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1.
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k
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d
p
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tect
th
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d
ata
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f
cu
s
to
m
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s
[
1
]
.
Du
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to
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b
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-
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tack
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d
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s
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ity
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s
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cr
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f
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f
f
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s
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ity
m
ea
s
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es
[
2
]
.
C
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b
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s
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p
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d
u
r
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p
h
y
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s
,
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ata
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ay
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s
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ata
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m
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r
e
all
p
ar
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b
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k
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g
s
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ity
[
3
]
.
T
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r
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ci
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f
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ter
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ted
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[
4
]
.
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n
d
u
ltima
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a
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[
5
]
.
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x
is
tin
g
s
tu
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in
th
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liter
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f
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p
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g
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ce
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in
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tech
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lo
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in
ac
h
ie
v
in
g
b
etter
p
e
r
f
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r
m
an
ce
[
6
]
,
[
7
]
.
Fin
an
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tech
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l
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y
o
r
F
in
T
ec
h
ar
e
u
s
ed
b
y
b
an
k
to
ac
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s
s
cu
s
to
m
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s
[
8
]
.
Mo
s
t
s
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d
ies
m
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s
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Fin
T
ec
h
b
y
th
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s
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b
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m
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b
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m
b
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Ms
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d
f
u
n
ctio
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lity
o
f
m
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b
ile
ap
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licatio
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[
9
]
.
Nev
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s
tu
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ies
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am
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th
e
tr
an
s
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f
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n
an
cial
p
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f
o
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m
a
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ce
o
f
b
a
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k
s
[
3
]
,
[
1
0
]
.
Mo
d
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b
a
n
k
in
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s
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u
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ity
u
s
es
en
cr
y
p
tio
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,
m
u
lti
-
f
ac
to
r
au
th
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n
ticatio
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,
b
lo
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n
,
b
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v
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,
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J
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C
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Sci
,
Vo
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39
,
No
.
1
,
J
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ly
20
25
:
69
1
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6
9
9
692
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Su
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O
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s
ac
tio
n
an
d
cu
s
to
m
e
r
with
lo
w
b
an
k
in
g
tr
an
s
ac
tio
n
k
n
o
wled
g
e
m
ig
h
t
ch
an
g
e
to
tr
ad
itio
n
al
a
n
d
ca
s
h
m
eth
o
d
wh
ich
m
ig
h
t
h
av
e
n
eg
ativ
e
ef
f
ec
t
o
n
b
an
k
s
’
p
e
r
f
o
r
m
an
ce
[
1
4
]
.
T
h
is
s
tu
d
y
ex
am
in
es
th
e
ef
f
e
ct
o
f
tr
an
s
ac
tio
n
s
ec
u
r
ity
o
n
f
in
an
cial
p
er
f
o
r
m
an
ce
o
f
I
s
la
m
ic
b
an
k
s
.
R
OA
an
d
R
OE
m
ea
s
u
r
e
a
b
a
n
k
’
s
p
r
o
f
itab
ilit
y
an
d
ef
f
icien
cy
.
Secu
r
e
tr
a
n
s
ac
tio
n
s
ca
n
p
r
o
m
o
te
clien
t
tr
u
s
t,
in
cr
ea
s
in
g
d
ep
o
s
it
in
f
lo
ws
an
d
tr
an
s
ac
tio
n
v
o
lu
m
es
[
1
5
]
.
T
h
i
s
ca
n
in
cr
ea
s
e
R
O
A
an
d
R
OE
.
E
f
f
ec
tiv
e
s
ec
u
r
ity
s
o
lu
tio
n
s
also
r
ed
u
ce
f
r
au
d
-
r
el
ated
f
in
an
cial
lo
s
s
es,
in
cr
ea
s
in
g
p
r
o
f
itab
ilit
y
[
1
6
]
.
T
o
b
in
’
s
Q
m
ea
s
u
r
es a
b
an
k
’
s
m
ar
k
et
p
er
f
o
r
m
an
c
e
r
elativ
e
to
its
ass
e
t v
alu
e.
Stro
n
g
s
ec
u
r
i
ty
m
ea
s
u
r
es c
an
in
cr
ea
s
e
a
b
a
n
k
’
s
im
ag
e,
in
v
esto
r
in
ter
est,
an
d
m
ar
k
et
wo
r
t
h
,
r
a
is
in
g
T
o
b
in
’
s
Q
[
1
7
]
.
C
r
itics
s
ay
th
e
c
o
s
ts
o
f
im
p
lem
en
tin
g
ad
v
a
n
ce
d
s
ec
u
r
ity
s
y
s
tem
s
m
ig
h
t
s
tr
ain
I
s
lam
ic
b
an
k
s
,
p
ar
ticu
lar
ly
s
m
al
ler
o
n
es.
T
h
e
in
itial
in
v
es
tm
en
t,
co
n
tin
u
o
u
s
m
ain
ten
an
ce
,
a
n
d
n
ee
d
f
o
r
s
p
ec
ialis
t
s
taf
f
m
ay
o
u
tweig
h
th
e
s
ec
u
r
ity
b
en
ef
its
[
1
4
]
,
[
1
8
]
.
T
h
e
r
ap
id
p
ac
e
o
f
tech
n
o
lo
g
y
in
n
o
v
atio
n
s
r
eq
u
ir
es
co
n
tin
u
al
f
in
an
cial
in
v
estme
n
t,
wh
ich
m
ay
d
iv
er
t
r
eso
u
r
ce
s
f
r
o
m
cu
s
to
m
er
s
er
v
ice
an
d
p
r
o
d
u
ct
d
ev
elo
p
m
en
t
[
2
]
,
[
1
9
]
.
Ad
v
o
ca
tes
s
ay
lo
n
g
-
ter
m
b
e
n
ef
its
o
u
tweig
h
co
s
ts
.
I
m
p
r
o
v
ed
s
ec
u
r
ity
r
ed
u
ce
s
f
in
an
cial
r
is
k
an
d
b
u
ild
s
clien
t
tr
u
s
t
an
d
lo
y
alty
,
wh
ich
I
s
lam
ic
b
a
n
k
s
n
e
ed
to
s
u
cc
ee
d
[
1
3
]
,
[
2
0
]
.
W
ith
cy
b
er
th
r
ea
ts
b
ec
o
m
in
g
in
cr
ea
s
in
g
l
y
s
o
p
h
is
ticated
,
d
is
r
eg
ar
d
in
g
s
ec
u
r
ity
m
ea
s
u
r
es
m
ig
h
t
h
a
v
e
f
ar
-
r
ea
ch
in
g
e
f
f
ec
ts
.
T
h
e
r
e
p
er
cu
s
s
io
n
s
ca
n
in
clu
d
e
m
o
n
ey
lo
s
s
es,
leg
al
f
in
es,
an
d
r
ep
u
tatio
n
h
ar
m
[
9
]
,
[
2
1
]
.
R
eg
u
lato
r
y
f
r
am
ewo
r
k
an
d
b
a
n
k
in
g
tech
n
o
lo
g
y
d
if
f
e
r
s
am
o
n
g
b
an
k
s
an
d
co
u
n
tr
ies
[
2
2
]
.
W
h
ile
th
e
tech
n
o
lo
g
y
a
n
d
th
e
s
ec
u
r
ity
o
f
tr
an
s
ac
tio
n
is
ad
v
a
n
ce
d
in
i
n
d
u
s
tr
ialized
c
o
u
n
tr
ies,
it
is
less
in
n
o
n
-
in
d
u
s
tr
ialized
co
u
n
tr
ies
[
1
0
]
,
[
1
7
]
,
[
2
3
]
.
