Abstract: Previous studies on financial distress prediction choose
the conventional failing and non-failing dichotomy; however, the
distressed extent differs substantially among different financial
distress events. To solve the problem, “non-distressed”, “slightlydistressed”
and “reorganization and bankruptcy” are used in our article
to approximate the continuum of corporate financial health. This paper
explains different financial distress events using the two-stage method.
First, this investigation adopts firm-specific financial ratios, corporate
governance and market factors to measure the probability of various
financial distress events based on multinomial logit models.
Specifically, the bootstrapping simulation is performed to examine the
difference of estimated misclassifying cost (EMC). Second, this work
further applies macroeconomic factors to establish the credit cycle
index and determines the distressed cut-off indicator of the two-stage
models using such index. Two different models, one-stage and
two-stage prediction models are developed to forecast financial
distress, and the results acquired from different models are compared
with each other, and with the collected data. The findings show that the
one-stage model has the lower misclassification error rate than the
two-stage model. The one-stage model is more accurate than the
two-stage model.
Abstract: This paper analyzes the political and economic issues
that people with disabilities face related to globalization; how people
with disabilities have been adapting globalization and surviving under
worldwide competition system. It explains that economic
globalization exacerbates inequality and deprivation of people with
disabilities. The rising tide of neo-liberal welfare policies emphasized
efficiency, downsized social expenditure for people with disabilities,
excluded people with disabilities against labor market, and shifted
them from welfare system to nothing. However, there have been
people with disabilities' political responses to globalization, which are
characterized by a global network of people with disabilities as well as
participation to global governance. Their resistance can be seen as an
attempt to tackle the problems that economic globalization has
produced. It is necessary paradigm shift of disability policy from
dependency represented by disability benefits to independency
represented by labor market policies for people with disabilities.
Abstract: Everyday life is and will be influenced depending on
the developments that society undergoes throughout the history.
Particularly, countries undergoing transition from one system to
another sustain the greatest impact in trying to embrace the modern
system. Kosovo society had the fortune to experience a change,
which began in late 1999 to continue up to date. One of the
'developments' of the time with the evolution in Kosovo society was
the transition from the traditional education system into the modern
one. This transformation began immediately after the war, to
continue even today. It was started by internationals, which governed
and administered Kosovo society, including education. There was a
great 'evolution', because almost the entire system was 'changed'.
Among other things, for the first time it was enabled the opening of
private schools from the lowest level up to the colleges and
universities. This paper will address: how much was ready the society
to embrace such a 'cultural' change in education, respectively, how
much were prepared teachers for such changes; as it was actually
thought to be a modern education system, how much was it according
to international standards; what are the results and current situation in
Kosovo education.
Abstract: The article discusses the legal framework of the
government’s environmental function and analyzes the role of the
national policy in protection of wetlands. The problem is of interest
for it deals with the most important branch of economy – utilization
of Kazakhstan’s natural resources, protection of health and
environmental wellbeing of the population. Development of a longterm
environmental program addressing the protection of wetlands
represents the final stage of the government’s environmental policy,
and is a relatively new function for the public administration system.
It appeared due to the environmental measures that require immediate
decisions to be taken. It is an integral part of the effort in the field of
management of state-owned natural resource, as well as of the
measures aimed at efficient management of natural resources to avoid
their early depletion or contamination.
Abstract: In the paper, information on economic development
trends in developed countries are analyzed. The current status of
information society and economy of the country is reviewed and
some recommendations are given for future development.
The problems of Information Society and establishment of its
innovative economy are studied. In this turn, development trends
information economy in developed countries are analyzed.
Abstract: Pedagogy has always been open to other disciplines
that reflect about the educational process (philosophy, sociology,
psychology, anthropology, technology, etc.). Its interdisciplinary
openness puts education, as the subject of pedagogy within a broader
context of the community, enabling the knowledge of other
disciplines to contribute to a better understanding of the fundamental
pedagogical notion of education. The purpose of pedagogy as a
science serves humans, strives towards humans, must be for humans,
and this is its ultimate goal. Humans are essentially dependent on
education, which is also considered as a category of humans’ being,
because through education an entire world develops in humans.
