Search results for: European commission

Authors: Karolína Vozková, Matěj Kuc

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This paper analyzes recent trends in cost efficiency of European cooperative banks using efficient frontier analysis. Our methodology is based on stochastic frontier analysis which is run on a set of 649 European cooperative banks using data between 2006 and 2015. Our results show that average inefficiency of European cooperative banks is increasing since 2008, smaller cooperative banks are significantly more efficient than the bigger ones over the whole time period and that share of net fee and commission income to total income surprisingly seems to have no impact on bank cost efficiency.

Keywords: cooperative banks, cost efficiency, efficient frontier analysis, stochastic frontier analysis, net fee and commission income

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Authors: Karolína Vozková, Matěj Kuc

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Net fee and commission income is one of the key elements of a bank’s core income. In the current low-interest rate environment, this type of income is gaining importance relative to net interest income. This paper analyses the effects of bank and country specific determinants of net fee and commission income on a set of cooperative banks from European countries in the 2007-2014 period. In order to do that, dynamic panel data methods (system Generalized Methods of Moments) were employed. Subsequently, alternative panel data methods were run as robustness checks of the analysis. Strong positive impact of bank concentration on the share of net fee and commission income was found, which proves that cooperative banks tend to display a higher share of fee income in less competitive markets. This is probably connected with the fact that they stick with their traditional deposit-taking and loan-providing model and fees on these services are driven down by the competitors. Moreover, compared to commercial banks, cooperatives do not expand heavily into non-traditional fee bearing services under competition and their overall fee income share is therefore decreasing with the increased competitiveness of the sector.

Keywords: cooperative banking, dynamic panel data models, net fee and commission income, system GMM

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Authors: Wolfgang Haupt

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When considering the future city one repeatedly comes across two sometimes sparsely differentiated terms: Sustainable and smart. ‘A European Strategy for Smart, Sustainable, and Inclusive Growth’, this is how the European Commission named its current growth strategy. Thus, Europe should become smarter and more sustainable. Both, the smart and the sustainable city represent a positive vision of urban development as well as a subject area for contemporary and future urban policies. However, more clarity on what is actually behind these terminologies is required. The paper analyses how the terms are defined academically and how this academic understanding is represented in the funding mechanisms of European urban policies. The theoretical framework is mainly based on sources such as journal articles and policy reports. It became clear that despite some similarities, such as the broad field of work or the tendency to operationalize the terms by defining sub-categories, both ideas are distinctly different in terms of the development history, the main driving forces behind and the theoretical scope. Moreover, the significantly more comprehensively defined term sustainability has found its way into the centre of European regional funding policies. On the contrary, the smart city vision still lacks terminological and content-related clarity and as a consequence, the corresponding European funding landscape is more small-scaled and less customized.

Keywords: European spatial policy, European union, smart city, urban sustainable development

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Authors: M. Eckert, D. Mendes, J P. Gonçalves, C. Moço, M. Oliveira

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The intensive extraction of natural aggregates leads to both depletion of natural resources and unwanted environmental impacts. On the other hand, uncontrolled disposal of Construction and Demolition Wastes (C&DW) causes the lifetime reduction of landfills. It is known that the European Union produces, each year, about 850 million tons of C&DW. For all the member States of the European Union, one of the milestones to be reached by 2020, according to the Resource Efficiency Roadmap (COM (2011) 571) of the European Commission, is to recycle 70% of the C&DW. In this work, properties of different types of recycled C&DW aggregates and natural aggregates were compared. Assays were performed according to European Standards (EN 13285; EN 13242+A1; EN 12457-4; EN 12620; EN 13139) for the characterization of there: physical, mechanical and chemical properties. Not standardized tests such as water absorption over time, mass stability and post compaction sieve analysis were also carried out. The tested recycled C&DW aggregates were classified according to the requirements of the European Standards regarding there potential use in concrete, mortar, unbound layers of road pavements and embankments. The results of the physical and mechanical properties of recycled C&DW aggregates indicated, in general, lower quality properties when compared to natural aggregates, particularly, for concrete preparation and unbound layers of road pavements. The results of the chemical properties attested that the C&DW aggregates constitute no environmental risk. It was concluded that recycled aggregates produced from C&DW have the potential to be used in many applications.

Keywords: recycled aggregate, sustainability, aggregate properties, European Standard Classification

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Authors: Daniel Silander

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This article explores the EU Initiated European Neighborhood Policy (ENP) towards Ukraine. It also explores Russian geopolitics in the region. We argue that Ukraine is sandwiched between two regional powers in the EU and Russia. By analyzing EU democracy promotion towards Ukraine and neighbors, we assess a weak EU normative capacity. Instead of building a “ring of friends”, as argued by the EU Commission, in an enlarged democratic community, the EU has achieved poor democratic records in Ukraine which opened for a revival of Russia in the region and causes the international crisis over Crime of 2014.

