Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 245

Search results for: Positive psychological capital

245 Meta-Analysis of the Impact of Positive Psychological Capital on Employees Outcomes: The Moderating Role of Tenure

Authors: Hyeondal Jeong, Yoonjung Baek

Abstract:

This research examines the effects of positive psychological capital (or PsyCap) on employee’s outcomes (satisfaction, commitment, organizational citizenship behavior, innovation behavior and individual creativity). This study conducted a meta-analysis of articles published in the Republic of Korea. As a result, positive psychological capital has a positive effect on the behavior of employees. Heterogeneity was identified among the studies included in the analysis and the context factors were analyzed; the study proposes contextual factors such as team tenure. The moderating effect of team tenure was not statistically significant. The implications were discussed based on the analysis results.

Keywords: Positive psychological capital, satisfaction, commitment, OCB, creativity, meta-analysis.

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244 Bail-in Capital: The New Box

Authors: Manu Krishnan, Phil Jacoby

Abstract:

In this paper, we discuss the paradigm shift in bank capital from the “gone concern" to the “going concern" mindset. We then propose a methodology for pricing a product of this shift called Contingent Capital Notes (“CoCos"). The Merton Model can determine a price for credit risk by using the firm-s equity value as a call option on those assets. Our pricing methodology for CoCos also uses the credit spread implied by the Merton Model in a subsequent derivative form created by John Hull et al . Here, a market implied asset volatility is calculated by using observed market CDS spreads. This implied asset volatility is then used to estimate the probability of triggering a predetermined “contingency event" given the distanceto- trigger (DTT). The paper then investigates the effect of varying DTTs and recovery assumptions on the CoCo yield. We conclude with an investment rationale.

Keywords: CoCo, Contingent capital, Bank Capital, Tier1 Capital

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243 The Influence of the Intellectual Capital on the Firms’ Market Value: A Study of Listed Firms in the Tehran Stock Exchange (TSE)

Authors: Bita Mashayekhi, Seyed Meisam Tabatabaie Nasab

Abstract:

Intellectual capital is one of the most valuable and important parts of the intangible assets of enterprises especially in knowledge-based enterprises. With respect to increasing gap between the market value and the book value of the companies, intellectual capital is one of the components that can be placed in this gap. This paper uses the value added efficiency of the three components, capital employed, human capital and structural capital, to measure the intellectual capital efficiency of Iranian industries groups, listed in the Tehran Stock Exchange (TSE), using a 8 years period data set from 2005 to 2012. In order to analyze the effect of intellectual capital on the market-to-book value ratio of the companies, the data set was divided into 10 industries, Banking, Pharmaceutical, Metals & Mineral Nonmetallic, Food, Computer, Building, Investments, Chemical, Cement and Automotive, and the panel data method was applied to estimating pooled OLS. The results exhibited that value added of capital employed has a positive significant relation with increasing market value in the industries, Banking, Metals & Mineral Nonmetallic, Food, Computer, Chemical and Cement, and also, showed that value added efficiency of structural capital has a positive significant relation with increasing market value in the Banking, Pharmaceutical and Computer industries groups. The results of the value added showed a negative relation with the Banking and Pharmaceutical industries groups and a positive relation with computer and Automotive industries groups. Among the studied industries, computer industry has placed the widest gap between the market value and book value in its intellectual capital.

Keywords: Capital Employed, Human Capital, Intellectual Capital, Market-to-Book Value, Structural Capital, Value Added Efficiency.

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242 The Relationship of Emotional Intelligence, Perceived Stress, Religious Coping with Psychological Distress among Afghan Students

Authors: Mustafa Jahanara

Abstract:

The aim of present research was to study of the relationship between emotional intelligence, perceived stress, positive religious coping with psychological distress to in a sample of undergraduate students in Polytechnic University in Kabul. One hundred and fifty-tow students (102 male, 50 female) were included in this study. All participants completed the Emotional Intelligence Scale (EIS), General Health Questionnaire (GHQ 12), Perceived Stress Scale (PSS-10), and the Brief RCOPE. The results revealed that EI was negatively associated with perceived stress and psychological distress. Also emotional intelligence was positively correlated with positive religious coping. Perceived stress was positive related with psychological distress and negatively correlated with positive religious coping. Eventually positive religious coping was significantly and negatively correlated with psychological distress. However, emotional intelligence and positive religious coping could influence on mental health.

