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Education is important factor human resources determining. Human capital investments enforce individual’s perspectives and profits and constitute com-munity benefits at present. In common, studies from macroeconomic research area have a result in conclusions, that productivity is determined by education and that education development and growth are continual. In most OECD coun-tries public funding of studies has been always the traditional possibility applied in the post obligatory education. Benefits, which go by from education enlargement, must be evaluated on the social rate of effectiveness base with taking into account social costs and benefits resulted from education investment, and thus can be very different from private costs and benefits level.
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Presented Article „Theoretical Aspects of Grubel–Lloyd Index and its Appli-cation within SR“ aims at specifying the intensity of IIT of SR towards Czech Republic and Germany respectively. Theoretical part highlights different views as to the matter of the IIT substance and its evolution. A complex look into the theoretical matter is further finalised presenting Aquino’s index measuring IIT with the view of theoretical importing and exporting. A practical part of this article copes with measures of IIT of SR obtained by GL index based upon the commodity classification of the 1 – digit „SITC rev. 3
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One part of the strategical goal set on the Lisbon summit is also the increase of employment, namely by the way of creation of new jobs. It is possible to reach this goal first of all by supporting entrepreneurship, by the support of technologies and innovations and by improving the quality of human capital. In the global econo-my the problem of employment has gained new dimensions that are expressed first of all in the operations of transnational corporations in the area of labour market and in their efforts to reduce the labour costs. The next result of this trend is the decrease of working time and the increase of part time jobs. These trends of globalization reflect themselves also in the area of employment in the Slovak Republic. The priority of the employment policy is becoming also the crea-tion of new jobs, education and preparing of labour force for the labour market.
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In the article we identify factors that pose challenges for domestic financial sta-bility in the long run, that is, after the euro adoption. These factors comprise: persistent large capital inflows, better availability of credit, speculative expecta-tions and lost of the national monetary policy as tool of macro management. To mitigate the potential negative effect of these factors on domestic financial sta-bility we present recommendations for measures of institutional and policy na-ture. In the short and medium-size period we do not see any immediate threats to domestic financial stability.
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Mystery shopping is a tool often used for evaluation of providing services quality. It is also a tool, which enables to examine and evaluate communication skills of employees in order to identify their weakness and define the way of improvement. The reason is that their applied abilities are connected with customer´s total perception of providing services. National post operators must learn to listen to their customers through their employees. This process is crucial for the market environment – it enables to gain customer´s loyalty and trust. In order to ensure higher level of customer oriented behaviour between the employees, Slovak Post starts a pilot project called “Mystery Customer”. Main goal of the project is to analyze behavior of selected post office personnel towards the mystery customer. The paper also deals with the practical use of mystery shopping in conditions of Slovak Post.
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The article is based on literature review, theoretical insights and deals with the topic of perceived franchise value. The objective of the paper is – what elements form the franchisee‘s perceived value in service business (comparing with alternative of own business model). The aim of the paper is to propose systematic value elements in the process of forming a value of a franchise business model perceived by the franchisee. In terms of practical meaning, this article should be relevant to entrepreneurs, company owners, and future entrepreneurs planning to set up their own business, but lacking the managerial experience. The scientific value of the paper is theoretical insights analyzing franchise, which has not been thoroughly analyzed in the Lithuanian academic society, and the formation of a perceived franchise value, which has not been analyzed at all. This is the second of three authors’ articles of franchise series.
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The financial crisis of 2008–2009 caused lots of discussions between Academia and as a result researches on financial crisis and bubble prediction possibilities appeared. Academia shows its growing interest in the issue during the last decade. The majority of researches made are based on different forms of forecast used. Some of previous studies claim that the trend of the stock market can be forecasted using moving average method. After the finance market crashed, a need to forecast further possible bubbles arises. As the economics of the Baltic States is very sensitive to such bubbles it is very important to forecast preliminary the trends of the finance markets ant to plan the right actions in order to temper such bubble influence on the national economics. Although economic theory is opposite to the technical analysis theory which is the main tool for traders in stock markets it is used widely. This paper examines whether a proper technical analysis rule such as Exponential Moving Average (EMA) has a predictive power on stock markets in the Baltic States. The method is applied to OMX Baltic Benchmark Index and industrial indexes as they are more or less sensitive to the main index fluctuations. The results were compared using systematic error (mean square error, the mean absolute deviation, mean forecast error, the mean absolute percentage error) and tracking signal evaluation, CAPM method and appropriate period of EMA finding for each market forecast. A graphical analysis was used in order to determine whether EMA can forecast the main trends of the stock market fluctuations. The conclusions made during the research suggest new research issues and new hypotheses for its further testing.
