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PISA in Romania: How Public Institutions (Do Not) Use Expert Knowledge

PISA in Romania: How Public Institutions (Do Not) Use Expert Knowledge

PISA în România: cum (nu) folosesc instituţiile publice expertiza ştiinţifică

Author(s): Sorana Toma,Liviu Ştirbăţ / Language(s): Romanian / Issue: 148/2010

Keywords: PISA; OECD; education policy; migration; expert knowledge

The article discusses how public institutions in Romania use or do not use the expert knowledge of the OECD’s PISA programme, given that they finance and participate in it. A certain lack of engagement is noticed, but signs of increased interest in using PISA as a legitimizing tool for reform are also noted. As conclusion, research directions having high potential applicability in education policy are identified.

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Anthropology of the body

Anthropology of the body

Antropologia corpului

Author(s): Silviu Petre,Mirela Băcanu Vasile / Language(s): Romanian / Issue: 148/2010

Review of: David Le Breton, Antropologia corpului şi modernitatea, Traducere Doina Lică, Editura Amarcord, Timişoara, 2002, 256 p.

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The Age of Ghost-Modernism? The Neo-liberal Globalization Project vs. the Anti-Globalization Counter-Narrative: A Dialogic Inquiry

The Age of Ghost-Modernism? The Neo-liberal Globalization Project vs. the Anti-Globalization Counter-Narrative: A Dialogic Inquiry

The Age of Ghost-Modernism? The Neo-liberal Globalization Project vs. the Anti-Globalization Counter-Narrative: A Dialogic Inquiry

Author(s): Bogdan Lepădatu / Language(s): English / Issue: 148/2010

Keywords: anthropo-localism; counter-narrative; corporatism/fascism-with-a-neo-liberal-face; consociationalism; ghost-modernism/spectral modernity; hyper-reality

The hollow closure of post-modernity's neo-liberal formative context and codifying social practices is what I refer to as „ghost-” or „spectral modernity”. According to Schumpeter's classification, this commodified, irreflexive and „eternal now” that we keep traversing at ever-increasing speed is the fourth (and final!) Kondratieff long-wave of capitalist cycles. After the trinity of the Industrial Revolution (1780s – 1842), the „Railroad-ization” (1842 – 1897) and the „Innovative Revolution” (1898 - end of the 1930s) we are now traversing another trinity: Modernity – Post-Modernity – Ghost-Modernity (spanning the two Great Depressions, and brought about by arguably the most revered trinity since the advent of the cult of Christianity: privatisation, de-regulation and global economic „liberalization”).

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Private Capital Flows to Low-Income Countries: The Role of Domestic Financial Sector

Private Capital Flows to Low-Income Countries: The Role of Domestic Financial Sector

Private Capital Flows to Low-Income Countries: The Role of Domestic Financial Sector

Author(s): Zulkornain Yusop,Siew-Yong Lam,Chee-Keong Choong / Language(s): English / Issue: 4/2010

Keywords: private capital flows; stock market; growth; panel data analysis

he relationship between private capital flows and growth has been examined extensively in the literature, yet numerous controversies still remain. The study examines the relationships among private capital flows (foreign direct investment, portfolio investment and foreign debt), financial development and economic performance in a sample of 16 low-income developing countries over the period 1988–2006, by employing generalized method of moments (GMM) panel data analysis. We find that private capital flows have a positive impact on growth in low-income countries with well-developed financial sector but have a negative effect in the presence of poor financial sector development. Well-developed financial sectors are ones that are themselves crucial for economic growth. Our results indicate that private capital flows would be more effective if they were more systematically conditional on well-developed financial systems.

