Search results for: central and East European countries (CEEC)

Authors: Hitalo Silva

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The most famous corruption scandals in the past four years were taken in Latin America, especially in Brazil, but besides the stain that these countries suffered in an international field, there was a huge effort to create or modernize its national anti-corruption laws. Also, the countries are implementing new standards for investigations and corporate compliance programs, in order to combat corruption and prevent the money laundering. But here is the following question: is here an invisible uniformization/transnationalization of the anti-corruption systems in Latin America? This new scenario reflects the impacts of the corruption investigations conducted in Latin America countries, such as Car Wash Operation in Brazil, Pretelt Case in Colombia, Gasoducto Sur Peruano case and the Mr. Alex Kouri’s case both in Peru. Legal and institutional pro-transparency reforms were made recently, the companies are trying to implement new standards of conduct and investing in their compliance department. In this sense, there is a huge homogeneity in Latin America concerning the structuring of corporate compliance programs, a truly transnationalization not only of laws but also corporate standards among these countries. Although legislative initiatives vary among the countries, there is a tendency to impose rigid liability standards for the companies being investigated for corruption, not only the personal punishments of their executives, which demonstrate the power of authorities to strength the investigative tools. Also, instruments such as leniency agreements and plea bargain are essential to put a central role in enforcement activities in Latin America. In other words, in a region where six former Presidents were convicted for acts of corruption, and, companies such as Odebrecht that is accused of offering bribes to politicians from Argentina to México, passing through Ecuador, Colombia, Guatemala and Panama, this demonstrates the necessity to increase strength of their legal framework in a sense that unify transnational goals. All things considered, this paper will show how anti-corruption regulators are cooperating in Latin America jurisdictions in order to unify their laws and how the private sector is dealing with this new scenario of corporate culture change.

Keywords: compliance, corruption, investigations, Latin America, transnational

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Authors: Andreas Gohs, Reinhold Kosfeld

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This study should be of interest for practitioners who want to predict precisely the sales numbers of vehicles equipped with an innovative propulsion technology as well as for researchers interested in applied (regional) time series analysis. The study is based on the numbers of new registrations of pure electric and hybrid cars. Methods of time series analysis like ARIMA are compared with the Bass Diffusion-model concerning their forecasting performances for new registrations in Germany at the national and federal state levels. Especially it is investigated if the additional information content from regional data increases the forecasting accuracy for the national level by adding predictions for the federal states. Results of parameters of the Bass Diffusion Model estimated for Germany and its sixteen federal states are reported. While the focus of this research is on the German market, estimation results are also provided for selected European and other countries. Concerning Bass-parameters and forecasting performances, we get very different results for Germany's federal states and the member states of the European Union. This corresponds to differences across the EU-member states in the adoption process of this innovative technology. Concerning the German market, the adoption is rather proceeded in southern Germany and stays behind in Eastern Germany except for Berlin.

Keywords: bass diffusion model, electric vehicles, forecasting performance, market diffusion

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Authors: Barbora Herdová, Rastislav Lagaňa

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The paper investigates the mechanical properties of European aspen (Populus tremula L.) as a potential replacement for load-bearing elements in historical structures. One of the main aims of the research has been the quantification of mechanical properties via destructive testing and the subsequent calculation of characteristic values of these properties. The research encompasses experimental testing of wood specimens for the determination of dynamic modulus of elasticity (MOEdyn), modulus of elasticity (MOE), modulus of rupture (MOR), and density. The results were analyzed and compared to established standards for structural timber. The results confirmed statistically significant dependence between MOR and MOEdyn. The correlation between the MOR and the dynamic MOEdyn enabled non-destructive strength grading using the Sylvatest Duo® system. The findings of this research contribute to the potential use of European aspen as a structural timber, which could have implications for the sustainable use of this abundant and renewable resource in the construction industry. They also show the usability of European aspen in the reconstruction of historical buildings.

Keywords: populus tremula, MOE, MOR, sylvatest Duo®.

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Authors: Alice Civera, Mattia Cattaneo, Michele Meoli, Stefano Paleari

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Despite the fact that more equal access to higher education has been an objective public policy for several decades, little is known about the effectiveness of alternative means for achieving such goal. Indeed, nowadays, high level of graduate population can be observed both in countries with the high and low level of fees, or high and low level of public expenditure in higher education. This paper surveys the extant literature providing some background on the economic concepts of the higher education market, and reviews key determinants of demand and supply. A theoretical model of aggregate demand and supply of higher education is derived, with the aim to facilitate the understanding of the challenges in today’s higher education systems, as well as the opportunities for development. The model is validated on some exemplary case studies describing the different relationship between the level of public investment and levels of graduate population and helps to derive general implications. In addition, using a two-stage least squares model, we build a macroeconomic model of supply and demand for European higher education. The model allows interpreting policies shifting either the supply or the demand for higher education, and allows taking into consideration contextual conditions with the aim of comparing divergent policies under a common framework. Results show that the same policy objective (i.e., increasing graduate population) can be obtained by shifting either the demand function (i.e., by strengthening student aid) or the supply function (i.e., by directly supporting higher education institutions). Under this theoretical perspective, the level of tuition fees is irrelevant, and empirically we can observe high levels of graduate population in both countries with high (i.e., the UK) or low (i.e., Germany) levels of tuition fees. In practice, this model provides a conceptual framework to help better understanding what are the external conditions that need to be considered, when planning a policy for increasing graduate population. Extrapolating a policy from results in different countries, under this perspective, is a poor solution when contingent factors are not addressed. The second implication of this conceptual framework is that policies addressing the supply or the demand function needs to address different contingencies. In other words, a government aiming at increasing graduate population needs to implement complementary policies, designing them according to the side of the market that is interested. For example, a ‘supply-driven’ intervention, through the direct financial support of higher education institutions, needs to address the issue of institutions’ moral hazard, by creating incentives to supply higher education services in efficient conditions. By contrast, a ‘demand-driven’ policy, providing student aids, need to tackle the students’ moral hazard, by creating an incentive to responsible behavior.