I
n
ad
d
itio
n
,
t
h
e
ty
p
e
o
f
b
an
k
s
also
p
lay
a
cr
itical
r
o
le.
I
s
lam
ic
b
an
k
s
m
u
s
t
ad
h
er
e
t
o
s
h
ar
iah
law
a
n
d
av
o
id
in
ter
est
[
2
4
]
.
T
h
is
s
tu
d
y
f
o
c
u
s
es
o
n
I
s
lam
ic
b
a
n
k
s
.
On
e
o
f
th
e
r
eg
io
n
s
th
at
is
ac
tiv
e
in
I
s
lam
ic
b
an
k
is
th
e
Mid
d
le
E
ast
an
d
in
p
a
r
ticu
lar
,
th
e
g
u
l
f
co
o
p
er
atio
n
co
u
n
cil
(
GC
C
)
an
d
J
o
r
d
an
[
2
5
]
.
T
h
ese
co
u
n
t
r
ies
s
h
ar
es
s
im
ilar
ch
ar
ac
ter
is
tics
o
f
b
ein
g
m
o
n
ar
c
h
y
a
n
d
f
o
llo
w
s
im
ilar
p
r
o
ce
d
u
r
e
s
[
2
6
]
.
I
s
lam
ic
b
an
k
s
in
J
o
r
d
a
n
an
d
th
e
GC
C
o
p
er
ate
in
a
f
l
u
id
f
in
a
n
cial
clim
ate
[
2
7
]
.
I
s
l
am
ic
b
an
k
in
g
h
as
g
r
o
wn
in
th
e
a
r
ea
s
d
u
e
to
s
tr
o
n
g
d
em
an
d
f
o
r
Sh
ar
ia
-
co
m
p
lia
n
t
f
in
a
n
cial
s
er
v
ices
[
2
8
]
.
I
s
la
m
ic
b
an
k
s
ar
e
v
ital
to
J
o
r
d
an
’
s
f
in
an
cial
s
y
s
tem
an
d
ec
o
n
o
m
ic
g
r
o
wth
[
2
9
]
.
GC
C
n
atio
n
s
h
av
e
d
elib
er
ately
em
b
r
ac
ed
I
s
lam
ic
b
an
k
in
g
as
a
v
ital
p
ar
t
o
f
t
h
e
ir
f
in
an
cial
s
ec
to
r
s
.
R
eg
u
lato
r
y
q
u
ality
is
a
c
r
itical
f
ac
to
r
i
n
d
eter
m
i
n
in
g
t
h
e
p
r
o
ce
d
u
r
es
o
f
b
a
n
k
s
[
3
0
]
.
Hig
h
r
eg
u
lato
r
y
q
u
ality
m
ain
tain
r
eg
u
latio
n
s
a
n
d
u
r
g
e
b
a
n
k
s
to
ad
h
er
e
to
s
p
ec
if
ic
r
u
les
in
te
r
m
o
f
t
r
an
s
ac
tio
n
s
e
cu
r
ity
[
3
1
]
.
On
th
e
o
th
er
h
a
n
d
,
th
e
wea
k
r
eg
u
latio
n
s
u
ch
in
th
e
ca
s
e
o
f
s
ev
er
al
d
ev
elo
p
in
g
co
u
n
tr
ies
[
2
2
]
ca
n
wea
k
en
th
e
p
r
o
ce
d
u
r
es
o
f
b
a
n
k
s
an
d
t
h
e
tr
an
s
ac
tio
n
s
[
3
2
]
.
T
h
er
ef
o
r
e,
in
th
is
s
tu
d
y
,
it
is
p
r
o
p
o
s
ed
th
at
r
eg
u
lato
r
y
q
u
ality
ca
n
p
lay
a
m
o
d
er
atin
g
r
o
le
b
etwe
en
tr
an
s
ac
tio
n
s
ec
u
r
ity
an
d
f
in
an
ci
al
p
e
r
f
o
r
m
an
ce
.
Acc
o
r
d
in
g
ly
,
th
is
s
tu
d
y
ex
am
in
es
th
e
ef
f
ec
t
o
f
tr
an
s
ac
tio
n
s
ec
u
r
ity
o
n
f
i
n
an
cial
p
er
f
o
r
m
an
ce
w
h
ich
is
m
ea
s
u
r
ed
u
s
in
g
R
OA,
R
OE
,
an
d
T
o
b
in
’
s
Q.
I
t
also
ex
a
m
in
es
th
e
m
o
d
er
atin
g
r
o
le
o
f
r
eg
u
lato
r
y
q
u
ality
.
2.
L
I
T
E
R
AT
U
RE
R
E
VI
E
W
2
.
1
.
T
heo
re
t
ica
l
f
r
a
m
ew
o
rk
T
wo
th
eo
r
ies
d
escr
ib
e
h
o
w
tr
an
s
ac
tio
n
s
ec
u
r
ity
af
f
ec
ts
f
in
an
cial
p
er
f
o
r
m
a
n
ce
an
d
h
o
w
r
eg
u
lato
r
y
q
u
ality
m
o
d
er
ates
th
is
ass
o
ciatio
n
.
R
eso
u
r
ce
b
ased
v
iew
(
R
B
V)
in
d
icate
d
th
at
a
f
ir
m
’
s
r
eso
u
r
ce
s
an
d
co
m
p
eten
cies
in
f
lu
en
ce
its
co
m
p
etitiv
e
n
ess
an
d
p
er
f
o
r
m
a
n
c
e
[
3
3
]
.
T
r
an
s
ac
tio
n
s
ec
u
r
ity
c
an
en
h
an
ce
b
an
k
in
g
p
er
f
o
r
m
an
ce
b
y
im
p
lem
e
n
tin
g
s
tr
o
n
g
p
r
o
ce
d
u
r
es
o
f
en
cr
y
p
tio
n
,
f
r
au
d
d
etec
tio
n
,
an
d
s
e
cu
r
e
au
th
en
ticatio
n
[
3
4
]
.
T
h
ese
s
ec
u
r
ity
m
eth
o
d
s
ar
e
h
ar
d
to
r
ep
r
o
d
u
ce
,
p
r
o
v
id
in
g
an
ec
o
n
o
m
ic
ad
v
an
t
ag
e
[
7
]
.
E
f
f
ec
tiv
e
tr
an
s
ac
tio
n
s
ec
u
r
ity
r
e
d
u
ce
s
attac
k
s
an
d
f
r
a
u
d
lo
s
s
es.
I
t
i
n
cr
ea
s
es
p
r
o
f
its
,
d
ec
r
ea
s
es
co
s
ts
,
an
d
in
cr
ea
s
es
cu
s
to
m
er
lo
y
alty
[
3
5
]
.
C
lien
t
d
ata
an
d
f
i
n
an
cial
ass
et
p
r
o
tectio
n
h
el
p
b
a
n
k
s
r
etain
cl
ien
ts
an
d
im
p
r
o
v
e
f
in
an
cial
p
er
f
o
r
m
a
n
ce
[
3
6
]
.
R
eg
u
latio
n
im
p
r
o
v
es
tr
an
s
ac
tio
n
s
ec
u
r
ity
b
y
e
n
s
u
r
in
g
b
an
k
s
s
atis
f
y
s
tr
ict
s
ec
u
r
ity
s
tan
d
ar
d
s
[
3
7
]
.
Secu
r
ity
in
v
e
s
tm
en
ts
p
er
f
o
r
m
b
etter
u
n
d
er
r
eg
u
lato
r
y
s
cr
u
tin
y
.