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This paper gives a basic overview of the various attempts at modelling stochastic processes for stock markets with a specific application to the Portuguese stock market data. Long-memory dependence in the stock prices would completely alter the data generation process and econometric models not considering the long-range dependence would exhibit poor forecasting abilities. The Hurst exponent is used to identify the presence of long-memory or fractal behaviour of the data generation process for the daily returns to ascertain if the process follows a fractional brownian motion. Detrended fluctuation analysis (DFA) using linear and quadratic trends and the Geweke Porter-Hudak methods are applied to detect the presence of long-memory or persistence. We find that the daily returns exhibit a small amount of long memory and that the quadratic trend used in the DFA overestimates the value of the Hurst exponent. These findings are corroborated by the use of the Geweke Porter-Hudak method wherein the Hurst exponent is close to the DFA using the linear trend.
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Green issues in industrial and supply chain business processes have been receiving exponentially growing attention over the past decade. Consumers are demanding green products and services more and more, and on the other side of the marketplace, businesses and industries are now much more responsive to green issues. Furthermore, businesses and industrial systems are, in present conditions, positively reacting to green issues. From an academic perspective, there are considerable numbers of research on this topic in various disciplines. Thus, for the green strategies with respect to the sustainable development, this paper delves into the literature of the significance of sustainability concept with an emphasis on the ecological dimension and then brings a range of essential perspectives along with the applied framework of environmental reporting of industrial and supply chain business processes.
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The aim of this article is to evaluate impact of FDI on sustainable development indicators of differently developed countries during two periods of time: a time span before (2000−2007) and a time span embracing the global economic crisis period (2000–2009). Reviewed ample supply of relevant scientific literature made a presumption to arise that the impact of FDI differs in developed, developing and underdeveloped countries, i.e. depends on the level of development: developed countries benefit most, developing less and underdeveloped least. Countries are attributed to respective groups according to their level of development and indicators are chosen for investigation. The following indicators capable of reflecting FDI impact on enhancing wellbeing in unevenly developed countries are: GDP, exports, inflation, population, life expectancy at birth, primary school pupils, infant mortality, total health expenditure per capita, total tax rate, internet users, residential consumption of electricity , and differences between developed and underdeveloped countries in the field of economic, social, business environment are taken into account. Several other hypotheses have been formulated and FDI impact on sustainable development indicators has been estimated with the help of empirical research in order to test the initial presumption. Obtained results enabled to compare peculiarities of FDI performance during two periods of time.
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The authors examine the impact of corporate philanthropic activities on their economic performance. Corporate philanthropy is defined as a component of corporate social responsibility which opens new opportunities for business relationship with stakeholders and is contributing to promotion of corporate social involvement and to diffusion of the social responsibility principles implementation. With an emphasis on the positive impact of philanthropic activities on corporate economic performance, the benefits of corporate philanthropic activities to future revenue growth, characterized by improvement in corporate image, reputation development, business growth and customer loyalty are considered, as well as other economic benefits such as improved recruitment, the growth of innovation, value of share growth, sales growth, the increase in employee morale and productivity, the rise of customer curiosity to know companies which carry out philanthropic actions. This paper reviews the corporate philanthropic activities in Lithuania in recent years and focuses on the relationship between philanthropic activities of corporation “TEO LT” and its financial performance improvements. Having examined the issue of the impact of corporate philanthropic activities on its economic performance, the authors found that corporate philanthropic activities have a positive impact not only on corporate financial indicators related to future revenue growth, but also on other economic indicators, as well as on the relationship with all stakeholders.
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The article examines the problem of determining asset allocation to sustainable retirement portfolio. The article attempts to apply heuristic method – 100 minus age in stocks rule – to determine asset allocation to sustainable retirement portfolio. Using dynamic stochastic simulation and stochastic optimization techniques the optimization of heuristic method rule is presented and the optimal alternative to „100“ is found. Seeking to reflect the stochastic nature of stock and bond returns and the human lifespan, the dynamic stochastic simulation models incorporate both the stochastic returns and the probability of living another year based on Lithuania‘s population mortality tables. The article presents the new method – adjusted heuristic method – to be used to determine asset allocation to retirement portfolio and highlights its advantages.
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Važnost ljudskih prava na Balkanu i šire u jugoistočnoj Evropi leži u njihovom potencijalu da osiguraju polazište za društvo koje se temelji na pravima, a ne na sili. Ona bi trebalo da utiču na to da se pojedinci i društvo oslobode od ograničenja koja nose iz prošlosti, te da osiguraju temelje za reforme koje će dovesti do bolje budućnosti. Nova pravila koja su nakon završetka rata u Bosni i Hercegovini uspostavljena ustavima i zakonima u nastojanju da se ispune međunarodne obaveze koje su proistekle ratifikacijom mnogih međunarodnih konvencija za zaštitu ljudskih prava – nisu dosljedno primijenjena, posebno kad je u pitanju Ustav Bosne i Hercegovine. Rezultat uticaja politike i političkih odnosa unutar Bosne i Hercegovine koji su postojali u momentu zaključenja Dejtonskog sporazuma, a zadržani su uglavnom i do danas, bio je uspostavljanje i kolektivnih političkih prava Bošnjaka, Srba i Hrvata kao konstitutivnih naroda nasuprot zaštiti individualnih ljudskih prava u Ustavu Bosne i Hercegovine promoviranih obavezujućom međunarodnom, tačnije Evropskom konvencijom o zaštiti ljudskih prava.
