Reviews

Figyelő

Author(s): Author Not Specified / Language(s): Hungarian / Issue: 05/2005

Ruttkay Kálmán: Menedékház (Sárközi Márta-emlékkönyv) Rest-house (A book in memory of Márta Sárközi) Radics Viktória: A gyilkos hangsúly (Németh Gábor: Zsidó vagy?) The Murderous Accent (Gábor Németh, Are You a Jewish?) Bazsányi Sándor: Az „őszinte vágyódás” betege (Fehér Ferenc Művei 3. Hazatérni. Művészetfilozófiai írások) Suffering From „Serious Longing” (Ferenc Fehér’s Works 3. Coming Home. Studies in the Philosophy of Art) Gyáni Gábor: Vannak-e még vagy már polgárok idehaza? (Laki Mihály–Szalai Júlia, Vállalkozók vagy polgárok? Are There Still or Already Bourgeois Here in This Country? Laki Mihály: Sokszínű kapitalizmus (Sebők Marcell [szerk.]: Pályaképek a magyar tőkés fejlődés aranykorából) Many-Coloured Capitalism (Marcell Sebők [ed.], Career Portraits from the Gold Age of the Hungarian Capitalist Development)

Poems

A hetvenévesek szeme

Author(s): János Térey / Language(s): Hungarian / Issue: 05/2005

Analysis of the Impact of Transparency, Corruption, Openness in Competition and Tender Procedures on Public Procurement in the Czech Republic

Analysis of the Impact of Transparency, Corruption, Openness in Competition and Tender Procedures on Public Procurement in the Czech Republic

Author(s): Ján Pavel,František Ochrana / Language(s): English / Issue: 02/2013

Keywords: public procurement; transparency; corruption; competition; public procurement; Czech Republic

This study analyses the impact of transparency and openness to competition in public procurement in the Czech Republic. The problems of the Czech procurement market have been demonstrated on the analysis of a sample of contracts awarded by local government entities. From among a set of factors influencing the efficiency of public procurement, we closely analyse transparency, resilience against corruption, openness, effective administrative award procedure, and formulation of appropriate evaluation criteria for selecting the most suitable bid. Some assumptions were confirmed, including a positive effect of open procedures on the level of competition on the supply side as well as the dominant use of price criteria only. The latter case is probably often caused by low skills of workers at the contracting entities, as well as the lack of resources in public budgets. However, we have to reject the persistent legend of “undershooting” tender prices and subsequently increasing the final prices of public contracts. Increases of final prices are very limited. Based on the results of the analyses presented, we argue that the main problem of the Czech public procurement market lies in a rather low competence of administrators who are not able to use non-price criteria more often.

Positional Concerns and Institutions: Some Arguments for Regulation

Positional Concerns and Institutions: Some Arguments for Regulation

Author(s): Xavier Landes / Language(s): English / Issue: 02/2013

Keywords: Efficiency; envy; equality; justice; life satisfaction; positional concerns; public institutions; regulation; status

People care about their relative standing in the distribution of various goods and positions. This fact is increasingly discussed in heterodox economic circles because it challenges the view of a rational, self-interested individual as presented in mainstream economics. Nevertheless, more than their implications for economics, positional concerns imply important normative dimensions. There have been presumed to be a symptom of envy, reduce people’s happiness, and create problems of social interaction or economic inefficiencies. Individuals are, for instance, prone to pick states of the world that improve their relative standing, but worsen the absolute situation of everyone else, including themselves. This article offers a typology of the normative justifications for why institutions could be required to regulate positional concerns. The intent is to prove that some are more convincing than others, namely that invoking envy or subjective well-being is not fully satisfying for regulating positional concerns. More compelling reasons seem, in complement with efficiency, to be related to considerations for equality. In other words, if institutions could have strong reasons to pay attention to and regulate positional concerns, it would be in virtue of their impact on the social product and individuals’ conditions of living.

