Abstract: A virtual collaborative classroom was created at East Carolina University, using videoconference technology via regular internet to bring students from 18 different countries, 2 at a time, to the ECU classroom in real time to learn about each other-s culture. Students from two countries are partnered one on one, they meet for 4-5 weeks, and submit a joint paper. Then the same process is repeated for two other countries. Lectures and student discussions are managed with pre-determined topics and questions. Classes are conducted in English and reading assignments are placed on the website. Administratively all partners are independent, students pay fees and get credits at their home institution. Familiarity with technology, knowledge in cultural understanding and attitude change were assessed, only attitude changes are reported in this paper. After taking this course, all students stated their comfort level in working with, and their desire to interact with, culturally different others grew stronger and their xenophobia and isolationist attitudes decreased.
Abstract: The past decade has witnessed a good opportunities
for city development schemes in UK. The government encouraged
restoration of city centers to comprise mixed use developments with
high density residential apartments. Investments in regeneration areas
were doing well according to the analyses of Property Databank
(IPD). However, more recent analysis by IPD has shown that since
2007, property in regeneration areas has been more vulnerable to the
market downturn than other types of investment property. The early
stages of a property market downturn may be felt most in
regeneration where funding, investor confidence and occupier
demand would dissipate because the sector was considered more
marginal or risky when development costs rise. Moreover, the Bank
of England survey shows that lenders have sequentially tightened the
availability of credit for commercial real estate since mid-2007. A
sharp reduction in the willingness of banks to lend on commercial
property was recorded. The credit crunch has already affected
commercial property but its impact has been particularly severe in
certain kinds of properties where residential developments are
extremely difficult, in particular city centre apartments and buy-to-let
markets. Commercial property – retail, industrial leisure and mixed
use were also pressed, in Birmingham; tens of mixed use plots were
built to replace old factories in the heart of the city. The purpose of
these developments was to enable young professionals to work and
live in same place. Thousands of people lost their jobs during the
recession, moreover lending was more difficult and the future of
many developments is unknown. The recession casts its shadow upon
the society due to cuts in public spending by government, Inflation,
rising tuition fees and high rise in unemployment generated anger and
hatred was spreading among youth causing vandalism and riots in
many cities. Recent riots targeted many mixed used development in
the UK where banks, shops, restaurants and big stores were robbed
and set into fire leaving residents with horror and shock. This paper
examines the impact of the recession and riots on mixed use
development in UK.
Abstract: This conference paper discusses a risk allocation problem for subprime investing banks involving investment in subprime structured mortgage products (SMPs) and Treasuries. In order to solve this problem, we develop a L'evy process-based model of jump diffusion-type for investment choice in subprime SMPs and Treasuries. This model incorporates subprime SMP losses for which credit default insurance in the form of credit default swaps (CDSs) can be purchased. In essence, we solve a mean swap-at-risk (SaR) optimization problem for investment which determines optimal allocation between SMPs and Treasuries subject to credit risk protection via CDSs. In this regard, SaR is indicative of how much protection investors must purchase from swap protection sellers in order to cover possible losses from SMP default. Here, SaR is defined in terms of value-at-risk (VaR). Finally, we provide an analysis of the aforementioned optimization problem and its connections with the subprime mortgage crisis (SMC).
Abstract: This paper provides an analysis of corporate income
tax (CIT) incentives in the Western Balkan countries: Slovenia,
Croatia, Serbia, Montenegro, Macedonia and Albania. Western
Balkan countries, as other transition and developing countries, use
large number of the corporate income tax incentives (CIT) to attract
foreign investments and to stimulate economic activity. The main
goal of this paper is to investigate how often these countries use CIT
incentives and provide review of existing tax incentives in Western
Balkan countries. Paper will focus on reduced CIT rates, tax
holidays, and other investment incentives which imply incentives
like accelerated depreciation, tax allowances and tax credits.
Abstract: The financial crisis has decreased the opportunities of
small businesses to acquire financing through conventional financial
actors, such as commercial banks. This credit constraint is partly the
reason for the emergence of new alternatives of financing, in addition
to the spreading opportunities for communication and secure
financial transfer through Internet. One of the most interesting venues
for finance is termed “crowdfunding". As the term suggests
crowdfunding is an appeal to prospective customers and investors to
form a crowd that will finance projects that otherwise would find it
hard to generate support through the most common financial actors.
Crowdfunding is in this paper divided into different models; the
threshold model, the microfinance model, the micro loan model and
the equity model. All these models add to the financial possibilities of
emerging entrepreneurs.
Abstract: In this paper a non-parametric statistical pattern recognition algorithm for the problem of credit scoring will be presented. The proposed algorithm is based on a clustering k- means algorithm and allows for the determination of subclasses of homogenous elements in the data. The algorithm will be tested on two benchmark datasets and its performance compared with other well known pattern recognition algorithm for credit scoring.
Abstract: Despite the fact that B2c eCommerce has become
important in numerous economies, its adoption varies from country to
country. This paper aims to identify the factors affecting (enabling or
inhibiting) B2c eCommerce and to determine their quantitative
impact on the diffusion of online sales across countries. A dynamic
panel model analyzing the relationship between 13 factors
(Macroeconomic, Demographic, Socio-Cultural, Infrastructural and
Offer related) stemming from a complete literature analysis and the
B2c eCommerce value in 45 countries over 9 years has been
developed. Having a positive correlation coefficient, GDP, mobile
penetration, Internet user penetration and credit card penetration
resulted as enabling drivers of the B2c eCommerce value across
countries, whereas, having a negative correlation coefficient,equal
distribution of income and the development of traditional retailing
network act as inhibiting factors.