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A Multi-Period Newsvendor Problem with Pre-Season Extension under Fuzzy Demand

A Multi-Period Newsvendor Problem with Pre-Season Extension under Fuzzy Demand

A Multi-Period Newsvendor Problem with Pre-Season Extension under Fuzzy Demand

Author(s): Cengiz Kahraman,Hülya Behret / Language(s): English / Issue: 4/2010

Keywords: inventory problem; fuzzy modeling; newsvendor; innovative product; fuzzy demand; fuzzy inventory cost; pre-season

This paper proposes a fuzzy multi-period newsvendor model with pre-season extension for innovative products. The demand of the product is represented by fuzzy numbers with triangular membership function. The holding and shortage cost parameters are considered as imprecise and also represented by triangular fuzzy numbers. As the selling season draws closer, suppliers lead times shortens and thus production costs increase. In contrast, caused by the oncoming selling season, demand fuzziness decreases and more accurate demand forecasts can be maintained that lead to lower overage/underage costs. The objective of the model is to find the best order period and the best order quantity that will minimize the fuzzy expected total cost. The model is experimented with an illustrative example and supported by sensitivity analyses.

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THE MARITIME LEADERSHIP AS A CHALLENGE TO SCIENCE AND PRACTICE: MANAGEMENT PSYCHOLOGY STRATEGIC PROSPECT

THE MARITIME LEADERSHIP AS A CHALLENGE TO SCIENCE AND PRACTICE: MANAGEMENT PSYCHOLOGY STRATEGIC PROSPECT

JŪRŲ LYDERYSTĖ – IŠŠŪKIS MOKSLUI IR PRAKTIKAI: VALDYMO PSICHOLOGIJOS STRATEGINĖ PERSPEKTYVA

Author(s): Saulius Lileikis / Language(s): Lithuanian / Issue: 2/2014

Keywords: Maritime leadership; maritime policy; management psychology; strategic prospect; seafarer’s personality.

The maritime leadership partially became a new challenge of the shipping practice and maritime science. The philosophy of the maritime leadership is understood from the political point of view. However, opportunities of its implementation are and must be scientifically investigated under various relevant psychosocial and technological aspects. It is appropriate to investigate the strategic line of the maritime leadership in regard to the mention argumentation and to big variety of scientific ideas, conceptions and positions. The object of the research consists of the maritime leadership phenomenon. The aim of the research is the discussion of a strategic line of the maritime leadership. Tasks are as follows: 1. Revelation of the maritime leadership educational prospect. 2. Characterization of the leadership and anti-leadership principal moments. 3. Definition of the self-leadership, life- and supporting leadership. 4. Revelation of psychological defense mechanisms. Research methodology: International Standards of Training, Certification and Watchkeeping for Seafarers (STCW Convention) with Manila amendments require the leadership training and applying in the ship-crew (STCW Manila Seafarer Training Amendments [...], 2011). Shipping safety relates to applying the maritime leadership. This kind of leadership is based on the self-leadership development and expression, and is characterized by the positive worldview, creativity, wide intellectual horizon, perception of psychological defense mechanisms and its partial management, and collaborative culture in the ship-crew. The paradigm of universal upbringing orients to develop all powers of the personality at horizontal and vertical levels of human existence according to biologic, psychological and spiritual needs and its satisfaction (Jovaisa, 2001). The integral development of the personality’s self-leadership competence is universally based on the paradigm from the psychological point of view. The type of the research is theoretically descriptive and qualitative. Methods such as retrospective analysis of the scientific literature, meta-analysis, comparison, heuristic method and synthesis were used in the research. The maritime leadership, based on the moral and special authority, has been traditionally and indirectly developed in Eastern Europe in the educational prospect of the maritime leadership. It has been oriented to the combining of personal, social and technologic competences by noting an academic symbiosis of the maritime leaders and scientists in seafarers’ preparation. An active prosocial tendency, from the point of view of the results, characterizes the principal moments of the leadership. Anti-leadership is characterized by ignoring of rules of the organizational coexistence. Leadership, that promotes the working-awareness of the crew members, is relevant to working at the sea in extreme conditions. The self-leadership is an orientation to oneself, to the consciousness o

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LITHUANIAN PENSION SYSTEM REFORM INEVITABILITY

LITHUANIAN PENSION SYSTEM REFORM INEVITABILITY

LIETUVOS PENSIJŲ SISTEMOS REFORMAVIMO NEIŠVENGIAMUMAS

Author(s): Jurgita Karalevičienė,Edita Dyglytė / Language(s): Lithuanian / Issue: 2/2014

Keywords: Pension; pension system; pension system structure; pension system reform; pension system reform alternatives.