Keywords: regional neighborhood policy, European Union, Russia, Ukraine, domestic elites

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Authors: Ksenija Dumičić, Anita Čeh Časni, Berislav Žmuk

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The aim of this paper is to select the most accurate forecasting method for predicting the future values of the unemployment rate in selected European countries. In order to do so, several forecasting techniques adequate for forecasting time series with trend component, were selected, namely: double exponential smoothing (also known as Holt`s method) and Holt-Winters` method which accounts for trend and seasonality. The results of the empirical analysis showed that the optimal model for forecasting unemployment rate in Greece was Holt-Winters` additive method. In the case of Spain, according to MAPE, the optimal model was double exponential smoothing model. Furthermore, for Croatia and Italy the best forecasting model for unemployment rate was Holt-Winters` multiplicative model, whereas in the case of Portugal the best model to forecast unemployment rate was Double exponential smoothing model. Our findings are in line with European Commission unemployment rate estimates.

Keywords: European Union countries, exponential smoothing methods, forecast accuracy unemployment rate

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Authors: Carolina B. A. Morais, Antonio Bob Santos

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In order to determine how innovation procurement can strengthen public efficiency and foster the modernization of public services, while at the same time promoting the opening of new private markets, this paper aims to present the two key instruments for the practice of innovation procurement at a European, national, and regional level – Pre-Commercial Procurement (PCP), and Public Procurement of Innovative Solutions (PPI). Thus, it starts with a theoretical framework on the emergence of this topic in the European Innovation Policy (Section 2), then continues with the identification and systematization of the main mechanisms for its effective adoption, both on the demand and supply side of the market (Section 3), as well as to expose and describe methods and tools for positioning innovation at the heart of public entities. The innovative projects best distinguished by the European Commission for their good practices in innovation procurement are identified, and the main methodology for the development and management of innovation procurement – Forward Commitment Procurement (FCP) – is applied to them in a pioneering way (Section 4). The relevance of innovation in public procurement is systematized and reflected upon in Section 5.

Keywords: innovation procurement, innovation policy, innovation, pubic procurement

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Authors: Asriana Issa Sofia, Retno Hendrowati, Dewi Kurniaty

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This study aims at analyzing the role of Corruption Eradication Commission in combating corruption cases including punishing high-profile corruptors and changing the culture of corruption in Indonesia by strengthening the relations with other agencies. Corruption Eradicating Commission was created in 2002 as Indonesia’s most trusted government institution as the anti-corruption agency that will exercise investigatory and prosecutorial power independently from the executive, legislature, and judiciary. The analysis of partnership addressed the role of collaboration with other institutions including Non-Government Organization, Youth Organization, Governmental Institution and Society. The collaboration is needed due to the limitations of Corruption Eradication Commission in preventing corruption. The collaboration focuses on the intensive communication, strengthening leadership, commitment, and creating trust. The research method used the qualitative study by employing the literature study and having a semi-structured interview with the key informant in Corruption Eradication Commission and its partners. The analysis found that intensive communication, leadership, communication, and creating trust were the important pillars in assisting Corruption Eradication Commission to prevent the incoming seed of corruption. The pillars will support the Indonesian Government to deliver better services for society.

Keywords: corruption, corruption eradicating commission, partnership, preventing actions

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Authors: Pia Moschall, Kathrin Sackmann

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Considering a purchasing volume of around two trillion Euros per year, which equals about 14% of the European Union’s gross domestic product, European public authorities have significant market power. Making use of this market power by prioritizing the procurement of green products and services offers a great potential to contribute to the Green New Deal. The market demand that is created by Green Public Procurement (GPP) sets incentives for European producers to design and develop Green Products and Eco-Innovations. However, most procurement still does not consider environmental criteria. The goal of the work is to encourage the adaptation of GPP in the European Union. To this end, the drivers for the adaptation were investigated over different case studies. The paper analyzes good-practice cases from European authorities from 2010 to 2020 that were provided by the European Commission. This analysis was guided by Philipp Mayring’s method of qualitative content analysis, whereby the inductively formed categories led to the identification of nine major drivers. The most important ones are ‘use of official guidelines and standards, ‘political support and requirements as well as ‘market research and involvement.’ Further, the paper discusses mutual dependencies between several drivers and how to exploit them. A supporting infrastructure was identified as a crucial factor for the successful adaption of green public procurement. In the next step, the work aims to examine on which administrative level the single drivers can be implemented most effectively. Practical implications of this research are recommendations on how to create a supporting structure on a municipal, federal and national level, including training for the responsible staff, support tools, as well as guidelines and standards for involved stakeholders.