Keywords: graduates, higher education, higher education policies, tuition fees

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Authors: Emiljan Karma

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One of the major problems of the present is young people who are not concerned with employment, education, or training (NEETs). Unfortunately, this group of people in Albania is a considerable part of working-age people, and despite the measures taken, they remain a major problem. NEETs in Albania are very heterogeneous. This is since youth unemployment and inactivity rate are at a very high level (Albania has the highest NEET rate among EU candidates/potential candidates’ countries and EU countries); the high level of NEET rate in Albania means that government agencies responsible for labour market regulation and other social actors interested in the phenomenon (representatives of employees, representatives of employers, non-governmental organizations, etc.) did not effectively materialize the policies in the field of youth employment promotion. The National Agency for Employment and Skills (NAES) delivers measures specifically designed to target unemployed youth, being the key stakeholder in the implementation of employment policies and skills development in Albania. In the context of identifying and assisting NEETs, this role becomes even stronger. The experience of different EU countries (e.g., Youth Guarantee) indicates that there are different policy-making structures and various outreach mechanisms for constraining the youth NEET phenomenon. The purpose of this research is to highlight: (1) The identification of NEETs feature in Albania; (2) The identification of tailored and efficient outreach mechanisms to assist vulnerable NEETs; (3) The fundamental importance of stakeholders’ partnership at central and regional level.

Keywords: labor market, NEETs, non-registered NEETs, unemployment

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Authors: Yakubu Abdulai, Kenichi Matsui

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The agricultural industry has faced a variety of challenges in meeting the expanding income demand of the rural population. As a result, rural households must diversify their income sources to meet their income demand. Although income diversification strategies help rural households, it contributes to total household income, and the socio-demographic determinants are not known in the Upper East Region of Ghana. For these reasons, the purpose of this study was to determine the contribution of income diversification strategies to household income and the socio-demographic factors influencing it. We conducted a questionnaire survey among 360 rural households in the Upper East Region of Ghana. We asked about their socio-demographic information, their choice of income diversification strategies, and their remittances through rural-city migration. The questionnaire survey findings demonstrate that the main livelihood income source contributes 22%, and on-farm income diversification contributes the most to household total income (47%), followed by non-farm diversification income (16%) and off-farm diversification income (15%). Calculations from the income diversity index showed that the average income diversification strategy was 0.5 out of 1. The calculation of the income dependence index also showed that the average dependent on a particular source of income was 0.2 out of 1. All the respondents said household members temporarily migrate to contribute to household income through remittances. The results further reveal that their choice of income diversification is influenced by their age, educational background, experience, and farm size. The paper recommends the promotion of rural development policies that increase income-generating activities and educate rural households on how to increase returns from their investment.

Keywords: income diversification, poverty alleviation, rural households, upper east region

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Authors: Algia Hammami, Abdelfatteh Bouri

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In this work, our objective is to study the transmission of volatility between oil and stock markets in developed (USA, Germany, Italy, France and Japan) and emerging countries (Tunisia, Thailand, Brazil, Argentina, and Jordan) for the period 1998-2015. Our methodology consists of analyzing the monthly data by the GARCH-BEKK model to capture the effect in terms of volatility in the variation of the oil price on the different stock market. The empirical results in the emerging countries indicate that the relationships are unidirectional from the stock market to the oil market. For the developed countries, we find that the transmission of volatility is unidirectional from the oil market to stock market. For the USA and Italy, we find no transmission between the two markets. The transmission is bi-directional only in Thailand. Following our estimates, we also noticed that the emerging countries influence almost the same extent as the developed countries, while at the transmission of volatility there a bid difference. The GARCH-BEKK model is more effective than the others versions to minimize the risk of an oil-stock portfolio.

