Search results for: global erea

Authors: S. K. Fasogbon, A. A. Asere

Abstract:

Depletion and hazardous gas emissions associated with fossil fuels have caused scientists and global attention to focus on the use of “alternative, eco-friendly substitutes for use in Compression Ignition Engines. In this work, biodiesel was produced by trans-esterification of soybean obtained from a Nigerian market using Sodium Hydroxide (NaOH) as a catalyst.” After the production, the physical properties (specific gravity to kinematic viscosity and net calorific value) of the Soybean-biodiesel produced and petrol diesel obtained from a filling station in Nigeria were determined, and these properties conform to conventional standards (ASTM). A cummins-6V-92TA DDEC diesel (Compression ignition, CI) engine was run on various biodiesel-petrol diesel blends (0/100, 10/90, 20/80, 30/70 and 40/60), the B20 (blend 20/80) was found to be the most satisfactory.

Keywords: Effects, Soybean, Methyl Ester, Performance, compression Ignition Engine.

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Authors: A. Borji, M. Hamidi

Abstract:

In this paper we examine the use of global texture analysis based approaches for the purpose of Persian font recognition in machine-printed document images. Most existing methods for font recognition make use of local typographical features and connected component analysis. However derivation of such features is not an easy task. Gabor filters are appropriate tools for texture analysis and are motivated by human visual system. Here we consider document images as textures and use Gabor filter responses for identifying the fonts. The method is content independent and involves no local feature analysis. Two different classifiers Weighted Euclidean Distance and SVM are used for the purpose of classification. Experiments on seven different type faces and four font styles show average accuracy of 85% with WED and 82% with SVM classifier over typefaces

Keywords: Persian font recognition, support vector machine, gabor filter.

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Authors: Kankesu Jayanthakumaran, Shao-Wei Lee

Abstract:

This paper proposes the hypothesis that multilateralism and regionalism are complementary, and that regional income convergence is likely with a like minded and committed regionalism that often has links geographically and culturally. The association between international trade, income per capita, and regional income convergence in founder members of ASEAN and SAARC, is explored by applying the Lumsdaine, and Papell approach. The causal relationships between the above variables are also studied in respective trade blocs by using Granger causality tests. The conclusion is that global reforms have had a greater impact on increasing trade for both trade blocs and induced convergence only in ASEAN-5 countries. The experience of ASEAN countries shows a two-way causal relationship between the flow from trade to regional income convergence, and vice versa. There is no evidence in SAARC countries for income convergence and causality.

Keywords: ASEAN-5, SAARC-5, trade liberalisation, incomeconvergence, structural breaks and causality.

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Authors: Chein-Shung Hwang, Ruei-Siang Fong

Abstract:

User-based Collaborative filtering (CF), one of the most prevailing and efficient recommendation techniques, provides personalized recommendations to users based on the opinions of other users. Although the CF technique has been successfully applied in various applications, it suffers from serious sparsity problems. The cloud-model approach addresses the sparsity problems by constructing the user-s global preference represented by a cloud eigenvector. The user-based CF approach works well with dense datasets while the cloud-model CF approach has a greater performance when the dataset is sparse. In this paper, we present a hybrid approach that integrates the predictions from both the user-based CF and the cloud-model CF approaches. The experimental results show that the proposed hybrid approach can ameliorate the sparsity problem and provide an improved prediction quality.

Keywords: Cloud model, Collaborative filtering, Hybridrecommender system

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Authors: J. Ruiz-Pinales, J. J. Acosta-Reyes, A. Salazar-Garibay, R. Jaime-Rivas

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In this paper, we present a new method for incorporating global shift invariance in support vector machines. Unlike other approaches which incorporate a feature extraction stage, we first scale the image and then classify it by using the modified support vector machines classifier. Shift invariance is achieved by replacing dot products between patterns used by the SVM classifier with the maximum cross-correlation value between them. Unlike the normal approach, in which the patterns are treated as vectors, in our approach the patterns are treated as matrices (or images). Crosscorrelation is computed by using computationally efficient techniques such as the fast Fourier transform. The method has been tested on the ORL face database. The tests indicate that this method can improve the recognition rate of an SVM classifier.

Keywords: Face recognition, support vector machines, shiftinvariance, image registration.