Anthropological assumptions of humans as "deficient beings" see the
solution in education, but they also indicate a wealth of shortcomings,
because they provide an opportunity for enrichment and formation of
culture, living and the self. In that context, this paper illustrates the
determination of pedagogy through an anthropological conception of
humans and the phenomenon of education. It presents a review of
anthropological ideas about education, by providing an analysis of
relevant literature dealing with the anthropological notion of humans,
which provides fruitful conditions for a pedagogical reconsideration
of education.
Abstract: Presently, it is necessary to ensure the sustainable
development of passenger and freight transport. Increasing
performance of road freight has had a negative impact to environment
and society. It is therefore necessary to increase the competitiveness
of intermodal transport, which is more environmentally friendly. The
study describes the effectiveness of logistical centers realization for
companies and society and research how the partial internalization of
external costs reflected in the efficient use of these centers and
increase the competitiveness of intermodal transport to road freight.
In our research, we use the method of comparative analysis and
market research to describe the advantages of logistic centers for their
users as well as for society as a whole. Method normal costing is used
for calculation infrastructure and total costs, method of conversion
costing for determine the external costs. We modelled total society
costs for road freight transport and inter modal transport chain (we
assumed that most of the traffic is carried by rail) with different
loading schemes for condition in the Slovak Republic. Our research
has shown that higher utilization of inter modal transport chain do
good not only for society, but for companies providing freight
services too. Increase in use of inter modal transport chain can bring
many benefits to society that do not bring direct immediate financial
return. They often bring the multiplier effects, such as greater use of
environmentally friendly transport mode and reduce the total society
costs.
Abstract: In this study, we compare the profiles of transitory
hybrid entrepreneurs and persistent hybrid entrepreneurs to determine
how they differ. Hybrid entrepreneurs (HEs) represent a significant
share of entrepreneurial activity yet little is known about them. We
define HEs as individuals who are active as entrepreneurs but do no
support themselves primarily by their enterprise. Persistent HEs
(PHEs) are not planning to transition to fulltime entrepreneurship
whereas transitory HEs (THEs) consider it probable. Our results
show that THEs and PHEs are quite similar in background. THEs are
more interested in increasing their turnover than PHEs, as expected,
but also emphasize self-fulfillment as a motive for entrepreneurship
more than PHEs. The clearest differences between THEs and PHEs
are found in their views on how well their immediate circle supports
full-time entrepreneurship, and their views of their own
entrepreneurial abilities and the market potential of their firm. Our
results support earlier arguments that hybrids should be considered
separately in research on entrepreneurial entry and self-employment.
Abstract: The paper deals with behaviour of the segment 50+ in
the financial market in the Czech Republic. This segment could be
said as the strong market power and it can be a crucial business
potential for financial business units. The main defined objective of
this paper is analysis of the customers´ behaviour of the segment 50-
60 years in the financial market in the Czech Republic and proposal
making of the suitable marketing approach to satisfy their demands in
the area of product, price, distribution and marketing communication
policy. This paper is based on data from one part of primary
marketing research. Paper determinates the basic problem areas as
well as definition of financial services marketing, defining the
primary research problem, hypothesis and primary research
methodology. Finally suitable marketing approach to selected sub
segment at age of 50-60 years is proposed according to marketing
research findings.
Abstract: This paper examines international marketing in
business practice of Czech exporting small and medium-sized
enterprises (SMEs) with regard to the strategic perspectives.
Research was focused on Czech exporting SMEs from Moravian-
Silesia region and their behavior on international markets. For
purpose of collecting data, a questionnaire was given to 262 SMEs
involved in international business. Statistics utilized in this research
included frequency, mean, percentage, and chi-square test. Data were
analyzed by Statistical Package for the Social Sciences software. The
research analysis disclosed that there is certain space for
improvement in strategic marketing especially in a marketing
research, perception of cultural and social differences, product
adaptation and usage of marketing communication tools.
Abstract: This research aimed to study the characteristics of a
community in the social, economic and cultural context. This
research used interviews and surveys of the members in the Patthana
Soi Ranongklang community, Dusit District, Bangkok. The results
are as follows: In terms of overall conditions and characteristics, the
Patthana Soi Ranongklang community is located on the property of
the Treasury Department. 50 years ago, the location of this
community consisted of paddy fields with limited convenience in
terms of transportation. Rama V Road was only a small narrow road
accessed only by three-wheelers there were no buses. The majority of
community members moved in from Mak Khawan Rangsan Bridge.
