Search results for: human capital theory.

Authors: Shoji Katagiri, Hugang Han

Abstract:

This paper clarifies the role of ICT capital in economic growth. Albeit ICT remarkably contributes to economic growth, there are few studies on ICT capital in ICT sector from theoretical point of view. In this paper, production function of ICT which is used as input of intermediate good in final good and ICT sectors is incorporated into our model. In this setting, we analyze the role of ICT on balance growth path and show the possibility of general equilibrium solutions for this model. Through the simulation of the equilibrium solutions, we find that when ICT impacts on economy and economic growth increases, it is necessary that increases of efficiency at ICT sector and of accumulation of non-ICT and ICT capitals occur simultaneously.

Keywords: Endogenous economic growth, ICT, intensity, capital accumulation.

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Authors: Yolanda Ramírez, Ángel Tejada, Agustín Baidez

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In the higher education setting, there is a current trend in society toward greater openness and transparency. The economic, social and political changes that have occurred in recent years in public sector universities (particularly the New Public Management, the Bologna Process and the emergence of the “third mission”) call for a wider disclosure of value created by universities to support fundraising activities, to ensure accountability in the use of public funds and the outcomes of research and teaching, as well as close relationships with industries and territories. The paper has two purposes: 1) to explore the intellectual capital (IC) disclosure in Spanish universities through their websites, and 2) to identify university profiles. This study applies a content analysis to analyze the institutional websites of Spanish public universities and a cluster analysis. The analysis reveals that Spanish universities’ website content usually relates to human capital, while structural and relational capitals are less widely disclosed. Our research identifies three behavioral profiles of Spanish universities with regard to the online disclosure of IC (universities more proactive, universities less proactive and universities adopt a middle position in this regard. The results can serve as encouragement to university managers to enhance online IC disclosure to meet the information needs of university stakeholders.

Keywords: Universities, intellectual capital, disclosure, Internet.

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Authors: Candice Moy, Damien Guirco, Thomas Boyle

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Intelligent technologies are increasingly facilitating sustainable water management strategies in Australia. While this innovation can present clear cost benefits to utilities through immediate leak detection and deference of capital costs, the impact of this technology on households is less distinct. By offering real-time engagement and detailed end-use consumption breakdowns, there is significant potential for demand reduction as a behavioural response to increased information. Despite this potential, passive implementation without well-planned residential engagement strategies is likely to result in a lost opportunity. This paper begins this research process by exploring the effect of smart water meters through the lens of three behaviour change theories. The Theory of Planned Behaviour (TPB), Belief Revision theory (BR) and Practice Theory emphasise different variables that can potentially influence and predict household water engagements. In acknowledging the strengths of each theory, the nuances and complexity of household water engagement can be recognised which can contribute to effective planning for residential smart meter engagement strategies.

Keywords: Behaviour, information, household, smart meters, water.

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Authors: Susan.Bandias

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This paper examines the role of telecommunications in sustainable development of urban, rural and remote communities in the Northern Territory of Australia through the theoretical lens of Social Capital. Social Capital is a relatively new construct and is rapidly gaining interest among policy makers, politicians and researchers as a means to both describe and understand social and economic development. Increasingly, the concept of Social Capital, as opposed to the traditional economic indicators, is seen as a more accurate measure of well-being. Whilst the essence of Social Capital is quality social relations, the concept intersects with telecommunications and Information Communications Technology (ICT) in a number of ways. The potential of ICT to disseminate information quickly, to reach vast numbers of people simultaneously and to include the previously excluded, is immense. However, the exact nature of the relationship is not clearly defined. This paper examines the nexus between social relations of mutual benefit, telecommunications access and sustainable development. A mixed methodological approach was used to test the hypothesis that No relationship exists between Social Capital and access to telecommunications services and facilities. Four communities, which included two urban, a rural and a remote Indigenous community in the Northern Territory of Australia are the focus of this research paper.

Keywords: Indigenous disadvantage, Social Capital, sustainable development, telecommunications.

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Authors: Solehah Yaacob

Abstract:

The study focuses on revisiting the effectiveness of Critical Thinking in human mind capability as a major faculty in human life. The tool used as a measurement of this knowledge ability consists of several processes including experience and education background. To emphasize the `Overview` concept, the researcher highlights two major aspects of philosophical approach, they are; Divine Revelation Concept and Modern Scientific Theory. The research compares between the both parties to introduce the Divine Revelation into Modern Scientific theory. An analytical and critical study of the both concepts become the methodology of the discussion.

