Journal of Economic and Social Development

Articles

Vol. 4, No. 2, September

Corruption and Forms of Government
1.INTRODUCTION: THE NATURE OF CORRUPTIONCorruption may be used to indicate a particular concept, or it can take on the air of abuse. To be called 'corrupt' is definitely pejorative, and leads us to consider the nature of what we have come to call 'corruption'....
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A Theoretical Review of a Terminological Confusion:character, Identity, Image or Reputation?
1. INTRODUCTIONThe last few decades have witnessed significant growth in interest, conceptual development and empirical research in the topics of corporate identity, corporate image and corporate reputation (Abratt and Kleyn, 2012) in the scope of various...
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Aid Selectivity Practice and Aid Effectiveness in Sub-Saharan Africa
(ProQuest: ... denotes formulae omitted.)1.INTRODUCTIONIn theory, foreign aid is expected to serve as a means of transferring capital from developed economies to developing ones. By doing this, it is likely that aid would stimulate social and economic...
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Labour Productivity, Real Wages and Unemployment: An Application of Bounds Test Approach for Turkey
(ProQuest: ... denotes formulae omitted.)1.INTRODUCTIONThe relationship between productivity, real wages, and unemployment has been considered as one of the important issues in the economics literature. In macroeconomic perspective, with the effect of...
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Smart City Services Driven by Iot: A Systematic Review
1. INTRODUCTIONSince its very beginnings, information and communication technology has been reshaping our society. It introduced the changes in our private lives: how we interact with people and environment. Equally it impacted the way we are doing business...
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Architecture Impact in Improving the Quality of Services in Retail Pharmacies: Case Study Prishtina, Kosovo
1.INTRODUCTIONPharmaceutical sector in Kosovo is divided in public and private one. In the public sector central pharmacies operate in hospitals of 7 major cities - one tertiary care hospital and six secondary care hospitals, there also in some primary...
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Vol. 4, No. 1, 2017

An Investigation into the Significant Impacts of Automation in Asset Management
1.INTRODUCTION AND RESEARCH OBJECTIVESThe asset management industry presides over the strategic investment of wealth, by attempting to increase deposit values whilst additionally mitigating investment risks through the comprehensive identification of...
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Effect of Csr on Product Differentiation in the Presence of Cost Advantage
(ProQuest: ... denotes formulae omitted.)1.INTRODUCTIONIn recent times, Corporate Social Responsibility (CSR) has become an important part of corporate strategy. Many companies are establishing CSR as a separate functional area with its own objectives...
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The Case of Brexit: An Analysis of the Political and Economic Factors
(ProQuest: ... denotes formulae omitted.)1.INTRODUCTIONOn June the 23rd the people of the United Kingdom (further used: UK) delivered a powerful message to the entirety of the European Union (further used: EU) and to their own political establishment....
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Exploring International Tourism Trends in the Mediterranean: Convergence or Big Divergence
1.INTRODUCTIONAfter the post-WWII emergence of mass travel, the richness of the scenery of its coastal environment, its mild climate, and its impressive cultural heritage turned the Mediterranean into a significant tourist draw. The Mediterranean basin,...
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Assessment of Inter-Regional Convergence in the Social Welfare Based on the A. Sen Function: Russian Case Study
(ProQuest: ... denotes formulae omitted.)1.INTRODUCTIONThe inter-regional inequality in welfare is a phenomenon naturally occurring in countries with considerable spatial diversity in the resources provision and in the level of regional economic development....
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Development of Regions and Municipalities of the Slovak Republic by Application of European Cohesion Policy
1.INTRODUCTIONRegional policy is a strategic investment policy which focuses on all regions and cities in the European Union (hereinafter EU). By application and realization of the regional policy (also known as the Structural policy or the Cohesion...
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Ethical Issues in the Employment of Expatriate Leaders in Corporations
1. INTRODUCTIONAs trade barriers fall, enterprises and their leaders are moving across boundaries to take advantage of the opportunities offered by global trade. At the same time, in response to the continuous disclosure of poor and unethical decision...
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Corporate Governance in India: An Analysis
1. INTRODUCTIONCorporate governance defined as "the set of conditions that shapes the ex post bargaining over the quasi-rents generated by a firm."1Corporate governance has also been more narrowly defined as "a system of law and sound approaches by which...