Keywords: content analysis, green public procurement, public authorities, sustainable procurement

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Authors: Ada Garus

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This paper presents the outcomes of the sustainability assessment of food delivery with a last-mile delivery service introduced in a real-world case study. The methodology used in the sustainability assessment integrates multi-criteria decision-making analysis, sustainability pillars, and scenario analysis to best reflect the conflicting needs of stakeholders involved in the last mile delivery system. The case study provides an application of the framework to the food delivery system of the Joint Research Centre of the European Commission where three alternative solutions were analyzed I) the existent state in which individuals frequent the local cantine or pick up their food, using their preferred mode of transport II) the hypothetical scenario in which individuals can only order their food using the delivery droid system III) a scenario in which the food delivery droid based system is introduced as a supplement to the current system. The environmental indices are calculated using a simulation study in which decision regarding the food delivery is predicted using a multinomial logit model. The vehicle dynamics model is used to predict the fuel consumption of the regular combustion engines vehicles used by the cantine goers and the electricity consumption of the droid. The sustainability assessment allows for the evaluation of the economic, environmental, and social aspects of food delivery, making it an apt input for policymakers. Moreover, the assessment is one of the first studies to investigate automated delivery droids, which could become a frequent addition to the urban landscape in the near future.

Keywords: innovations in transportation technologies, behavioural change and mobility, urban freight logistics, innovative transportation systems

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Authors: Evangelia-Matroni Tomara

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This thesis answers the question whether the media representations and reporting in 2015-2016 - especially, after the image of the drowned three-year-old Syrian boy in the Mediterranean Sea which made global headlines in the beginning of September 2015 -, the European Commission regulatory sources material and related reporting, have the power to challenge the conceptualization of humanitarianism or even redefine it. The theoretical foundations of the thesis are based on humanitarianism and its core definitions, the power of media representations and the relative portrayal of migrants, refugees and/or asylum seekers, as well as the dominant migration discourse and EU migration governance. Using content analysis for the media portrayal of migrants (436 newspaper articles) and qualitative content analysis for the European Commission Communication documents from May 2015 until June 2016 that required various depths of interpretation, this thesis allowed us to revise the concept of humanitarianism, realizing that the current crisis may seem to be a turning point for Europe but is not enough to overcome the past hostile media discourses and suppress the historical perspective of security and control-oriented EU migration policies. In particular, the crisis helped to shift the intensity of hostility and the persistence in the state-centric, border-oriented securitization in Europe into a narration of victimization rather than threat where mercy and charity dynamics are dominated and into operational mechanisms, noting the emergency of immediate management of the massive migrations flows, respectively. Although, the understanding of a rights-based response to the ongoing migration crisis, is being followed discursively in both political and media stage, the nexus described, points out that the binary between ‘us’ and ‘them’ still exists, with only difference that the ‘invaders’ are now ‘pathetic’ but still ‘invaders’. In this context, the migration crisis challenges the concept of humanitarianism because rights dignify migrants as individuals only in a discursive or secondary level while the humanitarian work is mostly related with the geopolitical and economic interests of the ‘savior’ states.

Keywords: European Union politics, humanitarianism, immigration, media representation, policy-making, refugees, security studies

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Authors: G. Cinelli, T. Tollefsen, P. Bossew, V. Gruber, R. Braga, M. A. Hernández-Ceballos, M. De Cort

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In 2006, the Joint Research Centre (JRC) of the European Commission started the project of the 'European Atlas of Natural Radiation'. The Atlas aims at preparing a collection of maps of Europe displaying the levels of natural radioactivity caused by different sources (indoor and outdoor radon, cosmic radiation, terrestrial radionuclides, terrestrial gamma radiation, etc). The overall goal of the project is to estimate, in geographical resolution, the annual dose that the public may receive from natural radioactivity, combining all the information from the different radiation components. The first map which has been developed is the European map of indoor radon (Rn) since in most cases Rn is the most important contribution to exposure. New versions of the map are realised when new countries join the project or when already participating countries send new data. We show the latest status of this map which currently includes 25 European countries. Second, the JRC has undertaken to map a variable which measures 'what earth delivers' in terms of Rn. The corresponding quantity is called geogenic radon potential (RP). Due to the heterogeneity of data sources across the Europe there is need to develop a harmonized quantity which at the one hand adequately measures or classifies the RP, and on the other hand is suited to accommodate the variety of input data used to estimate this target quantity. Candidates for input quantities which may serve as predictors of the RP, and for which data are available across Europe, to different extent, are Uranium (U) concentration in rocks and soils, soil gas radon and soil permeability, terrestrial gamma dose rate, geological information and indoor data from ground floor. The European Geogenic Radon Map gives the possibility to characterize areas, on European geographical scale, for radon hazard where indoor radon measurements are not available. Parallel to ongoing work on the European Indoor Radon, Geogenic Radon and Cosmic Radiation Maps, we made progress in the development of maps of terrestrial gamma radiation and U, Th and K concentrations in soil and bedrock. We show the first, preliminary map of the terrestrial gamma dose rate, estimated using the data of ambient dose equivalent rate available from the EURDEP system (about 5000 fixed monitoring stations across Europe). Also, the first maps of U, Th, and K concentrations in soil and bedrock are shown in the present work.