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Authors: Yin Jie, Qin Qiming, Yin Yong

Abstract:

As a tool for human spatial cognition and thinking, the map has been playing an important role. Maps are perhaps as fundamental to society as language and the written word. Economic and social development requires extensive and in-depth understanding of their own living environment, from the scope of the overall global to urban housing. This has brought unprecedented opportunities and challenges for traditional cartography . This paper first proposed the concept of scaleless-map and its basic characteristics, through the analysis of the existing multi-scale representation techniques. Then some strategies are presented for automated mapping compilation. Taking into account the demand of automated map compilation, detailed proposed the software - WJ workstation must have four technical features, which are generalization operators, symbol primitives, dynamically annotation and mapping process template. This paper provides a more systematic new idea and solution to improve the intelligence and automation of the scaleless cartography.

Keywords: scaleless-map, strategy, map generalization, automated compilation, WJ workstation.

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Authors: Valeri Arghutashvili, Mari Gogochuri

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Tourism industry development is one of the key priorities in Georgia, as it has positive influence on economic activities. Its contribution is very important for the different regions, as well as for the national economy. Benefits of the tourism industry include new jobs, service development, and increasing tax revenues, etc. The main aim of this research is to review and analyze the potential of the Georgian tourism industry with its long-term strategy and current challenges. To plan activities in a long-term development, it is required to evaluate several factors on the regional and on the national level. Factors include activities, transportation, services, lodging facilities, infrastructure and institutions. The major research contributions are practical estimates about regional tourism development which plays an important role in the integration process with global markets.

Keywords: Regional tourism, tourism industry, tourism in Georgia, tourism benefits.

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Authors: Ibrahim F. Jasim, Najah F. Jasim

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The problem of controlling a two link robotic manipulator, consisting of a rotating and a prismatic links, is addressed. The actuations of both links are assumed to have unknown dead zone nonlinearities and friction torques modeled by LuGre friction model. Because of the existence of the unknown dead zone and friction torque at the actuations, unknown parameters and unmeasured states would appear to be part of the overall system dynamics that need for estimation. Unmeasured states observer, unknown parameters estimators, and robust adaptive control laws have been derived such that closed loop global stability is achieved. Simulation results have been performed to show the efficacy of the suggested approach.

Keywords: Adaptive Robust Control, Dead Zone, Friction Torques, Robotic Manipulators.

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Authors: W. Jay Gabbard, Saundra H. Starks, Jeremiah Jaggers, Amy C. Cappiccie

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An ethical mandate of the social work profession in the United States is that BSW and MSW graduates are sufficiently prepared to both understand diverse cultural values and beliefs and offer services that are culturally sensitive and relevant to clients. This skill set is particularly important for social workers in the 21st Century, given the increasing globalization of the U.S. and world. The purpose of this paper is to outline a pedagogical model for teaching cultural competency that resulted in a significant increase in cultural competency for MSW graduates at Western Kentucky University (WKU). More specifically, this model is predicated on five specific culturally sensitive principles and activities that were found to be highly effective in conveying culturally relevant knowledge and skills to MSW students at WKU. Future studies can assess the effectiveness of these principles in other MSW programs across the U.S. and abroad.

Keywords: Cultural Competence, Social Work, Teaching

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Authors: Erisasadat Sahebzamani, Núria Forcada, Francisco Lendinez

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Global climate change has become increasingly problematic over the past few decades. The construction industry has contributed to greenhouse gas emissions in recent decades. Considering these issues and the high demand for materials in the construction industry, Circular Economy (CE) is considered necessary to keep materials in the loop and extend their useful lives. By providing tangible benefits, Construction 4.0 facilitates the adoption of CE by reducing waste, updating standard work, sharing knowledge, and increasing transparency and stability. This study aims to present a framework for integrating CE and digital tools like Building Information Modeling (BIM) and Virtual Reality (VR) to examine the impact on the construction industry based on stakeholders' perspectives.

Keywords: Circular Economy, Building Information Modeling, Virtual Reality, stakeholder engagement.

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Authors: Amaral, António, Araújo, Madalena

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This paper seeks to give a general idea of the universe of project portfolio management, from its multidisciplinary nature, to the many challenges it raises, passing through the different techniques, models and tools used to solve the multiple problems known. It is intended to contribute to the clarification, with great depth, of the impacts and relationships involved in managing the projects- portfolio. It aims at proposing a technique for the project alignment with the organisational strategy, in order to select projects that later on will be considered in the analysis and selection of the portfolio. We consider the development of a methodology for assessing the project alignment index very relevant in the global market scenario. It can help organisations to gain a greater awareness of market dynamics, speed up the decision process and increase its consistency, thus enabling the strategic alignment and the improvement of the organisational performance.