Keywords: Emotional intelligence, perceived stress, positive religious coping, psychological distress.

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241 Optimism, Hope and Mental Health: Optimism, Hope, Psychological Well-Being and Psychological Distress among Students, University of Pune, India

Authors: Mustafa Jahanara

Abstract:

The purpose of the current study is to examine the relationships between hope, optimism and mental health (psychological well-being and psychological distress) among students. A total of 222 students (132 males and 90 females) at the University of Pune from India completed inventories Revision of the Life Orientation Test (LOT-R), the Trait Hope Scale (THS) and the Mental Health Inventory (MHI) that assessed their optimism, hope and psychological well-being and psychological distress. The results of the study showed that optimism and hope were significantly correlated with each other. Optimism is positively related to psychological well-being and optimism is negatively related to psychological distress. Also, hope was positively related to psychological well-being. However, the findings suggest that optimism and hope could influence on mental health.

Keywords: Hope, optimism, psychological distress, psychological well-being.

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240 Measurement of Intellectual Capital in an Algerian Company

Authors: S. Brahmi, S. Aitouche, M. D. Mouss

Abstract:

Every modern company should measure the value of its intellectual capital and to report to complement the traditional annual balance sheets. The purpose of this work is to measure the intellectual capital in an Algerian company (or production system) using the Weightless Wealth Tool Kit (WWTK). The results of the measurement of intellectual capital are supplemented by traditional financial ratios. The measurement was applied to the National Company of Wells Services (ENSP) in Hassi Messaoud city, in the south of Algeria. We calculated the intellectual capital (intangible resources) of the ENSP to help the organization to better capitalize on its potential of workers and their know-how. The intangible value of the ENSP is evaluated at 16,936,173,345 DA in 2015.

Keywords: Financial valuation, intangible capital, intellectual capital, intellectual capital measurement.

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239 Working Capital Efficiency and Firm Profitability – Nigeria and Kenya

Authors: Lucian J. Pitt

Abstract:

The primary purpose of this study is to understand the differences in the relationship between working capital management efficiency, working capital investment decisions and working capital finance decisions and the profitability of firms within the context of two African developing economies, Kenya and Nigeria. The study finds that there is a significant difference in the relationship between the firm’s profitability and the working capital variables which suggests different challenges for working capital management in each of these countries.

Keywords: Working Capital Management, Working Capital Investment, Working Capital Finance, Profitability, Cash Conversion Cycle.

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238 The Dialectical Unity of Capital and Non-Capital: The Role of Overpopulation in Popular Rebellion Today

Authors: Wim Dierckxsens, Andrés Piqueras

Abstract:

Throughout its history, Capital has established a decisive form of discrimination that has effectively strengthened its power against Labor: discrimination between an endogenous labor force (integrated, with certain guarantees and rights in the capitalist nexus) and an exogenous labor force (yet to be incorporated or incorporated as ‘heterochthonous’, without such guarantees and rights). We refer to the historical incorporation of the exogenous population from the non-capitalist to the capitalist nexus (with the consequent replaceability of the endogenous labor force) as absolute mobility.

The more possibilities Capital has of accessing a population in the non-capitalist nexus and of being able to incorporate it through absolute mobility into the capitalist nexus, the greater its unilaterality or class domination. In contrast, when these possibilities run dry, Capital is more inclined towards reformism or negotiation.

However, this absolute mobility has historically been combined with relative mobility of the labor force, which includes various processes of which labor force migration is a fundamental component.

This paper holds that both types of mobility are at the core of class struggles.

Keywords: Absolute mobility, capital-labor antagonism, relative mobility, substitutability.