This article deals with Lithuanian Republic pension system analysis in 1995 – 2012. The article discusses the concept of pension system, their structure, forms and models, identifies the pension systems and pension size factors and the main their features. Also article identifies possible types of pension system reform and their basic theoretical alternatives. While analyzing the 1995 – 2012 years pension system and its change, in order to identify the weakest countries areas and adapted theoretical rational for pension system reform. Also in article calculated basic pension system performance indicatos, made analysis of Lithuanian social insurance fund situation. For all indicators were determinate average, minimum and maximum values. Identify regression model which determine the key factors influencing pension size variation.

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MANAGING RESTRUCTURING PROCESSES OF SMALL AND MIDDLE SIZE ENTERPRISES

MANAGING RESTRUCTURING PROCESSES OF SMALL AND MIDDLE SIZE ENTERPRISES

MANAGING RESTRUCTURING PROCESSES OF SMALL AND MIDDLE SIZE ENTERPRISES

Author(s): Andrius Tamošiūnas / Language(s): English / Issue: 2/2014

Keywords: Small and middle size enterprise; restructuring; management; process; business development;

The paper presents the management model for restructuring small and middle size enterprises specifying measures for improving strategic management, rationalizing management functions as well as controlling restructuring process and assessing influence of its results on SME competitiveness. The model consists of the following phases composing the integral cycle of SME restructuring process: 1) justifying the restructuring expediency; 2) designing the restructuring strategy and its implementation programme; 3) implementing restructuring programme; 4) controlling restructuring programme implementation; 5) evaluating restructuring benefit. In order to justify SME restructuring demand it is necessary, first of all, to evaluate the current efficiency of SME activity, identifying strengths, weaknesses and possible threats for enterprise competitiveness, evaluating efficiency of enterprise current strategy and viability of its use. Having identified the demand of enterprise restructuring it is proposed to prepare the restructuring strategy following the recommended order. When making strategic enterprise restructuring decisions it is necessary to evaluate restructuring reasons as well as the objectives relying on the conclusions of SME activity efficiency evaluation. On the basis of the research results the regularities for enterprise restructuring strategic decisions making are determined and respectively are proposed. In order to make the best strategic decisions it is necessary to analyze the possible results of enterprise restructuring strategy alternatives applying technique of comparative analysis. When preparing the programme it is also recommended to use the determined regularities of application of enterprise restructuring techniques. When implementing the restructuring programme the following tasks have to be solved: a) to renew the strategic management system; b) to rationalize the management of enterprise in terms of efficiency increase of enterprise strategy and its functional strategies; c) to execute programme tasks at the level of enterprise functional departments and business units. Aiming to rationally manage the implementation of the restructuring programme and achieve the maximal benefit, it is necessary to ensure a rational implementation of restructuring measures. It is proposed to execute this task with the help of the proposed technique, which allows evaluating the benefit of measures under implementation and identifying application disadvantages and their reasons. Respective model is also presented as to evaluate the efficiency of SME restructuring. Having in mind the context the proposed model for management of SME restructuring programmes let the following: to justify the need for restructuring; to prepare the programme for SME restructuring determining restructuring strategy and ways for the increase of efficiency of enterprise activity; to control the process of restructuring, evaluating the effect of restructuring m

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ASSESSMENT OF THE MANAGERIAL COMPETENCES DEVELOPED IN BUSINESS SIMULATION ENTERPRISE: BUSINESS SIMULATION ENTERPRISE MANAGERS‘ APPROACH

ASSESSMENT OF THE MANAGERIAL COMPETENCES DEVELOPED IN BUSINESS SIMULATION ENTERPRISE: BUSINESS SIMULATION ENTERPRISE MANAGERS‘ APPROACH

UGDOMŲ VERSLO IMITACINĖS ĮMONĖS VADYBINIŲ KOMPETENCIJŲ ĮVERTINIMAS: VERSLO IMITACINĖS ĮMONĖS VADOVŲ POŽIŪRIS

Author(s): Jurgita Martinkienė / Language(s): Lithuanian / Issue: 2/2014

Keywords: Managerial competences; education; business simulation enterprise; managers.