Keywords: GARCH, oil prices, stock market, volatility transmission

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Authors: Etibar Guliyev

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The breakdown of the Soviet Union in 1991 has led to a considerable rise in the religious self-consciousness of Muslim population of the Central Asia. Additionally, huge amount of money spent by various states further facilitated the spread of religious ideas. According to some sources, Saudi Arabia spent 87 billion dollars to propagate Wahhabism abroad during two decades, whereas the Communist Party of the Soviet Union spent just over 7 billion dollars to spread its ideology worldwide between 1921 and 1991. As the result, today once a remote area from international politics has turned into third major source of recruitment of fighters for global terrorist organizations. In order to illustrate to scope of the involvement of the Central Asian residents in international terrorist networks it is enough to mention the name of Colonel Gulmorod Khalimov, the former head of the Tajik special police forces who served as ISIS war minister between 2016 and 2017. The importance of the topic stems from the fact that the above-mentioned republics with a territory of 4 million square km and the population of around 80 million people borders Russia, Iran Afghanistan and China. Moreover, the fact that political and military activities motivated with religious feelings in those countries have implications not only for domestic but also for regional and global political relations and all of them has root in politics of religions adds value to the research. This research aims to provide an in-depth analyses of the marked features of the state policies to regulate religious activities and approach this question both from individual, domestic, regional and global levels of analyses. The research will enable us to better understand what implications have the state of religious freedom in post-Soviet Muslim republics for international relations and the rise of global jihadi terrorism. The paper tries to find a linkage between the mentioned terror attacks and underground rise of religious extremism in Central Asia. This research is based on multiple research methods, mainly on qualitative one. The process tracing method is also employed to review religious policies implemented from 1918-1991 and after the collapse of the Soviet Union in a chronological way. In terms of the quantitative method, it chiefly will be used in a bid to process various statistics disseminated in academic and official sources. The research mostly explored constructivist, securitization and social movement theories. Findings of the research suggests that the endemic problems peculiar to authoritarian regimes of Central Asia such as crackdown on the expression of religious believe and any kind of opposition, economic decline, instrumental use of religion and corruption and tribalism further accelerated the recruitment problem. Paper also concludes that the Central Asian states in some cases misused counter-terrorism campaign as a pretext to further restrict freedom of faith in their respective countries.

Keywords: identity, political Islam, religious extremism, security, terrorism

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Authors: Ashna Sinha, Surendra Varma

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The Asian elephant is predominantly found in South Asian and Southeast Asian countries. They are intrinsically associated with the religions, religious and cultural practices and festivals of these regions. Amazingly, these magnificent animals are also mentioned in the texts and are found sculpted on the walls of places of religious significance even in the Middle Eastern countries, and evidently, they have been mentioned in all the major religions. The elephants are intrigued and associated with the cultural and religious practices of Asians for thousands of years. While some of the practices and festivals in certain geographical regions are going on for years; some regions and religions have gone through a cultural shift and cultural adaptation, and have incorporated the participation of these divine beings. The symbolism of elephants is used for preaching and giving philosophical lessons through stories and painted art, across different religions through varying literary and visual artworks. The animals carved on the ancient and present day temples can easily be found in South and South East Asian countries, signifying the importance of the animal in a given religion which the temples are associated with. Though not sculpted but captive elephants are easily found on the premises of the places of worship to give a blessing to the people or to give a tour to show their own connotation with the religion. They are also used for carrying out processions in varying religious and cultural activities, and are considered to be of immense value as they add an extra glamour and publicize the wealth and weightiness of that distinct religion or culture. Our critical review of elephant’s association with religions and their practices show, although they give a higher degree of value and respects to this animal, the practices do not match with their biological design, but profoundly compromise their welfare and conservation. It is time to follow the values the animal enjoy and use the same for their conservation and welfare.

Keywords: conservation, elephant, religion, welfare

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Authors: Daniele Lerede, Gianvito Colucci, Matteo Nicoli, Laura Savoldi

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The European Green Deal is the first internationally agreed set of measures to contrast climate change and environmental degradation. Besides the main target of reducing emissions by at least 55% by 2030, it sets the target of accompanying European countries through an energy transition to make the European Union into a modern, resource-efficient, and competitive net-zero emissions economy by 2050, decoupling growth from the use of resources and ensuring a fair adaptation of all social categories to the transformation process. While the general purpose to allow the realization of the purposes of the Green Deal already dates back to 2019, strategies and policies keep being developed coping with recent circumstances and achievements. However, general long-term measures like the Circular Economy Action Plan, the proposals to shift from fossil natural gas to renewable and low-carbon gases, in particular biomethane and hydrogen, and to end the sale of gasoline and diesel cars by 2035, will all have significant effects on energy supply and demand evolution across the next decades. The interactions between energy supply and demand over long-term time frames are usually assessed via energy system models to derive useful insights for policymaking and to address technological choices and research and development. TEMOA-Europe is a newly developed energy system optimization model instance based on the minimization of the total cost of the system under analysis, adopting a technologically integrated, detailed, and explicit formulation and considering the evolution of the system in partial equilibrium in competitive markets with perfect foresight. TEMOA-Europe is developed on the TEMOA platform, an open-source modeling framework totally implemented in Python, therefore ensuring third-party verification even on large and complex models. TEMOA-Europe is based on a single-region representation of the European Union and EFTA countries on a time scale between 2005 and 2100, relying on a set of assumptions for socio-economic developments based on projections by the International Energy Outlook and a large technological dataset including 7 sectors: the upstream and power sectors for the production of all energy commodities and the end-use sectors, including industry, transport, residential, commercial and agriculture. TEMOA-Europe also includes an updated hydrogen module considering its production, storage, transportation, and utilization. Besides, it can rely on a wide set of innovative technologies, ranging from nuclear fusion and electricity plants equipped with CCS in the power sector to electrolysis-based steel production processes and steel in the industrial sector – with a techno-economic characterization based on public literature – to produce insightful energy scenarios and especially to cope with the very long analyzed time scale. The aim of this work is to examine in detail the scheme of measures and policies for the realization of the purposes of the Green Deal and to transform them into a set of constraints and new socio-economic development pathways. Based on them, TEMOA-Europe will be used to produce and comparatively analyze scenarios to assess the consequences of Green Deal-related measures on the future evolution of the energy mix over the whole energy system in an economic optimization environment.