Keywords: Critical thinking, knowledge, intellectual, language.

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Authors: Korbi Fakhri

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In this article, we have elaborated a study over the nature of financial intermediation in Islamic banks by comparison to those of conventional ones. We have found a striking difference between two kinds of intermediation. We tried, from another side, to study the relationship between the capital level and deficiency risk relying on econometric model, and we have obtained a positive and significant relation between the capital and the deficiency risk for the conventional banks. This means that when the capital of these banks increases, the deficiency risk increases as well. In return, since the Islamic banks are constrained to respect the Sharia Committee as well as customers’ demands that may, in certain contracts, choose to invest their capitals in projects they are interested in. These constraints have as effects to reduce the deficiency risk even when the capital increases.

Keywords: Conventional bank, deficiency risk, financial intermediation, Islamic bank.

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Authors: Chang Lee Shu-Jung, Mei-Se Chien, Chien-Chiang Lee, Hui-Ting Hu

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This paper applies recursive cointegration analysis to examine the dynamic changes in Feldstein-Horioka saving-investment (S-I) coefficients across China and the ASEAN-5 countries over time. To the extent that the S-I coefficients measure international capital mobility, the main empirical results are as follows. The recursive trace statistics show that the investment- savings nexus varies in these six countries. There is no cointegration between investment and savings in three countries (China, Malaysia, and Singapore), which means that the mobility of the capital markets in the three is high and that domestic investment in them will be financed by the global pool of capital. As to the other three countries (Indonesia, Thailand, and Philippines), there is cointegration between investment and savings for part of the sample period in the three, including before 2002 for Thailand, before 2001 for Indonesia, and before 2002 for Philippines. This shows these three countries achieved highly mobile and open capital markets later.

Keywords: Investment, savings, recursive cointegration test, ASEAN, China.

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Authors: Goh Yen Nee

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This research aimed to find out the determining factors for ISO 14001 EMS implementation among SMEs in Malaysia from the Resource based view. A cross-sectional approach using survey was conducted. A research model been proposed which comprises of ISO 14001 EMS implementation as the criterion variable while physical capital resources (i.e. environmental performance tracking and organizational infrastructures), human capital resources (i.e. top management commitment and support, training and education, employee empowerment and teamwork) and organizational capital resources (i.e. recognition and reward, organizational culture and organizational communication) as the explanatory variables. The research findings show that only environmental performance tracking, top management commitment and support and organizational culture are found to be positively and significantly associated with ISO 14001 EMS implementation. It is expected that this research will shed new knowledge and provide a base for future studies about the role played by firm-s internal resources.

Keywords: ISO 14001 Environmental Management System, Malaysia, Resource based view, SMEs

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Authors: Sunday. E. Ogundipe, Abiola Idowu, Lawrencia. O. Ogundipe

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This study examines the impact of working capital management on firms- performance and market value of the firms in Nigeria. A sample of fifty four non-financial quoted firms in Nigeria listed on the Nigeria Stock Exchange was used for this study. Data were collected from annual reports of the sampled firms for the period 1995-2009. This result shows there is a significant negative relationship between cash conversion cycle and market valuation and firm-s performance. It also shows that debt ratio is positively related to market valuation and negatively related firm-s performance. The findings confirm that there is a significant relationship between Market valuation, profitability and working capital component in line with previous studies. This mean that Nigeria firms should ensure adequate management of working capital especially cash conversion cycle components of account receivables, account payables and inventories, as efficiency working capital management is expected to contribute positively to the firms- market value.

Keywords: Cash Conversion Cycle, Firms' Performance, Market Valuation, Working Capital Management

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Authors: Meng Wang, Qi-rui Han

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Because of excellent properties, people has paid more attention to SPIHI algorithm, which is based on the traditional wavelet transformation theory, but it also has its shortcomings. Combined the progress in the present wavelet domain and the human's visual characteristics, we propose an improved algorithm based on human visual characteristics of SPIHT in the base of analysis of SPIHI algorithm. The experiment indicated that the coding speed and quality has been enhanced well compared to the original SPIHT algorithm, moreover improved the quality of the transmission cut off.

Keywords: Lifted wavelet transform, SPIHT, Human Visual Characteristics.

