The Role of Over-The-Counter (OTC) Derivatives in Global Financial Crisis and Corporate Failures in Recent Times and Its Regulatory Impacts (Published)
The paper examined the role played by over-the –counter (OTC) derivatives in the recent global financial crisis and corporate failures, and the extent to which these have impacted the regulation of OTC derivatives products and markets. The research methodology employed is the critical analysis of empirical literature. The findings of the paper are therefore mixed as there were divergent views as to OTC derivatives being the sole cause of the global financial crisis and corporate failures among stakeholders. The paper therefore proposed consistency in OTC derivatives reforms among countries, proper supervision by regulatory bodies over OTC participants among others.
Keywords: Financial Markets, Over - The – Counter, Regulation, Risk, derivatives, financial crisis
EFL Learners’ Receptive and Productive Knowledge of Word Derivatives (Published)
It has been assumed that L2 learners’ productive knowledge of word derivatives is not predicted by their receptive knowledge, that is, learners with high levels of receptive knowledge may not be better than learners with low level of receptive knowledge in the production of word derivatives (e.g. Schmitt & Zimmerman, 2002; Collins & Nation, 2015). However, the current study does not conform to this notion, and provides new insights about EFL learners’ receptive and productive knowledge of word derivative forms. The participants of the present study were 36 postgraduate students at ten different Saudi universities majoring in different schemes of English. They were requested to take an English-Arabic translation task for 16 target words, and to fill in four blanks for each target word with a suitable word derivative class (i.e. a noun, verb, adjective, or adverb). Each blank appeared in a contextualized sentence, where the participants were required to provide a suitable derivative for each blank. Each target word had four sentences with blanks that required one of the four major word classes mentioned above. These 16 words came from Schmitt and Zimmerman’s (2002) study. The results showed that there is a significant correlation between the participants’ receptive and productive knowledge. Furthermore, the results indicated that adjectives and nouns were the most provided derivatives on the Schmitt and Zimmerman’s derivative forms test, followed by verbs and adverbs. Finally, some pedagogical implications were provided to help L2 learners increase their receptive as well as productive knowledge aspects of word derivations.
Keywords: breadth and depth knowledge, derivatives, productive knowledge, receptive knowledge, vocabulary size
STUDY OF THE DEGREE OF PERSISTENCE SHOCK’S ON THE VARIANCE AND THE DEGREE OF CONFIDENCE GIVEN BY THE INVESTORS TO THE DERIVATIVE PRODUCTS (Published)
We will study in our work, the persistence of the beneficial effect of the derivatives on the volatility and the efficiency of the French market. We will refer to the long term memory of FIGARCH type process as well as the breaking down of the anticipated variance of the volatility of the French stock market and the functions of impulse responses of different shocks of the derivatives. We deduced that the volatility is resistant in the market. We also noticed that the beneficial effect of these products is direct. This volatility disappears with the time because the impulse responses of these shocks are low and remaining inside the intervals of confidence and converging asymptotically towards the axis of abscissa. We will reveal in long term that the raise of volumes of transactions that is due to the concentration of the activities of investors on the derivative market is generating a big risk of volatilities in the French financial market. So, and despite the direct beneficial effects of these products on the volatility and the efficiency of the French financial market, it is become clear for the investors to reduce the total confidence granted on the increased use of these products which can lead in long term to the instability situations and of the persistence of the volatility in the financial markets.
Keywords: Impulse responses, VAR – FIGARCH, derivatives, intervals of confidence, persistence of volatility, transmissions of the chocks, volumes of transactions