Keywords: European Green Deal, energy system optimization modeling, scenario analysis, TEMOA-Europe

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Authors: S. Jahani, V. Choopankareh

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Many people lost their life caused by environmental pollution every year. The negative effects of environmental crises appear to be much higher in Asian countries. The most important environmental issue in the developing countries and especially in Tehran, to our best knowledge, is air pollution that has affected many aspects of life in society. Environmental topics related to technology’s development have been salient issues among the main concerns of designers. Green facades are the most considerable solutions which designers and architectures are focused on, all over the world. But there are lots of behavioral and psychological problems about this point. In this line, this excavation has tried to reveal the cultural and psychological influences of green façade in developing countries like Tehran. Green façades in developing countries are so useless, although they are so expensive. As a matter of fact, users consider green facade as a decorative item. This research is an attempt to recognize the reasons which show green façades as worthless element. Also, some solutions are presented to promote green façades in the developing countries as an intrinsic solution. There are so many environmental threats, especially about air pollution, for a city as Tehran, which might be solved by green facades.

Keywords: air pollution, developing countries, effects, green facades

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Authors: Sanghyun Park

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Influenced by the ideas of collectivism, East Asian contemporary dance is marked by an emphasis on unity and synchronization. A growing element of this discipline that disrupts the path that strives to attain perfection, requiring coordination between multiple parties in order to produce work of their highest artistic potential, with the support from individuals or groups is the presence of disabled dancers. Kawanaka Yo, a Japanese dancer with a mental disability, argues through her '“Dance of Peace' that a dancer should focus on her impulses and natural thoughts through improvisational dancing and eschewal of documentation. Professor and poet Jung-Gyu Jeong, co-founder of the Korea Disability International Art Company, demonstrates with his company’s modernized performances of popular works and musicals that disabled artists do not need perfection so long as they can assert their finesse to mimic or create an equivalence with able-bodied dancers. Yo has studied various forms of modern dance and ballet in Japan and has used her training to ease her mental disability but also accept her handicap as an extension of her identity, representing a trend in disabled dance that favors individuality and acceptance. In contrast, Jeong is an influential figure in South Korea for disabled dancers and artists, believing that disabled artists must overcome a certain threshold in order to reach a status as an artist that is equivalent to a 'normal artist.' East Asian art created by the disabled should not be judged according to different criteria or rubrics compared to able-bodied artists because, as Yo explains, a person’s identity and her handicaps characterize the meaning of, and the value of, the piece.

Keywords: disability studies, modern dance, East Asia, politics of identity

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Authors: Andrey Makarov

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This article will focus on the development of antitrust policy in transition economies in the context of preventing explicit and tacit collusion. Experience of BRICS, CIS (Ukraine, Kazakhstan) and CEE countries (Bulgaria, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia, Slovenia, Czech Republic, Estonia) in the creation of antitrust institutions was analyzed, including both legislation and enforcement practice. Most of these countries in the early 90th were forced to develop completely new legislation in the field of protection of competition and it is important to compare different ways of building antitrust institutions and policy results. The article proposes a special approach to evaluation of preventing collusion mechanisms. This approach takes into account such enforcement problems as: classification problems (tacit vs explicit collusion, vertical vs horizontal agreements), flexibility of prohibitions (the balance between “per se” vs “rule of reason” approaches de jure and in practice), design of sanctions, private enforcement challenge, leniency program mechanisms, the role of antitrust authorities etc. The analysis is conducted using both official data, published by competition authorities, and expert assessments. The paper will show how the integration process within the EU predetermined some aspects of the development of antitrust policy in CEE countries, including the trend of the use of "rule of reason" approach. Simultaneously was analyzed the experience of CEE countries in special mechanisms of government intervention. CIS countries in the development of antitrust policy followed more or less original ways, without such a great impact from the European Union, more attention will be given to Russian experience in this field, including the analysis of judicial decisions in antitrust cases. Main problems and challenges for transition economies in this field will be shown, including: Legal uncertainty problem; Problem of rigidity of prohibitions; Enforcement priorities of the regulator; Interaction of administrative and criminal law, limited effectiveness of criminal sanctions in the antitrust field; The effectiveness of leniency program design; Private enforcement challenge.

Keywords: collusion, antitrust policy, leniency program, transition economies, Russia, CEE

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Authors: E. G. Popkova, I. A. Morozova, T. N. Litvinova

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As a result, numerous studies of economic systems the authors have identified and substantiated the existence of a“underdevelopment whirlpool” is a phenomenon of considerable differentiation level of economic development in developed and developing countries. This article reflects the relationship “underdevelopment whirlpools” marketing areas as a tool to overcome them. The article presents the author's recommendations for dealing with “underdevelopment whirlpools”. Based on the experience of successful developing countries showing strong economic growth, the author analyzes possible future direction of overcoming the “underdevelopment whirlpools”. The author details the aspect of increasing product through the positioning of the territory as a way out of the “underdevelopment whirlpools”.