Keywords: Project Portfolio Management Cycle, Project Portfolio Selection, Resource Assignment, Strategy Alignment technique

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Authors: G. H. Majzoob, B. Sharifi Hamadani

Abstract:

Mapping between local and global coordinates is an important issue in finite element method, as all calculations are performed in local coordinates. The concern arises when subparametric are used, in which the shape functions of the field variable and the geometry of the element are not the same. This is particularly the case for C* elements in which the extra degrees of freedoms added to the nodes make the elements sub-parametric. In the present work, transformation matrix for C1* (an 8-noded hexahedron element with 12 degrees of freedom at each node) is obtained using equivalent C0 elements (with the same number of degrees of freedom). The convergence rate of 8-noded C1* element is nearly equal to its equivalent C0 element, while it consumes less CPU time with respect to the C0 element. The existence of derivative degrees of freedom at the nodes of C1* element along with excellent convergence makes it superior compared with it equivalent C0 element.

Keywords: Mapping, Finite element method, C* elements, Convergence, C0 elements.

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Authors: Abdel-Samad M. Ali

Abstract:

Given the motivation of maps impact in enhancing the perception of the quality of life in a region, this work examines the use of spatial analytical techniques in exploring the role of space in shaping human development patterns in Assiut governorate. Variations of human development index (HDI) of the governorate-s villages, districts and cities are mapped using geographic information systems (GIS). Global and local spatial autocorrelation measures are employed to assess the levels of spatial dependency in the data and to map clusters of human development. Results show prominent disparities in HDI between regions of Assiut. Strong patterns of spatial association were found proving the presence of clusters on the distribution of HDI. Finally, the study indicates several "hot-spots" in the governorate to be area of more investigations to explore the attributes of such levels of human development. This is very important for accomplishing the development plan of poorest regions currently adopted in Egypt.

Keywords: Human development, Egypt, GIS, Spatial analysis.

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Authors: Masami Usui

Abstract:

Kazuo Ishiguro’s challenging novel, The Buried Giant, embodies how contemporary writers and readers have to discover the voices buried in our history. By avoiding setting or connecting the modern and contemporary historical incidents such as World War II this time, Ishiguro ventures into retelling myth, transfiguring historical facts, and revealing what has been forgotten in a process of establishing history and creating mythology. As generally known, modernist writers in the twentieth century employed materials from authorized classical mythologies, especially Greek mythology. As an heir of this tradition, Ishiguro imposes his mission of criticizing the repeatedly occurring yet easily-forgotten history of dictatorship and a slaughter on mythology based on King Arthur and its related heroes and myths in Britain. On an open ground, Ishiguro can start his own mythical story and space.

Keywords: English literature, fantasy, global literature, mythology.

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Authors: Mahsa Ja’fari, Mohammad R. Khosravi-Nikou, Mohsen Motavassel

Abstract:

A comprehensive development towards the production of ultra-clean fuels as a feed stoke is getting to raise due to the increasing use of diesel fuels and global air pollution. Production of environmental-friendly fuels can be achievable by some limited single methods and most integrated ones. Oxidative desulfurization (ODS) presents vast ranges of technologies possessing suitable characteristics with regard to the Fenton process. Using toluene as a model fuel feed with dibenzothiophene (DBT) as a sulfur compound under various operating conditions is the attempt of this study. The results showed that this oxidative process followed a pseudo-first order kinetics. Removal efficiency of 77.43% is attained under reaction time of 40 minutes with (Fe⁺²/H₂O₂) molar ratio of 0.05 in acidic pH environment. In this research, temperature of 50 °C represented the most influential role in proceeding the reaction.

Keywords: Design of experiment, dibenzothiophene, optimization, oxidative desulfurization.

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Authors: Ehsan Daryadel, Farhad Talaei

Abstract:

Wetlands are one of the most important ecosystems on Earth. Nevertheless, various challenges threaten these ecosystems and disrupt their ecological character. Among these, the effects of human-based threats are more devastating. Following mass degradation of wetlands during 1970s, the Ramsar Convention on Wetlands (Ramsar, Iran, 1971) was concluded to conserve wetlands of international importance and prevent destruction and degradation of such ecosystems through wise use of wetlands as a mean to achieve sustainable development in all over the world. Therefore, in this paper, efforts have been made to analyze threats to wetlands and then investigate solutions in the framework of the Ramsar Convention. Finally, in order to operate these mechanisms, this study concludes that all states should in turn make their best effort to improve and restore global wetlands through preservation of environmental standards and close contribution and also through taking joint measures with other states effectively.