Keywords: Europe, natural radiation, mapping, indoor radon

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Authors: M. Adamczak-Retecka, O. Hołub-Śniadach

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Dangerous of climate change is now global problem and as such has a strategic priority also for the European Union. Europe and European citizens try to do their best to cut greenhouse gas emissions, moreover they substantially encourage other nations and regions to follow the same way. The European Commission and a number of Member States have developed adaptation strategies in order to help strengthen EU's resilience to the inevitable impacts of climate change. The EU has long been a driving force in international negotiations on climate change and was instrumental in the development of the UN Framework Convention on Climate Change. As the world's leading donor of development aid, the EU also provides substantial funding to help developing countries tackle climate change problem. Global warming influences human health, biodiversity, ecosystems but also many social and economic sectors. The aim of this paper is to focus on impact of claimant change on for food security. Food security challenges are directly related to globalization, climate change. It means that current and future food policy is exposed to all cross-cutting and that must be linked with environmental and climate targets, which supposed to be achieved. In the 7th EAP —The new general Union Environment Action Program to 2020, called “Living well, within the limits of our planet” EU has agreed to step up its efforts to protect natural capital, stimulate resource efficient, low carbon growth and innovation, and safeguard people’s health and wellbeing– while respecting the Earth’s natural limits.

Keywords: climate change, food security, sustainable food consumption, climate governance

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Authors: Paulina Pietrzyk-Kowalec

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This paper presents the phenomenon of multilingualism becoming the norm rather than the exception in the European Union. It also seeks to describe the correlation between the command of foreign languages and employability. It is evident that the challenges of today's societies when it comes to employability and to the reality of the current labor market are more and more diversified. Thus, it is one of the crucial tasks of higher education to prepare its students to face this kind of complexity, understand its nuances, and have the capacity to adapt effectively to situations that are common in corporations based in the countries belonging to the EU. From this point of view, the assessment of the impact that the command of foreign languages of European university students could have on the numerous business sectors becomes vital. It also involves raising awareness of future professionals to make them understand the importance of mastering communicative skills in foreign languages that will meet the requirements of students' prospective employers. The direct connection between higher education institutions and the world of business also allows companies to realize that they should rethink their recruitment and human resources procedures in order to take into account the importance of foreign languages. This article focuses on the objective of the multilingualism policy developed by the European Commission, which is to enable young people to master at least two foreign languages, which is crucial in their future careers. The article puts emphasis on the existence of a crucial connection between the research conducted in higher education institutions and the business sector in order to reduce current qualification gaps.

Keywords: cross-cultural communication, employability, human resources, language attitudes, multilingualism

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Authors: Tiron-Tudor Adriana, Farcas Teodora Viorica, Ciolomic Ioana Andreea

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The issue of human capital mobility inside Europe is still an open one. Even though there were created some tools in order to better move from one country to another to work and study the number of the people doing this is very low because of various factors presented in this paper. The "rethinking educational" agenda of the European Commission has open the floor for new projects which can create steps towards a European language for skills and competences, qualifications. One of these projects is the Partnership for Exchange of experience in Student on-the-job Training. As part of this project, we are interested to see the situation of the human capital inside EU and the elements that were created until now to support this mobility. Also, the main objective of the project is to make a comparison between the four countries involved in PEST project (Romania, Hungary, Finland, and Estonia), at the education and internship level. The results are helpful for the follow of the project, for identifying where changes can be done and need to be done.