RELATIONSHIP BETWEEN THE ACHIEVEMENTS IN MUSIC THEORY-HEARING AND INDIVIDUAL INSTRUMENT LESSONS

MÜZİK TEORİSİ VE İŞİTME EĞİTİMİ İLE BİREYSEL ÇALGI EĞİTİMİ BAŞARILARI ARASINDAKİ İLİŞKİLER

Author(s): Mehmet Ozan Uyan / Language(s): Turkish / Issue: 1/2013

Keywords: Music theory; Musical Hearing Education; Instrument Education; Correlation

In this study, correlation analyses was applied to the scores of the lessons Music Theory-Hearing Education, Harmony-Counterpoint-Correpedition and İndividual İnstrument Education, which belong to those who have enrolled Music Education Branch of the Fine Arts Department of the Faculty of Education in the years 2000 and 2001. By the results of correlation analyses, the direction, the degree of the relations between these fields and significance of those relations were determined. The relationship between the achievements in the fields of music theory-hearing and instrument playing was tried to be made clear by means of these determinations. Consequently, it was observed that there was a positive correlation between two fields, which is at a statistically significant level.

REWIEW OF N.E.Ü. A.K.E.F. MUSIC EDUCATION DEPARTMENT'S STUDENTS ABOUT THEIR WORKING STATUS OF INDIVIDUAL INSTRUMENT LESSON

N.E.Ü. A.K.E.F. MÜZİK EĞİTİMİ A.B.D. ÖĞRENCİLERİNİN BİREYSEL ÇALGI DERSİ ÇALIŞMA DURUMLARI HAKKINDAKİ GÖRÜŞLERİ

Author(s): Hayrettin Onur Kucukosmanoglu / Language(s): Turkish / Issue: 1/2013

Keywords: Education; Music Education; Instrument education; Individual Instrument Education

This study was designed to assess the general condition of Konya Necmettin Erbakan University Ahmet Keleşoğlu Education Faculty Music Education Departments Student's in individual instrument lessons. In harmony with the purpose of the study tables have been prepared and “percentage and frequency” accounts have been made by analyzing the data obtained statistically. Students of Ahmet Keleşoğlu Education Faculty Music Education Departments were chosen in order to build the universe of the study. As a result of the study, determined the students opinion for their general working status to individual instruments and suggestions have been made for it would benefit the area.

UNIVERSITY STUDENTS’ VIEWS ON ELECTIVE MUSIC COURSE (CASE OF NEVSEHIR UNIVERSITY)

ÜNİVERSİTE ÖĞRENCİLERİNİN SEÇMELİ MÜZİK DERSLERİNE İLİŞKİN GÖRÜŞLERİ (NEVŞEHİR ÜNİVERSİTESİ ÖRNEĞİ)

Author(s): Emre Ustun,Emin Erdem Kaya / Language(s): Turkish / Issue: 1/2013

Keywords: University; Music; Elective Course

This research was conducted to determine the student views on common elective music courses given in first grade in Nevşehir University Faculty of Economics and Administrative Sciences, Faculty of Science and Literature, Faculty of Engineering and Architecture, Tourism Faculty, and Semra and Vefa Küçük College of Health in 2011-12 spring semester.In the result of the research, it was determined that students were mostly interested in common elective music course; that they believed that this course was necessary although it was a non-credit course and they stated that it should be a credit course. In addition, some suggestions were made in order to make common elective music course more efficient both in content and method by making it more widespread and by being supported by relevant units.

INVESTIGATION OF VIOLIN LESSON TEACHING PROGRAMME AT FINE ARTS AND SPORTS HIGH SCHOOLS

GÜZEL SANATLAR VE SPOR LİSELERİNDE YÜRÜTÜLEN KEMAN DERSİ ÖĞRETİM PROGRAMININ İNCELENMESİ

Author(s): Nurtuğ Barıseri,Özge Kaya,Emin Erdem Kaya / Language(s): Turkish / Issue: 1/2013

Keywords: Fine Arts and Sport School; Violin; Teaching Program

Teaching programmes are planned to indicate the allocation of time for the defined content of lessons in order to reached the required achievements. The Anatolian fine arts high school, today it is known as fine arts and sport high school has changed their teaching programmes from time to time since its establishment in 1989-1990 teaching term. This study is aimed, to introduce the new violin teaching programme which has been developed in 2008-2009 and to examine the violin programme in detail according to the the views of violin teachers about its use and efficiency in violin teaching.

RESEARCH APPROACHES AND METHODS: PRACTITIONER RESEARCH IN MUSIC EDUCATION

ARAŞTIRMA YAKLAŞIM VE YÖNTEMLERİ: MÜZİK EĞİTİMİNDE UYGULAMALI ARAŞTIRMALAR

Author(s): Nurtuğ Barıseri / Language(s): Turkish / Issue: 1/2013

Keywords: Research methods; Music Education

This work has been prepared in order to provide introductive informatıon about changes, transformations and development of research approaches to the researchers who has stepped into the research process. It is aimed to explain the theoratical and practical systems of quantitative and qualitative approaches. Moreover, action research and reflective studies have been explained in the study which can be seen as higher rated research methodologies nowadays. The work also has looked at graduate thesis in our country and examples are given from the thesis if the qualitative approach has been used. It is interesting to see that only few thesis had used the qualitative approaches.