Keywords: Ramsar Convention, Threats, Wetland Ecosystems, Wise Use.

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Authors: Urvi Shriram

Abstract:

The higher compounded growth rates coupled with favourable demographics in emerging markets portend abundant opportunities for multinational organizations. With many organizations competing for talent in these growing markets, their ability to succeed will depend on their understanding of local workforce needs and aspirations. Using data from the Towers Watson 2010 Global Workforce Study, this paper highlights differences in employee engagement, turnover risks, and attraction and retention drivers between the two markets. Apart from looking at the traditional drivers of employee engagement, the study also explores the value placed by employees on elements like a strong senior leadership, managerial capabilities and career advancement opportunities. Results reveal that emerging markets employees seem to be more engaged and value the non-traditional elements more highly than the developed markets employees.

Keywords: Attraction and retention drivers, emerging markets, employee engagement, turnover risk

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Authors: L. Sellami, D. Idoughi, P. F. Tiako

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Cloud computing provides infrastructure to the enterprise through the Internet allowing access to cloud services at anytime and anywhere. This pervasive aspect of the services, the distributed nature of data and the wide use of information make cloud computing vulnerable to intrusions that violate the security of the cloud. This requires the use of security mechanisms to detect malicious behavior in network communications and hosts such as intrusion detection systems (IDS). In this article, we focus on the detection of intrusion into the cloud sing IDSs. We base ourselves on client authentication in the computing cloud. This technique allows to detect the abnormal use of ubiquitous service and prevents the intrusion of cloud computing. This is an approach based on client authentication data. Our IDS provides intrusion detection inside and outside cloud computing network. It is a double protection approach: The security user node and the global security cloud computing.

Keywords: Cloud computing, intrusion detection system, privacy, trust.

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Authors: Jianlin Li, Jizhen Li

Abstract:

Transnational corporations (TNCs) are playing a major role in global R&D, not only through activities in their home countries but also increasingly abroad. However, the process of R&D offshoring is not yet discussed thoroughly. Based on in-depth case study on Agilent China Communications Operation, this paper presents a stage model for theorizing the R&D offshoring process. This stage model outlines 5 maturity levels of organization and the offshoring process: Subsidiary team, Mirror team, Independent team, Mirror sector and the Independent sector (from software engineering point of view, it is similar to the local team's capability level of maturity model). Moreover, the paper gives a detailed discussion on the relevant characteristics, as well as the ability/responsibility of transfer, priorities and the corresponding organization structure. It also gives the characteristics and key points of different level-s R&D offshoring implementation using actual team practice.

Keywords: Internationalization of R&D, R&D offshoring process, Multinational Corporations, Organization Level.

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Authors: R. Alageswaran, S. Selvakumar, P. Neelamegam

Abstract:

Wireless Sensor Networks (WSN) are emerging because of the developments in wireless communication technology and miniaturization of the hardware. WSN consists of a large number of low-cost, low-power, multifunctional sensor nodes to monitor physical conditions, such as temperature, sound, vibration, pressure, motion, etc. The MAC protocol to be used in the sensor networks must be energy efficient and this should aim at conserving the energy during its operation. In this paper, with the focus of analyzing the MAC protocols used in wireless Adhoc networks to WSN, simulation experiments were conducted in Global Mobile Simulator (GloMoSim) software. Number of packets sent by regular nodes, and received by sink node in different deployment strategies, total energy spent, and the network life time have been chosen as the metric for comparison. From the results of simulation, it is evident that the IEEE 802.11 protocol performs better compared to CSMA and MACA protocols.

Keywords: CSMA, DCF, MACA, TelosB

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Authors: Mateus N. Esperança, Marcel O. Cerri, Alberto C. Badino

Abstract:

The performance of airlift bioreactors are closely related with their geometry, especially the gas-liquid separator design. In this study, the influence of the gas-liquid separator geometry on oxygen transfer and gas hold-up was evaluated in 10-L concentric-tube airlift bioreactor operating with distilled water and xanthan gum solution. The specific airflow rate (ɸ_AIR) exhibited the higher effect on the oxygen transfer coefficient (k_La) for both fluids. While the gas-liquid separator openness angle (α) and liquid volume fraction on the gas-liquid separator (V_GLS) have presented opposite effects on oxygen mass transfer, they affected negatively the global gas hold-up of distilled water system. The best degassing zone geometry corresponded to a 90° openness angle with 10% of the liquid on it.

