ROUND TABLE DISCUSSION “CHALLENGES TO ECONOMIC THOUGH IN THE NEW CENTURY”: Discussion
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Keywords: problem-based learning process; problem-based learning system; educational competence; tutor.
Problem-based learning (PBL) is a strategy of studies based on the interaction between students and the teacher, which is characterized by a systematic independent cognitive activity – i.e. acquiring new knowledge and mastering new modes of activity by tackling practical issues. This paper is based on the obtained findings of our study, and analyzes the attitude of the teachers of the Faculty of Medicine of Lithuanian University of Health Sciences towards the principles of the system of problem-based learning, the roles of the teacher and the student within this system, and the quality of acquired knowledge. The results of our study showed that the future tutors had positive attitudes towards problem-based learning because they identified the advantages of PBL, which could be associated with the possibilities for the creation of the effective learning environment. Through positive or critical evaluations of the manifestations of PBL, teachers can also set aims for the improvement of their own educational competence to ensure the effectiveness of the educational environment that they are creating. In our study, the advantages of problem-based learning were associated with the creation of an effective learning environment, ensuring and maintaining competence-based and psychological conditions of such environment. The downsides of PBL were associated with the creation and maintenance of suitable organizational conditions.
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Keywords: sambo; comparative activities; moves on the ground; throws in front; back throws; painful moves, maintaining; throws over the pelvis; hock leg from the front.
The article analyzes sambo wrestling influence in student physical education and fitness. Significance of practical research is that according to obtained results of competition activities can be adjusted among the students for various sambo competitions. The purpose of this work is to identify and analyze demonstrated VGTU students sambo technique at various levels of competitions during 2010–2012. After analysis of these components in competition, it appears that sambo wrestlers use a variety of techniques. During four competitions there were registered 290 effective moves, 232 while standing, and 58 on the ground. The results revealed 12 different throws that were demonstrated among athletes during competition. While wrestling on the ground the most popular move is maintaining from the side and painful acts are relatively rare. The analysis of the outcome of the wrestling match shows that 90 % of all fights lasted till the end and only 9,1 % finished before the end of the time, out of that 6,3 % in a clear point advantage.
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Keywords: dictionary; lexicography; linguistic characteristics; equivalent.
The purpose of this study is to establish differences and similarities between linguistic characteristics of English and Russian dictionaries. Two dictionaries were selected for the study – electronic version of the 8th edition of Oxford Advanced Learner’s Dictionary (OALD) and the online version of Ozhegov’s explanatory dictionary. The methods chosen for the study were descriptive, comparative and contrastive analysis. Linguistic characteristics of the dictionaries were analysed and compared. The research showed that both reference books provided different linguistic information on the headwords. OALD provided exhaustive phonetic information, which Ozhegov’s dictionary lacked. The two dictionaries provided different orthographic information. OALD disclosed semantic information via various tools available in the electronic version; these were unavailable in Ozhegov’s dictionary. Both dictionaries used similar stylistic labels.
More...Keywords: SME lending; functional distance; operational proximity; financing constraints; investment-cash flow sensitivity
Deregulation and progress in information and communication technologies have increased the geographical expansion of banking structures and instruments. This makes banks operationally close to the borrowers. At the same time, banking industry consolidation have induced a geographical concentration of banking decision centers and strategic functions, leading to an increase of the functional distance that separates the decision center of a bank from its operational branches. The aim of this paper is to evaluate the impact of these two trends on small and medium-sized enterprise (SME) lending. Our findings on French data suggest that (i) increased functional distance induces an increase of the investment cash flow sensitivity considered as a measure of financing constraints and that (ii) the relationship between operational proximity and financing constraints is non linear with an investment-cash flow relationship supposed to be increasing for low levels of operational proximity below a certain threshold and decreasing for high levels of it. The adverse effect of functional distance on financing constraints is particularly acute for small firms.
More...Keywords: Economic growth; pro-poor growth; poverty; Nigeria
This study investigates the pro-poorness of income growth in Nigeria. Using nationally representative data for 1996 and 2004, overall income growth in Nigeria was found not to be pro-poor. The richer segments of the population appropriate greater share of benefits from economic growth. Household size was a critical determinant of poverty levels. Sector of employment also impacts on the probability of a household being poor; with those in agriculture being relatively worse off. The need for smaller family size has to be an integral part of policy aimed at poverty reduction in Nigeria. The support of the government in creating value in critical sectors (like agriculture and industry) that employ a large proportion of Nigerians in order to make growth pro-poor is critical. There is also a need for region-specific policies addressing the peculiarities of poverty in the different parts of the country. One size does not fit all. Deliberate effort of the government in redistributing income is also required to ensure pro-poorness of growth in Nigeria.