I
n
s
u
f
f
ici
en
t
r
eg
u
latio
n
s
ca
n
lo
wer
s
ec
u
r
ity
co
s
ts
o
win
g
to
s
lack
s
tan
d
ar
d
s
[
3
8
]
.
I
n
s
titu
tio
n
al
th
eo
r
y
ex
p
lain
s
h
o
w
h
ig
h
r
eg
u
lato
r
y
q
u
ality
g
u
ar
an
tees
b
an
k
s
h
av
e
clea
r
,
s
tr
in
g
en
t,
an
d
ef
f
ec
tiv
e
tr
an
s
ac
tio
n
s
ec
u
r
ity
p
r
o
ce
s
s
es.
Acc
o
r
d
in
g
to
in
s
titu
tio
n
al
th
eo
r
y
,
b
an
k
s
ea
r
n
r
ep
u
tati
o
n
b
y
o
b
ey
in
g
laws.
E
x
ce
llen
t
r
eg
u
lato
r
y
s
tan
d
ar
d
s
s
tr
en
g
th
en
th
e
b
an
k
’
s
b
r
an
d
an
d
in
v
esto
r
tr
u
s
t
[
3
9
]
.
Secu
r
e
b
an
k
s
attr
ac
t
m
o
r
e
in
v
esto
r
s
,
b
o
o
s
tin
g
th
ei
r
f
in
an
ce
s
.
R
eg
u
lato
r
y
f
r
am
e
wo
r
k
s
m
in
im
ize
tr
a
n
s
ac
tio
n
s
ec
u
r
ity
’
s
f
in
an
cial
Evaluation Warning : The document was created with Spire.PDF for Python.
I
n
d
o
n
esian
J
E
lec
E
n
g
&
C
o
m
p
Sci
I
SS
N:
2502
-
4
7
5
2
B
a
n
kin
g
s
ec
u
r
ity
a
n
d
p
erfo
r
ma
n
ce
o
f isl
a
mic
b
a
n
ks in
mid
d
l
e
…
(
Mo
h
a
mme
d
A
b
d
-
A
k
a
r
im
A
lmo
ma
n
i
)
693
im
p
ac
t.
Hig
h
-
q
u
ality
r
eg
u
lato
r
y
s
y
s
tem
s
en
co
u
r
ag
e
b
a
n
k
s
t
o
im
p
lem
e
n
t
r
o
b
u
s
t
s
ec
u
r
ity
m
ea
s
u
r
es,
lim
itin
g
b
r
ea
ch
es a
n
d
lo
s
s
es
[
4
0
]
.
St
r
o
n
g
r
eg
u
latio
n
s
s
p
ec
if
y
s
ec
u
r
ity
b
est p
r
ac
tices a
n
d
d
r
iv
e
p
r
o
g
r
ess
.
T
h
e
r
eg
u
lato
r
y
h
elp
im
p
r
o
v
es
tr
an
s
ac
tio
n
s
ec
u
r
ity
an
d
f
in
a
n
cial
p
er
f
o
r
m
an
ce
[
4
1
]
.
L
o
w
-
q
u
ality
r
eg
u
lato
r
y
s
y
s
tem
m
ay
n
o
t
ad
v
is
e
o
r
r
eq
u
ir
e
b
a
n
k
s
to
m
ain
tain
ad
e
q
u
ate
s
ec
u
r
ity
p
r
ac
tices,
lo
wer
in
g
tr
a
n
s
ac
tio
n
s
ec
u
r
ity
’
s
f
in
a
n
cial
p
er
f
o
r
m
an
ce
ad
v
an
tag
es
[
4
2
]
.
T
h
is
r
esear
ch
u
s
es
R
B
V
an
d
in
s
titu
tio
n
al
th
e
o
r
y
to
e
x
p
lai
n
th
e
r
elatio
n
s
h
ip
am
o
n
g
th
e
v
ar
iab
les.
T
r
an
s
ac
tio
n
s
ec
u
r
ity
is
a
s
tr
ateg
ic
r
eso
u
r
ce
th
at
d
eliv
e
r
s
co
m
p
etitiv
e
a
d
v
an
ta
g
e
(
R
B
V)
,
b
u
t
r
eg
u
latio
n
co
n
s
id
er
ab
ly
a
f
f
ec
ts
th
e
lin
k
b
etwe
en
tr
an
s
ac
tio
n
s
ec
u
r
ity
an
d
p
er
f
o
r
m
a
n
ce
(
I
n
s
titu
tio
n
al
T
h
e
o
r
y
)
.
Hig
h
r
eg
u
lato
r
y
q
u
ality
g
u
ar
an
tees
b
an
k
s
b
u
ild
an
d
m
ain
tain
s
o
lid
s
ec
u
r
ity
p
r
o
ce
d
u
r
es,
b
o
o
s
tin
g
tr
a
n
s
ac
tio
n
s
ec
u
r
ity
.
T
r
an
s
ac
tio
n
s
ec
u
r
ity
an
d
r
o
b
u
s
t
r
eg
u
lat
o
r
y
f
r
am
e
wo
r
k
s
h
elp
b
a
n
k
s
av
o
id
lo
s
s
es,
b
u
ild
cu
s
to
m
er
co
n
f
id
en
ce
,
an
d
im
p
r
o
v
e
o
p
er
atio
n
al
ef
f
icien
cy
.
R
eg
u
lat
o
r
y
q
u
ality
b
o
o
s
ts
s
ec
u
r
ity
in
v
estme
n
t
r
etu
r
n
s
,
im
p
r
o
v
in
g
f
in
an
cial
r
esu
lts
.
B
an
k
s
s
h
o
u
ld
in
v
est
in
s
o
p
h
is
ti
ca
ted
s
ec
u
r
ity
an
d
wo
r
k
with
r
eg
u
lato
r
s
to
cr
ea
te
an
d
f
o
llo
w
h
ig
h
-
q
u
ality
r
eg
u
l
atio
n
s
.
T
h
is
d
u
al
s
tr
ateg
y
p
r
eser
v
es
tr
an
s
ac
tio
n
s
ec
u
r
ity
as
a
s
tr
ateg
ic
r
eso
u
r
ce
an
d
m
ax
im
izes its
f
in
an
cial
p
e
r
f
o
r
m
a
n
ce
b
en
e
f
its
.
2
.
2
.
Co
ncept
ua
l f
r
a
m
ewo
r
k
a
nd
hy
po
t
hes
es dev
elo
pm
ent
Mo
s
t
b
an
k
in
g
s
ec
u
r
ity
liter
a
tu
r
e
f
o
cu
s
es
o
n
co
n
v
en
tio
n
al
b
an
k
s
,
with
f
ew
r
esear
c
h
a
d
d
r
ess
in
g
I
s
lam
ic
b
an
k
s
[
1
3
]
,
[
2
1
]
,
[
4
3
]
.
T
h
is
g
ap
o
b
s
cu
r
es
I
s
lam
ic
f
i
n
an
cial
in
s
titu
tio
n
b
a
n
k
in
g
s
ec
u
r
ity
co
n
ce
r
n
s
an
d
p
o
ten
tial.
C
r
o
s
s
-
s
ec
tio
n
al
s
tu
d
ies
o
f
ten
ex
am
in
e
th
e
lin
k
b
etwe
en
b
an
k
in
g
s
ec
u
r
ity
an
d
f
in
an
cial
p
er
f
o
r
m
an
ce
at
a
s
p
ec
if
ic
m
o
m
e
n
t
in
tim
e
[
1
4
]
,
[
1
8
]
,
[
4
4
]
,
[
4
5
]
.