Keywords: ECVET, human capital mobility, partnership exchange, students on the job mobility, vocational education and training

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Authors: M. Marín-Ferrer, M. A. Hernández, T. Tollefsen, S. Vanzo, E. Nweke, P. V. Tognoli, M. De Cort

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Under the terms of Article 36 of the Euratom Treaty, European Union Member States (MSs) shall periodically communicate to the European Commission (EC) information on environmental radioactivity levels. Compilations of the information received have been published by the EC as a series of reports beginning in the early 1960s. The environmental radioactivity results received from the MSs have been introduced into the Radioactivity Environmental Monitoring database (REMdb) of the Institute for Transuranium Elements of the EC Joint Research Centre (JRC) sited in Ispra (Italy) as part of its Directorate General for Energy (DG ENER) support programme. The REMdb brings to the scientific community dealing with environmental radioactivity topics endless of research opportunities to exploit the near 200 millions of records received from MSs containing information of radioactivity levels in milk, water, air and mixed diet. The REM action was created shortly after Chernobyl crisis to support the EC in its responsibilities in providing qualified information to the European Parliament and the MSs on the levels of radioactive contamination of the various compartments of the environment (air, water, soil). Hence, the main line of REM’s activities concerns the improvement of procedures for the collection of environmental radioactivity concentrations for routine and emergency conditions, as well as making this information available to the general public. In this way, REM ensures the availability of tools for the inter-communication and access of users from the Member States and the other European countries to this information. Specific attention is given to further integrate the new MSs with the existing information exchange systems and to assist Candidate Countries in fulfilling these obligations in view of their membership of the EU. Article 36 of the EURATOM treaty requires the competent authorities of each MS to provide regularly the environmental radioactivity monitoring data resulting from their Article 35 obligations to the EC in order to keep EC informed on the levels of radioactivity in the environment (air, water, milk and mixed diet) which could affect population. The REMdb has mainly two objectives: to keep a historical record of the radiological accidents for further scientific study, and to collect the environmental radioactivity data gathered through the national environmental monitoring programs of the MSs to prepare the comprehensive annual monitoring reports (MR). The JRC continues his activity of collecting, assembling, analyzing and providing this information to public and MSs even during emergency situations. In addition, there is a growing concern with the general public about the radioactivity levels in the terrestrial and marine environment, as well about the potential risk of future nuclear accidents. To this context, a clear and transparent communication with the public is needed. EURDEP (European Radiological Data Exchange Platform) is both a standard format for radiological data and a network for the exchange of automatic monitoring data. The latest release of the format is version 2.0, which is in use since the beginning of 2002.

Keywords: environmental radioactivity, Euratom, monitoring report, REMdb

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Authors: Robert Grzeszczak

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The article deals with one of the most significant issues concerning the functioning of the public sector in the European Union. The objectives of good governance were formulated by the EU itself and also the Scholars in reaction to the discussion that started a decade ago and concerned the role of the government in 21st century, the future of integration processes and globalization challenges in Europe. Currently, the concept of good governance is mainly associated with the improvement of management of public policies in the European Union, concerning both domestic and EU policies. However, it goes beyond the issues of state capacity and effectiveness of management. Good governance relates also to societal participation in the public administration and verification of decisions made in public authorities’ (including public administration). Indirectly, the concept and practice of good governance are connected to societal legitimisation of public bodies in the European Union.

Keywords: good governance, government, European law, European Union

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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: Benard Omogo

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The Kenyan Constitution 2010 introduced various commissions to devolve the powers that were previously centralized through the imperial Presidency. One of the commissions that directly determine the levels of remuneration and terms of service of Kenyan workers is the Salary and Remuneration Commission (SRC). Article 230 of the Kenyan Constitution 2010 mandates this commission to regularly review the remuneration and benefits of all the state officers and to advise the national and county governments on the remuneration and benefits of all other public officers. At the same time, article 54 of the Kenyan Labor Relations Act 2007 provides for the recognition of trade unions and collective bargaining agreements. The emerging challenges, therefore, originate from the conflicts of the mandate of the Salary and Remuneration Commission, whose advice is almost adopted as the order and this undermines the outcome of the Collective Bargaining Agreements. This has seen so many trade unions in Kenya being rendered irrelevant. This research paper is therefore going to sample the various trade unions of Kenya to assess the challenges that result from the position of the Salary and Remuneration Commission. We will also extend it by purposively sampling several trade unions in Africa to determine how they handle such challenges. The results from this paper will be useful to the Kenyan Lawmakers and Africa at large and may inform them to consider reviewing the laws and acts that relate to the trade unions for prosperity.