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Authors: K. Zigan

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Not with standing the importance of foreign highly skilled professionals for host economies, there is a paucity of research studies investigating the role of the corporate social context during the integration process. This research aims to address this paucity by exploring the role of social capital in the integration of foreign health professionals. It does so by using a qualitative research approach. In this pilot study the hospital sector forms this study-s sample and interviews were conducted with HR managers, foreign health professionals and external HR consultants. It was found that most of the participating hospitals had not established specific HR practices and had only partly linked the development of organisational social capital with a successful integration process. This research contributes, for example, to the HR literature on the integration of self-initiated expatriates by analysing the role of HRM in generating organisational social capital needed for a successful integration process.

Keywords: Corporate integration, hospitals, self-initiated expatriates, organisational social capital.

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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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Authors: I. Martins, A. Martins

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The European Union supports social and civil competencies as being a core element to develop sustainability of organizations, people and regions. These competencies are fundamental for the well-being of the community because they include interpersonal, intrapersonal as well as their civil, active and democratic participation in organizations. The combination of these competencies reveals the organizational socio-emotional maturity and allows relevant levels of performance. It also allows the development of various capitals, namely, human, structural, relational and social, with direct influence on performance. But along this path, the emotional aspect has not been valued as a capital, given that contemporary society is based on knowledge capital and is flooded with information viewed as a capital. The present study, based on the importance of these socio-emotional capitals, aims to show that the competencies of cooperation, interpersonal understanding, empathy, kindness, ability to listen, and tolerance, to mention a few, are strategic in consolidating knowledge within organizations. This implies that the humanizing processes, both inside and outside the organizations, are revitalized. The question is how to go about doing this and its implementation; as well as, where to begin and which guidelines to take on. These are the foci that guide the present study, bearing in mind the directions of the knowledge economy.

Keywords: Social competencies, civil competencies, humanizing, performance.

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Authors: Himanshu Dehra

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This paper presents a paradigm for characterization and checking of human noise behavior. The definitions of ‘Noise’ and ‘Noise Behavior’ are devised. The concept of characterization and examining of Noise Behavior is obtained from the proposed paradigm of Psychoacoustics. The measurement of human noise behavior is discussed through definitions of noise sources and noise measurements. The noise sources, noise measurement equations and noise filters are further illustrated through examples. The theory and significance of solar energy acoustics is presented for life and its activities. Human comfort and health are correlated with human brain through physiological responses and noise protection. Examples of heat stress, intense heat, sweating and evaporation are also enumerated.

Keywords: Human brain, noise behavior, noise characterization, noise filters, physiological responses, psychoacoustics.

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Authors: I Putu Eka N. Kencana, I Wayan Mertha

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As an entity of the tourism system, local communities were considered have better understanding of their region as well as influenced positively or negatively by the tourism activities in the region. This paper aimed to study role of community involvement in the development of ecotourism at Kintamani Bali from two perspectives of view, i.e. participation in the process of initiatives and participation in the utilizing the economic benefits of tourism. Thorough participation as an antecedent of social capital form, the sustainability of ecotourism at Kintamani could be expected.

Keywords: Community involvement, ecotourism, participation, social capital.

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Authors: Jadwiga R. Ziolkowska

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In this paper, a fuzzy algorithm and a fuzzy multicriteria decision framework are developed and used for a practical question of optimizing biofuels policy making. The methodological framework shows how to incorporate fuzzy set theory in a decision process of finding a sustainable biofuels policy among several policy options. Fuzzy set theory is used here as a tool to deal with uncertainties of decision environment, vagueness and ambiguities of policy objectives, subjectivities of human assessments and imprecise and incomplete information about the evaluated policy instruments.

Keywords: Fuzzy set theory, multi-criteria decision-makingsupport, uncertainties, policy making, biofuels

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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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Authors: Paitoon Kraipornsak

Abstract:

Government spending is categorized into consumption spending and capital spending. Three categories of private consumption are used: food consumption, nonfood consumption, and services consumption. The estimated model indicates substitution effects of government consumption spending on budget shares of private nonfood consumption and of government capital spending on budget share of private food consumption. However, the results do not indicate whether the negative effects of changes in the budget shares of the nonfood and the food consumption equates to reduce total private consumption. The concept of aggregate demand comprising consumption, investment, government spending (consumption spending and capital spending), export, and import are used to estimate their relationship by using the Vector Error Correction Mechanism. The study found no effect of government capital spending on either the private consumption or the growth of GDP while the government consumption spending has negative effect on the growth of GDP.