Pan
el
d
at
a
an
aly
s
es
ar
e
cr
itical
f
o
r
ca
p
t
u
r
in
g
d
y
n
a
m
ics
an
d
tr
en
d
s
o
v
er
tim
e,
r
ev
ea
lin
g
th
e
s
u
s
tain
ab
ilit
y
an
d
lo
n
g
-
ter
m
co
n
s
eq
u
en
ce
s
o
f
f
in
a
n
cial
s
ec
u
r
ity
m
ea
s
u
r
es.
T
h
e
liter
atu
r
e
o
f
te
n
o
v
er
lo
o
k
s
f
ac
to
r
s
af
f
ec
tin
g
b
an
k
in
g
s
ec
u
r
ity
a
n
d
f
in
an
cial
p
er
f
o
r
m
an
ce
,
esp
ec
ially
in
d
iv
er
s
e
r
eg
io
n
s
lik
e
th
e
GC
C
an
d
J
o
r
d
a
n
.
C
o
n
tex
t
-
s
p
ec
if
ic
in
s
ig
h
ts
n
ee
d
co
n
s
id
er
atio
n
o
f
th
ese
lo
ca
tio
n
s
’
r
eg
u
lato
r
y
s
y
s
tem
s
.
T
h
is
s
tu
d
y
p
r
o
p
o
s
ed
th
at
b
an
k
in
g
tr
an
s
ac
tio
n
s
ec
u
r
ity
af
f
e
cts
p
o
s
itiv
ely
th
e
f
in
an
cial
p
e
r
f
o
r
m
a
n
ce
(
R
OA,
R
OE
,
an
d
T
o
b
i
n
’
s
Q
)
.
I
t
also
p
r
o
p
o
s
es
th
at
r
eg
u
lato
r
y
q
u
ality
m
o
d
er
ates
th
e
ef
f
ec
t
o
f
b
a
n
k
in
g
tr
an
s
ac
tio
n
s
ec
u
r
ity
o
n
R
OA,
R
OE
,
an
d
T
o
b
in
’
s
Q
o
f
b
an
k
s
in
GC
C
an
d
J
o
r
d
an
.
Sin
ce
th
is
s
tu
d
y
in
clu
d
es
s
ev
en
co
u
n
tr
ies
with
d
if
f
e
r
en
t
g
r
o
s
s
d
o
m
esti
c
p
r
o
d
u
ct
(
GD
P)
an
d
i
n
f
latio
n
r
ate
,
th
e
s
tu
d
y
co
n
tr
o
ls
f
o
r
GDP
an
d
in
f
latio
n
r
ate.
T
h
is
in
lin
e
with
p
r
ev
io
u
s
s
tu
d
ies
[
4
6
]
–
[
5
0
]
.
I
n
ad
d
itio
n
,
th
e
s
tu
d
y
i
n
clu
d
es
b
a
n
k
s
with
d
if
f
er
en
t
s
ize,
ag
e,
an
d
lev
er
a
g
e.
T
h
er
ef
o
r
e,
th
e
s
tu
d
y
co
n
t
r
o
ls
f
o
r
b
an
k
s
ize,
b
an
k
ag
e,
a
n
d
lev
er
ag
e.
T
h
is
is
also
in
lin
e
with
o
th
er
p
r
ev
io
u
s
r
esear
ch
[
5
1
]
–
[
5
3
]
.
Fig
u
r
e
1
s
h
o
ws th
e
co
n
ce
p
tu
al
f
r
am
ew
o
r
k
o
f
th
is
s
tu
d
y
.
Fig
u
r
e
1
.
Co
n
ce
p
tu
al
f
r
a
m
ewo
r
k
2
.
2
.
1
.
T
ra
ns
a
ct
io
n securit
y
a
nd
ba
nk
perf
o
rm
a
nce
R
B
V
co
n
s
id
er
s
tr
an
s
ac
tio
n
s
ec
u
r
ity
a
s
tr
ateg
ic
r
eso
u
r
ce
t
h
at
b
o
o
s
ts
b
an
k
ef
f
icien
cy
[
5
4
]
.
R
OA
ass
es
s
es
h
o
w
well
a
b
an
k
u
s
e
s
it
s
as
s
ets
to
en
h
an
ce
p
r
o
f
it.
B
an
k
s
ca
n
d
ec
r
ea
s
e
f
r
au
d
an
d
cy
b
er
attac
k
s
an
d
f
in
an
cial
lo
s
s
es
b
y
in
v
esti
n
g
in
s
tr
o
n
g
tr
an
s
ac
tio
n
s
ec
u
r
i
ty
s
y
s
tem
s
[
1
7
]
.
Ass
et
u
s
ag
e
ef
f
icien
cy
b
o
o
s
ts
p
r
o
f
itab
ilit
y
an
d
R
OA
[
4
3
]
.
S
ec
u
r
ity
im
p
r
o
v
em
en
ts
b
o
o
s
t
p
r
o
d
u
ctiv
ity
an
d
lo
wer
f
r
a
u
d
a
n
d
b
r
ea
ch
c
o
s
ts
[
2
]
,
[
5
5
]
.
T
h
u
s
,
th
e
f
o
llo
win
g
is
h
y
p
o
th
esized
:
H1
a:
B
an
k
in
g
tr
an
s
ac
tio
n
s
ec
u
r
ity
in
cr
ea
s
es R
OA.
Evaluation Warning : The document was created with Spire.PDF for Python.
I
SS
N
:
2
5
0
2
-
4
7
5
2
I
n
d
o
n
esian
J
E
lec
E
n
g
&
C
o
m
p
Sci
,
Vo
l.
39
,
No
.
1
,
J
u
ly
20
25
:
69
1
-
6
9
9
694
T
r
an
s
ac
tio
n
s
ec
u
r
ity
p
r
o
tects
s
h
ar
eh
o
ld
er
o
wn
er
s
h
ip
an
d
g
i
v
es
b
an
k
s
a
co
m
p
etitiv
e
ed
g
e
[
1
1
]
,
[
2
3
]
.
R
OE
ev
alu
ates
b
an
k
p
er
f
o
r
m
an
ce
f
r
o
m
s
h
ar
e
h
o
ld
er
s
’
v
ie
wp
o
in
t
[
5
6
]
.
Stro
n
g
tr
an
s
ac
tio
n
s
ec
u
r
ity
r
ed
u
c
es
s
ec
u
r
ity
b
r
ea
ch
es
a
n
d
e
n
s
u
r
e
s
s
tead
y
r
ev
en
u
es.
T
h
e
c
o
n
s
is
ten
cy
b
o
o
s
ts
s
h
ar
eh
o
ld
er
c
o
n
f
id
en
ce
a
n
d
e
q
u
ity
r
etu
r
n
s
[
2
0
]
.
Secu
r
e
tr
an
s
ac
tio
n
m
eth
o
d
s
im
p
r
o
v
e
clien
t
tr
u
s
t
an
d
r
eten
tio
n
,
in
cr
ea
s
in
g
b
u
s
in
ess
an
d
p
r
o
f
itab
ilit
y
a
n
d
R
OE
[
1
3
]
.
Stro
n
g
s
e
cu
r
ity
p
o
licies
im
p
r
o
v
e
f
in
a
n
cial
p
er
f
o
r
m
a
n
ce
in
d
icato
r
s
lik
e
R
OE
.
T
h
er
ef
o
r
e,
th
e
f
o
llo
win
g
is
h
y
p
o
th
esized
:
H1
b
: Ban
k
in
g
tr
a
n
s
ac
tio
n
s
ec
u
r
ity
in
cr
ea
s
es R
OE
.