More...Keywords: Capital Structure; Trade-off Theory; Pecking Order Theory; Dynamic Panel Data; Shipping companies
The issue of capital structure of companies is one of the most debated problems of financial management. According to economic theory, capital structure determines the stock market value of firms and therefore their viability, while one of the most negative result of the crash of 2008 and the persisting crisis (excess supply in markets of labor and money) is their ongoing steep decline of lending by credit institutions and other sources. In this paper, considering the importance of the issue and motivated by the conflicting results of previous empirical studies, we attempt the analysis of capital structure of the European Maritime Enterprises (oceanic shipping). We focus on shipping companies, because of the large volume of funding that demands their main operation, due to the intensity of the assets held. The objectives of this research are firstly the identification of factors that affect the capital structure of European oceanic shipping and secondly to search for the existence of an ideal - target capital structure ratio. The determinants of capital structure are examined through static (fixed effect method and FGLS) and dynamic (GMM Methods) econometric models, using data from the financial statements of 32 listed European shipping companies for the period 2005-2010. The results suggest the prevalence of pecking order theory in our case, while a positive relationship arises between tangible assets and tax benefits (arising from sources other than borrowing) against leverage. Moreover, we observe a negative relationship between size or profitability and debt. Our findings contribute to a deeper understanding of the decisions taken by European shipping on their capital structure.
More...Keywords: Economic development; Co-integration; Granger causality; Deficit financing
This paper investigates the short run as well the long run relationships between money supply, inflation, government expenditure and economic growth by employing the Error Correction Mechanism (ECM) and Johansen co-integration test respectively for the case of Cyprus using annual data from 1980 to 2009. Collectively, empirical results imply that public spending promotes economic development in Cyprus. However, deficit financing by the government causes more liquidity effects but also inflationary pressure in the economy. Results show that inflation negatively effects economic growth probably due to adverse supply shock. Money supply should be allowed to grow according to the real output of the economy but excess growth of money causes inflationary pressure in case of Cyprus. Therefore, this paper suggests that the government should control its current expenditure that stimulates aggregate demand and to focus more on development expenditure which stimulates aggregate supply and increases real output level.
More...Keywords: Business Intelligence (BI); information systems success; data quality; user satisfaction; IT impact analysis
While Business Intelligence (BI) initiatives have been a top-priority of CIOs around the world for several years, accounting for billions of USD of IT investments per annum (IDC), academic research on the actual benefits derived from BI tools and the drivers of these benefits remain sparse. This paper reports the findings of an exploratory, cross-sectional field study investigating the factors that define and drive benefits associated with the deployment of dedicated BI tools. BI is broadly defined as an analytical process which transforms fragmented data of enterprises and markets into action-oriented information or knowledge about objectives, opportunities and positions of an organization; BI tools are software products primarily designed and deployed to support this analytical process (e.g. data warehouse software, data mining software, digital dashboards applications). Building upon DeLoneand McLean’s (1992; 2002; 2003) information systems success model, we develop, test and refine a BI quality and performance model adapted for the specific purpose, application, user group and technology of BI tools. The ultimate performance predictors in this model are user satisfaction and the impact of BI tools on managerial decision quality, both of which are determined by data quality. Partial Least Square (PLS) modeling is used to analyze data collected in a survey administered to IT executives of large Australian Stock Exchange (ASX) listed companies. The results confirm some of the theoretical relationships established in – especially the original – DeLone-McLean model in the specific context of BI. More importantly, the results also confirm the important role of explicit BI management as antecedent of benefits derived from BI tools, and the key impact of data quality on managerial decision making and organizational performance. However, the results also reveal a ‘user satisfaction paradox’: In contrast to the predictions derived from the DeLone-McLean model, organizational performance is negatively associated with user satisfaction with BI tools. Financial performance data collected for ex-post verification of this unexpected result confirm this paradox. We discuss BI-specific interpretations of these unexpected findings and provide avenues for future research.
More...Keywords: Price Discovery; Asymmetric Volatility Spillover; Cointegration; VECM; EGARCH Model
This study attempts to examine the price discovery process and volatility spillovers in Gold futures and spot markets of National Commodity Derivatives Exchange (NCDEX) by employing Johansen’s Vector Error Correction Model (VECM) and the Bivariate ECM-EGARCH(1,1) model. The empirical result confirms that the spot market of Gold plays a dominant role and serves as effective price discovery vehicle. Besides the study results show that the spillovers of certain information take place from spot market to futures market and the spot market of gold have the capability to expose the all new information through the channel of its new innovation.
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Keywords: censorship in Poland
documents of the Censorship Office
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Keywords: Polish literature
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Keywords: Polish contemporary history; communist Poland; communism in Poland
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Keywords: Tygodnik Powszechny; Polish Church; Communism in Poland
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