Keywords: Complementary effect, government capital spending, government consumption spending, private consumption on food, nonfood, and services, substitution effect, vector error correction mechanism.

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Authors: Margareta Ilkova, Petr Teply

Abstract:

The article deals with dividends and their distribution from investors from a theoretical point of view. Some studies try to analyzed the reaction of the market on the dividend announcement and found out the change of dividend policy is associated with abnormal returns around the dividend announcement date. Another researches directly questioned the investors about their dividend preference and beliefs. Investors want the dividend from many reasons (e.g. some of them explain the dividend preference by the existence of transaction cost; investors prefer the dividend today, because there is less risky; the managers have private information about the firm). The most controversial theory of dividend policy was developed by Modigliani and Miller (1961) who demonstrated that in the perfect and complete capital markets the dividend policy is irrelevant and the value of the company is independent of its payout policy. Nevertheless, in the real world the capital markets are imperfect, because of asymmetric information, transaction costs, incomplete contracting possibilities and taxes.

Keywords: dividend distribution, taxation, payout policy, investor, Modigliani and Miller theorem

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Authors: Ajay Gupta, Arvind Bhardwaj, Arun Kanda

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Dr Eliyahu Goldratt has done the pioneering work in the development of Theory of Constraints. Since then, many more researchers around the globe are working to enhance this body of knowledge. In this paper, an attempt has been made to compile the salient features of this theory from the work done by Goldratt and other researchers. This paper will provide a good starting point to the potential researchers interested to work in Theory of Constraints. The paper will also help the practicing managers by clarifying their concepts on the theory and will facilitate its successful implementation in their working areas.

Keywords: Drum-Buffer-Rope, Goldratt, ProductionScheduling, Theory of Constraints.

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Authors: H. Florianová, J. Nešleha

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Financial derivatives are considered to be risky investment instruments which could possibly bring another financial crisis. As prevention, European Union and its member states have released new legal acts adjusting this area of law in recent years. There have been several cases in history of capital markets worldwide where it was shown that legislature may affect behavior of subjects on capital markets. In our paper we analyze main events on selected European stock exchanges in order to apply them on three chosen markets - Czech capital market represented by Prague Stock Exchange, German capital market represented by Deutsche Börse and Polish capital market represented by Warsaw Stock Exchange. We follow time series of development of the sum of listed derivatives on these three stock exchanges in order to evaluate popularity of those exchanges. Afterwards we compare newly listed derivatives in relation to the speed of development of these exchanges. We also make a comparison between trends in derivatives and shares development. We explain how a legal regulation may affect situation on capital markets. If the regulation is too strict, potential investors or traders are not willing to undertake it and move to other markets. On the other hand, if the regulation is too vague, trading scandals occur and the market is not reliable from the prospect of potential investors or issuers. We see that making the regulation stricter usually discourages subjects to stay on the market immediately although making the regulation vaguer to interest more subjects is usually much slower process.

Keywords: Capital markets, financial derivatives, investors' behavior, regulation.

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Authors: L. Ngowi, N. H. Mvungi

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This paper critically examines the evolution of socio-technical systems theory, its practices, and challenges in system design and development. It examines concepts put forward by researchers focusing on the application of the theory in software engineering. There are various methods developed that use socio-technical concepts based on systems engineering without remarkable success. The main constraint is the large amount of data and inefficient techniques used in the application of the concepts in system engineering for developing time-bound systems and within a limited/controlled budget. This paper critically examines each of the methods, highlight bottlenecks and suggest the way forward. Since socio-technical systems theory only explains what to do, but not how doing it, hence engineers are not using the concept to save time, costs and reduce risks associated with new frameworks. Hence, a new framework, which can be considered as a practical approach is proposed that borrows concepts from soft systems method, agile systems development and object-oriented analysis and design to bridge the gap between theory and practice. The approach will enable the development of systems using socio-technical systems theory to attract/enable the system engineers/software developers to use socio-technical systems theory in building worthwhile information systems to avoid fragilities and hostilities in the work environment.

Keywords: Socio-technical systems, human centered design, software engineering, cognitive engineering, soft systems, systems engineering.

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Authors: Jindřiška Šedová, Miloš Šeda

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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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Authors: Haiyan Wang

Abstract:

Constuctivism learning theory lays emphasis on the learners' active learning, such as learning initiative, sociality and context. By analyzing the relationship between constructivism learning theory and learner autonomy, this paper explores how to cultivate learners' learner autonomy under the guidance of constructivism learning theory.