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Vol. 3, No. 2, September

Investigating a Quality of Services in the Public Sector: Evidence from Northern Cyprus
1.INTRODUCTIONThe primary goal of the businesses is to reach high profit rates by providing high quality goods/services to the customers. Satisfying the expectations and needs of the customers is important in todays' dynamic business atmosphere since...
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An Alternative Approach to the Trade Dynamics in Croatia
(ProQuest: ... denotes formulae omitted.)1.INTRODUCTIONEmpirical research on the exchange rate, as one of the most important variable in the Croatian economy, is rather extensive. Since real effective exchange rate had been steadily appreciating after...
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Studying of Urban Movements through the Paradigms of Popular Geopolitics and Anti-Geopolitics
1. INTRODUCTIONThe paper studies some of the current developments connected with social movements from a critical stance, such as urban movements that are struggling against neoliberal capitalism and globalization1 as an agent of mainly neoliberal capitalism,...
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Challenge Funds and Inclusive Businesses - Key to Socio-Economic Development?
1.INTRODUCTION1.1. What is an enterprise challenge fund?An enterprise challenge fund is a relatively novel mechanism in the development sector which is used, and funded by, the public sector to achieve sustainable social and economic impact. The first...
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Impact of Oil Price on Turkish Macroeconomic Variables
(ProQuest: ... denotes formulae omitted.)1.INTRODUCTIONTurkish economy is heavily dependent on oil and natural gas, as the latest figures from International Energy Agency (IEA, 2015) show that Turkey imports 90% of its total liquid fuels. Therefore a...
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On Some Ideas for Improvement of Identification and Recording Gains/losses
1.INTRODUCTIONAccounting is the systematic and comprehensive recording of financial transactions for pertaining to a business. An accounting information system collects and processes transaction data and then disseminates the financial information to...
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A Seemingly Unrelated Regression Analysis on the Trading Behavior of Mutual Fund Investors
(ProQuest: ... denotes formulae omitted.)1. INTRODUCTIONThe behavioral difference between purchase and redemption of fund investors can provide valuable management implications for fund managers. It is beneficial to know investors' attitudes toward trading...
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The Relationship between Diversification Strategy and Firm Performance in Developed and Emerging Economy Contexts: Evidence from Turkey, Italy and Netherlands
(ProQuest: ... denotes formulae omitted.)1.INTRODUCTIONDiversification strategy can be defined as "Expanding or entering in new markets which are different from the firm's existing product lines or markets" (Jhonson and Scholes, 2002; Rumelt, 1982a)....
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Overview of the Obstacles and Facilitators of Learning and Acquiring Knowledge in Strategic Alliances - an Empirical Study
1.INTRODUCTIONFor the last few decades a number of various types of collaboration between independent firms have been growing steadily (Harbison & Pekar, 1998, Anand & Khanna, 2000), and many of these collaborations have been developed under...
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Impact of Corporate Governance and Firm-Level Control Variables on Dividend Policy of Service Trade Sector of Malaysia
1.INTRODUCTIONFinancial crisis of 1990s proved that the good and efficient corporate governance matters. Then the attention of various agencies operating in Asian countries, including Malaysia, has attracted towards this issue (Mohamad, 2007). This is...
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Vol. 3, No. 1, March

Demographic Variables Influencing Individual Entrepreneurial Orientation and Strategic Thinking Capability
"The most valuable 100 people to bring into a deteriorating society would not be economists, or politicians, or engineers, but rather 100 entrepreneurs" Abraham Maslow1. INTRODUCTIONThe research of entrepreneurial orientation is well established in literature....
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Cultural Tourism Experience on Customer Satisfaction: Evidence from Thailand
1. INTRODUCTIONCultural tourism has become a critical part in establishing the attractiveness of tourism destinations (Nolan and Nolan, 1992; Harrison, 1997; Prentice, 2001, Richards, 2002; McKercher et al., 2005). According to Richards (1997), cultural...
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An American-Based Study Examining the Relationship between Participants' Demographic Profiles and Attitudes regarding Business Outsourcing Techniques and Strategies
1. INTRODUCTIONDeciding to outsource a company's products or services offshore to another country is not a casual decision for any business to make. Furthermore, these offshore operational decisions pose challenges for company executives, employees,...