SUSTAINABLE DEVELOPMENT OF BUSINESS AND CULTURE PARTNERSHIP

VERSLO IR KULTŪROS BENDRADARBIAVIMO DARNUS VYSTYMAS

Author(s): Stasys Paulauskas,Kristina Koebe,Aleksandras Paulauskas / Language(s): English / Issue: 1/2014

Keywords: Business, culture; equal opportunities; patronage, partnership; sustainable development; virtualics.

In the article is analysing the problem of equal opportunities in Business and culture partnership and methodology of sustainable development of this natural qualitative process. Using methodology of Virtualics the qualitative transition process of Business and culture interaction is modelling as qualitative trichotomy, which consists of A(t) thesis – financial inequality, B(t) antithesis – patronage and C(t) synthesis – partnership. Sense of sustainable development is interpreting there as impact into harmonising process by use different impact strategies: a)status quo – nothing to do, b)freezing of thesis – suspension and c)harmonisation. Harmonisation of natural flow of the process is focusing to: a)innovation of synthetic quality, b)strengthening of antithesis and c)suppression of thesis. Main means of process harmonisation are: legislation, organisation, finance, knowledge, role modelling, etc. During implementation of South Baltic cross-border co-operation programme project “BCP-Business Culture Partnership” was identified the state of BCP in four regions: Rostock region, Germany; Greifswald region, Germany; Szczecin region, Poland; Rietavas region, Lithuania. Was defined, that in beginning of project implementation before 2012 year BCP was in the state of the thesis A(t). Was formed target to create system, which enables to improve equal opportunities in BCP. Were worked out and implemented specific forms of antithesis B(t) patronage, starting by informational means and finishing by stimulating valued orientation trough award of the most contributed businessmen. Synthetic quality of BCP further will be strengthening by implementation crowd-funding web platform and exchanging of gifts in highest level events.

PLAČIOS DIVERSIFIKACIJOS INVESTAVIMO STRATEGIJOS TESTAVIMAS

TESTING THE STRATEGY OF WIDE DIVERSIFICATION INVESTMENT

Author(s): Diana Cibulskienė,Martynas Brazauskas / Language(s): Lithuanian / Issue: 1/2014

Keywords: Diversification; exchange traded fund - ETF; investment portfolio; Markowitz theory; risk.

The capital market development and globalization determine the closer relationship among the different financial sectors in a country. Many scientists (Driessen ir Laeven, 2007, Mohamad, Hassan, Sori, 2006, Hui, 2005) determined that investment in the different countries helps reduce the risk, compared with investment in the different sectors in one country. Portfolio theory of risk reduction is often associated with investment diversification. Even in 1952 H. Markowitz emphasized the benefits of diversification by offering an investment portfolio split into a number of assets in order to spread the risk without reducing return. But in 2008 financial crisis spread globally, so even diversified portfolio did not protect against significant loss. This paper deals with the formation of widely diversified portfolios and their effectiveness evaluation after carrying out the possibility analysis of asset involvement into the widely diversified portfolio. Variety of investment means makes it easier and faster to invest in such classes of asset as goods, precious metals, real estate, as well as to take advantage of currency fluctuations. Research survey showed that the combination of different asset classes reduces the volatility of the portfolio at an inopportune time. The testing of investment portfolios showed that the results of actual investment portfolio do not reflect the expected results. For a variety of market factors the optimal investment portfolio did not increase returns or reduce risk. Widely diversified (risk-taking and risk-free) investment portfolio value decreased because of the Japanese yen and precious metals ETF values decline. The risk of risk-free diversified investment portfolio is the lowest of all the form of investment portfolios, but the average return is negative. The diversification benefit reflects only in widely diversified, risk-free and base investment portfolios, then the portfolio risk is the lowest, but the average return is close to zero. The comparison of broadly diversified and stock ETF investment portfolios showed that widely split investments can reduce market risk. As the analysis showed, past results do not reflect future results and could result the loss, therefore it is recommended to overlook even the widely diversified investment portfolio composition.