T
o
b
in
’
s
Q,
th
e
r
atio
o
f
a
b
an
k
’
s
m
ar
k
et
v
alu
e
to
its
as
s
et
r
ep
lace
m
en
t
co
s
t,
in
d
icate
s
th
e
m
ar
k
et
’
s
o
u
tlo
o
k
f
o
r
g
r
o
wth
an
d
h
ea
lth
[
1
7
]
.
T
r
an
s
ac
tio
n
s
ec
u
r
ity
b
o
o
s
ts
a
b
a
n
k
’
s
m
a
r
k
et
v
alu
e
b
y
e
n
s
u
r
in
g
o
p
er
atio
n
al
s
tab
ilit
y
an
d
cu
s
to
m
er
co
n
f
id
e
n
ce
[
4
3
]
.
I
m
p
r
o
v
e
d
d
ep
en
d
a
b
ilit
y
ca
n
attr
ac
t
in
v
esto
r
s
,
r
aisi
n
g
th
e
b
an
k
’
s
m
a
r
k
et
v
alu
e
[
1
6
]
.
A
s
ec
u
r
e
b
a
n
k
h
as
a
r
ed
u
ce
d
r
is
k
p
r
o
f
ile,
wh
ich
b
o
o
s
ts
its
m
ar
k
et
v
alu
e
co
m
p
a
r
ed
to
its
ass
et
r
ep
lace
m
en
t
co
s
t
[
2
]
,
[
1
9
]
.
B
etter
s
ec
u
r
ity
lead
s
to
g
r
ea
ter
m
ar
k
et
v
alu
es
[
1
1
]
,
[
2
3
]
.
Hen
ce
,
it
is
h
y
p
o
th
esized
:
H1
c:
B
an
k
in
g
tr
an
s
ac
tio
n
s
ec
u
r
ity
in
cr
ea
s
es T
o
b
in
’
s
Q.
2
.
2
.
2
.
M
o
dera
t
ing
ro
le
o
f
re
g
ula
t
o
ry
qu
a
lity
B
ased
o
n
in
s
titu
tio
n
al
th
eo
r
y
,
b
an
k
s
’
s
tab
ilit
y
is
en
s
u
r
ed
b
y
e
f
f
ec
tiv
e
r
eg
u
latio
n
[
4
2
]
.
Secu
r
ity
m
ea
s
u
r
es
im
p
r
o
v
e
with
t
h
ese
r
estrictio
n
s
,
im
p
r
o
v
in
g
ass
et
u
s
ag
e
an
d
R
OA
[
5
7
]
.
I
n
co
u
n
tr
ies
wer
e
r
eg
u
lato
r
y
q
u
ality
is
h
ig
h
,
th
e
ce
n
tr
al
b
an
k
s
an
d
o
th
er
r
eg
u
lato
r
y
b
o
d
i
es
o
b
s
er
v
e
clo
s
ely
th
e
p
r
o
ce
d
u
r
es
o
f
b
an
k
s
an
d
en
ac
t
p
o
licy
to
p
r
o
tect
t
h
e
cu
s
to
m
er
s
[5
8
]
,
[
5
9
]
.
I
n
s
tr
ict
r
eg
u
lato
r
y
en
v
ir
o
n
m
e
n
ts
,
b
an
k
s
m
u
s
t
h
av
e
s
o
p
h
is
ticated
s
ec
u
r
ity
m
ea
s
u
r
es,
d
ec
r
ea
s
in
g
th
e
p
o
s
s
ib
ilit
y
o
f
m
ajo
r
f
in
an
cial
lo
s
s
es
f
r
o
m
b
r
ea
ch
es
[
2
0
]
.
R
eg
u
lato
r
y
q
u
ality
p
r
o
m
o
tes
f
in
an
cial
o
u
tco
m
es
b
y
p
r
e
s
er
v
in
g
s
h
ar
eh
o
ld
er
in
v
estm
en
ts
an
d
en
s
u
r
in
g
p
r
ed
ictab
le
f
in
an
cial
p
er
f
o
r
m
a
n
ce
,
h
el
p
in
g
b
an
k
s
m
ain
tain
c
o
n
s
is
ten
t
an
d
h
ig
h
e
r
R
OE
[
6
0
]
–
[
6
2
]
.
I
n
s
titu
tio
n
al
th
eo
r
y
also
s
u
g
g
ests
th
at
s
tr
o
n
g
r
eg
u
lato
r
y
f
r
am
ewo
r
k
s
im
p
r
o
v
e
tr
a
n
s
ac
tio
n
s
ec
u
r
ity
,
w
h
ich
b
o
o
s
ts
m
ar
k
et
tr
u
s
t
an
d
th
e
b
an
k
’
s
p
r
ice
r
ela
tiv
e
to
ass
et
r
ep
lace
m
en
t
c
o
s
ts
[
3
9
]
.
B
an
k
s
’
m
ar
k
et
v
alu
e
r
i
s
es
wh
en
in
v
esto
r
s
tr
u
s
t
its
r
eg
u
latio
n
.
T
o
b
in
’
s
Q
in
d
icate
s
r
eg
u
lato
r
y
tr
u
s
t
b
o
o
s
ts
m
ar
k
et
v
alu
e
an
d
tr
an
s
ac
tio
n
s
ec
u
r
ity
.
E
f
f
ec
tiv
e
r
eg
u
latio
n
s
b
o
o
s
t c
o
m
p
an
y
v
alu
es
[
6
3
]
,
[
6
4
]
.
T
h
er
ef
o
r
e,
th
e
f
o
llo
win
g
is
h
y
p
o
th
esized
:
H2
a:
R
eg
u
lato
r
y
q
u
ality
m
o
d
e
r
ates th
e
ef
f
ec
t o
f
t
r
an
s
ac
tio
n
s
ec
u
r
ity
o
n
R
OA.
H2
b
: Reg
u
lato
r
y
q
u
ality
m
o
d
e
r
ates th
e
ef
f
ec
t o
f
t
r
an
s
ac
tio
n
s
ec
u
r
ity
o
n
R
OE
.
H2
c:
R
eg
u
lato
r
y
q
u
ality
m
o
d
e
r
ates th
e
ef
f
ec
t o
f
t
r
an
s
ac
tio
n
s
ec
u
r
ity
o
n
T
o
b
i
n
’
s
Q.
3.
RE
S
E
ARCH
M
E
T
H
O
DO
L
O
G
Y
T
h
is
s
tu
d
y
is
q
u
a
n
titativ
e
u
s
in
g
p
a
n
el
d
ata.
T
h
e
s
tu
d
y
ex
a
m
in
es
th
e
ef
f
ec
t
o
f
b
an
k
i
n
g
t
r
an
s
ac
tio
n
s
ec
u
r
ity
o
n
f
in
an
cial
p
e
r
f
o
r
m
a
n
ce
in
GC
C
an
d
J
o
r
d
a
n
.
A
to
t
al
o
f
5
9
b
an
k
s
th
at
h
av
e
d
ata
b
etwe
en
2
0
1
5
-
2
0
2
2
wer
e
in
clu
d
ed
in
th
is
s
tu
d
y
.
Sev
er
al
s
o
u
r
ce
s
wer
e
u
s
ed
to
e
x
tr
ac
t
th
e
d
ata
t
h
at
ar
e
r
elate
d
to
th
e
v
a
r
iab
les
o
f
th
is
s
tu
d
y
.
B
an
k
r
elate
d
v
ar
iab
les
s
u
ch
as
R
OA,
R
OE
,
T
o
b
in
’
s
Q,
b
an
k
s
ize,
b
an
k
ag
e,
an
d
lev
er
ag
e
wer
e
co
llected
f
r
o
m
an
n
u
al
r
ep
o
r
ts
.