Keywords: salary, remuneration, collective, bargaining, labor laws

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Authors: Ljiljana Seric, Vladimir Divic, Marin Bugaric

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This paper presents methodology for spatial analysis of GIS data that is used for assessing the microlocation risk index from potential damages of high winds. The analysis is performed on freely available GIS data comprising information about wind load, terrain cover and topography of the area. The methodology utilizes the legislation of Eurocode norms for determination of wind load of buildings and constructions. The core of the methodology is adoption of the wind load parameters related to location on geographical spatial grid. Presented work is a part of the Wind Risk Project, supported by the European Commission under the Civil Protection Financial Instrument of the European Union (ECHO). The partners involved in Wind Risk project performed Wind Risk assessment and proposed action plan for three European countries – Slovenia, Croatia and Germany. The proposed method is implemented in GRASS GIS open source GIS software and demonstrated for Case study area of wider area of Split, Croatia. Obtained Wind Risk Index is visualized and correlated with critical infrastructures like buildings, roads and power lines. The results show good correlation between high Wind Risk Index with recent incidents related to wind.

Keywords: Eurocode norms, GIS, spatial analysis, wind distribution, wind risk

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Authors: Maria Krambia-Kapardis, Andreas Kapardis

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The paper discusses regulatory and legislative measures implemented by various nations in an effort to avert another financial crisis. More specifically, to address the financial crisis, the European Commission followed the practice of other developed countries and implemented a European Economic Recovery Plan in an attempt to overhaul the regulatory and supervisory framework of the financial sector. In 2010 the Commission introduced the European Systemic Risk Board and in 2011 the European System of Financial Supervision. Some experts advocated that the type and extent of financial regulation introduced in the European crisis in the wake of the 2008 crisis has been excessive and counterproductive. In considering how different countries responded to the financial crisis, global regulators have shown a more focused commitment to combat industry misconduct and to pre-empt abusive behavior. Regulators have also increased funding and resources at their disposal; have increased regulatory fines, with an increasing trend towards action against individuals; and, finally, have focused on market abuse and market conduct issues. Financial regulation can be effected, first of all, through legislation. However, neither ex ante or ex post regulation is by itself effective in reducing systemic risk. Consequently, to avert a financial crisis, in their endeavor to achieve both economic efficiency and financial stability, governments need to balance the two approaches to financial regulation. Fiduciary duty is another means by which the behavior of actors in the financial world is constrained and, thus, regulated. Furthermore, fiduciary duties extend over and above other existing requirements set out by statute and/or common law and cover allegations of breach of fiduciary duty, negligence or fraud. Careful analysis of the etiology of the 2008 financial crisis demonstrates the great importance of corporate governance as a way of regulating boardroom behavior. In addition, the regulation of professions including accountants and auditors plays a crucial role as far as the financial management of companies is concerned. In the US, the Sarbanes-Oxley Act of 2002 established the Public Company Accounting Oversight Board in order to protect investors from financial accounting fraud. In most countries around the world, however, accounting regulation consists of a legal framework, international standards, education, and licensure. Accounting regulation is necessary because of the information asymmetry and the conflict of interest that exists between managers and users of financial information. If a holistic approach is to be taken then one cannot ignore the regulation of legislators themselves which can take the form of hard or soft legislation. The science of averting a financial crisis is yet to be perfected and this, as shown by the preceding discussion, is unlikely to be achieved in the foreseeable future as ‘disaster myopia’ may be reduced but will not be eliminated. It is easier, of course, to be wise in hindsight and regulating unreasonably risky decisions and unethical or outright criminal behavior in the financial world remains major challenges for governments, corporations, and professions alike.

Keywords: financial crisis, legislation, regulation, financial regulation

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Authors: Armen Yezekyan

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The main purpose of this research is to comprehensively explore and identify the problems of attestation of the public servants and to propose solutions for these issues through deeply analyzing laws and the legal theoretical literature. For the detailed analysis of the above-mentioned problems we will use some research methods, the implementation of which has a goal to ensure the objectivity and clarity of scientific research and its results.

Keywords: attestation, attestation commission, competition commission, public servant, public service, testing

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Authors: Soumaya Ben Kheilifa, Dorra Mezzez Hmaied

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We propose two approaches to examine whether European hedge fund managers can time market liquidity. Using a sample of 1616 European hedge funds, we find evidence of liquidity timing. More importantly, this ability adds economic value to investors. Thus, it represents valuable managerial skill and a major source of European hedge funds’ performance. Also we show that the majority of these funds demonstrate liquidity timing ability especially during liquidity crisis. Finally, it emerged that our main evidence of liquidity timing remains significant after controlling for market timing and volatility timing.