Article represents the conception of Business Simulation Enterprise, integration of Business Simulation Enterprise into educational process of higher education institutions. During the higher non-university study process students must acquire managerial competence of European level that would give them the ability to adapt and compete in the labor market. During the Professional Activity Practice in Business Simulation Enterprise students are able to gain or improve such managerial competence. Business Simulation Enterprise is a method for forming students‘ practical skills, the necessity of which is dictated by nowadays situation of preparing Management and Economics professionals. Business Simulation Enterprise is a virtual firm of practical education in which retail and wholesale trade can be conducted, services (such as transportation, insurance, etc.) can be provided. Students working at this c enterprise have an opportunity to execute the economic analysis of personnel, purchases, sales and storage of goods (materials), analysis of marketing activities. These functions are performed on a rotational basis, when the possibility for each student to gain practice in every functional departments of the Enterprise is created. Establishment of Business Simulation Enterprise in a higher education institutions allow to bring the process of educating managerial competence closer to the business environment in which all activities of business enterprise can be simulated. In this way students‘ professional, social, personal and other important managerial competence are being formed. Created business environment let students to familiarize with chosen profession, not only to prepare for work but also to create their own business. These are the reasons for analysing and summarizing the results of the research in educating managerial competence in Business Simulation Enterprise. The results revealed evaluation of Business Simulation Enterprise‘managers in a subject of competence of business management professionals. According to quantitative study results, the managers of Business Simulation Enterprise set an education process of managerial competence in business simulation enterprise and according to them, these managerial competence in Business Simulation Enterprise‘s activity include: working with information, accuracy, creativity, organizational abilities, formation and development of team, written communication, time management, verbal communication, flexibility, effective relations, self – confidence, evaluation of achievements, self – control, determination, self – management, the pursuit of personal goals, etc. Therefore in order to educate managerial competence in Business Simulation Enterprise a list of 25 managerial competence was created. According to the opinion of Business Simulation Enterprise‘s managers managerial competence are strongly educated in Business Simulation Enterprise.

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COMMON CURRENCY EURO: INTERNATIONAL IMPORTANCEAND PERSPECTIVES

COMMON CURRENCY EURO: INTERNATIONAL IMPORTANCEAND PERSPECTIVES

BENDROJI VALIUTA EURAS: TARPTAUTINĖ REIKŠMĖ BEI PERSPEKTYVOS

Author(s): Gediminas Davulis / Language(s): Lithuanian / Issue: 2/2014

Keywords: Euro; European integration; European Union; European Monetary Union; European Central Bank; Euro crisis.

The article presents the procecess of European integration, emphasizing the main moments of this process. The integration process of Europe, the result of which is foundation of European Union and latter the establishment of the European Monetary Union with common currency Euro, is one of the most significant processes, in the political and economic sense, during the whole history of Europe. Formally European Monetary Union exist since January 1, 1999, and Euro as cash started functioning in twelve states of EU since January 1, 2002. Adoption of Euro ended the 50 year lasting money integration process. Euro became the key axis of integration. In the contest of the international monetary system, formation of European Monetary Union with common currency is perhaps the most important event since the failure of the world monetary system that functioned on the basis of the Bretton Woods treaty. The historical assumptions of the European economic, the main syages up creation integration process, the main stages of creation of European Monetary Union and adoption of the Euro are discussed in the article. The European system of Central banks and principles of its monetary policy are discussed in the article. The international role of Euro, its increasing international weight during the pre-crisis period and its impact on economy of countries of European Monetary Union is analysed. The strategy of adoption of Euro in Lithuania and joining it the European Monetary Union with taking into account the experience of other countries is discussed. The present situation in the Euro zone, its problems and perspectives of the European Union and a single currency are discussed. The analysis shows that the European Monetary Union and a single currency will have long-term perspectives only if specific radical measures, especially in the spheres of monetary and fiscal policy of European Union, and closer integration between the countries are taken.