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The Influence of the Size of the Economy and European Integration on Foreign Direct Investments in the Central, Southeastern and Eastern European States 1994-2013
1. INTRODUCTIONThe relationship between foreign direct investment (FDI) and economic growth is a wellstudied subject in the development economics literature, both theoretically and empirically. The interest in the subject has also grown out of the substantial...
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What Should Estonia Do in Order to Increase the Value of Its Exports of Goods to Slovakia and Slovenia?
1. INTRODUCTIONIn recent years, entrepreneurship has become increasingly important (see Hisrich, 2010; Hisrich, Peters and Shepherd, 2010; and Schaper et al., 2013). This is particularly true for international entrepreneurship (see Zucchella and Scabini,...
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Application of Financial Ethics in Annual Financial Reporting of Banks
1. INTRODUCTIONContrary to the impression that it is only the public service that is heavily infested with corruption and inefficiency, the trend has since changed in Nigeria. The private sector of which the financial institutions constitute an integral...
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The Significance of Organisational Citizenship Behaviours for Talent Management - the Example of Polish Companies
1. INTRODUCTIONSearching for sources of development and ways to build competitive edge, contemporary enterprises are more and more often choosing intangible assets such as knowledge, relations or employees' behaviours. Apparently, the way employees behave...
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Corporate Governance and Corporate Social Responsibility Disclosure: Evidence from Saudi Arabia
1. INTRODUCTIONThe "business is business" culture has been prevalent for centuries. In 1924, Sheldon (1924) introduced the concept of "Corporate Social Responsibility" (CSR) for the first time in the business environment. Since that time, awareness across...
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Detecting Optimal Financial and Capital Structure: The Case of Small and Medium Enterprises (Sme) in Republic of Croatia
1. INTRODUCTIONCompanies use various sources in financing their operations. The basic classification of funding sources can be viewed from the aspect of ownership (internal and external) and from the aspect of maturity (long term and short term). Financing...
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The Configuration of Labor Market in Albania and Its Challenges
1. INTRODUCTIONIt is obviously to say that private sector remain the promoter of country's economic development. The economics agree with the fact that labor market is the main source that contributes in the economy growth (Kydland, 1995). But, the relationships...
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Effect of Corporate Governance Index on Dividend Policy: An Investigation of Textile Industry of Pakistan
1. INTRODUCTIONThe meaning of Corporate is a larger entity that is fall apart, and different from its owners. Corporation has a right to enter into contracts, take money from people to invest or lend money to people, it can take legal action against...
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Determinants of Intra-Industry Trade of the New Member States
(ProQuest: ... denotes formulae omitted.)1. INTRODUCTIONIntra-industry trade (IIT) defined as simultaneous export and import of similargoods produced in the same industries is an exchange of highly differentiated goods produced by manufacturing sectors...
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Does Foreign Trade Liberalization Reduce Poverty in Turkey?
(ProQuest: ... denotes formulae omitted.)1. INTRODUCTIONLiberalization of trade expresses the process of removing the direct and indirect barriers in front of international trade, increase in the foreign trade volume, foreign direct investments, and...
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Tmt Behaviour and Ways of Firm's Growth: Is There Any Connection?
1. INTRODUCTIONDynamic business environment drives firms towards practicing different growth strategies in order to successfully position themselves on the market. Growth strategies are concerned with increasing the size and viability of the business...
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What Firms Are Rewarded after Global Financial Crisis? the Role of Innovation and Globalization Strategies in Recovery
(ProQuest: ... denotes formula omitted.)1. INTRODUCTIONWhile studies of determinants of firms' growth always have been in the focus of both theoretical and empirical research, the Economic Crisis of 2008-2009 being a major shock to most of the countries...
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Vol. 2, No. 2, September

Eu Corporate Governance, Recent Trends and Developments, Related to Board Composition and Conflict of Interests
1. IntroductionThe 'Europe 2020' Communication2 calls for improvement of the business environment in Europe. An effective corporate governance framework is of key importance to society, as well-run companies are likely to be more competitive and more...
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Which Smes Perceive Access to Finance as an Obstacle to Their Operations? Evidence from Turkey
(ProQuest: ... denotes formulae omitted.)1. IntroductionSMEs are a central part of the economic fabric in almost all economies in the world. A thriving SME sector contributes to economic growth, entrepreneurial activity, job creation and innovation....
