of housing debt led to a 0.16-point increase in depressive symptoms. Non-bank housing loans significantly increased the level of depressive symptoms with a larger coefficient (coef = 0.289), while the impact of bank housing loans was small and not statistically significant. In terms of the types of housing demands, a positive impact was observed only among individuals who had only one property meeting their housing consumption demands. CONCLUSIONS: This study found a significant positive impact of housing debt on depressive symptoms, primarily driven by non-bank housing loans. Furthermore, housing debt increased the depressive symptoms among individuals with consumption demands, while those with investment demands did not show a significant impact. Government interventions should prioritize easing formal financial constraints and providing support for individuals with housing consumption demands.

Asunto(s)

RESUMEN

STUDY OBJECTIVE: To identify knowledge gaps in business education among obstetrics and gynecology fellows METHODS: An online anonymous survey was distributed to obstetrics and gynecology subspecialty fellows, including pediatric and adolescent gynecology, minimally invasive gynecologic surgery, and reproductive endocrinology and infertility fellows. RESULTS: Of the 483 fellows who received the questionnaire, 159 completed the surveys, resulting in a response rate of 32.9%. A total of 80 reproductive endocrinology and infertility fellows (50.3%), 47 minimally invasive gynecologic surgery fellows (29.6%), and 32 pediatric and adolescent gynecology (20.1%) fellows completed the survey. Over half reported debt from either undergraduate or medical school (52.2%). Over half (58.5%) reported 0 hours of finance education in their residency or fellowship training. In general, fellows reported relatively higher levels of confidence in nonmedical aspects of business, such as purchasing a home (63.9%), life and disability insurance (57.2%), and making financial plans for the future (57.9%). Conversely, a large portion of fellows reported feeling "not at all confident" in business topics related to the field of medicine, including contract negotiation (24.7%), non-competes (27.1%), relative value units system-based pay (32.0%), general office practice management (58.2%), legal aspects of business (71.8%), accounting and billing (54.4%), and marketing (55.7%). CONCLUSION: Our survey demonstrates an unmet demand among obstetrics and gynecology fellows to learn topics related to the business of medicine. Knowledge of these topics is critical for those pursuing private practice or academic medicine. Future initiatives should evaluate other subspecialties and prioritize creating a standardized education tool to better prepare trainees entering medical practice.

Asunto(s)

RESUMEN

Personal saving is an important indicator of future economic prosperity. Despite the growth in gross domestic product per capita (GDPPC) from 2012 to 2022 in the Kingdom of Saudi Arabia (KSA), the personal savings rate remains low. Only a few studies have explored savings in KSA, but no study that used time savings deposits (TSD) to measure personal savings exists. Thus, this study aims to investigate the determinants of personal savings employing TSD. Using data from the Saudi Central Bank from 2012 to 2022, this study empirically examines the determinants of TSD. The autoregressive distributed lag cointegration technique determines the long-run relationship between the study's variables. The study finds that GDPPC, deposit interest rates (DIR), consumer loans (CLs), and real estate loans (RELs) significantly impact personal savings. Only GDPPC and RELs have a significant negative impact on personal savings. The study is among the few to examine savings in KSA but, unlike other studies, used TSD as a measure of personal savings. In conclusion, several implications and recommendations for policymakers and financial institutions were presented.

RESUMEN

This panel paper is the second installment in a six-part Nursing Outlook special edition based on the 2022 Emory Business Case for Nursing Summit. The 2022 summit convened national nursing, health care, and business leaders to explore possible solutions to nursing workforce crises, including the nursing shortage. Each of the summit's four panels authored a paper in the special edition on their respective topic(s), and this panel paper focuses on the topic of nursing workforce growth. It discusses priority areas for academia to help ameliorate nursing shortages, including through changes to nursing curricula and/or programming, greater attention to nursing financial needs (including nursing student loans), and regulatory reforms.

Asunto(s)

RESUMEN

Resumo: O objetivo deste escrito foi compreender a captura do capital financeiro sobre o Benefício de Prestação Continuada (BPC) por meio dos empréstimos consignados. Trata-se de estudo bibliográfico e documental qualitativo com uso do materialismo histórico-dialético como método de análise da realidade. Conclui-se que os empréstimos consignados são utilizados como instrumentos de expansão do capital financeiro e têm causado o endividamento da pessoa idosa beneficiária do BPC, agravando a extrema pobreza.