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THE PROBLEMS OF OPTIMAL CAPITAL STRUCTURE FORMATION IN COMPANIES OF THE MARITIME INDUSTRY SECTOR

THE PROBLEMS OF OPTIMAL CAPITAL STRUCTURE FORMATION IN COMPANIES OF THE MARITIME INDUSTRY SECTOR

OPTIMALIOS KAPITALO STRUKTŪROS FORMAVIMO PROBLEMOS LIETUVOS JŪRINIO SEKTORIAUS VERSLO ĮMONĖSE

Author(s): Kristina Puleikienė,Angelė Lileikienė,Vilija Bujanauskienė / Language(s): English / Issue: 2/2014

Keywords: Capital; capital structure; optimal capital structure.

The aim of this article the analysis of the optimal capital structure. The issue of optimal capital structure is highly important when making decisions on new investments or restructuring of a company. If a company already has optimal structure, its new investments should be financed with the same proportion of funding sources. If a company does not have optimal structure, then new financing sources have to lead towards such structure. If the existing capital structure is unsatisfactory, re-capitalisation of a company can be required. It is assumed that an optimal capital structure exists, although usually this issue is deemed rather controversial. When choosing the capital structure, a company analyses risk-profitability ratio, and owners of the company decide what specific level of risk will be chosen. capital structure reflects the corporate strategy and policy of formation of financing sources. One or another decisions that are made regarding capital structure in the process of formation of financing sources to large extent depend on business-specific features of a company, its level of competitiveness and business development strategy.

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EVALUATION OF INTERNAL CONTROL SYSTEM OF COMPANIES IN THE CONSTRUCTION SECTOR

EVALUATION OF INTERNAL CONTROL SYSTEM OF COMPANIES IN THE CONSTRUCTION SECTOR

VIDAUS KONTROLĖS SISTEMOS BŪKLĖS STATYBOS SEKTORIAUS ĮMONĖSE VERTINIMAS

Author(s): Rasa Kanapickienė,Jovita Klemaitė / Language(s): Lithuanian / Issue: 2/2014

Keywords: Internal control system; construction; evaluation; internal control questionnaire.

Good internal control system of a company is one of the guarantees of its effective performance. Internal control is targeted to ensure the achievement of the most important aims of a company. Changing business economy conditions cause the transformation of a company’s internal control. However, the great financial scandals that occurred in the 20-21st centuries have proved that internal control of companies failed to reveal and manage essential business risks. Hence, the approach to internal control must be further improved. Internal control system of a company is highly dependent on the type of the company’s activity. Nevertheless, the research of internal control systems of companies in separate sectors is insufficient. The present paper analyses the internal control system in companies of the construction sector – the sector where the majority of entities operate and which suffered significant losses during the financial crisis. Periodical evaluation of the system is inseparable from the improvement of internal control. Therefore it is obligatory to have an instrument which would help not only to evaluate the system but identify its weaknesses and foresee directions of its improvement. The aim of the research is to create a methodology allowing the evaluation of the internal control system of a company and to apply it in the research of internal control in companies in the construction sector in Lithuania. Different methods can be chosen to evaluate internal control, yet questionnaires are the most appropriate as they help to avoid mistakes and inaccuracies and reveal concealed information. The systematic and comparative analysis of scientific literature was carried out and the use of the systematic results of expert survey was made. This allowed the authors to create the methodology of internal control evaluation: the composed questionnaire embraces the evaluation of internal control relevance and effectiveness as well as the elements of internal control: control environment, risk evaluation, control actions, information and communication, control monitoring. The majority of the questions were set to determine the state of internal control. Some open questions ask to express personal opinion by not only indicating answers yes, no, I do not know, but also giving possible reasons of problems or their solutions. They seek to reveal the view of the company’s employees on control. The methodology is dedicated to help independent and internal auditors as well as the company’s managers to practically identify the state of internal control. By means of the questionnaire, internal control might be evaluated regarding four levels: very good, good, satisfactory, weak. By using this methodology, internal control of the companies in the construction sector of Lithuania was evaluated. Having carried out the expert and questionnaire surveys and having analysed the obtained results, it was designated that construction sector companies operating in the

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SHIFTING VALUE ADDED TAX ON LABOR – THE CASE OF THE BOOK MARKET IN CENTRAL AND EASTERN EUROPEAN COUNTRIES

SHIFTING VALUE ADDED TAX ON LABOR – THE CASE OF THE BOOK MARKET IN CENTRAL AND EASTERN EUROPEAN COUNTRIES

SHIFTING VALUE ADDED TAX ON LABOR – THE CASE OF THE BOOK MARKET IN CENTRAL AND EASTERN EUROPEAN COUNTRIES

Author(s): Arkadiusz Bernal / Language(s): English / Issue: 2/2014

Keywords: Tax incidence; value added tax; book market; developing countries.