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How to Integrate Entrepreneurship Education and Creativity into a Bureaucratic Environment (Case Study)
1. IntroductionEurope's new companies alone, particularly small businesses, generate more than four million new jobs every year (European Commission, 2013). In response to the growing importance of these companies, the European Commission is taking action...
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When Abdul Meets David - Developing a Responsive Regulatory System for Islamic Financial Institutions: A Case Study of Australia
Executive summaryThe purpose of this paper was to identify the unmet regulatory needs of Islamic financial institutions in Australia and to develop policy options to cater to such unmet needs on the condition that no negative externalities were to incur...
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The Future of Social Policy in Europe: An Analysis of Atitudes toward Social Welfare
1. IntroductionOne of the tasks of social policy is to support the economic development to which it contributes, for instance by optimizing the relationship between the citizens and the labor market. Attitudes toward social welfare indicate how citizens...
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Relationship between Market Structure and Stability in the Banking Industry
(ProQuest: ... denotes formulae omitted.)1. IntroductionDuring the last decades, there is no banking industry in the world, which has not experienced a transition period as a consequence of deregulation, improvement in information technology, expansive...
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The Interdependence of GDP per Capita and Foreign Direct Investment in the Transitional Economies of Central and Eastern Europe
1. IntroductionAn important aspect of the former is the possibility of reintegration into Europe symbolised for many countries by prospective membership of the European Union (Grabbe, Hughes, 1998; Mayhew, 1998). Integration into the world economy, notably...
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Sustainability Reporting: Possible Ways of Rethninking Hospitality Accounting
1. IntroductionAccountability is the duty to provide information to stakeholders who have a right to it and an essential component of sustainability strategies. It is the information related to responsibility and is as much about what has not been done...
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Vol. 2, No. 1, March

Editorial
In the first number of the second year of publishing the Journal of Economic and Social Development we present the best quality papers from two Conferences on Economic and Social Development.The 7th International Scientific Conference on Economic and...
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Production Economics of Egyptian Cotton in the Salt-Affected Land
(ProQuest: ... denotes formulae omitted.)1. IntroductionWater is the natural resource that exerts the greatest constraint on Egypt's agricultural production system. Most of Egypt's cultivated lands depend on irrigation from Nile. However, Egypt's agriculture...
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Creativity and Entrepreneurship in Informational Metropolitan Regions
1. IntroductionMetropolitan regions have been gaining in importance for the economy. Thus, in this work we investigate if there is a correlation between indicators of creativity and entrepreneurship in informational metropolitan regions in order to ascertain...
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Innovation Climate as a Source of Competitive Advantage
1. IntroductionSudies show that there is a high correlation between business results and innovation (IFP, 2003). New products, either modifications or radically new products enable to capture new market or retain the existing market share (Tidd, 2006)....
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Social Media Usage in Banking Industry and Its Managerial View: Case Study for Mexican Banking System
1. IntroductionNew technologies based on the Internet, World Wide Web and wireless communications have changed the business world in 20th century. Being a basic platform of worldwide electronic business, the Internet has emerged as the world's major...
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Predicting Indicators at Small Scale Using Entropy Econometrics
(ProQuest: ... denotes formulae omitted.)1. IntroductionOne relatively frequent limitation for empirical economics is the lack of data available at an appropriate spatial scale. Although the target, in principle, would be to work at a smaller geographical...
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Shareholders Value and Catastrophe Bonds. an Event Study Analysis at European Level
(ProQuest: ... denotes formula omitted.)1. IntroductionSustainable economy and, implicitly, sustainable development are more and more influenced by the occurrence of large natural catastrophes as they pose important social and economic consequences both...
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The Role of External Shocks in Croatia: Block Exogeneity Svar Approach
(ProQuest: ... denotes formulae omitted.)1. IntroductionThe concept of small open economy has been a subject of research for decades (de Vries, 1973; Kuznets, 1960; Scitovsky, 1960), but a consensus on what characterises the small open economy still...
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Analysis of Tax Systems in Slovakia and Hungary
1. IntroductionTaxes are an important economic, financial, social and political tool of the state. Each state uses taxes as one of the most important sources of public budgets' revenues. In the literature we can meet various definitions of tax. As Siroký...
