Abstract: The term private equity usually refers to any type of
equity investment in an asset in which the equity is not freely
tradable on a public stock market. Some researchers believe that
private equity contributed to the extent of the crisis and increased
the pace of its spread over the world. We do not agree with this.
On the other hand, we argue that during the economic recession
private equity might become an important source of funds for firms
with special needs (e.g. for firms seeking buyout financing, venture
capital, expansion capital or distress debt financing). However,
over-regulation of private equity in both the European Union and
the US can slow down this specific funding channel to the
economy and deepen credit crunch during global crises.
Abstract: One of the main consequences of the ubiquitous usage of Internet as a means to conduct business has been the progressive internationalization of contracts created to support such transactions. As electronic commerce becomes International commerce, the reality is that commercial disputes will occur creating such questions as: "In which country do I bring proceedings?" and "Which law is to be applied to solve disputes?" The decentralized and global structure of the Internet and its decentralized operation have given e-commerce a transnational element that affects two questions essential to any transaction: applicable law and jurisdiction in the event of dispute. The sharing of applicable law and jurisdiction among States in respect of international transactions traditionally has been based on the use of contact factors generally of a territorial nature (the place where real estate is located, customary residence, principal establishment, place of shipping goods). The characteristics of the Internet as a new space sometimes make it difficult to apply these rules, and may make them inoperative or lead to results that are surprising or totally foreign to the contracting parties and other elements and circumstances of the case.
Abstract: The new status generated by technological advancements and changes in the global economy raises important issues on how communities and organisations need to innovate upon their traditional processes in order to adapt to the challenges of the Knowledge Society. The DialogoS+ European project aims to study the role of and promote social dialogue in the banking sector, strengthen the link between old and new members and make social dialogue at the European level a force for innovation and change, also given the context of the international crisis emerging in 2008- 2009. Under the scope of DialogoS+, this paper describes how the community of Europe-s banking sector trade unions attempted to adapt to the challenges of the Knowledge Society by exploiting the benefits of new channels of communication, learning, knowledge generation and diffusion focusing on the concept of roadmapping. Important dimensions of social dialogue such as collective bargaining and working conditions are addressed.
Abstract: With the enormous growth on the web, users get easily
lost in the rich hyper structure. Thus developing user friendly and
automated tools for providing relevant information without any
redundant links to the users to cater to their needs is the primary task
for the website owners. Most of the existing web mining algorithms
have concentrated on finding frequent patterns while neglecting the
less frequent one that are likely to contain the outlying data such as
noise, irrelevant and redundant data. This paper proposes new
algorithm for mining the web content by detecting the redundant
links from the web documents using set theoretical(classical
mathematics) such as subset, union, intersection etc,. Then the
redundant links is removed from the original web content to get the
required information by the user..
Abstract: Arrack is one of the forms of alcoholic beverage or
liquor which is produced from palm or date juice and commonly
consumed by the lower social class of all religious/ethnic
communities in the north-western villages of Bangladesh. The
purpose of the study was to compare arrack drinking patterns
associated with socio-demographic status among the Muslim, Hindu,
Santal, and Oraon communities in the Rasulpur union of Bangladesh.
A total of 391 respondents (Muslim n-109, Hindu n-103, Santal n-89,
Oraon n-90) selected by cluster random sampling were interviewed
by ADP (Arrack Drinking Pattern) questionnaire. The results of
Pearson Chi-Squire test revealed that arrack drinking patterns were
significantly differed among the Muslim, Hindu, Santal, and Oraon
communities- drinkers. In addition, the results of Spearman-s
bivariate correlation coefficients also revealed that sociodemographic
characteristics of the communities- drinkers were the
significantly positive and negative associations with the arrack
drinking patterns in the Rasulpur union, Bangladesh. The study
suggests that further cross-cultural researches should be conducted
on the consequences of arrack drinking patterns on the communities-
drinkers.
Abstract: The paper presents the design concept of a unitselection
text-to-speech synthesis system for the Slovenian language.
Due to its modular and upgradable architecture, the system can be
used in a variety of speech user interface applications, ranging from
server carrier-grade voice portal applications, desktop user interfaces
to specialized embedded devices.
Since memory and processing power requirements are important
factors for a possible implementation in embedded devices, lexica
and speech corpora need to be reduced. We describe a simple and
efficient implementation of a greedy subset selection algorithm that
extracts a compact subset of high coverage text sentences. The
experiment on a reference text corpus showed that the subset
selection algorithm produced a compact sentence subset with a small
redundancy.
The adequacy of the spoken output was evaluated by several
subjective tests as they are recommended by the International
Telecommunication Union ITU.