In the literature the question whether a tax burden is shifted on labor doesn’t have a clear answer. Using data which refers to book publishers in the Central and Eastern European Countries I try to answer the question whether employees bear the tax burden of the value added tax imposed on books. I test the hypothesis that the higher the value added tax rate is the lower the costs of employees are. To examine the relation between the value added tax rate and the costs of employees, a regression analysis is used. The models presented in the paper allow us to give the positive answer to the main question. The research supports other authors’ findings that labor, at least partly, bears tax, which is not imposed directly on wages.

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ADVERTISING PLACE IN THE BUYING PROCESS

ADVERTISING PLACE IN THE BUYING PROCESS

REKLAMOS VIETA PIRKIMO PROCESE

Author(s): Rūta Poželaitė / Language(s): Lithuanian / Issue: 2/2014

Keywords: Advertising; advertising tools; buying process.

In the current business environment, the ongoing economic, political, technological, social changes are opening up new markets or close available one. Changes of the business environment make it to look for new opportunities to promote the buying process by means of advertising. There are quite deep analysis of advertising tools, their effectiveness and efficiency, application of the effect on consumer behaviour in scientific literature. But there is lack of a deeper analysis on changes of buying process in consequence of new technology emergence, how advertising acts in the buying process, what kind of advertising measures could be applied in to a particular stage of the buying process. Therefore, there is problematic question – what are the points of contact of the advertising and purchase process. The aim of the research is to determine the location of the advertising tools in the buying process. Two tasks were raised to achieve the aim: to define concept of advertising and buying process; and identify the points of contact of the advertising and purchase process. The use of the research methods – analysis of the scientific literature, secondary data analysis and comparison – helped to determine consumer behaviour changes in relation to advertising during the period of economic upturn, downturn and after recession, possible point of contact of the advertising and purchase process and possible means of advertising. Article contains the concept of advertising, it’s functions, tools, purchasing process. In the article is stated that advertising is a two-way networked enterprise communication with existing customers, potential customers of company, and also with the potential customers, who is not interested in the product at the moment, involving them in the communication about the company and its products diffusion. Also it was stated that buying process had transformed from five stages (need identification/problem awareness, information gathering, evaluation of alternative solutions (products), post-purchaes evaluation of decision) to ten and after to fifteen stages process (formation of unidentified user need by the means of advertising, need identification, problem awareness, information about product, that satisfies the need, gathering, evaluation of alternative solutions (products), selection of appropriate solution (product), information about seller gathering, seller rating, seller’s choice, visit to e-shop or traditional store, search for information about the product, the choice of product, purchase of product, post-purchase product evaluation: positive or negative rating, advocacy). Nine stages of buying process have points of contact with advertising means. The results of this article can be used in further empirical studies on the impact of advertising on consumer behaviour in the purchasing process.

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THE PECULIARITIES OF FINANCIAL MANAGEMENT PRACTICES IN SMALL BUSINESSES

THE PECULIARITIES OF FINANCIAL MANAGEMENT PRACTICES IN SMALL BUSINESSES

THE PECULIARITIES OF FINANCIAL MANAGEMENT PRACTICES IN SMALL BUSINESSES

Author(s): Valda Bratka,Artūrs Prauliņš / Language(s): English / Issue: 2/2014

Keywords: Small business; financial management; capital budgeting; working capital.