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237 The Psychological Contract and the Readiness to Verbalize It in Financial Institutions in Poland

Authors: Anna Rogozińska-Pawełczyk

Abstract:

A psychological contract is an agreement between the employer and an employee that covers the parties’ informal and frequently non-verbalized obligations and expectations towards each other. The contract is a cognitive pattern-governing employee’s behaviour in the organization. A gap between employee’s expectations and the organizational reality may lead to difficult-to-solve conflicts or cause the employee to modify their behaviour towards organizational values and goals, if they are willing and ready to verbalize their expectations. The article discusses psychological contracts in the financial institutions in Poland. Its theoretical part outlines the types of psychological contracts in organizations (relational, transactional, and balanced) and shows the process of their verbalization. The purpose of the article is to present how the type of the psychological contract relates to employee’s readiness to verbalize it. The article ends with conclusions arising from the study.

Keywords: Customer contact staff in banks, employee expectations, financial institutions, mutual expectations, psychological contract, verbalization of the psychological contract.

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236 Determinants of Capital Structure in Malaysia Electrical and Electronic Sector

Authors: Mazila Md-Yusuf, Fauziah Mohamad Yunus, Nur Zahraatul Lail Md Supaat

Abstract:

Capital structure is one of the most important financial decisions in corporate financing strategy. It involves the choice of debt and equity level in financing a company-s operations. This study aims to investigate whether the capital structure choice of Malaysian electrical and electronic manufacturing companies that are listed in the Bursa Malaysia can be explained by factors that have been found by most studies as dominant determinants of capital structure (company size, profitability, asset tangibility, liquidity and growth). Using debt ratio as the proxy for capital structure and applying pooled ordinary least square multiple regression estimation, the results showed that on average, Malaysian electrical and electronic manufacturing companies used less debt in funding their business operations. The findings also showed that size and asset tangibility has a significant positive relationship with debt level, while liquidity has a negative significant relationship with leverage.

Keywords: Capital structure, capital structure theories, leverage, manufacturing companies.

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235 Angiographic Evaluation of ETT (Treadmill) Positive Patients in a Tertiary Care Hospital of Bangladesh

Authors: Syed Dawood Md. Taimur, Saidur Rahman Khan, Farzana Islam

Abstract:

To evaluate the factors which predetermine the coronary artery disease in patients having positive Exercise Tolerance Test (ETT) that is treadmill results and coronary artery findings. This descriptive study was conducted at Department of Cardiology, Ibrahim Cardiac Hospital & Research Institute, Dhaka, Bangladesh from 1st January, 2014 to 31st August, 2014. All patients who had done ETT (treadmill) for chest pain diagnosis were studied. One hundred and four patients underwent coronary angiogram after positive treadmill result. Patients were divided into two groups depending upon the angiographic findings, i.e. true positive and false positive. Positive treadmill test patients who have coronary artery involvement these are called true positive and who have no involvement they are called false positive group. Both groups were compared with each other. Out of 104 patients, 81 (77.9%) patients had true positive ETT and 23 (22.1%) patients had false positive ETT. The mean age of patients in positive ETT was 53.46± 8.06 years and male mean age was 53.63±8.36 years and female was 52.87±7.0 years. Sixty nine (85.19%) male patients and twelve (14.81%) female patients had true positive ETT, whereas 15 (65.21%) males and 8 (34.79%) females had false positive ETT, this was statistically significant (p<0.032) in the two groups (sex) in comparison of true and false positive ETT. The risk factors of these patients like diabetes mellitus, hypertension, dyslipidemia, family history and smoking were seen among these patients. Hypertensive patients having true positive which were statistically significant (p<0.004) and diabetic, dyslipidemic patients having true positive which were statistically significant (p<0.032 & 0.030).True positive patients had family history were 68(83.95%) and smoking were 52 (64.20%), where family history patients had statistically significant (p<0.017) between two groups of patients and smokers were significant (p<0.012). 46 true positive patients achieved THR which was not statistically significant (P<0.138) and 79 true patients had abnormal resting ECG whether it was significant (p<0.036). Amongst the vessels involvement the most common was LAD 55 (67.90 %) followed by LCX 42 (51.85%), RCA 36 (44.44%), and the LMCA was 9 (11.11%). 40 patients (49.38%) had SVD, 26 (30.10%) had DVD, 15(18.52%) had TVD and 23 had normal coronary arteries. It can be concluded that among the female patients who have positive ETT with normal resting ECG, who had achieved target heart rate are likely to have a false positive test result. Conversely male patients, resting abnormal ECG who had not achieved THR, symptom limited ETT, have a hypertension, diabetes, dyslipidemia, family history and smoking are likely to have a true positive treadmill test result.