Keywords: underdevelopment whirlpool, developed countries, developing countries, disparities of economic growth, marketing territories

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Authors: Prisecaru Diana-Sorina

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The paper will show that, while the EU legislator tackled a series of UX patterns used in e-commerce to induce the consumers take actions that they would not normally undertake, it leaves out many other aspects related to misuse or poor UX design that adversely affect EU consumers. Further, the paper proposes a reevaluation of the regulatory addressability of the issue and hand and focuses on explaining why a joint strategy, based on the interplay between provisions aiming consumer protection and personal data protection is the key approach to this matter.

Keywords: algorithms, consumer protection, European Union, user experience design

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Authors: Rajkishore Nayak, Tarun Panwar, Majo George

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The study focuses on investigating the factors that influence the growth of fashion and textile manufacturing in the Sub-Saharan Africa (SSA) countries. This paper endeavours to identify, analyse and evaluate the critical factors associated with the growth of fashion and textile manufacturing in SSA countries. This research has done a Strength, Weakness, Opportunity, and Threat (SWOT) analysis based on the available literature and the knowledge of authors in garment manufacturing and export. It was found that the SSA countries have shown little growth in fashion and textile manufacturing and export from the starting of the year 2000. Unlike the developing countries such as Vietnam and Bangladesh, the total export to the US, the EU and other parts of the world has declined. On the other hand, the total supply of fashion and textiles to the domestic market has been in rise. However, the local communities still need to rely on other countries to meet their demand. Availability of cheaper imported clothes from other countries such as Bangladesh, China and Vietnam have made it difficult for the local manufacturers to produce at a cheaper price.

Keywords: Sub-Saharan Africa, developing countries, apparel industry, fashion and textile, sustainable fashion

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Authors: Raj Mukta Sundaram

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The location of Ayodhya is distinctly described along river Sarayu in the epic Ramayan. On the contrary, even elaborate descriptions of Lanka and its environs are still proving elusive to human ingenuity to find a direct correlation on the ground. His-torically, there were hardly any attempts to locate Lanka, but some speculations have been made very recently, of which Sri Lanka has gained widespread public ac-ceptance for obvious reasons, such as Sri and Lanka. This belief is almost secured by the impression of Ram Setu on the satellite images, which has led the government to initiate a scientific mission to determine its age. In fact, other viewpoints believe Lanka to be somewhere far-flung along the equator, and another has long proclaimed it to be in central regions of India, but both are diminished by contemporary belief. This study emanates from the fact that Sri Lanka has no correlation to epic, and more importantly, satellite images are deceptive. So the objectives are twofold - firstly, to interpret the text from a holistic approach by analyzing the ecosystem, settlements, geological as-pects, and most importantly, the timeline of key events. Secondly, it explains the pit-falls in the rationale behind contemporary belief. At the outset, it categorically rejects the notion of Ram Setu, which, in geological terms, is merely a part of the continental shelf developed millions of years ago. It also refutes the misconception created by the word “Sri,” which is, in fact, an official name adopted by the country in the seventies with no correlation whatsoever with the events of Ramayana. Likewise, the study ar-gues for the establishment of a prosperous kingdom on a remote island with adverse climatic conditions for any civilization at that time. Eventually, the study demonstrates that travel time for the distances covered by Lord Rama does not corroborate with the description in the epic. It all leads to one conclusion that Lanka cannot be in Sri Lanka. Rather, it needs to be somewhere in the central-eastern parts of India. That region jus-tifies the environs and timelines for the journeys undertaken by Lord Rama, besides the fact that the tribes of the region show strong allegiance to Ravana. The study strongly recommends looking into the central-east region of India for the golden abode of a demon king and rejuvenating tourism of a scenic and culturally rich region hitherto marred by disturbances.

Keywords: spatial analysis, Ramayan, heritage, tourism

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Authors: Jeroen De Ceuster

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This study is the first empirical analysis of the link between corporate governance and European Union competition law. Although competition law enforcement is often studied through the lens of competition law, we offer an alternative perspective by looking at a number of corporate governance factor at the level of the board of directors. We find that undertakings where the Chief Executive Officer is also chairman of the board are twice as likely to violate European Union competition law. No significant relationship was found between European Union competition law infringements and gender diversity of the board, the size of the board, the percentage of directors appointed after the Chief Executive Officer, the percentage of independent directors, or the presence of corporate social responsibility (CSR) committee. This contribution is based on a 1-1 matched peer study. Our sample includes all ultimate parent companies with a board that have been sanctioned by the European Commission for either anticompetitive agreements or abuse of dominance for the period from 2004 to 2018. These companies were matched to a company with headquarters in the same country, belongs to the same industry group, is active in the European Economic Area, and is the nearest neighbor to the infringing company in terms of revenue. Our final sample includes 121 pairs. As is common with matched peer studies, we use CLR to analyze the differences within these pairs. The only statistically significant independent variable after controlling for size and performance is CEO/Chair duality. The results indicate that companies whose Chief Executive Officer also functions as chairman of the board are twice as likely to infringe European Union competition law. This is in line with the monitoring theory of the board of directors, which states that its primary function is to monitor top management. Since competition law infringements are mostly organized by management and hidden from board directors, the results suggest that a Chief Executive Officer who is also chairman is more likely to be either complicit in the infringement or less critical towards his day-to-day colleagues and thus impedes proper detection by the board of competition law infringements.