The study aims to explore financial management practices in small businesses and to contrast them with techniques used by large companies. The results of this study could be of particular interest to policy-makers because they could help to raise awareness of the specific problems of effective financial management in a small business and to provide a valuable insight into differences between practices in small and large companies. Small and medium enterprises play an important role in the development of national economies both in developed and developing countries. Consequently, effective financial and business management of these companies could be considered a prerequisite of sustainable economy. In comparison with large corporations, small businesses have different financial goals and characteristics resulting in the need for different financial techniques and sources of funds. The development of small companies is specific because they are more profitable, less liquid and highly geared. In small companies the professional and educational background of the owner or manager are among the main influencing factors in selecting approaches to financial management. Poor or careless financial management is stated to be the most important cause of small business failure. It has been revealed that usually financial management practices in a small business depend on the stage of its development. Small businesses are inclined to preparing capital budgets by necessity unlike large companies which have annual budgets. Traditionally, small companies are reluctant to use newer and more sophisticated financial management techniques and practices. However, a tendency to simplify the process of analysis is also typical of large businesses. Although over the years the popularity of such methods as discounted cash flow has increased, the percentage of small businesses using them is lower compared with large companies. If a certain financial analysis technique is used, it is applied equally frequently both in small and large companies. However, carrying out cost-volume-profit analysis, contribution analysis, flexible budgeting and marginal analysis could be hindered by the difficulty experienced by small companies in separating variable and fixed costs. Small businesses are forced to use intensively short-term sources of funding which make them more susceptible to macro-economic fluctuations. Thus, efficiency of working capital management, particularly, managing accounts receivables and payables, is crucial for their survival. Few small companies adopt traditional formal approach to working capital management. Instead, they give preference to subjective working capital decision-making. The majority of small businesses concentrate just on one area of working capital management (cash, stock or debtors) and the minority do not manage any area. The maximization principle of available amounts of cash instead of its skilful short-term investment as well as poor con

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NEW ECONOMY AND THE DEVELOPMENT OF CREATIVE INDUSTRY

NEW ECONOMY AND THE DEVELOPMENT OF CREATIVE INDUSTRY

NEW ECONOMY AND THE DEVELOPMENT OF CREATIVE INDUSTRY

Author(s): Rolf Karbach,Sergej Vojtovič / Language(s): English / Issue: 2/2014

Keywords: New economy; human capital; creation of innovation; creative industry indicators of creativity.

This study is dedicated to an analysis of contents of such terms as "new economy" and "creative industry", which are already well known in the scientific and vocational communication. Furthermore it defines nature of those economic phenomena, which they mirror. Moreover common characteristics and differences between new economy and creative industry are being studied in order to determine the principles of evaluation and measuring of these economic phenomena. At the same time it is stressed that the measuring of efficiency of new economy and creative industry in the structure of other branches of economic production and their role in the GDP should be based on the creation of innovations and gained added value. Keywords: nova ekonomika, ľudský kapitál, tvorba inovácií, kreatívny priemysel, ukazovateli kreativity.

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INTERNATIONAL TECHNOLOGICAL CHANGE AND INNOVATION: CLUSTERS AND SPILLOVERS – THE GLOBALIZATION ENGINES

INTERNATIONAL TECHNOLOGICAL CHANGE AND INNOVATION: CLUSTERS AND SPILLOVERS – THE GLOBALIZATION ENGINES

INTERNATIONAL TECHNOLOGICAL CHANGE AND INNOVATION: CLUSTERS AND SPILLOVERS – THE GLOBALIZATION ENGINES

Author(s): Marcel Kordoš / Language(s): English / Issue: 2/2014

Keywords: Innovation policy; globalization processes; international economics; clusters; international business environment; competitiveness enhancement.

Innovations and innovation policies and strategies implementations are one of the most important aspects of current international economics and business development issues. It is the key not only to creating more jobs, building a greener society and improving quality of life, but also to maintaining companies’ competitiveness on the global market and states’/economies’ competitiveness enhancement within the international economics system. Issues such as innovation and technology in international business environment, technological change and innovation by means of clusters and spillovers as the globalization engines and the role of innovations in international economics and competitiveness enhancement are being analyzed and discussed in this paper

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STRATEGIC ORIENTATIONS OF NEGOTIATORS RHETORIC

STRATEGIC ORIENTATIONS OF NEGOTIATORS RHETORIC

DERYBININKO KALBOS STRATEGINĖS ORIENTACIJOS

Author(s): Kęstutis Peleckis,Valentina Peleckienė,Kęstutis Jr. Peleckis / Language(s): Lithuanian / Issue: 2/2014

Keywords: Negotiator‘s rhetoric; business negotiation; persuasion of the opponent; strategic orientation.