Keywords: Exercise tolerance test, Coronary artery disease, Coronary angiography, True positive, False positive.

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234 Stability of a Special Class of Switched Positive Systems

Authors: Xiuyong Ding, Lan Shu, Xiu Liu

Abstract:

This paper is concerned with the existence of a linear copositive Lyapunov function(LCLF) for a special class of switched positive linear systems(SPLSs) composed of continuousand discrete-time subsystems. Firstly, by using system matrices, we construct a special kind of matrices in appropriate manner. Secondly, our results reveal that the Hurwitz stability of these matrices is equivalent to the existence of a common LCLF for arbitrary finite sets composed of continuous- and discrete-time positive linear timeinvariant( LTI) systems. Finally, a simple example is provided to illustrate the implication of our results.

Keywords: Linear co-positive Lyapunov functions, positive systems, switched systems.

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233 A Survey on Positive Real and Strictly Positive Real Scalar Transfer Functions

Authors: Mojtaba Hakimi-Moghaddam

Abstract:

Positive real and strictly positive real transfer functions are important concepts in the control theory. In this paper, the results of researches in these areas are summarized. Definitions together with their graphical interpretations are mentioned. The equivalent conditions in the frequency domain and state space representations are reviewed. Their equivalent electrical networks are explained. Also, a comprehensive discussion about a difference between behavior of real part of positive real and strictly positive real transfer functions in high frequencies is presented. Furthermore, several illustrative examples are given.

Keywords: Real rational transfer functions, positive realness property, strictly positive realness property, equivalent conditions.

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232 Using of Positive Psychotheraphy Narratives at School

Authors: Ali Eryılmaz

Abstract:

In this study, how affects the narrative of Positive Psychothreapy which is named “The Three Small Gold Statues "the adloescent-s perception is investigated The sample included 90 adolescents who were high school students. Firstly the narrative was read. Then three questions which were about the narrative were asked. The questions were: What kind of things did you recall what kind of results did you conculde, and also how could you use this narrative in your real life problems. Responds were analyzed by content analysis method. According to research findings the narrative had a great effect for adolescent perceptions, and also the tale could be used at school counselling programs.

Keywords: Narrative, Positive Psychotherapy, SchoolCounselling Programs

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231 On General Stability for Switched Positive Linear Systems with Bounded Time-varying Delays

Authors: Xiu Liu, Shouming Zhong, Xiuyong Ding

Abstract:

This paper focuses on the problem of a common linear copositive Lyapunov function(CLCLF) existence for discrete-time switched positive linear systems(SPLSs) with bounded time-varying delays. In particular, applying system matrices, a special class of matrices are constructed in an appropriate manner. Our results reveal that the existence of a common copositive Lyapunov function can be related to the Schur stability of such matrices. A simple example is provided to illustrate the implication of our results.

Keywords: Common linear co-positive Lyapunov functions, positive systems, switched systems, delays.

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230 The Use of Psychological Tests in Polish Organizations: Empirical Evidence

Authors: Milena Gojny-Zbierowska

Abstract:

In the last decades, psychological tests have been gaining in popularity as a method used for evaluating personnel, and they bring consulting companies solid profits rising by up to 10% each year. The market is offering a growing range of tools for the assessment of personality. Tests are used in organizations mainly in the recruitment and selection of staff. This paper is an attempt to initially diagnose the state of the use of psychological tests in Polish companies on the basis of empirical research.