Keywords: corporate governance, competition law, board of directors, board independence, ender diversity, corporate social responisbility

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Authors: Natasha Lalla

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The impact of free trade on growth has been highly debated and studies have generated varying results. Since the 1970s the Caribbean has engaged in asymmetrical trade with some European states characterized by the Lomé Conventions (1975-1999). These agreements allowed for Caribbean products such as sugar and banana to enter some European countries duty-free and above market prices. With the onset of the World Trade Organization by the mid-1990s, the EU’s banana trade regime was considered illegitimate. Lomé was replaced by the Cotonou agreement (2000-2007), in order to phase out preferences and ensure that the Caribbean trade arrangements were consistent with the international economic environment of trade liberalization. This agreement facilitated signing of the Economic Partnership Agreement in 2008 by both trade blocs whereby Caribbean states must implement freer trade by 2033. The current study is an exploration of how the Organization of the Eastern Caribbean States, the smallest, economically and ecologically vulnerable states of the Caribbean have restructured their trade policies towards the end of preferences and what has been the economic developmental impact of this. This is done by analyzing key reports to understand how these states restructured policies towards freer trade. Secondly, to determine the impact of this, data collected for specific economic indicators were analyzed in a fixed effects panel data framework for the period 1979-2016 on six states of the Organization of the Eastern Caribbean States. The study, therefore, found that freer trade has resulted in negative growth in these states.

Keywords: free trade, growth, OECS, small island developing states

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Authors: Tom Turner

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The recent financial crisis in 2008 and the growing inequality in developed industrial societies would appear to present significant challenges to capitalism and the free market. Yet there have been few substantial mainstream political or economic challenges to the dominant capitalist and market paradigm to-date. There is no dearth of critical and theoretical (academic) analyses regarding the prevailing systems failures. Yet despite the growing inequality in the developed industrial societies and the financial crisis in 2008 few commentators have advocated the comprehensive socialization or state ownership of the means of production to our knowledge – a core principle of radical Marxism in the 19th and early part of the 20th century. Undoubtedly the experience in the Soviet Union and satellite countries in the 20th century has cast a dark shadow over the notion of centrally controlled economies and state ownership of the means of production. In this paper, we explore the history of a doctrine advocating the socialization or state ownership of the means of production that was central to Marxism and socialism generally. Indeed this doctrine provoked an intense and often acrimonious debate especially for left-wing parties throughout the 20th century. The debate within the political economy tradition has historically tended to divide into a radical and a revisionist approach to changing or reforming capitalism. The radical perspective views the conflict of interest between capital and labor as a persistent and insoluble feature of a capitalist society and advocates the public or state ownership of the means of production. Alternatively, the revisionist perspective focuses on issues of distribution rather than production and emphasizes the possibility of compromise between capital and labor in capitalist societies. Over the 20th century, the radical perspective has faded and even the social democratic revisionist tradition has declined in recent years. We conclude with the major challenges that confront both the radical and revisionist perspectives in the development of viable policy agendas in mature developed democratic societies. Additionally, we consider whether state ownership of the means of production still has relevance in the 21st century and to what extent state ownership is off the agenda as a political issue in the political mainstream in developed industrial societies. A central argument in the paper is that state ownership of the means of production is unlikely to feature as either a practical or theoretical solution to the problems of capitalism post the financial crisis among mainstream political parties of the left. Although the focus here is solely on the shifting views of the radical and revisionist socialist perspectives in the western European tradition the analysis has relevance for the wider socialist movement.

Keywords: sate ownership, ownership means of production, radicals, revisionists

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Authors: Minghui Zou

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This study investigates whether and how cognate status influences switching costs in bilingual language production. Two picture naming tasks will be conducted in this proposed study by manipulating the conditions of how cognates and non-cognates are presented, i.e., separately in two testing blocks vs intermixed in one single testing block. Participants of each experiment will be 24 L1-European Portuguese L2-English unbalanced speakers. Stimuli will include 12 pictures of cognate nouns and 12 of non-cognate nouns. It is hypothesized that there will be cognate switch facilitation effects among unbalanced bilinguals in both of their languages when stimuli are presented either in two single testing blocks or one mixed testing block. Shorter reaction times and higher naming accuracy are expected to be found in cognate switch trials than in non-cognate switch trials.

Keywords: cognates, language switching costs, picture naming, European Portuguese, cognate facilitation effect

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Authors: Zhiguo Ju

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Both ancient written documents and archaeological studies showed that the ancient Chinese was people who worshiped the Sun God. There is a legend of Dayi in China, however, told a story of Dayi, an ancient hero who sacrificed his life to shoot nine suns out of the ten in the sky, restored the order of the universe, and saved the people’s life. By investigating its oral inheritance and folk customs, we found that the story was originated from Rizhao, the east coralline in east China. This could provide valuable cultural resources and could be used in local tourism. How the Sun-worshipping-people developed such a contradictory legend, how was it be carried by generations, and how to use it as a cultural source to promote the local tourism was discussed.