GDP
(
n
atu
r
al
lo
g
o
f
GDP)
an
d
in
f
latio
n
r
ate
was
o
b
tain
ed
f
r
o
m
th
e
W
o
r
ld
B
an
k
an
d
n
atio
n
al
s
tatis
tics
o
r
g
an
izatio
n
s
.
T
h
e
tr
a
n
s
ac
tio
n
s
ec
u
r
ity
d
ata
was
m
ea
s
u
r
ed
u
s
in
g
an
i
n
d
ex
.
Data
o
n
r
e
g
u
lato
r
y
q
u
ality
was
o
b
t
ain
ed
f
r
o
m
th
e
W
o
r
ld
B
an
k
’
s
W
o
r
ld
wid
e
Go
v
er
n
a
n
ce
I
n
d
i
ca
to
r
s
(
W
GI
)
[
2
2
]
.
Pan
el
d
ata
s
p
an
s
2
0
1
5
–
2
0
2
2
to
ca
p
tu
r
e
lo
n
g
-
ter
m
t
r
en
d
s
a
n
d
co
n
s
eq
u
en
ce
s
.
T
h
e
s
tu
d
y
u
s
es
th
e
f
o
llo
win
g
r
eg
r
e
s
s
io
n
m
o
d
el
to
an
aly
s
es t
h
e
d
ata:
Per
f
o
r
m
an
ce
it
(
R
OA,
R
OE
,
T
o
b
in
’
s
Q)
=β0
+β1
Sec
it
+β2
R
eg
Q
it
+β3
(
Sec
it
×Reg
Q
it
)
+β4
GDP
it
+β5
I
n
f
latio
n
it
+β6
Size
it
+β7
A
g
e
it
+β8
L
ev
er
a
g
e
it
+ϵ
it
W
h
er
e:
−
P
e
r
f
o
r
m
a
n
c
e
:
r
e
p
r
e
s
e
n
t
s
t
h
e
f
i
n
a
n
c
i
a
l
p
e
r
f
o
r
m
a
n
c
e
m
e
as
u
r
e
s
(
R
O
A
,
R
O
E
,
T
o
b
i
n
’
s
Q
)
f
o
r
b
an
k
i
a
t
t
i
m
e
t
.
−
Secu
r
ity
(
Sec)
d
en
o
tes th
e
lev
el
o
f
tr
an
s
ac
tio
n
s
ec
u
r
ity
f
o
r
b
an
k
i a
t tim
e
t.
−
R
eg
u
lato
r
y
q
u
ality
(
R
eg
Q)
r
ep
r
esen
ts
th
e
r
eg
u
lato
r
y
q
u
ality
f
o
r
co
u
n
tr
y
i a
t tim
e
t.
−
Sec×
R
eg
Q:
is
th
e
in
ter
ac
tio
n
ter
m
b
etwe
en
tr
a
n
s
ac
tio
n
s
ec
u
r
ity
an
d
r
e
g
u
lato
r
y
q
u
ality
.
−
GDP
an
d
I
n
f
latio
n
: a
r
e
th
e
m
a
cr
o
ec
o
n
o
m
ic
co
n
t
r
o
l v
ar
ia
b
les.
−
Size,
ag
e,
an
d
le
v
er
ag
e
: a
r
e
th
e
b
an
k
-
s
p
ec
if
ic
c
o
n
tr
o
l v
ar
iab
l
es.
−
ϵ
it
: is th
e
er
r
o
r
ter
m
.
A
to
tal
o
f
5
9
b
an
k
s
wer
e
i
n
clu
d
ed
in
t
h
is
s
tu
d
y
.
T
h
ese
b
an
k
s
ar
e
all
I
s
lam
ic
b
a
n
k
s
wo
r
k
i
n
g
in
GC
C
an
d
J
o
r
d
an
.
T
h
e
d
ata
is
b
alan
ce
d
b
ec
au
s
e
o
b
s
er
v
atio
n
s
f
r
o
m
all
b
an
k
s
ar
e
av
ailab
le.
I
n
to
tal,
th
e
s
tu
d
y
Evaluation Warning : The document was created with Spire.PDF for Python.
I
n
d
o
n
esian
J
E
lec
E
n
g
&
C
o
m
p
Sci
I
SS
N:
2502
-
4
7
5
2
B
a
n
kin
g
s
ec
u
r
ity
a
n
d
p
erfo
r
ma
n
ce
o
f isl
a
mic
b
a
n
ks in
mid
d
l
e
…
(
Mo
h
a
mme
d
A
b
d
-
A
k
a
r
im
A
lmo
ma
n
i
)
695
c
o
l
l
e
c
t
e
d
4
7
2
o
b
s
e
r
v
at
i
o
n
s
(
8
*
5
9
=
4
7
2
)
.
T
h
e
d
a
t
a
w
a
s
e
x
a
m
i
n
e
d
f
o
r
t
h
e
a
s
s
u
m
p
ti
o
n
o
f
r
e
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r
e
s
s
i
o
n
a
n
a
l
y
s
i
s
a
n
d
i
t
w
a
s
f
o
u
n
d
t
h
a
t
t
h
e
r
e
is
n
o
m
u
l
t
i
c
o
ll
i
n
e
a
r
it
y
i
s
s
u
e
s
(
v
a
r
ia
t
i
o
n
i
n
f
l
a
t
i
o
n
f
a
c
t
o
r
(
V
I
F
)
is
l
ess
th
a
n
5
a
n
d
1
/
V
I
F
i
s
g
r
e
a
t
e
r
t
h
a
n
0
.
2
0
)
a
m
o
n
g
t
h
e
v
a
r
i
a
b
l
e
s
a
n
d
t
h
e
d
a
t
a
h
as
n
o
r
m
a
l
d
i
s
t
r
i
b
u
t
i
o
n
(
s
k
e
w
n
ess
a
n
d
k
u
r
t
o
s
is
l
es
s
t
h
a
n
2
)
.
4.
F
I
NDING
S
4
.
1
.
Descript
iv
e
info
rma
t
io
n
T
ab
le
1
s
h
o
ws
th
e
d
escr
ip
ti
v
e
in
f
o
r
m
atio
n
o
f
th
e
v
a
r
iab
les.
Fo
r
tr
an
s
ac
tio
n
s
ec
u
r
ity
,
th
e
in
d
e
x
in
d
icate
d
th
at
th
er
e
is
h
ig
h
le
v
el
o
f
tr
a
n
s
ac
tio
n
s
ec
u
r
ity
am
o
n
g
b
an
k
s
with
m
ea
n
o
f
0
.
9
2
an
d
lo
w
v
ar
iatio
n
.
T
h
e
r
e
g
u
lato
r
y
q
u
ality
is
l
o
w
with
v
al
u
e
o
f
0
.
3
9
wh
e
r
e
2
.
5
co
n
s
id
er
e
d
h
ig
h
an
d
-
2
.
5
co
n
s
id
er
ed
lo
w.
R
OA
an
d
R
OE
wer
e
n
eg
ativ
e
an
d
t
h
is
co
u
ld
b
e
d
u
e
to
C
OVI
D1
9
wh
ile
th
e
m
ea
n
o
f
R
OA
ac
co
u
n
ted
to
2
.
3
3
an
d
f
o
r
R
OE
,
it is
7
.
7
9
.
Fo
r
T
o
b
in
’
s
Q
,
th
e
m
ar
k
et
v
alu
e
is
h
ig
h
er
th
an
th
e
b
o
o
k
v
al
u
e
with
m
ea
n
o
f
1
.