Keywords: Psychological tests, personality, content analysis, NEO FFI, big five personality model.

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229 The Role of Person and his Psychological Portrait in Turkic Philosophy of Culture

Authors: ZH. D. Suleimenova, A.Tashagil, B. Amankulov

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The aim of this study the analysis of Turkic culture and their influence on personality. We also discussed the role of history in Turkic folk development. Thereby cultural and anthropological context of ancient Turkic sources reveal concept of the "person". In the article have been analyzed ethnical, cultural, ethnical philosophical content of the world conception of the ancient Turks.

Keywords: turkic civilization, turkic world, personality, psychological portrait

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228 The Study on the Relationship between Momentum Profits and Psychological Factors: Evidence from Taiwan

Authors: Chih-Hsiang Chang

Abstract:

This study provides insight into the effects of investor sentiment, excess optimism, overconfidence, the disposition effect, and herding formation on momentum profits. This study contributes to the field by providing a further examination of the relationship between psychological factors and momentum profits. The empirical results show that there is no evidence of significant momentum profits in Taiwan’s stock market. Additionally, investor sentiment in Taiwan’s stock market significantly influences its momentum profits.

Keywords: Momentum profits, psychological factors, herding formation, investor sentiment.

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227 Prevalence of Psychological Resistance to Voluntary Counselling and Testing of HIV/AIDS among Students of Tertiary Institutions in Kano State, Nigeria

Authors: A. S. Haruna

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The incessant discomfort for Voluntary Counselling and Testing (VCT) exhibited by students in some tertiary institutions in Kano State, Nigeria is capable of causing Psychological Resistance as well as jeopardizing the purpose of HIV intervention. This study investigated the Prevalence of Psychological Resistance to VCT of HIV/AIDS among students of tertiary institutions in the state. Two null hypotheses were postulated and tested. Cross- Sectional Survey Design was employed in which 1512 sample was selected from a student population of 104,841 following Stratified Random Sampling technique. A self-developed 20-item scale whose reliability coefficient is 0.83 was used for data collection. Data analyzed via Chi-square and t-test reveals a prevalence of 38% with males (Mean=0.34; SD=0.475) constituting 60% and females (Mean=0.45; SD=0.498) 40%. Also, the calculated chi-square and ttest were not significant at 0.05 as such the null hypotheses were upheld. Recommendation offered suggests the use of reinforcement and social support for students who patronize HIV/AIDS counselling.

Keywords: HIV/AIDS, Prevalence rate, Psychological Resistance, VCT.

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226 Aspects Regarding the Genesis of the City of Suceava, a Medieval Capital of Moldavia

Authors: Denis Câprâroiu

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The city of Suceava, one of the most important medieval capital of Moldova, owes its urban genesis to the power center established in its territory at the turn of the thirteenth and fourteenth centuries. Freed from the effective control exercised by the Emir Nogai through Alanians, the local center of power evolved as the main representative of the interests of indigenous people in relation to the Hungarian Angevin dinasty and to their representatives from Maramures. From this perspective, the political and military role of the settlement of Suceava was archeologically proved by the discovery of extensive fortifications, unrivaled in the first half of the XIVth century-s Moldavia. At the end of that century, voivod Peter I decides to move the capital of the state from Siret to Suceava. That option stimulated the development of the settlement on specific urban coordinates.

Keywords: Moldova, Suceava, voivod, capital.