Keywords: european hedge funds, liquidity timing ability, market liquidity, crisis

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Authors: Katalin Bándy

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The European emigration of highly educated immigrants draws attention to the problem of brain drain. Due to the Eastern European countries joining the EU and the opening of the Western European labour market the west-wards migration brisked up. By now another problem has been intensified correlated to migration: the migration of highly skilled workers related to brain waste tendencies. With some exceptions, educated immigrants from Eastern European countries are more likely to end up in unskilled jobs than residents. This paper is about to reveal the above-mentioned problems and this study is supported by the results of secondary pieces of research and the own survey made in the EU-15 among the Hungarian highly skilled (especially economics graduated) migrants, and it also examines the causes and in the focus there are the migrant motivations of the high-skilled young generation after the crisis.

Keywords: brain drain, brain waste, migration of highly-skilled, underemployment

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Authors: Ahmed Usman

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This paper attempts to examine the relevance of an Electoral Commission in the democratic process of governance in Nigeria. However, democratic system and governance present a clear indication of responsive and responsible governments. The idea of a government being responsive and responsible is based on the premise of conventional principles of democracy such as freedom of political, economic and social rights of and individual. More so, upholding of the Rule of Law based on the ground of constitutionalism is a clear manifestation of the democratic governance. The burdens of ascertaining theses democratic ethos rely solely on the constituted election management body known as Independent National Electoral Commission (INEC) for the case of Nigeria. This body is however, saddled with the responsibility of organizing and conducting periodic regular credible election known as free and fair election. The body also, is expected to be neutral, and independent to ensure fair treatment to all. It is on the basis of this fair treatment that credible leaders emerged. To this end, the paper examines the powers, functions and features of Independent National Electoral Commission. More so, the concepts of election and democracy have been operationalized. It is obvious that electoral process in Nigeria is marred with series of problems of which the paper identified and solutions were proffered towards credible, free and fair elections for sustainable democratic governance. In order to succinctly discuss and analyze the issues at stake, Structural Functional Analysis theory is adopted as a theoretical frame work for the paper.

Keywords: election, electoral commission, democracy, governance

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Authors: Max Plotnikov, Arkadius Schier

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To counteract climate change, the European Commission adopted the European Green Deal (EDG) in 2019. Some of the main objectives of the EDG are climate neutrality by 2050, decarbonization, sustainable mobility, and the shift from a linear economy to a circular economy in the European Union. The mobility turnaround envisages, among other things, the switch from classic internal combustion vehicles to electromobility. The aforementioned goals are therefore accompanied by increased demand for lithium-ion batteries (LIBs) and the associated logistics. However, this inevitably gives rise to challenges that need to be addressed. Depending on whether the LIB is transported by road, rail, air, or sea, there are different regulatory frameworks in the European Union that relevant players in the value chain must adhere to. LIBs are classified as Dangerous Goods Class 9, and against this backdrop, there are various restrictions that need to be adhered to when transporting them for various actors. Currently, the exchange of information in the value chain between the various actors is almost entirely paper-based. Especially in the transport of dangerous goods, this often leads to a delay in the transport or to incorrect data. The exchange of information with the authorities is particularly essential in this context. A solution for the digital exchange of information is currently being developed. Electronic freight transport information (eFTI) enables fast and secure exchange of information between the players in the freight transport process. This concept is to be used within the supply chain from 2025. Another initiative that is expected to improve the monitoring of LIB in this context, among other things, is the battery pass. In July 2023, the latest battery regulation was adopted in the Official Journal of the European Union. This battery pass gives different actors static as well as dynamic information about the batteries depending on their access rights. This includes master data such as battery weight or battery category or information on the state of health or the number of negative events that the battery has experienced. The integration of the battery pass with the eFTI platform will be investigated for synergy effects in favor of the actors for battery transport.

Keywords: battery logistics, battery passport, data sharing, eFTI, sustainability

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Authors: Isaias Teklia Berhe

Abstract:

A decision that deals with international disputes, be it arbitral or judicial, has to properly reflect objectivity and coherence with existing rules of international law. This paper shows the decision of the Ethio-Eritrea Claims Commission on the jus ad bellum case is bereft of objectivity and coherence, which contributed a disservice to international law on many aspects. The Commission’s decision that holds Eritrea in contravention to Art 2(4) of the UN Charter based on Ethiopia’s contention is flawed. It fails to consider: the illegitimacy of an actual authority established over contested territory through hostile acts, the proper determination of effectivites under international law, the sanctity of colonially determined boundaries, Ethiopia’s prior firm political recognition and undergirds to respect colonial boundary, and Ethio-Eritrea Border Commission’s decision. The paper will also argue that the Commission confused Eritrea’s right of self-defense with the rule against the non-use of force to settle territorial disputes; wherefore its decision sanitizes or sterilizes unlawful change of territory resulted through unlawful use of force to the effect of advantaging aggressions. The paper likewise argues that the decision is so sacrilegious that it disregards the ossified legal finality of colonial boundaries. Moreover, its approach toward armed attack does not reflect the peculiarity of the jus ad bellum case rather it brings about definitional uncertainties and sustains the perception that the law on self-defense is unsettled.