When strategically planning negotiating speech it is desired to avoid coincidences and to choose the most appropriate means to achieve its objective. Implementation of the strategic orientations is associated with each aspect of the language. Negotiating, in other words, it is a public speaking in the negotiations, is a strategic process, which includes an understanding of the circumstances, the deliberate behavior and a plan how to achieve your goals. During the time of negotiating the negotiators together are creating a commonly significant thing, their thoughts, opinions, attitudes and values are tested, adapted, developed through interaction. Negotiators approaches of different cultures can vary significantly. For one negotiator some things and facts may be more important or more significant than for others, and his attitude towards them will determine how he will interpret and understand the statements which he have heard. Strategies of the negotiating speech are focused on future speech, negotiating activities and are associated with the prediction of the possible negotiation, rhetorical situations. It is important to know the motives and interests of the other side of the negotiation. Negotiator with his speech encourages other side of the negotiations to start something, to change something, to complete something, affects the values, attitudes, provisions, makes an impact on decision-making. The negotiators making influence are expecting from the other side of the negotiation the corresponding and predictable reaction. In process of arguing are involved both negotiating sides - one side uses the tools of persuasion and another side - more or less replace its beliefs or firmly comply with its views

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THE EVOLUTION OF REGIONAL DISPARITIES IN THE SLOVAK REPUBLIC

THE EVOLUTION OF REGIONAL DISPARITIES IN THE SLOVAK REPUBLIC

THE EVOLUTION OF REGIONAL DISPARITIES IN THE SLOVAK REPUBLIC

Author(s): Katarína Havierniková,Boris Jansky / Language(s): English / Issue: 2/2014

Keywords: Region; regional disparities; inidcators.

For the evaluation of regional development are commonly used the social, economic, ecological and demographic indicators. The aim of this paper is to assess the development of regional disparities between Slovak regions in the context of selected socio-economic indicators: the unemployment rate (%), regional GDP in PPS (at current prices, EUR), average nominal monthly wage (EUR), the number of trading partnerships per 1000 economically active population, density of highways and motorways and the expenditures on research and development (EUR). For assessing the regional disparities in the contribution we use the calculation of Coeffitient of Variation and Gini coefficient. Observed preiod are years 2001 – 2013, depending on the data availability in regional databasis of Statistical office of the Slovak republic. For some indicators the observed period is until 2011 or 2012. The part of the analysis is the creation of correlation matrix between observed indicators and statistical significance of correlations is confirmed through the values of p-value. Based on the three types of regional typology, the output of the analysis is the ordering of the Slovak regions into the various cathegories.

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OFFSHORE WIND ENERGY SOCIAL COMPATIBILITY TOOL

OFFSHORE WIND ENERGY SOCIAL COMPATIBILITY TOOL

JŪROS VĖJO ENERGETIKOS SOCIALINIO SUDERINAMUMO ĮRANKIS

Author(s): Stasys Paulauskas,Aleksandras Paulauskas / Language(s): English / Issue: 2/2014

Keywords: Offshore wind energy; social compatibility; sustainable innovation; energy trends; sustainable energy; responsible energy; virtual modelling.

In the article the problem of offshore wind energy social compatibility is analysing trough comparative expert poll in 2008 and 2013 years as part of South Baltic programme project SB-OFF.E.R. tasks. This gave possibility to define OWE innovation trends and work out special OWE social compatibility tool, which could be used in other coastal areas and OWE projects. The correlation between overall development level and acceptance of offshore wind energy countries was defined. During 5 years many attitudes of coastal living people were changed from negative to positive. This could be explained as result of increasing of knowledge related to positive and negative sides not only OWE, but all maritime activities. Recommendations on use of worked out tool and conclusions of the research gives significant knowledge for sustainable introduction of OWE in different coastal areas.

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