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Organizational Change Resistance: Experience from Public Sector
1. IntroductionIn the modern business environment, characterized by high level of uncertainty, dynamism and turbulence, change is the only constant. In these circumstances, the ability to adapt to change in the external, as well as initiating and implementing...
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Using Digital Frequencies to Detect Anomalies in Receivables and Payables: An Analysis of the Italian Universities
1. The institutional context of Italian universitiesThe art. 33 of the Italian Constitution entrusts to the law the power to lay down the general rules for education and to establish public schools for all orders and degrees. The same article recognizes...
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Vol. 1, No. 2, June

Audit Quality and Corporate Governance: Evidence from the Bucharest Stock Exchange
1. IntroductionCorporate governance is perceived as being a key-element in the capital market`s development. According to World Bank Report - Improving Corporate Governance in Emerging Markets (2011), good corporate governance reduces the emerging markets`...
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Does Inequality Harm Democracy? an Empirical Investigation on the UK
(ProQuest: ... denotes formulae omitted.)1. IntroductionIn western advanced economies the reduction in income inequality has been sharp and general since the 1st World War. Data for the period post WWII-1970s still support the Kuznet's vision of an inverse-U...
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Theoretical Overview of Microeconomic Aspects of Mergers and Acquisitions
1. IntroductionIn turbulent business environment of 21st century companies are forced to use different growth strategies in order to successfully position themselves with respect to competition and to preserve and increase their profit margins. Growth...
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The Relationship between Romanian Aviation Industry Turnover and National GDP
1. IntroductionOne of the main business function, on which this study is based on, is the marketing function. It ensures that the goods and services are delivered from the producer to the consumer by using market research, advertising, and most importantly...
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The Remittance Inflows' Impact on Savings in the Serbian Economy
1. IntroductionOver the past decade remittances to developing countries have significantly increased. Officially recorder remittances have reached around USD 401 billion in 2012 and are expected to reach USD 515 billions in 2015. They remain one of the...
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Dividends on Common and Preferred Shares: The Relationship with the Ownership Concentration in Russian Public Companies
(ProQuest: ... denotes formula omitted.)1. IntroductionThe growing attention to the agency problem and to the role of dividends in mitigating an agency problem is explained, in particular, by the growing number of corporate scandals related to violation...
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Effectiveness of Ecological Education and Awareness in Public Policy: Microeconomic Analysis of Regulation Effects at Regional Energy Market
(ProQuest: ... denotes formulae omitted.)1. IntroductionBeing a part of public policy environmental regulation is very sensible to efficiency matter. Its benefits sometimes are hardly to be measured and are hardly to be expected soon enough to be transmitted...
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The Restoration of Public Sector of Mexico through the Fiscal Policy and the Contemporary Economy
1. IntroductionThe recent financial and public debt crises in developed countries has resurfaced once again in the discussion about the role of public expenditure and the role of the state, because large sums of money should have gone to the productive...
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Relationship between Human Capital and Economic Growth Emphasizing Socialist and Oil-Producing Countries
(ProQuest: ... denotes formulae omitted.)1. IntroductionTheoretical and experimental studies have shown that human capital resource is also another main source for countries growth rate apart from their physical capital. Human capital includes different...
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What Information Technology Meant for Economic Prosperity of Usa, Japan and Germany?
(ProQuest: ... denotes formulae omitted.)1. IntroductionHistorical pattern of technological progress strongly suggests that innovations that sprouted from technological developments, which are independent of society initiatives, have been an indispensable...
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Vol. 1, No. 1, March

Editorial
Economic and social development is in the focus of interest of every contemporary society: equally in developed countries and also in countries which are still going in that direction. Therefore, it is not unusual that conferences dedicated to economic...
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The Impact of Tax Reforms on Government Revenue Generation in Nigeria
1. IntroductionNigeria is a nation with federal political structure that adheres strictly to the same principles of fiscal regime and this system has serious implications on how the tax system is managed. It is characterized by unnecessary complex, distortion...
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Saving the Euro: Creating Social Regional Currencies, Taxes on Financial Transactions, and Minimum Income Programs
(ProQuest: ... denotes formulae omitted.)1. IntroductionIn all the proposals that we have read so far to solve the European crisis, not one submitted what we believe to be an essential element: the creation of regional currencies, which we call social...