0
2
.
Fu
r
th
er
,
th
e
n
atu
r
al
lo
g
o
f
b
an
k
s
ize
a
cc
o
u
n
ted
f
o
r
1
6
.
1
3
wh
ile
th
e
b
an
k
a
g
e
r
a
n
g
ed
b
etwe
en
1
3
an
d
4
7
an
d
m
ea
n
o
f
1
9
y
ea
r
s
.
T
h
e
lev
er
ag
e
r
atio
r
an
g
ed
b
etwe
en
0
.
2
1
to
0
.
5
9
an
d
m
ea
n
o
f
0
.
2
9
.
Fo
r
GDP,
th
e
v
alu
es
r
an
g
e
d
b
etwe
en
1
7
.
2
3
a
n
d
2
3
.
4
a
n
d
m
ea
n
o
f
2
1
.
3
4
.
T
h
e
in
f
latio
n
wa
s
b
etwe
en
1
an
d
4
an
d
m
ea
n
o
f
2
.
1
.
T
ab
le
1
.
Descr
ip
tiv
e
in
f
o
r
m
ati
o
n
V
a
r
i
a
b
l
e
M
i
n
i
m
u
m
M
a
x
i
m
u
m
M
e
a
n
S
t
d
.
d
e
v
i
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if
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ter
m
s
o
f
R
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b
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’
s
Q.
No
m
ajo
r
in
f
lu
e
n
ce
o
n
R
OA.
Fo
r
th
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co
n
tr
o
l v
ar
iab
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th
e
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f
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t
o
f
GDP,
f
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m
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lev
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a
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d
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R
OE
,
an
d
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t
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r
in
f
latio
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f
ec
t
is
o
n
ly
s
ig
n
if
ican
t
with
T
o
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s
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Stro
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cr
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u
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t,
im
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E
f
f
icie
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t tr
an
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ac
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p
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d
u
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p
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tr
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ca
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y
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y
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h
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m
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tain
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g
f
in
a
n
cial
s
tab
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y
an
d
in
v
esto
r
t
r
u
s
t
[
3
3
]
.
T
r
an
s
ac
tio
n
s
ec
u
r
ity
Evaluation Warning : The document was created with Spire.PDF for Python.
I
SS
N
:
2
5
0
2
-
4
7
5
2
I
n
d
o
n
esian
J
E
lec
E
n
g
&
C
o
m
p
Sci
,
Vo
l.
39
,
No
.
1
,
J
u
ly
20
25
:
69
1
-
6
9
9
696
im
p
ac
ts
ex
ter
n
al
im
p
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ess
io
n
s
an
d
s
h
ar
e
h
o
ld
er
,
n
o
t
ass
et
u
s
ag
e
ef
f
icien
cy
,
wh
ich
m
ay
ex
p
lain
its
lack
o
f
in
f
lu
en
ce
o
n
R
OA
[
3
4
]
.
R
OA
d
ep
en
d
s
o
n
th
e
b
an
k
’
s
as
s
ets
’
o
p
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atio
n
al
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f
icien
cy
,
wh
ich
m
ay
b
e
less
in
f
lu
en
ce
d
b
y
tr
a
n
s
ac
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ec
u
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ity
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an
s
h
ar
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r
etu
r
n
s
an
d
m
ar
k
et
v
alu
es.
Fo
r
test
in
g
th
e
m
o
d
er
atin
g
e
f
f
ec
t
o
f
r
e
g
u
lato
r
y
q
u
ality
,
T
ab
le
3
s
h
o
ws
th
e
r
esu
lts
.
I
t
s
h
o
ws
th
at
r
eg
u
lato
r
y
q
u
ality
m
o
d
e
r
ated
t
h
e
lin
k
b
etwe
en
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an
s
ac
tio
n
s
e
cu
r
ity
an
d
R
OE
an
d
T
o
b
in
’
s
Q.
Ho
wev
er
,
it
d
id
n
o
t m
o
d
er
ate
th
e
in
f
lu
en
ce
o
n
R
OA.
T
ab
le
3.
R
esu
lt o
f
m
o
d
er
atio
n
R
O
A
R
O
E
To
b
i
n
’
s Q
Tr
a
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s
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t
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n
sec
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r
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t
y
0
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0
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2
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l
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1
.
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h
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f
in
d
in
g
s
ab
o
v
e
i
n
d
icate
th
at
s
tr
o
n
g
r
eg
u
lato
r
y
q
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ali
ty
en
s
u
r
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k
s
f
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h
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ity
r
eq
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ir
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e
n
ts
,
im
p
r
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v
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n
g
tr
an
s
ac
tio
n
s
ec
u
r
ity
.
T
r
an
s
ac
tio
n
s
ec
u
r
ity
b
o
o
s
ts
s
h
ar
eh
o
ld
er
p
r
o
f
its
an
d
m
ar
k
et
v
alu
e
with
r
eg
u
lato
r
y
m
o
n
ito
r
in
g
.
T
h
is
m
o
n
ito
r
in
g
ass
u
r
es
i
n
v
esto
r
s
an
d
s
tak
eh
o
ld
er
s
o
f
t
h
e
b
an
k
’
s
s
tab
ilit
y
an
d
s
ec
u
r
ity
.
I
n
s
titu
tio
n
al
th
e
o
r
y
em
p
h
asizes
th
e
r
o
le
o
f
f
o
r
m
al
r
eg
u
lato
r
y
f
r
a
m
ewo
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k
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r
g
a
n
izatio
n
al
p
r
ac
tices a
n
d
p
er
f
o
r
m
a
n
ce
[
4
0
]
.
5.
I
M
P
L
I
CA
T
I
O
N
S
T
h
is
s
tu
d
y
h
as
co
n
tr
ib
u
te
d
to
th
e
liter
atu
r
e
a
n
d
p
r
ac
tices.
T
h
e
ap
p
licab
ilit
y
o
f
R
B
V
is
co
n
f
i
r
m
e
d
b
ec
au
s
e
tr
an
s
ac
tio
n
s
ec
u
r
ity
i
s
a
u
n
iq
u
e
ass
et
th
at
ca
n
b
o
o
s
t
s
h
ar
eh
o
ld
er
r
et
u
r
n
s
(
R
OE
)
an
d
m
a
r
k
et
v
alu
e
(
T
o
b
in
’
s
Q)
.
T
h
is
s
tu
d
y
em
p
h
asizes
tr
an
s
ac
tio
n
s
ec
u
r
ity
’
s
s
tr
ateg
ic
v
alu
e
to
b
an
k
s
’
f
in
an
cial
p
er
f
o
r
m
an
ce
.
T
h
e
R
B
V
s
u
g
g
ests
th
at
in
ter
n
al
r
eso
u
r
ce
s
a
n
d
c
o
m
p
eten
cies
d
r
iv
e
b
u
s
in
ess
s
u
cc
ess
.
R
eg
u
latin
g
q
u
ality
m
o
d
er
ates’
tr
a
n
s
ac
tio
n
s
ec
u
r
i
ty
’
s
ef
f
ec
t
o
n
R
OE
a
n
d
T
o
b
in
’
s
Q,
em
p
h
asizin
g
in
s
titu
tio
n
al
f
r
am
ew
o
r
k
s
’
im
p
o
r
tan
ce
.
Stro
n
g
r
eg
u
lato
r
y
r
eq
u
ir
em
en
ts
h
elp
b
a
n
k
s
m
ain
tain
s
ec
u
r
ity
,
im
p
r
o
v
in
g
f
in
a
n
cial
p
er
f
o
r
m
a
n
ce
.