Abstract: The objective of this writing was to understand the capture of financial capital on the Continuous Payment Benefit (BPC) through payroll loans. This is a qualitative bibliographic and documentary study using historical-dialectical materialism as a method of analyzing reality. It is concluded that payroll loans are used as instruments for expanding financial capital and have caused the indebtedness of elderly people who would benefit from the BPC, aggravating extreme poverty.

RESUMEN

This study contributes to the banking literature by examining the effect of bank liquidity creation on bank risk-taking behaviors in Vietnam - a transition economy. Our data sample comprises 367 observations of 33 Vietnamese commercial banks from 2009 to 2020. We employ the Bias-corrected Least-Squares with Dummy Variables (LSDVC) estimation, which performs better than other dynamic estimators in small and unbalanced panel samples. In this research, bank risk primarily represents non-performing loans (NPLs). Empirical results show that bank liquidity creation significantly reduces NPLs. Otherwise, bank funding diversification significantly increases NPLs in Vietnamese commercial banks. Our findings are robust to alternative measurements of liquidity creation and bank risk. Additionally, we show the moderating role of bank scale in the effects of liquidity creation and funding diversification on bank risk-taking in Vietnamese banks. Our paper is the first research investigating the influence of liquidity creation on bank risk-taking in the specified situation of a transition economy. Besides, it provides empirical evidence to fill the existing research gap. Further, this study provides a list of implications for bank managers and policymakers to manage credit risks and improve the stability of the Vietnamese banking system.

RESUMEN

INTRODUCTION: Surgical residents make decisions that may have a dramatic impact on career earnings based off conceptions regarding future income potential. This study examines the effect of debt burden, repayment plan, and practice setting on a general surgeon's career value. METHODS: Debt levels, repayment plans, and practice setting were considered to model a surgeon's career value using net present value (NPV) across 35 scenarios. The NPV was calculated using salary, education debt, yearly spending, and a discount rate of 5%. Salary data were obtained from the Medical Group Management Association, student debt information from the Association of American Medical Colleges, and tax and household spending data from U.S. government records. Assumptions included no gaps in training, no prior debt, single-person household, and career duration of 35 y. RESULTS: A general surgeon's salary adequately repays debt burdens from $100,000-$300,000 over 10-25 y, regardless of repayment plan or practice setting. Practice setting decreased career value for academic surgeons when debt burden and repayment plan were held constant: the NPV for an academic surgeon was $382,000 compared to $500,000 for a nonacademic surgeon with the same debt and repayment plan. Debt burden repaid through unsubsidized and income-based repayment plans reduced NPV for all surgeons, while subsidized plans increased NPV. The projected NPV for all scenarios ranged $2.35M-$2.87 M. CONCLUSIONS: Though the modeled scenarios do not account for prior debt burden, major expenditures, or increases in yearly household spending beyond national averages, surgery residents should be aware that general surgery remains a financially feasible career.

Asunto(s)

RESUMEN

The paper studies the interaction between a set of bank performance indicators (concentration, profitability, and risk) and the carbon footprint of bank loans. Our research builds on the panel data analysis for 37 countries during 2010-2018, adopting local projections proposed by Jordá (Am Econ Rev 95(1):161-182, 2005), a feasible alternative to panel VAR estimation in case of short time series. In order to account for potentially different patterns in the relationship among the indicators, we split the whole panel into two sub-panels, using K-means clusterization based on income level, resource abundance, and overall environmental performance. For the whole panel, the carbon footprint is driven by systemic risk, while leading the non-performing loans (NPL) ratio and Z-score. Thus, curbing systemic risk matters to reduce the carbon footprint of bank loans. Otherwise, it may amplify the effects of the latter on the NPL ratio and Z-score. Interestingly, the effect of systemic risk on the carbon footprint stems from the sub-panel consisting of developed countries, while the effect of the carbon footprint on the NPL ratio and Z-score is mainly shaped by developing and emerging market economies. The relationships between the carbon footprint of lending, concentration, and profitability are much less pronounced both for the whole panel and for the sub-panels.