Keywords: Airlift bioreactor, gas holdup, gas-liquid separator, oxygen transfer.

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Authors: Tatyana Boikova

Abstract:

The strong international competition as the factor of rising economic development efficiency should not turn into destructive force for models of social orientation. What result Europe received from the accelerated integration without a long transition period of the accepted countries. Correlative relationship between the research and development expenditure and labor productivity, inflation and the rate economy's growth of the USA and the euro zone, employment and gross value added between Old and New Europe is analyzed in this article. The article estimates the differences in economic growth of Old and New Europe. Correlation rate between cycles of the euro area and the countries of Central and the Eastern Europe very much differs, though some of these countries have high correlation as members of the Economic and Monetary Union. Besides, the majority of the countries of Central and the Eastern Europe does not correspond to criteria of an optimum currency area.

Keywords: endogenous economic growth, sustainability, competitiveness, economic development

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Authors: O. Hassoon, M. Tarfoui, A. El Malk

Abstract:

Fiber Bragg optic sensor is embedded in composite material to detect and monitor the damage that occurs in composite structures. In this paper, we deal with the mode-Ι delamination to determine the material strength to crack propagation, using the coupling mode theory and T-matrix method to simulate the FBGs spectrum for both uniform and non-uniform strain distribution. The double cantilever beam test is modeled in FEM to determine the longitudinal strain. Two models are implemented, the first is the global half model, and the second is the sub-model to represent the FBGs with higher refined mesh. This method can simulate damage in composite structures and converting strain to a wavelength shifting in the FBG spectrum.

Keywords: Fiber Bragg grating, Delamination detection, DCB, FBG spectrum, Structure health monitoring.

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Authors: Qiong Yao, Wei Wei

Abstract:

Gated community has gained its dominant in residential areas development that it has become the standard development pattern of the newly built residential areas in contemporary China. The form of gated community has its own advantages and rationality that meet the needs of quite a lot of residents, but it-s also believed by researchers that the form has great damage to the urban morphology and development, and has a negative impact on residents- living style. However, there is still a considerable controversy of the origins and outcomes. Though recognized as a global phenomenon, gated community developed in China is greatly to do with the specific local forces, respect to the unique historical, political and socio-cultural momentums. A historical review of the traditional settlements in China and the trends that how Gated community has gained its contemporary form, is indispensable for comprehending the local forces, and provide a new perspective to solve the controversy.

Keywords: Gated community, Traditional form of settlements, modeling process.

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Authors: W. Schellong

Abstract:

Industry accounts for one-third of global final energy demand. Crossover technologies (e.g. motors, pumps, process heat, and air conditioning) play an important role in improving energy efficiency. These technologies are used in many applications independent of the production branch. Especially electrical power is used by drives, pumps, compressors, and lightning. The paper demonstrates the algorithm of the energy analysis by some selected case studies for typical industrial processes. The energy analysis represents an essential part of energy management systems (EMS). Generally, process control system (PCS) can support EMS. They provide information about the production process, and they organize the maintenance actions. Combining these tools into an integrated process allows the development of an energy critical equipment strategy. Thus, asset and energy management can use the same common data to improve the energy efficiency.

Keywords: Crossover technologies, data management, energy analysis, energy efficiency, process control.

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Authors: Fei Hao, Hai Wang

Abstract:

One of research issues in social network analysis is to evaluate the position/importance of users in social networks. As the information diffusion in social network is evolving, it seems difficult to evaluate the importance of users using traditional approaches. In this paper, we propose an evaluation approach for user importance with fractal view in social networks. In this approach, the global importance (Fractal Importance) and the local importance (Topological Importance) of nodes are considered. The basic idea is that the bigger the product of fractal importance and topological importance of a node is, the more important of the node is. We devise the algorithm called TFRank corresponding to the proposed approach. Finally, we evaluate TFRank by experiments. Experimental results demonstrate our TFRank has the high correlations with PageRank algorithm and potential ranking algorithm, and it shows the effectiveness and advantages of our approach.