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225 Difference in Psychological Well-Being Based On Comparison of Religions: A Case Study in Pekan District, Pahang, Malaysia

Authors: Amran Hassan, Fatimah Yusooff, Khadijah Alavi

Abstract:

The psychological well-being of a family is a subjective matter for evaluation, all the more when it involves the element of religions, whether Islam, Christianity, Buddhism or Hinduism. Each of these religions emphasises similar values and morals on family psychological well-being. This comparative study is specifically to determine the role of religion on family psychological well-being in Pekan district, Pahang, Malaysia. The study adopts a quantitative and qualitative mixed method design and considers a total of 412 samples of parents and children for the quantitative study, and 21 samples for the qualitative study. The quantitative study uses simple random sampling, whereas the qualitative sampling is purposive. The instrument for quantitative study is Ryff’s Psychological Well-being Scale and the qualitative study involves the construction of a guidelines protocol for in-depth interviews of respondents. The quantitative study uses the SPSS version .19 with One Way Anova, and the qualitative analysis is manual based on transcripts with specific codes and themes. The results show nonsignificance, that is, no significant difference among religions in all family psychological well-being constructs in the comparison of Islam, Christianity, Buddhism and Hinduism, thereby accepting a null hypothesis and rejecting an alternative hypothesis. The qualitative study supports the quantitative study, that is, all 21 respondents explain that no difference exists in psychological wellbeing in the comparison of teachings in all the religious mentioned. These implications may be used as guidelines for government and non-government bodies in considering religion as an important element in family psychological well-being in the long run. 

Keywords: Psychological well-being, comparison of religions, family, Malaysia.

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224 Impact of Positive Psychology Education and Interventions on Well-Being: A Study of Students Engaged in Pastoral Care

Authors: Inna R. Edara, Haw-Lin Wu

Abstract:

Positive psychology investigates human strengths and virtues and promotes well-being. Relying on this assumption, positive interventions have been continuously designed to build pleasure and happiness, joy and contentment, engagement and meaning, hope and optimism, satisfaction and gratitude, spirituality, and various other positive measures of well-being. In line with this model of positive psychology and interventions, this study investigated certain measures of well-being in a group of 45 students enrolled in an 18-week positive psychology course and simultaneously engaged in service-oriented interventions that they chose for themselves based on the course content and individual interests. Students’ well-being was measured at the beginning and end of the course. The well-being indicators included positive automatic thoughts, optimism and hope, satisfaction with life, and spirituality. A paired-samples t-test conducted to evaluate the impact of class content and service-oriented interventions on students’ scores of well-being indicators indicated statistically significant increase from pre-class to post-class scores. There were also significant gender differences in post-course well-being scores, with females having higher levels of well-being than males. A two-way between groups analysis of variance indicated a significant interaction effect of age by gender on the post-course well-being scores, with females in the age group of 56-65 having the highest scores of well-being in comparison to the males in the same age group. Regression analyses indicated that positive automatic thought significantly predicted hope and satisfaction with life in the pre-course analysis. In the post-course regression analysis, spiritual transcendence made a significant contribution to optimism, and positive automatic thought made a significant contribution to both hope and satisfaction with life. Finally, a significant test between pre-course and post-course regression coefficients indicated that the regression coefficients at pre-course were significantly different from post-course coefficients, suggesting that the positive psychology course and the interventions were helpful in raising the levels of well-being. The overall results suggest a substantial increase in the participants’ well-being scores after engaging in the positive-oriented interventions, implying a need for designing more positive interventions in education to promote well-being.  

Keywords: Hope, optimism, positive automatic thoughts, satisfaction with life, spirituality, well-being.

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223 Positive Solutions for Systems of Nonlinear Third-Order Differential Equations with p-Laplacian

Authors: Li Xiguang

Abstract:

In this paper, by constructing a special set and utilizing fixed point theory, we study the existence and multiplicity of the positive solutions for systems of nonlinear third-order differential equations with p-laplacian, which improve and generalize the result of related paper.

Keywords: p-Laplacian, cone, fixed point theorem, positive solution.

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222 Influence of Social-Psychological Training on Selected Features of University Students

Authors: Anežka Hamranová, Blandína Šramová, Katarína Fichnová

Abstract:

We presented results of research aimed on findings influence of social - psychological training (realized with students of Constantine the Philosopher University- future teachers within their undergraduate preparation) on the choice of intrapersonal and interpersonal features. After social- psychological training using Interpersonal Check List (ICL) we found out shift of behavior to more adaptive forms in categories, which are characterized by extroversive friendly behavior, willingness to cooperation, conformity regard to social situation, responsible and regardful behavior. Using State-Trait Anxiety Inventory (STAI) we found out the cut down of state anxiety and of trait anxiety. The report was processed within grants KEGA 3/5269/07 and VEGA 1/3675/06.