Asunto(s)

RESUMEN

In this study, we construct a compartmental model that tracks the different states and their respective hazards for typical mortgage loans. We consider that an active mortgage loan could become delinquent in light of either common systemic risks or idiosyncratic risks in the job market. These two groups of employment-related perils jeopardize the sources of income underlying the mortgage monthly payments to lenders and could hurt the ability of mortgage loan borrowers to retire their debt. We also contemplate ongoing risks of a collapse in the housing market, which might transform the mortgage loan to be "underwater" and consequently diminish borrowers' incentives to service the outstanding balance. We develop the necessary derivations, illustrate the functionality of the model over several hypothetical simulations and sensitivity analyses, suggest variable estimation specific guidelines, conclude, and discuss potential extensions for the proposed model.

RESUMEN

To disentangle the sources of bank inefficiency, this paper presents an extended two-stage network multi-directional efficiency analysis (NMEA) approach by taking the internal structure of the banking system into account. The proposed two-stage NMEA approach extends the conventional "black-box" MEA approach, providing a unique efficiency decomposition and identifying which variables drive the inefficiency for banking systems with a two-stage network structure. An empirical application of Chinese listed banks from 2016 to 2020 during the 13th Five-year Plan reveals that the overall inefficiency of sample banks is primarily sourced from the deposit-generating subsystem. Additionally, different types of banks display differentiated evolution modes over different dimensions, confirming the importance of applying the proposed two-stage NMEA approach.

RESUMEN

Native Community Development Financial Institutions (NCDFIs) fill credit supply gaps and promote financial inclusion in Native communities. To mitigate lending risks and aid clients, NCDFIs often rely on unconventional lending practices such as providing clients with free financial counseling. Drawing on uniquely detailed consumer loan-level data of one prominent NCDFI, we empirically model the hazard of a loan turning into bad debt. Our analysis shows that borrower exposure to NCDFI-provided financial counseling appreciably reduces the prospects of consumer loan failure when the borrower has had limited prior credit-market experience. Personalized coaching is more effective than the relatively less client-tailored, classroom-style training. Our results have implications for the lending practices of creditors serving Native communities and beyond. More broadly, our findings are indicative of the importance of the growing, but understudied, NCDFI industry for financial development of Indian Country.

RESUMEN

Financial institutions' scale of total and non-performing loans are important figures signaling economic activity and its risk level. COVID-19 created an external shock with overarching effects on the global economy, impacting the credit activity and debtors' ability to repay their obligations. We study how Colombia's loans and non-performing loans market ratios could react to an external shock (absent of any relief measures) by developing a vector autoregressive model with exogenous variables (VARX) with the Central Bank intervention rate as an exogenous variable. We use impulse response functions to simulate the impact of the COVID-19 pandemic on the market of loans and default levels in Colombia. Our results show that the effects remain significant over long periods.

RESUMEN

The financial burden of pursuing a medical education continues to grow, with the average medical student now owing over $240,000 in total student loan debt by the time they graduate. This burden peaks at a time when trainees are making some of the most consequential decisions of their careers. Additionally, many students are simultaneously making important financial decisions related to personal aspirations, all before a drastic change in earning potential once they begin practicing as attending physicians. Medical trainees' financial stress is linked to specialty choice, mental quality of life, and physician burnout, with additional implications of such stress for patient health and safety.1- 3 Despite these issues, there are few examples of medical schools providing direct personal finance education to their students. Given the lack of personal finance education opportunities for medical students, the authors designed and implemented a medical student-specific personal finance curriculum at their home institution in conjunction with the Association of American Medical Colleges' (AAMC) Financial Information, Resources, Services, and Tools program. The curriculum, which is primarily delivered through interactive lectures, covers topics ranging from the basics of saving and investment to clinicians' potential future roles as administrators and innovators. The authors (1) present details regarding the creation of their personal finance education program; (2) invite fellow medical trainees and their respective institutions to start their own personal finance education programs or add similar curriculum to their health sciences coursework; and (3) call for recommendations by the American Medical Association (AMA) and AAMC in support of formal personal finance instruction for medical students on a national level.