Keywords: Constructivism learning theory, learner autonomy, relationship, cultivation.

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Authors: Serkan Narlı, Ahmet Z. Ozcelik

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The theory of rough sets is generalized by using a filter. The filter is induced by binary relations and it is used to generalize the basic rough set concepts. The knowledge representations and processing of binary relations in the style of rough set theory are investigated.

Keywords: Rough set, fuzzy set, membership function, knowledge representation and processing, information theory

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Authors: Michael Harre, Terry Bossomaier, Ranqing Chu, Allan Snyder

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We introduce a novel approach to measuring how humans learn based on techniques from information theory and apply it to the oriental game of Go. We show that the total amount of information observable in human strategies, called the strategic information, remains constant for populations of players of differing skill levels for well studied patterns of play. This is despite the very large amount of knowledge required to progress from the recreational players at one end of our spectrum to the very best and most experienced players in the world at the other and is in contrast to the idea that having more knowledge might imply more 'certainty' in what move to play next. We show this is true for very local up to medium sized board patterns, across a variety of different moves using 80,000 game records. Consequences for theoretical and practical AI are outlined.

Keywords: Board Games, Cognitive Capacity, Decision Theory, Information Theory.

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Authors: Ģirts Brasliņš, Ilja Arefjevs, Nadežda Tarakanova

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The objective of countercyclical capital buffer is to encourage banks to build up buffers in good times that can be drawn down in bad times. The aim of the report is to assess such decisions by banks derived from three approaches. The approaches are the aggregate credit-to-GDP ratio, credit growth as well as banking sector profits. The approaches are implemented for Estonia, Latvia and Lithuania for the time period 2000-2012. The report compares three approaches and analyses their relevance to the Baltic States by testing the correlation between a growth in studied variables and a growth of corresponding gaps. Methods used in the empirical part of the report are econometric analysis as well as economic analysis, development indicators, relative and absolute indicators and other methods. The research outcome is a cross-Baltic comparison of two alternative approaches to establish or release a countercyclical capital buffer by banks and their implications for each Baltic country.

Keywords: Basel III, countercyclical capital buffer, banks, credit growth, Baltic States.

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Authors: Jan Newmarch

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With the increasing spread of computers and the internet among culturally, linguistically and geographically diverse communities, issues of internationalization and localization and becoming increasingly important. For some of the issues such as different scales for length and temperature, there is a well-developed measurement theory. For others such as date formats no such theory will be possible. This paper fills a gap by developing a measurement theory for a class of scales previously overlooked, based on discrete and interval-valued scales such as spanner and shoe sizes. The paper gives a theoretical foundation for a class of data representation problems.

Keywords: Data representation, internationalisation, localisation, measurement theory.

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Authors: Mona Taheri

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In this study, we examine multiple algebras and algebraic structures derived from them and by stating a theory on multiple algebras; we will show that the theory of multiple algebras is a natural extension of the theory of universal algebras. Also, we will treat equivalence relations on multiple algebras, for which the quotient constructed modulo them is a universal algebra and will study the basic relation and the fundamental algebra in question. In this study, by stating the characteristic theorem of multiple algebras, we show that the theory of multiple algebras is a natural extension of the theory of universal algebras.

Keywords: multiple algebras , universal algebras

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Authors: Jerome V. Cleofas

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Cyberspace has become a more viable arena for budding artists to share musical acts through digital forms. The increasing relevance of online communities has attracted scholars from various fields demonstrating its influence on social capital. This paper extends this understanding of social capital among Filipino music artists belonging to the SoundCloud Philippines Facebook Group. The study makes use of various qualitative data obtained from key-informant interviews and participant observation of online and physical encounters, analyzed using the case study approach. Soundcloud Philippines has over seven-hundred members and is composed of Filipino singers, instrumentalists, composers, arrangers, producers, multimedia artists and event managers. Group interactions are a mix of online encounters based on Facebook and SoundCloud and physical encounters through meet-ups and events. Benefits reaped from the community are informational, technical, instrumental, promotional, motivational and social support. Under the guidance of online group administrators, collaborative activities such as music productions, concerts and events transpire. Most conflicts and problems arising are resolved peacefully. Social capital in SoundCloud Philippines is mobilized through recognition, respect and reciprocity.

Keywords: Facebook, music artists, online communities, social capital.

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