Keywords: Intrapersonal and interpersonal features, social -psychological training, social competences.

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221 The Links between Cardiovascular Risk and Psychological Wellbeing in Elderly

Authors: Laura Sapranaviciute-Zabazlajeva, Abdonas Tamosiunas, Dalia Luksiene, Dalia Virviciute

Abstract:

The cardiovascular diseases (CVD) is the leading cause of death in the EU, especially in the middle aged and elderly population. Psychological wellbeing (PWB) has been linked with better cardiovascular health and survival in the elderly. The aim of the study is to evaluate associations between CVD risk and PWB in middle-aged and elderly population. 10,940 middle aged and older Lithuanians of age 45-74 years, were invited to participate in the study. A study sample was a random and stratified by gender and age. In 2006-2008 7,087 responders participated in the survey, so the response rate was 64.8%. A follow-up study was conducted from 2006 till 2015. New CVD cases and deaths from CVD were evaluated using the Kaunas population-based CVD register and death register of Kaunas. Study results revealed that good PWB predicts longer life in female participants (Log Rank = 13.7, p < 0.001). In the fully adjusted model for socio-demographic, social and CVD risk factors, hazard ratio for CVD mortality risk was lower amongst women with good PWB (HR = 0.28, 95% CI 0.11-0.72), but not significantly for men. Our study concludes, that lower CVD mortality rates is being associated with better PWB in female aged 45-74 years.

Keywords: Psychological wellbeing, cardiovascular disease, elderly.

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220 Capital Accumulation and Unemployment in Namibia, Nigeria, and South Africa

Authors: Abubakar Dikko

Abstract:

The research investigates the causes of unemployment in Namibia, Nigeria and South Africa and the role of Capital Accumulation in reducing the unemployment profile of these economies as proposed by the post-Keynesian economics. This is conducted through extensive review of literature on the NAIRU models and focused on the post-Keynesian view of unemployment within the NAIRU framework. The NAIRU (non-accelerating inflation rate of unemployment) model has become a dominant framework used in macroeconomic analysis of unemployment. The study views the post-Keynesian economics arguments that capital accumulation is a major determinant of unemployment. Unemployment remains the fundamental socio-economic challenge facing African economies. It has been a burden to citizens of those economies. Namibia, Nigeria, and South Africa are great African nations battling with high unemployment rates. The high unemployment rate in the country led the citizens to chase away foreigners in the country claiming that they have taken away their jobs. The study proposes there is a strong relationship between capital accumulation and unemployment in Namibia, Nigeria, and South Africa, and capital accumulation is responsible for high unemployment rates in these countries. For the economies to achieve steady state level of employment and satisfactory level of economic growth and development, there is need for capital accumulation to take place. The countries in the study have been selected after a critical research and investigations. They are selected based on the following criteria; African economies with high unemployment rates above 15% and have about 40% of their workforce unemployed. This level of unemployment is the critical level of unemployment in Africa as expressed by International Labour Organization (ILO). And finally, the African countries experience a slow growth in their Gross fixed capital formation. Adequate statistical measures have been employed using a time-series analysis in the study and the results revealed that capital accumulation is the main driver of unemployment performance in the chosen African countries. An increase in the accumulation of capital causes unemployment to reduce significantly. The results of the research work will be useful and relevant to federal governments and ministries, departments and agencies (MDAs) of Namibia, Nigeria and South Africa to resolve the issue of high and persistent unemployment rates in their economies which are great burden that slows growth and development of developing economies. Also, the result can be useful to World Bank, African Development Bank and International Labour Organization (ILO) in their further research and studies on how to tackle unemployment in developing and emerging economies.