CONFLICTS AND THEIR PREVENTION IN INTERCULTURAL COMMUNICATION OF BUSINESS NEGOTIATIONS: THE EXCHANGE OF INFORMATION AND MANAGEMENT OF EXPECTATIONS

KONFLIKTAI IR JŲ PREVENCIJA TARPKULTŪRINĖJE VERSLO DERYBŲ KOMUNIKACIJOJE: INFORMACIJOS MAINAI IR LŪKESČIŲ VALDYMAS

Author(s): Kęstutis Jr. Peleckis / Language(s): Lithuanian / Issue: 1/2014

Keywords: Business negotiations, conflict; conflict prevention; information exchange; management of expectations; cross-cultural communication.

Conflict analysis and their management showed that during the past decades its scientific understanding changed from the social sciences to interdisciplinary management fields. Conflicts are examined and defined in their own way by management, psychology, politics, law, economics and other sciences. Solutions of conflicts are an integral part of business negotiations – in negotiations are solved various inconsistencies, conflicts of both negotiating parties. Conflict resolution techniques can change in dependence on the culture of the country. In negotiations with the representatives of other countries is necessary to know the dominating conflict management styles in the relevant country and how it is possible to adjust own behavior. A significant number of modern business negotiations are international, so it is proposal to use mediator in negotiations of another culture who is an individual having the same cultural experience as business partners. In process of preparation for negotiations with other country is necessary to take into account the characteristics of relationships prevailing in that country. This paper reviews the process of conflicts in negotiations and their prevention in the interaction of different cultures. Also this paper analyzes the impact of exchange of information and management of expectations for the prevention of conflicts in the negotiations. In order to manage the expectations of the other side of the negotiations is necessary to find out in the preparation phase the values of partner, and try to manage information in negotiations, understanding the values and the context of the other side of negotiations, in order to form useful for us expectations from the other side, which would help to avoid further conflicts in the negotiating process.

ASSESSMENT FINANCIAL SYSTEM STABILITY USING AGGREGATED INDICES (CASE OF LITHUANIA)

AGREGUOTO INDEKSO TAIKYMAS FINANSŲ SISTEMOS STABILUMUI VERTINTI (LIETUVOS PAVYZDŽIU)

Author(s): Alina Pavlik,Lina Novickytė / Language(s): Lithuanian / Issue: 1/2014

Keywords: Financial crisis; financial system stability; banking sector; financial stress index; aggregate index.

Maintaining financial system stability has become very important at the country level as well as international level. Financial system stability is a broad concept and it refers to the smooth functioning of the key elements (institutions, markets and infrastructure, etc.) that make up the financial system. The role of authorities (central banks) responsible for promoting and maintaining financial stability involves monitoring financial developments, identifying areas of concern and undertaking necessary measures in cooperation with relevant institutions. Nowadays globalization and rapid integration of markets sometimes has negative consequences, when facilitating the dissemination of "contagion effect“ (or systematic risk). This effect is particularly dangerous in highly integrated markets; negative derivative of integration and contagion effect was especially apparent during the recent financial crisis, when the lack of confidence in the financial markets quickly spread to other markets and caused a lot of negative effects in the economy: banks collapsed, appeared liquidity problems in the financial system, the deterioration of expectations in financial markets, increasing public debt and etc. Therefore particularly important to assess the country's resilience to potential negative shocks and thus limit the potential contagion (systemic risk) spread in the market.

LOGISTIC MANAGEMENT IN CRISIS SITUATIONS

LOGISTIC MANAGEMENT IN CRISIS SITUATIONS

Author(s): Wilk-Jakubowski Grzegorz / Language(s): English / Issue: 1/2014

Keywords: Logistics management; logistic security; crisis situation; construction disaster in Chorzów.