RESUMEN

BACKGROUND AND PURPOSE: Evolution of personal finance beliefs over the course of a college career are unknown. The purpose of this study is to compare perceptions and knowledge of personal finance in undergraduate and pharmacy students at baseline and after completing a personal finance course. EDUCATIONAL ACTIVITY AND SETTING: A personal finance elective course was implemented for second- and third-year doctor of pharmacy (PharmD) students and for undergraduate freshman students. On the first and last day of class, students completed an anonymous survey evaluating demographics, opinions and knowledge regarding personal finance, and current financial status. Baseline data between undergraduate and pharmacy students was compared and the impact of the personal finance course was assessed. FINDINGS: The median score on the baseline knowledge assessment was 58% for freshman (n = 19) and 50% for pharmacy students (n = 28) (P = .571). Five percent of freshman and 86% of pharmacy students reported having debt at baseline (P < .001) compared to 84% and 68%, respectively, having savings (p = .110). After completing the personal finance course, knowledge assessment scores were 54% and 73% for freshman and pharmacy students, respectively (P < .001). SUMMARY: Despite additional years of education and life experience, PharmD students had similar knowledge and perceptions of personal finance while reporting more debt than freshmen. Pharmacy students, however, exhibited improvement in knowledge after taking a personal finance course, while freshman students did not. Personal finance-focused education may help empower graduating pharmacists for financial decision-making upon entering the workforce.

Asunto(s)

RESUMEN

Public international law does not encompass external sovereign debt. In particular, the current status of 'odious debt', which may also be termed 'illegitimate debt', in international law epitomizes the weakness of international law with respect to external sovereign debt. Odious debt is subject to politics and ad hoc relations on the international stage. By and large, the law engages with external sovereign debt on the national level-e.g., via the national laws and the national courts of financial centers. In the event of a dispute regarding external sovereign debt, it is very rare that international law or international adjudication deal with external sovereign debt.

RESUMEN

Financial technology tools have been utilised to create readily available mobile loan platforms for urban-based, daily-wage earners in Kenya. From a financial lending perspective, this development signals greater inclusion and equality in formal bank financing systems. In this paper, however, we examine mobile loans and their repayment from the perspective of women who sell sex in Nairobi, drawing upon the qualitative findings of two community-based studies conducted in close collaboration with sex worker-led organisations serving the sexual health needs of their peers. Our findings suggest that mobile loans may undermine the financial security strategies and economic independence of sex workers, leaving these women in more precarious economic circumstances, which have been shown in other instances to have effects on sexual risk taking and vulnerability to HIV infection.

Asunto(s)

RESUMEN

Objective: Determine relationships between college students' student loan presence and self-rated physical and mental health, major medical problems, mental health conditions, physical, dental, and mental health care visits and delays, and medication use and reductions. Participants: A total of 3,248 undergraduates at two regional public U.S. universities, surveyed Spring 2017. Methods: OLS and Logistic regression. Results: Loan presence was related to significantly worse self-rated physical and mental health and more major medical problems, but not to mental health conditions, or physical or mental health medication use. Respondents with loans were less likely to visit the dentist and more likely to report delaying medical, dental, and mental health care, and reducing medication use to save money. Conclusions: Results provide evidence of health and health care use divides among college students by loan presence.

RESUMEN

Objective: Student loan debt has become a growing crisis. Considering that women are more likely than men to take on student loans and more likely to take on larger amounts, we examine whether the effects of student loans on young adults' mental health and substance use differ by gender. Participants: We used the National Longitudinal Survey of Youth 1997 (NLSY97) data collected from 1997 to 2015. The NLSY97 consists of a nationally representative sample of American youths born between 1980 and 1984. Participants included 2,607 men and 3,004 women who reported college enrollment. Methods: We analyzed data using hybrid regression models. Results: Student loans have more negative effects on young men than young women, in terms of mental health problems, smoking, and heavy drinking. Particularly, young men tend to increase substance use in response to cumulative loan amounts. Conclusions: Borrowing patterns and the health consequences of student loans are gendered.

Asunto(s)