Thus, most community members were either workers or government
officials as they were routers not the owners of the land. Therefore,
there were no primary occupations within the 7 acres of this
community. The development of the community started in 1981. At
present, the community is continuously being developed and
modernization is rapidly flowing in. One of the reasons was because
the main roads were widened, especially Rama V Road that allows
more convenient transportation, leading to heightened citizens’
convenience. In terms of the economy and society, Rama V Road
causes the research to find out the development and expansion of
change in the conditions of the area and buildings. Some buildings
were improved and changed along the time, as well as the
development of new facilities that caused the community members to
continually become more materialistic. In the community, it has well
organized and managed jobs to each part of community members,
and areas were improved to allow the new buildings and apartments.
The trend of jobs became more varied, in terms of both jobs at home,
such as workers, merchandizing and small own businesses, and the
community jobs outside, which became much more convenient to car
drivers as they got used to the narrow roads inside the community.
The location of the community next to Rama V Road also allows
assistance from government agencies to reach the community with
ease. Moreover, the welfare of the community was well taken care of
by the community committee. In terms of education, the research
found that there are two schools: Wat Pracharabuedham School and
Wat Noi Noppakun School that are providing education within the
community. The majority in the community have received Bachelor
degrees. In areas of culture, the research found that the culture,
traditions and beliefs of people in the community were mainly
transferred from the old community: the majorities are Buddhists, so
especially beliefs in Buddhism; the main reason for this is because
the old community was situated near Wat Makut Kasattriyaram.
Therefore, the community members have always had Buddhist
temples as the centre of the community. Later years, more citizens
moved along culture in and bring traditions and beliefs with them.
The community members also took part in building a Dharma hall
named Wat Duang Jai which is 72 year old.
Abstract: Planning of infrastructure and processes in logistic
center within the frame of various kinds of logistic hubs and
technological activities in them represent quite complex problem.
The main goal is to design appropriate layout, which enables to
realize expected operation on the desired levels. The simulation
software represents progressive contemporary experimental
technique, which can support complex processes of infrastructure
planning and all of activities on it. It means that simulation
experiments, reflecting various planned infrastructure variants,
investigate and verify their eligibilities in relation with corresponding
expected operation. The inducted approach enables to make qualified
decisions about infrastructure investments or measures, which derive
benefit from simulation-based verifications. The paper represents
simulation software for simulation infrastructural layout and
technological activities in marshalling yard, intermodal terminal,
warehouse and combination between them as the parts of logistic
center.
Abstract: The aim of this paper is to select the most accurate
forecasting method for predicting the future values of the
unemployment rate in selected European countries. In order to do so,
several forecasting techniques adequate for forecasting time series
with trend component, were selected, namely: double exponential
smoothing (also known as Holt`s method) and Holt-Winters` method
which accounts for trend and seasonality. The results of the empirical
analysis showed that the optimal model for forecasting
unemployment rate in Greece was Holt-Winters` additive method. In
the case of Spain, according to MAPE, the optimal model was double
exponential smoothing model. Furthermore, for Croatia and Italy the
best forecasting model for unemployment rate was Holt-Winters`
multiplicative model, whereas in the case of Portugal the best model
to forecast unemployment rate was Double exponential smoothing
model. Our findings are in line with European Commission
unemployment rate estimates.
Abstract: Housing loans play an important role in CEE
countries’ economies. This fact is based on their share in total loans
to households and their importance for economic activity and growth
in CEE countries. Therefore, it is important to find out key
determinants of housing loans demand in these countries. The aim of
this study is to research and analyze the determinants of the demand
for housing loans in Croatia. In this regard, the effect of economic
activity, loan terms and real estate prices were analyzed. Also, the
aim of this study is to find out what motivates people to take housing
loans. Therefore, primarily empirical study was conducted among the
Croatian residents. The results show that demand for housing loans is
positively affected by economic growth, higher personal income and
flexible loan terms, while it is negatively affected by interest rate rise.