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U svom je pismu iz 1558. godine vojvoda Sinan, tajnik kliškog sandžak-bega Ferhata Sokolovića, podsjetio zapovjednika mletačke mornarice Fabia Canala da se s njime sreo prošle godine na venecijanskom mostu Ponte della paglia, onom istom na Skjavonskoj rivi na koji su brodovi dovozili slamu, a gradski magistrati identificirali utopljenike po gradskim kanalima. Sinan mu je pisao da je sada u Livnu i da svome gospodaru čita pisma i vježba ga u lijepom i dobrom izražavanju. Nadodao je da je sandžak-begu veoma drago prijateljstvo i ljubav koju mu Canal iskazuje i da ga je spreman preporučiti u Carigrad kao zaslužnog za mirne tursko-venecijanske odnose u Dalmaciji. Preporučio se Canalu i nadodao sa svoje strane ako mu je mila neka stvar iz Livna: konj, lovački pas, ili ma što drugo, neka mu zapovjedi te će njegovu želju rado izvršiti.
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Značaj knjige odnosno zbirke bosanskih ćiriličnih pisama je višestruk, a kao dva ključna pozitivna učinka mogu se prepoznati sljedeći: 1. afirmacija bosanske pisane tradicije u ćiriličnom pismu među domaćom populacijom i akademskom zajednicom, i 2. reafirmacija bosanstva kao složene, slojevite, ali neupitno zasebne kulturološke, društvene i političke pojave u perspektivi pripadnika društvenih zajednica engleskog govornog područja, kao i u širim međunarodnim okvirima. Fokus u ovom tekstu je na drugoj prepoznatoj posljedici – reafirmaciji bosanstva izvan granica bosanskog teritorija, u međunarodnim okvirima. Značajan doprinos u ovom smislu je ostvaren i prijevodima knjiga domaćih autora čija je tema upravo Bosna, bosanski društvenopolitički i kulturni identitet, poput, prije svih, knjiga Rusmira Mahmutćehajića te još tek nekolicine prevođenih autora.
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Najljubaznije vam zahvaljujem, dragi Rusmire, na pozivu da posjetimo vašu domovinu! Već godinama se srećemo u Institutu Shalom Hartman u Jerusalemu, a prošlog februara ste mi postavili blagi izazov: “Vi biste trebali doći i govoriti nam o toj ‘kršćanskoj Evropi’ koju su zagovarali dvojica zadnjih papa!” Ja nisam stručnjak, a sasvim sigurno nisam ni vatikanski službenik, tako da ću vam ovdje izložiti samo jedno od mogućih viđenja te teme. Rođen sam u jakoj francuskoj katoličkoj porodici, posvećenoj “krstu i kruni” (koja je u svakoj generaciji najmanje još od Francuske revolucije davala pripadnike klera i vojne oficire). Sjećam se kako smo bili šokirani kada je bivši francuski predsjednik spriječio da se u evropski ustav uvrsti i referenca o kršćanskim korijenima Evrope, uprkos žarkoj želji Ivana Pavla II, a uz podršku još nekoliko zemalja… Bili smo posramljeni što se od svih nacija upravo naša, koju su nekoć nazivali “najstarijom kćerkom Crkve”, tako odlučno bori protiv toga. Je li to naprosto bila konfesionalna samoodbrana?
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U svakoj antologiji, pa tako i ovoj, autor izdvaja i odabire sadržaje koji bi, prema unaprijed određenim kriterijima, služili ocrtavanju znatno šire pojave, ali tako da na osnovi uvida u dio bude prikazana cjelina. Da bi antologija bila napravljena, njen sastavljač mora imati uvid u cjelinu, čime on taj uvid svjedoči čitatelju. Tako su umijeća velikih majstora činjena dostupnim i onima kojima su znanja o pojavama potrebna, pri čemu sami ne mogu ili ne moraju biti osposobljeni za majstorsko prolaženje kroz sve pojedinosti cjeline. U antologiji Lejle Nakaš Bosanska ćirilična pisma izdvajanja i raspored sadržaja koji su nastali u više stoljeća provedeni su radi prikaza muslimanskog udjela u složenoj cjelini pisama koja su sačuvana kao dokazi odnosa među ljudima slavenskog juga u dugome trajanju.
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Predmet našeg današnjeg razgovora je izdanje Međunarodnog foruma Bosna – Bosanska ćirilična pisma. Izabrala ih je i uredila dr. Lejla Nakaš, docentica na Odsjeku za bosanski, hrvatski i srpski jezik Filozofskog fakulteta Univerziteta u Sarajevu, gdje predaje staroslavenski jezik i historiju literarnog jezika. Njezini najznačajniji radovi su u oblasti bosanske paleografije srednjovjekovnog i osmanskog razdoblja.
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