Keywords: Legend of Dayi, sun worship, ancient Chinese, China

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Authors: Emma M. Iglesias

Abstract:

We have analyzed extreme movements of the main stocks traded in the Eurozone in the 2000-2012 period. Our results can help future very-risk-averse investors to choose their portfolios in the Eurozone for risk management purposes. We find two main results. First, we can clearly classify firms by economic sector according to their different estimated VaR values in five of the seven countries we analyze. In special, we find sectors in general where companies have very high (telecommunications and banking) and very low (petroleum, utilities, energy and consumption) estimated VaR values. Second, we only find differences according to the geographical situation of where the stocks are traded in two countries: (1) all firms in the Irish stock market (the only financially rescued country we analyze) have very high estimated VaR values in all sectors; while (2) in Spain all firms have very low estimated VaR values including in the banking and the telecommunications sectors. All our results are supported when we study also the expected shortfall of the firms.

Keywords: risk management, firms, pareto tail thickness parameter, GARCH-type models, value-at-risk, extreme value theory, heavy tails, stock indexes, eurozone

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Authors: Ahmad Ali Ansari, Hassan Arshad, Basharat Hussani, Adnan Raza, Ahmad Ali Khan

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Child labor is a kind of an issue which was found all over the world, but now the first world countries like countries in Europe and America (USA) got hold of it up to a large extent but Underdeveloped or the developing countries including Pakistan are still a victim of this issue. The following attempt has been made in this research article to figure out the main reasons of child labor in underdeveloped countries especially in Pakistan and also some of the issues are discussed which are hindering the solution of child labor in Pakistan. In this research we interviewed 70 working children in the area of Rawalpindi, Islamabad, Taxila and Hatar who belonged to the different parts of the country and figured out the basic causes of the child labor in Pakistan, what are its bad effects on the young one who is a victim of it and we also put a light on what the government of Pakistan is doing in this context and what the government still have to do.

Keywords: child labour, Pakistan, case study, underdeveloped countries

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Authors: Hafiz Khubaib Ur Rehman Awan

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Education used to play a central role in the formation and transfiguration of society since early times, owing in part to the centrality of scripture and its study in the human circles. According to the Islamic purpose of education, its pivotal contribution in the society is to produce a balanced growth of the entire persona of an individual through training the spirit, intellect, rational self, feelings, and bodily senses such that faith is infused into the whole personality. The purpose of this study is to attempt the exploration of the development of the Islamic religious curriculum in the Islamic world with an emphasis on Pakistan because this homeland came into existence under the name of Islam. This study persists of necessary historical background on the curricular reform of religious education in Pakistan and their impact on it and the suburban countries. However, the mainstay of this paper bases on reform in the religious education curriculum and the challenges faced by Pakistan and the Islamic world. Some suggestions are positioned at the end for areas of Islamic religious education and the improvement of Islamic curricular reform, especially in Pakistan and generally in Muslim countries.

Keywords: curricula, religious educational institutions, Pakistan, Muslim world, educational, religious , curricula

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Authors: Solomon Ojo

Abstract:

The study investigated emotional intelligence as a correlate of conflict management styles among managers and supervisors in work organization. The study was a survey and Ex-post facto design was employed. A total of 407 participants took part in the study, and the participants were selected across different work organizations in the six (6) existing Geo-political zones in Nigeria, namely South-West, South East, South-South, North-East, North-West and North-Central. Questionnaire format was used for data collection in the study. Collected data were analyzed by both the Descriptive and Inferential Statistics, specifically using the Statistical Package for Social Sciences (SPSS) version 21.0. The findings revealed that considerate leadership style was significantly and positively related to the use of collaborating conflict management style, [r(405) = .50**, P < .01]; Considerate leadership style was significantly and positively related to the use of compromising conflict management style, [r(405) = .3**, P < .01]; Considerate leadership style was significantly and positively related to accommodation conflict management style, [r(405) = .64**, P < .01]; Considerate leadership style was not significantly related to competing conflict management style, [r(405) = .07, P > .05]; Considerate leadership style was significantly and negatively related to avoiding conflict management style, [r(405) = -.38**, P < .01]. Further, initiating structural leadership style was significantly and positively related to competing conflict management style, [r(405) = .33**, P < .01], avoiding conflict management style, [r(405) = .41**, P < .01]; collaborating conflict management style [r(405) = 51**, P < .01]. However, the findings showed that initiating structural leadership style was significantly and negatively related to compromising style, [r(405) = -.57**, P < .01] and accommodating style, [r(405) = -.13**, P < .01]. The findings were extensively discussed in relation to the existing body of literature. Moreover, it was concluded that leadership styles of managers and supervisors play a crucial role in the choice and use of conflict management styles in work organizations in Nigeria.

Keywords: conflict management style, emotional, intelligence, leadership style, consideration, initiating structure, work organizations

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Authors: Yongsheng Guo, Shuchao Li

Abstract:

This study explores Chinese foreign direct investment (FDI) in Europe and the cross-cultural cooperation between Chinese and European managers. The aim of this research is to shed light on the phenomenon of investments in developed countries from an emerging market and to gain insights into the cooperation process. A grounded theory approach is adopted, and 46 semi-structured interviews were conducted with 10 case companies in Germany and 13 case companies in the UK. Grounded theory models are developed from primary data and interview quotes are used to support the themes. The interviewees perceived differences between the two parties in cultural traits, management concepts, knowledge structure and resource endowment between the two parties. Chinese and European partners can take advantage of different resources and cooperate in innovative ways to improve corporate performance. Moreover, both parties appreciate different ethical and cultural characteristics and complement each other to develop a combined organizational culture. This study proposes an ethical and cultural diversity theory in international management arguing that a team with diversified values and behaviors may be more excited and motivated. This study suggests that “resource complement” and “cross-cultural cooperation” might be an advantage for international investment. Firms are encouraged to open their minds and cooperate with partners with different resources and cultures. The authorities may review the FDI policies to reduce social and political barriers.