Keywords: armed attack, Eritrea, Ethiopia, self-defense, territorial integrity, use of force

Procedia PDF Downloads 255

Authors: S. Di Benedetto, M. P. Di Donato, A. Rispoli, S. Cardone, J. Riehmer, J. Steelant, L. Vecchione

Abstract:

Thanks to a coordinated funding by the European Space Agency (ESA) and the European Commission (EC) within the 7th framework program, the High-Speed Experimental Fly Vehicles – International (HEXAFLY-INT) project is aimed at the flight validation of hypersonics technologies enabling future trans-atmospheric flights. The project, which is currently involving partners from Europe, Russian Federation and Australia operating under ESA/ESTEC coordination, will achieve the goal of designing, manufacturing, assembling and flight testing an unpowered high speed vehicle in a glider configuration by 2018. The main technical challenges of the project are specifically related to the design of the vehicle gliding configuration and to the complexity of integrating breakthrough technologies with standard aeronautical technologies, e.g. high temperature protection system and airframe cold structures. Also, the sonic boom impact, which is one of the environmental challenges of the high speed flight, will be assessed. This paper provides a comprehensive and detailed update on all the current projects activities carried out to date on both the vehicle and mission design.

Keywords: design, flight testing, HEXAFLY-INT, hypersonics

Procedia PDF Downloads 437

Authors: Yuri Nikitin, Veronika Rukas

Abstract:

Within the framework of the FP7 project "START" the cooperation with European research centres has had a positive impact on raising the level of innovation researches and the introduction of innovations Institute for Super hard Materials of the National Academy of Sciences (ISM NAS) of Ukraine in the economy of Europe and Ukraine, which in turn permits to speeds up the way for Ukrainian science to the European research area through the creation in Ukraine the scientific organizations of innovative type.

Keywords: programs of the EU, innovative scientific results, innovation competence of the staff, commercialization in business of industry of the Europe and Ukraine

Procedia PDF Downloads 295

Authors: Jacolien Barnard, Corlia Van Heerden

Abstract:

Effective and accessible consensual dispute resolution and in particular alternative dispute resolution, are central to consumer protection legislation. In this regard, the Consumer Protection Act 68 of 2008 (CPA) of South Africa is no exception. Due to the nature of consumer disputes, alternative dispute resolution (in theory) is an effective vehicle for the adjudication of disputes in a timely manner avoiding overburdening of the courts. The CPA sets down as one of its core purposes the provision of ‘an accessible, consistent, harmonized, effective and efficient system of redress for consumers’ (section 3(1)(h) of the CPA). Section 69 of the Act provides for the enforcement of consumer rights and provides for the National Consumer Commission to be the Central Authority which streamlines, adjudicates and channels disputes to the appropriate forums which include Alternative Dispute Resolution Agents (ADR-agents). The purpose of this paper is to analyze the regulation of these enforcement and redress mechanisms with particular focus on the Central Authority as well as the ADR-agents and their crucial role in successful and efficient adjudication of disputes in South Africa. The South African position will be discussed comparatively with the European Union (EU) position. In this regard, the European Union (EU) Directive on Alternative Dispute Resolution for Consumer Disputes (2013/11/EU) will be discussed (The ADR Directive). The aim of the ADR Directive is to solve contractual disputes between consumers and traders (suppliers or businesses) regardless of whether the agreement was concluded offline or online or whether or not the trader is situated in another member state (Recitals 4-6). The ADR Directive provides for a set of quality requirements that an ADR body or entity tasked with resolving consumer disputes should adhere to in member states which include regulatory mechanisms for control. Transparency, effectiveness, fairness, liberty and legality are all requirements for a successful ADR body and discussed within this chapter III of the Directive. Chapters III and IV govern the importance of information and co-operation. This includes information between ADR bodies and the European Commission (EC) but also between ADR bodies or entities and national authorities enforcing legal acts on consumer protection and traders. (In South Africa the National Consumer Tribunal, Provincial Consumer Protectors and Industry ombuds come to mind). All of which have a responsibility to keep consumers informed. Ultimately the papers aims to provide recommendations as to the successfulness of the current South African position in light of the comparative position in Europe and the highlight the importance of proper regulation of these redress and enforcement institutions.

Keywords: alternative dispute resolution, consumer protection law, enforcement, redress

Procedia PDF Downloads 187