The aim of this article is the analysis of logistics management in the crisis situations based on the case of the organisation of logistics security after Poland’s biggest construction disaster that took place on 28th of January 2006 in Chorzów. The introduction defines key concepts , it indicates the aim of the publication and the research methods used. It also presents the state of research in the field of logistics management in crisis situations. The research methods such as a descriptive, legally-institutional and decision making one were used for the analysis of logistics management in crisis situations based on the example of the organisation of logistic security. Having analysed the volume of research within the field of logistics management it was concluded that the field literature does not include the practical aspect of the logistics management process i.e. the logistic security of the people affected. The intend of this article is to complete this gap in the literature. In the later part of this document an organisation of logistics management is analysed. This analysis covers the missions of logistics activities, the factors determining their effectiveness and the authorities responsible for the management of the logistic potential in the crisis situations. Then, five phases of logistics security organisation are presented- a preparatory, an introductory, a phase of integration, removal and the phase of restoring the initial order. Thus, it was found that the specification of logistic activities undertaken at each phase of logistic security activities of the people affected in the crisis situations depends on the type of threat, its’ scale and the pace of its’ development. The next part of this article covers the analysis of functioning of the logistic groups of crisis management teams at the time of peace when the crisis situations in certain area do not occur but also during the crisis situations and the states of emergency. Then, the research covers the logistic security organisation after the construction disaster in Chorzów. The main tasks of the rescue and logistic service units which were gathered on the site of catastrophe are presented. It should be noted that the actions undertaken by the above-mentioned service units were very effective. This is indicated by the ratio in the number of people rescued during the rescue action to the number of victims who died as a result of the disaster. The conclusion of this article presents findings of the research. Two stages of logistic actions that were undertaken during the rescue operation within the catastrophe area were separated : a stage of securing the continuality of actions and the stage of organising and managing the socio-technical facilities.

CUSTOMER SATISFACTION FACTORS: METHODOLOGICAL ASPECTS

CUSTOMER SATISFACTION FACTORS: METHODOLOGICAL ASPECTS

Author(s): Aida Navikaitė,Valentinas Navickas / Language(s): English / Issue: 1/2014

Keywords: Customer satisfaction; models; methodology.

Today’s competitive business environment challenges companies. Therefore, it is significant for organizational institutions to pay more attention to the needs of their client base. With this in mind, the necessity to examine customer satisfaction is on the center stage. The strong argument for this step is the proven fact that retaining customer is cheaper than attracting new ones. Moreover, measuring customer satisfaction shows whether the company’s product or service exceeds the customers’ expectations. Hence, the current article is initiated on the examination of factors that determine customer satisfaction. It could be concluded that the present study is extensive in terms of displayed past models and other useful academic examples. The findings also confirm that there is a large portion of measurement issues of customer satisfaction. It also should be noted that customer satisfaction factors highly varies on the business area, chosen factors, industry sector, type of the venture. Hence, the significance of the article lies on the fact that it fulfills the academic foundation with the paper that unites the examples of customer satisfaction factors. And regarding this notion, it also puts forward an important background for future theory and practice investigations.

RHETORICAL ARGUMENTATION AND PERSUASION IN BUSINESS NEGOTIATIONS

RETORINIS ARGUMENTAVIMAS IR ĮTIKINIMAS VERSLO DERYBOSE

Author(s): Kęstutis Peleckis,Valentina Peleckienė,Kęstutis Jr. Peleckis / Language(s): Lithuanian / Issue: 1/2014

Keywords: Rhetorical argumentation; business negotiations; persuading the opponent; logical argumentation; ethics of argumentation.

The paper deals with the problems of rhetorical effect to other side of the negotiations. It is argued that a persuasive speech is very important competence of negotiator, as nothing can change negotiator’s alive speech. Only directly negotiating, giving evidence, arguments, counter-arguments, controversy negotiators can move quickly to the overall objective of the agreement. Even with a well-developed modern means of communication, the Internet, electronic negotiation support systems, negotiators are moving to another part of the world for direct negotiations. Negotiator in alive bargaining process demonstrates himself, his appearance, mind, manners, emotions, ethics, etiquette knowledge, characteristics of voice, gestures, movements, facial expressions, reactions and their other communication options. The use of rhetorical tools in bargaining process, the success of staying in contact with the other half of the negotiations is an important factor for effective negotiations. If classical rhetoric focused attention on how to convince the other part, in modern rhetoric, focus is focused more to dialogue, to interaction between speakers, and harmonization of relations.

ANALYSIS OF STUDENT’S, GRADUATES, PROGRAM DEVELOPERS AND EMPLOYER’S OPINION ABOUT AREA OF KNOWLEDGE IN INFORMATICS

STUDENTŲ, ABSOLVENTŲ IR DARBDAVIŲ POŽIŪRIO Į INFORMATIKOS KRYPTIES STUDIJŲ PROGRAMAS ANALIZĖ

Author(s): Eugenijus Valavičius,Sergėjus Ivanikovas / Language(s): Lithuanian / Issue: 1/2014

Keywords: Computer science studies; informatics competencies; the change of competencies.