Abstract: The Baltic States regained independence and started
the pathway from command economy to market economy and
entered European Union at the same time. Latter internationally
recognized evaluations for the countries are diverse. The present
diversity of the Baltic States -Economic Development is a subject of
interest because of the similarities – all three are small, open
economies, countries have similar geographic location and initially
likewise historical and political backgrounds. This article explains
relationship between social environment, business environment and
economic growth. It argues that the elements of social environment
underlie more successful economic development. It researches the
causes, why Estonia has performed better in economic outcomes and
development. The article analyses selection of socio-economic
indicators of all three Baltic States – Latvia, Lithuania and Estonia
for the time period of ten years to include the influence of economic
cycles.
Abstract: Culinary culture differences can cause health
problems for international tourists in Thailand. This paper drew upon
data collected from an international tourist survey conducted in
Bangkok, Thailand during summer of 2012. Summer is the period
that a variety food safety issues and incidents are often publicized in
Thailand. The survey targeted European Union tourists- concerns
toward a variety of food safety issues that they encountered during
their trip in Thailand. A total of 400 respondents were elicited as data
input for t-test, and one way ANOVA test. The findings revealed an
astonishing result that up to 46.5 percent of respondents were sick at
least one time or more in Thailand. However, the majority of
respondents trusted that the Thai hotel and Thai restaurants would
ensure food safety, but they did not trust street vendors to ensure food
safety. The level of food safety concern can be ranked from most
concern to least concern by using the value of mean scores as
follows: 1) artificial coloring, 2) use of preservatives, 3) antibiotics,
4) growth hormones, 5) chemical residues, and 6) bacterial
contamination. The overall mean score for level of concerns was
3.493 with standard deviation of 1.677 which did not indicate a very
high level of concern. In addition, the result for t-test and one way
ANOVA test revealed that there was not much effect from the
demographic differences to level of food safety concerns.
Abstract: There are little subjects in macroeconomics that are so
widely discussed, but at the same time controversial and without a
clear solution such as the choice of exchange rate regime. National
authorities need to take into consideration numerous fundamentals,
trying to fulfil goals of economic growth, low and stable inflation
and international stability. This paper focuses on the countries of ex-
Yugoslavia and their exchange rate history as independent states. We
follow the development of the regimes in 6 countries during the
transition through the financial crisis of the second part of the 2000s
to the prospects of their final goal: full membership in the European
Union. Main question is to what extent has the exchange regime
contributed to their economic success, considering other objective
factors.
Abstract: Morphological operators transform the original image
into another image through the interaction with the other image of
certain shape and size which is known as the structure element.
Mathematical morphology provides a systematic approach to analyze
the geometric characteristics of signals or images, and has been
applied widely too many applications such as edge detection,
objection segmentation, noise suppression and so on. Fuzzy
Mathematical Morphology aims to extend the binary morphological
operators to grey-level images. In order to define the basic
morphological operations such as fuzzy erosion, dilation, opening
and closing, a general method based upon fuzzy implication and
inclusion grade operators is introduced. The fuzzy morphological
operations extend the ordinary morphological operations by using
fuzzy sets where for fuzzy sets, the union operation is replaced by a
maximum operation, and the intersection operation is replaced by a
minimum operation.
In this work, it consists of two articles. In the first one, fuzzy set
theory, fuzzy Mathematical morphology which is based on fuzzy
logic and fuzzy set theory; fuzzy Mathematical operations and their
properties will be studied in details. As a second part, the application
of fuzziness in Mathematical morphology in practical work such as
image processing will be discussed with the illustration problems.
Abstract: Whilst there is growing evidence that activity across the lifespan is beneficial for improved health, there are also many changes involved with the aging process and subsequently the potential for reduced indices of health. Data gathered on a subsample of 535 football code athletes, aged 31-72 yrs ( = 47.4, s = ±7.1), competing at the Sydney World Masters Games (2009) demonstrated a significantly (p < 0.001), reduced classification of obesity using Body Mass Index (BMI) when compared to the general Australian population. This evidence of improved classification in one index of health (BMI < 30) for master athletes (when compared to the general population) implies there are either improved levels of this index of health due to adherence to sport or possibly the reduced BMI is advantageous and contributes to this cohort adhering (or being attracted) to masters sport. Demonstration of this proportionately under-investigated World Masters Games population having improved health over the general population is of particular interest.
Abstract: This paper is concerned with an improved algorithm
based on the piecewise-smooth Mumford and Shah (MS) functional
for an efficient and reliable segmentation. In order to speed up
convergence, an additional force, at each time step, is introduced
further to drive the evolution of the curves instead of only driven by
the extensions of the complementary functions u + and u - . In our
scheme, furthermore, the piecewise-constant MS functional is
integrated to generate the extra force based on a temporary image that
is dynamically created by computing the union of u + and u - during
segmenting. Therefore, some drawbacks of the original algorithm,
such as smaller objects generated by noise and local minimal problem
also are eliminated or improved. The resulting algorithm has been
implemented in Matlab and Visual Cµ, and demonstrated efficiently
by several cases.