Abstract: Facing the understanding problem of update and
preservation of urban history space under background of rapid Chinese
urbanization, so at first there is a need to dig the philosophic principles
of “antithesis” and “unification” which are contained in the traditional
Chinese literature known as “antithesis” and do the job of planning
translation by personal understanding in order to form understanding
and value systems of dialectical urban history space under the
foundation of “antithesis”. Then we could put forward a “context”
concept for urban history space under the foregoing basis. After that,
we will take the update and preservation of Ningbo Tianyi Pavilion’s
historical district as an example to discuss problems related to
understanding of urban history area under the basis of Chinese
tradition culture, improvement of value system, construction of urban
trait space and Chinese “localization” of planning theory.
Abstract: Internet financial reporting and corporate governance
issues are in the focus of academic and professional studies due to
their attributed importance by stakeholders of corporations. Major
aim of this study is to reveal the relationship between internet
financial reporting which is held as dependent variable and some
indicators of corporate governance such as the ratio of managerial
ownership, blockholder ownership, number of independent members
in the board of directors, frequency of meetings by audit committee
and education level of audit committee members which are held as
independent variables. Main purpose is to reveal the effect of
corporate governance on the voluntary efforts of Internet Financial
reporting. The scope of the research is limited to the Turkish
Corporations listed in Borsa Istanbul (Istanbul Stock Exchange) and
findings which are generated by means of SPSS software are revealed
in results section and interpreted in conclusions.
Abstract: The impact of Special Economic Zones (SEZs) has
been analyzed for many years by researchers. There are lot of
theoretical studies proving the SEZs importance for regional
development, however, there is lack of empirical studies (and they
are mainly focused on China market) that are based on available data.
The theoretical studies indicate the various impacts of enterprises
operating within SEZs on the economy. The article proves that, in
case of Poland, locating SEZs in municipalities is an important part
of increasing municipalities’ income. Therefore SEZs have a positive
impact on regional development. Municipality income is understood
as taxes paid by taxpayers who depend on SEZ companies’
performance. The analysis includes the Corporate Income Tax (CIT),
Personal Income Tax (PIT) and real estate tax. The effects of SEZs
on regional development were narrowed to a few variables that are
most significant for the financial system. The analysis indicates the
significant impact of SEZs on the amount of taxes influencing the
municipality budget.
Abstract: In this study, the root of the name Lykaonia and the geographical area defined as Lykaonia Region are mentioned. In this context, information concerning the settlements of Paleolithic Age, Neolithic Age and Chalcolithic Age are given place. Particularly the settlements belonging to Classical Age are localized and brief information about the history of these settlements is provided. In the light of this information, roads of Antique period in the region are evaluated.
Abstract: Nowadays, it is a globalization era which social media
plays an important role to the lifestyle as an information source, tools
to connect people together and etc. This research is object to find out
about the significant level of the social media as a distribution
channel to the agriculture product of Thailand. In this research, the
agriculture product is the Rice Berry which is the cross-bred unmilled
rice producing dark violet grain, is a combination of Hom Nin Rice
and Thai Jasmine/ Fragrant Rice 105. Rice Berry has a very high
nutrition and nice aroma so the product is in the growth stage of the
product cycle. The problem for the Rice Berry product in Thailand is
the production and the distribution channel. This study is to confirm
that the social media is another option as the distribution channel for
the product which is not a mass production product. This will be the
role model for the other niche market product to select the
distribution channel.
Abstract: Learning Management System (LMS) is the system
which uses to manage the learning in order to grouping the content
and learning activity between the lecturer and learner including
online examination and evaluation. Nowadays, it is the borderless
learning era so the learning activities can be accessed from
everywhere in the world and also anytime via the information
technology and media. The learner can easily access to the
knowledge so the different in time and distance is not a constraint for
learning anymore.
The learning pattern which was used in this research is the
integration of the in-class learning and online learning via internet
and will be able to monitor the progress by the Learning management
system which will create the fast response and accessible learning
process via the social media. In order to increase the capability and
freedom of the learner, the system can show the current and history
of the learning document, video conference and also has the chat
room for the learner and lecturer to interact to each other.
So the objectives of the “The Design and Applied of Learning
Management System via Social Media on Internet: Case Study of
Operating System for Business Subject” are to expand the
opportunity of learning and to increase the efficiency of learning as
well as increase the communication channel between lecturer and
student. The data of this research was collect from 30 users of the
system which are students who enroll in the subject. And the result of
the research is in the “Very Good” which is conformed to the
hypothesis.