Keywords: TFRank, Fractal Importance, Topological Importance, Social Network

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Authors: Yiorgos Hadjichristou

Abstract:

The paper will focus on the hybrid living typologies which are brought about due to the Global Crisis. Mixing of the generations and the groups of people, mingling the functions of living with working and socializing, merging the act of living in synergy with the urban realm and its constituent elements will be the springboard of proposing an essential sustainable housing approach and the respective urban development. The thematic will be based on methodologies developed both on the academic, educational environment including participation of students’ research and on the practical aspect of architecture including case studies executed by the author in the island of Cyprus. Both paths of the research will deal with the explorative understanding of the hybrid ways of living, testing the limits of its autonomy. The evolution of the living typologies into substantial hybrid entities, will deal with the understanding of new ways of living which include among others: re-introduction of natural phenomena, accommodation of the activity of work and services in the living realm, interchange of public and private, injections of communal events into the individual living territories. The issues and the binary questions raised by what is natural and artificial, what is private and what public, what is ephemeral and what permanent and all the in-between conditions are eloquently traced in the everyday life in the island. Additionally, given the situation of Cyprus with the eminent scar of the dividing ‘Green line’ and the waiting of the ‘ghost city’ of Famagusta to be resurrected, the conventional way of understanding the limits and the definitions of the properties is irreversibly shaken. The situation is further aggravated by the unprecedented phenomenon of the crisis on the island. All these observations set the premises of reexamining the urban development and the respective sustainable housing in a synergy where their characteristics start exchanging positions, merge into each other, contemporarily emerge and vanish, changing from permanent to ephemeral. This fluidity of conditions will attempt to render a future of the built- and unbuilt realm where the main focusing point will be redirected to the human and the social. Weather and social ritual scenographies together with ‘spontaneous urban landscapes’ of ‘momentary relationships’ will suggest a recipe for emerging urban environments and sustainable living. Thus, the paper will aim at opening a discourse on the future of the sustainable living merged in a sustainable urban development in relation to the imminent solution of the division of island, where the issue of property became the main obstacle to be overcome. At the same time, it will attempt to link this approach to the global need for a sustainable evolution of the urban and living realms.

Keywords: Social ritual scenographies, spontaneous urban landscapes, substantial hybrid entities, re-introduction of natural phenomena.

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Authors: J. Augutis, R. Krikstolaitis, L. Martisauskas

Abstract:

Recently global concerns for the energy security have steadily been on the increase and are expected to become a major issue over the next few decades. Energy security refers to a resilient energy system. This resilient system would be capable of withstanding threats through a combination of active, direct security measures and passive or more indirect measures such as redundancy, duplication of critical equipment, diversity in fuel, other sources of energy, and reliance on less vulnerable infrastructure. Threats and disruptions (disturbances) to one part of the energy system affect another. The paper presents methodology in theoretical background about energy system as an interconnected network and energy supply disturbances impact to the network. The proposed methodology uses a network flow approach to develop mathematical model of the energy system network as the system of nodes and arcs with energy flowing from node to node along paths in the network.

Keywords: Energy Security, Energy Supply Disturbances, Modeling of Energy System, Network Flow

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Authors: Reza Mollapourasl, Majid Haghi

Abstract:

In this study, we develop local meshfree methods known as radial basis function-generated finite difference (RBF-FD) method and Hermite finite difference (RBF-HFD) method to design stencil weights and spatial discretization for Helmholtz equation. The convergence and stability of schemes are investigated numerically in three dimensions with irregular shaped domain. These localized meshless methods incorporate the advantages of the RBF method, finite difference and Hermite finite difference methods to handle the ill-conditioning issue that often destroys the convergence rate of global RBF methods. Moreover, numerical illustrations show that the proposed localized RBF type methods are efficient and applicable for problems with complex geometries. The convergence and accuracy of both schemes are compared by solving a test problem.

Keywords: Radial basis functions, Hermite finite difference, Helmholtz equation, stability.

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Authors: Ketevan Kokrashvili, Rusudan Kutateladze, Nino Pailodze

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Importance of management of legal entities under private law of which especially corporate management, as well as looking for ways of its improvement and perfection has become especially relevant in the twenty-first century, which was greatly contributed to by the global economic crisis. Some states have adopted Corporate Governance Codes; the European Union has set to work on a series of directives the main purpose of which is an improvement of corporate governance, provision of greater transparency and implementation of an effective control mechanism. This process is not yet completed, and various problematic issues associated with management of legal persons are still being debated among practitioner experts and scholars. Georgia is not an exception in this regard. The article discusses the legislative gaps, and in some cases, discrepancies having arisen in legal relationships under private law and having caused many practical problems. This especially applies to the management of capital companies.

Keywords: Business entities, corporate management, public capital management, collective norms, existing problems, legal discrepancies.

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