Abstract: The paper presents the Romanian realities and perspectives from the point of view of reaching the sustainable development model in the context of the recent accession to the European Union, based on the analysis of the indicators listed in the EU Sustainable Development Strategy. The analysis of the economic-social potential for sustainable development and of the environment aspects show that the objectives stipulated in the renewed EU Sustainable Development Strategy of 2006 can be reached, but an extra effort must be put-in in order to overcome the existing substantial gaps in several areas in relation to the developed countries of the EU. The paper-s conclusions show that even if sustainable development is not an easy target to reach in Romania, there are resources and a growing potential, which can lead to sustainable development if used rationally.
Abstract: The current situation in the eurozone raises a number of topics for discussion and to help in finding an answer to the question of whether a common currency is a more suitable means of coping with the impact of the financial crisis or whether national currencies are better suited to this. The economic situation in the EU is now considerably volatile and, due to problems with the fulfilment of the Maastricht convergence criteria, it is now being considered whether, in their further development, new member states will decide to distance themselves from the euro or will, in an attempt to overcome the crisis, speed up the adoption of the euro. The Czech Republic is one country with little interest in adopting the euro, justified by the fact that a better alternative to dealing with this crisis is an independent monetary policy and its ability to respond flexibly to the economic situation not only in Europe, but around the world. One attribute of the crisis in the Czech Republic and its mitigation is the freely floating exchange rate of the national currency. It is not only the Czech Republic that is attempting to alleviate the impact of the crisis, but also new EU member countries facing fresh questions to which theory have yet to provide wholly satisfactory answers. These questions undoubtedly include the problem of inflation targeting and the choice of appropriate instruments for achieving financial stability. The difficulty lies in the fact that these objectives may be contradictory and may require more than one means of achieving them. In this respect we may assume that membership of the euro zone might not in itself mitigate the development of the recession or protect the nation from future crises. We are of the opinion that the decisive factor in the development of any economy will continue to be the domestic economic policy and the operability of market economic mechanisms. We attempt to document this fact using selected countries as examples, these being the Czech Republic, Poland, Hungary, and Slovakia.
Abstract: Since 2008 a new economic crisis is present is the
entire planet. This crisis affects several domains of the economic but
also of the social life. Consumption decreases due to the lack of
necessary resources of households to increase their expenditures. The
car manufacturing is one of the main industrial activities in European
Union (EU) and the present crisis particularly affects it. The present
study examines the correlations between several socio-economic
indicators and car market in European Union. The target is to find out
the impact of the present economic crisis on the car market in EU.
Abstract: The objective of this paper is to construct a creativity
composite index designed to capture the growing role of creativity in
driving economic and social development for the 27 European Union
countries.
The paper proposes a new approach for the measurement of EU-27
creative potential and for determining its capacity to attract and
develop creative human capital. We apply a modified version of the
3T model developed by Richard Florida and Irene Tinagli for
constructing a Euro-Creativity Index. The resulting indexes establish
a quantitative base for policy makers, supporting their efforts to
determine the contribution of creativity to economic development.
Abstract: The study explored the question of who am I? As a (re)construction of cultural identity by delving into globalization, communication, and social change in Malta during a historical moment when Malta became a European Union Member State. Three objectives guided this qualitative study. Firstly the study reviewed European Union (EU) policies that regulate broadcasting and their implementation in Member States, whilst meeting the challenges of globalization and new media technology. Secondly the research investigated the changes of the media landscape via organizational structures, programs and television (TV) content. Finally the study explored the impact of these transformations taking place in the way Maltese live as they (re)construct their cultural identity. Despite the choices available to the Maltese audience, old local traditions and new foreign customs coexist as informants continue to (re)construct their cultural identity and define who they are.
Abstract: The paper deals with an application of quantitative analysis – the Data Envelopment Analysis (DEA) method to performance evaluation of the European Union Member States, in the reference years 2000 and 2011. The main aim of the paper is to measure efficiency changes over the reference years and to analyze a level of productivity in individual countries based on DEA method and to classify the EU Member States to homogeneous units (clusters) according to efficiency results. The theoretical part is devoted to the fundamental basis of performance theory and the methodology of DEA. The empirical part is aimed at measuring degree of productivity and level of efficiency changes of evaluated countries by basic DEA model – CCR CRS model, and specialized DEA approach – the Malmquist Index measuring the change of technical efficiency and the movement of production possibility frontier. Here, DEA method becomes a suitable tool for setting a competitive/uncompetitive position of each country because there is not only one factor evaluated, but a set of different factors that determine the degree of economic development.
Abstract: Time full of changes which is associated with globalization, tougher competition, changes in the structures of markets and economic downturn, that all force companies to think about their competitive advantages. These changes can bring the company a competitive advantage and that can help improve competitive position in the market. Policy of the European Union is focused on the fast growing innovative companies which quickly respond to market demands and consequently increase its competitiveness. To meet those objectives companies need the right conditions and support of their state.