I
n
s
titu
tio
n
al
th
eo
r
y
em
p
h
asis
es
th
e
ef
f
ec
t
o
f
r
e
g
u
lato
r
y
,
n
o
r
m
ativ
e,
an
d
cu
ltu
r
al
-
c
o
g
n
itiv
e
elem
en
ts
o
n
o
r
g
an
is
atio
n
al
b
e
h
av
io
u
r
an
d
o
u
tco
m
es,
an
d
t
h
is
f
in
d
in
g
e
m
p
h
asis
es
th
e
n
ee
d
o
f
a
s
tr
o
n
g
b
an
k
in
g
r
eg
u
lato
r
y
f
r
am
ewo
r
k
.
B
an
k
in
g
m
a
n
ag
em
en
t
s
h
o
u
l
d
in
v
est
in
ef
f
ec
tiv
e
tr
a
n
s
ac
tio
n
s
ec
u
r
ity
m
ea
s
u
r
es
to
b
o
o
s
t
s
h
ar
eh
o
ld
e
r
r
etu
r
n
s
a
n
d
m
ar
k
et
v
alu
e.
I
n
v
estme
n
ts
ar
e
cr
u
cial
t
o
c
o
n
s
u
m
er
tr
u
s
t
an
d
f
in
an
cial
s
tab
ilit
y
.
E
f
f
e
ctiv
e
tr
an
s
ac
tio
n
s
ec
u
r
ity
p
r
o
tects
a
g
ain
s
t
f
in
an
cial
lo
s
s
es
an
d
b
u
ild
s
a
g
o
o
d
r
e
p
u
tatio
n
.
T
h
is
is
cr
u
cial
to
ac
q
u
ir
in
g
an
d
m
ai
n
tain
in
g
co
n
s
u
m
er
s
an
d
in
v
estme
n
t.
Po
licy
m
a
k
er
s
m
u
s
t
s
et
a
n
d
m
ain
tai
n
s
tr
o
n
g
r
e
g
u
lato
r
y
r
eq
u
ir
em
e
n
ts
to
m
ax
im
ize
t
r
an
s
ac
tio
n
s
ec
u
r
ity
b
en
ef
its
.
Po
licy
m
ak
er
s
m
u
s
t
em
p
h
a
s
ize
b
an
k
s
ec
u
r
ity
leg
is
latio
n
an
d
en
f
o
r
ce
m
e
n
t.
T
h
is
will
p
r
o
tect
in
v
esto
r
s
an
d
m
ar
k
et
co
n
f
i
d
en
ce
.
T
h
e
cr
e
atio
n
o
f
r
eg
u
lato
r
y
f
r
am
ewo
r
k
s
s
h
o
u
ld
em
p
h
asize
tr
an
s
ac
tio
n
s
ec
u
r
ity
b
est
p
r
ac
tices.
T
h
ese
f
r
am
ewo
r
k
s
s
h
o
u
ld
h
a
v
e
ex
p
licit
cr
iter
ia
an
d
s
tr
ict
co
n
tr
o
l to
as
s
u
r
e
co
m
p
lian
ce
.
6.
CO
NCLU
SI
O
N
T
h
is
r
esear
ch
f
o
u
n
d
th
at
tr
an
s
ac
tio
n
s
ec
u
r
ity
im
p
r
o
v
es
b
a
n
k
R
OE
an
d
T
o
b
i
n
’
s
Q.
T
h
e
r
esear
ch
also
s
tr
ess
e
s
th
e
im
p
o
r
tan
ce
o
f
r
eg
u
lato
r
y
q
u
ality
in
r
eg
u
latin
g
t
h
is
lin
k
.
T
h
e
r
esu
lts
em
p
h
asis
e
f
in
an
cial
s
ec
u
r
ity
an
d
r
eg
u
lato
r
y
ef
f
icien
c
y
.
T
r
an
s
ac
tio
n
s
ec
u
r
ity
an
d
s
tr
ict
r
eg
u
lato
r
y
r
e
q
u
ir
em
e
n
ts
ca
n
im
p
r
o
v
e
b
an
k
s
’
f
in
an
cial
p
er
f
o
r
m
an
ce
,
b
o
o
s
tin
g
s
h
ar
eh
o
ld
e
r
s
an
d
m
ar
k
et
t
r
u
s
t.
B
an
k
m
an
ag
em
en
t
an
d
r
eg
u
lato
r
s
ca
n
lear
n
f
r
o
m
th
is
r
e
s
ea
r
ch
ab
o
u
t
t
h
e
n
ec
ess
ity
o
f
s
ec
u
r
ity
in
v
estme
n
t
an
d
tig
h
t
r
eg
u
lato
r
y
f
r
a
m
ewo
r
k
.
T
h
is
s
tu
d
y
was
lim
ited
to
tr
an
s
ac
tio
n
s
ec
u
r
ity
wh
ich
m
ig
h
t
n
o
t
f
u
lly
e
x
p
l
ain
th
e
f
i
n
an
cial
p
e
r
f
o
r
m
an
ce
.
T
h
e
s
tu
d
y
is
also
lim
ited
to
GC
C
an
d
J
o
r
d
an
.
T
o
in
cr
ea
s
e
g
en
er
aliza
b
il
ity
,
f
u
t
u
r
e
s
tu
d
y
m
ay
in
clu
d
e
m
o
r
e
n
atio
n
s
an
d
a
lo
n
g
er
tim
e
s
p
an
.
E
x
p
an
d
in
g
b
an
k
in
g
s
ettin
g
s
m
ay
r
ev
ea
l
th
e
wo
r
ld
wid
e
in
f
lu
en
ce
o
f
tr
an
s
ac
tio
n
s
ec
u
r
ity
o
n
b
an
k
p
er
f
o
r
m
an
ce
.
Ad
d
itio
n
al
v
ar
i
ab
les
ca
n
b
e
in
clu
d
ed
s
u
ch
a
s
tech
n
ical
ad
v
an
ce
s
,
cy
b
er
s
e
cu
r
ity
in
v
estme
n
ts
,
an
d
m
ar
k
et
co
m
p
etitiv
en
ess
.
Ad
d
in
g
th
ese
c
h
ar
ac
ter
is
tics
ca
n
h
elp
e
x
p
lain
in
g
th
e
lin
k
b
etwe
en
tr
an
s
ac
tio
n
s
ec
u
r
ity
an
d
f
i
n
an
cial
p
er
f
o
r
m
an
ce
.
Qu
alitativ
e
d
ata
f
r
o
m
b
a
n
k
m
an
a
g
em
en
t
a
n
d
r
e
g
u
lato
r
in
ter
v
iews
ca
n
b
e
a
d
ir
ec
tio
n
f
o
r
f
u
tu
r
e
wo
r
k
to
ex
p
lain
th
e
r
elatio
n
s
h
ip
b
etwe
en
tr
an
s
ac
tio
n
s
ec
u
r
ity
a
n
d
f
i
n
an
cial
p
er
f
o
r
m
an
ce
.
Evaluation Warning : The document was created with Spire.PDF for Python.
I
n
d
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J
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&
C
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m
p
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RE
F
E
R
E
NC
E
S
[
1
]
M
.
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l
-
M
a
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h
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.
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h
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j
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a
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g
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p
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rn
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.
[
2
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H
.
A
.
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l
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a
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.
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l
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h
e
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p
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o
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f
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n
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h
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o
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i
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f
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:
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d
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g
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n
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o
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p
.
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2
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4
.
[
5
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M
.
A
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.
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b
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,
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d
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f
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t
,
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H
.
Y
.
C
h
a
n
,
“
D
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ma
t
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me
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a
se
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