This paper examines the changes of informatics (computer science) competency field, the problems of study program development or improvement. Lithuania and whole Europe encounter with the lack of specialists of information technologies. Gap between the number of free workplaces in IT business and the number of university graduates in informatics increases each year. Applications of Information Technology are evolving very rapidly, employers want a different application of knowledge and skills. The structure of informatics study program in Lithuania is defined by the Regulation of informatics study field (Lithuanian Ministry of Education and Science, 2008). The wishes of employers, the well-known recommendations of Association for Computing Machinery and the Institute of Electrical and Electronics Engineers „Computing Curricula“, situation in Labour Exchange have a significant impact too. Developers of informatics study program in Lithuania can use the methodics and results of recent surveys about the development of competences in informatics study field (Denisovas, 2011, Poviliūnas, 2010). Normative documents are aging rapidly, they need to be periodically updated. Study program developers have to be very careful distributing the study credits time between basic (fundamental) training and knowledge of specific applications in the field of informatics while creating a new study programs. There is a noticeable shift towards training of specific narrow competences (for example: „programming for smart devices“ instead of „general programming“, „cloud computing“ or „mobile networks“ instead of „computer networks“). Employers desire to train general competences (e.g. work in team, responsibility sense, problem solving competencies etc.). Number of students in groups is not big. This create a problem for optional (alternative) study courses. A case study was implemented to evaluate separate general and specific competencies of informatics (computer science) field. Vilnius Business College Computer science degree program, whose objectives and competencies are well enough to meet a variety of sources and advices, was selected for the case study. Study program has 4 general competencies (sense of initiative and entrepreneurship, ability to work in team etc.) and 8 professional competencies (ability to maintain hardware and software, object programming, databases, architecture of computer networks, computer graphics, web technologies, safety of information etc.). Competencies of this degree program were compared with the Regulations of Informatics study field, Computer Science Curricula 2013 (ACM/IEEE), reccomendations for development of informatics study field. Also study program competencies were evaluated by potential employers and college social partners, alumni and current students of informatics.

STUDY OF INTERDEPENDENCE OF LITHUANIA CREDIT UNIONS ACTICIVITIES AND LITHUANIA MACROECONOMIC INDICATORS

LIETUVOS KREDITO UNIJŲ VEIKLOS IR MAKROEKONOMINIŲ RODIKLIŲ TARPUSAVIO PRIKLAUSOMYBĖS TYRIMAS

Author(s): Laura Paulionienė,Deimena Kiyak / Language(s): Lithuanian / Issue: 1/2014

Keywords: Credit union; macroeconomic indicators; correlation; regression model.

It should be emphasized that the factors affecting the credit union 's performance and continuity of the spectrum is quite broad. It is a human resources management, innovative technology, competition , planning, rational use of resources , management processes , management system , operational expediency and others. It can be assumed that the activities of credit unions as a dynamic state, which is dependent on a wide variety of ever-changing factors inherent to both credit unions both inside and outside. Internal factors are subjective, because the credit union can afford and lead them in the right direction, and external factors stemming from the credit union's outside is objectively determined, i.e. they are common to all businesses, and the company can not operate them. Analysis of external and internal environmental factors helps to assess the potential risks and opportunities, as well as determines what kind of business, economic and technical conditions and the size of the competition. Those factors helps manage corporate resources to make the right decisions.

COMMERCIAL BANKING PRUDENTIAL REQUIREMENTS ANALYSIS (EXAMPLE OF JOINT – STOCK COMPANY SIAULIAI BANK)

KOMERCINIŲ BANKŲ VEIKLOS RIZIKĄ RIBOJANČIŲ NORMATYVŲ VYKDYMO ANALIZĖ (AB ŠIAULIŲ BANKO PAVYZDŽIU)

Author(s): Aušra Kovalčik,Angelė Lileikienė / Language(s): Lithuanian / Issue: 1/2014

Keywords: The liquidity ratio; capital adequacy ratio; the maximum open position in foreign exchange and precious metals; the maximum loan per borrower ratio; the reserve ratio; the CRD IV; Basel III