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Trade-Off Theory vs. Pecking Order Theory - Empirical Evidence from the Baltic Countries 3
(ProQuest: ... denotes formulae omitted.)1. IntroductionCapital structure is of particular importance in estimating the company value; an accurately estimated and selected equity and debt ratio can minimize the cost of capital and maximize the company...
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Analysis of Cross-Sector Differentiation during Strategy Formulation
1. IntroductionBusiness strategy is fundamental for an organization sucess in the highly-developed markets, therefore the development and execution of strategy represent the pivot of the business enterprise management and reflect the demands of the contemporary...
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Income Distribution and the Medium-Term Trend of Inequality in Thailand
1. IntroductionIncome distribution has become the central issue in Thailand. The unequal distribution between modern and agricultural sector still occurs. The government have tried to increase the wage accompany with the continuous operation of the income...
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The Effect of the Early Entrance to Job Market on the Health Status of the Brazilians in 2008
(ProQuest: ... denotes formulae omitted.)1. IntroductionAccording to the International Labor Organization (OIT, 2012), 215 million children work at present, of which about 50% act in derogatory activities. The early entrance of the child to the labor...
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Education for Successful Intercultural Communication and Cultural Intelligence
1. IntroductionThe competence for successful intercultural communication in global world is becoming increasingly important. Globalization has made the world seem smaller, our awareness of cultural diversity is rising and the need for effective intercultural...
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The Effect of Public Investment and Firm-Based Investment Incentives on Employment: A Panel Data Analysis for Turkey
1. IntroductionAlthough the effectiveness and the success of the public policies on private sector performance have been discussed since the earlier regional development policies, they still preserve their prominence in the development process of countries,...
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Citizens as Consumers: Profiling E-Government Services' Users in Egypt Via Data Mining Techniques
1. IntroductionOne of the most intractable problems for anyone dealing with government is the sheer complexity of its organizational structure. For example, it has been estimated that the average government has between 50 and 70 different departments,...
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Multinomial Logistic Analysis of "Susu" Contribution in Ghana
(ProQuest: ... denotes formulae omitted.)1. IntroductionFinancial exclusion among the poor but productive group of the Ghanaian economy has been a debilitating conundrum taxing the intellectual energy of policy makers in Ghana. The rigmarole lending...
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The Causality Relationships between Fdi and R&d in European Union
(ProQuest: ... denotes formulae omitted.)1. IntroductionNeoclassical growth theory which was developed under the leadership of Solow (1956) resulted in balanced growth. In the case of balanced growth, output per worker increases as much as technological...
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Making Decision in Company Dismissal Process
1. IntroductionIn its lifetime company goes through different stages or phases. All business entities tend to grow, develop or decrease through these phases in general. Growth represents increase of material and human resources of the company (business...
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Financial Instability of Enterprise as the Main Obstacle Hampering Development in Turbulent Environment
1. IntroductionThe concept of financial stability implies diagnosis of enterprise activity in the long term. The basis of the concept is division of analysis tools into two groups. The first group of financial sustainability indices operates with discrete...
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The Effect of Employee's Commitments on Customer's Loyalty Based on Transaction Cost
1. IntroductionAccording to national policy to push forward insurance policies, many people have experiences to interact with insurance agents for transportation or medicare insurances because of risks increase in the living environments. The interaction...
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Efficiency of Corporate International Diverisification: Evidence from Developing Countries
(ProQuest: ... denotes formulae omitted.)1. IntroductionDuring the last two decades the level of corporate international diversification (CID) has been significantly growing. As an example in 2003-2006 a number of cross-border M&A deals grew by 40%...
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The Prospects of International Acquisitions in Car Industry during the Global Economic Crisis - the Case of Geely Volvo
1. IntroductionThe globalization process, having been intensified over the last two decades, has had profound impact on the international business environment. One of the most important results of this process is the integration of national economies...
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International Position of Estonia in Implementing Research and Development Policy 3
1. IntroductionThe central role in innovation policy development is executed by research and development policy (R&D policy), which represents the major complex of public sector measures to initiate and promote innovation. The objective of the current...
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Board Diversity, Network and Firm Value
(ProQuest: ... denotes formulae omitted.)1. IntroductionIn a world of increasing globalization, where countries cooperate in order to create even larger economic communities, questions arise as to what are the most important characteristics in determining...
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