Keywords: cross-culture, FDI, cooperation, innovation, China, Europe

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Authors: Rofayda A. Hout

Abstract:

This study aims to investigate the relationship between women on board and corporate social responsibility (CSR) in addition to the role of corporate governance in introducing and implementing CSR practices. Analysis has been conducted on 30 prior studies published between 2007 and 2017 to investigate the common areas and differences across the studies with varying conclusions. The study also handles the differences between developing and developed countries when it comes to gender diverse board and corporate social responsibility. The review conducted reveals that there is a positive relationship between women on board and corporate social responsibility. Comparison between developed and developing countries with respect to CSR implementation highlighted differences due to possible reasons relating to socio-political, cultural, socio-economic, and institutional factors. In addition, developing countries perceive CSR as philanthropy rather than part of their business mission. Given that, CSR needs to be integrated into the corporate strategic planning and be considered as fundamental part of the operations to improve the region’s needs. Developing countries were late in adopting CSR in comparison to developed countries, thus to have a fair comparison between developed and developing countries, corporate governance in developing countries should take serious steps in developing a framework for CSR implementation and integrating it within corporate operations.

Keywords: corporate governance, corporate performance, corporate social responsibility, developed countries, developing countries, gender diverse board, systematic review

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Authors: Elena Masi, Adolfo Morrone

Abstract:

Migration has recently become a mainstream development sector and is currently at the forefront in institutional and civil society context. However, no consensus exists on how the link between migration and development operates, that is how development is related to migration and how migration can promote development. On one hand, Official Development Assistance is recognized to be one of the levers to development. On the other hand, the debate is focusing on what should be the scope of aid programs targeting migrants groups and in general the migration process. This paper provides a descriptive analysis on how development aid for migration was allocated in the recent past, focusing on the actions that were funded and implemented by the international donor community. In the absence of an internationally shared methodology for defining the boundaries of development aid on migration, the analysis based on lexical hypotheses on the title or on the short description of initiatives funded by several Organization for Economic Co-operation and Development (OECD) countries. Moreover, the research describes and quantifies aid flows for each country according to different criteria. The terms migrant and refugee are used to identify the projects in accordance with the most internationally agreed definitions and only actions in countries of transit or of origin are considered eligible, thus excluding the amount sustained for refugees in donor countries. The results show that the percentage of projects targeting migrants, in terms of amount, has followed a growing trend from 2009 to 2016 in several European countries, and is positively correlated with the flows of migrants. Distinguishing between programs targeting migrants and programs targeting refugees, some specific national features emerge more clearly. A focus is devoted to actions targeting the root causes of migration, showing an inter-sectoral approach in international aid allocation. The analysis gives some tentative solutions to the lack of consensus on language on migration and development aid, and emphasizes the need to internationally agree on a criterion for identifying programs targeting both migrants and refugees, to make action more transparent and in order to develop effective strategies at the global level.

Keywords: migration, official development assistance, ODA, refugees, time series

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Authors: Bashar Dahiru Bashar

Abstract:

Growing research reveals an unprecedented increase in African applicants for PhD positions across European universities. Meanwhile, a very small percentage is accepted as qualified candidates to marginalize, perpetuate stereotypes, and institute racial discrimination. Candidates of color very often encounter barriers and prejudices that not only diminish their sense of belonging but also hinder their academic progress. Although this issue has existed for quite some time, it attracts little attention, even from the academic community in higher education. Moreover, the focus is mostly on the applicants. In this contribution, concern has been raised that the African applicants for PhD positions in European Universities are the victims rather than the perpetrators. The Universities designed a recruitment process that is in all respects exclusive, biased, and European. The recruitment exercise is a hocus-post in order to cover language and racial and ethnic rejection. Just in the same way legacy admission is practiced in the US. The paper further expressed that the logic is to systematically maintain racial hierarchy and social dominance within the education sector. And because those at an advantage are also the ones that have the media and are predominant in academia, issues like this are not receiving deserved attention. Many people were victims of this recruitment process, while others survived severely wounded as a result of mental, social, and economic trauma. It is not the aim of this paper to provide an armchair solution to this issue but only to showcase the process with the hope of providing something that is needed to improve the present day's literacy and situation. The findings contribute to the broader discourse on diversity, equity, and inclusiveness within European Universities, emphasizing, amongst others, the need for cultivating an atmosphere where individuals are valued for their contributions rather than assessed based on race and ethnicity is essential for creating a vibrant and equitable global academic community, forging a path towards a just and harmonious educational landscape where everyone irrespective of race or ethnicity can thrive and contribute to the collective pursuit of knowledge.

Keywords: admission and recruitment for PhD position, globalization of education, systemic rejection, European university

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