Literature analysis showed that the commercial banking prudential requirements analyzed little in both theory and practice, especially after the commercial bank restructuring process. Major commercial banks normative indicators of liquidity and capital adequacy. These normatives are basic not accidental. Primary losses are absorbed from liquid asset, the remaining losses of capital. Thus, the commercial capital of the bank is like a last resort, through which absorbed the remainder risk of liquidity. The above indicators discrepancy normative may result in restriction of activity, as a last resort activities moratorium on the commercial bank is considered de facto insolvent. As shown by some of the authors’ research beginnings, the maximum loan currency and precious metals are not essential, but an important and necessary to consider only such standards as possible to get the help of an objective of a commercial bank operating efficiency profile. The maximum loan per borrower normative is like a ceiling to manage their credit risk. Although the normative is limits smaller commercial banks activity to issue large-scale loans, solution can be syndicated loans and strengthening the capital base. Minimum reserves standards is not commercial banks axis, which influences the commercial banking business and its continuity, however , this standard does not only systematic, but also affects the whole country's economic well-being. The main reasons given for the decline in the reserve Bank of Lithuania has a desire to strengthen the capacity of the banks to lend money to individuals and businesses as well as to minimize the gap between Lithuania and the EU mainstream compulsory reserve ratios in order to support the financial system of the country's convergence with the other member states. In addition, it should be noted that in that financial repression and the reserve ratio reduction signals to the public about the financial system by managing bodies desire for more money pumped into the economy. In this way, both the Bank before the merger with joint – stock company Ukio Bank, and after the merger and after the Basel III directives supported the inclusion of excess liquidity. Assessing the capital adequacy of the Bank's capital adequacy normative after the merger with joint – stock company Ukio Bank decreased, while after the Basel III directives integration grew, however, as demonstrated by testing under unfavorable conditions, there is a possibility the least likely scenario to fulfill the capital adequacy normative. The maximum loan per borrower ratio after the merger with joint – stock company Ukio Bank is growing, but the normative limit is not violated. Maximum total open position in foreign exchange and precious metals after the merger with joint – stock company Ukio Bank grew and it adversely affected the performance of the Bank's normative, although the threshold has been violated.

THE INFLUENCE OF AGGLOMERATION AND DISPERSION FORCES FOR THE DISTRIBUTION OF INTERNATIONAL TRADE MARKETS

AGLOMERACIJOS IR DISPERSIJOS JĖGŲ ĮTAKA TARPTAUTINĖS PREKYBOS RINKŲ PASISKIRSTYMUI

Author(s): Aurelija Burinskienė / Language(s): Lithuanian / Issue: 1/2014

Keywords: International trade; enterprise; industry; region; market:

Among Lithuanian authors, international trade is researched as import and export activity mainly. Export and import is researched by Rakauskienė (2006); export and import regulatory measures are examined by Bernatonytė (2009); the commercial architecture of international trade, the main Lithuania export partners are analysed by Ginevičius and others (2005); Lithuanian exports structure and dynamics is presented by Purlys (2006); and the changes of export volumes are investigated by Jakutis and others (2005). However, the attention to economic activity concentration (agglomeration) is not very among Lithuanian researchers. On the other hand, the authors in world's scientific literature investigate the topic from different directions. International trade and the placement of economic activity are common topics in economic researches. One direction of researches stands for the tendency to agglomeration interpretation through international trade and input-output linkages between firms. Another direction turns to the effect of the internal market, as an agglomeration, international trade costs, and increasing returns to scale relationship analyzes. Third direction focuses on the compatibility of rising income and transportation costs and its effect to economic activity concentration. However, not all insights were based on models that allow to analyze the overall balance between explaining the placement of companies in the region. Crucial is Nobel laureate P. Krugman's contribution, which directly affected the international trade and geography field studies. The aim of the study – after the systematic analyze of scientific works dedicated to economic activity concentration topic to provide proposals, which focuses on international trade volume development. The survey is conducted on the basis of the knowledge accumulated in the scientific literature (the research is literature-driven). Systemic analysis methods, generalisation, concretizing, and comparison are used in the study. The systematic analyse is used in the paper seeking to research international trade as the complex object and to develop solutions used for the promotion of international trade volumes. In this paper agglomeration issues are analyzed in three different ways. First, the analysis of the industry life cycle stages in the content of the agglomeration effects is delivered. Second, in the article models, used for the analysis of agglomeration force, are presented. According references in literature models are grouped into five main categories: models dedicated for assortment diversity, market size, distance to the concentration regions ('major markets'); industry ups and downs, and other factors (variables). According P. Krugman New Economic Geography (NEG) models present that companies achieve better results, increase return of investments due to agglomeration force.