Keywords: Capital accumulation, NAIRU, post-Keynesian economics, unemployment.

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219 Reconsidering the Legitimacy of Capital Punishment in the Interpretation of the Human Right to Life in the Two Traditional Approaches

Authors: Yujie Zhang

Abstract:

There are debates around the legitimacy of capital punishment, i.e., whether death could serve as a proper execution in our legal system or not. Different arguments have been raised. However, none of them seem able to provide a determined answer to the issue; this results in a lack of instruction in the legal practice. This article, therefore, devotes itself to the effort to find such an answer. It takes the perspective of rights, through interpreting the concept of right to life, which capital punishment appears to be in confliction with in the two traditional approaches, to reveal a possibly best account of the right and its conclusion on capital punishment. However, this effort is not a normative one which focuses on what ought to be. It means the article does not try to work out which argument we should choose and solve the hot debate on whether capital punishment should be allowed or not. It, again, does not propose which perspective we should take to approach this issue or generally which account of right must be better; rather, it is more a thought experiment. It attempts to raise a new perspective to approach the issue of the legitimacy of capital punishment. Both its perspective and conclusion therefore are tentative: what if we view this issue in a way we have never tried before, for example the different accounts of right to life? In this sense, the perspective could be defied, while the conclusion could be rejected. Other perspectives and conclusions are also possible. Notwithstanding, this tentative perspective and account of the right still could not be denied from serving as a potential approach, since it does have the ability to provide us with a determined attitude toward capital punishment that is hard to achieve through existing arguments.

Keywords: Capital punishment, right to life, theories of rights, the choice theory.

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218 A Comparison of Exact and Heuristic Approaches to Capital Budgeting

Authors: Jindřiška Šedová, Miloš Šeda

Abstract:

This paper summarizes and compares approaches to solving the knapsack problem and its known application in capital budgeting. The first approach uses deterministic methods and can be applied to small-size tasks with a single constraint. We can also apply commercial software systems such as the GAMS modelling system. However, because of NP-completeness of the problem, more complex problem instances must be solved by means of heuristic techniques to achieve an approximation of the exact solution in a reasonable amount of time. We show the problem representation and parameter settings for a genetic algorithm framework.

Keywords: Capital budgeting, knapsack problem, GAMS, heuristic method, genetic algorithm.

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217 Intellectual Capital and Transparency in Universities: An Empirical Study

Authors: Yolanda Ramírez, Ángel Tejada, Agustín Baidez

Abstract:

This paper shows the general perceptions of Spanish university stakeholders in relation to the university’s annual reports and the adequacy and potential of intellectual capital reporting. To this end, a questionnaire was designed and sent to every member of the Social Councils of Spanish public universities. It was thought that these participants would provide a good example of the attitude of university stakeholders since they represent the different social groups connected with universities. From the results of this study we are in the position of confirming the need for universities to offer information on intellectual capital in their accounting information model.

Keywords: Intellectual capital, disclosure, stakeholders, universities, annual report.

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216 An Empirical Analysis of the Impact of Selected Macroeconomic Variables on Capital Formation in Libya (1970–2010)

Authors: Khaled Ramadan Elbeydi

Abstract:

This study is carried out to provide an insight into the analysis of the impact of selected macro-economic variables on gross fixed capital formation in Libya using annual data over the period (1970-2010). The importance of this study comes from the ability to show the relative important factors that impact the Libyan gross fixed capital formation. This understanding would give indications to decision makers on which policy they must focus to stimulate the economy. An Autoregressive Distributed Lag (ARDL) modeling process is employed to investigate the impact of the Gross Domestic Product, Monetary Base and Trade Openness on Gross Fixed Capital Formation in Libya. The results of this study reveal that there is an equilibrium relationship between capital formation and its determinants. The results also indicate that GDP and trade openness largely explain the pattern of capital formation in Libya. The findings and recommendations provide vital information relevant for policy formulation and implementation aimed to improve capital formation in Libya.

Keywords: ARDL, Bounds test, capital formation, Cointegration, Libya.

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